**REGISTERED COMPANY NUMBER: 03246746 (England and Wales) REGISTERED CHARITY NUMBER: 1058320**
## **TRUSTEES' REPORT AND**
## **FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 30 NOVEMBER 2020**
## **FOR**
**THE ASHA FOUNDATION (A COMPANY LIMITED BY GUARANTEE)**
**THE ASHA FOUNDATION**
## **CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 30 November 2020**
|||**Page**||
|---|---|---|---|
|**Trustees' Report**|1|to|3|
|**Statement of Trustees' Responsibilities**||4||
|**Report of the Independent Auditors**|5|to|6|
|**Statement of Financial Activities**||7||
|**Balance Sheet**||8||
|**Cash Flow Statement**||9||
|**Notes to the Cash Flow Statement**||10||
|**Notes to the Financial Statements**|11|to|17|
|**Detailed Statement of Financial Activities**||18||
**THE ASHA FOUNDATION**
## **TRUSTEES' REPORT for the Year Ended 30 November 2020**
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 30 November 2020. 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 aims**
The Asha Foundation ('Asha') is a registered charity, number 1058320, founded in 1996 which brings people and communities together, whatever their background and belief, to celebrate and honour our shared heritage. The Trust Deed is the Memorandum and Articles of Association as last revised and amended on 31 January 2002. Asha's objectives are:
- Development of human resources
- Education and training of young people
- Interfaith understanding, multi-faith activities, Art and Culture
- Community development and volunteering
The beneficiaries are people of diverse ethnic and national origin, and Asha's aims include the provision of buildings, facilities and open space, as well as the provision of opportunities for training, interaction and volunteering. We consider these objectives and the activities, both by definition and in practice to be of benefit to the public as demonstrated by the support from national and international authorities with whom Asha has engaged.
## **Public benefit**
In setting objectives and planning activities the Trustees have had regard to the guidance issued by the Charity Commission on public benefit in the running of the charity.
## **STRATEGIC REPORT**
## **Achievement and performance**
The year has fallen into two phases, being impacted by the Covid Lockdown and the prohibition on hospitality after the first quarter of the year. During this quarter, Erasmus+ courses continued as well as the hosting of local and educational groups and volunteers. Then the lockdown interrupted the arrival of overseas groups and some staff and volunteers returned home. Later during the short interval when the restrictions were lifted two courses became possible.
Whilst the Erasmus+ programme will survive Brexit until the end of 2023, the Foundation's policy of diversification has been pursued by the acquisition of other premises in order to expand the scope of its educational facilities.
The Foundation's objects continue to be entirely charitable in the field of education and training, involving areas such as diversity, sustainability, tolerance, human rights and artistic expression.
## **Financial review**
## **Investment policy and objectives**
Under the Memorandum and Articles of Association, the Charity has the power to make any investment which the Trustees see fit. In view of current market uncertainties, Trustees have invested in fixed term deposits where returns are reasonable and the investment is low risk.
Trustees endeavour to hold sufficient liquid funds to pay for ongoing activities; any surplus being held for income generation. The principal source of funds during the year was interest on deposits and fixed term deposits; the returns were disappointing due to the low rates of interest.
## **Reserves policy**
The charity maintains sufficient balances in its current account to meet its immediate expenses, the balance being held in term deposit accounts to provide interest income. It has substantial liquid reserves arising from the sale of its property in London some years ago, which are being retained to provide income. Going forward the Trustees intend to operate the charity on a no surplus/no deficit basis.
Page 1
**THE ASHA FOUNDATION**
## **TRUSTEES' REPORT**
## **for the Year Ended 30 November 2020**
## **STRATEGIC REPORT**
## **Post year-end events**
Prior to the Covid emergency, Asha had pursued its diversification strategy by acquiring the farmland and buildings at Church Farm, Abenhall, Gloucestershire. Planning permission was obtained for a visitor centre which will enable more groups and more varied courses to be offered.
During the pandemic, volunteer staff were returned to countries of origin while core staff who reside on the premises remained. Some voluntary activities continued while courses were postponed. Asha awaits the sufficient lifting of restrictions to enable authorised and funded courses to be resumed.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, its memorandum and articles of association in lieu of a deed of trust, and is constituted as a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Recruitment and appointment of new trustees**
A new Trustee may be appointed by an Ordinary Resolution to act as a Trustee of the Charity. As set out in the Articles of Association, one third of the Trustees are subject to retirement annually by rotation, depending on the longest in office since their appointment or reappointment at the Annual General Meeting.
## **Organisational structure**
Asha is governed by the Trustees, who meet as often as necessary. Day to day operations are delegated to the Chief Executive, Zerbanoo Gifford, who liaises directly and frequently with one or more of the trustees.
## **Risk management**
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. All significant activities are subject to risk review as part of the initial project assessment and implementation. The Trustees review the major risks that the Foundation faces on a regular basis and controls are established as appropriate.
The key controls used by the Foundation include:
- Regular management meetings to assess forthcoming activities
- Agendas and minutes
- Detailed budgetary presentation for each activity for approval by the Trustees
- Established organisational structure and lines of reporting
- Clear authorisation and approval levels
- Engagement of external professional advisors as and when necessary.
Through the controls established for running of the Foundation, the Trustees are satisfied that the major risks identified are adequately mitigated, where necessary. It is recognised that controls established can only provide reasonable, but not absolute, assurance that major risks have been adequately managed.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
03246746 (England and Wales)
## **Registered Charity number**
1058320
## **Registered office**
The Asha Centre Gunn Mill House Lower Spout Lane Nr Mitcheldean Gloucestershire GL17 0EA
Page 2
**THE ASHA FOUNDATION**
## **TRUSTEES' REPORT**
## **for the Year Ended 30 November 2020**
## **Trustees**
T T L Chan R D Gifford M C Traynor A Donnell A J Scott
## **Company Secretary**
T T L Chan
## **Auditors**
Kingscott Dix (Cheltenham) Limited Chartered Accountants Registered Auditors Malvern View Business Park Stella Way Bishops Cleeve Cheltenham Gloucestershire GL52 7DQ
## **Solicitors**
Bates Wells & Braithwaite LLP 2 - 6 Cannon Street London EC4 6YH
## **Bankers**
National Westminster Bank Plc CAF Bank Limited
## **Chief Executive Officer**
Z Gifford
## **AUDITORS**
The auditors, Kingscott Dix (Cheltenham) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Trustees' report, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 4 April 2021 and signed on the board's behalf by:
R D Gifford - Trustee
Page 3
**THE ASHA FOUNDATION**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES for the Year Ended 30 November 2020**
The trustees (who are also the directors of The Asha Foundation for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
Page 4
**REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE ASHA FOUNDATION**
## **Opinion**
We have audited the financial statements of The Asha Foundation (the 'charitable company') for the year ended 30 November 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 30 November 2020 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
- the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
- the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the trustees Report is inconsistent in any material respect with the financial statements; or
- the charitable company has not kept adequate accounting records; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
Page 5
**REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE ASHA FOUNDATION**
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Our responsibilities for the audit of the financial statements**
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
## **Use of our report**
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Kingscott Dix (Cheltenham) Limited Chartered Accountants Registered Auditors Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 Malvern View Business Park Stella Way Bishops Cleeve Cheltenham Gloucestershire GL52 7DQ
5 April 2021
Page 6
**THE ASHA FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 30 November 2020**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations
3
**Charitable activities**
6
Youth training and development
Other trading activities
4
Investment income
5
**Total**
**EXPENDITURE ON**
**Charitable activities**
7
Youth training and development
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
16
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
**34,559**
**-**
**156,041**
**2,737**
**193,337**
**278,273**
**(84,936)**
**(8,676)**
**(93,612)**
**3,987,058**
**3,893,446**|Restricted
fund
£
**-**
**374,839**
**-**
**-**
**374,839**
**383,515**
**(8,676)**
**8,676**
**-**
**-**
**-**|**2020**
**Total**
**funds**
**£**
**34,559**
**374,839**
**156,041**
**2,737**
**568,176**
**661,788**
**(93,612)**
**-**
**(93,612)**
**3,987,058**
**3,893,446**|2019
Total
funds
£
17,756
355,200
114,457
9,457
496,870
731,910
(235,040)
-
(235,040)
4,222,098
3,987,058|
|---|---|---|---|---|
The notes form part of these financial statements
Page 7
**THE ASHA FOUNDATION (REGISTERED NUMBER: 03246746)**
## **BALANCE SHEET**
## **30 November 2020**
|Notes
**FIXED ASSETS**
Tangible assets
12
**CURRENT ASSETS**
Debtors
13
Investments
14
Cash at bank
**CREDITORS**
Amounts falling due within one year
15
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
16
Unrestricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
**3,360,993**
**22,868**
**202,737**
**325,057**
**550,662**
**(18,209)**
**532,453**
**3,893,446**
**3,893,446**|Restricted
fund
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**2020**
**Total**
**funds**
**£**
**3,360,993**
**22,868**
**202,737**
**325,057**
**550,662**
**(18,209)**
**532,453**
**3,893,446**
**3,893,446**
**3,893,446**
**3,893,446**|2019
Total
funds
£
2,725,644
26,066
700,000
553,692
1,279,758
(18,344)
1,261,414
3,987,058
3,987,058
3,987,058
3,987,058|
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2020.
The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (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.
These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.
The financial statements were approved by the Board of Trustees and authorised for issue on 4 April 2021 and were signed on its behalf by:
R D Gifford - Trustee
The notes form part of these financial statements
Page 8
## **THE ASHA FOUNDATION**
## **CASH FLOW STATEMENT for the Year Ended 30 November 2020**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash used in operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Place funds on fixed term deposit
Return of funds on fixed term deposit
Interest received
Net cash (used in)/provided by investing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|**2020**
**£**
**(4,713)**
**(4,713)**
**(723,922)**
**(202,737)**
**700,000**
**2,737**
**(223,922)**
**(228,635)**
**553,692**
**325,057**|2019
£
(124,043)
(124,043)
(3,072)
(700,000)
1,000,000
9,457
306,385
182,342
371,350
553,692|
|---|---|---|
The notes form part of these financial statements
Page 9
**THE ASHA FOUNDATION**
## **NOTES TO THE CASH FLOW STATEMENT for the Year Ended 30 November 2020**
## **1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM**
**ACTIVITIES**|**OPERATING**||
|---|---|---|
|**Net expenditure for the reporting period (as per the Statement of**
**Financial Activities)**
**Adjustments for:**
Depreciation charges
Interest received
Decrease in debtors
(Decrease)/increase in creditors
**Net cash used in operations**|**2020**
**£**
**(93,612)**
**88,573**
**(2,737)**
**3,198**
**(135)**
**(4,713)**|2019
£
(235,040)
74,448
(9,457)
41,386
4,620|
|||(124,043)|
## 2.
## **ANALYSIS OF CHANGES IN NET FUNDS**
|**Net cash**
Cash at bank
**Liquid resources**
Deposits included in cash
Current asset investments
**Total**|At 1.12.19
£
**553,692**
**553,692**
**-**
**700,000**
**700,000**
**1,253,692**|Cash flow
£
**(228,635)**
**(228,635)**
**-**
**(497,263)**
**(497,263)**
**(725,898)**|**At 30.11.20**
**£**
**325,057**|
|---|---|---|---|
||||**325,057**|
||||**-**
**202,737**|
||||**202,737**|
||||**527,794**|
The notes form part of these financial statements
Page 10
**THE ASHA FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 30 November 2020**
## **1. GENERAL INFORMATION**
The Asha Foundation is a registered charity, incorporated in the United Kingdom as a company limited by guarantee. General information about the charity can be found within the Trustees' Report. The functional and presentational currency of the charity is British Sterling (£). The charity is a public benefit entity.
## **2. 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.
## **Judgements and estimation uncertainty**
The financial statements have been prepared using the following judgements and estimations: the useful economic life of tangible fixed assets has been estimated and tangible fixed assets are subject to corresponding depreciation rates; debtors are assessed for recoverability with doubtful debts provided for.
## **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.
Freehold property - Straight line over 50 years Plant & machinery - 33% on reducing balance
## **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.
## **Investments**
Investments are comprised of funds put on fixed term deposit with a maturity of more than 3 months but less than 1 year from the balance sheet date.
## **Foreign currencies**
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
continued...
Page 11
**THE ASHA FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 November 2020**
## **2. ACCOUNTING POLICIES - continued**
## **Pension costs**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Employees of the charity are entitled to join a money purchase defined contribution pension scheme. Any employees joining the money purchase pension scheme, contract directly with the insurance company. The group makes contributions to the individual schemes of employees and acts as agent in collecting and paying over employee pension contributions. The contributions made for the accounting period are treated as an expense.
## **Grants receivable**
Revenue grants receivable are recognised in the period when received. Capital grants are recognised over the estimated useful life of the related asset.
## **Debtors and creditors**
Debtors are recognised at the settlement amount due after any trade discount offered, less any provision for unrecoverable amounts.
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at the settlement amount due after any trade discounts.
## **3. DONATIONS**
|Donations
**4.**
**OTHER TRADING ACTIVITIES**
Event income
Other income
Job retention scheme grants
**5.**
**INVESTMENT INCOME**
Deposit interest|**2020**
**£**
**34,559**
**2020**
**£**
**33,160**
**3,300**
**119,581**
**156,041**
**2020**
**£**
**2,737**|2019
£
17,756
2019
£
100,406
14,051
-|2019
£
17,756|
|---|---|---|---|
|||114,457||
|||2019
£
9,457||
continued...
Page 12
**THE ASHA FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 November 2020**
## **6. INCOME FROM CHARITABLE ACTIVITIES**
|||**2020**|2019|
|---|---|---|---|
||Activity|**£**|£|
|Erasmus+ grants|Youth training and development|**374,839**|355,200|
## **7. CHARITABLE ACTIVITIES COSTS**
Charitable activities costs are comprised of:
|Direct costs|**£144,271**|(2019 - £139,223)|
|---|---|---|
|Staff costs|**£232,635**|(2019 - £305,327)|
|Support costs|**£285,269**|(2019 - £287,360)|
## **8. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||**2020**|2019|
|---|---|---|
||**£**|£|
|Depreciation - owned assets|**88,573**|74,448|
|Auditor remuneration - external audit|**3,995**|3,995|
|Auditor remuneration - other services|**1,305**|1,305|
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 November 2020 nor for the year ended 30 November 2019.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 30 November 2020 nor for the year ended 30 November 2019.
## **10. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Employees|**2020**
**£**
**217,766**
**8,959**
**5,910**
**232,635**
**2020**
**18**|2019
£
291,728
9,337
4,262|
|---|---|---|
|||305,327|
|||2019
18|
No employees received emoluments in excess of £60,000.
continued...
Page 13
**THE ASHA FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 November 2020**
|**11.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL**
**INCOME AND ENDOWMENTS FROM**
Donations
**Charitable activities**
Youth training and development
Other trading activities
Investment income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Youth training and development
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**
**12.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 December 2019
Additions
At 30 November 2020
**DEPRECIATION**
At 1 December 2019
Charge for year
At 30 November 2020
**NET BOOK VALUE**
At 30 November 2020
At 30 November 2019|**11.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL**
**INCOME AND ENDOWMENTS FROM**
Donations
**Charitable activities**
Youth training and development
Other trading activities
Investment income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Youth training and development
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**
**12.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 December 2019
Additions
At 30 November 2020
**DEPRECIATION**
At 1 December 2019
Charge for year
At 30 November 2020
**NET BOOK VALUE**
At 30 November 2020
At 30 November 2019|**ACTIVITIES**
Unrestricted
fund
£
17,756
-
114,457
9,457
141,670
248,182
(106,512)
(128,528)
(235,040)
4,222,098
3,987,058
Freehold
property
£
**3,365,052**
**718,882**
**4,083,934**
**652,205**
**81,670**
**733,875**
**3,350,059**
2,712,847||Restricted
fund
£
-
355,200
-
-
355,200
483,728
(128,528)
128,528
-
-
-
Plant &
machinery
£
**185,815**
**5,040**
**190,855**
**173,018**
**6,903**
**179,921**
**10,934**
12,797||Total
funds
£
17,756
355,200
114,457
9,457
496,870
731,910
(235,040)
-
(235,040)
4,222,098
3,987,058
Totals
£
**3,550,867**
**723,922**
**4,274,789**
**825,223**
**88,573**
**913,796**
**3,360,993**
2,725,644|
|---|---|---|---|---|---|---|
||||||||
||||||||
||||||||
||||||||
||||||||
continued...
Page 14
**THE ASHA FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 November 2020**
## **13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**13.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||||
|---|---|---|---|---|---|
|Other debtors
**14.**
**CURRENT ASSET INVESTMENTS**
Other investments
**15.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Social security and other taxes
Other creditors
**16.**
**MOVEMENT IN FUNDS**
Net
At
movement
1.12.19
in funds
£
£
**Unrestricted funds**
General fund
**3,987,058**
**(84,936)**
**Restricted funds**
Erasmus+
**-**
**(8,676)**
**TOTAL FUNDS**
**3,987,058**
**(93,612)**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
**193,337**
**Restricted funds**
Erasmus+
**374,839**
**TOTAL FUNDS**
**568,176**|||**2020**
**£**
**22,868**
**2020**
**£**
**202,737**
**2020**
**£**
**6,672**
**4,439**
**7,098**
**18,209**
Transfers
between
funds
£
**(8,676)**
**8,676**
**-**
Resources
expended
£
**(278,273)**
**(383,515)**
**(661,788)**||2019
£
26,066
2019
£
700,000
2019
£
7,955
4,089
6,300
18,344
At
30.11.20
£
**3,893,446**
**-**
**3,893,446**
Movement
in funds
£
**(84,936)**
**(8,676)**
**(93,612)**|
|||||||
|||||||
|||||||
Page 15
continued...
**THE ASHA FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 November 2020**
## **16. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|Net
At
movement
1.12.18
in funds
£
£
**Unrestricted funds**
General fund
4,222,098
(106,512)
**Restricted funds**
Erasmus+
-
(128,528)
**TOTAL FUNDS**
4,222,098
(235,040)
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
141,670
**Restricted funds**
Erasmus+
355,200
**TOTAL FUNDS**
496,870
A current year 12 months and prior year 12 months combined position is as follows:
Net
At
movement
1.12.18
in funds
£
£
**Unrestricted funds**
General fund
4,222,098
(191,448)
**Restricted funds**
Erasmus+
-
(137,204)
**TOTAL FUNDS**
4,222,098
(328,652)||Transfers
between
funds
£
(128,528)
128,528
-
Resources
expended
£
(248,182)
(483,728)
(731,910)
Transfers
between
funds
£
(137,204)
137,204
-|At
30.11.19
£
3,987,058
-
3,987,058
Movement
in funds
£
(106,512)
(128,528)
(235,040)
At
30.11.20
£
3,893,446
-
3,893,446|
|---|---|---|---|
|||||
|||||
Page 16
continued...
**THE ASHA FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 November 2020**
## **16. 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:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|335,007|(526,455)|(191,448)|
|**Restricted funds**||||
|Erasmus+|730,039|(867,243)|(137,204)|
|**TOTAL FUNDS**|1,065,046|(1,393,698 )|(328,652)|
## **17. RELATED PARTY DISCLOSURES**
Employees: During the current and previous year the charity employed 2 individuals who are related to a trustee. These individuals are not employed under any special terms and are remunerated in the normal course of business.
Key management: During the year remuneration paid to key management personnel was £52,000 (2019 - £60,000).
## **18. RESTRICTED FUNDS**
The charity receives grants from the EU's Erasmus+ program as well as other sources. These grants are treated as restricted funds.
Erasmus+ is the programme the European Union has set up for young people. It aims to inspire a sense of active European citizenship, solidarity and tolerance among young Europeans to involve them in shaping the Union's future. More details of the programme are available at http://eacea.ec.europa.eu/youth/.
Page 17
**THE ASHA FOUNDATION**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 November 2020**
|**INCOME AND ENDOWMENTS**
**Donations**
Donations
**Other trading activities**
Event income
Other income
Job retention scheme grants
**Investment income**
Deposit interest
**Charitable activities**
Erasmus+ grants
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages
Social security
Pensions
Rent and rates
Insurance
Heat and light
Travel and subsistence costs for participants
Motor expenses
Sundries
Office and advertising
Telephone
Contractors and consultancy
Repairs & property maintenance
Bank charges
Exchange rate variances
Training
Auditor remuneration
Input VAT irrecoverable
Depreciation of tangible fixed assets
Total resources expended
**Net expenditure**|2020
£
**34,559**
**33,160**
**3,300**
**119,581**
**156,041**
**2,737**
**374,839**
**568,176**
**217,766**
**8,959**
**5,910**
**3,108**
**5,399**
**22,258**
**104,556**
**14,109**
**9,135**
**3,259**
**2,349**
**44,806**
**76,533**
**960**
**(20,863)**
**36,973**
**3,995**
**34,003**
**88,573**
**661,788**
**661,788**
**(93,612)**|2019
£
17,756
100,406
14,051
-
114,457
9,457
355,200
496,870
291,728
9,337
4,262
2,530
1,846
13,455
135,625
26,317
1,492
4,694
1,899
35,060
72,776
1,751
2,079
48,616
3,995
-
74,448
731,910
731,910
(235,040)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 18