REGISTERED COMPANY NUMBER: 09463549 (England and Wales)
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 July 2022 for Kuberbhai Shivabhai Desai Trust Limited
Wormald & Partners Chartered Accountants (ICAEW) Redland House 157 Redland Road Redland Bristol BS6 6YE
Kuberbhal Shlvabhal Desal Trust Llmited
| Contents of the Financial Statements | Contents of the Financial Statements | |||
|---|---|---|---|---|
| forthe YearEnded 21 July 2022 | ||||
| Page | ||||
| Report ofthe Trustees | 1 | |||
| Statement of Financial | Activities | 2 | ||
| Balance Sheet | 3 | |||
| NotestotheFinancial | Statements | 4 | to | 7 |
Kuberbhai Shivabhai Desai Trust Limited (Registered number: 09463549)
for theReportYear ofEnde the Trusteesuly 2022
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 July 2022. 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 Financlal Reporting Standard applicable In the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Govern|Ing 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 09463549 (England and Wales)
Registered Charity number 1171007
Registered office Mortimer House Clifton Down Bristol BS8 4AE
Trustees
Dr DM Desai AM Desai M C Desai B Desai
Company Secretary
Approved by order of the board of trustees on 12 January 2023 and signed on its behalf by:
AM Desai - Trustee
Page 1
Kuberbhal Shlvabhal Desal Trust Llmited
Statement of Financlal Activitles for the Year Ended 31 July 2022
| 2022 | 2021 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 100,000 | : | |
| EXPENDITURE ON | |||
| Raising funds | 2 | 902 | 477 |
| Charitable activities | |||
| Grants | 99,056 | - | |
| Total | 99,958 | 477 | |
| NETINCOME/(EXPENDITURE) | 42 | (477) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 631 | 1,108 | |
| TOTALFUNDSCARRIEDFORWARD | 673 | 631 |
The notes form part of these financial statements
Page 2
Kuberbhai Shivabhai Desai Trust Limited (Registered number: 09463549)
Balance Sheet 31 July 2022
| Balance Sheet 31 July 20222022 |
|||
|---|---|---|---|
| 2022 | 2021 | ||
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENTASSETS | |||
| Cash at bank | 1,424 | 856 | |
| CREDITORS | |||
| Amounts falling due within one year | 5 | (751) | (225) |
| NETCURRENT ASSETS | 673 | 631 | |
| TOTALASSETS LESS CURRENT LIABILITIES | 673 | 631 | |
| NETASSETS | 673 | 631 | |
| FUNDS | 6 | ||
| Unrestricted funds | 673 | 631 | |
| TOTALFUNDS | 673 | 631 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 in accordance with Sectlon 476 of the Companles 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
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(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.
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 12 January 2023 and were signed on its behalf by:
AM Desai - Trustee
The notes form part of these financial statements
Page 3
Kuberbhal Shlivabhai Desal Trust Llmited
-
ACCOUNTING POLICIES
Notes to the Financial Statements for the Year Ended 31 July 2022
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 Charitles: 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 cf 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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
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.
RAISING FUNDS
Raising donations and legacies
Support costs
| 2022 | 2021 |
|---|---|
| £ | £ |
| 902 | 477 |
TRUSTEES’ REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31 July 2022 nor for the year ended 31 July 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2022 nor for the year ended 31 July 2021.
Page 4
continued...
Kuberbhal Shlvabhal Desal Trust Llmited
Notes to the Financial Statements - continued for the Year Ended 31 July 2022
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |||
|---|---|---|---|
| fund | |||
| £ | |||
| EXPENDITURE ON | |||
| Raising funds | 477 | ||
| NET INCOME/(EXPENDITURE) | (477) | ||
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 1,108 | ||
| TOTAL FUNDS CARRIED FORWARD | 631 | ||
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2022 | 2021 | ||
| £ | £ | ||
| Accruals and deferred income | 751 | 225 | |
| MOVEMENT IN FUNDS | |||
| Net | |||
| movement | At | ||
| At 1.8.21 | in funds | 31.7.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 631 | 42 | 673 |
| TOTAL FUNDS | 631 | 42 | 673 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 100,000 | (99,958) | 42 |
| TOTALFUNDS | 100,000 | (99,958) | 42 |
Page 5
continued...
Kuberbhal Shlivabhai Desal Trust Llmited
- MOVEMENT IN FUNDS- continued
Notes to the Financial Statements - continued for the Year Ended 31 July 2022
Comparatlves for movement In funds
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|||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Net|
|movement|At|
|At|1.8.20|in|funds|31.7.21|
|£|£|£|
|Unrestricted|funds|
|General|fund|1,108|(477)|631|
|TOTAL FUNDS|1,108|(477)|631|
|Comparative|net|movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|-|(477)|(477)|
|TOTAL FUNDS|ee|{477)|(477)|
|A|current|year|12|months|and|prior|year|12|months|combined|position|is|as|follows:|
|Net|
|movement|At|
|At|1.8.20|in|funds|31.7.22|
|£|£|£|
|Unrestricted|funds|
|General|fund|1,108|(435)|673|
|TOTAL FUNDS|1,108|(435)|673|
|A|current|year|12|months|and|prior|year|12|months|combined|net|movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|100,000|(100,435)|(435)|
|TOTAL FUNDS|100,000|(100,435)|(435)|
----- End of picture text -----
Page 6
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Kuberbhal Shlvabhai Desal Trust Llmited
Notes to the Financial Statements - continued for the Year Ended 01 July 2020
7. RELATED PARTY DISCLOSURES
During the year the company received donations in the sum of £50,000 (2021 ENil) from each of Barker Care Limited amd Cedar Care Homes Limited.
MC Desai and AM Desai, trustees and directors of the company are also directors and shareholders in Barker Care Limited and Cedar Care Homes Limited..
Page 7
This document was delivered using electronic communications and authenticated in accordance with the registrar's rules relating to electronic form, authentication and manner of delivery under section 1072 of the Companies Act 2006.