Registered number
05298722
Race Equality Network Limited
Filleted Accounts
31/03/2024
Race Equality Network Limited
(R E N)
Company Information
Directors/ Trustees
Mr Yusuf Karolia (chair joined 1/10/2000)
Peter Tate (vice chair joined 1/08/2020)
Shadim Hussain (trustee joined 1/10/2020)
Humayun Islam BEM (trustee joined 1/08/2020)
Abdul Ismail (trustee joined 1/10/2000)
Sofia Mahmood MBE (trustee joined 1/09/2020
Anne Marie Smith (trustee joined 1/09/2020)
Nadera Amini (trustee joined 1/09/2020)
Manjit Kaur (trustee joined 1/08/2020)
Charles Dacres (trustee joined 1/08/2020)
Ashok Kumar Nair (trustee joined 1/10/2020)
Secretary/ Trustee
Dr Mohammed Salam (trustee joined 1/10/2000)
Accountants (Independent Examiners)
Adam & Co Accountancy Ltd
First Floor
1 Edmund Street
Bradford
West Yorkshire
BD5 0BH
Bankers
Virgin Money (Yorkshire Bank)
1 Westgate
Shipley
BD18 3SD
Registered office
Grange Interlink Community Centre
Summerville Road
Bradford
BD7 1PX
Registered number
Registered number at Charities Commission is 1124251
Registered number is 05298722 at Companies House
Private company limited by guarantee without share capital
Race Equality Network Limited
Registered number: 05298722
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Debtors 4 - 12,590
Investments held as current assets - -
Cash at bank and in hand 187,945 133,313
187,945 145,903
Creditors: amounts falling due within one year 5 (10,431) (2,570)
Net current assets 177,514 143,333
Net Assets 177,514 143,333
Capital and reserves 6
Income and expense account 177,514 143,333
Capital and reserves 177,514 143,333
- -
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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Yusuf Karolia (Chair)
Approved by the board on 18 October 2024
Race Equality Network Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 management
fees.
a. Costs of raising and generating funds
b. Grants and donations payable in furtherance of the charity's objectives
c. Activities in furtherance of the charity's objectives
d. Management and administration of the charity
Winding up or dissolution of the charity
If upon winding up or dissolution of the charity there remain any assets, after the
satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall
be transferred to some other charitable body or bodies having similar objects to the charity.
Analysis of incoming resources and analysis of management
and administration costs
The details required by the Statement of Recommended Practice for Accounting and
Reporting issued by the Charity Commissioners for England & Wales
are shown in the Statement of Financial Activities (income and expenditure account).
Equipment, furniture and it policy
These are written off through income and expenditure accounts.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 (i) Donations and income generated as a charity 2024 2023
£ £
Donations and grants 163,230 95,603
Adjustment to reserves - 418 84
Interest receivable 6,204 3,177
(ii) Costs of activities in furtherance of the charity's objectives
Direct costs and administration costs 134,835 153,897
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
There were no employees with emoluments in excess of £50,000 per annum
4 Debtors 2,024 2,023
£ £
Trade debtors - 12,590
5 Creditors: amounts falling due within one year 2,024 2,023
£ £
Trade creditors and accruals 8,290 2,014
Attachments, student loans and pensions 273 452
Taxation and social security costs (PAYE/NI) 1,868 104
10,431 2,570
6 Analysis of assets and liabilities representing each of the charity's funds
Representing capital reserves
At 31 March 2024
(Current year)
Unrestricted
funds
Restricted
funds
Designated
funds
Total
Funds
£ £ £ £
Tangible fixed assets - - - -
Current Assets 20,674 167,271 - 187,945
Current Liabilities (creditors) - (10,431) - (10,431)
Long Term Liabilities (creditors) - - - -
20,674 156,840 - 177,514
At 1 April 2023
(Previous year)
Unrestricted
funds
Restricted
funds
Designated
funds
Total
Funds
£ £ £ £
Tangible fixed assets - - - -
Current Assets 16,049 129,854 - 145,903
Current Liabilities (creditors) - (2,570) - (2,570)
Long Term Liabilities (creditors) - - - -
16,049 127,284 - 143,333
11% 89% 100%
6 Related party transactions
There were no other related party transactions.
7 Controlling party
The directors (trustees) have control over the company.
8 Other information
Race Equality Network Limited is a private company limited by guarantee and incorporated in England. Its registered office is:
Grange Interlink Community Centre
Summerville Road
Bradford
BD7 1PX
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