CHARITY REG. NO. 500704 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 FOR SHREE SANATAN MANDIR & COMMUNITY CENTRE Page 1 SHREE SANATAN MANDIR & COMMUNITYCENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 CONTENTS Chairty information Trustees Report Independent Examinefs Report statement of Financial Activities Balance Sheet Notes to the a¢counts 9-14 Page 2 SHREE TANM Nrry Management Commltte• Prnsidont ic• Prosldent Anllkumar Chauhan Kamleshbhai V￿$ S•cr•t*ry Prabhavanti Pravin Pankhania Dipti Kavi Pravinbhai JagiNan Suryakantbhai Chauhan Blpin Parmar Treasurer Asststant Treasur•r Publlc Relatlons Olllcw Vandana Chavda Sandhya Moriaria Champak Chauhan Rajubhai Sdanki Ashokbhai Patsl Jaswantbhai Joshi Jayantrbhai Mistry Virendra Vaghela Holdlng Tn￿te•S Jlvanbhai C Patel Chairman Jashvantlal R Chauhan. OBE Secretsry Chandubhai Tank Vibhootiben Acharya Charlty Numbor 500704 Charity Offices 84 weym￿ Street Leic8stsr LE4 6FQ Indwndont Examiner K G Solanki & Co. Chartered Accountants Hamilton House 315 St Saviours Road Leicester LE5 4HG Bankors National Westrninst8r Bank plc Page 3 SHREE SANATAN MANDIR & COMMUNITY CENTRE REPORT OF THE T USTEES FOR HE YEAR ENDED 31ST DECEMBER 2024 The Trustees submrt their annual report and the independently examined financial statements for the yeai ended 31 st Dettmber 2024 The members have adopted the provisions of Statement of Recommended Practice ISORPI ' Accounting and Reporting by Charf(ies" preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2018) Reference and Administratlve Information Charity Name Shree Sanatan Mandir & Communty Centre Charity Number 500704 Address 84 Weymouth Street. Leicester, LE4 6FQ Independent examlner K G Solanki & Co.Chartereg Accountsrts.315 St Saviour5 Rcod,Leic8Ster,LE5 4HG Bankers National Westminster Bank plc, 2 Me￿On Road, Leicester, LE4 5NT TRUSTEES The Holding Trustees during the year under rewew were.. Jivanbhai C Patel Jashvantlal R Chauhan. OBE Chandubhai Tank Vibhootiben Acharya Chairman Secretary Structure a d Governance Governing Document The Charity is govemed by its ConstitLrtion as duly revised and dated 2nd April 2018. The legal ownership of the Charitys moveable and immovable property vests wtth the Holding Trustees and the the Managing Commrttee {designated as Managing Trustees) are responsible for the management of day-to-day matters. Recruitment and Appointment of Management Board The Trustees are elected every three years and the managing Committee are elected every two years at rts annual general meeting New Trustees and managing commrttee are elected from the memtsership of the charty with due consideration taken by members as to their suitaknlity before being elected. The Trustees are elected from members who have rendered three years service to the Temple. Trustee Induction and Training As all trustees must be members of the Chanty , they are all familiar with the practical work of the Gharity and of its objectives. Appropriate training is provided as required for their roles as Trustees and Managing committee members. Risk Management The Trustees and managing committee are aware of the risks to funding and review the srtuation at every Trusteeslcommittee meeting. Appropriate plans to deal wFth this are in place and are continually monrtored. Procedures are also in place to monitor the Health and Safety of all of the Chaiity's staff members and visitors to the temple and the Community Centre. The charity is open to the usual financial risks of any organtsation and the charity has introduced controls io minimise Znese nsks such as signatures being required for payment from the bank accounts. The treasurer provides monthly financial statements which are explained to the management committèe and are open for memberfs inspection after giving a reasonable written notice. Page 4 SHREE SANATAN MANDIR & COMMUNITY CENTRE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 Organisational Structure Shree Sanatan Mandir & Community Centre has a trust board comprising of elected 5 members, and management committee of 19 elected members who meet regularly and oversee the Charity's day to day running and are responsible for the strategic direction and policy of the Mandir and Community Centre. The Management Board work as a team wrth a scheme of delegation in place to ensure the charity delivers and maintains the services specified. The members of executive members (consisting of 7 Board members) oversee the day to day running of the Mandirlcharity and maintain internal controls of the charrty. The Charrty and carries out spot checks on timely basis to ensure the compliance with the Controls. Objectives and Activities The objects of the Charity are to promote Hindu religion and cutture in the city of Leicester. These objects are achieved by providing a place of worship . conducting religious services. celebrating religious festivals and providing Educational, Cultural and Social Adivities for the Community It also provides educational visits to schools, university students, teachers, poliGe etc for better understanding of Hindu faith and how it works cohesively wtth other faiths. Resources are also employed to promote language, literature and music instructions and discussions are also conducted regularly on religious principles. Funds are collected throu9h voluntary donations to finance Charity's activrties as well as from the hiring of the hall facilities for feligious functions and weddings. The Mandir also provides day care services with meals for elderly and disabled persons. Achievements and Performance The trustees are grateful to the Management Commrttee and other volunteers who again this year are involved in se￿iCe provision, charity events and fund raising. It has not been possible to quantify the volunteer hours provided in the year. Financial Review The Statement of Financial Activities shows net surplus in Income for the year of £23.266 { 2023 DefiGit £96,516) and restricted and unrestricted resetves stand at £3.707,761 in total. Due to reduction In support from Local authortties Shree Sanatan ma￿a￿a Day Care Services has shown a deficit fo the year of £4,56812023 Deficil £96,517). The trustees have agreed this year to transfer Nil12023 £Nil } to a designated building maintenance reserve for future commitments Details of movements in Fixed Assets are set out in note 14 to the Accounts The Freehold land and buildings are not valued at a materi311y different sum from that sum shown in the accounts and no depreciation is provided on them since the market value which has not been quantified far exceeds the book value. Principal Funding Sources The charity's sources of income arise from the donations from the devotees attending the temple for various religious functions and festivals as well as from the hiring of the community centre and temple facilities. The temple provides day care services with meals for elderty and disabled persons for which they receive contributions from the social servi¢es and the service users. Investment Policy Th¢ trustoes have put surplus rnoney on interest bearina deposit accounts. which they intend to continue in the foreseeable fLrture. Page 5 SHREE SANATAN ANDIR & COMMUNITY CENTRE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 Reserves Policy It is the policy of the charity to maintain unrestrided funds, which are the free reserves of the charrty at a level which is required to meet rts objectives ot approximately six months unrestricted expenditure. This provides sufficient funds to cover management and administrative costs for the charity. The Board reviews this petiC#Yically. Plans for future periods The charity plans continuing the activities OLrtlined above in the ensuing Yea￿ subject to obtaining satEfactory funding arrangements Responsibilities of Managemenl Board STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees are required under the Charities Act 2011 to prepare financial statements for each financial year which give a true and fair view of the financial activities of the charity and of its financial F)OSition at the end of that year. In preparing those financial statements, the trustees are required to - select surtable accounting policies and then apply them consistently," make Judgements and estimates that are reasonable and prudent" - state whether applicable accounting standards statements of recommended practice have been followed. subject to any departures disclosed and explained in the financial statements.. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for maintaining proper accounting records which dI￿105e with reasonable accuracy at any time the financial p)sttion of the charity and which are suffi¢ient to show and explain the charty's transactions arKI to enable them to ensure that the financial statements comply th applicable law and regulations under the Chartties Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are also resF)onsible for the contents of the trustees, report and the responsibilty of the independent examiners in relation to the trustees. report is limrted to examining Ihe report and ensuring that. on the face of the report, there are no inconsistencies with the r￿jureS disclosed in the financial statements. Independent Examlner A resolution proposing that K G Solankn & Co Chartered accountants be re-appointed as independent examiners of the charrty will be put to the Annual General Meeting Approval This report was approved by the Trust board on IP May 2025 and signed on rts behalf . Jashvantlal R Chau Trustee Page 6 SHREE SANATAN MANDIR & COMMUNITY CENTRE INDEPENDENT EXAMINERS. REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 I report on the ac¢ounts of Shree Sanatan Mandir & Communty Centre for the year ended 31st December 2024 . which are set out on pages 7 to 14. Respective responsibilities of trustees and examinef 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 lunder sedion 144{21 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The Charity's gross income did not exceed £1,000,000 and l am qualified to undertake the examination by being a qualified member of Institute of Chartered Accountants in England and Wales. Having been satisfied that the charity is not subject to audit and is eligible for Independent examination It is my responsibility to examine the accounts under section 145 of the 2011 Act. to follow the procedures laid down in the General Directions given by the Charity Commission under section 145{5llbl of the 2011 Act., and to state whether particular matters have come to my attention. Basis of independent examiner's Teport My examination was carried out in accordance with the 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 you astrustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audrt, and consequently, no opinion is given as to whether the accounts present a 'lrue 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.. 111 which gives me reasonable cause to believe that. in any material respect, the requirements . to keep accounting records in accordan￿ with section 130 of the 2011 Act., and to prepare accounts which accord with the accounting records and to ¢omply with the accounting requirernents of the 2011 Act have not been met,. or {21 to which , in my opinion , attention should be drawn in order to enable a proper understanding of the accounts be reached. K G SOLANKI, A.C.A. K G SOLANKI & CO. Chartered Accountant 315 St. Saviours Road, LEICESTER 18th May 2025 Page 7 REE SANATAN MANDIR & COMMUNITY CENTRE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024 Notes De￿gnated UnreStr￿d Unrestrict& Total INCOME AND ENDOWMENTS FROM 2024 2023 Donations and legacies Grants recerved Charrtable activities Fund raising ventures Income from investments other incoming Resources 202,208 1,500 4,607 183,979 2,394 55,869 202,208 1,500 4,607 183.979 2.394 55,869 139,072 2,864 2.551 125.460 2,601 66,946 Total income 450.557 450.557 339,494 EXPENDITURE ON Direct charitable expenditure 8-10 164,882 164,882 163,962 Governance costs 11 4,587 4.587 10,016 other ExFenditure 11-12 257,822 257.822 262,033 Total expenditure 427,291 427,291 436,011 NET Tr￿VEMENT IN FUNDS FOR THE YEAR 23,266 23,266 96,517 23,266 23,266 {96,5171 TOTAL FUNDS BROUGHT FORWARD TRANSFER TO MINIBUS REPLACEMENT RESERVE TFiAJ4SFER TO PROPERTr MAINTENANCE RESERVE 124,400 3.535.095 3,659.495 3.756.011 TOTAL FUNDS CARRIED FORWARD 124,400 3,558,361 3,682,761 3.659,494 The notes on pages 9 to 14 form part of these accounts Page 8 SHREE SANATAN MANDIR & COMMUNITY CENTR BALANCE SHEET AT 31ST DECEMBER 2024 2024 2023 FIXED ASSETS Tangible Fixed Assets - Unrestrided NOTES 14 3,321.799 3,323,545 CURRENT ASSETS Debtors & prepayments Cash at bank and in hand 15 16 1,250 391.984 1,250 386,757 393,234 388,007 Creditors: amounts falling due within one year 17 7,272 27,057 7,272 27,057 360,950 3,684,495 NET CURRENT ASSETS TOTAL ASSETS 385,962 3,707,761 Represented by: CAPITAL Restricted funds Designated Unrestricted funds Unrestricted funds 18 19 19 25,000 25,000 124,400 3,535,095 124.400 3,558,361 3,682.761 3,707,761 3,684,495 These financial statements ￿Te approved by the Managing Committee and adopted at the General Moetlng held on May 2025 and signed on its behalf by: President Treasurer Anilkumar Chauhan Pravinbhai J an . Secretary Prabhavantr Pravin Pankhania The notes on pages 9 to 14 form part of these accounts Page 9 HREE SANATAN MANDIR & COMMUNITh CENTR NOTES TO ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 1. ACCOUNTING POLICIES The Principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year. (a) Basis of accountlng The accounts have been prepared on a going concern basis. under the historical cost wnvention . The financial statements of the charFty . which is a public benefrt entty under FRS 102, have been prepared in accordance with the Charties SORP{FRS 102}'Accounting and Reporting by Charrties '. Statement of Recommended Practice applicable to charities preparing their a¢counts in accordance with The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 20181, Financial Reportin9 Standard applicable in the UK and Republic of Ireland and the Charities Act 2011. Ib) Fund accounting Unrestricted funds are available for use at the discretion of the Management Committee in furtherance of the general objectives of the charrty t)esignated funds are unrestricted funds eamarked by the Management Committee for particular purposes. During the year ended 31st December 2024 there were designated furKls of £124,400 (2023 £ 124,400) Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the tems of an appeal. (c) Income All income is recognised in the Statement of Financial Activtties once the charity has entitlement to the funds and the amount can be quantified with reasonable accuracy. The following specific policies in particular are applied to categories of income. 111 Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Actrvities when receivable . Grants where entitlement is not Conditional on delivery of a specific performance by the charrty . are re¢ognised when the chartty becomes uncoThJrtionally entrtled to the grant. (21 The value of services provided by volunteers has not been included in these accounts 13) Investment income is included when receivable. (41 Incoming resources from grants, where related to performance and specific deliverables. are accounted for as the charty earns the right to consideration by ils performance. (dl EXPENDITURE 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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expendff(ure is aGGounted for on an accruals basis and has been Classified under heading that aggregate all cost related to the category When costs cannot be directly attributed to particular headings they have been allocated to acttvrties on a basis consislent wrth the use of resources. Expendtture includes attributable VAT which cannot be recovered. 11 } Costs of generating funds comprise the cc6t associated wth attracting voluntary income and the costs of trading for fund-raising purposes. Page 10 SHR E SANATAN MANDIR & COMMUNITY CENTRE NOTES TO ACCOUNTS FOR THE YEAR END D 31ST DECEMBER 2024 (21 Charitable expenditure comprises those Costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes toth costs that can be allocated directly to such activikn'es and those costs of an indirect nature to SUPFQrt them 13) Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include professional fees and costs linked to strategic management of the Charity {4} All costs allocated be￿een expenditure categories of the Statement of Finan¢ial Activities are on a basis designed to reflect the use of the resource. Costs relating to particular activity are allocated diredly , others are apF