Registered number: 06038553 Charity number: 1135224
Maharashtra Mandal UK Ltd (A company limited by guarantee)
Unaudited
Trustees' report and financial statements
For the Year Ended 31 October 2024
Maharashtra Mandal UK Ltd
(A company limited by guarantee)
Contents
| Page | |
|---|---|
| Reference and administrative details of the Company, its Trustees and advisers | 1 |
| Trustees' report | 2 - 6 |
| Independent examiner's report | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 - 10 |
| Notes to the financial statements | 11 - 21 |
Maharashtra Mandal UK Ltd
(A company limited by guarantee)
Reference and administrative details of the Company, its Trustees and advisers For the Year Ended 31 October 2024
| Trustees | Sushil Waman Gaikwad, Chairman |
|---|---|
| Govind Shankar Kanegaonkar, Trustee | |
| Vaibhav Ramesh Khandge, Trustee | |
| Vasant P Ranade, Finance Trustee | |
| Company registered number 06038553 Charity registered number 1135224 Registered office 306 Dollis Hill Lane Cricklewood London NW2 6HH Accountants Mantax Lynton Chartered Accountants 2nd Floor Equitable House 7 General Gordon Place London SE18 6FH |
Page 1
Maharashtra Mandal UK Ltd
(A company limited by guarantee)
Trustees' report For the Year Ended 31 October 2024
The Trustees present their annual report together with the financial statements of Maharashtra Mandal UK Ltd (the Company) for the year 1 November 2023 to 31 October 2024. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Structure, Governance and Management
The company is a company limited by guarantee incorporated on 2nd January 2007 and is governed by the memorandum and articles of association incorporated on 16th May 2009 as amended by the special resolution of 23rd February 2010. The company was granted charitable status on 26th March 2010. The memorandum and articles of association of the company were further updated and amended on 5th March 2014.
The company is controlled by another entity; Maharashtra Mandal London which has similar charitable activities and common trustees. As per the Articles of Association every member of Maharashtra Mandal London is also a member of the company.
The organization structure of the Company consists of a Board of Trustees (BOT) who are responsible for the finances, investments and custody of its funds and property.
The trustees who are also directors for the purposes of company law, and who served during the year and up to the date of signature of the financial statement were:
Sushil Waman Gaikwad, Chairman Vaibhav Ramesh Khandge , Trustee Vasant Purushottam Ranade, Finance Trustee Govind Shankar Kanegaonkar, Trustee
The present Trustees (except Vasant Purushottam Ranade) were appointed on 18 June 2022 at a Special General Meeting (SGM). Vasant Purushottam Ranade was appointed on 1st April 2023.
The Following portfolios were allocated:
Chair Trustee : Sushil Waman Gaikwad Finance Trustee: Vasant Ranade Fund Raising Trustee: Vaibhav Khandge
A nomination committee is appointed who is responsible to scout for appropriate trustees candidates. After interviewing the candidates and on assessing their qualifications, experience and commitment the committee invites them to join the board of trustees. After the incumbent has accepted the invitation, the nomination committee then recommends them to the General Body for their approval of trustee appointment in the members Annual General meeting. None of the trustees has any beneficial interest in the company. All trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Page 2
Maharashtra Mandal UK Ltd
(A company limited by guarantee)
Trustees' report (continued) For the Year Ended 31 October 2024
a. Constitution
Maharashtra Mandal UK Ltd is registered as a charitable company limited by guarantee and was set up by a Trust deed.
b. Methods of appointment or election of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Pay policy for key management personnel
Trustees and key management personnel do not take any remuneration from the company.
d. Financial risk management
The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Objectives and activities
a. Policies and objectives
The charity's objects are, inter alia:
-
To advance education in Marathi culture, language, music, dance and art amongst Marathi speaking people, their spouses and descendants (hereinafter referred to as Maharashtrians) through the provision of centre, library, exhibitions, displays and other facilities and activities.
-
To advance religion amongst Maharashtrians.
-
To preserve and protect good health and to relieve sickness and poverty amongst Maharashtrians.
-
To do all such activities that will help Maharashtrians to integrate with British culture and society such that Maharashtrians are benefited by best of both cultures and make their living in the United Kingdom a fulfilling journey. Such activities may not only be traditional Maharashtrian but in the spirit of aforesaid object could cover activities like Sports Club, Education courses, celebration of British national days and so on. This list is not exhaustive and may cover activities that are in the spirit of mutually beneficial cultural co-existence.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Activities undertaken to achieve objectives
Freehold of the Maharashtra Mandal London Building
The offer for the freehold purchase of the building is still on the table with the landlord, the Church of England Diocese. The trustees are actively updating them on the progress of all fundraising efforts. The trustees have successfully secured the necessary funding from the Government of Maharashtra to purchase the freehold of the building and the process is currently underway. Our fundraising trustee, Mr. Vaibhav Khandge, will provide a detailed update on his progress at the upcoming Annual General Meeting (AGM).
Page 3
Maharashtra Mandal UK Ltd
(A company limited by guarantee)
Trustees' report (continued) For the Year Ended 31 October 2024
Building Management and Maintenance
We have appointed a part-time caretaker who is responsible for regular cleaning and maintenance tasks, as well as providing assistance during events held at the building.
Building Maintenance Report
This year, our maintenance costs have exceeded those of the previous year due to several essential upgrades and improvements made across the building.
-
Kitchen Facilities : We constructed a shed at the back of the kitchen to enhance our culinary operations and better accommodate kitchen facilities.
-
Storage Solutions : New storage units were built in the kitchen and other areas, improving organisation and accessibility for supplies and equipment.
-
Office Improvements : A locker has been installed in the office room, optimising the use of space for personal items and documents.
-
Audio System : The old music system has been successfully reconnected, revitalising our sound capabilities for events and gatherings.
-
Roof Renovation : The flat roof on the right side was removed and replaced with a new, durable roof, ensuring enhanced protection against the elements.
-
Heating System Upgrade : The heating system has been updated, and new pipes have been installed to improve energy efficiency and comfort throughout the building.
-
Left Side Roof Repairs : We have identified a leak in the left side roof, and a quotation has been obtained. Repairs are scheduled to be completed this summer.
-
Damp Survey : A damp survey of the building has been conducted, and we are currently awaiting the report to address any damp issues identified.
This report highlights the ongoing efforts and maintenance activities being carried out at the Maharashtra Mandal London building to ensure the safety, functionality, and sustainability of the property for its members and visitors. These upgrades not only enhance the facilities but also contribute to a more efficient and pleasant environment for everyone.
Electrical Safety
An Electrical Installation Condition Report (EICR) was conducted to assess the safety of the electrical installation within the property. While there are no immediate safety concerns, 18 recommendations for action were made to enhance electrical safety, which will be addressed in due course.
b. Main activities undertaken to further the Company's purposes for the public benefit
The trustees have complied with their duty in section 17 of the Charities Act 2011 to have due regard to the guidance published by the Charity Commission.
Achievements and performance
a. Key performance indicators
This year, the hall hire income of £32,193 was very close to last year’s income of £35,345. We had one main regular hall hirer in the year under review like last year. The other main source of Income was donations of £37,500 receivable from Maharashtra Mandal London (2023: £56,500). It has been our priority to keep users safe and we have been vigilant in updating our hirers about changes to government guidelines.
Overall income in 2024 was £70,640 compared with £92,175 in 2023. The primary reason of fall in income has
Page 4
Maharashtra Mandal UK Ltd
(A company limited by guarantee)
Trustees' report (continued) For the Year Ended 31 October 2024
been reduced donation received from Maharashtra Mandal London. The expenses total £100,468 (2023: £93,774). Repairs cost in total expenses was £31,067 (2023: £3,712). Net deficit was £29,828. After incurring this deficit, the Company still has unrestricted funds to carry forward into 2025-26 financial year in excess of £211,994.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Also, Maharashtra Mandal London (MML), a charity under common control by the same Trustees, has agreed to provide financial assistance to the company to enable it to continue to trade for the foreseeable future. For this reason, the trustees continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three- and six-month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
c. Principal risks and uncertainties
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
d. Principal funding
Apart from income from hall hire, the main funding for the company is received from Maharashtra Mandal London (MML), which is a registered charity with Charity Commissions and under the management of common Trustees. During the year, MML provided donations of £37,500 (2023: £56,500) to the company.
Funds held as custodian
The charity does not hold any funds as custodian.
Members' liability
The Members of the Company guarantee to contribute an amount not exceeding £1 to the assets of the Company in the event of winding up.
Page 5
Maharashtra Mandal UK Ltd (A company limited by guarantoe) Trustees. report (continued) For the Year Ended 31 October 2024 statement of Ttee$. responsibilities The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounling Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financtal statements for each financial year. Under company law. the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure. for that penod. In preparing these financial statements, the Trustees are required to.. select suitable aCUnting policies and then appty them consistentl5r. observe the melhods and principles of the Charities SORP (FRS 102). make judgments and accounting estimates that are reasonable and prudent: state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements" prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeptng adequate aLYx)unting rerdS that are sufficient to show and explain the Companls transactions and disclose with reasonable accuracy at any time the financial position of the Company 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 Cornpany and hence for takn'ng reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the tM)ard of Trustees and signed on their behalf by. Sushll Waman Galkwad Chairman Date: Iq.L74.S& Page 6
Maharaslrtra Mandal UK Ltd (A company Ilmited by guarantee) Indep8ndent examlnets report For the Year Ended 31 October 2024 Independent examiner's report to the Trustees of Maharashtra Mandal UK Ltd ('the Company,) I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 October 2024. Responslbllltles and basls of report As the Trustees of th8 Company (and its directors for purposes of company law} you are responsible for the preparation of the accounts in accordance wrth the requirements of the Companies Act 2008 (Ihe 2008 Act'}. Having satisfied myself that the accounts of the Company are not required to be audrted under Part 16 of the 2006 Act and are eligible for independent examination, I report in resp8Ct of my examination of the Companls accounts carried out under section 145 of the Charities Act 2011 (Yhe 2011 Act,). In carrying out my examination I have followed th8 Diredions given by the Charity C(xnmission und8r section 145(5){b) of the 2011 Act. Independent examinevs statement I have completed my examination. I confirm that no matters have come to my attention in conn8Ction with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by section 388 of the 2006 Act,. or the accounts do not accord with thos8 r8cords', or the accounts do not comply with the accounling requirements of section 3g6 of the 2D06 Act other tPian any requirement that the accounts give a true and fairf view which is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods arld principles of the Stst8m8nt of Recommended Practice ft)r accounting and reporting by charrties [applicable to charities preparing their accounts in accordance with th8 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}]. I have no cOnrn5 and have come across no other matters in connection with the examination to which att8nlion should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the Companys Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state lo the Companws Trustees those matters l am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent perm(tted by law, I do not accept or assume responsibilty to anyone other than the Company and the Companls Trustees a body, for my wort( or for this report. Dated: Lg. ol. 2D24 Signed.. Janak Raj Pokhrel ACA , FCCA Mantax Lynton Chartered Accountants 2nd Floor Equitable House 7 General Gordon Place London SE18 6FH Page 7
Maharashtra Mandal UK Ltd
(A company limited by guarantee)
Statement of financial activities (incorporating income and expenditure account) For the Year Ended 31 October 2024
| Note Income from: Donations and legacies 3 Hall hire income 4 Other income 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2024 £ 37,500 32,321 819 70,640 100,524 100,524 (29,884) 241,878 (29,884) 211,994 |
Total funds 2024 £ 37,500 32,321 819 70,640 100,524 100,524 (29,884) 241,878 (29,884) 211,994 |
Total funds 2023 £ 56,830 35,345 - 92,175 93,717 93,717 (1,542) 243,420 (1,542) 241,878 |
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 11 to 21 form part of these financial statements.
Page 8
Maharashtra Mandal UK Ltd
(A company limited by guarantee) Registered number: 06038553
Balance sheet As at 31 October 2024
| Note Fixed assets Tangible assets 10 Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 13 Unrestricted funds 13 Total funds |
50,060 15,954 66,014 (28,985) |
2024 £ 174,965 174,965 37,029 211,994 211,994 211,994 - 211,994 211,994 |
69,687 18,723 88,410 (28,562) |
2023 £ 182,030 |
|---|---|---|---|---|
| 182,030 59,848 |
||||
| 241,878 | ||||
| 241,878 | ||||
| 241,878 | ||||
| - 241,878 |
||||
| 241,878 |
Page 9
Maharashtra Mandal UK Ltd (A company limited by guarantee Registered number. 06038553 Balance sheet (contlnued) As at 31 October 2024 The Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have nol required the company to obtain an audit for the year in question in accordan with section 476 of Companies Act 2006. The Trustees aCknoedge their SponSibl11t1eS for complying with the requirements of the Act respect to accounting records and preparation of financial ststements. The financial statements have been prepared in aCrdance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and aUthOred for issue by the Trustees and signed on their behaft by: Sushil Waman Gaikwad Chairman nt P Ranade- Finance Trustee Date: Iq oLt. Y£)" The notes on pages 11 to 21 form part of these financial statements. Page10
Maharashtra Mandal UK Ltd
(A company limited by guarantee)
Notes to the financial statements For the Year Ended 31 October 2024
1. General information
Maharashtra Mandal UK Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 306 Dollis Hill Lane, London, NW2 6HH. The charity meets the definition of a public benefit entity under FRS 102.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Maharashtra Mandal UK Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Company, can be reliably measured.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 11
Maharashtra Mandal UK Ltd
(A company limited by guarantee)
Notes to the financial statements For the Year Ended 31 October 2024
2. Accounting policies (continued)
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.4 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following bases:
| Long-term leasehold property | - Over the term of the lease |
|---|---|
| Fixtures and fittings | - 33.33% p.a. on a straight line basis |
| Computer equipment | - 33.33% p.a. on a straight line basis |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of financial activities.
2.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 12
Maharashtra Mandal UK Ltd
(A company limited by guarantee)
Notes to the financial statements For the Year Ended 31 October 2024
2. Accounting policies (continued)
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.8 Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.9 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
Page 13
Maharashtra Mandal UK Ltd
(A company limited by guarantee)
Notes to the financial statements For the Year Ended 31 October 2024
| 3. Income from donations and legacies Unrestricted funds 2024 £ Donations 37,500 Unrestricted funds 2023 £ Donations 56,830 4. Investment income Unrestricted funds 2024 £ Hall Hire income 32,321 Unrestricted funds 2023 £ Hall Hire income 35,345 5. Other incoming resources Unrestricted funds 2024 Total funds 2024 £ £ Other incoming 819 819 |
Total funds 2024 £ 37,500 |
|---|---|
| Total funds 2023 £ 56,830 |
|
| Total funds 2024 £ 32,321 |
|
| Total funds 2023 £ 35,345 |
|
| Total funds 2023 £ - |
Page 14
Maharashtra Mandal UK Ltd
(A company limited by guarantee)
Notes to the financial statements For the Year Ended 31 October 2024
6. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted funds 2024 £ Support costs 86,145 Event costs 14,379 Total 2024 100,524 Unrestricted funds 2023 £ Support costs 57,430 Event costs 36,287 Total 2023 93,717 |
Total 2024 £ 86,145 14,379 |
|---|---|
| 100,524 | |
| Total 2023 £ 57,430 36,287 |
|
| 93,717 |
7. Analysis of expenditure by activities
| Charitable activities - support cost Charitable activities - event costs Total 2024 |
Activities undertaken directly 2024 £ - 14,379 14,379 |
Support costs 2024 £ 86,145 - 86,145 |
Total funds 2024 £ 86,145 14,379 |
|---|---|---|---|
| 100,524 |
Page 15
(A company limited by guarantee)
Maharashtra Mandal UK Ltd
Notes to the financial statements For the Year Ended 31 October 2024
7. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs Depreciation Accountancy fees Council tax and rates Insurance Telephone & Communication Computer costs Repair & Maintenance Cleaning and Gardening Printing and Stationeries Bank charges Exp type 15 Light & Heat Subscription Website |
Activities 2024 £ 8,736 18,180 1,000 162 8,585 729 87 31,964 7,960 47 427 180 6,695 667 726 86,145 |
Total funds 2024 £ 8,736 18,180 1,000 162 8,585 729 87 31,964 7,960 47 427 180 6,695 667 726 |
|---|---|---|
| 86,145 |
Page 16
(A company limited by guarantee)
Maharashtra Mandal UK Ltd
Notes to the financial statements For the Year Ended 31 October 2024
7. Analysis of expenditure by activities (continued)
Analysis of support costs (continued)
| Staff costs Depreciation Accountancy fees Council tax and rates Insurance Telephone & Communication Exp type 5 Repair & Maintenance Cleaning & Gardening Ground rent Exp type 14 Light & Heat Subscription Website Independent examiner's remuneration Fees payable to the Company's independent examiner for the independent examination of the Company's annual accounts |
Activities 2023 £ 385 15,997 1,675 3,164 7,737 477 130 5,064 10,130 84 24 11,818 175 570 57,430 2024 £ 750 |
Total funds 2023 £ 385 15,997 1,675 3,164 7,737 477 130 5,064 10,130 84 24 11,818 175 570 |
|---|---|---|
| 57,430 | ||
| 2023 £ 750 |
8. Independent examiner's remuneration
9. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .
During the year ended 31 October 2024, no Trustee expenses have been incurred (2023 - £NIL) .
Page 17
Maharashtra Mandal UK Ltd
(A company limited by guarantee)
Notes to the financial statements For the Year Ended 31 October 2024
10. Tangible fixed assets
| Cost or valuation At 1 November 2023 Additions At 31 October 2024 Depreciation At 1 November 2023 Charge for the year At 31 October 2024 Net book value At 31 October 2024 Debtors Due within one year Trade debtors Other debtors Prepayments and accrued income Donations receivable |
Long-term leasehold property £ 190,200 7,542 197,742 29,757 2,152 31,909 165,833 |
Fixtures and fittings £ 136,228 109 136,337 115,818 15,157 130,975 5,362 |
Computer equipment £ 2,625 3,464 6,089 1,448 871 2,319 3,770 2024 £ 4,860 660 5,755 38,785 50,060 |
Total £ 329,053 11,115 |
|
|---|---|---|---|---|---|
| 340,168 | |||||
| 147,023 18,180 |
|||||
| 165,203 | |||||
| 174,965 | |||||
| 2023 £ 6,795 5,944 2,827 54,121 69,687 |
11. Debtors
Page 18
(A company limited by guarantee)
Maharashtra Mandal UK Ltd
Notes to the financial statements For the Year Ended 31 October 2024
12. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Accruals and deferred income Covid fund disbursement outstanding Statement of funds Statement of funds - current year Unrestricted funds General Funds - all funds Statement of funds - prior year Unrestricted funds General Funds - all funds |
Balance at 1 November 2023 £ 241,878 Balance at 1 November 2022 £ 243,420 |
Income £ 70,640 Income £ 92,175 |
2024 £ 3,378 342 1,750 23,515 28,985 Expenditure £ (100,524) Expenditure £ (93,717) |
2023 £ 1,902 - 3,145 23,515 |
|---|---|---|---|---|
| 28,562 | ||||
| Balance at 31 October 2024 £ 211,994 |
||||
| Balance at 31 October 2023 £ 241,878 |
13. Statement of funds Statement of funds - current year
Page 19
Maharashtra Mandal UK Ltd
(A company limited by guarantee)
Notes to the financial statements For the Year Ended 31 October 2024
14. Summary of funds
| Summary of funds | ||||
|---|---|---|---|---|
| Summary of funds - current year General funds Summary of funds - prior year General funds |
Balance at 1 November 2023 £ 241,878 Balance at 1 November 2022 £ 243,420 |
Income £ 70,640 Income £ 92,175 |
Expenditure £ (100,524) Expenditure £ (93,717) |
Balance at 31 October 2024 £ 211,994 |
| Balance at 31 October 2023 £ 241,878 |
15. Analysis of net assets between funds Analysis of net assets between funds - current period
| Unrestricted funds 2024 £ Tangible fixed assets 174,965 Current assets 66,014 Creditors due within one year (28,985) Total 211,994 |
Total funds 2024 £ 174,965 66,014 (28,985) |
|---|---|
| 211,994 |
Page 20
(A company limited by guarantee)
Maharashtra Mandal UK Ltd
Notes to the financial statements For the Year Ended 31 October 2024
15. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior period
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2023 £ 182,030 88,410 (28,562) 241,878 |
Total funds 2023 £ 182,030 88,410 (28,562) 241,878 |
|---|---|---|
16. Members' liability
Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member.
17. Related party transactions
During the year Maharashtra Mandal London (MML) a charity controlled by the same Trustees have provided donations to the company of £37,500 (2023:£56,500). Amount owed by MML to the company at the year end was £38,785 (2023:£54,120).
18. Controlling party
The charitable company is controlled by the board of Trustees.
Page 21
Maharashtra Mandal UK Ltd
(A company limited by guarantee)
Income and expenditure account For the Year Ended 31 October 2024
| Income Hall Hire Other income Donation from MML Other Donations Gains on investments Gross income in the reporting period Less: Charitable activites Event costs General & Water rates Insurance Light & Heat Repairs & Maintenance Cleaning & Gardening Support Costs Website & Hosting Licence fees & IT Depreciation Wages and salaries Subscription Telephone & Internet Printing,postage and stationery Building security Accountancy Bank fees Book keeping charges Staff training Travel Legal and professional |
2024 £ 32,321 819 37,500 - 14,379 162 8,585 5,948 31,067 7,960 726 87 18,180 8,736 667 729 47 897 1,000 427 650 80 17 180 |
2024 £ 70,640 - 70,640 68,101 |
2023 £ 35,345 - 56,500 330 36,287 3,165 7,737 11,818 3,712 10,130 570 130 15,997 384 175 477 84 1,352 1,675 24 - - - - |
2023 £ |
|---|---|---|---|---|
| 92,175 | ||||
| - | ||||
| 92,175 | ||||
| 72,849 | ||||
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Maharashtra Mandal UK Ltd
(A company limited by guarantee)
Income and expenditure account (continued) For the Year Ended 31 October 2024
| Total expenditure Net expenditure before taxation for the reporting period Tax payable Net expenditure for the reporting period Deficit for the reporting period Surplus brought forward at 1 November 2023 Surplus carried forward at 31 October 2024 |
2024 £ |
2024 £ 32,423 100,524 (29,884) - (29,884) (29,884) 241,424 211,540 |
2023 £ |
2023 £ 20,868 93,717 (1,542) - (1,542) (1,542) 242,966 241,424 |
|---|---|---|---|---|
The notes on pages 11 to 21 form part of these financial statements.
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