REGISTERED COMPANY NUMBER: 07399887 (England ind Wale5) REGISTERED CHARITY NUMBER: 1140417 ort of the Trustet Fingnt121 Statements for the Ye#r Ended 31 March 2024 for Pushti Nidhi UK Ltd Sharman Fielding Chartered Accountant5 The Oval 57 New Walk Leicester Leicestershire LEI 7EA
Pushti Ntdhi UK Ltd Contetsts of the Fin¥nrial Statelllents for tlie Year Ended 31 M*rth 2024 Page Report of the Trustees Independent Exgminer's Report Statement of FingllCiAI Activitie5 BglAnce Sheet 5 to 6 Notes to the Financial stateents 7 to 12 Detailed Statemellt of FiDallcial ActiYitie5 IJ to 14
Pu5hti Nidhi UK Ltd ort ofthe Trltstees for the Year Ended 31 March 2024 The triistees who are also directors of the charity for the purposes of th¢ Cotnpanies Act 2006, present their report with the financial statetnents of the charity for the year ended 31 March 2024. The trustees have adopted the provisiong of A¢¢oiinting and Reporting by Charities.. Statement of Re¢omm¢nded Pra¢li¢e applicable to charitie5 preparing their accoiiii15 in accordance with the Financial Reporting Siaiidard applicable ill the UK and Republic of Ireland IFRS 102) (effe¢iiv¢ l January 20191. OBJECTIVES AND ACTIVITIES SignificAnt gctivitie5 The y¢aT elided 31 March 2024 was the Second fiill fInancial year post COVID-19 restrictions being lift¢d when the Haveli opened to the piiblic from April 2022 as per government guidance. Public saf¢ty from th¢ COVID-19 pandemic was the prin)t concem and priority. From April ?022 in the pviouS year we restarted public Event5 as we used to during pre COVID-19 times and we continued to use social media more lo ke¢p in touch with th¢ public. Foi the year ended 31 March 2024 the total income rose by approximately 130/ts to £179k compared to £157k in the previou5 year. Although income rose there was a defjcit of £34k coEnpared to a surplus of £7k in the previous year. This MQS due to total expenditure increasing by 41 /0 to £212k ¢ompared to £150k in the previoiis year. The tnain re0Th for the increase in expenditure was due to the roofIng repair5 and increase in light and heat due to significant increase in energy prices. The Trustees and the ExecutEve Conllnittee wish to expre55 their thanks to all our supporters and volunteer5 without whose help 3ad generosity, it would tLOt be possible to manage the day to day affairs of the Haveli. ACHIEVEMENT AND PERFORMANCE Fundrgising gctivities The principle sourG¢ of futLd5 were frotn donations from devotees and well wisher5. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and con$titute$ a limited company. limited by guarantee. a5 dcfined by the Cotnpanies Act 2006. RETrLRbNCE AND ADMINISTRATIVE DETAILS Registered Company nurnber 07399887 (England and Wales) Reglstered Charity number 1140417 RegLSt¢red office 504 Melton Road Leic¢st¢r Leicestershir¢ LE4 7SP Trustees A R Patel A M Patel N R Patel N Saiijani A C Tanna P B Thakrar Page I
Pllshti Iyidhi UK Ltd Re ort of the Trustees for tht Year Ellded 31 MAreb 2024 REFERENCE AND ADMINISTRATIVE DETAJLS Indepelldent Examiner Sat]de5h Je5rani FCCA Shamian Fielding Chartered Accountants The Oval 57 N¢w Walk Leicester Leicesler5hire LEI 7EA Approved by order of the board of tnlee$ oll.. 2 5- 1 Z- &9.24<. and signed On Its behalf by- A C Tat]na- Trustee Page 2
Inde endent Examiner s Re Pushti Nidhi ort to the Trnstees of Ltd Independent exgminer's report to the trustees of Pushti Nidhi (UK) Ltd {'the Company,) I report to the charity triistees on my examination of the accounts of the Company foi the year ended 31 March 2024. Re5pon5ibilities gnd bgsis of report As the charity'5 trustees of the Company land a150 its directors for the piirposes of company lawl you are respon5Lble for the preparation of the accounts in accordance with the requirements of the Cotnpanles Act 2006 {'the 2006 Act,). Flaving satisfied myself that the accollnts of the Company are ntst required to be audited under Part 16 of the 2006 Act and are eligible lor iiidependent examination. I report 111 respect of my examination of your ¢harity'$ accounts a5 carried out under Section 145 of the Charities Act 2011 I'ihe 2011 A¢t'l. In carrying out tny Examlnation I have followed the Dir¢ction5 given by the Cliarity Commission under Section 145151 Ib} of th¢ 201 l A¢t. Independent exgminer's ststement I have completed my examination. l ¢onfiTtn thAt no matter5 have come to my attention in c0jection with the examination givtng me cause to believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act. or the accounts do not accord with those record5. or the accounts do not comply with the a¢¢ollnting requireinents of Section 396 of the 2006 Act other than any requiretn¢nt that the accounts give a true and fair view which is not a matter considered as part of an independent examination. or the accounts have not been prepared in accordance with the methods and prin¢ipl¢s of the StAtEm¢nt of Recommended Practice for a¢¢ountJrtg and reporting by charities {applicable to charities preparin8 their aourtts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ire12nd IFRS 1021). I have no concern5 and have come across no other matters in coje¢tiOll with the examination to whi¢h attention should be drawn io this report in order io enable a proper understanding of the accounts to be reached. Sandesh Jesrani FCCA Sharnian Fielding Chartered Accountants The Oval 57 New Walk Leicester Leicestershire LEI 7EA Date.. Page 3
Pu5hti Nidhi UK Ltd Balance Sheet 31 Mwrch 2024 31.3.24 u[estriCted fiind 31.3.23 Total fiinds Notes Fixed assets Tangible assets 837.242 839,248 Current a55et5 Debtors Cash at bank and in hand 8,376 66,708 10.555 102.268 75.084 112.823 Creditors Amounts falling due within one year 10 145,1501 141,5191 r4et current gssets 29.934 71.304 TotAI Assets less current liobilities 867.176 910.552 Creditors AJnount5 falling due after more than one year 1203,6481 {213,2971 NET ASSETS 663,528 697.255 Funds Unrestricted funds 14 663.528 697,255 Total funds 663,528 697,2S5 The chariiablc company 15 entitled to exemption from audit under Se¢tion 477 of the Companie5 Act 2006 for the year ettded 31 Mar¢h 2024. The members have not required the company to obtain an audit of tts financial statements for the year ended 31 March 2024 ill accordallce with Section 476 of the Companies Act 2006. The trustees acknowledge thr responsibilities for lal ensuring that the charitable coinpany keeps accounting re¢otds that COpIY wth Sections 386 and 387 of the Companies Act 2006 and preparing fjnancial statements which give a tnEe and fair view of the state of affairs of the charitable ¢ompany as at the end of each fLnan¢ial year and of its surplu5 or deficit for each financial year in a¢cordance with the rquirements of Sections 394 and 395 and whi¢h Other5¢ cotnply with the requirements of the Companies Act 2006 relating io financial stattments, so far as applicable to the Charitabl¢ company. (b) The noies fomi part of these financial statements Page 5
Pushtl Nidhi Ltd Balance Sheet- ¢oDtie 31 March 2024 Thes¢ f]nanci81 stalement5 hav¢ been prepared in accordance with the provisions applicable to ¢haritable cornpanies subject to the small companies regÉme. Th¢ firwicial ststements were approved by Èhe Board of Trustees and authori$¢d for issue were signed on its behalf by- on A C Tatu]a- TnE5ttt The notes fom part of thc5¢ ftnancial stat¢mcTrts Page 6
Pu5hti Nidhi UK Ltd Notes to the FinaThciRI Statements lor tht Yt#r F.rtd¢d 31 larCh 2024 Accounting poIities Ba515 of preparing the financial 5tAtemetkt5 The rtnaiicial stateinents of the charitable company, which is a public benefit ¢iitlty under FRS 102. have been prepared in accordance with the Charitie5 SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recomniended Practice applicable to charities preparirtg their a¢¢ounts in a¢¢ordaiice iviih the Financial Reporting Staiidard applicable ui the UK ld Republic of Irelattd IFRS 1021 {effective l January 20191,. Financial Reporting Standard 102 'The Financial Reporting StsndaTd applicable in the UK and Repllblic of Ireland, and tlie Cotnpaiiies Act 2006. The flnancial statements have been prepar¢d under the hi5tOTical cost convention. Income All income is recogllised in the Statement of Financial Activittes once ihe charity has entitletnent to tlie funds, it is probAble tliat the in¢ome will be Teceived and the amount can be rtiea5ured reliably. EKpenditure Liabilities are recognised as expenditure as soon as there is a legal or Constructive obligation commttting the charity to that expenditure. it Is probable that a transfer of economic benefits will be requIred in stttlement and the amoiint of the obligation can b¢ meosllred reliably. Expenditure is accounted for on an accruals basis and has been classified undtr 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 ba515 consistent with the llse tsf resources. Tangable fixed assets D¢pr¢ciation is provided at the follofflng Annual rates in order to write off each asset over its estimated usefvl life. Fixtures and fittings 150/0 on reducing balance TgX•tion The charity is exetnpt froTll corporation tax on its charitable activities. Fund accounting Unrestritted fllnds can be used in accordance with the ¢haritable objectives al the discretion of the trustees. Restricted funds Can only be used for particular restricted purp05¢5 Ilithitj th¢ objects of tlie charity. Restrictions ari%e Mljen specified by the donor or WI funds are raised for p8rti¢ulèr restricted purposes. Further ¢xplanation of the nature and purpose of ¢ach fund is included in the note5 to the financial statements. Pension costs and other post-rttirnment benefit5 The charitable company operates a defjned contriblltion pension scheme. Contributions payable to the charitable company'5 pen5lOti scheme are charged to the Statement of Financial Activities in the period to whi¢h they relate. Page 7
Pushti Nidhi UK Ltd Note$ to the Finan¢iAI St2d tements- eontinued for tlje YeAr Lnded 31 Marrh 2024 Other activitie5 31.3.24 31.3.23 Fundraising event5 104.879 75.245 Investment income 31.3.24 31.3.23 Interest re¢eivable- trdding 1.665 500 Net iNcornd{expenditure} Net incomellexpenditurel is stated after chargin(CredItingl'. 31.3.24 31.3.23 DepreciatLOll- owned assets 2.006 2.360 Trustte$' remllner8tion and benefits There w¢re no trustee5' retnuneration or other benefjts for the year ended 31 March 2024 nor for th¢ year ¢nd¢d 31 March 2023. Trustee5 expens There were no trU5tees' expenses paid for the year ended 31 MArch 2024 nor for the year ended 31 March 2023. St9ff costs The average monthly nu]nber of employees during the year was as follow5.. 31.3.24 31.3.23 Adinini5trative and support s¢tvi¢¢s NO employees received emoluments in excess of £60.000. Cornparatives for the $tgtement of finAncig1 activitie5 Unrestricted fi]nd Jneome And endowinents fro Donation5 and lega¢ies 60.151 Grglits Shire Grant Telephone Proje¢t 1.000 Other activities Inv¢5trnent income Other income 75,245 500 20,963 Total 157.859 Pag¢ 8
P115hti Iyidhi UK Ltd Note5 to the Financial Stateinents- tonttnued for the Year Ended 31 March 2024 Comparatives for the statemeNt of financial activitieg- COlltÉnued Unrestricted fijnd Expenditure on Charitable activities Social Ex¢ursions Music and Soiind Sy5ten15 Shire Grai)t Teleplione Project 1,060 3,695 860 Other 144.8)9 Totil 150.444 NET INCOME 7,415 Reconciliation of funds Total funds brought forward 689,840 Total funds cArried forwArd 697.255 Tangible red a55ets Fixtures and fittings Long leasehold Computer equipmeni Totals Cost At l April 2023 and 31 March 2024 825,879 58,797 1,963 886,639 Depreciation At l April 2023 Charge for year 46.633 1.825 758 47,391 2.006 At 31 March 2024 48,458 939 49,397 Net book value At 31 Mar¢h 2024 825,879 10,339 1,024 837,242 At 31 March 2023 825,879 12.164 1.205 839.248 Page 9
Pu5hti Nidhi IIK Ltd Note5 to the FÉnancial St4?teinent5- Coiltinued lor the Year End¢d 31 Marrh 2024 Debtor$.' Imounts falling due within ont year 31.3.24 31.3.23 Other d¢btor5 Prepayments 1.563 6,8 13 3.742 6.813 8,376 10.555 io. Creditors: gmouDts f911ing due within one y¢gr 31.3.24 31.3.23 BaTth loans and ovcrdrafts {ste note 121 Social security and other taxes Othcr creditors Accwals and d¢ferred income 9,889 461 15,508 19,292 9,889 3,372 11.354 16,904 45.150 41,519 Creditors: Amounts fAlling due after more th8n one ye#r 31.3.24 31.3.23 Bank loans (see note 12} 203,648 213.297 12. An analysis of the maturity of loans Is given below-. 31.3.24 31.3.23 Amounts falling due w2thin one y¢ar on demand.. Bank loan5 9,889 9.889 Amounts falling bttween one and two years.. Bank loans . 1-2 years 9.889 9,889 Amount5 falling du¢ between two atld fi years.. Bank loans- 2-5 years 29,667 29,667 Amounts falling due in mor¢ than fjve years.. Repayable otherwise than by instal]nents'. Bank loans- more than 5 years 164.092 173,741 Page 10
Pu5hti Nidht UK Ltd Note5 tu the Financial Statements- continued for the l'ear Ended 31 March 2024 13. Secured debts The following s¢¢ured debts are included within creditors.. 31.3.24 31.3.23 Bank loans 213,537 223.186 14. Movement in fun¢ts Net movement in funds At 3 113124 At 114123 Unre5trieted flld5 General fijnd 697,25S 133,7271 663.528 TOTAL VUNDS 697,255 {33,727} 663,528 Net movement in funds. included in the above are as follows= Jncoming resources Resource5 expended Movemeni In ndS Unrestricted fund5 General fvnd 178.688 1212.4151 133,7271 TOTAL FUNDS 178.688 1212,4151 (33.727 Comparitives for movettLeDt in fuDds Net movement in fuiids At 3113123 At 114122 Unrestricted fuDds General filnd 689,840 7.415 697,255 TOTAL FUNDS 689.840 7.415 697,255 Pagell
Pushti Nidhi UK Ltd Notes to thc Finincial Stgt¢ment$- continued for tlje Year Ended 31 March 2024 14. Movernent IR fUd$- ¢ontinu¢d Comparative net movement in funds, io¢lud¢d in the above ar¢ as follows.. Incoming resource5 Resources cxpended Movement in fiinds Vnrestricttd funds Gejieral fund 157,859 1150,4441 7,415 TOTAL FUNDS 157,859 1150,4441 7.415 A cllrrent year 12 months and prior year 12 months combined position is as follows.. Net At 3113124 At 114122 in funds Unrestrttted funds General fund 689.840 (26,312) 663,528 TOTAL FUNDS 689,840 126,3121 663,528 A ciirrent year 12 months and prior year 12 months combilled net mov¢ment Èji funds, included in the above are a5 follows.. In¢omirtg resources Resour¢es expended Movement in fvnds Unrestrieted funds General fund 336.547 {362.859} (26,312 TOTAL FUNDS 336,547 (362,8591 126,312} Is. Related party dT5cIosure5 There were no related party tran5action5 foT the year ended 31 March 2024. Page 12
Pushti Nidhi UK Ltd Detailed St9temettt ofFirt2titiil Activities for the I'ei?r Ended JI Marf h 2024 31.3.24 31.3.23 Income ondowment$ Donations and legacit5 Gifts and Donations Income.. Other 46.312 60,151 Other gttivittts Fundraising eveiits 104,879 75,245 Investment income Int¢iest rt¢¢ivable- trading 1,665 500 Grants Sliire Grant Telephone Project 500 1,000 Other income HMRC GiftAid 25.332 20,963 Totgl intoming ruource$ 178,688 157,859 Expenditure ChArit&ble Activities Shir¢ grant telephone prDje¢t Group Costs 860 4,755 4.151 4.332 5,615 Support tosts FiN#nee Bank chÈrges Bank Loan Interest 377 16,512 J54 11.656 16,889 12.010 Other Wages Pensions Insurance Postage and stationery Sllndr2es Charitable Donation Rent and Rates Light, Hcat and Fuel Telephone RepaLTS and Renewals Cleaning Carried forward 48,731 441 3.153 1,197 17.667 32.021 415 2.649 3,500 17,367 653 30,876 17,62i 562 9,983 2.335 117.984 26,117 562 33,960 2,500 165.656 Thi5 page does not fomi part of the statutory financial statements Page 13
Pu5hti Nidhi UK Ltd Detailed Stgtemtnt of Firtknti#l Attivittes for the Year Ended 31 Mdirch 1024 31.3.24 31.3.23 Other Broiight forward Flowers P115hti Prashadi costs ImmigTation Servi¢es- Visa Fees et¢ Advejtising costs Kalyan Prashadi costs Pathsala expenditure Saptha costs World Pay Flights Legal Fees Adhik MAas Katha costs Depreciation of tangible fjxed assets 165,656 3.273 8.053 3.813 200 982 117.984 2,594 4,386 2.218 79 311 672 2,240 1.288 2,270 2,215 1,413 2,006 2,360 191,194 132,819 Total resources expended 212,415 150,444 Net (exp¢ndEturelliThcot 133,727) 7,415 This page does noi fomi part of the statutory financial 5tatetnents Page 14