## **RADHAKRISHNA TEMPLE SHYAMA ASHRAM** ## **TRUSTEES REPORT AND FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED** **31 MARCH 2023** **Registered Charity Number : 276335** **RADHAKRISHNA TEMPLE SHYAMA ASHRAM** **LEGAL AND ADMINISTRATIVE INFORMATION** |Trustees|Mrs Devyani J Patel| |---|---| ||Mrs Nalini B Patel| ||Mrs Meenu Sharma| ||Mr Raj Kumar| ||Mr Chandulal Tank| |Charity Number|276335| |Principal Office|33 Balham High Road| ||Balham| ||London| ||SW12 9AL| |Independent Examiner|Mr D I Kirkwood, FCA| ||Alwyns LLP| ||Chartered Accountants| ||Crown House| ||151 High Road| ||Loughton| ||Essex| ||IG10 4LG| |Bankers|NatWest Bank Plc| ||128 Balham High Road| ||London| ||SW12 9AE| ||Barclays Bank Plc| ||Leicester| ||LE87 2BB| **RADHAKRISHNA TEMPLE SHYAMA ASHRAM** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** ## **INDEX** ## **Page Number** |1|- 3|-|Trustees' Report| |---|---|---|---| ||4|-|Independent Examiner's Report| ||5|-|Statement of Financial Activities| ||6|-|Balance Sheet| |7|- 10|-|Notes to the Financial Statements| Page 1 **RADHAKRISHNA TEMPLE SHYAMA ASHRAM** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023** The Trustees present their annual report and financial statements of the charity for the year ended 31 March 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statement and comply with the charity's trust deed, 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 (FRS102)" (effective 1 January 2019). ## **1 OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT** The primary objective of the charity as set out in the Trust Deed is to advance the Hindu religion, and impart religious education in accordance with the tenets and doctrines of Hinduism. To this end, the charity is committed to enabling as many ordinary worshippers as possible to congregate at the Trust's Temple and practise their faith through prayers and celebrations. Religious discourses and teachings are regularly held at the temple. ## **2 PUBLIC BENEFIT** The Trustees have paid due regard to the Charity Commission's guidance on public benefit. The Trustees have followed these guidelines when reviewing its aims and objectives and in planning future activities. The charity carries out a wide range of activities in pursuance of its charitable aims. The Trustees consider that these activities provide benefits both to those who attend the religious events, and the wider local community. Detailed information is provided in the Achievement and Performance section in this report. Facilities provided by the Trust are made available to Hindus, and the faith of Hinduism is communicated to non-Hindus of the wider community through its work. ## **3 STRUCTURE, GOVERNANCE AND MANAGEMENT** The charity is administered and managed subject to and in conformity with the provisions of a Trust Deed dated 30 July 1978, approved and established by the Charity Commission. The accounts have been prepared to conform with the requirements of the governing documents, current statutory requirements and the requirements of Accounting and Reporting by Charities, together with the Statement of Recommended Practice FRS 102. ## **Trustees** The following persons have acted as Trustees during the year: Mrs Devyani J Patel (Managing Trustee) Mrs Nalini B Patel Mrs Meenu Sharma Mr Raj Kumar Mr Chandulal Tank Each Trustee has taken responsibility for monitoring our activities in specific operational areas, chairing sub groups consisting of volunteers. ## **Management of the Trust** The Trustees normally meet at least once in every four weeks, and are responsible for the day-to-day management and administration of the Charity. ## **4 RISK POLICY** The major risks to which the Trust is exposed are reviewed regularly and systems updated to mitigate those risks. The Trustees maintain appropriate internal controls and procedures, including those relating to budgetary and financial risks and health and safety regulations. The Trustees are satisfied that systems/arrangements are in place to manage the risks identified. Page 2 **RADHAKRISHNA TEMPLE SHYAMA ASHRAM TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023** ## **5 ACHIEVEMENT AND PERFORMANCE** The Temple has thankfully returned to normalcy after the disruptions caused by the Covid 19 pandemic. Devotees have started to return and regular attendance is now on the increase. In keeping with the Trust's objectives, various charitable activities have now resumed. As in the past, the Temple has been instrumental in assisting the vulnerable in the form of groceries and cooked vegetarian meals. The Temple is valued by the local communities, especially the elderly, as a safe hub for praying and socialising. New and younger volunteers have been instrumental in providing extra support, through improved administrative rersources, for the spiritual wellbeing of the congregation. As in previous years, the Temple continues to offer its regular services via the social media applications of YouTube and Zoom. Online Satsangs, Bhajans, Hinduism Classes, 108 Hanuman Chalisa recitations, and Akhand International Yamunashtak Paath are examples of the regular activities. These are popular activities that have continued to generate great interest from participants from across the globe. The Temple's online platform also brings the following to its followers: Saturday sees the online recitation of Hanuman Chalisa. Followers of Hanuman Chalisa have kindly been making regular donations to the Temple. Ekadashi Satsangs held every fortnight are also very popular. In keeping with the Trust's objectives, regular classes on Hinduism are also held every week. As in previous years, the following major events were celebrated during the year: July/ August – Rakshabandhan September - Ghanesh Chaturthi, Rushi Panchmi, Radhastami, Daan Ekadashi October – Navratri celebration over nine days, Dassera, Sharad Purnima November – Dhanteras, Deepawali, Annakut Utsav, Bhai Beej, Tulsi Vivah December - Shri Gosaiji Utsav February/March – Shivaratri, Lord Shiva's birthday, Holi The Trust acknowledges the efforts and dedication of its volunteer force in the Temple's day to day management. ## **6 FINANCIAL REVIEW** The Trustees consider the financial performance by the charity during the year to have been satisfactory. Donations received during the year were £109,086, up from £82,015 in the previous year. There were no Government grants during the year. No donations were made by the temple during the year (2022 - £ Nil). The year's deficit of £586 (2022 surplus £493,709. This includes £490,000 property bequeathed to the Charity) is as set out in the financial statements. ## **7 VOLUNTEERS' CONTRIBUTIONS IN ACHIEVING THE OBJECTIVES OF THE CHARITY** The Temple continues to depend heavily for its success upon the continued support of its enthusiastic volunteers. Their invaluable support and dedication is vital to the prosperity of the Trust. The Trustees would like to thank wholeheartedly all of them for their hard work and dedication, particularly those involved in prashad preparation, premises maintenance, educational activities, IT and back office support, cleaning, and decorations during festivals. ## **8 PLANS FOR THE FUTURE** - maintain and improve available prayer and communal facilities - organise more visits for elderly and other deserving worshippers, to other temples - establish relationships with local religious institutions - fulfil our statutory obligations of health and safety - to participate in other charity work related to the Trust's objectives Page 3 **RADHAKRISHNA TEMPLE SHYAMA ASHRAM** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023** ## **9 STATEMENT OF TRUSTEES RESPONSIBILITIES** The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The Trustees must not approve the financial statements unless they are satisfied that they 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 these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgments and accounting estimates that are reasonable and prudent; - state whether applicable UK 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 to operate. The Trustees are responsible for keeping sufficient accounting records that 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 and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **Approval** This report was approved by the Trustees on 4 January 2024 and signed on their behalf by: **Mrs Devyani J Patel Trustee** **Mrs Nalini B Patel Trustee** Page 4 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF** ## **RADHAKRISHNA TEMPLE SHYAMA ASHRAM** I report to the Trustees on my examination of the financial statements of Radhakrishna Temple Shyama Ashram ('the Charity') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet and related notes. This report is made solely to the Charity's Trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work, for this report, or for the opinions I have formed. ## **RESPONSIBILITIES AND BASIS OF REPORT** As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Charity's financial statements carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145 (5)(b) of the Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a 'true and fair' view and my report is limited to those specific matters set out in the independent examiner's statement. ## **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 charity as required by section 130 of the 2011 Act; or - the financial statements do not accord with those records; or - the financial statements 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 financial statements to be reached. Mr D I Kirkwood, FCA Alwyns LLP Chartered Accountants Crown House 151 High Road Loughton Essex IG10 4LG 4 January 2024 Page 5 **RADHAKRISHNA TEMPLE SHYAMA ASHRAM** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **FOR THE YEAR ENDED 31 MARCH 2023** **----- Start of picture text -----**
Unrestricted Restricted Endowment Total Total
funds funds funds 2023 2022
Notes £ £ £ £ £
Income and endowments 2
Donations and legacy 109,086 - - 109,086 572,015
Other - - - - 5,435
Total income 109,086 - - 109,086 577,450
Expenditure on raising funds
Management and
administration 3 102,975 6,697 - 109,672 83,741
Total expenditure 102,975 6,697 - 109,672 83,741
Net income / (expenditure) 6,111 (6,697) - (586) 493,709
Reconciliation of funds
Total funds brought forward 8,908 20,962 780,000 809,870 316,161
Total funds carried forward 15,019 14,265 780,000 809,284 809,870
**----- End of picture text -----**
There were no recognised gains or losses for either period other than those included in the Statement of Financial Activities. All income and expenditure derives from continuing activities. The notes on pages 7 to 10 form part of these financial statements. Page 6 ## **RADHAKRISHNA TEMPLE SHYAMA ASHRAM** ## **BALANCE SHEET** ## **AS AT 31 MARCH 2023** **----- Start of picture text -----**
2023
Unrestricted Restricted Endowment 2023 2022
funds funds funds Total Total
Notes £ £ £ £ £
Fixed Assets
Tangible assets 5 206 1,119 780,000 781,325 781,559
Current Assets
Debtors - - - - 3,129
Cash in hand and at bank 30,278 13,146 - 43,424 41,434
30,278 13,146 - 43,424 44,563
Liabilities
Creditors falling due within
one year 6 (15,465) - - (15,465) (16,252)
Net current assets/(liabilities) 14,813 13,146 - 27,959 28,311
Net Assets 15,019 14,265 780,000 809,284 809,870
The funds of the Charity: 7
Unrestricted funds 15,019 8,908
Restricted funds 14,265 20,962
Endowment funds 780,000 780,000
Total charity funds 809,284 809,870
**----- End of picture text -----**
The financial statements were approved by the Board of Trustees on 4 January 2024 and were signed on their behalf by: **Mrs Devyani J Patel Trustee** **Mrs Nalini B Patel Trustee** The notes on pages 7 to 10 form part of these financial statements. Page 7 **RADHAKRISHNA TEMPLE SHYAMA ASHRAM** **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 MARCH 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of preparation and assessment of going concern** The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in relevant notes to the accounts. The financial statements have been prepared in accordance with the charity's trust deed, the Charities Act 2011, FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102") 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)" (effective 1 January 2019). The Trust constitutes a public benefit entity as defined by FRS 102. The Trustees have considered the consequences of COVID-19 and other events and conditions, and have determined that they do not create a material uncertainty that casts significant doubt upon the charity's ability to continue as a going concern. ## **Reconciliation with previous Generally Accepted Accounting Practice** In preparing these accounts, the Trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 a restatement of comparative items was needed. No restatement was required. ## **Donations, legacies and similar incoming resources** Income from donations is included in incoming resources when these are receivable, which is when the Charity becomes entitled to the resource. For legacies, entitlement is the earlier of the Charity being notified of an impending distribution or the legacy being received. Donations received for the general purposes of the Charity are included as unrestricted funds. Donations received for activities restricted by the donor are taken to "restricted funds" where these wishes are binding on the Trustees. Donated facilities are included at the value to the Charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers. Income is deferred only when the Charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period. ## **Resources expended** Resources expended are accounted for on a paid basis. Certain expenditure is apportioned to cost categories based on the estimated amount attributable to that activity in the year. These estimates are based on volunteer time as appropriate. The Charity is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT. ## **Tangible fixed assets and depreciation** All assets costing more than £350 are capitalised if they can be used for more than one year. Freehold land is not depreciated. The cost of tangible fixed assets is written off over their estimated economic useful life as follows: Freehold buildings are maintained to a standard whereby at any time, estimated remaining useful life is not diminished and the Trustees consider the valuation to be much higher. A revaluation will be carried out when appropriate. - Furniture, Fixtures and Equipment 15% reducing balance basis Page 8 **RADHAKRISHNA TEMPLE SHYAMA ASHRAM NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 MARCH 2023** ## **1. ACCOUNTING POLICIES (continued)** ## **Investment income** Interest is included when receivable by the Charity. ## **Fund structure** Funds held by the Charity are either: - Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the Trustees. - Restricted funds - these are funds that can 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. - Endowment funds - these are funds represented by properties held as endowment for use by the Charity. ## **Value added tax** Value added tax is not recoverable by the charity, and as such is included in the relevant cost in the Statement of Financial Activities. ## **Management and administration expenditure** This includes all expenditure of maintaining and running the premises, provision of utilities and other services. ## **2. DONATIONS** |**Unrestricted**
**funds**
**£**
Donations
109,086
Legacy (note 5)
-
Grants Received
-
**3.**
**MANAGEMENT AND ADMINISTRATION**
Establishment expenses
36,103
Administration expenses
11,934
Others:
Wages
46,840
Fruit and vegetables
7,012
Bank charges and interest
1,049
Depreciation
37
102,975|**Restricted**
**Endowment**
**funds**
**funds**
**£**
**£**
-
-
-
-
-
-
6,500
-
-
-
-
-
-
-
-
-
197
-
6,697
-|**Total**
**2023**
**£**
109,086
-
-
42,603
11,934
46,840
7,012
1,049
234
109,672|**Total**
**2022**
**£**
82,015
490,000
5,435
24,424
7,211
49,512
2,174
145
275
83,741| |---|---|---|---| There were two employees during the year (2022 - two). ## **4. TRUSTEES' REMUNERATION AND BENEFITS** There was no Trustees' remuneration or other benefits for the year ended 31 March 2023, nor for the year ended 31 March 2022. Page 9 **RADHAKRISHNA TEMPLE SHYAMA ASHRAM** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 MARCH 2023** ## **5. TANGIBLE FIXED ASSETS** |**Cost**
At 1 April 2022
Additions
At 31 March 2023
**Depreciation**
At 1 April 2022
Charge for the year
At 31 March 2023
**Net Book Value**
At 31 March 2023
At 31 March 2022|**Freehold**
**land and**
**buildings**
**£**
780,000
-
780,000
-
-
-
780,000
780,000|**£**
6,193
-
6,193
4,634
234
4,868
1,325
1,559
**Fixtures,**
**fittings and**
**equipment**|**Total**
**£**
786,193
-
786,193
4,634
234
4,868
781,325
781,559| |---|---|---|---| The freehold properties known as 33 Balham High Road, London SW12, 47 Cromford Street in Leicester and 38 Chatsworth Street in Leicester were bequeathed to the Charity in August 1999. The leasehold property known as groundfloor 35 Balham High Road, London SW12, was bequeathed to the Charity in October 2021. ## **6. CREDITORS AMOUNTS FALLING DUE WITHIN ONE YEAR** |Other creditors
**ANALYSIS OF CHARITABLE FUNDS**
Analysis of fund movement:
Unrestricted
Restricted fund
Endowment fund|**Balance**
**brought**
**forward**
8,908
20,962
780,000
809,870|**Income**
109,086
-
-
109,086|**2023**
**£**
15,465
**Expenditure**
102,975
6,697
-
109,672|**2022**
**£**
16,252
**Balance**
**carried**
**forward**
15,019
14,265
780,000
809,284| |---|---|---|---|---| ## **7. ANALYSIS OF CHARITABLE FUNDS** Page 10 **RADHAKRISHNA TEMPLE SHYAMA ASHRAM** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 MARCH 2023** ## **8. RELATED PARTY TRANSACTIONS** No donations were made by the Temple in the year (2022 - £Nil) During the year Abbey Total Care Group Limited, a company in which Mrs D J Patel is a director, and a trustee of the Charity, donated £39,394 (2022 - £14,532) to the Charity. During the year Mrs D J Patel, a trustee of the Charity, donated £1,382 (2022 - £1,492) to the Charity. As at the year end, the Charity owed £ 12,654 (2022 - £12,654) to Mrs D J Patel, a trustee. This interest free loan was under no formal terms. ## **9. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022** |**Notes**
**Income**
Donations
**2**
Legacies
Other income - CJRS Grants
**Total income**
**Expenditure on raising funds**
Management and administration
**3**
**Total expenditure**
**Net income/(expenditure)**
**Total funds brought forward**
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
81,914
-
5,435
87,349
83,509
83,509
3,840
5,068
8,908|**Restricted**
**funds**
**£**
101
-
-
101
232
232
(131)
21,093
20,962|**Endowment**
**funds**
**£**
490,000
-
490,000
-
-
490,000
290,000
780,000|**Total**
**2022**
**£**
82,015
490,000
5,435
577,450
83,741
83,741
493,709
316,161
809,870| |---|---|---|---|---|