## **KHALSA INTERNATIONAL WELFARE SOCIETY** ## **Charity No. 1152436** **Company No. 08346406** **Trustees' Report and Unaudited Accounts** **31 January 2023** **KHALSA INTERNATIONAL WELFARE SOCIETY Contents** ||Pages|| |---|---|---| |Trustees' Annual Report|2 to 3|| |Independent Examiner's Report||4| |Statement of Financial Activities||5| |Summary Income and Expenditure Account||6| |Balance Sheet||7| |Statement of Cash flows||8| |Notes to the Accounts|9 to|14| |Detailed Statement of Financial Activities|15 to|16| Page 1 **KHALSA INTERNATIONAL WELFARE SOCIETY Trustees Annual Report** ## KHALSA INTERNATIONAL WELFARE SOCIETY The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 January 2023. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Company No. 08346406** ## **Charity No. 1152436** ## **Principal Office** 58 Amber Drive Mickleover Derbyshire DE3 0AY ## **Registered Office** 58 Amber Drive Mickleover DE3 0AY ## **Directors and Trustees** The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: M. BOLLA B.S. NANUWAN S. NANUWAN ## **Accountants** Julie Black Accountancy Ltd Suite 12 Tradmark House Hyssop Close Cannock WS11 7FA ## **Bankers** LLoyds Bank Irongate Derby ## **OBJECTIVES AND ACTIVITIES** Public benefit Khalsa International Welfare Society organised free eye care camps, provided free food and clothes to those in need and funded improvements to religious monuments. Page 2 ## **KHALSA INTERNATIONAL WELFARE SOCIETY Trustees Annual Report** The member confirms he has complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102). Signed on behalf of the board B.S. NANUWAN Trustee 12 October 2023 Balbinder Nanuwan (Oct 16, 2023 16:52 GMT+1) Page 3 **KHALSA INTERNATIONAL WELFARE SOCIETY Independent Examiners Report** ## **Independent Examiner's Report to the trustees of KHALSA INTERNATIONAL WELFARE SOCIETY** I report to the charity trustees on my examination of the financial statements of KHALSA INTERNATIONAL WELFARE SOCIETY for the year ended 31 January 2023. ## **Responsibilities and basis of report** As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act. Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe: - accounting records were not kept in accordance with section 386 of the 2006 Act ; or - the financial statements do not accord with those records; or - the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or - 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 with 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 drawn in this report in order to enable a proper understanding of the financial statements to be reached. Julie Black (Oct 12, 2023 16:39 GMT+1) Julie Black ACMA Julie Black Accountancy Ltd Suite 12 Tradmark House Hyssop Close Cannock WS11 7FA 12 October 2023 Page 4 **KHALSA INTERNATIONAL WELFARE SOCIETY Statement of Financial Activities** ## **for the year ended 31 January 2023** |**Notes**
**Income and endowments**
**from:**
Donations and legacies
3
**Total**
**Expenditure on:**
Charitable activities
4
Other
5
**Total**
Net gains on investments
**Net income**
Transfers between funds
**Net income before other**
**gains/(losses)**
**Other gains and losses**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
107,746|**Total funds**
**2023**
**£**
107,746|**Total funds**
**2022**
**£**
96,886| |---|---|---|---| ||107,746
97,257
10,017|107,746
97,257
10,017|96,886
74,257
5,454| ||107,274
-|107,274
-|79,711
-| ||472
-|472
-|17,175
-| ||472|472|17,175| ||472
24,240|472
24,240|17,175
7,065| ||24,712|24,712|24,240| Page 5 **KHALSA INTERNATIONAL WELFARE SOCIETY Summary Income and Expenditure Account** ## **for the year ended 31 January 2023** |Income
**Gross income for the year**
Expenditure
**Total expenditure for the year**
Net income before tax for the year
**Net income for the year**|**2023**
**£**
107,746
107,746
107,274
107,274
472
472|**2022**
**£**
96,886| |---|---|---| |||96,886| |||79,711| |||79,711| |||17,175| |||17,175| Page 6 **KHALSA INTERNATIONAL WELFARE SOCIETY Balance Sheet** ## **at 31 January 2023** |**at 31 January 2023**|| |---|---| |**Company No.**
**08346406**
**Notes**
**2023**
**£**
**Current assets**
Cash at bank and in hand
26,292
26,292
**Creditors:**Amount falling due within one year
7
(1,580)
**Net current assets**
24,712
**Total assets less current liabilities**
24,712
**Net assets excluding pension asset or liability**
24,712
**Total net assets**
24,712
**The funds of the charity**
**Restricted funds**
8
**Unrestricted funds**
8
General funds
118,099
Designated funds
(93,387)
24,712
**Reserves**
8
**Total funds**
24,712|**2022**
**£**
25,619| ||25,619
(1,379)| ||24,240
24,240| ||24,240| ||24,240| ||24,240
-| ||24,240| ||24,240| These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. For the year ended 31 January 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 05 October 2023 And signed on its behalf by: Balbinder Nanuwan (Oct 16, 2023 16:52 GMT+1) B.S. NANUWAN Trustee 12 October 2023 Page 7 **KHALSA INTERNATIONAL WELFARE SOCIETY Statement of Cash flows** ## **for the year ended 31 January 2023** |**Cash flows from operating activities**
**Net income per Statement of Financial Activities**
**Adjustments for:**
Other gains/losses
Increase in trade and other payables
**Net cash provided by operating activities**
**Net cash from investing activities**
**Net cash from financing activities**
**Net increase in cash and cash equivalents**
**Cash and cash equivalents at the beginning of the year**
**Cash and cash equivalents at the end of the year**
**Components of cash and cash equivalents**
Cash and bank balances|**2023**
**£**
472
-
201
673
-
-
673
25,619
26,292
26,292
26,292|**2022**
**£**
17,175
-
279| |---|---|---| |||17,454| |||-| |||| |||-| |||| |||17,454| |||8,165| |||25,619| |||| |||25,619| |||| |||25,619| Page 8 **KHALSA INTERNATIONAL WELFARE SOCIETY Notes to the Accounts** **for the year ended 31 January 2023** ## **Basis of preparation** The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. ## **Change in basis of accounting or to previous accounts** There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. ## **Fund accounting** - Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. - Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. - Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. ## **Income** - Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. - Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. - Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. - Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Page 9 **KHALSA INTERNATIONAL WELFARE SOCIETY Notes to the Accounts** Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets ## **Expenditure** Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT expenditure which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Cash and cash equivalents** Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. ## **Trade and other creditors** Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## **Foreign currencies** Page 10 **KHALSA INTERNATIONAL WELFARE SOCIETY** ## **Notes to the Accounts** Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net income/expenditure. ## **Receipt of donated goods, facilities and services** All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. ## 1 **Company status** The company is a private company limited by guarantee and consequently does not have share capital. ## 2 **Statement of Financial Activities - prior year** |**Income and endowments from:**
Donations and legacies
**Total**
**Expenditure on:**
Charitable activities
Other
**Total**
**Net income**
**Net income before other**
**gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
3
**Income from donations and legacies**
Donations|**Unrestricted**
**£**
107,746
107,746|**Unrestricted**
**funds**
**2022**
**£**
96,886
96,886
74,257
5,454
79,711
17,175
17,175
17,175
7,065
24,240
**Total**
**2023**
**£**
107,746
107,746|**Total funds**
**2022**
**£**
96,886| |---|---|---|---| ||||96,886
74,257
5,454| ||||79,711| ||||17,175| ||||17,175| ||||17,175
7,065| ||||24,240| ||||**Total**
**2022**
**£**
96,886| ||||96,886| Page 11 **KHALSA INTERNATIONAL WELFARE SOCIETY** ## **Notes to the Accounts** ## 4 **Expenditure on charitable activities** |_Expenditure on charitable_
_activities_
_Governance costs_
Telephone
Printing, postage and
stationery
Accountancy
Bank charges
5
**Other expenditure**
Office expenses
Motor and travel costs
6
**Staff costs**
No employee received emoluments in excess of £60,000.
7
**Creditors:**
amounts falling due within one year
Accruals|**Unrestricted**
**£**
93,387
1,310
492
1,200
868
97,257
**Unrestricted**
**£**
555
9,462
10,017
**2023**
**£**
1,580
1,580|**Total**
**2023**
**£**
93,387
1,310
492
1,200
868
97,257
**Total**
**2023**
**£**
555
9,462
10,017|**Total**
**2022**
**£**
71,783
763
133
1,000
578| |---|---|---|---| ||||74,257| ||||**Total**
**2022**
**£**
2,159
3,295| ||||5,454| ||||**2022**
**£**
1,379| ||||1,379| Page 12 **KHALSA INTERNATIONAL WELFARE SOCIETY Notes to the Accounts** ## 8 **Movement in funds** |**At 1**
**February**
**2022**
**Restricted funds:**
**Unrestricted funds:**
**General funds**
24,240
**Designated funds:**
Eye care camps in Pakistan
-
Food and clothing and other
donations
-
Widow fund India
-
Healthy People Project India
-
_Total_
-
**Total funds**
24,240
Purposes and restrictions in relation to the funds:
Designated funds:
Eye care camps in Pakistan
Improve eyesight to needy
Food and clothing and other
donations
Improve welfare of needy
Widow fund India
Provide assistance to widows
Healthy People Project India
Health assistance India|**Incoming**
**resources**
**(including**
**other**
**gains/losses)**
**£**
107,746
-
-
-
-
-
107,746|**Resources**
**expended**
**£**
(13,887)
(37,457)
(39,430)
(11,400)
(5,100)
(93,387)
(107,274)|**At 31**
**January**
**2023**
**£**
118,099
(37,457)
(39,430)
(11,400)
(5,100)| |---|---|---|---| ||||(93,387)| ||||| ||||24,712| ||||| ||||| ||||| ||||| ||in India||| ||||| ## 9 **Analysis of net assets between funds** |Net current assets
10 **Reconciliation of net debt**
Cash and cash equivalents
Net debt|**At 1**
**February**
**2022**
**£**|**Unrestricted**
**funds**
**£**
24,712
24,712
**Cash flows**
**£**|**Total**
**£**
24,712| |---|---|---|---| ||||24,712| ||||**At 31**
**January**
**2023**
**£**| ||25,619|673|26,292| ||25,619
25,619|673
673|26,292| ||||26,292| Page 13 **KHALSA INTERNATIONAL WELFARE SOCIETY Notes to the Accounts** ## 11 **Related party disclosures** ## _**Controlling party**_ The company is limited by guarantee and has no share capital; thus no single party controls the company. Page 14 **KHALSA INTERNATIONAL WELFARE SOCIETY Detailed Statement of Financial Activities** ## **for the year ended 31 January 2023** |**Income and endowments from:**
Donations and legacies
Donations
**Total income and endowments**
**Expenditure on:**
Charitable activities
Governance costs
Telephone
Printing, postage and stationery
Accountancy
Bank charges
**Total of expenditure on charitable**
**activities**
Other expenditure
Office expenses
Motor and travel costs
Travel and subsistence
Business mileage costs
reimbursed
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net income**
**Net income before other**
**gains/(losses)**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward|**Unrestricted**
**funds**
**2023**
**£**
107,746
107,746
107,746
93,387
93,387
1,310
492
1,200
868
3,870
97,257
555
555
3,220
6,242
9,462
10,017
107,274
-
472
472
-
472
24,240|**Total funds**
**2023**
**£**
107,746
107,746
107,746
93,387
93,387
1,310
492
1,200
868
3,870
97,257
555
555
3,220
6,242
9,462
10,017
107,274
-
472
472
-
472
24,240|**Total funds**
**2022**
**£**
96,886| |---|---|---|---| ||||96,886| ||||96,886
71,783| ||||71,783| ||||763
133
1,000
578| ||||2,474| ||||74,257
2,159| ||||2,159| ||||1,709
1,586| ||||3,295| ||||5,454| ||||79,711
-| ||||17,175| ||||17,175
-| ||||17,175| ||||7,065| Page 15 **KHALSA INTERNATIONAL WELFARE SOCIETY Detailed Statement of Financial Activities** **Total funds carried forward** 24,712 24,712 24,240 Page 16