Registered Charity number 1125072 Swaminarayan Gurukul UK Report of the Trustees and Unaudited Financial Statements For the year ended 31 August 2024
Swaminarayan Gurukul UK Report and aceounts Contents Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Statement of Financial Position Detailed Statement of Financial Activities 8-10
Swaminarayan Gurukul UK Report of the Trustees for the year ended 31 August 2024 The trustees present their report with financial statements of the chaTity for the year ended 31 August 2024. 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 l January 2015). SSGP is a Hindu organisation established as a charity under a Trust Deed dated 2 Ist 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 Our vision To foster a spiritual, moral, tolerant and Teligious 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: To teach social, cultural. mordl and traditional values to children, teenagers, youths and adults. To ensure that legislation and regulation is compiled in relation to the impact of change and burden of bureaucracy on chariti¢s. To raise standards by developing and promoting the best practice in the management of charities through training and infomation 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 tbey gre compliant with thcin. They feel that the activities as detailed below, more than adequately satisfy the public benefit requirement To teach social, cultural, moral and ttaditional values to children, 1eenars, youths and adults.
Swaminarayan Gurukul UK Report of the Trustees for the year ended 31 August 2024 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. The volunteers are organised through a framework involving National and Regional. Providing services in various departments including security, administration, congregation, organisation, kitchen, audiolvideolphotography, 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, ¢leaning, organised special events, decorations, cultural programmes and other religious activities and pray that they continue to serve Shree Swaminarayan in the future. ACHIEVEMENT AND PERFORMANCE Events during the year The CharTty continues to attract an increasing number of followers each year. This year was no exception, with many devotees and taking part in daily activities. 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 Swaminardyan), Janmashtami (birthday of Lord Krishna), Rathyatra (procession of chariots), Diwali 4nd Hindu New Year were celebrated by SSGP. In addition, the following events wer¢ held throughout the year. Satsang Seminars at Bolton, Cardiff. East London, Kenton and Neasden North London. A Hindu Lifestyle Seminar (Shree Bhagwat Katha) was held between 31 st July to 4th August 2024 at Kingsbury, London. Hundreds of devotees took part from all over the UK in the presence of senior priests from India over these event days. The themes were based on Hindu tradition. Also, a Youth Camp was held at the same place and time where around 60 to 70 children participated. FINANCIAL REVIEW Financial position Net surplus: The net surplus/{deficit) for the charity for the period was £174,642 (2023: £23.852).
Swaminarayan Gurukul UK Report of the Trustees for th¢ year ended 31 August 2024 Charitable donations: Donations paid to SGVP India and oth¢r UK charities during the year is £50,500 (2023: £167,500). 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 gen¢rating income. Th¢ trustees have made no risk related investments. A fonnal 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 I Westmoreland Road London NW9 9B W Trustees S K Vekaria N K B Raghvani H Patel R M Hirani G K Raghvani G L Patel
Swaminarayan Gurukul UK Report of the Trustees for the year ended 31 August 2024 REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Suresh Hirani FCCA Hirani Associates Ltd Chartered Certified Accountants 21 Sherborne Gargens London NW9 9TE Bankers Barclays Bank PIC PO Box 5858 l 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). This report was approved by the board of trustees on 3 2fand signed on its behalf. G L Patel - Trustee
Swaminarayan Gurukul UK Independent examiner's report to the trusteess on the unaudited eharity accounts of Swaminarayan Gurukul UK for the year ended 31 August 2024 I report to the charity trustees on my examination of the accounts of Swaminarayan Gurukul UK for the year ended 31 August 2024 . 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 thc Act. Independent examiner's statement I havc completed my examination. I confirni that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Trust as required by section 130 of th¢ Act. or 2. the accounts do not accord with those records. or the accounts do not comply with the applicable requirements concerning the forni 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. Hirani & Co Chartered Certified Accountants 21 Sherborne Gardens London NW9 9TE
Swaminarayan Gurukul UK Statement of financial activities for the year ended 31 August 2024 2024 Unrestricted fund 2023 Total funds Incomin resources Income and endowmenlsfrom." Donations and legacies Total incoming resources 250,518 250,518 243,828 243,828 Resources ex ended Expenditure on.. Charitable activities Other administrative expenses Total resources expended 75,876 219,941 35 75,876 219,976 Net income 174,642 23,852 Reconciliation of funds Total funds brought fonvard Total funds carried fonvard 904,381 880,529 1,079,023 904,381
Swaminarayan Gurukul UK Statement of financial position as at 31 August 2024 Notes 2024 2023 Fixed assets Investments Current assets Debtors Cash at bank and in hand 674,999 404,023 1,079,022 714,356 190,024 904,380 Net current assets 1,079,022 904,380 Net assets 1,079,023 904.381 Funds of the Charity unStrICted funds 1,079,023 904,381 Total funds 1,079,023 904,381 R M Hirani - Trust¢¢ G L Patel - Trustee Approved by the board of trustees on
Swamillarayan Gunlkul UK Notes to the Accounts for the year ended 31 August 2024 l Aecounting polieies BILSIS ofpreparalion The financial statements of the Charity, which is a public benefit entity under FRS 102, have been prepar¢d in accordance with the Charities SORP (FRS 102) 'A¢counting 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 1021 (effective l January 2015),, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charilies 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 and it is probable that the income will be received and the amount Can be measured reliably Erpendilure Liabilities are recogni8ed 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 b¢ required in settlement and the amounL'of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified'mnder headings that aggregate all cost related to the category. Where costs cannot be directly attributed to pa4ticular headings, they have been allocated to activities on a basis consistent with the use of resources. TatIon The charity is exempt from tax on its charitable activities Fund accounting Unrestricted funds can be used in aOrdance 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. Reslrictions arise when specified by the donor or when funds are raised for particular reslrirted purposes. Further explanation of the nature and pu0$¢ of each fund is included in the notes to the financial statements. Foreign currency Iranslalion Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange rul¢ng at the date of transaction. Exchange differences are taken into account in arriving.at the operating result.
SwaminArayan Gurukul UK Notes to the Accounts for the year ended 31 August 2024 2 RemuneratÉon and benefits There were no trustees, expense payments. remuneration or other benefits in the year. (2023 - Nil) No salaries or wages have been paid to employees, including the members of the committee. during the year. 3 Comparativ¢$ for the statemellt of financial aetivities Unrestricted fund Ineome and endowments from: Donations and legacies 243,828 243,828 Expenditure on: Charitable activities Other administrative expenses N¢t Income 219,941 35 23,852 Retonciliation of funds Total funds brought fOard Total funds carried fonvard 880,529 904,381 4 Inv¢stments Other investments Cost At I September 2023 At 31 August 2024 In June 2023, the charity acquired all the shares in Swaminarayan Gurukul UK Ltd, a company registerd in England and Wales. The purpose of the share a¢quisition was to use the company as a vehicle to invest surplus trust funds in propcrtics and related invcstm¢nts.
Swaminarayan Gurukul UK Notes to the Accounts for the year ended 31 August 2024 5 Debtors 2024 2023 Amounts owed by wholly owned undertakings. Gift aid receivable 674.999 674,999 39,357 714,356 674,999 Debtors include loan of £674,999 to Swaminarayan Gurukul UK Ltd to Invest in properties and related investments. The company is wholly owned by the charity. 6 Movement in funds At 119122 rviovement At 3118123 Unrestricted funds General fund 904,381 174,642 1,079,023 Total thnds 904,381 174,642 1,079,023 10
Swaminarayan Gurukul UK Detailed statement of financial activities for the year ended 31 August 2024 2024 2023 Income and endoivments from: Donations and legacies Gift aid 219,723 30,795 250,518 204,471 39,357 243,828 Investment income Other interest Total ineoming resource5 250,518 243,828 Expenditure Charitable donations Event costs Bank charges Legal and professional Total resources expended 50,500 25,014 362 167,500 52,079 362 35 75,876 219,976