2022-08-31-accounts - M&c Foundation Ltd

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M&C Foundation

Annual Report and Accounts st For the year ended 31 August 2022

Charity No: 1190164

Company No: 11512483

M&C FOUNDATION

Contents Page
Trustees’ Annual Report (Incorporating Director’s Report 2 - 6
Independent Examiner’s Report 7 - 8
Statement of Financial Activities 9
Balance Sheet 10 -11
Notes to the Accounts 12 - 19

M&C FOUNDATION

Trustees’ Annual Report for the year ending 31st August 2022

The trustees, who are also the directors for the purposes of company law, present their report and the independently examined financial statements of the charity for the year ended 31 August 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered charity name: M&C Foundation Charity registration number: 1190164 Company registration number: 11512483

Registered office: 5A Uxbridge Road, Shepherd’s Bush, London, W12 8LJ

Trustees:

Assad Gulaid Ayaanle – Chairperson Miss Hamdi Suleyman - Treasurer Abdimajib Said – Vice Treasurer Miss Malel Barre – Vice - Secretary

Company Secretary: Mohamed Sharif Abdulkadir

Independent Examiner:

BK Community Accountant Ltd Chartered Certified Accountant Arches 420-421 Burdett Road, London, E3 4AA

Bankers:

Metro Bank, 137 Chiswick High Road London, W4 2ED

M&C Foundation Management Committee Report

The M&C Foundation Ltd is a voluntary organization established on the 13 August 2018 to support the need of ethnic Minority Communities in the United Kingdom

The organization’s works focus on supporting migrants, refugees and asylum seekers in the UK including children and young people

The M&C Foundation ltd Community Association ’s Objectives as laid out in its constitution are:

For the benefit of the public, specifically, mothers, children and young people, to promote amateur sport activities which promote good health and wellbeing.
To advance the education of the beneficiaries in the subjects of numeracy, Maths and Literacy skills
To advance the education of employment skills of the beneficiaries in the subjects of IT, CV building, interview technique, job search and writing job applications
To promote social cohesion and reduce isolation of the beneficiaries through recreational activities including outing, dancing and social clubs.

Achievement and Performance

M&C Foundation undertook number of activities over the last year which includes the following:

We organised a health promotion program through martial Art activities where we supported 15 young people to improve their life skills, health, and self-confidence.
We provided training for employment that benefited 26 unemployed service users. The Participants improved their employability opportunities, and we are pleased to report that 13 of them have been able to secure part- and full-time employment.

We provided advice, information and referral services on education, welfare benefit and housing. The service helped 76 service users make informed decisions and improve their ability to seek their full rights.
We facilitated volunteering opportunities for 4 local volunteers to volunteer with M&C Foundation’s activities and projects.
We delivered after school clubs for young people, this enabled participants to improve their performance at school and educational attainments.
We provided hot meals for 11 homeless persons in London of Hammersmiths and Fulham on the height of the lockdown.
We provided food parcels and essential goods for 300 families for last 12 months supporting families impacted by Covid-19.

M&C Foundation’s Strategic Plan for 2020-2021

There was no year like 2021, number of our beneficiaries and their families perished due to Covid-19, which has been a very challenging for the organisation and its service users. Covid-19 presents number of challenges for our service users both emotionally and economically. We have to adapt and change as organisation as we face this global disaster and with that in mind, the trustees agreed to undertake the followings for 2021/2022.

We will continue to deliver 12 months of employment sessions to support local people back into work this year, we are already experiencing high number of participants seeking employment support, and we anticipate supporting 40-60 people.
We will work with specialist organisations to increase our advice and referrals sessions to support more users in need of education, training and welfare entitlement.
We will continue to run Martial Art activities to improve support 22 young people’s life skills and health.
We will undertake a series of workshops on financial resilient for women on money management skills, savings, budgeting etc. We anticipate supporting about 60 women over the next 10 months.

We will undertake extensive digital homework club to support 30 young people improve their school performance and attainments.
We planned to deliver hots meals, food parcels and essential goods to 160 families over the next 6 months, these families are struggling to pay for their essential food and goods.

Financial Review

This Financial year we had unrestricted income of £7,732 and restricted income of £36,296. Total income was £44,028. We had a net Movement of fund of £1,010 on the unrestricted income and (10,788) on restricted income. The charity had unrestricted reserves of £18,390 and restricted reserves £12,978. The end of 21/22 total Reserves £31,368.

Public benefit statement

In shaping our objectives for the year and planning our activities, the trustees have considerer’s 17 of the Charity Act 2011 and the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit’ running a charity (PD2). The achievements above demonstrate the public benefit arising from the Charity’s activities.

Reserves Policy

M&C Foundation’s reserves policy is to maintain a level of unrestricted and

undesignated reserves equivalent to 3-6 months' turnover

Risk Management

The trustees have assessed the major risks to which M&C Foundation is exposed and are satisfied that systems are in place to mitigate exposure to the major risks including maintaining a risk register, which is reviewed annually.

Investment Policy

The Charity does not produce a sufficient surplus to invest, as priority must be given to building our unrestricted resaves.

Plans for future periods

We have developed strong income generation strategy to generate income from trusts, foundations and individual donors. We have put in place a strategy ensure we can continue to secure institutional income from individuals and grant-making institutions.

Trustees’ responsibilities

Charity law requires trustees, to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the company and of the results of the company at that period. In preparing those financial statements, the directors are required to:

select suitable accounting policies and then apply them consistently.
make judgments and estimates that are reasonable and prudent.
state whether applicable accounting standards have been followed, subject to any materials departures disclosed and explained in the financial statements.
prepare the financial statements on the going concern basis unless it is inappropriate to assume that the company will continue on that basis.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable it to ensure that the financial statements comply with the charity Act.

They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps and detect fraud and other irregularities.

Independent Examiners

The Charity appointed BK Community Accountant Ltd as our independent examiner. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with M&C Foundation’s Memorandum and Articles, the Companies Act 2006 and the Statement of Recommended Practice "Accounting and Reporting by Charities", issued in March 2005. The trustees' annual report (incorporating the directors' report) and the strategic report were approved on 13[th] of October 2022 and signed on behalf of the board of trustees by:

Assad Gulaid Ayaanle

Chairperson

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF M&C FOUNDATION YEAR ENDED 31[st] AUGUST 2022

I report to the trustees on my examination of the financial statements of M&C Foundation (‘the charity’) for the year ended 31[st] August 2022.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006(‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for Independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent Examiner’s Statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Certified Chartered Accountants (ACCA), which is one of the listed bodies.

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;

Accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
The financial statements do not accord with those records; or
The financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which

is not a matter considered as part of an independent examination: or

The financial statements have not been prepared in accordance with the methods and principles of the statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).

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

Signed: Md Iqbal Hossain MBA, ACCA BK COMMUNITY ACCOUNTANT LTD Chartered Certified Accountant Arches 420-421 Burdett Road, London. E3 4AA.

Date: 13/10/2022

M&C FOUNDATION Statement of Financial Activities

31st August 2022

Incoming / Expenditure Resources	Note	Unrestrict ed Funds	Restricte d Funds	TOTAL Funds 2022	TOTAL Funds 2021
Income and endowments:		£	£	£	£
Donations & Member	7	1,010	-	1,010	15,102
Grants from Government and other Charities	7	6,722	36,296	43,018	60,238
Total Income		7,732 ========	36,296 =======	44,028 =======	75,340 ======
Expenditure:
Charitable Activities	8	6,722	47,084	53,806	67,682
Total expenditure		6,722 =======	47,084 =======	53,806 =======	67,682 ======
Net Income & net movement in funds		1,010 =======	(10,788) =======	(9,778) =======	7,658 ======
Reconciliation of funds:
Total funds brought forward		17,380	23,766	41,146	33,488
Total funds carried forward	16	18,390 ========	12,978 =======	31,368 =======	41,146 ======

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

The notes on page 13 to 19 from part of these financial statements.

M&C FOUNDATION Company Limited by Guarantee Statement of financial position

M&C FOUNDATION Company Limited by Guarantee Statement of financial position	M&C FOUNDATION Company Limited by Guarantee Statement of financial position	M&C FOUNDATION Company Limited by Guarantee Statement of financial position	M&C FOUNDATION Company Limited by Guarantee Statement of financial position	M&C FOUNDATION Company Limited by Guarantee Statement of financial position	M&C FOUNDATION Company Limited by Guarantee Statement of financial position
31st August 2022

FIXED ASSETS	Note		2022		2021
		£	£	£	£
Tangible Fixed Assets				8,893 -------	3,103 --------

Current Assets

Cash at Bank and hand			18,853		34,743
Debtors	14		4,800		4,900
Total Current Assets			23,653 -------		39,643 -------

Current Liabilities

Creditors: Amounts falling due within oneyear	15		(1,178) -------		(1,600) ---------
Net current Assets				22,475 --------	38,043 ----------
Net Assets				31,368 ======	41,146 ======

Funds of the charity:

Unrestricted Funds	16		18,390		17,380
Restricted Funds	16		12,978		23,766
Total Charity Funds				31,368 ======	41,146 ======

For the year ending 31[st] August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small Companies regime and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

These financial statements were approved by the board of trustees & authorised for issue on 13[th] October 2022, and are signed on behalf of the board by:

Signed ______ Name: Assad Gulaid Ayaanle – Chairperson

The notes on page 13 to 19 form part of these financial statements.

Notes to the financial statements

Year ended 31[st] August 2022

1. General Information

The Charity is a private Company Limited by Guarantee, registered in England & Wales and a registered charity in England & Wales. The address of the registered office is 5A Uxbridge Road, Shepherd’s Bush, London, W12 8LJ.

2. Statement of Compliance

These financial statements have been prepared in compliance with FRS102,’ The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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) (charities SORP(FRS 102)) and the charities Act 2011.

3. Accounting policies

Incoming resources

Voluntary income and donation are included in incoming resources when they are receivable except when the donors specify that they must be used in future accounting periods or donor’s conditions have not been fulfilled, then income is deferred. The income from fundraising ventures is shown gross.

Donated services and facilities

Income from donated services and facilities is included in incoming resources at a valuation, which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised when there is no financial cost borne by a third party.

Resources expended

Resources expended are included in the statement of financial activities on an accruals basis, inclusive of any VAT, which cannot be recovered. Expenditure, which is directly attributable to specific activities, has been included in these cost categories, where costs are attributable to more than one activity, they have been apportioned across the cost of generating funds on a basis consistent with the use of these resources.

Cost of generating funds includes salaries, direct expenditure and overhead costs of the staff who promote fundraising including events.

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Funds

Restricted funds are to be used for specific purpose as laid down by the donor. Expenditure, which meets these criteria, is charged to the fund together with a fair allocation of management and support costs. Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the management committee for particular purposes.

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income & expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity’s ability to continue.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemption: No cash flow statement has been presented for the company.

Judgements and Key Sources of Estimation Uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity’s purpose.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub- classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity: it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipts is probable and its amount can be measured reliably.
Legacy income is recognised when receipt is probable and entitlement is established.
Income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value can be reliably measured. No amounts are included for the contribution of general volunteers.
Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned it unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

Expenditure on raising funds includes the costs of all fundraising activities, events non-charitable trading activities and the sale of donated goods.
Expenditure on charitable activities includes all costs incurred by a charity in under taking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible Assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of assets, less its residual value, over the useful economic life of those assets as follows: Furniture & equipment 20% reducing balance

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Limited by guarantee

The company is limited by guarantee without share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member.

5. Pensions and other post - retirement benefits

All staff has been offered a pension contribution recognised by HMRC. All staff has opted out so there are no pension assets to administer and there is no other post – retirement benefits funded by the charity.

6. Financial Instruments:

Carrying amount: Debt instruments on the balance sheet represent real and fair value. Financial liabilities on the balance sheet represent real and fair value.

7. Income from donations and legacies

Grants, donations and legacies:	Unrestricted Funds	Restricted Funds	2022	2021
	£	£	£	£
Donations:
Fundraising and Donations	1,010	-	1,010	15,102
Public Sector & Trusts:
Comic Relief(ATM)	-			10,000
LBH&F(Fast track)	-			3,000
Voice 4 Change England	-			9,910
Awards for All(Big Lottery Fund)	-	-	-	-
JOHN LYONS CHARITY	-	5,000	5,000	-
United in H&F Spring	-	2,000	2,000	3,000
Lola’s Cupcakes Ltd	-			2,000
ASVO	-	-	-	-
London Community Foundation	-	9,446	9,446	9,928
LBHF	6,722	-	6,722	9,000
Hammersmith United Charities	-	19,850	19,850	13,400
TOTAL	7,732 ========	36,296 =======	44,028 ======	75,340 ======

8. Expenditure on Charitable Activities by Activity type:

Charitable activities & Support Cost	Services			Total	Total 2021
		Governa	Fund	Funds
		nce	raising	2022
	£	£	£	£	£
Training & Trainer Cost	12,661	-	-	12,661	16,701
Volunteer & Travel	5,152	-	-	5,152	5,232
Rent/Venue Hire Cost	10,665	-	-	10,665	11,760
Consultancy	5,352	-	-	5,352	-
Compliance	-	1,304	-	1,304	1,000
Administrative cost	2,597	-	-	2,597	11,617
Community Activities	13,831	-	-	13,831	20,597
Depreciation	2,244	-	-	2,244	775
Total	52,502 =======	1,304 ======	- =======	53,806	67,682 =======
				=======

9. Independent examination fees

	2022	2021
Fees payable to the Independent examiner for:	£	£
Independentexamination of the financial statements	1,000	1,000
Total	1,000 ========	1,000 =======

10. Staff Cost:

The total staff costs and employee benefits for the reporting period are analysed as follows:

All of our employee’s only work within the project and work as a contract basis that shows on the training and trainer cost.

No employee earned more than £60,000 during the year (2021: nil).

11.Trustee remuneration and expenses:

SORP 2015 requires the following statements to be made:

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2020: £nil). No charity trustee received payment for professional or other services supplied to the charity (2020: £nil).

12.Related parties:

There are no related party transactions during the year.

13.Tangible Fixed Assets

		Equipment	Furniture & Fixtures	Total

		£	£	£
	Cost
At 1 September 2021		3,878	-	3,878
Additions		8,118	-	8,118
At 31 August 2022		11,996	-	11,996
		Depreciation
At 1 September 2021		775	-	775
Charge this period		2,244	-	2,244
At31 August 2022		3,019	-	3,019
		Net book value
At 31 August 2022		8,893	-	8,893
At 31 August 2021		3,103	-	3,103

14.Debtors:

	2022	2021
	£	£
Trade Debtors	4,800	4,900
Total	4,800 =========	4,900 =========

15.Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade Creditors	178	600
Independent Examination fees	1,000	1,000
Total	1,178 ======	1,600 ======

16. Fund balance brought forward & carried forward

Funds:	Balance at	Incomin	Incomin	Outgoi	Balance
	1st Sept	g	g		at 31st
	2021	Unrestri	Restrict	ng	August
		cted	ed		2022
Restricted Funds:	£	£	£	£	£
Balance brought Forward	23,766	-	-	10,788	12,978
JOHN Lyons Charity	-	-	5,000	5,000	-
London Community Foundation	-	-	9,446	9,446	-
Hammersmith United Charities	-	-	19,850	19,850	-
United in H&F Spring	-	-	2,000	2,000	-
Sub Total	23,766	-	36,296	47,084 ----------	12,978
	------------	-----------	------------		------------
Unrestricted Fund:
Brought Forward	17,380	-	-	-	17,380
LBHF Grant	-	6,722	-	6,722	-
Membership and Donation	-	1,010	-	-	1,010
Sub Total	17,380	7,732	-	6,722 ----------	18,390
	-------------	-----------	-----------		------------
Total Fund Carried Forward	41,146	7,732	36,296	53,806 ======	31,368
	=======	======	======		=======

17. Income in Details:

17. Income in Details:
Income and endowments:	2022	2021
Donations and Legacies:	£	£
Membership and Donations	1,010 ---------	15,102 ---------
Public Sector & Trusts:
Hammersmith United Charities	19,850	13,400
London Community Foundation	9,446	9,928
LBHF	6,722	9,000
United in H&F Spring	2,000	3,000
JOHN Lyons Charity	5,000	-
Lola’s Cupcakes Ltd	-	2,000
LBH&F (Fast Track)	-	3,000
Comic Relief (ATM)	-	10,000
Voice 4 Change England Limited	-	9,910
Sub Total	43,018 ------------	60,238 ------------
TOTAL INCOME	44,028 ========	75,340 ========

18.Expenditure in details:

Expenditure:	2022	2021
Expenditure on charitable activities:	£	£
Rent/Hall Hire cost	10,665	11,760
Trainer & Training Cost	12,661	16,701
Community Activities	13,831	20,597
Volunteers & Travels	5,152	5,232
Telephone, Fax & Internet	1,204	1,416
Legal & Professional Fees	1,304	8,775
Printing & Stationery	43	668
Refreshment	-	55
Publicity	-	303
Consultancy	5,352	-
Administration cost	1,350	1,400
Depreciation	2,244	775
Total Expenditure	53,806 ========	67,682 ========
Net Movement in Funds	(9,778) ========	7,658 ========