Shirdi Sai Baba Temple Association of London
UNAUDITED FINANCIAL STATEMENTS
30th April 2023
Company number 6885384
Charity number 1138530
Shirdi Sai Baba Temple Association of London Financial Statements For The Year Ended 30th April 2023
| 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
----- Start of picture text -----
Trustees
----- End of picture text -----
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 2023
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" issued in March 2005.
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 2023
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 £137,729: (2022: £134,855)
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.
5
Shirdi Sai Baba Temple Association of London
Trustees Annual Report
For The Year Ended 30th April 2023
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
Sree Rama Krishna Raju Kamella
Vinit Chandulal Lakhani
6
BJMistry&Co Chartered Accountsnts Phono .' 020 8864 4877 Moblle . 07917123 751 Emall . budonnlstry@arbl.com 7. Hanovèr Court 112-116 Be8sborough Road Harnm Mlddlmex HAI 3DU INDEPENDENT EXAMINEWS REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 30- APRIL 2023 CHARITY NUMBER 1138530 COMPANY NUMBER 6885384 Re ort to the Trustees London Members Shirdl Sai Baba Tem le Associatlon of RESPEcfivE RESPONSI8ILmES OFTrusfEES AND EXAMINER The Charltys Trustees are responslble for the prepartlon of the accounts. The charlV$ truste conslder that an audlt Is not requlred for thls year under Sectlon 144 Of the Charltles Art Zoll and that an Independent èxamlnatkln Is needed. The Charws gro Irbcome exceeded £ 250,1XX) and I am quallfied to undert•ke the emamlnatlon by beln8 a quallfied member of Th• Instltirte of Chrtered kcountants In Enaland & Wales. It15 my resps1ty to: Examlne the accounts tsnder sectton 145 of the Charltles Art To follow the procedures l•ld down In the 8eneral dlr¢¢ilons glven by the Ch•rlty Commlssl¢)n l under secllon 145{5}Ibl My examlnatlon c•rrled ¢Art In ac(ance wlth general dlrettlons Ven by th• Charlty c¢mmIson. My examlnallon Inclth a revlew of the accouniln8 record5 kept by the charlty and • compaylson ol the accounts presented wlth those record$. •)d 5eekln8 explanatlons from the truslet5 CIiLeinln¥ any Such matters. Th• proe•dur•5 undertaken do not PrIde all the e¥ldence Ihat would be requlred In an audlL and nsequentlY no oplnlon Is glven as to whether the accwnts present a tru• and falr ¥lev• and thls report Is limlted to those matters set out in the ststement beltr• In ¢onnettlon TA4th my e¥amln•llon, no materlal mattels h•¥e rome to my attentk)n whl¢h 8lves me reasonable use to believe th* In. any materfal respert: the acc(wntlnK records TAve not kept In aceordanee wlth Sectlon 130 of the Charltles Art: or
the acu)unts dld not comply with the accountlw requirements C<teMing the form and content of accnts set (xrt In the tharltles l Accounts and Reports ) Regulatlons 2008 ther thali any IEqulremEnt thp auounts 8fve a vue and fair View **lch Is na¢ matt•r cmsldered as of an Independent examln•tlon. I have come acr05s no other mattÈrs In connectlon vAth th• •xamlnatlon to whlth att•ntlon should be drawn In thls reptyl to emble a proper understandln8 ofthe accounts to be rea¢hed. $18ned ¢y mIry Fcf B J Mlstry & Co. Ch•rtered A(c(wntsnts Prol•sslonal QuallflcatkTh: F.CL l En8 & W•l•sl D•t¢: 29 January 2024
Shirdi Sai Baba Temple Association of London Statement of Financial Activities For The Year Ended 30th April 2023
| INCOMING RESOURCES Voluntary 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 |
2023 GBP 547,793 763 548,556 408,828 408,828 139,729 1,070,426 1,210,155 |
2022 GBP 415,899 35 415,934 281,079 281,079 134,855 935,571 1,070,426 |
|---|---|---|
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
8
Shirdi Sai Baba Temple Association of London Financial Statements 30th April 2023
| Note ed Assets angible fixed assets 6 rrent Assets ebtors (amounts falling due within one year) 7 ash al Assets rrent Liabilities reditors (amounts falling due within one year) 8 g Term Liabilities reditors (amounts falling due after more one year) 9 al Liabilities Assets/(Liabilities) nds estricted income funds 10 al Funds |
2023 GBP 808,985 808,985 222,481 321,212 543,693 1,352,677 12,502 12,502 130,021 130,021 142,523 1,210,155 1,210,155 1,210,155 |
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 |
|---|---|---|
These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the Board on 29/01/2024 and signed on their behalf by:
Reena Premji Kakkad Sree Rama Krishna Raju Kamella
Vinit Chandulal Lakhani
9
Shirdi Sai Baba Temple Association of London Notes to The Financial Statements For The Year Ended 30th April 2023
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 2023 2022 £ £ £ 487,793 487,793 363,326 60,000 60,000 20,000 - - 32,573 547,793 547,793 415,899 Unrestricted Total Funds Total Funds Funds 2023 2022 £ £ £ 763 763 35 763 763 35 Unrestricted Total Funds Total Funds Funds 2023 2022 £ £ £ 408,828 408,828 281,079 408,828 408,828 281,079 Unrestricted Total Funds Total Funds Funds 2023 2022 £ £ £ 408,828 408,828 281,079 408,828 408,828 281,079 |
|---|---|
10
Shirdi Sai Baba Temple Association of London Notes to The Financial Statements For The Year Ended 30th April 2023 (continued)
| Cost At 1st May 2022 Additions Disposal At 30th April 2023 DEPRECIATION At 1st May 2022 Charge for the year At 30th April 2023 Net book values At 1st May 2022 At 30th April 2023 HMRC Charities (Gift Aid Receivable) Other debtors PAYE Pension Control A/c Wages Control Bank Loan (Mortgage) Bounce Back Loan - The Mortgage is secured on the premise Union Hall, Union Road Wembley. General Funds Unrestricted Income Funds 9) Creditors (Long term) 11) Analysis of Net Assets Between Funds 8) Creditors 10) Unrestricted Income Funds 7) Debtors |
Land & Buildings Other Assets Total 741,459 54,662 796,121 12,864 - 12,864 - - 754,323 54,662 808,985 - - - - - - - - - - - - 754,323 54,662 808,985 £ 207,205 15,276 222,481 £ 1,723 608 10,171 12,502 £ 98,553 31,468 130,021 Balance at Incoming Balance at 01 May 2021 Resourcing 30 April 2022 £ £ £ 1,070,426 139,729 1,210,155 Net Current Total Assets £ 1,210,155 1,210,155 1,210,155 1,210,155 |
|---|---|
11
Shirdi Sai Baba Temple Association of London Detailed Statement of Financial Activities For The Year Ended 30th April 2023
| 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 Computer & IT Costs Printing costs Professional fees Interest paid Accountancy Bank charges Total Resources Expended Net Incoming Resources For The Year |
2023 GBP 487,793 60,000 - 547,793 763 763 548,556 - 164,339 3,418 2,172 2,113 19,516 27,915 33,227 5,009 4,593 82,965 3,458 11,964 6,555 3,925 2,582 - 4,168 12,921 8,640 3,882 408,828 139,729 |
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 |
|---|---|---|
This page does not form part of the statutory financial statements.
12