ISLINGTON SOMALI WELFARE LTD
Accounts & Reports
For the year ended 30 September 2024
ISLINGTON SOMALI WELFARE LTD
Contents
For the year ended 30 September 2024
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees’ report | 2-3 |
| Independent examiner’s report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the accounts | 7-10 |
ISLINGTON SOMALI WELFARE LTD
Legal and Administrative Information
For the year ended 30 September 2024
Status: The organisation is a charity and a company limited by guarantee registered in England & Wales. Charity Number: 1168023 Company Number: 09758584 Registered Office & Business Address: 174 Seven Sisters Road London, N7 7PX Trustees Mr Usama Y. Mohamed - Chair/Director Mr Mahamoud M. Kolomey - Member/Director Mr Walid Y. Mohamed - Treasurer/Director Mr Omar A. Mohamed - Member/Director Mr Yusuf Omar - Member
Accountants: Issa Associates Certified Accountants and Tax Consultants Suite 116, Cumberland House 80 Scrubs Lane London, NW10 6RF
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ISLINGTON SOMALI WELFARE LTD
Trustees’ Report
For the year ended 30 September 2024
Objective
The objectives of Islington Somali Welfare Ltd is to:
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To advance education in particular but not exclusively by providing adult education clubs and classes (ESOL) including the provision of private tuition for those in need of basic English lessons
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The relief of those in need, hardship or distress in particular but not exclusively by providing advice, guidance, support and counselling in areas including formfilling, translation services, housing and employment
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To promote racial and/or religious harmony for public benefit by promoting knowledge and mutual understanding and respect between all communities
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To undertake any other charitable activities as determined by the trustees.
Legal structure
Islington Somali Welfare Ltd is a company limited by guarantee and a registered charity with the Charities Commission in England & Wales.
Financial statements
The trustees submit their trustees’ report and financial statements for the year ended 30 September 2024.
Policies:
Reserve policy:
The charity currently operates with minimal reserves. The trustees are endeavouring to build up its donor base with a view to having reserves equal to 6 months operating expenditure.
Risk(s) review:
The trustees have recently reviewed the major risks faced by the charity. This has resulted in efforts to raise unrestricted funds and increase charity’s donor base.
Trustees Responsibilities
The trustees are responsible for keeping proper accounting records which disclose at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006.
The trustees oversee preparation of financial statements, select suitable accounting policies and make judgments and estimates that are reasonable and prudent to give the true state of affairs of the charity.
Trustees are also responsible for safeguarding the assets of the charity. They are elected and replaced as set out in the Memorandum and Articles of Association.
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SLINGTON SOMALI WELFARE LTD
Trustees’ Report (continued)
For the year ended 30 September 2024
Activities and Achievements
The charity is managed by 5 elected trustee members, and is staffed by 6 volunteers.
The core of the charity’s work is to provide advice education and training to local community members particularly those of Somali origin along with the elderly who are of disadvantaged background in the local Islington area.
Funding
The charity operates on funds provided by service and centre users which made possible the initiation and continuation of this service to break many barriers for local people particularly those of ethnic minority background.
This report was approved by the board and signed on its behalf by:
Chair Usama Mohamed
Date: 25 June 2026
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SLINGTON SOMALI WELFARE LTD
Independent Examiners Report
For the year ended 30 September 2024
I have examined the accounts on pages 5 to 6 which have been prepared on accruals basis.
Respective responsibilities of trustees and examiner
The Charity’s trustees are responsible for the preparation of the accounts. The Charity’s trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 43 of the 1993 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 43(7)(b) of the 1993 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention, which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 41 of the 1993 Act; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of the 1993 Act, have not been met;
Date: 25 June 2026
Issa Associates Certified Accountants and Tax Consultants Suite 116, Cumberland House 80 Scrubs Lane London NW10 6RF
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ISLINGTON SOMALI WELFARE
Statement of Financial Activities
For the year ending 30 September 2024
| Notes Incoming resources From charitable activities 2 Investment income 2 Total incoming resources Resources expended Charitable activities 3 Governance costs 4 Total Resources Expended Less Adjustment Net resources for the year Fund balances at 30 September 2023 Fund balances at 30 September 2024 |
Unrestricted funds £ - - - - - - - - - |
Restricted funds £ 43,260 - 43,260 42,439 463 42,902 358 1,864 2,222 |
2024 2023 Total Total £ £ 43,260 40,982 - - 43,260 40,982 42,439 40,388 463 434 42,902 40,822 358 160 1,864 1,704 2,222 1,864 |
|---|---|---|---|
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ISLINGTON SOMALI WELFARE
Balance Sheet
For the year ending 30 September 2024
| Notes Fixed assets Tangible assets 5 Current Assets: Debtors 6 Cash at bank and in hand Creditors:amounts falling due within one year 7 Net Current Assets Total Assets less current liabilities Funds of the charity: Restricted funds as at 30-09-2024 |
£ £ £ £ - - 1,040 - 1,482 2,164 2,522 2,164 (300) (300) 2,222 1,864 2,222 1,864 2,222 1,864 2,222 1,864 2024 2023 |
|---|---|
For the financial year 30 September 2024, the company was entitled to exemption from audit under s477 of the Companies Act 2006; and no notice has been deposited under s476.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with s386 and 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 requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
These accounts have been prepared in accordance with the provisions applicable to companies subject to small companies' regime. The financial statements on pages 1 to 6 were approved by the board and signed on their behalf by:
………………………………..
Date: 25 June 2026
Usama Y. Mohamed Chair
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ISLINGTON SOMALI WELFARE
Notes to the Accounts
For the year ending 30 September 2024
1 Accounting Policies
- 1.1 Basis of accounting
The financial statements have been prepared under the historical cost convention, and have been prepared in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities (Revised SORP 2015) and the Financial Reporting Standard for Smaller Entities.
- 1.2 Incoming Resources
Grants and donations are recognised on accruals basis.
Incoming resources are reported gross.
- 1.3 Resources Expended
Resources expended are included in the Statement of Financial Activities on accruals basis, inclusive of any VAT that cannot be recovered.
Expenditure that is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of those resources.
- 1.4 Depreciation
Tangible fixed assets are stated at cost less depreciation.
Provision for depreciation of tangible fixed assets held by the charity is made at an annual rate of 25% on straight line basis.
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ISLINGTON SOMALI WELFARE
Notes to the Accounts
For the year ended 30 September 2024
2. Grants and Donations
| Donations from members Other charity income 2. Investment Income Interest receivable Total Incoming Resources |
Unrestricted Funds £ - Unrestricted Funds £ - - |
Restricted Funds £ 43,260 - 43,260 Restricted Funds £ - 43,260 |
2024 Total 2023 Total £ £ 43,260 40,982 - - 43,260 40,982 2024 Total 2023 Total £ £ - - 43,260 40,982 |
|---|---|---|---|
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ISLINGTON SOMALI WELFARE
Notes to the Accounts
For the year ending 30 September 2024
3a. Direct Charitable Expenditure
| Unrestricted | Restricted | 2024 | 2023 | ||
|---|---|---|---|---|---|
| Notes | Funds | Funds | Total | Total | |
| £ | £ | £ | £ | ||
| Rent & rates | 6 | - | 32,671 | 32,671 | 31,516 |
| Wages & salaries | - | 3,600 | 3,600 | 3,600 | |
| Light & heat | - | 2,467 | 2,467 | 1,821 | |
| Repairs & maintenance | - | 1,881 | 1,881 | 1,687 | |
| - | 40,619 | 40,619 | 38,624 | ||
| 3b. Support Costs | |||||
| Unrestricted | Restricted | 2024 | 2023 | ||
| Funds | Funds | Total | Total | ||
| £ | £ | £ | £ | ||
| Postage & stationery | - | 13 | 13 | 16 | |
| Telephone and internet | - | 563 | 563 | 544 | |
| Insurance | - | 1,244 | 1,244 | 1,204 | |
| - | 1,820 | 1,820 | 1,764 | ||
| Total Charitable Activities | - | 42,439 | 42,439 | 40,388 | |
| 4. Governance | |||||
| Unrestricted | Restricted | 2024 | 2023 | ||
| Funds | Funds | Total | Total | ||
| £ | £ | £ | £ | ||
| Legal and Professional | - | 463 | 463 | 434 | |
| - | 463 | 463 | 434 | ||
| Total Resources Expended | - | 42,902 | 42,902 | 40,822 |
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ISLINGTON SOMALI WELFARE
Notes to the Accounts
For the year ending 30 September 2024
| 5 Tangible Fixed Assets 6 Debtors and prepayments 7 Creditors – Amounts falling due within one year Cost At 1 October 2023 Additions Other Creditors At 30 September 2024 Charged in the Year At 30 September 2023 Depreciation Other debtors Net Book Value At 30 September 2024 At 30 September 2024 At 1 October 2023 |
Office Equipment Total £ £ 230 230 - - 230 230 230 230 - - - 230 230 - - - - 2024 2023 £ £ 1,040 - 1,040 - 2024 2023 £ £ 300 300 300 300 |
|---|---|
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