IRIS Accounts Production v24.2.0.383 Other Company accounts True false Pounds 1.1.23 31.12.23 31.12.23 FY FRS 102 Unaudited Small companies regime for accounts Full Charities SORP true true true false true false false 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh053037182022-12-31053037182023-12-31053037182023-01-012023-12-31053037182021-12-31053037182022-01-012022-12-31053037182022-12-3105303718ns0:CharitableCompanyLimitedByGuarantee2023-01-012023-12-3105303718ns15:PoundSterling2023-01-012023-12-3105303718ns11:FRS1022023-01-012023-12-3105303718ns11:AuditExempt-NoAccountantsReport2023-01-012023-12-3105303718ns11:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105303718ns11:FullAccounts2023-01-012023-12-3105303718ns11:CharitiesSORP2023-01-012023-12-3105303718ns16:EnglandWales2023-01-012023-12-3105303718ns11:RegisteredOffice2023-01-012023-12-3105303718ns0:Trustee22023-01-012023-12-3105303718ns0:Trustee32023-01-012023-12-3105303718ns0:Trustee42023-01-012023-12-3105303718ns0:Trustee12023-01-012023-12-3105303718ns0:Trustee52023-01-012023-12-3105303718ns11:CompanySecretary12023-01-012023-12-3105303718ns0:TotalUnrestrictedFunds2023-01-012023-12-3105303718ns0:TotalRestrictedIncomeFunds2023-01-012023-12-3105303718ns0:Activity92023-01-012023-12-3105303718ns0:TotalUnrestrictedFundsns0:Activity92023-01-012023-12-3105303718ns0:Activity9ns0:TotalRestrictedIncomeFunds2023-01-012023-12-3105303718ns0:Activity92022-01-012022-12-3105303718ns0:TotalUnrestrictedFunds2022-12-3105303718ns0:TotalRestrictedIncomeFunds2022-12-3105303718ns0:TotalUnrestrictedFunds2023-12-3105303718ns0:TotalRestrictedIncomeFunds2023-12-3105303718ns0:TotalUnrestrictedFundsns10:WithinOneYear2023-12-3105303718ns10:WithinOneYearns0:TotalRestrictedIncomeFunds2023-12-3105303718ns10:WithinOneYear2023-12-3105303718ns10:WithinOneYear2022-12-310530371822023-01-012023-12-310530371832023-01-012023-12-310530371812023-01-012023-12-310530371812022-01-012022-12-31
REGISTERED COMPANY NUMBER: 05303718 (England and Wales)
REGISTERED CHARITY NUMBER: 1118253


















TRUSTEES' REPORT AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

VANI FINE ARTS SOCIETY
(A COMPANY LIMITED BY GUARANTEE)

VANI FINE ARTS SOCIETY

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Trustees' Report 1 to 2

Statement of Financial Activities 3

Statement of Financial Position 4

Notes to the Financial Statements 5 to 8

VANI FINE ARTS SOCIETY (REGISTERED NUMBER: 05303718)

TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023



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 December 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
Review of activities and public benefit
The principal activity continues to be that of promotion of cultural programmes, with emphasis on Indian Culture.
Financial position and activities for public benefit during the year are as shown in notes of the Accounts.

FINANCIAL REVIEW
Financial position
The charity had a surplus of £2,391 for the year (2022- deficit of £193). The details are given in the statement of financial activities pages 5 to 8.

Reserves policy
The funding is by cultural promotion programmes and the directors and trustees have undertaken to provide support to meet its liabilities as they fall due

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Vani Fine Arts Society is a company limited by guarantee and is a registered charity It is governed by it Memorandum and Articles of Association dated 3 December 2004 in the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member.

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
05303718 (England and Wales)

Registered Charity number
1118253

Registered office
6 Barton Road
London
W14 9HD

Trustees
K Balasubramaniam Audit Associate
R Krishnamoorthy Director
Mrs R Ramachandran Accounts Associate
K Sivanesan Director
Miss B Premnath Director

Company Secretary
K Sivanesan


VANI FINE ARTS SOCIETY (REGISTERED NUMBER: 05303718)

TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023


This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 19 September 2024 and signed on its behalf by:





K Sivanesan - Trustee

VANI FINE ARTS SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 2,584 - 2,584 -

EXPENDITURE ON
Charitable activities 3
Other cultural promotion 193 - 193 193

NET INCOME/(EXPENDITURE) 2,391 - 2,391 (193 )


RECONCILIATION OF FUNDS
Total funds brought forward (28,306 ) - (28,306 ) (28,113 )

TOTAL FUNDS CARRIED FORWARD (25,915 ) - (25,915 ) (28,306 )

CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.

VANI FINE ARTS SOCIETY (REGISTERED NUMBER: 05303718)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
CURRENT ASSETS
Cash at bank and in hand 1,772 - 1,772 1,388

CREDITORS
Amounts falling due within one year 5 (27,687 ) - (27,687 ) (29,694 )

NET CURRENT ASSETS/(LIABILITIES) (25,915 ) - (25,915 ) (28,306 )

TOTAL ASSETS LESS CURRENT
LIABILITIES

(25,915

)

-

(25,915

)

(28,306

)

NET ASSETS/(LIABILITIES) (25,915 ) - (25,915 ) (28,306 )
FUNDS 6
Unrestricted funds:
General fund (25,915 ) (28,306 )
TOTAL FUNDS (25,915 ) (28,306 )

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


The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 19 September 2024 and were signed on its behalf by:





K Sivanesan - Trustee

VANI FINE ARTS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


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.

Going concern
The company is reliant on its directors' and trustees' to provide support to it, to enable it to meet its liabilities as they fall due. The financial statements have been prepared on the going concern basis the validity of which depends upon this support continuing to be made available. The financial statements do not include any adjustments which would result from sufficient finance not being made available.

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.

Financial instruments
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at the present value of future payments


VANI FINE ARTS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. DONATIONS AND LEGACIES
2023 2022
Unrestricted Restricted Total Total
funds funds funds funds
£    £    £    £   
Donations 2,584 - 2,584 -

3. CHARITABLE ACTIVITIES COSTS
Support
costs
£   
Other cultural promotion 193

4. TRUSTEES' REMUNERATION AND BENEFITS

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


Trustees' expenses

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


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trustees' account 27,494 29,501
Accrued expenses 193 193
27,687 29,694

6. MOVEMENT IN FUNDS
Net
movement At
At 1.1.23 in funds 31.12.23
£    £    £   
Unrestricted funds
General fund (28,306 ) 2,391 (25,915 )

TOTAL FUNDS (28,306 ) 2,391 (25,915 )

VANI FINE ARTS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. 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 2,584 (193 ) 2,391

TOTAL FUNDS 2,584 (193 ) 2,391


Comparatives for movement in funds

Net
movement At
At 1.1.22 in funds 31.12.22
£    £    £   
Unrestricted funds
General fund (28,113 ) (193 ) (28,306 )

TOTAL FUNDS (28,113 ) (193 ) (28,306 )

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund - (193 ) (193 )

TOTAL FUNDS - (193 ) (193 )

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

Net
movement At
At 1.1.22 in funds 31.12.23
£    £    £   
Unrestricted funds
General fund (28,113 ) 2,198 (25,915 )

TOTAL FUNDS (28,113 ) 2,198 (25,915 )

VANI FINE ARTS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. 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 2,584 (386 ) 2,198

TOTAL FUNDS 2,584 (386 ) 2,198

7. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 2023 nor for the year ended 31 December 2022.