Swaminarayan World Organisation (UK)
Charity No. 1106277
Trustees' Report and Unaudited Accounts
31 July 2021
Swaminarayan World Organisation (UK) Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Statement of Cash flows | 15 |
| Notes to the Accounts | 9 to 14 |
| Detailed Statement of Financial Activities | 16 |
Page 1
Swaminarayan World Organisation (UK) Trustees Annual Report
SWO (UK)
The trustees present their report with the unaudited financial statements of the charity for the year ended 31 July 2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1106277
Principal Office
6 Bowman Trading Estate Westmoreland Road London NW9 9RL
Trustees
The following trustees served during the year:
Devshi Bhojani Jignesh Patel Kamlesh Ramani Sadhu Divyaswarupdasji Swami Sadhu Satyasankalpdasji Swami Suresh Bhailal Patel Valji Mavji Ramji
Accountants
RMR Partnership LLP Chartered Accountants and Statutory Auditors Vyman House 104 College Road Harrow, Middlesex HA1 1BQ
Bankers
HSBC Bank Plc 2 Station Road Hayes Middlesex UB3 4BY Address Line 5
Page 2
Swaminarayan World Organisation (UK) Trustees Annual Report
OBJECTIVES AND ACTIVITIES
The objects of the charity set out in its governing document are as follows: To advance the Swaminarayan Religion (as explained by Shri Abjibapashri) in Particular but not exclusively by establishment of a Centre, the provision of conferences, debates, lectures, classes, parayans, reading rooms, libraries, periodicals, pamphlets, booklets, books, videos, audios, DVD’s or other electronic device. To advance education in the Swaminarayan Religion and Culture in particular but not exclusively by the provision of youth programmes, related activities, books and scholarships. To relieve sickness, preserve and protect health and relieve poverty by distribution of financial aid and medical necessities. To work collaboratively with other charitable trusts, institutions or societies in order to achieve the objects of this trust.
The main activities undertaken in relation to those purposes are religious activities, education training & youth awareness, arts and culture, sport and recreation activities, advice and information, climate change & sustainability, community cohesion.
In setting our objectives and planning future activities the Trustees have given careful consideration to the Charity Commission's general guidelines on public benefit. The Charity look to promote for the benefit of the communities in the area surrounding Swaminarayan World Organisation (UK), the provision of facilities with the object of improving the condition of life in the community.
ACHIEVEMENTS AND PERFORMANCE
A summary of the main achievements of the charity, identifying the difference the charity's work has made to its beneficiaries and society as a whole are: Our youth take part in and help organise street walks and street briefing every few months with our police community support officers in Queensbury. The aim is crime prevention and knowing our local community in Queensbury.
Religious Activities: The aim of the charity is to provide service of worship and meditation and also allow believers to practice their faith, to foster harmony, non-violence, tolerance and good citizenship of the people. The charity also provides resources (sacred printed material, CD-ROMS, Videos, and audio Cassettes etc.). The charity actively encourages individuals of all backgrounds, regardless of their level of literacy to participate in the activities.
Education Training and Youth Awareness: Classes are carried in our center, including; devotional singing, yoga classes, flower arranging, making Indian sweets and savories, organising trips to national heritage sites, parks, beaches and other places of interest. Youth awareness discussions relating to dangers of drug & solvent misuse, bullying, Alcohol, drugs & car crime, bullying, vandalism, anti-social behaviour, smoking.
Sports, Arts and Culture: The Charity is now providing funding for indoors and outdoors sports equipment and facilities for our members. This has played a major part in promoting healthy living, enhancing the team spirit and keeping fit. The charity is actively encouraging the Youth to learn about Arts and Culture. Musical instruments are provided; training classes on learning to play on the keyboard, tabla, brass musical instruments etc. are carried out. Folk music, dance classes, dramas and plays are organised on a regular basis.
Page 3
Swaminarayan World Organisation (UK) Trustees Annual Report
Advice and Information: We are on the local Queensbury ward panel members committee who help and work with the local Community Police support officers who police and patrol the local area. Our Youth members regularly meet with Our Community Police Support officers at the Local Police station to discuss local issues. We also help to organise Street Briefings with our local police. We print and distribute leaflets, provide gazebos, table and light refreshments. The street briefing has played an important part in helping to reduce crime in our area and brought the community together. We work collaboratively with the Local Councilors in the Area Consultative Forums working in partnership as an umbrella group including the police, Primary Care trust, business community, voluntary and community sectors. We are actively involved in community hygiene and safety, such as enforcement of fly tipping clearance and alerting the relevant authorities on the issues. In the bigger picture these may be small improvements but collectively they lead to a much-improved local landscape and safer and cleaner environment for our local community.
Sustainability and Community Cohesion: We are members of Brent Sustainability Forum. We have being contributing our efforts to reduce air pollution and prevent global warming by becoming more sustainable by saving energy, using it more efficiently, consuming less and making less waste. Once again our Youth members took part in tree planning and litter cleaning events in Brent River Park and open ground where local residents and school children’s took park. In the Brent Fryent Country Park nature conversation and Walk day, our youth members volunteered at check points, providing directions and water to walkers. We also provided a local community group our charities marquees, tables and other equipment for their Charity walk. The organisation prides itself of being resourceful and active in recycling and being creative in their use of materials and resource wherever possible. We encourage our members to walk or cycle whenever they can thus creating less pollution, keeps us fit and healthy. This results in a relatively low cost base. Community cohesion has enabled our members and other community groups of people to bond and has enhanced Awareness and respect for one another. Our members strive to fulfil their potential and feel a strong sense of duty and belonging towards the community, which encourages them that Contribute to their localities at all possible. We feel that our involvement in these initiatives has been fruitful in raising awareness of our organisation amongst the community, thereby facilitating positive PR for the Organisation. Diwali and Annakut Celebration: Diwali welcomes in the New Year for Hindus and celebrates the triumph of good over evil in scriptural events. For many visitors, themost popularattraction of the festivities was the Annakut festival, wherehundreds of different traditional Indian foods were prepared by devoteesand offered to the Mandir’s sacred images. In the evening, the offered disheswere providedto devotees and visitors as prasad. Yoga Day: A yoga session involving 50 participants was held on International Yoga Day, This was a very popular event for the wider local community.
FINANCIAL REVIEW
The Trustees were pleased with the level of incoming resources during the year. The Statement of Financial Activities on page 7 shows net incoming for the year of £183,038. At 31 July 2021, the Charity had net assets of £25,073.
The Trustees consider the key measure of sustainability for the Charity to be current and future liquidity cover, rather than the surplus or deficit accounting position. As a consequence, the Trustees have set appropriate reserves policies relating to liquidity based on the relationship between readily realisable assets, on-going level of donations received and the cash requirements associated with sustaining the Charity's operations for a period.
Page 4
Swaminarayan World Organisation (UK) Trustees Annual Report
In establishing this policy, the Trustees conducts an annual review of the level of unrestricted reserves in the general fund by considering risks associated with the various income streams, expenditure plans and balance sheet items. This enables an estimate to be made of the level of reserves that are sufficient to allow time for re-organisation in the event of a downturn in income or asset values; to protect ongoing work programme; and to allow the Charity to meet its objectives.
The Trustees review the Charity's reserves policy annually and are satisfied with the level of cash reserves at the year end and are confident that the cash reserves will increase in subsequent years.
PLANS FOR FUTURE PERIODS
As part of a restructuring of Swaminarayan World Organisation (UK), on 1st August 2018, the Charity has transferred its assets and liabilities to Swaminarayan Mandir Vasna Sanstha, a UK registered Charity (Charity registration number 1166090).
The Trustees wish to aim to maintain the continued success achieved by the Charity in delivering its aims and objectives.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Swaminarayan World Organisation, Registered Charity No. 1106277 was founded in 2004. The charity is an unincorporated charity which is governed and operated within the requirement set out in its trust deed.
The body responsible for the management of the Charity is the Board of Trustees, The Trustees meets monthly and additionally as required. Trustees are appointed or removed by the Board of Trustees. Potential new trustees are periodically identified by the Board of Trustees. These individuals work alongside existing trustees for a period of three years before considering their appointment. No new trustees were appointed during the year.
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
Kamlesh Ramani Trustee 07 July 2022
Page 5
Swaminarayan World Organisation (UK) Independent Examiners Report
Independent Examiner's Report to the trustees of Swaminarayan World Organisation (UK)
I report to the trustees on my examination of the financial statements of Swaminarayan World Organisation (UK) for the year ended 31 July 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
RMR Partnership LLP Chartered Accountants and Statutory Auditors
Vyman House Harrow, Middlesex HA1 1BQ
07 July 2022
Page 6
Swaminarayan World Organisation (UK) Statement of Financial Activities
for the year ended 31 July 2021
| Notes Income and endowments from: Donations and legacies 3 Total Expenditure on: Charitable activities 4 Other 5 Total Net gains on investments Net income Transfers between funds Net (expenditure)/income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2021 £ 197,988 |
Total funds 2021 £ 197,988 |
Total funds 2020 £ 148,249 148,249 7,815 14,590 22,405 - 125,844 (431,842) (305,998) (305,998) 343,033 37,035 |
|---|---|---|---|
| 197,988 9,348 5,602 |
197,988 9,348 5,602 |
||
| 14,950 - |
14,950 - |
||
| 183,038 (195,000) |
183,038 (195,000) |
||
| (11,962) | (11,962) | ||
| (11,962) 37,035 |
(11,962) 37,035 |
||
| 25,073 | 25,073 |
Page 7
Swaminarayan World Organisation (UK) Balance Sheet
at 31 July 2021
| Charity No. 1106277 Fixed assets Tangible assets Current assets Debtors 7 Cash at bank and in hand Creditors:Amount falling due within one year 8 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds Unrestricted funds General funds 9 Reserves Total funds Approved by the trustees on 07 July 2022 And signed on their behalf by: |
2021 £ - 10,334 17,273 27,607 (2,534) 25,073 25,073 25,073 25,073 25,073 25,073 25,073 |
2020 £ - 10,334 149,011 |
|---|---|---|
| 159,345 (122,310) |
||
| 37,035 37,035 |
||
| 37,035 | ||
| 37,035 | ||
| 37,035 | ||
| 37,035 | ||
| 37,035 | ||
Kamlesh Ramani Trustee 07 July 2022
Page 8
Swaminarayan World Organisation (UK) Notes to the Accounts
for the year ended 31 July 2021
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 9
Swaminarayan World Organisation (UK) Notes to the Accounts
Expenditure
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Freehold property 2% on cost Furniture & fixtures 25% on cost
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Page 10
Swaminarayan World Organisation (UK)
Notes to the Accounts
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 11
Swaminarayan World Organisation (UK) Notes to the Accounts
- 2 Statement of Financial Activities - prior year
| 2 Statement of Financial Activities - prior year |
|||
|---|---|---|---|
| Income and endowments from: Donations and legacies Total Expenditure on: Charitable activities Other Total Net income Transfers between funds Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies General donations Gift-aid receivable 4 Expenditure on charitable activities Expenditure on charitable activities Governance costs |
Unrestricted £ 179,854 18,134 197,988 Unrestricted £ 9,348 9,348 |
Unrestricted funds 2020 £ 148,249 148,249 7,815 14,590 22,405 125,844 (431,842) (305,998) (305,998) 343,033 37,035 Total 2021 £ 179,854 18,134 197,988 Total 2021 £ 9,348 9,348 |
Total funds 2020 £ 148,249 |
| 148,249 7,815 14,590 |
|||
| 22,405 | |||
| 125,844 (431,842) |
|||
| (305,998) | |||
| (305,998) 343,033 |
|||
| 37,035 | |||
| Total 2020 £ 57,671 90,578 |
|||
| 148,249 | |||
| Total 2020 £ 7,815 |
|||
| 7,815 |
Page 12
Swaminarayan World Organisation (UK) Notes to the Accounts
5 Other expenditure
| Other expenditure | |||
|---|---|---|---|
| Premises costs General administrative costs |
Unrestricted £ 5,602 - 5,602 |
Total 2021 £ 5,602 - 5,602 |
Total 2020 £ 14,047 543 |
| 14,590 |
6 Staff costs
None of the Trustees received any remuneration or any benefits for their services and no employee received emoluments in excess of £60,000.
7 Debtors
| Other debtors 8 Creditors: amounts falling due within one year Other creditors 9 Movement in funds At 1 August 2020 Restricted funds: Unrestricted funds: General funds 37,035 Total funds 37,035 10 Analysis of net assets between funds Net current assets |
Incoming resources (including other gains/losses) £ 197,988 197,988 |
2021 £ 10,334 10,334 2021 £ 2,534 2,534 Resources expended £ (14,950) (14,950) |
Gross transfers £ (195,000) (195,000) Unrestricted funds £ 25,074 25,074 |
2020 £ 10,334 |
|---|---|---|---|---|
| 10,334 | ||||
| 2020 £ 122,310 |
||||
| 122,310 | ||||
| At 31 July 2021 £ 25,073 |
||||
| 25,073 | ||||
| Total £ 25,074 |
||||
| 25,074 |
Page 13
Swaminarayan World Organisation (UK) Notes to the Accounts
12 Reconciliation of net debt
| Cash and cash equivalents Net debt |
At 1 August 2020 £ 149,011 149,011 149,011 |
Cash flows £ (131,738) (131,738) (131,738) |
At 31 July 2021 £ 17,273 |
|---|---|---|---|
| 17,273 | |||
| 17,273 |
Page 14
Swaminarayan World Organisation (UK) Statement of Cash flows
for the year ended 31 July 2021
| Cash flows from operating activities Net expenditure per Statement of Financial Activities Adjustments for: Decrease in trade and other receivables Decrease in trade and other payables Net cash used in operating activities Net cash from investing activities Net cash from financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances |
2021 £ (30,096) - (119,777) (149,873) - - (149,873) 149,011 (862) 17,273 17,273 |
2020 £ (305,998) 120,500 (128,630) |
|---|---|---|
| (314,128) | ||
| - | ||
| - | ||
| (314,128) 463,139 |
||
| 149,011 | ||
| 149,011 | ||
| 149,011 |
Page 15
Swaminarayan World Organisation (UK) Detailed Statement of Financial Activities
| Income and endowments from: Donations and legacies General donations Gift-aid receivable Total income and endowments Expenditure on: Charitable activities Total of expenditure on charitable activities Premises costs Rent Rates Light, heat and power General administrative costs, including depreciation and amortisation Stationery and printing Total of expenditure of other costs Total expenditure Net gains on investments Net income Transfers between funds Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2021 £ 179,854 18,134 197,988 - 951 4,651 5,602 - 5,602 14,950 - 183,038 (195,000) (11,962) - (11,962) 37,035 25,073 197,988 9,348 9,348 9,348 - |
Total funds 2021 £ 179,854 18,134 197,988 - 951 4,651 5,602 - 5,602 14,950 - 183,038 (195,000) (11,962) - (11,962) 37,035 25,073 197,988 9,348 9,348 9,348 - |
Total funds 2020 £ 57,671 90,578 |
|---|---|---|---|
| 148,249 | |||
| 148,249 7,815 |
|||
| 7,815 | |||
| 1,177 2,457 10,413 7,815 |
|||
| 14,047 | |||
| 543 | |||
| 543 | |||
| 14,590 | |||
| 22,405 - |
|||
| 125,844 (431,842) |
|||
| (305,998) - |
|||
| (305,998) | |||
| 343,033 37,035 |
Page 16