REGISTERED COMPANY NUMBER: CE020905 (England and Wales)
REGISTERED CHARITY NUMBER: 1188242
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2023
for
Vahani Scholarship Trust
Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY
Vahani Scholarship Trust
Contents of the Financial Statements
for the Year Ended 31 March 2023
|
Page |
Report of the Trustees |
1 |
Statement of Financial Activities |
2 |
Balance Sheet |
3 |
Notes to the Financial Statements |
4 to 7 |
Detailed Statement of Financial Activities |
8 |
Vahani Scholarship Trust
for the Year Ended 31 March 2023
Report of the Trustees
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31March2023.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimitedcompany,limited by
guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
CE020905 (England and Wales)
Registered Charity number
1188242
Registered office
Wework North West House
119 Marylebone Road
London
London
NW1 5PU
Trustees
Ms S Misra
Ms J Misra
Ms B Barmi
Company Secretary
Approved by order of the board of trustees on 31 May 2024 and signed on its behalf by:
Ms S Misra - Trustee
Page 1
Vahani Scholarship Trust
Statement of Financial Activities
for the Year Ended 31 March 2023
|
|
31.3.23 |
31.3.22 |
|
|
Unrestricted |
Total |
|
|
fund |
funds |
|
Notes |
£ |
£ |
EXPENDITURE ON |
|
|
|
Raising funds |
2 |
780 |
780 |
NET INCOME/(EXPENDITURE) |
|
(780) |
(780) |
RECONCILIATION OF FUNDS |
|
|
|
Total funds brought forward |
|
(1,560) |
(780) |
TOTAL FUNDS CARRIED FORWARD |
|
(2,340) |
(1,560) |
The notes form part of these financial statements
Page 2
Vahani Scholarship Trust
Balance Sheet
31 March 2023
|
|
31.3.23 |
31.3.22 |
|
|
Unrestricted |
Total |
|
|
fund |
funds |
|
Notes |
£ |
£ |
CREDITORS |
|
|
|
Amounts falling due within one year |
6 |
(2,340) |
(1,560) |
NET CURRENT ASSETS/(LIABILITIES) |
|
(2,340) |
(1,560) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
(2,340) |
(1,560) |
NET ASSETS/(LIABILITIES) |
|
(2,340) |
(1,560) |
FUNDS |
7 |
|
|
Unrestricted funds |
|
(2,340) |
(1,560) |
TOTAL FUNDS |
|
(2,340) |
(1,560) |
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006for the
year ended 31 March 2023.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
Thesefinancialstatementshavebeenpreparedin accordancewiththe provisionsapplicableto charitable companies
subject to the small companies regime.
The financialstatementswereapprovedby the Boardof Trusteesand authorisedfor issueon 31 May 2024and were
signed on its behalf by:
S Misra - Trustee
The notes form part of these financial statements
Page 3
Vahani Scholarship Trust
Notes to the Financial Statements
for the Year Ended 31 March 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland' and
the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforon an accruals basis
and has beenclassifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesona basisconsistentwith the
use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
2. RAISING FUNDS
Raising donations and legacies
Raising donations and legacies |
|
|
|
31.3.23 |
31.3.22 |
|
£ |
£ |
Support costs |
780 |
780 |
3. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2023norforthe year
ended 31 March 2022.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31March2023norfortheyear ended
31 March 2022.
Page 4
Vahani Scholarship Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
|
|
|
31.3.23 |
31.3.23 |
31.3.22 |
|
Trustees |
|
|
3 |
3 |
|
No employees received emoluments in excess of £60,000. |
|
|
|
|
5. |
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
|
|
|
|
|
|
|
|
|
Unrestricted |
|
|
|
|
|
fund |
|
|
|
|
|
£ |
|
EXPENDITURE ON |
|
|
|
|
|
Raising funds |
|
|
|
780 |
|
NET INCOME/(EXPENDITURE) |
|
|
|
(780) |
|
RECONCILIATION OF FUNDS |
|
|
|
|
|
Total funds brought forward |
|
|
|
(780) |
|
TOTAL FUNDS CARRIED FORWARD |
|
|
|
(1,560) |
6. |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
|
|
|
|
31.3.23 |
|
31.3.22 |
|
|
|
£ |
|
£ |
|
Accrued expenses |
|
2,340 |
|
1,560 |
7. |
MOVEMENT IN FUNDS |
|
|
|
|
|
|
|
Net |
|
|
|
|
|
movement |
|
At |
|
|
At 1.4.22 |
in funds |
|
31.3.23 |
|
|
£ |
£ |
|
£ |
|
Unrestricted funds |
|
|
|
|
|
General fund |
(1,560) |
(780) |
|
(2,340) |
|
TOTAL FUNDS |
(1,560) |
(780) |
|
(2,340) |
Page 5
Vahani Scholarship Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
7. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
- |
(780) |
(780) |
TOTAL FUNDS |
- |
(780) |
(780) |
Comparatives for movement in funds
|
|
Net |
|
|
|
movement |
At |
|
At 1.4.21 |
in funds |
31.3.22 |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
(780) |
(780) |
(1,560) |
TOTAL FUNDS |
(780) |
(780) |
(1,560) |
Comparative net movement in funds, included in the above are as follows:
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
- |
(780) |
(780) |
TOTAL FUNDS |
- |
(780) |
(780) |
A current year 12 months and prior year 12 months combined position is as follows:
|
|
Net |
|
|
|
movement |
At |
|
At 1.4.21 |
in funds |
31.3.23 |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
(780) |
(1,560) |
(2,340) |
TOTAL FUNDS |
(780) |
(1,560) |
(2,340) |
Page 6
Vahani Scholarship Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
7. MOVEMENT IN FUNDS - continued
A currentyear12 monthsandprioryear12 monthscombinednetmovementin funds,includedin the above
are as follows:
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
- |
(1,560) |
(1,560) |
TOTAL FUNDS |
- |
(1,560) |
(1,560) |
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
Page 7
Vahani Scholarship Trust
Detailed Statement of Financial Activities |
|
|
|
|
for the Year Ended 31 March 2023 |
|
|
|
|
|
31.3.23 |
|
31.3.22 |
|
|
£ |
|
£ |
|
INCOME AND ENDOWMENTS |
|
|
|
|
Total incoming resources |
|
- |
|
- |
EXPENDITURE |
|
|
|
|
Support costs |
|
|
|
|
Governance costs |
|
|
|
|
Accountancy and legal fees |
|
780 |
|
780 |
Total resources expended |
|
780 |
|
780 |
Net expenditure |
(780) |
|
(780) |
|
This page does not form part of the statutory financial statements
Page 8