| Contents | Page | ||
|---|---|---|---|
| Report ofthe | Trustees | 3-19 | |
| Independent | Auditor's | Report | 20-23 |
| Statement of | FinancialActivities | 24 | |
| Statement of | Financial | Position | 25 |
| Notes forming | part of | the Financial Statements | 26-32 |
| FOR THE CHARITY, | FOR THE CHARITY, | ITS | TRUSTEES AND ADVISERS | ||
|---|---|---|---|---|---|
| Charity Registration | Number -104154B | ||||
| Charity Address- | 1"Floor, 30Merrick Road, Southall | Middlesex, | UB2 4AU | ||
| Trustee- | Baba Iqbal Singh Kingra (Deceased | on 29January 2022) | |||
| Dr. Davinder Singh Samloke |
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| S.Harkishan Singh |
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| S.Rajinderpal Singh Rai |
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| S.Ranbir Singh Attwal | |||||
| Registered | Office- | 1"Floor, 30Merrick Road, Southall | Middlesex, | UB2 4AU | |
| Bankers- | Barclays, 210 High Street, Hounslow | TW3 1DL | |||
| Independent | Auditor- | Rawlinson a Hunter Audit LLP, 8'" Floor, 6 New | Street Square, New Fetter Lane, | ||
| London, EC4A 3AQ |
THE KALGIDHAR TRUST Independent Auditor's Report to the Trustees of The Kalgidhar Trust (Continued) Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charitie5 Act 2011 and report in accordance with regulations made urbder section 154 of that Art. 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 erior, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of as5urar)ce, but is not a guarantee that an audit conducted in accordance wilh ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered malerial if, individually or in the aggregate, they tould 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 proce(lures in line with our re5ponsibilitie5, 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 15 detailed below. Our assessment of the susceptibility of the Charity's financial statements to material misstatement, includinE how fraud might occur, is considered to be low. This conclusion was reached after the consideration of the following.. due to the relatively simple business model and relatively low number of transactions within the Charity there are comparatively few unexpected fluctuation5 in the reported results and balances and any such unexpected items would be specifically enquired into by us,. and there are a number of individua15 which comprise 'management" and therefore there is no Single individual who is likely to be able to override controls to effect a fraud. We desigried our audit procedures to respond to identified audit risks, including non-compliance with laws and regulations lirregularitiesl that a material to the financial statements. Some of the specific procedure5 performed to detect irregularities, including fraud, are detailed below.. the review of control accounts and journal entries for large or unusual activities- the analytical review of the statement of financial activities for variances that are elther unexpected or considered not to be in accordance with our understènding of the charitable activities during the year,. obtaining and reviewing for completeness a list of entries and persons considered to be related parties las defined by Financial Reporting Standard 1021 and reviewing the ledger5 of the Charity for previously unreported related party transactions,. review of transactions and journals for any indication of fraL¢d or management override,. and review of Trustee meeting minutes for unrecorded transactions. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities. including those leadin8 to a material misstatement in the financial statements or non-compliance with regulation. Thi5 risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. further description responsibilities available on the FRC'S website https'.//www.frc.org.uk/auditors/audit-assurancelauditor-s-respon5ibilities-for-the-audit-of-the-fildescription-of- the-auditor%E2%80%995-respon5ibilities-for.This description forms part of our auditorfs report. our at.. 22
| Notes | Restricted | Unrestricted | Total | Restricted | Unrestricted | Total | ||
|---|---|---|---|---|---|---|---|---|
| Funds | Funds | 2022 | Funds | Funds | 2021 | |||
| E'000 | E'000 | E'000 | E'000 | E'000 | E'000 | |||
| Incoming Resources | ||||||||
| Incoming resources |
||||||||
| from generated | funds: | |||||||
| Donations and |
gifts | 2,3 | 593 | 385 | 978 | 593 | 160 | 753 |
| Gift Aid | 213 | 213 | 37 | 37 | ||||
| Total incoming | ||||||||
| resources | 2,3 | 593 | 598 | 1,191 | 593 | 197 | 790 | |
| Resources Expended | ||||||||
| Cost ofgenerating | ||||||||
| funds: | ||||||||
| Charitable activities |
601 | 334 | 935 | 585 | 118 | 703 | ||
| Governance gr |
Support | |||||||
| costs | 108 | 108 | 97 | 97 | ||||
| Totairesources | ||||||||
| expended | 2,4 | 601 | 442 | 1,043 | 585 | 215 | 800 | |
| Net movement | in | |||||||
| funds | (8) | 156 | 148 | (18) | (10) | |||
| Fund balances | brought | forward | ||||||
| at 1August 2021 | (5) | 6 | 13 | 16 | ||||
| Fund balances | carried | forward | ||||||
| at 31July 2022 | 151 | 154 | (5) | 6 |
| 3 Income | |||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| E'000 | E'000 | ||||
| Donations | and gifts from individuals | 978 | 753 | ||
| Gift Aid | 213 | 37 | |||
| 1,191 | 790 | ||||
| 4 Total resources expended | |||||
| Direct | |||||
| Costs | Total | Total | |||
| 2022 | 2022 | 2021 | |||
| f'000 | E'000 | E'000 | |||
| Legal 5 professional | charges | 8 | 8 | 4 | |
| Travel 5subsistence | 1 | 1 | 2 | ||
| Support costs | 47 | 47 | 54 | ||
| Salaries and Wages | (Note 6) | 51 | 51 | 37 | |
| Events | 1 | 1 | |||
| Donations | out | 935 | 935 | 703 | |
| Total resources expended | 1,043 | 1,043 | 800 |
| 5 Auditor's | Remuneration | Remuneration | 2022 | 2021 | |
|---|---|---|---|---|---|
| 8'000 | f'000 | ||||
| Fees payable | to the | Charity's | auditor forthe audit of | ||
| the Charity's | annual | accounts |
| 2022 | 2021 |
|---|---|
| E'000 | f'000 |
| 45 | 34 |
| 6 | 3 |
| 51 | 37 |
| Fund Re | conciliation | ||||
|---|---|---|---|---|---|
| At 1 | At | ||||
| August | Income | Expenditure | 31July | ||
| 2021 | 2022 | 2022 | 2022 | ||
| E'000 | E'000 | E'000 | f'000 | ||
| Restricted | Funds | 593 | (601) | ||
| Unrestricted Funds |
|||||
| General Funds |
(5) | 598 | (442) | 151 | |
| Total net | assets | 6 | 1,191 | (1,043) | 154 |
| Analysis ofnet assets between | funds | ||
|---|---|---|---|
| Unrestricted | Restricted | ||
| funds | funds | Total | |
| E'000 | E'000 | E'000 | |
| Other Debtors | 60 | 60 | |
| Cash at bank | 118 | 121 | |
| Creditors | (27) | (27) | |
| 151 | 154 |
| 2 Financial Instrume |
2 Financial Instrume |
2 Financial Instrume |
nts | nts | ||||
|---|---|---|---|---|---|---|---|---|
| The carrying amounts | ofthe Charity's | financial | instruments | are as follows: | ||||
| 2022 | 2021 | |||||||
| f'000 | f'000 | |||||||
| Financial | assets | |||||||
| Measured | at fair value | through | SOFA: | |||||
| Cash at bank and | in hand | 121 | ||||||
| Measured | at amortised | cost: | ||||||
| Other Debtors | 60 | |||||||
| Financial | liabilities | |||||||
| Measured | at amortised | cost: | ||||||
| Creditors | 27 | 22 |