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← Atma Vignani Dada Bhagwan Foundation

2024-04-05-accounts

Charity registration number 1097197

ATMA VIGNANI DADA BHAGWAN FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024

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
Auditor ZMS Solutions Limited
17 Shirwell Crescent
Furzton Lake
Milton Keynes
MK4 1GA
Bankers Barclays Bank
15/17 Bridge Street
Pinner
Middlesex

ATMA VIGNANI DADA BHAGWAN FOUNDATION

CONTENTS

Page
Trustees report 1 - 4
Statement of Trustees responsibilities 5
Independent auditor's report 6 - 8
Statement of financial activities 9
Balance sheet 10
Statement of cash flows 11
Notes to the financial statements 12 - 19

ATMA VIGNANI DADA BHAGWAN FOUNDATION

TRUSTEES REPORT

FOR THE YEAR ENDED 5 APRIL 2024

The Trustees present their report and financial statements for the year ended 5 April 2024.

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)" (effective 1 January 2019).

Objectives and activities

Objects

The objectives of the charity are:

Advancement in the United Kingdom and through the Universe of the 'Atma Vignan' spiritual science of self-realisation as envisioned by Dada Bhagwan;

Support and provide activities pertaining to spiritual science and normal worldly education; Provide and support humanitarian aid and such other charitable activities worldwide.

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

Organise satsang meetings to increase the awareness of Spiritual Science as envisioned by Dada Bhagwan;

Distribute books and DVDs on the subject of Spiritual Science;

Organise events around key religious calendar dates, especially for children on themes bases to encourage families to consider spirituality in their lives;

Support organisations in India that have substantially similiar objectives including contributions for the development of temples and venues for events where discourses are held Provide and support humanitarian aid such other charitable activities worldwide.

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.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

Achievements and performance

Pujyashree Satsang Tour (26th March – 18th April)

The year began with a heartfelt welcome for Pujyashree at Heathrow Airport on 26th March, marking a return to preCOVID traditions. Children greeted him with special banners, reflecting the joy of his arrival.

Kent Satsang and Gnan Vidhi (29th-30th March)

Kent hosted its first-ever Gnan Vidhi, with 70 seekers benefiting from this transformative event. An Aptaputra satsang the day prior saw active participation from new seekers and mahatmas alike.

Leicester Satsang and Gnan Vidhi (1st-3rd April)

Leicester enjoyed two days of satsangs and Gnan Vidhi, complemented by an exhibition on “Morality.” On 4th April, the eagerly awaited Pran Pratishtha of Simandhar Swami took place at Dada Darshan Leicester, attended by mahatmas from across the Midlands and London.

UK Shibir: Metamorphosis (6th-10th April)

Held at Pontins Pakefield, this year’s shibir focused on the theme of “Metamorphosis.”

Décor and Displays : The stage was adorned with cherry blossom and pastel drapes, symbolizing spring. Creative displays connected the four Kashays to natural elements, culminating in the liberation of the soul depicted through white doves.

Welcome and Reflection : GNC children welcomed Pujyashree with handmade Easter bonnets and renewed vows to apply Gnan. Afternoon activities ranged from dancing and yoga to interactive games and creative workshops.

Cultural Highlights : The Akram Show featured dramas, comedy skits, and lyrical dances illustrating spiritual transformation. The grand finale saw participants uniting in a lively flash mob.

Key Events and Celebrations

Sevarthis Evening (12th April): London’s sevarthis gathered for an inspiring session with Pujyashree. Children presented a handmade wooden Mandala card for his 70th birthday.

Dada Darbar and London Satsang (13th-17th April): A well-attended event with 150 seekers benefiting from Gnan Vidhi. A Harry Potter-themed exhibition creatively illustrated spiritual principles.

Pranpratishtha Ceremony : Small idols of Simandhar Swami were consecrated at Harrow on 17th April amidst devotional songs and garba.

Picnic at St Albans (18th April): Despite cold weather, mahatmas enjoyed a visit to St Albans Cathedral and Verulamium Park, concluding with an informal satsang.

Other Highlights

Festivals : Events like Gurupurnima (9th July), Navratri (15th October), Diwali (12th November), and Dada’s Janma Jayanti (26th November) brought together mahatmas in joyous celebration.

Special Tours : The Aptaputra Satsang tour (22nd September – 9th October) spanned 16 centers across the UK, offering satsangs and one-on-one sessions.

Workshops and Shibirs : Regular sessions refreshed mahatmas’ understanding of the Five Agnas, while regional shibirs in the Midlands and South enhanced community bonds.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

Youth and Children Initiatives

GNC Groups : Activities for age groups 5-18 years included workshops on topics like purity, competition, and happiness. Summer camps provided enriching experiences through games, crafts, and interactive sessions.

Book Club : Virtual sessions explored themes like adjustment, intellect, and influence.

YMHT Camps : Focused on practical life skills and Gnan principles, these camps encouraged discussions on social media, happiness, and spiritual growth.

Community Outreach : The GNC Christmas party welcomed new families, offering a platform to introduce Dada’s teachings.

Donations

The trust contributed £600,000 towards the construction of the Bhavnagar temple, supporting this significant spiritual project with the intent to provide a place for devotion and inner growth for the community.

This year was marked by vibrant satsangs, meaningful celebrations, and profound spiritual growth. With the grace of the Gnani, mahatmas continue to blossom in Gnan and strive toward ultimate liberation.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

Financial review

The net (expenditure)/income for the year amounted to (£1,039) (2023: £101,320) after the adjustment of unrealised investment gain/(losses) of £163,560 (2023: (£4,419)).

Total income was £854,895 (2023: £615,162). Income from donations was £847,149 (2023: £610,177).

Total expenditure was £1,019,494 (2023: £509,423). The majority of such expenditure related to the funding of charitable projects of £994,725 (2023: £478,014) as detailed in note 5. Support and governance costs totalled £24,769 (2023: £31,409).

The charity had unrestricted reserves at 5 April 2024 of £1,053,318 (2023: £1,221,528) 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 unforeseen contingencies.

The trust held quoted investments as at 5 April 2024 of £910,000 (2023: £746,440).

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 and up to the date of signature of the financial statements 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

Recruitment and appointment of trustees

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

Atma Vignani Dada Bhagwan Foundation 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.

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.

The Trustees report was approved by the Board of Trustees.

Dr S S Patel Trustee

Mr P V Shah Trustee

30 January 2025

ATMA VIGNANI DADA BHAGWAN FOUNDATION

STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 5 APRIL 2024

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

The law applicable to charities in England and Wales requires the trustees to prepare financial statements 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 financial statements, 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 financial statements 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 AUDITOR'S 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 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and 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 Financial Reporting Standard 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:

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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

ATMA VIGNANI DADA BHAGWAN FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ATMA VIGNANI DADA BHAGWAN FOUNDATION

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.

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 noncompliance 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 charity 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, employment and health and safety.

Audit response to risks identified

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.

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. Enquiring of management as to actual and potential litigation claims. Reviewing correspondence with HMRC.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ATMA VIGNANI DADA BHAGWAN FOUNDATION

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.

Other matters

Your attention is drawn to the fact that the charity has prepared 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)" (as amended) 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.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed. Asgher Sultan (Senior Statutory Auditor) for and on behalf of ZMS Solutions Limited 30 January 2025 Chartered Certified Accountants ‘ Statutory Auditor 17 Shirwell Crescent

17 Shirwell Crescent Furzton Lake Milton Keynes MK4 1GA

ZMS Solutions Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 5 APRIL 2024

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2024 2024 2024 2023 2023 2023
Notes £ £ £ £ £ £
Income from:
Donations and legacies 3 847,149 - 847,149 610,177 - 610,177
Investments 4 7,746 - 7,746 4,985 - 4,985
Total income 854,895 - 854,895 615,162 - 615,162
Expenditure on:
Charitable activities 5 1,019,494 - 1,019,494 509,423 - 509,423
Total expenditure 1,019,494 - 1,019,494 509,423 - 509,423
Net gains/(losses) on
investments 9 163,560 - 163,560 (4,419) - (4,419)
Net income/(expenditure) and Net income/(expenditure) and
movement in funds (1,039) - (1,039) 101,320 - 101,320
Reconciliation of funds:
Fund balances at 6 April 2023 Fund balances at 6 April 2023 4,759,006 243,909 5,002,915 4,657,686 243,909 4,901,595
Fund balances at 5 April 2024 4,757,967 243,909 5,001,876 4,759,006 243,909 5,002,915

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

BALANCE SHEET

AS AT 5 APRIL 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 11 3,038,558 3,034,947
Investments 12 910,000 746,440
3,948,558 3,781,387
Current assets
Debtors 13 41,176 200,606
Cash at bank and in hand 1,036,142 1,251,092
1,077,318 1,451,698
Creditors: amounts falling due within 14
one year (24,000) (230,170)
Net current assets 1,053,318 1,221,528
Total assets less current liabilities 5,001,876 5,002,915
Net assets excluding pension liability 5,001,876 5,002,915
The funds of the charity
Restricted income funds 15 243,909 243,909
Unrestricted funds 4,757,967 4,759,006
5,001,876 5,002,915

The financial statements were approved by the trustees on 30 January 2025

Dr S S Patel Mr P V Shah Trustee Trustee

ATMA VIGNANI DADA BHAGWAN FOUNDATION

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 5 APRIL 2024

2024 2023
Notes £ £ £ £
Cash flows from operating activities
Cash (absorbed by)/generated from 19
operations (213,623) 94,596
Investing activities
Purchase of tangible fixed assets (9,073) (16,895)
Investment income received 7,746 4,985
Net cash used in investing activities (1,327) (11,910)
Net cash used in financing activities - -
Net (decrease)/increase in cash and cash
equivalents (214,950) 82,686
Cash and cash equivalents at beginning of year 1,251,092 1,168,406
Cash and cash equivalents at end of year 1,036,142 1,251,092

ATMA VIGNANI DADA BHAGWAN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024

1 Accounting policies

Charity information

Atma Vignani Dada Bhagwan Foundation is a socio-spiritual non-profit organisation formed with the goal of spreading peace, harmony and ultimate bliss across the UK. The charity operates from Unit 2, Columbus House, Stonefield Way, Ruislip, Middlesex, HA4 0JA.

The foundation is an unincorporated charity registered in England with the Charity Commission under Charity registration number 1097197.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended 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). 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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 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.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

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.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings Held at cost -held for charity use Fixtures and fittings 25% on reducing balance method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2024

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 847,149 610,177

ATMA VIGNANI DADA BHAGWAN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024

4 Income from investments

Unrestricted Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 7,746 4,985
Expenditure on charitable activities
Other costs Grant Total Other costs Grant Grant
Total
funding funding
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Direct costs
Depreciation and
impairment 5,462 - 5,462 4,259 - 4,259
Activities supported in
India and UK
- 994,725 994,725 - 478,014 478,014
Support costs 13,576 - 13,576 23,153 - 23,153
19,038 994,725 1,013,763 27,412 478,014 505,426
Share of support and governance costs (see note ) Share of support and governance costs (see note ) Share of support and governance costs (see note )
Governance 5,731 - 5,731 3,997 - 3,997
24,769 994,725 1,019,494 31,409 478,014 509,423
Analysis by fund
Unrestricted funds 24,769 994,725 1,019,494 31,409 478,014 509,423

5 Expenditure on charitable activities

Governance costs includes payments to the auditors of £3,000 (2023: £3,000) for audit fees and insurance cost.

Support cost is mainly consisting of utility bills and general maintenance of the properties.

6

Net movement in funds 2024 2023
£ £
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets 5,462 4,259

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2024

8 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

9 Gains and losses on investments

Unrestricted Unrestricted
funds funds
2024 2023
Gains/(losses) arising on: £ £
Revaluation of investments 163,560 (4,419)

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11 Tangible fixed assets

Tangible fixed assets
Freehold land Fixtures and Total
and buildings fittings
£ £ £
Cost
At 6 April 2023 3,022,172 22,612 3,044,784
Additions - 9,073 9,073
At 5 April 2024 3,022,172 31,685 3,053,857
Depreciation and impairment
At 6 April 2023 - 9,837 9,837
Depreciation charged in the year - 5,462 5,462
At 5 April 2024 - 15,299 15,299
Carrying amount
At 5 April 2024 3,022,172 16,386 3,038,558
At 5 April 2023 3,022,172 12,775 3,034,947

All tangible fixed assets are held for charity use. The titles to properties belonging to the charity are held by the following Trustees: Mr R B Patel, Dr S S Patel, Mr D S Patel, Mr P V Shah and Mr C M Mistry.

ATMA VIGNANI DADA BHAGWAN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2024

12 Fixed asset investments

Listed Listed
investments
£
Cost or valuation
At 6 April 2023 746,440
Valuation changes 163,560
At 5 April 2024 910,000
Carrying amount
At 05 April 2024 910,000
At 05 April 2023 746,440
Investments are all traded in the UK stock exchange.
13 Debtors
2024 2023
Amounts falling due within one year: £ £
Other debtors - 76,126
Prepayments and accrued income 41,176 124,480
41,176 200,606
14 Creditors: amounts falling due within one year
2024 2023
£ £
Accruals and deferred income 24,000 230,170

15 Restricted funds

The charity had restricted funds as at 5 April 2024 of £243,909 (2023: £243,909) which represents the contributions from donors towards the cost and running of tangible assets for charity use.

At 6 April At 5 April
2023 2024
£ £
243,909 243,909

ATMA VIGNANI DADA BHAGWAN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2024

15 Restricted funds

Restricted funds (Continued)
Previous year: At 6 April At 5 April
2022 2023
£ £
243,909 243,909

16 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 6 April At 6 April Incoming Resources Gains and At 5 April
2023 resources expended losses 2024
£ £ £ £ £
General funds 4,759,006 854,895 (1,019,494) 163,560 4,757,967
Previous year: At 6 April Incoming Resources Gains and At 5 April
2022 resources expended losses 2023
£ £ £ £ £
General funds 4,657,686 615,162 (509,423) (4,419) 4,759,006
Analysis of net assets between funds Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 5 April 2024:
Tangible assets 2,794,649 243,909 3,038,558
Investments 910,000 - 910,000
Current assets/(liabilities) 1,053,318 - 1,053,318
4,757,967 243,909 5,001,876
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
At 5 April 2023:
Tangible assets 2,791,038 243,909 3,034,947
Investments 746,440 - 746,440
Current assets/(liabilities) 1,221,528 - 1,221,528
4,759,006 243,909 5,002,915

17 Analysis of net assets between funds

ATMA VIGNANI DADA BHAGWAN FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2024

18 Related party transactions

Donations totalling £7,312 (2023: £104,812) were made by the Trustees in the year. No other related party transactions occurred in the year.

19 Cash generated from operations 2024 2023
£ £
(Deficit)/surpus for the year (1,039) 101,320
Adjustments for:
Investment income recognised in statement of financial activities (7,746) (4,985)
Fair value gains and losses on investments (163,560) 4,419
Depreciation and impairment of tangible fixed assets 5,462 4,259
Movements in working capital:
Decrease/(increase) in debtors 159,430 (198,957)
(Decrease)/increase in creditors (206,170) 188,540
Cash (absorbed by)/generated from operations (213,623) 94,596

20 Analysis of changes in net funds

The charity had no material debt during the year.