REGISTERED CHARITY NUMBER: 1142691
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
FOR
SANTOK CHARITABLE FOUNDATION
STGCA LLP t/a Sterling Chartered Accountants 505 Pinner Road Harrow Middlesex HA2 6EH
SANTOK CHARITABLE FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 8 |
| Detailed Statement of Financial Activities | 9 |
SANTOK CHARITABLE FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2023
The trustees present their report with the financial statements of the charity for the year ended 5 April 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The main objectives of the charity are to:
-
a) provide educational support to the under privileged children in underdeveloped countries;
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b) the advancement of Hindu culture and religion amongst the Hindu community throughout the world;
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c) alleviate poverty and sickness amongst the Hindu Community in Asia and underdeveloped countries;
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d) alleviate poverty and sickness resulting from natural disasters throughout the world; and
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e) grant financial assistant, grants and donations to medical and educational establishments.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the period donations received amounted to £75,369 (2022: £95,000).
Grants totalling £42,570 (2022: £31,704) were made to charitable organisations which met the objectives specified in the Trust Deed.
FINANCIAL REVIEW
Funds
The Trustees have developed a policy which aims to distribute income in the form of support to charitable activities. It is anticipated that any surplus income, at the close of the year, would be distributed during the following year while retaining sufficient funds to meet the charity’s stated or planned commitments.
The unrestricted funds at 5 April 2023 amounted to £141,288 (2022: £108,692).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The charity is constituted by a Trust Deed dated 1 November 2010.
The Trust Deed authorises the Trustees to make and hold investments using the general funds of the charity.
Recruitment and appointment of new trustees
There has been an average of three trustees throughout the period.
Organisational structure
The Board of Trustees must, as per the governing document, have at least two Trustees serving at any one time.
Risk management
The trustees regularly review the risks to which the charity is subject to on a rolling basis in order to protect the assets and property of the charity and ensure that they are used to deliver its objectives.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1142691
Page 1
SANTOK CHARITABLE FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2023
Principal address Foresters The Common Stanmore Middlesex HA7 3HP
Trustees
V Pau J Pau
Independent Examiner
STGCA LLP t/a Sterling Chartered Accountants 505 Pinner Road Harrow Middlesex HA2 6EH
PUBLIC BENEFIT
We have referred to the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and planning our future activities. In particular, Trustees consider how planned activities will contribute to the aims and objectives of the charity and we are confident that our activities during the past year have been for the public benefit.
10 Jan 2024
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
Vimal Pau
........................................................................
V Pau - Trustee Vimal Pau (Jan 10, 2024, 11:04am)
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SANTOK CHARITABLE FOUNDATION
Independent examiner's report to the trustees of Santok Charitable Foundation
I report to the charity trustees on my examination of the accounts of Santok Charitable Foundation (the Trust) for the year ended 5 April 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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
Prakash Jariwala (Jan 10, 2024, 1:10pm) Prakash Jariwala BA(Hons) ACA FCCA
STGCA LLP t/a Sterling Chartered Accountants 505 Pinner Road Harrow Middlesex HA2 6EH
10 Jan 2024 Date: .............................................
Page 3
SANTOK CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023
| 5/4/23 | 5/4/22 | ||
|---|---|---|---|
| Unrestricted | |||
| fund | Total funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations | 75,369 | 95,001 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Donations | |||
| 42,773 | 31,890 | ||
| NET INCOME | 32,596 | 63,111 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 108,692 | 45,581 | |
| TOTAL FUNDS CARRIED FORWARD | 141,288 | 108,692 |
The notes form part of these financial statements
Page 4
SANTOK CHARITABLE FOUNDATION
BALANCE SHEET 5 APRIL 2023
| 5/4/23 | 5/4/22 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fund | Total funds | |||
| Notes | £ | £ | ||
| CURRENT ASSETS | ||||
| Cash at bank | 141,288 | 108,692 | ||
| NET CURRENT ASSETS | 141,288 | 108,692 | ||
| TOTAL ASSETS LESS CURRENT | ||||
| LIABILITIES | 141,288 | 108,692 | ||
| NET ASSETS | 141,288 | 108,692 | ||
| FUNDS | 3 | |||
| Unrestricted funds | 141,288 | 108,692 | ||
| TOTAL FUNDS | 141,288 | 108,692 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 10 Jan 2024
Vimal Pau
~~.............................................~~ V Pau - Trustee Vimal Pau (Jan 10, 2024, 11:04am)
The notes form part of these financial statements
Page 5
SANTOK CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 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 2015)', 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.
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
Income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accrual 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.
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.
2. TRUSTEES' REMUNERATION AND BENEFITS
No remuneration or benefit was payable to Trustees' for the year ended 5 April 2023 and for the year ended 5 April 2022.
Trustees' expenses
There were no expenses paid to Trustees' for the year ended 5 April 2023 and for the year ended 5 April 2022.
Page 6
continued...
SANTOK CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2023
3. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net | |||
| movement | |||
| At 6/4/22 | in funds | At 5/4/23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 108,692 | 32,596 | 141,288 |
| TOTAL FUNDS | 108,692 | 32,596 | 141,288 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 75,369 | (42,773) | 32,596 |
| TOTAL FUNDS | 75,369 | (42,773) | 32,596 |
| Comparatives for movement in funds | |||
| Net | |||
| movement | |||
| At 6/4/21 | in funds | At 5/4/22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 45,581 | 63,111 | 108,692 |
| TOTAL FUNDS | 45,581 | 63,111 | 108,692 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 95,001 | (31,890) | 63,111 |
| TOTAL FUNDS | 95,001 | (31,890) | 63,111 |
continued...
Page 7
SANTOK CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2023
3. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | |||
| At 6/4/21 | in funds | At 5/4/23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 45,581 | 95,707 | 141,288 |
| TOTAL FUNDS | 45,581 | 95,707 | 141,288 |
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 | 170,370 | (74,663) | 95,707 |
| TOTAL FUNDS | 170,370 | (74,663) | 95,707 |
4. RELATED PARTY DISCLOSURES
During the period a donation of £75,000 (2022: £95,000) were received from companies where trustee Mr. V Pau and Mr. J Pau are directors.
Page 8
SANTOK CHARITABLE FOUNDATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023
| INCOME AND ENDOWMENTS Donations Donations Total incoming resources EXPENDITURE Charitable activities Donations Support costs Finance Bank charges Total resources expended Net income |
5/4/23 £ 75,369 75,369 42,570 203 42,773 32,596 |
5/4/22 £ 95,001 |
|---|---|---|
| 95,001 31,704 186 |
||
| 31,890 | ||
| 63,111 |
This page does not form part of the statutory financial statements
Page 9
Issuer STERLING Document generated Wed, 10th Jan 2024 10:44:57 UTC Document fingerprint 39ebbcb203aef2d7025f46d84600d128
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