COMPANY REGISTRATION NUMBER: 2173760 CHARITY REGISTrATION NUMBER: 519620 Smethwick Asra Limited Company Limited by Guarantee Financial Statements 31 March 2024
Smethwick Asra Limited Company Llmltsd by Guarantee Financial Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the directors, report) Report of the Independent Auditors to the members Statement of financial activities (including income and expenditure account) Statement of financial position ststement of cash flows 13 14 16 Notes to the financial statements 16 The followlng pages do not form part of the flnanclal 8tatsments Detailed ststement of financial activities 26 Notes to the detsiled statement of financial activities 28
Smethwick Asra Limited Company Llmitsd by Guarantee Trustees, Annual Report (Incorporating the Directors, Report) Year ended 31 March 2024 The trustees, who are also the directors for the purposes of company law, present their report and the financial ststements of the charity for the year erKled 31 March 2024. Strateglc report The followlng sections for achievements and perfomiance and financial VIeW fonn the strategic report ofthe charity. Achievements and performance How Our Activities Deliver Publlc Benefrt The trustees have complied with their duty to h&te due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties. We have continued to provide care for those who need support viith their daily living via our domlciliary care service. Vthat matters is that Asian elderly suffering with poor health and disabilities get help as quickly as possible? Thanks to ASRA'S workers and managers, people have received uninterrupted services throughout the year. Our domiciliary care service provided to 48 elderly and disabled peop has been improving the quality of life for the service users who are often terminally ill, recovering from a major operation, strokes or heart attacks, or who are permanendy disabled. The seriice supports and assists the carers and families in personal and domestic tasks and tries to share the burden of lookin9 after someone 24 hours a day. In the last financial year, we provided nearly 10,000 hours of home care to elderly and disabled service users. We have continued to provide care services for those suffering with poor health and disabilities and need support with their daily living. The activitias of the day centres include transport, meals, exercise sessions, alternative therapy and health promotiornlprevention sessions. Our day care service provided over 7000 places during the year.
Smethwick Asra Limited Company Limltsd by Guarantee Trustses. Annual Report (Incorporating the Directors, Report) (confknued) Year ended 31 March 2024 Achi•voments and perfonnance (conunuod) 202312024 was an excellent year for A8ra. We finalty overcame the challenges of Covid and moved forward, We have been able to maintaln and improve our perfomiance and have delivered our best- ever financial result, underlining the tremendous progress made. We have increased our Total Incoming Resources (tumover) such that it exceeded £1 mlllion for the first time in ASRA'S hlstory. Our total surplus for the year is in excess of £100,000. Agaln, another record for the charfty. However, we contlnue to administer the charity on a very lean basis wfth low overheads thus enabllng us to concentrate our expenditure on delivering core Servlces. Our main priorities remalned unchanged: contract compliance Increasing servlce levels, improvlng service delivery, Improvlng vrt?rkforce skills and knowledge. Despite the chaInge5, we have adhered to our plan and lald a strong platfomi for growth. We have examined every spending declslon, forged new Gontracts and partnerships, found gateways to new suppllets and moved resource8 Out of inefficlent or dedlning Income arrears and into growth opportunities. Our Project Dlrector Javed Parvez and hls Management Team rlghtly deserve pralse for their perseverance and tenaclty through the many challenges faced. IVS a testsment to the resourceful nature and hard work of our management team We would also Ilke to acknowledge the contrlbutlon of the Team at Accuo Accountlng Ltd which assisted, monitored and scrutlnlsed all aspects of Income and expenditure Independently of the charlty's management. We have been stretched over the past few years. The county has moved from the uncertalnty of the Pandemlc stralght into a cost-of-living Grisis, thus creating extra financlal burdens on our service users and families. Thls is reflected In the income from private care packages and room hlre, where we experienced a decrease in our Income. Throughout the year have ensured the results of our decisions have been affordable. sustainable and fully support our seNice users and their families. We are deeply rooted in the community we serve. We were overwhelmed by the community response to our Turkey and Syria earlhquake appeal that we organised. Our work is entirely locally led, and it authentlcally reflects the energy, fun and positivity that staff and servlce users bring every day. In 2023r2024 our fiagship venue, the Health and Social care centre came Into its own. The Smethwick building has been a unlque asset for Asra for many years. We have also invested in maintsining the building in order to keep it fit for purpose and provide welcorning facilities for our vlsltors, staff, service users and members of the publlc. The refurbishment is now complete. In additlon to belng home to the Day care and Domicillary sepiices. the building hosts an ever- expanding diversified range of events including regular church sessions on Sundays. We intend recommencing private event hire for the local communty, whlch had to cease during Covid years. Other events include Drop4n session for the local community as well as health promotionlawareness sessions. We have taken meanlngful steps lo reduce our cartx)n footprints, from earbon measurement to energy efficiency measures (E.S lights) arKI decarbonising transport. We are in the process of installing Solar panels at our Smethwick site. We have sought greater information and financial support so we could invest in the green transition.
Smethwlck Asra Llmited Company Llmited by Guarantee Trustees, Annual Report (Incorporating the Directors, Report) {¢ondnuedJ Year ended 31 March 2024 Achievements and perfommnce (¢ondnued) Once again we would like to record our appreciation for the continued financial support of Birmingharn and Sandwell LA'S. We have slarted to create a strong dlgital presence in order to distribute information and reach out to supporters, potential donors and to increase the public's perceptions and awareness. We are also in the process of preparing a detailed comprehenslve business development plan that identifies the relationship betr•4een the existing social care provision and need to establish new services. The plan will propose a programme to identify needs in both structural and infra-structural aas, management requirements, and to develop appropriate financial strategy. Financial revlew The majority of our income is derlved mainly from contracts with Local Authorities and a proportion from private individuals and from long and short-term letting of our Smethwick premises. All of the charity's Income Is dlrected tovmrds the provision of its core services of day care and domicillary care the trustees consider all Income to be unrestricted in its use. In a previous year a donation of £1.400 was recelved to be used for a paty. This money has not yet been spent and is carried foDAiard to a future year. Total income for the year increased from £981,558 In 2023 to £1,109,272 In 2024. Thls Is a result partly of the recovery from the effects of the pandemic but also reflects the growing need for our services. Total expenditure also increased, from £939,520 In 2023 to £1,004,613 In 2024. The net result was 8 surplus for the year of £104,659 (2023: £42,038). This amount has been added to reserves to assist in developing future seNices. Free reserves, ie those not comprising fixed assets stood at £282,317. Investments We consider the best use of resources is to invest in our seNices, whether existing or potential new ones. Consequently there a no plans to place funds in long-term investments. The only investments we may make are short-term deposits eaming interest.
Smethwick Asra Limited Company Limited by Guarantse Trustees, Annual Report (Incorporating the Directors, Report) (contlnuod) Year ended 31 March 2024 Flnanclal review (¢pnllnuedJ Reserv The board has examined the company's requirements for reseNes in the light of the main risks to the charity. The unrestricted funds not committed or invested in tangible fixed assets are needed to meet the working capital requirements of the charity. The board are aware of the need to create significant free reserves to be able to sustain the current activities of the charity in the event of a significant drop in funding and are working towards this. There are initial plans regarding additional services that might be provided depending upon funds being available. Our aim is to continue to build resources from planned operating surpluses. The Treasurer reviews the reseNes policy on a monthty basis ensuring that the normal day to day activities are not hindered. There is no speufic arrnunt of reserves considered necessary by the board and finance committee, which ryfftts quartety, and the intention is that they have at their disposal: Budget and actual for the cuThent year. Budget for the rExt year. Monthly bank reconciliations and bank balar$. Reports from all relevant departsnents. Objectives and actlvities The principal activity is the provision of health and care services to all needy, elderfy. disabled and families. particularty but not exclusNely of Asian origin, in the West Midlands Area. As an ancillary activity, assistance is also gNen on appropfiate social, recreational and educational matters. The principal activty fulty refiects the purposes the charity 4Yas set up to further. The main polrcies adopted to achieve our aims and thus further our charitable purposes for public benefit have been by the provision ot. 1. Day Care, mainly in association with Adult and Communty Services for Birmingham, Dudley and Sandwell Local Authorities, for eklerty and disabled people at our ntreS at Fenton Stree( Smethwi and Poplar Road, Sparkbrook 2. Domiciliary Care, mainly in association with Adult and Communty Services Sandwell, for elderly and disabled people and those suffering frorn chronic illnesses. The charity is registered with the Care Quality Commission under the Care Standards Act 2008. 3. The rental of offices and associated facilities to Communty Organisalions. 4. Facilities for community and private social functions. 5. Facilitses for BlacklAfrican thurches for Sunday services. 6. Facilities for Woman only educationallhealth sessions. Vvhere neSary the trustees have had assistsrtt from qualified advisors and professionals in the community.
Smethwick Asra Limited Company Limlted by Guarantee Trustees, Annual Report (Incorporating the Directors, Report) {conUnu¢d) Year ended 31 March 2024 ObJectlve8 and activttl88 {condnuedJ We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous twelve months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aims, objectives and activities remain focussed on our ststed purposes. Structurn. governance and management We are a charitable company limited by guarant88, Incorporated on 5th October 1987 and registered as a charity on 11th December 1987. The company was established under a Memorandum of Association which sets out the objects and powers of the charitable company and is govemed under its Articles of Associatlon. In the evenl of the company being wound up members are required to contribute an amount not exceeding £1. Our governance structure is an integral part of the way we delNer our obligations and strategy, supporting effective decision making. There Ss a depth of experience amongst members who are responsSble for Asra's strateglc direction and sustslnability. We are dedicated to a hlgh stsndard of governance and follow best practlce for guldance. There currently four board members forming a good cross-sectlon of communlty represantation. Generally all members are actlve In the community and are professional working people. Thelr backgrounds cover busSne8s and eduGatlon, local government, constructlon, and community and care development fields. The current trustees are shown on page 6, All have served throughout the year. No new trustees have been appointed for a number of years but some potentlal new trustees have been identified and approached and It Is hoped that these will bg appolnted at the forthcoming Annual General Meeting {AGM) in October 2024. The following trustees retire but will stand for re-appolntment at the forthcomlng AGM; Mrs Sangeeta Mehra-currently chair of trustees Mr Mohammed Salim<urrently Treasurer For the purposes of company law the trustees are the directors of the company. They glve thelr time voluntarily and receive no remuneration or benefits from the company In their role as trustees. Board meetings are held quarterty or More frequently when necessary and the board is responslble for the strategic direction and policy of the charty. A scheme of delegatlon Is In place and day to day responsibility for the provision of the services rests with the Projects Director together wlth the Registered Care Manager. The Projects Director Is responsible for ensuring that the charlty delivers the services specified and that the key performance indicators are met. The Registered Care Manager is responsible for the operation of care services, Local Authority contract compliance, rnaintenance of Care Quality Stsndards, management of the staff team and also ensuring that the team continue to develop their skills and worklng practlces in order to deliver high quality seNices. The board of trustees has the responsibility for ensurlng that the organisation has in place an appropriate syslem of control, financial and otherwise to prov5de asOnable assurance that the charity Is operatlng efficlentty and effectively; Its assets are safeguarded against unauthorised use or disposition; that proper records are maintained and financial infomiation used within the chatity for publScation is reliable; and the charity complies with relevant laws and regulations.
Smethwick Asra Limited Company Limitsd by Guarants8 Trustees. Annual Report (Incorporating the Directors. Report) (¢ontlnued) Year ended 31 March 2024 Structurn. governance and management (contlnu•d) It is the role of the Treasurer to examine the effectiveness of the systems of intemal financial control on behalf of the board so that any swnificant firKlings or identified risks can be acted upon. Systems of financial control are designed to provide reasonable, but not absolute assurance against material mis-statement or loss. The current business plan includes: An annual budget for approval by the board. Regular consideration by the board of actual sUlts compared wlth budgets and forecasts. Delegation of authority to spend vAthin clearfy defined limits. Identification and management of financial risks by the board and Ilne manageff*nL As the charty grows additional intemal controts will be introduced to support the current structur8. Ex•cutlv• managom•nt Day to day rnanagement18 delegated to the senior management leam whlch consists of J PaNez (Executive Director) S Kaur (Care Manager) T Kundi (Reglstered Care Manager) R•f•reneé and admlnl8trntlv• detall8 Reglstsr•d charfty name Smethwlck Asra Limited Charlty reglstratlon number 519820 Company reglstrallon number 2173760 Prlnclpal office and rngl8tored ASRA Health and Social Care Centre office Fenton street Smethwick West Midlands 866 1HR Tho tru8ts•8 Mrs S Mehra-chair Mr l Marwaha-secretary Mr M SaliM-TUrer Mr S Singh Audltor8 Malcolm Wllcox & Co Chartered Certified P£countants Hagley House 93 Hagley Road Binningham 816 8LA Bankers Lloyds Bank plc
Smethwick Asra Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directors. Report) (¢onJnu¢d) Year ended 31 March 2024 Solicitor8 Excello Law Lirnited Two Sn¢ywhill BinTJingham B4 6GA Trustees. rnsponslbllitles statement The trustees, who are also directors for the purposes of company law. are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United lfjngdom Generalty Accepted Accounting Practick). CTrpany law requires the charity trnstees io prepare financial ststements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resour, induding the income and eXpIlUre. frjr that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then appty them consislenuy; observe the methods and principles in the Charities SORP 2019 (FRS 102); make judgments and accounting estimates that are reasonable and pruden(. state whether applicable UK Accounting Standards have followed, subject to any material departures disclosed and explained in the financial statements: prepare the financial statements on the going concem basis unless it is inapproprlate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to sh¢)w and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the chaiity and enable them to ensure that the financial statements compty with the Companies Act 2006. They are also responsible for safeguarding assets of the chanty and hence for taking reasonable steps for the preventi and deiection of fraud and other irregularities. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's Memorandum & Articles of Association, the Companies Act 2006 and the provisions of the Statement of Recommended Practice {SORP), applicable to Charities preparing their accounts in accordance with the Financial Reporting StarKlard applicable in the UK and Republic of Ireland (FRS102) published in October 2019 The company qualffies as a small company under SectKin 383 of the Companies Act 2006.
Smethwick Asra Limited Company Limitsd by Guarantee Trustees, Annual Report (Incorporating the Directors. Report) (widnuodj Year ended 31 March 2024 Auditor8 Each of the persons who is a trustee at the date of approval of this report confimis that so far as they are aware, there Is no relevant audit infomiatlon of vthich the charitable company's auditors are unaware; and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit Information and to establlsh that the charltable company's audltors are aware of that information. The auditors are deemed to have been ra-appointed in accordance with sectlon 487 of the Companles Act 2008. The trustees, annual report and the Strateglc report were approved on 30 September 2024 and signed on behalf of the board of trustees by, SME A (MRS) Chalr
Smethwick Asra Limited Company Limited by Guarantee Report of the Independent Auditors to the Members of Smethwick Asra Limited Year ended 31 March 2024 Oplnlon We have audlted the flnancial statements of Smethwlck Asra Limited (the 'charitable company,) for the year ended 31 March 2024 which comprise the statement of financial activities (including income and expenditure account), statement of financial posltlon, statement of cash flows and the related notes, including a summary of slgnificant accounting policles. The financial reporting framework that has been applied in their preparation Is appllcable law and United Kingdom Accounting Stsndards, Including FRS 102 The Flnancial Reporung Standard applicable In the UK and Republic of Ireland (Unitsd Kingdom Generally Accepted Accountlng Practlce). In our oplnlon the financial statsments: glve a true and fair vlew of the stste of the charitable company's affalrs as at 31 March 2024 and of Its incoming resources and application of resources, including its income and expenditure, for the year then ended; have been properfy prepared In accordance with United Klngdom Generally Accepted Accounting Practice; have been prepared In accordance wlth the requlrem8nts of thg Companles Act 2006. Ba818 for oplnlon We conducted our audit in accordance wlth Internatlonal Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the auditors, responsibilitles for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial ststements in the UK, Includlng the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wlth these requirements. We believe that the audit evidence we have obtained is sufficlent and approprlate to provide a basis for our oplnion. Concluslons relatlng to golng concern In auditing the financial ststements, we have concluded Ihat the Irustees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any materlal uncertalnties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least Iwelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going Concern are described in the televant sections of this report.
Smethwick Asra Limited Company Limited by Guarantse Report of the Independent Auditors to the Members of Smethwick Asra Llmlted (¢ondnued) Year ended 31 March 2024 Other Informatlon The other infomiation comprises the infomiation included in the annual report, other than the financial statements and our audilors, report thereon. The trustees are responsible for the other inforrnation. Our opinion on the financial statements does not cover the other information and, except to the extent othepwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statemenls. our responsibility is to read the other information and, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the autjrt or otherwise appears to be materially misststed. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other infomiation. If. based on the work we have perfomed, we conclude that there is a material misstatement of this other information, we are required to report that fact We have nothing to report in this regard. Oplnlons on other matt•rn prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit the infomiation given in the trustees, report for the financial year for which the financial statements are prepared is consistent with the financial statements; and the trustees, report has been prepared in accordance with applicable legal requirements. Matters on vthlch we ar? required to report by exception In the light of the knowledge and understanding of the charitable company and its environrnent obtained in the course of the audit, we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been recdved from branches not visited by us; or the financial statements are not in agreement viith the accounting records and retums; or certain disclosures of trustees, remuneration specified by law are not made. or we have not recelved all the information and explanations we require for our audit. 10-
Smethwick Asra Limited Company Limited by Guarantee Report of the Independent Auditors to the Members of Smethwick Asra Limited (conllnuedj Year ended 31 March 2024 Responsibilities of trustees As explained more fully in the trustees, responsibilities ststement, the trustees (who are also the directors for the purposes of company law) are ponSIble for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's abilty to continue as a going concern. disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Auditor8, respon8lbllltles for the audlt of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misststement, whether due to fraud or error, and to issue an auditors, report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misststements can arise from fraud or error and are considered material if, individually or in the aggregate, they coukl reasonably be expected to influence the economic decisions of users taken on the basis of these financial StateEnts. Irregularities, including fraud, are instances of non-compliance with lavLs and regulats'ons. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. The audit process includes an assessment of the entity's risk environment, through enquiry of and discussion with management and those charged with govemance, including an assessment of any key laws and regulations with which the charitable company must comply in the ordinary course of its operations. Additionalty, the overall risks of Irregular transactions occurring are assessed following our observats'ons and confirmation of the design and implementation of management's controls. Whilst we are Mindful of these risks, our audit focus is geared towards the risk of material misstaternent in the financial statents as a whole. As such, our procedures cannot guarantee that all transactions have been fully compliant with all revant laws and regulations, including those regulations relating to fraud, as our procedures are not designed lo detect all instances of non-compliance. By definition, the risk of our detection of non- compliance is greater where compliance with a law of regulation is removed from the events and transactions reflected in the financial statements. The risk is also greater regarding irregularities due to fraud rather than error, as fraud Involves intentional concealment, forgery, collusion, omission or misrepresentation. 11
Smethwick Asra Llmited Company Llrnitsd by Guarantee Report of the Independent Auditors to the Members of Smethwick Asra Limitsd (condnuedj Year ended 31 March 2024 A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description forms part of our auditors, reporL Malcolm HJ Willcox FCCA Senior Statutory Auditor Malcolm Willcox & Co Chartered Certified Accountants & Re9iStered Auditors Hagley House 93 Hagley Road Birmingham B16 8LA 1 October 2024 12-
Smethwick Asra Llmited Company Limited by Guarantee Statsment of Financial Activities (including income and expenditure account) Year ended 31 March 2024 2024 Unrestricted Restricted funds funds Total funds Total funds 2023 Income and endowments Donations arKI legacies Charitable activities Other trading activilies Investrnent incorr 2,498 1,097,715 7,310 1,749 1,109,272 2A98 1.097.715 7.310 1.749 1.109.272 4,374 955,714 21,320 150 Total Incom• 981,558 Expendfture Expenditure on charitable activibes Totsl expendlture 9,10 1,004,613 1,004,613 1.004.613 939,520 1.004.613 939,520 Net Income and net movement In funds 104,659 104.659 42,038 Reconciliation of funds Total funds brought forward Total funds carrled forward 505.830 610.489 1.400 507.230 611,889 465,192 507,230 1.400 The statement of financial activities indudes a51 gains and losses recognised in the year. All Income and expenditure derive fr(xn continuing actsVits. The notes on page8 16 to 24 forni part of these flnanclal statements. 13-
Smethwick Asra Limlted Company Limited by Guarantee Statement of Financial Position 31 March 2024 2024 2023 Note Foxed assets Tangible fixed assets 17 329,572 324,459 Current assets Debtors Cash at bank and in hand 18 128,176 228,188 356,364 169.805 104,993 274,798 Credltors: amounts falllng due wlthln one year Net current assets 19 74,047 92,027 182,771 507,230 507,230 282,317 611.889 611.889 Total assets less current liabilities Net ass•ts Fund8 of the charlty Restricted funds Unrestrtcted funds 1,400 610,489 611.889 1.400 505.830 Total charfty funds 22 507,230 These financial ststements were approved by the board of September 2024, and are signed on behalf of the board by: rustees and authorised for issue on 30 SMEH (MRS) M SALIM Chair Trustee (Treasurer) The notes on pages 16 to 24 fom part of these financlal statements. -14-
Smethwick Asra Limited Company Limitsd by Guarantse Ststsment of Cash Flows Year ended 31 March 2024 2024 2023 Cash flow8 from operatlng actlvltles Net income 104.669 42,038 Adjustments for. Depreciation of tangible fixed assets Government grant incorne Dividends. interest and rents from investments Interest payable and similar charges Accrued income 14,942 5,368 (300) (150) 970 (18,764) (1,749) 1,838 1717) Changes In." Trade and other debtors Trade and other creditors 40,162 (15,786 143,339 33,008 (17,605) 44,565 Cash generated from operations Interest pald Net cash from operatSng actlvltles (1.838) 141.501 {970) 43,595 Cash flow8 from Inve8tlng actlvltle8 Dividends, interest and rents from Investments Purchase of tangible assets Proceeds from sale of tangible assets Net cash used in investing actlvlti88 1,749 (20,480) 425 150 (2,800) 118.306) (2,650) Cash flows from flnanclng aetlvltles Government grant income Net cash from financing activities 300 300 Net Increas8 In cash and cash oqulvalent8 Ca8h and cash equlvalents at beglnnlng ol year Cash and cash eqmlvalonts at end of year 123,195 104.993 228,188 41,245 63,748 104,993 The note8 on pages 16 to 24 fomi part of these finanelal statsmonts. 15-
Smethwick Asra Limited Company Limited by Guarantee Notes to the Flnanclal Statements Year ended 31 March 2024 General Infomiation The charity is a public benefit entty and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is ASRA Health and Social Care Centre. Fenton Street, Smethwick. West Midlands, B66 1HR. ststemont of compllan¢8 These financial statements have been prepared In compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to Charities preparlng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. A¢¢ounting pollcles Basis of preparatlon The financial statements have been prepared on the historical cost basis. Going Concern There are no material uncertainties about the charity's abilty to contlnue. Judgements and key sources of estimation uncertalnty The preparation of the financial statements requires management to make judgements, estlmales and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements In the opinion of the trustees there are no Judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies that have a significant effect on the amounts recognlsed In the financt81 statements. Key sources of estimation uncertainty Accounting estimates and assumptions are made conceming the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financlal year are as follows: That the depreciation provlded on the leasehold properties and other assets is neither excessive or insufficient in relation to actual impairment suffered. The carrying values of the assets are £329,572. That the service debtors, having made allowances for disputes and bad debts are recoverable at the stated carrying value of £124,102. -16-
Smethwick Asra Limited Company LAmited by Guarantee Notss to the Flnanclal Statements f¢ondnued) Year ended 31 March 2024 Accountlng pollGle3 (¢onthiuedJ Fund accountlng Unrestricted funds are avallable for use at Ihe dlscretlon of the trustees to further any of the charity's purposes. Restrlcted funds are subjected to restrictlons on thelr expenditure declared by the donor or through the terms of an appeal and fall Into one of Iwo sub-classes.. restricted income funds or endowment funds. There are currently no restricted funds held. Incomlng re80urce8 Income All income is included in the statement of financlal acVItIeS when the charlty Is entitled to the Income, any perfomianee related condltlons attached have been met or a fully within the control of the charity, the income is consldered probable and the amount can be quantified w5th reasonable accuracy. The following speclfic pollcies are applled to particular categories of income: Donations and legacy income is recelved by way of donadons, legacies, grants and glfts and is included in full in the Statement of Flnancial Actlvltles when receivable. Grants, where entitlement is not conditional on the delivery of a specific perft)rmance by the charity, are recognised when the Charity becomes unconditionally entitled to the grant. Investment Income, Sncluding Income from property letting and r(rnlre Is Included when recelvable. Re8ource8 •xpended Expendltura Expenditure is recogntsed on an accNals basls as a liability is Incurred. Expenditure Includes all VAT as this cannot be recovered, and is reported as part of the expenditure to whlch it relates: Costs of raising funds Comprise the costs associated wSth attracting donations, grants and legacies and the costs of trading for fundraislng purposes. Charitable expenditure comprises those costs incurred by the charity In the dellvery of its activities and services for its beneficiarles. It includes both costs that can be allocated directly to such activities and those costs of an Indirect nature necessary to support them. Other expenditure includes all expenditure that is nelther related to raising fund8 ft>r the charity nor part of Its expenditure on charltable activitles. All costs are allocated between the expendlture categorles of the SOFA on a basis deslgned to reflect the use of the resource. Costs relatlng to a partlcular activity are allocated dlrectjy, others are apportioned on an approprlate basis. Tanglble a88et8 Tanglble assets are inltially recorded at cost, and subsequently ststed at cost less any accumulated depreciation and Impalmnt losses. 17-
Smethwick Asra Limited Company Limited by Guarantee Notss to the Financial Stataments (condn4ffjd) Year ended 31 March 2024 Accountlng pollcles {conllntMd) Depreclatlon Depreciation is calculated so as to wrile off the cost or valuation of an asset, less Its residual value, over the useful economic life of that asset as follows: Long Leasehold Fumiture Motor Vehicles Office Equipment Short Leasehold Over the temi of the lease-125 years 25% straight line 33% straight line 25% straight line Over the term of the lease Impalrment of fixed a88el8 A review for indicators of impairment is carrd out at each reporting date, with the recoverable amount belng estimated Whe such indicators exisL ere the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prlor impaimients are also reviewed for possible reversal at each reporting date. Govemm•nt grnnts Government grants are recognlsed at the fair value of the asset recelved or receivable. Grants are not recognised until there Is aSonable assurance that the charlty will comply wSth the condltions attaching to them and the grants will be received. Ithere the grant does not impose specified future perforniance-related conditions on the recipient. It Is recognised in income when the grant proceeds are receNed or receivable. lthere the grant does impose specified future performance-related conditions on the recipient, It Is recognised in Income only when the perforManCelated conditions have been met. Where grants receNed are prior kn satisfying the revenue recognltion crlterla, they are recognised as a Flnanclal Instruments A financial assel or a financlal liability18 recognised onty when the entity becomes a paty to the ¢ontractual provisions of the instrumenL Basic financial lnstrUffnts are initially recognised at the amount receivable or payable including any related transactlon costs. Current assets and current liabilities are subsequentty measured at the cash or other consideration expected to be paid or received and not discounted. Defined eontrlbutlon plan8 Contributions to defined Contribut plans are recognised as an expense in the period In which the related serylce is provided. Prepaid contribulions are recognised as an asset lo the extent that the prepayment will lead to a reduction in fijture payrr*nts or a cash refund. Llmltsd by guarantee The company is limited by guarantee. In the event of a windlng up or dlssolution of the company mernberfs liability is limited to £1 each. At 31 March 2024 there were 4 members. -18-
Smethwick Asra Limited Company Limited by Guarantee Notes to the Financlal Statements (contlnupdj Year ended 31 March 2024 Donatlons and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 FurKIs 2023 Donatlons Donations 3.600 3.600 Grdnts Govemment grant income 300 300 Other donations and legacles Sundry income 2.438 474 474 2,498 2.498 4,374 4,374 Charltable actlvltles Unrestrted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Day and home care seryices 1,097,715 1.097.715 955,714 955.714 Other tradlng actlvltles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Letting and licensing 7,310 7.310 21,320 21.320 Investment Income Unrestrted Total Funds Unrestricled Total Funds Funds 2024 Funds 2023 Income from cash investrnents 1,749 1.749 150 150 Expendltsre on charitable activltles by fund ty Unrestricted Total Funds Unrestricted Totsl Funds FurKIs 2024 Funds 2023 Home and day care Support costs 933.077 71,536 933,077 71,536 872.705 66,815 939.520 872,705 66.815 1.004.613 1.1x14,613 939,520 -19-
Smethwick Asra Limited Company Limited by Guarantee Notes to the Flnanclal Statements (eonthuedj Year ended 31 March 2024 10. Exponditure on charltable activities by activity type Activilies undertaken directy Support Total funds 2024 Totsl fund 2023 Home and day care Govemance costs 933.077 61.948 9.588 995,025 9,588 1,004.613 936,150 3,370 939,520 933.077 71.536 11. Anaty818 of 8UPPOrt costs Care Costs Total 2024 Total 2023 Slaff costs Finance costs Governance costs 61,948 1,838 7.750 71,536 61,948 1,838 7.750 63,445 970 2,400 66,815 71,536 12. Net Income Net incorne is stated after chargingl{crediting): 2024 2023 Depreciation of tangible fixed assets Operating lease rentals 14,942 64.492 5.368 64,492 13. Audltors, remuneratlon 2024 2023 Fees payable for the audit of the financial statements 4200 14. Independent •xamlnatlon fees 2024 2023 Fees payable to the independent examiner for. Independent examination of the financial statements 2,400
Smethwick Asra Limited Company Limited by Guarantee Notes to the FinancAal Statements (Cl116d) Year ended 31 March 2024 15. Staff costs The totsl staff costs and employee benefits for ts reporting period are analysed as follows: 2024 2023 Wages and salaries Social security costs Employer contribulions to pension plans 663,917 39,265 10,740 644,789 40,033 9,494 713,922 694,316 The average head count of employees during the year was 43 (2023: 35). The average number of full-time equivalent employees during the year is analysed as follows: 2024 No. 2023 No. Number of management slaff Number of administration and supwrt Number of care and ancillary slaff 30 28 35 33 No employee received employee benefits of more than £60.000 during the year (2023: Nil). Key hlanagement Personnel In the opinion of ts trustees the key management personnel during the year were the Projects Director and the Care Managers. Their total remuneration during the year was £105,477 consisting of £103,381 for short-term compensalion and £2,096 for post employment benefits. Total compensation in 2023 was £109.212. 16. Trustee remuneratlon and expenses no remuneration or other benefits from empIoyrrt with the charity or a related entity were received by the trustees. 21-
Smethwick Asra Limited Company Llmited by Guarantee Notes to the Financial Statements (conunued) Year ended 31 March 2024 17. Tanglble flxed assets Long leasehold Fixtures and propety ffitttngs Short leasehold propety Motor vehlcles Equipment Total Cost At1 Apr 2023 Additions Disposal8 At 31 Mar 2024 397,242 2,000 15,580 8,400 4,900 (3,100) 10,200 3,458 55,005 466,105 20,480 13,100) 483,485 397,242 17,580 3,458 55,005 Dopreclatlon At 1 Apr 2023 Charge for the year Dlsposals At 31 Mar 2024 82,628 2,000 5,575 2,550 48,893 141,646 3,178 3,116 2,900 (2,875) 5,800 858 4,890 14,942 (2,6761 153,913 85,806 5,116 3,408 53,783 Carrylng amount At 31 Mar 2024 311,436 314,614 12,464 4,400 50 1,222 6,112 329,572 324,459 At 31 Mar 2023 2,825 908 18. D•btorn 2024 2023 Trade debtors Prepayments and accrued Income Other debtors 124,102 2,600 1,574 128.178 139,054 21,001 9,750 169,805 19. Crndltorn: amounts lalllng duo wlthln one year 2024 2023 Trade creditors Accruals and deferred income Soclal security and other taxes Sundry creditors Other creditors 2.188 4,200 8,842 20,322 6,394 19,336 58,817 74.047 45,129 92,027 20. P•nslons and other post retlr•ment beneflts Deflned contrlbutlon plans The amount recognised In income or expendlture as an expense in relation to defined contribution plans was £10.740 (2023: £9,494). -22-
Smethwick Asra Limited Company Limlted by Guarantee Notss to tha Financial Statements (¢ondnued) Year ended 31 March 2024 21. Gov•rnm•nt grants The amounts recognised in the financial statements for govemment grants are as follows: 2024 2023 Recognised in income from donations and legacles: Government grants income 300 22. Analys18 ol charltable funds Unrestrlctod funds At 1 Aprll 2023 At 31 March 2024 Income Expendlture General fund8 505,830 1,109,272 (1,004,613) 610.489 At 1 Aprll 2022 At 31 March 2023 Income Expenditure General funds 463,792 981,558 (939,520) 505,830 R08trIct fund• At 1 Aprll 2023 At 31 March 2024 Income Expendlture Centre Entertainment 1,400 1,400 At 1 April 2022 At 31 March 2023 Income Expendlture Centre Entertalnment 1,400 1,400 -23-
Smethwick Asra Limited Company Limited by Guarants• Nots8 to the Flnanclal Statements (rnntlnuodj Year ended 31 March 2024 23. Analysis of net a8tsets betw••n funds Unrestricted Restricted Total Funds Funds Funds 2024 T8nglble fixed assets Current assets Credltors less than 1 year Net a88et8 329,572 354,984 (74,047) 610,489 329,572 366,364 {74.0471 611,889 1,400 1,400 Unrestricted Funds Restricted Total Funds FurKIs 2023 Tanglble red assets Current assets Credltors le8s than 1 year Net as80ts 324,459 273,398 (92,027) 505,830 324,459 274,798 (92,027) 507,230 1,400 1,400 24. Anatysls of chang•8 In net debt At At 1 Apr 2023 Cash flows 31 Mar 2024 Cash at bank and In hand 104.993 123,195 228,188 25. Operatlng l•ase commftmonts The total future mlnlmum lease payments under non-cancellable operating leases are as follows: 2024 2023 Not later Ihan 1 year Later than 1 year and not later than S year8 Later than S yearyd 12.600 63,000 1,435,500 1,498,500 1,421.000 1N33,500 26. Related partlos None of the directors, who are also the charity's trustees, recelved any remuneration or reimbursement of expenses during the year. In a previous year the charity rented out a spare room in its premises to Mrs S Mehra, chair of the trustees. The amount receivable was £3,000 which remalned outstanding at the year-end but which has slnce been pald In lull. No rent was receivable during the current year or the immedbately precedlng year.