Registered Charity Number 326961
Registered Company Number 01949939
New Summerville Limited
Report and Accounts
31 December 2021
New Summerville Limited Report and accounts Contents
| Page | ||
|---|---|---|
| Company information | 2 | |
| Directors' report | 3 | |
| Accountants' report | 5 | |
| Statement of Financial Activities | 6 | |
| Profit and loss account | 7 | |
| Balance sheet | 8 | |
| Notes to the accounts | 9 | |
| Detailed Statement of Financial Activities | 12 |
1
New Summerville Limited Company Information
| Directors | Hossam Ayad Saleh |
|---|---|
| Dr N Al Ramadhani(Chairman) | |
| Secretary | Schofield Sweeney LLP |
| Trustees | Dr N Alramadani |
| Hossam Ayad Saleh | |
| Reporting accountants | K & HM Ltd |
| 9 Norville Terrace | |
| Headingley Lane | |
| Leeds | |
| West Yorkshire | |
| LS6 1BS | |
| Bankers | Santander UK Plc |
| Bridle Road | |
| Bootle | |
| Merseside | |
| L30 4GB | |
| Solicitors | Graham Stowe Bateson |
| Portland House | |
| 5 & & Portland Street | |
| Leeds | |
| LS1 3DR | |
| Registered office | 2 Claremont |
| Bardford | |
| West Yorkshire | |
| BD7 1BQ | |
| Company registered number | 01949939 |
| Charity number | 326961 |
2
New Summerville Limited The report of the trustees
The trustees present their annual report and accounts for the year ended 31 December 2021.
Name
The full name of the charity is New Summerville Limited. The charity is not known by any other names.
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
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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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 1985. 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.
Principle activity
The principle object of the Company is to advance the Islamic Religion by the promotion of study and research concerning the Islamic religion and by the publication of religious literature. To advance education and in particular amongst the Islamic community in the United Kingdom.
Trustees' Interests
The Trustees, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report, are set out on page 2.
Constitution
The Company was incorporated on 25 September 1985 as a company limited by guarantee No:01949939. It is a registered charity under the Charities Act, 1960 No:326961.
Review of Activities and Future Developments
The board of trustees are satisfied with the performance of the charity during the year and the position at 31 December 2021 and consider that the charity is in a strong position to continue its activities during the coming year, and that the charity's assets are adequate to fulfil its obligations.
3
New Summerville Limited The report of the trustees
Financial Review
The Company made a surplus for the year ended 31 December 2021 amounting to £18,345 . This compares to a surplus for the year ended 31 December 2019 of £34,413.
Investment Policy
The Memorandum of Association authorises the Trustees' to make and hold investments using the general funds of the charity.
Reserves Policy
The Trustees are aware of the legal duty to apply funds within a reasonable time of receiving them.
Risk management
The Trustees' have assessed the major risks to which the charity is exposed, in particular those related to the operations, business and finances of the Company and they are satisfied that systems are in place to mitigate exposure to the major risks. These procedures are reviewd annually to ensure they still meet the needs of the Company.
Accountants
A resolution for the re-appointment of K & HM Ltd will be made at the Annual General Meeting.
Small Company provisions
This report has been prepared in accordance with the special provisions for small companies under Part VII of the Companies Act 1985.
This report was approved by the board of trustees on 28 September 2022.
Dr N Al Ramadhani Director and Trustee
4
New Summerville Limited
Accountant's Report
As described on page 3 the company's Directors are responsible for the preparation of the financial statements for the year ended 31 December 2021 and they believe that the Company is exempt from an audit.
In accordance with their instructions and in order to assist the directors to fulfill their responsibilities we have prepared the accounts on pages 6 to 12 from the accounting records and from information and explanations supplied to us. We have not performed an audit and we do not provide any assurance that the accountsshow true and fair view, which remains the sole responsibility of the directors.
It is our responsibility to examine the accounts and based on our examination to report our opinion as set out below.
Basis of opinion
We conducted our examination in accordance with the appropiate standards for reporting accountants issued by the Auditing Practices Board.
The examination was not an audit conducted in accordance with Auditing Standards. Accordingly we do not express an audit opinion on the accounts. Therefore our examination does not provide any assurance that the accounting records and the accounts sre free from material misstatement.
Accountant's report and opinion
In our opinion :-
(a) The financial statements are in agreement with the accounting records kept by the company as required by the Companies Act 2006.
(b) Having regard only to, and on the basis of, the information contained in those accounting records :
1) the financial statments have been drawn up in a manner consistent with the accounting requirements as specified by the Companies Act ;
2) the company satisfied the conditions for exemption from an audit of the financial statements for the year specified in section 477 of the Act and did not at any time within that year , fall within any of the categories of companies not entitled to the exemption specified in section 249B(1)
K & HM Ltd Chartered Certified Accountants
9 Norville Terrace
Headingley Lane Leeds West Yorkshire LS6 1BS
28 September 2022
5
New Summerville Limited
Statement of Financial Activities for the year ended 31 December 2021
| Unrestricted | Restricted | Total | Last Year | ||
|---|---|---|---|---|---|
| Funds | Funds | Funds | Total Funds | ||
| INCOMING RESOURCES | |||||
| Notes | 2021 | 2021 | 2021 | 2020 | |
| £ | £ | £ | £ | ||
| Incoming Resources | |||||
| Operating activities in furtherance of charity's objects | 44,191 | - | 44,191 | 48,100 | |
| Investment income | - | - | - | 58 | |
| Total Incoming Resources | 44,191 | - | 44,191 | 48,158 | |
| Net Incoming Resources available for | |||||
| charitable applications | 44,191 | 44,191 | 48,158 | ||
| RESOURCES EXPENDED | |||||
| Costs of raising and generating funds | 6,019 | - | 6,019 | 5,823 | |
| Charitable Expenditure | |||||
| Grants payable in furtherance of the charity's objects | 9,500 | - | 9,500 | 3,500 | |
| Activities in furtherance of charity's objectives | 736 | - | 736 | 653 | |
| Support costs of activities | - | - | - | - | |
| Management and Administration of the Charity | 9,591 | - | 9,591 | 3,769 | |
| Total Resources expended | 19,827 | - | 19,827 | 7,922 | |
| Net Incoming Resources before Transfers | 2 | 18,345 | - | 18,345 | 34,413 |
| and investment asset disposals | 18,345 | - | 18,345 | 34,413 | |
| Net Movement in Revenue funds | 18,345 | - | 18,345 | 34,413 | |
| Total Revenue funds brought forward | 795,002 | - | 795,002 | 760,589 | |
| Total Revenue funds carried forward | 813,347 | - | 813,347 | 795,002 | |
| Total Funds carried forward | 813,347 | - | 813,347 | 795,002 |
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New Summerville Limited
Profit and Loss Account for the year ended 31 December 2021
| Turnover Direct costs of turnover Gross profit Management and Administration of the Charity Operating profit Interest receivable Profit on ordinary activities before tax Retained profit for the financial year |
2021 £ 44,191 6,019 38,172 19,827 18,345 - 18,345 18,345 |
2020 £ 48,100 5,823 42,277 7,922 34,355 58 34,413 34,413 |
|---|---|---|
7
New Summerville Limited Balance Sheet as at 31 December 2021
| Notes Fixed assets Tangible assets 5 Current assets Debtors 6 Cash at bank and in hand Creditors:- amounts due within one year 7 Net current assets Total assets less current liabilities Creditors:- amounts due after more than one year 8 Net assets Funds Unrestricted revenue reserves Resources freely available Accumulated Funds |
10,135 248,730 258,865 (600) |
2021 £ 713,100 713,100 258,265 971,365 (158,018) 813,347 813,347 813,347 813,347 |
6,750 234,234 240,984 (594) |
2020 £ 712,630 712,630 240,390 953,020 (158,018) 795,002 795,002 795,002 795,002 |
|---|---|---|---|---|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companiessubject to the smal companies regime. The profit and loss account has not been delivered to the Registrar Of Companies.
Approved by the directors on 28 September 2022
Dr N Alramadani Director
8
New Summerville Limited Notes to the Accounts for the year ended 31 December 2021
1 Accounting policies
Accounts preparation
The financial statements have been prepared in accordance with the Charities Act 1993 and with the Financial Reporting Standard for Smaller Entities (FRSSE) effective January 2005 and all other applicable accounting standards, as modified by the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, published in 2005.
Accounting convention
The financial statements are prepared, on a going concern basis, under the historical cost convention as modified by the revaluation of freehold land and buildings and fixed asset investments.
Incoming Resources
Donations and legacies are accounted for when received by the Association. Other income is accounted for on an accruals basis as far as is prudent to do so.
Investment Income
Bank interest is included in the income and expenditure account on a receivable basis.
Deferred Income
In accordance with the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales grants received in advance and specified by the donor as relating to specific accounting periods or alternatively which are subject to conditions which are still to be met are deferred on an accruals basis to the period to which they relate. Such deferrals are shown in the notes to the accounts and the sums involved are included as creditors in the accounts.
Recognition of Liabilities
Liabilities are recognised on the accruals basis in accordance with normal accounting principles, modified where necessary in accordance with the guidance given in the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales .
Charitable expenditure
Charitable expenditure includes all expenditure directly related to the objects of the charity and comprises the following :-
Costs of raising and generating funds
The costs of raising and generating funds includes fees incurred in respect of investment management fees.
Grants payable in furtherance of the charity's objectives
The Charity receives grant applications from a number of client organisations, and every application is considered by the board of trustees in relation to pre agreed parameters. The board may accept or reject the application or accept the application subject to conditions.
Activities in furtherance of the charity's objectives
The costs of activities in furtherance of the charity's objectives represents the cost of goods and services and ancillary trading costs that have been incurred in charitable activities.
Management and administration of the charity
Management and administration costs represent expenditure incurred in the management of the charity's assets, organisational administration and compliance with charitable and statutory requirements.
9
New Summerville Limited Notes to the Accounts for the year ended 31 December 2021
Allocation of costs within types of resources expended
The charity's operating costs include staff costs, rent and other related costs.Such costs are allocated between types of resources expended on the basis of estimates made by the trustees.
Administration expenditure includes all expenditure not directly related to direct charitable activity. In respect of certain items of expenditure it is a matter of judgement as to whether such items are direct charitable expenditure or are administrative, and the trustees have applied what they consider to be reasonable judgements in apportioning such costs.
Unrealised and realised gains
Realised gains and losses are included in the accounts on the date at which a contractual obligation is entered into.
Unrealised gains and losses are computed by reference to the market value of the investments at the balance sheet date, compared to the brought forward cost or valuation, and gains and losses arising on similar categories of investments are netted off.
Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Items of less than £100 are not capitalised.
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful economic lives.
| Freehold Building | Nil |
|---|---|
| Plant and machinery | 15 % on the reduced balance. |
Taxation
As a registered charity, the organisation is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the organisation, and is therefore included in the relevant costs in the Statement of Financial Activities.
Funds Structure policy
The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment.
| 2 | Net Incoming Resources before Transfers | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| This is stated after crediting :- | |||
| Revenue Turnover from ordinary activities | 44,191 | 48,100 | |
| and after charging:- | |||
| Depreciation of owned fixed assets | 736 | 653 | |
| Reporting Accountant's fees | 600 | 594 | |
| 3 | Investment Income | 2021 | 2020 |
| £ | £ | ||
| Interest receivable | - | 58 |
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New Summerville Limited
Notes to the Accounts
for the year ended 31 December 2021
5 Tangible functional fixed assets
| Cost At 1 January 2021 Additions At 31 December 2021 Depreciation At 1 January 2021 Charge for the year Depreciation on revaluation On disposals At 31 December 2021 Net book value At 31 December 2021 At 31 December 2020 6 Debtors Trade debtors 7 Creditors: amounts falling due within one year Accrued expenses 8 Creditors :- Amounts Falling due after one year Bank loans and overdrafts Loan from trustees |
Land and buildings £ 708,929 - 708,929 - - - - - 708,929 708,929 |
Fixtures & Fittings £ 60,721 1,207 61,928 (57,020) (737) - - (57,757) 4,171 3,701 2021 £ 10,135 10,135 2021 £ 600 600 2021 £ - 158,018 158,018 |
Total £ 754,621 70 754,691 - - - - - 713,100 712,630 2020 £ 6,750 6,750 2020 £ 594 594 2020 £ - 158,018 158,018 |
|---|---|---|---|
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New Summerville Limited Schedule to the Statement of Financial Activities for the year ended 31 December 2021
| INCOMING RESOURCES Operating activities in furtherance of charity's objects Charitable letting of none investment property Investment income Interest receivable TOTAL INCOMING RESOURCES Costs of raising and generating funds Commissions payable CHARITABLE EXPENDITURE Grants per detailed schedule Grants payable in furtherance of the charity's objectives Depreciation of assets used for charitable purposes Premises Costs Rates & water & Service charge Cleaning Repairs and maintenance General administrative expenses: Bank Charges Sundry expenses Legal and professional costs Reporting Accountant's Fees Other professional fees Insurance Total Management and Administration of the Charity SCHEDULE OF INVESTMENT INCOME Interest Receivable Bank Interest |
Unrestricted Total Prior Period Funds Funds Total Funds 2021 2021 2020 44,191 44,191 48,100 44,191 44,191 48,100 - - 58 - - 58 44,191 44,191 48,158 6,019 6,019 5,823 6,019 6,019 5,823 9,500 9,500 3,500 736 736 653 736 736 653 - - - 457 457 - 5,098 5,098 1,805 5,555 5,555 1,805 90 90 90 20 20 13 110 110 103 600 600 594 1,535 1,535 1,267 1,791 1,791 - 3,926 3,926 1,861 9,591 9,591 3,769 Unrestricted Total Prior Period Funds Funds Total Funds 2021 2021 2020 - - 58 - - 58 |
|---|---|
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