An91￿1ndIan Concem UNAUDITED ACCOUNTS FOR THE YEAR ENDING 31 DECEMBER 2022 Charty Re￿$tratIon Nurnber 1015136 AnglTrlndlan Concern Contents Pa8e number Trustees report ststement of Trustees, Responsibilities Independent Examlner's Report Statement of Flnancial Activities Balance Sheet Notes to the Flnanclal Statements I￿11 Angltrln(Han Concern Charlty number 1015136 Trustees Report for the year ended 31 December 2022 StrUC￿re governance and mana8ement Tntstees The Trustees of the charity at 31 December 2022 were rim Martindale (Chairl Rachel Thurley Sarah Thurley Roz Brench Kirsten Masson Dr Suzanne Hamihon Jude Lechmere (Deputy Chairl Matthew Gunton Anglo-lndian Concern IAIC) is an unincorporated charitable trust created by Trust Deed dated 8 October 1992. The objerts of the trust are the relief of poverty and sickness, the advancement of educatlon and religion, relief for the elderly, in India. Management The trust Is managed on a day to day basis by the Trustees in the UK and in conjunrtion with a charlty In Indla called The Wine Charitable Trust. Any vacancy in the office of Trustee would be fllled in accordance wtth the provisions of the Trust Deed. Training for new trustees is revlewed as appropriate on each appointment. Rachel Thurley 4A The Stiles Godmanchester Cambs PE29 2JF Thomas Quinn 15 Station Road St Ives Cambridgeshire PE27 5BH Achievements during the year Anglo-lndian Concern raises funds to 5UPPOrt charitsble work in Chennai, Tamil Nadu, India. This 15 done in partnership with the registered Indian charity The Vine Charitable Trusy IVCtI which works mainly among the impoverished section of the Anglo-lndian community, which is spread in many different parts of the city. During the last reporting year a total of 147 familie5 were helped by VCT. Thi5 included the full or partial payment of school fees for 66 students and support for a further 23 students to attend college and 3 students in vocational training places. v￿ also distributed funds to 42 individual young people including sponsored children. v￿ were also able to help protect 26 adult5 throu8h provision of food aid. medical ald and grants to the people living with disabilities and to widows. In addltlon pen5i0ns were prowded to a further 70 Seniors. The year 2022 wa5 nothing less than a Challenging one for vcr as the surge In Covid-19 ca5e5 from the end of April resulted in restrictions on the movement of people from the month of May. With the restrictions and few relaxations in the following months, we y￿re able to 5UPPOrt our clients without any hassle or delay (thanks to the prevlous years. experlence). 90% of our clients were vaccinated and neath 30% of them had their b005ter dose as well. VCT had to restritt the office days to three day5 a week because of the Continuous droina8e block in the old office. As the office building was sold by the landlord v￿ was looking for a new office from September 2022 and found a place and moved in March 2023. In 2022 VCT helped 16 new school students and 8 new college students. By June 2022 vcr was seeing clients three days a week, Monday, Wednesday and Fridays for offlce vlslts. Funds raised by AIC that help young people continue in educatlon have the potential to break the cycle of inter-generational poverty that 15 so common in the disadvantaged communities of Chennal. The day-to-day operation by VCT of assessing people's needs and arranging appropriate sUPPOrt is conducted by three staff (office manager. social worker and assistant). v￿ also distribute5 funds given to AIC by UK donors as sp0ft50rship for individual young people. v￿ is overseen by a board of Trustees. Overs18ht and compllance wlth charitsble purposes The partnership with Vine Charttable Trust is monitored by frequent telephone and email contact. by the receipt of Sponsorship report5 and details of school and college fees paid. VCT a150 supplies copies of their audited accounts. WisÉts to Chennai by an AIC Trustee take place at approximately yearly intervals. It was not possible for a trip to tske place in 2022 due to travel restrictions both in the UK and India and the risk to those travelling. A vistt was made by a former trustee and a report was made to the Trustees of that visf(. Two trustees expect to visit in early 2024. The AIC Trustees are satisfied by this monitoring activity that the fund5 raised in the UK are being used by our Indian partner solely for the charitable purposes laid out in the Trust Deed, which comply with the requirements of the 2￿6 Charities Act. Flnancial Review The financial statements for 2022 are attached. The support to India returned to more normal leve15 after disruption due to Cowd. The increase on the previous year also reflerts intreased schooling costs and other infiationary pressures. Normalty two transfers are made one in April and one in November. Due to Covid restrictions in India in 2021 only one transfer was made and in 2022 two transfers were made, the first being the delayed transfer from 2021. In 2023 it is anticipated that there will be 3 transfers which wlll restore the usual pattern. The highest transfer is normally made around April to cover college fees which are normally paid annually In advance and then a smaller amount later in the year. There were no travel costs for Tnjstees as due to C¢)vld It has not been possible to arrange this in a safe manner. Costs of the newsletter continue at a lower level as these have increasingly been sent out dlgltslly and a much cheaper printing option has been found for the remainln8 coples. ReseThespolky The Trustees, pollcy is to maintsln a level of income and assets to continue with the aims of the charity for as long a5 P05sible. The Trustees. after discussion with the Vlne Charitable Trust, agreed to ¢ontlnue supporting the work at the current levels for the next 5-10 years with an expertation that thls would reduce the reserrfes over this period. This was done in the knowledge that this 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 preserved over their school years. However due to a ¢ombination of additional giwng by donors. favourable variances in the exchange rate, and before 2022 a reduction In number of students on more expensive further educatlon courses the reserves have not been reduced as rapidly a5 anticipated. The Trustee5 continue to operate on the basis that the reserves will be utlllsed to support the work for as long as is practicable whilst ensuring that current students are able to complete their education. It Is anticipated that the level of support will increase in the next years to the level orlEinally anticlpated when the policy was set. IR￿StMentP0lkY The Trustees took the declsion during 2017 to convert irrto cash the Investments that had previously been held in the CO Managed funds. This decision was taken in view of the strength of the markets at the Current time which was potentialty not 5UStainable in the short temi and the need to have some certainty around the fvnds In the short term to enab￿ the current levels to be sustained. Part of these funds were placed on dep051t. This deposit matured in early 2021 and wa5 renewed for a further two years. There are also funds held in a 60-day noti￿ account to meet shorter tem requirements. Funds a￿ spread across 3 organisations to maintain security of the principal. Rlsks The malor rtsks that face are.. the exchange rate risk of the pourbd to the rupee as this impacts the amount that is contrlbuted to pay for the education and relief and other costs in India. ncertalnty aboLrt future income as donations are dependent on the generosity of donors. The trustees have set a reseryes pdicy to coverthe risks around the decline in income to ensure that the education irf the current thildren can be conts.nued for the len8th of thelr current courses. The funds have been placed in different banks to mits"Bate a8ainsi credit risk. Due to the unortaTrnty about the timing and amount of furth made to v￿ it has not been deemed to be cost effectlve to hedge the currency rlsk. by the trustees of the tharlty on st Apdl 2023 and ￿gned on ks behalf by.. Tim rtindale Chalr Anglo-IndEon Concern Charlty number 1015136 Statement oITn￿tteS. Resp(wlbllltl¢s The trustees are respon5ibbe for preparing the trustee5' report and the financial statements in accordan¢e with the United Kingdom kcounting Standards (United Kingdom Generally Accepted Accountin8 Practice) and applitable law and regulations. The law applicable to charitie5 requi￿ the trustees to prepare firbancial statements foi each financial year which give a true and fair wew of the state of affairs of the charity and ol the in¢omin8 resources and application of resources of the charrty for that period. In p￿parIng these financial statements, the trustees are required to-. select 5Ultable accountrryd pollcies and then appty them Con￿$teAt￿- ' observe the methods and principles In the Charities SORP.. • make lud8ements and estimates that are reasonable and prudent," state whether applicable a¢¢ounting standards have been followed, subject to any material departures disclosed and explained In the )Inandal statements.. and • prepare the financlal statements on the go1￿ concern basis unless it Is Inapproprlate to presume that the charlty wlll contlnue sn buslness. The trustees are responslble for keeping proper accountlng re¢ords that disclose with reasonable accuracy at any tlme the financial posltion ol the charity and ènable them to ensure that the flnancial statements comply with the Charltles Act 2011. the applicable Charitles (Accounts and Reports) Re8ulatlons. and the pr(Nlslons of the constltutlon. The trusiee5 are also responsible for safe¢uarding the assets of the charity and hence for takin8 reasonable steps for the prevention and detertion of fraud and other irregularities. Approved by the trustees of the charity on 1st Aw"12023 al￿ 518ned on Its behalf bv.. Tim Martlndale Chair Anglo4ndlan Con¢orn Indep￿dent Examln•fs Roportto the trustoes of All9k￿ndIan Concern I report on the accounts of the charity for the year eThJed 31 December 2022 which are ¥et out on pages 8t0 11. The trustees are resFM)nsible for the preparation of the xcounts. The trustees consider that an aL￿1t is not required for this year under section 14412} of the charit￿ Act 2011 (the 2011 Act} and that an indep￿Ident ex•minalion is needed. It is my re$ponsibility to.. ' examine the accounts under secti￿ 145 of the 2011 Act.. . lo follcml the procedures laid dcAvn in the generd Directions given by the Charity commi￿on under seclTh 14515)Ib) of the 2011 Act.. and . to State whether pariicular matters have come to rny attenllon. 8&81• of Ind•p•ndent •xamlnets r•port My examination was carried OLrt in attordance with the g?neral DiYeth"ons givgn by the Charity Commi88ion. An examination Ir￿lud¢S a review of the awwnting records kept by the cha￿ty and a comparison of the accounts presented wrth those rttords. It 8180 irtludes consideratson of any unusual Item5 or disclosur88 in the accounts and seeking explanations trryn you as Iruslèas concerning any Such matters. The proc8dures undertaken do nol provide all the evidence that would bg required in an audit and consequ8nlly no opinion 18 given as lo whether the accounts present a't￿￿ and fair vi6w' and Ihe report18 limited to those matters sot out In the next st*wnent. Indo￿ndant examlnefs •t•tsmgnt In connedon wlth my examination, no matter has ¢ome to my attention: {1) whlch glve¥ me rea80nabl8 eauw to believe that in any malenal the requlrem8nl8.' . to keep ￿COuntIng record8 In a¢¢ordance with sectiw 130 of the Charities Acl 2011.. and . lo prepare vLC￿nts which ￿)r6 with the aLrounts"rKJ reoxds and compty with the a¢¢ounting requlrements of th8 2011 Act have not l)een met.. or 121 to which, in my opinlon. attenti￿ slKwld be drawn in order to enable o proper understanding of the accounts to be rethd. A/0 15 Station Road Stives Cambs PE27 5BH Dats.'.27 Apnl 2023 Pffjl(Andian Con￿rn Incom& and Expendlture P£¢ount For the Year Ended 31 Decenkner 2022 2021 Incom• Gift Aid donaticffls other Regular tl)na Legacy Bank Interest rxewj 13.270 8.616 12.7 15.422 3,318 3,175 Interest on Tax R8fiJnds 32,089 Charllable Acllvltt•• Vine Charfty TnBt - 8uprK¥t in Valathl oUt￿h 23.S60 Surplus Incom• ov•r Charftablo Acttvltl•• 17.707) 8.529 Other •xpondltur• Bank charge Stamps. 8tatlon6ry. telep1￿rn atc other 104 192 Ac¢ount8nts fees TrwKI irt1￿1•r4J tra￿1 Insurance 526 600 Ishortlall) Exc•*• of Income ov•r •XP•ndt￿I• Ac¢umulat•d wrplus brought fofward Accumulat•d gurplu8 ¢afrf•d fonva (8.2331 174,045 165,812 7.929 166.116 174.045 All of the charity's activities derive from continuin8 operations during the above two perlods and all related to unrestricted general funds. glo4ndian Concern Balance Sheet s at 31 Decen*>er 2022 2022 2021 Curr•nt a•￿t8 Debtors - Tax RefurKIs Debtorn - Interest Prepayments Cash on deposit Cash at Bank 3.318 422 70 135.425 26,937 166.172 3.175 390 135.OCM) 35,977 174,553 Curr•nt Ilabllltt•i Accrued oxpartses S08> 508) Not curr•nt A￿1* 165.812 174.045 Net A••ots 165.812 174.045 G•n•rnl Fund• Realised Genefd Furnl 165.812 174.045 165.812 174.045 The financial statements on pages 8-11 were approved by the Trustees and authorised for issue on 1st April 2023 and signed on their behalf by.. Roz Brench ITrusteel AngI￿1ndian Concern N¢)tes to the Flnanda Ststements for the Year Ended 31 Derember 2022 l. AccountinB polldes Statement oAcompliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlth the Financial Rewrting Standard appllcable In the UK and Republic of Ireland IFRS 1021 (effective l January 2015)- ICharÉties SORP IFRS 102}l. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 and the Charlties Art 2011. Basls ofpreparatlon Anglo-lndian Concern meets the definitlon of a public benefft entity under FRS 102. Assets and Ilabllltles are initially recognlsed at historical c05t or transaction value unless otherwise stated in the relevant accounting policy notes. The charity opted to ear￿ adopt Bulletin I published on 2 February 2016 and have therefore not included a cash flow ststement In these flnancial ststements. The tn￿teeS consider that there are no material uncertaSntles about the charity's abllity to continue as a goin8 concem. Income and eftdowments Voluntary Income including donations. gifts. le8acles and grants that provide core funding or are of a general nature is recognised when the charity has entrtlement to the income. it is probable that the Income wlll be re￿Ned and the amount can be measured wlth sufflclent reliability. Donotlons Éind legodes Donations and legacles are ￿ognIsed on a recelvable basis when receipt is probable and the amount can be reliabfy measured. Investhlentlncome Interest Is recognised in accordance with the terms of the fixed rate agreement for fixed rate accounts. All expenditure is recognised once there ts a legal or constructive obllgation to that expendlture, It Is probable settlement 15 required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate slmilar costs to that category. Support Costs Support costs indude printing and distribution of the newsletter. bank costs and the maintenance of the website. io An81￿}ndian Concern Notes to the Flnandal Statern￿ forthe Year Ended 31 December 2022 (contlnued) l. Accountlng pollde5 Icontlnued) Govemonce costs These include the costs attributable to the charitys compliance with constitutional and statutory requirements. including independent examination and investment advice. It includes costs of travel to India to monltor the work of The Vine Charitable Trust (vcr) In India and any Trustee travel costs. The charity 15 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 charltable company for UK corporation tax purposes. Atcordingly, the tharity is potentially exempt from taxation in respect of income or capital gains received within cate8ories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 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 rn5h equlvrylents Cash and cash equivalents comprise cash on hand and call de￿sits, and other short-term highly liquld investments that are readily convertible to a known amount of cash and are subject to an insigntficant risk of change In value. Fundstrurture Unrestricted in￿rne funds are 8eneral funds that are available for use at the trustees, discretion in furtherance of the objectives of the charlty. l Ttustees remuneratlon and expens No trustees, nor any persons connerted with them, have received any remuneration from the charity durlng the year. No trustee5 received reimbursement for expenses during the year as the ¢osts of administerin8 the newsletter have reduced as most of these were sent digitally. Expenses of £98 In relation to the 2021 year were pald after 31 December 2021 and the Trustee made an equivalent donation to the Charity. 3. Ta￿t10Th The tharity Is a registered charity and is therefore exempt from taxation. li