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2024-03-31-accounts

Company registration number 02360539 (England and Wales) Charity registration number 1003327 (England and Wales)

SIKH EDUCATION COUNCIL LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

SIKH EDUCATION COUNCIL LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr Harwinder Singh
Dr Pargat Singh
Country of incorporation United Kingdom 02360539
(England and Wales)
Charity registration England and Wales 1003327
Registered office 40 Meadowbank
Hitchin
Hertfordshire
SG4 0HY
Independent examiner Tom Wilcox
Counterculture Partnership LLP
23 St Leonards Road
Bexhill-on-Sea
East Sussex
TN40 1HH

SIKH EDUCATION COUNCIL LIMITED

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 11

SIKH EDUCATION COUNCIL LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and activities

The Sikh Education Council is a team of professional Sikh volunteers concentrating on esoteric teachings from the Guru Granth Sahib and Sikh history, working for the betterment of humankind. Amongst other educational projects, we commemorate key milestones in Sikh history by organising high-profile events to educate and empower people through the teachings of Guru Nanak.

To advance religion in accordance with the tenets and doctrines of the Sikh way of life and to promote the education of the public in accordance with the tenets and doctrines of Sikhi.

Public benefit

The trustees of the Sikh Education Council confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit when exercising their powers and duties in the running of the charity.

The SEC actively furthers its charitable objectives by:

Achievements and performance

Significant activities and achievements against objectives

The Sikh Education Council has significantly advanced its charitable objectives by educating and empowering individuals — from students and teachers to wider audiences — through high-quality courses, scholarly forums, cultural exhibitions, and communal events. The volunteer-led model ensures efficient use of resources while delivering lasting impact in cultural understanding, academic visibility, community cohesion, and youth engagement. - Operating transparently as a volunteer led charity, the Sikh Education Council continues to focus on education, religious understanding, and cultural heritage.

Financial review

The Sikh Education Council is a not for profit charitable organisation run by volunteers. Our financial position is proportionally healthy.

SIKH EDUCATION COUNCIL LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Going concem As described in our most recent UK Company Limited accounts under contingent liabilities. The Sikh Education Council organised a fun day for children at Sri Guru Singh Sabha Gurdwara Hitchin on 25 July 2024. The Sikh Education Council arranged for Amazing Occasions. otherwise known as Herts Bouncy Castles, (the 'Company'l to provide the fun day activities including a climbing wall. The Company sel up and provided two trained operatives to operate and supervise the climbing wall. A child fell from the climbing wall and was injured. The Sikh Education Council has received a letter of clairn from solicitors on behalf of the injured party and is in communication with the loss adjustors instructed by the Company's insurers. We do not have any new information at this point in time. ReSe￿&S policy As at the year ended 31st March 2024, the amount of reserves held were £4,439 (2023. £14,309>. Structure, governanco and management The Sikh Education Council is a charitab18 company governed by both company law and charity18W. The trustees, who are a150 th8 directors for the purpose of company law, and who served during the year and up to the date of signature of the financial slatemenls were.. Mr Harwinder Singh Dr Pargat Singh Recruitment and appointment of truslees The method for appointing trustees is set out In the governing document of the Sikh Education Councll. Truslees are typically elected by the existing board of trustees, in accordance with the procedures outlined in tre constitution. New Iru8tee8 may be nominated based on relevant skills, experience, and alignment with the charity's aims and values. here applicable, the governing document may allow for specific individuals or bodies to nominate or appoint trustees. However, as of the date of this report, no external body has exercised such a power. All appointments are made following careful consideration to ensure the board maintains a suitable mix of skills and perspectives to effectively govern the charity. The trustees, report was approved by the Board of Trustees. Dr Pargat Singh Chalr Dale,.

SIKH EDUCATION COUNCIL LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF SIKH EDUCATION COUNCIL LIMITED

I report to the trustees on my examination of the financial statements of Sikh Education Council Limited (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

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 that in any material respect:

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 financial statements to be reached.

Tom Wilcox

Counterculture Partnership LLP 23 St Leonards Road Bexhill-on-Sea East Sussex TN40 1HH Date: ............................ 28/0//2O26

SIKH EDUCATION COUNCIL LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted Unrestricted
funds funds
2024 2023
Notes £ £
Income from:
Donations and legacies 3 47,546 -
Charitable activities 4 1,812 -
Total income 49,358 -
Expenditure on:
Charitable activities 5 59,228 -
Total expenditure 59,228 -
Net expenditure and movement in funds (9,870) -
Reconciliation of funds:
Fund balances at 1 April 2023 14,309 14,309
Fund balances at 31 March 2024 4,439 14,309

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

SIKH EDUCATION COUNCIL LIMITED BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Flxed assets Tangible assets 11 2,088 Current assets Cash at bank and in hand 4,485 14,309 Credltors: amounts falllng due wlthln one year 12 {2,134) Net current assets 2.351 14,309 Total assets1088 current Ilablllt108 4,439 14,309 The funds of the charlty Unrestricted funds 13 4,439 14.309 4,439 14,309 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 wlth respect to accounting records and the preparation of financial statements. The members have not requlred the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees on 5101 /z026 Dr Pargat Singh Chalr

SIKH EDUCATION COUNCIL LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Sikh Education Council Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 40 Meadowbank, Hitchin, Hertfordshire, SG4 0HY.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the charity's Memorandum of Association, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

SIKH EDUCATION COUNCIL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.5 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 are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 25% on reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

SIKH EDUCATION COUNCIL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 47,546 -
Income from charitable activities
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Total
Ticket sales 1,812 -

SIKH EDUCATION COUNCIL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

5 Expenditure on charitable activities

Direct costs
Depreciation and impairment
Printing costs
General expenses
IT software and consumables
Hanover square costs
Hitchin office costs
Subscriptions
Internal meeting expenses
Southall office costs
Share of support and governance costs (see note 6)
Governance
Analysis by fund
Unrestricted funds
6
Support costs allocated to activities
Governance costs
Analysed between:
Total
7
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
Depreciation of owned tangible fixed assets		 2024
£
1,320
1,320
2024
£
1,320
418		 Total
2024
£
418
928
8,148
1,254
41,148
1,822
395
1,795
2,000
57,908
1,320
59,228
59,228
2023
£
-
-
2023
£
-
-

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

SIKH EDUCATION COUNCIL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

9 Employees

The average monthly number of employees during the year was:
2024 2023
Number Number
Total - -
There were no employees whose annual remuneration was more than £60,000.
Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
Tangible fixed assets
Fixtures and
fittings
£
Cost
Additions 2,506
At 31 March 2024 2,506
Depreciation and impairment
Depreciation charged in the year 418
At 31 March 2024 418
Carrying amount
At 31 March 2024 2,088

10 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 11 Tangible fixed assets

12 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Trade creditors
Accruals and deferred income		 2024
£
814
1,320
2,134		 2023
£
-
-
-

SIKH EDUCATION COUNCIL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

13 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April Incoming Resources At 31 March
2023 resources expended 2024
£ £ £ £
General funds 14,309 49,358 (59,228) 4,439
Previous year: At 1 April Incoming Resources At 31 March
2022 resources expended 2023
£ £ £ £
General funds 14,309 - - 14,309

14 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).