Charity Registration No. 1125790
SRI VEL MURUGAN AALAYAM TRUST
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
SRI VEL MURUGAN AALAYAM TRUST CONTENTS
| Page | |
|---|---|
| Independent examiner's report | 1 |
| Income and expenditure accounts | 2 |
| Balance sheet | 3 |
| Notes to the account | 4 - 5 |
SRI VEL MURUGAN AALAYAM TRUST TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees present their annual report together with the financial statements and Independent examiner's report of the charity for the year ended 31st December 2022.
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.
Structure, Governance and Management
Thae charity is controlled by its governing document, a deed of trust and constitutes set by the charity commission.
Reference and Administrative Details
Registered charity number
1125790
The Trustees who served during the year
Mr. K Venayakamoorthy President Mr. S Mugunthan General Secretary Mr. R Thavendran Treasurer Mr. U Ponuthurai Trustee Mr. S Manickam Trustee
The trustees act as trustees for charitable activities of the organisation and are also members of the organisation.
Financial review
This year also the charity, with the aid of sound financial management and and support of its members and volunteers generated a satisfactory financial outcome with a net increase in funds.
Going Concern
The board of trustees has the reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.
Disclosure of information to auditors
Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the independent examiner is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and establish that independat examiner is aware of such information.
On behalf of the board of Trustees
Mr. S Mugunthan
General Secretary 31.10.2023
SRI VEL MURUGAN AALAYAM TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
We have examined the financial statements set out on pages 1 to 2 that have been prepared under the historical convention.
The trustees are responsible for preparing the financial statements, which give a true and fair view of the state of the organisation and are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the organisation.
In our opinion the financial statements give a true and fair view of the state of affairs of Sri Vel Murugan Aalayam Trust as at 31st December 2022 and of it's income and expenditure for the year in review.
A1 Accountancy 5a-7a St. James's Road Croydon CR0 2SB
Date: 31.10.2023
Page: 1
SRI VEL MURUGAN AALAYAM TRUST INCOME AND EXPENDITURE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022
| Income Donations receivable Grants receivables Expenditure Wages and locum salaries Direct charitable expenses Rent Rates Insurance Light & heat Repairs and maintenance Printing, postage and stationery Telephone/Advertising Motor & travel expenses Legal and professional fees Bank charges Catering & other miscellaneous expenses Interest payable Depreciation Net Income for the year |
2022 £ 180,253 180,253 9,300 62,416 24,800 1,121 986 584 6,301 2,343 627 1,737 14,355 19,312 10,650 154,532 25,721 |
2021 £ 149,490 4,500 |
|---|---|---|
| 153,990 | ||
| 16,965 54,411 500 374 1,894 3,415 3,385 119 554 3,975 2,194 911 6,694 18,569 10,945 |
||
| 124,905 | ||
| 29,085 |
Page: 2
SRI VEL MURUGAN AALAYAM TRUST BALANCE SHEET AS AT 31 DECEMBER 2022
| Notes Fixed Assets Tangible assets 2 Current Assets Bank current account Cash in hand Creditors: amounts falling due within one year Net current assets / (liabilities) Total assets less current liabilities Creditors: amounts falling due more than one year 3 Capital Account 4 |
2022 2021 £ £ £ £ 1,127,404 1,136,576 795 5,104 100 100 895 5,204 18,900 33,596 -18,005 -28,392 1,109,399 1,108,184 355,125 379,631 754,274 728,553 754,274 728,553 - |
2022 2021 £ £ £ £ 1,127,404 1,136,576 795 5,104 100 100 895 5,204 18,900 33,596 -18,005 -28,392 1,109,399 1,108,184 355,125 379,631 754,274 728,553 754,274 728,553 - |
|---|---|---|
| 1,108,184 379,631 |
||
| 728,553 | ||
| 728,553 | ||
Page: 3
SRI VEL MURUGAN AALAYAM TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting Policies
Basis of Preparation
The accounts have been prepared under the historical cost convention, in accordance with applicable accounting standards and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Equipment - 20% on written down value. Fixtures & fittings - 5% on written down value.
2 Fixed Assets
| Tangible Assets Cost At 1st January 2022 Addition At 31st December 2022 Depreciation At 1st January 2022 Charge for the year At 31st December 2022 Net book value At 31st December 2022 At 31st December 2021 |
Land & Fixtures Property Equipment & fittings Total £ £ £ 927,351 3,955 265,424 1,196,730 - - 1,478 1,478 |
|---|---|
| 927,351 3,955 266,902 1,198,208 |
|
| - 3,192 56,962 60,154 - 153 10,497 10,650 |
|
| - 3,345 67,459 70,804 |
|
| 927,351 610 199,443 1,127,404 |
|
| 927,351 763 208,462 1,136,576 |
Page : 4
SRI VEL MURUGAN AALAYAM TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022
| 3 Long Term Liabilities Bank loan Other loan 4 Capital Account Balance at 1st January 2022 Net income Revaluation reserve account Balance at 31st December 2022 |
2022 £ 79,475 275,650 355,125 728,553 25,721 - 754,274 |
2021 £ 94,517 285,114 |
|---|---|---|
| 379,631 | ||
| 699,468 29,085 - |
||
| 728,553 |
Page : 5