REGISTERED CHARITY NUMBER.. 701758 Re ort of the Trustees and Financial Statements for the Year Ended 31 March 2021 for Shree Hindu Tem le & Communi Centre
Shree Hlndu Temple & Community Centre Contents Page Rgport of the Trustees Indopenoent examinerfs rewrt Statement of Financial Activities 1to2 Statement of Financial Posili¢J) Notes lo the FFnancial Statements 6t010 Detailed Sialement of Financi81 Aclivib"es
Shree Hlndu Ternple & Community Centre Trustees. Annual Report For the year ended 31 March 2021 The trustees present their annual report and the financial slatements for the year ended 31 March 2021. The financial statements have been presented in accordance with the accounting policies sel out in page 6 and comply with the charivs trust deed. the Charities Act 2011 and the Statement of Recommendeol Practice.. Accounting and Reporting by Charities 2005. OBJECTIVES AND ACTIVITIES Objectives and aims The objectives of the charity are-. To promote and advance the Hindu Religion in Leicester and the surrounding area To provide a place for feligious worship. for spiritual teaching and religiovs celebration To teach and preach the Hindu religion in the Gujarati and Hindi languages To impart faith in Ihe Sanatan Hindu Dhamia Slgnlficant actlvltles The activities carried out by the charity include= Organising religious. educational and social programmes Organisin9 and running of temple al the charity premises for religious worship ACHIEVEMENT AND PERFORMANCE The charity continues lo build up its sh resetves for the next phase of building works lo both expand the current hall facilities by merging current let propety buildings. The extended hall facility will increase the capacity to hold events and offer more diverse and expended facilities. Charitable Donations During this finanal year. the management committee made charilable donations of £1.000. FINANCIAL REVIEW Principal funding sour¢es The charity's sources of Income arose from the main. voluntary gift and small donations. Investment policy The charity will continue lo focus on developing areas, where there is deemed to be a benefit to ils devotees and the surrounding community. Funding poll¢y The temple has organised a full calendar of scripture readings. religious functions and festivals lo attract maximum attendance. Thus a continuation of small donations was received. and charity satisfied ils public benefit objective. Flnanclal Review The temple income continues lo remains strong. The lernple cash reserves have been re-built for the next phase of building extension and expansion of projects. including facilities for the elderty. luncheon club, library, etc. The Charity ha5 Started lo create cash reserves to meet the future needs of the charity and accommodate any future downturns in income. The temple closed its doors due to covid on 17th March 2020. Page 1
FUTURE PLANS The charity will be reviewing how to optimise and enhance the use of its existing and planned new faciliiies, and derive an income to sustain the increased costs. STRUCTURE. GOVERNANCE AND MANAGEMENT Governlng document The charity 15 constituted under a trust deed dated 23 November 1988 and is a registered charity. Number 701758 Recruitment and appointment of new trustees At the Annual General Meeting on 15th December 2019, a new Trustee Board and Management Committee were elected by the paid members of the Hindu Temple and Community Centre. The same board and committee stand due to Covid pandemic. REFERENCE AND ADMINISTRATIVE DETAILS Charity Name Charity Number Principle Office Accountants Bankers Shree Hindu Temple & Community Centre 701758 34 St Bamabas Road, Leicester. LE5 48D Burleys Leicester Limited, 9 Gower Slreet. Leicester. LE1 3LJ Natwest Bank PIC and Yorkshire Bank Trustoes Dr Jivabh8i Odedra Mr Shanlilal Thanki Mr Mohanbhai Dajibhai Patel Management Committee Trustees Mr Shilalbhai Adatia IPresidentl Mr Vajshibhai Sisodia (VI Presi(Jenl) Mr Pareshbhai R Kolecha (Treasurer) Ramniklal Thakrar (Vice Treasurer) Mr Siddharth Godhania {Secretary} Mr Pardip Kumar (Assistant Secretary) Bhupendrakumar D Patel Rameshbhai Rajshaka Bharal Karavadra Kalpesh Modi" Ishwerlal Lacxman Subhash Metha Budhiabhai Sikotra All of the trustees resigned or were appointed on 15th December 2019 Approved by order of the board of truslees on 11th November 2022 and signed on its behalf by Odedra - Chair of Trustees Page 2
Shree Hindu Temple & Community Centre Independent examiner's report to the Trustees on the accounts of Shree Hlndu Temple & Community Centre for the year ended 31 March 2021 report to the chairty trustees on my examination of the accounts of the Shree Hindu Temple & Community Centre (the Trust) for the year ended 31 March 2021. Res nsibilitles and basis of re ort 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 1.the Acl'l. I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in caTrying out my examination I have followed all applicable Directions given by the Charily Commission under section 145{5)(bl of the Act Inde endent Examinerfs Statement re ortando Since your charity's gross income exceeded £250.000 your examiner must be a member of listed body. I can confirm that l am qualified to undertake the examination because l am a registered member of which is one of the listed bodies I have completed my examination. I confimi that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: inion accounting records were not kept in respect of the Trust a5 required by section 130 of the Act., or 2. the accounts do not accord with those records: or 3. the accounts do not comply with the applicable requirements conceming the fom and content of accounts set out in the Charities {Accounls and Reports) Regulations 2008 other than any requiremenl Ihat the accounts give a tme and fair view which is not a matter considered as part of an independenl examinatson. I have no concerns and have come across no other matters in connection wth 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 A D Kanani FCCA Burfeys Leicester Limited Chartered Certified Accountants 9 Gower Street Leicester LE13LJ 11 November 2022 Page 3
Shrèè Hindu Temple & Communlty Centre Statement of Flnanclal Actlvltles for the year ended 31 March 2021 Unrestricted fund¥ R•$trfcted fvnds Total funds Total funds Note8 2021 2021 2021 2020 Income & Endowments From Incorning résourc8s from genernted ftmds.. Donations & Legac$ Inveslmenl Income Incom¢ From CharitatAe AclivA*s Other trading activit$ Gauchara fund 95.023 16.012 28.986 95.023 16.012 28.986 430 15 136.432 16,270 143.428 7.130 6.564 15 Total Incomln9 rosource5 140.451 15 140.466 309.824 enditur• Resources expended from dAf8Ct ch81ilaLWe exTr.. Raising don8tson5 aThJ legade$ 19),156 1.156 270.738 other trading activiti8$ 1.200 9.792 Charrtab18 ActwIt$ 6,718 Flnance & Govemance o)sts 10 4.872 4.872 4,227 Totsl resources exynded 196,228 197,228 291,475 ILossVnet Incvmln9 resourc 155.7771 {9851 156.7621 18,349 Total funds brought foar 1.976.996 17.920 1.994,916 1.976,567 Total lund$ rrIed forward 1,921.219 16.935 1,994.916 Contlnulng operolion$ l in¢om8 and expe{¥Jilu has aii5en Irl ¢ts"nuing aC1we$ Page 4
Shr¢e Hindu Temple & Community Cenlrg Statement of Financial Position as at 31 March 2021 Unrestricted funds 2021 Restricted funds 2021 Total funds 2021 Total funds 2020 Notes Fixèd a$$ets Tangible assets 1,669,950 1,669,950 1,677.216 1.677,216 12 1.669,950 1.669.950 Current assets Amounts falling due wthin one year Cash at bank and in hand 13 775 257.441 775 274.376 17,662 309,290 16.935 258.216 16.935 275.151 326,952 Current Ilabilitlès Amunts lalling due wlhin on8 year 14 16.9471 16,9471 19,2521 6,9471 Ntrt curr•nt a5S&ts 251,269 16.935 268.204 317.700 Total asset$ less curr•nt liabllltie$ 1,921.219 16.935 1,938,154 1,994,916 Net assets 1,921,219 16.935 1.938,154 1.994,916 Funds Unrestricted funds Restricted funds 15 1.921,219 16,935 1,976.996 17,920 1.994.916 Unrestricted funds 1,938,154 Thè financial slatefflents re approved by Ihe tnjstees on 11th Novembèr 2022 arKI signed on their behalf by.. dedra - Chair of TTuslees Page 5
Shree Hindu Temple & Community Centre Notes to the Accounts for the year ended 31 March 2021 1 Summary of slgnifiunt accounting polici05 Basis of preparing the finan¢lal statements The financial siatements ol the charity, which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP IFRS 1021'Ac¢ounting and Reportin9 by Charities." Sialement of Recommended Practic8 applicable to charities preparing their accounts in accordance with Ihe Financial Reporling Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20151., Financial Reporting Standard 102'The Financial Reporb"ng Standard applicable in the UK and Republic of Ireland. and the Charities Act 2011. The financial statements have b8en ppared under the historical cost nVention. Incom¢ All income is recognised in the Slalement of Financial Activities once the charity has entitlement to the funds, il is probable Ihal Ihe income wll be re¢8ived and the amount can be measured reliably. Expendituro Liabilities are recognised as expenditure as soon as there is a legal or construdive obligation commiiting the charity to that expenditure. il is probable that a transfer of economic benefits will be required in settlement and Ihe amount of Ihe obligation can b8 measured lIablY. Expenditure is accounted for on an accrua15 basis and has been classified under headings Ihal aggregate all Gost related lo the category. Where Gosts cannot be ¢JirecUy attributed to particular heading5 they have been allocated to activilies on a basis consistent Wbth the use of resources. Tangible fixed assets Depreciation is provided at the followng annual rates in ¢yder lo vnite off each asset over ils eslimated useful life. Fixtures and equipment 10% Nel book value Stocks Stocks are valued al the lower of cost and nel realisable value, after making due allowance for obsolete and slow moving items. Taxatlon The charity 15 exempt from lax on its charitable activitses. Fund accounting Unreslricled funds can be used in accordance YAth Ihe charitable obj'ectives at Ihe discretion of the trustees. Restricted funds can only be Ltsed for parbcular reslricted purposes within the objects of the ¢harity. Restriclions arise when specrfied by the ¢Jonor or when funds are raised for particular striC[ed purposes. Further explanation of the nature and purpose of each fund is included in the not8s lo the financial statements. Page 6
Shree Hlndu Temple & Communlty Centre Notes to the Accounts for the year ended 31 March 2021 Hlre pur¢hasg and l•aslng commitments Rentals paid under operating lease5 are charged to Ihe Statement of Financial Ath"vities on a straight line basis over the period of the lease. 2 Analy$ls of Charitable Incomè and expenditure 2021 2020 3 Donatlons & Lègacies Other rèceipts Igrants and insurance daims Pula, arti and donations Gift 65.014 30.CK)9 104,881 28.051 136.432 95,023 4 Investment Incomg Bank deposit interest Rental income 12 16.000 16,012 270 16,000 16,270 5 Incoma From Charitable A¢tlvltles Hall hiTe- religious lun¢tions 28,986 28.986 143,428 143,428 6 Other tradlng activitles Advertising in publication (Bhakti Darshanl Organised tours Fees from running English & Maths c18sses Fees from running Gujarati classes 2,100 520 2.050 2.460 7.130 430 430 7 Raising donations and l•gacle$ Depreciatson Wages and sa18ries Staff Iraining costs Insurance Li9ht & Heat Rates and water Cleaning Printing. postage & slalionery Telephone Pensions Bad debts Repairs & Renewals Navfalri l Diwali l Gujarati Classes Priests Travel & Subsistence Prasad - Foods Hire of plant and machinery 8.336 66.113 9,143 94,439 935 6.693 17.951 2.435 9,433 1,149 2.347 2.821 5.240 10.349 3.288 7.740 1.914 1,987 910 11.302 11,245 4.272 20,110 23,461 11,689 35,604 382 50,612 1,644 270.738 35,808 1,242 190.156 Page 7
Shree Hlndu Temple & Community Centre Notes to the Accounts for the year ended 31 March 2021 8 Oth8r tradlng actlvltl•s Cost of organi5ed tour Publication expenses 870 8,922 9,792 1,2(N) 1.200 9 Charltablt Actlvltles Donations 1,000 6,718 6.718 10 Flnance & Govemance costs Bank charges Accountancy and legal fees 1.701 2,526 4.227 3,228 4,872 Page 8
Shree Hlndu Temple & Community Centre Notes to the Accounts for the year ended 31 March 2021 11 Av8rag• Nurnbèr of Employe•s The average monthly number of employees during the year was as follows.. 2021 2020 Teachers. priests & administrative staff 14 14 14 14 No employees received emoluments in excess of £60.1)00. 12 Tangible Fixed Assets Fr•ehold propèrty Idol ornament5 Fixtur•s & equipment Total Cost Al 1 April 2020 Additions Disposals At 31 March 2021 1.547.825 47.099 185,407 1,070 1,780,331 1.070 1.547,825 47.099 186,477 1,781,401 Dgpreclatlon At 1 April 2020 Charge for the year On disposals At 31 March 2021 103.115 8,336 103,115 8,336 111.451 111,451 Net book value Al 31 March 2021 At 31 March 2020 1.547,825 1.547,825 47,099 47,099 75.026 82.292 1.669.950 1,677.216 13 Debtors- Amounts Falling Due Wlthin One Year 2021 2020 775 16,887 17,662 Stocks Trade Deblors 775 775 Page 9
Shree Hindu Temple & Community Centre Notes to the Accounts for the year ended 31 March 2021 14 Cr•dlt¢rs: Amounts Falllng Duè Wlthin On• Year 2021 2020 Trade creditorsl8¢cruals Taxation and social security Other Creditors 3.686 538 2.723 6.947 6.429 513 2,310 9.252 15 Movement In Funds Net Incomlng Resources At 01.04.20 At 31.03.21 Unrestricted Funds General fund 1.976, 155.7771 1.921,219 Restricted Funds Gauchara fund 17,920 19851 16,935 Total Funds 1,994.916 56.762 1.938,154 Incoming resources Resource5 expended Movement in funds Unreslrlcted Funds General fund 140.451 1196.2281 155.7771 R8Stri¢tgd Funds Gauchara fund 15 11.0001 19851 Total Funds 140.466 197.228 56,762 16 Relatsd Party Dlsclosures There were no trusteos. remuneration or other banefrts for the year ended 31 March 2021 nor for the year ended 31 MarGh 2020. There were no trustees. expenses paid for the year ended 31 March 2021 nor for Ihe year ended 31 March 2020. Page 10
Shree Hindu Temple & Community Centre Detail¥d Stat¢ment of Financial Activitles for the year ended 31 March 2021 Ineome & Endowments 2021 2020 Donatlons & LegaclwJ Other receipts Igranis and insurance daimsl Pul8, arti and donations Gift 65.014 30.009 3.5 104.861 28,051 136.432 Investment In¢ome Bank deposit interest Rentsl incom8 12 16.000 16.D12 270 16,000 16,270 Incom• From Charltsbl• Actlvltl•s Hall hire- religU$ functions 28.986 143.428 143,428 Other Income Advertising in publication (Bhakts" Darshanl Organised tours Gauchara fund Fees from runnirvJ English & Maths dasses Fees from runniThJ Gujarats dass&s 2.100 520 6,564 2.050 2.460 13.694 15 430 445 Ex enditurg 7 Roi51rtg donations and legacies Depreciation Wages and salaries Staff trainin9 Costs Insuran Light & Heat Rates and water Cleaning Printing. postage & slalK)nory Tgltphone Pensions 8ad debts Repairs & Renewals Navratri l Diwali l Gujarali Classes Pnests Travel & Subsistence Prasad- Foods Hirè of plant and machinery 8.336 66.113 9,143 94,439 935 6,693 17.951 2,435 9.433 1.149 2.347 2.821 5.240 10.349 3.288 7.740 1.914 1,987 910 11.302 11.245 4.272 20.110 23,461 11,689 35,604 382 50,612 35.808 1.242 1.156 270.738 8 Other trading actlvities Cost of organised tour Publicats"on expenses 870 8.922 9,792 1.2(KJ 9 Charitable Activitl Donations l.(X)O 6,718 6.718 10 Flnan¢8 & Gov8mance costs Bank charges Accountsncy and legal fees 1.701 2,526 4,227 3.228 4.872 Net Incomlng resourc•s 56.762 18.349 Page 11