The Charity Registration Number is : 1183696
Bridge India
Report and Accounts
31 July 2021
Bridge India
Report and accounts for the year ended 31 July 2021
Contents
| Page | ||
|---|---|---|
| Charity information | 1 | |
| Trustees' Annual Report | 1 | |
| Accountants' report | 6 | |
| Funds Statements:- | ||
| Statement of Financial Activities | 7 | |
| Balance sheet | 11 | |
| Cash flow statement | 12 | |
| Notes to the accounts | 15 |
Bridge India
Trustees' Annual Report for the year ended 31 July 2021
The Trustees present their Report and Accounts for the year ended 31 July 2021.
Reference and administrative details
The charity name.
The legal name of the charity is: Bridge India.
The charity is also known by its operating name, Bridge India.
The charity's areas operation and UK charitable registration.
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1183696.
Legal structure of the charity
The charity is constituted as a Charitable Incorporated Organisation (CIO) in England & Wales. The governing document of the charity is the constitution of the CIO as approved by the Charity Commission in England & Wales (CCEW) .
The governing document is dated 03 June 2019
There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
The trustees are all individuals.
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Bridge India
Trustees' Annual Report for the year ended 31 July 2021
The principal operating address, telephone number, email and web addresses of
c/o EPG, TOG, 2 Stephen Street Fitzrovia, London Enter in step 4. 4, W1T 1AN Telephone 02079936851 Email Address contact@bridgeindia.org.uk Web address www.brindgeindia.org.uk
The Trustees in office on the date the report was approved were:-
Supriyo Chaudhuri Raqib Islam Ashwin Kumaraswamy
The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.
All the trustees are also members of the charity.
Objects and activities of the charity
The purposes of the charity as set out in its governing document.
To advance the education of the public in all matters relating to India, including but not limited to cultural, social, socio-economic, political and other issues including public policy, in particular but not exclusively through conferences, facilitating debate, conducting and publishing objective research and seminars.
The main activities undertaken in relation to those purposes during the year.
During the period under review, Bridge India continued to rise in prominence amongst the diaspora Indian community and extended awareness to other, particular business, communities in the UK. However, the Covid-19 pandemic curtailed all in-person member engagement activity, which had enabled Bridge India to grow quickly the year before.
Instead, Bridge India organised public webinars as well as closed-door online meetings just for Members on a regular basis, typically twice a month. Through these sessions, the organisation engaged with CEOs, Ministers and other policy leaders from the UK, India, Mauritius, Israel, Afghanistan, Bangladesh and elsewhere. Across the year, we had over 3,000 attendees at our webinars.
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Bridge India
Trustees' Annual Report for the year ended 31 July 2021
The main activities undertaken during the year to further the charity's purpose for the public benefit.
In shaping our objectives, the trustees have considered the Charity Commission’s guidance on public benefit. The objectives of the charity are to advance the education of the public in all matters relating to India, including but not limited to cultural, social, socio-economic, political and other issues including public policy, in particular but not exclusively through conferences, facilitating debate, conducting and publishing objective research, and seminars.
Bridge India is a unique charity in this respect, as a think tank of this kind does not currently operate in England & Wales. Our member newsletters were our primary avenue for engaging with members on a regular basis, and we held a successful Covid-19 fundraising drive for the Second Wave in India. We supported grassroots projects overseen by members in Patna, Muzaffarpur, Bangalore, Sareikela Kharsawa district (Jharkhand), Harda district (Madhya Pradesh), to ensure monies were distributed to the most needy and without additional administrative overheads.
The main achievements and performance of the charity during the year.
The pandemic was a challenge to our business model, which relied on in-person networking, mentoring and in-person conversations often in a private, Chatham House rule setting. Our regular webinars occurred with more frequency, and provide a wider digest of content, than any comparable organisation in the UK including the High Commission of India. In addition, we were due to host our first flagship Ideas for India conference in April 2020, including several CEO and policy maker guests from India. This could not happen due to the pandemic, but over the last year we continued to engage the attendees from there, and growing our network.
Throughout the year, we received interest from other countries, namely the Netherlands and the US, for setting up chapters of Bridge India there. Discussions are ongoing and the aim is revisit post-pandemic.
Fundraising activities during the year.
We did not fundraise for Bridge India during the year in a manner which we had done the year before, since the pandemic was a challenge to our member-funded business model.
However, we fundraised for the Second Wave of the Covid-19 pandemic in India, which saw broad engagement from across our members. Bridge India has been helping hard-to-reach communities nationwide, including projects in Patna, Muzaffarpur, Bangalore, Sareikela Kharsawa district (Jharkhand), Harda district (Madhya Pradesh). In doing so, Bridge India worked with some inspirational people supporting at-risk and in-need people across the country, including the Women’s India Association UK, US Alhambra Chamber, Paras Healthcare, Rahman Foundation, Samvedna Foundation, Agratha Kreeda Foundation, Yuvaratha, Punjab National Bank, Samruddha Bharat Foundation, Adivasee Kalyan Samitee and others. Bridge India’s food distribution in Muzaffarpur in Bihar served over 1,000 meals a day to quarantined Covid+ patients. It is one of the country's 250 most backward districts, and is one of the 36 districts in Bihar receiving funds from the Backward Regions Grant Fund Programme.
Structure, governance and management of the charity
The methods used to recruit and appoint new charity trustees.
The trustees are appointed on a voluntary basis as and deemed fit by the existing trustess.
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Bridge India
Trustees' Annual Report for the year ended 31 July 2021
Bankers
CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ
Accountants
T KUMAR. White Lodge, Julian Close, Cholworth, Southampton, SO16 7HR
Financial review
The charity's financial position at the end of the year ended 31 July 2021
The financial position of the charity at 31 July 2021 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
| Total Funds Net income Unrestricted Revenue Funds available for the general purposes of the charity |
2021 £ 5,800 7,168 7,168 |
2020 £ 684 683 683 |
|---|---|---|
Financial review of the position at the reporting date, 31 July 2021 .
The trustees consider the financial performance by the charity during the year to have been satisfactory considering it is the first year of its existence and considering the effect the pandemic has had.
Policies on reserves.
The trustees have decided that there is no immediate need to hold a reserve.
Going Concern
The trustees having reviewed the financial position of the charity and have decided to prepare the accounts under the going concern basis as the charity is able to meet its obligations as and when they fall due.
Details of The Independent Examiner
Mr T KUMAR, BCom, ACA(I), FCCA Member of Association of Chartered Certified Accountants White Lodge Julian Close Southampton Hampshire SO16 7HR
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Bridge India
Trustees' Annual Report for the year ended 31 July 2021
Statement of Trustees' Responsibilities
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .
In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to :-
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to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
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select suitable accounting policies and apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
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state whether applicable accounting standards and statements of
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recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts 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 of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
This report was approved by the board of trustees on 30 May 2022.
Ashwin Kumaraswamy
Trustee
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Bridge India
Report to the directors on the preparation of the unaudited statutory accounts of Bridge India for the year ended 31 July 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bridge India for the year ended 31 July 2021 which comprise of Statement of Financial Activities for the period ended 31 July 2021 from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
Mr T KUMAR, BCom, ACA(I), FCCA
Association of Chartered Certified Accountants White Lodge Julian Close Southampton Hampshire SO16 7HR
30 May 2022
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Bridge India - Statement of Financial Activities for the year ended 31 July 2021
Statement of Financial Activities for the year ended 31 July 2021
| Current year Unrestricted Funds 2021 £ Income & Endowments from: Donations & Legacies A1 17,043 Expenditure on: Raising funds B1 - Charitable activities B2 11,243 Total expenditure B 11,243 Net income for the year 5,800 Net income after transfers A-B 5,800 5,800 Reconciliation of funds:- Total funds carried forward 6,483 Net movement in funds SORP Ref |
Current year Restricted Funds 2021 £ - - - - - - - - |
Current year Total Funds 2021 £ 17,043 - 11,243 11,243 5,800 5,800 5,800 6,483 |
Prior Year Total Funds 2020 £ 16,564 12,294 3,586 15,880 684 684 684 684 |
|---|---|---|---|
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.
All the prior year transactions were unrestricted items, and no further analysis is required
All activities derive from continuing operations
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Bridge India - Statement of Financial Activities for the year ended 31 July 2021
The notes attached on pages 12 to 21 form an integral part of these accounts.
Bridge India - Resources applied in the year ended 31 July 2021 towards fixed assets for Charity use:-
| Funds generated in the year as detailed in the SOFA Net resources available to fund charitable activities |
2021 £ 5,800 5,800 |
2020 £ 684 684 |
|---|---|---|
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Bridge India - Statement of Financial Activities for the year ended 31 July 2021
The notes attached on pages 12 to 21 form an integral part of these accounts.
Movements in revenue and capital funds for the year ended 31 July 2021
Revenue accumulated funds
| Unrestricted Funds 2021 £ 5,800 6,483 Closing revenue funds 6,483 Summary of funds Unrestricted and Designated funds 2021 £ Revenue accumulated funds 6,483 Recognised gains and losses before transfers |
Restricted Funds 2021 £ - - - Restricted Funds 2021 £ - |
Total Funds 2021 £ 5,800 6,483 6,483 Total Funds 2021 £ 6,483 |
Last year Total Funds 2020 £ 684 684 684 Last Year Total Funds 2020 £ 684 |
|---|---|---|---|
9
Bridge India - Statement of Financial Activities for the year ended 31 July 2021
The notes attached on pages 12 to 21 form an integral part of these accounts.
Bridge India
Income and Expenditure Account for the year ended 31 July 2021 as required by the Companies Act 2006
| Income Income from operations Gross income in the year before exceptional items Gross income in the year including exceptional items Expenditure Charitable expenditure, excluding depreciation and amortisation Fundraising costs Realised losses on disposals of social investments which are programme related Total expenditure in the year Tax on surplus on ordinary activities Retained surplus for the financial year Net income after tax in the financial year Net income before tax in the financial year Investment income |
2021 £ 17,043 17,043 17,043 11,243 - - 11,243 5,800 - 5,800 5,800 |
2020 £ 16,564 16,564 16,564 3,586 12,294 - 15,880 684 - 684 684 |
|---|---|---|
All activities derive from continuing operations
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Bridge India - Balance Sheet as at 31 July 2021
| Note SORP Ref Current assets B Cash at bank and in hand B4 Creditors: amounts falling due within one year 4 C1 Net current assets The total net assets of the charity Restricted funds Unrestricted Funds Unrestricted Revenue Funds 7 D3 Designated Funds Total charity funds The total net assets of the charity are funded by the |
2021 2020 £ £ 4,816 1,183 (550) (500) 6,483 683 6,483 683 - - 6,483 - 6,483 - 6,483 683 funds of the charity, as follows:- |
|---|---|
The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..
The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.
The Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
Ashwin Kumaraswamy
Trustee
Approved by the board of trustees on 30 May 2022
The notes attached on pages 12 to 21 form an integral part of these accounts.
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Bridge India
Cash Flow Statement for the year ended 31 July 2021
| Cash flows from operating activities A Cash flows from financing activities Net cash provided by operating activities as shown below |
2021 £ 4,083 |
2020 £ 684 |
|---|---|---|
| Net cash provided by financing activities C Overall cash provided by all activities Cash movements Change in cash and cash equivalents from activities in the year ended 31 July 2021 Cash and cash equivalents at 1 August 2020 Change in cash and cash equivalents due to exchange rate movements A+B+C Cash at bank and in hand less overdrafts at 31 July |
- 4,083 3,635 1,183 - 4,818 |
- 684 684 - - 684 |
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Bridge India
Cash Flow Statement for the year ended 31 July 2021
Reconciliation of net income to net cash flow from operating activities
| Net income as shown in the Statement of Financial Activities Adjustments for :- Write downs of investments Net unrealised losses on investment assets Increase in creditors, excluding loans Net cash provided by operating activities A Analysis of cash and cash equivalents Cash in hand at for the year ended 31 July 2021 Notice deposits - (less than 3 months) Total cash and cash equivalents |
5,800 - - 500 4,083 2021 £ 4,818 - 4,818 |
684 - - - 684 2020 £ 1,183 - 1,183 |
|---|---|---|
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Bridge India
Cash Flow Statement for the year ended 31 July 2021
Analysis of change in net debt
| Cash Total |
At start of year 1,183 1,183 |
Cash Flows and 3,633 3,633 |
At end of year 4,816 - 4,816 |
|---|---|---|---|
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Bridge India
Notes to the Accounts for the year ended 31 July 2021
1 Accounting policies
Policies relating to the production of the accounts.
Basis of preparation and accounting convention
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
Going Concern
The charitable activities are entirely dependent on continuing donations as well as event participation revenues. As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the Trustees have obtained forecasts and, after reviewing the financial forecasts for future periods to 31 July 2021, the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern.
Risks and future assumptions
The charity is a public benefit entity.
Membership subscriptions
The income and any associated Gift Aid or other tax refund from a membership subscription received by the charity in the nature of a gift, is accounted for on the same basis as a donation.
The income from a membership subscription received by the charity where the subscription purchases the right to services or benefits is recognised as income from charitable activities.
Allocating costs to activities
Direct costs that are specifically related to an activity are allocated to that activity. Shared direct costs and support costs are apportioned between activities.
The basis for apportionment, which is consistently applied, and proportionate to the circumstances, is :-
Staffing - on the basis of time spent in connection with any particular activity.
Premises related costs - on the proportion of floor area occupied by a particular activity.
Non specific support costs - on the basis of the usage of resources, in terms of time taken, capacity used, request made or other measures
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Bridge India
Notes to the Accounts for the year ended 31 July 2021
Volunteers
In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
There are no endowment funds.
2 Liability to taxation
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose.
3 Remuneration and payments to Trustees and persons connected with them
No trustees or persons connected with them received any remuneration from the charity, or any related entity.
| 4 Creditors: amounts falling due within one year Accruals 5 Income and Expenditure account summary At 1 August 2020 Surplus after tax for the year At 31 July 2021 |
2021 £ 550 2021 £ 684 5,800 6,484 |
2020 £ 500 2020 £ - 684 684 |
|---|---|---|
6 Particulars of how particular funds are represented by assets and liabilities
| At 31 July 2021 Current Assets Current Liabilities |
Unrestricted funds £ 7,033 (550) 6,483 |
Designated funds £ - - |
Restricted funds £ - - - |
Total Funds £ 7,033 (550) 6,483 |
|---|---|---|---|---|
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Bridge India
Notes to the Accounts for the year ended 31 July 2021
| At 1 August 2020 Investments at valuation:- Fixed asset investments Programme related investments Current Assets Current Liabilities Long Term Liabilities Pension Asset/Liability Provisions for liabilities and charges |
Unrestricted funds £ - - 1,183 (500) - - - 683 |
Designated funds £ - - - - - - - - |
Restricted funds £ - - - - - - - |
Total Funds £ - - 1,183 (500) - - - 683 |
|---|---|---|---|---|
7 Change in total funds over the year as shown in Note 6 , analysed by individual funds
| Unrestricted and designated funds:- Unrestricted Revenue Funds Total unrestricted and designated funds Total charity funds |
Funds brought forward from 2020 £ 683 683 683 |
Movement in funds in 2021 See Note 8 £ 5,800 5,800 5,800 |
See Note 0 £ - - - Transfers between funds in 2021 |
Funds carried forward to 2022 £ 6,483 6,483 6,483 |
|---|---|---|---|---|
8 Analysis of movements in funds over the year as shown in Note 7
| Unrestricted and designated funds:- Unrestricted Revenue Funds |
Income 2021 £ 17,043 17,043 |
Expenditure 2021 £ (11,243) (11,243) |
Other Gains & Losses 2021 £ - - |
Movement in funds 2021 £ 5,800 5,800 |
|---|---|---|---|---|
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Bridge India
Notes to the Accounts for the year ended 31 July 2021
9 The purposes for which the funds
Unrestricted and designated funds:- Unrestricted Revenue Funds None Unrestricted Revaluation Reserve None Designated Revenue Funds None Designated Fixed Asset Funds Restricted funds:- None Restricted Fixed Asset Funds None Restricted Revaluation Reserve -
These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on their use.
10 Ultimate controlling party
The charity is under the control of its legal members.
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Bridge India
Detailed analysis of income and expenditure for the year ended 31 July 2021 as required by the SORP 2015
This analysis is classsified by conventional nominal descriptions and not by activity.
11 Donations, Grants and Legacies
----- Start of picture text -----
Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds Total Funds
Funds Funds
2021 2021 2021 2020
£ £ £ £
Sponsorship - 5,550
Total sponsorship income 2,000 - 2,000 5,550
Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds Total Funds
Funds Funds
2021 2021 2021 2020
£ £ £ £
Membership subscriptions as 250 - 250 3,297
donations
Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds Total Funds
Funds Funds
2021 2021 2021 2020
£ £ £ £
Event ticket sales -
7,717
Total Event ticket sales 170 - 170 7,717
Total Donations, Grants and Legacies
Total Donations, Grants and A1 17,043 - 17,043 16,564
Legacies
12 Support costs for charitable activities
Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds Total Funds
Current Year Funds Funds
2021 2021 2021 2020
£ £ £ £
----- End of picture text -----
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Bridge India
Detailed analysis of income and expenditure for the year ended 31 July 2021 as required by the SORP 2015
| Employee costs not included in direct costs 600 - Volunteer costs 17 - Administrative overheads - - - - Professional fees paid to advisors other than the auditor or examiner 550 - Financial costs 108 - Support costs before reallocation 2,180 - Total support costs - Current Year 2,180 - The basis of allocation of costs between activities is described under accounting policies 13 Total Charitable expenditure Current year Current year Current Year Unrestricted Funds Restricted Funds 2021 2021 £ £ Total support costs B2d 2,180 - Total charitable expenditure B2 11,243 - Travel and subsistence - volunteers Membership subscriptions Cost of salaries recharged to other organisations Stationery and printing Bank charges Accountancy fees other than examination or audit fees |
600 17 - - 550 108 2,180 2,180 Current year Total Funds 2021 £ 2,180 11,243 |
2,640 136 99 - 500 55 3,586 3,586 - - Prior Year Total Funds 2020 £ 3,586 3,586 |
|---|---|---|
All the expenditure in the prior year was unrestricted.
14 Expenditure on raising funds and costs of investment management
| Current Year Costs of staging fundraising events Total fundraising costs B1 |
Current year Unrestricted Funds 2021 £ - - |
Current year Restricted Funds 2021 £ - - |
Current year Prior Year Total Funds Total Funds 2021 2020 £ £ - 12,294 - 12,294 |
|---|---|---|---|
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