**OTHERS FIRST FOUNDATION CHARITABLE INCORPORATED ORGANISATION-CIO REPORT AND FINANCIAL STATEMENT FOR THE FINANCIAL YEAR ENDED 28[TH] FEBRUARY 2021** ## **Charity Registration Number: 1162307** ## **OTHERS FIRST FOUNDATION-CIO** ## **INFORMATION:** **______________________________________________________________________________** **Trustees** **Mr Ali zarei Mr Alen Mason Mr Steven Goodwin Mr Stephen Infield** **Charity Address: 1 Geron Way London NW2 6LD Bankers: Barclays bank CAF Bank** ## **OTHERS FIRST FOUNDATION-CIO** |**CONTENTS**|**PAGE**| |---|---| |**______________________________________________________________________________**|| |**Trustees report**|**1**| |**Statement of Trustees Responsibilities**|**3**| |**Independent Accountant Report**|**4**| |**Statement of Financial Activities**|**5**| |**Balance Sheet**|**6**| |**Notes on Financial Statement**|**7-8**| ## **OTHERS FIRST FOUNDATION-CIO** ## **Report of Trustees of Others First Foundation‐CIO For the financial year ending 28[th] February 2021** The trustees present their report and financial statements for the year ended 28[th] February 2021. ## **Principal Activities** The principle activities of the charity are to promote the voluntary sector for the purpose of public benefit by providing office space and other services required by other charities and voluntary organisations by considering the following definitions: 'The voluntary sector' means charities and voluntary organisations. - Charities are organisations, which established for exclusively charitable purpose in accordance with the law of England and Wales. - Voluntary organisations are independent organisations, which are established for a purpose that adds value to the community as a whole, or a significant section of the community and which are not permitted by their constitution to make a profit for private distribution. - Voluntary organisations do not include local government or other statutory authorities. Others First Foundation has been registered as a CIO‐charity on 19[th] June 2015 and the Trustees of the Charity from the registration date are as follow as: Mr. Allen Mason, Mr. Ali Zarei, Mr. Steven Goodwin and Mr. Stephen D. Infield. (The charity administration is wholly managed by volunteers. It has no paid staff) ## **Projects and activities of the others First Foundation during the financial year ending 28[th] February 2021:** On 15[th] July 2016, The Trustees managed to find a building that was suitable for establishing a community center for the use of other charities and voluntary organisations as planned in the objectives of the charity. (1) The building continued to be used regularly by local charities and non‐profit voluntary organisations for their office use, daily or weekly meetings, AGMs and conferences and seminars, catering and charity events, internet and other services. The Trustees were pleased to be able to help other charities and voluntary sectors to have a place to work from and facilitate them with their required space and services towards their charitable or humanitarian activities. During COVID day‐to‐day activities were curtailed but essential services continued to be provided by the Foundation. ## **Income and Expenditure** During the financial year ended 28[th] of February 2021, the total income of the charity was in total of £109432.00 which was received from private donors, gift aid and other grants. By the end of financial year the charity had expended a total of £122107.00 (year 2020 = £100546) for its rent and rates, insurance, utilities and other administrative expenses. At the end of year the cash at the bank was about £13,545.00 (2020 = £26,431.00) During the year the center was fully operated by volunteers and trustees and there was no paid staff for this financial year. The expenses of the charity were kept in minimum except the essential expenses such as rent, rate and utility bills which had to be paid by the charity. Following a safety risk assessment, the charity started renewing fire alarm and safety system, in addition to improving the total measures of the health & safety of the volunteers and visitors. ## **Trustees Plan** Trustees plan to continue with their services to other charities and non‐profit organization, - To find potential donors to help with the expenses of running the center - To apply for grants from charities, trusts and other foundations to help supplement the running costs of the building and services. - To continue with gift Aid claims. - To keep the building in safe and healthy condition to use by volunteers, which was improved by renewing fire alarm and safety system, in addition to improving the total measures of the health & safety of the volunteers and visitors. - To establish required policy for the charity and consider all risks and provide plans to ensure the risk free options and procedures - To secure the policies on income and assets of the charity to prevent any fraud or misusing. (2) Statement of Trustee's res onslbllltles The Trustees are aware that they are required by law applicable to charities In England and Wales to prepare the Trustees Annual Report and financial statements for every financial year, which must give a true and fair view of the state of affairs of the charity. Select suitable accounting practices and ensue they are applied consistently Ensure accountin8 practices adhere to United Kingdom accountin8 Standards Prepare the financial statements on a going concern basls. If the charlty 15 to be wound up, a final closing account will be produced. Ensure that any financial records accurately reflect the position of the Charity and that any statement complies with the Charities Act 2011 and the provisions of the foundation's constitution. The trustees are also responsible for safeguarding the a55ets of the charity and to take reasonable steps to detect and prevent fraud and other irregularities. Rlsk Assessment Durlng the year the trustees have assessed the major rlsk5 to whlch the charlty may be exposed. Those risks, as identified, have been reviewed and mitigatlon plan5 Put in plate to deal with them. Approved and Signed by the Trustees on IDatel......o.q...l.o..l..l..,&,Ll Slgned by.. All Zarei (3) ## **ACCOUNTANT'S REPORT** ## **Report to the trustees of the Others First Foundation** The financial statements of the Others First Foundation for the year ended 28[th] February 2021 which comprise the Income and Expenditure Account, the Balance Sheet and the related notes. The financial Statement has been provided under the accounting policies set out therein. ## **Respective responsibilities of Trustees** The trustees are responsible for preparing the financial statements in accordance with applicable law of United Kingdom's Accounting Standards (United Kingdom Generally accepted Accounting Practice). ## **Opinion:** The Financial Statements give a true and fair view, in accordance with United Kingdom Generally accepted Accounting Practice, of the state of affairs of the Company as at 28[th] February 2021 and of its incoming resources and application of recourses, for the year then ended. - A.R. Keshavarz Keshavarz Date: 14/08/2021 (4) ## **OTHERS FIRST FOUNDATION-CIO** ## **Statement of Financial Activities** ## **For the Year Ended 28[th] February 2021** |**_________________________________________**
**Note:**
**(2)**
**Income:**
Fundraising
Gift Aid
Bank interest income
Interest- HMRC
Charities
Total Income:
Refund of Donations:
Gross Profit
**Expenses:**
**(3)**
Administrative
Expenses
Refreshments
Financial Expenses:
Bank Service Charge
Project
Expenses
Total Expenses:
Net Profit/(Loss) for
the year
Historical Income|**________________________**
**2021**
**Total**
**£**
109431.00
‐
1
-
109432.00
0.00
109432.00
1554.00
5630.00
318.00
114605.00
122107.00
(12675.00)
12126.00
551.00|**____________**
**2020**
**Total**
**£**
114,100.00
3125.00
6.00
1.00
117232.00
0.00
117232.00
52.00
‐
154.00
104606.00
104812.00
12420.00
(294.00)
12126.00| |---|---|---| All of the above results are derived from continuing activities. There were no other recognized gains or losses other than those stated above. (5) OTHERS FIRST FOUNDATION-CIO Balance Sheet For the Year Ended 28" February 2021 2021 Total 2020 Total Note: 14) Assets: Current Asset5 Cash At Banks Barcloys-53539482 CAF Bank Debtors: offlce Rent & Rate Blffa Total Asset5 LlabSlltles Current Liabllities 6,497.00 7,049.C(J 6,672.00 3,587.00 1041.00 339.00 14,926.C 6,736. 16,994.CK) Creditors-A Zarei London 8orou8h of Barnet David Menzies Management SeThice British Gas Accrual Legal & Advise Total Liabilities Net Assets General Reseryes: 11,869.00 1,287.00 4,553.00 153.00 I160.￿) .315 1008.00 115477.001 551.00 4,868.00 12,126.00 1£12676.001 12,420.C Current Earnings £12126.00 1294.001 Historical Balancing Account General Reserves 551.C 12,126.C Approved by Trustees on .a.q. l.o.2..l.Zo.L bnd signed on their behalf by.. Mr. Ali Zarei Trustee (6) ## **OTHERS FIRST FOUNDATION-CIO** ## **Notes to the Financial Statements** ## **For the Year Ended 28[th] February 2021** **_______________________________________________________________________** ## **1. Accounting Policies** ## **1.1 Accounting Convention** The Financial Statement have been prepared under historic cost convention ## **1.2 Compliance with Accounting Standards** The Financial Statement has been prepared in accordance with applicable United Kingdom Accounting Standards which have been applied consistently. **1.3 Going Concern** The trustees consider there are no material uncertainties about Others First Foundation’s ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying of assets and liabilities with in next reporting period. ## **1.4 Pensions** The charity’s administration is wholly managed by volunteers. It has no paid staff therefore the charity does not operate employee’s pension schemes ## **2. Income** Charity’s income was the total of the following incomes: Private fundraising (donations) £26,431.00 Grants £83,000.00 Gift Aid Claim £0.00 Interest – HMRC Charities £0.00 Bank interest £1.00 ____________ Total income: £ 109,432.00 ## **3. Expenses:** Office rent & rate £98551.00 Legal & advise £1439.00 Office repair & maintenance £9583.00 Telephone & internet £42.00 (7) ## **OTHERS FIRST FOUNDATION-CIO** **Notes to the Financial Statements For the Year Ended 28[th] February 2021** **_______________________________________________________________________** Refreshment £5630 Utilities £6471.00 Bank service charge £318.00 Postage £73.00 ___________ Total Expenses: £122107.00 (8)