CHARITY REGISTRATION NUMBER: 516936 Hindu Cultural Society Unaudited Financial Statements 31 December 2024 GENERAL & MEDICAL ACCOUNTANTS LIMITED Chartered Accountants The Wedgwcod Big House 1 Moorland Road Stoke on Trent Staffordshire ST6 1DJ
Hindu Cultural Society Financial Ststements Year ended 31 December 2024 Page Trustees, annual report Chartcrcd accountants report to Hindu Cultural Society on the unaudited financial information Statement of financial activities Statement of financial position Notes to the financial statements The following pages do not fomi part of the financial statements Detailed staternent of financial activities 17
Hindu Cultural Society Trustees. Annual Report Year ended 31 December 2024 The trustees present their report and Ihe unaudited financial statements of the charity for the year ended 31 Dember 2024. Reference and administrative details Registered charity name Hindu Cultural Souety Charlty reglstratlon number 516936 Principal office Hindu Cultural soety 115 Keelings Road NorthwocKJ Stoke•on-Trent Staffordshire The trustees U Tiguti AG1 C Cheruvu A K Garlapati R Rajan M Annappa M Parekh A¢¢ountsnts General & Medical Accountants Limtted Chartered Accountants The Wedgwood Big House 1 Moorland Road Stoke on Trent Staffordshire ST6 1DJ
Hindu Cultural Society Trustees. Annual Report {¢¢)ntlnuedJ Year ended 31 December 2024 structure, governance and management Since the acquisFtion of Hindu Temple and Cultural centre at Keelings Road. Stoke-on-Trenl as the centre for delivering the charitys activities. all necessary policies for safety. govemance, recruttment. maintenance, organisational reslructuring and sub committees were put in place in October 2016 in accordance with society's constitution. Temple sub committee was formed with Bye-Laws enacted for day to day activities of temple and cturaL ntre. This mmIttee reports dIrecY to tho Hindu Cultural societys Trust Board. Structure: (1) The charity and tts propety shall be managed and administered by a comTnittee comprising the officers and other members elected in accordance with the ety'S conststution. The Offir$ and other members of the committee shall be the trustees of the Charity and in the society's constituti are together called 'the trustees,. (2) The charity shall have the following officers: {a) A Chair, {bl A Secretary, (c) A Treasurer. (3) A trustee must be a member of the charity or the nominated representative of an organisation Ihat is a member of the charity. (4) No one m8y be appointed a trustee if he or she would be disqualified from acting under the provisions of clause 20 of the society's conslitutions. {51 The maximum number of truslees will be eleven and the minimum nun*)er will be three (unless otherwise determined by a resolution of the charity in general meeting). (6} A trustee may not appoint anyone to act on his or her behalf at meetings of the trustees.
Hindu Cultural Society Trustees. Annual Report (conun Year ended 31 December 2024 Objectives and activities Objectives.. 1. To promote the principles and practices of Hindu religion. with acttptance and toleran. to all faiths and religions. 2. To set-up and maintsin a community centre and temple in Stsffordshire. 3. To actively encourage, faGilitate and promote cultural, educational and social recreation of its members with a view of advancement of education in Hindu philosophy, literature, history. music and art. 4. To nurture and foster Hindu cutture and traditions and lebte its diversity. 5. To support rnembers in understanding their identity and encourage better integration with the wider community. 6. To enhance social contact. reduce isolation, promote hearthy lifestyle. Activities: 1. Running of the temple for relJ10uS aclivities. 2. Celebration of Hindu festivals. 3. Conducting Cuttural activilies. 4. Education and tranlng activilies induding dan. music and drama. All activities are open to general public and communty. and Hindu Cutbjral Socaety has always abided by the charity commissions guidance for public berfIt. Achievements and perfomiance Hindu Cultural Society has continued to celebrate various festivals and brought together the whole community for these activities, wth a lot of sharing of culture and values. More fundraising events have taken place during this year compared to the previous few years as we retum to normal life following the pandemtc. Flnancial review Hindu Cultural Soctety has in prinpIe delegated a saving5 account for holding at least a sum of £20.000 as reserye mnies for emergenues (this sum has been held successfully for last four years). The rest of the capital, expenses and investments are documented in the current finanaal statements for the year.
Hindu Cultural Society Trnstees. Annual Report <aonthiwdJ Year ended 31 Decèmber 2024 The trustees, annual rewt Was approved on 6 Odobar 2025 and signed on behalf of the board of trustees by: K Garlapati Tfustee
Hindu Cultural Society Chartered Accountants Report to Hindu Cultural Society on the Unaudited Financial Information of Hindu Cultural Society Year ended 31 December 2024 As described on the ststement of financtal posttion. the trustees of the tharity are responsible for the preparation of the financial statements for the year ended 31 December 2024, which (x)mprise the ststement of financial activities. statement of financial F*)Srtion and the related notes. You consider that the charity is exempt from an audit under the Charities Act 2011. In accordance with your instructions we have cornpiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from infomiation and explanations supplied to us. GENERAL & MEDICAL ACCOUNTANTS LIMITED Chartered Accountants Th8 Wedgwood Big House 1 Moorfand Road Stoke on Trent Staffordshire ST6 1DJ
Hindu Cultural Society ststement of Financlal ActlvEties Year ended 31 December 2024 2024 2023 Unrestricted funds Totsl funds Totsl funds Nole Income and endowrnents Donations and legacies Other trading activities Investment income other income 92.982 92.982 23.046 22.001 313 1,317 392 1.604 392 1,604 Total Income 99.443 99.443 46.677 Expendlture Expendrture on raising funds: Costs of raising donations and g8cleS Costs of other trading activities Expenditure on charitsble aGtiwties Total expendltu 1,380 4,186 25,001 1,838 30,386 1.838 30,386 32,224 32,224 30,567 Net Income and net movement In funds 67.219 67,219 16,110 Reconclllallon of funds Totsl funds brought forward Total funds Garried forward 352,074 352,074 335.964 419,293 419,293 352,074 The statement of financial activities indudes all gains and losses regnised in the year. l income and expenditure derive from continuing activities. The notes on pages 8 to 15 form part of thgstr financlal statements.
Hindu Cultural Society Statement of Financial Position 31 December 2024 2024 21Y23 Flxed assets Tangle fixed a&8ets 11 334.886 291,026 Currènt assets Debtors Cash al b8nk and in hand 12 16,6W 68,611 85,211 8.00 53,852 61.852 CreditOT5: amownts falling due wllhin one year Net current a55ets 13 804 84,407 61.048 Total assets less currpnt Ilablll¢los 419.293 419.293 352.074 Net assets 352.074 Funds of the chafity Unrestricted funds 419293 41293 352.074 Totsl charity funds 14 352,074 Ttwe fmncial statements were approved by the boafd of twstees and 8uthorised for issue on 6 00r 2025. and a signed on behaf ol Ihe board by. U rUl1 K Garfapali Th9 nolos on pa9K 8 to 15 foffli part of th ftnaftclat statmnt&
Hindu Cultural Society Notes to the Financial Statements Year ended 31 December 2024 General Infonnatlon The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The adsS of the principal offi(* 1$ 115 Keelings Road, NorthwocKI, Stoke-On-Trent, Staffordshir8. ST1 6PA. Statement of compliance These financial ststements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and Ihe Republic of Ireland,. the Statement of Recornmended Pradice applicable to charities preparing their accounts in accordance with the Flnancial Rewrting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. Accountlng policles Basis of preparallon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the fijnctional currency of the entity. Golng concern There are no material uncertainties about the charty's ability to Gontinue. Disclosure exemptions The charity satisfies the criteria of being a qualifying enttty as defined in FRS 102. As such. advantage has been tsken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statemont has been presented for the chaiity.(b) Disclosures in respecl of financial instruments have not been presented.
Hindu Cultural Society Notes to the Financial Ststements (Oyrfbl(dJ Year ended 31 December 2024 A¢¢ounllng pollcles (conthi Judgements and key sources of estlmatlon uncertainty The preparation of the financial ststements requires management to make judgements. estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors. induding expectations of future events that are believed to be reasonable under Ihe circumstances. Signrficant judgements No significant judgements (apart from those involwng estimations) has been made by management in the process of applying the entity's accounting poliaes. Accounting estimates and assumptions are made conceming the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significanl risk of causing a material adjustment to the carrying arnounts of assets and liabiltties within the next financial year are as follows-. Freehold property - no depreciation has been provided as ,in the opinion of the trustees. the carying value of the freehold property will be equal to at least its cuent present value. Fund accounting Unrestrcted funds a avalble for use at the discretion of the trustees to further any of the charity's purposes. Designaled funds are unrestricted funds earmarked by the trustees for particular future project or commitrnent. Restricted funds are subjected to restrtctions on their expendilure declared by the donor or through Ihe temis of an appeal, and fall into one of two sub-classes- restricted income funds or endowment fijnds.
Hindu Cultural Society Notes to the Financial Statements {coftllnued) Year ended 31 December 2024 Accounting pollcles (wKrtlnu•d) Incoming resources All incoming resources are included in the statement of financial activitses when entitlement has passed to the charity; it is probable that the econoTlliC benefrts associated with the transactio will flow to the charity and the amount can be llabty measured. The following spectfic policies are applied to particular categories of income: income from donations or grants ts recognised when there is eviden of entitlement lo the gift, receipt is probable and its amount can be measured reliably. legacy income is reCgniSed when reIpt is probab and entitlement is established. income from donated gcK)ds is measured at the fair value of the goods unless this is impractical to measure reliably. in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilibes and services are recognised in the aixount5 when reiVed if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is dassified as unrestricted funds unless there is a contractual requirement for tt to be spent on a particular purpose and retumed if unspent. in which case it may be regarded as restricted. Resources expended Expendtture is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is classFfied under headings of the ststement of financial activities to which it relates: expendtture raising funds includes the costs of all fundraisirKJ activities. events, non-charitale trading activities, and the sale of donated goods. expenditure on charitsble actimtles indudes all costs incurred by a charity in undertaking actimttes that further its charitable aims for the benefit of its beneficiaries, including those SUPPOrt costs and costs relating to Ihe govemance of the charity apporboned to ¢haritabSe activities. other expenditure indudes all expenditure that is neilher related lo raising funds for the charity nor part of its expenditure on charitable activities. Ail costs are allocated to expenditijre categories rellecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activty. Shared cSIS are apporttoned belN4een Ihe activities they contribute to on a reasonable. justifiable and consistent basis. 10
Hindu Cultural Society Notes to the Financial Statements (ntInued) Year ended 31 December 2024 Accounting policies {conllnu) Tanglble assets Tangible assets are initially recorded at Cost. and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the G3frytng amount of an asset as a result of a revaluation. is recognised in other recognised gains and losses, unless tt reverses a charge for impaimient that has previously been recognised as expendf(ure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses. except to which it offsets any previous revaluation gain, in vh]ich case the loss is shown within other recognised gains and losse5 on the statement of financial acttvities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an assel. less its residual value, over the useful economic lrfe of that asset as follovts: Fixtures and fittings 20% straight line Impaimient of flxed assets A review for indicators of impairment is Caled out at each reporting date. with the recoverable amount being estimated where such indicators exist. Where the carying value eXedS the recoverable amount. the asset is impaired accordingly. Prior impaimients are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing. when it is not possible to estimate the recoverable atTK)unt of an individual asset. an estimate is made of th8 recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identffiable group of assets that includes the asset and generates cash inflows that Largely independent of the cash infiows from other assets or groups of assets. For impairment testing of go(xlwill, the g(x)dwill acquired in a business combination is, from the acquisition date. allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination. irrespective of whether other assets or liabillties of the charity are assigned to those units. FlnancSal Instruments A financial asset or a financial liakn'lity is recognised onty en the charty becomes a paty to the contractual provisions of the instrument. Basic financtal instruments are initsally recognised at the amount receivable or payable induding any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or reprfed and not discounted. 11
Hindu Cultural Society Notes to the Financial Statements (¢¢JnthJu Year ended 31 December 2024 Accountlng pollcies (eontlnued) Financial Instruments (¢onllnu8d) Debt inslruments are subsequenty measured at arnortised cost Where investments in shares are publicty traded or their fair value can otherwise be measured ieliably. the inve5trrtent is subsequently measured at fair value wrth changes in fair value recognised in income and expenditure. Al other such investrnents are subsequenly measured at st les5 impaimient. Other financial instrjments, including derivatNes. are initially recognised al fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financrdl instruments are subsequenty measured at fair value, with any changes recognised in the stalemenl of financial actiV[t$. with the exception of hedging instruments in a designated hedging relats'onship. Financial assets that are measured at cost or amorbsed cost are reviewed for objective eviden of impairrnent at the end of each reporting date. If there is objective evidence of impaiment, an impainnent loss is reccNJnised under the appropriate heading in the stalement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significan. and other financial assets that are individually significant, these are assessed indivtdually for impairment. other financial assets are either assessed individually or grouped on the basis of similar credtt risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not resu5t in a carrwng amount of the finan(ial asset that exceeds what the carying amount woukj have been had the impaimient not previously been recognised. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Individual donati¢y)s 92.982 92.982 23,046 23,046 Other trading actlvlties Unrestricted Totsl Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 FurKlraising events 4,465 4,465 22.001 22.001 12
Hindu Cultural Society Notes to the Financial Statements (eonlwnu•dJ Year ended 31 December 2024 Investment Income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest re1Ve 392 392 313 313 Other income Unrestricted Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Hall hire 1,604 1.317 1.317 Net income Net income is stated after chargin[Crediting). 2024 2023 Depreciation of tsngible fixed assets 3.021 3,281 Staff costs The total staff costs and employee beneffts for the rew)rting period are anatysed as follows: 2024 2023 Wages and salaries 1,200 The average head count of empk)yees during the year was Nil (2023: 1). No employee rec£Ned employee benefits of more than £60,OCQ during the year {2023: Nil). 10. Trustee remuneration and expenses No remuneratton or other beneffts from employment with the charity or a related entity were reiVed by the trustees. 13
Hindu Cultural Society Notes to the Financial Ststements (ththued) Year ended 31 December 2024 11. Tanglble fixed assets Freehold Fixtures and property ffttings Total Cost At 1 January 2024 Additions 283.537 46,881 55.239 338.776 46,881 At 31 December 2024 330,418 55,239 385,657 Depreciation At 1 January 2024 Charge for the year At 31 December 2024 47,750 3,021 47,750 3,021 50.771 50,771 Carrylng amount Al 31 December 2024 330.418 4,468 334,886 At 31 Dernber 2023 283.537 7,489 291,026 12. Debtors 2024 2023 other debtors 16,600 8,000 13. Creditors: amounts falling due within one year 2024 2023 Accruals and deferred income 804 804 14. Analysls of charitable funds Unrestrlcted funds At 1 January 2024 At 31 December 2024 Income Expendf(ure General funds 352,074 99.443 (32,224) 419.293 At 1 January 2023 At 31 December 2023 Income Expenditure General funds 335,964 46,677 (30.567) 352,074 14
Hindu Cultural Society Notes to the Financial Statements (¢onthiued) Year ended 31 December 2024 l & Analysis Of net assets between funds Unrestricted Total Funds Funds 2024 Tangible fixed a&sets Current assets Creditors less than 1 year Nel assets 334.885 82.412 (804) 416,493 334.885 82.412 (8041 416,493 Unrestrtcted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 291.026 61.852 (804) 352.074 291,026 61.852 (804) 352.074 15
Hindu Cultural Society Management Infonnation Year ended 31 December 2024 The followlng pages do not forni part of the financlal statements. 16
Hindu Cultural Society Detailed Statement of Financial Activities Year ended 31 December 2024 2024 2023 Income and endowments Donations and legacies Individual donations 92,982 23,046 Ollier trading activilies Fundraising events 4,465 22,001 Investment income Bank interest received 392 313 Other income Hall hire 1.604 1,317 Total Income 99,443 46.677 Expenditure Costs of ralslng donatlons and legacies Wages and salaries Subscriptions 1.200 180 1,380 Costs of other tradlng actlvltles Purchases Other establishment 1,494 3,440 746 1.838 4,186 Expendlture on charltable actlvltles Rates and water Light and heat Repairs and mainlenan Insuran Legal and professional fees other office costs Depreciation 581 1.469 19,507 704 2.042 14,527 839 3.212 396 3,281 4.736 128 3,021 30,386 25.001 Total expendlture 32,224 30,567 Net income 67,219 16,110 17