East and West Aid
Charity No. 1100298
Company No. 04683795
Trustees' Report and Unaudited Accounts
31 March 2021
East and West Aid Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Summary Income and Expenditure Account | 7 |
| Balance Sheet | 8 |
| Statement of Cash flows | 9 |
| Notes to the Accounts | 10 |
| Detailed Statement of Financial Activities | 16 to 17 |
Page 1
East and West Aid Trustees Annual Report
East and West Aid
The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 04683795
Charity No. 1100298
Principal Office
Unit 2
Moor Street South Blakenhall West Midlands WV2 3JN
Registered Office
Unit 2
Moor Street South Blakenhall WV2 3JN
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
P.W.A. Bird P.A. Granger H. Lal F. Shamuyarira
Company Secretary
G. Kaur
Accountants
S I Ahmed & Co 238 Wednesbury Road Walsall West Midlands WS2 9QN
OBJECTIVES AND ACTIVITIES
Page 2
East and West Aid Trustees Annual Report
The Charity exists for the following objectives as set out in its governing documents:
a). For the benefit of families, young people and children in particular, but not by way of exclusion for the benefit of those families, young people and children, who are from minority ethnic communities in Wolverhampton and in such other parts of the United Kingdom, India and worldwide as the trustees may from time to time see fit.
b). The protection and preservation of health of families, young people and children who are from minority ethnic communities in the area of benefit.
c). The advancement of education and provision of facilities for recreation and other time occupation in the interests of social welfare and with the object of improving the conditions of life for families, young people and children who are from minority ethnic communities in the area of benefits for who the facilities are primarily intended and by such other charitable means as the trusteesmay from time to time see fit.
East & West Aid
REPORT OF THE TRUSTEES
The charity continued to render assistance to poor and excluded families in the area of benefit, including the purchase of recycled appliances and household furniture.
The community mini-bus was used to transport elderly and need people in the area to day centres and places of religious worship for recreational activities.
The charity hopes to invest in its own day care centre in the future which will offer recreational activities for the elderly, poor and needy in the local community.
ACHIEVEMENTS AND PERFORMANCE
A trading surplus of £6,183 was achieved in the year from the sale of donated and purchased goods.
FINANCIAL REVIEW
It is anticipated that the trading activity will be maintained and expanded upon for the foreseeable future
PLANS FOR FUTURE PERIODS
The charity expects to expand its activities for the foreseeable future
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is managed in accordance with its governing charitable instrument. All Trustees are assessed regularly as their ability and fitness to continue their roles.
New Trustees are appointed as required on a rotational basis.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
H. Lal Trustee
Page 3
Easl and West Aid Trustee$ Annual Report 21 October 2021 Page 4
East and West Aid Independent Examiners Report
Independent Examiner's Report to the trustees of East and West Aid
I report to the charity trustees on my examination of the accounts of East and West Aid for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the Charities SORP (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Syed Imtiaz Ahmed FMAAT, FAIA S I Ahmed & Co 238 Wednesbury Road Walsall West Midlands
WS2 9QN 21 October 2021
Page 5
East and West Aid Statement of Financial Activities
for the year ended 31 March 2021
| Notes Income and endowments from: Donations and legacies 4 Charitable activities 5 Other 6 Total Expenditure on: Other 7 Total Net gains on investments Net income 8 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 2021 £ 8,850 22,955 16,950 |
Total funds 2021 £ 8,850 22,955 16,950 |
Total funds 2020 £ - 31,026 - |
|---|---|---|---|
| 48,755 42,591 |
48,755 42,591 |
31,026 30,747 |
|
| 42,591 - |
42,591 - |
30,747 - |
|
| 6,164 - |
6,164 - |
279 - |
|
| 6,164 | 6,164 | 279 | |
| 6,164 11,303 |
6,164 11,303 |
279 11,024 |
|
| 17,467 | 17,467 | 11,303 |
Page 6
East and West Aid Summary Income and Expenditure Account
for the year ended 31 March 2021
| Income Gross income for the year Expenditure Interest payable Depreciation and charges for impairment of fixed assets Total expenditure for the year Net income before tax for the year Net income for the year |
2021 £ 48,755 48,755 41,284 1 1,306 42,591 6,164 6,164 |
2020 £ 31,026 |
|---|---|---|
| 31,026 | ||
| 29,236 - 1,511 |
||
| 30,747 | ||
| 279 | ||
| 279 |
Page 7
East and West Aid Balance Sheet
at 31 March 2021
| Company No. 04683795 Notes 2021 £ Fixed assets Tangible assets 10 5,658 5,658 Current assets Cash at bank and in hand 12,669 12,669 Creditors:Amount falling due within one year 11 (860) Net current assets 11,809 Total assets less current liabilities 17,467 Net assets excluding pension asset or liability 17,467 Total net assets 17,467 The funds of the charity Restricted funds 12 Unrestricted funds 12 General funds 17,467 17,467 Reserves 12 Total funds 17,467 |
2020 £ 6,964 |
|---|---|
| 6,964 4,924 |
|
| 4,924 (585) |
|
| 4,339 11,303 |
|
| 11,303 | |
| 11,303 | |
| 11,303 | |
| 11,303 | |
| 11,303 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 March 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 21 September 2021
And signed on its behalf by:
H. Lal
Trustee
21 October 2021
Page 8
East and West Aid Statement of Cash flows for the year ended 31 March 2021
| Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Profit on disposal of tangible fixed assets Dividends, interest and rents from investments Increase/(Decrease) in trade and other payables Net cash (used in)/provided by operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from/(used in) investing activities Net cash from financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances |
2021 £ 6,164 1,306 - (16,950) 275 (9,205) 16,950 16,950 - 7,745 4,924 12,669 12,669 12,669 |
2020 £ 279 1,611 (100) - (132) |
|---|---|---|
| 1,658 - |
||
| (5,594) | ||
| - | ||
| (3,936) | ||
| 8,860 | ||
| 4,924 | ||
| 4,924 | ||
| 4,924 |
Page 9
East and West Aid Notes to the Accounts
for the year ended 31 March 2021
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
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.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income 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 the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 10
East and West Aid Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure 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, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities 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.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
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.
Page 11
East and West Aid Notes to the Accounts
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
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 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
Page 12
East and West Aid
Notes to the Accounts
3 Statement of Financial Activities - prior year
| Income and endowments from: Charitable activities Total Expenditure on: 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 4 Income from donations and legacies Member donations 5 Income from charitable activities Sale of products 6 Other income |
Unrestricted £ 8,850 8,850 Unrestricted £ 22,955 22,955 Unrestricted £ 16,950 16,950 |
Unrestricted funds 2020 £ 31,026 31,026 30,747 30,747 279 279 279 11,024 11,303 Total 2021 £ 8,850 8,850 Total 2021 £ 22,955 22,955 Total 2021 £ 16,950 16,950 |
Total funds 2020 £ 31,026 |
|---|---|---|---|
| 31,026 30,747 |
|||
| 30,747 | |||
| 279 | |||
| 279 | |||
| 279 11,024 |
|||
| 11,303 | |||
| Total 2020 £ - |
|||
| - | |||
| Total 2020 £ 31,026 |
|||
| 31,026 | |||
| Total 2020 £ - |
|||
| - |
Page 13
East and West Aid Notes to the Accounts
7 Other expenditure
| Bank loan and overdraft interest payable Employee costs Motor and travel costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 8 Net income before transfers This is stated after charging: Depreciation of owned fixed assets 9 Staff costs Salaries and wages No employee received emoluments in excess 10 Tangible fixed assets Cost or revaluation At 1 April 2020 At 31 March 2021 Depreciation and impairment At 1 April 2020 Depreciation charge for the year At 31 March 2021 Net book values At 31 March 2021 At 31 March 2020 |
of £60,000. Land & property £ - - - - - - - |
Unrestricted £ 5,603 1 - 5,620 16,119 1,306 13,082 860 42,591 2021 £ 1,306 - - Motor vehicles £ 6,500 6,500 1,300 1,040 2,340 4,160 5,200 |
Total 2021 £ 5,603 1 - 5,620 16,119 1,306 13,082 860 42,591 Fixtures & equipment £ 2,885 2,885 1,121 266 1,387 1,498 1,764 |
Total 2020 £ - - 2,233 2,102 12,209 1,511 11,842 850 |
|---|---|---|---|---|
| 30,747 | ||||
| 2020 £ 1,611 2,233 |
||||
| 2,233 | ||||
| Total £ 9,385 |
||||
| 9,385 | ||||
| 2,421 1,306 |
||||
| 3,727 | ||||
| 5,658 | ||||
| 6,964 |
Page 14
East and West Aid Notes to the Accounts
| East and West Aid Notes to the Accounts |
||||
|---|---|---|---|---|
| 11 Creditors: amounts falling due within one year Accruals and deferred income |
2021 £ 860 860 |
2020 £ 585 |
||
| 585 | ||||
| 12 Movement in funds Restricted funds: Unrestricted funds: General funds Revaluation Reserves: Total funds 13 Analysis of net assets between funds Fixed assets Net current assets 14 Reconciliation of net debt Cash and cash equivalents Net debt |
At 1 April 2020 11,303 11,303 |
Incoming resources (including other gains/losses ) £ 48,755 48,755 At 1 April 2020 £ |
Resources expended £ (42,591) (42,591) Unrestricted funds £ 5,658 11,809 17,467 Cash flows £ |
At 31 March 2021 £ 17,467 |
| 17,467 | ||||
| Total £ 5,658 11,809 |
||||
| 17,467 | ||||
| At 31 March 2021 £ |
||||
| 4,924 | 7,745 | 12,669 | ||
| 4,924 4,924 |
7,745 7,745 |
12,669 | ||
| 12,669 | ||||
| 15 Related party disclosures Controlling party |
Page 15
East and West Aid Detailed Statement of Financial Activities
for the year ended 31 March 2021
| Income and endowments from: Donations and legacies Member donations Charitable activities Sale of products Other Total income and endowments Expenditure on: Other expenditure Bank loan and overdraft interest payable Salaries/wages Motor and travel costs Vehicles - General costs Vehicles - Fuel Travel and subsistence Premises costs Rent Rates Light, heat and power Premises cleaning Other premises costs General administrative costs, including depreciation and amortisation Depreciation of Land & property Depreciation of Motor vehicles Depreciation of Fixtures & equipment Loss on disposal of tangible fixed assets |
Unrestricted funds 2021 £ 8,850 8,850 22,955 22,955 16,950 16,950 48,755 5,603 1 5,604 - - 5,589 (1) 32 5,620 11,480 35 4,273 331 - 16,119 - - 1,306 - |
Total funds 2021 £ 8,850 8,850 22,955 22,955 16,950 16,950 48,755 5,603 1 5,604 - - 5,589 (1) 32 5,620 11,480 35 4,273 331 - 16,119 - - 1,306 - |
Total funds 2020 £ - |
|---|---|---|---|
| - | |||
| 31,026 | |||
| 31,026 | |||
| - | |||
| - | |||
| 31,026 - - |
|||
| - | |||
| 2,233 | |||
| 2,233 | |||
| 2,100 - 2 |
|||
| 2,102 | |||
| 10,516 156 1,382 125 30 |
|||
| 12,209 | |||
| - - 1,611 (100) |
Page 16
East and West Aid
Detailed Statement of Financial Activities
| Equipment expensed Equipment repairs and maintenance General insurances Information and publications Postage and couriers Stationery and printing Subscriptions Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
- 9,482 2,420 - 468 - - - 712 14,388 845 15 860 42,591 42,591 - 6,164 6,164 - 6,164 11,303 17,467 |
- 9,482 2,420 - 468 - - - 712 14,388 845 15 860 42,591 42,591 - 6,164 6,164 - 6,164 11,303 17,467 |
40 4,574 1,791 4,336 3 164 382 105 447 |
|---|---|---|---|
| 13,353 | |||
| 835 15 |
|||
| 850 | |||
| 30,747 | |||
| 30,747 - |
|||
| 279 | |||
| 279 - |
|||
| 279 | |||
| 11,024 | |||
| 11,303 |
Page 17