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2024-03-31-accounts

TRUSTEES’ REPORT

AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED

31 MARCH 2024

Registered Charity No. 1045607 (England and Wales)

SHREE BHARATIYA MANDAL Indian Association,Tameside CONTENTS

Page
Association Information 1
Trustees’ Report 2,3
Statement of the Trustees’ Responsibilities 4
Independent Examiner’s Report 5
Statement of Financial Activities 6
Balance Sheet 7
Accounting Conventions and Accounting Policies 8,9
Notes to the Financial Statements 10-14

SHREE BHARATIYA MANDAL Indian Association, Tameside CHARITY INFORMATION

Community Established 1964 Legal nature Unincorporated Association Constitution adopted 29 January 1995 Charity Registered 6 April 1995 Charity Number: 1045607 (England & Wales) Trustees: (Executive Committee) President: Balwant Mistry Hon. General Secretary: Sailesh Mistry Treasurer: Jayesh Shukla Other Committee Members Utambhai Mistry Ishwerbhai Mistry Navinbhai Parmar Bhavisha Mistry Naliniben Mistry Shantibhai Bhana Dalubhai Patel Pravinbhai Mistry Jasuben Bharti Pinal Shah Vinit Joshi Bhaveni Mistry Amrit Mistry Dhayu Lad Sharda Mistry Mamta Mistry Kapil Joshi Kanti Mistry Custodian Trustees Kiranbhai K Mistry Dhunsukbhai Bharti Manherbhai Tailor Balwantbhai Mistry Charity Offices Indian Community Centre 103 Union Road Ashton Under Lyne Lancashire OL6 8JN Bankers The Co-operative Bank PO Box 250 Skelmerdale WN8 6WT Independent Examiner Devshi Chothani Chartered Accountant DBF Associates 10 Park Place Manchester M4 4EY

1

SHREE BHARATIYA MANDAL Indian Association, Tameside TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their report and accounts for the year ended 31 March 2024.

This report is prepared in accordance with the Association’s constitution, the Charities Act 2011 and the Charities SORP (FRS 102) – Update Bulletin 2 issued in October 2018..

Trustees and Executive Committee

The Executive Committee and the Custodian Trustees named on page 1 have served throughout the year. The day-to-day management of the Charity is the responsibility of the Executive Committee which is duly elected annually. The Executive Committee met regularly throughout the year. The custodian Trustee, who are also members of the Executive committee, have an active role in the management of the Charity

Investment Powers

The Constitution authorises the Executive Committee to make and hold investments using the general funds of the Charity. However, All surplus funds are currently held in low risk Banks and Building Society deposit accounts.

Constitution, Objects and Policies

The Association is governed by the constitution adopted on 29 January 1995, and its objects continue to be “Promotion of charitable purposes for the benefit of inhabitants, in particular those of the Indian origin, of Tameside Greater Manchester”.

Public Benefit

The requirement under Section 4 of the Charities Act 2011 is met, in the view of the trustees, by the provision of religious services, educational and cultural support services to the general public, together with the provision of subsidised meals for the elderly. The only theoretical “benefit”, derived from the charity, by any of the trustees, is the privilege of being able to participate in all of the Charity activities.

Development, Activities and Achievements

The following is a list of some of the activities that are normally held at the Centre on a regular basis subject to any government restrictions:

Daily temple service- Open 3 times a day for the general public.

Wadil Welcome Luncheon club – providing Day Centre for the Elders, Meals on wheels, lunches, Elderly keep-fit classes, social interaction etc. Yoga classes, youth activities, religious discourse, Well-being sessions, Sports, Exercise classes, Outings and Fund raising.

Various religious and other functions and activities were held throughout the year, which were very well supported by all the members and visitors, again subject to any government restrictions.

2

SHREE BHARATIYA MANDAL Indian Association, Tameside TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024 Financial Review

The Trustees would like to report a deficit of £19,831 in the year in respect of the unrestricted funds. It is important to note that this deficit includes retrospective depreciation charge of £38,388 that was omitted from the last year accounts. This represented an reduction of £51,291 when compared with the result achieved in 2023. Whilst costs increased during the year by £65,740, income increased by £14,535.

Reserves Policy

The free reserves as at 31 March 2024 amounted to £410,450 which represented over thirty two months’ cover of the current level of unrestricted expenditure. The trustee target level of cover is twelve months. This target is reviewed annually. Any excess over the target will be retained for further development of the facilities.

Future Plans

Within the financial restraints already noted above the Trustees’ plan to deliver the same level of service in 2023/24 as was achieved in 2022/23 subject. There are plans to improve the existing facilities at the centre which will be achieved, at least in part, by making further appeals for funds.

Trustees Declaration

In accordance with charity law, as trustees, we certify that:

So far as we are aware, there is no relevant financial information of which the Association’s independent examiner is unaware. We have taken all the steps we ought to have taken in order to make ourselves aware of any such information and to establish that the Association’s independent examiner is aware of that information.

Independent Examiner

Devshi Chothani, Chartered Accountant, was appointed as the Association’s independent examiner some years ago. He has expressed his willingness to continue in that capacity.

Approval of the Report

The report was approved by the trustees on the 04 August 2024 and is signed on their behalf by Balwant Mistry (President) and Jayesh Shukla (Treasurer)

Balwant Mistry

Jayesh Shukla

3

SHREE BHARATIYA MANDAL Indian Association, Tameside TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

Statement of Trustees' Responsibilities

The Trustees are required under the Charities Act 2011 to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year.

In preparing financial statements giving a true and fair view the Trustees should follow best practice and:

The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with applicable law and regulations. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for prevention and detection of fraud and irregularities.

Approval

This report was approved by the Trustees at the Executive Meeting held on 04 August 2024.

President Balwant Mistry

General Secretary Sailesh Mistry

SAILESH MISTRY

Date: 4[TH] August, 2024

4

INDEPENDENT EXAMINER’S REPORT

TO THE TRUSTEES OF SHREE BHARATIYA MANDAL-INDIAN ASSOCIATION TAMESIDE (CHARITY NUMBER 1045607 ENGLAND AND WALES) FOR THE YEAR ENDED 31 MARCH 2024

Independent Examiner’s Report to the Trustees on the Financial Statements

I, Devshi Chothani, report on the Financial Statements of the Association for the year ended 31 March 2024, as set out on pages 7 and 8 together with the notes on pages 9 to 14.

Respective responsibilities of the trustees and the independent examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility as the Independent Examiner:

Basis of independent examiner’s statement

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the Financial Statements presented with those records. It also includes consideration of any unusual items or disclosures in the Financial Statements and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the Financial Statements present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no material matters have come to my attention which gives me cause to believe that, in any material respect,

I 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. ________ Date: 04 August 2024 UV. ba Devshi Chothani, Chartered Accountant Director of DBF Associates Ltd, 10 Park Place, Manchester. M4 4EY

SHREE BHARATIYA MANDAL Indian Association, Tameside STATEMENT OF FINANCIAL ACTIVITIES AS AT 31 MARCH 2024

Incoming Resources from
Charitable Activities
Other Sources
Total
Resources Expended on
Raising Funds
Charitable Activities
Total
Net Incoming Resources/
(Net Resources Expended)		 Notes Unrestricted
funds
£
26,857
111,554
138,411
2,245
155,997
158,242
(19,831)
(19,831)
430,281
410,450		 2023
Restricted
funds
Total
Total
£
£
£
0
26,857
39,248
0
111,554
84,628
0
138,411
123,876
-
2,245
907
0
155,997
91,595
0
158,242
92,502
0
(19,831)
31,374
0
(19,831)
31,374
1,256,931 1,687,212
1,655,838
1,256,931 1,667,381
1,687,212
2024

6

SHREE BHARATIYA MANDAL Indian Association Tameside BALANCE SHEET AS AT 31 MARCH 2024

Fixed Assets
Tangible Fixed Assets
Current Assets
Debtors
Bank Deposits
Cash at bank
Cash in Hand
Total Assets
Less: Loan
Less: Stripe
Accrued Expenses
Net Assets
Represented By
Unrestricted Funds
Restricted Funds		 Notes
£
£
£
£
7
964,901
1,041,677
8
5,416
11,063
9
268,192
391,021
440,144
254,794
354
714,106
284
657,162
1,679,008
1,698,839
6,000
6,000
5,627
5,627
10
0
0
11,627
11,627
1,667,381
1,687,212
11
410,450
430,281
1,256,931
1,256,931
1,667,381
1,687,212
0
2024
2023
7
8
9
10
11

Approved by the President and the Treasurer on _______2024 and signed on their behalf by:

PRESIDENT: BALWANT MISTRY TREASURER: JAYESH SHUKLA

7

Page 5

SHREE BHARATIYA MANDAL Indian association, Tameside NOTES TO THE FINANCIAL STATEMENTS AS AT 31 MARCH 2024

1. Accounting Conventions

The Financial Statements have been prepared under the historical cost convention, and in accordance with the Charities (Accounts and Reports) Regulations 2008, the Charities Act 2011 and the Charities SORP (FRS 102) – Update Bulletin 2 issued in October 2018..

1.2 GOING CONCERN CONCEPT

The Financial Statements have been compiled on the assumption that the charity will be a going concern for at least twelve months from the date of this report.

The trustees have opted to modify the SOFA slightly by grouping all incoming resources, other than those derived from Charitable Activities, under the generic heading “Other Sources” in order to avoid any potential confusion that could arise from the use of the heading “Donations and Legacies.”

2. Accounting Policies

2.1 INCOME

2.2 EXPENDITURE

8

SHREE BHARATIYA MANDAL Indian association, Tameside NOTES TO THE FINANCIAL STATEMENTS AS AT 31 MARCH 2024

2. Accounting Policies continued

2.3 ASSETS

Expenditure on fixed assets above £1000 is capitalised. Despite all expenditure having been funded entirely from restricted funds, depreciation is charged according to standard accounting practice on the following basis:

Freehold Land/Investment Property Not depreciated
Leasehold Land 50 year life from 2018
Freehold Building 50 year life from 2002
Building Improvements 20 year life from execution
Furniture, Fixtures and Fittings 10 year life from acquisition
Office Equipment 5 year life from acquisition
Computer Equipment 4 year life from acquisition

2.4 FUNDS

9

SHREE BHARATIYA MANDAL Indian Association, Tameside NOTES TO THE FINANCIAL STATEMENTS AS AT 31 MARCH 2024

Unrestricted
Restricted
£
£
3
Specific Support Grants
0
0
Charitable Activities
26,857
0
TOTAL
26,857
0
4
4.1 Voluntary Contributions
Membership
1,909
0
Collections/Gift Aid
75,603
0
77,512
0
4.2 Income from Activities
Hire of Hall
11,277
0
Other Activities
###
11,277
0
4.3 Investment Income
Rent Receivable
7,300
Bank Deposit Interest
Accrual Realised in P&L
10,049
Deposit Interest
5,416
22,765
0
OVERALL TOTAL
138,411
0
5
5.1 On Investment Income
Property Expenses
2245
0
2,245
0
INCOMING RESOURCES FROM OTHER SOURCES
2024
INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
RESOURCES EXPENDED ON RAISING FUNDS		 Total
£
0
26,857
26,857
1,909
75,603
77,512
11,277
11,277
7,300
10,049
5,416
22,765
138,411
2,245
2,245		 2023
Total
£
0
39,248
39,248
1,322
56,567
57,889
16,445
16,445
6,900
0
3,394
10,294
86,859
907
907

10

SHREE BHARATIYA MANDAL Indian Association, Tameside NOTES TO THE FINANCIAL STATEMENTS AS AT 31 MARCH 2024

6
RESOURCES EXPENDED ON CHARITABLE ACTIVITIES
2,024
Unrestricted
£
6.1 Direct Activities
Temple and Religious
6,121
Elderly Peoples Group
14,280
Events and Activities
373
Wages
12,353
33,126
6.2 Support Activities
a) Establishment Expenses
Insurance
7,952
Light & Heat
13,652
Water
1,128
Repairs & Renewals
-Equipment
7,551
-Building
Cleaning & Gardening
9,230
Safety & Security
961
40,473
b) Administration Expenses
Telephone
1,167
Postage, Printing & Stationery
2,083
Accrual Difference Adjustment
2,372
5,622
6.3 Depreciation on Fixed Assets
Furniture and Equipment
32,556
Leasehold Land/Building
44,220		 2,024
Restricted
Total
£
£
-
6,121
-
14,280
-
373
-
12,353
-
33,126
7,952
13,652
1,128
-
7,551
-
9,230
961
964,901
-
40,473
1,167
2,083
2,372
-
3,250
32,556
44,220		 2,023
Total
£
9,932
13,200
9,308
14,508
46,948
4,249
14,418
1,720
18,824
-
1,621
863
41,695
1,092
351
-
1,443
-
-

SHREE BHARATIYA MANDAL Indian Association, Tameside NOTES TO THE FINANCIAL STATEMENTS AS AT 31 MARCH 2024

7 TANGIBLE FIXED ASSETS

7.1 Land and Buildings
Cost: As at 1 April 2023
Additions in year
Cost as at 31 March 2024
Depreciation: as at 1 April 2023
Charge adj for last year 2023
Charge for the year:
Depreciation: as at 31 March 2024
Net Book Value: 31 March 2024
Net Book Value: 31 March 2023
7.2 Furniture & Equipment
Cost: As at 1 April 2023
Additions in year
Cost as at 31 March 2024
Depreciation: as at 1 April 2023
Charge adj for last year 2023
Charge for the year:
Depreciation: as at 31 March 2024		 Investment
Freehold
Leasehold
Freehold
Building
Property
Land
Land
Building
Improvements
Total
£
£
£
£
£
£
70,365
250,000
6,431
1,060,000
15,617
1,402,413
-
-
-
-
-
-
70,365
250,000
6,431
1,060,000
15,617
1,402,413
-
-
645
445,200
7,029
452,874
-
-
129
21,200
781
22,110
-
-
129
21,200
781
22,110
-
-
903
487,600
8,591
497,094
70,365
250,000
5,528
572,400
7,026
905,319
70,365
250,000
5,786
614,800
8,588
949,539
Furniture
Fixtures
Office
Fittings
Equipment
964,901
Computers
Total
£
£
£
£
162,784
1,500
5,482
135,970
-
-
-
33,796
162,784
1,500
5,482
169,766
70,646
1,500
5,482
77,628
16,278
-
-
16,278
16,278
-
-
16,278
103,202
-
1,500
-
5,482
110,184

12

SHREE BHARATIYA MANDAL Indian Association, Tameside NOTES TO THE FINANCIAL STATEMENTS AS AT 31 MARCH 2024

7 TANGIBLE FIXED ASSETS CONTINUED

7.3 Summary
Cost: As at 1 April 2023
Additions in year
Cost as at 31 March 2024
Depreciation: as at 1 April 2023
Charge for the Year
Charge adj for last year 2023
Depreciation: as at 31 March 2024
Net Book Value: 31 March 2024
Net Book Value: 31 March 2023		 Land
Furniture
and
and
Overall
Buildings
Equipment
Total
(7.1)
(7.2)
£
£
£
1,402,413
169,766
1,572,179
0
1,402,413
169,766
1,572,179
452,874
77,628
530,502
22,110
16,278
38,388
22,110
16,278
38,388
497,094
110,184
607,278
905,319
59,582
964,901
949,539
92,138
964901.4 1,041,677

13

SHREE BHARATIYA MANDAL Indian Association, Tameside NOTES TO THE FINANCIAL STATEMENTS AS AT 31 MARCH 2024

8
DEBTORS
Unrestricted
£
Insurance Prepaid
Deposit Interest Accrued
5,416
TOTALS
5,416
9
BANK DEPOSITS
Bank of India
141,798
Bank of Baroda
0
State of Bank of India
126,394
TOTALS
268,192
10
CREDITORS
Insurance accrued
-
11
ALLOCATION OF NET ASSETS TO FUNDS
Restricted
£
Tangible Fixed Assets
964,901
Debtors
5,416
Bank Deposits
268,192
Cash at Bank
0
Cash in Hand
0
Total Assets
1,238,510
Less: Loan
-6,000
Less: Stripe
-5,627		 Restricted
£
0
0
0
0
0
0
-
Unrestricted
£
0
0
0
440,144
354
440,498
0
0
2024		 Total
£
5,416
5,416
141,798
0
126,394
268,192
-
Total
£
964,901
5,416
268,192
440,144
354
1,679,008
-6,000
-5,627		 2023
Total
£
3,317
7,746
11,063
140,308
132,878
117,835
391,021
-
Total
£
1,041,677
11,063
391,021
254,794
284
1,698,839
-6,000
-5,627

14