REGISTERED NUMBER: 09732043 REGISTERED CHARITY NUMBER: 1182268 VENKATAKRUSHNA VRUNDAVANA VK LTD IA company limited by guarantee) REPORT AND UNAUDITED FINANOAL STATEMENTS YEAR ENDED 31 AUGUST 20Z3 'AC4RSA61* 1111
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VENKATAKRUSHNA VRUNDAVANA UK LTD FINANCIAL STATEMENTS AND TRusfEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2023 CONTENTS PAGE CONSTITUTIONAL AND ADMINISTRATIVE DETAILS TRUSTEES, REPORT INDEPENDENTEXAMINERS REPORT STATEMENT OF FINANCIAL ACTivmES 8ALANCE SHEET NOTESTO THE FINANCIALSTATEMENTS
VENKATAKRUSHNA VRUNDAVANA UK LTD CONsrrruTIONAL AND ADMINisfRATIVE DEfAILS FOR THE YEAR ENDED 31 AUGusf 2023 Charity Name VENKATAKRUSHNA VRUNDAVANA UK LTD Charity Registration Number 1182268 Company Re8lStration Number 09732043 Reglstered address 36 Station Grove. Wembley HAO 4AL Bankers State Bank of India 15 King5 Street London EC2V 8EA Independent Examlner Vaishnavi R No 7 Winkworth Place Banstead 5M72AA Board of Trustees The Trustees. who a also d1CtOrS of the company. serving during the year were as follows.. Sri Sri Sugunendra Theertha Svramiji Mr Keshav Thukaram Mr Yogeendra Bhat Uli Mr Pra5anna Maniyoor Govinda Mr Ramachandra Bala Subramanya Mr Sudhir Laxman Shetty
VENKATAKRUSHNA VRUNDAVANA UK LTD TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGusf 2023 The Trustees, who are also directors of Venk3t3krushna Vrundavana UK Ltd for the purposes of the Companies Act, present their annual report together with financial statements for the year ended 31 Au8L15t 2023. Structure, Governance and Management The charity was incorporated on 29th February 2019 as a company limited by guarantee (number 097320431, and as such has no share capital. The CoMpanS activities are governed by its Memorandum and Articles of A550ciation dated 29th Febnjary 2019. Objective of the Charity and Principal activit The object of the charity is the advancement of the Hindu faith for the benefrt of the public in particular but without prejudice to the generality of the foregoing by.. Establishing. maintaining. and supporting a plats of public worship for followers of the Hindu faith and in particular the Dvaita philosophy Advancing and teaching the religious tenets. doctrines. observation5, and culture associated with the Hindu faith, in particular the Dvaita philosophy The principal activity of the charity is to the offer the general public the opportunity to learn about the Dvaita philosophy. Through the teachings of the Sanskrit texts and prayers. the charity provide5 the opportunity to learn about the history, ethical and moral framework. This will be delivered by educating and providing them information and showing practices of Dvaita faith. Rlsk Revlew The TrustÈÈs have established systems to rdenttfy. monitor. and review the major operational and business risks which the charity faces and have established systems to ensure they appropriately mitigate them. The Trustees monitor intemal financial controls. procedures. and risk management. COVID-19 At this point in time it is not possible to fvlly consider the impacts arising from COVID-19, however the trustees have considered the possible risks and have put in place measures to maintain income 3rtd reduce future expenditure if required. The position will be kept under constant review and the trustees will as required take necessary steps to ensure the fund continues as a going concern. ACTIVITIES DURING 2022-2023 We are reaching a wider audience through virtual events. and we are happy to note that online events such as Gita chanting, webinars on variou5 toprcs of theological interest are continuing to elicit a favourable response. We are also continuing to service the community through the presence of our full-time priest who carries Out various dharmic pujas and celebrations for the Hindu community. We would also like to place on record the valuable time and seNice offered by the many volunteers without whom none of these activities could have been carried out successfully.
VENKATAKRUSHNA VRUNDAVANA UK LTD TRusfEES' REPORT FOR THE YEAR ENDED 31 AUGusf 2023 FUTURE PL4NS In keeping with the core mission of the Charity, the future plans of the mutt include online Veda chanting and Bhagavad Gita classes. These have already commenced in and there has been great support for this initiative. Various regular homas and poojas wll be conducted at the Mutt. We would like to establish a transactiortal website and create a monthly newsletter for the Mutt $0 devotees can keep up with regLtlar update5 on the activitie5 of the Mutt. We are enlistinE the support of various volunteers to a$51St with these initiatwes. We plan to establish satellite branches in Leeds and Manchester as there is a strong following forthe Hindu faith in those areas. We also hope to move to larger, more permanent premises to service the needs of the community which is growing. The plan is to conduct regular classes on Yog3, meditation, Bhagavad Gita lectures and Satsangs to ensure the continuity of the spread of the knowledge of the Hindu Dvaita philosophy. We have taken a loan from our establishment in USA to assist in procurement of a permanent premises in the UK to continue rendering service to the community. Financial Review The charity received income of £218.305 in the year to 31 August 202312022.. 146.2861. The overall surplus for the year wa5 £122.68312022.. £104.3441. Reserves Poliry Currently there are no reserves policy in place. The Trustees will review this in the coming financial year and hope to develop a reserves policy that will ensure the financial stability of the charity for the future. The charity has built up a modest reserve of £23S,947. TRUSTEES. RESPONSIBILMES The Trustees are responsible for preparing the Trustees, Report and the finan¢tal statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepting Accounting Practi¢el including FRS 102. Company law requires the Trustees to prepaTe financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that year. In preparing those financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent,. state whether applicable UK Accounting Stondards have been followed. subject to any material departures disclosed and explained in the financial statements.. and, prepare the financial statements on the going concem basis unless it is inappropriate to presume that the hafltable company wll continue in operation. The Trustees are responble for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply wth the Companie5 Act 2006. They are also responsible for safeguarding the a55ets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
VENKATAKRUSH14A VRUNDAVAIIA UK LTD TrUSTE£S' REPORT FOR THE YEAR ENDED 31 AUGusf 2023 The Trustees are resrthsible for the maintenance and integrityof the corwat and finandal iThfomiatlon Included on the charitable Compan(swete. Legistation in the Untted Kin8dom goveffli the preparation and dissemlnatl¢Jth of fihaftcial ststements fftaydiffer from leg4sFatr"on in other Julisdirtions. Independent exarnlner Vaishnavi R was appointed the independent examiner dIng thèyear and will be proposed for re- appolniment in &cordante w6th sectlon 485 of the Compaw P£t 21YJ6. This report has bepn prepared In accordanrth the spla1 pr(y•isior6 for small companies ¥ndersertion 477 of the Companies Act 2LYI&. Apyo¥ed by the IrtI and Its beh by. Mr yo8t1rd elt Ull Dal•: JI j•wl024
VENKATAKRUSHNA VRUNDAVANA UK LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF VENKATAKRUSHNA VRUNDAVANA UK LIMThED I report on the financial statement5 of Venkatakrushna Vrundavana UK Mited for the year ended 31 Aueust 2023, which are set out on pa8es 6 to 11. Respective respsIbIltieS of trustees and examlner The trvstees Iwho are also the directors Df the company for the purpose5 of company lawl are responsible for the preparation of the linantial statements in accordance with the QuireMents of the Companie5 Act 2LK161'the 2006 ACVI. Hawng 53tisf5ed myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the chariW5 financial statement5 as carried ot under section 145 of the Charities Act 2011 Ithe 2011 Actl. In carryin8 Out my examination I have followed the Directlons given by the Chanty Commission under settion 145lbl of the 2011 Act. This report, including my ststement. has been prepared for and onty for the charitvs trustees as a body. My work has been undertaken so thai I might state to the charitys trustees those matters l am reqLtired to state to them in an independent exarninerfs report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charitV5 trustees as a boo* for my examination work, for thSs report, or for the statements I have made. Basis of independent examlnerfs report My examination was carried out in a¢¢ordance with the general Direttions given bythe Charity Commission. An examination includes a review ol the accountin8 record5 kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unvsual iterns or disclosures in the financial statements and seeking explanations from you as trustees concerning any Such matters. The procedures undertaken do not provide all the evidence thai would be requireil in an audit, and consequenyy no opinion is given as to whether the financial statements present a 'true and fair Vie and the report is lirnited to those matters set out in the statement below. Independent examinerfs statement In connection with rny examination. which 15 complete. rrfj matters have come to my attentlon which gNe me reasonable cause to believe that in any material respect.. accounting records were not kept in respect of Venkatakrv5hna Vrundavana UK Limited in accordance with section 386 of the 2006 Act- or the financial statements do not accord with those records- or the financial statements do not complywrf(h the accounting requirements of seCtn 396 01 the 2C Att other than any requirement that the firiancial statements give a'true and faif. view which is not a matter considered as part ol an Fndependent examination: or the finantial statements have not been prepared in accordance with the methods and principals of the Statement of Recommended Practice for accounting and reporting by charities applicable io charities preparin£ their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I hav atten no concerns and have come across no other matters in connection with the examination to which. in my opinion, on sh Id be drawn in order to enable a proper understandin8 of the financial statements to be reached. Vals avi Ra8havendar No 7 Wlnk worth Place. SM7 IAA Date.. 11 January 2024
VENKATAKRUSHNA VRUNDAVANA UK LIMThED srATEMENT OF FINANCIAL AcrIvrriES (Incorporating the Income and Expenditure Account) FOR THE YEAR ENDED 31 AUGusf 2023 2023 Total 2022 Totsl Income Donation5 218.305 146,286 Totsl income 218.305 146,286 ExpendIre Charitable activities 95,622 41.942 Total expenditure 95.622 41,942 Net income for the year 122.683 104,344 Reconciliation of funds Funds brought forward at I September 2022 Funds carried forward at 31 August 2023 113,263 8,919 235.946 113.263 All of the above results are derived from continuing activities and all amounts relate to unrestricted funds in both the current and prior year. There are no other recognised gains or losses for the year other than as included above.
VENKATAKRUSHNA VRUNDAVAMA UK UMrrED COMPANY NUMBER 09732043 Notes 2022 CuTr¢nt xsets Depostt C15h at bank and tn hand 659.067 113.263 739m7 113,263 Credknrs current asSetsl(lbthlI¢$D Iletassets 235.947 IA4263 Funds: Unrestrirted Intome fund5 235.947 113.263 Totsl fund5 235,9•7 113,263 For the year ended 31 August 2023. the ciMTrpany wasentitled to exernmion from audit under sectTrDn 477 of the Companles £t 2006 rdatingto small companies. The mernbers have Mt requiredtt companyto olrtw an audit a¢cordanceryth section 476 ofthe Comparaes Art 2006. The directors atkn¢Mledee their rè5pon5ibilltyforcrryliBWlth the requirementsofthe Act resped to accountln8 reccffds andtt YeparaD of accounts. These accounts have been prepared in arcwdance writh the wovtssons of c(wnpanies gjbjertto the small companies. re£ime. The financial statements on pa8es 6 to 11 were appred by theTrustee5 and aukn5ed for i55ue on 18 Ixober 2022 and slgned on their behalfty. Mr Y¢wndr4 tshat UJI Trustee
VENKATAKRUSHNA VRUNDAVANA UK UMIfED NOTES TO THE FINANCIAL StATEMEPITS FOR THE YEAR ENDED 31 AUGusf 2023 ACCOUNTING POLlaES The financial statements have been prepared in accordance with applicable kcounting Standards in the United Kingdom. A summary of the more important policies is set out below. Basis of accounting The finanaal statements have been prepared under the historical cost convention and in accordance with the provisions ofthe CompaniesAct 2(KJ6 and in compliance with the Statement of Recommended Practice.. Accounting and Reportbng by Charities SORP 2015 {FRS 1021 and applTrcable UK Atcounting Standards. A cash-flow statement has not been prepared because the charity is a small charity and is therefore exempt from the requirement to prepare a cash-flow statement. The company was incorporated on 13 August 2017 and was converted to a charitable company on 29 February 2019. The trusteÈs confimi that they consider Ét is appropriate for these financial statements to be prepared on the going concern basis. The trustees have the continued SLtpport of the Puthi8e Mutt, Udupi. Both sources of income and types of experbditure have been reviewed. Whilst one of the main charitable purposes of the Fund is to support the maintenance of place of public worship for followers of the Hindu faith. the level of this necessary expenditure is at the discretion of the trustees and can be adjusted during the year. The trustees have also considered the ChariVs working capital and Capital expenditure requirements. A5 a result of the foregoing the trustees are satisfied that it is appropriate to prepare the accounts on a going concem basis. bl Income All income is included in the Statement of Financial Actiwties when the charitable company is entitled to the income and the amount can be quantified with reasonable accuraLy. The following specific policies a applied to particular categories of income.. Voluntary income by way of donations and gifts are included in full in the Statement of Financial Actiwties when receivable. Eyp*Kliture Expenditure is included in the Statement of Financial Activities on a cash basis, inclusive of any VATwhich cannot be recovered. Charitable expen(liture comprises those costs incurred by the charitable company in the delivery of its actNities for its beneficiaries and comprises both the direct Costs and support costs relating to those 3ctNities. Governance costs irtclude those tosts associated with meeting the constitutional and statutory requirements of the charitable company and include independent examinerfs and audit fees and costs linked to the strategic management of the charitsble company. All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity comprise both costs that can be allocated directly to such actiwties and those costs of an indirect nature necessary to support them.
VEt4KATAKRUSHNA VRUNDAVANA UK LIMITED NOTES TO THE FINANCIAL sfATEMENrs FOR THE YEAR ENDED 31 AUGUST 2023 dl Unrestrirted funds Unrestricted funds are donations and other income ceivable, or generated forthe objert5 of the charity, thout further specified purpose and are available as general funds. Designated funds DÈsignatod funds are unrestricted funds earmarked by the Trustees for particular purposes. fl Restricted fund5 Where income is received for purposes specified by the (lonor or by the terms of the appeal under which it was raised, that income is shown as restricted in the Statement of Financial Activities. Expenditure for the specified purposes are shown as restrirted expenditure. Any unexpended balance is carried forward as restricted income funds. Deferred income Deferred income comprises amount5 granted in advance on projects where it 15 clear from the tems under which the funds are received that they cannot be used until future years or there are pre-condition5 to entitlement which have not yet been met. h) Taxation As a charitable company, Venkatakrushna Vnjndavana UK Ltd is exempt from tax on income and gains falling within sectton 478 of the Taxes Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charge5 have arisen within the charitable company. Voluntary Income 2023 Totsl 2022 Total UnreKricted Restricted Donations 218.305 218.305 218,305 218.305 146,286 146.286
veNKATAKRUSHNA VRUNDAVANA UK LIMITED NOTES TO THE FINANCIAL sfATEMEKrs FOR THE YEAR ENDED 31 AUGU 2023 Creditors: 2022 Loan from Sujnana Religious and Charitable Foundation 50a.119 503,119 Reconciliation of movements in fd$ Atl September 2022 Income Expenditure At31 August 2023 Unrestrirted lunds General Funds 113,263 218,305 95,622 235.946 Tax status As a charitable company. Venkatakrushna Vrundavana UK Ltd is exempt from tax on income and gains falling within Section 478 of the Taxes Act 2010 or Section 256 of the Taxation of Chargeable Gain5 Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen within the charitable company. Truste remuneratlon No Trustee received any remuneration for their services or expenses during the current or prior year. I staff has been employed this year. Rèlatèd party transactions No trustee or any other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the yeaT12022- NILI. Post balance sheet events No significant events to report. io