LONDON TAMIL CENTRE Charity No. 1018333 Company No. 02793405 Trustees, Report and Unaudited Accounts 31 August 2024
LONDON TAMIL CENTRE Contents Page5 Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities 2to4 Summary Income and Expenditure Account Balance Sheet Statement of Cash flows Notes to the Accounts IOto17 Detailed Statement of Financial Activities 18to19 PaRe I
LONDON TAMIL CENTRE Trustees Annual Report The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited f inancial statements of the charity for the period ended 31 August 2024. REFERENCE AND ADMINISTRATIVE DETAILS Company No. 02793405 Charity No. 1018333 Registered Offlce 253 East Lane Wembley Middlesex HAO 3NN Directors and Trustees The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: V. ANANTHASAYANAN S. SABESAN S.N. SRIHARAN T. THIRUMARAN S. UTHAYAKUMAR N. SHANTHAKUMAR Company Secretary T. MAHADEVAN Accountants Flexi Financial Accountant 250 Imperial Drive Harrow HA2 7HJ Bankers HSBC PIC 584 High Road Wemblev Middlesex HAO 2DB Page 2
LONDON TAMIL CENTRE Trustees Annual Report OBJEcfivES AND ACTIVITIES The principal activities of the organisation are the provision of education. social welfare and community services. ACHIEVEMENTS AND PERFORMANCE The London Tamil School experienced notable improvements following the pandemic. Student enrolment increased. and participation in Tamil language classes returned to pre-pandemic levels by the f irst quarter of 2023. To enhance student engagement and progress tracking, our Headteacher, introduced a record book in August 2023. Additionally, new textbooks were distributed to toddlers and nursery students in October 2023. In recognition of teachers, contributions, a pay increase by 16.70A was implemented in October 2023, after remaining unchanged for many years. Yoga classes for parents commenced in November 2023, promoting well-being within the community. To support and highlight Fine Arts education, the long-anticipated annual event. Thiyagarajah Utsavam, was inaugurated in January 2024. However, despite these efforts, enrolment numbers for Fine Arts subjects have yet to reach pre-COVID levels The last Annual General Meeting IAGMI was held on 21st January 2024. During this meeting, it was decided that the organisation's financial year-end would be adjusted, from 01 March 2023 to 31 August 2024. The Tamil Elders, Drop-in Centre continued to provide services via Zoom, including keep-fit and yoga sessions. Renovation work was carried out at the Centre throughout 2023 and 2024 to improve facilities mainly outside the back garden area, erecting new boundary fence wall, new storeroom along that fence and created usable patioloverflow area. Additionally, there was a notable increase in demand for Centre premises hire. The first floor, attic, garage, and unit above the garage have been successfully rented out, generating a steady stream income for LTC. FINANCIAL REVIEW By the end of the financial year IAugust 20241, the school itself struggled to keep up with the expenses against the school fees income. KaSaisaaral fund raising helped the school, especially the Prize Day Trophies CQSt. Further the revenue from centre hire and rentals has ensured financial stability and a positive cash f low for the organisation. PLANS FOR FUTURE PERIODS The organisation aims to foster greater interaction with users and well-wishers. encouraging active participation in its day-to-day operations. A key focus for the future is to attract new talent with bold ideas and innovative approaches to preserving and promoting Tamil culture and language. This includes leveraging advancements in technology, and artificial intelligence (All to enhance engagement and learning experiences. The London Tamil Centre remains committed to its mission of serving the community through education, cultural enrichment, and social welfare initiatives. Page 3
LONDON TAMIL CENTRE Trustees Annual Report STRucfuRE, GOVERNANCE AND MANAGEMENT London Tamil Centre is a Private company limited by guarantee, not having a Share Capital and is a registered Charity. The governing documents are its Memorandum and Articles of Association. The directors of the company are the members of the board of trustees. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £100 per member of the charity. The directors of the company are also the Charity trustees for the purposes of charity law and under the compan¢s Articles are known as members of the Management Committee. Trustees are encouraged to participate in the sub committees and in the running of the Charity. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable step5 for the prevention and detection of fraud and other irregularities. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities 50RP IFRS 1021. Signed on behalf of the board S. 5ABESAN Chairperson 19 March 2025
LONDON TAMIL CENTRE Independent Examiners Report Independent Examiner's Report to the trustees of LONDON TAMIL CENTRE I report to the charity trustees on my examination of the financial statements of LONDON TAMIL CENTRE for the period ended 31 August 2024. Responsibilities and basis of report As the charity's trustees of the company land also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requiremeThts 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 your charity's f inancial statements as carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515} Ibl of the 2011 Act. Independent examiner'5 statement I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in accordance with section 386 of the 2006 Act . or the financial statements do not accord with those records,. or the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair, view which is not matter considered as part of an independent examination. or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). 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. Mr A Ajitkumar AFA Flexi Financial Accountant 250 Imperial Drive Harrow HA2 7HJ 19 March 2025 Page 5
LONDON TAMIL CENTRE Statement of Financial Activities for the period ended 31 August 2024 Unrestricted funds Restricted funds Total funds Total funds 2024 2023 2024 2024 Notes Income and endowments from: Donations and legacies Charitable activities Investments 13,837 108,705 347 13,837 108,705 347 3,425 62,366 Total 122,889 122,889 65,799 Expenditure on: Charitable activities Other 1,718 89,250 1,718 89,250 1,772 55,987 Total 90,968 90,968 57,759 Net gains on investments Net Income 31,921 31,921 8,040 Transfer5 between funds Net income before other gainsl(losses) 31,921 31,921 8,040 Other gains and losses Net movement in funds 31,921 31,921 8,040 Reconciliatlon of funds: Total funds brought forward 13,629 214,036 227,665 219,622 Total funds carried fonward 45,550 214,036 259,586 227,662
LONDON TAMIL CENTRE Summary Income and Expenditure Account for the period ended 31 August 2024 2024 2023 Income 122,542 65,791 Interest and investment income 347 Gross income for the period 122,889 65,799 Expenditure 82,529 51,464 Interest payable 786 645 Depreciation and charges for impairment of fixed assets 7,653 5,650 Total expenditure for the period Net income before tax for the period 90,968 57,759 31,921 8,040 Net income for the period 31,921 8,040 Page 7
LONDON TAMIL CENTRE Balance Sheet at 31 August 2024 Company No. 02793405 Notes 2024 2023 Fixed assets Tangible assets li 227,232 227,232 234,885 234,885 Current assets Stocks 12 1,833 2,093 50,543 54.469 15,9941 48,475 1,316 3,578 18,048 22,942 (9,663) 13,279 Debtors Cash at bank and in hand 13 Creditors: Amount falling due within one year Net current assets 14 Total assets less current liabilities 275,707 248,164 Creditor5: Amounts falling due after more than one year Net asset5 excluding pen51on asset or Ilability 15 116,121) 259,586 {20,499} 227,665 Total net assets 259,586 227.665 The funds of the charity Restricted funds 16 Restricted income funds 214,036 214,036 214,036 214,036 Unrestricted funds General funds 16 45,550 13,629 45,550 13,629 Reserves 16 Total funds 259,586 227,665 These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. For the period ended 31 August 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of account5. Approved by the board on 19 March 2025 And signed on its behalf by: S.N. SRIHARAN Treasurer 19 March 2025 Page 8
LONDON TAMIL CENTRE Statement of Cash flows for the period ended 31 August 2024 2024 2023 Cash flows from operating activities Net income per Statement of Financial Activities 31,921 8,040 Adjustments for: Depreciation of property, plant and equipment Dividends, interest and rents from investments Ilncreasel/Decrease in stocks Decrease/llncreasel in trade and other receivables (Decrease)/lncrease in trade and other payables 7,653 13471 {517} 1,485 13,6691 S,650 18) 407 {1,5281 1,188 Net cash provided by operating activitie5 36,526 13,749 Cash flows from investing activities Dividends, interest and rents from investments 347 Net cash from/(used in) investing activities 347 (5,975) Cash flows from financing activities Repayment of borrowings 14,378) {3,0001 Net cash used in financing activities 14,378} 13,000) Net increase in cash and cash equivalents 32,495 4,774 Cash and cash equivalents at the beglnning of the period 18,048 12,372 Cash and cash equivalent5 at the end of the period 50,543 17,146 Component5 of cash and cash equivalents Cash and bank balances 50,543 18,048 50,543 18,048 P3£e 9
LONDON TAMIL CENTRE Notes to the Accounts for the period ended 31 August 2024 l Accounting policies Basis of preparation 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 IFRS 1021 {effective l January 20151 Icharities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 and the Companies Act 2006. Change in basis of accounting or to previous accounts There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. Fund accounting Unrestricted funds These a re available for use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Designated funds Revaluation funds Restricted funds Income Recognition of income Income is included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Where income has related expenditure the income and related expenditure is reported gross in the SOFA. Income with related expenditure Donations and legacies Voluntary income received by way of grants, donations and gifts is included in the the SOFA when receivable and only when the Charity ha5 unconditional entitlement to the income. Tax reclaims ondonations Income from tax reclaims is included in the SOFA at the same time as the and gifts gift/donation to which it relates. Donated services and These are only included in income (with an equivalent amount in facilities expenditure) where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help Investment income Gains/{lossesl on revaluation of fixed The value of any volunteer help received is not included in the accaunts. This is included in the accou nts when receivable. This includes any gain or loss resulting from revaluing investments to market value atthe end of the year. assets Gains/llosses) on investment assets This includes any gain or loss on the sale of investments. PaRe 10
LONDON TAMIL CENTRE Notes to the Accounts Expenditure Recognition of expenditure Expenditure is recognised on an accruals basi5. Expenditure includes any VAT which cannot be fully recovered, and 15 reported a5 part of the expenditure to which it relates. Expenditure on raising These comprise the costs associated with attracting voluntary income, funds fundraising trading costs and investment management costs. Expenditure on charitable These comprise the costs incurred by the Charity in the delivery of its activities attivities and services in the furtherance of its objects, including the making of grants and governance costs. grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any auditlindependent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs, These are support Costs not allocated to a particular activity. Grants payable Governance costs other expenditure Taxation The charity is exempt f rorn corporation tax on its charitable activities. Freehold investment property Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise. Stocks Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the ch3rity would have been willing to pay for the items on the open market. Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other 5hort-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Paae 11
LONDON TAMIL CENTRE Note5 to the Account5 Trade and other creditors Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discount5 due. Research and development Expenditure on research and development is written off in the year in which it is incurred. Foreign currencies Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.All exchange differences are are taken into account in arriving at net income/expenditure, Leased assets Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer Substantially all the risk5 and reward5 of ownership to charity are classified as operating leases. Assets held under finance leases are initially recognised as assets of the charity at their fair va lue at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability, The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. Pension costs The charity operates a defined contribution plan for its employees. A defined contribution plan is 3 pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment5 obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. Receipt of donated goods, facilities and services All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. Paae 12
LONDON TAMIL CENTRE Notes to the Accounts 2 Company status The company is a private company limited by guarantee and consequently does not have share capital. 3 Statement of Finantial Activities- prior year Unrestricted funds Restricted funds Total funds 2023 2023 2023 Income and endowments from: Donations and legacies Charitable activities Investments 3,425 62,366 3,425 62,366 Total 65,799 65,799 Expenditure on: Charitable activities 1,772 55,987 1,772 55,987 Other Total 57,759 57,759 Net income 8,040 8,040 Net income before other gain51(losses Other gain5 and losses: Net movement in funds 8,040 8,040 8,040 8,040 Reconciliation of funds: Total funds brought forward Total funds carried fonNard 5,586 214,036 219,622 13,626 214,036 227,662 4 Income from donation5 and legacies Unrestritted Total 2024 Total 2023 Donations 3,117 345 3,117 345 3,245 180 Membership fee Kalisaral 8,125 2,250 13,837 8,125 2,250 13,837 Shields 3,425 PaRe 13
LONDON TAMIL CENTRE Note5 to the Accounts 5 Income from charitable activities Unrestricted Total Total 2024 2023 School fees receivable 41,325 1,325 1,733 1,900 808 41,325 1,325 1,733 1,900 808 26,529 2,840 485 Examination fees receivable Sale of books Prize giving Xma5 party Kalaisaral 10,523 481 10,523 481 Sports Dav Tamil Niliya Malai Rent 2,020 48,590 108,705 2,020 48,590 108,705 29,302 59,156 6 Income from investment5 Unrestricted Total Total 2024 2023 Interest receiveable 347 347 347 347 7 Expenditure on charitable activities Unrestricted Total Total 2024 2023 Governance costs 263 263 144 779 779 672 600 600 900 76 76 56 1,718 1,718 1,772 Costs of generating income from donations and legacies Unrestricted Total Total 2024 2023 Costs of generating income from donations and legacies 89,250 89,250 55,987 89,250 89,250 55,987
LONDON TAMIL CENTRE Notes to the Accounts 9 Net income before transfers 2024 2023 Thi5 is stated after charging: Depreciation of owned fixed assets 10 staff costs 7,653 5,650 2024 2023 12,628 12,628 Salaries and wages 20,550 20,550 No employee received emoluments in excess of £60,000. 11 Tangible fixed assets Cost or revaluation At l April 2023 At 31 August 2024 351,009 351,009 351,009 351,009 Depreciation and impairment At l April 2023 Depreciation charge for the year At 31 August 2024 Net book values 116,124 116,124 7,653 7,653 123,777 123,777 At 31 August 2024 At 31 March 2023 12 Stocks 227.232 234,885 227,232 234,885 2024 2023 Finished goods 1,833 1,833 1,316 1,316 Carrying value analysed by activities 2024 2023 Sale of books 1,833 1,833 1,316 1,316 13 Debtors 2024 2023 Trade debtors Prepayments and accrued income I,ioo 993 3,578 3,578 2,093 PaRe 15
LONDON TAMIL CENTRE Notes to the Accounts 14 Creditor5: amounts falling due within one year 2024 2023 Bank loans and overdrafts Other taxes and social security Other creditors Accruals 3,645 55 3,645 96 1,268 1,026 5,994 4,303 1,619 9,663 IS Creditors: amounts falling due after more than one year 2024 2023 Bank loans and overdrafts 16,121 16,121 20,499 20,499 16 Movement in funds Incoming resources At31 August 2024 Resources expended Atl (including April other 2023 gains/losse5} Restricted funds: Restricted income funds: 214,036 214,036 Total 214,036 214,036 Unrestrirted funds: General funds 13,629 122,889 190,968) 45,550 Total funds 17 Analy515 of net assets between funds 227,665 122,889 (90.9681 259,586 Unrestricted fund5 Restrirted funds Total Fixed assets 227,232 227,232 48,475 Net current assets Creditor5 due in more than one year and provisions 48,475 116,1211 (16,121) 32,354 227,232 259,586 PaRe 16
LONDON TAMIL CENTRE Notes to the Accounts 18 Reconciliation of net debt At31 At l Aprll 2023 Cash flows August 2024 Cash and cash equivalents 18,048 18,048 32,495 32,495 50,543 50,543 Bank loans 124,144) {24,144) 4,378 4,378 119,766) {19,7661 Net debt (6,096) 36,873 30,777 19 Related party disclosures Controlling party The company Is limited by guarantee and has no share capital; thus no single party controls the company. PaRe 17
LONDON TAMIL CENTRE Detailed Statement of Financial Activities for the period ended 31 August 2024 Unrestricted funds 2024 Restricted funds Total funds 2024 Total funds 2023 2024 Income and endowments from: Donations and legacies Donation Membership fee Kalisaral Shields 3,117 345 3,117 345 3,245 180 8,125 2,250 13,837 8,125 2,250 13,837 3,425 Charitable activities School fees receivable Examination fees receivable Sale of books 41,325 1,325 1,733 41,325 1,325 1,733 26,529 2,840 485 Miscellaneous income 35 Prize giving Xmas party Kalaisaral 1,900 808 1,900 808 1,485 1,690 10,523 481 10,523 481 Sport5 Day Tamil Niliya Malai Rent 2,020 48,590 108,705 2,020 48,590 108,705 29,302 62,366 Investment5 Interest receiveable 347 347 347 347 Total income and endowments 122,889 122,889 65,799 Expenditure on: Governance costs Business Rates Heating and Lighting Independent Examiners Fee Telephone 263 263 144 779 779 672 600 600 900 76 76 56 1,718 1,718 1,772 Total of expenditure on charitable activities 1,718 1,718 1,772 Costs of generating Income from donations and legacies Exam fee Special functions Purchases 1,055 129 805 1,055 129 4,510 4,107 407 805 Pa4e 18
LONDON TAMIL CENTRE Detailed Statement of Financial Activities Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Employee expense5 School events Kalaisaral expenses Bank loan and overd raft interest payable Salaries/wages Rent 1,059 4,901 5,341 1,059 4,901 5,341 786 786 645 20,550 26,204 2,369 7,011 540 20,550 26,204 2,369 7,011 540 12,628 14,850 1,295 6,044 744 Rates Light, heat and power Premises clea ning Premises repairs and maintenance Depreciation of13nd and buildings Bank charges General insurances Software, IT support and related costs Stationery and printing Subscriptions Telephone, fax and broadband Other legal and professional costs 7,596 7,596 3,396 7,653 5,650 7,653 248 248 144 1,768 1,768 734 462 462 280 77 77 17 13 13 13 683 683 505 18 Total of Costs of generating income from donations and legacies Total expenditure 89,250 89,250 55,987 90,968 90,968 57,759 Net gain5 on investments Net income 31,921 31,921 8,040 Net income before other gains/(1055es) Other Gains 31,921 31,921 8,040 Net movement in funds 31,921 31,921 8,040 Re£onciliation of funds: Total funds brought forward 13,629 214,036 227,665 219,622 Total funds carried forward 45,550 214,036 259,586 227,662 Pa2e 19.