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2024-07-31-accounts

Charity registration number 1013340

Company registration number 02728600 (England and Wales)

HEAL

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

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
Mr M Stead-Hall (Appointed 10 June 2024)
Dr R Katamaneni (Appointed 10 June 2024)
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 - 11

HEAL

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 JULY 2024

The trustees present their annual report and financial statements for the year ended 31 July 2024.

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 have 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 2024

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 Mr M Stead-Hall (Appointed 10 June 2024) Dr R Katamaneni (Appointed 10 June 2024)

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: 1 December 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 2024.

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: 9 December 2024

HEAL

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Charitable activities
3
13,643
102,714
Investments
4
2,684
-
Total income
16,327
102,714
Expenditure on:
Charitable activities
5
1,635
130,845
Total expenditure
1,635
130,845
Net income/(expenditure)
14,692
(28,131)
Transfers between
funds
(28,131)
28,131
Net movement in
funds
7
(13,439)
-
Reconciliation of funds:
Fund balances at 1 August
2023
106,989
-
Fund balances at 31 July 2024
93,550
-		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
116,357
20,963
87,707
2,684
357
-
119,041
21,320
87,707
132,480
1,670
177,121
132,480
1,670
177,121
(13,439)
19,650
(89,414)
-
(89,414)
89,414
(13,439)
(69,764)
-
106,989
176,753
-
93,550
106,989
-		 Total
2023
£
108,670
357
109,027
178,791
178,791
(69,764)
-
(69,764)
176,753
106,989

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

HEAL

BALANCE SHEET

AS AT 31 JULY 2024

Notes
Current assets
Debtors
11
Cash at bank and in hand
Net current assets
Net assets excluding pension liability
The funds of the charity
Unrestricted funds		 2024
£
-
93,550
93,550		 £
93,550
93,550
93,550
93,550		 2023
£
24,475
82,514
106,989		 £
106,989
106,989
106,989
106,989

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 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 1 December 2024

Mr V Gidney

Trustee

Company registration number 02728600 (England and Wales)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

HEAL

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, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 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 or grantors 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 2024

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 2024

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 Income from charitable activities

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Preservation of Health
Donations 13,643 102,714 116,357 20,963 87,707 108,670

4 Income from investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 2,684 357

HEAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2024

5 Expenditure on charitable activities

Direct costs
HEAL India Paradise Village running costs
HEAL India Poverty Trap running costs
Share of support and governance costs (see note 6)
Governance
Analysis by fund
Unrestricted funds
Restricted funds
Support costs
Support
costs
Governance
costs
£
£
Insurance
-
146
Bank charges
-
25
Online donation costs
and other fees
-
1,144
Accountancy
-
320
-
1,635
Analysed between
Charitable activities
-
1,635		 Preservation
of Heatlh
Preservation
of Heatlh
2024
2023
£
£
130,845
163,921
-
13,200
130,845
177,121
1,635
1,670
132,480
178,791
1,635
1,670
130,845
177,121
132,480
178,791
2024Support costs Governance
costs
2023
£
£
£
£
146
-
159
159
25
-
100
100
1,144
-
1,112
1,112
320
-
299
299
1,635
-
1,670
1,670
1,635
-
1,670
1,670		 Preservation
of Heatlh
Preservation
of Heatlh
2024
2023
£
£
130,845
163,921
-
13,200
130,845
177,121
1,635
1,670
132,480
178,791
1,635
1,670
130,845
177,121
132,480
178,791
2024Support costs Governance
costs
2023
£
£
£
£
146
-
159
159
25
-
100
100
1,144
-
1,112
1,112
320
-
299
299
1,635
-
1,670
1,670
1,635
-
1,670
1,670
177,121
1,670
178,791
1,670
177,121
178,791
2023
£
159
100
1,112
299
1,670
1,670

6 Support costs

HEAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2024

7 Net movement in funds 2024 2023
£ £

The net movement in funds is stated after charging/(crediting):

8 Trustees

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

9 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11 Debtors

Debtors
2024 2023
Amounts falling due within one year: £ £
Other debtors - 24,475

12 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 August Incoming Resources TransfersAt 31 July 2024 TransfersAt 31 July 2024
2023 resources expended
£ £ £ £ £
General funds 106,989 16,327 (1,635) (28,131) 93,550

HEAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2024

12 Unrestricted funds (Continued)
Previous year: At 1 August Incoming Resources TransfersAt 31 July 2023
2022 resources expended
£ £ £ £ £
General funds 176,753 21,320 (1,670) (89,414) 106,989

13 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).