Jet Singh Trrtst Charitable Incorporated Organisation Charity Number . 1173535 ANNUAL REPORT AND FINANCIAL STATEMENTS Period of accounts Start Date 1st April 2023 End Date 31" March 2024 Womboui'ne House l Heatlin7illRoad ! Wombourne ,' VVV5 8BD info@jeÉsinghtrLlSt.org wwiv.jeLBiiightrust.org
TRUSTEES REPORT History of Jet Singh Trust The Trust was set up in memory of Wolverhampton born Jatinder Singh Chatha (1983 - 2016), affectionately known as Jet. Jet was an accomplished wrestler who competed on the intemational stage. He was a skilful fitness trainer with an outstanding passion for coaching people to good health. His untimely passing in 2016 was to mark the inception of the charity in his name. AIMS and OBJECTIVES Our aim is to galvanise people to join together to improve their physical, mental and social health, while simultaneously fundraising for a diverse range of worthy causes. Community spirit forms the bedrock of the Trust. KHALSA SEVA CHARITABLE TRUST On an international scale, Jet Singh Trust has decided to help support on a long term basis - Khalsa Seva Charitable Trust. Khalsa Seva is a non profit making organisation based in New Batala Colony, Batala Jalandhar Road, Puiijab, India. Their mission statement is 'Lifting the vulnerable out of poverty,. We currently sponsor 60 orphaned children in their orphanage. SERVE HUMANITY SERVE GOD They are a charity in Chandiarh India that help spinal chord patients. We are in regular contact with Swaranjeet Singh (president) who provides us with updates on how our donations are being spent and also investigates appeals of help. We share their video updates with our regular donors via social media channels. We have been able to donate to them and the construction of their third purpose built Spinal Chord Hospital in Chandigarh, India. Patients are able to access completely free treatment and rehabilitation here. Benches of Hope We have been awarded a Spa at Euston Ststion London to plant a Bench of Hope, we hope to secure more prominent locations to plant further benches in the Hope we are able to signpost vulnerable people to seek help. STRUCTURE, GOVERNANCE AND MANAGEMENT Type of governing document How the charity is constituted Trustee selection methods meeting of charity trustees Constitution Association Appointed by a resolution passed at a
TRUSTEES Davinder Singh Chatha Harvinder Singh Chatha Narinderiit Kaur Mahal Daniel Paul Chandip Bal Amritpal Singh Chatha
JET SINGH TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charity No. 1173535
JET SINGH TRUST INDEX Page LEGAL AND ADMINISTRATIVE INFORMATION REPORT OF THE INDEPENDENT EXAMINER STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEET ACCOUNTING POLICIES NOTES TO THE FINANCIAL STATEMENTS
JET SINGH TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees D S Chatha A Chatha H Chatha N Mahal CBal D Paul Reglstered Offlce: Foley House, Heath Mill Road, Wombourne, Wolverhampton, WV5 8AP Bankers: Lloyds Bank PLC, 12 Swan Street, Warwick, Warwickshire, CV34 4BJ Accountants: UHY Hacker Young IBirmingham} LLP, 9- 11 Vittoria Street, Birmingham, Bl 3ND
JET SINGH TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES Respectlve Responsibilities of Trustees and Examiner The trustees (who are also the director5 of the company for the purposes of company lawl 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 of the Charities Act 2011 (the Charities Act} and that an independent examination is needed. It is our responsibility to: examine the accounts under section 145 of the Charities Act, to follow the procedures laid down in the general Directions given by the Charity Commission (under section 14515)Ib} of the Charities Act, and to state whether particular matters have come to my attention. Basls of Independent examlnerfs statement Our examination was carried out in accordance with general Directions given by the Charity Commission. 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 consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fairf view and the report is limited to those matters set out in the statement below. Independent examlnerfs statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting record5 were not kept in respect of the charity 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 concerning the form and content of accounts set out in the Charitles (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 examinatlon. Malcolm Winston 16 January 2025 Relevant professional qualification and body: FCCA - Qualified Accountant UHY Hacker Young (Birmingham) LLP 9-11 Vittoria Street Birmingham BI 3ND
JET SINGH TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Restricted Unrestricted Restricted Fixed Asset Funds Funds Funds 2024 2023 Note INCOMING RESOURCES Incoming resources from generated funds Voluntary Income Donations Donations (Chatha Family Donations) Unrestricted Grants Investment Income 92,900 23,399 118,807 30,350 92,900 23,399 Income for Charltable Activities Restricted Grants 10,000 10,000 126,299 149,157 TOTAL INCOMING RESOURCES 116,299 10,000 RESOURCES EXPENDED Charltable Actlvitles Charitable Activities Premises and Running Costs 118,795 18,330 118,795 21,396 118,718 22,941 io 3,066 140,191 141,659 TOTAL RESOURCES EXPENDED 137,125 3,066 7,498 NET INCOMINGI(OUTGOING RESOURCES) 120,826) 10,000 13,066) 113,892) Transfers between Funds 1,000 (1,000) NET MOVEMENT IN FUNDS (19,826) 10,000 {4,066) (13,892) 7,498 284,157 276,659 Fund Balances brought forward 197,690 75,605 10,862 284,157 FUND BALANCES CARRIED FORWARD 177.864 85,605 6,796 270,265
JET SINGH TRUST BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note FIXED ASSETS Tangible Assets 6,796 10,862 CURRENT ASSETS Debtors Cash at Bank and in Hand 1,028 264,601 265,629 3,879 271,456 275,335 LIABILITIES Amounts due within one year 2,160 2,040 273,295 NET CURRENT ASSETS 263,469 TOTAL ASSETS LESS CURRENT LIABILITIES 270,265 284,157 FUNDS Unrestricted Funds Restricted Funds 177,864 92,401 197,690 86,467 270,265 284,157 TOTAL FUNDS The financial statements on pages 3 to 9 were approved by the trustees and authorised for issue on 16 January 2025 signed on their behalf by: Name: Narlnderjit Mahal Signed:
JET SINGH TRUST ACCOUNTING POLICIES FOR THE YEAR ENDED 31 MARCH 2024 Basls of Preparatlon 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 l January 20191- Charities SORP {FRS 1021, the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Charities Act 2011. Going Concern The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The trustee5 make this assessment in respect of a period of one year from the date of approval of the f inancial statements. Grants Grants receivable are credited to income in the year to which they relate. Tanglble Flxed Assets Assets costing £500 or more are capitalised as tangible fixed assets and are carried at cost, net of depreciation and any provision for impairment. Where tangible fixed assets have been acquired with the aid of specific grants, either from the government or from the private sector, they are included in the Balance Sheet at cost and depreciated over their expected useful economic life. Where there are specific conditions attached to the funding requiring the continued use of the asset, the related grants are credited to a restricted fixed asset fund in the Statement of Financial Activities and carried forward in the Balance Sheet. Depreciation on the relevant assets is charged directly to the restricted fixed asset fund in the Statement of Financial Activities, Where tangible fixed assets have been acqulred with unrestricted funds, depreciation on such assets is charged to the unrestricted fund. Depreciation is provided on a straight line basis (except for motor vehicles which is on a reducing balance basis) on the cost of tan8ible fixed assets, to write them down to their estimated residual values over their expected useful lives, The principal annual rates used for assets are., 25Yo io% Motor Vehicle5 Fixtures & Fittings
JET SINGH TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 I TANGIBLE FIXED ASSETS Fixtures & Fittings Motor Vehicles Total 2024 Cost At l April 2023 Additions Disposals At 31 March 2024 6,400 23,450 29,850 {4,250) 19,200 (4,250} 25,600 6,400 Depreclatlon At l April 2023 Charged in year Disposals At 31 March 2024 1,669 640 17,319 903 11,7271 16,495 18,988 1,543 (1,727) 18.804 2,309 Net book value At l April 2023 At 31 March 2024 4,731 4,091 6,131 2,705 10,862 6.796 2024 2023 DEBTORS Prepayments Accrued Income 870 379 3,500 3,879 158 1,028 LIABILITIES Amounts due within one year: Accruals 2024 2023 2,160 2,160 2,040 2,040 FUNDS Restricted Restricted Fixed Assets Unrestricted At l April 2023 Surplus for year Transfers between funds 197,690 120,8261 1,000 75,605 10,000 10,862 13,0661 (1,0001 At 31st March 2024 177,864 85,605 6,796 Funds are designated as follows: General Unrestricted Reserves General Restricted Reserves Fixed Asset Reserves 177,864 85,605 6,796 177,864 85,605 6,796
JET SINGH TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 FUNDS {CONT'D) The Charity is carrying funds of £270,265 (2023: £284,157}. £177,86412022: £177,863) is general unrestricted reserves, £85,60512023 £75,605) is general restricted reserves and £6,79612022: £10,861) is restricted fixed a55ets reserves. Restricted Restrirted Fixed Assets Unrestricted Analysis of Net Assets Net Current Assets Fixed Assets 177,864 85,605 6,796 6,796 177,864 85,605 2024 2023 DONATIONS Donations (See Note 121 Unrestricted Restricted 149,157 75,605 149.157 116,299 116,299 FUNDING FOR TRUST'S CHARITABLE ACTIVITIES Grants {See Note 13) Unrestricted Restricted 2024 2023 10,000 10,000 2024 2023 INVESTMENT INCOME Bank Interest 2024 2023 STAFF COSTS Wages & Salaries (Note 10) Social Security Costs 1,320 1,320 No employee earned £60,000 p.a. or more The average number of employees was: NIL Management & Administration
JET SINGH TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted 2024 2023 RESOURCES EXPENDED Charitable Expendlture Grants to other Charities Charitable Activities 92,758 25,960 118,718 102,501 16,294 118,795 102,501 16,294 118,795 Unrestrlcted Restrlcted 2024 2023 10 RESOURCES EXPENDED Management & Adminlstration Staff Costs Governance Costs (See Note 111 Payroll costs Motor & Travelling Expenses Depreciation - Vehicles Depreciation - Fixtures & Fittings Profit & Loss on Disposal Insurance Advertising and Marketing Printing, Postage and Stationerv Rent and Rates Repairs and Renewals Bank Charges Computer Costs Sundry Expense 1,320 2,040 306 329 2,042 640 2,160 2,160 363 363 902 640 1,524 977 540 722 11,941 902 640 1,524 977 540 722 11,941 1,835 176 13,404 270 1,297 59 18,330 270 1,297 59 21,396 240 609 3,066 22,941 2024 2023 11 GOVERNANCE COSTS Fees paid to Independent Examiner 2,040 2,040 2,160 2,160 Unrestricted Restricted 2024 2023 12 DONATIONS Other Donations from the Public Other Donations from the Trustees 118,807 30,350 149,157 92,900 23,399 116,299 92,900 23,399 116,299
JET SINGH TRUST NOTESTO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted 2024 2023 13 FUNDING FOR TRUST'S CHARITABLE ACTIVITIES Other Government Grants National Lottery 10,000 10,000 10,000 10,000 14 TRUSTEES REMUNERATION & EXPENSES No remuneration or expenses were paid to trustees during the year. 15 RELATED PARTY TRANSACTIONS Davinder Chatha is a trustee of Jet Singh Trust. During the year, Oavinder Chatha, members of the Chatha Family, and other trustees, made personal donations to Jet Singh Trust totalling £23,399 12023: £30,350} to cover management and administrative costs of running the charity.
JET SINGH TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charity No. 1173535
JET SINGH TRUST INDEX Page LEGAL AND ADMINISTRATIVE INFORMATION REPORT OF THE INDEPENDENT EXAMINER STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEET ACCOUNTING POLICIES NOTES TO THE FINANCIAL STATEMENTS
JET SINGH TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees D S Chatha A Chatha H Chatha N Mahal CBal D Paul Reglstered Offlce: Foley House, Heath Mill Road, Wombourne, Wolverhampton, WV5 8AP Bankers: Lloyds Bank PLC, 12 Swan Street, Warwick, Warwickshire, CV34 4BJ Accountants: UHY Hacker Young IBirmingham} LLP, 9- 11 Vittoria Street, Birmingham, Bl 3ND
JET SINGH TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES Respectlve Responsibilities of Trustees and Examiner The trustees (who are also the director5 of the company for the purposes of company lawl 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 of the Charities Act 2011 (the Charities Act} and that an independent examination is needed. It is our responsibility to: examine the accounts under section 145 of the Charities Act, to follow the procedures laid down in the general Directions given by the Charity Commission (under section 14515)Ib} of the Charities Act, and to state whether particular matters have come to my attention. Basls of Independent examlnerfs statement Our examination was carried out in accordance with general Directions given by the Charity Commission. 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 consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fairf view and the report is limited to those matters set out in the statement below. Independent examlnerfs statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting record5 were not kept in respect of the charity 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 concerning the form and content of accounts set out in the Charitles (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 examinatlon. Malcolm Winston 16 January 2025 Relevant professional qualification and body: FCCA - Qualified Accountant UHY Hacker Young (Birmingham) LLP 9-11 Vittoria Street Birmingham BI 3ND
JET SINGH TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Restricted Unrestricted Restricted Fixed Asset Funds Funds Funds 2024 2023 Note INCOMING RESOURCES Incoming resources from generated funds Voluntary Income Donations Donations (Chatha Family Donations) Unrestricted Grants Investment Income 92,900 23,399 118,807 30,350 92,900 23,399 Income for Charltable Activities Restricted Grants 10,000 10,000 126,299 149,157 TOTAL INCOMING RESOURCES 116,299 10,000 RESOURCES EXPENDED Charltable Actlvitles Charitable Activities Premises and Running Costs 118,795 18,330 118,795 21,396 118,718 22,941 io 3,066 140,191 141,659 TOTAL RESOURCES EXPENDED 137,125 3,066 7,498 NET INCOMINGI(OUTGOING RESOURCES) 120,826) 10,000 13,066) 113,892) Transfers between Funds 1,000 (1,000) NET MOVEMENT IN FUNDS (19,826) 10,000 {4,066) (13,892) 7,498 284,157 276,659 Fund Balances brought forward 197,690 75,605 10,862 284,157 FUND BALANCES CARRIED FORWARD 177.864 85,605 6,796 270,265
JET SINGH TRUST BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note FIXED ASSETS Tangible Assets 6,796 10,862 CURRENT ASSETS Debtors Cash at Bank and in Hand 1,028 264,601 265,629 3,879 271,456 275,335 LIABILITIES Amounts due within one year 2,160 2,040 273,295 NET CURRENT ASSETS 263,469 TOTAL ASSETS LESS CURRENT LIABILITIES 270,265 284,157 FUNDS Unrestricted Funds Restricted Funds 177,864 92,401 197,690 86,467 270,265 284,157 TOTAL FUNDS The financial statements on pages 3 to 9 were approved by the trustees and authorised for issue on 16 January 2025 signed on their behalf by: Name: Narlnderjit Mahal Signed:
JET SINGH TRUST ACCOUNTING POLICIES FOR THE YEAR ENDED 31 MARCH 2024 Basls of Preparatlon 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 l January 20191- Charities SORP {FRS 1021, the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Charities Act 2011. Going Concern The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The trustee5 make this assessment in respect of a period of one year from the date of approval of the f inancial statements. Grants Grants receivable are credited to income in the year to which they relate. Tanglble Flxed Assets Assets costing £500 or more are capitalised as tangible fixed assets and are carried at cost, net of depreciation and any provision for impairment. Where tangible fixed assets have been acquired with the aid of specific grants, either from the government or from the private sector, they are included in the Balance Sheet at cost and depreciated over their expected useful economic life. Where there are specific conditions attached to the funding requiring the continued use of the asset, the related grants are credited to a restricted fixed asset fund in the Statement of Financial Activities and carried forward in the Balance Sheet. Depreciation on the relevant assets is charged directly to the restricted fixed asset fund in the Statement of Financial Activities, Where tangible fixed assets have been acqulred with unrestricted funds, depreciation on such assets is charged to the unrestricted fund. Depreciation is provided on a straight line basis (except for motor vehicles which is on a reducing balance basis) on the cost of tan8ible fixed assets, to write them down to their estimated residual values over their expected useful lives, The principal annual rates used for assets are., 25Yo io% Motor Vehicle5 Fixtures & Fittings
JET SINGH TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 I TANGIBLE FIXED ASSETS Fixtures & Fittings Motor Vehicles Total 2024 Cost At l April 2023 Additions Disposals At 31 March 2024 6,400 23,450 29,850 {4,250) 19,200 (4,250} 25,600 6,400 Depreclatlon At l April 2023 Charged in year Disposals At 31 March 2024 1,669 640 17,319 903 11,7271 16,495 18,988 1,543 (1,727) 18.804 2,309 Net book value At l April 2023 At 31 March 2024 4,731 4,091 6,131 2,705 10,862 6.796 2024 2023 DEBTORS Prepayments Accrued Income 870 379 3,500 3,879 158 1,028 LIABILITIES Amounts due within one year: Accruals 2024 2023 2,160 2,160 2,040 2,040 FUNDS Restricted Restricted Fixed Assets Unrestricted At l April 2023 Surplus for year Transfers between funds 197,690 120,8261 1,000 75,605 10,000 10,862 13,0661 (1,0001 At 31st March 2024 177,864 85,605 6,796 Funds are designated as follows: General Unrestricted Reserves General Restricted Reserves Fixed Asset Reserves 177,864 85,605 6,796 177,864 85,605 6,796
JET SINGH TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 FUNDS {CONT'D) The Charity is carrying funds of £270,265 (2023: £284,157}. £177,86412022: £177,863) is general unrestricted reserves, £85,60512023 £75,605) is general restricted reserves and £6,79612022: £10,861) is restricted fixed a55ets reserves. Restricted Restrirted Fixed Assets Unrestricted Analysis of Net Assets Net Current Assets Fixed Assets 177,864 85,605 6,796 6,796 177,864 85,605 2024 2023 DONATIONS Donations (See Note 121 Unrestricted Restricted 149,157 75,605 149.157 116,299 116,299 FUNDING FOR TRUST'S CHARITABLE ACTIVITIES Grants {See Note 13) Unrestricted Restricted 2024 2023 10,000 10,000 2024 2023 INVESTMENT INCOME Bank Interest 2024 2023 STAFF COSTS Wages & Salaries (Note 10) Social Security Costs 1,320 1,320 No employee earned £60,000 p.a. or more The average number of employees was: NIL Management & Administration
JET SINGH TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted 2024 2023 RESOURCES EXPENDED Charitable Expendlture Grants to other Charities Charitable Activities 92,758 25,960 118,718 102,501 16,294 118,795 102,501 16,294 118,795 Unrestrlcted Restrlcted 2024 2023 10 RESOURCES EXPENDED Management & Adminlstration Staff Costs Governance Costs (See Note 111 Payroll costs Motor & Travelling Expenses Depreciation - Vehicles Depreciation - Fixtures & Fittings Profit & Loss on Disposal Insurance Advertising and Marketing Printing, Postage and Stationerv Rent and Rates Repairs and Renewals Bank Charges Computer Costs Sundry Expense 1,320 2,040 306 329 2,042 640 2,160 2,160 363 363 902 640 1,524 977 540 722 11,941 902 640 1,524 977 540 722 11,941 1,835 176 13,404 270 1,297 59 18,330 270 1,297 59 21,396 240 609 3,066 22,941 2024 2023 11 GOVERNANCE COSTS Fees paid to Independent Examiner 2,040 2,040 2,160 2,160 Unrestricted Restricted 2024 2023 12 DONATIONS Other Donations from the Public Other Donations from the Trustees 118,807 30,350 149,157 92,900 23,399 116,299 92,900 23,399 116,299
JET SINGH TRUST NOTESTO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted 2024 2023 13 FUNDING FOR TRUST'S CHARITABLE ACTIVITIES Other Government Grants National Lottery 10,000 10,000 10,000 10,000 14 TRUSTEES REMUNERATION & EXPENSES No remuneration or expenses were paid to trustees during the year. 15 RELATED PARTY TRANSACTIONS Davinder Chatha is a trustee of Jet Singh Trust. During the year, Oavinder Chatha, members of the Chatha Family, and other trustees, made personal donations to Jet Singh Trust totalling £23,399 12023: £30,350} to cover management and administrative costs of running the charity.