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COMPANY REGISTRATION NUMBER: CE019545 CHARITY REGISTRATION NUMBER: 1186283
Dipak Dristi Company Limited by Guarantee Unaudited Financial Statements 31 December 2022
STERLING FINANCE [UK] LIMITED
Chartered accountants Westbourne House 159 Oldham Road Ashton Under Lyne Lancashire United Kingdom OL7 9AR
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Dipak Dristi Company Limited by Guarantee Financial Statements Year ended 31 December 2022
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Report to the board of trustees on the preparation of the | |
| unaudited statutory financial statements | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
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Dipak Dristi Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) Year ended 31 December 2022
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2022.
Reference and administrative details
Registered charity name Dipak Dristi Charity registration number 1186283
Company registration number CE019545
Principal office and registered Broadoak Community Centre office Broadoak Road Ashton-under-Lyne Lancashire OL6 8RS England The trustees Mrs C Mistry Mr P Lad Mrs L Mistry Accountants Sterling Finance [UK] Limited Chartered accountants Westbourne House 159 Oldham Road Ashton Under Lyne Lancashire United Kingdom OL7 9AR
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Dipak Dristi Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) Year ended 31 December 2022
Structure, governance and management
Structure, Governance, and management
Governing Document
The organisation is a Charitable Incorporated Organisation, incorporated on 12 November 2019. The governing document is its Memorandum and Articles of Association.
Trustees
The three trustees listed on page 1 are elected annually by the members of the charity at their Annual General Meeting
Organisational Structure
The day-to-day management of the charity lies in the hands of the three trustees referred to above who meet on a regular basis to carry-out requisite managerial tasks.
Risk management
The trustees have conducted a review of the major risks to which the charity is exposed and have taken appropriate steps to mitigate those risks.
Governing Document
The organisation is a Charitable Incorporated Organisation incorporated on 12 November 2019. Trustees
The three trustees listed on page 1
Organisational structure
The day to-day management of the charity lies in the hands of the three-trustee referred to above who meet on a regular basis to carry-out the requisite managerial tasks.
Risk Management
The trustees have conducted a review of the major risks to which the charity is exposed and have taken appropriate steps to mitigate those risks. The Covid-19 posed real challenges and the organisation has adopted to new technologies and now some classes and meetings are run online.
Objectives and activities
Objectives
Dipak Dristi's objective of the group is to reduce social isolation, loneliness and improve the quality of life on people aged 55+ living in Tameside.
Activities
Throughout the year, generally every Monday, Thursday & Friday we provide art & craft mind stimulating activities, fitness sessions, ESOL classes, holistic therapy sessions, arranging talks on various health topics and outings. The sessions were conducted either by the activity facilitator, external guests, or volunteers. These were all well attended and those attended derived great benefit from their attendance.
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Dipak Dristi Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) Year ended 31 December 2022
Achievements and performance
The charity conducts the following activities for the benefit of elderly person in Tameside area who are experiencing long term social isolation and a physical, mental and emotional health related issues by the provision of a drop-in-facility and related services.
Counselling Physical exercise such as walking, yoga, meditation etc Arts and craft classes Environmental activities connecting with nature Cooking activities Training in digital technologies
Financial review
Financial Review
The trustees have seen the stability of revenue during the year including fund raising events. The cost of the running the organisation is now stable. During the Covid-19 affected period, the revenue had reduced but due to the past financial strength and grants/ funding applied during that financial period, the organisation is very stable. Plans for future periods
Plans for future periods
Plans for future periods
The trustees plan to carry out more fund-raising activities and increase the number of days for our members in future, subject to the funds being available.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 29 September 2023 and signed on behalf of the board of trustees by:
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Dipak Dristi Company Limited by Guarantee Report to the Board of Trustees on the Preparation of the Unaudited Statutory Financial Statements of Dipak Dristi Year ended 31 December 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dipak Dristi for the year ended 31 December 2022, which comprise the statement of financial activities (including income and expenditure account), statement of financial position and the related notes from the charity'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
www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made solely to the board of trustees of Dipak Dristi, as a body, in accordance with the terms of our engagement letter dated 31 July 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Dipak Dristi and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dipak Dristi and its board of trustees, as a body, for our work or for this report.
It is your duty to ensure that Dipak Dristi has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Dipak Dristi. You consider that Dipak Dristi is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Dipak Dristi. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
__________ STERLING FINANCE [UK] LIMITED Chartered accountants
Westbourne House 159 Oldham Road Ashton Under Lyne Lancashire United Kingdom OL7 9AR
29 September 2023
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Dipak Dristi Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 December 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 2,939 | 12,404 | 15,343 | 3,202 |
| Charitable activities | 6 | 10,431 | – | 10,430 | 6,670 |
| ---------------------------- | ---------------------------- | ---------------------------- | ----------------------- | ||
| Total income | 13,370 | 12,404 | 25,773 | 9,872 | |
| ============================ | ============================ | ============================ | ======================= | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of raising donations and | |||||
| legacies | 7 | – | – | – | 710 |
| Expenditure on charitable activities | 8,9 | – | 14,404 | 14,404 | 11,546 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total expenditure | – | 14,404 | 14,404 | 12,256 | |
| ============================ | ============================ | ============================ | ============================ | ||
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| Net income/(expenditure) and net | |||||
| movement in funds | 13,370 | (2,000) | 11,369 | (2,384) | |
| ============================ | ============================ | ============================ | ============================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 20,957 | 4,021 | 24,978 | 27,362 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total funds carried forward | 34,327 | 2,021 | 36,348 | 24,978 | |
| ============================ | ============================ | ============================ | ============================ |
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 7 to 12 form part of these financial statements.
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Dipak Dristi Company Limited by Guarantee Statement of Financial Position 31 December 2022
| 2022 | 2021 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Cash at bank and in hand | 36,347 | 24,978 | |
| ---------------------------- | ---------------------------- | ||
| Net current assets | 36,347 | 24,978 | |
| ---------------------------- | ---------------------------- | ||
| Total assets less current liabilities | 36,347 | 24,978 | |
| ============================ | ============================ | ||
| Funds of the charity | |||
| Restricted funds | 2,021 | 5,513 | |
| Unrestricted funds | 34,327 | 19,465 | |
| ---------------------------- | ---------------------------- | ||
| Total charity funds | 12 | 36,348 | 24,978 |
| ============================ | ============================ |
For the year ending 31 December 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 29 September 2023, and are signed on behalf of the board by:
Mrs C Mistry Trustee
The notes on pages 7 to 12 form part of these financial statements.
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Dipak Dristi Company Limited by Guarantee Notes to the Financial Statements Year ended 31 December 2022
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Broadoak Community Centre, Broadoak Road, Ashton-under-Lyne, Lancashire, OL6 8RS, England.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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 (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
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.
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.
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.
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Dipak Dristi Company Limited by Guarantee Notes to the Financial Statements Year ended 31 December 2022
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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.
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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.
4. Limited by guarantee
If the CIO is wound up, the members of the CIO have no liability to contribute its assets and no personal responsibility for settling its debts and liabilities.
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Dipak Dristi Company Limited by Guarantee Notes to the Financial Statements Year ended 31 December 2022
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations type 1 | 2,600 | – | 2,600 | ||
| Grants | |||||
| Grants | – | 12,404 | 12,404 | ||
| Subscriptions | |||||
| Subscriptions type 1 | 339 | – | 339 | ||
| ----------------------- | ---------------------------- | ---------------------------- | |||
| 2,939 | 12,404 | 15,343 | |||
| ======================= | ============================ | ============================ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations type 1 | 602 | – | 602 | ||
| Grants | |||||
| Grants | 2,600 | – | 2,600 | ||
| Subscriptions | |||||
| Subscriptions type 1 | – | – | – | ||
| ----------------------- | -------------- | ----------------------- | |||
| 3,202 | – | 3,202 | |||
| ======================= | ============== | ======================= | |||
| 6. | Charitable activities | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Collection from charitable activities | 10,431 | – | 10,430 | ||
| ============================ | ============== | ============================ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Collection from charitable activities | 5,179 | 1,491 | 6,670 | ||
| ======================= | ======================= | ======================= | |||
| 7. | Costs of raising donations and legacies | ||||
| Restricted | Total Funds | Restricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Costs of raising donations and | |||||
| legacies - Donations | – | – | 517 | 517 | |
| Costs of raising donations and | |||||
| legacies - Subscriptions | – | – | 193 | 193 | |
| -------------- | -------------- | -------------- | -------------- | ||
| – | – | 710 | 710 | ||
| ============== | ============== | ============== | ============== |
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Dipak Dristi Company Limited by Guarantee Notes to the Financial Statements Year ended 31 December 2022
8. Expenditure on charitable activities by fund type
| Restricted | Total Funds | Restricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Activity type 1 | 13,434 | 13,434 | 11,337 | 11,337 |
| Support costs | 970 | 970 | 209 | 209 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 14,404 | 14,404 | 11,546 | 11,546 | |
| ============================ | ============================ | ============================ | ============================ |
9. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Activity type 1 | 13,434 | – | 13,434 | 11,337 |
| Governance costs | – | 970 | 970 | 209 |
| ---------------------------- | -------------- | ---------------------------- | ---------------------------- | |
| 13,434 | 970 | 14,404 | 11,546 | |
| ============================ | ============== | ============================ | ============================ |
10. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| The average head count of employees during the year was Nil (2021: 12). The average | number | |
| of full-time equivalent employees during the year is analysed as follows: | ||
| 2022 | 2021 | |
| No. | No. | |
| Number of staff - type 1 | 12 | – |
| ============== | ============== |
The average head count of employees during the year was Nil (2021: 12). The average number of full-time equivalent employees during the year is analysed as follows:
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
11. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustee.
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Dipak Dristi Company Limited by Guarantee Notes to the Financial Statements Year ended 31 December 2022
12. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At | At | |||||
| 1 | January | 20 | 31 Decembe | |||
| 22 | Income | Expenditure | Transfers | r 2022 | ||
| £ | £ | £ | £ | £ | ||
| General funds | 20,957 | 13,370 | – | – | 34,327 | |
| Designated Fund 1 - | ||||||
| desc in a/cs | – | – | – | – | – | |
| ---------------------------- | ---------------------------- | -------------- | -------------- | ---------------------------- | ||
| 20,957 | 13,370 | – | – | 34,327 | ||
| ============================ | ============================ | ============== | ============== | ============================ | ||
| At | At | |||||
| 1 | January | 20 | 31 December | |||
| 21 | Income | Expenditure | Transfers | 2021 | ||
| £ | £ | £ | £ | £ | ||
| General funds | 11,084 | 8,381 | – | (12,257) | 7,208 |
|
| Designated Fund 1 - | ||||||
| desc in a/cs | – | – | – | 12,257 | 12,257 | |
| ---------------------------- | ----------------------- | -------------- | ---------------------------- | ---------------------------- | ||
| 11,084 | 8,381 | – | – | 19,465 | ||
| ============================ | ======================= | ============== | ============================ | ============================ | ||
| Restricted funds | ||||||
| At | At | |||||
| 1 | January | 20 | 31 Decembe | |||
| 22 | Income | Expenditure | Transfers | r 2022 | ||
| £ | £ | £ | £ | £ | ||
| Restricted Fund 1 - desc | ||||||
| in a/cs | 4,021 | 12,404 | (14,404) | – | 2,021 | |
| ======================= | ============================ | ============================ | ============== | ======================= | ||
| At | At | |||||
| 1 | January | 20 | 31 December | |||
| 21 | Income | Expenditure | Transfers | 2021 | ||
| £ | £ | £ | £ | £ | ||
| Restricted Fund 1 - desc | ||||||
| in a/cs | 16,278 | 1,491 | (12,256) | – | 5,513 | |
| ============================ | ======================= | ============================ | ============== | ======================= | ||
| Analysis of net assets between funds | ||||||
| Unrestricted | Total Funds | |||||
| Funds | 2022 | |||||
| £ | £ | |||||
| Current assets | (20,957) | (20,957) |
||||
| ============================ | ============================ | |||||
| Unrestricted | Total Funds | |||||
| Funds | 2021 | |||||
| £ | £ | |||||
| Current assets | 24,979 | 24,979 | ||||
| Creditors less than 1 year | – | – | ||||
| ---------------------------- | ---------------------------- | |||||
| Net assets | 24,979 | 24,979 | ||||
| ============================ | ============================ |
13. Analysis of net assets between funds
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Dipak Dristi Company Limited by Guarantee Notes to the Financial Statements Year ended 31 December 2022
14. Financial instruments
For financial instruments measured at fair value, the basis for determining fair value must be disclosed. When a valuation technique is used, the assumptions applied in determining fair value for each class of financial assets or financial liabilities must be disclosed. If a reliable measure of fair value is no longer available for ordinary or preference shares measured at fair value through profit or loss, this must also be disclosed. Where reduced disclosures are applied, disclosures from the Companies Act 2006 still need to be made regarding the fair value of the instruments in each category and the changes in value recognised in profit and loss. Disclosures of the significant assumptions underlying the valuation models and techniques used, and extent and nature of derivative instruments are also required.
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