2023-03-31-accounts - The Hindu Temple Bristol

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REGISTERED CHARITY NUMBER: 275804

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2023

for

The Hindu Temple - Bristol

Wormald & Partners Chartered Accountants (ICAEW) Redland House 157 Redland Road Redland Bristol BS6 6YE

The Hindu Temple - Bristol

Contents of the Financial Statements for the Year Ended 31 March 2023

		Page
Report of the Trustees	1	to	2
Independent Examiner's Report		3
Statement of Financial Activities		4
Balance Sheet		5
Notes to the Financial Statements	6	to	10
Detailed Statement of Financial Activities		11

The Hindu Temple - Bristol

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

The main objective of the charity is to promote the culture and philosophy of the Hindu faith to its members, the Bristol Hindu community and the community at large.

The main activities are:

Organisation of events based around religious festivals
Raising funds and donations from the members and the community at large for the upkeep of the charity
Work with local schools and other educational bodies to improve and enhance the understanding of Hindu faith and culture

FINANCIAL REVIEW

Principal funding sources

The charity's principal source of funding is donations from its members. The majority of the expenditure goes towards the ongoing maintenance of the building plus the salaries of two part time priests. The reserves of the charity are retained to be used for the benefit of the charity as and when the Trustees see fit.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is governed by its constitution.

Trustees are appointed to the board via an election process and serve for 3 years. The outgoing Trustees are eligible for re-election. The board consists of 6 people, out of which at least three must be local residents of Bristol City.

The Trustees are highly respected and senior members of the community, bringing in their vast experience and knowledge to ensure the charity is running properly and according to its constitution.

The day to day running of the charity is carried out by the management committee, who are elected annually at the AGM.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

275804

Principal address

163b Church Road Redfield Bristol BS5 9LA

Trustees

Mr R Rajani Mr K Bajaj Mr B Pandya Mrs N Nathwani (resigned 20.11.22) Mr N Patel (resigned 20.11.22) Dr P S Midha Ms B Kathrecha (appointed 20.11.22)

Independent Examiner

Wormald & Partners Chartered Accountants (ICAEW) Redland House 157 Redland Road Redland Bristol BS6 6YE

Page 1

The Hindu Temple - Bristol

Report of the Trustees for the Year Ended 31 March 2023

REFERENCE AND ADMINISTRATIVE DETAILS

Management Committee:-

Chairperson:	Mr Rasik Patel
Vice Chair:	Mrs Ila Shrimanker
Secretary	Mr Nalin Parekh
Treasurer:	Mr Laxmicant Amratlal

Committee Members:-

Mr Nilesh Babariya Mr Nilanjan Das Gupta Mrs Sarbari Dhar Mr Mayur Mehta Mrs Ila Parekh Mr Preash Patel

Volunteers provide valuable help and support to ensure all the activities and events are run efficiently and smoothly.

As in previous years we would like to thank our volunteers for their valued hard work and dedication during the year

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ Mr R Rajani - Trustee

Page 2

Independent Examiner's Report to the Trustees of The Hindu Temple - Bristol

Independent examiner's report to the trustees of The Hindu Temple - Bristol

I report to the charity trustees on my examination of the accounts of The Hindu Temple - Bristol (the Trust) for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 accounts to be reached.

Dilip Patel

Wormald & Partners Chartered Accountants (ICAEW) Redland House 157 Redland Road Redland Bristol BS6 6YE Date: .............................................

Page 3

The Hindu Temple - Bristol

Statement of Financial Activities for the Year Ended 31 March 2023

Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 65,831 Investment income 2 5,289 Total 71,120 EXPENDITURE ON Other 57,226 NET INCOME 13,894 RECONCILIATION OF FUNDS Total funds brought forward 515,301 TOTAL FUNDS CARRIED FORWARD 529,195	Restricted fund £ - - - - - - -	2023 Total funds £ 65,831 5,289 71,120 57,226 13,894 515,301 529,195	2022 Total funds £ 54,412 2,788
			57,200
			33,959
			23,241 492,060
			515,301

The notes form part of these financial statements

Page 4

The Hindu Temple - Bristol

Balance Sheet 31 March 2023

Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 199,265 CURRENT ASSETS Debtors 7 489 Cash at bank and in hand 332,093 332,582 CREDITORS Amounts falling due within one year 8 (2,652) NET CURRENT ASSETS 329,930 TOTAL ASSETS LESS CURRENT LIABILITIES 529,195 NET ASSETS 529,195 FUNDS 9 Unrestricted funds TOTAL FUNDS	Restricted fund £ - - - - - - - -	2023 Total funds £ 199,265 489 332,093 332,582 (2,652) 329,930 529,195 529,195 529,195 529,195	2022 Total funds £ 203,068 610 314,240
			314,850 (2,617)
			312,233
			515,301
			515,301
			515,301
			515,301

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

............................................. Trustee

The notes form part of these financial statements

Page 5

The Hindu Temple - Bristol

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.

Equipment - 15% on reducing balance basis Fixtures and fittings - 5% on reducing balance

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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. INVESTMENT INCOME

INVESTMENT INCOME
	2023	2022
	£	£
Bank interest	5,289	2,788

3. 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.

Page 6

continued...

The Hindu Temple - Bristol

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

4. STAFF COSTS

The average monthly number of employees during the year was as follows:

Priests No employees received emoluments in excess of £60,000. 5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 54,412 Investment income 2,788 Total 57,200 EXPENDITURE ON Other 33,959 NET INCOME 23,241 RECONCILIATION OF FUNDS Total funds brought forward 492,060 TOTAL FUNDS CARRIED FORWARD 515,301 6. TANGIBLE FIXED ASSETS Freehold property £ COST At 1 April 2022 106,325 Additions - At 31 March 2023 106,325 DEPRECIATION At 1 April 2022 - Charge for year - At 31 March 2023 - NET BOOK VALUE At 31 March 2023 106,325 At 31 March 2022 106,325		2023 2 Restricted fund £ - - - - - - - Murtis £ 13,563 - 13,563 - - - 13,563 13,563	2022 2 Total funds £ 54,412 2,788 57,200 33,959 23,241 492,060 515,301 Equipment £ 29,679 981 30,660 24,580 912 25,492 5,168 5,099	2022 2 Total funds £ 54,412 2,788
				57,200
				33,959
				23,241 492,060
				515,301

Page 7

continued...

The Hindu Temple - Bristol

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

Totals £ 272,105 981	Totals £ 272,105 981	Totals £ 272,105 981
273,086
69,037 4,784
73,821
199,265
203,068
2022 £ 610 2022 £ 604 984 1,029 2,617 At 31.3.23 £ 529,195		2022 £ 610
		2022 £ 604 984 1,029
		2,617
529,195
	13,894

Page 8

continued...

The Hindu Temple - Bristol

Notes to the Financial Statements - continued

for the Year Ended 31 March 2023

9. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.4.21 £ Unrestricted funds General fund 492,060 TOTAL FUNDS 492,060 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 57,200 TOTAL FUNDS 57,200 A current year 12 months and prior year 12 months combined position is as follows: At 1.4.21 £ Unrestricted funds General fund 492,060 TOTAL FUNDS 492,060	Net movement At in funds 31.3.22 £ £ 23,241 515,301 23,241 515,301 Resources Movement expended in funds £ £ (33,959) 23,241 (33,959) 23,241 Net movement At in funds 31.3.23 £ £ 37,135 529,195 37,135 529,195	At 31.3.22 £ 515,301
		515,301
		529,195

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	128,320	(91,185)	37,135
TOTAL FUNDS	128,320	(91,185)	37,135

Page 9

continued...

The Hindu Temple - Bristol

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.

Page 10

The Hindu Temple - Bristol

INCOME AND ENDOWMENTS Donations and legacies Arti and Navrarti donations Members subscriptions Sundry donations Gift aid refund Job retention scheme grants Donation boxes School visits Rent/hall hire Electricity board rent Investment income Bank interest Total incoming resources EXPENDITURE Other Functions - expenses Food, drinks and rations Support costs Management Wages Social security Rates and water Insurance Light and heat Telephone Printing, postage and stationery Cleaning and sundries Repairs and renewals Other Plant and machinery Fixtures and fittings Total resources expended Net income	Detailed Statement of Financial Activities for the Year Ended 31 March 2023 2023 2022 £ £ 6,593 6,921 1,078 2,570 30,430 24,157 5,355 - - 1,077 16,415 10,949 480 - 5,380 8,638 100 100 65,831 54,412 5,289 2,788 71,120 57,200 1,241 - 1,057 1,301 2,298 1,301 17,332 16,556 49 - 662 402 2,349 1,857 3,653 3,842 765 671 377 430 755 969 24,202 2,955 50,144 27,682 912 900 3,872 4,076 4,784 4,976 57,226 33,959 13,894 23,241	Detailed Statement of Financial Activities for the Year Ended 31 March 2023 2023 2022 £ £ 6,593 6,921 1,078 2,570 30,430 24,157 5,355 - - 1,077 16,415 10,949 480 - 5,380 8,638 100 100 65,831 54,412 5,289 2,788 71,120 57,200 1,241 - 1,057 1,301 2,298 1,301 17,332 16,556 49 - 662 402 2,349 1,857 3,653 3,842 765 671 377 430 755 969 24,202 2,955 50,144 27,682 912 900 3,872 4,076 4,784 4,976 57,226 33,959 13,894 23,241

		54,412 2,788
		57,200 - 1,301
		1,301 16,556 - 402 1,857 3,842 671 430 969 2,955
		27,682 900 4,076
		4,976
		33,959
		23,241

This page does not form part of the statutory financial statements

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