REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 October 2023 |
for |
ASPIRING COMMUNITIES |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 October 2023 |
for |
ASPIRING COMMUNITIES |
ASPIRING COMMUNITIES |
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
Page |
Report of the Trustees | 1 | to | 4 |
Independent Examiner's Report | 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 | to | 8 |
Cash Flow Statement | 9 |
Notes to the Cash Flow Statement | 10 |
Notes to the Financial Statements | 11 | to | 17 |
ASPIRING COMMUNITIES (REGISTERED NUMBER: 07401481) |
Report of the Trustees |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The Charity's objectives as set out in the objects contained within the company's Articles of Association are: |
To further or benefit the residents of Leeds, and locations in Scotland, Ireland and Pakistan, without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation leisure time occupation with the objective of improving the conditions of life for the residents. |
In furtherance of these objects but not otherwise, the trustees shall have the power: |
To establish or secure the establishment of a community centre and to maintain or manage or co-operate with any statutory authority in the maintenance and management of such a centre for activities promoted by the Company. |
Activities |
The objects will be achieved and realised through: |
1. To establish short term hiring, leasing and secure long term purchase of properties to function as a community centre |
2. Provision of community based activities and programmes based upon specific needs |
3. Fundraising |
-short term funding based upon donations, member subscriptions, business sponsorships |
-mid to long term funding based upon donations, member subscriptions, business sponsorships and hiring/rental of community centres for functions/events |
-the charity has expanded and evolved its fundraising activities and channels to countries out with the areas of operation. |
International Tour Expenses |
International group travel is where individuals have paid into the charity bank account and the charity have made a payment or bulk payments to tour guides, tour agencies, flights and hotels etc. |
Volunteers |
Many volunteers give up their time to help out the charity with fundraising activities. The charity is greatly indebted to these volunteers for their commitment and support. |
ASPIRING COMMUNITIES (REGISTERED NUMBER: 07401481) |
Report of the Trustees |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
Working in partnership with local communities and other organisations, our charitable aims, objects and activities centre around three main themes: |
1. Advancement of Communities |
2. Advancement of Health |
3. Advancement of Religion |
1. Advancement of Communities |
Our community based activities and development programmes revolve around specifically meeting the needs of the local communities through the provision of community centres for: |
Community Task Teams & Engagement Workshops |
Inter Faith & Multi Cultural Meeting |
Youth Career Clinics |
Community Centre Projects |
Our strategic objectives are to serve local communities on a long term basis delivered through sustainable community centre projects, with segregated facilities for: |
Community Based Events |
Sporting and Recreation Facilities |
Islamic Learning Centres |
2. Advancement of Health |
Our community health programmes will integrate the balancing needs of fitness, good dietary habits and lifestyle choices whilst addressing the specific cultural needs of ethnic groups through the provision of: |
Equal Opportunity Recreation Facilities |
Sporting Competitions and Events |
Good Health Literature |
3. Advancement of Religion |
Religious harmony is an essential component in addressing the needs of successful community integration and wider society today, our dedicated programmes will include: |
English Speaking Facilities |
Inter Faith Meetings and Events |
Open Access Islamic Learning Centres |
Throughout the year, the trustees will travel to Pakistan to promote the true and peaceful teachings of Islam and furthermore distribute aid to the poor and needy. |
FINANCIAL REVIEW |
Reserves policy |
The General fund represents funds arising from past operating results. The Directors are satisfied that the balance of the fund will enable the charity to meet its objectives. The Directors have also examined the requirement to maintain reserves for the on going work of the charity and concluded that the most appropriate level is between 6 to 12 months of operational expenditure. |
ASPIRING COMMUNITIES (REGISTERED NUMBER: 07401481) |
Report of the Trustees |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
FUTURE PLANS |
The charity currently holds a significant amount of funds in the charity account relating to the new main development at the Icepack site. |
Works are currently ongoing, with further building works and renovation underway and continuing in accordance with the approved planning permission conditions. |
The site is now expected to become operational by Q4 2024 or early 2025, extending the previously envisaged timeline of Q4 2023 or early 2024. |
The additional building, the ex Passmore Commercial Unit, will remain dormant until future plans are established to maximise the return and revenues for the charity, with the main focus and priority the Icepack site development. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
Aspiring Communities is a registered charity and also a company limited by guarantee without share capital. Aspiring Communities was established in 2010. The Memorandum of Association and Articles of Association was incorporated on 8th October 2010. The charity number is 1141103 and the company registration number is 7401481. |
Recruitment and appointment of new trustees |
The trustees have the power to appoint any person to be a trustee in accordance with the provisions of the Trust Deed. An appointed trustee holds office within the limits permitted by law. |
Organisational structure |
The charity is managed by the directors. The details of the current directors are listed below: |
Nadeem Mahammed Hanif |
Nazarbat Mahroof |
Jahan Zeb Ahmed |
All major decisions are carried out through consultation and agreement with all the trustees. |
Induction and training of new trustees |
All new trustees are given, in the view of the board, sufficient training and have enough knowledge of their specific field to the understand the nature of the charity and fully comply with the charities current views of its progression. External training sessions are provided if required. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
ASPIRING COMMUNITIES (REGISTERED NUMBER: 07401481) |
Report of the Trustees |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Independent Examiner |
SKM Chartered Accountants |
Pegasus House |
5 Winckley Court |
Mount Street |
Preston |
Lancashire |
PR1 8BU |
Bankers |
Leicester |
LE87 2BB |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Aspiring Communities |
Independent examiner's report to the trustees of Aspiring Communities ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Mrs Shamim Mahomed |
SKM Chartered Accountants |
Pegasus House |
5 Winckley Court |
Mount Street |
Preston |
Lancashire |
PR1 8BU |
28 August 2024 |
ASPIRING COMMUNITIES |
Statement of Financial Activities |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
2023 | 2022 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Charitable activities | 4 |
Total |
NET INCOME |
Other recognised gains/(losses) |
Gains/(losses) on revaluation of fixed assets | ( |
) |
Net movement in funds | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 2,085,262 |
ASPIRING COMMUNITIES (REGISTERED NUMBER: 07401481) |
Balance Sheet |
31 OCTOBER 2023 |
2023 | 2022 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 9 |
CURRENT ASSETS |
Debtors | 10 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 11 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 12 | ( |
) | ( |
) |
NET ASSETS |
FUNDS | 14 |
Unrestricted funds | 2,085,262 |
TOTAL FUNDS | 2,085,262 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
ASPIRING COMMUNITIES (REGISTERED NUMBER: 07401481) |
Balance Sheet - continued |
31 OCTOBER 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
ASPIRING COMMUNITIES |
Cash Flow Statement |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
2023 | 2022 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 377,847 | 279,698 |
Net cash provided by operating activities | 377,847 | 279,698 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (997,989 | ) | (95,087 | ) |
Interest received | 2,546 | 1,871 |
Net cash used in investing activities | (995,443 | ) | (93,216 | ) |
Cash flows from financing activities |
New loans in year | 400,185 | 22,500 |
Loan repayments in year | (20,000 | ) | (42,000 | ) |
Loan converted into donations | (2,500 | ) | (21,460 | ) |
Net cash provided by/(used in) financing activities | 377,685 | (40,960 | ) |
Change in cash and cash equivalents in the reporting period |
(239,911 |
) |
145,522 |
Cash and cash equivalents at the beginning of the reporting period |
1,486,594 |
1,341,072 |
Cash and cash equivalents at the end of the reporting period |
1,246,683 |
1,486,594 |
ASPIRING COMMUNITIES |
Notes to the Cash Flow Statement |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
2023 | 2022 |
£ | £ |
Net income for the reporting period (as per the Statement of Financial Activities) |
308,959 |
122,883 |
Adjustments for: |
Depreciation charges | 483 | 575 |
Interest received | (2,546 | ) | (1,871 | ) |
(Increase)/decrease in debtors | (17,926 | ) | 120,277 |
Increase in creditors | 88,877 | 37,834 |
Net cash provided by operations | 377,847 | 279,698 |
2. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1/11/22 | Cash flow | At 31/10/23 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 1,486,594 | (239,911 | ) | 1,246,683 |
1,486,594 | (239,911 | ) | 1,246,683 |
Debt |
Debts falling due after 1 year | (679,157 | ) | (377,685 | ) | (1,056,842 | ) |
(679,157 | ) | (377,685 | ) | (1,056,842 | ) |
Total | 807,437 | (617,596 | ) | 189,841 |
ASPIRING COMMUNITIES |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Tangible fixed assets |
Land and property is not depreciated. Buildings are maintained to ensure that their value does not diminish |
over time. The maintenance costs are charged to profit and loss in the year incurred. In the trustees' opinion, depreciation would be immaterial and has not been charged. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and Fittings - 15% on reducing balance |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
ASPIRING COMMUNITIES |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
2. | DONATIONS AND LEGACIES |
2023 | 2022 |
£ | £ |
Donations |
Gift aid |
3. | INVESTMENT INCOME |
2023 | 2022 |
£ | £ |
Interest Received | 2,546 | 1,871 |
4. | CHARITABLE ACTIVITIES COSTS |
Support |
costs (see |
note 5) |
£ |
Support costs | 59,711 |
Provision of Services | 291,297 |
351,008 |
5. | SUPPORT COSTS |
Governance |
Management | Finance | costs | Totals |
£ | £ | £ | £ |
Support costs | 43,742 | 2,495 | 13,474 | 59,711 |
Provision of Services | 291,297 | - | - | 291,297 |
335,039 | 2,495 | 13,474 | 351,008 |
Support costs, included in the above, are as follows: |
Management |
2023 | 2022 |
Provision |
Support | of | Total | Total |
costs | Services | activities | activities |
£ | £ | £ | £ |
Iftaar Campaign | - | 102,644 | 102,644 | 196,500 |
Event Expenses | - | 188,653 | 188,653 | 197,558 |
Motor & Travel expenses | 8,535 | - | 8,535 | 7,447 |
Telephone | 488 | - | 488 | 304 |
International Tours Expenses | - | - | - | 24,419 |
Sundries | 185 | - | 185 | 175 |
Insurance | 12,168 | - | 12,168 | 5,211 |
Post and Stationery | 7 | - | 7 | 2,698 |
Repairs and Renewals | 16,234 | - | 16,234 | 26,357 |
Carried forward | 37,617 | 291,297 | 328,914 | 460,669 |
ASPIRING COMMUNITIES |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
5. | SUPPORT COSTS - continued |
Management - continued |
2023 | 2022 |
Provision |
Support | of | Total | Total |
costs | Services | activities | activities |
£ | £ | £ | £ |
Brought forward | 37,617 | 291,297 | 328,914 | 460,669 |
Heat and Light | 5,628 | - | 5,628 | 1,216 |
Rates and water | 14 | - | 14 | 936 |
IT Cost | - | - | - | 750 |
Depreciation of tangible and heritage assets | 483 | - | 483 | 575 |
43,742 | 291,297 | 335,039 | 464,146 |
6. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
7. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 October 2023 nor for the year ended 31 October 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 October 2023 nor for the year ended 31 October 2022. |
8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income |
Total |
EXPENDITURE ON |
Charitable activities |
NET INCOME |
ASPIRING COMMUNITIES |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted |
fund |
£ |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 2,085,262 |
9. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
Freehold | to | and | Computer |
property | property | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 November 2022 |
Additions |
Revaluations | ( |
) | ( |
) |
Reclassification | 436,741 | (436,741 | ) | - | - | - |
At 31 October 2023 |
DEPRECIATION |
At 1 November 2022 |
Charge for year |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
Cost or valuation at 31 October 2023 is represented by: |
Fixtures |
Freehold | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
Valuation in 2023 | (1,010,561 | ) | - | - | (1,010,561 | ) |
Cost | 2,260,561 | 9,094 | 875 | 2,270,530 |
1,250,000 | 9,094 | 875 | 1,259,969 |
ASPIRING COMMUNITIES |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
9. | TANGIBLE FIXED ASSETS - continued |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 2,260,561 | - |
Value of land in freehold land and buildings | 1,250,000 | - |
Freehold land and buildings were valued on an open market basis on 7 August 2024 by Tapp Chartered Surveyors . |
The freehold property has been valued on 7th August 2024 as at 31st October 2023. This valuation was carried out by an independent surveyor. |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
Prepayments |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Accrued expenses |
12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other loans (see note 13) | 679,157 |
ASPIRING COMMUNITIES |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
13. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due between two and five years: |
Other loans - 2-5 years |
14. | MOVEMENT IN FUNDS |
Net |
At | movement | At |
1/11/22 | in funds | 31/10/23 |
£ | £ | £ |
Unrestricted funds |
General fund | 2,085,262 | (701,602 | ) | 1,383,660 |
TOTAL FUNDS | (701,602 | ) | 1,383,660 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 659,967 | (351,008 | ) | (1,010,561 | ) | (701,602 | ) |
TOTAL FUNDS | ( |
) | ( |
) | (701,602 | ) |
Comparatives for movement in funds |
Net |
At | movement | At |
1/11/21 | in funds | 31/10/22 |
£ | £ | £ |
Unrestricted funds |
General fund | 1,962,379 | 122,883 | 2,085,262 |
TOTAL FUNDS | 1,962,379 | 122,883 | 2,085,262 |
ASPIRING COMMUNITIES |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
14. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 598,648 | (475,765 | ) | 122,883 |
TOTAL FUNDS | 598,648 | (475,765 | ) | 122,883 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
At | movement | At |
1/11/21 | in funds | 31/10/23 |
£ | £ | £ |
Unrestricted funds |
General fund | 1,962,379 | (578,719 | ) | 1,383,660 |
TOTAL FUNDS | 1,962,379 | (578,719 | ) | 1,383,660 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 1,258,615 | (826,773 | ) | (1,010,561 | ) | (578,719 | ) |
TOTAL FUNDS | 1,258,615 | (826,773 | ) | (1,010,561 | ) | (578,719 | ) |
15. | RELATED PARTY DISCLOSURES |