REGISTERED CHARITY NUMBER: 1125072
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
FOR
SWAMINARAYAN GURUKUL UK
SWAMINARAYAN GURUKUL UK
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Statement of Financial Position | 6 |
| Notes to the Financial Statements | 7 to 10 |
| Detailed Statement of Financial Activities | 11 |
SWAMINARAYAN GURUKUL UK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021
The trustees present their report with the financial statements of the charity for the year ended 31 August 2021. 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 2015).
SSGP is a Hindu organisation established as a charity under a Trust Deed dated 21st July 2008 and registered with the Charity Commission under registration number 1125072. The principal objective of the charity is the advancement of the Hindu faith amongst its followers and others with particular reference to the teachings and principles of Bhagwan Swaminarayan.
OBJECTIVES AND ACTIVITIES Objectives and aims Our Vision
To foster a spiritual, moral, tolerant and religious society and inspire the path of righteous living. The management committee aims to encourage young generation to participate in religious and cultural activities.
Aims and Objectives
To achieve this vision, SSGP's aims and objectives during the year were:
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To teach social, cultural, moral and traditional values to children, teenagers, youths and adults.
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To ensure that legislation and regulation is compiled in relation to the impact of change and burden of bureaucracy on charities.
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To raise standards by developing and promoting the best practice in the management of charities through training and information.
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To ensure SSGP remains a suitable organisation through fund raising activities.
Public benefit
The Trustees have carefully considered the public benefit requirements and their duty to ensure that they are compliant with them. They feel that the activities as detailed below, more than adequately satisfy the public benefit requirement:
- To teach social, cultural, moral and traditional values to children, teenagers, youths and adults.
Volunteers’ contribution in achieving the objectives of the Charity
SSGP enlists the services of more than 150 volunteers nationwide in delivering the aims and objectives of the Charity.
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The volunteers are organised through a framework involving National and Regional.
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Providing services in various departments including security, administration, congregation, organisation, kitchen, audio/video/photography, press & publicity, finance, youth & children activity, adult activity etc. - Organising regional assemblies.
The charity depends heavily upon the continuing support of devotees. We also thank all volunteers for the hard work during the year, particularly those working on Prasad preparations, car park duties, cleaning, organised special events, decorations, cultural programmes and other religious activities and pray that they continue to serve Shree Swaminarayan in the future.
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SWAMINARAYAN GURUKUL UK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2021
ACHIEVEMENT AND PERFORMANCE
Events during the year
The Charity continues to attract an increasing number of followers each year. This year was no exception, with many devotees and taking part in daily activities despite Covid 19 pandemic.
Annual Hindu festivals such as Maha Shivratri (celebration of Lord Shiva), Holi (celebration of the onset of Spring), Ramnavami and Shri Swaminarayan Jayanti (birth anniversaries of Lord Ram and Lord Swaminarayan), Janmashtami (birthday of Lord Krishna), RathYatra (procession of chariots), Diwali and Hindu New Year were celebrated by SSGP.
Due to Covid-19, there were no physical gatherings during the year. However, we organised monthly spiritual virtual online meetings via ZOOM throughout the year with different part of the cities in the UK. Devotees took part at their home in the virtual presence of senior priests from India. The assemblies consisted of inspiring speeches and thought-provoking group discussion to devote pride for the SSGP, to bring awareness of the dangers of misuse of social networking tools and to strengthen the relationship and attachment of Satsang
FINANCIAL REVIEW Financial position
Net surplus:
The net surplus/(deficit) for the charity for the period was £136,341 (2020: £33,131).
Charitable donations:
Donations paid to SGVP India during the year is £Nil (2020: £Nil). SGVP India is a charity registered in India.
Risk management and Investment policy
The trustees have assessed the major risks to which the charity is exposed, in particular those related to generating income.
The trustees have made no risk related investments. A formal review is undertaken regularly to ensure that all surplus funds are invested in bank and building society accounts at best rates of interest.
PLAN FOR FUTURE PERIODS
The charity plans to continue events and activities to achieve its aims.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1125072
Principal address
Unit 23 Office 1 Westmoreland Road Queensbury London NW9 9BW
Trustees
S K Vekaria N K B Raghvani H Patel R M Hirani G K Raghvani G L Patel
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SWAMINARAYAN GURUKUL UK
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2021
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
Bharat Kotak FCCA Alexanders UK Ltd Chartered Certified Accountants The Corner House 170 Albury Drive Hatch End Pinner Middlesex HA5 3RG
Bankers
Barclays Bank Plc PO Box 5858 1 Argent Court Southfields Business Park Basildon Essex SS15 6FF
RESPONSIBILITIES OF THE TRUSTEES
The charity's trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Approved by order of the board of trustees on 29 June 2022 and signed on its behalf by:
G L Patel - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SWAMINARAYAN GURUKUL UK
Independent examiner's report to the trustees of SWAMINARAYAN GURUKUL UK
I report to the charity trustees on my examination of the accounts of SWAMINARAYAN GURUKUL UK (the Trust) for the year ended 31 August 2021.
Responsibilities and basis of report
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Bharat Kotak FCCA Alexanders UK Ltd Chartered Certified Accountants The Corner House 170 Albury Drive Hatch End Pinner Middlesex HA5 3RG
Date: .............................................
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SWAMINARAYAN GURUKUL UK
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 159,187 Investment income 2 Total 159,187 EXPENDITURE ON Charitable activities Unrestricted funds 35 Charitable activity 22,811 Total 22,846 NET INCOME 136,341 RECONCILIATION OF FUNDS Total funds brought forward 706,232 TOTAL FUNDS CARRIED FORWARD 842,573 |
2020 Total funds £ 71,763 140 71,903 35 38,737 38,772 33,131 673,101 706,232 |
|---|---|
The notes form part of these financial statements
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SWAMINARAYAN GURUKUL UK
STATEMENT OF FINANCIAL POSITION
31 AUGUST 2021
| 2021 Unrestricted fund Notes £ CURRENT ASSETS Debtors 6 26,862 Cash at bank 815,711 842,573 CREDITORS Amounts falling due within one year 7 - NET CURRENT ASSETS 842,573 TOTAL ASSETS LESS CURRENT LIABILITIES 842,573 NET ASSETS 842,573 FUNDS 8 Unrestricted funds 842,573 TOTAL FUNDS 842,573 |
2020 Total funds £ 1,200 705,032 706,232 - 706,232 706,232 706,232 706,232 706,232 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 29 June 2022 and were signed on its behalf by:
R M Hirani - Trustee
G L Patel - Trustee
The notes form part of these financial statements
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SWAMINARAYAN GURUKUL UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
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.
Taxation
The charity is exempt from 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.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
2. INVESTMENT INCOME
| INVESTMENT INCOME | |||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Other interest | - | 140 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020.
Trustees' expenses
There were no trustees’ expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020.
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continued...
SWAMINARAYAN GURUKUL UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2021
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 71,763 |
| Investment income | 140 |
| Total | 71,903 |
| EXPENDITURE ON | |
| Charitable activities | |
| Unrestricted funds | 35 |
| Charitable activity | 38,737 |
| NET INCOME | 33,131 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 673,101 |
| TOTAL FUNDS CARRIED FORWARD | 706,232 |
5. STAFF COSTS AND EMOLUMENTS
| No salaries or wages have been paid to employees, including the | members of the committee, during | members of the committee, during | the year. | |
|---|---|---|---|---|
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Event cost deposit | - | 1,200 | ||
| Gift aid receivable | 26,862 | - | ||
| 26,862 | 1,200 | |||
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Event cost accruals | - | - | ||
| 8. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1/9/20 | in funds |
31/8/21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 706,232 | 136,341 | 842,573 | |
| TOTAL FUNDS | 706,232 | 136,341 | 842,573 |
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SWAMINARAYAN GURUKUL UK
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2021
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 159,187 159,187 |
Resources Movement expended in funds £ £ (22,846) 136,341 (22,846) 136,341 |
|---|---|---|
Comparatives for movement in funds
| At 1/9/19 £ Unrestricted funds General fund 673,102 TOTAL FUNDS 673,102 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 71,903 TOTAL FUNDS 71,903 A current year 12 months and prior year 12 months combined position is as follows: At 1/9/20 £ Unrestricted funds General fund 706,232 TOTAL FUNDS 706,232 |
Net movement At in funds 31/8/20 £ £ 33,131 706,232 33,131 706,232 Resources Movement expended in funds £ £ (38,772) 33,131 (38,772) 33,131 Net movement At in funds 31/8/21 £ £ 136,341 842,573 136,341 842,573 |
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 231,089 231,089 |
Resources Movement expended in funds £ £ (61,618) 169,471 (61,618) 169,471 |
|---|---|---|
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SWAMINARAYAN GURUKUL UK
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2021
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2021.
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SWAMINARAYAN GURUKUL UK
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 2021
| INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Investment income Other interest Total incoming resources EXPENDITURE Charitable activities Charitable donations Courier and carriage Event costs Advertising and PR Bank charges Legal & professional Total resources expended Net income |
31/8/21 £ 132,235 26,862 159,187 - 159,187 - 15,500 5,485 1586 240 35 22,846 22,846 136,341 |
31/8/20 £ 60,648 11,115 71,763 140 71,903 - - 38,634 - 103 35 38,772 38,772 33,131 |
|---|---|---|
This page does not form part of the statutory financial statements
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