REGISTERED CHARITY NUMBER: 1139178
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2022
for
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Sterling 67 Uppingham Road Leicester Leicestershire LE5 3TB
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Contents of the Financial Statements for the Year Ended 31 March 2022
| 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 | 9 |
| Detailed Statement of Financial Activities | 10 |
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Report of the Trustees
for the Year Ended 31 March 2022
The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1139178
Principal address
103-105 Frisby Road Leicester Leicestershire LE5 0DQ
Trustees
Mr Jaiantilal Gopal President Mr Premabhai Sagar Vice President Mr Narsaim Dera Secretary Mr Satish Devji Assistant Secretary Mr Pankesh Prabhakar Treasurer Mr Pramod Tandel Assistant Treasurer
Independent Examiner
B M Kotecha Sterling 67 Uppingham Road Leicester Leicestershire LE5 3TB
Approved by order of the board of trustees on 26 August 2022 and signed on its behalf by:
Mr Jaiantilal Gopal - Trustee
Page 1
Independent Examiner's Report to the Trustees of SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Independent examiner's report to the trustees of SHREE DAMANIA MACHHI MAHAJAN LEICESTER
I report to the charity trustees on my examination of the accounts of SHREE DAMANIA MACHHI MAHAJAN LEICESTER (the Trust) for the year ended 31 March 2022.
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.
B M Kotecha Sterling 67 Uppingham Road Leicester Leicestershire LE5 3TB
26 August 2022
Page 2
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Statement of Financial Activities for the Year Ended 31 March 2022
| 31.3.22 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 42,936 Other trading activities 3 16,666 Investment income 4 21 Total 59,623 EXPENDITURE ON Raising funds 5 25,586 Charitable activities 6 Mandir/Puja/Donations 8,426 Other 2,153 Total 36,165 NET INCOME 23,458 RECONCILIATION OF FUNDS Total funds brought forward 546,199 TOTAL FUNDS CARRIED FORWARD 569,657 |
31.3.21 Total funds £ 22,061 1,020 21 |
|---|---|
| 23,102 | |
| 11,224 450 2,614 |
|
| 14,288 | |
| 8,814 537,385 |
|
| 546,199 |
The notes form part of these financial statements
Page 3
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Balance Sheet 31 March 2022
| 31.3.22 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 319,621 CURRENT ASSETS Debtors 9 890 Cash at bank and in hand 277,246 278,136 CREDITORS Amounts falling due within one year 10 (28,100) NET CURRENT ASSETS 250,036 TOTAL ASSETS LESS CURRENT LIABILITIES 569,657 NET ASSETS 569,657 FUNDS 12 Unrestricted funds 569,657 TOTAL FUNDS 569,657 |
31.3.21 Total funds £ 320,813 - 259,908 259,908 (34,522) 225,386 546,199 546,199 546,199 546,199 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 26 August 2022 and were signed on its behalf by:
Mr Jaiantilal Gopal - Trustee
Mr Pankesh Prabhakar - Trustee
The notes form part of these financial statements
Page 4
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Notes to the Financial Statements for the Year Ended 31 March 2022
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.
Freehold property - not provided Fixtures and fittings - 25% on reducing balance
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. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| Gifts | 1 | 1 |
| Donations/Members fees-General | 42,935 | 9,956 |
| Grants | - | 12,104 |
| 42,936 | 22,061 | |
| Grants received, included in the above, are as follows: | ||
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| Rates | - | 12,104 |
Page 5
continued...
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
| 3. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 31.3.22 | 31.3.21 | ||
| £ | £ | ||
| Hall & Utensil hire | 16,666 | 1,020 | |
| 4. | INVESTMENT INCOME | ||
| 31.3.22 | 31.3.21 | ||
| £ | £ | ||
| Interest Received | 21 | 21 | |
| 5. | RAISING FUNDS | ||
| Raising donations and legacies | |||
| 31.3.22 | 31.3.21 | ||
| £ | £ | ||
| Rates and water | 643 | 828 | |
| Insurance | 1,079 | 1,065 | |
| Light and heat | 2,138 | 1,104 | |
| Cleaning | 4,250 | 43 | |
| Postage/Stationery/Telephone | 1,104 | 574 | |
| Sundries | 1,099 | 285 | |
| Raffle tickets and trophies | 5,573 | - | |
| Food, Plates & Cups | 729 | 1,884 | |
| Repairs and Maintenance | 4,699 | 3,824 | |
| Travelling Exp | 3,254 | 1,600 | |
| Advertising | 1,003 | - | |
| Bank charges | 15 | 17 | |
| 25,586 | 11,224 | ||
| 6. | CHARITABLE ACTIVITIES COSTS | ||
| Direct | |||
| Costs | |||
| £ | |||
| Mandir/Puja/Donations | 8,426 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
One of the trustees received £2,750 (2021 - £1,600) for travelling expenses during the period.
Page 6
continued...
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
8. TANGIBLE FIXED ASSETS
| Fixtures Freehold and property fittings £ £ COST At 1 April 2021 313,134 43,160 Additions - 310 At 31 March 2022 313,134 43,470 DEPRECIATION At 1 April 2021 - 37,149 Charge for year - 1,502 At 31 March 2022 - 38,651 NET BOOK VALUE At 31 March 2022 313,134 4,819 At 31 March 2021 313,134 6,011 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other loans (see note 11) Other creditors 11. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Other loans |
Computer equipment £ 1,668 - 1,668 - - - 1,668 1,668 31.3.22 £ 890 31.3.22 £ 27,500 600 28,100 31.3.22 £ 27,500 |
Totals £ 357,962 310 |
|---|---|---|
| 358,272 | ||
| 37,149 1,502 |
||
| 38,651 | ||
| 319,621 | ||
| 320,813 | ||
| 31.3.21 £ - 31.3.21 £ 33,750 772 34,522 31.3.21 £ 33,750 |
continued...
Page 7
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
12. MOVEMENT IN FUNDS
| At 1.4.21 £ Unrestricted funds General fund 546,199 TOTAL FUNDS 546,199 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 59,623 TOTAL FUNDS 59,623 Comparatives for movement in funds At 1.4.20 £ Unrestricted funds General fund 537,385 TOTAL FUNDS 537,385 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 23,102 TOTAL FUNDS 23,102 |
Net movement At in funds 31.3.22 £ £ 23,458 569,657 23,458 569,657 Resources Movement expended in funds £ £ (36,165) 23,458 (36,165) 23,458 Net movement At in funds 31.3.21 £ £ 8,814 546,199 8,814 546,199 Resources Movement expended in funds £ £ (14,288) 8,814 (14,288) 8,814 |
|---|---|
continued...
Page 8
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.20 £ 537,385 537,385 |
Net movement in funds £ 32,272 32,272 |
At 31.3.22 £ 569,657 |
|---|---|---|---|
| 569,657 |
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 | 82,725 | (50,453) | 32,272 |
| TOTAL FUNDS | 82,725 | (50,453) | 32,272 |
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
14. OTHER LOANS
These are short term loans from the members and well-wishers, and are interest free and repayable on demand. These were advanced to the Mahajan to facilitate the purchase of the functional property at 103-105 Frisby Road, Leicester. LE5 0DQ
15. FEES FOR EXAMINING THE ACCOUNTS
The fee charged for preparation and examination of accounts was £600 (2021 £660).
Page 9
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Detailed Statement of Financial Activities for the Year Ended 31 March 2022
| Detailed Statement of Financial Activities for the Year Ended 31 March 2022 |
||
|---|---|---|
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | 1 | 1 |
| Donations/Members fees-General | 42,935 | 9,956 |
| Grants | - | 12,104 |
| 42,936 | 22,061 | |
| Other trading activities | ||
| Hall & Utensil hire | 16,666 | 1,020 |
| Investment income | ||
| Interest Received | 21 | 21 |
| Total incoming resources | 59,623 | 23,102 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Rates and water | 643 | 828 |
| Insurance | 1,079 | 1,065 |
| Light and heat | 2,138 | 1,104 |
| Cleaning | 4,250 | 43 |
| Postage/Stationery/Telephone | 1,104 | 574 |
| Sundries | 1,099 | 285 |
| Raffle tickets and trophies | 5,573 | - |
| Food, Plates & Cups | 729 | 1,884 |
| Repairs and Maintenance | 4,699 | 3,824 |
| Travelling Exp | 3,254 | 1,600 |
| Advertising | 1,003 | - |
| Bank charges | 15 | 17 |
| 25,586 | 11,224 | |
| Charitable activities | ||
| Mandir/Puja/Donations | 8,426 | 450 |
| Other | ||
| Legal & Professional fees | 650 | 660 |
| Depreciation | 1,503 | 1,954 |
| 2,153 | 2,614 | |
| Total resources expended | 36,165 | 14,288 |
| Net income | 23,458 | 8,814 |
This page does not form part of the statutory financial statements
Page 10