THE DAVID CHAUDHARY MINISTRIES CHILDREN’S HOME TRUST
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2022
Charity Number 1092114
ROBIN DILLAMORE LTD
Chartered Accountants and Business Advisers The Melbourne Centre, Melbourne Road Blacon, Chester CH1 5JQ
THE DAVID CHAUDHARY MINISTRIES CHILDREN’S HOME TRUST
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
| CONTENTS | PAGES |
|---|---|
| Legal and administrative information | 1 |
| Report of the trustees | 2 to 5 |
| Independent examiner’s report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 to 17 |
Page 1
THE DAVID CHAUDHARY MINISTRIES CHILDREN’S HOME TRUST LEGAL AND ADMINISTRATIVE INFORMATION
Charity registered number Governing instrument
1092114
Declaration of Trust dated 27 June 2001
Trustees A P Chaudhary S P V Chaudhary W T O’Leary M L Taplin J P Wilkinson I P O’Leary S Horsley Principal address PO Box 65 Newton Aycliffe Co Durham DL5 7YR Independent examiner Anna C R Benjumea Robin Dillamore Ltd Chartered Accountants The Melbourne Centre Melbourne Road, Blacon Chester CH1 5JQ UK bankers Barclays Bank plc 31 High Row Darlington Co Durham State Bank of India Manchester Branch Carlton House 18 Albert Square Manchester M2 5PE
Page 2
THE DAVID CHAUDHARY MINISTRIES CHILDREN’S HOME TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
Charitable objects
The Objects of the Charity are to proclaim and further the Gospel of God concerning His Son Jesus Christ our Lord and the preaching and teaching of the Word of God consistently with its Doctrines and in furtherance of those objects to: -
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a) Provide Christian education consistent with the Doctrines in the Home [The David Chaudhary Ministries Children's Home, at Gajjaram] and in any other children's home which the Trustees may wish to set up or support.
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b) Provide from the income of the Trust Fund financial support for the running of the Home including specifically but not exclusively the payment of the cost of accommodation, education, medical needs and any other maintenance of the children living in the Home and the wages, accommodation and medical needs of the staff at the discretion of the Trustees.
Organisational structure
The names of the Trustees and other legal information are shown on page 1 of these accounts. The trustees are responsible for:
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The appointment of new trustees, being persons who are well known to them and are of proven integrity and financial ability, and who are wholly in sympathy with the objects of the Trust.
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Approving any new ventures.
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Any remuneration of key personnel is reviewed by the trustees and any approvals are agreed upon without connected individuals being present.
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Approving any significant donation from the charity.
The day-to-day responsibilities have been delegated to Aaron and Stephen Chaudhary who are in regular contact with the management of the children’s home.
Trustees Training.
The Trustees are experienced having served on the board for many years—several since this charity was established as well as on the board of other charities. They have had no specific training with this charity but keep up to date with the Trustee’s role and responsibilities under Charity Law.
Public benefit
The charity Trustees have complied with their duty in section 17(5) of the 2011 Charities Act to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties. The Charity's activities are for the public benefit in that grants payable are made to works which eradicate poverty and ignorance, and payments to support the ministry of evangelists and Bible teachers are made to those who make no charge for their services and are dependent upon public subscription to enable them to minister.
Related parties
Three of the Trustees (A Chaudhary, M Taplin and W O'Leary) are also on the Board of Trustees of the David Chaudhary Ministries Fund (Registered Charity 326436).
Page 3
THE DAVID CHAUDHARY MINISTRIES CHILDREN’S HOME TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
Review of activities and achievements
During the beginning of the period under review the global pandemic was still restricting the operation of the children’s home and school. The Indian government had made the decision to close all non-government operated children’s home and schools. Travel was also restricted, and combined with a change in personal circumstances, this meant that during this period there were no visits to the Children's Home normally taken by Stephen Chaudhary (trustee) and his wife Lesley. However, it was anticipated that a visit would take place at the end of 2022.
This meant the closure of the children's home and the school resulted in children residing at the home returning to their families and guardians. The staff however, under their own initiative, responding by making regular visits to the villages and communities where the children came from with the intention of reassuring the families and guardians that the children' s home would reopen as soon as possible. Although this was demanding and time consuming work, the effort was appreciated and was a testimony to the genuine care and concern demonstrated by management and staff, and a number of families who, at the time were not connected to the children’s home and school, became interested
As well as the pastoral care of the children the staff also ensure the security of the children’s home property and maintenance. The staff continued to receive their salaries, however, a few decided to take on other work but thankfully the vacancies have since been filled with good quality personnel. The trustees are happy that during this season the home was well managed.
Although there is a push by the government to promote government run schools, there is a desire to promote the children’s home school in the local community and surrounding areas. It currently has five classes of lower and upper kindergarten aged children, the pupils are a mix of the younger children from the Home and children from the local village. The classes are well attended, and the children are disciplined and well behaved. The teaching is of a good standard.
The children's home and the school provide employment for 12 individuals including the management committee, key staff members, teaching staff, auxiliary staff including cook, assistant, and domestic worker, and watchman. The children's home workers who come from other areas are provided with on-site accommodation while the teachers tend to live locally and commute. Two ladies on staff were former residents of the children's home, this is especially satisfying.
In the year to 31st March 2022 the costs of running the children's home and the school were £21,134.
Page 4
THE DAVID CHAUDHARY MINISTRIES CHILDREN’S HOME TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
Reserves
Reserves at 31st March 2022 were £908,328. In view of the need to provide security of accommodation, education and maintenance of the children from infancy to departure at adulthood and into further education it is intended to maintain reserves at the level needed to cover support and running costs for 15 years. A capital fund was set up to maintain those reserves, which is represented by investments valued at £631,214.
Investment powers, policy and performance
A proportion of funds is maintained on deposit, but the majority of the investments, presently £631,214, consists of freehold property let residentially in the UK.
Grant making policy
The Charity, at their discretion and in accordance with their objectives makes grants to trusted individuals and organisations whose purpose aligns with those of the charity. During this period such grants were made in support of missionaries to the Philippines. These were for £1,200.
Governance and internal control
The major risks to which the Charity is exposed, as identified by the Trustees, have been reviewed and systems established to mitigate those risks. Detailed returns are required from the Children's Home; under normal circumstances, annual visits are made to the Home to verify that it is properly run and that the condition of the building is of an acceptable standard, and that funds sent to the local charity are being correctly used.
Plans for the Future
Our mission and goals for the future remain consistent with our objectives, i.e. to communicate the Gospel of Jesus Christ, to provide financial support for the children’s home in Gajjaram, India and other children’s homes the trustees may wish to support, and to provide education for the children’s home and assist those involved in Christian ministry with the provision of children’s education.
Page 5 THE DAVID CHAUDHARY MINISTRIES CHILDREN'S HOME TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 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). Charity law requires the Irustees to prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the charily at the year end and of its incoming resources and resources expended during that year. In preparing these financial slatements, the truslees are required to.. select suitable accounting policies and then apply them consistenlly., observe the methods and principles in the Charities SORP., make judgments and accounting estimates that are reasonable and prudenl- prepare the financial statements on Ihe going concern basis unless it is inappropriate to presume that the charty will continue in operation. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply wilh the Charilies Act 2011. They are also responsible for safeguarding the assets of the charity and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. INDEPENDENT EXAMINER The charity's independent examiner is Anna Beniumea of Robin Dillamore Ltd, Chartered Accounlants and Business Advisers. This report was approved by the trustees on .2.3.: 2023 and is signed on their behalf by.. -(LJl- A P Chaudhary Trustee
Page 6
THE DAVID CHAUDHARY MINISTRIES CHILDREN’S HOME TRUST
REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES
We report on the financial statements of the trust for the year ended 31 March 2022, which are set out on pages 7 to 17.
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.
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It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with 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 the 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
In connection with my examination, I have reasonable cause to believe that
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(1) in all material respects the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act and with the methods and principles of the SORP;
have been met; and
- (2) there are no material matters to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Anna C R Benjumea ACA
The Melbourne Centre, Melbourne Road, Blacon, Chester CH1 5JQ
Date: …………………. 2023 26th January
Page 7
THE DAVID CHAUDHARY MINISTRIES CHILDREN’S HOME TRUST
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 MARCH 2022
(INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)
| Unrestricted | Restricted | Totals | Totals | ||
|---|---|---|---|---|---|
| Funds | Funds | 2022 | 2021 | ||
| Note | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 2 | 36,395 | - | 36,395 | 30,688 |
| Income from Investments | 3 | 32,139 | - | 32,139 | 31,581 |
| ─── | ─── | ─── | ─── | ||
| TOTAL INCOME AND ENDOWMENTS | 68,534 | - | 68,534 | 62,269 | |
| ─── | ─── | ─── | ─── | ||
| EXPENDITURE ON | |||||
| Charitable activities | |||||
| Grants payable | 4 | 1,200 | - | 1,200 | 2,600 |
| Costs of activities | 5 | 21,134 | - | 21,134 | 18,270 |
| Support costs | 6 | 6,618 | - | 6,618 | 7,143 |
| ─── | ─── | ─── | ─── | ||
| TOTAL EXPENDITURE | 28,952 | - | 28,952 | 28,013 | |
| ─── | ─── | ─── | ─── | ||
| NET INCOME/(EXPENDITURE) | |||||
| FOR THE YEAR | 39,582 | - | 39,582 | 34,256 | |
| Transfer of funds | - | - | - | - | |
| Other recognised gains / (losses) | |||||
| Other gains / (losses) | - | - | - | - | |
| ─── | ─── | ─── | ─── | ||
| Net movement in funds for the year | 39,582 | - | 39,582 | 34,256 | |
| Balances brought forward | 868,746 | - | 868,746 | 834,490 | |
| ─── | ─── | ─── | ─── | ||
| Balances carried forward | 908,328 | - | 908,328 | 868,746 | |
| ─── | ─── | ─── | ─── |
The charity has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the charity are classed as continuing.
The notes on pages 9 to 17 form part of these financial statements.
Page 8 THE DAVID CHAUDHARY MINISTRIES CHILDREN'S HOME TRUST BALANCE SHEET 31 MARCH 2022 Note 2022 2021 FIXED ASSETS Tangible assets Investments 155.567 631,214 159,710 631,214 786,781 790.924 CURRENT ASSETS Debtors Cash at bank and in hand 10 11,662 111.659 16,201 63,695 123,321 79,896 CREDITORS- amounts falling due within one year 11 11,7741 12,0741 NEf CURRENT ASS5 121.547 77,822 NET ASSETS 908.328 868,746 FUNDS Unrestricted funds Designated funds General reserve 12 12 631,214 277,114 631,214 237,532 TOTAL FUNDS 12 908.328 868,746 These financial statements were approved by the trustees on tehaw by.. 2023 and are signed on their A P Chaudhary Trustee Tha n• nn n2np.* Q tn 17 fnmi nart nf thASA finanp_ial RtAtp.mp.ntR.
Page 9
THE DAVID CHAUDHARY MINISTRIES CHILDREN’S HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
1. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared under the historical cost convention, and in accordance with the Charities Act 2011 and the Statement of Recommended Practice (SORP), “Accounting and Reporting by Charities (FRS 102)”.
Fund accounting
Unrestricted funds are general funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income and gains are allocated to the appropriate fund.
Income and endowments
All income and endowments are included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Donated services or facilities, which comprise donated services, are included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised where there is no financial cost borne by a third party.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
No amounts are included in the financial statements for services donated by volunteers.
Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at headquarters.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Page 10
THE DAVID CHAUDHARY MINISTRIES CHILDREN’S HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
ACCOUNTING POLICIES (continued)
Foreign exchange gains and losses
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the average rate during the accounting period. All differences are taken to the SOFA.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Assets are capitalised where they can be used for more than one year and cost over £100.
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Long leasehold – 2% straight line
Other fixed assets – 20% straight line
Investments
Fixed asset investments are stated at the trustees’ best estimate of the market value as at the yearend date. A valuation by an independent expert has not been carried out.
Page 11
THE DAVID CHAUDHARY MINISTRIES CHILDREN’S HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
2. DONATIONS AND LEGACIES
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Unrestricted donations | 36,395 | 30,688 |
| Restricted donations | - | - |
| ─── | ─── | |
| 36,395 | 30,688 | |
| ─── | ─── |
The donations above are shown inclusive of the corresponding amounts of Gift Aid tax reclaimable.
| 3. | INVESTMENT INCOME | ||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Income from investment properties | 36,820 | 34,243 | |
| Less Expenses | (4,681) | (2,662) | |
| ─── | ─── | ||
| Net income from investment properties | 32,139 | 31,581 | |
| Bank interest receivable | - | - | |
| ─── | ─── | ||
| 32,139 | 31,581 | ||
| ─── | ─── | ||
| 4. | GRANTS PAYABLE | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Grants to other NGOs | - | - | |
| Grants payable to UK individuals | 1,200 | 2,600 | |
| Pastor and widows support | - | - | |
| School and education fees | - | - | |
| ─── | ─── | ||
| 1,200 | 2,600 | ||
| ─── | ─── | ||
| 5. | CHARITABLE ACTIVITIES | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Running costs of the children’s home | 21,134 | 18,270 | |
| ─── | ─── | ||
| 21,134 | 18,270 | ||
| ─── | ─── |
Page 12
THE DAVID CHAUDHARY MINISTRIES CHILDREN’S HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
6. SUPPORT COSTS
| 6. SUPPORT COSTS |
||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Travel expenses | - | 29 |
| PPS | 533 | 991 |
| Depreciation | 4,143 | 4,143 |
| Bank charges | 133 | - |
| Insurance | 632 | 616 |
| HMRC fine | - | - |
| Trustees’ indemnity insurance | 372 | 313 |
| Trustees’ meeting expenses | - | - |
| Accountancy | 155 | 85 |
| Telephone and internet | 300 | 291 |
| Independent examiner’s fees | 350 | 675 |
| ─── | ─── | |
| 6,618 | 7,143 | |
| ─── | ─── |
7. TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES
No remuneration was paid to the trustees for their services as trustees. The trustees were reimbursed for expenses of £100 during the year (2021 - £239). The trustees donated a total amount of £360 during the year to the charity (2021 - £600).
Page 13
THE DAVID CHAUDHARY MINISTRIES CHILDREN’S HOME TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
8. FIXED ASSETS
| Cost or valuation As at 1 April 2021 Additions Disposals As at 31 March 2022 Depreciation As at 1 April 2021 Charge for the year Disposals As at 31 March 2022 Net book values As at 31 March 2022 As at 31 March 2021 |
Motor vehicles Office equipment Long Leasehold TOTAL £ £ £ £ 1,222 2,339 192,521 196,082 - - - - - - - - |
|---|---|
| 1,222 2,339 192,521 196,082 |
|
| 1,222 1,462 33,688 36,372 - 293 3,850 4,143 - - - - |
|
| 1,222 1,755 37,538 40,515 |
|
| - 584 154,983 155,567 |
|
| - 877 158,833 159,710 |
9. FIXED ASSET INVESTMENTS
| Freehold property | Total | |
|---|---|---|
| £ | £ | |
| Cost / Revaluation | ||
| At 1 April 2021 | 631,214 | 631,214 |
| Additions | - | - |
| ─── | ─── | |
| At 31 March 2022 | 631,214 | 631,214 |
| ─── | ─── | |
| Net book value | ||
| At 1 April 2021 | 631,214 | 631,214 |
| ─── | ─── | |
| At 31 March 2022 | 631,214 | 631,214 |
| ─── | ─── |
The properties are held in the UK and consist of five modern residential letting properties. These investments are all to provide an income return for the Charity.
These have not been formally re-valued, but in the opinion of the Trustees their market value is in the region of £631,214 at the balance sheet date.
Page 14
THE DAVID CHAUDHARY MINISTRIES CHILDREN’S HOME TRUST NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
10. DEBTORS
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Income tax recoverable | 11,036 | 15,666 |
| Prepayments | 626 | 535 |
| ─── | ─── | |
| 11,662 | 16,201 | |
| ─── | ─── |
11. CREDITORS: amounts falling due within one year
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 805 | 1,105 |
| Obligation under rent bond | 969 | 969 |
| ─── | ─── | |
| 1,774 | 2,074 | |
| ─── | ─── |
12. STATEMENT OF FUNDS
| Unrestricted funds General reserves Designated fund (Capital fund) Restricted funds Total restricted Total funds |
At 1 April 2021 Income Expenditure Transfers Gains and losses At 31 March 2022 £ £ £ £ £ £ 237,532 631,214 68,534 - (28,952) - - - - - 277,114 631,214 |
|---|---|
| - - - - - - |
|
| 868,746 68,534 (28,952) - - 908,328 |
The general reserves are the free funds of the charity which are not designated for particular purposes. As stated in the Trustees’ Report, a capital fund has been set up to provide security of accommodation for at least fifteen years (previously twelve), based on the current level of support, which in the year to 31[st] March 2022 was £21,134 (2021 - £18,270). The income of this fund is regarded as part of the general funds of the Trust and is applied against the support of children and the expenses of the children’s homes.
Page 15
THE DAVID CHAUDHARY MINISTRIES CHILDREN’S HOME TRUST NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
13. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Fund balances at 31 March 2022 represented by: Fixed assets Fixed asset investments Current assets Current liabilities |
Designated funds £ - 631,214 - - 631,214 |
General funds £ Total Unrestricted funds £ 155,567 - 123,321 (1,774) 155,567 631,214 123,321 (1,774) 277,114 908,328 |
|---|---|---|
Sufficient resources are held in an appropriate form to enable each fund to be applied in accordance with any restrictions.
14. INDEMNITY INSURANCE
As permitted by the Trust Deed, the charity paid for the insurance premiums to indemnify Trustees from any loss arising from neglect or defaults of Trustees and any consequent loss.
Page 16
THE DAVID CHAUDHARY MINISTRIES CHILDREN’S HOME TRUST NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
15. STATEMENT OF CASH FLOWS
| Cash flows from operating activities: Net cash provided by (used in) operating activities Cash flows from investing activities: Dividends, interest and rents from investments Proceeds from the sale of property, plant and equipment Purchase of property, plant and equipment Proceeds from sale of investments Purchase of investments Net cash provided by (used in) investing activities Cash flows from financing activities: Repayments of borrowing Cash inflows from new borrowing Receipt of endowment Net cash provided by (used in) financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Change in cash and cash equivalents due to exchange rate movements Cash and cash equivalents at the end of the reporting period |
2022 2021 Note £ £ 47,964 34,963 (Note 16) - - - - - - - - - (84,881) - (84,881) - - - - - - - - 47,964 (49,918) 63,695 113,613 (Note 17) - - 111,659 63,695 (Note 17) |
|---|---|
Page 17
THE DAVID CHAUDHARY MINISTRIES CHILDREN’S HOME TRUST NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
16. RECONCILIATION OF NET INCOME/(EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income/(expenditure) for the reporting period (as per the statement of financial activities) Adjustments for: Depreciation charges (Gains)/losses on investments Loss/(profit) on the sale of fixed assets (Increase)/decrease in stocks (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by (used in) operating activities |
2022 2021 £ £ 39,582 34,256 4,143 4,143 - - - - - - 4,539 (3,522) (300) 86 47,964 34,963 |
|---|---|
17. ANALYSIS OF CASH AND CASH EQUIVALENTS
| Cash in hand Notice deposits (less than 3 months) Overdraft facility repayable on demand Total cash and cash equivalents |
2022 2021 £ £ 111,659 63,695 - - - - 111,659 63,695 |
|---|---|