REGISTERED CHARITY NUMBER: 1083651
Report of the Trustees and Financial Statements for the Year Ended 31 March 2023 f or Sikh Welfare and Research Trust
Sikh Welfare and Research Trust
Contents of the Financial Statements for the Year Ended 31 March 2023
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 6 |
| Detailed Statement of Financial Activities | 7 |
Sikh Welfare and Research Trust
Report of the Trustees for the Year Ended 31 March 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of' Accounting and Reporting by Charities' the Statement of Recommended Practice (SORP) preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
The trustees confirm that they have complied with the duty in section 17(5) of 2011 Charities Act. The trustees have had regard to Charity Commission guidance on public benefit.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1083651
Principal address
32 Manor Avenue Hounslow TW4 7JL
Trustees
Dr J S Rai Prabhjot Singh Bhinder Jasvinder Nagra
Independent Examiner
Kingsman Advisory Ltd 58 Bourne Avenue, Hayes, UB31QW
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
ON BEHALF OF THE BOARD :
............................................. Trustee -
Date: 28 Jan 2024
Page 1
Independent Examiner's Report to the Trustees of Sikh Welfare and Research Trust
I report on the accounts for the year ended 31 March 2023 set out on pages three to six.
Respective responsibilities of trustees and examiner
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Basis of the independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
Kingsman Advisory Limited Chartered Accountants
Date: 28 Jan 2024
Page 2
Sikh Welfare and Research Trust
Statement of Financial Activities for the Year Ended 31 March 2023
| Unrestricted Restricted funds funds Note £ £ 78,289 36,718 2 - - 115,007 8,500 INCOMING RESOURCES Incoming resources from generated funds Voluntary income Gift Aid Investment income Total incoming resources RESOURCES EXPENDED Charitable activities Human Rights Grants 52,400 Other resources expended 48,192 Total resources expended 109,092 - - NET INCOMING/(OUTGOING) RESOURCES 5,915 RECONCILIATION OF FUNDS Total funds brought forward 5,638 - TOTAL FUNDS CARRIED FORWARD 11,553 - - |
Unrestricted Restricted funds funds Note £ £ 78,289 36,718 2 - - 115,007 8,500 INCOMING RESOURCES Incoming resources from generated funds Voluntary income Gift Aid Investment income Total incoming resources RESOURCES EXPENDED Charitable activities Human Rights Grants 52,400 Other resources expended 48,192 Total resources expended 109,092 - - NET INCOMING/(OUTGOING) RESOURCES 5,915 RECONCILIATION OF FUNDS Total funds brought forward 5,638 - TOTAL FUNDS CARRIED FORWARD 11,553 - - |
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| - - - - |
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The notes form part of these financial statements
Page 3
Sikh Welfare and Research Trust
Balance Sheet
At 31 March 2023
| Balance Sheet At 31 March 2023 |
|||||
|---|---|---|---|---|---|
| 31.3.23 | 31.3.22 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Note | £ |
£ | £ | £ | |
| CURRENT ASSETS | |||||
| Debtors | 5 | - | - | - | - |
| Cash at bank | 11,553 | - | 11,553 | 5,638 | |
| CREDITORS | |||||
| Amounts falling due within one year | 6 | - | - | - | - |
| NET CURRENT ASSETS | 11,553 | - | 11,553 | 5,638 | |
| TOTAL ASSETS LESS CURRENT | |||||
| LIABILITIES | 11,553 | - | 11,553 | 5,638 | |
| ACCRUALS AND DEFERRED INCOME | 7 | - | - | - | - |
| NET ASSETS | 11,553 | - | 11,553 | 5,638 | |
| FUNDS | 8 | ||||
| Unrestricted funds | 11,553 | 5,638 | |||
| TOTAL FUNDS | 11,553 | 5,638 |
The financial statements were approved by the Board of Trustees on 28 Jan 2024 and were signed on its behalf by:
............................................. Trustee -
Page 4
Sikh Welfare and Research Trust
Notes to the Financial Statements for the Year Ended 31 March 2023
1. ACCOUNTING POLICIES
Accounting convention
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
31.3.22 31.3.21 £ £ Deposit account interest - -
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' Expenses
There were no trustees' expenses paid for the year ended 31 March 2023 or for the year ended 31 March 2022.
Page 5
Sikh Welfare and Research Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|---|
| 31.3.23 | 31.3.22 | ||||
| £ | £ | ||||
| Gift aid | - | - | |||
| Other | - | - | |||
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31.3.23 | 31.3.22 | ||||
| £ | £ | ||||
| Credit card | - | - | |||
| Other creditors | - | - | |||
| 6. | ACCRUALS AND DEFERRED INCOME | ||||
| 31.3.23 | 31.3.22 | ||||
| £ | £ | ||||
| - | - | ||||
| 7. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement in | |||||
| At 01.04.22 | funds | At 31.3.23 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 5,638 | 5,915 | 11,553 | ||
| TOTAL FUNDS | 5,638 | 5,915 | 11,553 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement in | |||
| resources | expended | funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 115,007 | (109,092) | 5,915 | ||
| TOTAL FUNDS | 115,007 | (109,092) | 5,915 |
Page 6
Sikh Welfare and Research Trust
Detailed Statement of Financial Activities for the Year Ended 31 March 2023
| 31.3.23 £ 78,289 - 115,007 60,900 INCOMING RESOURCES Income Voluntary Donations Grants Gift Aid Investment income Deposit account interest Total incoming resources RESOURCES EXPENDED Charitable activities Grants to institutions Support costs Management Wages 29,421 Professional and consultancy fees 2,193 Telephone 1,633 Printing, postage & stationery - Motor & Travel 473 Membership & subscriptions - Sundries 2,903 Computer and website expenses 11,113 47,736 Finance Bank charges 455 Total resources expended 109,092 Net income/(expenditure) 5,915 - 36,718 |
31.3.22 £ 51,090 - 71,769 41,700 22,913 - 1,093 340 425 - 1,943 5,676 32,390 - 32,390 10,679 10,000 |
31.3.22 £ 51,090 - 71,769 41,700 22,913 - 1,093 340 425 - 1,943 5,676 32,390 - 32,390 10,679 10,000 |
|---|---|---|
| (2,321) |
Page 7