Company number 05276934 Registered charity number 1108689 Shree Ram Krishna Centre Company limited by guarantee Trustees, report and financial statements For the year ended 31 March 2024
Shree Ram Krishna Centre Contents Page For The Year Ended 31 March 2024 Contents Page Trustees. annual report Independent examinerfs report to the trustees Statement of financial activities (including income and expendiiure account) Statement of financial posikn'on Notes to the financial statements
Shree Ram Krishna Centre Company Limited by Guarantee Trustees. Annual Report Iconthu•d) Yearended 31 March 2024 The trustees, who are also the dirtttors for the purposes of company law, present their report and the unaudited financial statements of the charty for the year ended 31 March 2024. Reference and administrative detsils Registered charity name Shree Ram Krishna Centre Charity registration number 1108689 Company registrdtion number 05276934 Principal offlce and rngistered Ground Floor Temple office Loughborough Leicestershire LE11 ING The trustees Mr J Measuria Mr N Chauhan Mr H Measuria Mr K Dave Mr R Jadhav Mr N Misty Mrs R Patel Sir M. Misty Company Socrotary Mr K Dave Independont •xamlnor Andrew Miles FCCA, Bsc (Hons) Director- MilBen Accounts Limrted Chartered Certffied Accountants
Shree Ram Krishna Centre Company Limited by Guarantee Trustees. Annual Report (c* Yearended 31 March 2024 Structure. govornance and management The organization is a company limrted by guarantee. incorporated on 3 Novenkner 2004. The company was established under a Memorandum of AssociatÉon ttich established the objects and pOVr$ of the charttable company and is govemed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10. Recruitment and appoinlment of Management Committee: The directors of the company are also tharity trustees for the purposes of charity law and under the company's Articles are known as members of the Management Committee. Objectives and actfvities The object of the charity is to promote the practrce of Hindu ligIOn and cutture in the multicultural environment. This objeth've is achieved by providing a pla for members of the Hindu community to worship and celebrate religious festivals and organize cultural functions to promote Indian musi¢ and dramatics. Part of the premises is used by the local Council for the benefit of the resident Community. The charity is dependent on the conts'nued ser4ice of unpaid volunteers in all aspects of its activrties. The contribution in tems of hours cannot be accurately quantified in this respect. Achievements and perfornbance The d1CtOrS are satisfied that the charity is achievin9 its obj'ectives set oirt above. Flnancial review The trustees consider that the general fund of the charty has SLrffiaent resources available to fu11 their obligations. It is the policy of the chanty that fiJnd8 vthi¢h have not been deSnated for a specffic use should be maintained at a level equivalent to between three- and six-month's expendrture. The directors consider that reserves at this level )Mll ensure that in the event of a significant drop in funding they will be able to continue the charty's exists'ng activities while consideration is given to ways in which additional may be raised. Small company provbions This report has been pPared in accordan with the provisions applicable to companies entitled to the small companies exemption. The trustees. annual report was approved on 12 December 2023 and signed on behaff of the board of trustees by.. Mrs R Patel Trustee Mr N ML8ty Trustee
SHREE RAM KRISHNA CEPItRE (A company limited by guaranteo) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHREE RAM KRISHNA CENTRE I report to the charity Trustees on my examination of the acEounts of the Charity for the year ended 31 March 2024. RESPONSIBILMES AND BASIS OF REPORT As the Trustees of th8 Charity land its dirèctixs for the pury)oses of company law) you are responsible for the preparation of the accounts in accordance yth the requirements of the Companies Act 2006 {Ihe 2006 Act,). Having sats'sfied myself that the accounts of the Charity are not required to be audtted under Part 16 of the 2006 Act and are eliglble for independent examinalion. I report in respect of my examination of the Charity's accounts caled out under section 145 of the Charities Act 2011 {Ih8 2011 Acf). In carrying out my examination I have followed tha Directions given by the Charity Commission under section 145(5Xb) of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT S have completed my examinats'on. l Can confimi that no matters have come to my attention in (x)nnection with the examination giving me cause to believe: accounting r8cords were not kept in r8SP8Ct of th8 Chanty as required by section 386 of the 2006 Act,. or th8 accounts do not accord wrth those records; or the accounts do not comply with the accnting requirements of sedlon 396 of the 2006 Ad other than any requirement that the accounts give a Inje and faitr view whid) is not a matter considered as part of an independènt 8xamination- or the accounts have not been prepared in ac(J)rdance with the methods and principles of the Ststement of R8comm8nded Practice for accounb'ng and reporting by chariti8s lapplicable to chant18s prepanng their accounts in accordance with the Financlal Reporting Stsndard applicable in the UK and Republlc of Ireland (FRS 102>1 I have no concems and have come across no other matters in 0)nnlIon wtyth the examination to which attention should be drawn in this report in order to enable a proper undwstanding of the accounts to be reached. Andrew Miles FCCA. Bsc (Hons) Director- MilBen Accounts Limited Chartered Certif18d Accountants Independent Examin8r 8 January 2025 Page 3
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Shree Ram Krishna Centre Company Number 5276934 Balanco sheet as at 31 March 2024 Note 2024 2023 Fixed assets Tangible assets 13 409.264 415.747 Total flxed assets 409,264 415,747 Current assets Debtors Cash at bank and in hand 14 3,959 81,662 65,812 Totsl current assets 65.812 85.621 Llablllties Creditors: amounts falling due in less than one year 15 (1,025) (2,019) Net current assets 64,787 83,602 Total assets less current Ilabllltles 474,051 499,349 Net assets 474.051 499,349 The funds of the charlty: Restricted income funds Unrestricted income funds 4,000 495,349 474.051 Total charlty funds 474,051 499,349 The notes on pages 6 to 16 fonn part of these accounts. Approved by the trustees on and SFgned on their behalf by:
Shree Ram Krishna Centre Notes to the accounts for the year ended 31 March 2024 Accounting polici•s The principal acxounting policies adopted. judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows: a Basis of preparatlon The financial ststements have been prepared in ac(x)rdance with Accounting and Reporting by Charities". Statemenl 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) issued in October 2019 - (Charities SORP (FRS 102), and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Shree Rarn Krishna Centre meets the definition of a public benefft entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaclion value unless otherwise ststed In the relevant acwuntlng poliry note. The financial statements are presented in stefling which Is the functional currency of the charity and rounded to the nearest £ sterling. b Judgments and estlmates The trustees have made no key judgments which have a significant effect on the accounts. The trustees do not consider that there are any sources of estimation uncertainty at the reporting dale that have a significant risk of causing a material adjustrnent to the carrying amount of assets and liabilities within the next reporting period. c Preparatlon of the accounts on a going concern bas18 The trustees consider that there are no material uncertainties about the charitsble companvs ability to continue as a going concem. d Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been meL it is probable that the income will be received and the amount can be measured reliably. Income from govemment and other grants. whether 'capital' grants or 'revenue' grants. is recognised when the charity has entitlement to the funds. any p8rfonmance condib'ons attached to the grants have been met, it is probable that the income will be reiVed and the arnount can be measured reliably and is not defeed. Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are meL
Shree Ram Krishna Centre Notes to the accounts for the year ended 31 March 2024 (continued) e Interest recelvable Interest on funds held on deposit is induded when receivable and the amount can be measured reliably by the charity. this is normally upon notification of the inlerest paid or payable by the Bank. f Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unreslricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted fijnds are donations which the donor has specffied are to be solely used for particular areas of the charitys work or for specific projects being undertaken by the tharity. g Expendlture and Irrecoverable VAT Expenditure is recognised once there is a legal OT constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expendlture Is dassrfled under the following activity headings: Costs of raising funds comprise the costs of fundraising and the associated support Expenditu on charitsble 8ctivits.es indudes the costs undertaken to further the purposes of the charty and their assoctated support costs. Irrecoverable VAT is charged as a cost against the activrty for whith the expenditure was J Tangible fixed assets Individual fixed assets are capitalised at cost and are depreciated over their estimated useful economic lives as follows.. Freehold propety Fixtures and fittings Temple fixtures and fittings 1Yo per annum of cost 15. reducing balance 10'/o reducing balanc8 k D•btor8 Trade and other debtors are recognised at the setuement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Shree Ram Krishna Centre Notes to the accounts for the year ended 31 March 2024 (continued) e Intsrest receivabl• Interest on funds held on deposit is induded when receivable and the amount can be measured r81iably by the charity. this is nomally upon notrficab'on of the interest paid or payable by the Bank. f Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charitys work or for specific projects being undertaken by the charity. g Expondlture and Irrecoverable VAT Expenditure is recognised On there is a legal or constructive obligation to make a payment to a thlrd party. it is probable that settlement will be required and the amount of the obligation can be measured rellably. ExpendIbj is dassified under the following activity headings: Costs of raising funds comprise the costs of fundraising and the associated support Expenditure on charitsble activits'es indudes the costs undertaken to futher the purposes of the charity and their assoaated support costs. Irrecovèrable VAT is charged as a o)st against the activrty for which the expenditur6 was J Tangible fixed assets Individual fixed assets are capitalised at cost and are depreciated over their estimated useful economic lives as follows.. Freehold propety Fixtures and fittings Temple fixtures and fittings 1% per annum of cost 150A reducing balance 10'h reducing balance k Debtors Trade and other debtors are recognised at the setuement amounl due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Shree Ram Krishna Centre Notes to the accounts forthe year ended 31 March 2024 {continued) I Cash at bank and in hand Cash at bank and cash in hand includes cash and short tem highly liquid investrnents with a short maturity of three months or less from the date of acquisition OT opening of the depostt or similar account. m Credltors and provisions Credrtors and provisions are recognised where the chanty has a present obligation r8sults.ng 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 rneasured or ests'mated reliabty. Creditors and provisions are nomially recognised at their setuement amount after allowing for any trade discounts due. n Financial Instruments The charity only has financial assets and financial liabilities of a kind that qualrfy as basic financial instruments. Basic financial instruments are initially recognised at transaction valu8 and subsequently measured at their setdement value wilh the exception of bank loans which are subsequentty measured at amortised cost using the effective interest method. L•gal status of the charlty The charity is a company limrted by guardntee registered in England and Wales and has no share capital. In the event of the charity being wound up, lh8 liability in respect of the guarant68 is limited to £10 per member of the charity. The registered office address is disdosed on page 1.
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Shree Ram Krishna Centre Notes to the accounts for the year ended 31 March 2024 (continued) Net Incomel(expendlture) for the year This is stated after chargingl(crediting): 2024 2023 Depreciation Accountancy fees - Independent examiner fees Accountancy fees - other fees 6.483 300 600 6.667 300 Staff costs Staff costs during the year were as follows: 2024 2023 Wages and salaries Social security costs P8nsion costs 1.813 1.368 1.813 1.368 No employees had employee benefits in excess of £60,000 (2023: Nil). The average monthly number of staff employed during the period was 1 (2023: 1 }. The full time equivalent number of staff during the period was 1 (2023: 1). The key management personnel of the charity comprise the trustees. 11
Shree Ram Krishna Centre Notes to the accounts for the year ended 31 March 2024 (continued) 10 Trustee remuneratlon and expenses. and related party transactions No trustee or person dosely related or connected wrth them received any remuneration during the year (2023: Nil)- There were no donations from related parties which are outside the nomial course of business and no restricted donations from related parties. No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2023: nil). 11 Government grants The government grants recognised in the accounts were as follows: 2024 2023 Covid-19 cleaning grant 2.000 2,000 There were no unfulfilled conditions and contingendes attaching to the grants. 12
Shree Ram Krishna Centre Notes to the accounts for the year ended 31 March 2024 (continued) 12 Corporation tax The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity. 13 Fixod assets: tangible assets Fixtures. Marble, Fumiture & Temple idols Equipment & paintings Freehold Property Total Cost At 1 April 2023 Additions Disposals 487.837 11,094 100,120 599.051 At 31 March 2024 487,837 11,094 100.120 599.051 Depreclatlon At 1 April 2023 Charge for the year Disposals 87,807 4,879 10,447 97 85,050 1,507 183,304 6,483 At 31 March 2024 92.686 10.544 86,557 189,787 Not book valuo At 31 March 2024 395,151 550 13,563 409,264 At 31 March 2023 400,030 647 15,070 415,747 14 Debtors 2024 2023 Trade debtors 3,959 3.959 13
Shree Ram Krishna Centre Notes to the accounts for the year ended 31 March 2024 (continued) 15 Creditors: amounts falllng due wlthln one year 2024 2023 Accruals other creditors Taxation and sccial security costs 98 27 19 1,025 2.019 16 Analysis of movements in restricted funds Current reporting period Elalance at31 March 2024 Balance at 1 April 2023 Income Expenditure Transfers Covid-19 deaning grant 4.000 (2,000) {2,000) Totsl 4,000 (2.000) (2,000) 8t1 Apnl 2022 at37 Merch 2023 Income Expenditure Tr8nsfers Covid-19 cleaning grant 4.000 Totsl 4,000 Name of restricted fund Covid-19 Cleaning grant Descrlptlon. naturn and purpos•s of the fund Grant used to ensure cleanliness of the premises. 14
Shree Ram Krishna Centre Notes to the accounts for the year ended 31 March 2024 (continued) 17 Analysis of mov•rnent In unrestricted funds Current period Asat31 March 2024 Balance at 1 April 2023 Income Expenditu Transfers General fund 495.349 40.988 (64,286) 2,000 474.051 Total general funds 495.349 40,988 (64,286) 2.000 474.051 Priorperlod Balance at l Apnl 2022 Asat31 March 2023 Income Expenditure Transfers General fund 480,544 44.924 (30.119) 495,349 Total gener81 funds 480,544 44.924 (30.119) 495.349 Nam6 of unrestrlctsd fund General fund Description. natur• and purposos of tho fund The free reserves after allowing for all designated funds 15
Shree Ram Krishna Centre Notes to the accounts for the year ended 31 March 2024 (continued) 18 Analysls of group net assets between funds Current reporllng perlod General fund Designated Restricted funds funds Totsl Tangible fixed assets Net cuent assetsl{liabilikn'es) 409.264 64.787 409,264 64,787 Tota 474.051 474,051 Prevlous rnportlng period General fvnd Designated Restiicted funds funds Total Tangible fix8d 8SS8ts Net cuff8nt asSet(li8bft1th'eS) 415.747 79.602 415.T47 83.602 4,000 Total 495.349 4,000 499,349 16