REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
BENGALI WORKERS ASSOCIATION |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
BENGALI WORKERS ASSOCIATION |
BENGALI WORKERS ASSOCIATION |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Report of the Trustees | 1 | to | 8 |
Independent Examiner's Report | 9 |
Statement of Financial Activities | 10 |
Balance Sheet | 11 |
Notes to the Financial Statements | 12 | to | 17 |
BENGALI WORKERS ASSOCIATION (Registered number: 02903924) |
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 Core Strengths |
We have three key strengths inclusive of: |
1. The delivery of an interrelated holistic, tailor-made service, taking into account the specific issues and barriers each client faces in obtaining a stable socio-economic position within their community. |
To that end, we offer every client: |
a. An open, confidential service that begins with an informal assessment of all their needs and worries: this approach is particularly important for those clients accessing our services for the first time to ensure we understand and can see the complete - as opposed to a partial - picture of each client's needs. |
b. Access to bilingual staff to better identify deeper issues such as literacy, numeracy and skills issues. Most of our staff and volunteers are bilingual and hold excellent credentials / track records in their field of work. The fact that most of our staff and volunteers stem from the same socio-economic background as our clients, enables us to hold a deeper understanding of difficulties and barriers they face, and tailor and deliver programmes which take into account each client groups' needs. |
c. Tailored sessions with expert Advisors according to their needs. Our General Advice team works in conjunction with our Employment & Training, Older People's and Youth Teams to flag up any specific issues which need to be addressed by clients coming to us for support. |
2. A reputation and a network that precedes us. |
With work spanning over four decades, we have had the privilege of having worked with members of local families across generations. Local people - and especially those that refrain from approaching mainstream organisations - trust our work, services and staff, which means that simply through word of mouth alone, we are able to access the hardest-to-reach, most isolated and often 'invisible' sections of our local community. We have links with many local organisations, ranging from primary schools to GP surgeries to local council teams to other key advice and service-led agencies, corporate as well as local businesses, both mainstream and small. From engagement stage to service delivery, it is our ability to be as accessible and as visibly present as we can that forges one of the core foundations of our clients' trust being placed in us. |
3. Creating living examples of our works. |
One of the reasons we continue to experience a high demand for our programmes is because those who would not normally approach organisations themselves for help, are motivated to do so by directly seeing for themselves the positive impact our work has had on a friend, relative or neighbour who has used our services. Our client-based satisfaction surveys consistently highlight a high number of self-referrals resultant of recommendations made by friends, neighbours or family members who have felt the benefits of our advice service, young people's service, older people's service and training & employment support programmes. |
BENGALI WORKERS ASSOCIATION (Registered number: 02903924) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
OBJECTIVES AND ACTIVITIES |
Public benefit |
We have always, and will continue to, take out responsibilities of ensuring that our charitable activities contribute significantly to the lives of those we work with and specifically within the local areas in which those activities are undertaken. |
We have referred to the guidance provided by the Charity Commission on public benefit, and all our charitable activities are directed towards having a lifelong impact in our area of benefit and service users alike and these activities are undertaken to further our charitable purposes for the public benefit. In particular the Board of Trustees consider how our services will contribute to these aims and objectives in planning our future services. |
BENGALI WORKERS ASSOCIATION (Registered number: 02903924) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
ACHIEVEMENT AND PERFORMANCE |
Overview |
The Bengali Workers' Association is one of the largest ethnic minority organizations in Camden providing services for people of all races in Camden and it is based in well located area in Camden. It is readily accessible for people living in Camden. There are good public transport link including business, underground and British rail (Euston and Kings Cross). There is a large Bangladeshi community in Camden and the significant number of Bangladeshi residents are regularly using our services along with people of other communities (Chinese, Somalian and Afro-Caribbean). During the pandemic we were providing services for people across Camden because the pandemic impacted upon the lives of elderly and vulnerable people. The COVID 19 has led to a dramatic loss of human life and presents an unprecedented challenge to public health, food and world of work. The economics and social disruption caused by the pandemic was devastating; people were at risk of falling into extreme poverty. During the pandemic, the BWA was distributing hot meals to the vulnerable and elderly people every week until the lockdown was fully withdrawn. We were also providing food parcels to children and families who were in need. Despite the pandemic we were able to secure funding to provide door to door service for the vulnerable people. The service included visiting vulnerable people every day, befriending with them, helping them with benefits, housing, contacting their GP, carrying out shopping, guiding, and advising to stay safe from COVID. The vulnerable people benefited from the services enormously. In doing these we were assisted by the board members, volunteers, staff and councillors from Camden council. We were also working in partnership with Fitzrovia Neighboured Centre, Hopscotch Centre, Camden council and we were providing hot meals to 400 to 600 people every week until the lockdown was fully lifted. Our staff and board members were actively involved in several key partnerships, funding bids including Big lottery funding, Edward Harvest, City Bridge and so forth. The aim of these services were to make them feel connected and supported during the pandemic. In addition to these, the BWA was providing food parcels to the families with children suffering financial hardship impacting upon the wellbeing of children. We have applied for funding to set up a family support services to assist vulnerable families. The aim of the project will be to reduce the hardship, maximise their income and reduce the involvement of social services. We are in the process of submitting more funding applications to provide services for children, young people, education and training for unemployed people, welfare rights services, and homework club for school age children. |
Since 2022 till now we have secured fundings from various funding streams including City Bridge, HS2 and Garfield and we are now successfully running a full-time Day-Care Services for vulnerable people aged 55 and over for five days a week. The people who use our services are suffering loneliness, isolation, mental and physical health problems and we are providing holistic services including welfare benefits, health advice, healthy eating, cooking, exercise, arts and crafts, yoga, and so forth day trip and summer trips. In addition to this we provide community lunch every week for people of all ages who are in low income. The aim of our services is to enable people to enhance their life chances, reduce isolation, loneliness, and lead healthy life. . |
Advice Services |
The level of demand for welfare advice has always been high and is likely to continue. The impact of welfare reform has begun to impact local communities in all areas of life - including housing benefits and tax credits. It is therefore no surprise that a significant majority of enquiries concern welfare advice and income maximisation. The main arms of our advice works are comprised of the following areas: |
" Welfare Benefits. |
" Housing. |
" Debt & Money Matters. |
" Financial Inclusion. |
" Health and welfare. |
" Immigration. |
We have submitted funding applications to continue to provide these services. Currently, we are providing these services in partnership with Hopscotch Asina Centre and Age UK Camden. |
BENGALI WORKERS ASSOCIATION (Registered number: 02903924) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
Skills & Employment Services |
We aim to meet the priorities and needs of each of our clients approaching us both directly and indirectly for advice and/or employment, skills or training needs through our integrated advice and training teams. |
The outcomes of our work in this area consistently highlight the need for all clients - especially those with low confidence and skills levels - to undergo and receive a holistic approach to enable them to: |
a. move from a status of benefit dependency (the benefit-trap mindset) to being engaged in skills development. |
b. move into - and stay - in newly acquired employment, voluntary or enhanced economic engagement roles. |
To that end, each client approaching our services who have a clearly defined need or desire to move into competitive jobs market undergoes. These services vital as this helps people get back to employment and we are making effort to secure funding to provide this service. |
. |
Health & Well-Being Programme |
Access to a safe, affordable space to come and just "be", make friends, maybe even learn something new, is crucial to enhancing the daily lives of individuals, and crucial for enabling greater understanding between communities. Ongoing funding cuts to such services across the borough makes it even more crucial that we continue to deliver such activities wherever possible. |
Our health and wellbeing programmes have one key aim: to break down the walls of isolation and cultural segregation that all too easily forms around already secluded groups of our local communities. And through the two arms of food and healthy lifestyles, we hope to continue fulfilling this aim. |
i. Luncheon Club for the Elderly |
"I've made friends here and 2 get to enjoy 2 hot meal every week! It's the thing I look forward to most in my week." |
Over this past year, we have continued to deliver twice weekly Luncheon Clubs for the benefit of our elder communities across Camden. This is currently run as an independent business model, subsidised through sales to wider consumers. This is crucial in sustaining the service to enable local, elderly, socially excluded individuals to meet for lunch and discussions, activities or games. |
For many of those in attendance, these luncheon clubs constitute their only weekly social interaction activity. There is increasing demand for such projects as evidenced by the continuing increases in the number of older women and men approaching us to take part in such projects. |
ii. Older People's Service |
Our Older People's Project supported 84 people, some of whom are 'elderly old', with menus of healthy living and wellbeing activities, including exercises, IT classes, crafts, inter-generational contact with our youth service and, very importantly, social contact combating isolation. |
Our Older People's Project provides social and health activities in conjunction with an outreach service, working with an average of over 40 people each week. The service provides crucial support to Bangladeshi men and women experiencing mental ill health and social isolation through a range of weekly group sessions. |
These services have made significant difference to the lives of people in the community, notably older people and their carers - promoting independence and wellbeing, and providing personal care and respite to carers. Further, we have been evolving our Older People's Project to meet changing local and national agendas, through the 'personalisation' agenda, meaning access to our service is now across different ethnic groups and not just Bangladeshi's. |
BENGALI WORKERS ASSOCIATION (Registered number: 02903924) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
Young People's Services |
Our Young People's Services successfully communicates the complex, non-linear, journey many young people go on as they move from being unengaged to becoming fully equipped for adulthood. As they progress, young people go through 4 phases where; young people Get involved (social engagement), Grow and learn (social learning), Give back (social action) and Gain independence (social leadership). |
During the course of the year, the young people we worked with became more self-aware, receptive, confident, resilient, motivated, responsible, and better at communicating. This is crucial, as building these emotional and social capabilities enables young people to form positive relationship with peers; learn from and build trust with supportive role models and caring adults; challenge themselves and step outside of their comfort zone; broaden horizons and raise aspirations, and achieve things they might not have previously thought possible. |
Our Youth Service works with young people aged 6-19 in activities and opportunities developing learning, life skills and raising aspirations, acting as a local youth hub. Over 200 young people took part in our youth service activities during the year with thrice weekly group sessions ranging from dance, boxing and other sports, IT and arts projects to one to one support including careers advice and homework club. |
We also provide after school club service for our school age children. The after-school club will provide an opportunity for children to develop social skills and to engage in constructive activities |
LOCAL PARTNERSHIP AND PROJECT WORK |
We work in consultation and partnership with the local community and statutory and voluntary agencies in developing our programmes and responding to emerging need and new initiatives. |
We are widely involved in collaborative and partnership work and developed further opportunities by being actively involved in new initiatives both locally and Camden wide. Partnership working benefits our users as it identifies need and gaps in provision, prevents duplication of services and enables accurate referral and information to and from partnership organisations. It enables access to funding streams and increases our effectiveness and resilience through joint provision of services and the exchange of good practice, policies and information. |
We act as a strategic organisation working with partners across the sector as well as statutory providers to enable members of the community to engage with service providers and to enable those providers to adapt services to better meet the needs of the community. We provide ideas and input into discussions and consultations on policy matters. Staff and trustees attend a range of internal and external meetings to help set the direction of the organisation and to share best practice and ideas. Our status as Camden Council's Strategic Partner in the South West Zone places us in a key role in making community connections with other VCS organisations in the area. |
With our roots in community activism, we have evolved into a well-known and locally respected 'community anchor'. We are immensely proud that the Surma Community Centre is a venue that provides for a wide range of social, cultural and community events, and now increasingly, support a more diverse range of service users, reflecting the changing demographics of the local community within which we are rooted. |
FINANCIAL REVIEW |
Since we were elected as board of directors, we inherited deficit of £42k. We are now in a stronger position financially compared to the past. There was no lease of the building when we took over from the previous management. Since we took over, we secured a 15year lease from the council. |
The charity aims to develop a diverse funding base for its activities. While Camden council remains our source of funding , we continue to attract funding for various projects from a wide range of other sources - charitable trusts, private companies, donations and the community centre's own income generating activities. |
Throughout the year, the Directors reviewed quarterly management accounts and control was also exercised by senior staff and the Treasurer in line with the Charity's Financial Management Policy. |
BENGALI WORKERS ASSOCIATION (Registered number: 02903924) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
PLANNING FOR THE FUTURE |
Subject to satisfactory funding arrangements we intend to continue facilitating activities outlined as above over the forthcoming year. |
Our future development aims include: |
i. Strengthening the Surma Community Centre as a community hub by maintaining and/or increasing the capacity of existing services. |
ii. Adding other provisions and developing further projects to meet the identified needs of the local community thus further enhancing community cohesion. |
iii. Increasing the level of volunteer engagement in service delivery arms. |
iv. Adopting a more holistic approach to clients to identify and tackle underlying needs. |
v. Further developing an all-round holistic employability support service. |
vi. Agreeing a model for the re-development of the Surma Centre as an exemplar community hub model which espouses joint working through co-location of services. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The Charity is registered as a charitable company limited by guarantee and is governed by its Memorandum and Articles of Association. The Charity has no share capital or debentures, hence there are no Directors' Interests requiring disclosure. In the event of the Charity being wound up each member is required to contribute an amount not exceeding £1. |
Organisational structure |
Bengali Workers' Association is managed by a voluntary Board of Trustees and operates from the Surma Community Centre. Established in 1976, it is a successful, vibrant community facility and resource providing a safe and welcoming hub for the wider community. |
The Surma Community Centre exists to improve the quality of life for local people by offering excellent services which provide a range of educational, employment, healthy lifestyle, recreational, cultural and social opportunities. In addition, it provides information, advice and guidance to users on a wide range of matters and signposts them to the appropriate point for specialist advice. It is a place people from diverse backgrounds come to socialise, learn and develop. |
The Board are responsible for setting general policy, finalising and approving the annual plan and budget, monitoring the charity and taking major decisions about the strategic direction of the charity and any capital expenditure. |
Management |
The Board employ a chief officer who manages the day to day administration of the charity, ensures the Trustees are fully informed of key changes in legislation and good practice and ensures adherence to all legal and financial requirements. The chief officer leads on strategy & sustainability, business & partnership development and co-ordinates fundraising initiatives. The remaining staff are employed to manage and develop particular service areas or have specific administration or premises-related responsibilities. |
BENGALI WORKERS ASSOCIATION (Registered number: 02903924) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Appointment, Induction & Training of Trustees |
The Board of Trustees are selected at the AGM, or co-opted during the year, in accordance with the Memorandum and Articles of Association. Invitations for nominations of trustees are sent out prior to the AGM, requesting a personal statement summarising skills and reasons for being nominated as a Trustee. When considering the selection or co-option of trustees, the Board has regard for the diversity of skills needed, and that legal requirements under Charity and Company Law are met. |
New trustee's induction includes detailed information on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the charity. Each trustee is invited for a tour of the buildings to be introduced to the staff and functions of the charity as part of their induction. The functions of the board and its decision-making processes are also explained, as are their individual roles, responsibilities and legal obligations under both charity and company law. Each Trustee has clear responsibilities, are expected to attend all Trustee meetings and are often given a particular role. |
Trustees are encouraged to attend appropriate external and internal training events where these will facilitate the undertaking of their role. Familiarisation on legal obligations takes place throughout the year as and when needed, and staff produce written reports and occasional presentations. There is usually a Forward Strategy and Business Review workshop during the year, to enable Trustees to review the strategic direction of the charity, and re-affirm key priorities. Trustees are invited and encouraged to attend Camden consultation events and to represent the charity at key off-site functions, locally and borough-wide. |
Risk management |
We continue to assess, review, monitor and plan for all risks which the organisation may face, now or in the future. Our Risk Management Strategy comprises a risk register of all aspects of the organisation and its activities, and for each project we undertake, outlining possible risks which may occur, procedures to mitigate the risks identified, and regular reassessments both of the risks already outlined on the register and of projects and activities for potential new risks. All new projects and activities developed and run by the organisation undergo a risk assessment before they begin. This process has heightened awareness to the potential risks faced and will assist with the development of robust contingency plans. These procedures are periodically reviewed by the Board to ensure that they continue to address the needs of the Charity. |
Internal financial control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Significant external risks to funding have also led to the development of a strategic plan which allows for the diversification of the Charity's funding and activities. |
The charity makes little use of financial instruments other than an operational bank account so its exposure to price risk, credit risk, liquidity risk and cash flow risk is not material for the assessment of the assets, liabilities, financial position and profit or loss of the charity. |
We are grateful to our funders including Big lottery, City Bridge, Edward Harvest and Camden Council for providing funds to help our local residents. We are also thankful to our staff, volunteers, partner organisations, friends for their assistance during the pandemic , helping us distributing hot meals to the vulnerable people, children and families. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
BENGALI WORKERS ASSOCIATION (Registered number: 02903924) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
Trustees |
Independent Examiner |
ACN Accountants |
Chartered Certified Accountants |
41 Orsett Road |
Grays |
Essex |
RM17 5DS |
Website |
www.bwa-surma.org |
Bankers |
CAF Bank Ltd |
25 Kings Hill Avenue |
Kings Hill |
West Mailing |
Kent |
ME19 4JQ |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
BENGALI WORKERS ASSOCIATION |
Independent examiner's report to the trustees of BENGALI WORKERS ASSOCIATION ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Anwar Faruque Chowdhury FCCA |
ACN Accountants |
Chartered Certified Accountants |
41 Orsett Road |
Grays |
Essex |
RM17 5DS |
31 January 2025 |
BENGALI WORKERS ASSOCIATION |
Statement of Financial Activities |
for the Year Ended 31 March 2024 |
31.3.24 | 31.3.23 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income | 2 |
Total |
EXPENDITURE ON |
Charitable activities |
Trips and Community Activities | 660 | - | 660 | 825 |
LBC SPF Neighbourhoods | - | 42,000 | 42,000 | 63,000 |
Venue Hire | 17,500 | - | 17,500 | 20,471 |
Camden Giving | - | 3,000 | 3,000 | 13,771 |
Sports England | - | - | - | 10,000 |
City Bridge Trust | - | 18,830 | 18,830 | 18,830 |
Flood Victims | - | - | - | 19,408 |
Together for London Fund | - | 10,000 | 10,000 | - |
BWA Equity Fund | - | 5,000 | 5,000 | - |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 31,744 |
BENGALI WORKERS ASSOCIATION (Registered number: 02903924) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 9 |
Unrestricted funds: |
General fund | 16,953 | 31,744 |
TOTAL FUNDS | 31,744 |
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 |
BENGALI WORKERS ASSOCIATION |
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. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. |
BENGALI WORKERS ASSOCIATION |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
2. | INVESTMENT INCOME |
31.3.24 | 31.3.23 |
£ | £ |
Deposit account interest |
3. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.3.24 | 31.3.23 |
£ | £ |
Other operating leases | 28,850 | 14,424 |
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. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
31.3.24 | 31.3.23 |
Admin | 1 | 1 |
Operation | 2 | 2 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Charitable activities |
- | 18,103 |
Trips and Community Activities | 825 | - | 825 |
LBC SPF Neighbourhoods | - | 63,000 | 63,000 |
Venue Hire | 20,471 | - | 20,471 |
Camden Giving | - | 13,771 | 13,771 |
Sports England | - | 10,000 | 10,000 |
City Bridge Trust | - | 18,830 | 18,830 |
Flood Victims | - | 19,408 | 19,408 |
BENGALI WORKERS ASSOCIATION |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 40,989 | - |
TOTAL FUNDS CARRIED FORWARD | 31,744 | - | 31,744 |
7. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2023 and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Accrued expenses |
9. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.23 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 31,744 | (14,791 | ) | 16,953 |
TOTAL FUNDS | (14,791 | ) | 16,953 |
BENGALI WORKERS ASSOCIATION |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
9. | 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 | 5,870 | (20,661 | ) | (14,791 | ) |
Venue Hire | 17,500 | (17,500 | ) | - |
Trips and Community Events | 660 | (660 | ) | - |
Luncheon Club | 2,445 | (2,445 | ) | - |
( |
) | (14,791 | ) |
Restricted funds |
Older People's Project | 49,849 | (49,849 | ) | - |
LBC SPF Neighbourhoods | 42,000 | (42,000 | ) | - |
Camden Giving | 3,000 | (3,000 | ) | - |
City Bridge Trust | 18,830 | (18,830 | ) | - |
Together for London Fund | 10,000 | (10,000 | ) | - |
BWA Equity Fund | 5,000 | (5,000 | ) | - |
( |
) | - |
TOTAL FUNDS | ( |
) | (14,791 | ) |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.4.22 | in funds | funds | 31.3.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 19,827 | (9,245 | ) | 21,162 | 31,744 |
Venue Hire | 5,822 | - | (5,822 | ) | - |
Membership Subscription | 3,030 | - | (3,030 | ) | - |
LBC Business Rate Award | 12,310 | - | (12,310 | ) | - |
40,989 | (9,245 | ) | - | 31,744 |
TOTAL FUNDS | 40,989 | (9,245 | ) | - | 31,744 |
BENGALI WORKERS ASSOCIATION |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
9. | 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 | 1,374 | (10,619 | ) | (9,245 | ) |
Venue Hire | 22,395 | (22,395 | ) | - |
Trips and Community Events | 825 | (825 | ) | - |
Luncheon Club | 2,477 | (2,477 | ) | - |
27,071 | (36,316 | ) | (9,245 | ) |
Restricted funds |
Older People's Project | 18,103 | (18,103 | ) | - |
LBC SPF Neighbourhoods | 63,000 | (63,000 | ) | - |
Camden Giving | 13,771 | (13,771 | ) | - |
Sports England | 10,000 | (10,000 | ) | - |
City Bridge Trust | 18,830 | (18,830 | ) | - |
Flood Victims | 19,408 | (19,408 | ) | - |
143,112 | (143,112 | ) | - |
TOTAL FUNDS | 170,183 | (179,428 | ) | (9,245 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.4.22 | in funds | funds | 31.3.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 19,827 | (24,036 | ) | 21,162 | 16,953 |
Venue Hire | 5,822 | - | (5,822 | ) | - |
Membership Subscription | 3,030 | - | (3,030 | ) | - |
LBC Business Rate Award | 12,310 | - | (12,310 | ) | - |
40,989 | (24,036 | ) | - | 16,953 |
TOTAL FUNDS | 40,989 | (24,036 | ) | - | 16,953 |
BENGALI WORKERS ASSOCIATION |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
9. | 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 | 7,244 | (31,280 | ) | (24,036 | ) |
Venue Hire | 39,895 | (39,895 | ) | - |
Trips and Community Events | 1,485 | (1,485 | ) | - |
Luncheon Club | 4,922 | (4,922 | ) | - |
53,546 | (77,582 | ) | (24,036 | ) |
Restricted funds |
Older People's Project | 67,952 | (67,952 | ) | - |
LBC SPF Neighbourhoods | 105,000 | (105,000 | ) | - |
Camden Giving | 16,771 | (16,771 | ) | - |
Sports England | 10,000 | (10,000 | ) | - |
City Bridge Trust | 37,660 | (37,660 | ) | - |
Flood Victims | 19,408 | (19,408 | ) | - |
Together for London Fund | 10,000 | (10,000 | ) | - |
BWA Equity Fund | 5,000 | (5,000 | ) | - |
271,791 | (271,791 | ) | - |
TOTAL FUNDS | 325,337 | (349,373 | ) | (24,036 | ) |
10. | RELATED PARTY DISCLOSURES |