REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
BeaniBazar Education Trust UK |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
BeaniBazar Education Trust UK |
BeaniBazar Education Trust UK |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Report of the Trustees | 1 | to | 2 |
Statement of Financial Activities | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 | to | 9 |
BeaniBazar Education Trust UK (Registered number: 08043739) |
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 |
Objectives and aims |
1) To advance the education and welfare of the people of Beani Bazar, Bangladesh (whether members of the charity or not), without distinction of sex, political, or other opinion to support local educational establishments and work with the relevant local authorities in meeting these objects. |
2) To provide for the relief of natural disasters and alleviation of poverty in Beani Bazar, Bangladesh. |
3) To further all other charitable pursuits as deemed appropriate by the trustees with particular regard to education, welfare and the relief of poverty. |
ACHIEVEMENT AND PERFORMANCE |
Fundraising activities |
Total incoming resources in the year amounted to £466 (2023: £1,053) with deficit of £459 (2023: £2,020 deficit ) at the year end. |
FUTURE PLANS |
The organisation intends to carry on its core services to advance the education and welfare, provide for the relief of natural disasters and alleviation of poverty and further all other charitable pursuits regard to education, welfare and the relief of poverty in Beani Bazar, Bangladesh. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Organisational structure |
The charity was incorporated as a company limited by guarantee on 24 April 2012 and it was registered with the Charities Commission on 3 October 2013. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
BeaniBazar Education Trust UK (Registered number: 08043739) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
Trustees |
Company Secretary |
Approved by order of the board of trustees on |
BeaniBazar Education Trust UK |
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 |
Investment income | 2 |
Total |
EXPENDITURE ON |
Raising funds | 3 | 925 | 973 |
Charitable activities |
School Donation | - | 2,100 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 13,515 |
BeaniBazar Education Trust UK (Registered number: 08043739) |
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 | 6 |
Unrestricted funds | 13,515 |
TOTAL FUNDS | 13,515 |
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. |
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 |
BeaniBazar Education Trust UK |
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. |
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. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
BeaniBazar Education Trust UK |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
2. | INVESTMENT INCOME |
31.3.24 | 31.3.23 |
£ | £ |
Interest receivable | 358 | 383 |
3. | RAISING FUNDS |
Raising donations and legacies |
31.3.24 | 31.3.23 |
£ | £ |
Support costs |
4. | 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. |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income |
Total |
EXPENDITURE ON |
Raising funds | 973 |
Charitable activities |
School Donation | 2,100 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
BeaniBazar Education Trust UK |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted |
fund |
£ |
TOTAL FUNDS CARRIED FORWARD |
13,515 |
6. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.23 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 13,515 | (459 | ) | 13,056 |
TOTAL FUNDS | (459 | ) | 13,056 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 466 | (925 | ) | (459 | ) |
TOTAL FUNDS | ( |
) | (459 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 15,535 | (2,020 | ) | 13,515 |
TOTAL FUNDS | 15,535 | (2,020 | ) | 13,515 |
BeaniBazar Education Trust UK |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
6. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 1,053 | (3,073 | ) | (2,020 | ) |
TOTAL FUNDS | 1,053 | (3,073 | ) | (2,020 | ) |
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 | 15,535 | (2,479 | ) | 13,056 |
TOTAL FUNDS | 15,535 | (2,479 | ) | 13,056 |
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 | 1,519 | (3,998 | ) | (2,479 | ) |
TOTAL FUNDS | 1,519 | (3,998 | ) | (2,479 | ) |
BeaniBazar Education Trust UK |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
7. | RELATED PARTY DISCLOSURES |
8. | COMPANY LIMITED BY GUARANTEE |
Members of the charitable company guarantee to contribute an amount not exceeding £10 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). |