REGISTERED CHARITY NUMBER: 1139178
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2023
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 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Report of the Trustees
for the Year Ended 31 March 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
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 8 August 2023 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 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
B M Kotecha
Sterling 67 Uppingham Road Leicester Leicestershire LE5 3TB
8 August 2023
Page 2
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Statement of Financial Activities
for the Year Ended 31 March 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 84,182 Other trading activities 3 32,494 Investment income 4 26 Total 116,702 EXPENDITURE ON Raising funds 5 33,612 Charitable activities 6 Mandir/Puja/Donations 12,705 Other 4,466 Total 50,783 NET INCOME 65,919 RECONCILIATION OF FUNDS Total funds brought forward 569,657 TOTAL FUNDS CARRIED FORWARD 635,576 |
Restricted fund £ 2,000 - - 2,000 - - - - 2,000 - 2,000 |
31.3.23 Total funds £ 86,182 32,494 26 118,702 33,612 12,705 4,466 50,783 67,919 569,657 637,576 |
31.3.22 Total funds £ 42,936 16,666 21 |
|---|---|---|---|
| 59,623 | |||
| 25,586 8,426 2,153 |
|||
| 36,165 | |||
| 23,458 546,199 |
|||
| 569,657 |
The notes form part of these financial statements
Page 3
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Balance Sheet
31 March 2023
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 318,552 CURRENT ASSETS Debtors 9 1,258 Cash at bank and in hand 335,821 337,079 CREDITORS Amounts falling due within one year 10 (20,055) NET CURRENT ASSETS 317,024 TOTAL ASSETS LESS CURRENT LIABILITIES 635,576 NET ASSETS 635,576 FUNDS 12 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - - 2,000 2,000 - 2,000 2,000 2,000 |
31.3.23 Total funds £ 318,552 1,258 337,821 339,079 (20,055) 319,024 637,576 637,576 635,576 2,000 637,576 |
31.3.22 Total funds £ 319,621 890 277,246 278,136 (28,100) 250,036 569,657 569,657 569,657 - 569,657 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 8 August 2023 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 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Freehold property | - not provided |
|---|---|
| Fixtures and fittings | - 25% on reducing balance |
| Computer equipment | - 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 | ||
|---|---|---|
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| Gifts | - | 1 |
| Donations/Members fees-General | 84,182 | 42,935 |
| Grants | 2,000 | - |
| 86,182 | 42,936 | |
| Grants received, included in the above, are as follows: | ||
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| Ward Community Funding | 2,000 | - |
Page 5
continued...
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
| 3. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 31.3.23 | 31.3.22 | ||
| £ | £ | ||
| Hall & Utensil hire | 32,494 | 16,666 | |
| 4. | INVESTMENT INCOME | ||
| 31.3.23 | 31.3.22 | ||
| £ | £ | ||
| Interest Received | 26 | 21 | |
| 5. | RAISING FUNDS | ||
| Raising donations and legacies | |||
| 31.3.23 | 31.3.22 | ||
| £ | £ | ||
| Rates and water | 2,490 | 643 | |
| Insurance | 1,142 | 1,079 | |
| Light and heat | 6,734 | 2,138 | |
| Cleaning | 5,799 | 4,250 | |
| Postage/Stationery/Telephone | 1,883 | 1,104 | |
| Sundries | 150 | 1,099 | |
| Raffle tickets and trophies | 7,516 | 5,573 | |
| Food, Plates & Cups | 1,671 | 729 | |
| Repairs and Maintenance | 3,312 | 4,699 | |
| Travelling Exp | 2,865 | 3,254 | |
| Advertising | - | 1,003 | |
| Bank charges | 50 | 15 | |
| 33,612 | 25,586 | ||
| 6. | CHARITABLE ACTIVITIES COSTS | ||
| Direct | |||
| Costs | |||
| £ | |||
| Mandir/Puja/Donations | 12,705 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
One of the trustees received £2,250 (2022 - £2,750) 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 2023
8. TANGIBLE FIXED ASSETS
| Fixtures Freehold and property fittings £ £ COST At 1 April 2022 313,134 43,470 Additions - 314 At 31 March 2023 313,134 43,784 DEPRECIATION At 1 April 2022 - 38,651 Charge for year - 1,205 At 31 March 2023 - 39,856 NET BOOK VALUE At 31 March 2023 313,134 3,928 At 31 March 2022 313,134 4,819 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 £ 1,668 239 1,907 - 417 417 1,490 1,668 31.3.23 £ 1,258 31.3.23 £ 19,455 600 20,055 31.3.23 £ 19,455 |
Totals £ 358,272 553 |
|---|---|---|
| 358,825 | ||
| 38,651 1,622 |
||
| 40,273 | ||
| 318,552 | ||
| 319,621 | ||
| 31.3.22 £ 890 31.3.22 £ 27,500 600 28,100 31.3.22 £ 27,500 |
continued...
Page 7
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
12. MOVEMENT IN FUNDS
| At 1.4.22 £ Unrestricted funds General fund 569,657 Restricted funds Ward Community Funding - TOTAL FUNDS 569,657 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 116,702 Restricted funds Ward Community Funding 2,000 TOTAL FUNDS 118,702 Comparatives for movement in funds At 1.4.21 £ Unrestricted funds General fund 546,199 TOTAL FUNDS 546,199 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 59,623 TOTAL FUNDS 59,623 |
Net movement At in funds 31.3.23 £ £ 65,919 635,576 2,000 2,000 67,919 637,576 Resources Movement expended in funds £ £ (50,783) 65,919 - 2,000 (50,783) 67,919 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 |
|---|---|
continued...
Page 8
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Ward Community Funding TOTAL FUNDS |
At 1.4.21 £ 546,199 - 546,199 |
Net movement in funds £ 89,377 2,000 91,377 |
At 31.3.23 £ 635,576 2,000 |
|---|---|---|---|
| 637,576 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Ward Community Funding TOTAL FUNDS |
Incoming resources £ 176,325 2,000 178,325 |
Resources Movement expended in funds £ £ (86,948) 89,377 - 2,000 (86,948) 91,377 |
Resources Movement expended in funds £ £ (86,948) 89,377 - 2,000 (86,948) 91,377 |
|---|---|---|---|
| 91,377 |
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
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 (2022 £600).
Page 9
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Detailed Statement of Financial Activities for the Year Ended 31 March 2023
| Detailed Statement of Financial Activities for the Year Ended 31 March 2023 |
||
|---|---|---|
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | - | 1 |
| Donations/Members fees-General | 84,182 | 42,935 |
| Grants | 2,000 | - |
| 86,182 | 42,936 | |
| Other trading activities | ||
| Hall & Utensil hire | 32,494 | 16,666 |
| Investment income | ||
| Interest Received | 26 | 21 |
| Total incoming resources | 118,702 | 59,623 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Rates and water | 2,490 | 643 |
| Insurance | 1,142 | 1,079 |
| Light and heat | 6,734 | 2,138 |
| Cleaning | 5,799 | 4,250 |
| Postage/Stationery/Telephone | 1,883 | 1,104 |
| Sundries | 150 | 1,099 |
| Raffle tickets and trophies | 7,516 | 5,573 |
| Food, Plates & Cups | 1,671 | 729 |
| Repairs and Maintenance | 3,312 | 4,699 |
| Travelling Exp | 2,865 | 3,254 |
| Advertising | - | 1,003 |
| Bank charges | 50 | 15 |
| 33,612 | 25,586 | |
| Charitable activities | ||
| Mandir/Puja/Donations | 12,705 | 8,426 |
| Other | ||
| Legal & Professional fees | 2,845 | 650 |
| Depreciation | 1,621 | 1,503 |
| 4,466 | 2,153 | |
| Total resources expended | 50,783 | 36,165 |
| Net income | 67,919 | 23,458 |
This page does not form part of the statutory financial statements
Page 10