**REGISTERED CHARITY NUMBER: 1051516**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 FOR LONDON SIVAN KOVIL TRUST**
**LONDON SIVAN KOVIL TRUST**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
||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 2022**
In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective from 1 January 2015, the trustees present the financial statements for the year ending 31 December 2022.
## **Objectives and Activities**
Objectives and Aims:
The charity's governing document outlines its purpose: to hold the trust fund and its income for the advancement of the Saiva (Hindu) religion following the Saiva Sithantha traditions, principles, and practices prevalent in Sri Lanka and Tamil Nadu, for the benefit of the community as determined by the trustees.
## **Significant Activities**
The Saiva (Hindu) Temple in Lewisham, London, engages in significant activities, including providing traditional Hindu meals for events (Catering Services), hosting events, ceremonies, and workshops (Cultural Function Hall), and offering Tamil language and cultural education (Tamil School). Additional activities encompass religious services, community outreach, festivals, educational workshops, cultural performances, and youth programs, enriching the community's cultural, educational, and spiritual experiences. The Temple is open 365 days a year and also assists with funeral rituals.
## **Public Benefit**
## **Public Benefit Statement:**
Public benefit, a core aspect of being a charity, is defined by two key principles: identifiable benefits and benefits to the public.
The Trustees fulfil the following responsibilities:
Review the activities conducted for public benefit. Confirm compliance with this duty.
The Temple, located in an inner-city borough identified for areas of deprivation, opens its facilities to the entire community, ensuring a warm and comfortable environment. The aim is to make the Temple accessible to all devotees, especially those with limited financial means, setting a prayer donation ticket at a starting point of £1.
The Trustees have thoroughly reviewed the activities for public benefit, confirming compliance with this duty while adhering to The Charity Commission's guidance on public benefit.
## **Grantmaking**
The Trust made donations to Hindu and other organisations of £19,282 (2021 £6,604) as follows:
Sivan Illam University students, Chetipalayam, Batticaloa, Sri Lanka £16,381(2021 £1.900) Olirum Valuce, Thunukai, Mullaitlium £Nil (2021 £1,500) Education Development Society, Muthur, Tricomallee £2,400 (2021 £3,000) Federation of Saiva Hindu Temples in UK £501 (2021 £204)
Page 1
## **LONDON SIVAN KOVIL TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Volunteers**
The Trustees express their gratitude to the dedicated volunteers for their invaluable assistance in the following areas: Overseeing and managing crowds during special events, ensuring a smooth and organized experience. Effectively managing crowd control and prioritizing health and safety measures during events. Serving food to devotees on significant occasions, contributing to a communal and inclusive atmosphere. Providing regular assistance with administrative tasks, aiding in the efficient functioning of the temple. Ensuring cleanliness and upkeep within the temple premises, contributing to a pleasant and hygienic environment for all.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The London Sivan Kovil Trust has made significant strides in providing benefits to devotees, visitors, and the local community. Key achievements and benefits include:
## Diverse Functions:
Hosting a range of functions including weddings, cultural events, and funeral rituals, catering to the diverse needs and traditions of the community.
## Inclusivity and Harmony:
Welcoming individuals of all faiths with warmth and friendship, fostering harmony and goodwill within the local community.
## Educational Outreach:
Actively engaging local school children by inviting them to the temple, allowing them to learn about the Saiva (Hindu) religion and its practices. This initiative promotes interfaith relationships and cultural understanding.
## Community Support in an Inner-City Borough:
Situated in a government-identified area for improvement, the temple provides a welcoming space for all, offering refreshments to those in need, understanding that some may have limited financial resources.
## Set Objectives for Community Well-being:
The Trustees have set clear objectives, aiming for good attendance, a diverse range of functions, and inclusivity for people of all faiths, and facilitating access to temple facilities for those with limited financial means.
## Community-Centric Facilities:
Owning the London Sivan Centre building and utilizing it for cultural events and classrooms, the Trust offers these facilities to local communities at subsidized rates, contributing to community enrichment.
## Property Ownership for Community Benefit:
Owning assets such as a flat at 4C Clarendon Rise and a small land adjacent to 4A Clarendon Rise, the Trust extends its potential for community development and support.
These achievements and initiatives demonstrate the dedication of the London Sivan Kovil Trust to serving the community, fostering understanding and respect among different cultures and religions, and contributing to the overall well-being of the local population.
## **Fundraising activities**
The medium-term plan involves purchasing the Temple building and premises at 4A Clarendon Rise. Fundraising will commence when the land is available for sale, The Trustees have successfully raised funds in the past 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 2022**
## **FINANCIAL REVIEW**
## **Financial position**
Financial Highlights - Year Ended 31st December 2022
Cash Reserves:
Cash at bank and in hand increased to £710,505, compared to £543,979 the previous year, providing ample coverage for day-to-day operational needs.
## Financial Commitments:
The funds held in the bank account have been specifically allocated to ensure the acquisition and safeguarding of the Temple premises, underscoring a steadfast financial dedication to the temple's long-term prosperity. These finances are earmarked exclusively for the purpose of purchasing the temple premises when the opportunity arises for the acquisition of the land. This careful financial planning demonstrates a strategic approach to securing the temple's future, aligning with the temple's objectives and vision.
## Bank Loans:
Bank loans decreased to £127,541 from £134,780, demonstrating prudent financial management.
## Loans from Trustees:
Loans from trustees were reduced to £Nil from £11,000, showcasing a positive financial trend.
## Surplus of Income:
The statement of financial activities reveals a surplus of £128,094 over expenditure, compared to a surplus of £174,154 in the preceding year.
## Debtor Management:
Diligent efforts to manage debtors have reduced the debtors' balance to £12,352 from £26,356, reflecting effective financial administration and collection strategies.
## Bad Debt Write-off:
A prudent approach was taken to write off £11,395 as bad debt, ensuring a clear representation of the financial position.
## Funding Sources:
Approximately half of the income is sourced from donations, reflecting strong community support, while the other half is generated from various charitable activities.
These financial highlights underscore the Trust's responsible financial management, a strong commitment to the Temple's future, and efforts to maintain a sound financial position while advancing the charitable objectives of the organization.
Page 3
## **LONDON SIVAN KOVIL TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
## **FINANCIAL REVIEW Reserves policy**
The Trustees have conducted a thorough review of the reserves, and the summarized amounts are rounded for clarity.
On average, the monthly income has consistently exceeded the monthly expenditures, resulting in a surplus. This surplus is allocated towards repaying bank loans and establishing a dedicated fund for the eventual purchase of the Temple building and its premises. A reserve of £70,000 is maintained in the bank's current account and debtor balances. This reserve serves as a safeguard to cover instances when day-to-day expenditures exceed the income, preventing the account from going overdrawn. Additionally, an amount equivalent to two months' average expenditure, totaling £72,000, is set aside as a prudent reserve.
Moreover, a separate fund of £47,000 is earmarked specifically for emergency repairs and maintenance to ensure the ongoing upkeep and maintenance of the Temple premises. This allocation demonstrates a commitment to addressing unexpected repair needs promptly and maintaining the integrity of the Temple property.
The Trustees hold regular reviews of the financial status
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 £
1,700,801
-
-
47,000
475,000
-
2,222,801|Reserves £
2,298,143
(2,222,801)
75,342
72,000|
|---|---|---|
## **FUTURE PLANS**
The Trustees anticipate the need for future decisions regarding capital expenditure, aiming to secure the freehold of the Temple building and address any additional construction requirements. Historically, such capital expenditures have been financed through a combination of committed funds, bank loans, loans from Trustees, and fundraising efforts.
Structure, Governance, and Management:
The charity is governed by its governing document, a deed of trust, establishing it as an unincorporated charity. The constitution document was initially enacted on 19th September 1993, and the trust was formally declared on 27th February 1995. The document originally named fourteen trustees, with a stipulated range of trustees being between a minimum of fourteen and a maximum of thirty-two. In an effort to enhance governance practices, the constitution was amended on 24th July 2000, incorporating a confidential election process for the selection of office bearers, thereby ensuring transparency and efficiency in leadership appointments.
Page 4
## **LONDON SIVAN KOVIL TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Charity constitution**
The charity's constitution outlines its fundamental principles and operational guidelines.
## Purpose:
The trustees are entrusted with establishing and maintaining a Sivan Temple in South East London, following the traditions of Saiva Temples observed in Sri Lanka and Tamil Nadu, India. The trust fund and its income are to be utilized for the advancement of the Saiva (Hindu) religion and other charitable purposes that benefit the community, as determined by the trustees.
## Organisational Structure:
Day-to-day management is directly handled by the trustees and is not delegated to employees. The Trust maintains an organized office with administrative staff employed by the Trust.
The trustees have elected a chairperson, secretary, treasurer, and appointed an internal auditor. There are specialized sub-committees:
A building and finance sub-committee for capital expenditure and related financing guidance.
A community service sub-committee for providing services and support to the local community.
A cultural activity sub-committee overseeing the Temple’s Saturday Tamil School, operated on the Trust's premises. The progress of all sub-committees is coordinated by the Temple committee and reported to the main board at board meetings.
## **Decision Making:**
Trustees collectively oversee decisions and transactions by attending the Temple office throughout the year. Some minor decisions regarding small value purchases are delegated to Temple staff.
The chairperson holds overall responsibility for the Trust's affairs, presiding over various meetings.
The secretary manages day-to-day administration, execution of resolutions, and liaises with sub-committees, coordinating progress and collecting reports for the Board of Trustees.
The treasurer maintains all accounts related to the Trust's affairs, which are then approved by the board at bi-monthly meetings.
Decision-making is conducted by secret ballot using a simple majority of votes, and the chairperson has a casting vote in the event of a tie.
## **Induction and Training:**
New trustees are provided with the Charity Commission publication "The Essential Trustee: what you need to know, what you need to do," and are expected to read it.
Additionally, new trustees undergo an orientation, spending time with the chairperson, secretary, and treasurer to gain an overview of each office holder’s responsibilities.
This structure and governance framework provide a clear guideline for the functioning and decision-making processes within the charity, ensuring its effective operation in alignment with its intended objectives.
Page 5
## **LONDON SIVAN KOVIL TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## Key Management Remuneration:
The trust does not have key management staff. The focus is on ensuring that administrators and religious workers are compensated with reasonable salaries.
## Wider Network:
The Trust is a member of the Federation of Saiva (Hindu) Temples of the United Kingdom. However, this membership does not influence the operating policies of the Trust.
## Related Parties:
The Trust provides support to an orphanage in Sri Lanka where eighteen resident girls receive education and reside. A dedicated team of helpers and staff are present in the facility.
## Risk Management:
The trustees are proactive in identifying and addressing various risks to protect the interests of the trust:
Food safety risks are mitigated through staff training and advice from the Local Authority Environmental Health Department. Fire safety risks are addressed by following advice from the London Fire Brigade.
Risks related to income misappropriation and unauthorized expenditure are managed through careful monitoring and ensuring segregation of duties.
Risks associated with capital expenditure projects concerning buildings and lease are mitigated by leveraging the trustees' skills in engineering, construction, and business management.
Risks concerning the wellbeing and safety of the eighteen girls in the Sri Lankan orphanage are managed through regular trustee visits, reports, and oversight by medical professionals, and comprehensive follow-ups.
These measures showcase the trustees' commitment to risk management and safeguarding the trust's operations and those it serves.
Page 7
**LONDON SIVAN KOVIL TRUST**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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 Karunaharan Chairperson Dr S Rajasundaram Secretary Mrs PV Gengatharan Treasurer Mr G Manoharan Dr S Navaratnam Mr S Parameswaran Mr S Pararajasingam Mr T Ratheskumar Mr A Raveendran Mr N Sivasubramaniam Dr S Sivathasan Dr T Sriskandarajah 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 07 September 2023 and signed on its behalf by:
Dr VM Karunaharan - Chairperson
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 2022.
## **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
07 September 2023
Page 8
## **LONDON SIVAN KOVIL TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|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
£
323,964
346,763
1,915
672,642
544,548
544,548
128,094
1,609,280
1,737,374|Restricted
fund
£
-
-
-
-
-
-
-
560,769
560,769|2022
Total funds
£
323,964
346,763
1,915
672,642
544,548
544,548
128,094
2,170,049
2,298,143|2021
Total funds
£
419,824
191,546
943
612,313
438,059
438,059
174,254
1,995,795
2,170,049|
|---|---|---|---|---|
The notes form part of these financial statements
Page 9
## **LONDON SIVAN KOVIL TRUST**
## **BALANCE SHEET AT 31 DECEMBER 2022**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
10
1,140,032
**CURRENT ASSETS**
Stocks
11
2,270
Debtors
12
52,045
Cash at bank and in hand
710,505
764,820
**CREDITORS**
Amounts falling due within one year
13
46,937
**NET CURRENT ASSETS**
717,883
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
1,857,915
**CREDITORS**
Amounts falling due after more than one year
14
(120,541)
**NET ASSETS**
1,737,374
**FUNDS**
17
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
fund
£
560,769
-
-
-
-
-
-
560,769
-
560,769|2022
Total funds
£
1,700,801
2,270
52,045
710,505
764,820
46,937
717,883
2,418,684
(120,541)
2,298,143
1,737,374
560,769
2,298,143|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|
|---|---|---|---|
The financial statements were approved by the Board of Trustees on 07 September 2023 and were signed on its behalf by:
Dr (Mrs) V M Karunaharan -Chairperson
Mrs P V Gengatharan – Treasurer
The notes form part of these financial statements
continued...
Page 10
## **LONDON SIVAN KOVIL TRUST**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022**
|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**|2022
£
186,807
(5,876)
180,931
1,915
(9,080)
(7,165)
(7,240)
(7,240)
166,526
543,979
710,505|2021
£
303,087
(4,454)
298,633
943
(163,500)
(162,557)
(8,508)
(8,508)
127,568
416,411
543,979|
|---|---|---|
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 2022**
|**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM**|**OPERATING ACTIVITIES**|**OPERATING ACTIVITIES**|
|---|---|---|---|
|||2022|2021|
|||£|£|
||**Net income for the reporting period (as per the statement of financial**|||
||**activities)**|128,094|174,254|
||**Adjustments for:**|||
||Increase in stock|(320)|(150)|
||Decrease/(increase) in debtors|(8,537)|20,480|
||(Decrease)/increase in creditors|(15,068)|26,258|
||Loan payment|7,240|8,508|
||Interest received|(1,915)|(943)|
||Interest paid|5,876|4,454|
||Depreciation charges|71,438|70,225|
||**Net cash provided by (used in) operating activities**|186,807|303,087|
Page 12
**LONDON SIVAN KOVIL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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.
## **Income**
All income is recorded in the Statement of Financial Activities once the charity has a legitimate claim to the funds, there is a high likelihood of receiving the income, and the amount can be accurately quantified.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legitimate obligation committing the charity to that expenditure. Expenditure is accounted 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 charity 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. The funds in the savings account are earmarked for the specific purpose of purchasing the temple and the associated premises, and cannot be utilized for any other purpose. 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 2022**
## **2. DONATIONS AND LEGACIES**
|Gift aid
Abesegam
Archanai
Undiyal
Public Donations
Decorative items
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)
Archanai 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)
Car/ Pooja/Soruttal
Temple Activities (Unrestricted)
Siva Kurukal
Temple Activities (Unrestricted)
Festival Events
Temple Activities (Unrestricted)
Melam Charges
Temple Activities (Unrestricted)
Saree
Temple Activities (Unrestricted)
Rent Income from employees
Temple Activities (Unrestricted)
School Fundraising
Temple Activities (Unrestricted)
Miscellaneous Income
Temple Activities (Unrestricted)|2022
£
7,758
57,537
138,582
54,986
19,161
7,936
25,910
9,354
2,740
-
323,964
2022
£
1,915
2022
£
56,038
200
1,110
19,122
24,328
45,240
36,905
13,926
10,303
3,201
7,925
42,000
26,265
7625
4,951
44,466
-
3,158
346,763|2021
£
13,797
54,182
98,712
34,907
25,204
162,000
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|
|---|---|---|
Page 14
**LONDON SIVAN KOVIL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022**
## **5. CHARITABLE ACTIVITIES COSTS**
## **6.**
|Direct costs
Support costs
(See note 6)
£
£
Temple Activities (Unrestricted)
519,444
25,105
**SUPPORT COSTS**
Management
Finance
Governance
costs
£
£
£
Temple Activities (Unrestricted)
4,330
5,399
15,376||Totals
£
544,549
Totals
£
25,106|
|---|---|---|
||||
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2022, nor for the year ended 31 December 2021.
## **8. STAFF COSTS**
The salaries of priests and temple staff were £149,851 for the year ended 31[st] December 2022 and £150,639 for the year ended 31[st] December 2021.
Government grant (Job retention scheme) of £Nil is received during the year.
The average monthly number of employees during the year was as follows:
|Priests
Administrators
Kitchen|2022
6
1
1
8|2021
6
1
1
8|
|---|---|---|
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
Investment income
943
**Charitable activities**
Temple Activities (Unrestricted)
191,546
**Total**
612,313|Restricted
fund
£
-
-
-|Total funds
£
419,824
943
191,546
612,313|
|---|---|---|
Page 15
## **LONDON SIVAN KOVIL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022**
|**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)**
174,254
-
**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 2022
912,007
1,567,776
222,467
Additions
-
-
9,080
At 31 December 2022
912,007
1,567,776
231,547
**DEPRECIATION**
At 1 January 2022
61,500
825,566
52,025
Charge for year
2,500
67,500
1,438
At 31 December 2022
64,000
893,066
53,463
**NET BOOK VALUE**
At 31 December 2021
850,507
742,210
170,442
At 31 December 2022
848,007
674,710
178,084|Total funds
£
438,059
438,059
174,254
1,995,795
2,170,049
Totals
£
2,702,250
2,702,250
939,091
71,438
1,010,529
1,763,159
1,700,801|
|---|---|
Page 16
## **LONDON SIVAN KOVIL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022**
|**11.**
**STOCKS**
Stocks
**12.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Prepayment and Cash in transit
Debtors|2022
£
2,270
2022
£
16,305
35,740
52,045|2021
£
1,950
2021
£
15,338
28,170
43,508|2021
£
1,950
2021
£
15,338
28,170
43,508|
|---|---|---|---|
|||||
||||
43,508|
Page 17
## **LONDON SIVAN KOVIL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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 – The loan was repaid in full on 26thApril 2023.
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 – The loan was repaid in full on 26thApril 2023.
Bank loans are secured on freehold property.|2022
£
7,000
-
39,937
46,937
2022
£
120,541
-
120,541
2022
£
7000
7,000
21,000
-
-
92,541
2022
£
127,541||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|
|---|---|---|---|---|
||||||
||||||
||||||
||||||
||||||
||||||
Page 18
## **LONDON SIVAN KOVIL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022**
## **17. MOVEMENT IN FUNDS**
|||Net movement||
|---|---|---|---|
||At 1.1.22|in funds|At 31.12.22|
||£|£|£|
|**Unrestricted funds**||||
|Temple Activities (Unrestricted)|1,609,280|128,094|1,737,374|
|**Restricted funds**||||
|Sivan Centre Activities (Restricted)|560,769|-|560,769|
|**TOTAL FUNDS**|2,170,049|128,094|2,298,143|
|Net movement in funds, included in the above are as follows:||||
||Incoming|Resources|Movement in|
||resources|expended|funds|
||£|£|£|
|**Unrestricted funds**||||
|Temple Activities (Unrestricted)|672,642|544,548|128,094|
|**TOTAL FUNDS**|672,642|544,548|128,094|
|**Comparatives for 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|
|Comparative 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|
Page 19
## **LONDON SIVAN KOVIL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022**
## **18. RELATED PARTY DISCLOSURES**
Trustees made interest free loans of £0 (2021 £11,000)
Dr S Somasegaram £Nil (2021 £1,000) Mr S Parameswaran £Nil (2021 £5,000) Mr S Yogarajah £Nil (2021 £5,000)
Trustees made the following donations of £28,650 (2021 £12,875) as follows:
Dr T Sriskandarajah £7,380 (2021 £2,530) Dr S Sivathasan £3,860 (2021 £2,150) Mrs PV Gengatharan £1,350 (2021 £725) Dr (Mrs) V M Karunaharan £1,720 (2021 £720) Dr S Navaratnam £500 (2021 £250) Dr S Rajasundaram £4,360 (2021 £3,610) Mr N Sivasubraniam £610 (2021 £360) Dr S Somasegaram £1,240 (2021 £1,340) Mr S Yogarajah £740 (2021 £120) Mr S Sukumar £1,920 (£2021 £670) Mr S Parameswaran £1,250 (2021 £400) Mr T Ratheskumar £600 (2021 £Nil) Mr G Manoharan £1,620 (2021 £Nil) Mr A Raveendran £500 (2021 £Nil) Mr S Pararajasingam £500 (2021 £Nil) Mrs R Sritharan £500 (2021 £Nil)
The Trust owns the freehold land and buildings of the Orphanage in Sri Lanka. A local committee in Sri Lanka operates the orphanage and its bank account. At 31st December 2022 the bank balance was approximately £2,350 (2021 approximately £355).
Page 20
## **LONDON SIVAN KOVIL TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
**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
Car/Swami Padam Pooja/Soruttal
Siva Kurukal
Festival Events
Melam Charges
Saree
Rental Income from Employee
School Fundraising
Miscellaneous Income
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Flowers
Salaries of Priests & Admin
Rent
Carried forward
Gift aid
Abesegam
Archanai
Undiyal
Public Donations
Decorative items
Trustee Donations
Orphanage in Sri Lanka Public Donations
Orphanage in Sri Lanka Trustee Donations
Coronavirus Job Retention Scheme|2022
£
1,915
56,038
200
1,110
19,122
24,328
45,240
36,905
13,926
10,303
3,201
7,925
42,000
26,265
7,625
4,951
44,466
-
3,158
348,678
672,642
18,155
149,851
44,000
212,006
7,758
57,537
138,582
54,986
19161
7,936
25,910
9,354
2,740
-
323,964|2021
£
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
13,797
54,182
98,712
34,907
25,204
162,000
11,975
5,067
900
13,080
419,824|
|---|---|---|
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 2022**
|**Charitable activities**
Brought forward
Recruitment & training cost
Prasatham / Cooking
Festival Expenses
Funeral Items
Refuse collection
Malai Cost
Insurance
Light and Heat
Water
Melam
Repairs
Abiseka Items
Archanai Items
Donation to Hindu Organisations-EDS
Depreciation
Cleaning
Transfers to Sri Lanka Orphanage
Fruits
Priest Hire
Other
**Other**
Temple Books
Loan interest
Bad debts write off
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)**|2022
£
212,006
9,815
24,770
6,255
1,299
3,271
2,400
15,178
18,853
1,725
7,402
39,076
23,076
17,383
2,400
71,438
12,250
16,381
-
11,011
2,742
498,731
820
5,876
11,395
1,776
845
20,712
1,260
2,770
-
300
4,330
5,399
2,000
4,207
9,169
15,376
544,548
128,094|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|
|---|---|---|
This page does not form part of the statutory financial statements Page 22