Report of the Trustees and
Financial Statements for the Year Ended 31 August 2023
for
TASTE OF AFRICA (NORTH EAST)
TASTE OF AFRICA (NORTH EAST)
Contents of the Financial Statements for the Year Ended 31 August 2023
| Page | |
|---|---|
| Charity Information | 1 |
| Report of the Trustees | 2 |
| Income Statement | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 |
| Statement of Trustees' Responsibilities | 6 |
| Independent Chartered Certified Accountants' | |
| Review Report | 7 |
| Trading and Profit and Loss Account | 8 |
TASTE OF AFRICA (NORTH EAST)
Charity Information
for the Year Ended 31 August 2023
TRUSTEES:
Mrs F Sangowawa H Agnama J MASANDI
REGISTERED OFFICE:
REGISTERED OFFICE: 57 Green Valley Drive Stockton-On-Tees TS18 5QH CHARITY NUMBER: 1190808 (England and Wales)
ACCOUNTANTS: Samuelsons & Co Chartered Certified Accountants The Brentano Suite Solar House 915 High Road North Finchley London N12 8QJ
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TASTE OF AFRICA (NORTH EAST)
Report of the Trustees for the Year Ended 31 August 2023
The trustees present their report with the financial statements of the charity for the year ended 31 August 2023.
TRUSTEES
The trustees shown below have held office during the whole of the period from 1 September 2022 to the date of this report.
Mrs F Sangowawa H Agnama J MASANDI
The Trustees of Taste of Africa North East are pleased to present their annual report for the fiscal year ended August 31, 2023. We hereby confirm our compliance with the requirements stipulated by the Charities Act.
Aim:
Taste of Africa North East (Charity No. 1190808) is dedicated to celebrating and promoting African culture through creative arts, fostering awareness, inclusion, and integration within our community.
Our Values:
Our work is underpinned by the following core values: equality, inclusion, diversity, community, creativity, and integrity. These values are integral to our efforts in nurturing thriving and diverse communities in the North East.
Key Objectives for the Year:
In alignment with our values, the following objectives were set and successfully achieved during the reporting period:
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Expanded the delivery of the African Caribbean Carnival and market.
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Promoted Black-owned businesses through collaboration and networking opportunities.
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Expanded the delivery of the Youth Awards to a regional scale beyond Tees Valley.
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Incorporated exhibitions narrating the stories of African and Caribbean migration into our youth programming.
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Established a structured leadership program for young individuals within our community.
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Developed a Black creative network supporting creatives in the Tees Valley region.
Governance:
In 2023, we appointed four strategic Ambassadors with diverse skills to support the charity's development.
Financial:
While we secured funding from the Tees Valley Combined Authority for key resources, delays meant it was not accessible until September 2023, falling outside this reporting year. Additionally, funding was obtained from the Arts Council, Awards for All, Tees Valley museums, and through sponsorships for specific projects and events.
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TASTE OF AFRICA (NORTH EAST)
Report of the Trustees for the Year Ended 31 August 2023
Partnerships:
Strategic partnerships were cultivated, resulting in a significant increase in sponsorship, including contributions from Synther, Network Rails, YFT Consult, Middlesbrough Football Academy, and Durham University.
Achievements and Performance:
Several successful initiatives were executed during the reporting period:
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Taste of Africa Showcase: A vibrant event celebrating African talent and culture.
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Black History Youth Awards: Recognizing achievements and promoting positive role models.
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African Caribbean Carnival and Market: Promoting inclusion and cultural awareness.
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Miss Black History: Empowering young black women.
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Leadership Program: Providing structured leadership training for youth.
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Exhibitions: Showcasing stories of triumph over challenges and celebrating the Windrush generation.
Volunteers:
We extend our gratitude to our dedicated volunteers, whose support has been indispensable in the delivery of our activities.
Future Plans:
Our focus for the upcoming year is to develop a sustainable model to support our community initiatives through diversified income streams.
Conclusion:
We are proud of the progress made during the reporting period and remain committed to our mission of celebrating African culture and promoting community integration. We express our gratitude to all stakeholders for their continued support.
This report has been prepared in accordance with the provisions of Charity’s Act 2011 relating to charities.
ON BEHALF OF THE BOARD:
Mrs F Sangowawa - Trustee
- 17 April 2024
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TASTE OF AFRICA (NORTH EAST)
Income and Expenditure Statement for the Year Ended 31 August 2023
| 31.8.23 | 31.8.22 | |
|---|---|---|
| £ | £ | |
| Income | 65,805 | 13,638 |
| Cost of sales | 24,168 | 5,015 |
| GROSS INCOME | 41,637 | 8,623 |
| Administrative expenses | 20,641 | 3,770 |
| OPERATING PROFIT | 20,996 | 4,853 |
| Interest receivable and similar income | **31 ** | 13 |
| EXCESS OF INCOME | 21,027 | 4,866 |
| BEFORE TAXATION | ||
| Tax on profit on ordinary activities | - | - |
| EXCESS OF INCOME FOR THE FINANCIAL YEAR | 21,027 | 4,866 |
The notes form part of these financial statements
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TASTE OF AFRICA (NORTH EAST) (REGISTERED NUMBER: 1190808)
Balance Sheet 31 August 2023
| 31.8.23 | 31.8.22 | ||
|---|---|---|---|
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Cash at bank | 29,295 | 8,148 | |
| CREDITORS | |||
| Amounts falling due within one year | 4 | 480 | 360 |
| NET CURRENT ASSETS | 28,815 | 7,788 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 28,815 | 7,788 | |
| RESERVES | |||
| Retained earnings | 28,815 | 7,788 | |
| 28,815 | 7,788 |
The charity is entitled to exemption from audit under Section 144(2) of the Charities Act 2011 for the year ended 31 August 2023.
The Trustees considered that an Independent Examiner’s Report is appropriate the charity’s financial statements for the year ended 31 August 2023 in accordance with the provisions of charities Act 2011.
The trustees acknowledge their responsibilities for:
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(a) ensuring that the charity keeps accounting records which comply with Sections 132(1) of the Charities Act 2011 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of each financial year and of its income and expenditure for each financial year in accordance with the requirements of Charities Act 2011 relating to financial statements, so far as applicable to the charity.
The financial statements have been prepared in accordance with the provisions applicable to charities subject to the charity’s regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 17 April 2024 and were signed on its behalf by:
Mrs F Sangowawa - Trustee
The notes form part of these financial statements
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TASTE OF AFRICA (NORTH EAST)
Notes to the Financial Statements for the Year Ended 31 August 2023
1. STATUTORY INFORMATION
TASTE OF AFRICA (NORTH EAST) is a charity registered in England and Wales. The charity's registered number and registered office address can be found on the Charity Commission’s page.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
Income is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
3. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.8.23 | 31.8.22 | |
|---|---|---|
| £ | £ | |
| Accrued expenses | 480 | 360 |
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TASTE OF AFRICA (NORTH EAST)
Statement of Trustees' Responsibilities for the Year Ended 31 August 2023
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and regulations.
Charity law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the income and expenditure statement for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and accounting estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
ON BEHALF OF THE BOARD:
Mrs F Sangowawa - Trustee
17 April 2024
This page does not form part of the statutory financial statements
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Independent Examiner’s Report to the Trustees of TASTE OF AFRICA (NORTH EAST)
We have reviewed the financial statements of TASTE OF AFRICA (NORTH EAST) for the year ended 31 August 2023, which comprise the Income Statement, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Trustees' responsibility for the financial statements
As explained more fully in the Statement of Trustees' Responsibilities set out on page six, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.
Accountants' responsibility
Our responsibility is to express a conclusion on the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial statements' and ICAEW Technical Release TECH 09/13AAF (Revised) 'Assurance review engagements on historical financial statements'. ISRE 2400 (Revised) requires us to conclude whether anything has come to our attention that causes us to believe that the financial statements, taken as a whole, are not prepared, in all material respects, in accordance with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). ISRE 2400 (Revised) also requires us to comply with the ICAEW Code of Ethics and the FRC's Ethical Standard, as applicable.
Scope of the assurance review
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures, primarily consisting of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK). Accordingly, we do not express an audit opinion on these financial statements.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:
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so as to give a true and fair view of the state of the company's affairs as at 31 August 2023 and of its profit for the year then ended;
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in accordance with United Kingdom Generally Accepted Accounting Practice; and
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in accordance with the requirements of the Charities Act 2011.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with our terms of engagement. Our review has been undertaken so that we might state to the trustees those matters that we have agreed with them in a reviewer's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body for our work, for this report, or for the conclusions we have formed.
Samuelsons & Co Chartered Certified Accountants The Brentano Suite Solar House 915 High Road London N12 8QJ
17 April 2024
This page does not form part of the statutory financial statements
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TASTE OF AFRICA (NORTH EAST)
Detailed Income & Expenditure Account for the Year Ended 31 August 2023
| Income Donations Cost of sales Cultural Expenses GROSS INCOME Other income Deposit account interest Expenditure Rent Marketing & printing Travelling Licences and insurance Training & development Computer & website costs Administrative expenses Accountancy Profesional & consultancy fees Donations NET INCOME OVER EXPENDITURE |
31.8.23 £ 1,500 5,857 1,228 360 1,783 725 2,370 480 6,187 151 |
£ 65,805 24,168 41,637 31 41,668 20,641 21,027 |
31.8.22 £ - 1,788 - 293 1,300 - 29 360 - - |
£ 13,638 5,015 8,623 13 8,636 3,770 4,866 |
|---|---|---|---|---|
This page does not form part of the statutory financial statements
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