Charity Registration No. 1143043 Company Registration No. 07517633 (England and Wales) HINDU TAMIL CULTURAL ASSOCIATION (ENFIELD) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
HINDU TAMIL CULTURAL ASSOCIATION (ENFIELD) LEGAL AND ADMINISTRATIVE INFORMATION Trust805 Mr Tharnpippillai Manmatharajah Mr Navaratnam Shanrnuganathan Mr Ponniah Kailayapalhivagan Mr Sundararnpillai Siva¢handran MrAnthonipillai Kanlharuban Mr Kanagasabapathy Mathi500dy Mr Kabilan Ganeshamoorthy Mr Jeevah Haran Secretary Mr Thampippillai Manmalharajah Charity numb8r 1143043 Company number 07517633 Reglstered office 61-65 Church Lane Edmonton London N9 9PZ Auditor Moore NHC Audit Limited 73-75 High Street steven8ge Hertlordshire SG1 3HR Bankers Barclays Bank plc Th8 Enfield Group 20 The Town Enlield Middlesex EN2 6LY HSBC Bank plc 17 The Broadway Southgate London N14 6PP
HINDU TAMIL CULTURAL ASSOCIATION (ENFIELD) CONTENTS Page Trustees, report Statement of Trustees, responsibilities Independent auditor's report statem8nt of financial activities Balance sheet 10 Slalement ofcash flows Notes to the financial statements 12-22
HINDU TAMIL CULTURAL ASSOCIATION {ENFIELD) TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report and financial stalements lor the year ended 31 Dec8rnb&r 2024. The financial statements have been prepared in accordance with the accounting policies sel out in note 1 lo the financial statements and comply wilh the Charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Charities SORP Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities pparIng their accounts in accordan with the Financial Reporting Standard applicable In the UK and Republic ol Ireland IFRS 1021" Objectives and activitK85 The Charity's objects are specili¢ally r85tricted to the following.. To advance th8 Hindu Religion in particular bul not exclusively by the establishrnenl and management of the Nagapooshalli Ambaal Temple,. and the adVanrnent ol education in th8 Tarnil Language, Culture and Art. To further it5 objects, the Charity may.. Oroanise events and lo arrange activitie5 to raise funds for progress I promotion ol Nagapooshani Ambaal Temple and objectives of the Trust., Establish Nursery and Hindu Religious and Educational Institutions for the bfynefits of the Hindu Communily.. Raise funds, invite and re1ve contributions from p8rson or person5 by way of subscriptions and otherwise provided that the Trust shall not und8rtak8 trading activities in r8i5ing fLJnds for the said objects.. and Invest the monies ol the Trust not imtnediately required lor the said objectives in or upon such investment, securities or property 85 may be thought fit, subject neveriheless lo such conditions lif any) as may for the lime being be imposed or required by law. The Trustees have considered the guidance contained in th8 Charity Cornrnission'5 general guidance on public benefit in reviewing the Charily's aims and objective5 and in planning its future activities. Public benefit The Charity has achieved the public benefit objectives by rreeting the spiritual requirements of the congregation. This was achieved by holding the daily poojas. arti and discourses. All key festival and ieligious dates are observed and lebrated by the devotees. Volunteers The Charity d8P8nds heavily upon the continuing support ol devotees. We also IharTrk 811 volunt88rs for their hard work during the year, particularly those working within th8 ar88s of Prashad preparatlOn5. various educational activitie5, car park duties, cleaning. organised special events, decorations, and other religious aclivilies and pray that they continue to serve the Tryst in the future. Although volunteer contribution is integral to the contribution of the Charity, It is difficult to quantify the number of voluntary hours Served by the devotees. Achi•v8monts and performance The Trustees are pleased to report on this year in which the Charity luifilled its objectives. All lund5 received during the year have been applied in meeting the Charity'5 charitable objectives. Any surpluses arising from don8tion5 and other income are held for the general benefit of the Charitls operations. Financial review The Slalemenl of Financial Activities ISOFAI shows net income and expenditure for the ye8r. Th8 SOFA also shows the financial activity of the Charity distinguishing bgtween reslrioted and unrestricted activities. At 31 Decetnber 2024. the Charity had net 8S5ets of approximately 23.6 million12023- £3.5 million).
HINDU TAMIL CULTURALASSOCIATION (ENFIELD) TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEIWBER 2024 Incoma The Tiuslees were pleased with the level of incorne during the year. Income decreased from th8 previous year with a net income for the year at £177,94312023- £180,017). Reserves policy and going concern The Iru5tee5 consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trust is totally reliant on donations, taking all these factors into account, next year, s income is b8sed on the expectation of the government guidelines. No doubt, our core expenses will also refl9cI proportionally however. having pr8pared a foiecast for this period the trustees have noted that even though income has incread compared lo pre-covid level, costs have also increased due to higher inflations and other econotnic factois. The Trust recogni5es the importance of having reserv8s. Th858 fullds ale freely available to spend on any of the Charily'5 purposes and hen exclud8 r8Stricled funds. An increase in unrestrided reserves of £186.47612023 £177,382) indicates that Ihero are no material risk5 to the organisalion's ability to OP8rate as a going concern. As a SuIt, the accour)Is havg b88n prepared on a going collrn basis. The Trustees have confirmed that, after careful review of the reserves policy, the most appropriate measure of reserves for the Charity is by r8ference to the Charity's liquidity position. As al 31 Decemb8r 2024, in considering the adequa¢y of the resetve5, the Trustees have a reasonable expectation that th8 Charity ha5 adequate resources to continue in operational existence for the foreseeable future. For this reason, they have corilinued to adopt the going concern basls concept in preparing the finan¢i81 statements. The Trustees consider the k8y m88sur8 of 5uslainabilily for the Charity to be current and lulur9 liquidily cover. rather than the surplus or deficit accounting position. As a consequence. the Trustees have set appropriate reserves policies r&lating to liquidity based on the relationship between readily realisable assets, on-goino level ol donations received, and the cash requirements associated with sustaining the Charity's operations for a year. In establishing this policy, the Board of Trustees conducts an annual review ol the level ol unrestricted reserves in the general fund by ¢onsid8ring risks associated with the varu$ income streams, expenditurg plan5 8nd balance sheet items. This ellables an estimate to be made ol the level of reserve5 that are suffltrient.. to allow time for re-org8ni88tion in the event of a downturn in income or asset values., to protect ongoing work programme,. and to allow the Charity to tneet tS objectives. Risks and issues considered by the Board of Trust8es in making this judgetnent on the level ol unrestricted reseNes include.. likelihood of a downturn in inwme streams,, year of time required to re-e5tablish income streams., year of time required to downsize the Charity opgrations., whether the is adequate control over budgets., and requirements for a reasonable level ol working capital. In the gv8nt of the Charity facing difficult financial circurnstans, this would allow it to continue operatitsns during a y8ar of managed adjustment to these new circurn5tances. The Trustees review the Ch8rity'5 reserves policy annually and are satisfied with this 18V81 of cash r8S8rv88 at the end of 2024 and are confident that the cash reserves will continue to in¢rg8se in 5ub5equent years.
HINDU TAMIL CULTURAL ASSOCIATION (ENFIELD) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEIWBER 2024 Investments policy The Trustees. investment powers allow the Trust88S to invest surplus fund5 to generate income with which to fund future activities. The Tru5tees' inveslmenl policy is to aim for safety, comrnensurale with immediate and planned spending requirements and given the cuirent uneertainlies in the linancigl mark815, the Trustees consider il appropriate lo be holding funds in deposit accounts where they achieve a steady return. Risk management The Tiustees have an informal risk rnanagement strategy which comprises.. Ongoing review ol the risks the Charity may lace., Establishment of system5 and protsdures to miligate those risks,. and Implementation of procedures designed lo minimise any potential itnpact on the Charity should th088 risks m81erialize. The Board of Trustees is responsible for the management of Ihe risks faced by the Trust. Consideration ol such risks is made on an informal ongoing basis and controls to mitigate su¢h risks are reviewed on an ongoing informal basis. A review and assessrnent of these controls is undertak8n on an annual basis. Through th8 above, the Trustees a satisfied that major risks Identified are subsequenuy mitigat8d where necessary. It is recognised that systems only provide ieasonable but not absolute assuranc& that major risks have been adequately managed. The activities of the Charity are dependent on ils abilily lo raise funds from donations and other lending. The key risk for 2025 Ihergfore is the Charitys ability lo secure ongoing funding to 5UPPOrt the repayrnenl of bank loans that were used for the purpose of building the ternple to date. The Trustees consider this risk lo be low as its donors are diverse and very supportive. The charitable expenditure is largely discretionary and can be reduced to mitigate a substantial reduction in incorne. Structure, governance and manag•mont The Trust is a company limit8d by guarantee. None of the Trustees h8d any beneficial interest in the company during the year. The Hindu T8mil Cultural Association (Enfieldl was incorporated on 4th February 2011. It is registered as a ¢h8rity with the Charity Commission. Th8 Trust is a Registered Charity under the Laws of England and Wales, which is overseen by the Charity Commission. The Trustees arg responsible for the activities of the Trust and the day to day management. There are currently eight metnbers each giving a guarantee to contribute a sum, not exceeding £1, to the company should il be wound up. The governing document is the Articles ofAs50ciation. The Trustees. who are also the directors for the purpose ol company law, and who served during the y8ar an(5 up to the date ol signature ol the financial statements were.. Mr Thampippillai Manmalharajah Mr Navar8tnarn Shantnuganathan Mr Ponniah Kailayapalhivagan Mr Sundaratnpillai Sivachandran MrAnthonipillai Kantharuban Mr Kanagasabapathy Mathi500dy Mr Kabilan Ganeshamoorthy Mr Jeevah Haran
HINDU TAMIL CULTURAL ASSOCIATION {ENFIELD) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEJWBER 2024 Appolntmei)t of Triistees The appointment of Truslees is governed by the Ariicles ol Assoclalion. The numb8r ol Trustees must consist ol al least slx members. The elecllon ol ofFic8 bearers shall be carrled oul by 11)8 members in a meeting by the Trustees in December. All the members of Iho execu11ve commillee 8hslS be elected by the Tnjslees al this Ineeting. The by-eleclion of a member of the cornmiltee af the Trust Sn place of th9 one who expires or is beillg dlsqualilied or olherwise ¢@ase to be a membor ol the commiltge shall be held by Ilie Trustee5 and the remaining members of the Trust shall use Iheir best discrelion In adapling tho provlslons for such by electlon. Organisational striEoture and declslon mak5ng Each Trustee ha5 assumed responsiblllly for monitoring actlvilles in specllic operallonal areas and chalrlng groups eonslsling of staff 8nd voluntg8rs. The Trustees rèport the activities of these oper81ional areas to the Board ol Trustees. All Tiuslee& give their lime voluntarily and receive no benefits from the Charity. Declsion making dutles are carried out by the executive Gommitleo whi¢h shall be elected by the Trustees Ih8ir monthly meeting. Other ad-hoc ded51ons are t8ken by Ihe Exgculiv6 comrnltlee members ITI"usleesl wllh executive posilions. Induction and Iralning of new Trustees As part of their induction program, new Trustees are made aware ol their re5ponslbllltles. This includes an introduclion lo Ihe obje¢tives, scope and policies ol the Chaiity, Ihe Charily Commission information on Trustees, re8ponslbilities and a copy of the Constitution. Addilional trainlng is avallable lo keep up with all n8w re£Julalions concernlng Ihg Charlty's activities. R8muneration pollcy for key managernent personnel The key manag8rnenl personnel of the Charily are the Trustees, who are nol remuneraled. Audltor Moore NHC Audit L1mSted were regppolnted as the ¢harltable company's 8uditors during the year. A resolution will be proposed at the Annual Goneral Meeting that Dr Kalhlravellupillai SIv8slnmyananthan will be aulhorised lo 8ngage auditors for the Charity for thè ensuing year. Dls¢losurè of Informatlon to auditor Each of Ihe Trust985 has conllrmed Ih8t there Is no Informatlon ol which they are aware whl¢h Is r618vant lo the audlt, but ol which the audllor is unaware. They hav8 furth8r confirmed that they have tal(en approprlate slops lo Id9ntify such relavant Inlormatlon and to establlsh that the audllor is aware ol such information. The Trustees, report was approved by the Board ol Trusl898. Mr Thampippillai Manmatharajah Truste8 Date..
HINDU TAMIL CULTURALASSOCIATION (ENFIELD) STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEIVIBER 2024 The Trustees. who are also the directors of Hindu Tamil Cultural Association (Enfieldl lor the purpose ol company law, are responsible for preparing the Trustees, Report and the financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pra¢ticel. Company law iequires Ihe Trustees lo prepare financial Statements lor each financial year which give a true and lair view ol the stale ol affairs of the Charity and of the incoming resources and application of resources, including the incotne and expenditure. of the charitable company lor that year. In preparing these financial statements, the Trustegs are required to.. select suitable accounting policies and then apply thetn con5i5tenlly'. observ8 the rnethods and principles in the Charities SORP., ake judgements and estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subj8Ct to any tnaterial depariUs disclosed and explained in the financial stalemenls., and prepare the financial slatements on the going concern basis unless it is inappropriate to presume that the Ch8rily will conlinug in operation. The Trustees are responsible for ke8ping adequate accounting records Ihal disclose with reasonable aceuracy at any time the financial position of the Charity and enable them to ensure that the finanal statements comply with the Companies Act 2006, They are also spOnsible for safeguarding the asset5 of the Charity and hen for taking reasonable steps for the prevention and dele¢lion of fraud and other irregularities.
HINDU TAMIL CULTURAL ASSOCIATION (ENFIELD) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF HINDU TAMIL CULTURAL ASSOCIATION (ENFIELDI Oprnion Wo have audited the financial statements of Hindu Tatnil Cultural Association (Enlieldl (the 'Chaiily'l for IhE year ended 31 December 2024 which cornprise the 5talernent of firiancial activitie5. the balance sheet, the statement ol cash flows and the noles to the financial statemenls, including a summary ol significant accounting policies. The financial reporiing framework that has been applied in their preparalion is applicable law and Unit8d Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financi81 R8POrting Slanrl&rtl applicab18 IJJ Ihe UK and R8public of Irfjland Iunitgd Kingdom Gen&rally ACpted Accounting Praclicel. In our opinion. the financial 5taternenls'. give a true and fair view ol the slate of the charitabl& cornpany's affairs as at 31 December 2024 alld of ils inoorning resources and application of resoLJrces, including it5 incotne and expenditure, lor the year then ended., have been properly prepared in a¢cordance with Unit8d Kingdom G8n8rally Accepted Accounting Practice.. and have been prepared in accordance with the requirements of the Cornpanies 20(. Basis for opinion We conducted our audit in accordarice with International Standards on Auditing IUKI IISAS IUKII and appli¢able law. Our SponSibl11t1eS under those standards are further described in the Auditors responsibilities for lh8 audit of Ihe financial slal&menls se¢lion of our report, W& arg indep8nd8nl of the Ch8rity in accordance with the ethical requirements that are relevant to our audit ol the financial statement5 In the UK, including the FRC'S Ethical standard, and we have fulfilled our othei ethical re5ponsibililies in accordance with these requirements. We believe that the audit eviden we have obtained is sufficient and appropriate to provide a basis lor our opinion. ConclusSons relating to going ¢on¢ern In auditing the financial Statements, we have concluded that the Trustees, use of the going concern basis ol aceounling in Ihe preparation ol the financial statements is appropriate. Based on the work we havo pgrformed, we have not identified any rnaterial UnrtaIntieS relaling to event5 or conditiolls that. individually or collectively. may cast 5ignifieant doubt on the Charity's ability lo continue as a going concern lor a period of at least twelve months from when the linanual statements a aulhorised lor issue. Our responsibilities and the responsibilities of the Trustees with respect to going con¢em ar8 d8scribed in th8 relevant sections ol this report. other information The other information ¢ornprises the information included in the annual report other than the financial 5taternents and our auditorfs report thereon. The Tiustee5 are responsible lor the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, exp1 lo the extent otheTwise explicitly staled in our report, we do not express any form ol assurance conclusion Ihereon. Our responsibilily is to read the other inlorrnation and, in doing so, consid8r wheth8r th8 olh8r infortnation 15 rnaterially inconsistent with the financial stalelnents or our know18dge obtained in the course of the audit, or otherwise appeals to be fflaterially misstated. If we identify such material inconsistencies or apparent material misslalements, we are required to determine whether this gives rise lo a material rnisslalement in Ihe financial staternents themselves. 11, based on the woik we have performed, we conclude that there is a material rnisslatement ol this other information. we are required lo report that f8cl. We have nothing to report in thls regard. Oplnlons on other matters prescribed by the Companies Act 2006 In our opinion, b85ed on the work undertaken in the course of our audit.. the information given in the Trustees. repDrt for the financial year for which the financial statement5 are prep8red, which includes the director5. report prepared lor the purposes of company law, is consistent with the rinallcial staternenls,. and the directors, r8port included within the Trustee5' report has been prepared in accordance with applieable legal requirements.
HINDU TAIVIIL CULTURAL ASSOCIATION (ENFIELD) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF HINDU TAMIL CULTURAL ASSOCIATION {ENFIELD) Matt8rs on whlch we are required to r8POrt by exceptlon In the light of the knowledge and underslanding of Ihe Chaiity and its environment obtained in tho couise of the audit, we have not identified material misstatements in the directors. Teport included wilhin the Trust88s' report. We have nothing to report in resped of the following matters in relation to which th8 Companies Acl 2006 requires U5 to report to you il, in our opinion.. ad6quate accounting records have not been kept. or returns adequate for our audit have not been received frorn blanches not visited by us., or the financial staletnenls are not in agreement with Ihe accounting reeords and retums,. or rtain disclosuS ol Trustges, remuneration specified by law are not rnad8'. or we have nol received all the inlorrration and explanations we require lor our audit., or the Trustees were nol entitled to prepare the finan¢ial slalements in accordance with the small companies regime and take advantage ol the small (x)rnpanies' exemptions in preparing the Trustees. report and Irorn the requirement to prepa a strategic report. Responsibilities of Trustees As gxplained More fully in the slalement ol Trustee5' responsibilities, the Trustees, who ar8 also the director5 01 the Charity for the purpose ol company law, are re5pon5ible for the preparation ol the financial slat8ment5 arid for being Satisfied that they give a true and fair view, and lor such internal control as the Trustees determine is necessary lo enable the preparation of fin8ncial statements that are free from material mi5Stalement, whether due to fraud or error. ln preparing th8 financial statements, the Trustees are responsible for assessing the Charity's ability to conlinug as a going concern, disclosin9, as applicable, tnatters related lo going conrn and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable oompany or to ase operations, or have no realistlc alternative but lo do so. Audltor's responsibilities for th8 audit of the financial slatements Our objectives are lo obtain reasonable assurance about whether the financial statgments as a whole are free from aterial misstatement, wh8ther due lo fraud or error, and to issue an auditOf'5 report that includes our opinion. Reasonable assuran is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatem8nt when it exists. Misstatements can arisg from fraud or error and are considered material if, individually 01 in the aggregate, they could reasonably be expected lo inlluenee th8 econornic decisions ol users taken on the basis of these financial slalemgnts. The extent to which our proc8dure5 are capable ol detecting irregul8riti8s, including fraud, Is detailed below.
HINDU TAMIL CULTURAL ASSOCIATION (ENFIELD) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF HINDU TAMIL CULTURAL ASSOCIATION (ENFIELDI Explanation as to what extent the audit wa5 considered capabl• of detectlng Irregularltles, including fraud The objectives of our audit ill respect ol fraud, are,. to identify and assess the risks of rnateri81 tnisstatetnenl ol the financial slatemerits due to Iiaud," lo obtain sufficienl appropriate audit evidence regarding the assessed iisks of rnaterial rnis5taternent due to fraud, through designing and implementing appropriate responses to those assessed iisks,. and to Spond appropriately lo instances ol fraud or 5U5pected fraud identified during the audit. However, the primary responsibility for the prev8nlion and detection ol fraud rests with both management and thosg charged with governance of the company. Our approach was as follows.. We obtained an understanding of the legal and iegulatory requirements applicable lo the company and considered that the m05t significant are the Companies Act 2006, International Finan¢i81 Reporting st8nd8rd5 as adopted by the UK, and UK laxalion legislation. We oblained an understanding ol how the cornpany complies with these requirements by discussions with rnanagement and those charged with gov8rn8nca. We assess8d the risk of rnaterial misstatement ol the financial slalements, including the risk ol rnaterial misstatgment due lo fiaud and how it might occur. by holding discussions with managetnent and those charged with governance. We inquid ol management and those charged with governance as to any known instances of non- compliance or suspected non-compliance with laws and regulations. Basod on this understanding, we designed spe¢ifi¢ appropriate audit procedures to identify instances of non- compliance with laws and regulations. This included tnaking enquiries of management and those charged with governance and obtaining additional corroboiative evidence a5 required A further description of our responsibilities is available on the Financial Reporting Coun¢il'8 website at.. https'./l WWW.f.O.uk1audltorSresw1ns1bllitles. This description lorms part of OLJr auditor'5 report. Use of our report This report is made solely lo the charitable cotnpany's rnembers, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, Our audit work has been undertaken so that we might state to the ¢haritable compally, members those fflalt8rs we ale required to slate lo them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume r8sponsibility to anyon8 Other than the charitable company and the charitable com y's members as 8 body, for our audit woik, for this report, or for the opinions we have formed. Francis Corb. Sonior Statutory Auditor) For and on b all of Moore NHC Audit Limited, Statutory Auditor Chartered Accountants 73-75 High Street Stevenage Hertfordshire SG1 3HR
HINDU TAMIL CULTURAL ASSOCIATION (ENFIELD) STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Reslricled funds funds 2023 2023 Total 2024 2023 Notes Income frorn.. Donations and legacies Charitable activities Other trading activilies Investments 460,893 457,024 207,251 82,700 39,655 500.548 457,024 207,251 82.700 665,805 261,623 101,015 75,728 47,744 713,549 261.623 101,015 75,728 Total income 1,207,868 39,655 1,247,523 1.104,171 47,744 1,151,915 Ex enditure on: Charitable activities other expenditure 1,021,392 1,021,392 48,188 926,789 926,789 45,109 10 48.188 45,109 Total gxpanditurè 1,021,392 48.188 1,069,580 926,789 45,109 971.898 Net Incomellexpenditur81 for the yearl Nèt movement In funds 186,476 18.5331 177,943 177,382 2,635 160.017 Fund balances al 1 January 2024 3,413,746 54.828 3,468,574 3,236,364 52,193 3,288.557 Fund balanc85 at 31 Doc•mber 2024 3,600,222 46.295 3,646.517 3,413,746 54,828 3,468.574 The statement of financial activities indude5 811 gains and losses recognised in the year. The statement c)f financi81 activities indudes all gains and losses recognisod in the year. All income and expenditure deriv& from continuing activities. The statement of financial activities also cornplies with the requirements for an inwme and expenditure account under the Companies Act 2006.
HINDU TAMIL CULTURALASSOCIATION (ENFIELD) BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Ntstes Fixed assets Tangible assets Inveslmenl prop&rtias 13 14 3,008,888 2,af95,996 3,033,567 2,595.992 5,604,884 5,629,559 Curient assets Debtor5 Cash al bank and In hand 15 14,267 2,949 13.167 14.943 17.216 28,110 Credltors.. amounts falling du8 wlthln one year 1392,7111 1381,0781 1375,4951 1352,9681 Total assets le58 Gurrent liabllltles 5,229,389 5,276,591 Creditors.. amounts falllng due after more 1Trsan one year 17 11.582.872) 11,808,017) Net as$el$ 3.646,517 3,468,574 Income funds Reslrlcled funds Unrestricted funds 21 46.2g5 3.600,222 54,828 3,413,746 3.646,517 3,468,574 Th8sB financial slalemenls have been pr8par8d in accord8nce wlth the provlslons appllcable lo companles suble¢l lo the 5rn8ll companies regime. The flnandal statements w8re appYov8d by the Trustees on T,Io.Èo£ Mr Thamplpplllal Manmatharalah Trusteo Company Reglstratlon No. 07517633 10
HINDU TAMIL CULTURALASSOCIATION (ENFIELD) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations 22 173,998 195,354 Inv05ting actlvltles Pvrcha5e of tangible fixed assets Purchase ol inveslrngnt property Inve5trnent income received 143,9691 131,7621 184,6991 75,728 82,700 Nat cash generated fromllused inl investing actlvltSes 38,731 140,7331 Flnancing activities Repayment of bank loans 1224.7231 1205,1551 Net cash used in finan¢ing activities 1224,7231 1205,1551 Nel decrease in cash and cash aquivalents 111.9941 150.5341 Cash and cash equivalents at beginning of year 14.943 65,477 Cash and cash equlvalents at end of year 2.949 14,943
HINDU TAMIL CULTURALASSOCIATION (ENFIELD) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEIWBER 2024 Accounting pollcles Charity information Hindu Tamil Cultural Association (Enfieldl is a private company limited by guarantee incorporated in England and Wale5. The regiSted office is 61-65 Church Lane, Edmonlon, London, N9 9PZ. 1.1 Accountlng Convention The financial statements have been prepared in accordance with the Charity's Mernorandum and Articles ol Association, the Companies Act 2006 and Accounting and Reporting by Chaiities." Statement ol Recommended Practice applicable to charities preparing th6ir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iieland IFRS 1021 (effective 1 January 20191" The Charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepar8d in sterling. which is the functional rrencY of the Charity. Monetary arnounts in these financial stat8rnenls are rounded to the nearest £, The financial statements have been prepar8d und8r th8 historical c05t convenlion, Imodilied to include th8 revaluation of freehold properties and lo includ8 inv8slment properties and rtain financial instrum8nts at fair valLJel. The principal accounting policies adopled are set out below. 1.2 Going concern At the lime of approving the financial st8t8m8nts, the Trustees have a reasonable expectation thal the Charity has adequate resources to continue in operalic)nal existence for the foresgeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financi81 staternernls. 1.3 ChaTltabl• funds Unreslrioted funds are donations and other in¢om9 received or generated for the charitable purposes. Thes8 funds are available for use towards m88ting the objectives of the Charity. Restricted fund5 a to be used lor specih'c purposes as lald down by the donor. Expenditur8 which meets thes8 criteria is charged to the lund. 1.4 Incorne Income from donations and grants, Including capital grants, is included when these are receivable, except as follows.. When donors specify that donations and grants givgn io the Chaiily must be used in futur8 accounting periods, the income is def&rr6d until those periods. When donors impose conditions, which have to be lullilled before the Charity become5 entitled to usè such income, the income is deferred until the preconditions lor use have b88n rnet. When donors specify Ihat donations and grants, in¢luding capital grants, ale for restricted purposes, which do not amount to pre-conditions warding 8ntitlernent, this income is included in $trICted funds when receivable. Gifts in kind are valued by the arnounl stated on the receipt if provid8d by the d()nor. Where no receipt is available, the items are valued by multiplying the weight with the prevailing price on the respective preciou5 metal or commodity exchange in London at the respective wholesale price of each, plus a fixed value lor labour per gram. Where lax has been deduc18d at Source, income is grossed up where a ciaim fc>r the tax repayment has been Made. Thg tax recoverable is shown as a debtor In¢om8 from investments is included in the Staternellt of Finanaal Activities in the period it is receivable and deferred or accrued accordingly. 12
HINDU TAMIL CULTURAL ASSOCIATION (ENFIELD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting pollcles Iconlinuedl 1.5 Expenditure The policy for ineluding items within tho relevant activity categories of expenditure is that expenditure is charged to Ihe Slalement of Financial Activitie5 on an accruals basis. inclusive ol VAT which cannot be recovered and is classified as follow5-. Costs of generatlng funds The costs of generating funds comprise the costs associated with allracling voluntary incom8. Charltable actlvllies A¢livilies in furth8rance of the Charity's obleclives and aims. Charitable expenditure comprises Ihose costs incurred by th& Charity in the delivery ol it5 activities and services for its beneliciaries.11 includes both costs that can be allocated directly lo sueh aclivilies and those costs ol an indire¢l nature to support thern. Governance costs shall include all expellditure directly related to the adminislralion ol the Charity including expenditure incurred in the management of the Charity's assets, organisatiollal administration and cotnpliance with charitable and slalutory requirernents. Allocation of cosls within types of exp8nditura The methods and principles lor the allocation and apportionment of all costs betse8n th8 different aetwily catggories of resources set out above are.. All expenditure 15 accounted lor on an accruals basis and h85 been included under expense categories that aggregate all costs for allocation to activities. Where c05t5 callnot be directly attributed lo particular activities they have been allocated on a basis con51slenl with the use of the resources. 1.6 Tangtb18 fixed as5et5 Tangible fixed assets arg initially tneasured at cost and subsequently measured al Cost or valuation. net of depreciation and any impairtnerit losses. Depreciation is reoognised 50 85 to write off the cost or valuation ol assets less th8ir r88idu81 values over their useful liv85 on the following bases.. Temple buildings Computers Equipment Motor vehicles 2% straighl line 250/0 Straight line 20°/o Straight lin& 25% straight line The gain or loss arising on the disposal ol an asset is determined as the differen between the $819 proceeds and th8 carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Investment properties Investment properties a included in the Balance sheet at their fair value in accordan with Financial Reporting Standard 102 and arg not depreciated. Gains are recognised in the statement ol financial activities. 1.8 Impairment of flxed assets At each reporting end date, the Charity rgviews the carrying amounts ol its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount ol the asset 15 estimated in order to delerrnine the extent ol the irrpairmgnt loss lif any). 1.9 Cash and cash equlvalenls Cash and cash equivalents includ8 cash in hand, deposit5 held at Call with banks, other short-term liquid inveslments with original maluritie5 of three tnonths or less. and bank overdrafts. Bank overdrafts are shown within borrowings in currenl liabilities. 13-
HINDU TAMIL CULTURAL ASSOCIATION {ENFIELD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 AccountSng policies Icontsnuedl 1.10 Taxalion The company has been confirmed to be exempl from Corporation Tax, as hawng charitable status, upon any surpluses arising frotll 15 activities as long as those Surpluses are held for the purpose of the company's objects. All the activitles are outside th8 scope of VAT and input tax on purchase5 15 not recoverable and therefore 15 chaiged against the calegoiy ol expenditure for which it wa5 incuried. 1.11 Credltors and provi8ion5 Credilois and provisions are recogni5ed where the Charity has a present obligation resulting frorn a past gvent that will probably result in the transfer ol funds lo a third party and the amount due to 5elt1e the obligation can be measured or eslimaled reliably. Creditor and provisions are normally recognlzed at their settlement amount after allowing lor any trad8 discounts due. Th8 Chaiity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are InitallY recognised al transition value and subsequently measured at their settlement value with the exception ol bank loans, which are subsequently measured at amortised cost using the effective int8rest rnethod. 1.12 Government grants Government grants are recognised at th8 fair value ol the asset received or receivable when there is reasonable assurance that the grant ¢ondition5 will be met and the grants will be received. Government grants relating to turnover are recognised as income over the periods when the relat8d costs are incurred. Income from donations and legacles Unrestricted R8Stricted funds funds 2024 2024 Totsl Unrestrict8d Reslrlcted fund5 funds 2023 2023 Total 2024 2023 Till collection G8neral donation rec&ived General donation receiv8d Ichildren's welfare- restricted) Government grants Building fund donations- slricled 48,292 48,292 56,466 56,466 346,765 346,765 609,339 609,339 23,493 23,493 63,836 26,468 26,468 65,836 16,162 16,162 21,276 21,276 460.893 39,655 500.548 665,805 47,744 713.549 14-
HINDU TAMIL CULTURAL ASSOCIATION (ENFIELD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from charitable a¢livilie8 Unrestrlcted Unrestrlcted funds funds 2024 2023 Abisekam & Archanai Contribution 457,024 261,623 Income from other trading activltles Unrestrlcted Unre$lrl¢led funds funds 2024 2023 Miscellaneous income 207,251 101,015 Income from invèstments Unrestricted Unr85trict8d funds funds 2024 2023 Rental inoorne 82.700 75,728 15
HINDU TAMIL CULTURALASSOCIATION (ENFIELD) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expendlture on charitsble activities Unrestricted Unrestricted fund5 funds 2024 2023 staff cosls Depreciation arid impairment AnnoUnmentS and adverts Abisekam and related expenses Water rates General rates Premises insurance Light and heal 187,674 68,647 3,900 367,062 4,593 7,262 10,444 48,269 159,942 63,197 5,081 303.081 5,428 8,994 9,711 53,825 F 11 Prillling, stationery and postage Telephone Computer supplies Repairs and ienewals Cleaning Security and alarm Office expenses Wedding expenditure Festival expenditure 4,986 3,617 2,826 3,155 11,875 5,226 10,166 33,653 124,642 6,256 2,320 1,680 2,497 10,392 5,546 6,001 23.117 123,694 897,997 7,762 Share of governance costs15ee note 81 123,395 136,027 1,021,392 926,789 Net movement in fund5 2024 2023 The net rnovement in funds is stated after ¢hargingllcreditingl'. Fees payable lor the audit of the charity's financial slalements Depreciation of owned tangible fixed assets 7,700 68,647 7,768 63,201 16
HINDU TAMIL CULTURAL ASSOCIATION (ENFIELD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Support and governance cost5 Support Governanc8 costs costs Total 2024 Support Governance Costs costs Total 2023 Audit and accountancy fee5 Professional legs Bank charges Bank loan interest 7.700 3,266 11,515 100,914 7,700 3,266 11,515 100,914 7,768 3.279 12,165 112.815 7,768 3,279 12,165 112,815 123,395 123,395 136,027 136,027 Allocated to.. Charitable actiwtie5 123,395 123,395 136,027 136,027 Goverllance costs includes payments lo th8 auditors of £7.70012023- £7.7681 for audit fees. Trustees None of the Trust8es lor any persons connected with thernl received any remuneration or b8nefits from the Charity during th8 year. 10 Other exp8nditure Restrlcted Reslrlcted funds funds 2024 2023 General donations- Asia General donations- UK 34,260 13,928 32,028 13,081 48,188 45,109 17
HINDU TAniiiL CULTURAL ASSOCIATION (ENFIELD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 Employees Number of employees The average monthly number of employees during the year was.. 2024 Number 2023 Numb8r Priests Adtninistration 12 Employment costs 2024 2023 Wages and salaries Social $8curity costs 179.780 7,894 158,214 1.728 187,674 159,942 Th8r8 were no employees whose annual remuneration was £60,000 or more. 12 Taxatlon The charity IS 8xempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxatitsn of Chargeab18 Gains Act 1992 to the extent that these are applied to ils charitable objeds. 13 Tangible fixed assets Temple bu11dlngs Computers Motor vehlcles Jgwellery TotAI ost Al 1 January 2024 Additions 2,910,973 64,369 23,969 4,920 451,059 3,431,321 20,000 43,969 At 31 Dec8mbgr 2024 2,910,973 88,338 4,920 471,059 3.475,290 Depreclatlon and impairn18nt Al 1 January 2024 Depreciation charged in the year 346,717 58,219 46,118 10,428 4,920 397.755 68.647 Al 31 December 2024 404,936 56,546 4,920 466.402 Carrying amount Al 31 December 2024 2,506,037 31,792 471.059 3,008.888 At 31 December 2023 2,564.257 18,251 451.059 3,033.$67 18
HINDU TAniEIL CULTURAL ASSOCIATION (ENFIELD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Investment property 2024 Fair value At 1 January 2024 and 31 December 2024 2,595,996 15 Debtors 2024 2023 Amounts falling due within one y8ar'. Other debtors Prepayments and accrued income 13,393 874 12,293 874 14,267 13,167 16 Creditors= amount5 falling due Wlthin one y•ar 2024 2023 Notes Secured loan Other taxation and social security Other oreditors Accruals and deferred income 18 315,403 1,081 65,613 10,614 314.981 5,293 50.190 10,614 392,711 381,078 17 Credltors: amounts falling due after more than one year 2024 2023 Notes Secured loan 18 1,582,872 1,808,017 18 Loan5 and ovgrdrafts 2024 2023 Secured loan 1,898,275 2.122,998 P8yable within one year Payable after one year 315,403 1,582,872 314,981 1,808,017 The loans are secured against th8 properties owned by the Charity. 19
HINDU TAMIL CULTURAL ASSOCIATION {ENFIELD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 19 Unrestricted funds The unrestricted funds of Ihg Charity comprise the unexpended balance5 of donations and gr8nls which are not Subject to Specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricled funds by the trustees lor specific purposes. At l January 2024 Incoming r850urce$ Resources expended At31 December 2024 G8n&ral funds 3,413,746 1.207.868 11,021,392) 3,600,222 Previous year: At 1 January 2023 Incoming r850urc8S Resources expended At31 December 2023 General funds 3,236,364 1,104,171 1926.7891 3,413,746 20 Analysls of nèt assets betweon funds Unrestrlctod funds 2024 Restricted funds 2024 Total 2024 Al 31 December 2024.. Tangible assets Investment prop8rt188 Current assetsllliabililiesl Long term liabilities 3,008,888 2,595,996 1421,7901 11,582,872) 3,008.888 2.595,996 1375,4951 11.582,8721 46,295 3,600,222 46,295 3,646,517 UrTr85tricted funds 2023 Restricted funds 2023 Total 2023 At 31 December 2023: Tangible as5els Investm8nt prop8rti8s 3,033,567 2,595,992 1407.7961 11,808,017) 3,033,567 2,595,992 1352,9681 11,808,017) 54,828 Long term Ilabilltles 3,413,746 54,828 3,468.574 -20-
HINDU TAIVIIL CULTURAL ASSOCIATION (ENFIELD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEIWBER 2024 21 Rest¥lcted funds The income funds ol the Chaiity include r8Stri¢led funds comprising the following unexpended balances of donations and grants held on trust for specific purposes.. At 1 January 2024 Incomlng resoLtrces R850urces expended At31 Decernber 2024 Children's homes 54,828 39,655 148,1881 46,295 Prevlous ygar.. At 1 January 2023 Incoming resources Resourcas expended At31 Deeernber 2023 Childn,$ homes 52,193 47,744 145,1091 54,828 Children's homes Th8 children's homes fund represents donations that have been received specifically for children's homes in Sri Lanka. 22 Cash gonarated from operations 2024 2023 Surplus for the year 177,943 180,017 Adjustments for.. Investment income recognised in statement of financial ac(ivilie5 Foreign exchange dIfferenS Depreciation and impairment of tangible fixed assets 182.7001 121 68,647 175,7281 63,197 Movements in worklng capital.. Ilncreaseydecrease in d8btors Increase in creditors 11,1001 11,210 544 27,321 Cash gan•rat8d from operations 173.998 195,354 21
HINDU TAMIL CULTURAL ASSOCIATION (ENFIELD) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 23 Analysi5 of chang05 in nat Idebtllfund5 At l January 2024 Cash flow5 At 31 December 2D24 Cash at bank and in hand 14,943 111,9941 2,949 Loans falling due within one year Loans falling due after more than one year 1314,9811 11,808,017) 14221 225,145 1315,4031 11,582,872) 12,108.0551 212,729 11,895,326) -22-