RECISTERED CHARITY NUMBER: 1071867 REPORT OF THE TRUSTEES AND FINANCIAL STATEMEIYTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR SHREE JAIN SANCH EAST LONDON AND ESSEX Prestons Chartered Accountants 364-368 Cranbrook Road Gants Hill Iirord Essex IG2 6HY
SHREE JAIN SANGH EAST LONDON AND ESSEX CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Page Report of the Trustees Independenl Euminer's Report St*temeDt of Financial Activities Balance Sheet Notes to the Finaneial Statements 7 to 12 Detslled StAtement of FfinAneial Aetivltiej 13 to 14
SIIREE JAIN SANGH EAST LONDON AND ESSEX REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Th¢ trustees pr¢sent ihcir report with the financial statements of th¢ charity for the year ended 31 D¢cemkr 2023. The trustees have adopt¢d the provisions of Accounting and R¢porting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts An accordance with the Financial Reporting Standard applicabl¢ in the UK and R¢public of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTivrrIES Objectives And aims Th¢ principal activity of the charity continued to be ensuring the needs of the people within the community. promoting religious. cultural, sports and charitable activities with the community. The organisation is run by a commillee elected on a bi annual general meeting and is guided by the trustees. l) Charlty's mafin aims are as follows:. a) Other General charitable purposes b) Overseas Aid and Famine Relief ¢) Religious Activities d) Arts and Culture ¢) Sports and Recreations fj Animal Welfare g) EnvironmenL conservation and heritage 2) Tbe charlty works for:_ a) Children and Young People b) Elderly and Old People c) Other charities and voluntary bodi¢s d) General Publi¢ and mankind. Publlc beneflt l) To promote Jainism which advocates non-violence, goodwill towards all mankind, animal welfare and vegeterianism. 2) To organi5e social, cultural and religious functions surrounding the aspects named above. 3) To promote physical activity and encourages special interest groups like women and youth to come together and network. 4) To conducl religious diourSeS and prayers with emphasis on respect for the elderly. Page I
SHREE JAIN SANGH EAST LONDON AI¥D ESSEX REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 ACHIEVEMENT AND PERFORMANCE Charitable attivities Shree Jain Sangh East London & Essex is a community based in E&8t London that aims to promote Jainism and its fundamental values. The community is run purely by volunteers, who are selected through elections every 2 years. Throughout 2023 we held a number of in-p¢rson and virtual events, which consisted of religious celebrations and social events. All of our events aim to fulfil the Charity's objectives of promoting Jainism and building a community. Each year, we aim to increase the number of community members that attend events &8 well as in¢re&se the number of members who are a part of the community. To a¢hieve this, we have different types of events to attract different demographics frorn within the community. In 2022, the Executive Committee was given a mandate to put a property owned by the Charity on rent. In 2023 this was achieved and we have since started to receive regular rental income, which will enable the Charity to grow further and to fulfil its ambitions for the future. For 2024. the aims for the Executive Committee are to maintain the current levels of tumout at a bare minimum and to continue improving the types of events we are putting on to engage more members of our comlnunity on a regular basis. FINANCIAL REVIEW Financial position he financial statements have been prepared implementing the Charities SOPR (FRSI 02) "A¢¢ounting and Reporting by Charities: Statement of Recommended Pra¢tice applicable to charities preparing their accounts in accordance with the Financia1 Reporting Standard applicable in the UK and Republic of Ireland (FRS102) ¢ffe¢tive l J8nu&ry 2019. The Statement of Financial Activities show net incoming resources for the year of £38.764 (2022., £22,020) and net outgoing resources of £22,784 {2022: £10.782), making net incoming resources of £15,980. (2022: £11,238). The total reserves at the year end stood at £597,321 (prior year £581,341), of which £60,331 (2022: £49,163) was restrictsd. Free unrestricted reserves arnounted to £1 8,141. (2022". £16,736) Reserves poliey The Charity carries out a variety of both long tenn and short tern] projects, and the Trustees have examined the requirements for free reserves and the Trustees believe it to be insufficient and are considering ways in which the additional funds can be raised. FUTURE PLANS For 2023. the aims for the Executive Committee are to continue with regular events, improve youth involvement and find a tenant for the Community buildin STRUCTURE, GOVERNANCE AND MAIYAGEMEIYT GoverDing document The charity is controlled by its governing document, a deed of trst and constitutes an unincorporated charity. Page 2
SHREE JAIN &INGH EAST LONDON AND ESSEX REPORT OF THE TRUSTEES FOR THE YEAR EI¥DED 31 DECEMBER 2023 REFERENCE AND ADMINISTRATIVE DETAILS Re%istered CharAty number 1071867 PrlDclpal dro1 15 Selwyll Avenue nford IG3 8JP Trnileej Mr Ssar Harish Mehta Mr NiThllsh Shah Mr Geeta Mehla Mr Priyesh Harish Mehta Mr Karan Jite8b Shah . Re8igned in September 2024 Independent Exarnlner war Patel BA(Hon8) BFP. FCA Prestons Chartered Accountants 364-368 Cranbrook Road Gants Hill Ilford IG2 6HY Approved by Lyder of the board of truslea on ............... ...... ..................... And Signed on its behalf by: Trustec S1411 Pagc 3
INDEPENDENT KXAMINER'S REPORT TO THE TRUSTEES OF SHREE JAIIY SANGH EAST LONDON AND ESSEX Independent examiner's report to tbe trustee$ of Shree JaiD SaDgb East London Essex I report to the charAty trustee5 on my ¢xaniination of the accounts of Shree Jain Sangh E&st London and Essex (the Trust) for the year ended 31 December 2023. Responsibilities and bgsis of reporl As the charity trustees of the Trust you are responsible for th¢ preparation of the accounts in accordance with the requirements of the Charities Act 2011 (%he Acf). I report in respect of my examination of the Trust's accounts carried oul under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145{5)(b) of the Act. Independent mIner's statemeDt I have completed my examination. I ¢onfirni that no material rnatters have come to my attenlion in Connection with the examination giving me cause lo believe that in any material respect: accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or the accounts do not accord with Ih05e records. or the a¢¢ounts do nol comply with the applicable requirements concerning the forni and content of accounls set out in the Charities (Accounts and Reports) Regulalions 2008 0lh¢r than any requirement that the accounts gAve a true and fair view which is not a matter considered as part of an independent examination. I have no Concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. . PAIe- Anwar Patel BA(Hons) BFP, FCA Prestons Chartered Accountants 364-368 Cranbrook Road Gants Hill Ilford Essex IG2 6HY Date: . Page 4
SHREE JAIN SAIYGH EAST LONDON AND ESSEX STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 31.12.23 Total funds 31.12.22 Total funds Unrestricted Restricted funds fund Notes INCOME AND ENDOWMENTS FROM Donations and legacie5 3,956 3,956 9.144 Other trading activities Investment in¢om¢ 5J66 10.641 18,676 125 24,042 10,766 12,876 Total 19,963 18,801 38.764 22.020 EXPENDITURE ON Charitable aetivities charitable activities 15,151 7,633 22.784 10,782 NET INCOME 4,812 11,168 15,980 11.238 RECONCILIATION OF FUNDS Totsl funds brought forward 532,178 49,163 581a41 570,103 TOTAL FUNDS CARRIED FORWARD 536,990 60?31 597J21 581,341 The notes forn] part of these financial statements Page 5
SHREE JAIN SAIYGH EAST LONDON AND ESSEX BALANCE SHEET 31 DECEMBER 2023 31.1223 31.12.22 Notes FIXED ASSETS Tangible assets 515,442 5l5.442 CURRENT ASSETS Debtors 4,400 106J04 4.400 62,199 110,704 66,599 CREDoRs Amounts fal]ing due within one year (28025) (700) NET CURI1 ASSETS 81179 65.899 TOTAL ASSETS IISS CUiiR LWiUThS $97J21 581,341 NET ASSETS S97J21 581.341 11 Unrutricted fimds: 1&140 518050 16,736 515,442 532,178 Rcstrieted fimd8: Restricted FuDd8 60J31 49,163 TOTAL FUNDS 597J21 581.341 1 Statem4 w¢r¢ approved by the Board of Tnths and authoTi8¢d for issue on o)hèh(t....... and were std on its l%half by: Tnlee AH• The Dotes forni part of these fuka1 statements Page 6
SHREE JAIN SAIYGH EAST LONDON AND ESSEX NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES Basts of preparing the finaneial statements The financial statements of the charilyy which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'A¢¢ounting and Reporting by Charities: Stalement of Recommended Practice appli¢able to Charities preparing their accounts in a¢cordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statemenl of Financial Activities once the charity has entitlement to th¢ funds, it is probable that the income will be recelved and the amount can be measured reliably. Expendlture Liabilities are recognised as ¢xp¢nditure as soon as there is a legal or constructive obligation Committing lh¢ charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation ¢an be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the Category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tanglble flxed assets Depreciatlon is provided at Ihe following annual rates in order to write off each asset over its estimated useful life. Taxation The charity is exempt from tax on its charitable activities. Fund accountlng Unrestricted fund5 can be used in accordance with the charitable objectives at the discretion of the trusttts. Restricted funds can only be used for particular restricted purposes within the objects of the chaTiIy. Restrictions arise when specified by ihe donor or when funds are raised for particular r¢stri¢ted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Page 7 continued...
SHREE JAIN SANGH EAST LONDON AND ESSEX IYOTES TO THE FINANCIAL STATEMENfs - continued FOR THE YEAR ENDED 31 DECEMBER 2023 OTHER TRADING ACTIVITIES 31.12.23 31.12.22 Dev Dhravya Bhagini Mandal Jiv Dhaya Other Jncome 12,740 3,227 1,721 6,354 5,157 275 2,277 5,167 24,042 12,876 INVESTMENT INCOME 31.12.23 31.12.22 Rents received 10,766 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneralion or other benefits for the year ended 31 December 2023 nor for the year ended 31 D¢c¢mber 2022. Trusteej, expenses There were no trustees, expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES 31.12.22 Unrestricted Restricted funds fund Total funds INCOME AND ENDOWMEIYTS FROM Donations and legacies 9,144 9,144 Other trading activities 4,567 8,309 12,876 Total 13,711 8,309 22,020 EXPENDITURE ON Charitable activitks charitable activities 10,782 10,782 NET INCOME 2,929 8,309 11,238 RECONCILIATION OF FUNDS Total fund3 brought forward 529,249 40,854 570,103 Page 8 continued...
SHREE JAIN SANGH EAST LONDON AND ESSEX IYOTES TO THE FINANCIAL STATEMENfs- continued FOR THE YEAR ENDED 31 DECEMBER 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES 31.12.22 - continued Unrestrict¢d R¢strict¢d funds fund Total funds TOTAL FUNDS CARRIED FORWARD 532,178 49,163 581,341 KEY PERSONNEL MANACEMENT Key Personnel Management comprised of the Board of Trustees. TANGIBLE FIXED ASSETS Freehold property COST At l January 2023 and 31 December 2023 515,442 NET BOOK VALUE At 31 De¢emb¢r 2023 515,442 At 31 December 2022 515,442 DEBTORS: AMOUIYTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Other debtors 4,400 4,400 Page 9 continued...
SHREE JAIN SANGH EAST LONDON AND ESSEX NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Other creditors 28,825 700 10. ANALYSIS OF NET ASSETS BETWEEN FUNDS 31.12.23 Total funds 31.12.22 Total funds Unrestricted Restricted funds fund Fixed &ssets Current assets Current liabilities 515,442 50J73 (2&825) 515,442 110,704 (28,825) 515.442 66,599 (700) 60,331 536,990 60,331 597J21 581,341 11. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31112123 At 111123 UDrestrl¢ted fulldy General fund Unreslricted Designated Funds 16,736 515,442 4,812 {3,408) 3,408 18,140 518,850 532.178 4,812 536,990 Re$trieted funds Reslricted Funds 49,163 11,168 60J31 TOTAL FUNDS 581J41 15,980 597J21 Net movement in funds, included in the above are as follows: Incoming Resources Movement resources expended in funds UDregtrlcted fund$ General fund 19,963 (15,151) 4,812 Restrlcted funds Restricted Funds 18,801 (7,633) 11,168 TOTAL FUNDS 38,764 (22,784) 15,980 Page 10 continued...
SHREE JAIN SANGH EAST LONDON AND ESSEX NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 11. MOVEMEIYT IIY FUM)S- ¢ontiDu¢d Comparatives for movement in funds Net movement in funds At 31112122 At 111122 Unrestrlcted funds General fund Unrestricled Designated Funds 13.807 515,442 2,929 16,736 515.442 529,249 2,929 532,178 Restrlcted funds Restricted Funds 40,854 8,309 49,163 TOTAL FUNDS 570,103 11,238 581,341 Comparative net movement in funds, included in the above are as follows: Incoming Resources Movement resources ¢xpend¢d in funds Unrestrieted funds General fund 13,711 (10,782) 2,929 Restricted funds Restricled Funds 8,309 8,309 TOTAL FUNDS 22,020 (10,782) 11,238 Page 11 continued...
SHREE JAIN SANGH EAST LONDON AIYD ESSEX NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 11. MOVEMENT IN FUM)S- continued Unreslritted Restricted Proper Hegthw Bbaginfi Mahavir JivDh DevDh ay Mangal Jayantl aya ravya Core Totals Blfwd- 111123 16,736 515,442 1,573 4,957 600 6,467 35,566 581J41 Income 9,322 10.641 125 3,227 988 1.721 12,740 38764 Expendit ure (7,918) (7,233) (83) (3.157) (836) (3.557) (22.784) Netsurp lus 1,404 3,408 42 70 152 1,721 9,183 15,980 Clfwd - 31112123 18,] 40 518,850 1,615 5,027 752 8,188 44,749 597,321 12. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 Dec¢mb¢r 2023. Page 12
SHREE JAIN SANCH EAST LONDON AND ESSEX DETAILED STATEMENT OF FINANCIAL ACTIvrrIES FOR THE YEAR ENDED 31 DECEMBER 2023 31.12.23 31.12.22 INCOME AND ENDOWMEIYTS Donations and legacies Donations 3,956 9,144 Other trading activities Dev Dhraa Bhagini Mandal Jiv Dhaya Other Incorne 12,740 3227 1,721 6J54 5,157 275 2,277 5,167 24,042 12.876 Investment Income Rents received 10,766 Total AncomiAg resources 38,764 22,020 EXPENDITURE Charltable actlvltle8 Pajosan Swamivastlya Dinner Events Pat Darshan & Mavi Jenthi Bhagini Mandal 3,557 1,269 2,230 836 3,157 396 1,052 1,824 96 11,049 3,368 Support eojts Information teehllology Insuran¢e Repairs and renewals 1,089 1,004 2209 2309 2,093 Other Rates and water Telephone Postage and stationery Carried forward 339 238 529 1,106 3,701 310 394 4,405 This pa8e does not forni part of the statutory financial statements Page 13
SHREE JAIN SANGH EAST LONDON AND ESSEX DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 31.12.23 31.12.22 Other Brought forward Sundries 1,106 102 4,405 51 1,208 4,456 Govern4n¢e costs AGM Costs Professional F¢¢s Agent Fees Independent Examiner's Fees 335 3,858 3,375 750 165 700 8J18 865 Total resources expended 22,784 10.782 Net income 15,980 11,238 This page does not forn] part of the ststutory financial statements Page 14