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2023-03-31-accounts

Charity Registration No. 1196492 Company No. 13639269

BRITSOM

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR

THE YEAR ENDED

31 MARCH 2023

BRITSOM

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees/Directors

M Ali Charity Number

M Bashir A Abdalla M Mire

1196492

Company Number 13639269 Principal address

Eversfield Centre 11 Eversfield Gardens London NW7 2AE

Independent Examiner M&H Associates 152 - 160 Kemp House City Road London EC1 2NX

BRITSOM

CONTENTS

Page
Chairman’s message 1
Trustees' report 2 - 5
Independent examiner’s report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 – 11

BRITSOM

CHAIRMAN’S MESSAGE

FOR THE YEAR ENDED 31 MARCH 2023

I am honoured to introduce the 2022-2023 Annual Report that has monitored the progress and achievements that have taken place over the last 12 months. BritSom is a centre which caters to the needs of the Somali Black, Minority, refugee and migrant communities in Barnet.

COVID-19 undoubtedly dished out fear and gave every individual within the community concern for their own health and wellbeing, as well as that of family and friends. It brought a bout of grief and sorrow to those who lost loved ones, to COVID-19 and a bout of economic uncertainty for many. At present the cost-of-living crisis is the major issue affecting our users. A key problem is the inability of local people to feed their families relying on foodbanks, to pay their rent, which is leading to raised threats and numbers of evictions. Particularly vulnerable groups such as older people, are raising concerns about heating costs and are concerned about their ability to pay bills this winter.

On behalf of the board of trustees, I would like to thank our excellent team: staff and volunteers at BritSom. Without their hard work, enthusiasm, resilience and good humour, BritSom would not be the successful and essential community asset that it is today. My thanks also go out to our beneficiaries for showing patience, in this trying time, particularly with the disruptions in workplaces under Covid-19 restrictions and now the cost-of-living crisis.

A special thank you goes to our funders and partners for their continuous support. We are indeed looking forward to making a further positive impact in 2023-2024 with a sense of hope and togetherness.

Chair

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BRITSOM

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2023

The trustees present their report along with the Financial Statements of the charity for the year ended 31 March 2023. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charities Act 2011 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2016).

Aims and objectives

How our activities deliver public benefit

The trustees have throughout the year paid regard to the Charity Commission’s guidance on public benefit in dealing with the aims and activities of the charity.

People have benefitted from our services and have gained access to education, training and employment.

Activities

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BRITSOM

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Achievements and Performance

Advice, Information and Guidance provisions: over 400 people have benefited from our (AIG) services. This service increased during the coronavirus pandemic.

Recent Achievements

BritSom has stepped up to help hundreds of additional people from all communities during the Covid-19 pandemic and associated lockdown. Volunteers, staff and trustees have gone above board to offer online or telephone sessions to over 460 people through our advice and advocacy service, which saved many from extreme poverty. We also set up new unfunded projects such as a food bank which provided daily cooked and uncooked food for 90 people, regular telephone befriending and home visits for 25 community elders, people, and helped over 50 people find new jobs through an online job search and employment preparation programme.

Supplementary School: over 100 children have benefited the supplementary classes each week. The aim of this service is to support them with their homework to address the underachievement of the Somali and BAME children and young people. Our supplementary school has Gold Quality Framework Award.

Welfare Advice

We provide support regarding accessing benefits, rent arrears, utilities, benefit entitlement, housing issues to hundreds of disadvantaged and excluded people from Somali / BAME communities in Barnet.

Employment Support: over 50 adults have benefited from our one-to-one employment support and our monthly employment support workshops through online platform. Also, we have seen an increase in people wanting employment support service during the pandemic.

Advice UK: we received an Advice UK Certificate on 25th February 2023.

Quality Mark: we received a NRCSE quality mark on 27th February 2019 at the House of Commons presented by our local MP Matthew Offord.

Street Mark: we received a Street Mark quality mark.

London Yout h: Britsom is officially a member of London Youth

Volunteering: our volunteers are the backbone of BritSom and have contributed over 3,800 hours equivalent in monetary terms.

Influencing policy: BritSom works with a number of local strategic bodies to promote partnership working between the sectors and the local community. We are members of Advice UK, London Youth Young Barnet Foundation, Community Barnet, Barnet Supplementary School Forum, the Refugee Council, NRCSE and Greater London Volunteering. We continued to lobby for recognition of the needs of the Somali Community on various platforms. We have working agreement with Trinity Church Mill Hill and close working relationship with Hasmonean high girls’ school.

Events: we have an Annual Celebration where we recognise the achievements of students and volunteers.

Funding

The Trustees wish to offer their warm thanks to the following organisations for their generous support of BritSom during the period of this Financial Report: John Lyon’s Charity, The London Community Foundation, People’s Health Trust, National Lottery Community Fund, Trust for London, AB Charitable Trust, People's Health Trust and London Borough of Barnet.

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BRITSOM

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Trustees

M Ali

M Mire M Bashir A Abdalla

Financial Review & Reserves Policy

The Charity Commission for England recognised that there is a legal duty on Management Committee Members of Charities to set reserve level and justify that this is reasonable. To meet this responsibility and manage risk BritSom Management Committee Members have set an appropriate reserve level to meet the ongoing needs of the organisation.

BritSom has no general funding guaranteed annual income and therefore, as an acknowledgement of financial risks accrued through the day-to-day activities and ongoing services. The organisations aim to generate sufficient unrestricted reserves to maintain operations for 5 months running cost and allow the services to continue. This reserve target was set by the Management Committee on 11 December 2022 at £60,000 for 5 months’ operation running cost.

Investment powers and policy

The Charity’s funds are to be spent in the short term and there are no long-term funds or advance funds, which cannot be investments in the money market.

Plans for Future Periods

BritSom aims to continue the delivery and consolidation of the current activities along with a number of new initiatives subject to availability of funds. We will also explore options for diversification of our income generation and funding sources to build BritSom’s sustainability.

The future planned activities are as follows:

Review of financial position

At the balance sheet date, the total funds of the Charity were £195,928 (2022: £210,349).

Risk Management

The Trustees have a risk management strategy, which comprises the following areas:

• And the Implementations of such procedures designed to minimise any potential impact on the charity should those risks materialize.

Structure, governance and management

The charity is constituted as a company limited by guarantee and is therefore governed by a Memorandum and Articles of Association. The directors of the company are also trustees of the charity. Eligibility for membership of the charity and membership of the board of trustees is governed by the Memorandum and Articles of Association There are no restrictions in the governing document on the operation of the charity or on its investment powers, other than those imposed by general charity law.

Appointment of trustees

Recruitment and Appointment of Management Committee Members of the Management Committee are all recruited from volunteers within the Community.

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BRITSOM

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Trustee Induction and Training Most trustees are already familiar with the work of the charity as a result of being local people and due to their involvement in the charity. Additionally, new trustees are invited and encouraged to attend induction and training in relevant policies and procedures as and when necessary.

Trustees’ induction and training

Management Committee Members receive and induction pack detailing their responsibilities, Code of Conducts, meeting timetable, conflict of interest policy and declaration forms, CC3 (Responsibilities of Charity Trustees) paper and equal opportunity policies. Management Committee Members volunteering for personnel, day to day activities and financial subcommittees.

Statement of Directors' and Trustees' Responsibilities:

Charity Law and the Companies Acts require the Board to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to.

  1. Select suitable accounting policies and then apply them consistently &Make judgements and estimates that are reasonable and prudent; and

  2. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

  3. State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;

The trustees are also responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are also responsible for the contents of the trustees' report, and the responsibility of the auditors/external examiners in relation to the trustees' report is limited to examining the report and ensuring that, on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements.

The trustees are also responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity’s transactions 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Method of preparation of accounts: The trustees, in their capacity as directors, state that the accounts have been prepared in accordance with the provisions relating to small companies within Part 15 of the Companies Act 2006.

M Ali Chair Dated: 11-May-2023

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BRITSOM

INDEPENDENT EXAMINER’S REPORT

TO THE TRUSTEES ON THE FINANCIAL STATEMENTS OF BRITSOM FOR THE YEAR ENDED 31 MARCH 2023

Examiner’s Report to the Trustees of BritSom

I report on the accounts of the charity for the year ended 31 March 2023 which are set out on pages 7 to 8.

Responsibilities and basis of report

The charity’s trustees who are also the directors of the company for the purposes of company law are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011(`the Act).

Independent examiner’s statement

In connection with our examination, no material matter has come to our attention:

(1) which gives us reasonable cause to believe that in any material respect the requirements:

• to keep accounting records in accordance with section 386 of the Companies Act 2006; and

• to prepare accounts which accord with the accounting records, comply with the accounting requirements of sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or

(2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Address: M&H Associates 152 - 160 Kemp House City Road London EC1 2NX

Date: 29-May-2023

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BRITSOM

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Incoming resources
Grants
Donations
Total incoming resources
Resources expended
Staff and management salaries
Sessional workers
Operations
Total resources expended
Net incoming/(outgoing) resources
for the year ended 31 March 2023
Fund balances brought forward
at 1 April 2022
Fund balances carried
forward at 31 March 2023		 Unrestricted
Restricted Total
Funds
Funds
2023
£
£
£
-
148,122
148,122
3,185
-
3,185
3,185
148,122
151,307
-
124,859
124,859
-
17,325
17,325
-
22,987
22,987
-
165,171
165,171
3,185
(17,049)
(13,864)
64,855
131,073
195,928
64,855
131,073
195,928
======
======
======		 Total
2022
£
172,806
11,000
186,245
105,649
25,014
30,149
160,812
25,433
210,349
210,349
======

BRITSOM

BALANCE SHEET AS AT 31 MARCH 2023

Notes
Current assets
Cash at bank and in hand
Current liabilities
Creditors: amounts falling
due within one year
Net current assets
Income funds
Restricted funds
2
Unrestricted funds
2		 2023
£
£
195,928
-
195,928
======
131,073
64,855
195,928
======		 2022
£
£
210,349
-
210,349
======
148,679
61,670
210,349
======		 2022
£
£
210,349
-
210,349
======
148,679
61,670
210,349
======
210,349
======

The financial statements were approved by the Trustees on 29 May 2023

………………………………………………. M Ali

Trustee/Director

BRITSOM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. Accounting policies

1.1

Basis of preparation

The accounts have been prepared in accordance with the Charities Act 2011 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The accounts have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Incoming resources

Incoming resources are included in the SOFA when the charity can quantify the amount with reasonable accuracy.

1.3 Resources expended

Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.

1.4 Fund accounting

Funds held by the charity are either:

BRITSOM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 (CONTINUED)

1.5 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity’s balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

BRITSOM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 (CONTINUED)

2. Analysis of charitable funds

Analysis of unrestricted funds movements

Balance at Incoming Resources Balance at
1 April 2022 resources expended March 31 2023
£ £ £ £
Reserve fund 61,670 3,185 - 64,855
61,670 3,185 - 64,855
====== ====== ====== =======
Analysis of restricted funds movement
Balance at Incoming Resources Balance at
1 April 2022 resources expended March 31 2023
£ £ £ £
Grant fund 148,679 151,307
(165,171)
131,073
148,679 151,307
(165,171)
131,073
====== ====== ====== =======

Name of the fund

Description, nature and purpose of the fund

Grant fund

to carry out activities set by grantees

3. Staff costs

The average weekly number of employees remunerated during the year, calculated on a full-time equivalent basis, was 5 (2023 – 5).

No individual is remunerated at a level in excess of £30,000.