SHARE CHARITY (SIKH HISTORY AND RELIGIOUS EDUCATION) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IIIARCH 2024 SHARE CHARITY FINANCIAL STATEMENTS 31 MARCH 2024 Contents Page Chafity reference and admiDi8tr8tive inlomation Report of th• TnJ8te•$' Annual Report Ind•pendent examinerf$ report Statemont of financlol aCt￿ltie9 Balanca 8heet Notes to the financial statements 74 SHARE CHARITY CHARITY INFORMATION FOR THE YEAR ENDED 31 MARCH 2024 Referenca and administratiOA Infomiatlon: Trustees.. T Dhesi Mrs N Kaur B Singh J Singh G Singh Prlnclpal office: 47-49 Cr088 Road Coventry Wesl Midlands CV6 5GR Charity No.. 1120428 Independent Examlner: GRCOXBAFCA Dafferns LLP Chartered Accountants One Easlwood Harry Weston Road Bin18y Business Park Coventry CV3 2U8 SHARE CHARITY TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees are responsible for preparing the Twstees, Annual Report and the financial stateft￿nts in accordance with applicable law and United Kingdom A¢￿Unting 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 whlch give a Iru6 and fair view of the state of affairs of the charity and of the incoming resources and applic8tlon of resources of the charity for that period. In preparing these rinancial Statements, the tru8tee5 are required to: 8elect sultable accounting policles and then apply them con51Stently. observe the methods and prinGiples in the ChaTlties SORP 2019 (FRS 102); make judgements and estimates that are reasonable and prudent. slate whether applicable acwunting Standards have bèèn followed, subject to any material departures disclosed and explalned in the financial statements. prepare the financial slatements on a going Concern basis unles8 it Is Inappropriate to presum8 that the charity will continue in operation. The trustees ar• responsible for keeping proper xcounting records that disclose with reasonable accuracy al any time the financial position of the charity and enable them to ensure that the financlal statements comply with the Charities Act 2011. The Charities (Accounts and Reports) Regulalions and the provisions of the trust deed. They are a180 responsible for safeguarding the as8ets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irre9ulaTitie8. ACTIVITIES AND CHARITABLE OWECTS The objectives for which the Charity are to advance the Sikh religion and Sikh religious educatson. 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 8UPPOrt of its members for its continuing succes8. The Trustees have had regard to the Chaflty Comm18slon's guidance on public benèfit. ACHIEVEMENTS AND PERFORMANCE Major actlvltie$ th18 year lo achieve th6 above objec(ives havo been: RÈlea3e of'ls that Paras, Turban?, Release of'ls that Paras. Kara?, There were two Sikh Recovery NetrNork retreats University Parchaar Tour In India FINANCIAL REVIEW The Chanty's finan￿$ show a profrt on ordinary activities of£28,934 for the year ended 31 Mwch 2024. Unrestricted funds caffied forward on 31 March 2024 total £111,271. RESERVES POLICY The Trustees have examined the Societws requirements for reserves in the light of the main risks to the organisalion. The Society aims to hold financial reserves of £4,000. SHARE CHARITY TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT GOVERNING DOCUMENT The Charity is govemed by ts ￿nstitu110￿. The Charity was registered on 11 October 201)9 (No: 1120428). RECRUITMENT AND APPOINTMENT OF TRUSTEES SHARE Charity is run by Ihe trustees who determine the appointment of new trustees. There have been no new additions to the trustees during the current year. Approved by order of the board of tru8tees on 6 Decernber 2024 and signed on their behaff by: Navrup Kaur- Trust•e SHARE CHARITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHARE CHARITY I report on the accounts of the Society for the y8ar ended 31 March 2024 which are set out on pages 5 to8. Respectlve responsibilities of Irustees and 8xamlners As the charity's trustees you are responslble for the preparation of the 8ccounts 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 thè Act and in earrylng out my examination I have followed all the appliGable Diffjctions given by Ihe Charity Commission under section 14515)Ib) of the Act. Independent examlnerfs statement I have completed my examination. l ¢onfimi that no matèrial m8tter8 have comé to my attenllon in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the chadty as requlred by sèction 130 of the Act: or 2. the accounls do not accord with those records; or 3. the account8 do not comply wilh the applicable requirements concernin9 the form and content of accounts Set out in the Charities (Accounls and Reports) Regulations 2008 other than any requiremont that the accounts give a 'true and fair VI￿ which is not a matter con8ider8d as part of an independent examination I have no concerns and have come across no other matters in connection with the examination towhich attention should be drawn in this report to enable a proper understanding of the accounts lo be reached. GRCOXBAFCA For and on behalf of Dafferns LLP Chartered Accountants, One Eastwood, Harry Weston Road, Binley Busine88 Park, Coventry, CV3 2UB Date.. 8 Decernber 2024 SHARE CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Unrestricted funds Income from: Donations, Fund Ralsing & Membership Fee 67,543 116,803 Total Income 87,543 Expendlturo on: Purchases Movernent in cloalng stock Advwtising and PR Accounts and Independent •xaminatlon fee Bank charges Other coslB Insuranc8 IT So￿are and Consumables Recording costs and app developmenl ststionery and printing Telephone and internet Donations HR Costs Travel 350 15,000) S,939 4.365 104 3,529 114 2,784 17,242 4,887 8.441 6,293 317 2,834 17 2,024 17,666 20,665 45,186 1,823 2,995 1,644 Total oxpendltura 105 N•t Incomo1(•xpendlturol 28,934 11,183 Fund balance at 1 April 2023 154 Fund balance at 31 March 2024 The notes on pages 7 to 8 form part of these financial statements SHARE CHARITY BALANCE SHEEf AS AT 31 MARCH 2024 Notes 2024 2023 Flxed Assets Heritage assets Investments 6,000 Current assets Stocks Bank and cash 5.000 669 84,669 108,014 Credltors: amounts falllng due wllhln one year Ngt current as8•ts Net asset3 Re8orve8 General fund - Unreslricted Th8 financial statements vRre approved by the Board of Trustee$ on 6 December 2024 and YKre signed on its behalf by: Navrup Kaur- Trustee The notes on pages 7 to 8 form part of these financial ststements. SHARE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1. Accounting policie9 Basls of preparing the financial statements SHARE Charity is an unincoiporated entity. The operational address is gNen in the charlly infomalion on page 1 of these financial stalements. The nalure of the charily's operations and prlncipal activiti8s are stated on page 2. The charity constitute5 a public benefit entity as defined by FRS 102, The financial statements have been prepared in accordance wrth Accounting and Reporting by Charfties.. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the LIK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS102), the Charilies 2011, and UK Generalty Accepted Practice. The financlal gtatemants have bean prepar•d lo give a 'lrue and falrf view and have departed from the Charities (Accounts and Reports) Regulalions 2008 only to th6 exlent required to provide a'lrue and fair vlew,. 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 Charilies: Statement of R8commended Practice effective from 1 April 2005 which has since been withdrawn. The presentalion currency of the financial stst8ments and functional currency of the charty18 the Pound Sterling (£) rounded to the nearest £1. The significant accounling policies applied in the preparation of these financlal statemenls are sel out below. These policies hav8 been consistently applied to all years presenled unl8S8 olherwise slated. Income All income 18 recognised in the Statement of Financial Activities when Ihe charity has entitlement to the funds. it is probable that Ihe income will be received, and the amount can be measured reliably. Expendlture Liabllities are r8cognised a5 expendilure as soon as Iher8 Is a legal or constructive obligation committing the charity lo 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 e¢¢ruals b8sis and has been classified under headings that aggregate all cosl related to the category. Where costs cannot be directly attributed to particular headings they have been allorAted to activities on a basis consistent with the use of resources Flnanclal Instruments Basis financial instruments In debtor8 and credilors with na stated interest rate, and r￿e1vable or payable within one yaar are recorded at transa¢lion prfce. Any losses arislng from impairmenl are recognised in the income statement in other administrative expenses. Taxation The charity is exempt from tax on its charitable activities. Heritage assets This relates to Sikh aTmoury held at the National Sikh Heritage and Holocaust Museum which has been measured al cost. Stock stock is valued at the lower of cost and net realisable value. Fund accounting All the charity's funds are unrestrKted. SHARE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Icontlnued) l. Relat•d party tran*actlon8 and Trustees, ramun•ratlon and b•n•flts Trustees received no remuneration or other beneffts in both the current and prior financlal year. Paymènts totaling £7,52512023.' £f3.925) were made to TEKS Ltd for app developmènt. The trustee Mr J Singh is the brother-in-law of T Slngh who is a direGtor of TEKS Ltd. At 31 March 2024 there were no amounts outstanding between the charity and TEK5 Ltd (2023: £Nil), 2. Indep•nd•nt •xamlner• romunerntlon Tha independent examlner$ remun•ratlon amounts to an Independent examination f•e of £2,500. 3. Fund• All fund8 are unrestrlcted. 4. Herltage a•8et• Cost or valuatlon: At 31 March 2023 Additions 6,000 At 31 March 2024 Depreclatlon: At 31 March 2023 Charge for the year At 31 March 2024 Net book valu•: At 31 March 2024 At 31 March 2023 Heritage assets relate to Sikh armoury held at the Natlonal Slkh Heritage and Holocaust Mu8eum.