2025-03-31-accounts

REGISTERED COMPANY NUMBER: 06752627 (England and Wales) REGISTERED CHARITY NUMBER: 1131386

Report of the Trustees and

DRAFT Financial Statements for the Year Ended 31 March 2025

(SUBJECT TO AUDIT)

for The Jain Network Limited (A Company Limited by Guarantee)

The Jain Network Limited

Contents of the Financial Statements for the Year Ended 31 March 2025

		Page
Report of the Trustees	1	to	7
Statement of Financial Activities		12
Balance Sheet	13	to	14
Cash Flow Statement		15
Notes to the Cash Flow Statement		16
Notes to the Financial Statements	18	to	25

The Jain Network Limited

Report of the Trustees

for the Year Ended 31 March 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. 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 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The principal activity of the company in the year under review was that of operating as a registered charity in the UK, in furtherance of its objectives to advance the Jain religion for the benefit of the public and to promote, for the Jain communities in the UK and India, by providing education, training, relief of poverty and their well-being for improving their conditions of life.

In particular, the charity's main purpose is to advance Jain values and education for public benefit. Our work centers on four broad aims: 1) spiritual education 2) community well-being 3) relief of poverty and 4) seva (service). Each is designed to improve quality of life and foster the understanding of Jain principles such as non-violence (ahimsa), anekantvada (respect for diverse views), aparigraha (non-possessiveness, environmental conservation), compassion and self-discipline.

Significant activities

1. Construction of Jain Centre London at 64-68 Colindale Road, NW9 5DR

Our most significant initiative remains the construction of the new Jain Centre in Colindale, North-West London. This is a 3-story, 30,000 sq ft community centre that includes a Jain temple for worship and multifunctional space for education and community life. Phase One (cost approximately £4.5 million) was completed in 2021; Phase Two (budget approximately £ 5.5 million) is now well under way, with approx. £3.5m spent to date. The inauguration ceremony for the temple was held in Summer 2023, an event attended by approx. 5000 devotees and visitors from all over the world as well as local councillors, inter-faith partners and media representatives. The Centre is planned to open fully by the end of 2026, pending completion of specialist marblework assembly of the temple dome on the second floor. These timelines are dependent on visas being granted for specialist temple artisans from India to guide the marblework assembly.

2. Religious, educational, cultural and wellbeing activities

During 2024-25, we have continued to offer religious, educational, cultural and wellbeing programmes serving both the Jain community in the UK, visitors from India and elsewhere, and the wider public. These included:

• daily regular worship

• religious activities during 3 major annual Jain festivals each lasting a week (Paryushan and two Ayambil Oli)

• regular religious seminars and cultural sessions

• youth-focused events including sports activities and a careers fair

• wellbeing activities especially for the elderly, including health guidance, yoga, cardiac health and nutrition workshops, helping improve confidence, mobility and social connection

The building project entailed a move to alternative premises nearby which enabled continuation of the day-to-day activities of the charity comprising cultural, health, religious and sports activities.

Public benefit

The trustees confirm that they have considered the Charity Commission's public-benefit guidance in all planning and review activities. Our programmes are open to the public and designed to benefit society through education, inter-faith dialogue and community wellbeing initiatives. They include:

• promotion of non-violence, tolerance, respect for diverse views, environmental sustainability

• religious, social and cultural activities focused on the above

• focus on the elderly and youth, wellbeing, physical activity and spiritual education

• religious prayers, activities and discussions

Page 1

The Jain Network Limited

Report of the Trustees for the Year Ended 31 March 2025

STRATEGIC REPORT Achievements and performance

Charitable activities

Our premises are open daily for the conduct of religious, cultural, educational, health awareness and well-being functions, seminars and activities for members and the wider public. Users of our facilities and programmes are mainly the local community in northwest London but we also have participation from people further afield in greater London, and visits from Jain communities elsewhere in the UK, India and the USA.

Feedback from our local community shows participants value these as welcoming spaces that build community connection and mental wellbeing. Feedback from overseas visitors compliments the ambition of the Charity to go beyond solely religious activities to encompass a much broader range of activities for community benefit.

Our health and service programmes translate Jain compassion into action. Regular meditation and mindfulness classes are well attended (typically 60-100 participants per session), including seniors and women. Health-awareness talks on diet, diabetes prevention, cardiac health and stress management reached >100 attendees/session, usually delivered by volunteer clinicians.

We continue to put focus into how to best engage younger people on topics that align to their concerns (such as climate change, conflict, careers) and suggest approaches based on the incorporation of Jain principles into our daily lives.

Our regular events also serve as opportunities for members of the community to volunteer for organisation and logistics, strengthening our role as a bridge between faith and social responsibility.

Fundraising activities

The Trustees continue to drive fundraising activities to raise the balance of funds required to complete the new Jain Centre. A diverse range of donation schemes are in place to attract funding. These include small donations from devotees, sponsorship aligned to major festivals, recognition schemes (such as the Jain Ratnakar scheme), overseas donor visits and specific charity fundraising activities. The trustees also visit well-wishers overseas for these purposes.

Page 2

The Jain Network Limited

Report of the Trustees for the Year Ended 31 March 2025

STRATEGIC REPORT Financial review Financial position

General

In the period under review incoming resources amounted to £475,792 (2024 - £1,802,530). The directors have pursued their main activity of furthering the objects of the charity by resolving to build a community centre in North West London encompassing a Jain temple, for the benefit of local communities and for the wider public, based on Jain values and the site acquired for this purpose is under development with completion expected to be in 2026, an inauguration ceremony already having been carried out in Summer 2023.

A brief Project Dashboard (Jain Centre Colindale) is shown below:

Metric Total (£ m) Status / Notes Total Budget 10.0 Phase 1 complete 2021; Phase 2 in progress Funds Raised to Date £8m Includes £1.825 m gift conversion Expenditure to Date £7.5m for construction & fit-out Remaining to Complete £2m - Fundraising under way Completion Target Spring 2026 Post H&S certification

Key Milestones

• Marble works 95 % complete as of December 2025

• Electrical testing QTR 2024

• Landscaping early 2025

• Formal Opening Spring 2026

Reserves policy

To achieve its objectives, the charity has elected to expend minimum incoming resources on expenditure on running expenses, to enable retention for the building project in hand. Total funds at 31.03.2025 amounted to £8,095,047 (2024£7,789,268) of which £8.1m are restricted (2024 - £7.8m). The trustees aim to keep £10,000 in reserve to meet general fund expenditure.

Investment Powers

In accordance with the charity's Memorandum of Association the Trustees of the charity have the power to invest in such investments, securities, or property as they see fit.

Investment policy

Funds are invested in accordance with the donor's wishes. In the absence of a specific request, donations received by the charity are placed on bank deposit until distribution in accordance with the objects of the charity.

Principal funding sources

1) To date, the principal funding source has been the Dr N K Shah Trust (a registered charity in the UK) ' the Trust' which is a related party and whose founder, Dr N K Shah, was a trustee of both charities until his demise on 6 March 2022. The Trust, now governed by his family members continues to support the Charity.

2) A project of this size also requires gifts and donations from the UK and overseas to assist in fulfilling the Charity's objectives and to this end members, well-wishers and the wider public have participated to ensure the project's success via fund raising events and centre activities.

Page 3

The Jain Network Limited

Report of the Trustees

for the Year Ended 31 March 2025

STRATEGIC REPORT Financial review

Going concern

The financial statements have been prepared on the going concern basis as the trustees believe that no material uncertainties exist. They have considered the level of funds held together with the expected level of income and expenditure likely to be received and paid in the 12 months period from authorising these financial statements.

In their opinion, the budgeted income and expenditure, are sufficient with the level of balances for the charity to be able to continue as a going concern. The committee incurs financial commitments only when funds are available and there is no particular policy to hold reserve funds over and above the minimum required to meet administrative costs.

The trustees are confident that the final phase of the building project will be completed within the next 12 months and are taking steps to ensure that sufficient funding is in place to enable final completion.

Principal risks and uncertainties

The building project in hand lends itself to certain risks and uncertainties, in terms of timing of the works, funding constraints and general economic risks such as inflation.

The trustees have taken appropriate steps to mitigate these risks and hope to deliver the project in 2026.

.Risk Impact Mitigation Construction delays Timeline risk Monthly contractor reviews Cost inflation +5-10 % costs Fixed supplier contracts Craftsmen availability Schedule risk Early visas / alternate teams Fundraising gap Cash-flow risk Rolling campaign & innovations ideas

Financial and risk management objectives and policies

Having assessed the major risks to which the charity is exposed, in particular those relating to its activities, project management and its finances, the trustees believe that by monitoring reserve levels, by ensuring that controls exist over key financial systems, and by examining the operational and business risks faced by the charity, they have established effective systems to mitigate those risks.

Future plans

The current focus of the charity is on completion of the building project and at the same time to continue its regular charitable activities.

In the longer term, the completed community and temple building is expected to serve the requirements of its members and the wider public, as laid out in the objectives of the company.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Company is a registered charitable organisation, registered with the Charity Commission on 27 August 2009 under the Charities Act 2011. It was incorporated on 18 November 2008 under a Memorandum and Articles of Association, as revised on 24.03.2019, which lays out its objects, powers and governance and as such, constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

There has been an average of 13 trustees throughout the period. Any new appointments are at the recommendation of the board or by election of at least 3 trustees, to fill vacancies following retirement of trustees by rotation.

The Charity's constitution allows for a maximum of nine trustee appointments, with a minimum of six, in addition to the position of President, as appointed by the Dr N K Shah Trust. In addition, donors of gifts in excess of £500,000 have the right to appoint a trustee of their choice.

Page 4

The Jain Network Limited

Report of the Trustees for the Year Ended 31 March 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure

Governance Overview

The charity is governed by a volunteer Board of Trustees bringing skills from finance, construction, education, health and community development. The Board meets monthly to review progress, risk and strategy, supported by specialist committees and volunteer teams. All decisions are recorded and guided by Jain principles of integrity, non-violence and service.

Board Committees and Delegation

To ensure strong oversight, the Board operates Finance & Audit, Building Project and Community Programme Committees. Each reports formally to the Board. Operational volunteers manage day-to-day activities under trustee supervision.

Trustee Composition and Diversity

The Board currently includes 9 men and 2 women with backgrounds in medicine, finance, engineering, education and community service. Diversity of thought and experience is valued, and plans are in place to broaden representation of younger professionals and women. A skills-matrix guides recruitment and training.

All trustees complete annual declarations of interest and withdraw from any decision where a conflict may arise. The Board follows a written Code of Conduct reflecting Jain ethics, honesty, non-violence and fairness, to ensure transparency and avoid personal benefit.

Transparency and Accountability

Annual reports and accounts are published on the Charity Commission website and presented to members at the AGM. A dedicated email channel invites questions or feedback. Major decisions such as building milestones, trustee appointments are communicated through emails, newsletters and open meetings.

The trustees approve this Report and Strategic Summary as a true record of activities and plans for the year ended 31 March 2025. It reflects our collective commitment to building a strong, inclusive Jain Centre and ensuring the Network continues to serve future generations with integrity and compassion.

Induction and training of new trustees

All new trustees are given, in the view of the board, sufficient training and have enough knowledge of their specific field to understand the nature of the charity and fully comply with the charity's current view of its progression. They are required to participate in an orientation day to ensure they are aware of both their legal and professional responsibilities under charity and company law.

Frequent reviews are carried out by experienced staff members to ensure that they are all sufficiently managing their duties and attend internal and external training sessions where appropriate.

Related parties

1) Dr S N Shah, Dr A M Shah and Ms L Shah are also trustees of Dr N K Shah Trust (a registered charity in the UK), which has made significant gifts to this charity, amounting to £65,000 during the year.

2) Various trustees have made gifts to the charity in the current year which do not exceed £75,000 in total.

3) The charitable company set up a wholly owned company called Jain Centre Jinalay (Temple Project) Ltd. Dr S N Shah, Mr D U Shah and Mr A Mehta, directors of The Jain Network Ltd are also directors of Jain Centre Jinalay (Temple Project) Ltd, which was dormant during the year.

4) As at the Balance Sheet date, Jain Centre Jinalay (Temple Project) Ltd owed £6,945 (2024: £6,984) to The Jain Network Ltd.

5) Mr P Meisheri, trustee, has a controlling interest in a travel agency business, provided support services to the charity amounting to not more than £10,000 for the charity's travel arrangements.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Page 5

The Jain Network Limited

Report of the Trustees

for the Year Ended 31 March 2025

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 06752627 (England and Wales)

Registered Charity number 1131386

Registered office 20, James Close Woodlands London NW11 9QX

Trustees A Shah (resigned 6.5.24) B Mehta D U Shah FCA V Mithani V Sheth A Mehta A Chopada (resigned 6.5.24) P Meisheri S Ranka B K Holden A M Shah L Shah S N Shah

Auditors

Prestons and Jacksons Partnership LLP 364-368 Cranbrook Road Ilford Essex IG2 6HY

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of The Jain Network Limited for the purposes of company law) 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).

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company 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 Charities SORP;

• 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 the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

Page 6

The Jain Network Limited

Report of the Trustees for the Year Ended 31 March 2025

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

• there is no relevant audit information of which the charitable company's auditors are unaware; and

• the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, TO BE CONFIRMED, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 11 January 2026 and signed on the board's behalf by:

D U Shah FCA - Trustee

Page 7

PAGES 8-1 l are Intentionally blank Pagell

The Jain Network Limited

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2025

Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Total EXPENDITURE ON Raising funds 4 Charitable activities 5 Event management Other Total NET INCOME Transfers between funds 17 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted fund £ 161,440 - 161,440 - - 24,158 24,158 137,282 (143,166) (5,884) 15,226 9,342	Restricted funds £ 313,468 773 314,241 67,800 77,186 758 145,744 168,497 143,166 311,663 7,774,042 8,085,705	31.3.25 Total funds £ 474,908 773 475,681 67,800 77,186 24,916 169,902 305,779 - 305,779 7,789,268 8,095,047	31.3.24 Total funds £ 1,802,093 437
				1,802,530
				324,524 59,850 26,986
				411,360
				1,391,170 -
				1,391,170 6,398,098
				7,789,268

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

continued...

Page 13

The Jain Network Limited

Balance Sheet

31 March 2025

Notes FIXED ASSETS Tangible assets 11 Investments 12 CURRENT ASSETS Debtors 13 Cash at bank and in hand CREDITORS Amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 15 NET ASSETS FUNDS 17 Unrestricted funds Restricted funds TOTAL FUNDS	Unrestricted fund £ 12,577 100 12,677 - 11,787 11,787 (15,122) (3,335) 9,342 - 9,342	Restricted funds £ 8,171,623 - 8,171,623 11,545 115,554 127,099 (197,886) (70,787) 8,100,836 (15,131) 8,085,705	31.3.25 Total funds £ 8,184,200 100 8,184,300 11,545 127,341 138,886 (213,008) (74,122) 8,110,178 (15,131) 8,095,047	31.3.24 Total funds £ 7,910,140 100 7,910,240 8,934 216,075 225,009 (320,981) (95,972) 7,814,268 (25,000) 7,789,268 15,226 7,774,042 7,789,268
			9,342 8,085,705 8,095,047

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

The trustees acknowledge their responsibilities for

• (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

• (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.

The financial statements were approved by the Board of Trustees and authorised for issue on 11 January 2026 and were signed on its behalf by:

The notes form part of these financial statements

continued...

Page 13

The Jain Network Limited

Balance Sheet - continued 31 March 2025

D U Shah FCA - Trustee

The notes form part of these financial statements

Page 14

The Jain Network Limited

Cash Flow Statement for the Year Ended 31 March 2025 31.3.25 Notes £ Cash flows from operating activities Cash generated from operations 1 204,084 Interest paid (1,798) Net cash provided by operating activities 202,286 Cash flows from investing activities Purchase of tangible fixed assets (279,962) Interest received 773 Net cash used in investing activities (279,189) Cash flows from financing activities Bonds paid (2,000) Loan repayments in year (9,869) Group company 39 Net cash used in financing activities (11,830) Change in cash and cash equivalents in the reporting period (88,733) Cash and cash equivalents at the beginning of the reporting period 216,075 Cash and cash equivalents at the end of the reporting period 127,341

31.3.24 £ 1,406,610 (1,443) 1,405,167 (1,433,425) 437 (1,432,988) (1,000) (9,620) (571) (11,191) (39,012) 255,087 216,075

The notes form part of these financial statements

Page 15

The Jain Network Limited

Notes to the Cash Flow Statement for the Year Ended 31 March 2025

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Interest paid (Increase)/decrease in debtors (Decrease)/increase in creditors Net cash provided by operations 2. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT) At 1.4.24 £ Net cash Cash at bank and in hand 216,075 216,075 Debt Debts falling due within 1 year (133,650) Debts falling due after 1 year (25,000) (158,650) Total 57,425	31.3.25 £ 305,780 5,902 (773) 1,798 (2,650) (105,973) 204,084 Cash flow £ (88,734) (88,734) 2,000 9,869 11,869 (76,865)	31.3.24 £ 1,391,170 5,953 (437) 1,443 846 7,635 1,406,610 At 31.3.25 £ 127,341 127,341 (131,650) (15,131) (146,781) (19,440)

The notes form part of these financial statements

Page 16

The Jain Network Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

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.

Preparation of consolidated financial statements

The charity has a subsidiary which was considered immaterial and has not been trading. The balances on the subsidiary company are immaterial and we have taken exemption under the Charity SORP 24.13A to not prepare consolidated financial statements, this being the only subsidiary held by the charity.

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.

Income from government and other grants, whether "capital" grants or "revenue" grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and amount can be measured reliably and is not deferred.

Donated facilities is recognised at is estimated market value.

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 - not provided Fixtures and fittings - 15% on reducing balance

Land is not depreciated and no depreciation is charged in the year of acquisition.

Freehold property is not depreciated as the property is under construction and not yet put to use.

Tangible fixed assets are capitalised at cost or revaluation basis less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended.

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.

continued...

Page 17

The Jain Network Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

1. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Going concern policy

The Charity's Financial Statements show total income of £1,802,530 (2023: £3,423,584) for the year and free reserves of £15,226 (2023: £114,984). The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements with respect to a period of at least one year from the date of approval of these financial statements including considering the impact of cost of living on the charity's income, expenditure and reserves, and its beneficiaries. They have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern and are fully engaged on a strategy to create a sustainable and resilient organisation, once the building project is completed during the next 12 months. The trustees are confident that sufficient funding will be in place to achieve this goal and are taking steps to ensure that funding is in place to continue normal activities thereafter. The trustees incur financial commitments only when funds are available and there is no particular policy to hold reserve funds over and above the minimum required to meet administrative costs.

Debtors

Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount paid net of discounts due.

Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.

Winding up or dissolution of the charity

If upon winding up or dissolution of the charity, there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.

2. DONATIONS AND LEGACIES

Donations Gift aid Building Fund Membership & Member donations Religious events	Unrestricted funds £ 28,844 132,596 - - - 161,440	Restricted funds £ - - 266,585 - 46,883 313,468	31.3.25 Total funds £ 28,844 132,596 266,585 - 46,883 474,908	31.3.24 Total funds £ 144,130 46,689 1,543,700 27,318 40,256
				1,802,093

continued...

Page 18

The Jain Network Limited

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

3. INVESTMENT INCOME 31.3.25 Unrestricted Restricted Total funds funds funds £ £ £ Deposit account interest - 773 773 4. RAISING FUNDS Raising donations and legacies 31.3.25 Unrestricted Restricted Total funds funds funds £ £ £ Staff costs - 28,421 28,421 Sundries, travel & advtg - 1,828 1,828 Fund raising events and costs - 36,771 36,771 Interest payable and similar charges - 780 780 - 67,800 67,800 5. CHARITABLE ACTIVITIES COSTS Support Direct costs (see Costs note 6) £ £ Event management 74,596 2,590 6. SUPPORT COSTS Governance Management costs £ £ Other resources expended 18,256 6,659 Event management - 2,590 18,256 9,249 7. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): 31.3.25 £ Auditors' remuneration 3,600 Depreciation - owned assets 5,902 Other operating leases 6,290	31.3.24 Total funds £ 437 31.3.24 Total funds £ 40,089 10,738 272,671 1,026	31.3.24 Total funds £ 437 31.3.24 Total funds £ 40,089 10,738 272,671 1,026
	324,524
	Totals £ 77,186 Totals £ 24,915 2,590 27,505 31.3.24 £ 3,600 5,953 1,080	Totals £ 77,186
		Totals £ 24,915 2,590
		27,505

continued...

Page 19

The Jain Network Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

9. STAFF COSTS

Wages and salaries Other pension costs The average monthly number of employees during the year was as follows: Administration Charitable activities	31.3.25 £ 58,563 507 59,070 31.3.25 2 2 4	31.3.24 £ 50,228 231
		50,459
		31.3.24 3 - 3

No employees received emoluments in excess of £60,000.

10. KEY MANAGEMENT PERSONNEL

The Key Management Personnel comprises of the Board of Trustees.

11. TANGIBLE FIXED ASSETS

COST At 1 April 2024 Additions At 31 March 2025 DEPRECIATION At 1 April 2024 Charge for year At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024	Freehold property £ 7,873,813 276,938 8,150,751 - - - 8,150,751 7,873,813	Fixtures and fittings £ 61,212 3,024 64,236 24,885 5,902 30,787 33,449 36,327	Totals £ 7,935,025 279,962
			8,214,987
			24,885 5,902
			30,787
			8,184,200
			7,910,140

continued...

Page 20

The Jain Network Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

12. FIXED ASSET INVESTMENTS

12.	FIXED ASSET INVESTMENTS
				Shares in
				group
				undertakings
				£
	MARKET VALUE
	At 1 April 2024 and 31 March 2025			100
	NET BOOK VALUE
	At 31 March 2025			100
	At 31 March 2024			100
	There were no investment assets outside the UK.
	The company's investments at the balance sheet date in the share capital of companies include the following:
	Jain Centre Jinalay (Temple Project) Ltd
	Registered office: Registered in England & Wales
	Nature of business: Non-profit Project Management
		%
	Class of share:	holding
	Ordinary	100
			31.3.25	31.3.24
			£	£
	Aggregate capital and reserves		100	100
	There were no investment assets outside the UK.
13.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			31.3.25	31.3.24
			£	£
	Amounts owed by group undertakings		6,945	6,984
	Prepayments		4,600	1,950
			11,545	8,934
14.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			31.3.25	31.3.24
			£	£
	Bank loans and overdrafts (see note 16)		10,650	10,650
	Other loans (see note 16)		121,000	123,000
	Trade creditors		66,235	168,812
	Social security and other taxes		1,499	1,895
	Accrued expenses		13,624	16,624
			213,008	320,981

Building Fund Bonds in £1000 and £5000 denominations were introduced in August 2018, with the aim of raising finance from well-wishers of the charity. They are interest free, repayable on the 5th anniversary of issue or on demand by giving 3 months' notice.

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The Jain Network Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

		31.3.25	31.3.24
		£	£
Bank loans (see note	16)	15,131	25,000

Creditors over 12 months include bank loans of £25,000 which are unsecured, repayable as shown in Note 16, and bear interest at BBL rates.

16. LOANS

An analysis of the maturity of loans is given below:

Amounts falling due within one year on demand: Bank loans Building fund bonds Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years	31.3.25 £ 10,650 121,000 131,650 10,650	31.3.24 £ 10,650 123,000
		133,650
		10,650
	4,481	14,350

17. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
Unrestricted funds General fund Restricted funds Restricted Fixed Assets-Temple Project Religious events TOTAL FUNDS	At 1.4.24 £ 15,226 7,749,956 24,086 7,774,042 7,789,268	Net movement in funds £ 137,282 208,817 (40,319) 168,498 305,780	Transfers between funds £ (143,166) 98,254 44,911 143,165 (1)	At 31.3.25 £ 9,342 8,057,027 28,678
				8,085,705
				8,095,047

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The Jain Network Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

17. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Restricted Fixed Assets-Temple Project Religious events TOTAL FUNDS	Incoming resources £ 161,440 267,358 46,883 314,241 475,681	Resources Movement expended in funds £ £ (24,158) 137,282 (58,541) 208,817 (87,202) (40,319) (145,743) 168,498 (169,901) 305,780

Comparatives for movement in funds

Unrestricted funds General fund Restricted funds Restricted Fixed Assets-Temple Project Religious events Health/Organ donation TOTAL FUNDS	At 1.4.23 £ 114,984 6,178,274 86,608 18,232 6,283,114 6,398,098	Net movement in funds £ 191,280 447,558 752,332 - 1,199,890 1,391,170	Transfers between funds £ (291,038) 1,124,124 (814,854) (18,232) 291,038 -	At 31.3.24 £ 15,226 7,749,956 24,086 - 7,774,042 7,789,268

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Restricted Fixed Assets-Temple Project Religious events TOTAL FUNDS	Incoming resources £ 218,267 785,298 798,965 1,584,263 1,802,530	Resources expended £ (26,987) (337,740) (46,633) (384,373) (411,360)	Movement in funds £ 191,280 447,558 752,332 1,199,890 1,391,170

General

These funds comprise of membership, general gifts, hall hire and gift-aid and are utilised for the charity's operations.

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The Jain Network Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

17. MOVEMENT IN FUNDS - continued

Restricted funds

1) Fixed asset Temple fund - currently all funds received for the building project undertaken by the trustees, may only be utilised towards the completion of the building work.

2) Religious events funds - the surplus on these funds may only be utilised towards annual and periodic religious events in the future. Deficits may be funded from general reserves.

3) Health and Organ donation fund - any surplus from grants and health and similar social funds collected for such activities are restricted for utilisation in health seminars, food-aid and similar activities.

4) Surplus on religious or health funds arising from events held for raising funds for the building project may be transferred to the restricted fixed assets - Temple Project fund.

18. CAPITAL COMMITMENTS

The charity has committed to complete phase 2 of its temple project by Autumn 2025 and building costs amounting to £1.8m have been contracted for but not provided in these accounts, as the contract allows for halts in the project depending on availability of funds.

19. RELATED PARTY DISCLOSURES

1) Dr S N Shah, Dr A M Shah and Ms L Shah are also trustees of Dr N K Shah Trust (a registered charity in the UK), which has made significant gifts to this charity, amounting to £65,000 during the year.

2) Various trustees have made gifts to the charity in the current year which do not exceed £75,000 in total.

3) The charitable company set up a wholly owned company called Jain Centre Jinalay (Temple Project) Ltd. Dr S N Shah, Mr D U Shah and Mr A Mehta, directors of The Jain Network Ltd are also directors of Jain Centre Jinalay (Temple Project) Ltd, which was dormant during the year.

4) As at the Balance Sheet date, Jain Centre Jinalay (Temple Project) Ltd owed £6,945 (2024: £6,984) to The Jain Network Ltd.

5) Mr P Meisheri, trustee, has a controlling interest in a travel agency business, provided support services to the charity amounting to not more than £10,000 for the charity's travel arrangements.

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