REGISTERSD CHARITY NUMBER: I12679 Report of the Trustees and Statements for the Year Ended 31 M4rrh 2024 for Slwee Swaminarayall Satsang
Shree Swaminarayan Satgang Contents of the Financial Statements for tbe year ended 31 March 2024 Page RefereDee aud Administrative Def•AIs Report of the Trnstees 2 to 7 Report of tbe Independent ABditor5 8 to 10 Sl#temeDt of FInellI AetiFitie5 Balanee Sheet 12 to 13 Cash Tr'low Statement 14 Notes to the Casb Flow Statement 15 Notes ts the Flnanclal Statements 16 to 25
Shree Swaminarayan Satsang Reference and AdDlilliStrative Detalls for the year ended 31 March 2024 TRUSTEES .Mr D D Gtimi Mr K R Patel Mr L M Vek&Tia .Mr P M Vekaria Mr P G Patel Mr M M Vekaria Mr J M Vekaria TRUSTEES HOLDING TrtLE TO PROPERTY BELONOtNG TO CHARrrY MrDDGami Mr K R Patel TrADtNG ADDRESS Dharma Bhakti Manor Wood Latte StaDmore HA7 4LF REGISTEItED ADDRESS 81 St. Andrews Drive SIBnmore Middlesex HAI IBE 1092679 AUDITORS KNAV Hygeia Building 6&68 Coll¢ge Road Harrow MiddleA HAI IBE WEBsrrE h1¢.1/Stanm0reIernpI¢.¢orn Page I
Shree Swaminarayan Satsang Report of the Trustees for tbe year ended 31 Marcb 2024 Th¢ Trnstees pre5¢llt their report 8nd financial statements of Shree SwamiDarnyall Satsang (S.S.S) "the Charity. for the year ended 31 March 2024. The financi81 statemcDts have be¢n prepared in accordalloe with theacroiinting policies set out ill the not¢5 totlle financial stateTn¢nts and compty with the charity's Current statllry requir¢ments, the Charities Art 2011 and "Accounting and Reporting by Charities: Statement of Recotnmended Pradice applicable to charities preparing their accounts tn accordance with the Financial Reporting Swmlard applicable in the UK Republic of Ireland {FRS 102)" (As amended for accounting puÉods comm¢DciD¥ from l JaDuary 2016) OBJECTIVES AND AcrtVITtES Objectives and activlties In accordan¢e with the rharitys objertives set out in the constitution of the charity. the Charity has th¢ following aims. l. To advance the S8DAtatt Dbarma (Hityhi religion) in accordance with teachings and prin¢ipks of the Shree Swam1nardy founded aud ordained by Lord ShTee S&bajanaDd Swami. 2. Th¢ Charity's main objective for the year continues to be that of NovidiDE a spititual place of worsbip for d¢votees and the wider community, to practi¢¢ and adhere to the Swamitwayan (Hindu) faith, to observe all the regular f¢stivais and cultural activities coupled wxth a place to ext¢lld voluntary service (sev*). 3. Thc $trat¢gy to acbi¢v¢ these objectives iDchKk the provisiott of a safr place of worship. including separAt¢ Temple bails for both malcs alld femal¢s. substantia] op¢n wunds. haus afjd buildings al recreational facilitics for all ag¢s to participak in. integrnte as a community and tt) instil hwnble. moral, p¢aceful and religious values. Each year. the trustees review our objectiv¢s to ensure that they continue to reflect our ainL8 aDd in planning its activities for the ycar. Page 2
Shree Swaminarayan Satsang Report of the Trnstees for the year ended 31 MCh 2024 OBJECTIVLS AND AcfiviTIES Public benefjt statement Thc charity is a public b¢n¢fit entity. Th¢ trnstees have cou]plied with the duty ill section 4 of the 2011 Clwities Act to have due regard to guidonce publi8h¢d by the Charity Commission. in¢Ruding public ben¢fii guidance. The charity has achieved its primary public b¢nefit objectives by continuing to meet the spiriti]al requireTn¢nts of the congregation and the wider coffttnuniry. This was achieved by holding all daily aarti. thaals. p)ojans. katha and Nitya Niyams coupled with cel¢brating with grand fashion all kcy f¢slivals. TtrLC T¢mpl¢ has continucd to an iticrea ID th¢ number of p¢(wle coming for datsban and at key festivals aThd th¢retore rebnains an atiractive plac¢ for ihose wanung w follow the faith of Luj Swa]iiiiiaiayan. The Congregation welfe needs We ¥lso met with the vorio$ pn)gtams actkvitie5. Our Somprady Llhagwan s7Ce SwaJlliTWAy&n was born the Kosh41 region oflndix ill ¥ village called fhhap3iya (nearAyodhy& UP). Havillg served His par¢Dts until their detDi4 the Aknighty tk to a pilgrimage of Jndia, adoptiiig tbe life of a nomadtc h¢rn)it. On completion of the 7 years, wjourn of tndi& the tmd n)et up witb Ramanand s alld estsb1ish the purest and unadult¢rated forni of r¢ligion. based on ultimate devotioD to Only. with total obs¢rvance of non-violent dhatma. Shr¢¢ji Maharaj re-introduced the non-violent yagnas. ott a grand scal¢. He instru¢t¢d Dumerous of social welfore. alms-bouses. diggitig of viuage wells / lakes. explaioed in detail why Èt is imp)rtant to worship Satvic deitics. Shr¢eji Matmraj discrcdit¢d the act of cnfotced Sati & frmal¢ infanticiik. After the passing of Sbree Raman Swami, Shr¢eji ma1J b¢ld a large gathering of the folloWS at the town of Faneni. It was during this $2bh4 whilst ¢xplaining that is on< H¢ is Naraya He is our Swami. Shreeji Maharaj introduc¢d'the father of all Mantra5', Sivat[L]]Yall. lkn refer5 wholly & solely to Bhagwan Purushottarn Nuaya (Shr¢e Swaminarnyan Bhagwan). He established temples at" Ahmedabatl Bhuj. Muli. Vadtal. Jullag DknIe Dhol Gpur & Jetslpur insta]ling iniag¢s ofvdrious manifcstations of GoiL such as NarNarayan Dev. Ltxrni Naray Dev, Radha KriRhna, Radha RAman. Revti Baldevji, ¢t¢. Shreeii Maharnj made Gadhpur His home. in ffcognition of the exceptional devoted lov¢ from Dada Khachar. In Vadtal. on Prabodhini EkadAshi of Vikram Sxmvat 1882, aftff due deliberntion Sbreeii Mtharaj adopted His nephews Ayodhyaprasadji Pande and Raghuveeiii Pande &s His sons. Establishing the two Gadis i.e. NarNaTaysth Dev Gadi 2t Abmedabad and LaxmNarayan Dev Gadi at VadtsL Shr¢¢ji Maharaj instructed the two brothers to th?w lots, to d¢cide who would be seat¢d on which Gadi. Sbreeji Mabaraj then instNcted all thc followers ps¢llt to do pJan of their respective Acharyas. Ayodhyaprasadji Maharaj) was appointed th¢ inaugurdl Acharya of the NarNarayarL Gadi (also known as the Uttsr Vibhag - North¢rn division). whilst Ragbuveerli Maharnj b¢wne the inaugural AchAryA of the LaLmiNarayan Gadi (aLso knowts as tbe Dakshin Vkbhag . Southern division. This legal document (known as Desh Vibhagno Lekh). which is effectively th¢ CODslitutioll of tbe Sw8minarayan religion which he dictated aud got wrAtten by Shukanand Swymi. l£arned 5aitits and elder satsangis witslessed this document. Copies were pre$¢nted to Ayodhy4)rasadji bAaharnj & Raghuveffii Maharaj 4iese are curr¢ntly in the possession of th¢ current Achary&8. Shreeji Mahardj appointed Shree Raghuveerii Maharaj thc Iaxmi Narayan Dev Gadi at Vadtal, and ShreeAyodhyaprdSadjÉ Maharaj to the Nar Narayan Dev Gadi at Ahm¢daba¢L Pre5endy. HH Acharya Maharajshri RakeshpTasadji Maharaj adorns th¢ illustrious seat of Laxmi Narnyan Dev Gadi, whilst HH Acharya MahaTajshri Kosbl¢Ddraprasadji Mahardj bas TTead the glory of God as Acharya & leader of tbe N¥r Narayan Dev Gadi at Ahmedabad. It is the imiquen&s8 of the authentic bollafide Swominarayan Samprnd8y, th8t the closest & tyAgi (saint) comes to leadership is being appointed the Mahant Swami ead-Saint) of a Shiklwbandh T¢mple. At all times, the true saints of the SampT&day take thcir instructions from the Aclwy4 their ultima¢ GUTU & leader. Page 3
Shree Swaminarayan Satsang Report of the Trustees for tbe year ended 31 March 2024 OWECTIVES AND ACTIVITIES Th¢ Acbarya of the NarNar&yan Dev Gadi al AhTnedabad is PTe6¢Dtly His Holines5 Acknya Shri KosblendTaprasadji Maharaj. The method by which futurc Acbaryas are to be appointed is ¢tish[i ID th¢ document knowD as Desb Vibba¥No Lth. Tt is not only a legal document and also effectively the consliÈution ofthe Swaminarayan religion that has stood the lest of times since its existence. it is instwction priTnaTily to the Achary Santos but with $pecific instructions for the ordinary followers also. It is a widely aCcepd faci ihai lh¢ Swaminardyan sampraday 41 uni4u¢ lieiita8e of lead¢rship that 6tretrh¢s back to the Lord Almighty PunLshottarn Nornyan Himself -Bhagwan ShtTe Swaminarayan. As a final note ¢he pawge below encapsulates our duty from this day forward: "YO two. who hold the Gadis. h8v¢ been app)inted 5PiTituAI precept0. bence all Sadhu5. BraI¢baris and Palas and all our followers sball alivays remain ob¢di¢nt to your cotwnauds, and shall serve you. Sbould any person of a sect (beliefj other than that of the two rnliug spiTitual prcccptors of the linc of Dharniadev bc pr¢- Cminent for his knowledge of the Shashtrns or for his pta¢tice of Yoga OT asceticism OT for self renunciation, or for any other virtue. and if thereby the two ruling preceptors of the line of Dhannpdev be lowered in estin)ation, n¢vertheless we command all Sadhus and BrahmachAris and Palas and all our followcr5. that in order the salvation of tbeir soul4 they always and for ever honour the two ruling SPiTitu41 preceptOTS of thc lin¢ of DhanDadev. and oky tbem in thought. word and dc¢(L Should onq failing this. seekrefuge in atsotlLer and bonourh1 his soul 5baU never havc happiness in this world or in the world to com¢ but sbalL suffer cxtrcme pains. ' (Desh Vibhaag Lekh. paragraph 10) The Shikshapatri w&s writtenbyBhagwan Sluee SwaTnin¥rnyaD's bli&sful hand onVasantP¥Dchmi dayofviknm Samvat 1882, this is a booklet of 212 Shlokas. Shrr¢ji Maharaj sat in the Hari Mand8p residence at Vadtal Temple -and rote It in SanskriL He instructed the pandit Saint Nityand Swami to translate it into Gujar&ti. To the followers of the Swarninarayan SAmpraday. who love and adore IheiT Ishtsdev, th¢se are words of divine guidance an how to live a moral and peacethl life. The Shikshapatri comwises th¢ essence of all the scriptures of Sanatsn Dharnia, so Swaminarayan followers read il daily. It contain5 gthjeral guidance 2nd specific instsuctions to a variety of categori¢s of followers -tbe Acharyas & their wiY¢& householder males and female& widows. saints and brahmhrIe5. At th¢ age of49 years, Shreeiimaharaj left His physical 8tGadbpur, promising to retDain within the Swamijyall Samprnday ffin: l. the image5 He installed (and th¢ Acbaryas succeeding HIM as peTth¢ De5h Vibhawi IAh) 2. the Acharyas Anstslled by Him {and those in direct succession) 3. the saints He initiated land those tnitiaied by succeeding Ach¥ryas} 4. the ]ptUreS. such as Shikshapatri. Satsangi Jeevan, Satsangi Bhushan. etc (and tho$¢ authorised by su¢ceeding Acharyas) Volunteers The Charity relies on the selfless help and assistance of the volth)teers helping in it would not hav¢ been able to assist others during thepandemi¢ without the selflas act of its volunfreTS. Page 4
Shree Swaminarayan Satsang Report of the Trustees for the year ended 31 March 2024 ACHIEVEMENTS AND PERFORMANCE Chat4table actlvltles l. The T¢n)ple bas se¢n increasing turnout for all ]0[ festivals Itke Holi. Ramnavmi. Diwali, JaDm&5thJi. NavrAtri- Dusthera and Patotsav since thc end of th¢ eovid pand¢mic. 2. Yuvak and Yuvati mandal classes opcrdtr at the Mandir and help organise all Youth engagem¢ni activiti¢s, which resumed after the pand¢mic. 3. The Templc websitc alld social n¢tworking sitrs are continually updated with feathtts such as phokn5 and vithos from past events and announcements lor the events. 4. Community, Health and Well-being semitws ate b¢iDg beld on a regular basts to Taise awareness on key issues sh Dementia, Cancer and othe[5. These started to Tesolve Slowly aft¢r the pandemic. 5. Intsrnational Scwa Duy is hem to allow devotees to c4)nti with ltI service to the enviromnent. In con)moll with all charitie4 th¢ Chatity is heavily reliant Oll the c(>ntinuing eontributiorL and support of its unpaid volunteers who have assisted with the day to day operaiion tsf the Tett)ple. The Ttustees thaDk all of our volunteers for tbe hard work put in duriug the year, iJL au aspects including Prdshad preparatioffj various educational activities, library. tleAning organization of various eveDts. Criterla to measure suc¢ Th¢ Ciwity measurcs it SJJCCC55 in t¢rms of nutDbers att¢dillg aDd parttcipating ID the Juany activities aDd festivals. It ontinues to promo1¢ grethr attendano¢ and the Increa in education of thos¢ coming to the t¢mple. Th¢ nwnbcrs of people attending at the Diwali festvyals are usllally appmximately 10.(KKJ a year. Going ¢oncern In prepaTing the financial staterncnty the In respOs1b1e for asse55ing tb¢ charity'5 ability to contillue as a going comcem. dis¢losing as applicable. matters related to going con¢¢rn and th¢ going concern basis of accounting. The Trustees believe that there are no goitig concern matters that would aifeci the Charity foT the foreseeable fvtur¢. The Board believes that adopting th¢ going Concern bLSiS ID preparing the financial statements is appropriat¢ for the charity. Th¢re are llo other Significant risks that are r¢quired to be reported for the financial year ending 2024. Reserves Poliey It is the Emblicy ofthe charity thatunreStriCt fimdswhich have nOtb¢ designat fora stKcific use shouldb¢ maintained at H lev¢1 equivalent to between three and six mollth's exp¢Thliture. The Tws1 considers that res¢rves ai this level will ensure tbaL in tbe event of a significant drop ill funding, they ivill be able to colltinue th¢ chariwg cuThellt activiti¢s wbile consideration is giv¢ll to ways in which additional fifftds may be rdised. This level of reserves has been tnaintained througbout th¢ year. Ayallabillty nd deq¢Y of *55ets of e4ch of lthe fllnd5 The Board of Truslees aff satisfied with tb¢ perfornwnce of the Cjwity dunog the year and wnsider that the Charity is in a posktion to continue Ats activities during the ¢omiDg y¢ar, and thai the charity's aSts in each fijnd ar¢ adequat¢ to Ifil its obligations. The Charity continues to prosper through increasing donalions arhd is in a Strong financial wsition meeting all foreseeable ¢haritsbl¢ obliwatiOTlS, particul)Y &8 the initial fijnding bank loan h&$ now been repai FINANCIAL REVtEW FinanciAI review StateTnent of Financial Activiti¢S show net income for th¢ yeaT of review of £619,844 (2023: n¢t income of £449,988). The lotsl funds at the year4nd stsnd at £10,077.574 (2023: £9,457,730) of which £44,301 {2023..26,297) ar¢ beld a5 restrieted funds for Bbllj Temple and Nepal earthquak& Bolb i1018 resources and expeDditure have been largely consistent year on y¢ar. Page 5
Shree Swaminarayan SatS2ng Report of the Trnstees for the year ended 31 March 2024 FINANCIAL REVIEW Prlnclpal fundlng The PTincipal funding Sources for the Charity ¢oniinue to bc thmugb gcn¢rnl dollatioDs from the eongregation and wider community for religious activities and festivals including DarSha ThaaVBhet aDd festival related income such as Holi, Diwab". Patotsav, Ramnavmi, JaDmasbtsmi OngSt others and hallsusage contribution ftom various relgious and Cultr artivities. The charity now also has rental income fro two investtnent PTOP¢rties. GlobAI Nehvork of Temples The Charity 15 one of a laTBe numb¢r of Temples which Corne undcr the NarNarayan DAOSC8C based ID Ahmedabad, Indi& Th¢ Charity LS also involY¢d in other Temples Di(Jie5e. FUTURE DEVELOPMEF4TS The Charity, tru5t¢es and volunteer5 have WDTked h2rd to incrEW the nwnber of attendees of the Temple by increasing the number of reli05, education and culturdl activities. As Te5uIt of ihis hard work and improved financial positioning. th¢ tNste¢5 arc discussitts tUr building use options #ttd vgrious devek)pment options to increase facilities on site to ontinue to fi]rther th¢ Cbariry's objectives. Risk.M¥ttagememt The trusttts identify the m&jor risks to which the Charity is exposed to each finJncial year when prepariug and updaling strategic plan. in partieular. thos¢ areas related io th¢ operation5 and fillauees of th¢ Charity. The TTUStees then review any major risks which have been identified alld estabiisb systeD)s mitigate those risks. The'l'njstees ¢Olltinue w p1 in place appropriate internal contro]s and monttoring pro¢edurcs to minimize fiDancial risk%. The Board r¢cognizes that risks exist from a s(Kial. erQM]C and legislativ¢ aSrts of the economy> bui believe thai these are mitigatcd with the help and assistance from our volunteers the eonllnunity ai larg¢. The increase in the attendance at nJRjor festivals is tesrament to this outside of the pandanic periryl. The Trnstees have asSed the major risks to which the charity is eX5¢d and are Satisfi that sysi¢ms are in place to mitigate ex)SUre to the majorrisks. STRUCTURCI, GOVERNANCE AND MANAGEmEr Covernlng document The charity is controlled by its governitig documenl a deed of and constitutes ats unincorpmtrd Chlty. ManageDJent & Method of Appolntment of Trnstee5 The Rnard of tntee5 hold regular meetings to administu and manage the charity and make decisioT)s at such m¢etings. Other ad-hoc decisions are tsken by the trustees with executiv¢ y)sitioD5. The Board of tNstees hai'e tbe power to ele n¢w trustees. Every 6 years. the 3 eldest Trustees sball voluntarily r¢siw4 and the remaining ITUStees will select new Trustees, thougb th¢ voluntsrily resigTr¢d trustees eligible for resclection. New Thtstees need to have served in th¢ dvisory conllnittee for minimum of 6 yurs. Inductlon Iralthg of llew truste As part of tbcir inductiOTJ program. new trusÈe¢s are mad¢ aware of their TC5ponsibiiities and this includes all introduction to th¢ objectives, 5cop¢ and policies of the Charity. the Charity Commission guidance on Trustee r¢sn3]bIlitIeS and a copy of the ConstiMtion. Additional training is available to keep up with all new regubations concerning th¢ Charitys athivities and objectivcs. STATETrtENT OF TRUSTEES• RESPONSIBILITtES The ttustees are resp)nsible for preparing the Report of the TnL8tees and the financial slatements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom fjenerally Accepd Accounting fvactice). Poge 6
Shree Swamlnarayan Satsang Report of the Trnstees for the year ended 31 Marcb 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES- ¢ontinued The law applicable to charities ID England and Wales,theChariti¢sAct 2011. CTr1ty (AccouDts and Repons)RegulAtions 2008 and the PTovisAons ofthe tswstdeed requires the ts7¢S to pw financial statements for each financial yr which give a tLve aNi fair vicw of the state of affair5 of the charity and of the incomitig resources and app]icalion of resources, including the illcome alld expelldltu of thc cbatity for that period. Jn preparin¥ those financial ststements. the ITUSt¢¢s are re(Ired to 5cle¢t sultable a¢¢ounting policies and tben appty them consisteotiy. obSce thc rn¢th(th and principics in the Clwity SORP: m4keiudgements and ¢stimates thai are r¢asonable and ptwhi4 state wheth¢r applicable accowiting standards havc been followe4L subject to any material depaTtyres disclosed and explained in the finallcial ststements. prepare th¢ financial staterTients on the going COTh basis Unl it 1$ itwwiate to presume tbat the charity will continue in business. The trustees are responbIe for keeping proper acc(NJthing record5 which disclose with rea50nAbie ac¢urdCy at any time tbe fiDancial position of the cbaTity alld to enable them to ensur¢ that th¢ financial ststem¢Dts comply with th¢ Chatitics Act 2011, the Cl)arity (Accounts and Reports) Regulations 2<M)8 and the provisions of the tn1 deed. Tb¢y are also responsible forsafeguarding the #ssets ofthe charity dher¢ fortskingreasonable • forthe preventionand detection nf fralld and other iTregulaTitie8. Apptove41 by ordu of the board of ts)teeS on S ¢.c¥.¢Akn...It!ts... and sIgtt on its behalfby: ami - Trustee P88e 7
Report of the Independent Auditors to the Trnstees Of Shree Swaminarayan Satsang Opinion We have audlied the finallcial slalr¥nts ofsbte¢ Swamttiardyau SatsaJJg {tb¢'chority) forthe year Ended 31 March 2024 wbich comprise the Statement of Financial Activities. the Balance Sheet, the Cash How Stsiemenl and notes to the fillAncial statements. including a summary of signifKant accounting tM)licies. Th¢ financial r¢porting fram¢work that hxs been appli¢d in their pparation is applicable law and United Kingdom Aecounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the finaticial staterDents: give a twe and fair view of tbe state of the charity's affairs a5 at 31 MaTch 2024 and of its incoming resouTces and application of resourccs, foi the ycar th¢n ended. have been properly pr¢pared in accordance wtth United Kingdom GeneTally Accepied Ac£ounting Prncti¢¢" and have been pr¢pared in accordance with the requircments of the Charities Act 2011. Basis for OPiniOD We conducted OUT audit in accordance with IDtemational Standards (K) Auditing (UK) USAS (UK)) and applicable law. Our responbilitieS under th05¢ Standards are further d¢sth1)ed in the Auditors, responsibilities ft>r the audit of the fuwcial statements section ofour report. We are indep¢ndLYAI of th¢ cbarlty in accordanr¢ with the ethical requirements thai are relevani io our audii of th¢ statetn¢nts in the UK including the FRC'S Ethical Stand and we have fulfilled our oih¢r ethical resp)nsibilities in accordan¢¢ with thes¢ requIreMts. We believe that the audit evidence we have obtsill¢d is suffi¢i¢Dt and appropyiaie to provide a basÉs for our opinion. Coniluslons relatlng to Eolmg colleern Jn auditing the finaneial statemeTJt¥ we have toncluded that the trusÉ¢es' use of the going ¢oncern basis of accounting in the prepatation of the financial statements TS appropTiate. Based on the wotk we have fOrnI. we have not identified Atty matrrial uncertaiDties relating to events or conditions that. IndividulY or collectively. mtty t significant doubt on the cboritys ability to contiDlle Ls a going concern for a periixl of at leasi twclv¢ months from wtrLen th¢ fillanciai statements arc authorisd for issu¢. Our responsibilities and tb¢ responsibilities of the thjsteu with respcct to going Concern are describcd iti the rclevant S¢Clions of this report. Other infornatio 'rhe ISt¢e8 are responsible for ihE othyr infomiation. Th¢ other infOrntIon Compris the inforni8tion included in the Annual Repor¢ other thall th¢ financial statements and our Report of the [dedei Auditors th¢reon. Our opinion on the financial siatements does not cov¢rthe other Inforntion exc¢pt tothe extentothenvkse explicitly ststed in our TeFrt)rt, we do Dot express ally forn) of assurance Conclusion ¢befft)n. In ¢onne¢¢ion with ow audit of th¢ financial slatements. ourrespon5ibility is to read the other infoTmation an¢L in doing so. consider whether the other inf0mli0n 1$ materia]ly inconsisi¢llt with the financial statements or our knowledge obtatned ill tbe audii or otherwise appear5 to be materially misstated. If we identify such mateTial incoll5iStencies or apparent material misstatement& we are required to detennine wbether this Bkves ris¢ to a terIal misslatc]nent in th¢ f]Cial statements themselv<s. If. based on the work we have performed. we ¢onclude that tbere is a material misstatement of this other infOrnOD. we are required to report that fact. We have nothjng to repon in thi5 Tegard. L¥latters ftrn swhlth we are requlred to report by exceptlon We bave nothiJkg to report in respect of the followin8 matters whC the Charities (AolIts ajmi Reports) Regulations 28 r¢quires US to report to you if. ID Qllr opinion: the Information given in the Repon of Tiusw is inwnsistent in any matwiaj respectwith the fJrt4ncial stalements. or sufficient a¢couMing records bave not been kept: or the financial statevnents are not in agreement with th¢ a¢countsDg records and returns" or we hav¢ not receiv¢d all th¢ information and explanations we Twuire forour audiL Page 8
Report of Ihe IndepeDdent Auditors to the Trustees of Shree sWannaraYa Satsang Respon5ibilitie$ of trnstee5 As explain¢¢J fully ill the Str4temcnt of T¢&, Rcaponsibilities, the truske8 are rwtisible for the prep8rntion of the financial slatements whicb give a true and faii view. and for sucb internal cont[ as the trustees determine is neSsarY to enable th¢ prepardtion of fit]allcial stat¢tnents that ar¢ fT¢¢ from mat181 Misstatell( wheth¢r due to fraud or ermr. In preparing the financial ststements. the trust¢e5 2re Te4yonsible for assessing the cbaritys ability to continue as a going concern, discl(Y&ing. as applicabl¢. matters reiat¢d to goingconcern and using the going concern basis of accounting Ullless the tNstees either iDtend to liquidate the chaTity or to cease operations, or have no realistic alternative but to do so. Our respoll$lbllltle5 for the audit of tbe 5tstements Ollr objectives are to obtaill rcasonable a&wrdn¢e Abouivknctber the financ&al ststem¢Dts as a whole are free from material tnisstalcn)ellt. whether due to fraud or ttror. and to issue a Rewrt of ibe tDdependent Audito that includes our opinion. Reasonable a&surdllCC is a higb lev¢1 of a&8ufdnc¢ but is not a guarantee that an audit eonducted in ttccordanrK with ISAS (UK) will always detect a material ujisstatement when it exists. MisststCTllellts can aTise from fraud or error and are considered material if. indivithjally or in the aggr¢g2ie, they could reasonably be expe¢ted to influence the cnOMic decisions of users taken on the basis of these financial statements. Extent lo whi¢h the audit was capable of detecting itr¢8ularitie4 including h¥ud We design our procedures so as lo d)tain suffici¢nt appri)priat¢ audit evidence that the financial statemenls are not materialty rni&statsJ due to n(xt•compliknce with laws and regtio1&S or du¢ to fraud or error. We arc not responsibl¢ forprcvcntiDg non-¢ompli8uce and callnot be expe¢td to detect noncompliance with all laws and regul8tions- this reS81b11lty lies with manJgement with the oversight of the Trustees. Based on our ulerstandIng of the chlty. discussions with man#gemen( w¢ identified the Chattties Act alld Financial Reporting Stslldard 102 8$ having a direct effect oll the amounts and discloSuS ID th¢ ftshancial stAlements. As part of the cngagement team discu10 4bout how and wherc the Charitys fmaDcial statements m8y be materidly mi$8tsted du¢ to fraud. we did not idelltify ally areas with an Iisk of fraud. Our audit procedures includ¢d.. - rnquAry of man4emcDt alt thc Cl]Atityls polici¢s. proceAJur¢s and relatd contro15 I¢rding compliancc WAth laws aT]d regulations and if th¢re are any known instances of non-compliance. - examining supportirtg dOrnents for all mateTiJ] balance& traMsacti(w and discloswes. - review of the trnst¢¢ mknutcs. . eDqUiry of management aad review and inspection of relevant corrwdetC with any legal finns" - ¢Yaluation of the selectiOD and appIltion of a¢ting poli¢ies relai¢d to subjemive measuffments and ¢omplex Iraiisaction - analytical PT0¢edU to idetitify any ullusuai or UDexpected rel*ionsbips; - testing the approprialenessofjournal entrie5 recorded in the gra1 ledgerandotheradjustrncnts made in th¢ preparntion of the finan¢ial stateTn¢nts' - review of accounting estimates forbiases. Owing tothe inherent ]imitations of anaudiL there is anunavoidableriskthat g)me matetialmisststements ofthe financial statements may not be drtected. even th(8 the audit is proFthy planned and perfornd in accordance with the ISAS Th¢ potential ¢ffects of inherent limitations aTe particularly significant in the case of misstatemcnt resulting from fraud because fraud may involv¢ soph"¢t¢ and carefully Organed schcrnc5 to conccal 14 includin£ d¢libtrot¢ failure to rccoid transactions, collusion or inlentiollal misrcprcsentations b¢itig mad¢ to us. A furtber descTiPtion of our responsiTr)ilities for the audit of tbe financial ststem¢Dts is lOted on the Financial RepoTtillg Coullcil'5 website 8t www.frc.orE.uklauditor5responsibiLities. ThisdcscriptlOD forn part ofourRew)rt ofthelndependenl Auditors. Page 9
Report of the Independent Auditors to the Trustees of Shree Swaminarayan Satsang Use of our report This report is made solely to the charity's tnlstees, as A b(Kty, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate to the charity's trustees those matter5 we are required to stat¢ to them in an auditors, report and for no other PUTpose. fo the fulle51 exteni permitted by law. we do not accept or 8sswne reswnsibility to anyone other than the charity and the cbariry's trusrees as a body. for our audit work, for this rewrl or for the opinions we have fornied. k NJAfvl For and on behalf of KNAV Lirnited, Sratutory Audithr Hygeia Building 66-68 College Road Harrow Middle5ex ELiI IBE Date.. 15 October 2025 Page 10
Shree Swaminarayan Satsang Statement of FinAncial Activlties for the year ended 31 March 2024 31.3.24 Totsl fund5 31.3.23 Totsl funds Unrestricted Restrscted fund Notes JNCOME AND ENDOwms FROM Donations and Icgacies 3S7,029 18.IMM 405.OJJ 355,611 Charitable *¢tivllles Charitabl¢ Activities 617JlO 617Jlll 456.669 InVtment income 141 749 Total 1&004 1.164,092 909 138 EXPEF4DITURE ON Cbaritsble a¢tivitie5 Charitable a¢tivities 5,6.7 S89348 8 494 150 Net 8giTb5 on investments 12 35,000 NET INCOME 601WO 1&004 619W4 449.988 RECONCILIATION OF FUNDS Total fijnds brought forward 9,43L433 2A297 9,457,730 9.007,742 IDJI33 10 077574 9.457 730 CONTINUING OPERATIONS All income and expeDditLtre has lS¢ll from contilluiog activities. The ]wrtes forni part of these financiAI ststeinents Page 11
Shree Swaminarayan Satsang Balance Sheet. 31 March 2024 31J.24 Total fuDds 31.3.23 Totsl fimds Unrestricted Restricted fullds fund Not¢s FIXED ASSETS Tangibl¢ assets Heiltage a8ts Investment property io li 12 4343328 82,829 4243.828 82.829 735 000 4.335,168 82,399 1690 000 061,657 061,657 6,107.567 CURRENf ASSETS Debtors Cash at bank and ill Iwd 13 89.584 89584 oi 14 4fj7 4 054 768 11N051 44JOi 4144.742 69.049 3440.017 3.509.066 CREDITORS Amounts falling within one year 15 (12&435) (128,435> (158,903) NET CURRENT ASSETS 3 971616 4 OIS917 3.350 163 TOTAL ASSETS LESS CURRENT LIABILTEs I033273 44JOi 10,Im574 9.457.730 NET ASSETS 44JOI 74 9.457 730 The notes forni part of these financial ststen)ents Page 12 eontinua...
Shree Swaminarayan Satsang Balance Sheet- continued 31 March 2024 FUNDS Unrestricted funds.. G¢neral fund Revaluation reserve J7 9,096,749 936 8.526.880 904,553 111033,273 9431433 Restrict¢d funds.. Gencral nd restrict oi TOTAL FUNDS 10 077 574 9 457 730 The financial statemellts wer¢ approv¢d by the Board of Trust¢¢s and JuthoTised foT issue on. and were siglled on its bebalf by.. J.Vok_ Mr L M Vekaria- T1£¢ Mr D D Gami- Tnjstee Tr no*s formpart of these finaDcial ststemey Pag¢ 13
Shree Swaminarayan Satsang C2$h Flow Statement for the year ended 31 March 2024 313.24 31.3.23 Not¢s Casb Ilows from opertlllg activltles Cash generated from operations 707 Net cash provided by opernting activiti&s 583711 707 367 Casb flows from investing 4Ctivities Purchase of tangibl¢ fixeJJ &58¢ts Interest reccived (2S244) {21.935) N¢t cash pmided byl(us¢d in) investing activities Change ID Cash and ¢5h equivalents I the reporting period Cash and cash equivalents at Ihe begitinin2 of the reporting perlod 61<751 699,592 2.740 425 Cash cash equRvalents 4t the elld of the reportlDg pern)d 3440017 The not¢s fornL part of these fiDaticial Ststa)llts Page 14
Shree Swaminarayan Satsang Noles to the Cash Flomt Statement for the year ended 31 March 2024 RECONCILIATION OF NET INCOME TO NKf CASH FLOW FROM OPERATING ACTMTIES 31324 31.3.23 Net income for the reporting perifjd (as per the StstemeDt of fmall¢iai Activities) Adjustments for: Depreciation charg¢s lnvcsttDts Inierest recejved Non-cash donations re1ved (tllcrease)Idecrease in d¢btOTS (Decrea8¢yincre&5¢ in creditOTS 619,844 449,988 116J84 {45,11110) (S6.284) (22.430) (20,535) 468 115.511 135,000) (14,160) (3.775) 170,910 Net t#sh pr(*vidcd by opeyatio 707 367 ANALYSIS OF CHANGES NET FiJNDS Movement in At 1.4.23 th¢ period At31J.24 Net e4sh Cash at bank and in hand 614 751 614 751 4 054 768 Debt Debts falling due within l year 27,IMK Total 3,413 017 4 IM9,768 The notes forni part of Ihese fwancial ststem¢nts Page 15
Sbree Swaminarayan Satsang Iyotes to the Finandal Statements for the year ended 31 March 2024 ACCOUNTING POLICIES Bsls of prepring the IlnDcial statements The financial ststements of the clwity. which is a public bettefit entity under FRS 102. have been prepared in accordance with the Charities SOBTr IFRS 1021 'Accountin¥ and Reporting by Chille5. Staiement of Recommended Practice applicable to charities preparing (heir acwunts in accordance with ihe finanrial Reporting Standard applicable in lh¢ UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 Tr Financial Reporting Stsndard applicabl¢ in the UK Alld Republic Of Ireland and Chari¢i¢s Act 2011. Th¢ fllwncial stsfrnnts havc b¢¢n ppand ullder the bi5torical cost covention. Recognition is initialty at historic ¢ostltransaction value unless ststed ID th¢ accounting policies. The financial statement3 are prepared in sterlin& whi¢h is the fiCtIonal ¢wrY of the ¢ntity. IncomiDg resourc¢s Income isrecognised whenthecharity baseniitlement to fimd& any perfornlanceconditionsatthchedkn the item(s) of in¢ome bavc been met. it is probAble thai the income will b¢ recetyed and tbe amount can be me4sured reliably. Cash donations are reColSed on r¢¢eipt. (Aherdonations andgrallts arer¢cogDised wh¢llreceivable. In tbe evellt that a donationis subject to fulfillin%perforn)ance nditi1)L$b¢(0rethe chastity is entitlcd to tbe fuDd5, the income is deferred and Dot recognised until it is Probable that those conditions will be Sjlfillcd in the reporting period. Income from Gift Aid tax claims is rccogllisd whcrc thc dO[r has confmcd that gift aid can be claimcd olltbeir donation. Any amounts of Gift Aid re¢¢ived in the year by the Y¢ar41 are aGcounted for in income and accrued income in debtors. For l¢¥acies, entitlanent 18 tak¢D on a ca5e-by-c#se ba515 a5 the &arlier of the dale on which: the ¢lwity is aware that probale has been gTanie(L the estate h&8 been finalised and TtifiCatIOn ha5 been mad¢ by the executorfs) to the charity that a distribution will be made, or when a distribution is rer£ived fiom the ¢state. Receipt of a legacy. in whole or in part. is only CODsid¢red probable when the amoullt can be measured reliably and the chaTity has been nolificd of th¢ ¢Xec0 inteniton to make a distribution. Incom¢ from religious seryices, rel4trs to hiring of some parts of the charity's premi5¢9 and ts recogtiised On the ball hire bag tak¢D place. Rental income is r¢cognisryl in a straight line over the leas¢. Interest on funds held on dep)sit is in¢luded whell receivable the amouDt call be measureAI reliably by the ¢barity" this is J)OTmally uponnotification of the int¢restpaid or payable by the bank penditure Expenditute is Tecognised once there is a legal or cons1nve obliwion lo a payll]ellt to a third party. it is probable thai scttlement wiu be required. and th¢ amount of the obligation caD be measured reliably. WheTe costs annot be dirtlY attributed to particular h¢adings they bave been allOted to activities on a basis CODSiSt¢nt with the use of r¢gources. ExpeIlture on charitsble artivities includes the rosts of deliv¢ring serYi¢e8 and other activities undertaken to fijtther the pr[)Se5 of the charity and their aSl&ted support costs. Irr¢coverable VAT is charged &% a co# against the activiry forwhid) the expenditswe wa5 inCUTre Page 16 ¢olltinued...
Shree Swaminarayan Satsang IYote5 to the Financial Statements - continued for the year ended 31 March 2024 AccouNfiNG POLICIES- ¢ottthiued T#n8lble ed ¥s8ets Tangibl¢ assets are initially Tecorded at cost Jnd subsequently stsd at cost less ally accumulated depreciation and Impalrellt losses. DepreelatiDD Depreciation is provided at thc following annual ratG% in to WTitc off each &wt QVU Ats c5timatcd useful lifc. Freehold property - 2/• ly) Cost Fixtiire5 and fittings - 21fA on reducing b4lallce Heritage #ssets H¢ritas¢ a53ets comprise of Idol8 of deities and the jewellery adorning thern, which are displayed in the t¢mple and acce55ible to visitors daily. These iteTDS are designed ID accordance with traditional artistic styles that bave been used in temples for ¢enturies. refjcctitig the Indian religious and adturnl heritsg¢ p&%sed down througb generations. Heritage assets are recorded at cost when 3cquireiL whether by purchas¢ or donation. In ]ine with FRS102, the assels aTe not depreciated, as they are coDsidered to have indefiniie useful lives and th¢irresidual valu¢ 18 unlelY to b¢ less than thcir ¢aTrying amouDL The tDJStees consider tbat any dimillution in vdue is not material. Acqvisition> pre8ervatiott, mnagemeDt dlspoul of herltsge ABSets The charity maintsiDS a register foT its Heritage assets which is available for public insptttion. HeritAge assets arc held and maintained in or(kr to preservc th¢ir historic and cultural sigllifiwi¢¢. Appropriate measures are tsken to ensure th¢ir ongoing protection and prwrvation. The thatity does not Domially di5pTrse off herilag¢ &ssets' should a disposal occur. the pre¢d5 would be appli¢d in accordanre with the charitys objectiveg. typic&IIy ¢owaYds the acquisition orpTeservation of othff heritsge a Inyestment property Investment property, which is pr¢)perty held to earn rentals andlor for capital appreciation, 1$ initially Tecognised at ¢ost, which illcludes the purchasc eogt and any directty atiTibutsble expendimre. Subsequcntly it is measllr at fair value at th¢r¢poiting enddate, The sUlUS or deficitonrevaluation is rQgniSed in the statement of financial activities. Cbaritable fuknds Unrcstrict¢d funds ar¢ available foT U8¢ at the discr¢tion of the Trnsttts in fiwthernKe of their clMritsble objccuves. Rcstri¢i¢d funds arc subj¢¢t to spccific Conditions by donors as to how tbey may Ix used. Thc putyos¢s and u5CS of tbe restticted funds are set out in the notes to the fitiancial srutements. Endowment fid5 are subie¢t to specifft conditions by donors that th¢ ¢apital tnust be maintsined by the charity. Going contern lrt prcparizlg thc fJt)aocial sN¢menty the trustees gre re8pon•l)le for assessirtg the chartty'% shility ta continue as a going ¢onc¢m, disclosin& &s applicabl¢. matters relatrd to going con¢¢m and using the going conrern basis of accounting. The Trustee5 believe that th¢re are no going concern alletS that would affect the Charity for the fore5¢¢able fiLture Page 17 ¢ontinued...
Shree Swaminarayan Satsang Notes to the Financial Statemenls - eontinued for the year ended 31 March 2024 ACCOUNfiNG POIJCIES- comlinued Financial iDstrumeTr¢s The charity only has fmaucial awcts and fuL8ncial IRabilitie5 of a kind that qualify as basi¢ financial insttuments. Basic financial in5trufftenis are inTrtially recogni5ed at transaction valu¢ and 51Jbsequently measured at their settlementvalue. CreditOTg pTh)visions arerecognised where the charity hhs apre5entobligation resulting from a past ¢v¢TrÉ that probably result ID the transfer of fillS to a thwd party. and the atsUnt due to s¢ttle thc obligaiion can bc Jneasurcd or estimatcd reliably. Ctcditors and provisioD5 notmally recognis¢d at thcir s¢tllement aTnount after allowing for any tsade discoun15 du Penslons and other p05t-retlremellt obllgations The charity operates a defined contribution pension scheme which 18 a pension plan under which fixed Contributio are paid into a pension fund and the charity has no legal or n%]CtIVe obligatioD to pay further ¢ontributions ¢ven if the fund does not hold sufficient#ssets to pay &ll employees the benefits re1lg to employce rvice in tb¢ ¢uffent alld priorperiod5. Contributions to defined contribution plans are recognised in the Statemettt of Finatscial Activities wben th¢y are due. If contribution payments exceed tb¢ coDtributiOll due for 5¢nryce. th¢ excess is r¢co]sed as a prepaym¢nt. DONATiof4S AND LEGACIES 31.324 TotAI funds 31.3.23 Total funds Unrestricted R¢stri¢ted funds Donations and gifts 387,029 18.004 4•5.033 355,611 355.611 IIYCOME FROM C[tARABLE AcfivTrtEs 31J.24 31.3.23 Religio 5eTViC¢S Charitable a¢tivities 617 10 456.669 31J.23 Totgl funds 31.3.22 Total nds Unrestricted fundg funds Rental income from investment property Other Interest receivable Soknr rebate 84,258 284 1307 84,258 5A284 1207 82,698 12,398 1.762 141,749 141,749 96.858 Page 18
Sbree Swaminarayan Satsang Notes to the Financial Statements - continued for the year ended 31 Mareh 2024 CHAIUTABLE ACTIVITIES COSTS Support costs (sec nole 7) costs (see note 6) Total 538561 50,687 589,248 CharitAble activitics DTRECT COSTS OF CHARITABLE ACTivrriES Unrestricicd 31324 Total fuDds 31J.23 Tot81 funds R¢strictrd futs 98,238 19,980 39517 25,450 350 12,689 73,664 128,6 98,238 1998D 39,517 25.450 350 22,089 73,664 128,6 460 1,564 85,432 9,516 35,089 16,432 2.080 5.295 55,819 90,645 1,323 1.173 22.907 1,798 Staff costs Rates & wat¢r Li¥ht and hcat Postsge alld stationery AdverÈibiU8 Sundries Premises, repairs & T¢newals Festivals & rwan Motor & travel Bank cbargcs Charitsble donation5 Health & safety Staff trnining and welfare CateTing Depr¢ciation 2.067 1598 2,1167 1598 1,800 116,584 S3861 115,511 443,020 538J61 SUPPORT COSTS Governance costs Total Charitable a¢tivities Suppon CO$ iD¢lud¢d tLth¢ above, are as follows: Otber 313.24 Totsl funds 31.3.23 Totol fjjnds futtds 21.796 &657 711 12,011 21,796 &657 711 12,1123 20,196 9,060 Insurance Telephone Computu software maitit¢Danc¢ Legal & profession fees 10.374 Pag¢ 19 continued...
Shree Swaminarayan Satsang Notes to the Finaneial Statements - CODtinued for the year ended 31 March 2024 SUPPORT COSTS {coDL) Governance costs 31J24 Charitable activities 31.3.23 Total activities Auditor5, remuneratioa Accountancy fees sooo 1500 9,000 TRUSTEES. REMUNERATION AND BENEFITS There were no ttustees, remwieration or other benefits for the year eTrd 31 MaTch 2024 fvT dir yeai" ended 31 Marcb 2023. In addition. no charity Tn received wy payment for profesSioD or other servi¢&s sUpPed to the charity dwing th¢ year (2023.. £DiI) Trll8tees' expenses There w¢re 00 trustees, expe paid for the year ended 31 March 2024 th)r for the year ended 31 March 2023. STAFF COSTS 31.324 31.3.23 Wages and salaries Social security costs Other pension costs 94,808 1,606 81.481 234 98238 85.432 The ¥verage monthly numberof employees during the year was 09 follows: 31J24 31.3.23 No employees receiv emolwnents in excess of £60.<KKJ. P88¢ 20 conlinued...
Shree Swaminarayan Satsang Note$ to the WinaDcial StatemeDts - lltinued for the year eDded 31 March 2024 10. TANGIBLE FIXED KSSETS Fixtures Freelkold proFtrty fittings Toth]s cosr At l April 2023 Additions SOOO,(M 646,934 5,64&934 2S 25 244 44 At 31 March 2024 672.178 5 672 178 DEPRECIATION At l ApTiI 2023 Charge for year 750,IMIO 561,766 lJll,766 At 31 March 2024 IA2 NET BOOK VALUE At 31 Mah 2024 87 78 4 243 828 At 31 March2023 4250.000 85.168 35.168 ii. HERITAGE ASSETS Totsl MARKET VALUE At l April 2023 Additiotjs 82a99 430 At 31 March 2024 82029 NET BOOK VALUE At 31 March 2024 At 31 March 2023 There were no acquisitions. dislS or imFdinnents of heritage as in the years ended 31 Mwch 2020 and 31 March 2021. Acquisitions during the yeats ended 31" Marcb 2U22 8nd 31st March 2023 alljounted to £10,212 and £3,775 respectively. Capitsl COmJllktmettts as at 31 March 2024 totall¢d to £nil (2023: £nil) Page21 continued...
Shree Swaminarayall Satsallg Notes to the ancial Statements - continued for the year ended 31 March 2024 12. INVESTMENT PROPERTY FAIR VALUE At l April 2023 Revaluation 1.690,000 At 31 March 2024 NET BOOK VALUE At 31 March 2024 1 735 OIM At 31 Mareh 2023 1690 000 Fair value at 31 March 2024 is rwesented by: Valuation in 2024 1,735,1100 Tb¢ Charity's iTJvestment properti¢5 were valu1 at fair Vah 08 of 31 Matrh 2024. This valuation was Londucted on 13 Sepiember 2024 by Anderson Wilde Hatri& an i1KirndCnt vaFu¢r with profc3yional Qualifications from the Royal Institution of Chartered Surveyorn ICS). Th¢ valuer und00k the valualion wlth specific reference to th¢ fair value of the properties at 31 Marcb 2024. in accorda])ce with the RICS Code of uring Pwtire. In detennining this fair Value. the valuer considered market Tents and yi¢lds of comparable real estate PTopertie5 as of 31 March 2024, making necessary adjustments for differenc in the assets, nature. location. or conditioD to ensute all accurate and fair vlluation for that date. Upon revi¢w. the trustees h#ve confirn)ed that tbe valuation approwiatcly reflects the investment properties, fair value as of the balanc¢ shKt date. 31 Marth 2024. Te5ulting iti a gain OD revaluation of £45,(KIO for the currcnt y¢ar {2023.. £35.000) being recogDised in the Ststejnent ofFinancial Activity. 13. DEBTORS: AMoiJNfs FALLll¥C DUE wrrHtN ONE YEAR 31J.24 31.3.23 Other debtors 89 69.049 14. CASH AT BANK AND lly HAND 31J24 31,323 Total funds Total funds Pety cash CL8h at bank 14,137 3,996J30 4 010,467 14.137 040.631 17,586 3,396,134 3 440.017 44JOi 44JOi The chatity has no ov¢rdtaft facilitic5 or bank lendiDg that were n¢itlw repayabk on dell or over a period Page 22 continued...
Shree Swaminarayan Satsang Notes to the FiDancial Statements - conlinued for the year ended 31 March 2024 Is. CREDITORS: AMOUNIS FALLING DUE WITHIN ONE YEAR 31J24 31.3.23 Other loaDS (sce note 16) Trade cr¢ditors Other creditots Penskon ¢ontrol Social security and otber IAxes Accrued expcDscs Defenrd inoom¢ lstt notc 17) 5.000 27,0(M) 2,337 28,151 305 738 26,5(K) 30,735 458 3,779 34,000 128A35 158.903 16. LOANS An analysis of the fftaturity of knS is given below. 31J24 31.3.23 Amounts falling due within one year on deman. Concessionary104ns 27,0 The conC&10n8ry loa0$ are Antered fc4 uoscrurrd and repayablc QD d¢man 17. DEFERRED INCOM 2024 2023 D¢f¢rred income broughi fonvard Deferred incorne for the year Amounts released frorn PriOT yeaT5 73572 52J13 50,670 73,872 Deferred in¢ome carried forward DeferT¢d ijkcome relates to aujollnts received in advce for Teiigious s¢rvtees and Tental in¢om¢ received which pettEin to the following fiTwieial yeaT. All such incoll)e is expected io be recognised in full in tbe following y. Page 23 continued...
Shree Swaminarayan Satsang otes to the Financial Statements - continlled for the year ended 31 March 2024 I& MOVEMENT IN FUNDS Analysis of movement fin funds iti the yer Balance at l April 2023 Balance at 31 Matrh 2024 TransfeT5 Unrestricted funds General fuDd$ General RevaluatioD res¢rve Total geer1+1 d5 8.526,880 904.553 1.146.088 (589248) 13,029 (13.029) 9.096,749 936.524 45.0 9,431.433 1.146.088 (589248} 45.1XK> 10.033,273 Re5trl¢ted funds Bhuj Temple Nepal Eartbquake Total restricted funds 6.087 18.(M)4 24.091 20210 20210 28.706 18.004 44,301 Tot1 funds 9.457,730 1,164,092 (589248) 45.(KKI 10,077,574 ADglysis of movement ID funds itt the prlor year Balance at l AprÉl 2022 Gains Balance al 31 March 2023 Irorning ex Unrestrlcted fundb G¢L¢ral fuDd5 General Revaluation reserve Total gtterl nds 8.096.454 899.377 (481.980) 13.029 8,526,880 882,582 35.(XK) (13.029) 904,553 8,979.036 899377 (481.980) 35,000 9,431,433 Restrlcted funds Bhuj Temple Nepal 8.496 9.761 (12.170) 6,087 20.210 20210 Totsl re8tritted fuDds 28.7( 9,761 (12.170) 26,297 Total funds 9.007.742 909.138 (494.150) 35,000 9,457,730 The transf¢rs from general funth to th¢ revaluation fWTve in ¢urr¢nt and prior years relate to excess depr¢ciauon charged on the historic revaluation of freehold property. PuryoBes of restrknd fund5: Bhui TeTnple Fund- Donalion5re1yed forthe SLWP)rt anddeveloprn¢nt of the Shree SwaTninarny2n Ternple in Bhuj. Nepal Disaster Relief Fund- Donatio$ Teceived to provide disastrr relief aid in N¢paL Page 24 continued..
Shree Swaminaray2n Satsang Notes to the Financial Statements - continued for the year ended 31 March 2024 19. EMPLOYEE BENEFIT OBLIGATIONS The charAty operdtes a defined conthl)utiOn pension 5chenTre. The p¢nsion cost charge for the year represents ContributiopaYbIt by the Charity to the scheme and amoullted to £1,764 (2023: £3.717), CODtrAbutions totslling £45812023.. £3051 were payable to th¢ Scheme at the ¢lld of the yeaT end and includeAI in Credit. 20. RELATED PARTY DISCLOSURVS Tbc foll(Trwing trustCC5 attd previous tru5tets wcrc bolding propcrty in lieu of th¢ charity. Cuff¢nt trustees.. Mr D D Gallji Mr K R Patel Previous thjstees: Mr H l Halal Mr M K VaTsani MrNHGami Mr D D Patel During the year, there were no rdated party tialonS and no balall$ outstslldi08 Witb trlatrd parti. In additio therc were no doDatioJs r¢ceiv¢d from relat parties outsid¢ tIL¢ norTDttI course of busin¢ss, ¥nd no tricted doDatiolls were rx¢iv¢d from rclatrd partics. 21. TAXATION The chariry is exempt ftom CoTP)Trtion Tax as all its iocome is charitabk and is applid for cbaritable PUqK)ses. The charity is considered to the tests set out in Paragraph I Schcdule 6 Finance act 2010 atml therefore it meets the definition of a charitable company for UK c0nx)rdtio t&x pryses. Accordingly, the charity is potenlially Exempt frorn taxation in r¢spect of income or capital gains rxeived within categories Cover by C.h8Pter 3, part I I Corpordtion Tax Act 2010 or Section 256 of th¢ Taxation of Chargeable Gains Act 1992, to the extent that su¢h income or gains aTe applied exclusiv¢ly to charitsble PUTPOSes. Poge 25