ISLINGTON SOMALI WELFARE LTD
Contents
for the year ending 30 September 2021
| 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 2021
| 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 2021
The directors present their annual report with the unaudited accounts of the company for the year ending 30 September 2021.
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-21 | 30-Sep-20 | |
| 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 23 June 2022 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 2021
| 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 2021 |
2021 £ 36,800 - 36,800 (36,394) 406 406 - 406 - 406 - 406 1,044 1,450 |
2020 £ 33,200 - 33,200 (33,097) 103 103 - 103 - 103 - 103 940 1,044 |
|---|---|---|
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 2021
| 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 |
£ - 1,753 1,753 (300) |
£ - - 1,453 1,453 3 1,450 1,453 2021 |
£ £ - - - 1,347 1,347 (300) 1,047 1,047 3 1,044 1,047 2020 |
|---|---|---|---|
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 2021
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 2021
-
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 23 June 2022 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 2021
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 |
2021 £ 0 2021 £ - |
2020 £ 0 2020 £ - |
|---|---|---|
Page 6
ISLINGTON SOMALI WELFARE LTD
Notes to the financial statements
for the year ending 30 September 2021
..…continued
| 5 Directors' emoluments Remunerations 6 Tangible fixed assets Cost At 30 September 2020 Additions At 30 September 2021 Depreciation At 30 September 2020 Charge for period At 30 September 2021 Net book values At 30 September 2021 At 30 September 2020 |
Plant & Machinery £ - - - - - - - - |
2021 £ - Fittings & fixtures £ - - - - - - - - |
2020 £ - Total £ - - - - - - - - |
|---|---|---|---|
Page 7
ISLINGTON SOMALI WELFARE LTD
Notes to the financial statements
for the year ending 30 September 2021
| 7 | Debtors and prepayments | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| Other debtors | 0 | - | |
| 0 | - | ||
| 8 | Creditors: amount falling due | 2021 | 2020 |
| within one year | £ | £ | |
| Accruals | 300 | 300 | |
| Director's loan | - | - | |
| 300 | 300 | ||
| 9 | Share capital | 2021 | 2020 |
| 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 | 2021 | 2020 |
| a. Analysis of shareholder's funds | £ | £ | |
| Equity | 1,453 | 1,047 | |
| b. Reconciliation of movements on shareholder's funds | 2021 | 2020 | |
| Profit for the financial year after taxation | £ 406 |
£ 103 |
|
| Dividend | - | - | |
| New share capital subscribed | 406 - |
103 - |
|
| Opening shareholders' funds at 30 September 2020 | 406 1,047 |
103 943 |
|
| Closing shareholders' funds at 30 September 2021 | 1,453 | 1,047 |
Page 8
ISLINGTON SOMALI WELFARE LTD
Detailed Trading and Profit and Loss accounts
for the year ending 30 September 2021
| 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 |
£ 29,476 3,000 1,514 507 1,143 428 313 13 - - |
£ 36,800 - 36,800 36,394 406 2021 |
£ 24,950 5,229 1,114 381 1,100 - 313 10 - - |
£ 33,200 - 33,200 33,097 103 2020 |
|---|---|---|---|---|
9