Charity number: 1176218 Mercy Media Report of the Trustees and Unaudited Financial Statements For the year ended 31 December 2023
Mercy Media Contents Page For the year ended 31 December 2023 Report of the Trustees Independent Examinerfs Report to the Trustees Statement of Financial Activities Statement of Financial Position Notes to the Financial Statements Detailed Statement of Financial Activities
Mercy Media Report of the Trustees For the year ended 31 December 2023 The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 December 2023. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. REFERENCE AND ADMINISTRATIVE INFORMATION Name of Charity Charity registration number Principal address Mercy Media 1176218 PO Box 7791 London NW26 9QH Trustees The trustees and officers serving during the year and since the year end were as follows: Sandra Saidi Yasin Saidi Omar Saidi Secretary Sandra Saidi Independent examiner Nesar Ali Chartered Certified Accountant 121 Violet Avenue Hillingdon Middlesex UB8 3PT Bankers Metro Bank One Southampton Row London WC1B SHA Approved by the Board of Trustees and signed on its behalf by Q.mar.Saidi...... 1of7
Mercy Media Independent Examiners Report to the Trustees For the period ended 31 December 2022 I report on the accounts of the charity for the period ended 31 December 2022, which comprise the Statement of Financial Activities, the Statement of Financial Position and the related notes. 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 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is required. It is my responsibility to: examine the accounts under section 145 of the 2011 Act; to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act); and to state whether particular matters have come to my attention. Basis of independent examinerfs 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 conceming a ny 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: (1) which gives me reasonable cause to believe that, in any material respect, the requirements: to keep accounting records in accordance with 130 of the 2011 Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met, or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Nesar Ali Chartered Certified Accountant 121 Violet Avenue Hillingdon Middlesex UB8 3PT 2of7
Mercy Media Statement of Financial Activities For the year ended 31 December 2023 Notes Unrestricted funds 2022 Income and endowments from: Charitable activities Total 647,150 647,150 469,064 469,064 Expenditure on: Charitable activities Total (174,626) (174,626) (69,134) (69,134) Net income 472,524 399,930 Reconciliation of funds Total funds brought forward Total funds carried forward 705,481 1,178,005 305,551 705,481 3of7
Mercy Media Statement of Financial Position As at 31 December 2023 Notes 2023 2022 Fixed assets Tangible assets 9,540 9,540 2,125 2,125 Current assets Cash at bank and in hand 1,169,065 1,169,065 703,956 703,956 (600) Creditors: amounts falling due within one year (600) Net current assets 1,168,465 1,178,005 703,356 705,481 Total assets less current liabilities Net assets 1,178,005 705,481 The funds of the charity Unrestricted income fvnds 1,178,005 1,178,005 705,481 705,481 Total funds The financial statements were approved and authorised for issue by the Board and signed on its behalf by: Omar Saidi Trustee 4of7
Mercy Media Notes to the Financial Statements For the year ended 31 December 2023 1. Accounting Policies Basis of accounting The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Ststement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),, Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act2011. Mercy Media meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). Going concern The Charity has had a successful year in the preparation of broadcast of numerous media productions via various social media platforms. The charity remains in a very strong position relating to future growth. No short term or medium term financial risk to the charity's continued operations has been identified. The trustees have agreed to maintain at least six months of reserve in order to meet operational costs in the event of a lack of new income in the form of donations or other potential revenue. The trustees assess the adequacy of this policy annually. The trustees are of an opinion that there are no going concem issues and the Charity will continue to deliver its aims and objectives in the foreseeable future. Incoming resources All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. Tangible fixed assets Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Plant and machinery . 15 % Reducing balance 2. Net incomel(expenditure) for the year This is stated after charging/(crediting): 2023 2022 Depreciation of owned fixed assets 1,683 375 3. Trustee remuneration and related party transactions All trustees acted on a voluntary basis and therefore no remuneration or expenses were paid by the charity. There were no related paty transactions during the financial year. 5of7
Mercy Media Notes to the Financial Statements Continued For the year ended 31 December 2023 4. Tangible fixed assets Plant and Machinery Cost or valuation At 01 January 2023 Additions 2,941 9,098 12,039 At 31 December 2023 Depreciation At 01 January 2023 Charge for year At 31 December 2023 Net book values 816 1,683 2,499 At 31 December 2023 9,540 At 31 December 2022 2,125 5. Creditors: amounts falling due within one year 2023 2022 Accruals and deferred income 600 600 600 600 6of7
Mercy Media Detailed Statement of Financial Activities For the year ended 31 December 2023 2023 2022 INCOME AND ENDOWMENT Charitable activities Media Streaming 647,150 469,064 647,150 469,064 Total incoming resources EXPENDITURE Charitable activities Charitable Activities Depreciation - Owned Assets Legal & Professional Marketing Computing Transport & Logistics Media Production Postage, Packaging & Stationery Rent General Expenses Accountancy Fees Light & Heat 647,150 469,064 (61,000) (1,683) (4,360) (106) (941) (375) (7,583) (97) (1,894) (10,109) (2,959) (504) (39,550) (3,391) (600) (2,072) (64,153) (258) (37,290) (2,348) (600) (1,887) (174,626) (69,134) Total resources expended (174,626) (69,134) Net Income 472,524 399,930 7of7 This page does not form part of the statutory financial statements