CHARITY REGISTRATION NUMBER: 1159887 Oshwal Elderly Welfare Association CIO Unaudited Financial Statements 31 December 2024 MALDE & CO Chartered Certified Accountsnts 99 Kenton Road Kenton Harrow Middlesex HA3 OAN
Oshwal Elderly Welfare Association CIO Financial Ststements Year ended 31 December 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements The following pages do not forn) part ofthe financial statements Detailed statement of financial activities 16 Notes to the detailed ststement of financial activities 17
Oshwal Elderly Welfare Association CIO Trustees. Annual Report Year ended 31 December 2024 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2024. Reference and admlnlstrative details Registered charlty name Oshwal Elderly Welfare Association CIO 1159887 Charity registratlon number Princlpal office 70 St Edmunds Drive Stanmore Middlesex HA7 2AU The trustees Mrs Bina S. Sh8h-Chairp&rson Dr Dinesh P. Shah- Treasurer Mrs Urmila D. Shah Mr Sobhagchand D. Shah Mrs Vasantiben D. Shah Mr Jayantilal M. Shah Mr Rasik Kari8 Mrs Manjula Kana (Appointed 22 July 2024) (Appointed 22 July 2024) (Retired 22 July 2024) (Retired 22 July 2024) Charlty secretary Mr Sobhagchand D Shah Advisors to Trustees Mr Jayantilal M Shah Mr Dhiraj F Shah Independent examlner Malde & Co 99 Kenton Road Kenton Harrow Middlesex HA3 OAN
Oshwal Elderly Welfare Association CIO Trustees. Annual Report (¢ontlnued) Year ended 31 December 2024 Structure, govemance and management OEWA CIO is a charitable incorporated organisation and is govemed by a constitution dated 12 January 2015. Membershlp Membership is open to persons aged 50 or above who are interested in furthering the purpose of OEWA CIO. The purpose of OEWA CIO is to improve the wèlfare of elderly people by involving them in social and leisure activities, helping them to make and maintain friendships and providing them with inform8tion about their mental and physical health. Membership runs from January to December. The membership fee is £25 for years. For any members joining in the middle of the ye8r, the membership fee is £1 per rem8ining month for that year plus £25 for the following two years. The advantage of becoming member are discounted rates to our popular events and the opportunity to register for OEWA CIO organised holidays. OEWA CIO has appointed charrty trustees to manage the affairs of the CIO 8nd may for that purpose exercise all the powers of the CIO. Details of all trustees that held office during the year is found on page 1. The eligibiltty criteria to become a trustee of OEWA CIO are.. 1. The trustee must be 8 natural person 2. Must be 8g8d 50 years or over 3. Must be a member of OEWA CIO for last 5 years consecutively and can actively take responsibility of smooth running of the Organisation. At every annual general meeting of the members of the CIO, one-third of the charity trustees shall retire from office. At the AGM on 22 July 2024, two Trustees, namely Mrs Manjulaben Kari8 and Mrs Urmi18 Shah retired and were not re-èlected. Two Trustees were e18Cted by Members in accordance with the required procedure. These were Mr Dineshbhai Shah and Mrs Binaben Shah. The Charity Commission has been advised accordingly. Objectives and actlvttie8 The objects of OEWA CIO are. for the public benefit, to relieve isolation and sickness and poor health amongst elderfy people of Indian origin, in particular, but not exclusively. by: 1. Arranging social and leisure activities,. 2. Providing activities. services and facilities designed to meet their welfare needs,. and 3. Providing infomation about other organisations which provide such activities, services and facilities.
Oshwal Elderly Welfare Association CIO Trustees. Annual Report (contlnued) Year ended 31 December 2024 Achlevements and performance In September 2024, OEWA CIO was shortlisted from 300 nominatlons as a flnalisl for the prestigious Harrow's Heroes Award. This is wonderful testament to the passion, hard work and dedication that OEWA CIO commits to caring for ils community, We are so thankful to our volunteers and our Members for their support, patience and encouragement. On 11th September 2024, Shashibhai, Rasikbhai and Manjulaben collect6d awards certificate that honoured this achievement. OEWA CIO held a number of interesting and lively events for members.. 1. 15 Jai?uary 2024.. Celebrating Utlarayan Kile Festival Members celebrated Utlarayan by listening lo an informative PowerPoint presentation about the festival, playing with bright and colourful kites, and dancing to beautiful live music. 2. 25 March 2024.. Double Dhamaka Gelebrating Holi and Mother's Day A beautiful display of Holi with Vibrant Colours. Members enjoyed listening to the story of Holi and dancing to the sweet melodies of Holi songs and throwing colourful confetti at each other when dancing. In th8 aftemoon there were lovely Motherfs Day cel8bration songs. 3. 29 April 2024.. TbUt8 to Raj Kapcor, the gatest showman of Indian Cinem8. A beautiful powerpoint display of his life and his great contribution to Indian Cinema. Members danced to all the famous lilting songs from his most popular films. 4. 3 June 2024 .' 8hajans and Fathers Day together with a presentation by Narayan Seva Sansthan UK. Members listened and joined in beautiful bhajans followed by a talk and short video by Narayan Seva. There was a huge generous donation of sarees by our Members towards Samu Lagans carried out In Ind18 by Narayan Seva. Awesome Songs were dedicated to 811 the fathers and all fathers were appreciated and honoured. 5. 22 July 2024." AGM and Bollywood Zumba After the AGM, members had a fantastic Bollywood Zumba session with Satishbhai Shah. 6. 27 August 2024.. India s Independence Day Members were welcomed with India flags, hals and badges and everyone dressed in the colours of the Indian flag- orange, white and green. EntertaSnment included a deeply moving presentation on the story of India's struggle for Independence and b8autiful live performances of Independence Day songs. In the afternoon Raksha bandhan and Janmashtml songs were played. 7. 23 September 2024.. Navratri Speual Members celebrated Navratri by playing Raas Garba. taking part in the 8artl and listening to a Powerpoint presentation on the story of Navratri.In the aftemoon Ganesh Chalurthi was celebrated. 8. 1 l November 2024.. Diwali Celebrations M&mbers were given divas 8nd were all encouraged to join in various diva dances. Members also enjoyed a PowerPoint Presentation on the ever popular Hindu Diw81i Story of Ram and Sita. As a special treat, our members enjoyed barfi made by the Trustees. In the aftemoon members enjoyed playing dandiya, and members who were disabled or unable to walk comfortably were encouraged to take part by playing whilst sitting on their chairs. 9. 16 December 2024.. Christmas Celebration Members were given special Christmas tree biscuits, listened to the Chrisimas Story and joined in singing Christmas carols. Special Christmas mince pies were made for the members.
Oshwal Elderly Welfare Association CIO Trustees. Annual Report (contlnuedj Year ended 31 December 2024 Members enjoyed the following day trips and holidays.. 1. Febniary-march 2024.. Kolkata, East India with Odisha Tour Members enjoyed a 19 day tour of the spectacular sights of Kolkata, Gangtok, Yangyang, Palling, Darjeeling. Silliguri and Bh8bhaneswar. 2. 5 May 2024." Exbury Gardens/ Steam Railway Membars enjoyed a day trip exploring the picturesque Exbury Gardens. 3. Juty 2024.. Norfolk LavenderBroads two day trip Members enjoyed a steam train adventure through the picturesque Norfolk and a relaxing cruise on the beautiful Norfolk Broads. Next day, Members visited the Lavender Fields followed by Aftemoon Cream tea. 4. July-August 2024.. Cruise HOlaY to Iland and NoNay Members enjoyed relaxing on the cruise. visited Belfast Highlights and Titanic Experien, Iceland Capital Reykjavik, Isafiordan, Akurveri and Alesund and Skolden in NoaY. Financlal review OEWA CIO satisfies the criteria for the exemption from an audit of the financial statements. The result for the period are set out in the financial statements. The net incoming resource for the period was £60.318 and the amount attributable to unrestricted fvnds now stands at £497,128. Reserve pollcy Bearing in mind the aims and objects of the charity, the trustees ensure that unrestricted funds are not invested in fixed and long-term assets, which would stall the progress of the actlvities. The trust8es together with the treasurer are aware that OEWA CIO is holding a large reserve and regularly monitor the situation for any unenvisaged event and ensure that there are adequate free reserves av8ilable for the general pUoSe of OEWA CIO. KPS Hall Fee KPS Hall significantly increased hire charges in 2024. Finally, we would lik8 to thank our members for their continual support. Without our members we would not be able to run OEWA CIO. So a big great THANK YOU to all our members. We ask for forgiveness if knowingly or unknowingly we have hurt anybody's feelings. The trustees, annual report was approved on 6 May 2025 and signed on behalf of the board of truslees by". Mrs Bina S. Shah Trusteelchairperson Mr Sobhagchand D Shah Charity Secretary
Oshwal Elderly Welfare Association CIO Independent Examinerfs Report to the Trustees of Oshwal Elderly Welfare Assoclation CIO Year ended 31 December 2024 I report to the trustees on my examination of the financial statements of Oshwal Elderly Welfare Association CIO ('the charity,) for the year ended 31 December 2024. Responsiblllties and basls of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Char(lies Act 2011 ('the Act,). I report in respect of my examinatlon of the charity's financial statements carried out under section 145 of the 2011 Aci and in Carrying out my examination I have followed all the appllcable Directions given by the Charity Commission under section 145151{b) of the Act. Independent examlnerfs statement I have comploted my examination. I confirm that no materi81 matters have come to my attention in connection with the examination giving me Cause to belleve that in any meterial respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act., or the financial Statements do not accord with those records; or the fi'nancial statements do not comply with the applicable requiremanis concerning the form and content of accounts set out in the Charitles (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examin8tion to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Malde & Co Independeni Examiner 99 Kenton Road Kenton Harrow Middlesex HA3 OAN 6 May 2025
Oshwal Elderly Welfare Association CIO Statement of Flnancial Activities Year ended 31 December 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Income Donations and membership Charitable activities Investment income 20,728 74,950 8.675 3,748 24,476 74,950 8,675 108,101 10,040 43,035 6,368 Total income 104.353 3,748 59,443 Expenditure Expenditure on charitable activities Other expenditure Total expenditure 44,006 29 3,748 47,754 32,291 44.035 3.748 47,783 32.291 Net Income and net movement in lunds 60,318 60,318 27.152 Reconclllatlon of funds Total funds brought fornard Total funds carrled forward 436,810 436,810 497,128 409,658 436,810 497.128 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 8 to 14 fomi part of these financial statements.
Oshwal Elderly Welfare Association CIO Statement of Flnancial Posltion 31 December 2024 2024 2023 Note Fixed assets Tangible fixed 8SS8ts 13 1,955 2,158 Current assets Debtors Cash at bank and in hand 14 1,700 543,952 645,662 1,052 539,250 540,302 Credltors: amounts falling due withln one year Net current assets 15 50,479 105,650 495,173 497.128 434,652 436,810 Total assets less current Ilabilitles Net assets 497,128 436,810 Fund8 of the chartty Unrestricted funds 497,128 497.128 436,810 436,810 Total charity funds 17 These financial statements were approved by the board of trustees and 8Uthorised for issue on 6 May 2025. and are signed on behalf of the board by: Dr Dinesh P. Shah Trusteerrreasurer The notes on pages 8 to 14 fom part of these flnan¢ial statements.
Oshwal Elderly Welfare Association CIO Notes to the Financial Ststements Year ended 31 December 2024 General inforniatlon The charity is a public benefi't entity and a regISted charity in England and W8les an(J is unincorporated. The address of the principal office is 70 St Edmunds Drive, Stanmore, Middlesex, HA7 2AU. ststement of compllance These financial statements have been prepared in Complian with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Pr&tice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP {FRS 102)) and the Charities Act 2011. Accounting policies Basis of preparation The fin8ncial statements have been prepared on the histOriC81 cost basis, as modified by the revaluation of certain finanoal assets and liabilities and investment properties measured at fair value through income or expendrlure. The financial statements are prepared in sterling, which is the functional currency of the entity. Golng concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estlmatlon uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on expèrience and other factors, including expectations of fLrture events that are believed to be reasonable under the circumstances. Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are subjected to restrictions on their expenditure declared by the donor or which have been raised by the charity for a particular purpose. The cost of raising and administering such funds are charged against the specific fund. Incoming resources All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associ8ted with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Oshwal Elderly Welfare Association CIO Notes to the Financial Ststements {conllnuedJ Year ended 31 December 2024 Accounting policies {condnued) Incoming resources (¢ontlnu6dJ income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the valije is derived from the cost to the donor or the estimated resale value. Donated facilities and serrfices are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteer8. Resources expended Expenditure is recognised on an accruals basis as a liabiltty is incued. Expenditure includes VAT, 8nd is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities and events. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries. Including those support costs and costs relating to the governance of the ch8rlty apportloned lo charitable aclivilies. All costs are allocated to expenditur6 categories reflocling the use of the resource. Direct costs attributable lo a single activity are allocated directly lo that activity. Shared costs are 8PPOrtioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tanglble assets Tangible assets are initially recorded at cost, and subsequently ststed at cost less any accumulated depreciation and impaimient losses. Depreclation Depreciation is calculated so as to write off the cost or valuab'on of an asset, less its residual value, over the useful economic lrfe of that asset as follows: Equipment 25Yo reducing balance Impalrment of fixed assets A review for indicators of impairment is Caled out at e8ch reporting date, with the recoverable 8mount being estimated where such indicators exist. Vthere the carrying value exceeds the recoverable amount, the asset is impalred accordiroly. Prior impaiments are also reviewed for possible reversal at each reporting dale. For the purposes of impairnient testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the c8sh- generating unit to which the asset belongs. The cash-generating unit is the smallest identiflable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Oshwal Elderly Welfare Association CIO Notes to the Financial Ststements (contlnuad) Year ended 31 December 2024 Accounting pollcies {ntInued) Flnanclal Instruments A financi81 asset or a fi'nancial liability is recognised only when the entity becomes a party to th8 contr8Ctual provisions of the instrument. Basic financi81 instruments are initially recognised at the amount receivable or parable including any re18ted transaction costs, unless the arrangement constitutes a finsncing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Donatlons and membership Unrestricted Funds Restricted Total Funds Funds 2024 Donatlons Donats'ons 8,281 3,748 12,029 Subscriptions Membership income 12,447 12,447 24,476 20.728 3,748 Unrestricted Funds Restricted Total Funds Funds 2023 Donatlons Donations 2,313 2,313 Subscrfptions Membership income 7,727 7.727 10,040 10,040 Charitable actlvlties Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Luncheon collection Administration fee for holidays Local holidays 39,295 29,801 5,854 39,295 29,801 6,854 74,950 20,018 20,082 2,935 20,018 20,082 2,935 74,950 43,035 43,035 10-
Oshwal Elderly Welfare Association CIO Notes to the Financlal Statements {contlnued) Year ended 31 December 2024 Investment Income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest receivable 8,675 8,676 6,368 6,368 Expendlture on charitable actlvlties by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Miscellaneous holiday costs Luncheon collection Charitable donations Support costs 39,835 176 3,995 39.835 3,924 3,996 47,754 3,748 44,006 3,748 Unrestricted Funds Restricted Total Funds Funds 2023 Miscellaneous holiday costs Lunchéon collection Support costs 5,923 23,097 3,271 5,923 23,097 3,271 32,291 32,291 Expendlture on charttable actlvttles by actlvlty type Activities undertaken directly Support Total funds costs 2024 Total fund 2023 Miscellaneous holiday costs Luncheon collection Charitable donations Govemance costs 5,923 23.097 39,835 3,924 39,835 3,924 3,995 47,764 3,995 3.271 43.759 3.995 32,291 other expendlture Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Loss on disposal of tangible fixed assets held for charity's own use 29 11
Oshwal Elderly Welfare Association CIO Notes to the Financial Statements (¢onLlnuedJ Year ended 31 December 2024 10. Net income Net income is stated after chargingl{crediting)'. 2024 2023 Depreciation of tangible fixed assets Loss on disposal of tangible fixed assets 589 29 718 11. Independent examination fees 2024 2023 Fees payable to the independent examiner for.. Independent examination of the financial statements 1,800 1,440 12. Trustee remuneratlon and expenses The trustees received no remuneration from employment with the charity. 13. Tanglble flxed assets Equipment Total Cost At 1 January 2024 Additions Disposals At 31 December 2024 5,393 415 (215) 5,593 5,393 416 (215) 5,593 Depreciation At 1 January 2024 Charge for the year Disposals At 31 December 2024 3,235 589 (186) 3,638 3.235 589 (186) 3,638 Carrying amount At 31 December 2024 1,955 1.955 At 31 December 2023 2,158 2,158 14. Debtors 2024 2023 Prepayments and accrued income 1,700 1,052 12-
Oshwal Elderly Welfare Association CIO Notes to the Financial Statements (ntIn Year ended 31 December 2024 16. Credltors: amounts falling due wlthln one year 2024 2023 Accmals and deferred income Other creditors 10,272 40.207 13.901 91,749 105,650 50.479 16. Deferred income 2024 2023 Amount deferred in yaar 8,472 12,460 17. Analysis of charltable funds Unrestrlcted funds At 31 December 2024 At 1 January 2024 Income Expenditure Unrestricted Fund 436.810 104,353 (44,035) 497,128 At 31 December 2023 At 1 January 2023 Income Expenditure Unrestricted Fund 409,658 59.443 {32,291) 436,810 Restricted funds At 31 December 2024 At 1 Janu8ry 2024 Income Expenditure Charitsble donations 3,748 {3,748) At 31 December 2023 At 1 January 2023 Income Expenditure Charitable donations 13-
Oshwal Elderly Welfare Association CIO Notes to the Financial Statements {contlnuedJ Year ended 31 December 2024 18. Analys18 of net assets between funds Unrestricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 1,955 545,652 (50,479) 497.128 1,965 $45,652 (50A79) 497,128 Unrestricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 2,158 2,158 540,302 540.302 (105,650) (105,650) 436,810 436.810 14-
Oshwal Elderly Welfare Association CIO Management Information Year ended 31 December 2024 The followlng pages do not forni part of the flnanclal 8tatements. 15-
Oshwal Elderly Welfare Association CIO Detailed Statement of Flnancial Activlties Year ended 31 December 2024 2024 2023 Income Donatlons and membership Donations Membership income 12,029 11447 24,476 2.313 7,727 10,040 Charitable activlties Luncheon collection Administration fee for holidays Local holidays 39,295 29.801 5,854 20,018 20,082 2,935 74,950 43,035 Investment Income Bank interest receivable 8,675 6,368 Total income 108,101 59,443 Expendlture Expendlture on charltable acttvities Insurance Legal and professional fees Depreciation Direct costs for luncheons Miscellaneous costs for holidays Bank charges Charitable donations Sundry expenses Printing postage and stationery 479 1,800 589 39.834 461 1.440 719 23.097 5,923 248 363 3.924 35 730 181 222 47.754 32,291 other expendlture Loss on disposal of tangible fixed assets held for charity's own use 29 Total expenditure 47,783 32,291 Net Income 60,318 27,152 -16-
Oshwal Elderly Welfare Association CIO Notes to the Detslled Statement of Financial Activities Year ended 31 December 2024 2024 2023 Expenditure on charitable actlvities Miscellaneous hollday costs Activities undertaken directly Miscellaneous costs for trips Donations 5,923 3,924 3,924 5.923 Luncheon collectlon Activities undertaken directly Direct costs for luncheons 39,835 23,097 Governance costs Govemance costs - insurance Professional fees Govemance costs - depreciation Bank charges Sundry expenses Printing, poslage and slationery 479 1,800 589 363 34 730 461 1,440 719 248 181 222 3,995 3,271 Expendlture on charitable activitles 47,754 32,291 17-