2022-03-31-accounts - Hindu Welfare Association Of Essex

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REGISTERED CHARITY NUMBER: 1111503

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

HINDU WELFARE ASSOCIATION OF ESSEX

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

	Page
Report of the Trustees	1 to 3
Independent Examiner's Report	4
Statement of Financial Activities	5
Balance Sheet	6
Notes to the Financial Statements	7 to 15
Detailed Statement of Financial Activities	16 to 17

HINDU WELFARE ASSOCIATION OF ESSEX

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

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.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1111503

Principal address

HWA School House Community Centre Church Road Noak Hill Romford Essex RM4 1LD

Page 1

HINDU WELFARE ASSOCIATION OF ESSEX

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

Trustees

B K Goyal Chairman (resigned 19.7.22) D Purohit Secretary A Shah A Kaushal Chairman S Goyal S Wazir (appointed 31.10.22) Committee members Mr Sunil Gupta Dr Sanjay Wazir Mrs Shiela Dookooah

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

Ashfords Partnership LLP 114 - 116 Goodmayes Road Ilford Essex IG3 9UZ

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 2

HINDU WELFARE ASSOCIATION OF ESSEX

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

FINANCIAL REVIEW

We were able to generate donations of £93,949 from the devotees during the year.

Approved by order of the board of trustees on 28 February 2023 and signed on its behalf by:

A Shah - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HINDU WELFARE ASSOCIATION OF ESSEX

Independent examiner's report to the trustees of Hindu Welfare Association of Essex

I report to the charity trustees on my examination of the accounts of Hindu Welfare Association of Essex (the Trust) for the year ended 31 March 2022.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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 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:

accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 accounts to be reached.

Faruk Ahmed Ashfords Partnership LLP 114 - 116 Goodmayes Road Ilford Essex IG3 9UZ

28 February 2023

Page 4

HINDU WELFARE ASSOCIATION OF ESSEX

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 114,959 Other trading activities 2 1,910 Investment income 3 1 Total 116,870 EXPENDITURE ON Raising funds 4 48,067 NET INCOME 68,803 RECONCILIATION OF FUNDS Total funds brought forward 514,112 TOTAL FUNDS CARRIED FORWARD 582,915	Restricted funds £ - - - - - - - -	31.3.22 Total funds £ 114,959 1,910 1 116,870 48,067 68,803 514,112 582,915	31.3.21 Total funds £ 78,774 3,101 4
			81,879
			30,157
			51,722 462,390
			514,112

The notes form part of these financial statements

Page 5

HINDU WELFARE ASSOCIATION OF ESSEX

BALANCE SHEET

31 MARCH 2022

Notes FIXED ASSETS Tangible assets 9 CURRENT ASSETS Debtors 10 Cash at bank and in hand CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 12 NET ASSETS FUNDS 14 Unrestricted funds TOTAL FUNDS	Unrestricted Restricted funds funds £ £ 714,729 - - - 15,114 - 15,114 - 1 - 15,115 - 729,844 - (146,929) - 582,915 -	31.3.22 Total funds £ 714,729 - 15,114 15,114 1 15,115 729,844 (146,929) 582,915 582,915 582,915	31.3.21 Total funds £ 714,729 1,020 13,175 14,195 (8,688) 5,507 720,236 (206,124) 514,112 514,112 514,112

The financial statements were approved by the Board of Trustees and authorised for issue on 28 February 2023 and were signed on its behalf by:

A Shah - Trustee

The notes form part of these financial statements

Page 6

HINDU WELFARE ASSOCIATION OF ESSEX

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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

Plant and Machinery

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.

continued...

Page 7

HINDU WELFARE ASSOCIATION OF ESSEX

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES - continued

Fund accounting

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. OTHER TRADING ACTIVITIES

Advertisement 3. INVESTMENT INCOME Deposit account interest 4. RAISING FUNDS Raising donations and legacies Staff costs Support costs	31.3.22 £ 1,910 31.3.22 £ 1 31.3.22 £ 11,704 36,363 48,067	31.3.21 £ 3,101 31.3.21 £ 4 31.3.21 £ 10,883 19,274
		30,157

continued...

Page 8

HINDU WELFARE ASSOCIATION OF ESSEX

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

5.
SUPPORT COSTS
Management
Finance
£
£
Raising donations and legacies
32,522
3,841
Support costs, included in the above, are as follows:
Management
31.3.22
Raising
donations
and
legacies
£
Rates and water
5
Insurance
1,982
Light and heat
3,738
Telephone
202
Postage and stationery
100
Sundries
1,296
Repairs & Maintenance
20,379
Food
94
Cleaning
1,076
Navratre
1,915
Car Park
891
Equipment purchases
844
32,522

Totals
£
36,363
31.3.21
Total
activities
£
833
1,829
3,824
211
1,177
1,302
3,023
-
1,056
-
-
58
13,313

continued...

Page 9

HINDU WELFARE ASSOCIATION OF ESSEX

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

5. SUPPORT COSTS - continued Finance

SUPPORT COSTS - continued Finance
	31.3.22	31.3.21
	Raising
	donations
	and	Total
	legacies	activities
	£	£
Bank charges	528	347
Bank loan interest	3,313	5,078
	3,841	5,425

Governance costs
	31.3.22	31.3.21
	Total	Total
	activities	activities
	£	£
Legal fees	-	536

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.

continued...

Page 10

HINDU WELFARE ASSOCIATION OF ESSEX

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

7. STAFF COSTS

The average monthly number of employees during the year was as follows:

31.3.22 Priest - No employees received emoluments in excess of £60,000. 8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 78,774 - Other trading activities 3,101 - Investment income 4 - Total 81,879 - EXPENDITURE ON Raising funds 30,157 - NET INCOME 51,722 - RECONCILIATION OF FUNDS Total funds brought forward 462,390 - TOTAL FUNDS CARRIED FORWARD 514,112 -	31.3.21 1 Total funds £ 78,774 3,101 4
	81,879
	30,157
	51,722 462,390
	514,112

continued...

Page 11

HINDU WELFARE ASSOCIATION OF ESSEX

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

9. TANGIBLE FIXED ASSETS

Improvements Freehold to property property £ £ COST At 1 April 2021 and 31 March 2022 634,729 80,000 NET BOOK VALUE At 31 March 2022 634,729 80,000 At 31 March 2021 634,729 80,000 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.22 £ Other debtors - 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.22 £ Trade creditors (1) Other creditors - (1)	Totals £ 714,729	Totals £ 714,729
	714,729
	714,729
	31.3.21 £ 1,020 31.3.21 £ - 8,688 8,688
		8,688

continued...

Page 12

HINDU WELFARE ASSOCIATION OF ESSEX

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

12.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
			31.3.22	31.3.21
			£	£
	Bank loans (see note 13)		146,929	206,124

13.	LOANS
	An analysis of the maturity of loans is given below:
			31.3.22	31.3.21
			£	£
	Amounts falling due between two and five years:
	Lloyds Loan A/c-00807089		146,929	206,124

14.	MOVEMENT IN FUNDS
			Net
			movement	At
		At 1.4.21	in funds	31.3.22
		£	£	£
	Unrestricted funds
	General fund	514,112	68,803	582,915
	TOTAL FUNDS	514,112	68,803	582,915
	Net movement in funds, included in the above are as follows:
		Incoming	Resources	Movement
		resources	expended	in funds
		£	£	£
	Unrestricted funds
	General fund	116,870	(48,067)	68,803
	TOTAL FUNDS	116,870	(48,067)	68,803

continued...

Page 13

HINDU WELFARE ASSOCIATION OF ESSEX

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

14. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement
At 1.4.20
in funds
£
£
Unrestricted funds
General fund
462,390
51,722
TOTAL FUNDS
462,390
51,722
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
81,879
(30,157)
TOTAL FUNDS
81,879
(30,157)
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At 1.4.20
in funds
£
£
Unrestricted funds
General fund
462,390
120,525
TOTAL FUNDS
462,390
120,525

At
31.3.21
£
514,112
514,112
Movement
in funds
£
51,722
51,722

At
31.3.22
£
582,915
582,915

continued...

Page 14

HINDU WELFARE ASSOCIATION OF ESSEX

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

14. 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:

Unrestricted funds General fund TOTAL FUNDS	Incoming resources £ 198,749 198,749	Resources expended £ (78,224) (78,224)	Movement in funds £ 120,525 120,525

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2022.

Page 15

HINDU WELFARE ASSOCIATION OF ESSEX

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

INCOME AND ENDOWMENTS Donations and legacies Donations Grants Arti Other trading activities Advertisement Investment income Deposit account interest Total incoming resources EXPENDITURE Raising donations and legacies Priest Support costs Management Rates and water Insurance Light and heat Telephone Postage and stationery Sundries Repairs & Maintenance Food Cleaning Navratre Carried forward	31.3.22 £ 93,949 8,000 13,010 114,959 1,910 1 116,870 11,704 5 1,982 3,738 202 100 1,296 20,379 94 1,076 1,915 30,787	31.3.21 £ 45,859 25,386 7,529
		78,774 3,101 4
		81,879 10,883 833 1,829 3,824 211 1,177 1,302 3,023 - 1,056 - 13,255

This page does not form part of the statutory financial statements

Page 16

HINDU WELFARE ASSOCIATION OF ESSEX

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Management Brought forward Car Park Equipment purchases Finance Bank charges Bank loan interest Governance costs Legal fees Total resources expended Net income	31.3.22 £ 30,787 891 844 32,522 528 3,313 3,841 - 48,067 68,803	31.3.21 £ 13,255 - 58
		13,313 347 5,078
		5,425 536
		30,157
		51,722

This page does not form part of the statutory financial statements

Page 17