2024-04-30-accounts - Shirdi Sai Baba Temple Association Of London

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

Shirdi Sai Baba Temple Association of London

UNAUDITED FINANCIAL STATEMENTS

30th April 2024

Company number 6885384

Charity number 1138530

Shirdi Sai Baba Temple Association of London Financial Statements For The Year Ended 30th April 2024

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

==> picture [31 x 6] intentionally omitted <==

----- 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

Shirdi Sai Baba Temple Association of London

Trustees Annual Report

For The Year Ended 30th April 2024

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.

Shirdi Sai Baba Temple Association of London

Trustees Annual Report

For The Year Ended 30th April 2024

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 £796,906: (2023: £139,729)

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

Shirdi Sai Baba Temple Association of London

Trustees Annual Report

For The Year Ended 30th April 2024

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

Shirdi Sai Baba Temple Association of London

Independent Examiner's Report To The Trustees of Shirdi Sai Baba Temple Association of London

For The Year Ended 30th April 2024

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The charity's trustees are responsible for the preparation of the accounts. The Charity's trustees consider tat an audit is not required for this year under section 144 of the charities act 2011 and that an independent examination is needed.

It is my responsibility to:

Examine the accounts under section 145 of the Charities Act
To follow the procedures laid down in the general directions given by the Charity Commission
(under section 145 (5)(b)
To state whether particular matters have come to my attention

My examination was carried out in accordance with general directions given by the Charity Commission. My examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presents with those records, and seeking explanations from the trustees concerning and such matters. The procedures undertaken do not provide all the evidence that would be required in a audit, and consequently no opinion I given as to whether the accounts present a true and fair view and this report is limited to those matters set out in the statement below.

In connection wit my examination, no matter has come to my attention:

(1) Which gives me reasonable cause to believe that in, any material respect, the requirements:
to keep accounting records in accordance with section 130 of the Charities Act
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have been met, or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached

Signed:

Date:

Professional qualifications:

Address:

Shirdi Sai Baba Temple Association of London Statement of Financial Activities For The Year Ended 30th April 2024

INCOMING RESOURCES Voluntary Income 2 Investment Income 3 Other Income 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	2024 GBP 572,060 2,511 750,000 1,324,571 527,664 527,664 796,906 1,210,155 2,007,061	2023 GBP 547,793 763
		548,556
		408,828
		408,828
		139,729 1,070,426
		1,210,155

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.

Shirdi Sai Baba Temple Association of London Financial Statements 30th April 2024

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	2024 GBP 2,438,011 2,438,011 193,348 301,402 494,749 2,932,760 31,083 31,083 894,615 894,615 925,699 2,007,061 2,007,061 2,007,061	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

These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the Board on and signed on their behalf by:

Reena Premji Kakkad

Sree Rama Krishna Raju Kamella

Vinit Chandulal Lakhani

Shirdi Sai Baba Temple Association of London Notes to The Financial Statements For The Year Ended 30th April 2024

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 2024 2023 £ £ £ 512,060 512,060 487,793 60,000 60,000 60,000 - - -
	572,060 572,060 547,793
	Unrestricted Total Funds Total Funds Funds 2024 2023 £ £ £ 2,511 2,511 763
	2,511 2,511 763
	Unrestricted Total Funds Total Funds Funds 2024 2023 £ £ £ 527,664 527,664 408,828
	527,664 527,664 408,828
	Unrestricted Total Funds Total Funds Funds 2024 2023 £ £ £ 527,664 527,664 408,828
	527,664 527,664 408,828

Shirdi Sai Baba Temple Association of London Notes to The Financial Statements For The Year Ended 30th April 2024 (continued)

Land & Buildings Other Assets 808,985 54,662 824,364 - 750,000 - - -	Land & Buildings Other Assets 808,985 54,662 824,364 - 750,000 - - -	Total 863,647 824,364 750,000 -
2,383,349	54,662	2,438,011
- -	- -	- -
-	-	-
-	-	-
2,383,349	54,662	2,438,011
Balance at 1st May 2023 £ 1,210,155	Incoming Resourcing £ 796,906	£ 166,839 15,276 11,233
		193,348
		£ 17,619 1,453 12,011
		31,083
		£ 873,598 21,017
		894,615
		Balance at 30th April 2024 £ 2,007,061
	Net Current Total Assets £ 2,007,061 2,007,061
	2,007,061 2,007,061

Shirdi Sai Baba Temple Association of London Detailed Statement of Financial Activities For The Year Ended 30th April 2024

Incoming Resources Voluntary Income Donation Gift Aid Investment Income Bank Interest Receivable Total Incoming Resources Resources Expended Charitable Activities Salaries and wages Social security Pension contribution Fundraising Costs Garland & flowers Event Costs Food offerings Telephone Advertising Travelling & subsistence Rent & rates & utilities Insurance Shawl Repairs and renewals Cleaning Hall Hire Charges Website & software Computer & IT Costs Printing costs Professional fees Interest paid Accountancy Bank charges Total Resources Expended Other Income Property Revaluation Net Incoming Resources For The Year	2024 GBP 512,060 60,000 572,060 2,511 2,511 574,571 220,483 10,642 3,025 7,141 25,286 6,752 23,351 5,598 10,629 5,091 123,268 5,417 5,725 21,016 575 12,966 1,642 836 17,046 2,661 198 12,470 5,845 527,664 750,000 796,906	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 5,466 - 2,582 - 4,168 12,921 8,640 3,882
		408,828
		-
		139,729

This page does not form part of the statutory financial statements.