Companies Reg Number : 05374807 ( England & Wales ) Charity Number : 1166332
THE SIVA TRUST LTD
(A COMPANY LIMITED BY GURANTEE )
Unaudited
TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2024
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THE SIVA TRUST LTD
(A COMPANY LIMITED BY GURANTEE )
INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2024
| Page | ||
|---|---|---|
| Company Information | 3 | |
| Report of the TRUSTEES | 4 - 7 | |
| Independent examiner`s Report | 8 | |
| Statement of financial activities | 9 | |
| Balance Sheet | 10 | |
| Notes to the Financial Statements | 11 - 14 |
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THE SIVA TRUST LTD (A COMPANY LIMITED BY GURANTEE )
CHARITY GENERAL INFORMATION FOR THE YEAR ENDED 28TH FEBRUARY 2024
TRUSTEE/DIRECTOR - President 1 Mr. RatnaJothy Mahesan TRUSTEE / DIRECTOR 2 Mr.Sri Krishna Ratnasinkam TRUSTEE / DIRECTOR 4 Mr. Kathiravetpillai Jeyaratnam TRUSTEE / DIRECTOR 5 Mr Arumugam Athavan 6 Ms Niranjanamala Ravindra
SECRETARY:
7 Mr Kathiravetpillai Jeyaratnam
COMPANY REGISTRED NUMBER 5374807 ( England & Wales ) CHARITY REGISTRED NUMBER 1166331 REGISTERED OFFICE: Unit 1B Stephenson Way Three Bridges Crawley West Sussex RH10 1TN ACCOUNTANTS: Xavier, Xavier & Co Institute of Financial Accountant 4 The Boulevard Crawley West Sussex RH10 1XX BANKERS : HSBC The Boulevard Crawley RH10 8HD
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THE SIVA TRUST LTD (A COMPANY LIMITED BY GURANTEE )
FOR THE YEAR ENDED 28TH FEBRUARY 2024
TRUSTEES ANNUAL REPORT
Report of the trustees for the year ended 28TH FEBRUARY 2024
The trustees present their annual report and financial statements of the charity for the year ended 28TH February 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16/07/ 2014
TRUSTEES INDUCTION AND TRAINING
A): GOVERNING DOCUMENTS & CONSTITUTATION
A) GOVERNING DOCUMENT
The Siva Trust Limited is governed by Memorandum of Articles.
B)APPOINTMENT OF TRUSTEES
Under the Memorandum of Articles, the Trustees can serve for maximum Three consecutive years and they are eligible to stand for further years subject to meet the condition in Memorandum of Articles.:
Trustees will be elected by public meeting and have to be a member for at least One Year. To become a member, applicant has to make annual donation of minimum One hundred and twenty pounds and should submit his/her CRB Report and Credit Check Report.
Public meeting was held on 28th November 2023 unfortunately no members met the above criteria for election and it was decided that present trustees will continue for another year Next public meeting to be held on 01ST APRIL 2024
C) MAIN OBJECTIVES&ACTIVITIES
Daily rituals prayers Annual Festivals Communal gathering for all ethnic groups Promoting classical music classes Caring and activities for elderly citizens. Caring and activities for senior citizen
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E)RESERVE POLICY
This Charitable Organization which funding based on public donation/contribution and 15 volunteer who pledged to contribute £1000.00 each every year.
In the event of any unlikely The Siva Trust Ltd has enough money in the bank to see through at least 3 months.
F) PRINCIPAL FUND RAISING
Main form of fund collection is weekly collection and non regular members reasonable contribution for annual festival which usually raises £12,000.00 each year
G) RISK MANAGEMENT
The following members are actively involved in day-to-day running of business of The Siva Trust Ltd Ms Niranjanamala Ravindra Treasure Mr. Jothy Mahesan - President Mr. Kathiravetpillai Jeyaratnam - Secretary
The Siva Trust Ltd has developed a risk management which involves:
a) Monthly and annual review of the performance and finance.
the trustees ensure the the charity has enough fund in the bank to cover at least 3months of expenditures b) The development of systems and procedures to minimize the risks (i.e finance ,health & safety) and future fund raising . The Trustees always work very closely and adopt a policy which includes emergency and contingency plan to minimize the impact of funding shortfall.
President, Treasurer and Secretary are together monitor the expenses are controlled.
RESTRICTED FUND
The restricted funding is been collected and kept in a separate bank for the purpose of purchasing the building in the future .
Trustees responsibilities in relation to the Financial statements
The charity trustees are responsible for preparing a trustees annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of affairs of the charity and of the incoming
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THE SIVA TRUST LTD
(A COMPANY LIMITED BY GURANTEE )
TRUSTEES ANNUAL REPORT
FOR THE YEAR ENDED 28TH FEBRUARY 2024
resources and application of resources, of the charity for that period. In preparing the financial statements , the trustees are required to :-
select suitable accounting policies and then apply them accordingly observe the methods and principles in the applicable Charities Standard Operating Procedures make judgements and estimates that are reasonable and prudent state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assists of the Charity and taking responsible steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the charity and financial information
Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdiction.
The Trustees declare that they have approved the trustees report as above on and Signed on behalf the Charity's trustees by:-
and outgoing .
Accountants
A resolution to reappoint Xavier, Xavier & Co as Accountants will be put to the trustees at the Annual General Meeting .
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THE SIVA TRUST LTD
(A COMPANY LIMITED BY GURANTEE )
TRUSTEES ANNUAL REPORT
FOR THE YEAR ENDED 28TH FEBRUARY 2024
Trustees’ responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to :
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The Trustees declare that they have approved the trustees report as above on and Signed on behalf of the charity`s trustees by
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Mr. RatnaJothy Mahesan Mr.Sri Krishna Ratnasinkam
28/04/2024 28/04/2024
Mr. Kathiravetpillai Jeyaratnam Mr Arumugam Athavan Ms Niranjanamala Ravindra
28/04/2024 28/04/2024 28/04/2024
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REPORT OF INDEPENDENT EXAMINERS STATEMENT TO THE TRUSTEES OF THE SIVA TRUST LTD
(A COMPANY LIMITED BY GURANTEE )
FOR THE YEAR ENDED 28TH FEBRUARY 2024
As described on the trusties responsibility you are responsible for the preparation of the financial for the year ended 28th February 2023 set out on pages three to eight and you consider that the Charity is exempt from an audit under section 43 (2) of the Charities Act 1993 , that an independent examination is needed It is my responsibility to
Examine the accounts under section 43 of the act
To follow the procedures laid down in general Directions given by the Charity commission under section 43(7)(b) of the act and
To state whether particular matters have to come to my attention
My examination was carried out in accordance with general Directions given by the Charity commission . An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records . It also includes consideration of any unusual items or disclosure in the accounts , and seeking explanation from you as trustees concerning any such matters. The procedures under taken do not provide all the evidence that would be required in an audit , and consequently no opinion is given as to whether the accounts present a true and fair view and the report is limited to those matters set out in the statement below .
In the course of my examination , no matter has come to my attention which gives me reasonable cause to believe that in , any material respect, the requirement:
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1 ) - To keep accounting records in accordance with section 41 of the act : and
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2) - To prepare accounts which accord with the accounting recorded and comply with the accounting requirements of the 1993 Act; have not been met ; or to which in my opinion attention should be drawn in order to enable a proper understanding of the accounts to be reached .
MR S SUMAN XAVIER , XAVIER & CO INSTITUE OF FINANCIAL ACCOUNTANT 4 THE BOULEVARD CRAWLEY WEST SUSSEX RH10 1XX
Dated: 31ST MAY 2024
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THE SIVA TRUST LTD
(A COMPANY LIMITED BY GURANTEE ) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28TH FEBRUARY 2024
| Incoming resources Contribution & Donations Gift aid Donations Member contribution By Will TOTAL INCOME Cost of raising funds Operating Expenses Note 5 Total Resources Expended NET Incoming / Outgoing resources Transfers between funds Total fund Bought forward Total fund Carried forward |
2024 Unrestricted Restricted Endowment funds funds funds 115680 24,658 8,000 -- 140338 8000 0 113,699 - - 113,699 0 0 26,639 8,000 0 101,235 19752 127,874 27,752 |
TOTAL FUND 115,680 32,658 148,338 113,699 113,699 34,639 - 120,987 155,626 |
2023 TOTAL FUND 90,109 0 0 90,109 86,166 86,166 3,943 117044 120,987 |
|---|---|---|---|
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THE SIVA TRUST LTD (A COMPANY LIMITED BY GURANTEE ) BALANCE SHEET AS AT 28 TH FEBRUARY 2023
| Notes FIXED ASSETS: Intangible assets 6 Tangible assets 7 CURRENT ASSETS: Stock Debtors 8 Bank & Cash in hand CREDITORS:Amounts falling due within one year 9 NET CURRENT LIABILITIES: Less long-term lability 10 LIABILITIES: FUNDS Unrestricted Fund Restricted funds |
2024 £ 783 3,835 134,280 138,898 7,712 7,712 |
£ 3,398 51,918 55,316 131,186 30,876 155,626 127,874 27,752 155,626 |
2023 £ 867 3,835 102,592 107,294 6,913 6,913 |
£ 3,398 53,490 56,888 100,381 36,282 120,987 101,235 19,752 120,987 |
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THE SIVA TRUST LTD
(A COMPANY LIMITED BY GURANTEE )
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2024
1 BASIS OF PREPARATION
1.1 Basis of Accounting
The accounts (financial statements) have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16/07/14, the Financial Reporting Standard for Smaller Entities (FRSSE), and the Charities Act 2011 and applicable regulations.
The accounts have been prepared under the historical cost convention with items recognized at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
1.2 Change in Basis Of Accounting
There has been no changes to the Accounting policies since last year
1.3 Changes to Previous Accounts
No changes have been made to accounts for previous years
2 ACCOUNTING POLICIES
2.1 Incoming Resources
Income represents donations, subscriptions and class fees. These are included in the Statement of Financial Activities (Sofa) when:
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the charity becomes entitled to the resources;
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the trustees are virtually certain they will receive the resources; and
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the monetary value can be measured with sufficient reliability.
2.2 Contractual income and performance related grants
None
2.3 Resources Expended
Expenditure is recognized on an accrual basis as a liability is incurred. Expenditure includes VAT as the Charity is exempt from registering for VAT and therefore is reported as part of the expenditure to which it relates.
2.4 Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and Fittings - 10 % Straight line
States - 10 % Straight line Building is not depreciated
2.5 Deferred taxation
Provision is made at current rates for taxation deferred in respect of all material timing differences except to the extent to the extent that, in the opinion of the director, there is reasonable that the liability will not arise in the foreseeable future.
3 OPERATING SURPLUS / ( DEFECIT )
The operating surplus / ( deficit )is stated after charging:
| Depreciation - owned assets Trustees' emoluments |
2024 £ 1,572 - |
2023 £ 1,572 - |
|---|---|---|
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THE SIVA TRUST LTD
(A COMPANY LIMITED BY GURANTEE ) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2024
4 ANALYSIS OF INCOMING RESOURCES
| **5 ** | Incoming resources Contribution & Donations Gift aid Donations Member contribution By Will TOTAL INCOME RESOURCES EXPENDED Cost of Pooja Wages Subcontractor Print Stationary Telephone Rent & rates License & fees Light & heat Repairs & renewals Bulling Insurance Bank Loan Interest Bank Charges Depreciation |
2024 Unrestricted Restricted Endowment funds funds funds 115680 24658 8000 140338 8000 0 26,342.00 - 28,399.00 - 7,700.00 1,064.00 - 831.00 - 21,803.00 - 1,000.00 - 15,729.00 - 5,373.00 - 1,724.00 - 1,515.00 - 647.00 - 1,572.00 - 113,699 0 0 |
TOTAL FUND 115,680 24,658 8,000 148,338 26,342.00 28,399.00 7,700.00 1,064.00 831.00 21,803.00 1,000.00 15,729.00 5,373.00 1,724.00 1,515.00 647.00 1,572.00 113,699 |
2023 TOTAL FUND 90,109 0 90,109 23,100.00 24,726.00 30.00 589.00 20,377.00 300.00 8,997.00 2,012.00 1,847.00 1,515.00 329.00 2,344.00 86,166 |
|---|---|---|---|---|
34,639
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THE SIVA TRUST LTD (A COMPANY LIMITED BY GURANTEE ) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2024
6 INTANGIBLE FIXED ASSETS
| As at 01st MARCH 2022 Addition / ( Disposal ) As at 28TH February 2023 7 TANGIBLE FIXED ASSETS COST: As at 01st MARCH 2023 Addition / ( Disposal ) As at 29TH February 2024 DEPRECIATION: As at 01st MARCH 2023 Charge for year As at 29TH February 2024 NET BOOK VALUE: As at 29TH February 2024 As at 01st MARCH 2023 8 Debtors Prepayment |
Lease Property £ 3,398 3,398 Coins Building Renovation Statues Chariot Fixtures & fittings Totals £ £ £ £ £ 13,710 30,513 10,225 7,695 13,211 75,354 0 13,710 30,513 10,225 7,695 13,211 75,354 9,539 12,325 21,864 686 886 1,572 0 0 0 10,225 0 13,211 23,436 13,710 30,513 0 7,695 0 51,918 13,710 30,513 686 7,695 886 53,490 2024 2023 £ £ 3,835 3,835 3,835 3,835 |
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THE SIVA TRUST LTD
(A COMPANY LIMITED BY GURANTEE ) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2024
| 9 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other Creditors Payee Wages & accruals Nest 10 LOANS AND OVERDRAFTS An analysis of the maturity of loans overdrafts is given below: Bounce Back Loan Loan Private 01 Loan Private0 2 11 Employees Number of Employees The average monthly number of employees during the year were : Employees |
2024 £ 696 607 6330 79 7,712 2024 £ 15,011 7837 8028 30,876 2 2 |
2023 £ 1,501 840 4506 66 6,913 2023 £ 20,417 7837 8028 36,282 2 2 |
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