**REGISTERED CHARITY NUMBER: 1185740** **Report of the Trustees and** ## **Unaudited Financial Statements** **for the Year Ended 31 December 2022** **for** **Yog Foundation** KBMD Limited Chartered Certified Accountants Maple House 382 Kenton Road Harrow Middlesex HA3 9DP ## **Yog Foundation** ## **Contents of the Financial Statements for the year ended 31 December 2022** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|2| |**Independent Examiner's Report**||3|| |**Statement of Financial Activities**||4|| |**Statement of Financial Position**||5|| |**Notes to the Financial Statements**|6|to|9| |**Detailed Statement of Financial Activities**||10|| ## **Yog Foundation** ## **Report of the Trustees for the year ended 31 December 2022** The trustees present their report and financial statements for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, the Charities Act 2011 and "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 2019)". ## **OBJECTIVES AND ACTIVITIES** The charity's objectives are: 1) The advancement of the Vedic Dharma (religion) in accordance with the teachings of the Founding Member of Shree NarNarayan Dev Temple, Kalupur, Ahmedabad, India, and the promotion of the cultural, and spiritual and educational needs of the community. 2) To provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life. 3) To advance the education of the community by the establishment of centres and the provision of classes in languages, the Vedic Dharma, Yoga and IT. The policies adopted in furtherance of these objectives are as above and there has been no change in these during the year. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **FINANCIAL REVIEW** It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The charity is a charitable incorporated organisation (CIO). The trustees who served during the year and up to the date of signature of the financial statements were: Mr N R Hirani Mr B Pathak MBE Mr M K Chhabhadia Mr C Halai Mr P Bhudia Appointments of a trustee will be made by the Member from candidates recommended by the trustees of the Charity. None of the trustees has any beneficial interest in the charity. Page 1 ## **Yog Foundation** ## **Report of the Trustees for the year ended 31 December 2022** ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1185740 ## **Principal address** 53 Pickford Road Bexleyheath DA7 4AG ## **Trustees** Mr N R Hirani Mr B Pathak MBE Mr M K Chhabhadia Mr C Halai Mr P Bhudia ## **Independent Examiner** K. K. Patel, B.Com (Hons), FCCA, ARA KBMD Limited Chartered Certified Accountants Maple House 382 Kenton Road Harrow Middlesex HA3 9DP Approved by order of the board of trustees on 21/10/2023 and signed on its behalf by: Chetan Halai Trustee Page 2 IndepeJ)dent Examiner's Report to the Triistees of Yog f4oundAtIoii lii(leptii¢letil exAlliliiei"s rei)oi't to tlie tiwstees of Yog li I i*i)ori to the chJrity liustees on my ¢xaminatiun of Ihe accoiiii15 01- Yog Fouiidalion Ith¢ 'frust} for Ihe yeai. cndcd 31 Dcwmb¢r 2022. Resi)oiiyibililie5 and bHsi5 of i'ei)ort As lh¢ Lharit> tiusices ot. thL .1 rust yoii IYspotL%ibl¢ foi. the pyeparalion of the aCLouiils iii accordancc with Ihc IEquirenicnls ut'lhc Chai'iltLS Acl 2011 ¢ihe Act). I report in rospcGt Dlii)y cxaini*alion ofthe T1￿%1,% accouiits caii'icd out under Se¢iioth 145 of Ihe Aci and in Ldiyyiiig oul niy Lxaniination I have follthived all applicable Dii'LLiioiis given by the Charity Coi)Imis5ion ut]d¥i' Seriion 14515llbl of Iht Acl. lii(lepElllteiit eXAMi￿￿r,￿ 5tRttrnent L havc cornplelEd IKY rkaiiiiDaiion, I confiiyn Ih21 no maierial malleys have come to iny attentioii in Gonne¢tion with Ilie examinatio￿ grving mc Lviise 10 b¢li¢ve Ihal iji any Inaterial i'espect.. ccouniing Ircoimls weir not kcpt in respLLI ot the TI'LISI as itqYi￿d by Seciioii 130 ot the ALI,. ur Ihe aceounis do noi aLLoi6 iviih those record%. oi. Ihe &cEount5 do iiol tyomply wilh the applicable Èrqiiiirmcnt5 conLci'ning Ihe forin and conieni of aecouiils 5tt1 oul In IbL CliRestricted
fund
fund
Notes
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
224,200
-
Charitable activities
Support costs
100
-
Investment income
2
16
-
Total
224,316
-
EXPENDITURE ON
Charitable activities
Support costs
214,901
-
NET INCOME
9,415
-
RECONCILIATION OF FUNDS
Total funds brought forward
21,086
-
TOTAL FUNDS CARRIED FORWARD
30,501
-|31.12.22
Total
funds
£
224,200
100
16
224,316
214,901
9,415
21,086
30,501|31.12.21
Total
funds
£
36,012
-
-| |---|---|---| |||36,012| |||27,169| |||8,843
12,243| |||21,086| The notes form part of these financial statements Page 4 ## Yog Foundation ## Statement of Financial Position 31 December 2022 ||||||31.12.22|31.12.21| |---|---|---|---|---|---|---| ||||Unrestricted|Restricted|Total|Total| ||||fund|fund|funds|funds| ||Notes||£|£|£|£| |CURRENT ASSETS||||||| |Cash at bank|||31,611|-|31,611|22,142| |CREDITORS||||||| |Amounts falling due within one year||5|(1,110)|-|(1,110)|(1,056)| |NET CURRENT ASSETS|||30,501|-|30,501|21,086| |TOTAL ASSETS LESS CURRENT||||||| |LIABILITIES|||30,501|-|30,501|21,086| |NET ASSETS|||30,501|-|30,501|21,086| |FUNDS||6||||| |Unrestricted funds|||||30,501|21,086| |TOTAL FUNDS|||||30,501|21,086| The financial statements were approved by the Board of Trustees and authorised for issue on 23/10/2023 and were signed on its behalf by: Chetan Halai Trustee The notes form part of these financial statements Page 5 ## Yog Foundation ## Notes to the Financial Statements for the year ended 31 December 2022 ## 1. 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 2019)', 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 when paid 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. ## 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. ## 2. INVESTMENT INCOME |INVESTMENT INCOME||| |---|---|---| ||31.12.22|31.12.21| ||£|£| |Deposit account interest|16|-| ## 3. TRUSTEES' REMUNERATION AND BENEFITS There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021. ## Trustees' expenses There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021. Page 6 continued... ## Yog Foundation ## Notes to the Financial Statements - continued for the year ended 31 December 2022 |4.|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES||||| |---|---|---|---|---|---|---|---|---| |||Unrestricted|||Restricted|||Total| ||||fund||fund|||funds| |||||£||£||£| ||INCOME AND ENDOWMENTS FROM|||||||| ||Donations and legacies||36,012||||-|36,012| ||EXPENDITURE ON|||||||| ||Charitable activities|||||||| ||Support costs||27,169||||-|27,169| ||NET INCOME||8,843||||-|8,843| ||Transfers between funds||3,886||(3,886)|||-| ||Net movement in funds||12,729||(3,886)|||8,843| ||RECONCILIATION OF FUNDS|||||||| ||Total funds brought forward||8,357||3,886|||12,243| ||TOTAL FUNDS CARRIED FORWARD||21,086||||-|21,086| |5.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE|YEAR||||||| ||||||31.12.22|||31.12.21| ||||||£|||£| ||Other creditors||||1,110|||1,056| |6.|MOVEMENT IN FUNDS|||||||| ||||||Net|||| ||||||movement|||At| |||At 1.1.22|||in funds|||31.12.22| ||||£||£|||£| ||Unrestricted funds|||||||| ||General fund||21,086||9,415|||30,501| ||TOTAL FUNDS||21,086||9,415|||30,501| ||Net movement in funds, included in the above are as follows:|||||||| |||Incoming|||Resources|||Movement| |||resources|||expended|||in funds| ||||£||£|||£| ||Unrestricted funds|||||||| ||General fund|224,316|||(214,901)|||9,415| ||TOTAL FUNDS|224,316|||(214,901)|||9,415| continued... Page 7 ## Yog Foundation ## Notes to the Financial Statements - continued for the year ended 31 December 2022 ## 6. MOVEMENT IN FUNDS - continued Comparatives for movement in funds |||Net|Transfers|| |---|---|---|---|---| |||movement|between|At| ||At 1.1.21|in funds|funds|31.12.21| ||£|£|£|£| |Unrestricted funds||||| |General fund|8,357|8,843|3,886|21,086| |Restricted funds||||| |General fund 1|3,886|-|(3,886)|-| |TOTAL FUNDS|12,243|8,843|-|21,086| Comparative net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |Unrestricted funds|||| |General fund|36,012|(27,169)|8,843| |TOTAL FUNDS|36,012|(27,169)|8,843| A current year 12 months and prior year 12 months combined position is as follows: |||Net|Transfers|| |---|---|---|---|---| |||movement|between|At| ||At 1.1.21|in funds|funds|31.12.22| ||£|£|£|£| |Unrestricted funds||||| |General fund|8,357|18,258|3,886|30,501| |Restricted funds||||| |General fund 1|3,886|-|(3,886)|-| |TOTAL FUNDS|12,243|18,258|-|30,501| continued... Page 8 ## Yog Foundation ## Notes to the Financial Statements - continued ## for the year ended 31 December 2022 ## 6. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |Unrestricted funds|||| |General fund|260,328|(242,070)|18,258| |TOTAL FUNDS|260,328|(242,070)|18,258| ## 7. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2022. Page 9 ## Yog Foundation ## Detailed Statement of Financial Activities for the year ended 31 December 2022 |INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Investment income
Deposit account interest
Charitable activities
Grants
Total incoming resources
EXPENDITURE
Charitable activities
Insurance
Postage and stationery
Advertising
Sundries
Event cost
Travelling
Hall Hire
Charitable donations
Subscriptions
Repairs and renewals
Equipment cost
Paypal fees
Accountancy
Outings
Total resources expended
Net income|31.12.22
£
222,660
1,540
224,200
16
100
224,316
140
4,103
926
1,957
7,228
5,288
360
180,090
820
10,698
978
17
1,110
1,186
214,901
214,901
9,415|31.12.21
£
35,786
226| |---|---|---| |||36,012
-
-| |||36,012
140
179
2,973
1,029
9,104
1,307
1,713
3,413
616
2,065
3,550
24
1,056
-| |||27,169| |||27,169| |||8,843| This page does not form part of the statutory financial statements Page 10