REGISTERED COMPANY NUMBER: 09154454 (England and Wales) REGISTERED CHARITY NUMBER: 1179139
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2022
for
Brighton Faith Association
ASM Chartered Accountants ASM House 103a Keymer Road Hassocks West Sussex BN6 8QL
Brighton Faith Association
Contents of the Financial Statements for the Year Ended 31 March 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Statement of Financial Activities | 2 | ||
| Balance Sheet | 3 | to | 4 |
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
Brighton Faith Association
Report of the Trustees for the Year Ended 31 March 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. 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 Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
09154454 (England and Wales)
Registered Charity number
1179139
Registered office
ASM House 103A Keymer Road Hassocks West Sussex BN6 8QL
Trustees
Mr Emad Herandi Mrs Alyaa Hassoun Mr Jacob Herandi
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Mr Emad Herandi - Trustee
Page 1
Brighton Faith Association
Statement of Financial Activities for the Year Ended 31 March 2022
| 31.3.22 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 251 Investment income 2 41,150 Total 41,401 EXPENDITURE ON Raising funds 23,951 Charitable activities Newman Catholic College 5,361 Al-Ayn Social Care - Iraqi Orphan Foundation - The Imam Hussein Fund (Afghan Food Appeal) 2,500 Other 1,018 Total 32,830 NET INCOME 8,571 RECONCILIATION OF FUNDS Total funds brought forward 854,473 TOTAL FUNDS CARRIED FORWARD 863,044 |
31.3.21 Total funds £ (1) 40,835 40,834 15,128 3,750 1,250 750 - 169 21,047 19,787 834,686 854,473 |
|---|---|
The notes form part of these financial statements
Page 2
Brighton Faith Association
Balance Sheet 31 March 2022
| Notes FIXED ASSETS Tangible assets 5 CURRENT ASSETS Debtors 6 Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 8 NET ASSETS FUNDS 10 Unrestricted funds TOTAL FUNDS |
31.3.22 Unrestricted fund £ 1,750,000 3,575 2,817 6,392 (4,295) 2,097 1,752,097 (889,053) 863,044 863,044 863,044 |
31.3.21 Total funds £ 1,750,000 3,575 818 4,393 (4,055) 338 1,750,338 (895,865) 854,473 854,473 854,473 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 3
Brighton Faith Association
Balance Sheet - continued 31 March 2022
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mr Emad Herandi - Trustee
The notes form part of these financial statements
Page 4
Brighton Faith Association
Notes to the Financial Statements for the Year Ended 31 March 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 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' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| Rents received | 41,150 | 40,835 |
Page 5
continued...
Brighton Faith Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
5.
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Charitable activities Newman Catholic College Al-Ayn Social Care Iraqi Orphan Foundation Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD TANGIBLE FIXED ASSETS COST At 1 April 2021 and 31 March 2022 NET BOOK VALUE At 31 March 2022 At 31 March 2021 |
Unrestricted fund £ (1) 40,835 40,834 15,128 3,750 1,250 750 169 21,047 19,787 834,686 854,473 Freehold property £ 1,750,000 1,750,000 1,750,000 |
|---|---|
Page 6
continued...
Brighton Faith Association
| Notes to the Financial Statements-continued | Notes to the Financial Statements-continued | ||||
|---|---|---|---|---|---|
| for the | Year Ended 31 March 2022 | ||||
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31.3.22 | 31.3.21 | ||||
| £ | £ | ||||
| Deposit Protection Scheme | 3,575 | 3,575 | |||
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31.3.22 | 31.3.21 | ||||
| £ | £ | ||||
| Tenants Deposits | 3,575 | 3,575 | |||
| Accrued expenses | 720 | 480 | |||
| 4,295 | 4,055 | ||||
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||
| 31.3.22 | 31.3.21 | ||||
| £ | £ | ||||
| Bank loans (see note 9) | 10,208 | 12,250 | |||
| Other creditors | 878,845 | 883,615 | |||
| 889,053 | 895,865 | ||||
| 9. | LOANS | ||||
| An analysis of the maturity of loans is given below: | |||||
| 31.3.22 | 31.3.21 | ||||
| £ | £ | ||||
| Amounts falling due between two and five years: | |||||
| Bounceback Loan | 10,208 | 12,250 | |||
| 10. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At 1.4.21 | in funds | 31.3.22 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 854,473 | 8,571 | 863,044 | ||
| TOTAL FUNDS | 854,473 | 8,571 | 863,044 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 41,401 | (32,830) | 8,571 | ||
| TOTAL FUNDS | 41,401 | (32,830) | 8,571 |
continued...
Page 7
Brighton Faith Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.4.20 £ Unrestricted funds General fund 834,686 TOTAL FUNDS 834,686 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 40,834 TOTAL FUNDS 40,834 |
Net movement At in funds 31.3.21 £ £ 19,787 854,473 19,787 854,473 Resources Movement expended in funds £ £ (21,047) 19,787 (21,047) 19,787 |
At 31.3.21 £ 854,473 |
At 31.3.21 £ 854,473 |
|---|---|---|---|
| 854,473 | |||
| 19,787 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.20 £ 834,686 834,686 |
Net movement in funds £ 28,358 28,358 |
At 31.3.22 £ 863,044 |
|---|---|---|---|
| 863,044 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 82,235 | (53,877) | 28,358 |
| TOTAL FUNDS | 82,235 | (53,877) | 28,358 |
continued...
Page 8
Brighton Faith Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
11. RELATED PARTY DISCLOSURES
The amount due to the Trustees at the period end 31st March 2019 was £933,535 and this amount is disclosed in note 9 of the Financial Statements.
Page 9
Brighton Faith Association
Detailed Statement of Financial Activities for the Year Ended 31 March 2022
| Detailed Statement of Financial Activities for the Year Ended 31 March 2022 |
||
|---|---|---|
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | 1 | (1) |
| Donations | 250 | - |
| 251 | (1) | |
| Investment income | ||
| Rents received | 41,150 | 40,835 |
| Total incoming resources | 41,401 | 40,834 |
| EXPENDITURE | ||
| Other trading activities | ||
| Lecture Fees | 20,000 | 11,250 |
| Charitable activities | ||
| Donations to institutions | 7,813 | 5,750 |
| Other | ||
| Rates & Water | 648 | 17 |
| Light & Heat | - | 122 |
| Household & Cleaning | 370 | 30 |
| 1,018 | 169 | |
| Support costs | ||
| Management | ||
| Insurance | 1,854 | 1,617 |
| Telephone | 575 | 545 |
| Accountancy | 720 | 480 |
| 3,149 | 2,642 | |
| Information technology | ||
| Repairs and renewals | 535 | 1,196 |
| Sundries | 80 | 40 |
| 615 | 1,236 | |
| Governance costs | ||
| Bank interest | 235 | - |
| Total resources expended | 32,830 | 21,047 |
| Net income | 8,571 | 19,787 |
This page does not form part of the statutory financial statements
Page 10