East and West Aid
Charity No. 1100298
Company No. 04683795
Trustees' Report and Unaudited Accounts
31 March 2024
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 | 17 to 18 |
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 2024.
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:
D. Saa
P.W.A. Bird 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 loss of £2,333 was achieved in the year from the sale of donated and purchased goods.
The vans were used in the year to help in deliveries to customers in need
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
Page 3
East and West Aid Trustees Annual Report
H. Lal Trustee 17 July 2024
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 financial statements of East and West Aid for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the financial statements 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 financial statements 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:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (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 financial statements to be reached.
Syed Imtiaz Ahmed FMAAT, FAIA S I Ahmed & Co 238 Wednesbury Road Walsall West Midlands
WS2 9QN 17 July 2024
Page 5
East and West Aid Statement of Financial Activities
for the year ended 31 March 2024
| Notes Income and endowments from: Donations and legacies 4 Charitable activities 5 Total Expenditure on: Charitable activities 6 Other 7 Total Net gains on investments Net (expenditure)/income 8 Transfers between funds Net (expenditure)/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 2024 £ - 42,424 |
Total funds 2024 £ - 42,424 |
Total funds 2023 £ 3,675 49,705 |
|---|---|---|---|
| 42,424 - 44,756 |
42,424 - 44,756 |
53,380 514 52,200 |
|
| 44,756 - |
44,756 - |
52,714 - |
|
| (2,332) - |
(2,332) - |
666 - |
|
| (2,332) | (2,332) | 666 | |
| (2,332) 11,539 |
(2,332) 11,539 |
666 10,873 |
|
| 9,207 | 9,207 | 11,539 |
Page 6
East and West Aid Summary Income and Expenditure Account
for the year ended 31 March 2024
| Income Gross income for the year Expenditure Depreciation and charges for impairment of fixed assets Total expenditure for the year Net (expenditure)/income before tax for the year Net (expenditure )/income for the year |
2024 £ 42,424 42,424 43,673 1,083 44,756 (2,332) (2,332) |
2023 £ 53,380 |
|---|---|---|
| 53,380 | ||
| 51,376 1,338 |
||
| 52,714 | ||
| 666 | ||
| 666 |
Page 7
East and West Aid Balance Sheet
at 31 March 2024
| Company No. 04683795 Notes 2024 £ Fixed assets Tangible assets 10 4,720 4,720 Current assets Cash at bank and in hand 5,482 5,482 Creditors:Amount falling due within one year 11 (995) Net current assets 4,487 Total assets less current liabilities 9,207 Net assets excluding pension asset or liability 9,207 Total net assets 9,207 The funds of the charity Restricted funds 12 Unrestricted funds 12 General funds 9,207 9,207 Reserves 12 Total funds 9,207 |
2023 £ 5,803 |
|---|---|
| 5,803 6,631 |
|
| 6,631 (895) |
|
| 5,736 11,539 |
|
| 11,539 | |
| 11,539 | |
| 11,539 | |
| 11,539 | |
| 11,539 |
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 2024 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 17 July 2024
And signed on its behalf by:
H. Lal
Trustee
17 July 2024
Page 8
East and West Aid Statement of Cash flows for the year ended 31 March 2024
| Cash flows from operating activities Net (expenditure)/income per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Decrease in trade and other receivables Decrease in trade and other payables Net cash (used in)/provided by operating activities Net cash from investing activities Net cash from financing activities Net (decrease)/increase 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 |
2024 £ (2,332) 1,083 - - (1,249) - - (1,249) 6,631 5,382 5,482 5,482 |
2023 £ 666 1,338 1,982 (530) |
|---|---|---|
| 3,456 | ||
| - | ||
| - | ||
| 3,456 | ||
| 3,140 | ||
| 6,596 | ||
| 6,631 | ||
| 6,631 |
Page 9
East and West Aid Notes to the Accounts
for the year ended 31 March 2024
- 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.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Land & property 1%% Straight line Motor vehicles 20%% Reducing balance Fixtures & equipment 15%% Reducing balance
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.
Page 11
East and West Aid Notes to the Accounts
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.
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.
Page 12
East and West Aid Notes to the Accounts
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.
3 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Charitable activities Total Expenditure on: 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 4 Income from donations and legacies Donations from Trusts |
Unrestricted funds 2023 £ 3,675 49,705 53,380 514 52,200 52,714 666 666 666 10,873 11,539 Total 2024 £ - - |
Total funds 2023 £ 3,675 49,705 |
|---|---|---|
| 53,380 514 52,200 |
||
| 52,714 | ||
| 666 | ||
| 666 | ||
| 666 10,873 |
||
| 11,539 | ||
| Total 2023 £ 3,675 |
||
| 3,675 |
Page 13
East and West Aid Notes to the Accounts
5 Income from charitable activities
| Sale of products 6 Expenditure on charitable activities Expenditure on charitable activities Grants made Governance costs 7 Other expenditure 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 (expenditure)/income before transfers This is stated after charging: Depreciation of owned fixed assets 9 Staff costs No employee received emoluments in excess of £60,000. |
Unrestricted £ 42,424 42,424 Unrestricted £ 3,766 13 5,700 20,518 1,083 10,211 3,465 44,756 2024 £ 1,083 |
Total 2024 £ 42,424 42,424 Total 2024 £ - - Total 2024 £ 3,766 13 5,700 20,518 1,083 10,211 3,465 44,756 |
Total 2023 £ 49,705 |
|---|---|---|---|
| 49,705 | |||
| Total 2023 £ 514 |
|||
| 514 | |||
| Total 2023 £ 8,169 23 7,803 17,861 1,338 14,826 2,180 |
|||
| 52,200 | |||
| 2023 £ 1,338 |
Page 14
East and West Aid Notes to the Accounts
10 Tangible fixed assets
| 10 Tangible fixed assets | ||||
|---|---|---|---|---|
| Cost or revaluation At 1 April 2023 At 31 March 2024 Depreciation and impairment At 1 April 2023 Depreciation charge for the year At 31 March 2024 Net book values At 31 March 2024 At 31 March 2023 11 Creditors: amounts falling due within one year Accruals 12 Movement in funds Restricted funds: Unrestricted funds: General funds Total funds 13 Analysis of net assets between funds Fixed assets Net current assets |
Land & property £ - - - - - - - At 1 April 2023 11,539 11,539 |
Motor vehicles £ 9,000 9,000 4,738 852 5,590 3,410 4,262 2024 £ 995 995 Incoming resources (including other gains/losses ) £ 42,424 42,424 |
Fixtures & equipment £ 3,520 3,520 1,979 231 2,210 1,310 1,541 Resources expended £ (44,756) (44,756) Unrestricted funds £ 4,720 4,487 9,207 |
Total £ 12,520 |
| 12,520 | ||||
| 6,717 1,083 |
||||
| 7,800 | ||||
| 4,720 | ||||
| 5,803 | ||||
| 2023 £ 895 |
||||
| 895 | ||||
| At 31 March 2024 £ 9,207 |
||||
| 9,207 | ||||
| Total £ 4,720 4,487 |
||||
| 9,207 |
Page 15
East and West Aid Notes to the Accounts
14 Reconciliation of net debt
| Reconciliation of net debt | |||
|---|---|---|---|
| Cash and cash equivalents Net debt |
At 1 April 2023 £ |
Cash flows £ |
At 31 March 2024 £ |
| 6,631 | (1,149) | 5,482 | |
| 6,631 6,631 |
(1,149) (1,149) |
5,482 | |
| 5,482 |
15 Related party disclosures Controlling party
Page 16
East and West Aid Detailed Statement of Financial Activities
for the year ended 31 March 2024
| Income and endowments from: Donations and legacies Donations from Trusts Charitable activities Sale of products Total income and endowments Expenditure on: Charitable activities Grants made Total of expenditure on charitable activities Other expenditure Employee costs Staff training 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 |
Unrestricted funds 2024 £ - - 42,424 42,424 42,424 - - - 3,766 3,766 13 13 5,579 - 121 5,700 10,620 2,097 6,818 35 948 20,518 - - 1,083 |
Total funds 2024 £ - - 42,424 42,424 42,424 - - - 3,766 3,766 13 13 5,579 - 121 5,700 10,620 2,097 6,818 35 948 20,518 - - 1,083 |
Total funds 2023 £ 3,675 |
|---|---|---|---|
| 3,675 | |||
| 49,705 | |||
| 49,705 | |||
| 53,380 514 |
|||
| 514 | |||
| 514 8,169 |
|||
| 8,169 | |||
| 23 | |||
| 23 | |||
| 7,802 1 - |
|||
| 7,803 | |||
| 10,620 1,928 3,624 685 1,004 |
|||
| 17,861 | |||
| - - 1,338 |
Page 17
East and West Aid
Detailed Statement of Financial Activities
| Equipment repairs and maintenance General insurances Information and publications Postage and couriers Software, IT support and related costs Stationery and printing Subscriptions 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 (expenditure)/income Net (expenditure)/income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
632 4,085 4,444 80 - - 40 930 11,294 995 2,470 3,465 44,756 44,756 - (2,332) (2,332) - (2,332) 11,539 9,207 |
632 4,085 4,444 80 - - 40 930 11,294 995 2,470 3,465 44,756 44,756 - (2,332) (2,332) - (2,332) 11,539 9,207 |
1,706 2,741 5,920 8 41 108 3,749 553 |
|---|---|---|---|
| 16,164 | |||
| 895 1,285 |
|||
| 2,180 | |||
| 52,200 | |||
| 52,714 - |
|||
| 666 | |||
| 666 - |
|||
| 666 | |||
| 10,873 | |||
| 11,539 |
Page 18