REGISTERED COMPANY NUMBER: 05475506 (England and Wales) REGISTERED CHARITY NUMBER: 1113152
Trustees' Report and Unaudited Financial Statements for the Year Ended 31 December 2021 for
The Rajasthani Foundation
The Rajasthani Foundation Contents of the Financial Statements for the year ended 31 December 2021
| Page | |
|---|---|
| Trustees' Report | 1 to 2 |
| Statement of Trustees Responsibilities | 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 to 7 |
| Notes to the Financial Statements | 8 to 12 |
| Detailed Statement of Financial Activities | 13 to 14 |
The Rajasthani Foundation Trustees' Report for the year ended 31 December 2021
The trustees present their annual report and accounts for the year ended 31 December 2021.
PRINCIPAL ACTIVITIES
A summary of the objectives of the charity as set out in its governing document:
-
To work towards the relief of poverty, hardship, and distress both within the UK and overseas among members of the Rajasthani community, with special emphasis on Ecology, Health and Education for the benefit of Women, Children and the Underprivileged by provision of such financial assistance and material assistance trustees shall from time to time determine.
-
The advancement of education within the UK in the history, languages, literature, art, music and dance of Rajasthan by such charitable means as trustees shall from time to time determine and by provision of financial assistance to schools and/or educational establishments in Rajasthan which are in need of essential education materials, supplies or facilities.
Post pandemic in later part of 2021, The Foundation organised Diwali Charity ball as the only ticketed events during the year 2021.
As a commitment to give back to the society during the pandemic, the foundation organised the following:
-
In April 2021, when the deadly second wave spread in India and hospitals ran out of beds and lifesaving oxygen, TRF in response set up the ‘TRF INDIA COVID RELIEF FUND’ to help the government hospitals in Rajasthan. TRF team worked hard and ensured over 800 oxygen concentrators and 14 non-invasive ventilators, where shipped to different hospitals, in Rajasthan to save precious lives.
-
Also at the same time, to overcome the shortage of ambulances in the whole country, TRF joined hands with Young Indians (YI) to help purchase an ambulance called ‘Farishtey’ to help patients in the desperate times.
Our Diwali Charity ball was organised on 13[th] November 2021 at Grand Connaught Rooms, London. Our event was fully sold out and it was very successful event post pandemic. Charity raised more than £4000 fund in the event.
We hope to get the continued support from our members, sponsors, donors and supporters.
FINANCIAL REVIEW
Transactions and Financial position
The financial statements are set out on pages 8 to 14. The financial statements have been prepared implementing the 2005 Revision of the Statement of Recommended Practice for Accounting and Reporting by Charities issued by the Charity Commission for England and Wales (revised in June 2008) and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). As stated in the introduction to this report, the trustees consider the financial performance by the charity during the year to have been satisfactory.
Total income for the period was £77,239 and total expenses being £74,245 and therefore resulting in net surplus of £2,994. Overall Charity needs greater donation and support of members. The total reserves as on 31st December 2021 was £138,540.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Nature of the Governing Document and constitution of the charity:
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The Charity is governed by its Memorandum and Articles of Association under the Companies Act.
-
The Charity has a Board of Directors and by constitution all the Directors are Trustees of the Charity.
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No policy has been adopted on reserves.
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The board and the working committees are all working in a voluntary capacity and there are minimum fixed expenses.
-
Budgets are prepared for any charitable activity and expenses are kept within the budget.
Page 1
The Rajasthani Foundation Trustees' Report
for the year ended 31 December 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number 05475506 (England and Wales)
Registered Charity number 1113152
Registered office
Pacific House 382 Kenton Road Kenton Harrow Middlesex HA3 8DP
Trustees Mrs Bina Agarwal Mr R Chechani Mr D Chowdhury Mrs S Agarwal Mrs V Dahad Mr S Tyagi
Independent examiner
Ace Accountancy Ltd. 144 Station Road, Harrow, Middlesex, HA1 2RH
Bankers
NatWest Bank
Reporting Accountants
Sinclair McKinsley Limited Chartered Certified Accountants Sinckot House 211 Station Road Harrow, HA1 2TP Approved by order of the board of trustees on 22nd December 2021 and signed on its behalf by:
Mr D Chowdhury - Trustee
Charity Law and the Companies Acts require the Board to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to
- Select suitable accounting policies and then apply them consistently,
Page 2
The Rajasthani Foundation
Statement of Trustees Responsibilities For the year ended 31 December 2021
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Make judgments and estimates that are reasonable and prudent and
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will
continue in business.
- State whether applicable accounting standards and statements of recommended practice have been followed subject to any material departures disclosed and explained in the financial statements:
The trustees are also responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are also responsible for the contents of the trustees' report, and the responsibility of the auditors in relation to the trustees' report is limited to examining the report and ensuring that on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Page 3
Independent Examiner's Report to the Trustees of The Rajasthani Foundation
Independent examiner's report to the trustees of The Rajasthani Foundation ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.
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 accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of 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
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The accounts 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 accounts to be reached
Ace Accountancy Ltd. 144 Station Road, Harrow, Middlesex, HA1 2RH
23[rd] December 2022
Page 4
The Rajasthani Foundation Statement of Financial Activities At 31 December 2021
| Year ended | |||||
|---|---|---|---|---|---|
| 31.12.21 | 31.12.20 | ||||
| Unrestricted | Restricted | Total funds | Total funds | ||
| fund | fund | ||||
| Not | £ | £ | £ | £ | |
| es | |||||
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 24,384 | - | 24,384 | 9,000 | |
| Other trading activities | 2 | 52,855 | - | **52,855 ** | 641 |
| Total | 77,239 | - | 77,239 | 9,641 | |
| EXPENDITURE ON | |||||
| Raising funds | 3 | 66,631 | - | 66,631 | 11,316 |
| Charitable activities | |||||
| Donations | 7,614 | 0 | **7,614 ** | 2,475 | |
| Total | 74,245 | 0 | 74,245 | 13,791 | |
| NET INCOME/(EXPENDITURE) | 2994 | 0 | 2994 | (4,150) | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 152,799 | 0 | 152,799 | 156,949 | |
| TOTAL FUNDS CARRIED FORWARD | 155,793 | - | 155,793 152,799 |
The notes form part of these financial statements
Page 5
The Rajasthani Foundation Balance Sheet At 31 December 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total funds | Total funds | ||
| fund | fund | ||||
| Not | £ | £ | £ | £ | |
| es | |||||
| CURRENT ASSETS | |||||
| Debtors | 7 | 10,128 | - | 10,128 | 6,784 |
| Other debtors | 14,837 | - | 14,837 | 15,288 | |
| Cash at bank and in hand | 138,541 | - | **138,541 ** | 133,783 | |
| 163,506 | - | 163,506 | 155,855 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 8 | (7,713) | - | (7,713) | (3,056) |
| ------------ | ---------- | ---------- | |||
| NET CURRENT ASSETS | 155,793 | - | 155,793 | 152,799 | |
| ------------ | ---------- | ---------- | |||
| TOTAL ASSETS LESS CURRENT | 155,793 | - | 155,793 | 152,799 | |
| LIABILITIES | |||||
| ----------- | ------- | ----------- |
----------- | ||
| NET ASSETS | 155,793 | - | 155,793 | 152,799 | |
| ------------ | ------- | ---------- |
---------- | ||
| FUNDS9 | |||||
| Unrestricted funds | 155,793 | 152,799 | |||
| Restricted funds | - | - | |||
| ---------- | ---------- | ||||
| TOTAL FUNDS | 155,793 | 152,799 | |||
| ----------- | ---------- |
The notes form part of these financial statements
Page 6
The Rajasthani Foundation Statement of Financial Activities At 31 December 2021
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for:
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies.
The financial statements were approved by the Board of Trustees on 22nd December 2021 and were signed on its behalf by:
Mr R Chechani -Trustee
The notes form part of these financial statements
Page 7
The Rajasthani Foundation Notes to the Financial Statements for the year ended 31 December 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. 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.
Taxation
The charity is exempt from corporation 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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
2. OTHER TRADING ACTIVITIES
| Year ended | Year | |
|---|---|---|
| ended | ||
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| Membership subscriptions | 0 | 415 |
| Diwali other sales | 52,855 | 0 |
| Holi income/Comedy Night | 0 |
0 |
Page 8
The Rajasthani Foundation
Notes to the Financial Statements - continued for the year ended 31 December 2021
| Other Event Sales | 0 52,855 |
226 641 |
|
|---|---|---|---|
3. RAISING FUNDS
Raising donations and legacies
| Year ended | Year Ended | |
|---|---|---|
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| Support costs | 193 | 577 |
Investment management costs
| Year ended | Year ended | |
|---|---|---|
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| Administrative expenses | 1204 | 685 |
4. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| Year ended | Year ended | |
|---|---|---|
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| Other operating leases | - | - |
Page 9
The Rajasthani Foundation
Notes to the Financial Statements - continued for the year ended 31 December 2021
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the period ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the period ended 31 December 2020.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | Restricted | Total funds | |
|---|---|---|---|
| £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM |
|||
| Donations and legacies | 24,384 | - | 24.384 |
| Other trading activities | 52,855 | - | 52,855 |
| Total | 77,239 | - | 77,239 |
| EXPENDITURE ON | |||
| Raising funds | 66,631 | - | 66,631 |
| Charitable activities | |||
| Donations | 7,614 | 0 | 7,614 |
| Total | 74,245 | 0 | 74,245 |
| NET INCOME/(EXPENDITURE) | 2994 | 0 | 2994 |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 152,799 | 0 | 152,799 |
| TOTAL FUNDS CARRIED FORWARD | 155,793 | 0 | 155,793 |
Page 10
The Rajasthani Foundation
Notes to the Financial Statements - continued for the year ended 31 December 2021
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Debtors Other debtors 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Accrued expenses 9. MOVEMENT IN FUNDS |
2021 £ 10,128 14,837 24,965 2021 £ 6,213 1,500 7,713 |
2020 £ 6,784 15,288 22,072 2020 £ 2,056 1,000 3,056 |
|---|---|---|
| Net | ||||
|---|---|---|---|---|
| movement | ||||
| At 1.1.21 | in funds | At 31.12.21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 152,799 | 2994 | 155,793 | |
| Restricted funds | ||||
| Welfare of disabled children | - | - | - | |
| TOTAL FUNDS | 152,799 | 2994 | 155,793 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 77,239 | 74,245 | 2994 | |
| Restricted funds | ||||
| Welfare of disabled children | - | 0 | - | |
| TOTAL FUNDS | 77,239 | 74,245 | 2994 |
Page 11
The Rajasthani Foundation
Notes to the Financial Statements - continued for the year ended 31 December 2021
Comparatives for movement in funds
| Comparatives for movement in funds | |||
|---|---|---|---|
| Net | |||
| movement | |||
| At 1.1.20 | in funds | At 31.12.20 | |
| £ | £ | £ | |
| Unrestricted Funds | |||
| General fund | 9,641 |
13,791 | (4,150) |
| Restricted Funds | |||
| Welfare of disabled children | 0 | 0 | 0 |
| TOTAL FUNDS | 9,641 | 13,791 |
(4,150) |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
11. LIMITED BY GUARANTEE
The charity is limited by guarantee and does not have share capital. Each member gives the guarantee to contribute a sum not exceeding £1 to the charity should it be wound up. At 31/12/2021 there were 874 members.
Page 12
The Rajasthani Foundation Detailed Statement of Financial Activities for the year ended 31 December 2021
| Year ended 31.12.21 INCOME AND ENDOWMENTS Donations and legacies £ TRF India Covid Relief Fund 24,289 Gift aid 0 Voluntary Income (Donations) 95 Membership fees 0 Other trading activities 24,384 Diwali auction income 0 Diwali other sales 52,855 Holi income 0 Sponsorship - Other Event Sales 0 52,855 Total incoming resources EXPENDITURE Other trading activities 77,239 Diwali expenses 11,324 Diwali auction 0 Diwali entertainment 4,942 Diwali printing 3,700 Diwali venue and catering 29,500 Event management - Covid relief costs 14,559 Photographer costs 709 64,734 |
Year ended 31.12.20 £ 0 0 9,000 415 9,415 0 0 0 - 226 226 9,641 7,154 0 0 2,400 0 - 0 0 9,554 |
|---|---|
Page 13
This page does not form part of the statutory financial statements
The Rajasthani Foundation Detailed Statement of Financial Activities for the year ended 31 December 2021
| Investment management costs Administrative expenses Charitable activities - Donations 7,614 Support costs Year ended 31.12.21 Information technology £ Website costsOther - Service charges Governance costs - Legal fees - Bank Charges 122 Accountancy Fees 500 Subscriptions 963 Insurance 193 Telephone - Postage and Stationary - Equipment expenses 119 1,897 Total resources expended 74,245 Net income / (expenditure) 2994 |
- 2,475 Year Ended 31.12.20 £ - - - 685 500 - 577 - - - 1,762 13,791 -4,150 |
|---|---|
Page 14
This page does not form part of the statutory financial statements