Charity registration Number 1152984
Hungarian Culture and Heritage society
Unaudited Financial Statements
5 April 2024
Hungarian Culture and Heritage society
Contents
Legal and administrative information 1 Trustees’ and accountants’ reports 2-3 Statement of financial activities 4 Statement of financial position 5-6 Notes to financial statements 7-9
Hungarian Culture and Heritage society Trustees and other information Trustees Istvan Oliver Fatyol Anita Dudas Boldizsar Acsai Anita Lusanska Erika Gyugyei Secretary Istvan Oliver Fatyol Charity Number 1152984 Registered office 20 Coopers Court Church Road London W3 8PN 8PM Accountants JSA Partners London Limited 9a Wick Road Wick Road business Park Burnham On Crouch Essex CM0 8FA
Hungarian Culture and Heritage society
Trustees Strategic Report
The trustee presents his report and the unaudited financial statements of the charity for the year ended 5 April 2024. The trustee is responsible for preparing the trustee’s report and the financial statements in accordance with applicable law and The United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing these financial statements, the trustee is required to :
-
Select suitable accounting policies and then apply them consistently;
-
Observe the methods and principles in the applicable Charities SORP;
-
Make judgements and accounting estimates that are reasonable and prudent;
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustee is responsible to keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable him to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. He is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Aims and activities :
To advance Hungarian arts (and crafts), Hungarian culture and heritage for the public benefit in particular in London by undertaking annual programmes of traditional music and dance, preserving Hungarian historical traditions through running and supporting festivals and country/folk dancing, promoting and supporting artists, craftsmen and craftsmanship (including beading, embroidery and carving).
This report was approved by the board of directors on 06 January 2024 and signed on behalf of the board by:
Istvan Oliver Fatyol Director
Hungarian Culture and Heritage society
Independent examination's report to the Members of the charity on the unaudited financial statements of Hungarian Culture and society.
Accountants’ report
I report on the accounts of the charity for the year ended 5 April 2023 which comprise the Statement of Financial Activities (incorporating, the Income and Expenditure account), the Balance Sheet and the related notes.
Respective responsibilities of trustees and reporting accountant
The trustees (who are also directors of the charity for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required this year under Section 145 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination it is my responsibility to:
-
examine the accounts under Section 145 of the 2011 Act;
-
follow the procedures laid down in the Directions given by the Charity Commission under Section 145(5)(b) of the 2011 Act; and
-
state whether particular matters have come to my attention.
Basis of report
My work was conducted in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements; - to keep accounting records in accordance with Section 386 of the Companies Act 2006 and Section 130 of the Charities Act 2011; and
- to prepare accounts which accord to the accounting records, comply with the accounting requirements of Section 396 of the Companies Act 2006 and the Charities Act 2011 have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mark Hall Partner JSA Partners Accountants
Hungarian Culture and Heritage society
Hungarian Culture and Heritage Society Statement of financial activities Year ended 5 April 2024
| Income from donatons and events | 34859 |
|---|---|
| Expenditure on raising funds | (34641) |
| _ | |
| Net income | 218 |
| Total funds brought forward | 25087 |
| _ | |
| Total funds carried forward | 25305 |
| _ |
Hungarian Culture and Heritage Society
Statement of financial position 5 April 2024
----- Start of picture text -----
2023
Current assets
Debtors -
Cash at bank and in hand 25305
_
25305
Creditors: amounts falling due
-
within one year
_
Net current assets 25305
_
Total assets less current liabilities 25305
_
Net assets 25305
_
Funds
Unrestricted funds 25305
_
Total funds 25305
_
----- End of picture text -----
Hungarian Culture and Heritage Society
Statement of financial position (continued) 5 April 2024
Trustees responsibilities:
• The members have not required the charity to obtain an audit of its financial statements for the year in question in accordance with section 476;
• The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
• The trustees are ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the board of trustees and authorised for issue on 31 January 2021 and are signed on behalf of the board by:
Istvan Oliver Fatyol Trustee Charity registration 1152984
Hungarian Culture and Heritage Society
Notes to the financial statements Year ended 5 April 2024
General information
The charity is registered in United Kingdom. The address of the registered office is 20 Coopers Court, Church Road, London, W3 8PN.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Accounting policies
Basis of preparation
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP '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 in 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 Companies Act 2006. 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.
Taxation
The charity is exempt from corporation tax on its charitable activities.
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 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.
Hungarian Culture and Heritage Society
Trustee’s Remuneration and benefits
There were no trustee’s remuneration or other benefits for the year ended 5 April 2024.
| 6. Unrestricted funds | At | Incoming | Outgoing | At |
|---|---|---|---|---|
| 05/04/2023 | resources | resources | 05/04/2024 | |
| £ | £ | £ | £ | |
| Unrestricted funds | 25087 | 34859 | (34641) | 25305 |
| _ | _ | _ | _ |
Hungarian Culture and Heritage Society
Detailed income Statement year end 5 April 2024
| Turnover | 2024 |
|---|---|
| Donatons and workshop sales | 34859 |
| 34859 | |
| Gross surplus | 34859 |
| Admin Expenses | |
| Rent | (5601) |
| IT (Refund) | (446) |
| Workshop and event expenses | (14930) |
| Fundraising expenses | (13562) |
| Bank Charges | (101) |
| Rounding diference | (1) |
| (34641) |