Registered Charity No. (England and Wales): 1173889
Ajvir Singh Sandhu Leadership Foundation
## Report and Accounts
31 July 2025
## **AJVIR SINGH SANDHU LEADERSHIP FOUNDATION**
## **Index to the financial statements**
## **Year ended 31 July 2025**
||**CONTENTS**|**PAGE**||
|---|---|---|---|
||Legal and Administrative Information||3|
||Report of the Trustees|4 -|6|
||Report of Independent Examiner||7|
||Statement of Financial Activities||8|
||Balance Sheet||9|
||Statement of Cash Flows|10||
||Notes to the Financial Statements|11 - 13||
|.||||
2
## **AJVIR SINGH SANDHU LEADERSHIP FOUNDATION**
## **Legal and Administrative Information**
## **Year ended 31 July 2025**
|Registered Charity Number|1173889|
|---|---|
|Business Address|Rivja|
||Mott Street|
||Loughton|
||IG10 4AP|
|Trustees|Amrik Singh Sandhu|
||Narinderjit Sandhu|
||Sabinder Robinson-Sandhu|
||Kalvir Kaur Cheema|
|Bankers|Coutts & Co|
||440 Strand|
||London|
||WC2R 0QS|
|Investment Advisors|Quilter Cheviot|
||One Kingsway|
||London|
||WC2B 6AN|
|Investment Advisors|Coutts & Co|
||440 Strand|
||London|
||WC2R 0QS|
3
## **REPORT OF THE TRUSTEES**
## **TO THE MEMBERS OF**
## **AJVIR SINGH SANDHU LEADERSHIP FOUNDATION**
The trustees present their report together with the financial statements of the Ajvir Singh Sandhu Leadership Foundation (ASSLF) for the year ended 31 July 2025.
## **Structure, Governance and Management**
## Governing Document
ASSLF is constituted as an unincorporated charity, established by a written constitution. The governing document of the charity is the written constitution approved by the members and endorsed by the Charity Commission in England and Wales (CCEW).
There are no restrictions in the governing documents on the operations of the Charity or on its investment powers, other than those imposed by Charity Law.
## Appointment of trustees
New trustees are invited to join the board and are subject to a rigorous written application process. Their specific role and tasks are agreed at board meetings.
## Organisation
The board of trustees administers the charity.
## Risk management
The trustees continue to carry out an analysis of the risks faced by the organisation.
## **Objectives, Activities and Future Plans**
The Foundation works to recognise passion, commitment and outstanding dedication in young people across various fields. Resolving to help individuals achieve their full potential, the Foundation will reward, support and encourage young people who display skills which demonstrate the seeds of growth to become successful future leaders. The organisation welcomes individuals aged 11 - 25 who excel in sport, music, academics and military disciplines with the primary aim being to further develop and create more opportunities for these promising individuals. Through financial aid and access to support networks the Foundation is dedicated to supporting young people achieve their dreams.
The Foundation will reward, support and encourage young people who display leadership skills through:
- Mentoring
- Leadership training
- Military talks
- Support of local ATC activities
- Coaching
The Trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.
4
## **REPORT OF THE TRUSTEES Continued**
## **TO THE MEMBERS OF**
## **AJVIR SINGH SANDHU LEADERSHIP FOUNDATION**
## The contribution of volunteers during the period
The contribution of volunteers is highly valued. They provide support in the forms of fund-raising, providing leadership training, mentoring and military talks.
## Grant making policies
The objective is to distribute 3 - 7 % of the Foundation's assets generated by additional fund raising and investment returns. All grants will be made through recognised established youth organisations, including schools and universities.
## **Achievement and performance**
The Foundation has maintained its programs with Riverside school, mentoring cohorts across years 12 and 13. It continued its military connections by donating to the Bristol Glouchestershire Wing for Leadership Development fund.
The ambition to continue educational development and training for young leaders was facilitated through the Foundation's connections with ECF by supporting a young lady to attend Tring School of Performing Arts. We made a donation to support a Goalkeeping Accademy in South End enabling yountersters to harness thier skills in a safe environment. Our biggest donation was re-engaging with WBS on two programs. One was to provide suppport for Foundation Year students. The second was to provide a multi year Progression Bursary for a talented student selected by the university.
As well as regular one-off donations the Foundation held a successful fundraiser around Christmas.
## **Reserves Policy**
Capital growth and income from funds under management delivered a strong performace outperforming equity benchmarks. If at any time the assets slip below £400,000 the trustees should look for additional donations from family assets and other fund-raising activities.
## **Financial review**
This is the eighth year of operation. The restricted fund with Essex Community Foundation (ECF) continues to be administered by ECF and has distributed funds from income generated in line with our core values.
We raised £2,221 from events and received donations totalling £7,784 and investment income of £15,370.
## All funds are unrestricted.
Fund-raising activities have been very successul and raised sufficient funds to cover the operating costs of the Foundation.
Overviews of ASSLF finances, including detailed management reports, were provided to the directors and trustees throughout the year to give them better insight and understanding of the finances of the charity, which enabled them to make relevant decisions and to monitor the financial position of the charity.
5
## **REPORT OF THE TRUSTEES Continued**
## **TO THE MEMBERS OF**
## **AJVIR SINGH SANDHU LEADERSHIP FOUNDATION**
## **Investment Policy and Investment Objectives**
The trustees require the fund managers to operate a diversified portfolio with a range of asset classes and a bias towards growth assets. The investments should be controlled through effective portfolio structure and diversification and target returns close to those available from UK and international equity markets but with lower level of risk.
## **Trustees' responsibilities in relation to the financial statements**
The trustees are required by charity legislation to prepare a financial statement for each year which gives a true and fair view of the financial activities of the charity and its financial position for that period. In doing so the trustees are required to:
- Select suitable accounting policies and apply them consistently through the year;
- Make sound judgements and estimates that are reasonable and prudent;
- State whether the policies adopted are in accordance with applicable accounting standards and statement of recommended practice, subject to any material departures disclosed and explained in the financial statements;
- Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.
## **Approval**
This report was approved by the Board of Trustees on 20 May 2026
By order of the trustees:
## _**A Sandhu**_
Amrik Sandhu (May 22, 2026 15:17:06 GMT+1)
Amrik Sandhu
6
**Ajvir Singh Sandhu Leadership Foundation**
**Registered Charity Number 1173889**
## **Independent Examiner's Report**
I report to the trustees on my examination of the accounts of the above charity (“the Foundation”) for the year ended 31 July 2025.
## **Respective responsibilities of trustees and examiner**
As the Foundation's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Foundation’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
The Foundation’s gross income exceeded £25,000 and I am qualified to undertake the examination by being a qualified member of the Assocation of Certified Chartered Accountants.
## **Basis of independent examiner’s statement**
My 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 Foundation 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.
## **Independent Examniner's Statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination 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 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 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 accounts to be reached.
## _W H Smith - Independent Accountant_
## **Tall Horse Consultancy Services Ltd**
SBC House Restmor Way Wallington SM6 7AH
This report was signed on 18 May 2026
## **AJVIR SINGH SANDHU LEADERSHIP FOUNDATION**
## **Statement of Financial Activities**
_(Incorporating an income and expenditure account)_
## **Year ended 31 July 2025**
|**Note**
**Incoming resources**
**2**
Donations and legacies
Charitable activities
Investment income
**Total incoming resources**
**Resources expended**
**3**
Charitable activities
Governance costs
**Total resources expended**
**Net expenditure before gains on investments**
**Net gains on investments**
**Net movement in funds**
Fund balances brought forward
**Fund balances carried forward at 31 July 2024**
**7**|**2025**
**£**
7,784
2,221
15,370
25,375
30,917
384
31,301
(5,926)
41,784
35,858
646,423
**682,281**|**2024**
**£**
10,129
2,663
16,183|
|---|---|---|
|||28,975|
|||59,779
330|
|||60,109|
|||(31,134)
59,422|
|||28,288
618,135|
|||**646,423**|
All amounts relate to continuing activities. There are no recognised gains and losses other than those dealt with in the above Statement of Financial Activities.
The notes on pages 11 to 13 form an integral part of these financial statements.
8
## **AJVIR SINGH SANDHU LEADERSHIP FOUNDATION**
## **Balance Sheet**
## **31 July 2025**
|**Note**
**Fixed Assets**
Investments held as assets
**4**
**Current Assets**
Cash at bank and in hand
Creditors: Amounts falling due within one year
**5**
**Net Current Assets**
**Net Assets**
**The Funds of the Charity**
Unrestricted Funds
**Total Charity Funds**
**7**|**2025**
**2024**
**£**
**£**
**£**
**£**
680,085
638,301
2,580
8,698
2,580
8,698
384
576
2,196
8,122
**682,281**
**646,423**
682,281
646,423
**682,281**
**646,423**|**2025**
**2024**
**£**
**£**
**£**
**£**
680,085
638,301
2,580
8,698
2,580
8,698
384
576
2,196
8,122
**682,281**
**646,423**
682,281
646,423
**682,281**
**646,423**|
|---|---|---|
||||
|||**646,423**|
|||646,423|
|||**646,423**|
The trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.
The trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered it would be eligible to prepare accounts in accordance with the provisions in part 15 of the Companies Act 2006, applicable to companies subject to the small companies regime.
Approved by the Board of Trustees on 18 May 2026
## _**A Sandhu**_
Amrik Sandhu Amrik Sandhu (May 22, 2026 15:17:06 GMT+1) Trustee
The notes on pages 11 to 13 form an integral part of these financial statements.
9
## **AJVIR SINGH SANDHU LEADERSHIP FOUNDATION**
## **Statement of Cash Flows**
## **Year ended 31 July 2025**
|Net income for the period (per the statement of financial activities)
**Adjustments for:**
Net gains on investments
Investment income
Decrease in creditors
Net cash used by operating activities
**Cash flows from investing activities:**
Other investment income
Disposal of investments
Purchase of investments
Overall cash used in all activities
Cash and cash equivalents brought forward
**Cash and cash equivalents carried forward**|**2025**
**£**
35,858
(41,784)
(15,370)
(192)
(21,488)
15,370
-
-
(6,118)
8,698
2,580|**2024**
**£**
28,288
(59,422)
(16,183)
(54)|
|---|---|---|
|||(47,371)
16,183
50,902
(20,000)|
|||(286)
8,984|
|||8,698|
10
## **AJVIR SINGH SANDHU LEADERSHIP FOUNDATION**
## **Notes to the Financial Statements**
## **For the year ended 31 July 2025**
## **1. Accounting policies**
## **Basis of accounting**
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102 and UK Generally Accepted Accounting Practice as it applies from 1 January 2015. The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.
## **Income**
Income is recognised in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the donor or funder has specified that the income is to be expended in a future accounting period.
Income represents donations, grants and interest receivable. Grants subject to specific conditions are credited to relevant restricted funds.
Investment income is included in the accounts when it is receiveable.
Investment gains and losses include any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
## **Expenditure**
Expenditure is included in the statement of financial activities when incurred and includes attributable VAT which cannot be recovered.
Expenditure comprises the following:
- a. Charitable expenditure comprises expenditure on the charity’s primary charitable purposes.
- b. Governance costs comprise the costs associated with governance of the charity incurred in connection with the administration of the charity and compliance with institutional and statutory requirements. Included within this category are costs associated with the strategic as opposed to the day to day management of the charity's assets.
## **Investments**
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investments are included at trustees' best estimate of market value.
## **Fund accounting**
Unrestricted funds represent those monies which may be used towards meeting the charitable objectives of the charitable company at the discretion of the trustees.
Restricted funds are monies raised for, and their use restricted to, a specific purpose, or grants subject to donor imposed conditions.
11
## **AJVIR SINGH SANDHU LEADERSHIP FOUNDATION**
## **Notes to the Financial Statements Continued**
## **For the year ended 31 July 2025**
|**2. Incoming resources**
**Donations and legacies**
Donations and gifts from individuals
Donations from businesses
Total donations and legacies
**Other trading activities**
Income from fundraising events
**Total from other trading activities**
**Investment income**
Other investment income
**3.**
**Resources expended**
**Charitable activities**
Grants made
Cost of fundraising activities
Administrative overheads
Training program costs
**Total Charitable Expenditure**
**Governance costs**
Accounting fees|**2025**
**£**
7,784
-
7,784
2,221
2,221
15,370
15,370
**2025**
**£**
22,629
-
503
7,785
**30,917**
**384**|**2024**
8,859
1,270|
|---|---|---|
|||10,129|
|||2,663|
|||2,663|
|||16,183|
|||16,183|
|||**2024**
£
53,402
132
474
5,771|
|||**59,779**|
|||**330**|
12
## **AJVIR SINGH SANDHU LEADERSHIP FOUNDATION**
## **Notes to the Financial Statements Continued**
|**4.**
**Investments held as assets**
**2025**
**£**
**Listed**
**investments**
**Carrying values of investments**
Brought forward
638,301
Additions at cost
-
Disposals
-
Revaluation at 31 July 2025
41,784
31 July 2025
680,085
**5.**
**Creditors: Amounts falling due within one year**
**2025**
**£**
Other creditors
384
384
**6.**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**2025**
**£**
Fund balances are represented by:
Investments held as assets
680,085
Current assets
2,580
Current liabilities
(384)
682,281
**7.**
**Statement of funds at 31 July 2025**
**1 August 2024**
**Income**
**Expenditure**
**£**
**£**
**£**
**Unrestricted revenue funds**
646,423
67,159
(31,301)
**Total Charity Funds**
**646,423**
**67,159**
**(31,301)**
Statement of funds at 31 July 2024
1 August 2023
Income
Expenditure
£
£
£
Unrestricted revenue funds
618,135
88,397
(60,109)
Total Charity Funds
618,135
88,397
(60,109)
**For the year ended 31 July 2025**|**2024**
**£**
**Listed**
**investments**
609,781
20,000
(50,902)
59,422|
|---|---|
||638,301|
||**2024**
**£**
576|
||576|
||**Unrestricted**
**funds**
**2024**
**£**
638,301
8,698
(576)|
||646,423|
||**31 July 2025**
**£**
682,281|
||**682,281**|
||31 July 2024
£
646,423|
||646,423|
13
## ASSLF Financials to 31 July 2025 v2
## Final Audit Report
2026-05-22
Created: 2026-05-22 By: Tall Horse Consultancy Services Ltd (info@tallhorse.co.uk) Status: Signed Transaction ID: CBJCHBCAABAA2oWmz3jkyBKWGugrdhu2VuVfnWy3PQwM
## "ASSLF Financials to 31 July 2025 v2" History
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