## ## |Trustees||Mr S Suresh||| |---|---|---|---|---| |||Mr P Navendran||| |||Mr R Sritharan||| |||Mr S Selvendran||| |||Mr P Niranjan||| |||Mr S Dawned||| |||Mr M TSelvarajah||| |||Mrs A Vimaladasa||| |Charity|number|1103602||| |Principal|address|183||| |||Burnt Oak Broadway||| |||Edgware||| |||Middlesex||| |||HA8 SEH||| |Auditor||RehncyShaheen|Chartered|Accountants| |||1276/1278 Green|ford Road|| |||Greenford||| |||Middlesex||| |||UB6 OHH||| ## ## ||||Page| |---|---|---|---| |Tlllstecs|report||1-13| |Statement|oftrustees'|responsibilities|14| |Independent
auditor's||report|15-16| |Statement|offinancial|activities|17| |Statement|offinancial|position|18| |Notes to the financial||statements|19-27| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Plans for future periods| |---| |Plans- Short Term| |The trustees conrad ertwo to three years us short term, and intent( to carry out the following tasks.
1.Continue to manage
the Charity as efficien as possible by improving
the commuoity
and social activities.
2, Enhance
the structure ofthe Charity
by involving
more youths who have completed
either Diploma grade or Post Diploma
grade in their chosen subjective.
3.Develop plan for future ofthe Charity considering/
nominating
additional
second-generation
Trustees with due care.
4. Develop a Enancial plan and strategy
for the purchase ofa &ee-hold property
which will meet the Charity's
administration
and logistical
ncert
5. Continue
with
current
charitable
activities
considering
the social impact
on the community
in the UK as well
as other
countries where OFAAL has vested interest.| |6. Develop
comprehensive
training
program
for newly
Diploina
or Post-Diploma
passed
out young
musicians
to become
properly
tmined examiners,
since the Trustees firmly believe, that they are future ofOFAAL.
7.Aim to have lass than 20students
in every Tamil classes conducted by OFAAL Tamil and Fine Arts School.
8. Aim to have at kast four fine art teachers for avery &ne art subjects (Vocal, Violin, Veena, Flute, keyboard,
and percussion
instrument)| |9,Makes the OFAAL Tamil &Fine Arts School opemtion
to be the number one Tamil &Fine arts school in the UK.
10.To recruit a permanent
staff during 2021 who hss the knowledge
offine arts music subjects and the relevant
markeL The
trustees
believe
that
this
appoinnnent
will
ct'cate
and
pmmote
the
awareness
of the
extra
benefits
attached
with
the
cogaboration
with RSL and to deal with the passible
extm demand
that ofqual accredited corti&rates and ucss points will bring
to OFAAL.| |Plans - Medium Term| |The trustees consider three to six years as medium
term, and intend to carry out the following tasks.
I.Continue
to inanage
the charity as efficien as possible and impmve
community
and social activities.
2.Continue
to unpmve
the Charity's
youth organisation
and promote youth activities.
3, Devise a plan to work with external UK educational
system whereby
OFAAL's Diploma or Post-Diploma
qualifications
are
recognised forUCAS (Universities
and Colleges Administration
Service) points.
4. Expand
the other
geographical
area within
UK snd
mainland
European
countries,
where
OFAAL
does not conduct
examination.| |5. Open another OFAAL Tamil and Fine Arts school operation
into Greenford & Southall
area where Tamils and South Asian
people live predominantly| |Plans - Long Term| |The trustees considerbeyond
six years as long term snd intend to carry out the following
tasks.
1. Purchase
a hue*old
land
where
OFAAL
could
build
a performance
hall
to conduct
music
programs
and graduation
ceremony.| |2. Continue
to manaus
the Charity m efficient as possible.
3.Msmtam ahigh standard
by which OFAAL will be well known in the warM,
4, Active yonths
are trained
through
whom OFAAL activities (independent
exmnination
as well Tiunil &Fine arts School) are| |5.Identify fully trained, efficient and trust worthy youths to whom
the OFAAL operations
can be handed over.| |Structure,
governance
and management| |Oriental Fine Arts Academy ofLondon isa charity established
in England. The principal
address is 183Burnt Oak Broadway,| |The Charity
is an unincorporated
charity formed under a constitution
under a deed dated 5th May 2004, which was adopted on
9th Deceinber
2000 and. as amended
on 28th February
2004, 21st October 2011, and
10th November
2012. It has been
registered with the Charity Commission
under reference 1103602| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||Unrestricted|Unrestricted| |---|---|---|---|---| ||||funds|funds| ||||2020|2019| |Income from:||Notes||g| |Charitable
activities||||| |Investments|||146,639|384,502| ||||1|6| |Total income||||| ||||146,640|384,508| |~s*
dd||||| |Charitable
activities||5|130,633|349,213| |Net income for the year/||||| |Net incoming|resources||16,007|35,295| |Other recognised
gains and losses||||| |Other gains or|losses||7,420|(2,799)| |Net movement|in funds|||| ||||23,427|32,496| |Fund balances at 1 January 2020|||584,898|547,289| |Fund balances|at 31December 2020||608,325|584,898| ## ## ## ||||||2020||2019|| |---|---|---|---|---|---|---|---|---| ||||Notes|||||| |Fixed assets||||||||| |Intangible
assets
Tangible assets|||10
11|||5,784
494,672||495,085| |Current
assets||||||500,456||495,085| |Debtors
Cash at bank and in|hand||12|5,974
219,555|||3,813
149,364|| |Creditors: amounts|falling due within|one||225,529|||153,177|| |year|||13|(117,660)|||(63,364)|| |Net current assets||||||||| |||||||107,869||89,813| |Total assets Jess current liabilities||||||608,325||584,898| |Income funds||||||||| |Unrestricted
funds||||||||| |||||||608,325||584,898| |||||||608,325||584,898| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||2020|2019| |---|---|---|---|---| |||||g| |Services
Income|provided
to students
from Tamil School||122,699|341,271| ||||23,940|43,231| ||||146,639|384,502| |||Unrestricted|Unrestricted| |---|---|---|---| |||funds|funds| |||2020|2019| ||||6| |Interest|receivable||| ## ## ## ## |||Expenditure|Expenditure| |---|---|---|---| |||on charitable|on charitable| |||activities|activities| |||2020|2019| |Examination
costs
Teachers'
and examiners'
expenses
Volunteers
expenses
Venue hire
Tamil school books
Special training-
fine arts teaching
Tamil school travel gt subsisitence||14,981
57,315
2,341
9,024
563|38,226
132,612
6,334
54,478
1,873
30,100| |||85,109|263,623| |Share ofsupport costs (see note 6)
Share ofgovernance
costs (see note 6)||28,419
17,105|81,740
3,850| |||130,633|349,213| ## ## ## |6|Support costs||||||| |---|---|---|---|---|---|---|---| |||Support costs|Governance|2820|Support costs|Governance|2019| ||||costs|||costs|| ||||g||||| ||StafFcosts
Depreciation
Advertising
Computer
costs
Travel|7,575
1,859||7,575
1,859|16,470
550
606
23||16,470
550
606
23| ||Bank charges
Office costs
Function costs
Website costs
Premises costs
Sundry
expenses|2,658
4,149
88
5,089
6,335
666||2,658
4,149
88
5,089
6,335
666|3,696
4,438
7,650
4,656
7,608
35,536
507||3,696
4,438
7,650
4,656
7,608
35,536
507| ||Audit fees
Legal and professional||3,600
13,505|3,600
13,505||3,600
250|3,600
250| |||28,419|17,105|45,524|81,740|3,850|85,590| ||Analysed
between||||||| ||Charitable
activities|28,419|17,105|45,524|81,740|3,850|85,590| ## ## ## ## |Employment|costs||| |---|---|---|---| |||2020|2019| ||||f| |Wages and salaries|||| |Other pension|costs|7,107|16,089| |||468|381| |||7,575|16,470| |||||Unrestricted|Unrestricted| |---|---|---|---|---|---| |||||funds|funds| |||||2020|2019| ||Foreign exchange (gains)/losses||||| |||||(7,420)|2,799| |10|Intangible|fixed assets|||| ||||||Website cost| ||Cost||||f| ||At 1 January|2020|||| ||Additions
-|separately|acquired||| ||||||7,230| ||At 31December 2020||||| ||||||7,230| ||Amortisation|and impairment|||| ||At 1 January|2020|||| ||Amortisation|charged for the year|||| ||||||1,446| ||At 31December 2020||||| ||||||1,446| ||Carrying
amount||||| ||At 31 December 2020||||| ||||||5,784| ||At 31December 2019||||| ## ## ## |11|Tangible fixed assets||||||| |---|---|---|---|---|---|---|---| |||||Freehold land|Fixtures and|Computers|Total| |||||and buildings|fittings||| ||Cost||||||| ||At 1 January 2020|||493,339|2,200|2,617|498,156| ||At 31 December 2020|||493,339|2,200|2,617|498,156| ||Depreciation
and impairment||||||| ||At I January 2020
Depreciation
charged|in the|year||550
413|2,521|3,071
413| ||At 31December 2020||||963|2,521|3,484| ||Carrying
amount||||||| ||At 31December 2020|||493,339|1,237|96|494,672| ||At 31December 2019|||493,339|1,650|96|495,085| |12|Debtors||||||| ||Amounts
falling due within||one year:|||2020
g|2019
K| ||Trade debtom||||||| ||Other debtors|||||5,174|1,953| |||||||800|| ||Prepayments
and accrued income||||||| ||||||||1,860| |||||||5,974|3,813| |13|Creditors: amounts
falling||due within one year||||| |||||||2020|2019| |||||Notes|||f| ||Other taxation and social security
Deferred income
Other creditors||||14|113
61,886|1,292
8,897| ||Accruals and deferred income|||||1,135
54,526|4,649
48,526| |||||||117,660|63,364| ## ## ## |2020|2019| |---|---| |61,886|8,897|