JAIN SAMAJ - MANCHESTER TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Registered Charity No. 511076 (England and Wales)
JAIN SAMAJ- MANCHESTER TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Page Association Information Trustees, Report Trustees, Responsibilities Honorary Independent Examinerfs Report Statement of Financial Activities Balance Sheet Accounting Conventions and Accounting Policies Notes to the Financial Statements 9-14
JAIN SAMAJ - MANCHESTER ASSOCIATION INFORMATION Community Established 1980 Legal Nature: Unincorporated Association Constitution Adopted 20 September 1980 Constitution Amended September 1997, February 1999 and June 2012 Charity Registered 23 February 1981 Registered Number 5110761England and Wales} Trustee Board as at the date of the Report All served for the entire period from 1 January 2023 to the date of this report unless otherwise indicated. (a) Executive Committee Nehal Mehta (President) Mr Nitesh Shah{Vice President) Mr Hiren Vora (Secretary) Mahul Mehta(Joint Secretary) Falguni Mehta (Treasurer) Mrs Jyotsna Patel (Religious Secretary) (b) Other Trustees Piyush G Mehta Dipesh Mehta Mrs Saroj Patel Mr Pinal Shah Mr Kiran N Mehta Mr Sailesh Mehta Building Trustees: Hiren Vora Suresh Mehta Kiran N Mehta Ajay Patel Nimesh Patel Naren Shah Sukan Shah Charity Office Flat 2 8 Carrwood Road Bramhall, Stockport SK7 3GR Principal Establishment 669 Stockport Road Longsight, Manchester M12 4QE Bankers A) Bank of India 182 Soho Road, Handsworth Birmingham B219LP 8) Lloyds Bank Honorary Independent Examiner D. Chothani clo DBF Associates South Cheetham Business Centre 10 Park Place Manchester M4 4EY Page 1
JAIN SAMAJ- MANCHESTER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their report along with the financial statements of the charity for the year ended 31 December 2023. This report is prepared in accordance with the Association's constitution and the Charities SORP (FRS 102) - Update Bulletin 2 issued in October 2018. Objects The trust deed defines the charity's objects as being: 1 To promote and advance the Jain Religion. 2 To provide appropriate facilities for religious worship, to celebrate religious festivals and to organise meetings and lectures. 3 To educate the children of members in the Jain Religion and their mother tongue. 4 To provide relief for the followers of the Jain Religion who are in necessitous circumstances. 5 To promote the benefit of the local communities in Manchester regarding social welfare, recreation and other leisure activities. 6 To promote any charitable purpose throughout the world. Public Benefit The trustees believe that, in providing the various religious events during the year free to all participants, they are fulfilling their public benefit obligations as required under Section 4 of the Charities Act 2011 and the subsequent guidance published by the Charity Commission. Organisation The members of the community elect a trustee board at the Annual General Meeting each year. The boar¥ ,consists of fifteen members, as listed on page 1. In turn, the board elects an executive committee comprising the honorary officers of the trust and also listed on page 1. The committee as a whole has the responsibility to manage the day-to-day operations of the charity and its activities. It manages the charity collectively by holding regular meetings throughout the year. The committee as a whole manages the risks to which the charity is exposed collectively. Suitable controls and procedures have been implemented to mitigate these risks. The charity's buildings have seven titleholders, comprising the seven individuals named on page 1. None of the so-called building trustees plays any part in the actual management of the charity. Achievements The charity provided weekly religious services in the year, subject to the Government's Covid 19 restrictions. In addition, the various festivals were celebrated with enthusiasm by the community. again subject to the above restrictions. Page 2
JAIN SAMAJ- MANCHESTER REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Financial Review In respect of the association's unrestricted funds, a surplus of £41,175 was achieved for the year. In respect of the association's restricted funds a surplus of £106,798 was achieved for the year. In addition, the Executive Committee is pleased to be able to report that the charity received a refund of £6,606 in respect of prior years, water charges. Future Plans The trustees anticipate the further development of the structural facilities just as soon as funds permit, in addition to the provision of extra facilities within the existing structure. The trustees are also giving serious consideration to the conversion of the charity from a charltable trust to a charitable incorporated organisation (CIO) now that the statutory powers are available. Reserves Policy The charity's free reserves amount to £118,386. These represent over two years unrestricted expenditure. The trustees. target is to hold sufficient free reserves to be able to cover twelve months unrestricted expenditure in a normal year. Investment Policy All liquid assets of the trust are invested in fixed deposits and risk -free investments. Trustees, Declaration In accordance with charity law, as trustees, we certify that:. So far as we are aware, there is no relevant financial information of which the charity's Independent Examiner is unaware. We have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant financial information and to establish that the charity's independent examiner is aware of that information. Independent Examiner Devshi Chothani, Chartered Accountant, was appointed as the independent examiner of the association during 2008 and he has expressed his willingness to continue in that capacity. Approval of the Report This report has been prepared in accordance with the Charities SORP (FRS 102) -update Bulletin 2 issued in October 2018 and the Charities Act 2011. It was approved by the trustees on 5th June 2023 and is signed on their behalf by:. Hiren Vora President) and Falguni Mehta (Treasurer). Date: Page 3
JAIN SAMAJ- MANCHESTER YEAR ENDED 31 DECEMBER 2023 Trustees, responsibilities in relation to the Financial Statements The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the charity's financial activities during the year and of its financial position at the year end. In preparing those financial statements, the trustees are required: to select suitable accounting policies and then apply them consistently¥ to make judgements that are reasonable and prudent; to state whether applicable accounting standards and statements of recommended practice have been followed subject to any departure disclosed and explained in the financial statements; and to prepare the financial statements on the on-going concern basis unless it is inappropriate to presume the charity will continue in business. The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and other irregularities. In respect of the independent examination, the trustees have a responsibility to ensure that they take all steps necessary in order to make themselves aware of any relevant information and to establish that the independent examiner is aware of that information. Page 4
INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF JAIN SAMAJ - MANCHESTER (CHARITY NUMBER 511076 ENGLAND AND WALES) FOR THE YEAR ENDED 31 DECEMBER 2023 Independent Examlner's Report to the Trustees on the Financial Statements I, Devshi Chothanl, report on the Financial Statements of the charity for the year ended 31 December 204 as Set out on pages 6 and 7 together with the notes on pages 8 to 14. Respective responsibilities of the Trustees and the Examiner The charity's trustees are responsible for the preparation of the Financial Statements. charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility as the Independent Examiner: to examine the Financial Statements under section 146 of the Charities Act; to follow the procedures laid down in the General Directions given by the Charity Commission (under section 14515)(b) of the Charities Act); to state whether particular matters have come to my attention. Basis of the Independent Examiner's statement My examination was carried out in accordance with the General Directions given by the Charity Commission. An examinatlon includes a review of the accounting records kept by the charity and a comparison of the Financial Statements presented with Ihose records. It also includes consideration of any unusual items or disclosures in the Financial statements and seeking explanation from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the Financial Statements present a "true and fairf, view and the report is limited to those matters set out in the statement below. Independent Examlnerfs statement In connection with my examination no material matters have come to my attention which gives me cause to believe that, in any material respect, the accounting records were not kept in accordance with section 130 of the Charities Act; or the Financial Statements did not accord with the accounting records; or the Financial Statements did not comply with the applicable requirements concerning the form and content of Financial Statements set out in the Charities (Accounts and Reports) Regulations 2008, other than any requirement that the Financial Statements give a "true and fai¢. view which is not a matter considered as part of an independent examination. I 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. Date . DEVSHI CHOTHANI Chartered Accountant Director of DBF Associates Ltd 10 Park Place Manchester M4 4EY Page 5
JAIN SAMAJ - MANCHESTER STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Restricted Funds Funds 2022 Total Total Notes Incoming Resources from: Charitable Actlvities 5,316 Other Sources 162,081 162,081 Total Incoming Resources 162,081 167 397 Resources Expended on: Raising Funds Charitable Activities 161,008 96,115 267,123 Total Resources Expended 161,008 96,115 257,123 Exceptional Item (Receipt) Net Incoming Resources 89,726 Transfer between Funds Net Incoming Resources after Transfer 89,726 Totsl funds at 1 January 2023 70,605 1,654,432 1,725,037 Total funds at 31 December 2023 93,808 1,720,955 1,814.763 Page 6
JAIN SAMAJ- MANCHESTER BALANCE SHEET AS AT 31 DECEMBER 2023 Unrestricted Funds Restricted Funds Total Notes ED ASSETS Tangible Fixed Assets 1,693,566 1.693,566 cu REN ASSETS Cash at Bank & In Hand 278,527 62,468 330,995 TOTAL ASSETS 278.527 1,746,034 2 024,661 ESS: URR ABILITI 12 323 323 ME UM BILIT ES Loans NET ASSETS 278.204 1,761,230 2,024,238 UNRESTRICTED General Fund UNDS 105,550 106,550 Designated Fund 11.073 11,073 Total 116,623 1,761,230 117,623 STRICTED FUNDS Building Fund 10 1,843,730 1.843,730 Jiv Daya Fund 10 4,366 4,365 Educatlon Fund 10 646 646 Arhat Touch Fund 10 4,347 4,347 Dev Dravya 10 24,146 1.877,234 24116 1,877,204 Total 116623 Appro by the Trustees on 5th June 2023 and Signed on their behalf Nehal Mehta (President) Falguni Mehta (Treasurer) Page 7
JAIN SAMAJ- MANCHESTER YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS 1 Accounting Conventions 1.1 BASIS OF PREPARATION The Financial Statements have been wepared under the historical cost convention and in accordance with the Charities (Accounts and Reports) Regulations 2008, the Charities Act 2011 and the Charities SORP {FRS 102) - Update Bulletin 2 issued in October 2018. 1.2 GOING CONCERN CONCEPT The Financial Statements have been compiled on the assumption that the charity will be a going- concern for at least twelve months from the date of this report. 1.3 SOFA MINOR MODIFICATION The trustees have opted to modify the SOFA slightly by grouping all incoming resources, other than those derived from Charitable Activities, under the generic heading "Other Sources" in order to avoid any potential confusion that could arise from the use of the heading "Donations and Legacies" 2 Accounting Policies 2.1 INCOME a) Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. The value of services provided by volunteers has not been included. b) Grants, including any grants for the purchase of fixed assets, are recognised In full in the Statement of Flnancial Activities in the year in which they are receivable. 2.2 EXPENDITURE a) Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT wh•ch cannot be recovered. b) Resources expended are allocated to Ihe particular activity where the cost r•late8 directly to that activity. c) The trust only incurs governance costs in respect of legal costs associated with either the constitutlon or the title deeds to the property. 2.3 ASSETS a) Expenditure on fixed assets above £500 is capitalised. Despite all expenditure having been funded entirely from restricted funds, depreciation is charged according to standard accounting practice on the following basis:. Freehold Land Long Leasehold Land Freehold Building (Hall) Freehold Building (Annexe) Building Improvements Furniture & Fittings Sports Equipment Not depreciated 50 year life from January 2018 50 year life from October 2002 50 year life from April 2020 20 year life from execution 10 year life from acquisition 4 year life from acquisition b) Development expenditure is capitalised as and when it is incurred. Depreciation thereon is only charged, however, on the completion of the associated capital project. 2.4 FUNDS a) Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds. b) Designated funds are unreslricted funds which have been specifically earmarked by the executive committee for particular purposes. c) Restricted funds are funds to be used for specific purposes as laid down ebther by the donor or by the temis of the appeal. Expenditure which meets these criteria is charged to those funds. Page 8
JAIN SAMAJ- MANCHESTER YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS UNRESTRICTED FUNDS General Designated Fund Funds RESTRICTED FUNDS TOTAL OVERALL TOTAL 2023 TOTAL Total NOTE 3 INCOMING RESOURCES FROM CHARITABLE ACTIVITIES Diwali Cultural Programme NOTE 4 INCOMING RESOURCES FROM OTHER SOURCES 4.1 From Members: Membership Subscriptions 11,095 11,095 11,096 Donations 34.174 34174 34,174 Gift Aid Total 45.269 11,095 34.174 46,269 4.2 Fundraising Event12019) 4.3 Sale of Electricity 3.819 3,819 3,819 4.4. Hall Hire 82,054 82,054 82,064 4.5 Annexe Hire 27,940 27.940 27,940 4.6 Miscellaneous Income 16 15 16 4.7 Bank Interest Received 2,984 2,984 4.8 Covid 191Furlough Grant Rec'( Total 113,828 113,828 2,984 116,812 OVERALL TOTAL 159,097 124,923 37,158 162,081 NOT RESOURCES EXPENDED ON RAISING FUNDS Cost of Covld 19 grants applications Residual C08t of Staglng 2019 Event Page 9
JAIN SAMAJ- MANCHESTER YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS UNRESTRICTED FUNDS General Designated Fund Funds RESTRICTED FUNDS TOTAL OVERALL TOTAL 2023 TOTAL Total NOTE 6 RESOURCES EXPENDED ON CHARITABLE ACTIVITIES 6.1.1 Direct Charitable Expenditure Fittings and Fixture Prasad Expenses Jiv Daya Donalions Mahila Mandal Youth Expenses Arhat Touch Expenses Education (GNAN) Diwali Cultural Programme Dev DRAVYA 21367 36,464 21367 36,464 21367 36,464 12,697 2,059 1,888 602 2,302 1,842 500 8,136 12,697 2,069 2,059 1,888 602 1,888 602 2,302 1,842 600 600 Total 8,136 16,841 39,625 1,888 41,513 6.1.2 Facilities Support Costs Alami & Fire Service Caretaking and Security Cleaning and Waste Disposal Light & Heat Repairs and Maintenance Rates & Water Insurance 7505 37.475 6,608 32,700 30.518 5.350 4,979 117,630 7505 37,475 6.608 32,700 7505 37,475 6,608 32,700 30,518 6,350 4,979 126,136 30,518 5.350 4,979 87,112 Total 30,518 6.1.3 Administratative Support Costs Travel Expenses Telephone, Postage & Stationery Website Expenses Bank Charges General Expenses 4,178 475 4,178 475 4178 475 108 27.622 32.383 108 27,622 32,383 108 27,622 32,383 Total 6.1.4 Depreciation Freehold Buildings - Hall - Annexe Long Leasehold Land Building Improvements Fixtures and Fittings Total 17625 18337 769 2555 9470 48756 17,625 18,337 769 2,555 9,470 48,756 17,625 18,337 769 2,555 9,470 48,756
Part year only
.1 TOTAL 189,638 50,644 161,008 96,115 294,131 NOTE 6.2 EXCEPTIONAL ITEMS Water Charges Refunded Long Leasehold Land ## OVERALL TOTAL
2018 and 2019 Depreciation
48,201 1,097 48.523 59,141 108,064 Page 10
JAIN SAMAJ- MANCHESTER YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS NOTE 7 TRANSFER BETWEEN FUNDS This transfer of £90,717 represents 50Qh of the income derived from hire of the Hall1£68,663) and 760 Irom hire of the Annexe,1£22,064) previously agreed to be allocated to the building fund from the general fund. NOTE FIXED A SET 8.1 LAND AND BUILDINGS Fieehold Long Leasehold Land Land (As per Note 8.21 Bulldlng Improvements {Ant)exe Total Cost At 1 January 2023 190,000 38,440 881,265 916,864 51,092 2.077,661 AddStions in year At 31 December 2023 190,000 38,440 881,265 916,864 51,092 2,077,661 Depreciation At 1 January 2023 3.845 356,909 50,427 33,437 444,618 Charge for year 769 17,625 18,337 2,555 39,286 At 31 December 2023 4,614 374,534 68,764 35,992 483,904 Net Book Value 31 December 2023 190,000 33,826 506,731 848,100 15,100 1,593,757 1 January 2023 190,000 35,364 541,981 884.774 20,210 1,672,329 8.2 LONG LEASEHOLD LAND This land is held by the charity on a lease for 125 years from 2017, at a ground rent payable of £100 p.a. Page11
JAIN SAMAJ- MANCHESTER YEAR ENDED 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS NOTE 8 FIXED ASSETS C NTINUED 8.4 SUMMARY Land & Buildings Total (As per Note 8.1) Furniture & Fittings Sports Equipment Total Cost At 1 January 2023 2,077,661 73,335 1,962 2,152,958 Additions in year 21,367 21,367 At 31 December 2023 2,077,661 94,702 1,962 2,174,325 Depreciation At 1 January 2023 405.322 73,466 1,961 480,759 Charge for year 39,286 9,470 48,756 At 31 December 2023 444,608 82,936 1,961 529,515 Net Book Value 31 December 2023 1,672.329 21,236 1,693,565 1 January 2023 1,711,615 9,339 1,720,955 Page 12
JAIN SAMAJ- MANCHESTER YEAR ENDED 31DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS NOTE 9 MOVEMENT IN UNRESTRICTED FUNDS Transfer to Restricted Fund Funds Blfwd Incoming Total 0110112023 Resources Resources Funds Clfwd 3111212023 Resources Expended Designated Funds: Mahila Mandal 11,389 1,572 12,961 1,888 11,073 General Fund 112,647 164,322 276,969 170,419 106,550 Total 124.036 165,894 289,930 172,307 117,623 NOTE 10 MOVEMENT IN RESTRICTED FUNDS Funds Blfwd Incoming Total 0110112023 Resources Resources Funds Clfwd 3111212023 Resources Expended Minor Funds: Jiv Daya Fund 4,449 12,613 17,062 12,697 4,366 Education Fund 1,777 711 2,488 1,842 646 Arhat Touch Fund 4,954 1,695 6,649 2,302 4,347 Dev Dravya 11867 2041S 32282 8136 24146 Sub Total Major Funds: 23,047 35,434 58,481 24,977 33,504 Building Fund 1.802,335 68,118 1,870,453 26,723 1,843,730 Total 1,825,382 103,552 1.928,934 24,977 1,877.234 Page 13
JAIN SAMAJ - MANCHESTER YEAR ENDED 31DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS NOTE 11 ANALYSIS OF NET ASSETS TO FUNDS BALANCE SHEET TOTAL UNRESTRICTED FUNDS RESTRICTED FU DS General Designated # Building Minor Funds Net Fixed Assets 1,679,985 1,679,985 Bank Deposits (A) 251,903 210,508 41,395 Bank Current Account (A) 67,566 67,566 Bank Current Account (B) 11,031 11,031 Paypal 443 443 Cash in Hand 52 10 42 Sub Total 2,010,980 278,527 11,073 1,721,380 Less: Current Liabilities (See Note 12) 323 323 NET ASSETS 2,011,303 278,850 11,073 1,721,380 ANK ACCOUNTS KEY MINOR FUNDS KEY (A) BANK OF INDIA
MAHILA MANDAL FUND
(B) LLOYDS BANK * JIV DAYA, EDUCATION (GNAN) AND ARHAT TOUCH FUNDS NOTE 12 CURRENT LIABILITIES Amounts Owing to Other Charities NHS Sadhamik Heroes 2022 Total 2033 Total Brought Forward Received in Year Total Due Less: Paid Over in Year 323 597 5,070 5,667 -6,344 323 Amounts still owing at year end 323 323 NOTE 13 OPERATING SURPLUS The Restricted Funds operating surplus of £126.798 was after charging £40,970 depreciation on fixed assets. There was no depreciation charged against the Unrestricted Funds operating surplus. Page 14