Re ort of the Trustees and Treasurer for the ear endin 31 12 22 The Accounts for the year ended 31, Dec. 2022 have been prepared and circulated to the members. Rental Income For the year 2022, the Trust received gross rental income of £27,628 which is lower than the prior year of £32,960. This takes us back to 2018 when we received rental income of £27,148. The reason is that no rent wa5 received form 100 Peel Hall. You may recall that this 51tuation started due to the Covid-19 crisis which led the Government to legislate that tenants could not be evicted for non-payment of rent during this crisis period. The tenant at thi5 location took full advantage of this. Once we could we started the legal process of evicting them and in the middle of May 22 the tenants vacated by themselves. I viewed the premises with the agent and it was apparent that for it to be back on the market again it required full re5torationlrefurbishment. The agent could only start work on the premises in Oct 22 so difficult was the availability of builders. However, slippages took place and the agent could not fulfil the Oct 22 date and I therefore, changed the Agent. The new Agent being the same as the one who manages 88 Peel Hall. l am happy to say that the property is now back on the Market and at a higher rate. I believe that the maximum gross rental we can achieve at this stage is £34,000 and therefore. for 2022 we achieved a utilisation rate of 80%. The maintenance cost in 2022 was £11,193. This is higher than the prior year which was £8,824 which too was higher than the normal. The big expenditure for 2022 were.. Roof repair £,2,500 Vance Road,. New Shower £1,220 Vance Road: Double Glazing £1,650 88 Peel Hall- and Repair to Wall £400 88 Peel Hall. With reference to 2023 there will be higher maintenance cost due to the restoration/refurbishment of loo Peel Hall St. The total Net Rental Income was £13,156 compared to prior year of £20,032. This is a little higher that what was achieved in 2017. Other Income Other income which includes, members fees, Ramadan Funds, etc. came to a total amount of £1,166 this is half that was archived in 20211£2,6351. The Ramadhan fund was £390 which is down from £605. The money sent to Bhattai for Ramadhan was £2,150. Expenses and Donations The total expenditure was £14,231 which is £7,874 higher compared to 2021. The largest cause of this increase are.. £4,000 UK residents. UK Educational grant. This is our new policy of providing grants to
£1,500 E2,000 PèymentS to Bhattai High School- and Welfare/Medical Fund. Net Surplus The Surplus of funds for the year was £91. Which is £16,219 lower than 2021. Over the pass 6 years the average surplus achieved was £12,503 pei year. Going forward, I do not expect to achieve surpluses a5 high as the recent past as we have other expenditure we have set-up namely the UK Education Grant. Assets/Llabllltles The bank balance is a healthy £43,108. We have now repaid all members who gave us Karze Hasana Loan in 2014 totalling £63,000 for the purchase of 38 Vance Road Blackpool. What now remains is the amount owed to Panama Jamaat. Panama does not wish to be re-paid and wants us to hold the money for use in future projects in India. Valuatlon An approximate valuation was performed by the agents for the charity assets and the total property value is £355,000. The book value is £235,077. The above valuation was undertaken in 2021. The next Valuation will be in 2024. Accounts from Indla Awaltin8 from India Bhattal Investment in Panama. A building comprisin8 of a Salon and 10 flats was purchased for £175k jointly by 8hattai India Jamaat and Panama Jamaat. Awaiting Income/Expen5e information for 2022. Projects in India Currently, there are no projects ongolng in Bhattai. I S Ravat Treasurer / Trustee 9/5/23
BHATTAI TRUST (UK) Registered Charity 1177449 Accounts for the Year Ended 31 December 2022 Balaji Accountants Certified Public Accountants Association
BHATTAI TRUST IUKI Contents Pag Independenl Ex8mlnerfs Report Income and Expendllure Account Balance sheet
BHATTAI TRUST (UK) Independent Examlnerfg Report lo the Trustees I report on the accounts of tho Trust for the year ended 31 December 2022, whlch are sel out on pages 2 103. Respectlve responslb511tlè$ of tru8te88 and examlner The charity's Iruslees are responslble for the preparation of the ac¢¢unls. The charlty's tru$lees con$id¢r that an audit Is nol required lor Ihls year undgl secllon 144 of the Charill$$ A¢1 2011 Ith¢ Chariti$$ A¢ll and that an independent examination is needed. 11 Is my responsibillty lo.. examine the accounts under seclion 145 01 the Charllles Act, lo follow the procgduros laid down In the general Dlreclion8 given by the Charfly Comml881on lunder 88clion 1451511b} of the Charllles Act, and lo slate whether partiGylar maller$ have como lo my allenlS0n. Ba818 01 Ind8pond•nl examlner's 8talèmont My examinalion was ¢arriÈd out in accordance with general Dlrecllons given by the Char51y Commi5slon. An examinallon Includes a review ol the aDntIng record8 kepl by the charlty and a comparison of Ihg accounts pr85enled wSlh those fecords, 11 also includes consideration of any unusual blem$ or dlselosures In the accounts, and ge¢king explanallons Ifom Ihe Irusle88 concarning any such mallers. The procedure$ undertaken do not provide all the evidence that would be rOqUifed in an audil, and consequenlly no oplnion is given as lo whelhèr the a¢counl8 pre8enl a'lru8 and falr, vkw and the report is limllad lo th088 mallef6 $81 out In the 81atemenl bglow. Indepondent examlner's stalgmont In connecllon wllh my examlnollon, no m8ller has Comè lo my allènllon., 1 . whlch gives me r¢880n8ble Cause lo bellavg that, In any matèrial respect. the requlr•menl8.' lo keep aceounlSng records In accordance wllh section 130 of the Chartle8 A¢l', 1¢ prepare ac¢oun18 whlch a¢rd wllh th¢ ac¢ounllng r6¢ords ond oomply wllh the accounllng requirements ol the Chartles Act have not been mèl., or 2 to whlch, In my opinl¢n, allenllon 8hould be drawn Sn order lo enabla a prop&r undor6tAnding of the accounts lo be reached. Balajl Accountsnls Certified Publlc Ae¢ounlènls A8so¢lallon 431 Blackpool R08d Presltsn Lancashlre PR2 2DU 27 Aprll 2023
BHATTAI TRUST {UKI Income and Expendlture Account for the year ended 31 Dgcember 2022 2022 2021 Property rlnt Rent recelved 88 Peel Hall Street Rent received 100 Peel Hall Street Rent re¢elved 38 Vance Road Agent fees Insur8nce Repairs and malnlenance Lelllng Llcense 8,27S 5,100 2,900 24,960 12,7751 19291 18,8241 {400) 22.353 2.3801 1899) 111,193} 13,156 20,032 othor Incomg Zakat Member6hip fees Ramadan lun¢J Lillah Sadkah Other 232 405 39Q 77 82 640 420 320 620 2,636 Gross Income 14,322 22,667 Expen886 and donatlono Teachers, salarles Welfare and medlcal ald Bhallal Hlgh School Legal and professional ¢08ts UK Education Grant Other expenses 4,014 4,150 1.500 132 4,000 435 4,110 1,878 209 180 14,231 8,357 Not surplus for tho year 16,310
BHATTAI TRUST IUKI Balance Sh8gt a5 at 31 December 2022 2022 2021 Freghold propgrtlo8 38 Vance Road 88 Peel Hall Street 100 Peel Hall Slr¢el 201,869 6,559 2S,649 201,869 6,559 26.649 234,077 234.077 Current as8et8 Deblorslprepaymenlslolher Gurionl assets Casl) al baiik and ii) Iiand 1,228 43,199 50,334 44,425 50,334 Curreni Ilabllltles Loans 8,150 14,150 270,362 270,261 R¢pr•Jgntfjd by Balance al stort of perlod Nel surplus for the year 270,261 91 253,951 16,310 270 352 270,2e1 We Ipprov? cc nts and confirm that we have made avallable all Tel8vant re¢d$ rlLS 0910512023 l. A Ravat (Trusteel 27 April 2023