## Dharmaj Society of London Registered Charity 1070401
## Statement of accounts For year ended 15 August 2023
## Contents
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|---|---|---|---|---|
|Page|
|Legal|and|administrative|information|1|
|Report of the management committee|2-3|
|Independent|Accountants'|Report|4|
|Statement|of financial|activities|5|
|Balance|sheet|6|
|Notes|forming part of the|accounts|7-10|
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# Dharmaj Society of London Registered Charity 1070401
## Legal and administrative information
## Status
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page 1
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Dharmaj Society of London (DHASOL) is a registered charity, registered with The Charity Commission for England & Wales since 6th July 1998.
DHASOL was established as a members organisation during1967-68. The management and wellbeing of the society is vested in The Executive Board by virtue of amendments to the original constitution adopted at the AGMs held on 24 February 2008 and 23 April 2014.
Membership to DHASOL is available to qualifying individuals upon payment of subscription as set by the executive board and reviewed at regular intervals.
The Executive Board will comprise President, Chief Executive, Vice President, Secretary, Treasurer and Five Trustees.
The Trustees shall be elected at the AGM for a term of up to five years and shall be eligible for re-election. They shall be responsible for overseeing the overall well being of Society and shall act in an advisory capacity to support Executive Board and Executive Committee. By virtue of their Trusteeship, the Trustees shall be members of the Executive Board.
Executive Board Kamleshbhai M Patel, Chief Executive Mukund R S Patel , President Pradip K Patel, Vice President Rashmibhai V Patel, Treasurer Mrs Rashmi K Patel, Secretary
Trustees Manharbhai Hirabhai Patel Dinubhai Raojibhai Patel Bhupendrakumar Ambalal Patel Bhaskar Manubhai Patel - retired 18.03.2023 Saurabh Babubhai Patel Mahendrabhai Hiralal Patel - appointed 18.03.2023 Registered Office 12 Petersfield Crescent, Coulsdon, Surrey CR5 2JQ
## Operating address
Nat Nandi 188-190 Kenton Road , Harrow HA3 8BL
## Independent Examiner
Hitendra Naik FCA, Naik & Co, Chartered Accountants 2nd Floor, Dunwoody House, 396 Kenton Road, Harrow HA3 9DH
## Bankers
National Westminster Bank plc Metro Bank Plc
## Dharmaj Society of London
Registered Charity 1070401
- Report of The Management Committee for year ended 15 August 2023
## Aims, Objectives and Activities
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page 2
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The primary aims and objectives of DHASOL shall be to carry out charitable acts for the public good in the UK, particularly in London where most of the Society's membership resides, and in Dharmaj. Its acts shall be guided by the oldest traditions of the Hindu way of life : to promote harmony in community, to support education, to provide care and welfare for the aged, ill, disabled, poor or deprived, and to stage, create or facilitate recreation and social activities for its members Events are organised on regular basis throughout the year that help the society to achieve these objectives which include;
* Annual members’ gatherings - social meet & greet with light entertainment for families and invited guests.
- Dinner Dance and musical events
- * Cultural festivities * Cricket club * Senior Citizen Clubs * Youth events * Barbecues and outings
## Results and review of activities
The results for the year are set out on the annexed pages. The committee is pleased to report upon DHASOL's progress towards achieving our objectives during the year ended 15th August 2023.
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|---|---|---|---|---|---|
|The trustees continue to experience challenging conditions|in resuming normal|operations post Covid-2019 period, more specifically|in organising|
|events and|raising donations.|
|The committee continues to hold regular monthly community events at our "Nat Nandi" Kenton Road centre|i.e.|Senior Citizen Club & Friday Club.|
|The venue|is promoted to the community|for hire for smaller social|functions|etc. There has been an encouraging take up on hire but we need to work|
|harder to achieve higher usage to maximising income potential.|
|Our 2023 AGM was held on|18th March 23 where at annual accounts for 2021|and 2022 were presented for members’|formal approval|
|Bhaskarbhai M Patel|retired from board oftrustees on|18th March 2023 and Mr Mahendrabhai H Patel was appointed to the board simultaneously to|
|replace|him.|
|Hiten Naik|&|Co.,|Chartered Accountants were appointed as reporting accountants|in place ofA P|Smith & Co|
|Members annual|gathering|incorporating Chha Gam communities was held on 23rd July 2023|in presence of|Former Harrow Mayor Cllr. Nitin Parek|
|and C B|Patel|of Gujrat Samachar.|
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Fixed Assets Full disclosures of all matters relating to fixed assets are set out in notes to the financial statements.
## Future Strategy
The society plans to continue on a path of activities as outlined above with an aim of achieving social wellbeing for members and the wider community and target assisting further worthwhile causes that benefit the general population here in the U K and elsewhere We aim to maximise the use of society's new asset base to enhance scope of our social and cultural activities for wider benefit of the community in furtherance of our stated objectives with the involvement and greater participation of younger members.
## seer
7
1 o ’ Dharmaj Society of London Registered Charity 1070401 Report of The Management Committee for year ended 15 August 2023 1 Report of the management committee continued..... page 3 i Reserves 2olicy Z Theand managementto repay bank committeeloan earlier. hasThe establishednotes to athe policyaccounts wherebyexplainunrestrictedmovementsfundsin these are beingreserves. accumulated with the aim of buildingup sufficient reserves to meet contingencies. Investment Policy A ‘ The management committee has concluded that funds be held in a manner that allows higher liquidity and has sought to place surplus funds on short term deposits with established banking institutions in the UK offering best interest rates. Risk Review The management committee has conducted its own review of the major risks to which the charity is likely to be exposed and feels that no major external threats exist. Internal risks are minimised by implementation of procedures of authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the society. The procedures are monitored and periodically reviewed by the trustees to ensure that they continue to meet the society's needs. Trustees Responsibilities The Charities Act requires the trustees to keep proper books of account and prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity and of the results for that year. In preparing these the trustees are required to: - select suitable accounting policies and apply them consistently; - make judgements and estimates that are reasonable and prudent; ' - state whether applicable accounting standards have been followed, subject to any material departures being disclosed and explained in the financial statements: 1 - prepare the financial statements on going concern basis unless it is inappropriate to presume that the society will continue its activities . The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charitics Act 1993.They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ‘ Members of the management committee : Members of the management committee who operate the society are listed on page 1 of the report. Independent Examiner Hitendra Naik FCA of Naik & Co., Chartered Accountants was appointed as an Independent Examiner and his appointment will be re-confirmed at the Annual General Meeting. In the preparation of this report the trustees have taken advantage of the exemptions applicable to smaller charities as conferred by Charities Act 1993. This teport Was approved by the Trustees today and signed on their behalf’ by \ _~ Saypybh hy Dated KSr €/of '
6 { ‘ Dharmaj Society of London Registered Charity 1070401 ry page 4 Independent Examiner's Report on the Financial Statements to the Trustees & Members of Dharmaj Society of London Financial Statements for year ended 15 August 2023 set out on pages 5-10 Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The cnarity's trustees consider that an audit is not required for this year under‘ section 43(2) of the Charities Act 1993 (the 1993 Act) but an independent examination is needed. It is my responsibility to: (a) examine the accounts under section 43 of the 1993 Act, ‘ (b) follow the procedures laid down in the general Directions given by the Charity Commission (under section 43(7)(b) of the 1993 Act, and (c) state whether particular matters have come to my attention. ‘ 7 Basis of independent examination 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 the 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. Independent Examiner's Statement In connection with my examination, no matter has come to my attention 1. which gives me reasonable cause to believe that in, any material respect, the requirements: (a) to keep accounting records in accordance with section 41 of the 1993 Act; and (b) to prepare accounts which accord with the accounting records and comply vith the accounting requirements of the 1993 Act have not been thet ; or s 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ttle. Hitendra Naik, FCA Naik & Co Chartered Accountants . 2nd Floor, Dunwoody House 396 Kenton Road Harrow HA3 9DH Date:303 P. 2f¢ ‘ ‘ A] NLeee
## Dharmaj Society of London
## Registered Charity 1070401
## Statement of Financial Activities
## for year ended 15 August 2023
|||||||page5|
|---|---|---|---|---|---|---|
||||||2023|2022|
||Notes|||£|£|<|
|||Unrestricted||Restricted|Total||
|Incoming resources|||||||
|Incoming resourcesfrom generated funds:|||||||
|Voluntary income|||||||
|Donations&memberships
Taxrefunds
Miscellaneous
Gain onproperty
Activitiesforgeneratingfunds|9||29,033
6,845
4,406
-|0
=|29,033
6,845
4,406
0|85,200
-
1,825
13,500|
|Rent& servicechargesreceived
Facilitieshireout
Barsurplus|||1,893
19,956
3,299||1,893
19,956
3,299|2,048
11,761
1,105|
|Incoming resources from charitable activities:|||||||
|||||||-|
|Social& cultural events|3||6,891|0|6,891|7,495|
|Totalincomingresources||eee
12323
0
72,323
122,934|||||
|Resources expended||ee|||||
|Costs ofgenerating funds|||||||
|Costsofgenerating voluntaryincome|||||||
|Charitable activities|4||58,777||58,777|50,797|
|Total resourcesexpended||SEU|58,777|0|$8,777|50,797|
|Netincomingresources beforetransfers
Transfers||aurea
13,546
0
13,546
12,137|||||
|TotalFundsat16August2022|||746,903|36,058|782,961|710,824|
|TotalFundsat15August2023||=e
760,449
36,058
796,507
782,961|||||
|||=a|||||
The notes on pages 7 to 10 form an integral part of these financial statements
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Dharmaj Society of London
Registered Charity 1070401
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Balance Sheet
as at 15 August 2023
page 6
2023 2022
Notes £ £ £ £
Fixed assets 2 900,073 907,305
Current Assets
Debtors & prepayments 6 0 1,200
Cash at bank 24,627 56,504
Cash in hand 380 2499
25,008 60,203
Creditors: amounting falling
due within one year
Accruals & Other creditors q 1,807 17,683
Subscriptions in advance 5 785 715
2,593. 18,458
Net Current Assets (liabilities) 22,416 41,745
Total assets less current liabilities 922,489 949,050
Creditors: amounts falling due
after more than one year 8 125,982 166,090
Net Assets 796,507 782,960
Represented by :
Unrestricted funds -
General funds 760,449 746,903
Restricted funds
Aarti collections 10 26,258 26,258
Miscellaneous 9,799 9,799
Dharmaj projects 1 0
36,058 36,057
Net Funds 796,507 782,960
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I approve the above balance sheet and the annexed statement of financial activities for year ended 15 August 2023 and authorise it to be presented at the next AGM for members' approval. On behalfof Trustees tC cesecevsceesnesees
The notes on pages 7 to 10 form an integral part of these financial statements
Dharmaj Society of London Registered Charity 1070401
Notes forming part of the financial statements for year ended 15 August 2023
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page 7
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1 Accounting Policies Laks Accounting convention The financial statements are prepared under the historical cost convention
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|---|---|---|---|---|---|---|---|---|---|---|---|
|1.2.|Subscriptions|
|Life membership|fees|are|credited|to revenue|account|in equal|instalments|over ten years|from the date of|receipt.|Annual|
|membership|are|written|off|to revenue account|in year of receipt.|
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13. Donations Received Receipts are accounted for on basis of cash collected during the year. Donations received in foreign currency are converted at exchange rate applicable at time of receipt.
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|1.4,|Tangible|fixed|assets|and|depreciation|
|Depreciation|has been provided|at rates|calculated|to write off|the|cost|or|residual|value of|each|asset over|its|expected useful|life|and has|
|been|reasonably computed|and|consistently|applied|as|follows|:|
|Land|and buildings|not|depreciated|
|Leasehold|properties|not depreciated|
|Fixtures,|fittings|and equipment|25 % per annum on|reducing|balance|
|1.5.|The trustees, who are not professionally qualified trustees, who are not professionally qualified who are not professionally qualified are not professionally qualified not professionally qualified professionally qualified qualified|valuers, are satisfied are satisfied satisfied|that the market valuation as the market valuation as market valuation as valuation as as|at|15 August 2022 August 2022 2022|is not materially not materially materially|
|different|from|the|costs.|
|2|Fixed|assets|
|Land|and|Land and|Plant|Total|
|buildings|buildings|&|
|freehold|leasehold|euilpment|
|£|£|£|£|£|
|Cost|
|At|16 August 2022|878,376|-|62,444|-|940,819|
|Additions|-|-|-|-|0|
|Disposals|=|-|”|0|
|At|15|August 2023|Ce878,376|-|62,444|Ae-|940,819el|
|Depreciation|
|At|16 August 2022|33,515|33,515|
|Charge|for the year|7,232|43232|
|Disposals|-|ns|A|-|-|
|At|15|August 2023|A-|-|40,747EL|-A40,747a.|
|Net|book values|
|At|15|August 2023|878,376|-|21,697|-|900,073|
|Eee|
|At|15|August 2022|etNn878,376|:|28,929|gee-|enacts907,305|
|a|
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1.5. The trustees, who are not professionally qualified trustees, who are not professionally qualified who are not professionally qualified are not professionally qualified not professionally qualified professionally qualified qualified valuers, are satisfied are satisfied satisfied that the market valuation as the market valuation as market valuation as valuation as as at 15 August 2022 August 2022 2022 is not materially not materially materially
different from the costs.
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## Dharmaj Society of London Registered Charity 1070401
## Notes forming part of the financial statements continued.. for year ended 15 August 2023
|||for year endedyear endedended|15 August 2023August 20232023|||
|---|---|---|---|---|---|
|3|Socialand cultural events||||page8|
|||||2023|2022|
||Grossrevenue
£|Unrestricted
£|Restricted
£|Total|Total|
||Musical events
Drama|1,905
-||1,905
3|1975
8|
||Seniorcitizenevents|2,923|-|2,923|390|
||Fridayclub
Barbecue|2,063
-||2,063
-|97
5,234|
|||6,891|-|6,891|7,496|
||Direct expenses|||||
||Annual gathering|||-|-|
||Membership communication|-||-|-|
||Donations toUKCharities|||-|-|
||Musicalevents
Garba|1,740||1,740
-|3,885
-|
||Barbecue|-|-|-|5,435|
|||1,740|-|1,740|9,320|
|4|Total resources expended|||2023|2022|
|||Events|Governance|Total|Total|
||Costs directlyallocatedto activities||£|£|£|
||Eventcosts|1,740||1,740|9,321|
||Support costs not allocatedto activities|||=|%|
||Annual gathering
&AGM||11,594|11,594|-|
||Meetingroomhire||2|-|-|
||Insurance||2,350|2,350|2,541|
||Affiliation fees/contributions||-|-|-|
||Donations -UKCharities||501|501|-|
||Bankcharges||190|190|90|
||Loan interest||1,107|1,107|751|
||Euipment leasing||16,212|16,212|16,451|
||Light&heat||1,842|1,842|3,272|
||Rates& water||L717|L717|522|
||Cleaningandlaundry||6,790|6,790|1,728|
||Repairs||1,665|1,665|844|
||Subscription||-|-|-|
||Independent accountant's fees||-|-|300|
||Computer&web costs||-|-|-|
||Telephone,postage& stationery||4,390|4,390|2,797|
||Legal& professional
Depreciation
Miscellaneous||1,209
7,232
236|1,209
7,232
236|2,384
9,644
151|
||Total resources expended|1,740|57,037|58,777|50,796|
||Funds Applied|||||
||Education& homeless|||||
||Krishna hospital|||||
||Nepaldisasterfundevent|||||
Dharmaj Society of London Registered Charity 1070401
Notes forming part of the financial statements continued.. for year ended 15 August 2023
page 9
## 5 Life membership funds
|||2023||2022|
|---|---|---|---|---|
|||£||£|
||Atstartoftheyear||775|967|
||Subscriptions received inyear||202|-|
||||977|967|
||Annualproportiontransferred torevenue||192|192|
||At endofthe year||785|775|
|6|Debtors & prepayments||||
||Deposits&prepayments|||‘|
||Debtors||-|1,200|
||||-|1,200|
Deposits and payr carried forward to be charged and accounted for against activities anticipated in future.
7 Creditors: amounts falling due within one year
||Other creditors|1,807|17,683|
|---|---|---|---|
|||1,807|17,683|
|8|Creditors: amounts fallingdue aftermore thanoneyear|||
||Members’ loans|85,001|120,001|
||Bank loan|40,981|46,089|
|||125,982|166,090|
Members' loans represent interest free advances by members to assist the society acquire suitable freehold property for own use
Bank loan represents government backed bounce bank loan from National Westminster Bank plc., repayable over ten years starting 23 November 2021.
## Dharmaj Society of London Registered Charity 1070401
## Notes forming part of the financial statements continued.. for year ended 15 August 2023
page 10
## 9 Membership and donations
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|---|---|---|---|---|---|---|---|---|---|
|2023|2022|
|Unrestricted|Restricted|Total|Total|
|£|£|£|£|
|General|donations|-|-|85,003|
|Donations|-|special|28,841|28,841|5|
|Life membership|192|192|192|
|Directory advertisements|-|:|.|
|Aarti|collections|=|=|-|
|29,033|-|29,033|85,200|
|Aarti|Collections|(Navratri)|
|Aarti|collections|at annual Navratri|festivals have been considered|as donations|for restricted|activities|
|Funds held at the beginning|of|the year|26,258|26,258|
|Funds collected during the year|iz|
|Funds|applied|during the year|.|Ss|
|Funds held|at the|end of|year|26,258|26,258|
|The|trustees have an|absolute|discretion|in|choosing a suitable|cause|to apply accumulated|Aarti|funds.|
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## 10 Aarti Collections (Navratri)
## 11 Trustees remuneration & related party transactions
Dhasol trustees and committee members provide services to the society on voluntary basis and do not claim reimbursement for incidental travel and other out of pocket expenses performance of their duties for the society.
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year
a ee