OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-03-31-accounts

Charity registration number 1163292

SNJ CHARITABLE TRUST CIO

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

SNJ CHARITABLE TRUST CIO

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs Aruna Kalia Mrs Neena Julka (Chair) Mrs Perminder Marwaha Mr Sunil Julka Mr Surinder Julka Mrs Jenny Murphy Mrs Anu Joshi Charity number 1163292 Principal address 67 Wrottesley Rd Tettenhall Wolverhampton WV6 8SG Independent examiner Patara is a trading style of Andersons Accountant & Tax Adv Enterprise House 352 Bearwood Rd Bearwood Birmingham B66 4ET

SNJ CHARITABLE TRUST CIO

CONTENTS

Page
Trustees' Report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the accounts 8 - 13

SNJ CHARITABLE TRUST CIO

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Trust's [governing document], the Charities Act 2011 and "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).

Objectives and activities

The Trust's objects are for the public benefit, the relief of those in need by reason of youth, age, ill-health, disability, finiancial hardship or other social or economic disadvantage.

The policies adopted in furtherance of these objects are the provision of finance to assist the fulfilment of the objectives and there has been no change in these during the year.

The aims of the Trust is to provide financial assistance in support:

Public benefit

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake.

Activities

The Trust carries out the following charitable activities:

Educational Projects

Education is the ladder out of poverty. Unfortunately, getting a degree or vocational qualification is expensive. The trust provides access to education and training to the disadvantaged members of society.

Health Projects

Health is true wealth. Not everyone can afford the healthcare we take for granted.. The Trust help with housing and provide healthcare to those who cannot afford it.

Projects in UK

The Trust provides training in wellbeing and social cohesion for the local community.

SNJ CHARITABLE TRUST CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance

Significant activities and achievements against objectives

The Trust has carried out the following projects:

The charitable activities of the Trust are carried out in project partnership with Act Now Welfare Society, Dehra Dun, India which is registered charitable under The Societies Registration Act 1860AD (Uttrakhand - India). Registration No: 181/2013-014.

Educational Projects:

Health Projects:

Projects in UK

Mental Health Counselling Let's Get Men Talking Bringing People Together Knitters & Natters Yoga Digital Skills Marketing & Media Launch of first video at Diwali Dhamaka Relaunch of www.snjcharitabletrust.org

Financial review

The Trust is funded by donations and gifts from the community and the Trustees.

Reserves policy

It is the policy of the Trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Trust’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Major risks

The Trustees have assessed the major risks to which the Trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The Trust is a Charitable Incorporated Organisation governed by SNJ Charitable Trust set up on the 25th August 2015 whose only voting members are it's Charity Trustees.

SNJ CHARITABLE TRUST CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The Trustees who served during the year and up to the date of signature of the financial statements were:

Mrs Akshama Parashar (Resigned 2 January 2024) Mrs Aruna Kalia Mrs Neena Julka (Chair) Mrs Perminder Marwaha Mr Sunil Julka Mr Surinder Julka Mrs Jenny Murphy Mrs Anu Joshi

Recruitment and appointment of trustees

The recruitment and appointment of trustees is after carrying out a thorough vetting of candidates.

None of the Trustees has any beneficial interest in the Trust.

Organisational structure

The Trust has a Constitution of a Charitable Incorporated Organisation whose only voting members are its charity trustees.

The governing constitution was registered with the Charity Commission of England and Wales on the 25th August 2015.

Induction and training of trustees

Induction training is given to the trustee on appointment. The Trustees are encouraged to attend courses to keep them acquainted with the duties and responsibilities of the Trustees.

Remuneration policy

The Trust has no paid employees.

Relationship with related parties

The Trust has no related parties other than that it works and support organisations with similar charitable objectives.

The Trustees' report was approved by the Board of Trustees.

Mrs Jenny Murphy

Trustee

31 January 2025

SNJ CHARITABLE TRUST CIO

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SNJ CHARITABLE TRUST CIO

We report to the Trustees on my examination of the financial statements of SNJ Charitable Trust CIO (the Trust) for the year ended 31 March 2024.

Responsibilities and basis of report

As the Trustees of the Trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

We report in respect of my examination of the Trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out our examination we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

We 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 financial statements to be reached.

Patara is a trading style of Andersons Accountant & Tax Adv

Enterprise House 352 Bearwood Rd Bearwood Birmingham B66 4ET

Dated: 31 January 2025

SNJ CHARITABLE TRUST CIO

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Notes
Income from:
Donations and gifts
3
Expenditure on:
Health Project
4
Education Project
4
Governance Costs
9
Total resources expended
Net income for the year/
Net movement in funds
Fund balances at 1 April 2023
Fund balances at 31 March 2024		 2024
£
103,181
58,460
4,176
150
62,786
40,395
105,313
145,708		 2023
£
89,159
57,000
6,816
75
63,891
25,268
80,045
105,313

The statement of financial activities includes all gains and losses recognised in the year.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

SNJ CHARITABLE TRUST CIO

BALANCE SHEET

AS AT 31 MARCH 2024

Notes
Fixed assets
Tangible assets
11
Current assets
Cash at bank and in hand
Net current assets
Total assets less current liabilities
Net assets excluding pension liability
The funds of the Trust
Unrestricted funds		 2024
£
145,708		 £
-
145,708
145,708
145,708
145,708
145,708		 2023
£
104,938		 £
375
104,938
105,313
105,313
105,313
105,313

The financial statements were approved by the Trustees on 31 January 2025

Mrs Neena Julka (Chair) Trustee

SNJ CHARITABLE TRUST CIO

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2024

2024
Notes
£
Cash flows from operating activities
Cash generated from operations
14
Net cash used in investing activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
£
40,770
-
-
40,770
104,938
145,708		 £
25,643
-
-
25,643
79,295
104,938

SNJ CHARITABLE TRUST CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

SNJ Charitable Trust CIO is a Charitable Incorporated Organisation whose only voting members are its charity trustees. The Trust is governed by SNJ Charitable Trust constitution dated 25th August 2015.

The Trust is registered with the Charity Commission in England and Wales.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Trust's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Trust is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

1.4 Income

Income is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.5 Expenditure

Income and expenses are included in the financial statements as they become receivable or due.

Expenses include VAT where applicable as the Trust cannot reclaim it.

SNJ CHARITABLE TRUST CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers

25% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the Trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9 Taxation

The income/gains have been applied for charitable purposes only and as a result Section 505 ICTA 1988 provides for the exemption of charity's income from direct taxation.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

SNJ CHARITABLE TRUST CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

2 Critical accounting estimates and judgements

In the application of the Trust’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and gifts

2024 2023
£ £
Donations and gifts 103,181 89,159

4 Charitable activities

Depreciation and impairment
Diabetic Project
Donation
School Fees
Cleaning
Oxygen Cylinder & Concentrator
Housing Costs
Food distribution
Stationery
Advertising
Telecommunications
Insurance
Charitable expenditure heading 15		 Health
Project
Education
Project
£
£
375
-
4,868
-
4,121
-
7,938
2,761
283
37
33,890
1,038
2,694
-
856
340
158
-
112
-
165
-
3,000
-
58,460
4,176
58,460
4,176		 Total
2024
£
375
4,868
4,121
10,699
320
34,928
2,694
1,196
158
112
165
3,000
62,636
62,636		 Total
2023
£
375
4,025
4,743
12,920
247
34,793
2,177
980
34
112
160
3,250
63,816
63,816

5 Description of charitable activities

Type 1 diabetic children receiving insulin.

SNJ CHARITABLE TRUST CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

5 Description of charitable activities

(Continued)

Working with 2 leper colonies in Hardiwar

Distribution of blankets in the colony. Food hamper distribution after floods in the colony.

Distribution of oxygen cylinders & concentrators in India during covid-19

The Trust sponsored 13 students to progress into further education.

6 Net movement in funds 2024 2023
£ £
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets 375 375

7 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the year.

8 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2024 2023
Number Number
3 3
There were no employees whose annual remuneration was more than £60,000.
Governance Costs
2024 2023
£ £
Bank Charges 150 75
150 75

9 Governance Costs

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

SNJ CHARITABLE TRUST CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

11 Tangible fixed assets

Tangible fixed assets
Computers
£
Cost
At 1 April 2023 1,500
At 31 March 2024 1,500
Depreciation and impairment
At 1 April 2023 1,125
Depreciation charged in the year 375
At 31 March 2024 1,500
Carrying amount
At 31 March 2023 375

12 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April Incoming Resources At 31 March
2023 resources expended 2024
£ £ £ £
General funds 105,313 103,181 (62,786) 145,708
Previous year: At 1 April Incoming Resources At 31 March
2022 resources expended 2023
£ £ £ £
General funds 80,045 89,159 (63,891) 105,313

13 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

14
Cash generated from operations
Surplus for the year
Adjustments for:
Depreciation and impairment of tangible fixed assets
Cash generated from operations		 2024
£
40,395
375
40,770		 2023
£
25,268
375
25,643

SNJ CHARITABLE TRUST CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

15 Analysis of changes in net funds

The Trust had no material debt during the year.