REGISTERED COMPANY NUMBER: 06787661 (England and Wales) REGISTERED CHARITY NUMBER: 1127527
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 March 2024
for
Shree Prajapati Association Leicester
Sharman Fielding Chartered Accountants The Oval 57 New Walk Leicester Leicestershire LE1 7EA
Shree Prajapati Association Leicester
Contents of the Financial Statements for the Year Ended 31 March 2024
||Page|
|---|---|
|Report of the Trustees|1 to 4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7 to 8|
|Notes to the Financial Statements|9 to 14|
|Detailed Statement of Financial Activities|15 to 16|
Shree Prajapati Association Leicester
Report of the Trustees for the Year Ended 31 March 2024
Thetrusteeswho arealsodirectorsof thecharityfor thepurposesof theCompaniesAct 2006,presenttheir report with the financial statementsof the charity for the yearended31 March 2024.The trusteeshaveadoptedthe provisions of Accountingand Reportingby Charities:Statementof RecommendedPracticeapplicableto charitiespreparing their accountsin accordancewith theFinancialReportingStandardapplicablein theUK andRepublicof Ireland(FRS 102) (effective 1 January 2019).
## OBJECTIVES AND ACTIVITIES
## Objectives and aims
The objectsof the Associationarethe advancementof the Hindu religion andeducationparticularlyin Hindu culture and the relief of poverty and sicknessamongthe PrajapatiCommunityin United Kingdom and in other partsof the world.
Association'sactivitiesincludeorganisingreligious,sporting,educationalandsocialprogrammesthroughoutthe year. These are summarised in Note 2 of the accounts. Most of these activities are arranged at the property of the Association.
Some events are also open to the wider community.
The Associationdoesnot haveformal policiesandproceduresfor the inductionandtrainingof the trustees. However, the trusteedoesencouragemembersto comeforward andlearnthe operationalprocedureof the Associationand also recommendall membersof the committeeto attendcoursesand seminars.From time to time coursesare offered to memberswho help with the day to day managementof the organisationand running of the centreowned by the Association.
## Volunteers
The Associationwishesto thankits membersfor their valuablesupportat eventsboth in termsof attendanceand the voluntary help received in preparing and organising events throughout the year.
Volunteersand members have worked very hard during the year. Apart from thesesomeother membersof the Associationhavealsoregularlygivenvoluntaryservicesto theAssociation.It is verydifficult to giveanexact monetary value of these services but at the current minimum rate, it will be estimated in excess of £90000
## ACHIEVEMENT AND PERFORMANCE
## Review of progress and achievements
The Associationplaysanimportantpart in involving membersin its religiousandsocialactivities.The mainaim is to bring people together to preserveour heritage,culture and traditions. The Associationis not a religious body, nevertheless,it celebratesall the importantHindu religious festivalsduring the year and the financial and the moral contribution from members is quite overwhelming.
In social activities the emphasisis put on healthyliving and learning.The Associationaimsto organiseat least two healtheducationaleventsin partnershipwith SPA UK, other agencies.Regularactivities include keep-fit and yoga classes, sports and educational courses in conjunction with the training institutions.
SocialactivitiesincludeMahila (Ladies),SeniorCitizensSamelanandvisits to interestingplacesandsocial gatherings, health awarenessdays and social problemsin the community.All theseactivities are very popular amongst the membership.
Last year the AssociationhasintroducedSeniorslunch club to promotewellbeing amongstthe elderly members by providing light activity and meal, which is going stronger and stronger.
## Refurbishment of the premises
During thecurrentfinancialyeartherefurbishmentof themainHall roof andreplacementof all doorsin themain hall has been completed
Page 1
Shree Prajapati Association Leicester
## Report of the Trustees for the Year Ended 31 March 2024
## ACHIEVEMENT AND PERFORMANCE
## Demonstrating public benefit
Public benefit can be demonstrated as below:
TheTrusteesensurethatthefundsgeneratedareonly usedfor activitiesandrefurbishmentprogrammesthatwill benefit the members. The activities detailed in the account reflect this
## FINANCIAL REVIEW
## Principal funding sources
The principal fundingof theAssociationis generatedfrom its normalactivitiesandletting of thepremiseson hire and the useof car parking facility.. The attachedstatementsshow the currentstateof affairs of the finances,which the trustees consider to be sound and adequate.
## Investment policy and objectives
TheConstitutiongivestheTrusteesinvestmentpowersof theTrusteeInvestmentAct 1961.TheTrusteeshave managed thefundsthemselvesandhavenot delegatedtheir discretion. All thefundsareinvestedin short-termdepositswith the Banks or the Building Society and are readily available and producing market rates of return.
## Reserves policy
The reserves of the Association are shown in the attached accounts.
The unrestrictedgeneralfund at 31stMarch 2024standsat £273,867.The Trusteesfeel thatit hasto carry substantial reserves to meet the cost of fulfilling following objectives:
- (1) The annual cost of activities in furtherance of its objects,
- (2) The cost of educational needs of the community,
- (3) The cost of relieving poverty and distress in the community,
- (4) Maintenance and upkeep of the cost of cyclical repairs.
## Charitable donations
The Associationhavethis yearraisedmoneythroughvariouseventsanddonatedto charitiesandinstitutions,such as NHS for CPAP, Endometriosis, DGPHCT and raising funds for Diwali Basket Brigade.
## STRUCTURE, GOVERNANCE AND MANAGEMENT
The Association was established in 1975.
The New CompanyShreePrajapatiAssociationLeicestercameinto operationon 1st April 2009.TheCompany is limited by Guarantee,registrationnumber6787661and is also registeredwith the CharitiesCommissionas a new charity reg 1127527
The Association is governed in accordance with a Memorandum of Article (M.O.A), a copy available on request. The Associationis affiliated to and acts in conjunctionwith ShreePrajapatiAssociation(UK) - H.Q. which is an umbrella group for fourteen organisations, scattered in cities around England.
## REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number 06787661 (England and Wales)
Registered Charity number 1127527
Registered office Ulverscroft Road Leicester Leicestershire LE4 6BY
Page 2
Shree Prajapati Association Leicester
## Report of the Trustees for the Year Ended 31 March 2024
|Trustees||
|---|---|
|Kantilal D. Mistry|President|
|Nileshbhai D. Mistry|Vice President|
|Vinodbhai G.Mistry|Secretary|
|Kalpnaben C. Mistry|Vice Secretary|
|Balwant Mistry|Treasurer|
|Mina Mistry|Mahila|
|Savitaben K.Mistry|Religious|
|Hetal Mistry|Social Health and Education|
|Neal B. Mistry|Youth|
|Akshay Daiabhai Prajapati|Facilities|
|Rameshbhai I Mistry|Governance|
The Board consists of 11 members as detailed above. Each having a portfolio to manage and be accountable for.
UnderthenewM.O.A, theTrusteeshavetheoption to remainin thepostfor up to 3 yearsandalsohavetheoption to retire at the end of the first 12 months,if they so wish. The Trusteesare electedon an annualbasisat an Annual General Meeting of the members.
Elected Trustees carry out the day-to-day management of the Association.
Board Meetingsare held once a month and membersmeetingare held quarterly and open to all members. Policy decisions are debated at board level and then put forward at members meeting for information(in line with M.O.A.).
All thosewhoattendour functionsandfall within our membershipcriteriaareencouragedto becomemembersto enable them to be elected to the Board in the future if they so wish.
The boardalsohavea trusteededicatedto governanceandensurethattheboardactwithin theguidelinesof the MOA and are kept up to date with changes in legislation from both the Companies' house and The Charity Commission.
Membersare regularly kept informed of the activities of the Associationthroughquarterly membersmeetings and through weekly activities held on site, Social Media and Newsletters..
Company Secretary Mr V Mistry
Independent Examiner Ashok Patel ACA Sharman Fielding Chartered Accountants The Oval 57 New Walk Leicester Leicestershire LE1 7EA
Bankers Santander UK Bridle Road Bootle Merseyside
Approved by order of the board of trustees on 9 June 2024 and signed on its behalf by:
Page 3
Shree Prajapati Association Leicester
Report of the Trustees for the Year Ended 31 March 2024
Mr K D Mistry - Trustee
Page 4
Independent Examiner's Report to the Trustees of Shree Prajapati Association Leicester
## Independent examiner's report to the trustees of Shree Prajapati Association Leicester ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
## Responsibilities and basis of report
As thecharity'strusteesof theCompany(andalsoits directorsfor thepurposesof companylaw) youareresponsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Havingsatisfiedmyselfthattheaccountsof theCompanyarenot requiredto beauditedunderPart16 of the2006 Act andareeligible for independentexamination,I reportin respectof my examinationof your charity'saccountsas carried out underSection145 of the CharitiesAct 2011('the2011Act'). In carryingout my examinationI havefollowed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## Independent examiner's statement
Sinceyour charity'sgrossincomeexceeded£250,000your examinermustbea memberof a listedbody.I can confirm that I am qualified to undertakethe examinationbecauseI am a memberof the Instituteof CharteredAccountants in England and Wales, which is one of the listed bodies.
I have completedmy examination.I confirm that no mattershave come to my attention in connectionwith the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accountsdo not comply with the accountingrequirementsof Section396 of the 2006 Act other than any requiremen **t** hattheaccountsgiveatrueandfair view whichis notamatterconsideredaspartof an independent examination; or
4. the accountshave not been preparedin accordancewith the methodsand principles of the Statement of RecommendedPracticefor accountingandreportingby charities(applicableto charitiespreparingtheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I haveno concernsandhavecomeacrossno othermattersin connectionwith theexaminationto whichattention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Ashok Patel ACA The Institute of Chartered Accountants in England and Wales
Sharman Fielding Chartered Accountants The Oval 57 New Walk Leicester Leicestershire LE1 7EA
9 June 2024
Page 5
Shree Prajapati Association Leicester
## Statement of Financial Activities
## for the Year Ended 31 March 2024
|Notes
Income and endowments from
Donations and legacies
Other activities
2
Investment income
3
Total
Expenditure on
Raising funds
4
Charitable activities
Sporting activities
Social activities training
Social activities
Donations
Religious activities
Other
Total
NET INCOME/(EXPENDITURE)
Reconciliation of funds
Total funds brought forward
Total funds carried forward|31.3.24
Unrestricted
funds
£
21,621
93,329
167,884
282,834
160,402
5,434
2,818
31,272
7,283
16,815
37,211
261,235
21,599
2,482,604
2,504,203|31.3.23
Total
funds
£
19,365
58,966
102,810
181,141
171,568
3,035
2,204
5,323
4,114
9,476
37,269
232,989
(51,848)
2,534,452
2,482,604|
|---|---|---|
The notes form part of these financial statements
Page 6
Shree Prajapati Association Leicester
## Balance Sheet 31 March 2024
|Notes
Fixed assets
Tangible assets
8
Investments
9
Current assets
Debtors
10
Cash at bank and in hand
Creditors
Amounts falling due within one year
11
Net current assets
Total assets less current liabilities
Creditors
Amounts falling due after more than one year 12
NET ASSETS
Funds
13
Unrestricted funds
Total funds|31.3.24
Unrestricted
funds
£
2,350,000
1
2,350,001
17,031
236,564
253,595
(92,213)
161,382
2,511,383
(7,180)
2,504,203
2,504,203
2,504,203|31.3.23
Total
funds
£
2,375,000
1
2,375,001
4,491
273,220
277,711
(163,156)
114,555
2,489,556
(6,952)
2,482,604
2,482,604
2,482,604|
|---|---|---|
Thecharitablecompanyis entitledto exemptionfrom auditunderSection477 of theCompaniesAct 2006for the year ended 31 March 2024.
The membershave not required the companyto obtain an audit of its financial statementsfor the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuringthat the charitablecompanykeepsaccountingrecordsthat comply with Sections386 and387 of the Companies Act 2006 and
- (b) preparingfinancialstatementswhichgive a trueandfair view of thestateof affairsof thecharitablecompany as at the end of eachfinancial year and of its surplusor deficit for eachfinancial year in accordancewith the requirementsof Sections394and395andwhichotherwisecomplywith therequirementsof theCompanies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statementswereapprovedby the Board of Trusteesand authorisedfor issueon 9 June2024 and were signed on its behalf by:
The notes form part of these financial statements
Page 7
Shree Prajapati Association Leicester
Balance Sheet - continued 31 March 2024
Mr K D Mistry - Trustee
Mr V Mistry - Trustee
Mr B Mistry - Trustee
The notes form part of these financial statements
Page 8
**Shree Prajapati Association Leicester**
**Notes to the Financial Statements for the Year Ended 31 March 2024**
## **1. Accounting policies**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
## **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.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold Property -1% on cost
## **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.
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.
## **2. Other activities**
|**Other activities**|||
|---|---|---|
||31.3.24|31.3.23|
||£|£|
|Religious activities|42,960|39,915|
|Social activities|37,527|9,819|
|Social activities training|12,842|9,232|
||93,329|58,966|
Page 9
**Shree Prajapati Association Leicester**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **3. Investment income**
|**Investment income**|||
|---|---|---|
|Property and car park rentals
Deposit account interest|31.3.24
£
162,986
4,898
167,884|31.3.23
£
101,889
921|
|||102,810|
## **4. Raising funds**
## **Investment management costs**
|Rates and water charges
Light and heat
Repairs, renewals and maint
Cleaning
Security and car parking
Insurance
Refuse
**Net income/(expenditure)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets|31.3.24
£
11,912
32,870
64,776
14,267
13,632
14,876
8,069
160,402
31.3.24
£
25,000|31.3.23
£
9,411
15,439
105,126
13,794
8,073
13,367
6,358|
|---|---|---|
|||171,568|
|||31.3.23
£
25,000|
## **5. Net income/(expenditure)**
## **6. Trustees' remuneration and benefits**
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Page 10
**Shree Prajapati Association Leicester**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **7. Comparatives for the statement of financial activities**
|**Income and endowments from**
Donations and legacies
Other activities
Investment income
**Total**
**Expenditure on**
Raising funds
**Charitable activities**
Sporting activities
Social activities training
Social activities
Donations
Religious activities
Other
**Total**
**NET INCOME/(EXPENDITURE)**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**
**8.**
**Tangible fixed assets**
**Cost**
At 1 April 2023 and 31 March 2024
**Depreciation**
At 1 April 2023
Charge for year
At 31 March 2024
**Net book value**
At 31 March 2024
At 31 March 2023|Freehold
property
£
2,500,000
125,000
25,000
150,000
2,350,000
2,375,000|Fixtures
and
fittings
£
44,644
44,644
-
44,644
-
-||Unrestricted
funds
£
19,365
58,966
102,810
181,141
171,568
3,035
2,204
5,323
4,114
9,476
37,269
232,989
(51,848)
2,534,452
2,482,604
Totals
£
2,544,644
169,644
25,000
194,644
2,350,000
2,375,000|
|---|---|---|---|---|
||||||
||||||
||||||
||||||
Page 11
**Shree Prajapati Association Leicester**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 March 2024**
## **9. Fixed asset investments**
|**Market value**
At 1 April 2023 and 31 March 2024
**Net book value**
At 31 March 2024
At 31 March 2023
There were no investment assets outside the UK.
**10.**
**Debtors: amounts falling due within one year**
Other debtors
Prepayments
**11.**
**Creditors: amounts falling due within one year**
Trade creditors
Other creditors
Accrued expenses
**12.**
**Creditors: amounts falling due after more than one year**
Deferred income
**13.**
**Movement in funds**
**Unrestricted funds**
General fund
Building fund
**TOTAL FUNDS**|At 1/4/23
£
227,268
2,255,336
2,482,604
2,482,604||31.3.24
£
14,830
2,201
17,031
31.3.24
£
2
30,207
62,004
92,213
31.3.24
£
7,180
Net
movement
in funds
£
46,599
(25,000)
21,599
21,599|Unlisted
investments
£
1
1
1
31.3.23
£
3,750
741
4,491
31.3.23
£
1
28,297
134,858
163,156
31.3.23
£
6,952
At
31/3/24
£
273,867
2,230,336
2,504,203
2,504,203|
|---|---|---|---|---|
||||||
||||||
Page 12
**Shree Prajapati Association Leicester**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **13. Movement in funds - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Building fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
Building fund
**TOTAL FUNDS**|Incoming
resources
£
282,834
-
282,834
282,834
At 1/4/22
£
254,116
2,280,336
2,534,452
2,534,452||Resources
expended
£
(236,235)
(25,000)
(261,235)
(261,235)
Net
movement
in funds
£
(26,848)
(25,000)
(51,848)
(51,848)|Movement
in funds
£
46,599
(25,000)
21,599
21,599
At
31/3/23
£
227,268
2,255,336
2,482,604
2,482,604|
|---|---|---|---|---|
||||||
||||||
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Building fund
**TOTAL FUNDS**|Incoming
resources
£
181,141
-
181,141
181,141|Resources
Movement
expended
in funds
£
£
(207,989)
(26,848)
(25,000)
(25,000)
(232,989)
(51,848)
(232,989)
(51,848)|
|---|---|---|
Page 13
**Shree Prajapati Association Leicester**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **13. Movement in funds - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
Building fund
**TOTAL FUNDS**|At 1/4/22
£
254,116
2,280,336
2,534,452
2,534,452|Net
movement
in funds
£
19,751
(50,000)
(30,249)
(30,249)|At
31/3/24
£
273,867
2,230,336|
|---|---|---|---|
||||2,504,203|
||||2,504,203|
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
Building fund
**TOTAL FUNDS**|Incoming
resources
£
463,975
-
463,975
463,975|Resources
Movement
expended
in funds
£
£
(444,224)
19,751
(50,000)
(50,000)
(494,224)
(30,249)
(494,224)
(30,249)|Resources
Movement
expended
in funds
£
£
(444,224)
19,751
(50,000)
(50,000)
(494,224)
(30,249)
(494,224)
(30,249)|
|---|---|---|---|
||||(30,249)|
||||(30,249)|
## **14. Related party disclosures**
There were no related party transactions for the year ended 31 March 2024.
Page 14
**Shree Prajapati Association Leicester**
## **Detailed Statement of Financial Activities**
## **for the Year Ended 31 March 2024**
||31.3.24|31.3.23|
|---|---|---|
||£|£|
|**Income and endowments**|||
|**Donations and legacies**|||
|Gifts|(1)|1|
|Donations|15,598|11,923|
|Gift aid|4,197|3,852|
|Subscriptions|1,827|1,783|
|Covid relief|-|1,806|
||21,621|19,365|
|**Other activities**|||
|Religious activities|42,960|39,915|
|Social activities|37,527|9,819|
|Social activities training|12,842|9,232|
||93,329|58,966|
|**Investment income**|||
|Property and car park rentals|162,986|101,889|
|Deposit account interest|4,898|921|
||167,884|102,810|
|**Total incoming resources**|282,834|181,141|
|**Expenditure**|||
|**Investment management costs**|||
|Rates and water charges|11,912|9,411|
|Light and heat|32,870|15,439|
|Repairs, renewals and maint|64,776|105,126|
|Cleaning|14,267|13,794|
|Security and car parking|13,632|8,073|
|Insurance|14,876|13,367|
|Refuse|8,069|6,358|
||160,402|171,568|
|**Charitable activities**|||
|Tutors and instructors|2,345|2,151|
|Donations|7,283|4,114|
|Sundries|53,852|17,617|
|Training|142|270|
||63,622|24,152|
|**Other**|||
|Freehold property|25,000|25,000|
This page does not form part of the statutory financial statements
Page 15
**Shree Prajapati Association Leicester**
## **Detailed Statement of Financial Activities**
## **for the Year Ended 31 March 2024**
||31.3.24|31.3.23|
|---|---|---|
||£|£|
|**Support costs**|||
|**Management**|||
|Telephone|1,222|1,067|
|Printing, post and stationery|4,837|5,212|
|Sundries|1,701|2,944|
|I T Expenses|1,386|306|
||9,146|9,529|
|**Governance costs**|||
|Accountancy fees|2,873|2,740|
|Legal fees|192|-|
||3,065|2,740|
|Total resources expended|261,235|232,989|
|**Net income/(expenditure)**|21,599|(51,848)|
This page does not form part of the statutory financial statements
Page 16