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2021-12-31-accounts

REGISTERED CHARITY NUMBER: 252726

SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)

REPORT OF THE TRUSTEES AND

AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Albury Associates Limited Chartered Accountants & Statutory Auditor 2nd Floor, One Hobbs House, Harrovian Business Village Bessborough Road Harrow Middlesex HA1 3EX

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SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. 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 Summary of activities

The UK registered charity, Maninagar Shree Swaminarayan Gadi Sansthan - Shree Swaminarayan Sidhant Sajivan Mandal (SSSSM) London, is one of the UK centres of Maninagar Shree Swaminarayan Gadi Sansthan, the worldwide centre for spiritual, cultural and social progress. SSSSM operates under the name, Shree Swaminarayan Mandir Kingsbury - its de facto operational headquarters. Further information about the worldwide Organisation is found on www.SwaminarayanGadi.com.

For the first half of 2021, major restrictions still had to be imposed due to the COVID-19 pandemic. The activities of the Mandir remained restricted for a large proportion of the year, and then were gradually resumed as the restrictions were lifted. For the first half of the year, activities were held where possible online, to align with the Mandal's objectives of promoting the Swaminarayan Faith, cultural and social development, physical, mental, emotional and spiritual health and well-being, and charitable causes. An overview of the activities and special events that took place during 2021, are given below, and more details are available from the website, www.SwaminarayanGadi.com/London

Overview

The activities that were able to take place throughout the year included:

Educational: For the majority of the year, Gujarati language classes took place online. Spiritual: For the majority of the year, religious education classes and scripture recitals, took place online. Cultural: For the majority of the year, classical music lessons, classical and contemporary dance classes took place online. Social: For the majority of the year, daily congregations took place online to sustain the sense of community. Charity: Food and essential items were collected and distributed to NHS trusts and local food banks, and blood donation sessions continued throughout the year.

Sports: Sports activities gradually resumed in the latter part of the year, after the lockdown conditions eased.

Special events of 2021

While the temple remained largely closed due to lockdown restrictions, a combination of a very limited number of physical events, coupled with online events, enabled the Mandal to continue to delivery its objectives.

Throughout the year, assemblies took place online, which continued to engage members of all ages to enable them to gain an understanding of various aspects of the religion, philosophy and history, and retain their sense of community and identity.

January

Shree Swaminarayan Mandir Kingsbury - First Hindu Temple Covid Vaccination Centre.

The Mandir community is extremely proud that in loving memory of our beloved Acharya Swamishree Maharaj, and under the inspiration of Acharya Shree Jitendriyapriyadasji Swamiji Maharaj, we became the first Mandir in Europe to open a Covid vaccination centre. Over 40,000 members of the general public were vaccinated in this centre. A large number of Mandir volunteers were involved in the set-up and running of this centre. Through this covid vaccination centre, the Indian and Asian community were encouraged to take up vaccines at a time when there was significant hesitancy in our community.

Additionally, the Mandir raised substantial funds, which were used to establish vaccination centres, food banks and other initiatives in India - delivered to the front lines through the Mandirs of Maninagar Shree Swaminarayan Gadi Sansthan. This entire endeavour was dedicated in memory of Ved Ratna Acharya Swamishree Maharaj.

Support to the NHS

Over 5000 hot meals were delivered to front line NHS staff by the Mandir at the height of the pandemic, and thousands of essential items were distributed to those in most acute need during the depth of the lockdown.

February

The covid vaccination centre brought a lot of interest from the media and also prominent figures, who came to visit, including the Mayor of London Sadiq Khan, and NHS's Chief People Officer Prerana Issar.

March and July

Blood donation sessions were held twice during the year. The need for blood donations was particularly acute during the pandemic, and so this essential activity was more important than ever. The session was also a fitting tribute to the late Acharya Swamishree Maharaj, whose charitable legacy remains strong through such initiatives.

Page 1

SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

March and July – continued

During May 2021, a request was received from Maninagar Shree Swaminarayan Gadi Sansthan, the umbrella organisation based in India, for a donation to support their endeavours to combat Covid-19 in a number of locations in India. On the back of this request, The Trustees organised a collection for this purpose and managed to raise £119,988 which was promptly donated.

August

Remembrance Assembly for Acharya Swamishree Maharaj

Thursday 5th August 2021 marked precisely one year, since Ved Ratna Acharya Swamishree Maharaj departed from this Earth. At Shree Swaminarayan Mandir Kingsbury, a special evening of devotional music to reminisce about Acharya Swamishree Maharaj's divine life episodes and celebrate His truly profound legacy was held online.

Seventh Anniversary Celebrations

One of the Mandal's most important occasions was the 7th Anniversary of Shree Swaminarayan Mandir Kingsbury, celebrated on Sunday 22nd August 2021. While the Mandir remained open all day for the community to come and have darshan of the Lord, the anniversary rituals and ceremony was largely viewed online.

Shree Muktajeevan Swamibapa Pipe Band Launched Inaugural London Interfaith Run

The inaugural London Interfaith Fun Run took place on the August Bank Holiday (Monday 30th August) at the Stone X Stadium in Copthall, London. This event was supported by the Greater London Lieutenancy's Council on Faith and was attended by Sir Kenneth Olisa, Lord-Lieutenant of Greater London.

November

Diwali and New Year

The Diwali and Hindu New Year festival was celebrated once again in-person, albeit in a much more controlled manner using a ticket booking system to prevent over-crowding. Members of the Mandal and the general public visited the Mandir for the Lord's darshan amidst a wonderful Annakut food offering placed before the Lord.

Acharya Swamiji Maharaj's Inaugural Overseas Vicharan Commences in London

His Divine Holiness Acharya Shree Jitendriyapriya Swamiji Maharaj arrived in London on Saturday 20th November to commence His first overseas vicharan since taking the helm as Acharya of Shree Swaminarayan Gadi.

December

Ved Ratna Acharya Swamishree Maharaj's Asthi Suman Visarjan

The rituals to scatter the divine Asthi Suman (divine ashes) of beloved Ved Ratna Acharya Swamishree Maharaj took place on Saturday 4 December 2021. Acharya Shree Jitendriyapriya Swamiji Maharaj performed the ceremonies and then scattered the divine ashes into the River Thames, in the same location of Richmond where the sacred ashes of Gurudev Swamibapa were also scattered in 1979.

FINANCIAL REVIEW

Principal funding sources

Apart from the income generated by Donations, the principal funding sources for the Charity are currently by way of Darshan, Aarti, Thar, Diwali and Ankot.

Charity's funds are being used in the short term for the running of the Temple activities, together with improving the facilities of the Temple, hence assisting in the furtherance of the Charity and supporting its key objectives.

Transactions and Financial Position

The financial statements are set out on pages 6 to 14. The financial statements 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. As stated in the introduction to this report, the trustees consider the financial performance by the charity during the year to have been satisfactory.

The Statement of Consolidated Financial Activities show net income for the year of £1,054,794 (2020: £767,415) the total reserves at the year-end stand at £26,791,485 (2020: £25,736,691).

Page 2

SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

FINANCIAL REVIEW

Reserves policy

The Trustees and Management Committee have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ('free reserves') held by the charity should be between 9 to 12 months of the annual resources expended, this equates to approximately £250,000 in general funds: At this Ievel, the Trustees and Management Committee feel that they would be able to continue current activities of the charity, yet at the same time, establish contingency plans to ensure that the charity remains in operation for the foreseeable future.

Based on the future plans as detailed below, the Trustees and Management committee feel that there are sufficient funds available to meet the anticipated activities in the coming year.

In order to reduce the risk of over expenditure, procedures for authorisation of all transactions and projects exist. To further mitigate the risks, the Trustees and Management Committee will carry out periodic reviews of the progress of the objectives stated.

FUTURE PLANS

The Trustees are looking forward to further enhancing the social, spiritual and religious aspects of the Charitable Organisation. This will enable members and attendees to continue to strive on the platform established to date.

The Trustees consider it of paramount importance to ensure that cash flow is managed to enable the day-to-day activities of the Mandir to continue without any risk of curtailment. To this extent, the Charitable Organisation has acquired land in Jubilee Close, which is adjacent to the Temple Complex. The trustees continue to explore options to secure additional income to further enhance the objects of the Charitable Organisation.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Organisational structure

The UK registered charity, Maninagar Shree Swaminarayan Gadi Sansthan - Shree Swaminarayan Sidhant Sajivan Mandal London, one of the UK centres of Maninagar Shree Swaminarayan Gadi Sansthan, the worldwide centre for spiritual, cultural and social welfare. Further information about the worldwide Organisation is found on www.SwaminarayanGadi.com.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

252726

Principal address

Shree Swaminarayan Mandir Shree Muktajeevan Swamibapa Complex Kingsbury Road Kingsbury London NW9 8AQ

Trustees

Mr Ashok Velji Patel (President) Mr Mahesh Premji Varsani (Secretary) Mr Laxmidas Premji Dabasia (Treasurer)

The Management Committee

Mr Parbat Kanji Bhudia (Resigned on 28 August 2022) Mr Naran Harji Pindoria

Mr Harish Vishram Ratna (Resigned on 28 August 2022) Mr Narendra Mavji Varsani Mr Dinesh Parbat Bhudia Mr Praful Premji Halai

Mr Narhari Pabat Khimani (Appointed on 28 August 2022) Mr Jayesh Vishram Ratna (Appointed on 28 August 2022) Mr Kashyap Devji Varsani (Appointed on 28 August 2022) Mr Amit Ravindra Vekaria (Appointed on 28 August 2022) Mr Kausik Govind Varsani (Appointed on 28 August 2022) Mr Paras Vasant Khimani (Appointed on 28 August 2022)

Page 3

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)

Opinion

We have audited the consolidated financial statements of Shree Swaminarayan Sidhant Sajivan Mandal (London) (the 'charity') for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the consolidated financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the consolidated financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL ILONDONI U58 of our report This report is made solely to the ¢haritls trustees. as a bcmly. in 8ccordance Part 4 of the Charitkes IA¢counts and Reports) Regulations 2008. audit has been undertaken so Ihal might slate to the charitys trustees those matter5 we are required to slate to Ihem in an auditors. report and for no olher purpose. To the fvllest extent pem)itte¢ by law, we do not accept or assume responsibility to anyone oiher than the charity and Ihe d￿rity$ Imstees 85 a boéy. for our audit vnrk. for this reporL orlor thè opinions we have formed. Associaies Limited Charte￿d Accountants & Stalutory Audilor 2nd Fltstsr, One Hobbs House. Harrovian Busines5 V111age Bessborough Road Harrow Middlesex HA1 3EX Date.. 19 October 2022 Kiran Patel BA BFP FCA Page 7

SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Other trading activities
3
Investment income
4
Transfers from Unrestricted Funds
Total
EXPENDITURE ON
Raising funds
5
Charitable activities
6
Management & administration
Finance costs
Donations
Transfers to Restricted Funds
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
1,171,248
11,837
189,368
-
1,372,453
75,737
239,219
2,703
-
358,021
675,680
696,773
1,956,069
2,652,842
Restricted
funds
£
119,988
-
-
358,021
478,009
-
-
-
119,988
-
119,988
358,021
23,780,622
24,138,643		 2021

Total
funds
£
1,291,236
11,837
189,368
358,021
1,850,462
75,737
239,219
2,703
119,988
358,021
795,668
1,054,794
25,736,691
26,791,485		 2020
Total
funds
£
1,034,598
14,785
192,124
-
1,241,507
106,435
366,307
1,350
-
-
474,092
767,415
24,969,276
25,736,691

The notes form part of these financial statements

Page 8

SHREE SWAMINARAYAN SIDHANT PAIIVAN MANDAL {LONDONI CONSOLIDATED STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2W41 2021 Total ndB 2020 Ttstsl Unreslthted Restricted funds FW ASSETS Tanglble assets 12 114.985 22J14141 24428.126 22,101,786 CURREKf ASSETS Stocks Debtors Cash at bank and In hond 15 16 124 95,682 124 95.682 136,148 3.61 4 353 748 ￿577 1.881.234 2.$68.320 1.881234 4A49,654 3.749,725 CREDITORS Arno￿￿ f8lnrrfJ due vAthln onè war 18 {30.4631 130.4631 134,0881 NET CURRENT ASSErs 537 857 419.091 3.715.637 TOTAL ASSEfs LESS CuRREP￿ LIABILMES 2,652.842 24194375 26047,217 25,817.423 ¢REDrroRS Affl0￿￿ falllng du• aftar morè than e4w yèar 20 {55.7321 155,7321 180.7321 NET ASSETS 26 791.4BS 25.736 691 FUIIDS 2.652.842 1.956,069 Reslwlcted fund8 TOTAL FUNDS 26.791485 25,736 691 Thts fln8nclo1 stat8m8nts Krè aFPrOv￿ by Board ofTrtLSte•8 and authorts•d for Issu8 on 19 October 2022 and we sigrtèd on Its ￿h01r by.. Mr i8xmiil8s F¥en￿ DabasL?-Trustèe The not8s form pArt of these financial st8tthn8nts Pag? 9

SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)

PARENT ENTITY STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2021

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
13
109,723
Investments
14
-
109,723
CURRENT ASSETS
Debtors
17
239,292
Cash at bank and in hand
2,517,976
2,757,268
CREDITORS
Amounts falling due within one year
19
(9,000)
NET CURRENT ASSETS
2,748,268
TOTAL ASSETS LESS CURRENT LIABILITIES
2,857,991
CREDITORS
Amounts falling due after more than one year
21
-
NET ASSETS
2,857,991
FUNDS
23
Unrestricted funds
Restricted funds
TOTAL FUNDS
Restricted
funds
£
21,024,134
204
21,024,338
1,142,888
1,817,259
2,960,147
-
2,960,147
23,984,485
(55,732)
23,928,753		 2021
Total
funds
£
21,133,857
204
21,134,061
1,382,180
4,335,235
5,717,415
(9,000)
5,708,415
26,842,476
(55,732)
26,786,744
2,857,991
23,928,753
26,786,744		 2020
Total
funds
£
20,895,105
204
20,895,309
1,331,794
3,593,980
4,925,774
(8,400)
4,917,374
25,812,683
(80,732)
25,731,951
2,070,867
23,661,084
25,731,951

The financial statements were approved by the Board of Trustees and authorised for issue on 19 October 2022 and were signed on its behalf by:

Mr Laxmidas Premji Dabasia – Trustee

The notes form part of these financial statements

Page 10

SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2021
£
1,077,028
1,077,028
(337,228)
371
(336,857)
740,171
3,613,577
4,353,748		 2020
£
742,974
742,974
(41,020)
3,686
(37,334)
705,640
2,907,937
3,613,577

The notes form part of these financial statements

Page 11

SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)

NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021

1.
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2021
£
Net income for the reporting period (as per the Statement of Financial
Activities)
1,054,794
Adjustments for:
Depreciation charges
10,889
Interest received
(371)
(Increase)/decrease in stocks
(124)
Decrease/(increase) in debtors
40,465
Decrease in creditors
(28,625)
Net cash provided by operations
1,077,028		 2020
£
767,415
10,859
(3,686)
776
(16,321)
(16,069)
742,974

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash
Cash at bank and in hand
Total		 At 1/1/21
£
3,613,577
3,613,577
3,613,577		 Cash flow
£
740,171
740,171
740,171		 At 31/12/21
£
4,353,748
4,353,748
4,353,748

The notes form part of these financial statements

Page 12

SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

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.

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 2015)', 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 with the exception of investments which are included at market value.

The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), 'Accounting and Reporting by Charities' published in March 2005 and applicable accounting standards.

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.

Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery - at varying rates on cost Fixtures and fittings - at varying rates on cost

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 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.

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SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

2. DONATIONS AND LEGACIES

Donations
Gift aid
Grants		 Unrestricted
funds
£
1,004,728
166,520
-
1,171,248		 Restricted
funds
£
119,988
-
-
119,988		 2021
Total
funds
£
1,124,716
166,520
-
1,291,236		 2020
Total
funds
£
843,694
186,036
4,868
1,034,598

Grants received, included in the above, are as follows:

Other grants
3.
OTHER TRADING ACTIVITIES
Unrestricted
funds
£
Shop income
11,837
4.
INVESTMENT INCOME
Unrestricted
funds
£
Net subsidiary income
188,997
Deposit account interest
371
189,368
5.
RAISING FUNDS
Other trading activities
Unrestricted
funds
£
Purchases
4,531
Closing stock
(124)
Support costs
71,330
75,737		 Restricted
funds
£
-
Restricted
funds
£
-
-
-
Restricted
funds
£
-
-
-
-		 2021
£
-
2021
Total
funds
£
11,837
2021
Total
funds
£
188,997
371
189,368
2021
Total
funds
£
4,531
(124)
71,330
75,737		 2020
£
4,868
2020
Total
funds
£
14,785
2020
Total
funds
£
188,438
3,686		 2020
£
4,868
2020
Total
funds
£
14,785
192,124
2020
Total
funds
£
11,204
-
95,231
106,435

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SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

6. CHARITABLE ACTIVITIES COSTS

Grant
funding of
activities
Support
(see note
costs (see
7)
note 8)
£
£
Management & administration
-
239,219
Finance costs
Donations
-
119,988
2,703
-
119,988
241,922
7.
GRANTS PAYABLE
2021
£
Management & administration
119,988
The total grants paid to institutions during the year was as follows:
2021
£
Donations to third parties
119,988
8.
SUPPORT COSTS
Management
Governance
Finance
& Administration
costs
£
£
£
Other trading activities
71
71,259
-
Management & administration
-
230,219
9,000
Finance costs
2,703
-
-
2,774
301,478
9,000		 Totals
£
239,219
2,703
119,988
361,910
2020
£
-
2020
£
-
Totals
£
71,330
239,219
2,703
313,252

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.

Trustees' expenses

There were no trustees’ expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.

10. STAFF COSTS

Wages and salaries
Social security costs
The average monthly number of employees during the year was as follows:
Priest
Other Staff		 2021
£
73,345
2,130
75,475
2021
2
2
4		 2020
£
96,326
3,341
99,667
2020
3
3
6

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SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

10. STAFF COSTS - continued

No employees received emoluments in excess of £60,000.

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Other trading activities
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Management & administration
Finance costs
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
12.
CONSOLIDATED TANGIBLE FIXED ASSETS
Freehold
property
£
COST
At 1 January 2021
21,981,730
Additions
331,411
At 31 December 2021
22,313,141
DEPRECIATION
At 1 January 2021
-
Charge for year
-
At 31 December 2021
-
NET BOOK VALUE
At 31 December 2021
22,313,141
At 31 December 2020
21,981,730		 Unrestricted
funds
£
1,034,598
14,785
192,124
1,241,507
106,435
366,307
1,350
474,092
767,415
1,188,654
1,956,069
Plant &
machinery
£
147,083
609
147,692
66,069
7,384
73,453
74,239
81,014		 Unrestricted
funds
£
1,034,598
14,785
192,124
1,241,507
106,435
366,307
1,350
474,092
767,415
1,188,654
1,956,069
Plant &
machinery
£
147,083
609
147,692
66,069
7,384
73,453
74,239
81,014
Restricted
funds
£
-
-
-
-
-
-
-
-
-
23,780,622
23,780,622
Fixtures
and
fittings
£
67,794
5,208
73,002
28,752
3,504
32,256
40,746
39,042
Restricted
funds
£
-
-
-
-
-
-
-
-
-
23,780,622
23,780,622
Fixtures
and
fittings
£
67,794
5,208
73,002
28,752
3,504
32,256
40,746
39,042
Total
funds
£
1,034,598
14,785
192,124
1,241,507
106,435
366,307
1,350
474,092
767,415
24,969,276
25,736,691
Totals
£
22,196,607
337,228
22,533,835
94,821
10,888
105,709
22,428,126
22,101,786

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SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

13. PARENT ENTITY TANGIBLE FIXED ASSETS

Freehold
Plant &
property
machinery
£
£
COST
At 1 January 2021
20,781,465
147,083
Additions
242,669
609
At 31 December 2021
21,024,134
147,692
DEPRECIATION
At 1 January 2021
-
66,069
Charge for year
-
7,384
At 31 December 2021
-
73,453
NET BOOK VALUE
At 31 December 2021
21,024,134
74,239
At 31 December 2020
20,781,465
81,014
14. PARENT ENTITY FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 January 2021 and 31 December 2021
NET BOOK VALUE
At 31 December 2021
At 31 December 2020
There were no investment assets outside the UK.
15.
STOCKS
Stocks
16.
CONSOLIDATED DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
VAT
Prepayments
17.
PARENT ENTITY DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors
Prepayments		 Freehold
Plant &
property
machinery
£
£
COST
At 1 January 2021
20,781,465
147,083
Additions
242,669
609
At 31 December 2021
21,024,134
147,692
DEPRECIATION
At 1 January 2021
-
66,069
Charge for year
-
7,384
At 31 December 2021
-
73,453
NET BOOK VALUE
At 31 December 2021
21,024,134
74,239
At 31 December 2020
20,781,465
81,014
14. PARENT ENTITY FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 January 2021 and 31 December 2021
NET BOOK VALUE
At 31 December 2021
At 31 December 2020
There were no investment assets outside the UK.
15.
STOCKS
Stocks
16.
CONSOLIDATED DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
VAT
Prepayments
17.
PARENT ENTITY DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors
Prepayments

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SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

18.
CONSOLIDATED CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
£
Trade creditors
10,520
Social security and other taxes
413
Other creditors
1,743
Net Wages
3,093
Accrued expenses
14,694
30,463
19.
PARENT ENTITY CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
£
Accrued expenses
9,000
9,000
20.
CONSOLIDATED CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021
£
Other creditors
55,732
21.
PARENT ENTITY CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021
£
Other creditors
55,732
22.
CONSOLIDATED MOVEMENT IN FUNDS
Net
movement
At 1/1/21
in funds
£
£
Unrestricted funds
General fund
1,956,069
696,773
Restricted funds
Fixed Assets
23,780,622
358,021
TOTAL FUNDS
25,736,691
**1,054,794 **		 2020
£
18,353
-
1,383
-
14,352
34,088
2020
£
8,400
8,400

2020
£
80,732

2020
£
80,732

At
31/12/21
£
2,652,842
24,138,643
26,791,485

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SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON) NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

22. CONSOLIDATED MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources
Movement
resources expended
in funds
£ £ £
Unrestricted funds
General fund 1,372,453 (675,680) 696,773
Restricted funds
Restricted Donations 119,988 (119,988) -
Fixed Assets 358,021 - 358,021
478,009 (119,988) 358,021
TOTAL FUNDS **1,850,462 ** (795,668) **1,054,794 **
Comparatives for movement in funds
Net
movement
At
At 1/1/20 in funds 31/12/20
£ £ £
Unrestricted funds
General fund 1,188,654 767,415 1,956,069
Restricted funds
Fixed Assets 23,780,622 - 23,780,622
TOTAL FUNDS 24,969,276 767,415 25,736,691
Comparative net movement in funds, included in the above are as follows:
Incoming Resources
Movement
resources expended
in funds
£ £ £
Unrestricted funds
General fund 1,241,507 (474,092) 767,415
TOTAL FUNDS 1,241,507 (474,092) 767,415

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Fixed Assets
TOTAL FUNDS		 At 1/1/20
£
1,188,654
23,780,622
24,969,276		 Net
movement

in funds
£
1,464,188
358,021
1,822,209
At
31/12/21
£
2,652,842
24,138,643
26,791,485

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SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

22. CONSOLIDATED 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:

Unrestricted funds
General fund
Restricted funds
Restricted Donations
Fixed Assets
TOTAL FUNDS
23. PARENT ENTITY MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Fixed Assets

TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Restricted Donations

Fixed Assets
TOTAL FUNDS		 Incoming
Movement
resources
£
2,613,960
119,988
358,021
478,009
3,091,969
At 1/1/21
£
2,070,867
23,661,084
25,731,951
Incoming
resources
£
1,296,716
119,988

267,669
387,657
1,684,373		 Incoming
Movement
resources
£
2,613,960
119,988
358,021
Resources


expended
£
(1,149,772)
(119,988)
-
(119,988)
(1,269,760)
Net
movement
in funds
£
787,124
267,669
1,054,793
Resources
expended
£
(509,592)
(119,988)

-
(119,988)

(629,580)		 Resources
expended
£
(1,149,772)
(119,988)
-		 Resources
expended
£
(1,149,772)
(119,988)
-
in funds
£
1,464,188

-
358,021
358,021
1,822,209
At
31/12/21
£
2,857,991
23,928,753
26,786,744
Movement
in funds
£
787,124
-
267,669
267,669
1,054,793
478,009 (119,988)
3,091,969 (1,269,760)

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SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

23. PARENT ENTITY MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Fixed Assets
TOTAL FUNDS		 At 1/1/20
£
1,335,694
23,628,841
24,964,535		 Net
movement

in funds
£
735,173
32,243
767,416
At
31/12/20
£
2,070,867
23,661,084
25,731,951

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Fixed Assets
TOTAL FUNDS		 Incoming
resources
£
1,134,887
32,243
1,167,130		 Resources
expended
£
(399,714)
-
(399,714)		 Movement
in funds
£
735,173
32,243
767,416

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Fixed Assets
TOTAL FUNDS		 At 1/1/20
£
1,335,694
23,628,841
24,964,535		 Net
movement

in funds
£
1,522,297
299,912
1,822,209
At
31/12/21
£
2,857,991
23,928,753
26,786,744

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SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

23. PARENT ENTITY 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:

Unrestricted funds
General fund
Restricted funds
Restricted Donations

Fixed Assets
TOTAL FUNDS		 Incoming
resources
£
2,431,603
119,988

299,912
419,900
2,851,503		 Resources
expended
£
(909,306)
(119,988)
-
(119,988)
(1,029,294)		 Movement
in funds
£
1,522,297
-
299,912
299,912
1,822,209

24. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2021.

25. SUBSIDIARY UNDERTAKINGS

The charitable entity has four wholly owned subsidiary undertakings registered in England and Wales:

Name Number Registered Address Activity
 Holding
Shree Hari Construction Limited 05624453 Shree Muktajeevan Construction
 100%
Swamibapa Complex, 211 of
Kingsbury Road, London, commercial
England, NW9 8AQ buildings
Abji Bapashree House Limited 09710792 Shree Muktajeevan Property
 100%
Swamibapa Complex, 211 management
Kingsbury Road, London,
England, NW9 8AQ
Dhanya House Limited 10240442 Shree Muktajeevan Property
 100%
Swamibapa Complex, 211 management
Kingsbury Road, London,
England, NW9 8AQ
Sneh Enterprises Limited 11281339 Shree Muktajeevan Event
 100%
Swamibapa Complex, 211 Catering
Kingsbury Road, London, Activities and
England, NW9 8AQ other food
services

Page 22