REGISTERED CHARITY NUMBER: 1144464
TRUSTEES' REPORT AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2022
FOR
MADHEPUR EDUCATION AND WELFARE TRUST
Watergates Ltd 109 Coleman Road Leicester LE5 4LE
MADHEPUR EDUCATION AND WELFARE TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2022
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Page
Trustees' Report 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Statement of Financial Position 5
Notes to the Financial Statements 6 to 9
Detailed Statement of Financial Activities 10
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MADHEPUR EDUCATION AND WELFARE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31ST AUGUST 2022
The trustees present their report with the financial statements of the charity for the year ended 31st August 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The relief of financial hardship among people living in the state of Bihar, India, by providing such persons with grants, goods and services to support their basic needs of education, food, clothing and shelter.
Significant activities
Madhepur Education Welfare Trust is funding through donations in the UK to support and run the education institutes in Madhepur Bihar, India.
The activities carried out in Madhepur are the running of the institutes providing education,food,shelter,computing, books and general welfare of the children.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Trustees and volunteers have worked tirelessly to raise funds for the Institute. Also other charities have donated generously in supporting the charity to meet its objectives.
FINANCIAL REVIEW
Financial position
The results for the year are set out in the attached accounts. Incoming resources amounted to £154,938 (2021 : £133,863) and resources expended amounted to £151,488 (2021 : £245,325).This resulted in a surplus of £3,450 (2021: £111,462 deficit).
Reserves policy
The total reserves held by the charity as at 31 August 2022 amounted to £100,797 (2021: £97,347). The Trustees consider it prudent that unrestricted reserves should be sufficient for the charity's use.
The Board of Trustees are satisfied that the charity is in a position to meet all its commitments out of the income generated and that its reserves are sufficient for its purposes at the present time.
FUTURE PLANS
Madhepur Education and Welfare Trust's plans for the next year are :
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to maintain the institute to meet all its needs currently being achieved
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to provide facilities for the children regarding training towards skills needed for employment such as a computer suite and a the use of sewing machines in particular for girls so that they may acquire necessary skills to become dress makers and tailors in the clothing industry
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Organisational structure
The trustees of Madhepur Education Welfare Trust are running two educational institutes in Madhepur, in the state of Bihar, India. In one of the institutes we accommodate approximately 550 boys and in the other institute there are approximately 450 girls. We fund the institutes from the United Kingdom by raising funds from the public.
The funds raised help to provide shelter, food, clothing, stationery, computers and other everyday necessities. We also provide them with health and medication. We have also built various fresh water pumps for the students to have fresh drinking water.
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MADHEPUR EDUCATION AND WELFARE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31ST AUGUST 2022
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1144464
Principal address
Madhepur Education and Welfare Trust 50 Bradbourne Road Leicester Leicestershire LE5 5AL
Trustees
Mr Salim Mohmed Langia Mr Yakub Mohmed Patel
Independent Examiner
Watergates Ltd 109 Coleman Road Leicester LE5 4LE
Approved by order of the board of trustees on 26th May 2023 and signed on its behalf by:
Mr Yakub Mohmed Patel - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MADHEPUR EDUCATION AND WELFARE TRUST
Independent examiner's report to the trustees of Madhepur Education and Welfare Trust
I report to the charity trustees on my examination of the accounts of Madhepur Education and Welfare Trust (the Trust) for the year ended 31st August 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:
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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.
Nazir Malida FCCA
Watergates Ltd 109 Coleman Road Leicester LE5 4LE
26th May 2023
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MADHEPUR EDUCATION AND WELFARE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2022
| 31/8/22 Unrestricted Restricted Total fund fund funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 147,343 - 147,343 Other income 7,595 - 7,595 Total 154,938 - 154,938 EXPENDITURE ON Raising funds 2 4,134 - 4,134 Charitable activities Project work in India 147,354 - 147,354 Total 151,488 - 151,488 NET INCOME/(EXPENDITURE) 3,450 - 3,450 RECONCILIATION OF FUNDS Total funds brought forward 97,347 - 97,347 TOTAL FUNDS CARRIED FORWARD 100,797 - 100,797 |
31/8/21 Total funds £ 124,697 9,166 133,863 6,168 239,157 245,325 (111,462) 208,809 97,347 |
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The notes on page 0 form part of these financial statements
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MADHEPUR EDUCATION AND WELFARE TRUST
STATEMENT OF FINANCIAL POSITION 31ST AUGUST 2022
| Unrestricted Restricted fund fund Notes £ £ CURRENT ASSETS Debtors 5 7,595 - Cash at bank and in hand 94,042 - 101,637 - CREDITORS Amounts falling due within one year 6 (840) - NET CURRENT ASSETS 100,797 - TOTAL ASSETS LESS CURRENT LIABILITIES 100,797 - NET ASSETS 100,797 - FUNDS 7 Unrestricted funds TOTAL FUNDS |
31/8/22 Total funds £ 7,595 94,042 101,637 (840) 100,797 100,797 100,797 100,797 100,797 |
31/8/21 Total funds £ - 98,097 98,097 (750) 97,347 97,347 97,347 97,347 97,347 |
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The financial statements were approved by the Board of Trustees and authorised for issue on 26th May 2023 and were signed on its behalf by:
Mr Yakub Mohmed Patel - Trustee
The notes on page 0 form part of these financial statements
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MADHEPUR EDUCATION AND WELFARE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 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.
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. RAISING FUNDS
RAISING DONATIONS AND LEGACIES
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|31/8/22|31/8/21|
|£|£|
|Support costs|4,134|6,168|
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3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st August 2022 nor for the year ended 31st August 2021.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 31st August 2022 nor for the year ended 31st August 2021.
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MADHEPUR EDUCATION AND WELFARE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
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4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£ £ £
INCOME AND ENDOWMENTS FROM
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Donations and legacies 124,697 124,697
Other income 9,166 - 9,166
Total 133,863 - 133,863
EXPENDITURE ON
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Raising funds 6,168 6,168
Charitable activities
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Project work in India 239,157 239,157
Total 245,325 - 245,325
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NET INCOME/(EXPENDITURE) (111,462) (111,462)
RECONCILIATION OF FUNDS
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Total funds brought forward 208,809 208,809
TOTAL FUNDS CARRIED FORWARD 97,347 - 97,347
5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/22 31/8/21
£ £
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Prepayments and accrued income 7,595
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/22 31/8/21
£ £
Trade creditors 490 -
Other creditors 350 750
840 750
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MADHEPUR EDUCATION AND WELFARE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
7. MOVEMENT IN FUNDS
| At 1.9.21 £ Unrestricted funds General fund 97,347 TOTAL FUNDS 97,347 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 154,938 TOTAL FUNDS 154,938 Comparatives for movement in funds At 1.9.20 £ Unrestricted funds General fund 208,809 TOTAL FUNDS 208,809 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 133,863 TOTAL FUNDS 133,863 |
Net movement At in funds 31.8.22 £ £ 3,450 100,797 3,450 100,797 Resources Movement expended in funds £ £ (151,488) 3,450 (151,488) 3,450 Net movement At in funds 31.8.21 £ £ (111,462) 97,347 (111,462) 97,347 Resources Movement expended in funds £ £ (245,325) (111,462) (245,325) (111,462) |
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MADHEPUR EDUCATION AND WELFARE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2022
7. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| At 1.9.20 £ Unrestricted funds General fund 208,809 |
Net movement At in funds 31.8.22 £ £ (108,012) 100,797 |
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| TOTAL FUNDS 208,809 |
(108,012) 100,797 |
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 TOTAL FUNDS |
Incoming resources £ 288,801 288,801 |
Resources Movement expended in funds £ £ (396,813) (108,012) (396,813) (108,012) |
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8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st August 2022.
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MADHEPUR EDUCATION AND WELFARE TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Other income Interest received - HMRC |
31/8/22 31/8/21 £ £ 147,343 124,697 7,595 9,166 |
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| Total incoming resources EXPENDITURE Charitable activities Project India - Jamia Imdadia Repair & maintenance |
154,938 133,863 147,354 230,365 - 8,792 |
| Support costs Finance Bank charges Exchange gain/loss |
147,354 239,157 438 242 3,256 5,176 |
| Governance costs Accountancy and legal fees |
3,694 5,418 440 750 |
| Total resources expended | 151,488 245,325 |
| Net income/(expenditure) | 3,450 (111,462) |
This page does not form part of the statutory financial statements
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