John Assie
Jackson Nicholas Assie Limited t/a Jackson & Jackson Suite 7 Meridian House 62 Station Road Chingford London E4 7BA
Dear Sir
During the course of your examination of our financial statements for the period ending 30 April 2022, the following representations were made to you.
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We acknowledge as directors/trustees our responsibilities under the Charities Act 2011 for preparing financial statements, in accordance with UK GAAP that give a true and fair view and for making accurate representations to you as examiners.
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We confirm that all accounting records have been made available to you for the purposes of your examination, in accordance with your terms of engagement, and that all transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information have been made available to you. We have given you unrestricted access to persons within the charity and have provided any additional information that you have requested for the purposes of your examination.
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We confirm that significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.
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We confirm that all known actual or possible litigation and claims whose effects should be considered when preparing the financial statements have been disclosed and accounted for and disclosed in accordance with UK GAAP.
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We confirm that there have been no events since the balance sheet date which require disclosing or which would materially affect the amounts in the financial statements, other than those already disclosed or included in the financial statements.
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We confirm that all related party relationships and transactions have been accounted for and disclosed in accordance with UK GAAP.
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We confirm that the charity has had, at no time during the year, any arrangement, transaction or agreement to provide credit facilities (including loans, quasi-loans or credit transactions) for directors/trustees, nor to guarantee nor provide security for such matters, except as already disclosed in the accounts.
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We confirm that the charity has not contracted for any capital expenditure other than as disclosed in the financial statements.
MahaDevi Yoga Centre, 12 Eden Grove, London, N7 8EQ Phone: 07753121962 ⚫ E-Mail: info@mahadevicentre.com Web: www.mahadevicentre.com
Registered Charity 1177960
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We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal framework within which the charity conducts its business and which are central to the charity's ability to conduct its business, except as explained to you and as disclosed in the financial statements.
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We acknowledge our responsibility for the design and implementation of controls to prevent and detect fraud. We confirm that we have disclosed to you the results of our risk assessment of the risk of fraud in the charity.
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We confirm that there have been no actual or suspected instances of fraud involving trustees, management or employees who have a significant role in internal control that could have a material effect on the financial statements. We also confirm that we are not aware of any allegations of fraud by former trustees, employees, regulators or others.
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We confirm that, in our opinion, the charity is a going concern on the grounds that current and future sources of funding or support will be more than adequate for the charity’s needs. We believe that no further disclosures in respect of the charity's ability to continue as a going concern need to be made in the financial statements. We also confirm the period that we have considered covers a minimum of 12 months from the date of this letter.
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We confirm that all grants, donations and other income, including those subject to special terms or conditions or received for restricted purposes, have been notified to you. There have been no breaches of terms or conditions during the period regarding the application of such income.
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We confirm that in our opinion the effects of uncorrected misstatements are immaterial, both individually and in aggregate, on the financial statements as a whole. A list of the uncorrected misstatements is attached to this letter.
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We confirm that we are not aware of any matters of material significance that should be reported to the Charity Commission.
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We confirm that there are no companies associated with this charitable company for tax purposes. We understand that companies are associated for tax purposes if they are under the control of the same person or persons. We also understand that for this purpose a person might be treated as one and the same person as: a close relative, a business partner; a trustee of a settlement of which the person or a relative was the settlor; and any company in which any of these is also a shareholder.
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We acknowledge our legal responsibilities regarding disclosure of information to you as examiner and confirm that:
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so far as each trustee is aware, there is no relevant information of which you as examiner are unaware; and
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each trustee has taken all the steps that he/she ought to have taken as a trustee to make him/herself aware of any relevant information and to establish that you are aware of that information.
MahaDevi Yoga Centre, 12 Eden Grove, London, N7 8EQ Phone: 07753121962 ⚫ E-Mail: info@mahadevicentre.com Web: www.mahadevicentre.com
Registered Charity 1177960
We confirm that the above representations are made on the basis of enquiries of management and staff with relevant knowledge and experience and, where appropriate, of inspection of supporting documentation sufficient to satisfy us that we can properly make each of the above representations to you.
Signed
Name: A Sagesser Dated: 13 July 2023 Trustee
Signed
Name: B Eydmann Date: 13 July 2023 CEO
MahaDevi Yoga Centre, 12 Eden Grove, London, N7 8EQ Phone: 07753121962 ⚫ E-Mail: info@mahadevicentre.com Web: www.mahadevicentre.com
Registered Charity 1177960
CHARITY REGISTRATION NUMBER: 1177960
MahaDevi Yoga Centre Unaudited Financial Statements
30 April 2022
Jackson & Jackson
A trading name of Jackson Nicholas Assie Limited Chartered Certified Accountants & Statutory Auditors Suite 7, Meridian House 62 Station Road, Chingford London E4 7BA
MahaDevi Yoga Centre
Financial Statements
Year ended 30 April 2022
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 9 |
| Statement of financial activities | 10 |
| Statement of financial position | 11 |
| Statement of cash flows | 12 |
| Notes to the financial statements | 13 |
MahaDevi Yoga Centre Trustees' Annual Report
Year ended 30 April 2022
The trustees present their report and the unaudited financial statements of the charity for the year ended 30 April 2022.
Reference and administrative details
| Registered charity name | MahaDevi Yoga Centre | |
|---|---|---|
| Charity registration number | 1177960 | |
| Principal office | 12 Eden Grove | |
| London | ||
| N7 8EQ | ||
| The trustees | ||
| Anais Sagesser | Chair | |
| Jo Kirwin | ||
| Olivia Farschtschian-Malik | (Resigned 23 November 2022) | |
| Elina Nupponen | ||
| Sharon Beauchamp | ||
| Samantha Akita | (Appointed 24 May 2022) | |
| Claudine-Sachi Munger | (Appointed 24 May 2022) | |
| Jason Gunn | (Appointed 24 May 2022) | |
| Chief Executive Officer | Ben Eydmann | |
| Chief Operating Officer | Denisa Nenova | |
| Independent examiner | John Assie FCCA | |
| Suite 7, Meridian House | ||
| 62 Station Road | ||
| Chingford | ||
| London | ||
| E4 7BA | ||
| Bankers | NatWest Bank | |
| 490 Holloway Road | ||
| London | ||
| N7 6JB |
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 1 -
MahaDevi Yoga Centre
Trustees' Annual Report (continued)
Year ended 30 April 2022
The directors and trustees present their report along with the financial statements for the year ended 30th April 2022. MahaDevi Yoga Centre is a Charitable Incorporated Organisation The financial statements have been prepared in accordance with the accounting policies set out in the MahaDevi Financial Policy and comply with the charity's governing document (The Constitution), 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 (SORP (FRS 102).
Structure, governance and management of the charity was incorporated on 16 April 2018, registered as a charity on 16 April 2018 and commenced charitable activities on the same date.
Recruitment and appointment of trustees
The directors and trustees, who are also the directors for the purpose of charity law, and who served during the year were:
Dr Anaïs Sägesser Dr Jo Kirwin Elina Nupponen Dr Olivia Farschtschian-Malik Sharon Beauchamp
The Board has powers to appoint additional trustees as it considers fit to do so in accordance with the Constitution. There is no maximum number of trustees that the company may have and there is no restriction on their length of office. However, there must be at least four trustees.
About MahaDevi Yoga Centre
MahaDevi Yoga Centre delivers therapeutic yoga sessions for people with disabilities and special needs. We work with children, young people and adults with a range of disabilities and special needs, including but not limited to autism, Down's Syndrome, epilepsy, Prader-Willi Syndrome, hemiplegia, ASD, ADD, ADHD, learning disabilities, cerebral palsy and wheelchair users. Many of them have multiple and complex needs and need 24-hour care. In addition to their pre-existing health conditions, children with special needs and disabilities experience many other challenges such as insomnia and restlessness at night, anxiety, depression and stress, feelings of isolation, and low self-esteem.
Our therapeutic yoga techniques improve their physical, mental and emotional health and overall feelings of wellbeing. As a result, they become empowered and build resilience to handle the many challenges they face in life. Today we work with 120 individuals and their families in London, plus many more through our partnerships with schools, charities and community groups across the UK. Beyond this, we support the wider community and are truly open to anyone and everyone who is looking to explore yoga, regardless of ability, body type, age, ethnicity, gender or sexual orientation.
To date we have delivered over 11,000 therapeutic yoga sessions touching the lives of more than 250 families.
Our Purpose: We are here to enhance the lives of those with additional and special needs, as well as the community around them and society as a whole, so everyone can live life to their fullest capacity, unrestricted by their circumstances.
Vision: To create a society inspired by Yogic principles in which everyone is welcomed, supported and has equitable opportunities to find connection, flourish and find meaning and purpose.
Jackson Nicholas Assie Limited Chartered Certified Accountants
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MahaDevi Yoga Centre
Trustees' Annual Report (continued)
Year ended 30 April 2022
Mission: Facilitate and empower for change on an individual level through the teaching and practice of Yoga, to contribute to a societal and global level transformation founded on respect for and connection with self, one another and the planet.
Our Values
Empowering: Our work empowering individuals within the additional and special needs community lies at the heart of what we do. We are committed to never losing focus on this mission and ensuring that we are able to provide effective and impactful support for those who need it both now and in the future.
Impact: We are committed to making a tangible difference and have systems and structures in place to ensure this happens. This not only helps us remain accountable to those who support us but also helps us ensure we are always providing value to those we serve.
Inclusive: We are inclusive for all human beings and strongly believe in providing the same opportunities to all. When we say everyone, we truly mean everyone.
Transparent: We will always be open and honest about how we operate and encourage open conversations with every single member of the community.
Reflective: We are constantly evolving and responding to feedback from our community, making informed decisions to ensure the service and support we provide is the best and most impactful it can be. We are willing to change based on reflection.
Our Core Services
1) Therapeutic Yoga for people with additional or complex needs
Yoga can play an important role in helping people reach their full potential and we believe no label should predetermine an individual’s capacity for growth and achievement in life.
2) Wellbeing activities for the whole family
MahaDevi Centre is a community hub with a comprehensive and growing programme of activities which all provide a vital resource for the community.
3) Work experience programme for young adults
We provide opportunities for young adults with additional needs struggling to find meaningful work experience or volunteering placements.
Continuous Learning: We all aim to live and lead following Yogic principles, creating unity between timeless wisdom and modern life. By doing this whilst fully living in the present, we embrace tried and tested philosophies, whilst adapting to new challenges and learning through our own experiences.
Legacy: Our ambition is to create lasting change which will survive the test of time. We will always act with the intention of creating a real, lasting impact for the individual, our community and for the world.
Trustee induction and training
The charity has now adopted a formal system in place in relation to trustees' induction and training. All trustees are required to have an enhanced DBS check and adhere to the charity’s safeguarding, health and safety, financial and data protection policies. All trustees need to confirm that they have read and agree to the appropriate policies.
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 3 -
MahaDevi Yoga Centre
Trustees' Annual Report (continued)
Year ended 30 April 2022
In addition, new trustees have an onsite ‘onboarding’ session with one or both directors in which they are trained on the charity brand, policy and code of conduct.
Trustees currently undergo specialist safeguarding training with the NSPCC.
Organisational structure
The charity is organised so that the trustees meet monthly to manage its affairs and team. There is no relationship with any other charity or organisation although we work in partnership with many organisations that resonate with our values. Current partnerships include Centre404, SENSE, Articulate, Stormont House School, Jade Yoga, the Dynamic Autism Group, SEN Family Saturdays, Blossom House School, Community Catalysts, Art Box, Om Yoga, Hawley Primary School, Islington Council, CAre Trade, Yoga Matters, Sport England, LDN London, Angelman UK and Arsenal in the Community.
The director team is split into two directorates of administration and service delivery. Denisa Nenova leads on all aspects of service delivery including safeguarding, quality control, teacher supervision and training. Ben Eydmann leads on all aspects of charity administration including fundraising, communications, governance and finance. The two directors are supported by a small admin team consisting of paid self-employed contractors and volunteers.
Volunteers
The charity continues to rely on the support of volunteers both at our site in Islington and at external activities and events. Volunteers undergo the same induction as any trustee or self-employed contractors including a volunteer DBS check and safeguarding training. In addition to adhering to all charity policies volunteers are required to sign a specific volunteer policy and development plan unique to their volunteer role. This ensures that all volunteers have a rich and rewarding experience. Currently volunteers provide a range of support from manning the reception desk to supporting admin and centre management. Volunteers have access to free yoga classes and discounts on all other workshops. We also offer compensation for their travel expenses and lunches.
Jackson Nicholas Assie Limited Chartered Certified Accountants
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MahaDevi Yoga Centre
Trustees' Annual Report (continued)
Year ended 30 April 2022
A user-led organisation
The charity is making significant progress in becoming a ‘user-led’ organisation. It is the charity's belief that by involving (often marginalised) groups of users in the development and direction of the organisation, a sense of empowerment of individuals and groups can be achieved, resulting in increased participation. In the reporting year we have had parents and service users represented at board level. We have launched a ‘youth council’ consisting of a broad range of young people who are already accessing our service and giving them a facilitated forum in which to contribute their views. We also have an informal parents committee who support the directors with advice and other support.
Risk management
The directors and trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Risks are continuously monitored, and status checked at the monthly trustees meetings.
Safeguarding
The welfare of our service users is at the heart of everything we do and we do everything within our power to ensure all the children and young people accessing our service are protected from abuse. Our safeguarding policy is regularly reviewed and all self-employed contractors and volunteers are required to complete NSPCC approved safeguarding training. In addition those working with children directly are required to have an enhanced DBS check and additional safeguarding SEND children. We are a member of Islington's SAFE programme that provides safeguarding information and training for local organisations.
Objectives and activities
The charity's objects and its principal activities are to preserve and protect the good health of the public by providing yoga sessions, principally (but not exclusively) to children and adults with special needs; and to advance the study and practice of yoga including (but not limited to) training future instructors. The income is derived from private charitable donations, grants from charitable trusts and foundations and through income received through regular adult yoga classes and from 1:2:1 classes for children with special needs. We have also generated a small amount of revenue from third parties running workshops and hiring out the yoga studio.
Main achievements during the year
During this reporting period our most significant achievement was a Community Cafe that provides an additional wellbeing space for service users and their families and work experience opportunity. The Community Cafe resulted from a careful repurposing and renovation of our reception space.
Due to restrictions placed on a number of small grants for building works such as resloping the floor and making the space more accessible to wheelchair users we decided to do all the building work at the same time to minimise disruption to operations. Therefore, it was agreed by the directors and the board to use the grants and some unrestricted money from Covid restart grants to redevelop the space, turning it into a fully functional cafe.
Works began in October 2021 and took approximately 3 weeks to complete. Further grants from the Clothworkers Foundation allowed us to kit the cafe out with equipment and train our first group of Baristas.
The cafe has become a well-used resource for the local community and forms the core component of our work experience programme. It generates a small amount of unrestricted trading income, but we plan to grow this with addition of simple food items and snacks. We have a steady stream of regulars purchasing coffee and this has proven to have an impact on our regular adult yoga class attendance.
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Jackson Nicholas Assie Limited Chartered Certified Accountants
MahaDevi Yoga Centre
Trustees' Annual Report (continued)
Year ended 30 April 2022
In addition, we have expanded our service to include a weekly music session and have secured partnerships with 16 new organisations.
We delivered over 3000 therapeutic yoga sessions and despite a small increase to £28 per session in line with inflation our service remains accessible to most. We have continuously replenished our community fund so that those without the means to pay the full amount are subsidised from this pot. We remain committed to offering the first three sessions for free.
Plans for the future
Looking ahead to the future we have distilled our strategy into three overarching goals that we aim to achieve in the next 5 years.
❖ Goal One - Increase Capacity
We aim to increase the number of people we work with over the next five years. This means increasing capacity onsite, increasing offsite capabilities and working with more partners such as schools and other community groups.
❖ Goal Two - Fully Inclusive
We aim to be a fully inclusive organisation with a board of at least 75% representation from people with lived experience and at least 50% of our paid staff team and representation at all levels of the organisation.
❖ Goal Three - Leading Provider
We aim to be the leading provider of therapeutic yoga in the UK. Working collaboratively with resonant organisations, investing in fundraising and increasing our media profile we will lead the charge in ensuring every young person has access to therapeutic yoga.
❖ Goal Four – Financial stability and Fundraising
We aim to increase our income to £500,000 across all income streams including trading, voluntary and corporate partnerships.
Fundraising
Our income remains split between two streams: our trading income from therapeutic yoga and regular adult yoga classes and our grant income from trusts and foundations. It remains a priority and a key part of our strategy to diversify our voluntary income portfolio and wean ourselves off our reliance on grant funding the majority of which tends to be project based and restricted. Therefore, we are investing in individual giving having recently launched two fundraising campaigns aimed at securing monthly Direct Debit donations and major donations from high net worth individuals. Our ‘Circle of Friends’ is made up of individuals and families who commit to a monthly donation to support our work, ensuring the centre remains accessible to everyone. Our ‘ Supporter’s Club’ are a group of individuals who have the means to make larger donations to our work, providing the seed funding needed for development and increasing our impact.
We have secured our first members and plan to grow this group with a goal of funding our entire core costs within the next five years. We are also investing in securing more corporate partnerships. Corporate partners can support us not only financially but also through volunteering and the donation of equipment.
Our principal sponsor
Unite Students remain our principal sponsor and our relationship remains strong. Recently their social impact team sponsored the production of a promotional film that showcases our work in the community. They supported our five-year celebrations, and we continue to look for more ways of supporting their body of student residents at Stapleton House. Our lease will expire in 2025 but there is already an understanding that this will be extended for a further five years.
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Jackson Nicholas Assie Limited Chartered Certified Accountants
MahaDevi Yoga Centre
Trustees' Annual Report (continued)
Year ended 30 April 2022
Financial Review
The statement of Financial Activities shows a new loss of £22,134 (2021: £52,747 profit). The total reserves of the organisation at the end of the reporting period are £57,360 (2021: £79,494) of which £25,558 (2021: £25,436) is restricted and £31,802 (2021: £54,058) is unrestricted.
Reserves policy
The trustees are of the opinion that both its reserves and its anticipated income are such that the charity will be able to continue its activity for another 12 months. Our current reserves policy is 3 months unrestricted income. The reserves that we have set aside provide financial stability and the means for the development of our principal activity - yoga classes for children and young people with additional and complex needs. We intend to maintain our reserves at a level which is at least equivalent to three months general running costs and to cover three months of management costs. The Board regularly reviews the amount of reserves that are required to ensure that they are adequate to fulfil our continuing obligations.
Public benefit statement
The trustees consider that they have complied with the duty of the Charities Act 2011 to have regard to Public Benefit guidance published by Charity Commission. Thanks to investment in fundraising and our continued support with rent from Unite Students we have maintained our low-cost model keeping ALL sessions less than half the price of the national average and increasing further concessions to those families on the lowest income.
In 2021 almost all of the beneficiaries of our more than 3000 one to one therapy sessions received significant concessions. Many families not normally accessing concessionary rates did so during the pandemic. We have seen children from 18 boroughs and additional counties including Hertfordshire and Bedfordshire. We have seen an increase in the number of local organisations that want to use our service directly or who are making referrals on our behalf.
We remain committed to our belief that no label should ever predetermine an individual’s capacity for growth, development and achievement and all our programmes are designed to empower children and young people through the values of yoga.
Trustees Responsibilities
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(a) the trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice;
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(b) company law requires the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit profit or loss of the charity for that period;
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(c) in preparing the financial statements the trustees are required to:
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(i) select suitable accounting policies and then apply them consistently;
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(ii) make judgements and accounting estimates that are reasonable and prudent;
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(iii) State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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(iv) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
Jackson Nicholas Assie Limited Chartered Certified Accountants
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MahaDevi Yoga Centre
Trustees' Annual Report (continued)
Year ended 30 April 2022
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(d) the trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy al any time the financial position of the charity and that enable them to ensure that the financial statements comply with the Charities Act;
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(e) the directors are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities; and
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(f) where appropriate, the directors are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website.
Events after the end of the reporting period
Particulars of events after the reporting date are detailed in note 18 to the financial statements.
The trustees' annual report was approved on 13 July 2023 and signed on behalf of the board of trustees by:
Anaïs SägesserAnaïs Sägesser (Jul 17, 2023 15:50 GMT+2) Elina NupponenElina Nupponen (Jul 18, 2023 10:12 GMT+1) A Sagesser E Nupponen Chair Trustee
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 8 -
Independent Examiner's Report to the Trustees of MahaDevi Yoga Centre
MahaDevi Yoga Centre
Year ended 30 April 2022
I report to the trustees on my examination of the financial statements of MahaDevi Yoga Centre ('the charity') for the year ended 30 April 2022.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
I 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 accounts to be reached.
John Assie FCCA Independent Examiner Jackson Nicholas Assie Limited Chartered Certified Accountants Suite 7, Meridian House 62 Station Road Chingford London E4 7BA
14 July 2023
Jackson Nicholas Assie Limited Chartered Certified Accountants
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MahaDevi Yoga Centre
Statement of Financial Activities
Year ended 30 April 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 14,108 | 66,395 | 80,503 | 107,802 |
| Charitable activities | 5 | 53,068 | – | 53,068 | 33,617 |
──────── |
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───────── |
||
| Total income | 67,176 | 66,395 | 133,571 | 141,419 | |
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═════════ |
||
| Expenditure | |||||
| Expenditure on charitable activities | 6,7 | 87,862 | 67,843 | 155,705 | 88,672 |
──────── |
──────── |
───────── |
───────── |
||
| Total expenditure | 87,862 | 67,843 | 155,705 | 88,672 | |
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═════════ |
═════════ |
||
──────── |
──────── |
───────── |
───────── |
||
| Net (expenditure)/income | (20,686) | (1,448) | (22,134) | 52,747 | |
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═════════ |
═════════ |
||
| Transfers between funds | (1,570) | 1,570 | – | – | |
──────── |
──────── |
───────── |
───────── |
||
| Net movement in funds | (22,256) | 122 | (22,134) | 52,747 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 54,058 | 25,436 | 79,494 | 26,747 | |
──────── |
──────── |
───────── |
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||
| Total funds carried forward | 31,802 | 25,558 | 57,360 | 79,494 | |
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═════════ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 13 to 23 form part of these financial statements.
Jackson Nicholas Assie Limited Chartered Certified Accountants
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MahaDevi Yoga Centre
Statement of Financial Position
30 April 2022
| 2022 | 2021 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Debtors | 12 | 12,842 | 4,599 |
| Cash at bank and in hand | 44,723 | 80,088 | |
──────── |
──────── |
||
| 57,565 | 84,687 | ||
| Creditors: amounts falling due within one year | 13 | 205 | 5,193 |
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──────── |
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| Net current assets | 57,360 | 79,494 | |
──────── |
──────── |
||
| Total assets less current liabilities | 57,360 | 79,494 | |
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||
| Funds of the charity | |||
| Restricted funds | 25,558 | 25,436 | |
| Unrestricted funds | 31,802 | 54,058 | |
──────── |
──────── |
||
| Total charity funds | 14 | 57,360════════ |
79,494════════ |
These financial statements were approved by the board of trustees and authorised for issue on 13 July 2023, and are signed on behalf of the board by:
A Sagesser Trustee
E Nupponen Trustee
The notes on pages 13 to 23 form part of these financial statements.
Jackson Nicholas Assie Limited Chartered Certified Accountants
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MahaDevi Yoga Centre
Statement of Cash Flows
Year ended 30 April 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net (expenditure)/income | (22,134) | 52,747 |
| Adjustments for: | ||
| Accrued income | (1,250) | (80) |
| Changes in: | ||
| Trade and other debtors | (6,993) | (672) |
| Trade and other creditors | (4,988) | 2,338 |
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|
| Cash generated from operations | (35,365) | 54,333 |
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──────── |
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| Net cash (used in)/from operating activities | (35,365) | 54,333 |
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| Net (decrease)/increase in cash and cash equivalents | (35,365) | 54,333 |
| Cash and cash equivalents at beginning of year | 80,088 | 25,755 |
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| Cash and cash equivalents at end of year | 44,723 | 80,088 |
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Jackson Nicholas Assie Limited Chartered Certified Accountants
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MahaDevi Yoga Centre
Notes to the Financial Statements
Year ended 30 April 2022
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is a Charitable Incorporated Organisation. The address of the principal office is 12 Eden Grove, London, N7 8EQ.
2. Statement of compliance
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued in October 2019 and the financial reporting standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011, and UK Generally Accepted Practice as it applies from 1 January 2019.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Significant judgements
There have not been any judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub-classes: restricted income funds or endowment funds.
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 13 -
MahaDevi Yoga Centre
Notes to the Financial Statements (continued)
Year ended 30 April 2022
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 14 -
MahaDevi Yoga Centre
Notes to the Financial Statements (continued)
Year ended 30 April 2022
3. Accounting policies (continued)
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Donations | |||
| Golden Giving Christmas Campaign | – | – | – |
| Landsdowne Partners | 5,000 | – | 5,000 |
| Gift Aid | 173 | – | 173 |
| Donations < £1000 | 5,435 | – | 5,435 |
| Grants | |||
| The Clothworkers Foundation | – | 10,000 | 10,000 |
| National Lottery | – | 9,754 | 9,754 |
| Garfield Weston | – | 9,000 | 9,000 |
| Sport England Covid | – | 6,802 | 6,802 |
| Edward Gostling | – | 4,860 | 4,806 |
| New Hoist Fund | – | 3,000 | 3,000 |
| Morris Charitable Fund | – | 3,000 | 3,000 |
| TFL & Mayor of London & Cycling | – | 2,991 | 2,991 |
| Cripplegate | – | 2,980 | 2,980 |
| Bruce Wakes | – | 2,700 | 2,700 |
| Islington Council – Omicron | 2,500 | – | 2,500 |
| London Catalyst | – | 2,000 | 2,000 |
| Magdalene Hospital Trust | – | 2,000 | 2,000 |
| Leathersellers Therapy | – | 1,500 | 1,500 |
| Little Lives UK | – | 1,500 | 1,500 |
| Arsenal Foundation | – | 1,250 | 1,250 |
| The Astor Foundation | 1,000 | – | 1,000 |
| The Royal Society of St George | – | 500 | 500 |
| Albert Hunt Trust | – | 1,000 | 1,000 |
| Local Giving Islington Magic | – | 500 | 500 |
| Groundworks - Tesco Bags | – | 500 | 500 |
| Starland Music Limited | – | 358 | 358 |
| Blakemore Foundation | – | 200 | 200 |
| Lottery Grant | – | – | – |
| Islington Council's Community Chest | – | – | – |
| Landsdown Partners | – | – | – |
| ESC Lottery Fund | – | – | – |
| Varrier Jones Trust | – | – | – |
| City Bridge Trust Covid Response | – | – | – |
| Ground Works London | – | – | – |
| Government Covid Grants | – | – | – |
| Belvedere Trust | – | – | – |
| Sylvia Waddilove | – | – | – |
| Alpkit Foundation: Nature Walks | – | – | – |
| Comic Relief Fund (Groundwork UK) | – | – | – |
| Islington Council - Electric Bikes | – | – | – |
──────── |
──────── |
──────── |
|
| 14,108 | 66,395 | 80,503 | |
════════ |
════════ |
════════ |
- 15 -
Jackson Nicholas Assie Limited Chartered Certified Accountants
MahaDevi Yoga Centre
Notes to the Financial Statements (continued)
Year ended 30 April 2022
4. Donations and legacies (continued)
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Donations | |||
| Golden Giving Christmas Campaign | 8,895 | – | 8,895 |
| Landsdowne Partners | – | – | – |
| Gift Aid | – | – | – |
| Donations < £1000 | 8,005 | – | 8,005 |
| Grants | |||
| Government Covid Grants | 29,222 | – | 29,222 |
| City Bridge Trust Covid Response | – | 9,979 | 9,979 |
| Lottery Grant | – | 9,905 | 9,905 |
| Islington Council's Community Chest | – | 9,905 | 9,905 |
| ESC Lottery Fund | 9,485 | – | – |
| Albert Hunt Trust | – | – | – |
| Landsdown Partners | 5,000 | – | 5,000 |
| Varrier Jones Trust | – | 5,000 | 5,000 |
| Ground Works London | – | 4,926 | 4,926 |
| Islington Council – Electric Bikes | – | 2,480 | 2,480 |
| Leathersellers Therapy | – | 1,500 | 1,500 |
| Belvedere Trust | 1,000 | – | 1,000 |
| Sylvia Waddilove | 1,000 | – | 1,000 |
| Comic Relief Fund (Groundwork UK) | – | 1,000 | 1,000 |
| Alpkit Foundation: Nature Walks | – | 500 | 500 |
| Starland Music Limited | – | – | – |
| The Royal Society of St George | – | – | – |
| New Hoist Fund | – | – | – |
| Morris Charitable Trust | – | – | – |
| Little Lives UK | – | – | – |
| TFL & Mayor of London Walking & Cycling | – | – | – |
| Blakemore Foundation | – | – | – |
| Islington Council - Omicron | – | – | – |
| Garfield Weston | – | – | – |
| The Astor Foundation | – | – | – |
| Local Giving Islington Magic | – | – | – |
| Sport England Covid | – | – | – |
| London Catalyst | – | – | – |
| National Lottery | – | – | – |
| Edward Gosling | – | – | – |
| Bruce Wake | – | – | – |
| Groundworks - Tesco Bags | – | – | – |
| Magdalene Hospital Trust | – | – | – |
| The Clothworkers Foundation | – | – | – |
| Cripplegate | – | – | – |
──────── |
──────── |
───────── |
|
| 62,607 | 45,195 | 107,802 | |
════════ |
════════ |
═════════ |
- 16 -
Jackson Nicholas Assie Limited Chartered Certified Accountants
MahaDevi Yoga Centre
Notes to the Financial Statements (continued)
Year ended 30 April 2022
5. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Yoga Classes | 5,746 | 5,746 | 4,311 | 4,311 |
| Therapy Classes | 44,690 | 44,690 | 28,723 | 28,723 |
| Cafe Income | 2,264 | 2,264 | – | – |
| Workshop Income | 261 | 261 | 431 | 431 |
| Other income - supplier refunds and | ||||
| uncategorised | 107 | 107 | 152 | 152 |
──────── |
──────── |
──────── |
──────── |
|
| 53,068 | 53,068 | 33,617 | 33,617 | |
════════ |
════════ |
════════ |
════════ |
6. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Provision of yoga services | 86,602 | 67,843 | 154,445 |
| Support costs | 1,260 | – | 1,260 |
──────── |
──────── |
───────── |
|
| 87,862 | 67,843 | 155,705 | |
════════ |
════════ |
═════════ |
|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Provision of yoga services | 55,313 | 32,399 | 87,712 |
| Support costs | 960 | – | 960 |
──────── |
──────── |
──────── |
|
| 56,273 | 32,399 | 88,672 | |
════════ |
════════ |
════════ |
7. Expenditure on charitable activities by activity type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Total funds | Total fund | |||
| directly Support costs | 2022 | 2021 | |||
| £ | £ | £ | £ | ||
| Provision of yoga services | 154,445 | – | 154,445 | 87,712 | |
| Governance costs | – | 1,260 | 1,260 | 960 | |
───────── |
─────── |
───────── |
──────── |
||
| 154,445 | 1,260 | 155,705 | 88,672 | ||
═════════ |
═══════ |
═════════ |
════════ |
||
| 8. | Analysis of support costs |
| Total 2022 | Total 2021 | |
|---|---|---|
| £ | £ | |
| Governance costs | 1,260 | 960 |
═══════ |
════ |
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 17 -
MahaDevi Yoga Centre
Notes to the Financial Statements (continued)
Year ended 30 April 2022
9. Independent examination fees
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 1,260═══════ |
960════ |
10. Staff costs
The average head count of employees during the year was Nil (2021: Nil).
There were no staff costs or employee benefits for the reporting or previous year.
No employee received benefits of more than £60,000 during the year (2021: Nil)
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total paid to key management personnel for services provided to the charity was £47,282 (2021: £38,490).
11. Trustee remuneration and expenses
-
no remuneration or other benefits from employment with the charity or a related entity were received by the trustees; or
-
no trustees has been paid for services provided or received other benefits from employment with the charity or a related entity.
-
no trustee expenses have been incurred
12. Transfers between funds
Transfers from unrestricted funds to restricted funds are to make good funding shortfalls and eliminate negative fund balances.
13. Debtors
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Trade debtors | 11,033 | 4,040 | |
| Prepayments and accrued income | 1,809 | 559 | |
──────── |
─────── |
||
| 12,842 | 4,599 | ||
════════ |
═══════ |
||
| 14. | Creditors: amounts falling due within one year | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Trade creditors | 205 | 5,193 | |
════ |
═══════ |
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 18 -
MahaDevi Yoga Centre
Notes to the Financial Statements (continued)
Year ended 30 April 2022
15. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At | At | |||||
| 1 May 2021 | Income | Expenditure | Transfers | 30 April 2022 |
||
| £ | £ | £ | £ | £ | ||
| General funds | 54,058 | 67,176 | (87,862) | (1,570) | 31,802 |
|
════════ |
════════ |
════════ |
════ |
════════ |
||
| At | At | |||||
| 1 May 2020 | Income | Expenditure | Transfers | 30 April 2021 | ||
| £ | £ | £ | £ | £ | ||
| General funds | 15,800 | 96,224 | (56,273) | (1,693) | 54,058 |
|
════════ |
════════ |
════════ |
═══════ |
════════ |
||
| Restricted funds | ||||||
| At | At | |||||
| 1 May 2021 | Income | Expenditure | Transfers | 30 April 2022 |
||
| £ | £ | £ | £ | £ | ||
| National Lottery Grant | 5,947 | – | (6,148) | 201 | – | |
| Islington Giving Grant | 5,000 | – | (4,097) | – | 903 | |
| Lottery Grant | 2,010 | – | (2,061) | 51 | – | |
| Islington Council's Community | ||||||
| Chest | 429 | – | (429) | – | – | |
| Leathersellers Therapy | 1,500 | 1,500 | (1,262) | – | 1,738 | |
| Varrier Jones Trust | – | – | – | – | – | |
| City Bridge Trust | 4,231 | – | (3,904) | – | 327 | |
| Ground Works London | 4,926 | – | (5,039) | 113 | – | |
| Alpkit Foundation | 393 | – | (393) | – | – | |
| Comic Relief - Groundwork UK | 1,000 | – | (999) | – | 1 | |
| Islington Council - Electric | ||||||
| Bikes | – | – | – | – | – | |
| Albert Hunt Trust | – | 1,000 | (1,015) | 15 | – | |
| The Royal Society of St | ||||||
| George | – | 500 | (321) | – | 179 | |
| Morris Charitable Trust | – | 3,000 | (75) | – | 2,925 | |
| Bruce Wake Charitable Trust | – | 3,000 | – | – | 3,000 | |
| Little Lives UK | – | 1,500 | – | – | 1,500 | |
| TFL & Mayor of London | ||||||
| Walking & Cycling | – | 2,991 | – | – | 2,991 | |
| Blakemore Foundation | – | 200 | – | – | 200 | |
| Garfield Weston | – | 9,000 | (9,240) | 240 | – | |
| Local Giving Islington Magic | – | 500 | (507) | 7 | – | |
| Sport England - COVID | – | 6,802 | (7,475) | 673 | – | |
| London Catalyst | – | 2,000 | (1,194) | – | 806 | |
| National Lottery | – | 9,754 | (5,573) | – | 4,181 | |
| Edward Gostling Foundation | – | 4,860 | (5,040) | 180 | – | |
| Bruce Wake | – | 2,700 | – | – | 2,700 | |
| Groundworks - Tesco Bags | – | 500 | (590) | 90 | – | |
| Magdalene Hospital Trust | – | 2,000 | – | – | 2,000 | |
| The Clothworkers Foundation | – | 10,000 | (9,707) | – | 293 | |
| Cripplegate | – | 2,980 | (2,706) | – | 274 | |
| Starland Music Limited | – | 358 | – | – | 358 | |
| The Arsenal Foundation | ||||||
| Gunners Fund | – | 1,250 | (68) | – | 1,182 | |
| ──────── | ──────── | ──────── | ──────── | ──────── | ||
| 25,436 | 66,395 | (67,843) | 1,570 | 25,558 | ||
| ════════ | ════════ | ════════ | ════════ | ════════ |
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 19 -
MahaDevi Yoga Centre
Notes to the Financial Statements (continued)
Year ended 30 April 2022
15. Analysis of charitable funds (continued)
| Analysis of charitable fu | nds (continued) | ||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 May 2020 | Income | Expenditure | Transfers | 30 April 2021 |
|
| £ | £ | £ | £ | £ | |
| National Lottery Grant | 5,947 | – | – | – | 5,947 |
| Islington Giving Grant | 5,000 | – | – | – | 5,000 |
| Lottery Grant | – | 9,905 | (7,895) | – | 2,010 |
| Islington Council's Community | |||||
| Chest | – | 9,905 | (9,476) | – | 429 |
| Leathersellers Therapy | – | 1,500 | – | – | 1,500 |
| Varrier Jones Trust | – | 5,000 | (5,782) | 782 | – |
| City Bridge Trust | – | 9,979 | (5,748) | – | 4,231 |
| Ground Works London | – | 4,926 | – | – | 4,926 |
| Alpkit Foundation | – | 500 | (107) | – | 393 |
| Comic Relief - Groundwork UK | – | 1,000 | – | – | 1,000 |
| Islington Council - Electric | |||||
| Bikes | – | 2,480 | (3,391) | 911 | – |
| Albert Hunt Trust | – | – | – | – | – |
| The Royal Society of St | |||||
| George | – | – | – | – | – |
| Morris Charitable Trust | – | – | – | – | – |
| Bruce Wake Charitable Trust | – | – | – | – | – |
| Little Lives UK | – | – | – | – | – |
| TFL & Mayor of London | |||||
| Walking & Cycling | – | – | – | – | – |
| Blakemore Foundation | – | – | – | – | – |
| Garfield Weston | – | – | – | – | – |
| Local Giving Islington Magic | – | – | – | – | – |
| Sport England - COVID | – | – | – | – | – |
| London Catalyst | – | – | – | – | – |
| National Lottery | – | – | – | – | – |
| Edward Gostling Foundation | – | – | – | – | – |
| Bruce Wake | – | – | – | – | – |
| Groundworks - Tesco Bags | – | – | – | – | – |
| Magdalene Hospital Trust | – | – | – | – | – |
| The Clothworkers Foundation | – | – | – | – | – |
| Cripplegate | – | – | – | – | – |
| Starland Music Limited | – | – | – | – | – |
| The Arsenal Foundation | |||||
| Gunners Fund | – | – | – | – | – |
| Local Giving - Islington Magic | |||||
| Little Grants | – | – | – | – | – |
| Sport England - Return to Play | |||||
| - Covid | – | – | – | – | – |
| ──────── | ──────── | ──────── | ─────── | ──────── | |
| 10,947 | 45,195 | (32,399) | 1,693 | 25,436 | |
| ════════ | ════════ | ════════ | ═══════ | ════════ |
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 20 -
MahaDevi Yoga Centre
Notes to the Financial Statements (continued)
Year ended 30 April 2022
15. Analysis of charitable funds (continued)
Purposes of Funds
The National Lottery grant - to fund partnerships and engagements
The Islington Giving Grant - to fund work experience placements for adults with learning difficulties.
Lottery grant is a covid grant – towards yoga services
Islington Council’s Community Chest – Funding for the work experience/volunteer programmes
Leathersellers grant – towards 1-2-1 therapy
Varrier Jones Trust – Funding towards salaries
City Bridge Trust – This grant was to support yoga therapy online and in person
Groundworks (London) – This grant to purchase musical instruments
Alpkit Foundation – To provide support to enable nature walks to be carried out
Groundwork (Comic Relief) – This grant was for the purchase of a new laptop
Albert Hunt Trust – The grant was for the provision of group yoga services
The Royal Society of St George – The grant was for DBS checks to be carried out in relation to the café
The Morris Charitable Trust – To enable wellbeing activities to be carried out
The Bruce Wake Charitable Trust – For the purchase of a new hoist
Little Lives UK – For the provision of 1-2-1 therapy
TFL & Mayor of London Walking and Cycling - To provide support to enable nature walks to be carried out
Blakemore Foundation - For the provision of 1-2-1 therapy
Garfield Weston – Grant provided for management salaries Local Giving Islington Magic – For the provision of drumming and yoga services Sports England (Covid) – To support essential changes to facilities due to covid London Catalyst – Funding to support girls yoga group National Lottery – Funding to support partnerships and community engagement Edward Gostling – Funding for the salaries of core staff
Groundworks (Tesco Bags) – For the purchase of musical instruments
The Magdalene Hospital Trust – Funding to provide music therapy and drumming services
Cripplegate – For the purchase of an Induction Loop and braille signage Starland Music – For the purchase of new drums Arsenal Foundation – Grant obtained for group classes for kids from poorer families
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 21 -
MahaDevi Yoga Centre
Notes to the Financial Statements (continued)
Year ended 30 April 2022
16. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Current assets | 32,007 | 25,558 | 57,565 | |
| Creditors less than 1 year | (205) | – | (205) | |
──────── |
──────── |
──────── |
||
| Net assets | 31,802 | 25,558 | 57,360 | |
════════ |
════════ |
════════ |
||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Current assets | 59,251 | 25,436 | 84,687 | |
| Creditors less than 1 year | (5,193) | – | (5,193) | |
──────── |
──────── |
──────── |
||
| Net assets | 54,058 | 25,436 | 79,494 | |
════════ |
════════ |
════════ |
||
| 17. | Analysis of changes in net debt | |||
| At | At | |||
| 1 May 2021 | Cash flows | 30 Apr 2022 | ||
| £ | £ | £ | ||
| Cash at bank and in hand | 80,088 | (35,365) | 44,723 |
|
════════ |
════════ |
════════ |
||
| 18. | Operating lease commitments |
| The total future minimum lease payments under non-cancellable operating leases are | The total future minimum lease payments under non-cancellable operating leases are | as follows: |
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Not later than 1 year | 1,200 | 1,200 |
| Later than 1 year and not later than 5 years | 2,400 | 3,600 |
─────── |
─────── |
|
| 3,600 | 4,800 | |
═══════ |
═══════ |
19. Post balance sheet events
The trustees have considered the likelihood of any negative subsequent events arising and have concluded that the incidence of such events is likely to be minimal.
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 22 -
MahaDevi Yoga Centre
Notes to the Financial Statements (continued)
Year ended 30 April 2022
20. Related parties
During the year the charity entered into the following transactions with related parties:
| Transaction | value | |
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Denisa Nenova - Yoga/Therapy & | ||
| admin services provided | 24,705 | 20,863 |
| Ben Eydmann - Yoga services | ||
| provided | 22,577 | 17,627 |
| Joe Kirwin donations to MahaDevi | – | (120) |
════════ |
════════ |
Both Ben Eydmann and Denisa Nenova are the key management personnel of the charity. The use of their services was agreed by other board members, to ensure the transactions were at arm's length the hourly rate remained the same as other contractors providing admin and yoga services.
Also, during the reporting period MahaDevi Yoga Switzerland, of which Anais Sagesser is a director, donated £808 (2021: £435).
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 23 -
2023-07-18
MYC 2022 Final Accounts v2
Final Audit Report
Created: 2023-07-17 By: Benjamin Eydmann (ben@mahadevicentre.com) Status: Signed Transaction ID: CBJCHBCAABAAXN-kkXO3YuLwGq4dVCxtpkG0kXAQxgwz
"MYC 2022 Final Accounts v2" History
Document created by Benjamin Eydmann (ben@mahadevicentre.com)
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Document emailed to anaishannah@gmail.com for signature
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Signer anaishannah@gmail.com entered name at signing as Anaïs Sägesser
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Document e-signed by Anaïs Sägesser (anaishannah@gmail.com)
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Agreement completed.
2023-07-18 - 9:12:50 AM GMT
John Assie
Jackson Nicholas Assie Limited t/a Jackson & Jackson Suite 7 Meridian House 62 Station Road Chingford London E4 7BA
Dear Sir
During the course of your examination of our financial statements for the period ending 30 April 2022, the following representations were made to you.
-
We acknowledge as directors/trustees our responsibilities under the Charities Act 2011 for preparing financial statements, in accordance with UK GAAP that give a true and fair view and for making accurate representations to you as examiners.
-
We confirm that all accounting records have been made available to you for the purposes of your examination, in accordance with your terms of engagement, and that all transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information have been made available to you. We have given you unrestricted access to persons within the charity and have provided any additional information that you have requested for the purposes of your examination.
-
We confirm that significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.
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We confirm that all known actual or possible litigation and claims whose effects should be considered when preparing the financial statements have been disclosed and accounted for and disclosed in accordance with UK GAAP.
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We confirm that there have been no events since the balance sheet date which require disclosing or which would materially affect the amounts in the financial statements, other than those already disclosed or included in the financial statements.
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We confirm that all related party relationships and transactions have been accounted for and disclosed in accordance with UK GAAP.
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We confirm that the charity has had, at no time during the year, any arrangement, transaction or agreement to provide credit facilities (including loans, quasi-loans or credit transactions) for directors/trustees, nor to guarantee nor provide security for such matters, except as already disclosed in the accounts.
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We confirm that the charity has not contracted for any capital expenditure other than as disclosed in the financial statements.
MahaDevi Yoga Centre, 12 Eden Grove, London, N7 8EQ Phone: 07753121962 ⚫ E-Mail: info@mahadevicentre.com Web: www.mahadevicentre.com
Registered Charity 1177960
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We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal framework within which the charity conducts its business and which are central to the charity's ability to conduct its business, except as explained to you and as disclosed in the financial statements.
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We acknowledge our responsibility for the design and implementation of controls to prevent and detect fraud. We confirm that we have disclosed to you the results of our risk assessment of the risk of fraud in the charity.
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We confirm that there have been no actual or suspected instances of fraud involving trustees, management or employees who have a significant role in internal control that could have a material effect on the financial statements. We also confirm that we are not aware of any allegations of fraud by former trustees, employees, regulators or others.
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We confirm that, in our opinion, the charity is a going concern on the grounds that current and future sources of funding or support will be more than adequate for the charity’s needs. We believe that no further disclosures in respect of the charity's ability to continue as a going concern need to be made in the financial statements. We also confirm the period that we have considered covers a minimum of 12 months from the date of this letter.
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We confirm that all grants, donations and other income, including those subject to special terms or conditions or received for restricted purposes, have been notified to you. There have been no breaches of terms or conditions during the period regarding the application of such income.
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We confirm that in our opinion the effects of uncorrected misstatements are immaterial, both individually and in aggregate, on the financial statements as a whole. A list of the uncorrected misstatements is attached to this letter.
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We confirm that we are not aware of any matters of material significance that should be reported to the Charity Commission.
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We confirm that there are no companies associated with this charitable company for tax purposes. We understand that companies are associated for tax purposes if they are under the control of the same person or persons. We also understand that for this purpose a person might be treated as one and the same person as: a close relative, a business partner; a trustee of a settlement of which the person or a relative was the settlor; and any company in which any of these is also a shareholder.
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We acknowledge our legal responsibilities regarding disclosure of information to you as examiner and confirm that:
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so far as each trustee is aware, there is no relevant information of which you as examiner are unaware; and
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each trustee has taken all the steps that he/she ought to have taken as a trustee to make him/herself aware of any relevant information and to establish that you are aware of that information.
MahaDevi Yoga Centre, 12 Eden Grove, London, N7 8EQ Phone: 07753121962 ⚫ E-Mail: info@mahadevicentre.com Web: www.mahadevicentre.com
Registered Charity 1177960
We confirm that the above representations are made on the basis of enquiries of management and staff with relevant knowledge and experience and, where appropriate, of inspection of supporting documentation sufficient to satisfy us that we can properly make each of the above representations to you.
Signed
Name: A Sagesser Dated: 13 July 2023 Trustee
Signed
Name: B Eydmann Date: 13 July 2023 CEO
MahaDevi Yoga Centre, 12 Eden Grove, London, N7 8EQ Phone: 07753121962 ⚫ E-Mail: info@mahadevicentre.com Web: www.mahadevicentre.com
Registered Charity 1177960