**Charity registration number 275554 (England and Wales)**
## **SOUTH EAST HINDU ASSOCIATION**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **SOUTH EAST HINDU ASSOCIATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** M Pankhaniya Mr A Rabadia Mr H Assani **Charity number** 275554 **Principal address** 2 Anglesea Mews London SE18 6ER **Independent examiner** FinSol Tax Advisors Limited Unit 9 Churchill Court 58 Station Road North Harrow England HA2 7SA
## **SOUTH EAST HINDU ASSOCIATION**
## **CONTENTS**
||**Page**|
|---|---|
|report|1|
|Independent examiner's report|2|
|Statement of financial activities|3|
|Statement of financial position|4|
|Notes to the financial statements|5 - 11|
## **SOUTH EAST HINDU ASSOCIATION**
## **REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
The Trustees present their report and financial statements of South East Hindu Association " the Charity" for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the 's [governing document], the Charities Act 2011 and "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**
In accordance with the charity's objectives set out in the constitution of the charity, the charity is established to promote the Hindu faith. Regular congregations and events took place in furtherance of the objects of the Charity.
## **Financial review**
It is the policy of the that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the ’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The Trustees have assessed the major risks to which the is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Structure, governance and management**
The Charity is an unincorporated charity (Registered Charity number 275554) which was registered on 03 September 1977 and is governed by its Constitution.
The committee who served during the year and up to the date of signature of the financial statements were:
B Pindoria - President U Bhanderi - Treasurer A Hirani - Secretary
The Trustees who served during the year and up to the date of signature of the financial statements were: M Pankhaniya Mr A Rabadia Mr H Assani
The report was approved by the Board of Trustees.
## **Mr H Assani**
Trustee Dated: 13 January 2025
- 1 -
## **SOUTH EAST HINDU ASSOCIATION**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF SOUTH EAST HINDU ASSOCIATION**
I report to the Trustees on my examination of the financial statements of South East Hindu Association (the ) for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the Trustees of the you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the ’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
- I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1 accounting records were not kept in respect of the as required by section 130 of the Charities Act 2011.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
## **FinSol Tax Advisors Limited**
Unit 9 Churchill Court 58 Station Road North Harrow HA2 7SA England 13 January 2025
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## **SOUTH EAST HINDU ASSOCIATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
29,104
-
Investments
**4**
7,225
-
**Total income**
36,329
-
**Expenditure on:**
Charitable activities
**5**
53,078
-
**Total expenditure**
53,078
-
**Net income/(expenditure) and**
**movement in funds**
(16,749)
-
**Reconciliation of funds:**
Fund balances at 1 April 2023
579,762
20,901
**Fund balances at 31 March**
**2024**
563,013
20,901|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
29,104
13,149
-
7,225
11,050
-
36,329
24,199
-
53,078
20,686
-
53,078
20,686
-
(16,749)
3,513
-
600,663
576,249
20,901
583,914
579,762
20,901|**Total**
**2023**
**£**
13,149
11,050|
|---|---|---|
|||24,199
20,686|
|||20,686|
|||3,513
597,150|
|||600,663|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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## **SOUTH EAST HINDU ASSOCIATION**
## **STATEMENT OF FINANCIAL POSITION**
## _**AS AT 31 MARCH 2024**_
|**Notes**
**Fixed assets**
Property, plant and equipment
**10**
Investment property
**11**
**Current assets**
Trade and other receivables
**12**
Cash at bank and in hand
**Current liabilities**
**13**
**Net current assets**
**Total assets less current liabilities**
**The funds of the**
Restricted income funds
**14**
Unrestricted funds
**15**|**2024**
**£**
-
292,588
292,588
(1,800)|**£**
236,328
56,798
293,126
290,788
583,914
20,901
563,013
583,914|**2023**
**£**
1,233
306,814
308,047
(900)|**£**
236,718
56,798|
|---|---|---|---|---|
|||||293,516
307,147|
|||||600,663|
|||||20,901
579,762|
|||||600,663|
The financial statements were approved by the Trustees on 13 January 2025
Mr H Assani **Trustee**
- 4 -
## **SOUTH EAST HINDU ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
## **Charity information**
South East Hindu Association is a unincorporated charity, charity number 275554 and its principal trading address is 2 Anglesea Mews, London, SE18 6ER. .
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the 's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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 is a Public Benefit Entity as defined by FRS 102.
The has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
## **1.2 Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the .
## **1.4 Income**
Income is recognised when the is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
- 5 -
## **SOUTH EAST HINDU ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Property, plant and equipment**
Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings 0% Straight Line Plant and equipment 25% Reducing balance Fixtures and fittings 20% On Cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.6 Investment properties**
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
## **1.7 Impairment of non-current assets**
At each reporting end date, the reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.9 Financial instruments**
The has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the 's balance sheet when the becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
- 6 -
## **SOUTH EAST HINDU ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
**(Continued)**
## _**Basic financial liabilities**_
Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the ’s contractual obligations expire or are discharged or cancelled.
## **2 Critical accounting estimates and judgements**
In the application of the ’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of 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 estimate 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.
## **3 Income from donations and legacies**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
||**£**|**£**|
|Donations and gifts|29,104|13,149|
- **4 Income from investments**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
||**£**|**£**|
|Rental income|7,225|11,050|
- 7 -
## **SOUTH EAST HINDU ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **5 Expenditure on charitable activities**
|||**Charitable**|**Charitable**|
|---|---|---|---|
|||**Expenditure**|**Expenditure**|
|||**2024**|**2023**|
|||**£**|**£**|
||**Direct costs**|||
||Depreciation and impairment|390|440|
||Religious Expenses|1,615|884|
||Rates and Water Charges|677|4,507|
||Light, Heat and Power|17,992|4,330|
||Premises Repairs and Renewals|23,269|5,022|
||Property Insurance|4,024|2,927|
||Telephone, Fax and Internet|1,487|1,139|
||Sundry Expenses|2,724|537|
|||52,178|19,786|
||**Share of support and governance costs (see note )**|||
||Governance|900|900|
|||53,078|20,686|
||**Analysis by fund**|||
||Unrestricted funds|53,078|20,686|
|**6**|**Net movement in funds**|**2024**|**2023**|
|||**£**|**£**|
||The net movement in funds is stated after charging/(crediting):|||
||Fees payable for the independent examination of the charity's financial|||
||statements|-|-|
||Depreciation of owned property, plant and equipment|390|440|
## **7 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the during the year.
## **8 Employees**
The average monthly number of employees during the year was:
||**2024**|**2023**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
There were no employees whose annual remuneration was more than £60,000.
- 8 -
## **SOUTH EAST HINDU ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **8 Employees**
## **(Continued)**
## **Remuneration of key management personnel**
The remuneration of key management personnel was as follows:
## **9 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **10 Property, plant and equipment**
|**Freehold land**
**and buildings**
**Plant and**
**equipment**
**Fixtures and**
**fittings**
**£**
**£**
**£**
**Cost**
At 1 April 2023
235,637
50,694
1,200
At 31 March 2024
235,637
50,694
1,200
**Depreciation and impairment**
At 1 April 2023
-
50,093
720
Depreciation charged in the year
-
150
240
At 31 March 2024
-
50,243
960
**Carrying amount**
At 31 March 2024
235,637
451
240
At 31 March 2023
235,637
601
480|**Total**
**£**
287,531|
|---|---|
||287,531|
||50,813
390|
||51,203|
||236,328|
||236,718|
## **11 Investment property**
|**Investment property**||
|---|---|
||**2024**|
||**£**|
|**Fair value**||
|At 1 April 2023 and 31 March 2024|56,798|
Investment property comprises one property. The fair value of the investment property has been arrived at on the basis of a valuation carried by the trustees.
## **12 Trade and other receivables**
|**Trade and other receivables**|||
|---|---|---|
||**2024**|**2023**|
|**Amounts falling due within one year:**|**£**|**£**|
|Other receivables|-|1,233|
- 9 -
## **SOUTH EAST HINDU ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **13 Current liabilities**
|**Current liabilities**|||
|---|---|---|
||**2024**|**2023**|
||**£**|**£**|
|Accruals and deferred income|1,800|900|
## **14 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
||**At**|**1 April**|**At**|**31 March**|
|---|---|---|---|---|
|||**2023**||**2024**|
|||**£**||**£**|
|||20,901||20,901|
|**Previous year:**|**At**|**1 April**|**At**|**31 March**|
|||**2022**||**2023**|
|||**£**||**£**|
|||20,901||20,901|
## **15 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1 April**|**Incoming**|**Resources**|**At 31 March**|
|---|---|---|---|---|
||**2023**|**resources**|**expended**|**2024**|
||**£**|**£**|**£**|**£**|
|General funds|579,762|36,329|(53,078)|563,013|
|**Previous year:**|**At 1 April**|**Incoming**|**Resources**|**At 31 March**|
||**2022**|**resources**|**expended**|**2023**|
||**£**|**£**|**£**|**£**|
|General funds|576,249|24,199|(20,686)|579,762|
- 10 -
## **SOUTH EAST HINDU ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **16 Analysis of net assets between funds**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
**At 31 March 2024:**
Property, plant and equipment
236,328
-
Investment properties
56,798
-
Current assets/(liabilities)
269,887
20,901
563,013
20,901
**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**£**
**£**
**At 31 March 2023:**
Property, plant and equipment
236,718
-
Investment properties
56,798
-
Current assets/(liabilities)
286,246
20,901
579,762
20,901|**Total**
**2024**
**£**
236,328
56,798
290,788|
|---|---|
||583,914|
||**Total**
**2023**
**£**
236,718
56,798
307,147|
||600,663|
## **17 Related party transactions**
There were no disclosable related party transactions during the year (2023 - 2023).
- 11 -