**REGISTERED CHARITY NUMBER: 1124577** ## **GO HELP ASIA TRUST** ## **TRUSTEES' REPORT AND** ## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** Albury Associates Limited 2nd Floor, One Hobbs House, Harrovian Business Village Bessborough Road Harrow Middlesex HA1 3EX **GO HELP ASIA TRUST** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** |||**Page**|| |---|---|---|---| |**Trustees' Report**|1|to|2| |**Independent Examiner's Report**||3|| |**Statement of Financial Activities**||4|| |**Balance Sheet**||5|| |**Notes to the Financial Statements**|6|to|12| **GO HELP ASIA TRUST** **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024** The trustees present their report with the financial statements of the charity for the year ended 31 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). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The Trust's objects are firstly, to promote for the benefits of the inhabitants of Southall and the surrounding areas without distinction of sex, sexual orientation, race or political, religious or other options, by organising together the said inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and other leisure time activities with the objects of improving the conditions of life of the said inhabitants; and secondly, to establish or secure the establishment of a community centre (Hereinafter called 'The Centre') and to maintain and manage the same (whether alone or in cooperation with any local authority or person or body) in furtherance of those objectives. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** The charitable organisation has made available, during the year, a substantial amount of space with limited facilities for third-party charities to organise their own fundraising events at no cost. This has continued to grow over the years and currently, many charities benefit from the facilities offered by Go Help Asia Trust. In addition to the above, the usual social activities and facilities are being made available for senior citizens to get together and have various musical and recreational events. The Charitable Organisation has continued to maintain this facility, despite a number of external pressures such as the lack of car park spaces and the growth in property development in the year, that seems to continue. The number of people attending is relatively stable and the Charitable Organisation is set to continue to provide this facility for the foreseeable future. ## **FINANCIAL REVIEW** ## **Financial Review** During the year, the Trust continued to enhance the property in order to ensure that further facilities become available for a Community Centre to be provided for the local community and to this extent received donations of £366,507 (2023: £360,589). Total expenditure of £148,014 (2023: £115,434) was incurred on administrative and property development and maintenance costs and in relation to the provision of the facilities to the local community. It is the policy of the Trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months expenditure. The trustees consider that reserves at this level will ensure that, in the event of significant drop in funding, they will be able to continue trust current activities while consideration is given to ways in which additional funds may be used. This level of reserve has been maintained throughout the year. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1124577 ## **Principal address** Southall Community Centre 20 Merrick Road Southall Middlesex UB2 4AU Page 1 GO HELP ASIA TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Trusteès Mf G S Malhi Mr B S Malhl Mrs l K Malhi Mrn P K Malhi Indap#nd•nt Examlner Klran Patel 8A BFP FCA Ajbury Associates Limited 2nd Floor. One Hobbs House, Harrovian By8lness Ifillage Bessborough Road Harrow Middlesex HA13EX Approved by order of board of tru8tses on 26 November 2024 ar#1 svwed on its bohalf by. Mr B S Malhi- Tnmtee G5m Page 2 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GO HELP ASIA TRUST Independent exarninerfs report to the trustees of Go Help Asia Trust I report lo the charity trustees on my examination ol the aco)unts of Go Help Asia Trust {Ihe Trust) for Ihe year ended 31 March 2024. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance wth the requirements of the Charibes Act 2011 {'the Act'l. I report In respect of my examination of the Trusf s accounts carried out under Section 145 of the Act and in carrying out my examination I have follo￿d all applicable Directsons given by the Charity Commission under Section 145(5llbl of the ACL Independent examlner's ststemgnt Since your charity's gross income exceeded £250,000 your examiner must be a member of a lisled body. I can confim Ihal I am qualified to undertake the examination because l am a member of the Instilule of Chartered Accountants in England and Wales, which is one of the listed I have completed my examination. I confimi that no material matters have come lo my attents'on in connection with the examination giving me cause to believe that in any material resFed'. accounting records were not kept in respect of Ihe Trust as required by Section 130 of the Acl,. or the account5 do not accord with those records,. or thè accounts do not comply with the applicable requirements concerning the fomi and content of accounts sel out in the Charities IAccounls and Reportsl Regulations 2008 other than any requirement that the accounts givè a true and fair view which is not a matter ¢onsidered as part of an independént examinats'on. I havè no concerns and have come across no other matters in connection smth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. atel BFP FCA Albury Associates Limited 2nd Floor. One Hobbs House, Harrovian Businèss Village Bessborough Road Harrow Middlesex HA13EX 26 Novemter 2024 Page 3 **GO HELP ASIA TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
2
**Total**
**EXPENDITURE ON**
**Charitable activities**
Donations
Other
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|**2024**
Unrestricted
Restricted
**Total**
fund
fund
**funds**
£
£
**£**
**366,507**
**-**
**366,507**
**11,118**
**-**
**11,118**
**377,625**
**-**
**377,625**
**3,000**
**-**
**3,000**
**191,550**
**(46,536)**
**145,014**
**194,550**
**(46,536)**
**148,014**
**183,075**
**46,536**
**229,611**
**620,143**
**2,981,162**
**3,601,305**
**803,218**
**3,027,698**
**3,830,916**|2023
Total
funds
£
360,589
2,904| |---|---|---| |||363,493| |||5,810
109,624| |||115,434| |||248,059
3,353,246| |||3,601,305| The notes form part of these financial statements Page 4 GO HELP ASIA TRUST BALANCE SHEET 31 MARCH 2024 2024 Totsl 2023 Total funds r#J fund FIXED ASSETS Tangible a￿ets Investments &024,698 3,000 3.024,698 3,OiXI 2.978.162 3,000 3,027,698 3.027,698 2.981.162 CURRENT ASSEf8 D&btorn Cash at bank 1.351.310 1.351.310 1.353,989 818.540 2339.768 2,339,766 2.170.509 CREDrroR3 Amounts latllng due wlthln one In9.791) (739,791> 1708.6871 NET CURRENT AS8ET8 1Wg.97S 1.$99,975 1.461.822 TOTAL A88ET8 LESS CURRENT UABiunE8 1.599.975 3,027.698 1627,673 4.442.984 CREDrroR8 Amounts falllng dug after rnorg then one ye 10 1796.757) 1796.7S7) (841.679) NEf ASSErs 803218 3,027,898 3.830.916 3.601.305 FUNDS Unmlrfcted fund5: Gan8ral lund Rostrlci•d fvnds 13 803218 3,027,698 820.143 2.981.162 TOTAL FUNDS 3,830,916 3.801.305 Tho ftnanclal Statements approved ty the Board of Tru8teos and aUttrth￿ on 26 NO￿nb￿r 2024 and wer8 8lgned on Ils behalf by: Mr B S Malhl- TN8100 Pagg 5 **GO HELP ASIA TRUST** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **1. ACCOUNTING POLICIES** ## **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, with the exception of investments which are included at market value. ## **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. ## **Allocation and apportionment of costs** Support costs have been allocated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to accountancy fees and legal fees together with an apportionment of overhead and support costs. Governance costs and support costs relating to charitable activities have been apportioned based on the directly identifiable costs incurred and on the basis of time spent in dealing with the organisation charitable activities both internally and for external charities.The allocation of support and governance costs is analysed in note 7. ## **Tangible fixed assets** No depreciation is provided in respect of the freehold property; this constitutes a departure from the statutory rules requiring fixed assets to be depreciated over their useful economic lives and is necessary to give a true and fair view. Depreciation is only one of the many factors reflected in the annual review and the amount which might otherwise have been shown cannot be separately identified or quantified. Tangible fixed assets other than investment properties are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows Plant & machinery - Straight line over 10 years Fixtures and fittings - 33% on cost ## **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. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Page 6 **GO HELP ASIA TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **2. INVESTMENT INCOME** |**INVESTMENT INCOME**||||| |---|---|---|---|---| ||||**2024**|2023| ||Unrestricted|Restricted|**Total**|Total| ||funds|funds|**funds**|funds| ||£|£|**£**|£| |Deposit account interest|**11,118**|**-**|**11,118**|2,904| ## **3. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. ## **4. STAFF COSTS** The average monthly number of employees during the year was as follows: ## **5.** |Management
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
360,589
Investment income
2,904
**Total**
363,493
**EXPENDITURE ON**
**Charitable activities**
Donations
5,810
Other
394,566
**Total**
400,376
**NET INCOME/(EXPENDITURE)**
(36,883)
**RECONCILIATION OF FUNDS**
Total funds brought forward
657,026
**TOTAL FUNDS CARRIED FORWARD**
620,143|| |---|---| ||| ||| ||| Page 7 **GO HELP ASIA TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **6. TANGIBLE FIXED ASSETS** |**COST**
At 1 April 2023
Additions
At 31 March 2024
**DEPRECIATION**
At 1 April 2023 and 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023
**7.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 April 2023 and 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023|Freehold
property
£
**2,978,162**
**46,536**
**3,024,698**
**-**
**3,024,698**
2,978,162|Plant &
machinery
£
**30,726**
**-**
**30,726**
**30,726**
**-**
-|Fixtures
and
fittings
£
**103,373**
**-**
**103,373**
**103,373**
**-**
-|Totals
£
**3,112,261**
**46,536**
**3,158,797**
**134,099**
**3,024,698**
2,978,162
Shares in
group
undertakings
£
**3,000**
**3,000**
3,000| |---|---|---|---|---| There were no investment assets outside the UK. (See Note 17) |**8.**
**DEBTORS**
Amounts falling due within one year:
Other debtors
Amounts falling due after more than one year:
Other debtors
Aggregate amounts|**2024**
**£**
**852,310**
**499,000**
**1,351,310**|2023
£
854,969| |---|---|---| |||499,000| |||1,353,969| Page 8 **GO HELP ASIA TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** |**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 11)
Other creditors
**10.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Bank loans (see note 11)
**11.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more than 5 years
**12.**
**SECURED DEBTS**
The following secured debts are included within creditors:
Bank loans|**2024**
**£**
**81,986**
**657,805**
**739,791**
**2024**
**£**
**796,757**
**2024**
**£**
**81,986**
**163,971**
**245,957**
**386,829**
**2024**
**£**
**878,743**|2023
£
81,986
626,701| |---|---|---| |||708,687| |||2023
£
841,679| |||2023
£
81,986| |||163,971| |||245,957| |||431,751
2023
£
923,665| The Bank Loans are secured by a fixed and floating charge over the freehold property of the Charitable Entity. Page 9 **GO HELP ASIA TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** |**13.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
Fixed Assets
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Fixed Assets
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Fixed Assets
**TOTAL FUNDS**|At 1/4/23
£
**620,143**
**2,981,162**
**3,601,305**
Incoming
resources
£
**377,625**
**-**
**377,625**
At 1/4/22
£
657,026
2,696,220
3,353,246||Net
movement
in funds
£
**183,075**
**46,536**
**229,611**
Resources
expended
£
**(194,550)**
**46,536**
**(148,014)**
Net
movement
in funds
£
(36,883)
284,942
248,059|At
31/3/24
£
**803,218**
**3,027,698**| |---|---|---|---|---| |||||**3,830,916**| |||||Movement
in funds
£
**183,075**
**46,536**
**229,611**
At
31/3/23
£
620,143
2,981,162| |||||3,601,305| Page 10 **GO HELP ASIA TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **13. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |Incoming
resources
£
**Unrestricted funds**
General fund
363,493
**Restricted funds**
Fixed Assets
-
**TOTAL FUNDS**
363,493
A current year 12 months and prior year 12 months combined position is as follows:
At 1/4/22
£
**Unrestricted funds**
General fund
657,026
**Restricted funds**
Fixed Assets
2,696,220
**TOTAL FUNDS**
3,353,246||Resources
expended
£
(400,376)
284,942
(115,434)
Net
movement
in funds
£
146,192
331,478
477,670|Movement
in funds
£
(36,883)
284,942
248,059
At
31/3/24
£
803,218
3,027,698
3,830,916| |---|---|---|---| ||||| |A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as|A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as|A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as|A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as| |---|---|---|---| |follows:|||| ||Incoming|Resources|Movement| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|741,118|(594,926)|146,192| |**Restricted funds**|||| |Fixed Assets|-|331,478|331,478| |**TOTAL FUNDS**|741,118|(263,448)|477,670| Page 11 **GO HELP ASIA TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **14. RELATED PARTY DISCLOSURES** Included within other debtors is an amount of £852,311 (2023: £854,969) owed from Go Help Asia Limited. Go Help Asia Limited is a subsidiary of Go Help Asia Trust. Included within other debtors is an amount of £499,000 (2023: £499,000) owed from Milestone Properties London Limited. Milestone Properties London Limited is a subsidiary of Go Help Asia Trust. These amounts are unsecured, interest free and repayable on demand. Included within other creditors is an amount of £654,326 (2023: £607,790) owed to Diamond Property London Limited, Diamond Property London Limited is a subsidiary of Go Help Asia Trust. This amount is unsecured, interest free and payable on demand. ## **15.** ## **SUBSIDIARY UNDERTAKINGS** The charitable entity has three wholly owned subsidiary undertakings registered in England and Wales: |Name|Number|Registered Address|Activity|Holding| |---|---|---|---|---| |Go Help Asia Limited|11143787|47 High Beeches,|Property|100%| |||Gerrards Cross,|Management|| |||England,SL9 7HY||| |Milestone Properties London Limited|11828074|47 High Beeches,|Development|100%| |||Gerrards Cross,|of Building|| |||England,SL9 7HY|Projects|| |Diamond Property London Limited|13303162|47 High Beeches,|Development|100%| |||Gerrards Cross,England,|of Building|| |||SL9 7HY|Projects|| Page 12