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2021-12-31-accounts

Charity Registration No. 1104605

RAGHUVANSHI MAHAJAN LONDON ('RAMA')

(SHREE JALARAM MANDIR - GREENFORD) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Rashmi Jamnadas Chatwani
Sharad Trikamlal Bhimjiyani (Resigned on 18 August 2022)
Mansukh Morjaria
Prakash Gandecha
Praful Radia
Laxmidas Tulsidas Popat
Cllr Rajnikant Chhotalal Khiroya
Rajnikant Samji Davda
Asmita Masrani
Jayendrakumar Hansraj Morjaria
Kishorkumar Dayalal Ghelani
Shaneel Hirani
Vinodlal Manilal Kanabar
Charity number 1104605
Principal address Shree Jalaram Temple
39-45 Oldfield Lane South
Greenford
Middlesex
UB6 9LB
Auditor RMR Partnership LLP
Vyman House
104 College Road
Harrow
HA1 1BQ
Bankers Barclays Bank Uk PLC
1 Churchill Place
London
E14 5HP
United Kingdom
Lloyds Bank
25 Gresham Street
London
EC2V 7HN

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) LEGAL AND ADMINISTRATIVE INFORMATION

Natwest 50 Broadway Westminster London SW1H 0BL Metro Bank 1 Southampton Row London WC1B 5HA Bank of Baroda 86 The Broadway Southall UB1 1QD

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) CONTENTS

Page
Trustees' report 1 - 4
Statement of trustees' responsibilities 5
Independent auditor's report 6 - 7
Statement of financial activities 8 - 9
Balance sheet 10
Statement of cash flows 11
Notes to the financial statements 12 - 26

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their report and accounts for the year ended 31 December 2021.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s Trust Deed dated 23 May 2004 (amended 29 April 2018), 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 from 1 January 2019).

Objectives and activities

The objects as set out in its Trust Deed are:

The charity's aim is to advance Hindu culture and religion. Also it seeks to promote public education in Hindu culture and religion and to provide facilities in the interest of social welfare to the community residing in the London Boroughs of Ealing, Brent, Harrow, Hillingdon, Hounslow, Barnet, Hammersmith and Richmond-Upon-Thames.

All proposals for grants are generated internally and the trustees regret that external applications will not be considered.

Public Benefit

The trustees have complied with their duty in section 17 of the Charities Act 2011 and guidance issued by the Charity Commission in deciding what activities the RAMA should undertake.

RAMA's policy is to consult and discuss with employees, staff councils and at meetings, matters likely to affect employees' interests.

Information of matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the RAMA continues and that the appropriate training is arranged. It is the policy of the RAMA that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

1

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

Achievements and performance

As part of its activity the Charity operates and maintains a Hindu Temple and Community Centre (Shree Jalaram Mandir Greenford & Community Centre) at Greenford and previously until June 2019 located at Perivale, whilst redevelopment was under way. The Charity operates a community center where a hot kitchen operates 7 days a week. The Charity also provides the financial and operational facilities to celebrate a number of Hindu religious events, ceremonies and activities.

Activities

The Charity during the year provided the following:

  1. Provided approximately three thousand hot meals a week at the Temple center.

  2. Provided on average 200 hot meals a week to the homeless in Central London.

  3. Eye and dental camps were on hold due to Covid.

  4. All children in one school in India were provided with free lunch for the entire year.

  5. Meals for 85,000 plus (approximately) slums kids in last one year. Chhas/Sarbat distribution for patients and their relatives outside Covid centers, approximately to 4,500 plus. Ration kit (lasting for 20 to 25 days for a family) approximately to 250 families, thrice during Covid crisis.

  6. In Madhavpur, we provided oxygen cylinders, wheelchairs, medical equipment, and ration kits to the needy and underprivileged. We provided sewing machines to the ladies of the slum areas enabling them to be self-sufficient.

  7. Between 80 to 100 volunteers give their time every week.

All of the above services were provided free and no fees or costs were charged to anyone. We thank all the sponsors enabling us to provide these services.

Digital bereavement services continued to be provided during 2021, by our inhouse priests. It has been of immense comfort to those who lost their loved ones as their last rites were conducted even during the lock down. Apart from this, the daily broadcast of hymns, discourses etc. kept the community connected.

During the year, The Charity has also joined hands with The Felix Project, Tesco Fair Share and Harrow Food Bank to distribute free food in Central London. With their support, about 49 tons of free food distributed, equating to about 116,871 meals. This is over and above what is done through the community center.

2

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

Financial review

The charity made a surplus of £244,678 (2020: £264,780) and accumulated reserves in surplus of £6,750,391 (2020: £6,505,713) at the year end. The present level of funding is adequate to support the activities of the charity and the Trustees consider the financial position of the Charity to be satisfactory.

Fundraising

The charity takes the fundraising regulations seriously. The charity raises funds through donations received from visitors to the Centre. Fundraising from individuals is carefully controlled following industry guidelines and no cold calling takes place.

Reserves policy

It is the policy of the RAMA that unrestricted funds should aim to be maintained at a level equivalent to between six and twelve month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the RAMA’s current activities while consideration is given to ways in which additional funds may be raised.

Investments

The Trust Deed authorises the trustees to make and hold investments using general funds of the charity.

The Trustees have decided to adopt a cautious approach to investment and have their funds spread in multiple deposit accounts until the funds are needed to repay the loans for the construction of the temple that was completed during the year. A review of the investment policy and returns is undertaken at Trustee meetings during the year.

Key risks

The board of trustees is responsible for the management of the risks faced by the charity. A review of the charity's risk management process is undertaken on a regular basis.

The key controls used by the charity include:

The charity has a focus on non-financial risks arising from fire, health and safety and food hygiene. In order to manage these risks RAMA employs outside professionals to come in and perform checks. For the past few years, the Charity has been awarded 5 stars for its Food and Hygiene.

In 2015, the Charity was awarded "The Innovation Award", by the British Heart Foundation for promoting healthy food.

In addition, courses are run for volunteers, staff and Trustees to ensure hygiene and health and safety regulations are adhered to.

Significant post balance sheet events

The trustees have considered the effect of the Covid-19 outbreak. As the Mandir had to close for a time, as well as being somewhat limited in its operations once it could re-open, the outbreak has caused some disruption to the charity’s activities to date and the trustees consider that a prolonged outbreak is likely to cause further disruption.

However, measures have been taken to mitigate the effects of the disruption as follows:

Accordingly, the trustees have a reasonable expectation that the charity has adequate resources to continue in operation for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

3

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees who served during the year were: Rashmi Jamnadas Chatwani Sharad Trikamlal Bhimjiyani (Resigned on 18 August 2022) Mansukh Morjaria Prakash Gandecha Praful Radia Laxmidas Tulsidas Popat Cllr Rajnikant Chhotalal Khiroya Rajnikant Samji Davda Asmita Masrani Jayendrakumar Hansraj Morjaria Kishorkumar Dayalal Ghelani Shaneel Hirani Vinodlal Manilal Kanabar Charity registration number: 1104605 Principal office: 39-45 Oldfield Lane, South Greenford, Middlesex UB6 9LB

The appointment of trustees is governed by the Trust Deed of the charity. The Board of Trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee. Trustees are recruited by nominations upon which members vote at the AGM.

The trustees of the Charity are legally responsible for the overall management and control of Raghuvanshi Mahajan London ('RAMA') and meet regularly. The work of implementing most of their policies is carried out by the chairpersons.

The trustees' report was approved by the Board of Trustees.

Rajnikant Samji Davda Trustee Dated: 20 October 2022

4

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2021

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.

5

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF RAGHUVANSHI MAHAJAN LONDON ('RAMA')

Opinion

We have audited the financial statements of Raghuvanshi Mahajan London ('RAMA') (the ‘charity’) for the year ended 31 December 2021 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of 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 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.

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:

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.

6

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF RAGHUVANSHI MAHAJAN LONDON ('RAMA')

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, outlined 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.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, was as follows:

We assessed the susceptibility of the Charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

There are inherent limitations in the audit procedures described above; any instance of non-compliance with laws and regulations and fraud which is far removed from transactions reflected in the financial statements would diminish the likelihood of detection. Furthermore, the risk of not detecting a material misstatement due to fraud is greater than the risk of not detecting one resulting from error. Fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through an act of collusion that would mitigate internal controls. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

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 purpose. 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.

RMR Partnership LLP 20 October 2022 Chartered Accountants Vyman House Statutory Auditor 104 College Road Harrow, Middlesex HA1 1BQ

RMR Partnership LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Act 2006

7

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2021

Current financial year
Unrestricted
funds
general
Unrestricted
funds
designated
Restricted
funds
2021
2021
2021
Notes
£
£
£
Income from:
Donations and legacies
3
-
943,716
-
Other trading activities
4
-
27,915
-
Investments
5
-
2,177
-
Total income
-
973,808
-
Expenditure on:
Raising funds
6
-
19,903
-
Charitable activities
Advancement of Hindu Culture, Education &
Religion
7
-
290,662
-
Social Welfare Activities for the Community
7
-
418,565
-
Total charitable expenditure
-
709,227
-
Total resources expended
-
729,130
-
Net incoming resources before transfers
-
244,678
-
Gross transfers between funds
-
-
-
Net (expenditure)/income for the year/
Net movement in funds
-
244,678
-
Fund balances at 1 January 2021
-
6,505,713
-
Fund balances at 31 December 2021
-
6,750,391
-		 Total
Total
2021
2020
£
£
943,716
994,645
27,915
100,548
2,177
5,576
973,808
1,100,769
19,903
18,443
290,662
250,084
418,565
567,462
709,227
817,546
729,130
835,989
244,678
264,780
-
-
244,678
264,780
6,505,713
6,240,933
6,750,391
6,505,713

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

8

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2021

Prior financial year
Unrestricted Unrestricted Restricted Total
funds funds funds
general designated
2020 2020 2020 2020
Notes £ £ £ £
Income from:
Donations and legacies 3 - 994,645 - 994,645
Other trading activities 4 - 100,548 - 100,548
Investments 5 - 5,576 - 5,576
Total income - 1,100,769 - 1,100,769
Expenditure on:
Raising funds 6 - 18,443 - 18,443
Charitable activities
Advancement of Hindu Culture, Education & Religion 7 - 250,084 - 250,084
Social Welfare Activities for the Community 7 - 567,462 - 567,462
Total charitable expenditure - 817,546 - 817,546
Total resources expended - 835,989 - 835,989
Net incoming resources before transfers - 264,780 - 264,780
Gross transfers between funds - - - -
Net (expenditure)/income for the year/
Net movement in funds - 264,780 - 264,780
Fund balances at 1 January 2020 - 6,240,933 - 6,240,933
Fund balances at 31 December 2020 - 6,505,713 - 6,505,713

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

9

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) BALANCE SHEET

AS AT 31 DECEMBER 2021

Notes
Fixed assets
Tangible assets
12
Current assets
Stocks
13
Debtors
14
Investments
15
Cash at bank and in hand
Creditors: amounts falling due within one year
16

Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than
one year
17
Net assets
Income funds
Unrestricted funds
Designated funds:
Existing Property reserve
Sadavrat fund
General charitable fund
20
General unrestricted funds		 2021
£
6,960
40,512
496,847
635,960
1,180,279
(356,858)
6,097,358
408,355
244,678
6,750,391
-		 £
5,966,855

823,421
6,790,276
(39,885)
6,750,391

6,750,391
6,750,391		 2020
£
4,620
62,931
495,056
700,510
1,263,117
(797,624)
6,097,358
408,355
-
6,505,713
-		 £
6,090,220
465,493
6,555,713
(50,000)
6,505,713
6,505,713
6,505,713

The financial statements were approved by the Trustees on 20 October 2022.

Kishorkumar Dayalal Ghelani Trustee

10

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2021

Notes
Cash flows from operating activities
Cash generated from operations
24
Investing activities
Purchase of tangible fixed assets
Purchase of investments
Interest received
Net cash used in investing activities
Financing activities
Proceeds from borrowings
Repayments of loans

Net cash (used in)/generated from financing
activities
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2021
£
(6,633)
(1,791)
2,177
-
(453,510)		 £
395,207
(6,247)
(453,510)
(64,550)
700,510
635,960		 2020
£
-
(5,573)
5,576
50,000
(520,000)		 £
213,718
3
(470,000)
(256,279)
956,789
700,510

11

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

Charity information

Raghuvanshi Mahajan London ('RAMA') is an unincorporated charity. Its registered office is 39-41 Oldfield Lane, South Greenford, Middlesex, UB6 9LB. The charity meets the definition of a public benefit entity under FRS102.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's trust deed, 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 from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

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

The Trustees have considered the effect of the Covid-19 outbreak. The Trustees consider that the outbreak had caused some disruption to the charity's activities to the balance. However, measures had been taken to mitigate the effects of the disruption in the form of taking a Bounce Back Loan, holding online services to raise funds, and cutting costs. After the balance sheet date, as the government had relaxed the measures which were in place to combat the Covid-19, the charity’s activities have returned back to pre-Covid level. Therefore, the Trustees are confident that the organisation can continue as a going concern for a period of at least twelve months from the date of approval of these financial statements.

The Trustees have a reasonable expectation that the organisation has adequate resources to continue in operation 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 unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors 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.

1.4 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 basis. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Interest on funds held on deposit is included upon notification of the interest paid or payable by the bank.

Gifts in kind represent food donations, which are recognised upon receipt at estimated cost.

Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate. Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual installments.

12

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

1.5 Resources expended

Liabilities are recognised as expenditure once there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accrual basis. All expenses, including support costs and governance costs, are allocated to charitable activities in the statement of financial activities.

Costs not directly attributable to a particular functional category are apportioned over the relevant categories on the basis of management estimates of the amount attributable to that activity to that year.

Costs of raising funds are those costs incurred in staging the charity's fundraising events.

Grants payable are payments made to third parties in the furtherance of the charitable objects of the charity. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the one year or multi-year grant. Grant awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled conditions attaching to that grant are outside of the control of the charity.

Governance costs comprise the costs of running the charity, including all costs of complying with constitutional and statutory requirements such as preparing statutory financial statements. It is apportioned to relevant categories on the basis of staff costs.

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

1.6 Tangible fixed assets

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

Freehold mandir land is not depreciated. The construction of the new mandir has now been completed and therefore depreciation of the building has commenced in the year.

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:

Freehold land & buildings 2% straight line Fixtures, fittings & equipment 20% straight line Motor vehicles 33% straight line

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 net income/(expenditure) for the year.

13

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

1.7 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).

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in expenditure for the year, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.8 Stocks

Stocks, which comprise of food held for distribution at no or nominal consideration, are measured at the lower of cost and replacement cost.

1.9 Cash, cash equivalents and current asset investments

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

Deposits with maturities greater than 3 months are shown as current investments and are held on deposit with banks.

1.10 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.

14

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors 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.

1.11 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.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13 Leases

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight-line basis over the term of the relevant lease.

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.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

The charity receives donated food for the cooked food program which is then cooked and served at the Mandir free of charge. In order to arrive at an estimate of the value of donated food, the trustees calculate how much it would cost to provide such meals and then deduct from this the food costs which have been incurred by the charity itself, leaving a balance representing the cost value of donated food.

Other food items donated from businesses to be distributed to the homeless on the streets cannot be quantified, therefore, cannot be included in the financial statements but are included in the trustees’ report.

Stocks of food at year end are valued at estimated replacement cost.

15

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

3 Donations and legacies

Unrestricted
funds
general
2021
£
Donations and gifts
943,716
Donations and gifts
Box collection and
miscellaneous income
894,716
Gifts in kind
49,000
943,716		 Restricted
funds
2021
£
-
-
-
-		 Total
Unrestricted
funds
general
2021
2020
£
£
943,716
994,645
894,716
952,645
49,000
42,000
943,716
994,645		 Restricted
funds
2020
£
-
-
-
-		 Total
2020
£
994,645
952,645
42,000
994,645

4 Other trading activities

CJRS and Covid Grant Received
5
Investments
Interest receivable		 Total
2021
£
27,915
2021
£
2,177		 Total
2020
£
100,548
2020
£
5,576

All of the investment income arises from money held in interest bearing deposit accounts. All investment income in 2021 and 2020 was unrestricted.

16

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

6 Raising funds
Costs of generating donations and legacies
Fund raising social events
Advertising
Costs of generating donations and legacies		 2021
£
16,850
3,053
19,903		 2020
£
17,693
750
18,443

All costs of generating donations and legacies in 2021 and 2020 relate to unrestricted funds.

17

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

7 Charitable activities

Advancement Social Welfare
of Hindu
Culture,
Education &
Religion
Activities for
the
Community
2021
2021
£
£
Staff costs
33,656
151,328
Light and heat
8,431
19,671
Social events - food
-
107,427
Repairs and maintenance
11,486
11,489
Printing, postage and stationery
1,271
-
Telephone and fax
2,948
-
Insurance
5,224
-
Sundry
25,389
-
Bank charges
5,188
-
Parking
1,838
-
Rent
110
258
Staff training
-
-
Opening ceremony related
costs
-
-
95,541
290,173
Grant funding of activities (see
note 8)
125,771
-
Share of support costs (see
note 9)
66,801
121,137
Share of governance costs (see
note 9)
2,549
7,255
290,662
418,565
Analysis by fund
Unrestricted funds - general
290,662
418,565
Unrestricted funds - designated
-
-
290,662
418,565		 TotalAdvancement Social Welfare
2021
of Hindu
Culture,
Education &
Religion
Activities for
the
Community
2020
2020
£
£
£
184,984
48,632
218,667
28,102
9,820
22,913
107,427
-
165,042
22,975
11,682
11,685
1,271
1,227
-
2,948
6,283
-
5,224
17,988
-
25,389
25,812
-
5,188
4,567
-
1,838
2,126
-
368
840
1,960
-
-
-
-
-
-
385,714
128,977
420,267
125,771
42,129
-
187,938
75,129
136,240
9,804
3,849
10,955
709,227
250,084
567,462
709,227
250,084
567,462
-
-
-
709,227
250,084
567,462		 Total
2020
£
267,299
32,733
165,042
23,367
1,227
6,283
17,988
25,812
4,567
2,126
2,800
-
-
549,244
42,129
211,369
14,804
817,546
817,546
-
817,546

18

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

8 Grants payable

Advancement Advancement
of Hindu of Hindu
Culture, Culture,
Education & Education &
Religion Religion
2021 2020
£ £
Grants to institutions:
Institutions 124,271 41,869
Individuals 1,500 260
125,771 42,129

A total of 21 (2020: 14) grants were given to institutions during the year. £1,500 was paid to one individual in the year (2021: £260).

9 Support costs

Support costs
Governance
costs
£
£
Depreciation
129,998
-
Cleaning and waste
collection
13,953
-
Security, health and safety
43,987
-
Audit fees
-
6,000
Legal and professional
-
3,804
187,938
9,804
Analysed between
Charitable activities
187,938
9,804		 2021
Support costs
Governance
costs
£
£
£
129,998
129,942
-
13,953
12,105
-
43,987
69,322
-
6,000
-
6,000
3,804
-
8,804
197,742
211,369
14,804
197,742
211,369
14,804		 2020
£
129,942
12,105
69,322
6,000
8,804
226,173
226,173

Governance costs includes payments to the auditors of £6,000 (2020: £6,000) for audit fees.

10 Trustees

The trustees represent the key management personnel for the charity.

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

19

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

11 Employees

Number of employees

The average monthly number of employees during the year was:

Number of employees
The average monthly number of employees during the year was:
Operational
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2021
Number
13
2021
£
171,700
9,737
3,546
184,983		 2020
Number
16
2020
£
246,356
13,964
6,979
267,299

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

20

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

12
Tangible fixed assets
Freehold land &
buildings
Fixtures, fittings
& equipment
Motor vehicles
£
£
£
Cost
At 1 January 2021
6,150,163
162,588
8,070
Additions
-
6,633
-
At 31 December 2021
6,150,163
169,221
8,070
Depreciation and impairment
At 1 January 2021
158,415
66,010
6,176
Depreciation charged in the year
105,610
22,494
1,894
At 31 December 2021
264,025
88,504
8,070
Carrying amount
At 31 December 2021
5,886,138
80,717
-
At 31 December 2020
5,991,748
96,578
1,894		 Total
£
6,320,821
6,633
6,327,454
230,601
129,998
360,599
5,966,855
6,090,220

Included in land and buildings are two flats which are used in the undertaking of the charity's objectives in providing religious services.

13
14
15
Stocks
Food stocks
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
Current asset investments
Deposit with maturities of greater than 3 months		 2021
£
6,960
2021
£
21,000
19,512
40,512
2021
£
496,847		 2020
£
4,620
2020
£
21,000
41,931
62,931
2020
£
495,056

21

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

16 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Bank loans
Other loans
Other taxation and social security
Other creditors
Accruals and deferred income		 2021
£
10,115
221,990
8,808
24,807
91,138
356,858		 2020
£
-
675,500
269
19,048
102,807
797,624

17 Creditors: amounts falling due after more than one year

2021 2020
£ £
Bank loans 39,885 50,000
_ __
39,885 50,000

18 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £3,546 (2020: £6,979).

22

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

19 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Transfers Balance at Incoming Transfers Balance at
1 January 2020 resources 1 January 2021 resources 31 December
2021
£ £ £ £ £ £ £
Mandir and community hall development fund - - - - - - -

The 'mandir and community hall development fund' is to redevelop and build a new mandir and community center.

23

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

20 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Balance at
1 January 2020
£
Existing property reserve
6,097,358
Sadavrat fund
143,575
General charitable fund
-
6,240,933		 Incoming
resources
£
-
264,780
-
264,780		 Resources
expended
£
Balance at
1 January 2021
£
-
6,097,358
-
408,355
-
-
-
6,505,713		 Incoming
resources
£

-
-
244,678
244,678		 Resources
expended
£
Balance at
31 December
2021
£
-
6,097,358
-
408,355
-
244,678
-
6,750,391		 Resources
expended
£
Balance at
31 December
2021
£
-
6,097,358
-
408,355
-
244,678
-
6,750,391
6,750,391

The property reserve fund represents the original cost of land and buildings previously bought by the charity plus the cost of re-construction.

The Sadavrat fund is open to all, without reference to caste, creed or colour, to provide hot kitchen facilities. During the year £124,271 (2020: £165,042) was spent providing food for the devotees and homeless and at the year end the funds from unrestricted funds replenished the fund to £400,000 (2020: £400,000) for next year. This equates to approximately one year's worth of expenditure.

The general charitable fund represents the reserves to meet the charity’s objects and aims for the public benefit.

24

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

21
Analysis of net assets between funds
Unrestricted
funds
Designated
funds
2021
2021
£
£
Fund balances at 31 December 2021 are represented by:
Tangible assets
-
5,966,855
Current assets/(liabilities)
-
833,536
Long term liabilities
-
(50,000)
-
6,750,391		 Restricted
funds
Total
Unrestricted
funds
Designated
funds
2021
2021
2020
2020
£
£
£
£
-
5,966,855
-
6,090,604
-
833,536
-
465,109
-
(50,000)
-
(50,000)
-
6,750,391
-
6,505,713		 Restricted
funds
Total
2020
2020
£
£
-
6,090,604
-
465,109
-
(50,000)
-
6,505,713

25

RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

22 Events after the reporting date

The charity has repaid significant amount of other loans and the trustees are thankful for the generous support from the members of the community who provided these loans during the construction of the temple.

23 Related party transactions

During the year various trustees made donations to the charity totaling £38,072 (2020: £32,965). Trustees made loans to the charity interest free totaling £50,000 (2020: £50,000).

24
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Cash generated from operations		 2021
£
244,678
(2,177)
129,998
(2,340)
22,419
2,629
395,207		 2020
£
264,780
(5,575)
129,942
2,990
(27,971)
(150,448)
213,718

26