**Charity Registration No. 1125790** # **SRI VEL MURUGAN AALAYAM TRUST** # **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** ## **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 2023** 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 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. ## **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 28.10.2024 **SRI VEL MURUGAN AALAYAM TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023** 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 2023 and of it's income and expenditure for the year in review. **A1 Accountancy** 5a-7a St. James's Road Croydon CR0 2SB Date: 28.10.2024 **Page: 1** ## **SRI VEL MURUGAN AALAYAM TRUST INCOME AND EXPENDITURE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023** |**Income**
Donations receivable
**Expenditure**
Wages and locum salaries
Direct charitable expenses
Rent
Rates
Insurance
Light & heat
Cleaning
Repairs and maintenance
Printing, postage and stationery
Telephone/Advertising
Motor & travel expenses
Bank charges
Catering & other miscellaneous expenses
Interest payable
Depreciation
**Net Income for the year**|**2023**
**£**
160,520
**160,520**
10,200
45,931
36,700
1,158
5,200
2,518
806
78
3,925
681
1,525
255
1,182
14,031
10,082
**134,272**
**26,248**|**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**| ## **Page: 2** 25721 ## **SRI VEL MURUGAN AALAYAM TRUST BALANCE SHEET AS AT 31 DECEMBER 2023** |**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**|**2023**
**2022**
**£**
**£**
**£**
**£**
1,117,322
1,127,404
-
795
100
100
100
895
20,136
18,900
-20,036
-18,005
1,097,286
1,109,399
316,764
355,125
**780,522**
**754,274**
**780,522**
**754,274**
-|**2023**
**2022**
**£**
**£**
**£**
**£**
1,117,322
1,127,404
-
795
100
100
100
895
20,136
18,900
-20,036
-18,005
1,097,286
1,109,399
316,764
355,125
**780,522**
**754,274**
**780,522**
**754,274**
-| |---|---|---| |||| |||1,109,399
355,125| |||**754,274**| |||| |||**754,274**| |||| **Page: 3** ## **SRI VEL MURUGAN AALAYAM TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023** ## **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 2023
Addition
At 31st December 2023
**Depreciation**
At 1st January 2023
Charge for the year
At 31st December 2023
**Net book value**
At 31st December 2023
At 31st December 2022|**Land &**
**Fixtures**
**Property**
**Equipment**
**& fittings**
**Total**
**£**
**£**
**£**
927,351
3,955
266,902
1,198,208
-
-
-
-| |---|---| ||927,351
3,955
266,902
1,198,208| ||-
3,345
67,459
70,804
-
110
9,972
10,082| ||-
3,455
77,431
80,886| ||927,351
500
189,471
1,117,322| ||927,351
610
199,443
1,127,404| **Page : 4** ## **SRI VEL MURUGAN AALAYAM TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023** |**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**|**2023**
**£**
33,574
283,190
**316,764**
754,274
26,248
-
**780,522**|**2022**
**£**
79,475
275,650| |---|---|---| |||**355,125**| |||728,553
25,721
-| |||**754,274**| **Page : 5**