## **Shirdi Sai Baba Temple Association of London** ## **UNAUDITED DRAFT FINANCIAL STATEMENTS** **30th April 2022** **Company number 6885384** **Charity number 1138530** ## **Shirdi Sai Baba Temple Association of London Financial Statements For The Year Ended 30th April 2022** |**Contents**|| |---|---| ||**Page**| |Reference and administrative details|3| |Trustees annual report|4| |Independent examiner's reports to the Trustees|7| |Statements of financial activities|9| |Balance sheet|10| |Notes to the financial statements|11| |**The following pages do not form part of the financial statements**|| |Detailed statements of financial activities|13| **Shirdi Sai Baba Temple Association of London** ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Charity Number** ## **Company number** **Trustees** ## **Registered office** **Independent examiner** 1138530 6885384 Reena Premji Kakkad Sree Rama Krishna Raju Kamella Vinit Chandulal Lakhani 26 Barnhurst Path Watford WD19 6TT **Burjor Mistry** B J Mistry & Co 7 Hanover Court 112 - 116 Bessborouh Road Harrow HA1 3DU 3 ## **Shirdi Sai Baba Temple Association of London** ## **Trustees Annual Report** ## **For The Year Ended 30th April 2022** The Trustees (who are also directors of the charity for the purposes of the Companies Act) pleasure in presenting their annual report together with the unaudited financial statements of the charity for the year ended 30th April 2020. The Trustees confirm that the Annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" ## **The Trustees** The trustees who served the charity during the period were as follows: Reena Premji Kakkad Sree Rama Krishna Raju Kamella Vinit Chandulal Lakhani ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Constitution** The charity is registered as a members' limited liability company and was incorporated on 23rd April 2009. The charity is constituted under its Memorandum and Articles of Association and is a registered charity number 1138530. In the event of the charity being wound up, any surplus assets remaining after the satisfaction of all debts and liabilities may not be paid to or distributed among the members, but must be transferred to such other charitable institution or institutions having objects similar to the objects of the charity. ## **OBJECTIVES AND ACTIVITIES** ## **Our Vision** To advance the faith for the benefit of the public in accordance with the teachings of Shirdi Sai Baba as set out in the Satcharitra in particular through holding of prayer meetings, lectures, public celebration of religious festivals, producing and distributing literature on Shirdi Sai Baba's teachings. SHITAL is also focused on supporting local communities by offering food distribution and other services. ## **Aims and Objectives** To achieve this vision, SHITAL's aims and objectives during the year were: - To teach social, cultural, moral and traditional values to children, teenagers, youths and adults. - To ensure that legislation and regulation is complied in relation to the impact of change and burden of bureaucracy on charities. - To raise standards by developing and promoting the best practice in the management of charities through training and - To ensure SHITAL remains a suitable organisation through fund raising activities. 4 **Shirdi Sai Baba Temple Association of London** ## **Trustees Annual Report** ## **For The Year Ended 30th April 2022** ## **Volunteers' contribution in achieving the objectives of the Charity** SHITAL enlists the services of more than 250 volunteers nationwide in delivering the aims and objectives of the Charity - The volunteers are organised through a framework involving National and Regional. - Providing services in various departments including security, administration, congregation, organisation, kitchen, audio/video/photography, press &, publicity, finance, youth & children activity, adult activity etc - Organising regional assemblies. The charity depends heavily upon the continuing support of devotees. We also thank all volunteers for the hard work during the year, particularly those working on food preparations, cleaning, organised special events, decorations, cultural programmes and other religious activities and pray that they continue to serve Shirdi Sai Baba in the future ## **ACHIEVEMENTS AND PERFORMANCE** ## **Event during the year** The Charity continues to attract an increasing number of followers each year. This year was no exception, with many devotees and taking part in daily activities. Annual festivals such as Guru Purnima, Ramnavami (birth anniversaries of Lord Rama) , Janmashtami (birthday of Lord Krishna), Diwali and Hindu New Year were celebrated by SHITAL. Weekly congregation organised at all temples & 4 centres to spread Shirdi Sai Baba's message. The assemblies consist of inspiring speeches and thought provoking discussion to devote pride for SHITAL, to bring awareness of the misuse of social networking tools and to strengthen the relationship and attachment to Shirdi Sai Baba. ## **Financial Review** ## **Net surplus:** The net surplus/(deficit) for the charity for the period was £134,855: (2020: £61,424) ## **Risk Management and Investment Policy** The trustees have assessed the major risks to which the charity is exposed, in particular those related to generating income. The trustees have made no risk related investments. A formal review is undertaken regularly to ensure that all surplus funds are invested in bank and building society accounts at best rates of interest. ## **PLANS FOR FUTURE PERIODS** - The charity plans to continue events and activities to achieve its aims. - Initiate “Shree Shirdi Sai Vidyapith” through which charity will be opening education institution across UK and Europe 5 ## **Shirdi Sai Baba Temple Association of London** ## **Trustees Annual Report** ## **For The Year Ended 30th April 2022** ## **RESPONSIBILITIES OF THE TRUSTEES** The charity's trustees are responsible for preparing the Trustees Annual Report 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 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). 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 charity and the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to: - State whether applicable accounting standards have been followed, subject to any material departures disclosed and - Observe the methods and principles in the Charities SORP; - Make judgements and accounting 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 charity will continue in operation. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. 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. ## **INDEPENDENT EXAMINER** Burjour Mistry has been appointed as independent examiner. ## **Signed by order of the trustees** Reena Premji Kakkad 6 BJMistry&Co Phone . 020 8864 4877 Moblla . 07917123 751 Ernail . bu￿Orn11$try Chartored Accountants ol.¢om 7, Han0￿r Court 112-116 B6S8borough Road Harrow Mlddlesex HAI 3DU INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2022 CHARITY NUMBER 1138530 COMPANY NUMBER 6885384 Re rt to the Trustees London Members of Shirdi Sal Baba Tem le Association of RESPEcfivE RESPONSIBIUTIES OFTRUSTEES AND EXAMINER The Ch8ritrVoluntary Income
2
Investment Income
3
**Total Incoming Resources**
**Resources Expended**
Charitable Activities
4 / 5
**Total Resources Expended**
**Net Incoming Resources For The Year**
**Reconciliation of Funds**
Total funds brought forward
**Total Funds Carried Forward**|**2022**
**GBP**
415,899
35
415,934
281,079
281,079
134,855
935,571
1,070,426|**2021**
**GBP**
381,079
34| |---|---|---| |||381,112| |||319,689| |||319,689| |||61,424
874,147| |||935,571| The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared. ## **CONTINUING OPERATIONS** None of the charity’s activities were acquired or discontinued during the above financial periods. 8 ## **Shirdi Sai Baba Temple Association of London Financial Statements 30th April 2022** |**Note**
**Fixed Assets**
- Tangible fixed assets
**6**
**Current Assets**
- Debtors (amounts falling due within one year)
**7**
- Cash
**Total Assets**
**Current Liabilities**
- Creditors (amounts falling due within one year)
**8**
Long Term Liabilities
- Creditors (amounts falling due after more one year)
**9**
**Total Liabilities**
**Net Assets/(Liabilities)**
**Funds**
Unrestricted income funds
**10**
**Total Funds**|**2022**
**GBP**
796,121
796,121
162,481
263,946
426,427
1,222,548
8,287
8,287
143,835
143,835
152,122
**1,070,426**
1,070,426
**1,070,426**|**2021**
**GBP**
781,751| |---|---|---| |||781,751
142,481
191,277| |||333,758| |||1,115,508| |||14,598| |||14,598
165,340| |||165,340| |||179,937| |||| |||**935,571**| |||935,571| |||**935,571**| These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). Approved by the Board on 12th December 2022 and signed on their behalf by: ## **Reena Premji Kakkad** 9 ## **Shirdi Sai Baba Temple Association of London Notes to The Financial Statements For The Year Ended 30th April 2022** ## **1) Accounting policies** ## **Basis of Accounting** The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, the Statement of Recommended Practice "Accounting and Reporting by Charities" issued in March 2005 (SORP 2005) and the Charities Act 2011, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). ## **2) Voluntary Income** |Donations
Gift Aid
Other Income
Bank interest receivable
Main Charitable Activity
Main Charitable Activity
**5) Cost of Charitable Activity by Activity Type**
**3) Investment Income**
**4) Cost of Charitable Activity by Fund Type**|**Unrestricted**
**Total Funds**
**Total Funds**
**Funds**
**2022**
**2021**
**£**
**£**
**£**
363,326 363,326 243,679
20,000 20,000 25,000
32,573 32,573 112,399| |---|---| ||415,899 415,899 381,079| ||**Unrestricted**
**Total Funds**
**Total Funds**
**Funds**
**2022**
**2021**
**£**
**£**
**£**
35 35 34| ||35 35 34| ||**Unrestricted**
**Total Funds**
**Total Funds**
**Funds**
**2022**
**2021**
**£**
**£**
**£**
281,079 281,079 319,689| ||281,079 281,079 319,689| ||**Unrestricted**
**Total Funds**
**Total Funds**
**Funds**
**2022**
**2021**
**£**
**£**
**£**
281,079 281,079 319,689| ||281,079 281,079 319,689| 10 **Shirdi Sai Baba Temple Association of London Notes to The Financial Statements For The Year Ended 30th April 2022 (continued)** |**Cost**
At 1st May 2021
Additions
Disposal
At 30th April 2022
**DEPRECIATION**
At 1st May 2021
Charge for the year
At 30th April 2022
Net book values
At 1st May 2021
At 30th April 2022
HMRC Charities (Gift Aid Receivable)
Other debtors
PAYE
Pension Control A/c
Wages Control
Bank Loan (Mortgage)
Bank Loan
- The Mortgage is secured on the premise Union Hall, Union Road Wembley.
**8)Creditors**
**7) Debtors**
**9)Creditors (Long term)**|Land & Buildings
Other Assets
725,889
54,662
15,570
-
-|Total
780,551
15,570
-| |---|---|---| ||741,459
54,662|796,121| ||-
-
-
-|-
-| ||-
-|-| ||- -|-| ||741,459 54,662|796,121| |||**£**
147,205
15,276| |||**162,481**| |||**£**
967
262
7,058| |||**8,287**| |||**£**
102,663
41,172| |||**143,835**| |||| ## **10) Unrestricted Income Funds** |General Funds
Unrestricted Income Funds
**11) Analysis of Net Assets Between Funds**|**Balance at**
**01 May 2021**
**£**
935,571|**Incoming**
**Balance at**
**Resourcing**
**30 April 2022**
**£**
**£**
134,855
**1,070,426**| |---|---|---| |||**Net Current**
**Total**
**Assets**
**£**
1,070,426
1,070,426| |||**1,070,426**
**1,070,426**| 11 ## **Shirdi Sai Baba Temple Association of London Detailed Statement of Financial Activities For The Year Ended 30th April 2022** |**Incoming Resources**
**Voluntary Income**
Donation
Gift Aid
Other Income
**Investment Income**
Bank Interest Receivable
**Total Incoming Resources**
**Resources Expended**
**Charitable Activities**
Donations
Salaries and wages
Social security
Pension contribution
Fundraising Costs
Garland & flowers
Event Costs
Food offerings
Telephone
Advertising
Rent & rates & utilities
Insurance
Shawl
Repairs and renewals
Cleaning
IT & Computer
Printing costs
Professional fees
Interest paid
Accountancy
Bank charges
**Total Resources Expended**
**Net Incoming Resources For The Year**|**2022**
**GBP**
363,326
20,000
32,573
415,899
35
35
415,934
100
138,792
1,837
1,164
2,281
6,081
-
17,619
5,804
-
67,483
2,927
5,468
2,969
7,480
2,035
78
-
2,933
13,440
2,587
281,079
**134,855**|**2021**
**GBP**
243,679
25,000
112,399| |---|---|---| |||381,079| |||34| |||34| |||| |||381,112| |||-
155,687
1,423
1,112
1,510
14,434
1,458
25,942
4,245
2,194
47,044
2,749
5,736
6,865
7,092
129
7,130
9,148
4,194
15,280
6,314| |||319,689| |||| |||**61,424**| **This page does not form part of the statutory financial statements.** 12