Charity Registration No. 1104605
RAGHUVANSHI MAHAJAN LONDON ('RAMA')
(SHREE JALARAM MANDIR - GREENFORD) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Rashmi Jamnadas Chatwani Mansukh Morjaria Prakash Gandecha (Resigned on 28 April 2024) Praful Radia Laxmidas Tulsidas Popat (Resigned on 28 April 2024) Cllr Rajnikant Chhotalal Khiroya Rajnikant Samji Davda Asmita Masrani Jayendrakumar Hansraj Morjaria (Resigned on 28 April 2024) Kishorkumar Dayalal Ghelani Shaneel Hirani Vinodlal Manilal Kanabar (Resigned on 28 April 2024) Sailesh Chotai (Appointed on 28 April 2024) Jayesh Chotai (Appointed on 18 July 2024) 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 1 Churchill Place London E14 5HP Lloyds Bank 25 Gresham Street London EC2V 7HN
RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) LEGAL AND ADMINISTRATIVE INFORMATION
NatWest Bank 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 2023
The trustees present their report and accounts for the year ended 31 December 2023.
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 and 24 April 2022), 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).
Objectives and activities
The objects as set out in its Trust Deed are:
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The advancement of the Hindu culture and religion in the London Boroughs of Ealing, Harrow, Hillingdon, Hounslow, Barnet, Brent, Hammersmith and Richmond-Upon-Thames and environs.
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The advancement of education and the relief of poverty and sickness among the Community generally and the promotion of public education in Hindu culture and religion.
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The provision of, or assisting the provision of, facilities for leisure time occupation for members of the community resident in the said London Boroughs and surrounding areas in the interests of social welfare with the object of improving their conditions of life.
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 on 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.
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. 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 several Hindu religious events, ceremonies, and activities. There are weekly Ladies and Gents activities held in the Community Center.
Shree Jalaram Mandir & Community Centre is proud to be the Winner of Ealing Voluntary Sector Awards 2023 Corporate and Charity Partnership by Ealing Community Network.
Activities
The Charity during the year provided the following:
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Provided approximately two thousand hot meals a week at the Temple community center.
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Provided on average 260 meals a week to the homeless in Central London.
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Provided on average 125 needy people with groceries through Food Bank service every Tuesday afternoon.
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RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
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Carried out several eye camps resulting in giving gift of sight. Many were given primary treatment and eye drops.
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Various dental camps arranged, and numerous patients provided with free dentures, bottles of tooth powder, antibiotics, and where applicable teeth extraction.
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Medical expenses for cancer and kidney patients with meals for both patients and their families at hospital were provided.
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All children in one school in India were provided with free lunch for the whole year.
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Approx. 500 children are served food every week at Charakhdhi & Rajkot in India.
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Between 80 to 100 volunteers give their time every week.
All the above services were provided free through donations received, and no fees or costs were charged to anyone.
During the year, the Charity continued to work with The Felix Project, Tesco Fair Share and Harrow Food Bank to distribute free food in Central London. With their support, about 10 tons of free food were distributed, equating to about 24,000 meals. This is over and above what is done through the community center.
Financial review
The charity made a surplus of £125,156 (2022: £226,445) and accumulated reserves i n surplus of £7,101,992 (2022: £6,976,836) 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 twelvemonth 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 the 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. 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:
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1) comprehensive budgeting and management accounting.
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2) comprehensive internal checks of the cash allocated.
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3) adequate authorisation and approval of the transactions undertaken.
The charity has a focus on non-financial risks arising from fire, health and safety and food hygiene. To manage these risks RAMA employs outside professionals to come in and perform checks.
In addition, courses are run for volunteers, staff, and Trustees to ensure hygiene and health and safety regulations are adhered to.
In 2015, the Charity was awarded "The Innovation Award", by the British Heart Foundation for promoting healthy food.
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RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees who served during the year were:
Rashmi Jamnadas Chatwani Mansukh Morjaria Prakash Gandecha (Resigned on 28 April 2024) Praful Radia Laxmidas Tulsidas Popat (Resigned on 28 April 2024) Cllr Rajnikant Chhotalal Khiroya Rajnikant Samji Davda Asmita Masrani Jayendrakumar Hansraj Morjaria (Resigned on 28 April 2024) Kishorkumar Dayalal Ghelani Shaneel Hirani Vinodlal Manilal Kanabar (Resigned on 28 April 2024) 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: 15 August 2024
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RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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.
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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 2023 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:
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give a true and fair view of the state of the charity’s affairs as at 31 December 2023 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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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, except to the extent otherwise explicitly stated in our report, 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 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:
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the information given in the financial statements is inconsistent in any material respect with the trustees' report; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records; or
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we have not received all the information and explanations we require for our audit.
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.
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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 auditors 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:
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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;
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we identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from our commercial knowledge and experience of the sector; and
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we focused on specific laws and regulations which we considered may have a direct material effect on the operations of the charity financial statements or the operations of the charity, including the Charities Act 2011, data protection, antibribery, employment laws, environmental, health and safety legislation and food hygiene compliance.
We assessed the susceptibility of the Charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
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 for 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 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 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 15 August 2024 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
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RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
| Current financial year Unrestricted funds general 2023 Notes £ Income from: Donations and legacies 3 - Other trading activities 4 - Investments 5 - Total income - Expenditure on: Raising funds 6 - Charitable activities Advancement of Hindu Culture, Education & Religion 7 - Social Welfare Activities for the Community 7 - Total charitable expenditure - Total resources expended - Net incoming resources before transfers - Gross transfers between funds - Net (expenditure)/income for the year/ Net movement in funds - Fund balances at 1 January 2023 - Fund balances at 31 December 2023 - |
Unrestricted funds designated Restricted funds 2023 2023 £ £ 1,378,230 - 21,065 - 3,161 - 1,402,456 - 51,126 - 407,652 - 818,522 - 1,226,174 - 1,277,300 - 125,156 - - - 125,156 - 6,976,836 - 7,101,992 - |
Total Total 2023 2022 £ £ 1,378,230 1,121,065 21,065 - 3,161 3,482 1,402,456 1,124,547 51,126 31,057 407,652 270,956 818,522 596,089 1,226,174 867,045 1,277,300 898,102 125,156 226,445 - - 125,156 226,445 6,976,836 6,750,391 7,101,992 6,976,836 |
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The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD)
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
| Prior financial year Unrestricted Unrestricted funds general 2022 funds designated 2022 Notes Income from: Donations and legacies 3 £ - £ 1,121,065 Other trading activities 4 - - Investments 5 - 3,482 Total income - 1,124,547 Expenditure on: Raising funds 6 - 31,057 Charitable activities Advancement of Hindu Culture, Education & Religion 7 - 270,956 Social Welfare Activities for the Community 7 - 596,089 Total charitable expenditure - 867,045 Total resources expended - 898,102 Net incoming resources before transfers - 226,445 Gross transfers between funds - - Net (expenditure)/income for the year/ Net movement in funds - 226,445 Fund balances at 1 January 2022 - 6,750,391 Fund balances at 31 December 2022 - 6,976,836 |
Restricted Total funds 2022 2022 £ - £ 1,121,065 - - - 3,482 - 1,124,547 - 31,057 - 270,956 - 596,089 - 867,045 - 898,102 - 226,445 - - - 226,445 - 6,750,391 - 6,976,836 |
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The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) BALANCE SHEET
AS AT 31 DECEMBER 2023
| Notes Fixed assets Tangible assets 12 Investments 13 Current assets Stocks 14 Debtors 15 Investments 16 Cash at bank and in hand Creditors: amounts falling due within one year 17 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 18 Net assets Income funds Unrestricted funds Designated funds: 21 Existing Property reserve Sadavrat fund General charitable fund |
2023 £ 8,120 45,888 560,775 251,907 866,690 (179,027) 6,097,358 408,355 596,279 |
£ 5,875,696 557,498 6,433,194 687,663 7,120,857 (18,865) 7,101,992 7,101,992 7,101,992 |
2022 £ £ 5,847,299 - 5,847,299 5,945 582,534 325,768 391,646 1,305,893 (146,355) 1,159,538 7,006,837 (30,001) 6,976,836 6,097,358 408,355 471,123 6,976,836 6,976,836 |
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The financial statements were approved by the Trustees on 15 August 2024.
Kishorkumar Dayalal Ghelani Trustee
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RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023
| Notes Cash flows from operating activities Cash generated from operations 23 Investing activities Purchase of tangible fixed assets Purchase of investment property Movement in fixed deposits at the bank Interest and rents received Net cash used in investing activities Financing activities 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 |
2023 £ (172,701) (557,498) (235,007) 24,226 (11,635) |
£ 812,876 (940,980) (11,635) (139,739) 391,646 251,907 |
2022 £ (8,548) - 171,077 3,482 |
£ (178,835) 166,011 (231,490) (244,314) 635,960 391,646 |
|---|---|---|---|---|
| (231,490) |
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RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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
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 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 a 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 instalments.
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RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
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.
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RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
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.
13
RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
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 terminating 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.
14
RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
3 Donations and legacies
| Unrestricted funds general 2023 £ Donations and gifts 1,378,230 Donations and gifts Box collection and donation income 1,325,115 Gifts in kind 53,115 1,378,230 |
Restricted funds 2023 £ - - - - |
Total Unrestricted funds general 2023 2022 £ £ 1,378,230 1,121,065 1,325,115 1,074,565 53,115 46,500 1,378,230 1,121,065 |
Restricted funds Total 2022 2022 £ £ - 1,121,065 - 1,074,565 - 46,500 - 1,121,065 |
|---|---|---|---|
4 Other trading activities
| Rental income receivable 5 Investments Interest receivable |
2023 £ 21,065 21,065 2023 £ 3,161 |
2022 £ - |
|---|---|---|
| - | ||
| 2022 £ 3,482 |
All the investment income arises from money held in interest bearing deposit accounts. All investment income in 2023 and 2022 was unrestricted.
15
RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
6 Raising funds
| Costs of generating donations and legacies Fund raising social events Advertising Costs of generating donations and legacies |
2023 £ 47,901 3,225 51,126 |
2022 £ 27,743 3,314 |
|---|---|---|
| 31,057 |
All costs of generating donations and legacies in 2023 and 2022 relate to unrestricted funds.
16
RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
7 Charitable activities
| Advancement Social Welfare of Hindu Culture, Education & Religion Activities for the Community 2023 2023 £ £ Staff costs 55,925 223,701 Light and heat 49,291 115,005 Social events - food - 171,152 Repairs and maintenance 26,337 26,337 Printing, postage and stationery 3,400 - Telephone and fax 3,350 - Insurance 10,613 - Sundry 3,481 - Bank charges 3,959 - Parking 22,858 - Rent & rates 10,214 - Computer running costs 1,113 2,597 Overseas Covid relief costs - 54,663 190,541 593,455 Grant funding of activities (see note 8) 97,463 - Share of support costs (see note 9) 111,808 202,753 Share of governance costs (see note 9) 7,840 22,314 407,652 818,522 Analysis by fund Unrestricted funds - general 407,652 818,522 Unrestricted funds - designated - - 407,652 818,522 |
Total Advancement Social Welfare Total 2023 of Hindu Culture, Education & Religion Activities for the Community 2022 2022 2022 £ £ £ £ 279,626 47,761 191,044 238,805 164,296 15,387 35,900 51,287 171,152 - 106,185 106,185 52,674 19,280 19,280 38,560 3,400 1,403 - 1,403 3,350 3,761 - 3,761 10,613 11,610 - 11,610 3,481 2,840 - 2,840 3,959 4,312 - 4,312 22,858 12,784 - 12,784 10,214 - - - 3,710 968 2,259 3,227 54,663 - 67,414 67,414 783,996 120,105 422,082 542,187 97,463 56,763 - 56,763 314,561 90,808 164,671 255,479 30,154 3,280 9,336 12,616 1,226,174 270,956 596,089 867,045 1,226,174 270,956 596,089 867,045 - - - - 1,226,174 270,956 596,089 867,045 |
|---|---|
17
RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
8 Grants payable
| Advan cement |
Advancement | |
|---|---|---|
| of Hindu | of Hindu | |
| Culture, | Culture, | |
| Edu cation & |
Education & | |
| Religion | Religion | |
| 2023 | 2022 | |
| £ | £ | |
| Grants to institutions: | ||
| Institutions | 96,303 | 56,763 |
| Individuals | 1,160 | - |
| 97,463 | 56,763 |
A total of 11 (2022: 9) grants were given to institutions during the year. £1,160 was paid to one individual in the year (2022: £Nil).
9 Support costs
| Supp ort costs Governance costs £ £ Depreciation 144,304 - Cleaning and waste collection 32,879 - Security, health and safety 137,378 - Audit fees - 6,000 Legal and professional - 24,154 314,561 30,154 Analysed between Charitable activities 314,561 30,154 |
2023 Support costs Governance 2022 costs £ £ £ £ 144,304 128,104 - 128,104 32,879 25,578 - 25,578 137,378 101,797 - 101,797 6,000 - 6,000 6,000 24,154 - 6,616 6,616 344,715 255,479 12,616 268,095 344,715 255,479 12,616 268,095 |
|---|---|
Governance costs include payments to the auditors of £6,000 (2022: £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.
18
RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
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 |
2023 Number 16 2023 £ 262,643 14,187 2,796 279,626 |
2022 Number 15 |
| 2022 £ 222,197 13,039 3,569 |
||
| 238,805 |
There were no employees whose annual remuneration was £60,000 or more.
19
RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
| 12 | Tangible fixed assets | ||||
|---|---|---|---|---|---|
| Free hold land & | Fixtures, fittings | Motor vehicles | Total | ||
| buildings | & equipment | ||||
| £ | £ | £ | £ | ||
| Cost | |||||
| At 1 January 2023 | 6,150,163 | 177,769 | 8,070 | 6,336,002 | |
| Additions | 128,261 | 9,172 | 35,268 | 172,701 | |
| At 31 December 2023 | 6,278,424 | 186,941 | 43,338 | 6,508,703 | |
| Depreciation and impairment | |||||
| At 1 January 2023 | 369,635 | 110,998 | 8,070 | 488,703 | |
| Depreciation charged in the year | 108,338 | 24,328 | 11,638 | 144,304 | |
| At 31 December 2023 | 477,973 | 135,326 | 19,708 | 633,007 | |
| Carrying amount | |||||
| At 31 December 2023 | 5,800,451 | 51,615 | 23,630 | 5,875,696 | |
| At 31 December 2022 | 5,780,528 | 66,771 | - | 5,847,299 |
Included in land and buildings are two flats which are used in the undertaking of the charity's objectives in providing religious services.
13 Investment
| Cost or revaluation Additions At 31 December 2023 Net book Values At 31 December 2023 14 Stocks Food stocks 15 Debtors Amounts falling due within one year: Other debtors Prepayments and accrued income |
Freehold Investment Property £ 557,498 557,498 557,498 2023 £ 8,120 2023 £ 38,494 7,394 45,888 |
Total £ 557,498 557,498 557,498 2022 £ 5,945 2022 £ 577,287 5,247 582,534 |
|---|---|---|
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RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
| 16 Current asset investments Deposit with maturities of greater than 3 months 17 Creditors: amounts falling due within one year Bank loans Trade creditors Other loans Other taxation and social security Other creditors Accruals and deferred income 18 Creditors: amounts falling due after more than one year Bank loans |
2023 £ 560,775 2023 £ 10,000 30,380 - 13,950 38,532 86,165 179,027 2023 £ 18,865 18,865 |
2022 £ 325,768 2022 £ 9,998 - 500 10,379 27,326 98,152 |
||
|---|---|---|---|---|
| 146,355 | ||||
| 2022 £ 30,001 30,001 |
19 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 £2,796 (2022: £3,569).
21
RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
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 | Incoming | Resources | Balance at | Incoming | Resources | Balance at | |
|---|---|---|---|---|---|---|---|
| 1 Ja nuary 2022 |
resources | expended | 1 January 2023 | resources | expended | 31 December | |
| 2023 | |||||||
| £ | £ | £ | £ | £ | £ | £ | |
| Existing property reserve | 6,097,358 | - | - | 6,097,358 | - | - | 6,097,358 |
| Sadavrat fund | 408,355 | - | - | 408,355 | - | - | 408,355 |
| General charitable fund | 244,678 | 226,445 | - | 471,123 | 125,156 | - | 596,279 |
| 6,750,391 | 226,445 | - | 6,976,836 | 125,156 | - | 7,101,992 |
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 £171,152 (2022: £106,185) 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 (2022: £400,000) for the 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 public benefit.
22
RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
| 21 Analysis of net assets between funds Unrestricted funds Designated funds 2023 2023 £ £ Fund balances at 31 December 2023 are represented by: Tangible assets - 6,433,194 Current assets/(liabilities) - 687,663 Long term liabilities - (18,865) - 7,101,992 |
Restricted funds 2023 £ - - - - |
Total Unrestricted funds Designated funds 2023 2022 2022 £ £ £ 6,433,194 - 5,847,299 687,663 - 1,159,538 (18,865) - (30,001) 7,101,992 - 6,976,836 |
Restricted funds 2022 £ - - - - |
Total 2022 £ 5,847,299 1,159,538 (30,001) |
|---|---|---|---|---|
| 6,976,836 |
23
RAGHUVANSHI MAHAJAN LONDON ('RAMA') (SHREE JALARAM MANDIR - GREENFORD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
22 Related party transactions
During the year, various trustees made donations to the charity totaling £23,809 (2022: £22,406).
During the year, the charity paid £52,378 (2022: £11,015) for security services to a company VS Security Services Ltd, a company registered in England and Wales. One of the company’s directors, Mr A Davda, is related to Mr R Davda who is trustee of the charity.
| 23 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 |
2023 £ 125,156 (24,226) 144,304 (2,175) 536,646 33,171 812,876 |
2022 £ 226,445 (3,482) 128,104 1,015 (542,022) 11,105 (178,835) |
|---|---|---|
24