Company registration number: 11688656 Charity registration number: 1191632
Central Park Educations & Welfare
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 30 November 2022
Name of charity was changed on 05/06/2023 and 26/07/2023
Formerly known as Central Park Education & Welfare
Central Park Educations & Welfare
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Strategic Report | 2 |
| Trustees' Report | 3 to 4 |
| Accountants' Report | 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 16 |
Central Park Educations & Welfare
Reference and Administrative Details
Charity Registration Number 1191632 Company Registration Number 11688656 The charity is incorporated in England & Wales. Registered Office 269 High Street South East Ham London E6 3PG Accountants BBK Accountants BMM Limited 4A Roman Road London E6 3RX
Page 1
Central Park Educations & Welfare
Strategic Report for the Year Ended 30 November 2022
The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 30 November 2022, in compliance with s414C of the Companies Act 2006.
The strategic report was approved by the trustees of the charity on 29 August 2023 and signed on its behalf by:
......................................... Shaikul Alam Noor Trustee
Page 2
Central Park Educations & Welfare
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 30 November 2022.
Objectives and activities
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Shahjahan Miah Abdul Haque Mr Mohammed Kamal Hussain Budur Rahman Shaikul Alam Noor
Structure, governance and management Financial instruments
Objectives and policies
The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
Statement of trustees' responsibilities
The trustees (who are also the directors of Central Park Educations & Welfare for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company 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 charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
Page 3
Central Park Educations & Welfare
Trustees' Report
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on 29 August 2023 and signed on its behalf by:
......................................... Shaikul Alam Noor Trustee
Page 4
Chartered Accountants' Report to the Trustees on the Preparation of the Unaudited Statutory Accounts of Central Park Educations & Welfare for the Year Ended 30 November 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Central Park Educations & Welfare for the year ended 30 November 2022 as set out on pages 7 to 16 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW) we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/ members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Central Park Educations & Welfare, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Central Park Educations & Welfare and state those matters that we have agreed to state to the board of directors of Central Park Educations & Welfare, as a body, in this report, in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Central Park Educations & Welfare and its board of directors as a body for our work or for this report.
It is your duty to ensure that Central Park Educations & Welfare has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and of Central Park Educations & Welfare. You consider that Central Park Educations & Welfare is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Central Park Educations & Welfare. 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.
......................................
BBK Accountants BMM Limited 4A Roman Road London E6 3RX
29 August 2023
Page 5
Central Park Educations & Welfare
Independent Examiner's Report to the trustees of Central Park Educations & Welfare ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 November 2022.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 your 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
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:
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accounting records were not kept in respect of Central Park Educations & Welfare as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts 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
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the accounts 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 (FRS 102)].
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 accounts to be reached.
...................................... Taj Kassam BBK Accountants BMM Ltd
29 August 2023
Page 6
Central Park Educations & Welfare
Statement of Financial Activities for the Year Ended 30 November 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Total income Expenditure on: Raising funds 4 Charitable activities 5 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 15 Note Income and Endowments from: Donations and legacies 3 Total income Expenditure on: Raising funds 4 Charitable activities 5 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 15 |
Unrestricted funds £ 89,877 89,877 (9,320) (37,360) (46,680) 43,197 43,197 7,637 50,834 Unrestricted funds £ 62,138 62,138 (6,434) (32,238) (38,672) 23,466 23,466 (15,829) 7,637 |
Total 2022 £ 89,877 |
|---|---|---|
| 89,877 | ||
| (9,320) (37,360) |
||
| (46,680) | ||
| 43,197 | ||
| 43,197 7,637 |
||
| 50,834 | ||
| Total 2021 £ 62,138 |
||
| 62,138 | ||
| (6,434) (32,238) |
||
| (38,672) | ||
| 23,466 | ||
| 23,466 (15,829) |
||
| 7,637 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 15.
The notes on pages 9 to 16 form an integral part of these financial statements. Page 7
Central Park Educations & Welfare
(Registration number: 11688656) Balance Sheet as at 30 November 2022
| Note Fixed assets Tangible assets 10 Current assets Debtors 11 Cash at bank and in hand 12 Creditors: Amounts falling due within one year 13 Net current assets Total assets less current liabilities Creditors: Amounts falling due after more than one year 14 Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 15 |
2022 £ 1,028 206 62,222 62,428 (1,122) 61,306 62,334 (11,500) 50,834 50,834 50,834 |
2021 £ 431 206 19,621 |
|---|---|---|
| 19,827 (1,121) |
||
| 18,706 | ||
| 19,137 (11,500) |
||
| 7,637 | ||
| 7,637 | ||
| 7,637 |
For the financial year ending 30 November 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 7 to 16 were approved by the trustees, and authorised for issue on 29 August 2023 and signed on their behalf by:
......................................... Shaikul Alam Noor Trustee
The notes on pages 9 to 16 form an integral part of these financial statements. Page 8
Central Park Educations & Welfare
Notes to the Financial Statements for the Year Ended 30 November 2022
1 Charity status
The charity is limited by guarantee, incorporated in England & Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation.
The address of its registered office is: 269 High Street South East Ham London E6 3PG
These financial statements were authorised for issue by the trustees on 29 August 2023.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Central Park Educations & Welfare meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Page 9
Central Park Educations & Welfare
Notes to the Financial Statements for the Year Ended 30 November 2022
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Page 10
Central Park Educations & Welfare
Notes to the Financial Statements for the Year Ended 30 November 2022
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
3 Income from donations and legacies
| Donations and legacies; Donations from individuals Total for 2022 Total for 2021 |
Unrestricted funds General £ 89,877 89,877 62,138 |
Total funds £ 89,877 |
|---|---|---|
| 89,877 | ||
| 62,138 |
Page 11
Central Park Educations & Welfare
Notes to the Financial Statements for the Year Ended 30 November 2022
4 Expenditure on raising funds
a) Costs of trading activities
| Note Allocated support costs 6 Total for 2022 Total for 2021 5 Expenditure on charitable activities Note Governance costs 6 Total for 2021 |
Unrestricted funds General £ 9,320 9,320 6,434 Unrestricted funds General £ 37,360 32,238 |
Total funds £ 9,320 |
|---|---|---|
| 9,320 | ||
| 6,434 | ||
| Total costs £ Total funds £ 37,360 |
||
| 32,238 | ||
| Total expenditure £ |
In addition to the expenditure analysed above, there are also governance costs of £37,360 (2021 - £32,238) which relate directly to charitable activities. See note 6 for further details.
6 Analysis of governance and support costs
Governance costs
Page 12
Central Park Educations & Welfare
Notes to the Financial Statements for the Year Ended 30 November 2022
| Marketing and publicity Depreciation, amortisation and other similar costs Other governance costs Total for 2022 Total for 2021 |
Unrestricted funds General £ 325 343 36,692 37,360 32,238 |
Total funds £ 325 343 36,692 |
|---|---|---|
| 37,360 | ||
| 32,238 |
Page 13
Central Park Educations & Welfare
Notes to the Financial Statements for the Year Ended 30 November 2022
7 Net incoming/outgoing resources
Net incoming resources for the year include:
| Depreciation of fixed assets | 2022 £ 343 |
2021 £ 143 |
|---|---|---|
8 Trustees remuneration and expenses
9 Taxation
The charity is a registered charity and is therefore exempt from taxation.
10 Tangible fixed assets
| Cost At 1 December 2021 Additions At 30 November 2022 Depreciation At 1 December 2021 Charge for the year At 30 November 2022 Net book value At 30 November 2022 At 30 November 2021 11 Debtors Other debtors 12 Cash and cash equivalents Cash at bank |
Furniture and equipment £ 574 940 1,514 143 343 486 1,028 431 2022 £ 206 2022 £ 62,222 |
Furniture and equipment £ 574 940 1,514 143 343 486 1,028 431 2022 £ 206 2022 £ 62,222 |
Total £ 574 940 1,514 143 343 486 1,028 431 2021 £ 206 |
|
|---|---|---|---|---|
| 1,514 | ||||
| 143 343 |
||||
| 486 | ||||
| 1,028 | ||||
| 431 | ||||
| 2022 £ 206 2022 £ 62,222 |
||||
| 2021 £ 19,621 |
Page 14
Central Park Educations & Welfare
Notes to the Financial Statements for the Year Ended 30 November 2022
13 Creditors: amounts falling due within one year
| 13 Creditors: amounts falling due within one year | |||
|---|---|---|---|
| Other creditors Accruals 14 Creditors: amounts falling due after one year Other creditors 15 Funds Balance at 1 December 2021 £ Unrestricted funds General 7,637 Balance at 1 December 2020 £ Unrestricted funds General (15,829) 16 Analysis of net assets between funds Tangible fixed assets Current assets Current liabilities Creditors over 1 year Total net assets |
Incoming resources £ 89,877 Incoming resources £ 62,138 |
2022 £ 702 420 1,122 2022 £ 11,500 Resources expended £ (46,680) Resources expended £ (38,672) Unrestricted funds General £ 1,028 62,428 (1,122) (11,500) 50,834 |
2021 £ 701 420 |
| 1,121 | |||
| 2021 £ 11,500 |
|||
| Balance at 30 November 2022 £ 50,834 |
|||
| Balance at 30 November 2021 £ 7,637 |
|||
| Total funds at 30 November 2022 £ 1,028 62,428 (1,122) (11,500) |
|||
| 50,834 |
Page 15
Central Park Educations & Welfare
Notes to the Financial Statements for the Year Ended 30 November 2022
| Tangible fixed assets Current assets Current liabilities Creditors over 1 year Total net assets |
Unrestricted funds General £ 431 19,827 (1,121) (11,500) 7,637 |
Total funds at 30 November 2021 £ 431 19,827 (1,121) (11,500) |
|---|---|---|
| 7,637 |
Page 16
Central Park Educations & Welfare
Statement of Financial Activities by fund for the Year Ended 30 November 2022
Unrestricted Funds
| Unrestricted Funds | ||
|---|---|---|
| Income and Endowments from: Donations and legacies Total income Expenditure on: Raising funds Charitable activities Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total Unrestricted Funds 2022 £ 89,877 89,877 (9,320) (37,360) (46,680) 43,197 43,197 7,637 50,834 |
Total Unrestricted Funds 2021 £ 62,138 |
| 62,138 | ||
| (6,434) (32,238) |
||
| (38,672) | ||
| 23,466 | ||
| 23,466 (15,829) |
||
| 7,637 |
This page does not form part of the statutory financial statements. Page 17
Central Park Educations & Welfare
Detailed Statement of Financial Activities for the Year Ended 30 November 2022
| Income and Endowments from: Donations and legacies (analysed below) Total income Expenditure on: Raising funds (analysed below) Charitable activities (analysed below) Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total 2022 £ 89,877 89,877 (9,320) (37,360) (46,680) 43,197 43,197 7,637 50,834 |
Total 2021 £ 62,138 |
|---|---|---|
| 62,138 | ||
| (6,434) (32,238) |
||
| (38,672) | ||
| 23,466 | ||
| 23,466 (15,829) |
||
| 7,637 |
This page does not form part of the statutory financial statements. Page 18
Central Park Educations & Welfare
Detailed Statement of Financial Activities for the Year Ended 30 November 2022
| Donations and legacies Appeals and donations UK Government grants Raising funds Wages and salaries Accountancy fees Charitable activities Rent Light, heat and power Insurance Repairs and maintenance Telephone and fax Printing, postage and stationery Trade subscriptions Travel and subsistence Advertising Legal and professional fees Credit card charges Depreciation of fixtures and fittings |
Total 2022 £ 89,877 - 89,877 (8,900) (420) (9,320) (24,419) (1,660) (430) (7,420) (56) (207) (805) (750) (325) (113) (832) (343) (37,360) |
Total 2021 £ 41,262 20,876 |
|---|---|---|
| 62,138 | ||
| (5,974) (460) |
||
| (6,434) | ||
| (27,532) (674) (462) (1,165) (60) (154) (696) (871) (260) - (221) (143) |
||
| (32,238) |
This page does not form part of the statutory financial statements. Page 19