2023-03-31-accounts - Baba Budha Ji Educational Trust

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Baba Budha Ji Educational Trust

Charity No. 1138700

Trustees' Report and Unaudited Accounts

31 March 2023

Baba Budha Ji Educational Trust Contents

	Pages
Trustees' Annual Report	2
Independent Examiner's Report	3
Statement of Financial Activities	4
Balance Sheet	5
Notes to the Accounts	6 to 10
Statement of Cash flows	11
Detailed Statement of Financial Activities	12 to 13

Page 1 of 13

Baba Budha Ji Educational Trust Trustees Annual Report

The Trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1138700

Principal Office

23 Royce Road Peterborough PE1 5YB

Trustees

The following Trustees served during the year:

Hardev Singh Surbajit Singh Lakhbir Singh Gurdev Singh

Accountants

KX Associates

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The Trustees are responsible for keeping proper accounting records that 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 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

S Singh Recoverable Signature 16/05/2024

X S Singh S Singh 16/05/2024 Signed by: Hardev Singh

Page 2 of 13

Baba Budha Ji Educational Trust Independent Examiners Report

Independent Examiner's Report to the trustees of Baba Budha Ji Educational Trust

I report to the trustees on my examination of the accounts of Baba Budha Ji Educational Trust for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes.

Responsibilities and basis of report

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'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 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 can 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:

the 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 did 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 to this report to enable a proper understanding of the accounts to be reached.

Recoverable Signature

X S Singh

S Singh

Signed by: Hardev Singh

S. Singh 16/05/2024

Page 3 of 13

Baba Budha Ji Educational Trust Statement of Financial Activities for the year ended 31 March 2023

Unrestricted funds 2023 £ 80,061 810	Total funds 2023 £ 80,061 810	Total funds 2022 £ 82,904 160
80,871 57,677	80,871 57,677	83,064 41,457
57,677 -	57,677 -	41,457 -
23,194	23,194	41,607
23,194	23,194	41,607
23,194 89,978	23,194 89,978	41,607 48,371
113,172	113,172	89,798

Page 4 of 13

Baba Budha Ji Educational Trust Balance Sheet

on 31 March 2023

Charity No. 1138700 Fixed assets Tangible assets 8 Current assets Debtors 9 Other Debtor Cash at bank and in hand Creditors:Amount falling due within one year 10 Net current assets Total assets fewer current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 11 Unrestricted funds General funds 11 Total funds	2023 £ 7,035	2022 £ 5,977
	7,035	5,977 3,044 88,662
	3,044 22,040 88,758
	113,842 (7,705)	91,706 (7,705)
	106,137 113,172	84,001 89,978
	113,172	89,978
	113,172	89,978
	113,172	89,978
	113,172	89,978
	113,172	~~89978~~
		~~, ~~

Approved by the trustees on 16/05/2024

And signed on their behalf by:

S Singh

Recoverable Signature

X S Singh S. Singh Signed by: Hardev Singh

16/05/2024

Page 5 of 13

Baba Budha Ji Educational Trust Notes to the Accounts

for the year ended 31 March 2023

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.

Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.

Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help the value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 6 of 13

Baba Budha Ji Educational Trust Notes to the Accounts

Expenditure

Recognition of Expenditure is recognized on an accrual’s basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.

Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.

Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant and machinery 25% Reducing balance Computer Equipment 33.3% Straight line

Trade and other debtors

Trade and other debtors are recognized at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents.

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognized where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognized at their settlement amount after allowing for any trade discounts due.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognized within incoming resources and expenditure at an estimate of the value to the charity.

Page 7 of 13

Baba Budha Ji Educational Trust

Notes to the Accounts

2 Statement of Financial Activities - prior year

Unrestricted funds 2022 £ 69,472	Unrestricted funds 2022 £ 69,472	Total funds 2022 £ 69,472 13,432 160 83,064 41,457 41,457 41,607 41,607 41,607 48,371 89,978 Total 2022 £ 69,472 13,432 82,904 Total 2022 £ - 160 160
13,432
160

83,064		83,064








	80060
	Total 2023 £ - 810
	810	160

Grants received

Other Income

Page 8 of 13

Baba Budha Ji Educational Trust

Notes to the Accounts

5 Other expenditure

Donations Kirtan Akhand Paaht Behta Rations Sehaj Paaht Employee costs Premises costs Amortization, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 6 Net income before transfers This is stated after charging: Depreciation of owned fixed assets 7 Staff costs Salaries and wages No employee received emoluments more than £60,000. 8 Tangible fixed assets Cost or revaluation At 1 April 2022 Addition At 31 March 2023 Depreciation and impairment At 1 April 2022 Depreciation charge for the year At 31 March 2023 Net Book Value At 31 March 2023 At 31 March 2022		Unrestricted Funds £ 1,001 4273 3605 4012 175 - 35,547 2,472 5,931 660 57,677 2023 £ 2,472 - - Plant and machinery £ 20,247 2,387 22,634 14,270 2,091 16,361 6,273 5,977	Unrestricted Funds £ 1,001 4273 3605 4012 175 - 35,547 2,472 5,931 660 57,677 2023 £ 2,472 - - Plant and machinery £ 20,247 2,387 22,634 14,270 2,091 16,361 6,273 5,977	Total 2023 £ 1,001 4273 3605 4012 175 - 35,547 2,472 5,931 660 57,677 Computer Equipment £ 1,360 1,143 2,503 1,360 381	Total 2022 £ - 1,420 1,889 4,094 170 9,203 21,344 2,447 890 -
					41,457
					2022 £ 2,447 9,203
					9,203
					Total £ 21,607 3,530 25,137 15,630 2,277 18,102 7,035 5,977
				1,741 762 -
				-

Page 9 of 13

Baba Budha Ji Educational Trust Notes to the Accounts 9 Debtors Prepayments and accrued income Other Debtors 10 Creditors: amounts falling due within one year Accruals and deferred income 11 Movement in funds Unrestricted funds: General funds Total funds 12 Analysis of net assets between funds Fixed assets Net current assets 13 Reconciliation of net debt Cash and cash equivalents Net debt	At 1 April 2023 89,978 89,978

Page 10 of 13

Baba Budha Ji Educational Trust Statement of Cash flows

for the year ended 31 March 2023

Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Increase in trade and other receivables Increase in trade and other payables Net cash provided by operating activities Net cash used in investing activities Net cash from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances	2023 £ 23,194 2,472 - 25,666 (3530) - 22,136 88,662 110,798 110,798 110,798	2022 £ 41,607 2,447 -
		44,054
		(350)
		-
		43,704 44,958
		88,662
		88,662
		88,662

Page 11 of 13

Baba Budha Ji Educational Trust Statement of Cash flows

for the year ended 31 March 2023

Income and endowments from: Donations and legacies Donations Gift aid tax recovered Other trading activities Grants Other Income Total income and endowments Expenditure on: Other expenditure Donations Employee costs Teachers and priest expenses Temporary staff Premises costs Light, heat and power Premises cleaning Premises insurance Giyani ji Seva Indian Jatha Nishaan Sahib Ramaala/Patka Others General administrative costs, including depreciation and amortization	Unrestricte d funds 2023 71,828 8,233 80,061 - 810 80,871 1001 1001 - - - 80 10,46 2,367 1,609 11,953 5,500 245 100 2,509 3,5548 2,091	Total funds 2023 71,828 8,233 80,061 - 810 80,871 1001 1001 - - - 80 10,46 2,36 1,609 11,953 5,500 245 100 2,509 3,5548 2,091	Total funds 2022 69,472 13,432
			82,904
			160
			83,064
			-
			-
			9,203
			9,203
			74 11,22 1,28 - - - - - -
			13,261
			1,993

Page 11 of 13

Baba Budha Ji Educational Trust Detailed Statement of Financial Activities

for the year ended 31 March 2023

381 558 82 - 429 - 4,133 729 8,403	381 558 82 - 429 - 4,133 729	381 558 82 - 429 - 4,133 729
	8,403


360	360		~~- -~~

300 660	300 660


4,273 3,605 4,012 175

57,677 57,677 23,194 23,194 - 23,194 89,978 113,172		57,677 57,677 23,194 23,194 - 23,194 89,798 113,172
			57,677
			57,677
			41,607
			41,607 -
			41,607
			48,371
			89,978

Page 12 of 13