**REGISTERED CHARITY NUMBER: 271034** 

## **REPORT OF THE TRUSTEES AND** 

**AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **FOR** 

**SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 



**SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** 

|||**Page**||
|---|---|---|---|
|**Reference and Administrative Details**||1||
|**Report of the Trustees**|2|to|7|
|**Report of the Independent Auditors**|8|to|11|
|**Statement of Financial Activities**||12||
|**Statement of Financial Position**||13||
|**Statement of Cash Flows**||14||
|**Notes to the Statement of Cash Flows**||15||
|**Notes to the Financial Statements**|16|to|23|





**SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

**REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **TRUSTEES** 

Mr Suresh Shivji Rabadiya President Mr Vishram Vaghji Patel Holding Trustee Mr Kanji Manji Kerai Vice President Mr Rikin Dinesh Kerai Secretary Mr Lalit Karsan Bhanderi Treasurer MR Dharmendra Devji Jesani Assistant Treasurer Mr Harice Jesani Assistant Secretary Mr Mansukh Karsan Vaghji Holding Trustee Mr Devji Karsan Patel Holding Trustee and committee member Mr Shivji Naran Rabadia Holding Trustee Mr Valji Shamji Dabasia Holding Trustee Mr Dhanji Parbat Patel Holding Trustee 

The Management Committee & Sub Committee members of the Charity as at the year ended 31st December 2022 and at the date of approval of the accounts were: 

|**Other Advisors**|**Co - opted Advisors**|**Kothar**|
|---|---|---|
|Arvind K Bhanderi|Valji Mepani|Laxman Panchani|
|Manji K Hirani|Karsan Rabadia|Valji S Dabasia|
|Arvind P Halai|Mavji Varsani||
|Dhiraj D Patel|Virji Halaria (Patel)||
|Vinesh V Pindoria||**Internal Auditors**|
|Jadavji K Kerai||Nitesh D Mayani|
|Bhavesh D Karsan||Kamlesh J Kerai|
|Naran V Bhudia|||
|Vikash R Bhanderi|||
|Valji V Kara|||



## **PRINCIPAL ADDRESS** 

Westfield Lane Kenton Harrow Middlesex HA3 9EA 

## **REGISTERED CHARITY NUMBER** 271034 

## **AUDITORS** 

Hitesh Gadhia (Senior Statutory Auditor) Shaw Wallace 43 Manchester Street London W1U 7LP 

Page 1 



**SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022** 

The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. 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). The board of trustees are satisfied with the performance of the charity during the year and the position at 31st December 2022 and consider that the charity is in a strong position to continue its activities during the coming year, and that the charity's assets are adequate to fulfil its obligations. 

## **Name, registered office and constitution of the charity** 

|The Principal Office is:|Westfield Lane, Kenton, Harrow, Middx, HA3 9EA|
|---|---|
|Charity Registration Number:|271034|
|Telephone number:|020 8909 9899|



Trustees and professional advisers are presented on page 1. 

Page 2 



**SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **OBJECTIVES AND ACTIVITIES Objectives and aims The charity's aims including the changes or differences it seeks to  make through its activities.** 

The objectives of The Temple shall be to advance and propagate the Hindu Religion according to the teachings of Lord Shree Swaminarayan, and in furtherance of that objective ‘The Temple’ shall be empowered as follows: 

(a) to distribute and disseminate knowledge concerning the teachings 

(b) to promote any charitable purpose in connection with The Temple 

(c) to advance the cultural interest of the devotees of The Temple 

(d) to establish, maintain and manage a centre or centres for activities promoted by The Temple to further any of the objectives contained herein 

(e) to obtain, collect and receive money and funds by way of contributions, donations, subscriptions, grants and any other lawful means and to accept and receive gifts of property of any description (whether or not it is subject to any trust) and use such money, funds and property to further any objectives contained herein. 

## **An explanation of the charity's main objectives for the year.** 

This year we have been getting back to normal opening hours and operations post Covid 19 pandemic and following the government national guidelines. 

We are pleased to note that all main Hindu calendar events were celebrated including Diwali and Ankut utsav (Hindu New Year's day) in October 2022 and Tulsi Vivha in November at our temple. 

Everyone has been enjoying the darshan of our beloved Ghanshyam Maharaj the new Golden Sinhasan. 

The temple organisation continues to support the community by proving food bank services at designated spots through team of dedicated volunteers. 

The other main objectives for the year have been the continued support for the spiritual wellbeing of the congregation by ensuring that adequate administrative resources were available to observe all the regular festivals and cultural activities. 

We have planted 200 seedling trees with Woodland Trust at Kingsbury park earlier in the year which will be planted in Borough of Brent when ready to be planted in other parks / roads as part of our continued tree planting commitment from  our 25th Anniversary. 

We have started a Holistic Centre at Cunningham House and so far we have seen over 300 patients. . We provide physiology, reflexology, healing and sports massage all done by temple volunteers. 

## **Other general pertinent points** 

We have completed the purchase of Hillingdon House which adjoins our Education building and the temple boundary, this process was started in Summer last year.  This will enable us to consider further education facilities. 

Following correspondence with The Charity Commission, they have confirmed that the amended clause 15(B) registration is valid and can be used for new trustee election. 

## **Activities for achieving objectives** 

The Charity celebrated the festivals of Ramnavmi (Birth of Lord Shree Ram and Lord Shree Swaminarayan), Shivratri, Janmashtami (Birth of Lord Shree Krishna) and Diwali (New Year) which forms main events on our annual calendar. 

## **The Charity's donation making policies** 

The Trustees consider making donations to local and other organisations as they deem worthy. Donations are also made cow fodder annually and from time to time for natural disasters and relief around the world. 

Page 3 



**SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **OBJECTIVES AND ACTIVITIES Public benefit** 

The charity has achieved the public benefit objectives by meeting the spiritual requirements of the congregation. We continue to achieve participation by more members by streaming our daily sabhas, arti and discourses on line. All key festival and religious dates are observed and celebrated by the devotees. 

## **Volunteers** 

The Charity depends heavily upon the continuing support of devotees for its success. The efforts and dedication of the volunteers is integral to the prosperity of the Charity. We also thank all volunteers for the hard work during the year, particularly those working within the areas of Prashad preparations, building and facilities management, various educational activities, car park duties, Library, cleaning, organised special events, decorations, Naryal, IT and back office support and other religious activities and pray that they continue to serve Lord Shree Swaminarayan in the future. It is difficult to quantify the number of voluntary hours served by the devotees, for which we remain indebted. 

## **ACHIEVEMENT AND PERFORMANCE** 

## **Charitable activities** 

The Temple celebrated its 56th anniversary since inception. The Temple website is continually updated with additional features and upcoming events notified in timely manner. The Daily Darshan pictures are updated daily and attract daily hits to our web site. The IT team continues to update the infrastructure and support various functions for Temple activities. The Temple supports the Ghanshyam Nursery, which provides valuable support to the community through Grants and facilities. Educational activities supervision including Gujrati, and examination centre. 

## **Investment performance** 

In the Financial Review section of this report, there is a description of the investment policies and objectives established by the Trustees and the extent to which social, environmental or ethical considerations are taken into account. 

## **FINANCIAL REVIEW** 

## **Financial position** 

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). 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 show net surplus, (excluding gains from property revaluation) for the year, of a revenue nature of £965,434 (2021: £857,277) total reserves at the year end stand at £16,829,438 (2021: £15,864,004). 

## **Specific changes in fixed assets** 

Changes in fixed assets are shown in detail in the notes to the financial statements. 

## **Principal funding sources** 

Principal funding sources for the Charity currently are by way of donations in Darshan, Aarti, Thar, Diwali and Ankot. Regular income is also generated by donations via Naryal seva, Tulsi Vivah, Thakar Thari, Hindola, Ramnavmi and Janmashtmi festivals. 

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. 

## **Investment policy and objectives** 

The Trustees' investment powers are covered by the Trustees' governing document and allow the Trustees to invest surplus funds to generate income with which to fund future activities. 

The Trustees' investment policy is to aim for safety, commensurate with immediate and planned spending requirements and given the current uncertainties in the financial markets, the Trustees consider it appropriate to be holding funds in deposit accounts where they achieve a steady return. 

Page 4 



**SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **FINANCIAL REVIEW** 

## **Reserves policy** 

The Executive 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, which equates to £500,000 in general funds: At this Level, the Executive Committee feels that they would be able to continue current activities of the charity. 

Based on the future plans as detailed below, the Executive Committee feels that there are sufficient funds available to meet these 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 Executive Committee will carry out periodic reviews of the progress of objectives stated. 

Restricted funds amounting to £Nil (2021: £Nil) are not available for general purpose. The restricted funds are to be used for the renewal and replacement of the Singhasan including any related costs. 

## **Going concern** 

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. 

## **FUTURE PLANS** 

In 2022, the Trustees carried out a review of the Charity's activities and produced a medium and long term plan as detailed below to enable the Temple to meet its objectives. 

- We will be undertaking the re development of our Charlton Road property.  These are anticipated to be major costs for the next few years. 

- As part of our long term plans, the temple is working towards programmes and facilities for our elderly devotees. 

- To identify and invest in facilities geared towards expanding sporting, cultural and life skills for our members  and the local community. In the current year, the Trustees continued the search for suitable facilities and   fields to achieve this. 

- To facilitate the usage of the Nilkanth Hall and Ghanshyam Hall to obtain maximum benefit for the Temple and devotees. 

- Maintain and improve existing Temple facilities and to fulfil our statutory obligation of hygiene and safety as  well as providing a comfortable and congenial environment for praying. 

- Continue to maintain high standards of the education building including installation of facilities for the  disabled. 

- Continue publication of Literature in English. 

- Organise further Bal Mandal trips and Shibirs. 

- Establish relationships with local schools for religious education. 

- Organise various courses such as First Aid, Heath & Safety etc. 

- Participate in other charity work such as fundraising. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Charity constitution** 

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. 

The Charity was registered on the 1st April 1976 and is governed by its Constitution. The aim of the charity is to advance and propagate the Hindu Religion according to the teachings of Lord Shree Swaminarayan. 

Page 5 



**SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees** 

The Executive Committee is elected annually by the members and comprises of six or more honorary officers and eleven advisors. The Constitution allows the committee to co-opt further members. 

The trustees who served during the year are listed under "Reference and Administrative details" on page 1. 

## **Induction and training of new trustees** 

As part of their induction program, new Trustees are made aware of their responsibilities. This includes an introduction to the objectives, scope and policies of the Charity, the Charity Commission information on Trustees' responsibilities and a copy of the Constitution. Additional training is available to keep up with all new regulations concerning the Charity's activities. 

## **Organisational structure and Decision making** 

Decision making duties are carried out by the Trustees at their monthly meeting. Other ad-hoc decisions are taken by the Trustees with executive positions. 

## **Membership of wider network** 

The charity is affiliated to Shree Swaminarayan Temple of Bhuj, Kutch, India who have no impact on the operating policies adopted by the charity. 

## **Related parties** 

The Ghanshyam Education Trust (GET) is a separate entity, which undertakes the administration and running of educational activities. GET is a charity and a company limited by guarantee, in which the members of SKSST are the Guarantors. The members of the GET are the Trustees named on Page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited. 

GET runs the activities with the support and guidance from the Temple volunteers and the management committee 

## **Risk management** 

The Trustees identify the major risks to which the Charity is exposed to each financial year when preparing and updating a strategic plan, in particular, those areas related to the operations and finances of the Charity. The Trustees then review any major risks which have been identified and establish systems to mitigate those risks. 

Among the major risk of the Charity is the possibility of endangering the worshipper's safety and comfort in any way. This is mitigated by the support of experienced stewards and maintenance teams who ensure that all such aspects are covered by appropriate training and monitoring procedures. 

The Trustees have also put in place appropriate internal controls and monitoring procedures, including budgetary control and review to minimise financial risks. 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** 

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 

Page 6 



**SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued** 

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Approved by order of the board of trustees on 31 October 2023 and signed on its behalf by: 

Mr Harice Jesani - Trustee 

Page 7 



**REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

## **Opinion** 

We have audited the financial statements of Shree Kutch Satsang Swaminarayan Temple (Mandir) London (the 'charity') for the year ended 31 December 2022 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 

## In our opinion the financial statements: 

- give a true and fair view of the state of the charity's affairs as at 31 December 2022 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard. 

## **Matters on which we are required to report by exception** 

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: 

- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or 

- sufficient accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- we have not received all the information and explanations we require for our audit. 

Page 8 



**REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

## **Responsibilities of trustees** 

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

Page 9 



**REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

## **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: 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: 

How the audit was considered capable of detecting irregularities including fraud. 

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows; 

We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: 

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and 

-  considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. 

To address the risk of fraud through management bias and override of controls, we: 

- performed analytical procedures to identify any unusual or unexpected relationships; 

- tested journal entries to identify unusual transactions; 

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of 

- potential bias; and 

- used data analytics to investigate the rationale behind any significant or unusual transactions. 

- agreeing financial statement disclosures to underlying supporting documentation; 

- reading the minutes of meetings    of those charged with governance; 

- enquiring of management as to actual and potential litigation and claims; and 

- reviewing any available correspondence with HMRC and the company's legal advisors (although none was noted as being received by the charity). 

As a result of our procedures we did not identify any key audit matters relating to irregularities. 

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 trustees 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 10 



**REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

## **Use of our report** 

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. 

Hitesh Gadhia (Senior Statutory Auditor) Shaw Wallace 43 Manchester Street London W1U 7LP 

31 October 2023 

Page 11 



## **SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022** 

|Notes<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2<br>**Charitable activities**<br>5<br>Gift Aid Tax Refund<br>Bal Mandal<br>License fee Income<br>Other trading activities<br>3<br>Investment income<br>4<br>**Total**<br>**EXPENDITURE ON**<br>Raising funds<br>6<br>**Charitable activities**<br>7<br>Bal Mandal<br>Management and administration costs<br>Library expenses<br>**Total**<br>Net gains on investments<br>**NET INCOME**<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>**TOTAL FUNDS CARRIED FORWARD**|Unrestricted<br>fund<br>£<br>1,121,683<br>163,936<br>18,716<br>95,000<br>3,366<br>277,970<br>1,680,671<br>456,821<br>20,987<br>236,456<br>973<br>715,237<br>1,524,660<br>2,490,094<br>15,864,004<br>18,354,098|Restricted<br>fund<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|31/12/22<br>Total<br>funds<br>£<br>1,121,683<br>163,936<br>18,716<br>95,000<br>3,366<br>277,970<br>1,680,671<br>456,821<br>20,987<br>236,456<br>973<br>715,237<br>1,524,660<br>2,490,094<br>15,864,004<br>18,354,098|31/12/21<br>Total<br>funds<br>£<br>1,077,994<br>163,754<br>841<br>95,000<br>2,921<br>245,727|
|---|---|---|---|---|
|||||1,586,237|
|||||549,190<br>149<br>178,471<br>1,150|
|||||728,960|
|||||-|
|||||857,277<br>15,006,727|
|||||15,864,004|



## **CONTINUING OPERATIONS** 

All income and expenditure has arisen from continuing activities. 

The notes form part of these financial statements 

Page 12 



## **SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

## **STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2022** 

|Notes<br>**FIXED ASSETS**<br>Tangible assets<br>11<br>Investment property<br>12<br>**CURRENT ASSETS**<br>Stocks<br>13<br>Debtors<br>14<br>Cash at bank and in hand<br>**CREDITORS**<br>Amounts falling due within one year<br>15<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>**NET ASSETS**<br>**FUNDS**<br>16<br>Unrestricted funds<br>**TOTAL FUNDS**|Unrestricted<br>fund<br>£<br>5,445,164<br>5,075,000<br>10,520,164<br>8,174<br>39,153<br>7,963,505<br>8,010,832<br>(176,898)<br>7,833,934<br>18,354,098<br>18,354,098|Restricted<br>fund<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|31/12/22<br>Total<br>funds<br>£<br>5,445,164<br>5,075,000<br>10,520,164<br>8,174<br>39,153<br>7,963,505<br>8,010,832<br>(176,898)<br>7,833,934<br>18,354,098<br>18,354,098<br>18,354,098<br>18,354,098|31/12/21<br>Total<br>funds<br>£<br>5,457,925<br>3,550,340<br>9,008,265<br>8,174<br>59,072<br>7,116,887<br>7,184,133<br>(328,394)<br>6,855,739<br>15,864,004<br>15,864,004<br>15,864,004<br>15,864,004|
|---|---|---|---|---|



The financial statements were approved by the Board of Trustees and authorised for issue on 31 October 2023 and were signed on its behalf by: 

Mr Vishram Vaghji Patel - Trustee 

Mr Harice Jesani - Trustee 

The notes form part of these financial statements 

Page 13 



## **SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022** 

|Notes<br>**Cash flows from operating activities**<br>Cash generated from operations<br>1<br>Net cash provided by operating activities<br>**Cash flows from investing activities**<br>Purchase of tangible fixed assets<br>Interest received<br>Net cash used in investing activities<br>**Change in cash and cash equivalents in the**<br>**reporting period**<br>**Cash and cash equivalents at the beginning**<br>**of the reporting period**<br>**Cash and cash equivalents at the end of the**<br>**reporting period**|31/12/22<br>£<br>861,771<br>861,771<br>(46,149)<br>30,996<br>(15,153)<br>846,618<br>7,116,887<br>7,963,505|31/12/21<br>£<br>1,165,325<br>1,165,325<br>(80,637)<br>3,640<br>(76,997)<br>1,088,328<br>6,028,559<br>7,116,887|
|---|---|---|



The notes form part of these financial statements 

Page 14 



**SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

## **NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022** 

|**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|
|---|---|---|---|---|---|
||||31/12/22||31/12/21|
||||£||£|
||**Net income for the reporting period (as per the Statement of Financial**|||||
||**Activities)**||2,490,094||857,277|
||**Adjustments for:**|||||
||Depreciation charges||58,908||59,647|
||Losses on investments||(1,524,660 )||-|
||Interest received||(30,996)||(3,640)|
||Decrease in stocks||-||699|
||Decrease in debtors||19,921||94,275|
||(Decrease)/increase in creditors||(151,496)||157,067|
||**Net cash provided by operations**||861,771|1,165,325||
|2.|**ANALYSIS OF CHANGES IN NET FUNDS**|||||
|||At 1/1/22|Cash flow|At 31/12/22||
|||£|£||£|
||**Net cash**|||||
||Cash at bank and in hand|7,116,887|846,618|7,963,505||
|||7,116,887|846,618|7,963,505||
||**Total**|7,116,887|846,618|7,963,505||



The notes form part of these financial statements 

Page 15 



**SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **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, as modified by the revaluation of certain assets. 

## **Incoming resources** 

Income from donations and grants, including capital grants, is Included when these are receivable, except as follows: 

- investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from changes in the fair value are recognised in Statement of Financial Activities in the period that they arise. 

- When donors impose conditions which have to be fulfilled before the charity becomes entitled to use  such income,  the  income  is  deferred  and  not  included  in  incoming  resources  until  the preconditions for use have been met. 

- When  donors  specify  that  donations  and  grants,  including  capital  grants,  are  for  particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable. 

- Gifts in kind are valued by the amount stated on the receipt if provided by the donor. Where no receipt is available, the items are valued by multiplying the weight with the prevailing price on the respective precious metal or commodity exchange in London at the respective wholesale price of each, plus a fixed value for labour per gram. 

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 

## **Interest receivable** 

Interest receivable is recognised in Statement of Financial Activities as they accrue, using the effective interest method. 

## **Resources expended** 

The policy for including items within the relevant activity categories of resources expended is that expenditure is charged to the Statement of Financial Activities on an accruals basis, inclusive of VAT which cannot be recovered and is classified as follows: 

## **Costs of generating funds** 

The costs of generating funds comprise the costs associated with attracting voluntary income. 

## **Charitable activities** 

Charitable expenditure shall include all expenditure directly related to the objects of the charity including the following:- 

Activities in furtherance of the charity's objectives and aims. 

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature to support them. 

## **Governance costs** 

Governance costs shall include all expenditure directly related to the administration of the charity including expenditure incurred in the management of the charity's assets, organisational administration and compliance with charitable and statutory requirements. 

Page 16 

continued... 



**SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **1. ACCOUNTING POLICIES - continued** 

## **Allocation of costs within types of resources expended** 

The methods and principles for the allocation and apportionment of all costs between the different activity categories of resources set out above are:- 

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources. 

## **Tangible fixed assets** 

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: 

|Freehold property|1%  Straight line basis|
|---|---|
|Furniture & Equipment|20% Reducing Balance|
|Murtis & Valuables|NIL|



Freehold buildings have been depreciated at 1% as the Charity follows a program of regular refurbishment and maintenance of its properties. This includes reinstatement of the fabric of buildings, where necessary, in order to maintain them to the highest level. Accordingly, in the opinion of the Trustees,the depreciation provided is appropriate. 

## **Investment property** 

Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at costs. 

Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from changes in the fair value are recognised in Statement of Financial Activities in the period that they arise. 

## **Stocks** 

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. 

## **Taxation** 

As a registered charity, the charity is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities. 

## **Fund accounting** 

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. 

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 

continued... 

Page 17 



**SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **1. ACCOUNTING POLICIES - continued** 

## **Judgments and key sources of estimation uncertainty Sources of estimation uncertainty** 

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of the assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates is  revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 

The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below: 

- Fair value of investment property - The investment property valuation contains a number of assumptions upon which the trustees and the property agent have based their valuations of the property. The assumptions on which the property valuations reports have been based include, but are not limited to, matters such as the tenure and tenancy details for the properties, ground conditions at the properties, the structural conditions of the properties, prevailing market yields and comparable market transactions. Theses assumptions are market standard and accord with the Royal Institution of Chartered Surveyors (RICS) valuation. However, if any assumptions made by the property valuer prove to be inaccurate; this may mean the value of the investment property differs form their valuation, which could have a material effect on the Statement of Financial Position. 

## **2. DONATIONS AND LEGACIES** 

|Donations<br>Donated services and facilities<br>**3.**<br>**OTHER TRADING ACTIVITIES**<br>Library Income<br>**4.**<br>**INVESTMENT INCOME**<br>Rents received<br>Deposit account interest|31/12/22<br>£<br>1,069,692<br>51,991<br>1,121,683<br>31/12/22<br>£<br>3,366<br>31/12/22<br>£<br>246,974<br>30,996<br>277,970|31/12/21<br>£<br>1,032,275<br>45,719|31/12/21<br>£<br>1,032,275<br>45,719|
|---|---|---|---|
|||1,077,994||
||||31/12/21<br>£<br>2,921<br>31/12/21<br>£<br>242,087<br>3,640|
||||245,727|



continued... 

Page 18 



**SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE** 

## **(MANDIR) LONDON** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **5. INCOME FROM CHARITABLE ACTIVITIES** 

|Gift Aid Tax Refund<br>Bal Mandal<br>License fee income|Gift Aid<br>Tax<br>Refund<br>£<br>163,936<br>-<br>-<br>163,936|Bal<br>Mandal<br>£<br>-<br>18,716<br>-<br>18,716|License<br>fee<br>Income<br>£<br>-<br>-<br>95,000<br>95,000|31/12/22<br>Total<br>activities<br>£<br>163,936<br>18,716<br>95,000<br>277,652|31/12/21<br>Total<br>activities<br>£<br>163,754<br>841<br>95,000|
|---|---|---|---|---|---|
||||||259,595|



## **6. RAISING FUNDS** 

## **Raising donations and legacies** 

|Donations<br>Voluntary expenses<br>Prashad and Puja expenses<br>Wages and salaries<br>**Investment management costs**<br>Rental properties expenses<br>Aggregate amounts<br>**7.**<br>**CHARITABLE ACTIVITIES COSTS**<br>Bal Mandal<br>Management and administration costs<br>Library expenses|Restricted|Restricted|Unrestricted||Total||Total|
|---|---|---|---|---|---|---|---|
||31/12/22||31/12/22||31/12/22||31/12/21|
||£||£||£||£|
|||-|28,049||28,049||39,217|
|||-|36,505||36,505||281,542|
|||-|195,493||195,493||83,333|
|||-|84,646||84,646||64,019|
|||||||||
|||||||||
|||||||||
|||-|344,693||344,693||468,111|
|||||||||
|||||||||
|||Direct<br>Costs<br>£<br>20,987<br>-<br>973<br>21,960||31/12/22<br>£<br>112,128<br>456,821<br>Support<br>costs (see<br>note 8)<br>£<br>-<br>236,456<br>-<br>236,456|||31/12/21<br>£<br>81,079<br>549,190<br>Totals<br>£<br>20,987<br>236,456<br>973<br>258,416|



continued... 

Page 19 



**SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **8. SUPPORT COSTS** 

|**SUPPORT COSTS**|**SUPPORT COSTS**||||||||
|---|---|---|---|---|---|---|---|---|
|Management<br>£<br>Management and<br>administration costs<br>202,714||Finance<br>£<br>6,234||Governance<br>Other<br>costs<br>£<br>£<br>12,289<br>15,219||||Totals<br>£<br>236,456|
||||||||||
||||Restricted||Unrestricted|Total||Total|
||||31.12.22||31.12.22|31.12.22||31.12.21|
||||£||£|£||£|
|Rates and water|||-||1,423|1,423||-|
|Insurance|||-||11,618|11,618||10,476|
|Light and heat|||-||76,636|76,636||40,406|
|Telephone|||-||1,596|1,596||1,372|
|Postage and stationery|||-||1,113|1,113||1,411|
|Cleaning|||-||5,172|5,172||2,702|
|Repairs and renewals|||-||38,705|38,705||42,265|
|IT costs|||-||7,543|7,543||153|
|Depreciation|||-||58,908|58,908||59,647|
||||||||||
||||||||||
||||-||202,714|202,714||158,432|
||||||||||



Support costs, included in the above, are as follows: 

## **Governance costs** 

|**Governance costs**|||
|---|---|---|
||31/12/22|31/12/21|
||Management||
||and||
||administration|Total|
||costs|activities|
||£|£|
|Auditors' remuneration|5,400|3,330|
|Professional and legal fees|9,819|5,052|
||15,219|8,382|



## **9. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021. 

## **Trustees' expenses** 

There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021. 

continued... 

Page 20 



**SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **10. STAFF COSTS** 

|Wages and salaries<br>The average monthly number of employees during the year was as follows:<br>Engaged on charitable activities<br>No employees received emoluments in excess of £60,000.<br>**TANGIBLE FIXED ASSETS**<br>Fixtures<br>Freehold<br>and<br>property<br>fittings<br>£<br>£<br>**COST**<br>At 1 January 2022<br>4,921,367<br>857,119<br>Additions<br>-<br>6,736<br>At 31 December 2022<br>4,921,367<br>863,855<br>**DEPRECIATION**<br>At 1 January 2022<br>420,432<br>340,286<br>Charge for year<br>49,214<br>9,696<br>At 31 December 2022<br>469,646<br>349,982<br>**NET BOOK VALUE**<br>At 31 December 2022<br>4,451,721<br>513,873<br>At 31 December 2021<br>4,500,935<br>516,833|31/12/22<br>£<br>84,646<br>84,646<br>31/12/22<br>5<br>Murtis<br>and<br>Valuables<br>£<br>440,157<br>39,413<br>479,570<br>-<br>-<br>-<br>479,570<br>440,157|31/12/21<br>£<br>64,019<br>64,019<br>31/12/21<br>5<br>Totals<br>£<br>6,218,643<br>46,149|
|---|---|---|
|||6,264,792|
|||760,718<br>58,910|
|||819,628|
|||5,445,164|
|||5,457,925|



## **11. TANGIBLE FIXED ASSETS** 

According to  the Trustees' review the market values are no different from those recorded. 

## **12. INVESTMENT PROPERTY** 

|**FAIR VALUE**<br>At 1 January 2022<br>Revaluation<br>At 31 December 2022<br>**NET BOOK VALUE**<br>At 31 December 2022<br>At 31 December 2021|£<br>3,550,340<br>1,524,660|
|---|---|
||5,075,000|
||5,075,000|
||3,550,340|



According to  the Trustees' review the market values are no different from those recorded. 

continued... 

Page 21 



**SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **12. INVESTMENT PROPERTY - continued** 

|Fair value at 31 December 2022 is represented by:<br>£<br>Valuation in 2022<br>1,524,660<br>Cost<br>3,550,340<br>5,075,000<br>If the investment properties had not been revalued they would have been included at the following historical cost:<br>31/12/22<br>31/12/21<br>£<br>£<br>Cost<br>3,550,340<br>3,550,340<br>The investment properties were valued on an open market basis on by Anderson Wilde and Harris.<br>**13.**<br>**STOCKS**<br>31/12/22<br>31/12/21<br>£<br>£<br>Donated goods and bought in goods<br>8,174<br>8,174<br>**14.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>31/12/22<br>31/12/21<br>£<br>£<br>Accrued income<br>25,943<br>46,484<br>Prepayments<br>13,210<br>12,588<br>39,153<br>59,072<br>**15.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>31/12/22<br>31/12/21<br>£<br>£<br>Other creditors<br>176,898<br>328,394<br>**16.**<br>**MOVEMENT IN FUNDS**<br>Net<br>movement<br>At<br>At 1/1/22<br>in funds<br>31/12/22<br>£<br>£<br>£<br>**Unrestricted funds**<br>General fund<br>15,864,004<br>2,490,094<br>18,354,098<br>**TOTAL FUNDS**<br>15,864,004<br>2,490,094<br>18,354,098|Fair value at 31 December 2022 is represented by:<br>£<br>Valuation in 2022<br>1,524,660<br>Cost<br>3,550,340<br>5,075,000<br>If the investment properties had not been revalued they would have been included at the following historical cost:<br>31/12/22<br>31/12/21<br>£<br>£<br>Cost<br>3,550,340<br>3,550,340<br>The investment properties were valued on an open market basis on by Anderson Wilde and Harris.<br>**13.**<br>**STOCKS**<br>31/12/22<br>31/12/21<br>£<br>£<br>Donated goods and bought in goods<br>8,174<br>8,174<br>**14.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>31/12/22<br>31/12/21<br>£<br>£<br>Accrued income<br>25,943<br>46,484<br>Prepayments<br>13,210<br>12,588<br>39,153<br>59,072<br>**15.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>31/12/22<br>31/12/21<br>£<br>£<br>Other creditors<br>176,898<br>328,394<br>**16.**<br>**MOVEMENT IN FUNDS**<br>Net<br>movement<br>At<br>At 1/1/22<br>in funds<br>31/12/22<br>£<br>£<br>£<br>**Unrestricted funds**<br>General fund<br>15,864,004<br>2,490,094<br>18,354,098<br>**TOTAL FUNDS**<br>15,864,004<br>2,490,094<br>18,354,098|£<br>1,524,660<br>3,550,340|£<br>1,524,660<br>3,550,340|
|---|---|---|---|
|||5,075,000||
|||31/12/21<br>£<br>8,174<br>31/12/21<br>£<br>46,484<br>12,588<br>59,072<br>31/12/21<br>£<br>328,394<br>At<br>31/12/22<br>£<br>18,354,098|31/12/21<br>£<br>8,174<br>31/12/21<br>£<br>46,484<br>12,588<br>59,072<br>31/12/21<br>£<br>328,394|
|||18,354,098||



continued... 

Page 22 



**SHREE KUTCH SATSANG SWAMINARAYAN TEMPLE (MANDIR) LONDON** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **16. MOVEMENT IN FUNDS - continued** 

Net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>1,680,671<br>1,680,671|Resources<br>expended<br>£<br>(715,237)<br>(715,237)|Gains and<br>losses<br>£<br>1,524,660<br>1,524,660|Movement<br>in funds<br>£<br>2,490,094|
|---|---|---|---|---|
|||||2,490,094|



## **Comparatives for movement in funds** 

|At 1/1/21<br>£<br>**Unrestricted funds**<br>General fund<br>15,006,727<br>**TOTAL FUNDS**<br>15,006,727<br>Comparative net movement in funds, included in the above are as follows:<br>Incoming<br>resources<br>£<br>**Unrestricted funds**<br>General fund<br>1,586,237<br>**TOTAL FUNDS**<br>1,586,237||Net<br>movement<br>in funds<br>£<br>857,277<br>857,277<br>Resources<br>expended<br>£<br>(728,960)<br>(728,960)||At<br>31/12/21<br>£<br>15,864,004|
|---|---|---|---|---|
|||||15,864,004|
|||||Movement<br>in funds<br>£<br>857,277|
|||||857,277|



## **17. RELATED PARTY DISCLOSURES** 

Incoming resources includes a license fee received from Ghanshyam Education Trust (GET) of £95,000 (2021: £95,000). GET is a charity and a company limited by guarantee in which the members of SKSST are the guarantors. 

Included in creditors amounts falling due within one year is a balance of £28,475 (2021: £28,180 creditor) due to GET. The members of the company are the Trustees. In the event of the charity being wound up, the liability in respect of the guarantee is limited. 

During the year the charity transacted at arms length, with committee members for provision of goods and services at an aggregate amount of £NIL  (2021: £nil). 

Page 23