**REGISTERED CHARITY NUMBER: 1111503** ## **REPORT OF THE TRUSTEES AND** **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **FOR** **HINDU WELFARE ASSOCIATION OF ESSEX** **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: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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