**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 2023** Albury Associates Limited Chartered Accountants & Statutory Auditor 2nd Floor, One Hobbs House, Harrovian Business Village Bessborough Road Harrow Middlesex HA1 3EX **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** ||**Page**| |---|---| |**Report of the Trustees**|1 to 7| |**Report of the Independent Auditors**|8 to 10| |**Consolidated Statement of Financial Activities**|11| |**Consolidated Statement of Financial Position**|12| |**Parent Entity Statement of Financial Position**|13| |**Consolidated Statement of Cash Flows**|14| |**Notes to the Consolidated Statement of Cash Flows**|15| |**Notes to the Consolidated Financial Statements**|16 to 26| **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023** The trustees present their report with the financial statements of the charity for the year ended 31 December 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). Page 1 **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023** ## **OBJECTIVES AND ACTIVITIES** ## **Summary of activities** The UK registered charity, Maninagar Shree Swaminarayan Gadi Sansthan, Shree Muktajeevan Swamibapa Sthapit, Shree Swaminarayan Sidhant Sajivan Mandal London (“SSSSM London”), is one of the UK centres of Maninagar Shree Swaminarayan Gadi Sansthan, the worldwide centre for spiritual, cultural and social progress. SSSSM London operates under the name, Shree Swaminarayan Mandir Kingsbury - its de facto operational headquarters. The objectives of the charity are to advance, support and encourage the faith of Maninagar Shree Swaminarayan Gadi Sansthan in the United Kingdom. Further information about the worldwide Organisation is found on www.SwaminarayanGadi.com. Each year the Trustees and Management Committee undertake a review of how the Charity has achieved its aims and objectives and report to its members how its activities contributed to achieve these. In addition, the Trustees and Management Committee plan for future activities and how they will contribute to the aim and objectives of the Charity and to the Charity Commission guidance on public benefit. The review helps the Trustees and Management Committee ensure activities remain aligned to the objectives of the Charity. The overview below details the activities undertaken. Numerous activities were held and actively promoted 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 2023, 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** : Gujarati classes; sessions were held to give assistance to students in their mainstream education. **Spiritual** : Religious education classes and scripture recitals, in Gujarati and English, tailored for different age groups were held. **Cultural** : Classical music lessons, classical and contemporary dance classes for different age groups were held. **Social** : Daily congregations were held multiple times each day. **Charity** : Food and essential items were collected and distributed to local food banks, and blood donation sessions continued throughout the year. **Sports** : Sports activities were organised both on site and at external venues. ## **Special events of 2023** ## **January** ## **Health and well-being event** In January, a free health screening and well-being event was held at the Mandir, which benefitted the Mandir community, as well as local residents. These events and seminars, that focused on subjects such as cognitive impairment and benefits were also held periodically throughout the year. ## **Key performances by Shree Muktajeevan Swamibapa Pipe Band London** The band received special invitations to lead the performances at the Carnival of Nice, which took place in February. They also performed during the International Carnival in Yasmine Hammamet, Tunisia from 17 to 20 March 2023. ## **March** Swamibapa Gujarati School Special Assemblies During March and August 2023, the young students of Swamibapa Gujarati School held performances in the main congregation to educate and entertain, about the subjects they have been studying in class. This gave them the opportunity of speaking and performing amongst the public. ## **April, July, November and December** Blood donation sessions were held four times during the year, during which the Mandir and wider community made this most essential gift. Page 2 **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023** ## **Donation of Gifts to Children's Hospitals** During the Easter weekend, volunteers from the Mandir transported over 200 stationery gift packs and Easter Eggs to children's hospices and hospitals, including Noah's Ark Children's Hospice, The KEF Kids Centre, Whittington Children's Hospital and Islington Community Nursing Team. ## **April** ## Jeevan Ghadtar Satsang Shibir Residential Trip Over 100 participants from Shree Swaminarayan Mandir Kingsbury and Bolton took part in various educational and recreational activities at Carroty Wood - Kent, during the 4 day residential trip. ## **May** ## Ladies Day 2023 The female members of Shree Swaminarayan Mandir Kingsbury gathered for seminars focussed on female topics, as well as performances of dance, music and drama. ## **Climbing Mount Snowdon** As part of the ongoing drive to improve fitness amongst the community, over 50 members of Shree Swaminarayan Mandir London and Bolton set out to climb Mount Snowdon in Wales. ## **International Yoga Day** Hundreds of people of all ages joined in the multiple sessions held on 21 June 2023 to celebrate the 8th International Yoga Day, which was commenced by Indian Prime Minister, Shri Narendra Modi in 2015. ## **July** Kingsbury Mandir Hosted a Series of Events to Tackle Climate Change With support from Brent Council, the Mandir hosted a Pop-Up Brent Repairs Cafe and Kingsbury Environmental Network Meeting; both events aimed at actively tackling climate change and making a positive difference to the environment. ## **Ninth Anniversary Celebrations** One of the Mandal's most important occasions of the year was the 9th anniversary of Shree Swaminarayan Mandir Kingsbury, which was celebrated on Sunday 26th August 2023, in the presence of Acharya Shree Jitendriyapriyadasji Swamiji Maharaj. On this day, the 10 year anniversary celebrations of Kingsbury Mandir was officially launched. The events included cultural performances of dance, music and singing, by the students of Shree Muktajeevan Swamibapa Academy of Performing Arts. The Mandir hosted a special Rakshabandhan event to honouring representatives of the key protection services; police, ambulance, fire, army, navy, air force. Shree Muktajeevan Swamibapa Academy of Excellence - Education Awards 2023 A special Education Awards evening was held to congratulate students who had excelled in their mainstream education over the past year. ## **November** ## Diwali and New Year The festival of lights and start of Samvat 2080 was celebrated at the Mandir on 12 and 13 November 2023. Over ten thousand visitors streamed through the Mandir to have the darshan of the Lord presiding before a spectacular Annakut. ## **December** Shree Muktajeevan Swamibapa Academy of Sport A number of sporting tournaments were held to end the year. - Shree Muktajeevan Swamibapa Academy of Sport held a 10-hour cricket marathon. - The annual Ladies Netball Tournament was held on Sunday 10th December 2023. Page 3 **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023** ## **OBJECTIVES AND ACTIVITIES** ## **Public benefit** In managing the charity, the Trustees have considered the Charity Commission's general guidance on public benefit and also its supplementary public guidance on the advancement of religion for the public benefit. The Trustees always ensure that the activities undertaken are in line with the charitable objectives and aims of the charity. The charity's principal aims are objectives of promoting the Swaminarayan Faith, cultural and social development, physical, mental, emotional and spiritual health and well-being, and charitable causes. These play an important part in the lives of a wide spectrum of individuals, helping to advance morals and ethics in the wider society. ## **Grantmaking** As part of its activities, SSSSM London makes grants to organisations whose aim is to help advance the achievements and aims of the charity. The grants may be monetary or may, for example, be the provision of onsite facilities. In making any grants, the Trustees and Management Committee consider: 1. The number and amount of grants that can be supported having due regard to the charity's own expenditure requirements. 2. The grant is in accordance with the charitable purpose and objectives of the charity. 3. Grants are made to support the faith across the world, particularly in the UK and India. ## **Volunteers** SSSSM London has over 150 volunteers. The Trustees and Management Committee have set up an internal framework of departments to ensure various parts of the charity run smoothly. These departments include kitchen, security, audio/video, photography, communication, finance, Gujarati class and youth activities, cultural activities etc. Each member of the Management Committee provides a signed Fit and Proper declaration and they all, as well as all activity leads, undergo enhanced DBS checks. The Trustees and Management Committee have put in place internal controls to ensure effective risk mitigation. At the start of each financial year budgets are agreed and these are tracked on at least a quarterly basis at Management Committee meetings. Major risks, such a significant drop in donations or investment income, are considered by the Management Committee when agreeing annual budgets and the probability associated with each risk and actions needed to mitigate are reviewed on an ongoing basis. Income and expenditure are reviewed at least quarterly. Internal approval processes are in place where volunteers, department leads and individual Executive Committee representatives for departments have sign off limits on expenditure. Any expenditure over these and any significant costs, such as for special projects or events require the approval of the full Management Committee. The Charity has various sources of income, but is primarily reliant on donations from members and visitors. The key risk is the ability to continue to receive donations. The Management Committee considers this to be a low risk as its donors are numerous and continue to be very supportive. The charity expenditure is lower than its income (the charity has no debt) and should donations fall, expenditure can be reduced quickly to manage this risk. The Charity is fortunate to have an alternative source of income from the office rentals in Abji Bapashree House, which over the years has helped in meeting expenditure and furtherance of the charity objectives. The Charity has sufficient reserves as a buffer against any short to medium term reduction. ## **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. Page 4 **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023** ## **FINANCIAL REVIEW** ## **Transactions and Financial Position** The financial statements are set out on pages 11 to 26. 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 showed net expenditure for the year of £356,633 (2022: £433,259) the total reserves at the year end amounted to £26,001,593 (2022: £26,358,226). ## **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 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. 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. 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. ## **Management of bank balances and interest rates** To achieve a better rate of interest during the year bank accounts were opened in the name of Charity with Skipton Building Society, Kingdom Bank, Cambridge and Counties, Redwood Bank, Hampshire Trust Bank and United Trust Bank. This money is held on instant access, notice and fixed term bank accounts. The maximum deposited in any account is £85,000 to benefit from FSCS protection. ## **FUTURE PLANS** The Trustees look forward to further enhancing the social, spiritual and religious aspects of the charity. 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 charity has acquired land in Jubilee Close, which is adjacent to the Mandir complex. The Trustees continue to explore options to secure additional income to further enhance the objects of the charity. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document which is a constitution. It is 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 Page 5 **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023** **Principal address** Shree Swaminarayan Mandir Shree Muktajeevan Swamibapa Complex Kingsbury Road Kingsbury London NW9 8AQ **Trustees** The Management Committee Mr Ashok Velji Patel (President) Dr Mahesh Premji Varsani (Secretary) Mr Laxmidas Premji Dabasia (Treasurer) Mr Naran Harji Pindoria Mr Narendra Mavji Varsani Mr Dinesh Parbat Bhudia Mr Praful Premji Patel Mr Jayesh Vishram Ratna Mr Narhari Parbat Khimani Mr Kausik Govind Varsani Mr Kashyap Devji Varsani Mr Amit Ravindra Vekaria Mr Paras Vasant Khimani **Auditors** Albury Associates Limited Chartered Accountants & Statutory Auditor 2nd Floor, One Hobbs House, Harrovian Business Village Bessborough Road Harrow Middlesex HA1 3EX **Bankers** National Westminster Bank Plc 5 Central Circus Hendon London NW4 3LA State Bank of India 630-632, Finchley Road Golders Green London NW11 7RR ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Page 6 SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON) REPORT OF THE TRLISTEES FOR THE YEAR EMDEO 31 DECEMBER 2023 STATEMENT OF TRUSTEES, RespoNSI8IUTIES- contlnu•d Tha law 8pplicable to charitses in England and Wales, tha Charths Act 2011. Charity IAc¢ount8 8nd Roport81 Ragulationl 2008 and Ihe wo¥&lons of the trust deed requlres the Intsla•s to pware finandal statements for each finandal year whlch and lair vlgw of th8 ststg ol affalrs of th• ¢h•rity and of th& Inc¢mirYJ wourc8s gnd appli¢ation of r98QUI￿. Including thg IrKomg oxpondlture, of th• ¢hority for th81 ￿n0￿. In pr•paring thosè finaftdal stst•m•nts, th• trust•es arn roqulr8d to select $ultable accoUn￿n9 policies #nd then appty them comistenty., obseN8 tho m8thod8 and princip￿$ in thg Charity SORP.. mak• judgements #nd •sUm•t8s Ih•t or• re8gonabkg and priOonl', state vthether applicable accountlng standards have bean loll¢Md. 8uWeL* to any materfal ¢JepartUrn8 di8do8•d Ond expknined In tha financial siat8ments.' prepare th• finando18tatom•nts ￿ th¥ golng ¢orum b•￿$ unl918 It18 Inapproprfgta to Prn8um• that tha chartty vlll ntlnutr in bu8ino18. Th• tru•tee$ •M r¢$pon$ible lor keeping proper ￿Counting r•¢ordts wht¢h dtsdo1• ￿th Masonabb accuracy 01 any t11￿ th• finandal pO8￿0n ol Ihe tharfty 8nd lo tsnabkg them lo enBure that the financial ststoments ￿mpty wi¢h thè Chaiities Act 2011, the Charity IAcLounls and Report81 Regulatlon8 2￿8 and th• provlsk)n8 of lh& trust deed. They are also responslble lor 8ol•au8rdlng tha •8s•ts of th• ¢h•rfty ond ￿n£$ lor thkin9 reawn&bSe itws for th• prthntim •nd detK*on ol tr•wl and other Irre9ularftte¥. Approvod ty ord•r olth• bo•rd ottl￿t￿ on 29 OCto￿r 2024 and *￿ne4 on 118 bth811 by.. Mr Laxmldao Pfomji 0oba•lo- Tru P890 7 **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)** ## **Opinion** We have audited the financial statements of Shree Swaminarayan Sidhant Sajivan Mandal (London) (the 'charity') for the year ended 31 December 2023 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 financial statements: - give a true and fair view of the state of the charity's affairs as at 31 December 2023 and of its incoming resources and application of resources, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## **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: - the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. Page 8 **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)** ## **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 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. ## **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: - Identified applicable laws and regulations through discussions with management, commercial knowledge, and sector experience. - Obtained an understanding of the legal and regulatory frameworks, including Charities Act 2011, Charity SORP, - - and UK financial reporting standards issued by the Financial Reporting Council, as well as those impacting financial statement amounts, disclosures, health and safety, employee matters, and bribery and corruption. - - Assessed compliance by making inquiries, inspecting correspondence, and maintaining vigilance for noncompliance. - Communicated identified laws and regulations within the audit team and remained alert to instances of noncompliance. - - Assessed the susceptibility of financial statements to material misstatement, including fraud, by inquiring about fraud susceptibility, knowledge of actual/suspected/alleged fraud, and evaluating internal controls. - Addressed the risk of fraud and management bias through analytical procedures, testing journal entries, assessing accounting estimates for potential bias, and investigating significant/unusual transactions. - Designed procedures to address the risk of irregularities and non-compliance, including verifying financial statement disclosures, reading governance meeting minutes, inquiring about litigation/claims, and reviewing correspondence with relevant authorities. - Inquired about known instances or suspicions of non-compliance with laws and regulations. - Recognised limitations in detecting non-compliance unrelated to financial statements and higher risk in detecting fraud due to deliberate concealment or collusion. 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 9 REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SHREE SWAMtNARAYAN SIDHANT SAJIVAN MANDAL {LQNDONI douf r•port This rgporti$ mad• sowytothe Charitys trustees. aB a body, in actsrdgn¢o wth Part4 ofthe Charities IA¢tr)unty and R8portsl Regul810rt$ 2008. Our audlt work has been undertaken 80 that we might slat• to th• charitys tNstees th050 m8ttttrn w& aro roqulffjd tr* $tsto to Ih8m In an audStors' ￿pOrt and forno other purposg. Totha lullèst•xi•nt pem)itted ty law,we do not •c¢oPt or o8sum& resp￿SibIlity to anyon• oth•rthan th• charty and the chaiitys tru$tW 49 a tr￿dy. forour audit work. forthiB TeporL or for Ihe opinion8 wo ha￿ fom•d. Chartered Accountsnts & Sth￿tory Audltor 2nd Floor. 0￿ Hobbs Hou8•, Harrovlan Busine88 Vlllag• Be68borough Road Horri)w MiddleJ•x HA13EX Dat•.' 29 Octobor 2024 Klr•n Patel BA BFP FCA 10 **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)** ## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Other trading activities
3
Investment income
4
**Total**
**EXPENDITURE ON**
Raising funds
5
**Charitable activities**
6
Management & administration
Finance costs
Donations
Transfer to Restricted Funds
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
**1,639,173**
**126,860**
**223,910**
**1,989,943**
**122,789**
**363,021**
**5,116**
**1,898,088**
**135,075**
**2,524,089**
**(534,146)**
**2,206,068**
**1,671,922**|
Restricted
funds
£
**68,774**
**-**
**-**
**68,774**
**-**
**-**
**-**
**26,336**
**(135,075)**
**(108,739) **
**177,513**
**24,152,158**
**24,329,671**|**2023**

**Total**
**funds**
**£**
**1,707,947**
**126,860**
**223,910**
**2,058,717**
**122,789**
**363,021**
**5,116**
**1,924,424**
**-**
**2,415,350**
**(356,633)**
**26,358,226**
**26,001,593**|2022
Total
funds
£
1,785,316
57,608
170,783
2,013,707
100,303
313,718
7,795
2,025,150
-
2,446,966
(433,259)
26,791,485
26,358,226| |---|---|---|---|---| The notes form part of these financial statements Page 11 SHREE $WAMINAIiAYAN SIDHANT SAJNAN MANDAL ILONDONI CONSOLIDATED STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2023 2023 Total furtd$ 2022 Tolal fiJnds Unro¥lr¢¢t8d funts R•$trictsd fvnds Notss FIXED ASSErs TaThJlbk7 assets 13 180.616 21001,843 23,1813S9 22,976,257 CURRENT ￿SsETs Sloc*s Debtors Ca8h at barf¢ arKI in hgnd 16 17 1.204 40,301 1204 40,301 25,203 3,418,813 828 1022,156 1,362,828 2,884,984 3,444,479 CREDITORS knounts falling dug ￿￿thIn ong ygar 19 130.7501 {30,7501 127,5101 MFf CURRENT ASSETS 854 1362 828 ￿34 TQTAL ASSETS LESS CURREMT LIABIUTIES 1,671.922 24.364.671 26.036A93 28.393,228 CREDITORS Amounts falling the after rrKJro than one year 21 {36.000) (3S.000) 135,0001 MET ASSETS 26 1101693 1671922 ￿329671 ￿ 26,358.226 FUNOS Unrnstrictad luTr Restricted fvnd5 23 1,671.922 24 329 671 2,206,068 24 152 158 TOTAL FUNDS 26 001 $93 26 358 226 The finandal stAtsmonts weft appfov&Y by th¢ Board of Trustees and aulhori5ed for issue on 29 October 2024 and signed on its behaw by.. Mr Laxmid•$ Premji Dabasia-Trustse The notas fomi part ofthw finan¢i81 $t¥temertts Page 12 SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL ILONIX)NI PARENT ENTiff STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2023 2023 T¢)tal fund• 2022 Total fvnds Unrestdcted fvsnds Restricted fvnd¥ FIXED A88ET8 Tanglble ass&ts Investments 14 15 171834 21,712.837 21.880.671 204 21.682,937 204 172,834 21,713.041 21,886.876 21.683.141 ¢iIRRENT ASSETS Debtor8 Ca8h at bank and In hand 18 193,818 1 $21810 1.142,080 1,338.403 1,355,327 3 361291 1,710,325 2.441.739 4.187.084 4.718,618 CREDITORS Amounts falllng du• vAthln on• y••f 20 111,oe71 111.0871 {11.2731 NEf CURRENT A88ETS 2 A4173• 4 146 077 TOTAL ASSET8 LESS GURRENT LIABILITIES 1,877,072 24,154700 26,031,862 28.38B,486 CREDITORS ount• folllng •fter mN8 than one year 22 133.000) 138,0001 135,0001 NET AS8Ef8 1 e77 072 24119780 21996 802 FUNOS Unre#lri¢t•d fund• Restn'cted funds 24 1,877,072 24 119 780 2.411.218 TOTAL FUND8 26 998 852 28 353 486 Th• finan&￿ it*tsmants war• approved by lh• Boafd of Trust￿ #nd •ulhoriMd for iMu• on 29 Octob•f 2024 and w•r• slgnod on118 behalf by.. Mr Laxmlda& Pronli tiJi>a$la- Twit00 Tho notes fomi part ofuw finano¥l st•tsments Page 13 ## **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)** ## **CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023** |Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash used in 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**|**2023**
**£**
**(389,585) **
**(389,585) **
**(222,355)**
**36,605**
**(185,750)**
**(575,335)**
**3,418,813**
**2,843,478**|2022
£
(383,933)
(383,933)
(559,086)
8,084
(551,002)
(934,935)
4,353,748
3,418,813| |---|---|---| The notes form part of these financial statements Page 14 **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)** ## **NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023** |**1.**
**RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES**
**2023**
**£**
**Net expenditure for the reporting period (as per the Statement of**
**Financial Activities)**
**(356,634)**
**Adjustments for:**
Depreciation charges
**16,253**
Interest received
**(36,605)**
Increase in stocks
**(741)**
(Increase)/decrease in debtors
**(15,098)**
Increase/(decrease) in creditors
**3,240**
**Net cash used in operations**
**(389,585)**|2022
£
(433,259)
10,954
(8,084)
(339)
70,480
(23,685)
(383,933)| |---|---| ## **2. ANALYSIS OF CHANGES IN NET FUNDS** |**Net cash**
Cash at bank and in hand
**Total**|At 1/1/23
£
**3,418,813**
**3,418,813**
**3,418,813**|Cash flow
£
**(575,335)**
**(575,335)**
**(575,335)**|**At 31/12/23**
**£**
**2,843,478**| |---|---|---|---| ||||**2,843,478**| ||||**2,843,478**| The notes form part of these financial statements Page 15 **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the consolidated financial statements** The consolidated 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 consolidated 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. Page 16 **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** ## **2. DONATIONS AND LEGACIES** |Donations
Gift aid
Grants Received
**OTHER TRADING ACTIVITIES**
Shop income
**INVESTMENT INCOME**
Net subsidiary income
Deposit account interest|Unrestricted
funds
£
**1,434,045**
**205,128**
**-**
**1,639,173**
Unrestricted
funds
£
**126,860**
Unrestricted
funds
£
**187,305**
**36,605**
**223,910**||Restricted
funds
£
**40,284**
**-**
**28,490**
**68,774**
Restricted
funds
£
**-**
Restricted
funds
£
**-**
**-**
**-**|**2023**
**Total**
**funds**
**£**
**1,474,328**
**205,128**
**28,490**
**1,707,946**
**2023**
**Total**
**funds**
**£**
**126,860**
**2023**
**Total**
**funds**
**£**
**187,305**
**36,605**
**223,910**|2022
Total
funds
£
1,584,332
187,469
13,515
1,785,316
2022
Total
funds
£
57,608
2022
Total
funds
£
162,699
8,084
170,783| |---|---|---|---|---|---| ||||||| ||||||| ## **3. OTHER TRADING ACTIVITIES** ## **4. INVESTMENT INCOME** ## **5. RAISING FUNDS** ## **Other trading activities** |Unrestricted
funds
£
Opening stock
**463**
Purchases
**36,510**
Closing stock
**(1,204)**
Support costs
**87,020**
**122,789**|Restricted
funds
£
**-**
**-**
**-**
**-**
**-**|**2023**
**Total**
**funds**
**£**
**463**
**36,510**
**(1,204)**
**87,020**
**122,789**|2022
Total
funds
£
124
18,715
(463)
81,927
100,303| |---|---|---|---| Page 17 **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** ## **6. CHARITABLE ACTIVITIES COSTS** |Grant
funding of
activities
(see note
7)
£
Management & administration
**-**
Finance costs
**-**
Donations
**1,924,424**
**1,924,424**
**7.**
**GRANTS PAYABLE**
Donations
The total grants paid to institutions during the year was as follows:
Donations to third parties
**8.**
**SUPPORT COSTS**
Management
Finance
& Administration
£
£
Other trading activities
**2,315**
**84,705**
Management & administration
**-**
**352,821**
Finance costs
**5,116**
**-**
**7,431 **
**437,526**
**9.**
**AUDITORS' REMUNERATION**
Fees payable to the charity's auditors for the audit of the charity's financial
statements|Support
costs (see
note 8)
£
**363,021**
**5,116**
**-**
**368,137 **
**2023**
**£**
**1,924,424**
**2023**
**£**
**1,898,088**
Governance
costs
£
**-**
**10,200**
**-**
**10,200**
**2023**
**£**
**10,200**|Totals
£
**363,021**
**5,116**
**1,924,424**
**2,292,561 **
2022
£
2,025,150
2022
£
2,025,150
Totals
£
**87,020**
**363,021**
**5,116**
**455,157**
2022
£
9,900|Totals
£
**363,021**
**5,116**
**1,924,424**
**2,292,561 **
2022
£
2,025,150
2022
£
2,025,150
Totals
£
**87,020**
**363,021**
**5,116**
**455,157**
2022
£
9,900| |---|---|---|---| ||||| ||||| Page 18 **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON) NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** ## **10. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. ## **11. STAFF COSTS** |Wages and salaries
Social security costs|**2023**
**£**
**86,833**
**2,109**
**88,942**|2022
£
79,795
2,486| |---|---|---| |||82,281| The average monthly number of employees during the year was as follows: |Priest
Other Staff|**2023**
**2**
**2**
**4**|2022
2
2| |---|---|---| |||4| No employees received emoluments in excess of £60,000. ## **12. 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
Donations
Transfers to Restricted Funds
**Total**
**NET INCOME/(EXPENDITURE)**|Unrestricted
funds
£
1,771,801
57,608
170,783
2,000,192
100,303
313,718
7,795
2,025,150
-
2,446,966
(446,774)|
Restricted
funds
£
13,515
-
-
13,515
-
-
-
-
-
-
13,515|
Total
funds
£
1,785,316
57,608
170,783
2,013,707
100,303
313,718
7,795
2,025,150
-
2,446,966
(433,259)| |---|---|---|---| Page 19 **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** |**12.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
funds
funds
£
£
**RECONCILIATION OF FUNDS**
Total funds brought forward
2,652,842
24,138,643
**TOTAL FUNDS CARRIED FORWARD**
2,206,068
24,152,158
**13.**
**CONSOLIDATED TANGIBLE FIXED ASSETS**
Fixtures
Freehold
Plant &
and
property
machinery
fittings
£
£
£
**COST**
At 1 January 2023
2**2,866,768**
**147,692**
**78,461**
Additions
**135,075**
**-**
**87,279**
At 31 December 2023
2**3,001,843**
**147,692 **
**165,740**
**DEPRECIATION**
At 1 January 2023
**-**
**80,838**
**35,826**
Charge for year
**-**
**7,384**
**8,868**
At 31 December 2023
**-**
**88,222**
**44,694 **
**NET BOOK VALUE**
At 31 December 2023
2**3,001,843**
**59,470**
**121,046**
At 31 December 2022
22,866,768
66,854
42,635
**14.**
**PARENT ENTITY TANGIBLE FIXED ASSETS**
Fixtures
Freehold
Plant &
and
property
machinery
fittings
£
£
£
**COST**
At 1 January 2023
2**1,577,762**
**147,692**
**61,599**
Additions
**135,075**
**-**
**81,754 **
At 31 December 2023
21**,712,837 **
**147,692 **
**143,353**
**DEPRECIATION**
At 1 January 2023
**-**
**80,838**
**23,278**
Charge for year
**-**
**7,384 **
**6,711**
At 31 December 2023
**-**
**88,222**
**29,989**
**NET BOOK VALUE**
At 31 December 2023
21,712**,837 **
**59,470**
**113,364 **
At 31 December 2022
21,577,762
66,854
38,321|**12.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
funds
funds
£
£
**RECONCILIATION OF FUNDS**
Total funds brought forward
2,652,842
24,138,643
**TOTAL FUNDS CARRIED FORWARD**
2,206,068
24,152,158
**13.**
**CONSOLIDATED TANGIBLE FIXED ASSETS**
Fixtures
Freehold
Plant &
and
property
machinery
fittings
£
£
£
**COST**
At 1 January 2023
2**2,866,768**
**147,692**
**78,461**
Additions
**135,075**
**-**
**87,279**
At 31 December 2023
2**3,001,843**
**147,692 **
**165,740**
**DEPRECIATION**
At 1 January 2023
**-**
**80,838**
**35,826**
Charge for year
**-**
**7,384**
**8,868**
At 31 December 2023
**-**
**88,222**
**44,694 **
**NET BOOK VALUE**
At 31 December 2023
2**3,001,843**
**59,470**
**121,046**
At 31 December 2022
22,866,768
66,854
42,635
**14.**
**PARENT ENTITY TANGIBLE FIXED ASSETS**
Fixtures
Freehold
Plant &
and
property
machinery
fittings
£
£
£
**COST**
At 1 January 2023
2**1,577,762**
**147,692**
**61,599**
Additions
**135,075**
**-**
**81,754 **
At 31 December 2023
21**,712,837 **
**147,692 **
**143,353**
**DEPRECIATION**
At 1 January 2023
**-**
**80,838**
**23,278**
Charge for year
**-**
**7,384 **
**6,711**
At 31 December 2023
**-**
**88,222**
**29,989**
**NET BOOK VALUE**
At 31 December 2023
21,712**,837 **
**59,470**
**113,364 **
At 31 December 2022
21,577,762
66,854
38,321|
Total
funds
£
26,791,485
26,358,226
Totals
£
**23,092,921**
**222,354**
**23,315,275**
**116,664**
**16,252**
**132,916**
**23,182,359**
22,976,257
Totals
£
**21,787,053**
**216,829**
**22,003,882 **
**104,116**
**14,095**
**118,211**
**21,885,671**
21,682,937| |---|---|---| |||| |||| |||| |||| |||| |||| |||| |||| |||| |||| |||| Page 20 **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** ## **15. PARENT ENTITY FIXED ASSET INVESTMENTS** |**MARKET VALUE**
At 1 January 2023 and 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022
There were no investment assets outside the UK.
**16.**
**CONSOLIDATED STOCKS**
Stocks
**17.**
**CONSOLIDATED DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
VAT
Prepayments and accrued income
**18.**
**PARENT ENTITY DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
Prepayments and accrued income
**19.**
**CONSOLIDATED CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Social security and other taxes
Net Wages
Accrued expenses|**2023**
**£**
**1,204 **
**2023**
**£**
**12,281**
**4,620**
**16**
**23,384**
**40,301 **
**2023**
**£**
**1,313,019**
**23,384**
**1,336,403**
**2023**
**£**
**16,270**
**1,550**
**-**
**12,930**
**30,750**|Shares in
group
undertakings
£
**204**
**204**
204
2022
£
463
2022
£
10,520
-
-
14,683
25,203
2022
£
1,340,644
14,683
1,355,327
2022
£
10,520
2,042
3,518
11,430
27,510| |---|---|---| |||| Page 21 **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** ## **20. PARENT ENTITY CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |**2023**
**£**
Social security and other taxes
**887**
Accrued expenses
**10,200**
**11,087 **
**21.**
**CONSOLIDATED CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
**2023**
**£**
Other creditors
**35,000**
**22.**
**PARENT ENTITY CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
**2023**
**£**
Other creditors
**35,000**
**23.**
**CONSOLIDATED MOVEMENT IN FUNDS**
Net
movement
At 1/1/23
in funds
£
£
**Unrestricted funds**
General fund
**2,206,068**
**(534,146)**
**Restricted funds**
Fixed Assets
**22,866,768**
**135,075**
Bank balances
**1,285,390**
**42,438**
**24,152,158**
**177,513**
**TOTAL FUNDS**
**26,358,226**
**(356,633)**
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
**1,989,943**
**(2,524,089)**
**Restricted funds**
Fixed Assets
**-**
**135,075**
Bank balances
**-**
**42,438**
-
**177,513**
**TOTAL FUNDS**
**1,989,943**
**(2,346,576) **||2022
£
1,373
9,900
11,273
2022
£
35,000
2022
£
35,000
At
31/12/23
£
**1,671,922**
**23,001,843**
**1,327,828**
**24,329,671**
**26,001,593**
Movement
in funds
£
**(534,146)**
**135,075**
**42,438**
**177,513**
**(356,633) **| |---|---|---| |||| |||| ||
|| Page 22 **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** ## **23. CONSOLIDATED MOVEMENT IN FUNDS - continued** **Comparatives for movement in funds** |**Unrestricted funds**
General fund
**Restricted funds**
Fixed Assets
Bank balances
**TOTAL FUNDS**|At 1/1/22
£
2,652,842
22,313,141
1,825,502
24,138,643
26,791,485|Net
movement
in funds
£
(446,774)
553,627
(540,112)
13,515
(433,259)|
At
31/12/22
£
2,206,068
22,866,768
1,285,390
24,152,158
26,358,226| |---|---|---|---| Comparative net movement in funds, included in the above are as follows: |Incoming
resources
£
**Unrestricted funds**
General fund
2,000,192
**Restricted funds**
Fixed Assets
553,627
Bank balances
-
**TOTAL FUNDS**
2,553,819
A current year 12 months and prior year 12 months combined position is as follows:
At 1/1/22
£
**Unrestricted funds**
General fund
2,652,842
**Restricted funds**
Fixed Assets
22,313,141
Bank balances
1,825,502
24,138,643
**TOTAL FUNDS**
26,791,485|Incoming
resources
£
**Unrestricted funds**
General fund
2,000,192
**Restricted funds**
Fixed Assets
553,627
Bank balances
-
**TOTAL FUNDS**
2,553,819
A current year 12 months and prior year 12 months combined position is as follows:
At 1/1/22
£
**Unrestricted funds**
General fund
2,652,842
**Restricted funds**
Fixed Assets
22,313,141
Bank balances
1,825,502
24,138,643
**TOTAL FUNDS**
26,791,485|Resources
expended
£
(2,446,966)
-
(540,112)
(2,987,078)
Net
movement
in funds
£
(980,920)
688,702
(497,674)
191,028
(789,892)|

|Movement
in funds
£
(446,774)
553,627
(540,112)
(433,259)
At
31/12/23
£
1,671,922
23,001,843
1,327,828
24,329,671
26,001,593| |---|---|---|---|---| |||||| |||||| Page 23 **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** ## **23. 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**
Fixed Assets
Bank balances
**TOTAL FUNDS**
**24.**
**PARENT ENTITY MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
Fixed Assets
Bank balances
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Fixed Assets
Bank balances
**TOTAL FUNDS**||Incoming
resources
£
3,990,135
-
-
-
3,990,135
At 1/1/23
£
**2,411,218**
**22,720,854**
**1,221,414**
**23,942,268**
**26,353,486**
Incoming
resources
£
**1,867,154**
**-**
**-**
-
**1,867,154 **||Resources
expended
£
(4,971,055)
688,702
(497,674)
191,028
(4,780,027)
Net
movement
in funds
£
**(534,146)**
**135,075**
**42,437**
**177,512**
**(356,634)**
Resources
expended
£
**(2,401,300)**
**135,075**
**42,437 **
**177,512**
**(2,223,788) **|

|Movement
in funds
£
(980,920)
688,702
(497,674)
191,028
(789,892)
At
31/12/23
£
**1,877,072**
**22,855,929**
**1,263,851**
**24,119,780**
**25,996,852 **
Movement
in funds
£
**(534,146)**
**135,075**
**42,437 **
**177,512**
**(356,634)**| |---|---|---|---|---|---|---| |||||||| |||||||| ||||||
|| Page 24 **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** ## **24. PARENT ENTITY MOVEMENT IN FUNDS - continued** **Comparatives for movement in funds** |**Unrestricted funds**
General fund
**Restricted funds**
Fixed Assets
Bank balances
**TOTAL FUNDS**|At 1/1/22
£
2,857,991
22,167,226
1,761,527
23,928,753
26,786,744|Net
movement
in funds
£
(446,773)
553,628
(540,113)
13,515
(433,258)|
At
31/12/22
£
2,411,218
22,720,854
1,221,414
23,942,268
26,353,486| |---|---|---|---| Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Fixed Assets
Bank balances
**TOTAL FUNDS**|Incoming
resources
£
1,899,890
553,628
13,515
567,143
2,467,033|Resources
expended
£
(2,346,663)
-
(553,628)
(553,628)
(2,900,291)|Movement
in funds
£
(446,773)
553,628
(540,113)
13,515
(433,258)| |---|---|---|---| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Fixed Assets
Bank balances
**TOTAL FUNDS**|At 1/1/22
£
2,857,991
22,167,226
1,761,527
23,928,753
26,786,744|Net
movement
in funds
£
(980,919)
653,703
(462,676)
191,027
(789,892)|
At
31/12/23
£
1,877,072
22,820,929
1,298,851
24,119,780
25,996,852| |---|---|---|---| Page 25 **SHREE SWAMINARAYAN SIDHANT SAJIVAN MANDAL (LONDON)** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** ## **24. 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**
Fixed Assets
Bank balances
**TOTAL FUNDS**|Incoming
resources
£
3,767,044
-
-
-
3,767,044|Resources
expended
£
(4,747,963)
653,703
(462,676)
191,027
(4,556,936)|Movement
in funds
£
(980,919)
653,703
(462,676)
191,027
(789,892)| |---|---|---|---| ## **25. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 December 2023. ## **26. SUBSIDIARY UNDERTAKINGS** The charitable entity has four wholly owned subsidiary undertakings registered in England and Wales: |**Name**|||**Number**
|**Number**
|**Registered Address**||**Activity**
|**Holding**| |---|---|---|---|---|---|---|---|---| |Shree Hari Construction Limited
|||05624453
||Shree Muktajeevan||Construction
|100%| |"SHCL"|||||Swamibapa Complex,|211|of|| ||||||Kingsbury Road, London,||commercial|| ||||||England, NW9 8AQ||buildings|| |Abji Bapashree|House Limited|"ABHL"|09710792
||Shree Muktajeevan||Property
|100%| ||||||Swamibapa Complex,|211|management|| ||||||Kingsbury Road, London,|||| ||||||England, NW9 8AQ|||| |Dhanya House|Limited "DHL"||10240442
||Shree Muktajeevan||Property
|100%| ||||||Swamibapa Complex,|211|management|| ||||||Kingsbury Road, London,|||| ||||||England, NW9 8AQ|||| |Sneh Enterprises Limited "SEL"
|||11281339
||Shree Muktajeevan||Event
|100%| ||||||Swamibapa Complex,|211|Catering|| ||||||Kingsbury Road, London,||Activities and|| ||||||England, NW9 8AQ||other food|| ||||||||services|| |||||**Net**|||**Profit/(**|| |**Subsidiary**|**Assets**|**Liabilities**||**Funds**|**Turnover**
**Expenditure**||**Loss)**|| ||**£**|**£**||**£**|**£**|**£**|**£**|| |SHCL|4,741||-|4,741|-|-|
-|| |ABHL|26,278|26,178||100|187,305|187,305|
-|| |DHL|1,290,014|1,289,914||100|-|-|
-|| |SEL|21,336|21,333||3|126,860|126,860|
-|| Page 26