**REGISTERED CHARITY NUMBER: 1130120** ## **REPORT OF THE TRUSTEES AND** ## **FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31ST DECEMBER 2021** ## **FOR** **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL BOLTON** Zia & Co 41 Slade Lane Manchester Greater Manchester M13 0QJ **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL BOLTON** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|3| |**Statement of Trustees' Responsibilities**||4|| |**Report of the Independent Auditors**|5|to|8| |**Statement of Financial Activities**||9|| |**Balance Sheet**||10|| |**Notes to the Financial Statements**|11|to|13| |**Detailed Statement of Financial Activities**||14|| **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL BOLTON** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021** The trustees present their report with the financial statements of the charity for the year ended 31st December 2019. The trustees adopted the provisions of the statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005 and revised in May 2008. ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The primary objective of the organisation is to provide a place of worship and ancillary activities for the promotion of the Hindu Faith ( Shree Swaminarayan Gadi Sansthan Maninagar ). ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** Services were held daily and all the festivals were celebrated with high level of attendance except for the period when the temple was required to remain closed to comply with government corona virus lockdown rules. Up to the period of national lock down, Language classes were held every Saturday. The Arts and Cultural Centre within the temple was regularly visited by local schools and other community groups. The temple fully complied with national lock down guidance issued by the government from time to time and remained close for members of public and devotees according to the guidance from government. ## **Financial Performance** The trustees are please to be able to report that during 2021 the charity achieved a surplus of £ 191,625 (2020 £ 36,304). ## **FINANCIAL REVIEW** ## **Investment policy and objectives** The charity's funds are placed on short - term, interest-bearing fixed deposits for ease of access. ## **Reserves policy** The charity now has free reserves of £ 4,122,141 (2020 £ 3,930,516). ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The organisation is an unincorporated association registered with Charities Commission on 11 June 2009 under a constitution adopted on 6 September 2008 and amended on 24 May 2009. -1- **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL BOLTON** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Organisational structure** The charity is managed by the thirteen members managing committee. All the trustees and committee members are elected by members of the congregation simultaneously for a three -year term currently expiring on 31 December 2021.The trustees meet regularly throughout the year. Three of the trustees are also titleholders of the freehold property. Members of managing committee are: - Mr Karshan Bhimji Patel ( Trustee, Secretary) - Mr Kanji Valji Naran ( Trustee, Treasurer) - Mr Ganshyam Hirji Patel ( Chairman) - Mr Karsan Harji Pindolia - Mr Govind Valji Naran - Mr Jayantilal Ruda Patel - Mr Harshad Kalyan Hirani - Mr Premji Shivji Vekaria - Mr Laxman Lalji Varsani - Mr Navnitkumar Gopal Sanghani - Mr Devendray Ravji Varsani ( Deceased on 11/01/2021) Mr Navin Karsan Patel ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1130120 ## **Principal address** 161 Deane Road Bolton Lancashire BL3 5AH ## **Trustees** K B Patel Secretary, Trustee & titleholder (appointed 26/11/2021) K V Naran Chairperson, Trustee & titleholder (appointed 26/11/2021) N K Patel Treasurer & trustee (appointed 26/11/2021) N V Khimji Titleholder (deceased 20/1/2021) G V Naran J R Patel H Hirani N K Patel (appointed 26/11/2021) L L Varsani N G Sanghani M Kathiriya P Naran D M Raghwani ## **Auditors** Zia & Co 41 Slade Lane Manchester Greater Manchester M13 0QJ -2- **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL BOLTON** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021** Approved by order of the board of trustees on 10th February 2022 and signed on its behalf by: K V Naran - Trustee -3- **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL BOLTON** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31ST DECEMBER 2021** The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees of the charity are required to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the trust and of the surplus or deficit of the charity for that period. In preparing those financial statements, the trustees are required to: - select suitable accounting policies and apply them consistently - make judgements and estimates that are reasonable and prudent - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements - prepare the financial statements on a going concern basis The trustees are responsible also for keeping proper accounting records which disclose with reasonable accuracy the financial position of the trust and to enable it to ensure that the financial statements comply with the charity law. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In respect of the audit the trustees have a responsibility to ensure that they take all steps necessary in order to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. -4- **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL BOLTON** ## **Opinion** We have audited the financial statements of Shree Swaminarayan Sidhant Sajivan Mandal Bolton (the 'charity') for the year ended 31st December 2021 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). - In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 31st December 2021 and of its incoming resources and application of resources, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. -5- **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL BOLTON** ## **Responsibilities of trustees** As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. -6- **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL BOLTON** ## **Our responsibilities for the audit of the financial statements** We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management. - we identify the laws and regulations applicable to the company through discussions with management, and from our commercial knowledge and experience of the sector in which the company operates. - We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are those that relate to the reporting framework (Companies Act 2006) and the relevant tax compliance regulations in the jurisdictions in which the company operates. In addition, we concluded that there are certain significant laws and regulations that may have an effect on the determination of the amounts and disclosures in the financial statements and those laws and regulations relating to health and safety, employee matters and bribery and corruption practices. - we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting correspondence where available; and - identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. - We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: - making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and - considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. - To address the risk of fraud through management bias and override of controls, we: - performed analytical procedures to identify any unusual or unexpected relationships; - tested journal entries to identify unusual transactions; - assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and - investigated the rationale behind significant or unusual transactions. - In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: - agreeing financial statement disclosures to underlying supporting documentation; - reading the minutes of meetings of those charged with governance; - enquiring of management as to actual and potential litigation and claims; and -7- ## **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL BOLTON** `o` reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. ## **Use of our report** This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Zia & Co 41 Slade Lane Manchester Greater Manchester M13 0QJ Date: ............................................. -8- ## **SHREE SWAMINARAYAN SIDHANT SAJIVAN** ## **MANDAL BOLTON** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
2
**Total**
**EXPENDITURE ON**
**Charitable activities**
Provision of religious services
Other
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
258,228
74,507
332,735
86,575
3,800
90,375
242,360
1,755,777
1,998,137|Restricted
fund
£
-
-
-
50,735
-
50,735
(50,735)
2,174,739
2,124,004|Total
funds
£
258,228
74,507| |---|---|---|---| ||||332,735
137,310
3,800| ||||141,110| ||||191,625
3,930,516| ||||4,122,141| The notes form part of these financial statements -9- ## **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL BOLTON** ## **BALANCE SHEET 31ST DECEMBER 2021** |Notes
**FIXED ASSETS**
Tangible assets
5
**CURRENT ASSETS**
Investments
6
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
7
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
8
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
456,620
1,052,448
492,869
1,545,317
(3,800)
1,541,517
1,998,137
1,998,137|Restricted
fund
£
2,124,004
-
-
-
-
-
2,124,004
2,124,004|Total
funds
£
2,580,624
1,052,448
492,869
1,545,317
(3,800)
1,541,517
4,122,141
4,122,141
1,998,137
2,124,004
4,122,141| |---|---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 10th February 2022 and were signed on its behalf by: K V Naran - Trustee The notes form part of these financial statements -10- **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL BOLTON** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 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 2019)', 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. ## **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 - 2% on cost Fixtures and fittings - 5% on cost ## **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. The Restricted fund in these financial statements refers to the " Building Extension Project" undertaken during past years and the restricted funds raised for the said project have been expended according to the objectives of the fund. continued... -11- **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL BOLTON** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021** ## **2. INVESTMENT INCOME** |**INVESTMENT INCOME**|| |---|---| |Rent received
Deposit account interest|£
37,146
37,361| ||74,507| ## **3. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31st December 2021. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31st December 2021. ## **4. STAFF COSTS** The average monthly number of employees during the year was as follows: Priest 1 No employees received emoluments in excess of £60,000. ## **5. TANGIBLE FIXED ASSETS** |**COST**
At 1st January 2021
Additions
At 31st December 2021
**DEPRECIATION**
At 1st January 2021
Charge for year
At 31st December 2021
**NET BOOK VALUE**
At 31st December 2021|Freehold
property
£
295,000
15,041
310,041
67,850
6,201
74,051
235,990|Improvements
to
property
£
2,536,699
-
2,536,699
246,760
50,735
297,495
2,239,204|Fixtures
and
fittings
£
162,200
-
162,200
48,660
8,110
56,770
105,430|Totals
£
2,993,899
15,041| |---|---|---|---|---| |||||3,008,940| |||||363,270
65,046| |||||428,316| |||||2,580,624| continued... -12- **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL BOLTON** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021** ## **6. CURRENT ASSET INVESTMENTS** £ Investments 1,052,448 **7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** £ Accrued expenses 3,800 ## **8. MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
**Restricted funds**
Building Extension Fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Building Extension Fund
**TOTAL FUNDS**|At 1/1/21
£
1,755,777
2,174,739
3,930,516
Incoming
resources
£
332,735
-
332,735||Net
movement
in funds
£
242,360
(50,735)
191,625
Resources
expended
£
(90,375)
(50,735)
(141,110)|At
31/12/21
£
1,998,137
2,124,004
4,122,141
Movement
in funds
£
242,360
(50,735)
191,625| |---|---|---|---|---| |||||| |||||| ## **9. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31st December 2021. -13- **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL BOLTON** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift aid
Grants
**Investment income**
Rent received
Deposit account interest
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Household & cleaning
Prasad & kitchen expenditure
Donations made
Repair & maintenance
Freehold property
**Support costs**
**Governance costs**
Auditors' remuneration
Accountancy and legal fees
Total resources expended
**Net income**|£
227,211
27,021
3,996
258,228
37,146
37,361
74,507
332,735
15,400
1,561
6,920
9,308
806
3,054
2,043
3,226
19,041
10,905
65,046
137,310
2,000
1,800
3,800
141,110
191,625| |---|---| This page does not form part of the statutory financial statements -14-