Ella Kanthan Trust
Charity No. 1145652
Company No. 07729789
Trustees' Report and Unaudited Accounts
31 August 2022
Ella Kanthan Trust Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 1 |
| Statement of Financial Activities | 2 |
| Summary Income and Expenditure Account | 3 |
| Balance Sheet | 4 |
| Notes to the Accounts | 5 |
| Detailed Statement of Financial Activities | 6 to 9 |
Page 1
Ella Kanthan Trust Trustees Annual Report
Eellakkanthan Thirukkovil
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 August 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 07729789
Charity No. 1145652
Registered Office
Unit 1 2 Lythalls Lane Coventry England CV6 6FG
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
Kathirkamathamby Ragunathan Thiyagarajah Ravendrakumar Vasanthy Gunasena
Directors of Corporate Trustees
Gunasena Vasanthy Kajan Thayalan Ragunathan Kathirkamathamby Ravendrakumar Thiyagarajah
Accountants
Ace Accountants & Tax Consultants Ltd 127 Fencepiece Road Ilford Essex IG6 2LD
Bankers
HSBC Bank Plc 422 Foleshill Road West Midlands Coventry CV6 5AL
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 2
Ella Kanthan Trust Trustees Annual Report
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
Thiyagarajah Ravendrakumar Trustee 01 June 2023
Page 3
Ella Kanthan Trust Statement of Financial Activities
for the year ended 31 August 2022
| Notes Income and endowments from: Charitable activities 4 Other 5 Total Expenditure on: Charitable activities 6 Other 7 Total Net gains on investments Net expenditure 8 Transfers between funds Net expenditure before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2022 £ 41,471 8,171 |
Total funds 2022 £ 41,471 8,171 |
Total funds 2021 £ 24,616 12,185 |
|---|---|---|---|
| 49,642 3,228 81,674 |
49,642 3,228 81,674 |
36,801 2,246 53,694 |
|
| 84,902 - |
84,902 - |
55,940 - |
|
| (35,260) - |
(35,260) - |
(19,139) - |
|
| (35,260) | (35,260) | (19,139) | |
| (35,260) (55,767) |
(35,260) (55,767) |
(19,139) (36,628) |
|
| (91,027) | (91,027) | (55,767) |
Page 4
Ella Kanthan Trust Summary Income and Expenditure Account
for the year ended 31 August 2022
| Income Gross income for the year Expenditure Interest payable Depreciation and charges for impairment of fixed assets Total expenditure for the year Net expenditure before tax for the year Net expenditure for the year |
2022 £ 49,642 49,642 83,688 331 883 84,902 (35,260) (35,260) |
2021 £ 36,801 |
|---|---|---|
| 36,801 | ||
| 54,897 62 981 |
||
| 55,940 | ||
| (19,139) | ||
| (19,139) |
Page 5
Ella Kanthan Trust Balance Sheet
at 31 August 2022
| Company No. 07729789 Notes 2022 £ Fixed assets Tangible assets 10 7,942 7,942 Current assets Cash at bank and in hand 1,000 1,000 Creditors:Amount falling due within one year 11 (15,006) Net current liabilities (14,006) Total assets less current liabilities (6,064) Creditors:Amounts falling due after more than one year 12 (84,963) Net liabilities excluding pension asset or liability (91,027) Total net liabilities (91,027) The funds of the charity Restricted funds 13 Unrestricted funds 13 General funds (91,027) (91,027) Reserves 13 Total funds (91,027) |
2021 £ 8,825 |
|---|---|
| 8,825 5,259 |
|
| 5,259 (11,784) |
|
| (6,525) 2,300 (58,067) |
|
| (55,767) | |
| (55,767) | |
| (55,767) | |
| (55,767) | |
| (55,767) |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 August 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 01 June 2023
And signed on its behalf by:
Thiyagarajah Ravendrakumar Trustee
01 June 2023
Page 6
Ella Kanthan Trust Notes to the Accounts
for the year ended 31 August 2022
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 7
Ella Kanthan Trust Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Plant and Machinery 10% Reducing balance
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Page 8
Ella Kanthan Trust Notes to the Accounts
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 9
Ella Kanthan Trust Notes to the Accounts
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
3 Statement of Financial Activities - prior year
| 3 Statement of Financial Activities - prior year |
|||
|---|---|---|---|
| Income and endowments from: Charitable activities Other Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from charitable activities Charitable Activities 5 Other income Other Income |
Unrestricted £ 41,471 41,471 Unrestricted £ 8,171 8,171 |
Unrestricted funds 2021 £ 24,616 12,185 36,801 2,246 53,694 55,940 (19,139) (19,139) (19,139) (36,628) (55,767) Total 2022 £ 41,471 41,471 Total 2022 £ 8,171 8,171 |
Total funds 2021 £ 24,616 12,185 |
| 36,801 2,246 53,694 |
|||
| 55,940 | |||
| (19,139) | |||
| (19,139) | |||
| (19,139) (36,628) |
|||
| (55,767) | |||
| Total 2021 £ 24,616 |
|||
| 24,616 | |||
| Total 2021 £ 12,185 |
|||
| 12,185 |
Page 10
Ella Kanthan Trust Notes to the Accounts
6 Expenditure on charitable activities
| Expenditure on charitable activities Charitable Activities Governance costs 7 Other expenditure Bank loan and overdraft interest payable Employee costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 8 Net expenditure before transfers This is stated after charging: Depreciation of owned fixed assets 9 Staff costs Salaries and wages Pension costs |
Unrestricted £ 3,228 3,228 Unrestricted £ 331 30,408 36,908 883 6,911 6,233 81,674 2022 £ 883 2022 29,996 412 30,408 |
Total 2022 £ 3,228 3,228 Total 2022 £ 331 30,408 36,908 883 6,911 6,233 81,674 |
Total 2021 £ 2,246 |
|---|---|---|---|
| 2,246 | |||
| Total 2021 £ 62 6,847 37,211 981 4,787 3,806 |
|||
| 53,694 | |||
| 2021 £ 981 2021 6,847 - |
|||
| 6,847 |
No employee received emoluments in excess of £60,000.
Page 11
Ella Kanthan Trust Notes to the Accounts
10 Tangible fixed assets
| Plant and Machinery £ Cost or revaluation At 1 September 2021 25,312 At 31 August 2022 25,312 Depreciation and impairment At 1 September 2021 16,487 Depreciation charge for the year 883 At 31 August 2022 17,370 Net book values At 31 August 2022 7,942 At 31 August 2021 8,825 11 Creditors: amounts falling due within one year Bank loans and overdrafts Other taxes and social security Other creditors Accruals 12 Creditors: amounts falling due after more than one year Bank loans and overdrafts Loans from trustees |
TFA 3 £ - - - - - - - 2022 £ 240 518 12,808 1,440 15,006 2022 £ 11,665 73,298 84,963 |
TFA 4 £ - - - - - - - |
Total £ 25,312 |
|---|---|---|---|
| 25,312 | |||
| 16,487 883 |
|||
| 17,370 | |||
| 7,942 | |||
| 8,825 | |||
| 2021 £ - 3 10,541 1,240 |
|||
| 11,784 | |||
| 2021 £ 14,529 43,538 |
|||
| 58,067 |
Page 12
Ella Kanthan Trust Notes to the Accounts
13 Movement in funds
| Restricted funds: Unrestricted funds: General funds Total funds 14 Analysis of net assets between funds Fixed assets Net current assets Creditors due in more than one year 15 Reconciliation of net debt Cash and cash equivalents Bank overdrafts Bank loans Net debt |
At 1 September 2021 (55,767) (55,767) |
Incoming resources (including other gains/losses ) £ 49,642 49,642 Unrestricted funds £ - (14,006) (84,963) (98,969) At 1 September 2021 £ |
Resources expended £ (84,902) (84,902) Restricted funds £ 7,942 - - 7,942 Cash flows £ |
At 31 August 2022 £ (91,027) |
|---|---|---|---|---|
| (91,027) | ||||
| Total £ 7,942 (14,006) (84,963) |
||||
| (91,027) | ||||
| At 31 August 2022 £ |
||||
| 5,259 | (4,259) | 1,000 | ||
| - | (240) | (240) | ||
| 5,259 (14,529) (14,529) (9,270) |
(4,499) 2,864 2,864 (1,635) |
760 (11,665) |
||
| (11,665) | ||||
| (10,905) |
Page 13
Ella Kanthan Trust Notes to the Accounts
16 Commitments
Operating lease commitments
Annual commitments under non-cancellable operating leases are as follows:
| 2022 2022 2021 Land and buildings Other Land and buildings £ £ £ Operating leases with expiry date: Pension commitments 2022 £ The pension cost charge to the company amounted to: 412 17 Related party disclosures Name of related party Mr T Ravendrakumar Description of relationship between the parties Director and trustee of the company Name of related party Mr K Thayalan Description of relationship between the parties Director of the company Name of related party Mr K Ragunathan Description of relationship between the parties Director and trustee of the company Name of related party Mrs G Vasanthy Description of relationship between the parties Director and trustee of the company Name of related party Mr S Makinthan Description of relationship between the parties Director of the company Controlling party |
2021 Other £ 2021 £ - |
|---|---|
Page 14
Ella Kanthan Trust Detailed Statement of Financial Activities
for the year ended 31 August 2022
| Income and endowments from: Charitable activities Charitable Activities Other Other Income Total income and endowments Expenditure on: Charitable activities Charitable Activities Total of expenditure on charitable activities Other expenditure Bank loan and overdraft interest payable Employee costs Salaries/wages Pension costs Premises costs Rent Light, heat and power Water Premises repairs General administrative costs, including depreciation and amortisation Depreciation of Plant and Machinery Bank charges Service charge General insurances Information and Publications Postage and couriers Stationery and printing General expenses |
Unrestricted funds 2022 £ 41,471 41,471 8,171 8,171 49,642 3,228 3,228 3,228 331 331 29,996 412 30,408 18,360 1,079 417 17,052 36,908 883 150 - 436 200 - 97 5,526 |
Total funds 2022 £ 41,471 41,471 8,171 8,171 49,642 3,228 3,228 3,228 331 331 29,996 412 30,408 18,360 1,079 417 17,052 36,908 883 150 - 436 200 - 97 5,526 |
Total funds 2021 £ 24,616 |
|---|---|---|---|
| 24,616 | |||
| 12,185 | |||
| 12,185 | |||
| 36,801 2,246 |
|||
| 2,246 | |||
| 2,246 62 |
|||
| 62 | |||
| 6,847 - |
|||
| 6,847 | |||
| 29,960 893 492 5,866 |
|||
| 37,211 | |||
| 981 - 2,820 486 - 79 - 1,000 |
Page 15
Ella Kanthan Trust
Detailed Statement of Financial Activities
| Ella Kanthan Trust Detailed Statement of Financial Activities |
|||
|---|---|---|---|
| Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
502 7,794 800 5,433 6,233 81,674 84,902 - (35,260) (35,260) - (35,260) (55,767) (91,027) |
502 7,794 800 5,433 6,233 81,674 84,902 - (35,260) (35,260) - (35,260) (55,767) (91,027) |
402 |
| 5,768 | |||
| 800 3,006 |
|||
| 3,806 | |||
| 53,694 | |||
| 55,940 - |
|||
| (19,139) | |||
| (19,139) - |
|||
| (19,139) | |||
| (36,628) | |||
| (55,767) |
Page 16