Charity Registratlon No. 1071440 Company Reglstratlon No. 034914211England and Wales) SAMANVAYA PARIVAR LONDON LIMITED (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
SAMANVAYA PARIVAR LONDON LIMITED (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr B S Joshi Mr H G Thakkar MrA M Patel MrA K Patel Mr P Pvakil Charlty number 1071440 Company number 03491421 Prlnclpal address Milton Road Harrow Middlesex HA1 1XB Registered offlce 1 Vvamer House Harrovian Business Village Be5sborough Road Harrow Middlesex HA13EX Independent examlner MCT Partnership LLP Chartered Accountants 1 Wamer House Harrovian Business Village Bessborough Road Harrow Middlesex HA13EX Bankers Barclays Bank PIC 111 High Street Bedford MK40 1 NJ CAF Bank Limited 25 Kings Hill Avenue Vlest Malling Kent ME19 4JQ
SAMANVAYA PARIVAR LONDON LIMITED (A COMPANY LIMITED BY GUARANTEE) CONTENTS Page Trustees, report Independent examinerfs report Statement of financial activities Balance sheet Noles to the financi81 statements
SAMANVAYA PARIVAR LONDON LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their annual report and financial statements for the year ended 31 Dember 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial ststements and comply with the charity's Memorandum and Artides of Association, the Companies Act 2006 and "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 2019)". Objecllves and activities The charity is a company limited by guarantee. The charitys objects are to advance the Hindu religion and in particular the teachings of the Late Swami Shree Satyamitranand and to give and re1ve spiritual guidance. To achieve this the charity promotes religious, soaal and cultural activities throughout the year by organising weekly prayer meetings together with religious festivals. There has been no change to these policies during the year. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The centre has continued to provide facilities for the religious and cultural expression of Hinduism. This includes facilities for prayer, religious festivals and research for those wishing to advance their spiritual knowledge. Part of the building owned by the charity has been let to third parties. this provides an additional source of funding. Future plans It is the strategy of the trustees to continue to develop and improve the charity's facilities for worship for the foreseesble future. The trustees will also direct energy and resources towards the advancement of culture and religion. The trustees will continue work on developing a library, providing religious and cultural books and materials. The aim of the trustees is to combine access to a library with the provision of classes to encourage the greater involvement and advancement of the younger generation. Public beneflt The principle activities of the charity during the year continued to promote the Hindu religion and in particular teachings of Swami Shree Satyamitranand. The trustees are aware of the Charity Commission guidance on public benefit reporting as set OLrt in Section 4 Charities Act 2011. The trustees believe that the charity achieves a public benefit by providing these services as detailed in the 'Objectives and activities, section of this report. Flnanclal review and reserves policy It is the policy of the charity that unrestrided funds which have not been designated for a specific use should be maintained at a sufficient level to ensure that, in the event of a significant drop in funding, the trustees will be able to continue the charity's current activities whilst consideration is given to ways in which additional funds may be raised. This level of reserves has been sufficiently maintained throughout the year. ReseNes as at 31 December 2023 amounted to £1,644,262 (2022: £1,624,904). This includes fixed assets with net bt)ok value of £1,117,058 (2022: £1,117.089} leaving free reserves of £527,204 {2022'. £507,815). The trustees believe that these funds will be sufficient in meeting the charity's future needs.
SAMANVAYA PARIVAR LONDON LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Risk factors The trustees activety review the major risks facing the charity throughout the year. Procedures have been established for identifying significant risks and developing and implementing strategie5 to mitigate such risks. structure. governance and management The trustees. who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Mr B S Joshi Mr H G Thakkar MrA M Patel MrA K Patel Mr P P Vakil None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute a surn not exceeding £1 in the event of a winding up. A Board of Trustees of at least 3 members, who meet at frequent intervals during the year, administers the charity. New trustees can be appointed by proposal and the subsequent vote of existing members. All members are given the opportunity to vote with regard to rtrelectiorappolntrnent and may do so in person at the Annual General Meeting or by post if unable to attend. Investment powers Under the Memorandum and Articles of Association. the charity has the power to make any investment which the trustees deem fit. Statement of Trustees. responsibilities The trustees, who are also the directors of Samanvay8 Parivar London Limited for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the truste8S to prepare financial statements for each financial year whith give a true and fair view of the state of affairs of the charity and of the incoming reSoUrS and application of resources, including the income and expenditure, of the charitable company for thal year. In preparing these finanaal ststements, the twstees are required to: select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP" - make judgements and estimates that are reasonable and pwdent" stste whether applicable UK Accounting Standards have been followed, subject to any material departures disdosed and explained in the financial statements- and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disdose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. 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.
SAMANVAYA PARIVAR LONDON LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees. report was approved by the Board of Trustees. Mr B S Joshi Trustee Dated: 25 September 2024
SAMANVAYA PARIVAR LONDON LIMITED (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SAMANVAYA PARIVAR LONDON LIMITED report to the trustees on my examination of the financial statements of Samanvaya Parivar London Limited (the charity) for the year ended 31 December 2023. Responsiblllties and basis of report As the trustees of the charity (and also its directors for the purposes of company law} you are responsible for the preparation of the financial statements in accordance viith the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial slatements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examlnerfs statement I have completed my examination. I confinn that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act. or the financial statements do not accord with those records,. or the financial ststements do not comply viith the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter consided as part of an independent examination. or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). I have no concerns and have come across no other matters in connection wtth the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Sundeep Wisana FCA for and on behalf of MCT Partnership LLP Chartered Accountants 1 Wamer House Harrovian Business Village Bessborough Road Harrow Middlesex HA13EX Dated: 25 September 2024
SAMANVAYA PARIVAR LONDON LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Unrestrictsd funds funds 2023 2022 Notss Donations and gifts Charitable activities Investments 19,400 24,008 900 26,607 29,895 Totsl income 49.295 51,515 Direct expenses 14,227 21,422 hari Donations Core religious and spiritual activities ivities 5,929 9.781 43,254 18,133 Totsl charitable exp•ndlture 15.710 61,387 Total resources expended 29,937 82,809 Net incomellexpenditure) for the yearl Net movemont In funds 19,358 {31,294) Fund balances at 1 January 2023 1,e24,904 1,656,198 Fund balances at 31 Decgmber 2023 1.644,262 1,624,904 The statement of financial activities includes all gains and losses recognised in the year. The statement of financial aclivities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
SAMANVAYA PARIVAR LONDON LIMITED (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Notes Flxed assets Tangible assets 12 1,117,058 1,117,089 Current assets Stock Debtors Cash at bank 13 14 2,920 3.475 527.409 3,000 3,883 505,932 533,804 512,815 Credltors: amounts falllng due wlthln one year 15 (6.600) (5,000) Net current assets 527,204 507,815 Total assets less Current liabiliti8S 1,644.262 1,624,904 Income funds Unrestricted funds 1,644.262 1,624,904 The Company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023. The directors acknowledge their responsibilities for complying with the requirements of the Comparmes Act 2006 with respect to accounting records and the preparation of financlal statements. The rnembers have not required the company to obtain an audit of its financial statements for the year in question in accordance with Section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subjed to the small companies regime. The financial ststements were approved by the Trustees on 25 September 2024 Mr B S Joshl Trustse Company Reglstrdtion No. 03491421
SAMANVAYA PARIVAR LONDON LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles Company information Samanvaya Parivar London Limited is a private company limited by guarantee incorporated in England and Vlale5. The registered Offi is 1 INamer House, Harrovian Business Village, Bessborough Road, Harrov4 Middlesex. HA13EX. 1.1 Accounting conventlon The financial statements have been prepared in accordance with the Companie5 Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. ("FRS 102°) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Prath"ce 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 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statanent of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention. modified to include the reva]uation of freehold properties at fair value. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees conb.nue lo adopt the going concem basis of accounting in preparing the accounts. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. 1.4 Incoming resources Incoming resources are reported gross. Incoming resources from charitable activits.es and investment income are recognised when amounts can be measured reliably and it is probable that the income will be received. Income tax recoverable in relation to donations received under Gfft Aid or deeds of covenant is recognised at the time of the donation. 1.5 Resources expended Charitable expenditure comprises of all expenditure incurred in meeting the charitable objects. Expenditure is recognised in the period in vthich its incurred. Expenditure includes VAT which cannot be recovered.
SAMANVAYA PARIVAR LONDON LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng policles (Contlnued) 1.6 Tangible red assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impaiment losses. Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows. Fixtures. fingS and equipment 15% reducing balance No depreciation has been provided on the property on the basis that the estimated residual value would be higher than the current cost. 1.7 Stock Stock is stated at the lower of cost and estimated selling pri less costs to complete and sell. Cost comprises of finished books. 1.8 Flnancial Instruments The ch8rity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charivs balan sheet when the charity becomes party io the contradual provisions of the instrument. Basic financlal assets Basic financial assets, which include debtors and bank balances, are initially measured at transaction price induding transaction costs and are subsequently carried at amortised cost using the effective interest method unless the aangement constitutes a financing transacts"on, vthere the Iransaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets dassified as receivable within one year are not amortised. Derecognltion of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled. or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and revRrds of ownership are retained but control of the asset has transferred to another paty that is able to sell the asset in tts entirety to an unrelated third party. Baslc financial liablllties Basic financial liabilities are initially recognised at transaction pri unless the arrar¥Jement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year a not amortised. Derecognltlon of financlal Ilabilitles Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.
SAMANVAYA PARIVAR LONDON LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Crltical accounting estimates and judgements In the application of the charty's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects cnly that period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from donations and legacles Unrestricted funds 2023 Unrestricted funds 2022 Donations and gifts 19,400 24,008 Charitable actEvlties Membershlp Membership fees and fees and subscrlptions subscrlptions 2023 2022 Incoming resources within charitable activities 900 Income from investments Unrestrlcted Unrestrlcted funds funds 2023 2022 Rental income Interest ceIv2b1e 25,720 4,175 25,720 887 29,895 26,607
SAMANVAYA PARIVAR LONDON LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Raising funds 2023 2022 Direct nses Other trading activits-es 14,227 21,422 Charltable activltles Donations Core religious and spiritual activltles Totsl Donations Core rellglous and splrltual activitles Total 2023 2023 2023 2022 2022 2022 Depreciation and impairment Donations Rates Insurance Light and heat Repairs and maintenance Postage and stationery Telephone Sundry expenses Bank charges Books 31 31 5.929 (5,018) (5,018) 1,600 1,600 4,090 4,090 36 36 43,254 1,237 1,548 6,990 5,929 43,254 1,237 1,548 6,990 8.434 8,434 4,800 4,800 110 463 258 131 2,560 110 463 258 131 2,560 521 521 123 123 5,929 9.781 15,710 43,254 18,133 61,387 Net movement in funds 2023 2022 The net movement in funds is stated after chargingl(crediting): Depreciation of ovmed tangible fixed assets 31 36 Employees The average monthly number of employees during the year was: 2023 Number 2022 Number Total 10-
SAMANVAYA PARIVAR LONDON LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 10 Trustees None of the trustees (or any persons connected with them) reiVed any remunerdtion during the year. 11 Taxatlon The charitable company is exempt from corporation tax on its charitable activities. 12 Tangibl• fixed assets Fr8•hold Flxtures, land and flttings and buildings equlpment Total Cost or valuation At 1 January 2023 1,116,883 5,922 1,122.805 At 31 December 2023 1,116,883 5,922 1,122.805 Depreclatlon and impalrnient At 1 January 2023 Depreciation charged in the year 5.716 31 5.716 31 At 31 December 2023 5,747 5,747 Carrylng amount At 31 December 2023 1,116,883 175 1,117,058 At 31 December 2022 1,116,883 206 1,117,089 On an historical cost basis land and buildings would have been included at an original cost of £738,725 (2022- £738,725). 13 Stock 2023 2022 Goods for resale 2,920 3,000 14 Debtors 2023 2022 Amounts falling due wlthln on• year: other debtors 3,475 3,883 11
SAMANVAYA PARIVAR LONDON LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 15 Credltors: amounts falling due withln one year 2023 2022 other creditors Accruals 5,000 1.600 5,000 6,600 5,000 16 Sharè capltal The company is limited by guarantee, not having a share capitsl divided into shares. In the event of the company being Und up, every member undertakes to contribute a sum not exceeding £1. 17 Unrestricted funds The unrestricted fijnds of the charty comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to h¢xv they may be used. At 1 January 2023 Incoming resources Rèsources expended At31 December 2023 General funds 1,624,904 49,295 (29,937) 1.644,262 Previous year: At 1 January 2022 Incoming resources Resources expended At31 December 2022 General funds 1,656,198 51,515 (82,809) 1.624,904 18 Capital commltments At the balance sheet date, the trustees of the charity are Committed to spending £300,000 on an extension to the existing freehold building in which the charty conducts its normal activities. 12-