Charity number: 505959 The Gujarat Hindu Society, Preston Trustees, Report and Financial Statements For The Year Ended 31 March 2022 rnha MOORE & SMALLEY
THE GUJARAT HINDU SOCIETY, PRESTON CONTENTS RefenCe and admnislrative details of the charity, ils trustses and advisers Trustees, report Independent examiner's report Slalement of financial activities Balance sheet 10 statement of cash flows Notes to the financial stalefflenls 12
THE GUJARAT HINDU SOCIETY, PRESTON REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022 Trustees ID Tailor MBE JP DL, President IAppointed 12191211 D H Nayee, Vice President (Appointed 1219121 } C H Limba¢hia, Secretary lappoinled 12191211 A M Jariwala, Assistant Secretary (Appointed 12191211 B Panchal, Treasurer N Parmar. Assistant Treasurer A Limbachia, Committee Member M Marolia. Committee Member B Maru, Committ88 Member K Parekh Committee Member KC Parekh (Appolnted 1219121. Retired 51121211 D Patel Committee member U Solanki, Committee Member R Valand, Committee Member K Parekh A Patel Holding Trustee Holding Trustee Charity registered numbar 505959 Prlnelpal office South Meadow Lane Preston PR1 8JN Indop•ndent audltors MHA Moore and Smalley Richard House Winckley Squ8r& PT88to PR1 3HP HSBC PIC 40 Fishergate Preston PR12DP Bankers Soll¢ltor$ Harrison Drury la Chapel Street Winckley Square Preston PR1 88U
THE GUJARAT HINDU SOCIETY, PRESTON TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 The Trustees present their annual report together the audited financial statements for the year ended 31 March 2022. The financial statements have been prepared in a¢¢ordan¢e with th$ accounting policies sel out in notes lo th8 aounts and Comply with the charit$ governing document, the Charities Act 2011 and Accounting and Reporting by Charities= Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published In October 2019. Objectives and Activities a. Policies and objectives In setting oble¢live$ and planning for aclivilies, th8 Trustses have given due consideration to general guidance publishèd by th8 charity commission ralating to public bènèfit. The prlnclpal object of thè ¢harlty, whlch has not changed sln¢8 the last annual report, is lo promote the Hindu re16glon and th8 culture of the Gularal Hindu Communty in Preston and District. Thè Society is an unincorporated association. In order to further ils obje¢tives the So¢iety.- Fosters and encourages the religious, cultural and intellectual advancement of persons of the Hindu faith resident in Preston and District. b. Provides for other charitable purpose in connection with the Hindu Religion. c. Is aulhorised and empowered lo do all such things as shall be conducive to the attainment of the above objects and aim. The Society continues lo attach great importance lo fostering an understsndlng of and relationship with other communities in the area. b. Strategies for achieving objectlves Thg Charfty fulflls Its oblecllves by ensurlng that there Is conllnuous contact and consullatlon wllh members of the Hindu community lo ensure that their cultural, religious and intellectual requirements are being supported wherever possible by the Society. The Society produces its monthly Samaj Deep magazine which is distributed free to all Hindu households in Preston and also posted lo members outside Preston. c. Activities for achieving objectives Rellglous Evonts The Temple is open lo devotees who regularly attend for personal worshlp. Devotees also attend the major religious festivals that are Gelebraled throughout the year, for example Shivralri, Ra Navmi, Janamashtsmi. Diwali, Navralri, Tulsi Vivah, Jalaram Jayanli, together with other minor festivals during the year. We have also Introduced the celebration of Ganesh Chaturthi and Visarajan. Throughout the year parents are encouraged lo bring their children lo the regular monthly bhajan bhojan for devotional singing. Education The Gujarali mother tongue language school has an enrolmenl of 80 ¢hildr8n laught by 7 sessional teachers. The school consists of S classes which are run on Saturday mornings. Reception class starts al age 6 years and after 7 years each child norrn8lly attains a GCSE in Gujarali with high grades. Once a year 8 Parents Day is organi5ed lo enable parents to meet with their children's respective teachers. There is also a Prize giving for high attainment in each class and a GCSE certificate presentation is made lo the children. On the day children showcase their talents in educational and cultural interests for their parents.
THE GUJARAT HINDU SOCIETY, PRESTON TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 Cultural A wide range of cultural activities are provlded al the Centre. for exarnple, classical and Bollywood dances for children and music classos for children and adults. Each year two major ¢ullur81 events are celebrated at the Cenlrg, India's Republic Day and Independence Day. At both of these events the ¢ommunity enjoy the presentations given by Ihg children and adults showcaslng the skills they have learned in the dancel musicl languagel singing classes. Young children also participate in the annual R8as and Garba competition organisetl by the Hindu Council of the North and bring homo prizgs for their choreographic talents and best dressed costumes. When invited by community institutions. young children and ladies perform dances lo share the Hindu culture with the wider community. Wisits to the C•ntre The Society receives visits from schools across Lancashire and Cumbria as part of IheSr Religious Education curriculum. as an extra- curricular activity and during the SACRE Youth Conference. An average of about 200 pupils together with their teachers visit the Centre per month during term lime. The Society provides infomiation lo all visiloTS aLx)ut the Hindu Gods, philosophy and way of life. Children are shown around the Centre and in the Temple where they have Ihts opportunity lo witness at first hand the pra¢li¢e and religion of Hinduism. Visits are also receivod from groups of trainee lea¢hgrs, youth clubs, uniformed c¥)ildrgn's groups and groups from Churches and other public sector organisations. Every y8ar during the summer and OuMn, we welcome about 20 coaches of devotees from around the Country lo have darshan at the temple an¢J bhojan prasadi enroule lo their tourists destinations. Elderly Luncheon Club The popular luncheon club for senior members of the community runs on Monday and Friday lunchtimes with an average attend8ncg of 60 people. This activity enables thg elderly people to have time out at the Centre. meet their peers and takg part in exercise and share healthy living experiences. Some members are supported in getting to the Centra by transport provided by Lancashire County Council. Yoga Actlvities Yoga acllvilies for health Conscious adults are held threg limes a week and these are open to all adults. Hall Hire The Centre is used by thtr Hindu Community for religious, social. educational and recreational 8clwities in the evenings and weekends. The Society makes the hall available for hire to the community for weddings and other communal gatherings. Maintenance The society this year has further incurred expenses towards painting the main hall in addition to cleaning and pointing the exterior of the building. Volunt•ars The organisation is managed by a team of volunteers from the community who give their time freely and regularly. Many of the volunlegrs have been trained on first aid and health and safely courses, The Centre owes it's ongoing success and achievements to the dedication of a large number of volunteers over many years.
THE GUJARAT HINDU SOCIETY, PRESTON TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 Volunteers (Continued) If you wish to join us in conlribuling lo and being part of our communrty please speak to any member of the Committee. You wll be made very wglcome. Maln a¢tlvltlos undortak¢n to furth•r th• ¢harity's purposes for the public benefit The Iruslees confirm that they have referred to the guidance contained in the Charity Commisslon's general guidance on public benefit when reviewing the charitls aims and objaclivgs and in planning future activities. Achlovémants and p•rforman¢o Ravl8w of actlvltlgs The So¢lety is continuing lo develop its normal social. cultural and educational activities for both mèmbers of th$ Hindu and the wider community. The Iruslees have leased the West Cliff premisas to a housing asso¢iallon who have now developed and renovated the property as sheltered accommodation for people over thè age of 55. b. Fundraislng actlvltl•$lln¢om• gon•ratlon The Society's principal financial objective has been to continue lo ensure financial stsbilrfty. The Society's operating plan entails maximum use being made by the community of the Temple facilities, and the Trustees anlicipale that this. together with planned religious, culttjral and other activities will support the continued focus on fulfilling the Sociells objecb'ves. During Covid the Society used social media platforms lo raise funds for Royal Preston Hospital to the sum of £7.000 plus for India Covid appeal raised £30,000 which was sent to the Prime Ministers Relief Fund. GHS ENTERPRISE GHS Enterprise Ltd was a wholly owned subsidiary of the Society. The enterprise facilities are used both by voluntary and publi¢ se¢ior organisations for hire of Ihe conferencing facilities. This ensures efficient use of the premises during the day lime and al the samè lime generates income. During the year the company was wound up and all activity is now completed by the charity. Investment policy and performanc8 The Management Committee has considered the most appropfiale policy for Investing funds and considers that the investment property held, plus th8 govemmenl savings bonds. rneet their requirements lo generate both income and ¢apltal growth. The Management Committee consider the return on investments in the year to b& satisfactory. d. Factors relevant to achieve objectives The Society atta¢hes great importancg lo maintaining close and regular contact with both the local communities and ¢ivi¢ aulhoiities. This is essential in promoting an awareness and understanding of the Hindu reli9ion and culture. During Covid the Soctety published a souvenir that covered the history of the Society from 1965 to 2021. The effort was pul in by young people towards the production of this special souvenir. Financial review Going concarn Aft8r making appropriata ènquirias, th8 trusl88s have a reasonable expactalion that the charity has adequate resources lo ¢onllnu8 in operatlonal existenc8 for the foreseeable future. For this reason they continue to adopt the going concem basis in preparing the financral statements. Furthef details regarding Ihg adoption of th8 golng concern basis can be found in the Accounting Policies.
THE GUJARAT HINDU SOCIETY, PRESTON TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 b. R•serves policy Reserves as at 31 March 2022 were £2,902.746 12021 £2,853,676). Free reserves were £1,026,728. The reserves policy of the Trustees is to ensure that the Society comTnits as much funding as possible lo furthering its objectives, whilst retaining on amount of cash adequate lo cover a period of 12 months of expenditure with little or no income arising. This need to conserve reSoUrS is particularly iTnport8nl in the current economic environment when overhead costs ar8 increasing and income is under pressure. In addition resourcas need to be retained to ensure that the facilitles and SeNiS providèd by the Society foT Its mambers meet thè long lerrn needs and expectations of the Community. The Society wll continue lo minimis8 costs to maintain satisfactory r¢serves. A substanllal reseNe has been maintained for the future purchase of the car park behind the Centre which is gssential for the memb&rs' use whilst attending the Centre. The Society 1$ embarking on resurfacing the entire car park at a cost of £30,000. Current updating of Ilghting in the Temple is also being carri$d out. ¢. Principal fundlng The charivs principal funding continues lo be from charitable activities and collections from members. Structure. governanco and management. a. Constitution The Society was constituted on 11 September 1976 and is a registered un-incoTPOTaled ¢h8rily, number 505959. b. Mathod of appolntm•nt or election of Tru$ts•s The manag8menl of the charfty Ss the responsibility of the Trus188s who are elected and cfropted undeT the terms of the Tru81 deed. c. Pollclgs adopted for tho Inductlon and tralnlng of Trust8eS The Trusteès take r8sponsibilily for ensurlng that Ihgy have the skills and knowledge required lo fulfil their rolfys efficiently and effectively. The Society regularly holds training sessions for Trustees to update their understanding of their roles and responsibilities. d. Organlsational structure and decision making The Trustees hold office for an initial peTiod of three years after which they may apply for re-election or resign. Al each Annual Gener81 Meeting, five members of the committee retire and, if eligible, may present themselves for re-election. Management of tho Sociells affairs is enlrusled to a Management Committee. No member of the Managernent Committee may hold the same office for a continuous period of in excess of 3 years. Reporting lo the Management Committee are 8 sub-groups who are responslblo for the primary operational activities of the Society. The groups are.. Reli9ious. Educalion, Youth and Cultural, Hall Hire. Maintenan. GHS Enterprises and Elderly Luncheon Club. The property of the Society is h91d in trust by the Holding Trustees of the Society. Related party relatlonshlps GHS Enterprise Llmited, a company Ilmlteij by guarantee of thè Trustees, conducts non.charitable tradlng activities for the purpos8 of raising funds for Ihg Charity. Some eligible Pfofits arising are donated annually under Gfft Aid to the Charity. GHS Enterprise Ltd is managed by a Board conslsllng of the President, Vice President, Secretsry, Treasurer and one appointed member of GHS. During the year, the activity of the subsidiary has been transferred to the char41y. and the trading subsidiary is in the process of bging wound up.
THE GUJARAT HINDU SOCIETY, PRESTON TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 Rlsk managèment The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems and procedures are in pla¢& to mbtig8ts our exposure lo the major risks. Plan$ for fvture periods a. Future developments The Irust8es vlslon for the future is to '. Provlde and further develop our services and facilities to the community Encourage young people and women onto the board so that future board membèrs reflect the community the Society services Offer and deliver excellent and varied meellng facilities al the Centre Offei more attractivo and optional hlrlng packages for social, leisure and educational activities and events Extend tho seryices provlded to senlor members of the community Ensure the financlal slabS1ily of the Society for future generations Revlew current activities and prepare strategic plans for the future. This report was approved by the Trusle8s on........... .and signed on their behalf by.. l D Tailor MBE JP DL PRESIDENT
THE GUJARAT HINDU SOCIETY, PRESTON INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GUJARAT HINDU SOCIETY, PRESTON I report lo the charity Iruslees on my examination of the accounts of the charity forthe year ended 31 March 2022 which are set out on pages 9 to 24. Responslbllltlos and ba$ls of report As th8 charity's truste&s you are responslble for Ihg preparation of the accounts In accordance with the requirements of the Charities Act 20111'lhe Acl'l. I report in respect of my examination of the charills accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the appli¢ab18 Dir8Ctions given by the Charity Commission under section 145{5llbl of the Act. Independent examiner's statement I have completed my examination. I confim that no material matters have come lo my attention in connection with the examination givin9 me cause to believ& that in any mater¢al respect.. accounting records were not kept in respect of the charity as required by secllon 130 of the Act- or the a¢counls do not accord with those records", or the accounts do not comply with the applicable requirements concerning the form and content of a¢untS set out in the Charities IAccounls and Reportsl Regulations 2008 other than any requirement that the accounts give a 'truè and fairview, which is not a matter conSided as part of an independent examination. I have no con¢erns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo b8 reached. Nicola Mason FCA DChA MHA Moore and Smalley Slalulory Auditor Richard Housts Winckley Square Preston PR1 3HP 221812022
THE GUJARAT HINDU SOCIETY, PRESTON STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 Unrgstrl¢¢od funds 2022 R¥strfl Endowm•nt funds funds 2022 2022 Total funds 2022 Total funds 2021 Not• Income and endowments from: Donations and1gga¢ies Ch8rSlable activities Trading activities Investment income Other income- Covid Job Retention Scheme 23.849 114,821 13,925 49.453 23.849 145,225 13.925 49.453 3.659 14,469 79,137 2,516 52.119 6,090 30.404 3.659 Total in¢om¢ and •ndowmonts 202.048 34.063 236.111 154,331 Expenditure on: Charitable activities 119.628 62.865 10.638 193.131 166,933 Total expenditure 119.628 62.865 10.638 193.131 166.933 Not In¢omoll•xpondllurg1 b•fore transfers 82,420 {28,802) {10,6381 42,980 112,602) Transfers between funds 14 Nel movement in funds 82,420 {28.802) {10,6381 42.980 112.602} Total funds brought forward 1,204,924 1,519,349 135,493 2,859,766 2,872,368 Total funds carried forward 1.287.344 1,490.547 124.855 2.902.746 2.859.766 The notes on pages 12 to 24 form part of Ihestr financial statements
THE GUJARAT HINDU SOCIETY, PRESTON BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Not• Flx¢d assets Tangible assets Investments 1,079,717 933,849 2,013,566 1,122,814 933,849 2,056,663 10 Current as$ets Debtors Cash al bank and in hand 11 12 9.331 796,592 891,436 891.436 805.923 Credltor$ . amounts falling tlLse within one year 13 12.256) 12,8201 N•t curr8nt assets 889.180 803.103 Total assets less current Ilabllltlgs 2,859,766 Creditors . amounts falling due after more than one year 13 Not assats 2,902.746 2.859.766 Charity funds Endowment funds Reslricled funds Unrestricted funds 14 14 14 124.855 1,490.547 1,293,965 135.493 1,519,349 1,204,924 2.902,746 2.859,766 l /ivc 202.L... The financial statsmgnts were approved by the Trustees on......... by.. and signed on thelr behalf l D Tailor MBE JP DL PRESIDENT The notes on pages 12 10 24 form part of these financial statements -10-
THE GUJARAT HINDU SOCIETY, PRESTON STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Cash flows from operating activitles Net cash flow from operating activities 40.856 (9,4281 Cash flow from Inv•$tlng a¢tlvltle$ Dividends, interest and rents from investments Additions to investments Purchase of tangibl8 fix8d assals 56.069 52.119 {2.0821 {29,665) Net cash generatedllusedl by investing activities 53,988 22,454 Change in cash and cash equivalent in the year 94,844 13.026 Cash and cash equivalents brought forward 796,592 783.566 Cash and cash equivalents carried forward 891,436 796,592 Analy$i$ of ¢a$h and cash •qulv*l•nt$ 2022 2021 Cash at bank Cash In hand 888.103 3.333 794,313 2,279 891.436 796,592 Reconciliatlon of net movement In funds to net cash flow from operatlng activities 2022 2021 Net lexpendilureyincome for the year 42,980 112,6021 Adjustment for- Depreciation chaTges Dividends, interest and rents from investments De¢reasel{increasel in debtors Increaselldecreasel in creditors 45,180 156,0741 9,331 1561) 42,628 152,1191 16.910 14,245} Net cash flow from operatlng acfjvltlos 40,856 {9,428 The notes on pa9es 12 to 24 form part of these financial statements
THE GUJARAT HINDU SOCIETY, PRESTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2022 Accounting policiès Basls of prgparation of financial statements The financial slalements have been prepared in accordance wth Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in ac¢ordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019 (Charities SORP IFRS10211. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Act 2011 and UK Generally Accepted Practice. The financial statements havg been prepared to give a true and fair view and have departed from the Charitiès (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has Involved following the Accounting and Reportlng by Charities.. Slalement of Recommendèd Practice applicable to ¢harili8s praparing their accounts in a¢¢ordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021 issued on 16 July 2014 rather than the Accounting and Reporting by Charities.. Stalernent of Recommended Practice effe¢live from 1 April 2005 which has slnce been withdrawn. The Gujarat Hindu Society, Preston conslte$ a public benefrt entity as defined by FRS 102. The financial ststements are prepared on a going concem basis under the historical cost convention. The financial statements are prepared in sterling which is the funcllonal currency of the charity and are rounded lo the nearest £1. Fund a¢countlng General funds are unrestri¢led funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Re5triGted funds are funds which are to be used in accordance wth specific restrictions imposed by donors or which have been raised by the charity for particu18r purposes. The costs of raising and administersng such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes lo the financial slalemenls. Income All income is recognised once the charf(y has entitlement lo th8 incom8. it is probable that the Income will be receivgd and the amount of Incom8 receivable can be measured rellably. Donated services or facilities are recognised when the charity has control over the Item, any conditions associated with the donated item have been mel, the receipt of e¢onomic benefit from the use of the charity of the item is probable and that econornic benefit can be measurod reliably. In accordance with the Charities SORP IFRS1021, the g&neral volunteer lime of the Friends is not recognised. Refer to the Trust88s' report for more information about their conlribulion. On reipl, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity woukl have been willing lo pay lo oblait) services or f8cilities of equivalent eccFnomi¢ benefit on the open market., a corresponding amount is then recognised in expenditure in the period of receipt. Income lax recoverable in relation lo donations received under GiftAid or deeds of covenant is recognised at the lime of the donation. Income tax recoverable in relation to investment Income is recognised al the limè the investment income 1$ rg¢8ivable. -12-
THE GUJARAT HINDU SOCIETY, PRESTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Expondlture All expenditure linclusive of VATI is accounted for on an accruals basis and has been included under expense categories that aggregate all cos15 for alk)calion lo activities. Where costs cannot be directly attributed lo particular activities. they have been allocated on a basis consistent with the use of the resources. Governance costs include those costs incurred in the governance of the charit*s assets and are associated with conslitulional and statutory requirements. Dirgcl costs are Costs directly related lo employment in, or the plomolion of the Hindu roligion and culture. Support Costs are all other costs incurred by the charity which are not direct costs or govemance costs. Golng con¢•rn The trustees are required to assess whether the use of going concem is appropriate. ie whether there are any material uncertainties related lo events or conditions that may cast significant doubt on the ability of the charitsble company lo continue as a going concern. Thè Trust8&s mak8 this assessm8nl in respect 018 period of 81 ltrasl one year from the dale of authoris81ion of the 8¢wunts. Al tho date of approving these accounts the Iru81trtrs have a reasonable expe¢lalion that the ¢h8rily has sufficient cash resources to enable il lo meet ils Ilablliues as they fall due for al least 12 tnonths from the dale of approval. Thus the ttustees continue to adopt the golng concern basis of accounting in preparing the financial statements. Tangible fixed assets and depreciation Tangible fixed assgls are carried al cost, ng1 of depreciation and any provision for impaimienl. Depreciation is not Charged on freehold land. Depreciadon Is providgd al rates calculated to Write off the cost of fixed assets, less their osllmaled residual value, over theSr gxp8¢led useful Ilves on the followlng bases.. Freehold propety Fixtures & fittings 2% slraighl line 12.50/0 on reducing balance Inve5trnent$ Fixed asset investments are a form of financial instrurnenl. and are initially Tecognised al their transaction cost and subsequently measured al fair value at the Balance sheet dale, unless fair value cannot be measured reliably in which case il is measured al cost less impairment. Investment gains and losses, whether realised or unrealised. are Combined and shown in the heading 'Gainslllossesl on inveslmenls, in the Slalement of financial activities. Interest receivable Interest on funds held on deposit is included when receivable and Ihe amount can be measured reliably by the charity.. this is normally upon notification of the interest paid or payable by the Bank. -13-
THE GUJARAT HINDU SOCIETY, PRESTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Lea$lng and hirg purchase Assels obtsined under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired byfinance lease are deprecsaled over the Shorter of the lease term and their useful lives. Assets acquired by hire purchase 8rtr dgpre¢iated over their useful lives. Finance leases are Ih05e where substsntially all of the benefits and risks of ownership are assumed by the charity. Obligations under such agreements are in¢luded in creditors nel of the finance charge allocated to future periods. The finance element of the rental payment is charged to the St8tement of financial activities $0 as to produ a constsnt periodic ralg of charge on the net oblvJalion OLrtslanding in each period. 1.10 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepaymgnts ar8 valtjed al the amount prepaid n&t of any trade discounts due. Cash at bank and In hand Cash al bank and in hand includes cash and short term highly liquld Investments with a short malurily of three months OT less from the dale of a¢quisition or opening of the deptssll or similar account. 1.12 LIablIleS and provlslons Liabilities are recognlsed when there is an obligation at the balance sheet dale as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement. and the amount of the selllemonl Can be estimated reliably. Liabilities arg recognised at the amount that the charity anlicipales it will pay lo settle the debt or the amount it has re¢eived as advanced payments forthe goods or services it musl provide. Provisions are measured al the best estimate of the amounts required lo sellle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific lo the li8bilily. The unwinding of the discount is re¢ognised within interest payable and similar char9es. 1.13 Financial instruments The ¢harily only has financial assets and finarscial liabilities of a kind th8t qualify as basic financial instruments. Basic financial instrurllenls are initially recognised at transaction value and subsequently measured al their settlement value. 1.14 Crltlcal estimates and ludg•m•nts The charity rnakes estimates and 8ssumplions concerning the future. The resulting accounting eslimales and 8ssumptions will, by definition, seldom 8qual the related actual results. Th8 estimates and assurnplions that have a significant risk of causlng material adjustment lo the caryng amounts of assets and liabilities relate lo the valuation of fixed assets and investment policy. See the accounting pollcy for basis used for valuation. -14-
THE GUJARAT HINDU SOCIETY, PRESTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Donatlons and1oga¢l•$ Unrestricted fund5 2022 R•$tri¢ted Endowment funds funds 2022 2022 Total funds 2022 Total funds 2021 Donations 23.849 23,849 14,469 Includgd within unrestricted donations is a donation of £15.37612021 £9,151} received frorn. GHS Enterprise Limited. All donations in th8 current and prior year related to unreslrtcted funds Income from charitable a¢tivitie$ Unrestrlct8d fvnd$ 2022 Restrlcted funds 2022 Endowmant funds 2022 Total fund5 Total funds 2022 2021 Society obl•¢tivo$ Grants Prayer hall donations Prayer hall Arati box Religious fesllvals Samaj Oeep General cultural actimties Language tuition Elderly group 30.000 30,000 2,169 39,477 52,796 7,130 4,549 2,303 6,801 2,169 39,477 52,796 7.130 4.145 2.303 6.801 3,115 24,168 29.567 5.691 15,140 1.320 136 404 Totsl 114.821 30.404 145,225 79.137 Prior year Unrestricted fund$ 2021 Restricted fvnds 2021 Endowment funds 2021 Total funds Total funds 2021 2020 Society objectives Grants Prayer hall donations Prayer hall Arti box Religious festivals Samaj Deep General cultural activitie5 Language luilion Eldedy group 3.115 24,168 29,567 5,691 15.140 1.320 136 3,115 24,168 29.567 5.691 15,140 1,320 136 12.772 39,650 53,234 7,673 14,539 2,480 11,687 Totsl 79.137 79,137 142,035 -15-
THE GUJARAT HINDU SOCIETY, PRESTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Tradlng activities Unr•$trfjcted fund$ 2022 Restricted Endtywment funds fund¥ 2022 2022 Total funds 2022 Total Funds 2021 Profil on sale of rgllgious items Wedding hall hire other Tenlal income GHS Enterprise income 1,372 6.134 1.372 6,134 1,031 1,329 156 6.419 6,419 Totsl 13,925 13.925 2,516 Income from trading actlvllles in the year ended 31 March 2022 and the prior year ended 31 Mar¢h 2021 W88 all unrestrictfrd. Investment In¢om¢ Unrestricted funds 2012 Re$trl¢ted Endowment fiJnd5 fund$ 2022 2022 Total funds Total funds 2021 2022 Bank interest receivable Rentsl in¢ome Interest on bonds 8,385 37,281 3.787 8.385 37.281 3.787 9,644 42.475 Total 49.453 49,453 52,119 Prlor year Unrestrlcted funds 2021 Restrlctod Endowment fvnd8 funds 2021 2021 Total fvnds Total fund$ 2020 2021 Bank Interest receivable Rent of West Cllff property 1.411 42.475 8,233 9.644 42,475 26,867 38,137 Total 43.886 8,233 52,119 65,004 -16-
THE GUJARAT HINDU SOCIETY, PRESTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Exponditurg on charitablg activities Unrestrlctod fund8 2022 Restrlctod Endowment funds lunds T¢)tal lunds Totsl lunds 2022 2022 2022 2021 Direct 365 day service expenses Religious festivals General ¢uttural aclivitl8s Elderly gTOUP Language tuition Samaj Deep Advertising Wages and salaries Inolg 81 GHS Ent8ipriso salaries 2,288 4,953 2.857 1.s71 2,288 4.953 2.857 1.571 1,230 2.451 14.869 96 1,883 2,831 946 27,247 2.848 11.025 7,535 12.461 45.538 2.848 11.025 21,832 12.461 $9,835 3,659 111,638 3.659 10.638 51,553 Support Telèphon8 Rat8$ and walar Printing, postage and stsllonery General expenses GHS Enterprise other costs Instsrance Heat and light Repairs and maintenance Depreciation Grant expenditure Governance cost5 Inote 71 1,548 5,832 2,296 1.694 1.620 10.885 20,S04 9,236 15,974 1.548 5.632 2.296 1.694 1.620 10.885 20.504 9,236 45.180 30.000 4.701 133.296 1,253 7,515 2,789 1,966 13,208 19,429 23,088 42,628 29,206 3(J,000 4.701 74.090 3,504 115,380 59.206 Total 119.628 62.865 10.638 193.131 166,933 -17-
THE GUJARAT HINDU SOCIETY, PRESTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Expendltur* on charltable activities {Contlnu•d) Prior year Unre8trlcted funds Ro$tri¢tod Endowmont fund$ funds 2021 2021 Total funds Total funds 2021 2021 2020 Dlre¢t 365 day sèNice expenses Religious fèstivals General cultural activities Elderly group Language tuition Samal Deep Advertising Wages and salaries (note 81 1,230 2.451 14.869 96 1,883 2.831 946 8.805 33,111 1.230 2.451 14,869 96 1,883 2,831 946 27.247 51.553 4,669 22,921 11,388 4,715 713 4,690 1,776 17,493 68,365 6,090 6,090 12,352 12,352 Support Telephone Rat8s and water Printing, postage and stationery General expens8S Insurance Heal and light Repairs and maintenanc8 HP interest Depreciation Governance costs (note 71 1,253 7,515 2,789 1,966 13,208 19,429 23.088 1,253 7.515 2.789 1.966 13.208 19,429 23,088 1,176 9,773 2,778 2,668 12,715 27,133 32,385 11,646 3.504 84,398 30,982 42,628 3,504 115.380 44,081 2,667 135,376 30.982 Total 117,509 37,072 12.352 166,933 203,741 Gov•rnanco costs Unr05trlcted fund5 2022 Re$trl¢t¢d funds 2022 Endowm•nt funds 2022 Totsl fund$ 2022 Total funds 2021 Accountancy Legal laes 4.094 607 4,094 607 2,940 $64 4.701 4,701 3.504 All governance wsls in the current and previous year related to unrestricted funds. -1&
THE GUJARAT HINDU SOCIETY, PRESTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 staff cost$ Staff costs were as follows.. 2022 2Q21 Gross Employer's NIC 32,716 1,577 25.740 1.507 Total 34,293 27.247 2022 No. 2021 No. Employees 13 12 No employee rèceived remunerallon amouriting lo more than £60.000 in either year Key management personnel are considered to be the following D H Nayee. President ID Tailor MBE JP DL, Vice President A M Jariwala, Sécretary B Panchal, Tr&asurer None of the above have recelved any remLtn8ration in kind or any reimbursement of expenses12021 £nil). Durlng th8 year, no Trustees, recelvod any remunerallon. benefits in kind or any reimbLtrrsement of expenses12021 £nlll -19-
THE GUJARAT HINDU SOCIETY, PRESTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Tanglble fixed assèts Fr•¢hold Fixtures property and Fittings Total Costs Al 1 April 2021 Additions 1,585,310 294,070 2,082 1,879,380 2,082 At 31 March 2022 1,585,310 296,152 1,881.462 Doprociation Al 1 April 2021 Charge for year 610,587 29,206 145,979 15,973 756.566 45,179 Al 31 March 2022 639,793 161,952 801,745 Net book valuo At 31 March 2022 945.517 134,200 1,079,717 At 31 March 2021 974,723 148.091 1.122,814 Included in the land and buildings is freehold land al valuation of £125,00012021 £125.(1001 which is not depreciated. -20-
THE GUJARAT HINDU SOCIETY, PRESTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 10 Fixed asset investments Valuation The property al 48 Wesl Cliff, Preston was valued by Lea Hough Chartered Surveyors in January 2016 al £540,000 Icost £400,195). The property al 48 Wesl Cliff, Preston was previously valued on the basis of open market value on 19 September 2000 by Eckersley & Co Chartered SuNeyors at £250,000. Th8 proparty at 54 South Méadow Lan¢8 was valued by Lea Hough Chartered SurveyoTS in JanLtrary 2016 at £90,000 Icosl £60,372) The property at 48 South Meadow Lane has not been valued extemally since its purchase in 2013. The trustees believe that this valuation is still appropriate for the property. 2022 2021 48 Wesl Cliff, Preston Seva Bond 1 Seva Bond 2 54 South Meadow Lane 48 South Meadow Lane 540.000 42,000 95,550 90.000 166.299 540.000 42,000 95,550 90,000 166,299 933.849 933,849 Subsidiary Undertakings The following were subsidiary undertakings of the charity.. GHS Enterprise Limsted The charity wholly owns GHS Enterprise which is a company limited by guarantee. All of its nel in¢ome is gift aided to the charity. The principal activity of the company is the commercial hiring out of the facilities owned by the Society. The company ceased trading as at 30 September 2021 and all activity was transferred to the charity. The net assets as al 30 September 2021 and the profivllossl for the year ended on that date for the subsidiary undertakings were as follows.. Turnover CJRS Grant Cost of sales Other expenditure 23,906 9,201 12,8211 {16.973} Proflt for tho yoar 13,313 Charitable donation to Gularal Hlndu Soclely 13.313 Retained profil Net assets -21-
THE GUJARAT HINDU SOCIETY, PRESTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 11 Debtors 2022 2021 Prepayments and accTued income Amount due from subsidiary undertaking 180 9,151 9,331 12 Cash at Bank 2022 2021 Skiplon Building Society Yorkshire Bank HSBC HSBC- GHS Enterprise Cash in Hand 315,409 217,680 335,784 19,23r> 3.333 211,455 210,07S 372,783 2,279 891.436 796,592 13 Crodltors: Amounts falling due wlthln on8 year 2022 2021 Accruals and deferred incorne 2.258 2.820 2.258 2,820 -22-
THE GUJARAT HINDU SOCIETY, PRESTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 14 Statement of funds Current year Balance at 1 Balance at 31 March 2022 Tran$f¢r$ inlloutl 2021 Income Expendituro Unrestricted funds General funds 1,204.924 202.048 1119,6281 1,287,344 Endowment funds 365 day servica fund 135,493 {10.6381 124.855 Restrlcted funds Coronavirus Retention S¢heme Temple resloTalion fund Stsge lighting fund Covid India Cultural Activities Job 3,659 (3,6591 1,507.834 11.515 127,4601 11.7461 130.0001 1,480.374 9.769 30,000 404 Total 2.859,766 236,111 {193.1311 2.902,746 Prioryear Balan¢e at 1 April 2020 Balance at 31 March 2021 Tran$f•rs Inllout} Incorne Expenditure Unr•strl¢t•d funds General funds 1.182.425 140,008 1117,5091 1,204.924 Endowmtnt funds 365 day service fund 139,612 8.233 112.3521 13S,493 Restricted funds Coronavirus Retention Schem8 Temple restoration fund Stage lighting fund Job 6.090 {6.0901 1,536,897 13,434 129.063} {1.9191 1.507.834 11.515 Total 2,872,368 154.331 {166.9331 2,859,766 -23-
THE GUJARAT HINDU SOCIETY, PRESTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 14 Statemgnt of funds Icontinuedl Unrestricted funds- Funds which aro available for use at the discretion of the Trustees in the furtherance of the general objectives of the charity. Pemanenl endowment funds- The OTiginal 365 day service fund was sel up in 1985. The income from the investment held by the fund is available lo be used lo support the general cultural, religious and social actfvilias of the So¢iety. Restricted funds- The temple rèstoration lund was established in 1997 to provide for the building of the new cultural and religious cenlre. The building was complel8d in 2000. Transfers lo this fund are made each year from unreslri¢tfyd funds in respect of deprecation. 15 Analysls of net a$s•ts botwo•n funds Currentyear Unre$trl¢ted funds Reslrl¢ted Endowment fund$ fund8 Total fund5 Tangible fixod assets Fixed asset investments Current assets Creditors due within one year CredSlors due in more than one year 134.200 256.299 899.101 12,2561 945,517 540,000 5,030 1,079,717 933,849 891,436 12.2561 137,550 112,6951 1.287,344 1.490.547 124,855 2,902,746 Prloryear Unr¢strlci8d lunds Restricted fund$ Endowment funds Totsl funds Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year 148,091 258,356 801,297 (2,820) 974,723 540,000 4.626 1,122,814 933,849 805,923 12,820) 135,493 1,204,924 1.519,349 135,493 2,851.217 16 Related party transactlons The charity received a donation of £13,31312021 £9,151) from GHS Enterprise Limited, a subsidiary company of the charity. Al the year*nd £nil12021.. £nill was due between both patties. 17 Controlllng party The charity is controlled by the Trustees. -24-