REGISTERED CHARITY NUMBER: 1122581 (England and Wales)
Report of the Trustees and Financial Statements for the Year Ended 31 March 2023 for Shree Gujrati Hindu Centre Shree Krishna Temple
Sharman Fielding Chartered Accountants The Oval 57 New Walk Leicester Leicestershire LE1 7EA
Shree Gujrati Hindu Centre Shree Krishna Temple
Contents of the Financial Statements for the Year Ended 31 March 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 8 |
| Detailed Statement of Financial Activities | 9 to 10 |
Shree Gujrati Hindu Centre Shree Krishna Temple
Report of the Trustees for the Year Ended 31 March 2023
The trustees hereby present their report with the financial statements of the charity for the year ended 31 March 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1122581
Registered office
Hope Street Off Churchfield Street Dudley West Midlands DY2 8RS
The Charity is bound by the following governing documents:
-
The Charity’s Constitution (as an unincorporated association) adopted on 28 August 2005 and further amended on 22 May 2011.
-
Charity law and relevant legislation
Trustees
Amrat H Patel Geeta K Patel Jayantilal G Patel Balwantbhai H Patel Hasmukhbhai S Patel Kantilal C Patel Bharti Griffiths Ila J Patel Kantilal T Patel
Minaben K Patel Rakesh H Patel Vijay J Patel
PRINCIPAL ACTIVITY
The objectives and main activities of the charity continue to be:
- 1) To advance Hindu religion, culture and education 2) To promote charitable purpose and raise funds
Independent Examiner
Ashok R Patel BSc. ACA CTA Sharman Fielding Chartered Accountants The Oval, 57 New Walk Leicester Leicestershire LE1 7EA
Charity Bankers Lloyds Band 63 High Street Dudley West Midlands DY1 1PY
Page 1
Shree Gujrati Hindu Centre Shree Krishna Temple
Report of the Trustees for the Year Ended 31 March 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity became a registered charity on 4 February 2008. The organisation is governed by the members of the council who are appointed as prescribed by the bye-laws. Trustees are elected in accordance with the constitution.
Trustees are recruited for their service to the Charity or their skills in the areas of the charity's principal activities. Trustees are elected for a term of one year and are eligible for re-election, except for the three holding Trustees who serve a term of six years and have to be life members of the charity. Trustees are sought in a variety of ways involving exploration of the field of potential candidates, including recommendation from existing Trustees and supporting Members. Potential trustees are scrutinised by nominations.
All new trustees undergo a structured introduction to the operations of the charity. Trustees meetings are held monthly to review and agree major areas of policy. The responsibility for reviewing key areas of activity and policy are delegated to members of the board.
RESERVES POLICY
The trustees have reviewed the reserves of the Charity. The unrestricted reserves at the end of the financial year were £481,462.
RISK MANAGEMENT
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees have examined the principal areas of the Charity's operations and consider the major risks which may arise in each of these areas. In the opinion of the trustees, the Charity has established resources and reviewed systems which, under normal circumstances, should allow the risks to be identified by them to be mitigated to an acceptable level in its day-to-day operations
PUBLIC BENEFIT STATEMENT
The trustees have considered the guidance on public benefit published by the Commission and are satisfied that they have complied with the guidance when exercising their powers or duties during the year.
ON BEHALF OF THE BOARD :
............................................. Chairman- Mina K Patel Date: 29[th] January 2024
Page 2
Independent Examiner's Report to the Trustees of Shree Gujrati Hindu Centre Shree Krishna Temple
I report on the accounts for the year ended 31 March 2023 set out on pages four to eight.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under Section 145 of the 2011 Act
-
to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
-
to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that, in any material respect, the requirements
-
to keep accounting records in accordance with Section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records, comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
ASHOK PATEL BSc. ACA CTA
Institute of Chartered Accountants in England & Wales
Sharman Fielding Chartered Accountants
The Oval
57 New Walk
Leicester Leicestershire LE1 7EA
Date: 29[th] January 2024
Page 3
Shree Gujrati Hindu Centre Shree Krishna Temple
Statement of Financial Activities
for the Year Ended 31 March 2023
| 31.3.23 | 31.3.22 |
||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Notes | £ |
£ |
£ |
£ |
|
| INCOMING RESOURCES | |||||
| Incoming resources from | |||||
| generated funds | |||||
| Voluntary income | 11,585 | - |
11,585 | 33,461 | |
| Activities for generating funds | 27,922 | - |
27,922 | 15,822 | |
| Investment income | 2 |
899 | - |
899 | 173 |
| Other incoming resources | 13,827 | - |
13,827 | 9,489 | |
| Total incoming resources | 54,233 | - |
54,233 | 58,946 | |
RESOURCES EXPENDED |
|||||
| Costs of generating funds | |||||
| Costs of generating voluntary | 18,078 |
- | 18,078 | 14,144 | |
| income | |||||
| Governance costs | - |
- |
- | - | |
| Other resources expended | 6,931 |
- |
6,931 | 52,519 | |
| Total resources expended |
25,009 |
- |
25,009 |
66,661 |
|
NET INCOMING/ |
|||||
| (OUTGOING) RESOURCES | 29,224 |
- |
29,224 | (7,715) | |
RECONCILIATION OF |
|||||
| FUNDS | |||||
Total funds brought forward |
452,238 | - | 452,238 | 459,953 | |
| TOTAL FUNDS CARRIED | |||||
| FORWARD | 481,462 |
- | 481,462 | 452,238 |
Page 4
Shree Gujrati Hindu Centre Shree Krishna Temple
Note FIXED ASSETS Tangible assets Investments 4 CURRENT ASSETS Cash at Bank & In Hand CURRENT LIABILITIES Other Creditors NET CURRENT ASSETS NET ASSETS FUNDS Unrestricted |
Balance Sheet At 31 March 2023 2023 £ £ 369,426 69,713 439,139 42,323 42,323 - - 42,323 481,462 481,462 481,462 |
2022 £ 14,327 14,327 600 600 |
£ 369,682 68,829 438,511 13,727 452,238 452,238 452,238 |
|
|---|---|---|---|---|
| £ |
||||
The financial statements were approved by the Board of Trustees on 29[th] January 2024 and were signed on its behalf by:
............................................. Chairman- Mina K Patel
Page 5
Shree Gujrati Hindu Centre Shree Krishna Temple
Notes to the Financial Statements for the Year Ended 31 March 2023
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
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.
-
Utensils are being depreciated at the rate of 25% on a reducing balance basis
-
Fixtures & fittings are being depreciated at the rate of 25% on a reducing balance basis
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.
2. INVESTMENT INCOME
| Deposit account interest All Investment income is expended for charitable purposes. |
31.3.23 £ 899 899 |
31.3.22 £ 173 |
|---|---|---|
173 |
||
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Page 6
Shree Gujrati Hindu Centre Shree Krishna Temple
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
4. TANGIBLE FIXED ASSETS Land and buildings £ COST At 1 April 2022 and 31 March 2023 355,000.00 DEPRECIATION At 1 April 2022 Charge for the year At 31 March 2023 0.00 0.00 0.00 NET BOOK VALUE At 31 March 2023 At 31 March 2022 355,000.00 355,000.00 |
Jewellery Utensils Fixtures & Fittings £ £ £ 13,659.00 5,000.00 23,357.00 0.00 0.00 0.00 4,984.00 4.00 4,987.00 22,350.00 252.00 22,602.00 13,659.00 13,659.00 13.00 16.00 755.00 1,007.00 |
Total £ 397,016.00 27,334.00 256.00 27,590.00 369,426.00 369,682.00 |
|---|---|---|
Page 7
Shree Gujrati Hindu Centre Shree Krishna Temple
Detailed Statement of Financial Activities
for the Year Ended 31 March 2023
INCOMING RESOURCES Voluntary income General Donations Donation Box Building repairs Donations Hall Donation Wedding Donation Activities for generating funds Shiv Yagan Janmaashtami (Athem) Granpati Choth Navaratri Mahotsav Diwali New Year Jalarem Jayanti Dhatt Jayanti Patotsav Gayantri Yagna Hanuman Jayanti Mahashivrati Ram Navmi Sharad Bhajan Satasang Satynarayan Katha Shiv Katha Tulsi Vivah Kanyadan Sarad Poonam Investment income Deposit account interest Other incoming resources Government Grants Rental Income Total incoming resources |
31.3.23 £ 1,400 3,840 2,375 700 3,270 11,585 5,916 1,227 3,100 2,502 1,500 1,526 716 1,529 859 963 307 470 526 20 6,475 237 49 27,922 899 899 6,627 7,200 13,827 54,233 |
31.3.22 £ 3,199 4,368 25,541 353 - 33,461 1,226 223 2,335 2,208 912 1,629 990 753 895 978 824 400 744 1,705 - - - 15,822 173 173 3,889 5,600 |
|
|---|---|---|---|
| 9,489 | |||
| 58,946 |
Page 8
Shree Gujrati Hindu Centre Shree Krishna Temple Detailed Statement of Financial Activities
for the Year Ended 31 March 2023
| RESOURCES EXPENDED Costs of generating voluntary income Water Insurance Light and heat Telephone Post and Stationery Sundries Priest costs Religious activities 33 Helier Street Depreciation Governance costs Accountancy costs Support costs Repairs and renewals Alarm System and maintenance Renovations Total resources expended Net (expenditure)/income |
31.3.23 £ 450 1,469 3,020 793 - 6 6,874 5,185 25 256 18,078 - 1,980 1,067 3,884 6,931 25,009 29,224 |
31.3.22 £ 356 1,400 3,320 668 245 928 4,000 1,945 941 341 14,144 - 11,586 3,010 37,923 52,519 66,661 (7,715) |
|---|---|---|
Page 9