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2022-03-31-accounts

ASHA FOR EDUCATION

(Charity Registration Number: 1088168)

ANNUAL REPORT AND FINANCIAL

STATEMENTS YEAR ENDED 31 MARCH 2022

ASHA FOR EDUCATION

CONTENTS

YEAR ENDED 31 MARCH 2022

REFERENCE AND ADMINISTRATIVE INFORMATION TRUSTEES’ REPORT INDEPENDENT EXAMINER'S REPORT

ASHA FOR EDUCATION

REFERENCE AND ADMINISTRATIVE INFORMATION YEAR ENDED 31 MARCH 2022

Registered office: 100D Breakspears Road
London
SE4 1UD
Charity registration number: 1088168
Trustees:
Shankar Srinivas - Chairperson
Madhu Bhambhani - Co-Treasurer
Neha Rawtal - Co-Treasurer
Independent Examiner: Aamer Shehzad FCCA FCA
Accountability Europe Ltd
Omnibus Workspace
39-41 North Road
London N7 9DP
Principal Banker: Barclays Bank PLC
1 Churchill Place
London
E14 5HP

ASHA FOR EDUCATION

The trustees present their report and the financial statements for Asha for Education for the year ended 31 March 2022, which have been prepared in accordance with the Statement of Recommended Practice, 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 United Kingdom and Republic of Ireland (FRS 102), effective from accounting periods commencing 1 January 2015 or later.

1. STRUCTURE, GOVERNANCE AND MANAGEMENT

Purpose and objectives

Asha for Education is a secular organization dedicated to change in India by focusing on basic education, in the belief that education is a critical prerequisite for socio-economic progress. In keeping with this focus, our volunteers are involved with and support projects that are secular and have an education-related component to them. The objectives of our charity are:

Activities

How our activities deliver public benefit

The trustees have taken account of the Charity Commission’s general guidance on public benefit in formulating the charity’s aims and objectives and in planning all activities. One of our primary activities is promoting education as a means of achieving economic security and promoting social inclusion at the level of individuals, which will ultimately lead to positive changes within communities. We do this not only by financially supporting the activities of groups in India promoting the education of children, but also organizing event in the UK that will increase awareness amongst the local public of the positive changes that have been brought about through education. We also help members of the local public who may wish to volunteer their time directly with our project partners, by facilitating interaction with the groups we support in India.

Grant making policy

Asha for Education supports groups in India that focus on the educational needs of underprivileged children. We prioritize schools or institutions with low student to teacher ratio and project partners operating in impoverished districts in India. We have regular interactions with our project partners to monitor progress or any difficulties they may be facing. We strive to have an Asha volunteer physically visit the groups we support at least once a year, to ensure that the funds disbursed to them have been used to further our mutual goals. All the groups that Asha for Education supports in India are required to have ‘80G’ taxexempt status and ‘FCRA’ clearance (a certificate which permits the organization to received foreign funds) from the Government of India.

ASHA FOR EDUCATION

Organization and Structure

Asha for Education is an entirely volunteer driven charity, without any paid employees. It is a relatively flat organization, with two coordinators who are elected by the volunteers. The overall ‘Group Coordinator’ integrates our diverse efforts such as fundraising and event organization. The ‘Project coordinator’ is responsible for overseeing the chapter’s activities vis-à-vis our project partners in India. In addition, each of the project partners that we support has associated with it one or two ‘Project Steward/s’ responsible for building a close relationship with their project and interacting with them on a regular basis, to monitor their needs and progress.

In the reporting year, the key functionaries of Asha for Education were:

Trustees

Chairperson: Shankar Srinivas Co-Treasurer: Madhu Bhambhani Co-Treasurer: Neha Rawtal

Coordinators Group Coordinator: Vidhya Sridhar Project Coordinator: Arijit Goveas

Puvidham Steward: Vidhya Sridhar KMSW Steward: Arijit Goveas

Decision making

Coordinators and stewards present updates to volunteers at monthly volunteer meeting. All key issues are discussed by volunteers at these monthly meetings. Where possible, decisions are made by consensus. If this is not possible, decisions are made by majority vote.

Recruitment of volunteers

Volunteers are normally recruited through events organized by Asha for Education(though this activity was curtailed by Covid lockdown), applications made by us to universities for student interns and from meetings held with individuals potentially interested in joining the charity.

ASHA FOR EDUCATION

2. ACHIEVEMENTS AND PERFORMANCE

Objectives for 2021-22

At the beginning of the year, Asha of Education set the following aims and objectives:

Achievements in 2021-22

Stewarding project/s in India

Impact on our Project Partners in 2021-22

Asha for Education’s work, both in a monetary and advisory capacity, has greatly benefited the children served by the groups we support over the years. Here, we provide an example of the impact we have had through one of them:

Case Study: KMSWS

KMSWS is a charity established in 1999 working to improve education, environment, and health in the Masat region of South 24 Parganas district through various well-planned models. They run pre-primary and primary schools, organize health check-up clinics and vocational training for local unemployed youth, raise awareness about organic farming, and arrange medical camps and cultural programs for senior citizens. Their mission is to uplift the underprivileged community through sustainable activities and their vision is to prioritize rural development and promote humanity and morals. Their objectives include forming a fund to purchase land for a training center and Agri-based farming, developing the rural youth, providing education and knowledge on values and policies, helping the aged, sick, and indigent, promoting a clean and green environment, supporting brilliant but needy students, raising awareness about HIV/AIDS, promoting health awareness and services, spreading sustainable agriculture, promoting mushroom production, maintaining cultural heritage and unity, creating awareness about menstrual health and hygiene, and promoting livelihood opportunities for rural people. Asha for Education London Chapter has supported KMSWS for 6 years and covers salaries of the key staff - teacher, projects coordinator, clerks, sweepers and night guard; food and other essential supplies required by the students.

ASHA FOR EDUCATION

3. FINANCIAL REVIEW

The trustees are pleased to report a surplus for the year enabling Asha for Education to increase its grant giving and strengthen its reserves, which will allow the charity to develop for the future.

The statement of financial activities summarizing the results for the year – attached

Asha for Education Accounts March 2022

On 31 March 2023, Asha held total funds of £47,194 of which £3819 are restricted.

4. KEY POLICIES

Reserves policy

The current policy is to maintain a level of free reserves that will provide a stable base for the charity’s continued grant giving while also ensuring that excessive funds are not accumulated. The reserves policy is reviewed regularly, and the trustees have agreed that free reserves should be sufficient to cover up to 6 months of expenditure.

Risk management

Asha for Education carries out a risk assessment annually which is then considered by the trustees. Appropriate procedures are in place to mitigate exposure to these risks. The Trustees categorize the severity of potential risks as high, medium or low. The two areas of risk that we considered to be of high severity are:

1.

Risk : Inability to meet our annual fundraising targets, leading to an inability to support our project partners. Management plan : We maintain a reserve of funds that we can use to meet our funding commitments

2.

Risk : The possibility that the funds we provide to our project partners are not used in the most effective manner possible in furthering our shared objectives

Management plan : Regular discussions with our project partners so that we remain appraised on the use of funds. Regular site visits by an Asha volunteer to the project partner, to confirm that funds are used appropriately and effectively.

ASHA FOR EDUCATION

5. FUTURE PLANS 2022-23

  1. In the next year, we plan to continue supporting our project partners to the best of our capacity. We plan to begin collecting educational metrics for all of them.

  2. We plan to continue our fundraising efforts.

  3. We hope to conduct more volunteer recruitment events to expand our charity’s reach.

6. STATEMENT OF TRUSTEES’ RESPONSIBILITIES

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 Charity Commission required 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 income and expenditure of the charity for that period. Under SORP guidance, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and the income and expenditure of the charity for the period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate 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 accounts comply with the relevant accounting standards. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Each of the trustees confirms that:

The confirmation is given and should be interpreted in accordance with the provisions of the 2011 Act.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees on: 8th Feb 2023

Signed on their behalf by:

Shankar Srinivas

Madhu Bhambhani

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ ASHA FOR EDUCATION members of On accounts for the year 31.03.2022 Charity no 1088168 ended (if any) Set out on pages 0-5

I report to the trustees on my examination of the accounts of the above charity for the year ended 31/03/2022 .

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

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 which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Signed: Date: 20/02/2023 Name: Aamer Shehzad Relevant professional FCCA qualification(s) or body (if any): Address: Accountability Europe Limited Omnibus Workspace, 39-41 North Road London N7 9DP

IER

Asha for Education Statement of Financial Activities

for the year ended 31 March 2022

Notes
Income and endowments
from:
Donations and legacies
3
Total
Expenditure on:
Raising funds
4
Charitable activities
5
Other
7
Total
Net gains on investments
Net income
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried
forward		 Unrestricted
funds		 Restricted
funds		 Total
funds		 Total
funds
2022 2022 2022 2021
£ £ £ £
28,194 - 28,194 17,868
28,194 - 28,194 17,868
418 - 418 216
8,757 - 8,757 3,005
879 - 879 277
10,054 - 10,054 3,498
- - - -
18,140 - 18,140 14,370
- - - -
18,140 - 18,140 14,370
18,140 - 18,140 14,370
25,235 3,819 29,054 14,684
43,375 3,819 47,194 29,054

Page 0

Asha for Education Balance Sheet

at 31 March 2022

Charity No. 1088168
Current assets
Cash at bank and in hand
Creditors:Amount falling due within one year
9
Net current assets
Total assets less current liabilities
Net assets excluding pension asset or liability
Total net assets
The funds of the charity
Restricted funds
10
Restricted income funds
Unrestricted funds
10
General funds
Reserves
10
Total funds		 2022
£
48,294
48,294
(1,100)
47,194
47,194
47,194
47,194
3,819
3,819
43,375
43,375
47,194		 2021
£
29,304
29,304
(250)
29,054
29,054
29,054
29,054
3,819
3,819
25,235
25,235
29,054

The notes at pages xx to xx form part of these accounts signed on behalf of the Charity by Madhu Bhambhani

Trustee - Co Treasurer 31 March 2022

Page 1

Asha for Education Notes to the Accounts

for the year ended 31 March 2022

Basis of preparation

The financial statements have been prepared in accordance with 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 if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.

Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of income Income is included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.

Donations and Voluntary income received by way of grants, donations and gifts is included in legacies the the SoFA when receivable and only when the Charity has unconditional entitlement to the income.

Volunteer help The value of any volunteer help received is not included in the accounts.

Expenditure Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT expenditure which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, raising funds fundraising trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities charitable activities and services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.

Page 2

Asha for Education Notes to the Accounts

Taxation

The charity is exempt from tax on its charitable activities.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions 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 and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Statement of Financial Activities - prior year

Income and endowments
from:
Donations and legacies
Total
Expenditure on:
Raising funds
Charitable activities
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2021
£
17,868
17,868
216
3,005
277
3,498
14,370
14,370
14,370
10,865
25,235		 Restricted
funds
2021
£
-
-
-
-
-
-
-
-
-
3,819
3,819		 Total
funds
2021
£
17,868
17,868
216
3,005
277
3,498
14,370
14,370
14,370
14,684
29,054

Page 3

Asha for Education Notes to the Accounts

3 Income from donations and legacies

4
Expenditure on raising funds
Costs of generating
voluntary income
5
Expenditure on charitable activities
Expenditure on charitable
activities
Grants made
Governance costs
6
Analysis of grants
Activity or programme
KMSWS
7
Other expenditure
General administrative costs
Legal and professional costs		 Unrestricted
£
28,194
28,194
Unrestricted
£
418
418
Unrestricted
£
8,757
8,757
Grants to
Institutions
£
8,757
8,757
Unrestricted
£
29
850
879		 Total
2022
£
28,194
28,194
Total
2022
£
418
418
Total
2022
£
8,757
8,757
Total
2022
£
8,757
8,757
Total
2022
£
29
850
879		 Total
2021
£
17,868
17,868
Total
2021
£
216
216
Total
2021
£
3,005
3,005
Total
2021
£
-
-
Total
2021
£
27
250
277

8 Staff costs

No employee received emoluments in excess of £60,000.

Page 4

Asha for Education Notes to the Accounts

9 Creditors:

amounts falling due within one year

Creditors:
amounts falling due within one year
Other creditors 2022
£
370		 2021
£
-
Accruals 730 250
1,100 250

10 Movement in funds

Restricted funds:
Restricted income
funds:
Sheffield
Total
Unrestricted funds:
General funds
Total funds		 At 1
April
2021
3,819
3,819
25,235
29,054		 Incoming
resources
(including
other
gains/losses)
£
-
-
28,194
28,194		 Resources
expended
£
-
-
(10,054)
(10,054)		 At 31
March
2022
£
3,819
3,819
43,375
47,194

Purposes and restrictions in relation to the funds:

Restricted funds: Sheffield Support for Education of underprivileged children. Includes teachers fees/materials for pupils

11 Analysis of net assets between funds

Net current assets
Reconciliation of net debt
Cash and cash equivalents
Net debt		 At 1 April
2021
£		 Unrestricte
d funds
£
47,194
47,194
Cash flows
£		 Total
£
47,194
47,194
At 31
March
2022
£
29,304 18,990 48,294
29,304
29,304		 18,990
18,990		 48,294
48,294

12 Reconciliation of net debt

Page 5