Readlng and East Afrlcan Communlty Charfty No. 1169146 Company No. CE008775 Trustees, Report and Unaudlted Accounts 31 March 2025
Reading and East Afrlcan Community CONTENTS Pages Trustees, Annual Report Independent Examiner's Report ststement of Flnancial Activities Summary Income and Expenditure Account Balance Sheet Statement of Cash flows Notes to the Accounts 8t014 Detailed Ststement of Financial Activlties 15 Page I
Reading and East Afrlcan Communlty TRUSTEE5 ANNUAL REpoirr Reading and East Afrlcan Community The Trustees, who are also dtrectors of the charity for the purposes of the Companies Act 2CK)6, present thelr report wlth the unaudited financial statements of the charity for the year ended 31 March 2025. REFERENCE AND ADMINISTRATIVE DEfAILS Company No. CE008T15 Charfty No. 1169146 Reglstered Office 184 Oxford Road Reading Berkshire RGI 7PL Dlrertors and Trustees The 01CtOrS of the charitable company are Its Trustees for the purposes of charlty law. The following Directors and Trustees served during the year: Abbas Faklh Hassan Abdullah Ramadhan Juma Accountants Anchor Buslness Solutlond Itd 1-24 Acorn House 351-397 Mldsummer Boulevard Milton Keynes Bucks MK9 3HP The Trustees are responsible for keeplng proper accounting records that disclose with reasonable accuracy at any tlme the financlal position of the charity and to enable them to ensure that the financlal statements comply with the Companies Art 2006. The Trustees are also responsible for safeguardlng the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The above report has been prepared in accordance wlth the provisions applicable to companles subJee( to the small companles re8lme as set out In Part 15 of the Companles Act 2006 and In accordance with the Charities SORP {FRS 1021. ard Hassan Abdullah Trustee 31 March 2025 Page 2
Readlng and East Afrlcan Communlty INDEPENDENT EXAMINERS REPORT Independent Examlnerfs Report to the trustees of Reading and East Afrlcan Community I report on the accounts of Reading and East African Community for the year endod 31 March 2025 which comprise the Statement of Financial Activities. the Summary Income and Expenditure Account, the Balance Sheet. the Ststement of Cash Flows and the related notss. Respectfve responslblllties of trustees and examiner The trustees (who are also directors of the charitable company for the purposes of compary law) are responslble for the preparation of the accounts. The trustees consider that an audit 15 not required for this year under the Charities Act 2011. s.144(2) (the 2011 Act) and that an independent examination Is needed. Havlng satlsfled myself that the charlty Is not subject to audlt under company law and15 ellgible for independent examination, it is my responsibility to: examine the accounts under s.145 of the 2011 Act," to follow procedures lald down In the general Dlrectlons glven by the Charlty Commission under s.145(5}Ib) of the 2011 Act; and to state whether particular matters have come to my attentlon. 8asls of Independent examlnerf5 report My examlnation was carried out in accordance with the general directlons given by the Charlty Commlsslon. An examination includes a review of the accounting records kept bythe charity and a comparison of the accounts presented with those records. It also Includes consSderation of any unusual Stems or dlsclosures In the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures do not provlde all the evldence that would be requlred In an audlt, and consequently no oplnlon Is glven 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 examlner's ststefflent In connectlon wlth my examlnatlon, no matter has come to my attentlon: 111 which glves me reasonable cause to believe that In any material respect the requlrements: to keep accountlng records in accordance wlth the Companles Act 2006. s.386 and to prepare accounts which accord with the accounting records, comply with the accountlng requirements of section 396 of the Companies Act 2006 and with the methods and prlnclples of the Charities Statement of Recommended Practice: Accounting and Reporting by Charltles, have not been met: or (2) to which. in my opinion. attention should be drawn in orderto enable a proper understsnding of the accounts to be reached. Tolulope Fasanya AFA MIPA Institute of Financial Accountants Anchor Buslness Solutlond Itd 1-24 Acorn House Page 3
Readlng and East African Communlty INDEPENDENT EXAMINERS REPORT 351-397 Midsummer Boulevard Milton Keynes Bucks MK9 3HP 31 March 2025 Page 4
Readlng and East Afrfcan Communlty STATEMENT OF FINANCIAL AcllviTIES for the year ended 31 March 2025 Unrestrfrted funds Totsl funds Total funds 2025 2025 2024 Income and endovmients from: Donations and legacies Charitable activities (i) 13.582 25,876 25.876 Totsl 25,876 25,876 13,581 Expendlture on: Charltable activlties Other 720 7,629 720 7,629 720 Total 8,349 8,349 5,728 Net galns on Investments Net Income Net Income before other galns/{losses) 17,527 17,527 7,853 17,527 17,527 7,853 Other galns and losses: Net movement In funds 17,527 17,527 7.853 Reconclllatlon of funds: Total funds brought forward 322,330 322,330 314,476 Totsl funds ¢arrled forward 339,857 339,857 322,329 Page 5
Reading and East Afrlcan Communlty SUMMARY INCOME AND EXPENDrniRE ACCOUNT for the year ended 31 March 2025 2025 . 2024 Income 25.876 13,582 Gross Income for the year Expenditure 25,876 13,582 8.349 5,201 Interest payable 528 Total expendlture for the year Net Income before taxfor the year 8,349 5,729 17,527 7,853 Net Income for the year 17,527 7.853 Page 6
Readlns and East African Communlty BALANCE 5HEEr at 31 March 2025 Company No. CE(X18T15 2025 2024 Flxed assets Tanglble assets 31x1,538 3,538 300,538 300,538 Current assets Debtors Cash at bank and in hand 10 187 51,472 51,659 (12.340) 39,319 187 38.826 39.013 (17,222) 21,791 Credltors: Amount falling due within one year Net current assets 11 Total assets less current Ilabllltles 339.857 322,329 Net assets excludln8 penslon a55et or Ilablllty 339.857 322,329 Totsl net awts 339,857 322,329 The funds of the ¢harlty R•strlrted funds Unre5trlcted funds General funds 12 12 339,857 322,330 339.857 322,330 Reserves 12 Total funds 339,857 322,330 These accounts have been prepared In accordance wlth the special provlslons of Part 15 of the Companles Act 2006 relatlng to small companies. For the year ended 31 March 2025 the company was entltled to exemptlon under sectlon 477 of the Companles Act 2006 relating to small companies. The members have not required the company to obtsln an audlt In accordance wlth sertlon 476 of the Companles Act 2006. The directors acknowledge their responsibilities for complylng wfth the requirements of the Companies Art 2006 wlth respect to accounting records and the preparation of accounts. Approved by the board on 31 March 2025 signed Hassan Trustee 31 March 2025 bdullah Page 7
Readlng and East Afrlcan Communlty STATEMEMf OF CASH FLOWS for the year ended 31 March 2025 2025 2024 Cash flows from operatlng actlvltles Net income per Statement of Flnanclal ktlvltles 17,527 7.853 Adjustments for: Increase in trade and other payables 120 Net cash provlded by operatlng actlvltles 17,527 7.973 Net rash from Investlng actlvltles Cash flows from flnandng actlvltl Repayment of borrowings (4,8821 16,949) Net osh used In finandng actmtles (4,8821 16.9491 Net Increase In cash and cash equlvalents 12,645 1,024 Cash and cash equlvalents at the be8lnnlns of the year 38,826 37,802 Cash and ¢a5h equlvalents at the end of the year 51,471 38,826 Components of cash and cash equlvalents Cash and bank balances 51,472 38,826 51,472 38,826 Page 8
Reading and East African Communlty NOTES TO THE AccouNrs for the year ended 31 Marth 2025 l Ac¢ountln8 pollcles Basls of preparation The financial statements have been prepared In accordance WFth Accountlng and Reportlng by Charities: Statement of Recommended Practice applicable to charities preparlng their accounts in accordance wlth the Flnanclal Reporting Standard applicable in the UK and Republic rf Ireland IFRS 102)- Charities SORP IFRS 1021 {effective l January 2015)- the Finanaal Reporting Stsndard appllcable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006. Change In ba515 of accountlng or to prevlous accounts There has been no change to the accounting policles (valuation rules and method of accountlng) since last year and no changes have been made to accounts for prevlous years. Fund ac¢ountln8 Unrestricted funds These are avallable for use at the discretion of the trustees In furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees for partScular purposes. These are unrestrlcted funds whlch include a revaluation reserve representlng the restatement of Investment assets at thelr market values. These are available for use subject to restrlctlons imposed by the donor or through terms of an appeal. Designated funds Revaluatlon funds Restrlcted funds Income Recognitlon of Income Income Is Sncluded In the Statement of Financial Actlvltles (SOFA) when the charlty becomes entitled to, and virtually rtaIn to recelve, the income and the amount of the Income can be measured wlth sufflcient reliablllty. Income wlth related Where income has related expendlture the Income and related expendlture Is expendlture reported gross In the SOF Donatlons and legacies Voluntary Income received by way of 8rants, donations and gifts Is Included In the the SOFA when recelvable and only when the Charlty has uncondltional entitlement to the income. Tax reclalms on Incorne from tax redaims Is Included In the SOFA at the same tlme as the donations and glfts glft/donation to which it relates. Donated ServIS These are only Included In Income (with an equlvalent amount In expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and rnaterial. Volunteer help The value of any volunteer help received is not included in the accounts. Investment Income Thls Is Included Sn the accounts when recehlable. Gainslllossesl on Thi5 includes any galn or loss resultlng from revaluing Investments to market value revaluatlon of fixed at the end of the year. assets Gains/{losses) on investment assets Thi5 includes any galn or loss on the sale of Investments. Page 9
Reading and East African Communlty NOTES TO THE ACCOUNTS Expenditure Recognition of expenditure Expendlture Is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntsry income. fundralslng raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activltles seNices in the furtherance of its objects. including the making of grants and governance costs. All grant expenditure Is accounted for on an actual paid basls plus an accrual for grants that have been approved by the trustees at the end of the year but not yet pald. These inclltde those costs associated wlth meeting the constitutional and statutory requirements of the Charity. includlng any auditlSndependent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular artivity. Grants payable Governance costs Taxatlon The charfty Is exempt from corporatlon tax on Its charitable activities. Freehold Investment property Investment properties are revalued annually and any surplus or deficit is dealt with throug the Statement of Flnanclal Actlvltles. No depreclationls provided In respect of investment propertles. Thls treatment conflicts with the requlrements of the Companles Act 26 that all propertles should be depreclated. The dirertors consider that, because these propertles are not held for consumptlon, but for their investment potential it Is fteSsary to adopt the requirements of the FRSSE in order to glve a true and falr vlew. Intanglble flxed assets and amortlsatlon Intsnglble fixed assets (Including purchased goodwill, patents and trademarks) are carrled at cost less accumulated amortisation and Impalrment losses. Stocks Stock is included at the lower of cost or net reallsable value. Donated Items of stock are reco8nlsed at falr value whlch Is the amount the charity would have been willing to pay for the items on the open market. Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equlvalents Cash and cash equivalents comprise cash at bank and on hand. demand deposlts with banks and other short-term highly liquid Tnvestments with original maturltles of three months or less and bank overdrafts. In the statement of financial position. bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash managemenL Page 10
Reading and East Afrlcan Communlty NOTES TO ThE ACCOUKt5 Trade and other credltors Short temi creditors are measured at the transaction price. Other creditors arbd provrsions are recognised Whe the charity has a present obligation resulting from a past event that wiiiprobably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowlng for any trade discounts due. Research and development Expendlture on research and development is written off in the year in which it is incurred. Forel8n currencles Monetary assets and liablllties denominated in currencles other than the functlonal currency of the charlty are translated at the rates of exchange prevailing at the end of the reporting perlod. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transartion occurred. All exchan8e differences are are taken into account in afflvlng at net income/expenditure. Leased assets Where the charity enters Into a lease which entalls taklng substantlally all the rfsks and rewards of ownershlp of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownershlp to chaty are classlfied as operatlng leases. Assets held under fInan leases are Inltially recognlsed as assets of the charity at thelr falr value at the Inceptlon of the lease or, If lower, at the present value of the minlmum lease payments. The corresponding liability to the lessor Is Included In the balance sheet date as a finance lease obllgatlon. Lease payments a apportioned between finan expenses and reductlon of the lease obligation so as to achleve a constsnt rate of interest on the remalnln8 balan of the Ilability. Finance expenses are recognised immediately. unless they are dirertty attrlbutable to quallfyln8 assets, in which case they are capltallsed Sn accordance wlth the charlws pollcy on borrowln8 costs. Assets held under finance leases are depreciated in the same way as owned assets. Operatlng lease payments are recognised as an expense on a stralght-llne basls over the lease temi. In the event that lease Incentive5 are received to enter into operating leases, such incentives are recognised as a liabi1Sty. The aggregate benefit of inntiveS is recognised as a reduction of rental expense on a straight-line basis. Penslon costs The charlty operates a defined contrlbution plan for its employees. A defined contributlon plan is a pension plan under which the company pays fixed contributions Into a separate entlty. Once the contrSbutlons have been pald the company has no further payments obligations. The contrlbutlons are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. 2 Company ststus The company is a private company limited by guarantee and consequently does not have share capitsl. Page 11
Readlng and East Afrian Communlty NOTES TO THE ACCOUNTS 3 Statement of Flnandal Activities- prior year funds 2024 Total funds 2024 2024 2024 Income and endowments from: Charltable activltles 13,582 13,582 Total 13,582 13,582 Expendlture on: Charltable activitles 720 720 Other Totsl 5.729 5,729 Net Income 7,853 7,853 Net Income before other galns1(10e$j Other galns and losse5: Net movement In funds 7,853 7.853 7,853 7,853 Reconclllatlon of funds: Total funds brought forward Total funds carrled fonNaTd 314,476 314,476 322,329 322,329 4 Income from donatlons and le8a¢les Total 2025 Total 2024 Fundraislng 111 5 Income from charltsble actlvltle5 Unrestrirted Total Totsl 2025 2024 Building fund Madrasah fee 5,510 15.686 4.680 25,876 5.510 15,686 4,680 25.876 4,057 9,525 Friday collection 13,582 Page 12
Reading and East African Communlty NOTE5 TO THE ACCOUNTS 6 Expendlture on tharftable activities Unrestrlcted Totsl 2025 Total 2024 Governance costs Accountancy and audit fees 720 720 720 720 720 720 7 Other expendfture Unrestrfcted Total 2025 Total 2024 Bank loan and overdraft interest payable 527 Motor and travel costs 167 167 Premlses costs 6.742 93 6,742 93 4,340 141 General administrative costs Legal and professional costs 627 627 7,629 7,629 8 Staff ¢ost5 No employee received emoluments In excess of £60.OCX). 9 Tanglble flxed assets Cost or revaluatlon At l Aprll 2024 At 31 March 2025 300,000 300,000 538 538 300,538 300,538 Net book value5 At 31 March 2025 At 31 March 2024 10 Debtors 300,000 300,000 538 538 300,538 300,538 2025 2024 Other debtors 187 187 187 187 11 Credltovs: amounts fallln8 due within one year 2025 2024 Bank loans and overdrafts other loans Accruals and deferred income 10.919 7(X) 721 12,340 15,801 700 721 17.222 Page 13
Reading and East Afrlcan Community NOTES TO THE AccouHfs 12 Movement In funds Incoming resources At31 March 2025 Ilncludlng other At l Aprll galnsnosses 2024 Resources expended Restrfcted funds: Unrestrfrted fund5: General funds 322.330 25,876 (8,349) 339,857 Revaluatlon Reseryes: Total funds 13 Analysls of net assets between funds 322,330 25,876 (8,349) 339,857 Unrestrlcted funds Total Flxed assets 300,538 39,319 339,857 300,538 39,319 339,857 Net current assets 14 Related party dlsclosures Controlllng party The wmpany Is Ilmlted by 8uarantee and has no share ¢apltal; thus no single party controls the company. Page 14
Reading and East Afrlcan Communlty DETAILED STATEMENf OF FINANCIAL ACTNMES for the year ended 31 Mar¢h 2025 Unrestrfcted funds Total funds Total funds 2025 2025 2024 Income and endowments from: Donations and legacies Fundraising 11} (i) Charitable activities Buildin8 fund Madrasah fee Frlday collectlon 5,510 IS,686 4.680 25,876 5,510 15,686 4,680 25,876 4.057 9,525 13.582 Totsl Income and endowments 25,876 25,876 13,581 Expendlture on: Governance costs Accountancy and audlt fees 720 720 720 720 720 720 Totsl of expendlturn on charltable actlvltles 720 720 720 other expendlture Bank loan and overdraft Interest payable 527 527 Motor and travel costs Travel and subslstence 167 167 167 167 Premlses costs Rates Llght, heat and power Premlses repairs and maintenance Other premises costs 820 3,400 4,842 4,842 120 1,900 6,742 6.742 4,340 General admlnistrative costs, including depreclatlon and amortisation Sundry expenses 93 93 93 93 141 141 Legal and profes51onal costs Other legal and professional costs 627 627 627 627 Page 15
Readlng and East African Communlty DETAILED STATEMENT OF FINANCIAL AcllwTIES Total of expenditure of other costs Totsl expendlture Net gains on investments 7,629 7,629 5,008 8,349 8,349 5,728 17,527 17.527 7,853 Net Income Net Income before other 8alnsl(105se5) Other Gains 17.527 17,527 7,853 Net movement In funds 17.527 17,527 7,853 Page 16