Charity registration number 1150605
Company registration number 07846765 (England and Wales)
THE RAMBHAI & MANIBEN PATEL CHARITABLE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
THE RAMBHAI & MANIBEN PATEL CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr K R Patel
Mr J V Sampat
Charity number
1150605
Company number
07846765
Registered office
Kalamu House
11 Coldbath Square
London
EC1R 5HL
11 Coldbath Square
Accountants
KLSA LLP
Kalamu House
11 Coldbath Square
London
EC1R 5HL
Solicitors
DMH Stallard
6 New Street Square
London
EC4A 3BF
THE RAMBHAI & MANIBEN PATEL CHARITABLE TRUST
CONTENTS
Page
Trustees report
1 - 2
Statement of financial activities
3
Balance sheet
4
Notes to the accounts
5 - 8
THE RAMBHAI & MANIBEN PATEL CHARITABLE TRUST
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

The Trustees present their report and financial statements for the year ended 31 December 2023.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

Objectives and activities
The Charity's objects are for such charitable purposes for the public benefit, as are exclusively charitable according to the laws of England and Wales, as the trustees may from time to time determine.

The objects are to promote and maintain medical services for the benefit of the public in Gujarat, India. The policies adopted in furtherance of these objects are to support the building and operation of a new hospital in Gujarat, India and there has been no change in these during the year. The Charity aims to enable those people who would otherwise be unable to afford proper medical services to benefit from such services.

Public benefit
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
Activities

The Charity received donations during the year amounting to £12,213 (2022 - £17,592 ) in the period.

Achievements and performance
Significant activities and achievements against objectives

During the year, the charity made donations to three charities for the benefit of education and medical services in the UK and India.

Financial review

Incoming resources in the period were £12,973 (2022 - £17,699), donations made in the period were £15,722 (2022 - £8,813) and resources expended in the period were £58 (2021 - £2,138). The reserves at the end of the period were £11,137 (2022 - £13,944).

 

The Charity has no restricted funds.

Reserves policy

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to two months expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’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.

Major risks
The Trustees has assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The Charity is a company limited by guarantee incorporated on 14 November 2011 .
The trustees who are also the directors for the purpose of company law, and who served during the period were:
Mr K R Patel
Mr J V Sampat
THE RAMBHAI & MANIBEN PATEL CHARITABLE TRUST
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
Recruitment and appointment of trustees
The present board of directors/trustees are responsible for recruiting and appointment of any new trustee.
Organisational structure
The Directors, who are the Charity Trustees for the purposes of the Charity Act 2011, conduct the operations of the charity.

The Trustees report was approved by the Board of Trustees.

Mr K R Patel
Trustee
9 September 2024
THE RAMBHAI & MANIBEN PATEL CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
Unrestricted
Unrestricted
funds
funds
2023
2022
Notes
£
£
Income from:
Donations and legacies
2
12,213
17,592
Investments
3
760
107
Total income
12,973
17,699
Expenditure on:
Charitable activities
4
15,780
10,951
Total expenditure
15,780
10,951
Net income/(expenditure) and movement in funds
(2,807)
6,748
Reconciliation of funds:
Fund balances at 1 January 2023
13,944
7,196
Fund balances at 31 December 2023
11,137
13,944

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

THE RAMBHAI & MANIBEN PATEL CHARITABLE TRUST
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 4 -
2023
2022
Notes
£
£
£
£
Current assets
Cash at bank and in hand
11,137
13,944
Net current assets
11,137
13,944
Net assets excluding pension liability
11,137
13,944
The funds of the Charity
Unrestricted funds
11,137
13,944
11,137
13,944

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 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 members have 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 Trustees on 9 September 2024
Mr K R Patel
Trustee
Company registration number 07846765 (England and Wales)
THE RAMBHAI & MANIBEN PATEL CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
1
Accounting policies
Charity information

The Rambhai & Maniben Patel Charitable Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Kalamu House, 11 Coldbath Square, London, EC1R 5HL.

1.1
Accounting convention

The accounts have been prepared in accordance with the Charity's trust deeds, 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)” (as amended for accounting periods commencing from 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102.

 

The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

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

 

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

1.4
Incoming resources
Income is recognised when the Charity 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 Charity 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.

1.5
Resources expended

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.

Expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all costs related to that 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.

THE RAMBHAI & MANIBEN PATEL CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 6 -
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.

1.7
Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors 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.

2
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Donations and gifts
12,213
17,592
3
Income from investments
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Interest receivable
760
107
THE RAMBHAI & MANIBEN PATEL CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
4
Expenditure on charitable activities
Donations made
Charitable expenditure
Total
Donations made
Charitable expenditure
Total
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£
Direct costs

Charitable Activities

15,722
-
15,722
8,813
-
8,813
Share of support and governance costs (see note )
Support
-
58
58
-
2,138
2,138
15,722
58
15,780
8,813
2,138
10,951
Analysis by fund
Unrestricted funds
15,722
58
15,780
8,813
2,138
10,951

During the year, the charity made donations to ATI Prachin Shree Chamunda Mata Dham (£1,111), Khodiyar Mata Temple Trust, (£1,000), Just Giving, (£1,001), Essex London & Essex Hindu Social Club (£1,001), Kailash Bhoomi, Bakrol,( £10,000) and Hindu Priest Services (£1,608.03).

 

5
Trustees
None of the Trustees (or any persons connected with them) received any remuneration or were any expenses reimbursed to them during the year.
6
Net movement in funds
2023
2022
£
£
The net movement in funds is stated after charging/(crediting):
7
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 January 2023
Incoming resources
Resources expended
At 31 December 2023
£
£
£
£
General funds
13,944
12,973
(15,780)
11,137
THE RAMBHAI & MANIBEN PATEL CHARITABLE TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
7
Unrestricted funds
(Continued)
- 8 -
Previous year:
At 1 January 2022
Incoming resources
Resources expended
At 31 December 2022
£
£
£
£
General funds
7,196
17,699
(10,951)
13,944
8
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel

 

9
Taxation
The charity is exempt from corporation tax on its charitable activities.
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