Report to the Trustees of Igbo Union Milton Keynes I report on the accounts of the charity for the year ended 31 July 2025 Respectlve Responsibilities of the Trustees and Exarniner The Trustee5 of the Association are responsible for the preparation of the accounts. The Trustee5 consider that an audit is not required for thls year undef section 144121 of the Charities Act 2011 (the 2011 Actl 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 Charity Commissioners under section 14515llbl of the 2011 Act, state whether particular matterlsl have come to my attention. Basis of an Independent Examlner's Report My examlnation was carried out Sn accordance with the General DlrectSons 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 item5 or disclosures in the accounts and seeklng explanation from you as the Charivs Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be requSred in an audit and, consequently, no opinion is glven as to whether the account present a 'true and fair view, and the report is limited to those matters set out in the statement below. Independent Examiner's Statement In connection with my examination, no matter has come to my attention: which gives me reasonable cause to believe that In any materlal respect the requirements: i. to keep accounting records in accordance with section 130 of the 2011 Act; and ii. to prepare account5 which accord with the accounting records and comply with accounting 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 understsnding of the accounts to be reached. Udeh Ehujobi Christian-lwuagwu {FCCAI ACCA Association of Chartered Certified Accountants 27 Burgh Drive Milton Keynes, MK3 5RJ ## **IGBO UNION MILTON KEYNES** ## **RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31 JULY 2025** |**NOTE**
**RECEIPTS**
Dues & Registraton
Christmas Event levies and donatons
Other Donatons & Subscriptons
Other Event Levies & Contributons
**1**
Condolence Levies
Event Grant
Women Dance hires & sprays
**2(b)**
Almanac/Uniform Launching & sales
Interest Income
Other Income
**Total Receipts**
**PAYMENTS**
Meetng Venue Hires
Insurance
Condolences Enttlements
Other Enttlements
Christmas and other Events
Website & Publicity
Administraton – Charity Commission registraton
Umunwanyioma dance
Ogbako Subscripton & Events
Educaton & Enlightenment
Other Expenses
**Total Payments**
**Excess of Income over Expenditure**|**YEAR 2025**
**££**
8,044
4,270
-
3,688
1,448
2,500
1,725
489
357
120
**22,641**
610
-
1,530
500
9,987
202
-
610
2,136
136
100
**15,810**
**6,830**|**PERIOD 2024**
**££**
5,125
-
20
25
2,256
-
894
871
117
-
**9,308**
366
177
2,500
400
-
582
599
100
-
-
-
**4,724**
**4,584**| |---|---|---| ## **IGBO UNION MILTON KEYNES** ## **BALANCE SHEET** |**Represented by:**
Bank Balances on 31 July
Cash at Hand
**2(a)**
**Current Assets**
**Current liabilites**
**3**
**Net Assets**
Excess of Income over Expenditure
**Total Reserve**|36,077
389
**36,466**
**(1,558) **
**34,908**
6,830
**41,738**|29,312
894
**30,206**
**(1,640)**
**24,344**
4,583
**33,148**| |---|---|---| ## **NOTES** **1. Other Events** This is comprised of any other Union activities outside Christmas activities. In this instance it is comprised of Cancer support walk & health talk in August 2024 for which grant of £2,500 was received from Milton Keynes Community Foundation and Novelty match between the men and women alongside summer barbecue in July 2025 ## **2. Cash at Hand** - (a) Cash at hand is dollars generated by women dance group which is converted to Pound Sterling at the rate ruling on 31 July 2025. Conversion rate of dollar to Pound was 0.7572 - (b) Umunwanyioma dance income includes $330 generated during the year converted to Pound Sterling at the rate ruling on 31 July 2025 ## **3. Condolence Levy** |Balance B/fwd
Additons during the year
Payout
**Balance C/fwd**|1,640
1,448
(1,530)
**1,558**| |---|---| ||| ## **NOTES ACCOMPANYING THE ACCOUNTS FOR THE PERIOD ENDING 31 JULY 2025** The accounts for the period ending 31 July 2025 by all intent and purposes reflect accurately the true state of income, expenditure, assets and financial state of affairs of Igbo Union Milton Keynes (IUMK). This is the second financial statement the union has produced as part of fulfilling charity registration status regulatory requirements covering the dates August 2024 to July 2025. The period was eventful as activities of the Union such as summer events (novelty match, barbeques etc.), charity work to raise money for Cancer Research/Health Awareness Talk for Prostate Cancer, and the end of year Christmas event took place. However, the Union had the challenge of some members losing their loved ones/their parents, for which bereavement entitlements were paid. ## **INCOME** The Union’s main sources of income for the period are members' dues, registration fees and levies. The second income stream is from women’s (Umunwanyioma) dance hire and spray during outings. MK Community Foundation partially sponsored our activities like the Health Talk for Prostate Cancer. We still hope to make further applications to MK Foundation and other governmental agencies for funding to help with our activities which cover education, culture, fitness & wellbeing, and tackling isolation and loneliness amongst Union members and the general MK community. ## **EXPENDITURE** The biggest financial outlay of the Igbo Union during the period was payment of condolence entitlements to bereaved members and our activity expenses such as the Christmas event and the barbeque. ## **ASSETS** The Union has only liquid assets made up of bank balances and cash at hand. The cash at hand is dollars generated by our women’s dance group which is converted to pounds at the rate ruling at period end. ## **THE FUTURE** The next financial year looks to have better prospects as we consolidate on our transition as a UK charity. The Union's main challenge, and ultimate goal, remains securing a permanent monthly meeting place to make the issue of moving from one place to another for meetings and other activities a thing of the past. To achieve this, the union has opened a property savings account towards this goal. UCHENNA ODUNUKWE CHAIRMAN BOARD OF TRUSTEES/ PRESIDENT