REGISTERED COMPANY NUMBER: 01574594 (England and Wales) REGISTERED CHARITY NUMBER: 284745
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2021
for
ANGLO-INDIAN CIRCLE LIMITED
Ace Associates (UK) Limited T/A Ace Accountants 44 Hartford Avenue Kenton Middlesex HA3 8SY
ANGLO-INDIAN CIRCLE LIMITED
Contents of the Financial Statements for the Year Ended 31 March 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 10 |
| Detailed Statement of Financial Activities | 11 | to | 12 |
ANGLO-INDIAN CIRCLE LIMITED
Report of the Trustees for the Year Ended 31 March 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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
Objectives and aims
The objectives for which the charity is established are:
-
To promote any charitable purposes in particular the relief of poverty, hardship, hunger and distress;
-
the advancement of education and research;
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the promotion of the Hindu religion.
In all aspects of the work undertaken by the charity the trustee have had regard to the guidance of the Charity Commission on public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity carries out a range of activities in pursuance of its charitable aims.
The Trustees consider that the activities, summarised below, provide benefits to the members of the local community.
Health, Education & Welfare:
The charity runs badminton sessions (every week) at a local sports centre and during the year it saw a steady increase of take up in this activity. These sessions offer a focal point for members of the local community and help to improve the health and wellbeing of the users.
Religious activity: The Charity celebrated Festival of Diwali and held one spiritual session.
Community Support Activities: The charity continues to assist small local groups by providing free use of its premises and offering advice and guidance.
Merger / Dissolution
Sangat Avice Centre activities merged with Anglo Indian Cirlce on 1 April 2020 following Trustees approval for the merger and Dissolution. Anglo Indian Circle and Sangat Advice Centre, have been established for exclusively charitable purposes.
Both Charities have similar purposes, aims and objectives. Covid 19 impacted Charity activities during the year but some activities were performed under the guidance from health authorities.
The Aim:
The aim is to better meet the needs of the beneficiaries and users of both the charities and make best use of their charitable funds and property.
Sangat Advice Centre has merged with Anglo-Indian Circle and both will operate under one brand - Sangat Centre - by dissolving and transferring the assets to Anglo-Indian Circle on 1 April 2020. It was approved to merge all Assets and Liabilities of Sangat Advice Centre Ltd with Anglo Indian Circle Ltd on 01/04/2020.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a Constitution, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
01574594 (England and Wales)
Page 1
ANGLO-INDIAN CIRCLE LIMITED
Report of the Trustees for the Year Ended 31 March 2021
Registered Charity number 284745 Registered office 28a Sancrft Road Harrow Middlesex HA3 7NS
Trustees D Shah Mrs V Varsani H B M Karsan P Ranpura Director H Patel Director Ms D Champaneria Director Company Secretary K Nagda
Independent Examiner Vijay Amin FCCA Ace Associates (UK) Limited T/A Ace Accountants 44 Hartford Avenue Kenton Middlesex HA3 8SY
Approved by order of the board of trustees on 8 November 2021 and signed on its behalf by:
P Ranpura - Trustee
Page 2
Independent Examiner's Report to the Trustees of ANGLO-INDIAN CIRCLE LIMITED
Independent examiner's report to the trustees of ANGLO-INDIAN CIRCLE LIMITED ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FCCA which is one of the listed bodies.
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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Vijay Amin FCCA Ace Associates (UK) Limited T/A Ace Accountants 44 Hartford Avenue
Kenton Middlesex HA3 8SY
9 November 2021
Page 3
ANGLO-INDIAN CIRCLE LIMITED
Statement of Financial Activities for the Year Ended 31 March 2021
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities 2 Investment income 3 Other income Total EXPENDITURE ON Raising funds Charitable activities Charity Governance costs Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 49,108 73,566 6,000 201,185 329,859 322 118,437 14,195 132,954 (1,520) 195,385 1,005,433 1,200,818 |
Restricted fund £ - - - - - - - - - - - - - |
31.3.21 Total funds £ 49,108 73,566 6,000 201,185 329,859 322 118,437 14,195 132,954 (1,520) 195,385 1,005,433 1,200,818 |
31.3.20 Total funds £ 716 101,850 8,873 - 111,439 2,062 108,316 13,571 123,949 (2,400) (14,910) 1,020,343 1,005,433 |
|---|---|---|---|---|
The notes form part of these financial statements
Page 4
ANGLO-INDIAN CIRCLE LIMITED
Balance Sheet 31 March 2021
| Notes FIXED ASSETS Tangible assets 8 Investments 9 CURRENT ASSETS Prepayments and accrued income Cash at bank and in hand CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
Unrestricted fund £ 454,344 90,285 544,629 3,410 661,786 665,196 (9,007) 656,189 1,200,818 1,200,818 |
Restricted fund £ - - - - - - - - - - |
31.3.21 Total funds £ 454,344 90,285 544,629 3,410 661,786 665,196 (9,007) 656,189 1,200,818 1,200,818 1,200,818 1,200,818 |
31.3.20 Total funds £ 459,027 91,805 550,832 539 549,394 549,933 (95,332) 454,601 1,005,433 1,005,433 1,005,433 1,005,433 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 5
continued...
ANGLO-INDIAN CIRCLE LIMITED
Balance Sheet - continued
31 March 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 8 November 2021 and were signed on its behalf by:
D Shah - Trustee
P Ranpura - Trustee
The notes form part of these financial statements
Page 6
ANGLO-INDIAN CIRCLE LIMITED
Notes to the Financial Statements for the Year Ended 31 March 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and Buildings - 2% on cost. It was agreed not to depreciate the asset in this year. Plant and machinery etc -20% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| Hire of Hall Fees |
31.3.21 £ - 73,566 73,566 |
31.3.20 £ 3,910 97,940 |
| 101,850 |
continued...
Page 7
ANGLO-INDIAN CIRCLE LIMITED
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
3. INVESTMENT INCOME
| 3. | INVESTMENT INCOME | ||
|---|---|---|---|
| 31.3.21 | 31.3.20 | ||
| £ | £ | ||
| Investment income | 3,517 | 3,842 | |
| Deposit account interest | 2,483 | 5,031 | |
| 6,000 | 8,873 | ||
| 4. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 31.3.21 | 31.3.20 | ||
| £ | £ | ||
| Depreciation - owned assets | 13,322 | 498 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Staff No employees received emoluments in excess of £60,000. 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities Investment income Total EXPENDITURE ON Raising funds Charitable activities Charity Governance costs |
ACTIVITIES Unrestricted fund £ 716 101,850 8,873 111,439 2,062 108,316 13,571 |
31.3.21 2 Restricted fund £ - - - - - - - |
31.3.20 2 Total funds £ 716 101,850 8,873 |
||
|---|---|---|---|---|---|
| 111,439 2,062 108,316 13,571 |
continued...
Page 8
ANGLO-INDIAN CIRCLE LIMITED
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
| 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 8. TANGIBLE FIXED ASSETS COST At 1 April 2020 Additions At 31 March 2021 DEPRECIATION At 1 April 2020 Charge for year At 31 March 2021 NET BOOK VALUE At 31 March 2021 At 31 March 2020 |
ACTIVITIES - Unrestricted fund £ 123,949 (2,400) (14,910) 1,020,343 1,005,433 Freehold property £ 557,016 - 557,016 100,262 6,684 106,946 450,070 456,754 |
continued Restricted fund £ - - - - - Fixtures and fittings £ 23,119 8,639 31,758 20,846 6,638 27,484 4,274 2,273 |
Total funds £ 123,949 (2,400) (14,910) 1,020,343 1,005,433 Totals £ 580,135 8,639 588,774 121,108 13,322 134,430 454,344 459,027 |
|
|---|---|---|---|---|
Included in the cost of the freehold property is land valued by the directors at £222,806. No depreciation has been provided on this amount.
There is a charge on the property in favour of Millennium Commission and the London Borough of Harrow in respect of grants received.
continued...
Page 9
ANGLO-INDIAN CIRCLE LIMITED
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
9. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Unlisted | |
| investments | |
| £ | |
| MARKET VALUE | |
| At 1 April 2020 | 91,805 |
| Revaluations | (1,520) |
| At 31 March 2021 | 90,285 |
| NET BOOK VALUE | |
| At 31 March 2021 | 90,285 |
| At 31 March 2020 | 91,805 |
There were no investment assets outside the UK.
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.3.21 | 31.3.20 | |
|---|---|---|
| £ | £ | |
| Trade creditors | - | (1) |
| Amounts owed to group undertakings | - | 84,126 |
| Other creditors | 6,257 | 6,257 |
| Accrued expenses | 2,750 | 4,950 |
| 9,007 | 95,332 |
11. MOVEMENT IN FUNDS
Within the general fund two amounts have been designated by the trustees for specific purposes: 2021 2020 Sangat Centre Building Fund 348,623 348,623 Building maintenance 35,740 50,000
12. RELATED PARTY DISCLOSURES
All assets and liabilities of Sangat Advice Centre Ltd, a charity with common Trustees merged with Anglo Indian Circle Ltd, net asset value of £200,885 on 01/04/2020.
Page 10
ANGLO-INDIAN CIRCLE LIMITED
Detailed Statement of Financial Activities for the Year Ended 31 March 2021
| Detailed Statement of Financial Activities for the Year Ended 31 March 2021 |
||
|---|---|---|
| 31.3.21 | 31.3.20 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | (3) | 1 |
| Donations | 560 | 715 |
| Grants | 48,551 | - |
| 49,108 | 716 | |
| Other trading activities | ||
| Hire of Hall | - | 3,910 |
| Fees | 73,566 | 97,940 |
| 73,566 | 101,850 | |
| Investment income | ||
| Investment income | 3,517 | 3,842 |
| Deposit account interest | 2,483 | 5,031 |
| 6,000 | 8,873 | |
| Other income | ||
| Sundry Income | 300 | - |
| Income from Sangat A Centre | 200,885 | - |
| 201,185 | - | |
| Total incoming resources | 329,859 | 111,439 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Hall Hire | 322 | 1,662 |
| Donations | - | 400 |
| 322 | 2,062 | |
| Charitable activities | ||
| Wages | 76,683 | 76,683 |
| Social security | 4,158 | 5,201 |
| Postage and stationery | 2,053 | 3,717 |
| Yoga Class Cost | 510 | 3,020 |
| Social Activities | 395 | 8,305 |
| 83,799 | 96,926 | |
| Support costs | ||
| Management | ||
| Rates and water | 532 | 241 |
| Carried forward | 532 | 241 |
This page does not form part of the statutory financial statements
Page 11
ANGLO-INDIAN CIRCLE LIMITED
Detailed Statement of Financial Activities for the Year Ended 31 March 2021
| Detailed Statement of Financial Activities for the Year Ended 31 March 2021 |
||
|---|---|---|
| 31.3.21 | 31.3.20 | |
| £ | £ | |
| Management | ||
| Brought forward | 532 | 241 |
| Insurance | 1,551 | 1,275 |
| Light and heat | 3,415 | 2,368 |
| Telephone | 1,375 | - |
| Sundries | 241 | 178 |
| Cleaning | 1,980 | 2,911 |
| Repairs and Renewals | 2,174 | 1,923 |
| Subscriptions | - | 492 |
| Building Maintenance cost | 14,260 | - |
| 25,528 | 9,388 | |
| Finance | ||
| Bank charges | 2 | 2 |
| Credit Card Charges | 1,424 | 1,500 |
| 1,426 | 1,502 | |
| Other | ||
| Travel and Subsistence | 1,000 | 500 |
| Governance costs | ||
| Accountancy fees | 1,750 | 1,950 |
| Legal fees | 1,290 | 1,290 |
| Secretarial services | 10,625 | 9,685 |
| Computer and Consumable Cost | - | 148 |
| Freehold property | 6,684 | - |
| Fixtures and fittings | 530 | 498 |
| 20,879 | 13,571 | |
| Total resources expended | 132,954 | 123,949 |
| Net income/(expenditure) before gains and | ||
| losses | 196,905 | (12,510) |
| Realised recognised gains and losses | ||
| Realised gains/(losses) on fixed asset investments | (1,520) | (2,400) |
| Net income/(expenditure) | 195,385 | (14,910) |
This page does not form part of the statutory financial statements
Page 12