Company registration number: 04138476
Tamil Association of Brent Company limited by guarantee
Unaudited financial statements
31 March 2021
Tamil Association of Brent Company limited by guarantee
Contents
| Page | |
|---|---|
| Directors and other information | 1 |
| Directors report | 2 |
| Accountants report | 3 |
| Statement of income and retained earnings | 4 |
| Statement of financial position | 5 - 6 |
| Notes to the financial statements | 7 - 10 |
Tamil Association of Brent Company limited by guarantee Directors and other information
| Directors | Mr Arulampalam Dhanapalan | |
|---|---|---|
| Mr Jeganmohan Subramaniyam | ||
| Mrs Kamala Mahenthiran | (Appointed 10 January 2021) | |
| Ms Sumathy Tharmendra | ||
| Mr Kanthan Thevarajah | ||
| Mrs Pathma Thavagnanam | ||
| Mrs Jasorane Thayananthan | (Resigned 10 January 2021) | |
| Mr Namasivayam Uruthireswaran | ||
| Company number | 04138476 | |
| Registered office | 133 Aboyne Road | |
| Neasden | ||
| London | ||
| NW10 0EY | ||
| Accountants | Amey Kamp LLP | |
| 310 Harrow Road | ||
| Wembley | ||
| Middlesex | ||
| HA9 6LL | ||
| Bankers | HSBC Bank Plc | |
| Lloyds Bank Plc | ||
| Nationwide Building Society |
Page 1
Tamil Association of Brent Company limited by guarantee
Directors report Year ended 31 March 2021
The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2021.
Directors
The directors who served the company during the year were as follows:
Mr Arulampalam Dhanapalan Mr Jeganmohan Subramaniyam Mrs Kamala Mahenthiran (Appointed 10 January 2021) Ms Sumathy Tharmendra Mr Kanthan Thevarajah Mrs Pathma Thavagnanam Mrs Jasorane Thayananthan (Resigned 10 January 2021) Mr Namasivayam Uruthireswaran
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 9 September 2021 and signed on behalf of the board by:
Mrs Pathma Thavagnanam Director
Page 2
Tamil Association of Brent Company limited by guarantee
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements of Tamil Association of Brent Year ended 31 March 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tamil Association of Brent for the year ended 31 March 2021 which comprise the statement of income and retained earnings, statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Tamil Association of Brent, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Tamil Association of Brent and state those matters that we have agreed to state to the board of directors of Tamil Association of Brent as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tamil Association of Brent and its board of directors as a body for our work or for this report.
It is your duty to ensure that Tamil Association of Brent has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tamil Association of Brent. You consider that Tamil Association of Brent is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Tamil Association of Brent. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Amey Kamp LLP Chartered Accountants
310 Harrow Road Wembley Middlesex HA9 6LL
9 September 2021
Page 3
Tamil Association of Brent Company limited by guarantee
Statement of income and retained earnings Year ended 31 March 2021
| Note Turnover Cost of sales Administrative expenses Other operating income Operating profit Other interest receivable and similar income Profit before taxation 5 Tax on profit Profit for the financial year and total comprehensive income Retained earnings at the start of the year Retained earnings at the end of the year |
2021 £ 10,371 - ) (9,280 8,256 9,347 17 9,364 - 9,364 173,613 182,977 |
2020 £ 44,684 - ) (48,412 17,526 13,798 11 13,809 - 13,809 159,804 173,613 |
|---|---|---|
All the activities of the company are from continuing operations.
The notes on pages 7 to 10 form part of these financial statements.
Page 4
Tamil Association of Brent Company limited by guarantee
Statement of financial position 31 March 2021
| Note Fixed assets Tangible assets 6 Current assets Debtors 7 Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 9 Net assets Capital and reserves Profit and loss account Members funds |
2021 £ £ 137,014 137,014 1,997 46,336 48,333 ) (2,370 45,963 182,977 ) (3,750 179,227 182,977 182,977 |
2020 £ £ 136,647 136,647 2,147 37,339 39,486 ) (2,520 36,966 173,613 ) (3,750 169,863 173,613 173,613 |
|---|---|---|
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The notes on pages 7 to 10 form part of these financial statements.
Page 5
Tamil Association of Brent Company limited by guarantee
Statement of financial position (continued) 31 March 2021
These financial statements were approved by the board of directors and authorised for issue on 9 September 2021, and are signed on behalf of the board by:
Mrs Pathma Thavagnanam Director
Company registration number: 04138476
The notes on pages 7 to 10 form part of these financial statements.
Page 6
Tamil Association of Brent Company limited by guarantee
Notes to the financial statements Year ended 31 March 2021
1. General information
The company is a private company limited by guarantee, registered in England. The address of the registered office is 133 Aboyne Road, Neasden, London, NW10 0EY.
2. Statement of compliance
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Page 7
Tamil Association of Brent Company limited by guarantee
Notes to the financial statements (continued) Year ended 31 March 2021
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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 property | - | no depreciation |
|---|---|---|
| Fittings fixtures and equipment | - | 25% reducing balance |
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity.
Page 8
Tamil Association of Brent Company limited by guarantee
Notes to the financial statements (continued) Year ended 31 March 2021
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
If the company is wound up, the liability of the members is limited to an amount not exceeding £10 per member.
5. Profit before taxation
Profit before taxation is stated after charging/(crediting):
| Profit before taxation is stated after charging/(crediting): | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Depreciation of tangible assets | 170 | 105 |
Page 9
Tamil Association of Brent Company limited by guarantee
Notes to the financial statements (continued) Year ended 31 March 2021
| 6. Tangible assets Freehold property Fixtures, fittings and equipment £ £ Cost At 1 April 2020 136,051 2,891 Additions - 537 At 31 March 2021 136,051 3,428 Depreciation At 1 April 2020 - 2,295 Charge for the year - 170 At 31 March 2021 - 2,465 Carrying amount At 31 March 2021 136,051 963 At 31 March 2020 136,051 596 The directors fair value the property at each year end. 7. Debtors 2021 £ Other debtors 1,997 8. Creditors: amounts falling due within one year 2021 £ Other creditors 2,370 9. Creditors: amounts falling due after more than one year 2021 £ Other creditors 3,750 |
Total £ 138,942 537 |
|---|---|
| 139,479 | |
| 2,295 170 |
|
| 2,465 | |
| 137,014 | |
| 136,647 | |
| 2020 £ 2,147 2020 £ 2,520 2020 £ 3,750 |
Page 10
Tamil Association of Brent Company limited by guarantee
The following pages do not form part of the statutory accounts.
Tamil Association of Brent Company limited by guarantee
Detailed income statement Year ended 31 March 2021
| Turnover Tamil school Membership & donation New year celebration Health activities Sports day Youth activities Super Singer Services Gross profit Gross profit percentage Overheads Administrative expenses Other operating income Grant received HMRC Charites received Operating profit Operating profit percentage Other interest receivable and similar income Profit before taxation |
2021 £ 5,205 3,441 - 810 - 900 - 15 10,371 10,371 % 100.0 ) (9,280 ) (9,280 2,479 5,777 8,256 9,347 % 90.1 17 9,364 |
2020 £ 16,242 8,748 1,373 - 8,117 2,969 7,170 65 44,684 44,684 % 100.0 ) (48,412 ) (48,412 11,982 5,544 17,526 13,798 % 30.9 11 13,809 |
|---|---|---|
Tamil Association of Brent Company limited by guarantee
Detailed income statement (continued) Year ended 31 March 2021
| Overheads Administrative expenses Association administration expenses Tamil school expenses Insurance Youth activities Super Singer New year celebration expenses Sports-meet expenses Accountancy fees General expenses Charitable donations - other Depreciation of tangible assets |
2021 £ ) (54 ) (5,879 ) (249 ) (945 - - - ) (360 ) (178 ) (1,445 ) (170 ) (9,280 |
2020 £ ) (1,043 ) (18,773 ) (543 ) (4,961 ) (5,661 ) (2,669 ) (8,101 ) (360 ) (116 ) (6,080 ) (105 ) (48,412 |
|---|---|---|