THAMES BENGALI ASSOCIATION REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Charity Registration Number: 1075596 THAMES BENGALI ASSOCIATION REPORT AND ACCOUNTS CONTENTS Page Legal & administrative information Management Committee Report Independent examiners. Report Statement of Financial Activities Balance Sheet Notes to the Accounts THAMES BENGALI ASSOCIATION Legal & Administrative Infonnation Name of Charity: Thames Bengali Association Charity Registration No. 1075596 Correspondence Address: 134 Oban Street Poplar London E14 OGR Tel: 0207 068 0476 Email: hussaintba@yahoo.co.uk Management Committee Mr Mohammed Abdul Hannan Mr Ali Mohammed Jakaria Mr Misba Uddin Ahmed Mr M Ali Khan Mr Abu Monsur Ibne Noor (Chairperson) (General Secretary) (Assistant Secretary) (Organising & Cultural Secretary) (Treasurer) Independent Examiners A K M Shalim ACPA Link Accountancy Certified Public Accountants 214 Jubilee Street London E13BS Bankers Lloyds Bank Commercial Road Branch 210 Commercial Road London E12JR THAMES BENGALI ASSOCIATION ANNUAL REPORT OF THE MANAGEMENT COMMIThEE FOR THE YEAR ENDED 31 MARCH 2024 The members of the Management Committee are pleased to present their report and financial statements for the year ended 31 March 2024. The Thames Bengali Association was established in February 1998 and was incorporated as a charity and its name was entered in the Charity Commission's Central Register on the 201h May 1999. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with applicable law and the requirements of the Statement of Recommended Practice, "Accounting and Reporting by Charities. issued in March 2005. Histo ob"ectives and activities of the char. Its objectives and principal activities are defined in its Constitution, namely.. Thames Bengali Association is a registered charity established in 1999 by local ethnic minority parents living in Tower Hamlets. The aim of the Charity has been to advance the education and the ￿lief of poverty through the provision of advi￿. Thames Bengali Association has been delivering the foll0v￿ng services to the very disadvantaged sections of the local grassroot communities residing in the Shadwell and neighbouring areas in the London Borough of Tower Hamlets.. (a) Bengali Mother Tongue Educational Classes providing language support classes. cultural educational workshops, classes and events. (b) Helping to raise the academic achievements of underachieving children from all backgrounds through supplementary education, study support and home work support so that children build their academic skills to gain GSCE and other academic qualifications. (c) ESOL classes, key skills training sessions helping people to build their language skills. gain recognised accredited qualifications that will help their integration in the wider community and improve their employment prospects. (d) Social, leisure and recreational activities that brings together people from all sections of the community that promotes integration, community togetherness and social connectedness. Structure Govemance and Mana ement The charity is constituted by a Constitution. It is govemed by the regulations set out in the Consts'tution and run by a voluntary management committee. The charity's new committee members are elected at the Annual General Meeting every two years. The New Management Committee members are nomally briefed by the Chairperson and the General Secretary so that they can familiarise themselves with the rules. regulations and responsibilities of the charity. The Management Committee met four ts'mes during the year to review the activities of the charity including the approval of the annual report and accounts as well as budgets. capitsl expenditure and to set out the fund-raising date for the charity. The Chairperson who is responsible to and reports to the Management Committee oversees the day-to-day work of the charity. The Coordinator of the Associab'on explores different avenues for funding and consults with the finan￿ sub-commtttee on a 3-monthly basis. The Management Committee is aware of the potential risks to the charity. both financial and otherwise. Therefore, strategies are in place to control these risks. Assessments have been taken relating to fire and health and safety. We have policies in pla￿, such as Child Protecb'on, Health and Safety and Equal opportunities. All our staff are DBS checked. We have public and employers, liability insuran￿. Achievements and Performance of the Association Thames Bengali Association is actively seeking to protect rts financial security in order to continue to safeguard the ongoing development of the Association. The Charity successfvlly secured funding from diffe￿nt funders to run the Project. Financial Review The financial position of the Charity is portrayed in the accompanying Annual Accounts. Reserve Polic It is Ihe policy of the charity that unrestricted funds, which have not been designated for a specific use, should be maintained at a level equivalent to at least three months expenditure. The Management Committee consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's Gurrent activities while consideration is given to ways in which additional funds may be raised. Thames Bengali Association will acts'vely work to achieve this level of reserves. statement of Trustees, Res onsibilities Law applicable to charities in England & Wales requI￿S the Committee to prepare financial statement for each financial year, which gives a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the committee of management is required to.. (a) Select suitable accounting policies and apply consistently (b) Make judgements and estimates that are reasonable and prudent; (c) State whether applicable accounting standards and statements of recommended Practi￿ have been followed, subject to any departures disclosed and explained in the financial statements,. (d) Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Management Committee is responsible for keeping accounting records, which discloses with reasonable accuracy at any time the financial position of the charty and enable them to ensure that the financial statements comply with the charities act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Rlsk Mana ement The Management Committee have a risk management strategy which comprises the following areas: An annual review of the risks the charity may face. The establishment of systems and procedures designed to mitigate those risks identified in the plan. And the implementations of such procedures designed to minimise any potential impact on the charity should those risks materialise. Inde endent Examlner According to the provisions of the Charities Act 2011. the Trustees agree that an audit is not required for this financial year,. however due to Ihe provisions of the same act an Independent Examiner is required. The Association intends to ask the existing Independent Examiner (Link Accountancy Ltd) to undertake the Independent Examination of the Association in the following year. Approval The Management Committee approved this report and signed on its behalf by: Mohammed Abdul Hannan Chairperson Date: 15 June 2024 INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF MANAGEMENT COMMIThEE OF THE THAMES BENGALI ASSOCIATON I report on the accounts of the charity for the year ended 31 March 2024, which is set out on pages 6 to 9. Respective responsibilities of the Committee Members and examiner The charity's management Committee consider that an audit is not required for this year (under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to: examine the accounts (under section 145 of the Act)., to follow the procedures laid down in the General D1￿ctionS given by the Charity Commission (under section 145(5)(b) of the Act), and to state whether particular matters have come to my attention. Basis of the independent examinerf5 report My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. Independent examiner's statement In the course of my examination. no matter has come to our attention.. (1) which gives me reasonable cause to believe that in, any material respect, the Committee of management have not met the requirements to ensure that: proper accounting records are kept (in accordance with section 130 of the Charities Act); and accounts are prepared which agree with the accounting records and comply wth the accounting requirements of the Act; or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. A K M Shalim ACPA Link Accountancy Ltd Certified Public Accountants 214 Jubilee Street London E13BS LINK ACCOUNTANCY 15 June 2024 $tr••l LoryJ•n El 36S T•l.. 0207 790 1811 THAMES BENGALI ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Notes Unrestricted Restrlcted Funds Funds 2024 2023 Incomlng Resources Incoming resources from generating funds: Voluntary Income.. Grants & Donations 27,930 27.930 25,016 Total Incoming Resources 27,930 27,930 25.016 Resources Expended Charitable activities 23.005 23,005 25,356 Governance cost 1.810 1,810 3,100 Total Resources Expended 24,815 24,815 28.456 Net incoming/outgoing resources before transfers 3,115 3,115 (3,440) Gross transfers between funds Net movement in funds 3,115 3,115 (3,440) Reconclllatlon of Funds: Total funds, brought forward 500 11,973 12,473 15,913 Total funds. carried fo￿ard 500 15,088 15,588 12,473 THAMES BENGALI ASSOCIATION BALANCE SHEET AS AT 31 MARCH 2024 Notes 2024 2023 Fixed Assets Tangible Assets 1,268 1,691 Current Assets Cash in hand and at Bank 24,427 24,427 19,158 19,158 Creditors Amounts falling within one year 10.107 8,376 Net Current Assets 14,320 10,782 Net Assets 15,588 12,473 The Funds of the Charity Unrestricted fvnds Restricted funds 500 15.088 15.588 500 11,973 12,473 These accounts were approved by the Trustees on 15 June 2024 and were signed on its behalf by.. .Chair of the Management Committee Mohammed Abdul Hannan .Treasurer Abu Monsur Ibne Noor The notes on pages 8 to 9 fom part of these accounts. Thames Bengali Association Notes to the Accounts For the year ended 31 March 2024 1 Accounting policies The following accounting policies have been used consistently in dealing with items which are considered material in relation to the financial statements. Basis of preparation of accounts The accounts are prepared under the historical cost convention and in accordance with applicable Accounting Standards and the Statement of Recommended Practice {SORP), "Accounting and Reporting by Charities: Statement of recommended practice" published in March 2005. Fund accounting Restricted income funds are funds subject to specific restrictions imposed by donors or by the purpose of the appeal. Incoming resources All income is accounted for as soon as the Thames Bengali Association has entitlement to the income and there is ￿rtaInty of receipt and the amount is quantifiable. Resources expended All expenditure is accounted for on an accruals basis and has been listed under headings that aggregate all the costs related to that activity. Where costs cannot be directly attributed they have been allocated to activities on a basis consistent with the use of the resources. Direct costs, including directly attributable salaries, are allocated on an actual basis to the key strategic areas of activity. Overheads and other salaries are allocated between expenses headings on the basis of time spent. G0Veman￿ costs are those incurred in connection wth the management of the Thames Bengali Association's assets, organisational administration and compliance with constitutional and statutory requirements. Tangible fixed assets and depreciation Tangible fixed assets costing more than £500 are capitalised and included at cost including any incidental costs of acquisition. Depreciation is provided on Offi￿ equipment at the rate of 25 /0 on reducing balance basis. 2. Grants and Donations Unrestricted Restricted 2024 2023 East End Community Foundation BBC Children in Need ESC Lottery Awards for All 5,000 10,496 8,062 19,868 27,930 8,062 19,868 27,930 9.520 25,016 3. Cost of Charitsble activities Basis of allocation Education & Training 2024 2023 Cost directly allocated to activities.. Staff & Volunteer cost Other Overhead Events and Activities Direct Direct Direct 19,837 3,168 19,837 3,168 20,816 3,189 1,351 25,356 23,005 23,005 4. Tanglble Fixed Assets Office ment ui COST At 1April 2023 Additions during the year At 31 March 2024 10.821 10,821 DEPRECIATION At 1 April 2023 Charge for the year At 31 March 2024 9.130 423 9,553 NET BOOKVALUES AT 31 March 2024 1,268 1.691 AT 31 March 2023 5. Governance Cost Basis of allocation Governance 2024 2023 Independent examination fee Fundraising Cost Direct Direct 600 1,210 1,810 600 1,210 1,810 600 2,500 3,100 6. Creditors: amounts falling due withln one year Accountancy & Independent examinats'on fee Other Creditors & Accruals 1.458 8,649 10,107 1.458 6,918 8,376