INDIAN SENIOR CITIZEN'S CENTRE IMANCHESTERI REGISTERED CHARITY NUMBER . 1040167 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INDIAN SENIOR CITIZEN'S CENTRE (MANCHESTER) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Pages Index Trustees Annual Report Independent Examiners Report Slalemenl of Financial Activities Balance Sheet Slalemenl of Cash Flows 8-13 Notes lo the Accounts (For Management Purposes Only) Detailed Income and Expenditure Account 14 INDIAN SENIOR CITIZEN'S CENTRE (MANCHESTER) Report of the trustees for the year ended 31" March 2024 The trustees present their annual report and financial statements of the charity for the year ended 31, March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed, 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 published (FRS 1021 {effeclive l January 20191. Reference and administrative information Charity Name.. Indian Senior Citizen'5 Centre (Manchester) Charity Number.. 1040167 Trustee5 Honorary President (non trustee) Chair Gen. Secretary Treasurer Member Meinber Mr Harridull Seth Mr Niranjan Bhalt Mr Suresh Chandra Patel Mr Hasmukh Patel Dr Mrs Saraswati Sinha Mrs Jasuben Modi (resigned 24lh August 2023} AdmSn Assistant Mrs Bharti Hindocha Principal Office Indian Senior Citizen's Centre 16-18 Whalley Road Manchester M16 8A8 Independent Examiners Community Accountancy Service Limited The Grange Pilgrim Drive Beswick Manchester M11 3TQ Bankers Barclays Bank plc P.0. Box 357 51 Mosley Street Manchester M60 1AU Structurei governance and management The Charity is a registered charity under a conslilulion dated 201h May 1993 and subsequently updated. on 16th November 2009. Appointmont of trustees New trustees are at the Annual General Meeting. Notice is given to all members 21 days before the meeting. INDIAN SENIOR CITIZEN'S CENTRE IMANCHESTERI The trustees should comprise between 7 and 10 members with a minimum of 2 trustees being women.. The elected members nominate the officers. The trustees nominate one Honorary President who will serve for up to 2 years from amongst former Iruslee officers and may co-opt not more than 3 co-opts where specifi skill is required lo develop the centre and who shall be full members of the cenlre. All the elected members will automatically retire after 2 years, but shall be eligible for re- ele¢tion or being co-opted. Trustee induction and training New trustees undergo a period of Induction for one week and gel skills training relevant to them. Objectives and activities "We aim to enhance the quality of life and enable independent livlng of the Indian Elderly by providing services in support of their social, medical and welfare needs. To promote the relief of elderly people, in particular the elderly Indians, in any manner deemed by law to be charitable within the City of Manchester and surrounding areas with which the Centre 15 conlracled. To provide provisions to meet basic and culturally sensitive needs of the elderly living in the above mentioned areas. To raise awareness of the specific needs of the elderly In order to strengthen linkages and support systems with the voluntary and slalulory sector. To better utilise and develop under-used community facilities and buildings in both 51alutory and voluntary sectors for use by elderly in the above mentioned areas. To provide culturally sensitive day resource services, including a lun¢heon club, recreational facilities including customary food, social activities. enlerlainmenl, games, outings, visits and preventative health care and rehabilitation facilities i.e. physiolherapy, occupational therapy, chiropody, exercise classes and Indian dancing classes. To provide a platform for the development of mutual self-help, which in turn ensures a belter quality of life and social care for the independent living of the elderly. To liaise with slalutory and non-slalulory sectors on planning, adoption and implementation of effective policies. To affiliate to the National Federation of Community Associations and lo other organisations with similar charitable obiecls. A review of our achievements and performance.. How our activities delivered public benefit: The majority of our members are old age pensioners with some sort of disabililyl health problems. However we are continuing with current Indoor aclivilie5 like art work, music, singin9, card games, exercise elc. During the year 2-3 days outdoor trips are popular with our members. Financial revlew In the year to 3151 March 2024 the charity had a lolal income of £64,051 12023 £72,615) and total expenditure of £136,8831?023. £110,233) Thi5 resulted in a nel deficit for the year of £72,83212023. deficit £37,618) which was funded from our reserves. At the end of the financial year restricted r•#erves qtood at £84. 588 of which £83,131 related to part of the book value of the building. At 31. March 2024 £100,000 was held on fixed term deposits maturing between 2D23 an¢J 202>.VVe naa io move our lar9e fixed deposits from the Bank of Baroda as 1t is winding down operations in the UK. INDIAN SENIOR CITIZEN'S CENTRE IMANCHESTERI Investment powers and policy 11 is our aim that monies not required for day to day running costs are held in interest bearing fixed term deposits. Reserves policy and going concern The balance held in unrestricted reserve5 at 31 sl March 2024 was £728,910 of which £711,988 are free reserves, after allowing for funds tied up in tangible fixed assets. The trustees aim to maintain free reserves in unreslricled funds al a level which equates to approximately 24 months of unrestricted charitable expenditure. The trustees consider that this level will provide sufficient funds lo respond lo applications for grants and ensure that support and governance costs are covered. The Trustees consider, having regard lo the cash deposits and budget for the next twelve months, that the charity is a going concern. Risk management The trustees have conducted a review of the major risks lo which the charity is exposed and systems have been established lo mitigate those risks. Plans for Future Periods: The Management commillee is very concerned al the deficits that have occurred in the last few years. The Management Committee has discussed the financial situation and is looking for ways to generate income by hiring out the venue elc.. Trustees responsibilities in relation to the financial statements The Gharity trustees are responsible for preparing a Iruslees, annual report and financial slalements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial slatemenls, the Iru5tees are required lo.. Select suitable accounting principles and then apply them consistently., Observe the methods and principles in the applicable Charities SORP., Make judgments and estimates that are reasonable and prudent., Slate whether applicable accounting standards have been followed, subject to any material departures that musl be disc105ed and explained in the financial slalementS'. Prepare the financial slalements on a going concern basi5 unless It Is appropriate lo presume that the charity will continue in business The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy al any lime the financial position of the charity and lo enable them lo ensure that the financial statements comply with the Charities Act 2011 , the applicable Charities IAccoLJnls and Reports) Regulations, and the provision of the Trust deed. They are a150 responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the trustees on 151h July 2024 and signed on their behalf by.. Mr Niranjan Bhalt Chair of Trustees INDF.PF.NDF.NI' F.XAMINI,:RS IIF.poiI'r Tn TTrIF. TIIIJSTF.r.s OF INI)IAN (ib:Nl()11 CI"I'l/.b.N'S CTr:N'I'IITr: (MANCllb..%"rTr:R} ilb.I: IS"I'Tr.RF:I) CIIAIII'I'Y N(). 1040167 I report on tIiL icar Linder %Lctii)11 144(21 c)I'ihL Charilie% ALI 21111 (thL 201 I ALI) and ihal an indci)LiidLiII LxaiiiiiialiL)ii is llcL'dLd. 'I'hL Lharily ]% prLpai'ing> aL¢i'iicd acLoiinis arid l ain qu(Il i l iLd t() Liiidci'lakL thL LX(Iiii inalion by being) cl qual i I ILd Incmbcr ol- Ihc In%tilulc ol. ChartcrLd AcL()Linl, IhL Lhai'il>' and a Lompari%on ()I'thc aLL()Lints prLsLnlLd iviih Iho%L rL¢()rd%. 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