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|||Page|
|---|---|---|
|Notice AGM||3 —6|
|Report ofthe Management<br>Committee||7 —36|
|Independent<br>auditors'|report|37 —41|
|Statement offinancial|activities|42|
|Statement offinancial|position|43|
|Statement ofcash tlow||44|
|Notes to the financial statements||45-63|
|Minutes ofAGM held|Wednesday 30'" December 2020|64—72|





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|President|||Mr M M Deboo||
|---|---|---|---|---|
|Vice President|||MrBRKapadia||
|Vice President||(External)|Mrs SBSadri||
|Treasurer|||Mr JSCanteenwala||
|Secretary|||Mr RFMunshi||
|Joint Treasurer|||Mr KSAvari||
||||Mr DEMistry OBE||
||||Mr GD Buhariwala||
||||Mr DJKarkaria||
||||Ms JSorab||
||||Mrs PFKiani||
||||Miss SYMunshi||
|Company|Secretary||Mr RFMunshi||
|Auditor|||Brian Paul Limited||
||||Chartered<br>Accountants|&Registered Auditors|
||||Chase Green House||
||||42 Chase Side||
||||Enfield||
||||Middlesex||
||||EN2 6NF||
|Bankers|||National<br>Westminster|Bank Pic|
||||Harrow Town Centre||
||||315Station Road||
||||Harrow||
||||Middlesex||
||||HA 1 2AD||





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||||||2021||2020|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|||
||||Note|funds<br>f|funds<br>6|Totalfunds<br>E|Total funds|
|Income and endowments||||||||
|Donations and legacies|||5|493,262|109,298|602,560|390,859|
|Investment<br>income|||6|39,641|88,233|127,874|152,269|
|Covid-19 furloughed|grant|received|7|22,923||22,923||
|Total income||||555,826|197,531|753,357|543,128|
|Expenditure||||||||
|Expenditure<br>on chaditable||activities|8,9|190,862|146,062|336,924|381,383|
|Total expenditure||||190,862|146,062|336,924|381,383|
|Net gains/(losses)<br>on investments|||10|233,027|518,670|751,697|(719,254)|
|Net Income/(expenditure)||and net||||||
|movement<br>in funds||||597,991|570,139|1,168,130|(557,509)|
|Reconciliation<br>offunds||||||||
|Total funds brought|forward|||1,940,436|4,300,414|6,240,850|6,798,359|
|Total funds carried|forward|||2,538,427|4,870,553|7,408,980|6,240,850|





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|||||||2021|2020|
|---|---|---|---|---|---|---|---|
||||||Note|6|5|
|Fixed assets||||||||
|Tangible fixed assets|||||15|2,428,059|2,498,722|
|Investments|||||16|4,268,417|2,733,290|
|||||||6,696,476|5,232,012|
|Current assets||||||||
|Debtors|||||17|25,755|29,224|
|Cash at bank|and|in|hand|||700,600|999,346|
|||||||726,355|1,028,570|
|Creditors: amounts|||falling|due within one year|18|13,851|19,732|
|Net current assets||||||712,504|1,008,838|
|Total assets|less|current||liabilities||7,408,980|6,240,850|
|Net assets||||||7,408,980|6,240,850|
|Funds ofthe charity||||||||
|Restricted funds||||||4,870,553|4,300,414|
|Unrestricted|funds|||||2,538,427|1,940,436|
|Total charity|funds||||19|7,408,980|6,240,850|





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|||||2021|2020|
|---|---|---|---|---|---|
|Cash flows from operating|activities|||||
|Net income/(expenditure)||||1,168,131|(557,509)|
|Adjustments<br>for:||||||
|Depreciation<br>oftangible<br>fixed assets||||71,993|72,136|
|Net gains/(losses)<br>on investments||||(751,697)|719,254|
|Dividends,<br>interest and rents|from|investments||(127,580)|(151,164)|
|Other interest receivable<br>and similar income||||(293)|(1,105)|
|Interest payable and similar charges||||215|375|
|Accrued (income)/expenses||||(6,240)|4,703|
|Chsngesini||||||
|Trade and other debtors||||3,469|2,851|
|Trade and other creditors||||358|(3,731)|
|Cash generated<br>from operations||||358,356|85,810|
|Interest paid||||(215)|(375)|
|Interest received||||293|1,105|
|Net cash from operating<br>activities||||358,434|86,540|
|Cash flows from investing|activities|||||
|Dividends,<br>interest and rents|from|investments||127,580|151,164|
|Purchase oftangible assets||||(1,330)|(2,163)|
|Purchases<br>of other investments||||(1,054,345)|(542,655)|
|Proceeds from sale ofother|investments|||270,915|841,170|
|Net cash (used in)/from<br>investing||activities||(657,180)|447,516|
|Net (decrease)/Increase<br>in|cash|and cash|equivalents|(298,746)|534,056|
|Cash and cash equivalents|at beginning||ofyear|999,346|465,290|
|Cash and cash equivalents|at end ofyear|||700,600|999,346|





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|r ended 31"March 2|r ended 31"March 2|021|||||
|---|---|---|---|---|---|---|
|Donations<br>and legacies|||||||
|||||Unrestricted|Restricted|Total Funds|
|||||Funds|Funds|2021|
|||||E|E||
|Donations|||||||
|Donations: (other)||||85,352||85,352|
|Burial Ground<br>Fund - Upkeep and funerals||||14,563||14,563|
|Place ofworship|||||177|177|
|Medical relief fund|||||17,921|17,921|
|Poor Peoples Project|||||1,078|1,078|
|Religious funds|||||7,945|7,945|
|Mobed fund|||||20,327|20,327|
|Sequicentennial<br>Fund|for|Propagation|of||||
|Zoroastrianism,<br>Inter-faith||and Goodwill|||8,000|8,000|
|Educational<br>fund|||||||
|Senior Citizens Home|Appeal||||||
|Income tax recoverable|||||||
|Minoo<br>M Kalifa Memorial<br>Fund for BWZYC||||10,000||10,000|
|Dolly 8 Hoshang<br>Rustomji||Khambatta|Bequest|381,556||381,556|
|Minoo<br>M Kalifa Fund for J||NoRuz &Sh|Navroze||53,850|53,850|
|Subscriptions|||||||
|Ordinary<br>membership|subscriptions|||1,041||1,041|
|Life membership<br>subscriptions||||750||750|
|||||493,262|109,298|602,560|
|||||Unrestricted|Restricted|Total Funds|
|||||Funds|Funds|2020|
||||||5|F|
|Donations|||||||
|Donations: (other)||||99,572||99,572|
|Burial Ground<br>Fund - Upkeep and funerals||||23,360||23,360|
|Place ofworship|||||9,672|9,672|
|Medical relief fund|||||||
|Poor Peoples Project|||||2,729|2,729|
|Religious funds|||||12,985|12,985|
|Mobed fund|||||19,308|19,308|
|Sesquicentennial<br>Fund|for Propagation||of||||
|Zoroastrianism,<br>Inter-faith||and Goodwill|||501|501|
|Educational<br>fund|||||7,499|7,499|
|Senior Citizens Home|Appeal||||150|150|
|Income tax recoverable||||6,288||6,288|
|Bequests|||||205,000|205,000|
|Subscriptions|||||||
|Ordinary<br>membership|subscriptions|||1,395||1,395|
|Life membership<br>subscriptions||||2,400||2,400|
|||||133,015|257,844|390,859|





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|||Unrestricted|Restricted|Total Funds|
|---|---|---|---|---|
|||Funds|Funds|2021|
||||E||
|Dividend|Income|39,550|88,031|127,581|
|Bank Interest received||91|202|293|
|||39,641|88,233|127,874|
|||Unrestricted|Restricted|Total Funds|
|||Funds|Funds|2020|
|||E|E|6|
|Dividend|Income|80,914|70,250|151,164|
|Bank Interest received||1,083|22|1,105|
|||81,997|70,272|152,269|



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|7.|Other income|||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||||||Funds|2021|Funds|2020|
|||||||f||E||
||Covid-19 furloughed|||grant|received|22,923|22,923|||
|8.|Expenditure|on|charitable||activities|by fund type||||
||||||||Unrestricted|Restdcted|Total Funds|
||||||||Funds|Funds|2021|
||||||||f||6|
||Other Charitable||expenses||||463||463|
||Welfare funds||||||29,148||29,148|
||Place ofworship||expenses||||31,651||31,651|
||Burial Ground|Fund||- Upkeep and funerals|||23,145||23,145|
||Repairs and maintenance||||||33,013||33,013|
||Depreciation||||||2,572|69,422|71,994|
||WZCC||||||666||666|
||Educationalfunds|||||||18,700|18,700|
||Religious funds|||||||33,474|33,474|
||Medical funds|||||||15,720|15,720|
||Library funds|||||||200|200|
||Sesquicentennial||Fund for||Propagation|of||||
||Zoroastrianism,||Inter-faith||and Goodwill|||8,546|8,546|
||Suppoitcosts||||||70,203||70,203|
||||||||190,862|146,062|336,924|





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||||||Unrestricted|Restricted|Total Funds|
|---|---|---|---|---|---|---|---|
||||||Funds<br>F|Funds<br>E|2020<br>f|
|Other Charitable||expenses|||2,396||2,396|
|Welfare funds|||||48,902||48,902|
|Place ofworship||expenses|||38,473||38,473|
|Burial Ground|Fund - Upkeep and funerals||||20,591||20,591|
|Repairs and maintenance|||||20,364||20,364|
|Depreciation|||||2,717|69,422|72,138|
|WZCC||||||||
|Educational<br>funds||||||35,313|35,313|
|Religious funds|||||1,109|64,736|65,845|
|Sesquicentennial||Fund for|Propagation|of||||
|Zoroastrianism,||Inter-faith|and Goodwill|||4,359|4,359|
|Support costs|||||72,661|340|73,002|
||||||207,213|174,170|381,383|



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||||||Activities|||||
|---|---|---|---|---|---|---|---|---|---|
||||||undertaken|||Total funds|Total fund|
||||||directly|Support|costs|2021|2020|
|||||||||E|6|
|Other Charitable|||expenses||463|||463|2,396|
|Welfare funds|||||29,148|||29,148|48,902|
|Place ofworship|||expenses||31,651|||31,651|38,473|
|Burial Ground||Fund - Upkeep||and||||||
|funerals|||||23,145|||23,145|20,591|
|Repairs and||maintenance|||33,013|||33,013|20,364|
|Depreciation|||||71,994|||71,994|72,138|
|WZCC|||||666|||666||
|Educational|funds||||18,700|||18,700|35,313|
|Religious funds|||||49,194|||49,194|65,845|
|Library funds|||||200|||200|340|
|Sesquicentennial|||Fund for Propagation|||||||
|ofZoroastrianism,|||Inter-faith|and||||||
|Goodwill|||||8,547|||8,547|4,359|
|Governance||costs||||70,203||70,203|72,662|
||||||266,721|70,203||336,924|381,383|





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|Yea|r ended 31"Ma|r ended 31"Ma|r ended 31"Ma|rch|2021|2021||||
|---|---|---|---|---|---|---|---|---|---|
|10.|Net gains/(losses)|||on|investments|||||
||||||||Unrestricted|Restricted|Total Funds|
||||||||Funds|Funds|2021|
||||||||E|E|E|
||Realised|gain/(loss)||on sale of investments|||1,016|2,260|3,276|
||Unrealised||gain/(loss)||on investment||232,011|516,410|748,421|
||||||||233,027|518,670|751,697|
||||||||Unrestricted|Restricted|Total Funds|
||||||||Funds|Funds|2020|
||||||||E|E|E|
||Realised|gain/(loss)||on sale of investments|||39,064|33,478|72,542|
||Unrealised||gain/(loss)||on investment||(426,382)|(365,414)|(791,796)|
||||||||(387,318)|(331,936)|(719,254)|
|11.|Net income/(expenditure)|||||||||
||Net income/(expenditure)|||||is stated after charging/(crediting):||||
|||||||||2021|2020|
|||||||||E|E|
||Depreciation||oftangible|||fixed assets||71,993|72,136|
|12.|Auditors|remuneration||||||||
|||||||||2021|2020|
|||||||||E||
||Fees payable for the audit ofthe financial statements|||||||5,880|5,700|
|13.|Staff costs|||||||||
|||||||||2021|2020|
||Wages and||salaries|||||89,010|89,438|
||Social security costs|||||||3,612|4,745|
||Employer|pension||contribution||||1,870|1,906|
|||||||||94,492|96,089|



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|Tangible fixed assets|||||
|---|---|---|---|---|
|||Freehold|Fixtures and||
|||property|fittings|Total|
|||8||6|
|Cost|||||
|At 1st April 2020||3,492,131|177,985|3,670,116|
|Additions|||1,330|1,330|
|At 31stMarch 2021||3,492,131|179,315|3,671,446|
|Depreciation|||||
|At 1stApril 2020||1,006,419|164,975|1,171,394|
|Charge for the year||69,842|2,151|71,993|
|At 31stMarch 2021||1,076,261|167,126|1,243,387|
|Carrying<br>amount|||||
|At 31stMarch 2021||2,415,870|12,189|2,428,059|
|At 31st March 2020||2,485,712|13,010|2,498,722|
|Freehold Properties|Breakdown||||
|||Harrow|Brookwood|Total|
||||8||
|Cost at 1stApril 2020||3,471,079|21,051|3,492,131|
|Depreciation|||||
|At 1stApril 2020||998,852|7,567|1,006,419|
|Charge for the year||69,422|421|69,842|
|At 31st March 2021||1,068,274|7,988|1,076,261|
|Carrying<br>amount|||||
|At 31st March 2021||2,402,805|13,063|2,415,870|
|At 31st March 2020||2,472,227|13,484|2,485,712|





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|Investments|||
|---|---|---|
|||Listed|
|||investments|
|Cost or valuation|||
|At 1stApdl 2020||2,733,290|
|Additions||1,054,345|
|Disposals||(270,915)|
|Fair value movements||751,697|
|At 31stMarch|2021|4,268,417|
|Impairment|||
|At 1stApril 2020 and 31st March 2021|||
|Carrying<br>amount|||
|At 31stMarch|2021|4,268,417|
|At 31st March|2020|2,733,290|
|All investments|shown above are held at valuation.||



|All investments<br>shown above are held at valu<br>Financial assets held at fair value|ation.|||
|---|---|---|---|
||Listed|Premium||
||Investments|Bonds|Total|
|Cost at 1stApril 2020|2,732,355|935|2,733,290|
|Additions|1,054,345||1,054,345|
|Disposals|(270,915)||(270,915)|
|Fair value movements|751,697||751,697|
|At31st March 2021|4,267,482|935|4,268,417|
|Historical cost at 31st March 2021|4,183,053|935|4,183,988|
|Historical cost at 31st March 2020|3,128,707|935|3,129,642|



|17|Debtors|||||
|---|---|---|---|---|---|
|||||2021|2020|
|||||6|6|
|||||25,755|29,224|
||The debtors above include the following||amounts|falling due after more than one year:||
|||||2021|2020|
|||||8||
||Other debtors|||13,000|13,000|
|18.|Creditors: amounts|falling due within|one year|||
|||||2021|2020|
||||||F|
||Accruals and deferred|income||12,329|18,569|
||Other creditors|||1,522|1,163|
|||||13,851|19,732|





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||||||C<br>E<br>D0<br>C||||||||N<br>Cl<br>CO|N<br>CD<br>CO|CO<br>OI<br>Dl<br>CI|
||||||||4I|I|I|||||||
||||||Gl|||||||||||
||||||IOC|||||||||||
||||||Gl|||||||||||
||||||I—|||||||||||
|Cl||||||||||||||||
|III||||||||||||||||
|0<br>CL<br>0Vc|||||ECEO <br>CE N<br>cC O<br>Z||4E|N<br>DE<br>N|IA<br>CA <br>W|Cb<br> N<br>CD|||CI<br>CO<br>CI<br>IYP|Dl<br>CI<br>CCI|'0<br>CI<br>CI<br>CO|
|Cl||||||||||||||||
|CL0||||||||||||||||
|LU||,0||||||||||||||
|0<br>III<br>'U|ED|88||'8<br>,0<br>0||||||||||||
|0|EO<br> c|||8||||||||||||
|LL<br>E5<br>EO<br>CllV Q||v<br>CI<br>C0<br>C|N<br>E0<br>DE<br>i"|0I<br>C<br>E0<br>Zl<br>EE|||||||||||Ol<br>c|
|Ca '0e<br>a<br>P v<br>C0 &<br>0<br>m<br>hl 0.<br>e 6<br>C 0<br>I- V||g<br>EO<br>C<br>v<br>EO<br>0<br>Z|EO<br>e<br>eo<br>e'0<br>EO<br>e|I0I<br>Q<br>Ea<br>E0<br>E0<br>CC||||C<br>CA<br>'O<br>EU<br>C 'C 'O<br>C C<br>52 e<br>'C —P-<br>'C +ACE<br>—~5||||'C<br>C <br>Cl<br>I<br>D <br>E0<br>5 <br>Cl|C<br>IO<br>8<br> 5<br> 'C<br>Cl||IL'0<br>Ihe<br>0I-|





## 

|Analysis|ofnet asse|ts between funds||||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total Funds|
||||Funds<br>f|Funds<br>6|2021|
|Tangible|fixed assets|||2,428,059|2,428,059|
|Investments|||2,317,549|1,950,868|4,268,417|
|Current|assets||220,878|491,627|712,505|
|Net assets|||2,538,427|4,870,554|7,408,981|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds<br>f|2020|
|Tangible|fixed assets|||2,498,721|2,498,721|
|Investments|||1,612,641|1,120,649|2,733,290|
|Current|assets||299,025|709,814|1,008,839|
|Net assets|||1,911,666|4,329,184|6,240,850|
|Analysis|ofchanges|in net debt||||
||||||At|
||||At1Apr2020|Cashflows|31Mar2021|
||||||6|
|Cash at|bank and in|hand|999,346|(298,746)|700,600|



## 



## 

## 

## 

|Year ended 31|"M|arch 2021|||||||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
||||||||6|F|
|Income and endowments|||||||||
|Donations and legacies|||||||||
|Donations: (other)|||||||85,352|99,572|
|Burial Ground<br>Fund|- Upkeep and funerals||||||14,563|23,360|
|Place ofworship|||||||177|9,672|
|Medical relief fund|||||||17,921||
|Poor Peoples Project|||||||1,078|2,729|
|Religious funds|||||||7,945|12,985|
|Mobed fund|||||||20,327|19,308|
|Sesquicentennial<br>Fund||for Propagation|ofZoroastrianism,||Inter-faith|and|||
|Goodwill|||||||8,000|501|
|Educational<br>fund||||||||7,499|
|Senior Citizens Home||Appeal||||||150|
|Income tax recoverable||||||||6,288|
|Bequests|||||||445,406|205,000|
|Ordinary<br>membership||subscriptions|||||1,041|1,395|
|Life membership<br>subscriptions|||||||750|2,400|
||||||||602,560|390,859|
|Investment<br>income|||||||||
|Dividend<br>Income|||||||127,580|151,164|
|Bank Interest received|||||||293|1,105|
||||||||127,873|152,269|
|Other income|||||||||
|Government<br>Grant|||||||22,923||
|Total income|||||||753,356|543,128|
|Governance costs|and expenditure||on charitable|activities|||||
|Expenditure<br>on charitable<br>activities|||||||250,999|308,721|
|Wages and salades|||||||56,032|59,596|
|Legal and professional||fees|||||8,405|7,144|
|Other office costs|||||||5,434|5,465|
|Other interest payable||and similar charges|||||215|375|
|General expenses|||||||22|82|
|Medical relief funds|||||||15,720||
|Subscription s|||||||35||
||||||||336,922|381,383|
|Total expenditure|||||||336,922|381,383|
|Net gains / (losses)|on investments||||||||
|Realised gain/(loss)|on sale of investments||||||3.276|72,542|
|Unrealised<br>gain/(loss)||on investment|||||748,421|(791,796)|
||||||||751,697|719,254|
|Net income<br>/ (expenditure)|||||||1,168,131|(557,509)|





## 

## 

## 

||||||||2021|2020||
|---|---|---|---|---|---|---|---|---|---|
||||||||6|||
|Expenditure<br>on charitable||activities||||||||
|Other Charitable expenses||||||||||
|Activities undertaken|dimctly|||||||||
|Other charitable expenses|||||||462|2,396||
|Welfare funds||||||||||
|Activities undertaken|directly|||||||||
|Welfare Funds|||||||29,148|48,902||
|Place ofworship expenses||||||||||
|Activities undertaken|directly|||||||||
|Place ofworship expenses|||||||31,651|38,473||
|Burial Ground<br>Fund -|Upkeep and funerals|||||||||
|Activities undertaken|diyectly|||||||||
|Burial Ground<br>Fund- Upkeep||and funerals|||||23,145|20,591||
|Repairs and maintenance||||||||||
|Activities undertaken|directly|||||||||
|Repairs and maintenance|||||||33,013|20,364||
|Depreciation||||||||||
|Activities undertaken|directly|||||||||
|Depreciation|||||||71,994|72,|138|
|WZCC||||||||||
|Activities undertaken|directly|||||||||
|WZCC|||||||666|||
|Educational<br>funds||||||||||
|Activities undertaken|directly|||||||||
|Educational<br>funds|||||||18,700|35,313||
|Religious funds||||||||||
|Activities undertaken|directly|||||||||
|Religious funds|||||||33,474|65,845||
|Medical Relief Funds|||||||15,720|||
|Library funds||||||||||
|Activities undertaken|directly|||||||||
|Library funds|||||||200||340|
|Sesquicentennial<br>Fund for||Propagation||ofZoroastrianism,|inter-faith|and Goodwill||||
|Activities undertaken|directly|||||||||
|Sesquicentennial<br>Fund|for Propagation||of|Zoroastrianism|||8,546|4,359||
|Governance costs||||||||||
|Olfice salaries|||||||56,032|59,596||
|Auditors<br>remuneragon|||||||5,880|5,700||
|Legal and other professional||fees|||||2,525|1,444||
|Telephone,<br>printing,<br>postage||and stationery|||||5,434|5,465||
|Bank charges|||||||215||375|
|Miscellaneous<br>expense|||||||82||82|
|Subscriptions|||||||35|||
||||||||70,203|72,662||
|Expenditure<br>on charitable||activities|||||336,922|381,383||





## 

## 

## 

## 

## 

