REGISTERED COMPANY NUMBER: 07629Q43 nd WAles) REGISTERED CHAIUTY NUMBER: 1142610 Rtyort Of theTrnilee4 Rd Flxantil Stst¢me4ts (or the Yer Endtd 31 May 2024 for Orn SAr•vaDbhaM Sev TTU {A Co)wDy Limltod by Gu*r#Dtee) BBK P1p & Ststtltory Auditth¥ l B¢auchamp Court 10 Vi¢tOf5 W EN5 5TZ
Om SaT•vanfflbhva Sev Tnut ConteDts of the St•tements for tk¢ Yur EndJ 31 My 2024 P•ge Rtport ofthe Ttee9 (llltorptsnthig rfr•¢ and dir¢rtors repo} Report of the l•dqJe•den¢ ststemeHI of FIDnelAI AetMdt4 10 St#temenl olFlll••tll Pothlo Stteffj¢Trl of Cth TrIoT 12 Note8 to tht Sts¢•eDI orCh Flo 13 Nole4 to the FIMndal StstemeAts 14 to 23 Dthlled StatemeDI of Fln•ndl Artlvh 24 ty 25
Omb Sravbb1V1 Seva T1 Rert of the Trustees (lncoryffjrato Ind dir¢¢tors reports) for tht Ver Ended 31 M•y 2•24 The Trustees pres¢ni their rewrt and tk at¥JitrAJ financial statements of the charity for the Ye ended 31 May 2024. The trusttts have adopia the pn)visions of the Sthtcment of RrAommeTwJed Practi¢e {SORPI 'AeKounting and Rwrting by Chariti¢s- in preparin8 the report 8Dd financial sthm¢nts ofthe clwity. Th¢ financial ststements ve b¢¢ rKepfyrtd in cordarKe with the ti)untin8 pli¢ie5 8¢t in notes tr) the C4)YS nd mplY with the charity8 govffning dU¢E the Chan"ties Aet 2011 aDd A¢couniirt8 Reporttng by Choriiies.. Staomeni of Recommended Praaice applicabl¢ to ch¥rtiies preparin8 th¢ir ac¢ounts in xe1)Td with the FinAn¢ial ReFK)rting Sthndard appIlble in the UK and Republic of Irela1 publislxd in (ktober 2019. owEcrivES AND AcnviTILS Objeetlves and •irns Th¢ Charity'$ objt5 are SpIficallY restrided ¢0 the following: l. To promo the education for tl public benefrt of people the 88e of 25 ycats in South Ea Asia includin8 South India and Sri 14nk 2. To r¢lieve finat)c1 hard5hip4 either generntly or iNiividuaily for d wple livin8 in South Elsi Asia irKludin8 Souih India and Sri Lank4' 3. To relieve Jicknes$ PerVe the heth of people living in South Fast Asia incl1& South India and Sri L8nk4' 4. To proJTh)te tdu¢aiional and reli8ifYJS activities gknbally includin8 UK and Europe. To fityther its ObJty the Charity may: . Or8ani5c events and &Trthge activiti to rnis¢ fimds for w8res8 I pro1w1)n of the COMMlty ¢¢ntr¢ and objective$ of the TrusL . Esthblish Reli8ious and Educational Inslitutions forth¢ benefits of the Comrnunity: . Raise funds invite and receive ntr1j1•0nS frorn person or pttsons by way of subs¢ripiions and otherwi6¢ providtyj thai the Trust shall not undertake tr18 activTties in raising for the said objects. and . Inv¢st the monic5 of the Tnui imm¢diat¢ly required for the ld obJtIVeS in or $wh inv¢sthiettt, securiti¢5 or pn)pety ws rnay be thought fi4 wbjed nevertheless condiii(ths (if atty) for the tirne bein8 bt inwsed r required by l#w. Publlc beneflt ID setting oui the obj¢¢tiv¢s and planning the aclivitie4 the trth5 ¥¢ givert c4rEful eon$id¢ration to wmplyin8 with the duty in Stt¢ion 17 of the ahtrities Aa 2011 hav¢ rewd to the pthlie lD¢fft 8uidwKe published by the Charity commilon. The Chwity has also a¢hi¢ved the PbIle benefit obirftives by rn¢din8 the spiritud requirements of the congregation. This w&s a¢hieved by IK>ldin8 the daily Fwja5. arti discourses. All key ft#11 WMI religirS dAtes tre obmed ond celebr4kd by th¢ d¢votees. Volynteen The Charily ded5 heavily up)n th¢ ¢ODtinui08 siippJri of devottes for its swxss. The effotts and dedi¢ation of th¢ volunteers is integral kn the prOsrity of the Charity. We also thank ] volunkers for the hard during the year, particul#rly those working within the arw of buildin8 atxf f&¢ilitkts rn2na8emenL v•riow ¢du¢tional cleanin or8&nised special ¢v¢nty de¢orttioffj, and bk office support and othEr r¢ligious activiti¢5 and pray that they ¢ontinue to serve in ihe fvtyre. It is difficul¢ to quwrtify th¢ nunther of volutsy served by the devote¢5. for which we remain indebigd. STK4TEGIC REPORT Aehievemen¢$ perfonnanet Chritbl¢ ictivitie The ThiMee5 ar¢ pl¢aJ ts re Im this year io whith the Cfvrity fulfill¢d its objectiYe5. All fimds rtceived during the year have been spplied in meeting Ik Charity's Ch]fab]e objKtives. Any surplus¢s arisin8 from donations And otheT incorne hekl forthe ben¢fft of the C$ OpttiOnS.
Om SArnV#mbha Sevx Tn¥t Rep)rt of lh¢ Tnmlea {IneoryMbrnting JiY•tegle diveetou rep)rtJ) for th¢ Yur Eded 31 May 2024 srL4TEGIC REPORT Aehievemtnts ind perfonllknee FundrnisiD8 Ctivi¢les The Charity depends heavily uiw)n th¢ wrtinuin8 $UPPOrt of devirtees. We lso all vol¢¢¢¥5 for their hgrd rk during the year. particularly tIMxe w01n8 within the are of Prath&l preparations various eational ¥tivities, car PaTk duties cle4nin& organrsed sp181 ev¢nW d¢ln4 and other reli8iOU5 ¥tivitie$ and prny that they conlinue serye the Ttust in the fvture. Flnntial r¢vl•v Flnnci•l 1110 The Sthternent of FinarKial Aaivities (SOFA) shows in¢(¥ne and expthlitw¢ for the year. The SOFA alxl shows thE financiBI xtivity octhe ChBrity'. At 31 May 2024. the Chtrrty IxJ nei assets of£2,017.948 (2023 - £2.112595 Ineom¢ Tot41 inwme of £560.560 decre41 from ihe pmious year by £1575,022. Inv•tment pollty •nd •bJectlve8 Thc Trustees, inv¢stm¢M FxhverB allow the Trustee5 to inve4t swplus fvnds to ¢T11¢ income whi¢h to fund future aetivities. The Trus¢¢es' investment l1¢y is to aim for tsfety. commensur8tc with imm¢di4 attd plarnKd spending r¢quirements and given the current uertaInli¢S in the finarKial markets, the Tre$ wnsider it wropnatr tr) be holdin8 funds in dtrA)sit nts wh¢r¢ thcy tKhieve a r¢¢unL Regerve5 pollry Th¢ increase in unr¢striaed reseples tots]ing w £2.017,948 (2023 - £2.111595). tndiutC5 ¢hit there ort no makria] risks tr> ihe Trn5t's ability to opernte a$ 4 going wrKern. A$ • resulL the accounts have been prtpw¢d on a going coJKern b48ig. The TTUStees hwe Confied thaL Afttr etreful review of the re5uv¢$ policy. the $1 appropriat¢ me&surc of re5erveg for the Charity is by reference to th¢ Charity's liquidity position. As th 31 May 2024, in considerin8 the adequacy ofthe rves, the Trusts have 8 reasonable exp¢dalion the Chtirity h95 adequate resour¢¢$ to continue in operation41 tXj5ten¢e for ihe foreseeabl¢ fithjre. For this re4SON ve c4)minued the c*)ncem b4si5 concepl in pr¢parin8 ihe statements. The TTUStees nSIder the key of sustointibTlity for the Ch8rity to bt ¢umf and tUre liquidity cover, rather than th¢ surplus or defi¢it A¢¢ounting position. A5 8 consequcncc, thc TTUSt¢es hv¢ set appropri4t¢ reseThc5 policies Ihting to Ii9ULdity based on thr rrlationship readily reaiisable assets. on%oin8 l¢vel of dolwtions re¢eiv¢d. and the cash reqU1m¢nI$ 8S50ciated with sustainin8 th¢ Charitys opeNions for ayear. In est•bli$hinR this rM)licy, the Bovd of Tntee5 LxMduc45 an kDUal review of the level of wir¢strieteAI resery¢s in the general fund by considering risks as181¢4 wilh the various incom¢ streams, expenditure pl$ And b¢¢ sheet it¢ms. This enables an estimat¢ to be made of the level of reserves that #re suffJ¢ient: - tr> dlow (ime for remanisition in th¢ event of a in i0¢ or asset valy¢5' to protect Ongoing charitable projecw and . to allow the Charity 10 rtjeet its obiedives. Page 2
Om Sxr•vanlJbv Seva Trm Rert of the Trnstees Trysleu (ltyeorptsmtlng thtegb¢ •ttd direrton rtp)rts) for th¢ Yur Ended 31 MAY 2024 STRATEGIC REPORT Finanehl revlew Risks and issues considered by the Board of TnL5¢tt5 in makin8 this jmeM on the level of unthcted ru¢rv¢5 include.. . likelihd of a doiLturn in income stre8m&' - year of ¢im¢ requirtd to TeStablish i)Me slre . yetr of time required dowrL4ize the Charity operThs' ethe1th¥¢ is 1¢9¢¢ control Overb1 aThJ . requiremen¢$ for 8 TOnable level of workin8 ¢apithl. The Ttwte¢8 are of the view with minimum annual ineomt of £500,000. mAintAining cash reseTves of at le&8t £50.000 will provide $uffKi¢nt r¢souTttS in the everf of kn wnditions. The Trustees have also &45e5s¢d other operalional aThJ busirs8 riyk5 wbich tlKy fac¢ and firnI that have estsblish>J systems to rni¢i88t¢ th¢ significant risks. In the evem of the Charity facing diffi¢uh fintIll Cir51anC¢4 this would allow il lo wntinue opernions durin8 a year of managed adju5tmeM w these C1M5. The Tn¢£¢$ rtvi¢w th¢ Clwity'5 reserves p)licy annllY and are $ISfied with this level of cath regerves At the of 2024 and we confident that the ¢ash rtseTv¢5 4711 continue increw in subgequenE years. Llwi And R¢gwl•tiows The trusiees reeo8ni$e their s¢attnOry obligation5 Under the Cnrnpgni¢s Aci 21J)6 and the Charities Ad 2011 to pr¢p&re and file annual fin8n¢iai statements wtthin the required dellines. Due ty the Nvluntary nature of the trustee board and unforeseen prtssures on trustees, lime arising from persoD gnd professional g)mmitments, the filing of these financial statements h¥s r¢8rett8bly been delayed bwnd the slaluw deadline. The trustees #cklwI¢dgc the Imw)rtar of tim¢ly complittnte with all legal and regUlary requirements and hove tsken steps to ensure that such del8ys Ikb not Ur. New InletS have been appointl to strensth¢n the b0d and to provide additional capaeity and oversig. EAhted prredur¢s and ¢ontsol$ how¢ alw been implemented to better m48¢ statury reportin8 and governon¢e responsibilitie$ 80in8 forward. The trustees remoin wmmitted to upholdirt8 th¢ highest stondards of 8overnwJ¢¢ and regulOry complianee. and will tttinuc to rewew and improv¢ tn1¢rn41 processes lo ett$Te ¢hartty meets 1 of its1¢8al obligaiions in e tirnely mann¢T. Rlsk mnAg¢meTrt The TrfeeS hove infornwl risk mwmert straie8y thich cg>mpris¢s: . Ongoing r¢vi¢w of the risks the Chariiy may (8¢e' - Esthblishment of $ysttms and pro¢edUS io mitigate those risk%. aThl - Implementation of prcrtedures dt5i8ned to minimise any tential imw on the Chariry should thosc risk8 rnateriali5¢. The B0d of Trusiec5 15 SPoIL51bj¢ for the management of the risks fac¢d by the Th. Considtr#tion of such risks is made on dn infornl on80in8 bL8is a4 ¢ontyols to miti8ate risks e r¢vi¢wed on an ongoing in(Onn b1$. A review and assessmem of these ¢ontrols 1$ UleTken on an annual basis. Through the abov< the Tn¢¢ are sAtisfied that major risks lderttifi are sub9e4uertty rniti8ated where necessary. It is recognised thot syytcrns can only prnvid¢ r¢8xJnable but ablu assurnnce th rnaior risks have been 4d¢quately m#na8ed. Th¢ activities of the Charity are deFKnd¢nt on its ability to raise fimds from don1cl)s. The key risk frr 2023 therefor¢ 1$ the Charity's ability se¢ure onBoing funding tt) suptKJrt the buildin8 of the community centre and templt. The Trustees co$1d this risk to b¢ low as its donor$ 2r¢ diverse and very 5UPP)rtive. The tharitable eXltur¢ 15 IBTgely dis¢r¢tiOD8ry and be r¢duc¢d mitigate a subthtial redLx*ion in in¢4)m
Om SsrAV•Dikn4 Sew Tnt Report of the TteeS This¢ees (iDrorporAting ¥81¢ direetors reports) for tbe Year Ended 31 May 2024 STRUCTUR GOVERNANCE AND MANAGEME Governlng doe¢01 Th¢ rhaTity is controlled by its governing docu( a de•A of tru$4 wnstiipfju a limited ¢ompany. limit&J by 811ararttee, &8 defina by the Companies Act 2006. The or&iS&ll0 is a charitable company limited by gLMranlK incorrtrd on 10 May 2011. The CoMY WAS established under a MeTty)r8ndum of Aw¢l4U which estsblished the obJts and powers of ihe wmpany aDd is overned under its Artieles of Asla$10n. In the event of cornpgny b¢in8 wowd up. ttmbers #r¢ r¢4uired to C4)ntribu an amount rM)t ¢x¢e¢ding £10. R¢cThitment Ind Appolntmemt of M•nAteJmnt Commltt•e The directors of the company are also tharÉty In]sle¢s for the PUTPJ5e of charity law and under the compAny's Articles members of the mana8em¢nl committe¢. Under the requtrem¢nts of newly adopicd MeMom and Articles of Aysocialion, new dirrtir5 of the Managem( Committee can only be nominated by the incumbent direclor5 by way of a sp¢¢iai resoluiion r4uirin8 a majority of th8n 75%. Exh director 1$ exrKtted to s¢rve a period of no less than on¢ year for thE date of apintment and could be eligibl¢ for Te)11ntMcTht via a yiwl r¢501ution. Exh member of the MBnag¢menl MMttiCc is from a differryrt pmf¢ssIon bxkyound and skills rtyuired for &n0th and efficienl strategic and operntiorllt pl•nning. OrynlsAtloMI #trn¢¢ur• Thc TTU8t is a wmpany limite41 by 8uare. None of the Try¢5 had awj beneficial iiiitt¢st in the cornpany durin8 the yev. The Tntst is a Registered Charity under ih¢ Laws of England and Wale4 which 1$ ovetseen by th¢ Chty Commission. The Tru51¢es are resJy)nsible for the activities of th¢ Tru Ind the day io day manwent. Th¢r¢ are c¥Jrrrntly folr rnembers exh givin8 a gyrnie¢ ) Contne a swn, ¢xceedin8 £10. to the eompAny sljould it be wvund up. The 8overnitsg documcnf is the Articles of Asso¢iatio Tru8tee Indu¢tlon nd Trlttln8 Most tnLSte¢s are already familiar with the prneticaj work of the chltity hthvin8 In volunieer¢d for thc chwrity for th¢ 1&8t 10 years. Additionally, new migttts have an induction medin8 with CthaiMn, Vice Chairnwi & the Treasurer before havin8 a forn] meeiing wilh re8iSt¢r¢d Manager and hier which 1$ alm to familiari5¢ them with d&y day operations lac111 & stratC8ic plannin& The truse5 •r¢ ffKoura8ed w attethd seminar5 and trainin8 OPP01]tieA on governance. The tn¢¢¢5 are const#n¢ly lookin8 for professtonal persons to join the Bc4rd particularly with know]ed8e exp¢rtis¢ in Health And So¢i41 ¢aTe, Human Rtsources Fin)e]8] m8n4g¢meni. Rlik m•MEement The Managemerti Comrnitt¢e has conductEd 4 Teview of th¢ rnajoT risks to which th¢ ¢harity 15 exposed. A ftsk System ha5 been established is updatrd #t Ica5t annualty. wh¢ appropriate, syst¢rn5 or Prul¢S have been esthblished to miti8at¢ the risks the charity faces. Si8nific4nt externa] ri5k5 to funding have led to the devewent of a strategic plan which wll allow for the divetsi6caiion of futtdiD8 and wivitics. Internal control risks minimised by the implementsti(¥n of procedu for wrtl¥)risation of all tratt5a¢tiows and wojttts. During emded 31 May 2024. the ChBrity maithairKd robust govttnence w0¢eduS and Continued to stren8then its risk mawement frwnework in line with the Charity Commission's vernOtt code. The Board of Tru$te¢s c4nduded TeBular reviews of tntstee suitsbility and maintained 8PPft)priHt¢ oversi8htof ¢haTtthble xtivtties.
Om SravaDlthawa Sev TT•5t Report of the Trustees Trnstees (iMtOTPOnting rtr•ty JKI dirtttorB repo) for the Ye4r Ended 31 May 2024 fRIJCTURE, GOVERNANCE AND MANAGEMLYT Subsequent to the year end tn ApTiI 2025. a fomier tyuAe¢ was convicted of serious uiminal offenees in the UK eourts. The ir]dividLtal wa5 suspended from tnJste¢ship duties in June 2023 at the start of Crimin pn)ceeding5. followed by r¢Signl0 post-¢Ortvietion on 7 Apr 2025. The c%)nvictim related to matters li1¢1y )nted io their rok as 8 trustee or atty charitable a¢tivili¢s of the TntsL Upon b¢coming aware of the Convidio the Ine¢S irnmediately reviewed oll govcmJn¢c proceduTe$ and confirnied that appropriate fegUardIng processes had been followed durin8 the individual's t¢nuff. The Botrd took prompt action to asstS5 any p)tential reputstional or cyerational imw the Charity AThJ dd¢rniined no ch4rithble fvnds or beneficiaries were 8tTedcd by these matters. The tNstee$ have fully woperaied wilh the Clty Commi10 and followed all required relting procedwts. A )mpr¢hensive review of goY¢nwKe frameDrks, Irustee TrUItMent pro¢e65e& s&fe8U&Tding politie$ been undertaken io ensure continued ¢omplian¢e with regulatory r¢quiremenLq aThJ best praetic4 standards. The Board remait)s wnfident that robujt d¢¢isioD making PTwedure4 8OV¢fnance Stnjcrts and a r¢5w)nsible appyh to de1c810M art in plate to protect the Charity'5 &ssets. beneficigri¢& and repU10n. The r¢m4ining fnwtees continue in the beA interests of the Chrity and its berficiarie& maintsinin8 the highest Swjdprdg of vernan¢t and regulatory complimc¢. REFERENCE AND ADMif41sfRATIVE DETAIIS Reglstered C•mp•ny number 07629043 IFAh8lMd and Wales) Reglitered Ch•rlty nurnber 1142610 ReOJt¢r¢d offlet 121 Surnmers L4ne London N12(QE Tryite Professor R Narhyanswarny Mrs T Selvendr8n Mr P Ain¥aran (Appoint¢d on IW04r2024) Mr A Mehta (Apwinted on 1810412024) Mr R Rajivan IApwinkd on 1810412024) Mr S Selvalin8Bm (Appointed on 1810412024) Dr A Roy {App)iMed on 0410512025) Mr B Subrarnaniam (Apwinted on 0410512025) Ms C Selvendran (Resi8ned on 0110112025) Mr P Nlurdlikrisn#n (RtsigrA4 on 07m4r2025) Dr R Anjana (R¢si4 on 30104120251 Mr V Kaj¢nthrn (ReSid on 3010412025) Audlton BBK Partnership Chartered Accountants & SulOry Auditors l Beauchamp Court lo Vi¢tors Way Bamet Hertfordshir¢ EN3 5TZ
of ilie'l'rnslfti Tr•sltN Iln¢•rw•rMllnx i1rIle Mtl dlr¢elots reithrll for iht I'ur traMINI JI Miy 21124 TRll•l'F.b.S' R&:51Y)N•>lHII.II'1' 4-1'AI'kMtr.N'I' lThe irtisites Iwhi) Nrc IIK dirLtsKJ uf Um rvI#bhvI 'frtl fvr lh¢ puryKTrsrs tsf Gi)mpAny IAWI lir¢ n%ihle for PY¢fvWinbTr ihc Re1 ofiliL. Trtt5 ih¢ fiMKinl In g¢wrdI¢ wilh ippll¢bl¢14w 8NI Ilrtitcd kingldoitt Accotsntin¥ %laiMl4r& Iuniie¢l Kinbdom Ci¢n¢rnlly A¢c¢Nid A¢¢ountinB Pwxtictl iTlUdin financknl Rew1in¥ Sinn41ord 102'IIK l.'inanci41 Re)rlIng51lDJ 4ppliL•hlr in thr IJK R¢pyhllt ufirtljnd.. Compan> 14w qUireS ih¢ iruslccs th pr¢p9 Ilnan¢iil Jtem¢nls for cach finan¢ial yL'Dr whi¢li gi¥¢ i iruc Ind f•ir view of ihc SlThle of #ffatrs of t ch#ritibk crnnp•ny of the in¢oming resou Jrhl appliciiion of in¢ludinu lh¢ ithcome ¢xptndiiw¢. of & dwritsble tojyny for ihAI wmxl. In prLPWiry fin4nci41 Slalcmenil ihe Irusie¢s wuir¢d io seled 5UiIAble AceouNing wAicics ihen apply wnsisl¢niJy: ok¢n'e ihc Mh% and Principles in thc Charity SORP. make judgtmEms and cslirnalcs i11 •re r¢AwnHblc prudtni. stai¢ wl>cih¢r •pplicalAe a¢couniinbi StwNlards bcen folloTd, kj Y m41¢ri•l d¢pffiures dIlA¢d explaincd In Ihc firtuncial siat¢m¢nlS' PPare Ihe financitsl sthi¢m¢n15 on ik &oin8 ¢orttrn basis unltS5 il is iMpWric lo prcsumu thr ¢hbritsbk mpany will wniinue in bu¢$$. The truses 4rc ffspooibl¢ fi)r keepiry pY)pcr Kcouniin¥ rtcordi whith dis¢lDk With re4#ble 0¢¢uY It •ny tim¢ Ik financial rKJsilitin of ih¢ ¢h•rithbl¢ ¢omp4ny and Cnablt Ih¢m io cnswr Ih ihe fsnaneijl slll¢mtnts ¢omply wlih Ih¢ Companies Aei 21106. They ire also r¢sponsibk kn feLldIrtU the •ss¢ts ¢hIii1¢ And hEn¢e for IAklni rtuonibl¢ 51¢p$ fw ihe pr¢venI1 Jnd dete¢tion of frnud •nd other Irye8uTI1. In so fw ts Ihe In1¢¢5 we aw•r¢: - Ihere is no rel¢Tri audit infomi81ion Or•ch ihe chKithbl¢ conTrpany's •uditOW5 ue unaW- ind Ihe tN$iees hve kert ill steps lh ihcy ou&hl 10 have taken 10 make themsel •ww¢ of Iny r¢kw•ni iudli inf(vMioM to estsblish Ihat the audikm wt awwtofthbt infrnion. srATEMEKf AS TO DISCU)SVRE OF INFORMATION TO AUDITOMS So ftr Is Ihe INscs ir¢ S1¢, Iher¢ is Th) rtlevani inftyrn10n las dered by sron 411 ofihe Compani¢5 A¢1 20116) of which the ¢hwitable comp•ny's wfitors uTrawue. h•5 tskcn ill ihe Ste Ihat Ih¢y Oubhl hiv¢ k'en 8$ a trusiee in ordrr to make tkm •w•r¢ of4ny alit ifif0rm•ify lo ¢5lablish Ihat IhE ch¥rithbl¢ eumponls •udilors 4r¢ aware of lh inf0m1(th. AUDITORS In accordance wilh Ihe Chw41ies 2011 Ind comp1¢5 Aci 20. •n •tyJil is no wuwirtd th¢ ch&rit$ income for Ihe ytai ended 31 2024 wis klow ihe slalutory ihr¢shold. Awdingly. IIIIK P•nn¢rship will nui be sttkin¥ re-appoinimen¢ *$ •uditors ai the nex1 Annual GeKrd,YeeiinB. Report of Iht Irusl es in .. •nd sigrrtd on the bowrfs .half by. P4¢ 11
Report of the Independtht Authtors to the Memben of Om SrxvDAbb•v8 Sev Trwt Opinion We have audited the financial ststements of Om Saravanabhfftva Seya TnLqt {the ¢harirable company,) for lh¢ year ended 31 May 2024 whi¢h compftse the Statemeni of FIncIal Activiri¢s the Statement of Ftnanci81 Position, the Statcrnent of Cash Flows arKi not¢s finartcial ststemo1& including a surnrnary of SilfiCant accounting ]i¢l¢s. The financial rerM)rting frnmework that has applied in thw weparathm is applicabl¢ law and United Kin8dom A(WItIng Standards (Unit¢d Kingdom Gencrnjly Apted Actnting Prxli¢¢). includin8 Financid Reporting Sthndord 102 Tr FiDaKial Rep)rring StandaTd appli¢8bl¢ in the UK and Rwblic of ITeland'. In our opinion the financi statrments.. givc a true and fair view of the slate of the charitable companys alTairn a$ 81 31 May 2024 and of it$ iocoming Tc8oueS and application of including its iTKome and ¢XpdIn for the year then ended,. have been properly prcpared in Cordance with Unil¢d Kin8kn Gen¢rn]ly AcceNed Acwunting Prnctice, including Fin¢]&] RcsX)rting Standard 102 Tr Financial Reporting Sthndard Applicable in thc UK and Republic of Lrel&nd'. atml have b¢¢n prepw in with requiren)ents ofthe Cowi¢5 Act 2(. BAils for oplnlon W¢ ¢onduaed our audit in accordanc4 wilh Inrrw¢ional Stsrthrth on Avditing (UK) (ISAS (UK)) and applicable I. (r rr5pon5ibililTes under those itarhdardj are fijnher described in the AlIr8. respons1 iliiies for the audit of the financial statem¢nts section of our rel. We ve independ¢nl of the charitsble company in IOrdanCe with the ¢thical requirements that are r¢levani our tudit of the financial ¢thents itt the UK in¢ltyJin8 ihe FRCS Ethical Sthndard, and we h&ve fvlfilled our other ethic41 reswjnsibilrties in XC0rdKC with these r4uir¢ments. Wt beli¢v¢ thgt the wdii eviden¢e we have obtained 19 sufficient and appropriate provide & ba5i$ for our opinion. Materil Untert•lnty Rthted th GolD¥ Coneern We dr&w attention to Not¢ I w the financi81 staternenffj which desttibe5 the basis of prepAration, i111n% the trustees, ss¢ssmeni of iht eharitys ability to continue 85 a 80inB concern. As di5closd in the financial sttstem¢n¢s, Ihe charity's income for the yw ended 31 May 2024 d¢ueasa signific4ntly to £560.660 {2023: £2.135.682). resuliing in net expenditure tsf £94.647 for the year and a redudion in unrestricted r¢s¢rves to £2,017.948 at ye4r end. Th¢ Charit$ future op¢ration5 remain de on the continutd SUPFrfJn of dornys Artd the abilty ¢0 secure sutTicient firtu income. Ag sthtrd in Nott l. these evems or &11]0n aJonB with other nw¢N5 a5 S¢¢ forth in Note I, Indite a malerial unr¢Jtsinty exists that may ¢asi si8nificnt doubl on the chrity's •bility to continue as a 8oin8 wn¢¢rn. Our opinion 19 not modified in respeci of thi$ m#ti¢r. Other inforniitlon The tet$ are r¢sp)nsTri +le for the other infOrn1). Tr otheT inform&)n comprises the Inforntion irtlLMled in th¢ Annual Report other than the fin8n¢ial 5tst¢rnents and our Rert of the Indyndent Auditry5 th¢reon. Our opiniott on the financial 5tstem¢nts ¢Sxs cov¢r the other infOrnln and exc¢w to ¢xni otherwise explicttly Slated in rew¢ wt do expttss w f(xm of asSurne Wn¢110n thereon. In cotujection wilh our audit of the fin¢181 oternents, our WTL4ibilty is to read the (thr infomiation and. in doing $0, Gtsnsider wheth¢r th¢ otlKr infornlation is materially inconsistent wth the financial 5t&temen¢s or our ktK)wled8¢ obcained in the audii or othcrwi5e appears to b¢ rnaterIlY mtsstd. If we identify $u¢h materi81 inconsist¢nci¢s or apparent nu¢¢rial misstatem¢nt& we ue required io detennin¢ wh¢theT this gives rise to a meriai misstatemetrt in the financial statements themselv¢s. If. b85cd on the work we have perfonned. w¢ conclude there is a rnateri41 misstalement of ihis other inf0rnwti0 we are rrquiTd ¢0 r¢rt that fact. W¢ have tiothill8 to r¢port in this rega. OpinioD8 other ma¢t¢rn prt4erlbed by the co1¢> Ad 21J06 In our opirtion. b4s¢d on the work urderthn in the course of the audit.. the informAtion given in th¢ Rcport of the Trustees for the financial ye4r for whieh the fin8ncid ar¢ prepared 15 wnsistent with the financial 5ratements" and the R¢wrt of the Trte&S has b¢cfft wew¢d in with applicable legal requir¢ments.
Report ofthe lTrdetntht Audityrs ¢0 the Membtn of Om Sar4vMbh•wi Sev Trust Matters on wbkh wt requlred to T4rt by VAeeptlo In the light of the knowledge aDd LThl¢tsthnding of the cbaritsble ¢ompany and its environment obtaincd in the cour$¢ of the audn, w¢ have rtot id¢Dtifi¢d molerial misstatements ID the iieport of the TnL4te¢5. We have thIrtg io Tepor¢ in T¢speth of th¢ folknMg matt¢rs whe¥t the Cornpani¢s A¢t 26 require5 US to t¢port to you if. in our optnion.. equate accounting ree(ds not been kryt or AleqUt for our wmlil not been rettived from brancheg tK)t visited by us or the financial stslernetjts are ty)t in a8reemellt with the a¢counting retords and r¢tsrDs' or certain di5¢1osur¢$ of trustees, rernun¢rntion spttified by law are not rnade" or we have not Teceived all the inlonnwion and explan10Th$ we Ttyuire for our a11. RepoMlbllltle4 of trwttt8 As explain¢d mre fully in the Truthes, R¢spJnsibilities trustees (who Bre also the directots of th¢ th8Tithble company for th¢ pufF¢S of compony l#w) are re$rn91b1¢ for the preparation ofthe financial sents and for being satisfied that thcy givc a tnK and fair view, and for such internal ntrol as the trustees d¢mine is ncces5ary to ¢nAbl¢ the preFwation of fItWl sthtern¢nts are fre¢ fmm m8teTiAI mi$$tat¢nni. whether due to fraud or error. In preptring th¢ finan¢ial thternent4 the mimtts are respsible for 453¢ssin8 the ¢h8ritablé wrnpany's abiliry to eontinue &5 a going Concern. disclosin& as applieable. matter5 related to 80ing conc¢m aDd ustn8 the going ¢on¢ern b85is of aco)unttng unl¢ss the trusttts either intend to liquidaie the chwithble company or to cease operations. QT have no TlIstiC alternativ¢ but to do KJ. Our rupon$lbUhl¢s for the audlt of the flMDdal stAtements (r resFKnsibilitits for the audii of th¢ finla1 $lat¢m¢nts objectives are to obiain reasomble assurottee about whether the financial 5tatem¢nts As * wknle are free from material mis51al¢meni ether due to fraLI or ern)r, and to Isu¢ a Rert of the Independent Auditors include5 ow opinion. Rcasonable &8$yr4nce is a hi8h l¢v¢l ofassur8nce, but is noi a guarantee thot w) audit condurted in a¢cordance with ISAS (UK) will 4lway$ ddcct a malcri&l mi5StaiemeM when it exists. Missla¢ements Can 8ris¢ fr0rn fraud or error and ¥e ¢onsidered materi&l if. individually or in the aggregatc, thcy could r¢INblY b¢ eXed kn influetKe the QnomiC de¢lsio of u9era tsken on the b&sis of these flnancial stDitments. We obthined an understsndin8 of th¢ l¢#al and rt8ulatory franxThvrks applicable to the charitsble MpAnY and the se¢iot in which it operas. W¢ obtait)ed an understdIng of how the ctrwitable ¢onyny 18 implying with those le8al r4ulatory fiymewoTk5 by m8kin8 tswuires to man8em¢nt. We Corr0 thes¢ enquiffs throu8K th applicable. our Yeview of tru8t¢¢s' minutes. We &s$es3ed the sugeeptibility of the ch8ritsble wmp8rty's fiTwKi81 statements 10 mai¢rial misstslemeS, in¢luding how might occur. Audi¢ prottdtsres wfornKd by the en8B8ement team irKluded.. - idcntifyinB and se$S]ng the d¢$ign efflIvene ofcontrols rn8na8emeM h&8 in place to prevent and de¢t fraud; - understanding how those thar8¢d wilh gOvernCe considetrd and addressed the p)ietttial for override of control or other inappropriate influences OV the financial reporting process; - chail¢n¥inB assurnptiOJk8 and jud8em¢nts made by the Manaset in its signifi¢ant Inn8 ¢stinleS.. - iden¢ifyin¥ and t¢stin8 joumai entries. in partilar 8Dy unusual journal cntries.. 2nd - 0sxsyin8 the extent of Mpliset with Telttl laws r¢gulatioM. We did idenrify key a11¢ mp¢ters Tel8 to irre8ularitie4 i1lIng fraud. Page 8
Rewrt ofthe Inthwd¢Dt AwditOT5 to the M¢tpb¢rs of Orn S4r•v•Mbhv Seva Trust Bttause of ihe inherem limitati(Tr of an audii therr is a Tisk th we will t>)t detect all irrcgularitie5, in¢luding t$¢ leading to a material mi55tatement in the financia] stat¢rn¢nts or non-compliance with regulatMTrn. This risk incre4se8 the nk)ff ihbt ¢ornpliance witb a law regulation is re)Ved from the events and trwtstions reflec1 in the fin&n¢ial ststemeni& a5 we will be lesq liTr¢ly w become aw7rr of ITlanceS of Don-¢4)mpliat. The risk is also 8re8t¢r regarding irregulftriiies occurring thie to fraud rather than ¢Tror. fraud involves imentionai concalrn¢nL foTg¢ry. collusion, omission or rnisrtpresentation. A further descriptitin of ow responsibililies fc the 8udil of the financial statements is located on the Firtancial Rerting Council's website w1.fr¢.0ryk1¥UdIl0TSrcsponsIbjIjlIeS. This desuioion forms part of our ReFrt of the Independent Auditors. U¥ of our rert Thi5 reiM)rt is made sol¢ly to the Chtritable company's rnember& as a body. in coldance with chter 3 of Part 16 of the Companiu Aa 2006. Our audit wDrk h35 bttn undertaken g) th81 we migbi 5ta to the chaTitsbl¢ cornpany's members ihose moirs we are required to state in at) audi, rep)rt and for M other PUTtA)se. To the fvllest ¢xt¢nt perniitted by law. we do 1 or assume resFK)nsibility ty anyone other than th¢ charithbl¢ compatty the ¢lwitable company's members as a forour audi¢ for this rer( or forthe opinions w¢ have foTmeil. Alan Kay¢ FCA [sL0r Stotutory Auditor) for and on behalf of BBK Parnership Chart¢r¢d Accoutrtants & Statutory Auditors l Bcauchamp Court 10 Victors Way Bomel Hertfordshi EN5 5TZ Page 9
Om Sar&vam8lthv• S¢va Tntst Sttemet orFknD¢I Aetlvltks ror the Year Ended 3] May 2024 31.524 Unrestrict¢d fund 31.5.23 INCOME YD ENDOWMENTS FROM tX)nAtions and le8t¢i 538.129 1073.321 Oth¢r tr&lit)s aaiviiies Invemnem income 701 60J89 Totsl 2 135 682 EXPENDITURE ON Raising fi]nds 54.792 Ch8rltsbl¢ •¢llvltles Proj¢cts {India) Elderly Home Projec¢ Ilfvlia) Project5 Isri L) Centr¢ Overhead Expendityr¢ Chpritable A¢iivities {UK) Buildin8 Maini¢n•rt¢¢ & Runnin8 C( Financ¢ Chargey Legal aThJ profesjionai cost Travel Expenses mOr Expenses S5,9$ 276.700 166,LKJo 6.989 96,609 16,487 158,558 3.084 27.400 46.179 709 101207 106,708 7,526 241,413 3.726 115.412 Totl 655 307 853 507 NET JNCOMEI(EXPENDITURE (94,6471 1282.175 RECONCILIATION OF FUNDS Tothl ffijrth brvy8ht fmard 1112,595 830,420 TOTAL FUNDS CARRIED FORWARD 017 948 LL595 The Krtes fomi pjrt of these fiD¥ncial st8tements Page 10
SI11 of FINArtJ*l 31 M•y 2024 31,J.24 Unr¢ort¥#¢d fund 31.5.23 FIXFD AS%FT8 12 110SJ25 1.994A25 CURRKKf Agstrs St¢Kk 13 3,120 3,120 Cuh d Ibwth in ld 92.746 95JOO 204J14 CRfDITOA8 fAlllniéw whhln on8 y••r ij (J02JQl (55166) Nfl. CURREiff Assrrs TOTAL A8szni LESB CUAREprr LIABILITIE8 3&705 2.143J43 CREDITOKS (20.7571 130.7411 14Ef ASS FUIID¥ TOI'AL FLNDB
Om SravaDbhw Stv Trnst Stsmen¢ of Clsb Flows for the Yur Endtd 31 M•y 2024 31.5.24 31.5.23 Not¢s Cgsh nows fyom operatlng Artlvltles C&sh gen¢ratd from operations Interest paid 41.450 lJ32.110 Net c&sh provided by optrnting x111 40.793 Cash flows from actlvltl Pur¢hase of tangible red assets Int¢r¢M received (139224) (1,999,353) Nei cath in inv¢stin8 Al¥ltieS 1137 1997381 CA5h now8 from flnntkn8 Actlvlti L4)an r¢payments in year (9.991 Net Cash us¢d in financing octiviiiej ChAD¥e In 1h uih equlv•l¢nt• In ¢h¢ reportlng perlod C8ih ¢$h ¢qulvxl¢nts •¢ ihe b¢glnninR of the reporting perlod (106,592) (675,919) 871383 Clih •nd CAJh equ51¢4 at the end of the reportln¥ period The notes fonn of IlKse financial 5thtcments Page 12
Om Srnvubb•v Stv Tnul otes to the Sts¢¢w¢w¢ of Cub Flows for tht Yur EDd¢d 31 My 2024 RECONCILIATION OF NET (EXPENDITUREYINCOME TO NET CASH FLOW FROM OPEKITING AcrIvrriES 31.5.24 31.5.23 N¢t {¢xp¢Ddltureyineome for the reportlDE wlod las per th¢ ststtthtnt of Fln¥Dtll Activities) Adjustments for: D¢pre¢iation charges Intrrest re¢eAved Inierest paid D¢cre&%e/(incre4s¢) in debto Ineretse in CTfditors (94.6471 1281175 27.829 (1.830) 657 6.0 12,139 (1.972) {6,0() Net ash prnvld¢d by opertlo 332110 ANALYSIS OF CASH AND CASH EQUIVALENTS 31.5.24 31.5.23 C&sh in hgnd Notice depostts (less than 3 months) Overdrafts included in bank loan$ and ov¢rdr4fis fa]lin8due within on¢ ye4r 91 92,655 91 195.373 T87 cth and Cash equivalents ANALYSIS OF CHANGES IN NET FUNDS Ai 116r23 Cash flow At 31J5n4 Net cJh Cash at bank and in hd Bank overdraft 195.464 (102,718) 92,746 13 8741 106592 Debt Debts falling due after l year Totsl 96,601 The Mtes forni part ofthw financia] statemrnts P88¢ 13
Om S•rnvaDbh8v• &w• Trust Notes to the FiMn£il Ststwets for tht Yur Endtd 31 May 21124 Accou[NG POLICIFS Bxsls of preprini the fin8n£knl 3¢atemfflbts Om Saravanabhava Tn]st j5 a private c4)llVDy limited by in Ettgltyl. Th¢ dTtsS of the re8iStered offi¢¢ is detailed &8 W of the to the trustres of these financial statrments. The natw¢ of th¢ ¢h¥rity'3 opero¢ioNs and prirt¢ipat activities art the whrynccrnent of education in cutnwe aA 8rt. The d)arity constitut¢5 4 publt¢ benefit ertity d¢fin¢d by FRS 102. The firtancial Aatements have becn prepared in aceordance th A¢untIng and RertIng by Charities: Stst¢rnerrt of Recomm¢ndcd Practice app1]ble to chrities pr¢paring their accounts in accordance wtth the FiDanci81 Rerrt)rtin8 Standard p]icable in ihe UK and Republi¢ of Ireland issued in October 2019, the FiD#Dciai Rewrting Standatli applicable in ¢he Uttited Kingdom and Republic of Ireland {FRS 102). th¢ Charilics Act 2011, the Companies Act 2006 8nd UK GvneTrlly Accepted Accouthing Pla1¢¢. The fiTn¢la1 staiements are we[ed on a Boing ¢onc¢m btsis undw th¢ histori¢a] cost ¢onvention. modifjed to irtelud¢ ¢¢nain items fair vajue. The financial S¢ gTe PTeseDd in erling whi¢h is the fiinctional cwrency of the thlty and rounded the ncvest £1. The silfinI ac¢ourtin8 wJliei¢s wplied in the prepwl0 of finla1 statements att set out b¢Jow. These pJlicieJ hve be consist¢ntiy applied to all years Pre wil¢39 otherwise stated. All incx)mitt8 resoiir¢es are iluded tn th¢ Ststement of Ftnanci41 Adivities (SoFA> when the ch8rity is legally eniitled to the income after any t¥illonS havc been mel, the amouni catt be Metsw reliably and it 1$ pml)#bl¢ that the income will b¢ receid. For donion$ to be reco8niseil the will have been nlfied of ihe omoums and the settlemeni. If there are conditions atta¢hcd to the donation and this r4uirES & level of perfOnn befor¢ ¢nud¢ment ¢4n be 081fted then income 15 deferred until those ¢LxKlilions are fully mrf or the fuiflltnenl of thosc conditions is wiihin th¢ o)ntrol of ihe ¢hartty and it is pmbthle tly will be fulfilled. Donated facilitits and donated p(eSSiOnal sffvitts are lenIStd in incom¢ at their fair ¥ue when their rxonomic benefit 15 probable, it ¢an be me&%wed reliably and the charÈty has control over ihe item. Fair value is ddcnnined on the basis of th¢ v8lu¢ of the wft the charity. For example. the am01 the Charity would be willin8 to pay in open rn8rk¢t for swb f*ilities WHI services. A corresk¥)ndiDg amowtt is Te¢ogni5¢d in exndItUre. No &mouM 18 in¢luded in the fin8n¢ial 5tht¢rnents ftr Voluntttr time in line with the SORP. Further detsil is given in th¢ Tnjsttts, Attnuai Rwrt. Wher¢ prarficable. giftj ID kind donlted (or d1th"b)n the beDeficiari¢s of the eh&Tty are included in stock and donations in the financial Matements up)n receipL Jf it Is impracticable to asxss the fair value It r¢¢eiO or if the co$t$ lo undertake sh • valuation outweigh bcrKfits. then the fair value is reco8lli5¢d as a eornponent of dona¢ions when it is di5triE4Jted 8t an eqyivabent amount reco1$j &5 ¢lJaritsble eXpeiltUre. Gifts in kind donated for vesale iDclyded at fair Val the expEded PToc4th fmm 58]e le95 th¢ expected ¢osts of sB]¢. Where e5tinMting the hir valu¢ is iThtiGthle urA)n receipl it 15 reco8nis¢d io stock neom¢ from othu trading adivities,. Upon sale. the y¢ of the 15 ¢harg¢d 48ain5t 'lnwme from other irading 4d1viti, 8nd the wDceeds are reewisd as Income frorn other tszdin8 a¢tivtti¢s'. Where it is impracticable to fair value the ilems to the volume of low vaJu¢ items they or¢ not rtcognised in the finan¢iAI stat¢m¢nts until thry ar¢ wld. Thi5 rQme is reco8Dised within Incotne frotn othtradIng activities.. Fixed &8set gifts irt kind are recognised when receivable and aTf IDElU at fair v8lu¢. Tlry are Tr)t derce over the life of the assd. Pa8¢ 14
Om Srnvallabhav Sevx Trll
for tht Year Ended 31 May 21124
ACCOUNTING POLICIES- ethitin•
Ineome
F( le8acie& etttitletthent is the earlier of the elwity 18 )lif1¢0 of an impending distrilyjion or the leg8Cy
being r¢c¢ivd. At this point income is rttogDised. On oE&¥ion legacies will be notified to the charity however
it is not possible to mTe th¢ amouni ¢xp¢ded be distributed. On th¢se c¢
Om S•rnvaMbhawa Seva Tr•s1 Notrs to the FIRn¢J•J Ststtmtxts- ¢onthi•ed for the Year Endtd31 May 2024 ACCoU1NG POLICIES- tondnlled Tanglble fixed asaet$ Freehold building$ hav¢ b¢en depreciattd at 1% a5 the Charity follow¥ a program of r¢guJar refillbi5hrnent and maintenance of its properties. This iti¢lwJ¢5 Trinsiat¢mem of the fabric of buildings. where necessary. in order to Maintain them to the highcst level. Accordin8ly. in the opinion of tbe TTuses.the depreciation provided is appropriale. Stockj Stocks Are at the lowèr of Jnd lma1 sellin8 PriLf leM COSL8 to ¢ompl¢ and sell. C05t include5 411 Costs of purchase, $15 of conweTsion and other ¢osts in¢urred in bringin8 Stock to its present location and ndition. Cost is calculated ustng the fity-iffj f4)ul forniu]& Provision 1$ m¢ for damwd, oblets and Alow.moving Swck there appropriate. Donat¢d stocks ve fair Yed &$ d¢suibed 8trxive. T¥tioth The charity is ¢x¢mpt chority withill the nanin8 of sdKdule 3 of the ChitIeS Act 2011 and is considered to pass the tests set tn Paragroph I Schedul¢ 6 Finonc¢ Ad 2010 th¢r¢for¢ il meets the definition of a chitable company for UK corwratioD tsx purtKJse6. Valu¢ Added is reeov¢rabk by clwity. and 13 therefore includ¢d in the relevont costs in the S¢atement of Fin¢]41 Activities. Unrestricted fitnds are available for us¢ at the discretiott of the Inle¢S in furtFkrwKe of the 8enernl obje¢iiveg ofthe charity and which hav¢ not beffl desigmityj ftir ¢)thw p¢$. DeSIaled fijndi ¢omprise unrestr1cd funds that have been 5Ct &side by the trnstees for p•rticular purp)5e3. The aim and us¢ of each designaicd is set out in the notrs to the financial statements. Restrict¢d funds fiffids whi¢h are to be used in aceord¥n¢e with specifie restrictions imposed by donors or which have been rnised by thc ¢han'ty for particular Pur)5¢$. The of raising and fftdministcring su¢h fimds 4re charg against th¢ spxifi¢ Tr aim of each rejtrided fimd 18 set out in th¢ n¢3 to ihe fin#n¢iai sthments. Debton ¢redltorn rtteivTrAe I pyblE wlthlo ont ymr D¢btors and ¢T¢ditors with no stara iiitCff5t ratr knd rff¢ivable or payable withio one yetr Hre recorded transaction price. Any losses arisin8 from impainnen¢ are recolS¢d in ¢xpenditure. Impirnent Awt5 lY)t measured at fair value are revi¢Thl for atty indiclOn that the assd may be impair¥l * each balanre $heei date. If such indication CXi5ts, the recovcTable aryunt of as5eL OT the cash generntin8 unit, is estimated and wmpared to th¢ carrying amount Where thc c4nying amouth exce¢ds its recovernbl¢ arnount. an impainnent loss is r¢cognised in profit or loss unkss th¢ asset i5 carried at a revalu1 8mount where impainneni loss i$ 8 revaluation d¢crea5¢. Provlslong Provisions are reeo8nised when the clwiry has all obli8alion at the shed date a Tesult of a rASt event, it is probable an 0flOW of eeonorni¢ benefits will b¢ Tequired iD scttlement and ts amount can be r¢liably estimated. ge16
Om SIrVbhavl Stva Trust Notes to the Fill8ncial &Atem¢nts- eontiDued forthe Year Ettded 3] My 2024 ACCOUNTING POLICIES- conJnued Rentals payable and tlyble under rFr•ting l¢ag¢5 Are chrKed to th¢ SOFA on a straight line basis ov¢r the period of the lease. Going conc¢nJ The tnthtts have &qs¢ssed the ¢htirity$ ability to tin a goinB concern in light ora silf1¢nt reduclion in income lollowing th¢ disrnfflioti caused by th¢ rui8n8tion of a key thjstee in April 2025, who hhd previously played a central role in the cbarity's fi]ndr8isin8 and community envrn¢nt activiries. This event has dIre]Y r&%ulted in a decratse in incomin8 resourtts of approxinthtrly £1 J29.000. l¢&Jing w a redwtion in $h rts¢rves of aroutyj £IOO,000 a1 a net cuttent &4sei deficil at year erd. The Tntstres reeognise that the loss of this indiwdual's involvern¢ni has had & m&leTi Ind on80in8 iowi on the chariW5 ability lo guera income. and proje¢tions indicate a continued trend irt the slK)rt tenn. In r¢sponse, the trus*u h8ve implemathl cost Control m¢8 and are •ctively se¢kinx alternative sour$ of fitnding to stabilise th¢ charity's finances. The clwity retsins subsrantial fixed assets 4nd overall nei &8sets remwn positive, which providcs a de8ree of fJnanci41 r¢silieure. Based QD C4VTent fowasts and prndent managern¢nt of ffsow¢e4 the tntsrees believe th¢ charity contittue to meet its obligalions as they hll due for least next twelve mofflhj. Neverthel¢s& the trus¢ees acknowledge that a Mathri llrttrtainty exists due on80ing redu¢tion in InMe
nd the Current nrt currcnt &8set defi¢ii. While s(eps gr¢ b¢iDg to address these challenge5, the charity's
eontinued ability to opcrale 8$ 8 80ing ¢¢M is dependent on the suc¢essful impl¢menthtion of these m¢asures. AccoYdin8ty, the finan¢ial sthtemertts havc been Prepar on a goin8 nCern basis. but thig nmteriai unc¢rtainty may ¢ast signifi¢ani doubl on the eharitys ability to cortlinue 45 a goin8 concern beyond th¢ foresttable firtur¢, Slgnlfl¢An¢ Jud¥emeDts and a¢lmt In the application of the charity's xeouniing policie4 the Injs$ are required to mAke judgemertts. estimates ond usumptions Abclrt the carryin8 aft11 of the &85ets and li&bilities that are TK)¢ readily apparent from other gour¢es. The ¢5¢imatrs artd associated UMptIOnS are b&sed on historiui experienc¢ and othcr fadors that are coAi$ideTed relevant A¢tU results may diffET from ihe5e estimates. The ¢stimates and underlyin8 Ssumption8 are rtviewed ¢)n an onBoin8 b&8is. Revision$ lo %<ountin8 C5tirnate5 ar¢ recol$ed in the period in which th estlmates revised where the revision alTects only wiod or in the wiod of the misbon and fuwre wiods where the r¢w$ion affects boih curreni and fUre periods. DONATIONS AJ¥D LEGACILS 31.5.24 31.5.23 JTwions 315,323 57,582 185,224 Oift aid Money Box Collection Other In¢ome .961,210 106.037 6,074 558 129 2.073,321 Page 17
Om Sr#vnbbYa Stv Try3¢ Notes ¢0 the Fhwncil &t¢nxnts- eonlltsued for the Yur Ended 31 Miy 2024 OTHER TRADING ACTIVITIES 31.5.24 31.523 Just giving ch8ritthle 701 60J89 INVESTME INCOME 31.5.24 31.5.23 Bank Interest R¢¢¢iv IL41SING FUNDS iiing donati•n nd Iwdos 31.5.24 31.5.23 Donion and Gift CHARrrABLE ACTIVITILS cosrs funding of i¢¢iviiies (Ace note Supik )5ts {se¢ te81 Totsls Projects Ilndi4) Projects (Sri Lanka} C¢nty¢ OY¢rhcad Expendityr¢ chl11t Actimties (UK) Buildin8 MAinterwic¢ & Running Cost Financ¢ Charges Ltgal and profession Cost Travel Expenses 55.YJ6 101.207 55.906 101,207 106,708 7,526 241.413 3,726 115,412 lQ6.708 7J26 241,413 3,726 115.412 4¥YI.668 655 GRANTS PAY ABLE 31.5.24 31.5.23 Projexts (lThlia) Elderly Home Pn)ject {India) Proj&*S (Sri iAnk8) Charltsbk Activities (UK) 55.906 276,700 166,000 6,989 101207 466 170 P4¢ 18
Om S#rVbhv Seva Trust Notrs to th¢ FiMDdal Staten)tnts- ntinUed for tb¢ Yur 31 2024 SUPPORT cogrs Centre Overhead Expenditure Building M&irtttnaDc¢ & Rwining Cost Finance cheS Legal and professiot41 o)st Trnv¢l Expenses 86,178 10.830 9.700 106.708 141.493 .920 241.413 3.726 115,412 23.409 115,412 249 IYET INCOMFJ(EXPENDrruRE) Net InMe1{¢Xpend1IWV) 1$ 5¢ated after chargin(¢dl1ins). 31.5.24 31.5.23 Atyjitors, remunerntion Deprxiation. owntrj a55¢ts 9,7(Kl 9.000 10. TRUSTEES. REMUNERATION AND BENEFITS There re no th1¢¢5, rernunernion or other benefits for the yetr efvJ¢d 31 May 2024 )r for th2 ye4r ¢nded 31 May 2023. Tnute, expens Thern w¥¢ trw¢s' exper& paid for the yearended 31 May 2024 Th)r for year endtsj 31 May 2023. 11. COMPAIL4TIVES FOR THE sfATEMENT OF FINANCIAL AcfiviTIES Unrestricted fid INCOME AND ENDOWMENfs FROM t)nation& and I¢wLBS 2.073J21 Other trading a1villeS Investshent inwme 60J89 2 135682 EXPENDrruRE ON Raisins funds 54.792 Chari¢ble actlvltks Projects (India) Elderly Ik)m¢ Project (India) Projects (Sri tank&) Centr¢ Overhel Expendiure Clwit£ble ActlVLti¢s (UK) 276,700 I66.)0 6,989 96.609 16.487 Page 19
Om Saravxnbh•v# s Tr1 l%oteB to th¢ S¢t¢meTrts. eontinued for the Year Ended 31 MAY 2024 ii. COMPARATIVLS FOR THE sfATEMENT OF FINANCIAL ACTIVITIES- conded Unre5tri¢t¢d fund Building Mainien8nee & Running Cost Finance ChBe5 ixg41 and professicd ¢05t Travel Expenses Motor ExpeA 158.558 3.084 27,400 46.179 709 Totsl 853 507 NET INCOME 1,281175 RECONCALIATION OF FUNlkS Totat funds brought forward 830,420 TOTAL FUNDS CARIUED FORWARD 2 l12595 12. TANGIBLE FIXED ASSETS Fixtuffs FreelK)Id propErty Jewellery & valbleS fittin8J vehicks Totals At l Jun¢ 2023 Addi¢ions .978.345 14.1)08 7,(70 23 542 14,084 2,013,437 139 At 31 May 2024 14,084 2 152661 DEPRECIATION At l J 2023 Chwrge for ye4r 10.580 20,8 8,315 19.012 At 31 May 2024 NET BOOK VALUE At 31 May 2024 2 062 357 2 105 821 At 31 May 2023 1967 765 I4.8 1994 425 Pag¢ 20
Orn SxravMbbv Sm TnMt Notes t• the Fkn•Dcil }ntInUed for the Year Ended 31 Miy 2024 13. sfocKS 31.5.24 31.523 Stocks 14. DEBTORS: AMOUNTS FALLIIYG DUE WITHIN ONE YKAR 31.5.24 31.5.23 Other debk) 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.5.24 31J.23 Bank kians overdrafts {se¢ 17) Oiher creditor5 Actrued expenses 3,874 148.208 10.9fy) 34,666 21.0(Kl 162982 16. CREDITORS: AMouNfs FALLING DUE AFfER MORE THAN ONE YEAR 31J24 31.523 Bank loans (se¢ In J7. tL)ANS An anoiysis of the m&tUTity of loans is 8iv¢n belov. 31.5.24 31.5.23 Amounts falling due within otsc yw on demwyl.. Amounts f811ing between one and tMxJ years: Bank loans. 1-2 years 18. MOVKMEIYT IN FUNtKs Net mov¢ment in fimds At 3115Q4 At 116f23 Unrestricted fiinds General nd 1112,595 (94.647) 1017.948 T(rrAL FUNIKS 2017.948 P88e21
Om sar•bh#¥a StvA Tnut Notes to the Fknna•l Statemets- for tht Year EDded 31 My 2024 18. MOVEMENf IN FUNDS- CoDlJUt1I Net movement in fun4 included in the al¢ 85 follows: ITthrni R¢9)ur$ Movcrnent expended in fvnds Uhrestrid¢d fundi GeAer¥l fund 560.660 {655J07) (94,647} TOTAL FUNDS 655 307 Comp•rntfves for fvnds Nct [vern¢ in funds At 3115r23 At 116122 UDr¢Jtrirted fvndi Gen¢r41 fuTr 830.420 ,282.173 2.112,595 TOTAL FUNDS 830 420 2 112595 Compamive net mov¢ment in irKltyled in the al>)ve are A)Ilows: inL¥)min8 Resou¢1 expended Movement in fvnds Unre4tr&ettd fNnd8 G¢neMI fuTr 2,135.682 (853,507) 1,282.175 TOTAL FUNDS 1853 507 2 135 682 2L175 A ¢urrertt y¢ar 12 months and prior year 12 months c¥)mbitr41 position is follows: Net rnovement in funds At 3115Q4 At 116122 Unreslric¢ed fun General fimd 830.420 1.187.528 2.017.94B TOTAL FUNDS 830,420 1187328 2017,948
Otll S¥r4vabb#V8 Sew Trmrt Nolej to the Fknn&l St*¢anents- for the Ye4r Fmded 31 May 2024 18. .MOVEMEKf IN FUP4tKS. ¢ond•ued A current yeAT 12 mortth$ Ind prior yew 12 months combine41 n¢t movaDent in fimds. Ilded in the Mbove are &4 follows.. InLY)min8 Rttourc¢$ Movement in funds UnMtrl¢t¢d fidI Generni fu1 2.696J42 (1.508.814) 1,187528 TOTAL FUNDS (1,508 814) 19. RELATED PARTY DISCLOSURLS There wrre no related party trarall3 forthe year thmled 31 May 2024. 20. SUBSEQUENf EVEiYrs Subsequent to the year crf in Awil 2025, A fornKr trustee was convithd of crirnind offeJw nlated to their role with the Charity or Any ¢haritabl¢ activiiies. The ci>nviction had no finaThcial impact on the Charity's operations. assets, or liabilities. The tswstets have r¢Yi¢wed all bxivcnwLCC procr¢S ¢onfimied appropriate oversight was maintsined through0 Individu,5 lenwe. No adjustments to these financi&l $lat¢ments w¢r¢ rcquiTrd re$uh of this matter. Page 23
Om Srdvtsbhv SevA ThM¢ Detiltd Stst¢wK•¢ of Finaneil A¢tivib for the Yer EDded 3] M•y 2024 31.5.24 31.5.23 INCOME AND ENDOWMENTS tlonatlons And lewles Donations Gift aid Money Box Collecti Other ITbcome 315J23 57,582 185224 1.961.210 106,037 558.129 2.073J21 Other trgdlng etlvltle4 Just 8ivjri8 charitabl¢ proje<l 701 60,389 Investment Ineom¢ Bank Inter¢sl Re¢eiv¢d TolAI Ineoml#¥ Temurc 560.660 2.135,682 EXPENDITUR RlBln8 domtlom rtd k¥A¢leJ Donation and Gift 54.792 Charltble •rtlvi¢i Grlnts in#ituiion8 164,639 466,176 pport wjts Man•gement Pltes and water Insurance Lighi and heat Telcphorte PostO8e and stAiionery Adveryi5in8 G¢neral Expenses Ren¢ Free1Id proprrty Fixlures athd fittin88 MOtr vchicles 17.670 2.461 26,806 3,404 3,405 6,320 42.759 97.017 20,89) 5.785 1,154 3,641 949 45.225 1.836 2,153 8,629 33.377 45,814 10,580 117 227.671 153,763 Flnince Bank charg¢$ Bfink loan interest 3.069 657 2.182 902 3,726 3.084 This page does ]h)t forni pwt ofthe staw fmwKial statern¢nts Page 24
Om S•rnvaD•lJb#v Sm Trws¢ Detslled Ststethertt o(FiD•DthI Aettwlths ft)r the Year End¢d 31 Mav 2024 31.5.24 31.5.23 FInee Other Repair5 & MaintanatK Motor & Travel Cornputcr Cost L¢8 and profession cost Staff Welfare Salary 99.920 23.409 623 115.412 493 82,050 46.888 2,721 27.4(X) 7,633 249J71 166.692 Gov¢rn•nee eosts Auditor5, remunerntion Total resowees exp¢nded 655 307 853,507 ¢¢ (expendItrtYInCoffj¢ This P4g¢ does rK)t fonn part ofth¢ *atiitory fiDwKial statem¢nts Page 25