Registered Charity number 1170000 ## ICMG MARGATE Report and Accounts 30 November 2020 ## **ICMG MARGATE Report and accounts Contents** ||**Page**| |---|---| |Company information|1| |Trustees' report|1| |Accountants' report|2| |Receipt & Payment Account|3| |Balance sheet|4| |Notes to the accounts|5| ## **ICMG MARGATE Company Information** ## **Directors** ## **Accountants** Certax Accounting 6-7 Cecil Square Margate Kent CT9 1BD **Registered number** 1170000 1 **ICMG MARGATE Registered number: 1170000 Trusteess' Report** The charity present their report and accounts for the year ended 30 November 2020. ## **Principal activities** The charity's principal activities during the year continued to be cultural activities, education and training, relief of poverty and religious activities. This report was approved by the comittee on 25 March 2020 and signed on its behalf. U Yilmaz Signed on behalf of all the trustees 2 ## **ICMG MARGATE Accountants' Report** ## **Accountants' report to the directors of ICMG MARGATE** You consider that the charity is exempt from an audit for the year ended 30 November 2020. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Charities Act 2011 with respect to accounting records and the preparation of accounts. Members have not required the charity to obtain an audit in accordance with section 476 of the Act. Under charity law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the profit or loss of the charity for that period. In accordance with your instructions, we have prepared the accounts which comprise the Receipts & Payment Account, the Balance Sheet and the related notes from the accounting records of the charity and on the basis of information and explanations you have given to us. We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. Certax Accounting Accountants 6-7 Cecil Square Margate Kent CT9 1BD 25 March 2020 3 ## **ICMG MARGATE Receipt & Payment Account for the year ended 30 November 2020** |**Notes**
**2020**
**£**
**Receipts**
34,192
Administrative expenses
(26,002)
**Excess of Receipts over payments from operations**
2
8,190
8,190
8,190
**Excess of Receipts over payments/(excess of payments**
**over receipts) before taxation**
**Excess of Receipts over payments/(excess of payments**
**over receipts) for the financial year**|**2019**
**£**
33,762
(34,210)
(448)
(448)
(448)| |---|---| 4 ## **ICMG MARGATE Balance Sheet as at 30 November 2020** |**Notes**
**Fixed assets**
Tangible assets
3
**Current assets**
Debtors
4
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
5
**Net current assets**
**Net assets**
**Capital and reserves**
Excess of Receipts over
payments
6
**Net Reserves**|**2020**
**£**
7,709
172
17,071
17,243
(540)
16,703
24,412
24,412
24,412|**2019**
**£**
8,261
81
8,330
8,411
(450)
7,961
16,222
16,222
16,222| |---|---|---| ## U Yilmaz Approved by the trustee on behalf of all the trustees 25 March 2020 5 **ICMG MARGATE Notes to the Accounts for the year ended 30 November 2020** ## **1 Accounting policies** ## _**Basis of preparation**_ The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). ## _**Turnover**_ Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. ## _**Depreciation**_ Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. Plant and machinery 20% straight line Motor vehicles 25% straight line ## _**Stocks**_ Stock is valued at the lower of cost and net realisable value. ## _**Deferred taxation**_ Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. ## _**Foreign currencies**_ Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. ## _**Leasing and hire purchase commitments**_ Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term. ## _**Pensions**_ The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. **2 Excess of Receipts over payments from operations 2020 2019 £** 6 ## **ICMG MARGATE Notes to the Accounts for the year ended 30 November 2020** |This is stated after charging:
Depreciation of owned fixed assets
**3**
**Tangible fixed assets**
**Cost**
At 1 December 2019
At 30 November 2020
**Depreciation**
Charge for the year
At 30 November 2020
**Net book value**
At 30 November 2020
At 30 November 2019
**4**
**Debtors**
Other debtors
**5**
**Creditors: amounts falling due within one year**
Trade creditors
**6**
**Receipt & Payment Account**
At 1 December 2019
Excess of Receipts over payments
At 30 November 2020|**Land and**
**buildings**
**£**
5,500
5,500
-
-
5,500
5,500|552
**Fixture &**
**Fittings**
**£**
2,761
2,761
552
552
2,209
2,761
**2020**
**£**
172
**2020**
**£**
540
**2020**
**£**
16,222
8,190
24,412|563
**Total**
**£**
8,261
8,261
552
552
7,709
8,261
**2019**
**£**
81
**2019**
**£**
450| |---|---|---|---| 7 ## **ICMG MARGATE Profit and Loss Account for the year ended 30 November 2020** _for the information of the directors only_ |**Receipts**
Administrative expenses
**Operating profit/(loss)**
**Excess of Receipts over payments before taxation**|**2020**
**£**
34,192
(26,002)
8,190
8,190|**2019**
**£**
33,762
(34,210)
(448)
(448)| |---|---|---| 8 ## **ICMG MARGATE** ## **Schedule to the Profit and Loss Account for the year ended 30 November 2020** _for the information of the directors only_ |**Receipts**
Donations
Other income
**Administrative expenses**
Employee costs:
Motor expenses
Entertaining
Premises costs:
Rent
Rates
Light and heat
Cleaning
General administrative expenses:
Telephone and fax
Stationery and printing
Bank charges
Insurance
Equipment expensed
Equipment hire
Software
Repairs and maintenance
Depreciation
Charity & Donations
Sundry expenses
Legal and professional costs:
Accountancy fees
Advertising and PR
Other legal and professional|**2020**
**£**
24,192
10,000
34,192
50
-
50
20,620
288
1,492
14
22,414
343
273
182
-
239
-
12
642
552
240
346
2,829
450
-
259
709
26,002|**2019**
**£**
33,762
-
33,762
-
350
350
21,136
2,684
1,158
558
25,536
275
178
-
126
63
101
-
7,111
-
-
-
7,854
450
20
-
470
34,210| |---|---|---| 9