2020-12-31-accounts

KANNADA BALAGA (UK)

UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31st DECEMBER 2020

Charity Number - 326572

Harold Smith Chartered Accountants St Asaph & Criccieth

KANNADA BALAGA (UK)

CONTENTS

	Page
Trustees Report	1 - 2
Independent Examiner's Report	3
Statement of Financial Activities	4
Balance Sheet	5
Notes to the Accounts	6 - 9

KANNADA BALAGA (UK) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees present their report with the financial statements of the charity for the year ended 31st December 20120 The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.

Charity Registration Number: 326572 Principal address: 16 Homefield Road Radlett Hertfordshire WD7 8PY

Trustees: Dr Sumana Narain Vidyarani Mysore Puttaraju Savitha Suresh Praveen Thyrappa Neil Talgeri Dr Harish Malappa Bhandari Dr Gish Nagaraja Rao Vashista Dr Madhusudhan Thayur Raghavendra Savitha Heggere Ganganna Rajeev Metri Sneha Aravind Kulkarni

Independent Examiner

Harold Smith Chartered Accountants, Unit 32 Llys Edmund Prys, St Asaph Business Park, St Asaph, Denbighshire LL17 OJA

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The charity is controlled by its governing documents, a deed of trust, and constitutes an unincorporated charity.

Internal control and 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.

1

KANNADA BALAGA (UK) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

OBJECTIVITIES AND ACTIVITIES

Objectives and Aims

• i) To promote, facilitate, organise, and participate in cultural, educational and other charitable activities for the benefit of Kannadigas resident in the United Kingdom and/or in India. Revitalise and revive Indian traditions including, and in particular, the traditions of Karnataka among its members, the future generation and the local community who are interested in Indian culture.

• ii) To advance the education of the public in the subject of Kannada Language, Kannada Literature, Karnataka’s art, culture, tradition, music, sport in the United Kingdom and India. This will be undertaken by organising suitable events in various parts of UK and/or through our publications. Where necessary specialist talent from UK or abroad shall be invited to perform/talk in those events.

• iii) For poverty alleviation in India and in particular in Karnataka by providing: grants, items and services to individuals in need and/or charities, or other organisations working to prevent or relieve poverty.

• iv) The relief of financial need and suffering among victims of natural or other kinds of disaster in the form of money (or other means deemed suitable) for persons, bodies, organisations and/or countries affected.

• v) To advance in life and help young people through:

• The provision of recreational and leisure time activities provided in the interest of social welfare.

• Providing support and activities, which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.

Reserves Policy

The accumulated funds have different allocation. There is a charity donation fund. The interest earned will be used to make regular charitable donation from next year which is sustainable as we won't be touching capital. It is in line with one of the objectives stated.

As per minutes of meeting of 1988 AGM, there is a desire to have our own premises (Karnataka Bhavana) from the accumulated fund but it is still a long way to go. Our members also want to have a milestone event on 40th and 50th anniversary of the organisation for which we need huge amount of funds saved.

An amount of £5,000 is to be retained to cover costs in the event of Kannada Balage UK being dissolved

............................................... (Chair of Board of Trustees) Dr Madhusudhan Thayur Raghavendra

Date: ......................................

2

INDEPENDENT EXAMINERS' REPORT TO THE TRUSTEES OF KANNADA BALAGA (UK)

I report on the accounts of Kannada Balaga (UK) for the year ended 31 December 2020 which comprise the statement of financial activities and Balance sheet and the related notes.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

• ●examine the accounts under section 145 of the 2011 Act,

• to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act, and

• ●to state whether particular matters have come to my attention.

Basis of independent examiner’s statement

My examination was carried out in accordance with General Directions 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 statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention

1. which gives me reasonable cause to believe that in, any material respect, the requirements:

2. to keep accounting records in accordance with section 130 of the Charities Act; and

3. to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Charities Act have not been met; or

4. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

................................................... Simon Murray-Williams FCA for and on behalf of Harold Smith Chartered Accountants St. Asaph Business Park Denbighshire LL17 0JA

Dated …………………............

3

KANNADA BALAGA (UK)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Unrestricted Restricted See Funds Funds Total Note 2020 £ £ £ Incoming resources Donations and legacies 25,410 25,410 Charitable activities 3,075 3,075 Investments 6,267 6,267 Total Incoming resources 3 34,753 - 34,753 Resources expended Raising funds - - Charitable activities 40,752 40,752 Governance Costs 912 912 Total resources expended 4 41,664 - 41,664 Net incoming/ (outgoing) resources (6,911.46) - (6,911.46) Other recognised gains/(losses) Gains and losses on investment assets - - - Net movement in funds (6,911.46) - (6,911.46) Total funds brought forward 125,935 5,241 131,176 Total funds carried forward 119,024 5,241 124,265	Unrestricted Funds 2019 £ 18,174 18,685 7,821
	44,680 35,603 21,065 852
	57,520
	(12,840) -
	(12,840) 144,015
	131,176

4

KANNADA BALAGA (UK) BALANCE SHEET AS AT 31 DECEMBER 2020

Note Current assets Debtors 6 Cash at UK banks Cash at State Bank of India 8 Current Liabilities 7 Net current assets Total assets less current liabilities Funds of the Charity 10 Creditors: amounts falling due within one year	£ £ 500 18,173 105,592 124,265 - - 124,265 124,265 124,265 2020	2019 £ 500 30,659 111,464
	124,265 -	142,623 11,448
	-	131,175
		131,175
		131,176

5

KANNADA BALAGA (UK) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

1 Basis of preparation

Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.

No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP). No material prior year error have been identified in the reporting period (3.47 FRS 102 SORP).

2 Accounting Policies

Recognition of incoming resources

These are included in the Statement of Financial Activities (SoFA) when:

• the charity becomes entitled to the resources;

• it is more likely than not that the trustees will receive the resources; and

• the monetary value can be measured with sufficient reliability.

Grants and donations

Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP).

Tax reclaims on donations and gifts

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

Volunteer help

The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

Liability recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Governance costs

Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.

6

KANNADA BALAGA (UK) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

3 Donations and legacies Donations Subscriptions Charitable activities Ugadi Deepavali Investment Bank interest received Total Incoming Resources 4 Raising funds Ugadi Deepavali Charitable Activities Postage, Stationary & Advertising Donations Insurance Website costs Professional fees Profit/loss on foreign currency Bank charges Bank Payments - Events Governance Costs Accountancy Fees Total Resources Expended Analysis of Incoming Resources Analysis of Resources Expended	Unrestricted Restricted Total £ £ £ 25,410 - 25,410 - - - 25,410 - 25,410 - - - 3,075 - 3,075 3,075 - 3,075 6,267 - 6,267 34,753 - 34,753 Unrestricted Restricted Total £ £ £ - - - - - - - - - - - - 16,408 - - 1,340 - 1,340 24 - 24 - - - - 72 - 72 22,908 - 22,908 40,752 - 40,752 912 912 912 - 912 41,664 - 41,664	2019 £ 11,074 7,100
		18,174
		8,233 10,452
		18,685
		7,821
		44,680
		2019 £ 13,036 22,568
		35,604
		20 444 1,926 69 - 6,233 - 12,374
		21,065
		852
		852
		57,521

7

KANNADA BALAGA (UK) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

5 Trustee Expenses

No trustee expenses were paid

6	Debtors
				2020	2019
				£	£
	Gift Aid tax rebate			-	-
	Tax refund - Bank Interest (India)			-	-
	Prepayments			500	500
				500	500
7	Creditors: amounts falling due within one year
				2020	2019
				£	£
	Other Creditors			-	-
	Accruals			852	852
				852	852
8	Cash at State Bank of India
		2020			2019
		£	₹		£	₹
	Cash at bank	105,592	10,530,674		111,464	10,485,795
9	Independent examiner's fee
				2020	2019
				£	£
	Independent examiner's fee for reporting on the accounts			912	852

10 Movement of Funds

	Balance	Incoming	Outgoing	Gains and	Balance
Fund Name	B/F	Resources	Resources	losses	C/F
	£	£	£	£	£
Unrestricted Fund	125,935	34,753	41,664	-	119,024
Restricted Fund - Deenabandu	3,116	-	-	-	3,116
Restricted Fund - Coorg	2,125	-	-	-	2,125
	131,176	34,753	41,664	-	124,265

Restricted Fund - Deenabandu . This is donations received from individuals specifically for the Deenabandu orphanage, an organisation located in the State of Karnataka, South India.

Restricted Fund - Coorg - This is donations for flood relief in Coorg (Karnataka state in India)

8