INDIAN COMMUNITY ASSOCIATION
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
INDIAN COMMUNITY ASSOCIATION
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
INDIAN COMMUNITY ASSOCIATION
I report on the accounts of Indian Community Association for the year ended 31 March 2022, which are set out on pages 2 to 7.
Respective responsibilities of trustees and examiner:
The charity’s trustees are responsible for preparation of the accounts. They consider that an audit is not required for this year under section 14 4(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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follow the procedures la id down in the general Direction given by the Commission under section 145(5)(b) of the 2011 Act; and
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state whether particular matters have come to my attention.
Basis of independent examiner's report:
My examination was carried out in accordance with the general direction given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a true and fair view·and the report is limited to those matters set out in the next statement.
Independent examiner's statement:
In connection with my examination, no matter has come to my attention:
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(a) which gives me reasonable cause to believe that in any material respect the requirements:
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I. to keep accounting records in accordance with section 130 of the 2011 Act;
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of the 2011 Act and
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which are consistent with methods and principles of the Statement of Recommended Practice: “Accounting and Reporting by Charities” have not been met or
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(b) to which. in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Bettridge & Co Chartered Accountants
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INDIAN COMMUNITY ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES
| 2022 Note £ INCOMING RESOURCES Grants receivable 1 39,435 Subscriptions 2 - ICA activities 5 3,445 Donations 151 Interest received 7 43,038 RESOURCES EXPENDED Administrative 3 27,800 Establishment 4 2,400 ICA activities 5 749 Depreciation 7 6,144 37,093 NET INCOMING RESOURCES 10 5,945 Balance at 1 April 2021 248,416 Balance at 31 March 2022 254,361 FOR THE YEAR ENDED 31 MARCH 2022 |
2021 £ 70,165 - 2,034 122 29 |
|---|---|
| 72,350 | |
| 26,230 5,058 25,536 6,323 |
|
| 63,147 | |
| 9,203 239,213 |
|
| 248,416 |
The revenue and expenses above relate wholly to Unrestricted Funds.
The notes on pages 4 to 7 form part of these accounts.
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INDIAN COMMUNITY ASSOCIATION
BALANCE SHEET AS AT 31 MARCH 2022
| Note TANGIBLE FIXED ASSETS 7 CURRENT ASSETS Debtors 6 Cash at bank and in hand 8 CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS NET ASSETS FUNDS 10 Restricted Unrestricted |
2022 2021 £ £ 142,271 148,415 100 100 112,490 100,451 112,590 100,551 (500) (550) 112,090 100,001 254,361 248,416 235,000 235,000 19,361 13,416 254,361 248,416 |
2022 2021 £ £ 142,271 148,415 100 100 112,490 100,451 112,590 100,551 (500) (550) 112,090 100,001 254,361 248,416 235,000 235,000 19,361 13,416 254,361 248,416 |
|---|---|---|
| 248,416 | ||
| 235,000 13,416 |
||
| 248,416 |
Approved by the Board of Trustees on …...................... and signed on its behalf by:
Harish Raichura
Chairman
Ashwani K Gupta Treasurer
The notes on pages 4 to 7 form part of these accounts.
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INDIAN COMMUNITY ASSOCIATION
NOTES TO THE ACCOUNTS: YEAR ENDED 31 MARCH 2022
| 1. Grants Receivable Unrestricted: Reading Borough Council Reading Borough Council Business Rates Support Wokingham Borough Council CV19 Job Retention Scheme 2. Subscriptions Consortium members Associate members 3. Administrative Expenses Salaries and national insurance Telephone Printing, postage and stationery Staff training, travelling and courses Accounts examination Bookkeeping 4. Establishment Expenses Repairs and maintenance Light and heat Insurance Water charges Cleaning and waste disposal Membership |
2022 £ 17,000 - 7,055 15,380 39,435 - - - 26,358 750 72 - 620 - 27,800 700 556 1,182 (258) 76 144 2,400 |
2021 £ 8,250 10,000 6,850 45,065 |
|---|---|---|
| 70,165 | ||
| - - |
||
| - | ||
| 25,120 527 83 - 500 - |
||
| 26,230 | ||
| - 1,773 1,802 1,030 309 144 |
||
| 5,058 |
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INDIAN COMMUNITY ASSOCIATION
NOTES TO THE ACCOUNTS: YEAR ENDED 31 MARCH 2022
| 5. ICA Activities INCOME Hire of hall Arts and cultural activities Senior Citizen Club Health and fitness After School Care (ASC) Social events and outings EXPENSES Senior Citizen Club Arts, cultural and language After School Care Club Health and fitness Social events and outings 6. Debtors Hire of hall Consortium membership fee |
2022 £ 2,900 - - 545 - - 3,445 - - 164 585 - 749 - 100 100 |
2021 £ 1,020 - 285 - 729 - |
|---|---|---|
| 2,034 | ||
| 10,618 - 14,918 - - |
||
| 25,536 | ||
| - 100 |
||
| 100 |
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INDIAN COMMUNITY ASSOCIATION
NOTES TO THE ACCOUNTS: YEAR ENDED 31 MARCH 2022
7. Tangible Fixed Assets
| COST At 1 April 2021 Additions As at 31 March 2022 DEPRECIATION At 1 April 2021 Charges As at 31 March 2022 NET BOOK VALUE As at 31 March 2022 As at 31 March 2021 8. Cash at bank and in hand National Westminster Bank plc Business Reserve Current account Cash in hand |
Equipment, Freehold Furniture, Property & Others Total £ £ £ 280,373 68,279 348,652 - - - |
Equipment, Freehold Furniture, Property & Others Total £ £ £ 280,373 68,279 348,652 - - - |
|---|---|---|
| 280,373 68,279 348,652 |
||
| 134,105 66,132 200,237 5,607 537 6,144 |
||
| 139,712 66,669 206,381 |
||
| 140,661 1,610 142,271 |
||
| 146,268 2,147 148,415 |
||
| 71,799 40,649 42 112,490 |
71,792 28,617 42 |
|
| 100,451 |
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INDIAN COMMUNITY ASSOCIATION
9.
10.
| Creditors: Amounts falling due within one year | 2022 | 2021 | |
|---|---|---|---|
| £ | £ | ||
| Advance receipts: | |||
| Reading Borough Council | - | - | |
| Wokingham Borough Council | - | - | |
| ICA activities | - | 50 | |
| Accruals | 500 | 500 | |
| 500 | 550 | ||
| Funds | Unrestricted | Restricted | Total |
| Balance at 1 April 2021 | 13,416 | 235,000 | 248,416 |
| Net movements in incoming resources | 5,945 | - | 5,945 |
| Balance at 31 March 2022 | 19,361 | 235,000 | 254,361 |
The restricted funds relate to Building £205,000, Pension £10,000 and Provision For Staff Redundancy £20,000.
11. Accounting Policies
The following accounting policies are used consistently with items that are considered material in relation to the charity's accounts:
Basis of accounting: The accounts are prepared under the historical cost convention.
Income and expenses: The income and expenses are stated using the "accrual" concept in accordance with the Statement of Recommended Practice for charity accounts.
Depreciation : Depreciation is provided at an annual rate of 25% on all tangible fixed assets under the reducing balance method, except for freehold property, which is depreciated at an annual rate of 2% on a straight line basis.
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