REGISTERED CHARITY NUMBER: 1081931
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
FOR
RAMGARHIA BOARD
(LEICESTER & LEICESTERSHIRE)
RAMGARHIA BOARD
(LEICESTER & LEICESTERSHIRE)
CONTENTS OF THE FINANCIAL STATEMENTS For The Year Ended 31 March 2023
|
|
Page |
|
Reference and Administrative Details |
|
1 |
|
Report of the Trustees |
2 |
to |
4 |
Report of the Independent Auditors |
5 |
to |
7 |
Statement of Financial Activities |
|
8 |
|
Balance Sheet |
|
9 |
|
Cash Flow Statement |
|
10 |
|
Notes to the Cash Flow Statement |
|
11 |
|
Notes to the Financial Statements |
12 |
to |
20 |
Detailed Statement of Financial Activities |
21 |
to |
22 |
RAMGARHIA BOARD
(LEICESTER & LEICESTERSHIRE)
REFERENCE AND ADMINISTRATIVE DETAILS
For The Year Ended 31 March 2023
TRUSTEES |
I S Panesar - President |
|
H S Jagdev - Vice President |
|
K S Sagoo - Secretary |
|
S S Panesar - Treasurer |
|
S S Sehmi |
|
M S Reyat |
|
A S Matharu |
|
M S Riyat |
|
G S Gahir |
|
S S Reehal |
|
Dr H S Virdee |
|
A S Hanspal |
|
J S Matharu |
|
S S Hanspal |
|
G S Bahra |
|
H S Kundra |
|
R S Panesar |
|
M S Dhiraj |
|
H S Juss |
|
M S Panesar |
|
J S Chana (resigned 21.11.22) |
PRINCIPAL ADDRESS |
51 Meynell Road |
|
Leicester |
|
LE5 3NE |
REGISTERED CHARITY NUMBER |
1081931 |
AUDITORS |
TC Group |
|
31 High View Close |
|
Hamilton Office Park |
|
Leicester |
|
Leicestershire |
|
LE4 9LJ |
Page 1
RAMGARHIA BOARD
(LEICESTER & LEICESTERSHIRE)
REPORT OF THE TRUSTEES
For The Year Ended 31 March 2023
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended
31March2023.ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordance
withtheFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective 1
January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Thecharity'sobjectsaretoadvancethesikhreligioninthecommunityofLeicesterbytheprovisionof the
Gurdwaratobeknownas"RamgarhiaSikhGurdwaraLeicester".Torelievepovertyandsicknessand to
advanceeducationforthebenefitofthepublic.Toprovidefacilitiesforrecreationalandother activities
with a view to improving the conditions of life for the said community and the wider community.
Thecharityhascontinuedtoprovidevariousreligiousandsocialactivitiesthroughitsworkforthesikh and
widercommunityofLeicester.Thisincludedreligiousfestivals,sportingandotheractivitiesand the
provision of a community centre for the elderly. There has been no change in these during the year.
Thecharityisdependentonthecontinuedserviceofunpaidvolunteersinallaspectsofthe charity's
activities. The contribution in terms of hours cannot be accurately quantified in this respect.
Public benefit
Thesectionofthisreportentitled"Objectivesandactivities"setsouttheobjectsandaimsofthe charity.
Thetrusteeshaveconsideredthis,inconjunctionwiththeguidanceintheCharityCommission's general
guidance on public benefit, and have concluded that:
-
the aims of the charity continue to be charitable;
-
the work done by the charity gives identifiable benefits to the charitable sector and both directly and
-
indirectly to individuals in need;
-
the benefits are for the public; not unreasonably restricted in any way;
-
there is no detriment or harm arising from the aims or activities.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
DuringtheyearthecharitycontinuedtoprovideGurdwaraservicesthatwereavailabletothepublic all
yearround.Inaddition,thecharitycanprovideprieststhatcanprovidereligiousandeducational services
forthepublicawayfromtheGurdwara.TheGurdwaraalsocontinuedtocelebrateallthemain Sikh
festivalsandprovidededucationofsuchfestivalsforthepublicaswellasencouragingsocial interaction
within the community.
Fundraising activities
In2023theRamgarhiaBoard(Leicester&Leicestershire)reportsanincreaseinthelevelof voluntary
incomereceivedtomeetitsobjectives.Donationsandcollectionsof£424,573(2022-£315,203) were
received and the total incoming resources from generated funds amounted to £704,615 (2022 - £573,626).
Totalvoluntaryincomereceived(includingGiftAid)increasedby36.3%comparedtoanincreaseof 67.7%
in 2022.
Incomefromcharitableactivitiesincreasedby£14,947to£132,640(2022-increaseof£117,693).Since the
easingoftheCovid-19restrictionstherehasbeenanoticeableincreaseinboththeincome from
donations and hall hire. Income from hall hire was £132,640 (2022 - £111,991).
Income from the rental of the car park was £42,000 (2022 - £42,000).
Page 2
RAMGARHIA BOARD
(LEICESTER & LEICESTERSHIRE)
REPORT OF THE TRUSTEES
For The Year Ended 31 March 2023
FINANCIAL REVIEW
Financial position
Thetrusteesconsiderthattheunrestrictedandrestrictedfundsofthecharityhavesufficientresources and
assetsavailablethatareadequatetofulfiltheirobligations.TheyarepleasedthatpostCovid-19there is
significantincreaseinboththeincomefromdonationsandthehireofthecommunityhallduringthe year
to expected levels.
Net incoming resources for the year were £271,989 compared with £305,379 in 2022.
Incomefromdonations(inclGiftAid)increasedby£141,037.Incomefromthehireofthehallduring the
year was £132,640 (2022 - £111,991).
Itisthepolicyofthecharitythatunrestrictedfunds,whichhavenotbeendesignatedforaspecific use,
shouldbemaintainedatalevelequivalenttooneyear'sexpenditure.Thetrusteesconsiderthatreserves at
thislevelwillensurethatintheeventofasignificantdropinfundingtheywillbeabletocontinue the
charity'sexistingactivitieswhileconsiderationisgiventowaysinwhichadditionalfundsmayberaised. At
theendofthefinancialyear,thefreereservesavailablewere(£296,788)comparedwith(£156,988)at 31
March 2022.
FUTURE PLANS
During2021therewasasetbackintheGurdwaraprojectduetotheimpactofCovid-19, increasing
materialcostsandtheterminationofthecontractwiththemaincontractor.Theprojectisbackon track
now. During the year a new contractor was appointed and the completion is scheduled for June 2023.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity was established by a charitable trust deed on 20 February 2000 as amended on 23 July 2000.
Recruitment and appointment of new trustees
Trusteesareappointedoncetheyhavebeennominatedbythemembersandthecongregationof the
charity.Thecharity,ifnecessary,willappointtrusteesbyelectionthroughaballotifmorethan one
member is nominated.
Newtrusteesareinductedandtrainedbymoreexperiencedexistingtrusteesincludingthe President,
General Secretary and Treasurer.
ThecharityisheadedbytheRamgarhiaBoard(Leicester&Leicestershire)andoperatesthrougha number
ofsub-projectswhichincludeaGurdwara,communitycentre,seniorcitizensclub,socialsisters club,
punjabischoolandsportingactivitiesclub.Decisionsontheday-to-dayrunningofthecharityaretaken by
common consensus of the management committee in accordance with the constitution.
Thetrusteeshaveassessedthemajorriskstowhichthecharityisexposed,andaresatisfiedthatsystems are
in place to mitigate exposure to the major risks.
FUNDS HELD AS CUSTODIAN FOR OTHERS
Custodian trustees are responsible for the safe keeping of the freehold land and buildings of the charity.
Custodian Trustees
Dr H S Virdee
A S Hanspal
J S Matharu
M S Virdee (resigned 18 April 2019)
S S Hanspal
G S Bahra
Page 3
RAMGARHIA BOARD (LEICESTER & LEICESTERSHIRE)
REPORT OF THE TRUSTEES For The Year Ended 31 March 2023
STATEMENT OF TRUSTEES' RESPONSIBILITIES
ThetrusteesareresponsibleforpreparingtheReportoftheTrusteesandthefinancialstatements in
accordancewithapplicablelawandUnitedKingdomAccountingStandards(UnitedKingdom Generally
Accepted Accounting Practice).
ThelawapplicabletocharitiesinEnglandandWales,theCharitiesAct2011,Charity(Accounts and
Reports)Regulations2008andtheprovisionsofthetrustdeedrequiresthetrusteestoprepare financial
statementsforeachfinancialyearwhichgiveatrueandfairviewofthestateofaffairsofthecharity and
oftheincomingresourcesandapplicationofresources,includingtheincomeandexpenditure,of the
charity for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards 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 charity will continue in business.
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewith reasonable
accuracyatanytimethefinancialpositionofthecharityandtoenablethemtoensurethatthe financial
statementscomplywiththeCharitiesAct2011,theCharity(AccountsandReports)Regulations2008 and
theprovisionsofthetrustdeed.Theyarealsoresponsibleforsafeguardingtheassetsofthecharity and
hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 26 January 2024 and signed on its behalf by:
I S Panesar - President - Trustee
Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
RAMGARHIA BOARD
(LEICESTER & LEICESTERSHIRE)
Opinion
WehaveauditedthefinancialstatementsofRamgarhiaBoard(Leicester&Leicestershire)(the'charity') for
theyearended31March2023whichcomprisetheStatementofFinancialActivities,theBalance Sheet,
theCashFlowStatementandnotestothefinancialstatements,includingasummaryof significant
accountingpolicies.Thefinancialreportingframeworkthathasbeenappliedintheirpreparation is
applicablelawandUnitedKingdomAccountingStandards(UnitedKingdomGenerally Accepted
Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 31 March 2023 and of its incoming resources and application of resources, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK)) and
applicablelaw.Ourresponsibilitiesunderthosestandardsarefurtherdescribedinthe Auditors'
responsibilitiesfortheauditofthefinancialstatementssectionofourreport.Weareindependentof the
charityinaccordancewiththeethicalrequirementsthatarerelevanttoourauditofthe financial
statementsintheUK,includingtheFRC'sEthicalStandard,andwehavefulfilledourother ethical
responsibilitiesinaccordancewiththeserequirements.Webelievethattheauditevidencewe have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
Inauditingthefinancialstatements,wehaveconcludedthatthetrustees'useofthegoingconcern basis
of accounting in the preparation of the financial statements is appropriate.
Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelating to
eventsorconditionsthat,individuallyorcollectively,maycastsignificantdoubtonthecharity'sability to
continueasagoingconcernforaperiodofatleasttwelvemonthsfromwhenthefinancial statements
are authorised for issue.
Ourresponsibilitiesandtheresponsibilitiesofthetrusteeswithrespecttogoingconcernaredescribed in
the relevant sections of this report.
Other information
Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisesthe information
includedintheAnnualReport,otherthanthefinancialstatementsandourReportofthe Independent
Auditors thereon.
Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttothe extent
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheother information
and,indoingso,considerwhethertheotherinformationismateriallyinconsistentwiththe financial
statementsorourknowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.If we
identifysuchmaterialinconsistenciesorapparentmaterialmisstatements,wearerequiredto determine
whetherthisgivesrisetoamaterialmisstatementinthefinancialstatementsthemselves.If,basedon the
workwehaveperformed,weconcludethatthereisamaterialmisstatementofthisotherinformation, we
are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
WehavenothingtoreportinrespectofthefollowingmatterswheretheCharities(Accountsand Reports)
Regulations 2008 requires us to report to you if, in our opinion:
-
the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
-
sufficient accounting records have not been kept; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
we have not received all the information and explanations we require for our audit.
Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
RAMGARHIA BOARD
(LEICESTER & LEICESTERSHIRE)
Responsibilities of trustees
AsexplainedmorefullyintheStatementofTrustees'Responsibilities,thetrusteesareresponsiblefor the
preparationofthefinancialstatementswhichgiveatrueandfairview,andforsuchinternalcontrolas the
trusteesdetermineisnecessarytoenablethepreparationoffinancialstatementsthatarefree from
material misstatement, whether due to fraud or error.
Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharity'sability to
continueasagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusing the
goingconcernbasisofaccountingunlessthetrusteeseitherintendtoliquidatethecharityorto cease
operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
WehavebeenappointedasauditorsunderSection144oftheCharitiesAct2011andreport in
accordance with the Act and relevant regulations made or having effect thereunder.
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawhole are
freefrommaterialmisstatement,whetherduetofraudorerror,andtoissueaReportofthe Independent
Auditorsthatincludesouropinion.Reasonableassuranceisahighlevelofassurance,butisnot a
guaranteethatanauditconductedinaccordancewithISAs(UK)willalwaysdetecta material
misstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterial if,
individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencetheeconomic decisions
of users taken on the basis of these financial statements.
Theextenttowhichourproceduresarecapableofdetectingirregularities,includingfraudis detailed
below:
Weobtainedanunderstandingofthelegalandregulatoryframeworksthatareapplicabletothe charity
anddeterminedthatthemostsignificantframeworkswhicharedirectlyrelevanttospecificassertions in
the financial statements are those that relate to the reporting framework.
Weunderstoodhowthecharityiscomplyingwiththoseframeworksbymakingenquiriesof management
andthoseresponsibleforlegalandcomplianceprocedures.Wecorroboratedourenquiriesthrough review
of board minutes and discussions with those charged with governance.
Weassessedthesusceptibilityofthecharity'sfinancialstatementstomaterialmisstatement,including how
fraudmightoccur,bydiscussionwithmanagementfromvariouspartsofthebusinesstounderstand where
theyconsideredtherewasasusceptibilitytofraud.Weconsideredtheproceduresandcontrolsthat the
charityhasestablishedtopreventanddetectfraud,andhowthesearemonitoredbymanagement, and
also any enhanced risk factors such as performance targets.
Basedonourunderstanding,wedesignedourauditprocedurestoidentifyanynon-compliancewith laws
and regulations identified in the paragraphs above.
Wealsoperformedauditworkovertheriskofmanagementoverrideofcontrols,includingtestingof journal
entriesandotheradjustmentsforappropriateness,evaluatingthebusinessrationaleof significant
transactions outside the normal course of business and reviewing accounting estimates for bias.
Becauseoftheinherentlimitationsofanaudit,thereisariskthatwewillnotdetectall irregularities,
includingthoseleadingtoamaterialmisstatementinthefinancialstatementsornon-compliance with
regulation.Thisriskincreasesthemorethatcompliancewithalaworregulationisremovedfrom the
eventsandtransactionsreflectedinthefinancialstatements,aswewillbelesslikelytobecomeaware of
instancesofnon-compliance.Theriskisalsogreaterregardingirregularitiesoccurringduetofraud rather
than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
Afurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedon the
FinancialReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.Thisdescriptionforms part
of our Report of the Independent Auditors.
Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
RAMGARHIA BOARD
(LEICESTER & LEICESTERSHIRE)
Use of our report
Thisreportismadesolelytothecharity'strustees,asabody,inaccordancewithPart4ofthe Charities
(AccountsandReports)Regulations2008.Ourauditworkhasbeenundertakensothatwemightstate to
thecharity'strusteesthosematterswearerequiredtostatetotheminanauditors'reportandforno other
purpose.Tothefullestextentpermittedbylaw,wedonotacceptorassumeresponsibilitytoanyone other
thanthecharityandthecharity'strusteesasabody,forourauditwork,forthisreport,orforthe opinions
we have formed.
TC Group
31 High View Close
Hamilton Office Park
Leicester
Leicestershire
LE4 9LJ
29.01.2024 Date: .............................................
Page 7
(LEICESTER & LEICESTERSHIRE)
RAMGARHIA BOARD
STATEMENT OF FINANCIAL ACTIVITIES
For The Year Ended 31 March 2023
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
5
Hall hire
Sale of tickets and Senior Citizen Club
Other trading activities
3
Investment income
4
Other income
Total
EXPENDITURE ON
Raising funds
6
Charitable activities
7
Hall hire
Sale of tickets and Senior Citizen Club
Governance
Mortgage interest
Total
NET INCOME
Transfers between funds
19
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
fund
£
324,002
132,640
-
42,000
6
-
498,648
162,299
91,047
-
7,560
171,720
432,626
66,022
205,967
271,989
4,672,489
4,944,478 |
Restricted
fund
£
205,967
-
-
-
-
-
205,967
-
-
-
-
-
-
205,967
(205,967)
-
-
- |
2023
Total
funds
£
529,969
132,640
-
42,000
6
-
704,615
162,299
91,047
-
7,560
171,720
432,626
271,989
-
271,989
4,672,489
4,944,478 |
2022
Total
funds
£
388,932
111,991
5,702
42,000
1
25,000 |
|
|
|
|
573,626 |
|
|
|
|
117,603
44,439
4,675
8,702
92,828 |
|
|
|
|
268,247 |
|
|
|
|
305,379
- |
|
|
|
|
305,379
4,367,110 |
|
|
|
|
4,672,489 |
The notes form part of these financial statements
Page 8
RAMGARHIA BOARD
(LEICESTER & LEICESTERSHIRE)
BALANCE SHEET 31 March 2023
Notes
FIXED ASSETS
Tangible assets
12
CURRENT ASSETS
Debtors
13
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one
year
15
NET ASSETS
FUNDS
19
Unrestricted funds
TOTAL FUNDS |
2023
£
8,580,820
14,240
41,051
55,291
(352,079)
(296,788)
8,284,032
(3,339,554)
4,944,478
4,944,478
4,944,478 |
2022
£
7,672,857
25,209
14,486
39,695
(196,683)
(156,988)
7,515,869
(2,843,380)
4,672,489
4,672,489
4,672,489 |
|
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
26 January 2024 and were signed on its behalf by:
I S Panesar - President - Trustee
K S Sagoo - Secretary - Trustee
S S Panesar - Treasurer - Trustee
The notes form part of these financial statements
Page 9
RAMGARHIA BOARD (LEICESTER & LEICESTERSHIRE)
CASH FLOW STATEMENT For The Year Ended 31 March 2023
Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Cash flows from financing activities
New loans in year
Loan repayments in year
Net cash provided by financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period |
2023
£
631,427
(172,925)
458,502
(919,678)
6
(919,672)
499,029
(11,294)
487,735
26,565
14,486
41,051 |
2022
£
372,338
(93,659)
278,679
(999,702)
1
(999,701)
524,160
(61,036)
463,124
(257,898)
272,384
14,486 |
|
|
|
The notes form part of these financial statements
Page 10
RAMGARHIA BOARD
(LEICESTER & LEICESTERSHIRE)
NOTES TO THE CASH FLOW STATEMENT For The Year Ended 31 March 2023
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
Net income for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Interest paid
Decrease in debtors
Increase/(decrease) in creditors
Net cash provided by operations |
2023
£
271,989
11,716
(6)
172,925
10,969
163,834
631,427 |
2022
£
305,379
13,142
(1)
93,659
22,971
(62,812)
372,338 |
|
|
|
2. ANALYSIS OF CHANGES IN NET DEBT
|
At 1.4.22 |
Cash flow |
At 31.3.23 |
|
£ |
£ |
£ |
Net cash |
|
|
|
Cash at bank and in hand |
14,486 |
26,565 |
41,051 |
|
14,486 |
26,565 |
41,051 |
Debt |
|
|
|
Debts falling due within 1 year |
(8,438) |
8,438 |
- |
Debts falling due after 1 year |
(2,843,380) |
(496,174) |
(3,339,554) |
|
(2,851,818) |
(487,736) |
(3,339,554) |
Total |
(2,837,332) |
(461,171) |
(3,298,503) |
The notes form part of these financial statements
Page 11
RAMGARHIA BOARD
(LEICESTER & LEICESTERSHIRE)
NOTES TO THE FINANCIAL STATEMENTS For The Year Ended 31 March 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in
accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicof Ireland
(FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancial Reporting
StandardapplicableintheUKandRepublicofIreland'andtheCharitiesAct2011.The financial
statements have been prepared under the historical cost convention.
Income and endowments
Voluntaryincomeincludingdonations,gifts,legaciesandgrantsthatprovidecorefundingorare of
ageneralnatureisrecognisedintheStatementofFinancialActivitiesoncethecharity has
entitlementtothefunds,itisprobablethattheincomewillbereceivedandtheamountcan be
measured reliably.
Donations and legacies
Donationsandlegaciesarerecognisedonareceivablebasiswhenreceiptisprobableand the
amount can be reliably measured.
Gift aid
IncomingresourcesfromtaxreclaimsareincludedintheStatementofFinancialActivitiesat the
same time as the gift to which they relate.
Government grants
GovernmentgrantsrelatingtotheCoronavirusJobRetentionSchemearerecognisedinincome in
the period in which it becomes receivable under the performance model.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefits will
berequiredinsettlementandtheamountoftheobligationcanbemeasuredreliably. Expenditure
isaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all
costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadings they
have been allocated to activities on a basis consistent with the use of resources.
Raising funds
Thesearecostsincurredinattractingvoluntaryincome,themanagementofinvestmentsand those
incurred in trading activities that raise funds.
Charitable activities
Charitableexpenditurecomprisesthosecostsincurredbythecharityinthedeliveryofits activities
andservicesforitsbeneficiaries.Itincludesbothcoststhatcanbeallocateddirectlyto such
activities and those costs of an indirect nature necessary to support them.
Governance costs
Theseincludethecostsattributabletothecharity’scompliancewithconstitutionaland statutory
requirements,includingaudit,strategicmanagementandtrustees’smeetingsand reimbursed
expenses.
Support costs
Supportcostsincludecentralfunctionsandhavebeenallocatedtoactivitycostcategorieson a
basisconsistentwiththeuseofresources,forexample,allocatingpropertycostsbyfloorareas, or
per capita, staff costs by the time spent and other costs by their usage.
continued...
Page 12
RAMGARHIA BOARD
(LEICESTER & LEICESTERSHIRE)
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023
1. ACCOUNTING POLICIES - continued
Tangible fixed assets
Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its
estimated useful life.
Freehold property- not provided
Fixtures, fittings and equipment- 15% on reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretion of
the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted
purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
Hire purchase and leasing commitments
RentalspaidunderoperatingleasesarechargedtotheStatementofFinancialActivitieson a
straight line basis over the period of the lease.
Going concern
TheTrusteeshaveconsideredtherecentincreasesininterestratesandthenetcurrent liability
positionofthecharityasat31March2023inrelationtotheirassessmentofgoingconcern. Taking
thisintoaccount,thetrusteesconsiderthattherearenomaterialuncertaintiesaboutthe charity's
ability to continue as a going concern.
BORROWINGS
Interest-bearingborrowingsareinitiallyrecordedatfairvalue,netoftransaction costs.
Interest-bearingborrowingsaresubsequentlycarriedatamortisedcost,withthe difference
betweentheproceeds,netoftransactioncosts,andtheamountdueonredemption being
recognised as a charge to the over the period of the relevant borrowing.
Interestexpenseisrecognisedonthebasisoftheeffectiveinterestmethodandisincluded in
interest payable and similar charges.
Borrowingsareclassifiedascurrentliabilitiesunlessthehasanunconditionalrightto defer
settlement of the liability for at least twelve months after the reporting date.
continued...
Page 13
RAMGARHIA BOARD
(LEICESTER & LEICESTERSHIRE)
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023
2. DONATIONS AND LEGACIES
Donations
Gift aid
3.
OTHER TRADING ACTIVITIES
Rents received
4.
INVESTMENT INCOME
Deposit account interest
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Hall hire
Hall hire
Sporting activities
Hall hire
Sale of tickets and Senior
Citizen Club
Sale of tickets and Senior Citizen Club
6.
RAISING FUNDS
Raising donations and legacies
Staff costs
Rent
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Repairs and maintenance
Subscriptions
Donations
Siropas
Langar, parshad and sundries
Cleaning and waste disposal
Advertising
Bank charges
Website costs
Security costs
Carried forward |
2023
£
424,573
105,396
529,969
2023
£
42,000
2023
£
6
2023
£
131,340
1,300
-
132,640
2023
£
31,425
39,000
167
1,281
42,347
1,317
19
3,957
100
300
2,785
25,248
3,524
55
10,534
240
-
162,299 |
2022
£
315,203
73,729 |
2022
£
315,203
73,729 |
|
|
388,932 |
|
|
|
2022
£
42,000
2022
£
1
2022
£
111,191
800
5,702 |
2022
£
42,000 |
|
|
117,693 |
|
|
|
2022
£
23,994
33,750
121
1,098
15,706
1,223
54
1,295
200
100
12,457
15,036
1,594
184
9,718
65
1,008 |
|
|
|
117,603 |
|
continued...
Page 14
RAMGARHIA BOARD
(LEICESTER & LEICESTERSHIRE)
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023
6. RAISING FUNDS - continued
Raising donations and legacies - continued
Brought forward |
2023
£
162,299
162,299 |
2022
£
117,603 |
|
|
117,603 |
7. CHARITABLE ACTIVITIES COSTS
CHARITABLE ACTIVITIES COSTS |
|
|
|
Hall hire
Governance
Mortgage interest |
Direct
Costs
£
91,047
-
171,720
262,767 |
Support
costs (see
note 8)
£
-
7,560
-
7,560 |
Totals
£
91,047
7,560
171,720 |
|
|
|
270,327 |
8. SUPPORT COSTS
SUPPORT COSTS |
|
|
|
|
|
|
Governance |
|
|
|
costs |
|
|
|
£ |
Governance |
|
|
7,560 |
Support costs, included in the above, are as follows: |
|
|
|
|
2023 |
|
2022 |
|
|
|
Total |
|
Governance |
|
activities |
|
£ |
|
£ |
Auditors' remuneration |
6,750 |
|
6,000 |
Accountancy and legal fees |
|
810 |
2,702 |
|
7,560 |
|
8,702 |
9. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2023norfor the
year ended 31 March 2022.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31March2023norfortheyear ended
31 March 2022.
continued...
Page 15
RAMGARHIA BOARD
(LEICESTER & LEICESTERSHIRE)
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023
10. STAFF COSTS
Wages and salaries
The average monthly number of employees during the year w
Administration
Gianis
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Hall hire
Sale of tickets and Senior Citizen Club
Other trading activities
Investment income
Other income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Hall hire
Sale of tickets and Senior Citizen Club
Governance
Mortgage interest
Total
NET INCOME
Transfers between funds
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward |
as as follows:
Unrestricted
fund
£
345,751
111,991
-
42,000
1
25,000
524,743
117,603
44,439
-
8,702
92,828
263,572
261,171
44,208
305,379
4,367,110 |
|
2023
£
31,425
31,425
2023
-
2
2
Restricted
fund
£
43,181
-
5,702
-
-
-
48,883
-
-
4,675
-
-
4,675
44,208
(44,208)
-
- |
|
2022
£
28,669
28,669
2022
1
3
4
Total
funds
£
388,932
111,991
5,702
42,000
1
25,000 |
|
|
|
|
|
573,626 |
|
|
|
|
|
117,603
44,439
4,675
8,702
92,828 |
|
|
|
|
|
268,247 |
|
|
|
|
|
305,379
- |
|
|
|
|
305,379
4,367,110 |
|
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
continued...
Page 16
RAMGARHIA BOARD
(LEICESTER & LEICESTERSHIRE)
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2023
11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
TOTAL FUNDS CARRIED FORWARD
12.
TANGIBLE FIXED ASSETS
COST
At 1 April 2022
Additions
At 31 March 2023
DEPRECIATION
At 1 April 2022
Charge for year
At 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 31 March 2022
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Prepayments and accrued income |
11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
TOTAL FUNDS CARRIED FORWARD
12.
TANGIBLE FIXED ASSETS
COST
At 1 April 2022
Additions
At 31 March 2023
DEPRECIATION
At 1 April 2022
Charge for year
At 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 31 March 2022
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Prepayments and accrued income |
- continued
Unrestricted
fund
£
4,672,489
Freehold
property
£
7,598,387
916,045
8,514,432
-
-
-
8,514,432
7,598,387 |
|
Restricted
fund
£
-
Fixtures,
fittings
and
equipment
£
504,548
3,633
508,181
430,078
11,715
441,793
66,388
74,470
2023
£
11,568
2,672
14,240 |
|
Total
funds
£ |
|
|
|
|
|
|
4,672,489 |
|
|
|
|
|
|
Totals
£
8,102,935
919,678
9,022,613
430,078
11,715
441,793
8,580,820
7,672,857
2022
£
22,075
3,134
25,209 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
continued...
Page 17
RAMGARHIA BOARD
(LEICESTER & LEICESTERSHIRE)
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2023
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 16)
Trade creditors
Taxation and social security
Other creditors
15.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 16)
16.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling due between two and five years:
Bank loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
17.
LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due
Within one year
18.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Restricted
fund
fund
£
£
Fixed assets
8,580,820
-
Current assets
55,291
-
Current liabilities
(352,079)
-
Long term liabilities
(3,339,554)
-
4,944,478
- |
2023
£
-
68,160
3,296
280,623
352,079
2023
£
3,339,554
2023
£
-
44,301
3,295,253
as follows:
2023
£
13,000
2023
Total
funds
£
8,580,820
55,291
(352,079)
(3,339,554)
4,944,478 |
2022
£
8,438
36,985
4,541
146,719
196,683
2022
£
2,843,380
2022
£
8,438
42,192
2,801,188
2022
£
39,000
2022
Total
funds
£
7,672,857
39,695
(196,683)
(2,843,380)
4,672,489 |
|
|
|
continued...
Page 18
RAMGARHIA BOARD
(LEICESTER & LEICESTERSHIRE)
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2023
19. MOVEMENT IN FUNDS
Net
movement
At 1.4.22
in funds
£
£
Unrestricted funds
General fund
4,672,489
66,022
Restricted funds
Donations and grants
-
205,967
TOTAL FUNDS
4,672,489
271,989
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
498,648
Restricted funds
Donations and grants
205,967
TOTAL FUNDS
704,615
Comparatives for movement in funds
Net
movement
At 1.4.21
in funds
£
£
Unrestricted funds
General fund
4,367,110
261,171
Restricted funds
Donations and grants
-
44,208
TOTAL FUNDS
4,367,110
305,379 |
Transfers
between
funds
£
205,967
(205,967)
-
Resources
expended
£
(432,626)
-
(432,626)
Transfers
between
funds
£
44,208
(44,208)
- |
At
31.3.23
£
4,944,478
-
4,944,478
Movement
in funds
£
66,022
205,967
271,989
At
31.3.22
£
4,672,489
-
4,672,489 |
|
|
|
continued...
Page 19
RAMGARHIA BOARD
(LEICESTER & LEICESTERSHIRE)
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2023
19. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Donations and grants
TOTAL FUNDS |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
524,743
(263,572)
261,171
48,883
(4,675)
44,208
573,626
(268,247)
305,379 |
|
|
20. RELATED PARTY DISCLOSURES
Othercreditorsincludesloansfrommemberstotalling£190,000(2022-£100,000).Theloansdo not
attract any interest.
Page 20
RAMGARHIA BOARD
(LEICESTER & LEICESTERSHIRE)
DETAILED STATEMENT OF FINANCIAL ACTIVITIES For The Year Ended 31 March 2023
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Other trading activities
Rents received
Investment income
Deposit account interest
Charitable activities
Sale of tickets and Senior Citizen Club
Hall hire
Sporting activities
Other income
Insurance claims
Total incoming resources
EXPENDITURE
Raising donations and legacies
Wages
Rent
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Repairs and maintenance
Subscriptions
Donations
Siropas
Langar, parshad and sundries
Cleaning and waste disposal
Advertising
Bank charges
Website costs
Security costs |
2023
£
424,573
105,396
529,969
42,000
6
-
131,340
1,300
132,640
-
704,615
31,425
39,000
167
1,281
42,347
1,317
19
3,957
100
300
2,785
25,248
3,524
55
10,534
240
-
162,299 |
2022
£
315,203
73,729 |
|
|
388,932
42,000
1
5,702
111,191
800 |
|
|
117,693
25,000 |
|
|
573,626
23,994
33,750
121
1,098
15,706
1,223
54
1,295
200
100
12,457
15,036
1,594
184
9,718
65
1,008 |
|
|
117,603 |
This page does not form part of the statutory financial statements
Page 21
(LEICESTER & LEICESTERSHIRE)
RAMGARHIA BOARD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
For The Year Ended 31 March 2023
Raising donations and legacies
Charitable activities
Wages
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Advertising
Sundries
Hall supervision
Security costs
Events
Repairs and maintenance
Cleaning and waste disposal
Bank charges
Depreciation of fixtures and fittings
Bank loan interest
Mortgage interest
Support costs
Governance costs
Auditors' remuneration
Accountancy and legal fees
Total resources expended
Net income |
2023
£
-
5,920
4,346
18,167
969
145
1,330
4,054
7,415
7,007
1,104
2,708
23,929
1,032
11,716
1,205
171,720
262,767
6,750
810
7,560
432,626
271,989 |
2022
£
4,675
(18,679)
4,300
8,867
614
296
750
3,707
4,625
5,009
899
5,595
13,833
650
13,142
831
92,828
141,942
6,000
2,702
8,702
268,247
305,379 |
|
|
|
This page does not form part of the statutory financial statements
Page 22