CITY SIKHS FOUNDATION Charity number 1160843 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2023 COMMUNITY CITY SIKHS FOUNDATION CONTENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Page Legal & administrative information Independent examination report Statement of financial activity Balance sheet Notes forming part of the financial statements CITY SIKHS FOUNDATION LEGAL & ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2023 CharFty Number: 1160843 Trustees: Jasvir Singh CBE Param Singh MBE Harry Virdee BEM Meeno Chawla Registered address: CIO City Sikhs Foundation 77-79 Charlotte Street London W1T4PW Independent examiners: Community360 Winsleys House High Street Colchester Essex C01 1UG Bankers: Barclays Bank CITY SIKHS FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023 I report on the accounts of City Sikhs Foundation for the year ended 31 December 2023 which are set out on pages 3 to 7. Respective responsibilities of trustees and examiner The Charity's Trustees are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not required for this year (under section 144 (2) of the Charities Act 2011 (The Act) but that an independent examination is needed. It is my responsibility to.. Examine the accounts under section 145 of the Charities Act, To follow the prO￿d￿reS laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the Charities Act, and To state whether particular matters have come to my attention. Basis of Independent examiner's Statement My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes considerations of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the eviden￿ that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts. Independent examiner's statement In the course of my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect= the accounting records were not kept in accordance with section 130 of the Charities Act., or the accounts did not accord with the accounting records., or the accounts did not comply with the applicable requirements concerning the form and content of the accounts 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 independent examination. I 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 accounts to be reached. Shelley-marie Rudling FMA4T AATQB for and on behalf f: Community360 Winsley's House, High Street, Colchester, Essex Date 10.10.2024 CITY SIKHS FOUNDATION STATEMENT OF FINANCIAL ACTIVITY FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Funds Restricted Funds 2023 Total 2022 Total Note Incom8 Donations & legacies Charitable activities 9,594 248 9,594 248 3,770 23,582 Total Income 9,842 9,842 27,352 Expenditure Charitable activities Cost of raising funds Total Expenditure 1,011 82 1,799 411 2,810 493 19,573 2,084 21,657 1,093 2,210 3,303 Net incomel(expense) 8,749 (2,210) 6,539 5,695 Total funds at 1 January 2023 19,578 10,329 29,907 24,212 Total funds at 31 December 2023 28,327 8,119 36,446 29,907 The notes on page 5- 7 form part of these financial statements. CITY SIKHS FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Note Current assets Cash at bank and in hand Debtors Tolal current assets 36.666 29,815 696 30,511 36,666 Current liabilities Creditors 220 604 Net assets 36.446 29,907 Unrestricted funds Restricted funds Total funds 10 10 28,327 8,119 36,446 19,578 10,329 29,907 The Trustees declare that they have approved the accounts. Signature valid Digirally STgDvd Dat¢. 2024 09 27 Sin8h Virde¢ ..43 CF.5T Signed Date Name". Harpreet Singh Virdee CITY SIKHS FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 1. Accounting policies The principle account policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year. Basis of the preparation of the accounts The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement on Recommended Practise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191- (Charities SORP IFRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy or note. Cash flow The financial statements do not include a cash flow statement because the charity, as a small reporting entity, is exempt from the requirement to prepare such a statement under Financial Reporting Standard 1 "Cash flow statements" Fund accounting Unrestricted funds are avaliable for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds are subject lo restrictions on their expenditure imposed by the donor or through the terms of an appeal. Incoming resources A11 income is included in the statemenl of financial activity when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied lo particular categories of income. Voluntary income is received by way of granls, donations and gifts and is included in full when receivable. Donated services and facilities are included af the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts. Investment income is recognised on an accruals basis. Resources expended Expenditure is recognised once there is a legal or ¢onstructive obligation to make a payment lo a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings.. Costs of raising funds relate to the costs incurred by the charitable company in inducing third parties lo make voluntary contributions to rt, as well as the cost of any activities with a fundraising purpose. Expenditure on charitable activities includes the cost of activities undertaken to further the purposes of the charity and their associated support costs. Other expenditure represents those items not falling into any other Allocation of support costs Resources expended are allocated to the particular activity where the cost relates directly to Ihal activity. However, the cost overall direction and administration of each activity, comprising the administrative and overhead costs of the central function apportioned based on trusteelvolunleer time, of the amounl attributable to each activity. CITY SIKHS FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Where such information about the aims, objectives and projects of the charity is also provided to potential donors, activity costs are apportioned be￿een fundraising and charitable activities on the basis of area of literature occupied by each activity. 2. Donations and legacies Unrestricted Restricted 2023 2022 Donations & gift aid recoverable 9,594 9,594 3770 9,594 9.594 3,770 3,770 Total 2022 3,770 3. Charitable activities Unrestricted Restricted 2023 2022 Grants Bank inlerest 23,565 17 23,582 248 248 248 248 Total 2021 17 23,565 23,582 4. Cost of raising funds Unrestricted Restricted 2023 2022 Event costs 82 82 411 411 493 2,084 2.084 493 Total 2022 2,084 2,084 5. Expenditure of charitable activitles Unrestrictsd Restricted 2023 2022 Printing costs Subscriplions Accountancy & professional fees Marketing Insurance Wages Miscellaneous IT & computer costs Bank charges 1,172 360 696 998 360 365 33 140 360 365 1,114 140 1,081 15,116 18 1,091 122 19,573 718 718 106 106 1,011 1,799 18,202 2,810 19,573 Total 2022 1371 CITY SIKHS FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 6. Trustee remuneration and expenses No trustee or other person related the the charity had any personal interest in any contract or transaction entered into by the charity during the year12022.' Nill. The trustees received £Nil for expenses incurred. 7. Debtors 2023 2022 Other debtors 696 696 8. Creditors 2023 2022 Accruals 220 220 604 604 9. Analysis of net assets between funds General funds Restricted Total funds funds 2023 Current assets Current liabilities 19,844 1220) 19,624 16,822 36,666 {220 36,446 16,822 10. Movements in funds At 1 January Incoming 2023 resources Outgoing resources At 31 December 2023 Transfers Restricted funds: NHSBT grant NHSBT Communily Engai NHSBT Kidney AWA Grant Total restricted funds 1,998 2,087 5,115 1,129 10,329 1,998 1,006 5,115 1,081 1,129 2,210 8,119 General fund 19,578 9,842 1,093 28,327 Total unrestricted funds 19,578 9,842 1,093 28,327 Total funds 11. Number of staff From 2023'.1, there was one employee for the organisation12022.' One) No staff earned over £60,000 per annum 12. Going Concern The charity is operating on a going concem basis 13. Related Parties There were no related party transactions during the year. ## **Trustees’ Annual Report for the period** **From** 01/01/2023 **Period start date To** 31/12/2023 **Period end date** **Charity name:** City Sikhs Foundation **Charity registration number:** 1160843 ## **Objectives and Activities** **----- Start of picture text -----**
SORP reference
Summary of the purposes of Para 1.17 To promote the following charitable
the charity as set out in its purposes for the benefit of the public and in
governing document particular for members of the Sikh and
South Asian communities in Britain and
around the world by providing them with
support and assistance in the following:
A. Advancing education and in particular
the development of individual capabilities,
competencies and skills needed to excel
within professional careers;
B. Promoting religious and racial harmony
by raising awareness and understanding of
Sikh and South Asian religious beliefs,
culture and heritage;
C. Promoting equality and diversity by
enabling people of Sikh and South Asian
heritage to understand the religious beliefs
of others and vice versa;
D. Advancing community capacity building
by developing the capacity and skills of
members of the Sikh and South Asian
community
in such a way that they are better able to
identify, and help meet, their needs and to
participate more fully in society;
E. Advancing citizenship and community
development through the promotion of
volunteering and the voluntary sector;
F. The promotion of the moral or spiritual
welfare or improvement of the community;
Summary of the main Para 1.17 and Brief summary of activities:
1.19
activities in relation to those
purposes for the public Panel discussion events:

benefit, in particular, the 4 DEI events in parliament to exploring
activities, projects or inspirational journeys of women
services identified in the shaping careers, businesses and
accounts. society aligned with global events
including International Women's Day,
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|||South Asian Heritage Month and Black
History Month.

Supporting the latest edition of the
British Sikh Report launches in London,
Midlands and the North.
Cultural events:

First Vaisakhi at the Guildhall in
collaboration with the City of London
Corporation.
Mentoring:

Running a 9 month mentoring scheme
to support professionals in their
careers.
Interfaith work:

Representation of the Sikh community
at the Faith Forum for London.

Recognised for DEI parliamentary
series at the Faith and Belief
Community Awards.| |---|---|---| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|The Trustees confirm that they have had
regard to the Charity Commission’s public
benefit guidance where relevant.| **Additional information (optional)** You may choose to include further statements where relevant about: ||SORP reference|| |---|---|---| |Policy on grant making|Para 1.38|n/a| |Policy on social investment
including program related
investment|Para 1.38|n/a| |Contribution made by
volunteers|Para 1.38|
Supporting City Sikhs events and the
career mentoring programme.| |Other||| ## **Achievements and Performance** SORP reference Summary of the main Para 1.20 achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. **Additional information (optional)** You may choose to include further statements where relevant about: |Achievements against
objectives set|Para 1.41|| |---|---|---| |Performance of fundraising
activities against objectives
set|Para 1.41|| |Investment performance
against objectives|Para 1.41|| |Other||| ## **Financial Review** Review of the charity’s Para 1.21 financial position at the end of the period Statement explaining the Para 1.22 policy for holding reserves stating why they are held Amount of reserves held Para 1.22 Reasons for holding zero Para 1.22 reserves Details of fund materially in Para 1.24 deficit Explanation of any Para 1.23 uncertainties about the charity continuing as a going concern ## **Additional information (optional)** You may choose to include further statements where relevant about: |**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:| |---|---|---| |||| |The charity’s principal
sources of funds (including
any fundraising)|Para 1.47|| |Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|| |A description of the principal
risks facing the charity|Para 1.46|| |Other||| ## **Structure, Governance and Management** |Description of charity’s
trusts:||| |---|---|---| |Type of governing document
(trust deed, royal charter)|Para 1.25|| |How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|CIO| |Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|| ## **Additional information (optional)** You may choose to include further statements where relevant about: |**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:| |---|---|---| |||| |Policies and procedures
adopted for the induction
and training of trustees|Para 1.51|| |The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51|
4 Trustees

Advisory board and volunteer
ambassadors| |Relationship with any
related parties|Para 1.51|
None| |Other||| ## **Reference and Administrative details** **----- Start of picture text -----**
Charity name City Sikhs Foundation
Other name the charity uses City Sikhs
Registered charity number 1160843
Charity’s principal address c/o City Sikhs Foundation
77-79 Charlotte Street
London
W1T 4PW
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**Names of the charity trustees who manage the charity** **----- Start of picture text -----**
Dates acted if not for whole Name of person (or body) entitled
Trustee name Office (if any)
year to appoint trustee (if any)
1 Jasvir Singh Co-Chair Since Oct 2010 Jasvir Singh
2 Param Singh Co-Chair Since Oct 2010 Param Singh
3 Harpreet Virdee Treasurer Since Oct 2017 Harpreet Virdee
4 Meeno Chawla Oct 2021 Meeno Chawla
5
6
7
8
9
10
11
12
13
14
15
16
17
18
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Corporate trustees – names of the directors at the date the report was approved **Director name** Name of trustees holding title to property belonging to the charity **Trustee name Dates acted if not for whole year** ## **Funds held as custodian trustees on behalf of others** Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets ## **Additional information (optional)** ## **Names and addresses of advisers (Optional information)** **Type of Name Address adviser** **Name of chief executive or names of senior staff members (Optional information)** ## **Exemptions from disclosure** Reason for non-disclosure of key personnel details ## **Other optional information** ## **Declarations** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** **Signature(s)** _Jasvir Singh_ **Full name(s)** Jasvir Singh **Position (eg Secretary,** Co-Chair **Chair, etc) Date** 26/10/2024