2025-03-31-accounts - Folkestone Nepalese Community (Fnc)

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Folkestone Nepalese Community (FNC)

Charity No. 1193139

Trustees' Report and Unaudited Accounts

31 March 2025

Folkestone Nepalese Community (FNC) Contents

	Pages
Trustees' Annual Report	2
Independent Examiner's Report	3
Statement of Financial Activities	4
Balance Sheet	5
Notes to the Accounts	6 to 12
Detailed Statement of Financial Activities	13 to 14

Page 1

Folkestone Nepalese Community (FNC) Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2025.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1193139

Trustees

The following trustees served during the year:

C.B. Gurung

R. Limbu

R.B. Pun

B. Rai

N.K. Siwa J.B. Thapa

Accountants

Hampshire Accountants Ltd Old Town Hall 30 Grosvenor Road Aldershot Hampshire GU11 3DP

Reserves Policy

LEVEL OF RESERVES TO BE HELD

Following the latest approved financial review and risk assessment, Folkestone Nepalese Community (FNC) will hold a designated reserve of:

£29,507 (twenty-nine thousand, five hundred and seven pounds)

This reserve level represents:

Approximately 3–4 months of essential operating costs
A sufficient cushion to cover unexpected expenditure or delays in grant payments
A safe and appropriate level of unrestricted reserves to maintain the organisation’s financial stability

The reserve level will be reviewed annually and adjusted in line with:

Changes in operating expenditure
Financial risk assessments
Sustainability requirements
Conditions attached to new grants or funding agreements

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Page 2

Folkestone Nepalese Community (FNC) Trustees Annual Report

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

R.B. Pun Trustee 05 December 2025

Page 3

Folkestone Nepalese Community (FNC) Independent Examiners Report

Independent Examiner's Report to the trustees of Folkestone Nepalese Community (FNC)

I report to the trustees on my examination of the financial statements of Folkestone Nepalese Community (FNC) for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

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

the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.

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.

Mr. BR Thapa ACCA Hampshire Accountants Ltd Old Town Hall 30 Grosvenor Road Aldershot Hampshire GU11 3DP 05 December 2025

Page 4

Folkestone Nepalese Community (FNC) Statement of Financial Activities

for the year ended 31 March 2025

Unrestricted funds	Restricted funds	Total funds	Total funds
2025	2025	2025	2024
£	£	£	£

98,781	129,660	228,441	147,219
-	-	-	19,141
98,781	129,660	228,441	166,360

164	-	164	734
33,945	47,003	80,948	67,345
42,436	87,058	129,494	67,836
76,545	134,061	210,606	135,915
-	-	-	-
22,236	(4,401)	17,835	30,445
-	-	-	-
22,236	(4,401)	17,835	30,445

22,236	(4,401)	17,835	30,445

73,112	15,161	88,273	57,828
95,348	10,760	106,108	88,273

Page 5

Folkestone Nepalese Community (FNC) Balance Sheet

at 31 March 2025

Charity No. 1193139 Fixed assets Tangible assets 10 Current assets Cash at bank and in hand Creditors:Amount falling due within one year 11 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 12 Restricted income funds Unrestricted funds 12 General funds Reserves 12 Total funds	2025 £ 4,862 4,862 112,206 112,206 (10,960) 101,246 106,108 106,108 106,108 10,760 10,760 95,348 95,348 106,108	2024 £ 3,059
		3,059 88,421
		88,421 (3,207)
		85,214 88,273
		88,273
		88,273
		15,161
		15,161 73,112
		73,112
		88,273

Approved by the trustees on 05 December 2025

And signed on their behalf by:

R.B. Pun Trustee 05 December 2025

Page 6

Folkestone Nepalese Community (FNC) Notes to the Accounts

for the year ended 31 March 2025

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 7

Folkestone Nepalese Community (FNC) Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 8

Folkestone Nepalese Community (FNC) Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 9

Folkestone Nepalese Community (FNC) Notes to the Accounts

2 Statement of Financial Activities - prior year

2 Statement of Financial Activities - prior year
Income and endowments from: Donations and legacies Other Total Expenditure on: Raising funds Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies 4 Other income	Unrestricted £ 98,781 - 98,781	Unrestricted funds 2024 £ 42,702 19,141 61,843 734 25,168 20,657 46,559 15,284 15,284 15,284 57,828 73,112 Restricted £ 129,660 - 129,660	Restricted funds 2024 £ 104,517 - 104,517 - 42,177 47,179 89,356 15,161 15,161 15,161 - 15,161 Total 2025 £ 228,441 - 228,441 Total 2025 £ - -	Total funds 2024 £ 147,219 19,141
				166,360 734 67,345 67,836
				135,915
				30,445
				30,445
				30,445 57,828
				88,273
				Total 2024 £ 129,262 17,957
				147,219
				Total 2024 £ 19,141
				19,141

Page 10

Folkestone Nepalese Community (FNC) Notes to the Accounts

5 Expenditure on raising funds

Fundraising trading costs Fundraising Activities 6 Expenditure on charitable activities Expenditure on charitable activities Governance costs 7 Other expenditure Employee costs Motor and travel costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 8 Net income before transfers This is stated after charging: Depreciation of owned fixed assets 9 Staff costs Salaries and wages Social security costs Pension costs	Unrestricted £ 33,945 - 33,945 Unrestricted £ 2,540 - 14,249 1,069 20,002 4,577 42,436	Unrestricted £ 164 164 Restricted £ 47,003 - 47,003 Restricted £ 73,669 - 4,102 - 6,449 2,838 87,058 2025 £ 1,069 2025 59,227 4,804 1,216 65,247	Total 2025 £ 164 164 Total 2025 £ 80,948 - 80,948 Total 2025 £ 76,209 - 18,351 1,069 26,451 7,414 129,494	Total 2024 £ 734
				734
				Total 2024 £ 5,288 62,057
				67,345
				Total 2024 £ 35,777 525 7,482 764 19,198 4,090
				67,836
				2024 £ 764 2024 32,423 1,057 273
				33,753

No employee received emoluments in excess of £60,000.

Page 11

Folkestone Nepalese Community (FNC) Notes to the Accounts

10 Tangible fixed assets

10 Tangible fixed assets
Cost or revaluation At 1 April 2024 Additions At 31 March 2025 Depreciation and impairment At 1 April 2024 Depreciation charge for the year At 31 March 2025 Net book values At 31 March 2025 At 31 March 2024 11 Creditors: amounts falling due within one year Other taxes and social security Other creditors Accruals	£ 1,738 - 1,738 849 161 1,010 728 889 2025 £ 9,611 629	£ 4,237 2,873 7,110 2,068 908 2,976 4,134 2,169	£ 5,975 2,873
			8,848
			2,917 1,069
			3,986
			4,862
			3,058
			2024 £ 2,305 182
	720		720
	10,960		3,207

Page 12

Folkestone Nepalese Community (FNC) Notes to the Accounts

12 Movement in funds

At 1 April 2024 Restricted funds: Restricted income funds: Administration fund - CPAR Project 6,512 Garden project - Education & digital activities - Health & wellbeing project 8,649 Total 15,161 Unrestricted funds: General funds 73,112 Total funds 88,273 Purposes and restrictions in relation to the funds: Restricted funds: Administration fund CPAR Project Garden project Education & digital activities Health & wellbeing project 13 Analysis of net assets between funds	Incoming resources (including other gains/losses ) £ 89,286 15,600 1,200 5,948 17,626 129,660 98,781 228,441	Resources expended £ (92,638) (21,472) (500) (1,439) (18,013) (134,061) (76,545) (210,606)	At 31 March 2025 £ (3,352) 640 700 4,509 8,262
			10,760
			95,348
			106,108

Unrestricted funds £ 4,862 111,486 116,348 At 1 April 2024 £	Restricted funds £ - (10,240) (10,240) Cash flows £	Total £ 4,862 101,246
		106,108
		At 31 March 2025 £
88,421	23,785	112,206
88,421 88,421	23,785 23,785	112,206
		112,206

Page 13

Folkestone Nepalese Community (FNC) Notes to the Accounts

15 Commitments

Operating lease commitments

Annual commitments under non-cancellable operating leases are as follows:

	2025	2025	2024	2024
	Land and buildings	Other	Land and buildings	Other
	£	£	£	£
Operating leases with expiry date:
*Pension commitments*
		2025		2024
		£		£
The pension cost charge to the charity
amounted to:		1,216		273

Page 14

Folkestone Nepalese Community (FNC) Statement of Cash flows for the year ended 31 March 2025

Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Other gains/losses Increase in trade and other payables Net cash provided by operating activities Cash flows from investing activities Payments for property, plant and equipment Net cash (used in)/from investing activities Net cash from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2025 £ 17,835 1,069 - 7,753 26,657 (2,873) (2,873) - 23,784 88,421 112,205	2024 £ 30,445 764 - 2,487
		14,555 -
		19,141

		-

		33,696
		54,725
		88,421

Components of cash and cash equivalents
Cash and bank balances	112,206	88,421

	112,206	88,421

Page 15

Folkestone Nepalese Community (FNC) Detailed Statement of Financial Activities

for the year ended 31 March 2025

Income and endowments from: Donations and legacies Other Total income and endowments Expenditure on: Costs of other trading activities Fundraising Activities Total of expenditure on raising funds Charitable activities Total of expenditure on charitable activities Employee costs Salaries/wages Directors' remuneration Employer's NIC Pension costs Staff entertainment Staff recruitment Staff training Temporary staff Travel and subsistence Premises costs Rent Light, heat and power Premises cleaning Premises insurances	Unrestricte d funds 2025 £ 98,781 - 98,781 - - 98,781 164 164 164 33,945 - 33,945 33,945 - - - - 50 - 2,340 150 2,540 - - 1,100 12,765 13 20	Restricted funds 2025 £ 129,660 - 129,660 - - 129,660 - - - 47,003 - 47,003 47,003 59,227 - 4,804 1,216 - - - 8,422 73,669 - - - - 2,570 -	Total funds 2025 £ 228,441 - 228,441 - - 228,441 164 164 164 80,948 - 80,948 80,948 59,227 - 4,804 1,216 50 - 2,340 8,572 76,209 - - 1,100 12,765 2,583 20	Total funds 2024 £ 129,262 17,957
				147,219
				19,141
				19,141
				166,360 734
				734
				734 5,288 62,057
				67,345
				67,345 13,018 19,405 1,057 273 - 2,024 - -
				35,777
				525
				525
				2,400 - 1,221 -

Page 16

Folkestone Nepalese Community (FNC) Detailed Statement of Financial Activities

Premises repairs and maintenance Other premises costs General administrative costs, including depreciation and amortisation Depreciation of Depreciation of Bank charges Equipment repairs and maintenance General insurances Postage and couriers Software, IT support and related costs Stationery and printing Subscriptions Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Management charges Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	338 13 14,249 161 908 97 - 40 45 372 2,485 546 15,538 878 21,071 - 2,809 1,768 4,577 42,436 76,545 - 22,236 22,236 - 22,236 73,112 95,348	1,363 170 4,102 - - 69 - 1,005 60 3,976 360 - 957 23 6,449 720 - 2,118 2,838 87,058 134,061 - (4,401) (4,401) - (4,401) 15,161 10,760	1,700 183 18,351 161 908 167 - 1,045 104 4,348 2,845 546 16,495 901 27,520 720 2,809 3,885 7,414 129,494 210,606 - 17,835 17,835 - 17,835 88,273 106,108	- 3,861
				7,482
				222 542 - 783 871 22 3,176 1,533 - 11,213 1,600
				19,962
				720 - 3,370
				4,090

				67,836
				135,915 -
				30,445
				30,445 -
				30,445
				57,828
				88,273

Page 17