**REGISTERED CHARITY NO: 1059780**
## **MIDLAND INDIAN ASSOCIATION**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED**
**31 MARCH 2021**
**REGISTERED CHARITY NO: 1059780**
## **MIDLAND INDIAN ASSOCIATION**
|**CONTENTS**|**PAGE**|
|---|---|
|Trustees’ Report|1-3|
|Independent Examiner’s Report|4|
|Statement of Financial Activity|5|
|Balance Sheet|6|
|Notes to the Accounts|7-9|
|Non Statutory Statement:||
|Detailed Income and Expenditure Account|10-11|
## **MIDLAND INDIAN ASSOCIATION**
## **REGISTERED CHARITY NO: 1059780**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2021**
This is the 21[st] report of the Trustees of the Midland Indian Association and relates to the year ended 31 March 2021.
## **Structure, Governance and Management**
The Charity achieved the status of Registered Charity on 14 December 1996. The Charity is constituted by a Trust Deed adopted at the Annual General Meeting of 1996, as amended 25 June 2005 and 12 May 2007.
There are three Holding Trustees who, once elected, remain in office for five years or until they become 70, whichever comes first, or until they retire or become ineligible to continue because of removal from the area or for personal reasons. Two years must elapse before a retiring Trustee may seek re-election.
A Holding Trustee may be removed at a General Meeting.
The Officers and Trustees at the year ended 31 March 2021, were:-
|**President:**|Dr Anup Kumar Chaudhuri|
|---|---|
|**Vice President:**|Dr Kartik Chandra Ray|
|**Secretary:**|Mr Amit Paul Choudhury|
|**Assistant Secretary:**|Mrs Sukla Maji|
|**Treasurer:**|Ms Susmita Mitra|
|**Assistant Treasurer:**|Mr Sumanta Mitra|
|**Committee Members:**||
||Dr jayasri Chaudhuri|
||Mr Ronan Ghosh|
||Mr Surajit Basu|
||Mrs Anuradha Banerjee|
||Mr Aniruddha Chakravarti|
||Dr Jayanta Mukherjee|
||Mrs Kasturi Mukherjee|
|**Trustees:**|Dr Pranab Ghosh|
||Mr Dilip Roy|
||Dr Sankar Maji|
|**Centre Manager:**|Dr Arabinda Kundu|
The Association is managed by an Executive Committee which is elected annually by majority vote. Any member who has been a full member for at least three years may stand for election.
## **Principal Address**
57-59 Lower Forster Street Walsall West Midlands WS1 1XB
## **Objects of the Charity**
To advance religion according to the tenets of the Hindu faith. To advance the education of the public, in particular those of Hindu-Bengali origin and their descendents. To
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provide facilities in the interest of social welfare for recreation and other leisure time occupation.
## **MIDLAND INDIAN ASSOCIATION**
## **REGISTERED CHARITY NO: 1059780**
**TRUSTEES’ REPORT /cont... FOR THE YEAR ENDED 31 MARCH 2021**
## **Financial Review**
The results for the year can be seen on the Statement of Financial Activities which shows a surplus on the General Fund for the year of £16,457 (2020: deficit £12,636).
## **Review of Activities**
There were no events during the year due to COVID restrictions.
There was one fundraising virtual activity to raise funds for those affected by the West Bengal Cyclone.
Work was done during the year to improve the heating system and the general building,
We continue to carry out work to meet our overall objectives.
We are able to do this work as a result of the generous donations received from our members.
## **Reserves Policy**
The Trustees aim to build free reserves to a level where the activities it promotes can be sustained from one year to the next with certainty and the venue can be maintained in good condition.
The balance at the year end is £86,623 (2020: £70,166).
## **Investment Policy**
The investment policy of the Trustees is to keep funds not required immediately on shortterm high interest deposit with reputable deposit takers.
## **Public Benefit**
The Trustees confirm that they have paid due regard to the guidance given by the Charity Commission on public benefit. The Trustees consider that all the activities undertaken by the Charity are for public benefit.
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## **MIDLAND INDIAN ASSOCIATION**
## **REGISTERED CHARITY NO: 1059780**
## **TRUSTEES’ REPORT /cont... FOR THE YEAR ENDED 31 MARCH 2021**
## **Statement of Trustees’ responsibilities**
The Trustees 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).
The law applicable to Charities in England & Wales 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 Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charities SORP;
- Make adjustments 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 Charity will continue in operation.
The Trustees are responsible for keeping accounting records that 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, the Charity (Accounts Reports) Regulations 2008 and Trust Deed. 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.
On behalf of the Managing Committee
Dr P Ghosh Trustee
2022
3
## **MIDLAND INDIAN ASSOCIATION**
## **REGISTERED CHARITY NO: 1059780**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
I report on the accounts of the Charity for the year ended 31 March 2021 which are set out on pages 5 to 9.
## **Respective responsibilities of Trustees and 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 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- Examine the accounts under Section 145 of the 2011 Act;
- Follow procedures laid down in the general Directions given by the Charity Commission under Section 145(5)(b) of the 2011 Act; and
- State whether particular matters have come to my attention.
## **Basis of independent examiner’s statement**
My examination was carried out in accordance with 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 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 no opinion is given as to whether the accounts 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 matter has come to my attention:
1. Which gives me reasonable cause to believe that, in any material respect, the requirements:
- To keep accounting records in accordance with Section 130 of the 2011 Act; and
- To prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
2. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
J E Davis FCA Bakers (The practising name of Baker (Midlands) Limited) Arbor House Walsall WS1 2AN
2022
4
## **MIDLAND INDIAN ASSOCIATION**
## **REGISTERED CHARITY NO: 1059780**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021**
||Not|General|Designate|Restricted|Total|2020|
|---|---|---|---|---|---|---|
||e||d||||
|||Fund|Fund|Fund|||
|||£|£|£|£|£|
|**INCOMING**|||||||
|**RESOURCES**|||||||
|Government Grants|||||||
|received||25,000|-|-|25,000|-|
|Voluntary Income||-|-|-|-|532|
|Activities generating||11,500|-|-|11,500|17,560|
|funds|||||||
|Investment income||207|-|-|207|205|
|Income from Charitable|||||||
|Donations||15,552|-|-|15,552|33,026|
|Gift Aid Tax recovered|2|-|-|-|-|18,575|
|||–––––––|–––––––|–––––––|–––––––|–––––––|
|Total Incoming||52,259|-|-|52,259|69,898|
|Resources|||||||
|||–––––––|–––––––|–––––––|–––––––|–––––––|
|**RESOURCES**|||||||
|**EXPENDED**|||||||
|**COST OF GENERATING**|||||||
|**FUNDS**|||||||
|Charitable activities||34,902|-|3,685|38,587|66,532|
|Building repairs||-|-|-|-|18,486|
|Governance costs|3|900|-|-|900|1,200|
|||–––––––|–––––––|–––––––|–––––––|–––––––|
|Total Resources Expended||35,802|-|3,685|39,487|86,218|
|||–––––––|–––––––|–––––––|–––––––|–––––––|
|Net|||||||
|(Outgoing)/Incoming|||||||
|Resources||16,457|-|(3,685)|12,772|(16,321)|
|Funds at|1 April 2020|70,166|1,178|525,040|596,384|612,705|
|---|---|---|---|---|---|---|
|||–––––––|–––––––|–––––––|–––––––|–––––––|
|Funds at|31 March 2021|86,623|1,178|521,355|609,156|596,384|
|||–––––––|–––––––|–––––––|–––––––|–––––––|
The notes on pages 7 to 9 form part of these financial statements
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## **MIDLAND INDIAN ASSOCIATION**
## **REGISTERED CHARITY NO: 1059780**
## **BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2021**
||Note||2021|||2020||
|---|---|---|---|---|---|---|---|
|||£||£|£||£|
|**Fixed Assets**||||||||
|Tangible Assets|5|||519,799|||523,913|
|**Current Assets**||||||||
|Cash at bank||90,938|||73,153|||
|Cash in hand||459|||458|||
|||–––––––|||–––––––|||
|||91,397|||73,611|||
|Creditors: amounts due within||||||||
|one year|6|2,040|||1,140|||
|||–––––––|||–––––––|||
|Net Current Assets||||89,357|||72,471|
|||||–––––––|||–––––––|
|**Net Assets**||||609,156|||596,384|
|||||–––––––|||–––––––|
|**Represented by:**||||||||
|Unrestricted fund||||86,623|||70,166|
|Designated fund|7|||1,178|||1,178|
|Restricted fund|8|||521,355|||525,040|
9
––––––– ––––––– 609,156 596,384 ––––––– –––––––
On behalf of the Managing Committee
Ms S Mitra Treasurer
2022
The notes on pages 7 to 9 form part of these financial statements
6
## **MIDLAND INDIAN ASSOCIATION REGISTERED CHARITY NO: 1059780**
**NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021**
## 1. **ACCOUNTING POLICIES**
- a. The financial Statements have been drawn up under the historical cost accounting rules, the requirements of the Charities Act and the Statement of Recommended Practice – Accounting and Reporting by Charities and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
- b. Depreciation of the building and improvements to the property commenced in the year following completion (2005) at the rate of 2% per annum, excluding the value of land which is not depreciated. Depreciation on equipment is charged at 20% of cost.
- c. Unrestricted funds are those funds which are available for any project or activity which may be carried out by the Trustees within the terms of the constitution.
Designated funds are funds which have been designated for a particular purpose from the unrestricted funds. They remain unrestricted and can be moved to other funds or be redesignated if the Association so decides.
Restricted funds are those which have been given for specific projects and are to be used within those projects only.
- d) All incoming resources are recognised where the Association is legally entitled to the income and the amount can be quantified with reasonable
accuracy. Donations and Gift Aid tax recoverable are recognised when received.
- e) All expenditure is included on an accruals basis and is recognised where there is a legal or constructive obligation to pay for the expenditure. The Charity is not VAT registered therefore all costs are shown inclusive of any VAT charged.
## 2. **GIFT AID**
As per the above accounting policy, gift aid tax recoverable is recognised when received.
## 3. **GOVERNANCE COSTS**
|**GOVERNANCE COSTS**|||||
|---|---|---|---|---|
|||2021|2020||
|||£|£||
|Accountancy charges (Including VAT)||-|Accounts|900|
|840|||||
|-|Gift Aid claims|-|360||
|||––––|––––||
|||900|1,200||
|||––––|––––||
## 4. **TRUSTEES REMUNERATION**
The Trustees have received no remuneration or reimbursement of expenses in the year. (2020: £NIL).
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## **MIDLAND INDIAN ASSOCIATION**
## **REGISTERED CHARITY NO: 1059780**
## **NOTES TO THE ACCOUNTS /cont... FOR THE YEAR ENDED 31 MARCH 2021**
## 5. **TANGIBLE FIXED ASSETS**
|Land &
Freehold
Car Park
Equipment
Property
**COST**
£
£
£
As at 1 April 2020
368,541
222,586
8,530
Additions
-
-
-
––––––––
––––––––
––––––––
As at 31 March 2021
368,541
222,586
8,530
––––––––
––––––––
––––––––
**Depreciation**
As at 1 April 2020
68,501
-
7,243
Charge for year
3,685
-
429
4
––––––––
––––––––
––––––––
As at 31 March 2021
72,186
-
7,672
––––––––
––––––––
––––––––
**Net Book Value**
As at 31 March 2021
296,355
222,586
858
––––––––
––––––––
––––––––
As at 31 March 2020
300,040
222,586
1,287|Total
£
599,657
-
––––––––
599,657
––––––––|
|---|---|
||75,744
4,114
––––––––
79,858
––––––––|
||519,799
––––––––|
||523,913|
–––––––– –––––––– –––––––– ––––––––
No depreciation has been charged on freehold land with a valuation of £184,000. No depreciation has been charged on the freehold land relating to the car park.
## 6. **CREDITORS:** Amounts due within one year
|**CREDITORS:**Amounts due within|one year||
|---|---|---|
||2021|2020|
||£|£|
|Trade creditors|-|-|
|Accruals|2,040|1,140|
||–––––|–––––|
||2,040|1,140|
||–––––|–––––|
## 7. **DESIGNATED FUND**
The designated fund is the Protima Fund which has been set up in order to fund future purchases of replacement images of the Protima from India.
## 8. **RESTRICTED FUNDS**
||Balance|||
|---|---|---|---|
||1 April 2020|Movement|31 March 2021|
||£|£|£|
|Venue Fund|300,040|(3,685)|296,355|
|Car park|225,000|-|225,000|
||–––––––|–––––––|–––––––|
||525,040|(3,685)|521,355|
||–––––––|–––––––|–––––––|
The Venue Fund consists of the property and land owned by the Charity and the movement in the year is the depreciation charged on the property.
## 8
## **MIDLAND INDIAN ASSOCIATION**
## **REGISTERED CHARITY NO: 1059780**
## **NOTES TO THE ACCOUNTS /cont... FOR THE YEAR ENDED 31 MARCH 2021**
## 9. **ANALYSIS OF NET ASSETS BETWEEN FUNDS**
||Unrestricted|Designated|Restricted|Total|
|---|---|---|---|---|
||Funds|Funds|Funds|Funds|
||£|£|£|£|
|Fixed Assets|858|-|518,941|519,799|
|Current Assets|87,805|1,178|2,414|91,397|
|Current Liabilities|(2,040)|-|-|(2,040)|
||–––––––|–––––––|–––––––|–––––––|
||86,623|1,178|521,355|609,156|
||–––––––|–––––––|–––––––|–––––––|
10. **RELATED PARTY TRANSACTIONS**
There are no related party transactions for both current and previous year that require disclosure.
9
## **MIDLAND INDIAN ASSOCIATION**
## **REGISTERED CHARITY NO: 1059780**
## **GENERAL FUND - INCOME FOR THE YEAR ENDED 31 MARCH 2021**
|**INCOME**|2021|2020|
|---|---|---|
||£|£|
|Brochures|-|4,575|
|Ganesh Puja|-|532|
|Membership subscriptions|1,266|4,686|
|General donations|14,286|-|
|Durga Puja|-|18,811|
|Rabindra Jayanti|-|564|
|Bijoya Sammilani|-|-|
|Saraswati Puja|-|1,340|
|Annual Dinner|-|-|
|Picnic|-|-|
|Kali Puja|-|1,924|
|Poila Baishakh|-|-|
|Lakshmi Puja|-|626|
|Room Hire|-|500|
|---|---|---|
|Car park|11,500|17,560|
|Bank interest|207|204|
|Gift Aid|-|18,575|
|New Year’s Eve|-|-|
|Musical evening|-|-|
||–––––––|–––––––|
||27,259|69,897|
||–––––––|–––––––|
For the information of the Trustees
## 10
## **MIDLAND INDIAN ASSOCIATION REGISTERED CHARITY NO: 1059780**
## **GENERAL FUND - EXPENDITURE FOR THE YEAR ENDED 31 MARCH 2021**
|**EXPENDITURE**|2021|2020|
|---|---|---|
||£|£|
|Rabindra Jayanti|-|620|
|Durga Puja|-|12,170|
|Bijoya Sammilani|-|196|
|Independence Day|-|-|
|Saraswati Puja|-|233|
|Annual Dinner|-|1,596|
|Picnic|-|-|
|Kali Puja|-|1,164|
|Poila Baishakh|-|-|
|Lakshmi Puja|-|227|
|Ganesh Puja|-|330|
|Rates and water|6,792|8,183|
|Heating and light|10,405|16,526|
|Artistes|-|-|
|---|---|---|
|Printing, postage, telephone and stationery|1,392|1,563|
|Cleaning, general maintenance and miscellaneous|11,932|13,376|
|Projector/microphones|-|400|
|Building repairs|-|18,486|
|Donations|1,131|500|
|Insurances|2,016|2,031|
|Security|764|1,729|
|Accountancy fees|900|1,200|
|Flooring/carpet cleaning|-|-|
|Depreciation of equipment|429|643|
|Bank charges|41|102|
|Brochures|-|-|
|Queue barriers|-|453|
|Musical evening/entertainment|-|260|
|Travel|-|545|
||–––––––|–––––––|
||35,802|82,533|
||–––––––|–––––––|
For the information of the Trustees
11