INDIAN ASSOCIATION OLDHAM TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Charity No: 1006961
INDIAN ASSOCIATION OLDHAM CHARITY INFORMATION Permanent Mr. S Mohandas Mr. B Sisodia MT. R Gorasia Mr. H Panchani Mr.D Chothani Charity Number 1006961 Charity Offices Indian Association Oldham Schofield Street Oldham OL8 IQJ Independent Examiner K Thaker Co. Chartered Certified Accountants 39 Fieldfare Way Ashton Under Lyne OL7 9TA Bankers Barclays Bank PLC 15 St.Anns Square Manchester M60 2PX
INDIAN ASSOCIATION OLDHAM CONTENTS Page Trustees, Report Independent Examiner's Report Statement of Flllancial Activities Balance Sheet Note to the Accounts 9- 11
INDIAN ASSOCIATION OLDHAM TRUSTEES, REPORT FOR THE YEAR ENDED 31ST MARCH 2025 The trustees present their report and accounts for the year ended 31 st March 2025 Trustees The trustee5 named on page I have served throughout the year. Appointment of trustees is govemed by the Trnst Deed of the charity. The board of Trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee. Investment Powers The Trust Deed authorises the trustees to make and hold investments using the general funds of the charity. However. all the surplus funds are currently held in low risk Bank and Building Society deposit accounts. Constitution, objects and policies The Charitable Trust is constituted by Trust Deed, and its objects continue to be that of providing social. cultural and religious activities for its members. The Trustees delegate the day to day responsibilities of various activities to an elected executive committee. Development, aetlvities 8nd gchievements The association's facilities continue lo play a central role in delivering its core objectives meeting the religious, social and educational needs of its members. With ongoing support from the local authority and other charitable organisalions, the association has been able to sustain and further develop its programme of social, cultural and educational activilies, ensuring that members and the wider community benefit from regular engagement and participation, Flnaneial revlew The association maintained strong fundraising efforts throughout the year. Regular income for ongoing community activities provided a solid financial base to support both day-to-day operations and future development plans. Subsequent to the year end, the charity repaid loans provided by members. Statement of trustees, responsibilities The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the charity's financial activities during the year and of its financial position at the year end. In preparing those financial 5tatemenls. the tru5t¢es are required.. to select suitable accounting policies and then apply them conslstently. to make judgements that are reasonable and prudent. to state whether applicable accounting standards and statements of recommended practice have been followed subject to any departure disclosed and explained in the financial statements- and to prepare the financial statements 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 ENDED 31ST MARCH 2025 The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 201 l. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and other irregularities. In respect of the independent examination. the trustees have a responsibility to ensure that they take all steps necessary in order to make themselves aware of any relevant infonnation and to establish that the independent examiner is aware of that tnforniation. Trustees, Declaration In accordance with charity law, as trustees, we certify that... So far as we are aware, there is no relevant infomlation of which the charity's independent examiner is unaware. We have taken all the steps necessary that we ought to have taken in order to make ourselves aware of any relevant financial infomiation and to establish that the charity's independent examiner is aware of that infornlation. Approval This report was approved by the trustees on l.t .. .>.6.. and signed on their behalf.
INDIAN ASSOCIATION OLDHAM INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF INDIAN ASSOCIATION OLDHAM FOR THE YEAR ENDED 31ST MARCH 2025 I, Kishor Thaker report on the Financial Statements of the charity for the year ended 31 March 2025 as set out on pages 7 and 8 together with the notes on pages 9 to I l. Respective responsibilities of the Trustees and the Examiner The charity's trustees are responsible for the preparation of the Financial Statements. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility as the Independent Examiner.. to examine the Financial Statements under section 145 of the Charities Act; to follow the procedures laid down in the General Directions given by the Charity Commission (under seclion 145(5)(b) of th¢ Charities Act). to state whether particular matters have come to my attention. Basis of the Independent Examiner's statement My examination was cattied out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the Financial Statements presented with those records. It also includes consideration ot any unusual items or disclosures in the Financial Statements and seeking explanation from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether th¢ Financial Statements present a 'true and fair view and the report is limited to those matters set out in the statetnent below. Independent Examiner's statement In connection with my examination no material matters have come to my attention which gives me cause to believe that, in any material respect, the accounting records were not kept in accordance with section 130 of the Charities Act. or the Financial Statements did not accord with the accounting records. or the Financial Statements did not comply with the applicable requirements concerning the form and content of Financial Statements sel out in the Charities (Accounts and Reports) Regulations 2008, other than any requirement that the Financial Statement5 give a "true and fair" view which is not a matter considered as part of an independent examination. I 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. Kishor Thaker K Thaker & Co. Chartered Certified Accountants 39 Fieldfare Way Ashton Under Lyne OL7 9TA 8..01-202 Date
INDIAN ASSOCIATION OLDHAM BALANCE SHEET AS AT 31st MARCH 2025 2025 2024 Notes FIXED ASSETS Land & Buildings Equipment Fixture & Fittings 1.396,001 6,957 8,059 1,411,017 .396.001 2,360 9,482 ,407,843 [2] CURRENT ASSETS Debtors Deposit on Kent Street Site Cash al Bank Reserve Accounts Barclays Barclays Premium Cash in Hand and at Bank [31 [4] 10,000 100,000 11,665 loo,000 68.228 1,000 1.029 410 180.667 33,388 1.000 1,014 147 067 CREDITORS: Amounts falling due within one year Membels Loans Accruals [5] 49,500 3,832 S3J32 127,334 1,538,352 147,067 1,554,910 NET CURRENT ASSETS CREDITORS: Amounts falling due after one year Member'5 Loans 67,000 1,538,352 1,487,910 CAPITAL AND RESERVES Unrestrieted Funds General Fund Bal BIFwd Surplus for the year Bal CIFwd 798,810 50,442 795,723 3.087 849,252 798.810 Restricted Funds Building Fund Bal BIFwd Surplusldeficit(-) for the year 689,100 689,100 689,100 689,100 1,538,352 1,487,910 Approve ustee Date . cl, /.
INDIAN ASSOCIATION OLDHAM STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025 2025 2024 Notes UNRESTRICTED FUNDS Incoming Resourees Membership Granls Donations Special Collection Temple Box Hall Hire Charities tax credits Rent Interest Income [7] 12,890 54,136 685 16,317 3,501 22,431 8,000 31.230 11,153 17,735 4,525 7,000 600 444 882 110,842 80,687 Resources Expended Administration Establishment Activities Temple Expenses Depreciation 18] (9] [10] 13.136 26,723 12,390 5.501 2.650 13,803 45.068 12,503 4,136 2,090 60,400 50,442 77,600 3,087 RESTRICTED FUNDS Building Fund Fund Raisingi Ventures Net movement in funds for the year 50,442 3,087 There were no recognised gains or losses for 2024 and 2025 other than those included in the statement of financial activity.
INDIAN ASSOCIATION OLDHAM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025 l. Accounting policies 1.1. Basis of preparation of aceounts The accounts are prepared under the hislorical cost convention and include the results of the charity's operations which are described in the Trustees, Report and all which are continuing. The accounts have been prepared in accordance with the Statement of R¢¢ommended Practice for charity accounts. 1.2. Tangibl¢ fixed assets for use by the charity and depreciation The charity's main activities are carried out from its premises at Scofield Street. Oldham. The charity has not capitalised items of rniture, utensils and office equipment due to insignificant values. The charity has also not capitalised services free of charge and items of gifts given by worshippers to the temple. Depreciatlon: Depreciation is provided at rates calculated to Mrite off the cost less residual value of each over its expect¢d use] life, as follows: Equipment- Fixture & Fittings - 150/0 Reducing balance. 15010 Reducing balance. No depreciation is provided on the building. 1.3. Income Voluntary income and donations received in cash are accounted for as received by the charity. Gifts in kind and services provided by volunteers are not accounted for due the problems of quantification. The income from fundraising ventures is shown gross, with associated costs included in fund raising costs. No pernianent endowments have been received during the period. 1.4. Value added tax Value added tax is not recoverable by the charity, and as such is included in the relevant costs in the statement of financial activities. .5. Fundraising costs Fundraising expenditure comprises costs incurred in inducing people and organisations to contribute financially to the charity's work. This includes the cost of advertising for donalions and staging of special fundraising events. 1.6. Management and Administration expendlture Expenditure on management and administration of the charity includes all expenditure not directly related to charitable activity or fundraising ventures. This includes cost of running office premises, provision of utilities and other services.
INDIAN ASSOCIATION OLDHAM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025 2. Fixed Assets Land & Buildin ui ment Fixtures & Fittin Total Cost At 1.4.2024 Additions during the year ,396,001 22,425 5,824 23,336 1,441,762 5,824 At 31.3.2025 1,396,001 28,249 23J36 ,447,586 De reciation At 1.4.2024 Provided in the year 20,065 1.228 13,854 1.422 33,919 2.650 At 31.3.2025 21,292 15,277 36,569 Net Book Value At 31.3.2025 1,396,001 6,957 1,411,017 At 31.3.2024 1,396,001 2,360 9,482 1,407,843 2025 2024 3. Debtors Tax Credit on Gift Aid i 0,000 11,665 10,000 11,665 4. Deposit on Kent Street Site i 00,000 100,000 loo,000 i 00,000 Note: This deposit paid on exchange for one of the properties on Kent Street, may not be recoverable. The trustees have tried their best to apprach the vendor. He kept on promising to pay and now he has totally disappeared. The trustees have taken legal opnion on the recovery options available. The advice given was that it will cost substantial sum to pursue his company, and even if successful, that company has no reserves, so would be liquidted. We would have lost further funds in legal fees. The Charity Commission has been notified about this potentail bad debt. In the coming weeks, the Excutive Committee will be creating a sub committee to look at the debt, with the possibility of writing it off in a manner perniitt¢d by the Constitution and Charity law. S. Member's Loans 49,500 67.000 49,500 67,000 6. Membership Annual membership Life membership 10
INDIAN ASSOCIATION OLDHAM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025 2025 2024 7. Grants OMBC Action Together Lottery Fund 8,000 500 12,390 12,890 8,000 8. Adminislration Expense5 Wages Special Collection Donation Post & Stationery Bank charges Subscriptions 12,210 445 12,270 702 100 572 159 170 13,136 13,803 9. Establishment Expenses Water and ground rent Insurance L.ight and Heat Repairs and Renewals Internet and Satellile Services Cleaning 2,904 3,832 12,290 2,529 1,436 3,732 1.299 4,255 5,673 24,843 5,332 3,666 26,723 45,068 10. Aetivities Luncheon Club Functions 12,390 12,503 12,390 12,503 11