SRISHTI YUVA CULTURE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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1. Accounting Policies
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| The principal accounting policies adopted by the Charity, which is a public benefit entity, in the preparation of the accounts are as follows. |
1.1 Basis of preparation
These accounts have been prepared under the historical cost convention, as modified by the inclusion of charitable properties and fixed asset investments and investment properties at valuation.
These accounts have been prepared in accordance with “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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
These accounts are presented in pounds sterling and rounded to the nearest pound.
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1.2 Going concern
The Trustees have prepared financial projections, taking into consideration the current economic conditions and have, at the time of approving these accounts, a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the accounts.
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1.3 Income from donations or grants
Income from donations and grants is recognised when the charity is entitled to the funds, the receipt is probable and the amount can be measured reliably. For donations, this is usually on receipt. For grants, this is usually when a formal o'er is made in writing. If a donation or grant contains terms and conditions outside of the charity’s control which must be met before the charity is entitled to the funds, or if the donor specifies that the funds must be used in future time periods, then the income is deferred.
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1.4 Legacies
Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.
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1.5 Expenditure
Expenditure is recognised when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be estimated reliably. It is inclusive of VAT which cannot be recovered.
Direct costs are those costs which directly attribute to its activities. Wages and salaries are allocated to direct costs based on an estimate of time spent on charitable activities by staff members.
Support costs include staff costs and are those which do not produce a direct output. Staff costs relate to specific activities and this is reflected in the allocation of payroll costs based on the percentage of time spent.
All costs, including governance costs, are allocated between the expenditure categories of the charity on a basis designed to reflect the use of the resource. Costs relating to a particular activity are charged directly; others are apportioned on an appropriate basis.
Support costs and overheads have been calculated by allocating staff time to the level of involvement in the various activities of the Charity.
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1.6 Financial instruments
Charities preparing accounts normally measure a basic financial asset or basic financial liability on its initial recognition at the amount receivable or payable adjusted for any related transaction costs. However, if initially measured at fair value, transaction costs are not included in the measurement of financial assets or liabilities; instead, the transaction costs are treated as an expense. If extended credit is offered, the accounting treatment depends on those extended credit terms.
The subsequent measurement of financial assets and financial liabilities depends on their nature and settlement dates. The carrying amount must be calculated without any deduction for transaction costs that may be incurred on sale or disposal.
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1.7 Fund accounting
Unrestricted funds are those funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes.
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2. Income from Donations and Legacies
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| Analysis |
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Unrestricted funds |
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Total funds 2025 |
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Total funds 2024 |
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£ |
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£ |
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£ |
| General grants provided by Government/other charities |
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11,000.00 |
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11,000.00 |
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24,770.00 |
| Membership subscriptions and sponsorships which are in substance donations |
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2,025.00 |
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2,025.00 |
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- |
| Total |
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13,025.00 |
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13,025.00 |
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24,770.00 |
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3. Expenditure on Raising Funds
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| Analysis |
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Unrestricted funds |
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Total funds 2025 |
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Total funds 2024 |
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£ |
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£ |
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£ |
| Fund raising agents |
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15,240.04 |
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15,240.04 |
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- |
| Investment administration costs |
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- |
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- |
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1,080.00 |
| Rent collection, property repairs and maintenance charges |
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16,000.00 |
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16,000.00 |
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- |
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Total
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31,240.04
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31,240.04
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1,080.00
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| Support Costs |
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8,500.00 |
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8,500.00 |
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- |
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39,740.04 |
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39,740.04 |
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1,080.00 |
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4. Expenditure on Charitable Activities
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| Analysis |
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Unrestricted funds |
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Total funds 2025 |
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Total funds 2024 |
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£ |
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£ |
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£ |
| Interest payable |
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203.53 |
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203.53 |
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- |
| Bank charges |
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60.00 |
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60.00 |
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- |
| Charity management & administration |
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316.89 |
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316.89 |
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11,363.00 |
| Charity running cost |
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735.80 |
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735.80 |
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- |
| Legal/professional fees |
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1,582.86 |
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1,582.86 |
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- |
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Total
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2,899.08
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2,899.08
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11,363.00
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| Support Costs |
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10,200.00 |
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10,200.00 |
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- |
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13,099.08 |
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13,099.08 |
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11,363.00 |
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| Analysis |
Total funds 2025 |
| £ |
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Support Costs
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| Staff costs |
17,000.00 |
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Governance Costs
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| Accountants fees |
1,700.00 |
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18,700.00 |
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6. Debtors: Amounts falling due within one year
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Total funds 2024 |
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£ |
| Other debtors |
19,000.00 |
| Total |
19,000.00 |
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7. Cash at bank and in hand
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Total funds 2025 |
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Total funds 2024 |
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£ |
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£ |
| Cash at bank and in hand |
22,511.81 |
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30,921.00 |
| Total |
22,511.81 |
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30,921.00 |
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8. Creditors: Amounts falling due within one year
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Total funds 2025 |
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Total funds 2024 |
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£ |
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£ |
| Accruals for accountancy costs |
1,700.00 |
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900.00 |
| Bank loans and overdrafts |
798.60 |
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2,152.00 |
| Other creditors |
12,200.00 |
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- |
| Total |
14,698.60 |
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3,052.00 |
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9. Creditors: Amounts falling due after one year
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Total funds 2025 |
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£ |
| Bank loans and overdrafts |
758.33 |
| Total |
758.33 |
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10.1 Details of material funds held and movements during the CURRENT reporting period
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| Fund names |
Fund balances brought forward |
Income |
Expenditure |
Transfers |
Gains and losses |
Fund balances carried forward |
| £ |
£ |
£ |
£ |
£ |
£ |
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Unrestricted funds
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|
46,869.00 |
13,025.00 |
52,839.12 |
- |
- |
7,054.88 |
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10.2 Details of material funds held and movements during the PREVIOUS reporting period
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| Fund names |
Fund balances brought forward |
Income |
Expenditure |
Transfers |
Gains and losses |
Fund balances carried forward |
| £ |
£ |
£ |
£ |
£ |
£ |
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Unrestricted funds
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34,542.00 |
24,770.00 |
12,443.00 |
- |
- |
46,869.00 |
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11. Average Number of Employees
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Average Employees
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This year
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Last year
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0 |
0 |
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Total Employees
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0 |
0 |
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Average number of employees during this year : 0 and last year : 0
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12. Limited By Guarantee
The company is limited by guarantee and does not have share capital
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13. Related Party Transactions
During the year, the charity entered in to transactions with a company that has mutural trustees and directors/members. The total of such transactions totalled £15,000.
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