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2021-03-31-accounts

Charity number: 1118980 Company number: 06049370

Hindu Cultural Society of Bradford (A Company limited by guarantee)

Trustees' report and financial statements for the year ended 31 March 2021

Hindu Cultural Society of Bradford (A company limited by guarantee)

Contents

Page
Legal and administrative information 1-2
Trustees' report 3-5
Independent Examiner report to the trustees 5
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9-14

Hindu Cultural Society of Bradford (A company limited by guarantee)

Legal and administrative information

Charity registration number 1118980
Company registration number 6049370
Business address 341 Leeds Road
Bradford
BD3 9LS

Trustees

Mukesh Kumar Chawla
Samykkurukkal Balakrishnan
Rajesh Bhardwaj
Ishvarbhai Bhanabhai
Deepak Shukla
Ravinder Dharni
Hridesh Kumar Gupta
Santosh Gupta
Baldev Krishen
Kumarvel Kurusamy
Ashok Kumar Nair
Deepak Kumar Sharma
Kamaljit Sharma
Suresh Tailor
Phoolan Balbev Vig
Ramesh Kurmar Batra (Appointed 26.07.2020)
Natvarlal Ranchhodji Taylor (Appointed 26.07.2020)
Vipin Joshi (Resigned 26.07.2020)

Company Secretary

Rakesh Sharma

Page 1

Hindu Cultural Society of Bradford

(A company limited by gurantee)

Legal and administrative information

Independent Examiner:

Bankers

D&D Accountancy & Taxation Ltd Institute of Financial Accountants West44 Business Centre 44-60 Richardshaw Lane Pudsey, Leeds LS28 7UR

Lloyds Bank

Hustlergate Bradford PO Box 1000 BX1 1LT

Page 2

Hindu Cultural Society of Bradford (A company limited by guarantee)

Report of the trustees(incorporating the directors' report) for the year ended 31 March 2021

The trustees present their report and the financial statements for the year ended 31 March 2021. The trustees, who are also directors of Hindu Cultural Society of Bradford for the purposes of company law and who served during the year and up to the date of this report are set out on page 1.

Structure,goverance and management

Directors

The Directors who served during the year end up to the date of this report are set out on page 1.

Members

The members gurantee to contribute an amount not exceeding £1 to the assets of the charitable organisation in the event of winding up.The total such guarantees at 31 March 2021 was 18.

Management

The Board consisiting of the committed 8-office bearers and 10 Directors, total 18 memebers, was

responsible for the overseeing of the policies, startegic development and growth of the company by drawing on their expertise.

Risk Management

The directors have assessed the major risks to which the charity is exposed and are satisifed that systems are in place to mitigate exposure to the major risks.

Objectives and activities

Mission and Vision of the company

To promote the social, cultural, religious and eductaional aspirations of hindus living in Bradford. With a clear vision to develop a more cohesive and sustainable community by buiding partnerships with the local authority and people of different faiths in Bradford and the region.

The charity promotes its vision by managing the Shree Lakshmi Narayan Hindu Temple, Bradford and running the Shree Krishna Elderly Day Care Centre.

Financial Review

Financial Commitments

The extension work was completed without any external loan and no major project is expected in 2021, the society will endeavour to run the temple and carry out other activities to near normality under the current situation.

Page 3

Hindu Cultural Society of Bradford (A company limited by guarantee)

Covid-19

The temple is open as normal as per the government guidelines. The number of visitors is slowly increasing but not to the precovid restriction level.

The devotees are organising sponsored programmed. The day centre is open for one day a week and kitchen is open to prepare meal.

Brexit

We don't think Brexit will have any impact on our organisation, as all our operations are with the U.K.

Financial Review - Reserves

The surplus for the year ended 31 March 2021 was £60,088 (2020: surplus of £99,930).This was represented by an unrestricted surplus of £51,088 (2020: surplus of 82,497) and restricted surplus of £9,000 (2020:surplus £17,433).

The Reserve balance as at 31st March 2021 was £3,730,826 (2020: 3,670,738) and this was represented by an unrestricted fund of £3,715,439(2020:£3,664,351) and restricted fund of £15,387 (2020:£6,386).

Statement as to discolsure of information to Independent Examiner (IE)

In so far the trustees are aware:

Statements of trustees' responsibilities

The trustees (who are also directors of Hindu Cultural Society of Bradford for the purpose of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Company law requires the trustees to prepare financial statemnts for each financial year which give

a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.In preparing these financial statements, the trustees are required to:

Page 4

Hindu Cultural Society of Bradford (A company limited by guarantee)

Report of the trustees(incorporating the directors' report) for the year ended 31 March 2021

The trustees are responsible for keeping proper accounting records which diclose with reasonableaccuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Independent Examiner

D&D Accountancy & Taxation Ltd were appointed as Independent Examiner to the charitable company and are deemed to be re appointed in accordance with Section 487(2) of the Companies Act 2006.

Small company provisions

This report has been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006.

On the behalf of the board

A K Nair Chair

S Tailor Treasurer

Date:

Page 5

Hindu Cultural Society of Bradford

(A company limited by guarantee)

Independent Examiner's Report to the Trustees of Hindu Cultural Society of Bradford

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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.

Signed:

Name: Mr Venukrishna Dontula (AFA, ATA, MIPA)

For and on behalf of D&D Accountany & Taxation Ltd t/a D&D Accountancy Institute of Financial Accountants Address: West44 Business Centre, 44-60 Richardshaw Lane, Pudsey, LS28 7UR

Date: 27/12/2021

Page 6

Hindu Cultural Society of Bradford

(A company limited by guarantee)

Statement of financial activities (incorporating the income and expenditure account) For the year ended 31 March 2021

Notes
Incoming resources
Incoming resources from
generating funds:
Voluntary income
3
Investment income
4
Total incoming resources
Resources expended
Charitable activities
5
Goverance costs
6
Total resources expended
Net income(expenditure) for the year
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
143,896
273
144,169
89,695
3,386
93,081
51,088
3,670,738
3,721,826		 Restricted
funds
£
9,000
0
9,000
0
0
0
9,000
0
9,000		 2021
Total
£
152,896
273
153,169
89,695
3,386
93,081
60,088
3,670,738
3,730,826		 2020
Total
£
242,656
959
243,615
133,702
9,983
143,685
99,930
3,570,808
3,670,738

The statement of financial activities includes all gains and losses in the year and therefore a separte statement of total recognised gain and losses has not been prepared.

All of the above relate to continuing activities.

The notes on pages 9 to 14 form an integral part of these financial statements

Page 7

Hindu Cultural Society of Bradford

(A company limited by guarantee)

Balance sheet

as at 31 March 2021

Notes
Fixed assets
Tangible assest
10
Current assests
Debtors
11
Cash at bank and in hand
Crediotrs:amounts falling
due within one year
12
Net current assests
Total assets less current liabilities
Net assets
Funds
13
Restricted income funds
Unrestricted income funds
Total funds		 2021
£
£
3,395,099
27,414
331,874
359,288
-23,562
335,726
3,730,825
3,730,825
6,386
3,724,439
3,730,825		 2020
£
£
3,256,349
26,320
411,631
437,951
-23,562
414,389
3,670,738
3,670,738
6,386
3,664,351
3,670,737		 2020
£
£
3,256,349
26,320
411,631
437,951
-23,562
414,389
3,670,738
3,670,738
6,386
3,664,351
3,670,737
3,670,738
6,386
3,664,351
3,670,737

"For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

These accounts have been prepared in accordance with the provisons applicable to companies subject to the small companies' regime."

The financial statements were approved by the board on and signed on its behalf by

A K Nair Chair

S Tailor Treasurer

The notes on pages 9 to 14 form an integral part of these financial statements

Page 8

Hindu Cultural Society of Bradford (A company limited by guarantee)

Notes to financial statements for year ended 31 March 2021

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the proceeding year.

The accounts have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets and investments measured at market value. The accounts have been prepared in accordance with FRS102(effective January 2015), and the requirements of Accounting and Reporting by Charities:Statement of Recommended Practice applicable to charities preparing thier accounts in accordance with SORP 2015 (effective January 2015).

Transaction to FRS 102

The charity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Detail of how FRS 102 has affected the reported financial position and financial performance is given in note 20.

The charity has taken advantage of the exemption in FRS1 from the requirements to produce a cashflow statement because it is a small charity.

Membership income is credited to the income and expenditure account in the period received. Gift aid income is credited to the income and expeniture account in the period. The restricted funds relate to the activities of the Shree Krishna Elderly Day care Centre. Grants, including grants for the purchases of fixed assets are recognised in full in the statement of financial activities in the year in which they are receivable. Income from investments is included in the year in which it is receivable.

Page 9

Hindu Cultural Society of Bradford (A company limited by guarantee)

Notes to financial statements for the year ended 31 March 2021

2.4 Resource Expended

Expenditure is recognised on an accural basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to whichit relates.

Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the chairty's shop. Charitable expenditure comrpises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.It includes both costs that can to such activities and those costs of an indirect nature necessary to support them.

2.5 Tangible fixed assets and deprectiation

Tangible fixed assets are stated at cost less accumulated depreciation.Depreciation is provided at rates calculated to write off the cost less residual value of each assest over its expecteduseful life, as follows.

Fixtures,fittings and equipment- 25% reducing balance

Depreciation of freehold buildings has not been provided for as they are consistently kept at ahigh standard of repair, their economic life is sufficently long so that accumulated depreciation is not material to these financial statements.

3 Voluntary Income

Voluntary Income
Donations
Gift aid tax refund
Grants receivable
Mmebership
Other income		 Unrestricted
Restricted
2021
2020
funds
fund
Total
Total
£
£
£
£
72,027
0
72,027
121,415
38,142
0
38,142
37,341
4,675
9,000
13,675
43,053
1,312
0
1,312
3,926
27,740
0
27,740
36,921
143,896
9,000
152,896
242,656

4 Investment Income

Bank interest receivable Unrestricted
2021
2020
funds
Total
Total
£
£
£
273
273
959
273
273
959

Page 10

7

Hindu Cultural Society of Bradford (A company limited by guarantee)

Notes to financial statements

for year ended 31 March 2021
5 Costs of charitable activities-by fund type
Unrestricted Restricted 2021 2020
funds fund Total Total
£ £ £ £
HCS Charitable activities 89,695 0 89,695 133,700
89,695 0 89,695 133,700
6 Goverance costs
Accountancy Fees
Auditor remuneration
Professional fees
Bank cahrge
Payroll services
Depreciation & impairment		 Unrestricted
2021
2020
funds
Total
Total
£
£
£
696
696
1,500
0
0
4,920
0
0
13
490
490
465
0
0
151
2,200
2,200
2,934
3,386
3,386
9,983
Net incoming/outgoing resources for the year
Net incoming/outgoing resources is stated after charging:
Depreciation and other amounts written off in tangible
fixed assest
Auditors' remuneration		 2021
2020
Total
Total
£
£
2,200
2,934
0
4,920
2,200
7,854

Page 11

8

9

10

Hindu Cultural Society of Bradford (A company limited by guarantee)

Notes to financial statements for year ended 31 March 2021

Employees

Employment costs
Wages and salaries		 2021
2020
Total
Total
£
£
37,936
38,118
37,936
38,118

No employee received employment of more than £60,00 (2020:none)

Number of employees

The average monthly numbers of employees during the year, calculated on the basis of full time equivalents,was as follows:

full time equivalents,was as follows:
Management and administration of the charity
Community centre		 2021
2020
Number
Number
1
1
5
7
6
8

Taxation

The charity's activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1988.Accordingly, there is no taxation charges in these accounts.

Tangible fixed assets

Tangible fixed assets
Cost
As at 1 April 2020
Addittion
At 31 March 2021
Depreciation
At 1 April 2020
Change for the year
At 31 March 2021
Net book values
At 31 March 2021
At 31 March 2020		 Land and
Fixtures
Silver
total
buildings Freehold
fittings and equipments
and gold
£
£
£
£
3,236,548
140,662
11,000
3,388,210
140,950
0
0
140,950
3,377,498
140,662
11,000
3,529,160
0
131,861
0
131,861
0
2,200
0
2,200
0
134,061
0
134,061
3,377,498
6,601
11,000
3,395,099
3,236,548
8,801
11,000
3,256,349
Page 12

Hindu Cultural Society of Bradford

(A company limited by guarantee)

Notes to financial statements

for year ended 31 March 2021

Notes to financial statements
for year ended 31 March 2021		 Notes to financial statements
for year ended 31 March 2021
2021
2020
11
Debtors
Total
Total
£
£
Trade debtors
24,582
23,488
Prepayments and accured income
2,832
2,832
27,414
26,320
12
Creditors: Amount falling due within one year
2021
2020
Total
Total
£
£
Trade creditors
7
8
other creditors
19,054
19,054
Accurals and deferred income
4,500
4,500
23,561
23,562
13
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
Fund balances at 31 March 2021 represented by:
Tangible fixed asstes
3,395,099
0
3,395,099
Current assets
352,901
6,387
359,288
Current liabilities
-23,561
0
-23,561
3,724,439
6,387
3,730,826
14
Unrestricted funds
At 1 April
incoming
outgoing
transfer
31March
2020
resources
resources
2021
£
£
£
£
£
Unrestricted funds
3,664,351
144,169
-93,081
0
3,715,439
15
Restricted funds
At 1 April
Incoming
Ooutgoing
At 31 March
2020
resources
resources
Transfers
2021
£
£
£
£
£
Restricted funds
6,387
9,000
0
0
15,387
Page 13		 Unrestricted
funds
£		 2021
2020
Total
Total
£
£
24,582
23,488
2,832
2,832
27,414
26,320
2021
2020
Total
Total
£
£
7
8
19,054
19,054
4,500
4,500
23,561
23,562
Restricted
Total
funds
funds
£
£
3,395,099
0
3,395,099
352,901
6,387
359,288
-23,561
0
-23,561
3,724,439
6,387
3,730,826
3,664,351
144,169
-93,081
0
3,715,439
At 1 April
Incoming
Ooutgoing
At 31 March
2020
resources
resources
Transfers
2021
£
£
£
£
£
6,387
9,000
0
0
15,387
Page 13

Hindu Cultural Society of Bradford

(A company limited by guarantee)

Notes to financial statements for year ended 31 March 2021

The extension work was completed without any external loan and no major project is expected in 2021, the society will endeavour to run the temple and carry out other activities to near normality under the current situation.

Page 14

Hindu Cultural Society of Bradford

(A company limited by guarantee)

The following pages do not form part of the statutory accounts.

Page 15

Hindu Cultural Society of Bradford
(A company limited by guarantee)
Incoming resources
Incoming resources from generating funds:
Voluntary income
Donations
Gifts aid tax refund
Grant receivable
Membership
Other income
Investment income
Bank interest receivable
Total income resources
Resources expended
HCS Charitable activities
Wages& salaries
Rates & water
Light & heat
Repairs & maintenance
Insurance
Printing,postage&stationery
Advertisement
Plates/spoons& groceries
Festival celebrations
Travel
Telephone & Internet
Professional fees
Sundaries
Cleaning& Waste disposal
Other expenses
Donations
Governance costs
Accountancy fee
Auditor remuneration
Professional fees
Bank charge
Payroll services
Depreciation
Total resources expended
Net incoming/outgoing resources		 2021
£
72,027
38,142
13,675
1,312
27,740
152,896
273
273
153,169
37,936
4,697
13,047
9,566
3,778
743
0
0
0
0
1,117
9,201
4,570
1,298
716
3,026
89,695
696
0
0
490
0
2,200
3,386
93,081
60,088		 2020
£
121,415
37,341
43,053
3,926
36,922
242,657
959
959
243,616
38,118
3,453
13,553
13,030
3,716
1,680
25
1,200
20,413
4,467
2,349
9,000
6,352
1,210
844
14,293
133,703
1,500
4,920
13
465
151
2,934
9,983
143,686
99,930

Page 16