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2022-10-31-accounts

Charity number: 243443

Maharashtra Mandal London

Unaudited

Trustees' report and financial statements

For the Year Ended 31 October 2022

Maharashtra Mandal London

Contents

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 18

Maharashtra Mandal London

Reference and administrative details of the Charity, its Trustees and advisers For the Year Ended 31 October 2022

Trustees Govind Shankar Kanegaonkar, Chairman (appointed 18 June 2022) Vaibhav Ramesh Khandge, Trustee (appointed 18 June 2022) Pradeep Vishwanath Mohile, Trustee (appointed 18 June 2022) Sushil Waman Gaikwad, Trustee (appointed 18 June 2022) Vasant P Ranade, Trustee (appointed 18 June 2022)

Charity registered number 243443 Principal office 306 Dollis Hill Lane London NW2 6HH Accountants Mantax Lynton Chartered Accountants Suite 207 Equitable House 7 General Gordon Square London SE18 6FH

Page 1

Maharashtra Mandal London

Trustees' report For the Year Ended 31 October 2022

The Trustees present their annual report together with the financial statements of the Maharashtra Mandal London for the 1 November 2021 to 31 October 2022.

Objectives and activities

a. Policies and objectives

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

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 thatMaharashtrians 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

b. Strategies for achieving objectives

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 directors of Maharashtra Mandal UK Ltd, an incorporated charity with same charitable objective’s as Maharashtra Mandal London.

Achievements and performance

a. Main achievements of the Charity

The Mandal was able to operate normally after Covid restrictions. Ganeshotsav was celebrated in the Mandal for the full 10 days event. The EC successfully managed this event efficiently coping with vast numbers of people. Diwali Dinner and dance was held in November 2021 and Gudhi Padwa and Dusshera was celebrated. The total donations generated including gift aid were £12,459. During the year, The Mandal decided to donate £31,000 to Maharashtra Mandal UK Ltd and the funds were transferred after the year end.

Page 2

Maharashtra Mandal London

Trustees' report (continued) For the Year Ended 31 October 2022

Achievements and performance (continued)

b. Fundraising activities and income generation

Our Fundraising Trustee has been very active in the campaign for raising c£425,000 for the freehold purchase of Dollis Hill and activities continued throughout the year. Special efforts were made to meet visitors on one-to-one basis requesting to become members and donate for building fundraising. Donation appeals have been prepared and sent to members and given to non members too. Telephone calls were made and what's app messages and emails were sent to members. Also the Executive Committee has worked closely with the Fundraising Trustee to co-ordinate fundraising activities and efforts.

Senior Citizens Club (SCC) met every Wednesday. Various programmes such as singing, lectures on health and singing competitions were organised by SCC.

Other events included a badminton tournament, cricket tournament, participation in High Commission of India events and an organ donation workshop also took place.

c. IT and Communication

Post balance sheet date, the Xero accounting software system has been implemented bringing MML’s finance system up to date. Plans are in hand to update the membership system, gift aid and website software.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

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.

c. Principal risks and uncertainties

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.

Page 3

Maharashtra Mandal London

Trustees' report (continued) For the Year Ended 31 October 2022

Structure, governance and management

a. Constitution

Maharashtra Mandal London is a registered charity, number 243443, and is constituted under a Trust deed dated 9th February 1963.

The constitution of the charity was amended and filed with the Charity Commission dated 16th March 2013. The organisational structure of the charity is divided into two parts i.e. Executive Committee (EC) and the Board of Trustees (BOT).

The EC is responsible for the management and administration of the day to day running of the business of hte charity. The EC is led by the Presidnet together with a few members who are elected on a periodic basis.

The BOT is responsible for overseeing the finances, investments and custody of 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 cimmitment 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. Four current members of the Board of Trustees were invited to become the Trustees at the Annual General Meeting held on 18 June 2022 and the fifth Trustee at the Annual General Meeting held on 1 April 2023. All current trustees accepted the invitation to become trustee of the charity.

None of the trustees have beneficail interest in the Charity. The trustees are also common trustees in the charitable company, Maharashtra Mandal UK Ltd (MMUKL), a limited by guarantee company, which has similar objectives as this charity.

The EC members were elected at the Annual General Meeting held on 1 April 2023

All members of Maharashtra Mandal London are also members of MMUKL.

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.

90 Years

And finally, but not least, in October 2022 we celebrated our 90 years of successful functioning and many of our longest and most loyal members attended. They all enjoyed a program of special performances and recitals put on by artistes and performers at Maharashtra Bhavan. We have come a long way in that time and some of those members have been around for about half of that time! Jai Maharashtra Mandal London!

b. Financial risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Page 4

Maharashtra Mandal London

Trustees' report (continued) For the Year Ended 31 October 2022

Statement of Trustees' responsibilities

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

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, 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.

Approved by order of the members of the board of Trustees on 9 October 2023 and signed on their behalf by:

Pradeep Mohile Finance Trustee

Page 5

Maharashtra Mandal London Independen¢ examinevs report For Iho Year Ended 31 October 2022 Independent •xamin•rfs report to the Trt￿ of Maharashlra Mandal London Ilhe Chavw) I rep)rt to the eh•rty Tru8tea$ on my exanlnaticn of the accounts of the Charity for the eTrJed 31 Otttober 2022. Responsibilrties and basis of report As the Trustees of the Chavity you a￿ responslble for th8 weparalth of the accounts in aC￿dance ¥￿th the requirements of the Charllles Act 2011 rthe 2011 Acy). I report in respect of my examlnalh)n of the Charitvs atr￿unts Ixrrled out under seclon 145 of the 2011 A¢1 and in canyng out my examnat6on I have followed the aFplicable Directton8 glven by the Charity Commi3slon under 5eclNJn 145{51(b) of the 2011 Act. Indwjendgnl examlngrfs ststem•nt Y￿Jr attentson is drawn to the fact that the Charty has prepared the accijunts In accordance with A￿ntIng aTr Reportlng by CharSties: Stslement of Reo)mmended Practice appllcable to charities preparfng their accounts in acrudance ￿th the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102) in preferen￿ to the AcC(￿nItrO and Reportlng by Charoties." Statemènt of Re￿mmended Practice is8ued on 1 April 2WS which is referred to in the extant r8gulalion$ but ha$ ten withdtawn. l Unde￿tand that thi8 has been ¢Jne in order for the accounts to Fwwde a true and fair view in acL>ydance wllh the Generalty Aceepted AceA)untirKJ Practice effective for reporting period8 beginning on or after 1 January 2015. I have wmpl8led my examln8tion. I confirni that no matters have come to my attentDn in ccmnection wKh the exanNnatKJn givlng me cause to bellev8 that in any material respect: accounti￿ re￿rdS were not kept In respect of the Charlty 88 requlred by sedion 130 of the 2011 AL*., or the accounts do rnt ac￿)rd wth those rec¢xd8', or the accounts do not wtywly vAth the applicable requirements ¢orKemlng the form and content of accounts sel out In the Chartties (A¢¢<yJnts and Reports) RegulalK)ns 2008 other than any requirement th81 the accrmjnts give a 'lrue and foiv vw which ro not a matter considered as part of an lThlependent examlnath)n. I have r¥) concemB and have come across rK) other n￿lter8 in connectbn wi¢h the examination to whlth attentlon should ￿ drawn in this report in ord8r lo enable a proper unde￿landing of the accounts lo be reached. Thls report is m8de 801dy lo the Chadtys Trustees. as a in accordance wilh Part 4 of the Charthes IA¢wunls and Report81 Regulations 2008. My wofft has been undertaken 80 that I might stsle to Ihe Charitys TnJ$te8$ those mattets l am required lo State lo them in an Indepandent examinerfs report and for no other PUTpose. To the fullest extent permltted by law, I do not accew or assume responslbility to anyone other than the Charity and the Charitl$ Tn￿lee$ a8 a body, for my woTk or for thls report. S￿￿ed.. Dated.. 9 OLXober 2023 Janak Pokhrel AC& FCCA Mantax Lynton Chartered Ac￿Untsnts Page 6

Maharashtra Mandal London

Statement of financial activities For the Year Ended 31 October 2022

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Charitable activities
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward
Restricted
funds
2022
£
-
-
-
-
-
-
-
4,012
-
4,012
Unrestricted
funds
2022
£
52,926
15,836
1,662
70,424
41,352
41,352
29,072
185,050
29,072
214,122
Total
funds
2022
£
52,926
15,836
1,662
70,424
41,352
41,352
29,072
189,062
29,072
218,134
Total
funds
2021
£
141,848
3,401
287
145,536
109,333
109,333
36,203
152,859
36,203
189,062

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 9 to 18 form part of these financial statements.

Page 7

Maharashtra Mandal London

Balance sheet As at 31 October 2022

Note
Fixed assets
Current assets
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due within one
year
10
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
11
Unrestricted funds
11
Total funds
5,867
245,492
251,359
(33,225)
2022
£
-
218,134
218,134
218,134
218,134
4,012
214,122
218,134
280
191,239
191,519
(2,457)
2021
£
-
189,062
189,062
189,062
189,062
4,012
185,050
189,062

The financial statements were approved and authorised for issue by the Trustees on 09 October 2023 and signed on their behalf by:

Pradeep Mohile

Finance Trustee

The notes on pages 9 to 18 form part of these financial statements.

Page 8

Maharashtra Mandal London

Notes to the financial statements For the Year Ended 31 October 2022

1. General information

Maharashtra Mandal London is a Charity registered with the Charity Commission. The registered office is 306 Dollis Hill Lane, London, NW2 6HH. The charity meets the definition of a public benefit entity under FRS 102.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Maharashtra Mandal London meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

Page 9

Maharashtra Mandal London

Notes to the financial statements For the Year Ended 31 October 2022

2. Accounting policies (continued)

2.4 Debtors

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

2.5 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.6 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.7 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.8 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 10

Maharashtra Mandal London

Notes to the financial statements For the Year Ended 31 October 2022

3. Income from donations and legacies

Unrestricted
funds
2022
£
Donations
Sponsorship
4,850
Ganesh Festival Donations
15,690
General Donations
3,814
Building Fund Donations
8,952
Membership Fees
3,559
Gift aid received
12,459
Subtotal detailed disclosure
49,324
Donations
3,602
Subtotal
3,602
Total 2022
52,926
Unrestricted
funds
2021
£
Donations
Maharashtra Covid fund
88,278
Ganesh Festival Donations
19,448
General Donations
2,303
Building Fund Donations
25,427
Membership Fees
3,390
Gift aid received
3,002
Subtotal detailed disclosure
141,848
Total 2021
141,848
Total
funds
2022
£
4,850
15,690
3,814
8,952
3,559
12,459
49,324
3,602
3,602
52,926
Total
funds
2021
£
88,278
19,448
2,303
25,427
3,390
3,002
141,848
141,848

Page 11

Maharashtra Mandal London

Notes to the financial statements For the Year Ended 31 October 2022

4. Income from charitable activities

Unrestricted
funds
2022
£
Sponsorship income
4,850
Event related activities
10,986
15,836
Unrestricted
funds
2021
£
Advertisement income
482
Event related activities
2,919
3,401
Total
funds
2022
£
4,850
10,986
15,836
Total
funds
2021
£
482
2,919
3,401

5. Investment income

Unrestricted
funds
2022
£
Interest
1,662
Restricted
funds
2021
Unrestricted
funds
2021
£
£
Interest
1
286
Total
funds
2022
£
1,662
Total
funds
2021
£
287

Page 12

Maharashtra Mandal London

Notes to the financial statements For the Year Ended 31 October 2022

6. Analysis of expenditure by activities

Chartitable Activities
Charitable Activities
Analysis of direct costs
Donations to Maharashtra Mandal UK Ltd
Event related activities
Donations to Maharashtra Mandal UK Ltd
Donations to Maharashtra COVID Fund
Event related expenses
Ganesh Festival Expenses
Activities
undertaken
directly
2022
£
39,277
Activities
undertaken
directly
2021
£
104,432
Support
costs
2022
£
2,075
Support
costs
2021
£
4,901
Activities
2022
£
31,000
8,277
39,277
Activities
2021
£
88,278
5,000
2,790
8,364
104,432
Total
funds
2022
£
41,352
Total
funds
2021
£
109,333
Total
funds
2022
£
31,000
8,277
39,277
Total
funds
2021
£
88,278
5,000
2,790
8,364
104,432

Page 13

Maharashtra Mandal London

Notes to the financial statements For the Year Ended 31 October 2022

6. Analysis of expenditure by activities (continued)

Analysis of support costs

Bank charges
Advertising
General Office Expenses
Computer Costs
Printing, Postage and Stationery
Governance cost- Accountancy
Total 2022
Activities
2022
£
184
35
387
90
179
1,200
2,075
Total
funds
2022
£
184
35
387
90
179
1,200
2,075
Bank charges
Advertising
Intern Re Strategy Project
AGM expenses
Subscriptions
FAcilitations
Governance- Accountancy
Activities
2021
£
1,336
250
1,010
1,350
35
170
750
4,901
Total
funds
2021
£
1,336
250
1,010
1,350
35
170
750
4,901

7. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £1,200 ( 2021 - £750 ).

8. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .

During the year ended 31 October 2022, no Trustee expenses have been incurred (2021 - £NIL) .

Page 14

Maharashtra Mandal London

Notes to the financial statements For the Year Ended 31 October 2022

9. Debtors

Due within one year
Other debtors
Prepayments and accrued income
2022
£
4,639
1,228
5,867
2021
£
280
-
280

10. Creditors: Amounts falling due within one year

Accruals and deferred income
Donations accrued
2022
£
2,225
31,000
33,225
2021
£
2,457
-
2,457

Page 15

Maharashtra Mandal London

Notes to the financial statements For the Year Ended 31 October 2022

11. Statement of funds

Statement of funds - current year
Unrestricted funds
General Funds - all funds
Restricted funds
Restricted Funds - all funds
Total of funds
Balance at 1
November
2021
£
185,050
4,012
189,062
Income
£
70,424
-
70,424
Expenditure
£
(41,352)
-
(41,352)
Balance at
31 October
2022
£
214,122
4,012
218,134

Page 16

Maharashtra Mandal London

Notes to the financial statements For the Year Ended 31 October 2022

11. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Funds - all funds
Restricted funds
Restricted Funds - all funds
Total of funds
Summary of funds
Summary of funds - current year
General funds
Restricted funds
Summary of funds - prior year
General funds
Restricted funds
Balance at
1 November
2020
£
148,848
4,011
152,859
Balance at 1
November
2021
£
185,050
4,012
189,062
Balance at
1 November
2020
£
148,848
4,011
152,859
Income
£
145,535
1
145,536
Income
£
70,424
-
70,424
Income
£
145,535
1
145,536
Expenditure
£
(109,333)
-
(109,333)
Expenditure
£
(41,352)
-
(41,352)
Expenditure
£
(109,333)
-
(109,333)
Balance at
31 October
2021
£
185,050
4,012
189,062
Balance at
31 October
2022
£
214,122
4,012
218,134
Balance at
31 October
2021
£
185,050
4,012
189,062

12. Summary of funds Summary of funds - current year

Page 17

Maharashtra Mandal London

Notes to the financial statements For the Year Ended 31 October 2022

13. Analysis of net assets between funds

Analysis of net assets between funds - current year

Current assets
Creditors due within one year
Total
Restricted
funds
2022
Unrestricted
funds
2022
£
£
4,012
247,347
-
(33,225)
4,012
214,122
Total
funds
2022
£
251,359
(33,225)
218,134

Analysis of net assets between funds - prior year

Current assets
Creditors due within one year
Total
Restricted
funds
2021
£
4,012
-
4,012
Unrestricted
funds
2021
£
187,507
(2,457)
185,050
Total
funds
2021
£
191,519
(2,457)
189,062

Page 18