Chartty reglstrotion number 1113327 THE (DAYALBAGH) RADHASOAMI SATSANG ASSOCIATION OF EUROPE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE (DAYALBAGH) RADHASOAMI SATSANG ASSOCIATION OF EUROPE LEGAL AND ADMINISTRATIVE INFORMATION Trustees Dr S Gautam Mrmohry DrA Srivastav Mr S K Kapoor Mr S Mitta (Appointed 26 Septetnber 20231 (Appointed 26 September 20231 (Appointed 26 September 20231 MfGRRam Mrs S Sing Charlty number 1113327 Independent examlner Plnnacle Accountan15 32 De Montfort Street Leicester Leiceslershiie United Kingdom LE1 7GD
THE (DAYALBAGH) RADHASOAMI SATSANG ASSOCIATION OF EUROPE CONTENTS Page Trustee5 report Independent exarnine¢6 report stalement of financial actrvllies Balance sheel Noles lo the financial statements 8-13
THE {DAYALBAGH) RADHASOAMI SATSANG ASSOCIATION OF EUROPE TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Iruslees present their annual report and financial ststements for the year ended 31 March 2024. The financial slatements have been prepared in accordance with the accounting policies set out in note 1 to fhe financial statements and comply wrth the charity's Igoverning documenll, Ihe Charities Aet 2011 and "Accounting and Reporting by ChaT11ies: 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 IFRS 1021" {effective 1 January 2019). Obje¢tives and activities lo advan¢ed the Radhasoami faith for the benefft of the public. to relieve needs arising as a result of financial hardships, sickness, old age or youth. advanced the Radhasoami faith for the benefil of the public and in particular by.. providing facilities for propogation of Radhasoami faith and lo disseminate ils teachings.. making arrangement for Ihe holding of satsang and celebrations of bhandaTas {congregalion81 feasts) throughout the area of operation of Ihe association. doing all such Ihlngs as may be conducive for the promotion of relvjious ideals and service to mankind amount the publlc at large, Public bèn8fi1 The trustees have paid due regard to guldance issued by the Charity Commission in deciding whal activities the charty should underfake. The chadty arranged Satsang (Holy Prayers) for ils follower5. Charity also provM#e cultural actsvltles for children, quiz programme and celebrations of special rellglous & cultural events.
THE (DAYALBAGH) RADHASOAMI SATSANG ASSOCIATION OF EUROPE TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢hievements and performince Signific8nt activities 8nLI achievemenls against objectives
THE (DAYALBAGH) RADHASOAMI SATSANG ASSOCIATION OF EUROPE TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Advanced the Radhasoami faith for the benèfit of the public and in particular by.. A new General Body was constituted for a term of 4 years effective 26.9.2023. A new Goveming Body was fomied with the term co-teminus wlth the tenure ofthe General Body. The revised budget for financial year 2023124 & proposed budget for 2024125 was Passed The Accounts for financial year ending ILQ12Q21 were Adopted The Annual Report of the Association for the year 2022-23 was Adopted Elecledlappointed office bearers of the Association for a term of 4 years commencing 26.09.2023 Appointed 3 mernbers to the Financial Advisory Commlttee for a 4-year term commencing 26.9.2023 Appointed 6 members lo the Regional A551Stance Committee for a 4-year term commencing 28.9.2023 Agreed lo convey Ihe Stokenchurch property and Ihe Bimiingham property by way of gift to 'The {Dayalbagh) Radhesoami Satsang Associatron of Europ8 Propgrty Hc>lding CIO Agreed lo transfer sixty-five thousand Great British Pounds lo the account of The {Day81bagh} Radhas08mi Satsang AssoGi81ion of Europe property holding CIO by way of charitable donation Agreed to open a Flxed Term Dep08it Account for 1 year with Metro Bank for funds upto £85.000 Adopted an agreement lo carry on activrties in cooperation and in coordSnation beeen DRSAE and DRSAE Property Holding CIO Zonal Satsang {Regional Meet) was held physical mode al Stoken¢hurch Satsang Ghar and in virtual mode for Hamburg & 8irfflingham Branches on 24th June, 2023 Primary Members of DRSAE were pemiitted ID offer Bhent Iconlributions) lo DRSAE'S statutory submission was made lo the Charity Commission on 18.01.2024 The maintenance spends took place al Birmingham Salsang Ghar on Electrical WOTk3, Gas Certificate. Fire alami servicè an¢J al Bensheim Satsang Ghar on Electrical inspection All Ihree Mahi18 Association's in the Region surxessfvlly conducted Elections for Office Bearer's for the new lem Commencing 01.01.2024. M2hila Association members Iwomen's Assoclatlon )of all Ihree Branches continued to exhibit vibranGy by continuously undertaking various aetivrties in multiple categories.. viz. Textile work - manufacturing varfous items of daily usage with different materials including fabric, wool, etc. Food productlon, folkswing Satwik cooking principles. ladies prepared snack items, masalas, elc. along with meals for seva volunteers on special occasions Ilke Basant I monthly Satsangs. Adult educatlon, conducting various classes, i.e. yoga. self4efence, knowledge sharing e.g. on H&alth. Food Hygiene, Homeopathic remedies, Computer Training, elc. Chlldren's education which include5 Path recitation, Sanskrit and Hindi learning Production of ¥ales items e.g. pra5ad potlis. crochet bags, coasters, woolen sweaters, bookmarks, tray covers Skill development ¢lag8es e.g. Gooklng, embroidery, knilllng, DIY projects with rewding theme, etc. Youth Association elections look place In both London and Birmingham Branches Whe office bearers were elected for the next term of 3 year5 Starting on 01.07.2023 Children partlclpated with great enthusiasm in the Children's Recreation Centre Annual Function with Headquarters. in Dayalbagh on 11.02 2024. Hamburg and London Branches organised mini-camps to leach & inculcate Satsang cultural values 8nd Dayalbagh Vway of Life lo Children. Sanl Su(peThuman) Evolutionary Scheme Children regularfy participated in self4efence PT & practiced meditation technique ol retiling 'Ra Dha Sva Aah Mi. at the Flve Omni Valenl Nerve Centres (Chakras}. Europe Region celebrated Education Day on Isl January 2024 with a cultural program At the Winter Session of the Dayalbagh Science of Consciousness 2024. the Ass180 submitted a 4,000-word manuscript and a Short 3-minute video pitch, showcasing the impact and outcome5 of activities related lo the Dayalbagh Model of Satsang, Seva and Value-based Quality Community Ptactices. The rnanus¢ript was subsequently presented at a Pre4onference on December 31, 2023. For improving Job placement. many Brothers I Sisters were provided with counselling, CV writing skills and irrterview practice Webinars were regularty held during the year on Job Opportunities e.g. 'Job Opportunities in Ph8rrnaty', 'Brand & Digital Marketing,, elc. An Open Day was held on 10th June, 2023 where 165 members from the local community attended at Stokenchurch Salsang Gher and learnt about DEI, Saisang Culture and Ra Dha Sva Aa Mi Faith. Birmin9harn Branch organized a Yoga event on International Yoga Day Ort 21.06.2023 which was attended by over 40 visitors from the local community. including the local Member of Parliament. On 23.07.2023, solne Birmingham Branch members had an opportunity to meet the British Prime Minister, Right Honourable Mr. Rishi Sunak MP, at a community evenl in Birmingham and shared news about Ihe Intemational Yoga Day celebration.
THE (DAYALBAGH) RADHASOAMI SATSANG ASSOCIATION OF EUROPE TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Flnanclal rèview Reserves policy 11 is the policy of the chaty that unr88tricted funds which havè not been designated for a speclfic us8 should be maintained at a level equlvalent lo between three and six month's expenditure. The trustees consider Ihat reserves at this level will ensure that. in the event of 8 significant drop in funding, they will be able to continue the charity's current actlvilies while ¢onsideralion is given to ways in which add5tional fvnds may be raised. Thls level of resérves has been maintained throughout the year. Stru¢turn, govomance and management The charty is conlrolled by its goveTnlng document. a deed of trust and conslilutes an unincorporated charty. The trustees who ser¥ed during the year and up to the date of signature of the finanaal stalements were.. Dr S Gaulam Mrmohry DrA Srivastav Mr S K Kapoor Mr S Mitta MrG RRam Mrs.S Sin9h IAppoSnted 26 September 2023} {Appointed 26 September 2023} (Appointed 26 September 20231 Recruitment 8nd appnIfflent oftnislees 0ry8nisational structure The trustees report was approved by tha Board of Truslees. Mr S K Kapoor Iru5teg 16 J8nuary 2025
THE {DAYALBAGH) RADHASOAMI SATSANG ASSOCIATION OF EUROPE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE (DAYALBAGH) RADHASOAMI SATSANG ASSOCIATION OF EUROPE I report lo Ihe trustees on my examination of the financial statements of The {Dayalb89hl Radhasoami Sat$ang Associatlon of Europe (the charity) for the year ended 31 March 2024. Respon8lbllltle8 and ba$ls of report As the truste85 of the charity you are responsible for the preparation of the flnanual slatements in accofdance wilh the quirementS of Ihe Charities Act 2011 (the 2011 Acti. I report in respect of my examination of the charity's financial slalemenls carried out under section 145 of the 2011 Acl. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examine¢8 8talement Your attention is ttrawn to the fact that the charty has prepared financial statements in accordance with A¢counting and Reporting by Charities preparing their accounts in accordance with the Firtrancial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Sialemenl of Recommended gjractice issued on 1 April 2005 which is referred to in the exianl regulations bul has now been wlthdrawn. l undeTsland that Ihi&has been done wi order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounllng Practlce effective for reporting periods beginning on or after l January 2015. I have completed my examination. l o)nfirm that no matters have come to my attention in connection wÈth the examination giving me cause to believe thal in any material respect.. accounting record$ were not kept in respect of the char¢y as requlred by section 130 of the 2011 Acl.. or the financial slalements do not accord wlh those reGords-, or the financial statemenls do not comply with the applicable requirements conceming the fomi and contenl ol accounts set out in the Charities (Accounls and Reports) Regulats"ons 2008 othei than any requlrement that the accounls 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 acro$s no olhtrr matters in connection wth the examination to which attention should be drawn in this report in order lo enable a proper understanding of Ihe financial 51atements to be rèached. A4voJP I<Nd Pinnacle Accountants 32 De Monttort Street Leicesler Leicestershire LE17GD United Kingdom Dated.. 16 January 2025
THE (DAYALBAGH) RADHASOAMI SATSANG ASSOCIATION OF EUROPE STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 UnTe3tricted Unrestrlcted funds funds 2024 2023 Notes Income from: Donations and legacies Investrnents 85.084 770 288,522 242 Total Incoffle 85,854 288.764 Expendituro on: Charitable activities other expendilur8 883,422 (504) 39,160 57 io Totsl expendlture 882.918 39.217 Net In¢omellexpendlture) and movemènt In funds 1797,064) 249,547 Reconcillatlon of funds: Fund balances at 1 April 2023 1,413,544 1,163,997 Fund balances at 31 March 2024 616.480 1,413,544 The statement of financial activitles includes all gains and losses recognised In the year. All income and expendilure derr¥e from ¢onts'nuing activith%s.
THE (DAYALBAGH) RADHASOAMI SATSANG ASSOCIATION OF EUROPE BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Flxed assets Tangible assets 12 471,123 1.258,123 Current assets Cash at bank and in hand 145,357 155,421 Net euffent as8et8 145,357 155,421 Total assets 1oS8 current Ilabllltles 818,480 1.413,544 Net 4888ts excludlng penslon liablllty 616.480 1,413.544 Tha fund8 of tho charlty Unrestricted funds 616.480 1,413.544 616,480 1,413.544 The financial statemenls were approved by the trustees on 16 January 2025 Mr S"K Kapoor trustee
THE {DAYALBAGH) RADHASOAMI SATSANG ASSOCIATION OF EUROPE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles Charity infomiatlon The {Dayalbagh) Radhasoami Satsang Associalion of Europe Is a INSERT CONSTITUTIONAL DETAIL. 1.1 Accounting conventlon The financial statements have been prepared In accordance wtth the chaflty's Igovernlng documenti, the Charit*es Act 2011, FRS 102 Yhe Financial Reporting Slandard applicabte in the UK and Republic of Ireland. I'FRS 102.} and the Chartties SORP "Accounting an(J R8POrting by Charities.. Slatement ol Recommended Practice applicable to tharilies preparing their acttnunts in accordance with Ihe Financlal Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 102)" leffeclive 1 January 2019). The charity Is a Public Beneflt Entity as defined by FRS 102. The charity has taken advantsge of the provlsions in the SORP for charities not to prepare a Statement ol Cash Flows. The financlal statements have departed from the Charities {AGcounts and Reports) Regulations 2008 onFy to the extent requiied to provide a Irue and fair view. This departure has involved following the Slatement of Recommended Practlce for charities apptying FRS 102 rather than the version of the Slaiemenl of Recommend8d.Practice whlch is referred to in the Regulations but which has since been withdiawn. The financial stalements are prepared In 5terting, which is the functional cuirency ol the ch8fTrty. Monetsry amount5 in these financial statements are rounded to the nearest £. The finanoal statements have been prepared under the historical cost convention. The principal accounting poliues adopted are set out below. 1.2 Golng concem At lh8 time of approving the finandal statements, the trustees have a reasonab18 expectalion Ih8t the chadty has adequate resources lo continue in opefational existence for the foreseeable future. Thus the tru51ees continue to adopt the going concem basis of accounlng in preparing the financi818latements. 1.3 Charltable fund8 Unrestrictel funds are avallable for use al the discretlon of the trustees in furtherance of their charitable objedives. Restricted funds are subject to speclfi¢ condltSons by donors or grantors as to how they may be used. The purposes and uses of ihe restricted funds are sel out fft the notes lo the financlal slalements. Endowmenl funds are subject lo spectfic conditions by donors that the capital must be maintained by the chadty. 1.4 Income Income 18 recognised when the charity Is legally enllued lo It aft8r any performance conditions have been met, the amounts can be measured lIably, and it is probable th81 income will be receivèd. Cash donations are recogntsed on receipt. other donations are recognised once the charlty has been notlfled of th8 donatlon. unles5 performance conditions require deferral of the amount. Income lax e0Verable in relation to donallons received under Glft Aid or deeds of covenant Is recognised al the time of the donation. Legacies are r8co9nised on receipt or otherwise if the charity hag been notified of an impendlng dFslribullon, Ihe amount 18 known, and receipt is expected. If Ihe amount is not knrjwn, the legacy Is treated as conlingenl asset.
THE (DAYALBAGH) RADHASOAMI SATSANG ASSOCIATION OF EUROPE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policleg (Conllnuedl 1.5 Expendltur¢ Expendlture Is recognised once there is a legal or constructive obligation to transfer economiG benefit to a third party. it is probable that s transfer of economic benefits will be required in settlement, and thè amount Df the obligation can b8 measured rellably. Expenditure is classified by activity. The cosls of each activity are made up of the total of dIrt costs and shared costs, iftcluding support cosls invofved in undertaking each activity. Direct costs attribulae to 8 single actwity are allocated directly lo that activity. Shared costs which contribute lo more than one activty and support costs which are not attributable to 8 single activity are apportloned behveen those actlvlties on a basis Gonsislent wlh the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocaled on Ihe portion of the a55eVs use. 1.6 Tanglble flxed assets Tangible fixed assets are initialty measured at cost and subsequenlty measured at cosl OT valuation, net of depreciatlon and any impaimient losses. Depreciation 1$ recognised so as to wrste off the cost or valualion of assets less their residLFal values over their useful lives on khe following bases.. Freehold land and btjildings depreclated The yain or loss arising on the disposal of an asset Is detemined as the difference between the sale proceeds and the carrying value Df the asset, and is re¢ognised in the statement of financial activitres. 1.7 Impalment of Ilxed assets Al each reportin9 end dale, the charity reviews the carrying amounts of ils tangible assets lo detemiine whether there Is any indication that Ihose assets have suffered an impairrnenl loss. If any such indtstion exists. the iecoverable amounl of the asset is eslimaled in order to determine the extenl of the impairment loss {rf any). 1.8 Cash and cash equlvalents Cash and cash equivalents indude Cash In hand, deposits held at call with banks, other ShorterM liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts ar8 shown within boirowings in current liabilities. Basic finanelal assets Basic financial assets. which include debtors and cash and bank balances, are inf(ially measured at transaction price including Iransaction costs and ar6 subsequenuy Garrfi8d at amortised cosl using the effective interest method unless the arrangement constitute5 4 financing transaction, where the transaction is measured at the present value of the future receipts discounted al a market rate of illterest. Financial assets Classified as re1vable within one year are not amortised. Basic finJn¢ial liabllities Basic financial liabilities, including creditors and bank loans are inllially re¢ogn18ed al transaction price unle5$ the arrangement conslllules a financlng transaction, where the debt instrument is measured at the present value of the futu payments di5counteé at a market rate of interest. Flnancial liabilities dasslfied as payable within one year are not amortised. Debt instNmenls are subsequently carried 81 amortised cost, using the effective interest rate method. Trade crtsditors are obligations to pay for good5 Qr seNices that have been acquired in the ordinary course ol operations from suppliers. Amounts payable are cla5s(fied as ctsrrent liabilities rf payrnent 1$ due wtthin one year or less. If not, they are presented a5 non-currenl liabilities. Trade creditors are recogni3ed initially at transaction price and subsequently measured at amortised cost using the effeclNe interest method.
THE (DAYALBAGH) RADHASOAMI SATSANG ASSOCIATION OF EUROPE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢Gountlng pollcigs Icontlnuedl Dere¢ognltion of financlal liabillties Financial liabilities a derecognlsed when the charity's contrartual obllgations 8xpire or a disch8r9ed or cancelled. 1.9 Employoe beneflt8 The ¢osl of any unuse¢J holiday entitlement is recogni8ed in the p8rlod In which the employee's servicès are re¢eived. Termlnation beneffts are recognised Immediatety as an expense when the charity 1$ demonstrabty comrnltted to teminale ihe employment of an employee Of to wovlde terminatlon benefits. crttl¢al accounllng estlmatè8 and ludgements In the application of Ihe charity's accounling polici8s, the trustees ar8 required to make judgements, estirnates and a$sumplions about the carrylng amount of assets and liabile$ Ihat are not readlly app8t from other sources. The estimates and associated assumptlons are based on historical experience and other factors that are considered to be relevant. Aciual results may differ from these estimates. The estimates and undertying aSSump0n5 are VEwed on an ongoing basis. Revisions to a¢xounting estimates are recognlsed in the perlod in whK* the eslimate is revised vthere the revision affeets that period, or in the period of the revision and future periods where the revislon affects bolh current and future period5. Income from donatlons and legaclès Unre8trlcted Unrestricted funds funds 2024 2023 Donations and gifts 85,084 288,522 Donatlons and gift8 Giftaid don81ions Non grfi aid donations Conversion of inlerèst free loan Other 56.030 21,472 211.020 85,084 85,084 288,522 Income from Inve8tmènt8 Unrestrlcted Unrestrlcted fund8 fundg 2024 2023 Interest CeiVable 770 242 10-
THE (DAYALBAGH) RADHASOAMI SATSANG ASSOCIATION OF EUROPE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expendlture on charftsble a¢tivitles Unrestrl¢ted Unrestrlcfed funds funds 2024 2023 Direct costs E Satsang expendilure - plus nel E Satsang expendllure - Capex Expenses on 8h8ndafa. Basanl and Holi Expenditure on celebrationslPropogalion Garland and parsad Donatlons made 890 -871 302 1.175 358 75,000 2,529 487 1,333 855.906 860,461 f8,596 Share of support and governance costs (see note 61 Support 22.961 20,564 883,422 39,160 Analysls by tund Unrèslricted funds 883,422 39,160 Support costs allocated to actfvilles 2024 2023 Rates and waier Insurance Heat and Ilghl Telephone Postage and slallonery RepaiT$ and maintenance IT expenses Sundry Governance costs 1.379 2.929 2,993 1,740 864 2,598 4,850 347 219 3,724 5,183 296 5.184 3,257 1,151 6.811 22,961 20,564 Analysed between: Unrestricted funds 22,961 20,564 Net movement In funds 2024 2023 The nel movement in funds Is staled after chargingllcdlting)'. 11
THE (DAYALBAGH) RADHASOAMI SATSANG ASSOCIATION OF EUROPE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Trustees None of the ITuste8s lor any persons connert8d wlth them) received any remuneration or benefits from the charity during the year. Employeos The average monthly number of employee8 during the year was.. 2024 Number 2023 Number Total There were no employees whose annual remuneration was more than £60,000. Remuneration of key management personnel The remunerallon of key management personnel was as follows: 10 Other expenditurn Unrestrlcted Unrestrlcted funds funds 2024 2023 Financing costs (504) 57 11 Taxation The charity Is exempt from taxation on its actlvlties because all Its Income 1$ applled for charitable purposes. 12 Tanglblè fixed a$8et8 FrhOld land
nd bulldln9
Cost Al l April 2023 Disposals 1.258,123 1787,000) At 31 March 2024 471,123 Carrylng amount At 31 Mafch 2024 471,123 At 31 March 2023 1,258,123 12.
THE (DAYALBAGH) RADHASOAMI SATSANG ASSOCIATION OF EUROPE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are- not subjecl to specific conditions by donors and grantors as lo how they may be used. These include designated funds which have been sat aside out of unrestricted funds by the trustees for speofic purposes. At 1 April 2023 Incoming Resource8 At 31 March resources expended 2024 General funds 1,413,544 85,854 1882,9181 616,480 pVIouS year: At l Aprll 2022 Incoming resources ResourGe¥ At 31 March expended 2023 General funds 1,163.997 288,764 139,2171 1,413.544 14 Related party Iran$actlon8 There were no dlsclosable related party transactions during the year12023 - none). 13-