&lese c BEXLEY NEPALESE COMMUNITY IA compony limited ty Guarontee and RegiTStered Charity)" Company IIYJ70054 Charity No. 1187889 ANNUAL REKIRT AND UNAUOITED FINANaAL STATEMENTS FORrTHE YEAR ENDED 31 MARCH 2024 Wlllll ••DIAOJ76* 1911212024 COMPANIES HOUSE A18
15
Bexley Nepalese Communlty BEXLEY NEPALESE COMMUNITY (A compony limited by Guorontee and Registered Charity) CONTENTS Page Reference and administrative detsils of the charity and advisers Chairnmn's message Trustee5' report 5-13 Aceountsnv report 15 ststement of flnandal athiti 16 Balano sheet 17 Notes to the financSal statsments 18-21 Pagg 2
8oxloy Nepales• Community REFERENCE AND ADMINISTrATIVE DEfAIiS OFTHE COMPANY ANDADVISERS Board ol Directors ftnlQes l. Dr Harish Jyawali- Chalrrnan 2. Kesh BahadurGurun8 3. Bijay Bahadur Gurun 4. Ananda Dharel 5. Kedar Thapaliya 6. Dipendra Sitsula 7. 8indu Maya Gurung 8. Chandrabir Gurung 9. Sanjeeb Subedi 10. Yuba Raj Neupane 11. Uma Gurung Company Registrntiw t4ufflber I70054 Charlty Reclstratlon Nymber 1187889 RelIered Office: Equitable House- 2nd Floor 7 General Gordon Square. CIO Mantsx Lynton. LondoTr. England. SE18 6FH Chalrnian Dr Harish Chandra tyawali Shibaram Gurun& Bijtta Gauram. Dipendra Sitsula. 8ala M'Prasai, Kedar Thapaliya Himal Gurung &" Ahilya Kunwar Narwpn Pant¥& Tilak Limsal Vke thalrs Secretsrfat Treasury Bimala Sedhaee, Sambhunath Adhikari. Sabita SivMkoti. Pankaj Poudel. Pradeep Tripathi. Santa Sharma. Rajendra Lamsal, Dhanraj ChonEban& Wishwaraj Paudel. Dikpal Gurun& Basu Aryal. Gurvi Acharya. Sagar Wagle. Pradip Lamsal Coordln•tor- BPK School of cultu & Larrfuw: BijTta Gautsm Bank: Barclays Bank PLC. Leicestershire, LE87 28B Mantax Lynton Chartered Accountsnts 207 Equitable House 7 General Gordon Square London. SE18 6FH P898 3
Bexley Nepalese Communlty Chalrnian's message Dear Members. Supporters. and Friends ofthe Bexley Nepalese Communty. as we reflect on 2023- 2024.1 am filled with pride and gratitude for our c0mrnunitS incredible achievements. During my tenure, we have organised ènd completed various projects. Amongst those are Nepali language and culture classes, Christma5 celebrations. Football for kids. Holi celebrations, Youth workshops, ParlTrament visits. BNC Park run and many more. In addition. we successfully organised our annual PfoEramrnes- Dashain Tihar programme, Annual gatherin& Teej, Deusi and Bhailo and Lhoschhar. Through these celebrations. we celebrate and pass on the richnes5 of Nepalese CuUre to younger generations while sharing it with the wder cornrnunity. Weekly, we run Yoga. Fitness and Zumba classes. In addition. the number of our members joining the Park Run or other running events has grown significantly. We are proud to inspire many more members to join the BNC5 health and wellbeing mo¥ement. All those programme5 helped our tommunity to remain active and healthy mentally and physically and provided an opportunity to socialise. We are proud to receNe the Mayorfs Faith in the Communities for Healthy Comrnunities and Successful Communities award in 2023. Inclusibllty remains our guidin8 principle. Our programs unite people from diverse backgroun(ts, encouraging mutual respecL understandin& and a sense of belonging. Empowerment has been at the heart of all our initiatives. In addition. we are wothn8 on a lon8-term rtrate8y to own a 'Bexley Nepalese community hall. and I hope we will achieve this in the future with your kind support. hopefully sooner. Our achievements would not have been possible without the unwavering support of our trustee5. Programme coordinators. volunteers. and 8NC members. l extend my heartfelt thanks to the Mayor, Deputy Mayor and Councillors of the London Borough of Bexley. and Local MP Mr Louie French for your 5UPPOrt. Let us remain united in our vision to empower, indude. and integrate-ensuring that our legacy as a vIbnt and compassionate community endure& With gratitude and best wishes. Dr Harish Jyawall Chairman Bexley Nepalese Community Page 4
B•xltyN•palese Communlty TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The T'rustees presenttheir annual'reporttogetherwiththe financial statements of the company for the year ended 31 March 2024. The Trustees.confirm that the Annual Report and financial Statements of the company compty with the current ststutory requirements. the requirements of the company's governing document and the prowsions of the Statement of Recommended Prattice ISORPI. applicable to charit5 preparing theiF accounts in accordance with the Financial Reportin8 Standards applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 2015) as amended by Update Bulletin I leffeCtr l January 20151. The company qualifies as small under settion 383. and therefore the strategic report required of medium and large companies underThe Companies Act 26 {Strate8ic Reportand Directorfs Report) Re8rJlations 2013 is not prepared. Structure. Governance and Management Bexley Nepalese Community 1.the Charl) 15 a charitable organisation established in 2008 and formally registered in March 2016 wtth the Company House as a company limtted byguarantee and with the Charity Commission on 11 February 2020. The charity is currently working mainty for the benefit of Nepalese community living in Southeast London. specially focused on those livin8 in London Borough of Bexley and neighbouring local autlKJrities. The major beneficiary of the activities will be ex-arnied forces personnel IGurkha'veteRnsl and their families. The Governance and Opefation of the Charity is broadly set out by the govRrning document IAOAI. Organisation structure of the charity consists of board of directors I trustees; executive committee and functional committees. The 8oard is responsible for all major policy decisions. approving strategy and objectives and meets at kast four times a year. During the year. there were no change in to board of dirertors I tntstees. The Governance and Operation of the Charity is summarssed below: Members at the general meeting appoint Dirertors ITrustees Dirertorsifrustees have ultimate reSnsIbIlity of the operation an¢fstrate8ic dirertion of the Charity in achieving the objecttves. Directorsnrustees delegate powers by setting up Executive Cofflmittee and other subcommittees to facilitate the operation5 of the Charity. Currently there is an Executive Committee and other six task specific committees. Committee may set up various subcommittee. task force or team for the purpose of smooth delivery of their objectNes and plans The operational responsibilities a shared between DirectorsUrustee5 and other volunteers through comrnittees and 5uIFcomrnittees. The annual programme of the Charity is agreed at Page 5
Bexloy Nepalese Communlty the Board in advance and the Board delegates its implementstion power to committees. The members will serve to the tomrnittees and SUbnmitteeS on voluntary basis. The followlng is Crnt organisation chart that summarises strategic and operational hierarchy and responsibilities: Nepalese Community lemberslGeneral Chairman+10 TrusteeslDirectors GovernancelStrale9y TrusteeslDirettors Treasurers Executive Committee by Chairman Finance Committee Governing Board of School ofArts, Culture & Lan8ua8e Public Relation Committee Community Relation Committee Di8ital Media & Communication Event Mana8effont Committee Day to day operational activitie5 of the Charity a delegated to the Executive Committee led by the ch8im)an and comprised of trustees and community members. As the charity is run bv unpaid volunteers. the executNe committee set up fvrther Six major committees, with delegated authority from the Board: Finance Committee headed by Treasurer responsible for overall finance. banking and fvndraising. Page 6
Bexloy Nepalese Community Goveming Board of School headed by vice presidert with responsibility to engage and fill the sklll gap identified by the Charity in the area of arts. culture and lan8uage. Public Relation Committee headed by General Secretary with an objective to enhance public image of the or8ènisation and improve relationship with rnajor external stakeholders. Community Relation Committee with an objective to engage hxal members, beneficiaries and maintsin Statistic. Oigltsl media and communication committee responsible for internal and external communication including social media. Event management commKttee to rnana8e Various major or minor events planned for the vear All above committee discharged their duty successfully during the year. Board and committees effecliveness is maintained and ensured through regular reviews of both Board. and individual Trustee performance. In order to achieve its strategic goal. the trustees of the charity have re8iStered the organisation th the Charity commi5sion.that will open up an access to wider 8rant funding bodies. Objectlves and Actlvltles In setting objectives and planning for. activitbes. the Directorsftrustees have grven due consideration to general guidance published by the charity commission relating to public benefiL The main obj'ectives are set out in the governing document as following: The promotion of social inclusion for the public benefit for those in Nepalese community including Gurkha ex-servicemen and their family members in the London Borough of Bexley who are socially excluded on the grounds of their Social and economic position by. Pmwslon of English and Computercourses: To provide basic English language arKI computer Coufses for the benefit of the community- Advancement of Gurkha and Nepalese Culture. TFadition and History: To advance the education of public regarding Gurkha and Nepalese culture, tradition. and history through such means as the trustee5/directors deem appropriate. For the PUFP05e of this clause.s00al excluded mean5 being exduded from society, or part of society, as a result of bein8 a member of a socially and economically deprived community. The Trustees adopt a flexible approath to achieving the objectNes by maintaining rational and pragmatic approach. adapt with chan8in8 need of the society and being as helpful as possible to those we seek to assist. Services are reviewed constantlyto assess rf they are delivered most effectively. Page 7
Bexley Nepalese Communlty We managed to tondutt following Charitib activities in pursuance of its objectives: Highlights 202,3-24 1. Organised varieties of Charitable arKI communty engagement programs. 2. Continue Improving Internal Control System. 3. Awarded with Healthy Communities Award 2023 for its Yoga. Fitness and Zumba program. 4. Awarded with Successful Communtties Award 2023 for its sepiice and contribution to Bexley Community. 5. .Restructuring 8NC Website. 6. Implement BNC domain email for key roles. 7. Digitslise members database and various paper foms. 8. Proactively engaged with London Borough of Bexley. other communities and political leaders. ac-tivities Initiatives Community Outreach l Eieusi Bhailo. Holi Home Visit & welcoming new members, engagement with local council and community leader) BNC School of Arts& Language: (Continuity of Nepali class. Celèbrated Christmas with Santa Claus, Celebrated Sa. las0t1 Pujal Charitable Activities (Grant. donor and self funded) P&J9 8
B•xl•y Nwleso Community Charitable Activities Connerting BNC through Fitness. Yoga & Zumba BNC is organising 45 weeks of Yoga, Zumba. and Fitness programs with an aim of"Stoy Fit Foreverf. sponsored bythe National Lotterycommunlty Fund. The pro8rams are now in their fourth season and currently ongoing. Additionally, BNC collaborated with NRNA UK to host a. 10-week program during Season 3. designed to foster a deeper connection to and understanding of oneself. Prior to this. BNC condurted a 26-week project starting in April 2023. also sponsored by the National Lottery Community Fund. These initiatives have Significant enhanced the health. well-bein& and self-discovery of our members. Moreover. they played a vital role in strengthening connections and cultivating a sense of belongingwithin the community BNC- Footie for Kids BNC organised a 10-week "Footie for Kid< program with the support from Tes¢0 Community Grant, aimed at enhanang the health. wellbeing and. communty belongings among our hildren. A total of 30 children. aced 6-16. participated in the sessions, which proved to be a tremendous success. BNC- Cost of Living Cri5is- Prevention & Management Projert The following program were conducted throughout the last 26 weeks in aid of London Community Foundation: l. Family Zumba dance aThd fits$S pnjgram for 18 weeks (More thèn 80 people including children attended the Session) 2. Personal Finance & Taxes Workshop half a day (around 60 people attended the workshop) 3. Yoga and Mindfulness program"DNe into your Inner Potential- half a day (around 80 people attended the session) 4. Kitab Jatra (Celebrating the power of words1 festival. Mystic Nepal- hatf a day (around 60 people attended the event) 5. Kin¢s Coronation Celebrations-haw a day {around 60 people including thildren attended the event) 6. A half a day retreat 6ody Mind Meditstive Therdpv (around 80 people attended the session) Teej Festival and Teej Pooja Teej festfval is a traditional. hoiy and popular festival of Nepali Hindu wornen. BNC or8anised and celebrated Teej every year to promote Nepafs rKh culture in the UK and more than 150. mostly women (culture lovingl were partiapated in the recreational event. Since the program was dedicatedto a noble cause combined with culture-based entertainment, lot of actNities and Teej Pooja (rituals) was perfomied making it meaningfvl and enjoyable event. Page 9
Bexloy Nepalese Community Dashain Program Dashain is one of the most signrficant and widely celebrated festivals. especial among Hindu communities. BNC organized and celebrated a Dashain program in Ortober 2023. featuring a live pula condurted by a priest from the Pashupatinath Temple. Approximatety 150 community members partidpated in the program. Annual Gathering 8NC organizes an annual gathering to briryd the entire 8NC farn1 together for enjoyment and celebration. This year, the annual gathering was held on lune 24, wtth the Mayor of the London Borough of Bexley as the chief guest. A totsl of 186 members attended the evenL maklng it significant succe55. Loshar 2024 Losar. a New Year celebrated primarily by Nepalese people living in northern region of Nepal. was organized in January 2024. With a total attendance of 159 members. the event hi8hli8hted the harnionious coexirtence of the Nepalese community within the bDrou8h. BNC Youth & Children Engagement BNC organised a day event on the Sunday 26 June 2023, in aid of the Mayorfs Community Weekend- London to bring all the yOh & children in the community together and focus on positive heatth and wellbeine by invo1n8 in varbous activitie5 and celebrate and support buildin8 Strong community relationships. 8NC abo or8anised Parliament week program in Nov 2023 to promots democratic values. inspire the interest in parliamenL politics and encourage young people and the public to engage with the UK'S democratic system and institLrtions . The event included a series of quiz contests on UK democratic systems and various distinguished guests such as the Mayor of the London Borough of Bexley. a local MP. and local councillors attended the event. Continuity with BNC School of Arts. Culture & Language The Charity organises youth actNlties thorough BNC school of Arts. Culture and Language since Its start in November 2018. The artr¥ities indude educating thildren in the field of arts, culture. language, engaging in sports activities amongst others. Participants are children up to the age of 16. Durin8 the last tern). In addibon to the routine Nepali language classes. they celebrated Christma5. Basanta Panchami. and Saraswati Pula. They also organized visits to Chislehurst Caves, Swaminarayan Temple. and Pashupatinath Temple to enhance cultural understanding and community engagement. At present. there are 27 students taking Nepali language lesion in the schoo5. Community Relations and Belonglngness The Community Relations Team has carried out various communal attivttles with the objective of strengthenin8 communal, personal, and eMOtnal relationships, and fostering a sense of belonging within the Society. These acti¥itie5 include pro¥idin8 moral and social support durin& Page 10
Bexley Nepaleso Community significant life events such as lirths. illnesses, marriages. demises, and welcome visits for newlv arrived members. amon8 Others. Overthe past year. BNC organized a total of 10-12 home visits. ilUding welcome visits for new members and congratulatory visrts for members. new business ventures. academic achievements, sports accomplishments, etc. BNC organized a Deu5ilBhailo (Deepawali festr¥all program. a significant cultural event, at 7 homes of community members this year. The members collerted donations, sweets. and food to share blessings for prosperity with one another. Atotal of 60-80 members participated in this event. Tho.money raised was used to fund the Nepali language school and related activities. Sirnilarly, a Christmas dinner for BNC'S Executive Committee, advisors, and trustees was held in December 2023 to build teamwork and strengthen personal relationships during the festive season. BNC Holi Holi, a vibrant Nepali festival of colours. was celebrated at Danson Park in March this year. Despite the unfavourable weather. the members, along with their children, participated with great enthusiasm. The event featured the traditional throwing of bright powders, creating a colourful atmosphere that delighted everyone. In addition tothe fun of the colours, participants enjoyed delicious foodand 5rtac. which added to the festive spirit. The gathering provided an opportunity for community members to come together. celebrate their CUre, and strengihen bonds while having a memorable time with friends and family. Nepali Movie Screening BNC successfully hosted its first movie screening program, featuring the film Soul of the Commando. which highliBhts the remarkable life and contributions of the British Gurkhas. The screening provided a unique opportunity for the community to gain insight into the dedication and bravery of the British Gurkhas. The event was well-attended, with approximately 60 membersjoinin8 togethertowatch the film. This event marked an important milestone for BNC, combining culture and community engagement for our members. Improving Public Relation Volunteerin Park Run in Ju 2024 BNC volunteered at the renowned Parkrun event at Danson Park in July 2024. The event aimed to contribute to and integrate with the broader local community while promoting health and wellbeing. Approximately 53 BNC vdunteers participated. Parliament Wisit- 8 Se & 2 Oct 2023 BNC organized a Parliament Visit last year in coordination with local MP Mr. Louie French. A total of 50 8NC members attended the event over a two-dayperiod. Page11
8exley 14epalese Communlty 8NC organi5ed variou5 other program rn to-ordination with other communlties such as'osho Mediiaiion in co-ordination with Dartford Nepalese Community. Spiritual program for kids from Nepal's first Ram Katha orator. Improving Communication Intemally and Externalty The Digital media and communication team 15 working towards impfoving communitath)n both with mtmber5 and externally, including the use of social media. Facebook. WhatsApp. Twitter, Tiktok. and YouTube were selerted as the most commonly used platforrns for member iThteracbons. In addition to Facebook and Whatsapp. the Charity has also utilized traditional media such as newspapers. as well as national and intemational online news outlets. including blog5, to disseminate news to a Wbder community. The tharity has been incredibfy 5Utcessful in spreading messages and news to our fellow members and the broader community. while a150 making efforts to liaise both internally and external. To keep up with the digital age. the charity has utilized live broadcasting through Facebook live for spontaneous coverage of Various activities and events. 8NC has achieved a remarkable rnile5tone by redeveloping tis website. migrating it5 database and ernail systern to Microsoft 365, and trangtioning its Communi110n platform from Wiberto Whatsapp recenilv. Financlal Review The resultsforthe perd. andthttharit¢sfinaneial position atthe end of the peritid. are shown in the attached financial statements. The CharitS total incoming resources for the year were £36,69012023-. £30.1991 of which £23.355 was unrestritted and £13.335 was restricted. All income is retorded in the tharity accounts. Durin8 the year grant funds were recerved as folltr4¥S: The Lon¢*)n Community E9.520. TNL Mayorfs Communrty Weekend London foryouth and Children Program £1.500, Ew £815. Testo IFootie for all) £l.QCrfJ and Speakers Art Fund Small Gnnt Stheme ESC. In addition of eranL the chwity received a donation of £23.355 from various members of the community including from Mantax Lynton, Charity's accountants who donated £750 equivalent io their annual fee lorvarious compliance ser¥e$ includin8 preparing charity atcounts. The charivs total resources expendetl for the year were £40,205, of which £18.884 was unrestricted and £21.321 was restricted. There was net loss of £3.515 durin8 ihe year. This is because of the restricted fund of £7.986 carried forward from the previous year was Spent in the current year. Page 12
Be Nwleso Communlty Income & Expenditure FY23124 FY 22n3 FY 2V22 FY 20fai no FY 18119 FY 17118 Ir¥*5• Pl 16117 The charityand its Volunteers worked very hard to raise fund forthe charlty slnce Incorporatlon and there was conslstent growth from FY 161171£1.3501 to FY 22J231É30,7901, with a slight decrease in the current year {£27.2761. This is because of the restrirted fund of £7,986 carried forward from the previous year was spent in the current year. Growth of Bank Balance 276 £17.027, 79, £1 FY16117 FY17118 FY18119 FY19120 FY20121 FY21122 FY22123 FY23124 Golng concern The trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason. they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern ba515 can be found in the Accounting Policies. Pag• 13
8•xley N•pal•Jo Cofftmunlty TRUMES, RESPONSIBIUTIES STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 The Tlustees (who are also DIrtOrS of 8exley Nepalese Communlty for the purposes of company lawl are responslble for preparln8 ihe Trustees. report and the flnanclal rtatements In accordance wlth applleable law and Unlied fin8dom Accountlng Standards Iunlted Klngdom Generally Accepted AccountSn8 Practlce). Company law requ5res ihe Trustees to prepafe fiftancr41 statements for eath financlal year. Under company law the Trustees must not approve the financial statements unless ihey are satlsfied that they give a true and fair view of the State of affairs of the charitable company and of the incorning resources and application of resources. indudlng the income and expenditu, of the charltable company for that period. In preparing these financial statements. the Tnjstees are required to: select sultable accounting polities and then appty them consistently: observe the methods and printiples of the Charities SORP- make judgments and a¢tounting estimates that are reasonable and prudent; state whether applicable UK Attounting Standards have been followed. Subject to any material departures diK105ed and explained in the finantial ststements- ppare the financial swements on the going concern basis unless it is inappropriate to presume that the charitable mmpany will continue in operation. The Truslee5 are spOnsible for keepine adequate accounting records that are sufficient to Show and explain the charitable tompany's transactions and disclose with reasonable accuracy at any lime the financial position of the charitable company and enable them to ensu that the financial Statements comply with the Companies Art 2006. They are a150 responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the preventi•)n and detection of fraud and other irregularitie Thi5 report was approved by the Trnstees and signed on their behalf by: Or Harb5h Chainnan ate: 28/1112 J Po40 14
8exley Nepalese Community REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED sfATUTORY FINANCIAL STATEMENTS OF BEXLEY NEPALESE COMMUNITY FOR THE YEAR ENDED 31 MARCH 2024 In order to asslst you to fulfil your duties under the Companies Art 2006. we have prepared for your approval the financial statements of Bexley Nepalese Community for the year ended 31 March 2024 which comprise the Statement of Financial Activities incorporating income and expenditure atcount. the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us. As a practising member firni of the Institute of Chartered Accountants in England and Wales IICAEWI, we are subject to its ethical and other profe55i0nal requirefflents which are detailed at https:l/Vw.icaeW.comlreguEatIon. This report is made solely to the Trustees in accordance with the temis of our engagement. Our work has been undertaken solely to prepare foryourapproval the financial statements of Bexley Nepalese Community and state those matters that we have agreed to state to the Trustees, in this report in accordance with ICAEW Technical Release TECH07116AAF. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than Bexley Nepalese Community and its Trustees, as a body. for our work or for this report. It is your duty to ensure that Bexley Nepalesè Community has kept adequate accounting retords and to prepare statutory financial statements that give a true and fair view of the assets. liabilities, financial position and net incoming resource5 of Bexley Nepalese Community. You consider that Bexley Nepalese Cornmunity is exempt from the statutory audit requirement for the year. We have not been instrurted to carry out an audit or review of the financial statements of Bexley Nepalese Community. For this reason. we have not verified the accurary or completeness of the accounting records or information and explanations you have given to U5 and we do not. therefore. express any opinion on the statutory financial Statements. Mantax Lynt¢)n Chartered Accountants & Registered Auditors 207 Equitable House 7 General Gordon Square London SE18 6FH Date: 23 November2024 Page 15
Bexley Alepalese Communlty Statement of Financial Activities Incorporating Income and Expenditure Accounts for the Year Ended 31 March 2024 2024 2023 Unrèstritted Fund Restrfrted Fund Total Totsl Note Income from: Donations and legacies Grants & Charitable activities Total Income 23.355 23.355 13.335 36.690 18,889 11.310 30.199 13,335 1333S 23355 Expenditure on: Raising funds Administration costs Charitable activities Total eJtp¢nditure 3.455 15,429 18 3A55 36.750 40.205 2.146 20.770 22,916 21,321 21321 et Income I lexpendhule) before transfèr 4.471 17.9861 13.5151 7.2B3 Total funds brought forward Total funds tarried fon¥ard 22,883 27354 7,986 30.869 27.354 23.586 30,869 The notes on page5 17 to 20 form part of this financial statements. Pagè 16
aexloy Ilepalese Communlty Balance Sheet as of 31 March 20Z4 1024 20Z3 Cash at Bank Cash In Hand 27,276 78 30.791 78 30169 17J54 Charlty Fund5 Resirlcled Funds Unrestrirted Funds T¢)tsl Funds 7,986 22.883 3069 273S4 27J54 The Notes on pa8es 17 to 20 forni part of th ljnancial statements. The comparry's tlftancial"5tatements have been ppared In accordance wlth the provisions applioble to companie5 subleci to the Small company reeime. TheTrystees coftsiderihatthecompany is entiiled ioexemptlon from the requirefflent to have an audit undef the provisions of seuion 477 of the tsmpans Art 2006 1.the Act.) and mernber5 hove not required the company io Oon an alt lor the year In questlon In accordance with sertton 476 of theA¢i. The Tfustees a(knLywled8e ¢heir responsibilitits for compIng wilh ihe requirements of the Companies Ad 2006 with respect to accounlin8 records and ihe preparation of financial tements. The financialllatements were appro¥ed and authorised fw15sue bytheTrusI and si8ned on their behalf. ty- Chalrnian Date: 2s7lil>4 Dare: P17
Bexley Nepales• Communlty NOTES TO THE FINANaAL sfATEMENTS FOR THE YEAR ENDED 31 Marth 2024 AccauThlinc policies 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance wfth Accounting and Rep)rtin8 by Charities- Ststement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective I january 20151 (Charitie5 SORP IFRS 10211. the Financial Reportingstandard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 21x16. Bexley Nepalese Community meets the definition of a public benefit entity under FRS 102. Assets and liabilities are Initial recognised at historical cost or transattion Value unless otherwise ststed in the levant accountin8 policy. 1.2 Cornpany status The company 15 a company limited by guarantee. The member5 of the company are the Trustees named on page l. In the event of the company being wound up. the liability in respect of the guarantee is limited to £1 per member of the company. 1.3 Income All income is recognised once the company has entlrlement to the income. it is probable that the income will be received and the amount of incorne receivable be rneasured reliablv. For legacies. entitlement is tsken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finali5ed and notrficat¢on has been made by the executor{sl to the Trust that a distribution will be made. or when a distribution is received from the estate. Receipt of a legacy. in whole or in parL is On considered probable when the amount can be measured reliably and the company has been notified of the executor's intentton to make a distribution. Where legacies have been notified to the company, or the company Is aware of the granting of probate. and the criteria for income recognition have not been met. then the le8ary is treated as a contingent asset and disclosed if material. Oonated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item havè been met. the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP IFRS 1021. the general volunteer time of the Friends is not recognised and refer to the Trustee5' report for more inforn)ation about their contribution. On receipL donated professional serv15 and th)nated facilities are recognised on the basis of the value of the gift to the compary which is the amount the company would have been willing to paytoobtain ser¥i¢es orf&ilities of equNalent economic benefit on the open market: a correswnding amount IS then retoenised in expenditure in the period of receipt. Page 18
BleY Nepalese Communlty Income tsx coVerable in relation to donatTrons retsNed under Gift Aid or deed5 of covenant is recognised at the time of the donation. Income tax recoverable In relation to investment income is recognised at the time the investment income is receivable. 1.4 Expendlture Expenditure is recogni5ed once there is a legal or constructive obligation to transfer economic benefit to a third party. it 15 probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be meaSUd reliably. Expenditure is classified by activity: The costs of each attivity are made up of the total of dirert Costs and shared costs. including support costs involved in undertaking each artivity. Direct costs attribLrtable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and supportcosts which are not attributable toa sin8le actNtty are apportioned between those activities on a basis consistent with the use of resourtes. Central staff tosts a allocated on the basis of time spenL and depreciation charges allocated on the portion of the asseys use. Support costs are those costs incurred. direttly in support of expenditure on the objects of the company and include projert management carried out at Headquarters. Governance costs are those incurred in connertion with adrninistration of the company and compliance with constitutional and statutory requirements. Costs of generating funds are costs incurred in attracting voluntary income. and thoseincurred in trading actjvitses that raise funds. Charitable activities and Governance costs are costs incurred on the company's operations. including sUPPOrt costs and costs relating to the go¥erinan¢e of the company apportioned to charitable a¢tivities. l.S Cash at Bank and in hand Cash at bank and in.hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposlt or similar accounL 1.6 Flnwdal IDslrumeDts The company only ha5 financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recogni5ed at transaction value and subsequently measured at their settlement value with the exception of bank loans whith are subsequently measured at amortised cost using the effeclNe interest method. 1.7 Fund accountlng General fund5 are unrestricted funds which.are available for use at the discretion of the Trustees in furtherance of the general objectrves ofthe company and which have not been designated for other purposes. Restricted. funds are fvnds which are to be used in attordance wrth specific." restrictions imposed by donors or which have been raised by the company for Page 19
particular purpose5. The costs of raising and adrninisteriTha such fund5 are charged against the speafic fund. The aim and use of each restricted fund is set out in the notes to the financial ststements. I. Incom• from Doftaiion and Lewles Fund Fund 2023 Donations 23.355 23355 18.889 Totsl 23355 23355 18.889 3: Income from Grants & Charttable arti¥lties Fund Fund 24 2023 Mayorfs Community Weekend Fund The London Community The National Lottery Community Fund EWWWMT Tesco (Footie For Alll Development Alliances Speakerfs Art Fund Non Resident Nepali Association UK 9.520 9.520 9.010 800 815 815 1.0 5(M) 500 Totsl 13335 13335 11.310 4: Anatysls of Expendlture 1024 2023 Fwd Fund Totsl Total Charitable Artivities 18.134 21.321 39A55 22.166 Legal & Accountancy fee- Governance 750 750 750 Totsl 21321 40.205 22J16 Pag0 20
8exley Alepalese Community 5: Statement of Fund" Balance at 01 April 2023 Balance at31 March 2024 Income Expenditure Transfers Unrestyirted funds General funds - all funds Restrirted funds Restricted funds - all funds 22,883 23.355 {18,8841 27.354 7.986 13.335 {21.321) Total 30,869 36,690 (40,205) 27,354 Balance at 01 April 2022 Income Expermliture Transfers Balance at 31 March 2023 Unrestrirted funds General funds- all funds Restricted funds Restricted funds- all funds 18.S68 19.689 115.3741 22,883 5.018 io.sio 17.5421 7,986 Totsl 23,586 30.199 122,9161 30.869 6: Analysis of Net A55ets by Fund Unrestrirted Restricted Ivnds funds Total Total Current Assets: 20Z4 27,354 27,354 Total Current Assets: 2023 22.883 7.986 30,869 Controlling parties The Company is controlled by the board of trustees who ar¢ a150 the directQTS. Pagè 21