REGISTERED CHARITY NUMBER: 1130434
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
FOR
THE MAHER COMMUNITY ASSOCIATION UK
THE MAHER COMMUNITY ASSOCIATION UK
CONTENTS OF THE FINANCIAL STATEMENTS For The Year Ended 31 MAY 2023
| 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 | 8 |
| Detailed Statement of Financial Activities | 9 |
THE MAHER COMMUNITY ASSOCIATION UK
REPORT OF THE TRUSTEES For The Year Ended 31 MAY 2023
The trustees present their report with the financial statements of the charity for the year ended 31 May 2023. 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 main objective of the association is to create unity and to promote educational,cultural ,religious and sporting activities.
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
1130434
Principal address
Maher Centre 15 Ravensbridge Drive Leicester Leicestershire LE4 0BZ
Trustees
Mr Keshav Viram Jessani Mr Devshi Gareja Mr Ramesh Odedra Mr Naresh Kumar Odedra
Independent Examiner
Visana Chartered Accountants 45 Greenways Abbots Langley Hertfordshire WD5 0EU
FUND RAISING ACTIVITIES
The association's constituent towns hold religious ceremonies at several places in the UK which include Navaratri and Diwali.The Association also holds sporting activities during the year.In addition to ticket sales,funds are raised through donations and subscriptions at these events.
Approved by order of the board of trustees on 25 March 2024 and signed on its behalf by:
Mr K V Jessani - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MAHER COMMUNITY ASSOCIATION UK
Independent examiner's report to the trustees of The Maher Community Association UK
I report to the charity trustees on my examination of the accounts of The Maher Community Association UK (the Trust) for the year ended 31 May 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Raj Visana - FCA
Visana Chartered Accountants 45 Greenways Abbots Langley Hertfordshire WD5 0EU
Date: 25th.March 2024
Page 2
THE MAHER COMMUNITY ASSOCIATION UK
STATEMENT OF FINANCIAL ACTIVITIES For The Year Ended 31 MAY 2023
| 31.5.23 | 31.5.22 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 39,609 | - | 39,609 | 14,659 | |
| Investment income | 2 | 99 | - | 99 | 53 |
| Total | 39,708 | - | 39,708 | 14,712 | |
| EXPENDITURE ON | |||||
| Raising funds | 3 | 29,046 | - | 29,046 | - |
| NET INCOME | 10,662 | - | 10,662 | 14,712 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 73,162 | - | 73,162 | 58,450 | |
| TOTAL FUNDS CARRIED FORWARD | 83,824 | - | 83,824 | 73,162 |
The notes form part of these financial statements
Page 3
THE MAHER COMMUNITY ASSOCIATION UK
BALANCE SHEET 31 MAY 2023
| 31.5.23 | 31.5.22 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | fund | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| FIXED ASSETS | ||||||
| Tangible assets | 6 | 6 | - | 6 | 6 | |
| CURRENT ASSETS | ||||||
| Cash at bank | 83,818 | - | 83,818 | 73,156 | ||
| NET CURRENT ASSETS | 83,818 | - | 83,818 | 73,156 | ||
| TOTAL ASSETS LESS CURRENT | ||||||
| LIABILITIES | 83,824 | - | 83,824 | 73,162 | ||
| NET ASSETS | 83,824 | - | 83,824 | 73,162 | ||
| FUNDS | 7 | |||||
| Unrestricted funds | 83,824 | 73,162 | ||||
| TOTAL FUNDS | 83,824 | 73,162 |
The financial statements were approved by the Board of Trustees and authorised for issue on 25 March 2024 and were signed on its behalf by:
Mr K V Jessani - Trustee
The notes form part of these financial statements
Page 4
THE MAHER COMMUNITY ASSOCIATION UK
NOTES TO THE FINANCIAL STATEMENTS For The Year Ended 31 MAY 2023
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.
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.
Equipment - 20% 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.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.5.23 | 31.5.22 | |
| £ | £ | |
| Deposit account interest | 99 | 53 |
Page 5
continued...
THE MAHER COMMUNITY ASSOCIATION UK
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 MAY 2023
3. RAISING FUNDS
Raising donations and legacies
| Raising donations and legacies | |||
|---|---|---|---|
| 31.5.23 | 31.5.22 | ||
| £ | £ | ||
| Specific Donations | 24,114 | - | |
| Support costs | 4,932 | - | |
| 29,046 | - |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 May 2023 nor for the year ended 31 May 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 May 2023 nor for the year ended 31 May 2022.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
6.
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| fund | fund | funds | |
| £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 14,659 | - | 14,659 |
| Investment income | 53 | - | 53 |
| Total | 14,712 | - | 14,712 |
| NET INCOME | 14,712 | - | 14,712 |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 58,450 | - | 58,450 |
| TOTAL FUNDS CARRIED FORWARD | 73,162 | - | 73,162 |
| TANGIBLE FIXED ASSETS | |||
| Equipment | |||
| £ | |||
| COST | |||
| At 1 June 2022 and 31 May 2023 | 246 | ||
| DEPRECIATION | |||
| At 1 June 2022 and 31 May 2023 | 240 | ||
| NET BOOK VALUE | |||
| At 31 May 2023 | 6 | ||
| At 31 May 2022 | 6 |
Page 6
continued...
THE MAHER COMMUNITY ASSOCIATION UK
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 MAY 2023
7. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | ||
|---|---|---|
| Net | ||
| movement | At | |
| At 1.6.22 | in funds | 31.5.23 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 73,162 |
10,662 | 83,824 |
| TOTAL FUNDS 73,162 |
10,662 | 83,824 |
| Net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 39,708 |
(29,046) | 10,662 |
| TOTAL FUNDS 39,708 |
(29,046) | 10,662 |
| Comparatives for movement in funds | ||
| Net | ||
| movement | At | |
| At 1.6.21 | in funds | 31.5.22 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 58,450 |
14,712 | 73,162 |
| TOTAL FUNDS 58,450 |
14,712 | 73,162 |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 14,712 |
- | 14,712 |
| TOTAL FUNDS 14,712 |
- | 14,712 |
continued...
Page 7
THE MAHER COMMUNITY ASSOCIATION UK
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 MAY 2023
7. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.6.21 | in funds | 31.5.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 58,450 | 25,374 | 83,824 |
| TOTAL FUNDS | 58,450 | 25,374 | 83,824 |
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 | 54,420 | (29,046) | 25,374 |
| TOTAL FUNDS | 54,420 | (29,046) | 25,374 |
8. RELATED PARTY DISCLOSURES
There were no related party transactions during the year..
Page 8
THE MAHER COMMUNITY ASSOCIATION UK
DETAILED STATEMENT OF FINANCIAL ACTIVITIES For The Year Ended 31 MAY 2023
| 31.5.23 | 31.5.22 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 39,609 | 14,659 |
| Investment income | ||
| Deposit account interest | 99 | 53 |
| Total incoming resources | 39,708 | 14,712 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Specific Donations | 24,114 | - |
| Support costs | ||
| Management | ||
| Postage and stationery | 1,224 | - |
| Meetings and Hall Hire | 3,702 | - |
| Bank Charges | 6 | - |
| 4,932 | - | |
| Total resources expended | 29,046 | - |
| Net income | 10,662 | 14,712 |
This page does not form part of the statutory financial statements
Page 9