HINDU WELFARE ASSOCIATION OF ESSEX Prepared Financial Statement Report (unaudited) For the year April 01 2023, through March 31, 2024
Table of Contents
Page
FINANCIAL STATEMENT:
Statement of Activities………………………………………………………………………………………………………………….1 Statement of Financial Position…………………………………………………………………………………………………….2 Statement of Cashflows………………………………………………………………………………………………………………..3 Notes to Financial Statements…...………………………………………………………………………………………………..4
HINDU WELFARE ASSOCIATION OF ESSEX
Statement of Financial Activities
For the Year Ended March 31
| Unrestricted Funds |
Temporary Restricted |
2024 | 2023 | |
|---|---|---|---|---|
| INCOME AND ENDOWMENTS Donations and legacies Other trading activities Investment income TOTAL SUPPORT AND REVENUE OPERATING EXPENSES Raising funds Others TOTAL OPERATING EXPENSES NET INCOME RECONCILIATION OF FUNDS Funds brought forward Adjustments into funds |
189,226 $ 3,144 $ 2 $ 192,372 $ 118,615 $ - $ 118,615 $ 73,756 $ 41,077 $ (89,261) $ |
189,226 $ 3,144 $ 2 $ 192,372 $ 118,615 $ - $ 118,615 $ 73,756 $ 41,077 $ (89,261) $ |
114,959 $ 1,910 $ 1 $ |
|
| - $ |
116,870 $ 94,620 $ - $ |
|||
| - $ |
94,620 $ |
|||
| - $ |
22,250 $ 18,827 $ - $ |
|||
| Total Funds Carried Forward | 114,833 $ |
- $ |
25,572 $ |
41,077 $ |
1
HINDU WELFARE ASSOCIATION OF ESSEX Balance Sheet
As of December 31
| 2024 £ |
2023 £ |
|
|---|---|---|
| ASSETS Fixed Assets Tangible Assets Intangible Assets Total Fixed Assets CURRENT ASSETS Debtors Cash and cash equivalents TOTAL CURRENT ASSETS Current Liabilites Amounts falling due within one year NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT�LIABILITIES Non Current Liabilities |
- - - - 27,425 27,425 1,853 25,572 25,572 - |
- - |
| - 23,072 18,082 |
||
| 41,154 78 |
||
| 41,076 | ||
| 41,076 | ||
| - | ||
| NET ASSETS | 25,572 | 41,076 |
| FUNDS Unrestricted Restricted |
25,572 - |
41,076 - |
| TOTAL FUNDS | 25,572 | 41,076 |
2
HINDU WELFARE ASSOCIATION OF ESSEX
Statement of Cash Flows
For the Year Ended March 31
| 2024 £ |
2024 £ |
2023 £ |
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES Increase in net assets 73,756 Adjustments to reconcile change in net assets to net cash provided by operating activities: Trade Debtors and Creditors 24,848 Loss on sale of PPE Depreciation & Amortization - NET CASH PROVIDED BY OPERATING ACTIVITIES 98,604 CASH FLOWS FROM INVESTING ACTIVITIES Purchases of property and equipment - Sale of property and equipment - NET CASH USED IN INVESTING ACTIVITIES - CASH FLOWS FROM FINANCING ACTIVITIES Loan paid (89,261) NET CASH USED IN FINANCING ACTIVITIES (89,261) |
22,250 (22,993) - |
|
| (744) | ||
| - 150,641 150,641 |
||
| (146,929) (146,929) |
||
| NET INCREASE IN CASH | 9,343 | 2,968 |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 18,082 | 15,114 |
| CASH AND CASH EQUIVALENTS AT END OF YEAR | 27,425 | 18,082 |
3
Note:
1 ACCOUNTING POLICIE Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102. The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Plant and Machinery
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
| 2 OTHER TRADING ACTIVITIES Advertisement 3 INVESTMENT INCOME Deposit account interest |
31.3.2024 £ 3,144 2 |
31.3.2023 £ |
|---|---|---|
| - | ||
| - |
4
| 4 RAISING FUNDS Raising donations and legacies Staff costs Support costs 4.1 SUPPORT COSTS Management Finance 4.1.1 Management Rates and water Insurance Light and heat Telephone Postage and stationery Direct Expense Gross Wages Hosting Fees and IT Consumables Cleaning Legal Fees Subscriptions Suspense Account 4.1.2 Finance Bank charges Bank loan interest 5 TANGIBLE FIXED ASSETS COST At 1 April 2023 and 31 March 2024 NET BOOK VALUE At 31 March 2023 At 31 March 2024 |
Freehold Property £ - - - |
14,672 103,943 118,615 103,118 825 103,943 478 2,678 13,687 199 995 8,850 67,323 481 1,218 44 990 6,174 103,118 825 - 825 Improvements to Property £ - - - |
11,704 82,916 |
|---|---|---|---|
| 94,620 82,258 658 |
|||
| 82,916 381 2,137 10,918 159 794 7,060 53,704 384 972 35 790 4,925 |
|||
| 82,258 658 - |
|||
| 658 Total £ |
|||
| - | |||
| - | |||
| - |
5