REGISTERED CHARITY NUMBER: 1147770 Report of lh¢ Trnstee5 Un4udited FiDanciAI StatemeDts for the Year Eded 30 September 2024 for PARMARTH SADHNA CHARITABLE TRUST UK Khannd & Co. Limited Chart¢r¢d AoUntantS 6 Vicarage Road Edgbaston Bimiingham B153ES
PARMARTH SADHNA CHARrrABLE TRUST UK Contsnts of th¢ Flnaneial StstemeDts (or the Year Ended 30 September 2024 Page RepDrt of the Trnstees Indtptndent Ex¥4miner's Report Stalement of Flnanelal Act}tIeS Balance Sheet Notes to the Fina¢1] Stst¢ments 6 to 10
PARMARTH SADHNA CHAIUTABLE TRUST UK Report of the Trustees for the Year EDded 30 S¢pttbeT 2024 The tNstees present their report with the r]nan¢ial stal¢rn¢nts (Trf th¢ ¢harity for th¢ y¢ar end 30 September 2024. The tNstees have adopted the Provisions of Accounting and Reporting by Charities: Stst¢m¢nt of Recomm¢lld Practice applicable to ¢horities preparing their a¢counts in accordance with the Financial Reporting Standard applicable in the UK and Republic of IT¢land IFRS 102) (effe¢tiv¢ l January 2019). OBJECTIVES AND A[VITIEs Objectives and aims The aims and obj¢¢tives of the chariry are '. - To advance the Sikh religion for the benefit of the public. - To advance education, including education in the Sikh Teligion. and other subjects. for the benefrt of the public. and To provide or assist in the provision of faci]ities in the inieresÉg of social welfare for recreaiion or other leisure time occupation of individuals who have need of such ts¢ilities by re&son of th¢ir youth, age infrnIty or disability, flnancial hardship or social circutnstances with the object of improving their conditions of life. ACHIEVEMENT AND PERFORMANCE Charltsble a¢¢ivities We are pleased to ert that the charity did hold religious and educational programmes and ev¢llts for the public whi¢h wer¢ w¢ll att¢nd¢d. There was an AJLcrease in the number of events held during the year when wmpared to the year before. By holding these progtwnmes and events, we have been able to advance the understanding of the sikFL religion for the benefit of the publi¢ and involve the wider community. The freehold propeTry which is owned by the charity has been used io provide facilities forthe public and therefore enabled us to meet the chaTity's ain and obje¢tives. No material fundraising activities were &qrried out by the ehariry in the period and there was no material expenditure related to current income gertion. We do not anticipat¢ any m#i¢riai ¢xp¢nditw¢ in r¢sp¢d of in¢om¢ g¢n¢rntion for th¢ coming year. We confirm that we have considered the latest guidance on public b¢n¢fit reporting as SPlfIed by the Charity Co]nrni55ion. FINANCIAL REVIEW Reserves poll¢y The trSteeS aim to maintain free reserves in unrestricted fi]nds at a level which equat¢s to a minimum of unrestri¢t¢d haritsble expenditure aniicipated in the following twelve months. The trustees consider that this policy will ensure sufficient funds available to wver support and governance costs. The actual level of free reserves as at 30 September 2024 were £467,819 (2023 .. £453.641) which we consider to be adequate. STRUCTURE, GOVERNANCE AND MANAGEMENT Goyerning document The charity is controlled by its governing document dated 20 May 2012, a deed of trugt and COnltuteS an unincorporated charity. The charity was entered on the Register of Charities with the Charity Comrnission on 20 Jun¢ 2012. R¢¢rllltMent and appolntment of new trustees Th¢ trust dwum¢nt requires that there be a minimum of two trustees. Ill selecting Andividua]s for appointment as tste¢S, the tswstee5 must have regard to the skills. knowledg¢ ond experience needed for the effe¢tiv¢ administraiion of the charity. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity Dumber 1147770 Page I
PARMARTH SADHNA CIIAIUTABLE TRUST UK Report of the Trystees for tbe Year Etkded 30 September 2024 Prinelpal addre55 15 Steward Street Birniingham West Midlands B187AF Trustee5 O P Sohal Gssoul Independent ExamItr Atul Khan FCA Khatjna & Co. Lin)ited Chartered Accountwts 6 Vicarage Road Edgbthon Birniingham B153ES Approv¢d by order of the trA)ard of tnjstees on 16 Juty 2025 and sigDed on its behalf by.. O P Sohal. Trnstee Page 2
IDdep¢DdeDt Examiner'5 Report to tbe Trustees of Parmarth Sadhna Charilable Trust UK Independent e%aminer's T¢POrt to the tru$te¢$ ofpgrjngrth SAdhno Charltable Trust UK I report to the chaTity trustees on my examination of the accounts of PaTmarth Sadhna Charitable Trust UK (the Trnst) foT lh¢ year ended 30 September 2024. Responslbllitles and bjsls of report As the charity trustees of the Trust YOU att r¢swnsible for the preparation of the accounis in accordance with tbe requirements of the Charities Act 2011 Cth¢ ACQ. l T¢PQrt in r¢spect of n)y exalnination of the Tntsvs accounts carried out under Sectton l45 of the Act and in carrying out my examination I have followed all applicable Diredions giv¢n by the Charity Cornmission under Section 145(5)(b) of tILe Act. Independent txamlner's sthtement I have completed my exatninarion. I confurn that no malerial matters have com¢ to my attentlon in coDn¢ctiOD with the examination givtng mt ¢aus¢ to believe in any material respec¢.' accounting records weTe noi kept in respect of the Trust as required by Section 130 of the Act; or the accounts do not accord with those records; or the accounts do not comply with the applicable requirements ¢on¢¢rning the fom and ¢oni¢nt of aceouni$ set out in the Charities (Accounts and Report5) Regulations 2008 other than any requiremeni that the a¢¢ount$ give a tru¢ 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 th¢ examination to whi¢h att¢ntion should be drawll in this report in order to enable a proper understanding of the accounts to be reached. Awl Khann4TCA Khanna & Co. Limited Chartered Accotsntants 6 Vicarag¢ Road Edgbasion Birn]ingham BE5 3ES 16 Juty 2025 Page 3
PARMARTH SADHNA CHARrrABLE TRUST iIK Ststement of FinAncial Aetivities lor the Year Ended 30 September 2024 2024 UDr¢strirt fund 2023 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 42,756 33,482 Investmern income 877 Total 43,633 33,482 EXPENDITURE ON Charitsble aetivitles Charitable activities 29,455 27,901 NET INCOME 14,178 5,581 RECONCILIATION OF FUNDS Total fimds brought forward 453,641 448,060 TOTAL FUNDS CARRIED FORWARD 467019 453,641 The notes forn) part of these fJDancial steMents Pag¢ 4
PARMARTH SADHNA CHARITABLE TRUST UK Balance Sheet 30 September 2024 2024 Unre5tri¢tfd 2023 Total funds Notes FIXED ASSETS Tattgible assets 389,695 367.028 CURRENT ASSETS Debtors Cash at bank and in hand 7,500 80,360 79J22 79J22 87,860 CREDITORS Arnounts falling due within one year 10 (1,198) (1,247) NET CURRENT ASSETS 78,124 86.613 TOTAL ASSETS LESS CURRENT LIABILJTIES 46719 453,641 NET ASSETS 467019 453.641 FUNDS Unrestricted funds 467019 453,641 TOTAL FUNDS 467019 453,641 The fjnancial statern¢nts We approved ty the Board of Trustees and authorised for issue on 16 July 2025 and were sied on its behalf by.. OPSohal-T The notes forni part of these fmancial statements Page 5
PARMARTH SADHNA CHAIUTABLE TRUST UK Notes to the FiTrancial StateD)ents for the Yejr End¢d 30 Septemb¢r 2024 ACCOUNTING POLICIES Basis of preparing the finaneial ststements The fiThancial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Ctwities SORP (FRS 102) 'AccountiAg And Reporting by Chariiies.. StatemeMt of R¢cotnmended Practice applicable to charities preparing their accounts in aceordAnce with the Financial Reporting Standard applicabl¢ in the UK and Republic of Ireland IFRS 102) (effective l January 2019).. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The fanCIal statements have been prepared under th¢ historical cost convention. All incorne is Tecognised in the Statemeni of Financial Activities on¢¢ the ¢harity has entitlement to the funds, it 1$ probable that the Income will be received and the amount ¢an be m¢&sured reliably. Expenditure Liabilities are recognised es expenditure as as there is a legal or constructive obligation committing th¢ charity lo that expenditure, it 1$ probabl¢ that a transfer of economic benefits will be requirwj in settlement and the amount of the obligdtion can be measured reliably. Expenditure is a¢counted for on an accruals basis and has been ¢la5sified under headings that aggre8e all cost related to the category. Where costs cannot be directty attributed to particular headings th¢y bave b¢en allocated to activities on a basis consistent with the use of Tangible fixed assets tkpreciation is provided at the following annual r*es in order to write off each &%set over its estimated useful life. Freehold pro Fixtures and fittings 2 /0 on cost 25Q/• on reducing balance Tax4tio The charity is exempt from tax on its charitable activities. Fund aecouDting Unrestricted ndS can be used in accordan¢e wilh ihe ehaTitsble objectives at the discretion of the trnstees. Restricted ndS Only be used for particular restricted purposes within the objects of the cbarity. Restrictions arise when specified by the donor or when fidS aTe rni5ed for particular restri¢ted purposes. Further explanation of the nature and Purpose of each fijnd is included in the notes to the rmanc1 ststements. Volunteer help The value of any volw]tary help received by th¢ charity is not included in the accounts. Page 6 cominued...
PARMARTH SADHNA CHARITABLE TRUST UK Notes to the FID2nelal Statements- eontinued for the Year Ended 30 September 2024 DONATIONS AND LEGACIES 2024 2023 Donatiorts 42,756 33.482 INVESTMENf INCOME 2024 2023 Deposit account interest 877 CHARITABLE ACTIVITIES COSTS Direct Costs (stt nole 5) Charitabl¢ tIViti 29,455 DIRECT COSTS OF CHARITABLE ACTivrrIES 2024 2023 Rates and water Insurance Light and heat Repairs Consumables Printing D¢preciation 2,161 2,961 7240 7090 1.870 2,039 2,858 12,718 2.477 694 200 6,915 7J33 29,455 27,901 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, r¢mun¢ralion or other benefits for the year ended 30 September 2024 nor for the year ¢ttded 30 September 2023. Trnstees, expenses There were no tswstees, expenses paid for the year ended 30 stember 2024 nor for Ihe year ¢nd¢d 30 September 2023. Page 7 continued...
PARTH SADHNA CHARITABLE TRUST UK Notes to the Financial Statements- eontinued for the Year Ended 30 September 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Umrestricted fId INCOME AND ENDOWMENTS FROM Donations and le81¢$ 33,482 EXPENDITURE ON Choritable activities Chariiable activities 27,901 NET INcOlE 5,581 RECONCILIATION OF FUNDS Total ndS brought forward 448.060 TOTAL FUNDS CARRIED FORWARD 453.641 TANGIBLE FIXED ASSETS Fixtures Freehold property fittings Totals COST At l October 2023 Additiolls 434,407 30,0011 35,422 469,829 30,000 At 30 S¢ptemb¢r 2024 404,407 35,422 499029 DEPRECIATION At l October 2023 Charg¢ for year 69,559 788 33,242 545 102001 7J33 At 30 S¢ptember 2024 76J47 33.787 110,134 NET BOOK VALUE At 30 September 2024 3W060 1,635 389,695 At 30 September 2023 364.848 2,180 367,028 Included cost or valuation of land and buildings is freehold land of £125,000 (2023 £125,000) which is noi depreciated. Page 8 continued...
PARMARTH SADHNA CHARITABLE TRUST UK No¢¢5 to the Fin4th¢io1 S¢4¢¢m¢nts- ¢othtinued for the Year Ended 30 September 2024 DEBTORS: AMOUNTS FALLING DUE WITHJN ONE YEAR 2024 2023 Prepayments and accrued income 7.500 io. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals and deferred income 1,198 1,247 MOVEMENT IN FUNDS Net rnov¢m¢nt in funds Ai 1.10.23 Ai 30.9.24 Unrestrietsd funds General fiu 453,641 14,178 467019 TOTAL FUNDS 453.641 14,178 467,819 Net mov¢m¢nt in fid5. included in the above are follows: Inrorning r¢50urces R¢sourc¢s ¢xp¢tKled Mov¢rn¢nt infiu Unrestricted funds Gen¢ral fid 43ffi33 (29,455) 14,178 TOTAL FUNDS 43,633 (29,455) 14,178 Comparntives for movement funds Net movement in funds At .10.22 At 30.9.23 Unrestricted (unds General fund 448.060 5,581 453,641 TOTAL FUNDS 448,060 5,581 453.641 Page 9 continued...
PARMARTH SADHNA CHARITABLE TRUST UK Notes to the Financial StatsmeDts- eontlDued for tbe Year Ended 30 September 2024 MOVEMENT IN FUNDS- eontinued Comparative net movement iry funds. included in th¢ above are follows.. Incoming Tesources Resource5 expended Move]neDt Unrestricled funds General fund 33,482 (27,901) S,58l TOTAL FUNDS 33,482 (27,901) 5,581 A current Ye 12 months and prior y&v 12 months combined position is as follows: N¢t movement in funds At 1.10.22 At 30.9.24 Unrestrittsd funds General fund 448,060 19,759 467,819 TOTAL FUNDS 448,060 t9,759 467,819 A Cuent year 12 months and prior year 12 months combined net movement in fund& included in the above are as follows.. Incoming resour¢¢s Resources expended Movement in funds Unrestricted funds General fvnd 77,115 (57,356) 19,759 TOTAL FUNDS 77,115 (57,356) 19,759 12. RELATED PARTY DISCLOSURES The charity re¢£ived donations totalling £6,0(M) (2023.. £6,000 } from O & P Fashion Fabri¢s Limited. Mr O P Sobal is a dire¢tor and was a %hareholder of O & P Fashion Fabrics Limited. Page 10