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 se￿iCe5 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 TrU￿ee$ 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 I￿egular1ties. 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 e￿or. 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