REGISTERED COMPANY NUMBER: 02903924 (England and Wales) REGISTERED CHARITY NUMBER: 1039551
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2023
for
BENGALI WORKERS ASSOCIATION
BENGALI WORKERS ASSOCIATION
Contents of the Financial Statements
for the Year Ended 31 March 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 8 |
| Independent Examiner's Report | 9 | ||
| Statement of Financial Activities | 10 | ||
| Balance Sheet | 11 | to | 12 |
| Notes to the Financial Statements | 13 | to | 18 |
| Detailed Statement of Financial Activities | 19 | to | 20 |
BENGALI WORKERS ASSOCIATION
Report of the Trustees
for the Year Ended 31 March 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES Objectives and Core Strengths
We have three key strengths inclusive of:
1. The delivery of an interrelated holistic, tailor-made service, taking into account the specific issues and barriers each client faces in obtaining a stable socio-economic position within their community.
To that end, we offer every client:
a. An open, confidential service that begins with an informal assessment of all their needs and worries: this approach is particularly important for those clients accessing our services for the first time to ensure we understand and can see the complete - as opposed to a partial - picture of each client's needs.
b. Access to bilingual staff to better identify deeper issues such as literacy, numeracy and skills issues. Most of our staff and volunteers are bilingual and hold excellent credentials / track records in their field of work. The fact that most of our staff and volunteers stem from the same socio-economic background as our clients, enables us to hold a deeper understanding of difficulties and barriers they face, and tailor and deliver programmes which take into account each client groups' needs.
c. Tailored sessions with expert Advisors according to their needs. Our General Advice team works in conjunction with our Employment & Training, Older People's and Youth Teams to flag up any specific issues which need to be addressed by clients coming to us for support.
2. A reputation and a network that precedes us.
With work spanning over four decades, we have had the privilege of having worked with members of local families across generations. Local people - and especially those that refrain from approaching mainstream organisations - trust our work, services and staff, which means that simply through word of mouth alone, we are able to access the hardest-to-reach, most isolated and often 'invisible' sections of our local community. We have links with many local organisations, ranging from primary schools to GP surgeries to local council teams to other key advice and service-led agencies, corporate as well as local businesses, both mainstream and small. From engagement stage to service delivery, it is our ability to be as accessible and as visibly present as we can that forges one of the core foundations of our clients' trust being placed in us.
3. Creating living examples of our works .
One of the reasons we continue to experience a high demand for our programmes is because those who would not normally approach organisations themselves for help, are motivated to do so by directly seeing for themselves the positive impact our work has had on a friend, relative or neighbour who has used our services. Our client-based satisfaction surveys consistently highlight a high number of self-referrals resultant of recommendations made by friends, neighbours or family members who have felt the benefits of our advice service, young people's service, older people's service and training & employment support programmes.
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BENGALI WORKERS ASSOCIATION
Report of the Trustees
for the Year Ended 31 March 2023
OBJECTIVES AND ACTIVITIES
Public benefit
We have always, and will continue to, take out responsibilities of ensuring that our charitable activities contribute significantly to the lives of those we work with and specifically within the local areas in which those activities are undertaken.
We have referred to the guidance provided by the Charity Commission on public benefit, and all our charitable activities are directed towards having a lifelong impact in our area of benefit and service users alike and these activities are undertaken to further our charitable purposes for the public benefit. In particular the Board of Trustees consider how our services will contribute to these aims and objectives in planning our future services.
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BENGALI WORKERS ASSOCIATION
Report of the Trustees
for the Year Ended 31 March 2023
ACHIEVEMENT AND PERFORMANCE Overview
The year 2022 to 2023 was challenging post pandemic which impacted upon the lives of elderly and vulnerable people. The COVID 19 has led to a dramatic loss of human life and presents an unprecedented challenge to public health, food and world of work. The economics and social disruption caused by the pandemic is devastating; people are at risk of falling into extreme poverty. During the pandemic, the BWA was distributing hot meals to the vulnerable and elderly people every week until the lockdown was eased up. We were also providing food parcels to children and families who were in need. Despite the pandemic we were able to secure funding to provide door to door service for the vulnerable people. The service included visiting vulnerable people every day, befriending with them, helping them with benefits, housing, contacting their GP, carrying out shopping, guiding, and advising to stay safe from COVID. The vulnerable people benefited from the services enormously. In doing these we were assisted by the board members, volunteers, staff and councillors from Camden council. We were also working in partnership with Fitzrovia Neighboured Centre, Hopscotch Centre, Camden council and we were providing hot meals to 400 to 500 people every week until the lockdown was lifted. Our staff and board members were actively involved in several key partnerships, funding bids including Big lottery funding, Edward Harvist, City Bridge and so forth. The aim of these services is to make them feel connected and supported during the pandemic. In addition to these, the BWA was providing food parcels to the families with children suffering financial hardship impacting upon the wellbeing of children. We have applied for funding to set up a family support services to assist vulnerable families. The aim of the project will be to reduce the hardship, maximise their income and reduce the involvement of social services. We are in the process of submitting more funding applications to provide services for children, young people, education and training for unemployed people, welfare rights services, and homework club for school age children.
During 2022, We applied for Surma Centre to be used as vaccination Hub, which was approved, but it did not happen as there were and are a handful of people causing trouble continuously to take control of Surma Centre by force in order to gain their own political interest. They were writing to funders and spreading malicious rumours against Surma Centre by making up frivolous stories and consequently, this group illegally occupied the centre by entering the centre forcibly which resulted in court action being taken to remove this group from the centre. This incurred Surma Centre large amount of cost. Their actions and behaviour have brought the organization into disrepute and the funders has withheld some funding which is impacting upon the service users.
Advice Services
The level of demand for welfare advice has always been high and is likely to continue. The impact of welfare reform has begun to impact local communities in all areas of life - including housing benefits and tax credits. It is therefore no surprise that a significant majority of enquiries concern welfare advice and income maximisation. The main arms of our advice works are comprised of the following areas:
" Welfare Benefits;
" Housing; " Debt & Money Matters;
" Financial Inclusion;
- " Health and welfare; " Immigration.
We are in the process of securing funding for these services
Skills & Employment Services
We aim to meet the priorities and needs of each of our clients approaching us both directly and indirectly for advice and/or employment, skills or training needs through our integrated advice and training teams.
The outcomes of our work in this area consistently highlight the need for all clients - especially those with low confidence and skills levels - to undergo and receive a holistic approach to enable them to:
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BENGALI WORKERS ASSOCIATION
Report of the Trustees
for the Year Ended 31 March 2023
a. move from a status of benefit dependency (the benefit-trap mindset) to being engaged in skills development.
b. move into - and stay - in newly acquired employment, voluntary or enhanced economic engagement roles.
To that end, each client approaching our services who have a clearly defined need or desire to move into competitive jobs market undergoes. These services vital as this helps people get back to employment and we are making effort to secure funding to provide this service.
.
Health & Well-Being Programme
Access to a safe, affordable space to come and just "be", make friends, maybe even learn something new, is crucial to enhancing the daily lives of individuals, and crucial for enabling greater understanding between communities. Ongoing funding cuts to such services across the borough makes it even more crucial that we continue to deliver such activities wherever possible.
Our health and wellbeing programmes have one key aim: to break down the walls of isolation and cultural segregation that all too easily forms around already secluded groups of our local communities. And through the two arms of food and healthy lifestyles, we hope to continue fulfilling this aim.
i. Luncheon Club for the Elderly
"I've made friends here and 2 get to enjoy 2 hot meal every week! It's the thing I look forward to most in my week."
Over this past year, we have continued to deliver twice weekly Luncheon Clubs for the benefit of our elder communities across Camden. This is currently run as an independent business model, subsidised through sales to wider consumers. This is crucial in sustaining the service to enable local, elderly, socially excluded individuals to meet for lunch and discussions, activities or games.
For many of those in attendance, these luncheon clubs constitute their only weekly social interaction activity. There is increasing demand for such projects as evidenced by the continuing increases in the number of older women and men approaching us to take part in such projects.
ii. Older People's Service
Our Older People's Project supported 84 people, some of whom are 'elderly old', with menus of healthy living and wellbeing activities, including exercises, IT classes, crafts, inter-generational contact with our youth service and, very importantly, social contact combating isolation.
Our Older People's Project provides social and health activities in conjunction with an outreach service, working with an average of over 40 people each week. The service provides crucial support to Bangladeshi men and women experiencing mental ill health and social isolation through a range of weekly group sessions.
These services have made significant difference to the lives of people in the community, notably older people and their carers - promoting independence and wellbeing, and providing personal care and respite to carers. Further, we have been evolving our Older People's Project to meet changing local and national agendas, through the 'personalisation' agenda, meaning access to our service is now across different ethnic groups and not just Bangladeshi's.
Young People's Services
Our Young People's Services successfully communicates the complex, non-linear, journey many young people go on as they move from being unengaged to becoming fully equipped for adulthood. As they progress, young people go through 4 phases where; young people Get involved (social engagement), Grow and learn (social learning), Give back (social action) and Gain independence (social leadership).
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BENGALI WORKERS ASSOCIATION
Report of the Trustees
for the Year Ended 31 March 2023
During the course of the year, the young people we worked with became more self-aware, receptive, confident, resilient, motivated, responsible, and better at communicating. This is crucial, as building these emotional and social capabilities enables young people to form positive relationship with peers; learn from and build trust with supportive role models and caring adults; challenge themselves and step outside of their comfort zone; broaden horizons and raise aspirations, and achieve things they might not have previously thought possible.
Our Youth Service works with young people aged 6-19 in activities and opportunities developing learning, life skills and raising aspirations, acting as a local youth hub. Over 200 young people took part in our youth service activities during the year with thrice weekly group sessions ranging from dance, boxing and other sports, IT and arts projects to one to one support including careers advice and homework club.
We also provide after school club service for our school age children. The after-school club will provide an opportunity for children to develop social skills and to engage in constructive activities
LOCAL PARTNERSHIP AND PROJECT WORK
We work in consultation and partnership with the local community and statutory and voluntary agencies in developing our programmes and responding to emerging need and new initiatives.
We are widely involved in collaborative and partnership work and developed further opportunities by being actively involved in new initiatives both locally and Camden wide. Partnership working benefits our users as it identifies need and gaps in provision, prevents duplication of services and enables accurate referral and information to and from partnership organisations. It enables access to funding streams and increases our effectiveness and resilience through joint provision of services and the exchange of good practice, policies and information.
We act as a strategic organisation working with partners across the sector as well as statutory providers to enable members of the community to engage with service providers and to enable those providers to adapt services to better meet the needs of the community. We provide ideas and input into discussions and consultations on policy matters. Staff and trustees attend a range of internal and external meetings to help set the direction of the organisation and to share best practice and ideas. Our status as Camden Council's Strategic Partner in the South West Zone places us in a key role in making community connections with other VCS organisations in the area.
With our roots in community activism, we have evolved into a well-known and locally respected 'community anchor'. We are immensely proud that the Surma Community Centre is a venue that provides for a wide range of social, cultural and community events, and now increasingly, support a more diverse range of service users, reflecting the changing demographics of the local community within which we are rooted.
FINANCIAL REVIEW
Since we were elected as board of directors, we inherited deficit of £42k. We are now in a stronger position financially compared to the past. There was no lease of the building when we took over from the previous management. Since we took over, we secured a 15year lease from the council.
The charity aims to develop a diverse funding base for its activities. While Camden council remains our source of funding , we continue to attract funding for various projects from a wide range of other sources - charitable trusts, private companies, donations and the community centre's own income generating activities.
Throughout the year, the Directors reviewed quarterly management accounts and control was also exercised by senior staff and the Treasurer in line with the Charity's Financial Management Policy.
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BENGALI WORKERS ASSOCIATION
for the Year Ended 31 March 2023
Report of the Trustees
PLANNING FOR THE FUTURE
Subject to satisfactory funding arrangements we intend to continue facilitating activities outlined as above over the forthcoming year.
Our future development aims include:
i. Strengthening the Surma Community Centre as a community hub by maintaining and/or increasing the capacity of existing services.
ii. Adding other provisions and developing further projects to meet the identified needs of the local community thus further enhancing community cohesion.
iii. Increasing the level of volunteer engagement in service delivery arms.
iv. Adopting a more holistic approach to clients to identify and tackle underlying needs.
v. Further developing an all-round holistic employability support service.
vi. Agreeing a model for the re-development of the Surma Centre as an exemplar community hub model which espouses joint working through co-location of services.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The Charity is registered as a charitable company limited by guarantee and is governed by its Memorandum and Articles of Association. The Charity has no share capital or debentures, hence there are no Directors' Interests requiring disclosure. In the event of the Charity being wound up each member is required to contribute an amount not exceeding £1.
Organisational structure
Bengali Workers' Association is managed by a voluntary Board of Trustees and operates from the Surma Community Centre. Established in 1976, it is a successful, vibrant community facility and resource providing a safe and welcoming hub for the wider community.
The Surma Community Centre exists to improve the quality of life for local people by offering excellent services which provide a range of educational, employment, healthy lifestyle, recreational, cultural and social opportunities. In addition, it provides information, advice and guidance to users on a wide range of matters and signposts them to the appropriate point for specialist advice. It is a place people from diverse backgrounds come to socialise, learn and develop.
The Board are responsible for setting general policy, finalising and approving the annual plan and budget, monitoring the charity and taking major decisions about the strategic direction of the charity and any capital expenditure.
Management
The Board employ a chief officer who manages the day to day administration of the charity, ensures the Trustees are fully informed of key changes in legislation and good practice and ensures adherence to all legal and financial requirements. The chief officer leads on strategy & sustainability, business & partnership development and co-ordinates fundraising initiatives. The remaining staff are employed to manage and develop particular service areas or have specific administration or premises-related responsibilities.
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BENGALI WORKERS ASSOCIATION
Report of the Trustees
for the Year Ended 31 March 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Appointment, Induction & Training of Trustees
The Board of Trustees are selected at the AGM, or co-opted during the year, in accordance with the Memorandum and Articles of Association. Invitations for nominations of trustees are sent out prior to the AGM, requesting a personal statement summarising skills and reasons for being nominated as a Trustee. When considering the selection or co-option of trustees, the Board has regard for the diversity of skills needed, and that legal requirements under Charity and Company Law are met.
New trustee's induction includes detailed information on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the charity. Each trustee is invited for a tour of the buildings to be introduced to the staff and functions of the charity as part of their induction. The functions of the board and its decision-making processes are also explained, as are their individual roles, responsibilities and legal obligations under both charity and company law. Each Trustee has clear responsibilities, are expected to attend all Trustee meetings and are often given a particular role.
Trustees are encouraged to attend appropriate external and internal training events where these will facilitate the undertaking of their role. Familiarisation on legal obligations takes place throughout the year as and when needed, and staff produce written reports and occasional presentations. There is usually a Forward Strategy and Business Review workshop during the year, to enable Trustees to review the strategic direction of the charity, and re-affirm key priorities. Trustees are invited and encouraged to attend Camden consultation events and to represent the charity at key off-site functions, locally and borough-wide.
Risk management
We continue to assess, review, monitor and plan for all risks which the organisation may face, now or in the future. Our Risk Management Strategy comprises a risk register of all aspects of the organisation and its activities, and for each project we undertake, outlining possible risks which may occur, procedures to mitigate the risks identified, and regular reassessments both of the risks already outlined on the register and of projects and activities for potential new risks. All new projects and activities developed and run by the organisation undergo a risk assessment before they begin. This process has heightened awareness to the potential risks faced and will assist with the development of robust contingency plans. These procedures are periodically reviewed by the Board to ensure that they continue to address the needs of the Charity.
Internal financial control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Significant external risks to funding have also led to the development of a strategic plan which allows for the diversification of the Charity's funding and activities.
The charity makes little use of financial instruments other than an operational bank account so its exposure to price risk, credit risk, liquidity risk and cash flow risk is not material for the assessment of the assets, liabilities, financial position and profit or loss of the charity.
We are grateful to our funders including Big lottery, City Bridge, Edward Harvest and Camden Council for providing funds to help our local residents. We are also thankful to our staff, volunteers, partner organisations, friends for their assistance during the pandemic , helping us distributing hot meals to the vulnerable people, children and families.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
02903924 (England and Wales)
Registered Charity number
1039551
Registered office
SURMA COMMUNITY CENTRE 1 ROBERT STREET LONDON NW1 3JU
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BENGALI WORKERS ASSOCIATION
Report of the Trustees
for the Year Ended 31 March 2023
Trustees
Salik Miah Chair Nuruzzaman Hira Treasurer (resigned 30.10.23) Jamal Ahmed Abdul Muhith Abdul Salim (resigned 30.10.23) Hena Begum (resigned 30.10.23) Jalal Ahmed Muhammad Khurshed Alam Ziaul Haque Chowdhury (resigned 30.10.23) Mirza Mofozzul Hussain Mustafizur Tarafder Salaur Rahman (appointed 30.10.23) Nazul Islam (appointed 30.10.23) Rukban Rouf (appointed 30.10.23) Joynal Uddin (appointed 30.10.23) Emdad Rahman (appointed 30.10.23) Mohammed Milan (appointed 30.10.23) Munzerin Rashid (appointed 30.10.23)
Independent Examiner
ACN Accountants Chartered Certified Accountants ACN Accountants 41 Orsett Road Grays Essex RM17 5DS
Website www.bwa-surma.org
Bankers
CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Mailing Kent ME19 4JQ
Approved by order of the board of trustees on 29 December 2023 and signed on its behalf by:
Salik Miah - Trustee
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Independent Examiner's Report to the Trustees of
BENGALI WORKERS ASSOCIATION
Independent examiner's report to the trustees of BENGALI WORKERS ASSOCIATION ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts 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 (FRS 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 accounts to be reached.
Anwar Faruque Chowdhury FCCA
ACN Accountants Chartered Certified Accountants ACN Accountants 41 Orsett Road Grays Essex RM17 5DS
30 December 2023
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BENGALI WORKERS ASSOCIATION
Statement of Financial Activities for the Year Ended 31 March 2023
Unrestricted RestrictedfundsfundsNotes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 27,071 143,112 Investment income 2 - - Total 27,071 143,112 EXPENDITURE ON Charitable activities Luncheon Club 2,477 - Older People's Project - 18,103 Training & Employment project 1,001 - Trips and Community Activities 825 - LBC SPF Neighbourhoods - 63,000 Venue Hire 20,471 - Ageing Better Camden - - City of London Fund - - Camden Giving - 13,771 Big Lottery Covid 19 Respond Fund - - LBC Business Rate Award - - Shared Endeavour Fund - - Sports England - 10,000 City Bridge Trust - 18,830 Flood Victims - 19,408 Other 11,542 - Total 36,316 143,112 NET INCOME/(EXPENDITURE) (9,245) - RECONCILIATION OF FUNDS Total funds brought forward 40,989 - TOTAL FUNDS CARRIED FORWARD 31,744 - |
31.3.23Totalfunds£ 170,183 - 170,183 2,477 18,103 1,001 825 63,000 20,471 - - 13,771 - - - 10,000 18,830 19,408 11,542 179,428 (9,245) 40,989 31,744 |
31.3.22Totalfunds£ 89,785 17 89,802 500 - - - 47,367 - 14,376 22,416 37,351 31,688 13,286 24,962 - - - 40,977 232,923 (143,121) 184,110 40,989 |
|---|---|---|
The notes form part of these financial statements
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BENGALI WORKERS ASSOCIATION
Balance Sheet
31 March 2023
Unrestricted RestrictedfundsfundsNotes £ £ FIXED ASSETS Tangible assets 7 2 - CURRENT ASSETS Cash at bank 35,242 - CREDITORS Amounts falling due within one year 8 (3,500) - NET CURRENT ASSETS 31,742 - TOTAL ASSETS LESS CURRENT LIABILITIES 31,744 - NET ASSETS 31,744 - FUNDS 9 Unrestricted funds: General fund Venue Hire Membership Subscription LBC Business Rate Award TOTAL FUNDS |
31.3.23Totalfunds£ 2 35,242 (3,500) 31,742 31,744 31,744 31,744 - - - 31,744 31,744 |
31.3.22Totalfunds£ 2 45,787 (4,800) 40,987 40,989 40,989 19,827 5,822 3,030 12,310 40,989 40,989 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
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BENGALI WORKERS ASSOCIATION
Balance Sheet - continued
31 March 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 29 December 2023 and were signed on its behalf by:
Salik Miah - Trustee
The notes form part of these financial statements
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BENGALI WORKERS ASSOCIATION
Notes to the Financial Statements
for the Year Ended 31 March 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost Fixtures and fittings - 25% on cost Computer equipment - 25% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
continued...
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BENGALI WORKERS ASSOCIATION
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| Deposit account interest | - | 17 |
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31.3.23 | 31.3.22 | |
|---|---|---|
| £ | £ | |
| Auditors' remuneration | - | 3,748 |
| Other operating leases | 14,424 | 17,449 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 31.3.23 Admin 1 Operation 2 3 No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restrictedfundsfunds£ £ INCOME AND ENDOWMENTS FROM Donations and legacies 35,646 54,139 Investment income 17 - Total 35,663 54,139 EXPENDITURE ON Charitable activities Luncheon Club 500 - LBC SPF Neighbourhoods - 47,367 Ageing Better Camden - 14,376 City of London Fund - 22,416 Camden Giving - 37,351 Big Lottery Covid 19 Respond Fund - 31,688 LBC Business Rate Award 13,286 - |
31.3.22 1 2 3 Totalfunds£ 89,785 17 |
|---|---|
| 89,802 | |
| 500 47,367 14,376 22,416 37,351 31,688 13,286 |
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
continued...
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BENGALI WORKERS ASSOCIATION
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted |
Unrestricted Restricted |
Unrestricted Restricted |
Total |
|||
|---|---|---|---|---|---|---|
funds |
funds |
funds |
||||
| £ | £ | £ | ||||
| Shared Endeavour Fund | - | 24,962 | 24,962 | |||
| Other | 40,977 | - | 40,977 | |||
| Total | 54,763 | 178,160 | 232,923 | |||
| NET INCOME/(EXPENDITURE) | (19,100) | (124,021) | (143,121) | |||
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought forward | 60,089 | 124,021 | 184,110 | |||
| TOTAL FUNDS CARRIED FORWARD | 40,989 | - | 40,989 | |||
| 7. | TANGIBLE FIXED ASSETS | |||||
Fixtures |
||||||
Plant and |
and |
Computer |
||||
machinery |
fittings |
equipment |
Totals |
|||
| £ | £ | £ | £ | |||
| COST | ||||||
| At 1 April 2022 and 31 March 2023 | 22,679 | 440 | 22,649 | 45,768 | ||
| DEPRECIATION | ||||||
| At 1 April 2022 and 31 March 2023 | 22,678 | 440 | 22,648 | 45,766 | ||
| NET BOOK VALUE | ||||||
| At 31 March 2023 | 1 | - | 1 | 2 | ||
| At 31 March 2022 | 1 | - | 1 | 2 | ||
| 8. | CREDITORS: AMOUNTS FALLING DUE | WITHIN ONE YEAR | ||||
| 31.3.23 | 31.3.22 | |||||
| £ | £ | |||||
| Accrued expenses | 3,500 | 4,800 | ||||
| 9. | MOVEMENT IN FUNDS | |||||
Net |
Transfers |
|||||
movement |
between |
At |
||||
At 1.4.22 |
in funds |
funds |
31.3.23 |
|||
| £ | £ | £ | £ | |||
| Unrestricted funds | ||||||
| General fund | 19,827 | (9,245) | 21,162 | 31,744 | ||
| Venue Hire | 5,822 | - | (5,822) | - | ||
| Membership Subscription | 3,030 | - | (3,030) | - | ||
| LBC Business Rate Award | 12,310 | - | (12,310) | - | ||
| 40,989 | (9,245) | - | 31,744 | |||
| TOTAL FUNDS | 40,989 | (9,245) | - | 31,744 |
continued...
Page 15
BENGALI WORKERS ASSOCIATION
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Venue Hire Trips and Community Events Lunchon Club Restricted funds Older People's Project LBC SPF Neighbourhoods Camden Giving Sports England City Bridge Trust Flood Victims TOTAL FUNDS |
IncomingResourcesMovementresourcesexpendedin funds£ £ £ 1,374 (10,619) (9,245) 22,395 (22,395) - 825 (825) - 2,477 (2,477) - 27,071 (36,316) (9,245) 18,103 (18,103) - 63,000 (63,000) - 13,771 (13,771) - 10,000 (10,000) - 18,830 (18,830) - 19,408 (19,408) - 143,112 (143,112) - 170,183 (179,428) (9,245) |
|---|---|
Comparatives for movement in funds
At 1.4.21£ Unrestricted funds General fund 38,927 Venue Hire 5,822 Membership Subscription 3,030 LBC Business Rate Award 12,310 60,089 Restricted funds LBC SPF Neighbourhoods 26,367 City of London Fund 22,416 Shared Endeavour Fund 19,970 Camden Giving 23,580 Big Lottery Covid 19 Respond Fund 31,688 124,021 TOTAL FUNDS 184,110 |
Netmovementin funds£ (19,100) - - - (19,100) (26,367) (22,416) (19,970) (23,580) (31,688) (124,021) (143,121) |
At31.3.22£ 19,827 5,822 3,030 12,310 40,989 - - - - - - 40,989 |
|---|---|---|
continued...
Page 16
BENGALI WORKERS ASSOCIATION
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Venue Hire Lunchon Club LBC Business Rate Award Restricted funds LBC SPF Neighbourhoods Ageing Better Camden Project City of London Fund Shared Endeavour Fund Camden Giving Big Lottery Covid 19 Respond Fund TOTAL FUNDS |
IncomingResourcesMovementresourcesexpendedin funds£ £ £ 77 (19,177) (19,100) 21,800 (21,800) - 500 (500) - 13,286 (13,286) - 35,663 (54,763) (19,100) 21,000 (47,367) (26,367) 14,376 (14,376) - - (22,416) (22,416) 4,992 (24,962) (19,970) 13,771 (37,351) (23,580) - (31,688) (31,688) 54,139 (178,160) (124,021) 89,802 (232,923) (143,121) |
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
Net |
Transfers |
|||
|---|---|---|---|---|
movement |
between |
At |
||
At 1.4.21 |
in funds |
funds |
31.3.23 |
|
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 38,927 | (28,345) | 21,162 | 31,744 |
| Venue Hire | 5,822 | - | (5,822) | - |
| Membership Subscription | 3,030 | - | (3,030) | - |
| LBC Business Rate Award | 12,310 | - | (12,310) | - |
| 60,089 | (28,345) | - | 31,744 | |
| Restricted funds | ||||
| LBC SPF Neighbourhoods | 26,367 | (26,367) | - | - |
| City of London Fund | 22,416 | (22,416) | - | - |
| Shared Endeavour Fund | 19,970 | (19,970) | - | - |
| Camden Giving | 23,580 | (23,580) | - | - |
| Big Lottery Covid 19 Respond Fund | 31,688 | (31,688) | - | - |
| 124,021 | (124,021) | - | - | |
| TOTAL FUNDS | 184,110 | (152,366) | - | 31,744 |
continued...
Page 17
BENGALI WORKERS ASSOCIATION
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Venue Hire Trips and Community Events Lunchon Club LBC Business Rate Award Restricted funds Older People's Project LBC SPF Neighbourhoods Ageing Better Camden Project City of London Fund Shared Endeavour Fund Camden Giving Big Lottery Covid 19 Respond Fund Sports England City Bridge Trust Flood Victims TOTAL FUNDS |
IncomingResourcesMovementresourcesexpendedin funds£ £ £ 1,451 (29,796) (28,345) 44,195 (44,195) - 825 (825) - 2,977 (2,977) - 13,286 (13,286) - 62,734 (91,079) (28,345) 18,103 (18,103) - 84,000 (110,367) (26,367) 14,376 (14,376) - - (22,416) (22,416) 4,992 (24,962) (19,970) 27,542 (51,122) (23,580) - (31,688) (31,688) 10,000 (10,000) - 18,830 (18,830) - 19,408 (19,408) - 197,251 (321,272) (124,021) 259,985 (412,351) (152,366) |
|---|---|
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
Page 18
BENGALI WORKERS ASSOCIATION
Detailed Statement of Financial Activities
for the Year Ended 31 March 2023
| INCOME AND ENDOWMENTS Donations and legacies Grants and donations received Subscriptions Investment income Deposit account interest Total incoming resources EXPENDITURE Charitable activities Luncheon Club Older People's Project Cultural and Community Events Trips and Community Activities Volunteer expenses Food distribution expenses Shared Endeavour Fund Flood Victims Staff and board meeting expenses Support costs Management Rent Rates and water Light and heat Finance Bank charges Other Licence & insurance Telephone Postage and stationery Sundries Repairs and maintenance IT Support Cleaning & refuse collection Refreshments Health & safety Publicity and promotion Carried forward |
31.3.23£170,183 - 170,183 - 170,183 13,994 7,422 5,039 825 - - - 19,589 1,185 48,054 14,424 6,011 10,195 30,630 88 1,198 812 1,449 403 2,341 6,353 1,971 - 948 - 15,475 |
31.3.22£89,725 60 |
|---|---|---|
| 89,785 17 |
||
| 89,802 5,017 6,681 2,652 - 150 4,430 20,970 - - |
||
| 39,900 17,449 4,180 6,954 |
||
| 28,583 259 2,012 2,286 2,606 13 10,263 4,703 3,060 131 1,695 2,264 29,033 |
This page does not form part of the statutory financial statements
Page 19
BENGALI WORKERS ASSOCIATION
Detailed Statement of Financial Activities
for the Year Ended 31 March 2023
| Other Brought forward Subscriptions Meeting expenses Bookkeeping & payroll expenses Administrative costs Wages and subcontractor fees Auditors' remuneration Accountancy and legal fees Legal and professional fees Total resources expended Net expenditure |
31.3.23£15,475 175 989 408 17,047 54,031 - 9,260 20,318 83,609 179,428 (9,245) |
31.3.22£29,033 21 4,453 528 34,035 58,822 3,748 - 67,576 130,146 232,923 (143,121) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 20