REPORT OF THK TRUSTELS AND THE HLh4DL C.ENTRE (L4ST LOIUK)ry) RAD￿4 KRtSILNA TEIIPLE CO)TL)15 OF THE FE1￿}CL*L SYATELllbNf• OR THL LNDED 31 LIIARCH 2024 Page Report of the Trllstees llldependellt ExaTriner'5 Report stat¢￿ent ¢)f Filthllei￿ AetiTrities Balance Sheet Flotes to the Fi]kaneial StatemeDts 9 to 14 Detailed Statement •f ViD2neial AetÈTrities 15 to 16 THE HINDL. CEYTRE (E4sr LOPIDON) RAD￿1 KRISHTriA TENIPLE REPORT OF THE TRUSTELS FOR THE YEAR E)U)ED 31 MARCH 2024 The tnLStee5 pr&sent their rq￿ the flnanci￿ 5tateziients of the ¢hatity for the ystr ended 31 March 2024. Th¢ truste¢q have adopted the prni'isions of Accnuntino and Reporting bv ChaTities: gtaternent of Recom￿]ellded Practice applieable to charities prepar￿Ag their accounts in accordance with Fillanci￿ Reponillg Standard applicable in the UK and R¢public of Ereland (TrIiS 102) {efferttve l Januar) 2019). The finall¢ial statements have been prepared a¢cordattee with & alrou￿0 Frf)licies s¢t out ID note I to the accounL8 alld al80 comply ￿1th the CoLstityti0￿ the Cbaritie5 A¢1 2011 and A¢¢ountine alld Re￿rtIng by Charities.. SUI {second edition pub]ished October 2019). OWECTtI'ES AYL D AcrITrry￿8 Objectives and actiiitie5 for the public benefit The objectives as detailed In tbe coLstitution are that of pro%iding' - Religious education - S(Kial, ￿t]faIr, and rel￿10￿8 fa¢ilities for the collU￿1V In plati￿]ng our activities to the chriws aillLS objecti￿￿ the nuuagernellt Commit￿ ]Jas given carefi coEsideration to sbe Clwity Commiwon% geoeEai guidance oll publtc benefit inparticukr, the specific guidance on cbarities for the ath￿Cement of religio Volulltyer5 All Itusteeq and members of the exe¢uii%'e com]ni¢l￿ perforni all their ffimctions al￿ duties oll a Foluntarvb&sis. No remu￿rdtioll directly (>r Indirectly ow of the funds of the d2arity paid or is payable for the }vr io an), tnjstees ori'olunteers or io a￿ per￿ll or persolls to be connected uith anv of the tnkn. ACIIIEVIMEYf PERFOILMANCE Charitthble actiTrities DuTiog the the charity continued to pmiide tenwle services that ￿Tre al￿alIable to the publi¢ all round al￿ tbe prie%ts ¢L)ntiDued io pn7￿￿de relwous attd educational sm?cos foT the public bellefii aK2y fr0E￿ the tenwle wben safe. The temple also ¢ontinued to celebrdte all tbe n￿lti HSEtdu ￿ligiOuS and cultUT21 festii7Is and pn>￿llded enhallced education of such festii'aL8 for t&e publi¢ as as ernging social intei3ction wuth the collm]unity. Fundraising actiiities In 20?4 The Hindu (.¢ntre continues to repon an iELcrease ill the level of i'olw]tsry received to tneet its objectives. Donatiots and collections of £108,636 iirre received (?023: £102,1?3). Totsl ill¢ollJing resources from geDerate(i fi]nds amounted to £298246 (?023.' £239,650). Total incorne received from donations di￿ le￿¢1¢S increased by approxitllately 6:/0 cowared to 2023 1?0ry2 to 2023. 20 increase due to rellm)I￿ of all C.OVt1>19 r&tiictinLs} and is con%idered t)v the lTh5'tees to be i'ery reEwnable given the uncertatnty iti the wonomic envÈronTDent bttause of i￿qatiO￿ interest rat&s and the cost-of-liTrryng cYi515. Investment perftsrnwice In 2023 three of the flats above the colltmunity Thrre sold re￿Iting in a gain 02] disposal of £583.985. The fi]nds receiTr'ed from the S￿¢ of tlLe fiats of £800.IJOO ajntinue to ￿ held on dwit and the interest receivable fro this investsnent in the yearto 31 March2024 of £33,095 has been a¢¢n￿ in the acwuTLts. Page I THE HINDli CLP*TRE IEAST LONDOY) RADHA KRISIDIA TENIPLE RF,PORT OF THE TRLSTEES FOR THE Y&4R ETrWED 3111.4RCH 2024 FIYATriCIAI. REI:IEII' Finallcial position The ttuslees 8re %atisfitd 1sYEh the fitwicial stsiemeats at th¢ }rar￿ 31 Ilarch ?0?4 and despitc th¢ ¢hallen.£c8 faced as a rviult vf thi unc¢rtailltr ill the ecollomi¢ eniiromneni by tbe cost-of-liN'ing CFiSi8 and the incrc&se in intere.st rates, renJain con]ruÉtted in their efforts to cominue to raise fuotLs to zneet the objectiies of the ¢harit)' and to help develop and expand the temple building and smi¢esproiided to COD]￿ty. Prineip21 fundi￿0 50vr¢es Net incoming resoum forthe year were £298246 com[￿rEd witlL£239.650 in 7023. The increase in net ineoJJYng resources ￿￿[￿1>. due to the ittcrease in lliirsuneni income rtceii'abk in the ve2r that totalled £)3.Q9.5 (*n*i- £in,1331. The tellyle continued [￿ell￿nE fellL% hmi ihe n•VI￿ built flats huilt abnie tl cottuttunxt! centre and the total r¢ntal income received the 10 £1.56,-$15 {*023.. £127,240). Total incoming resources from donatioTrs and ILwie% £108:636 (?n*3.. £10? 1?)) ii'hich inm%ed margitmlly cvn]pared to last Vvdr. The collllniitEe maiutained control (￿'er cosLs bts￿￿￿r due to tbe iEtyact of inf12tion total expenditsre increa%ed b! £18290 {140/0 increase ¢onwared to 20?31. The incredse in total cXp￿11b][¢ was mainl), due to the illcrease in iydges forthe priesL light & heal ¢l¢anin(k and donations. As a clwity. the public has the a&suran¢e thar all rntcd DllLSt k applied for tbe pu￿leS of the clwitls objectiies alld actiTrities. As a charitN' eftjo!. ￿emptiO￿. on our clwstable actii'itie% and our inirslment income and proiided these ate applied for cluritable ainLS. The financial benefits re¢eiv¢ from the ¢xemptioL% are all applied lo help maintsinour obiectii"e5. As a charity we are ullabLe to reclaim VAT input oa out ¢osts related to our ¢l)aritsble a¢tiviues as our charitable actiNryties are exe￿p1 lor VAT purwsts. The ¢lJarih. ljas re￿￿tered for I'AT ￿ meet the VAT regulation% for its ini"eth&kt aud re4kn'elop￿ellt actiiities. Reserves polic At the end of the ftnancial yfdr. the resm'es llEre £627?,447 (aroulld 4_I ￿￿2rS Df iTrtal resowce.£ expended itt 20241 of whi¢h £296,.544 represents ￿￿talL[£d gains frorn tbe reN￿L￿tiOn of the properties held b)" the chaEitv. If fLxed are exLluded the tot21 re%erw'es at the end of the fu&￿131 )fdr Trrre £1,018.76? {approxin]atel5' 7 )rars' worth t)f the total re*ources expended in 20?4). The tr￿Stee5 beIl￿r that the additiOD21 im"estmcllt aad relltal illcome receii'ed ￿ill continllt to sn]prove thÈs [￿￿AtiOn for the future. The adeq￿¢Y of the res¢rv￿. sK)li¢Y is annually. Going eoncern Afier nthking appropriat¢ enquiri* the Tn￿ bait a reasothle e.Kpe¢tatiotJ that the Chayitv h&4 adequate re5our¢es to continue in operational ex1stett￿ for the foreseeable ￿tllre. bor this they hai"e continued to adopt the goAng concern basis In preFWtng the financial ststements. Impaet of COVllk19 on the Chariti The illyact of COVllk19 the Émwtsed bv the gOIttnn￿iI resulted ir. the Temple Closing for a ￿Sta￿lia1 puiod in ?021. Once restricti￿4 w'cre lifted the tewle initiallv rE-0￿ed for thorter hL)UT%. lin a Teduced of days. Durints 20?4, although all restrictio]L4 hat'e been Talli)i'ed the ttlLSttrth' remained mindful ts) manage the flow of dti'otetts thrvugh the ieTt]ple and thv impaLi that an!. rutt￿ pandemxt mav have i(m the temple Mith Lontin¥enci&% for altert2atii'e m¢th(i&s tl? L()ntinue w()rghsp and ¢elebratIo￿ for the coJDnwty. THE HLWDL CENTRE {￿ WhTM)N) REPORT OF TRusfEFS FOR THX YEAR L￿DED 31)IARCH 21124 The clwity COlliitiu¢s io receive incoElle the fiats held alxii'e the COmTnvJJity centre and the net pr(￿d8 received in 2023 from the sale of three tlaL8 ¢on¢InU￿ to be beld in a deithii accoullt to gellerale interest income forthe ternple. The tnLStees have identified the followyno as tbe key obiecttYe5 withtn the current p]aD. 11 To develop and expand the service5 provided by the tenjpl 2) To expalld memiaÈp. 3) To proEllOte the of the filltction ball foruse for ￿CIal and Trrlfare tctiiryties for the comutunitv. STRb'cfLIiE. GOVER14LNCE ATrID AIIAr*AGE￿1ET*T Goiernlno dt)eumellt The charity is controlled by its goveming d￿)llenl a ¢]eal of trust and Constitu￿ all uninwrated Charity. The charity formed in D¢c¢rnkn 1967 and is gol.ell￿j by a constitirtion d(KutDent that was adopted ill 2(K)l. Recruitment and appoilltment of new trnstee5 Th¢ el￿tiOn of knLqees is forlldised in the coLstitutioL The menthtt5 of the Hindu Centre el¢¢t tn]stees every thr¢¢ years. Three ¢￿$t(￿J12￿ trustees Ewe a]s) been ap￿Illied to hold the properties of the telljple. OrgaDisatiollal strlletllre An executive cO￿lttee co]L4iSting of the trustees and mLrynbers 2PP()inted by election every three >YdTS govern8 the lindu Celltre al￿ llJaJage tbe daily operation of the c]Jarity. The ]w ele¢iioTJ held on 22 January 2023. The conllt]ittee includes the following posts thai are giveti by nominatioo fmm withill the executive cortimit￿e.' Pr&sident Vice Prcsid¢nt Social Secretary IDductiOD and trainlllg of neTY trustees Page 3 E ULNT)I' CLNTRE (EAsf LOliDON) ILIDHA KIus￿lA TLItPLE REPORT OF THE TRL'STEES FOR TEIE YEAR 31 I%IARCH 2024 STRucfbuiE. ￿vF.￿L￿.￿￿CE Il[L)AC.Ll￿￿ Risk mall2gement The trustees hai"e a duty lo identift, and mie￿. the risk% to ￿thieh the cTJariN' is extK)sed and to ellsure appropriate control% are ill place to ptt)iide reasonable ￿Urattee winst fraud and uror. The Charity trustees haye ¢oLsidered the major risks and ￿e ￿1SfIed that any risLs idenrified hai'e been adequately mitigated Tr'h¢re nec¢w'. It i% recO￿lSed that 4)stellL% can ollls. pro%iaL' re&s￿able but not abx)lute assuratte that major risks have been adequaÉel)' mattaged as ¢Jettded belov¢-. Risk- fth2ncitsl performsllee and sust2inab21it)': Risk concerning fmancial perfornwice and S￿ainabl{l￿ includes anN' Sig￿lfiCallt reductioll in fUlld￿g du¢ to economic ¢onditioThs. This risk" mayund¢rniine our abilityto med the needs of our ￿serS and tsTr rDeet our strategic Risk conLerning financial perfornkThce and swstainability. is managed by the holdino of a sioniftcant fvalue of and a regular reki•4' of Chariiv tweTh'e%. TnL%tee% alw regularls. relie￿, aDd lh¢ Chari:&'% th(irt and medium4ern) financial wsition. Rlsk- safeguarding of vnlnerable #nd wple: Ri￿k collcerning the safeguarding of iu]nerdble and N'()ung pe()ple is to Ft ￿￿￿ged by safeguarding training for ail e]nplo>'e&s i4'orking directly uryth iiJ]nuable and ivung peopl¢. Risk- information se¢uriti': Risk ¢tTrn¢erning ittfornution securtty. includes. berious dattprote¢tion orsecurit). faaure llxavresult in legal and ¢ontra¢tual i*suc%, r¢putatinnal drnge and w)tential r￿e5 and loss of ?nthme. Ri8k concerning infotTJatson se¢wity is nw]aged by having a stru¢tsJtt ittpjaee forDat2 Profrction Act IDPA) lllonitorittg and compliance anv by the routine of tr s5SteEtS to idotify any sewtil). wtheM. REFERENCE kND.4DMLNISTRATIVE DETAllS Re%istered CharAty lllunber 25498? Principal address 5-7 (ed8￿ Road Stratford London F.1$4NE Trusttes MrD Sharma President Mrs S Mittal (ieneral Secretary Mrs V Nath Social Secretary. Mr R Kunjar Joitit Tre2suRr Mrs A Karir Joint S(tÈal Secretary. Mrs L SharnTh Custodiall Mrs K.IlodgQ LI￿tOd￿ll Mrs P Timwi Cusi£)dwi Mr H K Mod2il N'ice President.'50int Secretary Mr A 8]]anna Treasurer Mrs. M Chbabra Joitii S(Éiai secretary Mr N K Sharma Page 4 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 RFFEREYCE.4ND ADMIP4USTRATIIS DETAllS Indepe￿dellt Examiner Yialln2kis Spyrou. FCCA Lhartered Certified A¢￿￿niallts Solar Elouse 28? c.hase Road London 14 6NI. Bankers Llo)71s' Bank Pl¢ l]ford l Legg 8treet QTrehDsford S'olicitors Solicitors & Con]nJi&sioners of Oaths Stanhope.Elous¢ Iligh Strc¢t Stanford-le-Hope S817 OHA Approved by otderof the board of tDJSÉe￿ OD 18 Fekn]2ry 2025 attd signed on its E¢ba]f by. Irs S Mittal. Truslee Page 5 'DEPE)iDLNiT L￿NILlER's REPORT TO THE TRL'.8TEFS OF THE HL)I)L CKNTRE {&4ST Lof4DON) IDdeperLdent examiner's report Éo the trustees of The Hindll Centre {F,ast Lolldoll} I repon to the chaEit)' trnstees on of the accouDts of The IliDdu Centre {E&st l.otyJoll) (the Trnst) for the year euded 31 ￿larCh ?0•4. ReSpO￿51b11}tieS and basis of report As thc chsritt. tsustees of the TnLSt }Du are resT￿￿ThIe for the preydration of the accounts in aLcvrdaTtce ￿7th the requirements of the Charitie5 Act, -01 l (Ibe Act,). I report in re￿e¢t of tny of the Tr￿s￿S a¢couots Ca￿led out under Section 145 of the Act and in carryitig out y £xamination I have folloThrd all appli¢2ble Directions giyell by the ChaTtty CoD]riwon under Section 145(5)(b) of the Act. Independent examiner'5 Statement SinLe J'oar C}￿lt¢S inco￿t exceeded £250.000 }xJur eXati￿ be a njellkn of a lise records: or the accounts do not coryls iiith the applic2ble Mluirernents Concerning the lonn and content nf aLLounts set out the Clwitie5 (Accounts attd RtporLs) Re.Oulatio￿4 ?OQ8 other anj requirement thai th¢ accounL8 give trne and faEr l.it￿. ￿jh1¢h is not a m2tter (￿n*[derEd part of an independent examirRtiotL I hak'¢ no LOt)¥ems a[￿ haie Come acros5 no other Th2tter5 in connectioll IAith the eXa￿tion to att¢ntion should be draw￿ in this rq￿rt in order to ellable a proper ullder5tanding of the accounts to be r&iched. I'iaTuJakis F(r.4 The A&soLiation (if CTh2rtered C".ertified Accounthnts FTeemans Partsmhip l.l.P Chartered (.￿litI=d AL¢ounknits' %olar Elouse ?8? Chas¢ Road London N14 6N/. 18 b'ebruary ?U2.5 FOR THE YEAR ENDED 31 MARCH 2024 31J.24 Unrestricted fullds 31.3.23 Total Ir*'COMK AND EryIK)IITrIEhT6 FROM Donations and legacies 108.636 102.123 Other traditig actitities lttv¢8trllent in¢oD Uther iocon 156515 33.095 127240 10,133 154 Totsl 298246 239,650 Rai8Éng 21,396 C.h#ritable aetivities Religio￿$ and qacial iveIfare faciliti￿ and education 14&827 98,379 7.762 Total 145827 127537 Net gains on investments 583,985 NET INCOME 152A19 696,098 RECONCILIATION OF FUNDS Total fvnds brougbt forvrdrd 6,120,028 5.423,930 6272,447 6.120.028 Page 7 ThE H1Tr4T>L CENTRE (EAST LONDOh) RADHA I,544. The Mzluation reseThr i5 th¢ fimd representittg the In￿eaSe iti the ithe of tbc ¢haritys freehold propcrties thELt prniously re¢ogDiSed and duls. 5ewdraied at the dat¢ of tra￿sitiOn to FRS 102. 12. RELATED PARTY DISCLOSLIiLS There were no ￿lated paty for the 31 March ?0?4. Page 14 RADUA KRISIJY4A TKMPi 31.3.24 Unrestrict￿1 fimds 31.3.23 Total LYCOMK AND ENDONI￿EDIT6 Donations legaue8 C'ollections.. Arti, Ardas & Boxeg DoDaÈsoJLS (Tift aid Car park Membership fee8 Lollections by priests Sal¢ of food 50.175 41,129 51,112 34,761 8.091 93 25 6961 1.080 9,066 382 10&636 102,123 Other trading aetiiities Rents receivable 156515 127240 Investment ineome Illt¢resi.receii?ble 33,095 10,133 Other itieome Sulldry receipts 154 Total itteoming remurees 239.650 E￿EwD￿URE Charftable activities Wages Rates and Trater 22.688 10,800 5,156 11.668 17.676 1.964 1.158 37 395 15,053 10534 I lJ58 1,894 905 770 15 89383 11.173 51,614 2J17 LI￿t alld heat Teleph¢)ne Printing, postage & stslionery Advertising Swmlries 51 6￿98 761 5,932 4,778 10,683 Festiiel expellses Kitchen &. toiletries Travelling & parting Cleatiing Pest control BaJJk charges ca￿led fO￿?￿d 127ffj59 Page 15 RADHA KRtSHNA TE￿[pl DETAU.ED STATEmE￿L OF FLNANCIAL AcfivITIL FOR THE YEAR ENDED 31 MARCH 2D24 Lnrestsicted Total Charitable attiiities Brougbt forn￿￿d Licellces & subKriptson5 Donation Agent fees Depreciation lif fjxtll￿ fiitings fillDibj￿ & equipment 127,659 3,092 9.051 1523 89J83 6241 2J96 2,755 144.221 98.379 Support eosts Finance Bank ititerest 21J96 GoNernanee Costs AL"coiutsacy and legal fecs 7,762 Totsl re￿llr￿ ex 145,827 1?7,537 et illcome before gains #nd lows 151419 11fj 113 Re￿ised recO￿lSed gaill$ aud losse5 Realised Oainsl(lo￿) oll tllve51rnent propety 58i,985 r*et incofftt IS1419 696.098 This page Th)t form pan of the SLqmtory financial statements Page 16