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 cli1￿lcred 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 uninco￿orated 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 Roilsfor.' 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