Docusign Envelope ID: 4223B860-5527-498D-BCEF-35B3294EAA11
Charity registration number:1178957
Param Shakti Peeth of UK
Annual Report and Financial Statements
for the Year Ended 31 March 2024
Docusign Envelope ID: 4223B860-5527-498D-BCEF-35B3294EAA11
Param Shakti Peeth of UK
Contents (continued)
| Trustees' Report | 1 to 3 |
|---|---|
| Statement of Trustees' Responsibilities | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 12 |
Docusign Envelope ID: 4223B860-5527-498D-BCEF-35B3294EAA11
Param Shakti Peeth of UK
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2024.
Objectives and activities
Objects and aims
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The advancement of education of children from disadvantaged background.
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The advancement of vocational education of abused women.
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The advancement of religions and religious harmony.
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The advancement of meditation techniques.
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The advancement of responsible citizenship & community development.
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Encourage community volunteering.
The Charity aims to promote religious harmony through seminars which promote tolerance and community cohesion. Stress and mental health management through spiritual discourses. Primary aims is to bring communities together and address common challenges faced in everyday life.
Objectives, strategies and activities
Trustees have been involved in promoting values of responsible citizenship through UK Parliament Week activities.
‘SEWA’ selfless service remains the cornerstone of Param Shakti Peeth of UK’ (PSP of UK) s activities. Volunteering at community events, food banks and local parks projects. Lonely elderly citizens are disadvantaged; PSP of UK volunteers talk to isolated seniors to improve wellbeing.
In India, over 2500 marginalised vulnerable children have benefitted from the formal education, 3500 community women and young girls have been provided vocational training. At our centres, 110 mentally and physically challenged children are lovingly provided education specially catered for their needs. At our Eye Camps over 10,000 community members of all faiths are provided the gift of sight.
Fundraising disclosures
Volunteers For any charity volunteers are the life and blood. We wish thank all volunteers who work tirelessly to uplift lives of the needy.
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Docusign Envelope ID: 4223B860-5527-498D-BCEF-35B3294EAA11
Param Shakti Peeth of UK
Trustees' Report (continued)
Public benefit
Working with Jain Hindu Organ Donation, PSP of UK promoted the value of organ donation and during a Hindu festival. The need in the community and family to have conversations about organ donation was emphasised.
PSP of UK continues to support activities of Metropolitan Police Hindu Association.
Promoting the values of Organ Donation remains a strong area of public benefit for PSP of UK. During the year, working with National Health Service Blood and Transplant (NHSBT) and Jain Hindu Organ Donation (JHOD) we held two events at community venues to bring awareness about the ‘opt-out’ system for organ donation and the need in the community and family to have conversations about organ donation. Local Member of Parliament attended our event and supported PSP of UK’s Organ Donation drive.
PSP of UK registered for the UK Parliament Week an initiative of UK Parliament Education and Engagement. This encourages participation and engagement in democracy at all levels.
Working with Metropolitan Police Hindu Association we can learn about the Counter Terrorism Policing and how the public can contribute to averting potential terrorist attack by reporting suspicious activity.
The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011, and Financial Reporting Standard 102 Section 1A, to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
The annual report was approved by the trustees of the charity on 3 January 2025 and signed on its behalf by:
......................................... Mr Rajnikant Champaklal Jani Trustee
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Docusign Envelope ID: 4223B860-5527-498D-BCEF-35B3294EAA11
Param Shakti Peeth of UK
Trustees' Report (continued)
Structure, governance and management
Nature of governing document
The Charity is a trust and operates within the scope of the governing document.
The Trustees have worked with a commitee of suitably qualified volunteers and acknowledge their support.
Recruitment and appointment of trustees
The Charity continues to search for appointment of appropriately qualified new trustees who have commitmen, drive and passion for the objectives stated.
Arrangements for setting key management personnel remuneration
It is the policy of the Charity not to remunerate trustees. Trustees may not claim out of pocket expenses.
Organisational structure
The Charity operates with the help of the following core commitee members, with their respective responsibilities:
Jawaharbhai Patel..........................community relations Shashikantbhai Patel......................community relations Prerit Souda....................................technical support Kaushal Tripathi.............................technical support Kartikeya Rajput...........................social media Vijyaben Dave................................community relations
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Docusign Envelope ID: 4223B860-5527-498D-BCEF-35B3294EAA11
Param Shakti Peeth of UK
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial 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 these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on 3 January 2025 and signed on its behalf by:
......................................... Mr Rajnikant Champaklal Jani Trustee
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Docusign Envelope ID: 4223B860-5527-498D-BCEF-35B3294EAA11
Param Shakti Peeth of UK
Independent Examiner's Report to the trustees of Param Shakti Peeth of UK
I report to the trustees on my examination of the accounts of Param Shakti Peeth of UK for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity trustees of Param Shakti Peeth of UK you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Param Shakti Peeth of UK's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of Param Shakti Peeth of UK as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Hitesh V Gadhia BSc, BFP, FCA Chartered Accountant Institute of Chartered Accountants in England and Wales
43 Manchester Street London United Kingdom W1U 7LP
3 January 2025
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Docusign Envelope ID: 4223B860-5527-498D-BCEF-35B3294EAA11
Param Shakti Peeth of UK
Statement of Financial Activities for the Year Ended 31 March 2024
| Note Income and Endowments from: Donations and legacies Investment income 3 Total income Expenditure on: Charitable activities Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward Note Income and Endowments from: Donations and legacies Total income Expenditure on: Charitable activities Other expenditure 5 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ 30,846 51 30,897 (23,423) (23,423) 7,474 7,474 29,870 37,344 Unrestricted funds £ 11,477 11,477 (285) 1 (284) 11,193 11,193 18,678 29,871 |
Total 2024 £ 30,846 51 |
|---|---|---|
| 30,897 | ||
| (23,423) | ||
| (23,423) | ||
| 7,474 | ||
| 7,474 29,870 |
||
| 37,344 | ||
| Total 2023 £ 11,477 |
||
| 11,477 | ||
| (285) 1 |
||
| (284) | ||
| 11,193 | ||
| 11,193 18,678 |
||
| 29,871 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note .
The notes on pages 8 to 12 form an integral part of these financial statements. Page 6
Docusign Envelope ID: 4223B860-5527-498D-BCEF-35B3294EAA11
Param Shakti Peeth of UK
(Registration number: 1178957) Balance Sheet as at 31 March 2024
| Note Current assets Cash at bank and in hand 10 Creditors: Amounts falling due within one year Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds |
2024 £ 37,344 - 37,344 37,344 37,344 |
2023 £ 29,870 1 |
|---|---|---|
| 29,871 | ||
| 29,871 | ||
| 29,871 |
The financial statements on pages 6 to 12 were approved by the trustees, and authorised for issue on 3 January 2025 and signed on their behalf by:
......................................... ......................................... ......................................... Mr Ramaniklal Patel Dr Harsha Rajnikant Jani Mr Rajnikant Champaklal Jani Trustee Trustee Trustee
The notes on pages 8 to 12 form an integral part of these financial statements. Page 7
Docusign Envelope ID: 4223B860-5527-498D-BCEF-35B3294EAA11
Param Shakti Peeth of UK
Notes to the Financial Statements for the Year Ended 31 March 2024
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Param Shakti Peeth of UK meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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Docusign Envelope ID: 4223B860-5527-498D-BCEF-35B3294EAA11
Param Shakti Peeth of UK
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
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Docusign Envelope ID: 4223B860-5527-498D-BCEF-35B3294EAA11
Param Shakti Peeth of UK
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
Derivative financial instruments
The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
2 Income from donations and legacies
| Donations and legacies; Donations from individuals Total for 2024 Total for 2023 |
Unrestricted funds General £ 30,846 30,846 11,477 |
Total funds £ 30,846 |
|---|---|---|
| 30,846 | ||
| 11,477 |
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Docusign Envelope ID: 4223B860-5527-498D-BCEF-35B3294EAA11
Param Shakti Peeth of UK
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
3 Investment income
| Interest receivable and similar income; Interest receivable on bank deposits Total for 2024 4 Expenditure on charitable activities Note The advancement of education Governance costs Total for 2024 Total for 2023 5 Other expenditure Note Total for 2024 Total for 2023 |
Unrestricted funds General £ 51 51 Unrestricted funds General £ 23,122 301 23,423 285 Unrestricted funds General £ - (1) |
Total funds £ 51 |
|---|---|---|
| 51 | ||
| Total funds £ 23,122 301 |
||
| 23,423 | ||
| 285 | ||
| Total expenditure £ Total funds £ - |
||
| (1) |
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Docusign Envelope ID: 4223B860-5527-498D-BCEF-35B3294EAA11
Param Shakti Peeth of UK
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
6 Analysis of governance and support costs
Governance costs
| Other governance costs Allocated support costs Total for 2024 Total for 2023 |
Unrestricted funds General £ 76 225 301 285 |
Total funds £ 76 225 |
|---|---|---|
| 301 | ||
| 285 |
7 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
8 Independent examiner's remuneration
The independent examiner has waived his remuneration.
9 Taxation
The trustees consider the charity is exempt from taxation.
10 Cash and cash equivalents
| Cash at bank | 2024 £ 37,344 |
2023 £ 29,870 |
|---|---|---|
11 Related party transactions
There were no related party transactions in the year.
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