Registered number 1141593
UNIVERSAL HINDU CULTURAL SOCIETY
Report and Accounts
31 December 2022
UNIVERSAL HINDU CULTURAL SOCIETY Registered number: 1141593
The trustees of the Universal Hindu Cultural Society present their report and along with the Unaudited financial statements for the year ended 31 December 2022. The financial statements comply with the Statement of Recommended Practice (SORP) – Accounting and Reporting by the Charities Act.
The charity is registered in England, number 1141593 and is governed by constitution adopted 26th April 2011. The trustees during the accounting period were as follows: -
Nina Sharma Nikesh Sharma Niraj Sharma
The financial accounts have been prepared and This report is applicable to the period running from 1st January 2022 – 31st December 2022.
This year we have arranged cultural dance for Dewali which was attended by over hundred people. Fasting food was served during Navratri to general public. Free Ayurveda medicine were given to needy.
The aims of the Charity for the benefit of the community have been met and the Trustees have complied with the duty in section 4 of the Charities Act 2006.
ON BEHALF OF THE TRUSTEES:
…………………………………………………………………………………… NINA SHARMA - President
Date 2 JUNE 2023
1
UNIVERSAL HINDU CULTURAL SOCIETY
Accountants' Report
We report on the accounts for the year ended 31 December 2022 set out on pages four to eight.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 43(2) of the Charities Act 1993 (the 1993 Act)) and that an independent examination is required.
It is our responsibility to:
-
examine the accounts (under Section 43(3)(a) of the 1993 Act)
-
to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 43(7)(b) of the 1993 Act); and
-
to state whether particular matters have come to my attention.
Basis of the independent examiner's report
Our examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with our examination, no matter has come to our attention:
1)which gives me reasonable cause to believe that, in any material respect, the requirements
-
to keep accounting records in accordance with Section 41 of the 1993 Act; and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 1993 Act
have not been met; or
(2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
CHARTERS ASSOCIATES ACCOUNTANTS & AUDITORS
20 LANGLEY ROAD SLOUGH BERKS. SL3 7AB
2 June 2023
2
UNIVERSAL HINDU CULTURAL SOCIETY Profit and Loss Account for the year ended 31 December 2022
| DONATIONS Charitable Payments Gross profit Operating profit Profit before taxation Tax on profit Profit for the financial year |
2022 £ 48,000 (44,380) 3,620 3,620 3,620 - 3,620 |
2021 £ 125 - |
|---|---|---|
| 125 | ||
| 125 | ||
| 125 - |
||
| 125 |
3
| UNIVERSAL HINDU CULTURAL SOCIETY Registered number: 1141593 Balance Sheet as at 31 December 2022 Notes 2022 £ Current assets Cash at bank and in hand 6,022 Creditors: amounts falling due within one year 3 (8,869) Net current liabilities (2,847) Net liabilities (2,847) Capital and reserves Profit and loss account (2,847) Shareholders' funds (2,847) |
2021 £ 5,573 (12,040) (6,467) (6,467) (6,467) (6,467) |
2021 £ 5,573 (12,040) (6,467) (6,467) (6,467) (6,467) |
|---|---|---|
| (6,467) | ||
| (6,467) | ||
| (6,467) |
The Financial statements were approved by the Board of Trustees on 2 JUNE 2023 and were signed on it behalf by
NINA SHARMA Chairman Approved by the trustees on 2 JUNE 2023
4
UNIVERSAL HINDU CULTURAL SOCIETY Statement of Changes in Equity for the year ended 31 December 2022
| At 1 January 2021 Profit for the financial year At 31 December 2021 At 1 January 2022 Profit for the financial year At 31 December 2022 |
Share capital £ - - - - |
Share premium £ - - - - |
Re- valuation reserve £ - - - - |
Profit and loss account £ (6,592) 125 (6,467) (6,467) 3,620 (2,847) |
Total £ (6,592) 125 |
|---|---|---|---|---|---|
| (6,467) | |||||
| (6,467) 3,620 |
|||||
| (2,847) |
5
UNIVERSAL HINDU CULTURAL SOCIETY Notes to the Accounts for the year ended 31 December 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years Leasehold land and buildings over the lease term Plant and machinery over 5 years Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6
UNIVERSAL HINDU CULTURAL SOCIETY Notes to the Accounts for the year ended 31 December 2022
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
7
UNIVERSAL HINDU CULTURAL SOCIETY Notes to the Accounts for the year ended 31 December 2022
| 2 Employees Average number of persons employed by the company 3 Creditors: amounts falling due within one year Other creditors |
2022 Number 1 2022 £ 8,869 |
2021 Number 1 |
|---|---|---|
| 2021 £ 12,040 |
4 Other information
UNIVERSAL HINDU CULTURAL SOCIETY is a private company limited by shares and incorporated in England. Its registered office is: 20 LANGLEY ROAD
SLOUGH BERKS. SL3 7AB
8
UNIVERSAL HINDU CULTURAL SOCIETY
Detailed profit and loss account for the year ended 31 December 2022
This schedule does not form part of the statutory accounts
| DONATION Charitable Payments Gross profit Profit before tax |
2022 £ 48,000 (44,380) 3,620 3,620 |
2021 £ 125 - |
|---|---|---|
| 125 | ||
| 125 |
9
UNIVERSAL HINDU CULTURAL SOCIETY
Detailed profit and loss account for the year ended 31 December 2022
This schedule does not form part of the statutory accounts
| Donations Donations Cost of sales Charitable Payments Administrative expenses |
2022 £ 48,000 44,380 - |
2021 £ 125 |
|---|---|---|
| - | ||
| - |
10