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← Atma Vignani Dada Bhagwan Foundation

2023-04-05-accounts

Charity Registration No. 1097197

ATMA VIGNANI DADA BHAGWAN FOUNDATION

TRUSTEES' REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023

ATMA VIGNANI DADA BHAGWAN FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr R B Patel Mr P J Karia Mr C M Mistry Mrs H B Patel Dr S S Patel Mr P V Shah Dr D S Patel Charity number 1097197 Principal address Unit 2 Columbus House Stonefield Way Ruislip Middlesex HA4 0JA Auditors Gerald Edelman LLP 73 Cornhill London EC3V 3QQ Bankers Barclays Bank 15/17 Bridge Street Pinner Middlesex

ATMA VIGNANI DADA BHAGWAN FOUNDATION

CONTENTS

Page
Trustees' report 1 - 6
Statement of trustees' responsibilities 7
Independent auditors' report 8 - 11
Statement of financial activities 12
Balance sheet 13
Cash flow statement 14
Notes to the accounts 15 - 20

ATMA VIGNANI DADA BHAGWAN FOUNDATION

TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2023

The Trustees present their report and accounts for the year ended 5 April 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 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)” (as amended for accounting periods commencing from 1 January 2019)

Objectives and activities

Objects

The objectives of the charity are:

Strategies employed to achieve the charity's objectives include to:

Public Benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commissioner's general guidance on Public Benefit when reviewing the Trust's aims and objectives and in planning future activities. The trustees consider that the charity's aim are demonstrably to the public benefit.

Achievements and performance

As we reflect on the events and milestones of the past year, we are pleased to present the Annual Report for the period of 2022-2023. It has been a year filled with spiritual celebrations, growth, and community engagement. Here are some of the key highlights:

Shri Simandhar Swami Janmakalyanak – 24th April 2022

To commemorate this auspicious occasion, BMHT/LMHT kids engaged in the Prakshal of a small Simandhar Swami idol during their sessions. Mahatmas celebrated by watching a special video, offering prayers, and performing Prakshal with deep devotion to the sounds of Live Akram Bhakti.

Special Satsang Highlights – Part 100 Film Show 30th April 2022

A remarkable event taking us down memory lane with glimpses from the previous 99 highlights over the past 8 years. Mahatmas in key UK centers enjoyed the show in true cinema style, relishing popcorn and camaraderie.

Pujyashree’s Birthday 8th May 2022

A festive day celebrated with humility and oneness, reflecting the qualities embodied by Pujyashree. Devotees prayed for strength to emulate his humility.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023

Pujyashree Satsang Tour – 30th May – 6th June 2022

Pujyashree’s annual visit included a Platinum Jubilee weekend, starting with satsang and Gnan Vidhi in Harrow, followed by a 5-day Retreat/Shibir at Pontins Pakefield. The theme 'Platinum Jubilee' marked both Her Majesty's landmark year and Pujyashree’s 70th Birthday.

Highlights of the Shibir

Akram Bhakti Night

Akram Street Party

Akram Parade

Akram Show – The Real Royal

Pujya Niruma’s Gnan Day Sunday 10th July 2022

A day dedicated to remembering Pujya Niruma with a special DVD, dedicated Bhakti, and devotional artis. GNC kids focused on learning about Niruma, the Mother of the World.

Gurupurnima Sunday 17th July 2022

Celebrated in person after a two-year gap, the joyous occasion was split into North and South celebrations at three locations – Dada Darshan Ruislip, Dada Darshan Leicester, and Ashton-under-Lyne.

Rakshabandhan Sunday 14th August 2022

A day of celebrating the bond between brothers and sisters, fostering love and unity.

Janmashtami Friday 19th August 2022

Enjoyed through a live stream from India, with special Janmashtami food and lively Matkifod and Garba dance.

Samvatsari Sunday 4th September 2022

Culminating the 7-day Paryushan festival, mahatmas sought forgiveness through Akram Bhakti songs and GNC kids learning about the power of saying sorry through the Magic Eraser video.

Navratri Sunday 2nd October 2022

Marked by prayers, special satsang, and joyous Garba dancing in the afternoon.

Diwali Chopda Pujan Monday 24th October 2022

Families celebrated the festival of lights through Chopda Pujan, sweet-making, Bhakti livestream, Gnan Annkut viewing, and artis.

Bestu Varash Arti Wednesday 26th October 2022

Mahatmas ushered in the Indian new year with colorful traditional clothes, Darshan, artis, and prayers.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023

Dada’s 115th Janmajayanti Sunday 6th November 2022

A celebration of Dadashri’s mission with vidhis, a special DVD, live Bhakti, GNC presentation, artis, and Mahaprasad.

Pujya Niruma’s Birthday Sunday 4th December 2022

The 79th Birthday of ‘Mother of the World’ Pu. Niruma celebrated with love, devotion, Live Akram Bhakti, GNC presentation, and cake cutting.

Param Pujya Dadashri’s Punyatithi Sunday 1st January 2023

Mahatmas gathered to celebrate the New Year and commemorate Dadashri’s Death anniversary with a resolution for self-realization.

74th Republic Day of India Monthly Shibir Sunday 29th January 2023

A day of patriotism and spiritual reflection, emphasizing the guidance of Dadashri’s Gnan.

Mahashivratri Sunday 19th February 2023

Mahatmas came together to learn about becoming a true ‘Shiv’ and turning darkness into light through the tools given by Dadashri.

Pujyashree’s Gnan Day – Sunday 5th March 2023

Honoring the spiritual journey of Pujyashree, marked with performances by children showcasing Gnani’s qualities.

Pujya Niruma’s Punyatithi Sunday 19th March 2023

Remembering Pujya Niruma on her death anniversary through a special DVD, Live Akram Bhakti, and GNC presentation.

Workshops

New age spirituality workshops for Gnan seekers conducted at 4 locations – Cambridge, Kent, Ashton-underLyne, Dada Darshan Ruislip, and Leicester.

GNC Kids and Youths

Summer camps, badminton tournaments, and bowling days organized for GNC kids and youths, promoting spiritual learning alongside fun and games.

Akram Bhakti Group

Contributed actively to the Foundation by providing Bhakti at 12 Key Satsang events and 3 Akram funeral services.

Leicester Centre

Mahatmas in Leicester Centre celebrated key events in the newly acquired building, fostering enthusiasm and festive spirit among adults, youths, and kids.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023

Donations

The charity donated £300,000 to Simandhar Swami Aradhna Trust towards the construction of temples at Bhavnagar and the new Aptasankul to spread the Akram science.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023

Overall Reflection

This year marked a return to the normal pre-COVID schedule, with mahatmas physically attending centre events, embodying the spirit of community and spiritual growth.

We express gratitude to all volunteers, and supporters who have contributed to making this year a remarkable journey of spiritual growth and celebration. Together, we look forward to another year of collective progress and spiritual enlightenment.

Financial review

The net income for the year amounted to £101,320 (2022 Expenditure £66,352) after the deduction of unrealised investment losses of £4,419.

Total income was £615,162 (2022: £533,191). Income from donations was £610,177 (2022- £532,934).

Total expenditure was £509,423 (2022; £731,864). The majority of such expenditure related to the funding of charitable projects of £505,426 as detailed in note 4. Support and governance costs totalled £31,409 (2022: £35,434).

The charity had unrestricted reserves at 5 April 2023 of £1,221,528 (2022: £1,128,425) as represented by net current assets. The Trustees believe that it is necessary to hold such reserves to finance their ongoing planned expenditure and commitments as well as an adequate reserve for unforseen contingincies.

The trust held quoted investments as at 5 April 2023 of £746,440. A revaluation loss of £4,419 was deducted from the Statement of Financial Activities in the year.

Structure, governance and management

The charity is an unincorporated trust and was established by a charitable trust deed on 23 June 2002.

The Trustees who served during the year were: Mr R B Patel Mr P J Karia Mr C M Mistry Mrs H B Patel Dr S S Patel Mr P V Shah Dr D S Patel

Th trustees are appointment in line with charity's rule D1-3.

AVDBF is fortunate to have trustees from diverse backgrounds and with a range of skills. These include financial, business. experience of the community and voluntary sector, health and social care sector. New Trustees are appointed from the supporters of the Trust by the Board to expand the existing skills as necessary.

The Board of Trustees administer the charity. No member has executive authority and at least two Trustees are required to make decisions on any financial matter relating to the charity. Regular meetings of the Board are held to progress the business of the charity. There are no paid staff and all members work on a voluntary basis.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Disclosure of audit information

Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

Auditors

Gerald Edelman LLP as auditors have expressed their willingness to continue in office and a proposal for their re-appointment will be put forward at the next annual general meetings.

On behalf of the board of Trustees

Mr P V Shah Trustee Dated: 30 January 2024

ATMA VIGNANI DADA BHAGWAN FOUNDATION

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these accounts, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

INDEPENDENT AUDITORS' REPORT

TO THE TRUSTEES OF ATMA VIGNANI DADA BHAGWAN FOUNDATION

Opinion

We have audited the financial statements of Atma Vignani Dada Bhagwan Foundation ('the charity') for the year ended 5 April 2021 which comprises the statement of financial activties, the balance sheet, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and -have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

INDEPENDENT AUDITORS' REPORT (CONTINUED)

TO THE TRUSTEES OF ATMA VIGNANI DADA BHAGWAN FOUNDATION

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of Trustees responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlines above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

•The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.

•Enquiring of management of whether they are aware of any non-compliance with laws and regulations.

•Enquiring of management whether they have knowledge of any actual, suspected or alleged fraud.

•Enquiring of management their internal controls established to mitigate risk related to fraud or non-compliance with laws and regulations.

•Discussions amongst the engagement team on how and where fraud might occur in the financial statements and any potential indicators of fraud. As part of this discussion, we identified potential for fraud in the following areas; posting of unusual journals.

•Obtaining understanding of the legal and regulatory framework the company operates in focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations. The key laws and regulations we considered in this context included UK Charities Act, tax legislation,data protection, anti-bribery and health and safety.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

INDEPENDENT AUDITORS' REPORT (CONTINUED)

TO THE TRUSTEES OF ATMA VIGNANI DADA BHAGWAN FOUNDATION

Audit response to risks identified

Fraud due to management override

To address the risk of fraud through management bias and override of controls, we:

•Performed analytical procedures to identify any unusual or unexpected relationships.

•Audited the risk of management override of controls, including through testing journal entries for appropriateness

•Assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias; and

•Investigated the rationale behind significant or unusual transactions.

Irregularities and non-compliance with laws and regulations

In response to the risk of irregularities and non compliance with laws and regulations, we designed procedures which included, but are not limited to:

•Agreeing financial statements disclosures to underlying supporting documentation.

•Reviewing minutes of meetings of those charged with governance.

The test nature and other inherent limitations of an audit, together with the inherent limitations of any accounting and internal control system, mean that there is an unavoidable risk that even some material misstatements in respect of irregularities may remain undiscovered even though the audit is properly planned and performed in accordance with ISAs (UK). Furthermore, the more removed that laws and regulations are from financial transactions, the less likely that we would become aware of non-compliance.

Our examination should therefore not be relied upon to disclose all such material misstatements or frauds, errors or instances of non-compliance that might exist. The responsibility for safeguarding the assets of the charity and for the prevention and detection of fraud, error and non-compliance with law or regulations rests with the trustees.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

INDEPENDENT AUDITORS' REPORT (CONTINUED)

TO THE TRUSTEES OF ATMA VIGNANI DADA BHAGWAN FOUNDATION

Other matters

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with '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)' in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

This report is made solely to the charity's trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purposes. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Asgher Sultan FCCA (Senior Statutory Auditor) Gerald Edelman LLP

Chartered Accountants Statutory Auditor

73 Cornhill London EC3V 3QQ

Dated: 30 January 2024

ATMA VIGNANI DADA BHAGWAN FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023

Unrestricted
Restricted
funds
funds
Notes
£
£
Income from:
Donations and legacies
2
610,177
-
Investment income
3
2,141
-
Other income
2,844
-
Total income
615,162
-
Expenditure on:
4
Charitable activities
509,423
-
Net (expenditure)/income before
investment returns
105,739
-
Other recognised gains and losses
Gains/(losses) on investment
assets
(4,419)
-
Net (expenditure)/ income for the year
101,320
-
Fund balances at 6 April 2022
4,657,686
243,909
Fund balances at 5 April 2023
4,759,006
243,909		 Total
2023
£
610,177
2,141
2,844
615,162
509,423
105,739
(4,419)
101,320
4,901,595
5,002,915		 Total
2022
£
532,934
107
150
533,191
731,864
(198,673)
132,321
(66,352)
4,967,947
4,901,595

ATMA VIGNANI DADA BHAGWAN FOUNDATION

BALANCE SHEET

AS AT 5 APRIL 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 7 3,034,947 3,022,311
Investments 8 746,440 750,859
3,781,387 3,773,170
Current assets
Debtors 9 200,606 1,649
Cash at bank and in hand 1,251,092 1,168,406
1,451,698 1,170,055
Creditors: amounts falling due within
one year 10 (230,170) (41,630)
Net current assets 1,221,528 1,128,425
Total assets less current liabilities 5,002,915 4,901,595
Income funds
Restricted funds 11 243,909 243,909
Unrestricted funds: 4,759,006 3,992,431
5,002,915 4,901,595

The accounts were approved by the Trustees on 30 January 2024.

.............................. Dr S S Patel Trustee

ATMA VIGNANI DADA BHAGWAN FOUNDATION

CASH FLOW STATEMENT FOR THE YEAR ENDED 5 APRIL 2023

Notes
Net cash inflow from operating activities
13
Capital expenditure
Payments to acquire tangible fixed assets
Net cash inflow from capital expenditure
Increase in cash
Balance brought forward
Balance carried forward		 (16,895) 2023
£
99,581
(16,895)
82,686
1,168,406
1,251,092		 - 2022
£
1,242
-
1,242
1,167,164
1,168,406

ATMA VIGNANI DADA BHAGWAN FOUNDATION

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023

1 Accounting policies

1.1 Basis of preparation

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 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)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

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 £.

Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.2 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

All other income is included in the accounts on an accruals basis.

1.3 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to the expenditure. All resources expended are accounted for on an accruals basis and the irrecoverable element of VAT is included in the expense to which it relates

.

Charitable expenditure includes payments made to third parties in the furtherance of the charitable activities of the Trust. Grants are recognised in the accounts when paid or when the Trustees have agreed to pay the grant without condition. Charitable expenditure also includes support costs incurred regarding the provision and supervision of charitable projects. Support costs include governance costs represented by audit costs and other professional fees incurred in connection with the meeting of the charity's constitutional and statutory obligations.

1.4 Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land 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, fittings & equipment 25% on a reducing balance method

Freehold land and buildings held for charity use are included at cost as allowed by the Statement of Recommended Practice.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023

1 Accounting policies

(Continued)

1.5 Investments

Investments are stated at market value. Realised and unrealised gains and losses on investments are dealt with in the Statement of Financial Activities.

1.6 Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular purposes within the objects of the charity. Restricted funds are funds subject to specific conditions imposed by donors as to how they may be used.

1.7 Taxation

As a registered charity it is exempt from tax on its activities which fall within the scope of part 10 ITA 2007 and section 256 of the Taxation of Chargeable Gains Act 1992.

2 Donations and legacies

General donations
3
Investment income
Interest receivable		 2023
£
610,177
2023
£
2,141		 2022
£
532,934
2022
£
107

ATMA VIGNANI DADA BHAGWAN FOUNDATION

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023

4 Expenditure

Expenditure
Charitable activities
Activities supported in India and UK
Support costs
Governance costs		 Other
costs
£
-
27,412
27,412
3,997
31,409		 Grant
funding
£
478,014
-
478,014
-
478,014		 Total
2023
£
478,014
27,412
505,426
3,997
509,423		 Total
2022
£
696,430
30,634
727,064
4,800
731,864

Governance costs includes payments to the auditors of £3,000 (2022: £4,800) for audit fees and for Trustees indemnity insurance of £997.

5 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. No expenses were refunded to the trustees in the year.

6 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
- -

ATMA VIGNANI DADA BHAGWAN FOUNDATION

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023

7 Tangible fixed assets

Tangible fixed assets
Cost
At 6 April 2022
Additions
At 5 April 2023
Depreciation
At 6 April 2022
Charge for the year
At 6 April 2021 and 2022
Net book value
At 5 April 2023
At 5 April 2022		 Land and
buildings
Fixtures,
fittings &
equipment
£
£
3,022,172
5,717
-
16,895
3,022,172
22,612
-
5,578
-
4,259
-
9,837
3,022,172
12,775
3,022,172
139		 Total
£
3,027,889
16,895
3,044,784
5,578
4,259
9,837
3,034,947
3,022,311

All tangible fixed assets are held for charity use.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

8 Fixed asset investments

Market value at 6 April 2022
Change in value in the year
Market value at 5 April 2023
Historical cost:
At 5 April 2023
At 5 April 2022		 £
750,859
4,419
746,440
461,081
461,081

Investments are all UK stocks.

9
Debtors
Other debtors
Prepayments and accrued income
10
Creditors: amounts falling due within one year
Accruals
Deferred income		 2023
£
76,126
124,480
200,606
2023
£
3,000
227,170
230,170		 2022
£
1,649
-
1,649
2022
£
4,800
36,830
41,630

11 Restricted funds

The charity had restricted funds as at 5 April 2023 of £243,909 which represents the contributions from donors towards the cost and running of tangible fixed assets for charity use.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2023

12 Analysis of net assets between funds

£
£
Unrestricted
funds
Restricted
funds
Fund balances at 5 April 2023 are represented by:
Tangible fixed assets
2,791,038
243,909
Investments
746,440
-
Current assets
1,451,698
-
Creditors: amounts falling due within one year
(230,170)
-
4,759,006
243,909
Unrealised gains included above:
On investments
285,359
-
Reconciliation of movements in unrealised gains
Net gains on revaluations in year
(4,419)
-
13
Net cash inflow from operating activities
Reconciliation to changes in resources
Changes in resources before revaluations
Depreciation of tangible fixed assets
(Increase)/decrease in debtors
Increase in creditors		 £
£
Unrestricted
funds
Restricted
funds
Fund balances at 5 April 2023 are represented by:
Tangible fixed assets
2,791,038
243,909
Investments
746,440
-
Current assets
1,451,698
-
Creditors: amounts falling due within one year
(230,170)
-
4,759,006
243,909
Unrealised gains included above:
On investments
285,359
-
Reconciliation of movements in unrealised gains
Net gains on revaluations in year
(4,419)
-
13
Net cash inflow from operating activities
Reconciliation to changes in resources
Changes in resources before revaluations
Depreciation of tangible fixed assets
(Increase)/decrease in debtors
Increase in creditors		 2023
£
105,739
4,259
(198,957)
188,540
99,581		 Total
£
3,034,947
746,440
1,451,698
(230,170)
5,002,915
285,359
(4,419)
2022
£
(198,673)
-
199,915
-
1,242
243,909
-
-

14 Related parties

Donations totalling £104,812 (2022: £2,912) were made by the Trustees in the year. No other related party transactions occurred in the year.