COMPANY REGISTRATION NUMBER 02132728
## **MAHAVIR FOUNDATION LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
Charity Number 296175
## **ABM ACCOUNTANCY LTD**
Chartered Tax Advisers & Accountants
10 Love Lane Pinner Middlesex HA5 3EF
**MAHAVIR FOUNDATION LIMITED**
Page 2
## **FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
|**CONTENTS**|**PAGE**|
|---|---|
|Legal and administrative information|3|
|Executive Committee’s Annual Report|4-7|
|Independent auditors’ report|8-9|
|Statement of Financial Activities (incorporating the income and
expenditure account)|10|
|Balance sheet
11||
|Notes to the financial statements
12-18||
|**The following pages do not form part of the financial statements**|19|
|||
**MAHAVIR FOUNDATION LIMITED LEGAL AND ADMINISTRATIVE INFORMATION**
Page 3
|**Registered charity name**|Mahavir Foundation Ltd|||
|---|---|---|---|
|**Charity number**|296175|||
|||||
|**Company registration number**|2132728|||
|||||
|**Registered office**|**Kenton Derasar, 557 Kenton Road, Harrow, HA3 9RS.**|||
|||||
|**Advisory Members**|Mr. Navin Shah|||
||Mr. AnupMehta|||
|||||
|||||
|**Members of the Executive Committee(Company Directors) (Charity Trustees)**||||
|**President**|Mr NirajSutaria|||
|**Vice President**|Mr Mukesh Kapashi|||
|**Company Secretary**|Mr Rajen Shah|||
|**Tresurer**|Mr Sunil Gandhi|||
||Dr. Vinod Kapashi|||
||Mr Chandrakant Shah|||
||Mrs Radha Vora|||
||Mrs Kalpana Shah|||
||Mr Kirit Mehta|||
||Mr Rajkumar Shah|||
||Mr Nilesh Mehta|||
||Mr Amit Mehta|||
|**Company Secretary**|Mr Rajen Shah|||
|||||
|**Statutory Auditors**|**ABM Accountancy**, Chartered Tax Advisers,|||
||10 Love Lane|Pinner,HA5 3EF||
|||||
|**Bankers**|**Bank of Baroda**
213 Kenton Road,
Kenton,Harrow|**CAF Bank Ltd**
25 Kings Hill Avenue, Kings Hill,
West Malling,Kent||
||**Metro Bank**
1 Southampton Row,
London, WC1B, 5HA|**Showbrook Bank**
Lutea House, Warley Business Park,
The Drive, Great Warley, Brentwood,
Essex,CM13,3BE||
**MAHAVIR FOUNDATION LIMITED EXECUTIVE COMMITTEE’S ANNUAL REPORT**
Page 4
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
The Executive Committee Members (trustees) have pleasure in presenting their report and the financial statements of the charity for the year end 31 December 2022.
## **OBJECTIVES AND ACTIVITIES**
The main objectives of the charitable company are the advancement of the Jain Religion and Jain Education in the United Kingdom and throughout the world.
The objectives of the charity, as defined by the constitution are:
- w The advancement in the United Kingdom of the Jain Religion, particularly, but not exclusively, by the provision of the place of worship and study, facilities for other functions of a religious character such as a celebrations of births and marriages and the performance of rites relating to deaths, and the employment and housing of priests.
- w To advance education by providing facilities for study and teaching and research into Jainism
- w The relief of poverty, the advancement of education and protection of health and such other charitable objects as the charity may, from time to time, decide.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Legal and Administrative Information**
Mahavir Foundation Ltd (MF) (Registered Charity No: 296175 Registered Company no 2132728) was incorporated on the 19th May 1987. The Trust Deed governing the Charity was made on the 19th June 1987 and last amended by resolution passed on 24 October 2009.
## **Relations with other charities**
The Charity is an affiliated member of The National Council of Vanik Associations (UK) (registered charity no 1137083) and also associated with One-Jain
## **Risk Management**
The Executive Committee actively review the major risk which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems will provide sufficient resources in the event of adverse conditions. The Executive Committee have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.
## **OBJECTIVES AND ACTIVITIES**
The main objectives of the charitable company are the advancement of Jain Religion and Jain Education in the United Kingdom and throughout the world.
## **Public Benefit Statement**
The executive committee has referred to the guidance contained in the Charity Commission’s general guidance on the public benefit when reviewing the Charity’s aims and objectives and in planning future activities. The executive committee is satisfied that the Charity continues to meet the required public benefit test through its objectives and activities.
**MAHAVIR FOUNDATION LIMITED EXECUTIVE COMMITTEE’S ANNUAL REPORT**
Page 5
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
In accordance with the objectives of the charity various religious events were held virtually and physically during this financial year. There were presentors from UK and outside UK virtually presenting lectures, Swadhyays, Bhavna-Bhakti. During the year Mahavir Foundation celebrated the 10th Anniversary of the Pratishtha of Idol at Kenton Road Temple. During the year, under the leadership of President Niraj Sutaria, many new activities were started. Trust also purchased a property next to the existing site for the future development.
## **Regular events**
Morning P **r** akshal of all idols and Aarti and Pooja are held every day at the Derasar.
## **Individual day/period event on**
- w Janma Kalyanak for all Thirthankars in situ, Ashta Prakari Pooja, Bhakti and Samuh Chaitya Vandan were held at the Derasar. Prabhavna was distributed on occassions
- w Trust organised Chaitra and Aso Ayambil Oli aaradhana for every one. It was well received by Tapashvi of Ayambil Oli.
- w Siddhchakra Poojan and Siddhachal Bhavyatra was held during the year.
- w Paryushan Parva (Derawasi and Sthanakwasi Pratikraman) and Mahavir Janm Vanchan were held at JFS School Auditorium.
- w Swamivatsalya Lunch and Poojan arranged after Paryushan festival
- w Pathshala for children and adults are organised by – My Palak Shah and Dr Saurabh Shah Virtually during Covid pandemic
- w Jiv Daya donation predominantly in UK was made.
- w Pat Darshan was done virually
Mahavir Foundation has carried out many activities through affiliates
**MAHAVIR FOUNDATION LIMITED EXECUTIVE COMMITTEE’S ANNUAL REPORT**
Page 6
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **FINANCIAL REVIEW**
## **FINANCE AND ACCOUNTS**
The Income and Expenditure Account and Balance Sheet of the Charity for the year ended 31 December 2022 are attached. The significant sources of income were:
- (a) On-line income during Paryushan and donations made during other festivals
- (b) Bhandar (donation boxes) and general donations
- (c) Gift aid and tax refunds from HM Revenue and Customs
- (d) Interest on bank deposits
After the end of Covid-19 pandemic, trust has started all its activities physically and carried on with online Aarti and webcasting all events virtually. During the year trust welcome devotees from various cities of UK and abroad.
## **FINANCIAL CONTROLS**
The Company’s Articles require the Executive Committee to safeguard the assets of the Charity. The detailed responsibilities of the Executive Committee in relation to these accounts are set out under ‘Responsibilities of Executive Committee’ on page 8
## **RESERVES POLICY**
Bearing in mind the aims and objects of the Charity, the Executive Committee ensure that unrestricted funds are not invested in fixed and long-term assets, which would stall the progress of the activities. The Executive Committee together with the treasurer regularly monitor the situation from time to time for any un envisaged event and ensure that there are adequate free reserves available for the general purpose of the Charity.
## **INVESTMENT POWERS AND RESTRICTIONS**
The Charity does not hold any substantial funds on behalf of others. Its Executive Committee is empowered to invest prudently the Charity’s surplus cash with a view to secure maximum return. The Executive Committee takes a very prudent view to the investment of surplus funds, as these are being retained for furthering the objectives of the charity. Accordingly, funds not required for expenditure in the short term, are place on deposit with the Charity’s bankers.
## **GOING CONCERN**
After making enquiries, the Executive Committee are satisfied that the Charity has adequate recourses to continue to operate as a going concern for the foreseeable future and have these financial statements on that basis.
## **VOLUNTEERS**
The Executive Committee takes this opportunity to thank all the volunteers for their invaluable devoted time in helping to run the affairs and events of the charity.
## **EMPLOYEES**
Full time permanent staff (on employment visas) has been recruited. Mr Ketan Gandhi has carried out full duties of pujari and some of the administrative tasks since February 2022. Temporary staff covered the absence of the the main pujari/administrator.
**MAHAVIR FOUNDATION LIMITED FINANCIAL STATEMENTS**
Page 7
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **RESPONSIBILITIES OF THE EXECUTIVE COMMITTEE**
The Executive Committee are responsible for preparing the Executive Committee’s Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Executive Committee to prepare financial statements for each financial year, which gave a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.
In preparing these financial statements, the Executive Committee are required to:
- w Select suitable accounting policies and then apply them consistently;
- w Observe the methods and principles in the Charities SORP;
- w Make judgements and estimates that are reasonable and prudent;
- w State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- w Prepare the financial statements on going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Executive Committee are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with Companies Act 2006. The Executive Committee are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the Executive Committee members are aware;
- w there is no relevant audit information of which the charity’s auditors are unaware; and
- w
- the Executive Committee have taken all steps that they ought to have to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
## **AUDITORS**
ABM Accountancy Ltd were appointed by the EC as auditors following the resolution passed at the Annual General Meeting.
## **SMALL COMPANY PROVISIONS**
This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
**MAHAVIR FOUNDATION LIMITED INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF MAHAVIR FOUNDATION LTD**
Page 8
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
We have audited the financial statements of Mahavir Foundation Ltd for the year ended 31 December 2022 on pages 11 to 19 which comprise the Statement of Financial Activities (incorporating the Income and Expenditure account), the Balance Sheet and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and Financial Reporting Standard for Smaller Entities (effective April 2008) (United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities).
This report is made solely to the company’s Executive Committee members, as a body, in accordance with regulations made under section 154 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the company’s Executive Committee members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s Executive Committee members as a body, for our audit work, for this report, or for the opinions we have formed.
## **RESPECTIVE RESPONSIBILITIES OF THE EXECUTIVE COMMITTEE AND AUDITORS**
As explained more fully in the Statement of responsibilities of the Executive Committee (set out on page 7,) the Executive Committee (who are also the directors of the company for the purpose of company law) are responsible for preparation of the financial statements and for being satisfied that they give a true & fair view.
The Executive Committee have elected for the financial statements to be audited in accordance with the Charities Act 2011 rather than the Companies Act 2006. Accordingly we have been appointed as auditor under section 145 of Charities Act 2011 and report in accordance with regulations made under section 154 of the Act.
Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Oreland). Those standards require us to comply with the Auditing Practices Boards’ (APB’s) Ethical Standards for Auditors.
We report to you our opinion as to whether the financial statements give a true and fair view and are properly prepared in accordance with the Companies Act 2006, and whether the information given in the Executive Committee’s Annual Report is consistent with the financial statements.
In addition we report to you if, in our opinion, the company has not kept proper accounting records, if we have not received all the information and explanations we require for our audit, or if information specified by law regarding remuneration of the Executive Committee and other transactions is not disclosed.
We read the Executive Committee’s Annual Report and consider the implications for our report if we become aware of any apparent misstatements within it.
## **SCOPE OF THE AUDIT OF FINANCIAL STATEMENTS**
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the charitable company’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the Executive Committee: and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Executive Committee’s Annual Report to identify material inconsistencies with the audited financial statements. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.
**MAHAVIR FOUNDATION LIMITED INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF MAHAVIR FOUNDATION LTD**
Page 9
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **OPINION**
In our opinion:
- w the financial statement give a true and fair view of the state of the charity’s affair as at 31 December 2022, and of its incoming resources and application of resources including its income and expenditure for the year then ended;
- w the financial statements have been properly prepared in accordance with the United Kingdom Generally Accepted Accounting Practice (applicable to smaller entities); and
- w the financial statements have been properly prepared in accordance with the Companies Act 2006 and the requirements of the Charities Act 2011;
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:
- w the information given in the Executive Committee’s Annual Report is inconsistent in any material respect with the financial statements; or
- w the charitable company has not kept adequate accounting records; or
- w the financial statements are not in agreement with the accounting records and returns; or
- w we have not received all the information and explanations we require for our audit.
................................................ Anil Modi
(_________)
For and on behalf of **ABM Accountancy,**
10 Love Lane Pinner HA5 3EF
Date .......................................
**MAHAVIR FOUNDATION LIMITED**
Page 10
## **STATEMENTS OF FINACIAL ACTIVITIES**
## **(Incorporating the Income and Expenditure Account)**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
|`
**Note**
**INCOMING**
**RESOURCES**
Incoming
resources from
Voluntary Income
**2**
Investment Income
**3**
**TOTAL INCOMING RESOURCES**
**RESOURCES**
**EXPENDED**
Charitable
Expenditure
**4**
Governance Costs
**5**
**TOTAL RESOURCES EXPENDED**
**NET INCOME/(OUTGOING) RESOURCES**
**FOR THE YEAR**
**RECONCILIATION OF FUNDS**
Total funds brought forward *
**TOTAL FUNDS CARRIED FORWARD**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total Funds Total Funds**
**2022**
**2021**
**£**
**£**
**£**
**£**
**235,162 224,077 459,239 134,602**
**27,157**
**27,157 18,329**|
|---|---|
||**262,319 224,077 486,396 152,931**|
||**164,147 28,829 192,976 84,445**
**61,359 15,031 76,389 36,075**|
||**225,506 43,859 269,365 120,520**|
||**36,814**
**180,217 217,031**
**32,411**
**1,700,041 534,547 2,234,588 2,202,177**|
||**1,736,855 714,764 2,451,619 2,234,588**|
All of the above amounts relate to continuing activities.
**The notes on pages 12 to 18 form part of these financial statements.**
**MAHAVIR FOUNDATION LIMITED BALANCE SHEET**
Page 11
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
|**Note**
**FIXED ASSETS**
Tangible assets
**8**
**CURRENT ASSETS**
Debtors
**9**
Cash at bank
**CREDITORS: Amounts**
**falling due within one**
**Year**
**10**
**NET CURRENT ASSETS**
**NET ASSETS**
**FUNDS**
Restricted income funds
**11**
Unrestricted income funds
**12**
**TOTAL FUNDS**|**£**
**£**
1,832,075
95,290
527,381
622,671
(3,127)
619,544
2,451,619
728,647
1,722,971
2,451,619
**2022**|**£**
**£**
1,832,075
95,290
527,381
622,671
(3,127)
619,544
2,451,619
728,647
1,722,971
2,451,619
**2022**|**£**
**£**
1,251,743
66,374
916,472
982,846
0
982,846
2,234,589
534,548
1,700,041
2,234,589
**2021**|**£**
**£**
1,251,743
66,374
916,472
982,846
0
982,846
2,234,589
534,548
1,700,041
2,234,589
**2021**|
|---|---|---|---|---|
|||2,451,619||2,234,589|
|||728,647
1,722,971||534,548
1,700,041|
|||2,451,619||2,234,589|
These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
These financial statements were approved by the members of the Executive Committee on the .............................................2022 and are signed on their behalf by:
.......................................................... ..........................................................
President
Treasurer
**The notes on pages 12 to 18 form part of these financial statements.**
**MAHAVIR FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS**
Page 12
**FOR THE YEAR ENDED 31 DECEMBER 2022**
## 1. **ACCOUNTING POLICIES**
## **Basic of Accounting**
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. The financial statements have been prepared in accordance with applicable United Kingdom accounting standards, the statement of Recommended Practice “Accounting and Reporting by Charities” issued in March 2005 (SORP 2005) and the Companies Act 2006.
The principle accounting policies, which have been applied consistently, are set out below:
## **Cash Flow Statement**
The Executive Committee have been advantage of the exemption in Financial Reporting Standard No 1 from including a cash flow statement in the financial statements on the grounds that the charity is small.
## **Company Status**
The Charity is a company limited by guarantee. The members of the company are the Executive Committee named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
## **Donations**
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be qualified with reasonable accuracy.
The voluntary income is received by way of donations and gifts and is included in full in the statement of financial activities and recognised in the year in which they are received, or when the Foundation is legally entitled to the income.
The value of the services provided by the volunteers has not been included in the accounts as no monetary value can be assigned.
## **Subscriptions for Membership Policy**
Life membership subscriptions are accounted for a cash receipt basis.
## **Fund Accounting**
General funds are unrestricted funds which are available for use at the discretion of the Executive Committee in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Executive Committee for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements if there are any.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors or by appeals which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
**MAHAVIR FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS**
Page 13
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1. ACCOUNTING POLICIES** _(continued)_
## **Resources Expended**
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes VAT which cannot be recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance Costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.
## **Tangible Fixed Assets**
Tangible fixed assets are stated at cost.
The Executive Committee consider that the financial freehold buildings are maintained in such a state of repair that their residual values are at least equal to their net book value. No depreciation has been charged as the lives of this building are considered to be so long and their residual values so high that there is no significant annual depreciation.
All fixed assets are initially recorded at cost and depreciated over their economic useful lives. The new Derasar is not depreciated, see impairment review in Fixed Asset Note.
## **Taxation**
Mahavir Foundation was recognised as a charity in May 1987. The Charity is not subject to taxation on its charitable activities.
## **Irrecoverable VAT**
The charity is not registered for VAT and its expenses are, therefore, inclusive of VAT which cannot be recovered.
**MAHAVIR FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS**
Page 14
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **2. VOLUNTARY INCOME**
|**Donations**
General Fund Collection
General (Sadharan) Donations
Gift Aid Tax - Recoverable
Membership Subscriptions
**Other Restricted Income**
Covid 19 and oher funds
Jivdaya Funds
Ladies Wings
Pathshala
Mahavir Mandal
Gyan fund and Sutra Donation
Paryushan Celebrations
Dev Drava
A
**3. INVESTMENT INCOME**
Rental Income & Bank interest
B
**TOTAL INCOME**
A + B
**4 . CHARITABLE EXPENDITURE**
Dev Devi Related
Derasar Depreciation
Various Function costs||**Unrestricted**
**Fund**
**£**
**123,961**
**62,191**
**32,000**
**17,010**|**Unrestricted**
**Fund**
**£**
**123,961**
**62,191**
**32,000**
**17,010**|**Restricted**
**Funds**
**£**
**0**
**-**
**6,806**
**1,389**
**3,931**
**1,731**
**9,553**
**73,124**
**127,543**|**Restricted**
**Funds**
**£**
**0**
**-**
**6,806**
**1,389**
**3,931**
**1,731**
**9,553**
**73,124**
**127,543**|**Total Funds**
**2022**
**£**
**123,961**
**62,191**
**32,000**
**17,010**
**-**
**6,806**
**1,389**
**3,931**
**1,731**
**9,553**
**73,124**
**127,543**|**Total Funds**
**2022**
**£**
**123,961**
**62,191**
**32,000**
**17,010**
**-**
**6,806**
**1,389**
**3,931**
**1,731**
**9,553**
**73,124**
**127,543**|**Total Funds**|**Total Funds**|
|---|---|---|---|---|---|---|---|---|---|
|||||||||**-**|**2021**
**£**
**37,838**
**53,943**
**49,000**
**1,574**
**2,027**
**4,890**
**368**
**275**
**2,675**
**1,306**
**31,663**
**47,042**|
||||**235,162**||**224,077**||**459,239**||**134,601**|
|||**Unrestricted**
**Fund**
**£**
**27,157**||**Restricted**
**Funds**
**£**
|||**2022**
**£**
**27,157**||**2021**
**£**
**18,329**|
|||**262,319**
**Unrestricted**
**Fund**
**£**
**164,147**||**224,077**
**Restricted**
**Funds**
**£**
**13,639**
**15,190**
**-**
||**486,396**
**Total Funds**
**2022**
**£**
**13,639**
**15,190**
**164,147**||**152,930**
**Total Funds**||
|||||||
||
|**2021**
£
10,877
**50,155**
**23,413**|
||||**164,147**||**28,829**||**192,976**||**84,445**|
No remuneration were paid to the charity trustees/company directors during the year 2021. (2020 – Nil)
**MAHAVIR FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS**
Page 15
## **FOR THE YEAR ENDED 31 DECEMBER 2021**
## 5. **GOVERNANCE COSTS**
|Salaries and Wages
Premises Costs
Audit & Accountancy fees
Legal & Professional fees
General Expenses
Donations
Bank Charges|
|**Unrestricted**
**Fund**
**£**
**26,776**
**13,883**
**1,950**
**-**
**5,663**
**11,252**
**1,835**|**Unrestricted**
**Fund**
**£**
**26,776**
**13,883**
**1,950**
**-**
**5,663**
**11,252**
**1,835**|**Restricted**
**Funds**
**£**
**15,031**|**Restricted**
**Funds**
**£**
**15,031**|**Total Funds**
**2022**
**£**
**26,776**
**28,913**
**1,950**
**-**
**5,663**
**11,252**
**1,835**|**Total Funds**
**2022**
**£**
**26,776**
**28,913**
**1,950**
**-**
**5,663**
**11,252**
**1,835**|**Total Funds**
**2021**
**£**
**16,959**
**8,998**
**1,950**
**1,950**
**1,483**
**3,507**
**1,228**|**Total Funds**
**2021**
**£**
**16,959**
**8,998**
**1,950**
**1,950**
**1,483**
**3,507**
**1,228**|
|---|---|---|---|---|---|---|---|---|---|
|||
||||||
||
||||**61,359**||**15,031**||**76,389**||**36,075**|
## 6. **NET INCOMING RESOURCES FOR THE YEAR**
This is stated after charging:
Auditors’ fees
|**2022**|**2021**|
|---|---|
|**£**|**£**|
|**1,950**|**1,950**|
## 7. **STAFF COSTS AND EMOLUMENTS**
**Total staff costs were as follows:**
Gross Salaries
|**2022**|**2021**|
|---|---|
|**£**|**£**|
|**26,776**|**16,959**|
|**26,776**|**16,959**|
## **Particulars of employees:**
The average number of employees during the year, calculated on the basis of full-time equivalents, was as follows:
||**2022**|**2021**|
|---|---|---|
|Number of part time Caretakers|**1**|**1**|
No employee received emoluments of more than £60,000 during the year (2021 – Nil).
## **Trustees:**
No remuneration were paid to the charity trustees/company directors during the year 2022. (2021 – Nil).
**MAHAVIR FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS**
Page 16
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## 8. **TANGIBLE FIXED ASSETS**
|**TANGIBLE FIXED ASSETS**||
|---|---|
|**COST**
At 1 January 2022
Additional during the year
Disposals during the year
**DEPRECIATION**
At 1 January 2022
Charge for 2022
At 31st December 2022
**NET BOOK VALUE**
At 31 December 2022
At 31 December 2021|**Leasehold**
**Property**
**Derasar**
**Project**
**Equipment**
**Total**
**£**
**£**
**£**
**£**
**484,010**
**1,822,957**
**17,542**
**2,324,509**
**-**
**-**
**4,498**
**4,498**
**-**
**-**
**-**
**-**|
||**484,010**
**1,822,957**
**22,040**
**2,329,007**|
||**471,024**
**10,718**
**481,742**
**12,986**
**2,204**
**15,190**|
||**484,010**
**-**
**12,922**
**496,932**|
||**0**
**1,822,957**
**9,118**
**1,832,075**|
||**12,986**
**1,231,932**
**6,824**
**1,251,742**|
## 9. **DEBTORS**
|**DEBTORS**||
|---|---|
|Gift Aid tax - recoverable till 2021
Gift Aid tax - recoverable 2022
Bank interest receivable
Other debtors|**2022**
**2021**
**£**
**£**
**55,441**
**55,438**
**32,000**
**-**
**6,318**
**10,936**
**1,531**
**-**|
||**95,290**
**66,374**|
**MAHAVIR FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS**
Page 17
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **10. CREDITORS**
|**CREDITORS**||
|---|---|
|Other Creditors|**2022**
**2021**
**£**
**£**
(3,127)
**-**|
||**(3,127)**
**-**|
## **11. RESTRICTED INCOME FUNDS**
|General
Jivadaya Fund
Ladies Wing
Pathshala
Covid and Other Fund
Gyan Fund
Mahila Mandal|**Balance at 1**
**Jan 2022**
**Incoming**
**resources**
**Outgoing**
**resources**
**Balance at**
**31 Dec 2022**
**£**
**£**
**£**
**£**
**505,427**
**200,667**
**25,593**
**680,501**
**1,689**
**6,806**
**250**
**8,245**
**13,089**
**1,389**
**471**
**14,007**
**8,554**
**3,931**
**1,094**
**11,391**
**2,027**
**-**
**2,027**
**1,306**
**9,553**
**10,859**
**2,455**
**1,731**
**2,569**
**1,617**|
|---|---|
||**534,547**
**224,077**
**29,977**
**728,647**|
## **12. UNRESTRICTED INCOME FUNDS**
||**Balance at 1**|**Incoming**|**Outgoing**|**Balance at**|
|---|---|---|---|---|
||**Jan 2021**|**resources**|**resources**|**31 Dec 2021**|
||**£**|**£**|**£**|**£**|
|General Fund|**1,700,041**|**262,318**|**239,387**|**1,722,971**|
**MAHAVIR FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS**
Page 18
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## 13. **ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|**Restricted Income Funds:**
557 & 555 Kenton Road
Cash
FFE
Jivadaya Fund
Ladies Wing
Mahila Mandal - Cash
**Restricted Fund - A**
**Unrestricted Funds:**
**614 & 616 Kenton Road**
**Cash at Bank**
**Debtors**
**Creditors**
**Funds Adjst.**
**Unrestricted Fund - B**
**Total Funds A + B**|**Tangible Fixed**
**Assets**
**Net Current**
**Assets**
**Total**
**£**
**£**
**£**
**732,532**
**732,532**
**-**
**9,118**
**9,118**
**-**
**-**
**-**|
|---|---|
||**741,650**
**-**
**741,650**|
||**1,090,425**
**1,090,425**
**527,382**
**527,382**
**95,290**
**95,290**
**-**
(3,127)
(3,127)
**-**
**-**
**-**|
||**1,090,425**
**619,545**
**1,709,969**|
|||
||**1,832,075**
**619,545**
**2,451,619**|
## 14. **RELATED PARTY TRANSACTIONS**
None of the members of Executive Committee that served during the year received any benefits, nor were they a party to any transactions that were entered into by the Charity.
## 15. **ACCOUNTS FORMAT**
Mahavir Foundation is both a company and a charity. The format of the financial statements has been altered from the prescribed format of the Companies Act 2006 to comply where practicable with Statement of Recommended Practice – Accounting by Charities, and thus reflecting the Charity’s activities and non-profit making nature.
## 16. **ULTIMATE CONTROLLING PARTY**
The company is controlled by its members.
**MAHAVIR FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS**
Page 19
**FOR THE YEAR ENDED 31 DECEMBER 2022**
**The following pages do not form part of the statutory financial statements which are the subject of the independent auditor’s report on pages 9 to 10.**
|**MAHAVIR FOUNDATION LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2022**
INCOMING RESOURCES-VOLUNTARY INCOME
Covid- 19 & other relief fund
General (Sadharan) Donation
Gift aid Claim w/off
Ayambil Donation
Dev-Devi Jaap Boli
Swamivatsalya
Gift Aid Tax Recoverable
Membership Subscriptions
UNRESTRICTED INCOME
A
Dev Dravya
Gift aid Claim w/off
Gyan and Sutra boli
Jivdarya Funds
Ladies Wing
Mahavir Mandal
Paryushan celebration
Patshala
RESTRICTED INCOME
B
INVESTMENT INCOME
Bank interest receivable on unrestricted funds
Rental Income
UNRESTRICTED INCOME
C
TOTAL INCOME
A+B+C
RESTRICTED INCOME
UNRESTRICTED INCOME
RESOURCES EXPENDED-
Derasar Depreciation
General Expenses Derasar
Jivdaya Expenses
Ladies wing
Mahavir Mandal
Pathshala
Derasar Maintenance
TOTAL RESTRICTED EXPENDITURE
X
Various Function Costs
Y
GOVERNANCE COSTS
Salaries and social security costs
Premises Costs
Audit fees
Legal & Professional fees
General expense
Donations
Bank Charges
TOTAL UNRESTRICTED EXPENDITURE
Z
TOTAL RESOURCES EXPENDED
X+Y+Z
NET INCOMING RESOURCES
(A+B+C) - (X+Y+Z)|**2022**
**£**
-
123,961
32,000
19,012
27,746
15,433
-
17,010
235,161
127,543
-
9,553
6,806
1,389
1,731
73,124
3,931
224,077
4,008
23,149
27,157
486,394
224,077
262,318
486,394
15,190
9,255
250
471
2,569
1,094
1,148
29,977
164,147
164,147
26,776
27,765
1,950
5,663
11,252
1,835
75,240
269,364
217,031|**Page 20**
**2021**
**£**
2,027
37,719
(24,500)
7,093
37,462
9,507
-
1,574|
|---|---|---|
|||68,855|
|||47,043
(24,500)
1,306
4,890
368
2,675
31,663
275|
|||65,747|
|||16,244
2,085|
|||18,329|
|||152,931|
|||65,747
87,184|
|||152,931|
|||50,155
4,630
5,509
236
412
90
4,499|
|||65,531|
|||23,413|
|||23,413|
|||16,959
4,499
1,950
1,950
1,482
3,507
1,228|
|||31,575|
|||120,519|
|||32,412|