REGISTERED CHARITY NUMBER: 1111503
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 FOR HINDU WELFARE ASSOCIATION OF ESSEX
HINDU WELFARE ASSOCIATION OF ESSEX
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 10 |
| Detailed Statement of Financial Activities | 11 to 12 |
HINDU WELFARE ASSOCIATION OF ESSEX
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1111503
Principal address
HWA School House Community Centre Church Road Noak Hill Romford Essex RM4 1LD
Trustees
B K Goyal Chairman A Kaushal Vice Chairman D Purohit Secretary A Shah Sumitra Goyal
Committee members Mr Sunil Gupta Mr Satya Aggarwal Dr Sanjay Wazir Mrs Shiela Dookooah Mr K K Singh
Executive Committee Members and Trustees are elected in accordance with the rules as laid down in the constitution. Their role is honorary and the committee members do not receive any remuneration.
Independent examiner
Faruk & Company Chartered Certified Accountants 23 Wards Road Ilford, Essex IG2 7AZ
Bankers
Lloyds TSB Bank Plc Barking Branch 11 Station Road Barking Essex IG11 8ED
Advisers
Faruk & Company Chartered Certified Accountants 23 Wards Road Ilford, Essex IG2 7AZ
SCOPE AND REGISTERED CHARITY NUMBER
The charity was established by its constitution dated 16th January 2005, and is registered with the Charity Commission in England and Wales under No 1111503.
Page 1
HINDU WELFARE ASSOCIATION OF ESSEX
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The principal activity of the Association during the year, which has remained unchanged from previous years, was that of advancement of Hindu religion.
Significant activities
During the year all the major functioned were celebrated.
FINANCIAL REVIEW
We were able to generate donations of £45,860 from the devotees during the year.
Approved by order of the board of trustees on ............................................. and signed on its behalf by: 28/09/2021
............................................. B K Goyal - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HINDU WELFARE ASSOCIATION OF ESSEX
I report on the accounts for the year ended 31 March 2021, which are set out on pages four to ten.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
My role is to state whether any material matters have come to my attention giving me cause to believe:
-
that accounting records were not kept as required by section 130 of the Act; or
-
that the accounts do not accord with those records; or
-
that the accounts do not comply with the accounting requirements of the Act; or
-
that there is further information needed for a proper understanding of the accounts.
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
Faruk Ahmed Chartered Certified Accountants 23 Wards Road Ilford, Essex IG2 7AZ
Date: ............................................. 28/09/2021
Page 3
HINDU WELFARE ASSOCIATION OF ESSEX
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| 31.3.21 | 31.3.20 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total funds | Total funds | ||
| funds | funds | ||||
| Not | £ | £ | £ | £ | |
| es | |||||
| INCOMING RESOURCES | |||||
| Incoming resources from generated funds | |||||
| Voluntary income | 78,774 | - | 78,774 | 72,008 | |
| Activities for generating funds | 2 | 3,101 | - | 3,101 | 9,725 |
| Investment income | 3 | 4 | - | 4 | 22 |
| Total incoming resources | 81,879 | - | 81,879 | 81,755 | |
| RESOURCES EXPENDED | |||||
| Costs of generating funds | |||||
| Costs of generating voluntary income | 4 | 29,621 | - | 29,621 | 33,951 |
| Governance costs | 536 | - | 536 | 3,536 | |
| Total resources expended | 30,157 | - | 30,157 | 37,487 | |
| NET INCOMING RESOURCES | 51,722 | - | 51,722 | 44,268 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 462,390 | - | 462,390 | 418,122 | |
| TOTAL FUNDS CARRIED FORWARD | 514,112 | - | 514,112 | 462,390 |
The notes form part of these financial statements
Page 4
HINDU WELFARE ASSOCIATION OF ESSEX
BALANCE SHEET
AT 31 MARCH 2021
| 31.3.21 | 31.3.20 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total funds | Total funds | ||
| funds | funds | ||||
| Not | £ | £ | £ | £ | |
| es | |||||
| FIXED ASSETS | |||||
| Tangible assets | 8 | 714,729 | - | 714,729 | 714,729 |
| CURRENT ASSETS | |||||
| Debtors | 9 | 1,020 | - | 1,020 | 2,620 |
| Cash at bank and in hand | 13,175 | - | 13,175 | 11,045 | |
| 14,195 | - | 14,195 | 13,665 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 10 | (8,688) | - | (8,688) | (4,048) |
| NET CURRENT ASSETS | 5,507 | - | 5,507 | 9,617 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 720,236 | - | 720,236 | 724,346 | |
| CREDITORS | |||||
| Amounts falling due after more than one year | 11 | (206,124) | - | (206,124) | (261,956) |
| NET ASSETS | 514,112 | - | 514,112 | 462,390 | |
| FUNDS | 12 | ||||
| Unrestricted funds | 514,112 | 462,390 | |||
| Restricted funds | - | - | |||
| TOTAL FUNDS | 514,112 | 462,390 |
The financial statements were approved by the Board of Trustees on ............................................. and were signed on 28/09/2021 its behalf by:
............................................. B K Goyal -Trustee
The notes form part of these financial statements
Page 5
HINDU WELFARE ASSOCIATION OF ESSEX
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. ACTIVITIES FOR GENERATING FUNDS
| Advertisement Raffle Diwali function 3. INVESTMENT INCOME Deposit account interest 4. COSTS OF GENERATING VOLUNTARY INCOME Staff costs Support costs |
31.3.21 £ 3,101 - - 3,101 31.3.21 £ 4 31.3.21 £ 10,883 18,738 29,621 |
31.3.20 £ 3,900 1,050 4,775 9,725 31.3.20 £ 22 31.3.20 £ 4,500 29,451 33,951 |
|---|---|---|
Page 6
HINDU WELFARE ASSOCIATION OF ESSEX
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021
5. SUPPORT COSTS
| Management | Finance | Totals | |
|---|---|---|---|
| £ | £ | £ | |
| Costs of generating voluntary income | 13,313 | 5,425 | 18,738 |
| Support costs, included in the above, are as follows: | |||
| Management | |||
| 31.3.21 | 31.3.20 | ||
| Costs of | |||
| generating | |||
| voluntary | |||
| income | Total activities | ||
| £ | £ | ||
| Rates and water | 833 | 1,931 | |
| Insurance | 1,829 | 1,816 | |
| Light and heat | 3,824 | 3,475 | |
| Telephone | 211 | 170 | |
| Postage and stationery | 1,177 | 48 | |
| Sundries | 1,302 | 1,557 | |
| Diwali function | - | 980 | |
| Musicians | - | 50 | |
| Repairs & Maintenance | 3,023 | 1,740 | |
| Cleaning | 1,056 | 1,372 | |
| Navratre | - | 3,533 | |
| Equipment purchases | 58 | 3,860 | |
| 13,313 | 20,532 | ||
| Finance | |||
| 31.3.21 | 31.3.20 | ||
| Costs of | |||
| generating | |||
| voluntary | |||
| income | Total activities | ||
| £ | £ | ||
| Bank charges | 347 | 395 | |
| Bank loan interest | 5,078 | 8,524 | |
| 5,425 | 8,919 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Page 7
HINDU WELFARE ASSOCIATION OF ESSEX
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021
| 7. | STAFF COSTS | |||
|---|---|---|---|---|
| 31.3.21 | 31.3.20 | |||
| £ | £ | |||
| Wages and salaries | 10,883 | 4,500 | ||
| The average monthly number of employees during the year was as follows: | ||||
| 31.3.21 | 31.3.20 | |||
| Priest | 1 | 1 | ||
| No employees received emoluments in excess of £60,000. | ||||
| 8. | TANGIBLE FIXED ASSETS | |||
| Freehold | Improvements | |||
| property | to property | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 April 2020 and 31 March 2021 | 634,729 | 80,000 | 714,729 | |
| NET BOOK VALUE | ||||
| At 31 March 2021 | 634,729 | 80,000 | 714,729 | |
| At 31 March 2020 | 634,729 | 80,000 | 714,729 | |
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.3.21 | 31.3.20 | |||
| £ | £ | |||
| Other debtors | 1,020 | 2,620 | ||
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.3.21 | 31.3.20 | |||
| £ | £ | |||
| Other creditors | 8,688 | 4,048 | ||
| 11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | |||
| 31.3.21 | 31.3.20 | |||
| £ | £ | |||
| Bank loans | 206,124 | 261,956 | ||
| 12. | MOVEMENT IN FUNDS | |||
| Net movement | ||||
| At 1.4.20 | in funds | At 31.3.21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 462,390 | 51,722 | 514,112 | |
| TOTAL FUNDS | 462,390 | 51,722 | 514,112 |
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HINDU WELFARE ASSOCIATION OF ESSEX
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement in | |
|---|---|---|---|
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 81,879 | (30,157) | 51,722 |
| TOTAL FUNDS | 81,879 | (30,157) | 51,722 |
| Comparatives for movement in funds | |||
| Net movement | |||
| At 1.4.19 | in funds | At 31.3.20 | |
| £ | £ | £ | |
| Unrestricted Funds | |||
| General fund | 416,220 | 46,170 | 462,390 |
| Restricted Funds | |||
| Havering CPCG | 1,902 | (1,902) | - |
| TOTAL FUNDS | 418,122 | 44,268 | 462,390 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement in | |
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 81,755 | (35,585) | 46,170 |
| Restricted funds | |||
| Havering CPCG | - | (1,902) | (1,902) |
| TOTAL FUNDS | 81,755 | (37,487) | 44,268 |
| A current year 12 months and prior year 12 months combined position is as follows: | |||
| Net movement | |||
| At 1.4.19 | in funds | At 31.3.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 416,220 | 97,892 | 514,112 |
| Restricted funds | |||
| Havering CPCG | 1,902 | (1,902) | - |
| TOTAL FUNDS | 418,122 | 95,990 | 514,112 |
Page 9
HINDU WELFARE ASSOCIATION OF ESSEX
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement in | |
|---|---|---|---|
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 163,634 | (65,742) | 97,892 |
| Restricted funds | |||
| Havering CPCG | - | (1,902) | (1,902) |
| TOTAL FUNDS | 163,634 | (67,644) | 95,990 |
Page 10
HINDU WELFARE ASSOCIATION OF ESSEX
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| INCOMING RESOURCES Voluntary income Donations Grants Arti Activities for generating funds Advertisement Raffle Diwali function Investment income Deposit account interest Total incoming resources RESOURCES EXPENDED Costs of generating voluntary income Priest Governance costs Legal fees Support costs Management Rates and water Insurance Light and heat Telephone Postage and stationery Sundries Diwali function Musicians Repairs & Maintenance Cleaning Navratre Equipment purchases Finance Bank charges Bank loan interest Total resources expended |
31.3.21 £ 45,859 25,386 7,529 78,774 3,101 - - 3,101 4 81,879 10,883 536 833 1,829 3,824 211 1,177 1,302 - - 3,023 1,056 - 58 13,313 347 5,078 5,425 30,157 |
31.3.20 £ 50,165 7,410 14,433 72,008 3,900 1,050 4,775 9,725 22 81,755 4,500 3,536 1,931 1,816 3,475 170 48 1,557 980 50 1,740 1,372 3,533 3,860 20,532 395 8,524 8,919 37,487 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 11
HINDU WELFARE ASSOCIATION OF ESSEX
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| Net income | 31.3.21 £ 51,722 |
31.3.20 £ 44,268 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 12