OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Maher Community Association (Leicester) U K

2025-03-31-accounts

Charity registration number 1039128 (England and Wales)

MAHER COMMUNITY ASSOCIATION (LEICESTER) UK ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

MAHER COMMUNITY ASSOCIATION (LEICESTER) UK

LEGAL AND ADMINISTRATIVE INFORMATION

Holding Trustees

Mr Arjan H Keshwala (Deceased 5 January 2026) Mr Arjun Odedra Mr Devshi A Odedra Dr Lakhman P Modhvadiya Mr Nagarjun R Odedra (Deceased 23 February 2026)

Managing Council Office bearers/Trustees

President Mr Sanjay M Karavadra Vice president Mr Parbat Sanga Treasurer Mrs Chetna Ranavaya Vice treasurer Mr Harish Keshwala Secretary Mr Kishor D Karavadra (Appointed 11 March 2026) Vice secretary Mr Nikhil M Keshwala (Appointed 11 March 2026) Managing Council Members/Trustees

Mrs Chetna Ranavaya
Mr Harish Keshwala
Mr Lakhanbhai R Karavadra
Mr Lakhansi K Khunti
Mr Niraj Modhwadia
Mr Rambhai Rajshi Modhwadia
Mr Parbat Sanga
Mr Ram Muru Modhwadia
Mr Kishor D Karavadra
Mr Karan D Odedra
Mr Hitesh K Godhaniya
Mrs Bhanumati R Gorania
Mr Nikhil M Keshwala
Mr Ashok B Karavadra
Mr Akash N Odedra
Mr Atulbhai Modhavadiya
Mr Pratap A Keshvala
Charity number 1039128
Principal address 15 Ravensbridge Drive
Leicester
LE4 0BZ
Independent examiner Mr Rishi Chandarana FCA
BPC Chandarana+Co Limited
Chartered Accountants
Prebend House
72 London Road
Leicester
LE2 0QR
Bankers Barclays Bank PLC
Town Hall Square
Leicester
LE87 2BB
Bank of Baroda
59A Belgrave Road
Leicester
LE4 6AS

MAHER COMMUNITY ASSOCIATION (LEICESTER) UK

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 16

MAHER COMMUNITY ASSOCIATION (LEICESTER) UK

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

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 constitution, the Charities Act 2011 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)” (as amended for accounting periods commencing from 1 January 2016).

Objectives and activities

The charity's objects are to promote any charitable purposes for the benefit of the Maher Community in the United Kingdom or in any part of the world and in particular but without prejudice to the generality of the foregoing:

(i) To relieve poverty

(ii) To advance religion

(iii) To advance education

(iv) To provide facilities for recreation and other leisure-time occupation.

The restricted funds relate to monies raised in 2010 and 2011 specifically for the construction of the premises at Ravensbridge Drive, Leicester.

The policies adopted in furtherance of these objects are:

(i) To provide centres for meetings and for giving advice, information and education;

(ii) To provide religious, social, cultural, intellectual, artistic and/or musical events;

(iii) To establish and develop contacts between members of the Maher community residing in various parts of the United Kingdom;

(iv) To promote and develop the general welfare and prosperity of the members of the community;

(v) To encourage and assist in the creation of harmonious relationships with other communities;

(vi) To associate with the Maher community's local organisation in the United Kingdom;

(vii) To collect and disseminate information on all matters affecting the objects of the Association and exchange such information with other bodies having similar objects;

(ix) To promote and carry out or to assist in the promoting and carrying out of research surveys and investigations;

(x) To procure and to cause to be written and printed, published, issued and circulated gratuitously which further the objects of the Association;

(xi) To issue appeals, accept donations, legacies and gifts, collect subscriptions, borrow or raise money for the objects of the Association;

(xii) To purchase, take on, lease, exchange, hire or otherwise acquire any real or personal property and rights of privileges and to construct and maintain any buildings erections necessary for the promotion of its objects; (xiii) To do all such lawful things necessary to further the above objects.

There has been no change to these objects during the year.

The trustees have paid due regard to guidance issued by the Charity Commission on public benefit in deciding what activities the charity should undertake.

Achievements and performance

Leicester Maher Community Association had an eventful year. The revenue for venue hire has increased this year compared to the previous year.

The Association has continued to hold various social, religious and sports events on a regular basis for the community such as Navaratri, Holi, Beej, and Dandia Rass Classes and introduced new activities such as Raam Dhun, Badminton and other sports tournaments. Most of the events have seen a positive response with increased participation and attendance from the community.

MAHER COMMUNITY ASSOCIATION (LEICESTER) UK

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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 level equivalent to between three and six month’s expenditure. The trustees consider 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 charity's investment policy currently is to hold any reserves at the bank on deposit. In addition, the investment in Maher Samaj (UK) Limited was maintained together with the related party premises construction loan.

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.

Structure, governance and management

The charity was established by a charitable trust deed on 11 November 1990, as amended 8 May 1994 and 29 September 2013.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr Sanjaybhai M Karavadra Mr Parbat Sanga Mr Bharat A Keshwala (Resigned 11 December 2025) Mr Devan K Modhwadia (Resigned 11 December 2024) Mrs Chetna Ranavaya Mr Harish Keshwala Mr Arjan H Keshwala (Deceased 5 January 2026) Mr Arjun Odedra Mr Devshi A Odedra Dr Lakhman P Modhvadiya Mr Nagarjun R Odedra (Deceased 23 February 2026) Mr Lakhanbhai R Karavadra Mr Lakhansi K Khunti Mr Niraj Modhvadiya Mr Rambhai R Modhwadia Mr Kishor D Karavadra Mr Karan D Odedra Mr Hitesh K Godhaniya Mrs Bhanumati R Gorania Mr Nikhil M Keshwala Mr Ashok B Karavadra Mr Akash N Odedra Mr Ram Muru Modhawadia Mr Atulbhai Modhavadiya Mr Pratap A Keshvala

None of the trustees has any beneficial interest in the charity.

MAHER COMMUNITY ASSOCIATION (LEICESTER) UK

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

The company's current policy concerning the payment of trade creditors is to:

The general control and management of the administration of the Association shall be the responsibility of the Managing Council. The Managing Council comprises between 8 and 20 members and shall meet at least three times a year. The Managing Council shall consist of a President, Vice-President, Secretary, Assistant Secretary, Treasurer, Assistant Treasurer and council members who shall serve for 3 years and retire at the third Annual General Meeting following election. A retiring member shall be eligible for re-election provided that no member may serve on the Managing Council for more than 6 successive years in the same post.

New trustees and managing committee members are inducted and trained in the first management committee following the AGM by more experienced existing trustees including the President, Treasurer and Secretary. During this meeting the new trustees are made aware of the history of the Association, what is required of them and the current issues being addressed by the committee. The new trustees or committee members are given an opportunity to select areas they will be able to contribute given their qualifications, education areas of interest and subsequent tasks are allocated accordingly.

Revocation of suspension of managing council

The suspension of the 2019 managing council members of LMCA was revoked by the Trustees in 2023.

The trustees' report was approved by the Board of Trustees.

Mr Sanjaybhai M Karavadra President Dated: 20 March 2026

Mr Kishor D Karavadra Secretary Dated:20 March 2026

MAHER COMMUNITY ASSOCIATION (LEICESTER) UK

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF MAHER COMMUNITY ASSOCIATION (LEICESTER) UK

I report to the trustees on my examination of the financial statements of Maher Community Association (Leicester) UK (the charity) for the year ended 31 March 2025.

This report is made solely to the charity's trustees, as a body, in accordance with Section 154 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and its trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of the charity’s financial statements carried out under section 145 of 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

Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

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.

Mr Rishi Chandarana FCA

BPC Chandarana+Co Limited Chartered Accountants Prebend House 72 London Road Leicester LE2 0QR Dated: 20 March 2026

MAHER COMMUNITY ASSOCIATION (LEICESTER) UK

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
3
42,460
-
Charitable activities
4
461,718
-
Investments
5
-
-
Total income
504,178
-
Expenditure on:
Raising funds
6
1,812
-
Charitable activities
7
421,137
-
Governance costs
8,124
-
Total resources expended
431,073
-
Net income/(expenditure) for the year/
Net movement in funds
73,105
-
Fund balances at 1 April 2024
795,755
376,303
Fund balances at 31 March 2025
868,860
376,303		 Total
2025
£
42,460
461,718
-
504,178
1,812
421,137
8,124
431,073
73,105
1,172,058
1,245,163		 Total
2024
£
9,361
441,082
1,158
451,601
989
540,540
59,525
601,054
(149,453)
1,321,511
1,172,058

The statement of financial activities includes all gains and losses recognised in the year.

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

MAHER COMMUNITY ASSOCIATION (LEICESTER) UK

BALANCE SHEET

AS AT 31 MARCH 2025

Notes
Fixed assets
Tangible assets
13
Investments
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
Provisions for liabilities
17
Net assets
Income funds
Restricted funds
19
Unrestricted funds		 2025
£
£
124,658
443,750
568,408
514,596
467,906
982,502
(82,147)
900,355
1,468,763
(223,600)
1,245,163
376,303
868,860
1,245,163		 2024
£
£
69,566
443,750
513,316
496,023
467,788
963,811
(81,469)
882,342
1,395,658
(223,600)
1,172,058
376,303
795,755
1,172,058

The financial statements were approved by the Trustees on 20 March 2026

Mr Sanjaybhai M Karavadra President

Mr Kishor D Karavadra Secretary

MAHER COMMUNITY ASSOCIATION (LEICESTER) UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

Maher Community Association (Leicester) UK is an unincorporated charity established by a charitable trust deed. The principal address is 15 Ravensbridge Drive, Leicester, LE4 0BZ.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's constitution, the Charities Act 2011 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)” (as amended for accounting periods commencing from 1 January 2016). 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 applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

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. The principal accounting policies adopted are set out below.

The financial statements present information about the charity as an individual entity and not about its group.

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 Incoming resources

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.

Income is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business.

MAHER COMMUNITY ASSOCIATION (LEICESTER) UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.5 Resources expended

Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs represent costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination and costs linked to the strategic management of the charity.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment 25% reducing balance basis. Fixtures and fittings 10% reducing balance basis.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments represents investment in the subsidiary undertaking and are shown at cost less impairment.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8 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.

1.9 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 AND LIABILITIES

Basic financial assets and liabilities, which include debtors and creditors with no stated interest rate and receivables or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

MAHER COMMUNITY ASSOCIATION (LEICESTER) UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.10 Provisions

Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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 donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 41,460 9,361
Grants 1,000 -
42,460 9,361
Donations and gifts
Navratri 24,121 7,110
Other 17,339 2,251
41,460 9,361

MAHER COMMUNITY ASSOCIATION (LEICESTER) UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Activities for generating funds
Hall & utensils hire charges 449,576 420,913
Car park income 12,142 20,169
461,718 441,082

5 Investments

6
7		 Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Interest receivable
-
1,158
Raising funds
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Fundraising and publicity
Advertising
1,812
989
1,812
989
Charitable activities
Hall &
utensils hire
Car park
Total
2025
Total
2024
2025
2025
£
£
£
£
Staff costs
72,267
5,690
77,957
93,837
Depreciation and impairment
28,202
-
28,202
10,120
Donations
4,770
-
4,770
10,051
Social, religious and sports events
83,595
-
83,595
78,172
Share of support costs (see note 8)
192,621
33,992
226,613
348,360
381,455
39,682
421,137
540,540		 Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Interest receivable
-
1,158
Raising funds
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Fundraising and publicity
Advertising
1,812
989
1,812
989
Charitable activities
Hall &
utensils hire
Car park
Total
2025
Total
2024
2025
2025
£
£
£
£
Staff costs
72,267
5,690
77,957
93,837
Depreciation and impairment
28,202
-
28,202
10,120
Donations
4,770
-
4,770
10,051
Social, religious and sports events
83,595
-
83,595
78,172
Share of support costs (see note 8)
192,621
33,992
226,613
348,360
381,455
39,682
421,137
540,540
989
Total
2024
£
93,837
10,120
10,051
78,172
348,360
540,540

MAHER COMMUNITY ASSOCIATION (LEICESTER) UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

8 Support costs

Hall &
utensil hire
Car park
£
£
Rent, rates and water
70,056
22,166
Insurance
3,485
1,162
Light and heat
27,017
3,002
Set-up, car park, cleaning and waste disposal
66,570
7,397
Repairs and renewals
14,441
-
Bank charges
2,387
265
Postage, stationery & telephone
8,665
-
192,621
33,992		 2025
£
92,222
4,647
30,019
73,967
14,441
2,652
8,665
226,613		 2024
£
176,356
5,779
29,267
106,776
18,979
2,743
8,460
348,360

Support costs have been allocated to activity cost categories on a basis consistent with the use of resources.

Rent, rates and water costs in the previous year included a provision of £83,600 relating to an historic shortfall of rent payable to Maher Samaj (UK) Limited which was agreed as payable (See Note 17).

Governance costs includes payments to the independent examiner of £4,320 (2024- £4,320) for professional fees.

9 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements 4,320 4,320
Depreciation of owned tangible fixed assets 28,202 10,120

10 Trustees

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

11 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
4 4

MAHER COMMUNITY ASSOCIATION (LEICESTER) UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

11
Employees
Employment costs
Wages and salaries
Other pension costs		 (Continued)
2025
2024
£
£
76,980
92,770
977
1,067
77,957
93,837		 (Continued)
2025
2024
£
£
76,980
92,770
977
1,067
77,957
93,837
93,837

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

12 Taxation

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

13 Tangible fixed assets

Tangible fixed assets
Plant and
equipment
Fixtures and
fittings
£
£
Cost
At 1 April 2024
22,762
178,142
Additions
75,350
7,944
At 31 March 2025
98,112
186,086
Depreciation and impairment
At 1 April 2024
12,007
119,331
Depreciation charged in the year
21,526
6,676
At 31 March 2025
33,533
126,007
Carrying amount
At 31 March 2025
64,579
60,079
At 31 March 2024
10,755
58,811		 Total
£
200,904
83,294
284,198
131,338
28,202
159,540
124,658
69,566

MAHER COMMUNITY ASSOCIATION (LEICESTER) UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

14 Fixed asset investments

Other
investments
Cost or valuation
At 1 April 2024 & 31 March 2025 443,750
Carrying amount
At 31 March 2025 443,750
At 31 March 2024 443,750
2025 2024
Other investments comprise: Notes £ £
Investments in subsidiaries 24 443,750 443,750

The cost of investment represents 17,750 ordinary shares of £25 each held in the subsidiary undertaking.

15 Debtors

Amounts falling due within one year:
Trade debtors
Amounts owed by subsidiary undertakings
Prepayments and accrued income
16
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2025
£
18,506
495,501
589
514,596
2025
£
4,809
4,705
63,993
8,640
82,147		 2024
£
20,947
474,501
575
496,023
2024
£
-
926
55,223
25,320
81,469

MAHER COMMUNITY ASSOCIATION (LEICESTER) UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

17
Provisions for liabilities
Rent shortfall
Movements on provisions:
At 1 April 2024 and 31 March 2025		 2025
2024
£
£
223,600
223,600
Rent shortfall
£
223,600		 2024
£
223,600

The total amount of historical shortfall of rent payable to Maher Samaj (UK) Ltd has been agreed to £223,600.

18 Retirement benefit schemes
2025 2024
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 977 1,067

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

19 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Movement
in funds
Balance at Incoming Balance at
1 April 2024 resources 31 March 2025
£ £ £
Ravensbridge Drive Property Construction Fund 376,303 - 376,303

Ravensbridge Drive Property Construction Fund

This funding related to the construction of the Ravensbridge Drive, Leicester Premises. The funds were used to acquire ordinary shares in Maher Samaj (UK) Limited an entity which owns the land and subsequently that entity instigated the construction of the premises through this investment and related party loans.

MAHER COMMUNITY ASSOCIATION (LEICESTER) UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

20 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.

General funds
Previous year:
General funds
Analysis of net assets between funds
Fund balances at 31 March 2025 are
represented by:
Tangible assets
Investments
Current assets/(liabilities)
Provisions		 At 1 April
2024
Incoming
resources
Resources
expended
At 31 March
2025
£
£
£
£
795,755
504,178
(431,073)
868,860
At 1 April
2023
Incoming
resources
Resources
expended
At 31 March
2024
£
£
£
£
945,208
451,601
(601,054)
795,755
Unrestricted
Restricted
Total
Total
2025
2025
2025
2024
£
£
£
£
124,658
-
124,658
69,566
443,750
-
443,750
443,750
900,355
-
900,355
882,342
(223,600)
-
(223,600)
(223,600)
1,245,163
-
1,245,163
1,172,058		 At 1 April
2024
Incoming
resources
Resources
expended
At 31 March
2025
£
£
£
£
795,755
504,178
(431,073)
868,860
At 1 April
2023
Incoming
resources
Resources
expended
At 31 March
2024
£
£
£
£
945,208
451,601
(601,054)
795,755
Unrestricted
Restricted
Total
Total
2025
2025
2025
2024
£
£
£
£
124,658
-
124,658
69,566
443,750
-
443,750
443,750
900,355
-
900,355
882,342
(223,600)
-
(223,600)
(223,600)
1,245,163
-
1,245,163
1,172,058
Total
2024
£
69,566
443,750
882,342
(223,600)
1,172,058

21 Analysis of net assets between funds

22 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years
In over five years		 2025
£
84,000
336,000
252,000
672,000		 2024
£
84,000
322,000
350,000
756,000

The operating lease represent the lease for the Ravensbridge Drive premises lease of £84,000 including VAT per annum to Maher Samaj (UK) Limited. The lease has been agreed until 31 March 2033 and rentals are reviewed to market rates every five years.

MAHER COMMUNITY ASSOCIATION (LEICESTER) UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

23 Related party transactions

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

Rent payable
2025 2024
£ £
Maher Samaj (UK) Limited 84,000 167,600
84,000 167,600
The following amounts were outstanding at the reporting end date:
Amounts owed by related Amounts owed by related
parties parties
2025 2024
Balance Net Balance Net
£ £ £ £
Maher Samaj (UK) Limited 271,901 271,901 250,901 250,901
271,901 271,901 250,901 250,901

24 Subsidiaries

These financial statements are separate financial statements.

Separate company financial statements are required to be prepared by law.

Details of the charity's subsidiaries at 31 March 2025 are as follows:

Name of undertaking Registered Nature of business Class of % Held
office shares held Direct Indirect
Maher Samaj (UK) Limited England Investment property company Ordinary 53.80

The aggregate capital and reserves and the draft result for the year of subsidiaries excluded from consolidation was as follows:

Name of undertaking Profit/(Loss) Capital and
Reserves
£ £
Maher Samaj (UK) Limited 6,275 1,108,394

The investments in subsidiaries are all stated at cost.