LONDON SIVAN KOVIL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED31 DECEMBER 2021 The trllSte present their repon with th¢ financial swements of the chariry for the yeaT ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Chariiies.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Finan¢ial Re[ing Stsndard applicable in the UK and Republic of Ireland {FRS 102) (effeciive l January 2015). OBJECTIVES AND AcfIviTIES Objectives and aims 'ThL purposes of the charity &% set in its goveming document is as follows= The frustees shall hold the trusi fund and its incolne for the advan¢ement of ihe Saiva {Hindu) religion according to th¢ Saia Sithantha trdditions. principles and prdctites prevailing in Sri Lanka and Tamil Nadu. India and such other charitsble purp(Tr5es for the benefit of the colnmunity as the tyustees shall from lime to time detennine. Signilleant aetivitl¢S A saiva (Hindu) Temple in L£wisham IndOn is operating with catering facilities, cultura5 fvnction hall and Tamil school. The Temple is open 365 day5 a year from early morning until laie evening. Hindu festivals are celebrated. Functions include weddings and Tamil traditional music and dance. The Templ¢ carry out seryices for funerals. Due to Covid-19 infection challenges and &ssociated Government restrictions the activiries at the iemple were much redu¢ed during the year ?0? I Publie bellefit Public Benefit Statement: Public benefii is * the heart of what tl rn¢s to k a charity. Two key principles define this are& l. There must be identifiable benefits. 2. The benefit5 musi to the publi¢. The Trustees must cany th¢ following.. l. Review the activities undertaken for the public benefft. 2. State whether they hav¢ Complied with this dw. The Temple is in an inner-ciry Borough, LondoEJ BorouoJ) of Lewisham th the Government h&$ identified as containing areas of deprivation. The whole cotnTnunity is welcome to use the TTUSt's facilities. Temple complex is warn) and comfortable. and we recognise that some visitors may noi have any fmancial resources to make donations. The siarting tmiint for a prayer dOnlon ticket continues to be £1. Thus the aim is to make the Temple available to all devotees of limitrd fllMncial means. The Trnsiees have reviewed the activities underthken for the public benefit as nored above. Moreover, the Trustees confirni their compliance with this duty and th The Charny Commission'sguidance on public benefit has been followed. Grantmaking The Trust made donation5 to Hindu and other organisations of £1? 104 (2020 £10.571) as follows: SiN'an Illam University sdenTS, Chetipalayam. Batticalo4 Sri tanka £l.g)0 {?020 £6.0(KI) Olirnm Valuce. Thunukai, Mullaiilium £1.5(M) I?O?O £Nil) Education Development S(Ki¢ty, Muihur. TricOnllet £i.IM)0 {2020 £1,750) Federation of Saiva Hindu TeTnples in UK £204 (?0?0 £12501 Page I
LON SIVAN KOVIL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 Volunteers The Trustees would like to thank all the volunt¢eTS that help WTth the following.. Stewardship of larg¢ numbers of people on special days. Crowd control and managelnent of health and saf¢ty 18pects. seIng food to devote¢5 on special days. Regular assistance with administraiion. Cleaning and washing within the Temple and grounds. ACHIEVEMENT AND PERFORMAP4C£ Charitable activities The main achievemenis and benefits to devoiees, visitors and the lo] cornmunity include the following.. The Temple was open every day of the year ex¢¢pt during the full shut4iown period. Considerable numbers of functions were held in the past including weddings. cultural music and dance events, and fi]neials However. the activities were very much Scal down during the year 20?0. The Temple has welcomed persons of other faith with warn)th and friendship. The aim is for hartnony in our local commuThity. Trustees wamily welcom¢ local sch(K>ls children visii io the temple io understand Saiva (Hindu) religion and way of worship at the templ¢. It also promo$ inierfaith relationship of the various communiiies in the Borough. Our Temple is 5Étllated in an imier-ciry borough identified bv ihe governtneni as containing areas needing itnprovement. All persons are made welcome and may have refreshments. We rognise that some persons may not have financial resources to make donations. The Trustees set obje¢iives of having good 4ttellde. njnning a giyxl number of functlons, welcoming people of other fasth io the Temple and helpirtg ihose in the community with Ikmited financial resources to use the Temple fa¢21ities. The Truses f¢¢1 that the achievements have met the objectives sei despiie the CoYid-19 al1£U1t1eS and restri¢tions. The Trusi owns the freehold (Trf the tknndon Sivan Centre building at 12A Lee High R(ad which houses a eultural and wedding hall and a nutnber of classrooms. These facilitie5 are used by local cotnmunities at subsidised rates. The Trnst also own a flat at 4C Clarendon Rise and a Sm) land adjaceni io the 4A Clarendon Rise. Fundrxislllg activities Th¢ medium-temj plan includes the purchase ofthe Temple buildingand ihe premises * 4A Clarendon Rise. The Trustees plan io ¢ommence fundraising at ihe appropTiat¢ time The Trustees have suc¢¢s%fully rdised funds in the pasi to build the Sivan Centre and the new Temple. Page 2
LONDON SIVAN KOVIL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 FINANCIAL REVIEW Finaneial position Cash at bank and in hand increa%d to £543.979 & 31st December ?021 compared 10 £416,411 the year earlier. The Irustees consider the level of cash in the bank to be suffici¢nt to cover day to day requirements. The savings in the bank is committed for the Temple preTni5es. Bank loans were £134.780 at 31 t)ecember2021 compared to £143288 ayearearlier. Loans from trnstees wer¢ £1 1.000 at 31 st De¢ember 2021 compared to £1 l.O(Ml a year earlier. The atement of fancial activtties shows a £174.154 surp1$ of incorne over expenditure for the year ended 3 1st December 2021 compared to a deficil of £56,461 th¢ year earlier. Debtors include £26.356 (accumulated since 2011) due from devoiees for services performed in the Temple (?020 £40.650, accumulaied since ?01 l). A deposit is received with the balance due within a reasonable time after the service 15 held. The Treasurer, Trustees. Temple Sthff and Priests are working hard as a team to colleci ihe balances and reduce the amount of debtors. Prineipal funding 50urce5 Approximately two thirds of inwrne are fron] donaiions with one third of income from charitable attivities. e3
IA)NDON SIVAN KOVIL TRUST REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 DECE.VIBER 2021 FINANCIAL REVIEW Reserves policy The Trusrees have reviewed reseThes as follow5- The amounis are rounded for clarity. The averdge amounts of monihly income have exceeded monthly expenditure wtih the Surp1 being used to repa). bank loans and build up an amount is committed for the purchase of the TeTnple building and the premises.. A £70,000 reserve in the bank current account and within debtor balances should cover when the day-10-day expenditure is ahead of incorne to prevent the account going overdraTrTrm. Two month's averAge expendittwe is £70,OW wÈth two month's loan repayment of £ 20(M). This gives ihe £7? 000 reserves amount. The 8rnouni committed for emergew TeptiiTS and mainienance is £9,(J)O. Th¢ Trnsiees hold regular reviews of the fina]Kial ststus The tx)licy on holding reserves includes the follow Ex¢lud¢ from reserves £ Reserves £ Total funds Tangible fixed assets not available for generdl purposes Less related loans repayable within one year Less related loans repayable after one year Committed if emergency repairs are needed io the premise5 Committed bank balance for Temple building Committed for th¢ repayment of truet loans 2,170,049 1.763.159 -7.17? -127,609 9,000 450,(K)O 11.000 2.098,)78 (2.098.378) Actual reserves 71,671 Reserves policy amount 72,0(K) FUTURE PLANS Trustees will need to tnake future decisions on capital expenditure to secure the freehold of the Temple buildino and any furtherconstruction activity required. During previous years Trustees haNe had financed capital expenditure with amounis coIrimitted. bank loans. loans from Tn¢$ and fundrdisin& STRUCTURE, GOVERNANCE AND MANAGEMENT GoverDing doeumtttt The chariry. is controlled by its governing diKumenL a deed of trusL and constiwtes an unincorporated charity. The constitution d(*u¥neni is dated 19th September 1993 with the declarnion of the trust made on ?7th February 1995. Fourteen trusiees were named in the document with the minimuTn llUTHber of tsustees being fourteen and the maximum thirty-two. The consiitution was updated by incoTporating a confidential ele¢tion process for office bearer's seleciion and raiified on 24th July 20(. Page 4
LONDON SIVAN KOVIL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 TRUCTURE, GOVERNANCE AND MANAGEMENr Charity constilutio The trustees shall establish and mainthin a Siyan Temple in South Easi London ac¢ording to the traditions of Saiva Temples prevailing in Sri tanka and Tamil Nadu India. The iNstees shall hold the trust fund and its income for the advancemeni of the Saiva (Hindu) religion and for other Lharitable purposes for the benefii of th¢ cotnmuniry as the m]siees may determine. Oryanisational strueture The day to day management is tarried out by mistees and not delewed to employ¢¢5. A well organised otTice is maintained with administraiiv¢ staff employed by the TrSt. "rhe Irusttts have elected achairperson. secretary And lreurff. In addition. an internal auditor is appointed. A building and finance sulTr ¢ommintt is re5ponsibl¢ forprovidingguidance forcapital expenditure and related financing. A community service sub-committee is responsible for providing services and support to the local community. A cultural a¢iivsty suIFcommittee is resFM)nsible for day to day running of th¢ Ternple's Saturday Tamil Sch[1 that is operad on the Trusts premises. All three sub- committees. progTess are coorditmtrd by the Tru5Vs secretsry and r¢prted to the main board af the 2rd meetings. Detisioll making Truste share the responsibiliry of attending the Temple office i65 davs each year io oversee all decisions and transactions. Some decisions relating to small value purchases are delegaied 10 Temple staff. The chairperson has overall reSnsibIlitY for the affairs of the Tnjst and presides over the annual, ordinary and any emergency meetings. The secreiary att¢nds io day to day admini5traiion of the Ttw and 15 responsible for the execution of th¢ resolutions passed in the Board of Trustees meetings. The wretary is also resw)nsible for liaising with the sub-comrnittees and cIK)rdinate progress to collect reports for the Board of TnLses. The treasurer is responsible for maintaining all accounts pertaining w the affairs of the Tnjsi. The secretary aTrdnges for accow)ts to be approved by board at our two monthly meeting5 of truxees. De¢isions are made by secret ballot using a simple majoriry of vote5. The chairperson at the meeting has the casting vote irresp¢ctive if the chairpersons vote wa5 a]ready cast. Inductioll and tr2iniDg of new trustees New itusiees ar¢ given the Charity Commission publication "The Essential Trustee: what you need to know. what you eed io do." New trustees are expected io read the publicatioT]. In addition, new trustees spend time with the chairperson. secretary and treasurer to gain an overview of ¢ach office holders. responsibilities. Page 5
IL)NDON SIVAN KOVIL TRUST REPORT OF THE TRUSTEES FOR THE YEAR Ef4DED 31 DECEMBER 2021 STRUCTURE, GOVERNANCE AND MAf4AGEMENT Kev managernent remuneraiion The trust does noi have key manag¢ment stsff. TrUet$ aim to ensure that athninists2tors and religious workers are paid reasonable salary. Wider network The Trust is a MeMr of the Federation of Saiva (Hindu) Temple5 of the Unitrd Ktngdom. This membership does not impaci the operating policies of the TnJsL Rel8ted parties The Trust SUprt an orphanage in Sri Lanka with twelve resident girls w]M) attend school and reside in the building. A dedicated aM of helpers and staff are resident in the building. Risk management The trusiees hai'¢ idenlifEed anumberof risks thai the is exposed to take action io pr0ct the trust against adverse consequences. To protect againM fiKKi 5af¢ty risks, kitchen staff have attended food hygiene training. In addition, advtce been received and acied upon frorn the LA)cal Authority Envirot)mentsl Health Department. To protect against fire 52fety risks. advice has been received and a¢ted upon from the London Fire Brigade. To prot¢¢t agakn5t misappropriation of income and unauthorised enditure. tsustees monitor transactions to ensur¢ Segregation of dulles and cross referencing of transactions. To protect against risks present in capital expenditi]re projects rel}ng to the buildings and lease. mlet$ possess skills in engineering. consmjciion and business manageTnenL To proiectagainst the risks of harni andabuse io the twelve girls in the orphanage in Sri lank4 Nstees visit the orphanage few lime5 ever). year ai a regular Inr¥alS. A report dei]ing the visit 15 prepared for the main board of trustees meeiing. Responsible persons from the medical profession in Sri Lanka are given the thsk to oversee the orphanage. Trustee visits io the orphanage tske many houry with follow up visits the Same day and on other days during the trustee's duraiion in STI Lanka. Thus. the staff and all conne¢t¢d with the orphanage clearly see that the Iwst¢es have tsken the girls wellbeing extremely seriously. Page 6
LONDON SIVAN KOVIL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 REFERENCE AND ADMINISTtL4TIVE DETAILS Re%istered Charity number 1051516 Principal address 4A Clarendon Rise Le.1$haM London SEli5ES REFERENCE AND ADMINISTRATIVE DETAIIS Tru5tets Dr (Mrsl V M Karunakaran Dr S RaJUndardM Mrs PV Gengatharan Chairperson Secretary Treasurer Mr G Manoharan Dr S Navaratnam Mr S Parameswarart Mr S Pardfdjasingam Mr T Ratheskumar Mr A Ravendran Mr N Siyasubramanium Dr S Sivaihasan Dr T Sriskandarnjeh Mrs R STltharan Mr S SukuTn2r Mr S SUthahan MT S Yogarajah Independent examiner Vanniasingam Sashicumarr ACMA. CGMA AA-AccountlDg and Business Solutions AssiKiat¢S 267 Haydons Road Wimbledon London SW19KrY Approved by order of the board of trustees on 28 Octotw 22 and signed on its behalf by: Dr VM Karutthardn . Chairperon Page 7
REGISTERED CHARITY NUMBER: 1051516
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 FOR LONDON SIVAN KOVIL TRUST
LONDON SIVAN KOVIL TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 7 |
| Independent Examiner's Report | 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Cash Flow Statement | 11 |
| Notes to the Cash Flow Statement | 12 |
| Notes to the Financial Statements | 13 to 20 |
| Detailed Statement of Financial Activities | 21 to 22 |
LONDON SIVAN KOVIL TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of 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 1 January 2015).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The purposes of the charity as set out in its governing document is as follows:
The Trustees shall hold the trust fund and its income upon trust to apply them for the advancement of the Saiva (Hindu) religion according to the Saiva Sithantha traditions, principles and practices prevailing in Sri Lanka and Tamil Nadu, India and such other charitable purposes for the benefit of the community as the trustees shall from time to time determine.
Significant activities
A Saiva (Hindu) Temple in Lewisham London is operated with catering facilities, function hall and Tamil school. The Temple is open 365 days a year from early morning until late evening except on Mondays to Thursdays when it closes between 2 to 5pm. Hindu festivals are celebrated. Functions include weddings and Tamil traditional music and dance. The Temple carries out services for funerals. Due to Covid-19 infection challenges and associated Government restrictions the activities at the temple were much reduced during the year 2021.
Public benefit
Public Benefit Statement:
Public benefit is at the heart of what it means to be a charity. Two key principles define this area:
-
There must be identifiable benefits.
-
The benefits must be to the public.
The Trustees must carry out the following:
-
Review the activities undertaken for the public benefit.
-
State whether they have complied with this duty.
The Temple is in an inner-City Borough, London Borough of Lewisham that the Government has identified as containing areas of deprivation. The whole community is welcome to use the Trust's facilities. Temple complex is warm and comfortable, and we recognise that some visitors may not have any financial resources to make donations.
The starting point for a prayer donation ticket continues to be £1. Thus, the aim is to make the Temple available to all persons of limited financial means.
The Trustees have reviewed the activities undertaken for the public benefit as noted above. Moreover, the Trustees confirm their compliance with this duty and that The Charity Commission's guidance on public benefit has been followed.
Grantmaking
The Trust made donations to Hindu and other organisations of £12,104 (2020 £10,571) as follows:
Sivan Illam University students, Chetipalayam, Batticaloa, Sri Lanka £1,900 (2020 £6,000) Olirum Valuce, Thunukai, Mullaitlium £1,500 (2020 £Nil)
Education Development Society, Muthur, Tricomallee £3,000 (2020 £1,750) Federation of Saiva Hindu Temples in UK £204 (2020 £1,250) Lewisham Football Club £Nil (2020 £Nil) Covid Relief, NHS Hospital Lewisham, London £Nil (2020 £1,571)
The Trust transferred £5,500 to The London Sivan Trust Orphanage in Sri Lanka (2020 £5,000)
Page 1
LONDON SIVAN KOVIL TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
Volunteers
The Trustees would like to thank the all volunteers that help with the following: Stewardship of large numbers of people on special days. Crowd control and management of health and safety aspects. Serving food to devotees on special days. Regular assistance with administration. Cleaning and washing within the Temple and grounds.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The main achievements and benefits to devotees, visitors and the local community include the following: The Temple was open every day of the year except during the full shut-down period.
Considerable numbers of functions were held including weddings, cultural music and dance events, funerals and family prayer ceremonies were held in the past. However, the activities were very much scaled down during the year 2021. The Temple has welcomed persons of other faith with warmth and friendship. The aim is for harmony in our local community.
Trustees warmly welcome local schools children visit to the temple to understand Saiva (Hindu) religion and way of worship at the temple. It also promotes interfaith relationship of various communities in the Borough.
Our Temple is situated in an inner-city borough identified by the government as containing areas for improvement. All persons are made welcome and may have refreshments. We recognise that some persons may not have financial resources to make donations.
The Trustees set objectives of having good attendance, running a good number of functions, keeping the school busy with good teaching, welcoming people of other faith to the Temple and helping those in the community with limited financial resources to use the Temple facilities. The Trustees feel that the achievements have met the objectives set despite the Covid-19 difficulties and restrictions.
The Trust own the freehold of the London Sivan Centre building at 12A Lee High Road which houses a cultural and wedding hall and a number of classrooms. These facilities are used by local communities at subsidised rates. The Trust also own a flat at 4C Clarendon Rise and a small land adjacent to the 4A Clarendon Rise.
Fundraising activities
The medium-term plan includes the purchase of the Templepremises of 4A Clarendon Rise. The Trustees plan to commence fundraising at the appropriate time. The Trustees have successfully raised funds in the past to build the Sivan Centre cultural Hall and the new Temple.
Page 2
LONDON SIVAN KOVIL TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
FINANCIAL REVIEW
Financial position
Cash at bank and in hand increased to £543,979 at 31st December 2021 compared to £416,411 the year earlier. The trustees consider the level of cash in the bank and in hand to be sufficient to cover day to day requirements. The cash in the bank committed for the Temple premises is explained below in the reserves policy.
Bank loans were £134,780 at 31st December 2021 compared to £143,288 a year earlier. Loans from trustees were £11,000 at 31st December 2021 compared to £11,000 a year earlier.
The statement of financial activities shows a £174,154 surplus of income over expenditure for the year ended 31st December 2021 compared to a deficit of £56,461 the year earlier. This surplus includes the decorative items brought into the account
Debtors include £26356 (accumulated since 2011) due from devotees for services performed in the Temple (2020 £40,650, accumulated since 2011). A deposit is received with the balance due within a reasonable time after the service is held. The Treasurer, Trustees, Temple Staff and Priests are working hard as a team to collect the balances and reduce the amount of debtors.
Principal funding sources
Approximately two thirds of income are from donations with one third of income from charitable activities.
Page 3
LONDON SIVAN KOVIL TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
FINANCIAL REVIEW Reserves policy
The Trustees have reviewed reserves as follows: The amounts are rounded for clarity.
The average amounts of monthly income have exceeded monthly expenditure with the surplus being used to repay bank loans and build up an amount that is committed for the Temple building. A £70,000 reserve in the bank current account and within debtor balances should cover points when the day-to-day timing of expenditure is ahead of income to prevent the account going overdrawn. One month’s average expenditure is £70,000 with one month’s loan repayment of £1,000. This gives the £71,000 reserves amount.
The amount committed in case emergency repairs and maintenance are needed to our Temple premises is £9,000.
The Trustees hold regular reviews of this long-term plan.
The policy on holding reserves includes the following:
| Total funds Tangible fixed assets not available for general purposes Less related loans repayable within one year Less related loans repayable after one year Committed if emergency repairs are needed to the premises Committed bank balance for Temple building Committed for the repayment of trustee loans Actual reserves Reserves policy amount |
Exclude from reserves £ 1,763,159 -7,172 -127,609 9,000 450,000 11,000 2,098,378 |
Reserves £ 2,170,049 (2,098,378) 71,671 70,000 |
|---|---|---|
FUTURE PLANS
Trustees will need to make future decisions on capital expenditure to secure the freehold on the Temple premises and any further construction activity required. During previous years Trustees have financed capital expenditure with amounts committed, bank loans, loans from Trustees and fundraising.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
The constitution document is dated 19th September 1993 with the declaration of the trust made on 27th February 1995. Fourteen trustees were named in the document with the minimum number of trustees being fourteen and the maximum thirty-two. The constitution was updated by incorporating a confidential election process for office bearer’s selection and ratified on 24th July 2000.
Page 4
LONDON SIVAN KOVIL TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT Charity constitution
The trustees shall establish and maintain a Sivan Temple in South East London according to the traditions of Saiva Temples prevailing in Sri Lanka and Tamil Nadu India.
The trustees shall hold the trust fund and its income for the advancement of the Saiva (Hindu) religion and for other charitable purposes for the benefit of the community as the trustees may determine.
Organisational structure
The day to day management is carried out by trustees and not delegated to employees. A well organised office is maintained with administrative staff employed by the Trust.
The trustees have elected a chairperson, secretary and treasurer. In addition, an internal auditor is appointed.
A building and finance sub- committee is responsible for providing guidance for capital expenditure and related financing.
A community service sub-committee is responsible for providing services and support to the local community.
A cultural activity sub-committee is responsible for day to day running of the Temple’s Saturday Tamil School that is operated on the Trusts premises.
All three sub- committees' progress are coordinated by the Trust's secretary and reported to the main board of trustee’s meetings.
Decision making
Trustees share the responsibility of attending the Temple office 365 days each year to oversee all decisions and transactions. Some decisions relating to small value purchases are delegated to Temple staff.
The president has overall responsibility for the affairs of the Trust and presides over the annual, ordinary and any emergency meetings.
The secretary attends to day to day administration of the Trust and is responsible for the execution of the resolutions passed in the Board of Trustees meetings. The secretary is also responsible for liaising with the sub-committees and coordinate progress to collect reports for the Board of Trustees.
The treasurer is responsible for maintaining all accounts pertaining to the affairs of the Trust. The secretary arranges for accounts to be approved by the committee
Decisions are made by secret ballot using a simple majority of votes. The chairperson at the meeting has the casting vote irrespective if the chairperson’s vote was already cast.
Induction and training of new trustees
New trustees are given the Charity Commission publication "The Essential Trustee: what you need to know, what you need to do." New trustees are expected to read the publication. In addition, new trustees spend time with the president, secretary and treasurer to gain an overview of each office holders’ responsibilities.
Page 5
LONDON SIVAN KOVIL TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT Key management remuneration
The trust does not have key management staff. Trustees aim to ensure that administrators and religious workers are paid a reasonable salary.
Wider network
The Trust is a member of the Federation of Saiva (Hindu) Temples of the United Kingdom. This membership does not impact the operating policies of the Trust.
Related parties
The Trust support an orphanage in Sri Lanka with seventeen resident girls who attend school and reside in the building. A dedicated team of helpers and staff are resident in the building.
Risk management
The trustees have identified a number of risks that the trust is exposed to and take action to protect the trust against adverse consequences.
To protect against food safety risks, kitchen staff have attended food hygiene training. In addition, advice has been received and acted upon from the Local Authority Environmental Health Department.
To protect against fire safety risks, advice has been received and acted upon from the London Fire Brigade.
To protect against misappropriation of income and unauthorised expenditure, trustees monitor transactions to ensure segregation of duties and cross referencing of transactions.
To protect against risks present in capital expenditure projects relating to the buildings and lease, trustees possess skills in engineering, construction and business management.
To protect against the risks of harm and abuse to the seventeen girls in the orphanage in Sri Lanka, trustees visit the orphanage few times every year at a regular intervals. A report detailing the visit is prepared for the main board of trustees meeting. Responsible persons from the medical profession in Sri Lanka are given the task to oversee the orphanage. Trustee visits to the orphanage take many hours with follow up visits the same day and on other days during the trustee’s duration in Sri Lanka. Thus, the staff and all connected with the orphanage clearly see that the trustees have taken the girls wellbeing extremely seriously.
Page 6
LONDON SIVAN KOVIL TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number 1051516
Principal address 4A Clarendon Rise Lewisham London SE13 5ES
REFERENCE AND ADMINISTRATIVE DETAILS Trustees Dr (Mrs) V M Karunakaran Chairperson Dr S Rajasundaram Secretary Mrs V Gengatharan Treasurer Dr T Sriskandarajah Mr G Manoharan Dr S Navaratnam Mr S Parameswaran Mr S Pararajasingam Mr T Ratheskumar Mr A Raveendran Mr N Sivasubramanium Dr S Sivathasan Dr S Somasegaram Mrs R Sritharan Mr S Sukumar Mr S Suthaharan Mr S Yogarajah
Independent examiner
Vanniasingam Sashicumarr ACMA, CGMA AA-Accounting and Business Solutions Associates 267 Haydons Road Wimbledon London SW19 8TY
Approved by order of the board of trustees on 28 October 2022 and signed on its behalf by:
Dr T Sriskandarajah - Trustee
Page 7
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LONDON SIVAN KOVIL TRUST
Independent examiner's report to the trustees of LONDON SIVAN KOVIL TRUST
I report on the accounts of the LONDON SIVAN KOVIL TRUST (the Trust) for the year ended 31 December 2021.
Respective responsibilities of trustees and examiner
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities act 2011 (the 2011 Act) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of Chartered Institute of Management Accountants.
Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:
-
Examine the accounts under section 145 of the 2011 Act:
-
Follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act:
-
State whether particular matter have come to my attention
Basis of independent examiners statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations, from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below
Vanniasingam Sashicumarr ACMA, CGMA AA-Accounting and Business Solutions Associates 267 Haydons Road Wimbledon London SW19 8TY
21 October 2022
Page 8
LONDON SIVAN KOVIL TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Charitable activities 4 Temple Activities (Unrestricted) Investment income 3 Total EXPENDITURE ON Charitable activities 5 Temple Activities (Unrestricted) Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 419,824 191,546 943 612,313 438,059 438,059 174,254 1,435,026 1,609,280 |
Restricted fund £ - - - - - - - 560,769 560,769 |
2021 Total funds £ 419,824 191,546 943 612,313 438,059 438,059 174,254 1,995,795 2,170,049 |
2020 Total funds £ 204,929 116,530 610 322,069 378,530 378,530 (56,461) 2,052,256 1,995,795 |
|---|---|---|---|---|
The notes form part of these financial statements
Page 9
LONDON SIVAN KOVIL TRUST
BALANCE SHEET
AT 31 DECEMBER 2021
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 10 1,202,390 CURRENT ASSETS Stocks 11 1,950 Debtors 12 43,508 Cash at bank and in hand 543,978 589,436 CREDITORS Amounts falling due within one year 13 54,937 NET CURRENT ASSETS 534,499 TOTAL ASSETS LESS CURRENT LIABILITIES 1,736,889 CREDITORS Amounts falling due after more than one year 14 (127,609) NET ASSETS 1,609,280 FUNDS 17 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ 560,769 - - - - - - 560,769 - 560,769 |
2021 Total funds £ 1,763,159 1,950 43,508 543,978 589,436 54,937 534,499 2,297,658 (127,609) 2,170,049 1,609,280 560,769 2,170,049 |
2020 Total funds £ 1,669,884 1,800 63,988 416,411 482,199 (21,412) 460,787 2,130,671 (134,876) 1,995,795 1,435,026 560,769 1,995,795 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees on 18 October 2022 and were signed on its behalf by:
Dr (Mrs) V M Karunakaran -Trustee
Dr S Rajasundaram -Trustee
Mrs V Gengatharan – Trustee
The notes form part of these financial statements
continued...
Page 10
LONDON SIVAN KOVIL TRUST
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021
| Notes Cash flows from operating activities: Cash generated from operations 1 Interest paid Net cash provided by (used in) operating activities Cash flows from investing activities: Interest received Addition of fixed assets Net cash provided by (used in) investing activities Cash flows from financing activities: Loan repayments in year Net cash provided by (used in) financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2021 £ 303,087 (4,454) 298,633 943 (163,500) (162,557) (8,508) (8,508) 127,568 416,411 543,979 |
2020 £ (103,625) (4,964) (108,589) 610 13,211 13,821 (8,546) (8,546) (103,314) 519,725 416,411 |
|---|---|---|
The notes form part of these financial statements
Page 11
LONDON SIVAN KOVIL TRUST
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income for the reporting period (as per the statement of financial activities) Adjustments for: Increase in stock Decrease/(increase) in debtors (Decrease)/increase in creditors Loan payment Interest received Interest paid Depreciation charges Net cash provided by (used in) operating activities |
2021 £ 174,254 (150) 20,480 26,258 8,508 (943) 4,454 70,225 303,087 |
2020 £ (56,461) (800) 9,541 (130,259) - (610) 4,964 70,000 (103,625) |
|---|---|---|
Page 12
LONDON SIVAN KOVIL TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.
Allocation and apportionment of costs
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Freehold property | -cost less residual value is depreciated over the useful life |
|---|---|
| Long leasehold | - over the lease term |
| Fixtures and fittings | - at varying rates on cost |
Depreciation is not charged on the land element of freehold buildings.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 13
LONDON SIVAN KOVIL TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021
2. DONATIONS AND LEGACIES
| Gift aid Abesegam Archanai Undiyal Public Donations Trustee Donations Orphanage in Sri Lanka Public Donations Orphanage in Sri Lanka Trustee Donations Coronavirus Job Retention Scheme 3. INVESTMENT INCOME Deposit account interest 4. INCOME FROM CHARITABLE ACTIVITIES Activity Parasardum Temple Activities (Unrestricted) Weddings Temple Activities (Unrestricted) Cleaning Charges Temple Activities (Unrestricted) Groceries Temple Activities (Unrestricted) Abiseka Items Temple Activities (Unrestricted) Outside Service Temple Activities (Unrestricted) Rent Sivan Centre and Navalar Temple Activities (Unrestricted) Rental Income Temple Activities (Unrestricted) Malai Temple Activities (Unrestricted) Calendar/ Book Sale Temple Activities (Unrestricted) Bank Royality Temple Activities (Unrestricted) Siva Kurukal Temple Activities (Unrestricted) Karathay Temple Activities (Unrestricted) Melam Temple Activities (Unrestricted) Main Hall Temple Activities (Unrestricted) Saree Temple Activities (Unrestricted) Rent Income from employees Temple Activities (Unrestricted) School Fundraising Temple Activities (Unrestricted) Miscellaneous Income Temple Activities (Unrestricted) |
2021 £ 13,797 54,182 98,712 34,907 187,204 11,975 5,067 900 13,080 419,824 2021 £ 943 2021 £ 15,693 600 - 14,328 11,780 30,980 14,995 11,400 7,976 682 - 36,100 - - - 2,780 43,450 - 782 191,546 |
2020 £ 12,714 28,755 87,854 28,795 27,134 13,620 4,917 1,140 - |
2020 £ 12,714 28,755 87,854 28,795 27,134 13,620 4,917 1,140 - |
|---|---|---|---|
| 204,929 | |||
| 2020 £ 610 |
|||
| 2020 £ 17,718 4,400 75 11,455 8,716 13,195 2,595 11,150 6,933 1,464 833 18,950 460 - - 448 17,542 596 - |
|||
| 116,530 |
Page 14
LONDON SIVAN KOVIL TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021
5. CHARITABLE ACTIVITIES COSTS
6.
| Direct costs Support costs (See note 6) £ £ Temple Activities (Unrestricted) 398,143 39,916 SUPPORT COSTS Management Finance Governance costs £ £ £ Temple Activities (Unrestricted) 4,860 4,001 31,055 |
Totals £ 438,059 |
|
|---|---|---|
| Totals £ 39,916 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021, nor for the year ended 31 December 2020.
8. STAFF COSTS
The salaries of priests and temple staff were £150,639 for the year ended 31[st] December 2021 and £97,032 for the year ended 31[st] December 2020.
Government grant (Job retention scheme) of £13,081 is received during the year.
The average monthly number of employees during the year was as follows:
| Priests Administrators Kitchen |
2021 6 1 1 8 |
2020 8 1 1 |
|---|---|---|
| 10 |
No employees received emoluments in excess of £60,000.
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 419,824 Charitable activities Temple Activities (Unrestricted) 191,546 Total 611,370 |
Restricted fund £ - - - |
Total funds £ 410,273 201,097 |
|---|---|---|
| 611,370 |
Page 15
LONDON SIVAN KOVIL TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021
| 9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES – continued Unrestricted funds Restricted fund £ £ EXPENDITURE ON Charitable activities Temple Activities (Unrestricted) 438,059 - - Total 438,059 - NET INCOME/(LOSS) 173,311 - RECONCILIATION OF FUNDS Total funds brought forward 1,435,026 560,769 TOTAL FUNDS CARRIED FORWARD 1,609,280 560,769 10. TANGIBLE FIXED ASSETS Freehold property Long leasehold Fixtures and fittings £ £ £ COST At 1 January 2021 912,007 1,567,776 58,967 Additions - - 163,500 At 31 December 2021 912,007 1,567,776 222,467 DEPRECIATION At 1 January 2021 59,000 758,066 51,800 Charge for year 2,500 67,500 225 At 31 December 2021 61,500 825,666 52,025 NET BOOK VALUE At 31 December 2020 853,007 809,710 7,167 At 31 December 2021 850,507 742,210 170,442 |
Total funds £ 438,059 |
|---|---|
| 438,059 | |
| 173,311 1,9958,795 |
|
| 2,170,049 | |
| Totals £ 2,538,750 163,500 2,702,250 |
|
| 868,866 70,000 |
|
| 939,091 | |
| 1,669,884 | |
| 1,763,159 |
Page 16
LONDON SIVAN KOVIL TRUST
NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021
| 11. STOCKS Stocks 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayment and Cash in transit Debtors |
2021 £ 1,950 2021 £ 15,338 28,170 43,508 |
2020 £ 1,800 2020 £ 23,338 40,650 63,988 |
2020 £ 1,800 2020 £ 23,338 40,650 63,988 |
|
|---|---|---|---|---|
Page 17
LONDON SIVAN KOVIL TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Bank loans and overdrafts (see note 15) Trustee loans Other creditors 14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 15) Trustee loans 15. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year: Bank loans Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years Other loans - 2-5 years Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 year by instalments 16. SECURED DEBTS The following secured debts are included within creditors: Bank loans Bank loans are secured on freehold property. |
Bank loans and overdrafts (see note 15) Trustee loans Other creditors 14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 15) Trustee loans 15. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year: Bank loans Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years Other loans - 2-5 years Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 year by instalments 16. SECURED DEBTS The following secured debts are included within creditors: Bank loans Bank loans are secured on freehold property. |
2021 £ 7,172 11,000 36,765 54,937 2021 £ 134,781 - 134,781 2021 £ 7,172 7,000 21,000 - 21,000 99,609 2021 £ 134,781 |
2020 £ 8,412 11,000 2,000 |
|
|---|---|---|---|---|
| 21,412 | ||||
| 2020 £ 134,876 - |
||||
| 134,876 | ||||
| 2020 £ 8,412 |
||||
| 8,000 | ||||
| 24,000 - |
||||
| 24,000 | ||||
| 102,876 | ||||
| 2020 £ 143,288 |
||||
Page 18
LONDON SIVAN KOVIL TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021
17. MOVEMENT IN FUNDS
| Net movement | |||
|---|---|---|---|
| At 1.1.21 | in funds | At 31.12.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Temple Activities (Unrestricted) | 1,435,026 | 174,254 | 1,609,280 |
| Restricted funds | |||
| Sivan Centre Activities (Restricted) | 560,769 | - | 560,769 |
| TOTAL FUNDS | 1,995,795 | 174,254 | 2,170,049 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement in | |
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Temple Activities (Unrestricted) | 612,313 | 438,059 | 174,254 |
| TOTAL FUNDS | 612,313 | 438,059 | 174,254 |
| Comparatives for movement in funds | |||
| Net movement | |||
| At 1.1.20 | in funds | At 31.12.20 | |
| £ | £ | £ | |
| 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 | (56,461) | 1,995,795 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement in | |
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Temple Activities (Unrestricted) | 322,069 | 378,530 | (56,461) |
| TOTAL FUNDS | 322,069 | 378,530 | (56,461) |
Page 19
LONDON SIVAN KOVIL TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021
18. RELATED PARTY DISCLOSURES
Trustees made interest free loans of £11,000 (2020 £11,000) as follows:
Dr S Somasegaram £1,000 (2020 £1,000) Mr S Parameshwaran £5,000 (2020 £5,000) Mr S Yogarajah £5,000 (2020 £5,000)
Trustees made the following donations of £12,875 (2020 £14,760) as follows:
Dr T Sriskandarajah £2,530 (2020 £5,430) Dr S Sivathasan £2,150 (2020 £490) Mrs PV Gengatharan £725 (2020 £700) Dr (Mrs) V M Karunakaran £720 (2020 £720) Dr S Navaratnam £250 (2020 £300) Dr S Rajasundaram £3,610 (2020 £4,210) Mr N Sivasubraniam £360 (2020 £360) Dr S Somasegaram £1340 (2020 £490) Mr S Yogarajah £120 (2020 £220) Mr S Sukumar £670 (£2020 £1,170) Mr S Parameshwaran £400 (2020 £450) Mrs R Sritharan £Nil (2020 £100)
The Trust own the freehold land and buildings of the Orphanage in Sri Lanka. A local committee in Sri Lanka operate the orphanage and its bank account. At 31st December 2021 the bank balance was approximately £355 (2020 Approximately £150).
Page 20
LONDON SIVAN KOVIL TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| INCOME AND ENDOWMENTS Donations and legacies Gift aid Abesegam Archanai Undiyal Public Donations Trustee Donations Orphanage in Sri Lanka Public Donations Orphanage in Sri Lanka Trustee Donations Coronavirus Job Retention Scheme Investment income Deposit account interest Charitable activities Parasardum Weddings Cleaning Charges Archanai Items Abiseka Items Outside Service Rent Sivan Centre and Navalar Rental Income Malai Calendar/Book Sale Bank Royalty Siva Kurukal Karathay Melam Saree Rental Income from Employee School Fundraising Miscellaneous Income Total incoming resources EXPENDITURE Charitable activities Flowers Salaries of Priests & Admin Rent Carried forward |
2021 £ 13,797 54,182 98,712 34,907 187,204 11,975 5,067 900 13,080 419,824 943 15,693 600 - 14,328 11,780 30,980 14,995 11,400 7,976 682 - 36,100 - - 2,780 43,450 - 782 191,546 612,313 10,146 150,639 44,000 204,785 |
2020 £ 12,714 28,755 87,854 28,795 27,134 13,620 4,917 1,140 - |
|---|---|---|
| 204,929 610 17,718 4,400 75 11,455 8,716 13,195 2,595 11,150 6,933 1,464 833 18,950 460 - 448 17,542 596 - |
||
| 116,530 | ||
| 322,069 10,606 97,032 44,000 151,638 |
This page does not form part of the statutory financial statements Page 21
LONDON SIVAN KOVIL TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Charitable activities Brought forward Prasatham / Cooking Refuse collection Insurance Light and Heat Water Melam Repairs Abiseka Items Archanai Items Donation to Hindu Organisations Depreciation Cleaning Transfers to Sri Lanka Orphanage Fruits Teaching payments Other Temple Books Bank interest Gift Advertising Security costs Sundry expenses Support costs Management Telephone Postage and stationery IT Support Transport Finance Bank charges Governance costs Independent Examination fees Accountancy fees Legal fees Total resources expended Net income/(Loss) |
2021 £ 204,785 10,841 3,168 10,094 14,460 4,689 7,495 13,480 10,559 12,305 6,604 70,225 11,718 5,500 1,842 - 387,765 1,995 4,454 - - - 3,797 132 10,378 782 1,553 1,250 1,275 4,860 4,001 2,000 4,250 24,805 31,055 438,059 174.254 |
2020 £ 151,638 16,699 2,321 10,417 25,178 5,192 300 18,931 8,149 7,795 10,571 70,000 13,082 5,000 6,508 185 351,966 3,241 4,964 - - - 3,210 1,063 12,478 440 676 - 210 1,326 3,036 2,000 5,078 2,646 9,724 378,530 (56,461) |
|---|---|---|
This page does not form part of the statutory financial statements Page 22
INDEPENDENT EXAMIPQER'S REPORT TO THE TRL.STEES OF LONDOli SIV.4N KOVIL TRusr IndepeDdeTht examintr's report to the trustees of ILPNDON SIVAN KOI'IL TRUST I report on the accounts of the LONtKIN SIV AN KOK'IL TRUST (the Tyusil for the ¢nded 31 December ?0? l. Rtspecliye r¢sponsibiliti¢s of trustee5 ¢¥•miM¢r -thc trustees are respoiisibje for the prepardtion of the accowits. Tr tte¢S ¢unsider Ihai an audit TS iiot r¢quired lor Iliis yt&r under sectKJn 1441?) of the Chariiies act ?01 I Iihe 2011 Acij and that an indetLy>dent examination is needed. 'Ilie eharÈty'5 gr05s income exceeded 50.0(KI and l am qU¥fIed to undenake the exarninaiion b), being a qualified )emkr of Chanered Insiiiuie of Nfanagement Accountants. 14&viJig satisfied myself thai the Lhartty is noi subjec( io an alklii under company law and i5 eligable for independent examinalitsn. Lt is mv responsibility EO-. Examille the a¢counis under seciion 145 of the ?01 l A¢1= Follow Ihe procedures laid dolffi in the gettral Direcrions given by the Charl, CoTnmission under section 145{iXb) of the ?01 l Ath.. Stale whether particular matter h8Ye coH]¢ io my attentFon Basts of independeol ¢x•mittrs stalement Nly examinatioft Wds ¢afFi¢d out iD accordance with general Direciions given by ih¢ Lharity Commission. An examination tncludes a reyiew of the accounting reetsrds kepi bs, Éhe chariry and a comparison of the accounts presend 'ILh those records. It a150 includeg consid¢raiyon of any ullusual iiems or disclosure5 in th¢ account5. and seeking Lxplanaiions. from You as trusitrs ¢onceming any such rnalter5. The prnttdles undertaken do noi prts¥'ide all Ihe eYiden¢e ihal would be required in an audiL and con5¢quelltly no opinion is bvi¥¢n a5 10 whether rhe accounts prescnt a 'Iru¢ and fair view" and the report is lirnited io th¢)se matter5 sei in ihe statem¢nt 10 Vanniasinrtam SashicumwT ACMA. CGMA AA-Aceounting and Business SoluLLon5 ASla[e$ ?67 rfaydon% Road Wimblcdon London SW19 8TY 21 October ?(ll2 Pa8¢ 8