INDIAN ASSOCIATION OLDHAM TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021 Cbarity No: l(th961
INDIAN ASSOCIATION OLDHAM CHARITY INFORMATION Permathent Mr.S.Mohandas Mr. R Kumpavat Mr. B Sistmlia Mr. R Gorasia Mr. H Panchani Charlty Number I(KW)61 Charlty Offices Indian As50CiO1ion Oldham Schofield Streei Oldham OL8 IQJ Independent Ex8mlner K Thaker Co. Chartered Certified A¢¢oynthn 39 Fieldfare Way Ashton Under Lyne OL7 9TA Bankers Barclays Bank PLC 15 St.Anns Square Manchesier M60 2PX
INDIAN ASSOCIATION OLDHAM CONTENTS Page Trustees, Report Independent Ex#min¢r'5 R¢port Statemtnt of Fln4nci*l Activities BHl4nce Shtet Note lo the Accounts 9- 11
INDIAN ASSOCIATION OLDHAM TRUSTEES, REPORT FOR THE YEAR ENDED 31ST MARCH 2021 The trustees pr¢s¢nt their r¢port and aw)unts for the year ended 3 1st March 2021. Trustees Th¢ trustees named on page I have served throughout the year. Appointm¢ni of trustees is gov¢rned by the Trust Deed of the charity. The board of Tmsiees 1$ auihorised io apwbint n¢w trusttts io fill vacancies arisin8 through resignation or death of an exisiing irusiee. Inve5trnent Powers The Trust Deed authorises the trusl¢¢s to m¥k¢ and hold investments using ihe general fund% of the charity. However, all the Surplus fijnds are currently held in low risk Bank and Building S(¢iety depo5ii accounts. Con51itutlon. objects and polleles The Charitable Trust is ¢onsiituled by Trnsi Deed, and its objects coniinu¢ to be that ofproviding social. cultural and religious activities for its members. The Trus¢5 delegate the day to day responsibilities of variou5 activitie5 to an elec executive committe¢. Developmenl, actlvltles and aehltvemtTrts The new faciliiies have helped io increase and improv¢ th¢ proYi$ion of th¢ wwiation's main obje¢iive which is ihai of providin8 reli8lQUS, Social and ¢ducattonal n¢¢ds of its m¢mbcrs. Wilh the aid of variou$ funding from the local authority and other charilable organijonS, the aSSOCbation has improved on its program of wcial and educational a¢iivilies. FlnAneial revlew Continuing efforts in rnising fid5 both for normal community activitie5 and the building fvnd produced good results. Statement of trusteej, responslbllltles The law applicable to charities in England and Wales require5 the tTU5tees to prepar¢ financial statements for each financial year, which give a true and fair view ofihe charity's financial activities during th¢ year and of its financial position at the year end. In preparin8 those financial statements. the trusiees are required- to sel¢¢t suiiable accounting policies and then apply them consisiently; to make judgements that Are rusonable and prudent; to state whether applicable arcountlll8 Standards and 51atetnents of recotnmended Practice have been followed 5ubjKI to Jny departure disc105ed and explained in the financial statements.. and to prepare the financial statthents on the on-going concern basis unless it is inappropriate to presume the charity will continue in business.
INDIAN ASSOCIATION OLDHAM TRUSTEES. REPORT FOR THE YEAR ENDED31ST MARCH 2021. The trustees are res[sIble for keepin8 xcounting records which disclose with reasonable yUracY at any lime the finan¢ial wbiiion of th¢ ¢harity and enable them to ensure thai financial siatement5 comply with the Charities Aci 2011. Try are also resw)nsible for safeguarding the asseis of the chariry and hence fow laking reasothle sw fLY the preven11 of frawj and other IrregUlties. In respect of the ind¢widen¢ examinalion. the hjvc i r¢srK)nsiThility that they tske all steps necessary in order to make themselves awart of any rele1 inf0mtiM estsblish thai the independent examiner is aware of thai infornwion. Truste¢s' Declaratlon In accordance wilh ¢hArity law, as Intste¢& we certify th._ So far as we are aware. ther¢ is no r¢l¢vant infomiation of which the charitys independent exwniner is unaware. We have thken all the slep5 n¢c¢55ary thal we oughi io have taken in order io make ourselves aware of #ny relevant financial infonnalion and to emablish the charl$ i]Klependent examiner is aware of that infornMtion. Approval This TelX)rt approved by trusthes on ...1.810112022 . and on their behalf.
INDIAN ASSOCIATION OLDHAM INDEPENDENT EXAMINER'S REPORT TOTHE TRUSTEES OF Jf4DIAN ASSOCIATION OLDHAM FOR THE YEAR ENDED 31ST MARCH 2021. l. Kishor Thaker report on the Financial Siaiements of the charity for the year ended 31 March 2021 as set out on pages 7 and 8 iogeth¢r with th¢ Trot on page5 9 to I l. Respeetlve responsibiliti¢s of the Trustees ttd the Ex#mlner Th¢ charity's trustees are responsible for the preparation of the Financial Statemenls. The chariry's trustees consider that art audit is not r¢quired for this year under se¢iion 144 of the Charitie5 A¢t 2011 (the Chariiies Act) and that an independent examination is needed. It is my responsibility as the In(kpend¢nt Examin¢r: to ¢xamine the Financial Sta¢ements under se¢tion 145 of the Chartties Act: to follow the proceduTe5 laid down in the Gen¢rnl Directions given by the Charity Commission {under section 145(5Xb) of ihe Chariiies Aci)- to stste whether particular matt¢rs have come to my attention. B8ls ofihe Independent Examiner's st*temenl My examination was ¢aled out in accordance with the General Directions given by ihe Charity Commission. An examination includes a review of the acctyJntin8 records kepi by the charity and comparison of th¢ Fitwicial Stat¢m¢nts pr¢sen¢ed with those records. It a150 includ¢s ¢onsideraiion of any unusual item5 or disclosures in the Financial Siaiements and seeking explanation from you as tn15tees concernin8 any $u¢h motters. Th¢ pTrx¢dures undertaken do not provide all lh¢ evidence that would be required in an audit and consequently no opinion is given as io wheiher the Financial Statements present a "true and fair" view and th¢ report is limited to those m8ll¢rs set out in the s¢at¢m¢nt below. Independent Eumln¢r'$ st4teThenl In connection with my examination no material rnatt¢r5 have come lo my attention which gives m¢ cause io b¢liev¢ ¢haL in any material respecL the ac£ounting rttord5 were not kept in accordance with sethion 130 of the Charities A¢t' or the F'inancial Statements did accord with the accounting records: or the Financial Statements did not Comply with the applicable Tequirements ¢on¢erning the fom and ¢onlent of Financial Statements set out in the Charities {Accounts and Reports) Regulations 2008. other than any requirement that the Financial St&LementS give a.true and fair" view which is noi a matter considered &5 part of an indep¢nd¢nt examination. I have come across no other matters in connection with the ex8rnin&tion to whi¢h attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Kishor Thaker K Thaker & Co. Chartered Certified Accountants 39 Fieldfare Way Ashton Under Lyne OL7 9TA Dat¢
INDIAN ASSOCIATION OLDHAM BALANCE SHEET AS AT 31st MARCH 2021.
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | ! | ! | ! | ! | |
| FIXED ASSETS | |||||
| Land & Buildings | 1,364,337 | 1,359,337 | |||
| Equipment | 3,844 | 3,642 | |||
| Fixture & Fittings | 10,522 | 12,379 | |||
| [2] | 1,378,703 | 1,375,358 | |||
| CURRENT ASSETS | |||||
| Debtors | [3] | 7,000 | 5,000 | ||
| Deposit on Kent Street Site | [4] | 100,000 | 100,000 | ||
| Cash at Bank | |||||
| Reserve Accounts | 54,208 | 55,978 | |||
| Bank of Baroda | 641 | 770 | |||
| Cash in Hand and at Bank | 1,000 | 919 | |||
| 162,849 | 162,666 | ||||
| CREDITORS: Amounts falling due within one year | |||||
| OBMC /Other Grants | |||||
| Accruals | 3,000 | ||||
| 3,000 | |||||
| 159,849 | 162,666 | ||||
| NET CURRENT ASSETS | 1,538,552 | 1,538,025 | |||
| CREDITORS: Amounts falling due after one year | |||||
| Member's Loans | [5] | 139,000 | 154,000 | ||
| 1,399,552 | 1,384,025 | ||||
| CAPITAL AND RESERVES | |||||
| Unrestricted Funds | |||||
| General Fund | |||||
| Bal B/Fwd | 694,925 | 676,534 | |||
| Surplus for the year | 15,527 | 18,391 | |||
| Bal C/Fwd | 710,452 | 694,925 | |||
| Restricted Funds | |||||
| Building Fund | |||||
| Bal B/Fwd | 689,100 | 689,100 | |||
| Surplus/deficit(-) for the year | |||||
| 689,100 | 689,100 | ||||
| 1,399,552 | 1,384,025 |
Approved by the Trustees:
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Date: 18/01/2022
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INDIAN ASSOCIATION OLDHAM STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31sr MARCH 2021. 2021 2020 UNRESTRICTED FUND Ib)eoming R¢sour¢es Membership Grants Donations Major events Temple Box Hall Hire Chariiies lax crediis Insurance Claim Int¢re5t Income 161 171 155 64.482 24,095 9J36 .550 12.082 11.523 21.278 28.784 181 4.159 25 142 63346 130J65 Resources Expended Administration Establi5hmeni Activities Temple Expense$ D¢preciation 13.906 29,278 10,654 83.701 9.750 5,043 1101 2,535 47.719 111.974 18J91 ESTRICTED F Buildlng Fund Fund Raising Veniures Nel movement In fundj for the year ISJ27 There were no recognised gains or losses for 2020 and 2021 other than those included in the statement of financial activity.
INDIAN ASSOCIATION OLDHAM IYOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2021. Accounting lI¢jeS 1.1. Basis of prepartion of The accounts are pre v the charity's operations which are described in the TnLstres' Report and all thich are conrinuing. The accounts have been prepared ID accordan¢¢ with ihe Staiement of Recommended Prd¢ti¢¢ for charity a¢¢ounts. 1.2. Tangible fix ajstts for use by the charity and depreciiion The Charity's main activities are carri¢d Qui from its premises ai Scofield StrttL Oldham. The charity has nol capitali5¢d items of furniture. uiensils and oifice equipment due to insignificant values. The charity ha5 also not PItalised services free of char8e and items of gifts given by worshippers to the Mple. Depre¢i#tion: D¢pr¢ciaiion is provided at ratrs calculated io WTite off the ¢os¢ less r¢$idual value of ea¢h over its expected useful life. as follows.. Equipment- Fixture & Fittirtgs- 1 Reducing balan¢e. 1 SQ/• Reducin8 balance. No deprttiation is provided on the buildin& 1.3. Incorne Voluntary income and donation5 re¢eived in ¢ash are Aceounied for as received by the eharity. Cjifts in kind And services provided by volunteers are nol ac¢ounied for due the problerns of quantification. The income from fundraising ventures is shown gross. wilh associed costs included in fund raisin8 cosis. No pernwient endowments have tttn received during th¢ peri(yJ. 1.4. Value added tax Valuc added lax is not recoverable by the charity, and as Such 15 included in the relevant cost5 111 the 5tatemcnt of financial a¢tiviti¢$. l.S. Ftsndraisin¥ eosts Fundraising expenditure compri5¢5 costs incurred in ind18 people And organisations io contribute finaneially to the charity's work. This includes the cost of advertising for donations and staging of special fundraising events. 1.6. M4Nagcment administrntlon expendlture Expenditur¢ on manag¢m¢nt and administralion of the charity includes all expenditure not directly related to charitable aciiviry or fundraising ventures. This irKludes cost of running office premises. provision of utiliti¢s and oth¢r s¢rYi¢¢s.
INDIAN ASSOCIATION OLDHAM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2021 2. Fixed Ass¢ts Land & Buildi ui m¢Dt Fixture5 & FittlD Tot*1 ost At 1.4.2020 Additions during the year .359,337 21.545 880 19.156 1,400.038 5,880 At 31J.2021 lJ64J37 22.425 19,156 1,405.918 reelatlon At 1.4.2020 Provided in the year 17.gJ3 678 6.777 1.857 24.680 2,535 3.2021 1&581 8,634 etB kvwl At 31.3.2021 lJ64J37 10.522 I J78.703 t31. 59J37 3,642 12 79 I J75J58 2021 3. Debtor8 Tax Credit on Gift Aid 7,(K)O S,0 s.0 4. Depo$ll on Kent Street Slte loo.0 I(H).CK 100,(K) Note: This d¢p05it was paid on ¢xclw)ge for one of the plots on Kent Street. The venth)r has noi b¢¢n able io complete on the purchase. so the trusttts have demanded the dep05ii back. The tNsltts are in the process of rewvering this deposil. S. Memb¢r'$ 139,(K)O 154,(K)O 139,IN O. Mernbership Annual membership Life membership 155 155 7. Grants Homes England. Community Housing FUTVJ OMBC HMRC HCA Others 60.862 3,620 3,051 1.540 14.877 21278 64,482 10
INDIAN ASSOCIATION OLDHAM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2021. 2021 2020 8. Major Events 50th Celebrations other events 9,336 9,336 9. AdmiNiitr4tlon Expenses WaLJes G¢n¢ral Donations COVID Donations Sundri¢s Posi & Stationery Bank charges Legal & Professional 9.213 702 4.4(K) 417 7,874 ,534 629 250 368 274 15.9thS 10.654 10. Establtshment Expenses Water and ground reni Insuranc¢ Light and H¢ai Repairs and Renewals Iniemet and Satellite Services Cleaning Fire & Security Kent Street proj¢¢i 305 1,062 2,841 2,007 7,018 .373 4,161 896 64,343 1,813 1.281 682 245 20,968 29.278 83,701 Note: Proposed Kent Street Asslgted Resldentlal HouglThg Scheme: Prof. eosts on feasibility And viability of the scheme L. Grant received towards consultation from Home England 20,968 64,343 60.862 N¢1 CO incurred.. 20,968 3,481 I l. Aetlvltles Youth club and Natraj Saheli Luncheon Club Functions 420 1,000 8.330 9,750 11