Trustees’ Annual Report for the period
From 01/8/22 To 31/7/23
Charity name: CONFUCIUS & TAO ASSOCIATION (UK)
Charity registration number: 1138997
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | Confucius Tao Association (UK) is a company limited by guarantee with no share capital incorporated on 22 July 2010. The company was granted charity status on 12 November 2010 and is governed by its Memorandum and Articles of Association. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
The objects of the charity are: 1. To advance religion for the public benefit by promoting Buddhism and the teachings of the great Tao 2. To promote the mental or spiritual improvement of the community for the public benefit by sponsoring the teachings of Confucius 3. To promote religious and racial harmony for the public benefit by enhancing mutual understanding amongst all races and cultures in the United Kingdom 4. To relieve those in need by provision of charitable, physical or moral assistance, for the public benefit |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The trustees have considered their duty as outlined in Section 4 of the Companies Act 2006 to have due regard to the Charity Commission’s guidance on public benefit. The purpose of the charity is enshrined in its objectives as outlined above. The trustees ensure that this purpose is carried out for the public benefit by delivering a range of suitable activities. |
Additional information (optional) You may choose to include further statements where relevant about:
SORP reference Para 1.38 Policy on grant making Para 1.38
| Policy on social investment including program related investment |
The charity’s investment powers are governed by the Memorandum and Articles of Association. This permits the charity’s funds to be invested in investments, securities or property as may be thought fit but only after obtaining appropriate advice from a Financial Expert. |
|
|---|---|---|
| Contribution made by volunteers |
Para 1.38 | |
| Other |
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | During the period under review, the organisation continued with its usual charitable activities .The Tea Bar called Lotus Bloom Café has been re-opened after the new renovation in June 2022.Some of the charitable activities are still held online and some are at the property where possible including seminars and other events. We have applied and ware grated the rental licence on March 2023 by the Council for the flat at the property. There was no further progress on the re-submission of the application to the local Council for the change of use of the property. All formal activities relating to using the premises as a place of worship until the outcome of the future resubmission of the planning permission is known have continued to be suspended during the year to date. The charity operates in London but has informal links with other independent charity organisations based in Birmingham and Glasgow. Fundraising was carried out in those locations for the charity. |
Additional information (optional) You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | |
| Para 1.41 |
| Performance of fundraising activities against objectives set |
||
|---|---|---|
| Investment performance against objectives |
Para 1.41 | |
| Other |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | The charity had a deficit of £1,865 ( 2022 Surplus £33,981) ) for the year. Total incoming resources for the year amounted to £93,971 ( 2022 £112,452). |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | The trustees have examined the requirement for free reserves which are those unrestricted fun do not invested in fixed assets, designated for special purposes or otherwise committed. The trustees consider that there are sufficient unrestricted funds to carry out the activities of the charity and to meet its running costs for at least 6 months ahead. |
| Amount of reserves held | Para 1.22 | As at 31 July 2023, the total reserves of the charity amounted to £452,637 (2022 £454,502 ). |
| Reasons for holding zero reserves |
Para 1.22 | |
| Details of fund materially in deficit |
Para 1.24 | |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | The trustees have considered the going concern of the charity particularly in the light of the pandemic and its impact on cashflows. They have come to the conclusion that the charity has adequate resources to continue in business for the next 12 months. |
Additional information (optional) You may choose to include further statements where relevant about:
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 | Income representing the value of gifts, donations and contributions from memb ers is recognised in full in the Statement of Financial Activities when receivable. |
|---|---|---|
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | The charity’s investment powers are governed by the Memorandum and Articles of Association. This permits the charity’s funds to be invested in investments, securities or property as may be thought fit but only after obtaining appropriate advice from a Financial Expert. |
| A description of the principal risks facing the charity |
Para 1.46 | The trustees are aware of the major operational and business risks which the charity faces and are confident that adequate systems are in place to mitigate any significant risks. |
| Other | Unrestricted funds are donations and other income receivable or generated for the charity without a specified purpose and are available for the general use of the charity. Restricted Funds are funds subject to specific restrictions imposed by donors or by the purpose of the appeal. The purpose and use of the restricted funds is set out in the notes to these accounts. |
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | The charity’s investment powers are governed by the Memorandum and Articles of Association. This permits the charity’s funds to be invested in investments, securities or property as may be thought fit but only after obtaining appropriate advice from a Financial Expert. |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | Unincorporated association |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Name of any person |
Additional information (optional) You may choose to include further statements where relevant about:
| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 | |
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | |
| Relationship with any related parties |
Para 1.51 | |
| Other |
Reference and Administrative details
| Charity name | CONFUCIUS & TAO ASSOCIATION (UK) LTD |
|---|---|
| Other name the charity uses | |
| Registered charity number | 1138997 |
Charity’s principal address 47 SHERNHALL STREET, LONDON, E17 3EY
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole **year ** |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| MR MUN HOONG CHIN |
||||
| CAIYING HE | ||||
| TAK YEUNG CHEUNG |
||||
| HUI GOH PHUA | ||||
– Corporate trustees names of the directors at the date the report was approved
Director name
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
Description of the assets held in this capacity
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
| Type of | Name | Address |
|---|---|---|
| adviser |
Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date
CONFUCIUS & TAO ASSOCIATION (UK)
(A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY)
REPORT AND ACCOUNTS
for the year ended 31 July 2023
COMPANY NO: 07323872 (ENGLAND & WALES)
REGISTERED CHARITY NO: 1138997
CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) REPORT AND ACCOUNTS For the year ended 31 JULY 2023
CONTENTS
| Page | ||
|---|---|---|
| Officers and professional advisers | 1 | |
| Trustees’ report | 2-4 | |
| Independent Examiner’s Report | 5 | |
| Statement of Financial Activities | 6 | |
| Balance sheet | 7 | |
| Notes to the accounts | 8-11 |
CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) OFFICERS AND PROFESSIONAL ADVISERS For the year ended 31 July 2023
| PAGE 1 | ||
|---|---|---|
| Trustees/Directors | D M H Chin ( Chairman) | |
| C Y He | ||
| T Y Cheung | ||
| H G Phua ( Treasurer ) | ||
| Company Number | 07323872 (England & Wales) | |
| Registered Charity Number | 1138997 | |
| Registered Office | The Lord Brooke | |
| 47 Shernhall Street | ||
| Walthamstow | ||
| London E17 3EY | ||
| Charity’s address | The Lord Brooke | |
| 47 Shernhall Street | ||
| Wathamstow | ||
| London E17 3EY | ||
| Independent Examiner | Mei Sim Lai OBE DL FCA FCCA | |
| LaiPeters & Co | ||
| Chartered Accountants | ||
| Suite A | ||
| 6 Honduras Street | ||
| London | ||
| EC1Y 0TH | ||
| Bankers | HSBC Bank | |
| Canada Place | ||
| Canary Wharf | ||
| London | ||
| E14 5AH |
CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) TRUSTEES’ REPORT
For the year ended 31 July 2023
PAGE 2
The trustees present their report and accounts for the year ended 31 July 2023.
CONSTITUTION
Confucius Tao Association (UK) is a company limited by guarantee with no share capital incorporated on 22 July 2010. The company was granted charity status on 12 November 2010 and is governed by its Memorandum and Articles of Association.
OBJECTIVES OF THE CHARITY
The objects of the charity are:
-
To advance religion for the public benefit by promoting Buddhism and the teachings of the great Tao
-
To promote the mental or spiritual improvement of the community for the public benefit by sponsoring the teachings of Confucius
-
To promote religious and racial harmony for the public benefit by enhancing mutual understanding amongst all races and cultures in the United Kingdom
-
To relieve those in need by provision of charitable, physical or moral assistance, for the public benefit
PUBLIC BENEFIT
The trustees have considered their duty as outlined in Section 4 of the Companies Act 2006 to have due regard to the Charity Commission’s guidance on public benefit. The purpose of the charity is enshrined in its objectives as outlined above. The trustees ensure that this purpose is carried out for the public benefit by delivering a range of suitable activities.
GOVERNANCE AND ORGANISATION
The trustees are responsible for the general control and management of the charity. One person is appointed as the Chairperson of the trustees and duties and responsibilities are allocated amongst the trustees and members. Meetings of the trustees are held throughout the year to deal with matters relating to the running of the charity and activities for members. The charity does not have any employees as its work is carried out by the trustees and its members and volunteers.
DIRECTORS/TRUSTEES
The trustees who have served during the year under review and to the date of signing these accounts are:
D M H Chin (Chairman) C Y He T Y Cheung H G Phua (Treasurer)
Each of the above trustees is also a member and director of the company and each is liable to contribute an amount not exceeding £1 in the event of the company being wound up.
CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARECAPITAL AND A REGISTERED CHARITY ) TRUSTEES’REPORT For the year ended 31 July 2023
PAGE 3
RISK MANAGEMENT
The trustees are aware of the major operational and business risks which the charity faces and are confident that adequate systems are in place to mitigate any significant ris ks.
RESERVES POLICY
The trustees have examined the requirement for free reserves which are those unrestricted funds not invested in fixed assets, designated for special purposes or otherwise committed. The trustees consider that there are sufficient unrestricted funds to carry out the activities of the charity and to meet its running costs for at least 6 months ahead.
INVESTMENT POWERS AND POLICY
The charity’s investment powers are governed by the Memorandum and Articles of Association. This permits the charity’s funds to be invested in investments, securities or property as may be thought fit but only after obtaining appropriate advice from a Financial Expert.
ACHIEVEMENTS AND ACTIVITIES DURING 2022/2023
During the period under review, the organisation continued with its usual charitable activities .The Tea Bar called Lotus Bloom Café has been re-opened after the new renovation in June 2022.Some of the charitable activities are still held online and some are at the property where possible including seminars and other events.
We have applied and were granted the rental licence in March 2023 by the Council for the flat at the property. There was no further progress on the re-submission of the application to the local Council for the change of use of the property.
The charity operates in London but has informal links with other independent charity organisations based in Birmingham and Glasgow. Fundraising was carried out in those locations for the charity.
PURCHASE OF FREEHOLD PROPERTY FOR USE BY THE CHARITY
The charity was successful in purchasing the Freehold property at The Lord Brooke,47 Shernhall Street, Walthamstow in July 2014. The purchase of the property was completed in August 2014. The cost of the Freehold Property was £740,000. With related professional and other costs of £4,259, the total costs of the Freehold Property amounted to £744,259. Further costs were spent on improving the property and converting it into suitable accommodation for the charity, including completing the fitting out of it with fixtures and equipment. Last year, costs were incurred relating to the work needed to create a tea bar on the premises. At 31 July 2023, the total costs on the property amounted to £834,712 ( Note 2 ). Depreciation has been provided on the buildings element of the cost. The original purchase and subsequent improvement costs were funded by donations specifically for this purpose. As at 31 July 2023 the total loans relating to the property that have been generously provided by supporters of the charity amounted to £94,480( 2022 £126,780 ) These are interest free loans with no fixed repayment terms.
CONFUCIUS & TAO ASSOCIATION (UK)
(A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL AND A REGISTERED CHARITY) TRUSTEES’REPORT For the year ended 31 July 2023
PAGE 4
The charity submitted a planning application to its local Council, the London Borough of Waltham Forest for change of use of the property from A4 to D1 use. The application was rejected by the Council on 27 January 2016. The trustees were disappointed with the Council’s decision and have obtained professional advice on the next course of action. Further consultations with the Council have since taken place but at the date of these accounts the planning application has not yet been resubmitted.
FINANCIAL REVIEW
The charity had a deficit of £1,865 ( 2022 Surplus £33,981) ) for the year. Total incoming resources for the year amounted to £93,971 ( 2022 £112,452 ). As at 31 July 2023, the total reserves of the charity amounted to £452,637 (2022 £454,502 ).
FUTURE PLANS & DEVELOPMENTS
The trustees continue to review and monitor the situation as regards the use of the property to carry out its charitable work and efforts are being made to raise more funds from its supporters.
STATEMENTOF DIRECTORS/TRUSTEES’RESPONSIBILITIES
The directors/trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the directors/trustees to prepare financial statements for each financial year. which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure. In preparing these financial statements the directors/trustees are required to:
-select suitable accounting policies and then apply them consistently
-make judgements and estimates that are reasonable and prudent
-observe the methods and principles in the Charities SORP
-state whether applicable accounting standards and statements of accounting practice have been followed, subject to any departure disclosed and explained in the financial statements. -prepare the financial statements on the going concern basis and in accordance with applicable accounting standards unless it is inappropriate to presume that the charity will continue in operation.
The directors/trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.
This report was approved by the Board of Trustees on 29 April 2024 and signed on its behalf by
H G PHUA Trustee
CONFUCIUS & TAO ASSOCIATION (UK)
(A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY)
INDEPENDENT EXAMINER’S REPORT For the year ended 31 July 2023
PAGE 5
____________
I report on the financial statements of Confucius & Tao Association (UK) (“the charity”) for the year ended 31 July 2023 which are set out on pages 6 to 11.
Respective responsibilities of the Trustees and Independent Examiner
The trustees of the charity (who are also directors of the company for the purposes of company law) are responsible for preparing the financial statements. The trustees of the charity consider that an audit is not required for the year (under section 144 (2) of the Charities Act 2011 (“the Act “) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, I have:
-examined the accounts under section 145 of the 2011 Act
-followed the procedures laid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the 2011 Act; and
- stated whether particular matters have come to my attention.
Basis of Independent Examiner’s Report
My examination was carried out in accordance with General Directives given by the Charity Commission and regulation 11 of the 2006 Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeks explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Independent Examiner’s Statement
In connection with my examination, no matter has come to my attention:
-
1.which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 386 of the Companies Act 2006: and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Companies Act 2006 which are consistent with the method and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached
Mei Sim Lai OBE DL FCA FCCA
LaiPeters & Co, Chartered Accountants Suite A 6 Honduras Street London EC2M 1NH 29 April 2024
CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) For the year ended 31 July 2023
PAGE 6
| Notes INCOMING RESOURCES Incoming resources from generated Funds Voluntary income Donations , grants and other incoming resources 3 Interest receivable 3 Total incoming resources RESOURCES EXPENDED Raising funds 4 Charitable activities Total resources expended Net (outgoing)/incoming resources Transfer of funds Total funds brought forward Total funds carried forward |
Unrestricted Funds Restricted Funds Total 2023 Total 2022 £ £ £ £ 93,882 - 93,882 112,440 89 89 12 |
|---|---|
| 93,882 89 93,971 112,452 |
|
| 20,115 20,115 11,787 27,404 48,317 75,721 66.684 |
|
| 47,519 47,760 95,836 78,471 |
|
| 46,363 (48,228) ( 1,865) 33,981 (5,192) 5,192 411,466 43,036 454,502 420,521 |
|
| 452,637 - 452,637 454,502 |
The charity had no gains or losses during the year other than those shown above. All the above results are derived from continuing activities
The notes on pages 6 to 11 form part of these financial statements.
CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) BALANCE SHEET 31 July 2023
PAGE 7
| Notes FIXED ASSETS Tangible fixed assets 2 CURRENT ASSETS Debtors 7 Cash at bank & in hand CREDITORS: amounts falling due within one year Creditors and Loans 9,10 17 RESERVES Unrestricted funds Restricted funds 11 TOTAL RESERVES |
( |
2023 £ 5,536 62,138 67,674 95,680) |
480,643 ( 28.006) 452,637 452,637 - 452,637 |
2022 £ 5,605 56,075 61,680 (127,880) |
520,702 ( 66,200) 454.502 411,466 43,036 454,502 |
|---|---|---|---|---|---|
The trustees (who are also the directors of the company for the purposes of company law) confirm that for the year ended 31 July 2023:
-
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 (“the Act”)
-
Members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act. However in accordance with section 145 of the Charities Act 2011, the accounts have been examined by an Independent Examiner whose report appears on page 5.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The accounts were approved and authorised for issue by the Board on 29 April 2024 and signed on behalf of the Board of trustees by:
H G PHUA
Trustee Company no : 07323872 ( England & Wales )
CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) NOTES TO THE ACCOUNTS
For the year ended 31 July 2023
PAGE 8
1. ACCOUNTING POLICIES
(a) Basis of preparation of accounts
The financial statements have been prepared under the historical cost convention and comply with the Companies Act 2006. They are prepared in sterling which is the functional currency of the charity. The financial statements have been prepared in accordance with the Statement of Recommended Practice and Reporting by Charities - SORP FRS102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland.
Going Concern
The trustees have the considered the going concern of the charity particularly in the light of the pandemic and its impact on cashflows. They have come to the conclusion that the charity has adequate resources to continue in business for the next 12 months.
(b) Incoming resources Income representing the value of gifts, donations and contributions from members is recognised in full in the Statement of Financial Activities when receivable.
(c) Resources expended
Resources expended include attributable VAT which cannot be recovered
(d) Unrestricted and Restricted Funds
Unrestricted funds are donations and other income receivable or generated for the charity without a specified purpose and are available for the general use of the charity.
Restricted Funds are funds subject to specific restrictions imposed by donors or by the purpose of the appeal. The purpose and use of the restricted funds is set out in the notes to these accounts.
(e) Depreciation
Depreciation is provided at rates calculated to write off the costs of fixed assets, less their residual value, over their expected useful lives on the following basis:
Freehold buildings 5% straight line
Fixtures and equipment 25% reducing balance
(f) Foreign exchange
Transactions in respect of donations from overseas, denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the date of the transaction.
Balances at the year end denominated in a foreign currency are translated into sterling at the rate of exchange at the balance sheet date.
9
CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) NOTES TO THE ACCOUNTS For the year ended 31 July 2023
PAGE 9
2 . TANGIBLE FIXED ASSETS
| Cost At beginning of year Additions during year _ Cost at end of year Depreciation At beginning of year Charge for year At end of year Net Book Value 31 July 2023 31 July 2022 |
Freehold Fixtures and Property Equipment £ £ 834,712 93,957 - 8,258 __ 834,712 102,215 332,075 75,892 41,736 6,581 __ 373,811 82,473 460,901 19,742 502,637 18,065 |
Total £ 928,669 8,258 __ 936,927 407,967 48,317 ____ 456,284 480,643 520,702 |
|---|---|---|
In the opinion of the trustees the current market value of the freehold property is well in excess of £1.2 million based on increases in property prices in the area but in the absence of a formal valuation the actual amount is not known.
3 . INCOMING RESOURCES
| Unrestricted donations Sale of donated and other goods Tea Bar Gift Aid recoverable Income from car parking Meetings and events Uniforms Total unrestricted incoming resources Bank interest receivable - restricted Total Incoming resources |
2023 20221 £ £ 58,730 89,260 8,397 6,544 8,713 3.771 5,389 5,256 4,850 - 6,584 7,390 1,219 219 ______ _____ 93,882 112,440 89 12 93,971 112,452 |
|---|---|
CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) NOTES TO THE ACCOUNTS For the year ended 31 July 2023
PAGE 10
| 4. RESOURCES EXPENDED | ||
|---|---|---|
| 2023 | 2022 | |
| Raising funds: | £ | £ |
| Cost of goods sold | 8,048 | 8,253 |
| Tea Bar costs | 12,067 | 3,534 |
| ------- | -------- | |
| 20,115 | 11,787 | |
| Charitable activities | ||
| Meetings, events and seminar expenses | 2,525 | - |
| Support costs: | ||
| Utilities | 12,856 | 10,739 |
| Insurance | 2,402 | 2,178 |
| Professional Fees | 2,919 | 949 |
| Printing & Stationery | 56 | 131 |
| General Expenses & office costs | 5,446 | 3,827 |
| Governance costs | 1,200 | 1,100 |
| ______ | _____ | |
| Total cost of charitable activities ( unrestricted ) | 27,404 | 18,924 |
| Depreciation of Freehold buildings ( restricted ) | 41,736 | 41,736 |
| Depreciation of Fixtures and Equipment ( restricted) | 6,581 | 6,024 |
| ______ | ______ | |
| Total cost of charitable activities | 95,836 | 78,471 |
| 5. GOVERNANCE COSTS | ||
| 2023 | 2022 | |
| £ | £ | |
| Independent Examiner’s Fee | 1,200 | 1,100 |
| 6 TRUSTEES’ REMUNERATION | ||
| The trustees are not remunerated and no expenses were claimed by the trustees | during the year | |
| . | ||
| 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2023 | 2022 | |
| £ | £ | |
| Prepayment |
100 | 349 |
| Gift Aid recoverable | 5,436 | 5,256 |
| 5,536; | 5,605 | |
| 8. CASH AT BANK | ||
| 2023 | 2022 | |
| £ | £ | |
| Cash in hand | 200 | , 200 |
| Cash at Bank- Current account | 59,697 | 55,589 |
| Cash at Bank- Savings account | 2.241 | 286 |
| 62.138 | 56,075 |
CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) NOTES TO THE ACCOUNTS For the year ended 31 July 2023
PAGE 11
_____________
| 9.CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | 9.CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Accruals | 1,200 | 1,100 |
| 10.LOANS | ||
| 2023 | 2022 | |
| £ | £ | |
| Loans to assist with the purchase of a building for use by the charity 94.480 | 126,780 | |
| The above loans have been provided by supporters of the charity on an interest free basis. No | ||
| repayment terms have been fixed as this will be mutually decided and applied at the appropriate | ||
| date. |
| 11. RESTRICTED FUNDS 2023 £ BUILDING FUND At beginning of year 43,036 Net interest in year 89 Depreciation of buildings and Fixtures & Equipment for year (48,317) Transfer from unrestricted funds 5,192 At end of year - |
2022 £ 90,784 12 (47,760) ______- 43,036 |
|---|---|
12. CONTROL
The charitable company was controlled during the year by the board of directors/trustees.
13. RELATED PARTIES TRANSACTIONS
Donations were received from the Trustees during the year. Apart from this there were no other related parties transactions during the year.
14. EMPLOYEES
The charity did not have any employees during the period under review
CONFUCIUS & TAO ASSOCIATION (UK)
(A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY)
REPORT AND ACCOUNTS
for the year ended 31 July 2023
COMPANY NO: 07323872 (ENGLAND & WALES)
REGISTERED CHARITY NO: 1138997
CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) REPORT AND ACCOUNTS For the year ended 31 JULY 2023
CONTENTS
| Page | ||
|---|---|---|
| Officers and professional advisers | 1 | |
| Trustees’ report | 2-4 | |
| Independent Examiner’s Report | 5 | |
| Statement of Financial Activities | 6 | |
| Balance sheet | 7 | |
| Notes to the accounts | 8-11 |
CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) OFFICERS AND PROFESSIONAL ADVISERS For the year ended 31 July 2023
| PAGE 1 | ||
|---|---|---|
| Trustees/Directors | D M H Chin ( Chairman) | |
| C Y He | ||
| T Y Cheung | ||
| H G Phua ( Treasurer ) | ||
| Company Number | 07323872 (England & Wales) | |
| Registered Charity Number | 1138997 | |
| Registered Office | The Lord Brooke | |
| 47 Shernhall Street | ||
| Walthamstow | ||
| London E17 3EY | ||
| Charity’s address | The Lord Brooke | |
| 47 Shernhall Street | ||
| Wathamstow | ||
| London E17 3EY | ||
| Independent Examiner | Mei Sim Lai OBE DL FCA FCCA | |
| LaiPeters & Co | ||
| Chartered Accountants | ||
| Suite A | ||
| 6 Honduras Street | ||
| London | ||
| EC1Y 0TH | ||
| Bankers | HSBC Bank | |
| Canada Place | ||
| Canary Wharf | ||
| London | ||
| E14 5AH |
CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) TRUSTEES’ REPORT
For the year ended 31 July 2023
PAGE 2
The trustees present their report and accounts for the year ended 31 July 2023.
CONSTITUTION
Confucius Tao Association (UK) is a company limited by guarantee with no share capital incorporated on 22 July 2010. The company was granted charity status on 12 November 2010 and is governed by its Memorandum and Articles of Association.
OBJECTIVES OF THE CHARITY
The objects of the charity are:
-
To advance religion for the public benefit by promoting Buddhism and the teachings of the great Tao
-
To promote the mental or spiritual improvement of the community for the public benefit by sponsoring the teachings of Confucius
-
To promote religious and racial harmony for the public benefit by enhancing mutual understanding amongst all races and cultures in the United Kingdom
-
To relieve those in need by provision of charitable, physical or moral assistance, for the public benefit
PUBLIC BENEFIT
The trustees have considered their duty as outlined in Section 4 of the Companies Act 2006 to have due regard to the Charity Commission’s guidance on public benefit. The purpose of the charity is enshrined in its objectives as outlined above. The trustees ensure that this purpose is carried out for the public benefit by delivering a range of suitable activities.
GOVERNANCE AND ORGANISATION
The trustees are responsible for the general control and management of the charity. One person is appointed as the Chairperson of the trustees and duties and responsibilities are allocated amongst the trustees and members. Meetings of the trustees are held throughout the year to deal with matters relating to the running of the charity and activities for members. The charity does not have any employees as its work is carried out by the trustees and its members and volunteers.
DIRECTORS/TRUSTEES
The trustees who have served during the year under review and to the date of signing these accounts are:
D M H Chin (Chairman) C Y He T Y Cheung H G Phua (Treasurer)
Each of the above trustees is also a member and director of the company and each is liable to contribute an amount not exceeding £1 in the event of the company being wound up.
CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARECAPITAL AND A REGISTERED CHARITY ) TRUSTEES’REPORT For the year ended 31 July 2023
PAGE 3
RISK MANAGEMENT
The trustees are aware of the major operational and business risks which the charity faces and are confident that adequate systems are in place to mitigate any significant ris ks.
RESERVES POLICY
The trustees have examined the requirement for free reserves which are those unrestricted funds not invested in fixed assets, designated for special purposes or otherwise committed. The trustees consider that there are sufficient unrestricted funds to carry out the activities of the charity and to meet its running costs for at least 6 months ahead.
INVESTMENT POWERS AND POLICY
The charity’s investment powers are governed by the Memorandum and Articles of Association. This permits the charity’s funds to be invested in investments, securities or property as may be thought fit but only after obtaining appropriate advice from a Financial Expert.
ACHIEVEMENTS AND ACTIVITIES DURING 2022/2023
During the period under review, the organisation continued with its usual charitable activities .The Tea Bar called Lotus Bloom Café has been re-opened after the new renovation in June 2022.Some of the charitable activities are still held online and some are at the property where possible including seminars and other events.
We have applied and were granted the rental licence in March 2023 by the Council for the flat at the property. There was no further progress on the re-submission of the application to the local Council for the change of use of the property.
The charity operates in London but has informal links with other independent charity organisations based in Birmingham and Glasgow. Fundraising was carried out in those locations for the charity.
PURCHASE OF FREEHOLD PROPERTY FOR USE BY THE CHARITY
The charity was successful in purchasing the Freehold property at The Lord Brooke,47 Shernhall Street, Walthamstow in July 2014. The purchase of the property was completed in August 2014. The cost of the Freehold Property was £740,000. With related professional and other costs of £4,259, the total costs of the Freehold Property amounted to £744,259. Further costs were spent on improving the property and converting it into suitable accommodation for the charity, including completing the fitting out of it with fixtures and equipment. Last year, costs were incurred relating to the work needed to create a tea bar on the premises. At 31 July 2023, the total costs on the property amounted to £834,712 ( Note 2 ). Depreciation has been provided on the buildings element of the cost. The original purchase and subsequent improvement costs were funded by donations specifically for this purpose. As at 31 July 2023 the total loans relating to the property that have been generously provided by supporters of the charity amounted to £94,480( 2022 £126,780 ) These are interest free loans with no fixed repayment terms.
CONFUCIUS & TAO ASSOCIATION (UK)
(A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL AND A REGISTERED CHARITY) TRUSTEES’REPORT For the year ended 31 July 2023
PAGE 4
The charity submitted a planning application to its local Council, the London Borough of Waltham Forest for change of use of the property from A4 to D1 use. The application was rejected by the Council on 27 January 2016. The trustees were disappointed with the Council’s decision and have obtained professional advice on the next course of action. Further consultations with the Council have since taken place but at the date of these accounts the planning application has not yet been resubmitted.
FINANCIAL REVIEW
The charity had a deficit of £1,865 ( 2022 Surplus £33,981) ) for the year. Total incoming resources for the year amounted to £93,971 ( 2022 £112,452 ). As at 31 July 2023, the total reserves of the charity amounted to £452,637 (2022 £454,502 ).
FUTURE PLANS & DEVELOPMENTS
The trustees continue to review and monitor the situation as regards the use of the property to carry out its charitable work and efforts are being made to raise more funds from its supporters.
STATEMENTOF DIRECTORS/TRUSTEES’RESPONSIBILITIES
The directors/trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the directors/trustees to prepare financial statements for each financial year. which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure. In preparing these financial statements the directors/trustees are required to:
-select suitable accounting policies and then apply them consistently
-make judgements and estimates that are reasonable and prudent
-observe the methods and principles in the Charities SORP
-state whether applicable accounting standards and statements of accounting practice have been followed, subject to any departure disclosed and explained in the financial statements. -prepare the financial statements on the going concern basis and in accordance with applicable accounting standards unless it is inappropriate to presume that the charity will continue in operation.
The directors/trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.
This report was approved by the Board of Trustees on 29 April 2024 and signed on its behalf by
H G PHUA Trustee
CONFUCIUS & TAO ASSOCIATION (UK)
(A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY)
INDEPENDENT EXAMINER’S REPORT For the year ended 31 July 2023
PAGE 5
____________
I report on the financial statements of Confucius & Tao Association (UK) (“the charity”) for the year ended 31 July 2023 which are set out on pages 6 to 11.
Respective responsibilities of the Trustees and Independent Examiner
The trustees of the charity (who are also directors of the company for the purposes of company law) are responsible for preparing the financial statements. The trustees of the charity consider that an audit is not required for the year (under section 144 (2) of the Charities Act 2011 (“the Act “) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, I have:
-examined the accounts under section 145 of the 2011 Act
-followed the procedures laid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the 2011 Act; and
- stated whether particular matters have come to my attention.
Basis of Independent Examiner’s Report
My examination was carried out in accordance with General Directives given by the Charity Commission and regulation 11 of the 2006 Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeks explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Independent Examiner’s Statement
In connection with my examination, no matter has come to my attention:
-
1.which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 386 of the Companies Act 2006: and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Companies Act 2006 which are consistent with the method and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached
Mei Sim Lai OBE DL FCA FCCA
LaiPeters & Co, Chartered Accountants Suite A 6 Honduras Street London EC2M 1NH 29 April 2024
CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) For the year ended 31 July 2023
PAGE 6
| Notes INCOMING RESOURCES Incoming resources from generated Funds Voluntary income Donations , grants and other incoming resources 3 Interest receivable 3 Total incoming resources RESOURCES EXPENDED Raising funds 4 Charitable activities Total resources expended Net (outgoing)/incoming resources Transfer of funds Total funds brought forward Total funds carried forward |
Unrestricted Funds Restricted Funds Total 2023 Total 2022 £ £ £ £ 93,882 - 93,882 112,440 89 89 12 |
|---|---|
| 93,882 89 93,971 112,452 |
|
| 20,115 20,115 11,787 27,404 48,317 75,721 66.684 |
|
| 47,519 47,760 95,836 78,471 |
|
| 46,363 (48,228) ( 1,865) 33,981 (5,192) 5,192 411,466 43,036 454,502 420,521 |
|
| 452,637 - 452,637 454,502 |
The charity had no gains or losses during the year other than those shown above. All the above results are derived from continuing activities
The notes on pages 6 to 11 form part of these financial statements.
CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) BALANCE SHEET 31 July 2023
PAGE 7
| Notes FIXED ASSETS Tangible fixed assets 2 CURRENT ASSETS Debtors 7 Cash at bank & in hand CREDITORS: amounts falling due within one year Creditors and Loans 9,10 17 RESERVES Unrestricted funds Restricted funds 11 TOTAL RESERVES |
( |
2023 £ 5,536 62,138 67,674 95,680) |
480,643 ( 28.006) 452,637 452,637 - 452,637 |
2022 £ 5,605 56,075 61,680 (127,880) |
520,702 ( 66,200) 454.502 411,466 43,036 454,502 |
|---|---|---|---|---|---|
The trustees (who are also the directors of the company for the purposes of company law) confirm that for the year ended 31 July 2023:
-
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 (“the Act”)
-
Members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act. However in accordance with section 145 of the Charities Act 2011, the accounts have been examined by an Independent Examiner whose report appears on page 5.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The accounts were approved and authorised for issue by the Board on 29 April 2024 and signed on behalf of the Board of trustees by:
H G PHUA
Trustee Company no : 07323872 ( England & Wales )
CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) NOTES TO THE ACCOUNTS
For the year ended 31 July 2023
PAGE 8
1. ACCOUNTING POLICIES
(a) Basis of preparation of accounts
The financial statements have been prepared under the historical cost convention and comply with the Companies Act 2006. They are prepared in sterling which is the functional currency of the charity. The financial statements have been prepared in accordance with the Statement of Recommended Practice and Reporting by Charities - SORP FRS102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland.
Going Concern
The trustees have the considered the going concern of the charity particularly in the light of the pandemic and its impact on cashflows. They have come to the conclusion that the charity has adequate resources to continue in business for the next 12 months.
(b) Incoming resources Income representing the value of gifts, donations and contributions from members is recognised in full in the Statement of Financial Activities when receivable.
(c) Resources expended
Resources expended include attributable VAT which cannot be recovered
(d) Unrestricted and Restricted Funds
Unrestricted funds are donations and other income receivable or generated for the charity without a specified purpose and are available for the general use of the charity.
Restricted Funds are funds subject to specific restrictions imposed by donors or by the purpose of the appeal. The purpose and use of the restricted funds is set out in the notes to these accounts.
(e) Depreciation
Depreciation is provided at rates calculated to write off the costs of fixed assets, less their residual value, over their expected useful lives on the following basis:
Freehold buildings 5% straight line
Fixtures and equipment 25% reducing balance
(f) Foreign exchange
Transactions in respect of donations from overseas, denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the date of the transaction.
Balances at the year end denominated in a foreign currency are translated into sterling at the rate of exchange at the balance sheet date.
9
CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) NOTES TO THE ACCOUNTS For the year ended 31 July 2023
PAGE 9
2 . TANGIBLE FIXED ASSETS
| Cost At beginning of year Additions during year _ Cost at end of year Depreciation At beginning of year Charge for year At end of year Net Book Value 31 July 2023 31 July 2022 |
Freehold Fixtures and Property Equipment £ £ 834,712 93,957 - 8,258 __ 834,712 102,215 332,075 75,892 41,736 6,581 __ 373,811 82,473 460,901 19,742 502,637 18,065 |
Total £ 928,669 8,258 __ 936,927 407,967 48,317 ____ 456,284 480,643 520,702 |
|---|---|---|
In the opinion of the trustees the current market value of the freehold property is well in excess of £1.2 million based on increases in property prices in the area but in the absence of a formal valuation the actual amount is not known.
3 . INCOMING RESOURCES
| Unrestricted donations Sale of donated and other goods Tea Bar Gift Aid recoverable Income from car parking Meetings and events Uniforms Total unrestricted incoming resources Bank interest receivable - restricted Total Incoming resources |
2023 20221 £ £ 58,730 89,260 8,397 6,544 8,713 3.771 5,389 5,256 4,850 - 6,584 7,390 1,219 219 ______ _____ 93,882 112,440 89 12 93,971 112,452 |
|---|---|
CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) NOTES TO THE ACCOUNTS For the year ended 31 July 2023
PAGE 10
| 4. RESOURCES EXPENDED | ||
|---|---|---|
| 2023 | 2022 | |
| Raising funds: | £ | £ |
| Cost of goods sold | 8,048 | 8,253 |
| Tea Bar costs | 12,067 | 3,534 |
| ------- | -------- | |
| 20,115 | 11,787 | |
| Charitable activities | ||
| Meetings, events and seminar expenses | 2,525 | - |
| Support costs: | ||
| Utilities | 12,856 | 10,739 |
| Insurance | 2,402 | 2,178 |
| Professional Fees | 2,919 | 949 |
| Printing & Stationery | 56 | 131 |
| General Expenses & office costs | 5,446 | 3,827 |
| Governance costs | 1,200 | 1,100 |
| ______ | _____ | |
| Total cost of charitable activities ( unrestricted ) | 27,404 | 18,924 |
| Depreciation of Freehold buildings ( restricted ) | 41,736 | 41,736 |
| Depreciation of Fixtures and Equipment ( restricted) | 6,581 | 6,024 |
| ______ | ______ | |
| Total cost of charitable activities | 95,836 | 78,471 |
| 5. GOVERNANCE COSTS | ||
| 2023 | 2022 | |
| £ | £ | |
| Independent Examiner’s Fee | 1,200 | 1,100 |
| 6 TRUSTEES’ REMUNERATION | ||
| The trustees are not remunerated and no expenses were claimed by the trustees | during the year | |
| . | ||
| 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2023 | 2022 | |
| £ | £ | |
| Prepayment |
100 | 349 |
| Gift Aid recoverable | 5,436 | 5,256 |
| 5,536; | 5,605 | |
| 8. CASH AT BANK | ||
| 2023 | 2022 | |
| £ | £ | |
| Cash in hand | 200 | , 200 |
| Cash at Bank- Current account | 59,697 | 55,589 |
| Cash at Bank- Savings account | 2.241 | 286 |
| 62.138 | 56,075 |
CONFUCIUS & TAO ASSOCIATION (UK) (A COMPANY LIMITED BY GUARANTEE WITH NO SHARE CAPITAL AND A REGISTERED CHARITY) NOTES TO THE ACCOUNTS For the year ended 31 July 2023
PAGE 11
_____________
| 9.CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | 9.CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Accruals | 1,200 | 1,100 |
| 10.LOANS | ||
| 2023 | 2022 | |
| £ | £ | |
| Loans to assist with the purchase of a building for use by the charity 94.480 | 126,780 | |
| The above loans have been provided by supporters of the charity on an interest free basis. No | ||
| repayment terms have been fixed as this will be mutually decided and applied at the appropriate | ||
| date. |
| 11. RESTRICTED FUNDS 2023 £ BUILDING FUND At beginning of year 43,036 Net interest in year 89 Depreciation of buildings and Fixtures & Equipment for year (48,317) Transfer from unrestricted funds 5,192 At end of year - |
2022 £ 90,784 12 (47,760) ______- 43,036 |
|---|---|
12. CONTROL
The charitable company was controlled during the year by the board of directors/trustees.
13. RELATED PARTIES TRANSACTIONS
Donations were received from the Trustees during the year. Apart from this there were no other related parties transactions during the year.
14. EMPLOYEES
The charity did not have any employees during the period under review