## **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
______ _____
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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
______
______
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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: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - income from grants and contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and return if unspent, in which case it may be regarded as restricted. 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: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. 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**