REGISTERLD CHARJTY NUMBER: 1002799 Report of ¢ht Trustees and Unaudited Financial Statements for the Year Ellded 31 December 2023 for International Swaminaraya Satsang Organisation KBMD Limited Chartered Cenified Accounlanis Maple House 382 Kenton Road Harrow Middlc5ex HAJ 9DP
International Swaminarayan Satsang Organisation Contents of the Financial Statements for the year ended 31 December 2023 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements Detailed Statement of Financial Activities 12 to IJ
International Swaminarayan Satsang Organisation Report of the Trustees for the year ended 31 December 2023 The trustee5 present their report with the linancial statements of the charitv for the N'ear ended J l Dccember 2023. The trustees h&'e adopted the provisions ol. the s[emen1 of Recommended Praclice {SORPI FR5102 'Accounting and Reporting by Charities, efyective l January 2019. l.S.S.O. continued Éo provide Spiritual: Cultural and Educational services to Ihe community throughout its various temples and chapter5 in the U.K. In the UK ive are 51owlv recovering from the unforeseen cosl of living crisis wherebN' our income and resourccs h&ve continued to be affectcd. nevertheless. l.S.S.O. continued to serve (he local communil!. in alleviating the pain and suftering by providin? TitTin Service via the local temples to the sick. needy and elderly metnbers of the community- Our Strcatham Tcmple continued to support the local chariiies in the area bv proK'iding 'Saivik (sanctifiedl food" Our Gativick Tcmple continucd ivith the construclion ol Satt'ik Centre" ,hiCh is scheduled for compleiion by Vijaya Dashmi in 2024. In view ot thc prevailing restrictions haTr'ing been lifted our Temple premises are slowly recovering in terms of the devotees attending and conducting all the relieious festii.'als. On the administrative front. l.S.S.O coniinued to receiN'e eenerous suppory from ihe communits despite the prcvailing circuTnstances and have been able to maintain the upkeep of the temples in the besi possible manner and coniinue the dediLated religious services to thc residin? deities on a dail! basis la our local resident Pujari's Ipriestsl and visiting S&N'ami's (ordained pricstsl from Indi& Further to ihe sanciion ot-our Kent Chapter in ?0?? to look for suitable premises H'ithin Bromlew/Beile!,IOrpington area so as to enable them to set up a permancnt base ii'ithin their local caichment area rnther than operating from a hired premises basis so thc!. can proi."id¥ Spiritual. Cultural and Educational sern'ices 10 the communin. in a more suiiable cnvirontnent. l.S.S.O. has cotnpletcd on a purchase of a 2.) acre site durine ?024 of "Froopool Manor" in Chislehui'si. Kent. Ivith a purchase price of £J.i million i*hich has been financed b! l.S.S.O.. public donations and commercial loan from Natii'esl bank. along iN'iih inieresi free loans from Shree Sivaminarai'an Tetnple5 Willesden. Cardiff and Stanmore and personal interest free loans from fellow Satsangi's. -rhe "Bromle), Mandir" project is being managed bv our Keni Chapter in liaison with the l.S.S.O. Board of Directors under spiritual guidance bj His Holiness Achar¥'a Mahardjshri. We look fonvard to the continued support of the community SO that we can COTttinue our mi55ion on enhancing the spiritual values and physical wellbeing of our community throughout the UK. STRUCTURE, GOVERNANCE AIID MANAGEMENT Governillg doeutnent The charity is controlled by ils governing documenL a deed of irusi and constitutes an unincorporated charity. REFERENCE ALYD ADMINISTRATIVE DETAILS Registered Charity number 1002799 Principal addre55 Shrcc Sivdminara)'an Temple IlSSO} 72 Colmcr Road Strcatham London SW16iJ7. Page I
International Swaminarayan Satsang Organisation Report of the Trustees for the year ended 31 December 2023 Trustees 14 11 ALharva Maharajshri. Ahmedabad. India Ichairnian) Ashokbhai Naran Paiel Dipakbhai Manubhai Va]and Yogesh Paiel Amai'shi Goel Jitendrn Patel Survakanl Patel Prakash Kanji Jivraj Tank Umesh Patel Naihalal Chohan Narendra Patel E larshad Paiel Nalin Patel Virji Rupani Independent Exavniner BI IAVESI I BI IUDIA. BSC. FCCA. CTA. ARA KBMD Limilcd Chartcrcd C"crtified Accountants Maplc Housc 382 KLnton Road Harroib. Middlese HAJ 9DP Approved b}. order of the board of irustees on . and signcd on its behalt by: Trust Pa2e 2
Independent Examiner's Report to the Trustees of International Swaminarayan Satsang Organisation Independent exxminer's report to the trustees of International Swaniinarayan Satsang Organi5ation I report lo ihe charit). Irusieeq on m J eNaminaiion of (he aicounts ol Inicrnaiional Sii'aniinara) an Satsdng Organisation (the Trust) for the l'ear ended ) l December 202J. Responsibilities and basis of report As the charil) trustees of the 'l'rusi ¥'ou are responsible for the preparation of the accounts in accordance M.'ith the requirements of ihe Charities Act 2011 {'Ihe Act.). I rcport in respect of mv examination of ihe Trusi's accounts carried oul under Scction 14) of the Acl and in Ca'ing out tny examination I have follow.ed all applicable Direciions given by the Charity. Commission under Section 145(i}(b) of the Act. Independent examiner'5 Statement Sincc }'our chari s gross incomc cxcceded £2iO.(K)O your examiner tnust be a tnember of a listed bodv. I can confirni that l am qualificd to undcrtake the examination because l am a member of the Association of Chartered Certified Accountants, which 15 onc of thc listed bodics. I have completed m!, examination. I conlimi that no material matters haFe come to mv attention in connection ¥Nith the examination giving mc cause to bclieve thai in an!, maierial rcspect= counting records wcre not kept in respect of the Trusi as rcquired b!. Section 130 of the Act- or thc acLounts do not accord w'ith those record5= or the account5 do not compl). 'ith the applicable requiremcnts concernine the forni and content of accounts set out in the Charities (Accounts and Report5) Regulations 2008 other than anN' rcquiretnent that the accounts gIe a true and fair view w'hich is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in conneciion wilh ihe eiaminaiion io h7¢h attention should be draiN'n in this report in order io enable a proper undersianding of ihe accounts to be reached. BHAVFSH BHUDIA, BSC. FCCA. CTA, ARA KBMD Limited Chartered Certified Accountants Maple House J82 Kenton Road Harrow. Middlesex HA3 9DP Date.. 07
International Swaminarayan Satsang Organisation Statement of Financial Activities for tbe year ended 31 December 2023 31.12.23 Unrestricted fund Jl.12.22 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 347J99 400.214 Investment income 22011 18,7iO Total 370,210 418,964 EXPEINDITURE ON Raising funds 282578 328.i79 Charitable Activities Support costs (6281 Total 281,9$0 )28.579 NET INCOME &8.260 RECONCILIATION OF FUNDS "I'oial tund£ brought toni ard 2,i56J52 2.466.467 TOTAL FUNDS CARRIED FORWARD 2,645,112 2,ii6,8i2 The note5 fortn part ofthese financial siaiemenis Paee 4
International Swaminarayan Satsang Organisation Balance Sheet 31 December 2023 31.12.23 Unrestricted fund Jl.12.22 Total funds Noles FIXED ASSETS Tangible assets 2.287,195 2.225,461 CURRENT ASSETS Debtors Cash at bank and in hand 378.783 882,160 118.476 ii8.022 1,260,943 676,498 CREDITORS Amounis tallin2 due '1th]n one year (2571) 12.9141 NET CURRENT ASSETS 1,258J72 67).i84 TOTAL ASSETS LESS CURRENT LIABILITIES 3.545.567 2.899.04i CREDITORS Amounts falling due afier more ihan one Near {900.4551 134? 19Jl NET ASSETS 2,645.112 2.ii6.8i2 FUNDS Unrestricted funds 12 2.645.112 2.556.852 TOTAL FUNDS 2.645,112 2.jj6.8 j? The financial statements were approved by the Board of Trustees and authorised for issue and were signed on its behalf by= on Trustee The noies fomi part of these financial statements Page i
International Swaminarayan Satsang Organisation Notes to the Financial Statements for the year ended 31 December 2023 ACCOUNTING POLICIES Basis of preparing the financial stAtements -I'he financial statements ot. the charit!.. ii'hich is a public benefit entitr under FRS 102. hawe been prepared in accordance iiith the Charities £ORP IFRS 102) 'Accountine and Reportine b!. Charities.. Statemcni of Recommended Practice applicable io charities preparin2 their accounts in accoi'dance i¥ith the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (etTective l January 20191,, rinancial Reporting Standard 102 The Financial Reporting standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial stalements have been prepared under the historical cost conw'ention, as modified b). the re.aluatIOn of certain assets. Income All income is recognised in Ihe Sraiement of Financial Ac[itIleS once the charitill has entitlement to the funds. it is probable that thc income i¥'ill be receii'ed and ihe amouni can be measured reliabli,. Expenditure LiabilitiLS dre recognised as expenditure as soon as there is a leeal or constructive oblioation committing the charl. to that expenditure. it is probable ihai a transfer of economic benefits .111 be required in settlement and the amount ol- the obligation can be measured reliabll. E.xpendiiure is accounted for on an accruals basis and has been classified under headings ihai aggregaie all cosi relaied lo the cateeoTr. W'here costs cannot be directl!, attributed to particular headines the!. hai'e been allocaied to actii.'ities on a basis consistent 14.'ith thc usc of resources. Tangible filed assets Depreciation is prLli'ided ai ihe folloiking annual raies in order to write off each asset over its estimated usetul life. Freehold property Plant and machinery Fixtures and fittings 20/0 on cost l jO/o on reducin2 balance l jO/o on reducin2 balance TAxAtio The charity is exempt from t&x on its charitable activities. Fund accounting Unrestricted funds can be used in accordance i¥ith ihe charilable objectives at the discretion of the trustees. Restricted funds cm onlv k used for panicular resiricted purposes within ihe objects of the charitv. Restrictions arise when specified by ihe donor or when funds are rdised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial swements. Paee 6 continued...
International Swaminarayan Satsang Organisation Notes to the Financial Statements- continued for the year ended 31 December 2023 INVESTMENT INCOME 31.12.23 31.12.22 Rents received Deposit CoUnt interest 18,750 4,061 18.750 22,811 18,750 RAISING FUNDS Raising donAtions and legacies 31.12.23 Jl.12.22 Depreciation Support costs 53.924 228,6$4 il.971 276.608 282,578 J28.i79 TRUSTEES, REMUNERATION AND BENEFITS There vN'cre no irusiees. remuneration or other benefits for Èhe ! ear ended J l Deceinber 2023 nor for the year ended i l DeLember 2022. Trustee5' expense5 There were no Irusiees, expenses paid for ihe l'ear ended )1 December 2023 nor for the year ended 31 December 2022. COMPA114TIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND EINDOWMENTS FROM Donations and Icgacies 400.214 Investment income 18,7iO Total 418.964 EXPENDITURE ON Raising funds 328.i79 NET INCOME 90.38) RECONCILIATION OF FUNDS Total tunds brought lon¥ard 2.466.467 Pe7 continued...
International Swaminarayan Satsang Organisation Notes to the Financial Statements- continued for the year ended 31 December 2023 COMPAIi4TIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrestricied fund TOTAL FUNDS CARRIED FORWARD 2.5i6.8i2 TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Plant and machineri, Totals COST At l Janu, 202J Additions 2.478,72.S 115.659 34,897 74,944 2,588566 l.i,659 At )1 December 2023 2,594J84 34897 74.944 2,704225 DEPRECIATION i l Januar¥. 202) Ch<wge for J'ear 266.843 il,888 34.761 21 61501 2.016 363,105 53,925 At 31 Decembcr 202J 318,731 34,782 63517 417,030 NET BOOK VALUE At J l December 202J 2.275.653 1,427 2,287,19S At 31 DeceJnber 2022 2.211.882 2.22i.461 The treehold propcrties ivere re"alUed by ihe Twsiees on J111212011 at £2.1 iO.O(K). DEBTORS 31.12.23 31.12.22 Amounts falling due within one )'ear= Loan - S'eden Temple Prcp&ytnents 56,832 830 830 57,662 i7,662 Amounts falling due after tnore than one Year: Other debtors 321,121 60.814 Aggregate amounls 378.783 118.476 Pa2e 8 continued...
International Swaminarayan Satsang Organisation Notes to the Financial Statements - continued for the year ended 31 December 2023 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Trade creditors Social Securi and other t&xes Other crediiors Accrued expenses 819 1.752 819 1.7iO 2571 2.914 CREDJTORS: AMOUNTS FALLING DLIE AFTER MORE THAN ONE YEAR 31.12.23 )1.12.22 Bank loans (see note l O) Other loans {see noie l O) Other credilors'.l.oan-Salsan2i Other crL"ditors.'Loan-Saisangi Frogpool 121.953 13J.691 iO.000 l i8.)02 103502 62.5,000 900,455 J42.19J io. LOANS An analysis of the maturits. of loans is gii'en beloN-. 31.12.23 Jl.12.22 Amounts falling due beli%'een two and five vears: Bank loans - 2-5 Jears Loan - Leicester Temple 121,953 50,000 l)J.691 iO,000 171.953 18J.691 SECURED DEBTS The following secured debts are included within creditor5= 31.12.23 31.12.22 Bank loans 121,953 lJ),691 The bank loan has been secured bv a Firsi Charge on the freehold property at Crawley Temple. Page 9 continued...
International Swaminarayan Satsang Organisation Notes to the Financial Statements- continued for the year ended 31 December 2023 12. MOVENIENT IN FUNDS Nct mokemenl in funds At )1.12.2J At l.1.2J Unrestricted funds General fund 2,556,852 88260 2.645.112 TOTAL FUNDS 2 556.852 88260 2,645.112 Net moveTnent in funds. included in the above are as follows= Incoming resourccs Resources expended MoNement in tunds Unrestricted funds General fund 370210 (281,9501 88260 TOTAL FUNDS 370,210 (281,9501 &8260 Comparatives for movement in funds Net movement in ndS At 31.1? 22 Al 1.1.22 Unrestricted funds General lund 2.466.467 2.ii6.8i2 TOTAL FUNDS 2.466.467 2,i56,8i2 Comparative nei movement in funds included in the above are as follows: Incoming reSoue5 Resources expended Movement in fund5 Unrestricted funds Gentral fund 418.964 1328.i79) TOTAL FUNDS 418.964 li?8. j79) Page 10 continued...
International Swaminarayan Satsang Oroanisation Notes to the Financial Statements- continued for the year ended 31 Decem ber 2023 12. MOVEIWIEI¥4T IN FUNDS- eontinued A current year 12 months and prior year 12 months combined position is as follows: Nei movement in funds At Jl.12.2) At 1.1.22 Unrestrieted funds General fund 2.466.467 178.645 2,64). 112 TOTAL FUNDS 2.466.467 178.64) 2.64). 112 A current l'ear 12 months and prior )'ear 12 monihs combined nei movemeni in funds. included in the above ait as folloii's: Incotning resources Resources expended MoiJeTneni in lunds Unrestricted funds General lund 789.174 (61 O.)291 178.64) TOTAL FUNDS 789.174 161 O.)?91 178.64) 13. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 Decetnber 202). Pagell
International Swaminarayan Satsang Organisation Detailed Statenlent of Financial Activities for the year ended 31 December 2023 )1.12.2J Jl.12.22 INCOME AND ENDOWMEIYTS Donations and legaeies Donaiions Gift aid 283,720 63,679 281.467 118.747 347J99 400.214 Investment income Rents received Deposit account inieresl 18.7iO 4.061 22Jll 18.7iO Toknl incoming resources 370210 418.964 EXPENDITURE RAising donAtions And legacies Freehold propeth. Plani and machiner¥ Fixlurcs and littings 51888 20 2,016 49.i7i ?4 53.924 il.971 Support costs ManAgement Raies and ivater Insurance Lighi and heal Telcphone Postage and stationery Advertising Pujaree and other expenses Donations Accountancy Repairs and renewals Travelling Food proN'isions Cleaning Professional fees I'r Cost Tree planting 8,908 6,290 16J72 1.476 1,697 4.815 34224 64292 1,752 24585 39.172 10280 2,380 558 10.091 i.921 21.186 1.479 16,508 5,058 40.6iO 98.8il 1,7iO 31,987 20.015 1.887 i60 216,801 26i.313 This page does noi forni part ofihe sl10rV financial statements Page 12
International Swaminarayan Satsang Organisation Detailed Statement of Financial Actii'ities for the year ended 31 December 2023 31.12.?3 31.12.22 Management FinAnee Bank chargcs and interest Bank loan interest .409 9,816 1.295 10.000 11.225 11,295 Total resources expended 281,950 328.579 Net income 88260 90.38) This page doe5 not tortn part of the ststuton. financial 5tstcments