**REGISTERED COMPANY NUMBER: CE023408(England and Wales) REGISTERED CHARITY NUMBER: 1190788** Report of the Trustees and Unaudited Financial Statements for the Period 10 August 2020 to 31 March 2021 for The Chand Foundation The Chand Foundation Contents of the Financial Statements for the Period 10 August 2020 to 31 March 2021 ||Page| |---|---| |Reference and Administrative Details|1| |Report of the Trustees|2| |Statement of Financial Activities|3| |Balance Sheet|4 to 5| |Notes to the Financial Statements|6 to 7| |Detailed Statement of Financial Activities|8| The Chand Foundation ## Reference and Administrative Details for the Period 10 August 2020 to 31 March 2021 ## **TRUSTEES** **TRUSTEES** Formuz Ali (Chairperson) Ana Miah (Trustee) Afsar Ali (Trustee) **REGISTERED OFFICE** 36 Reynolds House Approach Road London E2 9JR **REGISTERED COMPANY** CE023408 (England and Wales) **NUMBER REGISTERED CHARITY** 1190788 **NUMBER** Page 1 The Chand Foundation ## Report of the Trustees for the Period 10 August 2020 to 31 March 2021 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 10 August 2020 to 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005. ## **INCORPORATION** The charitable company was incorporated on 10 August 2020. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. ## **FINANCIAL REVIEW** ## **Funds in surplus** The charity received donations of £5,605 for the period to 31 March 2021. After outgoing expenses of £3,657, the charity was left with a surplus of £1,948 for the year. Approved by order of the board of trustees on 18 June 2021 and signed on its behalf by: Formuz Ali - Trustee Page 2 The Chand Foundation ## Statement of Financial Activities for the Period 10 August 2020 to 31 March 2021 |||Unrestricted| |---|---|---| |||fund| ||Notes|£| |**INCOMING RESOURCES**||| |**Incoming resources from generated**||| |**funds**||| |Voluntary income||5,605| |**RESOURCES EXPENDED**||| |**Costs of generating funds**||| |Costs of generating voluntary income|2|876| |**Charitable activities**||| |Help the poor||2,268| |**Governance costs**||180| |**Other resources expended**||333| |**Total resources expended**||3,657| |**NET INCOMING RESOURCES**||1,948| |**TOTAL FUNDS CARRIED FORWARD**||1,948| The notes form part of these financial statements Page 3 |The Chand Foundation||| |---|---|---| |Balance Sheet||| |At 31 March 2021||| |||Unrestricted| |||fund| ||Notes|£| |**CURRENT ASSETS**||| |Cash at bank||2,128| |**CREDITORS**||| |Amounts falling due within one year|4|(180)| |**NET CURRENT ASSETS**||1,948| |**TOTAL ASSETS LESS CURRENT**||| |**LIABILITIES**||1,948| |**NET ASSETS**||1,948| |**FUNDS**|5|| |Unrestricted funds||1,948| |**TOTAL FUNDS**||1,948| The notes form part of these financial statements Page 4 continued... The Chand Foundation ## Balance Sheet - continued At 31 March 2021 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2021. The members have not required the charitable company to obtain an audit of its financial statements for the period ended 31 March 2021 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. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements were approved by the Board of Trustees on 18 June 2021 and were signed on its behalf by: Formuz Ali -Trustee The notes form part of these financial statements Page 5 The Chand Foundation ## Notes to the Financial Statements ## for the Period 10 August 2020 to 31 March 2021 ## **1. ACCOUNTING POLICIES** ## **Accounting convention** The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. ## **Incoming resources** All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. ## **Resources expended** Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with 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. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. COSTS OF GENERATING VOLUNTARY INCOME** Support costs 876 ## **3. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the period ended 31 March 2021. ## **Trustees' expenses** There were no trustees' expenses paid for the period ended 31 March 2021. ## **4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** Other creditors 180 Page 6 The Chand Foundation ## Notes to the Financial Statements - continued for the Period 10 August 2020 to 31 March 2021 ## **5. MOVEMENT IN FUNDS** |||Net|| |---|---|---|---| |||movement|| |||in funds|At 31.3.21| |||£|£| |**Unrestricted funds**|||| |General fund||1,948|1,948| |**TOTAL FUNDS**||1,948|1,948| |Net movement in funds, included in the above are as follows:|||| ||Incoming|Resources|Movement| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|5,605|(3,657)|1,948| |**TOTAL FUNDS**|5,605|(3,657)|1,948| Page 7 The Chand Foundation ## Detailed Statement of Financial Activities for the Period 10 August 2020 to 31 March 2021 |**INCOMING RESOURCES**
**Voluntary income**
Donations
**Total incoming resources**
**RESOURCES EXPENDED**
**Charitable activities**
Blankets for the poor
Family support
Student support
House repairs for the poor
**Governance costs**
Accountancy
**Other resources expended**
Volunteer expenses
**Support costs**
**Management**
Advertising
Consultancy fee
**Finance**
Bank charges
**Human resources**
Admin expenses
**Other**
Postage and stationery
**Total resources expended**
**Net income**|£
5,605
5,605
1,148
945
90
85
2,268
180
25
107
300
407
69
700
8
3,657
1,948| |---|---| This page does not form part of the statutory financial statements Page 8