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← Hull And East Riding Hindu Cultural Association

2024-04-10-accounts

Charity Registration No. 1107469

HULL AND EAST RIDING HINDU CULTURAL ASSOCIATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

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72 Lairgate
Beverley
East Yorkshire
United Kingdom
HU17 8EU
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HULL AND EAST RIDING HINDU CULTURAL ASSOCIATION

CONTENTS

Page
Company information 1
Trustees' report 2 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 18

HULL AND EAST RIDING HINDU CULTURAL ASSOCIATION

COMPANY INFORMATION

Trustees Dr Tapan Mahapatra Dr R Chitnis Dr R Lakshminarayan Mrs Sonica Sharma Charity number 1107469 Independent examiner TC Group 72 Lairgate Beverley East Yorkshire United Kingdom HU17 8EU

HULL AND EAST RIDING HINDU CULTURAL ASSOCIATION

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their annual report and financial statements for the year ended 31 March 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's constitution, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.

Objectives and activities

The aims and objectives of the association are:

  1. To promote the understanding of Indian and Hindu culture.

  2. To educate children and adults into the principles and practices of Hindu culture.

  3. To do all such things which will further the above objectives.

  4. Every member of the public at large of any age or sex is entitled to take part in the above activities.

Public benefit

The trustees are confident that the charity provides a public benefit in accordance with the Charities Commission guidelines.

Achievements and performance

Significant activities and achievements against objectives

The Team

As most of you may have realised this was not the biennial election year for the executive committee although 2 vacant posts on the Trustees board needed to be filled due to end of term.

As you know I stepped down as the chairman in 2023 almost after 13 yrs of being at the helm. The new executive committee was elected into place at the last AGM with Uma Rajesh as the chair.

However after 6 months being in the post the chair had offered her intention to resign on various grounds that was conveyed to the Trustees and the executive committee. Whilst Trustees were looking into the matter Balu Gaddam as the Vice Chair was requested to continue as the acting Chair until the matters were resolved.

We as Trustees are very thankful to Balu and rest of the executive committee team including, Navin, Vijay, Dinesh, Jayesh the other office bearers and rest of the executive committee team who not only remained in the post but continue with the good work and hold and manage all events very successfully until today.

We would like to take this opportunity to thank the entire executive committee team for being so supportive for the past year, despite being a challenging year.

I'm sure the new executive committee to be announced soon will continue to be fully dedicated and enthusiastic and members will give their best and continue with the progress and success of our association that we are so proud of.

I would like to thank the Board of Trustees that I have had the opportunity to work with for past yr as a team for their support and particularly dealing with some difficult issues for their overall governance of the association that they are responsible for.

Particular thanks to the outgoing Trustees Uday Joshi & Rajiv Chitinis after completion of their term of 5ys (6yrs) for their immense contribution on Trustees matter.

HULL AND EAST RIDING HINDU CULTURAL ASSOCIATION

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Membership

Membership number although has remained steady around 110 families – there is a potential for this to increase as it is apparent that many more families are visiting our Centre and availing the excellent facilities on various occasions as we would have hoped. It is incumbent upon all of us to persuade all those families to join in for a modest monthly contribution as a charitable donation which is tax deductible to make ourselves financially sustainable in the long run.

Events

We as Trustees are particularly pleased with the continued success of all our events held during the past year thanks to the teams involved. This brought the community together. Details will be provided in Secretary’s report.

Developments

Keeping the future growth in mind the association made a conscious decision to avail the opportunity to purchase a property next door to the existing building at a reasonably discounted price. The aim was to convert it into a multifunctional cultural centre for not only holding various internal events but also the possibility of generating additional revenue for running of the organisation by renting out to external bodies. Several proposals were presented last year which need to be explored further by the new executive committee.

Financial review

Finance

The Trustee’s Board is primarily responsible for the financial governance of the association and directly accountable to the Charity Commission by submitting annual accounts and reporting any other issues.

As per the new legal requirement, the board must give a detailed written undertaking to the Commission via the accountants on an annual basis taking full responsibilities and be personally liable if the processes have not been followed.

We are pleased to see that the Association’s accounts remain in a reasonably healthy balance and pending internal / external audits appear to be following the appropriate process. We sincerely thank the treasury team including the Treasurer, Assistant Treasurer and the Chairman for producing the accounts for the year.

Due to additional demands on utility bills and for long term sustainability and maintenance of the building we will require much more funds in the future. Although we welcome everyone to this beautiful Centre and of course the Temple downstairs, it is important that if we want to maintain the level of facilities at the Centre, that everyone makes at least a modest regular contribution in the way of membership fees which are regarded as donations. Therefore, timely and continuous payment of membership dues is crucial to the overall budget.

HULL AND EAST RIDING HINDU CULTURAL ASSOCIATION

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Reserves policy

The financial reserves of the association are adequate for the purposes of the aims and objectives of the charity.

At the 31 March 2024 the charity held £89,217 (2023: £86,845) in unrestricted reserves and £145,655 (2023: £145,655) in restricted reserves.

The charity’s principal source of income is from donations from its members who donate according to the needs of the association. The premises known as the Hindu Cultural Centre, which was acquired in February 2010 and was funded by donations under gift aid. Therefore, monies were also received from HM Revenue and Customs under Gift Aid Scheme.

The Trustee's Board is primarily responsible for the financial governance of the association and directly accountable to the Charity Commission by submitting annual accounts and reporting any other issues.

We are pleased to see that the Association's account remains in healthy balance and pending internal/external audits appear to be following the appropriate process. We sincerely thank the treasury team including the Treasurer, Assistant Treasurer and the Chairman for producing the accounts for the year.

Major risks

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is an unincorporated body governed by it's constitution and trust deed.

Dr Tapan Mahapatra Dr U Joshi (Resigned 28 April 2024) Dr R Chitnis Dr R Lakshminarayan Mrs Sonica Sharma Mr U Rajesh (Appointed 21 May 2023 and resigned 17 December 2023) Mr B Gaddam (Appointed 17 December 2023 and resigned 28 April 2024)

Recruitment and appointment of trustees

Trustees are appointed for a term of 5 years in accordance with our constitution. After this time trustees leaving office can reapply to remain as a trustee for a further year.

HULL AND EAST RIDING HINDU CULTURAL ASSOCIATION

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Governance

The board of trustees recognise that all the members are equal and will have individual opinions and views, which are well respected. We as Trustees must be impartial in all our decision makings.

As a reminder to all, the board of trustees have been involved in setting and managing governance policy with guidance on accountability, e-mail etiquette, new issues with whats’app communications and complaints grievance procedure etc. We are very pleased to state that most of our members have adhered to this policy in the past most of the times. We continue to plead that all the members should continue to follow this policy and try to resolve the personal issues amongst themselves wherever possible. Of course, if the matters are not resolved, they can approach any member of the trustees who will be happy to meet and resolve the issue amicably or via established procedures.

Unfortunately, Trustees did have to face a challenging time to deal with such issues in past 6 months. Several meetings were held with various members over many weeks. An amicable solution was genuinely sought amongst all. However, in the greater interest of the organisation the Trustees board had to make a difficult decision in the end to call an earlier election this year to coincide with Trustees election rather than that was due next year

Finally, just to clarify, neither any formal complaints were lodged to the Trustees nor any formal investigations were undertaken. The outcome of the final decision was explained at meetings with rest of executive committee and was finally accepted as the way forward.

Thank You

Finally, we would like to thank the outgoing Chairman, the Vice chairman (acting chairman), the Secretary and Assistant Secretary, the Treasurer, the Assistant treasurer and the other office bearers/members of the Executive Committee and all the ordinary members and volunteers who have worked tirelessly over the years to make various events very successful for all their hard work and dedication for the success of this association.

Once again, I finish my report with the customary slogan that we have adhered to all these years that we are a BIG HAPPY FAMILY & that we remain UNITED IN DIVERSITY!

The Trustees' report was approved by the Board of Trustees.

Dr R Lakshminarayan

Trustee

17 January 2025

HULL AND EAST RIDING HINDU CULTURAL ASSOCIATION

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF HULL AND EAST RIDING HINDU CULTURAL ASSOCIATION

I report to the Trustees on my examination of the financial statements of Hull and East Riding Hindu Cultural Association (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

TC Group

72 Lairgate Beverley East Yorkshire HU17 8EU United Kingdom

Dated: 27 January 2025

HULL AND EAST RIDING HINDU CULTURAL ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income and endowments from:
Donations and legacies
3
26,761
-
Other trading activities
4
15,538
-
Other income
5
1,426
-
Total income
43,725
-
Expenditure on:
Raising funds
19,273
-
Charitable activities
6
22,080
-
Total expenditure
41,353
-
Net income and movement in
funds
2,372
-
Reconciliation of funds:
Fund balances at 1 April 2023
86,845
145,655
Fund balances at 31 March
2024
89,217
145,655		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
26,761
26,053
-
15,538
12,981
-
1,426
993
-
43,725
40,027
-
19,273
10,637
-
22,080
28,921
-
41,353
39,558
-
2,372
469
-
232,500
86,376
145,655
234,872
86,845
145,655		 Total
2023
£
26,053
12,981
993
40,027
10,637
28,921
39,558
469
232,031
232,500

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

HULL AND EAST RIDING HINDU CULTURAL ASSOCIATION

BALANCE SHEET

AS AT 31 MARCH 2024

Notes
Fixed assets
Tangible assets
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
16
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
17
Net assets
The funds of the charity
Restricted income funds
18
Unrestricted funds
19		 2024
£
1,468
23,251
24,719
(4,007)		 £
277,233
20,712
297,945
(63,073)
234,872
145,655
89,217
234,872		 2023
£
1,565
23,879
25,444
(4,480)		 £
278,041
20,964
299,005
(66,505)
232,500
145,655
86,845
232,500

The financial statements were approved by the Trustees on 17 January 2025

Dr R Lakshminarayan Trustee

HULL AND EAST RIDING HINDU CULTURAL ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Hull and East Riding Hindu Cultural Association is an unincorporated charity and is controlled by its governing document, a deed of trust.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

HULL AND EAST RIDING HINDU CULTURAL ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings not depreciated Equipment 33% on cost Fixtures, fittings & equipment 20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

HULL AND EAST RIDING HINDU CULTURAL ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

HULL AND EAST RIDING HINDU CULTURAL ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 4,632 4,522
Membership fees 22,129 21,531
26,761 26,053

4 Income from other trading activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Festivals and events 15,538 12,981
5 Other income
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Room hire 1,426 993

HULL AND EAST RIDING HINDU CULTURAL ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

6 Expenditure on charitable activities

Direct costs
Depreciation and impairment
Donations
Rates and water
Insurance
Light and heat
Repairs and maintenance
Stationery and computer expenses
Telephone and internet
Security
Waste
Cleaning
Licences
Loan interest
Bank charges
Sundry expenses
Grant funding of activities (see note 7)
Share of support and governance costs (see note 8)
Governance
Analysis by fund
Unrestricted funds
7
Grants payable
Grants to individuals		 Grants
2024
£
1,561
322
1,129
4,506
2,649
4,035
86
1,019
1,828
424
430
180
2,244
69
158
20,640
-
1,440
22,080
22,080		 Grants
2023
£
1,312
-
2,109
2,200
7,872
3,771
203
851
659
504
417
180
3,474
70
1,075
24,697
3,000
1,224
28,921
28,921
Grants
2023
£
3,000

HULL AND EAST RIDING HINDU CULTURAL ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

8
Support costs
Support
costs
Governance
costs
2024
£
£
£
Accountancy
-
1,440
1,440
-
1,440
1,440
Analysed between
Charitable activities
-
1,440
1,440
9
Net movement in funds
2024
£
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
1,561		 2023
£
1,224
1,224
1,224
2023
£
1,312

10 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

11 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2024 2023
Number Number
Total - -
There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

HULL AND EAST RIDING HINDU CULTURAL ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

13
Tangible fixed assets
Cost
At 1 April 2023
Additions
At 31 March 2024
Depreciation and impairment
At 1 April 2023
Depreciation charged in the year
At 31 March 2024
Carrying amount
At 31 March 2024
At 31 March 2023
14
Debtors
Amounts falling due within one year:
Prepayments and accrued income
15
Loans and overdrafts
Bank loans
Payable within one year
Payable after one year
Amounts included above which fall due after five years:
Payable by instalments		 Land and
buildings
£
275,929
-
275,929
-
-
-
275,929
275,929		 Equipment Fixtures, fittings
& equipment
£
£
-
22,687
753
-
753
22,687
-
20,575
249
1,312
249
21,887
504
800
-
2,112
2024
£
1,468
2024
£
65,640
2,567
63,073
46,705		 Total
£
298,616
753
299,369
20,575
1,561
22,136
277,233
278,041
2023
£
1,565
2023
£
68,694
2,189
66,505
56,035

The long-term loans are secured by fixed charges over the charity's freehold property.

HULL AND EAST RIDING HINDU CULTURAL ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

16 Creditors: amounts falling due within one year
2024 2023
Notes
£		 £
Bank loans 15
2,567		 2,189
Accruals and deferred income 1,440 2,291
4,007 4,480
17 Creditors: amounts falling due after more than one year
2024 2023
Notes
£		 £
Bank loans 15
63,073		 66,505
18 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subject to specific conditions by donors as to how they may be used.
At 1 April 2023 At 31 March
2024
£ £
Property fund 145,655 145,655
Previous year: At 1 April 2022 At 31 March
2023
£ £
Property fund 145,655 145,655

HULL AND EAST RIDING HINDU CULTURAL ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2023 Incoming Resources At 31 March
resources expended 2024
£ £ £ £
General funds 86,845 43,725 (41,353) 89,217
Previous year: At 1 April 2022 Incoming Resources At 31 March
resources expended 2023
£ £ £ £
General funds 86,376 40,027 (39,558) 86,845
20 Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 March 2024:
Tangible assets 131,578 145,655 277,233
Current assets/(liabilities) 20,712 - 20,712
Long term liabilities (63,073) - (63,073)
89,217 145,655 234,872
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
At 31 March 2023:
Tangible assets 132,386 145,655 278,041
Current assets/(liabilities) 20,964 - 20,964
Long term liabilities (66,505) - (66,505)
86,845 145,655 232,500

HULL AND EAST RIDING HINDU CULTURAL ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

21 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).