REGISTERED COMPANY NUMBER.. (England and Wales) REGISTERED CHARITY NUMBER: 268146 Re ort of the Truste sand naudited Financial Statements for thé Year Ended 31 March 024 Cultural Soae GSV Partners Ltd Progréss Business Centre Whittle Parkway Slough Berkshire SL16DQ
indu ultural Socie Contents of the Financial Statements for the Year Ended 31 March 2024 Page Report of the Trustees Independent Examinels Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 6 to 11 Detailed Statement of Financial Activities 12 to 13
Hindu ultural Socie ort of the Trustees for the Year Ended 31 March 2024 The trustees present their report and accounts for the year ended 31 March 2024 Back round Hindu CL*ltural Society, Sloughwas formed in 1974 for the provision of a central place of worship and religious functions for slough and neighbouring areas. The Charity is registered with the Charity Commission. 11 is a membership body of Ordinary and Life members. Membership as defined in its Constilution of February 1994, {the governing document) 'is open to any Hindu ov@r the age of 18 years interested in th8 furthering the aims and objectives and who has paid the annual membership fee of the Soc+8tf {claus8 El111 HCS is now govemed by New Constitution which was approved on 91h Dec 2017. Pu ose Prlnci ctivities The purpos8 ofthe Charity is to bring awareness of Hinduism and the philosophy of Shri Sanatan Dharm. The principal activities of the Charity are defined in its Clause C {i-vi) of its goveming document. Review of t ear The Charity continued all its activites throughout the year. oar activitie Hindu Cultural Society, Slough Temple now have full planning pemiission to extend the temple with an agreéd and signed off s198 Agreemènt with Slough Borough Council. Prior to implementing the planning pemission, Iher8 are protocols & obligations to agree with Council. Various estimates are being sought but initial cost plan is likely to be approximately £2.5m. The Charity applied for and rèceived a reasonable amount in Gift Aid from HMRC. l. We celébrated all religious functions, with full vi9our, enthusiasm and larger, all the major religious functions and will éndeavour to continue celebrating all Hindu religious functions in the forthcoming years. 2. We are now governed by the new Constitution passed on 9th Dècember 2017. 3. Our educational and dance classes are in full operation. 4. We have continued to support the community projects and other charities within Slough Borough and built stronger relations with other religious communities in Slough. 5. An online receipts and paymènt system is fully functional which would increase donations. Page 1
We have a fully installed system of collècts'ng donations by electronic means within th8 Charity premises. We now have thé facility of using card machines to accept donations. Kitchqn Staff - Legal Employment proceedings were instigated by the Kitchen staff who wére laid off during COVID times. A lot of legal negotiations took place and HCS now have paid the negotiated compensation. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its goveming documént, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies A¢t 2¢Xfj. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number (England and Walasl Registered Charity numbar 268146 Registered office Keel Drive Slough Berkshire SL12XU Trustees Company Secretary Independent Examiner GSV Partners Lid Progress Business Centre Whittle Parkway Slough Berkshire SLI 6DQ Approved by order ofthe board of trustees on ................. by.. and signed on its behalf V Kumar- Psident Dipak Goel - asurer Page 1
Inde endent xaminerfs Re Hindu Cultural Socie e Trus of Independent examinerfs report to the trustees of Hindu Cultural Soclety {Yhe Company'l I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilltles and basis of report As the charity's trusteés of the Company (and also ils directors for the purposes of company law} you are responsible for the pr8paration of the accounts in accordance Wlth the requirements of the Companies Act 2006 ('th8 2006 Act'i. Having satisfied myself Ihal the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my exarnination I have followed the Directions given by the Charity Commission under Section 14515) {b) of the 2011 Act. Independent examlnerfs statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confim that l am qualified to undertake the examination because l am a membér of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection wth the examination giving me cause to believ8'. accounting records were not kept in respect of the Company as required by Section 388 of the 2006 Act., or the accounts do not accord with those records., or the accounts do not comply with the accounting requirements of Section 398 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examinab'on., or the accounts have not been prepared in a¢cordance with the methods and principles of the Statement of Recommended practi for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with the Financial Reportin9 Standard applicable in the UK and Republic of Ireland {FRS 1021). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order lo enablé a proper understsnding of thé accounts to be reached. Sanjeev Virdeg GSV Partners Ltd Progress Business Centré Whittle Parkway Slough Bérkshire SL16DQ Date.. Page 2
Hindu al ocie Staternent of Financial Activities for the Year Ended 31 March 2024 31,3.24 Unrestri¢ted fund 31.3.23 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 293,675 244,254 Other trading activities Investment income 8,000 20,435 5,163 Total 322 110 249,417 EXPENDITURE ON Raising funds 149,930 105,540 Other 39.920 26,098 Total 189,850 131,638 NET INCOME 132,260 117,779 RECONCILIATION OF FUNDS Total funds brought fOard 1,721,959 1,604,180 TOTAL FUNDS CARRIED FORWARD 1,854,219 1,721,959 The notes fomi part of these financial statements Page 3
Hind Itural ccie Balance Sheet 31 March 2024 31.3.24 Unrestricted fund 31.3.23 Total funds Notes FIXED ASSETS Tangible assets 883,156 883,495 CURRENT ASSETS Debtors Cash at bank 559 841,058 975.361 975,361 841.617 CREDITORS Amounts falling due within one year 10 {4,2981 (3,153) NET CURRENT ASSETS 971,063 838.464 TOTAL ASSETS LESS CURRENT LIABILITIES 1,854,219 1,721,959 NET ASSETS 1,854,219 1,721,959 FUNDS Unrestricted funds 1,854,219 1,721,959 TOTAL FUNDS 1854,219 1,721,959 The charitable company is entitled to exemption from audit under Section 477 of th6 Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its financial statements for the year end8d 31 March 2024 in accordance wilh Section 476 of the Companies Act 2006. The trustees acknowledge Iheir responsibilities for lal ensuring that the charitable company keeps a¢counting fewrds that comply with Sections 386 and 387 ofthe Companies Act 2006 and Ibl preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirement5 of the Companies Act 2006 relating to financial statements, so far as applicabl8 to the charitable company. The notes fomi part of these financial statements Page 4 continued...
Hind Cultural Balance Sheet- continued 31 March 2024 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies gIme. The financial statements were approved by thé Board of Trustees and authorised for issue on................. and were signed on its behalf by.. VIY•J .ICu V Kumar- President Dipak Goél - Treasurer The notes fomi part of these financial statements Page 5
indu Cultural ocie Notes to Ihe Financial tatements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basls of preparlng the financial Statements The financial statements of thè charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 1021 'Accounting and R8POrting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordanc8 Wlth the Financial Reporting Stsndard applicable in the UK and Republic of Ir8lané IFRS 1021 {effective 1 January 2019)., Financial Reporting Slandard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. Th8 financial statements have b8én preparéd under the historical cost convention. Income All inccma is recognis6d in the Ststement of Financial Activities once the charity has entitlement to the funds, it is.'probable Ihat the income wll be received and th8 amount be measured reliably. Expenditure Liabilities are recognised as exp0nditu as soon as the is a legal or constructive obligation ommitting th6 charity to that expénditure, il is pr.obable that a transfer of economic ben6fils 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. Tangible fixed assèts Depreciation is provided at the following annual rat05 in ordér to write off each asset ov•r its eslimated useful life. Taxation The charfty is exempt from corporation tax on its charitable activities. Fund accounting Unrestricled funds can be used in accordance wlh the charitable objectives at the discrots'on of the Iruslees. Restricted funds can only be used for particular restricted purposes wlhin 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 inGluded in the notes to the financial statements. Pension costs and other post-retlrement benefits The charitable company op•ratgs a defined contribution pension s¢hgme. Contributions payable to the charitable companls pension scheme are charged to Ihe Statement of Financial Activities in the p8riod lo which they relate. Pag8 6 continued...
indu ultural Socie Notes lo the Financial Statements - continued for the Year Ended 31 March 2024 OTHER TRADING ACTIVITIES 31.3.24 31.3.23 Festival Programme 8,000 INVESTMENT INCOME 31.3.24 31.3.23 Deposit account interest 20,435 5,163 RAISING FUNDS Investment management costs 31.3.24 31.3.23 Property r8pairs 3,077 10,617 NET INCOMEI{EXPENDITUREI Net income/{expenditurel is stst&d after chargingl(creditingl'. 31.3.24 31.3.23 Depreciation - owned assets 339 398 TRUSTEES. REMUNERATION AND BENEFITS Thére were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor forthe year ended 31 March 2023. Trustees, expensos There wérè no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. Page 7 continued...
Hindu ral ocie Notes to the Financial Statements - continued for the Year Ended 31 March 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and18ga¢ies 244,254 Investment income 5,163 Total 249,417 EXPENDITURE ON Raising funds 105,540 Other 26,098 Total 131,638 NET INCOME 117,779 RECONCILIA TION OF FUNDS Total funds brought fOard 1,804,180 TOTAL FUNDS CARRIED FORWARD 1,721,959 TANGIBLE FIXED ASSETS Freehold property Plant and machinery Totals COST At 1 April 2023 and 31 March 2024 881,235 53,575 934.810 DEPRECIATION At 1 Awil 2023 Charge for yèar 51,315 339 51,315 339 Al 31 March 2024 51,654 51,654 NET BOOK VALUE At 31 March 2024 881,235 883,156 At 31 March 2023 881,235 2,260 883,495 Page 8 continued...
u Cultural Notes to the Financial tatements - continued forthe Year Ended 31 March 2024 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trad8 debtors 559 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade creditors 4,298 3,153 11. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestrlcted funds General fund 1,721,959 132,260 1,854,219 TOTAL FUNDS 1,721,959 132,280 1,854,219 Net movemenl in funds, included in the above are as follows.. Incoming Resources Movement resources expended in funds Unrestrlcted funds General fund 322,110 {189.850) 132,280 TOTAL FUNDS 322,110 189.850 132,260 Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestricted funds General fund 1,604,180 117,779 1,721,959 TOTAL FUNDS 1,804,180 117,779 1,721,9S9 Page 9 continued...
Hind Cultural Notes to the Financial Statements - continued for the Year Ended 31 March 2024 11. MOVEMENT IN FUNDS- continued Comparative net movement in funds, included in the atove are as follows.. Inwming R8sourc8s Movement resourcas èxpended in funds Unrestricted funds General fund 249,417 (131,638) 117,779 TOTAL FUNDS 249,417 131,638 117,779 A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funcls At 31.3.24 At 1.4.22 Unrestricted funds General fund 1,604,180 250,039 1.854,219 TOTAL FUNDS 1,804,180 250,039 1,854.219 A current year 12 months and prior yéar 12 months combined net movement in funds, included in the above are as follows.. Incoming Resources Movement resources expanded in funds Unrestricted fund$ General fund 571,527 1321,4881 250.039 TOTAL FUNDS 571,527 321,488 250,039 Page 10 conkn'nued...
Hindu ral Socie Notes to the Financial Statements - continuèd for the Year Ended 31 March 2024 12. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. Page11
Hindu ultu Detailed Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Donations and18gacies Gifts Donations Gift aid 293,673 235,814 8,440 293.675 244,254 Other tradlng activities Festival Programme 8,000 Investment income Deposit account interest 20,435 5,163 Total incoming resources 322,110 249,417 EXPENDITURE Other trading artivities Purchases 25,906 Investment management costs Property rgpairs 3,077 10,617 Other Wages Soaal security Pensions Equipmenl Hire Plant and machinery 35,571 2,Ce3 496 1,451 339 25,236 466 396 39,920 26,098 Support costs Management Rates and water Insurance Light and heat Telephone Postage and stationery Sundries Carried foNard 1,799 3,900 47,129 5,110 3,535 22,677 1,462 912 54,236 32,784 This page does not forn part of Ihe statutory ffinancial statements Page 12
Hindu ultural ocie Detailed Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 Management Brought forward Cleaning and Waste Removal Donations Health and Safety Coach Hire HR Expensé Soffvare Temple Security Festive Expenses Plant and machinery 54,236 20,167 713 2,636 7,415 933 715 4,836 12,448 32,784 19,401 1,258 399 103,899 54,730 Flnance Rates and water T61ephone Bank charges 6,239 1,802 180 8,221 208 Govemance costs Accountancy and legal fees 8,827 4,119 Total resources expended 189,850 95,772 Net in¢ome 132,260 153,645 This page does not tomi part of the statutory financsal ststements Page 13