REGISTERED CHARITY NUMBER: 11477711 Report ol the Trustees Ullaudited Finaneial Sthtemenls for the Year Ended 30 Sep¢¢mber 2023 for PARMARTH SADHNA CHARITABLE TRUST UK Khanna & Co. Limited Chartered Accountants 6 Vicarage Road Edgbaston Binningham B15 3ES
PARMARTH SADHNA CHARITABLE TRUST UK CoThtent$ of the FI9ClaI Ststements ror the Year Ended 30 September 2023 Page Report of the Trustees Indep¢ndent Examlller's Report Sta¢erneDt of FiDancial A¢tiYiti¢S Balance Sheet Notes to the FinaDei#l Statemethts 6 to 10
PARMARTH SADHNA CHARITABLE TRUST UK Report of the Trnste for the Year Ended 30 September 2023 The Ie¢S pr¢s¢nt th¢ir r¢port witb the fanCIal statements of the charity for the year ended 30 Sept¢mb¢r 2023. The ITU5tees hav¢ adopt¢d the provision5 of Accounting alld Reporting by Charities.. Ststement of Recommended Practice appli¢able to charities preparing their accounts in accordance with lh¢ Filwirial R¢porting Standard applicable ill the UK and Republi¢ of Ireland (FRS 102) (effective l January 2019). OWECTIVES AND AcfiviTIES Objectives and The aims and objectives of the cbarity are '. - To advance the Sikh religion for the benefit of the public- - To advance educalion, including ¢du¢ation in the Sikh religio and other subjects. for ihe benefit of the public; and To provide or assist in the provision of facilitie5 in the interests of s0¢ial welfare for reereation or other leisure time occupation of individuals who have need of such Fdcilities by reason of their youth. age infirmity or disability. fmartcial hardship or social ¢ircumstanc¢s with the object of improving iheir conditions of life. ACHIEVEMENT AND PERFORMANCE Ch#rAtsble aetivltles We are pleosed to report the clwity did hold religious and educational programm¢s and ¢v¢nts for the publi¢ which were well attended. There wa$ an increase in the numbu of events held during the year when compared to the year b¢fore. By holding these prograTnm¢s and events, we hav¢ been able io advance the understanding of the sikh religion for the benefit of the public and involve th¢ wider community. The freehold properry which is owned by the charity has been used to provide facilities for the public and therefore enabled us to med the chaTity'5 aims and obj¢¢tiv¢s. No material fundraising activities were carried out by the charity in the period and there was no material expenditure lated to current income generation. We do not anticipate any material ¢xpenditLf¢ in respect of income generation for the coming year. W¢ cotfvm that we have considered the latest guidance on publi¢ benefit reporting a$ $pe¢ifi¢d by th¢ Charity Commi5s10n. FINANCIAL REVIEW Reserves policy The trusiees aim to maintain frtt re5etves in unre51ricted funds at a level which equates to a minimum of UreStricted Charilable eXnditUre anticipated ill the following twelve month5. The trust¢¢s consider that thi5 policy will ¢nsur¢ sufficient funds availabl¢ to cov¢r support and governan¢e costs. The actual level of free reserves as at 30 September 2023 were £4S3,641 (2022 . £448,060) which we ¢oll5ider to be adequate. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing do¢um¢tht charity is controlled by its governing document dated 20 May 2012, a deed of tsu5t and constitutes an ut)incorporated charity. The charity was entered on the Register of Charities with the Charity Commission on 20 June 2012. Recruitment appfrlntment of new tr115t¢e$ The trust document requires that there be a minimum of two trustees. In 5¢1ecting individuals for appoinbnent &8 trngte¢ the trustees must have regard ¢0 the skills, knowledge and experAen¢e needed for the effective administrdtion of the Charity. REFERENCE AND ADMINISTRATIVE DETAllS Registered Cb4rity number 1147770 Page I
PARMARTH SADHNA CHARITABLE TRUST UK Report of the Trustees for the Ye*r Ended 30 S¢ptsmb¢r 2023 Pritieipal addre55 15 Sieward Str¢¢t Birn)ingham West Midlands B18 7AF Trn$tees O P Sohal Gssoui Independent Exarnlner Att)] Khan FCA Khanna & Co. Limited Chartered Accountant5 6 Vicarage Road Edgb&5ton B15 3ES Approved by order of the board of trustees on I l Febary 2024 and signed on ils half by: O P Sohal- Trusttt Page 2
Independent Examiner's Report lo the Trllstees of Parmarth Sadhna CharitableTrnst UK Independent exAmlner's report to the tnistee5 of ParrnArth Sadhn4 Charitsble Trust UK I report to the charity trustees on my examination of the accounts of Parmarth Sadhna Charitabl¢ Trw5t UK Ith¢ Trust) for the year ended 30 SeptembeT 2023. Responslbllltie5 and b8515 of report As the charity trustees of the Tnt you ate Tesponsible for the preparloll of tbe 8QU in accordance with the requirements of the Charities Act 2011 Cthe Ace). l Teport in r¢4)ect of my examination of the st,5 accounts caled out under Section 145 of the Act and in carying out my examination I have follow¢d 811 applicable Directions given by the Charity Comrnis5ion under Se¢tion 143(5)(b} of the Aci. IndepeDdent ex8miner'$ st*t¢mtn¢ I have completed my examination. l ¢onfimi that no maierial matters have come to my attention in Connection with the examination giving me cause to believe that in any material respect". accounting records were not kept in respect ofthe Trust as required by Se(tion 130 of the Act. or the aecounts do not accord with those records. or the account5 do not comply the @pplicable requrements concerning the forni and content of a¢¢ounis 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 indep¢nd¢nt examin10n. I hay¢ no concerns and have come across no oth¢r matters in connection with the examination to which attention should be drawD this re1 in order io enable a proper understanding of th¢ accounts to be reach¢d. Atul Khatm4 FCA Khanna & Co. Limiied Chartered Accountanis 6 Vicarage Ri)ad Edgbasto Birn)ingh8tn B15 3ES I l Febnwy 2024 Page 3
PARMARTH SADHNA CHARITABLE TRUST UK Statement of FID#n¢lal Aetlvities ror the Yeor Ended 30 Septemb¢r 2023 2023 Unrestricted fund 2022 Total fimds Notes INCOME AND ENDOWMENfs FROM Dojwions and legacies 33,482 43.476 EXPENDITURE ON Charitable aetivitles Charitable activiti¢s 27,901 23,205 NET tYCOME &581 20271 RECONCILIATIOIY OF FUNDS Total fvnds bToughi forward 448,060 427,789 TOTAL FUNDS CARRIED FORWARD 453.641 448,060 Th¢ not¢s fonn pth of these financial stat¢ment$ Pag¢ 4
PARMARTH SADHNA CHARITABLE TRUST UK Bal¥4ce Sheet 30 September 2023 2023 UDrestrithd 2022 Total funds Notes FIXED ASSETS Tangible assets 367,028 373,943 CURRENf ASSETS Debtors Cash at bank and in hand 7,500 80J60 685 74,473 8760 75,158 CREDITORS Amounts falling due within on¢ year (1247) (1.041) NET CURREIYT ASSETS 86,613 74,117 TOTAL ASSETS LESS CURRETr4T LIABILITIES 453,641 448,060 NET ASSETS 453,041 448,060 FUNDS UnTestrieted funds 10 453,641 448.060 TOTAL FUNDS 453,641 448,060 The fmancial stalements w¢r¢ appmed by the Board of ThJstee5 and authorised foT isgue on I l February 2024 and were sign¢d on its beha]f by.. a IJG4kO O P Sohal- Ttee The notes forn part of these fman¢ial statements Page 5
PARMARTH SADHNA CHARITABLE TRUST UK Notes to the FI*tIll Ststements for the Year EDded 30 Septernber 2023 ACCOUNTING POIJCIES Basls of PTep4ring th¢ fin8n¢i•l $tst¢meDts The fanCial stat¢m¢nts of th¢ charity, whi¢h As a public b¢nefit entity under FRS 102, have b¢en prepared in aceordance with the Charities SORP IFRS 102) 'Accounting and R¢p)rting by Charities.. Statement of R¢commended Practice applicable to charities pieparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effective l January 2019)., Financial Reporting Standard 102 Tr Financial Reporting Standard applicable in the UK ond Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. Incotne All income is recognised in the Statement of Financial Adivilies on¢e the ¢harity hos entitlement io the fumds, it 1$ probabl¢ that the income will be receiveJJ and the amount can be me&sured reliabty. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to expenditur¢, it is probable that a transfer of economie benefits will be required in settlement and tbe amount of the obligation can be measured reliably. Expenditure is acwunted for on an accrua]s basis and has b¢¢n ¢lassified uttder headings that aggregate all cost related to the category. Where costs cannot be directty attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tanglble fixed assets DeprlatIOn is provided at the following annual rates in order to MTite off each assel over ils estimated useful life. Freehold properry Fixture5 and fitting5 2Y• on cost 23•/fj on reducing balan¢¢ TaAatlon The charity is exempt from tax on its charitsbl¢ a¢tivities. accounting UJ]restricted fimds can be used in accordance with the charilabl¢ objectives ai the discr¢tion of lh¢ trll5tees. Restricted funds only be w¢d for particular restricted pUoseS within the objects of the charity. Restrictions arise when specified by the donor or when fuThts aTe raised for parti¢ular restricted pU0$e5. Further explanation of the nalure and pury>ose of ea¢h fimd is included in th¢ notes to the financial stat¢ments. Voluntttr help The value of any voluDtary help received by the charity is not ineluded iti the accounts. Page 6 ¢oniinved...
PARMARTH SADHNA CHARABLE TRUST UK Not¢5 to the Finallci81 Statements- eontlnued for the Year Ended 30 Seplember 2023 DONATIONS AND LEGACIES 2023 2022 Donations 33,482 43,476 CHARITABLE ACTIVITIES COSTS Direet Costs {$¢¢ note 4) Charitsble activities 27SOI DIRECT COSTS OF CHARITABLE ACTIVITIES 2023 2022 Rates and water Insutznce Light and h¢at Repairs Consumables Printing Legal fees Depreciation 2,039 2,858 12,718 2,477 694 21KI 3.032 2,932 8,535 829 180 120 420 7,157 6,915 27,901 23,205 TRUSTEES, REMUNERATIOIY AL¥D BENEFITS There were no tSte¢s, remuneralion or other benefits for tbe year ended 30 September 2023 nor for the year eDded 30 September 2022. Trnstses. expeTrses TheTe weTe no trustees, expenses paid for the year ended 30 September 2023 nor for the year ended 30 Sewember 2022. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fulld INCOME AND ENDOWMENTS FROM Donations and legacies 43,476 EXPEf4DITURE ON Cb8rltAble activitle5 ChaTi¢able a¢tivities 23,205 NET INCOME 20271 Page 7 continued...
PARMARTH SADHNA CHARITABLE TRUST UK Noles to th¢ Fin#neial Statements- continue41 for the Year Ended 30 September 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITJES- Continued Unrestricted fund RECOf4CILIATION OF FUNDS Totsl funds brought forward 427,789 TOTAL FUNDS CARRIED FORWARD 448,060 TANGIBLE FIXED ASSETS Fixtures Frtthold property fittings Totsls COST Ai l O¢thber 2022 and 30 Seoember 2023 434,407 35,422 469,829 DEPRECIATION At l Odob¢T 2022 Ch8rge (or year 63J71 6,188 32,SlS 727 9SO86 6.915 AI 30 September 2023 69559 33242 102JOI NET BOOK VALUE At 30 September 2023 364,848 2,180 367,028 AI 30 September 2022 371,036 2,907 373,943 Included in cost or valuation of land and buildings is fr¢ehold la1 of £125,0(M) (2022 - £125,000) wbich is not depreciated. DEBTORS: AMOUNTS FALLING DUE WlThtN ONE YEAR 2023 2022 7,500 685 Page 8 continued...
PARMARTH SADHNA CHARITABLE TRusf UK Notss to the Financlal Statements- continu¢d ror the Year Endeij JO S¢pternber 2023 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 A¢ctua]s and def¢ed income 1247 1.041 io. MOVEMENT IN FUNDS Net mov¢m¢nt in fijnds At 1.10.22 At 30.9.23 Unr¢strieted funds General fimd 448,060 5,581 453,641 T(wfAL FUNDS 448,060 5,581 4S3,641 Net movement in funds. included in ihe above ar¢ as follows: Incoming resources Resources expended Movement in fimds Unrestricted funds G¢n¢rdl fimd 33,482 (27,901) TOTAL FUI¥DS 33,482 (27,901} SJ81 Comparatives for mov¢ment funds Net movement in fijnds At 1.10.21 At 30.9.22 Unrestrieted funds General fid 427,789 20,271 448,060 TOTAL FUNDS 427.789 20.271 448,1160 Conlpardtive net movement in funds. included in the above are as follows.. Incoming resources Resources expended Movement in tiinds Unrestrieted funds General nd 43,476 (23205) 20,271 TOTAL FUNDS 43,476 (23,205) 20,271 Page 9 continued...
PARMARTH SADHNA CHARITABLE TRUST UK Not¢$ to tbe Financial Statements- contlnued for the Year Ended 30 September 2023 io. MOVEMENT IN FUNDS- continued A current year 12 n)onths and prior year 12 months wmbined position is as follows.. N¢t movement in funds Al 1.10.21 At 30.9.23 Unrestrictsd funds General fvThd 427,789 25,852 453,641 TOTAL FUNDS 427,789 25,852 453,641 A current year 12 months and prior y¢ar 12 months Mbined net movement in fimds, included in the above are as follows.. In¢omÈng resources Resources ¢xp¢nd Movement in fidS Unrestricted funds General fill)d 76.958 (51,106) 25,852 TOTAL FUNDS 76,958 151,106) 25.852 ii. RELATED PARTY DISCLOSURES The charity received dOationS totalling £6.000 (2022: £6.OW ) from O & P Fashion Fabrics Limited. Mr O P Sohal is a director and was a shareholder of O & P FLshion Fabrics Limited. Page 10