CHARITY REGISTRATION NUMBER: 1074854
Pakistan Welfare Association (Slough) Unaudited Financial Statements 31 March 2023
MERIDIAN INSIGHT
Accountants & Statutory Auditors Unit 15A, Slough Business Park 94 Farnham Road Slough Berkshire SL1 3FQ
Pakistan Welfare Association (Slough)
Financial Statements
Year ended 31 March 2023
| Pages | |
|---|---|
| Trustees' annual report | 1 to 2 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 to 10 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 11 to 12 |
Pakistan Welfare Association (Slough)
Trustees' Annual Report
Year ended 31 March 2023
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2023.
Reference and administrative details
Registered charity name Pakistan Welfare Association (Slough) Charity registration number 1074854 Principal office Darvills Lane Slough SL1 2PH Berkshire
The trustees
Mr M Shabbir President Mr A Sattar Vice President Mrs S Akbar Information Secretary Mr M Khurshed General Secretary Mr M Z Khan Finance Secretary Mr S Kiayani (resigned) Mr R Chohan (resigned) Company secretary Mr M Khurshed Independent examiner Bilal Amin ACA FCCA Unit 15A, Slough Business Park 94 Farnham Road Slough Berkshire SL1 3FQ
Structure, governance and management
The Association is run by the elected office bearers and by the members of the nominated executive committee. The office bearers are elected for three years by the Slough community through public votes. These elected members then become trustees of the Association for the duration of their office. However due to Covid-19 restrictions election could not be held in the last year. Therefore, the old trustees continued with their responsibilities.
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Pakistan Welfare Association (Slough)
Trustees' Annual Report (continued)
Year ended 31 March 2023
Objectives and activities
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
The aims and the objects of the Association are to provide welfare services to the Pakistani Community in Slough, to promote racial harmony, to provide assistance and guidance to its members, to hold social events and celebrate National Days, to keep liaison with local authorities with a view to resolve various matters concerning the Pakistani Community.
Achievements and performance
The Association carries out a wide range of activities in pursuance of its charitable objectives. The trustees consider that the activities like festivals celebration, homework club and IT classes, school support project, luncheon club, creche facilities and other public services to individuals and local groups and organisations provide benefit to the wider community of Slough.
Financial review
The net surplus of the Association is set out on page 4 and the trustees consider that the accumulated funds and the continued support from the Slough Borough Council would be sufficient to enable the Association to meet its objectives.
Plans for future periods
The charity has purchased the freehold rights of the building from the Slough Borough Council in May 2019 with the generous financial support of local community by raising donations and interest free loans from individuals and other local businesses. These loans are interest free and are repayable on demand.
The trustees' annual report was approved on 2 October 2023 and signed on behalf of the board of trustees by:
Mr M Z Khan Finance Secretary
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Pakistan Welfare Association (Slough)
Independent Examiner's Report to the Trustees of Pakistan Welfare Association (Slough)
Year ended 31 March 2023
I report to the trustees on my examination of the financial statements of Pakistan Welfare Association (Slough) ('the charity') for the year ended 31 March 2023.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement - matter of concern identified
I confirm that no other matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
Bilal Amin ACA FCCA Independent Examiner
Unit 15A, Slough Business Park 94 Farnham Road Slough Berkshire SL1 3FQ
Dated: 02 October 2023
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Pakistan Welfare Association (Slough)
Statement of Financial Activities
Year ended 31 March 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations, grants and other projects | 4 | 32,383 | 32,383 | 61,907 |
| Other income | 5 | 70,752 | 70,752 | 78,435 |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 103,135 | 103,135 | 140,342 | |
| ================================ | ================================ | ================================ | ||
| Expenditure | ||||
| Governance costs | 6 | 66,185 | 66,185 | 55,444 |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 66,185 | 66,185 | 55,444 | |
| ================================ | ================================ | ================================ | ||
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net income and net movement in funds | 36,950 | 36,950 | 84,898 | |
| ================================ | ================================ | ================================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 366,290 | 366,290 | 281,392 | |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 403,240 | 403,240 | 366,290 | |
| ================================ | ================================ | ================================ |
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 6 to 10 form part of these financial statements.
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Pakistan Welfare Association (Slough)
Statement of Financial Position
31 March 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 12 | 630,586 | 628,679 | |
| Current assets | ||||
| Debtors | 13 | 18,484 | 8,103 | |
| Cash at bank and in hand | 86,031 | 145,044 | ||
| -------------------------------- | -------------------------------- | |||
| 104,515 | 153,147 | |||
| Creditors: amounts falling due within one year | 14 | 331,861 | 415,536 | |
| -------------------------------- | -------------------------------- | |||
| Net current liabilities | 227,346 | 262,389 | ||
| -------------------------------- | -------------------------------- | |||
| Total assets less current liabilities | 403,240 | 366,290 | ||
| -------------------------------- | -------------------------------- | |||
| Net assets | 403,240 | 366,290 | ||
| ================================ | ================================ | |||
| Funds of the charity | ||||
| Unrestricted funds | 403,240 | 366,290 | ||
| -------------------------------- | -------------------------------- | |||
| Total charity funds | 16 | 403,240 ================================ |
366,290 ================================ |
These financial statements were approved by the board of trustees and authorised for issue on 2 October 2023, and are signed on behalf of the board by:
Mr A Sattar Vice President
________ Mr M Z Khan Finance Secretary
The notes on pages 6 to 10 form part of these financial statements.
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Pakistan Welfare Association (Slough)
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Darvills Lane, Slough, SL1 2PH, Berkshire.
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 Charities Act 2011.
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.
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.
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Pakistan Welfare Association (Slough)
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
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.
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
All fixed assets are initially recorded at cost.
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:
Freehold Building exc. Land - 1% straight line Equipment,,Fixtures & Fittings - 15% reducing balance
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Pakistan Welfare Association (Slough)
Notes to the Financial Statements (continued)
Year ended 31 March 2023
4. Donations, grants and other projects
| 4. | Donations, grants and other projects | ||||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 13,369 | 13,369 | 1,480 | 1,480 | |
| Grants | |||||
| Sundry projects | 7,680 | 7,680 | 22,247 | 22,247 | |
| SBC - sundry grants | 11,334 | 11,334 | 20,667 | 20,667 | |
| Other grants | – | – | 17,513 | 17,513 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| 32,383 | 32,383 | 61,907 | 61,907 | ||
| ============================ | ============================ | ============================ | ============================ | ||
| 5. | Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Rent receivable | 70,752 | 70,752 | 78,435 | 78,435 | |
| ============================ | ============================ | ============================ | ============================ | ||
| 6. | Expenditure on governance | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Governance costs | 66,185 | 66,185 | 55,444 | 55,444 | |
| ============================ | ============================ | ============================ | ============================ | ||
| 7. | Net income | ||||
| Net income is stated after charging/(crediting): | |||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 4,893 | 3,964 | |||
| Legal and professional fees | 6,260 | 1,086 | |||
| ======================= | ======================= | ||||
| 8. | Independent examination fees | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial | statements | 480 ======================= |
480 ============== |
9. Staff costs
The average head count of employees during the year was 1 (2022: 1).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
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Pakistan Welfare Association (Slough)
Notes to the Financial Statements (continued)
Year ended 31 March 2023
10. Trustee remuneration and expenses
All trustees are volunteers and render their services free of charge.
11. Tangible fixed assets
| 11. | Tangible fixed assets | |||
|---|---|---|---|---|
| Land and | Fixtures and | |||
| buildings | fittings | Total | ||
| £ | £ | £ | ||
| Cost | ||||
| At 1 April 2022 | 635,274 | 18,380 | 653,654 | |
| Additions | – | 6,800 | 6,800 | |
| -------------------------------- | ---------------------------- | -------------------------------- | ||
| At 31 March 2023 | 635,274 | 25,180 | 660,454 | |
| ================================ | ============================ | ================================ | ||
| Depreciation | ||||
| At 1 April 2022 | 10,058 | 14,917 | 24,975 | |
| Charge for the year | 3,353 | 1,540 | 4,893 | |
| -------------------------------- | ---------------------------- | -------------------------------- | ||
| At 31 March 2023 | 13,411 | 16,457 | 29,868 | |
| ================================ | ============================ | ================================ | ||
| Carrying amount | ||||
| At 31 March 2023 | 621,863 | 8,723 | 630,586 | |
| ================================ | ============================ | ================================ | ||
| At 31 March 2022 | 625,216 | 3,463 | 628,679 | |
| ================================ | ============================ | ================================ | ||
| 12. | Debtors | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Prepayments and accrued income | 9,031 | 4,150 | ||
| Other debtors | 9,453 | 3,953 | ||
| ---------------------------- | ----------------------- | |||
| 18,484 | 8,103 | |||
| ============================ | ======================= | |||
| 13. | Creditors: amounts falling due within one year | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Bank and sundry loans | 320,855 | 405,856 | ||
| Trade creditors | 935 | 2,894 | ||
| Accruals and deferred income | 8,256 | 4,545 | ||
| Social security and other taxes | 746 | 972 | ||
| Other creditors | 1,069 | 1,269 | ||
| -------------------------------- | -------------------------------- | |||
| 331,861 | 415,536 | |||
| ================================ | ================================ |
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Pakistan Welfare Association (Slough)
Notes to the Financial Statements (continued)
Year ended 31 March 2023
14. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £39 (2022: £Nil).
15. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | ||||
| At | 31 March 20 | |||
| 1 April 2022 | Income | Expenditure | 23 | |
| £ | £ | £ | £ | |
| General funds | 366,290 | 103,135 | (66,185) | 403,240 |
| ================================ | ================================ | ============================ | ================================ | |
| At | ||||
| At | 31 March 20 | |||
| 1 April 2021 | Income | Expenditure | 22 | |
| £ | £ | £ | £ | |
| General funds | 281,392 | 140,342 | (55,444) | 366,290 |
| ================================ | ================================ | ============================ | ================================ | |
| Analysis of net assets between funds | ||||
| Unrestricted | Total Funds | |||
| Funds | 2023 | |||
| £ | £ | |||
| Tangible fixed assets | 630,586 | 630,586 | ||
| Current assets | 104,515 | 104,515 | ||
| Creditors less than 1 year | (331,861) | (331,861) |
||
| -------------------------------- | -------------------------------- | |||
| Net assets | 403,240 | 403,240 | ||
| ================================ | ================================ | |||
| Unrestricted | Total Funds | |||
| Funds | 2022 | |||
| £ | £ | |||
| Tangible fixed assets | 628,679 | 628,679 | ||
| Current assets | 153,147 | 153,147 | ||
| Creditors less than 1 year | (415,536) | (415,536) |
||
| -------------------------------- | -------------------------------- | |||
| Net assets | 366,290 | 366,290 | ||
| ================================ | ================================ |
16. Analysis of net assets between funds
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Pakistan Welfare Association (Slough)
Management Information
Year ended 31 March 2023
The following pages do not form part of the financial statements.
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Pakistan Welfare Association (Slough)
Notes to the Detailed Statement of Financial Activities
Year ended 31 March 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations, grants and other projects | ||
| Donations | 13,369 | 1,480 |
| Sundry projects | 7,680 | 22,247 |
| SBC - sundry grants | 11,334 | 20,667 |
| Other grants | – | 17,513 |
| ---------------------------- | ---------------------------- | |
| 32,383 | 61,907 | |
| ---------------------------- | ---------------------------- | |
| Other income | ||
| Rent receivable | 70,752 | 78,435 |
| ---------------------------- | ---------------------------- | |
| -------------------------------- | -------------------------------- | |
| Total income | 103,135 | 140,342 |
| ================================ | ================================ | |
| Expenditure | ||
| Expenditure on governance | ||
| Wages and salaries | 11,700 | 5,333 |
| Pension costs | 39 | – |
| Volunteers’ expenses | 3,195 | 2,650 |
| Newspaper and other general expenses | 300 | 1,229 |
| Premises costs | 18,797 | 11,319 |
| Accountancy, legal and professional fees | 6,867 | 1,631 |
| Repairs and maintenance | 2,765 | 280 |
| Insurance | - | 1677 |
| Telephone | 434 | 1,404 |
| Other office costs | 688 | 554 |
| Luncheon club and events costs | 12,287 | 10,342 |
| Depreciation | 4,893 | 3,964 |
| Interest payable and similar charges | 1,882 | 1,058 |
| Freelance consultant | 2,338 | 14,003 |
| -------------------------------- | -------------------------------- | |
| 66,185 | 55,444 | |
| -------------------------------- | -------------------------------- | |
| ---------------------------- | ---------------------------- | |
| Total expenditure | 66,185 | 55,444 |
| ============================ | ============================ | |
| ---------------------------- | ---------------------------- | |
| Net income | 36,950 | 84,898 |
| ============================ | ============================ |
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