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CHARITY REGISTRATION NUMBER: 1159887

Oshwal Elderly Welfare Association CIO

Unaudited Financial Statements

31 December 2016

MALDE & COChartered Certified Accountants

99 Kenton RoadKenton Harrow

MiddlesexHA3 0AN


Financial Statements

Year ended 31 December 2016

Page

Trustees' annual report 1

Independent examiner's report to the trustees 4

Statement of financial activities 5

Statement of financial position 6

Notes to the financial statements 7

The following pages do not form part of the financial statements

Detailed statement of financial activities 14

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Trustees' Annual Report


The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2016.

Reference and administrative details

Registered charity name Oshwal Elderly Welfare Association CIO

Charity registration number 1159887

Principal office 70 St Edmunds DriveStanmoreMiddlesexHA7 2AU

The trusteesMrs Bina S. ShahDr Dinesh P. ShahMrs Urmila D. ShahMrs Anuradhben K. ShahMr Sobhagchand D. ShahMrs Vasantiben D. Shah

Company secretary Mr Sobhagchand D. Shah

Advisors to the trusteesMr Jayantilal M ShahMr Dhirajlal F Shah

Accountants Malde & CoChartered Certified Accountants99 Kenton RoadKenton HarrowMiddlesexHA3 0AN

Structure, governance and management

OEWA CIO is a charitable incorporated organisation and is governed by a constitution dated 23 December 2014.

OEWA CIO has appointed charity trustees to manage the affairs of the CIO and may for that purpose exercise all the powers of the CIO. Details of all trustees that held office during the year is stated above.

The eligibility criteria to become a trustee of OEWA CIO are:

1. The trustee must be a natural person2. Must be aged 50 years or over

At every annual general meeting of the members of the CIO, one-third of the charity trustees shall retire from office. On 20th June 2016 Dinesh Shah and Anuradhben Shah resigned. Both were then re-elected by the members.

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Trustees' Annual Report (continued)


MembershipMembership is open to persons aged 50 or above who are interested in furthering the purpose of OEWA CIO. The purpose of OEWA CIO is to improve the welfare of elderly people of Indian origin by involving them in social and leisure activities, helping them to make and maintain friendships and providing them with information about their mental and physical health.

Membership runs from January to December. The membership fee is £20 for two years. For any members joining in the middle of the year, the membership fee is £1 per remaining month for that year plus £20 for the following two years. The advantage of becoming member are discounted rates to our popular events and the opportunity to register for OEWA CIO organised holidays.

Objectives and activitiesThe objects of OEWA CIO are, for the public benefit, to relieve isolation and sickness and poor health amongst elderly people of Indian origin, in particular, but not exclusively, by:

1. Arranging social and leisure activities.2. Providing activities, services and facilities designed to meet their welfare needs.3. Providing information about other organisations which provide such activities, services and

facilities.

Achievements and performanceOEWA CIO had a successful year in 2016, whereby it achieved its core activities, namely in the form of luncheon/entertainment programmes, overseas holidays and daytrips within the UK.

OEWA CIO worked very hard to organise a variety of interesting and lively events in both North and South London.

In North London, OEWA CIO started the year with a celebration of the Uttarayan Kite Festival on 11 January 2016. Members were given kites to wave in the air whilst they enjoyed a PowerPoint presentation on Uttarayan and live music. Members threw colourful confetti at each other at our lively Holi celebration on 21 March 2016. They were pleased to learn about the festival of Holi through a PowerPoint presentation. At our Aap Ki Pasand luncheon on 25 April 2016, members received an informative presentation on prostate cancer. In the afternoon, they enjoyed listening to member requested songs. On 20 June 2016, members celebrated the Queen's 90th birthday with pomp and glory. Bina Shah narrated the Queen's life story and members waved their British flags with pride. At our Celebration of India's Independence Day luncheon on 15 August 2016, the Trustees welcomed members with India flags, hats and badges and everyone dressed in the colours of the Indian flag-orange, white and green. Entertainment included a a deeply moving presentation on the story of India's struggle for Independence and Independence Day songs by Nituben and her music party. At our Navratri Celebration on 17 October 2016, members were entertained with the story of Navratri and were given dandiyas to dance with. The Diwali Celebration Luncheon on 14 November 2016 was another successful event, where members were given divas and were all encouraged to join in various diva dances. Members also enjoyed a PowerPoint Presentation on the popular Hindu Diwali Story of Ram and Sita. As a special treat, our members enjoyed Amar Pak made by the Trustees. On 19 December 2016, members celebrated Christmas. They were given special Christmas Tree biscuits, listened to the Christmas Story and joined in singing Christmas carols.

In South London, we had a regular weekly luncheon every Thursday with an average attendance of 40 members.

OEWA CIO organised three well-attended holidays. In February/March 2016, members enjoyed seeing the beautiful scenery of South Africa and the famous Victoria Falls in Zimbabwe. Members enjoyed a cultural tour of Moscow and St Petersburg in June 2016. Members experienced many adventures on our Sri Lanka Ramayan Trails tour in September 2016, including a picturesque train journey through tea plantations. The trip ended with a relaxing break at a beach resort. We also organised a fully bookedYatra day trip to Leicester and a trip to Southend-on-Sea.

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Trustees' Annual Report (continued)


Achievements and performance (continued)

OEWA CIO is fortunate to have a team of dedicated volunteers who work tirelessly to make OEWA CIO events a success, and without them we would not have achieved what we have. We would like to thank the kitchen volunteers, who cook a variety of mouth-watering food for our members.

Return of DonationOur previous organisation, Oshwal Elderly Welfare Association, had received £47,749 Oshwal Walkers. The donation was given for the specific purpose of buying a property for OEWA activities. OEWA was unable to fulfil that dream of buying a property. As a result, the donors approached the trustees and their advisers to return the donation so that they can re- donate to other causes. During AGM the members approved the return of the donation by show of hands and the cheque of £47,749 was presented to the donors.

OEWA CIO is fortunate to have a team of dedicated volunteers who work tirelessly to make OEWA CIO events a success, and without them we would not have achieved what we have. We would like to thank the kitchen volunteers, who cook a variety of mouth-watering food for our members.

We would also like to thank the following:

The members who have generously donated towards the Luncheon Tithi to remember their departed loved ones.

Kiritbhai, Marina and their group for lovely entertainment. Nitu Shah and Party for lovely entertainment. The management of the Oshwal Association of UK South London and Kadwa Patidar Samaj for

use of their centres. Sobhagbhai of Roshan Mandap for providing transport and also decorations.

Finally, we would like to thank our members for their continual support. Without our members we would not be able to run OEWA CIO. So a big great THANK YOU to all our members. We ask for forgiveness if knowingly or unknowingly we have hurt anybody's feelings.

Financial reviewOEWA CIO satisfies the criteria for the exemption from an audit of the financial statements.

The result for the period are set out in the financial statements. The net outgoing resource for the period was £6,371 and the amount attributable to unrestricted funds now stands at £308,886.

Reserve policyBearing in mind the aims and objects of the charity, the trustees ensure that unrestricted funds are not invested in fixed and long-term assets, which would stall the progress of the activities. The trustees together with the treasurer regularly monitor the situation for any unenvisaged event and ensure that there are adequate free reserves available for the general purpose of OEWA CIO. The charity has accumulated a significant cash reserve in the event that, should the opportunity arise, a suitable property may be purchased for use by the OEWA CIO.

The trustees' annual report was approved on April 2017 and signed on behalf of the board of trustees by:

Mrs Bina Sobhagchand ShahTrustee/Chairperson

April 2017

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Independent Examiner's Report to the Trustees of Oshwal Elderly Welfare Association CIO


I report on the financial statements for the year ended 31 December 2016, which comprise the statement of financial activities, statement of financial position and the related notes.

Respective responsibilities of trustees and examiner

The trustees are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

examine the accounts under section 145 of the 2011 Act;

to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and

to state whether particular matters have come to my attention.

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the next statement.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements:

to keep accounting records in accordance with section 130 of the 2011 Act, and

to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act

have not been met, or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Sirishkumar V Malde FCCA

MALDE & COChartered Certified Accountants 99 Kenton RoadKenton HarrowMiddlesexHA3 0AN

April 2017

The notes on pages 7 to 12 form part of these financial statements.

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Statement of Financial Activities

31 December 20162016 2015

Unrestricted funds

Restricted funds Total funds Total funds

Note £ £ £ £IncomeDonations and membership 4 21,854 658 22,512 299,976Charitable activities 5 44,689 – 44,689 41,700Investment income 6 4,360 – 4,360 2,931

--------------------------- -------------- --------------------------- --------------------------------

Total income 70,903 658 71,561 344,607=========================== ============== =========================== ================================

ExpenditureExpenditure on charitable activities 7,8 29,525 658 30,183 29,350Other expenditure 9 47,749 – 47,749 –

--------------------------- -------------- --------------------------- --------------------------------

Total expenditure 77,274 658 77,932 29,350=========================== ============== =========================== ================================

--------------------------- -------------- --------------------------- --------------------------------

Net (expenditure)/income and net movement in funds (6,371) – (6,371) 315,257

=========================== ============== =========================== ================================

Reconciliation of fundsTotal funds brought forward 315,257 – 315,257 –

-------------------------------- -------------- -------------------------------- --------------------------------

Total funds carried forward 308,886 – 308,886 315,257================================ ============== ================================ ================================

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The notes on pages 7 to 12 form part of these financial statements.

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Statement of Financial Position

31 December 2016

Period fromYear to 12 Jan 15 to

31 Dec 16 31 Dec 15£ £ £

Fixed assetsTangible fixed assets 13 1,288 1,513

Current assetsDebtors 14 3,346 6,960Cash at bank and in hand 322,362 323,699

───────── ─────────

325,708 330,659

Creditors: amounts falling due within one year 15 18,110 16,915───────── ─────────

Net current assets 307,598 313,744───────── ─────────

Total assets less current liabilities 308,886 315,257───────── ─────────

Net assets 308,886 315,257═════════ ═════════

Funds of the charityUnrestricted funds 308,886 315,257

───────── ─────────

Total unrestricted funds 308,886 315,257───────── ─────────

Total charity funds 17 308,886 315,257═════════ ═════════

These financial statements were approved by the board of trustees and authorised for issue on April2017, and are signed on behalf of the board by:

Mrs Bina S. ShahTrustee/Chairperson

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Notes to the Financial Statements


1. General information

The charity is registered charity in England and Wales and is unincorporated. The address of the principal office is 70 St Edmunds Drive Stanmore Middlesex HA7 2AU.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 12 Jan 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 19.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are subjected to restrictions on their expenditure declared by the donor or which have been raised by the charity for a particular purpose. The cost of raising and administering such funds are charged against the specific fund.

Incoming resources

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

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Notes to the Financial Statements (continued)


3. Accounting policies (continued)

Incoming resources (continued)

income from donated goods is measured at the fair value of the goods unless this is impracticle to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliabily measured. No amounts are included for the contribution of general volunteers.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes VAT, and is classified under headings of the statement of financial activities to which it relates:

expenditure on raising funds includes the costs of all fundraising activities and events. expenditure on charitable activities includes all costs incurred by a charity in undertaking

activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable,

justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Equipment - 25% reducing balance

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or parable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

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4. Donations and membership

Unrestricted Funds

Restricted Funds

Total Funds 2016

£ £ £DonationsDonations 8,506 – 8,506Nepal earthquake – – –Muscular dystrophy – – –

GrantsLuncheon grant – 377 377Light and heat grant – 281 281

SubscriptionsMembership income 13,348 – 13,348

──────── ──── ────────

21,854 658 22,512════════ ════ ════════

Unrestricted Funds

Restricted Funds

Total Funds 2015

£ £ £DonationsDonations 5,279 – 5,279Nepal earthquake – 3,222 3,222Muscular dystrophy – 1,500 1,500

GiftsTransfer from OEWA 276,640 – 276,640

GrantsLuncheon grant – 653 653Light and heat grant – 225 225

SubscriptionsMembership income 12,457 – 12,457

───────── ─────── ─────────

294,376 5,600 299,976═════════ ═══════ ═════════

5. Charitable activities

Unrestricted Funds

Total Funds 2016

Unrestricted Funds

Total Funds 2015

£ £ £ £Luncheon collection 20,599 20,599 22,680 22,680Administration fee for trips 24,090 24,090 19,020 19,020

──────── ──────── ──────── ────────

44,689 44,689 41,700 41,700════════ ════════ ════════ ════════

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6. Investment income

Unrestricted Funds

Total Funds 2016

Unrestricted Funds

Total Funds 2015

£ £ £ £Bank interest receivable 4,360 4,360 2,931 2,931

═══════ ═══════ ═══════ ═══════

7. Expenditure on charitable activities by fund type

Unrestricted Funds

Restricted Funds

Total Funds 2016

£ £ £Overseas trips 4,126 – 4,126Luncheons 19,986 658 20,643Charitable donations 750 – 750Support costs 4,663 – 4,663

──────── ──── ────────

29,525 658 30,183════════ ════ ════════

Unrestricted Funds

Restricted Funds

Total Funds 2015

£ £ £Overseas trips 1,818 – 1,818Luncheons 18,331 878 19,209Charitable donations – 4,722 4,722Support costs 3,601 – 3,601

──────── ─────── ────────

23,750 5,600 29,350════════ ═══════ ════════

8. Expenditure on charitable activities by activity type

Activities undertaken

directly Support costsTotal funds

2016Total fund

2015£ £ £ £

Overseas trips 4,126 – 4,126 1,818Luncheons 20,643 – 20,643 19,209Charitable donations 750 – 750 4,722Governance costs – 4,663 4,663 3,601

──────── ─────── ──────── ────────

25,519 4,663 30,183 29,350════════ ═══════ ════════ ════════

9. Other expenditure

Unrestricted Funds

Total Funds 2016

Unrestricted Funds

Total Funds 2015

£ £ £ £Other exceptional expenditure 47,749 47,749 – –

════════ ════════ ════ ════

The exceptional expenditure represents the repayment of a donation received from The Oshwal Walkers UK. Further details in respect of the circumstances of this repayment are detailed in the Trustees Report.

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10. Net (expenditure)/income

Net (expenditure)/income is stated after charging/(crediting):2016 2015£ £

Depreciation of tangible fixed assets 597 505════ ════

11. Independent examination fees

Period fromYear to 12 Jan 15 to

31 Dec 16 31 Dec 15£ £

Fees payable to the independent examiner for:Independent examination of the financial statements 1,800 1,440

═══════ ═══════

12. Trustee remuneration and expenses

The trustees received no remuneration from employment with the charity.

The trustees that travelled on holidays arranged by the charity paid a discounted rate for the holidays. If the trustees had paid the full rate then the charity would have received a further £3,290income during the year.

During the year Dinesh Shah and Shobhagchand Shah incurred expenses totalling £10,233 on behalf of the charity's activities and they were reimbursed this amount by the charity.

13. Tangible fixed assets

Equipment£

CostAt 1 January 2016 2,018Additions 372

───────

At 31 December 2016 2,390═══════

DepreciationAt 1 January 2016 505Charge for the year 597

───────

At 31 December 2016 1,102═══════

Carrying amountAt 31 December 2016 1,288

═══════

At 31 December 2015 1,513═══════

14. Debtors

2016 2015£ £

Prepayments and accrued income 477 512Other debtors 2,869 6,448

─────── ───────

3,346 6,960═══════ ═══════

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15. Creditors: amounts falling due within one year

2016 2015£ £

Accruals and deferred income 18,110 16,915════════ ════════

16. Deferred income

2016 2015£ £

At 1 Jan 2016 15,715 –Amount released to income (11,355) –Amount deferred in year 12,250 15,715

──────── ────────

At 31 Dec 2016 16,610 15,715════════ ════════

Deferred income represents membership income received in advance.

17. Analysis of charitable funds

Unrestricted funds

At 1 January 2016 Income Expenditure

At 31 December

2016£ £ £ £

Unrestricted Fund 315,257 70,903 (77,274) 308,886═════════ ════════ ════════ ═════════

Restricted funds

At 1 January 2016 Income Expenditure

At 31 December

2016£ £ £ £

Luncheon Grant – 658 (658) –════ ════ ════ ════

18. Analysis of net assets between funds

Unrestricted Funds

Total Funds 2016

£ £Tangible fixed assets 1,288 1,288Current assets 325,362 325,362Creditors less than 1 year (18,110) (18,110)

───────── ─────────

Net assets 308,886 308,886═════════ ═════════

19. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The charity transitioned to FRS 102 on 12 January 2015.

No transitional adjustments were required in the retained funds or income or expenditure for the period.

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Management Information


The following pages do not form part of the financial statements.

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Detailed Statement of Financial Activities

31 December 2016

2016 2015£ £

IncomeDonations and membershipDonations 8,506 5,279Nepal earthquake – 3,222Muscular dystrophy – 1,500Transfer from OEWA – 276,640Luncheon grant 377 653Light and heat grant 281 225Membership income 13,348 12,457

──────── ─────────

22,512 299,976──────── ─────────

Charitable activitiesLuncheon collection 20,599 22,680Administration fee for trips 24,090 19,020

──────── ────────

44,689 41,700──────── ────────

Investment incomeBank interest receivable 4,360 2,931

─────── ───────

──────── ─────────

Total income 71,561 344,607════════ ═════════

ExpenditureExpenditure on charitable activitiesInsurance (650) (700)Legal and professional fees (1,800) (1,440)Depreciation (597) (503)Miscellaneous cost for trips (4,125) (1,818)Direct costs for luncheons (20,643) (19,209)Charitable donations (750) (4,722)Bank charges (10) –Printing, postage and stationary (1,607) (958)

──────── ─────────

(30,183) (29,350)──────── ─────────

Other expenditureOther exceptional expenditure (47,749) –

──────── ────

──────── ────────

Total expenditure (77,932) (29,350)════════ ════════

──────── ─────────

Net (expenditure)/income (6,371) 315,257════════ ═════════

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Documents

Unaudited Financial Statements - oewa.weebly.com · ... OEWA CIO started the year with a celebration of the Uttarayan Kite Festival ... PowerPoint presentation on Uttarayan ... festival