SIVAYOGAM (Charity Registered No. 1050398) 'r.. Annual Report and Financial Statements for the year ended 31 March 2025
Sivayogam Financial Statements Year ended 31 March 2025 Page Trustees, annual report Independent auditorfs report to the trustees Statement of financial activities 13 Statement of financial position Statement of cash flows 14 15 Notes to the financial statements 16-25
Sivayogam Trustees, Annual Report Year ended 31 March 2025 The Trustees of Sivayogam Charity present their annual report and audited accounts for the year ended 31 March 202). The tinancial statements have been prepared in accordance with the accounting policies set out in note I to the financial stalements and comply with the Charities Act 2011, the charity's Deed and 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 January 2019). Reference and administrative details Registered charity name Sivayogam Charity registration number 1050398 Principal office Mulberry House 128 Aurelia Road Croydon CRO 3BF United Kingdom The trustees Dr Jeyakanihan Saravanamuthu (Chair from l January 20?6) Mrs Ambihai K Selvakumar BSC. MSC. MBA, FCCA (Treasurer from l January ?0?6) Mr Navaratnam Velupi Ilai (Deputy Treasurer from l January 2026 & Health & Safety Executive froni 23 December 2025) Mr Nimalan Seevaratnam (Secretary from l July 2021) Mr Sanmugarajah P Tanaraja (Treasurer) FCCA (Retired 31 December 20?5) Auditor Adrian & Co cli1lcred Certified accountants & Statutory Auditor 141711419 London Road Norbury London SW164AH
Sivayogam Trustees, Annual Report (continued) Year ended 31 March 2025 Structure? governance and management The governing document: The charity operates under a Declaration of Trust (Trusi Deed), the governing document, which was registered with the Charity Commissioners in November 199) under registration number 1050398. The charity is constituted as an unincoorated association and it is governed and managed by the Trustees. The Registered Office of the charity is at Mulberry House 128 Aurelia Road, Croydon CRO 3BF. The Trustees= The Declaration of Trust provides for a minimum of three and a maximum of five trustees. The trustees in office at the end of the reporting year were: Mrs Ambihai K Selvakumar (Chair), appointed on 13 March 2023 Mr Sanmu&yarajah Tanarajah (Treasurer), appointed on 3 December 2011 Mr Nimalan Seevaratham (Secretary), appointed on l July 2021 Mr Jeyakanthan Sarai'anamuthu. appointed on l October 2021 Mr Navaratnam Velupillai, appointed on 13 March 2023 Mr Sanmugarajah Tanarajah retired from the Board on 31 December 2025. Following Mr Tanarajah:s retirement, the Board of Trustees assumed new responsibilities, and potential candidates for a fifth trustee position have been approached. The current composition ot.the Board is as follows: Dr Jeyakanthan Saravanamuthu (Chair) Mrs Ambihai K Selvakumar BSC, MSC, MBA. FCCA (Treasurer) Mr Navaralnam Velupillai (Deputy Treasurer and Heal & Safely Executive) Mr Nimalan Seevarainam (Secretary) Recruitment and appointment of new Trustees: The trustees convene regularly to evaluate the need for recruiting and appointing Iiew Irustees particularly in instances where an existing trustee intends to retire or when organisational requirements necessitate additional expertise. Trustees are selected based on their integrity, dedication, and commitment to advancing the charity's objectives. They are typically ivell- versed in Saiva religious principles and Tamil culture. and they actively engage in the charity's activities. Appeal for Life-term members: The trustees resolved to transfer the day-to-day management of the two temples to the devotees upon the completion of the construction work. Consequentl),. devolees actively engaged with the temples activities are invited to apply for life-tertn tnembership. Prospective members may submit their applications along with a life-lemi membership fee of £500. A total of 108 members will constitute the "Thiruppanich Sabai., This body will elect a committee of seven members to t'orm an executive committee, which will serve a three-year terni to oversee the daily operations. The executive committee will report to the Executive Officer. who, in turn, is accountable to the Board of Trustees.
Sivayogam Trustees, Annual Report (conlinued) Year ended 31 March 2025 Objectives and activities As outlined in the Trust Deed, the charity's objectives are to advance the Hindu (Saiva) religion, promote education in Hindu (Saiva) culture, provide recrealional facilities and offer relief from povety, hardship, and distress, particularly to destitute children and elders in Sri Lanka. Activities and Public Benefits In delivering its activities, the trustees have had due regard to the Charity Commission's guidance on public benefit. The charity's actiiiities are open to the wider public and are delivered for the benefit of the community without undue restriction. Local schools regularly visii the lemples as part ofeducational programmes, enabling pupils to develop their understanding of Hinduism, spirituality and cultural heritage, and supporting religious education and interfaith awareness. The lemples are also made available to public service organisations, including NHS teams and the Metropolitan Police, to support community eng)agement, hL'alth aivareness initiatives and public safety. Councillors and local Members ot" Parliainent attend major t'esiivals, helping to foster posiiive relationships belween the charity, local communities and civic instilutions. In addition, the charity supports youth development and community wellbein&y by sponsoring activities such as health camps and wellbeing initiatives: delivered free of charge by suitably qualitied professionals. The trusiees intend to expand and further develop tliese community- focused activities once the redevelopment of the Arulmihu London Muththumari Amman Temple is completed. As previously delivered during the charity's period in Tootin&, the rebuilt t"acilities will enable the recommencemeni and expansion of educational, cultural, youtli and wellbeing programmes, as outlined in the plans for future activities below. a) Temple Activities Sivayogam operates two temples: l. Arulmihu London Muththumari Amman Temple at 128 Aurclia Ro<td, Croydon, CRO 3BF. 2. Arulmihu London Nadarajar Temple at 3C & I l and 13B Ranelagh Road, Wembley, HAO 4TW. Boih temples celebrate all major Hindu (Saiva) festivals. b) Arulmihu London Muththumari Amman Temple This temple is located on a large freehold property purchased on 23 August 2019 for £2.0 million. The property includes a car park. A deposit of £0.5 million was funded through donations and temple receipts, with the remaining £1.5 million financed via a mortgage on the Croydon and Wembley properties. c) Arulmihu London Nadarajar Temple Tliis temple is also situated on a freehold property al 3C & I l and 13B Ranelagh Road, Wembley. The property includes a car park and is currently undergoing development.
Sivayogam Trustees, Annual Report (conlinued) Year ended 31 March 2025 d) Plans for Future Activities The charity plans to expand its offerings beyond the services provided by the two temples, reintroducing activities previously offered during its 16 years in Tooting. These include classes in Indian dance, Indian music (vocal, violin, iieena, and miruthangam [drurn]), and Tamil language. Additionally, new classes are proposed in English language, yog& religious knowledge, computer studies, and tuition for students up to Year 9, with a nominal tee charged for these services. The plans also include the establishment of leisure centres for elders and youth, each housed in purpose-built halls within the neiv building. As part of this initiative, elders will be provided ivith meals and refreshrnents. e) Fund for Eelam Orphans, Widoivs, and the Destitute Thc Trust continuvs to suppon the London Sivayogam Orphanage (Annal Illam) in, Uppukulam, Mannar, Sri Lanka consisting of 44 children. Additionally, financial aid is provided to support 25 children annually at the orphanage managed by the Hindu Board or Education, Kalasalai Road, Thirunelvely, JatTna, Sri Lanka. fj External Factors Impacting Activities The on&Joing allermath of the Tamil Genocide in Sri Lanka has significantly impacted the charity s operations. Many members of the congregation have lost loved ones, leading to apathy and reduced support. This: coupled ivith hi&h demand for humanitarian assistance, has constrained the charity's financial capacity. The Irustees are optimistic that cnmpletion of the Muththumari Amman Temple development will bolster resources to meet these challenges. Achievements and performance a) Rcdcsign and Construction of the New Temple- Arulmihu London Muththumari Amman Temple, Croydon The redevelopment of the Arulmihu London Muththumari Amman Temple is progressing under the guidance of architect Darnton B3 and a team nf dedicated professionals, including a senior Civil Engineer, a senior Structural Engineer, a Director of Buildings with a London Borough Council, and several community members. All are contributing their expertise on a voluntary basis to support the design and construction of the project. The new building consists of three main sections, with the central section housing the temple. The right wing on the ground floor includes a dining hall for devotees, a modern kitchen approved by the borough council. and utility rooms such as stora&Fe and ioilets. The upper floor features accommodation for priests and religious workers, as well as an exhibition hall. The left wing contains two reception halls, one on thc ground floor and the other on the upper floor. equipped with necessary facilities. The existing roof will be replaced to align with the design of the new building.
Sivayogam Trustees, Annual Report (conlinued) Year ended 31 March 2025 The trustees are grateful to the London Borough of Croydon for their support and cooperation in granting planning pemiissions and facilitating the progress of this significant project. b) Redesign and Construction of the Neil. Temple- Wembley SiLJniticant renovations are undenvay at the Wembley Temple, with the consecration ceremony (Kumbabishekam) anticipated in 2026. c) Funding The trustees remain confident that most redeiielopment costs will be niet tliroubJh donations and temple receipts, supplemented by short-terni interest-free loans from devotees when necessary. d) Support for Eelam Orphans, Widows, and Destitute The Trust continues to support the London Sivayog7am Orphanage (Annai Illam) in Sri Lanka, which currently provides care for 44 children. In addition, financial assistance is provided annually for the support 01" 25 children ai the orphana&)e managed by tlie Hindu Board of Education. Financial review The charity's total income for the year ended 31 March 20?5 was £662,382 (?024: £561,769), represenlingy an increase driven primarily by higher donations and increased income from temple activities. "folal expenditure for the year amounicd to £505.038 (2024: £477,910), retlecting ongoing costs associated iviih charitable aciivities, slaffin&, property maintenance and redevelopment works. The charity recorded a net increase in total funds of £157:344 (2024: £83,859). Restricted funds ii1Lrca5¢d during the year because ot" donations received for specific purposes, particularly in relation to development projects and charitable support activities. Unrestricted funds reduced slightly due to continued expendilure on core chariiable activities and operational costs. At the year end, the charity held net current assets of £221,954 (2024: £194,571). The trustees consider the charity to be in a stable financial posilion and are saiistied ihat it has adequate resources to meet its current obligations. While income levels have not yet fully returned to pre- pandemic levels, the trustees are encouraged by the reneived engagement of devotees and donors and remain confident that income from temple services and community activities will continue to strengthen, supporting sustainable cash flow in future periods.
Sivayogam Trustees, Annual Report (conlinued) Year ended 31 March 2025 Reserves policy The trustees have established a reserves policv ivith the objective of maintaining unrestricted reserves equivalent to approximately ihree months of operating eypenditure. This level of reserves is considered appropriate to ensure financial resilience, manage short-tern] cash flow fluctuations and enable the charity to continue its activities in the event of unexpected income shortfalls or expenditure requirements. Achieving this target has been challenging in recent years due to reduced income following the relocation of the Amman Temple and the financial demands associated with redevcloptnent projects. Despite these pressures, the trustees have sought to maintain a minimum unrestricted cash balance of approximately £25,000 al the end of each month to support day-to-day operations and ensure continuity of essential actiiiities. The trustees review the reserves position re&7ularly and fornially reassess the reserves policy on an annual basis. As financial circumstances improve: the iruslees intend io rebuild unreslricted reserves lowards the target level while continuing to apply funds responsibly and prompily in t"urtherance ot'the charity's charitable objectives. Donation making policy No changes were made to the policy thal was in practice. During the }'ear the charity made donations totalling £?9:9iO (2024: £26,139) iowards the upkeep ot" the Children orphanagyes and Elders, Home in Sri Lanka. No donations ivere made during ihe year towards other institutions or other purposes. Risk Management The trustees are responsible for identifying, revle.1ng and managing the principal risks faced by the charity. The Board underidkes regular risk assessments and has implemented systems and procedures designed to mitl8ate these risks and safeguard the charity s assets, beneficiaries and reputation. The key risks identified include financial risk arising trom reliance on voluntary donations and tluctuations in income. project risk associated ivith ihe redevelopment ot. lemple properties, including potential delays and cost ovemins" operational risk relating to the availability of suitably qualified priests and religious workers; and compliance and governance risks covering areas such as health and safety, safeguarding, employment and regulalory compliance. To miligate operational risk: the chariti, recruits qualified and experienced priests and religious workers from India and Sri Lanka, Ivhere appropriale, in accordance with applicable immigration and employment requiremenls. This approach helps to ensure continuity of religious services and the mainienance of appropriate Standards of worship and pastoral care. To address project risk, the trustees consult appropriately qualified professionals and operate with the support of a project management board comprising individuals with relevant expertise,
Sivayogam Trustees, Annual Report (conlinued) Year ended 31 March 2025 including architectural, engineering and construction experience. Professional advisers are engaged as required, and major projects are monitored regularly to manage cost, quality, compliance and delivery timelines. The trustees meet monthly to review the charity's activities: financial perforniance and strategic matters. Emergency meetings are convened as required, particularly in relation to the ongoing redevelopment and construction works. The project manager, structural engineer and principal contractor are invited to attend relevant trustee meetings to provide regular progress updates. These meetings enable the trustees to identify emerging risks at an early stage, agree appropriate mitigating actions, and monitor delivery against agreed timelines, budgets (d compliance requirements. Financial risks are mitigated through carefvl cash floiv moniioring, prudent budgeting and active engagement with the devotee community to support t"undraising. Compliance risks are managed through the regular review of policies: procedures and internal controls. The trustees believe that the systems and controls in place provide a reasonable level ot" assurance that the charity's risks are being eftectively identified and managed. Plans for future periods Arulmihu London Nadarajar Temple, Wemblcy The Arulmihu London Nadarajar Temple is situated on a freehold property acquired in 2005, from which the charity currently operates in a small hall. Conslruclion ivork for a major redevelopment of the site is actively progressing, with various phases of ivork undenvay. Completion of the primary construction phase is anticipated by April 2026. Completion and Kumbabishekam (Cons¢cratAOlI) The trustees aim to completc the main temple building at the Wembley site b), April 2026. The reception hall and other ancillary facililies are e.xpected to require a further two or more years to complete, subject to the availability of income from temple activities and donations from the congregation. The Kumbabishekam (consecration ceremony) is expected to take place on an auspicious date by September 2026. The estimated total cost of the current phase of redevelopment is £0.6 million, of which just over half of the works have been completed to dale. Progress has been inspected regularly by the London Borough of Brent. The trustees are confident in their ability to secure the remaining funding through the continued support of devotees and the wider community. In addition, the irustees plan to open a charity shop at the premises to generate supplementary income to support the charily's activities and long-tern] sustainability.
Sivayogam Trustees, Annual Report (continued) Year ended 31 March 2025 Trustees, responsibilities statement The trustees are responsible for preparing the trustees, annual report and the financial statements in accordance with applicable law and United KÈngdom Accounting Standards (United Kingdom Generally Accepted Accountino Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and apply them consistently; observe the methods and principles in the applicable Cliariiies SORP. make judgements and accounting esiimaies that are reasonable and prudent; Statement regarding audit information In so far as the trUStS are aivare: there is no relevant audit inforn]alion of which the charity's auditor is unaware; and the trustees have taken all sieps that ihey ought to have taken to make themselves aware of any relevant audit information and io csiablish tliat the auditor is aware of ihat information. The trustees, annual report was approved on 31 January 202) and signed on behaifof the board of tiust¢es by: Dr Jeyakanthan Saravanamuthu (Chair) %Lr Mrs Ambihai K Selvakumar (Trcasurcr)
Sivayogam Independent Auditor's Report to the Trustees of Sivayogam Year ended 31 March 202) Opinion We have audited the financial statements of Sivayogam (the 'charity') for the year ended 31 March 2025 Nvhich comprise the statement or rinancial activities, statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial stalements: give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incomingy resources and application of resources: including lis income and expenditure, for the year then ended; have been propcrly prepared in accordance with United King7dom Generally Accepted Accountin& Practice. have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in tlie auditor's responsibilities for ihe audit of the financial siaiements section of our report. We are independLnt ot. the charity in accordance wilh the ethical requirements that are relevant to our audil ot. the tinancial statemenls in ihe UK, including the FRC'S Etliical Standard, and we have t'ultilled our other ethical responsibilities in accordance iviih these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going coneern In auditing the financial statements. we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfornied, we have not identified any maierial uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trusl¢¢s with respect to going concern are described in the relevant sections of this report.
Sivayogam Independent Auditor's Report to the Members of Sivayogam (conlinued) Year ended 31 March 2025 Other information The other inforniation comprises the inforniation included in the annual report, other than the rinancial statements and our audilor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other infonnalion and. except to the extent otherwise explicitly ststed in our report: we do not express any fonn of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other inforniation and, in doing so, consider ivhether the other information is materially inconsistent with the financial statements or our knoivledge obtained in th¢ audit or otherwise appears to be niatcrially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to deterniine ivhether there is a material misslaternent in the financial statements or a maierial misstatement of the other inforniation. If, based on the work we have perfom]ed, we conclude ihat there is a material missiaiement of this oiher int'orniaiion, we are required to report ihai fact. We have nothing to report in this regard. Matters on Ivhich we are requAred to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have nol identified material misstatements in the trusiees, report. We have nothing to report in respect of the t'ollowing maiters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion: the infomiation given in the irustees, report is inconsistent in any material respect with the financial statements; or adequate accounting records have not been kept. or the financial statements are nol in agreement with the accounting records and returns. or we have not received all ihe inforniaiion and explanations we require t'or our audit. Responsibilities of trustees As explained more tiilly in the trustees, responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such xnternal control as th¢ Irustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessingi the charity's ability io continue as a going concern, disclosing. as applicable, matters related to going 10
Sivayogam Independent Auditor's Report to the Members of Sivayogam (continued) Year ended 31 March 2025 concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations: or have no realistic alternative but to do so Auditor's responsibilities for the audit of the finaneial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance ivith ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considercd mat¢rial if, iiidividually or in Ihe aggregate, thev could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We desigyn procedures in line with our responsibiliiies, outlined above, to delect material misstatcments in respect ot" irre&Julariiies. including fraud. The exleni to which our proccdures are capable of detectin&J irre&7ularities. including fraud is detailed below". As part ot" an audit in accordance with ISAS (UK).. Ive exercise professional judgment and maintain prot"essional scepticism throughout the audit. We also: Identify and assess the risks of material misstalement of the financial slatements. whether due to fraud or error, design and perforn) audit procedures responsive to those risks, and obtain audit evidence thai is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material missiaiement resulting from fraud is higher than t'or one resulting t.rom error. as fraud may involve collusion, forgery, intentional omissions, misrepreseniations, or the override ot"internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of cxpressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and relaied disclosures made by the trustees. Conclude on the appropriateness of ihe trustees, use of the going concern basis of accounting and, based on the audit evidence obtained. Ivhethera malerial uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to tloe r¢lalcd disclosures in the financial statements or, if such disclosures are inadequate, to modity our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, t"uture events or conditions may cause the charity to cease to coniinue as a going concern.
Sivayogam Independent Auditor's Report to the Members of Sivayogam (conlinueil) Year ended 31 March 2025 Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent tlie underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is madc solely to lh¢ charity's members: as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to slate to them in an auditor's report and for no other purpose. To the fullest exient pcnnitted by laiv, we do not accept or assume responsibility to anyone other than the charily and the charity's members as a body, for our audit work. for this report, or for the opinions we have fomie Mr Gnanaprag sam Kumar FCCA (Senior Statutory Auditor) For and on behalf of Adrian & Co Chartered Certified Accountants & Statutory Audiior 1417/1419 London Road Norbury London SW164AH 31 January 2026 12
Sivayogam Statement of Financial Activities Year ended 31 March 2025 2025 Unrestricted Restricted funds funds Total funds Total funds 2024 Note Income and endoivments Donations and legacies Charitable activities Investment inconie Other income 221,564 214,724 1,049 25,019 200,026 421,590 214.724 1,049 25,019 317,166 177,972 1,088 65,543 Total income 462,356 200,026 662,382 561,769 Expenditure Expenditure on charitable activities 8,9 Total expenditure 489,635 14,400 505,038 477,910 489,635 14,400 505,038 477,910 Net income and net movement i funds (27:?79) 185,626 157,344 83,859 Reconciliation of fund5 l otal funds brouL7ht forward 1.403,067 1,275,282 2,678,349 2,594,490 1,375,788 1,460,908 2.836,696 2.678,349 Total fund5 carried fonvard The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 13
Sivayogam Statement of Financial Position 31 March 2025 2025 2024 Fixed assets Tangible fixed assets Note 14 3,539,211 3,518,043 Current assets Debtors Cash at bank and in hand 15 26,999 314,630 26,999 239,432 341,629 266.431 Creditors: amounts falling due within one year 16 119.675 71,860 Net current assets 221,954 194,571 Total assets Icss current liabilities 3.761.165 3,712,614 Creditors: amount5 falling due after more than one year Net assets 17 925,472 1,034,265 ? 835,693 2,678,349 Funds of the charity Restricted funds Unrestricted funds 1,460,908 1,314.289 1,374,785 1,364,060 Total charity funds 18 2,835,693 2,678,349 These financial statements ivere approved by the board of trustees and authorised for issue on 31 January 2026, and are signed on behalf of the board by: Dr Je)'akanthan Saravanamuthu (Chair) Mrs Ambihai K Selvakumar (Treasurer) 14
Sivayogam Statement of Cash Flows Year ended 31 March 2025 2025 2024 Cash flows from operating activities Net Éncome 157,344 83.859 Adjiislme>ilsfor.' Depreciation of tangible fixed assets Other interest receivable and similar income Interest payable and similar charges Accrued expenses 61,857 (1,049) 77,003 3.486 60,412 (1,088) 82,093 C'hangL3' in.. Trade and other creditors 148 130 Cash generated from operations 298,789 225,406 Interest paid Interest received (72,686) (81.675) 1,049 1,088 Net cash from operating activities 227,152 144,819 Cash flows from investing activities Purchase of tangible assets (83,025) (34,589) Net cash used in investing activities {83,025) (34,589) Cash floivs from financing activities Proceeds from borrowings (68.929) (63,639) Net cash used in financing activities (68.929) (63,639) Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year 75,198 239,432 46.591 192,840 Cash and cash equivalents at end of year 314,630 239,431 15
Sivayogam Notes to the Financial Statements Year ended 31 March 2025 General information The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Mulberry House, 128 Aurelia Road, Croydon, CRO 3BF, United Kingdom Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charilies preparingv their accounts in accordance with the Financial Reporting Standard applicable in ihe UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. Accounting policics Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value ihrough income or expendiiure. The financial statements are prepared in sierling, which is the funciional currency of'the entity. Going concern There are no material uncertainties about thc charity's ability Io Lonlinue. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earniarked by the trustees for particular fulure project or commitment. Restricted funds are subjected io resirictions on their expenditure declared by the donor or through the temis of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. 16
Sivayogam Notes to the Financial Statements (conlinued) Year ended 31 March 2025 Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised ivhen receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably. in 'hICh case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if ihe value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery or the contracted service. This is classitied as unrestricted funds unless there is a contractual requirement for it lo be spent on a particiilar purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement ot. rinancial activities to which it relates: expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further lis charitable aims for the benefit of its beiieficiaries, including ihosL' support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable aclivities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single actlvity are allocaled directly to that activity. Shared costs are apportioned between the activities they conlribute to on a reasonable, juslitiable and consistent basis.
Sivayogam Notes to the Financial Statements (continued) Year ended 31 March 2025 Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impainnent losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairnient losses. Accounting policies (conliiiued) An increase iii the canying amount ot-an asset as a result of a revaluation, is recognised in other recognised gains and losses. unless it reverses a charge for impairn]ent that has previously been recognised as expenditure within the statement of tinancial activities. A decrease in the canying amount of an asset as a result ofrevaluation, is recognised in other recognised gains and losses, except to which it offseis any previous revaluation gain, in wliich case the loss is shown within other recognised gains and losses on the Siatement of tinancial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as t-olloivs". -Freehold property (excluding land) -2 % on cost -Furniture, Fixtures and Equipment .25 % on written down value -statues and shrines -not depreciated as they are made of natural stones expected to last for hundreds of years and in line with Hindu tradition. Impairment of fixed assets A review For indicators of impainnent is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amounl, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting dale. For the purposes of impairnient testing, Ivhen it is not possible lo estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes ihe asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. 18
Sivayogam Notes to the Financial Statements (conlinued) Year ended 31 March 2025 For impairment testing of goodivill, the goodwill acquired in a business combination is, to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payabJe including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounlcd. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliabls,. the investment is subsequcntly nieasured ai fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairn]ent. Other financial instruments, including derivatives, are inilially recognised at fair value, unless payment for an asset is deferred beyond normal business tenns or tinanced at a rate ot. interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instrumcnts are sub5equenily measured at fair value, with any changes recognised in the statement of financial activities, Ivith the exceptlon of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impaimi¢ni at the end of each reporting date. If there is objective evidence of impaiment. an impaimient loss is recognised under the appropriate lieading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairnient. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairnieni are recognised immediaiely, io the extent that the reversal does not result in a carrying amount of the financial asset that eycecds what the carying amount would have been had ihe impairnienl not previously been reco&)nised. 19
Sivayogam Notes to the Financial Statements (conlinued) Year ended 31 March 2025 Donations and legacies Unrestricted Restricted Total Funds Funds Funds 2025 Donations Free Will Offerings Donations 13,295 208,269 14,263 185,763 27,558 394,032 221,564 200,026 421,590 Unrestricted Restricted Total Funds Funds Funds 2024 Donations Free Will Offerings Donations 19,993 217.626 15.043 64,503 35,036 282,130 237,619 79,546 317,166 Charitable activities Unrestricted Total Unrestricted Total Funds Funds Funds 2025 Funds 2024 Temple services 214,724 214,724 177,972 177,972 Investmcnt income Unrestricted Total Unrestricted Total Funds Funds Funds 2025 Funds 2024 BanL" interest receivable 1,049 1,049 1,088 1,088 Other income Unrestricted Total Unrestricted Total Funds Funds Funds 2025 Funds 2024 S21e of goods 25,019 25,019 65,543 65,543 20
Sivayogam Notes to the Financial Statements (continued) Year ended 31 March 2025 Expenditure on charitable actftvities bv fund type Unrestricted Restricted Total Funds Funds Funds 2025 Charitable activities Support costs 471,994 17,641 14.400 487,397 17,641 489,635 14,400 505,038 Unrestricted Restricted Total Funds Funds Funds 2024 Charitable activities Support costs 419,730 17,641 40,539 460,269 17,641 437,371 40.539 477,910 Expenditure on charitable activities by activity type Aciivities undertaken directly Support Total funds Total fund costs 2025 2024 Charitable activities Gnvernance costs 487,397 487,397 17,641 17.641 460.269 17,641 487,397 17,641 505.038 477,910 10. Net income Net income is slated after charging/(crediling): 2025 2024 Depreciation of tangible fixed assets 61,857 60,412 21
Sivayogam Notes to the Financial Statements (coniinued) Year ended 31 March 2025 I l. Auditors remuneration 2025 2024 Fees payable for the audit of the financial statements 4.800 4,800 12. Staff costs The total staff costs and employee benefils for the reporting period are analysed &8 follows: 2025 2024 Wages and salaries 169,291 158,502 The average head count ofemployees during the year was 12 (2024: 12). Nil). No employee received employee benefits of more than £60,000 during the year (2024.. 13. Trustee remuneration and expcnses The executive officer was elected to be a trustee on 9 June 2021 and continues to receive a remuneration of gross monthly salary of £1.200 (2024 £1,200) for being an executive officer but not for being a tnLStee. Trustees expenses during the year were £nil (2024; £nil) 22
Sivayogam Notes to the Financial Statements (conlinued) Year ended 31 March 2025 14. Tangible fixed assets Freehold Fixtures property and fittings User defined asset Motor vehicles Equipment Total Cost At l Apr 2024 3,453.158 410.211 Additions 74,011 9,014 12,570 5,352 282.173 4,163,466 83,025 At 31 Mar 2025 3,527,169 419,227 12.570 5,352 282,173 4.246,491 Depreciation At l Apr 2024 Chargye for the year 271,394 364.316 6,836 2,877 645,423 43.441 15.337 2,279 800 61,857 At 31 Mar 2025 314,835 379,653 9,115 3.677 707.280 Carrying amount At 31 Mar 2025 3,212,334 39,574 3,455 1,675 282,173 3,539,211 At 31 Mar2024 3,181,764 45,897 5.7i4 2,475 282,173 3.518.043 There is a bank charge on one of the freehold properties - see notes 15&17 IS. Debtors 2025 2024 Other debtors 26,999 26,999 23
Sivayogam Notes to the Financial Statements (continued) Year ended 31 March 2025 16. Creditors: amounts falling due Ii'ithin one year 2025 2024 Bank loans and overdrafts Accruals and deferred income Other creditors 103.500 15,897 278 63.636 8,094 130 119,675 71,860 17. Creditors: amount5 falling due after more than one year 2025 2024 Bank loans and overdrafts 925.472 1.034,265 18. Analysis of charitable funds Unrestricted funds At At l April 2024 Income Eypendiiure 31 March 2025 1,403,067 462,356 {490,638) General funds 1,374.785 At l April 2023 Income Expenditur e At 31 March 2024 General funds 1,319,208 482,222 (437,370) 1,364,060 24
Sivayogam Notes to the Financial Statements (conlinued) Year ended 31 March 2025 Restricted funds At At l April 2024 Income Expenditure 31 March 2025 1,275,28? 200,026 (14.400) 1,460,908 Restricted Fund Al l April 2023 Income Expenditure 31 March 2024 1,275,28? 79,546 (40,539) Restricted Fund 1,314,289 19. Analysis of changes in net debt Al l Apr 2024 Cash flows At 31 Mar 2025 Cash at bank and in hand DLbt due ivithin one year Debt due after one year 239.43? 75.198 314.630 (63.636) (39,864) (103.500) (1,034,26i) 108,793 (925,472) 144,127 (714,342) (858,469) 25