Grea¢er Manehesler EthRopnan Cojnmunnly Al￿￿e￿all0￿ Charity Number 1203515 Un-Audlted Annual Accounts and Report For the year ended 30th June 2024 Greater Manehesler Ethxopwi Assoemlion Un-Audited Annual Accounts and Report For the year ended 30th June 2024 Page No Structur4 governance and management I to2 Trustres, annual report 3to4 ststement offinancial aGtiviti¢s (in¢ludin8 in¢ome and ¢xpcJ)d1lu￿ ￿cOunt) Stsi¢m¢nt of finan¢ial position Notes to th¢ financial Statements 7tolO Grealer Manehesler Elhiopian Conunuwly Un-Audited Annual Accounts and Report For the year ended 30th June 2024 Charity Registrallon number 1203515 Chalrnian Tamlru Selfu Treasure Gabriella Cocanari TRUSTEES 1. MR. Tamiru Seifu 2.MR Mesfin Haile 3. Miss Gabfiella Cocanari 4. Miss Genet Solomon 5.MR Addis Abebaw MA REGISTERED OFFICE 29 CHANDOS ROAD P¥lANCHESTER M21 OSS Bank•rs Metro Bank Greater Maneheséer Ethnopian A8￿C￿tIon Un-Audited Annual Accounts and Report For the year ended 30th June 2024 Structure* governance and managemenl GOVERNJNG DOCUMENT The Chtirity w8S established as GTea*r Manchester Ethiopian Community Association registered number 1203515 STRUCTURE The governin8 StNcture is described in ¢ODStitution of the charlty. The governing structure of Tn￿8 comprises of the following: 1. MR. TamiN Seifu 2.MR Mesfin Haile 3. Mi&8 Gabriella Cocanari 4. Miss. Genet Solomon 5.MR Addis Abebaw MA The Charity operates through the office in Manchester. The Tntstees have been instN¢ted by the members to implem¢nt the objective of the organisation in ac￿rdanCe with the conslitution. The Charity is funded by the wntributions paid by members. Many of its sympathisers also donate to the charity SUPPOrt lo¢a] activities or8anised by the charity. FINAIYCIAL CONTROIS The trnstees endeavour to ensure that the funds and ass¢ts of the Charity are safeguarded through its financial controls. Th¢s¢ controls are implemented by tru*ees. The members also scrutin1￿5 th¢ a¢eounts in the annual gathering of memiw whi¢h is held at le&8t once exh year. The Charity tries to review and develop its systems periodically to make improvements in its ae¢ounting procedures and financial controls in order to meet legal accountin8 obligations RISK MAIYAGEMEi¥T The serving Trustee board has assessed that th¢r¢ is no major risks to which the charity is exposed. In particular, those related to operations and fina[￿ of the Charity, and is ￿tISfIed that checks and balanc4 and systen]s are in place to mitigate the exp05ure of the Charity to major risk. The trustees will constantly be appraising all its system with a view to improving them. The Cbarity has undertaken a significant review ond development plan to improve its governance structure, policies and process to addre&s the need of the Charity, its donors and meet regulatory objectives (2} Greaéer Manehesrter Ethlopian Asweiatxon Un-Audited Annual Accounts and Report For the year ended 30th June 2024 Trustees, Amiual Report {continu¢d) Greatr Man¢hes*r Ethiopian Associalion has got objectives and activities relating to welfare of Community. This Charity structure was forni￿ with the view to improve governance and enhance operational activities by reorganisatio ' Advancement of welfare of the community for the L￿efit of the public ' Provide relief to those in need or other disadvantages by promoting education. relieving financial l)ardship and poor healtlL ' The promotion of racial and l or religious hamiony for the public benefit. ' To promote justice, dignity, human rights and social responsibility throughout the world. ' To develop the capacity and skills of members of so¢ially disadvantsged communities of Conununity ' The relief of financial need and suffering among victims of natural or other kinds of disaster. . The relief and assistance to victims of war or natural disaster. trouble. or catastrophe in any part of the world ACHIEVEMENTS AND PERFORMANCE The trustees are pleased with the perfornwlce of the Charity during the year. To initiate the restructure. resource mobilisation has sucCess￿lY started and the transitional process from the legacy charity has also been begun. This h&$ resuIted in the transfer of membership of entire local branch E¢adcrship to the new Charity strncture. Funds raised during the year reflects the steady start of operntional activities those will continue to enbance with the same pa￿ in the next y¢ar. FINANCIAL REVIEW The year under review is the first op¢rationa] year of the charity. The income of £ 1.4181- demonstrate the a¢tivities of clwity were very limited. This is due to the impact of COVID-19 which hindered the transfer of membership. Over the coming years the Charity will continue to work steadily towards achieving its objectives. The Statement of Financial Activities shows curr¢nt ￿$￿ for the year ¢nded 30th June 2024 £7449.00) representing the surplus on clwitsble activities. The Trustees were therefore pleased and satisfied with this progress. (3) Greater Manehesler Eéhiopwi AsL4oeiation Un-Audfted Annual Accounts and Report For the year ended 30th June 2024 Trustees, Annual R¢port (continued) Year ended 30th June 2024 PLANS WOR virruRE PERIODS As the Charity has already stsrted the transition process, the trustees foresee significant development in governance and structural process. From June 24 the rnembership of Greater Manchester Ethiopian Community Association Ateounting provislon This report has been prepared An accordance with the provisions generally applirAbl¢ to chariti¢s. The trustees, annual report was approved and signed on behalf of the board of Trustee's of Greater Manchester Ethiopian Community Association Tamlrn Selfu ChAirnian 14} Greaéer Manehesder Ethiopwi Cojnmuwty As•oeMalxon Un-Audited Annual Accounts and Report For the year ended 30th June 2024 Statement of Financial Activities (including income and expenditure aLYount) Receipts 2023 Amcwnt £ 6,881 Payments Wage• and 8•lary Olnce Runn1￿ and maIntemn￿ Cost Charlty- Travelling Exp Repair and Malntenance Olfice Cleaning Telephone arthj fax Printing and ststi¢)nary Accounlan¢y fee Bank Cliwg88 850 Total Ex￿n EXCESS OF INCOME OVER EXPENDrru S88 6.881 Current Assets CASH IN HAND AND AT 7.449 15,581 Total Currgnt Assets Current Lkgblllty Trader Creditors Loan . payable 7.449 15,581 8,700 8.700 EXCESS OF INCOME OVER EXPENixfuRE OPENING BAL4NCE FOR THE YEAR £6,881 £568 £7.449 £8,881 Tamiru Soifu Chalmwn {5) Greaéer Manthesler EtJAROPWi Assoenalion Un-Audited Annual Accounts and Report For the year ended 30th June 2024 Statement of Fin8n¢ial Position 30th Jun¢ 2024 2024 2023 Current Amets Cuh a¢ bank and In hand 7,49 15,581 Credlton: Smo￿nI• falllng ¢lu¢ wlthln ont yeir 8.700.00 Net eurr•n¢ *•••¢i Tothl AM•ts l•M rnrrut ltsbllltl Futhds of th• thirlty UnTestrl¢t¢d thnd5 7,449 8,881 Tolal eharlty fundi For theyevendlni 3¢Jth Jui¢ 2024 th¢ thlrity wos eThiltkd to ex¢mpiion from of the comp￿5¢5 Ad 2006 r¢latln8 io small Comp￿1¢$. Dlr•eton' r#p0nilblllt￿. Thc mctnbers have noi Twuir¢d the COMp￿Y w obtain an audlt of 515 financial yeor in quesllon In accordanc¢ wlth S￿on The dlreelors ￿knOwled8£ their Yespon51billll¢s fOr¢￿PIYIngW1th th¢ requiTan¢nts of the Act with r¢sM ￿ a¢¢ouniln8 records the prtpttrnlion of financi￿ stalunen These financial stat¢m¢nts have been prepared in accordanee with the provisions applicable to Charities. financial statements were approved by the board of trustees and authorises for issue on and are signed their behalf. Tamiru Selfu Chxirnian Greater Manehesler EthMOPWI Assoeiation Un-Audited Annual Accounts and Report For the year ended 30th June 2024 Notes to the Financial Statements Year endeAI 30th June 2024 I CeDeral lttf•nwafio The charity is a public benefit entity and re￿ with Charity commission. The address of charity is given on page-2 2 Ststem¢•tof ¢omplia• These financial statements have been prepared in compliance with FRS Repothg and Financial Rep)rting Standard applicable in the UK and Ryblic of ]Teland the Stat¢m¢nt o Recommended Practice applicable to charities preEwing their accounts in accordance with the Financial Repoiting Standard in the UK and Republic of Ireland IFRS 102) (Charities SORP (FRS 102) ). 3 AccoDDtiDg pDlleks Bub of preparatlon The financial statements have been prepared on the historical cost b8si& modified by the revaluation of certain financial assets and ]iabiIities and investment proixrties measured at fair value thmugh income or expenditu￿. The rUw￿la1 slatements are preparal in Sterli￿ which ts the fimctional currency of the ethity.. Golog c￿ter￿ There are no material uncert￿eS aiKlUt the charitys ability to continue for a period of at least twelve months from the date of approval of these financiat statements . Dlxlowr¢txempllMs The entity satisfies the criteria of being a qualifyi￿ entity as defined in FRS 102. As sucl advantsge h&8 been tsken of the following disclosure ex¢mptions available under paragraph 1.12 of FRS (a) No flow statement Iw been presented for the company.(b) Disclosures in respect of financial instruments have not been presente Judgtmellts Ind kry yJur¢es Of estlm*16D* owt•lnty The preparation of the financial statements Tequires management to make judgements, continually reviewed and are based on experience and other fact￿& including of future events that are I￿lIeVed to be reasonable under the Circumstantts. Grealer ManeheL4ter Eéhiopian Assoeialmon Un•Audited Annual Accounts and Report For the year ended 30th June 2024 Notes to the Financial Statements (continued) 3 Aeeouttiio8 poHek& 1tMtittu￿l Unrestricted fimds are available for use at the discr¢tion of th¢ Instees to further any of th¢ charity's purposes. Designated funds are unrestricted funds earnwked by thc tn￿t¢￿ for particular fu project or comrnilmenL R¢5tricted funds ar¢ subj¢ct¢d to restrictions on their expenditure declared by the donor or through the tern￿ of an appeal, and fall into one of two sub-¢lass¢s: r¢strict¢d incom¢ endowment funds. In¢omlng resowr¢es All incoming resour￿$ ar¢ included in the statement of fmancial activities when entitlement has passed to the cEwity' it is probable that the economic benefits &8sociated with the transaction will flow to tile charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: In￿Me from donations or grants is reCO￿lSed wh¢n there is evidence of entitlement to the gill receipt is probable and its amount can be measured reliably. legacy income is recogDis¢d 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 rne￿UTe reliablyg in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value c8n b¢ reliably measwed. No amounts are included for the contribution of general volunteers. income from contra¢ts for the supply of services is recognised with the delivery of the ontracted service. This is classified as unrestricted fi￿dS unless there is a contractual requirement for it to be spent on a particular purpose 8nd r¢turn¢d if unspenL in wbich case it may be regarded as restricted. {81 Greaéer Manehesler Elhiopwi AsL¥oe￿ll￿n Un-Audlted Annual Accounts and Report For the year ended 30th June 2024 Notes to the Financial Statements (¢ontinued) 3 A¢eollntln8 pollekl