Company Registration No. 02055369 (England and Wales)
THE RAGHUVANSHI ASSOCIATION
(COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018
PAGES FOR FILING WITH REGISTRAR
THE RAGHUVANSHI ASSOCIATION
(COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL)
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
THE RAGHUVANSHI ASSOCIATION
(COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL)
BALANCE SHEET
AS AT
31 JANUARY 2018
31 January 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,186,462
1,187,741
Current assets
Debtors
3
1,734
3,556
Cash at bank and in hand
16,801
2,752
18,535
6,308
Creditors: amounts falling due within one year
4
(343,469)
(378,028)
Net current liabilities
(324,934)
(371,720)
Total assets less current liabilities
861,528
816,021
Reserves
Income and expenditure account
861,528
816,021
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.
true
For the financial year ended 31 January 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
T
he 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 9 June 2018 and are signed on its behalf by:
Mr Sunil Radia
Mr Hiten Ruparelia
Director
Director
Company Registration No. 02055369
THE RAGHUVANSHI ASSOCIATION
(COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL)
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2018
- 2 -
Income and expenditure account
£
Balance at 1 February 2016
796,115
Year ended 31 January 2017:
Profit and total comprehensive income for the year
19,906
Balance at 31 January 2017
816,021
Year ended 31 January 2018:
Profit and total comprehensive income for the year
45,507
Balance at 31 January 2018
861,528
THE RAGHUVANSHI ASSOCIATION
(COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018
- 3 -
1
Accounting policies
Company information
The Raghuvanshi Association is a
private
company
limited by guarantee
incorporated in England and Wales.
The registered office is
Compton House, 20b Selsdon Road, South Croydon, Surrey, CR2 6PA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
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
Income and expenditure
All incoming resources are accounted for when the charity has entitlement to the funds, certainty of receipt and the amount is measureable.
Expenditure is recognised on the accrued basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
not depreciated
Fixtures, fittings & equipment
20% on cost
1.4
Taxation
The company is a registered charity and therefore not liable to taxation on the excess of income over expenditure.
THE RAGHUVANSHI ASSOCIATION
(COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2018
- 4 -
2
Tangible fixed assets
Land and buildings Freehold
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 1 February 2017
1,180,790
18,248
1,199,038
Additions
-
2,963
2,963
At 31 January 2018
1,180,790
21,211
1,202,001
Depreciation and impairment
At 1 February 2017
-
11,297
11,297
Depreciation charged in the year
-
4,242
4,242
At 31 January 2018
-
15,539
15,539
Carrying amount
At 31 January 2018
1,180,790
5,672
1,186,462
At 31 January 2017
1,180,790
6,951
1,187,741
3
Debtors
2018
2017
Amounts falling due within one year:
£
£
Service charges due
-
1
Other debtors
1,734
3,555
1,734
3,556
4
Creditors: amounts falling due within one year
2018
2017
£
£
Other creditors
343,469
378,028
Included in other creditors is a secured loan from The Ladumaa Dhamecha Charitable Trust £175,000 (2017: £205,000). This loan is repayable with accrued interest on 31 March 2018, or such other date as agreed between the parties.
Interest of £8,266 at the rate of 5% per annum has been accrued in the accounts in accordance with the agreement.
Also included in other creditors is interest free loan from Lohana Community South London and some of its members of £146,453 (2017: £150,079).
THE RAGHUVANSHI ASSOCIATION
(COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2018
- 5 -
5
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.