2022-12-31-accounts - International Hindu Youth Forum

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International Hindu Youth Forum

Charity No. 1195147

Trustees' Report and Unaudited Accounts

31 December 2022

International Hindu Youth Forum Contents

	Pages
Trustees' Annual Report	2
Independent Examiner's Report	3
Statement of Financial Activities	4
Balance Sheet	5
Notes to the Accounts	6 to 10
Statement of Cash flows	11
Detailed Statement of Financial Activities	12

Page 1

Internatlonal Hlndu Youth Forum Tnistees Annual Report The tnJ5tees present thelr feport wlth the unaudlled flnanclal statements ol the tharfty for Ihe year ended 31 December 2022. REFERENCE AND ADMINISTRATIVE DETAILS Charlty No. 1195147 Trustees The followln8 trustees served durfn8 the year: A. &gllan Kandasamv T. Mohanarasa S. Sarvesvarakurukkal M. Shanmu8anathan A(ntants Flexl Financial ACcntants 250 Imperlal Drive HA2 7HI B•nkers Barthys Bank Pk Leicester Lelcestefshire LE87 2BB ststement of trustees, responslbllftles In relatlon to the flnandal slatements The tharity trvstees are responsible for preparing a trustees, annual report and financial statements In accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). The trustees are responsible for keeplng proper accounting records that disclose with reasonable accurw at any time the finanaal position of the charity and to enable them to ensure that the financial statements comply with the Charitie5 Act 2011. the applicable Charitles (Accounts and Reports) Regulations, and the provisions of the Trust dÈed. The Trustee5 are a150 responsible for 5afegu3rdin8 the asset5 of the charity and hence taking reasonable steps for the prevention and detectlon of fraud and other irregularities. 518ned on behalf of the charitys trustees S. Ganeshkumar TNstee 27 December 2023 cs 0 gcanned with Camscanner P#e• ?

International Hindu Youth Forum Independent Examiners Report

Independent Examiner's Report to the trustees of International Hindu Youth Forum

I report to the trustees on my examination of the financial statements of International Hindu Youth Forum for the year ended 31 December 2022.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's financial statements 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 can 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:

the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.

A Ajitkumar AFA Flexi Financial Accountant 250 Imperial Drive Harrow HA2 7HJ 27 December 2023

Page 3

International Hindu Youth Forum Statement of Financial Activities

for the year ended 31 December 2022

Unrestricted funds	Total funds	Total funds
2022	2022	2021
£	£	£

630	630	645
630	630	645

1,503	1,503	1,382
1,503	1,503	1,382
-	-	-
(873)	(873)	(737)
-	-	-
(873)	(873)	(737)

(873)	(873)	(737)

1,397	1,397	2,134
524	524	1,397

Page 4

kntsrn1llon Hlndu Y•tsth Fonmn Ch•th 1195147 2012 2021 C•5h ai bank and In hand 1.845 1.845 2,224 2,224 1827) 1.397 CThdllor5: Amouni lilhw due wlthln one year 514 Tot•1 4sMts l•ss n•bllttl 524 1.397 Plet Ms•ts pen%lon •sset 01 Illbllty 514 1,397 Totsl •ssets 524 1.397 Th• th• thaftty General fvnds 524 1,397 524 1.397 Total fvnds 524 1397 Apwoved ty the tnjslees on 27 Decembef 2023 And $18 their behaff ty: kumar Tee 27 December 2023 cs a Scanned with Camscanner

International Hindu Youth Forum Notes to the Accounts

for the year ended 31 December 2022

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 6

International Hindu Youth Forum Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 7

International Hindu Youth Forum Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 8

International Hindu Youth Forum

Notes to the Accounts

2 Statement of Financial Activities - prior year

Income and endowments from: Donations and legacies Total Expenditure on: Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Donations Margazhi Utsavam 4 Other expenditure Event expenses 5 Staff costs No employee received emoluments in excess of £60,000. 6 Creditors: amounts falling due within one year Accruals	Unrestricted £ 300 330 630 Unrestricted £ 1,503 1,503 2022 £	Unrestricted funds 2021 £ 645 645 1,382 1,382 (737) (737) (737) 2,134 1,397 Total 2022 £ 300 330 630 Total 2022 £ 1,503 1,503	Total funds 2021 £ 645
			645 1,382
			1,382
			(737)
			(737)
			(737) 2,134
			1,397
			Total 2021 £ 135 510
			645
			Total 2021 £ 1,382
			1,382
			2021 £
	1,321		827
	1,321		827

Page 9

International Hindu Youth Forum

Notes to the Accounts

7 Movement in funds

Incoming resources (including other gains/losses ) £ 630 630 Unrestricted funds £ 1,845 1,845 At 1 January 2022 £	Resources expended £ (1,503) (1,503) Restricted funds £ (1,321) (1,321) Cash flows £	At 31 December 2022 £ 524
		524
		Total £ 524
		524
		At 31 December 2022 £
2,224	(379)	1,845
2,224 2,224	(379) (379)	1,845
		1,845

Page 10

International Hindu Youth Forum Statement of Cash flows

for the year ended 31 December 2022

Cash flows from operating activities Net expenditure per Statement of Financial Activities Adjustments for: Increase in trade and other payables Net cash (used in)/provided by operating activities Net cash from investing activities Net cash from financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2022 £ (873) 494 (379) - - (379) 2,224 1,845	2021 £ (737) 827
		90
		-

		-

		90
		2,134
		2,224

Components of cash and cash equivalents
Cash and bank balances	1,845	2,224

	1,845	2,224

Page 11

International Hindu Youth Forum Detailed Statement of Financial Activities

for the year ended 31 December 2022

Income and endowments from: Donations and legacies Donations Margazhi Utsavam Total income and endowments Expenditure on: Other expenditure Event expenses Total of expenditure of other costs Total expenditure Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	Unrestricted funds 2022 £ 300 330 630 630 1,503 1,503 1,503 1,503 - (873) (873) - (873) 1,397 524	Total funds 2022 £ 300 330 630 630 1,503 1,503 1,503 1,503 - (873) (873) - (873) 1,397 524	Total funds 2021 £ 135 510
			645
			645 1,382
			1,382
			1,382
			1,382 -
			(737)
			(737) -
			(737)
			2,134
			1,397

Page 12