Charity Registration Number 243443
MAHARASHTRA MANDAL LONDON
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020
1
MAHARASHTRA MANDAL LONDON
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Rajeev Subhedar Nina Joshi Prerena Phadnis Manik Bapat Anand Gadre Charity Number 243443 Principle Address 306 Dollis Hill Lane London NW2 6HH Independent Examiner Haines Watts London LLP New Derwent House 69 – 73 Theobalds Road London WC1X 8TA
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MAHARASHTRA MANDAL LONDON
CONTENTS
| Page | |
|---|---|
| Trustees Report | 4-6 |
| Statement of trustee’s responsibilities | 7 |
| Independent examiners report | 8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 |
| Notes to the financial Statements | 11-19 |
3
MAHARASHTRA MANDAL LONDON
TRUSTEE’S REPORT
FOR THE YEAR ENDED 31 OCTOBER 2020
The trustees present their report and financial statements for the year ended 31 October 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity’s governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective 1 January 2019)
Objectives and activities
The Charity objects are:
To advance education in Marathi culture, language, music, dance and art amongst Marathi speaking people their spouses and descendants (hereinafter referred to as Maharashtrians) in the United Kingdom through the provision of a centre, library, exhibitions, displays and other facilities and activities.
To advance religion amongst Maharashtrians.
To preserve and protect good health and to relieve sickness and poverty amongst Maharashtrians.
To do all such activities that will help Maharashtrians to integrate with British culture and society such that Maharashtrians are benefited by best of both cultures and make their living in United Kingdom a fulfilling journey. Such activities may not be traditional Maharashtrian but in the spirit of aforesaid object could cover activities like Sports Club, Education courses, celebration of British national days and so on. This list is not exhaustive and may cover activities that are in the spirit of mutually beneficial cultural co-existence without being prejudicial to Maharashtrian or Marathi culture.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The trustees of the charity are also common trustees of Maharashtra Mandal UK Ltd, an incorporated charity with same charitable objective’s as Maharashtra Mandal London.
Achievements and performance
COVID-19 Pandemic lockdown severely affected organizing cultural events and activities at the Mandal Hall. Ganeshotsav was celebrated in the Mandal with the limited members at the hall and was shown online watched by many members. EC successfully managed this event efficiently coping with the technological challenges. Before the lockdown Diwali Dinner and dance was held in November 2019 and Republic day was celebrated in January 2020.
The Mandal donated £2,100 to Seva Trust UK. Their volunteers were supplying emergency cooked food packs and groceries to the young Indian students including Maharashtrian students, trapped in the UK due to the outbreak of the Coronavirus outbreak. The President of the MML and EC has also supported students to return to India by giving them information, advising, and liaising with the Indian High Commission. A poster was designed about Maharashtra Mandal London and our aims and objectives with links to our website. This poster has been uploaded by Seva Trust UK to their Facebook page thus raising awareness of MML and our work.
It has been a difficult year due to Coronavirus as Mandal's fundraising activities have been greatly affected. However, efforts have been made to apply for funds through grants from funding providers, despite huge competition from other charities. The funding is required to carry out essential repair and maintenance work for Mandal's building.
This year a new payment system i-Zettle has been introduced and implemented for accepting card payments across the counter. Extension of G-suite for EC is still outstanding. Similarly, handover of mandal's Instagram and Twitter account is also pending. The mandal's members database and event management solution "Webcollect" has been integrated with the website and members have been advised to create their personal log in credentials.
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MAHARASHTRA MANDAL LONDON
TRUSTEE’S REPORT
FOR THE YEAR ENDED 31 OCTOBER 2020
At the time of the initial compilation of this report, 36 members had created their log in credentials Web collect links for membership and donations will be integrated with MML website. It will replace the current functionality available on the website. With Webcollect, now members/donors will be able to process payment using debit/card online in addition to the existing payment methods such as PayPal. These changes will enable the members to manage their own account details themselves if they wish to do so. Trupti (Anita) Bapat, Data Protection and Privacy Policy Partner at Kemp Little LLP has provided informal advice on the sharing of MML databases for MMUKL and vice versa. According to her, our joint use and sharing of data is lawful and she will be providing information on steps to be taken to support this, including documentation.
PR/Communication:
BoT has sent communication to address clarifications required by some members on the relationship between MML and MMUKL. Vishwa Marathi Parishad has approached the mandal for collaboration to support 3 days of Vishwa Marathi Sammelan scheduled during January 2021. As a part of this, a YouTube event "Zende Atakepar" was recorded by the PR sub-committee formed for the purpose and it was subsequently shared by Vishwa Marathi Parishad as a part of their initiative "Zende Atakepar''.
Mandal’s logo is now registered as a Trademark with the Intellectual Property Office. This will enable the Mandal to raise valid objection for the misuse of our logo for unauthorised purposes.
Strategy Review project
Lockdown has brought home some facts about challenging times and their impact on our organisation. How we respond and prepare for such times has become a crucial consideration. It has also given us time for reflection and generated the urgency to take next steps towards keeping our Mandal well and thriving especially for the second and third generation of Maharashtrians in the UK. To this effect the Bot has initiated a “strategy review project. The aim is twofold.
-
To review the medium to long term strategy of our Mandal. This project has started and firstly we have launched a survey to be completed by our members, prospective members, young Maharashtrians in the UK, to find out how we could improve and remain relevant in the future. The feedback will be analysed to inform our direction. We are also talking to other Marathi Mandal’s in the UK and abroad to adopt best practice and work more collaboratively.
-
To review what improvements can be made to our short-term functioning, marketing, financial stability, productivity as well as our building. This may include quality assurance and training for the management team. As a charity we are also looking to measure the social impact we make, how many people benefit from our services and how we are trying to keep Marathi culture alive and allowing our Arts and traditions to flourish. This area may be added to our website to demonstrate our work. The results of the survey and findings will be presented to our members at the next AGM once completed. We can then take steps towards bringing positive change to our organisation to keep it relevant and serve our members better.
We have received a donation of £1,000 from Mr Pathak towards the Strategy Review Project.
The trustees are satisfied that all the achievements in the year are in line with the charity aims and objectives.
Financial review
The results for the year are set out in accompanying financial statements.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three to six month’s expenditure. The trustees consider that reserves at this level will ensure that in the event of a significant drop in funding, they will be able to continue the charity’s current activities while considering ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risk.
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MAHARASHTRA MANDAL LONDON
TRUSTEES REPORT
FOR THE YEAR ENDED 31 OCTOBER 2020
Structure, governance, and management
The charity was established by a charitable trust deed dated 9[th] February 1963. The constitution of the charity was amended and filed with the Charity Commission dated 16[th] March 2013. The organisational structure of the charity is divided into two parts i.e. Executive Committee (EC) and he Board of Trustees (BOT)
The EC is responsible for the management and administration of the day to day running of the business of the Charity. The EC is led by the President together with a few members who are elected on a periodic basis.
The BOT are responsible for overseeing the finances, investments, and custody of the Charity’s property. The BOT is led by a chairman and consists of minimum of four and maximum of six trustees duly appointed under the provisions of charity constitution. One of the trustees is appointed as Finance Trustee. In addition, the president of the EC acts as ex-officio voting member of the BOT.
A Nomination committee is appointed who are responsible to scout for the appropriate trustee candidates and after interviewing them and depending on their qualifications, experience and commitment invite them to join the board of trustees. After the incumbent has accepted the invitation the nomination committee then recommend them to the General Body for their approval of trustee appointment in the members Annual General Meeting. Current members of the Board of Trustees were invited to become the trustees at the Annual General Meeting held on 30[th] March 2019. All current trustees accepted the invitation to become trustee of the charity.
None of the trustees have beneficial interest in the Charity. The trustees are also common trustees in the charitable company Maharashtra Mandal UK LTD (MMUKL) limited by guarantee which has similar objectives as this charity.
The EC members were elected at the Annual General Meeting held on 30th March 2019
All members of the Maharashtra Mandal London are also members of Maharashtra Mandal UK LTD.
Public benefit
The trustees have complied with their duty in section 17 of the Charities Act 2011 to have due regard to the guidance published by the Charity Commission.
Volunteers
We would like to thank all our volunteers for their hard work and commitment throughout the year in the running of various activities and cultural programmes and look forward to their continuous support in the future.
The trustees report was approved by the Board of Trustees.
Mr Anand Gadre
Finance Trustee
Dated : 30[th] March 2021
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MAHARASHTRA MANDAL LONDON
STATEMENT OF TRUSTEE’S RESPONSIBILITIES
FOR THE YEAR ENDED 31 OCTOBER 2020
The trustees are responsible for preparing the Trustee’s Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Generally Accepted Accounting Practice)
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the affairs of the charity and of the incoming resources and application of resources of the charity for that year.
In preparing these financial statements, the trustees are required to:
-select suitable accounting policies and then apply them consistently.
-observe the methods and principles in the Charities SORP.
-make judgements and estimates that are reasonable and prudent.
-state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose at any time the financial position of the charity with reasonable accuracy and enable them to ensure that the financial statements comply with the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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MAHARASHTRA MANDAL LONDON
INDEPENDENT EXAMINER’S REPORT
TO THE TRUSTEES OF MAHARASHTRA MANDAL LONDON
I report to the trustees on my examination of the financial statements of Maharashtra Mandal London (the charity) for the year ended 31 October 2020.
Responsibilities and basis of the report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011(the 2011 Act)
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act
Independent examiner’s statement
I have carried out my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act or
-
2 the financial statements do not accord with those records: or
-
3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities(Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not 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.
Jane Wills
Independent examiner
Haines Watts London LLP
New Derwent House
69 – 73 Theobalds Road
London WC1X 8TA
Dated :
8
MAHARASHTRA MANDAL LONDON
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31ST October 2020
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | ||||
| 2020 | 2020 | 2020 | 2019 | ||
| Notes | |||||
| Income from: | |||||
| Donations and legacies | 3 | 20,428 | 0 | 20,428 | 34,684 |
| Income from charitable | |||||
| activities | 4 | 6,079 | 0 | 6,079 | 8,335 |
| Investments | 5 | 30 | 2 | 32 | 46 |
| ---------------------------------------------------------------------------------- | |||||
| Total Income | 26,537 | 2 | 26,539 | 43,065 | |
| ---------------------------------------------------------------------------------- | |||||
| Expenditure on: | |||||
| Charitable activities cost | 6 | 9,989 | 1,000 | 10,989 | 62,869 |
| ---------------------------------------------------------------------------------- | |||||
| Net (expenditure)/Income for the year/ | |||||
| Net movement in funds | 16,548 | (998) | 15,550 | (19,804) | |
| Fund balances as at 1st November 2019 | 132,300 | 5,009 | 137,309 | 157,113 | |
| ---------------------------------------------------------------------------------- | |||||
| Fund balances as at 31st October 2020 | 148,848 | 4,011 | 152,859 | 137,309 | |
| =============================================== |
The statement of financial activities includes all gains and losses recognised in the year
All income and expenditure derive from continuing activities
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MAHARASHTRA MANDAL LONDON
BALANCE SHEET
AS AT 31 OCTOBER 2020
| 2020 | 2020 | 2019 | 2019 | |||
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||
| Notes | ||||||
| Fixed Assets: | ||||||
| Tangible Assets | 10 | --- | 140 | |||
| Current Assets | ||||||
| Debtors | 11 | 550 | 1,245 | |||
| Cash at bank and in hand | 154,438 | 142,158 | ||||
| ------------------- | -------------- | |||||
| 154,988 | 143,403 | |||||
| Creditors: amounts falling due within | ||||||
| one year | 12 | 2,129 | 6,234 | |||
| ------------------- | -------------- | |||||
| Net current assets | 152,859 | 137,169 | ||||
| --------------- | --------------------- | |||||
| Total assets less current liabilities | 152,859 | 137,309 | ||||
| ========= | ============ | |||||
| Income funds | ||||||
| Restricted funds | 13 | 4,011 | 5,009 | |||
| Unrestricted funds | ||||||
| General and Designated | 14 | 148,848 | 132,300 | |||
| ------------------ | --------------------- | |||||
| 152,859 | 137,309 | |||||
| =========== | ============ |
The financial statements were approved by the board of trustees and authorised for issue on 30th March 2021 and were signed on its behalf by
Anand Gadre
Finance Trustee
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MAHARASHTRA MANDAL LONDON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] OCTOBER 2020
1 Accounting Policies
Charity Information
Maharashtra Mandal, London meets the definition of a public benefit entity under FRS 102
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity’s government document, the Charities Act 2011 and “Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102” (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102 The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice, which is referred to in the Regulations, but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements are prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going Concern
The financial statements have been prepared on a going concern basis. The trustees have reviewed and considered relevant information, including future cash flows in making their assessment. The Trustees have taken in to account the impact on their business of possible scenarios brought on by the Impact of Covid 19 alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions and the current resources available the Trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.
1.3 Charitable funds
Unrestricted funds are available to use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Incoming Resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under the Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Membership income is recognised upon receipt.
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MAHARASHTRA MANDAL LONDON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] OCTOBER 2020
1.5 Resources expended
All Expenditure is accounted for on an accrual basis. All expenses, including support costs and governance costs, are allocated to the charitable activity in the statement of financial activities.
Governance costs comprise all costs involving the public accountability of charity and its compliance with regulation and good practice.
1.6 Tangible Fixed Assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised to write off the cost or valuation of assets less their residual values over their useful lives on the following basis
Fixtures and fittings 33.33% per annum on a straight-line basis
The gain or loss on disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the net income/(expenditure) for the year.
1.7 Impairment of Fixed Assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated to determine the extent of the impairment loss (if any)
Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whether there is an indication that the asset may be impaired.
1.8 Cash and Cash Equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank Overdrafts are shown within borrowings in current liabilities.
1.9 Financial Instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all its financial instruments.
Financial Instruments are recognised in the charity’s balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic Financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets are classified as receivable within one year are not amortised
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MAHARASHTRA MANDAL LONDON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] OCTOBER 2020
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate if interest, Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as noncurrent liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised costs using the effective interest method.
Derecognition of financial liabilities
Financial Liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experiences and other factors that relevant. Actual results may differ from these estimates. The estimates and assumptions are reviewed on ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Donations and legacies | ||
|---|---|---|
| Unrestricted | Unrestricted | |
| funds | funds | |
| 2020 | 2019 | |
| £ |
£ | |
| Ganesh Festival Donations | 10,039 | 20,616 |
| General Donations | 1,242 | 1,102 |
| Building Fund Donations | 2,154 | 2,288 |
| Scholarship Donations |
- |
1,000 |
| Membership Fees |
1,135 | 3,550 |
| Gift aid received | 5,858 | 6,128 |
| ------------ | ------------ | |
| 20,428 | 34,684 | |
| ====== | ======= |
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MAHARASHTRA MANDAL LONDON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] OCTOBER 2020
| 4 | Income from charitable activities | |||
|---|---|---|---|---|
| Unrestricted Unrestricted | ||||
| Funds | Funds | |||
| 2020 | 2019 | |||
| £ | £ | |||
| Sponsorships income | 2,236 | 1,500 | ||
| Event related activities | 2,873 | 6,459 | ||
| Advertisement income | 925 | 125 | ||
| Ganesh festival other income | 45 | 251 | ||
| --------- | -------- | |||
| 6,079 | 8,335 | |||
| ===== | ====== | |||
| 5 | Investment Income | |||
| Unrestricted Restricted Total | Total | |||
| Funds Funds Funds Funds | ||||
| Bank Interest |
30 2 32 | 46 | ||
| == == == | == | |||
| 6 | Charitable activities costs | |||
| Unrestricted Funds | ||||
| 2020 | 2019 | |||
| £ | £ | |||
| Event related activities | 2,254 | 4,914 | ||
| Ganesh Festival Expenses | 4,470 | 13,587 | ||
| Scholarship awards | - | 1,000 | ||
| Donations to Maharashtra Mandal UK Ltd | - | 40,000 | ||
| Donation to Seva Trust UK | 1,100 | -- | ||
| ------------ | ---------- | |||
| 7,824 | 59,501 | |||
| Share of support and Governance Costs (see note 7) | 2,165 |
3,368 | ||
| ------------ | --------- | |||
| 9,989 | 62,869 | |||
| ====== | ====== | |||
| Restricted Funds | ||||
| Donation to Seva Trust | 1,000 | -- | ||
| ====== | ====== |
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MAHARASHTRA MANDAL LONDON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] OCTOBER 2020
7 Support and Governance Costs
Unrestricted Funds
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Support Costs | ||
| Depreciation | 140 | 140 |
| Printing, postage and stationery | 375 | 776 |
| Librarian | - | 420 |
| Licence Fee | - | 180 |
| Bank Charges | 790 | 945 |
| Intern Re Strategy Project | 400 | - |
| Sundry Expenses |
(190) | 407 |
| Governance Cost | ||
| Accountancy | 650 | 500 |
| ----------- | ---------- | |
| 2,165 | 3,368 | |
| ====== | ====== |
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year
9 Employees
There were no employees during the year
10 Tangible Assets
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Cost brought forward | 12,748 | 12,748 |
| Additions | 0 | 0 |
| ----------- | --------- | |
| Costs at year end | 12,748 | 12,748 |
| --------- | ---------- | |
| Depreciation brought forward | 12,608 | 12,468 |
| Depreciation charged in the year | 140 | 140 |
| ---------- | ---------- | |
| Depreciation at year end | 12,748 | 12,608 |
| --------- | ---------- | |
| Net Tangible Assets | - | 140 |
| ====== | ====== |
15
MAHARASHTRA MANDAL LONDON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] OCTOBER 2020
| 11 | Debtors | ||
|---|---|---|---|
| 2020 | 2019 | ||
| Amounts falling due within one year | £ | £ | |
| Other Debtors | 550 | 1,245 | |
| ==== | ==== | ||
| 12 | Creditors | ||
| 2019 | 2018 | ||
| Amounts falling due within one year | £ | £ | |
| Deferred Income | - | 1,472 | |
| Other Creditors | - | 4,041 | |
| Accruals | 2,129 | 721 | |
| -------- | -------- | ||
| 2,129 | 6,234 | ||
| ===== | ===== |
13 Restricted Funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes.
| Movement | |||
|---|---|---|---|
| in Funds | |||
| Balance | Incoming | Balance | |
| At 01.11.2019 | Resources At 31.10.2020 | ||
| Anuj Bidwe Memorial Fund | 5,009 |
(998) | 4,011 |
| ===== |
======= | ===== | |
| Net Movement in Funds included in above are as follows. | |||
| Incoming | Resources | Movement | |
| resources | expended | in Funds | |
| Anuj Bidwe Memorial Fund | 2 |
(1000) | (998) |
| ====== | ====== | ===== | |
| Comparatives for movement in funds | |||
| Movement | |||
| in Funds | |||
| Balance | Incoming | Balance | |
| At 01.11.2018 | Resources At 31.10.2019 | ||
| Anuj Bidwe Memorial Fund | 5,006 |
3 | 5,009 |
| ===== |
======= | ===== | |
| Net Movement in Funds included in above are as follows. | |||
| Incoming | Resources | Movement | |
| resources | expended | in Funds | |
| Restricted Funds | |||
| Anuj Bidwe Memorial Fund | 3 |
- | 3 |
| ====== | ====== | ===== |
16
NOTES TO THE FINANCIAL STATEMENTS
MAHARASHTRA MANDAL LONDON
FOR THE YEAR ENDED 31[ST] OCTOBER 2020
Current Year 12 months and prior year12 months combined position are as follows.
| Balance | Net Movement | Balance | ||
|---|---|---|---|---|
| At 01.11.2018 | In Funds | At 31.10.2020 | ||
| Anuj Bidwe Memorial Fund | 5,006 |
(995) -- 4,011 | ||
| ====== | ====== | ===== | ||
| A Current Year 12 months and prior year12 months combined | net movement in funds, included in above are | |||
| as follows. | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in Funds | ||
| Anuj Bidwe Memorial Fund | 5 |
(1,000) | (995) | |
| ====== | ====== | ======= | ||
| 14 | Unrestricted Funds | |||
| Balance | Net Movement | Balance | ||
| At 01.11.2019 | in Funds | At 31.10.2020 | ||
| Total General and Designated Funds | 132,300 | 16,548 | 148,848 | |
| ====== | ======= | ======= | ||
| Net Movement in Funds included in above are as follows. | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in Funds | ||
| Total General and Designated Funds | 26,537 | (9,989) | 16,548 | |
| ====== | ====== | ======= | ||
| Comparatives for movement in funds | ||||
| Balance | Net Movement | Balance | ||
| At 01.11.2018 | In Funds | At 31.10.2019 | ||
| Total General and Designated Funds | 152,107 | (19,807) | 132,300 | |
| ====== | ====== | ======= | ||
| Comparative Net Movement in Funds included in above are as follows. | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in Funds | ||
| Unrestricted Funds | ||||
| Total General and Designated Funds | 43,062 |
(62,869) | (19,807) | |
| ====== | ====== | ======= | ||
| A Current Year 12 months and prior year12 months combined | position are as | **follows. ** | ||
| Balance | Net Movement | Balance | ||
| At 01.11.2018 | In Funds | At 31.10.2020 | ||
| Unrestricted Funds | ||||
| Total General and Designated Funds | 152,107 | (3,259) | 148,848 | |
| ====== | ====== | ======= |
17
MAHARASHTRA MANDAL LONDON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] OCTOBER 2020
A Current Year 12 months and prior year12 months combined net movement in funds, included in above are as follows.
| as follows. | |||
|---|---|---|---|
| Incoming | Resources | Movement | |
| resources | expended | in Funds | |
| Unrestricted Funds | |||
| General and Designated Funds | 69,599 |
(72,858) | (3,259) |
| ====== | ====== | ======= |
15 Comparatives for Statement of financial activities
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| Funds | Funds | Funds | ||
| Income | ||||
| Donations and Legacies | 34,684 | - | 34,684 | |
| Income from Charitable Activities | 8,335 | - | 8,335 | |
| Investments | 43 | 3 | 46 | |
| ----------- | -------- | ----------- | ||
| 43,602 | 3 | 43,065 | ||
| Expenditure on Charitable Activities | 62,869 | - | 62,869 | |
| ----------- | -------- | ----------- | ||
| Net Income (Expenditure) | (19,807) | 3 | (19,804) | |
| Funds Brought Forward | 152,107 | 5,006 | 157,113 | |
| ------------ | --------- | ----------- | ||
| Funds Carried Forward | 132,300 | 5,009 | 137,309 | |
| ======= | ===== | ======= | ||
| 16 | Analysis of net assets between funds | |||
| Unrestricted Restricted | Total |
Total | ||
| Funds Funds | Funds | Funds | ||
| 2020 2020 | 2020 | 2019 | ||
| Fixed Assets | 140 | |||
| Current Assets | 150,977 4,011 | 154,988 | 143,403 | |
| Current Liabilities | (2,129) - | (2,129) | (6,234) | |
| ------------ -------- | ------------- | ------------ | ||
| 148,848 4,011 | 152,859 | 137,309 | ||
| ======= ===== | ======== | ======= |
18
MAHARASHTRA MANDAL LONDON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] OCTOBER 2020
17 Related Party Transactions
The trustees of the charity are also common trustees of Maharashtra Mandal UK Limited (MMUKL) an incorporated charity with same charitable objectives as Maharashtra Mandal London
During the year a sum of £ NIL (2019 - £40,000) was paid as a donation to MMUKL
Under the new SORP effective 2019 unrestricted donations made by the trustees need to be reported as related party transactions consequently the donations received from the trustees during the year were £2,991 (2019 - £1,979)
19