GUJARATI ARYA ASSOCIATION- LEICESTER REGISTERED CHARITY NO. 51 $332 ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022 Pag8 1 GUJARATI ARYA ASSOCIATION- LEICEST ACCOUNTS FOR THE EN ED 1ST DECEMBER 2022 CONTENT Charity intomiation Trustee$ Report Independent Exarninerfs Report Statement of Finanual Activits'es Balance Sh8et Notes to the aitounts 7-10 Page 2 GUJARATI ARYA ASSOCIATION - LEICESTER ¢H INFOR ATION Trust•es Bipin Chauhan Kishorbhai G Solanki N8vin C Pamar pravinDnai B P&4rtnar Pravinbhai M Parrnar Mana ement Cofflmlttee Presidèrtt VICÈ Presidènt Seeretsry Asgist. S8eretsry Treasurer ABgiSt. Treasurer Cultural Secretary Ao$L Cultutral Secrètary storek¢eper V￿nodbha1 K Ghadiali Navnit Chauhan Amratbhai J Chauhan Arvind J Chauhan Babubhai N Rathod Kokila P Parmar Kishor H Gohil Hershey Champ8ne Jagdish Gopal Charity Number 515332 Charity Communlty Centr• 49 Hildyard Road Leicester LE4 SGG Charity Offle•s 49 Hildyard Road Leicester LE4 5GG Indpendent Examlner Paresh J Parmar 8ankers National Savings Post Office Nalwest Bank plc Pagtr 3 GUJARATI ARYA ASSOCIA ION LEICESTER REPORT OF THE TRUSTEES FOR THE YEAR E OED 31ST DECEMBER 2022 The Trustees submit treii annual report and the finanaal statements for the year ended 31st December 2022 The Members have adopted the provision5 of Staternent of Re¢ommended Pra¢ti¢e ISORPI" Accounting nd Repotting by Charities" issued in March 2005. eference an dmlnls tive Infomiation Charity Name GUJARATI AFIYA A55OGIATION- LEIGEbl Cttarity Number 515332 Charity Address 49 Hildyard Road. Leicester, LE4 SGG Indpendent Examiner Paresh J Pamiar Bankers Nahyest Bank plc TRUSTEE The Trustees during the year under review were.. Kishorbhai G Solanki Pravinbhai B Parmar Bipin Chauhan Navin C Parmar PTavin M Pamar Mana ement Committee President Vice P￿Sident Secrètary Assist. Secretary Treasurer Assist. Treasurer Cultural Secretary Asst. CuStutral Secretary Storakeeper Coryo em Mrs Seema Parmar Vinodbhai K Ghadiali Navnit M Chauhan Amralbhai J Ghauhan Arvind J Chauhan Babubhai N Rathod Kokila P Parmar Kishor H Gohil Hershey Champaneri Jagdish Gopal Committeè Members Somchandbh81 V Chauhan Pravin Pa¥mar Hema Parrnar Tanuja Chauhan Mrs Induben B Rathod Mrs Ushaben S Chohan Charnpaklal M Parmar Pratibha Pamiar Hitesh Chavda Mr Ambubhai D Parmar Manilal K Chauhan Ifesigned Rashmika Jethwa Prabha Gopal Structure and Govemance Governln Document The Charty Is governed by its Conststution dated 18th October 1980 and duly amended subsequentty. The I￿al ¢)wnership of the Charity's moveable 8nd irnmovè8ble prop8rty vests with the Trustèes and the Managing Committeè is responsible for the rnanagement of day-to-day rnatters. Recruitment and Appointment of Management B02rd The Trustees an¢J the managing committee are elected every fvvo years at its annual general meeting New Trustees and rnanaging committee are elected from the membership ol the charity with due consideration taken by members as to their suitability before being elected in accor¢Jance wrth constitutr'on. Trustee Inductlon and Tralnln As all trustees rnust be members of the Charty, they are all familiar with the practical work ol the charity and ol its obiethves. Appropnate training Is provided as required lortheii ioles as Ttustees and Managing o)mmittee members. Page3A GUJARATI ARYA ASSOCIATION LEICESTER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022 Rlgk Mana ement The Trustees 8nd managing committee are aware of the risks to funding and review the situation at every TrusteeslComm1ttee meeting Appropriate plans to deal with this are irE place and are continually monitored. Procedures are also in place to monitor the Health and Safety ol all of the Charity's members an¢ all the users of the centr8 The charity 15 Open to the usual financial r15ks of any organisation an¢ cnarny nas Introour&a controls to minirnise these risks such as two signatures being required for payment from thè b8nk accounts. The treasurer provides monthly financial statements which are explained lo the management committee and are open for m8mterfs inspection at any tirne. Or anlsational truciu Gujarati Arya Association L8icester has a tiust board comprising ol elected 5 members, and rnanagernènt cornmittee of 23 elected mefflbeis who meet r8gularly and are responsible for the the strategic direction and policy of the Society. The Management Committee work as a team with a scheme of delegation in place to ensure the chanty delivers and rnaintains the services specified. Objecllves •nd Aetlvities The charivs object and Its principal 8thvity Is that of S8Twing mainly but not exclusively the social , cuttural and reluiou5 needs of Guiarab" Mochi community orvJinatiw from south wèstèrn Gujarat and now living in Leicestetshire and surrounding areas. Aehi8vem•nts and P•rfomianca The TtU5tee5 consider that the pèrfortnance of the charity this year Mas been satisfactory. Th8 Charty is gratefvl for thè efforts of its rnanagefflent committee . co opted members and other volunteers who are involvèd In providing their servic& to promote charitys objectives. It has not been possible to quantify volunteer hours provided in the yeai. Flnanclal Revlew The Statement ol Finanaal Activities shows net surplus lor the year of Details of rnovements In Fixed Assets are set out in note 8 to the Accounts. The Freehold land and buildings have not been valued but rft is maintained in good ièpair and worth substantially more than Its cost value. prtnclple Fundlng Sourc8S Funds ale collected through hinng ol the community ¢entre , organising religious and cunural fesbvals and voluntary donations to finance charty's activities Inv8Stment Policy The tru5te85 have invested monies in interest bearing deposit accounts. which th8y intend to conb'nue in the foreseeable future. Reserves Pollcy It is the policy of the chaiity to tn8int8in unrestricted funds, which a￿ the free reserves of the ch8nty at a1evèl which is required to Theet it5 objectives of approximately six months un￿$tr5ded expenditure. This provides sufficient fund5 to cover management and administrats.ve costs forth6 chanty. The Board ￿vIewS this penodically. £63,308 12021 £45,032) Page3B GUJARATI ARYA A SOCIATION ICESTER REPORT OF THÉ TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022 Plans forluture pertodg The charity plans continuing the activth'es ouuined abtsve in the ensuing years subject to obtaining satisfactory funding arrangements. Th8 Charity having purchased adjoining freehold buildings 1$ In the process of obtsining has bank boffowings. Responsibllllles of Management Boar(I STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees are rèquired LJndÈr the Charities Act 2011 to prepare financial statements for each financial year which givè a true and fair view of the financial activities of the charity and ol its financial position at the end of that year. In preparing those finanrial statements, the trusteè5 are required to select suitsble accounts'ng policies and then apply them consistenlly", - make judgements and esb"mates that are reasonable and prudent". state whether applicable accounting standarc5s and statements of recommended practice have been followed, subject to any departures disdosed and explained In the financial statements,. prepare the financial 5tslernents on the going concern basis unless It is inappropriaie to presume that the charity wll continue In operation. The trustees ai8 responsible for maintaining proper accounting records which disclose with reasonable accuracy at any lime the fi"nanrial position ol the charity and which are sufficient to show and explain the charivs transactions and to enable them to ensure that the fin8nGial Statements wrnply wth applicable law and regulations under the Charities Act They are 8150 responsible for s8feguardirig the assets of the charity and hents for taking reasonable steps for the prevents'on and detection of fraud and other irregularities The trustees are also responsible lor the contents ol the trustees report and the responsibility of the accountants in relatson to the truste•s' report is limited to examining the report and ensuring that, on the face of the report, there are no inconsistencies wrth the figures disclosed in the financial staternent5. Approval This reportwas approved by the Trust board on and signed on its behalf . 0810412024 Pravlnbhai B Pamiar Trustee Page 4 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GUJARATI ARYA ASSOCIATION LEICESTER ACCOUNTS FOR THE YEAR D31STD CEMBER 2022 I report on the accounts of Gujarati Arya Association ILeic£sterl for the year ended 31st December 2022 which ar8 Set out on pages 5 10 10 Respectlve re¥ponslbilitie5 of Trustees, Managerneni Gommilleo ExaminEr As the charity's truste85 and Management Committee you are responsible lor the preparation of the accounts.. The charity's trustees consider that an audit is not required for this ye8r lundèr se¢tson 144121 of the Charities Act 2011 Ilhe 2011 Act) and that an independent examination is needed. The Charity's gross income did not ex￿ed £SOO.000 and l am qualified to undertake the examination by being a qualifi'ed mernber of Association of Chartered Certifi'ed AC￿u￿1ants. Having been satisfi'ed that the charty is not subject to 8udit and is eligible for independent examin81ion It Is my responsibility to.. to examine the accounts under sethon 145 of the 2011 Act,. to follow the prO￿d￿re$ laid down in the General Direth"ons given by the Charity Commission undgr section 14515llbl ol the 2011 Act., and 10 state whetrer particul8r matters have come to rny attention. Ba81$ of independent examinerfs roport My exarnination was carried out In aword8nce wth the General Direction given by the Charity Comrnission An exstnination indudes a review of the accounting r8cords kept by the charity and a cofflparison of the accounts piesented wth those rectsrds. It also includes consideration of any unusual items 01 disdosure5 in the accoLJnts . and seeking explanations from you a5 trustees conceming any such fnatters. The procedures undertaken do not provide all the evidence that would be required In an audit. and consequenuy, 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 examina￿$ ststemènt In the connection wth my exatninabon, no matter has come to my attention." 111 which gives me r8asonable cause to believe that. in any matenal respect. the requirement5 to keep accounting records in accordan￿ with section 130 of the 2011 Act,. and to prepare accounts which accord with the accounting records and to comply with the accounting reqU1￿MentS ol the 2011 Act have not been met, 01 121 to which . in my opinion , attention shoul¢J be drawn in orderto enable a proper understanding of the accounts be leached. J Pamwr Ind¥ 081 xamin•r 2024 Page 5 YA CIATI LEICE TER STATEMENT OF FINANCIAL ACTIVITIES RTH YEAR E DED 31ST DECEMBER 2022 Designated Unrestricted UnFest￿Cted Notes Total 2022 Total 202 INCQME AND ENDOWMENTS FRQM Other Incomlng Resources Donations and gifts Charltable ActivttiOS Fund raising Ventures Grant re￿iVed Investm8nl incomè 1,574 1,574 1.556 99.102 99,102 48.373 27.358 Total Incom• 100.676 100.676 77,287 EXPENDITURE ON Charltable actlvlile6 Ctrntre running costs 24,609 24,609 21.439 Other expendlture Fund-raising costs 1.535 1.535 Man8gèm&nt and Administration 10,949 10,949 8,110 Govem3nce costs 275 275 275 Total RECONCILIATION OF FUNDS 37,368 37,368 29.824 NET INCOME IEXPENDITURE Balance from prevlous year 63,308 658,388 63.308 777,970 47.463 730,507 119.582 Fund8 carried forward 119.582 721,696 841,278 777.970 The notes on pa9es 7 to 10 form part of these accounts Page 6 GUJARATI ARYA SSOCIATION LEICESTER BALANCE SHEET AT 31ST DECEMBER 2022 2022 2021 FIXEO ASSETS Tangible A5setS Investment NOTES 1,104,421 12,000 1,107,136 12,000 1,116.421 1.119,136 CURRENT ASSETS Debtors Cash at bank and in hand 10 64.864 56,188 56,168 Creditorn.. amounts falling due within one year 12,153 13.328 12.153 13.328 Net ¢urrent assetsllllabllitlesl 52,711 42.840 TOTAL ASSETS Lass.. Loan TOTAL ASSETS LESS LIABILITIES 1.169,132 327,854 841,278 1.161.976 384,0(￿) 777.970 12 Represented by.. FUNDS Deslgn8t•d Unrtstriet•d funds 13 119,S82 119,582 Unr8striet•d fund8 721.896 658,388 841.278 777,970 ACCOUNTS APPROVED ON 8th APRIL 2024 ANO SIGNED ON BEHALF OF THE ASSOCIATION BY: Vinodbhai Ghadiali President Babubhai N Rathod TREASURER Amratbhai hauha HONORARY SECRETARY The r￿te$ on pages 7 to 10 form part of these accounts Page 7 GUJARATI ARYA ASSOCIATION - LEICESTER NOTES TO ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 20 1. ACCOUNTING POLICIES The prinapal accounting policies ar& 8Urnrn8ri88d below The aw)unting po1￿CleS have been applied consistenuy throughout the year and In the preTrding year. {a) Ba8È8 of aeeounting Basis of preparing the financial $tatements The finanaal statements of the charty. which Is a public benefit entty under FRS 102. have been prepared in accordance with the Charibes SORP IFRS 1021'Accounling and Reporting by Charities Statement of Retommend8d Pr2Ctice applitAble to charit*s preparing their financial statements in accordance with the Financial Reportino Standard applicable in the UK and Republic of Ireland IFRS 1021 leftective 1 January 20161., Finsncial Reporting Standard 102'The Finan¢ial Reporting Standard applicab￿ in the UK and Republic of Ireland. EfA, the an¢J the Chafrties Act 2011. The find￿GI81 statements have been prepar8d under the historical cA)st tA)nvention (bl Fund accountlng Vnrestricted fund5 are available for use at the discr￿iDn of the M8nag&m?nt Commrtt88 in furtherance ef the general objeclives of the charity Designated funds are unrestricted funds earrna￿d by the Management Committee for particu18r purposes Ourin9 the year ended 31st December 2016 restricted funds were restated a5 designated Un￿Stride￿ funds. Restricted funds are subjected to restriction5 on their expenditure itnposed by the donor or through the terms of an appeal. Icl Income All Income is ￿￿9n￿ed in the Ststament of Financial Activities once the charty has entit￿ment to the funds. it i8 probable that the inwma will be received and the amount can be measured reliably. The follown9 5peofic policEs in partiGular are appl￿￿ to Gategories of income." 111 Where Income is received by way of gtant5. donations and gift5 and is induded in full in the Statement of Financial Actiwitie5 when recewable . Grants. where entitlement i8 not conditional on delivery of a specific performanca by the charity , are r8cogni88d byhen tha charty becomes unconditienally entitled to the grant. 121 Th8 value of s8Nices provided by volunte8r5 has not been included in these fin8ncial stslemenls 131 Income from grants. where r8lated to perfortnanGe an(J spBcifi¢ deliverable5. are 8coJunt8d for as the charity earns tha roht to Cons￿eration by its performance. IGI Expenditu Liabilit￿5 are re¢a)gnis¢d as exp8nditure a$ 500n as there is 3 legal or construdw8 obligation committing the charity to that expenditure. it is probable th81 a transfer of economK benefits will be required In Sett￿ment and the amount of the obligation can be measured reliably. Expenditure is accounted for on an a¢CTua15 basis and has been classified under headings that aggregate 811 cosl related to the c2tegory.Where wsts Gannot be directly 8ttributed lo particular h8adingS they have been allccatad to activities on a basi8 consistent with the use of resources. Idl Fund accounting Unrestricted fund5 a￿ available for use al the discretion of the Management CommrtteÈ in furtheran of the g8rEral objectives of the day (are centre Designated funds a￿ un￿str￿e￿ funds eatmarked by tha Management Committee for partirAJlar purposes. Restricted funds are Subject￿ to restrictions on their expenditure imposed by the donor orthrough the tem)s of an appeal. Page 8 GUJARATI ARYA ASSOCIATION- LEICESTER NOTES TO ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022 If) TANGIBLE FIXED ASSETS AND DEPRECIATION Depreciation on fixed a5set5 have been provided on following bases in trrd8r to write off the cost over their estimated useful liv8$. Freehold land an(J buildings Property anerations Fixtu￿$ and equipment 20% Givèn the n*ure ol freehold buildings and its expected longevity, the truskes consider thè depreaats'on will be not material in respect of the year and in aggregate. Accordingty no depreciation is provided. 2Yo {gl GOVERNANCE COST5 This Includes costs ol the prepamtson and examinab'on ol statutory ac£ount5, the costs of trusteè meeb.ngs and cost ol any legal advice to trustees on govemance or constitutional matters. {hl STAFF COSTS No ￿mUneratIon was paid to trustees Volunteers were paid honoranurn In the amount of £3.13412021 £5281 3. Fund ralslng ventures 2022 2021 Incorne Irorn hall hire gross Rent rbcewable Incorn8 from reli9lOU3. SOCi81 & cultural activities Income from Yoga cla5se5 Othèr income 34,901 54.094 8.879 3.128 100 99.102 14.380 33,236 757 48,373 4. InveBtm8nt income 2022 2021 Bank Interest received 5. Dlr8ct Charfjtable expendlture Cantre running costs Volunteers honor8riurn Rates & water Light and heat Insurance Cle8ning and iefuse 8ui1ding maintenance and cleaning Depreciation 3,134 4.260 5.370 4,725 2.641 1,764 2,715 24.609 528 3,128 3,180 4,725 20 7,143 2,715 21,439 Page 9 GUJARATI ARYA ASSOCIATION - LEICESTER NOTES TO ACC UNTS FOR THE FOR THE YEAR ENDED 31ST DECEMBER 2022 6. Fund-ralsing expendlturn 2022 2021 Religious . cultural & social activities expenditure Donations rna¢e- Macmillan Appesl 289 1,240 1.535 7. Managoment and Admlnistration Postage, stationery and printing Telephone Meeting expenses Affiliation fres Legal lees Bank charges Bank loan ivterest 1,747 433 1501 2,438 1,282 6,381 10,949 6,317 8,110 Govornanc• eosts Trustees Indemnty Insuran 275 275 8. FIXED ASSETS Freehold land & bldgs Propèrty teratir)ns Fixlures & eqLSipment To￿1 Cost At 1 st January 2022 1.094,097 135,733 97,786 1,327,616 At 31st De¢ernb8r 2022 1,094,097 135,733 97,786 1.327.618 D•preciatlon At 1st January 2022 Provided in the year At 31st De￿mber 2022 122,695 2,715 125,410 97,785 220.480 2,715 223.195 97.785 Nèt book value At 31st December 2022 1.094,097 10,323 1.104.421 At 1st January 2022 1,094,097 13.038 1,107.136 Page 10 ARATI ARYA ASSOCIATION_ LEICESTE NOTES TO ACCOUNTS FOR THE FOR THE YEAR ENDED 31ST DECEM8ER 2022 Invesbnont 2022 2021 1 Super'A' Share In G A A (Let￿ster) Limited of £1.000 ead) 19'A' Shares In G A A l Leice51erl Llfflitea oi £svo eaGn 15'B' Shar85 in G A A l Lei￿st￿rI Limited of £100 each 1,000 1,000 9.600 12021 15 B'I 1.500 12,000 The ch8rity holds shares In GM (Leicesterl Limited , a company incorporated in England whose membership Is restri¢led lo the Charity's members only. The company was specifically lomied to raise fvnd3 from it5 5har¢ issue 8nd to assist Chanty to purchase its Freehold land and buildings. 1.500 12,000 9. DEBTORS AND PREPAYMENTS 2022 2021 Due within one year 10. CASH AT BANK AND IN HAND Cash at bank and building society 64.864 64.864 56,168 56,168 11 CREDITORS.. amounts falllng du• wlthon on• y￿r Trade creditors Hall hira daposits Eye camp donations 8,470 3.462 221 12,153 4,162 221 13,328 12 CREDITORS- amounts falllng due after one year Natwest Bank loan Loall from G.A A. l Leicester l Limrted 124,254 203,600 327,854 180.406 203,600 384,008 13. FUNDS- DESIGNATED UNRESTRICTED FUND Building Fund Total Balance 8t 1st January 2022 Balance at 31st De￿rnber 2022 119,582 119,582 119,582 119,582 13. FUNDS- UNRESTRICTED FUND Balance at 1st January 2022 Net surplus Balance at 31st Decembèr 2022 658,388 63.308 721,696