REGISTERED COMPANY NUMBER: 11657377 (England and Wales) REGISTERED CHARITY NUMBER: 1200605
TRUSTEES' REPORT AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023
FOR
MAHAYOGI SIDDHABABA SPIRITUAL ACADEMY, UK
Forward Accountancy Services Limited 16 Beresford Square Woolwich London SE18 6AY
MAHAYOGI SIDDHABABA SPIRITUAL ACADEMY, UK
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 30 NOVEMBER 2023
| Page | |||
|---|---|---|---|
| Trustees' report | 1 | ||
| Independent examiner's report | 2 | ||
| Statement of financial activities | 3 | ||
| Balance sheet | 4 | ||
| Notes to the financial statements | 5 | to | 9 |
| Detailed statement of financial activities | 10 |
MAHAYOGI SIDDHABABA SPIRITUAL ACADEMY, UK
TRUSTEES' REPORT for the Year Ended 30 NOVEMBER 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 November 2023. The trustees have adopted the provisions of 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
Significant activities
To advance education for the public benefit in the practices of Himalayan Siddha Mahayoga and Meditation.
Structure, governance and management
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Reference and administrative details
Registered Company number
11657377 (England and Wales)
Registered Charity number
1200605
Registered office
57 Whitton Avenue East, Greenford, Middlesex UB6 0QB
Trustees
Mr G P Ghimire Cutomer Service
Independent Examiner
Mr Shekhar Sharma ACCA Forward Accountancy Services Limited 16 Beresford Square Woolwich London SE18 6AY
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 23 August 2024 and signed on its behalf by:
Mr G P Ghimire - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MAHAYOGI SIDDHABABA SPIRITUAL ACADEMY, UK
Independent examiner's report to the trustees of Mahayogi Siddhababa Spiritual Academy, UK ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 November 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Mr Shekhar Sharma ACCA
The Association of Chartered Certified Accountants
Forward Accountancy Services Limited 16 Beresford Square Woolwich London SE18 6AY
23 August 2024
Page 2
MAHAYOGI SIDDHABABA SPIRITUAL ACADEMY, UK
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 NOVEMBER 2023
| 30.11.23 | 30.11.22 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| Income and endowments from | |||||
| Donations and legacies | 63,608 | 19,006 | 82,614 | 22,533 | |
| Charitable activities | |||||
| Lottery Fund | 9,550 | - | 9,550 | - | |
| Total | 73,158 | 19,006 | 92,164 | 22,533 | |
| Expenditure on | |||||
| Raising funds | 2 | 1,287 | - | 1,287 | 443 |
| Charitable activities | |||||
| Lottery Fund | 1,516 | - | 1,516 | - | |
| Other | 33,350 | - | 33,350 | 17,465 | |
| Total | 36,153 | - | 36,153 | 17,908 | |
| NET INCOME | 37,005 | 19,006 | 56,011 | 4,625 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 43,109 | 2,250 | 45,359 | 40,734 | |
| Total funds carried forward | 80,114 | 21,256 | 101,370 | 45,359 |
The notes form part of these financial statements
Page 3
MAHAYOGI SIDDHABABA SPIRITUAL ACADEMY, UK
BALANCE SHEET 30 NOVEMBER 2023
| 30.11.23 | 30.11.22 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible assets | 8 | 1,134 | - | 1,134 | 154 |
| Current assets | |||||
| Stocks | 9 | - | - | - | 180 |
| Cash at bank and in hand | 78,929 | 21,256 | 100,185 | 45,025 | |
| 78,929 | 21,256 | 100,185 | 45,205 | ||
| Creditors | |||||
| Amounts falling due within one year | 10 | (100) | - | (100) | - |
| Net current assets | 78,829 | 21,256 | 100,085 | 45,205 | |
| Total assets less current liabilities | 79,963 | 21,256 | 101,219 | 45,359 | |
| NET ASSETS | 79,963 | 21,256 | 101,219 | 45,359 | |
| Funds | 11 | ||||
| Unrestricted funds | 79,963 | 43,109 | |||
| Restricted funds | 21,256 | 2,250 | |||
| Total funds | 101,219 | 45,359 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 23 August 2024 and were signed on its behalf by:
Mr G P Ghimire - Trustee
The notes form part of these financial statements
Page 4
MAHAYOGI SIDDHABABA SPIRITUAL ACADEMY, UK
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 30 NOVEMBER 2023
1. Accounting policies
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. 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 on an accruals basis 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, Fittings & Equipment - 25% on reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation 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. Raising funds
Raising donations and legacies
Support costs
| 30.11.23 | 30.11.22 |
|---|---|
| £ | £ |
| 1,107 | 52 |
Page 5
continued...
MAHAYOGI SIDDHABABA SPIRITUAL ACADEMY, UK
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 NOVEMBER 2023
3. Support costs
| Support costs | ||||
|---|---|---|---|---|
| Governance | ||||
| Management | Finance | costs | Totals | |
| £ | £ | £ | £ | |
| Raising donations and legacies | 515 | 492 | 100 | 1,107 |
4. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
| 30.11.23 | 30.11.22 | |
|---|---|---|
| £ | £ | |
| Independent Examiner's Fees | 100 | - |
| Depreciation - owned assets | 378 | 52 |
5. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 30 November 2023 nor for the year ended 30 November 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 November 2023 nor for the year ended 30 November 2022.
6.
Staff costs
The average monthly number of employees during the year was as follows:
7.
| 30.11.23 30.11.22 Average Employee 3 3 No employees received emoluments in excess of £60,000. Comparatives for the statement of financial activities Unrestricted Restricted Total fund fund funds £ £ £ Income and endowments from Donations and legacies 20,283 2,250 22,533 Expenditure on Raising funds 443 - 443 Other 17,465 - 17,465 Total 17,908 - 17,908 NET INCOME 2,375 2,250 4,625 Reconciliation of funds Total funds brought forward 40,734 - 40,734 Total funds carried forward 43,109 2,250 45,359 |
30.11.23 30.11.22 Average Employee 3 3 No employees received emoluments in excess of £60,000. Comparatives for the statement of financial activities Unrestricted Restricted Total fund fund funds £ £ £ Income and endowments from Donations and legacies 20,283 2,250 22,533 Expenditure on Raising funds 443 - 443 Other 17,465 - 17,465 Total 17,908 - 17,908 NET INCOME 2,375 2,250 4,625 Reconciliation of funds Total funds brought forward 40,734 - 40,734 Total funds carried forward 43,109 2,250 45,359 |
30.11.23 30.11.22 Average Employee 3 3 No employees received emoluments in excess of £60,000. Comparatives for the statement of financial activities Unrestricted Restricted Total fund fund funds £ £ £ Income and endowments from Donations and legacies 20,283 2,250 22,533 Expenditure on Raising funds 443 - 443 Other 17,465 - 17,465 Total 17,908 - 17,908 NET INCOME 2,375 2,250 4,625 Reconciliation of funds Total funds brought forward 40,734 - 40,734 Total funds carried forward 43,109 2,250 45,359 |
|---|---|---|
| 443 17,465 |
||
| 17,908 | ||
| 4,625 40,734 |
||
| 45,359 |
Page 6
continued...
MAHAYOGI SIDDHABABA SPIRITUAL ACADEMY, UK
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 NOVEMBER 2023
8. Tangible fixed assets
| Fixtures, | |||||
|---|---|---|---|---|---|
| Fittings | |||||
| & Equipment | |||||
| £ | |||||
| Cost | |||||
| At 1 December 2022 | 206 | ||||
| Additions | 1,358 | ||||
| At 30 November 2023 | 1,564 | ||||
| Depreciation | |||||
| At 1 December 2022 | 52 | ||||
| Charge for year | 378 | ||||
| At 30 November 2023 | 430 | ||||
| Net book value | |||||
| At 30 November 2023 | 1,134 | ||||
| At 30 November 2022 | 154 | ||||
| 9. | Stocks | ||||
| 30.11.23 | 30.11.22 | ||||
| £ | £ | ||||
| Stocks | - | 180 | |||
| 10. | Creditors: amounts falling due within one year | ||||
| 30.11.23 | 30.11.22 | ||||
| £ | £ | ||||
| Other Creditors | 100 | - | |||
| 11. | Movement in funds | ||||
| Net | |||||
| At | movement | At | |||
| 1.12.22 | in funds | 30.11.23 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 43,109 | 37,005 | 80,114 | ||
| Restricted funds | |||||
| Deposit | 2,250 | 19,006 | 21,256 | ||
| TOTAL FUNDS | 45,359 | 56,011 | 101,370 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 73,158 | (36,153) | 37,005 | ||
| Restricted funds | |||||
| Deposit | 19,006 | - | 19,006 | ||
| TOTAL FUNDS | 92,164 | (36,153) | 56,011 |
continued...
Page 7
MAHAYOGI SIDDHABABA SPIRITUAL ACADEMY, UK
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 NOVEMBER 2023
11. Movement in funds - continued
Comparatives for movement in funds
| Net | ||||
|---|---|---|---|---|
| At | movement | At | ||
| 1.12.21 | in funds | 30.11.22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 40,734 | 2,375 | 43,109 | |
| Restricted funds | ||||
| Deposit | - | 2,250 | 2,250 | |
| TOTAL FUNDS | 40,734 | 4,625 | 45,359 | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 20,283 | (17,908) | 2,375 | |
| Restricted funds | ||||
| Deposit | 2,250 | - | 2,250 | |
| TOTAL FUNDS | 22,533 | (17,908) | 4,625 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Deposit TOTAL FUNDS |
Net At movement At 1.12.21 in funds 30.11.23 £ £ £ 40,734 39,380 80,114 - 21,256 21,256 40,734 60,636 101,370 |
|---|---|
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 | 93,441 | (54,061) | 39,380 |
| Restricted funds | |||
| Deposit | 21,256 | - | 21,256 |
| TOTAL FUNDS | 114,697 | (54,061) | 60,636 |
continued...
Page 8
MAHAYOGI SIDDHABABA SPIRITUAL ACADEMY, UK
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 NOVEMBER 2023
12. Related party disclosures
There were no related party transactions for the year ended 30 November 2023.
Page 9
MAHAYOGI SIDDHABABA SPIRITUAL ACADEMY, UK
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 NOVEMBER 2023
| 30.11.23 | 30.11.22 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Contributions Receivable | 5,203 | 1,924 |
| Gifts, Dakshinas & Various Sewas | 27,835 | 8,743 |
| Various Events | 30,310 | 9,036 |
| Other Income | 260 | 580 |
| Investment Fund | 19,006 | 2,250 |
| 82,614 | 22,533 | |
| Charitable activities | ||
| Grants | 9,550 | - |
| Total incoming resources | 92,164 | 22,533 |
| Expenditure | ||
| Other trading activities | ||
| Opening stock | 180 | 571 |
| Closing stock | - | (180) |
| 180 | 391 | |
| Charitable activities | ||
| Charitable Activity | 1,516 | - |
| Other | ||
| Event Expenses | 19,730 | 7,543 |
| Gifts, Dakshinas & Various Sewas | 12,436 | 9,854 |
| Charitable Donations Earthquake | 670 | - |
| Sundries | 514 | 13 |
| 33,350 | 17,410 | |
| Support costs | ||
| Management | ||
| Advertising | 515 | - |
| Finance | ||
| Bank charges | 113 | 55 |
| Fixtures & Fittings | 379 | 52 |
| 492 | 107 | |
| Governance costs | ||
| Auditors' remuneration for non audit work | 100 | - |
| Total resources expended | 36,153 | 17,908 |
| Net income | 56,011 | 4,625 |
This page does not form part of the statutory financial statements
Page 10