| Page | ||
|---|---|---|
| Report ofthe Trustees | I to7 | |
| Independent Examiner's Report |
||
| Statement ofFinancial | Activities | |
| Balance Sheet | 10 | |
| Cash Flow Statement | ||
| Notes to the Cash Flow Statement | 12 | |
| Notes to the Financial | Statements | 13to 20 |
| Detailed Statement ofFinancial Activities | 21to 22 |
| f.1,000.This | gives the f5 | 1,000reserves amount. | 1,000reserves amount. | |||
|---|---|---|---|---|---|---|
| The amount | committed in |
case emergency repairs and maintenance |
are needed to our Temple | premises | isf8,000. | |
| The Trustees hold regular | reviews ofthis long-term plan. | |||||
| The policy on holding reserves includes the following: |
||||||
| Exclude 1'rom | ||||||
| reserves f. | Reserves f | |||||
| Total funds | 1,993,515 | |||||
| Tangible fixed assets not | available for general purposes | 1,669,884 | ||||
| Less related | loans repayable | within one year | -8,412 | |||
| Less related | loans repayable | after one year | -134,876 | |||
| Committed | ifemergency | repairs are needed to the premises | 8,000 | |||
| Committed | bank balance | for | Temple building | 390,000 | ||
| Committed | for the repayment | oftrustee loans | 11,000 | |||
| 3 935,595 | (1,935,596) | |||||
| Actual reserves | 57,919 | |||||
| Reserves policy amount | 51,000 |
| REFERENCE AND ADMINISTRATIVE | DETAILS |
|---|---|
| Trustees | |
| DrTSriskandarajah | Chairperson |
| Dr SRajasundaram | Secretary |
| Mrs P Gengatharan | Treasurer |
| Dr (Mrs) VM Karunakaran | |
| Mr GManoharan | |
| Dr SNavantnam | |
| Mr SParameswaran | |
| Mr SPararajasingam | |
| Mr TRatheskumar | |
| Mr A Raveendran | |
| Mr N Sivasubramanium | |
| Dr S Sivathasan | |
| Dr S Somasegaram | |
| Mrs RSritharan | |
| Mr SSukumar | |
| Mr SSuthaharan | |
| Mr SYogarajah |
| FOR THK | YEAR EN | DED 31DECE | MBER 2020 | |||
|---|---|---|---|---|---|---|
| 2020 | 2019 | |||||
| Unrestricted | Restricted | Total funds | Total funds | |||
| funds | fund | |||||
| Notes | ||||||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations and legacies |
204.929 | 204,929 | 397,273 | |||
| Charitable activities |
||||||
| Temple Activities (Unrestricted) | 116,530 | 116,530 | 253,205 | |||
| Investment income |
610 | 610 | 1,150 | |||
| Total | 322,069 | 322,069 | 651,628 | |||
| EXPENDITURE ON | ||||||
| Charitable activities |
||||||
| Temple Activities (Unrestricted) | 378,530 | 378,530 | 600,483 | |||
| Total | 378,530 | 378,530 | 600,483 | |||
| NKT INCOME | (56,461) | (56,461) | 51,145 | |||
| RECONCILIATION | OF FUNDS | |||||
| Total funds brought forward | 1,491,487 | 560,769 | 2,052,256 | 2,001,111 | ||
| TOTAL FUNDS CARRIED FORWARD | 1435,026 | 560,769 | 1,995,795 | 2,052,256 |
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total funds | Total funds | ||
| funds | fund | ||||
| Notes | f, | ||||
| FIXEDASSETS | |||||
| Tangible assets | 10 | 1,109,115 | 560,769 | 1,669,884 | 1,753,095 |
| CURRENT ASSETS | |||||
| Stocks | ll | 1,800 | 1,800 | 1,000 | |
| Debtors | 12 | 63,988 | 63,988 | 73,529 | |
| Cash at bank and in hand | 416,411 | 416,411 | 519,725 | ||
| 482,199 | 482,199 | 594,254 | |||
| CREDITORS | |||||
| Amounts falling due within one year |
13 | (21,412) | (21,412) | (152,093) | |
| NET CURRENT ASSETS | 460,787 | 460,787 | 442,161 | ||
| TOTAL ASSETSLESSCURRENT | |||||
| LIABILITIES | 1,569,902 | 560,769 | 2,130,671 | 2,195,256 | |
| CREDITORS | |||||
| Amounts falling due after more than one year |
14 | (134,876) | (134,876) | (143,000) | |
| NKT ASSETS | 1,035.026 | 560769 | 1,995,795 | 2.052,256 | |
| FUNDS | 17 | ||||
| Unrestricted funds |
1,435,0266 | 1,491,487 | |||
| Restricted funds | 560,769 | 560,769 | |||
| TOTALFUNDS | 1,995.795 | 2.052,256 |
| FOR | THE YEA | R ENDED 31DEC | EMBER 2020 | ||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| Notes | |||||
| Cash fiows from operaflng | activities: | ||||
| Cash generated &om operations Interest paid |
(103,625) ~4,964) |
137,089 ~6,139) |
|||
| Net cash provided by (used in) operating | |||||
| activities | (108,589) | ~130950 | |||
| Cash flows from investing | activities: | ||||
| Interest received Disposal offixed assets |
610 13,211 |
1,150 ~6,300) |
|||
| Net cash provided by (used in) investing activities |
13,821 | (5,150) | |||
| Cash flows from financing | activitiesi | ||||
| Loan repayments in year |
~8,546) | ~7,357) | |||
| Net cash provided by (used in) financing |
|||||
| activities | ~8546) | ~7,357) | |||
| Change in cash and cash equivalents | in the | ||||
| reporting period |
(103,314) | 118&443 | |||
| Cash and cash equivalents | at the beginning of | ||||
| the reporting period |
519,725 | 401,282 | |||
| Cash and cash equivalents | at the end | ofthe | |||
| reporting period |
~416 411 | 519,725 |
| RECONCILIATION | RECONCILIATION | OFNET INCOME | OFNET INCOME | TO NKT CASH FLOW FROM | OPERATING ACTIVITIES | OPERATING ACTIVITIES |
|---|---|---|---|---|---|---|
| 2020 | 2019 | |||||
| Net income for the | reporting | period (as per the statement offmancial | ||||
| activities) | (56,461) | 51,145 | ||||
| Adjustments for: |
||||||
| Increase in stock | (800) | |||||
| Decrease/(increase) | in | debtors | 9,541 | (199) | ||
| (Decrease)/increase | in | creditors | (130,259) | 11,154 | ||
| Loan payment | ||||||
| Interest received | (610) | (1,150) | ||||
| Interest paid | 4,964 | 6,139 | ||||
| Depreciation charges |
70,000 | 70,000 | ||||
| Net cash provided | by | (used in) operating | activities | (103,625) | 137,089 |
| DONATIONS AND LEGACIES |
||||
|---|---|---|---|---|
| 2020 | 2019 | |||
| I | ||||
| Gift aid | 12,714 | 10,853 | ||
| Poojah | 28,755 | 44,427 | ||
| Archanai | 87,854 | 187,670 | ||
| Undiyal | 28,795 | 56,383 | ||
| Public Donations | 27,134 | 61,806 | ||
| Trustee Donadons | 13,620 | 29,542 | ||
| Orphanage in Sri Lanka Public Donations |
4,917 | 5,092 | ||
| Orphanage in Sri Lanka Trustee Donations |
1,140 | 1,500 | ||
| 204,929 | 397,273 | |||
| INVKSTMKNT INCOME | ||||
| 2020 | 2019 | |||
| s | ||||
| Deposit account interest | 610 | 1,150 | ||
| INCOME FROM CHARITABLE ACTIVITIES | ||||
| 2020 | 2019 | |||
| Activity | I | |||
| Parasardum | Temple Activities | (Unrestricted) | 17,718 | 73,034 |
| Weddings | Temple Activities | (Unrestricted) | 4,400 | 13,920 |
| Cultural Program |
Temple Activities | (Unrestricted) | 1,385 | |
| PupuNiratuthal | Temple Activities | (Unrestricted) | 550 | |
| Cleaning Charges | Temple Activities | (Unrestricted) | 75 | 260 |
| Gmceries | Temple Activities | (Unrestricted) | 11,455 | 15,435 |
| Abiseka Items | Temple Activities | (Unrestricted) | 8,716 | 10,920 |
| Outside Service | Temple Activities | (Unrestricted) | 13,195 | 19,495 |
| Rent Sivan Centre and Navalar | Temple Activities | (Unrestricted) | 2,595 | 12,570 |
| Rental Income | Temple Activities | (Unrestricted) | 11,150 | 11,400 |
| Malai | Temple Activities | (Unrestricted) | 6,933 | 13,864 |
| Calendar | Temple Activities | (Unrestricted) | 1,464 | 1,854 |
| Bank Royality | Temple Activities | (Unrestricted) | 833 | 1,784 |
| Siva Karakul | Temple Activities | (Unrestricted) | 18,950 | 18,800 |
| Karathay | Temple Activities | (Unrestricted) | 460 | 2,760 |
| Melam | Temple Activities | (Unrestricted) | 5,400 | |
| Main Hall | Temple Activities | (Unrestricted) | 4,140 | |
| Saree | Temple Activities | (Unrestricted) | 448 | 1,889 |
| Rent Income f'rom employees | Temple Activities | (Unrestricted) | 17,542 | 36,850 |
| School Fundraising | Temple Activities | (Unrestricted) | 596 | 6,145 |
| Meeting Hire | Temple Activities | (Unrestricted) | 750 | |
| 116,530 | 253,205 |
| Direct costs | Support costs | Totals | ||
|---|---|---|---|---|
| (Seenote 6) | ||||
| f, | ||||
| Temple Activities (Unrestricted) | 364,444 | 14,086 | 378,530 | |
| SUPPORT COSTS | ||||
| Governance | ||||
| Management | Finance | costs f |
Totals g |
|
| Temple Activities (Unrestricted) | 1,326 | 3,036 | 9,724 | 14,086 |
| The average monthly number ofemployees during |
the year was as follows: | |
|---|---|---|
| 2020 | 2019 | |
| Priests | 8 | 8 |
| Administrators | 3 | 4 |
| Kitchen | 1 | 1 |
| 12 | 13 |
| Unrestricted | Restricted | Total funds | ||
|---|---|---|---|---|
| funds | fund | |||
| f | ||||
| INCOME | AND ENDOWMENTS FROM | |||
| Donations | and legacies | 204,929 | 204,929 | |
| Charitable | activities | |||
| Temple Activities (Unrestricted) | 117,140 | 117,140 | ||
| Total | 322,069 | 322,069 |
| NOTES TO THE FINANCIAL STATEMENTS -CONTINUED FORTHK YEAR ENDED 31DECEMBER 2020 |
NOTES TO THE FINANCIAL STATEMENTS -CONTINUED FORTHK YEAR ENDED 31DECEMBER 2020 |
NOTES TO THE FINANCIAL STATEMENTS -CONTINUED FORTHK YEAR ENDED 31DECEMBER 2020 |
NOTES TO THE FINANCIAL STATEMENTS -CONTINUED FORTHK YEAR ENDED 31DECEMBER 2020 |
||
|---|---|---|---|---|---|
| COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES —continued | |||||
| Unrestricted | Resuicted | Total funds | |||
| funds | fund | ||||
| I | |||||
| EXPENDITURE ON | |||||
| Charitable activities |
|||||
| Temple Activities (Unrestricted) | 378,530 | 378,530 | |||
| Total | 378,530 | 378,530 | |||
| NET INCOME/(LOSS) | (56,461) | (56,461) | |||
| RECONCILIATION | OF FUNDS | ||||
| Total funds brought forward | 1,491,487 | 560,769 | 2,052356 | ||
| TOTAL FUNDS CARRIED FORWARD | trss026 | 560,769 | 1,995,795 | ||
| 10. | TANGIBLE FIXEDASSETS | ||||
| Freehohi | Long | Fixtures and | |||
| property f |
leasehold I |
fittings f |
Totals f |
||
| COST | |||||
| At 1 January 2020 | 925,218 | 1,567,776 | 58,967 | 2,551,961 | |
| Additions | (13,211) | (13,211) | |||
| At 31December 2020 | 912,007 | 1,567,776 | 58,967 | 2,538,750 | |
| DEPRECIATION | |||||
| At 1 January 2020 | 56,500 | 690,566 | 51,800 | 798,866 | |
| Charge for year | 2,500 | 67,500 | 70,000 | ||
| At 31December 2020 | 59,000 | 758,066 | 51,800 | 868,866 | |
| NET BOOKVALUE | |||||
| At 31December 2020 | 853 007 | 809,710 | 7,167 | 1,669,884 | |
| At 31December 2019 | 868718 | 877,210 | 7,167 | 1,753,095 |
| 11. | STOCKS | |||
|---|---|---|---|---|
| 2020 | 2019 | |||
| 8 | 8 | |||
| Stocks | 1,800 | 1,000 | ||
| 12. | DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2020 | 2019 | |||
| 8 | ||||
| Prepayment | and Cash in transit | 23,338 | 19,497 | |
| Debtors | 40650 | 54032 | ||
| 63,988 | 73,529 |
| NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THK YEARENDED 31DECEMBER 2020 |
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THK YEARENDED 31DECEMBER 2020 |
|||
|---|---|---|---|---|
| 13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2020 | 2019 | |||
| f. | ||||
| Bank loans | and overdrafts (see note 15) |
8,412 | 8,834 | |
| Trustee loans | 11,000 | 120,795 | ||
| Other creditors | 2,000 | 22,464 | ||
| 21,412 | 152,093 | |||
| 14. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONK YEAR | |||
| 2020 | 2019 | |||
| 8 | 8 | |||
| Bank loans | (see note 15) | 134,876 | 143,000 | |
| Trustee loans | ||||
| 134876 | 143,000 | |||
| 15. | LOANS | |||
| An analysis | ofthe maturity ofloans is given below: | |||
| 2020 | 2019 | |||
| Amounts falling due within one year. |
||||
| Bank loans | 8,412 | 8,834 | ||
| Amounts falling between one and two years: |
||||
| Bank loans | - 1-2years | 8,000 | 8,000 | |
| Amounts falling due between two and five years: |
||||
| Bank loans | —2-5 years | 24,000 | 24,000 | |
| Other loans | - 2-5 years | |||
| 24,000 | 24,000 | |||
| Amounts falling due in more than five years: |
||||
| Repayable | by instalments: | |||
| Bank loans | more 5 year by instalments | 102,876 | 111,000 | |
| 16. | SECURED DEBTS | |||
| The following secured debts are included within creditors: |
||||
| 2020 | 2019 | |||
| 4 | ||||
| Bank loans | 143788 | 151,833 | ||
| Bank loans | are secured on freehold property. |
| Net movement | |||||
|---|---|---|---|---|---|
| At 1.1.20 | in funds | At 31.12.20 | |||
| f | f | ||||
| Unrestricted funds |
|||||
| Temple Activities (Unrestricted) | 1,491,487 | (56,461) | 1,435,026 | ||
| Restricted funds | |||||
| Sivan Centre Activities (Restricted) | 560,769 | 560,769 | |||
| TOTAL FUNDS | 2,052,256 | ~56462) | 1,9995.795 | ||
| Net movement in funds, included in the above are as follows: |
|||||
| Incoming | Resources | Movement in |
|||
| resources f |
expended | funds | |||
| Unrestricted funds |
|||||
| Temple Activities (Unrestricted) | 322,069 | 378,530 | (56,461) | ||
| TOTAL FUNDS | 322,069 | 378,530 | ~56,461) | ||
| Comparatives for movement |
ut funds | ||||
| Net movement | |||||
| At 1.1.19 | in funds | At 31,12,19 | |||
| Unrestricted Funds |
|||||
| Temple Activities (Unrestricted) | 1,440,342 | 51,145 | 1,491,487 | ||
| Restricted Funds | |||||
| Sivan Centre Activities (Restricted) | 560,769 | 560,769 | |||
| TOTAL FUNDS | 2,001,111 | 51,145 | 2,052,256 | ||
| Comparative net movement |
in | funds, included in the above are as follows: | |||
| Incoming | Resources | Movement in |
|||
| resources | expended | funds | |||
| Unrestricted funds |
|||||
| Temple Activities (Unrestricted) | 651,628 | 600,483 | 51,145 | ||
| TOTAL FUNDS | 651,628 | 600,483 | 51,145 |
| 2020 | 2019 | |
|---|---|---|
| f | ||
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gilt aid | 12,714 | 10,853 |
| Poojah | 28,755 | 44,427 |
| Archanai | 87,854 | 187,670 |
| Undiyal | 28,795 | 56,383 |
| Public Donations | 27,134 | 61,806 |
| Trustee Donations | 13,620 | 29,542 |
| Orphanage in Sri Lanka Public Donations |
4,917 | 5,092 |
| Orphanage in Sri Lanka Trustee Donations |
1,140 | 1,500 |
| 204,929 | 397,273 | |
| Investment income |
||
| Deposit account interest | 610 | 1,150 |
| Charitable activities |
||
| Parasardum | 17,718 | 73,034 |
| Weddings | 4,400 | 13,920 |
| Cultural Program |
1,385 | |
| Pupu Niratuthal | 550 | |
| Cleaning Charges |
75 | 260 |
| Groceries | 11,455 | 15,435 |
| Abiseka Items | 8,716 | 10,920 |
| Outside Service | 13,195 | 19,495 |
| Rent Sivan Centre and Navalar | 2,595 | 12,570 |
| Rental Income | 11,150 | 11,400 |
| Malai | 6,933 | 13,864 |
| Calendar | 1,464 | 1,854 |
| Bank Royalty | 833 | 1,784 |
| Siva Kurukai | 18,950 | 18,800 |
| Karathay | 460 | 2,760 |
| Melam | 5,400 | |
| Book Publication | 4,140 | |
| Saree | 448 | 1,889 |
| Rental Income 1'rom Employee | 17,542 | 36,850 |
| School Fundraising | 596 | 6,145 |
| Meeting Hire | 750 | |
| 116,530 | 253,205 | |
| Total incoming resources | 322,069 | 651,628 |
| Charitable activities |
||
| Flowers Salaries ofPriests &Admin |
10,606 97,032 |
31,922 154,077 |
| Rent | 44,000 | 44,000 |
| Carried forward | 151,638 | 229,999 |
| FORTHE YEAR ENDED 31D |
ECEMBER 2020 |
|||
|---|---|---|---|---|
| Charitable activities Brought forward Prasatham / Cooking |
2020 f 151,638 16,699 |
2019 f 29,999 56,119 |
||
| Refuse collection | 2321 | 4,579 | ||
| Insurance | 10,417 | 10,419 | ||
| Electric | 12,362 | 12,050 | ||
| Water | 5,192 | 1,590 | ||
| Gas | 12,816 | 9,447 | ||
| Melam | 300 | 5,950 | ||
| Repairs | 18,931 | 41,973 | ||
| Abiseka Items | 8,149 | 24,110 | ||
| Gmcery | 7,795 | 17,289 | ||
| Donation to Hindu and Other Organisations | 10,571 | 27,964 | ||
| Depreciafion | 70,000 | 70,000 | ||
| Cleaning | 13,082 | 35,599 | ||
| Transfers to Sri Lanka Orphanage | 5,000 | 5,535 | ||
| Fruits | 6,508 | 15,959 | ||
| Teaching payments | 185 | 5,745 | ||
| 351,966 | 574,327 | |||
| Other | ||||
| Calendar Cost | and Printing | 3,241 | 4)353 | |
| Bank interest | 4,964 | 5,978 | ||
| Gilt | 945 | |||
| Advertising | 3,073 | |||
| Security costs | 3,210 | |||
| Sundry expenses | 1,063 | |||
| 12,478 | 14,349 | |||
| Support costs | ||||
| Management | ||||
| Telephone | 440 | 1,201 | ||
| Postage and stationery | 676 | 1,174 | ||
| Ttallsport | 210 | 863 | ||
| 1,326 | 3,238 | |||
| Finance | ||||
| Bank charges | 3,036 | 6,139 | ||
| Governance | costs | |||
| Independent | Examination | fees | 2,000 | 600 |
| Accountancy | fees | 5,078 | 1,830 | |
| Legal fees | 2,646 | |||
| 9,724 | 2,430 | |||
| Total resources expended | 378,530 | 600,483 | ||
| Net income/(Loss) | ~56,461) | 51,145 |