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2023-07-31-accounts

Charity Registration No. 1013340

Company Registration No. 02728600 (England and Wales)

HEAL

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

HEAL

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Dr K S Prasad
Mr V Gidney
Ms M Renton
Ms A Bane
Mr M J Church
Dr P K Gandamaneni
Ms J D Constance
Dr A K Aggarwal
Charity number 1013340
Company number 02728600
Registered office 1a Church Street
Alwalton
Peterborough
Cambridgeshire
United Kingdom
PE7 3UU
Independent examiner TC Group
20 Commerce Road
Lynch Wood
Peterborough
Cambridgeshire
England
PE2 6LR

HEAL

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 10

HEAL

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 JULY 2023

The trustees present their report and financial statements for the year ended 31 July 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "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

The charity's objects are to relieve the sickness, and to aid preservation and protection of health and advancement of education in the country and other countries in the world.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

During the year we have continued with our objective of raising funds to assist in covering the running costs of the Paradise Village residential school in conjunction with HEAL India and other funding partners. We also cover the full running costs of the original three projects in India (Guntar, Bhadrachalam and Vijayawada Kanuru) from funds raised.

Financial review

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a minimum of £50,000. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

The charity intends to continue raising funds to cover the projects in India.

HEAL

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2023

Structure, governance and management

HEAL was incorporated as a company on 3 July 1992.

The charity is a company limited by guarantee, its governing document being the Memorandum or Articles of Association.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Dr K S Prasad

Mr V Gidney Ms M Renton

Ms A Bane Mr M J Church Dr P K Gandamaneni Ms J D Constance Dr A K Aggarwal

We seek to bring new trustees onto the board who can complement the skills base of the existing members of the board. Invitation is made at the AGM and at other times throughout the year. Interested parties are invited to meet the Chairperson and other trustees to obtain an understanding of the charity, its aims and objectives and how they may be able to further the development of the charity.

The chairperson formally proposes any new trustees tot he full board and, if approved, the new trustee is invited to join the board of trustees.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The trustees meet on a regular basis, normally bi-monthly to consider and decide the strategic direction and policy of the charity. The board also take the opportunity to consider issues such as legal, premises, planning and staffing matters which have arisen between meetings.

The trustees' report was approved by the Board of Trustees.

Mr V Gidney

Trustee Dated: 24 April 2024

HEAL

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF HEAL

I report to the trustees on my examination of the financial statements of HEAL (the charity) for the year ended 31 July 2023.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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 that in any material respect:

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 financial statements to be reached.

TC Group

20 Commerce Road Lynch Wood Peterborough Cambridgeshire PE2 6LR England

Dated: 25 April 2024

HEAL

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Charitable activities
3
20,963
87,707
Investments
4
357
-
Total income
21,320
87,707
Expenditure on:
Charitable activities
5
1,670
177,121
Net
incoming/(outgoing)
resources before
transfers
19,650
(89,414)
Gross transfers between
funds
(89,414)
89,414
Net expenditure for the year/
Net movement in funds
(69,764)
-
Fund balances at 1
August 2022
176,753
-
Fund balances at 31
July 2023
106,989
-		 Total Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
108,670
22,527
141,019
357
46
-
109,027
22,573
141,019
178,791
2,996
176,755
(69,764)
19,577
(35,736)
-
(33,449)
33,449
(69,764)
(13,872)
(2,287)
176,753
190,625
2,287
106,989
176,753
-		 Total
2022
£
163,546
46
163,592
179,751
(16,159)
-
(16,159)
192,912
176,753

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

HEAL

BALANCE SHEET

AS AT 31 JULY 2023

Notes
Current assets
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due within
one year
10
Net current assets
Income funds
Unrestricted funds		 2023
£
24,475
82,514
106,989
-		 £
106,989
106,989
106,989		 2022
£
79,638
97,966
177,604
(851)		 £
176,753
176,753
176,753

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2023.

The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 24 April 2024

Mr V Gidney Trustee

Company Registration No. 02728600

FOR THE YEAR ENDED 31 JULY 2023

HEAL

NOTES TO THE FINANCIAL STATEMENTS

1 Accounting policies

Charity information

HEAL is a private company limited by guarantee incorporated in England and Wales. The registered office is 1a Church Street, Alwalton, Peterborough, Cambridgeshire, PE7 3UU, United Kingdom.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

FOR THE YEAR ENDED 31 JULY 2023

HEAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

FOR THE YEAR ENDED 31 JULY 2023

HEAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Charitable activities

Preservation
Preservation
of Health of Health
2023 2022
£ £
Sales within charitable activities 108,670 163,546
Analysis by fund
Unrestricted funds 20,963 22,527
Restricted funds 87,707 141,019
108,670 163,546

4 Investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Interest receivable 357 46

HEAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2023

5 Charitable activities

HEAL India Paradise Village running costs
HEAL India Poverty Trap running costs
Share of governance costs (see note 6)
Analysis by fund
Unrestricted funds
Restricted funds
Support costs
Support
costs
Governance
costs
£
£
Insurance
-
159
Bank charges
-
100
Online donation costs
and other fees
-
1,112
Accountancy
-
299
-
1,670
Analysed between
Charitable activities
-
1,670		 Preservation
of Health
Preservation
of Health
2023
2022
£
£
163,921
135,505
13,200
42,445
177,121
177,950
1,670
1,801
178,791
179,751
1,670
2,996
177,121
176,755
178,791
179,751
2023Support costs Governance
costs
2022
£
£
£
£
159
-
239
239
100
-
125
125
1,112
-
725
725
299
-
712
712
1,670
-
1,801
1,801
1,670
-
1,801
1,801		 Preservation
of Health
Preservation
of Health
2023
2022
£
£
163,921
135,505
13,200
42,445
177,121
177,950
1,670
1,801
178,791
179,751
1,670
2,996
177,121
176,755
178,791
179,751
2023Support costs Governance
costs
2022
£
£
£
£
159
-
239
239
100
-
125
125
1,112
-
725
725
299
-
712
712
1,670
-
1,801
1,801
1,670
-
1,801
1,801
177,950
1,801
179,751
2,996
176,755
179,751
2022
£
239
125
725
712
1,801
1,801

6 Support costs

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

HEAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2023

8 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
Total - -
9 Debtors
2023 2022
Amounts falling due within one year: £ £
Other debtors 24,475 19,638
Prepayments and accrued income - 60,000
24,475 79,638
10 Creditors: amounts falling due within one year
2023 2022
£ £
Accruals and deferred income - 851

11 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).