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2023-06-30-accounts

SATPAT LTD

Company Registration Number: 9655972 (England and Wales)

REPORT OF THE DIRECTORS AND UNAUDITED FINANCIAL STATEMENTS

Period of Accounts Start date: 01 July 2022 End date: 30 June 2023

SATPAT LTD

CONTENTS OF THE FINANCIAL STATEMENTS

for the period ended 30 June 2023

Company Information page 3 Statutory Report of the Directors page 4 Income and Expenditure page 5 Balance Sheet page 6 and 7 Notes to the Financial Statements page 8 and 9

page 1 SATPAT LTD

COMPANY INFORMATION

for the period ended 30 June 2023

Directors: SPS Chadha P Conlon Registered Office: Flat 9 Central Park Lodge 54-58 Bolsover Street London W1W 5NQ Company Registration Number: 9655972 (England and Wales) Charity Number: 1166603

Page 3

SATPAT LTD

Directors’ Report

Period ended 30 June 2023

The directors present their report with the financial statements of the company for the period ended 30 June 2023

Directors

The Directors shown below have held office during the whole of the period from

01 July 2022 to 30 June 2023

SPS Chadha

P Conlon

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006.

Objects of the Charity

The objects of the charity is for the advancement of education of poor children living in India, and other countries as the trustees see fit, including but not limited to, the provision of grants and scholarships to educational institutions or individuals as the trustees see fit.

This report was approved by the Board of Directors on 30 January 2024 and signed on behalf of the Board by:

Name: SPS Chadha

Status: Director

Page 4

SATPAT LTD

INCOME AND EXPENDITURE ACCOUNT

for the period ended 30 June 2023

2023 2022
£ £
Income 187,075
59,568
Direct Costs 0 56,679
______ ______
Gross Surplus 187,085
2,889
______ ______
Administrative Expenses 131,978
29,952
______ ______
Surplus of income
Over Expenditure/ 55,097
<27,063>
______ ______
All those shown are unrestricted income and expenditure.

Page 5

SATPAT LTD

BALANCE SHEET

as at 30 June 2023

----- Start of picture text -----
2023 2022
£ £
Fixed Assets 0 0
_

Current Assets
Debtors 43,666 37,500
Cash at bank and in hand 1,023 1,672
Total Current Assets 44,689
39,172

Liabilities 0 0
Net Current Assets 44,689 39,172


Total assets less current liabilities 44,689 39,172


Total Net Assets 44,689 39,172
 __
----- End of picture text -----

These notes form part of these financial statements

Page 6

SATPAT LTD

BALANCE SHEET continued

as at 30 June 2023

----- Start of picture text -----
2023 2022
£ £
Capital and Reserves
Long Term Creditors 0 49,580
__ _
Unrestricted Reserves Brought forward 10,408
16,655
Surplus Income over Expenditure 55,097 27,063
Balance carried forward 0 <10,408>
Total Capital and Reserves 44,689 39,172

___
----- End of picture text -----

For the year ending 30 June 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 Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors on 30 January 2024.

Signed on behalf of the Board by:

Name: SPS Chadha

Status: Director

Page 7

These notes form part of these financial statements

SATPAT LTD

NOTES TO THE FINANCIAL STATEMENTS

for the period ended 30 June 2023

Accounting Policies

Basis of Preparation

The Financial Statements have been prepared on the historical cost basis.

The Financial Statements are prepared in sterling, which is the functional currency of the entity.

Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity’s purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal.

Income

All income is included in the statement of Financial Activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Page 8

SATPAT LTD

NOTES TO THE FINANCIAL STATEMENTS - continued

for the period ended 30 June 2023

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the Statement of Financial Activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Financial 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 including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current Assets and Current Liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Page 9

Trustees’ Annual Report for the period

From 1/7/23 Period start date To 30/6/23 Period end date

Charity name: Satpat Ltd

Charity registration number: 1166603

Objectives and Activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 To provide an education to poor
children in India
Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.		 Para 1.17 and
1.19		 Charity has been organising free tutorial
classes for poor students to upgrade
their knowledge and also
contribute/wholly pay to the school fees
of students who would not continue
their studies otherwise due to
unaffordability
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit		 Para 1.18 Trustees follow the guidance issued by
the charity commission on public
benefit

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 Para 1.38 N/a
volunteers
Other N/a

Achievements and Performance

SORP reference
Summary of the main
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.		 Para 1.20 The charity is providing free tutorials to
economically weak students. Besides
this, the charity also paid the fees of
students to their schools as their
parents could not pay due to the recent
pandemic and / or economic hardship.
The charity provides continuity of
education and aims to motivate children
to “learn to share”. This will benefit the
wider society in a longer term.

Additional information (optional) You may choose to include further statements where relevant about:


Achievements against
objectives set
Para 1.41
N/a
Performance of fundraising
activities against objectives
set		 Para 1.41 N/a
Investment performance
against objectives		 Para 1.41 N/a
Other N/a

Financial Review

Financial Review
Review of the charity’s
financial position at the end
of the period		 Para 1.21 The charity is in a strong position as the
trustees are not setting unrealistic
targets, nor are they promising any
unrealistic commitments.
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22 Reserves are held so that the continuity
of the project is maintained.
Amount of reserves held Para 1.22 £44,689
Reasons for holding zero
reserves		 Para 1.22 N/a
Details of fund materially in
deficit		 Para 1.24 N/a
Explanation of any
uncertainties about the
charity continuing as a going
concern		 Para 1.23 N/a

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
N/a
Investment policy and
objectives including any
social investment policy
adopted		 Para 1.46 N/a
A description of the principal
risks facing the charity		 Para 1.46 N/a
Other N/a

Structure, Governance and Management

Description of charity’s
trusts:		 Trust Deed
Type of governing document
(trust deed, royal charter)		 Para 1.25 Incorporated as a company in England
and Wales
How is the charity
constituted?
(e.g unincorporated
association, CIO)		 Para 1.25 Limited company.
CRN: 09655972
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 The two trustees discussed the concept,
agreed the structure and investment
required and registered the company
and formed the charity.

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
N/a
The charity’s organisational
structure and any wider
network with which the
charity works		 Para 1.51 N/a
Relationship with any related
parties		 Para 1.51 N/a
Other N/a

Reference and Administrative details

Charity name Satpat Ltd
Other name the charity uses Via Satinder Pal Singh Chadha (for disbursing funds to
schools and teachers in India)
Registered charity number 1166603
Charity’s principal address Flat 9
Central Park Lodge
54-58 Bolsover Street
London
W1W 5NQ

Names of the charity trustees who manage the charity

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20		 Trustee name Office (if any) Dates acted if not for whole
year		 Name of person (or body) entitled
to appoint trustee (ifany)
Satinder Pal Singh
Chadha		 Chairperson N/a Satpat Ltd
Patricia Conlon
Chadha		 Trustee N/a SatpatLtd

– Corporate trustees names of the directors at the date the report was approved

Director name N/a N/a

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year
N/a
N/a

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity N/a Name and objects of the charity on whose behalf the N/a assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and N/a 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

Nil

Other optional information

Nil

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)

Full name(s)

Position (eg Secretary, Chair, etc)

Date