WELLINGBOROUGH DISTRICT HINDU ASSOCIATION
Registered Charity Number 276747
Trustees' Report and Financial Statements For the year ended 31 March 2024
WELLINGBOROUGH DISTRICT HINDU ASSOCIATION
| Contents | ||
|---|---|---|
| Page | ||
| Report Of The Trustees | 1 to 3 | |
| Independent Examiner's Report | 4 | |
| Statement of Financial Activities | 5 | |
| Balance Sheet | 6 | |
| Notes forming part of the financial statements | 7 to 11 |
PAGE 1
WELLINGBOROUGH DISTRICT HINDU ASSOCIATION
Trustee's Report For the year ended 31 March 2024
The trustees present their report along with the financial statements of the charity for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document and Accounting and Reporting by Charities: Statement of Recommended Practice for Charities preparing their accounts in accordance with Financial Reporting Standard 102 applicable in the UK and the Republic of Ireland published on 16 July 2014.
Reference and Administrative Details of the Charity, its Trustees and Advisors
Charity Number 276747
Charity Offices
Charity Offices 133 Highfield Road Wellingborough Northants NN8 1PL Managing trustees Chairperson Vinodbhai Manibhai Patel Vice Chair - Mandir Bhupendrabhai Mistry Vice-Chair (HCC) Rajendrakumar Patel Charity Secretary Sunil Majithia Charity Treasurer Rohitkumar Patel Asst. Treasurer (Mandir) Vijay Patel Vice Treasurer (HCC) Dilesh Vaghela Committee Member - Food Shardaben Ramanbhai Patel Committee Member Ramilaben Patel Holding Trustee Pankaj Rambhai Patel Holding Trustee Umesh Dhansukhbhai Patel Holding Trustee Nynash Mistry Compliance Trustee Tejas Ramanbhai Patel Communication Shitanshu Deepak Modi Bankers Barclays Bank plc 8 Market Place Wellingborough Northants NN16 0AX Independent examiner DMO Accountants First Floor Offices 25 Sanders Road Finedon Road Industrial Estate Wellingborough Northamptonshire NN8 4NL
PAGE 2
WELLINGBOROUGH DISTRICT HINDU ASSOCIATION
Trustee's Report (continued) For the year ended 31 March 2024
Structure, Governance and Management
The Trust Deed (Constitution) of the Charity governs the election and appointment of trustees. There are two types of trustees elected by the Charity; holding trustees who jointly hold property for the Charity and trustees elected to carry out the Charity's management functions. Both types of trustees are elected by members at the annual general meeting. To carry out their long term custodial role to safeguard the Charity's property, the holding trustees are elected for a period three years. Management trustees are selected for a period of two years and given the required powers to act in pursuance of the objects. The management committee may appoint co-optees as well as form sub-committees so long as it acts within the powers of the Charity. Decisions are made on the basis of a majority vote. New trustees have induction training in charity law and the constitution of the Charity. The management trustees report at the end of their tenure to the following AGM. The management trustees were elected at the Charity’s Annual General Meeting on 16 July 2023. All the management trustees have participated to varying extent in the management of the Charity. The Trust Deed authorises the trustees to make and hold investments using the general funds of the charity, but no such investments are presently held. Cash balances are invested in bank deposit accounts and whenever possible fixed term deposits to maximise interest income.
Objectives, activities and public benefit
The Charity's objects are based on the furtherance of the Hindu religion and well being of the community through the provision of religious and community activities. In particular, the Charity operates a Temple for collective Hindu worship, celebration of festivals, spiritual education and opportunities for individual reflection and learning. In addition the Charity also operates the Hindu Community Centre which provides community facilities for a range of sports, social, leisure, cultural, educational and other community services. The charity adopts a holistic approach but also seeks to target service developments to specific groups such as the young or specific vulnerable groups.
The trustees are of the opinion that the Charity's objects and activities fulfil a defined public benefit as defined by the applicable sections of the Charities Act currently in force.
Achievements and performance
During the year the temple and Hindu community centre were used to celebrate the annual Hindu religious festivals which continue to be well supported. Individual family celebrations have taken place at the temple and centre. The cycle of life of the celebration of birth and marriages continue to be celebrated whilst the community come together to support those going through the sadder experience of losing a loved one and subsequent support to the bereaved.
The centre is used for various activities including varied sports, dance, martial arts and yoga. Of particular note is the success of our table tennis club who have experienced success in the local table tennis leagues.
We have an open door policy for centre activities and welcome people to take part regardless of their religious belief. New roof was installed over the old roof on the Temple premises.
Reserves policy
The Charity has adopted a prudent policy of maintaining adequate cash reserves to maintain core services and activities of its charitable objects uninterrupted for one year regardless of the extent of voluntary income being achieved. Specifically this includes the annual premises and staffing costs of operating the Temple together with the Community Centre. The management trustees are responsible for assessing the level of reserves based on the operating budgets of the Charity. The level of minimum cash reserves is currently set at £140,000.
In order to focus attention on the importance of maintaining the core reserve the trustees have established a designated fund to reflect the net wealth held in land and buildings used for charitable objects. In addition a designated fund has been established to reserve funds for the extension, remodelling and refurbishment of the Temple.
Financial review
Total income received by the charity amounted to £161,227 including general voluntary income amounting to £156,480. Total expenditure by the charity amounted to £141,468 of which £139,781 relates to premises and Temple and Community Centre running costs including employment of staff and donations were made totalling £500. The remainder of the costs relate to governance costs.
Voluntary help
The Charity continues to receive significant input from volunteers who give freely their time and often incur expenditure on behalf of the Charity without seeking reimbursement. The trustees also appreciate the professional advice, community development assistance, and management consultancy provided by the appropriate individuals and organisation.
PAGE 3
WELLINGBOROUGH DISTRICT HINDU ASSOCIATION
Trustee's Report (continued) For the year ended 31 March 2024
Donations in kind and assets
The Charity receives donations in the form of foodstuffs, materials and other items used both for religious and community activities. The value of such donated goods is not included in the financial statements as it would be both impractical and could cause offence to try to place a monetary value on these acts of generosity.
Statement of trustees' responsibilities
Law applicable to charities in England and Wales require the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:
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(a) select suitable accounting policies and apply them consistently;
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(b) make judgements and estimates that are reasonable and prudent;
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(c) state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
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(d) prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation;
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. 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.
Approval
This report was approved by the trustees on 25 August 2024 and signed on their behalf.
Vinodbhai Manibhai Patel
Chairperson
Rohitkumar Patel
Charity Treasurer
PAGE 4
WELLINGBOROUGH DISTRICT HINDU ASSOCIATION
Independent Examiner's Report to the Trustees of Wellingborough District Hindu Association For the year ended 31 March 2024
I report to the trustees on my examination of the financial statements of Wellingborough District Hindu Association (‘the charity’) for the year ended 31 March 2024 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 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.
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:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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 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.
Paul Minards ATT DMO Accountants
First Floor Offices 25 Sanders Road Finedon Road Industrial Estate Wellingborough Northamptonshire NN8 4NL
PAGE 5
WELLINGBOROUGH DISTRICT HINDU ASSOCIATION
Statement of Financial Activities For the year ended 31 March 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| Funds | Funds | ||
| Note | 2024 | 2023 | |
| £ | £ | ||
| INCOMING RESOURCES | |||
| Incoming resources from generated funds; | |||
| Voluntary income | 2 | 156,480 | 144,706 |
| Investment income | 3 | (2,713) | 1,022 |
| Tax refund - gift aid | 7,460 | 0 | |
| Grants received | 4 | 0 | 2,000 |
| Total incoming resources | 161,227 | 147,728 | |
| RESOURCES EXPENSED | |||
| Donations | 500 | 1,273 | |
| Temple and centre running costs | 5 | 139,781 | 146,682 |
| Governance costs | 6 | 1,187 | 1,061 |
| Total resources expensed | 141,468 | 149,016 | |
| Net resources before transfers | 19,759 | (1,288) | |
| Unrestricted funds brought forward | 266,753 | 461,457 | |
| Transfers: | |||
| Movement in freehold land and buildings | 10 | 655 | (193,416) |
| Designated new property development fund | 11 | 0 | 0 |
| Unrestricted funds carried forward | 287,167 | 266,753 |
The notes on pages 7 to 11 form part of these accounts.
PAGE 6
WELLINGBOROUGH DISTRICT HINDU ASSOCIATION
Charity number: 276747
| Balance Sheet | |||
|---|---|---|---|
| For the year ended 31 March 2024 | Income and | Expenditure Account | |
| Note | 2024 | 2023 | |
| £ | £ | ||
| Fixed assets | |||
| Tangible fixed assets | 7 | 1,403,671 | 1,409,390 |
| 1,403,671 | 1,409,390 | ||
| Current assets | |||
| Debtors | 8 | 0 | 0 |
| Cash at hand and in bank | 327,764 | 300,006 | |
| 327,764 | 300,006 | ||
| Creditors (due < 1 year) | 9 | 17,682 | 15,402 |
| Net current assets | 310,082 | 284,604 | |
| NET ASSETS | 1,713,753 | 1,693,994 | |
| Funds | |||
| Designated property funds | 10 | 1,302,595 | 1,303,250 |
| Designated Mandir Development Fund | 11 | 123,991 | 123,991 |
| Unrestricted funds | 287,167 | 266,753 | |
| 1,713,753 | 1,693,994 |
Approved by the board of trustees on 25 August 2024 and signed on its behalf.
Vinodbhai Manibhai Patel
Chairperson
Rohitkumar Patel
Charity Treasurer
The notes on pages 7 to 11 form part of these accounts.
PAGE 7
WELLINGBOROUGH DISTRICT HINDU ASSOCIATION
Notes to the accounts For the year ended 31 March 2024
1 ACCOUNTING POLICIES
1.1 Basis of preparation of accounts
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document and Accounting and Reporting by Charities: Statement of Recommended Practice for Charities preparing their accounts in accordance with Financial Reporting Standard 102 applicable in the UK and the Republic of Ireland published on 16 July 2014.
1.2 Fund accounting
Income and expenditure is allocated between funds in the Statement of Financial Activities Income and Expenditure Account as follows:
Restricted funds where the donor has restricted the way in which the income can be spent
Unrestricted funds where the donor has made no stipulation in the way the income is spent and where the charity may use the funds in any way it sees fit in order to pursue its charitable objectives Designated funds where unrestricted funds have been earmarked by the Board for a particular charitable purpose.
1.3 Pension costs - defined contribution schemes
Contributions made are charged to the Statement of Financial Activities as they become payable. All pensions are paid to independent pension providers where the pension fund assets are administered separately from the charity.
1.4 Tangible fixed assets for use by the charity and depreciation
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment 15% per annum on a reducing balance basis Statues, murtis and paintings No depreciated Freehold land and buildings No depreciated
No depreciation is provided on the Charity's freehold land and buildings. The properties are maintained to ensure that their value does not diminish over time. The maintenance costs are charged to expenditure in the year incurred. In the trustees' opinion, depreciation would be immaterial and has not been charged.
1.5 Incoming resources
Voluntary income and donations are accounted for as received by the charity except for any grants received for specific purposes that have not been spent.
1.6 Resources expended
Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered.
Expenditure which is directly attributable to specific activities has been included in these cost categories. Where costs attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of these resources.
1.7 Voluntary work and services received
The charity benefits from the many thousands of voluntary hours and unclaimed out of pocket expenses contributed by a large number of volunteers and trustees. In addition other contributions in kind such as food stuffs and materials are received by the charity. It would be difficult to place a value on all these gifts in kind, without which the charity would need to expend additional resources.
1.8 Debtors and creditors due within one year
These are measured at transaction price which is usually the invoice amount.
1.9 Going concern
The accounts have been prepared on a going concern basis which does not take into account adjustments that would be appropriate were this not to be so. The trustees consider that the Charity is a going concern.
PAGE 8
WELLINGBOROUGH DISTRICT HINDU ASSOCIATION
Notes to the accounts (continued…) For the year ended 31 March 2024
| 2 VOLUTNARY INCOME Donations and collections Religious festivals Hire of facilities and utensils Classes and clubs Religious Worker Collection Box Membership Snacks, drinks, advertising and sundry income Roof repair project fund 3 INVESTMENT INCOME Rent from mobile telephone mast Interest receivable on bank deposits Investment property 4 GRANTS RECEIVED Local grant providers 5 TEMPLE AND CENTRE RUNNING COSTS Employee costs Priest costs Cleaning, waste disposal and sundries Repairs and renewals Religious festival expenses Classes, activities and clubs Snacks and drinks purchases Light & heat Water Insurance Telephone Printing, post, stationery and magazine costs Bank and card terminal charges Depreciation of fixtures, fittings and equipment Other recruitment costs Website costs and advertising General expenses Priest's house expenses |
2024 £ 42,456 43,320 36,628 28,444 4,454 874 129 175 156,480 2024 £ 3,000 893 (6,606) (2,713) 2024 £ 0 0 2024 £ 50,074 12,085 7,901 11,072 13,842 9,196 14 9,839 2,419 4,754 1,669 631 1,320 9,372 420 450 0 4,723 139,781 |
2023 £ 33,545 36,749 45,078 27,774 0 1,040 133 387 |
|---|---|---|
| 144,706 | ||
| 2023 £ 3,000 2,074 (4,052) |
||
| 1,022 | ||
| 2023 £ 2,000 |
||
| 2,000 | ||
| 2023 £ 35,353 8,222 9,053 13,253 22,734 10,848 3 15,390 2,184 4,634 1,575 1,091 1,396 10,246 0 2,250 167 8,283 |
||
| 146,682 |
PAGE 9
WELLINGBOROUGH DISTRICT HINDU ASSOCIATION
Notes to the accounts For the year ended 31 March 2024
(continued…)
| 6 GOVERNANCE COSTS Legal and professional costs Independent examiner's and accountancy fees 7 TANGIBLE FIXED ASSETS £ £ £ Cost or valuation Balance b/f 619,663 683,587 10,398 Additions 0 0 0 Disposals (655) 0 0 Balance c/f 619,008 683,587 10,398 Depreciation Balance b/f 0 0 0 Charge for the year 0 0 0 On disposals 0 0 0 Balance c/f 0 0 0 Net book value As at 31 March 2024 619,008 683,587 10,398 As at 31 March 2023 619,663 683,587 10,398 8 DEBTORS Other debtors 9 CREDITORS (due < 1 year) Trade creditors and accruals Taxes & social security Temple and Land (MRN) Hindu CC Freehold Land & Buildings Statues, murtis & paintings |
6 GOVERNANCE COSTS Legal and professional costs Independent examiner's and accountancy fees 7 TANGIBLE FIXED ASSETS £ £ £ Cost or valuation Balance b/f 619,663 683,587 10,398 Additions 0 0 0 Disposals (655) 0 0 Balance c/f 619,008 683,587 10,398 Depreciation Balance b/f 0 0 0 Charge for the year 0 0 0 On disposals 0 0 0 Balance c/f 0 0 0 Net book value As at 31 March 2024 619,008 683,587 10,398 As at 31 March 2023 619,663 683,587 10,398 8 DEBTORS Other debtors 9 CREDITORS (due < 1 year) Trade creditors and accruals Taxes & social security Temple and Land (MRN) Hindu CC Freehold Land & Buildings Statues, murtis & paintings |
|
|---|---|---|
| Furniture, fittings & equipment |
||
| 619,008 683,587 10,398 |
||
| 0 0 0 0 0 0 0 0 0 |
||
| 0 0 0 |
||
| 619,008 683,587 10,398 |
||
| 619,663 683,587 10,398 |
PAGE 10
WELLINGBOROUGH DISTRICT HINDU ASSOCIATION
Notes to the accounts For the year ended 31 March 2024
(continued…)
10 DESIGNATED PROPERTY FUND
The designated fund is represented by the net book value of freehold land and buildings. The movement on the designated fund is as follows:
| As at 1 April 2023 Additions at cost Disposals at cost Less depreciation this year TOTAL AS AT 31 MARCH 2024 DESIGNATED MANDIR DEVELOPMENT FUND This relates to funds set aside for the proposed new development. As at 1 April 2023 Additions at cost Disposals at cost Less depreciation this year TOTAL AS AT 31 MARCH 2024 |
2024 £ 1,303,250 0 (655) 1,302,595 0 0 1,302,595 2024 £ 123,991 0 0 123,991 0 0 123,991 |
2023 £ 1,109,834 193,416 0 |
|---|---|---|
| 1,303,250 0 |
||
| 0 | ||
| 1,303,250 | ||
| 2023 £ 123,991 0 0 |
||
| 123,991 | ||
| 0 | ||
| 123,991 |
11 DESIGNATED MANDIR DEVELOPMENT FUND
12 RELATED PARTY TRANSACTIONS
There was no related party transactions for the period.
13 TRUSTEES REMUNERATION AND EXPENSES
The trustees have not received any remuneration or have been paid any expenses during the current or preceding year.
PAGE 11
WELLINGBOROUGH DISTRICT HINDU ASSOCIATION
Notes to the accounts (continued…) For the year ended 31 March 2024
| 14 STAFF NUMBERS AND COSTS The average number of staff was as follows The payroll costs of these staff were as follows: Wages and salaries Employers Pension Contributions |
2024 £ 7 60,120 470 60,590 |
2023 £ |
|---|---|---|
| 10 39,240 251 |
||
| 39,491 |
There are no employees whose emoluments exceed £60,000 (2023 - none).