2021-03-31-accounts - Sikh History And Religious Education (Share)

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SHARE CHARITY

(SIKH HISTORY AND RELIGIOUS EDUCATION)

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

SHARE CHARITY

FINANCIAL STATEMENTS 31 MARCH 2021

Contents
	Page
Charity reference and administrative information	1
Report of the Trustees’ Annual Report	2
Independent examiner’s report	4
Statement of financial activities	5
Balance sheet	6
Notes to the financial statements	7-8

SHARE CHARITY

CHARITY INFORMATION FOR THE YEAR ENDED 31 MARCH 2021

Reference and administration information:

Trustees: T Dhesi Mrs N Kaur B Singh J Singh G Singh Principal office: 47-49 Cross Road Coventry Warwickshire CV6 5GR

Charity No: 1120428

Independent Examiner:

G R Cox FCA Dafferns LLP Chartered Accountants One Eastwood Harry Weston Road Binley Business Park Coventry CV3 2UB

SHARE CHARITY

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP 2019 (FRS 102);
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, The Charities (Accounts and Reports) Regulations and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ACTIVITIES AND CHARITABLE OBJECTS

The objectives for which the Charity are to advance the Sikh religion and Sikh religious education. The relief and assistance of people in any part of the world who are the victims of war or natural disaster, trouble, or catastrophe in such ways as the Trustees shall think fit.

The Charity depends on the support of its members for its continuing success.

The Trustees have had regard to the Charity Commission’s guidance on public benefit.

ACHIEVEMENTS AND PERFORMANCE

Major activities this year in order to achieve the above objectives have been:

Development and release of STTM app for the mobile;
Development and release of Simran Reminder app;
Drafting of the "Why Am I Here" breakthrough book;
Creation of a number of infographics;
Delivery of the Enlightenment Course at various locations across the UK and Europe;

FINANCIAL REVIEW

The Charity’s finances show a surplus on ordinary activities of £3,290 for the year ended 31 March 2021. Unrestricted funds carried forward at 31 March 2021 total £38,721.

RESERVES POLICY

The Trustees have examined the Society’s requirements for reserves in the light of the main risks to the organisation. The Society aims to hold financial reserves of £4,000.

SHARE CHARITY

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

GOVERNING DOCUMENT

The Charity is governed by its constitution. The Charity was registered on 11 October 2009 (No: 1120428).

RECRUITMENT AND APPOINTMENT OF TRUSTEES

Share Charity is run by the trustees who determine the appointment of new trustees.

Approved by order of the board of trustees on 20 February 2022 and signed on their behalf by:

N Kaur - Trustee

SHARE CHARITY

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF SHARE CHARITY

I report on the accounts of the Society for the year ended 31 March 2021 which are set out on pages 5 to 8.

Respective responsibilities of trustees and examiners

As the charity’s trustees 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 charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

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 charity 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 have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

G R Cox FCA For and on behalf of Dafferns LLP Chartered Accountants, One Eastwood, Harry Weston Road, Binley Business Park, Coventry, CV3 2UB

Date: 20 February 2022

SHARE CHARITY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Income from:
Donations, Fund Raising & Membership Fee

Total Income
Expenditure on:
Purchases
Advertising and PR
Accounts and Independent examination fee
Bank charges
Other costs
Insurance
IT Software and Consumables
Recording costs and app development
Stationery and printing
Telephone and internet
Donations
Subscriptions
Entertainment
Total expenditure
Net income/(expenditure)
Fund balance at 1 April 2020
Fund balance at 31 March 2021

2021
2020
Unrestricted funds
£
£

72,785
78,097
__
_
72,785
78,097

565
71
355
2,104
1,407
1,593
766
763
1,257
771
456
432
1,633
692
51,772
63,045
10,637
1,826
511
1,124
-
9,710
228
161
-
83

___
69,587
82,375

3,198
(4,278)

35,431
39,709

38,629
35,431

The notes on pages 7 to 8 form part of these financial statements

SHARE CHARITY

BALANCE SHEET AS AT 31 MARCH 2021

Notes Current assets Debtors Bank and cash Creditors: amounts falling due within one year Net current assets Net assets Reserves General fund - Unrestricted	2021 £ - 38,629 38,629 -	£ 38,629 38,629 38,629	2020 £ 775 35,339 36,114 (683)	£ 35,431 35,431 35,431

The financial statements were approved by the Board of Trustees 20 February 2022 and were signed on its behalf by:

The notes on pages 7 to 8 form part of these financial statements.

SHARE CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. Accounting policies

Basis of preparing the financial statements

Share Charity is an unincorporated entity. The operational address is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are stated on page 2.

The charity constitutes a public benefit entity as defined by FRS 102. 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102), the Charities Act 2011, and UK Generally Accepted Practice.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the 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 issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.

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

Income

All income is recognised in the Statement of Financial Activities when the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

All the charity’s funds are unrestricted.

2. Related party transactions and Trustees’ remuneration and benefits

There were no trustees’ remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020. Payments totaling £26,245 (2020: £33,185) were made to TEK5 Ltd in respect of app development. Mr J Singh is the brother-in-law of T Singh who is a director of TEK5 Ltd. At 31 March 2021 there were no amounts outstanding between the charity and TEK5 Ltd (2020: £Nil).

SHARE CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)

3. Independent examiners remuneration

The independent examiners remuneration amounts to an independent examination fee of £750.

4. Funds

All funds are unrestricted.