BHATIA ASSOCIATION (U.K.)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
CHARITY REGISTERED NUMBER 1076010
STERLING ASSOCIATES Chartered Certified Accountants
5 Theobald Court Theobald Street Elstree Herts WD6 4RN
BHATIA ASSOCIATION (U.K.)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
CONTENTS
Pages
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|---|---|---|---|---|
|1-2|Trustees|Report|
|3|Independent|Examiner's|Report|
|4|Statement|of|Financial|Activities|
|5|Balance|Sheet|
|6-8|Notes|to the|Financial|Statement|
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The following do not form part of the statutory financial statements:
9 Income & expenditure account
BHATIA ASSOCIATION (U.K.)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
TRUSTEES
Rohit Babla (President) Chandresh R Sampat (Vice President) Pratik Babla (Treasurer) Anoop S Okhai (Secretary) Anjana Swaly Bipin Nanavati Janak V Sampat Mukesh Ved Nilesh Mamnani Nita Sampat Shah Rajiv Bajaria Sundip Okhai
CORRESPONDENCE ADDRESS
5 Theobald Court Theobald Street Elstree Herts WD6 4RN
CHARITY REGISTERED NUMBER
1076010
BANKERS
Barclays Bank ple Chancery Lane & Goslings Bloomsbury & Chancery Lane Group P O Box 11345 London W12 8GG
United Trust Bank Limited One Ropemaker Street London EC2Y SAW
INDEPENDENT EXAMINER
Sterling Associates Chartered Certified Accountants 5 Theobald Court Theobald Street
Elstree Herts WD6 4RN
BHATIA ASSOCIATION (U.K.)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their annual report and accounts of Bhatia Association (U.K.) for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland published on 16 July 2014.
TRUSTEES RESPONSIBILITIES
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which gives a true and fair view of the charity's financial activities during the year and of it's financial position at the end of the year (unless the charity is entitled to prepare modified accounts on a receipts and payment basis). In preparing these financial statements, the trustees are required to:
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1) select suitable accounting policies and then apply them consistently;
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2) make judgements and estimates that are reasonable and prudent;
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3) state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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4) prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. The Trustees are also responsible for safeguarding the assets of the charity and hence take reasonable steps for the prevention and detection of fraud and other irregularities.
CHARITABLE STATUS AND OBJECTIVES
The Association was registered as a charity on 15 June 1999.
The charity's principal aims and activities during the year were:
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a) To advance religion and education in accordance with the tenets and doctrines of the Hindu religion. In so doing to make grants to institutions or bodies providing educational classes in subjects which may include Hindu heritage and culture, such as art, drama, history, exhibitions, publications, literature, seminars, lecturers, dance and music.
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b) To promote good race relations by means of fostering good relations between people of different group.
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c) To relieve poverty, by the provision of grants and awards to those persons in need and or are in necessitous circumstances as the Trustees shall by discretion determine.
There have been no changes in the charity's objectives since 15 June 1999.
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BHATIA ASSOCIATION (U.K.)
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
REVIEW OF THE TRANSACTIONS AND FINANCIAL POSITION
During the year, the Association received a legacy from the estate of a member of £21,539. This has been disclosed within voluntary contributions in the statement of financial activities. See Note 2 for further details.
The net surplus in the general fund for the year was £1,874 (2022: £2,933 ).
The general fund reserves at the end of the financial year amounted to £6,043 (2022: £14,169).
‘
The charity's main income during the year is as follows:
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2023 2022
£ £
Donations 6,241 6,452
Sale of passes and entrance fees 10,738 9,855
50th anniversary sales 19 8,840
Bank interest received 1,557 800
Sale of raffle tickets 385 500
Subscription income 4,740 4,544
Amazon Europe 35 14
Other income 265 -
23,980 31,005
——— —IIIISISS——————=
THE TRUSTEES AND THE GOVERNING DOCUMENTS
The following Trustees served during the year:
Rohit Babla (President) Mukesh Ved
Chandresh R Sampat (Vice President) Nilesh Mamnani
Pratik Babla (Treasurer) Nita Sampat Shah
Anoop S Okhai (Secretary) Rajiv Bajaria
Anjana Swaly Sundip Okhai
Bipin Nanavati
Janak V Sampat
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The charity's governing document is its Constitution. Under the Constitution, Trustees are elected by members for two years, and have the power to appoint a further three co-opted members.
No Trustees received any remuneration for services as a Trustee during the year (2022: £Nil).
No Trustees had any beneficial interest in any contract with the charity during the year.
No insurance has been taken out to protect the charity against losses arising from neglect or default of the Trustees. Neither have the Trustees been indemnified in respect of the consequences of any such losses.
The financial statements were approved by the Trustees on 19 March 2024
On behalf of the Trustees
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ident
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INDEPENDENT EXAMINERS' REPORT TO THE TRUSTEES OF
BHATIA ASSOCIATION (U.K.}
FOR THE YEAR ENDED 31 DECEMBER 2023
| report on the accounts of the charity for the year ended 31 December 2023, which are set out on pages 4 to 8.
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 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 Charities Act; - to follow the procedures laid down in the General Directions given by the Charity Commissioner under section 145(5)(b) of the Charities Act; and - tostate whether particular matters have come to my attention.
Basis of independent examiner's report
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My examination was carried out in accordance with the general directions given by the Charity Commissioner , An examination includes a review If 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 the seeking of 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 presents a true and fair view' and the report is limited to those matters set out in the statement below. Independent examiner's report In connection with my examination, no matter has come to my attention: - which gives me cause to believe that, in any material respect: a) the accounting records were not kept in accordance with Section 130 of the Charities Act or; b) the accounts did not accord with the accounting records; or c) the accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (accounts and Reports) Regulation 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. - {have come across no other matters in connection with the examination to which attention should be drawn in the report in order to enable a proper understanding of the accounts to be reached.
Milan Pandya For and on behalf of Sterling Associates Chartered Certified Accountants 5 Theobald Court Theobald Street Elstree Herts WD6 4RN
Dated: 19 March 2024
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BHATIA ASSOCIATION (U.K.)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
| General | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| fund | funds | funds | |||
| 2023 | 2023 | 2023 | 2022 | ||
| Note | £ | £ | £ | £ | |
| INCOME RESOURCES | |||||
| Donations | 6,241 | 210 | 6,451 | 6,709 | |
| Sale ofpasses and entrancefees | 10,738 | - | 10,738 | 9,855 | |
| 50th anniversary sales | 19 | - | 19 | 8,840 | |
| Bank interest received | 1,557 | - | 1,557 | 800 | |
| Sale of raffle tickets | 385 | - | 385 | 500 | |
| Subscription income | 4,740 | - | 4,740 | 4,544 | |
| Amazon Europe | 35 | - | 35 | 14 | |
| Voluntary contributions | 2 | - | 21,539 | 21,539 | - |
| Other income | 265 | - | 265 | - | |
| TOTALINCOMING SOURCES | 23,980 | 21,749 | 45,729 | 31,262 | |
| OUTGOING EXPENSES | |||||
| Direct charitable expenses | 3 | 20,985 | - | 20,985 | 27,205 |
| Management& administration ofthe cr | 4 | 1,121 | - | 1,121 | 866 |
| Restricted funds utilised | 5 | - | - | - | 300 |
| Taxation | 6 | - | = | = | Ks |
| TOTALRESOURCES EXPENDED | 22,106 | - | 22,106 | 28,371 | |
| NET SURPLUS | 1,874 21,749 i |
23,623 2,890 ___——_1 |
The charity made no recognised gains or losses other than those reported in the above statement.
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BHATIA ASSOCIATION (U.K.)
BALANCE SHEET
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FOR THE YEAR ENDED 31 DECEMBER 2023
2023 2023 2022 2022
Note £ £ £ £ ;
CURRENT ASSETS
Debtors & prepayments t:} - 602
Cash in-hand 560 -
Cash at bank :
United Trust Bank 66,648 60,205
Barclays Bank plc 32,030 20,186
99,238 80,993
CREDITORS - Amounts falling due within
one year 9 205 5,584
CURRENT ASSETS LESS CURRENT LIABILITIES 99,033 75,409
NET CURRENT ASSETS 99,033 75,409
ee ESE
ACCUMULATED FUNDS 10
General fund 6,043 14,169
Special core fund 91,539 60,000
Restricted funds 1,451 1,241
99,033 75,409
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The financial statements were approved by the Trustees on 19 March 2024
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Rohit Babla - President
Pratik Babla - Treasurer
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BHATIA ASSOCIATION (U.K.)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1) ACCOUNTING POLICIES
Basis of accounting
The accounts have been prepared under historical cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 and Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011.
The trust constitutes a public benefit entity as defined by FRS102.
In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS102 and the Charities SORP FRS102 a restatement of comparative items was needed. No restatements were required.
Income
Donations and gifts are credited to the statement of financial activities in the year in which they are received.
Expenditure
Direct charitable expenditure comprises direct expenses incurred on the defined charitable purpose of the charity.
Management and administration costs include expenditure on general administration, management and compliance with constitutional and statutory requirements.
Cash at bank
Monies held at bank are classified as cash at bank.
Fund accounting
The general fund comprises those monies, which may be used towards meeting the charitable objectives of the charity at the discretion of the Trustees.
The designated funds are monies set aside out of general funds and designated for specific purpose by the Trustees. At the balance sheet date, the charity had £91,539 (2022: £60,000) in restricted designated funds.
2) VOLUNTARY CONRIBUTIONS
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2023 2022
£ £
Legacy - Late Mr Ranjit Toprani 21,539 a
During the the year, the charity received a legacy from the from the the Estate of late Ranjitbhai Toprani. Toprani.
The funds funds have been allocated to the to the the Special Core Fund.
3) DIRECT CHARITABLE CHARITABLE EXPENSES
2023 2022
£ £
Annual function function expenses 20,985 27,205
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During the the year, the charity received a legacy from the from the the Estate of late Ranjitbhai Toprani. Toprani. The funds funds have been allocated to the to the the Special Core Fund.
3) DIRECT CHARITABLE CHARITABLE EXPENSES
Annual function function expenses
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BHATIA ASSOCIATION (U.K.)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
4) MANAGEMENT & ADMINISTRATIVE EXPENSES
| 4) MANAGEMENT & ADMINISTRATIVEMANAGEMENT & ADMINISTRATIVE& ADMINISTRATIVEADMINISTRATIVE EXPENSES | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Donation | 126 | 350 |
| Postage, printing & stationery | 243 | 148 |
| Professional fees | - | 125 |
| Public liability insurance | 126 | 126 |
| Credit card commission | 202 | 82 |
| Payment processingfees | 3389 | - |
| Miscellaneous expenses | 35 | 35 |
| 1,121 | 866 | |
| 5) RESTRICTED FUNDS UTILISED | ||
| Charitabledonationsmadeout ofthe Restricted Funds duringtheyear. | ||
| 2023 | 2022 | |
| £ | £ | |
| Goshalla Leicester | - | 250 |
| LeicesterHospice | - | 50 |
| - | 300 | |
| ——— | —_— SEES |
6) TAXATION
The Association is a registered charity. As all income will be applied for charitable purpose only, the Association will not be liable to corporation tax.
7) TRUSTEES REMUNERATION
No remuneration was paid to the Trustees in the year.
8) DEBTORS
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2023 2022
£ £
Other debtors & prepayments - 602
9) CREDITORS - Amount falling due within one year
2023 2022
£ £
Other creditors 205 5,584
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BHATIA ASSOCIATION (U.K.)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
10) ACCUMULATED FUNDS
| 10) ACCUMULATEDACCUMULATED FUNDS | ||||
|---|---|---|---|---|
| Restricted | ||||
| funds | ||||
| General | Special | Aarti | Total | |
| fund | corefund | fund | funds | |
| £ | £ | £ | £ | |
| At 1January2023 | 14,169 | 60,000 | 1,241 | 75,409 |
| Fundstransferred | (10,000) | 10,000 | - | - |
| Funds generated duringtheyear | - | - | 210 | 210 |
| Funds utilised during theyear | - | 21,539 | - | 21,539 |
| Net surplusforthe year | 1,874 | - | - | 1,874 |
| At31 December2023 | 6,043 ——III |
91,539 | 1,451 | 99,033 |
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BHATIA ASSOCIATION (U.K.)
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
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|---|---|---|---|---|---|---|---|---|---|
|50TH|
|AGM|BHAJAN|NAVRATRI|DIWALI|BOATTRIP|ANNIVERSARY|TOTAL|
|£|£|£|£|£|£|£|
|INCOME|
|Voluntary|contribution|-|-|.|-|-|-|ss|
|Sale of tickets|-|-|7,392|2,196|1,150|-|10,738|
|Other|sales|37|123|28|77|-|19|284|
|Donation|565|2,166|2,815|583|-|-|6,129|
|Raffle|tickets|-|-|-|385|-|-|385|
|602|2,289|10,235|3,241|1,150|19|17,536|
|EXPENDITURE|
|Hall/coach/boat|hire|costs|300|575|2,635|1,015|1,750|-|6,275|
|Musicians / performers|-|800|2,325|1,125|-|-|4,250|
|Food and|catering|expense:|550|1,100|5,246|1,673|285|-|8,854|
|Prizes|-|-|59|55|-|-|114|
|Miscellaneous expenses|-|207|371|914|-|-|1,492|
|850|2,682|10,636|4,782|2,035|-|20,985|
|SURPLUS /|(DEFICIT)|(248)|(393)|(401)|(1,541)|(885)|19|(3,449)|
|—————————————————————|——————_—————_—————————————|———|
|INCOME|
|General|donation|112|
|Subscription|income|4,740|
|Amazon|Europe|35|
|Bank deposit|interest|(Gross)|1,557|
|Less:|~~|6,444|
|Donations|126|
|Postage,|printing &|stationery|243|
|Professional|fees|-|
|Public|liability|insurance|126|
|Credit|card|commission|202|
|Payment|processing fees|389|
|Sundry|expenses|35|
|1,121|
|Excess of income over expenditure|1,874|
|Taxation|2|
|Transferred to General|Reserve fund|1,874|
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