BHATTAI TRUST (UK) Registered Charity 1177449 Accounts for the Year Ended 31 December 2024 Balaji Accountants Certified Public Accountants Association BHATTAI TRUST (UK) Contents Page Independent Examiner's Report Income and Expenditure Account Balance sheet BHATTAI TRUST {UK) Independent Examiner's Report to the Trustees I report on the accounts of the Trust for the year ended 31 December 2024, which are set out on pages 2 to3. Respectlve responsibilitles of trustees and examiner The charity's Iruslees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 01 the Charities Act 2011 Ithe Charities Acll and that an independent examination is needed. It is my responsibility lo.. examine the accounts under section 145 of the Charities Act, to follow the procedures laid down in the general Directions given by the Charity Commission (under section 14515llbl of the Charitie5 Act, and to slate whether particular mattels have come to my attention. Basis of independent examiner's stat&ment My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also Includes consideiation of any unusual items or disclosures in the accounts. and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the eviden￿ that would be required in an audit, and consequently no opinion is given as lo whether the accounts present a 'lrue and fairf view and the report is limited to those mallers set out in the 51atemenl below. Independent examinerfs statement In connection with my examination, no matter has come lo my atlenlion.. 1- which gives me reasonable cause lo believe that. in any material respect, the requirements.. to keep accounting records in accordance with section 130 of the Charties Act., to prepare accounts which accord with the accountin9 records and comply with the accounting quirements of the Charties Act have not been mel., or 2 - to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Balaji Accounlanls Certified Public Accountants Association 431 Blackp¢J)l Road Preston Lancashire PR2 2DU 18 April 2025 BHATTAI TRUST (UK) Income and Expenditure Account for the year ended 31 December 2024 2024 2023 Property rent Rent received 88 Peel Hall Street Rent received 100 Peel Hall Street Rent received 38 Vance Road Agent fees Insurance Repaifs and maintenance 5,400 7.754 25,304 13.5671 18791 13.9261 5,400 3.570 24,184 13.5431 11,0231 118,8271 30,086 9,761 other Incomo Zakat Membership18e$ Ramadan fund Lillah Sadkah Bank inlere$l received Legacy 330 1,075 390 105 95 28 22,031 570 780 365 30 35 24,052 1,780 Gros8 Incomo 54.138 11.541 Exp8nse8 and donatlon8 Tea¢hefS' salaries Welfare and medical ald Le9al and professional ¢osl8 UK Education Grant Other expenses 4,602 2,476 180 5,000 391 4,460 2,365 180 4,938 435 12,649 12,378 Not iurpluslldèflcltl lor thè year 41,489 837 BHATTAI TRUST (UK) Balance Sheet as at 31 December 2024 2024 2023 Freehold propertles 38 Vance Road 68 Peel Hall Street 100 Peel Hall Street 201,869 6.559 25,649 201,869 6.559 25,649 234,077 234,077 Current assets Deblorslprepaymentslolhef current assets Cash al bank and in hand 451 43,137 85,077 85.077 43.588 Curr¢nt Ilabllltl•8 Loans 8,150 8,150 8,150 8,150 311,004 269,51 S Ropre8entèd by Balance at start of period Net surpluslldeficitl for the year 269.51 S 41,489 270,352 18371 311 004 269515 We approv and infor these accounts and confirm that we have made available all relevant records Ih reparation, 18 April 2025 ## **Report of the Chair, Trustees and Treasurer for the Year Ending 31 December 2024** The accounts for the year ended 31 December 2024 have been prepared and circulated to the members. I am pleased to report that for the year ended 31 December 2024, we achieved a surplus of £41,458, which includes a generous legacy from the late Marhumah Aysha M Nadat amounting to £22,031. Excluding this legacy, the surplus stands at £19,458, marking a significant improvement compared to the previous year, when the Trust incurred a loss of £837. ## _factors contributed to this substantial surplus:_ In 2023, repairs to 100 Peel Hall were carried out, totalling £13,000. Following the refurbishment, the property was let out, resulting in a positive rental variance of £5,000. The total uplift of this was £18,000. Gross rental income for 2024 was £38,458, an increase of £5,534 compared to £33,113 in 2023. In 2024, a new five-year rental agreement was concluded for the salon with the current tenant, including an annual rent increase of £600. However, as the property is now managed by the agent, we will not realise a net increase in rental income. At 88 Peel Hall Street, where we have had a partially sighted tenant since 2008, we achieved a rent increase of £50 per month, bringing the rent to £500 per month. Although this remains below market rate, as highlighted in last year’s report, one of the Trust’s primary objectives is to “relieve poverty,” and we are committed to maintaining an affordable rent for this tenant. The maximum achievable gross rental income for 2024 was £39,000, and we successfully reached £38,458, representing 98% of this target. Maintenance costs for 2024 totalled £3,926, a reduction of £14,902 compared to the previous year, when costs were elevated due to the refurbishment of 100 Peel Hall Street. Other Income Other income, including membership fees and Ramadan Funds, amounted to £2,021, an increase of £271 compared to £1,750 in 2023. Over the past eight years, our average annual other income has been £1,754. Expenditure Total expenditure for 2024 was £12,649, a slight increase compared to 2023. The two largest expenses were teacher salaries and the UK grant to students. Although the budgeted grant amount was £6,000, the Welfare/Grant Committee chose to cap this at £5,000. Over the past eight years, our average annual expenditure has been approximately £13,000. Net Assets The Trust’s total net assets now stand at £311,004, with the bank balance at £85,077, reflecting an increase of £41,490 in assets. ## _**Future Planning**_ **The Banking Committee is encouraged to develop a plan to utilise these funds effectively. Preliminary calculations suggest the Trust’s could have benefited if invested by an income of £3,400 on this last year.** I S Ravat Chair,Trustee and Treasurer 30/4/2025 BHATTAI TRUST (UK) Registered Charity 1177449 Accounts for the Year Ended 31 December 2024 Balaji Accountants Certified Public Accountants Association BHATTAI TRUST (UK) Contents Page Independent Examiner's Report Income and Expenditure Account Balance sheet BHATTAI TRUST {UK) Independent Examiner's Report to the Trustees I report on the accounts of the Trust for the year ended 31 December 2024, which are set out on pages 2 to3. Respectlve responsibilitles of trustees and examiner The charity's Iruslees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 01 the Charities Act 2011 Ithe Charities Acll and that an independent examination is needed. It is my responsibility lo.. examine the accounts under section 145 of the Charities Act, to follow the procedures laid down in the general Directions given by the Charity Commission (under section 14515llbl of the Charitie5 Act, and to slate whether particular mattels have come to my attention. Basis of independent examiner's stat&ment My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also Includes consideiation of any unusual items or disclosures in the accounts. and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the eviden￿ that would be required in an audit, and consequently no opinion is given as lo whether the accounts present a 'lrue and fairf view and the report is limited to those mallers set out in the 51atemenl below. Independent examinerfs statement In connection with my examination, no matter has come lo my atlenlion.. 1- which gives me reasonable cause lo believe that. in any material respect, the requirements.. to keep accounting records in accordance with section 130 of the Charties Act., to prepare accounts which accord with the accountin9 records and comply with the accounting quirements of the Charties Act have not been mel., or 2 - to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Balaji Accounlanls Certified Public Accountants Association 431 Blackp¢J)l Road Preston Lancashire PR2 2DU 18 April 2025 BHATTAI TRUST (UK) Income and Expenditure Account for the year ended 31 December 2024 2024 2023 Property rent Rent received 88 Peel Hall Street Rent received 100 Peel Hall Street Rent received 38 Vance Road Agent fees Insurance Repaifs and maintenance 5,400 7.754 25,304 13.5671 18791 13.9261 5,400 3.570 24,184 13.5431 11,0231 118,8271 30,086 9,761 other Incomo Zakat Membership18e$ Ramadan fund Lillah Sadkah Bank inlere$l received Legacy 330 1,075 390 105 95 28 22,031 570 780 365 30 35 24,052 1,780 Gros8 Incomo 54.138 11.541 Exp8nse8 and donatlon8 Tea¢hefS' salaries Welfare and medical ald Le9al and professional ¢osl8 UK Education Grant Other expenses 4,602 2,476 180 5,000 391 4,460 2,365 180 4,938 435 12,649 12,378 Not iurpluslldèflcltl lor thè year 41,489 837 BHATTAI TRUST (UK) Balance Sheet as at 31 December 2024 2024 2023 Freehold propertles 38 Vance Road 68 Peel Hall Street 100 Peel Hall Street 201,869 6.559 25,649 201,869 6.559 25,649 234,077 234,077 Current assets Deblorslprepaymentslolhef current assets Cash al bank and in hand 451 43,137 85,077 85.077 43.588 Curr¢nt Ilabllltl•8 Loans 8,150 8,150 8,150 8,150 311,004 269,51 S Ropre8entèd by Balance at start of period Net surpluslldeficitl for the year 269.51 S 41,489 270,352 18371 311 004 269515 We approv and infor these accounts and confirm that we have made available all relevant records Ih reparation, 18 April 2025