IGBO UNION MILTON KEYNES
NOTE5 ACCOMPANYING THE ACCOUNTS FOR THE PERIOD ENDING 31 JULY
2024
The accounts for the period ending 31 July 2024 by all intent and purposes reflect accurately
the true state of income, expenditu￿, assets and tinancial state of affairs of Igbo Union Milton
Keynes IIUMKI. This is the first financial 5tstement the union has produced as part of fulfllllng
charity re8iStration ststus regulatory requirement covering the dates 14 December 2023 to 31
July 2024.
The period was not eventful as usual activities of the Unlon like Christmas and summer events
took place either prior to 14 December 2023 or after 31 July 2024 followin8 gradual recovery
and return to normalcy post<ovid. However, the Unlon had the challenge of five members
losing one of their parents for which bereavement entitlements were paid.
INCOME
The Union main sources of income for the period are members, dues, reglstrafjon fees and
levies. The second income stream 15 from Women Iumunwanyiomal dance hire and Spray
during outings. Addltional income was by way of recoveries from pledge5 made during 2022
Christmas eventlalmanac launching. The Union has Started exploring the possibilities of
getting financial assistance andlor grant from government or funding agencie5 to execute
some of its major attlvitie5 to reduce flnancial levie5 on members to help achieve its goals of
inclusion. education, fitne55 & wellbein& tackling isolation. etc among member5 and the
general community.
EXPENDITURE
The biggest Thnancial outlay of the Union during the period was payment of condolence
entitlements to bereaved members.
ASSErs
The Union has only liquid assets made up of bank balances and cash at hand. Cash at hand Is
dollars generated by women dance group which is converted to pounds at the rate ruling at
period end.
THE FUTURE
The next financial year Is looklng to have better prospects and challenging at the same time
a5 the unlon wade5 the transition from community interestto charity status. The Union's main
challenge and ultimate goal remains securin8 a permanent monthly meeting place and by so
doin8 make the i55ue of moving from one place to another for meetings and other acttvities a
thing of the past. To overcome this, the union continues to save every penny it can towards
the acquisition of own land/building.
UCHENNA ODUNUKWE- CHAIRMAN 80ARD OF TRUSTEES/ PRESIDENT

IGBO UNION MILTON KEYNES
RECEIPTS AND PAYMENTS FOR THE PERIOD ENDED 31 JULY 2024
NOTE 2024
££
RECEIPTS
Dues & Re8iStration
Donatlons & Subscriptions
Event Levies & Contributions
Condolence Levies
Women Dance hires & sprays
Almanac/Uniform Launching & sales
Interest In¢ome
Total Recelpts
5.125
20
25
2,256
894
971
117
9A07
Ilb)
PAYMEN15
Meettng Venue Hire5
Insurance
Condolences Entitlements
Other Entitlements
Website & Publicity
Administration- Charity Commission registration
Almanac Launching Refunds
Umunwanyioma dance
Total Payments
366
177
2,500
400
582
599
loo
loo
Excess of Income over Expendlture
BALANCE SHEET
Represented by:
Bank Balances on 31 July
Cash at Hand
Current A55ets
Current liablllties
Net A55etS
Excess of Income over Expenditure
Totsl Re5eTve
29,312
894
30.206
l{a)
24,344

NOTES
l. Cash at Hand
{al Cash at hand is dollars generated by women dance group which is converted to Pound
Sterling at the rate ruling on 31 july 2024. Conversion rate of dollar to Pound was
0.7779
(b} Umunwanyioma dance income includes $326 generated during the period converted
to Pound Sterling at the rate ruling on 31 July 2024
Z. Condolence Levy
Balance Blfwd
Contributlons
Payout
Balance Clfwd
1.884
2,256

Report to the Trustees of Igbo Union Milton Keynes
I report on the accounts of Igbo Union Milton Keynes (IUMK) for the period ended 31 July
2024.
Respective Responslbllltles of the Trustees and Examiner
The Trustees of the Association are responsible for the preparation of the accounts. The
Trustees consider that an audit is not required for this period under Section 144121 of the
Charities Act 2011 (the 2011 Act} and that an independent examination is needed.
It is my responsibility to:
examine the accounts under section 145 of the 2011 Act,
follow the procedures laid down in the General Directions given by the Chartty
Commissioners under section 145{Sllbl of the 2011 Act.
state whether particular matterlsl have come to my attention.
Basls of an Independent Examinerfs Report
My examination was carried out in accordance with the General Direction5 given by the
Charity Commission. An examination includes a review of the accounting records kept by the
Charity and a comparison of the accounts presented with those records. It also includes
consideration of any unusual items or disclosures in the accounts and seeking explanation
from you as the Charitvs Trustee5 concerning any such matters. The procedures undertaken
do not provide all the evidence that would be required in an audit and, consequently, no
opinion is given as to whether the accounts present a 'true and fair view, and the report is
limited to those matters set out in the statement below.
Independent Examinerfs Statement
In connection with my examination, no matter has come to my attention:
which gives me reasonable cause to believe that in any material respect the
requirements:
i. to keep accounting records In accordance with section 130 of the 2011
Act; and
ii. to prepare accounts which accord with the accounting records and
comply with accountlng requirements of the 2011 Act, have not been
met,. or
2. to which, in my opinion, attention should be drawn in order to enable a proper
understanding of the accounts to be reached.
Udeh Christian-lwuagwu
FCCA
Association of Chartered Certified Accountants
17 March 2025
27 Burgh Drive
Newton Leys, Bletthlev
Milton Keynes, MK3 51U