SAT KAIVAL CIRCLE REGISTERED CHARITY NO 295089
ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
SAT KAIVAL CIRCLE REGISTERED CHARITY NO 295089
TRUSTEE ANNUAL REPORT
The trustees present their annual report and financial statements of the charity for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.
GOVERNING INSTRUMENT
The Sat Kaival Circle is primarily governed by the Constitution adopted on 20 July 1986
OBJECT OF CHARITY
The Sat Kaival’s Circles’ aims are: -
The Charity is established for the advancement of the Hindu Religion in accordance with philosophy of His Divine Shreemat Karuna Sagar and to advance the education and understanding concerning aspects of Hindu Religion.
In furtherance of these objects Sat Kaival Circle will
-
Provide a meeting place for members of the Community
-
Hold services etc
-
Create a religious atmosphere and infusing a spirit of service, fraternity and brotherhood amongst the members and the Hindu Community at large.
DEVELOPMENT, ACTIVITIES AND ACHIEVEMENTS
The Trustees consider the results of the Association this year have been satisfactory. The loss for the year was £2,572, as shown on page 6 of the accounts.
Sat Kaival would not be able to provide such a wide service to its members without the continued support of the member number of willing management members who give their services voluntarily.
TRUSTEES
The names of the Trustees at 31 December 2024 were as follows: -
Mr Yashwant P Patel Mr Avin N Patel Mr Pankaj R Patel
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SAT KAIVAL CIRCLE REGISTERED CHARITY NO 295089
In addition to the Trustees, there is an Executive Committee to whom the management of the Charity is entrusted. The Executive Committee members are the Charity members having the control and management of the charity and their responsibilities should not be transferred in any manner unless a breach of the law or constitution has occurred. Decisions are made by majority vote.
Mrs Rohini Y Patel Mr Jyotin K Patel Mrs Kalpana J Patel Mr Jaimin R Patel Mr Avin N Patel Mrs Anju B Patel Mr Pankaj R Patel Mrs Sonal M Patel
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SAT KAIVAL CIRCLE REGISTERED CHARITY NO 295089
RESERVES POLICY
There is no Reserves Policy. Surplus funds are maintained for future unrestricted expenditure. They provide sufficient funds to cover management, administration and support costs.
STATEMENT OF TRUSTEES RESPONSIBILITIES
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice)
Law applicable to Charities in England and Wales requires 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) Observe the methods and principles in the Charities SORP;
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(c) Make judgements and estimates that are reasonable and prudent;
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(d) 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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(e) 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 that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
APPROVAL
This report was approved by the Executive Committee on and signed on their behalf.
…………………………………………..
TRUSTEE
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SAT KAIVAL CIRCLE REGISTERED CHARITY NO 295089
INDEPENDENT EXAMINER’S REPORT
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
• to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER’S STATEMENT
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below
INDEPENDENT EXAMINER’S STATEMENT
In connection with my examination, no matter has come to my attention
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which gives me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
……………………………….
Date
DIPESH PATEL ACA 63 KINGSWOOD ROAD BROMLEY KENT BR2 0NL
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SAT KAIVAL CIRCLE REGISTERED CHARITY NO 295089
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| INCOME AND ENDOWMENTS FROM: Donations and legacies 1(c) Investments 1(d) Other Total income EXPENDITURE ON: Charitable activities Other 1(e) Total expenditure Net income/ (expenditure) and net movement in funds before gains and losses on investments Net gains/ (losses) on investments Net Movement in funds during the year RECONCILIATION OF FUNDS Total Funds Brought Forward Total Funds Carried Forward |
RESTRICTED UNRESTRICTED TOTAL PRIOR PERIOD FUND FUND FUNDS FUNDS 2024 2024 2024 2023 £ £ £ £ 1,628 25,365 26,993 7,290 - 788 788 756 - - - - |
|---|---|
| 1,628 26,153 27,781 8,046 |
|
| - 30,584 30,584 2,722 - - - - |
|
| - 30,584 30,584 2,722 |
|
| 1,628 (4,432) (2,804) 5,324 |
|
| - 232 232 402 |
|
| 1,628 (4,200) (2,572) 5,725 76,336 65,532 141,868 136,143 |
|
| 77,964 61,332 139,296 141,868 |
There were no recognised gains or losses for 2024 other than included in the Statement of Financial Activities.
All income and expenditure derive from continuing activities.
The notes on pages 8 to 10 form part of these accounts.
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SAT KAIVAL CIRCLE REGISTERED CHARITY NO 295089
| BALANCE SHEET AS AT 31 DECEMBER 2024 FIXED ASSETS NOTES Tangible assets 2 CURRENT ASSETS Investments 3 Stamps Cash at Bank and in Hand CREDITORS DUE WITHIN ONE YEAR 4 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES INCOME FUNDS Unrestricted Funds Restricted Funds 6 Total funds |
2024 £ 146 5,951 - 134,718 140,669 1,519 139,150 139,297 61,332 77,964 139,296 |
2023 £ 172 |
|---|---|---|
| 5,719 - 135,977 |
||
| 141,696 - |
||
| 141,696 | ||
| 141,868 | ||
| 65,532 76,336 |
||
| 141,868 |
These Financial Statements were approved by the Executive Committee on and signed on its behalf by
.............................................. TRUSTEE
............................................... TRUSTEE
The notes on pages 8 to 10 form part of these accounts.
NOTES TO THE ACCOUNTS
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SAT KAIVAL CIRCLE REGISTERED CHARITY NO 295089
AT 31 DECEMBER 2024
1. BASIS OF PREPARATION AND ASSESSMENT OF GOING CONCERN
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern for at least twelve months from the date of approving the accounts.
(a) INCOME AND EXPENDITURE RECOGNITION
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably
(b) DONATIONS
Donations are credited to the income and expenditure in the year in which received.
(c)
INCOMING RESOURCES
Incoming resources are reported gross.
(d) DIRECT CHARITABLE EXPENDITURE, FUND-RAISING MANAGEMENT AND ADMINISTRATION
Direct charitable expenditure comprises all expenditure directly relating to the objects of the charity.
(e) STOCKS
Stocks are valued at the lower of cost and net realisable value.
(f)
FIXED ASSETS
Depreciation is provided on the reducing balance been over the expected useful lives of each category of tangible fixed assets.
Equipment 15% Reducing Balance Fixtures & Fittings 15% Reducing Balance
(g) FIXED ASSET INVESTMENTS
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SAT KAIVAL CIRCLE REGISTERED CHARITY NO 295089
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. The Trust does not acquire put options, derivatives or other complex financial instruments. The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.
(h) REALISED GAINS AND LOSSES
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
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SAT KAIVAL CIRCLE REGISTERED CHARITY NO 295089
NOTES TO THE ACCOUNTS AT 31 DECEMBER 2024
2. FIXED ASSETS
| Fixtures Fittings COST £ At 1 January 2024 3,343 Addition at Cost - At 31 December 2024 3,343 DEPRECIATION At 1 January 2024 3,296 Charge for the Year 7 At 31 December 2024 3,303 NBV @ 31 December 2024 40 NBV @ 31 December 2023 47 3. INVESTMENTS Investments are held in the following categories: Listed Investments Cash Bonds |
Equipment Total £ £ 737 4,080 - - 737 4,080 612 3,908 19 26 631 3,934 106 146 125 172 2024 2023 1,951 1,719 4,000 4,000 5,951 5,719 |
Equipment Total £ £ 737 4,080 - - 737 4,080 612 3,908 19 26 631 3,934 106 146 125 172 2024 2023 1,951 1,719 4,000 4,000 5,951 5,719 |
|---|---|---|
| 4,080 | ||
| 3,908 26 |
||
| 3,934 | ||
| 146 | ||
| 172 | ||
| 2023 1,719 4,000 |
||
| 5,719 |
The cost of the listed investments at 31 December 2023 was 529 shares x £3.69 =£1,951 (2023 -£1,719). 250 Bradford and Bingley Shares suspended 29/09/2008.
4. CREDITORS Amounts falling due within one Year
Accruals 1,519 -
5. NET SURPLUS FOR THE YEAR
This is stated after charging:
Auditors Remuneration
6. RESTRICTED FUNDS
Restricted funds are monies collected for Sarsa to be used for charitable purpose in India.
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SAT KAIVAL CIRCLE REGISTERED CHARITY NO 295089
INCOME AND EXPENDITURE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
| INCOME Donations Received Sarsa Aarti Receipts Photocopying Receipts Interest Receivable (Gross) Dividend Received Ankot Miscellaneous LESS: EXPENDITURE Catering Expenses Printing, Postage & Stationery Donation Hire of Hall & Cleaning Audio & Video Decorations Travel Life Subs Audit & Accountancy Fees Depreciation Miscellaneous NET SURPLUS/LOSS FOR THE YEAR BEFORE GAINS/LOSSES ON INVESTMENTS Net gains/ losses on investments NET MOVEMENT IN FUNDS DURING THE YEAR |
283 1,150 13,521 6,880 3,463 1,250 3,621 - - 26 390 |
£ 2024 23,117 1,628 1,409 - 788 - 839 - 27,781 30,584 (2,803) 232 (2,571) |
- 802 105 - 1,785 - - - - - 30 - |
£ 2023 4,976 917 573 - 756 - 824 - |
|---|---|---|---|---|
| 8,046 2,722 |
||||
| 5,323 402 5,725 |
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SAT KAIVAL CIRCLE REGISTERED CHARITY NO 295089
STATEMENTS OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Contents | ||
|---|---|---|
| Page | ||
| Trustees Annual Report | 2 - 4 | |
| Independent Examiner’s Report | 5 | |
| Statement of Financial Activities | 6 | |
| Balance Sheet | 7 | |
| Notes to the Accounts | 8 – 10 | |
| Income & Expenditure Account | 11 |
| Trustees | See Attached Report |
|---|---|
| Charity Number | 295089 |
| Charity Address | 28 Stone Road |
| Bromley Kent | |
| BR2 9AU | |
| Independent Examiner | Dipesh Patel ACA |
| 63 Kingswood Road | |
| Bromley BR2 0NL | |
| Bankers | Santander |
| Bridle Road | |
| Bootle | |
| L30 4GB |
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