Company registration number.. 07629043 Charity re9lStration number.. 1142610 OM SARAVANABHAVA SEVA TRUST TRUSTEES. REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
OM Saravanabhava Seva Trust Content5 Page Trustees. Report Independent Examiner'5 Report Staternent of Financial Artivities (including Income and Expenditure Account) Balance Sheet Cèsh Flow Statetnent Notes to the Cash Flow Statement io Notes to the Financial Staternents 11-16 The following pages do not form part of the Statutory accounts.. Detailed Statetnent of Financial Activities lintluding Income and Expenditure Accounri 17-18
OM Saravanabhava Seva Trust Company No. 07629043 Trustees. Report For The Year Ended 31 May 2025 The trustees present their report and rhe financlèl statements for the year ended 31 Mèy 2025. ObJectlve5 and A¢tlwltles Alms and ObJectl¥es Objectlves and aims The Charity's object5 are specifically restrlcted to the followlng.. L. To promote the edutatlon for the publlc benefit of people under the age of 25 yeJr5 In South East Aslo Including South India and Sri Lanka.. 2. To relieve finantial hardshlps, elther generally or Indlvldually for the people Ilvlng In South E85t Asla includlng South Indla and Srl Lanka,. 3. To relieve slckness and preserve the health of people living in South East Asla Includlng Souttt Indla and Srl Lanka., 4. To promote educatlonal and rellglous actlvlties globally Including UK and Europe. To further Its objects, the Charity rnav.. Organise events and to arrange activities to roise funds for progress I promotion of the community center and objectives of the Trust, Establish Sieligious and Educational In5titution5 for the benefits uf the Community.. Rèise funds, Invite and receive contributions frorn person or persons by vlay of subscriptions and otherwise provided that the Trust shall not undertake trading activities in raising fund5 for the sald objects.. and Invest the monies of the Trust not Imrnediatcly required for the sald objectives In or upon such Investment, securities or property as rnay be theught fit, subject neverthele55 tv such conditions (if any) as may fof the time being be Imposed er requlred by law. Publ1¢ 8enflt Public benefit In setting out the objective5 and planning the artivities, the trustees have glven careful conslderation to complylng with the duty in section 17 of the Charttie5 Act 201 L to have regard te the public beneflt guldance putyllshed by the Charlty Commlsslon. The Charlty has a150 achleved the publlc benefit oblectlves by meering rhe splrltual requlrements of the congregation. This was achieved by holdlng the dally poolas, artl and d15cvurses. All key festlval and rellglous dates are observed and celebrated by the devctees. Volunteer The Charity depends heavily upon the contlnuing support of devotees for Sts succe55. The efforts and dedicatlon of the voluiiteers 15 integral to the prosptsrlty of tht Charlty. We èlso thank all volunteers for the hjrd work during the year, particularly those working within the areas of building ènd facillties management, various education41 cleaning, Drganlsed 5peclal event5. tlecoratlDn5. and back-office support and other rellgieus activlties ond prny thjt they cantinue to serve in the future. It Is difficult to quantify the number of voluntary hours served by the devotees. for which we remaln Indebted. The trustees conflrm that they have complSed with the requlrements of Section 17 of the Ch)rtties Act 2011 to have due regard to the Charity Commlsslon's guidance on publlc benefit. Achlevements and Pertormance MJln Achlevements A¢hlevements and p¢rform•n¢¢ Charltable actlvltSes The Trustees are pleased to report on thls year In whlch the Charlty fulfllled Its objectives. All funds recelved durSng the year have boen applled In meetln9 the Charlty's charltable oblectlves. Any surpluses irlslng from donations and other incame are held for the general beneflt of the Charity's operatlo#s. Fundralslng artlvltles The Charity depend5 heavily upon the continuing support ol devotees. We also thank all volunteers for their hard work durin9 the year, particularly those workSng wSthin the areas of Prashad preparations, various educational activities, car park duties, cleanin91 organlsed speclal events, decorations, and ether religlOUS OCtivilie5 and pray that they untinue to serye the Trust In the future. Flnanclal Revlew Pa9e I
OM Saravanabhava Seva Trust Trustees, Report (continued) For The Year Ended 31 May 2025 Financl81 Posltlo Financl31 posltion The Statement of Financl31 Activitie5 ISOFAI shows net incorne ènd expenditure for the year. The SOFA also shows the financial activity of the Charity.. At 31 May 2025. the Charfty had net èssets of £2,022,600 12024 É2,017,9481 Income Total income of £279.275 decreased from the prevlous year by £281.385. Investment pollcy and objectlves The Trustees, Investment powers allow the Trustees to Invest surplus funds to generate Income wlth whSch to fund future The Tru5tee5' investment pollcy Is to aim for safety, commensurate vilth Immedlate and planned Spending requirements and giveri the current vncertaintlE5 In the financial markets, the Trustees conslder It approprlate to be holdlng funds In deposit accounts where they achieve a sready retum. Reserves Pollcv The increase In unrestricted re5erve5 totaling to £2,022.600 12024 - £2,017,948), indicates that there are no material risk5 to the Trust's 8bility to operate as a 90ing concerri. As è result, the a¢count5 h8ve been prepared on a going concern ba51S. The Trustees hove confirmed that, arter careful revlew of the reserves pollcyi the rnost approprlate measure of reserves for the Charity Is by reference to the Charity's Ilquidlty position. A5 at 31 May 2025, In conslderlng the adeouacy of the reserrfe5, the Trustees have a reasonable expectatlon that the Charity ho5 adequate resources to continue In operntional exlstence for the foreseeable future. For thi5 reason. they have continued to adopt the going cencern bas15 concept In prepaflng the flnanclal staternents. The Trustees C0115ider the key rneJ5ure of sustalnability for the Charlty to be current future Itquidlty cover, rJther than the surplus or deficit accounting position. As a consequence, the Tru5ttse5 have set appropriate reserves policies relating to liguidity basetl on the relativnship between readily realisable assets, on-99ing level of donations received, and the cash requirements associated with 5UStaining the Charlty's operations for è year. In establishing this pollcyt the Board of Trustees conducts an annual revlew of the level of unrestricted reserves In the general fund by considerlng risks associated with the vaDuS Income streams. exPendUre plans and balance sheet Ittms. Thls enables an estimate to be made or the levtl ofrostrves that ère sufficlent.. te allow time for re-organisation in the event of a downturn in Income or •$$er vèlves,. to protect ongoing £harltèble project5,' and te allow the Charity to meet its objectives. Addltlonal Not* Flnanclal revlew Risks and Issues considered by the Board of Trustees in making thls lud9ement on the level of unrestricted reserves Include.. -Ilkelihood ef a downturn In Intome streams,. -year of time requlred to re-establish Income streams., -vear of time requlred to downsi2e the Charity operations., whether there Is adequate control ever budgets. and -requlrement5 for a reasonable level of working capital. The Trustees are of the vlew that with minimum ènnual Income of £250,000, maintalning unrestritted reserves of at leèst £25,000 wlll provide sufficlent resources In the event of adverse conditions. The Trustees have alse assessed other operationjl and business risk5 which they face and confirm that they have established systems to mltigate the sl9nificant In the event of the CharSty faclng difficult financial circumstances, th15 would allow it to continue operations durlng a year of managed adjustrnent to these new circumstances. The Trustees revlew the Charity's reserves polScy annually and are satisfied wSth thls level of unrestrScted reserves at the end of 2025 and are confident that the unrestricted reserves will continue to Increase in subsequent years. Laws and RegUlaonS The trustees recognise their statutory obllgations under the Cornpanies Act 2006 and the Charitles Act 2011 to prepare and file annual financial statements within the required deadlines. New trustee5 have been appointed to strengthen the board and to provide additional capacity and over51ght. Enhanced procedvrcs and controls have also beon implefflented to better manage statutory reporting and governance re5ponsibilitie5 going forward. -.CONTINUED Page 2
OM Saravanabhava Seva Trust Trustees, Report {continued) For The Year Ended 31 May 2025 Addbtional Note- contlnued The trustees remain comrnitted to upholding the highest standards of governance and rÈgulBtory compllance, and will continue to review ènd improve internal proce55e5 to ensure that the charity TneÈts all of its legal obligations in a tirnelv manner. Risk management The Trusrees have an Informal risk managernent strategy which cornprises.. Ongoing review of the risks the Charity may face,. Establishment of systems and procedures to mitigate those ris,. and Implementation of procedures designed to minimise any potential irnpact on the Charity should those risks rnaterialise. The Board of Trustees is responsible for the management of the risks faced by the Trust. Consideration of such risks is made on an informal ongoing basis and controls to rnitigate such risks are reviewed on on ongoing informal basis. A review and assessrnent of these controls is undertaken on an annual b451S. Through the above, the Tru5tee5 are satisfied that Fnajor risks identified are Subsequently tnitigated where nece554ry. It is recogni5ed that Systems can only provide re650nable but not ab501ute èssurante that tnajof ri5k5 h6ve been adequotely rnanaged. The activities of the Charity are dependent on Its abillty to raise funds from donations. The Trustees consider thi5 risk to be low a5 its donors are diverse and very supportive. The charitable expenditure Is largely discretlonary and can bt reduced to itlgate a substantial redurtion In income. Structure. Governance and Management Governing Document The tharity is Control by its governing dDcument. a deed of trust. and constitutes a Ilmited company. limY(ed by guarantee. as defined by the Companies Act 2006. The oryanisation is a charitable company limited by guarantee, incorporated on 10 May 2011. The company was established under a Memordndum of Association ¥vhich established the objerts and pc>v4ers of the compally and is govemed under its Article5 of A550Clation. In the event of cornpany being wound Upi rnernbers are required to contribute an arnount not exceeding £10. Trustee Selection Methods Recryitment and Appointment of Management Committee The dirertor5 of the company are also charity trustees for the purpose of tharity lèw and under the company's Artitles knosyn a5 mernbers of the managernent committee. Under the requiretnents of adopted Memorèndum and Artides tsf Association, directors of the Manègement Committee cèn only bÈ nomlnèted by the intumbent direttors by way of a speclal resolutlon requlrlng a majority of no less than 75%. Each director Is expetted to serve a perlod of no less than one year for the date of appointment and could bt eligible for re-appolntment via a appropriate resolution. Each member of the Managernent committee is from a different professional background and offers skills required for srnooth and efficient strategic and operational planning. Organlsatlonal structure The Trust Is a company limited by guarantee. The Trust Is a Registered Charity under the Laws of England and Wales, which is overseen by the Charity CommissiDn. The Trustees are responsible for the activities of the Trust and the day to day management. There are currently six members each giving a guarantee to contribute a 5urn, not exceeding £10, to the company should it be wound up. The governing document is the Articles of Association. Trustee Ihdurtlon and Tralning Nost trustees are already familiar with the practital ¥York Dr the charlty having been volunteered for the charity for the last ID years. Additionally. new tru5tee5 have an indurtion rtieeting with turrent trustee bDard and senior advi50ry team before having a formal meeting ¥Yith reg15tered Manager afid hi5/her staff whCh is aimed to familiarise them with day to day operations. tactical & strate9ic planning. The trustees are encouraged to attend serninars and training opportunities on governante. The trustees are constantly looking for profe55ional per50n5 to join the Board particularly with knowledge and expertise in Health and Social care, Human Resources ènd Financial management. Risk management ONTINUEO Page 3
OM Saravanabhava Seva Trust Trustees. Report (continued) For The Year Ended 31 May 2025 Trustee Selection Methods - continued The Management Corntnittee has conducted a reviÈw of the major risks to V4hich thÈ tharity is exposed. A risk system has been established and is updated at least annually. Where appropriate, systetns or procedures have been established to rnitigate the risk5 the thèrity faces. Significant external risks tu funding have led to the development of a strètegic plan s¥hich will allow for the diver5ification of funding ènd èciivifies. Internal contrel risks are minimi5ed by the ifflpletnentatio of protedures for authorisation of all transactions and pro)erts. During the year ended 31 May 2025. the Charity maintained robust goverriance procedures and continued to strengthen its risk management frafflework in line with the Charity Comrni5sion's governance code. The Board of Trustees conducted regular reviews of trustee suitability ind maintained appropriate oversight of all charitable activities. Additional Note STRUCTURE, GOVERNANCE AND MANAGeMeNT Prior to the year end, in April 2025, a former trustee was convicted of cnrninal offences in the UK courts. The individual was Suspended from trusteeship duties In June 2023 upon the commencernent of proceedings, followed b¥ resi9nation post- conviction en 7 Apr 2025. The ConvCtIon related to matter5 entirely vnconnected to their role as a trustee or any charitable activities of the Trust. Upon becoming a¥Yare of the convirtion, the trustees immediately reviewed all governante procedurts, confirmed that appropriate sèfeguèrding processes had been followed during the Individual's tenure, but also Invested In Improving current safeguarding tneasures. The Board took prompt action to assess any poiential reputational or operational Impact on the Chèrity and determined that no charitable funds or beneficiaries were affected by these matters. The trustees have fully cooperated with the Chènty Cornmi55ion 4nd followed all required reporting procedures. A comprehensive review of governance frameworks, trustee recruitrnent processe5. and safeguarding policies has been undertaken to ensure continued cornpliance svith regulatory requirernents and best practice standards. The Board retnains confident that robust decision making procedures, governance structures and a re5pon5ible appr1Ch to delegation Bre i place to protect the Charity'5 assets, beneficiaries, and reputation. The trustees continue to act In the best interests of the Charity and its beneficiaries, maintaining the hIght standards of govemantt and regulatory compliance. Reference and Admlnlstratlve Detalls Trustees Ms Bèhèva Subrèffl4niatn lappointed 04105120251 Mrs Theivatheeswary SelvÈndran Mr Ponnuthurai Aingaran Dr Amlan Roy (appointed 04105120251 Mr Ashu Mehta Mr Sindugen Selvalingam Professor Ramnath Narayanswamy Charity Number 1142610 Company Number 076291)43 Independent Examiner Majuran Pushpanathan ACNA Ace Accountsnts & Tax Consultants Ltd Chartered Management Accountants 127 Fencepiece Road 62LQ Page 4
OM Saravanabhava Seva Trust Trustees, Report (continued) For The Year Ended 31 May 2025 Small Company Rules This report has been prepared in accordance with the special provisions relating to cornpanie5 subject to the stnall companie5 regitne within Part IS of the Companie5 Art 2DO6. The trustees, report was approved by the board of trustees and signed on its behalf by.. Mrs Theivatheeswary Selvendran Trustee 2810212025 Page 5
OM Saravanabhava Seva Trust Independent Examiner's Report to the Trustees of OM Saravanabhava Seva Trust For The Year Ended 31 May 2025 I report to the charity trustees on rny examination of the account5 of the Company for the year ended 31 May 2D25. Re5ponslbllitles 4nd aas15 of Report As the charity trustees of the Company land also its directors for the purposes of company lawl, you are responsible for the preparation of the accounts In accordance with the requirements of the Cornpanies Act 2006 I-the 2D06 Att-i. Hav1ng satisfie(l fflyself that the accounts of the Cofflpany are not required to be audited under Part 16 of the 2006 Act and re eligible for Independent exatnination, I report In respect of ffly exarnination of your charity's accounts as carrSed out under Section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying out Tny exarnination I have fc>llowed the Directions given by the Charity Corntnission under section 145151 Ibl of the 2DII Act. fndependent Examlner's Statement Since the Company's gross Income exceeded £250,000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of The Chartered In5titvte of Nonagement Accountants. which Is one of the listed bodies, I have cornpleted my exarnin8tion. I conflrrn thot no matter5 have come to my attentlon In connectlcn wlth the examlnatlon glving me cause to belleve.. l. accounting records were not kept In respect of the Company ès requlred by sectlon 386 of the 2006 Art: or 2. the accounts do not accord wlth those records,. or 3. the accounts do not comply with the accounting requlrements of se£tlon 396 of the 2006 Act other than any requlrement that the accounts give a 'true and fair vlew, which Is not a matter consldered as part of an Independent examination., or 4. the accounts have not been prepared In accordance with the methods and princlples of the Statement of Flecornmended Practice for accounting and reporting by charities applicable to charitles preparing thelr accounts In ccordance with the Flnanclal Reportin9 Standard applicable In the UK and Republlc of Ireland IFRS 1021. I have no concerns and have come across no other matters In connectlon wlth the examinatlon to whlch attentlon should be drawn In thls report In order to enable a proper understanding of the accounts to be reached. Maiurèn Pushpanathan ACMA 2810212025 127 Fenceplece Road Ilford IG6 2LO AG• A¢countnt• & TIX Con•ult•Trl• Ltd Chartered M&n8g#m•nl A¢couftlants 127 F•nc•pl•C• Road, lrford f••èx.1G6 2LD T D?OJ 550 5369 I M. 07)5 5555c(sI W. ww.8ce•Goiunt•nM c¢ Page 6
OM Saravanabhava Seva Trust Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 May 2025 2025 2024 Unrestricted Unrestricted funds funds Notes INCOME AND ENDOWMENTS FROM: Donations and legacies Other tr6ding artiyities Investments 276,083 1,249 1,943 558.129 701 1,830 279,275 560,660 EXPENDITURE ON: Charitable activitie5'. Charitable Activities 1274.6231 1655,3071 NET INCOMEIIEXPENDITURE) 4,652 194,6471 NET MOVEMEPITIN FUNDS 4,652 194.6471 RECONCILIATION OF FUNDS: Total fvnds brought forward 2,017,948 2,112.595 TOTAL FUNDS CARRIED FORWARD 16 2,022,6DO 2,017,94B The notes on page5 10 to 16 form part of these finantTèl statements. Page 7
OM Saravanabhava Seva Trust Balance Sheet As At 31 May 2025 2025 2024 Unrestrlcted funds Total funds Notes FIXED ASSETS Tangible Assets li 2.073.607 2,105,820 2,073.607 2,105,820 CVRRENT ASSETS Stocks 12 3,120 119,623 3.120 92,746 C45h at bank and in hand 122,743 95,866 Creditors: Amounts Falling Due Wlthin One Year 13 1163,2391 1162,9811 NET CURRENT ASSETS (LIABILITIES) 140,496} 167,115) TOTAL ASSETS LESS CURRENT LIABiunes 2.033,111 2.038.705 Creditors: Amounts F3111ng Due After More Than One Year 14 110,511) 120,757) NET ASSETS 2,D22,600 2,017,948 FUNDS OF THE CHARITY Unrestrirted Funds 2.022.600 2.017,948 TOTAL FUNDS 16 2.D22,600 2,017,948 For the year ending 31 May 2025 the charStable company was entitled to exemption frorn audit under section 477 of the Cornpanies Act 2006 relating to small companies. The members have riot required the chèritable cornpony to cbtèin on audit in accordance with section 476 of the Companies Act 2006. The trustees acknowledge their responsiblllties for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the previsions applicable to companies sublert to the small companies regirne. On behalf of the board Mrs Theivatheeswary Selvendrnn Trustee 2810212025 The notes on pages 10 to 16 fom part of these financial statements. Page 8
OM Saravanabhava Seva Trust Cash Flow Statement For The Year Ended 31 May 2025 2025 2024 Notes CJ5h flows from operating artivities et cash gener3ted from operations Interest paid 15,717 14031 41,450 16S71 et cash geneoted frorn operating artivities 15,314 40,793 Cash flows from In¥estlng actlvltles Purchase of tangible assets Proceeds from disposal of tangible assets Interest received (139.2241 19,732 1,943 1,830 Net cash generated froffl/lused inl investing activities 21,675 {137,3941 Cash flows from financlng actlvltles Repayment af bank borro¥Ying5 110.1121 19,9911 Increaselldecreasel in cash and cash equivalents C35h ond cash equivalents at beginning of yeor 26,877 92,746 1106,5921 195,464 Cash ènd tash equivalents at ené of year 119.623 88.872 Pège 9
OM Saravanabhava Seva Trust Notes to the Cash Flow Statement For The Year Ended 31 May 2025 Reconciliation of income/lexpendSture) to cash generated from operations 2025 2024 Net incotnellexpenditurel Adjustments for.. Interest expense Interest Income Depreciation of tangible assets Profit on disposal of tangible assets Novement5 working capital.. Decrease iri trade and other debtofs Increase in trade and other creditors 4.6S2 194.6471 4D3 657 11,8301 27,829 11,9431 27,598 115,1 L71 6,000 103.441 124 Net Cè5h generated from operations 15,717 41,450 2. Cash and cash equl¥alents C65h and cash equivalents, as stated in the Statement of Cash Flows, relates to the following Items in the Balance Sheet.. 2025 2024 Cash at bank and in hand 91 119,532 14.0081 91 Short terrn dep051ts including current a55et investments (less than 3 months) Overdrart facilities repayable on dernand 92.655 13.B741 Cash and cash eqijivalents as Stated ia the Statement of Cash Flows 115.615 88,872 3. Analysls of changes In net funds As at l June Cash flows As at 31 May 2024 2025 Cash at bank and in hand 92,746 13,8741 120,7571 26,877 11341 LO,246 119.623 14,0081 110.5111 Debts falling due within one year Debts falling due after more th4n one year 68,115 36.989 105,104 Page 10
OM Saravanabhava Seva Trust Notes to the Financial Statements For The Year Ended 31 May 2025 General Information OM Saravanabhava Seva Trust is a CompaY limited by guarantee. incorporated in England & Wale5. registered nurnber 07629043 and registered thèrity number 1142610. The fegisrered office is 2. Accounting Policies 2.1. Basis of Preparation of Finan¢i41 Statements Basls of prepanng the financial statetnents Om Saravanabhava Seva Trust Is a pnvate company limited by guarantee in England. The address of the registered office is detailed as part of the report to the trustees of these financial statements. The nature of the charitV'5 operations and prlnclpal artivlties are the advancement of education in culture and art. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared In accordance with Accounting and Reporting by Charities.. Statement of Recornrnended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland Issued in October 2019, the Financial Reporting Stsndard applicable In the United Kingdom and Republic of Ireland IFRS 1021, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accountlng Prathce. The financial statefflents are prepared on a going concem basis under the historical cost convention, modified to include certain itern5 at fair value. The financial statements are presented in sterling which is the functional currency of the charity antl rounded to the nearest £1. The significant accounting polic$ applied In the prepar3tlon of these finandal statements are set out belovi. These policies have been consistently applied to all years presented unless Othere stated. 2.2. Going Concern Disclosure The tru5tee5 have assessed the charity's ability to continue as a goin9 concem in light of a significant reduction In income following the disTUPtion taU5ed by the resignation of a key trustee in April 2025, who had previously played central role in the charity's fundraising and cornrnunity engagetnent activities. Thi5 event has directly resulted in a decrease in Incoming resources of approximately £1,529,000, leading to a redurtlDn in cash reserves of around £IOO,000 and a net current asset deficit at year end. ThÈ trustees recognise that the 1055 of this individual's involvernent has had a material ané ongoing Impatt on the charity's ability to generate income. and projection5 indicate a contsnued trend in the short term. In response, the trustets have implernented cost control measures and are actively seeking altemative 50urce5 of funding to stabilise the charity's finances. The chanty retains substantial fixed assets and overall net assets remain positive, which provides a degree of financièl resilience. Based on current forecasts and prudent management of resources, the trustees believe the charity can continue to meet its obligations as they fall due for at least the next twelve months. Nevertheless, the trustees acknowledge that a material untertainty EXISts due tv the ongolng reduction in incoThe and the current net current asset deficit. While steps are being taken to address these challcnge5, the charity's continued bility to operate as a going concern is dependent on the successful Implementation of these measures. Accordingly. the financial Statements have been prepared on a going concem basis, but this materlal uncertainty may cast significant doubt on the charity's ability to continue as a geing concern beyond the foreseeable future. 2.3. Incoming Resources All incorning resource5 are included in the Statement of Financial Activities ISOFAI when the charity is legally entitled to the incorne after any perforrnance conditions have been rnet, the amount can be measured reliably and it is probable that the iacorne will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement. If there are conditions attached to the donation and this requir a level of performance before entitlement can be obtained then incorne 15 deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity 4nd it is probable that they will be fulfilled. Donated facilities and donated professiDnal services are recOglsed in income 4t their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Falr value Is detemilned on the basis of the value of the gift to the charity. For example, the arnount the charity would be willing to pay in the open rnarket for such facilities and services. A corresponding amount is rogniSed in expenditure. No amount is included in the finanti31 statements for volunteer brne in line with the SOKP. Further detail is given In the -Anntsal Report.-.- Where practicable, gifts in kind donaied for distribution to the beneficiariemf the charity are included in stock and donations in the financial 5tatetnents upon receipt. If it is impracticable to a55ess the fair value at receipt or if the costs to undertake such a valuation outsyeigh any benefit5, then the fair value is recogni5ed as a component or donation5 when it is distribjted and an equsvalent amount recognised as charitable expenditure. .CONTINUEO Page 11
OM Saravanabhava >eva Trust Notes to the Financial Statements (continued) For The Year Ended 31 May 2025 2.3. Incoming Resources- continued Gifts in kind donated for resale ore included at fair value. being the experted Proceeds frorn sale le5S the expected costs of sale. Where estimating the fair value Is pCticable upon receipt it is recognised in stock and 'Incotne from other trading activities,. Upon sale, the value of the stock 15 charged against 'lncome from other trading activitie5. and the proceeds are recognised as 'lncome frotn other trading attivitlQ5'. Where it 15 Irnpractic8ble to fair value the itetns due to the volume of low value Itern5 they are not recogni5ed in the finèncial statement5 until they ère sold. This income 15 recogni5ed within 'lncome frorn other trading activitie5'. Fixed asset gifts in klno are recognlsed when recelvable and are Included at falr value. They are not deferred over the life of the asset. For legacies, entitlement is the earfier of the charity being notified of an impending distribution Dr the legacy being received. At th$ point Income is recogni5ed. On occ45ion legacies will be notified to the charity however it is not possible to rneasure the arnovnt expected to be (Jistributed. On these occasions, the legacy 15 treated as a contingent assel and disclosed. Incoffle frotn trading artiyitiÈs includes income earned from fundraising events and tdIng actlvities te raise funds for the charity. Income is reteived In exchange for supplying 9oods and seryices in order to raise funds and is recognised when entitlemtnt has occurred. Investment income is earned through holding a55ets for investment purp05e5 such a5 share5 and property. It include5 div1dend5, interest and rent. Where it is not practitable to identify investmenr management costs incurred withSn a scheme with re450nable accuracy the investFnent Income is reported net of these costs. Ir is included when the amount can be rneasured reliably. Interest income 45 recD9nised using the effective Interest method and dividend and rent income is recognised as the charity's right to receive payment is established. 2.4. Tanglble Flxed A55ets and Deprerlation Tangible fixed assets are me4sure(l at C05t le55 accurnulated depreciètion and any acturnulated ifflpaiment losses. Depreciation 15 provided at rates calculated to write off the c05t of the fixed a55ets, less thtir estimated resldual value. over their expected useful live5 On the following bases.. Freehold Leasehold Motor VÈhicles Fixtures & Fittings Computer Equipment 1% Straight Line 20Qh Reducing balance 20% Straight Line 2.5. Stocks and Work in Progre55 stock5 and work in progres5 are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost is determined using the first-in, first-out method. Cost Includes all direct costs and an appropriate proportion of fixed and vanable everheads. Work in progress is reflerted In the accounts en a contract by contract basis by recording tumover and related costs as contract activity progresses. At the end of each reporting period 5tock5 are ossessed for impairrnent. Ir an itern of stock is itnpaired, the Identified stock is reduced to its selling price less costs to complete and Sell and an impairment charge Is [09n]Sed In the statement of financial artivities. Where a reversal of the Impairrnent IS required the impairment charge is reversed, up to the original itnpairment1055, and is reco9nised as a credit in the statement of financial activiti¥. 2.6. Cash and Cash Equivalents Cash and cash equivalents a basic flnancSal assets and Include cash in hand and deposits held at call with banks, other short-term highly liquid Investments thar mature in no more than three months from the date of acquisition and are readily convertible to a known 4rnount of cash with insignificant risk of change in Value, and bank overdrafts. 3. Income from Donatlons and Legacles Page 12
OM Saravanabhava Seva Trust Notes to the Financial Statements {continued) For The Year Ended 31 May 2025 1025 2024 Unrestrirted Unrestrlcted fund5 funds Donations and gifts Gift aid 177,052 99.031 315,323 57,582 185,224 Money box collettion 276,083 558,129 4. In¢ome from Other Tradlng Actl¥ltles 2025 2024 Unrestrfcted Unre*trl¢ted funds funds Just 9lvlng projects 1,249 701 5. In¥e%tment Jn¢•me 2025 2024 Unre5trlrted Unrestrl¢t¢d funds fund6 Bank interest recelvable 1.943 1,830 6, Net In¢ome/lExp¢ndlture) The net incomellexpenditurel is stated after charging1lcreL11tingl.' 2025 2024 Depreciatlon of tJnglble flxed ¥s$ets . owned GalnlL055 on dlsposal of tanglble flxed assets 27,S98 115,1171 27,829 7, Anèlysls of Expendlture 2025 Artlvltles ndertaken dlrertly Grant fundlng ol actlvltles Support costs 15ee note 81 Tot•1 Charltable Actlvlties 40,543 6,798 227.282 274,623 2024 Grant funding of artlvitles Support 05ts lsee nott 8) Totsl Charitable ACtivIeS 164.639 490,668 655.307 Page 13
OM Saravanabhava Seva Trust Notes to the Financial Statements (continued) For The Year Ended 31 May 2025 8. Support Costs 2025 Charltabl¢ Actlvlties Employee costs PreTni5es expenses General Jdministration Depreclotion Interest payable 22,394 164,109 27,895 12,481 403 227,282 2024 Chèrltable Artl¥ltles Employee costs Premlses expenses General adminlstratlon Depreclatlon Interest payable 33,616 241,413 187,153 27,829 657 490,668 9. Stsff Colts Staff costs were as follows.. 2025 2024 Wages and $alarie$ 12,799 9,714 No employees received employet benefits (excluding employer pension c05t51 for the reportlng perlod of more than £60,000. 10. Averthge Number of Employees Average number of emplDyee5 during the year was.. 3 12024.. 2) I l. Tanglble Assets Land & Propertv Freehold Lejsehold Motor Vehicles Flxtures & Fittin9S Cost As at l June 2024 Dlsposals 650,000 1,444,027 14,084 114,0841 30,542 As at 31 May 2025 650,000 1,444,027 30,542 .CONTINUED Page 14
OM Saravanabhava Seva Trust Notes to the Financlal Statements (continued) For The Year Ended 31 May 2025 Deprecljtion As at l June 2024 Provided during the pertod Disposals 31,470 20.890 9,469 923 19,469) 5,902 5,785 A5 at 31 May 202S 52.360 923 11,687 Net B•tsk V•lu• As at 31 May 2025 650.000 1.391,667 {9231 18.855 A5 at l June 2024 650,000 1,412,557 4,615 24,640 Computtr Equlpment Total Ctsst As at l June 2024 Disposals 14,008 2,152,661 114,0841 A5 at 31 May 2025 14.008 2,138,S77 Depreclatlon As èt l June 2024 Provided durin9 the perlod Olsposa15 46.841 27,598 19,4691 As at 31 May 2025 64,970 Net Book Value As at 31 May 2025 14.008 2,073,607 As at l June 2024 14.008 2,105.820 12. Sto¢k• 2025 2024 Stock 3.120 3.120 13. Credltors: Amounts Palllng Due Wlthln One Y*•r 2025 2024 Bank loans and overdrafts Other tdiE0r5 Accruè15 and deferred income 4,008 137,571 21,660 3,874 137,207 21.900 163.239 162.981 14. Credltors." Amounts F•lllng Due After More Th4n One Y¢•r 2025 2024 Bank ID•ns 10,511 20,757 Page 15
OM Saravanabhava Seva Trust Notes to the Financial Statements (continued) For The Year Ended 31 May 2025 15. Loons An analysB of the maturity of loans is given below.. 2025 2024 AmntS falling due within one year or on demand- Bank loans 4.008 3,874 2025 2024 Am¢unts falling dve betwttn one ond five years.. Bank loans 10.511 20.757 16. Mo¥•ment In Funds As at l Jun* 2024 A• at 31 Mav 202S Lncome E¥pendlture Unrestrlrted fund• General.. General unrestrfctel fund 2.017.948 279,275 1274,623} 2,022.600 Total funds 2.017,948 279,275 {274.6231 2,022,600 As •t l Jufte 2023 As at31 May 2024 In¢•me Expewbdlture Unrejtrlrted fund• General.. General unrestricted fund 2,112,595 560.660 1655,3071 2,017,948 Tot•1 tunds 2,112.595 S60,660 1655,3071 2,017.948 17. Tr•ns•rtlons wlth TNstee¥ Durfn9 the year the expenses reirnbur5el to the trnstee5 or directly to thbrd partles were a5 follows.. 2025 2024 18. Related Party Dlsclosures 19. Company Ilmlted by gu4rantee The company is Iirnited by guarnntee and hès no share coprtal. EverTmember of company DndEthke5 to contrityjte tD the aS5etrtny." InrtlThert of a ¥Tlg up, 5vch an "-" amount as may be required not exceeding £1. Page 16
OM Saravanabhava Seva Trust Detailed Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 May 2025 2025 2024 Total lunds Total funds INCOME AND ENDOWMENTS FROM: Donations and le9acies Donations Gift aid Income from donations •nd legacie5 177,052 99.031 315,323 57.582 185.224 276,083 558.129 Other tr•dlng •ctlvltles Just givlng projects 1.249 701 1.249 701 Investments Bank Interest recelvable 1,943 1.830 1,943 1.830 279,275 560.660 ExpeNDITURÈ or4: Charltable A¢tlvltles: Ch•rltable Actl¥ltle• Cost of ra151ng funds Gronts to Institutlons Wages ènd salarles Staff welfare Travel and subslsrence expenses Rent Rates Light and heat Aepalrs and malntenance Security ¢o$rs omputer softwore costs 1fi5urance Printingi POStage and statlonery Advertlslng and marketing costs PR expenses Telecommuniution5 Audit fee5 Accountancy fees Professional fees other services Bank charges Depreciation of motor vehic$ Depreeiation of fixture5 aThd flttln9S 140.543) 16,798) 112,799} (164,6391 19,7141 14931 123,4091 197.017) 117.6701 126.806) 199,920) (9.5951 118,5001 19,0171 126,9521 18,807) 1100,833) 11.353) 18.218) 1504) 11,931) 16231 12.4611 13.4051 16,3201 142,7591 13,4041 19,7001 (2.8051 (1,2001 110,7751 (1,0431 1661 {9231 15.7851 1115.412) 13,069) 11,154) 15,7851 Page 17
OM Saravanabhava Seva Trust Detalled Statement of Financial Activities (including Income and Expenditure Account) (continued) For The Year Ended 31 May 2025 Depreciation of leasehold land and property Loss on disposal of tangible fixed assets Bank loan interest 120,8901 15,117 1403) 120,8901 16571 1274,6231 1655,3071 1274,6231 1655.3071 NET INCOME/{EXPENDThURE) 4.6S2 194.6471 Page 18