REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Bangladesh Education And Development |
Foundation |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Bangladesh Education And Development |
Foundation |
Bangladesh Education And Development |
Foundation |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Report of the Trustees | 1 |
Statement of Financial Activities | 2 |
Balance Sheet | 3 | to | 4 |
Notes to the Financial Statements | 5 | to | 8 |
Bangladesh Education And Development |
Foundation (Registered number: 05066756) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
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 2024. 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 |
The charity's objects are to advance education, relief of poverty, sickness and distress of Bangladeshi people residing in Bangladesh and in the UK, by the provision of student grants, resources for educational establishments, libraries and information centres, training and facilities to enable employment and by working in partnership with other charities and statutory bodies to achieve these stated objects. |
ACHIEVEMENT AND PERFORMANCE |
The trustees are planning to undertake various activities in the coming year in Bangladesh and the UK. |
FINANCIAL REVIEW |
Total incoming resources in the year amounted to £120 (2023: £120) with a net surplus of £120 (2023: £120) at the year end. |
FUTURE PLANS |
There were no activities during the last year however charity intends to expand its activities in the coming year with projects in Bangladesh and the UK. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
The organisation is a charitable company limited by guarantee, incorporated on 8th March 2004 and registered as a charity on 1 October 2004. |
The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. Under those Articles the initial subscribers to the Memorandum are the first Trustees of the Charity. One third of the Trustees must retire at each AGM subject to reappointment by the members. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Reference and administrative details are shown in the schedule of members of the board and professional advisers on page 1 of the financial statements. |
Approved by order of the board of trustees on |
Bangladesh Education And Development |
Foundation |
Statement of Financial Activities |
for the Year Ended 31 March 2024 |
31.3.24 | 31.3.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 667 |
Bangladesh Education And Development |
Foundation (Registered number: 05066756) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank and in hand |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 5 |
Unrestricted funds | 667 |
TOTAL FUNDS | 667 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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. |
Bangladesh Education And Development |
Foundation (Registered number: 05066756) |
Balance Sheet - continued |
31 March 2024 |
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 |
Bangladesh Education And Development |
Foundation |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
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. |
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. |
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. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
Bangladesh Education And Development |
Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
3. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
31.3.24 | 31.3.23 |
No salaries or wages have been paid to employees, including the members of the committee, during the year. |
4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD |
667 |
5. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.23 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 667 | 120 | 787 |
TOTAL FUNDS | 120 | 787 |
Bangladesh Education And Development |
Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
5. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 120 | - | 120 |
TOTAL FUNDS | 120 |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 547 | 120 | 667 |
TOTAL FUNDS | 547 | 120 | 667 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 120 | - | 120 |
TOTAL FUNDS | 120 | - | 120 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 547 | 240 | 787 |
TOTAL FUNDS | 547 | 240 | 787 |
Bangladesh Education And Development |
Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
5. | MOVEMENT IN FUNDS - continued |
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 | 240 | - | 240 |
TOTAL FUNDS | 240 | - | 240 |
6. | RELATED PARTY DISCLOSURES |
7. | COMPANY LIMITED BY GUARANTEE |
Members of the charitable company guarantee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of a winding up. The total number of such guarantees at 31 March 2024 was 3 (2023: 3). |