Docusign Envelope ID: 39286C6C-E192-48DC-A377-DB48D257E4DB
CHARITY REGISTRATION NUMBER: 803601
YOGI DIVINE SOCIETY (UK) Annual Report and Financial Statements
31 July 2023
RMR PARTNERSHIP LLP
Chartered Accountants & statutory auditor 3rd Floor, Vyman House 104 College Road Harrow Middlesex HA1 1BQ
Docusign Envelope ID: 39286C6C-E192-48DC-A377-DB48D257E4DB
YOGI DIVINE SOCIETY (UK)
Annual Report and Financial Statements
Year ended 31 July 2023
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent auditor's report to the members | 11 |
| Statement of financial activities | 15 |
| Statement of financial position | 16 |
| Statement of cash flows | 17 |
| Notes to the annual report and financial statements | 18 |
| The following pages do not form part of the annual report and financial | |
| statements | |
| Detailed statement of financial activities | 28 |
| Notes to the detailed statement of financial activities | 29 |
Docusign Envelope ID: 39286C6C-E192-48DC-A377-DB48D257E4DB
YOGI DIVINE SOCIETY (UK)
Trustees' Annual Report
Year ended 31 July 2023
The trustees present their report and the Annual Report and financial statements of the charity for the year ended 31 July 2023.
Reference and administrative details
Registered charity name YOGI DIVINE SOCIETY (UK) Charity registration number 803601 Principal office Haridham Hindu Swaminarayan Temple 63 Woodcock Hill Harrow HA3 0JH The trustees Satish Chatwani Prafulchandra Patel (Retired 27 May 2024) Jatin Shah Chirag Mehta Rekhav Patel Nayan Tank Jayesh Patel Vinay Chauhan Sureshbhai Patel Rajendra Patel Yogi Divine Society UK Limited (A Company Limited by Guarantee) Auditor RMR Partnership LLP Chartered Accountants & statutory auditor 3rd Floor, Vyman House 104 College Road Harrow Middlesex HA1 1BQ
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YOGI DIVINE SOCIETY (UK)
Trustees' Annual Report (continued)
Year ended 31 July 2023
Structure, governance and management
The charity is an unincorporated trust, governed by a constitution amended and adopted on 5 November 2021 and is a registered charity 803601.
The organisation is an unincorporated trust registered under charity registration number 803601. The governing document for the charity is its constitution dated 5 November 2021.
YDSUK operates Mandirs (places of worship) and associated activities to promote the Hindu Swaminarayan faith, with its headquarters in London and centres throughout the UK.
The Mandirs and centres are in the following towns and cities:
the London area - Harrow, Illford, Croydon and Midlands area - Leicester, Birmingham, Coventry, Manchester, Leeds.
The Trustees meet regularly to manage the affairs of the charity.
Each Trustee has assumed responsibility for monitoring activities in specific operational areas and chairing groups consisting of staff arid volunteers. The Trustees report the activities of these operational areas to the Board of Trustees.
All Trustees give their time voluntarily and receive no benefits from the charity.
Appointment of Trustees
Any person who is willing to act as a Trustee, and who is permitted by law to do so, may be appointed as a Trustee by a resolution of Trustees.
Training
Our commitment to effective governance extends to our Trustees. At our trustee meetings, we actively engage in robust discussions regarding updates to legislation. This includes staying informed about any recent guidelines or directives issued by the Charities Commission. By doing so, we ensure that our governance practices remain aligned with legal requirements and best practices.
New trustees receive an induction, which includes introductions to fellow trustees, staff, beneficiaries, and stakeholders. During induction, we cover essential policies and procedures, such as equal opportunities, health and safety, and data protection.
Incoming resources
The Charity derives its income predominantly from donations from followers of the faith. The Charity has not carried out any significant fundraising activities.
Risk management
The Management Committee comprising of the Trustees conduct regular review of the risks to which the charity is exposed.
Where appropriate, systems, or procedures have been established to mitigate the risks. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects.
Procedures are in place to ensure compliance with all statutory legislation and the implementation of
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YOGI DIVINE SOCIETY (UK)
Trustees' Annual Report (continued)
Year ended 31 July 2023
such procedures to ensure the health & safety of staff, volunteers, clients and visitors to the premises.
The primary risk faced by our Charity is in our continued ability to receive sufficient support and donations from the community. To mitigate this, the Management Committee closely monitors both income and expenses, conducting quarterly reviews with prior approval. Our Trustees assess this risk as low, thanks to the broad support we receive from our donor community. The Charitable expenditure is largely discretionary and can be reduced proportionally with any reduction in income. Currently, the Charity's reserves are sufficient to circumvent any short or medium-term reduction in income.
Objectives and activities
The objective of the Yogi Divine Society (UK) are:
a) The advancement of religion in accordance with the tenets and doctrines of Hinduism (Swaminarayan).
b) The advancement of education and awareness in accordance with the tenets of Hinduism (Swaminarayan).
c) The relief of poverty, distress and suffering throughout the World and in particular (but without limitation) in the sub-continent of India.
Activities have been arranged throughout the year to further the objects set out above. In particular, weekly assemblies, organising local and international youth conventions and professional seminars were carried out during the year.
Activities
The charitable activities undertaken in the year are congregational activities; children and youth activities; and food for deities, volunteers and devotees.
The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remain focused on its stated purposes.
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set. One of YDSUK's principal aims and objectives is to impart social, cultural, moral and traditional values to children, teenagers, youths and adults thereby helping to provide a moral and ethical framework for people to live by and so playing an important part in building a better society.
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YOGI DIVINE SOCIETY (UK)
Trustees' Annual Report (continued)
Year ended 31 July 2023
The Charity during the year provided the following activities:
Congregational activities include the regular religious activities undertaken during the year, as well as the celebration of annual Hindu festivals.
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Diwali and New year Celebration
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9th Patotsav Mahapooja
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Swaminarayan and Ram Navmi Celebration
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Guru purnima and Shire Krishna Janmashtami
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Community, Children, Youth and Family activities
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Children sports activity every weekend
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Youth IT learning class
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Paathey Box-Cricket Tournament
Food was provided for deities, volunteers and devotees as part of the religious activities described above.
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YOGI DIVINE SOCIETY (UK)
Trustees' Annual Report (continued)
Year ended 31 July 2023
Achievements and performance
In the past year, our charitable efforts in respect of key activities of congregational events; and children and youth programs are outlined below.
Congregational Activities
Congregational activities include the regular religious activities including prayers undertaken during the year, as well as the celebration of annual Hindu festivals.
Highlights of the year include the below
Diwali & New Year Celebrations at Mandir
Diwali and the Hindu New Year are two of the most important and colourful festivals of the Hindu calendar - a time to celebrate and reinforce family values, charity and goodwill. Most importantly, it is a time for thanksgiving to God, marked most beautifully with the Annakut offering. This, the first meal of the new year, is offered to the murtis in a breath-taking arrangement of food - often hundreds of items combining culinary skills, artistic flair and selfless devotion.
The event was marked by the presence of The Worshipful the Mayor of the London Borough of Harrow, Councillor Ramji Chauhan MBE, Rt Hon Bob Blackman MP, Rt Hon Barry Gardiner MP and other dignitaries of Harrow and Brent.
Swaminarayan Jayanti and Rama Navmi Celebrations
Swaminarayan Jayanti and Ramnavmi hold immense importance in the lives of devotees of the Swaminarayan faith. These auspicious days commemorate the birth of Lord Ram and the birth of Lord Swaminarayan, the revered founder of the Swaminarayan faith.
During these celebrations, the temple organized a special assembly where the Mandir is beautifully decorated. Devotees come together to sing devotional songs (bhajans) and perform a dramatic portrayal of Lord Swaminarayan's life. Spiritual discourses delivered by saints impart the profound teachings of Lord Swaminarayan. The assembly concludes with a communal dinner, fostering a sense of togetherness among the devotees. These vibrant celebrations serve as an opportunity for devotees to express their devotion, learn from the life and teachings of Lord Swaminarayan, and strengthen their spiritual bond with their faith community.
9th Patotsav Mahapooja
The day marks the anniversary of the Mandir's sanctification by the head priest nine years ago. It is a joyous occasion that brings devotees together to celebrate and reflect upon the blessings they have received. The Mandir holds a special place in the lives of the devotees as it provides them with not just a sacred space to offer their prayers, but also a sense of belonging to a vibrant and supportive community.
The anniversary celebration is a momentous event that reinforces the deep-rooted values of unity, togetherness, and communal harmony. It serves as a reminder of the incredible journey the devotees have undertaken as a collective, and the milestones they have achieved in establishing a spiritual and social haven for themselves. It is a time to express gratitude for the Mandir's existence and the opportunities it provides for spiritual growth and connection with fellow devotees.It was celebrated by by by offering Mahapooja by all devotees.
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YOGI DIVINE SOCIETY (UK)
Trustees' Annual Report (continued)
Year ended 31 July 2023
Guru Purnima and Shire Krishna Janmashtami
The celebration of the Guru in Hinduism is a momentous occasion where devotees come together in a special assembly. Devotees expressed their devotion through singing devotional songs and listening to spiritual discourses that emphasized the profound importance of the Guru in their lives. It is a time of reflection, gratitude, and spiritual growth as devotees strengthen their connection with the Guru and seek guidance on their spiritual journey.
During this auspicious celebration, devotees honoured the Guru's teachings and guidance, recognizing the transformative impact on their spiritual well-being. The assembly served as a powerful reminder of the Guru's central role in Hinduism, deepening the devotees' faith and fostering a sense of unity among the community. It is a time of reverence, inspiration, and seeking spiritual enlightenment under the guidance of the revered Guru.
Community, Children, Youth and Family Activities
Children sports activity every weekend
As a result of Covid-19 restrictions and the necessity for social distancing, children were significantly impacted and unable to engage in the activities they loved. To address this, the Mandir took initiative by organizing sports and other recreational events over several weekends, providing children with opportunities to come together and participate in their favourite activities.
The Mandir's efforts aimed to create a supportive and enjoyable environment where children could reconnect with their passions. These organised events allowed them to indulge in sports, games, and other cherished activities that brought them joy and fulfillment. By facilitating these gatherings, the Mandir sought to bring children closer, promoting social interaction and fostering a sense of camaraderie among them.
Youth IT learning class
Recognizing the significance of giving back to the community, the Mandir took a proactive step by organising free IT learning classes. Over the years, numerous individuals have availed themselves of this opportunity, resulting in not only advancements in their careers but also substantial improvements in their lives. Furthermore, these individuals have now become contributors to the community, spreading the benefits they have gained.
The Mandir's initiative in offering free IT learning classes demonstrates its commitment to empowering individuals with valuable skills and knowledge. Participants have seized this chance to enhance their professional prospects and expand their horizons. As a result, they have experienced transformative changes that extend beyond their careers, positively influencing various aspects of their lives.
The impact of the IT learning classes extends even further as individuals who have benefited from the program are now actively giving back to the community. They utilize their newfound expertise and experiences to make meaningful contributions, fostering a cycle of empowerment and support within the community. The Mandir's dedication to providing these educational opportunities showcases their commitment to uplift the community.
Paathey Box-Cricket Tournament
The Mandir organizes a highly popular and beloved Cricket tournament, played in a unique format, that draws many participants from the devotees and the community. This event offers a much-needed
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YOGI DIVINE SOCIETY (UK)
Trustees' Annual Report (continued)
Year ended 31 July 2023
escape from daily routines, allowing participants to relish the joys of life through the excitement and camaraderie of the game. The tournament fosters a strong sense of community spirit, bringing people together in friendly competition and creating memorable experiences that strengthen the bond within the community.
The Cricket tournament holds a special place in the hearts of the devotees and the community, providing a refreshing break and an opportunity to connect with others. It serves as a platform for participants to unwind, celebrate the vibrant spirit of life, and enjoy the shared passion for the game. The Mandir's commitment to organizing this beloved event reflects their dedication to creating an enjoyable and inclusive community experience.
Public benefit
The trustees have complied with their duty in section 17 of the Charities Act 2011 and guidance issued by the Charity Commission in deciding what activities the YDS UK should undertake.
YDS UK's policy is to consult and discuss with employees, staff councils and at meetings, matters likely to affect employees' interests.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's objectives and activities and in planning future activities. It is the judgement of the trustees that activities in pursuit of the above objectives fully meet the public benefit test, which they have kept in mind in planning programmes for the charity.
Financial review
The charity made a surplus of £63,627 (2022: £230,698) and accumulated reserves in surplus of £5,855,298 (2022: £5,791,672) at the yearend. The present level of funding is adequate to support the activities of the charity and the Trustees consider the financial position of the Charity to be satisfactory.
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YOGI DIVINE SOCIETY (UK)
Trustees' Annual Report (continued)
Year ended 31 July 2023
Plans for future periods
Providing career guidance and motivate youths to lead a pure and pious life.
YDS UK has acquired a property in Leicester at 736 Melton Road, Thurmaston, Leicester, LE4 8BD and refurbishment is under way, with the tentative completion date of August 2024.
YDS UK is exploring the possibility of acquiring properties in other locations for opening centres / branches of YDS UK which will continue to achieve the same objectives and activities of the Charity.
Investment policy and objectives
In the short term, the majority of the Charity's funds are allocated to immediate needs. However, the charity also strategically invests in assets that yield ongoing returns. These investments aim to establish a diverse and sustainable income stream, ultimately supporting the Charity's objectives.
The objective of the policy is to support stability and adherence to Charity's objectives,
Reserve policy
The Trustees consider the key measure of sustainability for the Charity to be current and future liquidity cover, rather than the surplus or deficit accounting position. As a consequence, the Trustees have set appropriate reserves policies relating to liquidity based on the relationship between readily realisable assets, on-going level of donations received and the cash requirements associated with sustaining the Charity's operations for a period.
In establishing this policy, the Board of Trustees conducts an annual review of the level of unrestricted reserves in the general fund by considering risks associated with the various income streams, expenditure plans and balance sheet items. This enables an estimate to be made of the level of reserves that are sufficient:
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to allow time for re-organisation in the event of a downturn in income or asset values;
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to protect ongoing work programme; and
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to allow the Charity to meet its objectives.
Risks and issues considered by the Board of Trustees in making this judgment on the level of unrestricted reserves include:
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likelihood of a downturn in income streams;
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period of time required to re-establish income streams;
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period of time required to downsize the Charity operations;
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whether there is adequate control over budgets; and
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requirements for a reasonable level of working capital.
The Trustees have also assessed other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks. In the event of the Charity facing difficult financial circumstances, this would allow it to continue operations during a period of managed adjustment to these new circumstances.
The Trustees review the Charity's reserves policy annually and are satisfied with the level of cash reserves at 31 July 2023 which amounted to £ 2.4m. The Charity's total unrestricted reserves amounted to £5.7m which the trustees consider is sufficient given its policy to retain to fund ongoing costs of the Charity for at least one year.
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YOGI DIVINE SOCIETY (UK)
Trustees' Annual Report (continued)
Year ended 31 July 2023
Statement as to disclosure of information to auditors
Each of the persons who is a trustee at the date of approval of this report confirms that:
so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and
they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.
During the year, the Trustees reviewed their audit requirements and re- appointed RMR Partnership LLP as auditors.
Trustees' responsibilities statement
The trustees are responsible for preparing the trustees' report and the Annual Report and 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 requires the charity trustees to prepare Annual Report and financial statements for each 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, of the charity for that period.
In preparing these Annual Report and 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 applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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prepare the Annual Report and financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the Annual Report and financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, 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.
The appointment of trustees is governed by the Trust Deed of the charity. The Board of Trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.
The trustees of the Charity are legally responsible for the overall management and control of Yogi Divine Society UK ('YDS UK') and meet regularly. The work of implementing most of their policies is carried out by the chairpersons.
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YOGI DIVINE SOCIETY (UK)
Trustees' Annual Report (continued)
Year ended 31 July 2023
28 August 2024 | 8:42 AM BST
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
43CA43EB87C944C... Chirag Mehta Trustee
D75796EF703C4F7... Rekhav Patel Trustee
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YOGI DIVINE SOCIETY (UK)
Independent Auditor's Report to the Members of YOGI DIVINE SOCIETY (UK)
Year ended 31 July 2023
Opinion
We have audited the Annual Report and financial statements of YOGI DIVINE SOCIETY (UK) (the 'charity') for the year ended 31 July 2023 which comprise the statement of financial activities, statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the Annual Report and financial statements:
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give a true and fair view of the state of the charity's affairs as at 31 July 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the annual report and financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the Annual Report and financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the Annual Report and financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the Annual Report and financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the Annual Report and financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
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YOGI DIVINE SOCIETY (UK)
Independent Auditor's Report to the Members of YOGI DIVINE SOCIETY (UK) (continued)
Year ended 31 July 2023
Other information
The other information comprises the information included in the annual report, other than the Annual Report and financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the Annual Report and financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the Annual Report and financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the Annual Report and financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the Annual Report and financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:
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the information given in the trustees' report is inconsistent in any material respect with the Annual Report and financial statements; or
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adequate accounting records have not been kept; or
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the Annual Report and financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the Annual Report and financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of Annual Report and financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the Annual Report and financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
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YOGI DIVINE SOCIETY (UK)
Independent Auditor's Report to the Members of YOGI DIVINE SOCIETY (UK) (continued)
Year ended 31 July 2023
Auditor's responsibilities for the audit of the annual report and financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from our commercial knowledge and experience of the sector; and
we focused on specific laws and regulations which we considered may have a direct material effect on the operations of the charity financial statements or the operations of the charity, including the Charities Act 2011, data protection, anti-bribery, employment laws, environmental and health and safety legislation.
We assessed the susceptibility of the Charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
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making enquiries of management as to where they considered there was susceptibility to fraud,
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their knowledge of actual, suspected and alleged fraud; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
There are inherent limitations in the audit procedures described above; any instance of noncompliance with laws and regulations and fraud which is far removed from transactions reflected in the financial statements would diminish the likelihood of detection. Furthermore, the risk of not detecting a material misstatement due to fraud is greater than the risk of not detecting one resulting from error. Fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or or through an act of collusion that would mitigate internal controls.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http:www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charity's members, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been
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YOGI DIVINE SOCIETY (UK)
Independent Auditor's Report to the Members of YOGI DIVINE SOCIETY (UK) (continued)
Year ended 31 July 2023
undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.
RMR Partnership LLP Chartered Accountants & statutory auditor 3rd Floor, Vyman House 104 College Road Harrow Middlesex HA1 1BQ
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YOGI DIVINE SOCIETY (UK)
Statement of Financial Activities
Year ended 31 July 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 408,225 | 22,803 | 431,028 | 392,240 |
| Investment income | 5 | 20,634 | – | 20,634 | 6,334 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total income | 428,859 | 22,803 | 451,662 | 398,574 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Expenditure | |||||
| Expenditure on charitable activities | 6 | 368,758 | 19,278 | 388,035 | 167,876 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total expenditure | 368,758 | 19,278 | 388,035 | 167,876 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Net income and net movement in | funds | 60,101 | 3,525 | 63,626 | 230,698 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Transfer to general funds from restricted | |||||
| Transfers | 121,309 | (121,309) | 0 | 0 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total funds carried forward | 181,410 | (117,784) | 63,626 | 167,876 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 5,646,434 | 145,238 | 5,791,672 | 5,560,974 | |
| ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | ||
| Total funds carried forward | 5,827,844 | 27,454 | 5,855,298 | 5,791,672 | |
| ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 18 to 26 form part of these Annual Report and financial statements.
- 15 -
Docusign Envelope ID: 39286C6C-E192-48DC-A377-DB48D257E4DB
YOGI DIVINE SOCIETY (UK)
Statement of Financial Position
31 July 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible fixed assets | 12 | 3,433,892 | 3,445,672 | ||
| Current assets | |||||
| Debtors | 13 | 15,120 | 6,586 | ||
| Investments | 14 | 9,845 | 9,845 | ||
| Cash at bank and in hand | 2,441,994 | 2,362,379 | |||
| ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | ||||
| 2,466,959 | 2,378,810 | ||||
| Creditors: amounts falling due | |||||
| within one year | 15 | 45,553 | 32,810 | ||
| ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | ||||
| Net current assets | 2,421,407 | 2,346,000 | |||
| ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | ||||
| Total assets less current liabilities | 5,855,299 | 5,791,672 | |||
| ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | ||||
| Net assets | 5,855,299 | 5,791,672 | |||
| ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | ||||
| Funds of the charity | |||||
| Restricted funds | 27,454 | 145,238 | |||
| Unrestricted funds | 5,827,844 | 5,646,434 | |||
| ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | ||||
| Total charity funds | 17 | 5,855,298 ৶৶৶৶৶৶৶৶৶৶৶৶ |
5,791,672 ৶৶৶৶৶৶৶৶৶৶৶৶ |
These Annual Report and financial statements were approved by the board of trustees and authorised 28 August 2024 | 8:42 AM BST for issue on ........................, and are signed on behalf of the board by:
Chirag Mehta Trustee
The notes on pages 18 to 26 form part of these Annual Report and financial statements.
- 16 -
Docusign Envelope ID: 39286C6C-E192-48DC-A377-DB48D257E4DB
YOGI DIVINE SOCIETY (UK)
Statement of Cash Flows
Year ended 31 July 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income | 63,627 | 230,698 |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 61,802 | 77,515 |
| Other interest receivable and similar income | (20,634) | (6,334) |
| Accrued (income)/expenses | (1,313) | 1,344 |
| Changes in: | ||
| Trade and other debtors | 277 | 167 |
| Trade and other creditors | 14,055 | 20,867 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Cash generated from operations | 117,814 | 324,257 |
| Interest received | 11,823 | 16,385 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Net cash from operating activities | 129,637 | 340,642 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Cash flows from investing activities | ||
| Purchase of tangible assets | (55,492) | (118,335) |
| Proceeds from sale of tangible assets | 5,470 | – |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Net cash used in investing activities | (50,022) | (118,335) |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Net increase in cash and cash equivalents | 79,615 | 222,307 |
| Cash and cash equivalents at beginning of year | 2,362,379 | 2,140,071 |
| ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | |
| Cash and cash equivalents at end of year | 2,441,994 ৶৶৶৶৶৶৶৶৶৶৶৶ |
2,362,378 ৶৶৶৶৶৶৶৶৶৶৶৶ |
The notes on pages 18 to 26 form part of these Annual Report and financial statements.
- 17 -
Docusign Envelope ID: 39286C6C-E192-48DC-A377-DB48D257E4DB
YOGI DIVINE SOCIETY (UK)
Notes to the Annual Report and Financial Statements
Year ended 31 July 2023
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 office is Haridham Hindu Swaminarayan Temple, 63 Woodcock Hill, Harrow, HA3 0JH.
2. Statement of compliance
These Annual Report and 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) (the second edition of Charities SORP (FRS 102)(2019)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The Annual Report and 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 Annual Report and financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements are prepared, on a going concern basis, under the historical cost convention as modified by the revaluation of freehold land and buildings and fixed asset investments.
The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this assessment in respect to a period of one year from the date of approval of these financial statements and have reviewed cash flow forecasts and budgets in performing this review.
The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.
If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
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.
- 18 -
Docusign Envelope ID: 39286C6C-E192-48DC-A377-DB48D257E4DB
YOGI DIVINE SOCIETY (UK)
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 July 2023
3. Accounting policies (continued)
Incoming resources
All income is 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: - income from donations or grants is recognised when there is evidence of entitlement to the gift, amount is received 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 impracticle 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 reliabily 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 includes 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 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.
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:
| Land and building | - | 2% Straight line basis |
|---|---|---|
| Plant and machinery | - | 20% Reducing balance |
| Furniture and fittings | - | 20% Reducing balance |
| Motor vehicle | - | 25% reducing balance |
| Equipment | - | 20% Reducing balance |
- 19 -
Docusign Envelope ID: 39286C6C-E192-48DC-A377-DB48D257E4DB
YOGI DIVINE SOCIETY (UK)
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 July 2023
3. Accounting policies (continued)
Depreciation (continued)
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
From year starting 1st August 2022 we have change depreciation policy from stright line to reducing balance for Plant and Machinary, Fixtur and Fitting and office equipment.
Impairment of fixed assets
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Donations | |||
| General Donations | 217,512 | – | 217,512 |
| Aarti | 3,224 | – | 3,224 |
| Donations - 10/20 Bhag | 181,580 | – | 181,580 |
| Other Income | 5,909 | – | 5,909 |
| Donations - Restricted | – | 22,803 | 22,803 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| 408,225 ৶৶৶৶৶৶৶৶৶ |
22,803 ৶৶৶৶৶৶৶৶ |
431,028 ৶৶৶৶৶৶৶৶৶ |
- 20 -
Docusign Envelope ID: 39286C6C-E192-48DC-A377-DB48D257E4DB
YOGI DIVINE SOCIETY (UK)
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 July 2023
4. Donations and legacies (continued)
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Donations | |||||
| General Donations | 56,333 | – | 56,333 | ||
| Aarti | 5,653 | – | 5,653 | ||
| Donations - 10/20 Bhag | 256,477 | – | 256,477 | ||
| Other Income | 6,102 | – | 6,102 | ||
| Donations - Restricted | – | 67,675 | 67,675 | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| 324,565 | 67,675 | 392,240 | |||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |||
| 5. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Bank interest | 20,634 | 20,634 | 6,334 | 6,334 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| 6. | Expenditure on charitable activities by fund type | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Charitable activity | 67,190 | 11,509 | 78,699 | ||
| Support costs | 301,568 | 7,769 | 309,336 | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| 368,758 | 19,278 | 388,035 | |||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Charitable activity | 22,388 | 1,282 | 23,670 | ||
| Support costs | 142,986 | 1,220 | 144,206 | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| 165,374 | 2,502 | 167,876 | |||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
All support cost are allocated to the charitable activities.
- 21 -
Docusign Envelope ID: 39286C6C-E192-48DC-A377-DB48D257E4DB
YOGI DIVINE SOCIETY (UK)
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 July 2023
7. Analysis of support costs
| Support costs | ||||
|---|---|---|---|---|
| activity | Total 2023 | Total 2022 | ||
| £ | £ | £ | ||
| Staff costs | 12,818 | 12,818 | 14,445 | |
| Premises | 62,688 | 62,688 | 36,989 | |
| Communications and IT | 2,010 | 2,010 | 1,313 | |
| General office | 4,826 | 4,826 | 5,160 | |
| Finance costs | 3,842 | 3,842 | 2,203 | |
| Governance costs | 27,604 | 27,604 | 4,316 | |
| Depreciation | 61,804 | 61,804 | 77,515 | |
| Other motor and travel | 59,220 | 59,220 | 2,266 | |
| Support costs - Other costs type 3 | 75,276 | 75,276 | – | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| 310,088 | 310,088 | 144,207 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| 8. | Net income | |||
| Net income is stated after charging/(crediting): | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Depreciation of tangible fixed assets | 61,802 | 77,515 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |||
| 9. | Auditors remuneration | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Fees payable for the audit of the annual report and financial | ||||
| statements | 1,900 | 1,800 | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | |||
| 10. | Staff costs |
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 12,456 | 14,206 |
| Employer contributions to pension plans | 150 | 239 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 12,606 ৶৶৶৶৶৶৶৶ |
14,445 ৶৶৶৶৶৶৶৶ |
The average head count of employees during the year was 1 (2022: 1).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
11. Trustee remuneration and expenses
The trustees represent the key management personnel for the charity.
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
- 22 -
Docusign Envelope ID: 39286C6C-E192-48DC-A377-DB48D257E4DB
YOGI DIVINE SOCIETY (UK)
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 July 2023
12. Tangible fixed assets
| Land and | Plant and | Fixtures and | Motor | |||
|---|---|---|---|---|---|---|
| buildings | machinery | fittings | vehicles | Equipment | Total | |
| £ | £ | £ | £ | £ | £ | |
| Cost | ||||||
| At 1 Aug 2022 | 3,584,913 | 9,965 | 30,051 | 20,223 | 66,646 | 3,711,798 |
| Additions | 42,893 | 1,100 | 862 | – | 10,637 | 55,492 |
| Disposals | – | – | – | (20,223) | – | (20,223) |
| ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | |
| At 31 Jul 2023 | 3,627,806 | 11,065 | 30,913 | – | 77,283 | 3,747,067 |
| ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | |
| Depreciation | ||||||
| At 1 Aug 2022 | 165,044 | 9,793 | 14,581 | 14,753 | 61,955 | 266,126 |
| Charge for the | ||||||
| year | 55,217 | 254 | 3,266 | – | 3,065 | 61,802 |
| Disposals | – | – | – | (14,753) | – | (14,753) |
| ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | |
| At 31 Jul 2023 | 220,261 | 10,047 | 17,847 | – | 65,020 | 313,175 |
| ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | |
| Carrying amount | ||||||
| At 31 Jul 2023 | 3,407,545 | 1,018 | 13,066 | – | 12,263 | 3,433,892 |
| ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | |
| At 31 Jul 2022 | 3,419,869 | 172 | 15,470 | 5,470 | 4,691 | 3,445,672 |
| ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ |
All the above assets are used for the charitable purpose and held at cost less depreciation.
The freehold land and building is a functional asset, the legal proprietor being Yogi Divine Society UK Limited (Company number: 09132798), a company limited by guarantee and registered in England & Wales, which acts as a custodian trustee of the charity.
13. Debtors
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Prepayments and accrued income | 13,397 | 4,586 | |
| Other debtors | 1,723 | 2,000 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ||
| 15,120 | 6,586 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| 14. | Investments | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Other investments - Gold Haar | 9,845 ৶৶৶৶৶৶৶ |
9,845 ৶৶৶৶৶৶৶ |
Investments represent donations received as gold jewellery decorations. The value of these items is stated at the cost at the time the donations were received.
- 23 -
Docusign Envelope ID: 39286C6C-E192-48DC-A377-DB48D257E4DB
YOGI DIVINE SOCIETY (UK)
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 July 2023
15. Creditors: amounts falling due within one year
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 35,497 | 19,708 |
| Accruals and deferred income | 3,431 | 4,744 |
| Social security and other taxes | – | 112 |
| Other creditors | 6,625 | 8,246 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 45,553 | 32,810 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
16. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £150 (2022: £239).
17. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| 1 August 202 | At | ||||
| 2 | Income | Expenditure | Transfers | 31 July 2023 | |
| £ | £ | £ | £ | £ | |
| General funds | 5,646,434 | 428,859 | (368,758) | 121,309 | 5,827,844 |
| ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | |
| At | |||||
| 1 August 202 | At | ||||
| 1 | Income | Expenditure | Transfers | 31 July 2022 | |
| £ | £ | £ | £ | £ | |
| General funds | 5,480,909 | 330,899 | (165,374) | – | 5,646,434 |
| ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | |
| Restricted funds | |||||
| At | |||||
| 1 August 202 | At | ||||
| 2 | Income | Expenditure | Transfers | 31 July 2023 | |
| £ | £ | £ | £ | £ | |
| Restricted fund - Kitchen | |||||
| fund | 7,424 | – | – | (7,424) | – |
| Restricted fund - Hari | |||||
| nagar fund | 4,879 | 1,387 | (480) | – | 5,786 |
| Restricted fund - | |||||
| Camera fund | 1,954 | – | – | – | 1,954 |
| Restricted fund - East | |||||
| london sabha fund | 4,294 | – | – | – | 4,294 |
| Restricted fund - Benos | |||||
| fund account | 1,398 | 11,598 | (1,562) | – | 11,434 |
| Restricted fund - Bhajan | |||||
| mandal fund | 556 | – | – | – | 556 |
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Docusign Envelope ID: 39286C6C-E192-48DC-A377-DB48D257E4DB
YOGI DIVINE SOCIETY (UK)
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 July 2023
17. Analysis of charitable funds (continued)
| Restricted fund - Kids | |||||
|---|---|---|---|---|---|
| drama fund | 157 | – | – | – | 157 |
| Restricted fund - South | |||||
| london fund | 10,691 | 9,818 | (17,236) | – | 3,273 |
| Restricted fund - Santo | |||||
| ticket fund | 7,481 | – | – | (7,481) | – |
| Restricted fund - | |||||
| Cleaning fund/Covid | 30,615 | – | – | (30,615) | – |
| Restricted fund - Ode | |||||
| mandir | |||||
| seva/AYS2021/Haridha | |||||
| m thal | 13,007 | – | – | (13,007) | – |
| Restricted fund - Atmiya | |||||
| smruti mandir | 14,651 | – | – | (14,651) | – |
| Restricted fund - | |||||
| Leicester mandir | 48,131 | – | – | (48,131) | – |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 145,238 | 22,803 | (19,278) | (121,309) | 27,454 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| At | |||||
| 1 August 202 | At | ||||
| 1 | Income | Expenditure | Transfers | 31 July 2022 | |
| £ | £ | £ | £ | £ | |
| Restricted fund - Kitchen | |||||
| fund | 7,424 | – | – | – | 7,424 |
| Restricted fund - Hari | |||||
| nagar fund | 4,458 | 421 | – | – | 4,879 |
| Restricted fund - | |||||
| Camera fund | 1,954 | – | – | – | 1,954 |
| Restricted fund - East | |||||
| london sabha fund | 4,294 | – | – | – | 4,294 |
| Restricted fund - Benos | |||||
| fund account | 651 | 1,339 | (592) | – | 1,398 |
| Restricted fund - Bhajan | |||||
| mandal fund | 556 | – | – | – | 556 |
- 25 -
Docusign Envelope ID: 39286C6C-E192-48DC-A377-DB48D257E4DB
YOGI DIVINE SOCIETY (UK)
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 July 2023
17. Analysis of charitable funds (continued)
| Restricted fund - Kids | |||||
|---|---|---|---|---|---|
| drama fund | 157 | – | – | – | 157 |
| Restricted fund - South | |||||
| london fund | 9,468 | 3,133 | (1,910) | – | 10,691 |
| Restricted fund - Santo | |||||
| ticket fund | 7,481 | – | – | – | 7,481 |
| Restricted fund - | |||||
| Cleaning fund/Covid | 30,615 | – | – | – | 30,615 |
| Restricted fund - Ode | |||||
| mandir | |||||
| seva/AYS2021/Haridha | |||||
| m thal | 13,007 | – | – | – | 13,007 |
| Restricted fund - Atmiya | |||||
| smruti mandir | – | 14,651 | – | – | 14,651 |
| Restricted fund - | |||||
| Leicester mandir | – | 48,131 | – | – | 48,131 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| 80,065 ৶৶৶৶৶৶৶৶ |
67,675 ৶৶৶৶৶৶৶৶ |
(2,502) ৶৶৶৶৶৶৶ |
– ৶৶৶৶ |
145,238 ৶৶৶৶৶৶৶৶৶ |
18. Analysis of changes in net debt
| At | |||
|---|---|---|---|
| At 1 Aug 2022 | Cash flows | 31 Jul 2023 | |
| £ | £ | £ | |
| Cash at bank and in hand | 2,362,379 | 79,615 | 2,441,994 |
| Current asset investments | 9,845 | – | 9,845 |
| ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | |
| 2,372,224 | 79,615 | 2,451,839 | |
| ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ |
19. Related parties
Yogi Divine Society UK Limited is a trustee of the charity and legal owner of the property and acts as custodian of the charity.
During the year various trustees and their family member made donations to the charity totaling £22,049 (2022: £19,848).
- 26 -