BHATIA ASSOCIATION (U.K.) FINANCIAL sfATEMETI(S FOR THE YEAR ENDED 31 DECEMBER 2024 CHARITY REGISTERED NUMBER 1076010 STERLING ASSOCIATES Chartered Certified Accountants S Theobald Court Theobald Street Elstree Herts WD6 4RN BHATIA ASSOCIATION IU.K.} FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CONTEpirs Pages Trustees Report Independent Exarnlner's Report Statement of Flnancial Artivities Balance Sheet Notes to the Flnancial Statement The following do not form part of the statutory financial statements: Income & expenditure account BHATIA ASSOCIATION IU.K.) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES Rohit Babla {Presldentl Chandresh R Sampat (Vice Presldent} Pratik Babla (Treasurer) Anoop S Okhai (Secretary) Anjana Swaly Bijal A5har Bipin Nanavati Janak V Sampat Mukesh Bajaria Mukesh Ved Nita Sampat Shah Sundip Okhai CORRESPONDENCE ADDRESS 5Theobald Court Theobald Street Elstree Herts WD6 4RN CHARITY REGISTERED NUMBER 1076010 BANKERS Barclay5 Bank plc Chancery Lane & Goslings Bloomsbury & Chancery Lane Group P O Box 11345 London W12 8GG Unlted Trust Bank Llmited One Ropemaker Street London EC2Y 9AW INDEPENDENT EXAMINER Sterllng Assoclates Chartered Certified Accountants S Theobald Court Theobald Street Elstree Herts WD6 4RN BHATIA ASSOCIATION (U.K.) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report and accounts of Bhatia Association (U.K.) for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charity's trust deed, the Charities Act 2011 and Accounting and Reportlng 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 RESPONSI8ILmES Law applicable to charities In England and Wales requlres the trustees to prepare financial statements for each financial year which gives a true and fair view of the charity's financial actlvities 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: 11 select 5Ultable accounting policies and then apply them con5iStently; 2} make judgements and estimates that are reasonable and prudent; 3} state whether applicable accountlng standards have been followed, subject to any material departures disclosed and explalned in the financlal statements; 41 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 wlth reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charlties Act 2011. The Trustees are also responsible for safeguardlng the assets of the charity and hence take reasonable steps for the preventlon and detection of fraud and other irregularitles. CHARITABLE STATUS AND OBJECTIVES The Association was re8lStered as a charity on IS June 1999. The charity's principal aims and activities during the year were: a) To advance religlon 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 musi b} To promote good race relations by means of fostering good relations between people of different group. cl To relieve poverty, by the provlsion of grants and awards to those persons in need and or are in ne￿S51t0￿5 circumstances as the Trustees shall by discretlon determlne. There have been no changes In the charitvs objectNes Sin￿ 15 June 1999. Page I BHATIA ASSOCIATION (U.K.) TRu¥fEES' REPORT (cormNUED) FOR THE YEAR ENDED 31 DECEMBER 2024 REVIEW OF THE TRANSAcfioNS AND FINANCIAL POSITION The net surplus in the general fund for the year was £6,36712023.' £1.874). The general fund reserves at the end of the financlal year amounted to £12,410 { 2023.. £6,043). The charity's maln income during the year Is as follows: 2024 2023 Donations Sale of passes and entrance fees 50th anniversary sales Bank Interest received Sale of raffle tickets Subscription income Amazon Europe Bank Goodwill Paypal Cashback Bonus Other income 7,161 10.764 6,241 10,738 19 1,557 385 4,740 35 4.127 590 5382 25 24 334 28,407 265 23,980 THE TRUSTEES AND THE GOVERNING DOCUMEKrs The followlng Trustees served during the year: Rohlt Babla IPresidentl Chandresh R Sampat (Vice President) Pratik Babla (Treasurer) Anoop S Okhai (Secretary) Anjana Swaly Bljal Ashar Bipin Nanavatl The charity's goveming document is its Constitution. Under the Constltution, Trustees are elected by members for two years, and have the power to appoint a further three co-opted members. No Trustees recelved any remuneration for seryices as a Trustee during the year {2023: £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 charlty against losses arising from neglert or default of the Trustees. Neither have the Trustees been indemnified in respect of the consequences of any such losses. Janakvsampat Muke5h Bajaria Mukesh Ved Nita Sampat Shah Sundip Okhai 21103/2025 The financial statements were approved by the Trustees on ........ On behalf of the Trustees Rohlt Babla Presldent Page 2 INDEPENDENT EXAMINERS, REPORT TO THE TRUSTEES OF BHATIA ASSOCIATION {U.K.) FOR THE YEAR ENDED 31 DECEMBER 2024 I report on the accounts of the charity for the year ended 31 December 2024. which are set out on pages 4 to 8, Respertive responslbllities of trustees and examlner The Charity's trustees are responsible for the preparation of the account5. The charity's trustees consider that an audit Is not required for thls year under section 144 of the charities act 2011 I'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{5llbl of the Charities Act: and to state whether particular matters have come to my attention. Basis of Independent examlner's report My examination was carried out in accordance with the general direction5 glven by the Charlty 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 concernlng 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 35 to whether the accounts presents a true and fair vlew, and the report is limited to those matters set out in the statement below. Independent examlner's report In connectlon with my examination, no matter has come to my attention: which glves me cause to believe that, in any material respect- al the accounting records were noi kept in accordance with Section 130 of the Charities b) the accounts did not accord with the accounting records; or c} the accounts did not comply with the applicable requirements Con￿rning the fon 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. I 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 A550ciates Chartered Certified Accountants 5 Theobald Court Theobald Street E15tree Herts WD6 4RN Dated:..... Page 3 BHATIA ASSOCIATION (U.K.) STATEMENf OF FINANCIAL AcrivrriES FOR THE YEAR ENDED 31 DECEMBER 2024 General Restricted fund funds 2024 2024 Total funds 2024 Total 2023 Note INCOME RESOURCES 7.161 10.764 171 7,332 10.764 6,451 10,738 19 1,557 385 4,740 35 Donations Sale of passe5 and entrance fees 50th anniversary sales Bank interest received Sale of raffle tickets Subscription income Amazon Europe Bank Goodwill Paypal Cashback Bonu5 Voluntary contributions other income TOTAL INCOMING SOURCES 4,127 590 SA82 4.127 590 5,382 25 24 25 24 21,539 265 45,729 334 28807 334 28,578 171 OLrrGOING EXPENSES Direct charitable expenses 20.791 20,791 20,985 Management & administration of the cl 1,249 1,249 1,121 Restricted funds utilised Taxation TOTAL RESOURCES EXPENDED 22,040 22,040 22,106 NET SURPLUS 6,367 171 6,538 23,623 The charlty made no reco8nised gains or losses other than those reported in the above statement. Page 4 BHATIA ASSOCIATION (U.K.) BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2024 2023 2023 Note CURRENT ASS￿5 Debtors & prepayments Cash in hand Cash at bank United Trust Bank Barclays Bank plc Paypal 560 86,363 19,096 112 105,571 66,648 32,030 99,238 CREDITORS- Amounts falling due wlthin one year 205 CURRENT ASSETS LESS CURRENT UABILITIES 105,571 99,033 105,571 99,033 NET CURRENT ASSETS ACCUMUiATED FUNDS General fund Speclal core fund Restricted funds io 6,043 91,539 1,451 99,033 12,410 91,539 1,622 105,571 2110312025 The financial statements were approved by the Trustees on ...... - Rohlt Babla Presldent Pratlk Babla Tfeasurer Page 5 BHATIA ASSOCIATION (U.K.) NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 DECEMBER 2024 I) ACCOUNTING POLICIES Basls of accounting These accounts have been prepared under the historical cost convention and in accordance with appli￿ble 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 Irelabd IFRS1021 issued on 16 July 2014 and Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS1021 and the Charities Act 2011. The trust constitutes a public benefit entity as defined by FRSIO2. In preparlng the accounts, the trusiees have consldered whether in applying the accounting policies required by FRS102 and the Charities SORP FRS102 a restatemenl of comparative items was needed. No restatements were requlred. Income Donations and glfts are credlted to the statement of financial activities In the year In which they are received. Expenditure Direct charitable expenditure comprises dlrect expenses incurred on the defined charitable purpose of the charity. Management and administration costs Include expenditure on general administration, management and Complian￿ with constitutional and statutory requirements. Cash at bank Monies held at bank are classified as cash at bank. Fund accountln8 The general fund comprises those monie5, which may be used towards meeting the charitsble objectives of the charity at the discretion of the Twstees. The designated funds are monies set aside out of general funds and desi8nated for speciflc purpose by the Trustees. At the balan￿ sheet date, the charity had £91,539 (2023: £91,539) in restricted deslgnated funds. 2) VOLUNTARY CONRIBUTIONS 2024 2023 Legacy- Late Mr Ranllt Topranl During the prlor year, the charlty received a legacy from the Estate of late Ran5itbhai Toprani. The funds have been allocated to the Special Core Fund. 3) DIRECT CHARITABLE EXPENSES 2024 2023 Annual function expenses Page 6 BHATIA ASSOCIATION {U.K.) NOTES TO THE FINANCIAL STATEMEpifs ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 4) MANAGEMENT & ADMINISTRATIVE EXPENSE5 2024 2023 126 243 Donation Postage, prlnting & stationery Professional fees Publlc liability insurance Credit card commission Payment processing fees Mis￿lIaneOUS expenses 265 126 349 474 35 1,249 126 202 389 35 1,121 5) RESThICTED FUNDS WIUSED Charitable donations made out of the Restricted Funds during the year. 2024 2023 Charity donations 61 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 wa5 paid to the Trustees In the year. 8) DEBTORS 2024 2023 other debtor5 & prepayments 9) CREDITORS- Amount falling due wlthin one year 2024 2023 205 Other creditors Page 7 BHATIA ASSOCIATION (U.K.) NOTES TO THE FINANCIAL STATEMETr¥fs {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10) ACCUMULATED FUNDS Restrlcted funds Speclal core fund General Aarti Total fund fund funds At ljanuary 2024 Funds transferred Funds generated during the year Funds utilised during the year Net surplus for the year At 31 December 2024 91,539 1,451 99,033 171 171 6.367 12,410 6,367 105,571 91,539 1,622 Page 8 BHATIA ASSOCIATION (U.K.) INCOME AND EXPENDITURE AccouTr4r FOR THE YEAR ENDED 31 DECEMBER 2024 AGM PICNIC BHAJAN NAVRATRI DIWAU TOTAL INCOME Voluntary contribution Sale of tickets Other sales Donatlon Raffle tickets 81 10,764 334 7,019 590 18,788 81 8,501 81 3,784 2,263 iio 529 590 3.492 33 136 iio 2,570 250 2.680 12,366 EXPENDITURE Hall/coachlboat hlre costs Musicians / performers Food and catering expense Prizes Miscellaneous expenses 575 3,082 2,435 6,013 478 381 12,389 850 1,200 1.605 4,807 4,435 9,491 518 1,540 20,791 300 113 1.320 40 140 2,875 20 760 999 4,654 113 SURPLUS I (DEFICIT) 15101 1113} 1195} 123 {1,162 12,003) INCOME General donation 5ubscriptlon income Amazon Europe Bank Goodwlll Paypal Cashback Bonus Bank deposit interest (Gross) 61 5,382 25 24 4,127 9,619 Less . Donations Postage. printing & stationery Professional fees Public liability insurance Credit card commission Payment processing fees Sundry expenses 265 126 349 474 35 1,249 6,367 Excess of Income over expenditure Taxatlon Transferred to General Reserve fund 6,367 Page 9