SRI LANKAN BOLTON COMMUNITY UK
FINANCIAL STATEMENTS 31 March 2024
Accounts
Charity Number 1181073
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SRI LANKAN BOLTON COMMUNITY UK
FINANCIAL STATEMENTS
YEAR ENDED 31 March 2024
| CONTENTS | PAGE |
|---|---|
| Trustees Annual Report | 3 |
| Independent examiner’s report to the members | 8 |
| Statement of Financial Activities (incorporating the | 9 |
| Income and expenditure account) | |
| Balance sheet | 10 |
| Notes to the financial statements | 11 |
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SRI LANKAN BOLTON COMMUNITY UK
TRUSTEES ANNUAL REPORT (continued)
YEAR ENDED 31 March 2024
The SRI LANKAN BOLTON COMMUNITY UK is a non-profitable charity organisation based in Bolton. Our organization has been established October 2015.
To relieve financial hardship, distress and suffering among poor people, victims of natural disasters and other people in need by means of, but not exclusively, making grants or loans for providing or paying for items, equipment, services and facilities, including the provision of food, clean water, clothing and medicines for the benefit of the said persons; (2) to advance education for the benefit of the poor, the underprivileged and the general public by means of, but not exclusively, the provision or the assistance in the provision of educational activities and facilities, such as supplementary schools and vocational training and scholarships; (3) to advance in life and relieve needs of young people through: (a) the provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life; (b) providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals. (4) to advance the religion of Islam by means of, but not exclusively, the provision of facilities of Islamic education in accordance with the teachings of the Quran and the sunnah of the prophet Muhammad (peace be upon him).
The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in 2005 in preparing the annual report and financial statements of the charity.
LEGAL AND ADMINISTRATIVE DETAILS
Registered charity name SRI LANKAN BOLTON COMMUNITY UK Registered charity number 1187073
Registered Office 93-95 Lever Street BOLTON BL3 2AB
THE TRUSTEES
The Trustees who served the charity during the period were as follows:
Mohammed Anas Sadim (President) Mohamed Anif Amanullah (Secretary) Nisthar Junaid (Treasurer) Muhammed Razmy Muhammed Razick Akram Ameen Jahankeer Abdul Manaf
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SRI LANKAN BOLTON COMMUNITY UK
TRUSTEES ANNUAL REPORT (continued)
YEAR ENDED 31 March 2024
Mohamed Shaffi Rahumattulla Mohamed Ilham Mohamed Irshad Najumudeen Kaldeen
Independent Examiner- Rasheed Rahumathullah BBA, CIMA
BANKERS
TSB Bank 400/402 Derby Street, BL3 6LS, Bolton
Structure, Governance and Management
The Organization is registered as charity with The Charity commission on 12th December 2018.
(a)
Activities
The charity carries out a wide range of activities in pursuance of its charitable aims. The trustees consider that these activities, (summarized below), benefit to Sri Lankans and other communities in Bolton/the United Kingdom and in Sri Lanka.
Volunteers
The charity is grateful for the unstinting efforts of its volunteers whose efforts are invaluable to the running of the charity. During the financial year it has been supported by more than 10 volunteers for all the activities and projects.
- Administration:
Trustee meetings attended by all Trustees are held at least 10 times a year. At these meetings, the Trustees agree the broad strategy and areas of activities of the organization, including fourth coming activities, fund raising, and risk management and performance.
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SRI LANKAN BOLTON COMMUNITY UK
TRUSTEES ANNUAL REPORT (continued)
YEAR ENDED 31 March 2024
- Operations:
Reserves Policy
The Charity needs reserve to ensure that it can fulfil and complete the charitable obligations it enters into in respect of each of its funds.
The endowment funds which are general funds are which are expandable at the discretion of the Trustees.
Investment income from the endowment is credited to unrestricted funds to which the corresponding grant expenditure is charged.
The unrestricted funds are general funds which are fully expandable. The Trustees regularly monitor the balance on unrestricted funds to ensure that there will be always be sufficient to meet charity’s general needs and other commitments.
- Investment Policy:
In accordance with the Charity’s Deed, The Trustees have the power to invest in such, cash quoted stocks, shares investment property as they see fit.
- Financial Controls:
The Charity has maintained detailed financial procedures for the initiation, administration and control of supported projects.
- Risk Management:
In accordance with current best practice, The Trustees have continued to regularly review the actual and potential risk which affect the operations and administration of the Charity and are satisfied with the procedures and the other safeguards.
Trustees Responsibilities in Relation to the Financial Statements:-
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to
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any material departures disclosed and explained in the financial statements;
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SRI LANKAN BOLTON COMMUNITY UK
TRUSTEES ANNUAL REPORT (continued)
YEAR ENDED 31 March 2024
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.
Financial review
New Financial strategies and planning tools have been developed and adopted to review and include in our financial policies, procedures and marketing plan. We are developing the potential to maximize our income from all our charitable activities to cover all our costs.
There was no allocation of funds for the purpose of investments in the financial year. They aim is to provide services within the funding available.
We aim to attract funding from a wide variety of sources - donations, direct fundraising etc. to optimize the income available to provide a wide range of services to the community and widen our services in the future.
Signed on behalf of the trustees
Mohammed A Sadim Nisthar Junaid President Treasurer Date: 23 January 2025 Date: 23 January 2025
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SRI LANKAN BOLTON COMMUNITY UK INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF THE SRI LANKAN BOLTON COMMUNITY UK
YEAR ENDED 31 March 2024
I report on the accounts of the company for the year ended 31 March 2024, which are set out on pages 9 to 14.
- Respective responsibilities of trustees and examiner:
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this period under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied me that the charity is not subject to audit is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission
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under section 145(5)(b) of the 2011 Act; and
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to state whether matters have come to my attention.
Basis of independent examiner’s statement:-
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 consideration 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 a l the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
' Independent examiner s statement:-
In connection with my examination, no matter has come to my attention (other than that disclosed below *)
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which gives me reasonable cause to believe that in, any material respect, the requirements:
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proper accounting records are kept (in accordance with section 130 of the Charities Act); and
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to prepare accounts which are accord with the accounting records and comply with accounting requirements of the Charities Act have not been met ;or
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To which, in my opinion, attention should be drawn in order to enable proper understanding of the accounts to be reached.
Onerous Reporting Accountant Rasheed Rahumathullah BBA, CIMA Independent Examiner Season Associates Ltd 12 Coleman Road Dagenham RM9 6JU 23 January 2025
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SRI LANKAN BOLTON COMMUNITY UK
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 March 2024
| Total | Total | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Funds | Funds | ||
| Funds | Funds | 2024 | 2023 | ||
| Note | £ | £ | £ | ||
| INCOMING RESOURCES | |||||
| Donations | 2 | 6,770 | - | 6,770 | 14,653 |
| Activities for generating funds | 3 | 13,798 | - | 13,798 | - |
| Building funds | 4 | 185,685 | - | 185,685 | - |
| Incoming resources from charitable activities | 5 | - | |||
| ───────── | ───────── | ───────── | ───────── | ||
| TOTAL INCOMING RESOURCES | 206,253 | 0 | 206,253 | 14,653 | |
| ───────── | ───────── | ───────── | ───────── | ||
| RESOURCES EXPENDED | |||||
| Costs of generating funds: | |||||
| Costs of generating voluntary income | 6 | (–) | (–) | (–) | (–) |
| Charitable activities | 7 | 19,649 | - | 19,649 | 12,053 |
| Governance costs | 8 | 2,574 | (–) | 2,574 | 0 |
| Loss on disposal of fixed asset | 9 | 0 | - | 0 | 0 |
| ────────── | ────────── | ────────── | ────────── | ||
| TOTAL RESOURCES EXPENDED | 22,223 | 0 | 22,223 | 12,053 | |
| ────────── | ────────── | ────────── | ────────── | ||
| NET (OUTGOING)/INCOMING | 184,030 | 0 | 184,030 | 2,600 | |
| RESOURCES BEFORE TRANSFERS | |||||
| Transfer between funds | 10 | 0 | 0 | 0 | 0 |
| ───────── | ─────── | ───────── | ───────── | ||
| NET (EXPENDITURE)/INCOME FOR | 184,030 | 0 | 184,030 | 2,600 | |
| THE YEAR | |||||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 14,570 | 0 | 14,570 | 11.970 | |
| ────────── | ────────── | ────────── | ────────── | ||
| TOTAL FUNDS CARRIED FORWARD | 198,600 | 0 | 198,600 | 14,570 | |
| ══════════ | ═════════ | ══════════ | ══════════ |
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SRI LANKAN BOLTON COMMUNITY UK
BALANCE SHEET
| 31 March 2024 | 31 March 2024 | ||
|---|---|---|---|
| 2024 | 2023 | ||
| Note | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 11 | 277,500 | 0 |
| CURRENT ASSETS | |||
| Debtors | 0 | 0 | |
| Cash at bank and in hand | 12 | 27,100 | 14,570 |
| ───────── | ───────── | ||
| 304,600 | 14,570 | ||
| CREDITORS: Amounts | falling | ||
| due within one year | 13 | (0) | (0) |
| ───────── | ───────── | ||
| ───────── | ───────── | ||
| TOTAL ASSETS LESS | |||
| CURRENT LIABILITIES | 304,600 | 14,570 | |
| ════════ | ════════ | ||
| LONG TERM LIABILITIES | |||
| Interest free loan | 14 | 106,000 | 0 |
| NET ASSETS | 198,600 | 14,570 | |
| FUNDS | |||
| Unrestricted income funds | 15 |
198,600 | 14,570 |
| Restricted income funds | |||
| ─────── | ─────── | ||
| TOTAL FUNDS | 198,600 | 14,570 | |
| ═══════ | ═══════ |
The financial statement were approved by the Trustees on 13rd January 2025 and signed on its behalf by
Mohammed Anas Sadim Nisthar Junaid (President) (Treasurer)
The notes on 11 to 14 pages form integral part of these financial statements
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SRI LANKAN BOLTON COMMUNITY UK
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 March 2024
1. Accounting policies
1.1 Basis of accounting
The financial statements have been prepared under the historical cost convention, and have been prepared in accordance with the Charities SORP 2005 (Accounting and Reporting by Charities) and applicable accounting standards, and comply with the Charities (Accounts and Reports) Regulations 2008 issued under the Charities Act 2011 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2. Incoming resources
Income is recognized in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty.
1.3. Resources expended.
Resources expended are recognized in the year in which they are incurred.
There is no Management and administration costs as the charity adopts a 100% donation policy.
1.4 Volunteers' donated services
The value of services rendered by volunteers is not incorporated in these accounts. The number of volunteers is given in the Trustees' Report. It is recognized that their efforts are invaluable to the running of the charity.
2. Donations
| Donations | Unrestricted funds Restricted funds Total 2024 Total 2023 £ £ £ £ 6,770 0 6,770 14,653 |
|---|---|
| 6,770 0 6,770 14,653 |
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SRI LANKAN BOLTON COMMUNITY UK
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 March 2024
3. Activities for generating funds
The Charity has conducted various fund collection programs, among the interested voluntary donors. The program will focus on providing information about the upcoming projects while giving a report of the past activities and receiving £13,798 during the financial year ended 31 March 2024.
4. Building Funds & Investment Income
Charity has received £185,685 as Building funds and no bank interest being received during the financial year ended 31 March 2024
5.Incoming resources from charitable activities
No Expenses occurred during this financial year
6, Costs of generating voluntary income
None in this financial year ended 31/03/2024
7. Charitable activities
The transaction related to charitable activities are as below:
| 2024 | Total | 2023 Total | |
|---|---|---|---|
| Direct Charitable expenses | |||
| Charity Project Expenses | £ | 12260 | 1897 |
| Hall hire/Ground Hire | £ | 1100 | |
| Printing & Stationery | £ | ||
| Telephone, Postage & Delivery | £ | 143 | |
| Meetings, Sport days & Awards | £ | 7389 | 8913 |
| Total | £ | 19,649 | 12,053 |
|---|---|---|---|
| 8. Governance Cost | |||
| Legal & Solicitors fees | £ | 2403 | 0.00 |
| Consultation fee | £ | 0.00 | 0.00 |
| Planning Application fee | £ | 0.00 | 0.00 |
| PropertySearch & Transfer Fees | £ | 171 | 0.00 |
| Total | £ | 2574 | 0.00 |
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SRI LANKAN BOLTON COMMUNITY UK
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 March 2024
9. No loss on sale of fixed asset
10 . No Transfers between funds made during this financial year.
11. Charity has purchased property for the value of £277,500 during the financial year. (95 Lever Street, Bolton BL3 2AB)
12 . The amount held at bank and Cash at 31.03.2024 was £27,100
13. Liabilities
No liability is reported.
14. Long term Liability Investment.
Charity has obtained interest Free (Kaz e Hasana) Loan of £106,000 during this financial year. There is no long-term investment activity during the financial year ended 31 March 2024.
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SRI LANKAN BOLTON COMMUNITY UK
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 March 2024
15. Analysis of Funds
Unrestricted funds
| Unrestricted fund - General Restricted fund Restricted fund - General Analysis of net assets between Funds Fund balances as at 31 March 2024 as represented by |
31-March-23 Incoming Outgoing 31-Mar-24 £ £ £ £ 14,570 206,253 22,223 198,600 |
|---|---|
| 14,570 206,253 22,223 198,600 |
|
| 31-March-23 Incoming Outgoing 31-Mar-24 £ £ £ £ 0 0 - 0 |
|
| 00 0 0 |
|
| Unrestricted funds Restricted funds Total £ £ £ 198,600 0 198,600 198,600 0 198,600 |
16. RELATED PARTY TRANSACTIONS
No Trustees were paid any remuneration and benefit during the accounting period ending 31.03.2024
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