REGISTERED COMPANY NUMBER: 03859127 (England and Wales) REGISTERED CHARITY NUMBER: 1080466
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2024
for
Sri Chaitanya Saraswat Math
Sri Chaitanya Saraswat Math
Contents of the Financial Statements for the Year Ended 31 December 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 to 7 |
| Notes to the Financial Statements | 8 to 14 |
| Detailed Statement of Financial Activities | 15 to 16 |
Sri Chaitanya Saraswat Math
Report of the Trustees
for the Year Ended 31 December 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Sri Chaitanya Saraswat Math aims to advance the Hindu faith and promote Bhakti Yoga for the benefit of the public by educating the community on its philosophy and teachings; promoting mental, spiritual, and physical well-being; relieving poverty and distress; and supporting individuals in need through food provision, counselling, development of employment skills through volunteering, and community programs such as food distribution and cooking classes.
ACHIEVEMENT AND PERFORMANCE Charitable activities Key Highlights from 2024
There was a 25% increase in attendance at our Bhakti Yoga classes.
Food Distribution: Provided over 7,820 meals to individuals in need.
Employment Support: Delivered training to 22 individuals, helping them gain valuable skills and work experience.
Volunteer Engagement: Engaged over 30 volunteers who generously contributed their time and expertise.
In response to the cost-of-living crisis, we expanded our outreach services and established partnerships with local businesses to secure regular food donations and support those most affected.
FINANCIAL REVIEW
Reserves policy
The trustees have agreed to maintain a minimum reserve of £15,000 to cover four months of operating costs in the event of unforeseen challenges.
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Sri Chaitanya Saraswat Math
Report of the Trustees
for the Year Ended 31 December 2024
FUTURE PLANS
In 2025, we plan to:
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Expand operational capacity by 15%
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Create 10 new volunteer roles to support programme delivery
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Strengthen corporate partnerships with the goal of increasing funding by 20%
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Refurbishment and renovation works at the Greville House property
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Upgrade of the live streaming system to support educational activities
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Improvement of car park storage facilities
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Replacement of the existing bicycle shed
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Replacement of the existing damaged fence
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Risk management
The board has identified key risks, including funding instability and rising operational costs, and is actively developing a fundraising diversification strategy to mitigate these risks.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
03859127 (England and Wales)
Registered Charity number
1080466
Registered office
Bhakti Yoga Institute Greville House Hazelmere Close Feltham Middlesex TW14 9PX
Trustees
Ms Z Cederberg Ms E A Clifford A Dragilev D W Ewins P G C M Geary R H Lindberg L S Wong (resigned 31.12.24)
Company Secretary
Page 2
Sri Chaitanya Saraswat Math
Report of the Trustees
for the Year Ended 31 December 2024
Approved by order of the board of trustees on 15 September 2025 and signed on its behalf by:
Ms Z Cederberg - Trustee
Page 3
Independent Examiner's Report to the Trustees of Sri Chaitanya Saraswat Math
Independent examiner's report to the trustees of Sri Chaitanya Saraswat Math ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with 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 considered as part of an independent examination; or
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the accounts 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 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.
Muhammad Jamshaid Aslam (FCCA)
15 September 2025
Page 4
Sri Chaitanya Saraswat Math
Statement of Financial Activities
for the Year Ended 31 December 2024
| 31.12.24 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 93,499 Other income 126 Total 93,625 EXPENDITURE ON Raising funds 3 79,010 Charitable activities 4 Direct Costs 28,247 Other 56 Total 107,313 NET INCOME/(EXPENDITURE) (13,688) RECONCILIATION OF FUNDS Total funds brought forward 715,814 TOTAL FUNDS CARRIED FORWARD 702,126 |
31.12.23 Total funds £ 196,271 218 196,489 166,750 35,182 - 201,932 (5,443) 721,257 715,814 |
|---|---|
The notes form part of these financial statements
Page 5
Sri Chaitanya Saraswat Math
Balance Sheet
31 December 2024
| Notes FIXED ASSETS Tangible assets 8 CURRENT ASSETS Cash in hand CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 10 Unrestricted funds: General fund TOTAL FUNDS |
31.12.24 Unrestricted fund £ 678,544 25,022 (1,440) 23,582 702,126 702,126 702,126 702,126 |
31.12.23 Total funds £ 684,446 32,808 (1,440) 31,368 715,814 715,814 715,814 715,814 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 6
Sri Chaitanya Saraswat Math
Balance Sheet - continued 31 December 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 15 September 2025 and were signed on its behalf by:
Z Cederberg - Trustee
The notes form part of these financial statements
Page 7
Sri Chaitanya Saraswat Math
Notes to the Financial Statements for the Year Ended 31 December 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
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Sri Chaitanya Saraswat Math
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
2. DONATIONS AND LEGACIES
| Donations 3. RAISING FUNDS Raising donations and legacies Rates and water Insurance Light and heat Telephone Postage and stationery Groceries and direct cost Audit Accounting Fees Bank charges Interest payable and similar charges Other trading activities Repairs and Maintenance Cleaning and Household Computer software Travel and Fundraising Interest payable and similar charges Aggregate amounts |
31.12.24 £ 93,499 31.12.24 £ 502 4,659 13,468 1,119 1,597 24,399 1,440 207 - 47,391 31.12.24 £ 9,930 2,374 494 18,721 100 31,619 79,010 |
31.12.23 £ 196,271 31.12.23 £ 506 4,230 18,886 1,269 1,064 61,727 1,752 175 130 89,739 31.12.23 £ 51,064 515 334 25,098 - 77,011 166,750 |
|---|---|---|
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Sri Chaitanya Saraswat Math
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
4. CHARITABLE ACTIVITIES COSTS
| CHARITABLE ACTIVITIES COSTS | ||
|---|---|---|
| Direct | ||
| Costs | ||
| £ | ||
| Direct Costs | 28,247 | |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| Depreciation - owned assets | 31.12.24 £ 9,402 |
31.12.23 £ 9,147 |
5. NET INCOME/(EXPENDITURE)
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM | Unrestricted fund £ |
|---|---|
| Donations and legacies | 196,271 |
| Other income | 218 |
| Total | 196,489 |
| EXPENDITURE ON | |
| Raising funds | 166,750 |
| Charitable activities | |
| Direct Costs | 35,182 |
| Total | 201,932 |
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Sri Chaitanya Saraswat Math
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD TANGIBLE FIXED ASSETS COST At 1 January 2024 Additions At 31 December 2024 DEPRECIATION At 1 January 2024 Charge for year At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 |
Freehold property £ 668,895 - 668,895 - - - 668,895 668,895 |
Plant and machinery £ 35,523 - 35,523 28,607 6,514 35,121 402 6,916 |
Unrestricted fund £ (5,443) 721,257 715,814 Motor vehicles Totals £ £ 26,254 730,672 3,500 3,500 29,754 734,172 17,619 46,226 2,888 9,402 20,507 55,628 9,247 678,544 8,635 684,446 |
|---|---|---|---|
8. TANGIBLE FIXED ASSETS
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Sri Chaitanya Saraswat Math
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Accrued expenses 10. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
At 1.1.24 £ 715,814 715,814 Incoming resources £ 93,625 93,625 At 1.1.23 £ 721,257 721,257 |
31.12.24 31.12.23 £ £ 1,440 1,440 Net movement At in funds 31.12.24 £ £ (13,688) 702,126 (13,688) 702,126 Resources Movement expended in funds £ £ (107,313) (13,688) (107,313) (13,688) Net movement At in funds 31.12.23 £ £ (5,443) 715,814 (5,443) 715,814 |
|---|---|---|
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Sri Chaitanya Saraswat Math
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 196,489 196,489 |
Resources Movement expended in funds £ £ (201,932) (5,443) (201,932) (5,443) |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.23 £ 721,257 721,257 |
Net movement in funds £ (19,131) (19,131) |
At 31.12.24 £ 702,126 702,126 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 290,114 290,114 |
Resources Movement expended in funds £ £ (309,245) (19,131) (309,245) (19,131) |
|---|---|---|
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Sri Chaitanya Saraswat Math
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
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Sri Chaitanya Saraswat Math
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 December 2024 | ||
| 31.12.24 | 31.12.23 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 93,499 | 196,271 |
| Other income | ||
| Bank deposit interest | 126 | 218 |
| Total incoming resources | 93,625 | 196,489 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Rates and water | 502 | 506 |
| Insurance | 4,659 | 4,230 |
| Light and heat | 13,468 | 18,886 |
| Telephone | 1,119 | 1,269 |
| Postage and stationery | 1,597 | 1,064 |
| Groceries and direct cost | 24,399 | 61,727 |
| Audit Accounting Fees | 1,440 | 1,752 |
| Bank charges | 207 | 175 |
| Staff training | - | 130 |
| Other trading activities | 47,391 | 89,739 |
| Repairs and Maintenance | 9,930 | 51,064 |
| Cleaning and Household | 2,374 | 515 |
| Computer software | 494 | 334 |
| Travel and Fundraising | 18,721 | 25,098 |
| Bank interest | 100 | - |
| 31,619 | 77,011 | |
| Charitable activities | ||
| Advertising | 395 | 730 |
| Carried forward | 395 | 730 |
This page does not form part of the statutory financial statements
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Sri Chaitanya Saraswat Math
Detailed Statement of Financial Activities for the Year Ended 31 December 2024
| Detailed Statement of Financial Activities for the Year Ended 31 December 2024 |
||
|---|---|---|
| 31.12.24 | 31.12.23 | |
| £ | £ | |
| Charitable activities | ||
| Brought forward | 395 | 730 |
| Sundries | 6,191 | 4,935 |
| Professional and Consultancy | 349 | 4,976 |
| Office Costs | 11,910 | 15,393 |
| Depreciation of tangible fixed assets | 9,402 | 9,148 |
| Other | 28,247 | 35,182 |
| Staff training | 56 | - |
| Total resources expended | 107,313 | 201,932 |
| Net expenditure | (13,688) | (5,443) |
This page does not form part of the statutory financial statements
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