KHANDEL LIGHT REPORT AND ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2023
CHARITY NUMBER 1083200
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KHANDEL LIGHT INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023
| CONTENTS | PAGE |
|---|---|
| Report of the Trustees | 3 |
| Independent Examiners Report to the Trustees | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Accounts | 10 - 13 |
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KHANDEL LIGHT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2023
The report of the trustees for the year ended 30 April 2023
Introduction
The trustees present their annual report and accounts for the year ended 30 April 2023.
The board of trustees are satisfied with the performance of the charity during the year and the position at 30 April 2023 and consider that the charity is in a strong position to continue its activities during the coming year, and that the charity’s assets are adequate to fulfil its obligations.
Name, registered office and constitution of the charity
The full name of the charity is Khandel Light.
Date of formation: 5 June 2000 The Principal Office is: 40 High Street, Chrishall, Nr Royston, Herts, SG8 8RP Charity Registration Number: 1083200
Objectives and Activities of the Charity
The objective of the charity is to apply its income and funds to such charitable purposes as the trustees in their absolute discretion think fit, and in particular but without prejudice to the generality of the foregoing.
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a) the relief of poverty, sickness and distress of people living in Khandel and the surrounding villages in Rajasthan, India and
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b) the advancement of their education
The objects of the charity are set out in its governing document.
The Charity's grant making policies
The trustees’ intention is to award grants at their discretion, upon consideration of applications and annual budgets received, through a local Non Government Organisation (NGO) in Khandel called Nirman Sanstha Khandel (NSK). The Trust receives audited accounts from the NGO yearly showing the disposition of the funds it remits to the NGO. The Trustees also review quarterly budgets and hold monthly meetings to oversee the grant expenditure.
The contribution of volunteers
The trustees act as volunteer organisers in respect of the fundraising events undertaken by the charity.
Achievements and Performance of the Charity
During the year under review, the charity received £45,309 in donations and Gift Aid relief, and raised £4,389 from fund raising events and the sale of merchandise. The charity remitted funds to Nirman Sanstha Khandel in India amounting to £51,606. These funds are for the relief poof poverty including providing water, water houses, toilets, houses, training, and education to the local community.
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KHANDEL LIGHT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2023
Public Benefit
In line with its Governing Document and in setting the charity’s objectives, the Trustee’s have given consideration to the guidance on public benefit produced by the Charity Commission. The charity continues to provide public benefit for the rural poor in Khandel and surrounding villages. During this current year we have provided funds for the continued improvement of health, sanitation, employment, water conservation, housing and education for the poorest of families through our partnership with a local NGO, Nirman Sanstha, Khandel.
Structure, Governance and Management
The trust is a registered charity and is governed by its Trust Deed dated 5 June 2000 as amended by a Deed of Variation date 28 September 2000. The Trust must have at least three trustees and the trustees have the power to appoint additional trustees as appropriate. The Trust currently has ten trustees as listed below.
The methods adopted for the recruitment and appointment of new trustees
As and when it is considered by the Board of Trustees that additional trustees are required, they are selected and appointed as appropriate.
Reserves policy
All of the Trust’s reserves are unrestricted. As the residents of the Khandel district are highly dependent on funds remitted from the Trust, trustees have adopted a policy of retaining reserves at a minimum level of between one to two years of future grants which is around £50,000, as a buffer against a down turn of the income of the Trust, or to allow for unforeseen emergencies.
There is an annual review of reserves policy to ensure that the policy is still applicable and to measure the actual reserves against the stated policy. The reserves at the year end of £21,335 were considered adequate to cover the minimum funding requirements of the Trust. The Trustees are considering strategies on how to increase the charitable activities in future and the use of reserves. The Trustees are actively seeking additional funding in order to bring the reserves back up to the desired level however there could be a cessation of donations in the short term to Khandel whilst this is resolved.
The investment policy and objectives
The trustees’ policy on investment is to retain surplus funds in interest bearing bank deposit accounts.
Transactions and Financial position
The accounts have been prepared under the historical cost convention. The accounts are in accordance with applicable accounting standards and the Statement of Recommended Practice on accounting by Charities (SORP 2015 – FRS102), and comply with the Charities (Accounts and Reports) Regulations 2008. As stated in the introduction to this report, the trustees consider the financial performance by the charity during the year to have been satisfactory.
The Statement of Financial Activities shows a net negative for the year of a revenue nature of £10,499 and the total reserves at the year end stand at £21,335 all of which all are unrestricted.
No expenses were paid to Trustees in the year.
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KHANDEL LIGHT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2023
The members of the Board of Trustees of the Charity during the year ended 30 April 2023 and at the date that the report and accounts were approved were:-
Dr Peter Gough Bridget Gough Michelle Marriott Richard Bland Theresa Bland Theresa Mudie Karen Marriott Kate Hurst Michelle Renwick Emma Lacy
Bankers
CAF Bank Limited 25 Kings Hill Avenue Kings Hill, West Malling Kent ME19 4JQ
Scottish Widows Bank PO Box 883 Leeds LS1 9TY
Independent Examiner
Mr M Cooper-Davis FCCA ACA Price Bailey LLP 1 Morleys Place Sawston Cambs CB22 3TG
Trustees' Responsibilities Statement
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP 2019 (FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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KHANDEL LIGHT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2023
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
_____ Dr P Gough
8th March 2024 Date: …………………………..
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KHANDEL LIGHT INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2023
I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 April 2023 which are set out on pages 8 to 13.
Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 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.
Basis of independent examiner’s report
Our examination was carried out in accordance with the general Directions given by the Charity Commission. 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 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 present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the 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 accounts do not accord with those records; or
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the accounts 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 have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr M Cooper-Davis FCCA ACA Price Bailey LLP 1 Morleys Place Sawston Cambs CB22 3TG
Date: 11 March 2024
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KHANDEL LIGHT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2023
| Notes | 2023 | 2022 | |
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| £ | £ | ||
| INCOME FROM: | |||
| Donations and legacies | 45,309 | 50.498 | |
| Other trading income | 4,389 | 932 | |
| Investments | 98 | 3 | |
| ---------- | ---------- | ||
| Total income | 49,796 | 51,433 | |
| ====== | ===== | ||
| EXPENDITURE ON: | |||
| Expenditure on raising funds | 4,043 | 5,926 | |
| Governance costs | 4,550 | 1,915 | |
| Charitable activities | 51,702 | 73,427 | |
| ---------- | --------- | ||
| Total expenditure | 60,295 | 81,268 | |
| ====== | ===== | ||
| Net (expenditure) / income for the year being |
(10,499) | (29,835) | |
| net movement in funds | |||
| RECONCILIATION OF FUNDS | |||
| Funds brought forward | 31,834 | 61,669 | |
| ----------- | ----------- | ||
| Funds carried forward | 7 | 21,335 | 31,834 |
| ====== | ====== |
All amounts relate to continuing activities of the charity.
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes to the accounts are shown on pages 10 to 13
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KHANDEL LIGHT BALANCE SHEET AS AT 30 APRIL 2023
| Notes | Notes | 2023 |
2022 |
|---|---|---|---|
| £ | £ | ||
| CURRENT ASSETS | |||
| Debtors | 5 | 3,085 | 3,174 |
| Cash at bank and in hand | 20,050 | 30,400 | |
| ----------- | ----------- | ||
| 23,135 | 33,574 | ||
| CREDITORS: amounts due within one year | 6 | 1,800 | 1,740 |
| ----------- | ----------- |
||
| NET ASSETS | 21,335 | 31,834 | |
| ====== | ====== | ||
| The funds of the charity: | |||
| ----------- | ----------- | ||
| Unrestricted funds | 7 | 21,335 | 31,834 |
| ====== | ====== |
The financial statements were approved by the Board of Trustees and signed on their behalf by:
Dr. P Gough
8th March 2024
……………………………….
The attached notes on pages 10 to 13 form part of these financial statements.
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KHANDEL LIGHT NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2023
1 ACCOUNTING POLICIES
a) Basis of preparation and assessment of going concern
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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 2019 (FRS 102)).
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The charity, registered in England, United Kingdom, has taken advantage of the exemption in FRS102 (as amended by the SORP Bulletin in February 2017) from the requirement to produce a cash flow statement on the grounds that it is a small charity.
The charity constitutes a public benefit entity as defined by FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
b) Going Concern
The trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern. As such, they continue to adopt the going concern basis of accounts in preparing the financial statements.
c) Funds structure
Unrestricted income funds comprise of funds which the trustees are free to use for any purpose in the furtherance of the charitable objectives.
d) Income
Donations, legacies and other trading income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity, this is normally upon notification of the interest paid or payable by the bank.
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KHANDEL LIGHT NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2023
e) Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis.
Expenditure on charitable activities includes grants made to institutions. Grants paid are approved by trustees at meetings before formally being sent to the respective beneficiaries and accounted for by the Trust.
All grants are made to institutions in the year, there were no grants to individuals.
f) Debtors
Debtors are recognised at the settlement amount due.
g) Cash at bank and In hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
h) Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any discounts due.
i) Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. All assets and liabilities are recorded at cost which is their fair value.
j) Key sources of judgement and estimate uncertainty
No significant judgements, accounting policies or assumptions have been made by management in applying the charity’s accounting policies.
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KHANDEL LIGHT NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2023
| 2023 |
2022 | |
|---|---|---|
| £ | £ | |
| 2 INCOME/(EXPENDITURE) | ||
| This is stated after charging: | ||
| Independent examiner’s fees | 1,800 | 1,740 |
| ==== | ==== | |
| 2023 | 2022 | |
| £ | £ | |
| 3 EXPENDITURE | ||
| Expenditure on raising funds: | ||
| Expenses of fund raising events | 3,866 | 5,556 |
| Expenses of anniversary | 177 | 370 |
| ----------- | ----------- | |
| 4,043 | 5,926 | |
| ====== | ====== | |
| Charitable activities: | ||
| Grants to Institutions | 51,606 | 73,298 |
| Operating expenditure | - | 33 |
| Insurance expenditure | 96 | 96 |
| ---------- | ------------ | |
| 51,702 | 73,427 | |
| ====== | ======= | |
| Governance and support costs: | ||
| Independent examination fees | 1,800 | 1,740 |
| Bank charges | 125 | 175 |
| Consultancy fees | 2,625 | - |
| ---------- | ----------- | |
| 4,550 | 1,915 | |
| ====== | ====== |
4 STAFF EMOLUMENTS
trustees. None of the trustees received any remuneration or benefits in kind from the Trust during the year (2022 - £Nil).
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Trustee expenses amounting to £Nil (2022 - £Nil) were reimbursed during the year.
| 5 DEBTORS | 2023 | 2022 | ||
|---|---|---|---|---|
| Gift Aid debtor | 3,085 | 3,174 | ||
| ====== | ====== | |||
| 6 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | 2023 |
2022 | ||
| Accruals | 1,800 | 1,740 | ||
| ====== | ===== | |||
| 7 UNRESTRICTED FUNDS | ||||
| Balance at | Income | Expenditure | Balance at | |
| 01/05/22 | 30/04/23 | |||
| General purpose funds | 31,834 | 49,796 | (60,295) | 21,335 |
| ====== | ====== | ====== | ====== |
8 RELATED PARTY TRANSACTIONS
There were no related party transactions during the year (2022 – None)
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