## **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** |**Income and endowments**
**from:**
**Notes**
Donations and legacies
3
Other trading activities
4
**Total**
**Expenditure on:**
*Other
5
**Total**
Net gains on investments
**Net income**
6
**Net income before other**
**gains/(losses)**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought
forward.
**Total funds carried forward.**|**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** /8 ## **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** |**Income and**
**endowments from:**
HMRC Charities
Other Income
**Total**
**Expenditure on:**
Other
**Total**
**Net income**
**Net income before other gains/(losses)**
**Net**
**movement in**
**funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
3 **Income from donations and legacies**
Donations
Gift aid tax recovered
4 **Income from other trading activities**||**Unrestricted**
**funds**
**2022**
**£**
69,472
13,432
160
83,064
41,457
41,457
41,607
41,607
41,607
48,371
89,978
**Unrestricted**
**Total**
**2023**
**£**
**£**
71,827
71,827
8,233
8,233
80,060
80060
**Unrestricted**
**Total**
**2023**
**£**
**£**
-
-
810
810
810
810|**Unrestricted**
**funds**
**2022**
**£**
69,472|**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|**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|**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** |Depreciation of Computer
Equipment R & M
Stationery and printing
General Expense
Bank Charge - stopped cheque
Food, refreshments and sundry
Others
Telephone, fax, and broadband
Legal
and
professional
costs
Service Contract
Other legal and professional
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net income**
**Net income before other**
**gains/(losses)**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
Kirtan
Akhand Paaht Behta
Rations
Sehaj Paaht||381
558
82
-
429
-
4,133
729
8,403|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