REGISTERED CHARITY NUMBER: 289648
Trustees' Report and
Unaudited Financial Statements for the Year Ended 31 December 2023
for
Asian Foundation for Help
Preston Accountants Limited. Chartered Certified Accountants
1 Carlton Parade Preston Road Wembley Middlesex HA9 8NE
Asian Foundation for Help
Contents of the Financial Statements for the Year Ended 31 December 2023
| Page | |||
|---|---|---|---|
| Trustees' Report | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | ||
| Notes to the Financial Statements | 6 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
Asian Foundation for Help
Trustees' Report for the Year Ended 31 December 2023
The trustees are pleased to present their report for the year ended 31 December 2023 for the charity, Asian Foundation For Help with Charity Number 289648.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Charity raises funds to be used for various good causes, including for the blind, elderly, sick and underprivileged people, in all parts of the world where there is a great need for resources and financial support.
The Charity holds special events by way of Kathas and Bhajans throughout the year to help raise funds for these good causes.
Public benefit
The Charity help raise funds for eye camps, cow protection, child education, food for the homeless and hospital equipments, to name but a few good causes, for people living in areas where there is a great need for resources and financial support.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Charity continues to attract an increasing number of followers each year. This year was no exception, with many devotees taking part in special events to raise funds for existing and new charitable causes.
The Charity has held Kathas and Bhajans to help raise funds for eye camps, cow protection, child education, food for the homeless and hospital equipment, to name but a few good causes, for people living in areas where there is a great need for resources and financial support.
FINANCIAL REVIEW
Financial position
The charity regularly hold meetings to discuss the accounts, new and existing donation requests and to discuss future fund raising events. The charity has worked hard this year in raising funds and the costs have been well managed over this period.
Reserves policy
It is the policy of the Charity to maintain unrestricted funds so that it can offer a faster response to new and existing charitable causes, with a minimum reserve for organising and setup costs. Special events are organised throughout the year to raise funds for new and existing causes.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
The existing trustees are responsible for the recruitment of new trustees but in so doing the trustees seek the views and recommendations of both elders and community leaders. The trustees believe this approach ensures that new trustees are respected members of the faith and local communities and ensures that good relations are fostered between the Charity and the people of the local community that we serve.
In selecting new trustees, we seek to identify people who regularly attend events and functions organised by the charity and are willing to volunteer to help in our broader community work. Potential trustees are invited to attend trustees' meetings as observers and are given more details of the charity's aims and activities and, if all agree, they are then proposed as new trustees at the subsequent trustees' meeting. This process allows due consideration of the person's eligibility, personal competence, specialist knowledge and skills.
Page 1
Asian Foundation for Help
Trustees' Report
for the Year Ended 31 December 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees have made no risk related investments. A formal review is undertaken regularly to ensure that all surplus funds are invested in bank and building society accounts at best rates of interest.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
289648
Principal address
38 The Highlands Edgware Middlesex HA8 5HL
Trustees
V Kotecha N Kotecha G Patel Ms A Ruparelia K Mehta B Kotak Mrs P Purryag H Popat
Independent Examiner
Murtaza Visram Preston Accountants Limited. Chartered Certified Accountants 1 Carlton Parade Preston Road Wembley Middlesex HA9 8NE
Approved by order of the board of trustees on 24 September 2024 and signed on its behalf by:
G Patel - Trustee
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Independent Examiner's Report to the Trustees of Asian Foundation for Help
Independent examiner's report to the trustees of Asian Foundation for Help
I report to the charity trustees on my examination of the accounts of Asian Foundation for Help (the Trust) for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the 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 member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
Murtaza Visram
Preston Accountants Limited. Chartered Certified Accountants 1 Carlton Parade Preston Road Wembley Middlesex HA9 8NE
24 September 2024
Page 3
Asian Foundation for Help
Statement of Financial Activities
for the Year Ended 31 December 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 202,703 Investment income 3 5,875 Total 208,578 EXPENDITURE ON Raising funds Raising donations and legacies 4 - - Charitable activities 5 For Generating Voluntary Income 2,156 National and International Donation 135,300 Other 1,512 Total 138,968 NET INCOME/(EXPENDITURE) 69,610 RECONCILIATION OF FUNDS Total funds brought forward 245,103 TOTAL FUNDS CARRIED FORWARD 314,713 |
Restricted fund £ 100,304 - 100,304 17,688 17,688 - 129,077 - 146,765 (46,461) 46,461 - |
31.12.23 31.12.22 Total Total funds funds £ £ 303,007 229,342 5,875 33 308,882 229,375 17,688 6,455 17,688 6,455 2,156 1,594 264,377 223,832 1,512 3,142 285,733 235,023 23,149 (5,648) 291,564 297,212 314,713 291,564 |
|---|---|---|
The notes form part of these financial statements
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Asian Foundation for Help
| Statement of Financial Position 31 December 2023 Notes CURRENT ASSETS Debtors 9 Cash at bank CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 12 Unrestricted funds Restricted funds TOTAL FUNDS |
31.12.23 £ 52,442 263,567 316,009 (1,296) 314,713 314,713 314,713 314,713 - 314,713 |
31.12.22 £ 34,221 258,639 292,860 (1,296) 291,564 291,564 291,564 245,103 46,461 291,564 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 24 September 2024 and were signed on its behalf by:
G Patel - Trustee
The notes form part of these financial statements
Page 5
Asian Foundation for Help
for the Year Ended 31 December 2023
Notes to the Financial Statements
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
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.
- Fixtures and fittings - 25% on reducing balance
Taxation
The charity is exempt from 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.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
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continued...
Asian Foundation for Help
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
2. DONATIONS AND LEGACIES
| Unrestricted funds £ Donations 184,481 Gift aid 18,222 Donation - Restricted - 202,703 3. INVESTMENT INCOME Unrestricted funds £ Deposit account interest 5,875 4. RAISING DONATIONS AND LEGACIES Unrestricted funds £ Support costs - 5. CHARITABLE ACTIVITIES COSTS For Generating Voluntary Income National and International Donation |
Restricted funds £ (42,119) - 142,423 100,304 Restricted funds £ - Restricted funds £ 17,688 |
31.12.23 Total funds £ 142,362 18,222 142,423 303,007 31.12.23 Total funds £ 5,875 31.12.23 Total funds £ 17,688 |
31.12.22 Total funds £ 63,833 38,727 126,782 |
|---|---|---|---|
| 229,342 | |||
| 31.12.22 Total funds £ 33 31.12.22 Total funds £ 6,455 Direct Costs £ 2,156 264,377 |
|||
| 266,533 |
continued...
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Asian Foundation for Help
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
6. SUPPORT COSTS
Raising donations and legacies
Other £ 17,688
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
8. TANGIBLE FIXED ASSETS
9.
| TANGIBLE FIXED ASSETS | ||
|---|---|---|
| Fixtures | ||
| and | ||
| fittings | ||
| £ | ||
| COST | ||
| At 1 January 2023 and 31 December 2023 | 6,846 | |
| DEPRECIATION | ||
| At 1 January 2023 and 31 December 2023 | 6,846 | |
| NET BOOK VALUE | ||
| At 31 December 2023 | - | |
| At 31 December 2022 | - | |
| DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Other debtors | 52,442 | 34,221 |
continued...
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Asian Foundation for Help
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors 11. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted fund £ Current assets 316,009 Current liabilities (1,296) 314,713 12. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Restricted Fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Restricted Fund TOTAL FUNDS |
Restricted fund £ - - - At 1.1.23 £ 245,103 46,461 291,564 Incoming resources £ 208,578 100,304 308,882 |
31.12.23 31.12.22 £ £ 1,296 1,296 31.12.23 31.12.22 Total Total funds funds £ £ 316,009 292,860 (1,296) (1,296) 314,713 291,564 Net movement At in funds 31.12.23 £ £ 69,610 314,713 (46,461) - 23,149 314,713 Resources Movement expended in funds £ £ (138,968) 69,610 (146,765) (46,461) (285,733) 23,149 |
|---|---|---|
continued...
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Asian Foundation for Help
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds Restricted Fund TOTAL FUNDS Comparative net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Restricted Fund TOTAL FUNDS |
At 1.1.22 £ 295,647 1,565 297,212 Incoming resources £ 102,593 126,782 229,375 |
Net movement At in funds 31.12.22 £ £ (50,544) 245,103 44,896 46,461 (5,648) 291,564 Resources Movement expended in funds £ £ (153,137) (50,544) (81,886) 44,896 (235,023) (5,648) |
|---|---|---|
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
14. FUND STRUCTURE
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.
The following specific policies are applied to particular categories of income:
Voluntary income is received by way of donations is recognised on receipt or accrued as income as soon as practical and prudent to do so.
Income from charitable activities include fees receivable from donors and is credited in the same year as the relevant income.
All expenditure is accounted for on an accrual basis and is reported as part of the expenditure to which it relates: Costs of generating funds comprise the costs associated with attracting voluntary income.
Charitable activities include all costs that are allocated between expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to particular activities are allocated directly, others on an estimated usage basis.
continued...
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Asian Foundation for Help
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
15. INDEPENDENT EXAMINER'S REMUNERATION
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Examination of the financial statements | 1,080 | 1,080 |
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Asian Foundation for Help
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
| Detailed Statement of Financial Activities for the Year Ended 31 December 2023 |
||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 142,362 | 63,833 |
| Gift aid | 18,222 | 38,727 |
| Donation - Restricted | 142,423 | 126,782 |
| 303,007 | 229,342 | |
| Investment income | ||
| Deposit account interest | 5,875 | 33 |
| Total incoming resources | 308,882 | 229,375 |
| EXPENDITURE | ||
| Charitable activities | ||
| Donations made | 135,300 | 141,946 |
| Donations made - Restricted | 129,077 | 81,886 |
| Postage and stationery | - | 744 |
| Sundry expenses | 131 | 50 |
| Bank charges | 2,025 | 800 |
| 266,533 | 225,426 | |
| Other | ||
| Accountancy fee | 1,296 | 1,296 |
| Website Expenses | 216 | - |
| Printing | - | 1,846 |
| 1,512 | 3,142 | |
| Support costs | ||
| Other | ||
| Hall hire | 17,688 | 6,250 |
| Fixtures and fittings | - | 205 |
| 17,688 | 6,455 | |
| Total resources expended | 285,733 | 235,023 |
| Net income/(expenditure) | 23,149 | (5,648) |
This page does not form part of the statutory financial statements
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