Charity number 1084278
BABA WADBHAG SINGH TRUST
Trustees' Report and Accounts
31 May 2021
BABA WADBHAG SINGH TRUST
Report and accounts Contents
| Page | |
|---|---|
| Charity details | 1 |
| Trustees report | 2 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes forming part of the Financial Statement | 7 |
BABA WADBHAG SINGH TRUST Charity Information
Trustees
Mrs Inderjit Kaur Dhiman Mr Ravinder Singh Virdi Mr Pal Singh
Chairman Trustee Trustee Trustee
Committee
Mr Makhan Singh Dhiman Mr Manoj Kumar Saluja Mr Sarbdeep Singh Rai Mrs Reva Saluja Mr Pal Singh Mrs Inderjit Kaur Dhiman Mrs Jagdish Kaur Sahota Mr Ravinder Singh Virdi Mr Jatinder Singh
President Treasurer General Secretary Member Member Member Member Member Member
Independent Examiner
Sinclair Mckinsley Limited Sinckot House 211 Station Road Harrow HA1 2TP
Bankers
Barclays Bank Plc P.O. Box 738 London W6 9HY
Registered office
6-12 Greenford Road Greenford, Middlesex UB6 9AT
Charity Number 1084278
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BABA WADBHAG SINGH TRUST
Trustees Report
The trustees present their report and the financial statements of the charity for the year ended 31 May 2021. The Trustees adopted the provisions of the Statement of Recommended Practice (SORP 2005) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.
Structure, Governance and Management of the Charity
The Trustees of the charity are listed on page 1 and served throughout the year. The Board has the power to appoint additional trustees, as it considers fit to do so. Every future trustee shall be appointed by resolution of the trustees passed at a special meeting and/or in accordance with the guidelines and procedure laid out by thr Charity Commission.The Committee is appointed as per the constitution of the trust and served through out the year.
Objects of the charity and principal activities
The charity’s objects and regulations are regulated by the Constitution. It is established to provide a centre where the community can gather for worship and celebrate various festivals according to the Culture and provide facilities for weddings and provide a place of worship where community members can visit on regular basis. There have been no changes in the charity’s objects or policies during the year.
Development, activities and achievements
In line with the Charity's objectives, Baba Wadbhag Singh Trust continued to provide a centre for the community to gather for worship. The trust building was completed and opened for general public from August 2011 and all the daily and weekly events have been functioning since then from new premises. Due to Government lockdown, the Temple was closed from March 2020 to May 2020. Temple was opened slowly with goverment guidelines during the year.
Reserves Policy
Cash reserves at the end of the year equated to about 3079% of the normal operating expenditure. The attached financial statements show the current state of affairs of the finances, which the committee consider to be sound, and continue the policy of maintaining such high levels for future projects and furtherance of the charities activities.
Risk Analysis
Trustees are of the opinion that there are no major risks to which the charity is exposed to.
Loan for Building Renovation
Trust is uptodate towards repayment of loan taken from Nationwide Building Society towards building the premises.
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BABA WADBHAG SINGH TRUST
Trustees Report
Trustees’ responsibilities
Charity law requires the trustees to prepare the financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its financial activities for that period. In preparing those financial statements the trustees are required to:
a) select suitable accounting policies and then apply them consistently; b) make judgements and estimates that are reasonable and prudent; c) state whether the policies adopted are in accordance with the Charities Act 2006 and with applicable accounting standards and statements of recommended practice, subject to any material departures disclosed and explained in the financial statements;
d) prepare the financial statements on a going concern basis unless it is inappropriate to assume that the charity will continue to operate.
Trustees’ responsibilities
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities. The trustees are running and excuting their duties towards the trust in compliance as per the Charities Act 2006.
This report was approved by the trustees on 23 March 2022
Signed on behalf of the Trustees:
Mr M S Dhiman
( Chairman )
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BABA WADBHAG SINGH TRUST
Independent Examiner’s Report to the trustees of BABA WADBHAG SINGH TRUST
I report on the accounts of the Trust for the year ended 31st May 2021 which are set out on pages 5 to 9.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011(the Charities Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the Charities Act;
-
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and
-
to state whether particular matters have come to my attention.
Basis of Independent Examiner's Statetement
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 statement below.
Independent Examiner’s Statement
In connection with our examination, no matter has come to our attention:
- which gives reasonable cause to believe that in, any material respect, the requirements
(a) to keep accounting records in accordance with section 130 of the Charities Act; and
(b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Charities Act have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Sinclair Mckinsley Limited Chartered Certified Accountants
Sinckot House 211 Station Road Harrow Ha1 2TP
23 March 2022
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BABA WADBHAG SINGH TRUST Statement of Financial Activities for the year ended 31 May 2021
| Unrestricted funds Designated funds All Funds Notes 2021 2021 2021 £ £ £ Income Resources I) General Income 2 49,978 0 49,978 ii) Bank Interest 300 300 iii) Giftaid refunds 9,659 9,659 Total Incoming Resources 59,937 0 59,937 Resources expended ii) other direct charitable expenditure 3 55 55 iii) Management & admin of Charity 4 16,229 16,229 Total resources expended 16,284 0 16,284 Net Incoming Resources 43,653 0 43,653 Net Movement in Funds 1,361,091 0 1,361,091 1,404,744 0 1,404,744 1Funds balance carried forward as at 31 May 2020 Funds balance brought forward as at 01 June 2020 |
All Funds 2020 £ 45,941 1,001 0 |
|---|---|
| 46,942 | |
| 1,052 30,343 |
|
| 31,395 | |
| 15,547 1,345,544 |
|
| 1,361,091 |
The notes on pages 7 to 9 form part of these accounts
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BABA WADBHAG SINGH TRUST Balance Sheet as at 31 May 2021
| Notes 2021 £ Fixed assets Tangible assets 5 1,098,559 Current assets Other debtors 2,911 Cash at bank and in hand 6 441,389 444,300 Creditors: amounts falling due within one year 7 (14,354) Net current assets 429,946 Total assets less current liabilities Creditors: amounts falling due after more than one year 8 123,761 Net assets 1,404,744 Represented by: Unrestricted funds 9 1,404,744 1,404,744 Approved by the Board of Trustees on 23 March 2022 and signed on its M S Dhiman M Saluja |
2020 £ 1,099,157 2,634 406,600 409,234 (13,230) 396,004 134,070 1,361,091 1,361,091 1,361,091 behalf by Chairman Treasurer |
2020 £ 1,099,157 2,634 406,600 409,234 (13,230) 396,004 134,070 1,361,091 1,361,091 1,361,091 behalf by Chairman Treasurer |
|---|---|---|
| behalf by Chairman Treasurer |
||
| 134,070 | ||
| 1,361,091 | ||
| 1,361,091 | ||
| 1,361,091 | ||
The notes on pages 7 to 9 form part of these accounts.
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BABA WADBHAG SINGH TRUST Notes to the Accounts for the year ended 31 May 2021
1 Accounting policies
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective June 2002) and the Statement of Recommended Practice on Accounting by Charities (SORP).
Income
Income is received from donations, gifts and grants and is recorded on a receipts basis.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
| Furniture and fixtures 15% reducing balance 2 Income 2021 Unrestricted Fund Donations 49,978 Giftaid Refund 9,659 59,637 3 Other direct charitable expenditure 2021 £ Food for congregation 55 55 |
Furniture and fixtures 15% reducing balance 2 Income 2021 Unrestricted Fund Donations 49,978 Giftaid Refund 9,659 59,637 3 Other direct charitable expenditure 2021 £ Food for congregation 55 55 |
2020 45,941 - |
|---|---|---|
| 59,637 | 45,941 | |
| 2021 £ 55 |
2020 £ 1,052 |
|
| 55 | 1,052 |
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BABA WADBHAG SINGH TRUST Notes to the Accounts for the year ended 31 May 2021
| 4 Management & Administrative Expenditure Water rates Heat & light Cleaning p Telephone Wages Legal and professional fees Insurance Repair and maintenance Accountancy and auditing g Loan interest Depreciation 5 Tangible fixed assets Land and buildings £ Cost At 1 June 2020 1,095,167 At 31 May 2021 1,095,167 Depreciation At 1 June 2020 - Charge for the year - At 31 May 2021 - Net book value At 31 May 2021 1,095,167 At 31 May 2020 1,095,167 |
2021 £ - 4,266 - 486 - - 5,405 1,507 1,800 2,167 598 |
2020 £ 879 7,518 - 692 9,131 - 4,858 2,024 1,800 2,737 704 30,343 library books Total £ £ - 1,109,233 |
|---|---|---|
| 16,229 | ||
| Furniture & fittings £ 14,066 |
||
| 14,066 | - 1,109,233 |
|
| 10,076 598 |
- 10,076 - 598 |
|
| 10,674 | - 10,674 |
|
| 3,392 | - 1,098,559 |
|
| 3,990 | - 1,099,157 |
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BABA WADBHAG SINGH TRUST Notes to the Accounts for the year ended 31 May 2021
| 6 Cash in hand and at bank Bank - Current account Bank - Premier account Cash in hand 7 Creditors due in one year Accruals Other taxes and social security Bank Loan 8 Creditors due after one year Bank Loan 9 Statement of funds Unrestricted fund of the Charity Restricted fund of the Charity |
2021 73,183 367,906 300 |
2020 53,694 352,606 300 |
|---|---|---|
| 441,389 | 406,600 | |
| 5,400 (43) 8,997 |
3,600 633 8,997 |
|
| 14,354 | 13,230 | |
| 123,761 | 134,070 | |
| 123,761 | 134,070 | |
| £ 1,404,744 - |
£ 1,361,091 - |
|
| 1,404,744 | 1,361,091 |
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