KANNADIGARU UK COMMUNITY INTEREST COMPANY

Company Registration Number:
06704767 (England and Wales)

Unaudited statutory accounts for the year ended 30 September 2023

Period of accounts

Start date: 1 October 2022

End date: 30 September 2023

KANNADIGARU UK COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 30 September 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

KANNADIGARU UK COMMUNITY INTEREST COMPANY

Directors' report period ended 30 September 2023

The directors present their report with the financial statements of the company for the period ended 30 September 2023

Principal activities of the company

The company was formed for the purpose promoting Kannada Language and Culture in the UK and among Kannada speaking community resident in the country. One of the main objectives of the company is to mobilise all Kannada speaking people in UK.

Political and charitable donations

None

Company policy on disabled employees

Does not have any employees

Additional information

PRINCIPAL RISKS AND UNCERTAINTIES As the company is a non-profit organisation, it intends to plough back any surplus from the events, to the community via Kannada Kali classes and other community oriented programmes. The company has suffered losses during most of years of operation. However, in the last two accounting year it has made a turn around and generated surplus. Currently it is mainly funded by the directors’ capital contributions and short term interest free advances from its executive committee members, contributions from Kannada Kali students and supportive public. REVIEW OF DEVELOPMENTS AND FUTURE PROSPECTS The company has approached business houses for short term and long term sponsorships. The company envisages organising more classes for teaching Kannada language, Indian classical music and dance and other cultural activities. It has also chalked out plans to collaborate with organisations of similar activities to organise cultural events, sports events and other activities. Because of the persistent efforts by the company to promote the language and the culture, it has gained considerable recognition in the local community and by the authorities in India. In the financial year the company has conducted many batches of online Kannada language teaching classes. With no geographical constraints and the popularity, classes have to be expanded many 6 batches. The main motive of serving the community, with no intention of generating surplus, the events hosted have resulted in incurring more substantial losses in the past. However, due to contributions received from participants and sponsorships from business establishments resulted in a turn around.DIVIDEND AND TRANSFERS TO RESERVES The company working on the principles of not-for-profit and community service motto, there is no plan to distribute any surplus if at all as dividends as it aims to recoup the losses made in earlier years or plough back into the community. Also the substantial losses in the consecutive years have already added to the accumulated losses. But the company is able to recoup losses by recent suprluses.



Directors

The directors shown below have held office during the whole of the period from
1 October 2022 to 30 September 2023

Ganapati Bhat
Anil Kodebettu
Vinay Rao
Vivek J Hegde


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
28 June 2024

And signed on behalf of the board by:
Name: Vinay Rao
Status: Director

KANNADIGARU UK COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 30 September 2023

2023 2022


£

£
Turnover: 88,509 19,765
Cost of sales: ( 73,943 ) ( 14,194 )
Gross profit(or loss): 14,566 5,571
Administrative expenses: ( 394 ) ( 837 )
Operating profit(or loss): 14,172 4,734
Profit(or loss) before tax: 14,172 4,734
Profit(or loss) for the financial year: 14,172 4,734

KANNADIGARU UK COMMUNITY INTEREST COMPANY

Balance sheet

As at 30 September 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 637 0
Total fixed assets: 637 0
Current assets
Cash at bank and in hand: 37,596 49,451
Total current assets: 37,596 49,451
Prepayments and accrued income: 777 19,694
Creditors: amounts falling due within one year: 4 ( 35,637 ) ( 79,943 )
Net current assets (liabilities): 2,736 (10,798)
Total assets less current liabilities: 3,373 ( 10,798)
Total net assets (liabilities): 3,373 (10,798)
Capital and reserves
Called up share capital: 800 800
Other reserves: 5,155 5,156
Profit and loss account: (2,582 ) (16,754 )
Total Shareholders' funds: 3,373 (10,798)

The notes form part of these financial statements

KANNADIGARU UK COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 30 September 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 28 June 2024
and signed on behalf of the board by:

Name: Vinay Rao
Status: Director

The notes form part of these financial statements

KANNADIGARU UK COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 September 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the contributions received from event attendees, students and sponsorships from business houses towards Cultural/sports events and film festivals. It also includes contributions received for Kannada Kali classes. The company has not been involved with any buying or selling of goods or services in the financial year.

    Other accounting policies

    Tangible fixed assets depreciation policyDepreciation is provided, after taking into account of any grants receivable at the annual rates in order to write off each asset over its estimated useful life.Other accounting policiesStocks - As the company did not indulge in any trading activities during its life time, there are no stocks held by it during the financial period.

KANNADIGARU UK COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 September 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

KANNADIGARU UK COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 September 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 October 2022 0 0
Additions 637 637
Disposals 0 0
Revaluations 0 0
Transfers 0 0
At 30 September 2023 637 637
Depreciation
At 1 October 2022 0 0
Charge for year 0 0
On disposals 0 0
Other adjustments 0 0
At 30 September 2023 0 0
Net book value
At 30 September 2023 637 637
At 30 September 2022 0 0

KANNADIGARU UK COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 September 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Other creditors 35,637 79,943
Total 35,637 79,943

COMMUNITY INTEREST ANNUAL REPORT

KANNADIGARU UK COMMUNITY INTEREST COMPANY

Company Number: 06704767 (England and Wales)

Year Ending: 30 September 2023

Company activities and impact

The company has carried out the following activities for the benefit of the community and stakeholders1. Running online Kannada ;anguageteaching classes for over 300 community children with help of 60 voluntary teachers2. started the Kannada language teaching classes for adults3. Organised cultural events including showcasing Karnataka's folk dance drama such as Yakshagana4. Started Sports tournaments to bring all community sports enthusiasts together5. Helped generate funds to provide sustenance for students under distres6. Worked with High commission of India to organise community gatherings7. Started annual memberships to promote belongingness and extend discounts to the community members for the events and provide other benefits8. Continued organising online Yoga classes the community members for the better health benefits9 Organised members and team meetings to promote bonding

Consultation with stakeholders

Had regular surveys to understand the needs of the community . Organised cultural and sports events where community opinions are discussed as well.Annual meeting of the members was held to collect opinion.Many social media tools run by the company have provided platform for community and stakeholder consultations from time to time where people seek and provide help.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
28 June 2024

And signed on behalf of the board by:
Name: Vinay Rao
Status: Director