DocuSign Envelope ID: C441CB34-D108-4524-94CB-6724557171F2
COMPANY REGISTRATION NUMBER: 02962554 CHARITY REGISTRATION NUMBER: 1070193
Bharatiya Vidya Bhavan (Manchester) Limited Company Limited by Guarantee Financial Statements 31 August 2023
STERLING FINANCE [UK] LIMITED
Chartered accountants & statutory auditor Westbourne House 159 Oldham Road Ashton Under Lyne Lancashire United Kingdom OL7 9AR
DocuSign Envelope ID: C441CB34-D108-4524-94CB-6724557171F2
Bharatiya Vidya Bhavan (Manchester) Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2023
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent auditor's report to the members | 2 |
| Statement of financial activities (including income and | |
| expenditure account) | 6 |
| Statement of financial position | 7 |
| Statement of cash flows | 8 |
| Notes to the financial statements | 9 |
DocuSign Envelope ID: C441CB34-D108-4524-94CB-6724557171F2
Bharatiya Vidya Bhavan (Manchester) Limited Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) Year ended 31 August 2023
The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 August 2023.
Reference and administrative details
Registered charity name Bharatiya Vidya Bhavan (Manchester) Limited
Charity registration number 1070193 Company registration number 02962554 Principal office and registered Westbourne House office 159 Oldham Road Ashton Under Lyne Lancashire OL7 9AR England
The trustees
Mr B J Sisodia Mr P Joshi Mr K Rajput Mrs G Upadhyaya
Reference and administrative details are shown in the schedule of members of the board and professional advisers on page 1 of the financial statements.
THE TRUSTEES
The trustees who served the company during the period were as follows:
Mr B J Sisodia Mr P Joshi Mr K Rajput
Auditor Sterling Finance [UK] Limited Chartered accountants & statutory auditor Westbourne House 159 Oldham Road Ashton Under Lyne Lancashire United Kingdom OL7 9AR
The trustees' annual report and the strategic report were approved on 13 May 2024 and signed on behalf of the board of trustees by:
(«¢DocuSigned by:
Mr B J Sisodia Trustee
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DocuSign Envelope ID: C441CB34-D108-4524-94CB-6724557171F2
Bharatiya Vidya Bhavan (Manchester) Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Bharatiya Vidya Bhavan (Manchester) Limited Year ended 31 August 2023
Opinion
We have audited the financial statements of Bharatiya Vidya Bhavan (Manchester) Limited (the 'charity') for the year ended 31 August 2023 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, 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, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 31 August 2023 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;
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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 auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. 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.
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DocuSign Envelope ID: C441CB34-D108-4524-94CB-6724557171F2
Bharatiya Vidya Bhavan (Manchester) Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Bharatiya Vidya Bhavan (Manchester) Limited Year ended 31 August 2023
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the trustees' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors 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 charity'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 charity or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
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 an auditor’s report 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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DocuSign Envelope ID: C441CB34-D108-4524-94CB-6724557171F2
Bharatiya Vidya Bhavan (Manchester) Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Bharatiya Vidya Bhavan (Manchester) Limited Year ended 31 August 2023
In accordance with the UK auditing standards, our audit procedures were designed to obtain reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. While our audit is not a guarantee of the accuracy of the financial statements, we have executed a series of targeted audit procedures aimed at identifying irregularities, including potential fraud.
These procedures included:
Risk Assessment: Evaluating the charity's susceptibility to material misstatement due to fraud or error. This involved discussions with management, review of key financial controls, and analysis of the charity's overall control environment.
Inquiry and Observation: Conducting inquiries of management and those charged with governance about their knowledge of actual or suspected fraud and observing the charity’s internal controls to assess the robustness of the processes in place to prevent and detect fraud.
Analytical Procedures: Performing analytical procedures to identify unusual transactions or trends that could indicate potential misstatements due to fraud or error. This included the analysis of financial data and ratios to detect inconsistencies.
Testing of Transactions: Conducting detailed testing of specific transactions and balances. This involved inspecting supporting documentation, verifying authorisations, and confirming the existence and valuation of assets and liabilities.
Review of Internal Controls: Evaluating the design and implementation of the charity’s internal controls related to financial reporting and assessing the effectiveness of these controls in preventing and detecting fraud.
Professional Scepticism: Applying professional scepticism throughout the audit, being alert to the possibility of fraud and errors, and critically assessing audit evidence.
Confirmation Procedures: Obtaining external confirmations of bank balances, investments, and other significant items to verify their existence and accuracy.
Review of Legal and Regulatory Compliance: Reviewing the charity's compliance with relevant laws and regulations that might impact the financial statements, including provisions that address fraud.
Despite these comprehensive procedures, it is important to acknowledge that audits are inherently
limited in their ability to detect all irregularities, including fraud, due to the hidden nature of fraudulent activities, the potential for collusion, and the complexity of schemes designed to conceal wrongdoing.
The Board of Trustees acknowledges its responsibility for the prevention and detection of fraud and ensuring the integrity of the charity’s financial reporting process. We continue to emphasise the importance of maintaining a strong control environment and promoting ethical behaviour throughout the organisation.
By following these audit procedures, we aim to provide a high level of assurance that any material misstatements, whether due to fraud or error, are identified and addressed in our audit of the financial statements.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
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DocuSign Envelope ID: C441CB34-D108-4524-94CB-6724557171F2
Bharatiya Vidya Bhavan (Manchester) Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Bharatiya Vidya Bhavan (Manchester) Limited Year ended 31 August 2023
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
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Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.
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Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's 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 charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.
Sterling Finance [UK] Limited Chartered accountants & statutory auditor
Westbourne House 159 Oldham Road Ashton Under Lyne Lancashire United Kingdom OL7 9AR
13 May 2024
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DocuSign Envelope ID: C441CB34-D108-4524-94CB-6724557171F2
Bharatiya Vidya Bhavan (Manchester) Limited
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 August 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 1,913 | 1,913 | 19 |
| Charitable activities | 6 | 36,837 | 36,837 | 32,099 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total income | 38,750 | 38,750 | 32,118 | |
| ============================ | ============================ | ============================ | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Costs of other trading activities | 7 | 662 | 662 | 166 |
| Expenditure on charitable activities | 8,9 | 35,893 | 35,893 | 34,122 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total expenditure | 36,555 | 36,555 | 34,288 | |
| ============================ | ============================ | ============================ | ||
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Net income/(expenditure) and net movement in funds | 2,195 | 2,195 | (2,170) | |
| ============================ | ============================ | ============================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 26,740 | 26,740 | 28,910 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total funds carried forward | 28,935 | 28,935 | 26,740 | |
| ============================ | ============================ | ============================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 15 form part of these financial statements.
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DocuSign Envelope ID: C441CB34-D108-4524-94CB-6724557171F2
Bharatiya Vidya Bhavan (Manchester) Limited
Company Limited by Guarantee
Statement of Financial Position
31 August 2023
| 31 August 2023 | |||
|---|---|---|---|
| 2023 | 2022 | ||
| Note | £ | £ | |
| Current assets | |||
| Cash at bank and in hand | 29,765 | 28,799 | |
| Creditors: amounts falling due within one year | 13 | – | 2,059 |
| ---------------------------- | ---------------------------- | ||
| Net current assets | 29,765 | 26,740 | |
| ---------------------------- | ---------------------------- | ||
| Total assets less current liabilities | 29,765 | 26,740 | |
| Creditors: amounts falling due after more than one year | 14 | 830 | – |
| ---------------------------- | ---------------------------- | ||
| Net assets | 28,935 | 26,740 | |
| ============================ | ============================ | ||
| Funds of the charity | |||
| Unrestricted funds | 28,935 | 26,740 | |
| ---------------------------- | ---------------------------- | ||
| Total charity funds | 15 | 28,935 | 26,740 |
| ============================ | ============================ |
These financial statements were approved by the board of trustees and authorised for issue on 13 May 2024, and are signed on behalf of the board by:
(«¢DocuSigned by:
Mr B J Sisodia Trustee
The notes on pages 9 to 15 form part of these financial statements.
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DocuSign Envelope ID: C441CB34-D108-4524-94CB-6724557171F2
Bharatiya Vidya Bhavan (Manchester) Limited
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 August 2023
| Year ended 31 August 2023 | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Cash flows from operating activities | ||
| Net income/(expenditure) | 2,195 | (2,170) |
| Adjustments for: | ||
| Accrued (income)/expenses | (2,059) | 1,154 |
| Changes in: | ||
| Trade and other creditors | 830 | – |
| ----------------------- | ----------------------- | |
| Cash generated from operations | 966 | (1,016) |
| -------------- | ----------------------- | |
| Net cash from/(used in) operating activities | 966 | (1,016) |
| ============== | ======================= | |
| Net increase/(decrease) in cash and cash equivalents | 966 | (1,016) |
| Cash and cash equivalents at beginning of year | 28,799 | 31,094 |
| ---------------------------- | ---------------------------- | |
| Cash and cash equivalents at end of year | 29,765 | 30,078 |
| ============================ | ============================ |
The notes on pages 9 to 15 form part of these financial statements.
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DocuSign Envelope ID: C441CB34-D108-4524-94CB-6724557171F2
Bharatiya Vidya Bhavan (Manchester) Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 August 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Westbourne House, 159 Oldham Road, Ashton Under Lyne, Lancashire, OL7 9AR, England.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. The financial standards applicable in the UK and the Republic of Ireland, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) Charities SORP (FRS 102) and Companies Act 2006
Changes in formats
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. These financial statements were prepared in accordance with Section 1A of the Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS102") as issued in August 2014. The amendments to FRS 102 issued in July 2015 have been applied. The presentation currency of these financial statements is Sterling Pounds.
Changes in accounting policies
In the transition to section 1A of FRS from old UK GAAP, the Company has made no measurement and recognition adjustments. Changes in accounting estimates
In the transition to section 1A of FRS from old UK GAAP, the Company has made no measurement and recognition adjustments.
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DocuSign Envelope ID: C441CB34-D108-4524-94CB-6724557171F2
Bharatiya Vidya Bhavan (Manchester) Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 August 2023
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
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DocuSign Envelope ID: C441CB34-D108-4524-94CB-6724557171F2
Bharatiya Vidya Bhavan (Manchester) Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 August 2023
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment - 20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
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DocuSign Envelope ID: C441CB34-D108-4524-94CB-6724557171F2
Bharatiya Vidya Bhavan (Manchester) Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 August 2023
4. Limited by guarantee
The liability of each member is limited to £1, being the amount that each member undertakes to contribute to the assets of the company in the event of its being wound up while he is a member or within one year after he ceases to be a member, for-
(a) payment of the company's debts and liabilities contracted before he ceases to be a member,(b) payment of the costs, charges and expenses of winding up, and(c) adjustment of the rights of the contributories among themselves.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations received | 1,913 | 1,913 | 19 | 19 | |
| ======================= | ======================= | ============== | ============== | ||
| 6. | Charitable activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Education Activities-fees received | 36,837 | 36,837 | 32,099 | 32,099 | |
| ============================ | ============================ | ============================ | ============================ | ||
| 7. | Costs of other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Costs of other trading activities - | |||||
| Advertising and publicity | 662 | 662 | 166 | 166 | |
| ============== | ============== | ============== | ============== | ||
| 8. | Expenditure on charitable activities | by fund type | |||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Activity type 1 | 32,974 | 32,974 | 30,486 | 30,486 | |
| Support costs | 2,919 | 2,919 | 3,636 | 3,636 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| 35,893 | 35,893 | 34,122 | 34,122 | ||
| ============================ | ============================ | ============================ | ============================ | ||
| 9. | Expenditure on charitable activities | by activity type | |||
| Activities | |||||
| undertaken | Support | Total funds | Total fund | ||
| directly | costs | 2023 | 2022 | ||
| £ | £ | £ | £ | ||
| Activity type 1 | 32,974 | – | 32,974 | 30,486 | |
| Governance costs | – | 2,919 | 2,919 | 3,636 | |
| ---------------------------- | ----------------------- | ---------------------------- | ---------------------------- | ||
| 32,974 | 2,919 | 35,893 | 34,122 | ||
| ============================ | ======================= | ============================ | ============================ |
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DocuSign Envelope ID: C441CB34-D108-4524-94CB-6724557171F2
Bharatiya Vidya Bhavan (Manchester) Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 August 2023
10. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 26,765 | 26,073 |
| ============================ | ============================ |
| The average head count of employees during the year was Nil (2022: 12). The average | The average head count of employees during the year was Nil (2022: 12). The average | number of |
|---|---|---|
| full-time equivalent employees during the year is analysed as follows: | ||
| 2023 | 2022 | |
| No. | No. | |
| Number of staff - type 1 | 12 | – |
| ============== | ============== |
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
11. Trustee remuneration and expenses
no remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
12. Tangible fixed assets
| Equipment | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| At 1 September 2022 and 31 August 2023 | 1,106 | ||
| ======================= | |||
| Depreciation | |||
| At 1 September 2022 and 31 August 2023 | 1,106 | ||
| ======================= | |||
| Carrying amount | |||
| At 31 August 2023 | – | ||
| ======================= | |||
| At 31 August 2022 | – | ||
| ======================= | |||
| 13. | Creditors: amounts falling due within one year | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Accruals and deferred income | – | 2,059 | |
| ============== | ======================= | ||
| 14. | Creditors: amounts falling due after more than one year | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Trade creditors | 830 | – | |
| ============== | ============== |
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DocuSign Envelope ID: C441CB34-D108-4524-94CB-6724557171F2
Bharatiya Vidya Bhavan (Manchester) Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 August 2023
15. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | At | |||
| 1 | September | 31 August 2 | ||
| 2022 | Income | Expenditure | 023 | |
| £ | £ | £ | £ | |
| General funds | 26,740 | 38,750 | (36,555) | 28,935 |
| ============================ | ============================ | ============================ | ============================ | |
| At | At | |||
| 1 | September | 31 August 20 | ||
| 2021 | Income | Expenditure | 22 | |
| £ | £ | £ | £ | |
| General funds | 28,910 | 32,118 | (34,288) | 26,740 |
| ============================ | ============================ | ============================ | ============================ | |
| Analysis of net assets between funds | ||||
| Unrestricted | Total Funds | |||
| Funds | 2023 | |||
| £ | £ | |||
| Current assets | 29,765 | 29,765 | ||
| Creditors less than 1 year | (830) | (830) |
||
| ---------------------------- | ---------------------------- | |||
| Net assets | 28,935 | 28,935 | ||
| ============================ | ============================ | |||
| Unrestricted | Total Funds | |||
| Funds | 2022 | |||
| £ | £ | |||
| Current assets | 28,799 | 28,799 | ||
| Creditors less than 1 year | (2,059) | (2,059) |
||
| ---------------------------- | ---------------------------- | |||
| Net assets | 26,740 | 26,740 | ||
| ============================ | ============================ |
16. Analysis of net assets between funds
17. Financial instruments
In accordance with FRS 102.22, financial instruments issued by the Company are treated as equity only to the extent that they meet the following two conditions:
(a) They include no contractual obligations upon the Company to deliver cash or other financial assets or to exchange financial assets or financial liabilities with another party under conditions that are potentially unfavourable to the Company; and
(b) Where the instrument will or may be settled in the Company's own equity instruments, it is either a non-derivative that includes no obligation to deliver a variable number of the Company's own equity instruments or is a derivative that will be settled by the Company's exchanging a fixed amount of cash or other financial assets for a fixed number of its own equity instruments.
To the extent that this definition is not met, the proceeds of issue are classified as a financial liability. Where the instrument so classified takes the legal form of the Company's own shares, the amounts presented in these financial statements for called up share capital and share premium account exclude amounts in relation to those shares.
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DocuSign Envelope ID: C441CB34-D108-4524-94CB-6724557171F2
Bharatiya Vidya Bhavan (Manchester) Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 August 2023
18. Analysis of changes in net debt
| At | At | |||
|---|---|---|---|---|
| 1 | Sep 2022 | Cash flows | 31 Aug 2023 | |
| £ | £ | £ | ||
| Cash at bank and in hand | 28,799 | 966 | 29,765 | |
| ============================ | ============== | ============================ |
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