Charity registration number 1144862
Company registration number 07840891 (England and Wales)
BRAMMA CHARITABLE TRUST LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
BRAMMA CHARITABLE TRUST LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Director
J K Lakha
S Lakha
Charity number
1144862
Company number
07840891
Principal address
7-9 Ealing Road
Wembley
MIDDLESEX
HA0 4AA
Accountants
King & King
5th Floor
Watson House
54-60 Baker Street
London
W1U 7BU
Trustees
Jayant Kumar Lakha
Shilpa Lakha
Arullanantha S Swamy
Rajya Lakshmi Rangauaghala
BRAMMA CHARITABLE TRUST LIMITED
CONTENTS
Page
Trustees report
1
Accountants' report
2
Statement of financial activities
3
Statement of financial position
4
Notes to the financial statements
5 - 8
BRAMMA CHARITABLE TRUST LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 1 -

The Director present their annual report and financial statements for the year ended 30 November 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's [governing document], the Companies Act 2006 and "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

The trust's objects are to advance the education and protect the physical and mental health of people in need, in particular but not exclusively among homeless children, disabled children and orphans living in India through provision of street schools, residential homes, day centres and by any such other means as the trustees may determine.

The Director have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.

Achievements and performance

During the year, the charity has managed to raise £13,930.

Financial review

The Charity has managed to obtain donations totalling £13,930 which were donated towards Ramananda Trust in India.

It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Director consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the trust’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The Director have assessed the major risks to which the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The trust is a company limited by guarantee and is constituted under the Memorandum of Association dated 09 November 2011. The company's registered charity number is 1144862.

The Director, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

J K Lakha
S Lakha

The trustees report was approved by the Board of Director.

J K Lakha
Jayant Kumar Lakha
Dated: 27 August 2024
BRAMMA CHARITABLE TRUST LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BRAMMA CHARITABLE TRUST LIMITED FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bramma Charitable Trust Limited for the year ended 30 November 2023, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made to the charity's Director, as a body, in accordance with the terms of our engagement letter dated 1 April 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Bramma Charitable Trust Limited and state those matters that we have agreed to state to the charity's Director, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bramma Charitable Trust Limited and the charity's Director as a body, for our work or for this report.

It is your duty to ensure that Bramma Charitable Trust Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of Bramma Charitable Trust Limited. You consider that Bramma Charitable Trust Limited is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.

We have not been instructed to carry out an audit or a review of the financial statements of Bramma Charitable Trust Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

King & King
Chartered Accountants
5th Floor
54-60 Baker Street
London
W1U 7BU
27 August 2024
BRAMMA CHARITABLE TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
Unrestricted
Unrestricted
funds
funds
2023
2022
Notes
£
£
Income from:
Donations and legacies
3
13,930
7,805
Expenditure on:
Charitable activities
4
16,318
6,000
Other
7
1,421
706
Total resources expended
17,739
6,706
Net (expenditure)/income for the year/
Net movement in funds
(3,809)
1,099
Fund balances at 30 November 2023
(1,756)
2,053

The statement of financial activities includes all gains and losses recognised in the year.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
BRAMMA CHARITABLE TRUST LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 NOVEMBER 2023
30 November 2023
- 4 -
2023
2022
Notes
£
£
£
£
Current assets
Cash at bank and in hand
44
3,253
Current liabilities
9
(1,800)
(1,200)
Net current (liabilities)/assets
(1,756)
2,053
Net assets excluding pension liability
(1,756)
2,053
The funds of the trust
Unrestricted funds
(1,756)
2,053
(1,756)
2,053

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Director on 27 August 2024
J K Lakha
Jayant Kumar Lakha
Company registration number 07840891 (England and Wales)
BRAMMA CHARITABLE TRUST LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
1
Accounting policies
Charity information

Bramma Charitable Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is .

1.1
Accounting convention

The financial statements have been prepared in accordance with the trust's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The trust is a Public Benefit Entity as defined by FRS 102.

 

The trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the Director have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Director continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Director in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the trust.
1.4
Income
Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
BRAMMA CHARITABLE TRUST LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 6 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.

1.7
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

BRAMMA CHARITABLE TRUST LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 7 -
2
Critical accounting estimates and judgements

In the application of the trust’s accounting policies, the Director are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Donations and legacies
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Donations
13,930
7,805
4
Expenditure on charitable activities
Heading #ac982
Heading #ac982
2023
2022
£
£
Direct costs

Charitable expenditure

16,318
6,000
Analysis by fund
Unrestricted funds
16,318
6,000
5
Director
None of the Director (or any persons connected with them) received any remuneration or benefits from the trust during the year.
6
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
2
2
There were no employees whose annual remuneration was more than £60,000.
BRAMMA CHARITABLE TRUST LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
6
Employees
(Continued)
- 8 -
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

7
Other
Unrestricted
Unrestricted
funds
funds
2023
2022
Legal and Professional
579
-
Accountancy fees
600
600
Bank charges
242
106
1,421
706
8
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

9
Current liabilities
2023
2022
£
£
Accruals and deferred income
1,800
1,200
10
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 December 2022
Incoming resources
Resources expended
At 30 November 2023
£
£
£
£
General funds
2,053
13,930
(17,739)
(1,756)
Previous year:
At 1 December 2021
Incoming resources
Resources expended
At 30 November 2022
£
£
£
£
General funds
954
7,805
(6,706)
2,053
11
Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

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