**Charity number: 243443** ## **Maharashtra Mandal London** ## **Unaudited** **Trustees' report and financial statements** **For the Year Ended 31 October 2023** ## **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 2023** **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 1 April 2023) **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 2023** The trustees present their report and financial statements for the year ended 31 October 2023. 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** ## **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 titled ‘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. - advance religion amongst Maharashtrians. - preserve and protect good health and to relieve sickness and poverty amongst Maharashtrians. - do all such activities that will help Maharashtrians to integrate with British culture and society so that Maharashtrians are benefited by the best of both cultures and make their living in the United Kingdom a fulfilling experience. Such activities may not be traditional Maharashtrian but in the spirit of aforesaid objects 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 trustees of Maharashtra Mandal UK Ltd, an incorporated charity with same charitable objectives as Maharashtra Mandal London. Page 2 **Maharashtra Mandal London** ## **Trustees' report (continued) For the Year Ended 31 October 2023** ## **Achievements and Performance** ## **a. Main achievements of the Charity** Diwali Dinner and dance, Badminton & Cricket tournament, Shivarajyabhishek, Maharashtra Din, Mangalagaur and Ganeshotsav programmes were celebrated in the Mandal. The Executive Committee successfully managed these events efficiently coping with vast numbers of attendees. From the total donations, sponsorships & membership subscriptions generated of £59,444, a sum of £56,500 (2022: £31,000) was donated to Maharashtra Mandal UK Ltd (after the year-end). ## **b. Fundraising activities and income generation** Our Fundraising Trustee has been very active in the campaign for raising £425,000 for the freehold purchase of the Charity’s premises at Dollis Hill Lane and activities continued throughout the year. Special efforts were made to meet visitors on a one-to-one basis requesting to become members and donate for building fundraising. Donation appeals have been prepared and continued to be sent to members and given to non members too. Telephone calls were made and what's app messages and emails were sent to members. The Executive Committee has also worked closely with the Fundraising Trustee to co-ordinate fundraising activities and efforts. Senior Citizens Club (SCC) sessions were held throughout the year. Various programmes such as singing, lectures on health and board games were organised by the SCC. ## **Financial review** The financial results for the year are set out in accompanying financial statements. ## **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 donations, 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 risks. Page 3 **Maharashtra Mandal London** ## **Trustees' report (continued) For the Year Ended 31 October 2023** ## **Structure, governance, and management** ## **a. Constitution** The charity was established by a charitable trust deed dated 9th February 1963. The constitution of the charity was amended and filed with the Charity Commission 5th March 2014. The organisational structure of the charity is divided into two parts i.e. an Executive Committee (EC) and a Board of Trustees (BOT) The EC is responsible for the management and administration of the day to day running of the operations of the Charity. The EC is led by a President, who is elected on a periodic basis, together with other committee members who are appointed by the President. 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 a minimum of four and maximum of six trustees duly appointed under the provisions of charity constitution. One of the trustees is appointed as a 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 recommends the incumbent(s) to the General Body for their approval of trustee appointment in the members Annual General Meeting. All current trustees accepted the invitation to become trustee of the charity. None of the trustees have any 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 01 April 2023 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. ## **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 Trustees. report (continued) For the Year Ended 31 Octob8r 2023 Statement of Trustees. responsibilities The Trustees are responsible for preparing the Tnjstees. report and the finanaal statements in accordance with applicable law and United lfjngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law appli(xble to charities in England & Wal&s requires the Tfustees to prepare finanaal statements for each financial year.. that gives a true and fair view of the slate of affairs of the Company and of its incoming resources and application of resources. including its income and expendrlure. for that period. In preparing these financial statements, the Trustees are required to- select suilable ac£¥)unting poli(aes and then apptythem consistenty. observe the methods and principles of the Charities SORP IFRS 102). make judgments and accountirwJ estimates that are reasonable and prudent: state whether applicable UK Accounting Standards IFRS 102} have been followed. subject to any malerial departures dFsdosed and explained in the financial ststements" prepare the financial statements on the going ￿nCern basis Unl￿ it inappryriate to presume that the Company wll continue in bus￿￿. The Tnjstees are reswnsitde for keeping adequate &C(￿ntIng recA)rds that are sufficient to show and explain the Charitys transactions and disclose vthh reasonable accurdcy at any time the finanual FM)SttK)n of the Charity and enable them to ensure that the finan(ial statements comply wth the Chaiibes Act 2011. Trustees 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 irregularitres. Approved by order of the members of the board of T￿￿teeS on 28 Febnjary 2024 and signed on their behaff by.. Vasant P Ranade (Finance Trustee) ## **Maharashtra Mandal London** ## **Independent examiner's report For the Year Ended 31 October 2023** ## **Independent examiner's report to the Trustees of Maharashtra Mandal London ('the Charity')** I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 October 2023. ## **Responsibilities and basis of report** As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed 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 accounts do not accord with those records; or 3. the accounts 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 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 accounts to be reached. This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed: Dated: 28 February 2024 Janak Pokhrel ACA, FCCA ## **Mantax Lynton** Chartered Accountants Page 6 **Maharashtra Mandal London** ## **Statement of financial activities For the Year Ended 31 October 2023** |**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**
**2023**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**4,012**
**-**
**4,012**|**Unrestricted**
**funds**
**2023**
**£**
**31,604**
**25,518**
**2,322**
**59,444**
**58,565**
**58,565**
**879**
**214,122**
**879**
**215,001**|**Total**
**funds**
**2023**
**£**
**31,604**
**25,518**
**2,322**
**59,444**
**58,565**
**58,565**
**879**
**218,134**
**879**
**219,013**|_Total_
_funds_
_2022_
_£_
_52,926_
_15,836_
_1,662_| |---|---|---|---|---| |||||_70,424_| |||||_41,352_| |||||_41,352_| |||||_29,072_| |||||_189,062_
_29,072_| |||||_218,134_| 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 Balan￿ sheet AB at 31 October2023 2Q22 Fixgd assets Debtors Cash at bank and in 520 270A33 &867 245.492 274953 251,359 Credrtors: amounts falrng the within (r year 10 155W) (33.225) Net current assets 219.013 218.134 Totsl assets1•8s currwrt Its￿lI11e$ 219.013 218,734 219.013 218. 134 Total nèt assets 219.013 218.734 Charfty fund$ Restrtcted fvnds Unfeslricted funds 11 11 4,012 21&001 4.012 214, 1¥2 Totsl funds 219.013 2t8. 734 $i￿ed on their behalf by. ovlnd Shankar Kanegaonkar ChaiTman FIrr￿n￿ Trusts6 **Maharashtra Mandal London** ## **Notes to the financial statements For the Year Ended 31 October 2023** ## **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 2023** ## **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 2023** ## **3. Income from donations and legacies** |**Unrestricted**
**funds**
**2023**
**£**
**Donations**
Ganesh Festival Donations
9,182
General Donations
16,207
Building Fund Donations
1,992
Membership Fees
4,191
Gift aid received
-
**Subtotal detailed disclosure**
31,572
Donations
32
**Subtotal**
32
**Total 2023**
31,604
_Unrestricted_
_funds_
_2022_
_£_
**Donations**
Maharashtra Covid fund
_4,850_
Ganesh Festival Donations
_19,292_
General Donations
_3,814_
Building Fund Donations
_8,952_
Membership Fees
_3,559_
Gift aid received
_12,459_
**Subtotal detailed disclosure**
_52,926_
_Total 2022_
_52,926_|**Total**
**funds**
**2023**
**£**
**9,182**
**16,207**
**1,992**
**4,191**
**-**| |---|---| ||**31,572**| ||**32**| ||**32**| ||| ||**31,604**| ||_Total_
_funds_
_2022_
_£_
_4,850_
_19,292_
_3,814_
_8,952_
_3,559_
_12,459_| ||_52,926_| ||| ||_52,926_| Page 11 ## **Maharashtra Mandal London** ## **Notes to the financial statements For the Year Ended 31 October 2023** ## **4. Income from charitable activities** |**Unrestricted**
**funds**
**2023**
**£**
Sponsorship income
10,554
Event related activities
14,964
25,518
_Unrestricted_
_funds_
_2022_
_£_
Advertisement income
_4,850_
Event related activities
_10,986_
_15,836_|**Total**
**funds**
**2023**
**£**
**10,554**
**14,964**| |---|---| ||**25,518**| ||_Total_
_funds_
_2022_
_£_
_4,850_
_10,986_| ||_15,836_| ## **5. Investment income** |**Unrestricted**
**funds**
**2023**
**£**
Interest
2,322
_Unrestricted_
_funds_
_2022_
_£_
Interest
_1,662_|**Total**
**funds**
**2023**
**£**
**2,322**| |---|---| ||_Total_
_funds_
_2022_
_£_
_1,662_| Page 12 ## **Maharashtra Mandal London** ## **Notes to the financial statements For the Year Ended 31 October 2023** ## **6. Analysis of expenditure by activities** |Charitable Activities
Charitable Activities
**Analysis of direct costs**
Donations to Maharashtra Mandal UK Ltd
Event related activities
Donations to Maharashtra Mandal UK Ltd
Event related expenses|**Activities**
**undertaken**
**directly**
**2023**
**£**
57,146
_Activities_
_undertaken_
_directly_
_2022_
_£_
_39,277_|**Support**
**costs**
**2023**
**£**
1,419
_Support_
_costs_
_2022_
_£_
_2,075_
**Activities**
**2023**
**£**
56,500
646
57,146
_Activities_
_2022_
_£_
_31,000_
_8,277_
_39,277_|**Total**
**funds**
**2023**
**£**
**58,565**| |---|---|---|---| ||||_Total_
_funds_
_2022_
_£_
_41,352_| ||||**Total**
**funds**
**2023**
**£**
**56,500**
**646**| ||||**57,146**| ||||_Total_
_funds_
_2022_
_£_
_31,000_
_8,277_| ||||_39,277_| Page 13 **Maharashtra Mandal London** ## **Notes to the financial statements For the Year Ended 31 October 2023** ## **6. Analysis of expenditure by activities (continued)** ## **Analysis of support costs** |Bank charges
Advertising
Computer Costs
Subscriptions
Governance cost- Accountancy
**Total 2023**
Bank charges
Advertising
General expenses
Computer costs
Intern Re Strategy Project
Governance- Accountancy|**Activities**
**2023**
**£**
488
35
29
117
750
1,419
_Activities_
_2022_
_£_
_184_
_35_
_387_
_90_
_179_
_1,200_
_2,075_|**Total**
**funds**
**2023**
**£**
**488**
**35**
**29**
**117**
**750**| |---|---|---| |||**1,419**| |||_Total_
_funds_
_2022_
_£_
_184_
_35_
_387_
_90_
_179_
_1,200_| |||_2,075_| ## **7. Independent examiner's remuneration** The independent examiner's remuneration amounts to an independent examiner fee of £750 ( _2022_ - _£750_ ). ## **8. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits _(2022 - £NIL)_ . During the year ended 31 October 2023, no Trustee expenses have been incurred _(2022 - £NIL)_ . Page 14 **Maharashtra Mandal London** ## **Notes to the financial statements For the Year Ended 31 October 2023** ## **9. Debtors** |**Due within one year**
Other debtors
Prepayments and accrued income|**2023**
**£**
**2,504**
**2,016**
**4,520**|_2022_
_£_
_4,639_
_1,228_| |---|---|---| |||| |||_5,867_| ## **10. Creditors: Amounts falling due within one year** |Accruals and deferred income
Amount owed to connected company|**2023**
**£**
**1,820**
**54,120**
**55,940**|_2022_
_£_
_2,225_
_31,000_| |---|---|---| |||| |||_33,225_| Page 15 **Maharashtra Mandal London** ## **Notes to the financial statements For the Year Ended 31 October 2023** ## **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**
**2022**
**£**
**214,122**
**4,012**
**218,134**|**Income**
**£**
**59,444**
**-**
**59,444**|**Expenditure**
**£**
**(58,565)**
**-**
**(58,565)**|**Balance at**
**31 October**
**2023**
**£**
**215,001**| |---|---|---|---|---| |||||**4,012**| |||||**219,013**| Page 16 **Maharashtra Mandal London** ## **Notes to the financial statements For the Year Ended 31 October 2023** ## **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_
_2021_
_£_
_185,050_
_4,012_
_189,062_
**Balance at 1**
**November**
**2022**
**£**
**214,122**
**4,012**
**218,134**
_Balance at_
_1 November_
_2021_
_£_
_185,050_
_4,012_
_189,062_|_Income_
_£_
_70,424_
_-_
_70,424_
**Income**
**£**
**59,444**
**-**
**59,444**
_Income_
_£_
_70,424_
_-_
_70,424_|_Expenditure_
_£_
_(41,352)_
_-_
_(41,352)_
**Expenditure**
**£**
**(58,565)**
**-**
**(58,565)**
_Expenditure_
_£_
_(41,352)_
_-_
_(41,352)_|_Balance at_
_31 October_
_2022_
_£_
_214,122_| |---|---|---|---|---| |||||_4,012_| |||||_218,134_| |||||**Balance at**
**31 October**
**2023**
**£**
**215,001**
**4,012**| |||||**219,013**| |||||_Balance at_
_31 October_
_2022_
_£_
_214,122_
_4,012_| |||||_218,134_| ## **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 2023** ## **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**
**2023**
**Unrestricted**
**funds**
**2023**
**£**
**£**
4,012
270,941
-
(55,940)
4,012
215,001|**Total**
**funds**
**2023**
**£**
**274,953**
**(55,940)**
**219,013**| |---|---|---| ## **Analysis of net assets between funds - prior year** |Current assets
Creditors due within one year
**Total**|_Restricted_
_funds_
_2022_
_£_
_4,012_
_-_
_4,012_|_Unrestricted_
_funds_
_2022_
_£_
_247,347_
_(33,225)_
_214,122_|_Total_
_funds_
_2022_
_£_
_251,359_
_(33,225)_
_218,134_| |---|---|---|---| ## **14. 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 £56,500 (2022: £31,000) was paid as a donation to Maharashtra Mandal UK Limited (MMUKL). Amount owed to Maharashtra Mandal UK Ltd at year end was £54,120 (2022: £32,024). ## **15. Controlling party** The Charity is controlled by the board of Trustees Page 18