Registered Charity Number 1186245
## **NIGERIAN COMMUNITY GREATER MANCHESTER**
## **TRUSTEES REPORT AND ACCOUNTS**
31 December 2023
**NIGERIAN COMMUNITY GREATER MANCHESTER**
**Financial statement**
## **Year ended 31 December 2023**
|**Contents**|**Page**|
|---|---|
|Charity information and professional advisers|3|
|Trustees’ report|4|
|Accountants’ report|6|
|Income statement|7|
|Balance Sheet|8|
|Notes to the financial statements|9|
2
## **NIGERIAN COMMUNITY GREATER MANCHESTER Charity Information Year ended 31 December 2023**
|Registered charity name|NIGERIAN COMMUNITY GREATER MANCHESTER|
|---|---|
|Charity number|1186245|
|Registered office|Nigeria House (Appleby House)|
||Platt Lane|
||Rusholme|
||Manchester|
||M14 5NE|
|Trustees|Abiola Olawale Kumoye_(Chair)_|
||Ehidiamen Aisuebeogun_(Joined 14 May 2023)_|
||Ayodele Oluwasegun Ogunyemi_(Joined 14 May 2023)_|
||Adewale Adeleke Hassan_(Joined 14 May 2023)_|
||Edward Omotoso_(Joined 14 May 2023)_|
||Patrick Funsho Obidoyin|
||Augusta Unoamaka Ugoh|
||Yohanna John Bitrus|
||Elder Mimi Cordelia Veheary|
||Olagoke Oladosu_(Resigned 14 May 2023)_|
|Accountants|BC NWAIWU & CO LTD|
||Building 1 Suit 4A Office 6|
||Wilsons Park Business Centre|
||Manchester|
||M40 8WN|
|Bankers|Royal Bank of Scotland Plc|
||The Co-operative Bank p.l.c.|
3
## **NIGERIAN COMMUNITY GREATER MANCHESTER Trustees’ Report Year ended 31 December 2023**
The Trustees, present their annual report with the unaudited financial statements of the charity for the year ended 31st December 2023. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the Charity's governing document, the Charities Act 2022 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 (effective 1 January 2019).
## **Reference and administrative details**
The Charity is a charitable incorporated organisation and was formed on February 6, 2019 as Nigeria Community Manchester. Following a change of name resolution dated September 11, 2022, the name of the charity was changed to Nigerian Community Greater Manchester.
## **Objectives**
The objects of the charity for the public benefit include;
- a. To relieve and combat poverty, distress, financial hardship, and sickness.
- b. To relieve those in need by reason of youth, age, ill health, disability, unemployment or other disadvantage.
- c. To promote Nigerian art, culture and heritage for the public benefit.
- d. To advance education for the public benefit in Nigerian culture and language.
- e. To advance any such other purpose being exclusively charitable according to the law of England and Wales as the Trustees may from time to time determine.
## **Public Benefit**
The board of trustees have given due consideration to Charity Commission’s published guidance on the operation of the public benefit requirement and confirm that these requirements are met by the charity.
4
**Accountant’s report For the period ended 31 December 2023**
## **NIGERIAN COMMUNITY GREATER MANCHESTER**
## **Going concern**
The trustees have assessed the ability of the charity to continue operating and discharging its role for the foreseeable future, and have made financial projections, taken into consideration the current economic climate because of economic crisis. Economic crisis and its potential impact on the various sources of income and planned expenditure. We have adequate financial resources and are able to manage our business risks.
## **Statement of responsibilities of the trustees**
The trustees are required to prepare financial statements for each financial year, which will give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2022.
Abiola Olawale Kumoye Chair of Trustees
5
## **NIGERIAN COMMUNITY GREATER MANCHESTER**
**Accountant’s report**
## **For the period ended 31 December 2023**
## **Accountants' report to the board of trustees on the preparation of the unaudited statutory accounts of Nigerian Community Greater Manchester for the period ended 31 December 2023.**
In order to assist you to fulfil your duties under the Charity Act 2022, we have prepared for your approval the accounts of Nigerian Community Greater Manchester for the period ended 31 December 2023 which comprise of the Income statement, the Balance Sheet and the related notes from the charity’s accounting records and from information and explanations you have given us.
This report is made solely to the Trustees of Nigerian Community Greater Manchester, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Nigerian Community Greater Manchester and state those matters that we have agreed to state to the Trustees of Nigerian Community Greater Manchester, as a body, in this report to the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nigerian Community Greater Manchester and its Trustees as a body for our work or for this report.
It is your duty to ensure that Nigerian Community Greater Manchester has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position of Nigerian Community Greater Manchester. You consider that Nigerian Community Greater Manchester is exempt from the statutory audit/independent examination requirement for the period.
We have not been instructed to carry out an independent examination or a review of the accounts of Nigerian Community Greater Manchester. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
________________________
BC NWAIWU & CO LTD
Building 1 Suit 4A Office 6 Wilsons Park Business Centre Manchester M40 8WN
Date: 31 October 2024
6
## **NIGERIAN COMMUNITY GREATER MANCHESTER**
## **Income Statement**
## **For the period ended 31 December 2023**
|**Income:**
Note
Donation and legacies
2
Charitable activities
3
**Total income**
**Expenditure on:**
Expenditure on charitable activities
4
Finance cost
5
Surplus/ (deficit)
Net income/(expenditure for the year)
Transfer between funds
Net movement in funds for the year
**Reconciliation of funds**
Total funds brought forward
Restricted funds
Unrestricted funds
**Total funds carried forward**|31st December
2023
5,343
378
5,721
7,002
-
7,002
(1,281)
(1,281)
78
312
390|31st December
2022
4,480
1,626|
|---|---|---|
|||6,106|
|||8,662
-|
|||8,662|
|||(2,556)|
|||(2,556)
334
1,337|
|||1,671|
The notes on pages 9 to 13 form part of these financial statements
7
**NIGERIAN COMMUNITY GREATER MANCHESTER**
## **Balance Sheet**
## **As at 31 December 2023**
|Note
**Fixed Assets**
Tangible assets
**Current Assets**
Cash at bank and in hand
6
Debtors
8
**Less Current Liabilities**
Creditors:_amounts falling due within one year_
9
Net current assets
Total Assets Less Current Liabilities
Creditors:_amounts falling due after one year_
10
**The funds of the charity**
Restricted funds
11
Unrestricted funds
11|31st December
2023
-
840
-
840
(250)
590
590
(200)
390
78
312
390|31st December
2022
-
1,871
-|
|---|---|---|
|||1,871
(200)|
|||1,671
1,671
-|
|||1,671|
|||334
1,337|
|||1,671|
Abiola Olawale Kumoye Chair of Trustees
## Approved by the board on 31 October 2024
The notes on pages 9 to 13 form part of these financial statements
8
**NIGERIAN COMMUNITY GREATER MANCHESTER Notes to the Financial Statements For the period ended 31 December 2023**
## 1. **Accounting Policies**
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## a. **Basis of preparation**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) - (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
Nigerian Community Greater Manchester meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## b. **Judgments and estimates**
The trustees have made no key judgments which have a significant effect on the accounts. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.
## c. **Going concern**
The trustees have reviewed the charity's forecasts and projections and are confident that the charity can fulfil its commitments to its beneficiaries for the period ending 31 December 2024.
## d. **Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are grants and donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.
## e. **Income**
The Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions
9
**NIGERIAN COMMUNITY GREATER MANCHESTER Notes to the Financial Statements For the period ended 31 December 2023**
attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.
## f. **Expenditure**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Costs of generating funds are those incurred in seeking voluntary income and do not include the costs of disseminating information in support of the charitable activities.
Governance costs relate to the general running of the charity as opposed to those costs associated with fundraising or charitable activity. Included within this category are costs associated with internal audit and risk, as well as external audit costs, as opposed to dayto-day management of the charity’s activities.
## g. **Tangible fixed assets**
All expenditure of a capital nature on development work overseas is expensed as incurred, while tangible fixed assets in the UK costing more than £100 are capitalized and included at cost, including any incidental expenses of acquisition. Depreciation is provided on tangible fixed assets at rates calculated to write off the cost by equal annual instalments over their expected useful economic lives as follows:
|Freehold land and buildings|Nil|
|---|---|
|Computer infrastructure|5 years|
|Computer equipment|4 years|
|Furniture, fixtures and equipment|4 years|
Impairment reviews are conducted when events and changes in circumstances indicate that an impairment may have occurred. If any asset is found to have a carrying value materially higher than its recoverable amount, it is written down accordingly.
## h. **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.
## i. **Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party
10
**NIGERIAN COMMUNITY GREATER MANCHESTER Notes to the Financial Statements For the period ended 31 December 2023**
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 allowing for any trade discounts due.
## j. **Company status**
Nigerian Community Greater Manchester is a charitable incorporated organisation, registered with the Charity Commission of England on 11[th] November 2019 with charity number 1186245.
## k. **Members’ subscription**
The annual members’ subscription is £20 and £30 for pensioners and nonpensioners respectively.
## l. **Donations and gifts**
Donations and gifts consist of the total donations from individuals, trusts and corporates, along with income from fundraising events.
|2.
**Donation and legacies**
Donations
Members' subscription
Members' registration
3.
**Charitable activities**
Grants
Venue hire
Other income|31 December
2023
4,213
1,130
5,343
31 December
2023
-
350
28
378|31 December
2022
3,400
1,080
-|
|---|---|---|
|||4,480|
|||31 December
2022
-
-
1,626|
|||1,626|
11
## **NIGERIAN COMMUNITY GREATER MANCHESTER**
## **Notes to the Financial Statements For the period ended 31 December 2023**
|4.
**Expenditure on charitable activities**
Printing and stationery
Telephone charges
Members' welfare
Public relations
Accountancy fee
Professional fees
Support costs
Project costs
5.
**Finance cost**
Finance cost
6.
**Cash at bank and in hand**
Bank balance
Petty cash a/c
7.
**Net income/(expenditure) for the year**
This is stated after charging /(crediting)
Depreciation
8.
**Debtors**
Trade debtors
Other debtors|31 December
2023
-
-
860
-
250
-
3,854
2,038
7,002
31 December
2023
-
-
31 December
2023
840
840
31 December
2023
-
31 December
2023
-
-
-|31 December
2022
-
-
200
-
200
-
1,329
6,933|
|---|---|---|
|||8,662|
|||31 December
2022
-|
|||-|
|||31 December
2022
1,871|
|||1,871|
|||31 December
2022
-|
|||31 December
2022
-
-|
|||-|
12
**NIGERIAN COMMUNITY GREATER MANCHESTER Notes to the Financial Statements**
## **For the period ended 31 December 2023**
|9.
**Creditors**:_amounts falling_
Trade creditors
Other creditors
10.
**Creditors**:_amounts falling_
_year_
Trade creditors
Other creditors
11.
**Fund movements**
Restricted funds
Unrestricted funds
The funds of the charity|_due within one year_
31 December
2023
250
-
250
_due after more than one_
31 December
2023
200
-
200
Balance 01
January 2022
Income
Expenditure
£
£
£
334
1,144
1,400
334
1,144
1,400
1,337
4,577
5,602
1,337
4,577
5,602
1,671
5,721
7,002|_due within one year_
31 December
2023
250
-
250
_due after more than one_
31 December
2023
200
-
200
Balance 01
January 2022
Income
Expenditure
£
£
£
334
1,144
1,400
334
1,144
1,400
1,337
4,577
5,602
1,337
4,577
5,602
1,671
5,721
7,002||31 December
2022
200
-
200
31 December
2022
-
-
-
Balance 31
December 2023
£
78|
|---|---|---|---|---|
||||||
||||||
||||||
||||
||
|||1,400
5,602||78
312|
|||5,602||312|
|||7,002||390|
13