REGISTERED CHARITY NUMBER: 1081931 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR RAMGARHIA BOARD (LEICESTER & LEICESTERSHIRE)
RAMGARHIA BOARD (LEICESTER & LEICESTERSHIRE) CONTENTS OF THE FINANCIAL STATEMENTS For The Yeor Ended 31 Morch 2025 Page Reference and Admlnistratlve Detalls Report of the Trustees Reporl of *he Independent Audltors stotemenl of Flnanclal Aclfvllles Balance Sheet Cash Flow Statement Noles to Ihe Cash Flow Stalement 13 Notes to Ihe Flnonclal Stalements 14 to 23 Detalled Statemenl of Flnanclal Acllvllles 24 to 25
RAMGARHIA BOARD {LEICESTER & LEICESTERSHIRE) REFERENCE AND ADMINISYRATIVE DEfAILS For The Year Ended 31 March 2025 TRUSTEES I S Panesar- President H S Jagdev- Vice President K S Sagoo- Secr&tary S S Ponesor- Treasurer M S Reyal M S Riyat S S Re8hal Dr H S Virdee J S Matharu S S Hanspal G S Bahra U S Golhar H S Kundra R S Panesar M S Dhiraj HSJvss M S Panesar B S Chonna BKLota J K Deogan P K Ghataura T K Flora M K Mudhar H Singh Riyait D S Virdee PRINCIPAL ADDRESS 2 Sri Guru Ramdas Way Hamilton Leicester Leice51ershire LE5 IGN REGISTERED CHARITY NUMBER 1081931 AUDITORS TC Group 31 High Vlew Close Hamilton Office Park Leicesler Leicestershire LE4 9LJ Page I
RAMGARHIA BOARD (LEICESTER & LEICESTERSHIRE) REPORT Of THE TRUSTEES For The Year Ended 31 Morch 2025 The trustees present Iheir report wilh the financial stolements of the charity for Ihe year ended 31 Morch 2025. The trustees have adopted Ihe provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accotdance wilh the Finoncial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 1021 lettective l January 20191. OBJECTIVES AND ACTIVITIES Objeclives and alms The charity's objects ore to advance the sikh religion in Ihe community of Leicester by the provision of the Gurdwara to be known as "Ramgarhio Sikh Gurtharo Leicesterf,. To relieve poverty and sickne55 and to advance education for the benefit of the public. To provide facilities for recrealional ond other activities with a view to improving the conditions of life for the said communily and the wider community. The charify h05 conlinved to provide vorious religious ond 50cioI activities through its work for the sikh and wider communily of Leicester. This included religious festivals. sporting and other octivities ond Ihe provision of o commvnily cenlre for the eldedy, There has been no change in these during the year. The chority is dependent on the conlinued seNice of unpaid volunteers in oll a5pecls of the charity's activilies. The contribution in t@rms of hours cannot be accurotely qvanlified in Ihis respecl. Pvbllc benelll The section of this report entilled "Objectives and octivilies" sels out the objects and aims of the Charily. The trustees have considered this. in conjunction with the guidance in the Charity Commission's general guidance on public benefit, and hove concluded Ihat.. - the aims of the charity continue to be charilable; the work done by the charity give5 identifioble benefits lo the charitable sector and both directly and indirectly to individuols in need,. - the benefils are for the public: not vnreasonably restricted in any way; there is no detriment or hann arising from Ihe aims or oclivitie5. ACHIEVEMENTS AND PERFORMANCE Chorilable aclivllles During the year Ihe charity continued to provide Gurdwara seiCe5 that were available to the public oll year round. In addition. Ihe charily can provide priests thal can provide religious and educational services for the public away from the Gurdwora. The Gurdwara also continued to celebrate all the main Sikh fe51ivols ond provided education of such festiva15 for the public as well as encouraging Social interaction wthin the community. Fundraislng actlvlFles In 2025 1he Ramgarhia Board (Leicester & Leicestershire) report5 an increase in the level of voluntary income received to meel it5 objectives. Donation5 and colleclions of £790.201 12024 - £724.7881 were received and the total incoming resource5 from generated funds amounted to £l.186,99912024- £1,136.9751. Totol voluntory income received linclvding Gift Aid) increosed by 6.2% compared to an increase of 65.7% in 2024. Income from charilable activities decreased by £2.734 to £207,92312024 increase of £72,317). Income from holl hire wos £194,60012024- £197,917). Income from the rental of Ihe Car park was £45,23412024 - £47,9531. Page 2
RAMGARHIA BOARD (LEICESTER & LEICESTERSHIRE) REPORT OF THE TRUSTEES For The Year Ended 31 March 2025 FINANCIAL REVIEW Flnanclal poslllon The trustees consider that the unrestricted and restricted funds of the chorily hove sufficient resources and ossets available thot are adequote to ftjlfil Iheir obligotions. They are pleased thal since the opening of the new gvrdwara in June 2023 there is significant increase in bolh the income from donations and Ihe hire of the community hall dvring the year to expected levels. Nel incoming resovrces for Ihe year were £132.016 compared wilh £771.9822 (including £451,07S net gains on investmentsl in 2024. Income from donations (incl Gift Aidl increased by £54,448. Income from Ihe hire of the holl during the year was £194,6CQ12024-£197,9171. It is the poficy of Ihe charity thal unrestricted funds. which have nol been designaled for a specific vse, should be maintained al a level equivalent to one year's expenditure. The Iruslees consider Ihot reseNes al this level will ensure Ihot in the evenl of a significant drop in fvnding they will be able lo continue the choritls existing oclivities while consideration is given to woys in which additional fvnds may be foised. Al Ihe end of the financial year, the free reserves avoilable were l£196.0271 compared wilh1£279.9381 al 31 March 2024. FUTURE PLANS The trustees are pleased to report the new Gurdwaro Sahib is fvnclioning extremely well, with the Pvnjabl school being a huge success. It is now oversubscribed. The trvstees ore considering building on extension lo provide additionol occommodolion for Ihe school. The trustees aim lo reduce the soft loan5 amount by SO% by 311312026. The tru51ees also aim to increase our reserve funds to £200k by 31.3.2026. STRUCTURE. GOVERNANCE AND MANAGEMENT Govemlng document The charity was established by o choritoble trust deed on 20 FebnJary 2000 as amended on 23 July 2000. Recrullment and appolnlmenl of new Irvstees Trustee5 are appointed once they have been nominated by the members and the congregation of Ihe charity. The charity. if necessary. will appoint Irustees by eleclion through a ballol if more than one member is nominated. New trustees are inducted ond trained by more experienced existing Irustees including the Presidenl. General Secretary and Tr&asurer. The charity is headed by Ihe Ramgarhia Board ILeice51er & Leiceslershirel and operales through a number of svb-projecls which include o Gurdworo. Community Centre. senior citizens club, social sisters club. punjabi school and sporting activilies clvb. Decisions on the day-to4ay running of the charity are taken by common consensus of the managemenl committee in accordance with the constilulion. The trustees have assessed the major risks to which the chorily is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Poge 3
RAMGARHIA BOARD {LEICESTER & LEICESTERSHIRE) REPORT OF THE TRUSTEES For The YeaT Ended 31 March 2025 FUNDS HELD AS CUSTODIAN FOR OTHERS Custodian trustees are responsible for the sofe keeping of the freehold land and buildings of Ihe charity. Cvstodlan TrUee$ Dr H S Virdee Dr D S Virdee J S MathoTU S S Hanspol U S Golhar H S Riyail G S Bohro STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees ore rasponsible for preparing the Report of the Trustee5 and the financial statements in accordance with applicable law and United Kingdom Accounting Standard5 Iunited Kingdom Generally Accepted Accounting Procticel. Charity low reqvires the trustees to prepare financiol statemenls for each financial year. Under that law, the trustees have elected lo prepare the financial slotements in occordonce with United Kingdom Generally Accepted Accounling Practice (United Kingdom Accounting Standards and applicoble lawl. Under charity law the trustees musl not approve the financiol statements unless they are solisfied Ihal they give a true ond fair view of the stale of affairs of the charity and of the incoming resources ond application of resources, including the income and expendilure. of the chorily for that period. In preparing those financial slatements. the trustees are required to select suitable accounting policies and Ihen apply them consistentty: observe the methods ond principles in Ihe Charities SORP: make judgements and estimates that ore reasonable ond pruden*", state whelher applicoble accounting stondards have been followed, subject to any material departures disclosed and explained in Ihe financial statements; prepare the financial statements on the going concem basis unless il 15 inappropriate to pre5vme Ihat the charity will continue in business. The trustees are responsible for keeping proper accounting records which disc105e wilh reasonable accvracy al any time the financial position of the charily and to enable them to ensure that the financial slolementS comply wilh the Chorities Act 2011 and The Chority (Accounts ond Reportsl Regulations 2008. They are olso responsible for safeguarding the assets of the charity ond hence for taking reasonable steps for the prevention and delection of fraud ond other Iegular1ties. Approved by order of the board of fru5tee5 on.............. ........ IOZ6 and signed on its behalf by.. I S Panesar- President- TnJ5tee Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF RAMGARHIA BOARD (LEICESTER & LEICESTERSHIRE) Oplnlon We hove audited the financial statements of Ramgathia Board (Leicesler & Leicestershire) Ithe '¢horiWI for the year ended 31 March 2025 which comprise the Slatemenl of Financial Activiti8s, the Balance Sheet. the Cash Flow Stalemenl and notes fo the financial stat8menls, including a summary of significont accovnfing policie5. The financial reporting framework Ihal has been opplied in their preparalion is applicable l¢JW ond United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounting Praclicel. In our opinion the financiol stolements.. give a true and fair view of the stale of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources. for Ihe year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Praclice.. and have be&n prepared in accordance wilh the requirements of the Charities Act 2011. Basls for oplnlon We condvcfed our audil in accordance wilh Intemational Slandards on Auditing IUKI 11SAs IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial slatemenls section of our report. We are independenl of the charily in accordance with the ethical requirements thot are relevant to our audit of the financial slatements in the UK. including the FRC'S Elhical Standard, and we have fulfilled our other elhical responsibilities in accordonce wilh these reqviremenls. We believe that the audit evidence we hove oblained is sufficient and appropriote to provide a basis for our opinion. Concluslons relallng to golng concern In audiling Ihe financial stalemenls. we have concluded that the trustees, use of the going ¢oncem basis of accounting in the preparation of the financial slatemenls is appropriate. Based on the work we have perfomied, we have nol identified any material uncertainties relaling lo events or condilions that. individually or collectively, moy cast significant doubt on the chority's obility to continue as a going concem for a period of al least Iwelve months from when the financial statements ore authorised for issue. Our respon5ibililies and Ihe responsibilities of Ihe Iruslees wilh respect to going concern are described in the relevant sections of this report. other InloTmallon The trustees are responsible for the other information. The other information comprises the infomotion included in the Annual Report, olher than the financial slotements and our Report of Ihe Independent Avdilors thereon. Our opinion on the financial statemenls does nol cover the other information and, except to the extent olhemise explicilly stated in our report, we do nol express ony fom of assurance conclusion thereon. In conneclion with our audit of the financial statements. our responsibility is to read th8 Other information and. in doing so, consider whether the other informalion is materially inconsistent with Ihe financial statements or our knowledge oblained in the ovdit or othemise appears lo be malerially mis5toted. If we identify such moleriol inconsistencies or apparent molerial misslatements. we ore required to detemiine whether this gives rise lo a malerial misstalemenl in the financiol slalements themselves. If. bosed on the work we have performed, we conclude Ihal Ihere is a moterial misstatement of Ihis other information, we ore required to reporl thot facl. We have nothing lo report in this regard. Poge 5
REPORT OF THE INDEPENDE AUDITORS TO THE TRUSTEES OF RAMGARHIA BOARD (LEICESTER & IEICESTERSHIRE) Matters on whlch we are requlred to report by exceptlon We have nolhing to report in respect of the following matters where the Charities IAccounts ond Report5) Regulations 2008 requires us to report to you if. in our opinion= the infomiotion given in the Report of the Trustees is inconsistent in any malerial respect wilh the financial slolemenls,. or sufficient accounling records have not been kept; or Ihe financial slatements are not in agreement with the accounting records ond retums; or we have nol received all the information and explanations we require for our audit. Re$ponslbllllle$ ol Irustees As explained more fully in Ihe Statement of Trustees, Responsibilities. the tTUStees are responsible for the preparation of the financial statements which give o true and fair view. and for such internal control as the trustees detennine is necessory to enable the preparation of financial stotements that are free from malerial misstatement. whether due to fraud or eor. In preparing the financial Statements, Ihe Irust&es ore responsible for assessing the charity's ability to continue as a going concem, disclosing, as applicable. matters related to going concem and using the going concem basis of accounting unless the Irustees either intend to liquidote the charily or to cease operations, or hove no reolislic alternative but to do so. Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF RAMGARHIA BOARD (LEICESTER & LEICESTERSHIRE) Ovr responslbllltle$ the avdlt of Ihe flnanclal statements We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect Ihereunder. Our objectives are lo obtain reasonoble assurance about whelher Ihe financial statements as a whole ore free from material misstalemenl. whether dve to fraud or error. and to Issue o Report of the Independent Auditors Ihat includes our opinion. Reasonable assurance 15 0 high level of assurance, but is not a guarantee thal an audil conducted in occordance with ISAS IUKI will atways detect a material mis5totemenl when il exists, Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence Ihe economic decisions of users taken on the basis of these financial statements. Irregvlarilies, including fraud, are instances of non-compliance wilh laws ond regulations. We design procedures in line wilh our responsibilities, outlined above. lo detect moleriol misstalemenls in respect of irregulorities. including fraud. The extenl lo which our procedures are capable of delecling irregvlarilies, including fraud is detailed below". We obtained an understanding of Ihe legal ond regulatory frameworks that are applicable to the charity ond determined that the most significant fromeworks which are directly relevont to specific asserlions in the financial statements ore those that relate lo the reporting fromework. We understood how the charity is comptying with those frameworks by making enquiries of managernenl and Ihose responsible for legal and Complionce procedures. We corroboraled our enquiries through review of board minutes and discussions wilh those chorged with governance. We assessed the susceptibiltly of Ihe charity's financiol stotements to material misstatement. including how fraud mighl occur, by discussion with management from various parts of the business lo vnder5tand where they considered there was a susceptibility lo fraud. We considered the procedures and controls thot the charity has established lo prevenl ond detect fraud. and how these ore monitored by management. and also any enhanced risk factors such as performance targets. Based on our underslonding. we designed our audit procedures to idenlify any non-compliance wilh laws and regulations identifted in the paragraphs above. We also performed audil work over the risk of management override of controls. including fesling of joumal enlries and other adjustmenls for appropriateness, evaluating the business rationale of significant Iransactions ovlside Ihe normal course of business and reviewing accounting estimotes for bias. Because of the inherent limitalions of an audit, there is a risk that we will nol detect oll itTegularilies, including Ihose leading lo a material misstatement in the financial statements or non<omplionce with regulation. This risk increoses the more that compliance with a law or regulation is removed from the evenls ond transactions reflected in the tinonciol statements. as we will be less likely to become owore of inslances of non-compfiance. The risk is also grealer regarding irregularities occurring due lo fraud father Ihan eOr. as fraud involves inlentional concealment, forgery, collusion. omission or misrepresentalion. A further description of our responsibililies for Ihe audit of the financial statements is located on the Finoncial Reporting Council's website ol www.frc.org.uk/auditorsresponsibilities. This description forms parl of our Report of the Independenl Avdilors. Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF RAMGARHIA BOARD (LEICESTER & LEICESTERSHIRE) Use ol ovr report This report is made solely to the charity's Irustees. as a body. in accordance wilh Part 4 of the Charities IAccounts and Reports) Regvlalion$ 2008. Our audit work has been undertaken so that we might slole lo Ihe chority's truslees those matters we are required to state to them in on auditors, report and for no olher purpose. To the fullest extent permilted by law. we do not accept or assume responsibility to onyone other than the charity and the charitls trustees os a body. for our avdit work, for this report, or for the opinions we have formed. -rc e•v TC Group 31 High View Close Hamilton Office Park Leicester Leiceslershire LE4 9LJ Page 8
RAMGARHIA BOARD (LEICESTER & LEICESTERSHIRE) STATEMENT OF FINANCIAL ACTivmES For The Year Ended 31 March 2025 2025 Total funds 2024 Total funds Unrestricled fund Restricted fund Noles INCOME AND ENDOWMENTS FROM Donotions and legacies 932,772 932,772 878.324 Chaillable ocllvllles Hall hire Sole of lickels ot events 194,600 13,323 194,600 13.323 197.917 12.740 Other Irading aclivilies Inveslment income 45.234 1.070 45.234 1.070 47,953 41 Tolal 1,186,999 1,186,999 1,136,975 EXPENDITURE ON Raising funds 573,004 573,004 381.357 Chorllable acllvllles Hall hire Sole of tickets al events Governance Mortgage interest 178,967 15,005 12.586 275.421 178,967 15,(X)5 12,586 275.421 146.369 9.550 278.792 Total 1,054,983 1,054,983 816,068 Net goins on investments 451.075 NET INCOME 132,016 132,016 771,982 RECONCIUATION OF FUNDS Tolal funds brought foNord 5,716,460 5,716.460 4,944,478 TOTAL FUNDS CARRIED FORWARD 5.848.476 5.848.476 5,716,460 The note5 fonn part of these financial statements Page 9
RAMGARHIA BOARD (LEICESTER & LEICESTERSHIRE) BALANCE SHEFr 31 March 2025 2025 2024 Note5 FIXED ASSETS Tangible ass8ts Investment property 12 13 7,610,975 1,690.000 7,649.125 1.690.000 9,300,975 9.339,125 CURRENT ASSETS Debtors Cosh at bank and in hand 14 37,211 141,818 18,670 129.981 179,029 148,651 CREDITORS Amounts falling due within one year 15 1375,0561 1428,5891 NET CURRENT ASSETS 1196,0271 1279,9381 TOTAL ASSEfs LESS CURRENT UABILITIES 9,104,948 9,059,187 CREDITORS Amounts falling due after more than one year 16 {3,256.472} 13,342,727} NET ASSEWS 5.848,476 5,716,460 The noles form part of these financial statements Page 10 contlnued...
RAMGARHIA BOARD (LEICESTER & LEICESTERSHIRE) BALANCE SHEEf - continved 31 March 2025 FUNDS Unreslricted funds 20 5.848.476 5.716.460 TOTAL FUNDS 5.848.476 5,716.460 ancio Statemen15 were opproved by the Board of Trv5tees and outhorised for i55ue on ..Ko.L4... and were signed on its behalf by: I S Ponesar- President- Trustee K S Sagoo - Secrelary- Trustee S S Panesor- Treasvrer- Trustee The nole5 forn part of these financial 5tatemenls Pagell
RAMGARHIA BOARD (LEICESTER & LEICESTERSHIRE) CASH FLOW STATEMENT For The Year Ended 31 March 2025 2025 2024 Notes Ca$h ftows Irom operaffng o¢tfvllles Cash generated from operations Interest paid 486,508 1276.1161 712.600 {279.8381 Net cash provided by operating aclivities 210.392 432.762 Cash flows from Investing acllvllles Purchase of langible fixed asset5 In*ere5t received I119.064} 1,070 142&5'681 41 Net cash used in investing activilies 1117,9941 1428.5271 Cash flows from flnanclng actlvHle$ New loans in year Loan repayments in year 133,914 149,2191 180,5611 Net cash lused inllprovided by financing activities 180.5611 84,695 Change In cash and cash eqvlvalents In the reportlng perlod Cash ond cash equivalents ol Ihe beginnlng of the reporllng perlod 11,837 88,930 129,981 41,051 Cash and cash eqvlvolents at the end ol Ihe reportlng perlod 141.818 129,981 The notes form part of these financial 5talemenls Page 12
RAMGARHIA BOARD {LEICESTER & LEICESTERSHIRE) NOTES TO THE CASH FLOW STATEMENT For The Year Ended 31 Maich 2025 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 N•t Income the reportlng perlod {as pèi Ihe Slalement ol Flnanclal Acllvltles} Adjuments for. Depreciotlon charges Losses on investments Interest received Interest paid Increase in deblors Decreose in creditOTS 132,016 771,982 157,214 121,337 1451,0751 1411 279.838 14,4301 15,0111 11.0701 276.116 118,5411 159,2271 Nel cash provlded by operallons 486.508 712.600 ANALYSIS OF CHANGES IN NET DEBT At 1.4.24 Cash flow At 31.3.25 Net cash Cash at bank and in hand 129,981 11,837 141,818 129.981 11,837 141,818 Debt Debts folling due within l year Debls falling due after l year 181,5211 13.342,7271 15.6941 86,255 187,2151 13,256,472) 13,424,2481 80,561 13.343.687) Totol 13,294.2671 92,398 13,201,869) The notes fonn part of these financial statements Page 13
RAMGARHIA BOARD (LEICESTER & LEICESTERSHIRE) NOTES TO THE FINANCIAL STATEMENTS For The Yeor Ended 31 March 2025 ACCOUNTING POLICIES Basls of preparing the flnanclal statements The financial slatements of the chorily. which is a public benefit entity under FRS 102, have been prepared in accordance with Ihe Charities SORP IFRS 1021 'Accounting and Reporting by ChaTilies: statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard opplicable in the UK ond Republic of Ireland IFRS 102) leffective l January 20191,. Financial Reporting Slandord 102 'The Financial Reporting Stondard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial slalement5 have been prepared under the historical cost convention. as modified by the revaluation of certain a55ets. The charivs functional and presentalional cUencY is GBP rounded to the nearest pound. Income and endowmenls Voluntary income including donations. gifts, legacie5 and grants that provide core funding or are of a general nature is recognised in Ihe Stalement of Financial Activities once the charity has entillemenl to the funds, it is proboble that the income will be received and the omount can be measured reliobty. Donallons and legacles Donations and legacies are recognised on a receivoble basis when receipt is probable and the amount can be reliobly measured. Glft ald Incoming resources from tox recloim5 are included in the Statement of Financiol Activili@s ot Ihe same time as the gift to which they relate. Expendtture Liobilities ore recognised as expendilvre as soon as there is a legal or conslruclive obfigotion committing the charity lo thol expendilure. if is probable thol a transfer of economic benefits will b8 required in settlement and the amount of the obfigalion can be measured reliab. Expendilure is accounted for on an accrua15 basis and has been classified under headings thot aggregote all cost related to the category. Where costs cannot be directly attribuled to particular headings they have been allocaled to activities on a basis consistent with the use of resources. Ralslng tund$ These are costs incurred in attracling voluntory income. the monagement of investmenls and those incurred in trading activities that raise funds. Charltoble actlvltles Charitable expenditure comprises Ihose cosls incurred by the charity in the delivery of its oclivities and services for its beneficiarie5. 11 includes both costs that can be allocated directly lo such aclivilies and those costs of an indirect nature necessary lo support them. Governance costs These include the costs attributable lo the chatFty's compliance wilh constitutional and slalulory requirement5, including audit. strolegic management and trustees's meetings and reimbursed expenses. Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas. or per capilo. stoff cos15 by the time Spent and other c05t5 by their usage. Poge 14 continued...
RAMGARHIA BOARD (LEICESTER & LEICESTERSHIRE) NOTES TO THE FINANCIAL STATEMENTS - conllnued For The Year Ended 31 March 2025 ACCOUNTING POLICIES - ¢onllnued Tonglble fixed as$et$ Depreciation is provided ol the following annual rates in order lo write off each asset over its estimated usefvjl life. Freehold property Fixtures, fitting5 and equipment Over 50 years or the period of Ihe lease 1 5% on reducing bolance Inveslment property Investmenl property is shown al mosl recent valuation. Any aggregate surplus or deficit arising from change5 in fair value 15 recognised in the Statement of Financiol Activitie5. Taxalion The charity is exempt from lox on its charitable activitie5. Fund accountlng Unrestricted funds can be used in accordance with the charitable objectives al Ihe discretion of the truslees. Restricted fund5 con only be used for particular restricted pvry)oses within the objecls of the charity. Restrictions arise when specified by the donor or when fund5 are raised for particulor restricted purposes. Further explonation of the nalure and purpose of eoch fund is included in the notes lo the financial statements. Penslon cosls and other po-re•lreMenI beneflts The charity operate5 a defined conlribution pension scheme. Contributions payable lo the chority's pension scheme are charged to Ihe Slotemenl of Finoncial Activities in the period lo which they relate. Golng eon¢ern As ot Ihe point of oulhorising the occounts. and for the foreseeable fulure. the tTU5tee5 consider the going concern a55umption to Still be appropriate. The truslees acknowledge that given Ihe current rapidly changing busine55 and social environment, there are likely to be significant unknown foctors which may presenl themselves. Such facfots are considered by the trustees to represenl a general inherent level of risk in relation to the going concern a55vmption albeit not quantifiable at this lime. Borrowlngs Inleresl-beofing borrowings are initially recorded ot fair value. net of transaction co$15. Interesl-bearing borrowings are subsequently carried at amortised cost. with the difference belween the proceeds. net of tronsaclion costs, and the amount due on redemption being recognised a5 a chorge lo the over the period of the relevant borrowing. Interest expense is recognised on the ba515 of the effective interest method and is included in interest poyable and similar chorges. Borrowings are classified as CUent liabifities unless the ha5 an uncondilionol right to defer settlement of the liability for al leasl thelve months ofter the reporting date. Page15 conlinued...
RAMGARHIA BOARD {LEICESTER & LEICESTERSHIRE) NOTES TO THE FINANCIAI STATEMENTS - contlnued For The Year Ended 31 Morch 2025 DONATIONS AND LEGACIES 2025 2024 Donations Gifl aid 790,201 142,571 724,788 153.536 932,772 878,324 OTHER TRADING ACTIVITIES 2025 2024 Rents received 45.234 47.953 INVESTMENT INCOME 2025 2024 Deposlt accovnt interest 1.070 41 INCOME FROM CHARITABLE ACTIVITIES 2025 Aclivity Hall hire Sale of tickets at evenls 2024 Hall hire Sale of lickets al events 194.600 13.323 197.917 12,740 207.923 210,657 RAISING FUNDS Ralslng donallons and legacles 2025 2024 Slaff costs Rent Rates and water Insvronce Light ond heat Telephone Postage ond stationery Repairs and maintenance Subscriptions Donation5 Siropas Langar, porshad and svndri&s Cleaning and waste disposal Advertising and sponsorship Bank charges 56,040 24,913 13,000 13001 7.036 45.857 1,576 2,376 5,640 125 1,206 49,136 89,856 16,693 700 6,260 7,561 126,717 1.623 2.731 18.834 275 5,343 47.159 101.525 36,190 3,806 6,455 Carried forword 414,259 264,074 Page 16 continued...
RAMGARHIA BOARD (LEICESTER & LEICESTERSHIRE) NOTES TO THE FINANCIAL STATEMENTS . conllnved For The Year Ended 31 March 2025 RAISING FUNDS - conffnued Raising don(thons and legacles - conllnved 2025 2024 Brought forward Equipment hire Security costs other interest Depreciation 414.259 6,182 10,547 264.074 5.435 6,671 333 104.844 142.016 573.004 381,357 CHARITABLE ACTIVITIES COSTS Support costs (see note 81 Direct Cost5 Tolals Holl hire Sale of tickets at events Govemance Mortgage interest 178.967 15,005 178.967 15,005 12,586 275.421 12,586 275.421 469,393 12,586 481,979 SUPPORT COSTS Govemance cosls Govemonce 12,586 Support costs, included in the above, are as follows: 2025 2024 Totol activilie5 Govefftance Auditor5, remvneiation Accounlancy and legol fees i o,ocK) 2.586 9,000 550 12,586 9,550 Page 17 continued...
RAMGARHIA BOARD (LEICESTER & LEICESTERSHIRE) NOTES TO THE FINANCIAL STATEMENTS - conffnued For The Year Ended 31 March 2025 TRUSTEES. REMUNERATION AND BENEFrrs Sukhdev Panesar (Treasurer) w05 poid £14,685 12024 £15,220) for stewarding and hall svpervision services. Manjit Singh Panesar (Trustee} was paid £25012024- £Nil) for stewarding and hall supervision 5ervice5. Trustees. expense5 Inderiit Panesar (Presidentl was reimbvrsed £3,29212024 - £23,327.33) for invoices paid on behalf of the charity in conn8Ction with the Keyham Lone new temple improvement5. Harjinder Juss (Trusteel was reimbursed £3,346.20 12024 - £28,335.73) for invoices paid on behalf of the chority in connection with the Keyhom Lone new lemple improvernenfs. Ravinder Panesor (Trusteel wa5 reimbursed £1.354.80 for an invoice paid on behafp of lh& chairity in conneclion with the purchase of o new freezer. io. STAFF COSTS 2025 2024 Wages ond salaries other pension costs 55,706 334 24.807 106 56.040 24,913 The average monthly number of employees during the year wa5 as follows.. Gianis 2025 2024 No employee5 received emolurnent5 in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTivmES Unrestricted fund Restricted fund Totol funds INCOME AND ENDOWMENTS FROM Donations and legacies 710.921 167.403 878.324 Ch(fflloble actlvllles Hall hire Sale of tickets at events 197,917 12,740 197,917 12,740 Other trading octivities Investment income 47,953 41 47,953 41 Total 969.572 167,403 1,136,975 EXPENDITURE ON Raisin9 fund5 381,357 381.357 Page 18 conlinued...
RAMGARHIA BOARD (LEICESTER & LEICESTERSHIRE) NOTES TO THE FINANCIAL STATEMENTS - contlnved For The Year Ended 31 March 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - Contlnved Unreslricted fund Reslricled fund Tolal fund5 Charilable actlvlffes Hall hire Govemance Mortgage interest 146.369 9,550 278,792 146,369 9.550 278,792 Total 816.068 816,068 Nel gains on investmenls 451,075 451.075 NET INCOME Transfers between furbds 604,579 167.403 167,403 1167,4031 771,982 Nel movement In funds 771.982 771,982 RECONCILIATION OF FUNDS Total fvjnds brought foward 4.944,478 4.944.478 TOTAL FUNDS CARRIED FORWARD 5,716.460 5,716.460 12. TANGIBLE FIXED ASSETS Fixlures, fittings ond equipmenl Freehold property Totals COST At l April 2024 Additions 7.660.505 111.206 551.751 7,858 8,212,256 119.064 Al 31 March 2025 7.771.711 559,609 8.331.320 DEPRECIATION At l April 2024 Chorge for year 104,844 142,016 458.287 15,198 563.131 157,214 At 31 Morch 2025 246,860 473,485 720,345 NET BOOK VALUE At 31 March 2025 7.524.851 86,124 7,610.975 At 31 March 2024 7.555.661 93,464 7.649.125 Included in cost or volualion of land and bvildings is freehold land of £670,90212024 - £670.9021 which is not depreciated. Page 19 continued...
RAMGARHIA BOARD {LEICESTEft & LEICESTERSHIRE} NOTES TO THE FINANCIAL STATEMENTS - eonllnued For The Year Ended 31 March 2025 13. INVESTMENT PROPERTY FAIR VALUE At l April 2024 and 31 March 2025 1,690.000 NET BOOK VALUE Al 31 Morch 2025 1.690.000 Al 31 March 2024 1,690.000 Fair value at 31 March 2025 is represented by: Valuation in 2022 Cost 451.075 1.238.925 1.690,OC If investment property had nol been revalued it would hove been included at the following historical cost: 2025 2024 Cost 1,238.925 1.238,925 Investment property was valued on on open market basis on 23 Februory 2022 by Bruton Knowles. Investment properties were reviewed by the Iwstees af the year end laking into account their knowledge of local morkel conditions and the condition of Ihe properties owned by the trvsl. In their opinion the valve shown in the financial statements represents a malerially fair value. DEBTORS: AMOUNTS FALIING DUE WItHIN ONE YEAR 14. 2025 2024 Trode debtors Ofher debtors VAT Prepayment5 and accrved incom8 1,000 25,838 342 10,031 15.948 2.722 37.211 18.670 Page 20 continued...
RAMGARHIA BOARD (LEICESTER & LEICESTERSHIRE) NOIES TO THE FINANCIAL STATEMENTS - conllnued ForThe Year Ended 31 March 2025 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Bank loans and overdrafts (see note 171 Trade creditors Taxalion and social security other creditors 87,215 26,251 158 261.432 81.521 33,644 2,052 311,372 375,056 428,589 16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2025 2024 Bonk loans (see note 171 3.256,472 3,342,727 17. LOANS An analysis of the malurily of loans is given below: 2025 2024 Amounts falling due within one yeor on demand: Bank loans 87,215 81,521 Amounts folling due between 0 and five years: Bank loons - 2-5 years 294,712 286,703 Amounts falling due in more thon five years: Repayable by instalments: Bonk loans more 5 yr by inslal 2.961,760 3,056,024 There are two loan accounts active during the year held by the charity: Loan I The interest rate on the loan is poid at 4.5% IBBRI. Monthly repayments at present ore £24,854. Remoirbing term is 19 years and 4 monlhs. Loan 2 The interest rote on the loan is paid at 4.5% IBBRI. Monthly repayments at present are £2,765. Remaining term is 20 yeors and 7 months Bank loans are secured on the asset to which Ihey relate. Page 21 continued...
RAMGARHIA BOARD (LEICESTER & LEICESTERSHIRE} NOTES TO THE FINANCIAL STATEMENTS - conllnved For The Year Ended 31 March 2025 18. SECURED DEBTS The following secured debls are included within cr&ditors- 2025 2024 Bank loans 3.343,687 3,424,248 19. ANALYSIS OF NET ASSEfs BETWEEN FUNDS 2025 Total funds Unrestricted fund 2024 Total tvnds Restricted fund Fixed assels Investments Current assets Current liabilities Long tenn liabilities 7.610,975 1.690.000 179,029 1375,0561 13.256.4721 7,610,975 1.690.000 179.029 1375.0561 13.256.472) 7,649,125 1,690,0(K) 148.651 1428.5891 13,342,727) 5,848,476 5,848,476 5,716.460 20. MOVEMENT IN FUNDS Net movement in funds Al 31.3.25 Al 1.4.24 Unre5tr1cled fvnds Generol fund 5,716,460 132.016 5,848.476 TOTAL FUNDS 5,716,460 132,016 5,848,476 Nel movement in funds, included in the above are 05 follows: Incoming resources Resources expended Movement in funds Unrestrlcled fvnds General fund 1,186,999 11,054,9831 132,016 TOTAL FUNDS 1,186.999 11.054.9831 132.016 Page 22 conlinued...
RAMGARHIA BOARD (LEICESTER & LEICESTERSHIRE) NOTES TO THE FINANCIAL STATEMENTS . conllnued For The Year Ended 31 March 2025 20. MOVEMENT IN FUNDS - conllnved Comparallves for movemenl In funds Net movement in funds Tran5fer5 between funds Al 31.3.24 At 1.4.23 Unrestrlcled lunds General fund 4.944.478 604.579 167.403 5,716,460 Reslrlcled funds Donations and grants 167,403 1167,4031 TOTAL FUNDS 4,944,478 771.982 5.716.460 Comparalive net movement in funds. included in the above are as follows: Incoming resources Resources 8xp8nded Gains and losses Movement in funds Unreslrfcted funds General fund 969.572 1816,0681 451.075 604,579 Resmcted lund5 Donalions and granls 167,403 167,403 TOTAL FUNDS 1,136,975 1816,068) 451,075 771,982 21. RELATED PARTY DISCLOSURES During the year the charily received additional loans from members and trustees amounting lo £5,000 12024: £55,000) ond repaid loans amounling lo £75,01)012024 - £30,000). At the year end. olher creditors includes loan5 repayoble lo members lotolling £145,OIX)12024: £215,1)001, The loans do not attract ony inleresl. Page 23
RAMGARHIA BOARD (LEICESTER & LEICES7ERSHIRE) DETAILED STATEMENT OF FINANCIAL ACTIVITIES For The Yeor Ended 31 March 2025 2025 2024 INCOME AND ENDOWMENTS Donaffons and legacles Donations Gift aid 790.201 142,571 724,788 153.536 932,772 878.324 Olher trodlng o¢livlNes Rents received 45,234 47,953 Investrnent income Deposit account interest 1,070 41 Charflable acllvllles Sale of tickets at events Hall hire 13.323 194,600 12.740 197,917 207,923 210,657 Tolal Incomlng resources 1,186.999 1.136,975 EXPENDITURE Ralslng donations and legacles Wage5 Pensions Rent Rates and water Insurance Light and heat Telephone Postage and stationery Repairs and mointenance Subscriplions Donations Siropas Langar, porshad and sundries Cleoning and waste disposal Advertising and sponsorship Bonk chorges Equipment hire Security Costs other interesl Corried foward 55,706 334 24,807 106 13,0 13001 7,036 45,857 1.576 2,376 5,640 125 1.206 49,136 89,856 16,693 700 6,260 5,435 6,671 7,561 126,717 1,623 2,731 18,834 275 5,343 47,159 101,525 36,190 3,806 6,455 6,182 10,547 430.988 276,513 This page does not form part of the slatutory financial stotements Page 24
RAMGARHIA BOARD {LEICESTER & LEICESTERSHIRE) DETAILED STATEMENT OF FINANCIAL ACTIVITIES ForThe Year End•d 31 March 2025 2025 2024 Raising donallons and legacles Brought forward Depreciation of freehold propety 430.988 142.016 276.513 104,844 S73,004 381.357 Charllable actlvllies Rates and water Insurance Light and heal Telephone Postage and stationery Advertising Sundries Holl supervision Security costs Events Repoirs and maintenonce Cleaning and waste disposal Bonk charges Disallowed VAT Depreciation of fixtures and fittings Bank loon inleresl Mortgage interest 11,184 8,063 4.159 24.827 1.021 131 400 46.550 1.210 524 1,669 14.935 13.387 15,005 38,673 29,680 1,538 3.724 15.198 695 275,421 15.220 6,422 10,347 12.323 37,740 1.351 6,139 16.493 1,046 278,792 469.393 425.161 Svpport costs Governance costs Auditors. remvnerolion Accountancy and legal fee5 i 0.000 2,586 9,OCKJ 550 12.586 9.550 Total resources expended 1,054.983 816.068 Net Income before gain5 and losses 132.016 320,907 Reallsed recognlsed galns and losses Realised gain51llosse51 on investment property 451,075 Net Income 132,016 771,982 This poge does not form part of the stolutory financial 5totements Page 25