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Hindu Religious Association Leamington and Warwick
10B High Street, Leamington Spa CV31 3AN Charity Number: 512968
REPORT AND FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31ST DECEMBER 2023
| INDEX | Page | |
|---|---|---|
| Legal and Administrative information | 1 | |
| Trustees Report forthe FinancialYear Ended 31 December 2023 | 283 | |
| Independent Examiner's Report | 4 | |
| Income and Expenditure Statement forthe Financlal Year Ended 31 December2023 | 5 | |
| Balance Sheet at 31.12.2023 | 6 | |
| NotestotheFinanciatStatements | 7 |
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Hindu Religious Association Leamington and Warwick
10B High Street, Leamington Spa CV31 3AN
Charity Number: 512968
Report and Financial Statements for the Financial Year Ended 318t December 2023
LEGAL AND ADMINISTRATIVE INFORMATION
Holding Trustees
Gian Kanwar Baldev Manan
Executive Committee Members_
Dharam Veer Awesti Chairman Vikas Aggarwal Secretary Brijinder Kumar Gupta Treasurer Chander Deep Sahipall Rajinder Pal Sharma Vijay Choudhury Naveen Tangri
Charity Registered Address
108 High Street Leamington Spa CV31 3AN Warwickshire
Independent Examiner
Accountability (PSM) Ballicom House 101 Lockhurst Lane Coventry CV8 5SF
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Hindu Religious Assoclation Leamington and Warwick
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10B High Street, Leamington Spa CV34 3AN
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Charity Number: 512968
Trustees Report for the Financial Year Ended 31st December 2023
The Association is a registered Charity established for the advancement of the Hindu Religion in Leamington Spa and Warwick by provisions of education in the principles of Hindu faith and by such other Charitable means that the Executive Committee shall think fit and for the relief of poverty among members of the Association.
The affairs of the Charity are administered in accordance with its constitution / governing document by the Executive Committee of managing trustees comprising of nine (9} members inctuding three (3) office bearers elected for a two years term at its Annual General Meeting. The Executive Committee of managing trustees of the Association meet at least six times a year
Under the provision of the Constitution / Governing documents there is provision for 5 Custodians / Hokiing trustees who hold property of Association in their name and are appointed by the Executive Committee of managing trustees for term of 2 years. Both the managing trustees and custodian trustees are eligible for reappointment/ reselection after expiry of 2 year term.
The Trustees present their report along with the financial statements of the Charity for the financial year ended 31" December 2023. The trustees have adopted the provision of Accounting and Reporting by Charitles: Statement of Recommended Practice applicable to charitias preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Our reserves policy reflects our wish to ensure financial stability from which we can grow and develop our objectives and activities.
The trustees have a risk management strategy which comprises:-
An annual review of the risks which the Association may face.
The establishment of systems and procedures to mitigate those risks identified.
The implementation of procedures designed to minimise any potential impact on the Association/Charity should those risks materialise.
Significant activities, achievements and performance During the year, the charity has continued to hold various fundraising events and, along with the donations received has been able to accumulate a significant surplus for the development of a new Temple through Shree Krishna Resource Centre of Leamington and Warwick.
Public benefit
The Trustees confirm that they have complied with their duty under Section 4 of the Charitles Act 2011 to have due regard to the Charity Commission's general guidance on public benefit.
Volunteers
The charity does utilise volunteers to assist with their work.
FINANCIAL REVIEW
Financial position
The net profit for the period was £60,970, comprising total incoming resources of £84,248, and total resources expended of £23,278. The charity's total funds for the period were a surplus of £948,864.
FUTURE PLANS
During the year activities were formally transferred to its sister charity Shree Krishna Resource Centre of Leamington and Warwick.
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Hindu Religious Association Leamington and Warwick
10B High Street, Leamington Spa CV31 3AN
Charity Number: 512968
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements In accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial Statements for each financial year which give a true and fair view of the state of affairs of the charity and of the Incoming resources and application of resources, including the Income and expenditure, of the charity for that period. in preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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- observe the methods and principles in the Charity SORP; . make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis untess It is Inappropriate to presume that the charity wil continue In business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 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, Approved by order of the board of trustees on dd 4FER. 2024 and signed on its behalf by:
Dharam Veer Awesti Chairman
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Hindu Religious Association Leamington and Warwick
10B High Street, Leamington Spa CV31 3AN
Charity Number: 512968
Independent Examiner's Report to the Trustees for the financial year ended 31 December 2023
| report to the charity trustees on my examination of the accounts of Hindu Religious Association Leamington and Warwick (the Trust) for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
| report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination | have followed all applicable Directions given by the Charity Commission under Section 145(5(b) of the Act.
Independent examiner's statement
| have completed my examination. | 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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act: or 2. the accounts do not accord with those records; or
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the accounts do not comply with the applicable 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 is not a matter considered as part of an independent examination.
! have no concems 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.
Accountabllity (PSM) Ballicom House 101 Lockhurst Lane Coventry CV8 5SF
A MARCH 2024
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Hindu Religlous Association Leamington and Warwick
10B High Street, Leamington Spa CV31 3AN Charity Number: 512968
Income & Expenditure Statement For the Financial Year Ended 31st December 2023
| Notes | Y/E 31.12.2023 | Y/E 31.12.2023 | YIE31.12.2022 | YIE31.12.2022 | |
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| ; | ; | ; | ; | ;£ | ;£ £ |
| £ | £ £ |
£ | £ | ||
| INCOME | |||||
| Donations / Offerings Bank Interest Received |
76,353 7,895 |
121,520 2,625 |
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| GiftAid | - | 13,886 | |||
| 84,248 | 138,031 | ||||
| EXPENDITURE | |||||
| Wages | 5,335 | 9,400 | |||
| Light& Heat | 6,726 | 12,733 | |||
| Rates | 139 | 121 | |||
| insurance | 1,749 | 1,903 | |||
| Provisions | 6,582 | 11,357 | |||
| Repairs& Renewals | 733 | 4,208 | |||
| Telephone | 786 | 1,016 | |||
| Cleaning Charges | 867 | 1,415 | |||
| Bank Charges | 257 | 261 | |||
| Charity& Donation | - | 800 | |||
| Professional Fee | - | 7,198 | |||
| Sundries | 104 | 23,278 | 887 | 51,299 | |
| EXCESS OFINCOME OVER | EXPENDITURE | 5. __ 60,970 | “86,732. |
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Hindu Religious Association Leamington and Warwick
10B High Street, Leamington Spa CV31 3AN
Charity Number: 512968
Balance Sheet
For the Financial Year Ended 31st Decamber 2023
Notes YEE 31.12.2023 YIE 31.12.2022
£ £
FIXED ASSETS
Land & Buildings and others 3 358,202 343,128
CURRENT ASSETS
Prepayments & other Debtors 4 13,885 248,462
Building Societies 5 576,777 815,634
590,662 1,064,093
CURRENT LIABILITES + 590,662 18 1,084,077
TOTAL ASSETS £ 048,864 3 1,407,205
Represented by:
Total Reserve Fund Balance b/fwd as at 01.01.2023 4,407,205 1,320,473
General Reserve transferred to Capital Reserve
Reserve transferred to Shree Krishna Resource Centre (519,311)
Excess of income over Expenditure
for the year ended 31.12.2023 60,970 86,732
General Reserve 40,000 40,000
Genera! Reserve transferred to Capital Reserve (40,000) -
Capital Reserve 948,864 4,367,205
Total Fund Batance as at 31.12.2023 3 948,864 £ 7,407,205
HA FEB
The financial statements were approved by the Trustees on 2024
and signed on their behalf by :-
Dharam Veer Awesti
ble AS
a Aap Deathe a enn ee ee cane te ee Treasurer
Brijinder Kumar Gupta
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Hindu Religious Association Leamington and Warwick
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10B High Street, Leamington Spa CV31 3AN
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Charity Number: 512968
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For the Financial Year Ended 31 December 2023
Note
1 Basis of preparing the financial ststemens
Thebeenfinancial statements ofthe charity, which is a public benefit ermtity under FRS 102, have
by Charities:preparedStatement in accordance of Recommendedwith the CharitiesPractice SORPapplicable (FRS 102)to chavitles ‘Accountingpraparingand Reportingthelr
accountsRepubiic in accordancewith the Financial Reporting Standard applicable in the UK and
The Financial of Iretand Reporting (FRS Standard102) (effectiveapplicable1 Januaryin the 2019)', UK andFinanciatRepublic Reportingof retand’ Standardand the 102
Charities Act 2011. The financial statements have bean prepared undar the historicat cost
convention.
income
Al income |s recognised in the Statement of Financia! Activities once the charity has
entitlementbe measured to reilably.the funds, It is probablethat {he income wil be received and the emount can
Expenditure
Liablittes are recognised as expenditure as soon as there ia a legal or constructive obigation
Expenditurewilcommittingbe requiredthe charityin setiiementto thatandexpenditure,the amountit ofis probable the obligation thata can transfer be measuredof economic rekably.benefits
that aggregateis allaccounted cost retatedfor anto antheaccrualscategory. basisWhere andcosts haa beencannotclassifiedbe directly underattributedheadingsto
particularof resources.headings they have been allocsted to activities on a basis consistentwith the use
Taxation
The charity 1s exempt from tax on ita charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion
of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the
charity. Restrictions arise when apscified by the donor or when funds are raised for
particular restricted purposes.
financialFurther explanationstatements.of the nature and purpose of each fund is Includedin the notes to the
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Hindu Religious Association Leamington and Warwick
10B High Street, Leamington Spa CV31 3AN Charity Number: 512968
For the Financia! Year Ended 31 December 2023
Note
2 TRUSTEES’ REMUNERATION AND BENEFITS
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There were no trustees’ remuneration or other benefits for the year ended 31 Oecember 2023 nor for the year ended 31 Oecamber 2022.
TRUSTEES’ EXPENSES
There were no trustees’ axpenses paid for the year andad 31 December 2023 nor for the year ended 31 December 2022.
3 TANGIBLE FIXED ASSETS
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Freehold improve- Car Total
Property ments Park
£ £ £ £
Total Value b/fwd as at
01.01.2023 126,164 205,714 11,250 343,128
Disposal - - - -
Additions 16,074 - - 15,074
141,238 205,714 11,250 358,202
NET BOOK VALUE
At 31 December 2023 £ 141,238 £ 205,714 £11 250 £ 358,202
4 PREPAYMENTS & DEBTORS YE 34.12.2023 YIE 31.12.2022
£ £
Insurance Prepayment - 4,749
Gift Aid 13,885 13,885
interest accrued on deposit - 243
funds with Bank & Buitding Societies
Shree Krishna Resource Centre of
Leamington and Warwick . 232,585
£ 13,885 £ 248 462
5 Bank and Building Soctety Balances £
Virgin Money Bank Current Account 319,363 302,065
Virgin Money Bank Savings Account 148,498 147,704
Virgin Money Bank Fixed Deposit 108,917 106,001
Coventry Building Society . 259,861
€ 876,777 £8 5,631
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