London Sharad Utsav – Annual Trustees Report 2023
LONDON SHARAD UTSAV
Charity Registration Number : 1160554
ANNUAL TRUSTEES REPORT – YEAR ENDING 2023
The Board of Trustees of the London Sharad Utsav presents the following report for the year 2023 (Jan-Dec 2023).
In 2023 we continued our growth trajectory and further strengthened our strategic relationships with British Council, the High Commission of India in UK and many others.
The year started with our members actively participating in celebrating the birthday of Noble laureate Rabindranath Tagore with a moving presentation to the master and his work which remains relevant even today. The event was in partnership with the Nehru Centre in London and was attended by a wide audience across U.K.
Our flagship event of Durga Puja entered its 15[th] Prestigious Year and was another mega successful event. We had the pleasure of welcoming the high Commissioner of India and Bangladesh, jointly inaugurating the event at Greenford Hall, bringing in the sense of Harmony and eternal ties between the two states of Bengal which celebrate this carnival with same spirit. The event was attended by over 7000 people and continues to be one of its kind, surely turning into one of the largest community event for Ealing and Greenford.
Our operating discipline, planning and financial management are now automated through software whilst we have minimized our cash transactions to negligible amounts . All the disciplines, control and monitoring the trustees has put in place now continue to follow a standard operating principle without any disputes. We continue to focus on due diligence and risk management at all Trustee meetings as a priority. Our financial results for 203 highlight the hard work we have put in. As with every organization it’s the volunteer members who make the difference. Our member base has increased in 2023 to 171 including children and young members, one of the largest in the community. We want to thank each and every community volunteer member of the charity for their hard work, dedication to the cause and unwavering support.
During the Annual General Meeting held in London on the 25[th] Nov 2023, there were a couple of extremely important resolutions which were unanimously passed. This was to ensure that the function of the Charity is in sync with its sister charity Bengal Heritage Foundation and the constitutions for both charities are aligned. Objectives and other activities of the charity remains unchanged. The Resolution was to make London Sharad Utsav constitution akin to a CIO Foundation model – where all responsibility and accountability of charity switched to the trustee board. It also defines how, when trustees will be selected and leave as necessary.
The board of trustees also wish to thank two outgoing trustees –
Mr Dipanjan Majumder and Mrs Pritha Mukherjee
Who reigned from their position end of 2023. Their contribution towards shaping the organization was immense and a big heartfelt thanks to them. Both of them continue to be an active member base for the charity.
1
London Sharad Utsav – Annual Trustees Report 2023
London Sharad Utsav want to sincerely thank the broader community, who regardless of class, colour, race, gender, preferences participate in 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 Bidisha Dutta Sambrita Das
2
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2023
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 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present thei report with the financial statements of the charity for the year ended 31 December 2023. 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
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 Mrs P Mukherjee Trustee (resigned 31.12.23) S Som Trustee Mr S Neogi Trustee K Chatterjee Trustee D Majumdar Trustee (resigned 31.12.23) Mrs S Das Trustee
Company Secretary
Independent Examiner
A S Kalsi & Co, Chartered Accountants 77 Holyhead Road Birmingham West Midlands B21 0LG
CESSATION OF TRADING
The charitable company ceased activities on 31 December 2023.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
==> picture [14 x 16] intentionally omitted <==
Page 1
LONDON SHARAD UTSAV
Report of the Trustees
for the Year Ended 31 December 2023
................................................................. 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 31 December 2023.
Responsibilities and basis of report
2006 ('the 2006 Act').
accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of 2011 Act.
Independent examiner's statement
examination giving me cause to believe:
-
Act; or
-
the accounts do not accord with those records; or
-
the accounts do not any requirement that the an independent examination; or
-
the accounts have not of Recommended their accounts in of Ireland (FRS 102)).
reached.
Ujjal Ghosh
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 2023
| 31.12.23 | 31.12.22 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 57,638 | 54,887 | |
| Other trading activities | 2 | 17,356 | 10,168 |
| Total | 74,994 | 65,055 | |
| EXPENDITURE ON | |||
| Raising funds | 3 | 27,721 | 13,197 |
| Other | 44,952 | 51,334 | |
| Total | 72,673 | 64,531 | |
| NET INCOME | 2,321 | 524 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | (4,064) | (4,588) | |
| TOTAL FUNDS CARRIED FORWARD | (1,743) | (4,064) | |
The notes form part of these financial statements
Page 4
LONDON SHARAD UTSAV
Balance Sheet
31 December 2023
| 31.12.23 | 31.12.22 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Debtors | 7 | 1,855 | 30 |
| Cash at bank and in hand | 5,018 | 4,042 | |
| CREDITORS | 6,873 | 4,072 | |
| Amounts falling due within one year | 8 | (8,616) | (8,136) |
| NET CURRENT ASSETS/(LIABILITIES) | (1,743) | (4,064) | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | (1,743) | (4,064) | |
| NET ASSETS/(LIABILITIES) | (1,743) | (4,064) | |
| FUNDS | 10 | ||
| Unrestricted funds | (1,743) | (4,064) | |
| TOTAL FUNDS | (1,743) | (4,064) | |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 fo the year ended 31 December 2023.
31 December 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial accordance with the requirements of Sections 394 and 395 and which otherwise comply with requirements of the Companies Act 2006 relating to financial statements, so far as applicable to charitable company.
The notes form part of these financial statements
Page 5
continued...
LONDON SHARAD UTSAV
Balance Sheet - continued
31 December 2023
companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue ............................................. 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 2023
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 Charities: Statement of Recommended Practice applicable to charities preparing their accounts 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
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 required in settlement and the amount of the obligation can be measured reliably. Expenditure accounted for on an accruals basis and has been classified under headings that aggregate all cos 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
trustees.
Restrictions arise when specified by the donor or when funds are raised for particular purposes.
statements.
Hire purchase and leasing commitments
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 2023
2. OTHER TRADING ACTIVITIES
| 31.12.23 | 31.12.22 | ||
|---|---|---|---|
| £ | £ | ||
| Fundraising events | 301 | - | |
| Sales Income | 17,055 | 10,168 | |
| 17,356 | 10,168 | ||
| 3. | RAISING FUNDS | ||
| Raising donations and legacies | |||
| Support costs | 31.12.23 £ 18,579 |
31.12.22 £ - |
|
| 4. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| Hire of plant and machinery | 31.12.23 £ 720 |
31.12.22 £ 380 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor fo the year ended 31 December 2022.
Trustees' expenses
31 December 2022.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM | Unrestricted fund £ |
|---|---|
| Donations and legacies | 54,887 |
| Other trading activities | 10,168 |
| Total | 65,055 |
| EXPENDITURE ON | |
| Raising funds | 13,197 |
| Other | 51,334 |
Page 8
continued...
LONDON SHARAD UTSAV
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |
|---|---|---|---|
| Unrestricted | |||
| fund | |||
| £ | |||
| Total | 64,531 | ||
| NET INCOME | 524 | ||
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | (4,588) | ||
| TOTAL FUNDS CARRIED FORWARD | (4,064) | ||
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| Trade debtors | 31.12.23 £ 1,855 |
31.12.22 £ 30 |
|
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| Other loans (see note 9) | 31.12.23 £ 8,406 |
31.12.22 £ 8,136 |
|
| Trade creditors | 210 | - | |
| 8,616 | 8,136 | ||
| 9. | LOANS | ||
| An analysis of the maturity of loans is given below: | |||
| Amounts falling due within one year on demand: | 31.12.23 £ |
31.12.22 £ |
|
| Other loans | 270 | - | |
| Loan from Members | 8,136 | 8,136 | |
| 8,406 | 8,136 | ||
Page 9
continued...
LONDON SHARAD UTSAV
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
10. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 1.1.23 | in funds | 31.12.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | (4,064) | 2,321 | (1,743) |
| TOTAL FUNDS | (4,064) | 2,321 | (1,743) |
| Net movement in funds, included in the above are as follows: | |||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
| General fund | 74,994 | (72,673) | 2,321 |
| TOTAL FUNDS | 74,994 | (72,673) | 2,321 |
| Comparatives for movement in funds | |||
| Unrestricted funds | At 1.1.22 £ |
Net movement in funds £ |
At 31.12.22 £ |
| General fund | (4,588) | 524 | (4,064) |
| TOTAL FUNDS | (4,588) | 524 | (4,064) |
| Comparative net movement in funds, included in the above are as follows: | |||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
| General fund | 65,055 | (64,531) | 524 |
| TOTAL FUNDS | 65,055 | (64,531) | 524 |
Page 10
continued...
LONDON SHARAD UTSAV
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.22 | in funds | 31.12.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | (4,588) | 2,845 | (1,743) |
| TOTAL FUNDS | (4,588) | 2,845 | (1,743) |
above are as follows:
| Unrestricted funds | Incoming Resources resources expended £ £ |
Movement in funds £ |
|---|---|---|
| General fund | 140,049 (137,204) |
2,845 |
| TOTAL FUNDS | 140,049 (137,204) |
2,845 |
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
Page 11
LONDON SHARAD UTSAV
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
| Detailed Statement of Financial Activities for the Year Ended 31 December 2023 |
||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Membership Fees | 20,365 | - |
| Donations | 11,618 | 28,623 |
| Gift aid | 7,722 | 6,465 |
| Sponsorship Income | 16,732 | 18,080 |
| Admissions | - | 1,719 |
| Exceptional items | 1,201 | - |
| Other trading activities | 57,638 | 54,887 |
| Fundraising events | 301 | - |
| Sales Income | 17,055 | 10,168 |
| 17,356 | 10,168 | |
| Total incoming resources | 74,994 | 65,055 |
| EXPENDITURE | ||
| Other trading activities | ||
| Purchases | - | 4,580 |
| Cost Of sales | 9,142 | 8,617 |
| Other | 9,142 | 13,197 |
| Puja Expenses | 6,013 | 1,387 |
| Cultural Program Expenses | 7,002 | 6,180 |
| Storage Costs | 4,135 | 3,576 |
| Charitable Donations | 2,924 | 3,174 |
| Venue Hire Charges | 23,728 | 13,342 |
| Artist Fees | 1,150 | 3,830 |
| Support costs | 44,952 | 31,489 |
| Management | ||
| Postage and stationery | - | 1,244 |
| Transport Costs | 350 | 300 |
| 350 | 1,544 |
This page does not form part of the statutory financial statements
Page 12
LONDON SHARAD UTSAV
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 December 2023 | ||
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Management | ||
| Finance | ||
| Bank charges | 356 | - |
| Human resources | ||
| Software licences | 710 | 659 |
| Other | ||
| Food & Refreshment | 13,351 | 13,663 |
| Other 2 | ||
| Hire of plant and machinery | 720 | 380 |
| Advertising | 2,043 | 581 |
| Travel Expenses | 598 | 1,617 |
| Governance costs | 3,361 | 2,578 |
| Insurance | 180 | 641 |
| Sundries | 118 | 160 |
| Accountancy and legal fees | 153 | 600 |
| 451 | 1,401 | |
| Total resources expended | 72,673 | 64,531 |
| Net income | 2,321 | 524 |
This page does not form part of the statutory financial statements
Page 13
LONDON SHARAD UTSAV
Contents of the Financial Statements for the Year Ended 31 December 2023
| 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 | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2023
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 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present thei report with the financial statements of the charity for the year ended 31 December 2023. 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
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 Mrs P Mukherjee Trustee (resigned 31.12.23) S Som Trustee Mr S Neogi Trustee K Chatterjee Trustee D Majumdar Trustee (resigned 31.12.23) Mrs S Das Trustee
Company Secretary
Independent Examiner
A S Kalsi & Co, Chartered Accountants 77 Holyhead Road Birmingham West Midlands B21 0LG
CESSATION OF TRADING
The charitable company ceased activities on 31 December 2023.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
==> picture [14 x 16] intentionally omitted <==
Page 1
LONDON SHARAD UTSAV
Report of the Trustees
for the Year Ended 31 December 2023
................................................................. 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 31 December 2023.
Responsibilities and basis of report
2006 ('the 2006 Act').
accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of 2011 Act.
Independent examiner's statement
examination giving me cause to believe:
-
Act; or
-
the accounts do not accord with those records; or
-
the accounts do not any requirement that the an independent examination; or
-
the accounts have not of Recommended their accounts in of Ireland (FRS 102)).
reached.
Ujjal Ghosh
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 2023
| 31.12.23 | 31.12.22 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 57,638 | 54,887 | |
| Other trading activities | 2 | 17,356 | 10,168 |
| Total | 74,994 | 65,055 | |
| EXPENDITURE ON | |||
| Raising funds | 3 | 27,721 | 13,197 |
| Other | 44,952 | 51,334 | |
| Total | 72,673 | 64,531 | |
| NET INCOME | 2,321 | 524 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | (4,064) | (4,588) | |
| TOTAL FUNDS CARRIED FORWARD | (1,743) | (4,064) | |
The notes form part of these financial statements
Page 4
LONDON SHARAD UTSAV
Balance Sheet
31 December 2023
| 31.12.23 | 31.12.22 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Debtors | 7 | 1,855 | 30 |
| Cash at bank and in hand | 5,018 | 4,042 | |
| CREDITORS | 6,873 | 4,072 | |
| Amounts falling due within one year | 8 | (8,616) | (8,136) |
| NET CURRENT ASSETS/(LIABILITIES) | (1,743) | (4,064) | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | (1,743) | (4,064) | |
| NET ASSETS/(LIABILITIES) | (1,743) | (4,064) | |
| FUNDS | 10 | ||
| Unrestricted funds | (1,743) | (4,064) | |
| TOTAL FUNDS | (1,743) | (4,064) | |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 fo the year ended 31 December 2023.
31 December 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial accordance with the requirements of Sections 394 and 395 and which otherwise comply with requirements of the Companies Act 2006 relating to financial statements, so far as applicable to charitable company.
The notes form part of these financial statements
Page 5
continued...
LONDON SHARAD UTSAV
Balance Sheet - continued
31 December 2023
companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue ............................................. 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 2023
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 Charities: Statement of Recommended Practice applicable to charities preparing their accounts 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
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 required in settlement and the amount of the obligation can be measured reliably. Expenditure accounted for on an accruals basis and has been classified under headings that aggregate all cos 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
trustees.
Restrictions arise when specified by the donor or when funds are raised for particular purposes.
statements.
Hire purchase and leasing commitments
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 2023
2. OTHER TRADING ACTIVITIES
| 31.12.23 | 31.12.22 | ||
|---|---|---|---|
| £ | £ | ||
| Fundraising events | 301 | - | |
| Sales Income | 17,055 | 10,168 | |
| 17,356 | 10,168 | ||
| 3. | RAISING FUNDS | ||
| Raising donations and legacies | |||
| Support costs | 31.12.23 £ 18,579 |
31.12.22 £ - |
|
| 4. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| Hire of plant and machinery | 31.12.23 £ 720 |
31.12.22 £ 380 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor fo the year ended 31 December 2022.
Trustees' expenses
31 December 2022.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM | Unrestricted fund £ |
|---|---|
| Donations and legacies | 54,887 |
| Other trading activities | 10,168 |
| Total | 65,055 |
| EXPENDITURE ON | |
| Raising funds | 13,197 |
| Other | 51,334 |
Page 8
continued...
LONDON SHARAD UTSAV
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |
|---|---|---|---|
| Unrestricted | |||
| fund | |||
| £ | |||
| Total | 64,531 | ||
| NET INCOME | 524 | ||
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | (4,588) | ||
| TOTAL FUNDS CARRIED FORWARD | (4,064) | ||
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| Trade debtors | 31.12.23 £ 1,855 |
31.12.22 £ 30 |
|
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| Other loans (see note 9) | 31.12.23 £ 8,406 |
31.12.22 £ 8,136 |
|
| Trade creditors | 210 | - | |
| 8,616 | 8,136 | ||
| 9. | LOANS | ||
| An analysis of the maturity of loans is given below: | |||
| Amounts falling due within one year on demand: | 31.12.23 £ |
31.12.22 £ |
|
| Other loans | 270 | - | |
| Loan from Members | 8,136 | 8,136 | |
| 8,406 | 8,136 | ||
Page 9
continued...
LONDON SHARAD UTSAV
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
10. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 1.1.23 | in funds | 31.12.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | (4,064) | 2,321 | (1,743) |
| TOTAL FUNDS | (4,064) | 2,321 | (1,743) |
| Net movement in funds, included in the above are as follows: | |||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
| General fund | 74,994 | (72,673) | 2,321 |
| TOTAL FUNDS | 74,994 | (72,673) | 2,321 |
| Comparatives for movement in funds | |||
| Unrestricted funds | At 1.1.22 £ |
Net movement in funds £ |
At 31.12.22 £ |
| General fund | (4,588) | 524 | (4,064) |
| TOTAL FUNDS | (4,588) | 524 | (4,064) |
| Comparative net movement in funds, included in the above are as follows: | |||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
| General fund | 65,055 | (64,531) | 524 |
| TOTAL FUNDS | 65,055 | (64,531) | 524 |
Page 10
continued...
LONDON SHARAD UTSAV
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.22 | in funds | 31.12.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | (4,588) | 2,845 | (1,743) |
| TOTAL FUNDS | (4,588) | 2,845 | (1,743) |
above are as follows:
| Unrestricted funds | Incoming Resources resources expended £ £ |
Movement in funds £ |
|---|---|---|
| General fund | 140,049 (137,204) |
2,845 |
| TOTAL FUNDS | 140,049 (137,204) |
2,845 |
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
Page 11
LONDON SHARAD UTSAV
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
| Detailed Statement of Financial Activities for the Year Ended 31 December 2023 |
||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Membership Fees | 20,365 | - |
| Donations | 11,618 | 28,623 |
| Gift aid | 7,722 | 6,465 |
| Sponsorship Income | 16,732 | 18,080 |
| Admissions | - | 1,719 |
| Exceptional items | 1,201 | - |
| Other trading activities | 57,638 | 54,887 |
| Fundraising events | 301 | - |
| Sales Income | 17,055 | 10,168 |
| 17,356 | 10,168 | |
| Total incoming resources | 74,994 | 65,055 |
| EXPENDITURE | ||
| Other trading activities | ||
| Purchases | - | 4,580 |
| Cost Of sales | 9,142 | 8,617 |
| Other | 9,142 | 13,197 |
| Puja Expenses | 6,013 | 1,387 |
| Cultural Program Expenses | 7,002 | 6,180 |
| Storage Costs | 4,135 | 3,576 |
| Charitable Donations | 2,924 | 3,174 |
| Venue Hire Charges | 23,728 | 13,342 |
| Artist Fees | 1,150 | 3,830 |
| Support costs | 44,952 | 31,489 |
| Management | ||
| Postage and stationery | - | 1,244 |
| Transport Costs | 350 | 300 |
| 350 | 1,544 |
This page does not form part of the statutory financial statements
Page 12
LONDON SHARAD UTSAV
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 December 2023 | ||
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Management | ||
| Finance | ||
| Bank charges | 356 | - |
| Human resources | ||
| Software licences | 710 | 659 |
| Other | ||
| Food & Refreshment | 13,351 | 13,663 |
| Other 2 | ||
| Hire of plant and machinery | 720 | 380 |
| Advertising | 2,043 | 581 |
| Travel Expenses | 598 | 1,617 |
| Governance costs | 3,361 | 2,578 |
| Insurance | 180 | 641 |
| Sundries | 118 | 160 |
| Accountancy and legal fees | 153 | 600 |
| 451 | 1,401 | |
| Total resources expended | 72,673 | 64,531 |
| Net income | 2,321 | 524 |
This page does not form part of the statutory financial statements
Page 13
LONDON SHARAD UTSAV
Contents of the Financial Statements for the Year Ended 31 December 2023
| 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 | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |