REGISTERED CHARITY NUMIIER.. 2UO109 ()RT nF THE TRUSTEES AND AUDITLD FifNAP4CIAL S'I-ATIMENTS FOR THE YEAR F.NDED 31 DECF.MBER 2023 FOR THE RAMAKRISHNA iir.DANTA CEIYTRF. Tej sai.an Bsc IHoiis) FCA Managing Director Accumen Busine53 Con5ultancJ l.iiiiilrd Coventry Univei'siiy Technolog). Park Puina Way CovLiiti'v West Midlaiids CV12"1-"1 THE RAMAKRISHNA VF.DANTA CENTIITr- C.ONTF.NI'S OF TIIF. FIYI ANC-IAL 8T,ITEMF.NTS FOR TFIE YEAR ENDED 31 DF.CF.MBEII 2023 Page Reference and Administrative Dttails Report of the Trustees Statement of Tru$tees' RespvTrsKbilities Report of the Independent Auditors Statemellt of Financial Attivities Balance Sheet Noie5 to the Financial Statcrneiits Detailed Statement of Financial Activities THE RAMAKRISHNA VEDANTA CENTRE REFERFNCE AND ADMINISTRATII'F IIE-fAILS FOR Tllf YEAR ENDF.D JI DECEMBE1< 2023 Tnistees Rev S Sarvasihan2Lnd' after the pandeEnic ai)d the illonks wei'e able to continue t(} proinutc VLdcll)l'l Mi. S (Jl)osh IVice-Presidentl Mrj Wilco I r V Bhalt MrRDa5 Dr U Vajpci Ms J A Power V S Aliuiiiuld Mr H K 8liah Deeeased l?Oth March 2023) Recruitment aiid appointment of new trustees The In￿nbel5 of the Board of Truste¢s are appoiiit¢d froin among the n)einbei's ol. Ihe Cenrie and hold oificc tor Il)reL cars. Ai Ihe end of this pei'iod ilie Inembers of the Cenire elect a neiv Board an ilie aiinual Éjeiiei'al Imeetiiig. Orgaiiisatioiial structure D7￿ N, to dal. Inano¢i ¢lnClil uf th¢ charity 15 tak-¢ii oli by Ilir Bultrd uf 1-riisiees a ivholL. THE RAMAKR15HNA Vb.DANTA CENTRF REPORT OF THF TRLSTEF.S FOR THE YEAR CNDED 31 Df.CELMDER 202J STRUCTURE, GOVERNANCE AND MANAC.F.MENT Title of Lgnd and Buildings -I'he lolloitriiig7 Ti'ustees hold title tu the freehold land and buildinbys h¢longin¥ to tlic cliarity.. Rev S Sarvasthananda Rev s ghtvarupanonda Mr S Gliosli Apprnved by order of the l)osrd of trustees on )0 O¢iobcr ?0?4 and sioiied VTI ils b¢hdifby'. Rev S Sarvasthananda (Chaiiinanl - Trustee THE RAMAKRI.SHNA VF.DAIN'TA CENTRE "I"A I'EM ENT OF TRIISTEF.S' RESPOJSIBI I.ITI F.5 THF. VF.AR E.XDED31 DECF.MBER 2023 The tru5tct$ are ttspon5iblr fur preparing IlTre Repoi1 of tl)e -l-ru%tees ai)d the financial siateinenis in accni'da11cc I￿1117 applicable law 2nd United Kingdom Accounting Siaiidards {lJnited Kin¥(loin GenLrally Accepied Accoiinting Prc2¢1icel. Tlie la14, applicable to charities iii Enbland and Wales. tlie Charities Act ?01 l. Cllic rill, IAccoLlllts a11d KLI)111l_%1 Applititlion of resources. ineludin linaiicial statcineiits, the trustees are rcquired lo select suitable accnunritig policies and then applv them consiqt¢nil>': abserve the methods and principl¢s in tlie Cliaril* SORP: niak'¢ judgeiiienis and esrimatcs that arc reasonable aiid pi'udent.. slate whether applicable accounting Standards have been follov'ed. subject io any Inal¢ricl1 dLparturLs disclosed and explained iii the financial slat¢ments', preparc Ilie linciiicial statein¢nt5 011 Ihe ¥Toing conLeTn basi5 unless li is inappropriate tn piesiiinL Iliai the clidrili. i%'ill continue in business. 'l-lie iriigtecs are r¢sponsible for keepii)g prop¢r accouiitiilg IfLI)rds w'liicli dlsclose k¥'ith iiasonable 1( ccul'aci. ai di)!. tllni. the financial posilTon of the charity and lo enable Ihein lo ensure that tlie finciiicial slat¢incnts cninply ivith Ihe Cliai'iiies Att ?Q I I, the Lharit), IAcc(Junts ai)d Rcp011sI Regulatinii£ 7008 and the provisioi)s vf the Irusl deLd. -l-hei arL' also resp01151ble for safeguardiiig Ihe asseis of the chaTlty ai)d Iieiicc for t&kiii8 reasoiiablc Sleps foi. Il)e preveniioii aiid detection of fraud and othcr irregularities. REP RT OF THE INDFPIYDF,NT AI,'DITORS TO TI.IE TRLSTEkb OF THE RAMAKRISIINA VFDANTA CF.N pinioii We Iiave audited tlie finaiicial statements of Tl)e Ramakrishi)a Vedanta Centre Iilic 'ch Iriiv'l ft)r the endc(I J l L)eceiiiber 10?J which conipTi8e the St2£ lemcnt ol. kinaiicicTrl A¢livitie%. Ilic Bal¢lnCL SIILLI. IIIL Ciis11 1-.loii SiiilLIiiiIiI (UIiiiLd Kingdoin Gen¢rally A¢c¢pt¢d AcLoiiniing Praclicel. In our opinion the financial stsiements.. ivc a tru¢ and fair vicw of ilir sldi¢ vf the cliarli) s affairs a5 at J l L)¢ccinber ?O?i and of its incoiniiig resources aiid application of resources, for tl)e year then ciided., have been properly prepared in accordance ￿1th United kin.doim G¢iieially Aicepied ALcountingi I'ractice.. aiid hjve beeii prepared in 4¢¢01'dL)n¢¢ willi tli¢ r¢quii¢iii¢iilb ufili¢ ChariTiCS Aci ?V I I Basis for tspijiion Wc conduclcd our audir in accordance with International StaiTrdards oli Audilin(p IUKI IISAS IUKII aiid ii Pl?liLablL laii. Oui- responsibilities undei. those staiidards air further described in the Auditors, re%pon5ibiliiiLs lui. tlie udii of Ilie finaiicial 5tatcii)enis seciion of our report. We are independent of ihe chariiv ii) accoi'danc¢ w'iih th¢ ciliical I'cquireineiit% (hai are relevi]% ?008 rL(iuii'es us to repori to j'ou if. iii oui. opinioii.. Llir iiifuiin(iiion given In Ilie Report ot Ihe -l-rustees is inconsistent in an}, malerial respect wilh Ihe fiiiaiiLi(Il siaienienis. or sufficiei)t accouniinu recoi'ds have iiot beeii kepi.. or the financial Sliiteincnrs al-e not iii agi-eenienl i%'iili ihe accouniing records and returns: or li'c have not receiv¢d all the inforiiiaiion and e.Iplanatioiis we require for our 7¢ udii. REPORT OF THE 1NDEPE￿￿f.NT AI,'DITORS-I() TIIF. I'RU%TF.b-% OF THE RAMAKRI.SHSA VF rNT121". Re5pon5ibililie5 of trustees As explained more lull}, in the Stateinent of Trustees, Responsibilities. the Iruslecs ar¢ re5poii%iblL foi. Ilie piep¢lfdllllTI iTrI the linaiicial statements which Iyive a true and lair view. ai)d for such iiiiei'iial Control as Ilie ii'usiees dLiei'iiiiiit I ur crror. In pieparin¥ the financial siateineiits. Ilie trustees are iespon%ible fuT assessi￿￿7 tlie cliaril} S bility to cui?tiiiue ils Lt oiiccn). di5cIos111¥, d5 4ipplicablc, Inaiicrs related to Lioingi conc¢rii nd usiiibj the Lioinbi concci-n bli %is ul. a¢¥oLiiTrIiii& unless the trustees either intend to liquidaie (he chari15' nr rease opei'ationg. OT liave no reali. so. tic all￿rnatiVe bill lo dv ()ur responsibilitie5 for th¢ audit of the fijiancial slatemeNt5 We hdve been appoinred as auditors under Sectioi) 144 of tlie Charities Aci ?0 I l aiid repon in aLcnrdic nce willi ihe Aci aiid relevant regjijlaiions Inadc or liaviiibT effect Ilici'elli)dei'. 'itlI ISAS (IJK) will dlwavs deieci a material misstateineni when ir exists. Mis%taten)enls can ariso froni trdud ui. L'ri'oi. and are considered material if. individually or in the a(Tureo8ie_ the}r could re2s0n3bly be eNpcct¢d to iiifliiL Trcc tIIi cconoinic decisions of user5 taken on the basi5 of tliese fiiiancial siaieinenis. .xient to which the audit was considered capabl¢ of deiccting irreg>ularilies. iiicludinLJ fi'aiid.. 'ith oiir responsibilities, outlined above £iiid on the Finallcial Reportiiik Couiicil's website. tts deteci iillssi&iicmei)Is iii respect ot i￿e￿illIarities, including fraud. We obtain and update our understanding of the eniil),. its activities, its conirol ¢nviroiiTii¢ni. and likeli. luture dcvclijpiiiLiils, iiiiludin&T in relaiion 10 Ihe legal and regulatorw fraiMeH'ork applicable and liow Il)e ciiriii. is ioiiipli iiil ith tliat frainework. Based on this undcrstandini. finaiicial statcn)en15, Ivhciher due to fraud or L'n-or. desib711 and perforin audit pi'oceduTes re%pvn5ive tn th(i.qc I'i%k%. pro¢edures which included.. Enouiry of management AnA thoge charsed with 8ov¢rnan¢e ai'ound oetual aiid Polciitial Iiiiiydiiuii dllLI Ll' in England and Wales. Tlic chLirit) S priiicipal addre55 is Blind Laiie. Boiirne Eiid. Buckii)gFI)anisl)ir¢. SL8 5L.F. Th¢ linancial stateinenis have b¢¢ii piepar¢(l in slerliiigj. which is the functional currency of the charilv. MoiiLll) lii doiiations r¢c¢iv¢d under Gift Aid ui- deeds ol'covenaiit is iecoLiiiised ai tlie iiii)e of Ehe don￿lI10n. ainount is kno￿. aiid r¢r¢TPt IJ ¢XP¢Ctcd. If th¢ aimouiit i) iivl kiivwii, Ilit leiJacN' is Iiedied a.4 a conlingieiit d%%Lt. xpenijiture Liabilitie% are re.r.ngnised #s expenditur¢ as soon as tl)ere is o l¢¥ttl or consti-uctive obliiidlivii Luininiiiiiii Il)e charitjll to that expenditure, it is probable that a traiisfei. of ¢conon)IL bciiefiis ￿.1]1 be required iii .%eiilcineiii iiiiil Ili¥ amouni afThe obligatioii can be itteasured reli£ibl¥. E.xp¢ndiiL1￿ is acLouiiicd IVT 011 7£ 11 £llLI'llcils b7￿ %is aii(I IILIS bccn classified under lieadiiigTS Iliat a￿regate iL11 cosi rclaled 10 thc caiegoi'i.. Where L()SlS CcTrnii()I bL dir¥LII attributed io particular headings they have been allocated io activities on a basis consisteni WTth Ilie use ot- resoiirces. Tangible fixed assets r)ppre¢iation ts providod at the following annual ratc3 in order to wiite OIT ri1ili i155i1 uver lis esiiinaied ti%eful Freehold property Fixtures and fillings Motoi- vehicl¢s Cotiipuiei- equipineni 200/0 oil reducii)¥ balancl. ?.f 0/0 on reducii)b balance ?OO/o on reduciiio balaiice Tansible fJx¢d a33Ct3 are initially iiiea5llird dl LUSI and subsequenil), Ineasured at cust or valuation. i)ei ol. d¢preciaiivii and any iinpairment losses. riain or loss ari$in8 on the disposal of ali as5¢t 15 dct¢rmined a5 thc ditlLI ellLr b¢iii'¥Ln rlie Scile pi'oLeeds an(1 Ilie eanytnsi value of the asset. artd is re¢obiiiscd iii IILI Iiicoiii¢( THE RAMAKRI%Hf4JA VEDANTA CENTRF. NO-rb.s "1"() 'I'HE FINANC.IAL STA TE.M r.INT.% - ri)Iilinued FnR THF YEAR INDED 31 DECEMBF.R 2023 ACCOUNTING POLICIES- Continued Tangible fixed asse15 Fixcd asset investments ri¥ed £15sei inve5tiiicnis are iiiiiially Ineasured ai transaction pi'ice ¢xcluditiLT IransL2Clivn cost%. and Lire subsequenilN' Ineasiii¢d ai Inid price5 a5 per report% from investcc - iiidependLni fiiiid iiiaiiag*ei'.Transaclioii cc)%15 re e.xpensed as iiicurrcd. linpiiirineiil of fixed assets recoverdble amount of the ass¢t is cstimated in ord¢T to dei¢rinine ihe cxreni of the impairineni los% lif <111>.). Stocks Siocks are statcd at te lower of cosi and estiinaied selling pricc less costs to coiiipleit £iiid _%ell. Cu%1 ci)i1)iiri￿..% dircci Ilidterials and. ￿h¢1't applicable. direci laboui. costs and Ihn%p Clverheads Iliat liave beoii siiciii'i'id Iii bringing the sio¢Ls to ihcir present location and condition. lis held foi. di%tributioii ar 110 ()r Iioiniiidl coii%iderilliOII arc iiioasur¢d the lo¥ver uf i¢pluccii)¢ni tV51 aiid ¥vhl. Net I'calisable value is tlic esiiin(It¢d selling price less all estiinated costs of coinplction and co%ts to bL i1iLUI'I'Ld in marketing. selling and disiributioii. Taxation l-he chai'itv is exempt froin tax on its charitable activities. ruiid aLLviirilin Unrcsiricied funds can be used in yccordance iviih Ihe cliai'irii hlv ￿￿1￿CliveS at IliL' discreiioii i)t ihe Ii-IlSlLL.'; Desiginaied funds are unrcsiricttd funds iwl)icli tlie Li USieL'% liave chosei) 511clI I'ui)ds tn bL Litriiidl'kL(I l()r %i)LLiI li purposc. R¢siricied funds can only be used for particular restrtcted putposes wiihin the objects of lh¢ chariry. Res11'iviivii aris¢ when specified by thc donor or when flinds are raised for particular restricted purposls. Further explanation of the nature and piirpose of each fund ig includod in the notcs to tlie financial siat¥lTlflliS. Financial Instruments Issues of F RS I O? to all of its financial iii.%truinent.%. riiiancial instruments are recognised in the charity's bi£lance sheet ii'lien the ¢liarit)' bccoines i)arri' io thc contractual provisions of the instrun)ent. d l¥¥(illy ¢'nforceable right to 5¢t ott- Ihe I'ccoiynised aniouiits and ihere is ali inteniioii io %ctile on nei l)<1S1% Iir I BiJsi¢ fLnancial #35et3 B&iSiC finanLial assets, which include debtors and cash and bank baliiiice%. ale initlAllv IMeasui'L.d al tr:Insailioii method unless the arraHgemeni constitures a finan¢inb traiisactioii. iili¢re tlie Ihe Ircll)saciion is Ineasured ￿11 Ilie preseni value of ihe future receip15 discoiinied al a Imarkei rate of inteiest. Fiiiaiicial assLtS Llas5ili¢il £l rec¢ivable iyithin on¢ year are not amoftised. Basic financial liabilities Ihe Arran.￿￿eM¢nt constitutes a fiiianciiig Iraiisactinn. whpie the debt insiruinent is mca" the future pa￿cl1t ts discounted at a Inarkei rate of Interest. Financial liabilitics cla55ificd pajablc ii-iiliiii oiiL vear are not amortiscd. 12 THE RAMAKRISHNA VEDANTA CENTRE NOTES TO THE FINANCIAL STATEMF.NTS- eoiitiiiued FOR THE YEAR ENDED 31 DECLMH￿.m 2V23 ACCOUNTING POLICIES- contiiiued Fiii#ncig1 instruments Debt instruments are 5ub%equently carried at ainortised cos1. US11)D the effectivc inierest I'aie n)¢iliod. Tiad¢ Lrediiors are obligatiuiis to pa), lor gTroods or sei'vic¢5 Ihai hdvc bei'n acqiiired ii) Ihe oi'dii)dl'lJ COllI-SL ()I' operaiions from suppliers. Ainounls payahle r.ligssificd as eui'renl liabililiL'S if Pd¥'iiient 15 duL Il'ltlITn onc i¢io I price and subsequtiitly IJie*￿￿[ed ai aiiioii15cd ¢osi u5ino tlie ettective iiiieTes1 Ineiliod. DereLv¥nitioii of fin2n¢i#l liabilities F In(Iiicial liabilities ￿.¢ dcrecobjiiised wlicn ihe cliariij s conti'actual ubliLiaiiOllS e.xpire ui. are (lischari)ed 01- cancellcd. CRITICAL AC.fniiNTINC JUDCEMENTS AND KEY 40URCLS or ES'fiMATION IJNCERTAINTY In Ihc applicailon of ihe Cliarit￿.$ dccouiitin(7 policies, Ihe ti'usiee5 are required to lll¢ike jUdi￿Li71e77t5.e¥Iin)i1ieX