Caseware UK (AP4) 2023.0.135 2023.0.135 Caseware UK (AP4) 2023.0.135 2023.0.135 To achieve its objectives, GMUKPT adopted following strategies. Establish adequate organisational structure to ensure governance standards in the Trust and its activities. Identify and develop communities and / or commons interest groups. Establish a strong group of volunteers to encourage participation from wider communities / groups and support Trust events. Identify and execute projects and activities to meet Trust objectives. Establish high standards for financial management of Trust activities – including appropriate fund-raising activities and conduct due-diligence for grant making.GMUKPT undertook following activities during the period to achieve its stated objectives. Conducted regular mass prayer events (online and in-person). Encouraged devotee registration to increase cohesion in community. Collaborated with other charities/communities across England to increase outreach. Organised multiple fund-raising projects. Donated to other charities with similar objectives through donations and / or in kind.25756102704305001039083050038772Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Company's accounting policies. On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Company which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.25 Reducing balance method2023-07-01falseNo description of principal activity002024-06-30 12037843 2023-07-01 2024-06-30 12037843 2024-06-30 12037843 2023-06-30 12037843 2023-07-01 2024-06-30 12037843 2022-07-01 2023-06-30 12037843 2024-06-30 12037843 2023-06-30 12037843 2023-07-01 12037843 2022-07-01 12037843 c:RegisteredOffice 2023-07-01 2024-06-30 12037843 d:FurnitureFittings 2023-07-01 2024-06-30 12037843 d:FurnitureFittings 2024-06-30 12037843 d:FurnitureFittings 2023-06-30 12037843 d:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 12037843 d:OtherPropertyPlantEquipment 2024-06-30 12037843 d:OtherPropertyPlantEquipment 2023-06-30 12037843 d:CurrentFinancialInstruments 2024-06-30 12037843 d:CurrentFinancialInstruments 2023-06-30 12037843 c:FRS102 2023-07-01 2024-06-30 12037843 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 12037843 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12037843 b:Trustee1 2023-07-01 2024-06-30 12037843 b:Trustee2 2023-07-01 2024-06-30 12037843 b:Trustee3 2023-07-01 2024-06-30 12037843 b:Trustee4 2023-07-01 2024-06-30 12037843 b:UnrestrictedFundsGeneral 2023-07-01 2024-06-30 12037843 b:UnrestrictedFundsGeneral 2022-07-01 2023-06-30 12037843 b:RestrictedIncomeFunds 2023-07-01 2024-06-30 12037843 b:UnrestrictedFundsGeneral 2024-06-30 12037843 b:UnrestrictedFundsGeneral 2023-06-30 12037843 b:RestrictedIncomeFunds 2024-06-30 12037843 b:RestrictedIncomeFunds 2023-06-30 12037843 b:Activity1 2023-07-01 2024-06-30 12037843 b:Activity2 2023-07-01 2024-06-30 12037843 b:FundraisingEvents b:Activity1 b:TotalRestrictedIncomeFunds 2023-07-01 2024-06-30 12037843 b:FundraisingEvents b:Activity1 2023-07-01 2024-06-30 12037843 b:FundraisingEvents b:Activity2 b:TotalRestrictedIncomeFunds 2023-07-01 2024-06-30 12037843 b:FundraisingEvents b:Activity2 2023-07-01 2024-06-30 12037843 b:FundraisingEvents b:TotalRestrictedIncomeFunds 2023-07-01 2024-06-30 12037843 b:FundraisingEvents 2023-07-01 2024-06-30 12037843 b:TotalUnrestrictedFunds 2024-06-30 12037843 b:TotalUnrestrictedFunds 2023-06-30 12037843 b:TotalRestrictedIncomeFunds 2024-06-30 12037843 b:TotalRestrictedIncomeFunds 2023-06-30 12037843 c:FullAccounts 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 12037843
Charity number: 1190173










GAJANAN MAHARAJ UK PARIVAR TRUST
(A company limited by guarantee)







Unaudited

Trustees' report and financial statements

For the Year Ended 30 June 2024

 
GAJANAN MAHARAJ UK PARIVAR TRUST
 
(A company limited by guarantee)
 

Contents



Page
Reference and administrative details of the Company, its Trustees and advisers
1
Trustees' report
2 - 7
Statement of financial activities
8
Balance sheet
9 - 10
Notes to the financial statements
11 - 20

 
GAJANAN MAHARAJ UK PARIVAR TRUST
 
(A company limited by guarantee)
 

Reference and administrative details of the Company, its Trustees and advisers
For the Year Ended 30 June 2024


Trustees
Paresh Deshmukh, Trustee
Ketan Kadam, Trustee
Rajesh Sadalkar, Trustee
Meghana Kulkarni, Trustee

Company registered number
12037843

Charity registered number
1190173

Registered office
54 Maine Street
Green Park Village
Reading
RG2 6AG

Accountants
Mantax Lynton
Chartered Accountants and Statutory Auditors
2nd Floor Equitable House
7 General Gordon Square
London
SE18 6FH

Page 1

 
GAJANAN MAHARAJ UK PARIVAR TRUST
 
(A company limited by guarantee)
 
  
Trustees' report
For the Year Ended 30 June 2024

The Trustees present their annual report together with the financial statements of the GAJANAN MAHARAJ UK PARIVAR TRUST for the  1 July 2023 to 30 June 2024The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). 
 

Objectives and activities
 

a. Policies and objectives
 

Objective: GMUKPT has been set up with an objective of public benefit – to advance the Hindu religion and specifically the teachings of Shree Gajanan Maharaj in particular but not exclusively by arranging religious services, mass prayers and religious festivals.
GMUKPT has a set of policies and procedures to address various areas such as information security, Data Protection Act, Financial Management, Fund raising policies and Grant making policies. 
 

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
 

b. Strategies for achieving objectives
 

To achieve its objectives, GMUKPT adopted following strategies. 
Establish adequate organisational structure to ensure governance standards in the Trust and its activities.
Identify and develop communities and / or commons interest groups.
Establish a strong group of volunteers to encourage participation from wider communities / groups and support Trust events.
Identify and execute projects and activities to meet Trust objectives.
Establish high standards for financial management of Trust activities – including appropriate fund-raising activities and conduct due-diligence for grant making.
 

c. Activities undertaken to achieve objectives
 

GMUKPT undertook following activities during the period to achieve its stated objectives.
Conducted regular mass prayer events (online and in-person).
Encouraged devotee registration to increase cohesion in community.
Collaborated with other charities/communities across England to increase outreach.
Organised multiple fund-raising projects.
Donated to other charities with similar objectives through donations and / or in kind.
 

d. Social investment policies
 

Trust and its activities provided a strong platform to bring like-minded people together and conduct activities to support spiritual development of participants, which also helped in boosting their morale during difficult Covid times.  Our donations to other charities helped those charities to further their social causes like food and Warm Clothes-Warm Hearts drive to donate re-usable winter clothing to the homeless.
 

Page 2

 
GAJANAN MAHARAJ UK PARIVAR TRUST
 
(A company limited by guarantee)
 
Objectives and activities (continued)

e. Grant-making policies
 

Developed and established detailed policies to enable any grant making is supported with adequate governance standards and due diligence.
 

f. Volunteers
 

Identified and developed core group of long-term volunteers to assist with Trust activities including raising awareness about Trust and its objectives.
 

g. Main activities undertaken to further the Company's purposes for the public benefit
 

Conduct online and in-person events to arrange prayers, which provides them a feeling of togetherness.
 

Strategic report
 

Achievements and performance
 

a. Main achievements of the Company
 

During the period GMUKPT achieved the following:
Donated to charity with similar objective.
Organised food donation drives and campaign to support homeless during winter.
Raised adequate funds to support Trust objectives during the year.
Built dedicated website to publish Trust activities and connect with wider community.
 

b. Key performance indicators
 

Performance of GMUKPT during the period can be reviewed against below-outlined key performance indicators:
Number of people associated with Trust activities across multiple geographies (Outreach): Over 300 people attended a key GMUKPT event with over 700 people attend at least one of our events.
Number of core volunteers (Management Group): 30
Number of events per year: 12 (including online)
Number of grants made to charities with similar objectives per year: 2
Funding base: Maintained healthy inflow of funds by encouraging donations from community.
 

c. Review of activities
 

During the period, GMUKPT conducted following key activities to further their objectives 
Organised large open-community event and smaller, regular mass prayer events (online and in-person).
Organised two fund-raising projects.
Donated to other charities with similar objectives.
 

Page 3

 
GAJANAN MAHARAJ UK PARIVAR TRUST
 
(A company limited by guarantee)
 
Achievements and performance (continued)

d. Factors relevant to achieve objectives
 

These are the key factors that are relevant to the Trust in ensuring achievements of its objectives:
Outreach – Reached out to like-minded people and charities with similar objectives to raise awareness                                              about Trust objectives / activities and encourage community participation.
Connect – Established communication mechanism to connect with volunteers, common interest groups and wider community.
Governance – Established appropriate governance structure including relevant policies and procedures – including for fund-raising and grant-making activities – to ensure Trust activities are managed with high governance standards.
Professionalism – Ensured Trust activities are managed with high professional standards by leveraging professional experience of Trust members, volunteers & community, and seeking external professional advice on key matters.
Financial – Ensured Trust accounts and financial records are maintained on reputed financial / accounting systems (Xero) and engaged independent audit firm to review Trust accounts and book-keeping. Ensured adequate inflow of funds to support Trust activities avoiding loan funding. Established banking relationship and accounts with high street UK bank (Lloyds) to ensure all Trust activities.   
 

e. Fundraising activities and income generation
 

GMUKPT conducted following activities focused on financial to ensure that the Trust activities and relevant costs were met out of adequate fund-raising and income generation
Ensured adequate inflow of funds to support Trust activities avoiding loan funding.
Organised multiple fund-raising projects .
Encouraged community participants / volunteers to establish direct debits to support Trust’s on-going activities avoiding cash-flow challenges.
 

f. Investment policy and performance
 

During the year, the Trust did not aim to / engage in any investment activities other than the interest given by the bank on the amounts in the current account. 
 

g. Duty to promote the success of the Company to achieve its charitable purposes
 

From time to time, we communicate our progress to the volunteers and wider community associated with the Trust. This communication is done through various mechanism such as social media, website, verbal communication and announcement during the events. 
 
 
Page 4

 
GAJANAN MAHARAJ UK PARIVAR TRUST
 
(A company limited by guarantee)
 
Financial review
 

a. Going concern
 

After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
 

b. Reserves policy
 

It is agreed within the board of Trust that we shall keep reserves for at least the next two years to meet basic commitments related to regulatory requirements such as Insurance, Accountant’s fees which is not more than £1500 per year.  
 

c. Deficit
 

There is no financial deficit observed in the Trust. We maintain adequate funds to meet our financial commitments for the next two years.   
 

d. Material investments policy
 

Trust has decided not to do any active investments other than the interest on the bank deposit
 

e. Financial risk management objectives and policies
 

We have structured finance management policies which provide detailed guidance on accounts and finance operational aspects.
 
Financial risk management is the key agenda item for the board of Trustees, which approves policies including for financial management, setting out high standards for financial management and regularly monitors financial risks.
GMUKPT has adopted industry standard tool – Xero is used for book keeping and has engaged independent auditors to review GMUKPT accounts.
 

Page 5

 
GAJANAN MAHARAJ UK PARIVAR TRUST
 
(A company limited by guarantee)
 
Structure, governance and management
 

a. Constitution
 

GAJANAN MAHARAJ UK PARIVAR TRUST is registered as a charitable company limited by guarantee and was set up by a Trust deed.
 

b. Methods of appointment or election of Trustees
 

The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
 

c. Organisational structure and decision-making policies
 

The board of trustees (4 trustees), who are also the board of directors of the company are responsible for taking the key decisions within the organisation. There is a second tier of management is the members (5 members in addition to Trustees) are actively involved in implementing the decisions. 
The next tier of management is the team of volunteers who play a key role in organising the events. There are decision making policies and procedures in place to ensure the decisions are taking and implemented in an uniform manner year on year.  
 

d. Policies adopted for the induction and training of Trustees
 

The Board of Trustees is always actively involved in the creation and management of the policies. Various policies are always referred and improved (as required) in various Trustees’ meetings.  Trustees are assigned various areas as per their expertise such as finance, legal and compliance, volunteers management and are expected to keep rest of the Trustees updated. 
 

e. Pay policy for key management personnel
 

None of the Trustees or Volunteers are paid personnel. It is a Pay Policy of the Trust that none of the Trustees or Volunteers will be paid for their work for the Trust. 
 

f. Related party relationships
 

There is no related party existed for the Trust. 
 

g. Financial risk management
 

The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
 

h. Trustees' indemnities
 

There are standard indemnity protection given for the Trustees in the Trust deed. The insurance cover for the Trust also has standard indemnity protections.  
 
 
Page 6

 
GAJANAN MAHARAJ UK PARIVAR TRUST
 
(A company limited by guarantee)
 
Structure, governance and management (continued)

i. Engagement with suppliers, customers and others
 

As required suppliers are engaged while organising any events. All suppliers are vetted adequately. It is ensured that no Trustees are directly or indirectly associated with the supplier. As per the policy, no Trustees shall be directly or indirectly achieve monitory benefit from the Trust. 
 
 

Plans for future periods
 

The Trust is going to continue various activities mentioned above. In the near future, there is no change / deviation planned from the activities conducted so far.  
 

Members' liability
 

The Members of the Company guarantee to contribute an amount not exceeding £1 to the assets of the Company in the event of winding up.
 

Statement of Trustees' responsibilities
 

The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report including the Strategic report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).


Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles of the Charities SORP (FRS 102);
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.


The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


 

Approved by order of the members of the board of Trustees on 21 March 2025 and signed on their behalf by:
 

................................................
Ketan Kadam
Page 7

 
GAJANAN MAHARAJ UK PARIVAR TRUST
 
(A company limited by guarantee)

 
 
Statement of financial activities (incorporating income and expenditure account)
For the Year Ended 30 June 2024


Unrestricted funds
2024
Restricted funds
2024
Total
funds
2024
Total
funds
2023
Note
        £
        £
        £
        £

Income from:







Donations and legacies

3

15,906

-

15,906

13,189
 
Fundraising income

4

-

4,509

4,509

5,497
 
Other income

5

47

-

47

66
 
Total income
15,953
4,509
20,462
18,752
Expenditure on:







Charitable activities

6

9,365

2,137

11,502

12,071
 
Total expenditure
9,365
2,137
11,502
12,071

Net movement in funds
  
6,588
2,372
8,960
6,681

Reconciliation of funds:

  





Total funds brought forward

  

12,798

12,878

25,676

18,995
 
Net movement in funds

  

6,588

2,372

8,960

6,681
 
Total funds carried forward
  
19,386
15,250
34,636
25,676

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 11 to 20 form part of these financial statements.

Page 8

 
GAJANAN MAHARAJ UK PARIVAR TRUST
 
(A company limited by guarantee)
Registered number: 12037843

 
 
Balance sheet
As at 30 June 2024


2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 10 
3,974
4,453

  
3,974
4,453

Current assets
  

Cash at bank and in hand
  
31,262
21,823

  
31,262
21,823

Creditors: amounts falling due within one year
 11 
(600)
(600)

Net current assets 
  
 
 
30,662
 
 
21,223

Total assets less current liabilities
  
34,636
25,676

Net assets excluding pension asset 
  
34,636
25,676

Total net assets 
  
34,636
25,676


Charity funds
  

Restricted funds
 12 
15,250
12,878

Unrestricted funds
 12 
19,386
12,798

Total funds
  
34,636
25,676

Page 9

 
GAJANAN MAHARAJ UK PARIVAR TRUST
 
(A company limited by guarantee)
Registered number: 12037843

 
 
Balance sheet (continued)
As at 30 June 2024

The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees on 21 March 2025 and signed on their behalf by:




................................................
Ketan Kadam

The notes on pages 11 to 20 form part of these financial statements.

Page 10

 
GAJANAN MAHARAJ UK PARIVAR TRUST

(A company limited by guarantee)
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

1.


General information

GAJANAN MAHARAJ UK PARIVAR TRUST is registered as a charitable company limited by guarantee and was set up by a Trust deed.The registered office is 54 Maine Street, Green Park Village, Reading, RG2 6AG. 
                                                                                                                                                                           The principal activities of the Trust  are disclosed in the Trustees' Report.


2.Accounting policies

  
2.1

Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

GAJANAN MAHARAJ UK PARIVAR TRUST meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

Page 11

 
GAJANAN MAHARAJ UK PARIVAR TRUST

(A company limited by guarantee)
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

2.Accounting policies (continued)

  
2.2

Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Company, can be reliably measured. 

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold.

Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Company's accounting policies.

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Company which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

  
2.3

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Page 12

 
GAJANAN MAHARAJ UK PARIVAR TRUST

(A company limited by guarantee)
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

2.Accounting policies (continued)

2.3

Expenditure (continued)

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

 
2.4

Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Reducing balance method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Other fixed assets represent Idols which are not depreciated as their residual values are likely to be more than cost.

  
2.5

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.


2.6

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

Page 13

 
GAJANAN MAHARAJ UK PARIVAR TRUST

(A company limited by guarantee)
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

2.Accounting policies (continued)

  
2.7

Financial instruments

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

  
2.8

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.


3.

Income from donations and legacies



Unrestricted funds
2024
Total
funds
2024
        £
        £
Donations




Monthly Donations

3,466

3,466

Trustees' Donations

1,903

1,903

Other Donations

8,916

8,916

Gift aid claims

1,621

1,621

Subtotal



15,906
15,906
Total 2024


15,906
15,906

Page 14

 
GAJANAN MAHARAJ UK PARIVAR TRUST

(A company limited by guarantee)
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

3.Income from donations and legacies (continued)



Unrestricted funds
2023
Total
funds
2023
        £
        £
Donations




Monthly Donations

3,549

3,549

Trustees' Donations

4,364

4,364

Other Donations

5,276

5,276

Subtotal



13,189
13,189
Total 2023


13,189
13,189


4.

Income from other trading activities

Income from fundraising events



Restricted funds
2024
Total
funds
2024
        £
        £



Fundraising - Ganapati project

3,568

3,568

Fundraising - GMPTUK Mandir Donations

941

941

Total 2024


4,509
4,509


5.

Other incoming resources



Unrestricted funds
2024
Total
funds
2024
        £
        £



Interest Income

47

47


Page 15

 
GAJANAN MAHARAJ UK PARIVAR TRUST

(A company limited by guarantee)
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

5.Other incoming resources (continued)



Unrestricted funds
2023
Total
funds
2023
        £
        £



Interest income

66

66



6.

Analysis of expenditure on charitable activities


Summary by fund type




Unrestricted funds
2024
Restricted funds
2024
Total
2024
        £
        £
        £




Charitable expenses

6,990

2,137

9,127

Support cost - Note 7

896

-

896

Depreciation

479

-

479

Donations paid

1,000

-

1,000



9,365
2,137
11,502




Unrestricted funds
2023
Restricted funds
2023
Total
2023
        £
        £
        £




Charitable expenses

6,576

1,669

8,245

Support costs - Note 7

886

-

886

Depreciation

639

-

639

Donations paid

2,301

-

2,301



10,402
1,669
12,071

Page 16

 
GAJANAN MAHARAJ UK PARIVAR TRUST

(A company limited by guarantee)
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

7.

Analysis of support costs



Unrestricted funds
2024
Total
funds
2024
        £
        £

Bank charges

34

34

Computer costs

141

141

Insurance

641

641

Cleaning

80

80



896
896



Unrestricted funds
2023
Total
funds
2023
        £
        £

Bank charges

19

19

Computer costs

150

150

Insurance

582

582

Cleaning

135

135



886
886


8.

Analysis of Governance costs



Unrestricted funds
2024
Total
funds
2024
        £
        £

Accountancy fees

720

720

Legal & professional fees

70

70



790
790

Page 17

 
GAJANAN MAHARAJ UK PARIVAR TRUST

(A company limited by guarantee)
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024


Unrestricted funds
2023
Total
funds
2023
        £
        £

Accountancy fees

756

756

Legal & professional fees

83

83



839
839


9.


Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 30 June 2024, no Trustee expenses have been incurred (2023 - £NIL).


10.


Tangible fixed assets




Fixtures and fittings
Other fixed assets
Total

£
£
£


Cost or valuation

At 1 July 2023
4,540
2,538
7,078


At 30 June 2024

4,540
2,538
7,078


Depreciation

At 1 July 2023
2,625
-
2,625

Charge for the year
479
-
479


At 30 June 2024

3,104
-
3,104


Net book value


At 30 June 2024
1,436
2,538
3,974

Other fixed assets represent Idols which are not depreciated.

Page 18

 
GAJANAN MAHARAJ UK PARIVAR TRUST

(A company limited by guarantee)
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

11.



Creditors: Amounts falling due within one year


2024
2023
£
£


Accruals and deferred income
600
600


12.

Statement of funds


Statement of funds - current year

Balance at 1 July 2023
£
Income
£
Expenditure
£
Balance at 30 June 2024
£

Unrestricted funds





General Funds

12,798

15,953

(9,365)

19,386
 

Restricted funds






Restricted Funds

12,878

4,509

(2,137)

15,250
 

Total of funds


25,676
20,462
(11,502)
34,636



Statement of funds - prior year

Balance at
1 July 2022
£
Income
£
Expenditure
£
Balance at
30 June 2023
£

Unrestricted funds





General Funds

9,945

13,255

(10,402)

12,798
 


Restricted funds






Restricted Funds

9,050

5,497

(1,669)

12,878
 


Total of funds


18,995
18,752
(12,071)
25,676

Page 19

 
GAJANAN MAHARAJ UK PARIVAR TRUST

(A company limited by guarantee)
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

13.

Summary of funds


Summary of funds - current year

Balance at 1 July 2023
£
 
Income
£
 
Expenditure
£
 
Balance at 30 June 2024
£
 
General funds

12,798

15,953

(9,365)

19,386
 
Restricted funds

12,878

4,509

(2,137)

15,250
 


25,676
20,462
(11,502)
34,636


Summary of funds - prior year

Balance at
1 July 2022
£
 
Income
£
 
Expenditure
£
 
Balance at
30 June 2023
£
 
General funds

9,945

13,255

(10,402)

12,798
 
Restricted funds

9,050

5,497

(1,669)

12,878
 


18,995
18,752
(12,071)
25,676


14.

Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted funds
2024
Restricted funds
2024
Total
funds
2024
        £
        £
        £



Tangible fixed assets

3,974

-

3,974

Current assets

16,012

15,250

31,262

Creditors due within one year

(600)

-

(600)

Total 


19,386
15,250
34,636


Page 20