REGISTERED CHARITY NUMBER: 1139178
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2024
for
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Sterling 67 Uppingham Road Leicester Leicestershire LE5 3TB
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Report of the Trustees
for the Year Ended 31 March 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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
Jaiantilal Gopal President (resigned 18.5.24) Premabhai Sagar Vice President (resigned 18.5.24) Narsaim Dera Secretary (resigned 18.5.24) Satish Devji Assistant Secretary (resigned 18.5.24) Pramod Tandel President Vinod Aribai Vice President Pankesh Prabhakar Treasurer Ganesh Ucar Secretary Ramgi Sucar Trustee Mohan Dulobo Trustee Cangi Rama Trustee
Independent Examiner
B M Kotecha Sterling 67 Uppingham Road Leicester Leicestershire LE5 3TB
Approved by order of the board of trustees on 19 June 2024 and signed on its behalf by:
Pramod Tandel - 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 2024.
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
19 June 2024
Page 2
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Statement of Financial Activities
for the Year Ended 31 March 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 106,778 Other trading activities 3 39,864 Investment income 4 450 Total 147,092 EXPENDITURE ON Raising funds 5 36,381 Charitable activities 6 Mandir/Puja/Donations 10,508 Social/Religious/Sports/ Educational Event - Other 3,008 Total 49,897 NET INCOME/(EXPENDITURE) 97,195 RECONCILIATION OF FUNDS Total funds brought forward 635,576 TOTAL FUNDS CARRIED FORWARD 732,771 |
Restricted fund £ - - - - 1,234 - 650 - 1,884 (1,884) 2,000 116 |
31.3.24 Total funds £ 106,778 39,864 450 147,092 37,615 10,508 650 3,008 51,781 95,311 637,576 732,887 |
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 |
|---|---|---|---|
The notes form part of these financial statements
Page 3
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Balance Sheet
31 March 2024
| Notes FIXED ASSETS Tangible assets 8 CURRENT ASSETS Debtors 9 Cash at bank and in hand CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 12 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ 317,198 1,269 493,218 494,487 (78,914) 415,573 732,771 732,771 |
Restricted fund £ - - 116 116 - 116 116 116 |
31.3.24 Total funds £ 317,198 1,269 493,334 494,603 (78,914) 415,689 732,887 732,887 732,771 116 732,887 |
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 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 19 June 2024 and were signed on its behalf by:
Pramod Tandel - Trustee
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 2024
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
| Gifts Donations/Members fees-General Grants |
31.3.24 £ 2 106,776 - 106,778 |
31.3.23 £ - 84,182 2,000 86,182 |
|---|---|---|
continued...
Page 5
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
2. DONATIONS AND LEGACIES - continued
Grants received, included in the above, are as follows:
| 31.3.24 31.3.23 |
||
|---|---|---|
| £ £ |
||
| Ward Community Funding | - 2,000 |
|
| 3. | OTHER TRADING ACTIVITIES | |
| Hall & Utensil hire | 31.3.24 31.3.23 £ £ 39,864 32,494 |
|
| 4. | INVESTMENT INCOME | |
| Interest Received | 31.3.24 31.3.23 £ £ 450 26 |
|
| 5. | RAISING FUNDS | |
| Raising donations and legacies | ||
| Rates and water | 31.3.24 31.3.23 £ £ 2,491 2,490 |
|
| Insurance | 1,512 1,142 |
|
| Light and heat | 6,260 6,734 |
|
| Cleaning | 6,634 5,799 |
|
| Postage/Stationery/Telephone | 3,020 1,883 |
|
| Sundries | 556 150 |
|
| Raffle tickets and trophies | 7,638 7,516 |
|
| Food, Plates & Cups | 2,395 1,671 |
|
| Repairs and Maintenance | 3,200 3,312 |
|
| Travelling Exp | 3,690 2,865 |
|
| Bank charges | 219 50 |
|
| 37,615 33,612 |
||
continued...
Page 6
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
6. CHARITABLE ACTIVITIES COSTS
| Mandir/Puja/Donations Social/Religious/Sports/ Educational Event |
Direct Costs £ 10,508 650 11,158 |
|---|---|
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
One of the trustees received £3,300 (2023 - £2,250) for travelling expenses during the period.
8. TANGIBLE FIXED ASSETS
| COST At 1 April 2023 and 31 March 2024 DEPRECIATION At 1 April 2023 Charge for year At 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 |
Freehold property £ 313,134 - - - 313,134 313,134 |
Fixtures and fittings £ 43,784 39,856 982 40,838 2,946 3,928 |
Computer equipment £ 1,907 417 372 789 1,118 1,490 |
Totals £ 358,825 40,273 1,354 41,627 317,198 318,552 |
|---|---|---|---|---|
continued...
Page 7
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
| 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other loans (see note 11) Trade creditors Other creditors 11. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Other loans 12. MOVEMENT IN FUNDS At 1.4.23 £ Unrestricted funds General fund 635,576 Restricted funds Ward Community Funding 2,000 TOTAL FUNDS 637,576 |
31.3.24 £ 1,269 31.3.24 £ 78,313 1 600 78,914 31.3.24 £ 78,313 Net movement in funds £ 97,195 (1,884) 95,311 |
31.3.23 £ 1,258 31.3.23 £ 19,455 - 600 20,055 31.3.23 £ 19,455 At 31.3.24 £ 732,771 116 732,887 |
|---|---|---|
continued...
Page 8
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 147,092 Restricted funds Ward Community Funding - TOTAL FUNDS 147,092 Comparatives for movement in funds At 1.4.22 £ Unrestricted funds General fund 569,657 Restricted funds Ward Community Funding - TOTAL FUNDS 569,657 Comparative 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 |
Resources Movement expended in funds £ £ (49,897) 97,195 (1,884) (1,884) (51,781) 95,311 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 |
|---|---|
continued...
Page 9
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
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 1.4.22 £ 569,657 - 569,657 |
Net movement in funds £ 163,114 116 163,230 |
At 31.3.24 £ 732,771 116 732,887 |
|---|---|---|---|
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 £ 263,794 2,000 265,794 |
Resources Movement expended in funds £ £ (100,680) 163,114 (1,884) 116 (102,564) 163,230 |
|---|---|---|
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
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, and additional property.
continued...
Page 10
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
15. FEES FOR EXAMINING THE ACCOUNTS
The fee charged for preparation and examination of accounts was £600 (2023 £600).
Page 11
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Detailed Statement of Financial Activities for the Year Ended 31 March 2024
| Detailed Statement of Financial Activities for the Year Ended 31 March 2024 |
||
|---|---|---|
| 31.3.24 | 31.3.23 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | 2 | - |
| Donations/Members fees-General | 106,776 | 84,182 |
| Grants | - | 2,000 |
| Other trading activities | 106,778 | 86,182 |
| Hall & Utensil hire | 39,864 | 32,494 |
| Investment income | ||
| Interest Received | 450 | 26 |
| Total incoming resources | 147,092 | 118,702 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Rates and water | 2,491 | 2,490 |
| Insurance | 1,512 | 1,142 |
| Light and heat | 6,260 | 6,734 |
| Cleaning | 6,634 | 5,799 |
| Postage/Stationery/Telephone | 3,020 | 1,883 |
| Sundries | 556 | 150 |
| Raffle tickets and trophies | 7,638 | 7,516 |
| Food, Plates & Cups | 2,395 | 1,671 |
| Repairs and Maintenance | 3,200 | 3,312 |
| Travelling Exp | 3,690 | 2,865 |
| Bank charges | 219 | 50 |
| Charitable activities | 37,615 | 33,612 |
| Mandir/Puja/Donations | 10,508 | 12,705 |
| Hall/Equipment hire/Performers | 650 | - |
| Other | 11,158 | 12,705 |
| Legal & Professional fees | 1,654 | 2,845 |
| Depreciation | 1,354 | 1,621 |
| 3,008 | 4,466 |
This page does not form part of the statutory financial statements
Page 12
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 March 2024 | ||
| 31.3.24 | 31.3.23 | |
| £ | £ | |
| Total resources expended | 51,781 | 50,783 |
| Net income | 95,311 | 67,919 |
This page does not form part of the statutory financial statements
Page 13
SHREE DAMANIA MACHHI MAHAJAN LEICESTER
Contents of the Financial Statements for the Year Ended 31 March 2024
| 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 | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |