Angltrlndian Contem UNAUDITED ACCOUNTS FOR THE YEAR ENDING 31 DECEMBER 2021 Charlty Re8istr￿On Nurnker 1015136 Anglt>lndian Concern Contents Page number Trustees ￿port Statement of Trustees. Responsibilities Independent Examinerfs Report ststement of Financlal Activities Balance Sheet Notes to the Financial Statements io-ii An81￿1ndIan Concern Charity nurnber 1015136 Trustees Report for the year ended 31 December 2021 Structure governance and mana8ernent The Trustees of the charty at 31 December 2021 were TIM Martindale (Choir) Rachel Thurley Sarah Thurley Roz Brench Kirsten Ma550n Dr Suzanne Hamilton Jude Lechmere IDeputy Chalrl Matthew Gunton Trust Oeedand oblerts An810-Indian Concern IAICI is an unincorporated charitable trust created by Trust Deed dated 8 October 1992. The objects of the trust are the relief of poverty and sickness, the advancement of education and religion, rellef for the elderty, in India. Management The trust is managed on a day to day basis by the Trustees in the UK and In conjunction with charity in India called The Vine Charitable Trust. Any vacancy in the office of Trustee would be filled Sn accordance with the provisions of the Trust Deed. Trainin8 for new trustees Is revlewed as appropriate on each appointment. Prlndpaladdress Rachel Thurlev 4A The Stiles Godmanchester Cambs PE29 2JF ThomasQuinD 15 Station Road St Ive5 Cambridgeshire PE27 5BH Achlevements durlbva the year Anglo-lndian Concern raises funds to support charitable work in Chennai. Tamil Nadu, India. This is done in partnership with the registered Indian charity The Wine Charitable Trusy (vcr) which works mainly among the impoverished Section of the An810-Indian community, which is spread in many different parts of the city- During the last reporting year a total of 185 families We￿ helped by VCT. This included the full or partial payment of school fees for 43 students and support for a further 22 students to attend college and 6 students in vocational training places. VCT also distributed funds to 32 individual youn8 people includin8 sponsored children. vcr were also able to help protect 21 adults thrO￿&h provisK)n of food aid, medical aid and grants to the handlcapped and to widows. In addition penslons were provided to a fvrther 85 seniors. Throughout the Covid 19 pandemic vcr have been able to cofttlnue supporting all the beneflciaries on its books os well as providing some help to The Chennai Corporation Chennai recorded its first case of Covid 19 on 7th March 2020. The Indian Government declared a nationwide complete and total lockdown from 25th March which extended to 30th September 2020 wlth sorne relaxations. From September 2020. the vcr office started functioning by following strlct Covld protocols. They saw beneficiaries only by appointrnent and at other time5 the office was shut. The Social Workerfs mobile number was dlsplayed on the front door so that new people could get in touch and arrange appointments. Vulnerable seniors continued re￿1¥In8 their help through money orders only, while others started collecting from the office. In March 2021 vcr started counselling senlors to tske the vaccine by explainin8 the Importance of the vaccine. To set an example the Mana8in8 Trustee and Coun5ellor took the vacclnation in the flrst week of April as soon a5 the Govemment opened the vacclnation for the age group 45 to 60 years. Their vacclnation certificates were displayed on the office notKe board. From May 2021 complete lockdown was imposed for the 2nd wave and extended for Imo months. From 2021 there were relaxations and VCT started to work as in previous lockdowns. From November 2021 Classes 10th. Ilth & 12th started functioning on alternative days and colleges also started following the same pattern for their students. From February 2022 lockdown was shifted and schools and colleges started functioning following strict Covid protoco15. Between June 2021 and today vcr helped 10 new school students and 5 new college students. VCT is now seeing clients three days a week. Monday, Wednesday and Fridays, as per the pre pandemic schedule for the office vislts. Funds raised by AIC that help young people continue in education have the potential to break the cycle of inter-generational poverty that is so common in the disadvantaged communtties of Chennai. The day-to-day operatlon by VCT of assessing people's needs and arranging appropriate 5UPPOrt is conducted by three staff (office rnanager. social worker and assistant). VCT also distribute5 funds 8iven to AIC by UK donors a5 Sponsorship for individual youn8 people. VCT is overseen by a board of Trustees. (knrsiglrt and compliance wAth d￿rItable purposes The partnership with Wine Charitsble Trust is monitored by frequent telephone and email contact. by the receipt of sponsorship reports and detsils of school and college fees paid. v￿ also supplies copies of their audited accounts. Wisits to Chennai by an AIC Trustee take ptace at approximately yearty intervals. It was not POS5ible for a trip to take place in 2020 and 2021 due to travel restrictions both in the UK and India and the risk to those travelling. It is anticipated that it will be possible to arrange for someone to visit during 2022. The AIC Trustees ore satisfied by this monttoring activity that the funds ralsed in the UK are being used by ovr Indian partner solety for the charitable purposes laid out in the Trust Deed. which comply wlth the requirements of the 2CQ6 Charities Act. Flnancial Re¥lew The financial statements for 2021 are attached. There was a surplus as the amount transferred to India was less than in previous years. Nomialty two transfers are made in April and November. The hlgher transfer Is made in April to cover school fees which are nomially paid annually in advance and then a smaller amount later in the year. In 2021 however due to impact of Covid in India the second transfer of £IO.CW did not take place until February 2022. It was also higher than in previous years due to the increase in university students and families being supported. There were no travel cost5 for Trustee5 as due to COVID it has not been p055ible to arrange this In a safe manner. Costs of the newsletter continue at a lower level as these have increasingly been sent out dlgltally and the remaining copies have not been printed externalty. The Wlnter newsletter was not sent out until early 2022. Reservespolkv The Tru5tees' pollcy is to maintain è level of income and a55ets to continue with the alms of the charity for as lon8 as possible. The Trustees, after dixu$5ion with the Vine Charltable Trust. a8reed to continue supporting the work at the current levels for the next 5-10 years with an expectation that thi5 would ￿duce the reserves over this period. Thi5 was done in the knowledge that thls would reduce the reserves and would not be sustainable over time. The work would be managed to ensure that the education of the current children would be preseNed over their school years. However due to a combination of additional giving by donors, favourable variances in the exchange rate, and before 2021 a reduction in number of students on more expensive further education courses the reserves have not been reduced as rapidly as anticipated. The Trustees continue to operate on the ba515 that the reseNes will be utilised to support the work for as long as is practicable whilst ensuring that current students a￿ able to complete their education. It is anticipated that the level of support will increase in the next years to the level originally anticipated when the policy was set. InVestMent￿N(Y The Trustees took the decision durin8 2017 to convert into cash the investments that had previouslv been held in the CO Managed funds. This decision was tsken in view of the strength of the markets at the current time which was potentially not sustainable in the short temi and the need to have some certainty around the funds in the short term to enable the current levels to be sustained. Part of these funds were placed on deposit. Thi5 deposit motured in early 2021 and was renewed for a further two years. There are also funds held in a 60 day notice account to meet shorter term requlrernents. Funds are spread across 3 organisations to maintain security of the principal. Rlsks The major risks that AIC fa￿ are: the exchange rate risk of the pound to the rupee as this impacts the amount that is contributed to pay for the education and relief and other costs in India. uncertainty about future income as donations are dependent on the generosity of donors The trustees have set a reseryes policy to cover the risks around the decline in Income to ensure that the education of the current children can be continued for the length of their current courses. The funds have been placed in different banks to mitigate against credit risk. Due to the uncertainty about the timing and amount of funds being made to VCT it has not been deemed to be cost effective to hedge the currency risk. Approved y the trustees of the charty on 2nd April 2022 and signed on its behalf by- Tim artln ale Chair An91￿1n￿laTh Con￿rn Charlty number 1015136 Statement of Trustees, Responsibililles The trustee5 are responsible for preparing the trustees, report and the financial statements in accordano with the United Kingdom Accounting Standards (United Kin8dom Generally Accepted Accounting Practice) and applicable law and ￿gUlations. The law applicable to charities requires the trustees to p￿pa￿ financial statements for each financial year which give a true and fair view of the stste of affairs of the charity and of the incoming resources and application of resources of the charity for that perlod. In preparing these financial statements, the trustee5 are required to.. select sultable accounting policies and then apply them consistentty; observe the methods and prlnciples In the Charities SORP: • make judgements and estimates that are reasonable and prudent: state whether appltcable accounting standards have been followed, subject to any material departure5 disclosed and explained in the financial ststements- and • prepare the financial statements on the goin8 cOn￿rn basis unless it 15 inappropriate to presume that the charity wlll continue in business. The trustees are responsible for keeping proper accounting records that dlsc105e wlth reasonable accuracy at any tlme the financial posttion of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provislon5 of the constitution. The trustees are al￿ responsible for safe8uardin8 the assets of the charity and hence for takin8 reasonable steps for the prevention and detectbon of fraud and other Irregularities. Approved by the trustees of the charity on 2- April 2022 and signed on its behalf by: Tim Martindale Chair An81(￿Indian Concern Independent Examine￿$ Report to the trustees of Ang￿IndIaTr Concern I report on the accounts of the charity for the year ended 31 De￿rnber 2021 which a￿ set out on pages 7 to 11. Respertlve respon51billtles ol trustee5 and examlner The trustees are responsible for the pre￿ratIOn of the accounts. The trustees consider that an audit Is not required for this year undef sertion 14412} of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to: ' examine the accounts under section 145 of the 2011 Art: to follow the procedures laid down in the general Directlon5 given by the Charity Commission under section 14515}Ibl of the 2011 Act,. and • to state whether particular matters have come to my attention. Ba515 of Independent examlnerfs report My examination was carried out in accordance wrth the general Dirertions 8lven by the Charlty Commission. An examination includes a review of the accounting records kept by the charity and comparison of the accounts presented with those records. It also include5 consideration of any unusual items or dlsclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evldence that would be required in an audrt and consequently no opinion is given as to whether the accounts present a 'true and fair viev/ and the report is limited to those matters set out in the next statement. Independent examlner's statement In connection with My examination, no matter has come to my attention: 111 vthich gives me reasonable cause to believe that in any materlal respect the reqU1￿Ments. to keep accounting records In accordance with Section 130 of the Charities Act 2011; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met.. or 121 to which. in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached. 15 Station Road St Ives Cambs PE27 5BH Date: 28Juty 2022 gI<￿1ndIan Concern arKI Expendlture kn￿nt For the Year Ended 31 Decen*)er 2021 3)20 In¢ome Grl Aid danati￿$ oitw Rwdular Lbrwti 12.7( 15,422 12.977 11,591 B￿k Inter9St r8e8i￿* Tax RefiJThJs 3.175 29.160 Charitable Activilies Vine Ch&*y TnJst- 81W(*t *rrfk in Valath. Outwh (27,￿) Surp1￿ Inclndian Concem Note5 to the Flnanclal Ststernents for the Year Ended 31 December 2021 l. Accounting policles Statement of compllonce The flnancial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended practi￿ applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20151- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS1021 and the Chartties Act 2011. Ba515 oApreporatkn¥ An81o-Indian Concern meets the definition of a public benefit entity under FRS 102. A55ets and liabilities are initially recognised at historical cost or transaction value unless othenHise stated In the relevant accounting policy notes. Exemptlonfrom preporlnq a c05hflowstotement The charity opted to early adopt Bulletin I published on 2 February 2016 and have therefore not Included a cash flow statement in these financial ststements. Golnq con¢ern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. Income ondendowments Voluntary income including donations, gifts, legacies and 8rants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income. it is probable that the Income will be received and the amount can be measured with sufficient ￿liabIlity. Donatlons andlegade5 Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Investment Income Interest is recognised in accordance with the temis of the fixed rnte agreement for fixed rate accounts. Expendlture All expenditure is recognised once there is a legal or construrtive obllgation to that expenditure. it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to ihat category. Support costs Support costs include printing and distributk)n of the newsletter, bank costs and the maintenance of the website. io Anglo-IndiaD Concern Notes to the Flnanclal Slatements for the Year Ended 31 December 2021 (¢ontinued) l. Accounting policies {contlnued) These include the costs attrlbutable to the charit¢s compliance with constitutional and ststutory requirements, including independent examination and investment advice. It includes costs of travel to India to monitor the work of The Wine Charitable Trust Ivcri in Indla and any Trustee travel costs. Taxqtion The tharlty Is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore It meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charty is potentially exempt from taxation in respect of income or capital gains received wlthin categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Sectlon 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Cash and cash equlvoleftts Cash and cash equivalents comprise cash on hand and call deposit5, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Fundstructure Unre5trlcted income funds are general funds that a￿ avallable for use at the trustees, discretion in furtherance of the objectNes of the charlty. 2. Trustses remunefatlon and expenses No trustees, nor any persons connected with them, have recefved any rernuneration from the charity durlng the year. No trustees re￿iVed reimbursement for expenses during the year as the costs of administerln8 the newsletter have reduced as most of these were sent digitally12020 £228 towards the costs of postage and ancillary costs of the newsletter.) Expenses of £98 in relation to the year were pald after31 December2021. 3. Taxatlon The charlty Is a registered charity and is therefore exempt from taxation. li