COMPANY REGISTRATION NUMBER: 08002479 CHARITY REGISTRATION NUM8ER: 01146568 The Sant Zora Sln hLo on Charltable Trust UK Com an Limited b Guarantee Unaudited Finan tstem nt For the Year Ended 31al March 2024 'AD)55G61• 3111212024 COMPANIES HOUSE A7
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The Sant Zora Sln hLo on Charitable Trust UK Com an Limited b Guarantee Financlal Statements For the Year Ended 111 March 2024 Contents PAg•s 1- 8 Trustees, Annual Report (incorporating the Directorfs Report) Pag• 7 Independent Examiners Report to the Trustees Pago 8 Statement of Financial Activities (including Income and Expenditure Account) Page 9 Statement of Financial Position Paoes 10 . 19 Notes to the Financial Slatements
The Sant Zora Sln hLo on Charllable Trust UK Com an Limited b Guarantee Trustees, Annual Re ort Incor oratin the Directorfs Re ort For the Year Ended 3111 March 2024 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial etatemente of tho charity for thc ycar cnded 3161 March 2024. Reference and administratlve detalls: Regist•red Charity Name: The Sant Zora Singh Lopon Charitable Trust (UK) Charity Reglstralion Number: 01146568 C¢xnpany Reglstration Numb•r: 08002479 Prlncipal (Xlice l Registered Office: 95 Woden Road Park Village Wolverhampton West Midlands WV10 OBB The Trustses: Dr K S Grewal Mr P S Johal Sant J Singh Lopon Mr K S Bhandal MrBSGill Company Secretary: Mr Perminder Johal Independent Examiner: Anand Associates 106 Walhouse Road Walsall West Midlands WS128E
The Sant Zora Sln Com hLo on Charltable Trust UK an Limited b Guarants• Trustees, Annual Re For the Year Ended 3111 March 2024 ort incor oratin the Director's Re ort Structure, governance and management The charity is a Gompany limited by guarantee established by a momorandum of aGSOClation on 20 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 MrBSGill Mr P S Johal Mr K S Bhandal None of the trustees have any beneficial interest in the company. All of the Irustees are members of the company and guarantee to contribute £10 in the evenl 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, ObJectlv•s and actlviti•s 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 fvture activities. Background Infomiatlon The overall purpose of our trust is to form a supporting UK based arm of an extremely successful, highly warded, and very well eslablished charitable and religious organisation in Lopon, Punjab, India. The numbered items below provide an insight of Ihe vast nature of the organisation in India. Not only are you able to appreciate the ovehelMjn9 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 tsachings of God, Sikhism, bettering ourselves, and to encourage further charitable work. The incomprehensible in¢asIng number of wortdwide devotees has called for logical expansion. 1- The Advancement ol the Slkh Rellglon Fundamenialty the trust will revofve around the leachings of Sikhism via Ihe script of the holy bible - The Guru Granth Sahib. The Sikh concepts are and will be preached through reSioious semons conducted by His Holiness Sant Jagjit Singh Ji (currently residing on Ihe 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 Jagiit Singh Ji visit the UK. sermons are held every day
The Sant Zora Sfn Com hLo on Charltable Trust UK an Limited b Guarantee Trustees. Annual Re ort incor oratin the Director's R• ort For the Year Ended 3131 March 2024 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 long- tem 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 povety and results in social uplifting of the people. This may be achieved through improving health services, education, housing, sanitation and water as well as conseNation of the environment and cultural programmes. The trust headquarter in Lopon presently operate a 365 day. 24 hour Langer (free communal kilchen) program whereby people from all classes of society received food and drink. Food and money is donated by the fellowship devotees bolh 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 - Tho Rellef ol Those In Need By Reason Olyouth. Age,111 Health Dlsability, Or Flnanclal Hardshlp Or Other Dlsadvantage The trust headquarters have helped countless povety 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 rnission with various fund-raising events and advertisement campaigns throughout the UK. 4 - Advancement of Education Over the decades, the trust headquarters in India have proudty established numerous education institutions in the Punjab. This remarkable achievemenl 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. t)evelop all facets of human personality Prepare efficient and enlightened teachers willing to serve the society The Sant Oartjara 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 inslitutions in order to kick start educational and training programs in rural parts of the Punjab in India.
The Sant Zora Sin hLo on Charitable Trust UK Com an Llmited b Guarantse Trustees. Annual Re ort Incor oratin the Dlrector's Re ort For the Year Ended 314 March 2024 5 - Promotion of Religious and Raclal Harmony and Equality and Diversity Religiou• and racial harmony ia promotcd through sormonvu ond prcaching thc acript of thc 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 inlernalty record Iheir own programs and messages that can be accessed worldwide. Sani 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 Publlc Benefit The heafthcare in Punjab is mostly private whose doors are only open to the affluent. Inevitably, this means the health and wellbeing of mE11ions of less privileged people becomes neglected. This in time fonns a vicious circle of further poverty and unacceptable suffering. In recognilion, the headquarters in Lopon have previously fvnded temporary eye camps to help the poor and needy. This is extremely challenging and funding is sOmeat scarce at times which mean these camps are not available as often as the residing Sanvs 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 locaf sporting amenilies in the Punjab. Supplying local colleges port equipment and encouraoement ore all on tho agcnda. Tho tru- t donatod o chapatti making machine to the charity headquarters in India. This machine can produco 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 Achlevements and perforrnance The charity continues to support all the activities for-mentioned. With the Sant Jagiit Singh Jee making annual UK visits the charitys congregation continues to increase. This year the charfty has donated over 300 blankets, including hygiene accessories. These were distributed in the Wolverhampton, London, Birmingham, Leicester, We8t-Bromwich and Coventry. Having an increasing congregation, the trust purchased an additional property in order to accommodate the increase. The propety has been bought through donations given by the congregation. The new premises will be used to provide homeless people food clothing and washin9 facilities. Further plans are to use the premises to tackle health care issues working with local doctor3 and health workers for the homeless. The charity continues to support all the aclivilies for-menlioned. With the Sanl Jagiit Singh Jee making annual UK visits the charity's congregation continues lo increase. This year the charity has donated ovei 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 compleled the building work on Ihe extension of the ashram building. The new extension will allow the Trust to carry out further charity work.
The Sant Zora in hLo on Charitable Trust UK Com an Llmlted b Guarantee Trustees. Annual Re ort Incor oratin the Dlr¢ctoY's Re For the Year Ended 311 March 2024 Aohiovomonts and pertormanc• {contlnuad) 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 ceiVed very well by the local community and their response has be&n over whelming. The pharmacy who the volunteers helped have pledged to help and support our charity cause in R5ponse to Ihe vofunteer work the frust provbded. The trust had members volunteering for help and support in the covid clinic. this was for Ihe full 12 months until the clinic stopped giving vaccines. The Trusl continue to work alongside Wofverhampton 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 Trusl 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 Irust organised trips for the classes who take online Punjabi lessons. This was viewed as a reward forthe 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. Flnanclal r•vl•w The principal funding sources for Ihe Trust are from donations from the congregation. These donations are madelcollected 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 Ihrough 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 Twst are only from collectionsldonations 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 perlods The trust will continue to support the activilies in India and continualion 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 donale money in order lo 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 agricufture. 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.
.The Sant Zora'sin Com hLo on Charitable Trust UK an Llrnited b Guarantee Trustees. Annual Re ort incor oratln the Dlrector's Re For the Year Ended 3111 March 2024 Plans for future perlods (contlnued) Currently collections are being made to support this good cause. This Trust will continue to look for new projects that require support. Either through donations or support. The extension work to the Ashram is now almost complete this will provide a welcome extra space to carry out the charity projects. In September the covid clinic will restart to administer vaccines ft)r the over 50's as a booster. The Trust will volunteer to help and support this great cause. Finally, all the work carried out at the Trust is purely on a volunteering basics. No one is paid. A lot of people donate their time and money to support these causes. Small company provlslons This report has been prepared in accordance with Ihe provisions applicable to companies entitled to the small company's exemption. The trustees, annual report was approved on board of trustees by: 95 and signed on behalf of the Dr K S Grewal Trustee
The Sant Zora Sln hLo on Charitable Trust UK Com Llmited b Guarante• Inde endent Examiner's Re ort to the Trustees ot Th? Sant Zora Sin hLo on Charltable Trust UK For the Year Ended 3111 March 2024 I repDrt lo the trustees on my examination of the financial statements of the Sant Zora Singh Lopon ChaTitable Trust (UK) ('%he charity.) for the year ended 3181 March 2024. Responsibilities and Basis il 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 trustees consider that an audit is not required for the year under section 144{2) of the Charities Act 2011 {'the 2011 ACV) and that an independent examination is needed. Independent Examiner's Statement I have completed my examination. I confimi that no matters have come to my attention in onnection 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 financial statements do not accord to those records,. or 3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fairf, view which is not a matter considered as part of an independent examination.. or 4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102>. I have no concerns and have come across no other matters in connection with the examination to which attention should be rjrawn in this report in order to enable a proper understanding-of.the accounts to be reached. L8.11.LLtr Anand Associates Independent Examiner 106 Walhouse Road West Midlands WS12BE
The S nt Zora Com fn ar ble Trust an Llmlted b Guarantee Statement of Financlal Activities Includin Income and Ex endlture Account For the Year Ended 3121 March 2024 2024 2023 Total Funds Unrestricted Funds Total Funds Not•s Ineome and Endowments Donations and Legacies Rental Property Income 76,153 45,942 76,153 45,942 71,522 39,854 Total Income 122,095 122,095 111,376 Expenditur• Expenditure on Raising Funds Rental Propety Costs Expenditure on Charitable Activities 23,403 98,732 23,403 98,732 17,099 78,214 Total Exp•ndltur• 122,135 122,135 95,313 Net Income l (Loss) and Movement in Funds (40) (40) 16,063 Reeonciliation of Funds Total Funds Brought Forward 560,947 560,947 544,884 560,907 660,907 560,947 Total Funds Carried Forward The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. Th• not•s on pages 10 to 19 forni part of th•s• flnancial stat•m•nts.
The Sant Zora Sin hLo on haritable Tru Com an Limited b Guarantee Statement of Financial Position As at 31g March 2024 2024 2023 Fixed Assets Tangible Fixed Assets Investments 15 16 377,446 460,000 837,446 383.788 460,000 843.788 Current Assets Debtors Cash at Bank and in Hand 17 16.251 14.475 30.726 14.157 20.462 34,619 Credltors: Amounts falling due within one year 18 54,654 40,412 Net Current Assets Total Assets less Current LlabS1iti8s 23,928 813.518 5,793 837.995 Creditors: Amounts talling due after more than one year 19 252,611 277,048 Net Assets 560,907 560,947 Funds of the Charlty Unreslricted Funds 560.907 560,947 Total Charlty Funds 21 560,907 560,947 For the year ending 31 $1 March 2024 the charity was entitled to exemption from audit under section 477 of Ihe Companies Act 2006 relaling to small companies. The membets hava not required the company to oblain an audit of its financial staternents for the year ended 3111 March 2024 in accordance with section 476 of the Companies Acl 2006. The directors acknowledge their responsibilities tor complying with the requirements ol the Act with respect lo accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subjecl lo Ihe small companies, regime. These financial stalemenls were approved by the board of trustees and authorised for issue on 2fr/11 IJ and are signed on behalf ot the board by: Dr K S Grewal (Truslee) The notes on pages 10 to 19 form part ol the8e linanclal stal•ment&
The Sant Zora Sln hLo on Charitsblè Trust UK Corn an Llmited b Guarantee Notes to the Financial Statements For the Y•ar Ended 311 March 2024 1. General Infomiation The charity Is a public benefit entity and a private company limlted by guarantee, registered In England and Wales and a registered charity in England and Wales. The address of the registered office is 9S Woden Road, Park Village. Wolverhampton, west Midlands. WV10 OBB. 2. 8tat•m•nt ol Compllance The financlal statements have been prepad in compliance with FRS 102, "The Financial Reporting Standard applicable in the UK and Republic of Ireland. the Statement of Recornmended Praclice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {Charits'es SORP {FRS 102)) and the Companles Act 2006. 3. Accounting Pollal•s Basis of Pr•paratlon The financlal statements have been prepared on the historical cost basis, as modified by the revaluation of certaln flnanclal assets and liablllti8s and investment properties measured at lalr value through income or expenditure. The financlal ststements are prepared in steding. whlch is the functional currency of the entity. Golng Con¢•rn There are no material uncertainties about the charity's ability to continue. Dl¥olosur• Ex•mptions The entity satisfies the criteria ol being a qualifying entity as defined in FRS 102. As such. advantage has been tsken of the following disclosure exemptions available under paragraph 1.12 ofFRS 102.. (a) No cash flow statement has been presented for the cy)mpany. (b) Disclosures in respect of financial instruments have not been pres8nted. Fund Agoountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestrlcted funds earmarked by the trustees for a partlcular future project or commitment. Restricted funds are subjected to restrictions on thelr expenditure declared by the donor or through the terms of an appeal, and fall into one of trwo sub-classes: restricted income funds or endowment funds. io
The Sant Zora s.fn hLo on Charltable Trust UK Com an Limlted b Guarantee Notes to the Flnancial Ststsments For th• Year Ended 3111 March 2024 3. A¢¢ounting Policies (continued) Inoomlng R•sour¢•s All incoming resources are included in the statement of financial activf(ies when entitlement has passed to the charity.. it is probable that the economlc benerits associated wlth the transackn'on 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 urt.re¢eipt is PYDbable 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 reliabty, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and sep4ices 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 conlracls for the supply of servlces is recognised with the delivery of the contracted serrfice. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspenL in lch case it may be regarded as restricted. R•sour¢•s Exp•nd•d Expenditure is recognised on an accruals basis as a liability Is incurred. Expenditure includ88 any VAT which cannot be lully recovered, and is classed under headings of the statement of financial activities to which it relates; Expendrfure on raising funds includes the cosls of all fundraislng actlvltles, events, non- charitable trading aclivilies and the sale of donated goods. Expenditure on charitable activilies includes all costs incurred by a Charlty In undertaking activities that further ils charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charilable activits'es. Expenditure on charilable activities thal further ils charitable aims for the benefit of its beneficiaries, including Ihose support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expendilure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categoriés reflecting the use of the resource. Direct StS attributable to a single activity are allocated directly to that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Tangibl• 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 Sfn hLo on Charltable Trust UK Com an Llmited b Guarantee Notes to the Financial Statements For the Y•ar Ended 31At March 2024 3. Accounting pollcies (Continued) Tangibl• As$•ts {¢ontlnued) An increase in the carrying amount of an asset as a sU7t of a revaluation. is recognised in other recognised gains and losses, unless it verse$ a charge for impairment that has previously been recognised as expenditure within the statement of financial activilies. A decrease in the carrying amount of an asset as a result of rev81uation is recognised in olher recognised gains and losses expt 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. D•pr•olatlon Depreciation is calculated so as lo write off the cost or valuatlon of an asset. less its residual value, over the useful economic life of that asset as follows.. Freehold property Motor Vehicles Furniture & Equipment 1% straight line 33% reducing balance 20Yo Straight Ilne Inv•stm•nts Unlisted equity investments aré initially recorded at cost and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impaiment. 'Listed investments are Measure ai faiT Iiahje'with changes in fair value being recognised in income or expenditurE+. Inv•stm•nl Pr•p•rty Investmenl pioperty is initially recorded at cost, which includes purchase price and any directly 8ttributabl8 expenditure. Investment propety is revalued to tts falr value at each reporting date and any changes fft 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 il is expected that fair value will be reliably measured on an ongoing basis. Inv•stm•nts In Assoolat•s Inve51ments in asSDciat25 accounled for in accoTdance wth the cost model are recorded at cost les5 accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are infrtially recorded at the transaction price. At each reporting date. the investments are measured at fair value. with changes in fair value tsken through income or expenditure. Where it is impracticable to measure fair value reliabty without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income wtthout regard to whether the distributions are from auMulated profits of the associate arising before or after the date of acquisition. 12
The Sant Zora Sfn Com on Charitable Trust UK an Llmlted b Guarant•e Notes to the Financial Statsments For the Year Endod 3111 March 2024 3. A¢¢ounting policies (eontinued) Investments In joint Ventures Investments in Jolntly controlled entlties 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 li 15'tlnprdcIKable to measure farvalue reliabty withoul undue cost or effort, the cost model will be adoptea. Dmdends and other dSstribulion5 received from Ihe inveslment are recognised as Income Ihout regard to whether Ihe dislribulions are from accumulated profits of the joint venture arising before or after the date of acquisition. Impalmitnt of Flx•d Ass•ts A revlew of indicators of impalrm8nt Is carried out at each report(ng date, with Ihe reo)verable 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 est'imate the recoverable amount of an Individual asset, an estimate Is made of the recoverable amount of the cash generating unit to whlch the asset belongs. The cash generating unit is the smallest identifiable gTOUP of 2ssets1hat includes the'asset an(f generdtes cash inlfows Ihal are largely independent of the cash inflows from olher assets or groups of assets. For impairnient teslino of goodwill. the goodwill acquired in a business combination is. from the acquisition date, allocated lo each of Ihe cash oeneraling units that are expected to benefit from the synergies of the combinatlon. irrespective of whelher other assets or Ilabilities of the charity are assigned to those units. Gov•rnm•nt Grants Government grants are recognised at the falr 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 speclfied future performance related conditions on the recipient. it is recognised in income when the grant proceeds are ceiVed or receivable. Where the grant does impose specified future performance related conditions on the recipient, it Is recognlsed in income onty 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 ora Sln hLo on Charltable Trust UK Com an Llmited b Guarantee Notes to the Financial Statements For the Year Ended 3111 March 2024 3. Aocounting Policies (¢ontinued) Finanaial 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 induding 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 Tr27kel rats 01 inteTest foT a similar debl instrument. Curtenl assets and currenl Siabilities are subsequentty measured at the cash or other consideration expected to be paid or received and not discounted. Llmlt•d by Guarant•• All of the trustees are members of Ihe company and guarantee to contribute £10 In the event of a winding up. 0. Dgnatlons and L•gaol•s Unrestricted Funds Total Funds Unrestricted Funds Total Funds 202 2023 Donatlons Donations Charitable events Grants Government granl income 64.838 11,315 64,838 11,316 61,524 9,998 61,524 9,998 76,153 76,163 71.522 71,522 6. Rental Prop•rty Incom• Unrestricted. Funds Total Funds Unrestricted Funds Total Funds 2024 2023 Income from Investment propertles 45,942 46,942 39.854 39,854 7. ft•ntal Pr•perty Costs Unrestricted Funds Total Funds Unrestricted Funds Totsl Funds 2024 2023 Repairs and maintenance utilities recharged to tenants Mortgage interest 6.035 8.003 9.365 6,036 8,003 9,366 3,171 7.222 6,706 3,171 7,222 6,706 23,403 23,403 17,099 17,099 14
The ant'zora. In hLo on Charltable Trust UK Com an Llmlted b Guarantee Notes to th• Flnancial Statements For tho Year Ended 31 March 2024 8. Expenditure on Charitable activities by Fund Type Unrestrlcted Funds Total Funds Unrestricted Funds Total Funds 2024 2023 Supporting Sant Zora Singh Lopon Charitable Trust Support costs 97,232 97,232 76.186 76,186 98,732 98,732 78,214 9. Exp•ndltur• on Charllabl• A¢tlvltl•s by Aotlvlty Typ• Activities undertaken directly Support Costs Total Funds 2024 Total Funds 2023 Supporting Sant Zora Singh Lopon Charitable Trust Support costs 97,232 97,232 76,186 97,232 1500 98,732 78,214 10. Anafysls of Support Costs Supportlng Sant Zora Singh Lopon Charitable Trust Total 2024 Total 2023 Governance costs Independent examiners fees 528 1.500 1,600 2,028 11. N•t In¢om• Net income is stated after charging.. 2024 2023 Depreciat'on of tsngible fixed assets 6,154 12. Ind•p•ndent Examlnatlon F••s 2024 2023 Fees payable to the independent examiner for.. Independent examination of financial statements 15
.The.Sant Zora Sln Com an Lo on Charltable Trust UK Limited b Guarantee Notes to the Financial Statements For tha Year Ended 3111 March 2024 13. Staff Costs The average head count of employees during the year was 512023.. 5). The average nurnb8r of full-time equivalent employees during the year is analysed as follows.. 2024 No. 2023 No Number of staff - trustees The total staff costs and employee benefits for the reporttng period are analysed as follows: 024 2023 Number of staff - trustees nll nll No employee received employee benefits of more than £60,000 during the year (2023 - nil). 14. Trust•• Remuneratlon and Exp•ns•s No remuneration or other benefits from employment the char'rty or a lated. entty were received by the trustees. No charlty expenses have been incurred by the trustee$. 16. Tanglbl• Flx•d assets Land and buildings Motor Vehicles Furniture & Equipment Total At 1 11 April 2023 Additions At 31" Mar¢h 2024 388,186 5,700 19.589 743 413,476 743 388,186 5,700 20,332 414,218 D¢precl•tlon At 1 sl April 2023 Charge for the year At 31st March 2024 15,587 3,141 10,959 29,687 19,469 3,985 13,318 36,772 Carrylng amount At 31 st Imarch 2024 368,717 1,715 7,014 377,446 At 318t March 2023 372,599 2,559 8,630 383,788 16
. .Tho Sant Zora Sfn Com hLo on Charltabl• Trust UK Limited b Guarantso Notes to the Financlal Statsm•nts For the Year Ended 3111 March 2024 16. Investments Inv•stment Prop•rti•s Cost or valu4tlon At 1" April 2023 and 31 March 2024 Impairment At 1st April 2023 and 31st March 2024 Carrying amount At 1st April 2023 and 31st Mar¢h 2024 460 000 All inveslmenls shown above are held at valuation. Inv•stment Propertl•s The trustees have valued the investment property at £480,000 on 31 •1 March 2020 based on a review of the local property mathet at that date. 17. Debtors 024 2023 PTepayments and accrued income 14.157 18. Cr•dltors: amounts fairing du• wlthln on• y•ar 2024 2023 Bank loans and overdrafts Payments received on account A(%ruals and deferred income Rental deposits 26.016 26,875 24,138 9,037 4,500 40,412 64,664 19. Credltors: amounts falling due aft•r mor• than on• y•ar 2024 2023 Bank loans and overdrafts 252 611 277 048 Bank loans and overdrafts are secured on freehold property. 17
Tho Sant Zora Sfn h'Lo on Charftabl• Trust UK Corn an Limitsd b Guarantee Not•s to th• Financlal Statements For the Year Ended 3111 March 2024 20. Gov•rnm•nt Grants The amounts recognised in the financial statements forgovernment gratts are as tollows. 2024 Govemment grants income 21. Anilysls of Charltable Funds UnT•Strict•d Funds 1 Aprll 2023 311 Maroh 2024 Income Expenditure General funds 560 947 122 095 122 135 At 1# April 2022 At 3161 March 2023 Income Expenditure General funds 544 884 111376 21 Amfysls •f t4e Ass•ts Betwo•n Funds Unrestricted Funds 2024 Total Funds 2024 Tangible fixed assets Investments Current assets Creditors due within 1 year Creditors due after more than 1 year N•t ass•ts 377,446 460,000 30,726 (54,654) 252611 377,446 460,000 30,726 (64,646) 262 611 560,907 660,907 Unrestricted Funds 2023 Total Funds 2023 Tangible fixed assets Investments Current assets Creditors due within 1 year Creditors due after more than 1 year Not ass•ts 383,788 460,000 34,619 (40,412) 277 048 383.788 460,000 34,619 (40,412) 560,947 560,947 18
The Sant Zora Sin Com Limitsd b Guarantee... Notss to the Financlal Statsments For the Year Ended 3111 March 2024 23. Relatsd Parties D.uring the year Ihe trustses.made donations to the charity wlthout condltions totalling £13,588 (2023 - £8,527) There were no other related party transactions requirlng disclosure. 19