COMPANY REGISTRATION NUMBER: 11035535 SWAMINARAYAN SPORTS WORLD Company Limited by Guarantee Unaudited Financial Statements 31 March 2024 MIN PAT Accountants 334 - 336 Goswell Road London EC1V 7RP
SWAMINARAYAN SPORTS WORLD Company Llmltsd by Guarantee Financial Stataments Year ended 31 March 2024 Contsnts Page Trustees, report Statement of income and retained earnings Statement of financial position Notes to the financial statements The followlng pages do not form part of the financlal slatsments Accountants report to the board of directors on the preparalion of the unaudited statutory financial statements Detailed income ststement 10 Notes to the detailed income statement 11
Page 1 SWAMINARAYAN SPORTS WORLD Company Limited by Guarantse Tru8tee3' Report Year ended 31 March 2024 The trustees present their report and the unaudited financial statements of the company for the year ended 31 March 2024. Tru81ee8 Th8 trustees who $eNed the company during the year were as follows.. Mr B.R. Hirani Mr M.K. Hiranl Mr P.B. Korat Mr J.H. Patel Mr B.S. Patel Small Company provislon• This report has been prepared in 8c¢oidance with the provlsions applicable to companies enb'lled lo the small compani8s exemption. This r8POrt was approved by the board of directors on 24 October 2024 and signed on behalf of the board by". Mr B.R, Hiranl Trustee Mr M.K. Hirani Tru¥tee Mr P.B. Kola Trustee Mr J.H. Patèl Trustee Mr B.S. Patel Trustee Registered offe.. 334 - 336 Goswell Road London EC1V7RP
Page 2 SWAMINARAYAN SPORTS WORLD Company Llmlted by Guarantee Stst•ment of Income and R•tainod Earnings Year ended 31 March 2024 2024 2023 Note Tumover 62A73 29,027 Gro•s profit 52,473 29,027 Adminlstralive expenses Opfrrallng proflVIIos8) 27,538 24.935 31,302 {2,275) Other interest ¢tiVable and similar income ProflVIIo•8) boloro taxatlon 24,935 {2,270) Tax on profivllossl ProflUllo••) lor th• Ilnanclal y•ar and total comprehonllve Income 24,935 (2,2701 R•talned 1088a8 at th• Start thè yaar R•t•lned eamInglI0•10•) at tho •nd ol th• yoar 15,0221 19,913 12,7S21 (5,0221 All the acllvrtles ol the company a from continuing operations. Th• notos on pag¢$ IS to 7 forni part ofthese flnanc5al statrmgnty.
Page 3 SWAMINARAYAN SPORTS WORLD Company Limited by Guarant•• Statement of Flnancial Posltlon 31 March 2024 2024 2023 Not Flxed assets Tangible a$sels 1,685,640 1,685,640 Current as89ts Cash at bank and in hand 35,274 10,339 10,339 1,695,979 Net ¢urrenl a880ts 35.274 T¢)tal 48sots IM• current Ilabllltles 1,720.914 Cr•dltor8: amounts falllng due aftor more than on• year Not I88etl11ab1I1t1eg 1,701,001 19,913 1.701,001 {5,0221 C•plt•l •nd re••rv•• Profrt and1058 account 19,913 19,913 {5,0221 {5,0221 Member• fund•lldofl¢tt) These financial statsments have been prepared in xcordance wrth the provisions applicable to companie5 subject to the small companies, regime and In accordance with Section 1A of FRS 102 'Th8 FinanGial Reporting Stsndard applicable in the UK and Republic of Ireland,. For the year ending 31 March 2024 the company was entitled to exemption from audit under sects'on 477 of the Companies Act 20C6 reLgtsng to small companles. Directors, spOnSIbl11t1eS'. The members have not required the company lo oblaln an audit of its financial statèmènts for the year in question in accordance with seclk¢n 476", The directors acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records and the preparation of fi'nancial slaternenls. The statement of financial position continues on the following page. Tho notes on pages 5 to 7 form p•rt ofth•so flnanclal statemerrts.
Page 4 SWAMINARAYAN SPORTS WORLD Company Limitsd by Guarantee Statement of Financial Position (c<tInUed) 31 March 2024 These financial stal8ments wer8 approved by the board of directors and authorised ft>r issue on 24 October 2024, and are signed on behalf of the board by.. Mr B.R. Hirani Tnjstee Mr M.K. Hirani Trustee Mr P.B. Korat Trustee Mr J.H. Patel TNst•e Mr B.S. Patel Trustee Company registratK•n number.. 11035535 The not•M on pages S to 7 fomi part of these flnanclal statoments.
Page 6 SWAMINARAYAN SPORTS WORLD Company Limited by Guarantee Notes to the Financial Statsments Year ended 31 March 2024 G•neral Infomiatlon The company is a private non profil making company limited by guarantee, registered in England and Wales. The addr8ss of the registered office is 334 - 336 Goswell Road, London. EC1V 7RP. stst•mont of ¢ompllance These financial statements have been prepared in compliance wth Secb'on 1A of FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republ of Iland,. Accountlng poli¢le• Basls of prep•ratlon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment propert5 measured al fair value through profit or loss. The financial statements are prepared in sterllng, which is the functional currency of the entity. Rev•nu• rocognltlon Turnover is rneasud at the fair value of the consideration ce1ved or receivable ft)r good5 supplied and services ndered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when thè significant risks and rewards of ownership have transferred lo th& buyer lusually on despatch of the goods)., the amount of revenue can be measured reliably,. il is probable that the associated economic benefits will flow to the enbty., and the costs incurred or to be incurred in respect of the transactions can be measured rellably. Tangibl• 4$8et• Tangible as5els are inhially recorded at cost. and subsffjuenUy staled at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at valued amounts are recorded al the falr value at the date of revaluation less any subsequent accumulated depreciation and subsequent a¢¢umuSated impairment losses. An increase in the carrying amount of an asset as a result of a ValUatIon, is recognised in other comprehensive income and acGumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously reGognised in profit or los$. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revalUatn de¢rea5e exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profil or loss. Impaimient of Ilxed assets A review for indiGators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly_ Prior impairments are also reviewed for possible reversal at each reporting dale.
Page 6 SWAMINARAYAN SPORTS WORLD Company Limited by Guarantse Not•s to th• Flnancial Ststement8 (conllnu•dJ Yoar ended 31 March 2024 Accountlng pollclo8 {¢oniinu•dJ Impairment of flxed assets (eonllnu•dJ For the purposes of impairment lesling, when rt is not possible lo estimate the recoverabie amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unit lo which the asset belong5. The cash-generalin9 unil is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or group5 of assets. For impairment lestlng of goodwlll, the goodwill acquired in a business coMbinan is. from the acquisition date, allocated lo each of the cash-generaling units that are expected lo benefit from the synergies of the comblnation, irrespectlve of whether other assets or liabilrties of the Company are assigned lo those uftils. Fln•nclal In•trnment8 A financial asset or a financlal Ilablllty is recognised only when the company becomes a paty to the contractual provi$lons of the Instrument. Bas fi'nancial inslrumenlg are initially recogniged at the transaction prth. unless the arrangement constitutes a financing Iransaclion. where11 is recognised at the PSent value of the future payments dlscounted al a market rate of intere81 for a simllar debt instrument. Debt inslrumenls are subsequently measured at amortised cost. Wh8ffj investments In non<onvertibl8 preference shares and non*uttable ordinary shares or preference shares a publlcly traded or their fair value can otherwise be meaSUd reliably, the investment is subsequently measured at fair value wth changes in falr value recognised in profil or loss. All other such Inve$lmen15 are subsequenlty measured at cost less Impairment. Other financial Inslrumenls, includin9 derivatsves, are Inibally reGognlsed at falr value, unless payment for an asset is d&feried beyond normal business terms or linanced al a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payrnenls dlscounled al a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, wth any change5 recognised in profil or loss, with the exception of hedging instruments in 8 designated hedging relationship. Financial assets that are measured at cost or amortised Cost are reviewed for objective evidence of impairment al the end of each reporting date. If there is objeGbve evidence of impairmgnt, an impairment loss is recognised in profft or loss immediately. For all equlty instruments regardless of significance, and other flnancial assets that are individually Significant, these a assessed individually lor impairment. Other financial assets a either assessed individually or grouped on the basis of similar Credit risk chara¢lerisb"¢s. Any reversa15 of impairrnenl are recognised in profit or loss Immediately, to the extent that the reversal rjoes not ff5Utt in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not preV&SIY bean re¢ognised.
Page 7 SWAMINARAYAN SPORTS WORLD Company Limited by Guarant•• Notes to the Financial Statsments (contlnuodj Year ended 31 Mar¢h 2024 Company Ilmlted by guaranteo During the year the Guarantors were were Mr B.R. Hirani, Mr M.K. Hirani, Mr P.B. Korat, Mr J.H. Patel and Mr B.S. Patel. Each holding a guarantee of £10. Other Intsre¥t recolvable and simllar Incom• 2024 2023 Inlaresl on cash and cash equivalents Tanglble as80ts Land and Fixtures and buildings fittings Total Cost At 1 Aprll 2023 and 31 Mar¢h 2024 Depreclatlon At 1 Aprll 2023 and 31 March 2024 Carrylng amount At 31 March 2024 1,678,407 7,233 1,685,640 1,678,407 1,678,407 7,233 7,233 1,885,640 1,685,640 At 31 March 2023 Credttorn: amounts falllng due after rnore th•n one year 2024 2023 Other creditors 1,701,001 1.701.001 Shree Kutch Satsang Swamlnarayan Temple (Registored Charity No 2956551 have gNen interest free loan of £1,701,001, of which Nil 12023 £70,000) was repaid during the year. The balance outstanding and the year end was £1.701.001.
Pag• 8 SWAMINARAYAN SPORTS WORLD Company Llmlted by Guarante• Management Informatlon Year ond•d 31 March 2024 Th• followlng pagm do not form p•rt of th• Ilnanclal •tat•m•nt•.
Page 9 SWAMINARAYAN SPORTS WORLD Company Limited by Guarantee Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of SWAMINARAYAN SPORTS WORLD Year endod 31 March 2024 As described on the statement of financial posib'on, the trustees of the company are responsible for the preparation of the ftnancial statements for the year ended 31 March 2024. vlhic comprise the slalement of income and retained eamings, slalement of fi'nancial position and the re led notes. You consider that the Company Is exempt from an audlt under the Companies Act 200 order to 898181 you m infonnallon and In accordance with your instructions we have cornpiled these financial statements ' lo fulfil your statutory responsibilities, from the accounting records and explanations Supplied to us. AMIN SHAH LTD nts 334 - 336 Goswell Road Lontjon ECIV 7RP un 24 October 2024
Page 10 SWAMINARAYAN SPORTS WORLD Detailed Income Statement Year ended 31 March 2024 2024 2023 Turnov•r Donatsons Hire I rent received HMRC Gifta 8.330 43,730 2,413 52N73 29.027 29.027 Gr0•8 prollt 52,473 29.027 Ovorheads Admlnlstratlve expgns Rent ral85 and water Light and heat Insurance Repairs and maintenance Travelling expenses Telephone and intem&t expenses Sundry expenses Bank charges and Interest Professional fees 3,212 5,503 1,202 6,100 8.092 3.106 2.515 13.586 522 582 613 149 4,157 31.302 876 659 88 10,764 27,538 Operallng proflUIIo811 24,935 12,2751 Olh8r interest re1Vable and similar income Prof1tlll8) b•foT8 laxatlon 24,935 12,270}
Page 11 SWAMINARAYAN SPORTS WORLD Note8 to the Datailod InGom• Statsment Year ended 31 March 2024 2024 2023 Other Int•rn8t rncolvablo and slmllar Income Interest on sh and cash equivalents