## **SHREE LOHANA MAHAJAN LEICESTER CIO**
# **Annual Report & Accounts**
**31 December 2023**
Charity Registration Number: 1175141
Company Number: CE011588
## **SHREE LOHANA MAHAJAN LEICESTER CIO**
## **Contents**
||**Page**|
|---|---|
|Charity information|1|
|Report of the Trustees|2 to 4|
|Independent examiner's report|5|
|Statement of Financial Activities|6|
|Statement of Financial Position|7|
|Notes to the Financial Statements|8 to 11|
|Detailed Statement of Financial Activities|12|
## **SHREE LOHANA MAHAJAN LEICESTER CIO Charity Information**
## **Charity number**
1175141
**Company Number** CE011588
## **Board of Trustees**
Mr Prakash Bhojani - Chairman Mr Maheshbhai Gheewala Mrs Nitiben Gheewala Ms Avni Lakhani Mr Kantilal Majithia Mr Himat Popat Mr Harsad Saujani Mr Pravinkumar Vasani
## **The Charity Administrators**
Mr Prakash Bhojani - Hon Chairman Mr Jayant Lakhani - Treasurer
## **Bankers**
Punjab National Bank
## **Honorary Independent Examiner**
Mr Amit Kanani Burleys Leicester Limited Chartered Certified Accountants 9 Gower Street Leicester LE1 3LJ
## **Administrative Offices**
SMT Nitiben Maheshbhai Gheewala Centre Hilyard Road Ross Walk Leicester LE4 5GG
1
## **SHREE LOHANA MAHAJAN LEICESTER CIO**
## **Trustees' Annual Report For the year ended 31 December 2023**
The trustees present their report with the financial statements of the charity for the year The trustees present their report with the financial statements of the charity for the year ended 31 ended 31 December 2023. The trustees have adopted the provisions of Accounting and December 2018. The trustees have adopted the provisions of Accounting and Reporting by Reporting by Charities: Statement of Recommended Practice applicable to charities Charities: Statement of Recommended Practice applicable to charities preparing their accounts in preparing their accounts in accordance with the Financial Reporting Standard applicable in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
## **OBJECTIVES AND ACTIVITIES**
**OBJECTIVES AND ACTIVITIESObjectives and aims Objectives and aims** The objectives of the Charity are to promote Hindu religion and culture in the city of The objectives of the Charity are to promote Hindu religion and culture in the city of Leicester. Leicestershire. These objects are achieved by providing a place of worship, conducting These objects are achieved by providing a place of worship, conducting religious services, religious services, celebrating religious festivals and providing Educational, Cultural and celebrating religious festivals and providing Educational, Cultural and Social Activities and providing Social Activities and providing understanding of Hindu faith to other faiths. Resources were also employed to promote language, literature and music instructions and discussions were understanding of Hindu faith to other faiths. Resources were also employed to promote language, also conducted regularly on religious principles. Funds were collected through voluntary literature and music instructions and discussions were also conducted regularly on religious donations to finance Charity's activities as well as from the hiring of the hall facilities for principles. Funds were collected through voluntary donations to finance Charity's activities as well religious functions, music shows, plays and weddings. as from the hiring of the hall facilities for religious functions and weddings.
**Public benefit Public benefit** The Trustees have given due regard to guidance published by the charity commission on The Trustees have given due regard to guidance published by the charity commission on public public benefit. benefit to continue its registration with the Charity Commission.
## **ACHIEVEMENT AND PERFORMANCE**
## **ACHIEVEMENT AND PERFORMANCE**
The Trustees consider that performance of the charity this year has been satisfactory and The Trustees consider that performance of the charity this year has been satisfactory and therefore are grateful to the Management Committee and other volunteers who have been involved the trustees are grateful to the Management Committee and other volunteers who again this year in day to day management, service provision, charity events and fund raising. It has not involved in service provision, charity events and fund raising. It has not been possible to quantify been possible to quantify the volunteer hours provided this year. the volunteer hours provided in the year.
This year the Mahajan enhanced the role of "Bereavement Committee" of volunteers to **FINANCIAL REVIEW** help the community during the process of bereavement by assisting the family during **Principal funding sources** "Prathna Sabha" at the hall, providing volunteers at the "Cremation formalities" and also providing "Sewa" after the funeral if and when required. This service has been well The charity's sources of income arose from the donations from the devotees attending the temple received by the community. for various religious functions and festivals as well as from the hiring of the community centre and
temple facilities. This year the "Sports Hall" was also cleared of all the unused items dating back to almost 30 years which was hardly ever used. The plans will now be put in place by the Trustees to **Investment policy** develop the Sports hall for the benefit of the community. The views of the community will The Trustees have put surplus money on Interest bearing deposit accounts, which they intend to also be sought and approach will also be made to the authorities to apply for the grant continue in the foreseeable future. funding.
## **Reserves policy**
## **FINANCIAL REVIEW**
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the
**Principal funding sources** charity at a level which is required to meet its objectives of approximately six months unrestricted The charity's sources of income arose from the donations from the devotees attending the expenditure. This provides sufficient funds to cover management and administrative costs for the temple for various religious functions and festivals as well as from the hiring of the charity. The Board reviews this periodically. community centre and temple facilities.
The Statement of Financial Activities shows net income for the year of £13,880 and restricted and **Investment policy** unrestricted reserve stand at £1,157,741 in total. The Trustees would put surplus money on Interest bearing deposit accounts, which they intend to continue in the foreseeable future.
**FUTURE PLANS**
Th h it l ti i it h it bl ti iti i th i bj t t bt i i
2
## **SHREE LOHANA MAHAJAN LEICESTER CIO**
## **Trustees' Annual Report**
## **For the year ended 31 December 2023**
The charity plans continuing its charitable activities in the ensuing years subject to obtaining
## satisfactory funding arrangements. **Reserves policy**
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of **STRUCTURE, GOVERNANCE AND MANAGEMENT** the charity at a level which is required to meet its objectives of approximately six months unrestricted expenditure. This provides sufficient funds to cover management and **Governing document** administrative costs for the charity. The Board reviews this periodically.The charity is controlled by its governing document, a deed of trust, and constitutes an
unincorporated charity.
**The Statement of Financial Activities shows net profit for the year of £65,366 (2022 - £23,362) and restricted and unrestricted reserve stand at £142,527 (2022 - £77,161) in** The legal ownership of the charity's moveable and immovable property vests with the Trustees and **total.** ~~they a~~ re responsible for the management of day-to-day matters.
## **Recruitment and appointment of Management Board FUTURE PLANS**
The Trusses are elected every three years and due consideration is given as to their suitability The charity plans continuing its charitable activities in the ensuing years subject to before being elected. They are familiar with the practical work of the charity and of its objectives. obtaining satisfactory funding arrangements. Appropriate training is provided as required for their roles as trustees.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Organisational structure**
The Leicester Mahajan Trust has a trust board comprising of 7 elected and 2 nominated members, **Governing document**
who meet regularly and are responsible for the strategic direction and policy of the trust.The charity is governed by the Constitution of Shree Lohana Mahajan Leicester CIO. The legal ownership of the charity's moveable and immovable property vests with the CIO.
**STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Recruitment and appointment of Management BoardRisk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to
## **Trustees:**
ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees are elected every three years and due consideration is given as to their The Trustees are aware of the risks to funding and review the situation at every suitability before being elected. They are familiar with the practical work of the charity and Trustees/committee meeting. Appropriate plans to deal with this are in place and are continually of its objectives. Appropriate training is provided as required for their roles as trustees. monitored. Procedures are also in place to monitor the Health and Safety of all of the Charity's staff
members and visitors to the temple and the Community Centre. Wherever possible the risks are The Board of Trustees consists of 9 Trustees comprising of 7 elected and 2 nominated insured with a reputable insurance company. The charity is open to the usual financial risks of any Trustees, who meet regularly and are responsible for the strategic direction and policy of organisation and the charity has introduced controls to minimise these risks such as two signatures CIO. being required for payments from the bank accounts. The treasurer provides monthly financial
## statements which are explained to the trustees. **Management Committee:**
**REFERENCE AND ADMINISTRATIVE DETAILS** The Management Committee is elected every two years and is responsible for day to day **Registered Charity number** management of the Centre as agreed by the Trustees. 514947
The term of Management Committee expired at the end of May 2022. The newly elected **Principal address** members were invited to continue to perform their duties. Currently the matter of future SMT Nitiben Maheshbhai Gheewala CentreManagement structure is under consideration.
## Hilyard Road
The trustees had organised a training session and are planning to hold another training Ross Walk session this year to enable members have a better understanding of CIO consideration and Leicester Charity Commission requirements. LE4 5GG
## **Risk management:**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against **Trustees** fraud and error. The Trustees are aware of the risks to funding and review the situation Mr Himat Tanna - Resigned onregularly. Appropriate plans to deal with this are in place and are continually monitored. Mr Prakash BhojaniProcedures are also in place to monitor the Health and Safety of all the Charity’s staff Mr Maheshbhai Gheewalamembers and visitors to the temple and the Community Centre. Mrs Nitiben Gheewala
Mr Pravin Vasani Mr Natubhai Bhayani M Bh d h Gh l i
3
## **SHREE LOHANA MAHAJAN LEICESTER CIO**
## **Trustees' Annual Report For the year ended 31 December 2023**
Mr Bhadresh Ghelani
Wherever possible the risks are insured with a reputable insurance company. The charity is Mr Kantibhai Majithia open to usual financial risks of any organisation and the charity has introduced controls to minimise these risks such as two authorised signatures in the organisation (including **Executive Committee** Leicester Mahajan Trust) being required for payments from the bank accounts. The Mr Ashok Kotecha - President treasurer provides three monthly financial statement which are explained to the trustees.Mr Chetanbhai Amlani - Vice President
## Mr Harishbhai Karia - Treasurer **REFERENCE AND ADMINISTRATIVE DETAILS**
**Independent examinerRegistered Charity number:** 1175141 Mr A D Kanani, FCCA **Company number:** Burleys Leicester LimitedCE011588
Chartered Certified Accountants **Principal address** 9 Gower Street SMT Nitiben Maheshbhai Gheewala Centre LeicesterHilyard Road LE1 3LJRoss Walk Leicester LE4 5GGApproved by order of the board of trustees on 13 May 2018 and signed on its behalf by:
## **Trustees**
Mr Prakash Bhojani - Chairman Mrs Nitiben Gheewala Mr Maheshbhai Gheewala Ms Avni LakhaniBhanubhai Chandarana - Trustee Mr Kantilal Majithia Mr Himat Popat Mr Harsad Saujani Mr Pravinkumar Vasani
## **The Charity Administrators**
Mr Prakash Bhojani - Chairman Mr Jayant Lakhani - Treasurer
## **Independent examiner**
Mr A D Kanani, FCCA Burleys Leicester Limited Chartered Certified Accountants 9 Gower Street Leicester LE1 3LJ
Approved by order of the board of trustees on 19 May 2024 and signed on its behalf by:
Mr Prakash Bhojani - Trustee
4
## **SHREE LOHANA MAHAJAN LEICESTER CIO**
## **Independent examiner's report to the Trustees on the accounts of Shree Lohana Mahajan Leicester CIO for the year ended 31 December 2023**
I report on the financial statements of Shree Lohana Mahajan Leicester CIO for the year ended 31st December 2023 which are set out on pages 6 to 12.
## **Respective responsibilities of trustees and examiner**
As described on pages 2 to 4, the Charity's trustees are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the Act'). The trustees are satisfied that the audit requirement of Section 144(2) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the governing document or constitution of the Charity for the conducting of an audit. As a consequence, the trustees have elected that the financial statements be subject to independent examination.
It is my responsibility to:-
a) examine the accounts under section 145 of the 2011 Act;
b) to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Act; and;
## **Basis of opinion and scope of work undertaken**
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 disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken 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.
## **Independent Examiner's Statement, report and opinion**
In connection with my examination, no matter has come to my attention:
1) which gives me reasonable cause to believe that, in any material respect, the requirements:
to keep accounting records in accordance with section 130 of the 2011 Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**Mr A D Kanani FCCA Burleys Leicester Limited Chartered Certified Accountants** 9 Gower Street Leicester LE1 3LJ
19 May 2024
5
## **SHREE LOHANA MAHAJAN LEICESTER CIO Statement of Financial Activities for the year ended 31 December 2023**
|**Unrestricted**
**funds**
**Notes**
**2023**
**£**
**Income & Endowments From**
_Incoming resources from generated funds:_
Donations & Legacies
2
120,412
Investment Income
3
-
Income From Charitable Activities
4
68,724
Other Income
5
43,745
Gauchara fund
-
**Total incoming resources**
232,881
**Expenditure**
_Resources expended from direct charitable expenditure :_
Raising funds
6
148,314
Charitable Activities Costs
7
15,714
Other Expenses
8
5,317
**Total resources expended**
169,345
**Net incoming resources**
63,536
Total funds brought forward
66,900
**Total funds carried forward**
130,436|**Restricted**
**funds**
**2023**
**£**
-
-
-
-
1,830
1,830
-
-
-
-
1,830
10,261
12,091|**Total**
**funds**
**2023**
**£**
120,412
-
68,724
43,745
1,830
234,711
148,314
15,714
5,317
169,345
65,366
77,161
142,527|**Total**
**funds**
**2022**
**£**
86,391
-
36,989
49,882
1,739|
|---|---|---|---|
||||175,001|
||||135,135
13,315
3,189|
||||151,639|
||||23,362
53,799|
||||77,161|
## **Continuing operations**
All income and expenditure has arisen from continuing activities
6
## **SHREE LOHANA MAHAJAN LEICESTER CIO Statement of Financial Position as at 31 December 2023**
|**Notes**
**Fixed assets**
Tangible assets
11
**Current assets**
Amounts falling due within one year
12
Cash at bank and in hand
**Current liabilities**
Amounts falling due within one year
13
**Total assets less current liabilities**
**Net assets**
**Funds**
14
Unrestricted funds
Restricted funds
Unrestricted funds|**Unrestricted**
**funds**
**2023**
**£**
25,366
25,366
70,815
39,535
110,350
(5,280)
(5,280)
130,436
130,436|**Restricted**
**funds**
**2023**
**£**
-
-
12,091
12,091
-
12,091
12,091|**Total**
**funds**
**2023**
**£**
25,366
25,366
70,815
51,626
122,441
(5,280)
(5,280)
142,527
142,527
130,436
12,091
142,527|**Total**
**funds**
**2022**
**£**
15,587|
|---|---|---|---|---|
|||||15,587|
|||||7,551
59,939|
|||||67,490|
|||||(5,916)|
|||||(5,916)|
|||||77,161|
|||||77,161|
|||||66,900
10,261|
|||||77,161|
The financial statements on pages 6 to 12 were approved by the trustees on 19th May 2024 and signed on their behalf by:
Mr Prakash Bhojani Trustee
Mrs Nitiben Gheewala Trustee
7
**SHREE LOHANA MAHAJAN LEICESTER CIO Notes to the Accounts for the year ended 31 December 2023**
## **1 Summary of significant accounting policies**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **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
15% on reducing balance
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
8
## **SHREE LOHANA MAHAJAN LEICESTER CIO Notes to the Accounts for the year ended 31 December 2023**
|**2**
**Analysis of Charitable Income and expenditure**
**Donations & Legacies**
Membership Fees
Donations
Gift Aid
**3**
**Investment Income**
Bank deposit interest
**4**
**Income From Charitable Activities**
Other Income - Navratri
Social / Religious / Education
**5**
**Other Income**
Hall & Utensils Hire
Mahila Mandal Activities
Other Operating Income - LCC Grant
**6**
**Raising funds**
Staff Costs
Rent
Insurance
Light & Heat
Water rates
Cleaning
Postage, Stationery & Telephone
Sundry
Repairs & Renewals
Grocery & Sundries for Temple
Other - musicians, etc
**7**
**Charitable Activities Costs**
Navratri / Diwali / Gujarati Classes
Donations
**8**
**Other Expenses**
Bank charges
Legal & Professional Fees
Depreciation|**2023**
**2022**
**£**
**£**
-
-
109,489
79,563
10,923
6,828
120,412
86,391
-
-
-
-
13,680
9,239
55,044
27,750
68,724
36,989
43,745
47,215
-
-
-
2,667
43,745
49,882
97,825
84,128
1
1
6,478
5,935
12,255
10,650
2,963
3,417
2,935
3,860
5,854
5,662
-
963
9,795
10,773
10,208
9,746
-
-
148,314
135,135
15,214
12,809
500
506
15,714
13,315
582
388
258
50
4,477
2,751
5,317
3,189|
|---|---|
9
## **SHREE LOHANA MAHAJAN LEICESTER CIO Notes to the Accounts for the year ended 31 December 2023**
## **10 Average Number of Employees**
The average monthly number of employees during the year was as follows:
|Priests
Teachers
Other
No employees received emoluments in excess of £60,000.|**2023**
**2022**
2
2
7
7
7
7
16
16|
|---|---|
|**11**
Tangible Fixed Assets
**Cost**
At 1 January 2023
Additions
Disposals
At 31 December 2023
**Depreciation**
At 1 January 2023
Charge for the year
On disposals
At 31 December 2023
**Net book value**
At 31 December 2023
At 31 December 2022
**12**
**Debtors: Amounts Falling Due Within One Year**
Other Debtors
Trade Debtors|**Fixtures and**
**Total**
**Fittings**
**£**
**£**
30,672
30,672
14,256
14,256
-
-
44,928
44,928
15,085
15,085
4,477
4,477
-
-
19,562
19,562
25,366
25,366
15,587
15,587
**2023**
**2022**
**£**
**£**
61,207
1,856
9,608
5,695
70,815
7,551|
|---|---|
10
## **SHREE LOHANA MAHAJAN LEICESTER CIO Notes to the Accounts**
**for the year ended 31 December 2023**
## **13 Creditors: Amounts Falling Due Within One Year**
|Other Creditors
Trade creditors/accruals
**14**
**Movement In Funds**
**Unrestricted Funds**
General fund
**Restricted Funds**
Gauchara - Designated fund
**Total Funds**|**At 01.01.23**
66,900
10,261
77,161|**2023**
**2022**
**£**
**£**
93
107
5,187
5,809
5,280
5,916
**Net Incoming**
**Resources**
**At 31.12.23**
63,536
130,436
1,830
12,091
65,366
142,527|
|---|---|---|
## **15 Related Party Disclosures**
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Shree Lohana Mahajan Leicester CIO rented the entire building including all equipment, fixtures and fittings from The Leicester Mahajan Trust, an associated charity, at a peppercorn rent of £1 per annum.
## **16 Ornaments**
The mandir holds gold and silver ornaments donated to the value of approximately £1,000.
11
## **SHREE LOHANA MAHAJAN LEICESTER CIO Detailed Statement of Financial Activities for the year ended 31 December 2023**
|**Income & Endowments**
**Donations & Legacies**
Membership Fees
Donations
Gift Aid
**Investment Income**
Bank deposit interest
Rental income
**Income From Charitable Activities**
Other Income - Navratri
Social / Religious / Education
**Other Income**
Hall & Utensils Hire
Mahila Mandal Activities
Other Operating Income - LCC Grant
**Expenditure**
**Raising funds**
Staff Costs:
Wages & Salaries
Pensions
Temporary Staff
Employers NI
Rent
Insurance
Light & Heat
Water rates
Cleaning
Telephone and fax
Internet & Web Hosting
Postage, stationery and printing
Sundry
Repairs & Renewals
Grocery & Sundries for Temple
**Charitable Activities Costs**
Navratri / Diwali / Gujarati Classes
Donations
Travel & Subsistence
**Other Expenses**
Bank charges
Legal & Professional Fees
Depreciation - Fixtures & Fittings|**2023**
**£**
-
109,489
10,923
120,412
-
-
-
13,680
55,044
68,724
43,745
-
-
43,745
96,590
1,207
-
28
1
6,478
12,255
2,963
2,935
2,231
3,208
415
-
9,795
10,208
148,314
15,214
500
-
15,714
582
258
4,477
5,317|**2022**
**£**
-
79,563
6,828|
|---|---|---|
|||86,391|
|||-
-|
|||-|
|||9,239
27,750|
|||36,989|
|||47,215
-
2,667|
|||49,882|
|||82,899
991
195
43
1
5,935
10,650
3,417
3,860
2,239
3,250
173
963
10,773
9,746|
|||135,135|
|||12,809
506
-|
|||13,315|
|||388
50
2,751|
|||3,189|
12