Dharmai Society of London Registered Charity 1070401 Statement of accounts For year ended 15 August 2024 Contents Page Legal and adn]inistrative inforn]ation Report of the management committee Independent Accountants, Report Statement of fmancial activities Balance sheet Notes forniing part of the accounts 7-10
Dhamaj Society of London Registered Charity 1070401 Legal and administrative infornMtion page I ststus Dharmaj Society of London (DHASOL) is a regi51ered charity, regislered with The Charity Commission for England & Wales since 6th July 1998. DHASOL was established as a members oiganisation 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 PresidenL Chief Executive. Vice President. Secretary, Treasurer and Five Trustees. Thc Trustees shall ¢lec(ed at the AGM for a term of up to five years and shall be eligible for re-election. They shall be responsibl¢ 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 Truslees shall be members of the Executive B0d. Executive Board Kamleshbhai M Patel. Chief Executive Mukund R S Patel , President Pradip K Patcl. Vice Presidcnt RashTnibhai V Patel, Treasurer Mrs Rashmi K Patel, Secretary Trustees Manharbhai Hirabhai Patel Dinubhai Raojibhai Patel Bhupendrakumar Ambalal Patrl Saurabh Babubhai Patel Mahendrabhai Hiralal Patel 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 Accounw]ts 2nd Floor. Dunwo(MJy Hous¢. 396 Kenton Road. Harrow HA3 9DH Bankers National Westminster Bank plc Metio Bank PIC
Dharniaj Society of London Regisiered Charity 1070401 Report of The Management Conunittee for year ended 15 August 2024 page Aims, Objectives and Activiti 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 harn]ony in community. to support education. to provide care and welfare for the aged. ill. disabled, poor or deprived, and to stage, create or facilitatr recrcation 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 fesiivities * 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 objextive5 during the year ended 15th Augu 2024. The Irustees continue to experience challenging conditions in resuming norn1 operations post Covid-2019 period. more specifically in organising events and raising donations. The cottllnitlee continues to hold regular monthly cotnrnunity events at our "Nat Namdi" Kenton Road centre i.e. Senior Citizen Club & Friday Club. The venue is promotrd to the community for hire for smaller social functions etc. There has been an encouraging take up on hire but we need to work hard¢r to achieve higher usage to maximising income potential. Our 2024 AGM was held on 14th August 24 where at annual accounts for 2023 were presented for members, forn]al approval Hiten Naik & Co.. Chartered Accountants were re¢OnfMed as reporting accountants for 2024 Fixed Assets Full disclosures of all matters relating to fixed assets are set out in notes to the fmancial statements. Future Strategy The socicty plans to continue on a path of activities as outlined above with an al of achieving social wellbeing for members ani the wider comtnunity 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 ellI1cC scope of our social and cultural activities for wider benefit 0£ the community in furtherance of our stated objectives with the involvernent and greater participation of younger members.
DbarnJ Society of London Registered Charity 1071)401 Report of The Management Conllnittee for year ended 15 August 202A Report of the rnanagernent committee continued..... Reserves Policy The Tnanagement comtnitt¢e has established a policy whereby unrestricted funds are being accumulated with the aim of building up sufficient reserves to tneet contingencies and to repay bank loan earlier. The notes to the accounts explain movements in thcse reserves. page 3 Investment Policy The management conunittee has concluded that funds be held in a manner that allows higher liquidity and has sought to place surplus funds on short temi deposits with established banking institutions in the UK offering best interest rates. Risk Review The management committee has conducted ils 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 transaclions 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 societv's needs. Trustees ResponsibiIities The Charities Act requires the trustees to keep proper books of account and prepare financial statements for each financi, 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 - prepare the financial statements on going concern basis unless it is inappropriate to presume that the society will 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 financAal statements comply with the Charities Act 1993.They are also responsible for safeguarding the assets of the Chlty and hence for taking reasonable steps for tTr prevention and detection of fraud and othet irregularities. Members of the mallagement committee Members of the management committee who operate the society are listed on page l of the report. Independent Examiner Hiten Naik & Co., Chartered Accountants were reconfImied &s reFK)rting accountants for 2024 In the preparation of this report the trustees have taken advantage of the exemptions applicable to smaller charities as This re as approved by the Trustees today and signed on their behalf by Truslee Dated 17
Dharmaj Society of London Registered Clwity 11170401 page 4 Independenl Examiner's Report on the Financial Statements to the Trustees & Members of Dharnraj Society of London Financial Statements for year ended 15 August 2024 set out on pages 5-10 Respective respoTrsibilities of trustees and examiner The charity's trustees are responsible for th¢ preparation of the accounis. The charity's trustees consider that an audit is Thot 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 ACL (b) follow the procedures laid down in the general Directions given by the Charity Commission (under section 41(7)Ih) nf thp. 1993 Ae.t. Ana (c) state whether particular matters have corne 10 my allention. 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 ltell or disclosures in th¢ accounts, and seeking explanations frorn the trustees concerning any such matters. The procdures undertaken do not provide all the evidence that would be required in an audiL 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 statemeni below. Independent EmIner'S Statement In connection with my examination, no matter has come to my attention . which gives me reasonable cause to believe that in. any material respecL the requirements. (a) to keep accounting records in accordance with 5¢ction 41 of the 1993 Act; and (b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act have not been met . or 2. to which. in my opinion, att¢Thtion should be drawn in order to enable a proper understanding of the accounts to be reached. Hitendra NaiK FCA Naik & Co Chartered Accountants 2nd Floor. Dunwoody House 396 Kenion Road Harrow HA3 9DH Date: J-
Dharmai Society of IA)Ddon Regred Charity 1071)401 Statement of Financial Aetivities ror year ended 15 August 2024 page 5 2023 2024 Notes Incoming resourcos Ineoming resources from generated funds: Voluntary ¢ncom* Donations & memberships Tax refunds Miscellaneous Gain on property Activiiiesfor generaiingftsnd5 Ren[ & seryice charges received Facilities hire out Bar surplus UeStrIcted Restricted Total 4.780 4,780 29.033 6,845 4,406 949 12,356 3,344 949 12.356 3,344 1.893 19.956 3.299 Incoming resources from charitable activities: Social & cultural events 9.011 9.011 6,891 Tal incoming resources 30.440 30,440 72,323 Resources expellded Costs of generating funds Costs of generating voluntary incon Charitable aetivitios 41.766 41.766 58,777 Toial resources expended 41.766 41.766 58.777 Net ineoming resources before transfers Transfers Total Funds at 16 August 2011 -11.326 -11,326 13.546 760,449 36.058 796.507 782,961 Total Funds at 15 August 2024 749,123 36,058 785.181 796,507 The notes on pgges 7 to 10 forni all integral part of thtse fuwicial statrments
DharnJ Society of London Rewstered Charity 1070401 Balance Shttt 05 at 15 Augiist 2024 page O 2024 2023 Not Fixed a55ets 894.649 900.073 Current A&8ets Debtors & prepayments Cash at bamk Cash in hand 10.697 1.320 24.627 380 12.017 Creditors: amounting falling due within one year Accruals & Other creditors Subscriptions in advanc¢ 1,81r7 785 739 739 2.592 Net Current Assets (liabilities) 11.278 22.415 Total ets less ¢llellt liabilities 5.927 922.488 Creditors: amounts falling due after more than on¢ year 120.746 125.982 Net Assets 785.181 796.506 RePrented by . Unrestricted funds General funds 749.123 760.449 Restricted fund5 Adrti collections Miscellaneous Dharniaj projects io 26,258 9.799 26.258 9,799 36.059 36.057 Net Funds 785.181 796,506 l appro presell e aboye ba ce shcct and thc annexed statellLi of financial 1VIlle$ for year ended 15 August 2024 and authorise it to be or rnellhlKrs' approval. f of Tnt Tbe notrs pages 7 to io foTm an inte1 part of these statements
DarnJ Society ofL•ndon Registered Charity 107(fvIOI Notes foTJniDg pArt dthe financial slaternents for year ewled 15 AuEll 2024 Accounting Polities Accounting Convention The fLnanciaJ staLements arc prepaTed un4kr the historical cosi ronvetltion Sub5criptioDs Life membership fees are ¢rcdited io r¢venue acttyuni in equal in5th¢ois ovcrtcn years frrmn tbe dare of tipL Annual membcrship are Written off torevenue aeeount in year of RceipL Donations Reteived Receipts are accounted for on b*515 of ¢olkcted during the pi. I1n$ Trccived in foTCiStt CUttEncy are converted * exchange raie applicablt at of receipL Tanglble red 45sets and depreciation DEPlatIon has ell Provid at ¢5 Laiculat¢d 10 Ti Otrthe c051 ¢x re5iduat value of each ovu its useful life and has been asonablY computed eonsisienily applied as follow5= Land and buildings t£as¢hold properties Fixiures, fittings and eqllipment depre£iated depreciated 25 * per annum OD thcin8 ba]a]](r The tTUSLees, who aR not professionally qualifKd valuct5, are saiisfied the markd valuaLion as 81 15 Augllst 2024 is not materially dtffercnt fTOm the co%15. Ftsed buiJding5 freehold bvlldkngs leA5ebold euipment At 16 August 2023 Additi¢)ns DIs[al3 AI 15 AUEUSI 2024 878,376 62.444 940.819 878.376 62,444 940.819 Depreciation At 16 Augll$i 2023 Charge for the year Dispisa15 At 15 August 2024 40.747 5,424 40.747 5.424 46.171 46,171 Net book vAlues At 15 August 2024 878,376 16,273 Ai 15 August 2023 878.376 21.697 9(K).073
Dharnj Society of London Regis¢ered Charity 11171)401 k Otts forming part otthe r]nanciaL statements eontitiue. for year ended 15 August 2024 poge 8 Social and cuityral events 2024 2023 Total Gross reyenue Unrestricted RestricwL Musi¢al events Drama Senior citizen events Friday club Barbecue 1.043 1.043 1.775 5.993 1,975 5.993 1.975 390 97 5.234 9.011 9.011 7.496 DArect expenses Annual gathering Membership ConllnunicIOll Donauons to UK Chariiies Musica] events Garba Barbecue 3.885 5,435 9.320 Total r¢source5 expended 2024 Tothl 2023 Totsl Events Costs directly allocated to activities Event costs Support CQsrs noi allocaied to activitie5 Annual gathering & AGM Meeting ri)om hire Insurance Affiliaiion feesl con(ributions Don2ti0ns- UK Chan"ues Bat]k c]wges LA)an interest Euipment leasing Light & heat Raies & water Cleaning and laundry Repairs Subscription Independent accountant's fee5 Computer & web costs Telephone. [Stage & stAti(ery L£8al & professio11 Depreciation Mis¢clloneous 9.321 2,544 2.541 105 980 16.212 1.678 465 6.934 1861 105 980 16.212 1.678 465 6,934 2,861 90 751 16.451 3,272 522 1.728 844 300 1.855 2.708 5.424 1.855 2.708 5,424 2.797 2.384 151 Totsl resources expcndcd 41.766 41.766 50,796 FuD(Ls Applied Education & bomeless KriJtLnu hvopiLul Ncpal disaster fund event
Dharmaj Society of nd0 Registered Clwity 1070401 Notes forming part oftbe r]naDcial Statements colltitwe for year ellded li Aug$1 2024 pqge 9 Life membership fuD 2024 2023 At start of the year Subscriptions received in ycar 785 101 775 202 886 147 977 192 Annual proponion trnnsferred to Tevenue Ai end of the year 739 785 Debtors & prepayrnents Deposits & prepayments Debtors Deposits and payrcarried lotward be ¢harged and accounted for against activities anticipai&l in futll. Credltors: arnouDts falliug due within one year Other creditor5 1.807 1.807 Creditor5: aTnounts falling due thr more tlwi one year Members, loans Bank loan 85.(K)I 35.745 85.1 40.981 120.746 125,982 M¢mbers' loans tepre5cnt nterest free advan by to a5SiSt the lety acquire suitable fTeehoid property for own use Bank loan represents govenjmellt backed bank IoaT] from N*ional Westi151 Bank plc., wayable over years starting 23 Novrmber 20?1.
Dhartnaj Society of London Registered Clwity 1070401 Notes fornjing part of the financial statements conttDue ror year ended 15 August 21)24 poge 10 Melnbership and donations 2024 2023 unstricd R&stricted Total Toial General donations Donations- special Life membership 4,633 147 4.633 147 28.841 192 Directory advertisemeThts Aarti collections 4.780 4.780 29,033 10 Aarti Collectlons (Navratri> Aarti collections at annual Navrdtii festivals have beeTh cottsidered Is donions for restricted activities Funds held at the beginning of the year Funds collected during th¢ ycar Funds applied during the year 26.258 26.258 Funds held at the end of year 26,258 26,258 The trustees have an absolute discretion in chiKlg a Slable cause to apply acCuMukt AaAi funds. 11 Trustees remuneration & related party transactions Dhasol tsustees affld committee membets provide scrvices to the society on voluThtsry basis and do claim reimbursement for incidental travel and other out of pocket expenses paforn]ance of their duties for the Ady. No trustee or other person related to the charity had any t031 itlierest any contract or Irdnsaction entered inio by the chority during the