2024-03-31-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 2024

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 2024

		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 2024

The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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 Dr P S Midha Ms B Kathrecha

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 2024

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 Nilanjan Das Gupta 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 2024.

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
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 2024

Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 62,178 Investment income 2 12,532 Total 74,710 EXPENDITURE ON Other 44,554 NET INCOME 30,156 RECONCILIATION OF FUNDS Total funds brought forward 529,195 TOTAL FUNDS CARRIED FORWARD 559,351	Restricted fund £ - - - - - - -	2024 Total funds £ 62,178 12,532 74,710 44,554 30,156 529,195 559,351	2023 Total funds £ 67,608 5,289
			72,897
			59,003
			13,894 515,301
			529,195

The notes form part of these financial statements

Page 4

The Hindu Temple - Bristol

Balance Sheet

31 March 2024

Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 209,591 CURRENT ASSETS Debtors 7 814 Cash at bank and in hand 350,936 351,750 CREDITORS Amounts falling due within one year 8 (1,990) NET CURRENT ASSETS 349,760 TOTAL ASSETS LESS CURRENT LIABILITIES 559,351 NET ASSETS 559,351 FUNDS 9 Unrestricted funds TOTAL FUNDS	Restricted fund £ - - - - - - - -	2024 Total funds £ 209,591 814 350,936 351,750 (1,990) 349,760 559,351 559,351 559,351 559,351	2023 Total funds £ 199,265 489 332,093 332,582 (2,652) 329,930 529,195 529,195 529,195
			529,195

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 2024

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.

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.

2. INVESTMENT INCOME

INVESTMENT INCOME
	2024	2023
	£	£
Bank interest	12,532	5,289

Page 6

continued...

The Hindu Temple - Bristol

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

4. STAFF COSTS

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

5.

Priests No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 67,608 Investment income 5,289 Total 72,897 EXPENDITURE ON Other 59,003 NET INCOME 13,894 RECONCILIATION OF FUNDS Total funds brought forward 515,301 TOTAL FUNDS CARRIED FORWARD 529,195	2024 2 Restricted fund £ - - - - - - -	2023 2 Total funds £ 67,608 5,289
		72,897
		59,003
		13,894 515,301
		529,195

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continued...

The Hindu Temple - Bristol

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

6. TANGIBLE FIXED ASSETS

COST At 1 April 2023 Additions At 31 March 2024 DEPRECIATION At 1 April 2023 Charge for year At 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 COST At 1 April 2023 Additions At 31 March 2024 DEPRECIATION At 1 April 2023 Charge for year At 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments	Freehold property £ 106,325 - 106,325 - - - 106,325 106,325 Fixtures and fittings £ 121,895 15,557 137,452 48,329 4,456 52,785 84,667 73,566	Murtis £ 13,563 - 13,563 - - - 13,563 13,563 Books £ 643 - 643 - - - 643 643 2024 £ 814	Equipment £ 30,660 - 30,660 25,492 775 26,267 4,393 5,168 Totals £ 273,086 15,557 288,643 73,821 5,231 79,052 209,591 199,265 2023 £ 489

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continued...

The Hindu Temple - Bristol

Notes to the Financial Statements - continued

for the Year Ended 31 March 2024

8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
				2024	2023
				£	£
	Social security and other taxes			722	(1)
	Pension Control			284	-
	Raja Ram Mohan Roy fund			984	984
	Accrued expenses			-	1,669
				1,990	2,652
9.	MOVEMENT IN FUNDS
				Net
				movement	At
		At 1.4.23		in funds	31.3.24
			£	£	£
	Unrestricted funds
	General fund	529,195		30,156	559,351
	TOTAL FUNDS	529,195		30,156	559,351
	Net movement in funds, included in the above are as follows:
		Incoming		Resources	Movement
		resources		expended	in funds
			£	£	£
	Unrestricted funds
	General fund		74,710	(44,554)	30,156
	TOTAL FUNDS		74,710	(44,554)	30,156
	Comparatives for movement in funds
				Net
				movement	At
		At 1.4.22		in funds	31.3.23
			£	£	£
	Unrestricted funds
	General fund	515,301		13,894	529,195
	TOTAL FUNDS	515,301		13,894	529,195
	Comparative net movement in funds, included in the above are as follows:
		Incoming		Resources	Movement
		resources		expended	in funds
			£	£	£
	Unrestricted funds
	General fund		72,897	(59,003)	13,894
	TOTAL FUNDS		72,897	(59,003)	13,894

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continued...

The Hindu Temple - Bristol

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

9. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund TOTAL FUNDS	At 1.4.22 £ 515,301 515,301	Net movement in funds £ 44,050 44,050	At 31.3.24 £ 559,351
			559,351

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	147,607	(103,557)	44,050
TOTAL FUNDS	147,607	(103,557)	44,050

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

Page 10

The Hindu Temple - Bristol

Detailed Statement of Financial Activities for the Year Ended 31 March 2024

	2024	2023
	£	£
INCOME AND ENDOWMENTS
Donations and legacies
Arti and Navrarti donations	6,302	6,593
Members subscriptions	713	1,078
Sundry donations	37,993	32,207
Gift aid refund	-	5,355
Donation boxes	12,087	16,415
School visits	260	480
Rent/hall hire	4,823	5,380
Electricity board rent	-	100
	62,178	67,608
Investment income
Bank interest	12,532	5,289
Total incoming resources	74,710	72,897
EXPENDITURE
Other
Functions - expenses	1,435	1,241
Food, drinks and rations	2,067	1,057
	3,502	2,298
Support costs
Management
Wages	21,026	17,332
National insurance	(44)	49
Pensions	225	-
Rates and water	269	662
Insurance	2,296	2,349
Light and heat	1,787	3,653
Telephone	768	765
Printing, postage and stationery	52	377
Cleaning and sundries	3,873	2,532
Repairs and renewals	5,436	24,202
	35,688	51,921
Finance
Bank charges	133	-
Other
Plant and machinery	775	912
Fixtures and fittings	4,456	3,872
	5,231	4,784
Total resources expended	44,554	59,003
Net income	30,156	13,894

This page does not form part of the statutory financial statements

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