cOMrtIUfy/,' SHREE HINDU COMMUNITY CENTRE b/RtsiNGHK*, Charity Registration No: 509274 541a Warwick Road Birmingham, B112JP REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Shree Hindu Community Centre Report and Financial Statements For the Year Ended 31 March 2024 CONTENTS Page Reference and Administrative Information Report of Trustees Structure, Governance and Management Objectives and Activities Achievements & Performance Trustees Responsibilities Key Highlights of the year Future Improvements Summary & Thanks Statement of Financial Activities l Balance Sheet Notes to the Financial Statements 9-11 Independent Examiner's Report 12 Accounting Policies 13
Shree Hindu Community Centre Report and Financial Statements For the Year Ending 31 March 2024 Reference and Administrative Information Charity Number 509274 Registered 541a Watwick Road, Address Birmingham 8112JP Independent Nebula Accountants & Registered Auditors Examiner 31 Crown Way Chellaston Derby DE73 5NU Bankers TSB 2136 Coventry Road Bimiingham B26 3JW Bank of India 182 Soho Road Birmingham B219LP Stale Bank of India 118 Soho Road Birmingham B219DP Management The AGM was held on 3rd December 2023. The presenl Management Committee is as follows '. Committee President Vasant Chauhan Vice President Secretary Vijay Inamdar Assistant Secretary Treasurer Assistont Treasurer Dr Anjum Gandhi Committee Ramesh Chauhan Chndrakant Chavda Dr Shalini Gandhi Dhiraj Jagatia Rambhi Karavadra Hargovind Miangar Jayesh Mianger Ajay Pancholi Narendradeo Parmar Rasik Parmar Anju Shah Prafulla Sheth Bhawna Solanki Vinod Thakrar Co-opted Shivan Dhorajia TTUStees Mukesh Ladwa Chandrakant Pattni Mahendra Dabhi Harilal Shah Anjana Shelat 2023_24 Final- 16 June 2025 Page I
Shree Hindu Community Centre Report and Financial Statements For the Year Ended 31 March 2024 The Trustees present Iheir report and the independently examined financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of the Slatement of Recommended Practice (SORP) "Accounting and Reporting by Charities" in preparing the annual report and financial statements of the Charity. The financial statements have been prepared in accordance with the accounting policies set out in noles to the accounls and comply with the Charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. 1 Structure, Governance and Management 1.1 Govèrnlng Document Shree Hindu Community Centre is a registered charitable organisation and it is governed by a constitution registered with the Charity Commission in November 1979. 1.2 Appointment of Trustees The legal, management and operational responsibility are bestowed on the Management Committee which is elected from the Charity's members. The Management Committee currently comprises 23 members from whom the 6 main office bearers and 4 Trustees (or more) are elected. The Management Committee has powers to co-opt up to 5 additional members. 1.3 Related Parties Shree Hindu Community Centre is an independent, voluntary organisation, and it is not formally linked to any othèr organisation with similar names. 1.4 Risk Management The Trustees and the Management Committee reviews risk5 on an on-going basis to which the Charity is exposed and lo ensure appropriate controls are in pla lo provide reasonable assurance against fraud and error and are satisfied that the systems are in place to mitigate exposure to the major risks. 202&24 Final- 18 June 2025 Page 2
Shree Hindu Community Centre Report and Financial Statements For the Year Ended 31 March 2024 2 Objectives and Activities 2.1 ObJeCveS of the Charity SHCC was formed in 1979 by Hindu community groups in Birmingham to promote Hindu religion and culture, and to facilitate social, cultural and educational activilies for local communities. In furtherance of these objectives, SHCC Organises cultural, educational and religious I spiritual programmes Holds participative classeslworkshops for dance and music Promotes Gujarati and Hindi language Promotes Yoga and self defence Provides facility for religious activities and functions Provides support and facilities to its members Represents the interests of the Hindu community and actively promote5 Hindu values. SHCC is a member of a number of umbrella Hindu organisations, namely Hindu Council of Central England {fomierly Hindu Council of Birmingham), National Council of Hindu Temples and Hindu Forum of Britain. SHCC also works with a number of partner organisations. notably Bimiingham City Council, Solihull Metropolitan Borough Council and Birmingham Faith Leaders Group. 2.2 Organisation Structure SHCC is an independent, community-based, volunlary organisation that has a mandate lo pursue such activities deemed appropriate in the furtherance of the objectives as laid down in the Constitution. SHCC is run by a management committee, which is elected by the members of the organisation al an Annual General Meeting. The main office bearers are then elected from the elected members. As part of its wide range of activities, SHCC operates . Anand Milan Kendra {AMK). a day ntre for the elderly, is based at SHCC. It is also responsible for keeping the basic financial records of its day-to-day activitie5 and reporting to SHCC Management Committee on a regular basis. SHCC has the overall responsibility to ensure that AMK is managed and run efficiently and is operating to promote the overall objectives of SHCC. Sparkhill Gujarati School (SGS) is based at SHCC. It Is responsible for keeping financial records of its activilies and reporting to SHCC Management ComTnittee on a regular basis. SHCC has the overall responsibility to ensure thal the Gujarali School is managed and run efficiently. The functioning of the Shree Laxmi Narayan Temple and the religious and spiritual activities is the responsibility of an appropriately qualified. full-time priest with support from the religious sub-committee and dedicaled patrons of the temple. Additionally, SHCC also manages other major activities and improvements through sub-committees as follows '. Religious Committee Cultural Committee Building Maintenance Committee Finan CoTnmittee Anand Milan Kendra Committee Gujarati School Committee 2023.24 Final- 16 June 2025 Page 3
Shree Hindu Community Centre Report and Financial Statements For the Year Ended 31 March 2024 3 Achievements and Performance 3.1 Financial Review With the aid of sound financial management and the support of members and well-wishers, SHCC generated an income of £261,907 with the overall expenditure of £179,679 which includes deprecialion of £55,519 resulting in a surplu5 of £82.228. 3.2 Investment Power & Policy The Constitution of SHCC empowers the Management Committee to pursue investments and financial policies that will solely benefit SHCC. Having considered the options. the Management Committee had decided to utilise some of Ihe income towards improvement of the external faGade (i.e. Ihe'shikhar Project.) and refurbishment of the enlrance of Swami Vivekananda Hall. 3.3 Reserves Policy The Trustees and the Management Committee review the reserves policy which includes a consideration of the nature of the Income and Expenditure streams, the requirement to malch variable income with fixed commitments and a consideration of the nature of the reserves. After reviewing the anticipated income and expenses, the Committee has decided to priorilise payments to Ihe creditors before considering further capital improvement works, save as any priority building maintenance works such as roof and truss repairs to the Saraswati Hall balcony and tower. 3.4 Ongoing Works I Plans for the future During the year, SHCC completed the internal and extemal improvements including the'shikhar Project. works. Wilh the exception of Saraswati Hall repairs as stated aforesaid and other relatively minor improvements, no other major improvements are planned during the period to 311312024 and beyond until the creditor amount has been substantially eliminated which save as any unforeseen events or circumstances is expected to be by 311312025. 3.5 Financial Results & Investments SHCC does not have any long-term cash investments and therefore there are no financial results to declare. 3.6 Charity's Properties SHCC owns the following properties . 541a Warwick Road, B112JP 537 Warwick Road, B112JP 624-630 Watwick Road, B112HJ 2 Havelock Road, 8112RG 4 Trustee's Responsibilities The trustees are responsible for preparing the Trustees, Annual Report and the financial stalements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi}. The law applicable lo charities in England & Wales requires the trustees lo prepare financial statements for each financial year which give a true and fair view of Ihe stale of affairs of the Charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements. the trustees are required to.. select suitable accounting policies and then apply them consistently., obSee the melhods and principles in the Charities SORP 2015 IFRS 102>- make judgements and estimales thal are reasonable and prudent-, state whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements.. prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. 2023-24 Final- 18 June 2025 Page 4
Shree Hindu Community Centre Report and Financial Statements For the Year Ended 31 March 2024 The trustees are responsible for keeping proper accounling records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply wilh Ihe Charities Act 2011, the Charities (Accounts and Reports) Regulations 2015 and the provisions of the trust deed. 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. In so far as the trustees are aware.. there is no relevant audit infomiation of which the charitable company's independent examiner is unaware., and the trustees have taken all steps that they oughl lo have taken to make themselves aware of any relevant audit information and to establish that the independent examiner is aware of Ihat information. 5 Key Highlights ofthe year During the year, SHCC returned to normality with the completion of the external improvement works including the 'Shikhar Project, and internal improvements to the right of the premises, i.e. the Swami Vivekananda Hall and the Mandir Hall. The frontage of the premises received substantial transfonnation with new perimeter wall, railings, relocaled ODA compliant access ramp and new paved areas. The Mandir Hall was also Iransformed with improved lighling and decoralion in keeping with the ambience of the Temple. As a result of the successive phased transfomialion of the premises over several years, punctuated by the effects of Covid, SHCC has now established ilselfas a prominent landmark on a major route between Birmingham and Solihull as well as a Centre facilitating activities for members of the communily of all ages either born in the United Kingdom or originating from numerous slates across India. With the robust financial management and donations, SHCC'S financial position remains reasonably healthy (bolstered by regular income from the Investment Properties). SHCC'S balance sheet has seen consistent increases over the last 11 years. 5.1 Shree Hindu Community Centre I Shree Laxmi Narayan Temple Shree Hindu Community Centre I Shree Laxmi Narayan Temple has continued to play a vital and cohesive role for the community. The temple's Social, cultural, religious and health activities have underpinned all faiths, interfaith and multi- cultural activities, notably Regular visits from schools, interfaith groups and colleges 2 weèk Summer Sanskar Club (during school holidays) for children aged 5-13 years Celebration of Hindu festivals either at the temple or online. including Maha Shivratri Holi (external event supported jointly by Hindu organisations) Ram Navmi Hanurnan Jayanti 32nd Anniversary of Shree Laxmi Narayan Mandir (Pran Pratishtha Patotsav) Saiya Narayan Kalha Samuh Pitru Pujan Janmashtami Shiv Pula Shree Ganesh Mahotsav Shree Ramdevji Jayanti Navratri Deepavali, Chopda Pujan & New Year Jalaram Jayanli Tulsi Vivah Further= Devotees, members and well-wishers are kept infomed of the proposed activities of the SHCC by regular announcements at congregations, electronically and print. SHCC has played a full role in supporting the interfaith activities in Birmingham and hosting meetings. SHCC has provided in-kind support to other Hindu organisations. 2023-24 Final- 18 June 2025 Page 5
Shree Hindu Community Centre Report and Financial Statements For the Year Ended 31 March 2024 The Managernent Committee continues to identify aclivities and improvements to be undertaken to underpin the SHCC ethos of providing services to the Hindu Community. 5.2 Anand Milan Kendra (AMK) Anand Milan Kendra IAMK) provides services for the elderly through its self-finance approach and in-kind support from SHCC. 5.3 Sparkhill Gujarati School (SGS) Sparkhill Gujarali School (SGS) teaches Gujarati to children and youths up to GCSE standard. Through regular weekly sessions, pupils understand their culture and Hindu values to become law abiding and responsible citizens of the fuluro. 6 Future Improvements SHCC aims to continue to modernise its facilities and carry out improvement works where necessary subject to meeting the priorities identified elsewhere in this report. 7 Summary and Thanks At SHCC. we continue to create an environmentwhere individual members, theirfamilies and the wider Hindu Community are proud to belong and participate in Ihe regular activities. As a result. with the exception of the periods due to Covid-19, SHCC has seen a consistent growth in participation and in the usage of Ihe Centre facilities and ils seNices over the past few years. We have seen evidence of Éhis trend continuing with increase in database and further improvement in communication with the members and the community,. complelion of the Shikhar Project which provides a visible symbol for Ihe Hindu Community, internallextemal improvement works and continuous upgradinglmodernisation of the services and facilities available to members. Our heartfelt Ihanks and appreciation to all members and well-wishers who have generously donated and countless volunteers who have worked selflessly. tirelessly and given their precious time to underpin the activities of Shree Hindu Community Centre I Shree Laxmi Narayan Mandir. Wilhout such dedication and self-sacrifice, our objectives and organisationlimplementation of the events and activities would be harder to achieve and ultimately unsustainable. Signed for and on behalf ofthe Truslees and Management Committee by '. Vasanl Chauhan President Shree Hindu Community Centre kesh Ladwa ruslee Shree Hindu Community Centre Dale = ,/,/. Date . 2023-24 Final- 16 June 2025 Page 6
SHREE HINDU COMMUNITY CENTRE STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 MARCH 2024 Notes General Funds Restrlrted Funds Total Fund5 31.3.2024 Total Funds 31.3.2023 INCOMING RESOURCE5 Donations Investment Income Other Income 129,585 74.866 57.455 129,585 74,866 57,455 92,664 69,469 132,884 TOTAL INCOMING RESOURCES 261,907 261,907 295,017 RESOURCES EXPENDED Management & Administration 179,679 179,679 158,722 TOTAL RESOURCES EXPENDED 179,679 179,679 158.722 NET INCOMING RESOURCES FOR THE YEAR Total Funds 8rought Forward at 1st Aprll 2023 82,228 2,000,493 82,228 2,000,493 136,295 1,864,198 TOTAL FUNDS CARRIED FORWARD 31st March 2024 at £2,082,721 £0 £2,082,721 £2,000,493 Page 7
SHREE HINDU COMMUNITY CENTRE BALANCE SHEET AS AT 31 MARCH 2024 Notes 31.3.2024 31.3.2023 FIXED ASS5 Tangible assets Investment Properties IRe5identiall 1,079,834 I,ioo,000 1,085.045 I,ioo,000 2,179,834 2,185,046 CURRENT ASSETS Debtors Cash in Hand Balances at Bank 6,000 700 115,320 12,561 700 157,325 122.020 170.586 CURRENT LIABILITIES Creditor5- amounts due within one year 121.440 257,446 121.440 257,446 NET CURRENT ASSET5 £5BO 1£86,8601 TOTAL NET ASSETS £2,180.414 £2,098,186 REPRESENTED BY.. FUNDS General Designated Restricted Property Revaluatlon reSee TOTAL FUNDS io 12 io li 2,082,721 2,000,493 97.693 2.180,414 97,693 2,098,186 Approved bythe Monagement Committee on I"G and signed on its behalf bv Vasant ChaL2han - President1SHCCI Muke Ladwa- Truste ISHCCI Page 8
SHREE HINDU COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 DONATIONS General Funds Restrlcted Funds Total Funds 31.3.2024 Total Funds 31.3.2023 General Donatlons Non Gift Aid Gift Aid 51,454 37,459 8,000 32,672 51,454 37,459 8,000 32,672 23,682 16,432 21,067 31,383 HMRC GiftAld Claim Peti Collection from Mandir 129,585 129,585 92,564 INVESTMENT INCOME General Funds Restrlcted Funds Total Fund5 31.3.2024 Total Fund5 31.3.2023 Rental Interest Received (Gros51 74,785 81 74,785 81 69,460 74,866 74,866 69.469 OTHER INCOME General Funds Restrlrted Funds Total Funds 31.3.2024 Total Funds 31.3.2023 Grant received Llfe & Annual Membership Fee5 Event5 & Trips Walkathon IOct'221 Religious & Cultural Funttions Hall Hire Sundry Income Insurance Claim-covid 19 Anand Milan Kendra Gujarati School 7,400 3,189 1,075 7,400 3,189 1,075 12400 960 41,710 22,362 12,285 1.130 25,000 15,637 1,400 22,678 6,496 1,768 22,678 6,496 1,768 12,702 2,147 12,702 .2,147 57,455 57,455 132,884 Page 9
SHREE HINDU COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 MANAGEMENT & ADMINISTRATION EXPENSES General Funds Restrlcted Funds Total Funds 31.3.2024 Total Funds 31.3.2023 Religious & Cultural Functions Events & Trips Project Expenses e.g. Walkathon Salaries & National Insurance Telephone Water Gas Electricity Insurance Building Repairs Lift & Equipment Maintenance Travelling & Subsistence Printing, Stationery, Postage, Computer Hygiene Subscription Sundry Audit & Proffessional Fees Bank Charges Depreciation - Building Depreciation - Fixtures & Equipment Anand Milan Kendra Gujarati School 18,391 1.071 18,391 1.071 8,159 791 2,683 6,600 1,694 5,251 6,220 6,474 5,396 32,587 3,201 16,123 1,485 2,065 5,508 9,168 6,466 32,416 7,121 16,123 1,485 2.065 5,508 9,168 6,466 32,416 7.121 1,743 5,189 219 2,941 1,464 84 41,960 13,559 12,706 1.743 5,189 219 2,941 1,464 84 41,960 13,559 12,706 1,499 2,090 35 4,005 4,308 55 41,798 17,041 8,835 179,679 179,679 158,722 TANGIBLE FIXED ASSETS Freehold Pro Murtie5 & Mandir Fixtures & ments Total Cost At 1st April 2023 Additions 1,467,100 45,191 20,126 2,001 260,720 3,115 1.747.947 50,307 At 31st March 2024 1,512,291 22,127 263,835 1,798.255 Depreciatlon At 1st April 2023 Charge for the year 453,303 41,960 209,599 13.559 662,902 55.519 At 315t March 2024 495,263 223,158 718,421 Net Bookvalue At 31st March 2024 1,017,028 22.127 40,677 1,079,834 At 31st March 2023 1,013,797 20,126 51,121 1,085,045 Page 10
SHREE HINDU COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INVESTMENT PROPERTIES 31.3.2024 31.3.2023 2 Havelock Road Fair Value 537 Warwick Road Fair Value 624-630 Warwick Road Fair Value 160,000 170,000 770,000 I,ioo,000 160.000 170,000 770,000 I,ioo,000 DEBTORS 31.3.2024 31.3.2023 Sundry Debtors 6,000 12,561 6,000 12,561 CASH AND BANK BALANCES 31.3.2024 31.3.2023 Cash in Hand Bank 700 115,320 116,020 700 157,325 158,025 CREDITORS 31.3.2024 31.3.2023 Sundry Creditors & Actruals 121,440 257,446 121,440 257.446 10 FUNDS 31.3.2024 31.3.2023 Balance at the beginning of the year Net Movement in funds during the year 2,000,493 82,228 1,864,198 136,295 Balance at the end of the year 2,082,721 2,000,493 11 PROPERTY REVALUATION RESERVE FUND 31.3.2024 31.3.2023 Property Revaluation 97,693 97,693 97,693 97,693 12 DESIGNATED FUNDS None 13 PAYMENTS TO TRusfEES No Trustees, Office Bearers or Management Committeè l MC I members were paid any remuneration as Trustee5, Office Beares or Management Committee member5. Page 11
SHREE HINDU COMMUNITY CENTRE 14 INDEPENDENT EXAMINER'S REPORTTO THETRUSTEES OFSHREE HINDU COMMUNITYCENTRE I report to the Charity trustees on my examination of the accounts ot the Charity for the year ended 31 March 2024 which are set out on pages 7 to 11. Responslbllitles and basis of report As the chariws trustees you are responsible for the preparation of the accounts in accordance with the requirement5 of the Charitie5 Act 20111'the Act'l. I report in respect of my examination of the Charitvs accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commi55ion under section 14515llbl of the Act. Independent Examiner's statement I have completed my examlnation. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. l. Accounting records were not kept in respert of the Charlty as required by Section 130 of the Act,. or 2. The accounts do not accord with th05e records,. or 3. The accounts do not comply with the app5icable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which 15 not a matter considered as part of an independent examination. I have no concerns and have come across 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. Signed .. Christlan Cloherty (Partner & Statutory Auditor, FCCA, CTAI Nebula Accovntants & Registered Auditor5 31 Crown Way Chellaston Derby DE73 5NU Page 12
SHREE HINDU COMMUNITY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES 1.1 Basis of preparation These accounts have been prep8red al Under the historical cost convention with items recogni5ed at COSt or transaction value unle55 Otherwise stated In the relevant notels) to these accounts. bl The Trustees present their report and the Independently examined financlal stslemenls of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice {SORPI "Ac¢ounling and Reporting by Charities" in preparing the annua5 report and financial statements of the Charity. The financial statements have been prepared in accordance with the accounting policie5 set out in notes to the account5 and comply with the Charitvs governing document, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland published in Ortober 2019. 1.2 Donation5 and voluntary Income All donations and voluntary income are accounted for gross when receivable. as long as they are rapable of financial measurement. 1.3 Grants and contributions Grants and contrlbutlons of a revenue nature are credited to income in the period to whlch they relate. Grants and contributions received relatlng to Infrastructure assets have been deducted from c05t of fixed assets. The effect of such treatment would result in the book value of certain assets being stated at the cost lower than it would otherwise have been. This is not in accordance with generally accepted accounting practice and appllcable accounting standards, which require5 assets to be shown at their purchase price and hence, grants and contributions to be presented as deferred income. The departure, in the opinion of the Trustees, is necessary to give true and fair view as no provision 15 made for depreciation and any grant5 and contributions relating to such assets would not be taken to the statement of financlal activities. Any other treatment would not make a material difference to the financial activities or funds shown. 1.4 Fixed assets and depreclatlon Tangible fixed assets are stated at COSt less grants Isee note 1.3 above) and accumLilated depreciation. Depreclation 15 calculated to write off the cost less their estimated residual value over their expected useful lives on the following basis Buildings and property improvements Murtis and "mandirf, fixtures All other a55et5 4% on reducing balance basi515ee note 1.31 Between IO% and 33.3% on reducing balance basis 1.5 Investment Propertie5 Investment Properties are stated at fair market value. 1.6 Description and use of funds Capital funds are permanent endowments which are required to be retained, but the Income from these fvnds can be used for the benefit of SHCC, subject In certaln case5 to Specific restrlction contained in the original endowment. Restricted funds are fund5 whose use is restricted to specific purposes according to the terms on which the fund5 were received. Unrestricted funds may be Spent generally for furthering the objectives and charltable work of SHCC. Certaln funds may be allocated by the Management Committee for the renovation andlor maintenance of SHCC properties. The Committee retains the authority to re.allocate such funds, and so they are treated as Designated Funds within the Unrestricted Funds. 1.7 Taxation SHCC1s registered as a Ch3rity with Charity Commission, and in accordance the provisions of Section 505, Income and Corporation Tax Art 1988, Is exempt from liability for taxation. Page 13