Charfty reglstratlon numbor 280019 DEVOTIONALASSOCIATES OF YOGESHWAR ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
DEVOTIONAL ASSOCIATES OF YOGESHWAR LEGAL AND ADMINISTRATIVE INFORMATION Tru¥tevs 8 J Patel S Joshi P Patel A Tank A D P8ntho Charity numhr 280019 Rfrgl8tsrnd offlce Yog8shwar House 6 Fairholme Road Harrow Middlesex England HA12TN Audltor LB Group Llrnlled IColchestef} Thè Octagon Suite E2, 2nd Floor Mlddleborough Colchesler COI ITG
DEVOTIONALASSOCIATES OF YOGESHWAR CONTENTS Trustees report Independent audllorfs report Stalernent of flnanclal adivrt6e¥ Slatsm&nl of finandal po8lllon Stslemenl of cash flows No1&3 to the financlal slalernenl 9.15
DEVOTIONALASSOCIATES OF YOGESHWAR TRUSTEES REPORT FOR THE YEAR ENDED 31 MAY2024 The trustees present Iheir annual report and financial s18ternents Ihe year ended 31 May 2024. Thè finBnual ststÉm•nts havè bèÉn prèpared in 8¢cordance with the accounting polirAes set out in note 110 the flnanBlal 51alernenls and CDrnply wRh the charilrfs deed of Irusl. the Charilles Act 2011 and 'Accounling 8nd Reporting by Charities.. Slalemenl of Recommended Practice applicablè to charitiès prèp8ring their accounts in aGcordance wllh the Flnancial Reportlng Standard applicable in the UK and Republlc tsf Ireland IFRS 102)" {effective 1 J8nuary 20181. Oblective8 and actlvltles The oblectives of the charity are lo.. -Advanc8 aducalion in tha fiald of phlloso]y. sodology, culture and rellgl¢n wllh Bpecrfic emphaEiS on the Vedgs. - Advance Hlndu rallglon through the promollon of Vedlc phllosophy ènd cullurn. Relieve poverty. slckness and the effects of natural or othei disasters. Donate the nel Income of the Trust properties or any part IheTeof lo any charltable InsiTtutlon wilh any of the 6am8 or similar obj¢Gi8. The truBteeB have paid due regaTd lo guldynce Issued by the Charfly Comm188ion In declding what actIlIeS the charity should undertakè. AchlevementB and p•rformanc• Flnanclal Tevlew 11 Is Ihe policy of the charity lo maintain an unrestrfcled lund.. this Is tho free rgserve of tho charlty. The fund 19 mainlalned al a Ve1 that provtdés 5uffid8nl funds to cover managemÈnl 8nd admlnlslrallon costs ol the charity lo megl annual grant applleAllons. Unreslrlatad lun¢Js were m8lnl8lnéd al this level throughout the year. In Order lo ach10 grfralgr off8cllvenos8 in aGhl8vlng th• ¥lated oblectl$, the TnJBlee8 ar8 of the oplnlon that it l¥ essenllal for th& charSty lo acqulre preml¥e8 In both London and Lelcsler and Ihèy es1imBI8 the total cost for th9 o locallons lo bo five to SIX mllllon ppunds glerling. The property market is und8r r8v18w for prop8rtie8 In both cllles 8uilable lo accDmtnDdate 400 lu SOO dgvotee8, wllh lacllilles lo conduGt classe5 for Chlldren and youth groups and parking foT 200 vehicl&B. The Trustees have a duty lo identify and Teview the Tisks lo which the charity l¥ exposed and lo ensure appTopriatg controls are in place lo provide re8$onablg assurance against fraud and gir. The Trustees have examined the rnajor strategic, busines5 and operational risks Ihal tha charity face¥ and confimi that Ihefe are adequate procedures in place lo18ssen Ihese risks. Plans for luturo porknds The Twslees are happy lo report that after succes8fulty completing refL5rbishing of propety In Leicester al 3 Fullhur81AveNe, LE3 1 BL, no futher improvement was nece$68ry to both properUe5 In London and LeScesler. The Trustees are also happy to report that Ihey have also continued to look for a suitsble land or property In the Easl London areas lo seNe the needs of Hackney. Ilford. East Ham and Dggenham cenlres lo gccommodalg 200 devotees and car parking facilities for them. The Trustee8' alm Is to accLunulale sufficient funds to be able to acqLMre such premises as and when they become available. In pursuit of this obleclive, 811 delegates attending a1vIties. including volunt8ers, pay for Ihelr own travel, bc*8rd and lodging expenses. structure. governancg and management The charity is controlled by 115 govprning document, a Deed of Trust, ond wnslitules an unlncorporated tharity.
DEVOTIONAL ASSOCIATES OF YOGESHWAR TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MA Y2024 The trustees VAJO served dumg the year and up to dale of signature of the fancIal statements were.. 8 J Patel S Joshi P Patel A Tank A D Pancholi None of the trustees has any benefidal Intsresl in the company. All of the Iru51ee5 we members of Ihg compary and guarantee lo contribute £1 in the event of a winding up. The charity w8s eStsbshed by a Decl8r81ion of Trust dated 25 ApTiI 1980 and is a registered charity. It is govemed by a B08rd ¢f Trustees which is responsible for 31rategic direc1ion of the organisalion and for establishing policy. The Trustees ol the charity meet regularfy in order to carry out the above obleclive& Statsment of trnste99 re5ponsibilitie$ Th& Iruslees are responsible for preparing the Twustee5 Report and the financlal slatem&nls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom G?nerally Accepted Accounting Practice). The law applicable to tharilies in England and Wales requires the trustees lo prepare finanal ststements for ea¢h financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In pfeparfng these financlal slatemenls. the trustees are requlred lo.. - select suitable accounting poliaes and then apply them conslstantly.. - observe the rnelhods and principles in the Charities SORP., make judgements and eslimales Ihat aro reasonabl¢ and prudent-. slate whether applicable accounting standards have been followed, SLknject to any material departures dls¢losed and explained in the financial statements,. and prepare the financial slalements on the g)ing concern basis unless il is inappropriate to presume that the charity will continue in operatn. The Iruslees arè responsible lor keeping SLrffjeiènl accounting re¢ords that dlsclose with reasonable accuracy at any lime the financial posilton of the charity and enable them lo ensure that the finanal statements cornply with the Ch3ritiesAcl 2011, tha Charity (Accounts and Reports) Regulations 2008 and the provisions of th8 trust d8ad. They grè also responsiblè for safeguardin9 the assets of the charity and hencè for taking rèasonab st8ps for the prevention and detection of fraud and other irregularities. The lees report wa8 approved by Ihe Board ofTnJstees. A Tank TNst8e A D Pancholl TN¥tse
DEVOTIONAL ASSOCIATES OF YOGESHWAR INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF DEVOTIONALASSOCIATES OF YOGESHWAR Oplnlon We have audited the fin81 statements of Devoth)nal Asso¢iates of Yogeshwar Ith8 '¢harty'l for the ygar ende(I 31 May 2024 which wmprise thè ststement of financial activi8. the ststement of financi¥l position. Ihp Ststement of cash 11ows and notes to the finanual statèments. tnduding s1gnffi¢nt accountiThJ policie& The ffinancial reportiNJ framework that has been aPFAted in Ihelr preparation 1$ appwle law and Unrted Kingdom Accounting Standards. nduding Fin8ncial Raporting Siandard 102 Th8 finan81 Reporting Sland8rd a&blo in the UK and RbC ol 1rn18nd (United Kingd¢n Genoraly A¢xeptedAcoJunlry P[cl. In our opiniw. thg financial statements.. give a true and fair Mew of the stsle of the charitys affatr$ a$ al 31 May 2024 gnd of its wjcomlng SOurceS and application of resources. for the year then ended., have been Pfoperty prepwed in accordan with United Tr(ngdom G•TalY Ac£ept8d Arn)unting Practica: and have been prepared in aonI¥ne¢ with the requlwnwnts of Iho Charitlos Act 2011. B•sl• for oplnlon We Gonducled our audit in accordanc vilh Intunalional Slandards on Audilng (UK) {ISAs IUIQ) and applicable law. Our responsieS under those Standards are furthef doscribgd in th& Audilorfs responsthllilies for the audit ol th& fin8nual stalemenls seclion of our report. We are indeptsndenl of Iho chaflty In ac¢ordanco whh the elhlGal requirements that are relevant lo our a1 of the finanaal slalements in the UK. including the FRC'S Ethlcal starKlard, 8nd we have fulfilled our other elhlcal responsd)ilrfi&8 In accordancg wilh these requirements. beh'eve that the audll evldence we havg 1)btsined 5$ and awoprlat• to pThld• a basls for our OnIon. One510n• r•latlng to golng conc•rn In audilng the financial statements, we have cxJndLKled Ihat the trustees use of thè gcing concem basls of accoLmling In the prepwatKJn ofthe finanoal $tslements is 8pprowial&. Based on the work we havè performed, wa hth It identified any maknial un¢•rtainlKI8 i•latlng lo ev•nl8 or condiiions that, indiwduAlly or collectwely, may Cast 8pJnrfi¢anl doubt on the charitys ability to continue a going CfJncem for a period of al1ga¥t months Irom when Ihe finanool statèments ore guthoriMd for issu•. Our r8sponsibililie8 and the responbItIeS of tho trustees wilh re5peca to goiTr3 concem arè described kn Ihe relevant sectlon$ of tr15 rewt. Othor Informatlon Tho other information comprf888 the frnal Inclthd In the nUal report other than the financial statements and our audilorfs report Iheretsn. The Iruslees 8re respwslble for the other inlonnation contained within the annual report. Our opinlon on the financAal statefnent5 does r1 IVer Ihe other infomialion And we do not express any form of assurancè ¢onduslon Iher¥on. Our rensiblY is to read the other informatlon and, in doing so. consid8r whether th• olhor inlormalion is rnalerialty InConStent with Ihe fanrAal statements or our knowledgè obtsined In the coursè of th8 audtt. or otherwise appea to be maleiialy misslaled. If we identify such material inconsislet)des or apparent material misslalemen¢s. we are requred to d8lerrTune wheUr this gives rise lo a rnalerial misslatemenl In lh8 financial statements Ihem8elves. If. based on the woth we have perfomiÈd, we concludè that th8ra Is a malerlal mlsslalement ofthi5 Qther informalKJn, we 8re requirnd to report that facL Wg have noltrmng to report in thls Tegard. Matter8 on whlch we ar¢ requlred to roport by •x¢epUon We have nothing te repcKt in respect of the follNing matters in relation lo which the Charities {ACtnts and Reports) Regulations 2008 requ0 us to rewt to you if, in ryjr Op10n. the information given in the ffftancAal staternenls is in¢onslslent kn any Matla[ respect wlh the Iruslees report., or fficient accourrtN)g rets)rds halw nol been kept or the financial statements are nol in agreement wilh the a%ntirj records. or we have not recelbEd all the Infoation and ewanalons we rèquir8 for our audit.
DEVOTIONALASSOCIATES OF YOGESHWAR INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF DEVOTIONALASSOCIATES OFYOGESHWAR Responslbllltles of trustses As explained more fully in the ststemenl of trustees responsibilities. the trustees are responsible for the preparation of the financial slalernents and for being 8atlsfied that they give a true and fair view, and for such internal control as the truslees determine is nÈcèsBary to ènable the preparation of financial slalemenls that are free from material nNsstatement. whether due to fraud or error. In prepating Ihp financial stalomenls, tho trustees are rF$ponsible f assessing the charity's ability to continue as a going concern, disdosing, a5 applicable. matters rplaled lo goin9 C£Jncem and using the going concarn basis of accounting unless the tsu51ees either intend lo cease operatirjns. or have no realistic allemalive bul lo do so. Audltovg responslbllltles for the audlt of the flnanclal statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report In 8c¢ordance with the Act and relevant re9atnS made or hawng efféct th8r8under. Our objectives are lo obtain reasonable assurance about whether the financial Stslemenls as a whDle are free fiDWII material misstslemenl, whether du8 lo ftaud or error, and to Issue an audilorfs report that includes our opinion. Reasonable assurance is a high lèvèl ol assurancè but is not a 9uarantee that an audit conducted in accordan¢? with ISAS (UK) will always detect a material misstaletnenl when il exists. Misslalements Can arise from fraud or ermr and arè consid•r8d material if. Individualty or in the aggregate, they cwld reasonably be expeGled lo influence the e¢>)n¢mic deasl¢ns of users lakgn on the basis of these finan¢ial slalemenls. The extent lo wh¢ch our procedures are pable of detecting irregulaiities, induding fraud, is detailed below. Our approach to id8nlfying and assessing the ri8k5 of material wni851alemenl in respect of iriegularities, including fraud and non-¢otnpliance wilh laws and regulations. was as follows.. The engagement partner ensured that the engagement team collectively had the appropriate cornpelence. capabilitie5 and s115 to Identify or recognise non-compliance wilh applicable laws and regulations,. We identified the laws and regulallons applicable to thè etharity through discussions with Irust8•s and otr management, and from our commèraal knowledge and expèriÈnce of thè charitiés sector., We focused on speafic laws and regulations which we considered rnay have a direBt material effect on the financial statements or the operations of th8 company, including Charities Act 2011. taxation legislation. data protection, anti-bribery, employment, enwronmentsl and he8Hh gnd safety legislation: We assessed the extent of compliance with the law5 and regula*on5 identfieil above through making enquiries of management and Inspecng lègal eorrèspondènce- and Identified laws and regulations were comwnuni¢2led within Ihg audrt team regularty and the team remained alert to instanc8s of non-compliance throughout the audtt. We assessed the susceptibility of the ¢h8rfty's financlal stsloments lo material rnisslatement. including obtaining an understanding of how fraud might occur. by.. aking enquiriès of managamant as to where they considered there was susceptibifty lo frdud, their knowledg& of actual. suspected and alleged fraud-, and Considering th8 intemal controls in place lo millgale rfsks of fraud and nonrfompliance with law8 and regulatlons. To address the risk of traud Ihrough management bias and overrfde of controls, we.. PeTlormed analytical pioceduiFs to idenlfy any unusual or unexpected rÈlstionships', Tested journal entries lo idenify unusual transactions., ReÈwÉd tha intemal controls in place, specificalty around payrol and bank Iransact•Jns- and Assessed whether judgements and assumptions made in d818rmining the accounting e5timale6 were indicative of potenllal b18S. Invostigaled the rationale behlnd significant or Lmusual transactions. It) response to the risk of Irregularities and non-compliance with laws and regulations, we designed procedures which included, bul were not limited to.. AgTeeing financial slalement thsdosurès to undèrlying supporting do¢urnenlalion- Reading the minutes of meellngs of those charged with govemance- Enquiring of managèment as lo actual and potential liligalion and daims., and Rewewing correspondence with the charitys legal advisors.
DEVOTIONAL ASSOCIATES OF YOGESHWAR INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF DEVOTIONAL ASSOCIATES OF YOGESHWAR A furiher description of our re5ponsibililiès Is 8V8ilable on the Finandal Reportlng Council's websile al.. https'.11 www.frc.org.uklaudilorsr8sponsibilrtie& This description forms part of our audil0rf5 report. Your attendon Is drawn to the fact that the charity has prepared flnanclal 51alemenls In accordance with "A¢ctsunling and R8POrting by Charities.. Slalemenl of Recommended Pracllce applicable lo charlties preparing their accounts in accordance wllh the FSnandal Reportlng Standard appllcabl? in Ihfr UK and R&publlc of Ireland IFRS 1021" las amended) in preference lo the ACcounn9 and Reportlng by Charilles- Slalemenl of Recommended Practice issued on 1 April 2005 which is referred lo in the extant regulations bul has now been withdrawn. Th58 ha$ been done in order for tha financial sl8tements to prowde A Iwé and fair w8w in accordance wllh Gurrent GenerallyAccepl8d A¢untIng Practke. of our r•port Thls report Is made solely lo the chanly's trustees, as a body, in acwrdanGe with part 4 of Ihe Charities lAcunIS and Reports) Rggulatlons 2008. Our audlt work has been undertaken so that we mlghl slate lo the charitys Iru81ee8 th08e rnatter8 we are requlred lo 8lale lo them in an audilo¢s report and for no other purpose. To the fulle51 extent permitted by law. we do not accept or asBume responsibility lo anyone other than th8 tharty and the charlt*8 Irusteo8 8$ 8 body, for our 8udil work, forthis report, or for the opinions wa have formed. Ollv•i Whlt• IS•nlor Statutory Audltorl for and on behalf of LB Group Llmlted IColcheJJt•r) hart•r•d Accountants statutory AudltOT The Octag Suite E2. 2nd Floor Middleborough Colchegler C01 1TG LB Group Limhad IColch8slèr) Is ellglbfe for 8ppoinlmenl as auditor of the charity by vlrtue of ils gligibllity for appolnlmenl 88 audhor of a company under seclSon 1212 of the CompaniesAct 2QO6.
DEVOTIONALASSOCIATES OF YOGESHWAR STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MA Y 2024 Unrestricted Unrestrlctsd funds funds 2024 2023 Notss Income from: Donations and legacies Investrnents 519.956 127.054 491,433 29,382 Totsl incomo 647.010 520,815 bla activi ies Governance Costs 47,811 35,421 Totsl charitablg oxpenditurè 47.811 35,421 Net Income forthe yearl Net movament In funds 599.199 485,394 Fund balanc8s at 1 June 2023 5,932.637 5,447,243 Fund balances at 31 May 2024 6,531,6 6,932,637
DEVOTIONAL ASSOCIATES OF YOGESHWAR STATEMENT OF FINANCIAL POSITION ASAT31 MAY2024 2024 Flxed assots Tsngibl8 asse18 1.195,180 1.197.005 CuThentass6ts Stocks Debtor5 Investments Cash at bank oftd In hand 10 11 12 94.158 50.757 19,CX)O 5270,867 32.994 2.909 19.000 4.741.382 -4-,798..285- Credltors: amounts f•lllnp du• wlthkn 13 198,126> (10,653) rTant assets 5,336.656 4.735,632 Total •888ts I•Bry currnnt11oblllll 6.531.836 5.932,637 Income fund• Unrnstrlcted fvnd8- gonwBI 8.S31,836 5,932,637 6.531,836 5.932,637 Thg flnanclal Wgrn 4PPfDved byth?TnIS an.. ATrnk Tru8t•0 A D Paneholl
DEVOTIONALASSQCIATES OF YOGESHWAR STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MAY 2024 2024 2023 Notes Cash flows fr¢m oporatlng actlvltig8 Cash generated from operation8 17 402.431 480.593 Invesllng actlvltles Investm8nl income recelved 127.054 29,382 Not cash g•noratod fram inv•stlng actlvltles 127.054 29,382 Net ca•h ujed In flnanclng J¢tlvltlg¥ Not InGreaw In ¢agh and ¢a•h •qulvalonts 529,485 509.976 Cash and cash equlvalenls at begknnlng ol year 4,741,382 4.231,407 Cash and co8h equlvalents at end olyr 5,270.867 4.741,382
DEVOTIONAL ASSOCIATES OF YOGESHWAR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 Accountlng policies Charlty Informatlon Oevotlonal Assoclales of Yogeshwar Is an unlncorporaled charity registered in Enand & Wales. The regislered offic• is Yoge5hwar House. 6 Fairholme, Harrow, Middlesèx, HA12TN The tharttl prln¢lpal actlvS11os are dlsclosed In the Tru61ees' report. 1.1 Accountlng ¢onventlon The financial statements hav8 bèen prepad in accordanc8 with IhB charity'8 deed of trust, tho Charities Act 2011, FRS 102 'ThÈ Financial Roportlng Standard applicabl8 in the UK and Republlc of Ireland. I'FRS 102 and the Charltles SORP "Ac¢ounllng and Reporting by Charili8s= Slalemenl of Recofflfflended Practlce appllcabl& lo charlUe5 prepadng Ihelr accounts In accordance with the Finandal Reporting Standard applicable in the UK and Republlc of Ireland IFRS 102)" leffeclN& 1 January 2019). The charity is a Publlc Benefit Enlily as defined by FRS 102. The flnanclal stslemenls have depgrted from the Chafi1Ses (Accounts and Reports) Regulations 2008 only Ic¢ the extent required lo provide a true and lak Vlew. Th18 departure has Involved following th8 S181em8nl of Recommended Practice for charities appIng FRS 102 rather than the ver$lon ol the Slalem&nl of Recomménded Practice whlch 18 referred to in Ihg Regulations bul whlch ha8 slnce beon wlU)drèwn. Thè ftnAncl81 slalèrnenls are prepared In sterling, which 15 the luncllon81 currency ol the charlty. Monetary amounts In th838 ffinancial 8talements ar8 rounded to the ne8rest £. Tho ffinanclal statements have b88n pr8parod und•r the h15toric81 cost conv8nlion. Tho prlnclpal accounting )lic185 adopted are s81 out below. 1.2 Golng cone•rn The re8erve8 are al a lfrvel that can suslaln tha runnlng co8t8 for a perlod of in èxce8$ of12 monihs and on that b83ls th8 charity18 a golng concem. There are no materi81 UnrtaInl188 regardlng golng concern. 1.3 Charltablfr fund• Unr8strict8d funds ar8 av811gbl8 for use 91 th8 dlscretlon of Ihe Iruslee5 In fLWtherarKB of Ihetr charilablg oblectSvès. Restricted funds are subjecl lo specific conditions by donors as lo how they may b8 used. The purpo8e¥ and uses of the reslricled funds are sel out in the notes to the finanaal slalemenls. Endowm&nl funds are subject lo Spedffc condlllons by donors that the capllal mu81 be malntalned by the tharily. 1A Incomg Income is regnised when the charity is legally enlilled lo it after any performance condition8 have been ffl81. the amounts can be measur8d reliably. and it is probable that income will b8 r8ceiv8d. Cash donations ale recogni¥ed on recelpl. Other donallons are regnised once the charity has been norIe[l of the donallon. unless performance conditions requlre deferral of the 8mounl. Income lax recoverable relation lo donations received under GiftAid or deeds of covenant is recognlsed al the Ilmè of the donatlon. Legades are rgcognised on recelpt of ¢)therwise rf the charity has been nolffied of an impending distribution. the arnDunt is known, and receipt is expeded. If the amount is not known, the legocy is treated as a contingent asset.
DEVOTIONAL ASSOCIATES OF YOGESHWAR NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024 Accountlng pollcle8 Icontlnuedl 1.5 Expenditur• Expenditure is regnIsed once there is a legal or constructive obligallon lo transfer aconomic benèfit to third party. il is probable that a transfer of economi¢ beneflts wlll be rgqulr9d In solU8ment, and thè amount of Ihe obligation can be measured reliably. Expendllure Is oiassffled by aotSvliy. The costs of e8ch aclthty are made up of the lolal of direci costs and shared costs, Including support costs Involved in undertaklng each activity. Direct costs 811ributabl& to a 8irigle actiwty ara allocal8d dir8clly to that sctivity. Shared costs which contribute to more than one aclivlly and 8UPPOrt costs whlch are not attributable to 8 single acllvity are apporlioned been those actiwties on a bas18 cons151enl wilh the usè of resources. Central staff cos15 ar8 allocaled on th8 bBsis of tsme 8penl. and deprecl8tlon charges are allocaled on the portion of the ass8t's use. l.fj Thnglble fix•d 188èts Tangible fixed as8el8 are knlllally meAsured al cost and subsequenlly measured at ccsl or valuallon, net of d8pr8clallon and any Imp8lrmgnl losses. Depreciallon18 1?cognlsed 80 as lo write off the c061 or valuolion of 8$8o191988 Ihgir resldual Vae8 overthelr U8eful Ilve8 on the followlng bases: Freehold land ond buildlngs Flxlur08 and fltting8 Nll charged as resldual value exceeds cost 169A reduclng bglgnce The galn or loss ari$lng on the disposal of on asset is delemilned a8 the diffgrgnco between th8 s81& pro¢¢eds and the carrying value of the as8&1, and18 fecognised in the slaiemenl ol flnanclal aclivilies. 1.7 ImpaSrnient of flxed asgets At e8ch reportlng end dalè, the ¢harlly revlews Ihe carrylng amounlg ol Its langlblo asso18 lo dotermSn8 whèthèr ther• Is any indlcallon that those as$éls havè suff&r8d an Impalrm8nl loss. If any such Indlcalon exlsls, the recoverable amount of the a8sel 18 eslimaled Sn order lo delermlne the extent of the impairment loss lrfanyl. 1.8 stocks Stocks are stsled 81 the lower of co$1 and eslimaled Belling price less c051s to cornplele and sell. Cost comprf98s dlrgGI malerfa15 and, Whe oppli¢able, direct labour co$ls gnd those overt)eads Ihat have been Incurred in bringing Ihe stocks lo Ihelr pro9enl locallon and condllion. Il¢ms held for dl$lribulion al no or nominal consideTalion are fflga8ur8d Ihe lower of replacement CO8t and cost. N81 realisable value is the estimated selling PTice leBS all eBlimaled cost3 of cornplglion and cos18 lo be Incurred in markellng, 80lllng and dlslrfbullon. 1.9 Cash and Cash equlvalgnts Cash and cash equivalents include cash In hand, deposlts held at call wllh banks, other short-tem liquld Inveslmènls wlh original maturitiés of three month5 or less, and bank overdrafts. Bank overdraft5 are shown within borrowirwJs in ujrrenl Nabllrfles. 10-
DEVOTIONAL ASSOCIATES OF YOGESHWAR NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024 Accounng pollcies Icontinugd) 1.10 Flnanclal instruments Thè charity ha8 elècted lo apply the provisions of Section 11 'Basic Financial Instruments, 8nd Section 12 'Oth8r Finandal Instruments Issues. of FRS 10210 all of its financial instrufflenls. Flnancial instruments ar¢ reGognised in the charfty'3 balance Sheet when thè tharity bècomas pBty to th8 tonlraclual provlslon5 of the inslwment. Flnanclal asso15 and liabilitieB are olf8et, wlth the net amounts PTès8nl8d in the financial 51alemenls. when there18 a Ipgally enfOrab]e right to set off the recognised amounts and there Is an Inlenllon to 8ettl& on a n&1 basis or to realise the a88et and seluè th8 li8blity simullBn8ously. Baslc Ilnanclal assets Basic flnanc181 assets. whlch InGlude debtors and cash and bank batance8, are Initially me88ur8d al Iransacllon prfce includlng IransaclSon Gosts and are subsequently carried al amortls8d co81 using the effecllve In18re$l method unle85 the arrangement conslilutes a financing transaction. where th8 transaction i measured al the present value of the lulura receipts dlscountèd at 8 mark81 rBla of interest. Financi91 assets classlfled a8 receiv8ble wllhln on8 year ar& not amort18èd. Bask Ilnan¢lal Ilabllllles Ba81c lin8ncl81 IlabllNl8s. includlng creditors and bank loan8 afg Inlllally Tecognised al Iransacllon price unles5 tha arrangement conslllules a Inanclng transaction, where Ihe debt Inylrumgnl Is measured at the present valuè of the fulure paymgnls dlscounled a18 market rale of Inlereyl. Flnanclal118bllilles da88ined 88 payable withln one year are not amorti8ed. Debt In8trum&nls are svb8aquèntly carriod al amortl8ed cost, uslng the effedve Snlera81 rale rn&lhod. Trade cr6ditor$ ore obligatlons lo pay for goodg or $Èrvlces that have boen a1red in the ordinary Gourse of operaliDn8 from suppliers. Arnoun15 payable are cla96ified a8 current Ilabi1I11g$ If poymenl 53 due wllhin one yeor gr less. If not, they are près8nled as nonthcurr8nl liabilitie5. Trade credilois are fecogni8ed Inlllally at transaOn prfce and sub8oqu•nlly mèasured al amortlsed cost u$Sng tho 8ffeGtive interest m81hod. Derncognltlon oi finanelal Ilabllltl Flnancial 1Sabilitie8 at8 dgrecognl8ed when th8 charlty'8 ojntractual obllgallon8 explre or are d18charged or cancelled. 1.11 Employeg bgnefliB The cost of any unused hollday enlltlemenl 18 recogni8ed in the period In whlch the 8mploy80's s8Nlces are received. Termination benefits are Tecognlsed immediately as an expense when lh8 charlly Is demonstrably committed lo termin818 tha 8mployrnenl of an employee or to prov(de lermlnatlon benefits. CrftIcg1 •ccountlng •9tlmateg and ludgements In the appllcation of the charity's accounting pollcies, the trustees are requlred to make judgements, e8llmales and assumplons about the carrylng amount of assets and118bllKlès Ihal are not readily apparent from other seur¢es. Thè aslimates and assoaaled assurnplions are based on hisloiical experience and other factors that ar8 con51dered lo be relovanl. Actual Tesults may drffer from these eslimale8. The eslimates and undeTlylng assumpions are reviewed on an ongoing basis. Revisions lo a¢counling estimates arp recognlsed in the period In whlch th8 gstimate IS revised where tho revlsion affects only thal pèriod. or in the period of thè rèwsion and future pertods Whe the revision affects both current and futwa p?¥iods.
DEVOTIONALASSOCIATES OF YOGESHWAR NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2024 Donatlons And Iggaci Unrestricted Unrestricted lunds funds genoial 9eneral 2024 2023 Donatlon$ and gifts 519.960 491,434 Investmènts Unmtrlct•d Unrestrlcted fund¥ funds g•n•ral ganeral 2024 2023 Depo811 account Inlèresl Current 0s891 Inv8stmenl Income 12eAOO 654 29,059 127,054 29,382 Support co•ts Support Govornance ¢08t8 costs 2024 2D23 Audlors, Remuneration Support Co816 2,880 4S,134 2,880 45,134 1,350 34,071 47,814 47,814 3S,421 Tru8t••g None of the trustee$ lor any persons connected with them) racolv8d any remunerallon or beneflls from the charily durlng Ihe year. Therg were no Trustees. expen$e8 pald for Ihe yoar 8nd8d 31 May 2024 nor forthe year ended 31 May 2023. 12-
DEVOTIONALASSOCIATES OF YOGESHWAR NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2024 Employees 2024 Nun*•r 2023 NuMr Total There were no staff cost8 paid for ye8r ended 31 MAY 2024 nor for the year ended 31 May 2023. Th8r8 wer8 no èmployeès whosè annual r8mun8ration was moro than £60,000. T•nglbl• fix•d a88•ts Itreehold knnd Vlxtures and and bulldlnlls Itttlng• Totsl Co•t Al 1 June 2023 1.184,839 92,431 1.277,270 Al 31 May 2024 1,184,B39 92,431 1.277,270 O•pr•¢latlon and ImpaIOnt Al 1 June 2023 Dèpreclauon charged In the year 80,265 1,825 80,265 1,825 At 31 May 2024 82,090 82,090 Carrylng amount Al 31 May 2024 1,184,839 10.341 1,195.180 At 31 May 2023 1,184,839 12,166 1,197.005 Flnanclal In$tfum•nts 2024 2023 Carrylng amount of flnanclal a88ets Instruments measured at fair value Ihrough profft or IDSS 19,000 19,000 10 Stocks ZO24 2023 Flni8hpd goods and goods for resale 94.158 32,994 11 D8btors 2024 2023 Amounts falling due wlthln one year. Prepayments accrued Income 50,757 2,909 13-
DEVOTIONAL ASSOCIATES OF YOGESHWAR NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2024 12 Current aSBet InveBtments 2024 2023 Nallonal Savlngs 8ond 19.000 19,000 13 Cr•dltor8: amounts falllng the wlthln one year 2024 2023 Trade creditors Other cr9dllors Accru81s and dèfarrgd Incomg 31514 83,372 2.240 32,514 26,960 1,179 98.126 60,653 14 Unr•¥trlGtsd tund• The8e are unrestrlclod funds whlch are material lo Ihg charlty's acllvi11gs made up as foll¢)ws.' movont In lundj BalAnc• at Incom• Bnd Bolanco at 1 Juno 2023 •xpondltuY¢ al May 2024 General fund Ladiés Vlbh8g fund Yogeshwar Kru8hl fLmd Semlnars fund Ovgrsgas Bhavferi fund Youlh Centre fund 5,713.313 88.456 83,795 45,582 860 631 595.348 6,308.861 88.456 87.848 45,582 660 831 3.851 5,932,637 599,199 6,531,836 14-
DEVOTIONAL ASSOCIATES OF YOGESHWAR NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024 1S Analy61s of not a88&t$ belan lunds Gengral Ladies fund Vlbhag fund 2024 Yoyè6hwarOv•rsea8 Overseas Youth Krushl Bhavferl Bhavl•rl Cèntre fund fund fund fund 2024 2024 2024 2024 Totsl 2024 2024 Fund b3lanca8 8131 May 2024 are represented by: Tangiblg a68e18 Stock Debtors Inveslmenl8 Ca8h at bank arid In hand Cr8thtors 1,1QS,180 94.158 50.757 19,000 1,195.180 94.158 50,757 19,000 S.047,690 198,1261 88,468 87,848 45.582 860 631 5.Z70,867 198,1261 6.308.659 88,456 87,648 45,582 631 6,631.836 10 Rolal•d party tran8aGtSon The folkln9 amounts were outslandkng al the r•porfng end date., Amounts owed by r•latod Amoun18 ow•d by r•lat•d partl•8 partl•8 2024 2023 Balan¢• 8alan¢a N•1 N•t DMn• Youth Group 83,373 63.373 26,960 26,960 63,373 63,373 26.960 26.960 17 Cash g•neratsd from OP•f4tlon8 2024 2023 sUru8 lor Ihg year 505,128 485,395 ADJugtrnents lor.. Inveslmonl incomB recogni5od In 51atempnl of financ&1 activities Depreclabon and Impalrment of lan9ibl& fixed ass8t$ 1127,0541 1,824 129,382) 2,147 Movements In worklng capltal: Ilncreasel in stocks Deereas8lllncr8asel In d8btors Increas& In creditors 162,7881 47,848 37.473 11,6251 12,7501 26,809 Cash Bemratsd frorn operatlon$ 402.431 480,594 18 An•ly618 of changes In not fundB The charlty hod no debt during Ihe year. 15-