Registered Charity Number 1188045
IGBO WOMEN COMMUNITY (IWC) GREATER MANCHESTER
TRUSTEES REPORT AND ACCOUNTS
31 DECEMBER 2021
IGBO WOMEN COMMUNITY (IWC) GREATER MANCHESTER Financial statement Year ended 31 December 2021
| Contents | Page |
|---|---|
| Charity information and professional advisers | 3 |
| Trustees’ report | 4 |
| Accountants’ report | 5 |
| Income statement | 6 |
| Balance Sheet | 7 |
| Notes to the financial statements | 8 |
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IGBO WOMEN COMMUNITY (IWC) GREATER MANCHESTER Charity Information Year ended 31 December 2021
Registered charity name IGBO WOMEN COMMUNITY (IWC) GREATER MANCHESTER
Charity number 1188045 Registered office 3 Peterchurch Walk Openshaw Manchester M11 2LQ Trustees Chidinma Okenyeka (Chair) Rosemary Chinonso Nwokiwu Anna Ifeoma Okeke Accountants BC NWAIWU & CO LTD Building 1 Suit 4A Office 6 Wilsons Park Business Centre Manchester M40 8WN Bankers Lloyds Bank plc
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IGBO WOMEN COMMUNITY (IWC) GREATER MANCHESTER Trustees’ Report Year ended 31 December 2021
The trustees present their report and accounts for the period ended 31st December 2021.
Governing Document
Igbo Women Community (IWC) Greater Manchester is a charitable incorporated organisation (CIO) governed by its constitution dated February 18, 2020.
Principal activities
The charity’s principal activity during the year continued to be the promotion of opportunities that relieve and combat poverty, distress, financial hardship, and sickness, particularly through the advancement of Igbo art, culture and heritage.
Trustees
The following person served as trustees during the period:
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Chidinma Okenyeka (Chair)
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Rosemary Chinonso Nwokiwu
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Anna Ifeoma Okeke
Our Objects
The objects of the charity for the public benefit include;
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a. To relieve and combat poverty, distress, financial hardship, and sickness.
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b. The relief of the physical and mental sickness of persons in need by reason of youth, age, ill health, disability, unemployment or other disadvantage, in particular by the provision of counselling, support and networking opportunities.
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c. To promote Igbo art, culture and heritage as a means of promoting social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those who are socially excluded and assisting them to integrate into society.
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d. To advance education for the public benefit in Igbo culture and language.
In planning and executing the activities during the year, the trustees ensured that the guidance on public benefit issued by the Charity Commission was taken into consideration.
Chidinma Okenyeka Chair of Trustees
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IGBO WOMEN COMMUNITY (IWC) GREATER MANCHESTER Accountant’s report For the period ended 31 December 2021
Accountants' report to the board of trustees on the preparation of the unaudited statutory accounts of Igbo Women Community (IWC) Greater Manchester for the period ended 31 December 2021.
In order to assist you to fulfil your duties under the Charity Act 2022, we have prepared for your approval the accounts of Igbo Women Community (IWC) Greater Manchester for the period ended 31 December 2021 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 Igbo Women Community (IWC) Greater Manchester, as a body, in accordance with the terms of our engagement dated 28[th] September 2022. Our work has been undertaken solely to prepare for your approval the accounts of Igbo Women Community (IWC) Greater Manchester and state those matters that we have agreed to state to the Trustees of Igbo Women Community (IWC) 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 Igbo Women Community (IWC) Greater Manchester and its Trustees as a body for our work or for this report.
It is your duty to ensure that Igbo Women Community (IWC) 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 Igbo Women Community (IWC) Greater Manchester. You consider that Igbo Women Community (IWC) 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 Igbo Women Community (IWC) 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
BC NWAIWU & CO LTD
Building 1 Suit 4A Office 6 Wilsons Park Business Centre Manchester M40 8WN
Date: 13 October 2022
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IGBO WOMEN COMMUNITY (IWC) GREATER MANCHESTER Income Statement For the period ended 31 December 2021
| Income: Note Members' subscription 4 Members' registration Donation Grants Other income Expenditure: Printing and stationery Telephone charges Members' welfare Public relations Accountancy Fee Professional fees Governance and support costs COVID-19 (support to families) General expenses Surplus/ (deficit) 7 |
2021 368 50 - 11,000 - 11,418 201 - 621 299 250 100 250 6,500 850 9,071 2,347 |
2020 3,110 100 - - - |
|---|---|---|
| 3,210 - - 200 - 250 - - - 200 |
||
| 650 | ||
| 2,560 |
The notes on pages 8 to 10 form part of these financial statements
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IGBO WOMEN COMMUNITY (IWC) GREATER MANCHESTER Balance Sheet As at 30 31 December 2021
| Note Fixed Assets Tangible assets Current Assets Cash at bank and in hand 2 Debtors 3 Less Current Liabilities Creditors:amounts falling due within one year 5 Net current assets Total Assets Less Current Liabilities Creditors:amounts falling due after one year Financed By Accumulated Fund 6 Less: Excess expenditure over income for the year 7 |
3,656 70 |
2021 - 3,376 3,376 - 3,376 1,029 2,347 3,376 |
1,029 2,750 |
2020 - 3,529 |
|---|---|---|---|---|
| 3,726 (350) |
3,779 (250) |
|||
| 3,529 - |
||||
| 3,529 | ||||
| 969 2,560 |
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| 3,529 |
Chidinma Okenyeka Chair of Trustees
Approved by the board on 13 October 2021
The notes on pages 8 to 10 form part of these financial statements
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IGBO WOMEN COMMUNITY (IWC) GREATER MANCHESTER Notes to the Financial Statements For the period ended 31 December 2021
1. Accounting Policies
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).
Igbo Women Community (IWC) 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.
Company status
Igbo Women Community (IWC) Greater Manchester is a charitable incorporated organisation, registered with the Charity Commission of England on 18[th] February 2020 with charity number 1188045.
Incoming resources
All incoming resources are included in the SOFA when the company is legally entitled to the income, is reasonably certain of receipt and the amount can be measured with sufficient reliability. In accordance with the SORP, no value has been attributed to the work performed by volunteers, although their work is considered vital to the activities of the company.
Members’ subscription
The monthly members subscription is £10.
Donations and gifts
Donations and gifts consist of the total donations from individuals, trusts and corporates, along with income from fundraising events.
Resources expended
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 day-to-day management of the charity’s activities.
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IGBO WOMEN COMMUNITY (IWC) GREATER MANCHESTER Notes to the Financial Statements For the period ended 31 December 2021
| 2. Cash at bank and in hand Bank balance Petty cash a/c 3. Debtors Subscription in arrears Other debtors 4. Members Subscription Subscription received during current year Less: Balance b/d - arrears Add: Balance b/d - advance Add: Balance c/d - arrears Less: Balance c/d - advance Income and Expenditure a/c 5. Creditors:amounts falling due within one year Subscription in advance Trade creditors Other creditors |
31 December 2021 3,656 - 3,656 31 December 2021 70 - 70 31 December 2021 298 - 298 70 - 368 31 December 2021 - 100 250 350 |
31 December 2020 1,029 - |
|---|---|---|
| 1,029 | ||
| 31 December 2020 2,750 - |
||
| 2,750 | ||
| 31 December 2020 360 - - |
||
| 360 2,750 - |
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| 3,110 | ||
| 31 December 2020 - - 250 |
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| 250 |
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IGBO WOMEN COMMUNITY (IWC) GREATER MANCHESTER Notes to the Financial Statements For the period ended 31 December 2021
| 6. Accumulated Fund as at 1st January 2021 Assets Bank Balance Cash in hand Prepayment Other debtors Subscription in arrears 7. Surplus/ (deficit) Income Members' subscription Members' registration Donation Grants Other income Less Expenditure Printing and stationery Telephone charges Members' welfare Public relations Accountancy Fee Professional fees Governance and support costs COVID-19 (support to families) General expenses |
31 December 2021 - 1,029 - - - - 1,029 31 December 2021 368 50 - 11,000 - 11,418 201 - 621 299 250 100 250 6,500 850 9,071 2,347 |
31 December 2020 - 969 - - - - |
|---|---|---|
| 969 | ||
| 31 December 2020 3,110 100 - - - |
||
| 3,210 - - 200 - 250 - - - 200 |
||
| 650 | ||
| 2,560 |
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