Anglo-lndian Concem UNAUDITED ACCOUNTS FOR THE YEAR ENDING 31 DECEMBER 2024 Charity Registration Number 1015136
Anglo-lndian Concern Contents Page number Trustees report Statement of Trustees, Responsibilities Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 10-11
AnElo-Indian Concern Charity number 1015136 Trustees Report for the year ended 31 December 2024 Structure governance and management Trustees The Trustees of the charity at 31 December 2024 were Jude Lechmere (Chair) Rachel Thurley Sarah Thurley Roz Brench Kirsten Masson Dr Suzanne Hamilton Matthew Gunton Trust Deed and objerts Anglo-lndian Concern (AIC) 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, 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 conjunction wtth a charity in India called The Vine Charitable Trust (vcr). Any vacancy in the office of Trustee would be filled in accordance with the provisions of the Trust Deed. Training for new trustees is reviewed as appropriate on each appointment. Principal address GBC Centre East Chadley Lane Godmanchester Cambridgeshire PE29 2BJ Accountants Thomas Quinn 15 Station Road St Ives Cambridgeshire PE27 5BH
Achievements during the year Anglo-lndian Concern works in partnership with the registered Indian charity Yhe Vine Charitable Trusy {VCT) which works mainly among the impoverished section of the Anglo-lndian community. The focus of this work is in Chennai, Tamil Nadu. 3 areas are focused on The support of seniors by a small pension to help support the need. Payment of school fees for all levels of education Other monies for those with disability or medical treatment needs We currently sponsor 35 seniors often Irving in very poor conditions many with shared bathrooms, and in one main room to live and sleep. and a small kitchen area in which to cook and prepare food. We also support over 60 students in schools and 25 students in college. Again they often live in small apartments, with several generations in one shared space for all of life's activities and bathrooms are often shared with neighbours. We may sponsor children for food support asso, as money is limited. The v office is open on Mondays, Wednesdays and Fridays for seniors, students or parents to collect pensions, school fees or other financial assistance and on Tuesdays and Thursdays visits are made to check on the welfare of people being supported. In early 2024 the trustee visit was a very positive experience seeing the support through VCT for school and college Students. Many students are achieving far higher qualifications than many of their parents did, with college courses in Business and Commerce a popular choice in a country which supports many financial service industries. The VCT staff work incredibly hard to make accurate and fair assessments of those seeking help. The staff consist of three staff, office manager, social worker and assistant. VCT also distributes funds given to AIC by UK donors as sponsorship for individual young people. vcr is overseen by a board of Trustees. The Anglo-lndian community has been disadvantaged for a long time, and this support goes some way to enabling those who are motivated to achieve more than they would otherwise. Oversight and compliance with charitable purposes The visit in January 2024 fulfilled the required monitoring needed for all areas of the VCT with regards to governance, financial, safeguarding, educational and student support. At that time full reports were made and in January 2025 2 trustees have again visited to check how the whole process is workin8 and reports will be presented to the next UK Trustee meeting in late March. All was in keeping with the purposes in the Trust Deed and subject to the 2006 Charities Act. Ongoing working and partnership with Vine Charitable Trust continues With frequent telephone and email contact and, following the visit in 2024 regular meetings via Zoom orTeams enable face to face discussion of the needs of students, seniors and stsff . We are also in receipt of the VCT audited accounts and inspected the accounting process used when in Chennai also and found it to be thorough and rigorous.
Financial Review The financial statements for 2024 are attached. The support to India was higher than in previous years as the second transfer for the work for 2023 was not made until January 2024 as VCT were able to use interest earned on funds to partly fund some of the costs. Therefore three transfers were made in 2024. Also following the death of a donor to VCT towards the work supporting seniors the level of support wa5 partly increased to address these additional needs. The travel costs represent the costs in India made in January 2024 and contribution towards part of the air fares for a trip in January 2025. Costs of the newsletter were slightly higher in 2024 due to increased costs. Reserves policy The Trustees, policy is to maintain a level of income and assets to continue with the aims of the charity for as long as possible. The Trustees, after discussion with the Vine Charitable Trust, agreed to continue supporting the work at the current levels for the next 5-10 years with an expectation that this would reduce the reserves 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 combination of additional giving by donors, favourable variances in the exchange rate, and before 2022 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 basis that the reserves will be utilised to support the work for as long as is practicable whilst ensuring that current students are able to complete their education. As anticipated the level of support has started to increase to the level originally anticipated when the policy wa5 set partly from a need to increase the support for seniors. Investmentpolicy The Trustees took the decision during 2017 to convert into 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 potentially not sustainable in the short term and the need to have some certainty around the funds in the short temi to enable the current 5evels of support to be sustained. Part of these funds were placed on deposit. As the need to access funds has increased these are now held in 2 notice accounts one for 60 days and one for 120 days. Funds are spread across 2 organisations to rnaintain security of the principal separate from the main bank account. Some of the funds on deposit will be utilised in 2025 to enable the transfers to India.
Risks The major risks that AIC face 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 generostty of donors. The trustees have set a reserves polioi to coverthe 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. Appro ed by the trustees of the charty on 29 March 2025 and signed on its behalf by". Jude Chair
Anglo-lndian Concern Charity number 1015136 Statement of Trustees, Responsibilities The trustees are responsible for preparing the trustees, report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: • select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. and prepare the financial statements on the going concern basis unles5 it is inappropriate to presume that the charity will continue in busines5. The trustee5 are responsible for keepin8 proper accounting records that 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 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the trustees of the charity on 29 March 2025 and signed on its behalf by: e Lechmere Chair
Anglo-lndian Concern Independent Examlner's Report to the trustees of AnEIo-Indian Concern I report on the accounts of the charity for the year ended 31 December 2024 which are set out on pages 8 to 11. Respective responsibilities of trustees and examiner The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 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 Act. to follow the procedures laid down in the general Directions given by the Charity Commission under section 145{5llb) of the 2011 Act; and to state whether particular matters have come to my attention. Basis of independent examinerfs report My examination was carried 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 accounts presented with those records. It also includes consideration of any unusual item5 or disclosures in the accounts, and seeking explanations 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 the accounts present a 'true and fair Vie and the report is limited to those matters set out in the next statement. Independent examiner's ststement In connection with my examination. no matter has come to my attention: 11) which gives me reasonable cause to believe that in any material respect the requirements: 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. 4orflu g 15 Station Road St Ives Cambs PE27 5BH Date:
glo-lndian Concern Inco and Expenditure kcount For the Year Ended 31 December 2024 2024 2023 Income Gift Aid donations Other Regular Donations Bank Interest recei%ed Tax Refunds 13,590 13.025 3.652 3,397 16,349 13,525 2,609 4,113 33,E64 36,596 Charitable Activities Vine Charity Trust - support Nrk in India Valathi Outreach 57.000 780 24,000 1.560 (57,780) (25,560) Surplus Income over Charitable Activitles (24.116) 11,036 other expenditure Support costs Bank charges Stamps. stationery, telephone etc Other 123 82 105 246 Govemance costs Accountants fees TraNel including tre1 InSunce 360 1,475 360 1,945 (2.204) (2,492) (Shortrall) Excess of income over expenditure Accumulated rpluS brought fonward Accumulated surplus carried forward (26.320) 174,356 148.036 165.812 174,356 All of the charity's activities derive from continuing operations during the above two periods and all related to unrestricted general funds.
Anglo-lndian Concern Balance Sheet s at 31 December 2024 2024 2023 Current assets Debtors - Tax Refvnds Debtors - Interest Prepayments Cash on deposit Cash at Bank 3.397 4.087 2,255 57 20 137,895 7,030 148,396 135.000 33,317 174,716 Current liabllities Accrued expenses (360) (360) (360) (360) Net current A*8ts 148,036 174,356 Net Assets 148.036 174,356 General Funds Realised General Fund 148.036 174,356 148,036 174.3 The financial statements on pages 8-11 were approved by the Trustees and authorised for issue on 29 March 2025 and signed on their behalf by: Roz Brench (Trustee)
Anglo-lndian Concern Notes to the Financial Statsments for the Year Ended 31 December 2024 l. Accounting polÉcies Statement of compliance 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 with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective l January 2015) - (Charities SORP (FRS 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) and the Charities Act 2011. Basis oApreparation Anglo-lndian Concern meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Exemptionfrom preparing a cash flow statement The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement. Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. Income and endowments Voluntary income including donations, gifts, legacies and grants 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 ceiVed and the amount can be measured with sufficient reliability. Donations and legaties 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 rate agreement for fixed rate accounts. Expenditure All expenditure is recognised once there is a legal or constructive obligation 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 that category. Support costs Support costs include printing and distribution of the newsletter, bank costs and the maintenance of the website. io
Anglo-lndian Concern Notes to the Flnancial Statsments for the Year Ended 31 December 2024 {continued) l. Accounting policles (continued) Governance costs These include the costs attributable to the charitvs compliance with constitutional and statutory requirements, including independent examination and investment advice. It includes costs of travel to India to monitor the work of The Vine Charitable Trust {vcr) in India and any Trustee travel cost5. Taxation The charity 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 charity is potentially exempt from taxation in respert of income or capital gains received within categories 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 ond cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-temi highly liquid investments that are readity convertible to a known amount of cash and are subject to an insignificant risk of change in value. Fundstrurture Unrestricted income funds are general funds that are available for use at the trustees, discretion in furtherance of the objectives of the charity. 2. Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. Trustees received reimbursement for expenses during the year in latiOn to the administration costs of the newsletter and the cost of travel to India of £1,659 (2023 £1,945). This included the accommodation cost5 incurred in India in 2024 and the cost of flights for the monitoring trip in January 2025. 3. Taxation The charity is a registered charity and is therefore exempt from taxation. li