Charity Registration number 700067
Hindu Cultural Society Of Cleveland
Unaudited Financial Statements
31 March 2022
## **Hindu Cultural Society Of Cleveland Financial Statements Year ended 31 March 2022**
||**Page**|
|---|---|
|Trustees annual report|1|
|Independent examiner's report to the trustees|4|
|Statement of financial activities|5|
|Statement of financial position|6|
|Notes to the financial statements|7|
|Statement of changes in equity|4|
|Notes to the accounts|5|
|**The following pages do not form part of the financial statements**||
|Detailed statemnt of financial activities|14|
|Notes to the detailed statement of financilal activities|15|
**Hindu Cultural Society Of Cleveland Trustees' Annual report**
## **Year ended 31 March 2022**
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2022.
## **Reference and administrative details**
**Registered charity name** Hindu Cultural Society of Cleveland **Charity registration number** 700067 **Principal office** 54 Westbourne Grove North Ormesby Middlesbrough TS3 6EF **The Trustees** Mr P Kumar Mr S Biswas Dr SN Roy Dr RKG Mudalagiri Dr B N Prasad Sinha Mr G Singh Mr A Verma **Bankers** Barclays Bank PLC Albert Road Middlesbrough TS1 1PR **Bankers** Co-Operative Bank PO box 48 1 Balloon Street Machester M60 1GP **Bankers** HSBC PLC Po Box 117 Albert Road Middlesbrough TS1 1RS **Independent examiner** Mr M C Thompson FCCA Thompson & Co Ltd 39b York Road Hartlepool TS26 8AH
1
**Hindu Cultural Society Of Cleveland**
## **Trustees Annual Report (continued)**
## **Year ended 31 March 2022**
## **Structure, governance and management**
## Governing document
The charity is controlled by it's governing document, a constitution , as defined by the Charities Act 2011. The charity is an unincorporated charity.
## Organisational Structure
The executive committee is responsible for the management of the charity and it's assets in furtherance of it's objects.
## **Objectives and activities**
## Objectives and aims
Advancing the Hindu religion, culture and promoting integration with other communities. Advancing the education in the Hindu tradition, history, language, literature and music. To manage a place of worship for the Hindu religion for the recitation of Hindu prayers and conduct Hindu rituals. The charity also operates a day centre for the elderly Hindu community but all other faiths are welcome.
## **Public Benefit**
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit and complied with section 17(5) of the 2011 Charities Act when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
## **Achievements and Performance**
## Achievements
The celebration of the Festival of Lights at the centre in Stockton with the collaboration of the council
Celebration of Ramayana and ShivPuja with scholars from India and daytrips were organised for visits to various temples in the UK.
## **Financial review**
It is the policy of the charity to hold sufficient funds to cover the costs of the charity for at least the next 12 months, The current reserves of the charity are more than sufficient for this requirement,
The surplus of income over expenditure for the year was £1,644 (2021: Excess of expenditure £57,954). The total reserves as at the 31st March 2022 were £555,141 (2021 £555,208). The balance of free reserves as at 31st March 2022 is £555,141 (2021: £537,071) which the trustees consider to be within their target reserves level.
The charity's investment income relates entirely to bank interest received and so the trustees do not consider that a separate investment policy is necessary.
## **Plans for future periods**
In the future the charity is looking to generate income by allowing the day centre to be used by other community service groups such as keep fit sessions, NHS health checks and other associated classes. The charity continues to raise some funds by the sale of vegetarian food.
2
## **Hindu Cultural Society Of Cleveland**
## **Trustees Annual Report (continued)**
The charity is also looking to expand the amount of volunteers it uses, to benefit of everyone who uses the day centre.
## **Hindu Cultural Society of Cleveland**
Trustees' Annual Report (continued) Year ended 31 March 2022
The trustees' annual report was approved on …........... And signed on behalf of the board of trustees by:
Mr P Kumar Trustee
3
**Hindu Cultural Society Of Cleveland Accountants' Report**
## **Hindu Cultural Society of Cleveland**
Independent Examiner's Report to the Trustees of Hindu Cultural Society of Cleveland Year ended 31 March 2022
I report to the trustees on my examination of the financial statements of Hindu Cultural Society Of Cleveland ('the charity;) for the year ended 31 March 2022
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements In accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. 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:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the financial statements do not accord with those records; or
3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that that the accounts give a 'true and fair' view which is 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.
Mr M C Thompson Independent Examiner
Thompson & Co Ltd 39b Yoork Road Hartlepool TS26 8AH
4
## **Hindu Cultural Society of Cleveland Statement of Financial Activities Year ended 31 March 2022**
|**Note**
**Income and endowments**
Donations and legacies
**4**
Charitable activities
**5**
Investment income
**6**
**Total Income**
**Expenditure**
Expenditure on charitable activities
**7,8**
**Total expenditure**
**Net (expenditure)/income and net movement**
**in funds**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**2022**
2021
Unrestricted Funds
Total
Funds
Total Funds
£
£
£
114,338
1,144,338
65,068
19,108
19,108
75,374
3
3
26|
|---|---|
||133,449 1,163,449
66,789|
||-116,805
-116,805
-72,514|
||-116,805
-116,805
-72,514|
||16,644
16,644
579,544
538,497
538,497
480,543|
||555,141
555,141
538,497|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
5
## **Hindu Cultural Society of Cleveland Statement of Financial Position Year ended 31 March 2022**
|**Year ended 31 March 2022**||||
|---|---|---|---|
|**Fixed assets**
**Note**
Tangible fixed assets
**13**
**Current assets**
Debtors
**14**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**15**
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**Funds of the charity**
Unrestricted funds
**Total charity funds**
**16**|**2022**
**£**
**£**
**298,344**
**-**
**264,770**
**264,770**
**7,973**
**256,797**
**555,141**
**555,141**
**555,141**
**555,141**||2021
£
289,531
249,427|
||||249,427
1,887
247,540|
|||||
|||**555,141**|537,071|
|||**555,141**|537,071|
|||**555,141**|537,071|
|||**555,141**|537,071|
These financial statements were approved by the board of trustees and authorised for issue on …..., and are signed on behalf of the board by:
Mr P Kumar Trustee
6
**Hindu Cultural Society of Cleveland**
## **Notes to the Financial Statements**
## **Year ended 31 March 2022**
## **1. General Information**
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal officer is 3 Wellbrook Close, Ingelby Barwick, TS17 0XL.
## **2. Statement of compliance**
These financial statements have been prepared in compliance with FRS, 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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 (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
## **3. Accounting Policies**
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liability and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **Going concern**
There are no material uncertainties about the charity's ability to continue.
## **Judgements and key sources of estimation uncertainty**
The preparation of the financial statements 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, including expectations of future events that are believed to be reasonable under the circumstances.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
## **Incoming resources**
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
7
**Hindu Cultural Society of Cleveland**
## **Notes to the Financial Statements**
## **Year ended 31 March 2022**
. Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
. Legacy income is recognised when receipt is probable and entitlement is established.
. Income from donated goods 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 facilities and services are recognised in the accounts when received 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 classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
## **Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
.expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
. Expenditure on charitable activities all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
. Other expenditure includes all expenditure that is neither related to raising funds for the charity nor its part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
## **Tangible assets**
All fixed assets are initially recorded at a cost,
## **Depreciation**
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles 25% reducing balance Equipment 15% reducing balance
## **Impairment of fixed assets**
8
## **Hindu Cultural Society of Cleveland**
## **Notes to the Financial Statements**
## **Year ended 31 March 2022**
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is Impaired accordingly. Prior Impairments 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 amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely Independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill 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 liabilities of the charity are assigned to those units,
## **Financial instruments**
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or the other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment,
Other financial instruments, including derivatives, are initially recognised at 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 of interest for a similar debt instrument.
Other financial instruments are subsequently measured at a fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and the financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics,
9
**Hindu Cultural Society of Cleveland**
## **Notes to the Financial Statements**
## **Year ended 31 March 2022**
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
## **4. Donations and legacies**
|**4. Donations and legacies**||
|---|---|
|**Donations**
Donations
**Grants**
Grants receivable
**5. Charitable activities**
other income from charitable
activities
**6. Investment income**
Bank interest receivable|Unrestricted Funds
**Total Funds**
**2022**
Unrestricted
Funds
Total
Funds
2021
£
**£**
£
£
114,338
**114,338**
55,068
55,068
19,108
**19,108**
75,374
75,374|
||133,446
133,446
130,442
130,442|
||Unrestricted Funds
**Total Funds**
**2022**
Unrestricted
Funds
Total
Funds
2021
£
**£**
£
£|
||Unrestricted Funds
**Total Funds**
**2022**
Unrestricted
Funds
Total
Funds
2021
£
**£**
£
£
3
**3**
26
26|
## **7, Expenditure on charitable activities by fund type**
|Society activities
Support Costs|Unrestricted Funds
**Total Funds**
**2022**
Unrestricted
Funds
Total
Funds
2021
£
**£**
£
£
114,526
**114,526**
79,997
79,997
2,279
**2,279**
2,517
2,517|
|---|---|
||116,805
116,805
83,040
83,040|
10
**Hindu Cultural Society of Cleveland**
## **Notes to the Financial Statements**
## **Year ended 31 March 2022**
## **8. Expenditure on charitable activities by activity type**
|Society activities
Governance costs|Activities
undertaken directly
**Support**
**costs**
2022
Total
fund
2021
£
**£**
£
£
116,055
**-**
116,055
70,698
-
**750**
750
1,816|
|---|---|
||116,055
**750**
116,805
72,514|
## **9. Net (expenditure)/income**
Net (expenditure)/income is stated after charging//(crediting):
|Depreciation of tangible fixed assets
**10. Independent examination fees**
Fees payable to the independent examiner for:
Independent examination of the financial statements|2022
2021
£
£
6,187
2,927|
|---|---|
||2022
2021
£
£
750
750|
## **11. Staff costs**
|**11. Staff costs**|||
|---|---|---|
|The total staff costs and employee benefits for the reporting period|||
|are analysed as follows:|||
||2022|2021|
||£|£|
|Wages and salaries|48,645|37,172|
The average head count of employees during the year was 3 (2021: 3).
No employee received employee benefits of more than £60,000 during the year (2021:Nil).
## **12. Trustee remuneration and expenses**
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
11
## **Hindu Cultural Society of Cleveland**
## **Notes to the Financial Statements**
## **Year ended 31 March 2022**
|**13. Tangible fixed assets**
Cost
At 1 April 2021
Additions
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
At 31 March 2022
Carrying amount
At 31 March 2022
At 31 March 2021
**14. Debtors**
Prepayments and accrued
income
**15. Creditors: amounts falling**
**due within one year**
Accruals and deferred income
Social security and other taxes
**16. Analysis of charitable**
**funds**
Unrestricted funds|Land and buildings Motor vehicles
Equipment
Total
£
£
£
£
273,592
32,921
52,601
359,114
15,000
15,000|Land and buildings Motor vehicles
Equipment
Total
£
£
£
£
273,592
32,921
52,601
359,114
15,000
15,000|
|---|---|---|
||273,592
32,921
67,601
374,114||
||-
31,878
37,705
69,583
-
208
5,979
6,187||
||-
32,086
43,684
75,770||
||||
||273,592
835
23,917
283,344||
||273,592
1,391
17,525
292,508||
|||2022
2021
£
£
-
2022
2021
£
£
6,774
1,566
1198
321
7,972
1,887|
|General Funds
General Funds|At 1 April 2021
Income
Expenditure
At 31
March
2022
£
£
£
£
538,497
133,449
116,805
555,141|
|---|---|
||At 1 April 20120
Income
Expenditure
At 31
March
2020
£
£
£
£
481,003
130,468
72,514
538,497|
12
**Hindu Cultural Society of Cleveland**
## **Notes to the Financial Statements**
## **Year ended 31 March 2022**
## **17. Analysis of net assets between funds**
|**17. Analysis of net assets**
**between funds**||
|---|---|
|Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets|Unrestricted
Funds
Total Funds
2022
£
£
298,344
298,344
264,770
264,770
7,973
7,973|
||555,141
555,141|
||Unrestricted
Funds
Total Funds
2022
£
£
298,344
298,344
264,770
264,770
7,973
7,973|
||555,141
555,141|
13
|Hindu Cultural Society of Cleveland
Detailed Statement of Financial Activities
Year ended 31 March 2022
Income and endowments
Donations and legacies
Donations
Grants receivable
Charitable activities
other Income from charitable activities
Investment income
Bank interest receivable
Total Income
Expenditure
Expenditure on charitable activities
Wages and salaries
Rates and water
Light and heat
Repairs and maintenance
Insurance
Telephone
Other office costs
Depreciation
Legal and Professional Fees
Bank Charges
Cleaning
Accountancy fees
Subscriptions
Miscellaneous costs
Total expenditure
Net (expenditure)/income|2022
2021
114,338
55,068
19,108
73,374|
|---|---|
||133,446
128,442|
|||
||3
26|
||133,449
130,468|
||48,645
37,172
-413
997
4,256
4,084
18,626
2,374
2,533
2,591
1069
1322
556
153
6,187
2,977
7798
520
529
175
2344
4094
4561
1,296
271
307
19,843
14,452|
||116,805
72,514|
|||
||116,805
72,514|
|||
||16,644
579,544|
14
## Hindu Cultural Society of Cleveland Notes to the Detailed statement of Financial Activities Year ended 31 March 2022
|Hindu Cultural Society of Cleveland
Notes to the Detailed statement of
Financial Activities
Year ended 31 March 2022||
|---|---|
|Expenditure on charitable activities
Society activities
Activities undertaken directly
Society activities - wages/salaries
Society activities - rates and water
Society activities - light & heat
Society activities - insurance
Society activities - telephone
Society activities - other office costs
Society activities - depreciation
Society activities - cleaning, pest control
and contract waste
Society activities - bank charges
Society activities - visa costs
Society activities - subs
Society activities - cost of food etc
Governance costs
Expenditure on charitable activities
Society activities - repairs & maintenance|2022
2021
£
£
**48645**
37,172
**-413**
997
**44256**
4,084
**18626**
2,374
**2533**
2,591
**1069**
1322
**5367**
153
**6187**
2,977
**2344**
4094
**529**
175
**6798**
**271**
307
**19843**
14,452|
||116,055
70,698|
||750
1,816|
||116,805
72,514|
15
Charity Registration number 700067
Hindu Cultural Society Of Cleveland
Unaudited Financial Statements
31 March 2022
## **Hindu Cultural Society Of Cleveland Financial Statements Year ended 31 March 2022**
||**Page**|
|---|---|
|Trustees annual report|1|
|Independent examiner's report to the trustees|4|
|Statement of financial activities|5|
|Statement of financial position|6|
|Notes to the financial statements|7|
|Statement of changes in equity|4|
|Notes to the accounts|5|
|**The following pages do not form part of the financial statements**||
|Detailed statemnt of financial activities|14|
|Notes to the detailed statement of financilal activities|15|
**Hindu Cultural Society Of Cleveland Trustees' Annual report**
## **Year ended 31 March 2022**
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2022.
## **Reference and administrative details**
**Registered charity name** Hindu Cultural Society of Cleveland **Charity registration number** 700067 **Principal office** 54 Westbourne Grove North Ormesby Middlesbrough TS3 6EF **The Trustees** Mr P Kumar Mr S Biswas Dr SN Roy Dr RKG Mudalagiri Dr B N Prasad Sinha Mr G Singh Mr A Verma **Bankers** Barclays Bank PLC Albert Road Middlesbrough TS1 1PR **Bankers** Co-Operative Bank PO box 48 1 Balloon Street Machester M60 1GP **Bankers** HSBC PLC Po Box 117 Albert Road Middlesbrough TS1 1RS **Independent examiner** Mr M C Thompson FCCA Thompson & Co Ltd 39b York Road Hartlepool TS26 8AH
1
**Hindu Cultural Society Of Cleveland**
## **Trustees Annual Report (continued)**
## **Year ended 31 March 2022**
## **Structure, governance and management**
## Governing document
The charity is controlled by it's governing document, a constitution , as defined by the Charities Act 2011. The charity is an unincorporated charity.
## Organisational Structure
The executive committee is responsible for the management of the charity and it's assets in furtherance of it's objects.
## **Objectives and activities**
## Objectives and aims
Advancing the Hindu religion, culture and promoting integration with other communities. Advancing the education in the Hindu tradition, history, language, literature and music. To manage a place of worship for the Hindu religion for the recitation of Hindu prayers and conduct Hindu rituals. The charity also operates a day centre for the elderly Hindu community but all other faiths are welcome.
## **Public Benefit**
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit and complied with section 17(5) of the 2011 Charities Act when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
## **Achievements and Performance**
## Achievements
The celebration of the Festival of Lights at the centre in Stockton with the collaboration of the council
Celebration of Ramayana and ShivPuja with scholars from India and daytrips were organised for visits to various temples in the UK.
## **Financial review**
It is the policy of the charity to hold sufficient funds to cover the costs of the charity for at least the next 12 months, The current reserves of the charity are more than sufficient for this requirement,
The surplus of income over expenditure for the year was £1,644 (2021: Excess of expenditure £57,954). The total reserves as at the 31st March 2022 were £555,141 (2021 £555,208). The balance of free reserves as at 31st March 2022 is £555,141 (2021: £537,071) which the trustees consider to be within their target reserves level.
The charity's investment income relates entirely to bank interest received and so the trustees do not consider that a separate investment policy is necessary.
## **Plans for future periods**
In the future the charity is looking to generate income by allowing the day centre to be used by other community service groups such as keep fit sessions, NHS health checks and other associated classes. The charity continues to raise some funds by the sale of vegetarian food.
2
## **Hindu Cultural Society Of Cleveland**
## **Trustees Annual Report (continued)**
The charity is also looking to expand the amount of volunteers it uses, to benefit of everyone who uses the day centre.
## **Hindu Cultural Society of Cleveland**
Trustees' Annual Report (continued) Year ended 31 March 2022
The trustees' annual report was approved on …........... And signed on behalf of the board of trustees by:
Mr P Kumar Trustee
3
**Hindu Cultural Society Of Cleveland Accountants' Report**
## **Hindu Cultural Society of Cleveland**
Independent Examiner's Report to the Trustees of Hindu Cultural Society of Cleveland Year ended 31 March 2022
I report to the trustees on my examination of the financial statements of Hindu Cultural Society Of Cleveland ('the charity;) for the year ended 31 March 2022
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements In accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. 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:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the financial statements do not accord with those records; or
3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that that the accounts give a 'true and fair' view which is 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.
Mr M C Thompson Independent Examiner
Thompson & Co Ltd 39b Yoork Road Hartlepool TS26 8AH
4
## **Hindu Cultural Society of Cleveland Statement of Financial Activities Year ended 31 March 2022**
|**Note**
**Income and endowments**
Donations and legacies
**4**
Charitable activities
**5**
Investment income
**6**
**Total Income**
**Expenditure**
Expenditure on charitable activities
**7,8**
**Total expenditure**
**Net (expenditure)/income and net movement**
**in funds**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**2022**
2021
Unrestricted Funds
Total
Funds
Total Funds
£
£
£
114,338
114,338
65,068
19,108
19,108
75,374
3
3
26|
|---|---|
||133,449
133,449
66,789|
||-116,805
-116,805
-72,514|
||-116,805
-116,805
-72,514|
||16,644
16,644
579,544
538,497
538,497
480,543|
||555,141
555,141
538,497|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
5
## **Hindu Cultural Society of Cleveland Statement of Financial Position Year ended 31 March 2022**
|**Year ended 31 March 2022**||||
|---|---|---|---|
|**Fixed assets**
**Note**
Tangible fixed assets
**13**
**Current assets**
Debtors
**14**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**15**
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**Funds of the charity**
Unrestricted funds
**Total charity funds**
**16**|**2022**
**£**
**£**
**298,344**
**-**
**264,770**
**264,770**
**7,973**
**256,797**
**555,141**
**555,141**
**555,141**
**555,141**||2021
£
289,531
249,427|
||||249,427
1,887
247,540|
|||||
|||**555,141**|537,071|
|||**555,141**|537,071|
|||**555,141**|537,071|
|||**555,141**|537,071|
These financial statements were approved by the board of trustees and authorised for issue on …..., and are signed on behalf of the board by:
Mr P Kumar Trustee
6
**Hindu Cultural Society of Cleveland**
## **Notes to the Financial Statements**
## **Year ended 31 March 2022**
## **1. General Information**
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal officer is 3 Wellbrook Close, Ingelby Barwick, TS17 0XL.
## **2. Statement of compliance**
These financial statements have been prepared in compliance with FRS, 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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 (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
## **3. Accounting Policies**
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liability and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **Going concern**
There are no material uncertainties about the charity's ability to continue.
## **Judgements and key sources of estimation uncertainty**
The preparation of the financial statements 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, including expectations of future events that are believed to be reasonable under the circumstances.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
## **Incoming resources**
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
7
**Hindu Cultural Society of Cleveland**
## **Notes to the Financial Statements**
## **Year ended 31 March 2022**
. Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
. Legacy income is recognised when receipt is probable and entitlement is established.
. Income from donated goods 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 facilities and services are recognised in the accounts when received 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 classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
## **Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
.expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
. Expenditure on charitable activities all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
. Other expenditure includes all expenditure that is neither related to raising funds for the charity nor its part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
## **Tangible assets**
All fixed assets are initially recorded at a cost,
## **Depreciation**
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles 25% reducing balance Equipment 15% reducing balance
## **Impairment of fixed assets**
8
## **Hindu Cultural Society of Cleveland**
## **Notes to the Financial Statements**
## **Year ended 31 March 2022**
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is Impaired accordingly. Prior Impairments 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 amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely Independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill 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 liabilities of the charity are assigned to those units,
## **Financial instruments**
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or the other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment,
Other financial instruments, including derivatives, are initially recognised at 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 of interest for a similar debt instrument.
Other financial instruments are subsequently measured at a fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and the financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics,
9
**Hindu Cultural Society of Cleveland**
## **Notes to the Financial Statements**
## **Year ended 31 March 2022**
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
## **4. Donations and legacies**
|**4. Donations and legacies**||
|---|---|
|**Donations**
Donations
**Grants**
Grants receivable
**5. Charitable activities**
other income from charitable
activities
**6. Investment income**
Bank interest receivable|Unrestricted Funds
**Total Funds**
**2022**
Unrestricted
Funds
Total
Funds
2021
£
**£**
£
£
114,338
**114,338**
55,068
55,068
19,108
**19,108**
75,374
75,374|
||133,446
133,446
130,442
130,442|
||Unrestricted Funds
**Total Funds**
**2022**
Unrestricted
Funds
Total
Funds
2021
£
**£**
£
£|
||Unrestricted Funds
**Total Funds**
**2022**
Unrestricted
Funds
Total
Funds
2021
£
**£**
£
£
3
**3**
26
26|
## **7, Expenditure on charitable activities by fund type**
|Society activities
Support Costs|Unrestricted Funds
**Total Funds**
**2022**
Unrestricted
Funds
Total
Funds
2021
£
**£**
£
£
114,526
**114,526**
79,997
79,997
2,279
**2,279**
2,517
2,517|
|---|---|
||116,805
116,805
83,040
83,040|
10
**Hindu Cultural Society of Cleveland**
## **Notes to the Financial Statements**
## **Year ended 31 March 2022**
## **8. Expenditure on charitable activities by activity type**
|Society activities
Governance costs|Activities
undertaken directly
**Support**
**costs**
2022
Total
fund
2021
£
**£**
£
£
116,055
**-**
116,055
70,698
-
**750**
750
1,816|
|---|---|
||116,055
**750**
116,805
72,514|
## **9. Net (expenditure)/income**
Net (expenditure)/income is stated after charging//(crediting):
|Fees payable to the independent examiner for:
Independent examination of the financial statements
Depreciation of tangible fixed assets
**10. Independent examination fees**|2022
2021
£
£
6,187
2,927|
|---|---|
||2022
2021
£
£
750
750|
## **11. Staff costs**
|Wages and salaries
The total staff costs and employee benefits for the reporting period
are analysed as follows:
The average head count of employees during the year was 3 (2021:
3).
No employee received employee benefits of more than £60,000
during the year (2021:Nil).|2022
2021
£
£
48,645
37,172|
|---|---|
|||
## **12. Trustee remuneration and expenses**
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
11
## **Hindu Cultural Society of Cleveland**
## **Notes to the Financial Statements**
## **Year ended 31 March 2022**
|**13. Tangible fixed assets**
Cost
At 1 April 2021
Additions
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
At 31 March 2022
Carrying amount
At 31 March 2022
At 31 March 2021
**14. Debtors**
Prepayments and accrued
income
**15. Creditors: amounts falling**
**due within one year**
Accruals and deferred income
Social security and other taxes
**16. Analysis of charitable**
**funds**
Unrestricted funds|Land and buildings Motor vehicles
Equipment
Total
£
£
£
£
273,592
32,921
52,601
359,114
15,000
15,000|Land and buildings Motor vehicles
Equipment
Total
£
£
£
£
273,592
32,921
52,601
359,114
15,000
15,000|
|---|---|---|
||273,592
32,921
67,601
374,114||
||-
31,878
37,705
69,583
-
208
5,979
6,187||
||-
32,086
43,684
75,770||
||||
||273,592
835
23,917
283,344||
||273,592
1,391
17,525
292,508||
|||2022
2021
£
£
-
2022
2021
£
£
6,774
1,566
1198
321
7,972
1,887|
|General Funds
General Funds|At 1 April 2021
Income
Expenditure
At 31
March
2022
£
£
£
£
538,497
133,449
116,805
555,141|
|---|---|
||At 1 April 20120
Income
Expenditure
At 31
March
2020
£
£
£
£
481,003
130,468
72,514
538,497|
12
**Hindu Cultural Society of Cleveland**
## **Notes to the Financial Statements**
## **Year ended 31 March 2022**
## **17. Analysis of net assets between funds**
|**17. Analysis of net assets**
**between funds**||
|---|---|
|Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets|Unrestricted
Funds
Total Funds
2022
£
£
298,344
298,344
264,770
264,770
7,973
7,973|
||555,141
555,141|
||Unrestricted
Funds
Total Funds
2022
£
£
298,344
298,344
264,770
264,770
7,973
7,973|
||555,141
555,141|
13
|Hindu Cultural Society of Cleveland
Detailed Statement of Financial Activities
Year ended 31 March 2022
Income and endowments
Donations and legacies
Donations
Grants receivable
Charitable activities
other Income from charitable activities
Investment income
Bank interest receivable
Total Income
Expenditure
Expenditure on charitable activities
Wages and salaries
Rates and water
Light and heat
Repairs and maintenance
Insurance
Telephone
Other office costs
Depreciation
Legal and Professional Fees
Bank Charges
Cleaning
Accountancy fees
Subscriptions
Miscellaneous costs
Total expenditure
Net (expenditure)/income|2022
2021
114,338
55,068
19,108
73,374|
|---|---|
||133,446
128,442|
|||
||3
26|
||133,449
130,468|
||48,645
37,172
-413
997
4,256
4,084
18,626
2,374
2,533
2,591
1069
1322
556
153
6,187
2,977
7798
520
529
175
2344
4094
4561
1,296
271
307
19,843
14,452|
||116,805
72,514|
|||
||116,805
72,514|
|||
||16,644
579,544|
14
## Hindu Cultural Society of Cleveland Notes to the Detailed statement of Financial Activities Year ended 31 March 2022
|Hindu Cultural Society of Cleveland
Notes to the Detailed statement of
Financial Activities
Year ended 31 March 2022||
|---|---|
|Expenditure on charitable activities
Society activities
Activities undertaken directly
Society activities - wages/salaries
Society activities - rates and water
Society activities - light & heat
Society activities - insurance
Society activities - telephone
Society activities - other office costs
Society activities - depreciation
Society activities - cleaning, pest control
and contract waste
Society activities - bank charges
Society activities - visa costs
Society activities - subs
Society activities - cost of food etc
Governance costs
Expenditure on charitable activities
Society activities - repairs & maintenance|2022
2021
£
£
**48645**
37,172
**-413**
997
**44256**
4,084
**18626**
2,374
**2533**
2,591
**1069**
1322
**5367**
153
**6187**
2,977
**2344**
4094
**529**
175
**6798**
**271**
307
**19843**
14,452|
||116,055
70,698|
||750
1,816|
||116,805
72,514|
15