Reglstarod Charlty . 1106357 Company R¢glstratlon Numbor: 05009754 JAIN VISHVA BHARATI LONDON ACHARITABLE COMPPy UMrrED BY GUARANTEE Report and Accounts Year ended 31 March 2024
JAIN VISHVA BHARATI LONDON ACHfvJIITABLE COMPANY UMITED 8Y GUARPIITEE Roport and Accounts Year ended 31 March 2024 Contenls Pago Legal and administrative information TnJstees' report 2to9 Independènt 8xaminers' report 10 Statement of financial actlvltSes {Incorporatlng Income and expendlture statement) Balance Sheet 11 12 Notes to the accounts 13to21
JAIN VISHVA BHARATI LONDON ACHNIUTAeLE COMPANY UMITED 8Y 13U*JIMITEE Legal and admlnistrativa inforniatlon Charlty namè: JAIN VISHVA BHARATI LONDON Nature of governlng document: Memorandum and Articles of Assoclatlon Charity registered number: 1106357 Registered company number 05CKi9754 The board of trust•e•ldlroctors: Mr Hasmukh Vora Mr Manickchand Chorarla Mr Raj85h Jain Mrs Pragna Damani Mr Raj88v Shah Mr Sunil Dugar Mrs Pushpa Bhantia Mr Jeetendra Dhel8ria Socr•tary: Mr Manickchand Chor8rla Registered offlco and contre address 8 Elm Park Road Pinner MlddL HA5 3LA England. UK Independent examlners: Rashmi Shah & Co Chartered Accountants 62 Bertram Road Hendon London NW4 3PP Principal bankors: Natlonal Westminsler Bank PIC 12 Station Parade, Willesden Green London NW2 4NN
JAIN VISHVA BHARATI LONDON ACNlJItTABLE COMPANY LIMtrED 8Y ¢YJARANTEE Truste•8' Report Year ended 31 March 2024 The Trustees. who are also Directors of th6 Charitable Company I"ChariW') for the purposes of the Companies Act, present thelr annual report and unaudlted accounts for the year ended 31 March 2024. The Trustees confirm thal the annual report and accounts compty with currént 51atutory requirements and the statement of Rocommendad Practice - Accounting and Réporting by Charities SORP appllcable to chariiié8 preparlng their accounts in accordance with FRS 102. Slrudure, Govornance and Managemont Govornlng document Th8 charity is nstitUted as a company limited by guarantse and is govemed by its Memorandum and Arttcles of Associatlon, dated 21 November 2003. and is regislered with the Charity Commissioners. The charrty has no share capilal and Is a company limited by guarantée. Under the terms of its Memorandum of Association the membèrs of thè company are the DlrectorslTrustees who ar6 liable to contribute a sum not exceedlng £1 in the event that the compgny is wound up whilst they are a member or for one year thereafter. The number of trustees during Ihe year were eighL The Charity is under the overall Control of th8 Trustees, who conduct th8 affairs of the Charity in conjunction with the re$idlng Jain Nuns {Samanijis) and ex8CUttve committee. Prfnclpal obJectlve8 and aims The Trustees review th8 Charitys principal aims, objectives and activities each year to ensure thal the Charlty remains focused on Its stated purpose over the next 12 months to spr8ad the universal message of Jain Philosophy and Jain Wisdom principally within the UK, Europe and the World, to cultlvat8 an atmosphere Ihal nurtures non-violence, restraints and philosophy of multiple aspects of the truth and thereby leads to splritual enlsghtenment for human kind. There were no slgnificant changes to th• main objectives and aim8 of th8 Charfty durlng the year. The objects for whlch the charlty is established a. to advance the Jain prlnciples through promoting the understanding and culllvallng interest in Jain teachlngs and culture. lo advance educatlon and promote public wellbeing by organislng seminars, workshops and camps on sciènce of living, medltstlon, the principle of restralnt and vows (Anuvrat) movement, Non-violence and Yoga. to enhan public welb61ng through the promotion of Preksha meditstion, Yoga and laxatIon techniques. to promote religious harmony by dlalogue wtth other commun5tle5 and faiths lo foster better understanding of the Jain faith and support ¢ommunity cohe810n. Dlrectors and Trustsos The followin9 persons served as directors l trustees durin9 the year: Mr Hasmukh Vora Mr Manickchand Choraria Mr Rajesh Jaln Mrs Pragna Damani Mr Rajeev Shah Mr Sunil Dugar Mrs Pushpa Bhantta Mr Jeetendra Dh8laria
JAIN VISHVA BHARATI LONDON ACHpiirrA8LE COMPANY LIIIITED BY GUARANTEE Trustees, Roport Year ended 31 March 2024 Organisational structure The tTUStees are responsible for the general control. decislon making and day to day managemant of the charity wtthout remuneration and any other financial benefit. The charity is organised so Ihat the trustees meet regularly and WFth the Jain nuns and executive committee to manage its affairs and activities with the assistance of working groups and volunteers. Recruitment, appolntment. inductlon & training of Trustees The existing trustees l Board") are responsible tor the appointment and removal of trustees in accordance wlth the Charity's Memorandum and ArtiGles of Association. The Charity has an open recruitmant procedure for new Trustees who are nominated frorn among the wider membership. When considering co-opting truslees. the Board has regard to the requirement for any specialist skills needed for election to th& office. To futh•r onhance the organization's scalability. an Executive Comrnittee has bfjon formulated and Momr8 of this team have been appolnled.. The Charlty encourages policies and procedures for the induction and training of both new and existing Trustees so that th8y can famlllarls8 themselves the Charity and the context wlthln which it operates: drawlng the Trustees attentlon to the Charity Commls5ion webslte and publlcations 51gnposted through the Commission's gulde Essential Trustee.. New trustees undergo induction lo brlef them on their lègal obligations under charity and company law, the content of the Memorandum and Articles of Assoclallon, and meet the other trustees, executive committee, working groups., together withthe declslonqnaking processes. busin8ss plan and recent financial perfomiance of thè charity. Trustegs are encouraged to attend appropriate exlemal tralnlng 6vgnts where these facilltat8 the undertaklno of their role. Membershlp Membershlp Is open to both Jalns and Non-Jains for thelr own advancement through Jain principalg. Risk managomont The trustees activdy reviews the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels. combined vith ongoing and annual review of the conlrols over key financial systems to be adequate. The Trustees are satisfied that there are appropriate controls in place to provide reasonable assurance againsl fraud or error and to de81 with risks identified. In particular. annual insurance cover is in place to safeguard activities and assets owned by the charity. Publi¢ benefit statemant The Trustees confirni that they have referred to the Charity Commission's general guidance on pub5ic benefit and in particular ils supplementsry public guidance on the advancement of religion for the public benefit- when reviewing the Charitys aims and objectives in planning future activities. and in particular how the planned activities will further and reflect its aims and objectives for the benefit of the public. The Charity has achieved this objective by means of a range of activities, working groups. adivitses and education with both Jain and non- Jain.
JAIN VISHVA BHARATI LONDON ACH*JIITABLE COMPANY UED ey GuAR4TEE Tru$t•es' Report Year ended 31 March 2024 Investment poll¢y The Charity Policy is to make such investments as the Trustees see fit and which meets with the requirements of its objectives for the varlous funds. The Trustees, current pollcy Is to Inv8sl excess funds reserves in bank depo$lts earning interest. The Trustee$ ¢ornslder that the return on investments is satisfactory in the current Èconomic climate and available interest rates. cooperatIOn with other organisations and bodles (both charitable and non charitablo) From time to tlme, the Charity receivès from and provides to other Jaln and Non-Jaln organisations both langible and intangible assistsnce for the furtherance of its objectlves. It also collaborats$ wlth other charltsble and non<harltabl8 organlsatlons whan necessary and in accordance with its obj8cIIv8S. The Charity actively engages with other organisations to 8dvise and promote training, educatlon, research and academic excellen¢e of Jainism. Plans for th• future Key plans that the Charity is committed to in the medlum temi include: to contlnue building a comprehensive collectlon of rèference matsri81 for a library (books. audio & video material, pholographlc materlal etc.). to promot8 understanding and cultural values of Jain religion through drama and educational programmes, dlscourses, educational classes, workshops, retreats and youth groups. to set up a 8enior citizen group. providing a variety of activitie8 that will enable soclal Sntsraction for enh8nclng their wellbelng. Revlew and summary of key actlvltles Jain Vishwa Bharati London IJVB London) provides excellent programmes and actlvlties in a hybrid mode, both in-person as well as vla Zoom, including emminent speakerslartists from the UK and across the world. There have been multiple activities undertaken durlng the year, The trustees would like lo thank whole-heartedly various groups of volunteers who continues to provid& the Charity with ihelr skills and advice. The Charity o)ntinues to undertaké positive steps to manage both operatlonal and financi81 issues and to futfii its aims and objective and the Irustees consider that the Charity remains a golng conc&rn. The followlng kèy actlvtties were undertaken durlng ihe flnanclal year. Ibel Jain Nuns (Samanijisl continue to provlde spiritual counselling to the members of the Jain soclety and other communities at large, by telephone and personal visits to peoples. homes te support them for bereavemenl. health issues, prelpost-surgery, anxlety, depression, stress. etc. They also bless the members of the Jain society and other communiti85 during important life events such as Pre-natal, birth and namlng ceremony; Schoolin9 and examination5; New hous8 and business inauguration., Weddlng & birthday celèbrations. In addition Samanijls compose songs wtth a personal touch for the Individual's OGhievement, be it blrthdays. anniversaries, graduations etc.
JAIN VISHVA BHARATI LONDON AcHITABLE COMPANY LIMITED BY GUARANTEE Trustees. Report Year ended 31 March 2024 Continued- Key actlvltles undertaken durfng the financial year: Da o•kl & Mo es.. Preksha meditaUon Is conducted daily helping people who participate to start thelr day in a calm and relaxing way, provldlng vibrant energy throughout the day. Meditation is followed by daily recitation of Bhaktsmara Stotra ona of the most profound prayers of the Jain philosophym together wlth d8ily chanting of a host of mantras that brlngs both relaxatSon to the mlnd as w811 pray for physlcal and 8motion81 wellbeing of the Ilsteners. to promote health and wellbeing. no led e& Jwb London continu8d offéring Sanskrit ¢ourses on 18aming this ancient language and daln prayers. These courses were run by highly qualified teach8rs. The Introduction to Sanskrit & Jain prayers courses covered the basics of Sanskrit followed by learnirig a Jain prayer Mahavirastak. Besides, JVB London Jain world p6ac8 C8ntr8 has organlsed various religious and cultural events throughout the year. Some of the main 8v8nls are listed as below.. Aprll 2023:Participatlon In exhlbition at SOAS Unlverslty. On 14th April, "Jainism Inslde Out" was launched with the "Pure Soul" exhibition at SOAS (School of Orientsl and African Studias) University. Many Jain organlsallons came together to help set up the exhibition. From Jain Vishva Bharati, Samanijls along with volunteers helped In th8 d8sign and preparation of some displays for the exhlbltlon. Som8 of the displays had mannequins dressed as Jaln asG8tICS. and SamanlSls h8lped in labeling some of the vlsual displays. On 22nd April, JVB Gyanshala also participated in programs held at the Brunel Gallery. Around 60 children and adults from JVB participated in various medltation and yoga aclivllles. Thè Gyansh818 program enrlched th8 Vlsltors. experl8nce by provldlng them wf(h a on&of-a-klnd medltallv8 experlen¢e. The exhlbltlon brought about more awareness of the Jain rellglon to th8 public and brought together many Jain groups to celebrate the Irue essence of Jainism. Juna 2023: Talks on Appllod Anuvrat Sories - A serl8s of lectures on applicatlon of vows by householders to elevate themselves In their Spiritual journeys. July 2023: Preksha Medltatlon Rètrgat at Sl. Felix School, Southwold (IP16 6SD), under the theme "Unveil Your Greatnes5.' The retreat, conducted by Samani Pratibha Pragyaji and Samani Punya Pragyaji, offered a comprehenslve exp8ri8nce, including a Forest Walk. Beach Meditatlon, Yoga Asana$. Mudra & Mantra, Pranayama, and Ihought-provoking18Ctur6s aimed at unlocking one's inner potential. August 2023: A lecture serlfrg on Karmavaad - the understandlng that every action leaves a karmic imprint on the soul, and it is through th8 purification of kama that one can break free from the cycle of birth and d8ath and achleve ultimat8 liberation. S¢ptembor 2023., Paryu8han. It Is an 8-day long ¢elebrallon of spiritual discour8es, muslcal events. lectures. family performances. Th8r6 are multiple activlties that complete families partlclpate in, along with various types of fasting as per individual capacity. The Jain community united in these activities under the guidance of respected Samanllis. October 2023: 8ouvenir magazine and Agam. A Commemorative Souv8ni8r mag8zine was publlshed to C819brate 20 years of JVB London wlth donation recolv8d work on preparing this ¢ommenced during the Summer. Also an initiative undertaken to gather donaOn to obtsin Agam sets for the purposes to presenting these to all Jain monks, nuns, samans and samanllls.
JAIN VISHVA BHARATI LONDON ACHlABLE COMPA14Y UMtTeD BY GUARAJ4TEE Trustees. Roport Year ended 31 March 2024 ContInu- Key actlvilles undertakon durlng the flnancial year: Novomber 2023: Dlwall Programmè: A group of 10 families ("Udyot Group") came together to celebrate the festival of Diwall, th6 fastrval of lights. Thls occasion commemorates the anniversary of Lord Mahavir's attainment of moksha. which means freedom from the ¢yde of r61nGamation. Diwali is a celebration of Lord Mahavirfs teachings and his contributions not only to religion but to greater humanity. HIS teachings promote compassion and jusllce through ahimsa (nonpviolence), advocating the importance of equalty among a51 living beings. Mahavira promotsd the concept of aparlgraha or non-possessiveness to protect biodiversty from human greed. Another Important fundamental philosophy he advocated was Anekanada or the prfnclple of pluralism and multiplicity of vSewpoints. and the adoption of compassion and non-violence as a way of1Sfe. Diwali was a momentous event, filled wth joy, light, and spiritual enllghtenment. This special Diwali event came wlth Musical Bingo. Bha}an Mash-up and lots of fun activities followed by snacks & high-tea. Thls Is the time to reaffirm one's faith and to try to follow the path shown by the great teacher Lord Mahavira. Under the spiritual guidance of Samanijis, hymns were sung and mantras chanted to ttonour the Lord. Novomber 2023: Uttaradhyayan Sutra Vachan: Uttaradhyayan8 or Utt8r8dhy8yana Sutra is one of the most important sacred books of Jains. It consists of 36 ¢hapters. each of which deals with aspects of Jain doctrine and disclplln8. It contains the actual words of Bhagwan Mahavira - the 24th Tlrthankara in Jainism. November 2023: Special Lecture on How to earn auspicious karma by Samani Malay Pragyaji. De¢ember 2023: A lecturg s¢rle$ on "How to avold Paap" In Jainlsm, Paap réfers to sinful adions or negative k8rma that bind the soul and lead to sufferlng. leading it further into the ¢yde of blrth, death, and reblrth (samsara). The concept of avoiding Paap is central to Jain ethical teachings, and 11 Involves refraining from acllons that cause harm to oneself, others, and the environment. January 2024: Uvasaggaharam Path: JVB London organized the Parshwanath Jayanti, to commemorate the birth anniversary of Lord Parshwanath, the 23rd Tirthankara of Jainlsm. This event was held to seek spiritual blessings and achieve p8ace of mind. Within this evént, JVB London familles participated in pairs to recite Uvasaggaharam Stotra as a mark of devotlon and spirituality. followed by lunch. January 2024: Nav Varsh Abhinandan: New year was celebrated in the community Iwth exciting games. music, dance and delicious food. The programme was organls8d by Abhyuday group, a group of 10 families in thè communlty on 13 Jan 2024. February 2024: Bhaktamara Anushtaan: A special Bhaktsmafa Anushthaan was conducted by Dr. Manju Jain on Feb 4th, 2024. It Involved the recitation of the great Jain Prayer and a scholastic discussion on each of its verses and relevance in the current times. February 2024: Special Lecture on "Tab hola hai dhyaan ka Janam" (Thon tho meditation Ss bom) by Dr. Dilip Saraogi to explaln what all preparation is required in Ihe mind and body to truly engage in meditstion and derive benéflls to the fullest. February 2024: Lacture Series on 12 Vows of Jalnlsm by Samani Malay Pragyall. A special lecture series on the different mini vows of Jain Shravak to lead a spiritually uplifting 1Sfestyle even as a householder in society. Fobruary 2024: Medlcal Scr•onlng Camp was organised Sunday, 25th February. 2024 The agenda included a Talk by Dr. Ajal Kumar, Psychiatric Consultsni + Q&4. a Talk by Dr. Anshoo Dhelaria, Paediatric Consultant + Q&A, a Vegetarian Lunch and lasty m8dlcal tests were conducted In the centre and results rp.nnrtp.d And dl%vAJAAArt.. BMI_ nxvop.n LFJVAI. BP. BlnrM4 8IJoAf And ljrlnfi tfixt8
JAIN VISHVA BHARATI LONDON ACHARITA8LE COMPANY UMITED BY GUIRAATEE Trustees. Report Year ended 31 March 2024 Contlnued- Key actfvltles undertaken during the flnanclal year: March 2024: In the auspl¢lous guldance of Samanl Malay Pragyajl & Samanl Neotl Pragyaii, JVB London celebrated Holl on 17th March 2024. This féstiv8 occasion had a pléthora of activities and experiences for all attendees: .Vandaml Pravachan: An enlightening dlscourse. •Entert8inment: Uvely perf¢)mancès and cultural presonlations. .Games'. Excltlng traditional games. .Mulll-¢ui5inè and a variety of dell¢ious dishes. .Photo Booth to capture and cherish memories. The celebration enhanced the joy and camaraderie in the social group and was sponsored by the Indradhanush Group of ten famllles in thè sodéty. March 2024: Revislt by Samanljls: On March 24, 2024. JVB London celebrated the visit of our prevlous Samaniji'8- Dr. Samani Pratibha Pragyall and6amani Punya PragyalS- from Florida USA. It brought tog8ther 4 Samaniji's in our ¢entre and provided a reason for all the people In the community to come together and take blessinqs from them. Gyanshala celebrated a variety of festivals such as Moth8rfs Day. Easter, holldays, and Diwali. This allows chlldren to find links belween our Jain religion and the wider sodetal Cultures in the UK. They are all celebrated with presentations, dances, discusslons, and show and tells, fvrther creating an element of fun that keeps chlldren returning to Gyanshalg. Gyanshala not only provides childr6n with a well-rounded experience but also helps keep Jain faith and religion alive in a foreign county. February 2024-Fundraising event for charity. Frnohold Property The Charity continued it's acllviti8s and online events during the year from thé Jain World Peace Centre (JWPC) 6-8 Elm Park Road Pinner durlng the financial year and commenced planned renovations I refurbishments at the premises and building a new kitchen with approvfjd planning pemiission. The works are expected to be completed after the year-end at total costs of c.£60k of which c£14k spent during the year. A sale contract was entered into during the year-end 31 March 2023 to dispose of Ihe property at 3941 Roxborough Road Harrow and thrs disposal VRS included within the financlal year ending 31 March 2023 as an adjusting post balanc8 sheet event. Furth8r d8tslls ar8 provided in nots 15 to the a¢counts. The Charity completed the sale of the propety at 3941 Roxborough Road. Harrow in August 2023 and repaid all bank and other loans.
JAIN VISHVA BHARATI LONDON A CHPJIITABLE COMPANY UMITED BY GUARANTEE Trustees, Report Year ended 31 March 2024 Financial revlew The charity's unrestricted fund received a total income for the year of £146,762 (2023: ££124,934) and had charitable expènditure of £79.921 (2023:£53,509) resulting in a surplus of £66,841 12023: £71,425); and this surplus was transferred to the accumulated unrestricted funds reserves amounting to £323,233 {2023'.£256.3921. The charity during the year conducted various activit6es which are detailed above under review and summary of key activities. the surplus arising mainly from ev8nts and activities. The Charlty has a restricted fund £ Nil received total donations and income of £17.514 (2023: £5,562) and had expenses of £44,321 (2023:£74,181 } resultlng In a deficit of £26,807 (2023: deficit £68,619). Surplus arising on sale of the property at 3941 Roxborough Road Harrow £Nil {2023:£489,471 } resulting in a total net deficit of £26,807 (2023:nfjt surplus amount of £420,852) and thls was transferred to the accumulated restrl¢t8d funds reserves amountlng to £1,092,780 (2023:£1,119,5871. The deficit during the year arises mainly due to Interest payab18 on the bank loan now repald. The Trustees a¢knovA8dge and thank the tremendous efforts of all the volunteers and supporters of th8 Charity for their kind seNices and generous donations and the charivs extemal accountant and Indep6ndent examiner Rashmibhai Shah for his Continulng advlce provided during the year in a honorary capacity. Rosorves policy Trustees are conscious of their responsibility to ensure that Charity remalns on a sound financial footing and are aware of the growing pressure on finances to make declslons on where th8y place financial support for charitable and educational initiatives and aclivities at a desired level from free reserves. The Trustses review the Charitvs reserves policy for unrestricted fund at SnteNals during the year by reviewlng accounts and income and expenditure budgets., and the current level of unrestricted fund represents over tlmes annual expenditure for adivltles and to meet unforeseen expenditure for the next year. In order to maintsin the rrent 18vel of reserves. the Trustees continue to implément slrategies to restrlct any deficits incurred at various charitsble activities and events of the Charity. In order to maintain the current level of r8S8rves, the Trustees continuè to implement strategies to restrict any deficits incurred al varfous charltablè activities and 8v8nts of th8 Charity. The incoming resources are being utllised to finance the continuing ¢harftable activities & events, PMIseS costs and governance & strategy At 31 March 2024 the charlty had sufficient free net current assets to meet ongoing runnlng and activlties & events costs. The Trustses continue lo review vmys of fund raising through donalions, explore and increase various activlli8S and events.
JAIN VISHVA BHARATI LONDON A CHARITABLE COMPANY UMITED BY GUARNJITEE Trustees. Report Year ended 31 March 2024 statement of Directorsrrru$tees' responslbllltles The Trustees are responslbl8 for preparing the Trustees, Report and the accounts In accordance with applicable law and United Kingdom Accounting Standards {Unlted Kingdom Gènerally Acceptsd Accounting Practice). The law applicable to charllies in England and Wales requlres Ihe Trusteès to prepar8 accounts for each financial year which give a true and fair view of the stat8 of affairs of the charlty and of the incoming resources and application of resources of Ihe charity for that year. In preparing these fln8nci81 staternenls, the Trustees are requlred to- select Suitsble account5ng policies and th8n apply them conslstently; observe the methods and principles in the Charities SORP 2015 (FRS 102)., • make judgements and estimates that are reasonable and pruden(. state whether applicable UK accounting standards have been followed, subject to any material d8partures disclosed and explain8d In the financial statements- and prepar8 trte accounts on the golng concem basis unless it is in8ppropriats to presume that the charity will continue in operation. The Trustees are responsible for maintaining proper accounting records that are sufficient to shDW and explain the charitys transactions and disclose wilh reasonable accuracy at any time the financlal positlon of the Charity and to enabl8 them to ensure that the accounls comply with the Charltles Act 2011 and Compani8s Act 2006, the requirements of tre Statsm8nt of Recommended Practice Accounting and R8PQrting by Charitles.. statement of recommended prsctice appllcable to charities preparing their accounts in accordance wlth the Financial Reporting Standard appllcable in th6 UK and Republic of Ireland IFRS102118ffeclive 1 January 2015) - Charities SORP FRS1021, the Financial Reporting Standard applicable In thé UK and Republi¢ of Ireland (FRS102), the Charity (Accounts and Reports) Regulatlons 2008 and the provisions of the trust deed. They are also responsibl8 for safeguarding the assets of the Charity and hence for takin9 reasonable steps for the prèvention and detection of fraud and other irr8gularities. This report was approv8d by the trustses On**lcernber 2024 asmukh Vora Trustee
JAIN VISHVA BHARATI LONDON A CHARABLE COMPANY LIMITED BYGUARAP4TEE Year ended 31 March 2024 Independent examin•rfs rgport on the unaudited a¢counts to the truste8s of the Jain Vishva Bharati London I report to the trustees of the Jain Vl8hva Bharati London (the Charfty) on the accounts for the year ended 31 March 2024, which ¢ompris8 the Statement of FinanGial Activiti8s, the Balance Sheet and the relatsd notss. Thls rewrt is made sol8ly to the Chaws trust885, as a body. My work has been undertaken so that I Mh1 State to the Irustees Ihose matters l am required lo state to them In an independent 8xaminer's report and for no other purpose. To the fullest extent permitted by law, I do not accept or a88ume responsibility to anyone other than the Charity and the Charf(l8 tru8tee8 as a body, for my work. for this report or for the opinion I have fomed. Respective rosponsltsllltles of tru8tO08 and independent examiner As described in the 8tstement of trustees, r88ponslbi1stle$ in the Trust8as' Raport, the Charity's trustees are responsible for the preparatyon of the accounts and they consider thel the charity 18 exempl under section 144 of the Chadties Act 2011 Ith8 2011 Acll and exempt under part 16 of the Companles Act 2006 and that an independent examination is needed. Having satisfied myself that the charity is nDt subject to audit under Charities Act and is eliglble for independent examlnatlon,11 is my responsibillty to.. examin8 the accounts under ge¢tion 145 the 2011 Act.. . to follow the appll¢able Dlrectlons given by the Charty Commission under 8ecllon 145151{bl of th8 2011 Act- and . to stsle whether partlcular matters have come to my attentlon. Basis of Independent examinaS roport My examination was carrled out in accordance with th& General DIreon8 glven by the Charmy Commission. My 8xamlnatlon includ8s a review of the accounting records kept by the charity and a compartson of the accounts presented with those record8.11 also includes consideratlon of any unusual it8ms or disc108ures in the accounts, and seeking exp18n8tion8 from the trustees conceming any suth matters. The procedures undertaken do not provide all the ovidgn¢e that would be requirgd in an audit, and consaquenly no oplnSon is given as to whgth8r the accounts preserrt a Irue and falf vlew and the report is limlled to those matters sel out in Ihe ststement below. Independ•nt gxamingfs statement The charity'8 gro85 income did not exceed £250,0, but an independent examinolion w88 requested by the trusioes; which requlres your examiner must ba a member of a body listed in sectlon 145 of the 2011 Act. I confim) that l am qualifled to undertake the 8xaminatlon because l am a member of the Instiluts of Chartered Accountants in England and Wales, which is one of the Ilsted bodies. In connection wlth my examination, no matter ha$ come to my attentlon: 1. whi¢h gives me reasonable cause to believe that In, any material respect, the requirements.. . to keep accounllng re¢ords in accordance wlth sectlon 386 of the Companles A¢1 2006,. and • lo prepare accounts which accord with the accounting re¢ord$ and comply wlth the accounting requir•menls of Secllon 396 of the Companies Acl 2(N)6 and wlth th8 methods and prlnclples of th8 Statement of Recommended PRGliGe.' Accounting and Reporting by Charities appllcab18 to Financial Reportlng Standard applicable to UK and Republic of Ireland IFRS 102) {8ff8ctive 1 January 20151- (Charities SORP FRS 10211., have not been mel: or 2. to whlch. In my opinion, attentlon should be drawn in order to enable a proper under8landlng of the accounts be reached. Rashmikant R Shah Indep8ndenl Examlner Rashmi Shah & Co Chartered Accountants 62 Bertram Road London NW4 3PP Dated=30 December 2024 10
JAIN VISHVA BHARATI LONDON A CH*ATABLE COMPANY UMITED BY GVARI14TEE Statement of financial activities (Incorporatlng Incomo and oxpendliure 8tat•mgnt} Year ended 31 March 2024 Unrestrlctèd Restri¢tod Funds Funds Total Funds 2024 Tolal Funds 2023 Notes Incomlng resources Incoming resources from generat funds Donatlon5 and legacies MembèTS' subscriptions Donations 52,068 17.514 69.582 29,207 Investmont income Bank interest 1,562 1,562 149 Income from charitablè activitles Events and activities 93,132 93,132 101,140 Total In¢ome 146 762 164276 130 496 Resources oxpended Expenditure on Charflablo actlvltles Events and activities 77.651 6,750 84,401 58,737 Olher oxpenditure 2,270 37,571 39.841 68,953 Total exponditure 79,921 44,321 124,242 127,690 Net Incom•l8xpenditure 66,841 (28,807} 40,034 2,806 Exceptional Item -surplus on sale of 489,471 Not movement In funds 66.841 (26,8071 40,034 492277 Total funds at beglnnlng of year 12&13 256,392 1,119,587 1,375,979 883,702 Total funds at ond of year 323.23 There are no recognlsed gains and losses other than those in the statement of financial activities, and therefore no statement of totsl recognised gains and losses has been prepared. All incoming resourcès and resources exp8nded dérivè from continuing actlvlli8S. 11
JAIN VISHVA BHARATI LONDON A CHIRrrABLE COMPANY uMrrED BY GUARWITEE Company Rogl8tratlon Numbor: 05009754 Balanc• Sho•t as at 31 March 2024 Notos 2024 2023 Fixed assets Tangible assets 1,289,759 1,281,053 Current as8•ts Debtors Cash at bank and in hand 7.141 123,220 130.361 1.352,156 57,853 1.410.009 Credltors: amounts falllng due wllhln one yoar 10 (4.107) (1,315,083) Net current assets 126,254 94.926 Total assets less curront liabllltles 1,416,013 1,375,979 Total assets16ss current liabllitles 1,416.013 1,375,979 Unrestrieted funds General fund 11&12 323,233 256,392 Restricted funds 11&12 1.092,780 1.119.587 Total funds 11&12 1,416,013 1,375,979 The directorsltru8te85 are satisfied that the company is entitled to exemplion from the requirement to obtain an audit under section 477 of the Companles Act 2008. The members have not required the company to obtain an audit in a¢¢ordance with section 476 of the Act. The directorsllrustees acknowledge thelr responsibilities for cOmpln9 with the requirements of the Companles Act 2006 with respect to accounting records and the preparation of accounts. Approved by the DlractorsruSteeS on 30 Decembér 2024 Mr aiysh Jain Trustee 12
JAIN VISHVA BHARATI LONDON ACHIRITABLe COMPANY LIMrrED BY OU*RANTEE Not•s to the Accounts Year ended 31 March 2024 1 Accountlng pollcles a Basls of accounting The accounts havè bean pr8pared in accordance with the Statement of Recommended Prectice Accounting and Reporting by Charities.. ststement of recommended practi¢e applicable to charitles preparing their accounts in accordance with th8 Financial Reporting Standard appll¢abl8 in the UK and Republic of Ireland (FRS1021 (effectlve 1 January 2015), (Charities SORP FRS102), tho Flnancial R8POrting Standard applicable In lh8 UK and Republic of Ireland IFRS102), and th8 Charities Act 2011 and the Companies Act 2006. The charity is exempted from preparing cash flow statement due to adoptlon of tn8 8x8mption available to small charltl6s wlth Income less thgn £500.000 (Charities SORP (FRS 102)-update bulletin 1, Feb 2016). Assets and liabilities are InIallY recogni8ed as historical cnst or trans8CtSon value unle88 Otherwise stated in the relevant accountlng policy or note. b Golng concern The trusteés considér that th8r8 8re no material uncertalnties about the charitable company's ability trj continue as a golng concem under normal circumstances and contlnues to meet ongoing costs. with bank and other loans repaid on or before agreed due dates. The trustees do not conslder that th8r8 are any sources of estlmatlon unc6rtalnty at th8 reporbng date thal may have a slgnlflcant r18k of causlng a material adjustment to the carrylng amounts of 8SS8ts and liabllltles vhthln the next reportlng perlod. Company status The charilable Company has no sha18 capital and is 8 company limited by guarantee, Und8r the temis of its Memorandum of Association the memb8rs of the company are the DirectOrsrus1o6S who are liable to contribute a sum not exc88ding £1 in the event that the company is wound up whilst they are 8 member or for one year Ihereafter. The number of trustees at present 1$ nlne. d Public beneflt entlty The Jain Vishva Bharati London meets the definition of a public entlty under FRS 102. Con¢es$ionary loans.. The charity received intsrest fr8e loans from cértain trustees and members. Thè rat8s for these interest free loans a below th6 prévailing market rates of interest of a similar commercial loan. The loans have been trealed as publlc benéfit conc6sslonary loans under the definition in the Flnanclal Reportlng Slandard FRS 102. These loans ar8 reported al the amount recelved. The loans heve not been discounted to thelr pr6sent value and the liability in subsequent y8ars is not recognised at amortised cost using the eflective intsrest rate method. e Fund a¢¢ountlng Unrestricted funds are incoming resources recelvable or generated for the furtherance of th8 objectives of the Charity wtthout a 8peclfled purpose and are available as general funds. Resourc8S 8XP8nded which meet these criteria are charged to tha funds, together with a falr allocallon of staff and 8UPPOrt costs. Restricted funds are used for the specific purpose$ laid down by the donor or sponsor. Resources expended which meet these criteria are charged to thè funds. 13
JAIN VISHVA BHARATI LONDON ACHARITABLE COMPANY LIMITED BY GUARANTEE Notes to tho Accounts Year ended 31 March 2024 1 Accountlng policies (continued) f Tanglblo fixed assets Fixed assets ar8 statad at cost less accumulated depreciation. The Charity considers that the exlsllng functional freehold building is maintained In a good stat8 of repair and the life of the bullding considered to be long. No depreciation has been charged on freehold land and resldual value. Depreciatlon is charged on remaining asset cost over its estimatsd us8ful economic life on a 8tralght-lin& basls as follows.. Fr6ehold bulldlng net of land and residual value- 2% (50 years). Other fixed assets - 250/0 {4 y88rs). An annual impairment review Is undertaken by the Charity. in aOrdance with the requlrements of th8 Charities SORP FRS 102, to ensure that the recoverable amounts of the tanglbl8 assets are not lower than their current values. Disposal of fr88hold propety is recognised in the financlal accounts when signlficanl risks and rewards of ownership have been transferred to the purchaser, this Is on unconditional &xchang8 or legal complelion. A disposal of freehold prop8ty was completed in August 2023 for Gonlract exchanged before March 2023 and sale was reflected as an adjusting post balance sheet event in accounts for y8ar ended 31 March 2023. Debtors Debtors are re¢ognlsed at the sethement amount due after allowing for any discounts and as per the terms agreed. Prepaym6nts are v81ued at the arnounts prepald for sernices and accrued income are valued at the amounts dué per terms agreed and th8re is certainty of receipt. h Creditors and pmvlslons Creditors and provSsions 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 obligatlon can be measured or estlmat8d rgliably. Credbtors and provision are n(xmally r8cognised at their setdement amount after allowing for any dlscounts. I Cash and cash equlvalents Cash at bank and cash in hand includes bank balance kept in current and deposit accounts. Flnanclal instruments The charity only has flnancial a55ets and financial liabilities of a klnd that qualifies as basic flnanci81 Instruments. Basic financlal Instruments are Inlttally recognised at transaction value and subsequently measured at thelr amortlsed costs. k Incon Income is recognised In the period when the charity has énlillement lo the funds, sny performan¢e conditions attathed to th& income have been met, it Is probable that the incom8 wlll be received and that the amount can be measured reliably and Is nol d6f8rred, Income received in advance of the provision of a sp6clfied service is deferred until the critsria for Income recognition are m8t. Income comprisè of funds recelvèd from donations, events and activities and are included either as unrestrlcted funds and u8ed for general purposes of Ihe charity or donatlon recelved for purpose speolfied by the donor as restricted funds. Th8y are recognlsed in th8 Statement of Flnancial Activitie8 in the perlod. The value of s8rvice8 provided by volunt8ers has not been quantified and included in the accounts. Investment Incom8 is included in the Statèment of Financial Actlvities In the period in which it 15 receivable. 14
JAIN VISHVA BHARATI LONDON A CHARJTP2LE COMPANY LIMITED BY GUAK4NTEE Noto8 to tho Accounts Year ended 31 March 2024 1 Accountlng pollcles (contlnued) I Interest recelvablo Int8resl on funds held in bank account is included wh8n receivable and the amount can b8 measured Teliably by the charlty; this is normally upon notification of the interest paid or payabl8 by the bank. m Expendlture Expendlture incurred is recognised in th8 period On there is a legal constructive oblSgatlon to make a payment to a thSrd paty. It is probable that Settlement will be required and the amount of th8 obligation can be measured reliably. Expenditure Includes 8llributable VAT vthlch cannot be recovered, Is classified under the following activity heading: Costs of raising funds relate to the costs incurred by the charitable company in including third parties to make a voluntary contributions to it, as well as th8 Cost of any actlvlles with a fundraisin9 purpose and their directly attrlbutable or allocated associated support costs. Expenditure on charitable activitie5 include the costs of charitsble actlvitles that is undertaken to further the Purpose of the charity and their directly attributable or allocated associatéd support costs. Expenditure is alloc8ted to the particular activity where the cost relates direcdy to that actlvlty. Both staff and 5UPPOrt costs have bèen allocated to each activity per accounting policy note lm below (see Note 4 for Ilnratlnnl n Allocation of Staff and support costs These are management and administralion costs and comprise expendltur8 not directly attributable to the generated funds, charitable or fund ralslng a¢lfvtties of the Charlty, but relats to furtherance of the charitys objectives. They are th8r8for8 allocated to the rdevant category of resources expended based on estimates of the proportion of costs and tlmè devoted to each of the relevant activity. o Taxatlon Th8 Charity is exempt from taxation on its charitable activities, as it is a reglst8r8d charity. p Forèlgn currencles Transa¢Uons In foreign currencles are recorded at the rats ruling at the date of tho transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rale of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. 15
JAIN VISHVA BHARATI LONDON A CHARITPBLe COMPANY LIMITED BY GUARANTEE Not88 to the Accounts Year ènded 31 March 2024 2 Crltlcal accounting èstirnates and Judgemènts There are no significant areas of judgemént or key sources of 8stimation uncertainty arising from the preparation of accounts. 3 Net incomelexpendltur• 2024 2023 These a stated after charging". Depreciation of owned tangible fixed assels Trustees, indemnity insurance 7,626 2,160 7,087 1,751 Truslees fees and exponses No fees. remuneration or benefits were paid to any of th8 Trustees during the current or previous year. 4 Incomo 2024 2023 Income from donations Donations unre$lrict8d Donations restricted 52.068 17.514 23.645 5.562 69,582 29,207 Incorne from Charltable actlvltles - Events and Actlvltles Paryushan & Maitri Milan Musical Events Mahavlr & Parsvanalh Jayanti Saddhu V8iyava¢hl -support for Nuns: Travel & Visa costs & Farewell Celebralion Diwali and Other Evenls Regular acllvitleslOther8 Gyanshala, Courses & Sanskrlt etc. Annual Retreat Commemorative Souvenir Magazine Agam Sets 15,589 1.351 6,792 6,843 48.221 21.008 14.420 10,623 5,498 1,280 3,064 13,065 21,941 17,709 4,955 782 1.131 93,132 101.140 Invéstment income - Bank Interest 1,562 149 Total Income 164,276 130,496 16
JAIN VISHVA BHARATI LONDON A CHARif*BLE COMPANY LIMITED BY GUARANTEE Not•8 to tho Accounts Yaar ended 31 March 2024 5 Expendlturo Analy515 of total expendlture Premlses & support costs 2024 2023 Dlrect costs Totsl Total Charitsblo actlvities Donations - Agam Sets Events and actlvities P8ryushan & Maitri Milan Musical events Mahavir & Parsvanalh Jayanli Saddhu Vaiyavachi -support for Nuns.. Travel & Wisa costs & Farewell Celebration Diwali and Other Events Ragular activities including Social and Advisory services Gyanshala, Courses &Sanskdt etc. Annual R8tr8at Commemorallve Souvenlr Maoazine 14.558 1,810 16,368 7.707 9,915 500 3,705 1.914 97 715 11.829 597 4,420 11.246 10.307 5,845 20.001 3,862 23.863 4.283 2,127 411 2.538 4,539 621 120 741 6.921 78 9,486 3,360 15 1,831 1,649 93 11.317 5.009 76.775 51,650 Restrf¢ted funds: Buildlng loan interest Depreclatlon 37,571 7,626 101,54 37,571 7.626 67,094 7,087 121,972 Other expendlture Reporting accountsnts, fees (See note below} Insurance IlnG. Trustees, indgmnty} Bank & Other charges 2,160 2.160 110 1,751 110 110 2,160 2.270 1.859 Total expendituro 109,658 14,584 124,242 127,690 Staff. premises and support costs Premises and support costs are allocated to each calegory of resources expended based on estimates of th8 proportion of cost and time spent in relation to the relevant activity- The total cost of key management personal (no pension contributions made) during the year was £Nil {2023= £Nill. The charity has no paid employees and is now entirely reliant on unpaid Jain Nuns and volunteers for organising and running administration. events & activities and thelr cost are not included as these services cannot be quantified in money terms. The average number of full time equivalent volunteers as estimated for the year were 24 {2023'.18). Trustees. romun•ration The charity trustees do not receive any remuneration and were nol paid any fees ft)r proféssional or other services and for any 6xpenses during the course of their dulles in 2024 or 2023 Reportlng accountants. fees Reporting accountants, have provided serylces on an honorary basis and have not charged any fe85 or expenses. The deemed value of servlces donated exduding VAT amounted lo £2,60012023: £4.000) and has not been reflecl&d in the accounts. 17
JAIN VISHVA BHARATI LONDON A CHARJTABLE COMPANY LIMITED BY GUARANTEE Not•£ to tha Accounts Year endad 31 March 2024 6 Exc•ptlonal Itom 2024 2023 Surplus on sale of propety 489,471 Surplus on sale of propety represents the disposal of 3941 Roxborough Road Harrow as disdosed in note 15 as a one off transaction. 7 Tangible flxed assets Freehold Property Equipment Total Cost At 1 April 2023 Additions in year Disposals At 31 March 2024 1,287.464 14,182 3,764 2,150 1,291,228 16,332 1,301,646 5,914 1,307,560 Depre¢latlon At 1 Aprll 2023 Charge for the year On disposals At 31 March 2024 6.749 6.749 3,426 877 10,175 7,626 13,498 4,303 17,801 Net book value At 31 March 2024 1.288,148 1,611 1,289,759 At 31 March 2023 1,280,715 338 1,281,053 The value of functional freehold property at 6-8 Elm Park Road Pinner is stated at fair value as in the opinion of the trustees the market value is not materially different from depreciated cost. The property was occupied during the year and value Df the land attributed at £550,000 with the balance £737,464 attributed to the building which is deemed to have a residual value of £400.000 and the net balance depreciated at 20A on a straight line basis being the new specific depreciation policy as determined by the Charity. refurbishments works at the property and building a new kitchen with approved planning permission at Jain World Peace Centre IJWPCI 6-8 Elm Park Road Pinner. The works are expectad to be completed after the year-end al total costs of c.£60k of which c£14k spent during the year. Thase costs have not yet been depreciated as the works are to be completed post year end. 8 Debtors 2024 2023 Unrestricted Prepayments and accrued income 5,000 1.239 Re$trlcted Debtors- see not8 16 2,141 1,350.917 7,141 1.352,156 18
JAIN VISHVA BHARATI LONDON ACHAPJT*£LE COMPANY LIMrrED BY GUARANTeE Notos to tho Accounts Year ended 31 March 2024 9 Cash at bank and In hand 2024 2023 Unrestrlctèd General Fund 19,734 46.858 Restrl¢tsd Building Fund 103,486 10,995 123,220 57,853 10 Creditors: amounts falling due within on? year 2024 2023 Unrestricted CdItOrS and accru818 4.107 25.083 Restricted Bank Loans- see nol8 b8low Other loans- see note below 1.200,000 90,000 4,107 1,315,083 Thè bank loan totalllng £ Nil (2023'.£1,200,000) were secured by a first charge over the freehold land and buildings owned by the charity, these charges were released vthen the bank loan was repaid in August 2023.The average rats of interest charged on the bank loan was c.7.51 Yo (2023.'c.5.21°h). Other loans totalling £ Nil {2023.'£90,000) for the property purchases are unsecured and interest free. These loans by agreement wer8 repaid during the year. Bank and other loans were reported at the amounl received as adlusted for any unpaid accrued interest. The loans were not dls¢ountgd to their present value. Both bank and other loans were repaid during August and September 2023 from the sale proceeds from the sale of propety 39-41 Roxborough Road Harrow- see nots 15. 19
JAIN VISHVA BHARATI LONDON ACHAPJTABLE COMPANY LIMITEO BY OUARANTEE Noto8 to th• Accounts Year ended 31 March 2024 11 Analysls of not assets bfrtween funds (see noto 12) Unre8trl¢ted R•stricled Funds Funds Total Funds 2024 Total Funds 2023 Fixed assets Current assets Current liabilitSes Transfers due between funds 1,289,759 105,627 1,289,759 1.281,053 130,361 1.410,009 14,107) (1,315,083) 24,734 14.1071 302.606 (302,6061 Net assets 323.233 1,092,780 1,416.013 1,375,979 The transfer beeen funds represent an adjustment for financing from the unr8slrlGted funds for restricted fund expenses malnly being bank interest. purchas8 of propety and Improv8ments. 12 m0MentS in funds Incomlng Resources rosources expend•d Transfers bètween nds Asat 31 March 2024 1 Aprll 2023 Restrl¢ted funds (see note 11 8ulldlng Fund 1.119,587 17,514 (44.3211 1.092.780 Totsl restricted funds 1,119,587 17,514 144,321 } 1,092,780 Unrestrlctsd fund$ Is?0 noto 11) General Fund 256.392 146.782 (79.921) 323,233 Total unrestricted fund8 256,392 146,762 {79.921) 323.233 Total funds 1,375,979 164,276 124,242 1,416,013 13 Purposes of funds Rostrl¢t•d Building Fund Thls fund r&presents the freehold bullding setving as the Jain World Peace Centrè for the ch8rltys activitles less IlabS1itles. Unrestrictsd General Fund This fund represents Incoming resources recelvable or generated for th9 furtherance of the objectlves of th8 Charity without a specifi8d purpose and are avallable as general funds for any of the Charitys purposes and on-going activitles and events. 20
JAIN VISHVA BHARATI LONDON ACHARITABLE COMPANY LIMrrED BY OUARANTEE Notes to the Accounts Year onded 31 March 2024 14 Related parties At the end of the year interest free loans owing to trustees amounted to £Nil 12023- £70.000) and all outstsnding loans were repaid during the year in August Iseptember 2023 - see note 10. 15 Post balancg sheèt events The Charity had exchanged contracts for the sale of propety at 3941 Roxborough Road Harrow during the financial year ending 31 March 2023 and the sale was completed on 30 August 2023. The disposal of this a55el was included within the accounts for year ending 31 March 2023 as an adjusting post balance sheet event and the transactions shown in the accounts as per the completion statement and reflected in- -surplus on disposal included in the Statement of Financial Activities Ilncome and Expenditure AccountFnote -Disposal of the property was included under fixed assets-note 7. -Funds received on completion in August 2023 was Included under debtors-note 8 and used to repay the bank and other loan-note 10. 16 Capltal Commltmont The Charfty during the financial year commenced planned renovations I refurbishmenls works at the propety and building a new kitchen wlth approved planning pemiission at Jain Wodd Peace Centre (JWPC) fv8 Elm Park Road Pinner. The works are 8xpectsd to b6 completed after the year-end at total costs of c.£60k of which c.£14k spent during tha year. 17 Controlling Party The Company is a charltable company limited by guarantee and has no sh8re capllal but und8r its Memorandum of Association every guarantor is liable to contribute a sum not exceeding £1 in the event the company is wound up whilst they are a guarantor for on8 year thereaftér. The guarantors arè the Directorsl Trustees and therefore no one person controls the company but the Directorsl Trustees as a body control the Company. 18 Presentation currency The financial statements are presented in Sterfing. 19 Logal fomi of entity and Country of incorporation Jain Vishva Bharali London is a charitable trust govemed by its Memorandum and Articles of Association and is incorporated in England and Wales. 20 Principal placo of business and rogistered offlce Jain Wortd Peace Centre 8 Elm Park Road Plnner Middx. HA5 3LA 21