REGISTERED CHARITY NUMBER: 502515 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 FOR SHREE GUJARATI HINDU SATSANG MANDAL
SHREE GUJARATI HINDU SATSANG MANDAL CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 Page Report of the Trustees Independent Examiner's Report ststement of Financial Activities Balanee Sheet 9 to 10 Notes lo the Flnancial Stalements 11 to 17 Detailed Statement of Financial A¢tivitie5 18 to 19
SHREE GUJARATI HtNDU SATSANG MANDAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 The trustees present their report with the financial statements of the charity for the year endcd 31 st December 2023. The trustees have adopted the provisions of Accounting and Reporting by Chaiitie5.' 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 (FRS 102) (eff¢ctiv¢ l January 20 I9). OBJECTIVES AND ACTIVITIES Objectives 2nd aims The constitIOnal objectives ielate to the Hindu religion and the Gujarati community in Coventy and surrounding districts. The objectives are to Promote the religion, maintain a place of worship, provide religious services and language classes and encourage the religious, cultural and intellectual advancement of persons of the Hindu faith. The management committee and the holding trustees have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance given on charities and the advancement of religion. The work of the temple gives rise to public benefit by enabling ordinary people to live out their Hindu faith as part of the community through: A) The maintenance of a place of Hindu worship with the services of a priest who is tasked to serve the deities and meet the spiritual and religious needs of devotees. B) The provision of resources for the teaching of the Hindu scriptures and developing theiT Hindu faith. C) The provision of pastoral care lor the congregation and local people. Volunteers The Charity required approximately 15,000 hours of volunteevs efforts in the yeaT to cany out its obligations particularly in the areas of maintenance, preparation and management of festivals, events, catering and administration. It is difficult to attribute an economic value to this contribution that the volunteers make of their time but il is crucial to the basic function of the Charity. The committee ensures that best value is derived from the efforts of the volunteers. Page I
SHREE GUJARATI HINDU SATSANG MANDAL REPORT OF THF TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 ACHIEVEMENT AND PERFORMANCE Charitable activities Promote th¢ Hindu Reli ion The organisation planned, promoted and provided Hindu religious services and activities to celebrate a range of festivals and other cultLwal events appropriate for the Gujarati community in Coventy. Maintain lace of Worshi The organisation monitored, managed and maintained the Temple and its complex of community buildings at Harnall Lane West. The age of the building results in the building requiring. regulaT attention. greater involvement of profrssional help. developtnent of projects with fimd raising aspects. greater consideration of health and safety issues. Provide Reli ous Services The organisation provided.. three r¢ligious services per day throughout the year, provided Hindu and registry wedding services, organised monthly activities Suitable for Hindu young people, facilitatcd and welcomed school and other organisational visits. Such visits have been limited due to building work being Caled out but will continue once work is complete. Provide lan la55es The organisation supported its Gujarati school, (operated in house). The school provides lessons to learn the Gujarali language. Students are taught to understand better their cultural traditions, background and customs of the community. Lessons are held on Friday evening under the supervision of teachers. Such lessons continue to be limited due to building work being carried out. Encourd e th¢ reli ous cultural and intellectual advancement of sons of the Hindu faith All major religious festivals are celebrated. the Temple priest offers brief commentary on Hindu aspects weekly and at times of festivals. The Temple hosts Spirial speakers and guides. Devotional Grou The charity extend their support and work togeth¢r with the Bhajan Mandal and Mela Mandal devotional, spirittml and religious groups which continue to meet regularly to promote faith and culture. Charitable activities The policy of arranging for local schools to organise visits to the Temple has continued (subject to building WO being carried out) and the Temple making small donations of gifts andlor support of good causes has continued. We are, therefore, happy to report that we have achieved our objectives this year. We can confimi that the activities of the Charity provide a public benefit to those who worship at our Temple and the local community. The primary me&8ure of success or failure of these activities is the number of people making use of the Temple and the services it provides. We have seen some in¢re&se in the numb¢r of people attending the Temple. The number of people making use of the sports hall has not Significantly changed. Issue5 outstandin from last ear5 re A) Temple refurbishment: Continue the execution of the nine-stsge plan subject to fees. B) Religious and Social Activities.. Page 2
SHREE GUJARATI HINDU SATSANG MANDAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 The charity must continue to plan, host and arrange new or improved religious and social events in order to generate irnproved levels of income to the general fund. Those tsnds can then be applied to the refurbishment work when necessary. C) Identify and recruit a longer tern] executive conunittee enabling long terni plan5 to be initiated and followed through. Other matters arisin durin the A): Temple Refurbislllnent.. The building extension and refurbishment program continued and the work is in the late stages of the niT]e-stage plan. The program was held up this year when issues with the work in the kitchen were identified and required investigyation. B) Religious and Social Activities.. In this year the temple continued to engage in planning, hosting and arranging improved religiou5 and Social events and generafr improved levels of income to the general fund as more people attended the t¢rnple. In particular some cultural drama presentations were nde. C) Progress was made in recrniting a longer terni executive committee. D} The new committee that acted from 21 May 2023 experienced significant challenges in the day to day numiT]g of the charitys financials from previous trustees and inherited a very limited cash flow. For th¢ future the following issues need to be addressed: A) Templ¢ refurbislunent.. Continue the execution of the nine-stage plan subject to fees. B) Religious and Social Activitie5'. The charity must continue to plan. host and awdnge new or improved religious and social events in order to generate improved levels of income to th¢ general fund. Those fimds can then be applied to the refurbishment work when llecessary. C) Continue to identify and recruit a longeT tenn executive committee members and develop longer terni planning. FINANCIAL REVIEW Reserves policy Over and above the Restricted Funds, it is the policy of the Charity to maintain unrestricted reserves not committed or invested in tangible assets, which are the free reserve5 of the Charity, at a level, which equates to approximately three years unrestricted expendiNre. This should provide sufficient funds to cover operational Costs of the current activities of the Charlty in the event of a significant decline in donations income. The period would then give sufficient time to consider how the funding would be replaced or the activities changed. In addition, the unrestricted reserves also need to be available to fimd future work anticipated on the Temple and any other planned capital expenditure should the Charity be required to do so within a short tinlescale. The target levels for free reserves have therefore not been achicved. For the foreseeable future, net incoming resources will be accumulated, subject to the capital expenditure planned. until the target levels are achieved. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Charity was established in 1973 and 15 governed under the rules laid down in its Constitution of1973 as amended on 24th November l991, 17th April 1994, 5th July 2012, 12th June 2016 and 23rd November 2019. Page 3
SHREE GUJARATI HINDU SATSANG MANDAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure Charity and Holding Trustees of SGHSM are elected by members using a democratic electoral system and serve a terni of two and four years respectively. New trustees do not receive fornial training but are guided in their duties by the existing tntees. The Executive Committee (Charity Trustees) of SGHSM meet fortnightly (and ad hoc when required) to consider the proper running of the Trust and its activities. There are time limited sub-committees which deal with specific issues and matters as directed by the Executive Committee. Those sub-groups report to the Executive Committee, which then considers their recommendations. The Holding Trustees of SGHSM are responsible and entrusted by the membership to be the signatories and keep safe custody of the Deeds of the freehold land of the Trust as its fixed asset. They meet the officers of the Charity for regular briefings and when n¢c¢ssary m¢et the Executive Committee by invitation. REFERENCE AND ADMINISTRATIVE DETAII Registered Charity number 502515 Principal address Harnall Lane West Coventry CVI 4EZ Page 4
SHREE GUJARATI HINDU SATSANG MANDAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 Truslees President Hitesh Mehta (appointed 21.05.2023) Ranchhod Chauhan (resigned 21.05.2023) Vice President Rajesh Parekh (appointed 21.05.2023) Arjunsinh Kosambia (resigned 21.05.2023) Secretary Hitesh Mehta (resigned 21.05.2023) Nalin Pankhania (appointed 21.05.2023, resigned 02.04.2024) Assistant Secretary Shailesh Patel (appointed 21.05.2023) Alpa Charan {appointed 21.05.2023) Va5anti Chauhan (resigned 21.05.2023) Acting Treasurer Ashwin Rathod(appointed 21.05.2023) Indravadan Damania (resigned 21.05.2023) Asha Chauhan (appoint¢d 21.05.2023, resigned 29.10.2023) 2nd Assistant Treasurer Kantilal Patel (resigned 21.05.2023) Jaswant Chauhan (appointed 21.05.2023, resIed 07,06,2023) Management Committee Metnbers Jasmine Chauhan (appointed 21.05.2023) Gita Patel (appointed 21.05.2023) Ashok Bhatti Dhananjay Soni (appointed 21.05,2023} Hitash Patel (appointed 21.05.2023) Va5anti Chauhan (appointed 21.05.2023) Harish Dhokia (appointed 21.05.2023) Ramanbhai Misty (resigned 21.05.2023) Dahyabhai Patel (resigned 21.05.2023) Amratlal Prajapati (resigned 21.05.2023) Navnitbhai Pafyl (resigned 21.05.2023) Dinesh Bhatti (resigned 21.05.2023) Alka Gandhi (resigned 21.05.2023) Dhirajlal Bhimji Ghedia (resigned 21.05.2023) Mohanlal Karasan Vegad (resigned 21.05.2023) Satya Bhavnagri (appointed 21.05.2023, resigned 14.07.2023) Holding TnteeS unsingh Kosambia (appoint¢d 21.05.2023) Chandrakant Patel (appotnted 21.05.2023) Raman Mistry (appointed 21.05.2023) Kumud Rav (appointed 21.05.2023) Indravadan Damania (appointed 21.05.2023) Jaswantbhai Chauhan (resigned 21.05.2023) Satyavan Kotecha (resigned 21.05.2023) Harish Dhokia (resigned 21.05.2023) Ranju Popat (resigned 21.05.2023) Bankers Lloyds TSB Bank PIC 30 High Street Coventy West Midlands CVI 5RA Page 5
SHREE GUJARATI HINDU SATSANG MANDAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 Approved by order of the board of trustees on 25th October 2024 and signed on its behalf by., Tte¢ Page 6
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHREE GUJARATI HINDU SATSANG MANDAL Independent examiner's report to the trustees of Shree Gujarati Hindu Satsang Mandal I report to the charity trnstees on my examination of the accounts of Shree Gujarati Hindu Satsang Mandal (the Trnst) for the year ended 31 st December 2023. Responsibilities and basis of report As th¢ charity trustees of the Trust you arc responsible for the preparation of the accounts in accordance with the r¢quirem¢nts of the Charities Art 2011 ('the Act,). I report in respect of my examination of the Trust's accounts caTried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5){b) of the Act. Independent examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirni that l am qualified to undertake the examination because l am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confm that no material matters have come to my attention in connection with the exInatIon giving me cause to believe that in any mafrrial respect: accounting records were not kept in respect of the Trust as required by Section 130 of the Act. or the accounts do not accord with those records. or the accounts do not comply with th¢ applicable requirements concerning the forn and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 oth¢r than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come acros5 no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. R Pau & Co Limited I Patani Associates Limitrd PATANI & CO. 25th October 2024 covEKrRY CV6 6FG TellFax: 024 7C08 4443 AND RKGISTERED AUDITORS 12-16 Station Street Ea51 Coventry CV6 5FJ Tel.. 024 7666 2955 Fax.. 024 7658 1787 Web.. www.rpau.co.uk Email: info@rpau.co.uk Page 7
SHREE GUJARATI HINDU SATSANG MANDAL STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted fund Restricted funds Not¢s INCOME AND ENDOWMENTS FROM Donations and legacies 255,810 303 256,113 247,839 Other activities Investment income 35,033 2.021 35.033 2,021 49,754 443 Total 292,864 303 293,167 298,036 EXPENDITURE ON Raising ndS 119,984 119,984 103,799 Other 44,511 44,511 31,676 Total 164,495 164,495 135,475 Net gainsl(losses) on investments (13,186) NET INCOME 128,369 303 128,672 149,375 RECONCILIATION OF FUNDS Total funds brought fonward 1,409,420 128,014 1,537,434 1,388,059 TOTAL FUNDS CARRIED FORWARD 1,537,789 128,317 1,666,106 1,537,434 The notes forni part of these financial statements Page 8
SHREE GUJARATI HINDU SATSANG MANDAL BALANCE SHEET 31ST DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted fund Restricted nds Notes FIXED ASSETS Tangible assets 1,460,105 1,460,105 1,223,897 CURRENT ASSETS Debiors Cash at bank and in hand 38,762 45,837 38,762 174,154 51,366 264,204 128,317 84,599 128,317 212,916 315,570 CREDITORS Amounts falling due within on¢ year 10 (6,915) {6,915) (2,033) NET CURRENT ASSETS 77,684 128,317 206,001 313,537 TOTAL ASSETS LESS CURRENT LIABILITIES 1,537,789 128,317 1,666,106 1,537,434 NET ASSETS 1,537,789 128,317 1,666,106 ,537,434 The notes fonn part of these fllmncial statements Page 9 continued..
SHREE CUJARATK HINDU SATSANG MANDAL BALANCE SHEET- continued 31ST DECEMBER 2023 FUNDS Unrestricted funds Restricted ndS.. Property Maintenance fimd Raj Bhog fund Shiv Abhishek fvnd 1,537,789 1,409,420 76,201 36,966 15,150 76,201 36,966 14,847 128,317 128,014 TOTAL FUNDS 1,666,106 1,537,434 The financial statements were appToved by the Board of Trustees and authorised for issue on 25th October 2024 and were signed on its behalf by.. Trustee Trustee Trustee The notes forni part of these fmancial statements Page 10
SHREE GUJARATI HINDU SATSANG MANDAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 ACCOUNTING POLICIES Basis of preparing the financial statements The fancIal statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of R¢commended Prnctice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Keporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. Donation and legacies All Incoming resources are included OTh the Statement of Financial Activities when the Charity is legally entitled to the income and the amount can be quatified with reasonable accuracy. Expenditure Liabilities are recognised as expendittwe as soon as there is a legal or constructive obligation committing the harity 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. Expenditur¢ is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocatsd to activities on a basis consistent with the use of resources. Tangible fixed assets Tangible fixed assets are stated at historical cost less a¢¢umulat¢d depreciation. Depreciation is provided at the followlng annual rates in order to write off asset over its estimated useful life. Freehold land and buildings Lift Fixtures and fittings Deities and jewellery 2% oncosl 200/0 on reducing balance I 00/0 on reducing balance no depreciation Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with th¢ Charitable objectives at the discretion of the tntees. Restricted funds can only be used for particular restrtcted purposes within the objects of the charity. Restrictions arise when specified by the donor or when fids are raised for particular restricted pOSe$. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Pension costs and other post-retirem¢nt benefits The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Debtors and creditors receivable I payable within one year Debtors and creditors wilh no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are reCOlsed in the profit and loss account ID other administrative expenses. Pagell continued...
SHREE GUJARATI HINDU SATSANG MANDAL NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023 OTHER ACTIVITIES 2023 2022 Hall hire Religious and social activities 7,019 28,014 8,576 41,178 35,033 49,754 INVESTMENT INCOME 2023 2022 Deposit account interest 2,021 443 RAISING FUNDS Raising donations and legacies 2023 2022 Staff costs Rates, wafrr and insurance Ligbt and heat Telepbone Printing and stationery Sundries Donations Reli(yious and social activities Repairs and maintenance Cleaning and security Groceries 34,967 4,632 11,373 679 656 1,732 14.160 22,722 6,192 13,320 9,551 43,736 5.745 8,071 538 770 1,496 6.265 13,373 4,913 17,967 925 119,984 103,799 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 3 1st December 2023 nor for the year ended 315t December 2022. Trustees, expenses There wer¢ no tru5tees' expenses paid for the year ended 31st December 2023 nor for the year ended 3 1st December 2022. Page 12 continued.-.
SHREE GUJARATI HINDU SATSANG MANDAL NOTES TO THE FINANCIAL STATEMENTS- eontinued FOR THE YEAR ENDED 31ST DECEMBER 2023 STAFF COSTS The average monthly number of employees during the year was as follows: 2023 2022 Priests No employees received emoluments in excess of £60,000. There are no high paid staff. COMPAIL4TIVES FOR THE STATEM ENT OF FINANCIAL ACTIVITIES Unreslrictcd fund Restricted fLLnds Total funds INCOME AND ENDOWMEIYTS FROM Donations and legacies 247,536 303 247,839 Other activities Investment income 49,754 443 49,754 443 Totsl 297,733 303 298,036 EXPENDITURE ON Raising funds 103,799 103,799 Other 31,676 31.676 Total 135,475 135,475 Net gains/{losses) on inveslments (13,186) (L3,186) NET tNCOME 149,072 303 149,375 RECONCILIATION OF FUNDS Total fvnds brought fonvard 1,260,348 127,711 1,388,059 TOTAL FUNDS CARRIED FORWARD 1,409,420 128,014 1,537,434 Page 13 continued...
SHREE GUJARATI HINDU SATSANG MANDAL NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023 TANGIBLE FIXED ASSETS Freehold land and buildings Fixtures and fittings Lift COST OR VALUATION At 1st January 2023 Additions Disposals 1,386,517 253,793 66,345 118,547 At 31 st December 2023 1,640,310 66,345 118,547 DEPRECIATION At 1st January 2023 Charge for year 266.723 31,886 64,478 373 87,909 3,064 At 3 1st December 2023 298,609 64,851 90,973 NET BOOK VALUE At 31 st De¢¢mber 2023 1.341,701 1,494 27,574 At 31 st Decernber 2022 1,119,794 1,867 30,638 Deities Jewellery Tolals COST OR VALUATION At 1st January 2023 Additions Disposals 63,747 21,117 7,852 1,643,008 274,910 (3,380) (3.380) At 3 1st December 2023 84,864 4.472 1,914,538 DEPRECIATION At 1st January 2023 Charge for year 419,110 35,323 At 3 1st December 2023 454,433 NET BOOK VALUE At 3 1st December 2023 84,864 4.472 1,460,105 At 3 1st December 2022 63,747 7,852 1,223,898 Cost or valuation at 3 1st Dec¢mber 2023 is represented by: Freehold land and buildings Fixtures Lift fittings Cost 1,640,310 66,345 118,547 Page 14 continued...
SHREE GUJARATI HINDU SATSANG MANDAL NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023 TANGIBLE FIXED ASSETS - continued Deities Jewellery Totals Cost 84,864 4,472 1,914,538 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Other debtors Gift aid receivable Prepayments loo 37,535 1,127 50,187 1,179 38,762 51,366 io. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade credÉtors PAYE and national insurance Other creditors 1,209 824 1,924 4,991 6,915 2,033 ii. MOVEMENT IN FUNDS Net movement in fvnds At 31112123 At 111123 Unrestricted funds General nd 1,409,420 128,369 1,537,789 Restricted fund5 Property Mainfrnance flmd Raj Bhog fund Shiv Abhishek fund 76,201 36.966 14.847 76,201 36,966 15,150 303 128,014 303 128,317 TOTAL FUNDS 1,537,434 128,672 1,666,106 Page 15 continued...
SHREE GUJARATI HINDU SATSANG MAIYDAL NOTES TO THE FINANCIAL STATEMENTS - eontinued FOR THE YEAR ENDED 31ST DECEMBER 2023 11. MOVEMENT IN FUNDS - Continued Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement tn ndS Unrestrieted funds General fund 292,864 (164,495) 128,369 Restricted fund5 Shiv Abhishek fund 303 303 TOTAL FUNDS 293,167 (164.495) 128,672 Comparatives for movement in funds Net movement in fvnds At 31112122 At 111122 Unrestricted funds General fund 1,260,348 149,072 1,409,420 Restricted funds Property Maintenance fund Raj Bhog fund Shiv Abhishek fund 76,201 36,966 14,544 76.201 36,966 14,847 303 127,711 303 128,014 TOTAL FUNDS 1,388,059 149,375 1,537,434 Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and 105ses Movement ill funds Unrestricted funds General fund 297,733 (135,475) (13,186) 149,072 Restricted funds Shiv Abhishek fund 303 303 TOTAL FUNDS 298,036 (135,475) (13,186) 149,375 Pag¢ 16 contlnued...
SHREE GUJARATI HINDU SATSANG MANDAL NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST DECEMBER 2023 MOVEMENT IN FUNDS- continued Property Maintenanc¢ The property maintenance fid represents funds set aside to provide for repalrs, maintenance and refuybishment of the Charity's premises. This was established in 1992. The fund received 366 donation5 of £10 l each from individual members of the congregation. Interest received from this fund is deposited into the Qu¢nt account and only be applied to the purchase of food offerings made daily. This was established in 2010. The fund receives donations of £1 O l from individual members of the congregation. The interest earned from this flmd is applied to the purchase of mill( offerings to Lord Shiva. As at 31 st December 2023 the fund had 150 donations of £101 each (31 st December 2022 147 donations of £10 l each). Raj Bhog Shiv Abhishek 12. RELATED PARTY DISCLOSURES There were no related party transartions for th¢ year ended 3 1st December 2023. 13. BUILDING IMPROVEMENT FUND The cash at bank and in hand unrestricted fimd balance of £45.837 irtcludes the separate bank account, (balance at 31.12.2023 of £10,100). used to control all spending on the new building project. All monies used for spending on the new building project are paid into this bank account so that all expenditure on the new building project is made from this dedicated bank account for better control. Ther¢ ar¢ three main sources of payments into that account, donations specifically for the new building project. external funding and the general fund. 2019 2020 2021 2022 2023 Opening balance Net receipts from internal funds Gift aid allocated to this fund Donations received Building project expenses Bank charges 145.578 140,870 50,000 38,437 89,647 116.156 258,289 20,517 26,575 15,554 41,572 67,407 153,979 100,335 (42,751) (401,236) (268,399) (21) {77) (82) 94,257 138,767 (98,965) (291,196) (4) Closing balance £140,870 £38,437 £89,647 £116,156 £io,ioo Page 17
SHREE GUJARATI HINDU SATSANG MANDAL DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted funds Restricted funds INCOME AND ENDOWMENTS Donations and legaeies Donations Sundry income Gift aid receivable 211,765 6,510 37,535 303 212,068 6,510 37,535 197,652 50,187 255,810 303 256,113 247,839 Other activities Hall hire Religious and social activities 7,019 28.014 7,019 28,014 8,576 41,178 35,033 35,033 49,754 Investment income Deposit account interest 2,021 2,021 443 Total incoming resources 292,864 303 293.167 298.036 EXPENDITURE Raising donations and legacies Gross salaries and national insurance Pensions Rates, water and insurance Light and heat Telephone Printing and stationery Sundries Donations Religious and social activities Repairs and maintenance Cleaning and security Groceries 34,198 769 4,632 11,373 679 656 1,732 14,160 22.722 6,192 13.320 9,551 34,198 769 4,632 11,373 679 656 1,732 14,160 22,722 6.192 13,320 9,551 42.975 761 5.745 8,071 538 770 1,496 6,265 13,373 4.913 17,967 925 119.984 119,984 103,799 Other Depreciation of tangible fixed assets Loss on sale of tangible fixed assets Bank interest and charges 35,323 3.380 917 35,323 3,380 917 30,682 994 39,620 39,620 31,676 This page does not forni part of the statutory financial statements Page 18
SHREE GUJARATI HINDU SATSANG MANDAL DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted nds Restri¢ted fun(ts Support costs Governance costs Professional fees 4,891 4,891 Total resources expended 164,495 164,495 135,475 Net Income before gains and losses 128,369 303 128,672 162,561 Realised reeognised gains and losses R¢valuation of fixed assets (13,186) Net ineome 128,369 303 128,672 149,375 This page does not forni part of the statutory financial statements Page 19