# **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: 1. examine the accounts under section 145 of the 2011 Act; 2. follow the procedures la id down in the general Direction given by the Commission under section 145(5)(b) of the 2011 Act; and 3. 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: - (a) which gives me reasonable cause to believe that in any material respect the requirements: - I. to keep accounting records in accordance with section 130 of the 2011 Act; 2. to prepare accounts which accord with the accounting records, comply with the accounting requirements of the 2011 Act and 3. which are consistent with methods and principles of the Statement of Recommended Practice: “Accounting and Reporting by Charities” have not been met or - (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 - 1 - 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. 2 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. 3 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| 4 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| 5 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| 6 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. 7