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← Nhanced Communities

2024-06-06-accounts

Charity registration number 1185360

NHANCED COMMUNITIES

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 6 JUNE 2023

NHANCED COMMUNITIES

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Charity number

Tauqir Ahmed 1185360

NHANCED COMMUNITIES

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 9

NHANCED COMMUNITIES

TRUSTEES' REPORT

FOR THE YEAR ENDED 6 JUNE 2023

The trustees present their annual report and financial statements for the year ended 6 June 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and "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).

Objectives and activities

Nhanced communities acts as a resource for young people up to the age of 18 living in the United Kingdom by providing advice and assistance and organising programmes of physical, educational and the other activities as a means of:

a) Advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals

b) Advancing education

Public benefit

The charity meets the Charity Commissions public benefit criteria under both the advancement of education and the advancement of citizenship or community development objectives.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Significant activities and achievements against objectives

Financial review

The Charity has managed to bring in a stable stream of donations and has kept costs at a minimum. The charity also achieved significant results in the most cost effective ways possible which is reflected by the retained funds by the charity. The funds can be used to start new charitable projects.

Future Plans

Nhanced Communities is a well established charity organisation supporting all communities and families across Leicester. Our future aim includes:

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Structure, governance and management

The charity is controlled by its governing document, a constitution and constitutes as charitable incorporated organisation - association model.

NHANCED COMMUNITIES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 6 JUNE 2023

The trustees who served during the year and up to the date of signature of the financial statements were: Tauqir Ahmed

Recruitment and appointment of trustees

None of the trustees has any beneficial interest in the charity.

Organisational structure

Nhanced Communities was established in 2019 as charitable incorporated Organisation. The charity currently has 1 trustees. The charity is being managed and administered by its trustee.

The Trustees' report was approved by the Board of Trustees.

Tauqir Ahmed Trustee

8 August 2024

NHANCED COMMUNITIES

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NHANCED COMMUNITIES

I report to the trustees on my examination of the financial statements of NHANCED COMMUNITIES (the charity) for the year ended 6 June 2023.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Babar Ali FCCA

Ford Rhodes Accountants Limited Rowan House Delamare Road Cheshunt Waltham Cross EN8 9SP

Dated: 8 August 2024

NHANCED COMMUNITIES

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 6 JUNE 2023

Unrestricted Unrestricted
funds funds
2023 2022
Notes £ £
Income from:
Donations and legacies 3 181,490 180,720
Total income 181,490 180,720
Expenditure on:
Charitable activities 4 181,420 180,105
Total expenditure 181,420 180,105
Net income and movement in funds 70 615
Reconciliation of funds:
Fund balances at 7 June 2022 615 -
Fund balances at 6 June 2023 685 615

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

NHANCED COMMUNITIES

BALANCE SHEET

AS AT 6 JUNE 2023

2023
Notes
£
Current assets
Cash at bank and in hand
685
Net current assets
Net assets excluding pension liability
The funds of the charity
Unrestricted funds
The financial statements were approved by the trustees on 8 August 2024
Tauqir Ahmed
Trustee		 £
685
685
685
685		 2022
£
615		 £
615
615
615
615

NHANCED COMMUNITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 JUNE 2023

1 Accounting policies

Charity information

NHANCED COMMUNITIES is a INSERT CONSTITUTIONAL DETAIL.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

NHANCED COMMUNITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 6 JUNE 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.7 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

NHANCED COMMUNITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 6 JUNE 2023

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Donations and gifts 181,490 180,720

4 Expenditure on charitable activities

Charitable Charitable
expenditure expenditure
2023 2022
£ £
Direct costs
Rent 180,000 180,000
Clothing 20 44
Repairs and maintenance 13 6
Postage 2 -
Travelling 92 -
Subscription 220 -
General expenses 1,073 55
181,420 180,105
Analysis by fund
Unrestricted funds 181,420 180,105
5 Net movement in funds 2023 2022
£ £
The net movement in funds is stated after charging/(crediting):

6 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

NHANCED COMMUNITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 6 JUNE 2023

7 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

8 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

9 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 7 June Incoming Resources At 6 June
2022 resources expended 2023
£ £ £ £
General funds 615 181,490 (181,420) 685
Previous year: At 7 June Incoming Resources At 6 June
2021 resources expended 2022
£ £ £ £
General funds - 180,720 (180,105) 615

10 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).