The Kalgidhar Trust (A Registered Charity) Trustees, Annual Report & Financial Statements Year Ended: 31 July 2025 Charity no: 1041548
THE KALGIDHAR TRUST
| Contents | Page |
|---|---|
| Report of the Trustees | 3-12 |
| Independent Auditor's Report to the Trustees of The Kalgidhar Trust | 13-16 |
| Statement of Financial Activities | 17 |
| Statement of Financial Position | 18 |
| Statement of Cash Flows | 19 |
| Notes forming part of the Financial Statements | 20-27 |
2
THE KALGIDHAR TRUST Report of the Trustees For the Year Ended 31 July 2025 The Trustees submit their report and the financial statements of The Kalgidhar Trust 1.the Charliy~ or "the Trust") for thè yèar ended 31 July 2025. The financial 5taternents have been prepared in accordance with the accounting policie$ Set out on pages 20 to 22 and comply with the Charitls Tru5l Deed and applicable law. The Trustees have adopted the provislons of the Statement of Recommended Practice ISORPI "Accountlng and Reporting by Charities~ IFRS 1021 in preparing the annual report and financial statements of the Charity. REFERENCE AND ADMINISTrATIVE DETAILS FOR THE CHARITY. ITS TRUSTEES AND ADVISERS Charity Re8iStratlon Number- 1041548 Charfty Address- i# Floor Offlce Sultè 3, Arrow Business Centre, Perlvale, UBfj 7LA Trustees Dr. Davlnder Sinfjh Samloke S. Harki5han Sin8h S. Ralinderpal Rai S. Ranblr Slngh Attwal Reglstered Offlce- I" Floor offi Suite 3. Arrow Buslness Centre, Perlvale, UB6 7LA Bankers 8arclayS1 210 Hl8h Street, Hounslow TW3 IOL Independent Audltor- Rawlinson & Hunter Audlt LLP, 8 Floor, 6 New Street Square, New Fetter Lane. London. EC4A 3AQ The CharSty Is governed by virtue of its constitution set out in it5 Trust Deed, which was adopled on 20 July 1992 and amended on 22 June 1994. The Charity works along5Kle Sikh Places of worship in the UK and also with The Kalgldhar Trustlsociety in India. The success of any work of such magnitude depends upon the spirlt of Sewa15elfle$5 5eNlcel. team-work arKI discipline. The Kalgldhar Trust emphasises spiritual upltftment in all its programmes to establish permanenl peace in the world. The Kalgidhar Trust lays emphasis on rnoral upliftmÈnt ol Children through a blend of modern saentific education and 5pirilual education. This unique 5VStem of education Intulc3tès moral values in the children. who become good global ¢itizens and an asset io S¢xiety. These Children having imbibed ihe virlues can become the leader5 and torth-bearers for others also.. thereby helping eradicate negative forces and vices amongst their contacts. ExperFence tells that one Morally enlightened child can Influence 25-30 members of socieiy around him or hef.
THE KALGIDHAR TRUST Report of the Tru5tee5 For the Year Ended 31 July 2025 Icontlnuedl STRUCTURE, GOVERNANCE AhlD MANAGEMENT Ternis of Trust The Trust is a registered charity (number 10415481 whose principal purpose is to finan charitable purposes in whatevef rnanr the Trustee5, in their absolute disuetion. think fit. The policy of the Trust 15 10 seek 5ufficieni finance to continue to furbd the charitable expenditure of the Trust. Organlsatlon The Trustees of the Charity meet 31 least 4 times a year io discuss ovèrall Strat and to deiermine how best to direit its resources to meet its objectives. The Board of theTrustees comprises lis 4 trustees who are named on page 3. Appolntment of Trustees The appointment ¢1 Trustees 1$ 8ove¥ned by the Governing document of thecharity beln8 Its Trust Deed. The authori5ation lo appoint Trustees, of which there must be at least 3, 15 vested in the 8oard of Trustees. The 4 Trustees named on pa8È 3 have served throughout the period covered by this report. Trustee Inductlon ar tralnlng New trustees are made aware of thei¥ leg31 obligations under Charity Law. the de¢islon-rnaking processes at the Trust, its strategic aim5 and recent performance. They are also provided with a pack of relevant documentalion. including a budget, planned charitable expendlture, a current list of pral¢al projects and copies ol recent publications and press releases. Trusiees are encouraged io attend training events where thèse will 3SSlSt with iheir role. Related partles Transactions with related parties a disdosed in Note 11 to the financial statements. Grant rnaklnB pdicy We consider requests for 8ranls and make Branis which meet the Charity's obje(ts a5 Oiltlined on page 5 et seq.
THE KALGIDHAR TRUST Report of the Trustees For the Year Ended 31 July 2025 (ContlnuÈd} 08JEcfivES. ACTIvlEs. FINANCIAL REVIEW AND FUTURE PLANS The Charity'5 objertives are.. To propagate the Sikh reli8ion in accordance with the tenets of the Ten Gurvs and the livin8 Guru Granth Sahib Ji lThe eternal living Guru). This is c3riiÈd out through re¢ilalK)n of Gurbani/Kirtan Imu5ical recitation), through reli8ious discourse and using publications. To aid in relieving poverty in the UK and abroad. Thesè are tarried out by deliverin8 Value Based EducatSon threu8h a strong network of 130 Schoo15 IAkal Academiesl and 3 Universltles (i under construction) in the Norihern pari of India. The KalgidharTrust advocates the dismantling of all barrièrs and boundaries, embracin8 humanity by treating all human bein85 as one race (Manush Ki Jaat Sabhey Ekey Pehcnanbo - Guru Gobind Slngh Jll and praying for welfare unto all (Sarbat Da Bhalla-Guru Nanak Dev Jil. This entails emancipation Ctf soclètiès by producin8 "Global Citizens. delivering equalrty, justice and welfare of all. PRESIDENT OF THE KALGIDHAR TRUST Dr 8•b* Da¥indtr&nÉhJi MY&S. MD WHO WE AREI OUR WORKI WHAT WE DO Kalgldha Trust UK The Xalgidhar Trust UK 15 a sister or8Jnisaiion of The Kal8idhar Tru5VSociety, India. The UK Trust supports and aspires to bring about a $71ent but sure change lo uplift the socio-economlc status of the rurnl drsadvanta8ed Sikh children in India. In addition to fund raising activities. it administefs and promotès scholarships in Europe and the UK. The financial support and donations in kind are generously advanced by indlviduals, Gurdwaras and muliiple diverse organisètions. The task ai harbd 15 rnanaged by a well-equipped office and staffed by highly ouallfied professional Sikh volunieers. The Sewadars Ivolunteersl are passionate about Sikhi and in the developmenl of the educational capaclty of Slkhs in India and believe strongly In taking Sikhi 10 the World. The Kolgldhar Trusl I Soci•ty -Indla The Kalgidhar Society- Baru Sahlb. Is a not for profit. charitable organisatlon engaged in the delivery of value based educational programs at 130 low cost CBSE (Central Board of Secondary Educalionl Akal Academy schools spread out in the northern part of India and 2 unNersities. The 70.(M)O students who attend these schools are mostly from the deprived 5ection5 of society. regardless of caste. Cfeed. religion. social 5tatvs or geo8raphi re8lon ol the country. The key strategy is to provide tost-effective. quality orlenied holistic schoolin8 to the rural under privilèged children in India. The well-planned valu&baseil education skilfully inteBrates a stark modern learnin8 educational infrastructure.
THE KALGIDHAR TRUST Report of the Trustees For the Year Ended 31 July 2025 (Continued) OUR SUCCESS STORIES l. Academic Excellence A¢ross Rural Schoo15 and Universities 1.1 Out5tandln$ Competitive Exam Rèsults Ramanjeel Kaur- PPMET 2024 Athievement Ramanjeet Kaur brought di5tinclion to the Trusl by seturing Rank 429 in the Punjab Para MedTrcal Entrance Test IPPMET-20241. She has since earned a seal at a Government College. demonstrating the transformative impact of value-based rural education. Akal Universlty- cfETJuly 2024 Success Twelve students from the Oepartment ol Education cleared the national CTET examination. This succe5S followed a ri8orous pieparation pro8ramme includin8 daily cla55e5, mock tests, and personalised mentorin8. riural0ir15ucce5bfully oohi?veshvrdr• 2. Global Outreach & Diaspofa En8agemert 2.1 MlssSon Reboot PunJ•b- Canada Tour IAu8ust 20241 The Trust's leadership ¢ondurted a hi8h-impad tour across Toronto, Calgary, Montreal, Kelowna. and Surrey. Activlties Included: Seminars on -Educate to Save. Jumni success showcases Dlplomatic meetings with MPS and MLAs Corporate partnefship discussions Youth en8a8ement at Khalsa School. Surrey Thls tour 5trengtherbed global support foi fural education and expanded international partnerships. 2.2 Mlsslon Reboot Punjab- USA Tour Ioec 2024-Jan 20251 The USA tour f¢xused on alumni leadership. phllanlhropic partnerships. and communltv OLttrèach. Highlights Included.. Meeiings wtth alumni now serving in global academia and healthcare Recognition of major kand donors supportin8 new academiès Seminars in Seattle, Denver, Las Ve8as, and Sacramento En8a8Èment with famllles supportinB rural revilalisation 3. Soclal Impact & Communlty Development 3.1 Students Lead Antl-Dru8 Campalgn5 Students from Akal Academy Khamanon partldpated in a police-organlsed rally against drug abuse, demonstraiing the fiu5t's commitment to nurturing social responsible youth.
THE KALGIDHAR TRUST Report of the Trustees Forthe Year Ended 31 July 2025 (Continued} 3.2 De-Addlctlon Leader5hlp Raco8nised Natlonalty Dr (Coll Rallnder Sit)gh, Dlrector of the Akal Drug De-Addiction Centre, ieceived the Promlnent Punjabl Award lor his decade5 of 5ervlce In addiction recovery across Puniab and Himathal Pradesh. 4. Transformatlonal Rural Su¢¢ess Storles 4.1 Nursery to NEET- Ga8anpreW Kaurfs MBBS Journèy A student from a farming family in Tarn TaTan secured a government MBBS seat, exemplifying the TTUSt's long-term educational plpeline from early sthooling to professional succe5S. nursery To nEET 4.2 Manmeet-JEE Malns 99.94 Percentlle Pwrnaikobl• Journey Manmeet from Akal Academy Ajitsar Ratia achleved a national ranking of 99.94 percentile while balancing board exams, 5howcasin8 excepttonal discipline and academic excellence. oj 4.3 Rural-ttrGlobal Career5 Students from rural Punjab secured internships and jobs wlth global organisatTron5 Inclvdin8-. KC GlobEd JIVO Wellness Orade Indl These achlevements highlight the Trust's success in bridg5ng the rural-urban opportunity gap. 5. Instltuth>nal Growth & Expanslon 5.1 Openlng of the 130th Akal Academy-Ambala. Haryana The Trust inau8vTated its 130th Akal Academy. expanding its footprint into Haryana. The new school provides value-based education and modern facilitie5 to underserved communities. 6. Healthcare Outreach & Publlc H•alth 6.1 108th Free Multl-Spe¢lallty Medlcal Camp The Akal Charitable Hospltal dellvered free surgical and rnedical care to hundreds of families. The camp a150 provided hands-on cllnlcal tralning lor nursing Students and strengthened the Trust's Integrated health¢are model.
THE KALGIDHAR TRUST Report of the Trustees Forthe Year Ended 31 July 2025 (Contlnuedl 7. Imovation & Future-Ready EduCatn 7.1 Launch of Al & 3D Prlntlng Currlculum Across 100 Rural Academles Beginning in the 2025-26 a£ademit year, students in Grades Vll-xll will recetve structured training in Artificial Intelligence and 3D Printing. Led by IIT-trHined faculty. this initiaiive positions rural students at the forefront of global technological advancement. . Akal Unlverslty Athieves NAAC A+ Accredliatlon Akal University achieved the prestigious NAAC A+ accredltatlon. placing It arnong the top-rated hi8her-education institution5 in India. This reco8nition reflects the University's cornmitment to academic excellence, resèarch innovation, and value-ba5ed education. The accreditation stren8thens the Trusys reputation for delivering world-¢las5 education in rural re8ions and enhances opFr1Un•lIeS for iniemaiional ¢olLiboration5. 9. ExpansSon of the Dru8 D&Addlctlon & RehabSllQalion Programme The Trust expanded Its drug d&addiction seNices. providing treatment. cn$I11n& and rehabilitaiion to Indivlduals affected by substance abuse across Punjab and Himachal Pradesh. The programme dellvÈred thousands of counsellin8 sessions. community awareness drives. and famity support interventions. This yearfs expansion reinforces the Trust's long-standing commitment to combatin8 addiction and restOTin8 dignity to vulnerable individuals and families. 10. Solar Energy Adoptlon Across Rural Schools In alignment wlth the Trusi's sustainability mlsslon. multiple Akal Academles Iransilioned lo solar-powered Inflaruurè. redu¢in8 operational costs and lowering carbon emissions. Thls inltlallve nol only supports environmental stewardshSp but also ensures uninterrupted power supply for digital learning. laboratories, and essential school operatlDns. The shift to renewable energy demonstrates the Trust's forward-looking approach to rural development. 11. Falth Walk 2025- Yalk for Chan8è": A Gkbal Journey of Herltaie and Hope D•tè: 22 Aprll 2025 The Fairh Walk 2025 marked a profound Spifltual milestone for the Trust. bringing to6ether communlties across continents in a shared celebration of heritage. service. and unity. Organised by Akal Academy. 8aN Sahlb in partnership with Ihe San8at Trust. Guru Nanak Nishkam Sewak Jatha, and San8at Television, the walk retraced sKred locations central to the lives and legacies of Sant Baba Teja Sin8h JI and Sant Baba Iqbal Singh Participants journeyed throu8h the historic cloudburst site. the ancient cave. and several splrltuaify si8nificant viewpolnts. each serving as a moment of reflection on the principle of Sorbot do Bholo the wellare of all. In a powerf¢Jl display of global solidarity. the UK SanEat in Birmingham condurted a slrnultaneous walk. connectln8 the diaspora with the spiritual heart of Baru Sahib. This synchroni5ed act of devotion dernonstrated the Trust's abllily to unite cofflmurbities worldwide through shared purpose and prayer.
THE KALGIDHAR TRUST Report of the Trustees For the Year Ended 31 July 2025 (Continued) More than a commemorative event, the Faith Walk 2025 served as a tollective rÈ3ffirmation of the Trusvs mission to advance splrltual and social upliftmeni, ensuring that the light ignrted ai Baru Sahlb continues lo inspire generations across the world. 12. Shukrana Sama8am 2025- A Global Gatherlng In 5outhall. UK Datè.. 31 May 2025 The Shukrana Samagam 2025. held at Gurdwara Sri Guru Singh Sabha in Southall, represented a significant international exlension of the Trust'$ Spiritual outreach. Spanning three days frorn 30 May to I lune, the Samagam honoured the teachlngs and legacy of sant Baba Attar Sin8h li Maharaj, Sant Baba Teja SinBh JS. and Sant Baba Iqbal Slngh Jl. The event brought together the UK San8at for an inspirin8 programme of Kirtan and Katha delivered by esteemed Kirtanrye. Beyond lis devotional slÉnlflcance. the Sama8am served 35 a vital poini of connection lor the global Sikh communrty. strengthening the spiritual bridge between the diaspora and the divine valley of Baru Sahib. The gathering reinforced the Trust's commitment to preservin8 Sikh heritage and cultiva(in8 3 spirit of Shukrono Igratitudel across borders. It also highli8hted the enduling relevance of the Trust's missitin in nurturin8 spiritual on5aousness and vnity among communities worldwide. 13. Splrltual fjra¢e and InstStutlonal VSslon- Uxbrldge Sangat Meeting Date: 2 June 2025 A spiritually si8nifi¢ant mllesione unfolded during the Uxbrld8e Sangat meetrng in London. where the communlty reverenily accepted four Sovroops of Sri Guru Granth Sahib Ji for Sewa and Parkash. This sacred act deepened the splrltual connection between the LIK San8at and the rni55ion ol Baru Sahib. During the gatherin& Dr Davirtder Sln8h Jl, President of The Kalgidhar Trust, addressed the ¢on8re8ation lo share the strategic vision for the"Rebooi Punjab. Initlatlve. He outllned a translormaiive roadmap focused on uplifting rural Punjab throu8h hi8h*vality edutation groundèd in Sikh values of compasslon. Inte8rity. and Seva. The evènt served as a powerful call to action. inspiring the UK community to actively participate in this mission of rural revitalisation, By promotin8 value-based edutation and leadership development, the Trust aims to rekindle htspe and empower future generations within Pvnjab'5 rn95t underserved regions.
THE KALGIDHAR TRUST Report of the Trustees For the Year Ended 31 July 2025 Icontlnued) All Initiatrves IncludinE Guru Ki Kanshi, Computer Donation Appeal, Edvcate to Save, and Walk foi Chan8e resulted in grani payments of £1,057.O)012024- £966,000). FUTURE PLANS The Kalgidhar Trust plans to-reach out to the Ltnreached. through tts various educational. health care and social vices efadication programmes under the project RUKAL POOR DEVELOPMENT INITIATIVE I'RPDI-I. It is expe¢led that a silent socio-economic reform will result out of this sure-footed Era5S-rool exercise of the RPDI. The foolprints of "eradication of illiteracy and vices. would keep on growin8 and positively touth the lives and fulfil the needs of the rural deprived classes. PUBLIC BENEF The Kèlgidhar Trust works for the public benefit by raising public awareness and enhancing public participatlon in the key attributes r)1 Sikh Dharm Isikh way ol Iifel Such as Sarbat da Bhalla (welfare of all). tre3tin8 all human bein8s as one family, universal equality ihro4Jgh Cfeation of Global Citizens IMana5 Ki Jaat Sabhe Ekey Pehchanho Guru Gobind Singh Jil and helping society by carinE for each other and sharin6 our 8ood fortunes wlth the le55 fortunate ones by contribuling a minimum of IO% of our earnings for chariiable purposes (Daswandhl, over¢omin8 so¢ial èvils such as lust, anger, greed, p055e55ivene55, arrogance and ego ihrou8h divine ¥wsdom and promotin8 social virtues like tolerance, patience and forgivene55. The Charity's activities clearly address its objectives and associated aims and activitles as described on page S et seq and theTrustees and staff are mlndful of the need to work for the publlc beneflt and have regard to the Charity Commission guidance on publi¢ benefit. POLICY ON RESERVES The balance held as restrlcted funds and unrestricted funds as at 31 July 2025 were £61,00012024- £32,000) and £175,00012024- £115,000). The Charity's policy is to aim for sufficient reserves to fund at least Iwelve monlh5 future expenditure at any time. INVESTMENT POWERS The Trusteè's investment powers are unre5trirted within "ethical" limits. RISK MANAGEMEP The Trustees have a risk management strategy which compri5es= An annual review of the risks the Trust may face, The establishment of systems and procedures to mltigate those risks identifie(l. The implementation of procedures deslgned to minimise any potential impact on the Trust should those risks rnateriali5e.' and Quarterly Trust meetln85 re8ularly review apparent and inhereni rlsks and the available tools to mitleate such rlsks. io
THE KALGIDHAR TRUST Report of the Trustees Forthe Year Ended 31 July 2025 {Contlnued) FUNDRAISING The Trustees have referred to rhe Code of FundraislnE Practl¢e 1.the Code") which was developed during 2017 by the fundraising community through the work of the Institute of Fvndr3i5ing and Public FundraisinE Association. and the Guidance on Charities and Fundraising issued by the Charity Commission I"CC20"1 and the Charities (protection and Social Investment) Act 20161"the Act"). The Trustees consider that following a review of the Code requirements they are compliant. TRUStEES' RESPONSIBIL[E$ STATEMENT rhe Trustees of The Kalgidhar Trust are responsible for preparinE the Trustee5' Annual Report and the financial statements tsf the charity in accordance with applicable law, the Charities Act 2011, the Charites Act 2022 Iwhero relevantl and the Statemènt of Rècommendèd Pradite.. Accounting and ReportinE by Charities preparing thèir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 issued in October 2019. The law applicable io charities in England and Wales requires the Trustees to Prepare financial statements for each finantial 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 during for that year. In preparingthese financial statements, the Tyustees are required to- select suitable accounting policies and then apply ihem con51Stently,' observe the methods and principle5 in the Charities SORP 2019 IFRS 1021; make judgements and estimates that are reasonable and prudeni- state whether applicable UK accounting Standard5 have been followed, subject to any material departures disc105ed and explained in the financial statement5.' prepare the fi'nanci81 statement5 on a going roncern basis unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Acl 2011, the Charitie5 Act 2022 (where relevant). the Charity (Account5 and Reports) Regulation 2008, and the provisions of the Trust Deed. The Trustees are responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. li
THE KALGIDHAR TRUST Report of the Trustees For the Year Ended 31 July 2025 (Continued) The Trustees are responslble for the maintenance and integrity of the Charity and financial information included on the Charit5 website. Legislatlon in the United Kingdom governing the preparation and dlssemination of financial statements may differ from legislation in other jurlsdlctions. INDEPENDENT AUDITOR A resolution will be proposed atthe Annual Genèral Meéting that Rawlinson & Hunter Audit LLP bè re-appointed as Auditor to the Charity for the ensulng year. Approved by the Trustees and SiBned on their behalf by Ranbirslngh Attwal Trustee Date: 2 2 MAY 2026 12
THE KALGIDHAR TRUST Independent Auditorfs Report to the Trustees of The Kalgidhar Trust Opinion We have audited the financial statements of The Kalgidhar Trust 1.the Charity") for the year ended 31 July 2025 which comprise the Statement of Flnanclal Activities, Statement of Financial Position and notes to the financial statements, including of slgnificant accounting policies. The financial reportlng framework that has been applied in their preparation is applicable law and United Kingdom Accountin8 Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republlc of Ireland (United King(iom Generally Accepted Accounting Practice). In our opinion the financial statementS= give a true and fair view of ihe state of the Charivs affairs as at 31 Jufy 2025. and of tts Incoming resources and application of resources. including its income and expendlture, for the year then ended,. have been properly prepared in accordance with Unrteé Kingdom Generally Accepted Accountin8 Practice- and have been prepared in accordance with the requirements of the Charitie5 Act 2011 and Charltes Act 2022. Basls for oplnlon We condLJCted our audit in accordance with International Standards on Auditin8 IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements Section of our report. We are independent of the Charity in accordance with the ethical requirements that aTe relevant lo our audit of the financial statements in the UK, including the Financial Reporting Council'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 relatin8 t9 8oing concern In auditinB the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements Is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to event5 or conditions that, individually or collectively, may cast significant doubt on the Charity's ability to continue a5 a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to golng concern a described in the relevant sections of this report. 13
THE KALGIDHAR TRUST Independent Auditorfs Report to the Trustees of The Kalgldhar Trust (Continued) Other Informatlon The other infom)ation comprises the information included in the Trustees, Annual Report and Financial Statements. other than the financial statements and our auditor's report ihereon. The Trustees are responsible fof ihe other information. Our opinion on the financial statements does not cover the other infonnation and, we do nol express any forni of assurance conclusion thereon. Our responsibility IS to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent materlal mi55tatement5, we are required to determine whether this gives rise to a malerial mi55tatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other infomiation. we are required to report that fact. We have nothing to report in this regard. Matters on whlch we are requlred to report by exception We have nothing to report in respect of the following matters in relation to which the Charitie5 IAccounts and Reports) Regulations 2(()8 requlre us to report to you if, in our opinion-. the information given in the financial statements is inconsistent in any material respect with the Trustees, report- or sufficient accounting records have not been kept- or the financial statements are not in agreement with the accounting records,. or we have not received all the infomiation and explanations we require for our audit. Responslbllltles of truslees As explained more fully in the Trustees, Responsibilities Statement set out on page 18, the Trustees are responsible for the preparation of 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 financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial staiements. the Trustees are responsible for assessing the Charitys ability to conliftue as a going concem, disclosing, as applicable, maiter5 related to going concern and usin8 the going concern basis of accounting unless the Trustees either intend io liquidate the Charity or to cease operation5, or have no realistic alternative but to do so. 14
THE KALGIDHAR TRUST Independent Auditorfs Report to the Trustees of The Kalgidhar Trust (Continued) Auditorf5 responslblllties for the audlt of the flnanclal statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report In accordance with regulations made under section 154 of that Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, wheiher due to fraud or error, and to issue an auditorfs rep)rt that includes our opinion. Reasonable assurance is a high level of assurance, but 15 not a guarantee that an audit conducted in accordance with ISAS IUKI 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 experted 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 regulation5. We design procedures in line with our responsibilities, outlined above, to detect material misstatemenis in respect of irregularities. including fraud. The extent to which our proceéures are capable of detectin8 irregularities, including fraud is detailed below. Our assessment Of the susceptibility of the Charlty's financial statements to material misstatement, including how fraLJd might occur, 15 considered to be low. This conclusion wa5 reached after the consideration of the followin8: due to the relatively slmple business model and relatively low number of transactions within the Charity there are comparatively few unexpected fluctuations in the reported results and balance5 and any such unexpected Items would be specifically enquired into by us; and there are several individuals which comprise "managemenv and therefore there is no single individual who is likely to be able to override controls to effect a fraud. We designed our audit procedures to respond to identified audit risks, including non<ompllance with laws and regulations lirregularitiesl that are material to the financial statements. Some of the specific procedures performed to detect Irregularltles, Including fraud, are detailed below.. the review of control accounts and Journal entrles for large or unusual activities- the analytical review of the statement of financial activities for variances that are either unexpected or considered not io be in accordance wilh our understanding of the charitable aclivities during the year,. obtaininE 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 led8ers of the Charity for previously unreported related party transactions- review of transactions and Journals for any indication of fraud or management override: and review of Trustee meeting minutes for unrecorded transactions. Because of the inherent limitations of an audlt, there Ss a rlsk that we will not detect all irregularities, including those leading to a material mi55tatement in the financial statements or non-compliance with regulation. This 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 15
THE KALGIDHAR TRUST
Independent Auditor's Report to the Trustees of The Kalgidhar Trust (Continued)
rather than error, as fraud involves intentional concealment, forgery, collusion, omission or mis representation.
A further description of our responsibilities is available on the FRC's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of Report
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity's Trustees 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 Trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Rawlinson & Hunter Audit LLP
Statutory Auditor Chartered Accountants Eighth Floor 6 New Street Square New Fetter Lane London EC4A 3AQ
Date: 25 May 2026
Rawlinson & Hunter Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
16
THE KALGIDHAR TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2025 Notes Re5trirted Unrestricted Totsl Restricted Unrestricted Total Funds Funds 2025 Funds Funds 2024 £'ooo £'ooo £'ooo £'ofy) £,0 Incomlng Resources Incoming resources from generated funds: Donations and gifts 769 378 1,147 551 499 1,050 Gift Aid 190 190 129 129 Total incoming resources 769 568 1,337 551 628 1,179 Resources Expended Cost of Eenerating funds: Charitable activities Governance & Support costs 740 317 1,057 542 424 966 191 191 145 145 Totsl resources expended 740 508 1,248 542 569 I,iii Net movement in funds Fund balances brought forward at l August 2024 Fund balances carried forward at 31 July 2025 29 60 89 59 68 32 115 147 23 56 79 61 175 236 32 115 147 All of the above result5 are derived from continuing adivities. All Eains and losses recognised in the year are included above. The notes on pages 20 to 27 form part of these financial statements. 17
THE KALGIDHAR TRUST STATEMENT OF FINANCIAL POSITION AS AT 31 JULY 2025 Notes 2025 2024 £'o Current A55ets Debtors 7,10,14 105 43 Cash at bank and in hand 10,14 163 162 268 Credltots: amount falling due within one year 205 8,10,14 1321 158) 236 147 Total assets less current liabllltles 236 147 Net Awts 236 147 Funds: Restricted funds 61 32 Unrestricted funds 175 115 Total Funds 236 147 The financlal statements were approved and 0hOnSed for issue by the Trustees .and 518ned on their behalf bv- Ranblr Singh Attwal. Trustee The notes on pages 20 to 27 form part of these financial statements. 18
THE KALGIDHAR TRUST STATEMENT OF CASH FLOWS AS AT 31 JULY 2025 2025 2024 £'ooo £'ooo Cash flows from operating activities: Net income for the reporting period las per the statement of financial activitie51 89 68 Adjuslments for: Intrease in debtors 1621 1261 1221 28 (Decreasellncrease in creditors Net rash used in operatlng activitie5 74 Change in cash and cash equivalents In the reporting period 74 Cash and cash equivalents at l August Cash and cash equivalents at 31 July 162 88 163 162 Cash and cash equlvalents con5i5t of: Cash at bank and in hand 163 162 The notes on pages 20 to 27 form part of these financial statements. 19
THE KALGIDHAR TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 I Statement of Compllance The Kalgidhar Trust I'the Charity"), registered charity number 1041548, is based and administered in the United Kingdom. The registered addre55 is I, Floor Office Suite 3, Arrow Business Centre, Perivale, UB6 7LA. The nature of the Charity's operations and principal activrties are set out in the Trustees, Annual Report. The financial statements have been prepared under the historical cost convention and in accordance with the Charilies Act 2011, the Charities Act 2022 Iwhere relevantl and with the Statement of Recommended Practice- Accounting and Reporting by Charities preporing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019. The financial statements are presented in pounds sterling which is the functional currency of the Charity and rounded to the nearest £000. The significant accounting policles applied in the preparation of these financial statements are Set out below. These policies have been consisiently applied to all years presented unless otherwise stated. Accounting policies la) Going concern Having considered the levels of fund5 held and the level of income and experKliture. tO8ether with the level of reserves of the charity, the Trustees consider the adoption of the going concern basis in preparing these financial statements is appropriate. (b} 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 Charity and which have not been designated for other purpose5. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal. Where permitted, the costs associated with raising and managing the restricted funds are charged to the restricted funds. 20
THE KALGIDHAR TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 20251continued) (c) Incoming resources All incoming resources are included in the Statement of Financial Activities when the Charitv 15 legally entitled to the income and the amount can be quantified with reasonable acturacy. For legacie5, entitlement is the earlier of the Charity being notified of an impending distribution or the legacy being received. Gifts in kind donated for dlstribution 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. Donated facilities are included at the value to the Charity where this can be quantified and a third Party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers. (d) Resources expended All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs canriot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with use of the resources. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminatlng infomiation in support of the charitable artivitie5. Support costs are those costs incurred directly in support of expenditure on the objert5 of the Charity. (e) Finantial Instruments The Charity only has financial assets and financial liabilities of a kind that qualify a5 basic financial instruments. Basit financial instruments are recognised at transaction value, except where settlement is delayed, in which case the transaction is recognised at the present value of the settlement amount. (n Donated service5 Donaled professional 5eNices are reco8nised in income at their fair value when their economic benefit is probable, it can be measured reliably and the Charity has control over the item. Fair value is determined on the basis of the value of the gift to the Charity. A corresponding amount is recognised in expenditure. 21
THE KALGIDHAR TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 20251continued) Ig) Debtors and creditors receivable / payable withln one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised as experbditure. Ih) Cash and cash equivalents Cash is represerbted by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. li) Voluntary help The Charity benefits from many voluntary hours and unclaimed out-of-pocket expenses. No amount is included in these financial statements for these voluntary hours and unclaimed expenses. Without the effort and devotion of the volunteers the Charity would not be able to carry out successful fund- raising events. 22
THE KALGIDHAR TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 (continued) 3 Income 2025 2024 £'ooo Donations and gifts from individuals 1,147 1,050 GiftAid 190 129 1.337 1.179 4 Total resources expended Dirert Cost5 2025 Oirrft Costs 2024 £'ooo £'ooo Legal & professional charges Travel & subsistence Support costs Salaries and Wages (Note 6) Donations out 62 121 1,057 50 87 966 Total resources expended 1,248 I,iii Support costs include £Nil12024- £4,5(K)l in relation to the premises cost. as the charity relocated to the new premises and the charity was benefited with the waived rental c05t during the transitional move period. RSA Associates IReporting Accountants-sole Proprietorship of Mr R S Attwal ITrusteell who have always provided their services free of cost to The Kalgidhar Trust and who share part of the premises with The KalgidharTrust. have contributed £Nil12024- £4,500) towards the CDSt5, as no such contribution was required in the view of the fact that charity incurred no prem ises cost during YE July 2025. Any additional contributions by Mr R S Attwal and family are reported in donations and related party disclosures INote 111. S Audltorfs Remuneration 2025 2024 £'ooo Fees payable to the Charity's auditor for the audit of the Charity's annual accounts 23
THE KALGIDHAR TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 Icontinued) 6 Staff costs 2025 2024 £'ooo 82 Wages & salaries Social security costs 112 121 87 The number of employees whose emoluments as defined for taxation purposes amounted to over £60,000 in the period wa5 Nil12024- NIL). The Trustees did not receive any remuneration from the Charity for their services in the current or prior year. During the year the Charity had an average of 5 employees12024- 3 employees). 7 Debtors 2025 £'ooo 2024 Amounts owed from related parties Other debtors ios 43 105 43 8 Creditors 2025 £'ooo 2024 £'ooo Amounts owed to related parties Accrua15 Trade Creditors Other creditors Taxation and social security li 32 17 20 32 58 24
THE KALGIDHAR TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 (Continued) 9 Fund Reconaliation Atl August 2024 £'ooo At 31 Julv 2025 £'ooo Income 2025 £'ooo Expenditure 2025 £'ooo Restricted Funds Unrestrirted Funds General Funds Total net assets 32 769 17401 61 115 568 15081 11,2481 175 147 1,337 236 General Funds represent the unrestricted funds, which are not designated for particular purposes. Restricted funds amounling to £34,401 12024 - £44,718) were received for Guru Ki Kashi Akal University Project and £1,050,00012024 - £950,000) were remitted to The Kalgidhar Trust, India from restricted and unreslricted funds. During the year £558,75512024- £485,614) Df fund5 were received for the Educate to Save Project, £Nil12024 - £501 were received for Akol Charitable H05Pltal and £860 12024 - £3.469I were received for Computer Donation appeals. In addition, £175,00012024 - £Nill were received in support of Akaal Academies and raised throLJgh the 'Walk for Change. Fund Raising event organi5ed in UK and £Nil12024 £17,028) were received for Punjab Flood relief. 10 Analysis of net a55ets between funds Unrestrlcted funds £'ooo Restrirted funds £'ooo Total £'ooo Debtors 105 ios Cash at bank 102 61 163 Creditors 1321 175 1321 236 61 25
THE KALGIDHAR TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 (Continued) 11 Related party di5cIosures Individual donations were received from the Trustees.. Mr R S Rai (family business) an amount of £51,80012024 - £72,294) and from Mr RS Attwal and family an amount of £4,70012024 - £14,560) Total donations of £1,050,00012024- £950,000) were paid toThe KalgidhArTrust Ilndial- a re81Stered charity in India. in which Dr Baba Davinder Singh is the trustee and the present Chairman of the The Kalgidhar Trust Ilndial and he is a150 a trustee in The Kalgidhar Trust in the UK. The Trustees did not receive any remuneration and were not reimbursed any expenses from the Charity for their services ir> the current or prior year. Donations of £6,64112024 - £15,9711 were made to Sangat Trust lin which Mr R S Attwal is also a Trustee) and advertising payments of £47,87712024 - £41,634) were made to Sangat TV (which is a wholly owned subsidiary of Sangat Trustl. Additionally, donations of £12,83012024- £3,9601 were received from the Oooa Foundation, in which Mr R S Attwal is a trustee. 12 Operating Lease Commitment With effect from l April 2025, the Charity has entered into a new lease agreement for the premises (First Floor office Suite 3, Arrow Business Centre, Perivale, UB6 7LAI until 31 March 2027 with a peppercom monthly rent commitment of£1 + VAT. 13 Controlllng party The Trustees consider that the Trust 15 jointly controlled by the Trustees and there is no ultimate controlling party. 26
THE KALGIDHAR TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 {Continued) 14 Financial Instruments The carryin8 amounts of the Chariws financial instruments are as follows.. 2025 2024 £'ooo Financial assets Measured at fair value through SOFA.. Cash at bank and in hand 163 162 Measured at amortised c05t'. Debtors 105 43 Financial liabilities Measured at amort15ed cost: Creditors 32 58 27