## 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 Page 1 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 Page 2 ## 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 Page 3 ## 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 Page 4 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 Page 5 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. Page 6 continued... 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| Page 7 continued... 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| |---|---| Page 8 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 Page 9 ## 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| |---|---|---| This page does not form part of the statutory financial statements Page 10 ## 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 Page 11 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.