Charity Registration No. 277833 SHRI VALLABH NIDHI- UK ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 KLSA PKF
SHRI VALLABH NIDHI - UK LEGAL AND ADMINISTRATIVE INFORMATION Governors Narendra Thakrar Gorandè Bhall MahendTa Patel Rasika Patel Ashil Roy Thakkar Subahu Patel Ajay Jobanpulra Piadeep Dhamecha Rajubhai Raichura Charlty number 277833 Princlpal addross Shri Sanatan Hindu Mandir P.0. Box 700 Wembley HAO 4TA Shri Nathji Sanalan Hindu Mandir 159-161 Whipps Cross Road Leylonslone E11 1NP Audltors KLSA LLP Kalamu House 11 Coldbalh Square London ECIR 5HL Bankers Punjab National Bank Ilnlernationall Ltd 188 Ealing Rgad Wembley Middlesex HAO 4QD Web$lte www.svnuk.org
SHRI VALLABH NIDHI- UK CONTENTS Page GDvernDrs' report Independent audilorfs report Consolidated statement of financial activities io Group and Charity balance sheets Consolidated slalemenl of cash flows 12 Notes lo the consolidated financial statements 13-23
SHRI VALLABH NIDHI- UK GOVERNORS, REPORT ICONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 The Governors present their report and consolidated financial statements lor the year endgd 30 June 2025. The CDnsolidaled financial slalemenls have been prepaTed in accordanoe with the a¢¢ounling policies gel out in note 1 to the consolidated financial statements and comply with the Charities A¢t 2011, conslilulion of the charity and 'Accounling and Reporting by Charities.. Stalemonl of Recommended Practice applicable lo charities preparing their collsolidaled accounts in accordance with the Financial R¢porting Standard applicable in the UK and Republic of Ireland (charities SORP FRS 1021 l&ffeclive 1 January 20191" Objectlves and actlvltles The objects of the chaiily are lo.. la} advance the Hindu religion in accordance with the teaching of Shri Vallabh and in furtheran thereof lo provide and maintain a temple for public religious worship and other religious charitable purpose. Ibl educate the public in the Hindu and English cultures and to that enol lo provide faGilitie8 for the leaching of Gujarali, Hindi, Sanskril and English. Icl relieve poverty sickness and distress. Idl prornol@ religious welfare of Hindus in and furtherance thereof to PTovide guidanGe and advice. The Board of Governois review the aims, obje¢lives and activities of the charity each yeai. This ret)ort looks al what the charity h89 achieved and thè outcomes of ils work in the reporting period. The Board of Govemors report the SUC$$ of each key activity and the benefits the charity has brought to those groups of people that il is set up to help. The review also helps the Board of Governors ensure the charity's aims, objectives remained fo¢used on it8 slated purposes. The Board of Governors have ieferred lo the guidan Contained in the Charity Commission's genÉr81 guidance on public benefit when reviewing the charity's aims and objectives anLf in planning ils future activities. In particular, the Bc>ard of Govemors consider how planned activities will conlribijte to the aims and objeclivps that have been sel. One of Shri Vallabh Nidhi - UK'S principal aims and objectives is lo 2dvance the Hindu religion in accordance with the teaching of Shri Vallabh and in furtherance thereof to Provide and maintain a templ¥ for public religious worship, other religious charitable purpose so playing an important part in building a b@Ilér society. Volunteers and staff The volunteers and staff are involveLI in general management and cor8 activili&s of the Charity.. Providing servlces in varfous departments Includlng security, administration, congregalion organisalion, kitchen, audiolvideolpholography. media relations. public relations, youth activities, chilclren activities, adult aclivilies elc. Organising Hindu religion festivals The Board of Governo[5 would like lo acknowtedge the tremendous efforts of the volunteers, staff and the many supporters of the Charity for thelr kind and generous donations as well as their continued support in helping the Charity lo achieve its objectives. Achlevements arkd performance Financial review The ineomillg resources and the outgoing resources have increased from the previous year, due to charity's increased aclivilies. the gross donations received for the year was £1.40m12024.' £1.55ml, net income was £490k (2024.. £590kl. At the period end, the net assets of the Charity are £15.5m {2024.' £15.Oml.
SHRI VALLABH NIDHI- UK GOVERNORS, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 ResÈNès policy 11 is the policy of the charity that unreslricled funds which have not been designated for a specific use should be niainlained al a level equivalent lo between Bix to eight weeks expenditure. The Governors considers that reseTves al this level will ensure that. in the event of a significant drop in funding, they will be able lo continue the charity's current activities while consideration is given to ways in which addition81 funds may be raised. This level of reserves has been maintained throughout the year. Golng concern In the current year, the group recorded gross income of £1.40rn {2024: £1.55ml. The net mDvemenl in funds for the year was nel income of £490k12024.' £590kl. The governors, are confident. based on Ihe ¢harily's performance and devotees allending the temple, that the charity will have SL¢ffi¢ienl funds lo continue to me@l ils liabilities a5 they fall due for al least 12 months from the date of approval of the consolidated financial statements and therefore have prepared the consolidated fi'nancial statements on a going concern basis. Rbsk management and internal control Risk management The Board of Govemors is responsible for ensuring effective ttsk management, and that Internal controls are in place lo appropriately manage the risk exposure of the Charity, in particular, the Board of Governors has considered.. the major risks to which the Charity is exposed., the potential impact and probability associated wilh each risk., existing internal controls and accountability for them., mlligaling aolions needed lo reduce each risk to a level that the Govemors considers lo be acceptable. All signlficanl activities undèrtaken are subject to risk review as part of the initi81 proje¢l assessment and implementation. The Board of Govemors reviews the major risks that the Charity faces on a regular basis 8nd controls are established as appropriate. Internal control The Govèrnors have overall responsibilily for ensuring that Ihe Charity has appropriate systems of Internal controls across the Charity and ils subsidiaries. The key inlemal controls used by Ihe Charity and its subsidiaries include.. Fomial agendas and minutes of all Board of Governors meeting5 Detailed budgetary presentation for approval by the Board of Governois Established organisational structure and lines of reporting Engagement of exlemal professional advisors as and when necessary Through Ihe controls established for the running of the Charity, the Board of Governors are satisfied that the major iisks identified are adequately mitigated where necessary. 11 is recognised that the controls established can only provide reasonable bul not absolute assurance that major risks have been aclequately managed.
SHRI VALLABH NIDHI - UK GOVERNORS, REPORT ICONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Actlvitles undertaken in the year The following activities were undertaken during the year.. The charity has continued lo help local ¢ommunilies from the donations given generously. All the Hindu festivals were celebrated and very well allended by many devotees. Renovations were carried out al Wembley temple with vibrant red colour enhancing mandir atmosphere. Completion of the extension of Shiv Mandir Organised the firsl-ever 'Sarve Pilru Moksharth Yagna, held in honour of ancestors. Held a special prayer and remembranc& on 22nd April 2025 for the innocent lives lost in the tragi¢ lerrorisl allack and gathered in Prarthna Shraddhanjali on 12th June 2025 in memory of the departed souls from the Air India crash in Ahmedabad. We have seen a significant increase in regular activities in all areas. In accordance with the main objective of following and propagating the Sanalan faith and community coheslon with members and the wider community. all activities undertaken fulfilled these aims and objectives. Community cohesion an important aspect of the charity's work. The current facilities with the further developments being undertaken will enable the charity lo address and deliver programmes and events to the changing demogiaphic of the members. Future plaris The charity has identified the following medium-lerm objectives which will be reviewed on an annual basis.. Expansion of adminislralive capacities through extension of the existing administration office area. Plans for further building works lo enhance mandir of both Wembley and Leylonslone locations. To continue lo organise seminars. lectures and events in order lo promote the principles of the Sanalan faith. The members hav8 a vast resource of knowledge and experience which shall be used positively for all future plans. structure, govornance and management Shri Vallabh Nidhi- UK, Registered Chaiily No. 277833 was founded in 1979. The charity is an unincorporated charity which Is governed and operated within the requirement set out in ils conslilulion. The adminislralion and control of the Gharity and its assets are vested in a Board of Governors. The Board consists of 9 members12024'. 9 members). Princlpal actlvltles In accordance with the objects, the principal activity of the Charity is the running of the places ol worship for Hindu Community in the UK. To this end the Ghaiity runs two temples, one in Wembley. Middl&sex and another in Whipps Cross Road. Leylonslone. In addition, the Charity arranges periodlc religious functions {Kalhas and Saptasl and celebrates all the major festive days in the Hindu calendar.
SHRI VALLABH NIDHI- UK GOVERNORS, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Freehold propertles Th& Charity owns freehold propèrties in Wembley and Leytonslone. There is a temple on each of these freehold properties. Governors The Governors who servecl duTing the year were.. Narendra Thakrar Gorande Bhatl Mahendra Palel Rasika Patel Ashil Roy Thakkar Subahu Patel Ajay Jobanpulra Pradip Dhamecha Rajubhai Raichura Governors are appointed or removed by the Board of Governors. Potential new Governors are periodically identified by the Board of Governors. These individuals work alongside existing Governors for a period of Ihlee years before considering their appoinlmenl. Key management personnel and remunèratlon pollcy The key management personnel of the chaiity are the Govemors who were not remunerated nor paid any expenses. statement of Governors. responslbllltlas The Governors are responsible for preparing the GoveTnors' Report and the consolidated financial slalements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Tha law applicablè lo charities in England and Wales requires the Govemors lo prepare ¢onsolidaled financial slalemenls for each finan¢ial year, which give a true and fair view of the stsle of 8ffairs of the charily and of the Incoming resources and applicatlDn of resources of the charity for that year. In preparing these Consolidated financial sialemenls, the Governors are requlred to.. select suilablo accounting policies ar¢d then apply them consistently., obseN& the methods and principles in the Charities SORP,. make judgements and estimates that are reasonable and pNdenl', slate whether applicable ac¢ounling stsndards have been followed, subject to any material departures disclosed and explained in the consolidated accounts., and prepare the consolidated financial slalements on the going concern basis unless it is Inappropriate lo presume that the charlly will continue in operation. The Governors arè responsible for keeping suflicienl accounting records that disG105e Mith reasonable accuracy al any lime the financial position of the charity and enable them to ensure th8t the consolidat&d financial statements comply with tha Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions ol the trust deed. They ale also responsible for saleguarding the assets oflhe charity and hen for taking reasonable steps for Ihe pVentIOn and detection of fraud and other irregularities.
SHRI VALLABH NIDHI- UK GOVERNORS, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Auditor KLSA LLP were ie-appoinled as the Group's audilois during the p@riod and have expressèd their willingness to continue in that capacity. Disclosure of information to auditor Each of the Governors has confirmed that there is no information of which they are aware which is relevant lo the audit, bul of which the auditor is unaware. They have further Lonfii'med that they have laken appropriate steps to identify such relevant infoiinalion and lo @slablish that the auditor is aware of such information. TheG report was approved by the Board of Governors. Na ra akrar over Dated.. 12 December 2025
SHRI VALLABH NIDHI - UK INDEPENDENT AUDITOR'S REPORT FOR THE YEAR ENDED 30 JUNE 2025 Opinlon We have audited the consolidated financial slalemenls of Shri Vallabh Nidhi - UK Ilhe 'charily l and its subsidiary Ilhe 'group'} for the year ended 3D June 2025 which Gomprise the group slatemenl of tinancial activities, the group balance sheet. the company balance sheet, the group statement of cash flows the notes lo the Consolidated financial slalements, in¢luding a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Slandards, including Financial Reporting Standard 102 The Fiiiancial Reporting Standard 8pplicabl8 iii the UK and Republic of Ireland {United Kingdom Generally Accepted Accounting Piaclicel. In OL¢r oplnlon. the consolidated financial statements.- give a true and f8ir view of the slate of the group's and the charity's aff&irs as at 3D Jun8 2025 and of the group incomlng resources and application of resources, for the year then ended- have bèen properly prepared in accordance with United Kingdom Generally Accepted ACCOUnng Pracllce., and have been prepared in aGcordance wth the requirements of the Charities Act 2011. Basis for oplnlon We conducted our audit in accordance with Inleinational Standards on Auditing {UKI IISAs IUKII and applicable law. Our responsibilities under those standards are furthei described in the Auditor's responsibilities for the audit of the accounls section of our report. We are independènt of the charity in accordance with the ethical requiiemonls that are relevant to OLJr audit of the accounts in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical respDnsibililies in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons rolatlng to going concern In auditing the consolidated financial slalemenls. we have concluded that the GDvemors' use of the golng concern basis of accounting in the preparation of the financial slalemenls is appropriate. Basèd on the work we have perforrned, we have not identified any material uncertalnlies relating to events or conditions that, individually or collectively. may cast signifiGant doubt on the group's ability to continue as a going Goncern a period of at least twelve months from when the financial slalements are aulhorized for i58ue. Our responsibilities and the responsibilities of the Governois with respect lo going Concern are described in thè relevant sections ol this report. However, because not all lulure events or conditions can be predicted, this statement is not a guarantee as to the company's ability lo continue as a going concem. other information The Dther information Comprises the information included in the annual report other Ihan the consolidated financial slalemenls and our auditor's report thereon. The Governors are responsible for the other information contained within the annual report. Our Opinion on th2 consolidated financial stalernenls does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is lo read the other informalion arnd, in doing so, consider whether the other information is materially illGonsi8lenl with the financial ststemenls or our knowleolge obtained In the course of the audit, or otherwise appears lo be ma16rSally misslaled. If we identify such material inconsistencies or apparent material misslaletnenls, we are required lo determine whether this gives iise lo a material misstalemenl in the consolidated financial slalements themselves. If, based on the work we have perfDrrned. we conGludo that there is o material misstalemenl ofthis other inlormalion, we are required to report th81 fact. We have nolhlng to rewrt in this regard,
SHRI VALLABH NIDHI - UK INDEPENDENT AUDITOR'S REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Matters on which we are required to report by oxception In the light of the knowledge and understanding of the parent and the subsidiary end Ils environment obtained in the course of the audit, we have not identified material misslatemenls in the governors, report. We have nothing lo report in respect ofthe following matters in relation to which the Charities {Accoun15 and Reports) RulatIonS 2008 require us lo report lo you if, in our opinion.. the information given in the consolidated financial slalemenls is inconsislenl in any material respecl with th& Governors, report,. or sufficAenl ac¢ounling records have not been kept,. or the consolidated financial slalements are not in agreement with the accounting records., OT we have not received all the information and explanations we requiro for our audit. Respon51billtles of Governors As explained more fully in the slatem&nl of Governors. responsibilities, the Governors are responsible fgr the preparation of the consolidated financial slalemer)Is and for being satisfied that they give a true and fair view, and for such inleinal control as the Governors determine is necessary lo enable the preparallon of consolidaled finan¢ial st81ements that are free from material misslatemenl. whether dua to fraud or 6fror. In preparing the consolidated fi'nancial slalements, the Governors are responsible for assessing the charity's ability lo continue as a going concem, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the Govemors either intend to cease operations, or have no realistic a118malive bul lo do so. Audltorfs responsibilltles for tho audit of the consolidated accounts We have been appointed as auditors under sectlDn 144 of the Charities Act 2011 and report in accordance wlh the Act and relevant regulations made or having effect Ihereunder, Ou¥ objeGIFves are lo obtain reasonablè assurance about whether the consolidated flnanclal statements as a whole are free from material misslalemenl, whether due lo fraud or error, and lo issuè an audiloffs report that includes our opinion. Reasonable assurar)ce is a high lével of assurance, bul is not a guarantee that an audit conducted in ac¢ordanG& with ISAS IUKI will always delecl a material rnisslalemenl when it axisls. Misslalements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expeGled to influence the economic ofecisions of users 18ken on the basis of these consolidated financial slalements. IrregLJlarilies, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo delecl maleiial misslalements in respect of irregularities, including fraud. The extent to which our procedtjres are capable of detecting irregularities, including fraud, is detailed below. Our approach to identifying and assessing the risks of material misstatement in respect of irregulartties, including fraud and non-compliance with laws and regulations, was as follows.. the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and reguLqlions', we identified the laws and regulations applicable lo the charlty through discusstons with goveinors and other managerrent, anol from our commercial knowledge and experience of the sector", and we focused on specific laws and regulations which we considered may have a direct material effect on the operations of the group's financial slalements. including the Charities Act 2011, CoTnpanies Act 2006, data protection. ants-bribery, employment laws, environmental and health and safety legislation.
SHRI VALLABH NIDHI- UK INDEPENDENT AUDITOR'S REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 We assessed the susceptibility of the Group's financial statements lo material misstatement, including obtaining an understanding of how fraud might occur, by.. making enquiries of management as lo where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud,. and considering the internal controls in place lo mitigate risks of fraud and non-compliance with laws and regulations. To address the risk ol fraud through management bias and override of controls, we., performed analytical procedures to idertrlify any unusual or unexpected relationships; tested journal entries lo identify unusual transactions., carried out a review of the incoming donations during the year ascertaining transactions were at arm's length. investigated the rationale behind significant or L¢nusual transactions. verified income lo the supporting reIpts and other documentation on a sample basis lo confirm classification behveen restricted and unreslricled funds. read minutes of meetings of those charged with governance. perfomed year on year analytical procedures on cash donation collections and tested on sample basis the procedures in place in respect of collection. counting and recording of the cash donations. reviewed validity of expenditure orl a sample basis and in particular reasonableness of allocation of expenditure against restrscted funds. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, bul were not limited to,. agreeing ftnancial statement disclosures to underlying supporling documenlalion., enquiring of management as to actual and potential litigation and claims. We Communicated the identified fraud risks and non-compliance wilh laws and regulations with those charged with governance, throughout the audit team and remained alert lo any indications throughout the audit. There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non~compliance with laws and regulations that are not closely related lo events and transactions reflected in financial slatemenls. Also, the risk of not detecting a material misslatemenl due to fraud is higher than the risk of not delecling one resulting from error. as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. Fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through an act of collusion that would mitigate internal controls. A further description of our responsibilities is available on the Financial Reporting Council's website at.. hllps.'Ilwww.frc.org.uklaudilorsresponsibililies. This description forms part of our audilorfs report.
SHRI VALLABH NIDHI- UK INDEPENDENT AUDITOR'S REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Use ofour report This report is made solely lo the Group's Iruslees, as a body, in accordance with the Charities Act 2011. Our audit work has been undertaken so that we might slate lo the Group's Iruslees those matters we are required lo slate lo them in an auditors, report and for no other purpose. To the fullest exlenl permitted by law, we do nDt ac¢ept or assume responsibility to anyone other than the group and the group's Iruslees as a body, for our audit work, fDr this report. or for the opinions we have formed. KLSA LLP Chartered Accountsnts ststutory Audltor Kalamu House 11 Coldbath Square London EC1R 5HL 12 December 2025 KLSA LLP is eligible for appointment as auditor of the charlty by virtue of ils eligibility for appointmenl as auditor of company under of section 1212 of the Companies Act 2006.
SHRI VALLABH NIDHI- UK CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE FOR THE YEAR ENDED 30 JUNE 2025 Unrestricted Restrlcted Totsl Unrestricted Restricted funds funds Total funds funds 2025 2025 2025 2024 2024 2024 Notes Income and ondowments from.. Income 1,384,254 14.400 17,253 1,401,507 14,400 1.099,103 12,783 454,589 1.S53,6g2 12.7b3 Other income Total Income 1,398,654 17,253 1,415,907 1,111,886 454,589 1.586,475 endilure on: Raising funds Charitable acllvllies 19,162 906,578 19,162 906,578 976,708 976,7r)8 Total expenditure 925,740 925.740 976.708 976,708 Net Income 472,914 17,253 490,167 13fj,178 454,589 589,767 Transfer b6tw88n funds 63,909 (63,9091 436,429 {436,4291 Not movement In funds 536.823 (46,656) 490,167 571,607 18,160 589.767 Fund balances at 1 July 2024 14,950,506 46.658 14.997,162 14,378.899 28.498 14,407,395 Fund balances at 30 June 2025 15,487,329 15,487,32g 14,950,506 46,656 14.997,162 The statent of finandal activilies indudes all gains and losses recognised in the year. Atl income and expènditur8 derive from contlnuing activit¢es. 10
SHRI VALLABH NIDHI - UK GROUP AND CHARITY BALANCE SHEETS FOR THE YEAR ENDED 30 JUNE 2025 Group 2025 Charlty 2025 2024 2024 Flxed a8set8 Notes 10&I1 Tangible asset5 Investments 16,638,262 16,604,845 16,e38,262 16,604,845 12 16,638,262 16.604,845 16,638,264 16,604,847 Current a$$el$ Debtors 14 46,702 225,028 271,730 12,912 305,836 318.748 48,265 174,939 223.204 25,440 227,438 252,878 Gash at bank and In hand Credltors: amounts fallang due within one yeay 15 176600 226.261 128052 160369 Net cuttent li3bilities Credltorfy: amounts falllng after more than onè year 95,130 92.487 95,152 92.509 1 248 063 1700 170 1246,063 1.700 170 15,487,32S 14.997,182 15,487,35S 14,997.186 Total a88ets less current liabllltie3 Income funds Reslricled Fuiids 17 46,656 46.856 Unrestricted funds General unreslrlcted fund8 17 14,637,247 t4.100,424 14.637.271 14.100.448 850,082 850,082 850,082 850,082 Revalualion resEfvE 18 15.487,329 14,997,162 f 5,487.353 14,997.186 The financial stalemenlG wer8 approved by the board of governorg and &ulhor18Bd Issuè on 12 Decemb812025 aThl are l on Ils behalf ty: ren Govo Thakrar or li
SHRI VALLABH NIDHI - UK CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2025 2025 2024 Notes Cash flows from operating activities Cash generated from operations 506,553 683,909 Investlng actlvltles Purchase of tangible assets {1 OCI,750) 1297,3621 Net cash used in investing activities 1100,750) {297,362) Flnanclng actlvltles Repayment of bank loan (486,6111 {327.9841 Net cash Ius8dl In flnanclng activities 1486.611) 1327,9841 Net Idecrea5elllncrease In cash and cash equivalents {80,8081 58,563 Cash and cash equivalents al beginning of year 305.836 247,273 cash and cash equlvalents at ènd of year 225,028 305,836 Relatlng to: Cash at bank and In hand 225,028 305,836 12
SHRI VALLABH NIDHI- UK NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Accounting policies Charity information Shri Vallabh Nidhi - UK is a charity registered in England and Wales, The registered office is Shree Sanatsn Hindu Mandir, Ealillg Road, Wembley, Middlesex HAO 4TA. The Group consists of Shfi Vallabh Nidhi- UK and its subsidiary. Accountlng Convention The consolidated financial statements have been prepared in accordance with the charily's governlng doGumonl, the Charities Act 2011 and Accounting and Reporting by Charities.. Stal@menl of Recommended Pr8¢1ice applicable lo charities preparing their consolidated finan¢ial statements in accordance with the Financial Reporting Slandaid applicable in the UK and Republic ol Ireland IFRS 102)" {as amended for aGGounling periods commencing from 1 January 20161. The charity is a Public B8n&fil Enlily as defined by FRS 102. The consolidated fi'nancial slalements have departed from Ihg Charities IAGcounts and Reports) Regulations 2008 only to the extent required lo provide a Irije and fair view. This departure has involved following the Slalement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred lo in the Regulations, bul which has slnce been withdrawn. The cgnsolidaled financial statements are prepared in sterling. which is the functional currency of the charity. Monetary amounts in these consolidated financial statements are rounded to the nearest £. Basls of Gon501idation The consolidated financial statements incorporated Shri Vallabh Nidhi - UK and its subsidiary li.g. where an enlily is govern@d by voting rights, Shri Vallabh Nidhi- UK consolidates when il holds, directly or indirectly. the necessary voting rights to pass resoluliDns by the governing body). All financial statements are made up to 30 June 2025, where necessary. adjuslmenls are made to the financial statements of the Subsidiary to bring the accounting policies used Into Ilne with those used by other member of the group. All inlra-group Iransaclions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transactions provi(fe evidence of an impairment of the asset transferred. Going Goncerll In assessing the Group's ability lo continue as a going concem, the Board of Governors have considered the financial p0511ion and performance of the Charity. The charity is financed by donors, loans and banking facilities. The Gharity is therefore dependent upon ils donors and loan facilities for continued financial support. Al the year end, th6 charity had bank loans falling due afier more than one year of £1.3m {2024.' £1.8m). 13
SHRI VALLABH NIDHI - UK NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Accountlng Policies Icontlnued In accordanGe with their responsibiSilies. Ihe trustees have considered the appropriateness of the going ¢on¢ern basis for the PparatIOn of the financi81 stalemenls. For this basis. thèy have reviewed the individual group enlilies, rllanagemenl accounts as al the signing date and budgets for the next 12 months from the dale ofthe approval of the finanGial slalemenls. On the basis of this, the Iruslees have a reasonable expectallon that the charity will contSnue in operational existence forlhe foreseeable future. Thus. the trustees continue to 8dopl the going concern basis of acwunling in preparing the consdidated financial slalemenls. These financial statements are prepared on the going concern basis. Charitable funds Unrestricted fvnds are available for use al the discretion of the Governors in furtherance of their chaiilable objectives unless the funds have been designated for other purposes. Incomlng resources Income is recognised when the charity is legally entitled to it after any perfomiBnce conditlons have been met, the amounts can be measured reliably, and it is probable that inGome will be received. Cash donations aTe recognised on receipt. Other donations are re¢ognised once the charity has been nob'fied ol the donation, unless perfoimance conditions require deferral of the amount. Income lax recoverable in relation to don81ions received under Gift Aid 01 deeds of ¢ovenanl is recognised al the lime of tho donalior). Income from hall rental and operation of a Car park is recognised after the provision of the services and o receipt of payment. Resources exp8ndod Expenditure is re¢ognis6d once there is a legal or constructive obligalii)n lo transfer economlc 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 b8 measured reliably. Expenditure is classified by activity. The costs of each actlvlly are made up of the lolal of direct costs and shared costs, Including support costs involved in undertaking eaoh activity. Direct costs allributable lo a single activity are allo¢aled directly lo that activity. Shared costs which Contribute lo more than onÉ activity and support Costs which are not allribulable lo a single activity are apportioned between those activities on a basis consistent with the LÈse of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges are allocated on the portion of the asset's Use. All expenditure is accounted for on an accrual basis. Wherever possible, expenditure is allocated specifically lo the relevant a¢livilies for which il is incurred. Where costs cannot be directly atlribuled, they have been allocated lo activities on 8 basis consistent wlh the use of resource5. Tanglble fixed assets Tangible fixed assets are initially measured al cost and subsequently tne85ured at cost or valuation. nel of depreciation and any impairmenl108S?5. Depreciation is rewgnised so as to write off the cost or valuation of assets less their iesidual values over their useful lives on the following bases.. Freehold land is not depreciated Freehold buildings Fixtures, fittings & equipment Jewellery Asset under consttuction 2Q/o per annum 20Qkn reducing balance method not depreciated capllalised on completion J4
SHRI VALLABH NIDHI - UK NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Accountlng Pollcies Icontinuedl The Board of Governors wnsider that the functional freehold buildings arè maintained in such a stale of repair that their residual values are al least equal lo their nel book value. No depre¢ialion is provided in respect of freehold land. temple in Wembley and jewellery. An annual impalrmenl review 18 made, in accordan¢e with the requirements of Financial Reporting Standard numbers 11 and 15. to ensure that the recoverable amounts of the assets are not lower than IheiT Current values. The gain or loss arising on the disposal of an asset is determined as the difference between thè s818 proceeds and the carrying value Df the asset and is recognised in net incomel (expenditure) for the year. Fixed assot investmonts A subsidiary is an entity colllrolled by the Gharily. Contfol its the power to govern the financial and operating policies of the entity so as lo obtain benefits from ils 8¢tivili@s. Impairment of fixed assets Al ea¢h reporting end dale, the charity reviews the carrying amount5 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 eslimaled in order to determine the extent of the impairment loss lif any). Recoverable amount is thé highèr of fair value less costs to sell and value in use, In assessing value in use, the e51imaled future cash flows are discounted lo their present value using a pre-tax discount rale that rellecl$ current mark81 assessments of the time value of money and the risks specific lo the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset is estimated lo be less than ils carrying amount. the carwng amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in in¢omelexpendilure lor the year. unless the relevanl asset is carri&d at a re-valued amoLFnt. in which case the impairment loss is Irealed as a revaluation decrease. Recognis@d impairment losses are reversed if, and only if, the reasons for the impaiimenl loss have Geased lo apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased lo the revised estimate of its recoverable amounl, bul so that Ihe increased carrying amount doe8 not exceed tho Carryiny amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immeolialely, unless the ielevant asset is carried in at a re-valued amount, in which case the reversal of the impairment loss is Irealed as a revaluation increa. Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held al call wlh banks, other short-lerm liqul investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilitses. 1.10 Financial Instrument5 Ch8rily has elected lo apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Olher Financial Instruments Issues. of FRS 102 to all of its fi'nancial instruments. Financial instruments are recognisÈd in th8 charitWs balance sheet when the charity becomes party lo the onliaGlual provisions of the inslrumenl. Financial assets and liabilitl8s arè offs81, with th6 nel amounts presented in the tinancial slalements. when there is a legally enforceable right lo sel off the re¢ognised amounts and there is an intention to settle on a net b8sis or lo realise the asset and sellle the liability simultaneously. 15
SHRI VALLABH NIDHI - UK NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Accountlng policios Bas1¢ financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured al trarksaction price including tiansaclion costs and are subsequently carried al amortised cost using the effective interest method unles5 the arrangement conslilules a financing tranÈaclion, where the ttansaclion is measured at the present value of the future CeIptS discounted at a market rate ol interest. FinanGial assets cla55ilied as receivable within one year are not amortised. Icontlnuedl Basic financial liabilities Basic financial liabilities, including creditors and b&nk logtns are initially recognised al Ir8nsaction pri unle88 the arrangement conslilules a financing transaGlion, where the debt instrument is measured al the present value of th8 future payments discounted at a mart(et rale of intere81. Financial liabilities classified as payable within one year are not amortis8d. Debt instruments are subseqL¢enlly carried al amortised cost. using the effective interest rale method. Trade ¢r6dilors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable artt classified as current liabilities if payment is due within one year or less. If not, Ih8y are presented as non-currenl liabilities. Trade creditors are recognisecl initially al transaction price and SLFbsequenlly measured at amortised cost using the effective interest method. 1.11 Employe6 beneflts The cost of any unused holiday enlitlemenl is rectniSed in the period in which the employee's services are received. Termination benefits are recognised immediatèly as an expense when the chaiity is demonstrably committed to terminate the employment of an employee or lo provide termination benefvls. 1.12 Fund Accounting Unrestricted funds compris8 accumulated surpluses on genera1 funds, and these are available for use at the dis¢r81ion ofthe Board of Govemors in the furtherance of the general charitable oblecttves of the Charity. 1.13 Irrecoverable VAT The Charity is not registered for VAT and its expenses are. therefore, inclusive of VAT which cannot be recovered. Critical accounting estlmates and Judgem8nl$ In the application of the charity's accounting policies, the Governors are required to make judgements, eslimates and assumptions about the carrying amount of assets 2nd liabilities that are not Teadily apparent from other sources. Th¥ estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. The estlmalès and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales are ¥ecognised in the period in which the es1im8te is revised where the revision affects only that period. or in the pertod of the revlsion and lulure periods where the revlslon affects both current 8nd frjlure periods. 16
SHRI VALLABH NIDHI - UK NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Critical accounting estlmates and judgements Key sources of estlmation uncertalnty The eslima16s and assumptions whiGh have a significant rfsk ol causlng a material adjustment to the carrying amount of assets and liabilities are as follows. Useful lives ofproperty. plant and equipment Management reviews the useful lives and residual valu8s ofthe items of property, plant and equipment on a regular basis. During the financial yeai, the directors determined no significant changes in the useful lives and residual values. Incomè Unrestrlcted Re$trl¢ted funds funds 2026 2025 Total Unrestricted funds 2024 Restricted funds 2024 Total 2025 2024 Tèmple donatlons Temple ¢lonalions 724.447 724,447 513,067 513,067 Rellglous function Religious function donations 151,900 151,900 134,384 134,384 Golakh Golakh donations 46,956 46,956 52.428 52,428 Glftald Gift aid 58,1 C18 58,108 87.345 87,345 Restrlcted funds Dlning hall repair Shiv mandir donation 17.253 17,253 39,156 415,433 39,156 415,433 Hall hlre and parklng Income Hall hire and parking income 402.843 402.843 311,879 311,879 1,384,254 17,253 1.401,507 1,099,1D3 454,589 1,553.692 17
SHRI VALLABH NIDHI - UK NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 other income 2025 2024 Rental income 14,400 12,783 14.400 12,783 Expendlture on ralslng funds 2025 2024 Cost of generatlng funds Saptah Gosts 19.162 19.162 Expendlture on charitable actlvltles Charlty Depreciation costs 2025 Total Charlty Depreclation costs 2024 Total 2026 2025 2024 2024 Direct cost Staff costs Depreciation Premises expenses Administration costs Religious activities Loan interest 432,424 432,424 67,333 189,280 32,959 49,387 125,195 376,558 376,558 58,715 267,560 29,853 62,258 181,784 67,333 58,715 189,280 32,959 49,387 135,195 267,560 29,853 62,258 181,764 839,245 67,333 906,578 917,993 58.715 978,708 Analysed between Unre51ricted funds Reslricled funds 839,245 67,333 906.578 917,993 55,752 976,708 839,245 67,333 906,578 917,993 58.715 976,708 Administration costs includ& audit lees of £6,214 (2024." £6,163). Loan interest includes accruèd interest of £4,66512024-. £6,934). 18
SHRI VALLABH NIDHI- UK NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Governors None of the Governors lor any persons ¢onne¢led with theml received any remLtneralion during the year. Govèrnors, expenses There were no Governors. expenses paid for the year ended 30 June 2025 {2024.' nill. Employees Number of employees The average monthly number employees during the year wa5.. 2026 Number 2024 Number Admin staff Priest 10 12 14 16 Employment costs 2026 2024 Wages and salaries Social security G051s 398,755 35,669 345,486 31,072 Thère were no employe8s whose annLEal remuneration was £60,000 or more. Taxatlon The charity is exempt from tax on ils charitable aclivilies. 19
SHRI VALLABH NIDHI- UK NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 10 Group tanglble flxed as$ets Land and bulldings Asset under ¢onstructlon Fixtures, flttlngs & equipment Jewellery Total Cost At 1 July 2024 Additions 17.673.675 44,000 124.231 42.650 36,645 17.834,551 100,750 14,100 At 30 June 2025 17,717,675 14,100 166.881 36,645 17,935,301 Depreciation and Impairment At 1 July 2024 Deprecialion charged in the yèar 1,107.184 122,522 1,229,706 62,350 4.983 67,333 At 30 June 2025 1,189,534 127,505 1,297.039 Carrylng omount At 30 June 2025 16.548,141 14,100 39,376 36,645 16.638,262 At 30 June 2024 16,566.491 1,709 36,645 16.604.845 The Board of Governors are of the opinion that the market value of the freehold properties Is not less than Iheir book value al 30 June 2025. 20
SHRI VALLABH NIDHI- UK NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 11 Charlty tangible fixed assets Land buildlngs Asstrt under constructlon Fixtures. fittings & equipment Total Jewellery Cost Al 1 July 2024 Additions 17,673,675 44,000 124,231 42,650 36,645 17,834,551 100,750 14,100 At 30 Jun8 2025 17,717,675 14,100 166.881 36,645 17,935,3D1 Depreclatlon and impairment Al 1 July 2024 Depreciation charged in the year 1,107,184 122,522 1,229,706 62,350 4,983 87.333 AI 30 June 2025 1.169,534 127.505 1,297,039 Carrying amount AI 30 Jurie 2025 16.548,141 14,100 39,376 36.645 16,638,262 At 30 June 2024 16.568,491 1.709 36.645 16,604,845 The Board of Governors are of the opinion that the market value of the freehold propertles is not less than their book value at 30 June 2025. 12 Flxed asset Investments Group Charlty 2024 2025 2024 2025 Investment in subsidiary Shri Vallabh Nidhi - UK holds 1000A share capital ol Shrlco L¢miled, a company incorporated in England & Vvales. 13 Financlal Instruments 2025 2024 Carrylng amount of financial assets Equity instruments measured al cost less impaimient Carrying amount of flnanclal Ilabllitles Measured al amortised Cost 1493 990 2 030 262 21
SHRI VALLABH NIDHI- UK NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 14 Debtors Group Charlty 2025 2025 2024 2024 Amounts falllng due wlthln one year- Trade debtors Amounts due from group company 46,702 12.912 48,265 48,265 25,440 25,440 48,702 12,912 15 Credltors: amounts falllng due wlthln one year Group Charity 2024 2025 2024 202S Bank loans Trade creditors Taxation and social security other credllors Accruals and deferred income 71,327 32,410 14.692 53,20QI 4,980 103,831 57,588 6,849 53.493 4,500 71,327 103.831 51,745 4,980 52.038 4,500 178,600 226,261 128,052 160.369 16 Credltors.. amounts falllng after more than one year 2025 2024 Loans and Overdrafts Bank loans 31 Payable within on& year Payable after one year 71,327 1 D2.831 1246 063 1 700 170 The loan is secured by first legal charge dated 31 July 2019 over freehold Property Shri Sanatan Hindu Mandir Ealing Road HA04TA and a personal guarantee capped al 20°h of the oulslanding loan from one of the Interest was payable at 3.8sts above Bank of England base rate whith is due on monthly b8S1S. 22
SHRI VALLABH NIDHI - UK NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 17 Analysis of net assets between funds Unrestricted funds 202S Restrlcted funds 2026 Total 2025 At 30 June 2025: Tangible assets Current asselsllliabililiesl Long term liabilities 16,638,262 95,130 I1,246.3) 16,638.262 95.130 11,246,063) 15.487,329 15,487,329 Unrestrlcted funds 2024 Restricted funds 2024 Total 2024 At30 June 2024: Tangible assets Current assetsl{liabililiesl Long term liabilities 16,604,845 45,831 {1.700.1701 16,604,845 92,487 {1,700.170> 46,656 14,950.506 46,656 14,997,162 18 ResOTves Revaluation r8s&rv& The revalualioll reserve includes all revaluation surpluses of freehold property. 19 Related party transactlons None of the members of the Board of GoveTnors that served during th@ period rec&iveot any benefit nor were they party to any transactions that were entered in lo by the ChaTIIy. One of the trustee's has provided a personal guarantee for the CBIL received by the charity, amounting to £1.32m as al the year-end. 20 Cash generated from operaonS 202S 2024 Surplus for the year 490,167 589.767 Adjustments for.. Depreciation and impairment of tangible fixed assets 67,333 58,715 Movements in working Capital.. Ilncreasel in deblorts Increase in creditor5 156,615) {10,988) Cash gènerated from operatlons 506 553 683 909 23