Kuberbhai Shivabhai Desai Trust Limited - Charities report - 19.1

REGISTERED COMPANY NUMBER: 09463549 (England and Wales)

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 July 2018

for

Kuberbhai Shivabhai Desai Trust Limited

Kuberbhai Shivabhai Desai Trust Limited

Contents of the Financial Statements

for the Year Ended 31 July 2018

Page

Report of the Trustees

1

Statement of Financial Activities

2

Balance Sheet

3

Notes to the Financial Statements

4 to 6

Kuberbhai Shivabhai Desai Trust Limited

Report of the Trustees

for the Year Ended 31 July 2018

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with

the financial statements of the charity for the year ended 31 July 2018. The trustees have adopted the provisions of

Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their

accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)

(effective 1 January 2015).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by

guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

09463549 (England and Wales)

Registered Charity number

1171007

Registered office

18 Copse Hill

Wimbledon

London

SW20 0HG

Trustees

K C Desai

D Desai

A M Desai

M C Desai

B Desai

Company Secretary

Approved by order of the board of trustees on 25 April 2019 and signed on its behalf by:

A M Desai - Trustee

Kuberbhai Shivabhai Desai Trust Limited

Statement of Financial Activities

for the Year Ended 31 July 2018

Period

29.2.16

Year Ended

to

31.7.18

31.7.17

Unrestricted fund

Total funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

-

5,000

Total

-

5,000

EXPENDITURE ON

Raising funds

2

637

4,832

NET INCOME/(EXPENDITURE)

(637

)

168

RECONCILIATION OF FUNDS

Total funds brought forward

168

-

TOTAL FUNDS CARRIED FORWARD

(469

)

168

Kuberbhai Shivabhai Desai Trust Limited

Balance Sheet

At 31 July 2018

2018

2017

Unrestricted fund

Total funds

Notes

£

£

CURRENT ASSETS

Cash at bank

371

588

CREDITORS

Amounts falling due within one year

5

(840

)

(420

)

NET CURRENT ASSETS/(LIABILITIES)

(469

)

168

TOTAL ASSETS LESS CURRENT LIABILITIES

(469

)

168

NET ASSETS/(LIABILITIES)

(469

)

168

FUNDS

6

Unrestricted funds

(469

)

168

TOTAL FUNDS

(469

)

168

The charitable company is entitled to exemption from audit under

Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended

31 July 2018 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)

ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies

Act 2006 relating to charitable small companies.

The financial statements were approved by the Board of Trustees on 25 April 2019 and were signed on its behalf by:

A M Desai -Trustee

Kuberbhai Shivabhai Desai Trust Limited

Notes to the Financial Statements

for the Year Ended 31 July 2018

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been

prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of

Recommended Practice applicable to charities preparing their accounts in accordance with the Financial

Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial

Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the

Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is

probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the

charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and

the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and

has been classified under headings that aggregate all cost related to the category. Where costs cannot be

directly attributed to particular headings they have been allocated to activities on a basis consistent with the use

of resources.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions

arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2.	RAISING FUNDS

Raising donations and legacies

Period

29.2.16

Year Ended

to

31.7.18

31.7.17

£

£

Support costs

637

4,832

3.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2018 nor for the period ended

31 July 2017.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2018 nor for the period ended 31 July 2017.

4.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted fund

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

5,000

Total

5,000

EXPENDITURE ON

Raising funds

4,832

Total

4,832

NET INCOME/(EXPENDITURE)

168

TOTAL FUNDS CARRIED FORWARD

168

5.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Accruals and deferred income

840

420

6.	MOVEMENT IN FUNDS

At 1.8.17

Net movement in funds

At 31.7.18

£

£

£

Unrestricted funds

General fund

168

(637

)

(469

)

TOTAL FUNDS

168

(637

)

(469

)

Net movement in funds, included in the above are as follows:

Incoming resources

Resources expended

Movement in funds

£

£

£

Unrestricted funds

General fund

-

(637

)

(637

)

TOTAL FUNDS

-

(637

)

(637

)

Comparatives for movement in funds

Net movement in funds

At 31.7.17

£

£

Unrestricted Funds

General fund

168

168

TOTAL FUNDS

168

168

Comparative net movement in funds, included in the above are as follows:

Incoming resources

Resources expended

Movement in funds

£

£

£

Unrestricted funds

General fund

5,000

(4,832

)

168

TOTAL FUNDS

5,000

(4,832

)

168

7.	RELATED PARTY DISCLOSURES

During the year the company received donations in the sum of £Nil (2017 £5,000) from Barker Care Limited.

MC Desai, K C Desai and AM Desai, trustees and directors of the company are also directors and shareholders

in Barker Care Limited.