The Popda Society Financial Statements for the year ended 31 December 2022
Trustees and advisers
Trustees
Mr Yunus Ravat Mr Abdul Aziz Ravat My Ayub Ravat
Registered Office
4 Rosamond Street, Walsall, WS1 4LB
Independent examiners report
TT Accountants
Bankers
HSBC Bank plc. The Bridge, Walsall, West Midlands, WS1 1LN Al Ryan Bank plc. PO Box 12461, Birmingham, B16 6AQ
Solicitors
Burgoyne & Co. Victoria House, 11a Vicarage Place, Walsall, West Midlands WS1 3NA
Report of the Trustees for the year ended 31 December 2022
The Trustees present their report along with the financial statements of the Charity for the year ended 31 December 2022. The financial statements have been prepared on an income and expenditure basis and comply with the Charity's constitution and the the Charities Act 2011.
Structure, governance and management
It is an independent organisation registered on 11th May 1995 with the Charity Commission for England and Wales. It is governed by a constitution first adopted on the 22nd April 1995, then as amended on the 8 April 2000. It was then since further amended on the 12 June 2014.
The trustees serve a period of one year after which they may put themselves for re-appointment at the Annual General Meeting. There is no restriction on the number of trustees.
The trustees meet at regular intervals to agree the charities strategy including consideration of fund raising, project reviews, reserves and risk management policies. Extraordinary general meetings with the charity members are convened where decisions are necessary on significant matters.
The Board reviews the skill requirements of the Trustee Body, and in the event that a trustee retires or additional trustees are required, the board recruits trustees from existing members. The election of trustees is on majority consensus by members.
The induction process for any newly appointed trustee comprises an initial meeting with the existing trustees, followed by further meetings with the charity secretary. The secretary will be responsible for inducting the newly elected trustee, the role and responsibilities of a trustee.
Objectives and activities
The principal objects of the Charity are to relieve poverty and infirmity, advance education, advance religion and contribute toward community and social cohesion.
Achievement and performance
The charity supported a number of worthwhile causes in the period:
-
We donated money for charities in India
-
We supported impoverished communities in India by providing funding for community projects
We contributed £9,200 (2021: £13,348) to the above causes.
Financial review
The charity is reliant on income from its property portfolio and investments. During the period:
-
Rental income from property totalled £36,996 for the year (2021: £35,562).
-
Investment income totalled £2,654 (2021: £1,101)
Total funds increased by £23,619 (2021 £6,395) during the year. The increase has been primarily due to upfront rental income from the lease of the Palfrey Access Centre.
Last year we focussed on finishing the renovation for one of our flats which we achived this year.
Reserves policy
The charity holds cash funds amounting to £334,157. It also holds a investment portfolio. The funds will be necessary to implement our strategy for the long term.
Auditors
The charity does not meet the criteria for the requirement of a statutory audit, hence a independent examiners report will be issued by TT Accountants.
Risk management
The Trustees examine the major risks that the Charity faces each year when preparing and updating the strategic plan. The Trustees have systems and regular meetings to monitor and control these risks to mitigate any impact they may have on the Charity. Annual General Meetings are also held each year to report to members the performance of the Charity and to provide a risk assessment.
Statement of Trustees' responsibilities
The Charities Act 2011 requires the Trustees of the Charity to prepare financial statements for each financial year which gives 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 the financial statements the Trustees should follow best practice and
select suitable accounting policies and apply them consistently; make judgements and estimates that are reasonable and prudent;
follow applicable accounting standards disclosing and explaining any departures in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to assume that the Charity will continue in operation.
The trustees are responsible for keeping accounting records which are such as to disclose, with reasonable accuracy, the financial position of the Charity at any time, and to enable them as Trustees to ensure the financial statements comply with charity law. The Trustees are also responsible for safeguarding the Charity's assets, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees of The Popda Society on 29 September 2023 and signed on its behalf by:
Ayub Ravat (Chair) 29 September 2023
Independent examiner's report to the trustees on the unaudited financial statements of Charity - England, Wales and Northern Ireland.
I report on the financial statements of Charity - England, Wales and Northern Ireland for the year ended 31 December 2022 which comprise the income and expenditure statement. These financial statements have been prepared on a receipts and payment basis.
Respective responsibilities of trustees and independent examiner
As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of of the Charities Act 2011 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under the Act, whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with the General Directions given by the Charities Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, 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 I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(i) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with the Act; and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or
(ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Tony Tse TT Accountants Independent Examiner 29 September 2023
Income and expenditure statement For the year ended 31 December 2022
| Incoming resources Membership fees Rental income Investment income Food parcels Resources expended Charitable donations Rent/Hire Heat and light Other premises costs Insurance Repairs Annual general meeting costs Accountancy Fees Bank charges Net movement in general funds Movement in investment account/bank balances Opening bank balance Net movement in funds Closing bank balance (general funds) |
£ £ 880 36,996 2,654 0 40,530 9,200 13 114 4,717 1,756 595 64 360 92 -16,911 23,619 310,538 23,619 334,157 2022 |
£ £ 920 35,562 1,101 105 37,688 13,348 1,442 153 2,828 1,429 11,465 377 252 0 -31,293 6,395 304,142 6,395 310,537 2021 |
£ £ 920 35,562 1,101 105 37,688 13,348 1,442 153 2,828 1,429 11,465 377 252 0 -31,293 6,395 304,142 6,395 310,537 2021 |
|---|---|---|---|
| 6,395 | |||
| 304,142 6,395 |
|||
| 310,537 |