Report of the Directors and
Unaudited Financial Statements for the Year Ended 31 July 2022
for
World Shirdi Sai Baba Organisation (UK)
World Shirdi Sai Baba Organisation (UK)
Company Information for the Year Ended 31 July 2022
DIRECTORS:
DIRECTORS: Mr Vinayagan Periasamy Mr Kannan Periasamy REGISTERED OFFICE: 298 High Street North London E12 6SA REGISTERED NUMBER: 07328832 (England and Wales) ACCOUNTANTS: HT Accountants & Co LLP Unit 3 Ibex House 2A Leytonstone Road Stratford London E15 1SE
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World Shirdi Sai Baba Organisation (UK)
Report of the Directors
for the Year Ended 31 July 2022
The directors present their report with the financial statements of the company for the year ended 31 July 2022.
PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of activities of religious organisations.
DIRECTORS
The directors shown below have held office during the whole of the period from 1 August 2021 to the date of this report.
Mr Vinayagan Periasamy
Mr Kannan Periasamy
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
ON BEHALF OF THE BOARD:
Mr Vinayagan Periasamy - Director
28 April 2023
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World Shirdi Sai Baba Organisation (UK)
Income Statement
| for the Year Ended 31 July 2022 Notes TURNOVER Cost of sales GROSS PROFIT Administrative expenses Other operating income OPERATING PROFIT and PROFIT BEFORE TAXATION Tax on profit PROFIT FOR THE FINANCIAL YEAR |
31.7.22 £ 517,841 45,113 472,728 241,329 231,399 9,029 240,428 - 240,428 |
31.7.21 £ 385,434 64,898 320,536 177,149 143,387 64,416 207,803 - 207,803 |
|---|---|---|
The notes form part of these financial statements
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World Shirdi Sai Baba Organisation (UK) (Registered number: 07328832)
Balance Sheet
31 July 2022
| Notes FIXED ASSETS Tangible assets 5 CURRENT ASSETS Stocks Debtors 6 Cash at bank and in hand CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 8 NET ASSETS RESERVES Retained earnings |
31.7.22 £ £ 798 11,174 18,750 618,835 648,759 5,326 643,433 644,231 39,787 604,444 604,444 604,444 |
31.7.21 £ £ 1,065 10,676 18,750 386,591 416,017 3,066 412,951 414,016 50,000 364,016 364,016 364,016 |
|---|---|---|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
-
(a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The notes form part of these financial statements
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continued...
World Shirdi Sai Baba Organisation (UK) (Registered number: 07328832)
Balance Sheet - continued
31 July 2022
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2023 and were signed on its behalf by:
Mr Vinayagan Periasamy - Director
Mr Kannan Periasamy - Director
The notes form part of these financial statements
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World Shirdi Sai Baba Organisation (UK)
Notes to the Financial Statements for the Year Ended 31 July 2022
1. STATUTORY INFORMATION
World Shirdi Sai Baba Organisation (UK) is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings 25% Reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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World Shirdi Sai Baba Organisation (UK)
Notes to the Financial Statements - continued for the Year Ended 31 July 2022
2. ACCOUNTING POLICIES - continued Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
3. EMPLOYEES AND DIRECTORS
The average number of employees during the year was 10 (2021 - 3).
4. OPERATING PROFIT
The operating profit is stated after charging:
| 31.7.22 | 31.7.21 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 267 | 803 |
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World Shirdi Sai Baba Organisation (UK)
Notes to the Financial Statements - continued for the Year Ended 31 July 2022
| 5. TANGIBLE FIXED ASSETS COST At 1 August 2021 and 31 July 2022 DEPRECIATION At 1 August 2021 Charge for year At 31 July 2022 NET BOOK VALUE At 31 July 2022 At 31 July 2021 6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Other debtors 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts Trade creditors Taxation and social security 8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Other creditors |
Plant and machinery etc £ 1,893 828 267 1,095 798 1,065 31.7.22 31.7.21 £ £ 18,750 18,750 31.7.22 31.7.21 £ £ 4,484 2,133 240 47 602 886 5,326 3,066 31.7.22 31.7.21 £ £ 39,787 50,000 |
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World Shirdi Sai Baba Organisation (UK)
Report of the Accountants to the Directors of World Shirdi Sai Baba Organisation (UK)
As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 July 2022 set out on pages three to eight and you consider that the company is exempt from an audit.
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
HT Accountants & Co LLP Unit 3 Ibex House 2A Leytonstone Road Stratford London E15 1SE
28 April 2023
This page does not form part of the statutory financial statements
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World Shirdi Sai Baba Organisation (UK)
Trading and Profit and Loss Account for the Year Ended 31 July 2022
| Turnover Donations and events Rents received Bank interest received Cost of sales Opening stock Food, Garland offerings and activities Sub contractors Closing stock GROSS PROFIT Other income Employer's incentive Government grants Exchange gains Expenditure Rent Rates and water Insurance Light and heat Profit/loss on sale of tangible fixed assets Wages Social security Pensions Telephone Post and stationery Advertising Travelling Motor expenses Service charge payable Repairs and renewals Import Duty Household and cleaning Computer costs Sundry expenses Carried forward |
31.7.22 £ £ 501,013 16,800 28 517,841 10,676 27,426 18,185 56,287 (11,174) 45,113 472,728 3,181 5,559 289 9,029 481,757 109,947 6,485 4,361 7,498 - 66,839 3,181 693 284 3,192 1,921 536 - 207 5,988 3,621 - 2,452 4,534 221,739 481,757 |
31.7.21 £ £ 364,418 21,000 16 385,434 20,173 28,985 26,416 75,574 (10,676) 64,898 320,536 - 64,006 410 64,416 384,952 91,898 7,843 2,853 6,034 224 23,289 - - 1,086 - 846 2,885 1,212 5,429 12,809 - 1,767 4,431 4,765 167,371 384,952 |
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This page does not form part of the statutory financial statements
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World Shirdi Sai Baba Organisation (UK)
Trading and Profit and Loss Account for the Year Ended 31 July 2022
| Brought forward Accountancy Subscriptions Legal fees Depreciation of tangible fixed assets Fixtures and fittings Motor vehicles Finance costs Bank charges Credit card NET PROFIT |
31.7.22 £ £ 221,739 481,757 3,120 583 3,091 266 - 228,799 252,958 11,216 1,314 12,530 240,428 |
31.7.21 £ £ 167,371 384,952 1,728 1,099 3,036 355 448 174,037 210,915 1,161 1,951 3,112 207,803 |
|---|---|---|
This page does not form part of the statutory financial statements
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World Shirdi Sai Baba Organisation (UK)
Contents of the Financial Statements for the Year Ended 31 July 2022
| Page | |
|---|---|
| Company Information | 1 |
| Report of the Directors | 2 |
| Income Statement | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 6 |
| Report of the Accountants | 9 |
| Trading and Profit and Loss Account | 10 |
World Shirdi Sai Baba Organisation (UK)
Notes wholly REPLACED and/or accounting policies totally IGNORED and/or accounting policies with text REPLACED by user's choice on client screen entries for the Year Ended 31 July 2022
No notes have been replaced completely by user entries.
None of the standard accounting policies has been ignored.
The following standard accounting policy has been REPLACED completely by user entries.
TANGIBLE FIXED ASSETS
PLEASE CHECK THAT THIS CHOICE IS CORRECT - all changes that would automatically be made to notes generated by IRIS as a result of posting amendments etc WILL NOT BE AMENDED where REPLACEMENT notes have been selected.