CHARITY NUMBER: 267037 OSHWAL ASSOCIATION OF THE UNITED KINGDOM ANNUAL RepoRT AND FINANCIAL 8TATEMENTS YEAR ENDED 31 DECEMBER 2023 GRIFFIN STONE MOSCROP & CO {GSMI Chartor9d Accountsnts 21-27 Lamb'8 Condult 8tr•èt London WC1N 3GS OSHWAL ASSOCIATION OF THE UNITED KINGDOM ANNUAL REPORT ANO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 CONTENTS PAGE Legal & Admlnistr81ive Delalls Report of the Executive Commlttee Independent Auditors, Report 9-12 Statement of Financial Activit￿S 13 BalarKe She81 14 Slal8mgnt of Cash Flows 15 Notes lo the Financial Slalemenls 16-28 OSHWAL ASSOCIATION OF The UNrrED KINGDOM LEGAL AND AOMINISTRATIVE DETAILS CHARITY NUMBER: 287037 EXECUTIVE COMMrrTEE: Office Bearern: President Nam• Rumit Devchand Shah From (0110112023 to present) Vicg President Nim￿1 Chandrakant Shah (0110112023 to presentl retary Minesh Venichand Shah {01101r2023 to presentl Treasurer Minakshl Naren Shah {01101r2023 to present) OtherM•mbgr•.' Basanti Dilip Shah Bhavin Manish Shah Bijal Harakchand Shah Hitan Panachand Savla Hitestt Lakhamshi Shah Khilit Mukund Shah Rajesh Jethalal Shah Raivae Shah Punatar Sachin Shammi Shah Shandip Nath81al Shah Poonam Chimanbl Shah Shilpa Chetsn Shah 10110112023 to present) 10110112023 to p￿Sent) (0110112023 to presenti (0110112023 to presentl (0110112023 to presenti (0110112023 to pr8sentl (0110112023 to presentl (0110112023 to present) (0110112023 to presenti (0110112023 to presentl (0110112023 to presenti 15105f2023 to present Arna Tru•t•u:' East Lelcester Luton Northampton North North East North West South Avni Jayanlilal Shah Sarad Lakhamsi Shah Irene Maiiori& Shah Deepak Jivrnj Shah Mukesh Nathoobhai Shah Poonam Aikesh Shah Jayshree Ohireft Shah Nipun Prennthand Shah Shejal Nilesh Shah (0110112023 to pre88nti (0110112023 to presenti {01101120231o present) 10110112023 lo present} {0110112023 to presenll 10110112023 to present) (0110112023 to present) 10110112023 to present) (0110112023 to present) CHARITY NUMBER: 267037 PRINCIPAL OFFICE: Oshwal Centre Coopers Lane Road Northaw Herts EN6 4DG WEBSITE: w*w.oshwal.org Griffin Stone thjscrop & Co IGSMI Chartered Accountsnis & Registered Audtiors 21-27 Lamb's Conduit Street London EC1N 3GS AUDITORS: OSHWAL ASSOCIATION OF THE UNITED IQNGDOM LEGAL AND ADPIINISTRATIVE DEfAILS CHARITY NUMBER: 267037 Bardays Bank p Nailonal Westrntnster Bank Pk Fwne Investrnent MarHgement Llnlted BANKERS.. OSHWAL ASSOCIATION OF THE UNITED KINGDOP41 REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2023 The Executive Committee present their annual report ￿th the audlted flnanclal statements of the AssoclatSon for th8 year ended 31 Décember 2023. The financlal statements have been prepared based on the accountlng policiès sel out in note 110 the financlal statements and comply with thé rèqulr8m8nls of the Charities Act, Conslptulion of the Association, and Accounting and Reporting by Cl7arities. Statement ol Recommended Practice applicable to ch8rStles preparlng their arxounts in accordance with the Financial ReFQrting St8ndard applicable In the UK and Republic of Ireland Icharllleg SORP FRS 102} leflecUve 1 January 20191. Obhe¢ts of tho A••o¢lollon The objects of the Assoclatlon, as defined by the Constitution aro.. the advancement of the Jaln religion rellef of povety advancement of educallon prolecllon of h8allh and walfara other charitable objects as the Trustees of the As8oclation may from Vme to Ilme decid8. Wrthin Ihese objects the As80ciation.' ha8 conjtructed aniJ18 malntslnlng 8 Dera8gT (Jaln temple), 81 the Oshwal Cgntre In Potters 88r,' maintalns community h8118 currenlty at Potters Bar (Herttordshlre), Klngsbury (North West London) and Hounslow {Middlesex) whlch can b8 hired by tts membér8 and other8 for celèbratlon of blrth8, marriages, and religlous functlons, atc. lacllltstes programmes and ￿remonieS to mark au8pIciou8 day8 as prescrtbed by the Jain rellglon; lacllitalos 8POrtlng functions and rrtness and yoga c128ses lor membor8 encompasslng 8118ge group8 and social events for the elderly., f8cilitat8s learning of the Guj8ral language and cullure for younger membor8 of the community In 8evér81 areas., holds semlnars, lectures, workshops etc. for advancement of health and welfare of members, providing guidan¢e for fvrther education and career advancemanl, and for a deeper understanding of the Jaln rellglon. Publlc B•nefft The Executlve Cornmlttee has glven carefvl conslderallon to guldance publlshed by the Charlty Commlsslon on PLtblic benefiL when revlewlng thelr alm8 and objecllves and In plannlng activttie8. Organ18atlonal Structure The Association is governèd in accordance with the terms of ils Constitut￿n. a) Ex•cutlvo Commltt•o The names of the current members of the Executlve Commlttee and those who held office dudng tha financial year ar8 sot out on page 1. Th& members of the Executlve Committee, who are th& Charlty Trustses for the purposes of the Charllle$ Act 2011, conduct the operations of the Associaty'on, Full-llme pald employees and volunteers undertake the day-t041ay management of the Association. Nine geographically defined branches, referred to as Areas. feport to 8nd are responsible lo the Execuliye Committee. The Areas have their own local committees and are responsible for the various aclNlties operated in furtherance of the Association's objects in their respective areas. OSHWAL ASSOCIATION OF THE UNITED KINGDOM REPORT OF THE EXECUTIVE COMMirrEE FOR THE YEAR ENDED 310ECEMBER 2023 The Executive Committee comprises of four Office Bea￿r$ and tsvèlve Executive Committee Members who are elected by the members of the Association for a period of tsvo years. In additson. each of the nine Are8 Chairpersons Is also a Trustè8 of the Assoclation. The Executive Committee m8els on avwag& once a month to discuss the affairs oflhe AssL￿ath. 8ub4ommlttoe8 To assist in th& operation and Manageff￿nI of the Association, sU￿¢0mMittee9 are fomied. Each such committee 18 chaired ty a member of the Executlve Committeg and comprises of seveT81 other members of the Association as required by the Chairpef8on. Sub-committees in operation during the year were: SLib-Committee Audit Commi118e Flnance Extemal Lbaison + Adminlstratlon Secrgtsry + PMC Chlof Informatlon Officer + Fund Ralsing Health & Wellbeing + Edu¢8tlon Health & Wellbelng + Social & Print Media Women's Empowemient + C&H Meena N Shah Youth Sachln S Shah OBPN Bhavln M Shah Welfare + Anand Y8tra Hltesh L Shah PMC Ralesh J Shah Govemance + Legal + Member8hip Hiten P Savla Soclal & Prlnt Medla + OBPN Basanli D Shah A8s1 Treasurer and Capex Bilal H Shah Technology - CTO Khilit M Shah Religlon Shandip N Shah Enabllng Ne￿Ork Shilpa C Shah Cliaiiperson Nirmal C Shah Meena N Shah Rumit D Shah Mlne8h V Shah From To 0110112023 0110112023 0110112023 0110112023 Nlmwl C Shah 0110112023 RajveeSh8h Punatar Poonam C Shah 01101r2023 01101f2023 0110112023 0110112023 0110112023 0110112023 0110112023 0110112023 0110112023 0110112023 0110112023 0110112023 1310512023 b) Board of Advl•orn The Board of Advlsors now comprlse8 of SIX el￿ted members and several past Presldents, (who h8ve served the Assoclallon and do not hold any offlcel. The 808rd of Advlsors Ss an Independent body that advises the Executlve Commhtee on mallers that 8re rèferred to the Board and are also Involved In the grtevance and dlscSpllnary procedure. The following members seryed the Association as members of Board of Advlgorg durlng the year.. Hasmlta Hitesh Shah Jlnlt Gosar Shah Manish Hansraj Shah Neel Mahendra Shah Ramesh KD Shah Sumi Hltesh Shah Rali Devchand Shah Tushar Jayantilal Shah Nilesh Bhagwanji Shah Elected Member Elacted Member Elected Member Elected Member Elected Member Elected Member Past President Past President Past President OSHWAL ASSOCIATION OF THE UNITED KINGKIM REPORT OF THE EXECUTIVE COIMIITfEE FOR THE YEAR ENDED 31 DECEMBER 2023 ¢) Romuneratlon pollcy for koy managomont personn The Trustees consider the members of Ihe Execuliye Commiitee comwise the key management personnel of the charity in charge of directing. controlling. running and operating the Association on a day-ttrday basis. None of the Trustees receNed any rerwnera￿n or benefits in the year for providing their services. Financlal Rev1￿ and Results for the Yoar wth Covid now in the ￿$1 the cost of living crisis has been effecting our members in the same manner as everyone else in the County Hall rental income has tx)unced back ￿st Covid but not to the same effect as in PreV￿u$ year. Tt)tsl hall rental In￿Me was £1,029,039 as compared to £1.070.018 in 2022 and £749,491 in 2021. Expenditure has also increased in 2023 by £129.757 from £1.456,477 in 2022 to £1,586,234 in 2023 before accounting for the impairment of fixed assets.This has resulted in a net surplus in the year of £320.460 against a surplus of £360.823 in 2022, a deuease of£40.363 A￿ordIng[y, the net a￿ts of the AssociatMM increased from £22,639,590 on 31 December 2022 to £22,689,603 on 31 Decembèr 2023 Actlvltles Undertaken In the Yèar The followng actNiti8s were undertaken during the year. The AssociatKJn ha$ conlinued to help local and internaticfflal cx)mmunities from the donations gNen generousty by our ￿ernbers. Auspicious days in accordance with the Jain Cal8ndar were celebrated at all our areas. this included Aymbel. Paryushan, Diwali, Savantsari Bhoian and Dhajadin. To make these events fully inclusive for 811 Oshwals Iculty and intemationally we have continued and expanded the use of Zoom. YouTube and other online platfOrn￿. The footfall at the Derasar has s￿n￿anty increased as a resur( of an increase in activibes and innovativety teaching Jainis Oshwal Welfare Fund has nNI replaced the £120 Scheme and all￿5 foi larger donat1x￿. The funds collected under the nvw schem& will be fulty uulised by the areas. PJI donations can be made electronically. The use of e￿¢trOn￿ media has increased signtficanty which is assisting in the reduction of the association's csrbon footprint The use of btodegradable p￿teS has replaced the single use plast￿. We have seen a stgnlficant increase in regukr activities in all areas. In accordance with the main objeclive of folknviNJ and wopagating the Jain faith and communty cohesion with members and the wtder community, all actrvibes undertaken fulfilled these aims and objectives. Community cohesion is an imFQrtanl aSP￿t of the Associakn's wc#k The oJrrent facilities with thé furth developments being undertaken will enable Ihe Ass(Kiakn'on to address and deliver progranmes and events to the changing demographic of the members. Futurn Plan8 The Executive Committee has identrfied the folkywing ffediurrpterm objec￿VeS which wlll be reviewed on an annual basis.. Replacement of new Ilft at the Derasar. OSHWAL ASSOCIATION OF THE UNITED KINGDOM REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2023 Acquisition of Wallington Sports and Soclal club, South London was in process and was Completed on 2 February 2024 Disposal of 5840 Windmill Road. South London. Refurbishment of Qshwal House, 081w￿l Centre. Exlenslon and refurblshment of Oshwal Shakli Centr8. Wesl Area. Refvrblshment of the caretakerfs cottage, Oshwal Centre. To contlnue to organise semlnars, leclures and events in order to promote the principles of the Jain Rellglon. To organis8 sèminars. léctures and èvents on HeaAh and Wallb8lng of our memb8r8 and ensure we become fully inclusbve. To contlnue and promote the actlvlty lor the youth. The members hav8 a vast rasour¢8 of knowledge and exper18nc8 whlch 8hall be u88d posltivaly for all future plans. Golng Coneom Th8 Tru$tae8 consider thgt there are no matoriai un¢8rt8lntlé8 about the Association's ability to conbnu8 88 a golng concern. Rl•k Manag•m•nt In thè short and medlum term there are no slgnlflcant rlsks, except for 8 c8lastrophlc occurrence at tha Association's propertiès. Adèquate insurance provi8lon8 have baen made to mitlg8te such rlskslpotenlial losses and thèse are revièwed annually. An extemal provldar has been appointed to undertake regular risk assessmants lor haallh and safèty issues. Th8 Executive Committee is respon$lble for the managemènt of the risks faced by the Association. All 8ignificant 8cliville$ undertaken are subject to dsk revi8w as part of the inllial prolect assessment and Impk9monlatSon. The Execullve Committ88 reviews the major rlsks that the Assoclatlon lacas on a regular basls and controls are estsbllshed 88 approprfate. The key controls u8ed by thè Association includa.. Formal agendas and minutes for all Executive Commltteè. Area8 And Sub-committee meeting Detailed terms of reference for all Committees Detailed budgetary presentation for 88¢h adivty for approval by the Executfve Committe? Established organlsational structure and Ilnes of rèporting Formal written reports to the EXeCUt￿e Committee Clear authorisallon and approval18vels Vetting procedures as required by law for the protection of the vulnerable Engagamonl of ￿ernal profèssion81 advisors as and whon necessary The Executive Committee Is sats'sfied that the major risks identified are adequately mllgated where necessary through controls est8blished for the running of the Association. It is re¢ogni$ed that the controls established can only provide reasonable but not absolute assurance that major risks have been adequatety managed. The Execulive Committee has discovered that a lol of documentation relating to major projects undertaken prior to April 20221$ not available. This may Fose a significanl financlal risk to the Assoclalion If a major incident were to occur at any of the Association's properties where the work was carried out prior lo April 2022. OSHWAL ASSOCIATION OF THE UNITED KINGDOM REPORT OF THE EXECUTIVE COMMirrEE FOR TrIE YEAR ENDED 31 DECEklBER 2023 Th8 Executive Committee is aware that ￿K)re than £85,000 are held sevwal"AA4" rated UK banks. The treasury policy is to review this on a ragular basis. Ro8?rve8 Pollcy A substantial prOport￿n of the resefyes shcfwn in the balance sheet are represented by assets other than cash. Of the reserves at 31 December 2023 of£22.689,603. net current assets amounted to £5.629.691. The Executive Committee consider the unencumbared re8eNe8 oftr* Associthn to be £5,493,198 belng the nel current assets less restricted re8eNes. The Executive Committee have revlewed the Association'8 need for unencumbered reserves and have decsded to maintain these to Cover the annual recu￿1n9 expendrture of the Assopiation which is estimated lo be approximalety £1.4 million. Tha level of Un0n￿mbered reserrfes are monitored and reviewed regularty by the Executive Committee. InvMtm•nl Pollcy The Execut￿8 Commlttoè takes a prudent to tho Inves1rr￿I of surplus funds as these are belng retained for furthering the objects of the Assouation. Accordingly, lunds not required for expendlture In the Short term are placed on déposit. The As$￿[atiOn had commitled approximatety 3.5 millicm p)und$ during 2023 for the acqulsition of Wallington Sport8 and S(Jcial Club and Some m8jor projects which requlred fvnds to be accessible at short nolice. Therèfore, the funds could not be invested on a bng term basis. Some of the funds wère already committed prevlousty on a medium lerm basis M a low rale of interest with th6 ¢urrenl provlder, Fl898tone. Also Flagstone do not have the facilty to Invest funds on a very short temi basis. Logal Co•1• Th8 Associab'on incurred costs of £24.500 during 2023 {2022 - £10.8001 to uphold the AsSociat￿n and the Trustees reputatlon8 due to the relenuess campaign by Ihe whistte blowers (carried out by minority of OLtr mèmbersl. Freehold Prop•rtlo8 The Assoclation owns the follthving freehokl properties through ils wholty ¢ywngd subsidiath: Lashglow Limited.. Oshwal Cfrnlre in Northaw. Hertlordshl Oshw81 Ekta Centre in ￿n9$bUry, North IAtsst LorKlon Oshw81 Shakti Centre in Hounslcrw. West London SLM Properties Limitad.. Oshwal Shanti Centre, 58-60 V￿ndmIll Rowj in Croydon, South LorKlon Lashgiow Llmited al￿ SLM ProFerties Liffmted are ￿lding the propenigs as a nomineo on bahalf of the Associatlon. Accountlng •nd Roportlng Re•pon•lbllllies The Executive Committee is responsible for preparing the Report of the Executive Committee and the financial statemgnts in accordance with Charities Act 2011 and United Kingdom G8nerally Accepted Ac¢ountlng Prxtice. Dwsffilln Envelope ID.. 18F3Fs9￿8484o£$￿7I￿lD18o71AO5B9 OSHWAL ASSOCIATION OF ThE UMrrED KINGDOM REPORT OF THE ExeciJfivE COMMITTEE FOR TrIE YEAR ENDED 31 DECEMBER 2023 Th8 Charflles Act 2011 requlros the Executive Commlttge as Charty Tru8taes of thé As8odallon to prepara 8ccounts for each flnanclal yearvthlch give a true and fair vlew of its fina￿181 actfvities durfng the year and of lis finandal posluon al the end of the year. In prg$8nting those fjnandal 8tat6m8nts, they are requlred select 8ultable 8ccountlng pollcies and then appty them ￿r￿tèntIy. observg the m8thod8 and prfnclpbs in the Charitlos SORP FRS 102; make Judgements arKI estimales that are reasonable and prudent, follow eppllcable UK 8ccounting stsndards and the Charitt66 SORP FRS 102, dlsc1081ng gnd explalnlng any departures In the accounts., Porg the flnancl818iatemants on a golng concern ba819 unless It IJ Inapwopdat• lo do so. The Executs￿o Commltteg Is responsiblé for k¥8plng propèr accounung record8 vthl¢* dlsdose wlth reasonable arA%racy at any tlme the financlal p081Ion of the As8ociatlon, and to enable them io ensure that the financtal Stataments comply wlth thè reqUIr•￿nts of tha Charfty (Accounts and Reports) Regulauons 21x18. They are a180 rnsponslble for safagu8rdlng the assets of the A680c￿￿on and hen¢e for taklng roa$onable 8teP8 for tho préventlon and detection of orror. fraud arKI other Irregularttlgs be8lde8 tho above r88ponslbllitl8 At a Commlttee hghj on 19 D￿rnber 2023 Grfffin Stone Mo8crop & Co wgre oppjlnted a• our audltors. Voluntser8 and 81aff The A080cl8llon b8n8fft8 greatty Ifom tho Invohement and enthu81asUc support of Its m8ry ￿lunbelI. Executtva Committee lakes th* opportunlty to thank all tho volunteers and staff for théir invaluablè ttme devotsd In hdping to wn the aff*rs ofth8 Assodation. Approved by the Executive Comm6tt4e on 2024 and 81gned on thelr behaw by: Prnsldont Trne8urer OSHWAL ASSOCIATION OF The UNwfED KNGLK*A FOR THE YEAR ENDED 31 DECEP￿ 2023 È have a￿￿rted the fmaThi81 st8tsffents ofOslvw81 Asso>kn offv United {the'ch¥tsi? fLY the year ended 31 December 2￿23 whKth Cory)￿ Ststen*nt of Fin￿181 AcbvI￿. the BalarTh Shee( the staterr￿n1 of Cash FlcNtsand rths to the finall￿] st*rrents. signifK2nt arr1wnti￿ ￿[c￿e5. The finanaal reFQrting franmth that t&s been appli8d in ther weparalion B aOscable knv and Unikd Kingd £countmg Sland* incknfing Rep￿ir￿j SlarKlarTJ 102 The F￿anUal Rewting Standaftl app1Kats￿ llp the UK and Repul*r of I￿land (Uniw ￿ngdoM GenoBIty 44£cepbJ Ac1)￿ntIng Practice). In ouropiiion Ihe financial statem￿. givea true and lawvwoftsslateoftr*(*wity'saffais asat31 0￿mb*2023. arvj ofts irmxming Ba8* for opinlon IAÈ conducted our al￿tt in *y)Ydan￿ with Internatrjnal Stsndards ￿ ALKlthig (UK) (IS4s IUK)} and applitsble I￿. Our re5FO￿b1￿ urthr *arKlards are dexrbed in ts audbtor resw)ns￿ilItres for the a￿Jit oflhe financ41 Stater￿ ￿tion ofow reFUt We we ofthe c*arity tn acrordan wilh the ethra requirerr£nts that Je rebRnttrJ cw aLKlit ofthe finartBI SlateM￿ wi the UK. inthding the FRC'S Elh#21 Standard, *K1 we have our other ethical respons￿l1￿e5 in ax0rda￿e with these tAsi8 for our ￿Inion. condilions thal W￿11*JUa1ty ￿ coWNety, rrAy (asl ' ing corKem for a of at ny)nths nifr2rt th￿bi cm the charity's abiTrty to continue as a rdevant ￿tionS ofthis reFot The other Nifumation o)mprtses the 1nfcffl￿ n the annual reirt other than the finanoal statements and ourauditorfs rerntth*M. Tr trLtslees ￿ere$F4￿$1tIe forthe otherlnfmtion. our0pin￿jn on the finanaal State￿nts does not cjwwthe ¢)ttrwinlJmknn and we do not exwess any form 0f￿uran OSPIWAL ASSOCtATION OF THE UNITED KINGIJOPI INDEPENDENT AUDITORW REPORTTOTHE EXECLMVE COMMirrEE FOR THE YEAR ENDED 310ECEPélBER 2023 (centlnuedl Our responsibilty B to the other IrrfOrrna￿n and, in doing so, consrder whether the other infcffliation is m*rk21ty inconsL8tent w6th the financial statements or our knNkdge obtairkd in the course of the audit or otherwise appears to be materialty mBstatèd. If we trjentfy such material incortsk8tencp5 or apparent materBI Th￿SS￿tements, we are required to delenmine whether thk8 gwes rise to a mthal misstatement in the fina￿181 Stalementstherr6e￿es. If, based on theworkwehave perftirm8d, we c￿ludethaI there is a rr*r*l misst*menl of this other informatN)n, we are requwed to report that faGL We have nothir•J to repJt in this regard. Matters on whlch we ar• requlred lo roport by exc0￿on We have nothing to report in respectof the bllcwng nBtters wi reL3t(on to whlth tho Charitses {￿￿oUnts and Rep()rts) R￿UlationS 2008 reqU￿e us to reportto you rf, in ourownion.. the infomBtion given in Ihe trustees, repjt inojnsistent in any material resFeL* fmancial statements; or sufficient aowunting records have not be8n kept,. or the financlal statèments are not in agreementwlih the gcwuntro records,. or we havo rh)t receNed all the infomi8tion and e￿nat￿nSWe require for our aud Re8ponslbllltles of Iru8tees As explained more fulty in the tr￿lee$. responsitrm'lilies Statement set out on page5 7 and 8 , Ihe trustee5 are I￿ponsIble for the preparalffi of the financial ststemnts and for teing sabsfied that they gNe a true and fair VEW, and for such intemal control as the bijstees determine is n￿eSsary to enable the preparation offinancial statements Ihat are free from material mlsstatemen( ￿ether due to fraud or errcf. In preparing the flnarthl statements. the trUSt￿S arè responsible for assessing the tharity's aknlity tocontinue as a going concem, di5dosing. as applicable, matter5 rel*d lo going conwn and ugng the going conL%m basis ofacr£•unting unths Ihe trustees either intend to liquidate the tharity or to cease oFwatton$, or have no alkgb'c altemabve but to do so. Audltor re6ponsibilitios forthg audlt of thefin•nci•l statsmenta Vk have been apFointed as aud(tor under section 144 ofthe Charitieg Act2011 and rekxrt in aC￿an￿wIth ktand relevant regulations n* or having effect thereunder. Our objectives are to oblain rewnable assuTarKe aboutwhetherlhe financial statements as a Who￿ are free from material misstatement, whether due lo fra￿ or error, and to issue an audltorfs report that InclLxles our opinion. Reasonab￿ assurarTh rs a hvJh level of assuran￿, but is not a guarantee that an audit condLrted in a¢￿0rdar￿wlth ISAS (UK} will aNvays deW a ￿￿terial misstatementwhen it exists. Misslatements can arise frijm fraud or and are Considered mterial rf, indwidualty or in the ag regate. they could reasonabty te expected to Influen￿ the ￿noMicde￿5HjnS of LEers taken on the basi5 0 these ffinan￿aI statements. Irregularibes, in¢lLKling fraud, are instsnces of nontAI Funds 2023 Total 2022 INCOME Donatlon Income: Donafjons Subscrlpttons ActMtle8 tr> genernl8 fund8: Propety income Intemalional Women's Day Fundraising a¢tivilie8 Public8ts'ons and sundry Bank interest Oth¢r intor&st C￿rItable Actlvltle8 Gronts 2181 451,429 21,056 27.879 479.308 21.058 486.651 13.252 1,029,039 7,292 175,e69 19,230 20,469 1,029.039 7,292 175,869 19,230 20,489 1.070,018 21b} 21¢) 89,911 12,226 17,137 13,291 98,054 18.760 2{91 21dl 147,566 6,865 147,586 1878 815 1817 300 EXPENDITURE For G•neratsd Fund• Subscriptions Intem8tional Women's Day Social and fundralsing activities Publications Propert¢e$ Forcharttabh Actlvltt•s Religious Education Youth 8¢tivilies Don8lion8 Impairment of fixed a360ts 11,043 7,086 117,965 56,732 1.000,989 11,043 9.130 31al 31bl 31fj 117.965 56.732 1,000.989 87,421 49,134 999.859 31¢) 31dl 205,080 50.422 76.201 1,407 270,447 307 205.387 50,422 76,201 60,409 270,447 182,484 48.983 48,S59 32,927 401.844 3(e) 4{81 1797 372 1858 681 NET INCOME IDEFICITI 81,443 131,4301 50.013 141.0211 Tran$f•r b•tw•en Fund• Net movement In Funds Sn th• Year 81.443 131,430) 50,013 {41,0211 Total Funds brought forward 22.471,867 167.923 22,639.590 22,680.611 TOTAL FUNDS CARRIED FORWARD 22553110 136493 22 689 603 22 639.590 Unl8SS Statsd in the notas, all comparnfjvo ￿UnIS r•late to unrestiictad funds. 13 Docuslgn Env61ap8 ID.. 18F3Fsg￿84￿4QES￿7l￿1Ol307lA0&89 08HWAL A3￿ClAn0N OF The UNITED KINGDOM 8ALANCE SHEET A8 AT 31 DECEMBER 2013 2023 2022 FLXED Assgf8 Taroible •180ts Inve8lmin18 4{0) 17,089.909 17,711 J11 17,069.912 17,711,314 ¢URfteNT A68ET8 D•blorn C8•h al bank & In h•nd 382.094 5.080.337 $.082,431 78.020 8,242.184 8,320,209 CReDITOR8: Amounts fililnq d4 wlthln on• y•ar t4•t curr•nt ••uts 1332,740) 1391,P33) J.e29,891 4,VlO,270 CREDITQR?: Am¢uAt• hlllno d aft•r on• y•ar 110.000) IIRT A88Ff8 22 FUNDS ROBlrfcl•d Unroilrlct•d 10 10 I￿.493 21663,110 22 669.e03 187,923 22,471.&17 Th•ie flnar¢dAI $Ml•m•nts ww• ippro¥•d by th• Ex•oJ1¢￿ Commlllo• on i 14f¢K on Iholr b•hAII by.. 2024 And wor• •lgn•d Rumlt l)•vaMnd shah Prnildont Mlnok•hl Nllr•n 8hah Tr•a•ur•r OSHWAL ASSOCIATION OF THE UNITED KING(K>M STATEMENT OF CASH FLOWS YEAR ENDED 31 DECEPABER 2023 2023 2022 Cuh flow$ from oporntlng 4¢tlvltlu: N•t Idoflclt) In¢om• for th• r•porUng perfod Adjustment for.. Depredal￿n Imp8im)enl of f￿0d ass•ts Inlerest income Ilnc¥oaso1 l In debl In¢Mse {d0ryts68) In tyedlt 9),013 141,0211 459.135 270.447 120.489) 1304.0691 149,1931 468.240 401,844 130,4281 84,202 1Vn,738 Not ¢aih provld•d ty op•rntlng *clhS11 40S,864 C••h fl¢)w• from InV￿lIng actlv1ll￿. Inlwe$l I￿orn6 Purcha80 of propwly, ￿9￿1 and gquiwnenl 20,489 18B,180) 30,428 {40.7211 N•t ¢••h provJd•d by Inv••tlng •cilvltl•¥ 10,293 Ch•Dg• In ci*h •nd ¢••h •qulval•nts In th• r•portlng wlod Ca•h and c#•h •qulvilonts •1 th• b•glnnlng of th• r•portlng p•rtod Ca8h •nd cA•h •qulvil•nts •tth• end of th• rnportrg p•rlod 338.153 5.242,184 1,011.282 4,230,902 6 S80 337 6242 184 15 OSHWAL ASSOCIATION OF ThE UNrrED KINGI)CAI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2023 1. AGCOUNTING POLICIES The principal accounting po[￿leS adopted, judgements and key sources of eslimalion uncertalnty In the preparation of the financial 5talernenls are as follows. Ba818 ot preparatEon and asse88ment of golng concern The finan¢ial $talemenls have been prePa￿d underthe historical cost o)nvenlion with items reGogni5ed 81 cost or transaction value unless otherwise staled in the relevant notets) lo these accounts. The financial ststemenls have been prepared in accordance wth the Staiemenl of R6commended Practi¢e'. Accounting and Repoiting by Charit￿S prepaTing their accounis in &cordance wilh the Financlal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffe¢bv& 1 January 20191 and the Financial Reporting Standard applicable in the United lQngdom and Republic of Ireland IFRS 1021 and the Charitie5 Act 2011. The Assacialion constilutt5 a publlc benefft •nlity as dafi￿d by FRS 102. The Trustees consider that there are no materk71 ￿r￿ertaintIes aljoutthe Assocrdtion's ability locontinue as a going concem. The principle a¢counling p0￿CleS, wh￿h have been applted consistenlty. are set out below. Consolldatlon The financial staternents represents the resulls of the 05hwal Association of the United Kingdom {Ihe Asscrialion'l. The ro$ults of Lashgbw Llmtte(l and SLM Pfoperti8s Limited have not been consolidaled sln¢e these subsidiary companies are do￿nant and simpty &t as nominees lor hokling the Association's various properties. Judgements In applylng accountlng pollcles and key sources of estlmatlon uncertalnty There are no signTftant areas of judgemenl or key sources of estimafion urKertainty wising from the preparation of the financial stalements. Fund A¢¢ountlng Unrestricted funds comprise accumulated SurpIL￿eS on general funds and these are avalable for use at the dis¢relion of the Exe¢ulive Commiltee in the furtherance of the general ¢harilable obJe¢llve$ of the Association. Restricted fund5 ar? those that can onty be used for restricted purposes within the objects of the Associatlon. RestriclKJns arise when S￿Ified by donors or when funds are raised for Part￿￿lar restricted purposes. Further explanation on the nature and Purpose of each of the restricted (unds is includ8d in note 10 10 the financkgl statemgnts. Incomlng Resources Incoming resources represents the total income receiyabfe durlng the year which Is rewnised on the acuuals basis of accounting except for- a) All donatkjns, including gift ald In reL8knon thereto, are included in the financial statements In the year in which they are received. bl Membwship subScri￿n5. include life subs￿ptiOns, are credited lo income in full in the year Ihey are recefved. as they are not refiJndabl8. 16 OSHWAL ASSOCIATION OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEMBER 2023 ACCOUNTING POLICIES Icontlnuodl Education and youth activity f88 income is accounted for In the period lo whlch 11 Telales [Wh￿h corresponds lo the academi¢ year from September lo July). Income received in advance is helj as deferred income. Revenue and capital grants are recognised as income when nolificali¢)n is reGeived. The income is matched with the relevant expgndilure for which th9 grant has been received. Oonaled a5se15, go¢d$ and services aré Included at the value to the Association where thi5 can be quantified and a Ihlrd party Is bearing the cost. No ?￿r>unts are included in the financial slalemenls for $8ryi¢es donated by volunteers as ihese cannot be quantified. Resources Expended All expenditure is a¢¢ounlèd for on an a¢cruals basis. The Association is not registered for VAT and its expenses are therefore inclusive of VAT which rAnnol be recovered. Donations a￿ made lo individuals and ofganisalions in order lo furlher the objects of the AsK￿latiOn. Donations made lo relief organisation$ are included in the Slalemenl of Financial Act￿[lIeS when approved by the Executive Commillee. The value of such donatlons unpald al the year-end is accrued. Donallons where the beneficiary has not been informed or has to meet certain conditions befoTe it IS released are not acciued bul noted as fin8nclal commitments. Wherever possible, expendilufo 15 allo¢aled specifically lo the relevanlaclivilies for which il is in¢urred. VVh8re Costs Gannol be direcuy attributed they have been allocated lo aclNilies on 8 basis consistent with the use of the rasourcès. Flnanclal Instruments The Association only has financial as$el$ and financial liabilities of a kind that qualify as basic finan¢lal inslwments. Basi¢ financial instruments are initially recognised at transaction value and subsequentty measured 8t Iheirselllemenl value. Invèstmènt8 Investments in subsidlary undertaklngs are included in the financial statements at cost less any provisk*n for dlminLrtion in value. Tanglble Flxed Assets Tangible fixed assets aTe staled at cost. Th8 Executive Commlttee conslder that th& funclonal fr*hold buildings are malntained in such a stal8 of repair that their residual values aré al least equal to their n81 book value. No depreciation has bean arged as the livès of these bulldlngs are considered to bo $0 long and thoir iesidual values so hlgh Ihal there Is no Signifi￿nI annual depreciation. No dep￿ration is provided on freehold land or the Derasar. An annual Impairment review is made. in accoTdan¢e wlth the requlrements ofthe Ch8rtlles SORP FRS 102, to ensure that the recoverable amounls of the assets are not lower than their current values. 17 OSHWAL ASSOCIATION OF THE UNITED KINGDOM NOTes TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOEO 31 DECEM8ER 2023 1. ACCOUNTING POLICIES Icontlnued) Depr8clallon18 Charged on cost al the lollowing rale8 80 8$ lo wrlle off the cost of each asset over Ils esllmaled u8eful economic lile. Fr6ehold properly Improvemènts- 10% Slralqhl linè basls Other Ilxed asset$ 20% Slraighl Ilne basls D18posal of freehold propety Is recognised Sn the financlal 8t818ment8 when signiftcanl rlsks and r8w8rds of owner5hlp have been Iransfefred lo Ihg PUfGhaser', this i¥ on legal completion or un¢ondllional exchange. There ha8 tseen no dl$posal of freehold property In 2021 or 2022. 0obtor• Other debtors are recogni8ed atthe settlement amount due and prepayments are valued 81 the amount prepaid nal of any Ir8de dlscoun15 du•. Ca8h at bank and In hand Cash 81 bank and cash in hand include3 Cash and short torm hSghty Ilquld Investments wllh 8 8hoTI maturity of three months or1888 from the date ol acqui8111on or openSng of the deposll or Blmi18r a￿oUnt. Crndltorn Credllois are normally re¢ognls•d at Ihelr 80111emenl amount. Accrualg ara valuad at the amount accrued n81 of any trade dlscoun15 due. Deferred Income Is recognSsed where amounts recelv&d relate to future perlod$. 18 08HWAL ASSOCIATION OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 INCOME Totsl 2023 Tot•1 2022 UnmlrfGt•d R••trlct•d (al Donatlon6 Derasar Malnlenance Jlvdaya- Anukampa D8r888r Exten81on Gonoi81 Covid Fund5ng 0shw81 Welfare Fund P8ryu$han Ukralne EArthquako4 Appe Bh8ndar Rellglou8 funcllon8 Ekl8 50th Annlv•r8ary Glft 307 18,970 307 10.970 1,218 16.403 43,710 43.710 88,022 49.406 129,208 49.466 129,256 57.108 114,543 4.993 10.802 10,602 40,248 107.203 40.248 107,203 42,281 116,525 4,222 71,306 81,548 81,848 401429 479 308 Tho £120 S(*frm& ha8 been ron4m￿ a¥ Ihe 06hw&l W81Far• Fund and golng k¥rnvord 100% 01 th18 Income wlll be allocal•d lo ¥re¥s. Inuea$lng from 50% In Ihg pa8t. Durlng 2022, donllbnb Incom• lotslled £486.851 ofvthl¢h £22.814 wa8 r88trf¢t•d and £484,037wa6 Ibl Fundr•l•lng &ctlvltlo8 Culture & herflo9• progrgmm•8 Welfare programmfri 120,522 $5.347 120.S22 55,347 61.288 28,645 1T5669 Icl Publlc*tlon• thnd 8undry Publkallon8 19.230 19,230 12,228 Id) Chorltable •¢tlvlt108 Educitlon Fee$ Progr8mme& 49,875 1,310 49.675 1,310 37,518 430 60.986 50,985 37,954 Othèr Charftsbl• actlvlt1•8 Mariiaga reglstr81ion Youth a¢tlvlllo$ 5.020 91.561 5,020 91,561 5,573 52,527 147 566 (•) Other Intere8t Interest on Secured Debt 19 OSHWAL A&SOCIATION OF THE uxrrED KINGDOM NOTES TO THE F114ANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECUIBER 2023 RESOURCES ExpeNPED Tolal 2023 Tot•J 2022 (al Soelal and fundrahlng 8dl¥lts8 Welfarè programmes Cutture and Herrtage Admin*lr8tion tt6t •lWti 80.451 35,427 22.(N37 ,451 35.427 22.087 37,337 31.824 18.260 117.965 (bl Publlc•tlon8 and •undry Publications 33.239 30.514 AL*Trin1strab"￿ o)st dlc¢atK 22.087 56.732 56,732 (c) R•llglous ondJln•l•y Paryushan Jinalay adminirytration aT¥J maint8n othor rèligiOLH fvn¢bons Ministratic￿ cc6t 8kncats.on 47.826 72,492 25,626 36.520 57,342 38.176 44.174 57,649 38,176 44.174 182,484 Idl EducAtlon TeatherB 3lluwan Cla88 h*rn 21,228 2S.Y28 21,228 25.928 19.6S4 26.826 lo) Donatton8 20.223 Earthquak8T Ap￿1 BBsnet Gaun Schwl Nepal 10.F 5.715 1.407 1.407 1.407 59,ClJ2 32,927 During 2￿22, dwtiortJ m8de totsw £32.W27 olvthth £1.996 urwe¥trk* and £30.931 was resti1(￿. OSHWAL ASSOCIATION OF THE UNITED KINGDQM NOTES TO THE FINANCEAL STATEPIENTS FOR THE YEAR ENDED 31 DECEMBER 2023 R&SOURCES EXPENDEO Icontlnuedl Propertl 2023 2022 Sglaries and NIC Counal tax 83.217 13.301 118.657 121,478 154,633 48.257 22,311 459,135 72.213 14,428 83.959 100,431 212.987 27.598 Admlnistration cost allrK8tSon Repairs and maintenance Insurance South London R8ftts1 Cost D￿Me1a￿"0n C•ntral and Ar 486,240 Igl M•ftagemont & AdmSnlstratlon 2023 2022 Prlnfjng, postsgo and stsfjonffji Bank charges Salari•s and NIC G8n8r81 offica èxpens8S Technology and solNvar• 8xp8nsas Telephone linè and broadband I￿tallatIOn HR and S&¢uriiy seNico$ Audit fees L¢901 Costs Me&ting exFens8s 3,462 9.456 109,788 7,702 .957 273 9,688 7.997 5,512 8,870 8.850 27,450 13.$52 33,951 22.800 10.800 23.760 220.869 182.601 ManagwMnl arKI administration costs have teen allocoted on an e8timated basi8 to ￿ect 80ur¢o expenditure a8 follow8.'- 2023 2022 Prop8rti8s Relsiou Soual and lundolslng activ￿03 Publications and sundry Subscripth'on8 ss 20 10 10 55 20 10 10 121.478 44.174 22.087 22,087 11.043 100.431 36.520 18.280 18.280 9.130 220.089 182001 {hl Emolum•nts of amployog• Gr05S 5alarKgs NalTronal insuran&9 CAJntrlb(rtlon$ Ex-gr8ti8 Paymant 179.835 16.984 15,450 194.008 13.291 212,269 207,299 Av8rap numbgr of $tsff employe0¢ No employee received remuneration of £60,000 or moro in the currentor previous year. Non8 olthe members of the Execubvo Committae received any remunamtion or ￿nefits during thè ulrrent or previou$ year. Trusteè expenses ol £nil12022- £nill We￿ reirnbursed during year. The A$s￿"&bon Cons￿ k•y man#q*nSrtF￿onn& to b• thg Trustees. Thg 1rt81 eMp￿Ym&￿￿ofisfts ofkey mgnggemgnl person￿1 w&ro £nil12022- £nil). The ex4ratia payment r8lat8s lo statutory radundancy pay for an &mploya•. 21 OSHWAL ASSOCIATION OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMPER 2023 TANGIBLE FIXED ASSETS Frnghold FrDBhtsJd Prop•rty Improvo- Plant, E4uSpm•nt ano Ut•￿1¢0 Land and Dovelopm•hi Ctyol D•M84r Comptpx lal cosr As at 1 January 2023 Addlttons 9,63S. 4h70.712 66,342 401,B44 8,751,214 1,291,516 1￿36 2.$51,oa6 8B,1aO 4.557 As at 31 O•cambaf 2023 ￿ ￿54 401844 0 751.214 1293 354 DEPRECIATION A5 at 1 January 2023 Charge for th8 year Irr+p8irm8ni 3.185.126 447.971 401.644 1,272.805 11.184 4.839.77S 459.135 270.447 270.447 A$ at 31 Do¢?mbgr 2023 3 813 097 401614 NET BOOK VALUE A$ 8t 31 D¢¢•mber 2023 43 957 S.751.214 A$ gt 3108cembw 2022 B781211 17711311 Ibl The n01 book values of t￿(reeho￿ fvndonal land and trAiildlng$ wn￿￿.. 2023 2022 Prop•rtlas hdd In TN8t by Lashglow Llmlted Oshwal HouBe Assembly Halls 05hwal &ia Contr8 Oshwal Sh8kli Cgnlre 1.540.176 2.612,791 2.411.375 544,006 7.108.350 1,540,178 2,612.791 2.411.375 544.008 7,108,350 Pwpgrty h•ld In Trust by SLM Proport108 Llrnbtod 05hw8l 8hants' Conto 2,2S7,003 2,527.450 Th8 Execlth Cornmiti￿ ar• ol the •plnbn Ihal rnaik•t voljos of Ihe Ireehold fun¢t￿n￿l properNe$ are not188s Ihan Ih81r book Value at 3108C8mbBr 2023. Icl Analyth olfiet bookV8l￿ offr88hold prDPèTiy Impro¥ernents'. Addltlon$ 2023 Dèprnelaiion ch•rg8 In 2023 BalanGO at 31.11.2023 31.12.2022 A$$￿blY Hall$ Oshwal Ho￿8 08hwal Ekta Cetttro OBhw81 shak￿ c8ntf8 298,598 47S,620 573,162 Z31M42 94,425 121.904 28N2 449.gog d53.258 13.948 6B.508 13.948 1.305 668 OSHWAL ASSOCIATION OF THE UNITED KINGDOM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 INVESTMENT IN $vasiDIARY UNDERTAKINGS 2023 2022 At C051 Thè As8ocia*on owns thewhob of Ihg i88ued Ordinary Capital ol Lashglw Lknitsd and SLM Prop8rti8S Lim>led. companies TegistsT8d in England and Wa￿3 vith cornpany numbws 01651206 aThJ 11630794 r&sp¢ctNely. The ¢ornpanies hokl freehold proporbes as a nomineo on behaw oltha Associatson. They have not traded either during thè ￿rrent or Ihe previous yoar. The past ty present officA bearèjs of the Association ar diredN¥ of Lashgltrw Limitsj and SLM Pr¢perties Llnited. Thtr r95uIts ol Lashglow knmit8cI and SLM ProF4rtsas Limltod have not been consoltdated *nc* these subshlrary companies were domiantdurtng the oJrrent and pwous year. 6. DE8TORS 2023 2022 Other d8bto Prepayrnenis Oulstsnding d8bt (secured 108nl 85.299 296.795 5.291 8.517 64.217 The outstsrding debt b8lanr* of£64,217 was thJlly repairl by 31 January 2023. BANK AND CASH 8ALANCES 2023 2022 C8$h al bank Cash in hand 5,580,287 70 5,241,436 748 5 242 184 8. CREDITORS.. •lmount8 fallhity *lthln ono y 2023 2022 Other ¢reditors Hall hire deposits AccwaI$ 8nd deferred in￿)Me 28,821 152,401 151.518 23.248 130,143 238,542 332.740 • CREOITORS: Amounts lalllng dua aftermor• than on• yèar Hall hire dep)sfts Inc4uded vAthln doforrod income is rantsl income received in 2023 totalllng £22,28012022- £75,107). rdatiThJ to fi811 hora for avanfs whith ￿1[ take placa in 2024. OSHWAL AS$OCIAnoN OF THE UNITED KINQDOM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED al DECEMBER 2023 9. RELATED PARTY TRANSACTIONS There￿re no raLgt8d partytran$ae¢ions thiing the ¢urr8nt or prh?r yeAr. 10. FUNDS lal Anows ol funds Balance at 31,12.2022 overnents In 2023 OutgolDg 88lanGe at 31.12.2023 Incomlng Tr•nsfer8 R8$trlctsd Fund# D8rasarMatht8n8n Oil Jivdaya- Anvkampa Fund 041 RellelFund Ov) Jamn•g8r Medical Camp Iv) Macchu B6rl• S¢bool Iwl Wgler Flltgr Iwli Swam￿al$a￿a lor Indk8 lthh") Covid Fundin9 Ifll Earthq￿koS ￿F*s1 307 16,970 (3071 148.41101 108,654 5.445 23,589 8.649 7.618 8.452 5.616 77.224 5,44S 23,589 8,649 7.618 8,452 5,516 10,602 110.6021 167.923 22 471667 22 639 590 27,879 1 878 815 1906694 159.3091 1,797 372 1 856 681 136.493 22.553.110 22 689 603 Unrestrlct8d Fund¥ Tot81 Funds lil Dorasar Malntonance: Th18 comprlses dOna￿on8 recelved lor Ihe speclfic purp08e of Gosts re1811ng to the maintenance of the Derasar. 1111 Jlvdaya . Anukampa Fund.. Thls comprfsgs donalbns reeeNed for ihe spodfic puipo$e of irnproving the welfare of dome8lic8led anlmals and the vulnerable in the community. 0111 Rgllof Fund.. This comprfse8 donallons reGeived for the specific purpose of provbjing a55islance lo the victims ol natural calamille$. Thi8 indude8 funds collected for the Kenya appgal In ￿latIOn to the lerrori8t attoth In Kenya. Iwl Jamnagar Medfcal C8mp." Thts comprises donaloJn$ reG8ived for the J8fftftagar Me(*cal Camp. Ivl Macchu Borala School: This comprises donations received for providing educatlon facilities al Macchu Berajo School. Ivil Wat•r Flltsr: Thls comprl$es funds re¢•fved for Inslallatlon of hol & cotd drlnklrKJ water equlprnenl al the Oshwal Cenlre. Ivlll Swomlvatsalya for Indla: Th1$ was funds collected at Paryu$h8n wh8re SO% was lo be ulilised for food In Indla for Ihe needy. (vllll Covld Fundlng: Thls cc¥nwi$e5 funds recelved lo help people Suffering from Covi(L lixl Eathquake App￿1. An appeal was laLtnthed lo ojllect funds for people suffering in E8lhqu?ke Sn Turkey. Transfer of Funds Restri¢iion$ placed on certain funds were 8attsfied durln9 the year resulllng In a transfer of £nll12022- £nll) frcrfn restrlcted to unre51ricted funds. 24 OSHWAL ASSOCIATION OF THE UNFfED KINGDOM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 10. lal Analysls ol Funds ¢ontlnu•d 2021 Balanc8 at 31.12.2021 Mov8monts In 2022 Outyolng B#lanc• at 31.12.2D22 Incomlng Tran&fer8 Re8trletèd Funds Dar8sar Ma￿)1&nan 1111 Jivdaya. Antskampa Fund 1.21 16.403 11,2181 {20.2231 112,474 108,654 5.445 23,589 8,649 Ilvl Jamhagar Medl¢al Camp Iv) Macchu 88r8la School Ivil Ba$ng1 Goun Sthool N8pal I￿1} Water Flllgr Iviiil swam￿a￿alya tsr lTrJi8 Ilxl Govk1 Fundlng {¥ ￿raIne Appo81 23,589 8,849 5.715 7,618 8.452 5.516 15,7151 7.618 8.4S2 5,518 4,993 14,9931 177.458 22 503,153 22680811 22,614 1,794,6B6 132,1491 1 826,172 167.923 22,471,667 unr￿trIcted Funds Total Fynds 10. Ibl An?Iy818 of Funds by Net AB¥gts- 2023 FSx8d Ass•ts Net Currgnt A6$èts Funds 2023 Fund$ 2022 R¢strlctsd Fund$ Jivdaya- Anukarnpa Fund Rellef Fund Jamnagar Medièl Camp Macthu Bof81a Sthool Walor Futer Covld Funding Swamival$alya for lThJla 77.224 5.445 23.589 8,649 7,618 5,516 8,452 138,493 17.069 912 5483 198 12 $619891 77.224 5.445 23.589 8,649 7,616 5,516 8.452 136,493 22553 110 22 689 803 108,654 5,445 23.589 8,849 7,618 S,S18 8.452 167.923 22 471.667 22 839 590 Unmstrtcted Funds 10. (GI Analysls ol Fund8 by ￿tA¥a¢￿- 2022 Total Fund8 2022 Tofal Fund$ 2021 Flx8d A860¢6 Ngt Current R•slrf¢t•d Funds Jivdaya- Anukampa Fund R81i8tFund Jamnagar Modk•l Camp Macchu Beial8 Schwl Water Fiitsr Basn8t G8un Sc*ool N8P Covkl Funding Swamfvatsalya lor Inttkg 108.654 S,445 23,589 8,649 7.618 108.654 5,445 23.S89 8.649 7,618 112,474 5.445 23,589 8,849 7,618 5.715 S.S16 8.452 177.458 22.503.153 22680611 5,518 8,516 167,923 4,76Q,353 167,923 22,471.687 Unresldciod Fund5 17711314 t7711314 25 OSHWAL ASSOCIATION OF THE UNITED KINGWM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2023 11. opeRAnNG LEASE COMMITIIENTS Al 31 December 2023 thè Charity cornmitm•nts to mak• futwa paymants und8r rwncgllabb operab'ng1oase8 a8 folbws: 2023 2022 Not later than 1 year L8ler than 1 year and not lat•r tlwi 5 y8ars 13,450 The total ￿•80 pAym•nts racognlmd ai #n •xp•nM In th• yew w•re £13.450 (2021- £18.145). 12. NET DE8T At 1 J•nu•ry 2023 Ca•hflow• At 31 Doc•mb•r 2023 C•8h •1 blnk 5.242.184 336.1 $3 5,580,337 13. FINANCIAL It48TrUMENf8 2023 2022 Flnandal •Mots mea•urnd at am0￿••d fA)•t 85.299 89.508 Fln•ndal 1•bIl￿￿ measured at amOrti￿d (xAt 342.740 381993 FlnandAI 488elg me4sured al amr*l8ed ¢o•t ¢omprt8e trad• debtor8. •¢4>￿d Inc¢me arld other d•btcn. Fln8na81 ￿#bIllIo5 m•oour•d ot amryU8ed co•1 comprf￿ of acvu¥l8 and othor cr•drtorn. 14. P08T BALANCE SHEET EVENT8 Purth¥88 of Wallington Sp￿ts Club, Mollison Property ￿rnp￿t•d on 2 FobN8ry 2024 lor • wr¢hwe olE2,800,£ Shakti Centre refurbi•hom•rrt18 expethd to In 2Lf24 gt gn esumaled colt of £1 mlllon pour WlrKlmill Property moy be sokl h 2024 if we fmd a buy•r. Current holdorn are conBidorfng buyiiw it but havo I￿t offer•d any prfc•