| Page | ||||
|---|---|---|---|---|
| Reference and administrative | details ofcharity, its trustees | and advisers | ||
| Trustees' report |
2-5 | |||
| Independent Auditors |
report | 6-8 | ||
| Statement offinancial | activities | |||
| Balance sheet | ||||
| Statement ofCash Flows | ||||
| Notes to the financial | statements | 12-23 |
FRIENDS OF VELLORE UK INDEPENDENT AUDITORS REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 Auditorfs responslbiliues for the audit of the financial ststements {contlnued) Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free trom material misstatement, whether due to fraud or error, and to issue an auditorfs report that indudes our opinion. Reasonable assurance is a high level of assumnce, but is not a guarantee that an audit conducted in &cordance with ISAS (UK) will always detect a material misslatemenl when il exist5. Misstatements can arise from fraud or error and are considered rnaterial if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of our respon5ibilitses for the audit of the finanaal statements is located on the Financial Reports"ng Council s websrte at.. httpS'.I.frQ.Qrg.Ukl0Ur-WorkJAUdlAUd1l-aftd-assvran¢e1sIar}dxrd$-8nd- guidancelstandards-and-guidance-for-8udilorslAudilors-responsibilities-for-audiVDescription-of-audilors- responsibililies-for-audit.aspx. This description forrns part of our audiloff s report. Use of report Thss report is made Solely lo the charity's trustees, as a body, in accordance Part 4 of the charities (Accounts gnd reports) regualtsons 2008. Our audit work has been undertaken so that we might stale to the charity's trustees those tnatters we are required to state lo them in an auditor's report and for no other PLFrpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, tor our audit work, for this report, or for the opinions we have formed. Chaler Allan LLP Chartered Accountants & Statutory Auditors 7 Quy Court Colliers Lane StOW-cum-Quy CB25 9AU Date. .la (k*rty a Chater Allan LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
| Note | Restricted | Unrestricted | Total | Total | |||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||
| 2021 f |
2021 | 2021f | 2020f | ||||
| INCOME FROM: | |||||||
| Donations and legacies |
1,674,779 | 80,255 | 1,755,034 | 235,721 | |||
| Investments | 50,791 | 13,421 | 64,211 | 27,636 | |||
| TOTAL INCOME | 1,725,570 | 93,676 | 1,819,245 | 263,357 | |||
| EXPENDITURE ON: | |||||||
| Raising funds | 2,559 | 5,054 | 7,613 | 8,517 | |||
| Charitable activity |
|||||||
| Advancement ofhealthcare |
and | ||||||
| development in India |
6,7 | 416,440 | 17,031 | 433,471 | 247,010 | ||
| TOTAL EXPENDITURE | 418,999 | 22,085 | 441,084 | 255,527 | |||
| NET INCOME / (EXPENDITURE) BEFORE |
|||||||
| INVESTMENT GAINS/(LOSSES) | 1,306,571 | 71,590 | 1,378,161 | 7,829 | |||
| Net gains/(losses) on investments |
68,004 | 38,821 | 106,825 | (64,900) | |||
| NET (EXPENDITURE) | / INCOME BEFORE | 1,374,575 | 110,411 | 1,484,986 | (57,071) | ||
| TRANSFERS | |||||||
| Transfers between funds |
14 | 10,157 | (10,157) | ||||
| NET MOVEMENT IN FUNDS |
1,384,732 | 100,254 | 1,484,986 | (57,071) | |||
| RECONCILIATION OF |
FUNDS: | ||||||
| Total funds at 1 January | 2021 | 416,785 | 290,493 | 707,278 | 764,349 | ||
| TOTAL FUNDS AT 31 | DECEMBER 2021 | 1 801 517 | 390 747 | 2 192284 | 707 278 |
| BALANCE SHEET | |||||||
|---|---|---|---|---|---|---|---|
| AS | AT 31 DECEMBER 2021 | ||||||
| Note | 2021 | 2020 | |||||
| FIXEDASSETS | |||||||
| Tangible assets | 10 | 114 | 242 | ||||
| Investments | 11 | 1,795,355 | 652,026 | ||||
| 1,795,469 | 652,268 | ||||||
| CURRENT | ASSETS | ||||||
| Debtors | 12 | 281,052 | 8,407 | ||||
| Cash at bank and | in hand | 121,227 | 47,978 | ||||
| 402,279 | 56,385 | ||||||
| Liabilities | |||||||
| Creditors: amounts | falling due | ||||||
| one year | 13 | 5,484 | 1,375 | ||||
| NET CURRENT ASSETS | 396,795 | 55,010 | |||||
| NET ASSETS | 2,192 282 | 787278 | |||||
| CHARITY | FUNDS | ||||||
| Restricted | funds | 14 | 1,801,517 | 416,785 | |||
| Unrestricted | funds | 14 | 390,747 | 290,493 | |||
| TOTAL FUNDS | 2,192,264 | 787,278 |
| Note | 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|---|
| E | f | |||||||
| Cash used in operating | activities | 1,083,239 | 4,462 | |||||
| Cash flows from investing | activities: | |||||||
| Purchase oftangible assets |
(60) | |||||||
| Purchase of investments |
(1,010,000) | (30,000) | ||||||
| Sale of investments | 10 | |||||||
| Net cash provided by/(used |
in) investing | activities | (1,009,990 | (30,060) | ||||
| Change in cash and cash equivalents |
in | the | reporting | 2 | 73,249 | (25,598) | ||
| period | ||||||||
| Cash and cash equivalents at the beginning |
ofthe | |||||||
| reporting period |
47,978 | 73,576 | ||||||
| Cash and cash equivalents at the end |
of | the | reporting | |||||
| period | 121,227 | 47,978 | ||||||
| Notes to Cash flow statement | ||||||||
| 1.Reconciliation of net |
income for the | year | to net cash | flow from operating | activities | |||
| Net movement in funds |
1,484,986 | (57,071) | ||||||
| Adjustments for: |
||||||||
| Depreciation charges |
128 | 108 | ||||||
| Dividends and interest from investments |
(26,514) | |||||||
| Investment administration |
fees | 3,093 | ||||||
| Loss/(Gains) on investments |
(106,825) | 64,901 | ||||||
| Decrease/(Increase) in debtors |
(272,645) | (4,557) | ||||||
| (Decrease)/Increase in creditors |
4,109 | (2,012) | ||||||
| Net cash inflow (oufflow) | from | operating | activities | 1,083,239 | 4,462 | |||
| 2.Analysis ofcash and | cash | equivalents | ||||||
| At 1 | At 31 | |||||||
| January | Cash | December | ||||||
| 2021 | flowf | 2021f | ||||||
| Cash at bank and in hand |
47,978 | 73,249 | 121,227 | |||||
| 47,978 | 73,249 | 121,227 |
| 2. INCOM | E FROM DONATIONS | AND LEGACIES | |||||||
| Restricted | Unrestricted | Total | Total | ||||||
| funds | funds | funds | funds | ||||||
| 2021 | 2021 | 2021 | 2020 | ||||||
| E | 8 | E | 8 | ||||||
| Donations | 404,779 | 43,832 | 448,611 | 235,721 | |||||
| Legacies | 1,270,000 | 36,423 | 1,306,423 | ||||||
| Total donations | and legacies | 1,674 776 | 80255 | 1 755,034 | 235 721 | ||||
| 3.INVESTMENT | INCOIIIIE | ||||||||
| Restricted | Unrestricted | Total | Total | ||||||
| funds | funds | funds | funds | ||||||
| 2021 | 2021 | 2021 | 2020 | ||||||
| F | E | E | E | ||||||
| Bank 8 other interest receivable | 5 | 5 | 33 | ||||||
| Dividends | received - listed investments | 50,791 | 13,416 | 64,207 | 27,603 | ||||
| 50,791 | 13,421 | 64 | 211 | 27636 |
| 4.EXPENDITURE | 4.EXPENDITURE | ON RAISING FUNDS | ON RAISING FUNDS | ON RAISING FUNDS | ||||
|---|---|---|---|---|---|---|---|---|
| Restricted | Unrestricted | Total | Total | |||||
| funds | funds | funds | funds | |||||
| 2021 | 2021 f. |
2021 F |
2020f | |||||
| Newsletter | 666 | 1,755 | 2,421 | 2,780 | ||||
| Postage | 76 | 200 | 276 | 236 | ||||
| Publicity | 660 | 399 | 1,059 | 446 | ||||
| Salaries | 1,157 | 2,700 | 3,857 | 3,695 | ||||
| Investment management |
fees | 1,360 | ||||||
| 2558 | 5054 | 7513 | 8517 | |||||
| 5.GRANTS PAYABLE - | INSTITUTIONAL | |||||||
| Restricted | Unrestricted | Total | Total | |||||
| funds | funds | funds | funds | |||||
| 2021 | 2021 | 2021 | 2020 | |||||
| f | f | f | ||||||
| Person to Person | 40,000 | 40,000 | 40,000 | |||||
| Vellore Rural Communities | Trust | 11,983 | 11,983 | 14,779 | ||||
| VRCT Bishopston | Kuppam | Link | 3,046 | 3,046 | 3,541 | |||
| Tucker Children's | Fund | 10,000 | 10,000 | 5,030 | ||||
| Training Fund |
1,136 | 1,136 | 8,169 | |||||
| Low Cost Effective | Care Unit | 6,000 | 6,000 | |||||
| Palliative Care | 1,465 | 1,465 | 2,937 | |||||
| Palliative Families |
200 | 200 | 175 | |||||
| Jawadhi Hills |
13,033 | 13,033 | 10,675 | |||||
| Mission Fund | 16,870 | 16,870 | 2,926 | |||||
| Rehabilitation | 72 | 72 | 10,291 | |||||
| Ophthalmology | 10,240 | 10,240 | 10,000 | |||||
| Emergency Fund |
2,536 | 2,536 | 4,000 | |||||
| FOV Scotland | 3,000 | |||||||
| COVID-19 | 263,375 | 263,375 | 45,589 | |||||
| Alumni Projects |
13,894 | 13,894 | 38,000 | |||||
| Kannigapuram | 6,689 | |||||||
| Asha Kiran Society | 4,985 | |||||||
| Baptist Christian | Hospital | Tezpur | 7,750 | 7,750 | 17,585 | |||
| Kotagirl Medical Fellowship | 100 | 100 | ||||||
| Karigiri Hospital | 6, 122 | 6,122 | ||||||
| Subtotal | 407 822 | 407 822 | 228,371 |
| 6.GRANT EXPENDITURE | 6.GRANT EXPENDITURE | 6.GRANT EXPENDITURE | ON CHARITABLE | ON CHARITABLE | ACTIVITY BYF | UND TYPE | UND TYPE | ||
|---|---|---|---|---|---|---|---|---|---|
| Restricted | Unrestricted | Total | Total | ||||||
| funds | funds | funds | funds | ||||||
| 2021 | 2021 | 2021 | 2020 | ||||||
| 5 | 8 | E | 5 | ||||||
| Advancement | of | healthcare | and development | in India | |||||
| Person to Person | 40,000 | 40,000 | 40,000 | ||||||
| Vellore Rural Communities | Trust | 11,983 | 11,983 | 14,779 | |||||
| VRCT Bishopston | Kuppam | Link | 3,046 | 3,046 | 3,541 | ||||
| Tucker Children's | Fund | 10,000 | 10,000 | 5,030 | |||||
| Training Fund |
1,136 | 1,136 | 8,169 | ||||||
| Low Cost Effective | care Unit | 6,000 | 6,000 | ||||||
| Palliative Care | 1,465 | 1,465 | 2,937 | ||||||
| Palliative Families |
200 | 200 | 175 | ||||||
| Jawadhi Hills |
13,033 | 13,033 | 10,675 | ||||||
| Mission Fund | 16,870 | 16,870 | 2,926 | ||||||
| Rehabilitation | 72 | 72 | 10,291 | ||||||
| Ophthalmology | 10,240 | 10,240 | 10,000 | ||||||
| Emergency Fund |
2,536 | 2,536 | 4,000 | ||||||
| FOV Scotland | 3,000 | ||||||||
| COVID-19 | 263,375 | 263,375 | 45,589 | ||||||
| Alumni Projects |
13,894 | 13,894 | 38,000 | ||||||
| Kannigapuram | 6,689 | ||||||||
| Asha Kiran Society | 4,985 | ||||||||
| Baptist Christian | Hospital Tezpur | 7,750 | 7,750 | 17,585 | |||||
| Kotagirl Medical | Fellowship | 100 | 100 | ||||||
| 6,122 | 6 122 | ||||||||
| 407,822 | 407 822 | 22S,371 | |||||||
| 7.SUPPORT COSTS | |||||||||
| Restricted | Unrestricted | Total | Total | ||||||
| funds | funds | funds | funds | ||||||
| 2021 6 |
2021 E |
2021f | 2020 6 |
||||||
| Telephone | 66 | 175 | 241 | 238 | |||||
| Room hire costs | 57 | 151 | 208 | ||||||
| Travel and subsistence | 3 | 10 | 13 | 83 | |||||
| Bank charges | 186 | ||||||||
| Insurance | 96 | 253 | 349 | 330 | |||||
| IT software | 4 | 12 | 16 | ||||||
| Subscriptions | 148 | 390 | 538 | 474 | |||||
| Salaries | 4,147 | 11,283 | 15,430 | 15,031 | |||||
| Pensions | 212 | 560 | 772 | 749 | |||||
| Recruitment | 2,160 | 2,160 | |||||||
| Sundry expenses | 10 | 25 | 35 | ||||||
| Depreciation | 35 | 93 | 128 | 108 | |||||
| Professional fees |
120 | 120 | |||||||
| Governance; | |||||||||
| Independent examination |
60 | 180 | 240 | 1,440 | |||||
| Accountancy | 270 | 630 | 900 | ||||||
| Audit | 1,350 | 3,150 | 4 500 | ||||||
| 8,618 | 17,031 | 25,649 | 18,639 |
| Grant | |||||||
|---|---|---|---|---|---|---|---|
| funding of |
Support | ||||||
| activities | costs | Total | Total | ||||
| 2021 F |
2021 E |
2021 f |
2020 E |
||||
| Advancement | of | healthcare | and | ||||
| development | in | India | 407,822 | 25,649 | 433,471 | 247,010 | |
| 407,822 | 25,649 | 433,471 | 247,010 |
| 2021 | 2020 |
|---|---|
| 19,287 | 18,726 |
| 772 | 749 |
| 20,059 | 19,475 |
| 10.TANGIBLE | FIXEDASSE | TS | ||||
|---|---|---|---|---|---|---|
| Computer | ||||||
| Equipment | ||||||
| E | ||||||
| Cost | ||||||
| At 1 January 2021 | 585 | |||||
| Additions | ||||||
| Disposals | ||||||
| At 31 December | 2021 | 585 | ||||
| Depreciation | ||||||
| At 1 January 2021 | 343 | |||||
| Charge for the year | 128 | |||||
| On disposals | ||||||
| At 31 December | 2021 | 471 | ||||
| Net book value | ||||||
| At 31 December | 2021 | 114 | ||||
| At 31 December | 2020 | 242 | ||||
| 11. FIXEDASSETS INVESTMENTS | ||||||
| Market value | ||||||
| At 1 January 2021 | 652,016 | |||||
| Additions | 1,010,000 | |||||
| Net gains on revaluation | 106,825 | |||||
| Re-invested dividends |
26,514 | |||||
| Disposals | ||||||
| At 31 December | 2021 | 1 195 | 355 | |||
| Historical cost | 911 | 992 | ||||
| Investments at |
market value | comprise | ||||
| 2021 | 2020 | |||||
| f | 6 | |||||
| Listed Investments | 10 | |||||
| M8G Charifund | - Income Units | 1,014,232 | 652,016 | |||
| M8 G Charifund | -Accumulation | Units | 781,123 | |||
| 1,795,355 | 652,026 | |||||
| All the fixed asset investments | are held | in the UK | ||||
| 12. DEBTORS | 2021 | 2020 | ||||
| E | F | |||||
| Debtors and prepayments | 279,999 | 3,695 | ||||
| Tax recoverable | 1,053 | 4,712 | ||||
| 281 052 | 8,407 |
| Amounts falling d |
ue within | one year | ||||||
|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||||
| E | F | |||||||
| Creditors and accruals |
5,484 | 1,375 | ||||||
| 14.STATEMENT | OF FUNDS | |||||||
| Brought | Transfers | Gains/ | Carried | |||||
| forward | Income | Expenditure | in/(out) | (Losses) | forward | |||
| E | F | E | E | |||||
| Unrestricted | ||||||||
| funds | ||||||||
| General Funds |
290,493 | 93,676 | (22,085) | (10,157) | 38,821 | 390,747 | ||
| Brought | Transfers | Gains/ | Carried | |||||
| forward | Income | Expenditure | in/(out) | (Losses) | forward | |||
| f | 6 | F | E | E | ||||
| Restricted funds | ||||||||
| The Baker Fund | 1,302,152 | (890) | (14,366) | 14,232 | 1,301,128 | |||
| Person to Person | 10,440 | 15,322 | (41,524) | 14,366 | 1,396 | |||
| Vellore Rural Communities | Trust | 227,527 | 12,481 | (15,030) | (304) | 31,693 | 256,367 | |
| VRCT Bishopston- Kuppan |
Link | 2,742 | (3,046) | 304 | ||||
| Tucker Children's | Fund | 79,662 | 4,339 | (11,524) | 10,646 | 83,123 | ||
| Training Fund |
33,908 | 2,701 | (2,660) | 4,531 | 38,481 | |||
| Low Cost Effective Care Unit | 14,578 | 1,810 | (6,000) | 10,388 | ||||
| Palliative Care | 928 | (1,465) | 537 | |||||
| Palliative Families |
240 | (200) | 40 | |||||
| Jawadhi Hills |
16,520 | (15,701) | 819 | |||||
| Mission Fund |
40,737 | 7,228 | (16,870) | 5,506 | 36,600 | |||
| Rehabilitation | 216 | (72) | 144 | |||||
| Ophthalmology | 620 | (10,240) | 9,620 | |||||
| Emergency Fund |
2,636 | (2,536) | 100 | |||||
| FOV Scotland | 3,903 | 3,903 | ||||||
| COVID-19 | 323,313 | (263,375) | 59,938 | |||||
| Alumni Projects |
4,952 | 19,142 | (13,894) | 10,200 | ||||
| Nursing Alumni |
288 | 288 | ||||||
| Kannigapuram | ||||||||
| Baptist Christian | Hospital Tezpur | 1,000 | 6,750 | (7,750) | ||||
| Kotagiri Medical Fellowship | Hospital | 100 | (100) | |||||
| Karigiri Hospital | 80 | 6,042 | (6,122) | |||||
| 416,785 | 1,725,570 | ~(418,999 | 10,157 | 68,004 | 1,801,517 | |||
| Total offunds | 707,278 | 1,818,240 | ~441,0S4 | 106,825 | 2,192,264 |
| 15. ANALYSIS OF NET ASS | ETS BETWEEN | FUNDS | |||
|---|---|---|---|---|---|
| Restricted | Unrestricted | Total | Total | ||
| funds | funds | funds | funds | ||
| 2021 | 2021 | 2021 | 2020 | ||
| F | 6 | E | |||
| Tangible fixed assets |
114 | 114 | 242 | ||
| Fixed asset investments | 1,451,865 | 343,490 | 1,795,355 | 652,026 | |
| Current assets | 349,652 | 52,627 | 402,279 | 56,385 | |
| Creditors due within one year | (5,484) | (5,484) | (1,375) | ||
| 1,801,517 | 390,747 | 2,192,264 | 707,278 | ||
| 16. COMPARATIVES FOR THE STATEMENT | OF FINANCIAL | ACTIVITIES | |||
| Restricted | Unrestricted | Total | |||
| funds | funds | funds | |||
| 2020 | 2020 | 2020 | |||
| 6 | |||||
| INCOME FROM: | |||||
| Donations and legacies |
198,578 | 37,143 | 235,721 | ||
| Investments | 16,133 | 11,504 | 27,636 | ||
| TOTAL INCOME | 214,711 | 48,647 | 263,357 | ||
| EXPENDITURE ON: | |||||
| Raising funds | 2,526 | 5,991 | 8,517 | ||
| Charitable activity |
|||||
| Advancement of healthcare |
and | ||||
| development in India |
233,154 | 13,856 | 247,010 | ||
| TOTAL EXPENDITURE | 235,680 | 19,847 | 255,527 | ||
| NET INCOME / (EXPENDITURE) BEFORE |
|||||
| INVESTMENT GAINS/( LOSSES) | (20,970) | 28,800 | 7,830 | ||
| Net gains/(losses) on investments |
~30,640) | ~3426)) | ~64,900 | ||
| NET EXPENDITURE BEFORETRANSFERS | (51,610) | (5,461) | (57,071) | ||
| Transfers between funds |
18,627 | (18,627) | |||
| NET MOVEMENT IN FUNDS |
~(32,983 | (24,088) | ~67,071) |