INDIAN COMMUNITY ASSOCIATION
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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 2024, 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
20 November 2024
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INDIAN COMMUNITY ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES
| 2024 Note £ INCOMING RESOURCES Grants receivable 1 7,905 ICA activities 4 17,088 Donations 1,169 Refund HMRC 2,962 Interest received 969 30,093 RESOURCES EXPENDED Administrative 2 25,227 Establishment 3 7,742 ICA activities 4 3,778 Depreciation 6 5,909 42,656 NET INCOMING RESOURCES 9 (12,564) Balance at 1 April 2023 233,423 Balance at 31 March 2024 220,860 FOR THE YEAR ENDED 31 MARCH 2024 |
2023 £ 7,388 36,885 601 - 594 |
|---|---|
| 45,468 | |
| 31,435 6,126 22,835 6,010 |
|
| 66,406 | |
| (20,938) 254,361 |
|
| 233,423 |
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 2024
| Note TANGIBLE FIXED ASSETS 6 CURRENT ASSETS Debtors 5 Cash at bank and in hand 7 CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS NET ASSETS FUNDS 9 Restricted Unrestricted |
2024 2023 £ £ 130,352 136,261 100 100 91,009 97,612 91,109 97,712 (601) (550) 90,508 97,162 220,860 233,423 235,000 235,000 (14,141) (1,577) 220,860 233,423 |
2024 2023 £ £ 130,352 136,261 100 100 91,009 97,612 91,109 97,712 (601) (550) 90,508 97,162 220,860 233,423 235,000 235,000 (14,141) (1,577) 220,860 233,423 |
|---|---|---|
| 233,423 | ||
| 235,000 (1,577) |
||
| 233,423 |
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 2024
| 1. Grants Receivable Unrestricted: Reading Borough Council Wokingham Borough Council 2. Administrative Expenses Salaries and national insurance Telephone Printing, postage and stationery Parking Accounts examination 3. Establishment Expenses Repairs and maintenance Light and heat Insurance Water charges Cleaning and waste disposal Membership |
2024 £ - 7,905 7,905 23,795 676 45 11 700 25,227 453 4,820 1,284 432 703 50 7,742 |
2023 £ - 7,388 |
|---|---|---|
| 7,388 | ||
| 30,078 676 73 8 600 |
||
| 31,435 | ||
| 3,733 950 1,218 42 183 144 |
||
| 6,270 |
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INDIAN COMMUNITY ASSOCIATION
NOTES TO THE ACCOUNTS: YEAR ENDED 31 MARCH 2024
| 4. ICA Activities INCOME Hire of hall Social activities and outings Senior Citizen / Elderly Club Health Activities Health and fitness Elderly After School Care (ASC) Wellbeing event (supported by RVA) EXPENSES Senior Citizen Wellbeing Club After School Care Club Health and fitness (others) Social events and outings 5. Debtors Hire of hall Consortium membership fee |
2024 £ 8,093 - 7,828 601 566 - - 17,088 3,370 - 408 - 3,778 - 100 100 |
2023 £ 5,361 17,831 6,108 731 - 1,854 5,000 |
|---|---|---|
| 36,885 | ||
| 1,543 455 3,140 17,697 |
||
| 22,835 | ||
| - 100 |
||
| 100 |
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INDIAN COMMUNITY ASSOCIATION
NOTES TO THE ACCOUNTS: YEAR ENDED 31 MARCH 2024
6. Tangible Fixed Assets
| COST At 1 April 2023 Additions As at 31 March 2024 DEPRECIATION At 1 April 2023 Charges As at 31 March 2024 NET BOOK VALUE As at 31 March 2024 As at 31 March 2023 7. 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 |
||
| 145,319 67,072 206,381 5,607 302 5,909 |
||
| 150,926 67,374 218,300 |
||
| 129,447 905 130,352 |
||
| 135,054 1,207 136,261 |
||
| 73,361 17,703 (55) 91,009 |
72,392 25,298 (78) |
|
| 97,612 |
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INDIAN COMMUNITY ASSOCIATION
8.
9.
| Creditors: Amounts falling due within one year | 2024 | 2023 | |
|---|---|---|---|
| £ | £ | ||
| Advance receipts: | |||
| Reading Borough Council | - | - | |
| Wokingham Borough Council | - | - | |
| ICA activities | - | - | |
| Accruals | 601 | 550 | |
| 601 | 550 | ||
| Funds | Unrestricted | Restricted | Total |
| Balance at 1 April 2023 | (1,577) | 235,000 | 233,423 |
| Net movements in incoming resources | (12,564) | - | (12,564) |
| Balance at 31 March 2023 | (14,141) | 235,000 | 220,860 |
The restricted funds relate to Building £205,000, Pension £10,000 and Provision For Staff Redundancy £20,000.
10. 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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