## **COMPANY REGISTRATION NUMBER: 08002479 CHARITY REGISTRATION NUMBER: 01146568**
## **The Sant Zora Singh Lopon Charitable Trust (UK) Company Limited by Guarantee**
## **Unaudited Financial Statements**
**For the Year Ended 31[st] March 2023**
## **The Sant Zora Singh Lopon Charitable Trust (UK)**
## **Company Limited by Guarantee**
## **Financial Statements**
## **For the Year Ended 31[st] March 2023**
## **Contents**
|**Pages 1 - 6**|Trustees’ Annual Report (incorporating the Director’s Report)|
|---|---|
|**Page 7**|Independent Examiners Report to the Trustees|
|**Page 8**|Statement of Financial Activities (including Income and Expenditure Account)|
|**Page 9**|Statement of Financial Position|
|**Pages 10 - 19**|Notes to the Financial Statements|
## **The Sant Zora Singh Lopon Charitable Trust (UK) Company Limited by Guarantee**
## **Trustees’ Annual Report (incorporating the Director’s Report)**
## **For the Year Ended 31[st] March 2023**
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31[st] March 2023.
## **Reference and administrative details:**
**Registered Charity Name:** The Sant Zora Singh Lopon Charitable Trust (UK) **Charity Registration Number:** 01146568 **Company Registration Number:** 08002479 **Principal Office / Registered Office:** 95 Woden Road Park Village Wolverhampton West Midlands WV10 0BB
**The Trustees:** Dr K S Grewal Mr P S Johal Sant J Singh Lopon Mr K S Bhandal Mr B S Gill **Company Secretary:** Mr Perminder Johal **Independent Examiner:** C Millward Falcon Financial Management 2a Reflex Business Park Willenhall West Midlands WV13 1AH
1
## **The Sant Zora Singh Lopon Charitable Trust (UK)**
## **Company Limited by Guarantee**
## **Trustees’ Annual Report (incorporating the Director’s Report) For the Year Ended 31[st] March 2023**
## **Structure, governance and management**
The charity is a company limited by guarantee established by a memorandum of association on 29 April 2011.
The trustees, who are also the directors for the purpose of company law, and who served during the year, were: Sant J Singh Lopon Dr K S Grewal Mr S G Bhagirath Mr P S Johal Mr K Singh
None of the trustees have any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Objectives and activities**
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
## **Background Information**
The overall purpose of our trust is to form a supporting UK based arm of an extremely successful, highly regarded, and very well established charitable and religious organisation in Lopon, Punjab, India.
The numbered items below provide an insight of the vast nature of the organisation in India. Not only are you able to appreciate the overwhelming achievements but also admire both the history and complex corporate mechanisms installed over the decades.
There is a relentless desire to further spread the Sant Jagjit Singh Ji's divine unsurpassed teachings of God, Sikhism, bettering ourselves, and to encourage further charitable work. The incomprehensible increasing number of worldwide devotees has called for logical expansion.
## **1 - The Advancement of the Sikh Religion**
Fundamentally the trust will revolve around the teachings of Sikhism via the script of the holy bible - The Guru Granth Sahib.
The Sikh concepts are and will be preached through religious sermons conducted by His Holiness Sant Jagjit Singh Ji (currently residing on the divine Lopon throne). These are further distributed via various media application, including television, audio (CD's and tapes), publications (monthly magazines), and a dedicated web address for a worldwide congregation.
Currently the UK trust committee hold monthly Satsang’s (gatherings) where the congregation meet and listen to religious sermons. It is our intention to increase the sermons to at least one or twice every week. It must be noted when Sant Jagjit Singh Ji visit the UK, sermons are held every day
2
## **The Sant Zora Singh Lopon Charitable Trust (UK)**
## **Company Limited by Guarantee**
## **Trustees’ Annual Report (incorporating the Director’s Report) For the Year Ended 31[st] March 2023**
## **2 - The Prevention or Relief of Poverty**
The trust aim is to develop and support the on-going projects which help the poor in India and provide social assistance, encourage sustainable conservation and promote cultural activities for the longterm benefit of people regardless of their position in society. Rather than specialising in one field, it seems more appropriate to be open to any worthwhile project that relieves poverty and results in social uplifting of the people. This may be achieved through improving health services, education, housing, sanitation and water as well as conservation of the environment and cultural programmes. The trust headquarter in Lopon presently operate a 365 day, 24 hour Langer (free communal kitchen) program whereby people from all classes of society received food and drink. Food and money is donated by the fellowship devotees both foreign and local. All the preparation, cooking and the washing-up is also done by voluntary helpers. In support of the above the UK trust committee holds a Langer programme once every month. We intend to increase the frequency of this very special service.
## **3 - The Relief of Those In Need By Reason Of Youth, Age, Ill Health Disability, Or Financial Hardship Or Other Disadvantage**
The trust headquarters have helped countless poverty struck families achieve a better chance of life. The numerous strategies deployed are paying for weddings, paying off crippling debts and to provide steppingstone career opportunities. The trust intends to support this challenging mission with various fund-raising events and advertisement campaigns throughout the UK.
## **4 - Advancement of Education**
Over the decades, the trust headquarters in India have proudly established numerous education institutions in the Punjab. This remarkable achievement was initiated by the gracious work of Sant Darbara Singh (king of the holy throne) in the 1970's.
The Sant Darbara Singh College for Women (1971), Sant Darbara Singh College of Education for Women (1976) and the Sant Darbara Singh Kanya Sen. Sec. School (1982) were built with the following objectives:-
. Uplift of society through women education
. Develop the scene of duty towards less privileged members of society. Develop dignity of selfless social service.
. Check cultural and moral degradation and inculcating the habit of simple living and high thinking. Develop all facets of human personality
. Prepare efficient and enlightened teachers willing to serve the society
The Sant Darbara Singh College for Women College provides financial assistance to needy students from Student Aid Fund. This fund is supported by donations from worldwide devotees.
Recognising the importance of education, the UK committee currently hold Sunday classes to provide children with the knowledge about Sikhism. Where various religious topics are presented and discussed involving interaction between the children and the presenters. Classes include teaching various musical instruments and reciting and learning religious poems and songs. It is intended to expand these classes to the wider community once the trust is established. Programs are to include teaching Punjabi (reading and writing), teaching musical instruments, reciting the Shri Guru Granth Sahib, scheduling keep fit classes aimed at Asian females in order to promote good health. Currently the Trust is in negotiation with several educational institutions in order to kick start educational and training programs in rural parts of the Punjab in India.
3
## **The Sant Zora Singh Lopon Charitable Trust (UK)**
## **Company Limited by Guarantee**
## **Trustees’ Annual Report (incorporating the Director’s Report) For the Year Ended 31[st] March 2023**
## **5 - Promotion of Religious and Racial Harmony and Equality and Diversity**
Religious and racial harmony is promoted through sermons and preaching the script of the holy bible - The Guru Granth Sahib. Rejecting the caste system, equality of all people regardless of race, gender, creed and ethnicity is a very strong belief in Sikhism.
Sant Jagjit Singh Ji preaches the importance of equality through regular sermons. His message and divine story's has captured worldwide audiences through powerful media and internet tools. In support, the UK committee, through teamwork and generous funding, has recently donated recording equipment to enable the headquarters in India to internally record their own programs and messages that can be accessed worldwide. Sant Jagjit Singh Jee has made 2 trips to the UK this year in order to promote religion and has conducted several sermons throughout the UK, in temples and via interviews on dedicated TV channels.
## **6 - The Advancement of Health for the Public Benefit**
The healthcare in Punjab is mostly private whose doors are only open to the affluent. Inevitably, this means the health and wellbeing of millions of less privileged people becomes neglected. This in time forms a vicious circle of further poverty and unacceptable suffering. In recognition, the headquarters in Lopon have previously funded temporary eye camps to help the poor and needy. This is extremely challenging and funding is somewhat scarce at times which mean these camps are not available as often as the residing Sant's would wish for. In support, the UK committee is presently planning to promote good health through sport in the Punjab. There is a need to educate people of the health benefits provided by participating in sport. To begin with we are looking at ways in which we can improve the local sporting amenities in the Punjab. Supplying local colleges with basic sport equipment and encouragement are all on the agenda. The trust donated a chapatti making machine to the charity headquarters in India. This machine can produce up to 3000 chapattis every hour. This food donation is made to the poor and needy of the deprived parts of the Punjab and supports the community kitchen which is run on a 24 hrs basis
## **Achievements and performance**
The charity continues to support all the activities for-mentioned. With the Sant Jagjit Singh Jee making annual UK visits the charity's congregation continues to increase. This year the charity has donated over 300 blankets, including hygiene accessories. These were distributed in the Wolverhampton, London, Birmingham, Leicester, West-Bromwich and Coventry.
Having an increasing congregation, the trust purchased an additional property in order to accommodate the increase. The property has been bought through donations given by the congregation. The new premises will be used to provide homeless people food clothing and washing facilities. Further plans are to use the premises to tackle health care issues working with local doctors and health workers for the homeless.
The charity continues to support all the activities for-mentioned. With the Sant Jagjit Singh Jee making annual UK visits the charity's congregation continues to increase. This year the charity has donated over 200 blankets, including hygiene accessories. These were distributed in the Wolverhampton, and surrounding areas. Most of the building work has now been completed for the new ashram. The Trust have now almost completed the building work on the extension of the ashram building. The new extension will allow the Trust to carry out further charity work.
4
## **The Sant Zora Singh Lopon Charitable Trust (UK) Company Limited by Guarantee**
## **Trustees’ Annual Report (incorporating the Director’s Report) For the Year Ended 31[st] March 2023**
## **Achievements and performance (continued)**
This will include, inviting the homeless a place to eat, wash and be given new clothes. The extra space will also allow the trust to engage with the elderly and invite them to visit the ashram so that they can engage in activities and socialise. This will help in their mental and physical wellbeing. The Trust provided volunteers to help with getting medication to the venerable during the Covid-19 pandemic. This was received very well by the local community and their response has been over whelming. The pharmacy who the volunteers helped have pledged to help and support our charity cause in response to the volunteer work the Trust provided. The trust had members volunteering for help and support in the covid clinic, this was for the full 12 months until the clinic stopped giving vaccines. The Trust continue to work alongside Wolverhampton outreach and provide weekly food parcels for the venerable people who are homeless or of low income. The Trust have been providing essentials to a local woman’s refuse. The Trust will continue to support this cause and continue to support all causes for-mentioned. The Trust are now engaged in providing online classes for the under 4yr olds and older children on the values of Sikhism, including the history of Sikhism. The trust organised trips for the classes who take online Punjabi lessons. This was viewed as a reward for the effort the children put in to learn Punjabi, both speaking and written. The Trust through kind donations bought a minibus (16 seater). This will prove very useful for providing transport for the homeless food deliveries and planned projects with the elderly (reengage). This year the Trust held two reengage meetings with the area’s elderly residents. Where valuable time was spent with the elderly. Providing support and just to engage with them. This was taken very well by the residents, and we will continue to support this great cause.
## **Financial review**
The principal funding sources for the Trust are from donations from the congregation. These donations are made/collected at sermons and monthly direct debits made by members of the congregation.
If any extra funding is required for projects, the Trustees request a collection for such funds to the congregation and funds are collected through this means. There are no plans for the Trust to invest in any investment schemes, the Trust and the congregation feel that there should be a no risk policy.
The reserves held by the Trust are only from collections/donations made. The only funds held are for running costs for the Trusts headquarters (i.e. energy bills, repairs, etc.). As there is a collection each month, most of the costs are taken from this for the running of the Trust.
## **Plans for future periods**
The trust will continue to support the activities in India and continuation of the trusts work in India will also be followed here in the UK. There were donations made to Sangat TV in order to support the media which spreads the values of Sikhism. Currently, the trust is developing plans to donate money in order to support health clinics in India. This will include blood donation camps (to aid blood bank reserves), eye camps (provide free clinics to the poor and needy for general eye health care) and support community kitchens. Water provisions will also be supported in rural area in the Punjab. This will promote good health and local agriculture. There are also plans to donate to local UK charities where the trust will decide which particular charities need support. The trustees made a special visit to Edinburgh in Scotland on the invite of some local charities. The trust is to support these charities by donating, food, hygiene accessories and blankets.
5
##
##
##
The Sant Zora Sln
hLo
on Charitable Trust
Com
an
Limited b Guarantee
Inde
ondent Examlner's Re
ort to the Trustoes of
The Sant Zora Sln
hLo
on Charltable Trust
UK
For Ihe Year Ended 31" March 2023
I report to the trustees on my examination of the financial statements of the Sanl Zora Singh
Lopon Charitable Trust IUKI1lhe charity") for the year ended 3181 March 2023.
Responslbllltles and Ba51s If Report
The trustees are also the directors of the company for the purposes of company law and are
responsible for the preparation of the financial statements. The Injstees consider that an audit is
not required for the year under section 144121 of the Charities Act 2011 {'Ihe 2011 Acr) and that
an independent examination is needed.
Independent Examiner's Statemenl
I have cornpleted my examination. I confirm that no matters have come lo my attention in
connection with the examination that give me cause to believe..
accounting records were not kept in respect of the charity as required by section 386 of
the 2006 Act., or
2. the financlal statements do not accord to those records. or
3. the financial statements do not comply with th8 accounting requirements of section 396
of the 2006 Act other than any requirement that the accounts give a Irue and fairf view
whiGh is not a matter considered as part of an independent examination.. or
4. the financial statements have not been prepared in aceordance with the methods and
principles of the Statement of Recommended Practice for accounting and reporting by
charities applicable lo charities preparing their accounts in accordance wlh the Financial
Reporting Stsnd8rd applicable in the UK and Republi¢ of Ireland IFRS 102).
I have no concems and have come across no other matters in connection wilh the examination
lo which attention should be drawn in this report in order lo enabl8 a proper understanding of the
accounts to be reached.
22 12 2012
C. Millward.
Independent Examiner
Falcon Flnancial Management
2a Re8X Business Park
Willenhall
Wesl Midlands
WV13 1AH
## **The Sant Zora Singh Lopon Charitable Trust (UK) Company Limited by Guarantee Statement of Financial Activities (Including Income and Expenditure Account)**
## **For the Year Ended 31[st] March 2023**
|**_Notes_**
**Income and Endowments**
Donations and Legacies
**_5_**
Rental Property Income
**_6_**
**Total Income**
**Expenditure**
Expenditure on Raising Funds
Rental Property Costs
**_7_**
Expenditure on Charitable Activities
**_8,9_**
**Total Expenditure**
Net Income and Movement in Funds
**Reconciliation of Funds**
Total Funds Brought Forward
**Total Funds Carried Forward**|**2023**
Unrestricted
**Total**
Funds
**Funds**
**£**
**£**
71,522
**71,522**
39,854
**39,854**
111,376
**111,376**
17,099
**17,099**
78,214
**78,214**
95,313
**95,313**
16,063
**16,063**
544,884
**544,884**
560,947
**560,947**|2022
Total
Funds
£
57,853
56,822|
|---|---|---|
|||114,675|
|||19,644
54,619|
|||74,263|
||||
|||40,412|
|||504,472|
|||544,884|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
**The notes on pages 10 to 19 form part of these financial statements.**
8
##
##
|**Alll**|~l
11**Mlll**|**!b**||||
|---|---|---|---|---|---|
||||2m||.zm|
||**_l1Rm_**|£|£|£|_E._|
|Fixed**Aneta**||||||
|Tangible Fixed Assets|_16_||383,786||354,398|
|Investments|_18_||460,000||460,000|
||||843,786||814,398|
|Current**Assets**||||||
|Debtors|_17_|14,157||12,860||
|CashatBank and in Hand||20,462||67,242||
|||34,619||80,122||
|Creditors:||||||
|Amounts falling due within one year|_11_|40,412||46,837||
|NetCurrentAssets|||5,793||33,285|
|Total**Assetsless**CurrentLlabllitles|||837,995||847,683|
|**Creditors:**||||||
|Amounts falling due after more than one||||||
|year|_19_||277,048||302,799|
|NetAneta|||560,947||544,884|
|FundsoftheCharity||||||
|Unrestricted Funds|||560,947||544,884|
|Total**CharityFunds**|**_21_**||560,947||**544,884**|
## **The Sant Zora Singh Lopon Charitable Trust (UK) Company Limited by Guarantee Notes to the Financial Statements For the Year Ended 31[st] March 2023**
## **1. General Information**
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 95 Woden Road, Park Village, Wolverhampton, west Midlands, WV10 0BB.
## **2. Statement of Compliance**
The financial statements have been prepared in compliance with FRS 102, “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
## **3. Accounting Policies**
## **Basis of Preparation**
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **Going Concern**
There are no material uncertainties about the charity’s ability to continue.
## **Disclosure Exemptions**
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:
(a) No cash flow statement has been presented for the company.
(b) Disclosures in respect of financial instruments have not been presented.
## **Fund Accounting**
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity’s purposes.
Designated funds are unrestricted funds earmarked by the trustees for a particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
10
## **The Sant Zora Singh Lopon Charitable Trust (UK) Company Limited by Guarantee Notes to the Financial Statements For the Year Ended 31[st] March 2023**
## **3. Accounting Policies (continued)**
## **Incoming Resources**
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
- Legacy income is recognised when receipt is probable and entitlement is established.
- Income from donated goods is measured at the fair value of the goods unless this is impracticable to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
- Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
## **Resources Expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classed under headings of the statement of financial activities to which it relates:
- Expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities and the sale of donated goods.
- Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
- Expenditure on charitable activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
- Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
## **Tangible Assets**
Tangible assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
11
## **The Sant Zora Singh Lopon Charitable Trust (UK) Company Limited by Guarantee Notes to the Financial Statements For the Year Ended 31[st] March 2023**
## **3. Accounting policies (continued)**
## **Tangible Assets (continued)**
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other recognised gains and losses except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
## **Depreciation**
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - 1% straight line Motor Vehicles - 33% reducing balance Furniture & Equipment - 20% straight line
## **Investments**
Unlisted equity investments are initially recorded at cost and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
## **Investment Property**
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in income or expenditure.
If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measured on an ongoing basis.
## **Investments in Associates**
Investments in associates accounted for in accordance with the cost model are recorded at cost less accumulated impairment losses.
Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
12
## **The Sant Zora Singh Lopon Charitable Trust (UK) Company Limited by Guarantee Notes to the Financial Statements For the Year Ended 31[st] March 2023**
## **3. Accounting policies (continued)**
## **Investments in joint Ventures**
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
## **Impairment of Fixed Assets**
A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash generating unit to which the asset belongs. The cash generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
## **Government Grants**
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance related conditions on the recipient, it is recognised in income only when the performance related conditions have been met. Where grants receivable are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
13
## **The Sant Zora Singh Lopon Charitable Trust (UK) Company Limited by Guarantee Notes to the Financial Statements For the Year Ended 31[st] March 2023**
## **3. Accounting Policies (continued)**
## **Financial Instruments**
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financial transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
## **4. Limited by Guarantee**
All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.
## **5. Donations and Legacies**
|**Donations**
Donations
Charitable events
**Grants**
Government grant income
**ental Property Income**
Income from investment properties
**ental Property Costs**
Repairs and maintenance
Utilities recharged to tenants
Mortgage interest|Unrestricted
Funds
**Total**
**Funds**
Unrestricted
Funds
Total
Funds
2023
2022
£
**£**
£
£
61,524
**61,524**
45,981
45,981
9,998
**9,998**
11,872
11,872
-
-|Unrestricted
Funds
**Total**
**Funds**
Unrestricted
Funds
Total
Funds
2023
2022
£
**£**
£
£
61,524
**61,524**
45,981
45,981
9,998
**9,998**
11,872
11,872
-
-|
|---|---|---|
||71,522|**71,522**
57,853
57,853|
||Unrestricted
Funds
**Total**
**Funds**
Unrestricted
Funds
Total
Funds
2023
2022
£
**£**
£
£
39,854
**39,854**
56,822
56,822||
||Unrestricted
Funds
**Total**
**Funds**
Unrestricted
Funds
Total
Funds
2023
2022
£
**£**
£
£
3,171
**3,171**
6,130
6,130
7,222
**7,222**
9.055
9,055
6,706
**6,706**
4,459
4,459||
||17,099|**17,099**
19,644
19,644|
## **6. Rental Property Income**
## **7. Rental Property Costs**
14
## **The Sant Zora Singh Lopon Charitable Trust (UK)**
## **Company Limited by Guarantee Notes to the Financial Statements For the Year Ended 31[st] March 2023**
## **8. Expenditure on Charitable activities by Fund Type**
|Supporting Sant Zora Singh Lopon
Charitable Trust
Support costs|Unrestricted
Funds
**Total**
**Funds**
Unrestricted
Funds
Total
Funds
2023
2022
£
**£**
£
£
76,186
**76,186**
51,068
51,068
2,028
**2,028**
3,551
3,551|Unrestricted
Funds
**Total**
**Funds**
Unrestricted
Funds
Total
Funds
2023
2022
£
**£**
£
£
76,186
**76,186**
51,068
51,068
2,028
**2,028**
3,551
3,551|
|---|---|---|
||78,214|**78,214**
54,619
54,619|
## **9. Expenditure on Charitable Activities by Activity Type**
|Supporting Sant Zora Singh Lopon
Charitable Trust
Support costs|Activities
undertaken
directly
Support
Costs
**Total**
**Funds**
**2023**
Total
Funds
2022
£
£
**£**
£
76,186
-
**76,186**
51,068
-
2,028
**2,028**
3,551|Activities
undertaken
directly
Support
Costs
**Total**
**Funds**
**2023**
Total
Funds
2022
£
£
**£**
£
76,186
-
**76,186**
51,068
-
2,028
**2,028**
3,551|
|---|---|---|
||78,186
2,028|**78,214**
54,619|
## **10. Analysis of Support Costs**
|Governance costs
Independent examiners fees
**et Income**
Net income is stated after charging:
Depreciation of tangible fixed assets
**ndependent Examination Fees**
Fees payable to the independent examiner for:
Independent examination of financial statements|Supporting
Sant Zora
Singh Lopon
Charitable
Trust
£
528
1,500|**Total**
**2023**
**£**
**528**
**1,500**|**Total**
**2023**
**£**
**528**
**1,500**|**Total**
**2023**
**£**
**528**
**1,500**|Total
2022
£
358
3,193|
|---|---|---|---|---|---|
||2,028|||**2,028**|3,551|
||||2023
£
6,154||2022
£
5,474|
||||2023
£
1,500||2022
£
3,193|
## **11. Net Income**
## **12. Independent Examination Fees**
15
## **The Sant Zora Singh Lopon Charitable Trust (UK) Company Limited by Guarantee Notes to the Financial Statements For the Year Ended 31[st] March 2023**
## **13. Staff Costs**
The average head count of employees during the year was 5 (2022: 5). The average number of full-time equivalent employees during the year is analysed as follows:
|Number of staff - trustees|**2023**
2022
**No.**
No
**5**
5|
|---|---|
The total staff costs and employee benefits for the reporting period are analysed as follows:
|Number of staff - trustees|**2023**
2022
**£**
£
**nil**
nil|
|---|---|
No employee received employee benefits of more than £60,000 during the tear (2022 – nil).
## **14. Trustee Remuneration and Expenses**
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
No charity expenses have been incurred by the trustees.
## **15. Tangible Fixed assets**
|**Cost**
At 1stApril 2022
Additions
**At 31st March 2023**
**Depreciation**
At 1stApril 2022
Charge for the year
**At 31st March 2023**
**Carrying amount**
**At 31st March 2023**
At 31stMarch 2022|Land and
Motor
Furniture &
buildings
Vehicles
Equipment
**Total**
£
£
£
**£**
358,094
5,700
14,137
**377,931**
30,092
-
5,452
**35,544**|
|---|---|
||388,186
5,700
19,589
**413,475**|
||12,007
1,881
9,645
**23,533**
3,580
1,260
1,314
**6,154 **|
||15,587
3,141
10,959
**29,687**|
||372,599
2,559
8,630
**383,788**|
||346,087
3,819
4,492
**354,398**|
16
## **The Sant Zora Singh Lopon Charitable Trust (UK)**
## **Company Limited by Guarantee Notes to the Financial Statements For the Year Ended 31[st] March 2023**
## **16. Investments**
|**Cost or valuation**
**At 1st April 2022 and 31 March 2023**
Impairment
**At 1st April 2022 and 31st March 2023**
Carrying amount
**At 1st April 2022 and 31st March 2023**|**Investment**
**Properties**
**£**
**460,000**|
|---|---|
||**-**|
||**460,000**|
All investments shown above are held at valuation.
## **Investment Properties**
The trustees have valued the investment property at £460,000 on 31[st] March 2020 based on a review of the local property market at that date.
## **17. Debtors**
|Prepayments and accrued income
**18. Creditors: amounts falling due within one year**
Bank loans and overdrafts
Payments received on account
Accruals and deferred income
Rental deposits
**19. Creditors: amounts falling due after more than one year**
Bank loans and overdrafts||**2023**
2022
**£**
£
**14,157**
12,880|**2023**
2022
**£**
£
**14,157**
12,880|
|---|---|---|---|
|||||
|||**2023**
2022
**£**
£
**26,875**
28,000
**-**
4,898
**9,037**
9,439
**4,500**
4,500||
|||||
||||**40,412**
46,837|
|||**2023**
2022
**£**
£
**277,048**
302,799||
Bank loans and overdrafts are secured on freehold property.
17
## **The Sant Zora Singh Lopon Charitable Trust (UK) Company Limited by Guarantee Notes to the Financial Statements For the Year Ended 31[st] March 2023**
## **20. Government Grants**
The amounts recognised in the financial statements for government grants are as follows
|Government grants income|**2023**
2022
**£**
£
**-**
-|
|---|---|
|||
## **21. Analysis of Charitable Funds**
## **Unrestricted Funds**
|**nrestricted Funds**||
|---|---|
|General funds
General funds|At
1stApril
**At**
**31st March**
2022
Income
Expenditure
**2023**
£
£
£
**£**|
||544,884
111,376
(95,313)
**560,947**|
||At
1stApril
At
31stMarch
2021
Income
Expenditure
2022
£
£
£
£|
||504,472
114,675
(74,263)
544,884|
## **22. Analysis of Net Assets Between Funds**
|Tangible fixed assets
Investments
Current assets
Creditors due within 1 year
Creditors due after more than 1 year
**Net assets**
Tangible fixed assets
Investments
Current assets
Creditors due within 1 year
Creditors due after more than 1 year
**Net assets**|Unrestricted
Funds
**Total**
**Funds**
2023
**2023**
**£**
**£**
383,788
**383,788**
460,000
**460,000**
34,619
**34,619**
(40,412)
**(40,412)**
(277,048)
**(277,048)**|
|---|---|
||560,947
**560,947**|
||Unrestricted
Funds
Total
Funds
2022
2022
£
£
354,398
354,398
460,000
460,000
80,122
80,122
(46,837)
(46,837)
(302,799)
(302,799)|
||544,884
544,884|
18
## **The Sant Zora Singh Lopon Charitable Trust (UK) Company Limited by Guarantee Notes to the Financial Statements For the Year Ended 31[st] March 2023**
## **23. Related Parties**
During the year the trustees made donations to the charity without conditions totalling £8,527 (2022 - £12,484)
There were no other related party transactions requiring disclosure.
19