2021-04-30-accounts

Charity Registration No. 1187844

Company Registration No. 11971266 (England and Wales)

CHARUSAT EDUCATIONAL AND HEALTHCARE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2021

CHARUSAT EDUCATIONAL AND HEALTHCARE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	Mr Kiritkumar Rambhai Patel
	Mr Kamlesh Govindbhai Patel
Charity number	1187844
Company number	11971266
Registered office	Amba House, 3rd Floor
	15 College Road
	Harrow
	Middlesex
	HA1 1BA
Independent examiner	KLSA LLP
	Kalamu House
	11 Coldbath Square
	London
	EC1R 5HL
Bankers	Bank of Baroda
	Baroda House
	32 City Road
	London
	EC1Y 2BD

CHARUSAT EDUCATIONAL AND HEALTHCARE TRUST

CONTENTS

	Page
Trustees' report	1 - 2
Independent examiner's report	3
Statement of financial activities	4
Balance sheet	5
Notes to the financial statements	6 - 9

CHARUSAT EDUCATIONAL AND HEALTHCARE TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 APRIL 2021

The trustees present their annual report and financial statements for the year ended 30 April 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association , the Companies Act 2006 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 (FRS 102) (effective 1 January 2019)".

Objectives and activities

The charity's objects are restricted specifically, in each case, only for the following:

• The advancement of education of the public, and in particular (but not exclusively) students at the Charotar University and Health Centre, India, on the importance of healthcare, sanitation and treatment of health conditions by :

• i) providing distance learning courses, seminars, lectures and workshops. ii) facilitating the transfer of knowledge by providing opportunities for student sabbaticals and

• exchanges. iii) raising funds to help build infrastructure for learning.

• The relief of sickness and the preservation of health in India by: i) advancing the education of medical students and professionals. ii) raising funds to help build infrastructure for the development of healthcare facilities

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

During the year, the charity received general donations of £1,801 (2020: £50,119).

The charity donated a total of £50,058 for educational charitable activities during the year. The trustees wish to express their gratitude for the donations received.

Financial review

The financial controls of the trust are managed and controlled by the trustees without any remuneration.

It is the policy of the trustees at all times to maintain sufficient reserves in cash or cash funds to meet all future commitments in full. The trustees monitor the level of reserves at periodic intervals. All funds held are unrestricted.

The 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.

Structure, governance and management

The company was incorporated by guarantee on 30 April 2019. It has no share capital and is a registered charity. The guarantee of each member is limited to £1. The governing document is the Memorandum and Articles of Association of the company.

The trustees, who are also the directors for the purpose of company law, and who served during the period and up to the date of signature of the financial statements were: Mr Kiritkumar Rambhai Patel

Mr Kamlesh Govindbhai Patel

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CHARUSAT EDUCATIONAL AND HEALTHCARE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2021 Wherg il is desirous to appoinl new directoTr any such appoinlment must be ralified by the exisllro dlrèctors at a duly constitut9d board meeting. Any such new directo￿ are initially selected having re98r(I lo Iheir pgrsonal and professional expertise in the activit￿S of the charity. If required, trarning is given lo new directors lo 8nsure Ih8y are com￿alnt and able to lulfil Iheir Tdos. None of the Iwstees has any beneficial Inte￿5t in the company. Ml of the trustees arg members of the company and guaranteo lo coniributs £1 in th8 8Vgnt of a windwvJ up. All declsion making is urKlertaken by members of the Board. The charity has no staff and there 18. thgrefore. no requirement to (Jelegale decision rnaking further. The trustse$' r9PQrt Was appn)v8d by th8 Board of Trust￿. Mr Kirrtkumar Rambhai Patel TruitO6 27 J8nu8ry 2022

CHARUSAT EDUCATIONAL AND HEALTHCARE TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF CHARUSAT EDUCATIONAL AND HEALTHCARE TRUST

I report to the trustees on my examination of the financial statements of Charusat Educational and Healthcare Trust (the charity) for the year ended 30 April 2021.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

• 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

• 2 the financial statements do not accord with those records; or

• 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

• 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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 financial statements to be reached.

Harsheel Dodhia FCCA KLSA LLP Kalamu House 11 Coldbath Square London EC1R 5HL

Dated: 27 January 2022

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CHARUSAT EDUCATIONAL AND HEALTHCARE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 APRIL 2021

		Unrestricted Unrestricted	Unrestricted Unrestricted
		funds	funds
		2021	2020
	Notes	£	£
Income from:
Donations and legacies	3	1,801	50,119
Investments	4	37	21
Total income		1,838	50,140
Expenditure on:
Charitable activities	5	50,464	16
Net (expenditure)/income for the year/
Net movement in funds		(48,626)	50,124
Fund balances at 1 May 2020		50,124	-
Fund balances at 30 April 2021		1,498	50,124

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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CHARUSAT EDUCATIONAL AND HEALTHCARE TRUST BALANCE SHEEr AS A T 30 APRIL 2021 2021 2020 Curr8nt a$$ets Cash al bank and in hand 1.498 50.124 Net currènt a&8ets 1,498 50,124 Incom• lund8 Unrostricted funds 1.498 50.124 1,498 50.124 The company is enlilled lo the exemption from the audit requirement ￿nts￿ned In 8edion 477 of the Cornpan￿8 A¢t 2(N)6. for the y8ar ended 30 April 2021. The dlreclors 8cknowl8dgè thèir responsibil￿eS for comptying with the requirom8nts of the Companies Act 2006 th re8P8Ct lo accounting records and the prgparalion of financial slal8m8nts. The Tll8mbers have ￿ ￿quI￿d the company to cthin w aLvJit of Ils finarrial stal8m8nts for the year In question in accordance with section 476. Tha$8 linana81 statements h8v8 been w8par•d ￿ accLYdanc8 with Ihg provisions applicabb to compani08 sutyect to tho small companles r89lm8. The flnanclal ststsm8nts werè approv•d by th8 Tn￿199$ on 27 January 2022 Mr Kiritkumar Rambhai Patel TruBt Company R•gbtratlon Mo. 11971266

CHARUSAT EDUCATIONAL AND HEALTHCARE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021

1 Accounting policies

Charity information

Charusat Educational and Healthcare Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Amba House, 3rd Floor, 15 College Road, Harrow, Middlesex, HA1 1BA.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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CHARUSAT EDUCATIONAL AND HEALTHCARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2021

1 Accounting policies

(Continued)

1.5 Expenditure

All expenses are accounted for on a paid basis. Direct charitable expenditure includes general overhead cost.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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CHARUSAT EDUCATIONAL AND HEALTHCARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2021

3 Donations and legacies

							Unrestricted	Unrestricted	Unrestricted
								funds	funds
								2021	2020
								£	£
	Donations and gifts							1,801	50,119
4	Investments
							Unrestricted		Unrestricted
								funds	funds
								2021	2020
								£	£
	Interest receivable							37	21
5	Charitable activities
					Educational		Charitable	Total	Charitable
					Charitable		Expenditure	2021	Expenditure
					Expenditure
					2021		2021		2020
					£		£	£	£
	Charitable expenditure				50,058		-	50,058	-
	Share of support costs (see	note 6)				-	406	406	16
					50,058		406	50,464	16
6	Support costs
		Support		Governance	2021		Support	Governance	2020
		costs		costs			costs	costs
			£	£	£		£	£	£
	Support costs		69	-	69		16	-	16
	Support costs heading 2	337		-	337		-	-	-
		406		-	406		16	-	16
	Analysed between
	Charitable activities	406		-	406		16	-	16

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CHARUSAT EDUCATIONAL AND HEALTHCARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2021

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

8 Employees

There were no employees during the period.

9 Related party transactions

During the year, the charity received donation of £501 (2020: £Nil) from Mr Kiritkumar Rambhai Patel and £500 (2020: £Nil) from Mr Kamlesh Govindbhai Patel who are the Trustees of the charity.

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