READING HINDU CENTRE (Registered Charity Number. l 115850) Apulot READING HINDU TEMPLE 112, Whitley Street. Reading RG2 OEQ Web address: www.readinghindutemple.com Tel: 0118 9751067 rt from the Chairman of the Executive Committee EC Dear memberls and deyotees, Over the I￿¢ two decades, our Temple has gone from strength ￿ strength due to the dedicated efforts of the b.C, and with overwhelming support and participation of devotees and members it has bLYn transformed into a centre plaL'e for Hindu wmmunity that fulfils its rcligiou& cultural, social #nd communal needs. Ai our Temple. we celebrnte importanl Hindu Festivals. Ple&8e find below the 1181 of the key festivals to be celebrated from August- December 2024 Montb Festival Irmjian Ind¢p¢nd¢nce Day D*te Is 26 06 07 15 17 18 02 03 Day Thursday MondJy Fridtty saturday Sunday I'uesday wedne.￿daY W¢dnc5day 'I"hu]xlay rTid8y Saiurday Sunday rriday Saturday AUGUST Ilaritalika Ganesh Mohoisav Begins- Ganesh Murti stha[￿na Sahastravartan- Athrv&shiT5h P&th Anant Ch*urd&shi- Ganesh Murti Visari8n sI￿addha Paksha be8Lns Shraddha Paksha Fmds Ashwin Navrniri iYgins- Ghatsthapana Navrntri Garb0 Navratri G8rba Navrntri s￿¢1￿1 Kirtan Dur8ashtami- Havan and Mats Ki Chowki Ashwin Navratri ¢Dds- Navmi & Dasara KAtwa Cha￿h Diwali - Laxmi Pujan Diw8li- BalipTatipada & Govardhan Pujan Vikram S8nvai iKgins Bhaiduj Shri Jalaram Jayanu Shri Dattatreya Joyanti SEPTEMBER 05 12 20 01 OCTOBER Friday 02 03 Saturday Sunduj Friday Satwday NOVEMBER DECEMBER 14 Along with the above dates, our day to day calendar also includes: Special Tuesday ¢v¢nin8 service between 6..30 and 7..45 pm Monthly Kirtan - on the preannounced s4￿rdaY between 6:30 and 7:45 pm Jaluram Bapa Bhajans - i&st lThursday of the month bctwccn 6..30 and 7:20 pm lknese festivals & sats8ng se&sions give membeTS and devotees a noble opportunlty to offer Seva by: becoming Yajman for the Puja and Aatati offering ffftnancial contribution towards Prasad and frnii Ix)xes offering help for cooking fo(xl. setttng up of dining hall. clcaning of kitchen and dining area Pleose come orw4rdto serve the noble cqxse- EVAVK4T IVh& Financial updates The Executive Committee (EC) always maintains a certain level of cash reserves in the bank, whilst making conscious effort for fulfilling day to da). short and medium tenn financial Commitments. Following ore the highlights of the Reading Hindu Centre (RHC)'s financial position for 2023: Gr05s income itLcrcawl by 30.3 % to £135.677 (in 2022. £103.567) Expenditur¢ r¢du¢cd to £69.357 (in 2022. £73,942) - the large part of expenditurc is related ¢0 the stalTcost& property maintenance and utility bills Surplus increased to £66,357 (in 2022. £29,625) C￿h ai bank and in hand increased to £167,556 {in 2022. £141,360) £8867 Gift aid claimcd from HbARC No bank bo￿Ow1np wholeheartedly wish to Ihank all the donors for extending their kind generosity towards our beautiful Temple...keep your parlnership with this noble cause, and spread ihe mes5a8e acrossl I Property Management and mainten*net Our Lharity building is morc than 120 y¢8TS old and maintainin8 It to the standards of 21 cen￿ry is an ongoing t&5k. Following are th¢ updates: Professional cleaning of the kitchen and the extractor system was completed Required modifications to the gas supply line to the kitchen cooker and low bumers were completed, to comply with the latest gas safety regulations We are continuing with our annual service / maintenance contracts for the lift, fire systems. emergency lighting and pest control. To continue with our efforts to reduce the running costs of the Temple, in June 2024, the gas supply provider was changed from United Gas and Power to Scottish Power, and the electricity supply contract was renewed with Scottish Power. These new contracts are expected to reduce our ener8y usage cost by approximately 20 % Our three l)oilers and associated systems are now more than 10 years old and are in need for regular maintenance including changing of worn-out parts. The work completed during th¢ period has included replacement of a PCB board on two Ix)ilers and repairs to the expansion tank on the third boiler. Maintenance priorities for the coming year include continuing with boilers repairs, repairs to the rising damp on the main hall wall (road side). continuing with the replacement of lights with LED bulbs and implementation of other energy saving schemes. Priest matter5 Our attempt of appointing a new priest from India has been Unsuccess￿1. The Home Office frustratingly t(yok 9 months to take the decision on our Tier 5 application. Following from this uncertainty, Executive Committee is currently exploring a possibility of appointin8 a suitably qualified local candidate who can serve our Temple under Tier 2 category as a Minister of Religion. Under this category, the maximum period of appotntment would be for 3 years. In the meantime, Shriman Kapil Dev Upadhyay Ji will continue to serve our Tetnple. Long terni strategic plan - relocation of th¢ Temple In the reports ol the AGM 2022, EGM 2023 and AGM 2023, 1 put forward to you a case for relocation based on key issues such as age of the building and parking restriction. However, I have also infomied you that we need to raise substantial fimds probably ID millions before we endeavor such a challenge. Followin aretheu ates: At the end of 2023. a fund raising appeal for the relocation project has been launched for raising 1.5 m through 1500 pledges of £1 000 each. More than 40 pledges have been received through this campaign so far. A separate bank account has been opened for the pledges. Hence the funds generatrd are reserved separdtely - not used for the day to day nllming of our Temple. EC have also engaged with Savills estate agents to explore possibilities of redevelopment of our current premises. EC is actively looking at sites and have reviewed three sites up till now - If a child goes into a sweet shop and wants oll the sweets going, lThever, if child doesn't have eI￿lIgh money, then child would leave disappointed wit}￿ut any sweets. Currently, our relocation project is in this position. Though more than 40 pledges is a decent start, in order to bid for the right site, it is clear that far more pledges are required and they should come at a f&ster rate. For this purpose, we have proposed to put up new donation board that will acknowledge all the pledges and will be tsken to the new premises for its place in a prime position. So please come forward. and spread the message a¢r￿8s...YOU can either donate a lump sum of £IOOO or even set up a monthly standing order to donate in instalments, for example £100 over l O months or £50 over 20 months otherwise any amount that suits you. Your donations will sland as an inspiration for others to become partners in this vision... The EC is also aware of the fact that in our community there is expertise available to take this vision forward. and hence seek your support on this subject. Please contact any of tlie EC members or email on: contsct adin indutem le.com Publicity and remote access EC always make live transmissions of key events at the Temple on the Facebook EC also routinely make announcement of the events on the Facebook and WhatsApp Serving for tbe Temple and working in the Executive Committee (EC) As mentioned at the start. al our Temple. we celebrate all major festivals, weekly Tuesday evening services and once in a month services which amounts to an engagement of l in 3 days in a year. These days are certainly busy periods and involve many tasks. Many members of the current EC are serving our Temple for more than 20 years. and are in the age group of 60 to 75. The Executive Committee strongly feels that new members should cxplorc the possibility of joining the committee to develop and retain our religious and cultural heritage. You will work as a part of a team whose primary aim is to serve our Temple, and offer the best POS5ible services to our community in a disciplined manner. Undoubtedly, you will also develop valuable skills in managing a vibrant Community or8ani5ation. Please note that a new joiner should be a paid member of the charity - Reading Hindu Centre - for at least a year before you are eligible to be elecled to the EC and we ask you to Commit average two hour5 of your time per week. More information, ple&se contact.. ashokmansevak9 mail.com and vi .mis hotmail.com ..more hands make light work! And fiDally* On behalf of the EC, I wish to express my deepest sense of gratitude to all those individuals who have directly or indirectly worked for the development of our charity. I strongly believe that it is you, the members and the devotees are keeping this charity on the continuing path of growth and progress. So keep spreading the word about the good work being carried at our Temple. donate generously, and offer help in person to support our Temple. I would like to assure you that your advice and help in any respect is of great value to the EC. If you have certain expertise. which you feel you can offer for the benefits of the charity, then please feel free to Communicate your ideas with the EC. If you have any queries relating to matter of the charity, then I request you to contact any of the EC members. This will ensure that you receive a￿Urate infonnation. rather than relying upon unauthorised third-party source. Thank you very much for your continuing support and encouragement... Stay safe. stay blessed! Yours truly, (Dr Ashok Sadashiv Khar¢) Chairperson of the Executive Committee CHARITY REGISTRATION NUMBER: 1115850 The Reading Hindu Centre Unaudited Financial Statements 31 December 2023 H B MISTRY & CO Chartered a¢¢ountsnts Tudor House Mill Lane Calcot. Reading Berks RG317RS The Reading Hindu Centre Financial Statements Year ended 31 December 2023 Page Trustees, annual report Independent examinerfs report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements The followlng pages do not form part of the financlal statements Detailed statement of financial activities 16 Notes to the detailed statement of financial actNities 17 The Reading Hindu Centre Trustees, Annual Report Year ended 31 December 2023 The trustees present their report and the unaudrted finan¢K41 statements of th8 charity for the year ended 31 December 2023. Refer¢n¢e and admlnl$trative detslls Reglstered charity name The Reading Hindu Centre Charty rngistration number 1115850 Prlnclpal offlce 112 Whit16y Streot Reading RG2 OEQ Th• tru8t808 Dr A Khare Mr 8 Sankhk8 Mrv Mistry Mr G Bhatti The trustees DrA$hok Khare Mr Vijay Mislry Mr Bhupendra Sankhla Mr Sunil Mehan Mr Govind Bhatti Mr Dhiraj Gehlot Mr Rakhee Mislry Mr Shashi K Mawkin Mr Laxman Chouhan Mr Jagannath Sapkots Mr Ariun Singh Mr Vikas Shrivastava Mr Srikrishnan Srifam Chairman V￿e Chaiman Secretary Joint secretary Treasurer Joint treasurer Event C¢)vordinator and pUbl￿ty Property Manager Religious Vidhi cwdinator Ctropled member Cctropled member Ctropled member E￿ed memt*r {Appointed on 24th August 20231 {Appoinled on 24th August 20231 ITemi ended on 9th July 20231 IRespJned on 9th July 20231 Indgpendent gxamlner Harish Mislry FCA F￿A Chartered accountant Structure. govemance and management The charty is organised under a conslilulion approved on 5 August 2C￿￿. The charity is managed. on behaff of the members, by an ExecutNe Committee. A third of the Executive Committee is elected annually al the annual general meeting held in summer. The Executive Cornrnittee mernbers during the year are detailed on page 1 of these financial stalemenls. All of the members prowded their serwces free of charge. No mw)ber had a material interest in any contract of signrfican¢e to which the Charity was a party during the year. The ExecutEve Committee has assessed the major risks to which the Charity is expo￿￿, and 15 satisfied IW systems are in pL%e to miligate exposure to the major risks. The Reading Hindu Centre Trustees. Annual Report (¢OMinwd) Year ended 31 December 2023 Ob}ectiVos and actlvities The obj8cls of the Charity are by such means as are charitsbie lo promote the Hindu relig￿n, to provide a place of v￿rShiP for followe￿ of the Hindu religion and lo promote and encouwa the values of the Hindu failh for Ihe benefi( of the public al large. The Charity shall be politically non4ligned. The chafty ￿kS wlh. and period￿allY receNes Teqvests for support from other charrties and organisations wrth similar objectives. The mertts of each case afe considered by the Executive Commrttee. Frcxn lime lo lime they agree to 5UPPOrt. by way of a modest grant. where such is percewed lo be of mutual benefrt lo both parties. We have referred to the guidance contained in the Charity CommissK)n'8 general guidance on publ benefit when reviewing our aims and objectives and in planning cmjr future activitiès. Achl8vements and ￿rfOrmanc0 The Reading Hindu Centre PfQVKles a focal poirf for activitigs which promotes hamiony btheen various communilios in Reading. The Cent￿ houses 8 be8Utrful temple which is open to all and all religious aclivilies are successfully held at the centre. The centre encourages use of rt$ facilrties for actNities wh￿h promote spiriiualty and hoolthy living. The Trustees are pleased to report that the activities are well supported through increased attendance. This is reflected in an incre8se in donations, money box collecb'ons and hall hire income. The Gross Income of the charity increasèd by 30.3% 10 £13S,67712022 £103,S671. The Iruslees also report all bank borrowngs *ere repaid during the ye8r, thereby saving in interest Costs, Flnanclal revlew The detailed financial posit￿n of the charily is shown in the finoncHI statements attached, The charity received gross income of £135,677 (2022 £103.5671 an¢J eynditure amounted lo £69,357 12022 £73,942), leaving a surplus of £66,357 12022 £29,62SI. A large part of the expendrture related lo staff C￿1$, property maintenance and utilty bills. The charrty repaid in entirety its outstsnding 108n to the bank. The charity is pleased to report, rt had no bank borrowngs al the year gnd. The intgr8St paid on the bonk 108n reduced to £676 12022 £2,261} Reserves Pollcy 11 is the policy of the Charity that Un￿stricted funds which have not been designated for a specrfic use should be maintained al a level equrvalent to between six and nine month's expenditure. The Ex￿ul￿e C￿nmit[e8 c¢)nsider th* reserves at Ihk8 level will onsure thal, in Ihe event of a SvJnffj￿a￿t drop in funding, they will be able to continue the Charitls current actNlties while consideration is given to ways in which addrtional fund5 may be raised. This level of reserves has been maintsined throughout the year. Reserves are also required lo fur￿ any unexpected repairs lo the buikling on which the charity relies on its activitps. The Reading Hindu Centre Trustees. Annual Report (cotrtknu¢dJ Year ended 31 December 2023 Flnancial rgview (conthuod) Rlsk management The charty 15 dependent on donations and along wrth the gift aid r( has enabled the charty to undertake irnprovements and repairs lo the centre. The Ex￿Ut￿￿e committee is confident that the support and gcy)dwill of the members and public generally, will enable the Charity to meet ongoing rinancial cc4mmthments. The EXeC￿1ve Commrttee m8nages the ¢entre'$ risk by ￿ular reviebvs of hea￿h and safety procedures, fi￿ protection prcwlures and ensuring adequate Insuran￿ ore in place for the centre. Plans for future periods The centre will continue with ts daily religious programmè wh￿h are well published on r(s websfÉe. The cenlrè renovation work will continue subject to r￿elp1 of donations aThl availabilty of fund$. Tomple premlsos and futurn plans The Iruslees are actNely Icoking for an aAemative temple premises with adequate parking facilities. This entails a huge inve$lmenl and requires the wholehearted support of the community to donate and p￿dge monies lo this cause. The tnJstee8 will continue lo ¢)rganise cuttural perfomiances and other fund raising tsvents until the objective of a new temple premises is realised. The trustees have already embarked on a process of maximising the value of exists.ng temple premises through cOnsU￿allOnS with advisors. The Iruslees, onnual report was approved on 4 Juty 2024 8rKI signed on behalf of Ihe board of Iru8tee8 by.. Dr Asho Chairman SgJa8hive Khare Mr Govind Bhatti Treasurer The Reading Hlndu Centre Independent Examiner's Report to the Trustees of The Reading Hindu Centre Year ended 31 December 2023 I report lo the trustees on my examination of the financial statements of The Reading Hindu Centre Ilhe charity,) for the year ended 31 December 2023. Responslbllltles and basls of report As the trustees of the charity you are responsible for the preparation of th• financial statements in accordance with the requirements of the Charities Act 2011 {Ihe Act'l. I report in respgct of my examinatK)n of the chart￿5 financial statements egrrEd out under section 145 of tho 2011 Act an¢J in carrying OLrt my 8xaminatM)n I have followfyj all the applicable Directions given by th8 Charity Commission under section 145151{b) of the Act. Indopendent examlnorfs slat•mwt I have completed my examin8tKJn. I confimi that no material mattws have come to my attention in connection wrth the 8xaminalK*n giving me cause to beI￿ve that in any matèrial rg$pect.' accounting records were not kept in respect of the charity 88 required by 88Ctk)n 130 of tho Aet., or the financial 8latement$ do not accord wrth those records,. the financial slalemenls do nol comply wrth the applicable requirements conceming the fomi and conlenl of xcounts set oui in the Chanties IAcccMJnls and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf viéw whieh is not matter cons￿eTed as part of an independent examination. I have no concems and have ccme across M other matters in connect￿n ￿th the examination to which attention 8houkl be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Harish Mi81ry FCA FFTA Chartered accountant Independent Examiner HBMi$lry&Co Tudor House Mill Lane Calcol Reading Berks RG317RS Dated 14 August 2024 The Reading Hindu Centre Notes to the Financial Statements Year ended 31 December 2023 Genero1 inft>rrnation The charity is a public benefrt entity and a ￿gIste￿ charrty in England and Wales and is unincorporated. The athjress of the principal office ￿ 112 Whitley Street. Reading. Berks, RG2 OEQ. Statement of compliance These financial statements have been prepared in complianc8 with FRS 102, The Financial Reporting Standard applicable in the UK and the Republ￿ of Ireland,. the Statement of Recommended Practice applicable to charities preparing their a￿￿ntS in a¢¢ordance wrth the Financial Reporting Stsndard applicable in the UK and Republic of IreLand IFRS 1021 (Charitie8 SORP IFRS 10211 and the Charities Act 2011. Accounting policles easis of prnparation The financial statwnents have been prepared cfi the hi8tOfical cost basis. 88 mtsjified by the revaluation of certain financial assgls and liabilities and investment prcs)ertiès measur8d at falr value through income or expendf(ure. The financial statements are prepared in sterling. which is Ihe functional currency of the enlily. Golng con¢•m There ore no material uncertainties about Ihe charty's abilty lo contin￿. Dlxlo8ur• 8x•mptlon• Under the 8mall entity provisions within S1A of FRS 102, the charity claim5 exemption from preparing a cash flow statement. Judgements and key Sources of e8tlmatlon uneertalnty The preparation of the financial statements requires management to make judgements. eslimales and assumptions that affect the amounts rekxirted. These estimates and judgement8 are continually reviewed and afe based on experience and other factors, including expectations of future events that are believed to be reasonab￿ under the circumstanc88. Fund accountlng Fund accountlng Unrestricted funds are 8V8i5able for use at the discret￿n of the trustees in furtherance of the purposes of tho ¢hoTty. Unreslrithd funds include a revaluation reserve representing the restalemenl of Freehold property al market value. Restricted funds are subjected lo restrictions on their expendrture imposed by the d(M)or. The Reading Hindu Centre Notes to the Financial Ststements (conl•iued) Year ended 31 December 2023 Accounting policies (C￿1*￿￿ Incomlng rnsources Income All income is included in the Statement of financial aclivities when the charily is entitled lo the income, any performance related condilK)ns attached have been met or are fully within the conlrol of the charity. the income is considered probable ar￿ the amount can be quantified with reasonable accur8cy. The followng specrfic policies are applied lo particular categories of Ineome.. Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activrties when receivable. Investment in￿rne 1$ included when re¢eivable. Income fTcm grants, where related lo perfomiance and specffic d81iverabl8s, ar8 accounted for as the charTty eams the right to eonsideration by its perfomance. Rosource8 gxpgnded Exrenditure is recc#3ni8ed on an accruals basis as a Ik8bilty is ineurred. Expendtture includes any VAT which cannot be fulty recovered, and 1$ ¢5ossrfied under headings of the Stslement of finaneial activities to whi¢h rt ￿l•le$.. èxpenditure on raising funds inclLtd6s the costs of all fund¢a¢8ing actNiiies. events, nOn-eh8rrtab￿ trading activities, and the sale of donated goods. expendlture on Charitab￿ actNrti88 include8 all costs incurred by a charity in undertaking aclivi(ies that further its charitable ains for the benefit of ils beneficiaries, including those support costs and cthls relating to thè governan￿ of tha charity apportiongj lo charrtablo acltvilies. other expenditure includ68 all gxpenditurg that io neither rel*ed to rai8ing fvndB for the chanty nor part of its eX￿nditure on charitable aGtNitig5. All ¢ost$ are o111)G*ed lo expenditure categories refbcting the use of the resource. Direct costs 8ttribulable to a singl8 activity are alkKated direcily to that aclivily. Shared costs are apportiongd between the activft￿s they contribute to on a ￿aSOnable, iuslrfiable and consistent basis. Tanglble a88•ts All fixed assels are inrtially recorded al cost. Tangible fixed asset8 Other than freehold land are staled at cost or valuation ￿83 depreciation. Fr8•hold Prop8rty 2% on mst. No depreciation is prowded in respecl of freehold land. No depreciat￿n is provided on thg freehold buiklings as in the opinion of the ExecutNe Committee the residual value of the building will not be less than deemed cost of the building as the building is maintained lo such a high $landard. Depreclatlon DepreCiat￿n is cakuL4led 80 as to write off the cost or valuation of an asset. less ts ie$idu81 V81ue. over the useful economic Irfe of that asset as follows.. Equipment 33% straight line The Reading Hindu Centre Notes to the Financial Statements (wilin￿) Year ended 31 December 2023 Accounting policles (¢OrfMiued) Impairnent of fixgd assets A review for indicators of impaimient 1$ carried out at exh reP￿tIng date, wrth the recoverable amount being eslimaled where such ind￿alOr$ exisl. Where the caTrying value exceeds the recoverable amount, Ihg asset is impaired accordingly. Prior impaimenls are also reviewed for possible reversal at each repo￿.n9 dale. For the purposes of impai￿ent testing, when it is not p)ssible to estimate the recoverable amount of an irKINidual asset, an oslimate is made of the recoverable amount of the cash-generaling unrt to wh￿h the asset belongs. The cash-98neraling untt is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely Independent of the cash intlows from other assets or groups of assets. Flnancl•l Instruments A financial asset or a financial liabilty is recognised only whèn the éntity becomes a party to the contractual provisions of the instrument. Bas￿ financial instrumen15 are initially re¢ogni$&d al the amount reeeivable ¢y payab￿ Including any related transaction costs. unless the arrangement conslbtutes a financing transxlion, where rt is recognised at the present value of the future payments dis¢ounted al a market Tate of interest for a similar debt instrument. Current assets and current liabilities are subsequently Measu￿ at the cash or othèr con8Kleration expected to be paKI or r&eived and not discounted. Debt in8lrumenls are sub8equently measured at amorttsed cost. Financial assets that are measured at eost or am¢)rtlsed cost am review8d for objeclrve evidence of impairment al the end of each reporting dale. If there is objective evidencé of irnpaimanl, an impairment loss is recognised under the approPr￿te heading in the slalement of financial activf(ies in which the initial gain was recognised. For all equity instrument¥ regar(11￿ of synffKance, and other financial assets that are individually significant, these arg assessed indNidually for impaimient. Other financial oysets are erther assessed individually or grouped on the basis of similar credrt risk characteristics. Any reversals of impairment a￿ recognised immediatety, to the extent that the revergal does not result in a carrying amount ol the financial asset that exceeds what the carrying amount would h8ve b¢en ha(1 the impaiment not prevwly been recognised. Deflned contrlbutlon plans Contributions to defined contribution plans a￿ recognised as an expense in the period in wh￿b the related serwce is provided. Prepaid contributions are rLwnised as an asset to the extent that the prepayment will lead lo a reduction in future payTnents or a cash Tefund. When wnlributions are not 8XPe¢ted to be sgttled wholly wrthin 12 rnonth3 of the end of the reporting dale in which the employees render the TeL4led Se￿￿, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in wh￿h rt arises. The Reading Hindu Centre Notes to the Financial Statements (witthuedj Year ended 31 December 2023 Donations and legacies Unrestricted Funds Restricted Totsl Fund$ Funds 2023 Donations Donations Money box ￿1￿ctionS Charity membership fees Cultural and religious actimties {Puja8) Hire of ￿ntre resource8 Gift Aid ciaimed Fund raising events 46.008 58.622 126 5,791 8,523 10,319 4,320 133,7Ce 1.000 47,008 58.622 126 6.791 8,523 10.319 4.320 1,000 134.709 Unwtricted Funds Restricted Total Funds Funds 2022 Donations t)onations Money box collections Charity membership fees Cullural and reloh)us aclivilies {Puja8) Hire of centre resources G￿ Aid cleimed Fund ra￿Ing events 48,854 40,365 421 3.151 4.453 6,140 48,854 40,365 421 3,151 4.453 6.140 103,384 103,384 Other tradlng actlvltl unreStr￿ted Total Funds Unrestricted Totsl Fund8 Funds 2023 Funds 2022 Sal• of ehunni. b¢)ok8 etc 145 145 183 183 Investment Income Unrestrided Total Funds Unrestricted Total Fund8 Funds 2023 Funds 2022 Bank interest receivab 823 Costs of rnising donatlons and legacles Unrestricted Tolal Funds Unrestricted Total Funds Funds 2023 Funds 2022 Costs of raising donati¢)n$ and b3ac Events 3.271 3,271 10- The Reading Hindu Centre Notes to the Flnanclal Ststements Icontinu¢dJ Year ended 31 December 2023 Expendlture on charltable actlvltles by fund type Unrestrirt￿1 Totsl Funds Unrestricted Total Funds Funds 2023 Funds 2022 Hindu faith and ￿ltUre SLfPPOrt costs 63.038 3,011 63,038 3,011 70,852 3.090 70,852 3,090 66.049 66.049 73,942 73,942 Ex￿ndIture on charltable actlvltl86 by actt¥lty type Activf(vJ undertaken directly Support ts)st8 Totsl funds 2023 Total fund 2022 Hindu farth and cumure Govemance costs 83,038 63.038 3,011 66.049 70,852 3,090 3.011 63.038 3,011 73,942 10. Analy810 of 8UPPOrt cost8 Hindu faith ond culture Totsl 2023 Total 2022 Governan¢• costs 3.012 3.012 3,090 11. Independent oxamln•tlon foes 2023 2022 Fees payable to the independent examiner for. Independent ex￿1fte110n of the financial statements 2,350 2.000 12. Staff cost• The total Staff cc6ts and empk)yee benefiis for the rewting Per￿ are enalysed as follows.. 2023 2022 Wages and salaries Emph)yer Contribut￿n$ to pen$lon plans 23,351 19,726 272 23.376 19,998 Tha average head count of anployees during the year was 2 {2022'. 2). The av8rage number of full-time equivalent employees during the year is analysed 8s follows.. 2023 No. 2022 Number of staff - Religious Number of staff - Maintenanco 11 The Reading Hindu Centre Notes to the Financial Statements Year ended 31 December 2023 12. Staff eosts (¢onthu8dJ No employee received 8mpbyee beneffts of more than £60.LNXI during the year12022.. Nill. 13. Trusteo remuneratlon and exwn8e8 No remuneration or olher benefrts from ttnployment with the charity or a related entity we received by the Iruslees. 14. Tanglble flxed as8•ts Freehok property Equipment Total Co#t At 1 January 2023 and 31 DKernbor 2023 Dgprgclatlon At 1 January 2023 and 31 DK•mb•r 2023 Carrylng amount At 310•¢0m￿r 2023 1,250.C 28,143 1,276,143 26.143 26.143 1,250,000 1,250,000 Al 31 t)ecember 2022 1.250,000 1.250,000 Th¢ freehold proporty at 112 Whrtley Street. Reading included in the accounts was acquired In 1997. The freehold property were revalued 8t open market value by Faimealhers Charterad Surveyors as 8131st December 2015. assumed v8canl po8se88h)nl The charity has taken advonlage of the Ir8nsitional provisions available in the FRS 102 to eary Iho¥e a$$els at that valuè less depwiation in subsequent yews. Subsequent addrtKin8 to fre8hok4 land and building8 are included at cost. The comparabkg amount8 lor fteehold prrrnation The charity is a public benefrt entity and a ￿gIste￿ charrty in England and Wales and is unincorporated. The athjress of the principal office ￿ 112 Whitley Street. Reading. Berks, RG2 OEQ. Statement of compliance These financial statements have been prepared in complianc8 with FRS 102, The Financial Reporting Standard applicable in the UK and the Republ￿ of Ireland,. the Statement of Recommended Practice applicable to charities preparing their a￿￿ntS in a¢¢ordance wrth the Financial Reporting Stsndard applicable in the UK and Republic of IreLand IFRS 1021 (Charitie8 SORP IFRS 10211 and the Charities Act 2011. Accounting policles easis of prnparation The financial statwnents have been prepared cfi the hi8tOfical cost basis. 88 mtsjified by the revaluation of certain financial assgls and liabilities and investment prcs)ertiès measur8d at falr value through income or expendf(ure. The financial statements are prepared in sterling. which is Ihe functional currency of the enlily. Golng con¢•m There ore no material uncertainties about Ihe charty's abilty lo contin￿. Dlxlo8ur• 8x•mptlon• Under the 8mall entity provisions within S1A of FRS 102, the charity claim5 exemption from preparing a cash flow statement. Judgements and key Sources of e8tlmatlon uneertalnty The preparation of the financial statements requires management to make judgements. eslimales and assumptions that affect the amounts rekxirted. These estimates and judgement8 are continually reviewed and afe based on experience and other factors, including expectations of future events that are believed to be reasonab￿ under the circumstanc88. Fund accountlng Fund accountlng Unrestricted funds are 8V8i5able for use at the discret￿n of the trustees in furtherance of the purposes of tho ¢hoTty. Unreslrithd funds include a revaluation reserve representing the restalemenl of Freehold property al market value. Restricted funds are subjected lo restrictions on their expendrture imposed by the d(M)or. The Reading Hindu Centre Notes to the Financial Ststements (conl•iued) Year ended 31 December 2023 Accounting policies (C￿1*￿￿ Incomlng rnsources Income All income is included in the Statement of financial aclivities when the charily is entitled lo the income, any performance related condilK)ns attached have been met or are fully within the conlrol of the charity. the income is considered probable ar￿ the amount can be quantified with reasonable accur8cy. The followng specrfic policies are applied lo particular categories of Ineome.. Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activrties when receivable. Investment in￿rne 1$ included when re¢eivable. Income fTcm grants, where related lo perfomiance and specffic d81iverabl8s, ar8 accounted for as the charTty eams the right to eonsideration by its perfomance. Rosource8 gxpgnded Exrenditure is recc#3ni8ed on an accruals basis as a Ik8bilty is ineurred. Expendtture includes any VAT which cannot be fulty recovered, and 1$ ¢5ossrfied under headings of the Stslement of finaneial activities to whi¢h rt ￿l•le$.. èxpenditure on raising funds inclLtd6s the costs of all fund¢a¢8ing actNiiies. events, nOn-eh8rrtab￿ trading activities, and the sale of donated goods. expendlture on Charitab￿ actNrti88 include8 all costs incurred by a charity in undertaking aclivi(ies that further its charitable ains for the benefit of ils beneficiaries, including those support costs and cthls relating to thè governan￿ of tha charity apportiongj lo charrtablo acltvilies. other expenditure includ68 all gxpenditurg that io neither rel*ed to rai8ing fvndB for the chanty nor part of its eX￿nditure on charitable aGtNitig5. All ¢ost$ are o111)G*ed lo expenditure categories refbcting the use of the resource. Direct costs 8ttribulable to a singl8 activity are alkKated direcily to that aclivily. Shared costs are apportiongd between the activft￿s they contribute to on a ￿aSOnable, iuslrfiable and consistent basis. Tanglble a88•ts All fixed assels are inrtially recorded al cost. Tangible fixed asset8 Other than freehold land are staled at cost or valuation ￿83 depreciation. Fr8•hold Prop8rty 2% on mst. No depreciation is prowded in respecl of freehold land. No depreciat￿n is provided on thg freehold buiklings as in the opinion of the ExecutNe Committee the residual value of the building will not be less than deemed cost of the building as the building is maintained lo such a high $landard. Depreclatlon DepreCiat￿n is cakuL4led 80 as to write off the cost or valuation of an asset. less ts ie$idu81 V81ue. over the useful economic Irfe of that asset as follows.. Equipment 33% straight line The Reading Hindu Centre Notes to the Financial Statements (wilin￿) Year ended 31 December 2023 Accounting policles (¢OrfMiued) Impairnent of fixgd assets A review for indicators of impaimient 1$ carried out at exh reP￿tIng date, wrth the recoverable amount being eslimaled where such ind￿alOr$ exisl. Where the caTrying value exceeds the recoverable amount, Ihg asset is impaired accordingly. Prior impaimenls are also reviewed for possible reversal at each repo￿.n9 dale. For the purposes of impai￿ent testing, when it is not p)ssible to estimate the recoverable amount of an irKINidual asset, an oslimate is made of the recoverable amount of the cash-generaling unrt to wh￿h the asset belongs. The cash-98neraling untt is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely Independent of the cash intlows from other assets or groups of assets. Flnancl•l Instruments A financial asset or a financial liabilty is recognised only whèn the éntity becomes a party to the contractual provisions of the instrument. Bas￿ financial instrumen15 are initially re¢ogni$&d al the amount reeeivable ¢y payab￿ Including any related transaction costs. unless the arrangement conslbtutes a financing transxlion, where rt is recognised at the present value of the future payments dis¢ounted al a market Tate of interest for a similar debt instrument. Current assets and current liabilities are subsequently Measu￿ at the cash or othèr con8Kleration expected to be paKI or r&eived and not discounted. Debt in8lrumenls are sub8equently measured at amorttsed cost. Financial assets that are measured at eost or am¢)rtlsed cost am review8d for objeclrve evidence of impairment al the end of each reporting dale. If there is objective evidencé of irnpaimanl, an impairment loss is recognised under the approPr￿te heading in the slalement of financial activf(ies in which the initial gain was recognised. For all equity instrument¥ regar(11￿ of synffKance, and other financial assets that are individually significant, these arg assessed indNidually for impaimient. Other financial oysets are erther assessed individually or grouped on the basis of similar credrt risk characteristics. Any reversals of impairment a￿ recognised immediatety, to the extent that the revergal does not result in a carrying amount ol the financial asset that exceeds what the carrying amount would h8ve b¢en ha(1 the impaiment not prevwly been recognised. Deflned contrlbutlon plans Contributions to defined contribution plans a￿ recognised as an expense in the period in wh￿b the related serwce is provided. Prepaid contributions are rLwnised as an asset to the extent that the prepayment will lead lo a reduction in future payTnents or a cash Tefund. When wnlributions are not 8XPe¢ted to be sgttled wholly wrthin 12 rnonth3 of the end of the reporting dale in which the employees render the TeL4led Se￿￿, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in wh￿h rt arises. The Reading Hindu Centre Notes to the Financial Statements (witthuedj Year ended 31 December 2023 Donations and legacies Unrestricted Funds Restricted Totsl Fund$ Funds 2023 Donations Donations Money box ￿1￿ctionS Charity membership fees Cultural and religious actimties {Puja8) Hire of ￿ntre resource8 Gift Aid ciaimed Fund raising events 46.008 58.622 126 5,791 8,523 10,319 4,320 133,7Ce 1.000 47,008 58.622 126 6.791 8,523 10.319 4.320 1,000 134.709 Unwtricted Funds Restricted Total Funds Funds 2022 Donations t)onations Money box collections Charity membership fees Cullural and reloh)us aclivilies {Puja8) Hire of centre resources G￿ Aid cleimed Fund ra￿Ing events 48,854 40,365 421 3.151 4.453 6,140 48,854 40,365 421 3,151 4.453 6.140 103,384 103,384 Other tradlng actlvltl unreStr￿ted Total Funds Unrestricted Totsl Fund8 Funds 2023 Funds 2022 Sal• of ehunni. b¢)ok8 etc 145 145 183 183 Investment Income Unrestrided Total Funds Unrestricted Total Fund8 Funds 2023 Funds 2022 Bank interest receivab 823 Costs of rnising donatlons and legacles Unrestricted Tolal Funds Unrestricted Total Funds Funds 2023 Funds 2022 Costs of raising donati¢)n$ and b3ac Events 3.271 3,271 10- The Reading Hindu Centre Notes to the Flnanclal Ststements Icontinu¢dJ Year ended 31 December 2023 Expendlture on charltable actlvltles by fund type Unrestrirt￿1 Totsl Funds Unrestricted Total Funds Funds 2023 Funds 2022 Hindu faith and ￿ltUre SLfPPOrt costs 63.038 3,011 63,038 3,011 70,852 3.090 70,852 3,090 66.049 66.049 73,942 73,942 Ex￿ndIture on charltable actlvltl86 by actt¥lty type Activf(vJ undertaken directly Support ts)st8 Totsl funds 2023 Total fund 2022 Hindu farth and cumure Govemance costs 83,038 63.038 3,011 66.049 70,852 3,090 3.011 63.038 3,011 73,942 10. Analy810 of 8UPPOrt cost8 Hindu faith ond culture Totsl 2023 Total 2022 Governan¢• costs 3.012 3.012 3,090 11. Independent oxamln•tlon foes 2023 2022 Fees payable to the independent examiner for. Independent ex￿1fte110n of the financial statements 2,350 2.000 12. Staff cost• The total Staff cc6ts and empk)yee benefiis for the rewting Per￿ are enalysed as follows.. 2023 2022 Wages and salaries Emph)yer Contribut￿n$ to pen$lon plans 23,351 19,726 272 23.376 19,998 Tha average head count of anployees during the year was 2 {2022'. 2). The av8rage number of full-time equivalent employees during the year is analysed 8s follows.. 2023 No. 2022 Number of staff - Religious Number of staff - Maintenanco 11 The Reading Hindu Centre Notes to the Financial Statements Year ended 31 December 2023 12. Staff eosts (¢onthu8dJ No employee received 8mpbyee beneffts of more than £60.LNXI during the year12022.. Nill. 13. Trusteo remuneratlon and exwn8e8 No remuneration or olher benefrts from ttnployment with the charity or a related entity we received by the Iruslees. 14. Tanglble flxed as8•ts Freehok property Equipment Total Co#t At 1 January 2023 and 31 DKernbor 2023 Dgprgclatlon At 1 January 2023 and 31 DK•mb•r 2023 Carrylng amount At 310•¢0m￿r 2023 1,250.C 28,143 1,276,143 26.143 26.143 1,250,000 1,250,000 Al 31 t)ecember 2022 1.250,000 1.250,000 Th¢ freehold proporty at 112 Whrtley Street. Reading included in the accounts was acquired In 1997. The freehold property were revalued 8t open market value by Faimealhers Charterad Surveyors as 8131st December 2015. assumed v8canl po8se88h)nl The charity has taken advonlage of the Ir8nsitional provisions available in the FRS 102 to eary Iho¥e a$$els at that valuè less depwiation in subsequent yews. Subsequent addrtKin8 to fre8hok4 land and building8 are included at cost. The comparabkg amount8 lor fteehold pr