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 2024
Hindu Cultural Society of Bradford (A company limited by guarantee) Contents Page Legal and administrative Information Trustee5' report Independent Examiner report to the trustees Statement of financial activitles Balance sheet Note5 to the financial statements 9-14
Hindu Cultural Society of Bradford IA company limited by guarantee) Legal and admlnistrative Informatlon Charity reglstration number 1118980 Company registration number 6049370 Business address 341 Leeds Road Bradford BD3 9LS Trustees Mukesh Kumar Chawla Samykkurukkal Balakrishnan Santosh Gupts Baldev Krishen Kumarvel Kurusamy Ashok Kumar Nalr Kamallit Sharma Suresh Tailor Phoolan Balbev Vlg Rajnlsh Ahuja Natvarlal Ranchhodji Taylor Ramesh Goyal Satish Khatri Puneet Kumar Tyazl Rakesh Sharma Deepak Krishan Shukla Vlnay Verma Ramesh Kurmar Batra Jyoti Thakur (Resigned 24.09.20231 (Resigned 24.09.20231 Page I
Hlndu Cultural Society of Bradford (A company limited by gurantee) Legal and admlnistrative Information Independent Examlner: D&D Accountancy & Taxation Ltd Institute of Financial Accountsnts West44 Business Centre ' 44-60 Richardshaw Lane Pudseyi Leed5 LS28 7UR Bankers Lloyds Bank Hustlergate Bradford PO Box 1000 8x1 ILT Page 2
Hindu Cultural Society of Bradford (A company Ilmited by guarantee) Report of the trusteesllncorporating the directors, report) for the year ended 31 March 2024 The trustees present their report and the financlal statements for the year ended 31 March 2024. The trustees. who are also dlrectors of Hlndu 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 l. Structureigoverance and management Directors The Directors who served during the year end up to the date of this report are set out on page l. Members The members gurantee to contribute an amount not exceeding £1 to the assets of the charitable organlsation In the event of wlnding up.The total such guarantees at 31 March 2024 was 17. Monagement '.The Board consisiting of the committed &office bearers and 11 Director5, total 17 memebers, was responslble for the over5eeln8 of the pollcle5, Starteglc development and growth of the company by drawing on their expertise. Rlsk Management ' The dlrertors have assessed the major rlsk5 to whlch the charlty Is exposed and are satlslfed that systems are in place to mltlgate exposure to the major risks. Objectives and activities Misslon and Vision of the company To promote the social, cultural, religious and eductaional asplratlons of hindus Ilvlng in Bradford. Wlth a clear vlslon to develop a more Coheslve and sustalnable community by building partnerships with the local authorlty 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. Financlal Review Flnonclal Commltments The Kithcen renovation work has been proposed which will be funded through the reserve funds and there Is no other financial commltments for the charity. Page 3
Hindu Cultural Society of Bradford (A company limited by guaranteel Cost of Llving Evcn thou£h -ar In CO of living• donations have increased In 2024, the devotees has been morc generous towards the charity and to keep up with the culuture and well being of humans. Thc devotees arc organiJrinE sponsorcd programmed. The day centre is open for one day a week and kitchen Is open to prepare meal. Brexlt 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 2024 was £136.822 (2023: surplus of £79,5151.This was represented by an unrestrirted surplus of £136.82212023: surplus of£79,515) and restrlcted surplus of £0 (2023:surplus £0). '.The Reserve balance as at 31st March 2024 was £4,031,11712023: £3.894,295) and thls was represented by ' an unrestricted fund of £4,031,11712023: £3,894,295) and restricted fund of £O12023:£0). ststcmcnt to di4colsure of information to Independent Examiner (IE) In so far the trustee5 are aware: therc if• no relcvunt infonnation of which the charitable com3pny IE are unaware and ', tho trustees have taken all steps that they ought to have taken to make themselves aware of any relevant Informatlon and to e•tabli*h that the IE are aware of that infomiation. Statements of trustees, responslbllltles The trustees (who are also dlrertors of Hlndu Cultural Soclety of Bradford for the purpose of company lawl are responsible for preparing the Trustees, Annual Report and the financial statements In accordance with applicable law and United Klngdom Generally Accepted Accounting Practice. Company law requires the trustees to prepare financial statemnts for each financial year which give a true and falr vlcw of the statc of affairs of the charitable company and of the Incomlng resources and application of resources. including the income and expendlture. of the charitable company for that period.ln prcparing the••e financial statements, the trustees are required to: selert suitsble accounting policies and then aply them consistentlyi observe the methods and principles in the Charities SORP: - make Judgements and estimates that are reasonable and prudent. Page 4
Hindu Cultural Society of Bradford (A company Ilmited by guarantee) Report of the trurteeslincorporatinE the dlrectors, report) for the year ended 31 March 2024 sLite whether applicable UK Accounting Standards'have been followed, subject to any material departures dlsclosed and explained In the flnanflal ststernents.and prepare the financial statements on the ongoing concern basis unless it is inappropriate to presume that the charltable company wlll contlnue In operation. The trustees are responsible for keeping proper accounting records which diclose with reasonableaccuracy at any tlme the flnancial posltion of the charltable company and which enable them to ensure that the flnanclal statements comply with the Companles Act 2006. They are also responsible for safeguarding the assets of the charitable company and lieiice for taking reasonable steps for the preventlon and detertion of fraud and other irregularities. Independent Examlner D&D Accountancy & Taxation Ltd were appointed as Independent Examiner to the charitable company and are deemed to be re appointed in accordance wlth Section 48712) of the Companies Act 2006. Small company provisions This report has been prepared In accordance wlth the speclal provisions for small companies under part 15 of the Companles Art 2006. On the behalf of the board S Tallor Chair AKNalr Treasurer Date: Date: Page 5
Hindu Cultural Society of Bradford (A company limited by guarantee) Independent Examinerfs Report to the Trustees of Hindu Cultural Society of Bradford I report to the charlty trustees on my examination of the accounts of the Companv for the year ended 31 March 2024 Responslblllts and basis of report As the charitys trustees of the Company (and also Its dlrectors for the purposes of company law) you are responslble for the preparation of the accounts In accordance with the requirements of the Companies Art 2006 ('the 21)06 Acv). Havlng satlsfied myself that the accounts of the Company are not require.d to be audited under Part 16 of the 2006 Art and are eligible for independent examination, I report in respect of my examination of your charivs accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 ACV). In carrying out my examination I have followed the Directions 8iven by the Charity Commission under section 14515) (b) of the 2011 Art. Independent examlnees statement I have completed my examSnatSon. I confinn that no matter5 have come to my attentlon In connertion wlth the examlnation giving me cause to belleve: l. accountlng records were not kept In respect of the Company as requlred by sertlon 386 of the 2006 Art,. or 2. the accounts do not accord with those records: or 3. the accounts do not Comply with the accounting requirements of sertion 396 of the 2006 Art other than any requlrement that the accounts glve a 'true and falr vlew whlch Is not a matter considered as part of an independent examination. or 4. the accounts have not been prepared in accordance wlth the methods and principles ol the Statement of Recommended Practice for accounting and reportlng by charities [applicable to charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 102)J. I have no concerns and have come across no other matters Sn connection wlth the examinatlon to which attention should be drawn in this report In order to enable a proper understanding of the accounts to be reached. Sl8ned: Name: Mr Venukrishna Dontula IAFA, ATA, MIPA) For and on behalf of D&D Accountany & Taxation Ltd tla D&D Accountancy Institute of Financlal Accountants Address: West44 Business Centre, 114-60 Richardshaw Lane, Pudsey• LS28 7UR Date: Page 6
Hindu Cultural Society of Bradford IA company Ilmited by guarantee) Statement of financial activities qincorporatin£ the income and expenditure account) For the year ended 31 March 2024 Unrestricted fund5 Restrirted funds 2024 Total 2023 Total Notes Incoming resources Incoming resources from generating lunds: Voluntary income Investment income 263,049 3,016 263,049 3.016 188.320 Total Incoming resources 266,065 266,065 188,320 Resources expended Charitable activities 124,275 4.968 124,275 4,968 102,583 6.223 Goverance costs Totsl resource5 expended 129,243 129,243 108.806 Net.income{expenditure) for the year 136,822 136,822 79,514 Total funds brought fOard 3,894,295 3,894,295 3,814.781 Total funds carried forward 4,031,117 4,031.117 3,894,295 The ststement of financial artivitie5 Includes all gains and losses in the year and therefore a separte statement of total recoznised zain and losses has not been prepared. All of the above relate to contlnuing artivitles. The notes on pages 9 to 14 form an integral part of these financial statements Page 7
Hindu Cultural Society of Bradford IA company Ilmited by guarantee) Balance sheet as at 31 March 2024 Notes 2024 2023 Fixed assets Tangible assest 10 3.627.817 3.631,285 Current assests Debtors Investments Cash at bank and in hand li Ila 33.797 47,857 100,000 134.258 282,115 374.548 408,345 Crediotrs:amounts fallln8 due wlthln one year 12 -5,045 -19.105 Net current assests 403 300 263 010 Total assets less current liabilities 4,031,117 3,894,295 Net assets 4,031,117 3,894.295 Funds Restricted income funds Unrestricted income fund5 13 4,031,117 3,894,295 Total fvnds 4,031,117 3.894,295 "For the flnanclal year In questlon the company was entltled to exemptlon under sertlon 477 of the Companles Art 2006 relatin8 to small companies. No members have required the company to obtaln an audlt of It5 accounts for the year In questlon In accordance wlth section 476 of the Companies Act 2006. The director5 acknowledge their responslbility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts have been preparod In accordanc.e wlth tho provisons applicable to ¢ompanles subject to the small companies, regime." The financial 3tatemcntrd were approved by thc board on 2111112hll i and signed on its behalf by S Tailor AKNair Chair Treasurer The notes on pages 9 to 14 form an integral part of these financial statement5 Page 8
Hindu Cultural Society of Bradford (A company limited by guarantee) Notes to financial statements for year ended 31 March 2024 Accountlng policies The princlpal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the proceedlnB vear. Basis of accounting The accounts havc been prepared under the historical cost convention. as modlfled by the revaluation of certaln fixcd a-th"ts 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 Practicc applicable to charities preparing thier accounts in ac¢ordance with SORP 2015 (effertlve January 2015). Transartion to FRS 102 The charlty transltloned from prevlous UK GAAP to FRS 102 as at l Aprll 2015. Detail of how FRS 102 has affetted the reported financial p051tion and financial performance is given in note 20. Cashflow The charity has L1ken advantage of the exemption in FRSI from the requirements to produce a cashflow Statement because It Is a small charlty. IncomSng resources All incoming resources are Included In the statement of flanclal actlvltles when the charity Is entitled to the income and the accuracy reasonable .The following specific policies are applied to particular categories of income. Voluntary incomc rccIov by way of gr3nts.donatlons and glfts and is included in ful in the statement of financial activities when receievable.Grants where entitlement is not Condltlonal on the dellvery of a speclfic performance by the charlty, are recognised when the charity becomes unconditionally entitled to the grant. Donatlons and gift income is credited to the income and expenditure account in the period recelved. Mcmbership income is credited to the income and expenditure account in the period received. Gift aid income 15 creditcd to the income and expeniture account in the period. The restricted funds relate to the activities of the Shree Krlshna Elderly Day care Centre. Grants, including grants for the purchases of fixed assets are recognised in lull in the statement of financlal actlvities In the year in which they are receivable. Income from Investments is included In the year in which It is recefvable. Page 9
Hindu Cultural Society of Bradford IA company limited by guarantee) Notes to financial statements for the year ended 31 March 2024 2.4 Resource Expended Expcnditurc is rccogniscd on an accural basls as a Ilability Is Incurred. Expenditurc includes any VAT which cannot be fully recovcred* and i• rcported a• part of the expenditure to whithit relatss. Costs of generating funds compride the costs associated with attracting voluntary Incomc and thc costs of tradlng for fundraisln£ purposes including the chairty's shop. Charitable cxpenditurc comrpi•fC4P those costs Incurrcd by the charlty In thc dcllvory of its activitles and services for its beneflciaries.lt Includes both costs that can to such actlvltlcs and th0c Costs of an indirect naturc neccssary to support thcm. 2.5 Tanglble fixed assets and deprertlation Tangible fixed assets are stated at cost less accumulated depreclatlon.Depreclatlon Is provided at rates calculated to write off the cost less residual value of each a$5est over its expecteduseful life, as follows. Flxtures.ffttin8s and equipment- 25% reducing balance Depreclatlon of freehold bulldlngs has not been provlded for as they are conslstently kept at ahigh standard of repalr, their economlc life is sufficently long so that accumulated depreciation is not material to these financial statements. 3 Voluntary Income Unrestrlrted funds Restrlcted fund 2024 Total 2023 Total Donatlons Glft aid tax refund Grants receivable Mmebership Other income 201.679 37.710 23.148 512 201,679 37,710 23.148 512 140,002 34.471 13,243 604 263.049 263,049 188,320 4 Investment Income Unrestrlcted funds 2024 Total 2023 Total Bank Interert retelvable 3,016 3016 Page 10
Hindu Cultural Society of Bradford (A company limlted by guarantee) Notes to financlal statements for year ended 31 March 2024 Costs of charitable actSvSties-by fund type Unrestricted funds Restricted fund 2024 Total 2023 Total HCS Charitable activlties 124.275 124,275 0 124.275 102,583 0 124,275 102.583 Goverance costs Unrestrlcted funds 2024 Total 2023 Total Accountsncy Fees Bank cahrge Depreciation & Impalrment 1,440 60 3,468 4,968 1.440 1.440 159 4,624 6,223 3,468 4.968 Net incoming/outgoing resources for the year 2024 Total 2023 Total Net incomingloutgoing resources is stated after charging: Depreclation and other amounts wrltten off In tanglble fixed assest 3.468 4.624 3,468 4,624 Page 11
Hindu Cultural Society of Bradford (A company Ilmited by guarantee) Notes to financial ststements for year ended 31 March 2024 Employees Employment C05ts 2024 Total 2023 Total Wages and salarles 41,090 41,090 33,685 33.685 No employee received employment of more than £60.000 (2023:none) Number of employees The average monthly numbers of employees during the year, calculated on the basis of full time equivalents,wa5 as follows: 2024 Number 2023 Number Management and admlnlstratlon of the charlty Community centre Taxatlon The charlty's artivitles fall wlthin the exemptlons afforded by the provlslons of the Income and Corporation Taxv*P Act 1988.Accordingly. there is no taxation charges in these accounts. io Tangible fixed assets Land and Fixtures Silver buildings Freehold fittings and equlpments and gold totsl Cost As at l April 2023 Addittion At 31 March 2024 3,606,413 158,723 11,000 3,776.136 3,606,413 158,723 11.000 3,776,136 Depreciatlon At l April 2023 Change for the year At 31 March 2024 144,851 3,468 148,319 144.851 3,468 148.319 Net book values At 31 March 2024 3,606,413 10,404 11,000 3,627,817 At 31 March 2023 3.606,413 13.872 11,000 3,631,285
Hindu Cultural Society of Bradford (A company limited by guarantee) Notes to financial statements for year ended 31 March 2024 2024 Total 2023 Totsl li Debtors Trade debtors Pfepayments and accured Income 33,797 45.025 2,832 47,857 33,797 Ila Investments 2024 Totsl 2023 Total Investment 100,000 100.000 12 Credltors: Amount falllng due wlthin one year 2024 Total 2023 Total Trade creditors other credltors Accurals and deferred Income 5,045 18,596 500 19.105 5.045 .13 Analysls of net assets between funds Unrestrirted Restrlrted Totsl funds funds funds Fund balances at 31 March 2024 represented by: Tanglble Ilxed asstes Current assets Current Ilabllltles 3,627,817 408,345 -5,045 4,031,117 3,627,817 408,345 -5,045 4.031,117 14 Unrestrlcted funds At l April 2023 incoming. resources outgoing resources transfer 31March 2024 Unrestrirted funds 3.894.295 266,065 -129.243 4,031,117 15 Restrirted funds At l April 2023 Incoming resources Ooutgoing resources At 31 March 2024 Transfers Restrirted funds ij
Hlndu Cultural Society of Bradford {A company limited by guarantee) Notes to flnancial statements for year ended 31 March 2024 16 Flnanclal commitment The Klthcen renovatlon work has been proposed which will be funded through the reserve funds and there is no other financial commltments for the tharity. 17 Company Ilmlted by Guarantee Hindu Cultural Society of Bradford Ilmited by guarantee and accordingly does not have a share capital.The Ilabillty of each member is the event of winding up is limited to £l.There were 17 members at 31 March 2024. Page 14
Hindu Cultural Society of Bradford IA company limited by guarantee) The followlng pages do not form part of the statutory accounts. Page 15
Hlndu Cultural Society of Bradford (A company limited by guarantee) Incomlng resources Incoming resources from generating funds: Voluntary Income Donatlons Glfts ald tax refund Grant recelvable Membership Other income 2024 2023 201,679 37.710 23,148 512 140,002 34,471 13,243 263,049 188,320 Investment income Bank interest recelvable 3.016 3,016 Total Income resource5 Resources expended HCS Charitable activities Wages& salarles Rates & water Light & heat .Repalrs & malntenance Insurance Prlntlng•postsge&statlonery Plateslspoons& grocerles Travel Telephone & Internet ' Professional fees Subscriptions Cleanlng& Waste dlsposal Other expenses Donations 266,065 188,320 41,090 1,487 16,880 9,156 4,114 1,062 9,814 3,890 1,154 6.355 33,685 2,604 16,171 12.248 4,129 2,061 10,566 5.592 935 2,475 51 1,740 2,671 27,533 124,275 9,394 102,582 Governance costs Accountancy fee Bank charge Depreciation 1,440 60 3,468 4,968 1,440 159 4,624 6,223 Total resources expended Net incomingloutgoing resources 129,243 136,822 108,805 79,515 Page 16