2021-12-31-accounts - Hindu Cultural Association (Wales)

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Hindu Cultural Association (Wales)

(Registered Charity no: 1002569)

Independent Examiner Report and Financial Statements

Year ended: 31 December 2021

Contents

Legal and administrative information Report of the trustees 2-4 Report of the independent examiner Statement of financial activities Summary income and expenditure account Charity balance sheet 8 Notes forming part of the financial statements 9-11

Hindu Cultural Association (Wales)

Legal and administrative information during the year ended 31 December 2021

Executive Committee:

Chair Mrs. Niru Kumar Vice Chairperson Dr. R K Tiwari Secretary Mr. Suresh Arava Deputy Secretary Dr. Rahul Kotwall Treasurer Dr. Yogesh Nathdwarawala Deputy Treasurer Versha Sood Registered Office: India Centre Sanquhar Street Cardiff CF24 2AA Independent Examiners: Sivapalan & Co Chartered Certified Accountants 168 City Road Cardiff, CF24 3JE Bankers: Lloyds TSB Bank PLC 514 Cowbridge Road East Victoria Park Cardiff CF5 1BL

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Hindu Cultural Association (Wales)

Annual Report of the Management Committee for the Year to 31 December 2021

Hindu Cultural Association (Wales) is registered with the Charity Commission and has charitable status for taxation purposes.

Structure, governance and management

The Governance document of Hindu Cultural Association (Wales) is its Constitution and it is an unincorporated association.

Board of Trustees:

The Charity is administered by an executive committee, comprising:

Chairperson Mrs. Niru Kumar Vice Chairperson Dr. R K Tiwari Secretary Mr. Suresh Arava Deputy Secretary Dr. Rahul Kotwall Treasurer Dr. Yogesh Nathdwarawala Deputy Treasurer Versha Sood

Current Trustees upto April 2022 After April 2022 Mr. Prabhat Kumar Mr. Prabhat Kumar Dr. Poonam Singhal Dr. Poonam Singhal Dr. Hari Narayan Choudhary Dr. Chandrahas Roy Mr. Ashok Aggarwal Mrs. Sunaina Purbey Mrs. Kamla Syal Dr. Ravi Tiwari

Appointment of Trustees

The governors have been installed since the formation of the board of governors and are familiar with the aims and objectives of the Community.

The Hindu Cultural Association’s Policy for the appointment of new governor trustees is normally by means of bi-annual elections.

All custodian trustees are appointed by the Board of Governors.

Organizational Structure

The Executive Committee currently consists of six executive officers, President and two vice presidents who, along with the Board of Governors (24), meet regularly to discuss and review the financial position, the fund raising strategy and all other charity matters, with all major decisions being made at these meetings. Day to day minor matters is delegated to the staff and volunteers.

Objects and Activities

The Charity’s objects are supported by the charity’s sole activity. The Objectives of the charity is to advance the understanding and awareness of Hindu religion and advance education, relieve poverty, distress and sickness amongst the Hindu community residents in Wales. The Charity depends upon the continuing help of volunteer’s particularly young people.

Achievements and Performance

The Hindu Cultural Association (Wales) is keen to offer a range of services during the week and over the course of the year that our community find both beneficial and spiritually fulfilling. During the year due to Covid-19 situation membership numbers haven’t changed and the Charity’s continuing aim is to increase the incoming resources in order to provide services in line with its constitution.

As a future plan, the Hindu Cultural Association (Wales) is committed to continuing the charity’s aim and objectives. We are all conscious that the present premises are too small but have exciting plans to extend the property at the rear, in order that the activities at the Centre can be further expanded.

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Hindu Cultural Association (Wales)

During the Covid-19 pandemic, the management committee was greatly committed to helping society at large. The management committee is privileged and feels honored that the Hindu Cultural Association (Wales) was granted permissions and permitted to organized a Covid-19 Vaccination site at the charity premises for the public.

Internal Control and Risk Management.

The trustees have the responsibility for ensuring that the charity has in place an appropriate system of controls, financial and otherwise, to provide reasonable assurance that the charity is operating efficiently and effectively, its assets are safeguarded against unauthorized use or disposition, that proper records are maintained and financial information used within the charity or for publication is reliable and the charity complies with relevant laws and regulations.

The Trustees actively review on a regular basis the principal risks which the charity faces, notably the threat arising from any prolonged decline in voluntary income, and believe that the systems which have been established to enable the production of regular reports in all financial and operational areas will effectively mitigate these risks.

Public Benefit Statement

In furtherance of the objectives of the Centre, the Trustees of Hindu Cultural Association (Wales) have complied with the duty in S17 of the Charities Act 2011 to have due regard to the Charity Commission’s published general and sub-sector guidance concerning the operation of the Public Benefit requirement under the Act.

Financial review

The state of the Charities affairs at 31st December 2021 and the results of its operations for the year ended on that date are set out in the attached financial statements.

Total receipts on unrestricted funds have decreased by £ 67,168 in the year and amounted to £54,778 compared to £121,946 last year. In the period ended 31 December 2020 , charity received a sum of £50,000 as donation from Home office. If this is excluded from last year’s figure and then compare ,the incoming donation funds have decreased by £17,152 (2021 £54,778 , 2020 £71,930 (£121,930-£50,000)).

The Charity made a Surplus of £4,124 (2020: Surplus 65,194) after depreciation of Tangible assets.

Further analysis shows that during the current year the Charity has made a profit of £14,908 (2020: profit £74,019) before depreciation of Tangible assets. The Charity reported liabilities of £1,547 (2020: £ 131) in the balance sheet. The Charity’s reserves as at 31 December 21 stood at £638,400 (2020:£ 634,276)

The Principal sources of income for the Hindu Cultural Association (Wales) are donations from the Public. Current Covid-19 restriction the Charity wasn’t able to operate to its full capacity and was closed for public for approximately 10 months during the year ending 31 December 2021.

Due to Covid-19 the actual donation from the various streams of income has decreased .The above small surplus was mainly as a result of all the Government support that the charity has received. The Charity had received a £2,000 grant from Welsh Geovernment, also the charity benefited from HMRC Corona Virus Job retention grant totaling £8,966 to cover employee cost for the year ended 31 December 2021.

The activities of the charity have continued to highlight awareness of the charity and its work with the local community. The Trustees acknowledge the efforts of the staff, governors and volunteers in this direction, which has been enhanced by the support of a number of affiliated groups.

Expenditure remains under constant review, as the charity continues to make effort to minimize running costs of the premises.

Reserves Policy

As at 31[th] December 2021 free reserves amounts to £638,400(2020: 634,276). Our policy on reserves is to ensure that we have sufficient funds available to meet our commitments and the Executive Committee will consider designating reserves for specific purpose where it is considered to be necessary in the future.

Volunteers

The trustees are also extremely grateful to all volunteers who give up their free time to help further the aims of the charity.

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Hindu Cultural Association (Wales)

Statement of Management committee’s Responsibilities

The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 01 January 2015.

The accounts have been prepared to give a true and fair view of the state of affairs of the charity and of its financial activities for that period and have departed from the Charities (Accounts & Reports) Regulation 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 rather the accounting and Reporting by Charities: Statement of Recommended Practice effective from 01 April 2005 which has since been withdrawn.

Charity Law requires the management committee to prepare a Profit and Loss account and statement of assets and liabilities for each year, which give a true and fair view of the state of affairs of the charity and of its financial activities for that period which properly present the charity’s income and expenditure for the year together with its assets and liabilities at the end of the year and adequately distinguish any material special trust or other restricted fund of the charity. In preparing those financial statements the management committee is requires to:-

a) Select Suitable policies and then apply them consistently;
b) Make judgments and estimates that are reasonable and prudent;
c) State whether the policies adopted are in accordance with the appropriate SORP on Accounting by charities and the Accounting Regulations and with applicable accounting Standards, Subject to any material departures disclosed and explained in the financial statements

The management committee is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time, the financial position of the charity, and to enable them to ensure that the financial statements comply with regulations stipulated in the Charities Act 2011.They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the privation and detection of fraud or other irregularities.

Statement as to Disclosure of information to Independent Examiners

So far as the management committee is aware, there is no relevant information of which the charity’s Independent reviewers are unaware and each Trustee has taken steps that he ought to have taken as a Trustee in order to make himself aware of any relevant information and to establish that the charity’s Independent examiners are aware of that information.

A resolution proposing that Sivapalan & Co be re-appointed as Independent examiner of the charity will be put to the Annual General Meeting.

_____ Mrs Niru Kumar (Chairperson) Dated: For an on behalf of the Management Committee

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Hindu Cultural Association (Wales)

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF HINDU CULTURAL ASSOCIATION (WALES) FOR THE YEAR ENDED 31 DECEMBER 2021

I report on the accounts of the Trust for the year ended 31 December 2021, which are set out on pages 6 to 11

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts (financial Statement) in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdraw.

We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2017.

The charity’s 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 Commissioner 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 Commissioner. 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 the seeking of 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 statement below.

Independent examiner’s statement

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

Which gives me reasonable cause to believe that, in any material respect, the requirements
(a) To keep accounting records in accordance with section 130 of the 2011 Act; and
(b) To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Mr R Sivapalan Date: Sivapalan & Co Ltd Chartered Certified Accountants 168 City Road Cardiff CF24 3JE

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Hindu Cultural Association (Wales)

Statement of Financial Activities for the year ended 31 December 2021.

Unrestricted Funds Notes £ Income from Charitable activities Donations 1(e) 30,729 Festivals, Function and Events - Hall Hire & Sponsorship Income - Membership Fees 3,678 Grant 10,966 Gift Aid 9,400 54,773 Investment Income Deposit Account Interest - Other Income Insurance reclaim - Interest Income 6 Total Income and endowments 54,779 Expenditure on charitable activities Festival, Function and Events 2,301 Groceries, Provision and Catering Costs 1,114 Wages and NI 16,486 Pensions 202 Temple Expenses 2,450 Rates and Water 2,174 Repairs and Renewals 3,369 Light and Heat 6,591 Donations, Subscription and Licenses Alarm & Security 360 Insurance 948 Telephone 782 Printings, Postage and Stationery 35 Website Expenses Accountancy ,Independent Examination & Legal 1,584 Cleaning and Refuse Collection 1,256 Bank Charges and Interest 219 Depreciation on Fixed Assets 3,323 Depreciation on Building 7,461 Other Expenditure - Total Expenditure on charitable activities 50,655 Net income / (expenditure) 4,124 Total Funds at 1 January 21 634,276 Total Funds at 31 December 21 638,400	Restricted Funds £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	2021 Total Funds £ 30,729 - - 3,678 10,966 9,400 54,773 - - 6 54,779 2,301 1,114 16,486 202 2,450 2,174 3,369 6,591 360 948 782 35 1,584 1,256 219 3,323 7,461 50,655 4,124 634,276 638,400	2020 Total Funds £ 80,950 - - 1,200 34,386 4,203
			121,930 - - 16
			121,946 7,579 3,920 13,770 227 1,402 586 4,491 - - 1,240 718 - - 10,947 641 138 1,728 7,097
			56,752
			65,194 569,082
			634,276

All of the above results are derived from continuing activities.

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Hindu Cultural Association (Wales)

Income and Expenditure account for the year ended 31 December 2021

Notes Income Festivals, Function and Events Donations, Grant & Other Income Hall Hire & Sponsorship Income Membership Fees Grants Gift Aid Deposit Account Interest Expenditure Festival, Function and Events Groceries, Provision and Catering Costs Wages and NI Pension Temple Expenses Rates and Water Repairs and Renewals Light and Heat Donations, Subscription and Licenses Alarm & Security Insurance Telephone Printings, Postage and Stationery Website Expenses Accountancy ,Independent Examination & Legal Professional Fees Cleaning and Refuse Collection Bank Charges and Interest Depreciation Net Surplus / (Deficit) For the Year	£ 2,301 1,114 16,486 202 2,450 2,174 3,369 6,591 - 360 948 782 35 - 1,584 1,256 219 3,323	2021 £ - 30,729 - 3,678 10,966 9,400 6 54,779 50,655 4,124	£ 7,579 3,920 13,770 227 1,402 2,268 586 4,491 - - 1,240 718 - - 10,947 641 138 8,825	2020 £ 1,192 80,950 - 1,200 34,386 4,203 16
				121,946 56,752

				65,194

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Hindu Cultural Association (Wales)

Statement of Assets and Liabilities as at 31 December 2021

Notes Fixed assets Tangibles assets 2 Investments Current assets Debtors 3 Cash at Bank and in hand Creditors: amounts falling due within one year 4 Net Current Assets Total assets less Current liabilities Net Assets Funds: Balance brought forward Surplus /(Deficit) over expenditure Total Funds	2021 £ 544,099 4,762 9,400 81,686 __ 91,086 (1,547) __ 89,539 __ 638,400 __ 638,400 634,276 4,124 __ 638,400	2020 £ 533,163 4,762 - 96,482 _ 96,482 (131) _ 96,351 _ 634,276 _ 634,276
		569,082 65,194 __ 634,276

Trustees’ Declaration

These accounts have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011, and Accounting and Reporting by Charites: 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 published on 16 July 2014 and notes form part of these financial statements

We approved these accounts and confirm that we made available all relevant records and information for their preparation

No members have required the charity to obtain an audit of its accounts for the year in question

The Management acknowledges their responsibility for complying with the requirements of the act with respect to accounting records and for the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime

_______ Date: Mrs Niru Kumar (Chairperson)

_______ Date: Dr. Yogesh Nathdwarawala (Treasurer)

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Hindu Cultural Association (Wales)

Notes to the Financial Statements for the year ended 31 December 2021

1) Accounting policies

(a) Basis of preparation

The financial statements 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Hindu Cultural Association (Wales) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognized at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

(b) Incoming resources

Voluntary income including donations and gifts are recognized in full in the statement of Financial activity in the financial year in which it is receivable. No amounts are included in the accounts for services donated by volunteers.

(c) Resources expended

All expenditure is accounted for on an accrual basis, and has been classified under headings that aggregate all costs related to the category .

(d) Fund accounting

Unrestricted General funds are 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. Unrestricted Designated Funds are funds set aside by the trustees out of unrestricted general funds for specific future purpose or projects.

Restricted Funds are funds that can only be used for particular restricted purposes with in the objects of the charity. Restrictions arise when specified by the donor, or when funds are raised for particular restricted purposes. These funds amount to £2 deposited in a separate Bank account.

(e) Tangible fixed assets and depreciation

Depreciation is calculated to write off cost or valuation, less estimated residual value, of the tangible fixed assets over their estimated useful lives. The annual depreciation rates and methods are as follows

2021 2020

Land Nil Nil Building 50 years 50 years Fixtures and equipment 15% Reducing Balance 15% Reducing Balance

(f) Taxation

The charity is exempt from tax on income and gains falling within S478 of the Taxes Act 2010 or S256 of the Taxation of chargeable Gains Act 1992 to the extent that these are applied to its charitable objects, No tax Charges have arisen in the charity

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Hindu Cultural Association (Wales)

Notes to the Financial Statements for the year ended 31 December 2021 (Continued)

2) Tangible fixed assets

Freehold Land and Buildings £ COST At 1 January 2021 554,856 Additions 18,220 _ 573,076 DEPRECIATION At 1 January 2021 31,485 Charge for Year 7,461 _ 38,946 NET BOOK VALUE At 31 December 2021 534,130 At 31 December 2020 523,371 3) Debtors HMRC-Gift Aid Due 4) Creditors: amounts falling due within one year	Fixture and Fittings £ 145,718 3,500 _ 149,218 135,926 3,323 _ 139,249 9,969 9,792 2021 £ 9,400 ___ -		Total £ 700,574 21,720 _ 722,294 167,411 10,784 _ 178,195 544,099 533,163 2020 £ - ___ -

	___

	2021	2020
	£	£
Creditors
Taxation and social security	(36)	84
Accruals	1584	1,584
Wages	-	(1,537)
Pension	-	-
	___	___
	1,548	131

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Hindu Cultural Association (Wales)

Notes to the Financial Statements for the year ended 31 December 2021(Continued)

5) Trustees’ Expenses

No disclosure to make as no payment was made to the Trustees towards any expenses or services during the year end 31 December 2021.

6) Analysis of Funds

Resources Expended £ (50,655) - (50,655) (Increase)/ Decrease Net current Liabilities £ (1,416) - (1,416) 2021 1,584 - 1,584	As at 31 December 2021 £ 638,400 -	As at 31 December 2021 £ 638,400 -
	638,400
	As at 31 December 2021 £ 638,400
		-
		638,400
		2020 1,344 9,603
1,584		10,947

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