Annual Report and Accounts 1[st] July 2021 to 30[th] June 2022
Dated 8[th] August 2022
| Chairman | Accountants |
|---|---|
| David Priddy | Airde Accountancy |
| 5, Saxon Road, | Potential House, |
| Ashford | 19, Abbey Road, |
| Middlesex | Chertsey, |
| TW15 1QL | Surrey, |
| KT16 8AL |
SICEWT is Charity Number 1179195 Registered in England
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Annual Report July 1[st] 2021 – June 30[th] 2022
This report has been prepared to comply with Charity Commission requirements. “Charity reporting and accounting: the essentials“, 1[st] January 2013. Under section 4.1.1, the Charity is not required to send this report to the Charity Commission until the income exceeds £25,000.
1.1 Reference and administrative details of the charity, its trustees and advisers (SORP para 41)
The charity is registered with the Charity Commission as ‘South India Children’s Education and Welfare Trust’, abbreviated to ‘SICEWT’.
The charity registration number is 1179195.
The registered office is Airde Accountancy, Potential House, 19, Abbey Road, Chertsey, KT16 8AL.
The Trustees are:
-
Chairman The Rev’d David Brian Priddy Term concludes at the AGM in 2022
-
• Secretary Mr Roger Barry Kenneth Ramm Term concludes at the AGM in 2022 • Treasurer Mr Valjit Grover Re-elected for 3 years at the AGM in 2021 • Fund raising Mr Manmeet Grover Re-elected for 3 years at the AGM in 2021
There have been no other Trustees during the year.
1.2 Structure, governance and management (SORP para 44)
The Constitution of the Charity, dated 23rd May 2018, was accepted by the Charity Commission which registered us as a Charitable Incorporated Organisation on 23rd July 2018.
Apart from the first charity trustees, every trustee must be appointed by a resolution passed at a properly convened meeting of the charity trustees. It has not been necessary to recruit additional trustees at this stage of our work. New trustees will be inducted and made aware of their responsibilities to the charity and directed to the Charity Commission’s resources.
In selecting individuals for appointment as charity trustees, the charity trustees have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
1.3 A financial review (SORP paras 55 & 56)
The charity has a policy of applying its income to the making of grants.
Most assets were banked through Metro Bank. Some income is generated through PayPal and the PayPal Giving Fund. This latter income is occasionally transferred to Metro Bank.
The Charity holds a small cash balance which is banked periodically.
We generally hold £5,000 in reserve.
SICEWT is Charity Number 1179195 Registered in England Page 2
1.4 Funds held as custodian trustee on behalf of others (SORP para 59)
We do not hold funds on behalf of other charities or individuals.
1.5 Public benefit statement
The charity trustees have complied with their duty to have due regard to the guidance on public benefit published by the commission in exercising their powers or duties.
2 Matters smaller charities not subject to statutory audit must also report
2.1 Objectives and activities (SORP paras 47 & 52)
The object of the CIO is to promote, encourage and support the education and physical welfare of disadvantaged children in South India through directed grants to the Elim Charitable Trust in Bengaluru and other established projects managed by Indian Nationals registered with the Charity after proper checks of their credentials.
The main activities of the CIO are fund-raising through Charity collection boxes and other donations which are then applied to South Indian NGOs following applications for grants approved by the Trustees.
2.2 Achievements and performance (SORP paras 53 & 54)
This has seen a year of modest growth in our fundraising, enhanced by the assistance of an additional volunteer, but tempered by the trend towards contactless payments in lieu of cash.
We have been pleased to receive individual donations, but our main fundraising is through established contacts in local shops where our Collection Boxes are placed, generally adjacent to tills in Convenience Stores. Boxes are collected periodically, and most shops accept replacements. Collection and counting of the contents follows our established ‘Charity Box Process - Issue 4’. We have further extended our geographical reach this year and have 195 boxes in shops which are visited periodically in 7 ‘Rounds’ shown by coloured markers on the map. The black markers indicate additional prospects.
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Distribution of Collection boxes
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Grants are made in accordance with our Grants In the period of this report we have made 2 grants to Indian NGOs who match our charitable aims. Grants are only given after formal assessment of the organisation and their specific applications.
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Children in Kakinada gathered around equipment we have provided
Three Grant applications were assessed in accordance with the Grant Making Process (Issue 1) of which 2 were successful.
• Grant 08 was made to Bharath Abhyudaya Seva Samith for Computer Equipment and school bags for children in a remote village, Dasaripalem in Andhra Pradesh.
• Grant 09 was made to Mission to the Nations in Kakinada to facilitate schooling for 200 children. Half of the grant has been paid with provision in the accounts for a second instalment to made in the year ahead.
We have evidence of our grants being received by the recipient organisation and appropriately applied.
One substantial Grant Application was rejected by the Trustees, largely through lack of available funds but partially for failing our ‘due diligence’ checks. Having made provision for these grants, our funds are higher at the end of the year than planned.
Our fund-raising and grant-making performance since our registration is shown in the diagram, indicating that we have adequate reserves and capacity to respond to future grant requests.
3 Matters that charities subject to statutory audit must also report
Not applicable.
4 Additional reporting requirements where group accounts are prepared
Not applicable.
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Annual Accounts July 1[st] 2021 – June 30[th] 2022
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A Charitable Incorporated Organisation 1179195
Balance Sheet as at 30th June 2022
| Notes Fixed Assets £ Tangible Assets A Investments Current Assets Total Cash/Bank 14523.32 Creditors: amounts falling due within one year 0.00 Net current assets Net Assets Reserves Income and Expenditure Account Total Reserves |
2022 £ £ 144.00 0.00 6217.87 0.00 14523.32 14667.32 14667.32 14667.32 |
2021 £ 288.00 0.00 6217.87 |
|---|---|---|
| 6505.87 | ||
| 6505.87 | ||
| 6505.87 |
Notes
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A The Charity owns a garden office which is depreciated on a straight line basis over its useful life of 5 years. Initial cost £720, Accumulated depreciation £576 and net book value £144. All other capital assets are written off in the year of acquisition.
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B The Trustees are satisfied that the charity is exempt from the requirement to obtain an audit in accordance with Charities Act 2011 (Accounts and Audit) Order 2015
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C The Trustees acknowledge their responsibilities to obtain an Independent Examination of the accounts when the gross income amounts to £250,000.
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D The accounts have been prepared on an income and expenditure basis
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A Charitable Incorporated Organisation 1179195
Balance Sheet as at 30th June 2022
| Notes Fixed Assets £ Tangible Assets A Investments Current Assets Total Cash/Bank 14523.32 Creditors: amounts falling due within one year 0.00 Net current assets Net Assets Reserves Income and Expenditure Account Total Reserves |
2022 £ £ 144.00 0.00 6217.87 0.00 14523.32 14667.32 14667.32 14667.32 |
2021 £ 288.00 0.00 6217.87 |
|---|---|---|
| 6505.87 | ||
| 6505.87 | ||
| 6505.87 |
Notes
-
A[The Charity owns a garden office which is depreciated on a straight line basis over its ] useful life of 5 years. Initial cost £720, Accumulated depreciation £576 and net book value £144. All other capital assets are written off in the year of acquisition.
-
B The Trustees are satisfied that the charity is exempt from the requirement to obtain an audit in accordance with Charities Act 2011 (Accounts and Audit) Order 2015
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C The Trustees acknowledge their responsibilities to obtain an Independent Examination of the accounts when the gross income amounts to £250,000.
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D The accounts have been prepared on an income and expenditure basis
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A Charitable Incorporated Organisation 1179195 Date of Incorporation: 13th July 2018
Notes to the Accounts for the year to 30th June 2022
1 Accounting Policies Basis of Preparation
The accounts have been prepared on an Income and Expenditure basis
Incoming Resources
Incoming Resources are the amounts received from individuals and through fund-raising activities such as shop-based collection boxes
| 2 Creditors: amounts falling due within one year 2022 Uncleared cheques £0.00 Other creditors £0.00 Total £0.00 3 Income and Expenditure Account At 1st July 2021 £ 6,505.87 Excess of Income Over Expenditure for the year £ 8,161.45 At 30th June 2022 £ 14,523.32 4 Trustees remuneration and expenses No remuneration is paid directly or indirectly to any Trustee. Permitted expenses incurred by the Chairman whilst collecting boxes have been paid but reimbursed in full with net zero cost to SICEWT £ 771.25 5 Employees There have been no employees in the past year 6 Designated funds The accounts include sums designated for specific grants which were not fully paid in the year £ 3,845.00 |
2021 £0.00 £0.00 |
|---|---|
| £0.00 | |
| £ 7,479.59 -£ 973.72 |
|
| £ 6,505.87 | |
| £ 329.67 £ - |
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A Charitable Incorporated Organisation 1179195
Summary of Financial Activities as at 30th June 2022
| Incoming Resources Charitable Activities Administrative expenses Excess of Income over Expenditure Transfer to Reserves |
2022 £ 15167.11 -5924.04 9243.07 -1081.62 8161.45 8161.45 |
2021 £ 13005.55 -13494.81 |
|---|---|---|
| -489.26 | ||
| -484.46 | ||
| -973.72 -973.72 |
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A Charitable Incorporated Organisation 1179195
Detailed Statement of Financial Activities as at 30th June 2022
| Note RECEIPTS Incoming Resources Charity Boxes General Giving Gifts Gift Aid Reclaim Received Other Income Total PAYMENTS Charitable Activities Direct Grants within England and Wales Direct Grants external to England and Wales Administrative Expenses Employee wages Trustees expenses A Costs of Fund Raising Depreciation B Insurance Other Outgoings Total C Total Outgoings |
2022 £ 10570.14 1987.32 2389.34 220.31 15167.11 0.00 5924.04 0.00 771.25 9.98 144.00 145.60 10.79 1081.62 7005.66 |
2021 £ 9953.16 386.33 2410.04 256.02 |
|---|---|---|
| 13005.55 | ||
| 0.00 13494.81 0.00 329.67 0.00 144.00 0.00 10.79 |
||
| 484.46 | ||
| 13979.27 |
Notes
A The legitimate Expenses have been reimbursed to the Charity and are shown only for transparency
B The Charity owns a garden office which is depreciated on a straight-line basis over its useful life of 5 years
C The Administrative Overheads equate to 2.2% of income - [last year 1.2%]
SICEWT is Charity Number 1179195 Registered in England
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