Charlty reglstration number 1045242 HINDU TEMPLE AND CULTURAL TRUST CENTRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
HINDU TEMPLEAND CULTURAL TRUST CENTRE LEGALAND ADMINISTRATIVE INFORMATION Board IX Trustse8 Mr Prem Sondhi MrPKKad Mr R Nahra MrA Ghal Mr R K Tangrl MrA Jindle Mrs N Mehta Mrs R K Ghal Mr S P Sondhl Mr8SBKad MrSLDhlr Mr8 H L Sood Mr8 Sharan Sachdeva Charlty numb•r 1045242 Prfnclpal •ddr••• 80 Nevllle Close Hounslow Middlesex TW34JG Independont gxamlngr KLSA LLP Kalamu Hou8e 11 Coldbath Square London EC1R 5HL Bankorn Bank of Barod8 Nallon81 W88tminst8r 88nk PIC Barclays Bank PIC
HINDU TEMPLE AND CULTURAL TRUST CENTRE CONTENTS Page Trustee report Indapendent examlnerfs report Statefflent of financlal actlvltl88 Balance 8heet Notes to the accoun18 7-13
HINDU TEMPLE AND CULTURAL TRUST CENTRE TRUSTEE REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Board of Twstee8 present thelr report and Ind8pendently examined accounts for the year ended 31 March 2024. The accounts have been prepared in accordance wlth accountlng pollcl8s set out in note to the accounts and comply wtth the Hindu temple's goveming document, the Charities Acl 2011 and "Accounting and Reporting by Charitles.. Statement of Recommended Practice applicab18 to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102)" (a8 amended for the accounting p8riods commencing from 1 January 2016). ObJ•ctlve8 and actlvltl•i The centre wa8 88tabll8hed to advance the Hlndu Rellglon and to advance educ8tlon in accordance wlth the tenets and doctrlne8 of Hindulsm through, but not 8xcluslv8ly, by the provl8lon of a Temple & Cuhural TruBt Centro. The core objectives and value8 of the Charlty Still remain the 8am8. Th• maln obJecllv•• of th• c•ntr• ramaln a• follow• . To conduct and promote r88earch In Ilterary, 8clentMc, soclal, cultural and rellglous actlvltl8s of the Hindu rellglon, thereby advancing the provision of advice, counselllng and instrudion r8lating to the spiritual herftage of Hlndul8m and It8 CU8tom8 & tradltion8. To advance th8 educallon of the publlc by Improvemant and dlffu81on of knowledge and Informatlon about all 88pect8 of Hlndu18m. To promote Ihe benefits of the Hlndu Soclety to the n8lghbourhood, wlthout di8tlndlon of Sex, 8exual orl8ntatlon, race or of polltical, rellglous or other oplnlons. To e8tabllsh, or secure the e8tab118hment of a community Centre and malntaln and manage th18 8L4tab118hment In furtherance of the above obje¢tive8. To remaln non-p8ty In polltlcs and non-8ectarian In raliglon. The Board of Trustees havo paid due regard to guidance188ued by the Charity Commlsslon In decldlng what activlties the Hindu Temple 8hould undertake. The annual roport 8ddres8e8 matter8 in the same order as the Charltles SORP (FRS 102). Tha charily 18 registered In England and Wgles and so raferenca is mada to the Charity Commission's publlc beneflt guldance In shaplng ihe Trust's alms and objectlve8, The work of the tru8t66s and management commlltee has boen endorsed showing complete trust and confldenca in their abilty to meet the charities objective and its welfare. Esteemed members of our society, such as the old and elderly people, continue to receive our respect and every efft)rt is made to listen to their valuable advice. Every facllity and assistance of the temple is offered to them, The Communty members have shown th8ir full trust and confidence In our General Governing body, whlch mains resolute. Suggestions and construcllve plans are always welcome for the improvement of our ntr8 and we review this on regular basis bearing in mind the airns and objectives as laid down by our Constitution. Achlevements and perfomiancg The temple had an increase of donations durlng the period which ensures the continued support of temple a¢tivities and community needs. The trustees effectively managed the temple's operations. gathering strong community engagement and valuable guidance from esteemgd members.
HINDU TEMPLE AND CULTURAL TRUST CENTRE TRUSTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Flnan¢lal rnvlow The financlal statements comply with current statutory requirements and with the requirements of the Constitution, Results., The Hindu Temple has unrestrlcted fund only. (i) The results for the yaar are Shown on page 5 of the financlal 8tatements, whlch the Executlve Commlttea conslders to be sound. The surplu8 for the year amounted to £158,82012023.' 60,148}. (11) Total R88epie Funds- Conslstlng of Unr8$tricted funds totalled: £2,502,878 {2023.' £2,348,058). It Is the pollcy of the Hindu Temple that unrestricted funds whlch have not been designated for a specltlc use should be malntalned at a lev81 equlvalent to b6tween three and six month's expenditure. The Board of Twstees consider that reserve8 at thls level will ensure that, in the event of a signlficant drop In fundlng, th8y wlll b8 able to contlnue tha Hindu Temple's current aclivitles while conslderatlon is glven to ways In whlch addlllonal funds may be ral8ed. Th18 level of re86rvas ha8 baen maintained throughoul the year. The Board of Tru8tee8 have a8888sed the major r18k8 to whlch the Hlndu Temple18 exposed. and are 8atl8lted that syslems are In place to mltlgate exp08ure to the major rlsks. Structuro, governance and managoment The Hindu Temple was establlshed by a charltable trust deed on 23 March 1995. The hlstory and objects of thè charlty remain the same and is relterated below., Th8 centre was formèd in 1995 with the idea of providing 8ervic88 to tha Hindu communlty, but only becorne functional in 2007 when It8 constltutlon was formallsed. The most racent constFtution was adopted by the members at Its speclal general meetlng held and a copy of whlch was filèd wllh th8 Charity Commission. The centre was r6gi8tered with the Charlty Commlsslon {regislr8tlon No. 1045242) offlcially on 23rd March 1995. Th8 regi8ler8d addres8 of the charity 18 80, Nevllle C1088, Hounslow, Mlddlesex, TW3 4JG. The Board of Trustees who 8ervgd during the year and up to the date of 8lgnature of the financlal statements were.. Mr Prem Sondhi MrPKKad Mr R Nehra MrA Ghal Mr R K Tangri Mrs N Chityal MrAJlndle Mrs N Mehta Mrs R K Ghai Mr S P Sondhi MrsSBKad MrSLDhir Mrs H L Sood Mrs Sharan Sachdeva {R68igned 19 Novembér 2023) The trustees are authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.
HINDU TEMPLEAND CULTURAL TRUST CENTRE TRUSTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The charity's current pollcy Conrning the payment of trade credltors is to follow the CBI'S Prompt Payers Code (copies are available from th8 CBI, Centre Point, 103 New Oxford Street, London WC1A1 DU). The company's current policy concemlng the payment of trade creditors Is to.. settle the terms of payment with suppliers when agreeing the temis of each transaction; ensure that suppliers aro made aware of the t8rm8 of payment by inclusion of the relevant term8 In contracts,. and pay In accordance with the compan18 contractual and other legal obllgatlons. Th Tru8tee report was approv8d by the Board of Board Of Truste88. rPKKad Chairman Dated.. 28 June 2024
HINDU TEMPLE AND CULTURAL TRUST CENTRE INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF HINDU TEMPLE AND CULTURAL TRUST CENTRE I report to the Board of Trustees on my examination of the financial statements of Hindu Temple and Cultural Trust Centre (the Hindu Temple) for the year ended 31 March 2024. R•8pon•lbllltl88 and ba818 of report As the Board of Trustees of the Hindu Temple you are responsible for the preparatlon of the financial statements in accordanc8 with the requirements of the Charlti88 Act 2011 (the 2011 Act). I report in respect of my examlnation of the Hlndu Temple'B financial 8tatements carried out under 8ectlon 145 of the 2011 Act. In carrying out my examinatlon I have followed all the applicable Directions giv8n by the Charity Commi88ion under sectlon 145(5)(b) of the 2011 Act. Indopend•nt oxamln•V• •tstsm•nt Since the Hindu Temple's gro88 Income exceeded £250,000 your examlner must be a member of a body118t8d in sectlon 145 of the 2011 Act, I confirm that l am qualifled to undertake the examlnatlon because l am a member of ICAEW, whlch Is one of the listed bodies. Your attention Is drawn to the facl that Ihe charliy has preparad financlal 8tatements In accordance wlth Accounting and Reporting by Charities preparing thelr accounts In accordance wllh th8 Financial Reporting Standard appllcable In the UK and Republic of Ir81and IFRS 102) In preference to the Accountlng and Reportlng by Charltie8'. Statement of Recommended Practlce 588ued on 1 April 2005 which18 referred to In the extant regulations but has now been withdrawn. l und8r8land that Ihls ha$ been done In order for financlal 8tatem8nt8 to provlde a true and falr vlew In accordance wlth Generally Accepted Accountlng Practlce effectlve for r8POrtlng perlod8 beglnnlng on or after 1 January 2015. I havè completed my examinalion. I confimi that no matters have come to my att8ntlon In connectlon wlth tho examln8tion glving me cause to belleve that in any material re8Pe¢t- accounllng records w8r8 nol kept In respect of the Hindu Temple as required by 8ectlon 130 of the 2011 AGt', or the flnanclal statements do not accord wlth those records., or the financlal statements do not comply wllh the appllcable requir8ment8 concerning the form and content of accounts set out in the Charitles (Accounts and Reports) Regulations 2008 other than any requlrement that the accounts glv8 a trua and fair view which Is not a matter considered a8 part of an Independent examlnatlon. I have no concorn8 and have Gome across no other rnatters In connectlon wllh the examination to whlch altentlon should be drawn in thls raport In order to enable a proper understanding of the financlal statements to be reached. Har8heèl Dodhla KLSA LLP Chartered Accountants Kalamu Housè 11 Coldbath Square London EC1R 5HL Dated.. 28 June 2024
HINDU TEMPLE AND CULTURAL TRUST CENTRE STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrtcted Unro8trlcted funds funds 2024 2023 Nots• Donatlon8 and legacies Interest received 335,364 210,928 Totsl InGomo 335,384 210,930 Charitable activitie8 178,544 150,782 Net Incomo for tho yearl Not mov8m•nt In fund• 156,820 60,148 Fund balanc88 at 1 Aprll 2023 2,348.058 2,285,910 Fund balanco• at 31 March 2024 2,502,878 2,348,058 The statement of flnanclal actlvltle8 Include8 all galn8 and108889 recognised In the year. The Statement of flnancial activitie8 Includ88 811 galn8 and108ses recognl8ed In the year. All Income and expendlture derive from conllnuing aGtlvities.
HINDU TEMPLE AND CULTURAL TRUST CENTRE BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Noto8 Flxed as80ts Tangible assets 11 2,895,622 2,923,838 Curront a880ts Debtor8 Cash at bank and in hand 12 527 465,192 322,694 486,719 Crndltor•: amount• falllng du• wfthln ono y•ar 322,698 14 (31,823) (30,875) Nat current a888t8 433,898 291.821 Total a••ets la•• current IlAbllltle• 3,329,518 3,215,857 Credltorn: amounts falllng duo aft•r moro than on• yèar 16 (826,840) (869,599) Not as•ats 2,502,878 2,346,058 Incom• fund• Unrestrlcted fund8 2,602,878 2,346,058 2,502,878 2,348,058 Th8 accounts were approvad by the Board Of Trustees on 28 June 2024 KKad Tru8te8
HINDU TEMPLEAND CULTURAL TRUST CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollc108 Charfty Informatlon Hindu Temple and Cultural Trust Centre Is a reglstared charity in the Unlted Kingdom, set up In 1995. 1.1 Accountlng convenllon The accounts have been prepared in accofdance with the Hindu Temple's govemlng document, the Charlties Acl 2011 and "Accounting and Reporting by Charilles.. Statement of Re¢omm8nded Practice appllcable to charltles preparing iheir accounts in 8ccordan¢e with the Financlal Reporting Standard appllcable In the UK and Republic of Ireland (FRS 102). (as amended for accounting perlods commencing from 1 January 2018). The Hindu Temple is a Publlc Beneflt Enllty 88 defined by FRS 102. The ftnanclal statements have departed from the Charltle8 (Account8 and Reports) Regulatlon8 2008 only to the extent requlred lo provide a true and fair vlew. Thi8 departure ha8 Involved following the Statement of Recommended Practice for charltles applying FRS 102 rather than the v8rslon of the Statement of Recommended Practice which Is referred to in the Regulatlons but which ha8 Since been withdrawn. The financial statements are prepared in Sterling, whlch 18 the functional currency of the Hlndu Temple. Monetary amounts in these finanGial statements are rounded to th8 nearest £. Th8 flnanclal stat8ment8 havo b68n Prepared under the hlstorlcal cost conventlon, modlfied to Include the revaluatlon of freehold prop8rt18$ and to includè investment propertles and certaln flnancl81 In8trument8 al f81r value. The principal accountlng pollcles adopted are set oul below. 1.2 Golng concom At the time of approvlng the flnanclal 81atements, th8 Board of Truste88 have a rea8onabl8 expectatlon that the Hlndu Temple has adequate r880ur¢e8 to continue in operatlonal exlstence for the foresee8b18 future Thu3 tha Board of Truste88 ¢onllnu8 to adopt the going concern bayis of accounting In preparing the flnancial Itatem8nt3. 1.3 Charltsbl• fund• Unrestrlcted funds are available for use at the dlscretion of the Board of TnJ8te88 In furtherance of their charltablé objective8. R•3trlcted funds are 8ubject to speclfic condltlons by donors or grantor3 as to how they may bo used. The purpo$e8 and uses of the restrlcted funds are Bet oul in th8 not8S to the financi81 JtatgmentB. Endowment funds are subject to Specific conditions by donors that the capital mu8t be maintalned by the Hindu Temple. 1.4 Incomlng rnsourceg Income is recognised when the Hlndu Temple is legally enlitled lo rl afler any parformance conditions have been met, the amounts can be measurad reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once th8 Hindu T8mple has been notified of the donation, unless perfomiance conditions require deferral of the amount. Income tax recoverable in relation lo donation5 received under Gift Aid or deeds of covenant is recognised at the time of th8 donation. Legacies are recognised on reipl or otherwise if the Hindu Temple ha5 been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as a contingent asset. 1.5 Rosources expended
HINDU TEMPLE AND CULTURAL TRUST CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng polic188 {Continufjd) Expenditure Is recognlsed once there Is a legal or constructive obligation to transfer 6conomio benefit to a third paty, it 18 probable that a transfer of economic benefits will be required in Settlement, and the amount of the obllgation can be measured reliably. Expendlture18 classified by actlvlty. Tho cost8 of each activity 8r8 made up of th8 total of dlrect QO8t8 and Shared cost8, including 8UPPOrt CO8t8 involved In undertaking each aclivlly. Direct costs 8ttributable to a Single activity are 8llocated directly to that activity. Shared cost8 which contribute to more than one activity and 8UPPOrt costs whlch ar8 not attributable to 4 single activity are apportioned between those activitle8 on a ba818 consistent wlth the use of resources. Central staff c08t8 are allocated on the ba8is of tlme 8pent, and depreclation charge8 are allocated on the portlon of the a888t'8 Use. Expendlture 18 recognls8d on an accrual b8818 as a Ilablllly In Incurred. Expendlture Includes VAT whlch Gannot be recovered. and Is r8POrted 88 part of the expenditure to whlch it relate8. C08t8 of generating fund8 cornpr18e the cost8 8880clated wlth attractlng voluntary Income. Charltable exp8ndllur8 compr1888 those costs incurred by the charlty In the dellvery of Its actlvltle8 and Services for the beneflcSaries. It Includes both costs that can be allocatad dlrectly to 8uch 8Ctlvltl88 and th088 costs of an Indirect nature ne¢e88ary to support them. Governance costs Include tho88 costs assoclated wlth meetlng the constltullon and statutory r8quiremenls of th8 charlty and Include the independent examination fees and costs Ilnked to the strategic management of the ch8rlty. Support co•t• Support ¢ost5 are those that a8818t the work of the charity but do not directly répresent charltablè actlvltl88 and Include offlce costs, governance cost, admlnlslratlon and payroll coBts, and cost8 they incurred directly in 8UPPOrt of expanditur8 on the objects of the charlty. ere support costs cannot b8 directly attributad to particular heading8 Ih8y hava been allocated lo cost of raising funds and expenditure on charitable aGtlvltles on the basis Ihat they are consistent with use of all resource$. Premlses overheads have been allocated on an insert detail basis and other overheads have been allocated on an In88rt detall bas18. Fund-ralsing wlth a cost are those incurred In seeking voluntary contributlon and do not include the c08t8 of di88eminating Informatlon in support of the charltabla actlvltle8. 1.8 T*nglbl• flx•d a800ts Tangibl8 fixed assets are initially measured at cost and subsequ8ntly moasured at cost or valuatlon. net of depreciation and any impaimient Ios888, Tangible fixed ass6t8 Other than freehold land are stated at Cost less depreciation. No depreciation hss been charged on land. This part of lemple is being developed and depreciation will b8 ¢harg8d on the cost aft8r the developmenl is completed. Depreciation is provided at rates calculated lo writ8 off the cosl less estimated residual value of each asset over its expected useful life, as follows.. Land and buildings Plant and machinery Fixtures, fittings & equipment 1 % Straight line on building 200fi Reducing balance method 20Yo Reducing balance method The gain or loss arising on the disposal of an asset is detemiined as the differen between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
HINDU TEMPLEAND CULTURAL TRUST CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollclo8 {Contlnued) 1.7 Impalmient of fixed a889ts At each reporting end date, the Hindu Temple reviews Ihe carrying amounts of its langib18 assets to determine whether there is any indication thal those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the as88t is estimated in order lo determine the extent of the impairment 1088 (if any). 1.8 Ca•h and Gash &qulvalent8 Cash and cash equlvalents Include cash In hand, dep081t8 h8ld at call with bank8, Other 8hort-term Ilquid Investments wilh origlnal maturltie8 of three months or less. and bank ovardraft8. Bank ovardr8ft8 are Shown within borrowing8 in current liabilities. 1.9 Flnanclal In•trum•nts The Hindu Templ8 has elected to apply the provisions of Sectlon 11 'Basic Flnanclal In8truments' and S8clion 12 '0ther Financial Instruments Issu88' of FRS 102 to all of its flnancial instrument8. Financlal inslrum8nts are re¢ogni8ed in the Hindu Temple's balance sheet when the Hlndu Temple becom88 party to the contractual provision8 of the Instrument. Financlal assets and 118bililie8 are offset, with Ihe net amount8 pre8ent8d In the flnanclal 8tatement8, when thère is a18gally enforceabla rlghl to set off th6 recognlsed amounts and there Is an Intenllon to 8ettl8 on a net basls or to r8allse th8 ass81 and settle tha liability simultaneously. Baslc flnanclal a850ts Ba8ic flnanclal assets, whlch Include debtor8 and ca8h and bank balanc88, are initially measured at tran8acllon prlce Includlng tran8action c08ts and are sub8equently carried at amorti88d cost U81ng the effectiv8 Interest method unless the arrangement con8tllute8 a flnancing transaction, where the tran8actlon Is mea3ured at the pre88nt value of the future r8c8ipt8 dlscounted at a markat r8te of Intere8t, Financlal assets cla881fied as recelvable wllhln one year are not amortlsed. B•81¢ flnanclal Ilabllltl•8 Basic financl81 liabllltles, Includlng credllors and bank loans are initially recognised at transaction price un1888 the arr8ngem6nt constitutes a financlng Iransacllon, where the debt Instrument is measured at the pr8sent value of the future payment$ digcounled at a market rate of interest. Financlal liabililies classified as payable wlthin one year are not amortlsad. Debt In8trurnent8 are subsequently carri8d at amortlsed cost, U81ng the effective interast rate method. Trade credltors are obligatlon8 to pay for goods or seNl¢es that have b88n acqulr8d In the ordlnary cour8e of operations from suppliers. Amount8 payable are classified as currenl liabilities If payment is due within one year or less. If not, they are presented as non-current liabilitle$. Trade Creditors are reGogni8ed Inltially at transaction price and subsequently measured at amortised cost uslng the effective interest method. Derecognitlon of flnanclal Ilabllltle8 Financial liabilities are derecognised when the Hindu Temple's contractual obligations expl or are discharged or cancelled. 1.10 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Temiination benefits are recognised immediately as an expense when the Hindu Temple is demonstrabty committed to tetrninate the employment of an employèe or to provide temination beneffts.
HINDU TEMPLE AND CULTURAL TRUST CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Crltlcal accountlng estlmates and Judgem8nts In the application of the Hlndu Temple's accountlng pollcies, th8 Board of Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilitl8s that are not readily apparent from other sourc8s. The estimates and a8s0¢iated a88umplion8 are based on historlcal experl8nce and other faGtors that are considered to b8 relevant. Aclual re8uIt8 may differ from these e8timate8. The egtimate8 and undèrlying assumptions are revlewed on an ongolng ba8is. R8visions to accounllng estimates are recognlsad in the P8rlod in which the estimate is revised where the revision affects only thal period, or in the period of the revision and future perlods where the revision affects both current and future perlods. Donatlons and logacl•• Unrestrlcted Unra•trlct•d funds lund• 2024 2023 Donatlon8 and glfts 335.384 210,928 Intero•t rocolvod Unro•trfcted Unrn•trlctsd fund• fund• 2024 2023 Interest recelvable Expendlturo on charltable actlvltlos Total 2024 Total 2023 Dlrect co8t• Shar• of support and goveminGe colts (8ee note 61 Support Governance 174,481 4,083 148,699 4,083 178,544 150,782 10-
HINDU TEMPLE AND CULTURAL TRUST CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support ¢08ts allocated to aGtlvltle3 2024 2023 Staff co8t8 Depreciation Other 8xpens88 Accountancy 37,735 37,416 99,309 4,083 31,987 36,733 77,979 4,083 178,543 150,782 Analy••d betw•on: Unr88tncted fund8 178,543 150,782 Net movem•nt In fund• 2024 2023 The net movement In fund818 Stated after charglngl{credltlng}', Depreclatlon of owned tanolb18 fixed 8888t8 37,418 36,733 Board Of Thi•tae• None of the Board of Trustees (or any persons connected wlth them) recelved any remuneratlon durlng the year, and there were no tru8te68' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. Employo The average monthly number of employees durlng the year wa8.. 2024 Number 2023 Numbor Employment costs 2024 2023 Wages and 8alarie8 37,735 31,987 There were no employees whose annual remuneration was more than £60,000. 10 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 11
HINDU TEMPLE AND CULTURAL TRUST CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Tanglblg flxod a•ts Land and bulldlng• Pl•nt and michln•ry Flxturo•, flttlng8 & •qulpment Tot•1 Cost At 1 Aprll 2023 Addltions 3,094,624 8,555 245 109,520 3,210,699 8.958 9,201 At 31 March 2024 3,094,824 8,800 118,478 3,219.900 Depreclatlon and Impalmient At 1 Aprll 2023 Depreciation Gharged In the year 193,933 30,946 6,395 82 86,534 8,388 286,862 37,416 At 31 March 2024 224,879 8,477 92,922 324,278 Carrylng amount At 31 March 2024 2,869,745 323 25,554 2,895,622 At 31 March 2023 2,900,891 160 22,985 2,923,838 12 D•btor• Amount• lalllng du• wlthln on• year: 2024 2023 Trade dabtorg Other deblors 525 528 13 Loan• and ov•rdroft8 2024 2023 Bank loan8 857,289 900,228 Payable within one year Payable after one year 30,829 826,640 30,629 869.599 The long-term loans a secured by fixed charges over the property. Commercial rates of interest are paid on the loan. 12-
HINDU TEMPLE AND CULTURAL TRUST CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Credltorn: amounts falllng duo wlthln ona y•ar 2024 2023 Not•s Bank loan8 Accruals and deferred income 13 30,629 1,194 30,829 246 31,823 30,875 15 Crodltorn: amounts falllng due aft•r moro than on• year 2024 2023 Not•• Bank loan8 13 826,840 869,599 16 Unr••trlctsd fund• The unrestricted fund8 of the charity comprlBe the unexpended balance8 of don8tlons and grant8 whlch 8r8 not subject to specific conditions by donor8 and grantors as lo how they may b8 used. These Include designated funds whlch have been set aslde out of unrestricted fund8 by Ihe trusteeB for speclfic purp0888. At 1 Aprll 2023 Incomlng RMourc•• At 31 March r••ourca• •xpendod 2024 Genaral lund8 2,346,058 335,384 (178,544) 2,502,878 Pr•vlou• Yr. At 1 Aprll 2022 Incomlng Re8ource8 At 31 Mah rosourcg• oxpended 2023 General fund8 2,286,910 210,930 (150,782) 2,346,058 17 Related party tran8actlon• There were no di8GIo8able related paty transactlons durlng the year (2023 - none). 18 Analy8ig of ¢hange• In ngt (dobt)Munds At 1 Aprll 2023 Calh flow•At 31 Ilarch 2024 Ca8h at bank and in hand 322,694 142,498 485,192 Loans falling due within one year Loans falling due after more than one year {30,829) (869,599) (30,629) (826,640) 42,959 (577,534) 185,457 (392.077) 13-