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2024-03-31-accounts

PRAVASI MANDAL (ASIAN GROUP)

Charity Number 1056591

Trustees' Report and Financial Statements For the year ended 31 March 2024

PRAVASI MANDAL (ASIAN GROUP)

Contents
Page
Report Of The Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes forming part of the financial statements 7 to 10

PAGE 1

PRAVASI MANDAL (ASIAN GROUP)

Trustee's Report For the year ended 31 March 2024

The trustees present their report along with the 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 the notes to the accounts and comply with the charity's governing document and Accounting and Reporting by Charities: Statement of Recommended Practice for Charities preparing their accounts in accordance with Financial Reporting Standard 102 applicable in the UK and the Republic of Ireland published on 16 July 2014

Reference and Administrative Details of the Charity, its Trustees and Advisors

Charity Number

1056591

Charity Offices

65 Elsden Road Wellingborough Northants NN8 1QD Chairman

Trustees & Committee Members

Sureshchandra M Patel Vinod Patel Jitendra Majithia Dilesh Vaghela Naynesh Mistry Narendrabhai Patel Tejas Patel

Chairman Vice chairman Secretary Treasurer

Holding Trustee Holding Trustee Holding Trustee

Bankers

Barclays Bank plc 8 Market Street Kettering Northants

Accountants

DMO Accountants First Floor Offices 25 Sanders Road Finedon Road Industrial Estate Wellingborough Northamptonshire NN8 4NL

PAGE 2

PRAVASI MANDAL (ASIAN GROUP)

Trustee's Report (continued) For the year ended 31 March 2024

Structure, Governance and Management

The trustees named on page 1 have served throughout the year. Appointment of trustees is governed by the governing document of the charity.

Membership of the Mandal group is open to anyone over 40 and any organisation so long as they have paid their subscription. Each member has one vote.

At the Annual General Meeting of the charity the members elect a chairman, a vice chairman and a treasurer who hold office from the conclusion of that meeting. The Executive Committee consists of between 6 and 18 members including the officers already mentioned. A quorum is one third of the Executive Committee or 3 whichever is greater present at the meeting. Every matter is decided by a majority of votes: in event of a tie the chairman of the meeting has the casting vote. Meetings are held at least twice a year.

Existing trustees brief new trustees on the work of the charity and Charity Law generally so that they are aware of their responsibilities as trustees.

The day to day running of the charity is entrusted to paid employees who are selected for their posts by the trustees.

Public Benefit: Objectives and Activities

Pravasi Mandal is established by its constitution, and its objects are:

The trustees are of the opinion that the Charity's objects and activities fulfil a defined public benefit as defined by the applicable sections of the Charities Act currently in force.

Public Benefit: Achievements and Performance

The trustees consider that the performance of the charity this year has been most satisfactory. The activities include luncheon club, meals on wheels, ladies group, men's group, keep fit classes, yoga, swimming, health awareness, local and foreign holidays, etc.

Financial review

The Statement of Financial Activities shows a net outgoing resources for the year of £45,247 (2023 £42,676). The unrestricted reserves at the end of the year stand at £212,846 (2023; £199,080)

2024 2023
£ £
The main grants received were:-
Other grants 18,660 20,525
The main items of fund-raising income were:-
Lunch takings 53,022 44,795
Trips income 3,928 1,030
Rental income 23,634 34,355

Investment policy

The charity continue to invests its surplus fund with Barclays Bank to receive interest. The charity's trustees are prudent and risk averse.

Reserves policy

It is the policy of the charity to maintain unrestricted funds at a level which equate to approximately six months' unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs. Unrestricted funds are maintained at least this level throughout the year.

~~[|~~ PAGE 3

PRAVASI MANDAL (ASIAN GROUP)

Trustee's Report (continued) For the year ended 31 March 2024

Statement of trustees' responsibilities

Law applicable to charities in England and Wales require the trustees 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 those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approval

This report was approved by the trustees on 31 July 2024 and signed on their behalf.

Jitendra Majithia Secretary

Sureshchandra M Patel Chairman

Dilesh Vaghela Treasurer

~~Ld~~ PAGE 4

PRAVASI MANDAL (ASIAN GROUP)

Independent examiner's report to the trustees of Pravasi Mandal (Asian Group) For the year ended 31 March 2024

I report to the charity trustees on my examination of the accounts of the Pravasi Mandal (Asian Group) (the Trust) for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3.

the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.

Paul Minards ATT DMO Accountants

First Floor Offices 25 Sanders Road Finedon Road Industrial Estate Wellingborough Northamptonshire NN8 4NL

PAGE 5

PRAVASI MANDAL (ASIAN GROUP)

Statement of Financial Activities For the year ended 31 March 2024

Unrestricted Unrestricted
Funds Funds
Note 2024 2023
£ £
INCOMING RESOURCES
Incoming resources from generated funds;
Voluntary income 2 4,520 7,891
Grants received 3 18,660 20,525
Activities for generating funds 4 107,760 81,222
Investment income 5 12,194 12,108
Total incoming resources 143,134 121,746
RESOURCES EXPENSED
Charitable activities 6 84,747 52,920
Cost of generating funds 7 12,129 16,524
Governance costs 8 1,011 9,626
Total resources expensed 97,887 79,070
Net resources before transfers 45,247 42,676
Net transfers (to)/from restricted fund 13 (31,481) 180
Net transfers (to)/from designated fund 14 0 0
Unrestricted funds brought forward 199,080 156,224
Unrestricted funds carried forward 212,846 199,080

The notes on pages 7 to 10 form part of these accounts.

~~Lo]~~ PAGE 6

PRAVASI MANDAL (ASIAN GROUP)

Charity number: 1056591

Balance Sheet

For the year ended 31 March 2024

Note 2024 2023
£ £
Fixed assets
Tangible fixed assets 9 922,447 890,966
Investments 10 483 460
922,930 891,426
Current assets
Debtors 11 2,416 2,636
Cash at hand and in bank 132,434 118,874
134,850 121,510
Creditors (due < 1 year) 12 636 1,039
Net current assets 134,214 120,471
NET ASSETS 1,057,144 1,011,897
Funds
Restricted income funds 13 593,598 562,117
Unrestricted funds 212,846 199,080
Designated funds 14 250,700 250,700
1,057,144 1,011,897

Approved by the board of trustees on 31 July 2024 and signed on its behalf.

Jitendra Majithia Secretary

Sureshchandra M Patel Chairman

Dilesh Vaghela Treasurer

The notes on pages 7 to 10 form part of these accounts.

PAGE 7

PRAVASI MANDAL (ASIAN GROUP)

Notes to the accounts For the year ended 31 March 2024

1.2 Fund accounting

Restricted funds where the donor has restricted the way in which the income can be spent

Unrestricted funds where the donor has made no stipulation in the way the income is spent and where the charity may use the funds in any way it sees fit in order to pursue its charitable objectives.

Designated funds where unrestricted funds have been earmarked by the Board for a particular charitable purpose.

Contributions made are charged to the Statement of Financial Activities as they become payable. All pensions are paid to independent pension providers where the pension fund assets are administered separately from the company.

Fixtures, utensils and equipment at £19,000

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets over their expected useful lives on a reducing balance basis. The rates applicable are 20% per annum. No depreciation is provided on the leasehold and freehold properties. The lease on the long leasehold property is for a term of 99 years commencing on 30 January 2014. This will be amortised once the lease enters its final 50 years.

Capital grants received for specific acquisition of fixed assets are deducted from the cost of the fixed asset in the year of acquisition.

1.6 Incoming resources

Voluntary income and donations are accounted for as received by the charity except for any grants received for specific purposes which have not been spent. The income from fund-raising ventures is shown gross, with associated costs included in fund-raising costs. No permanent endowments have been received in the year.

1.7 Resources expended

Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered.

Expenditure which is directly attributable to specific activities have been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of these resources.

1.8 Investments

Investments comprise shares in a listed company and are valued at market value at the end of the financial year.

1.9 Voluntary work and services received

The charity benefits from the many thousands of voluntary hours and unclaimed out of pocket expenses contributed by a large number of supporters. It would be impossible to place a value on all of these gifts in kind without which much of the work undertaken by the charity could not be achieved.

1.10 Restricted Fund

The Restricted Fund is the fund represented by the net book value of tangible fixed assets which is incapable of being distributed because it is tied up in land and buildings and contents.

PAGE 8

PRAVASI MANDAL (ASIAN GROUP)

Notes to the accounts (continued…) For the year ended 31 March 2024

2
VOLUNTARY INCOME
Donation from individuals
Membership fees
3
GRANTS RECEIVED
Other grants
4
ACTIVITES FOR GENERATING FUNDS
Lunch takings
Raffle prizes
Group activities
Photocopying
Trips income
Rental income and hall hire
Transport
Profit on Sale of Asset
5
INVESTMENT INCOME (UK)
Movement in value of listed investment shares
Income from listed investments
Interest receivable on cash deposits
Rent (less expenses) from freehold investment property
6
CHARITABLE ACTIVITES
Day centre running costs:
Motor expenses
Depreciation
Staff costs including employers pension contributions
Water rates
Light and heat
Cleaning and waste disposal
Insurance
Ladies group and men's evening group
Postage, printing and stationery
Telephone and internet
Hire of equipment
Repairs
Loss/(profit) on disposal
General expenses
Bank charges		 2024
£
1,875
2,645
4,520
2024
£
18,660
18,660
2024
£
53,022
492
1,634
18
3,928
23,634
1,800
23,232
107,760
2024
£
22
15
1,066
11,091
12,194
2024
£
4,622
2,675
46,377
1,188
17,793
1,139
1,849
1,470
97
719
194
5,835
0
435
354
84,747		 2023
£
6,856
1,035
7,891
2023
£
20,525
20,525
2023
£
44,795
110
921
11
1,030
34,355
0
0
81,222
2023
£
50
9
95
11,954
12,108
2023
£
3,242
2,537
21,383
1,014
12,474
1,089
2,298
935
781
712
194
5,481
0
136
644
52,920

PAGE 9

PRAVASI MANDAL (ASIAN GROUP)

Notes to the accounts (continued…) For the year ended 31 March 2024

7
FUND RAISING
Food for lunches
Trips expenditure
8
GOVERNANCE COSTS
Administration staff
Accountancy fees
Legal and professional fees		 2024
£
9,079
3,050
12,129
2024
£
0
600
411
1,011		 2023
£
13,713
2,811
16,524
2023
£
9,005
600
21
9,626

9 TANGIBLE FIXED ASSETS

9 TANGIBLE FIXED ASSETS
Long
leaseh- Investm- F, F &
old Freehol- ent equipm- Motor
Day d propert-y ent vehicle-s Total
£ £ £ £ £ £
Cost or valuation
Balance b/f 512,723 49,349 318,353 77,243 41,783 999,451
Additions 0 0 0 0 37,924 37,924
Disposals 0 0 0 0 (35,093) (35,093)
Balance c/f 512,723 49,349 318,353 77,243 44,614 1,002,282
Depreciation
Balance b/f 0 0 0 71,647 36,838 108,485
Charge for the year 0 0 0 1,054 1,621 2,675
On disposals 0 0 0 0 (31,325) (31,325)
Balance c/f 0 0 0 72,701 7,134 79,835
Net book value
As at 31 March 2024 512,723 49,349 318,353 4,542 37,480 922,447
As at 31 March 2023 512,723 49,349 318,353 5,596 4,945 890,966
10 INVESTMENTS 2024 2023
£ £
Listed investments: UK (market value at 31 March) 483 460
483 460
The movement in the year of £49 relates to a revaluation in respect of the reduction in market value at the
relevant accounting date.
11 DEBTORS 2024 2023
£ £
Trade debtors 0 0
Other debtors 769 0
Prepayments and accrued income 1,647 2,636
2,416 2,636

PAGE 10

PRAVASI MANDAL (ASIAN GROUP)

Notes to the accounts For the year ended 31 March 2024

(continued…)

12
CREDITORS (due < 1 year)
PAYE liability
Other creditors
Accruals		 2024
£
0
96
540
636		 2023
£
498
1
540
1,039

13 RESTRICTED FUND

The restricted fund is represented by the net book value of all tangible fixed assets except freehold investment properties.

The movement on the restricted fund is as follows:-
As at 1 April 2023
Additions at cost
Disposals at cost
Less depreciation this year
Add depreciation on disposals
TOTAL AS AT 31 MARCH 2024
14
DESIGNATED FUND
The designated fund is for the flats for the elderly project;
Designated funds brought forward
Transfers from unrestricted funds
Balance carried forward
15
CAPITAL COMMITEMENTS		 Fund
M'ment
£
£
562,117
37,924
37,924
(35,093)
(35,093)
564,948
2,831
(2,675)
(2,675)
31,325
31,325
28,650
28,650
593,598
2024
£
250,700
0
250,700
2024		 Fund
M'ment
£
£
562,297
2,357
2,357
0
0
2023
564,654
2,357
(2,537)
(2,537)
0
0
(2,537)
(2,537)
562,117
2023
£
250,700
0
250,700

The charity had no capital commitments at 31 March 2024 or at 31 March 2023.

16
STAFF NUMBERS AND COSTS
The average number of full time staff was as follows
Administrative
Direct charity staff (inclusive of leavers)
The payroll costs of these staff were as follows:
Gross salaries
Employers National Insurance
Less Employers Allowance
Employers Pension Contributions		 2024
1
5
6
46,177
529
(529)
201
46,378		 2023
1
4
5
30,297
183
(183)
91
30,388

There are no employees whose emoluments exceed £60,000 (2023 - none).