London Sharad Utsav – Annual Trustees Report 2021
LONDON SHARAD UTSAV
Charity Registration Number : 1160554
ANNUAL TRUSTEES REPORT – YEAR ENDING 2021
The Board of Trustees of the London Sharad Utsav presents the following report for the year 2021 (Jan-Dec 2021).
2021 witnessed London Sharad Utsav to emerge from the pandemic and start the process of reestablishing the community connect aligned to our constitution and objectives. Our member base continues to be stronger as we grow as an organization whilst our strategic relationships were strengthened further with the likes of British Council, the High Commission of India in UK and many others.
2021 beginning was marked by the on-going pandemic, lockdowns and several our members suffering from Covid. In true spirit of bonding the support and help received from members. Each other during these difficult times was amazing.
London Sharad Utsav continued its virtual connect with a series of virtual and on-line events in 2021 keeping the connections, bonding and reflections. A key highlight was a session to remember the legendary actor Soumitra Chatterjee, who sadly passed away in late 2020. This was attended by eminent personalities across the world.
In August we celebrated the birthday of Dwarakanath Tagore with the tomb restoration project – a Bengal Heritage Foundation initiative, where Neil Mukherjee from Tagore family attended the programme.
Moving out of the pandemic the first Indian Super Fan League football tournament was held where community players participated in a day long tournament alongside festivities and fair. This was a unique concept where we attracted attendance from people across the UK in a competitive spirit. This will continue to remain one of our key events for the year in future.
After a member only event in 2020 due to covid restrictions, we planned and delivered the largest flagship event in our calendar- the Durga Puja at Ealing Town Hall. The sheer scale of planning with restrictions, pre registrations, timing, crown control and management in pandemic, risk assessment documentation and rehearsals, working with community officers and event managers demonstrated our ability to manage a mega event of this scale. 2021 in spite of restrictions was one of the most successful Durga Puja events since its beginning 13 years back.
Since our changes to management structure, transparent reporting and operating budget controls introduced after audit findings, our financial discipline continues to be very strong. We have minimized our cash transactions to negligible amounts and set process to approve that. All the disciplines, control and monitoring the trustees has put in place are now bearing fruit. We continue to focus on due diligence and risk management at all Trustee meetings as a priority.
Our financial results for 2021 are again a testament to the hard work we have put in.
As with every organization it’s the volunteer members who make the difference. We want to thank each and every community volunteer member of the charity for their hard work, dedication to the cause and unwavering support.
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London Sharad Utsav – Annual Trustees Report 2021
We are embarking into a bigger journey and would also want to thank the broader community, who regardless of class, colour, race, gender, preferences join our events and make it a huge success reflecting the true spirit of a progressive society with human bonding.
Trustees of London Sharad Utsav
Suranjan Som – Chair Debarati Goswami Sourav Niyogi Koushik Chatterjee Jhuma Bhadra Dipanjan Majumder Bidisha Dutta Sambrita Das Pritha Mukherjee
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REGISTERED COMPANY NUMBER: 07386178 (England and Wales) REGISTERED CHARITY NUMBER: 1160554
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2021
for
LONDON SHARAD UTSAV
A S Kalsi & Co, Chartered Accountants 77 Holyhead Road Birmingham West Midlands B21 0LG
LONDON SHARAD UTSAV
Report of the Trustees
for the Year Ended 31 December 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
07386178 (England and Wales)
Registered Charity number
1160554
Registered office
77 HOLYHEAD ROAD BIRMINGHAM West Midlands B21 0LG
Trustees
MRS J Bhadra Trustee Mrs D Goswami Trustee A Guha Trustee (resigned 2.8.21) Mrs P Mukherjee Trustee S Som Trustee Mr S Neogi Trustee (appointed 2.8.21) K Chatterjee Trustee (appointed 2.8.21) D Majumdar Trustee (appointed 2.8.21) Mrs S Das Trustee (appointed 2.8.21)
Company Secretary
Independent Examiner
A S Kalsi & Co, Chartered Accountants 77 Holyhead Road Birmingham West Midlands B21 0LG
Approved by order of the board of trustees on 27 September 2022 and signed on its behalf by:
Page 1
LONDON SHARAD UTSAV
Report of the Trustees for the Year Ended 31 December 2021
MRS J Bhadra - Trustee
Page 2
Independent Examiner's Report to the Trustees of LONDON SHARAD UTSAV
Independent examiner's report to the trustees of LONDON SHARAD UTSAV ('the Company') I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Ujjal Ghosh ICAEW A S Kalsi & Co, Chartered Accountants 77 Holyhead Road Birmingham West Midlands B21 0LG
Date: .............................................
Page 3
LONDON SHARAD UTSAV
Statement of Financial Activities for the Year Ended 31 December 2021
| 31.12.21 | 31.12.20 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 51,265 | 28,850 | |
| Charitable activities | |||
| Charitable Activities | - | 24,840 | |
| Other trading activities | 2 | - | 1,657 |
| Total | 51,265 | 55,347 | |
| EXPENDITURE ON | |||
| Raising funds | 3 | 18,544 | 7,161 |
| Charitable activities | |||
| Charitable Activities | 900 | 1,338 | |
| Other | 23,056 | 39,661 | |
| Total | 42,500 | 48,160 | |
| NET INCOME | 8,765 | 7,187 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | (13,353) | (20,540) | |
| TOTAL FUNDS CARRIED FORWARD | (4,588) | (13,353) | |
The notes form part of these financial statements
Page 4
LONDON SHARAD UTSAV
Balance Sheet
31 December 2021
| 31.12.21 | 31.12.20 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Debtors | 7 | 6,600 | 1,239 |
| Cash at bank and in hand | 421 | 539 | |
| CREDITORS | 7,021 | 1,778 | |
| Amounts falling due within one year | 8 | (11,609) | (15,131) |
| NET CURRENT ASSETS/(LIABILITIES) | (4,588) | (13,353) | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | (4,588) | (13,353) | |
| NET ASSETS/(LIABILITIES) | (4,588) | (13,353) | |
| FUNDS | 10 | ||
| Unrestricted funds | (4,588) | (13,353) | |
| TOTAL FUNDS | (4,588) | (13,353) | |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) 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 financial 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.
The notes form part of these financial statements
Page 5
continued...
LONDON SHARAD UTSAV
Balance Sheet - continued
31 December 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 27 September 2022 and were signed on its behalf by:
J Bhadra - Trustee S Som - Trustee
The notes form part of these financial statements
Page 6
LONDON SHARAD UTSAV
Notes to the Financial Statements for the Year Ended 31 December 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
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 (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 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.
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 corporation 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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Page 7
continued...
LONDON SHARAD UTSAV
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
| 2. | OTHER TRADING ACTIVITIES | |||||||
|---|---|---|---|---|---|---|---|---|
| 31.12.21 | 31.12.20 | |||||||
| £ | £ | |||||||
| Fundraising events | - | 1,657 | ||||||
| 3. | RAISING FUNDS | |||||||
| Raising donations and legacies | ||||||||
| Support costs | 31.12.21 £ 3,884 |
31.12.20 £ 7,161 |
||||||
| 4. | NET INCOME/(EXPENDITURE) | |||||||
| Net income/(expenditure) is stated after charging/(crediting): | ||||||||
| Hire of plant and machinery | 31.12.21 £ 500 |
31.12.20 £ 2,238 |
||||||
| 5. | TRUSTEES' REMUNERATION AND BENEFITS | |||||||
| There were no trustees' remuneration |
or | other | benefits | for | the | year | ended | |
| 31 December 2021 nor for the year ended 31 | December | 2020. | ||||||
| Trustees' expenses | ||||||||
| There were no trustees' expenses paid for the | year ended 31 December 2021 nor for the | |||||||
| year ended 31 December 2020. | ||||||||
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |||||||
| INCOME AND ENDOWMENTS FROM | Unrestricte fund £ |
|||||||
| Donations and legacies | 28,850 | |||||||
| Charitable activities | ||||||||
| Charitable Activities | 24,840 | |||||||
| Other trading activities | 1,657 | |||||||
| Total | 55,347 | |||||||
| EXPENDITURE ON | ||||||||
| Raising funds | 7,161 | |||||||
| Charitable activities | ||||||||
| Charitable Activities | 1,338 |
Page 8
continued...
LONDON SHARAD UTSAV
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
|---|---|---|---|
| Unrestricte | |||
| fund | |||
| £ | |||
| Other | 39,661 | ||
| Total | 48,160 | ||
| NET INCOME | 7,187 | ||
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | (20,540) | ||
| TOTAL FUNDS CARRIED | |||
| FORWARD | (13,353) | ||
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| Trade debtors | 31.12.21 £ 6,600 |
31.12.20 £ - |
|
| Other debtors | - | 1,239 | |
| 6,600 | 1,239 | ||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| Other loans (see note 9) | 31.12.21 £ 9,336 |
31.12.20 £ 13,190 |
|
| Trade creditors | 2,273 | - | |
| Other creditors | - | 941 | |
| Accrued expenses | - | 1,000 | |
| 11,609 | 15,131 | ||
Page 9
continued...
LONDON SHARAD UTSAV
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
9. LOANS
An analysis of the maturity of loans is given below:
| 31.12.21 | 31.12.20 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due within one year on demand: | |||
| Other loans | - | 3,854 | |
| Loan from Members | 9,336 | 9,336 | |
| 9,336 | 13,190 | ||
| MOVEMENT IN FUNDS | |||
| Unrestricted funds | At 1.1.21 £ |
Net movement in funds £ |
At 31.12.21 £ |
| General fund | (13,353) | 8,765 | (4,588) |
| TOTAL FUNDS | (13,353) | 8,765 | (4,588) |
| Net movement in funds, included in the above are as follows: | |||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
| General fund | 51,265 | (42,500) | 8,765 |
| TOTAL FUNDS | 51,265 | (42,500) | 8,765 |
| Comparatives for movement in funds | |||
| Unrestricted funds | At 1.1.20 £ |
Net movement in funds £ |
At 31.12.20 £ |
| General fund | (20,540) | 7,187 | (13,353) |
| TOTAL FUNDS | (20,540) | 7,187 | (13,353) |
10. MOVEMENT IN FUNDS
Page 10
continued...
LONDON SHARAD UTSAV
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | Movement | |
|---|---|---|---|---|
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 55,347 | (48,160) | 7,187 | |
| TOTAL FUNDS | 55,347 | (48,160) | 7,187 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At At 1.1.20 in funds 31.12.21 £ £ £ (20,540) 15,952 (4,588) (20,540) 15,952 (4,588) |
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming Resources resources expended £ £ |
Movement in funds £ |
|---|---|---|
| General fund | 106,612 (90,660) |
15,952 |
| TOTAL FUNDS | 106,612 (90,660) |
15,952 |
Page 11
continued...
LONDON SHARAD UTSAV
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
Page 12
LONDON SHARAD UTSAV
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 December 2021 | ||
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Membership Fees | - | 15,200 |
| Donations | 26,337 | 6,971 |
| Gift aid | 6,328 | 6,379 |
| Sponsorship Income | 15,975 | 300 |
| Admissions | 2,625 | - |
| Other trading activities | 51,265 | 28,850 |
| Fundraising events | - | 1,657 |
| Charitable activities | ||
| Charitable Activities | - | 24,840 |
| Total incoming resources | 51,265 | 55,347 |
| EXPENDITURE | ||
| Other trading activities | ||
| Purchases | 3,638 | - |
| Charitable activities | ||
| Advertising | - | 246 |
| Sundries | 900 | - |
| Other | 900 | 246 |
| Puja Expenses | 524 | 11,058 |
| Cultural Program Expenses | 2,774 | 155 |
| Storage Costs | 3,093 | 2,777 |
| Charitable Donations | 2,594 | 19,379 |
| Venue Hire Charges | 10,545 | 3,402 |
| Artist Fees | 2,710 | 2,390 |
| 22,240 | 39,161 | |
| Support costs | ||
| Management | ||
| Postage and stationery | 2,043 | 934 |
| Carried forward | 2,043 | 934 |
This page does not form part of the statutory financial statements
Page 13
LONDON SHARAD UTSAV
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 December 2021 | ||
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| Management | ||
| Brought forward | 2,043 | 934 |
| Transport Costs | 250 | 300 |
| Finance | 2,293 | 1,234 |
| Bank charges | 91 | 158 |
| Human resources | ||
| Software licences | 701 | - |
| Other | ||
| Food & Refreshment | 8,729 | 2,643 |
| Other 2 | ||
| Hire of plant and machinery | 500 | 2,238 |
| Advertising | 1,367 | - |
| Postage and stationery | - | 706 |
| Travel Expenses | 40 | 1,274 |
| Governance costs | 1,907 | 4,218 |
| Insurance | 108 | - |
| Postage and stationery | 66 | - |
| Sundries | 1,011 | - |
| Accountancy and legal fees | 816 | 500 |
| 2,001 | 500 | |
| Total resources expended | 42,500 | 48,160 |
| Net income | 8,765 | 7,187 |
This page does not form part of the statutory financial statements
Page 14
LONDON SHARAD UTSAV
Contents of the Financial Statements for the Year Ended 31 December 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 12 |
| Detailed Statement of Financial Activities | 13 to 14 |
REGISTERED COMPANY NUMBER: 07386178 (England and Wales) REGISTERED CHARITY NUMBER: 1160554
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2021
for
LONDON SHARAD UTSAV
A S Kalsi & Co, Chartered Accountants 77 Holyhead Road Birmingham West Midlands B21 0LG
LONDON SHARAD UTSAV
Report of the Trustees
for the Year Ended 31 December 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
07386178 (England and Wales)
Registered Charity number
1160554
Registered office
77 HOLYHEAD ROAD BIRMINGHAM West Midlands B21 0LG
Trustees
MRS J Bhadra Trustee Mrs D Goswami Trustee A Guha Trustee (resigned 2.8.21) Mrs P Mukherjee Trustee S Som Trustee Mr S Neogi Trustee (appointed 2.8.21) K Chatterjee Trustee (appointed 2.8.21) D Majumdar Trustee (appointed 2.8.21) Mrs S Das Trustee (appointed 2.8.21)
Company Secretary
Independent Examiner
A S Kalsi & Co, Chartered Accountants 77 Holyhead Road Birmingham West Midlands B21 0LG
Approved by order of the board of trustees on 27 September 2022 and signed on its behalf by:
Page 1
LONDON SHARAD UTSAV
Report of the Trustees for the Year Ended 31 December 2021
MRS J Bhadra - Trustee
Page 2
Independent Examiner's Report to the Trustees of LONDON SHARAD UTSAV
Independent examiner's report to the trustees of LONDON SHARAD UTSAV ('the Company') I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Ujjal Ghosh ICAEW A S Kalsi & Co, Chartered Accountants 77 Holyhead Road Birmingham West Midlands B21 0LG
Date: .............................................
Page 3
LONDON SHARAD UTSAV
Statement of Financial Activities for the Year Ended 31 December 2021
| 31.12.21 | 31.12.20 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 51,265 | 28,850 | |
| Charitable activities | |||
| Charitable Activities | - | 24,840 | |
| Other trading activities | 2 | - | 1,657 |
| Total | 51,265 | 55,347 | |
| EXPENDITURE ON | |||
| Raising funds | 3 | 18,544 | 7,161 |
| Charitable activities | |||
| Charitable Activities | 900 | 1,338 | |
| Other | 23,056 | 39,661 | |
| Total | 42,500 | 48,160 | |
| NET INCOME | 8,765 | 7,187 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | (13,353) | (20,540) | |
| TOTAL FUNDS CARRIED FORWARD | (4,588) | (13,353) | |
The notes form part of these financial statements
Page 4
LONDON SHARAD UTSAV
Balance Sheet
31 December 2021
| 31.12.21 | 31.12.20 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Debtors | 7 | 6,600 | 1,239 |
| Cash at bank and in hand | 421 | 539 | |
| CREDITORS | 7,021 | 1,778 | |
| Amounts falling due within one year | 8 | (11,609) | (15,131) |
| NET CURRENT ASSETS/(LIABILITIES) | (4,588) | (13,353) | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | (4,588) | (13,353) | |
| NET ASSETS/(LIABILITIES) | (4,588) | (13,353) | |
| FUNDS | 10 | ||
| Unrestricted funds | (4,588) | (13,353) | |
| TOTAL FUNDS | (4,588) | (13,353) | |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) 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 financial 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.
The notes form part of these financial statements
Page 5
continued...
LONDON SHARAD UTSAV
Balance Sheet - continued
31 December 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 27 September 2022 and were signed on its behalf by:
J Bhadra - Trustee S Som - Trustee
The notes form part of these financial statements
Page 6
LONDON SHARAD UTSAV
Notes to the Financial Statements for the Year Ended 31 December 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
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 (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 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.
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 corporation 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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
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LONDON SHARAD UTSAV
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
| 2. | OTHER TRADING ACTIVITIES | |||||||
|---|---|---|---|---|---|---|---|---|
| 31.12.21 | 31.12.20 | |||||||
| £ | £ | |||||||
| Fundraising events | - | 1,657 | ||||||
| 3. | RAISING FUNDS | |||||||
| Raising donations and legacies | ||||||||
| Support costs | 31.12.21 £ 3,884 |
31.12.20 £ 7,161 |
||||||
| 4. | NET INCOME/(EXPENDITURE) | |||||||
| Net income/(expenditure) is stated after charging/(crediting): | ||||||||
| Hire of plant and machinery | 31.12.21 £ 500 |
31.12.20 £ 2,238 |
||||||
| 5. | TRUSTEES' REMUNERATION AND BENEFITS | |||||||
| There were no trustees' remuneration |
or | other | benefits | for | the | year | ended | |
| 31 December 2021 nor for the year ended 31 | December | 2020. | ||||||
| Trustees' expenses | ||||||||
| There were no trustees' expenses paid for the | year ended 31 December 2021 nor for the | |||||||
| year ended 31 December 2020. | ||||||||
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |||||||
| INCOME AND ENDOWMENTS FROM | Unrestricte fund £ |
|||||||
| Donations and legacies | 28,850 | |||||||
| Charitable activities | ||||||||
| Charitable Activities | 24,840 | |||||||
| Other trading activities | 1,657 | |||||||
| Total | 55,347 | |||||||
| EXPENDITURE ON | ||||||||
| Raising funds | 7,161 | |||||||
| Charitable activities | ||||||||
| Charitable Activities | 1,338 |
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LONDON SHARAD UTSAV
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
|---|---|---|---|
| Unrestricte | |||
| fund | |||
| £ | |||
| Other | 39,661 | ||
| Total | 48,160 | ||
| NET INCOME | 7,187 | ||
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | (20,540) | ||
| TOTAL FUNDS CARRIED | |||
| FORWARD | (13,353) | ||
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| Trade debtors | 31.12.21 £ 6,600 |
31.12.20 £ - |
|
| Other debtors | - | 1,239 | |
| 6,600 | 1,239 | ||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| Other loans (see note 9) | 31.12.21 £ 9,336 |
31.12.20 £ 13,190 |
|
| Trade creditors | 2,273 | - | |
| Other creditors | - | 941 | |
| Accrued expenses | - | 1,000 | |
| 11,609 | 15,131 | ||
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LONDON SHARAD UTSAV
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
9. LOANS
An analysis of the maturity of loans is given below:
| 31.12.21 | 31.12.20 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due within one year on demand: | |||
| Other loans | - | 3,854 | |
| Loan from Members | 9,336 | 9,336 | |
| 9,336 | 13,190 | ||
| MOVEMENT IN FUNDS | |||
| Unrestricted funds | At 1.1.21 £ |
Net movement in funds £ |
At 31.12.21 £ |
| General fund | (13,353) | 8,765 | (4,588) |
| TOTAL FUNDS | (13,353) | 8,765 | (4,588) |
| Net movement in funds, included in the above are as follows: | |||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
| General fund | 51,265 | (42,500) | 8,765 |
| TOTAL FUNDS | 51,265 | (42,500) | 8,765 |
| Comparatives for movement in funds | |||
| Unrestricted funds | At 1.1.20 £ |
Net movement in funds £ |
At 31.12.20 £ |
| General fund | (20,540) | 7,187 | (13,353) |
| TOTAL FUNDS | (20,540) | 7,187 | (13,353) |
10. MOVEMENT IN FUNDS
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LONDON SHARAD UTSAV
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | Movement | |
|---|---|---|---|---|
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 55,347 | (48,160) | 7,187 | |
| TOTAL FUNDS | 55,347 | (48,160) | 7,187 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At At 1.1.20 in funds 31.12.21 £ £ £ (20,540) 15,952 (4,588) (20,540) 15,952 (4,588) |
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming Resources resources expended £ £ |
Movement in funds £ |
|---|---|---|
| General fund | 106,612 (90,660) |
15,952 |
| TOTAL FUNDS | 106,612 (90,660) |
15,952 |
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LONDON SHARAD UTSAV
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
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LONDON SHARAD UTSAV
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 December 2021 | ||
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Membership Fees | - | 15,200 |
| Donations | 26,337 | 6,971 |
| Gift aid | 6,328 | 6,379 |
| Sponsorship Income | 15,975 | 300 |
| Admissions | 2,625 | - |
| Other trading activities | 51,265 | 28,850 |
| Fundraising events | - | 1,657 |
| Charitable activities | ||
| Charitable Activities | - | 24,840 |
| Total incoming resources | 51,265 | 55,347 |
| EXPENDITURE | ||
| Other trading activities | ||
| Purchases | 3,638 | - |
| Charitable activities | ||
| Advertising | - | 246 |
| Sundries | 900 | - |
| Other | 900 | 246 |
| Puja Expenses | 524 | 11,058 |
| Cultural Program Expenses | 2,774 | 155 |
| Storage Costs | 3,093 | 2,777 |
| Charitable Donations | 2,594 | 19,379 |
| Venue Hire Charges | 10,545 | 3,402 |
| Artist Fees | 2,710 | 2,390 |
| 22,240 | 39,161 | |
| Support costs | ||
| Management | ||
| Postage and stationery | 2,043 | 934 |
| Carried forward | 2,043 | 934 |
This page does not form part of the statutory financial statements
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LONDON SHARAD UTSAV
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 December 2021 | ||
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| Management | ||
| Brought forward | 2,043 | 934 |
| Transport Costs | 250 | 300 |
| Finance | 2,293 | 1,234 |
| Bank charges | 91 | 158 |
| Human resources | ||
| Software licences | 701 | - |
| Other | ||
| Food & Refreshment | 8,729 | 2,643 |
| Other 2 | ||
| Hire of plant and machinery | 500 | 2,238 |
| Advertising | 1,367 | - |
| Postage and stationery | - | 706 |
| Travel Expenses | 40 | 1,274 |
| Governance costs | 1,907 | 4,218 |
| Insurance | 108 | - |
| Postage and stationery | 66 | - |
| Sundries | 1,011 | - |
| Accountancy and legal fees | 816 | 500 |
| 2,001 | 500 | |
| Total resources expended | 42,500 | 48,160 |
| Net income | 8,765 | 7,187 |
This page does not form part of the statutory financial statements
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LONDON SHARAD UTSAV
Contents of the Financial Statements for the Year Ended 31 December 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 12 |
| Detailed Statement of Financial Activities | 13 to 14 |