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← Sangam Foundation

2024-03-31-accounts

Docusign Envelope ID: 4058862D-F229-444A-B5A8-74C4D05F4DDE

Company registration number: 06209806 Charity registration number: 1119239

Sangam Foundation

(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2024

Ripe LLP Chartered Accountant and Registered Auditor 9a Burroughs Gardens London NW4 4AU

Docusign Envelope ID: 4058862D-F229-444A-B5A8-74C4D05F4DDE

Sangam Foundation

Contents

Trustees Report 1 to 8
The Statement of Responsibilities 9
Independent Auditors' Report 10 to 13
Statement of Financial Activities 14 to 15
Balance Sheet 16
Notes to the Financial Statements 17 to 28

Docusign Envelope ID: 4058862D-F229-444A-B5A8-74C4D05F4DDE

Sangam Foundation

Trustees Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 March 2024.

Financial review

The charity has net assets and reserves of £4,060,125 (2023: £3,954,591) at 31 March 2024 , including £570,067 (2023: £443,131) of bank balances.

Policy on reserves

The Board of Directors have established a policy whereby the company should hold unrestricted funds not committed or invested in tangible fixed assets (being "the free reserves"), equating to six months’ worth of the resources expended, being £76,266 . At this level, the board members feel that they would be able to carry on the company's activities in the event of a reduction in funding. Steps being taken to increase the level of reserves are proving positive but continuous assessment and new resources are needed.

At present, free reserves, which amount to £232,877, do not reach the target level and the Committee is considering strategies to raise additional funds. Designated funds have been set up to cover costs of expected expenditure.

Going concern

The Sangam Board have been working hard, focusing their energy on rebuilding Sangam’s services and getting our hall rental income back on track. We have been thinking hard on how to rebrand ourselves to reflect our new direction and secure the future of Sangam.

Sangam’s decision to close the in-house services was always with the intention of supporting other charitable service providers with similar objectives through grants or outsourcing these services at our premises. Being funders is a new concept for Sangam, hence a lot of investigation, caution and deliberation is being taken to ensure we fund the right charities that match our criteria and expectation.

Finally, one of the charity principles aims to diversify our income streams.

Last year highlighted the risks of being overly reliant on hall hire. In order maintain our longer-term sustainability, we will aim for a larger split between grant, hall hire and events income.

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

President: Piyusha Virani
Trustees: Parul Gajjar
Piyusha Virani
Suchitra Kabra
Sudha Sanghani
Shobhna Patel
Heeral Gudka (resigned 28 February 2024)

Page 1

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Sangam Foundation

Trustees Report

Reference and Administrative Details

Charity Registration Number: 1119239
Company Registration Number: 06209806
The charity is incorporated in England and Wales.
Registered Office: 210 Burnt Oak Broadway
Edgware London
Middlesex
HA8 0AP
Independent Examiner: Ripe LLP
Chartered Accountant and Registered Auditor
9a Burroughs Gardens
London
NW4 4AU
Solicitors: Russell-Cooke LLP
8 Bedford Row
London
WC1R 4BX

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Sangam Foundation

Trustees Report

Message from Chairperson

The year started with the Board of Directors, coming together in deliberating on how Sangam is to go forward. The number of Directors were dwindling and new membership was almost nil. We desperately need more management level volunteers especially new trustees with new visions to keep the charity going. We were no longer a service provider but wanted to keep doing the good work in helping the community.

The team had worked hard during the last few months to get the banqueting rooms of the Sangam Centre rented out enabling a steady income coming in. The goal was to use these funds against new projects and join hands with other charities and service providers. We were finding that getting this message across was not that easy.

Our first job was to update our website to inform people of our new direction. We consulted with a few website designers and marketing specialists which made us examine what is it we stand for today and what is that we want to achieve. That took a lot of debating within our team and exchanging views with ex-directors. We even met with some of our younger members to understand how we could attract the next generation to join Sangam.

From all the deliberation, we realised that we want to give funding to help the wider community and to be relevant to the next generation however, our name Sangam Association of Asian Women did not reflect our objectives and direction. After a lot of discussions and brainstorming with our website and marketing team, our solicitors and previous directors of Sangam, we came up with the name Sangam Foundation which encompassed the breadth of activities we do more appropriately.

Now the big job was to get this name approved by the Sangam members. The BOD prepared their arguments and reasons for this change and are happy to announce that at the AGM September 2023, the name Sangam Foundation was unanimously passed by the members.

Once approval from the charity commission was received in October, we started the process of creating a new website and logo for Sangam Foundation. After countless meetings and discussions, looking at colour schemes, content, imagery etc, the Sangam Foundation website is now ready.

At the same time, the Sangam Board of Directors, working towards building a funding charity, were meeting up with different charitable organisation to collaborate and bring back much needed services to the Sangam centre. One such collaborations is with Women’s India Association of UK, creating the Maitri Project, a pilot scheme supporting services for the wider community at the Sangam premises. Through this collaboration, we started the Asian Family Counselling Service, Pro Bono Legal Advice by RPK Solicitors and free Hot Meals every Wednesday supported by NishkamSWAT.

For Christmas we, supported the Noah’s Ark Hospice. To encourage physical wellbeing of the local community, we started Yoga classes in September at a nominal £2 aimed at beginners and mature adults. The IAfrica project building a sanitation block for young girls in Kenya was completed.

While a lot of effort was going toward creating the new Sangam Foundation, our day to day work and activities at the centre had to be overseen as well i.e. building maintenance, Senior citizens’ club, bridge, fundraising events, etc.

Maintenance

Building maintenance had its share of unexpected plumbing and electrical repairs. A leak in the ground floor air-conditioning was repaired together with a service during the Easter weekend and a water leak in the Bagri Hall.

Lighting in washrooms, hallway and foyer was renewed on ground floor for efficiency. An EICR - an extensive electrical check of the whole building was carried out as a requirement by our insurers Aviva. A new Electrical contract with SSE was agreed reducing our monthly charges.

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Sangam Foundation

Trustees Report

The following annual servicing was undertaken: CCTV, PAT testing, Bush Fire Lift Service, Gardsec- Alarm service, Flexi wall- Hall partitioning, MMA Hall carpet cleaning.

Some major works due to be carried out in the coming year:

The twin head pump to the boiler to be changed, refurbishment of our Main Entrance doors and foyer, refurbishing reception area and resource room and second floor rooms and toilets.

A new Sangam signage on front of the building and window panes throughout the building needs to be replaced.

Activities

Senior Citizen’s Club

Senior Ladies Club

Every Tuesday at the Sangam hall. 11:30 to 12:30 Seniors’ Yoga classes annual membership £55 12:30 to 3pm is get together and Satsang Annual Membership £11.

We have 72 senior ladies members

To encourage social and physical wellbeing of our senior members we have kept the yearly memberships of our clubs to a very nominal amount. The seniors had a busy year with activities and celebrating the many festival throughout the Hindu calender year. Due to the rain, the planned picnic in July was moved to Sangam centre but did not dim their fun as they made up by playing fun games and Antakshri.

Joint Ladies and Men’s Seniors Club celebrated Diwali on Nov 2, 2023 with a traditional lunch and music by Marina Melody & Group. Program was sponsored by Divyang Bhatt and family.

The Seniors Club’s chosen charity for the Aarti money totalling £ 210 was the Moorfield Eye Hospital.

A joint Christmas party was held on Dec 5, 2023 with a Zoomba workshop by Neha Patel. There was some enthusiastic moves all-around followed by games. Party was thoroughly enjoyed by all. Lady Usha Bagri donated £200 toward the Christmas party with games, Zoomba workshop with Neha Patel and thoroughly enjoyed The party with lots of fun.

In March seniors celebrated Mothers Day and Holi with live music by Achala & group.

Women's Day was also marked with inspirational discussions remembering how they overcame their difficult journeys when they moved to this country.

Senior Men’s Club

Mondays form 12pm to 3pm

Since Covid, the Men’s club has dwindled in number and have not been meeting regularly. To encourage more members, we have not kept any membership fees and also provide snacks.

Friends of Sangam

Membership is made up from the past Board of Directors and Sub-committee volunteers. It created a social platform for the members to stay connected. They use the centre to have get-togethers and also organise and help the directors at fund raising events. For Christmas they met for lunch at a local Italian.

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Sangam Foundation

Trustees Report

Bridge

The Bridge club is growing. Now we have 38 regular members who plays Real bridge online. They pay £50 per year membership. We have some players who came occasionally and pay one off payment of £2.

We had a very enjoyable Bridge Christmas party on November 23, 2023. We had face to face bridge session. Lady Usha Bagri sponsored the food. Everyone enjoyed it and we received £380 as a donation from bridge members.

We run occasional bridge classes and have a new beginner’s bridge course of 10 lessons for £125 which started in March 2023.

Yoga

Yoga classes for all levels especially suited for beginners and mature adults started in September 2023. To encourage the local community, we charged a nominal £2 per class. We have now some 7 to 8 regular attendees.

Grants and projects

Sangam Foundation offers grants to non-profit charitable organisation actively supporting and empowering communities. Some will be smaller one-off grants and others will be more long term funding. We are in the process of preparing the application forms

Our primary objectives are:

We have given a one off funding to the IAfrica project to build a sanitation block for young girls for a school in Kenya. We annually donate for Christmas to the Noah’s Ark Hospice. We have collaborated with the Womens’ India Association of UK under the Maitri Project, a pilot scheme to identify and support the needs of the wider community at the Sangam premises. It offers the following services:

1. Asian Family Counselling Service AFCS has been running counselling services at Sangam since July 2023. In total, we have received 28 referrals, but only 19 clients were suitable for our service. In total, 172 sessions of counselling have been held.

Out of the 19 clients seen,3 were men. 11 clients have been discharged and 8 are ongoing. The clients being referred for counselling to Sangam are mainly women who have suffered trauma in their lives arising from violence at the hands of family members. Most have suffered in silence and coming to Sangam for counselling is the first time they have been able to share their pain. The main issues have been family, marital, anxiety, depression, domestic violence and trauma. Counselling at Sangam is now offered on Fridays and Mondays, so as to give clients a choice of day. Online and telephone counselling has also been provided to those clients that were unable to come into the office for counselling.

Case A

The client is a 44-year-old woman who was referred to us for anxiety related issues by the Mental health services. She presented various issues - carer of her estranged husband who has physical and mental health issues which are long term. She was brought here from Pakistan in marriage to her husband who has physical and mental health issues. She was not told of the problems before. She was made to look after him and had to sleep on the floor, next to his bed.

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Sangam Foundation

Trustees Report

She had escaped an abusive marriage in Pakistan. Husband in the UK kicked her out when she was 6 months pregnant, and she ended up living in a refuge. She is living in a flat with her 6-year-old son (who is also beginning to suffer anxiety because of the neighbour). For the last 4 years she has lived in fear of a neighbour who shouts constantly to frighten her whenever she leaves her flat. She says she is frightened to go out. She has reported this to the Housing Association and the police - no one has offered her any help. She feels as if her “head will burst and her heart is constantly pounding”. This client has had 20 sessions and the work with her is likely to be long term because of the layers of trauma.

Case B

Client B is a 72-year-old woman who was referred because of depression. She has had 12 sessions. In the last three sessions the client has got in touch with her repressed anger over her treatment by her siblings and then by her husband who appears to be controlling. The client has felt she has had no voice until recently and now this is coming out as anger. We have started work on how to manage the anger and also consider the root of this - which lies in her teenage years when she first came to the UK from Kenya.

Now that the client has acknowledged this anger, I will use CBT to help her manage her anger constructively. This should help alleviate the depression which was one of the presenting issues

2. Pro Bono Legal Advice by RPK Solicitors Ltd

RKP Solicitors led by Ratika Puri Kapoor, specialise in all aspects of UK immigration and nationality law, UK residency and visa related matters. They offer free consultations once a month on a Thursday to Sangam clients in person at the centre or remotely.

3. Free Hot Meal Service supported by NishkamSWAT

The Hot Meal service started December 2023 to help those in need during the winter months and the dire economic times. Every Wednesday, the NishkamSWAT team comes with their van ensuring safety and support for this service. We started with 30 hot meals being served in disposable containers. The SWAT team bring drinks and dry snacks to add to the meals. The local community comes and there are many regulars who are waiting every Wednesday for the bag of hot meal and snacks. We now serve approximately 80 meals every week. We have had some meals provided as donations but need more local restaurants and our members to participate.

Events and membership

We have a membership of 290 life members and 14 annual members. All our newsletters and other information are sent by email. Our administrator uses Mailchimp to create our newsletter contents for a consistent look and Canva for images and posters.

We have had a number of events for our members and friends. The Suhani Shaam Evening in June with dinner and live music by Mohammed Vakil was enjoyed by all. Later that month we celebrated International Yoga Day with meditation and Yoga sessions.

Our Diwali Gala Lunch with music and market stalls was a hit with the ladies coming out in their beautiful traditional outfits.

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Sangam Foundation

Trustees Report

The Bridge club had a Christmas Party at the centre. After always playing online, the members were excited for a face to face card session followed by lunch.

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Sangam Foundation

Trustees Report

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

19 December 2024 | 15:26 GMT

The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:

(> ......................................... D6CA0842509A475... by: Piyusha Virani Chief Executive Officer and Trustee

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Sangam Foundation

The Statement of Responsibilities

The trustees (who are also the directors of Sangam Foundation for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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Sangam Foundation

Independent Auditor's Report to the Members of Sangam Foundation

Opinion

We have audited the financial statements of Sangam Foundation (the 'charity') for the year ended 31 March 2024, which comprise the Statement of Financial Activities, Balance Sheet, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

In the previous year the trustees of the charity took advantage of audit exemption under s477 of the Companies Act. Therefore the prior year financial statements were not subject to audit and we are not aware of any material misstatements in the comparative figures.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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Sangam Foundation

Independent Auditor's Report to the Members of Sangam Foundation

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the The Statement of Responsibilities (set out on page 9), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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Sangam Foundation

Independent Auditor's Report to the Members of Sangam Foundation

Auditor responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it 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 the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

We design procedures and tests in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

We obtain an understanding of the legal and regulatory frameworks that are applicable to the entity by reviewing the Charity Commission website, the Companies Act 2006 and Charities SORP (FRS 102 1A).

We make enquiries of management and those charged with governance around actual and potential litigation and claims.

We review minutes of meetings of those charged with governance.

We review financial statement disclosures and test to supporting documentation to assess compliance.

We audit the risk of management override of controls and evaluate the business rationale of significant transactions outside the normal course of business.

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Sangam Foundation

Independent Auditor's Report to the Members of Sangam Foundation

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

...................................... 5CE8C9816FB843C... (Senior Statutory Auditor) For and on behalf of Ripe LLP, Statutory Auditor 9a Burroughs Gardens London NW4 4AU

19 December 2024 | 15:40 GMT Date:.............................

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Sangam Foundation

Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

SOFA for the year-ended 31 Mar 2024
Note
Income from:
Voluntary income
3
Charitable activities
4
Activities for generating funds
5
Investment income
6
Total Income
Expenditure on:
Charitable activities
7
Raising funds
8
Total Expenditure
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
19		 Unrestricted
£
5,673
6,212
235,080
7,857
254,822
(392)
(127,945)
(128,337)
126,485
126,485
3,253,680
3,380,165		 Restricted
£
3,243
-
-
-
3,243
-
(24,194)
(24,194)
(20,951)
(20,951)
700,911
679,960		 Total
2024
£
8,916
6,212
235,080
7,857
258,065
(392)
(152,139)
(152,531)
105,534
105,534
3,954,591
4,060,125

The notes on pages 17 to 28 form an integral part of these financial statements. Page 14

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Sangam Foundation

Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

SOFA for the year-ended 31 Mar 2023
Note
Income and Endowments from:
Voluntary income
3
Charitable activities
4
Activities for generating funds
5
Investment income
6
Total income
Expenditure on:
Charitable activities
7
Raising funds
8
Total expenditure
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
19		 Unrestricted
funds
£
1,325
2,918
173,657
1,267
179,167
(38)
(110,912)
(110,950)
68,217
68,217
3,185,463
3,253,680		 Restricted funds
£
2,737
941
-
-
3,678
(941)
(24,663)
(25,604)
(21,926)
(21,926)
722,837
700,911		 Total
2023
£
4,062
3,859
173,657
1,267
182,845
(979)
(135,575)
(136,554)
46,291
46,291
3,908,300
3,954,591

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 19.

The notes on pages 17 to 28 form an integral part of these financial statements. Page 15

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Sangam Foundation

(Registration number: 06209806) Balance Sheet as at 31 March 2024

2024 2023
Note £ £
Fixed assets
Tangible assets 14 3,532,524 3,555,359
Current assets
Debtors 15 12,682 17,605
Cash at bank and in hand 16 570,067 443,131
582,749 460,736
Creditors: Amounts falling due within one year 17 (55,148) (61,504)
Net current assets 527,601 399,232
Net assets 4,060,125 3,954,591
Funds of the charity:
Restricted 679,959 700,910
Unrestricted income funds
Unrestricted 3,380,166 3,253,681
Total funds 19 4,060,125 3,954,591

19 December 2024 | 15:26 GMT

The financial statements on pages 14 to 28 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:

(> ......................................... by: D6CA0842509A475... Piyusha Virani Chief Executive Officer and Trustee

The notes on pages 17 to 28 form an integral part of these financial statements. Page 16

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Sangam Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

1 Charity status

The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

The address of its registered office is: 210 Burnt Oak Broadway Edgware London Middlesex HA8 0AP

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Sangam Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

The financial statements are presented in Sterling (£) and figures are shown to the nearest whole pound.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

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Sangam Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

Donated services and facilities

Where services or facilities are provided to the charity as a donation that would normally be purchased from our suppliers, this benefit is included in the financial statements at its fair value unless its fair value cannot be realiably measured, then at the cost to the donor or the resale value of goods that are to be sold.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £1,500 or more are initially recorded at cost.

The property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the trustees. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the statement of financial activities.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate
Fixtures and fittings 5 years on cost

Page 18

Docusign Envelope ID: 4058862D-F229-444A-B5A8-74C4D05F4DDE

Sangam Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

Land and buildings

50 years on cost

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Page 19

Docusign Envelope ID: 4058862D-F229-444A-B5A8-74C4D05F4DDE

Sangam Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

3 Income from donations and legacies

Unrestricted

General
£
Donations
4,869
Subscriptions and membership
804
5,673
4
Income from charitable activities
Tuition fees
Grants receivable
5
Income from activities for generating funds
Fundraising events
Hall letting and other hire
6
Investment income
Interest receivable on bank deposits		 Restricted
£
3,243
-
3,243
Unrestricted
General
£
6,212
-
6,212
Unrestricted
General
£
5,545
229,535
235,080
Unrestricted
General
£
7,857		 Total
2024
£
8,112
804
8,916
Total
2024
£
6,212
-
6,212
Total
2024
£
5,545
229,535
235,080
Total
2024
£
7,857		 Total
2023
£
3,219
843
4,062
Total
2023
£
2,918
941
3,859
Total
2023
£
2,238
171,419
173,657
Total
2023
£
1,267

Page 20

Docusign Envelope ID: 4058862D-F229-444A-B5A8-74C4D05F4DDE

Sangam Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

7 Expenditure on charitable activities

Unrestricted

Unrestricted
Note
Wages and salaries
Postage and stationery		 General
£
-
392
392		 Total
2024
£
-
392
392		 Total
2023
£
941
38
979

8 Expenditure on raising funds

Unrestricted

Note
Rates and water
Insurance
Light and heat
Classes expenses
Repairs and maintenance
Telephone
Subscriptions
Sundry expenses
Cleaning
Computer expenses
Training
Bank charges
Depreciation of long
leasehold property
Depreciation of fixtures and
fittings
Wages
Staff pensions
Recruitment
Fundraising expenses
Sundry expenses
Marketing
Governance costs
9		 General
£
2,467
2,744
29,973
3,702
4,472
2,050
-
13,718
14,372
3,630
107
449
-
430
18,663
224
-
6,236
-
675
24,033
127,945		 Restricted
£
-
-
-
-
-
-
-
-
-
-
-
-
20,900
1,505
-
-
-
1,789
-
-
-
24,194		 Total
2024
£
2,467
2,744
29,973
3,702
4,472
2,050
-
13,718
14,372
3,630
107
449
20,900
1,935
18,663
224
-
8,025
-
675
24,033
152,139		 Total
2023
£
4,875
2,802
18,614
7,325
9,906
1,666
140
2,582
8,753
3,850
-
527
20,900
1,935
27,250
302
21
8,371
3
-
15,753
135,575

Page 21

Docusign Envelope ID: 4058862D-F229-444A-B5A8-74C4D05F4DDE

Sangam Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

9 Analysis of governance and support costs

Unrestricted

Independent examiner fees
Examination of the financial statements
The audit of the charity's annual accounts
Light and heat
Insurance
Repairs and maintenance
Telephone
Computer costs
Rates and water
Cleaning
Accountancy fees
Legal and professional fees		 General
£
-
5,875
1,578
144
235
108
191
130
757
4,603
10,412
24,033		 Total
2024
£
-
5,875
1,578
144
235
108
191
130
757
4,603
10,412
24,033		 Total
2023
£
3,600
-
980
147
522
87
203
256
461
4,825
4,672
15,753

10 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

11 Independent examiner's remuneration

11 Independent examiner's remuneration
Examination of the financial statements
12 Auditors' remuneration
Audit of the financial statements		 2024
£
-
2024
£
5,875		 2023
£
3,600
2023
£
-

13 Taxation

The charity is a registered charity and is therefore exempt from taxation.

Page 22

Docusign Envelope ID: 4058862D-F229-444A-B5A8-74C4D05F4DDE

Sangam Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

14 Tangible fixed assets

14 Tangible fixed assets
Cost or valuation
At 1 April 2023
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Land and
buildings
£
4,032,292
4,032,292
479,731
20,900
500,631
3,531,661
3,552,561		 Furniture and
equipment
£
271,508
271,508
268,710
1,935
270,645
863
2,798		 Total
£
4,303,800
4,303,800
748,441
22,835
771,276
3,532,524
3,555,359

Included within the net book value of land and buildings above is £3,531,660 (2023 - £3,552,560) in respect of leaseholds.

Page 23

Docusign Envelope ID: 4058862D-F229-444A-B5A8-74C4D05F4DDE

Sangam Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

15 Debtors

Prepayments
VAT recoverable
Other debtors
16 Cash and cash equivalents
Cash on hand
Cash at bank
17 Creditors: amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals		 2024
£
4,851
7,831
-
12,682
2024
£
303
569,764
570,067
2024
£
1,067
88
45,555
8,438
55,148		 2023
£
-
5,222
12,383
17,605
2023
£
829
442,302
443,131
2023
£
3,129
90
53,703
4,582
61,504

18 Pension and other schemes

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £224 (2023: £302).

Contributions totalling £44 (2023 - £43) were payable to the scheme at the end of the year and are included in creditors.

Page 24

Docusign Envelope ID: 4058862D-F229-444A-B5A8-74C4D05F4DDE

Sangam Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

19 Funds

Unrestricted funds

Unrestricted funds
General
General fund
Property Revaluation Fund
Designated
Building Maintenance and Renovations
Redundancy Fund
Litigation Fund
Contingency Fund
Building Maintenance Sinking Fund
Total unrestricted funds
Restricted funds
Building Fund (Capital)
Equipment fund (Capital)
Domestic Violence Project
Senior Citizen - Events
Building Maintenance Project
Total restricted funds
Total funds		 Balance at 1
April 2023
£
106,394
2,987,287
3,093,681
20,000
10,000
20,000
10,000
100,000
160,000
3,253,681
565,272
1,505
92,482
299
41,352
700,910
3,954,591		 Incoming
resources
£
254,822
-
254,822
-
-
-
-
-
-
254,822
-
-
-
3,243
-
3,243
258,065		 Resources
expended
£
(128,337)
-
(128,337)
-
-
-
-
-
-
(128,337)
(20,900)
(1,505)
-
(1,789)
-
(24,194)
(152,531)		 Balance at 31
March 2024
£
232,879
2,987,287
3,220,166
20,000
10,000
20,000
10,000
100,000
160,000
3,380,166
544,372
-
92,482
1,753
41,352
679,959
4,060,125

Page 25

Docusign Envelope ID: 4058862D-F229-444A-B5A8-74C4D05F4DDE

Sangam Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

Unrestricted funds
General
General fund
Property Revaluation Fund
Designated
Building Maintenance and Renovations
Redundancy Fund
Litigation Fund
Contingency Fund
Building Maintenance Sinking Fund
Total unrestricted funds
Restricted
Building Fund (Capital)
Equipment fund (Capital)
Domestic Violence Project
Senior Citizen - Events
Building Maintenance Project
Kickstart Community Barnet
Total restricted funds
Total funds		 Balance at 1
April 2022
£
38,177
2,987,287
3,025,464
20,000
10,000
20,000
10,000
100,000
160,000
3,185,464
586,172
3,010
92,302
-
41,352
-
722,836
3,908,300		 Incoming
resources
£
179,167
-
179,167
-
-
-
-
-
-
179,167
-
-
180
2,557
-
941
3,678
182,845		 Resources
expended
£
(110,950)
-
(110,950)
-
-
-
-
-
-
(110,950)
(20,900)
(1,505)
-
(2,258)
-
(941)
(25,604)
(136,554)		 Balance at 31
March 2023
£
106,394
2,987,287
3,093,681
20,000
10,000
20,000
10,000
100,000
160,000
3,253,681
565,272
1,505
92,482
299
41,352
-
700,910
3,954,591

Page 26

Docusign Envelope ID: 4058862D-F229-444A-B5A8-74C4D05F4DDE

Sangam Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

The specific purposes for which the funds are to be applied are as follows:

General

a. General fund - represents the free funds of the charity, which are not designated for purposes and therefore, the trustees can use the funds in accordance with the charitable objectives.

b. Property Revaluation Fund - this is a non-distributable fund relating solely to the revaluation gain arising on the property at fair value, which has been recognised in the SOFA.

Designated funds are set aside from the general fund and used for a particular purpose as follows:

a. Building Maintenance and Renovations Fund: purpose of general upkeep.

e. Building Maintenance Sinking Fund: covers the costs relating to long term renovations to the building.

Restricted Funds

a. The Building Fund (Capital Asset): represents the net book value of the building owned by the charity. The Building was funded by donations given for this purpose together with other capital expenditure funded from the day to day working capital. The outgoing amount represents the building depreciation charge.

b. The Equipment Fund (Capital Asset): represents the net book value of the equipment owned by the charity. The outgoing amount represents the equipment depreciation charge.

e. Building Upgrade Project: provide better facilities for access to the less able to all areas of the building, particularly lifts to all floors.

Page 27

Docusign Envelope ID: 4058862D-F229-444A-B5A8-74C4D05F4DDE

Sangam Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

20 Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
2,988,149
447,162
(55,147)
3,380,164
Unrestricted
funds
General
£
2,988,579
326,603
(61,503)
3,253,679		 Restricted
funds
£
544,374
135,587
-
679,961
Restricted
funds
£
566,779
134,133
-
700,912		 Total funds at 31
March
2024
£
3,532,523
582,749
(55,147)
4,060,125
Total funds at 31
March
2023
£
3,555,358
460,736
(61,503)
3,954,591

21 Related party transactions

There were no related party transactions in the year.

Page 28