Blossom Trust - Charities report - 22.2

REGISTERED COMPANY NUMBER: 07581341 (England and Wales)

REGISTERED CHARITY NUMBER: 1145318

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

BLOSSOM TRUST

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5

Notes to the Financial Statements

6

to

9

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 March 2023. 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 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The main objective of the charity is women empowerment and supporting and rehabilitating orphaned children in Sri Lanka.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

During the year the company made donations as follows:

£8,733 (2022: £7,290) to Eastern University,

£8,625 (2022: £2,503) to Jaffna University,

£Nil (2022: £6,104) to House for Poor,

£356 (2022: £131) to Batticoala Project Management,

£106 (2022: £197) to Women Empowerment,

£Nil (2022: £3,554) to Community Well & Borewell Projects,

£908 (2022: £Nil) to Sandiply School Archway Project,

£3,177 (2022: £1,288) to Manikkavasagar Boys Home

£330 (2022: £Nil) to Moratuwa Medical Student Financial Support Scheme,

£791 (2022: £Nil) to Winrose,

£1,385 (2022: £Nil) to Aranery School Toilet Project,

£157 (2022: £Nil) to Remembrance Food Distribution,

£3,818 (2022: £Nil) to Olirum Vazhuvhu Vehicle Donation for Physically Challanged and

£Nil (2022: £464) to Remembrance support

FINANCIAL REVIEW

Financial position

Incoming resources decreased from £44,698 in 2022 to £41,977 this year.

Total expenditure increased from £22,561 in 2022 to £29,273 for the current year.

The above factors resulted in a surplus of £12,704 for the current year against a surplus of £22,137 for the year ending 31 March 2022.

The net assets of the company as at 31 March 2023 amounted to £71,644 (2022: £58,940)

Principal funding sources

Donations have been used to assist with the company's charitable aims.

Reserves policy

It is the policy of the charity to maintain unrestricted funds, which are free reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely administrative costs of the charity for the next year.

The trust's reserve policy is to keep reserves to a minimum, whilst ensuring it has sufficient reserves to cover anticipated expenditure for a six month period.

The reserves currently stand at £71,644 and the Trustees are considering a number of projects to support this.

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.

Recruitment and appointment of new trustees

The trustees are elected by the members of the organisation at the Annual General meeting. The trustees have the power to co-opt persons with a particular skill to contribute to the company. It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.

Related parties

None of the Trustees receive any remuneration for their services or reimbursement of expenses.

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.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07581341 (England and Wales)

Registered Charity number

1145318

Registered office

31a Brand Ville Gardens

Ilford

Essex

IG6 1JG

Trustees

A Kanagasabai Technical Consultant

N Selvakumar Accountant

V Senathirajah Manager

W Shantharuban C.e.o

R Veerasingam Neshakar Accountant

Independent Examiner

G Chajet BA (Hons) FCA

Accura Accountants Ltd

Langley House

Park Road

East Finchley

London

N2 8EY

Approved by order of the board of trustees on 8 December 2023 and signed on its behalf by:

N Selvakumar - Trustee

Independent examiner's report to the trustees of Blossom Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

G Chajet BA (Hons) FCA

Accura Accountants Ltd

Langley House

Park Road

East Finchley

London

N2 8EY

8 December 2023

31.3.23

31.3.22

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

41,868

44,694

Investment income

2

109

4

Total

41,977

44,698

EXPENDITURE ON

Raising funds

871

696

Charitable activities

General fund

28,402

21,865

Total

29,273

22,561

NET INCOME

12,704

22,137

RECONCILIATION OF FUNDS

Total funds brought forward

58,940

36,803

TOTAL FUNDS CARRIED FORWARD

71,644

58,940

31.3.23

31.3.22

Unrestricted

Total

fund

funds

Notes

£

£

CURRENT ASSETS

Cash at bank

71,764

59,180

CREDITORS

Amounts falling due within one year

6

(120

)

(240

)

NET CURRENT ASSETS

71,644

58,940

TOTAL ASSETS LESS CURRENT LIABILITIES

71,644

58,940

NET ASSETS

71,644

58,940

FUNDS

7

Unrestricted funds

71,644

58,940

TOTAL FUNDS

71,644

58,940

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 8 December 2023 and were signed on its behalf by:

N Selvakumar - Trustee

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 2019)', 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.

The trustees are of the opinion that the charity will receive incoming funds and structure it costs over the next 12 month. They are therefore of the opinion that the charity is a going concern.

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.	INVESTMENT INCOME

31.3.23

31.3.22

£

£

Interest receivable

109

4

3.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.

4.	STAFF COSTS

The average monthly number of employees during the year was as follows:

31.3.23

31.3.22

No employees received emoluments in excess of £60,000.

5.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

44,694

Investment income

4

Total

44,698

EXPENDITURE ON

Raising funds

696

Charitable activities

General fund

21,865

Total

22,561

NET INCOME

22,137

RECONCILIATION OF FUNDS

Total funds brought forward

36,803

TOTAL FUNDS CARRIED FORWARD

58,940

6.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Accrued expenses

120

240

7.	MOVEMENT IN FUNDS

Net

movement

At

At 1.4.22

in funds

31.3.23

£

£

£

Unrestricted funds

General fund

58,940

12,704

71,644

TOTAL FUNDS

58,940

12,704

71,644

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

41,977

(29,273

)

12,704

TOTAL FUNDS

41,977

(29,273

)

12,704

Comparatives for movement in funds

Net

movement

At

At 1.4.21

in funds

31.3.22

£

£

£

Unrestricted funds

General fund

36,803

22,137

58,940

TOTAL FUNDS

36,803

22,137

58,940

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

44,698

(22,561

)

22,137

TOTAL FUNDS

44,698

(22,561

)

22,137

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.4.21

in funds

31.3.23

£

£

£

Unrestricted funds

General fund

36,803

34,841

71,644

TOTAL FUNDS

36,803

34,841

71,644

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

86,675

(51,834

)

34,841

TOTAL FUNDS

86,675

(51,834

)

34,841

8.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.