**REGISTERED COMPANY NUMBER: 05664245 (England and Wales) REGISTERED CHARITY NUMBER: 1114219** **REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024** ## **FOR** ## **SAATHI HOUSE** CTT Accountancy Ltd Gables House 62 Kenilworth Road Leamington Spa Warwickshire CV32 6JX **SAATHI HOUSE** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024** |||**Page**|| |---|---|---|---| |**Report of the Trustees**||1|| |**Independent Examiner's Report**||2|| |**Statement of Financial Activities**||3|| |**Balance Sheet**||4|| |**Notes to the Financial Statements**|5|to|10| |**Detailed Statement of Financial Activities**|11|to|12| **SAATHI HOUSE** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2024. The trustees have adopted the provisions of 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). ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Company number** 05664245 (England and Wales) ## **Registered Charity number** 1114219 ## **Registered office** 49 Bevington Road Aston Birmingham B6 6HR ## **Trustees** Mrs M Begum Director Mrs H L Edstrom Mrs C A Lyndon Mr P Mountain Mrs S Mukadam Ms A Abdullah Ms E Zenatti-Daniels (appointed 12.12.23) Ms F Ridge (appointed 17.7.24) ## **Independent Examiner** CTT Accountancy Ltd Gables House 62 Kenilworth Road Leamington Spa Warwickshire CV32 6JX Approved by order of the board of trustees on 20th December 2024 and signed on its behalf by: Mrs S Mukadam - Trustee Page 1 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SAATHI HOUSE** ## **Independent examiner's report to the trustees of Saathi House ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st 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 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** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. 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: 1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. 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 4. 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. Amy O'Keeffe CTT Accountancy Ltd Gables House 62 Kenilworth Road Leamington Spa Warwickshire CV32 6JX 20th December 2024 Page 2 **SAATHI HOUSE** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024** |**Unrestricted**
**fund**
**Notes**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
4,968
**Charitable activities**
Grants
45,092
Investment income
2
4,910
Other income
727
**Total**
55,697
**EXPENDITURE ON**
**Charitable activities**
Grants
-
Other
456
**Total**
456
Net gains on investments
2,715
**NET INCOME/(EXPENDITURE)**
57,956
**Other recognised gains/(losses)**
Gains/(losses) on revaluation of fixed assets
(3,660)
**Net movement in funds**
54,296
**RECONCILIATION OF FUNDS**
Total funds brought forward
423,247
**TOTAL FUNDS CARRIED FORWARD**
477,543|**Restricted**
**fund**
**£**
1
219,774
-
-
219,775
216,084
3,691
219,775
-
-
-
-
-
-|**31.3.24**
**Total**
**funds**
**£**
4,969
264,866
4,910
727
275,472
216,084
4,147
220,231
2,715
57,956
(3,660)
54,296
423,247
477,543|**31.3.23**
**Total**
**funds**
**£**
3,065
191,388
4,566
235
199,254
143,958
62,271
206,229
-
(6,975)
387,726
380,751
42,496
423,247| |---|---|---|---| The notes form part of these financial statements Page 3 **SAATHI HOUSE** ## **BALANCE SHEET 31ST MARCH 2024** ||||||**31.3.24**|**31.3.23**| |---|---|---|---|---|---|---| |||**Unrestricted**|**Restricted**||**Total**|**Total**| |||**fund**|**fund**||**funds**|**funds**| ||**Notes**|**£**|**£**||**£**|**£**| |**FIXED ASSETS**||||||| |Tangible assets|6|400,228|3,140||403,368|400,268| |**CURRENT ASSETS**||||||| |Debtors|7|2,682||-|2,682|2,078| |Investments|8|41,321||-|41,321|42,386| |Cash at bank||46,757|219,184||265,941|117,993| |**CREDITORS**||90,760|219,184||309,944|162,457| |Amounts falling due within one year|9|(13,445)|(222,324)||(235,769)|(139,478)| |**NET CURRENT ASSETS**||77,315|(3,140)||74,175|22,979| |**TOTAL ASSETS LESS CURRENT**||||||| |**LIABILITIES**||477,543||-|477,543|423,247| |**NET ASSETS**||477,543||-|477,543|423,247| |**FUNDS**|11|||||| |Unrestricted funds|||||477,543|423,247| |**TOTAL FUNDS**|||||477,543|423,247| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (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 provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 20th December 2024 and were signed on its behalf by: Mrs S Mukadam - Trustee The notes form part of these financial statements Page 4 **SAATHI HOUSE** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024** ## **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 2019)', 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, as modified by the revaluation of certain assets. ## **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. Grant income is recognised in the period it relates. ## **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. - Fixtures and fittings - 15% on reducing balance The freehold property has been measured based on the revaluation model and is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit or loss. ## **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. ## **Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. continued... Page 5 **SAATHI HOUSE** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024** ## **2. INVESTMENT INCOME** |**INVESTMENT INCOME**||| |---|---|---| ||**31.3.24**|**31.3.23**| ||**£**|**£**| |Rents received|4,600|4,215| |Other fixed asset inv - UnFII|310|351| ||4,910|4,566| |**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets|**31.3.24**
**£**
205|**31.3.23**
**£**
26| ## **3. NET INCOME/(EXPENDITURE)** ## **4. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31st March 2024 nor for the year ended 31st March 2023. ## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**Unrestricted**
**fund**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3,065
**Charitable activities**
Grants
21,000
Investment income
4,566
Other income
235
**Total**
28,866
**EXPENDITURE ON**
**Charitable activities**
Grants
(26,430)
Other
62,271
**Total**
35,841
**NET INCOME/(EXPENDITURE)**
(6,975)
**Other recognised gains/(losses)**|**Restricted**
**fund**
**£**
-
170,388
-
-
170,388
170,388
-
170,388
-|**Total**
**funds**
**£**
3,065
191,388
4,566
235
199,254
143,958
62,271
206,229
(6,975)| |---|---|---| continued... Page 6 **SAATHI HOUSE** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024** |**5.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
**Unrestricted**
**Restricted**
**fund**
**fund**
**£**
**£**
Gains on revaluation of fixed assets
387,726
-
**Net movement in funds**
380,751
-
**RECONCILIATION OF FUNDS**
Total funds brought forward
42,496
-
**TOTAL FUNDS CARRIED FORWARD**
423,247
-
**6.**
**TANGIBLE FIXED ASSETS**
**Fixtures**
**Freehold**
**and**
**Computer**
**property**
**fittings**
**equipment**
**£**
**£**
**£**
**COST OR VALUATION**
At 1st April 2023
400,000
294
-
Additions
-
-
3,305
At 31st March 2024
400,000
294
3,305
**DEPRECIATION**
At 1st April 2023
-
26
-
Charge for year
-
40
165
At 31st March 2024
-
66
165
**NET BOOK VALUE**
At 31st March 2024
400,000
228
3,140
At 31st March 2023
400,000
268
-|**Total**
**funds**
**£**
387,726
380,751
42,496
423,247
**Totals**
**£**
400,294
3,305
403,599
26
205
231
403,368
400,268| |---|---| Included in cost or valuation of land and buildings is freehold land of £400,000 (2023 - £400,000) which is not depreciated. Cost or valuation at 31st March 2024 is represented by: |Valuation in 2023
Cost|**Freehold**
**property**
**£**
391,750
8,250
400,000|**Fixtures**
**and**
**Computer**
**fittings**
**equipment**
**£**
**£**
-
-
294
3,305
294
3,305|**Totals**
**£**
391,750
11,849
403,599| |---|---|---|---| The property was gifted by The Church Group in 1977. The property was valued by Principal Homes on 25th January 2023. continued... Page 7 **SAATHI HOUSE** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024** ## **7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Other debtors
Prepayments and accrued income
**8.**
**CURRENT ASSET INVESTMENTS**
Listed investments
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 10)
Other creditors
Accruals and deferred income
**10.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
**11.**
**MOVEMENT IN FUNDS**
**At 1.4.23**
**£**
**Unrestricted funds**
General fund
423,247
**TOTAL FUNDS**
423,247||**31.3.24**
**£**
2,078
604
2,682
**31.3.24**
**£**
41,321
**31.3.24**
**£**
-
1,309
234,460
235,769
**31.3.24**
**£**
-
**Net**
**movement**
**in funds**
**£**
54,296
54,296||**31.3.23**
**£**
2,078
-
2,078
**31.3.23**
**£**
42,386
**31.3.23**
**£**
13,787
1,309
124,382
139,478
**31.3.23**
**£**
13,787
**At**
**31.3.24**
**£**
477,543
477,543| |---|---|---|---|---| continued... Page 8 **SAATHI HOUSE** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024** ## **11. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Restricted Fund
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
55,697
219,775
275,472|**Resources**
**expended**
**£**
(456)
(219,775)
(220,231)|**Gains and**
**Movement**
**losses**
**in funds**
**£**
**£**
(945)
54,296
-
-
(945)
54,296| |---|---|---|---| ## **Comparatives for movement in funds** |**At 1.4.22**
**£**
**Unrestricted funds**
General fund
42,496
**TOTAL FUNDS**
42,496
Comparative net movement in funds, included in the above are as follows:
**Incoming**
**Resources**
**resources**
**expended**
**£**
**£**
**Unrestricted funds**
General fund
28,866
(35,841)
**Restricted funds**
Restricted Fund
170,388
(170,388)
**TOTAL FUNDS**
199,254
(206,229)
A current year 12 months and prior year 12 months combined position is as follows:
**At 1.4.22**
**£**
**Unrestricted funds**
General fund
42,496
**TOTAL FUNDS**
42,496|**Net**
**movement**
**At**
**in funds**
**31.3.23**
**£**
**£**
380,751
423,247
380,751
423,247
**Gains and**
**Movement**
**losses**
**in funds**
**£**
**£**
387,726
380,751
-
-
387,726
380,751

**Net**
**movement**
**At**
**in funds**
**31.3.24**
**£**
**£**
435,047
477,543
435,047
477,543| |---|---| continued... Page 9 **SAATHI HOUSE** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024** ## **11. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Restricted Fund
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
84,563
390,163
474,726|**Resources**
**expended**
**£**
(36,297)
(390,163)
(426,460)|**Gains and**
**Movement**
**losses**
**in funds**
**£**
**£**
386,781
435,047
-
-
386,781
435,047| |---|---|---|---| ## **12. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31st March 2024. Page 10 **SAATHI HOUSE** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024** |**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**FOR THE YEAR ENDED 31ST MARCH 2024**||| |---|---|---| ||**31.3.24**|**31.3.23**| ||**£**|**£**| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|4,969|3,065| |**Investment income**||| |Rents received|4,600|4,215| |Other fixed asset inv - UnFII|310|351| |**Charitable activities**|4,910|4,566| |Grants|264,866|191,388| |**Other income**||| |Interest receivable|727|235| |**Total incoming resources**|275,472|199,254| |**EXPENDITURE**||| |**Charitable activities**||| |Project costs|96,776|86,102| |**Other**||| |Equipment hire|3,691|2,418| |Management charges|456|-| |**Support costs**|4,147|2,418| |**Management**||| |Advertising|49|-| |Consultancy|33,890|19,735| |**Finance**|33,939|19,735| |Bank charges|-|490| |**Information technology**||| |Repairs and renewals|14,421|10,151| |Computer expenses|3,146|2,147| ||17,567|12,298| |**Human resources**||| |Wages|52,588|57,708| |Pensions|681|416| |Carried forward|53,269|58,124| This page does not form part of the statutory financial statements Page 11 **SAATHI HOUSE** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024** |**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**FOR THE YEAR ENDED 31ST MARCH 2024**||| |---|---|---| ||**31.3.24**|**31.3.23**| ||**£**|**£**| |**Human resources**||| |Brought forward|53,269|58,124| |Insurance|1,996|1,537| |Light and heat|7,913|6,363| |Telephone|382|796| |Sundries|458|2,976| |Travelling|775|4,979| |Depreciation of tangible fixed assets|206|26| |**Governance costs**|64,999|74,801| |Accountancy fees|2,592|4,285| |Legal fees|211|1,600| |Audit fees|-|4,500| ||2,803|10,385| |Total resources expended|220,231|206,229| |**Net income/(expenditure) before gains and**||| |**losses**|55,241|(6,975)| |**Realised recognised gains and losses**||| |Realised gains/(losses) on fixed asset investments|2,715|-| |**Net income/(expenditure)**|57,956|(6,975)| |||| This page does not form part of the statutory financial statements Page 12