Hindu Cultural Association (Wales) (Registered Charity no: 1002569) Independent Examiner Report and Financial Statements Year ended: 31 December 2024
Contents Legal and administrative information Report of the Trustees Report of the Independent Examiner Statement of Financial Activities Summary income and expenditure account Charity balance sheet Notes forming part of the financial statements 9-11
Hindu Cultural Association (Wales) Legal and administrative information during the year ended 31 December 2024 Current Executive Committee: (from 281h September 2024 Chair Mrs. Vernha Sood lJtahindra Vlce Chairperson Mrs.Sarita Pawar Secretary PAr.Seshakiran Chemudlpatl Deputy S8crètary Mrs.Kanya Kumarl Podlla Treasurer Mr.Harl Ganesh Samayamanthula Deputy Treasurer Sunalna Purt)•y Previous Executlve Commlltee{2024) Chairperson Vice Chair Secretary Deputy Secretary Treasurer Deputy Treasurer Mrs Niru Kumar Mrs Versha Sood Mahindra Mr Suresh Arava Mr Seshakiran Chemudipali Mr Sanlosh Bhat Dr Amit Chandratreya Registered Offlce: Indla Centre Sanquhar Street Cardiff CF24 2AA Independent Examlners: Slvapalan & Co 168 Clty Road Cardiff. CF24 3JE Bankers: Lloyds TSB Bank PLC 514 Cowbridge Road East Victoria Park Cardiff CF5 1BL
Hindu Cultural Association (Wales) Annual Report of the Managemenl Committee forthe Year to 31 December 2024 Hindu Cultural Association (Wales) is registered wth the Charity Commission and has charitable status for taxation purposes. Structure overnance and mana emenl The Governance document of Hindu Cultural AssocTration (Wales) is its Constitution and it is an unincorporated association. Board of Trustees: The Charlty Is admlnlgtered by an axecutlve commlttee, comprlslng: Chairperson Vice Chairperson Secretary Deputy Seuètary Treasurer Deputy Treasurer Mrs. Versha Sood Mahindra Mrs.Sarlta Pawar Mr.Seshakiran Chemudipatl Mrs.Kanya Kumarl Podlla Mr.HarS Ganesh Samayamanthula Mrs.Sunaina Purbey Current Tru8taas as at 31 Doc 2024 Mr.Prabhat Kumar Dr.Poonam Singhal Dr. Ravi Tiwari Dr. Chandrahas Roy Mrs. Sunaina Purbéy olntment of Tru8tee8 The governors have been installed since the fomiation of the board of govamors 8nd are familiar wlh the aims and objectives of the Community. The Hindu Cultur81 Association's Policy for the appointment of new governor trustees is nonnally by means of bi-annual eleetions. All custodian trustees are appointed by the B08rd of Governors. Or anlxatlonal Structure The Executive Committee currently consists of nine executive officers. President and two vice presidents who, along with the Board of Governors {24), meet regulafly to discuss and review the financial position. the fund raising strategy and all other charity matters. with all major decisions being made at these mèetings. Day lo day minor matters is delegated lo the staff and volunleers. Ob'e¢t8 and Actlvities The Charity's objects are supported by the tharity's SO activity. The Objectives of Ihe charity is to advance the understanding and awareness of Hindu religion and advance education, relieve povety, distress and sickness amongst the Hindu community reSents in Wales. The Charity depends upon the continuing help of volunteer's P8rticulafly young people. Achlevements and Perfomiancè The Hindu Cultural Association Iwalesl is keen to offer a range of seFvices during the week and over the course of the year thal 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 conlinuirvJ aim is to increase the incoming resources in order to provide serViS in line )Mth its conslilution. As a future plan, the Hindu Cultural Association (Wales) is committed to continuing the charity's aim and objectives. We are all consaous that the present premises are too small bul have exciting plans lo extend the property al the rear. in order that the actiwlies at the Centre can be further expanded.
Hindu Cultuiil Association (Wales) During the Covid-19 pandemic, the management committee was greatly committed to helping society at large. The management committee is priwleged 2nd feels honored that the Hindu Cultural Association (Wales) was granted permission and permitted to organize a Covid-19 Vaccination sile at the charity premises for the public. Internal Control and Rlsk Mana ement. The Iruslees have the responsibility for ensuring that the charity has in place an appropriate system of controls, financial and olhemise, to provide reasonable assurance that the charity is operating efficiently and effectively. ils assets are safeguarded against unaulhorized use or disposilion, Ihat proper records are maintained and financial infomialion used thin the charity or for publication is reliable and the charily 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 e$lablished to enable the produclion of regular reports in all financial and operation81 areas wtll effedively miligale these risks. Public Benefit Statement In furtherance of the objects'ves of the Centre. the Trustees of the Hindu Cultural Association IW8lesl have complied wilh the duty in S17 of the Charilies Act 2011 to have due regard to the Charity Commission's published general and sub-seclor guidance concerning the operation of the Public Benefit requirement under the Act. Flnanclal r8vlew The slate of the ChaTili8s affaiTS at 31st December 2024 and the results of its operations for the year ended on that dale are sel out in the attached financial statements. Total receipls on unffjslrieted funds have increased by £ 14.282 in the year and amounted to £103.411 compared lo £89,129 last year. In the penod ended 31 December 2024. the charity received a sum of £ 30,394 as a donation from HM Revenue and Customs towards Gift Aid. The Charity made a surplus of £ 22.43912023.. surplus 6,7891 after the depreciation of Tangible assets. Further analysis shows that during the current year, the Charity has m8de a Profil of £ 35,489(2023.' profil £16,119) before the depreciation of Tangible assets. The Charity reported liabilities of £910 12023.. £ 16,119) in the balance sheet. The Charity's reserves as of 31 December 24 stood al £ 663.03512023.'£ 640,596) The activities of the charity have continued lo highlight awareness of the charity and its work wlh th8 local community. The Trustees aCknOedge 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 conslanl review, as the charity ntInueS to make an effort to minimize running costs of the premises. Reserv88 Pollc As at 31 Ih December 2024 free reseryes amounts lo £663.035 (2023: £640,595). Our policy on reseNes is to ensure that we have sufficient funds available to meet our commilmenls and the Executive Committee will consider designating reserves for specific purposes v4here it is considered to be necessary in the future. Volunteers The Iruslees are also extremely grateful to all volunteers give up their free lime to help further the aims of the charity.
E4indu Cultural Association (Wales) Statement of Management ¢ommlttee's Responslbllitles The accounts have been prepared in accordance wtlh the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 2nd the Financial Reporting Standard applicable in Ihe United Kingdom and Republic of Ireland IFRS 1021 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 lo the exlenl required to provide a 'lrue and fair view.. This departure has involved Accounting and Reporting by Charities preparing their accounts in accordan wlh 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 effects've from 01 April 2005 which has since been withdrawn. Charity Law requires the managemént cnmmillee 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 stale of affairs of the chanly and of ils financial activities for that period which properfy presenl the chartly's income and expenditure for the year together with ils assets and liabilities at the end of the year and adequately distinguish any material special trust or other restricted fund of the charity. In prep8ring those financial ststemenls the management committee 1$ requires to'.- a) Select Suitable policies and then arply them consislenlly.. bl Make judgments and estimates that are reasonable and prudent- ) Stat8 whether the policies adopted are in accordan wilh the approprigte SORP on Accounting by charities and the Accounting Regulations and with applicable accounting Standards. Subject to any material departures disdosed and explained in th8 financial statements The management committee is responsible for keeping proper accounting records which disclose with reasonable a¢¢uracy at any lime, the financial position of the charity, and lo enable them to ensure that the financial statements comply wth regulations stipulated in the Charits'es Act 2011.They are also responsible for saf69uarding the assets of the charity and hance for taking r8asonabl8 sl8ps for the privation and detection of fraud or other irregularities. In preparing the financial slatemenls, the trustees are responsible for assessing the company's ability lo continue as a going concern, disclosing. as applicable. matters related to going concem and using the going concern basis of accounting unless the trustees either intend to liquidale the charity or to cease operations, or hav8 no realistic allernative but to do so. Statement as to D18clo$urè of Informatlon to Independent Examlner8 So far as th8 management cMIltee is aware. there is no relevant infomiation of which the charity's Independent r8viewers are unaware and each Trustee has taken steps Ihal he ought lo have taken as a Truslee in order to make himself aware of any relevant infomiation and to estsblish that the charity's Independent examiners are aware of that infoimalion. A resolution proposing that Sivapalan & Co be re-appointed as Independenl examiner of the charity will be pul to the Annual General Meeting. Mrs Ve ood Mahindra (ChaifpeTson) Daled- For an on behalf of the Management Committee 41Page
Hindu cUlra1 Association (Wales) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HINDU CULTURAL ASSOCIATION (WALES) FOR THE YEAR ENDED 31 DECEMBER 2024 I report on the accounts of the Trust for Ihe year ended 310ecember 2024, which are set out on pages 6 to 11 Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparath)n of the accounts (financial Stalementl in accordance with the Slalemenl of Recommended Practice= Accounting and Reporting by Charitie5 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.. St8lemenl of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations bul has been withdraw. We understand that this has been done in order for the accounts lo provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019. The charity's Iruslees consider that an audit is not required for this year under section 144{2) of the Charities Act 2011 (the 2011 Act) and Ihal an independent examination is needed. 11 is my responsibility to= examine the accounts under section 145 of the 2011 Act: To follow the procedure5 laid down in the General Directions given by the Charity Commissioner under section 145(5)(b) of the 2011 Act; and To state whether parlicular matters have come lo my allenti¢)n. Concluslons relating to going concern In examining the charily's accounts, we have concluded that the trustees, use of the going concern basi8 of accounting in the preparation of the financial slalemenls is appropriate. Based on the work we have performed, we have nol identified any malerial uncertainties relating to evenls or conditions that, individually or collectively, may cast significant doubl on Charity's ability lo continue as a going concern for period of al least twelve months from when the financial statements are authorised for issue. Our responsibililies and the responsibilities of the Trustees with respect lo going concern are described in the relevant seclions of this report. Basls of Independent examiner'8 rèport My examination was carried out in accordan with the General Oireclions given by the Charlty Commissioner. An examination includes a review of the accounling records kepl by the charity and a comparison of Ihe accounts presented with those records. 11 also includes consideration of any unusual items or disclosures in the accounts. and the seeking of explanations from you as Iruslees concerning any such mallers. The procedures undertaken do not provide all the evidence Ihal would be required in an audit and. consequently no opinion is given as lo whether the accounls present a 'true and fair view, and the report is limited lo those mallers sel out in the statement below. Independent exarnlner's statement In connection wilh my examination, no matter has come to my atlenlion.. Which gives me reasonable cause lo 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 lo comply wilh the accounting requiremenls 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 Ihe accounts to be reached. Mr R Sivapalan Sivapalan & Co Ltd 168 City Road Cardiff CF24 3JE Date: l/)o/LS
Hiiidu Culthi'al Association (Wales) Statement of Financial Activities for the year ended 31 December 2024. 2024 2023 Unrestricted Funds Rèstrlctod Funds Total Funds Total Funds Notes Donalions Fesllvals, Functlon and Events Hall Hire & Sponsorship Income Membershlp Fees Grant Gift Ald 1{e) 51,(WJ6 51,006 70,876 13.231 4,266 1.250 30.394 13,231 4.266 1.250 30,394 1.800 3.398 7.034 5.977 1(M),148 100.148 88.886 Invejlmonl Income Deposit Account Intefest Other Income Insurance fed81m Interest Income 3263 3263 243 103,411 103.411 89.129 Fe5lival, Funcllon ond Evenls Groceries. Proyi5ion and Catering Co818 11,684 11,684 9,718 8.471 12.399 8.471 12,399 5,760 14,317 -20 2,371 2,974 12,933 10,833 870 901 1,330 567 679 1.234 Wages and Nl Penslons Temple Expenses Rates and Water Repairs and Renewals Llghl and Heal Travel & S4Jbsislence Alarm & Securily Insurance Telepho Prlnlings. Postage and Slationery Webslle Expenseg Accounlancy,Independenl Examination & Legal Cle8nlng and Refuse Collectlon 3.821 3.079 7.193 7.354 710 1662 1,679 3,821 3,079 7,193 7,354 710 1662 1,679 690 330 330 6.079 1,737 6,079 1.737 1.418 1.402 Bank Charges and Interest Deprecialion on Flxed Assets Deprecialion on BLTrlkiling 855 5,589 7,461 371 1,869 7,461 5,589 7.461 Donallon 379 379 5,350 Total Expendltura on charltal)le actlvltlas 80.972 80.972 82,338 Ngt Incomo 1 {exp•ndltural 22.439 22.439 6.791 Total Funds at 1 January 24 640.596 640,696 633,805 Total Funds at 31 Decembèr 24 663,035 640,59S All of the above results are derived from continuing activities. 61Puge
Hindu Cultural Association (Wales) Income and Expenditure account for the year ended 31 December 2024 2024 2023 Notes Income Festivals, Funcllon and EkEnts Oonallons, Granl & Other Income Hall Hire & Sponsorshlp Income Membership Fees Grants 51.OD7 13.231 4.266 1.250 30,394 1263 70,876 1.600 3,398 7,034 5.977 243 Glft Ald Depo811 Accounl Inleresl 103,411 89.129 Exp8ndltura Donallon 379 11,684 8,471 12.914 {5151 3,821 6,350 9.718 5.760 14.317 Festival, Functlon and Events Grocefles, Prwslon and Calerlng Costs Wages and Nl Penslon {20) 2.371 2.974 12,933 10,833 Temple Expen8e8 Rates and Water Rep8lrs 8nd Renewals Llghl and Heal Travel and subslstence 3.079 7,193 7.354 710 870 901 Alami & Securlly Insurance 1,662 1,679 890 1,330 567 Telephone Prinllngs. Postage and Sl*tlonery Webslle Expenses Accountancy ,Independenl Examinallon & Leg81 Piofesslon81 Fees 879 1,234 330 6,079 1.416 Cleanlng and Reftjse Colleellon Bank Charges and Interest Depreclallon 1,737 656 1,402 371 13,050 9.330 80.972 82,338 Nèl Surplus I IDèfl¢lt) For lh8 Year 22.439 6.791 71Page
Hiiidu Cultural Association (Wales) statement of Assets and Liabilities as at 31 December 2024 2024 2023 Not•s Flxed assets Tangibles assets Investments S28.519 94,762 524,816 64,762 Current assots Debtors Cash at Bank and in hand 4,506 36.747 3,109 51.954 41,253 {1.4991 55.063 14.0451 Credllors.. èmounts lalllng due wlthin year Net Current Assets 39.754 51,018 Total a88ets les8 Current Ilabllltles 663,035 840.598 Nèt A888ts 663,03fj 840.596 Fund8: Balance broughl lorvmrd Surplus 1{Deficlll over expendbture 640.596 22.439 633,805 6,791 Total Funds 663.035 640,596 Trustees, Declaratlon These accounts have been prepared in accnrdance wth the accounting policies sel out in notes lo the accounts and comply wth the charity's governing document, Ihe Charities Act 2011, and Accounting and Reporting by Charites.. Statement of Recommended Practi applicable to charits'es preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland published on 16 July 2014 and notes form part ol these financial slatements We approved these accounts and confirm that VK made available all relevant records and infomialion 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 responsibilily for cc*nplying 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 apICable to companiès subject to the small companies regime Date: ersha Sood Mahindra (Chairperson) 3)110 Mr.Hari Ganesh Samayaman (Treasurer) ula 81Page
Hindu Cultural Association (Wales) Notes to the Financial Statements for the year ended 31 December 2024 Accountlng policies {al Basls of preparallon The financial statements have been prepared in accordan with Accounts'ng and Reporting by Chafilies.. Statement of Recommended Practi applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 20191- (Charities SORP {FRS 102)), the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 1021. Hindu Cultural Association Wales) meets the definilion ol a public benefit enlily under FRS 102. Assets and liabilities are initially recognized at historical cost or transaction value unless otherwse stated in the relevant accounting policy nole(s). (bl Incomlng resources Voluntary income including donations and gifts are recognized in full in the statemant of Financial activity in the financial year in bthich il is receivable. No amounts are included in Ihe accounts for seNices donated by volunteers. (c) Resources •xpondod All expenditure is accounted for on an accrual basis, and has been ctassified under headings that aggregate all costs related lo the category. (dl Fund a¢¢ountlng Unrestricted General funds are funds which are available for use al Ihe discr81ion of the Iruslees in furtherance of the general objects'ves of the charity and which have not been designated for other purposes. Unrestricted Designated Funds are funds set asldé by the InJsl8es out of unr6slricled general funds for specific lulure purpose or projects. Restricted Funds are fvnds that Can only be used for particular reslricled purpose5 Wth in the objects of the ¢harity. Reslriclions arise when specified by the donor, or when funds are raised for particular reslricled purpos8s. These funds amount to £2 fjeposiled in a separate Bank awunl. (e) Tangible fixed assets and depi'ecialion Depreciation is calculated to write off cost or valuation, less eslimaled residual value, of the tangible fixed 8ssels over their estimated usèful Ilb*s. The annual deprecialion rates and methods are as follows 2024 2023 Land Building Fixtures and equipment 50 years 15% Reducing Balance 50 years 15% Reducing Balance (f) Taxatlon 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 charily
Hindu Cultural Association (Wales) Notes to the Financial Slatements for the year ended 31 DecAnber 2024 (Continued) 21 Tangible fixed assets Freehold Land and Buildings Flxthre and Flttlngs Total COST At 1 January 2024 Additions 573.076 149.218 16.753 722,294 16.753 573,076 165,971 739,047 DEPRECIATION Al 1 January 2024 Charge for Year 53,868 7,461 143.610 5.589 197,478 13.050 61,329 149,199 210,528 NET BOOK VALUE At 31 December 2024 At 31 December 2023 3) Inve8tments 2024 £4,762 £90,000 2023 £4,762 £60,000 Investments Fixed Deposits £94,762 £64,762 41 Debtorn 2024 2023 HMRC-Gift Aid Due 4,506 3,109 4,506 3,109 5) Credltor8: amounts falllng due wlthln one year 2024 2023 Creditors Taxation and social security Accruals Wages Pension Other 595 888 {20) 2,582 1.499 1,499 4,045
Hiiidu Cultural Association (Wales) Notes to the Financial Slalements for the year ended 31 December 2023(Conlinued) 61 Trustees, Expenses No disclosure to make as no payment was made to the Trustees towards any expenses or services during the year*nd 31 December 2024. 7) Analysls of Fund8 Asat01 January 2024 Incomlng Resources Resources Expended Asa131 December 2024 Total unrestricted funds Total restncted funds 640.5 103,411 80,972 663,035 Total Funds 640,5 103,411 80.972 663,035 8) Net a880ts between fund8 Asat01 January 2024 Increasal (Decrease) Total A88et8 (In¢r6ase)I Decreaso Net Current Llabllltles A8at31 Dècember 2024 General r88èf4è Total Unre8trl¢ted funds 640,596 19.892 2.547 663,035 Rostrlctod funds Total fund8 640,596 19.892 2,547 663,035 9) Accountancy, Independont Examlnatlon & Legal Fee 2024 1,440 4,639 6,079 2023 1.418 Accountancy Fees Other Legal & Professional Sernice 1,418