**REGISTERED CHARITY NUMBER: 269067** **BRITTANIA HINDU (SHIVA) TEMPLE TRUST REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** Albury Associates Limited Chartered Accountants & Statutory Auditor 2nd Floor, One Hobbs House, Harrovian Business Village Bessborough Road Harrow Middlesex HA1 3EX **BRITTANIA HINDU (SHIVA) TEMPLE TRUST** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ||**Page**| |---|---| |**Report of the Trustees**|1 to 4| |**Report of the Independent Auditors**|5 to 8| |**Statement of Financial Activities**|9| |**Statement of Financial Position**|10| |**Statement of Cash Flows**|11| |**Notes to the Statement of Cash Flows**|12| |**Notes to the Financial Statements**|13 to 19| **BRITTANIA HINDU (SHIVA) TEMPLE TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** The trustees present their report with the financial statements of the charity for the year ended 31 March 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). ## **OBJECTIVES AND ACTIVITIES** ## **History, policies and objectives** The Brittania Hindu (Shiva) Temple Trust was created by the Hindu Association of Great Britain on 17 August 1974 with a governing Constitution that was approved on the same day. The Constitution was amended on 4 October 1975, 26 July 1976, 18 August 1996 and 26 February 2016. The objectives of the charity are to establish Hindu (Saiva) Temples where rituals can be conducted with special emphasis on Saivaism according to the tradition in Tamil Nadu, India and Ceylon (Sri Lanka). Further objectives include providing a place for cultural programmes, educational programmes and charitable events to take place. Further information about the Organisation, its objectives and events and programs can be found on https://highgatehillmurugan.org/. ## **Activities undertaken to achieve objectives** The Charity opens the Temple daily to allow all its members to come and worship at a suitable time for them. The Charity also runs a cultural school in the Temple and organises additional events for the local members and worshipers in order that they can experience learning in a fun environment amongst their peers. 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. ## **Volunteers** In common with all charities the Charity is heavily reliant on the contribution made by a number of volunteers who aid the day to day management of the Temple. The Trustees would like to thank all the volunteers for their hard work and dedication to the successful running of the Temple. ## **ACHIEVEMENT AND PERFORMANCE Charitable activities Cultural Programmes** The music of Nadhaswaram accompanied by Melam is a religious and cultural music played in almost all the Temple festivals in South India, and in Tamil speaking Northern, Eastern and Upcountry areas of Sri Lanka, Mauritius, Malaysia, and Singapore. The Temple provided similar facilities in a small way during the 17-day annual festival and during some special events. - 1 Othuvars (devotional singers dedicated to Shiva Temples) participate on festival days. - 2 Kavadi (a semi-circular decorated artistic wooden structure is placed on the shoulder of the devotees) Milk pots carrying in front of the Deities in January Thai Poosam. - 3 Kantha Puranam recital with the guidance of Chairman of the Religious education committee takes place for 14 days before Sooran Por, with the active participation of the devotees. Page 1 **BRITTANIA HINDU (SHIVA) TEMPLE TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** ## **ACHIEVEMENT AND PERFORMANCE** ## **Educational Programmes** Most of the local schools visit with their pupils for religious educational purpose. The religious committee show them around and share their knowledgeof the Temple, it's history and culture with the visitors The temple offers its facility to the Local community and neighbourhood for their meetings and gatherings The Temple halls are used for social functions, cultural activities, wedding celebrations, remembrance ceremonies, meetings, and religious discourse. The Trust organises annual seminars where religious topics are discussed in depth. Founder's Day is a temple-organised event creating opportunities for young Hindus to participate in Music and Elocution contests. The Trust is an active member of the Hindu Council of United Kingdom, Interfaith groups, and the Federation of Saiva Temples in United Kingdom. This federation publishes an annual calendar giving all auspicious times and a listing of all Hindu events. The Federation organises a two-day annual conference inviting eminent Hindu scholars (Saiva) and Saints from many countries. ## **Charitable Events** The social and cultural committee with the support of the other committee members and the volunteers organise two events namely New year festival and Deepavali Vizla. The purpose of this events is to promote and provide young Carnatic musician a platform to showcase their musical ability to an audience. The temple library within the complex is open during temple opening time to take advantage on religious material During the Navaratri festival, which consists of nine days, Carnatic music teachers been given the opportunity to involved their students to provide musical and vocal programmes ## **FINANCIAL REVIEW** ## **Transactions and Financial Position** The financial statements are set out on pages 6 to 16. 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 Financial Activities showed net income for the year of £563,891 (2022: £142,297). The net income comprises of the net income from regular activities amounting to £129,634 and income from introduction of gold amounting to £434,257. The total reserves at the year end amounted to £7,775,604 (2022: £7,211,713). ## **Principal funding sources** Apart from the income generated by Donations, the principal funding sources for the Charity are currently by way of: - Donations towards specific projects. - Devotees' contributions towards special services provided in the Temple. - Income from payments by devoting these for this service is provided by the Priest outside of the Temple. - Contributions from divinities and members for the use of the Function Hall. - Rent received from the rental of investment properties held by the Charity. - Gift Aid 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 2 **BRITTANIA HINDU (SHIVA) TEMPLE TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** ## **FINANCIAL REVIEW** ## **Reserves policy** The Trustees and Management Committee have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ('free reserves') held by the charity should be between 9 to 12 months of the resources expended, this equates to approximately £220,000 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. ## **FUTURE PLANS** The Temple embarked upon an extended renovation programme, with work commencing in April 2024. The budgeted expenditure is expected to be between £300,000 and £350,000. The work involves substantial renovation of the property. The enhancement of the property will enable the Temple to provide substantially improved and variable facilities to its members, the local community and well-wishers The Trustees are working on plans to extend the variety of events going forward.. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a written Constitution, as an unincorporated charity. ## **Organisational structure** The Charity is managed by its Trustees and the Management Committee, having an affiliation with similar organisations in Fiji, Malaysia, Singapore, India, Ceylon (SriLanka), Mauritius, South Africa and many other territories, ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 269067 ## **Principal address** 200A Archway Road London N6 5BA ## **Trustees** **From 01 April 2022 to 30 September 2022** Mr S. M. Srikantha Chairman Mr A. Vairavamoorthy Treasurer Mr C. Canagasundaram Secretary Dr V. P. Narayana Rao Mr K. Nagarajah Mr M. Perinpanathan **From 01 October 2022 to 31 March 2023** Mr K. Nagarajah Chairman Mr P. Barthipan Treasurer Mr T. Kankeran Secretary Dr V. P. Narayana Rao Mr S. M. Srikantha Mr S. Sothilingam Mr A. Vairavamoorthy ## **Advisory Council** Mr K. Nagarajah Chairman Mr M. Perinpanathan Secretary Page 3 BRI￿ANIA HINDU ISHIVAI TEMPLE TRiIST RepoRT OF THE TRUSTEES FOR THE YEAR ENDED 31 hlARCH 2023 REFERENCE AND ADMINISTrAThE DETAILS Auditor¥ bury Assodat•s Limited Chartered Ac¢ounlants & Statutory Auditor 2nd Floor. One Hobbs House, Narrovian Bu8ings5 VIWe Bessboro￿h Road Harrow MlddK858X HAI 3EX ACCOUNTANTS Fl8xi Financial Accountant Floxi House 250 IrnFwlal Ddve Rayn8r5 Lane Harrow HA2 7HJ Barday¥ 88nk mbkedon P￿sInesS Centr• London SW19 7JZ 16 ￿rnb￿l Hll Road Lwdon SW197NN TRUSTees' RESPONSIBIUTY STATEMEiir The 1ru$teeSare￿SponSi)E8f0rpr¢p?rIngthe ReportollheTN8tees and th•fin•ntial $t8tsrYpnts in•¢¢othn¢gwth 9Oir3b law and Untted AceountirvJ Standards Iunlted lQngdom Genernty Aetspted Aeeowlting Prattw￿l. The law applicable to charibes in Ertgland arHI Wales. th8 Charlie8 Act 2011. Charfty (Accounts ar￿ Reptytsl Regulati¢ 2008 and thè provi5ton¥ ol the trust de￿ requires th8 trus188S to pr8parg fin8nclal 8tatements for •a¢h financlal year which a true and faif Vtew ol the stala ol affairn of th8 chority and of the incoming re8ource$ a￿1 8pplrAl¢on of resourtes, IndudiThJ the Incoma and 9X￿[KlIt￿O, ofthe charty for that perfod. In prap81ing Ihosg finanryal #tstsrnents, thg tntstees are r8tyurBd to select suitabK8 aC￿u￿t￿￿J polrAes and then Appty tham C￿n$[stantly.. observe th8 mothcd5 and prinopl86 In the Charity SORP: make judgements and estirnates that Br8 reasonalAe 8nd prudgnL state whether appIl￿ble aecounting Stsndard¥ ha¥e b￿rt folltyved, subject to any mat•r4al d8partur•s disdosed aThJ explained in Ihe finanaal statements: p￿pare the fin8noal stat8m8nls on th• going eorKem ba* unkni il 1$ inapproprlate to P￿uMe that tho th8rlty ccntinug in business. The trustees am r88pon8iblg for keeplng propèr 8coJunthng records wtht¢h dkndose wllh r•asonabl• arxur8Cy at any tim8 thé rJn•nrA81 posrfon of Ihe ¢harity athj lo enab18 them to ¢nsur8 Ihat the fin4ntsal ststernonts contply w¢th th8 Ch8rib88 Act 2011. t1￿ Charity IA¢counts and Reports) Re9ulation$ 20r18 and the provi¥ton5 Qf the trust deeil. are responslble for s&te9uarding the assets ¢f th• charity 8￿j hence for laklry rea8CfflBÈ49 8teps far w•wnl¢n and dateG1￿m of frBud and other irregular1t￿. Approved by I)￿•r ofthe board oftrust•es on 27 OctLthr 2024 and s￿Jn￿ on Its bohawty. Ip¥n-Trusta• **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF BRITTANIA HINDU (SHIVA) TEMPLE TRUST** ## **Opinion** We have audited the financial statements of Brittania Hindu (Shiva) Temple Trust (the 'charity') for the year ended 31 March 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 March 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. ## **Key audit matters** Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial statements for the year ended 31 March 2023. These matters were addressed in the context of the financial statements as a whole and in forming our opinion thereon, and we do not provide a separate opinion on these matters: - **Fixed Assets** :The Charity is required to disclose all monetary and nonmonetary donations and benefits received from well-wishers. Our findings discovered that certain non-monetary donations were not included in the previous years financial statements. Our audit work revealed that these non-monetary donations were received from well-wishers over a number of years. All items identified have been included in the Statement of Financial Position as at 31 March 2023 with the corresponding introduction being disclosed as Restricted Donations received. - **Fixed Assets:** The charity is required to distinguish between assets held for its core purpose and for their income potential, as distinguished from other assets. Given the significant value of these assets, they are required to be disclosed as Restricted Funds. Our findings discovered that certain assets, that were of significant importance to the core value and purpose of the charity, were not treated as Restricted Funds in the previous years financial statements. All significant assets identified as being required for the existence of the charity have been included in the Statement of Financial Position as at 31 March 2023 as Restricted Funds with the corresponding amounts being disclosed a transfer from Unrestricted Funds to Restricted funds during the year. ## **Other Matters** Other matters are those matters that, in our professional judgement, were of most significance in our audit of the financial statements for the year ended 31 March 2023. These matters were addressed in the context of the financial statements as a whole and in forming our opinion thereon, and we do not provide a separate opinion on these matters: - **Auditors - 31 March 2022:** The financial statements of Brittania Hindu (Shiva) Temple Trust for the year ended 31 March 2022 were audited by another auditor who expressed an unqualified opinion on those statements on 13 March 2023. - **Auditors - 31 March 2023:** We were not appointed as auditor of the charity until 2 May 2024 and thus were not able to physically verify the fixed assets or confirm the balances in the bank accounts as existing at the year end date. However, we have satisfied ourselves that the fixed assets and the amounts disclosed in the bank accounts existing on 31 March 2023 by use of additional and alternative audit procedures. Page 5 **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF BRITTANIA HINDU (SHIVA) TEMPLE TRUST** ## **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. ## **Responsibilities of trustees** As explained more fully in the Trustees' Responsibilities Statement, 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. Page 6 **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF BRITTANIA HINDU (SHIVA) TEMPLE TRUST** ## **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 7 BRirrANIA HINOU ISHIVAI TEMPLE TRiK8T ofow r•port This r8POrt ￿ rnade •lo fv c*arfVslnAlees, asa byb. in ac¢x>rrlaTh*wfth Part4 Ch8rflr•s (Accounts and Reports) RaguLation5 2008. Our autht￿rk ha8 W undertakn 80 that￿ ￿￿3h1 51at8 to the clwitys trustees Ihose mat*r¥ wo we required tostate to Iham inan auéitorn, repryI0￿1 hr noOth8rpurp￿e. Totr*lthstextsrrtpemknd by law. wedo not a or assume ￿SponSI￿1￿ tOanyo￿ 0th8rthkn dwrity arrtl the chwitrhtn4lees as o brxty. f0r0ura￿Jit￿lIth. lorthLs r8POrt Chartered A¢countsnts & SlaknrtoryAwf 2nd Floor, One H¢Jbbs Htyjso. H8rrovian B￿lnesS Viw 885sb0ro￿h Road HaN¢yw Mlddles•x HA13EX 27 O¢tab8r 2024 **BRITTANIA HINDU (SHIVA) TEMPLE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Investment income
3
**Total**
**EXPENDITURE ON**
Raising funds
4
**Charitable activities**
5
Management & Administration
Investment Management costs
Other
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
**211,150**
**247,536**
**458,686**
**36,861**
**240,907**
**51,284**
**6,970,636**
**7,299,688**
**(6,841,002**)
**7,164,929**
**323,927**|Restricted
fund
£
**434,257**
**-**
**434,257 **
**-**
**-**
**-**
**(6,970,636**)
**(6,970,636**)
**7,404,893**
**46,784**
**7,451,677**|**2023**
**Total**
**funds**
**£**
**645,407**
**247,536**
**892,943**
**36,861**
**240,907**
**51,284**
**-**
**329,052 **
**563,891**
**7,211,713**
**7,775,604**|2022
Total
funds
£
154,230
265,562
419,792
37,402
198,440
41,653
-
277,495
142,297
7,069,416
7,211,713| |---|---|---|---|---| The notes form part of these financial statements Page 9 BRITfANIA HINDU18HIVA) TEMPLE TRUST STATEMENT OF FINANCIAL P08tnoN 31 hiARCH 2023 2023 Total fuftd• Unr8Stb*t•d fund R•strict•d fund Total fund8 FIXED ASSETS Tttngib￿ a58818 Invutm•nt prop•ty 11 12 17M81 3N14,893 3.032.364 2.814,824 . ￿90 000 4 390 000 17A81 7.104M93 7N22J54 7,004,824 CURRENT A8SET8 13 891 723138 33,882 Cash at bank and In hiThl e76.945 48.704 723,729 e08,051 CREDITOR8 AnKwnts foWrv4 duo %4llhln ona y•Ar 14 {46808) IS2.S991 NET CURRENT A88ET8 8J1 878 555 452 TOTALA8SET8 LE88 CURRENT LIABILmE8 7h01077 100,678 7,580.278 CREDrroRS Amounts lalllng du• aft•r mor• th•n ¢)n• y••r 15 1320.0711 1326.071) 1348.S83) NET A&ryET8 7211713 FUNOS Vnro$tdctod l￿dI R•¥tdthd fu 17 323,927 7.164,929 TOTAL FUNI)3 7211713 Tho finaneial atat8meTrts apP￿¥•d by th• Boord of TnJ•te•8 and aLthorf••d for18iu• on 27 Othb•r2024 ard ￿rfr •èn•d on Its by.. Mr Par•manAth pan-Tr￿te0 arAiah- Trn8tg9 Tho notes form p8rt01 th••• finandal 8t*rngnls Page 10 **BRITTANIA HINDU (SHIVA) TEMPLE TRUST** ## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023** |Notes
**Cash flows from operating activities**
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|**2023**
**£**
**600,252**
**(17,675)**
**582,577**
**(434,257)**
**449**
**(433,808) **
**148,769**
**574,369**
**723,138**|2022
£
109,714
-
109,714
(730)
239
(491)
109,223
465,146
574,369| |---|---|---| The notes form part of these financial statements Page 11 **BRITTANIA HINDU (SHIVA) TEMPLE TRUST** ## **NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023** ## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES** |**Net income for the reporting period (as per the Statement of Financial**
**Activities)**
**Adjustments for:**
Depreciation charges
Interest received
Interest paid
Decrease in debtors
Decrease in creditors
**Net cash provided by operations**|**2023**
**£**
**563,891**
**16,727**
**(449)**
**17,675**
**33,091**
**(30,683)**
**600,252 **|2022
£
142,297
16,725
(239)
-
1,813
(50,882)
109,714| |---|---|---| ## **2. ANALYSIS OF CHANGES IN NET FUNDS** ||At 1/4/22|Cash flow|**At 31/3/23**| |---|---|---|---| ||£|£|**£**| |**Net cash**|||| |Cash at bank and in hand|**574,369**|**148,769**|**723,138**| ||**574,369**|**148,769**|**723,138**| |**Debt**|||| |Debts falling due within 1 year|**(41,467)**|**11,331**|**(30,136)**| |Debts falling due after 1 year|**(348,563)**|**23,492 **|**(325,071)**| ||**(390,030)**|**34,823**|**(355,207)**| |**Total**|**184,339**|**183,592**|**367,931**| The notes form part of these financial statements Page 12 **BRITTANIA HINDU (SHIVA) TEMPLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **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. ## **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|- 33% on reducing balance| |---|---| |Fixtures and fittings|- 33% on reducing balance| Although the Companies Act require the systematic annual depreciation of fixed assets, the directors believe the policy of not providing depreciation on freehold property is necessary in order for the financial statements to give a true and fair view, since the current value of the property, and changes to that value, are of primary importance rather a calculation of systematic annual depreciation. Depreciation is only one of the many factors reflected in the annual valuation and the amount that might otherwise have been included cannot be separately identified or quantified. Jewellery is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. ## **Investment property** Although the Companies Act require the systematic annual depreciation of fixed assets, the directors believe the policy of not providing depreciation is necessary in order for the financial statements to give a true and fair view, since the current value of properties, and changes to that value, are of primary importance rather a calculation of systematic annual depreciation. Depreciation is only one of the many factors reflected in the annual valuation and the amount that might otherwise have been included cannot be separately identified or quantified. ## **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 or if the nature of the asset is so significant that it's loss result in the underlying essence of the objectives of the Charitable Organisation being severly curtailed. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Pension costs and other post-retirement benefits** The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Page 13 **BRITTANIA HINDU (SHIVA) TEMPLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** ## **2. DONATIONS AND LEGACIES** |Donations
Exceptional items
**3.**
**INVESTMENT INCOME**
Rents received
Interest receivable
**4.**
**RAISING FUNDS**
**Raising donations and legacies**
Flowers & Garlands
Special Pooja Expenses
**5.**
**CHARITABLE ACTIVITIES COSTS**
Management & Administration
Investment Management costs|Direct
Costs
£
**200,914**
**51,284 **
**252,198**|**2023**
**£**
**211,150**
**434,257 **
**645,407**
**2023**
**£**
**247,087**
**449**
**247,536**
**2023**
**£**
**30,711**
**6,150**
**36,861**
Support
costs (see
note 6)
£
**39,993**
**-**
**39,993**|2022
£
154,230
-
154,230
2022
£
265,323
239
265,562
2022
£
25,104
12,298
37,402
Totals
£
**240,907**
**51,284 **
**292,191**| |---|---|---|---| Page 14 **BRITTANIA HINDU (SHIVA) TEMPLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** ## **6. SUPPORT COSTS** |Management & Administration|Finance
£
**23,153**|Governance
Other
costs
£
£
**300**
**16,540**|Totals
£
**39,993**| |---|---|---|---| ## **7. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. ## **8. STAFF COSTS** |Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Charitable Activities
Administration|**2023**
**£**
**42,535**
**150**
**42,685**
**2023**
**2**
**2**
**4**|2022
£
46,255
-| |---|---|---| |||46,255| |||2022
2
2
4| No employees received emoluments in excess of £60,000. ## **9. EXCEPTIONAL ITEMS** Since its inception, the Charity has received substantial donations in the form of Jewellery items for display and worship purposes. The Trustees have discovered that, historically, no record was maintained of the items received and that have accumulated to a substantial value over time. To introduce the assets to the Financial Statements, the Trustees have included them at current valuation, in the Restricted Funds category of the statement of financial position, based on independent third-party valuations obtained from specialists. All items have been introduced to the Financial Statements in the current year as an Exceptional item. The valuation used amounted to £434,257. Page 15 **BRITTANIA HINDU (SHIVA) TEMPLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** ## **10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Management & Administration
Investment Management costs
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**11.**
**TANGIBLE FIXED ASSETS**
Freehold
property
£
**COST**
At 1 April 2022
**2,580,636**
Additions
**-**
At 31 March 2023
**2,580,636**
**DEPRECIATION**
At 1 April 2022
**-**
Charge for year
**-**
At 31 March 2023
**-**
**NET BOOK VALUE**
At 31 March 2023
**2,580,636**
At 31 March 2022
2,580,636|Plant &
machinery
£
**82,678**
**-**
**82,678**
**79,146**
**1,760**
**80,906**
**1,772**
3,532||Unrestricted
fund
£
154,230
265,562
419,792
37,402
198,440
41,653
277,495
142,297
7,022,632
7,164,929
Fixtures
and
fittings
£
**292,228**
**-**
**292,228**
**261,572**
**14,967 **
**276,539**
**15,689**
30,656||Restricted
fund
£
-
-
-
-
-
-
-
-
46,784
46,784
Jewellery
£
**-**
**434,257 **
**434,257**
**-**
**-**
**-**
**434,257**
-||Total
funds
£
154,230
265,562
419,792
37,402
198,440
41,653
277,495
142,297
7,069,416
7,211,713
Totals
£
**2,955,542**
**434,257 **
**3,389,799**
**340,718**
**16,727**
**357,445**
**3,032,354**
2,614,824| |---|---|---|---|---|---|---|---| ||||||||| ||||||||| ||||||||| ||||||||| ||||||||| Page 16 **BRITTANIA HINDU (SHIVA) TEMPLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** ## **12. INVESTMENT PROPERTY** |**12.**
**INVESTMENT PROPERTY**|||| |---|---|---|---| |**FAIR VALUE**
At 1 April 2022
and 31 March 2023
**NET BOOK VALUE**
At 31 March 2023
At 31 March 2022
**13.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Prepayments
**14.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 16)
Trade creditors
Other creditors
**15.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Bank loans (see note 16)
**16.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years|**2023**
**£**
**-**
**591**
**-**
**591**
**2023**
**£**
**30,136**
**-**
**15,272**
**45,408**
**2023**
**£**
**325,071**
**2023**
**£**
**30,136**
**325,071**|**£**
**4,390,000**
**4,390,000**
4,390,000
2022
£
28,590
2,525
2,567
33,682
2022
£
41,467
5,132
6,000
52,599
2022
£
348,563
2022
£
41,467
348,563|| ||||| ||||| ||||| Page 17 **BRITTANIA HINDU (SHIVA) TEMPLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** ## **17. MOVEMENT IN FUNDS** |At 1/4/22
£
**Unrestricted funds**
General fund
**7,164,929**
**Restricted funds**
Restricted Funds
**46,784**
**TOTAL FUNDS**
**7,211,713**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
**458,686**
**Restricted funds**
Restricted Funds
**434,257**
**TOTAL FUNDS**
**892,943**
**Comparatives for movement in funds**
At 1/4/21
£
**Unrestricted funds**
General fund
7,022,632
**Restricted funds**
Restricted Funds
46,784
**TOTAL FUNDS**
7,069,416
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
419,792
**TOTAL FUNDS**
419,792|Net
movement
in funds
£
**(6,841,002)**
**7,404,893**
**563,891 **
Resources
expended
£
**(7,299,688)**
**6,970,636**
**(329,052)**
Net
movement
in funds
£
142,297
-
142,297
Resources
expended
£
(277,495)
(277,495)|At
31/3/23
£
**323,927**
**7,451,677**
**7,775,604 **
Movement
in funds
£
**(6,841,002)**
**7,404,893**
**563,891 **
At
31/3/22
£
7,164,929
46,784
7,211,713
Movement
in funds
£
142,297
142,297| |---|---|---| |||| |||| Page 18 **BRITTANIA HINDU (SHIVA) TEMPLE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** ## **17. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Restricted Funds
**TOTAL FUNDS**|At 1/4/21
£
7,022,632
46,784
7,069,416|Net
movement
in funds
£
(6,698,705)
7,404,893
706,188|At
31/3/23
£
323,927
7,451,677
7,775,604| |---|---|---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|878,478|(7,577,183)|(6,698,705)| |**Restricted funds**|||| |Restricted Funds|434,257|6,970,636|7,404,893| |**TOTAL FUNDS**|1,312,735|(606,547)|706,188| ## **18. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 March 2023. Page 19