REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
FOR |
BHAGWAN SHREE LAKSHMI NARAYAN DHAM (UK) |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
FOR |
BHAGWAN SHREE LAKSHMI NARAYAN DHAM (UK) |
BHAGWAN SHREE LAKSHMI NARAYAN DHAM (UK) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
Page |
Report of the Trustees | 1 | to | 4 |
Independent Examiner's Report | 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 |
Notes to the Financial Statements | 8 | to | 12 |
BHAGWAN SHREE LAKSHMI NARAYAN DHAM (UK) (REGISTERED NUMBER: 05574642) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019). |
Report of the Trustees for the Year end 30 September 2023 |
Objectives and visionary statement of BSLND UK |
Bhagwan Shree Lakshmi Narayan Dham - UK, is part of a charity led by His Holiness across a global platform. Acclaimed Brahmrishi Shree Kumar Swami Ji, Gurudev, as he is affectionately known to millions has devoted their entire life to spread the spiritual message of peace, kindness and love to all religions and walks of life. His message of interfaith harmony is simple, precise, and dedicated to the welfare of humanity. Over their lifetime, and through teachings from his spiritual Guru, Gurudev has successfully acquired and translated the ancient secrets from scriptures and has made it their life's mission through dedication in delivering this much needed message for the betterment of humanitarian. |
Gurudev has extensively travelled the globe with a mission to instil the virtues of equality and brotherhood in people belonging to different religions, cultures, and backgrounds. Through conventions in several countries in Europe, Asia, North America, Africa, and Middle East, he has spread the message of equality, internal peace, and human welfare. His conventions draw people from all walks of life including intellectuals, political leaders, film personalities, bureaucrats, medical practitioners, and scientists. |
The Charity aims to hold on average forty samagams (conventions) on a global platform annually including Europe and as far as Australia and New Zealand. With Europe and UK being important areas with strong following there are usually about six held here. The conventions are watched by hundreds of thousands of followers by live telecast globally, allowing the charity to be an experienced and well-versed supporting entity. |
Following global pandemic (Covid 19), BSLND UK continues to focus on core support services and establishing once again its fundamentals during these unprecedented times of global humanitarian crisis. As the charity continues to realign its resources and charity funds after pandemic, it has been unable to carry out any conventions during financial period 2022 - 2023. |
Key objectives for BSLND UK |
- Review processes to support current business continuity plans (BCP) to reduce risk in event of any future major disruptions, events or global concerns that may adversely affect routine charity work and services. |
- Evaluate outsourcing by marketing to increase charity awareness including: |
- Organise and promote conventions to spread teaching of his Holiness including |
1. New area's within Europe and feasibilities for expansion in USA to meet demand and requests by both individual states and followers from other spiritual organisations |
2. Expand UK head office premises and recruitment new staff including developing |
Structured plan for staff to include Induction, training, and development. |
- Further developing Trustee committee and consultations with his Holiness regarding planning of new facilities at UK head office site as below |
- New facilities to include large premises for yoga practice & teachings; convention hall for sermons and facility to support charitable dining area. |
- Evaluate plans financially for future projection and development |
Structure, governance and management of BSLND UK |
BHAGWAN SHREE LAKSHMI NARAYAN DHAM (UK) (REGISTERED NUMBER: 05574642) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
As stated above the charity is operated on a global structure with head offices in several key locations, the organisation operates as a Limited company. The UK arm is registered as a charity with the details below: |
BSLND UK - Registered charity number: 1113347 |
Little Paddocks, Windsor road, Water Oakley, Berkshire, SL4 5UJ |
Head office telephone numbers: 01628 770041 and 01628 628683 |
Email: BSLND@hotmail.com - www.cosmicgrace.org |
The head of the charity, the Patron, is his Holiness Brahmrishi Shree Kumar Swami Ji. As well as appointed trustee members who work on a voluntary basis, the charity also appoints a paid staff member who provides sermons, religious and educational lectures to devotees and public throughout the year. |
There are three appointed trustee members/key officials who oversee all aspects of the organisational running of the charity. This includes charitable functions, financial, planning both short and long term for growth, learning & development, operational, and future expansion |
. |
The names are as below: |
- Mr Navin Pal (joined Sep 2014) |
- Mr Mohanbhai Vallabhai Mistry (joined Sep 2018) |
- Mr Sanjeev Sharma (joined April 2024) |
The work of the volunteers is invaluable and critical to the running, management, and development of the charity. Without volunteers the charity would not run smoothly on a day-to-day basis including the key volunteers who have oversight operationally. However, it must be noted, all critical and accountable decisions require approval from the Patron as this directly affects them as responsible persons. |
Key goals/achievements and planning for 2022 -2023 |
- Continued building of resilience following global Corona virus (Covid 19) pandemic, |
- Reviewed and improved processes to support current business continuity plans (BCP) to reduce risk in event of any future major disruptions, events or that may adversely affect routine charity work and services. |
- To continue to have in place two lead volunteers at UK head office to oversee day to day operations and logistics, research into staffing expansion to support |
- Overhaul all admin duties in UK head office and have clear systems in place outlining key duties and segregation of individual roles |
- Have structured systems in place including guidance and processes to support daily activities thus defining office from spiritual time |
- Have clearly documented paper trail for all finances coming in and out of UK head office and therefore necessary documentation |
- Streamline banking system to include new methods of operations thus providing better security, transparency and enhanced financial operations. |
Independent Examiner |
Alchemy Financial Solutions Ltd |
19 Edinburgh Drive |
Staines-Upon-Thames |
Surrey |
TWAS 1PJ |
BHAGWAN SHREE LAKSHMI NARAYAN DHAM (UK) (REGISTERED NUMBER: 05574642) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
- Organise and promote conventions to spread teaching of his Holiness including |
1. New area's within Europe and feasibilities for expansion in USA to meet demand and requests by both individual states and followers from other spiritual organisations |
2. Expand UK head office premises and recruitment new staff including developing |
Structured plan for staff to include Induction, training, and development. |
- Further developing Trustee committee and consultations with his Holiness regarding planning of new facilities at UK head office site as below |
- New facilities to include large premises for yoga practice & teachings; convention hall for sermons and facility to support charitable dining area. |
- Evaluate plans financially for future projection and development |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
The charity has undertaken the following charitable activities during the year; |
- held seminars and conferences on regular basis across Europe where the teaching of faith are given to attendees; |
- provides free food camps for all attendees; |
- organised conventions to promote Woman Health Awareness world wide. |
- telecast of programmes based on teachings of Hindu religion |
- publications in three languages to raise awareness of ancient traditional secrets of Cosmic Sound |
- provide counselling sessions which include realisation of self empowerment in health, prosperity, inner peace and |
happiness. |
Public Benefit |
The Trustees are aware of the Charity Commission's guidance on public benefit reporting as set out in Section 17 of the Charities Act 2011. The Trustees confirm that its objectives and activities of promoting the spiritual and moral advancement of humanity are for the general benefit of the public. |
FINANCIAL REVIEW |
All donations or donations in kind are entirely voluntary. |
Total income for the year was £106,589 (2022: £149,157). |
Charitable costs of £128,777 (2022: £263,019) were incurred in undertaking the aims and objectives of the charity. |
There was a surplus of income over expenditure for the year of -£22,188 (2022: -£113,862). This has been transferred to unrestricted reserves. |
Accumulated general funds stood at £123,488 (2021: £145,676) all of which are unrestricted. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
The company was established under a Memorandum and Articles of Association and was incorporated with Companies House on 26 September 2005. The company was registered with the Charities Commission on 26 September 2005. |
BHAGWAN SHREE LAKSHMI NARAYAN DHAM (UK) (REGISTERED NUMBER: 05574642) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Recruitment and appointment of new trustees |
Under the requirements of the Memorandum and Articles of Association of the charitable company, the Trustees are elected to serve for a period of three years at the annual general meeting after which they must be re-elected at the next annual general meeting. |
The Board consists of two Trustees. A new trustee must be appointed if one of the existing Trustees should resign. |
The Board of Trustees collects details of potential candidates to serve as Trustee based on recommendation from other Trustees, who are encouraged to identify candidates with appropriate and relevant skills for future selection and to participate in the selection process.The final decision is made by majority vote on the selection of new Trustees. |
Organisational structure |
The Trustees of the charity are legally responsible for the overall management of the charity. The day to day running of the charity is led by the managing Trustees and all decision are ratified at properly constituted meeting of the Board of Trustees. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Independent Examiner |
Alchemy Financial Solutions Ltd |
19 Edinburgh Drive |
Staines - Upon - Thames |
Surrey |
TW18 1PJ |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
BHAGWAN SHREE LAKSHMI NARAYAN DHAM (UK) |
Independent examiner's report to the trustees of Bhagwan Shree Lakshmi Narayan Dham (UK) ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
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. |
Inderjot Matharu |
Alchemy Financial Solutions Ltd |
19 Edinburgh Drive |
Staines - Upon - Thames |
Surrey |
TW18 1PJ |
Date: ............................................. |
BHAGWAN SHREE LAKSHMI NARAYAN DHAM (UK) |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
2023 | 2022 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 145,676 |
BHAGWAN SHREE LAKSHMI NARAYAN DHAM (UK) (REGISTERED NUMBER: 05574642) |
BALANCE SHEET |
30 SEPTEMBER 2023 |
2023 | 2022 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 8 |
Unrestricted funds | 145,676 |
TOTAL FUNDS | 145,676 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
BHAGWAN SHREE LAKSHMI NARAYAN DHAM (UK) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Motor vehicles | - |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
2. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
BHAGWAN SHREE LAKSHMI NARAYAN DHAM (UK) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
3. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 September 2023 nor for the year ended 30 September 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 30 September 2023 nor for the year ended 30 September 2022. |
4. | STAFF COSTS |
2023 | 2022 |
£ | £ |
Wages and salaries |
96,178 | 95,880 |
The average monthly number of employees during the year was as follows: |
2023 | 2022 |
staff |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: |
2023 | 2022 |
£70,001 - £80,000 |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 145,676 |
BHAGWAN SHREE LAKSHMI NARAYAN DHAM (UK) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
6. | TANGIBLE FIXED ASSETS |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 October 2022 |
Additions |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Social security and other taxes | ( |
) |
Accrued expenses |
8. | MOVEMENT IN FUNDS |
Net |
At | movement | At |
1.10.22 | in funds | 30.9.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 145,676 | (22,188 | ) | 123,488 |
TOTAL FUNDS | (22,188 | ) | 123,488 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 106,589 | (128,777 | ) | (22,188 | ) |
TOTAL FUNDS | ( |
) | (22,188 | ) |
BHAGWAN SHREE LAKSHMI NARAYAN DHAM (UK) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
8. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
At | movement | At |
1.10.21 | in funds | 30.9.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 259,538 | (113,862 | ) | 145,676 |
TOTAL FUNDS | 259,538 | (113,862 | ) | 145,676 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 149,157 | (263,019 | ) | (113,862 | ) |
TOTAL FUNDS | 149,157 | (263,019 | ) | (113,862 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
At | movement | At |
1.10.21 | in funds | 30.9.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 259,538 | (136,050 | ) | 123,488 |
TOTAL FUNDS | 259,538 | (136,050 | ) | 123,488 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 255,746 | (391,796 | ) | (136,050 | ) |
TOTAL FUNDS | 255,746 | (391,796 | ) | (136,050 | ) |
BHAGWAN SHREE LAKSHMI NARAYAN DHAM (UK) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
9. | RELATED PARTY DISCLOSURES |