REGISTERED COMPANY NUMBER: 10120963 (England and Wales) REGISTERED CHARITY NUMBER: 1171929 Report of the Trustees and Consolidated Flnanclal Statements for the Year Ended 31 March 2025 for Shree Swaminarayan Mandir Bhuj (A Company Limited by Guarantee) Parker Cavendish Chartered Accountants Registered Auditor Suite 301, Slanmore Business and Innovation Centre Howard Road stanmore Middlesex HA7 1FW
Shree Swaminarayan Mandir 8huj Contents of the Financial Statements for the Year Ended 31 March 2025 Page Report of the Trustees Report of the Independent Auditors Charlty and Consolidated Statgment of Flnancial Activities Charlty and Consolidated Statemenl of Financial Position 8 to 11 Consolidated Statement of Cash Flows 12 Notes to the Consolldated Stalement of Cash Flows 13 Notes to the Consolidated Financial Statements 14 to 23
Shree Swaminarayan Mandlr 8huj (Regislered number- 101209631 Report of the Trustees for the Year Ended 31 March 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial slalernents of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charitses.. Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 effects've 1 January 2019). OBJECTIVES AND ACTIVtfiES Objectives and aims In accordance with the charitys objectives set out in the Articles of Associations of Ihe charity, the charity has the following aims: 11The advancement and propagatson of the Hindu lailh amongst ils followers and others based upon the original teachings and principles of Lord Shree Swaminarayan as propounded by the Nar-Narayan Dev Gadi. Gujarat, India. 21The advancement of Education 31The advancement of such other exclusNely charilale purFKJses under the Law of England and Wales as the Trustees shall determine at their discretion. Slgnificant activities Activities Review The Trustees remain pleased wth the successful and smooth c(Knpletion of the Charityls activities and the level of voluntary donations received. Mahaprasad During the year, the MahaPrasad project went through its second full year.. an initiative established for the purposes of establishing a base for Sattvic Prasad preparation and to aid the Charity with a desired soaal enterprise objective of feeding the needy longer lemi. The product range has continued to expand. as have numerous new wholesales, other Temples, corporate offices. school sign-ups. which is encouraging for brand growth. Mahapr8sad's own Charitable endeavours have grown substants'ally, supporting several other Temple's Charitable giving cA)upled w71h support of food banks etc. Cardiff Farn) Projert - Badrikashram l Tir Aikyam In consullalion with Shree Swaminarayan Temple Cardiff and Bhuj Mandir India., the trustees concluded to purchase a 66-acre farmland in Wales. to help develop a untfied, indusive and eco-conscious community.. promoting spiritual growth through the connection lo land. The purchase price was £1.35m wlh completion occurring in May 2025. The freehold asset is lo be managed, developed and operated by Shree Svrdrninarayan Temple Cardiff. Other During the year, SSMB supported the charilable activitses of our parent organisatii)n, Shree Swaminarayan Mandir Bhuj India with financial donations pertaining lo 'Gau Charo- {welfare of sacred cows). education, medical efforts, mandirrtemple sUPPOrt e.g. Mandvi. Anjar and ongoing Utsavs. Furthemiore, SSMB also supported the charitable activities of its sister organisation, SSMB Australia wth 8 donation to the new Temple in Adelaide. Public beneflt The charity is a public benefit entity- The trustees have complied with the duty in section 4 of the 2011 Charities Act lo have due Tegard to guidance published ty the Charrty Commission, including public benefit guidance. Volunteer5 The charity is reliant upon the contribution made by a number of volunteers in carrying out ils activities. The trustees would like lo thank all the volunteers for their hard work and dedication to the successful njnning of all the activities. FINANCIAL REVIEW Financial position The financial statements are set out on pages 6 to 23. The Consolidated Statement of Financial Activits'es show net surplus for the year of rewew of £206,043 12024.. £216.026 Surplus). The lolal consolidated reserves at the year-end stand al £10,668,52512024.. £10,462,483) of whith none are heFd as a restricted fund.
Shree Swaminarayan Mandir Bhuj (Registered number: 10120963 Report of the Trustees for the Year Ended 31 March 2025 FINANCIAL REVIEW Principal funding sources The principal fulld sources for the Charity continue to be through general donations from the global devotee base of the Swaminarayan faith. particulady Ihose of Shree Swaminarayan Mandir 8huj (Shree Nar-Narayan Dev). 11 is the policy of the charity that unrestricted funds are built to meet and fulfil any interest free loan obligations, further facilitate the purchase of the land and buildinos for all of the Charity's objectives and deliver positive Chartlable outcomes. Additionally, funds which are restrkcted for specific purposes e.g. specific use for Bhuj Temple are accounted for as such under restricted funds. Going concern In preparing the financial slatementS. the trustees are responsible for a55essing the charivs ability to conlinue as a going concern, disclosing, as applicable. mallers related to going concem and using the going concern basis of accounting. The Trustees believe that there are no going ci)ncem matters that would affect the Charity for the foreseeable future. FUTURE PLANS The Charrty 15 currenlly focused on the growih of the MahaPrasad soaal venture and now investing in the Cardiff Fami project. Next financial year will see the occurrence of the Nationwde National Youth Shibir and looking beyond, organising the grand celebration of Shikshaptri's 200th year anniversary. The Board of Directors together with consultations with our SritUal Head Temple. wll formulate future growth plans. working alongside sister and umbrella temples lo meet the needs of the UK and wider community. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charily is Controlled by its goveming documenl. a deed of trust. and consts'tutes a lirnited company, limited by guarantee, as defined by the Companies Act 2006. Shree Swaminarayan Mandir Bhuj (SSMB) is a Clmnpany limited by Guardntee and registered as a Charity wth the Charity Cornmi5sion. The Charity's affairs are govemed by its Articles of Assoc¢alion, that were adopted on 13th April 2016 and revised on1sl July 2021. The management of the Charity is undertaken by the Board of Trustees, which is responsible for its overall management and control. The Board will meet regulady lo discuss and formulate policy which it implements. Further, the Board ran establish variou5 committees to manage parb'cular projects. should they wish. The Charity shall have a minimum of 5 with no maximum. who shall hold office as directed by the Artides of Association. Wider network The subscriber of the Charity is Shree Swaminarayan Mandir, Inc, a Delaware non-profit, non-stock Corporation. The charity is the sole member of the following charities registered in the United Kingdom.. i) Shree Swaminarayan Mandir Oldham (Cornpany Limited by Guarantee) ill Shree Swaminarayan Vidyalay (Charitable application pending-company Limited by Guarantee) The charity is the sole shareholder of the following "mited Companies registered in the United Kingdom.. il Mahaprasad Ltd (Company Limited by Shares) Rlsk management The trustees identify the major risks to which the Charity is exposed to each financial year when preparing and updating a strategic plan, in particular, those areas related to the operations and finances of the Charity. The Trustees then review any major risks which have been identified and establish systems to miligate those risks. The Tnjstees continue lo put in pla appropriate intemal controls and moniloring procedures to minimise finanryal risks. REFERENCE AND ADMINISTRATIVE DETAILS Registered Cornpany number 10120963 (England and Wale5) Registered Charity number 1171929 RegisteTed office 502-504 Honeypot Lane Slanmore Middlesex HA7 1JR
Shree Swaminarayan Mandir Bhuj (Registered nurnber. 101209631 Report of the Trustees for the Year Ended 31 March 2025 Trustees Mahanl Swami Dharmanandan Dasji Kanji Khimji Je5ani Hilesh Parbal Bhudia Karsan Arj'an Vaghani Bhimji Ramji Hirani Premji Shivji Halal Parbal Premji Ruda Milesh Bhirnji Patel Auditors Parker Cavendish Chartered Accountants Registered Auditor Suile 301, Slanmore Business and Innovation Centre Howard Road Stanmore Middlesex HA7 1FW Bankers National Westminster Bank PIC 135 Bishopsgale London EC2M 3UR STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also the director5 of Shree Swaminarayan Mandir Bhuj for the PUTposes of company lawl are responsible for preparing the Report of the Trustees an(J the financial staternenls of the group and the charitable company in accordance with applicatAe law and Unrted Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland.. Company law requires the trustees to prepare finan(ial slatements for each financial year. Under that law, the twslees have elected to prepare the financial statefflents in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accaunling Standards and applicable law). Under company law the trustees must not approve the financial stalemenls unless they are satisfied that they give a true and fair view of the stale of affairs of the charitable cornpany and of the incorning resources and application of resources, including the income and expenditu, of the charitable company for that period. In preparing those finanrial statements. the trustees are required lo select suitable accounting policies and then appty them consistentty: obserye the rnethods and principles in the charib.es SORP.. make judgemenis and eslirnales that are reasonable and prudent: prepare the financial slatemenis on the going concem basis unless it is inappropriale to presume that the charitable cornpany will continue in business. The trustees are ressy)nsible for keeping proper accounting records which disc105e with reasonable accuracy al any lime the financial position of the Group and charitable company and to enable them to ensure that the Group and ch8rilable company financial statements comply with the Companies Act 2006. They are also reswnsible for safeguarding the assets of the charilable company and hence ft)r takn'ng reasonable steps for the prevention and detection of fraud and other irregularities. In so far as Ihe trustees are aware.. there is no relevant audit information of which the charitable company'5 auditors are unaware,. and the Iruslees have taken all steps that they ought lo have taken lo make themselves aware of any relevant audit information and to establish that the auditors are aware of that infomation. AUDITORS The auditors. Parker Cavendish. will be proSed for re-apwjintment at the forthcoming Annual General Meeting. App ved by der of the board of trustees on ........ . and signed on its behalf by= Milesh Bhimji Patel - Trustee
Report of the Independent Auditors to the Trustees of Shree Swaminarayan Mandir Bhuj Opinion We have audited the financial slalements of Shree Swaminarayan Mandir Bhuj {the 'charitable company'l and its subsidiary Ilhe 'group'l for the year ended 31 March 2025 which comprise the Statement of Financial Aclivilies, the Slalement of Finallcial Position, the Statement of Cash Flows and notes to the financial statements, including a SL¢mmary of significant accounting policies. The financial reporbng framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdorn Generally Accepted Accounting Practice). including Financial Reporb"ng Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.. In our opinion the financial slalements= give a true and fair view of the state of Ihe group'5 and parent charitable chariws affairs as al 31 March 2025 and of its ineoming resources and application Df resourc£s. induding its income and expenditure, for the year then ended-. have been properly prepared in accordance with United Kingdom Generally AcpIe Accounting Practice. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and have been prepared in accordance wth the requirernenls of the Ci)mpanies Act 2006. Basis for opinion We conducted our audit in accordance with Inlemational Slandards on Auditing {UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors. responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant lo our audit of the financial staternents in the UK. induding the FRC'S Ethical Stsndard. and we have fulfilled our other ethical responsibilities in accordance with Ihese requiremen15. We believe that the audit evidence we have obtained is sufficient and appropriate to prowde a basis for our opinion. Conclusions relating to going concern In auditing the financial slatemenls, we have concluded that the trustee5' use of the going concem basis of accounting in the preparation of the financial staternenls is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectivety. may cast significant doubl on the group's ability to continue as a going conrn for a period of al least twelve months fr when the financial statements a aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respect lo going concem are described in the relevant sections of this report. Other inforniation The Iruslees are responsible for the other infonnation. The other infomiation rnprises the infomiation included in the Annual Report, other than the financial 5tatemenls and our Report of the Independent Auditors thereon. Our opinion the financial statements does not cover the other inforniation and, except to Ihe extent otherwise explicitly staled in our report. we do not express any fom of assurance conclusion thereon. In connection with our audit of the financi21 stslements, our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsistent wlh the financial statements or our knowledge obtained in the audit or otherwise appears to materially misstated. If we identify such material inconsistencies or apparent material rnisslalemenls, we are required lo detefrnine whether this gives rise to a material misstatement in the financial 5talemenls Ihemsefves. If. based on the WO we have performed. we conclude that there is a material misststement of this other information. we are required to report Ihat fact. We have nothing to report in this regard. Matters on which we ar9 required to report by exception We have nothing to report in respect of the followng matters where the Group and Charity {Accounls and Reports} Regulats'ons 2008 requires us to report to you if. in our opinK.. the infomalion given in the Report of the Tru51ees is inconsistent in any material respect with the financial statements; or the charitable company has not kept adequate accounting records-. or the linancial statements are not in agreernent with the accounting records and retums-, or we have not re1Ve all the infomiation and explanations we require for our audit. Responslbilities of trustees As explained more fully in the Statement of Trustees, Re5ponsibililies. the tnjstees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such intemal control as the trustees determine is necessary to enable the preparation of financial staternents that are free from material misstalement. whether due to fraud or error. In preparing the financial statements. the tnJslees are responsible for assessing the charitable company's ability lo continue as a going concem, disclosing, as applicable. matters related to going concem and using the going conce basis of accounting unless the trustees either intend lo liquidate the charitable company or to cease operatioNs, or have no realistic alternative but lo do so.
Report of the Independenl Auditor5 to the Tslee$ of Shree Swaminarayan Mandir Bhuj Our responslbilities for the audit of the financial statements We have been appointed as auditors under sects.on 144 of the Charities Acl 2011 and report in accordan with the Act and relevant regulations made or having effect thereunder. Our objectives are lo obtain reasonable assurance aboul whether the financial statements as a whole are free from material misslalemenl. whether due lo fraud or error. and to issue a Report of ihe Independent Auditors that includes our opinion.. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misslalemenls can arise from fraud or error an¢J are (x)n5idered material rf, indiwdually or in Ihe aggregate, they could reasonably be expecied lo influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below.. Identification of laws and regulations applicable to Ihe charity group which may have a direct material effect on the financi81 statements or ils operaiions. including the Companies Act 2006, taxation legislation. data protection, anli-bribery, employment and health & safety legislation. Performing audit work over the risk of management override of controls. including testing of large or olhewse unusual journal entries and other adjustments for appropriateness. Reviewing financial slalemenl disdosures and testing lo supporting d0mentatiOn to assess Complian with the applicable laws and regulations. Review of legal and professional nominal accounts for indications of any actual or potential litigation. Reviewing correspondence and discussing with those charged with govemance for evidence of any actual or potential litigation or non-compliance with laws or regulats"ons. Review of accounting estimate5 for indications of management bias. A further description of our responsibilities for the audit of the financial statements is localed on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibililies. This description foms part of our Report of the Independenl Auditors. Use of our report This report 15 made solety to the charitable parent CoMpanS trustees, as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate lo the group's trustees those matters we are required lo state lo them in an auditors, report and for no other purpose. To the fullest extent permilted by law, we do not accept or assume responsibility to anyone other than the charitsble parent company and ils trustees as a body. for our audil work, for this report. or for the opinions we have formed. Parker Cavendish Chartered Accountants Registered Auditor Eligible to act as an auditor in temis of Section 1212 of the Companies Act 2006 Suite 301, Stanmore Business and Innovation Centre Howard Road Slanmore Middlesex HA7 1FW Date..
Shree Swaminarayan Mandir Bhuj Statement of Flnanclal Actlvities for the Year Ended 31 March 2025 2025 2024 Unrestricted other Total Total fund restricted fvnds funds Notes INCOME AND ENDOWMENTS FROM Oonalions and legacies 880,645 86.774 967,419 1,156,949 Investment income 70,315 Total 948.242 86,774 1,035,016 1,227,264 EXPENDITURE ON Raising funds 1.143,759 1.143.759 2.007,970 Charitsble activities Community support Governance costs 54.771 75,419 47,320 125 306 54.771 75,419 134,094 125 306 175,626 16,800 270.201 7,983 Donations 86,774 Depreciation Total 1.446.610 1.533.384 2.478,580 NET INCOMEI{EXPENDITUREI 1498.368) {498.368) 11.251.316) RECONCILIATION OF FUNDS Total funds brought forward 9.303.289 9.303.289 10,554,606 TOTAL FUNDS CARRIED FORWARD 8.804.921 804.921 9,303,290 CONTINUING OPERATIONS All of the company's activities have arisen from continuing activities. The note5 fomi part of these financial statements
Shree Swaminarayan Mandir Bhuj Consolidated Statement of Flnanclal Activities for the Year Ended 31 March 2025 2025 2024 Unrestricted Restricted Total Total funds funds funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 880,645 86.774 967,419 1,156.949 Investment income 67,597 67.597 70.315 Tr8ding incorne 510.806 510.806 237,297 Total 1.459.048 86.774 1.545,822 1,464,561 EXPENDITURE ON Charitable activities Community support Governance costs 54.771 84,213 47,320 125.306 941,395 54.771 84,213 134,094 125.306 941,395 175,626 24,770 270.201 7,983 769,955 Donations 86.774 Depreciation Trading expenses Total 1.253,005 86.774 1,339,779 1,248,535 NET INCOMEI{EXPENDITURE) 206.1)43 206.043 216,026 Net movement In funds 206.043 206,043 216,026 RECONCILIATION OF FUNDS 15 Total funds brought forward 10.462.482 10.462.482 10.246,457 TOTAL FUNDS CARRIED FORWARD 10,668,525 10,668,525 10.462,483 CONTINUING OPERATIONS All of the group's activities have arisen from continuing attlvilies. The notes fomi part of these finanaal statements
Shree Swaminarayan Mandir Bhuj (Registered number. 10120963) Statement of Financial Positlon 31 March 2025 2025 2024 Unrestricted Total Total funds funds funds Notes FIXEO ASSETS Tangible assets Investments 8,555.991 8.555.991 7.324,974 Investments Investment property 10 546.600 546.600 546,600 9,102,592 9.102,592 7,871,575 CURRENT ASSETS Debtors 11 515,436 1962.702 515.436 1,962,702 1.231,755 1.993,697 Cash at bank 2.478.138 2.478.138 3.225.452 CREDITORS Amounts falling due within one year 12 2.775.809 2,775.809L 1,688,737 NET CURRENT ASSETS 297.671 297,671 1,536,715 TOTAL ASSETS LESS CURRENT LIABILITIES 8.804,921 8.804.921 9.408,290 CREDITORS Amounts falling due after more than one year 13 105,000 NET ASSETS 8 804 921 8.804.921 9,303,290 FUNDS Unrestricted funds 804.921 8 804 921 9,303,290 TOTAL FUNDS 8.804,921 8.804,921 9,303,290 The notes fomi part of these finanaal statements
Shree Swarninarayan Mandlr Bhuj (Registered number: 101209631 Statemgnt of Financlal Posltlon - continued 31 March 2025 The charitable company is entitled to exempb.on from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025. The members have nol deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements. The trustees acknowledge their responsibilities for (al ensuring that the charitable company keeps accounting records that cornp with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable cornpany as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of SeclitMs 394 and 395 and which olheThMse comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011. (bl These financial Statements have been prepared in accordance with the provisions applicable to charitable companies subject lo the small companies regirne. The fin ncial staternents were approved by the Board of Trustees and aulhorised for issue on . and were signed on its behalf by: Milesh Bhimji Patel - Trustee
Shree Swaminarayan Mandlr Bhuj (Rggistered number: 10120963) Consolldated Slatemgnt of Flnancial Position 31 March 2025 2025 2024 Unrestricted Total Total funds funds funds Notes FIXED ASSETS Tangible assets Investment property 10.298,032 $46,600 10,298.032 546.600 9,157.194 546,600 10 10,844.632 10.844,632 9.703,794 CURRENT ASSETS Stocks 109.499 476,563 109.499 476,563 100.334 402,884 Debtors Cash at bank and in hand 2.028,413 2.028.413 2.060.966 2,614,475 2,614,475 2,564,184 CREDITORS Amounts falling due wthin one year 12 (2.790,583) 12.790.583) (1.700.496) NET CURRENT ASSETS {176.1081 {176.108) 863,688 TOTAL ASSETS LESS CURRENT LIABILITIES 10.668.524 10,668,524 10.567.482 CREDITORS Amounts falling due after more tharE one year 13 (105,0001 NET ASSETS 15 10,668,524 10.668,524 10,462,482 FUNDS Unrestricted funds 10.668.525 10.462,482 TOTAL FUNDS 10.668,525 10.462,482 The notes fomi part of these finanual statements 10
Shree Swaminarayan Mandir Bhuj (Registered number: 10120963) Consolldated Statement of Flnanclal Position - conllnued 31 March 2025 The charitable company is entitled to exemption from audit under Secb'on 477 of the Cornpanies Act 2006 for the year ended 31 March 2025. The members have not deposited notice. pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements. The trustees acknowledge their responsibilities for lal ensuring that the charitable company keeps accounting records that compty with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair Mew of the slate of affairs of the charitable company as al the end of each financial year an¢Y of ils surplus or deficit for each financial year in accordan with the requirements of Sections 394 and 395 and which olheThMse comply with the requirements of the Companies Act 2006 relating lo financial statements. so far as appiCable to the charitsble company. (bl These financial statements have been audiled under the requirements of Section 145 of the Charities Act 2011. These financial statements have been prepared in acc(Kdance wth the provisions applicable to charitable companies subject to the small companies regime. anci statements were approved by the Board of Truslees and authorised for issue on and were signed on its behalf by.. Milesh Bhimji Patel - Trustee
Shree Swarnlnarayan Mandir Bhuj Consolidated Statement of Cash Flow5 for the Year Ended 31 March 2025 2025 2024 Notes Cash flows from operating activities Cash generated from operations 1.608.289 28,625 Nel cash provided by operating actiwties 1.608.289 28,625 Cash flows from investing activities Purchase of tangible fixed assets Increase I (Decrease) in Loans to Related PaeS Interest received (1,404.743) 1131,796) 67.597 1298,901) 1427,4351 70.315 Net cash used in investing activities (1,468.9421 {656.0211 Cash fl¢)ws from flnancing activitles Repayment of Loans (171.900) {376.0001 Net cash (used inypn)vided by financing activities (171.900) {376.0001 Change in cash and cash equivalents In the reporting period 132,553) {1,003,3961 Cash and cash equivalents al the beginning of the reporting period 2.060.966 3,064,362 Cash and cash equivalents at the end of the reporting period 2,028,413 2.060.966 The notes fomi part of these financial statements 12
Shree Swaminarayan Mandir Bhuj Notes to the Consolldated Statement of Cash Flows for the Year Ended 31 March 2025 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net income for the reporting period las per the Statemenl of Financial Activities) 206.043 216.026 Adjustments for: Depreciation charges Increase in stocks 263.905 (9.165) (67.597) (73.679) 1.288,782 258.712 {100,3341 170,315) 195,142 1470,6061 Interest received Ilncreaseydecrea5e in debtors Increaselldecreasel in creditors Net cash provlded by operations 1,608,289 28,625 ANALYSIS OF CHANGES IN NET {DEBniFUNDS At 1.4.24 Cash Ilow At 31.3.25 Net cash Cash at bank and in hand 2,060.966 (32,553) 2,028.413 2.060.966 (32.553) 2.028.413 Debt Debts falling due within 1 year Debts falling due after 1 year (327,856) (105,0001 66.900 105.000 {260,956) 1432,856) 171,900 (260,9561 Total 1,628,110 139.347 1,767,457 13
Shree Swarninarayan Mandir Bhuj Notes to the Financlal Statements for the Year Ended 31 March 2025 ACCOUNTING POLICIES Basis of preparing the financial statements The financial slalemellts of the charitsble cornpany. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accovnting and Reporting by Charitie5.' Sialemenl of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102) (effective l January 2019}', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006 and Charities act 2011. The finanoal statements have been prepared under the historical cost convention. with the exception of investments which are included at market value. The Charity constilules a public benefit entity as defined by FRS 102. Basis of Consolidation The collsolidated financial statements consolidate the financial stalements of the charity and its subsidiary undertaking, Mahaprasad Ltd la wholty owned subsidiary) drawn up to 31 March 2025. The consolidation is prepared on a line-by-line basis. A subsidiary is an entity controlled by the charity. Control is achieved where the charity has the power to govem the Iinanaal and operaling policies of an entity lo obtain benefits from ils acb"vities. Inter-company transactions. balan5 and unrealised gains on ITansactions between the charity and its subsidiaries, which are related pa"e5. are eliminated in full. Intra-group losses are also eliminated bul may indicate an impairment that requires recognition in the CA)nsoli¢Yated financial statements. Critical accounting judgemonts and key sources of estlmation uncertainty In the application of the charilvs accounting policies. the Trustees are required to make judgements, estirnates and assumptions about the c2rrying amount of assets and liabilibes that are not readily apparent from other sources. The estimates and associated assumpbons are based on historical experience and other factors that are considere(I to be relevant. Actual results may differ from these estimates. The estimates and undetying assumptions are reviewed on an ongoing basis. Revisions to accounting estirnates are recognised in the period in whith the estimate is revised where the revision affects only that period, or in the period of the revision and futUTe periods where the revisn affects both rrent and fulure periods. Charitable fvnds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designaled for other purposes. Restricted funds are subject to specific conditions by donors as to how they must be used. The purposes and uses of the restricted funds are set out in the notes to the finanaal slalements. Income All incoming resources are included in the statement of financial activilies when the th8rity is enb.tled to the income, and the arnount can be quantified with reasonable accuracy. The following specific poliaes are applied lo particular categories of income-. Voluntary income is received by way of grants, donabons and gifts and is included in full in the statement of rinancial activities when receivable. Grants where entiliement is not conditional on the delivery of a specific performance by the charily. are recognised when the charity becomes uncondib"onally entitled to the grant. Donated services and facililies are included at the value to the tharity where this can be quantified. The value of Services provided by vdunteers has not been induded. Tumover represents the sale of food and related prc*Jucts excluding value added tax. Expenditure Experidilure is recognised on an accwal basis as a liability is incurred. Expenditure indudes any VAT which cannot be ftjlly recovered and is reFKJrted as part of the expenditure lo which it relates. Costs of generating funds comprise the costs associated wth allracting voluntary income and the costs of trading for fundraising purposes. Charitable expenditure comprises those wsls incurred by the charity in the delivery of ils activities and services for its beneficiaries. It indudes both costs that can be allocated directly to such activities and those costs of an indirect nalure necary to supwrt them. Support costs are Ihose costs incurred directly in support of expenditure on the obj'ects of the charity and include project managemenl. 14
Shree Swarninarayan Mandlr Bhuj Notes to the Financlal Statements - contlnued for the Year Ended 31 March 2025 ACCOUNTING POLICIES - continued Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequenuy measured al cost or valuation, nel of depreciation and any impaimient losses. Tangible fixed assets 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.. Freehold & long leasehold properties Leasehold Improvements Plant & Machinery Fixtures & Fittings land is not depreciated & Building 2% on cost Straight line over the length of the lease 7% on cost 10% on cost Investment property Investment property, which is propety held lo eam rentals andlor for capital appreaation, is initially recognised at cost, which includes the purchase cost and any diredy attributable expenditure. Subsequently it is rneasured at fair value at the reporting end date. The surplus or deficil on revaluatr.on is recconised in profit or loss Taxation The charity is exempt from corporation tax on its charitable activrties. The trading subsidiary is subject to corporation tsx at prevailing rates. Financial Instruments The charitable group only has financial assets and liabilits'es of a kind that qualfy as basic financial instruments. cash al bank, debtors and creditors. Basic financbal instruments are initially measured at transaction value and svbsequenlly measured at their settlement value. Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a knovm arnount of cash and are subject lo an insignificant risk of change in value. Stocks stocks are valued at the lower of cost and net realisable value. after making due alk)wance for obsolete and slow moving items. Debtors Trade and other debloTS are recogniged al the settlement arnount due and prepayments are recognised when costs have been expended whith are in advance of the perr(MJ lo which they relate. Credltor5 Trade and other creditors are nomially recognised at their settlemenl amount. Accruals are recognised when costs relating to the period have not yet been invoiced to or paid by the charity. Creditors Due after 1 year The parent charity h85 Outstanding loans from devotees and temples affiliated lo Shree Swaminarayan Temple Bhuj India. These are repayable between 2 10 5 years a provision that any lender may request a repayment with a 60-day noti. The trustees are of the opinion that even though this provision exists, they consider that these loans should be classified as due after 1 year as they do not consider repayment wll be required before the expiry of the term. These loans are classtfied as public benefit cOnSsiOnary loans and as such the public benefit concessionary loan exemptions have been applied. The loans are included at cost and are not adjusted or discounted. Funds General unrestricted funds - These are funds which can be used in accordance the charitable objects al Ihe discretion of the Trustees. Restricted funds- These are funds that can only be use(1 for particular restricted purFX)ses. Restrictions arise when specified by Ihe donor. Going concern The Trustees are of the opinion that there are no going concem issues that would affect the group and charity for the foreseeable future and accordingly the financial statements have been prepared on a going concem bas. 15
Shree Swaminarayan Mandir Bhuj Notes to the Financlal Statements - contlnued forthe Year Ended 31 March 2025 DONATIONS AND LEGACIES 2025 2024 Donations 870.679 96.740 1,037,628 119.321 Gift aid 967.419 1,156,949 INVESTMENT INCOME 2025 2024 Deposit account interest 67.597 70.315 RAISING FUNDS 2025 2024 Raising donations and legacies Support costs 8.759 7.970 Raising fund5 Grants Awarded Out 1.135,000 2,000,000 1.143.759 2,007.970 CHARITABLE ACTIVITIES COSTS Group 2025 Charity 2025 Group 2024 Charity 2024 Community support 54,771 84,213 54.771 75.419 134.094 125.306 175,626 175,626 Governan costs 24,700 270,201 16,800 Donations 134.094 125306 270.201 Depreciation 7,893 7.893 398.384 389,590 478,420 470,520 16
Shree Swaminarayan Mandir Bhuj Notes to the Flnancial Statements - continued for the Year Ended 31 March 2025 GROUP TANGIBLE FIXED ASSErs Group Land and Charity Land and Group Plant and Group Totals Charity Totals Buildings Buildings machinery COST Al 1 April 2024 Additions 8,481.470 1,356,323 7.518.346 1.356.323 1.061.279 48.420 9,542.749 1.404.743 7,518,346 1,356,323 At 31 March 2025 9,837.793 8.874,669 1.109.699 10.947,492 8,874,669 DEPRECIATION Al 1 April 2024 Charge for year 288.235 189,514 193,372 125.306 97,320 74.391 385,555 263,905 193,372 125,306 At 31 March 2025 477.749 318,678 171,711 649.46 318,678 NET BOOK VALUE At 31 March 2025 9.360.044 8,555.991 937,988 10.298,032 8.555,991 Al 31 March 2024 8.193.235 7.324.974 963.959 9,157,194 7.324.974 TRUSTEES. REMUNERATION AND BENEFrrs There were no trustees. remuneration or olher benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees. expenses There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. 17
Shree Swaminarayan Mandir Bhuj Note5 to the Financial Statements- continued for the Year Ended 31 March 2025 8. COMPARATIVES FOR THE GROUP STATEMENT OF FINANCIAL ACTIVITIES Unrestricted other Total fvnd restricted funds INCOME AND ENDOWMENTS FROM Donations and legacies 886.748 270,201 1.156,949 Investment income 70,315 70.315 Trading income 237.297 237,297 Total 1,194,360 270.201 1.464,561 EXPENDITURE ON Charitable actsvilies Community support Governance costs 175,626 24.770 175,626 24,770 270,201 7,983 769.955 Donations 270.201 Depreciation Trading expenses 7.983 769.955 Total 978,334 270,201 1.248,535 NET INCOMEIIEXPENDITURE} 216.026 216,026 RECONCILIATION OF FUNDS Total funds brought foNiard 10.246.457 10,246,457 TOTAL FUNDS CARRIED FORWARD 10,462,483 10.462,483 18
Shree Swaminarayan Mandlr Bhuj Notes to the Flnancial Statements - continued for the Year Ended 31 March 2025 FIXED ASSET INVESTMENTS Shares in group undertakings MARKET VALUE At 1 April 2024 and 31 March 2025 NET BOOK VALUE Al 31 March 2025 and 31 March 2024 There were no investment assets outside the UK. The company's investments at the balance sheet date in the share capital of companies include the following: Mahaprasad Limlted Registered office: 502-504 Honeypot Lane. First Fl(N)r. Slanrnore. United Kingdom. HA7 1JR Nature of business.. FIM)d production and sale Class of share.. Ordinary holding 100 2025 2024 Aggregate capital and reserves Profil ILossl for the year 704.411 1,467.342 10. INVESTMENT PROPERTY FAIR VALUE Al 1 April 2024 and 31 March 2025 546.600 NET BOOK VALUE Al 31 March 2025 546,600 At 31 March 2024 546,600 The charity's investment property was valued by the trustees at 31 March 2025. There has been no material thange in valuation from the previous year end date.
Shree Swaminarayan Mandir Bhuj Notes to the Financial Ststements - contlnued for the Year Ended 31 March 2025 11. DEBTORS Group 2025 Charfty 2025 Group 2024 Charity 2024 Amounts falling due within one year. Trade Debtors Other Debtors 1,100 475.462 622 402,262 325 436 331.755 325,436 402,884 331,755 12. CREDITORS Group 2025 Charty 2025 Group 2024 Charity 2024 Amounts falling due within one year.. Trade CrediloTS other Loans (see nole 14) Other CreditOTS 385 260,956 2,528 942 8.259 327,856 1,364,381 260,956 2.514.553 327,8fj6 1,360,881 2 790.283 2.775.509 1.700.496 1,688.737 13. LOANS An analysis of Ihe maturity of loans is given below= Group 2025 Charity 2025 Group 2024 Charity 2024 Amounts falling due wthin one year on demand.. other loans 260.9S6 260,956 327,856 327.856 Amounts falling between one and iwo years: Olher103ns 105,000 105,000 These are public benefit concessionary loans from devotees and temples affiliated to Shree Swaminarayan Temple Bhuj India. Tfvey are interest free and are repayable on the various annivetsary years after their issue as shown by the above classification. There is also a provision that any lender may request a repayment wth a 60-day notice. The trustees are of the opinion that even though this provision exists. they consider that these loans should be classified as due after 1 year as they do not consider repayrnenl wll be required before the tem expiry. Public benefit concessionary loan exemptions have been applied and are not adjusted or discounted. 20
Shree Swarninarayan Mandir 8huj Notes to the Financlal Staternents - contlnued for the Year Ended 31 March 2025 14. GROUP LEASING COMMITMENTS Minimum lease paents under n0r14xnIIable operating leases fall due as follows 2025 2024 Within one year Between one and five years In more than five years 155,656 648,832 1063 384 155,656 648,832 1,221,269 1,867,872 2.025.757 15. GROUP MOVEMENT IN FUNDS Nel movement in funds At 31.3.25 At 1.4.24 Unrestricted funds General fund 10,462.483 206,043 10.668,525 TOTAL FLINDS 10.462 483 206,043 10,668,525 Net movernenl in funds. induded in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 1,459.048 (1,253,005) 206,IM3 Restricted funds Other reslricled 86.774 (86,774) TOTAL FUNDS 1,545.822 1,339,779) 206,043 Comparativeg for Group movement in funds Net movement in fund5 At 31.3.24 At 1.4.23 Unrestricted funds General fund 10,246.457 216,026 10.462,483 TOTAL FUNDS 10,246,457 216,026 10.462,483 21
Notes to the Flnancial Staternents - continued for tho Year Ended 31 March 2025 15. MOVEMENT IN FUNDS- conlinued Comparative net movement in funds. included in the above are as follows: IncomirrfJ resources Resources expended Movement in funds Unrestricted funds General fund 1,194.360 (978.3341 216,026 Restricted funds Other restrided 270.201 (270.201) TOTAL FUNDS 1,464.561 1.248.535) 216.026 A current year 12 months and prior year 12 months cornbined posilion is as follows.. Nel movement in funds At 31.3.25 At 1.4.23 Unrestrlcted fvnds General fund 10.246.457 422.068 10,668.525 TOTAL FUNDS 10,246.457 422,068 10,668,525 A current year 12 months and prior year 12 months combined net movemenl in fvnds. induded in the above are as follows: Incoming Resources expended Movement in funds Unrestricted fund5 General lund 2.653.408 12.231.339) {422,0691 Restrlcted funds Other restricted 356.975 (356.9751 TOTAL FUNDS 3.010.383 2,588.314) 422,069) 22
Notes to the Financlal Statements - contlnued for the Year Ended 31 March 2025 16. RELATED PARTY DISCLOSURES Related paty transactions were as follows: The chairman of the board of Iruslees of the charity is the head priest of Shree Swaminarayan Mandir in Bhuj, India. During the year a donation of £124.094 {2024= £270.201) was made to Shree Swaminarayan Mandir in Bhuj, India. A related charity based in Cardiff. Wales which wll run the day-lo-day operations of the proposed wellness centre in Cardiff was donated £10.000 during the year. A related charity based in Adelaide, Australia was donated £10.500 during the year. The charity 8Wdrded a grant lo its 100% ovmed subsidiary Mahaprasad Ltd £1.135m {2024'. £2m). During the year, the charity received £30.756 (2024.. £78,008) of donats'ons from related trustees of the chaTIty. Al the year end. SSMB owed £714.732 (2024- £846.527) to SSMO for the transfer of interest free loans SSMO gathered from the community. At the year end, SSMB were owed £190.00012024.' £900,000) from its wholly owned subsidiary Mahaprasad. 23