**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
- 1 -
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 activitS of the charity. If required, trarning is given lo new directors lo 8nsure Ih8y
are comalnt and able to lulfil Iheir Tdos.
None of the Iwstees has any beneficial Inte5t 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
- 3 -
## **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.
- 4 -
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 ntsned In 8edion 477 of the Cornpan8
A¢t 2(N)6. for the y8ar ended 30 April 2021.
The dlreclors 8cknowl8dgè thèir responsibileS for comptying with the requirom8nts of the Companies Act 2006
th re8P8Ct lo accounting records and the prgparalion of financial slal8m8nts.
The Tll8mbers have quId the company to cthin w aLvJit of Ils finarrial stal8m8nts for the year In
question in accordance with section 476.
Tha$8 linana81 statements h8v8 been w8par•d accLYdanc8 with Ihg provisions applicabb to compani08
sutyect to tho small companles r89lm8.
The flnanclal ststsm8nts werè approv•d by th8 Tn199$ 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.
- 6 -
## **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.
- 7 -
## **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|
- 8 -
## **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.
- 9 -