REGISTERED COMPANY NUMBER: 06243130 (England and Wales) REGISTERED CHARITY NUMBER: 1119701
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
FOR
KRIYA YOGA UK
Accura Accountants Ltd Langley House Park Road East Finchley London N2 8EY
KRIYA YOGA UK
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
KRIYA YOGA UK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 May 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity has been set up to 1) promote and advance the study and practice of Kriya Yoga to improve and uplift the spiritual, mental and physical well-being of sincere seekers of all faiths and beliefs who are thirsting for spiritual knowledge and 2) to provide relief to those who are sick or suffering.
Significant activities
To date we have focussed our efforts on helping the children of Hariharananda Balashram school in the Indian state of Odisha See link: hariharanandabalashram. The residential school was founded in 2004 with the support of Paramahamsa Prajnanananda and Prajnana Mission to help disadvantaged children. The school named after the great master Paramahamsa Hariharananda now provides for 560 children who receive quality care and education.
Each year forty children aged 4 to 5 from poor backgrounds are admitted. Balashram educates and nurtures students for higher studies and offers vocational and life skills training so that graduates are well-equipped to achieve their potential and to live happy and fulfilled lives.
Any profits made from our Kriya Yoga initiation programmes, retreats and other occasional events are sent to Prajnana Mission who distribute funds to Balashram School and Prajnana Mission Health Centres.
FINANCIAL REVIEW
Financial position
Incoming resources decreased from £94,985 in 2022 to £31,221 this year.
Total expenditure increased from £46,607 in 2022 to £69,665 for the current year.
The above factors resulted in a surplus of £38,770 for the current year against a surplus of £77,464 for the year ending 31 May 2022.
Principal funding sources
Donations and programme income have been used to assist with the company's charitable aims.
Reserves policy
It is the policy of the charity to maintain unrestricted funds, which are free reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely administrative costs of the charity for the next year.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Kriya Yoga UK does not have share capital governed by its Memorandum and Articles of Association dated 10th May 2007. It is registered as a charity with the Charity Commission.
The company received charitable status on 18 June 2007.
Recruitment and appointment of new trustees
The trustees are elected by the members of the organisation at the Annual General meeting. The trustees have the power to co-opt persons with a particular skill to contribute to the company. It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.
Page 1
KRIYA YOGA UK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The trustees have a duty to identify and review the risks to which the company is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
06243130 (England and Wales)
Registered Charity number
1119701
Registered office
PO BOX 72328 Kriya Yoga UK London NW7 0JS
Trustees
Swami Prajnanananda Giri M D Givert A S Klein Dr H Rampes J S Baldock N Mittra
Independent Examiner
Accura Accountants Ltd Langley House Park Road East Finchley London N2 8EY
Approved by order of the board of trustees on 2 October 2023 and signed on its behalf by:
Dr H Rampes - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KRIYA YOGA UK
Independent examiner's report to the trustees of Kriya Yoga UK ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2023.
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:
-
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
-
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
-
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.
G Chajet The Institute of Chartered Accountants in England and Wales
Accura Accountants Ltd Langley House Park Road East Finchley London N2 8EY
2 October 2023
Page 3
KRIYA YOGA UK
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2023
| 31.5.23 | 31.5.22 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 31,221 | 94,985 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| General | 69,665 | 46,607 | |
| Other | 250 | - | |
| Total | 69,915 | 46,607 | |
| NET INCOME/(EXPENDITURE) | (38,694) | 48,378 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 77,464 | 29,086 | |
| TOTAL FUNDS CARRIED FORWARD | 38,770 | 77,464 |
The notes form part of these financial statements
Page 4
KRIYA YOGA UK
STATEMENT OF FINANCIAL POSITION 31 MAY 2023
| 31.5.23 | 31.5.22 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 5 | 748 | - |
| CURRENT ASSETS | |||
| Stocks | 6 | 6,149 | 5,092 |
| Cash at bank | 39,271 | 73,932 | |
| 45,420 | 79,024 | ||
| CREDITORS | |||
| Amounts falling due within one year | 7 | (7,398) | (1,560) |
| NET CURRENT ASSETS | 38,022 | 77,464 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 38,770 | 77,464 | |
| NET ASSETS | 38,770 | 77,464 | |
| FUNDS | 8 | ||
| Unrestricted funds | 38,770 | 77,464 | |
| TOTAL FUNDS | 38,770 | 77,464 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 2 October 2023 and were signed on its behalf by:
H Rampes - Trustee
The notes form part of these financial statements
Page 5
KRIYA YOGA UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The trustees are of the opinion that the charity will receive incoming funds and structure its costs over the next 12 month. They are therefore of the opinion that the charity is a going concern.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31.5.23 | 31.5.22 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation - owned assets | 250 | - |
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continued...
KRIYA YOGA UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2023
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 May 2023 nor for the year ended 31 May 2022.
Trustees' expenses
Expenses reimbursed by Kriya Yoga UK Limited:
Trustee Dr Hagen Rampes had expenses reimbursed by the charity to the value of £5,309 (2022: £1,703) for charity expenses.Trustee Neeraj Mittra had expenses reimbursed by the charity to the value of £1,235 (2022: £723) for charity expenses.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
5.
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 94,985 |
| EXPENDITURE ON | |
| Charitable activities | |
| General | 46,607 |
| NET INCOME | 48,378 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 29,086 |
| TOTAL FUNDS CARRIED FORWARD | 77,464 |
| TANGIBLE FIXED ASSETS | |
| Computer | |
| equipment | |
| £ | |
| COST | |
| Additions | 998 |
| DEPRECIATION | |
| Charge for year | 250 |
| NET BOOK VALUE | |
| At 31 May 2023 | 748 |
| At 31 May 2022 | - |
continued...
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KRIYA YOGA UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2023
| 6. | STOCKS | |||
|---|---|---|---|---|
| 31.5.23 | 31.5.22 | |||
| £ | £ | |||
| Book stock | 6,149 | 5,092 | ||
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | ||
| 31.5.23 | 31.5.22 | |||
| £ | £ | |||
| Deferred income | 5,766 | - | ||
| Accrued expenses | 1,632 | 1,560 | ||
| 7,398 | 1,560 | |||
| 8. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.6.22 | in funds | 31.5.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 77,464 | (38,694) | 38,770 | |
| TOTAL FUNDS | 77,464 | (38,694) | 38,770 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 31,221 | (69,915) | (38,694) | |
| TOTAL FUNDS | 31,221 | (69,915) | (38,694) | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1.6.21 | in funds | 31.5.22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 29,086 | 48,378 | 77,464 | |
| TOTAL FUNDS | 29,086 | 48,378 | 77,464 |
continued...
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KRIYA YOGA UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2023
8. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 94,985 | (46,607) | 48,378 |
| TOTAL FUNDS | 94,985 | (46,607) | 48,378 |
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 May 2023.
Page 9
KRIYA YOGA UK
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2023
| 31.5.23 | 31.5.22 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 20,272 | 16,811 |
| Gift aid | - | 4,312 |
| Programme & BalashramTrek Income | 10,559 | 72,357 |
| Book sales | 390 | 1,505 |
| 31,221 | 94,985 | |
| Total incoming resources | 31,221 | 94,985 |
| EXPENDITURE | ||
| Charitable activities | ||
| Insurance | 269 | 269 |
| Telephone | 66 | 51 |
| Postage and stationery | 694 | 698 |
| Sundries | 1,659 | 387 |
| Venue and retreat Hire | 10,846 | 15,690 |
| Computer expenses | 1,615 | 426 |
| Prajnana Mission | 47,486 | 10,000 |
| Travel | 2,102 | 584 |
| Exchange rate | (1) | (4) |
| Book stock movement | (1,057) | (566) |
| BalashramTrek | 120 | 10,876 |
| Kriya Yoga, Netherlands | 2,586 | 4,218 |
| Kriya Yoga, Austria | - | 2,260 |
| Programme expenses | 1,554 | - |
| 67,939 | 44,889 | |
| Other | ||
| Computer equipment | 250 | - |
| Support costs | ||
| Finance | ||
| Bank charges | 22 | 158 |
| Governance costs | ||
| Accountancy fees | 1,704 | 1,560 |
| Total resources expended | 69,915 | 46,607 |
| Net (expenditure)/income | (38,694) | 48,378 |
This page does not form part of the statutory financial statements
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