Hindu Cultural Association (Wales) (Registered Charity no: 1002569) Independent Examiner Report and Financial Statements Year ended: 31 December 2023
Contents Legal and administrative information Report of the Trustees 24 Report of the Independent Examiner statement of Financial Activities Summary income and expenditure account Charity balan sheet Notes forming part of the financial statements 9-11
Hindu Cultural ASSOCLation (Wales) Legal and administrative information during the year ended 31 December 2023 Executlve Committee: Chair Mrs. Niru Kumar Vlce Chairperson Mrs.Versha Sood Secretary Mr.Suresh Arava Deputy Secretary Mr.Seshakiran Chemudlpatl Treasurer Mr.Santosh Bhat Depuly Treasurer Dr. Amlt Chandratreya Registered Officè.. IndSa Centre Sanquhar Street Cardlff CF24 2AA Independent Examiners: Sivapalan & ¢0 Chartered Certified Accountants 168 City Road Cardiff, CF24 3JE Bankers: Lloyds TSB Bank PLC 514 Cowbridge Road East Vlctorla Park Cardlff CF5 1BL
Hindu CuLtuial Association (Wales) Annual Report of the Management Committee for the Year to 31 December 2023 Hindu Cultural Associalion (Wales) is registered wilh the Charity Commission and has charitable status for laxalion purposes. Structure overnance and mana ement The Govemance document of Hindu Cultural Association (Wales) is ils Constitulion and it is an unincorporated associalion. Board of Trustees- The Charity is administered by an executive Commlttee, comprising". Chairpetson Vice Chairperson Secretary Deputy Secretary Treasurer Deputy Treasurer Mrs. Niru Kumar Mrs. Versha Sood Mr. Suresh Arava Mr. SeshAkiran Chemudipati Mr. Santosh Bhat Dr. Amil Chandr81reya Current Twsteas as at 31 Dac 2023 Mr. Prabhat Kumar Mr. Keshav Singhal Dr. Chandrahas Roy Mr. H N Chaudhry Mr. Ravi Narayan Mr. Bapuji Rao Mr. Salya Kishore Sharma oin nt of Tru8tee8 The govemors have been installed Sin the formation of the board of govemors and are familiar with the aims and objectives of the Community. The Hindu Cullural As80ciatron's Policy for Ihe apwinlment of new govemor twstees is norm811y by mean8 of bi-annual declions. All Custodian trustees are appointed by the Board of Governors. Or ani2ational Struciu The Executive Committee currently consists of nine executive offrcers, President and two VI presid8nls who, along with the Board of Govemors (24), meel regularly to discuss and revièw the financial position, the fund raising slrategy and all other charity matters, with alt major deosions being made at these meetings. Day to day minor malters is delegated lo the staff and volunte8rs. Oh'eets and Activities The Charily's objeds are SUF4)Orted by the charills sole aciivity. The Objectives of the charily is lo advance the understanding and awareness of Hindu religion and advance education, relieve poverty, dislress and sickness amongsl the Hindu community residenls in Wales. The Charity depends upon the continuing help of volunleals particularly young people. Achievemen nd Porfomiance The Hindu Cultural Association Wales) is keen to offer a range of serwces during the week and over the ourse of Ihe year that our community find bolh beneficial and spiritually fulfilling. During the year due to Covid-19 siluation 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. 21Page
Hindu CLEliural Associatioii (Wales) As a future plan, the Hindu Cultural Association Iwales) is committed to continuing the charitls aim and objectives. We are all conscious that the present premises are loo small but have exciting plans to extend the property al the fear, in order that the activities at the Cenlre can be further expanded. During the Covid-19 pandemic, the management commitlee was greatly committed lo helping society at large, The management committee is privileged and feels honored that the Hindu Cultural Associalion IWales} was granted permission 2nd pemiilted to organize a Covld-19 Vaccinalion site at the charity premises far the publÉo Internal Control and Risk Mana emenL The Iruslees have the responsibility for ensuring thal the charity has in place an appropriate system of controls, financial and otherwise, to provide reasonable assurance that the charity is operating èfficiently 8nd effectively, ils assets are safeguarded against unauthorized use or disposition, thal proper records are maintained and finanaal information used within the charity or for publicatson is reliable and the chafily complies wilh relev8nt laws and regulations. The Trustees actively review on a regular basis the principal risks which the chartty faces, notably the Ihreat arising from any prolonged decline in voluntary income, and believe that the systems which have been established to enaue Ihe production of regular reports in all financial and operational areas will effectively mitigate these ri8k8. ubllc Benaflt statemenl In furtherance of the objectives of the Centre, the Trustees of the Hlndu Cultural Association (Wales) have complied with the duly in S17 of the Charities Act 2011 to have due regaid lo the Charity Commission's published general and sub-se¢tor guidance conceming the operation of Ihe Public Benefit requirement under the Ad. inancial revlew The slate of the Charities affalrs at 31sl December 2023 and tha results of its operations for the year ended on Ihal date a sel out in the attached financial statements. Tolal re¢elp18 on unreslricted funds have increased by £ 38,580 in the year and amounled lo £89,129 compared to £50.549 st year. In the period ended 310ecember 2023. the charity received 8 sum of £ 5,977 as a donation from HM Revenue arid Customs towards Gift Aid. The Charily made a surplus of £ 6,791 (2021.. Deficil 4,594) afler the depreciation of Tangible assets. Further analysls shows that during the current year. Ihe Charily has made a Profit of £ 16,121 (2022. profil £5,358) before Ihe depreciation of Tangible assets. The Charity reported liabilities of £4,045 {2022'. £ 4,745) in lh6 balance sheet. The Charily's reserves as of 31 December 23 stood at £ 840.596 {2022.'£ 833,8051 The activities of the charity have continued lo highlight awareness of the charity and ils work with the local community. The Trustees acknowledge the efforts of the staff, govemors and volunteers in this directlon, which has been enhanced by the support of a number of affiliated groups. Expenditure remain8 ufKter conslant revFew. as the charity nIinUeS to make an effort to minimize runnlng costs of the premises. Reserves Pollc As al 311h December 2023 free reserves amounts to £646.887 (2022.. £633.805). Our policy on r6senfes is lo ensure that we have suffi(#ent funds available to meet our commitments and the Executive Commiltee will consider designating reserves for specific purposes where it is considered lo be necessary in the future. Volunteers The Iruste6s are also extremely grateful to all volunteers who give up their free time to help furlher the aims of the charily. 31Pagye
Hindu Cultural Associatioii (Wales) Statement of Management commlttee's Responsibilitie$ The accounts have been wepared 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 Ifeland (FRS102) issued on 16 July 2014 and the Financial Reporiing Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted PraCte as It applies from 01 January 2015. The accounts have been prepared to give a true and fair view of the state of affaits of the charity and of its financial actiwlies for that period and have departed from the Charities (Accounts & Reports) Regulation 2008 only to the extant required to provide a 'true and fair view. This departure has involved Accounting and Reporting by Charities preparing their accounts in accordan with the Financial Repotting Standard applicable in the UK and Republic of Ireland {FRS102) issued on 16 July 2014 rather the accounting and Reporting by Charities: Slalemenl of Recommended Practice éffective trom 01 April 2005 which has since been withdrawn. Charity Law requires the management committee to prepare a Profit and Loss account and slalement of assets and liabilities for each year, which give a true and fair view of the slate of affairs of Ihe charity and of its financial activities for Ihal period which properly present the charily's income and expenditure for the year togelher with ils assets and liabililies al the end of the year and adequately distinguish any material special trust or other restriGled fund of the charity. In preparing those financial staloments the management commlllee is requires to:_ a) Select Suitable policies and then apply Ihem consistently; b) Make judgments and eslimales that are reasonabl8 and prudent; c) Stale whether Ihe policies adopled are in accordanc& wlh the appropriate SORP on Accounting by charities and the Accounting Regulations and with applicable accounting Standards, Subjact lo any malerial departures disclosed and explained in the financial s181em8nts The management committee is responsible for keeping proper accounts'ng records whlch disclose with reasonable accuracy at any time, the fin8ncial position of the charily, and to enable them to ensure that the financial statements comsly with regulalions stlpulaled in the Charities Acl 2011.They are also responsible for safeguardlng the assets of the tharity and hence for taking reasonable steps for the privation and delectlon of fraud or other irregularities. In preparing the financial slatemenls, the trustees are responsible for assessing the company's abllity to continue as a going concern, disclosing. as applicable, malters related to going concern and using the going concern basis of accoLJnling unloss Ihe trustees either inlend lo Ilquidate the charity or lo ce8se operations. or have no realistic alternative bul lo do so. ststement as to Dlsclosure of Infornialion to Independont Examlners So far as the management commtttee is aware, there is no relevant infomalion of which the charity's Independenl reviewers are unaware and each Trustee has taken steps that ho ought lo have laken as a Trustee in order to make himself aware of any reEevanl Informatic and to establish that Ihe ¢harity's Independent examiners ar8 eware of that information. A resolution proposing that Sivapalan & Co be r&appointed as Independent examiner of the charily will be pul to the Annual General Meeting. Mrs Niru Kumar (Chairperson Dalad.. lo For an on be alf of the Management Committee 41Page
Hindu Culttiral Associatioii (Wales) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HINDU CULTURAL ASSOCIATION IWALESI FOR THE YEAR ENDED 31 DECEMBER 2023 I report on the accounts of the Trust for the year ended 31 December 2023. whith are set out on pages 6 to11 Respective responslbllltles of trustees and examlner The charity's trnstees 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 FinancAal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference lo Ihe ArrA)unting 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 undersland that this has been done in order for the accijunts to provide a true and fair view in accordan with Ihe Generally Accepted Accounting Practice effeclive for reportin9 periods beginning on or after l January 2019. The charity's trustees consider that an audil is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and Ihal an independent examination is nooded. It is my responsibility lo.. examine the accounts under section 145 of the 2011 Acl: To follow the procedures laid down in the General Direclions given by the Charity Commissioner under seclion 145{5)Ib) of the 2011 Acl- and To stale whether particular matters have come to my attenuon. Conclu81ons relallng to golng ¢on¢ern In examining the charity's accounts, we h8ve concluded that the trustees, use of Ihe going nCern basis of accounting in the preparalion of the financial stalements is appropri81e. Based on the work we have performed. we have not Identified any material uncertainties relaling to events or conditions Ihat, Individually or collectively, may cast significant doubt on Charity's ability lo continue as a golng concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibililles and the responsibilities of the Trustee8 Wlth respect to going concem are described in the relevant sections of this reporL Basis of independont examiner'B report My examlnalion was carried out in accordance with Ihe General Directions given by the Charity Commissioner. An examination includès a review of Ihe accounting records kept by the charity and a comparison of the accounts presented with those records. 11 also includes consideration of any unusual ilems or disdosures In the accounts, and the seeking of explanations from you as Iwstees conceming any such matters. The procedures undertaken do not provide all the evidence thal would be required in 8n audit and. consequenlly no opinion is gtven as to whether Ihe a¢¢ounts presenl a 'lrue and fair view and the rewrt is limited to those malters s6t out in the statement below. Independent examiner's statement In connection wilh my examination, no maller has come to my altention-. . Which gives me reasonable cause to believe that, in any material respect, the requirements (a) To keep accounting records in accordance with sedion 130 of the 2011 Act.. and (b) To prepare accounts which acLord wlh the ac)unting records and to comply wth the accounting requirements of Ihe 2011 Act have not been met- or To whlch, in my opinion, attenlion should be drawn in order to enable a proper underslanding of the accounts to be reached. Mr R Slvapalan Sivapalan & Co Ltd Chartered Certified Accountants 168 City Road Cardlff CF24 3JE Date". [O/fo724
Hindu Culttii?l Association (Wales) Statement of Financial Activities for the year ended 31 Dember 2023. 2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds Note8 Donatitms Festivals. Functlon and Events Hall Hire & Spon$orshlp Income meMbehIp Fees Grant Gtft Aid l{e) 70,876 70,876 34,105 1,600 3,398 7,034 5.977 3.398 7,034 5.977 4,066 2,370 9,977 88,886 88,886 50,518 Investmeni Incomo Deposit Account Intèrést Olh8r Income Insurance recla¥n Interest Income 243 243 32 89.129 89.129 50,550 Ftsslival, Fundlon and Events Gro¢erie¥, Provrsion aTrJ Caleiing Costs 9.718 9.718 5,948 5.760 14.317 -20 2,371 2.974 12,933 10,833 870 901 1.330 567 679 1.234 6,780 14.317 -20 2,374 2,974 12.933 10,833 870 901 1,330 5,697 7,839 50 1,242 2,564 1.334 12.420 382 Wages and Nl Pensions Temple Expenses Rates and Water Repalrs and Renewals Light and Heal Travel & Subslstenee Alarm & Security In$uran¢e Telephone Piinllngs, Postage and Slallonery Website Expense8 Accountancy .Indepèndènl Examlnallon & Legal Cleaning and Refuse Collecllon Bank Chorge$ and Interest Depredalion on Fixed Asseis Depreclalion on Bullding 1,260 248 100 679 1,234 1.418 1.402 371 1.869 7,A61 1.418 1.402 371 1,869 7,461 3,803 1,456 249 2,492 7.461 Donatlon 5.350 5.3SO Total Expendllure on charltable actlvltles 82.338 82.338 55,145 Net Income 1 {éxp8ndlture) 6,791 6,791 (4.5951 Total Funds al 1 January 23 633.805 633.805 838,400 Total Fund8 at 31 December 23 640,596 640.596 633,805 All of the above results are derived from continuing activities. 61Page
Hindii Cultural Association (Wales) Income and Expenditure account for the year ended 31 December 2023 2023 2022 Notes Income Festivals, Funcllon and Events Donallons. Grant & Other Income Hall Hire & Sponsorship Income Mambershlp Fees Grants 70,876 1.600 3,398 7,034 5,977 243 34.105 4.066 2.370 9,977 32 Glft Aid Deposll Arcounl Inlarosl 89,129 50,550 Expgndlture DonalSon 5,350 9,718 5,700 14.317 {201 2,371 F88llval, Funcllon and Events Grocerlos, Provision and CaterirvJ C08ts Wagas and Nl P8n81on 5.948 5,697 7.839 50 T8mpla Expen8¢s Ralos and Water 1,242 2.564 1,334 12,420 382 2.974 12.933 10,833 870 Répairs and Ren6wal$ Llght and Heal Travel and sub9181ence Alarm & Security Insuranc8 901 1.330 1,260 248 Telephon8 Prinllng8, Postage and Siatlon¢ry Webslle Expenses Accountancy ,Indap•nd8nl Examlnallon & Legal Professlon81 Fees 679 100 1.234 600 1.418 1,402 371 3.803 1,456 249 Clegnlng and Refuse Colledlon Bank Charges and Inleie$l l)eprecl8llon 9,330 9,953 82,338 55.145 Net Surplu$ I IDefl¢ltl For the Year 6.791 (4,5951
Hindu Cultiiral Association (Wales) Statement of Assets and Liabilities as at 31 December 2023 2023 2022 Flxed assets Tangibles assets Investrnents 624,816 64.762 534.146 4,762 Current a88ets Debtors Cash al Bank and in hand 3,109 51,954 9,400 90.242 55,063 (4.045) 99.642 14,745) Creditor8: amovnls falllng due wllhln one year Net Current Assets 51,018 94.897 Total assets le88 Current Ilabllitle8 640,596 633.805 Net Assets 640,596 633,805 Fund8: Balance broughl forward Surplus IIDeficitl over expenditure 633.806 6,791 638,4 {4.5951 Total Fund9 640,596 633.80 Trustees, Declaratlon Those 8c¢ounls have been prepared in accordance wrlh Ihe accounting policies sel OLrt in notes to the accounts and comply with the charity's governing document. the Charities Act 2011, and Accounting and Reporting by Charites.. Slalement of Recommended Practi applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Repubh'c of lieland published on 16 July 2014 and nolos form part of these finanual stalemenls We approved these accounts and confim that we made av8i18ble all relevant records and infomalion for their preparation No members have required the charity to obtsin an audit of its accounts for the year in queslion The Management acknowledges their responsibilily for complying with the requirements of the act with respect to accounling records 8nd 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) (ollQ(?D?¥ io/iolzOL7 Date: nlosh Bhat reasurer)
Hindu Cultural Associatioii (Wales) Notes to the Financial Statements for the year ended 31 December 2023 11 Accounling policles (a) Basls of preparation The financial stslements have been prepared in accnrdance with Accounting and Reporting by Charilies: statement of Recommended Practic£ applicable to charities preparing their accoLsnts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019) - (Cha¢ilies SORP {FRS 102)), the FinancÈal Reporling Standard applicable in the UK and Republic of Ireland {FRS 102). Hindu Cultural Association (Wdes) meets the definiti of a public benefit entity under FRS 102. Assets and liabilities are initially recognized at historical cost or Iransaclion value unless otherwise sta18d in Ihe relevant accounting policy rKJte(s). {b) Incomlng resources Voluntary income induding donations and gifts are recognized in full in the statement of Financial acllvlty the financial year in which it is receivable. No amounts are included in the accounls for services donated by volunleers. {c) Resourcos expendéd All expenditure is accounted for on an accrual basis. and has been ¢las$ified under headings that aggregate 811 costs related to the category. Id) Fund accountlng Unrestricted General funds are funds which are available for use at the discretion of the trustees In furtherance of the general objectives of the tharity and which have not been designated for other purposes. Unreslricted De8lgnaled Funds are funds sel aside by the Injslees out of unrestrfcted general funds for specific future purpose or projects. Restricted Funds are funds that can only be used for particular restricted purposes with In the objecls of the charity. Reslridions arise when specified by the don, or when funds are raised for particular restricted purposes. These ndS amount lo £2 deposited in a separate Bank acLount. (e) Tangible fixed assels And depi'eciation Depreciation 1$ calculated lo write off cost or valu81ion, less estimated residual valu8, of th8 tangible fixed assets over their estimated useful fives. The annual depreciation rates and methods are as follow8 2023 2022 Land Buildlng Fixlures and equipment 50 years 150/0 ReducirvJ Balance 50 years 15QA RedL5cing Balance {n Taxation The charily is exempt from tax on Income gains falling Wlthin S478 of the Taxes Acl 2010 or S256 of the Taxalion of chargeable Gains Act 1992 to the exlenl that these are applied to ils charitable objects, No lax Charges have arisen in the charity
HTndu Cultiiral Associatioii (Wales) Notes lo the Financial Slatements for the year ended 31 December 2023 (Continued) 21 Tangible fixed assets Freehold Land and Bulldlngs Flxture and Fittings Total COST At 1 January 2023 Additions 573.076 149,218 722,294 573,076 149,218 722.294 DEPRECIATION At 1 January 2023 Charge for Year 46,407 7.461 141.741 1,869 188,148 9.330 53,868 143,610 197,478 NET BOOK VALUE At 31 Dernber 2023 At 310ecember 2022 3) Debto 2023 2022 HMRC-Gift Aid Due 3,109 9,400 3,109 9,400 4) Credltors.. amounts falllng due wlthln one year 2023 2022 Credltors Taxation and social security Accruals Wages Pension Other 595 888 (20) 2.582 1,584 895 26 2.240 4.045 4,745 IOIPage
Hindu Cultiiral Association (Wales) Notes to the Financial Statements for the year ended 31 December 2023{Conlinued) 5) Trustees, Expenses No disclosure lo make as no payment was made to the Trustees towards any expenses or seNices during the year-end 31 December 2023. 6> Analy818 of Funds A6atOl January 2023 Incoming Resources Resources Exponded Asat31 December 2023 Total unreslricled funds Tolal restricted funds 633,805 89,129 82.338 640,596 Total Funds 633,805 89.129 82,338 640,596 7} Net a$$etg between funds A8at01 January 2023 Increasel {De¢rea$el Total Assets {Inereèse)I Dccrease Net current Llabllltles Asat31 Decembèr 2023 General reserve Total Unrestrlcted lund$ 633,805 6.091 700 640,596 Re8trlcled fund8 Tot81 funds 633,805 6,091 700 640,5 8) Accountancy, Indépendent Examlnallon & Legal Fee 2023 1.418 2022 1,584 2.219 3,803 A¢¢ounlan¢y Fees Other Legal & Professional Service 1.418