## **ISLINGTON SOMALI WELFARE LTD**
## **Contents**
## **for the year ending 30 September 2020**
||Page|
|---|---|
|Company information|1|
|Directors' report|2|
|Profit and loss account|3|
|Balance sheet|4-5|
|Notes to the financial statements|6-8|
## **ISLINGTON SOMALI WELFARE LTD**
## **Company Information**
## **for the year ending 30 September 2020**
|Directors:|Mr. Omar A. Mohamed|
|---|---|
||Mr. Yusuf M. Omar|
||Mr. Mohamed Y. Mohamed|
|Company number:|9758584|
|Charity Number:|1168023|
|Registered office:|174 Seven Sisters Roaf|
||London|
||N7 7PX|
|Business address:|174 Seven Sisters Roaf|
||London|
||N7 7PX|
Page 1
## **ISLINGTON SOMALI WELFARE LTD**
## **Directors' report**
## **for the year ending 30 September 2020**
The directors present their annual report with the unaudited accounts of the company for the year ending 30 September 2020.
## _Principle activities_
The principle activity of the company in the period under review was education and training.
## _Directors and their interests_
The directors who served during the period and their interest in the company are as stated below:
|below:|||
|---|---|---|
|||_Ordinary shares_|
||30-Sep-20|30-Sep-19|
|Mr. Omar A. Mohamed|0|0|
|Mr. Yusuf M. Omar|0|0|
|Mr. Mohamed Y. Mohamed|0|0|
## _Directors' Responsibilities_
Company law requires the directors to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these, the directors are required to:
Select suitable accounting policies and apply them consistently; Make judgments and estimates that are reasonable and prudent; prepare the financial statements on going concern basis unless its inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records which disclose with reasonable accuracy at anytime the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Acts 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report is prepared in accordance with the special provisions of relating to small companies within Part 15 of the Companies Act 2006.
This report was approved by the Board on 24 June 2021 and signed on its behalf by: behalf by:
## Mr. Yusuf M. Omar
Director
Page 2
## **ISLINGTON SOMALI WELFARE LTD**
## **Profit and loss account**
## **for the year ending 30 September 2020**
|Notes
Turnover
2
_Cost of sales_
Gross profit
Administrative expenses
Operating profit/(loss)
3
Profit/(loss) on ordinary activities before interest
Interest
Profit/(loss) on ordinary activities before taxation
Taxation
Profit/(loss) on ordinary activities after taxation
Dividend
4
Retained profit/(loss) for the period
Retained profit/(loss) brought forward
Retained profit at 30 September 2020|2020
£
33,200
-
33,200
(33,097)
103
103
-
103
-
103
-
103
940
1,044|2019
£
40,800
-|
|---|---|---|
|||40,800
(40,159)|
|||641|
|||641
-|
|||641
-|
|||641
-|
|||641
299|
|||940|
Turnover and operating profit derive wholly from continuing operations.
The company has no recognised gains or losses other than the profit or loss for the above period.
_Notes on pages 7 to 8 form an integral part of these financial statements._
Page 3
## **ISLINGTON SOMALI WELFARE LTD**
## **Balance sheet**
## **for the year ending 30 September 2020**
|Notes
_Fixed assets_
Tangible
6
_Current assets_
Debtors
7
Cash at bank and in hand
_Creditors: amount falling_
_due within one year_
8
Total asset less current liabilities
Capital and Reserves
Called up share capital
9
Profit and loss accounts
Shareholders' funds
11|£
-
1,347|£
-
-
1,047
1,047
3
1,044
1,047
2020|£
-
1,256|£
-
2019|
|---|---|---|---|---|
|||||-
943|
||1,347
(300)||1,256
(313)||
||||||
|||||943|
|||||3
940|
|||||943|
The directors' statements required by section 475(2) are shown on the following page which form part of this balance sheet.
_The notes on page 7 to 8 form an integral part of these financial statements_
Page 4
## **ISLINGTON SOMALI WELFARE LTD**
## **Balance sheet (continued)**
## **Directors' statements required by section 475(2)**
## **for the year ending 30 September 2020**
In approving these financial statements as directors of the company we hereby confirm:
- a) That for the year stated above, the company was entitled to exemption conferred by section 477 Companies Act 2006;
- b) that no notice has been deposited at the registered office of the company pursuant to section 476 requesting that an audit be conducted for the year ended 30 September 2020
- c) that we acknowledge our responsibilities for:
- 1) ensuring that the company keeps accounting records which comply with section 386 and
- 2) Preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the provision of the Companies Act 2006 relating to accounts,
- so far as applicable to the company.
These financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The Financial statements were approved by the board on 24 June 2021 and signed on its behalf by:
Mr. Yusuf M. Omar Director
_The notes on page 7 to 8 form an integral part of these financial statements._
Page 5
## **ISLINGTON SOMALI WELFARE LTD**
## **Notes to the financial statements**
## **for the year ending 30 September 2020**
## 1 _Accounting Policies_
- 1.1 _Basis of accounting_
The accounts are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
## 1.2. _Turnover_
Turnover represents total sales made during the year.
## 1.3. _Tangible fixed assets and Depreciation_
Depreciation is provided at the rates calculated to write off the cost less residual value of each asset over its expected useful life as follows
Fittings & fixtures 20% on cost
- 1.4. _Deferred taxation_
Deferred tax arises as a result of including items of income and expenditure in taxation in computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
## 1.5. _Cash flow_
_The accounts do not include a cash flow statement because the company, as a small_ reporting entity, is exempt from the requirement to prepare such a statement.
## 1.6. _Foreign currencies_
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Exchange differences are taken into account in arriving at the operating profit.
## 2 _Turnover_
The total turnover of the company for the year has been derived from its principle activity wholly undertaken in the UK.
|3
_Operating profit /(loss)_
Operating profit/(loss) is stated after charging:
Depreciation and other amounts written off - tangible assets
4
_Dividend_
Dividend on ordinary shares|2020
£
0
2020
£
-|2019
£
0|
|---|---|---|
|||2019
£
-|
Page 6
## **ISLINGTON SOMALI WELFARE LTD**
## **Notes to the financial statements**
## **for the year ending 30 September 2020**
..…continued
|5
Directors' emoluments
Remunerations
6
_Tangible fixed assets_
_Cost_
At 30 September 2019
Additions
At 30 September 2020
_Depreciation_
At 30 September 2019
Charge for period
At 30 September 2020
_Net book values_
At 30 September 2020
At 30 September 2019|
Plant &
Machinery
£
-
-
-
-
-
-
-
-|
2020
£
-
Fittings &
fixtures
£
-
-
-
-
-
-
-
-|2019
£
-|
|---|---|---|---|
||||Total
£
-
-|
||||-|
||||-
-|
||||-|
||||-|
||||-|
Page 7
## **ISLINGTON SOMALI WELFARE LTD**
## **Notes to the financial statements**
## **for the year ending 30 September 2020**
|7|_Debtors and prepayments_|2020|2019|
|---|---|---|---|
|||£|£|
||Other debtors|0|-|
|||0|-|
|8|_Creditors: amount falling due_|2020|2019|
||_within one year_|£|£|
||Accruals|300|313|
||Director's loan|-|-|
|||300|313|
|9|_Share capital_|2020|2019|
||_Authorised_|£|£|
||3 ordinary share capital of £0 each|0|0|
||_Allotted, called up and fully paid_|||
||3 Ordinary shares of £0 each|0|0|
|10|_Controlling interest and personal guarantees_|||
||The company was controlled by Y. M. Omar, O. A. Mohamed and M. Y. Mohamed,|||
||throughout the current period by virtue of their ownership of allotted shares in the company.|||
|11|_Shareholder's funds_|2020|2019|
||a. Analysis of shareholder's funds|£|£|
||Equity|1,047|943|
||_b. Reconciliation of movements on shareholder's funds_|2018|2017|
|||£|£|
||Profit for the financial year after taxation|103|641|
||Dividend|-|-|
|||103|641|
||New share capital subscribed|-|-|
|||103|641|
||Opening shareholders' funds at 30 September 2019|943|302|
||Closing shareholders' funds at 30 September 2020|1,047|943|
Page 8
## **ISLINGTON SOMALI WELFARE LTD**
## **Detailed Trading and Profit and Loss accounts**
## **for the year ending 30 September 2020**
|_Turnover_
_Less: cost of sales_
_Gross profit_
_Expenses_
Rent & rates
Wages & salaries
Light & heat
Telephone, fax and internet services
Insurance
Repairs & maintenance
Legal and Professional
Postage & stationery
Sundries
Depreciation on tangible assets
Total expenses
Net profit/(loss) for the period|£
£
33,200
-
33,200
24,950
5,229
1,114
381
1,100
-
313
10
-
-
33,097
103
2020|£
£
40,800
-
40,800
30,863
6,673
905
436
1,066
-
213
4
-
-
40,159
641
2019|£
£
40,800
-
40,800
30,863
6,673
905
436
1,066
-
213
4
-
-
40,159
641
2019|
|---|---|---|---|
||||40,800
40,159|
|||||
||||641|
9