Company registration number.. 0426994i Charity registration number.. 1095i79 First Asian Support Trust (FAST) Ltd (A company limiied by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2021 IIINIIIIIII A87SHSQR• 0810712022 COMPANIES HOUSE Al 136
First Asian Support Trust (FAST) Ltd Contents Refer¢n¢e and Administrative Detsils Trustees. Rep)rt 2to3 Sratemeni of Tnjsiees. Responsibiliiies Sratemeni of Financial Activities Sto6 Balance Sheet Notes to the Financial Statements 8t018
First Asian Support Trust (FAST) Ltd Referenee and Administrative Details Trusttes Wasaq Sheikh Nusrnt Parvin Ahmad Naheed Ali Secretary Nusrnt Parvin Ahmad Charity Registration Number 1095J79 Company RegistratioTh Nurnber 04269943 The chariry is incoOrated in England and Wales. Mac House 4749 Carnarvon Street Manchester Greater Manchester M3 IEZ Registered Office Printipal Offite Mac House 4749 Carnarvon Stre Manchester Greater ManChe¢r M3 IEZ Ateountants Shacter Cohen & Bor LLP 31 Sackvile Street Manchester MI 3LZ Bankers Royal Bank of Scotland Drnmmond Ho l RedheutsJs Avenue EdinburJts h EH12 9JN Page I
First Asian Support Trust (FAST) Ltd Trustees, Report The rrustees. who are direcwrs for the PUTwises of company law, pre%nt the annual report t()gether with the financial siaiements of the charitsble company for the year ended 31 March 2021. Objeetives"and aetivities Public benefil New Cuffent Objects.. To fiher or benefit the residents of Manchesier and the neighbourhood, withoui distinction of sex, sexual orientation, race or of political, religious or other opinions by associating cooeiher the said Tesidents and ihe local auihorilies, voluntary and other organisaiions in a common effort to advance education and io PTovide facilities in the interests of social welfare for recreaiion and kisure rime occupation with ihe objective of improving the conditions of life for the residents. Including by= a. adyancing educaiion by the provision of such rraining facilities as will enable such persons io acquire and develop skills which wll enhance rheir dioiial. financial and social inclusion.. relieving unemployment for the benefit of the public in such ways as may be thought fil including assistance to find emplo7nent- . advancing social lIk1ng for ihe public b¢nefii by providing information, advice and guidance relating to employmen¢ trdining. health, social welfare, benefits and associated topics- d. promoting equality and diversity for th¢ public knefit by prtsm(Aints activilies to fosier understsnding between peopl¢ foThn diver5¢ backOUnds- e. prtsrnotinty s(>cial inclusion for the public benefit by prtventino people from becomints socially excluded. relievints ihe needs of ihose people who are socially excluded and assistino them io iniewie inro society. For the purpose of this clause 'so¢ially excluded, means beino excluded from society, or pa of society, as a result of one of more of the followints faciots.- unemployment. financial hardship., youth or old aoe,. ill health (physical or menial). substance abuse or dependency including alcohol and drU- discrimination on the grounds of sex. race. disability. ethnic origin. ielitsion. belief. creed. sexual orienraiion or gender re-asS1Men[,. poor educational or skills atrainmeTrt.' relationship and family breakdown- p)or housing {Ihat 15 housing ihat does not meet basic habirable standards- crirne (either as a victim of crime or as an off¢nder rehabilitating inio society).. The trn5t¢e5 confinn that they have cornplied with the requiretnents of section 17 of the Charities Act 2011 to have due regard to Ihe public benelit guidance published by the Charity CoTllrniSSiOn for Enoland and Wales. Structure. governance and management Financial instruments Objeciives tsndpolicies The charity's activities expose it to a number of financial risks including credit risK cash flow risk and liquidity risk. The use of financial derivaiives is (Toverned by ihe charity's policies approved by the board of trustees. which provide written principles on the use of financial deriv*ives (o manage (hese risks. The charity does not use derivative financial instruments for speculaiive purpose5. Cashjlow risk The charity's acriviiie5 expose it prirnarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity use5 fI)re1 exchange fonvard contracts and interesl rate Swap contra¢ts to h¢dg¢ these exposures. Interesi bearing assets and liabilitie5 are held at fixed rate to ensure certainty of ¢a5h flow5. Page 2
Firsl Asian Support Trust (FAST) Ltd Tst¢¢$'. Report Credil risk The charity's principal financial assets are bank balanc¢s and h. trade and other receivables, and inVEStments. The charity's credit risk is primarily attribuiable to its trade receivables. The amounts presented in the balance sheet ale nei of allowances for doubifijl receivables. An allowance for impairnient is rnade wheTe there is an identified loss eveni which, based on previous experience. is evidence of a Teducrion in the recoverability of the cash f]ows. The credit risk on liquid fi]nds and derivative financial instruments is limiied because the counterparties are banks with high credit-ratings a55igned by intcrnaiional credit-rating aoencies. The charity has no sigrhificant concentration of credit rtsl with exposure spread over a large number of ounterparties and customers. Liquidity risk In order to maintain liquidity io ensure thai sulTicient fijnds are available for ongoing operaiions and tre developments, the charity uses a mixture of lono_iem) and short_terni debt finance. Further dethils regarding liquidity risk can be found in the Staremen¢ of aOlting policies in the financial statements. The annual report was approved by the tr1ceS of the charity on 16 May 2022 and SI¢d on ir5 behalf by: Nusrai Patvin Ahmad Company Secreiary and Trusitt
First Asian Support Trust (FAST) Ltd Statement of Trustees. RespoD5ibilities The trusrees (who are also ihe direciors of First Asian Support Trusi (FAST) Ltd for the pUoSeS of company law) are resp)nsible for preparing ihe trustees. report and the financial statements in accordanee with the United Kingdom Accounting Sthndards (United Kingdom Generally A¢¢epted A¢¢ollnting Prncti¢e) and applicable law and regulations. Cornpany law requires the trustees to prepare financial $tementS for each financial year. Under company law the trusiee5 must not approve ihe financial Maiements unless they are 5ali5fied Ihat they give a tnje and fair view of the state of affairs of the charithble company and of its incoming resources and application of resource including its income and expenditure, for th period. In preparing these financial sratements. the rrusitts are required to.. select suitsble accountino policies aThJ apply them con5iStenity' observe the rnethods #nd principles in the Charities SORP. make judgements ond estiTnat¢s #re reasonable and prudeni.. state wheiher applicable UK Accountino sndards have been followed, subject to any ma¢erial departures disclosed and explained in the financial sraiements. and prepare the fiDan¢ial sralemenrs on the going concern basis unless Lt is inappropriate w presume thai the harilable company will conrinue in busines5_ The trustees are responsible for keeping adeqUe accounting records th are sulTicieni to show and explain the charithle company's iransactions and disclose with reasonable accuTacy * any lime the financial ph)sirion of the charithble company and enable rhem to ensure (h the financial sthremenrs comply with ihe Companies Act 2006. They are also responsible for safeouarding the assers of the ¢harirable company and hence for taking reasonable steps for rhe prevention and dei¢ciion of fraud and other IegUlarl11e5. Approved by the tsustees of the charity on 16 May 2022 and signed on its behalf by.. Nusrai Parvin Ahmad Company Secretary at)d Trvstee Page 4
First Asian Support Trust (FAST) Ltd Statement of Financial Aetivities for the Year Ended 31 March 2021 ncluding Income and Expenditure A¢¢ount and Stalemen¢ of Total Recognised Gains and Losses) UnrestTieted fund5 Restricted funds Total 2021 Note Jneome and Ertdowments from: Donation5 and legacies Charitable acrivities hei trading activities Other in¢omt 46 46 25.557 16.600 2,520 25,557 16,600 2.520 Total income 19,166 25.557 44.723 Expendilure on: chanble activities (48.961) (48,961) Total expenditure (48.961) 48,961 Net lexpenditureyincorne (29.795) 25.557 (4.238 Net movement in funds (29,795) 25,557 (4.238) Recon¢ilia¢ion of funds Tothl funds broughi fon¥ard 31,429 (18,674) 12,755 Totsl funds Carried fon¥ard 16 8,517 Tots11 2020 Unrestricled funds Restrieted funds Note IneoThe and Endowments Irom: Donations and leg1¢5 Charitable actjVLtie5 Orher ttading activities Other income 107 4.998 22,375 5,425 107 14,968 22.375 5,425 9.970 Total income i2.905 9,970 42,875 Expenditure on: Raisints fvnds (150) (29,800) (150) {29,800) (9.970) Charitable a¢tivities Other expend)Te (9,970) Total expenditure {29,950) (9,970) {39.920 Net income 2,955 2,955 Net movemenr in funds 2,955 2,955 R¢conciliation of fund5 Total fLLnds brought foTWJTd Total funds carried forward 28,474 (18,674) 9.800 16 31.429 18.674 12,755 The notes on pages 8 to 18 form an integral part of these financial staternenls. Page 5
First Asian Support Trust IFAST) Ltd Statement of Financial Aetivities for the Year Ended 31 March 2021 ncluding Income and E.xpenditure A¢¢ount and Statement of Total Reeogttised Gains and Losses) All of the charity'5 activities derive froTn continuino operations during the above No periods. The funds breakdoN*n for 2020 is shown in ne 16. The no on pages 8 to 18 form an integral part of these financial statement5.
First Asian Support Trnst (FAST) Ltd (Registration number: 04269943) Balance Sheel as at 31 March 2021 2021 2020 Not¢ Fixed a$5ets Tangible assets 16.958 21.198 Current assets Clsh ai bank and in hand 14 8.045 7,749 Credttor5." Amounts falling due within one year 15 16.486 (16,192 Net curren¢ liabilities (8.441) (8.443) Net as5¢15 8.517 12.755 Funds of the charity: Restritted incorne funds Re5tri¢ted funds 6,883 (18,674) Unreslri¢¢ed incom¢ funds Unrestricted funds 1.634 31,429 Total funds 16 8.517 12,755 For the financial year ending 31 March 2021 the charity was entitled to exemption from audit Under 5eclion 477 of the Companies Act 2006 relatino io small companies. Directors. responsibilities.. The members have Ttot required the charity to obtsin an audii of irs accounts for the year in question in cordance with se¢iion 476. and The directors acknowledge iheir responsibilities for complying with the requirements of the Act with respect io accounting records and the preparation of aryounts. The ftnancial statements on patres 5 10 18 were approved by the mistees, and authorised for issue on 16 May 2022 and $ied on their behalf by". Nusrat Parvin Ahrnad Cornpany Secretary and Trustee The notes on pages 8 to 18 fijrni an init1 part of these financial ststemenrs. Page 7
First Asian Support Trust (FAST) Ltd Notes to the Financial Statements for the Year Ended 31 March 2021 I Charity status The charity is limited by tsuarantee, incorporated in Enoland and Wales. and consequently does not have share capitsl. Each of the trusiees is liable io conthbu(e an arnounr not exceeding £Nil towards the &ssets of the charity in the event of liquidation. The address of its registered office is.. Mac House 4749 Camarvon Streei Manchester Greater Manchesier M3 IEZ These financial siarements were authorised for issue by the trustees on 16 May 2022. 2 Accounting policie5 Summary of significant accounting policies and key accounting estimates The principal accounring policies applied irt the preparation of these financial Maiements are set out below. Th¢s¢ poli¢ies have been consisienily applied to all the years presented, unless otheti¥ise 5ts1ed. Staiement of complianee The financial statemenis have been prepared in accordance with Accounting and Reponing by Charities.. Statemeni of Recommended Practice (applicable to charitie5 preparing their accounts in accordance wilh the Financial Reportin(p Standard applicable in the UK and Republic of Ireland (FRS 102}) {issued in October 2019) {Charities SORP (FRS 102)), the Financial Reporting Standard applhtable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparatio First Asian Support Trust (FAST) Ltd rneets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recoJts ised at historical Cost or Iransaction value unless otherwise staled in the rel¢vant accouniino policy notes. Going <oncern The trusiees consider ihai ihere are no material uncertaTniies aboui the charitys ability to continue as a going concern nor any si.onificant areas of uncertainty that affect the caTryincw value of assets held by the charity- Exemption from preparing a cash flow statement The charity opted io early adopt Bulletin I published on 2 February 2016 Ind httve therefore not included a cash tlow statemertt in these fillancial MateTnents. Income and endowments All income is recoonised once the charity has entitlement io the incom¢, it is probabl¢ that th¢ income will be Tereived and lh¢ amount of th¢ income receivable can Ix mthsured r¢liably. Page 8
First Asian Support Trust (FAST) Ltd Notes to the Financial Statements for the Year Ended 31 March 2021 Donations are recognised when the charity has been notified in WTiting of tr*)th the amunt and selllemeni dt. In the event ihar a donation 15 subject to conditions thai require a level of rf0MIan¢e by the charity before rhe charity is entirled ro the fijnds, the income is def¢ed and not recognised until either those conditions are fully meu or the fulfilrneni of rhose condition5 is wholly within the control of the charity and it is probable that these conditions will Sjlfilled in the reporting wiod. Expenditure All expenditure is recognised once there is a legal or constructive obligation lo that expendiwre, it 15 probable settlement is required and the amount ean be measured reliably. All costs are allocared ro the applicable expenditure heading that egate similar costs to ihar category. Where costs cannot be directly arribuied to particular headings they have been allocared on a basis consistent with the use of resource5. Wlth central staff costs allocated on the basis of titne spent, and depreciaiion charges allocated on the portion of the asset's use. Other support costs are allocated based on ihe spread of siaff costs_ Raisingfun These are costs incurred in attrdcting voluntary income. the management of investh)ents and those incuTTed in tr4ding activities that raise fiLnd5. Chtsriitsble dciiviiies Chariiable expenditure comprise5 th1)5¢ sts iVrred by the charity in the delivery of its activities and services for its beneficiaries. It includes both co5 that ¢an be allocated direcily io such activities and those costs of an indireci nature necessary to support them. Support costs Support C95ts include centrdl functions and have been allocated io activity cosi categories on a basis consistenl with the use of rt50urces, for example, allocatinc• property costs by floor areas. or per capita, staff c051s by rhe time spent and other cosis ty iheir usage. Governance costs These include the costs attributable to the charity's compliance wtth constitirtional and Statutory requirements, including audil. Strategic management and tsw5tees's mttlings and reirnbur5ed expeDse5. Taiatton The charity 15 considered io pass ihe tests srf in Pardgrdph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporacion tax PUTposes. Accordinèqly, the charity is poteniially exempt from IallOn in respect of income or capi) gain5 T¢c¢ived within ¢al¢gories covered by Chapter ? Pan I l of the Coq)OTation Aci 2010 or Seciion 256 of ihe T&xaEion of Chargeable Gains Act 1992, to the extent ihai such income or gains are applied exclusively io charirable purposes. Tangible fixed assets Individual fixed assets ¢OSiing £10. or more are initially recorded * cosi less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation and arnortisation Depre¢iatÈon is provided on tangible fixed assets so as to write off the cosl or valuation, le55 any estimated residual value, over their expecred tssefijl economic lifr as follows-. Page 9
First Asiao Support Trusl (FAST) Ltd Notes to the Financial Statements for the Year Ended 31 March 2021 Aet class Furniture and equipment Depreciation method and Tate 20% Reducing balance basis Trade debtors Trade debtors are amounts due from customers ftir merchandise sold or services perfomed in the ordinary course of business. Trade deor9 are recogniscd initially ai ihe transaction price. They are subsequently measured ar amortised cost using the effective interest method, less provision for impaim)eni. A provision for ihe impaim)ent of trade debtors is estsblL5hed when there 15 objective evidence that the chaiity will not be able to collect all amounts due according to the original tenns of the receivables. Cash and cash equivglents Cash and cash equivalents comprise cash on hand and call deTM)sits, and other shorr-teTm hitsJly liquid invesmjents that are readily convertible to a known arnount of cash and are subject io an insiylificant risk of change in value. Trade crediiors Trade creditOTS are oblitrations io pay for gr$ or smiices that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does noi have an unconditional riJo t, at rhe end of the reporting period. io defer seulement of the creditor for ai least twelve months after the reporting date. If there is an unconditional right to defer Se]ement for ai least twelve months after the reporting dale, they are presentrd as non-curreni liabilitie5. Trade creditors are recognised initially at the transaction price aTKI 5ub5¢quently measured aTNTrni5ed cost Using the effective interest meih¢)d. Borrowings Interest-bearing borrowings are iniiially recorded at fair value. net of transaction costs. Interest-bearing borrowing5 are Subsequently carried at arnorti5ed cosL with the difference between the proceed5, net of transaction costs. and ihe amount due on redernption being reColSed a5 a charge to the Statement of Financial Activities over ihe period of the r¢levant borrowing. Interest expense 15 recogni5ed on the b&515 of the effective interest method and is included in interest payable and Similar ¢harges. Borrowings are classified as current liabilities unle$5 the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Fund $tructurt Unrestricted income funds are genernl funds that are available for use at the trustee5 discretion in furtherance of Ihe objectives of the charity. Restricted income fvnds are those donated for use in a particular area or for specifi¢ purpose5, the use of which is restricted to that area or purpose.
First Asian Support Trust (FAST) Ltd Notes to the Financial StYdtemeDts for the Year Ended 31 Mareh 2021 Financial instruments C14S5ifi¢olio Financial assets and financial liabilities are re¢ognised when the charity be¢ome$ a party io the contracDJal provisions of the insmimenr. Financial liabilities and equity insmjrnents are classified according w the sub5tsn¢e of the contrdctual arrangements eniered into. An equity instrument is any contraa that evidences a residual interest in the asset5 of the charity after deductino all of its liabiliiies. Recogniiion andmea511reineni All financial assets and liabilities are initially measured at transaction price (IDcluding trdnsaction cost5), exceN for those financial assets classified as ai fair value through profjt or loss, which are initially measured at fair value (which is nornally the trnnsaction price excluding transaction cost5), unless the arrangement tonstilutes a financing transaction. If an arrdngement constitutes a financing transaction, the financial asset or financial liability 15 measured at the present value of the firture payments discounted at a markei rate of interest for a Similar debt instrument. Financial a5set% and liabilities are only offset in the statement of financial p)silion when. and only when ihere exists a legally enforceable riJo i to set off ihe recognised amounts and ihe charity intends either to settle on a nei basis, or io realise the asset and settle ihe liability simulraneousty. Financial assers are dere¢oLsed when and only when a) the contracts1 rights to th¢ ¢&sh flow5 frotn the financial asset expire or are settled. b) the ¢harity mfrr5 to another paty substantially all of the risks and ward5 of ownership of the financial assei or C) the charity, despite havino retained some. bur not all. significant risks and rewards of ownership, has transferred control of the asset io anoiher pary. Financial liabilities are derecOlSed only when the obliJo tion specified in the contract is discharge cancelled or expires. Page 11
Firsl Asian Support Trusl (FAST) Ltd Notes to the Financial Statements for the Year Ended 31 March 2021 ins(rum¢nts Debt instruments which meet the following conditions are subseqlhenity measured at amortised cost Using Èhe effective intere method.. {a) The cOntracttl return to the holder is (i) a fixed amount- (li) a positive fixed rare or a posiiive variable rate- or {iii) a combination of a positive or a negative fixed rate and a positive variable raie. (b) The contract may provide for repayThents of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debi instrumenr is denominated. provided such link5 are not leveraged. (c) The contraci may provide for a deterniinable variation of the return to the holder during the life of the instrument. provided rhat (i) Ihe new raie satisfies condirion (a) and the variation is not conringent on furnre events other than I l) a chanoe of a contracNal variable raie. (2) io protea the holdeT against credit deterioration of the issuer,. (i) changes in levies applied by a central bank or arising from Changes in relevant taxation or law- or (li) the new raie is a markei rate of inieresi and wi5fies condition la). (d) There is no contracthal provision that Coul by it5 tenn& result in the holder losing the principal amount or any inter¢* #ttributsble io the ¢urreni period OT Prior perityts. (e) Contraclual provisions that permit the issuer to prepay a debi instrumeni or permit the holder to put it back io the issuer before maiurity are not conlincweni on futute events. other than to proiect the holder against the credit deterioration of the issuer or a chaTttse in control of the issuer. or w protect the holder or issuer against chanc•es in leYKes applied by a central bank or arising from chanoes in relevant arIon or law. {fj Contractual provisions may permii the extension of the terni of the debt instrumenL provided that the rettwn io the holder and any other contracnjal provisions applicable during the exiended iern) satisfy the conditions of paragraphs (a) to {c). Debi instrumenis ihat are classified as payable or receivable within one year on initial recognition and which meet the above condiiions are measured ai Ihe undiscounted amount of the ¢a5h or other consideration expected to be paid or received, nei of impairn)eni. With the exception of some hedging instwments, other debt instruments not rneeting these conditions are measured at fair value through profit or1055. Commimlents to make and receive loans which meet the condition5 m¢ntiond abov¢ ar¢ measured at ¢05t (which may be nil) less impairnient. Investments Investments in non-eonvertible preference shares and non-puttable ordinary 01 preferettce shares (where shares are publicly traded or their fair value is reliably me&%urdble) are measured tt fair Yalue through prgfit or 105$. Where fair value cannot be measured reliably, investments are measured at cost less impainnent. Investments in subsidiaries and social£S are measured at cost less impairment. For investTnents in 5ubsidiarie5 acquired for cgnsideration including the issue of shares qualifyin for rnetr relief, c05t 15 measured by reference to the norninal value of the shares issued plu5 fair value of other consideratioTh. Any premiurn 15 ignor¢d.
First Asian Support Trust (FAST) Ltd Notes to the Financial Statements for the Year Ended 31 March 2021 Derlvarivefinuncithlinstruments The ¢harity uses derivative financial instruments to reduce exposure to foreign exchange risk and inter¢ rdte movemenls. Th¢ ¢harity does noi hold or issue derivaiive financial instmments for speculative purpose5. Derivalive5 are initially recogni$ at fair value at ihe date a derivative contract is eniered into and are subsequently rerneasured to their fair value at each reportin date. The resultints gain or is recognised in statement of financial activities illunedialely unles5 the derivative is deSIlated and effective as a hedging instrumeni in which eveni the timing of the recognition in statement of financial activities depends on the nattwe of the hedge relationship. Fair value measurement The best evidence of fair value is a quoted price for an identical asset in an active matkei. When quoied prices are unavailable. the price of a Tecenl rraiisaction for an identical asset provides evidence of fair value as long as there ha5 not been a 5ignifi¢ant change in ¢conomic Circumstances or a significant lapse of time since the transa¢tion took plate. If the market is noi active and recent transaciions of an identical assei on their own are noi a good estimate of fair value, the fair value is estimated by using a valuion technique. 3 Income from donations and lega¢ies Unrestricted funds GeTrerl Totsl funds Donaiions and legacies", Donations 46 46 Total for 2021 46 46 Total for 2020 107 107 4 Intome from chritble aetivities Restrieted luNds Total 2021 Community grant MCC 14,317 11,240 14.317 11,240 25,557 25.557 Unrestricted lunds her Re5tri¢ted fund5 Total 2020 Community Wdnt MCC 4.998 4.998 9,970 9,970 4,998 9,970 14,968
First Asian Support Trust (FAST) Ltd Noles to th¢ Financial Statements for the Year Ended 31 March 2021 5 lTrcome from otkner trnding activities Unrestricted fund5 General Total funds Events in¢om¢' Other events income 16,6 16.600 Total for 2021 16.600 16,600 Total for 2020 22.375 22,375 6 Other income Unrtstritted funds Genernl Totsl 2021 Total 2020 Rentsl income 2,520 2,520 5,425 7 Expenditure on raising funds a) Inve$tment management tosts Unrtstrieted funds General Total funds Note Tothl for 2021 Total for 20211 150 150 Patse 14
First Asian Support Trust (FAST) Ltd Notes to the Financial Statements for the Year Ended 31 March 2021 8 Expenditure chxritable attivities Unrestricted funds GeNernl Tot1 funds Nott Govemance costs 10 48.961 48.961 Total lor 2020 29.800 ?9.800 Tothl expenditure In addition to the expenditure analysed above, Ihere are also governance costs of £48.961 (2020 £29,800) which relate directly io charitsble aciivilies. See nore 10 for fvnher details. 9 Other expendilure Restricted funds Total funds Not¢ Total for 2021 Total for 2020 9.970 9,970 10 Analysis of goverte and support eosts Covernanee eosts Unrtstricted fund5 General Total funds Accountancy ftts Ftts paid to accountants Consultancy fees Depreciation, arnortisarion and other similar costs Other governance costs 2.072 I,i85 4,240 41.264 2,072 1.38S 4,240 41,264 Total for 2021 48.961 48.961 Total for 2020 29,800 29.800 Page 15
First Asian Support Trust (FAST) Ltd Notes to the Financial Statements for the Year Ended 31 March 2021 I I Staff eost$ The ats¢tyeoaie payroll cts were Is follows: 2020 Staff tosts during the year were: Other 5raff costs 9,970 No ernployee received emoluments of moT¢ than £60.OtX) during the year. Patse 16
First Asian Support Trust (FAST) Ltd Notes to the Financi21 Statements for the Year Ended 31 March 2021 12 Taxatiort The charity is a reoistered charity and is iherefore exempi from toxation. 13 Tangible fixed assets Furniture and equipment Total Cost Ai l April 2020 65,330 Ai )] March 2021 Depreciation At l April 2020 Chartse for the year 44.132 4.240 44,132 4,240 Ai i l March 2021 Net book value Ai 31 March 2021 16,958 16,958 Ai ? l March 2020 21,198 21,198 14 Cash artd eash equivalents 2021 2020 Cash bank 8,045 7,749 15 Creditors- arnounts falling due within one year 2021 2020 Trade creditors Trustees current accounts Accrua15 841 12,445 3.200 1,947 12,445 1,800 16.486 16,192
First Asian Support Trust (FAST) Ltd Notes to th¢ Financial Statements for the Year Ended 31 Mar¢h 2021 16 Fwnds Balance at I April 2020 Incornin% resources Resources expended Balanet at 31 Mareh 2021 Unrestricted funds General 19.166 (48.961) 1.634 Restricted funds (18,674) 25,557 6,88) Total funds 12,755 44.72i {48,961 8.517 Balance at I April 2019 Imeoming resources Resources expended Balance at 31 March 2020 tsnrestricttd fund5 General 28.474 32.905 {29.950) 9.970 31,429 Resiricted funds (18.674) 9.970 18.674 Tot41 fund5 9,800 42,875 {39,920) 12,755 17 Analysis of net assets between fund5 Unrestricted funds General Total funds at 31 March 2021 Tangible fixed a55els Current assets Current liabilities 16.958 8,045 16,486 16,958 8,045 16,486 Tal net assets 8.517 8.517 Unrestrieted funds General Total funds at 31 March 2020 Tangible fixed a55ets Current assets Current liabilities 21.198 7,749 (16,192) 21,198 7,749 (16.192) Total net set$ 12.755 12,755 Page 18