Company registration number: CE017732 Charity registration number: 1183752
Sikh Your Mind
A charitable incorporated organisation Annual Report and Financial Statements for the Year Ended 31 January 2021
Sikh Your Mind
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 |
| Statement of Trustees' Responsibilities | 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 13 |
Sikh Your Mind
Reference and Administrative Details
Chairman Dr G Kaur Trustees Dr S K Bilkhu Dr S K Bhogal Principal Office 165 New Birmingham Road Oldbury B69 2JT Company Registration Number CE017732 Charity Registration Number 1183752 Independent Examiner Ballards LLP Oakmoore Court 11c Kingswood Road Hampton Lovett Droitwich Worcestershire WR9 0QH
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Sikh Your Mind
Trustees' Report
Objectives and activities
Public benefit
This year the Sikh Your Mind team have been involved in a number of virtual events due to the pandemic including events with other Sikh organisations as well as financial institutions and Universities across the UK. We have also been able to offer 68 individuals free short-term counselling due to funding from The National Lottery. Alongside this we continue to facilitate a fortnightly virtual women's group (in Punjabi and English) and have rolled out a one of a kind Mental Health and Sikhi course. Due to The Lottery Funding we were also able to offer a free and confidential telephone helpline and live web chat which served over 100 people.
We have also conducted research to investigate how Sikhs coped during the Covid-19 pandemic and hope to publish this soon.
The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
The annual report was approved by the trustees of the charity 23 Sep 2021on .................... and signed on its behalf by:
......................................... Dr G Kaur Chairman
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Sikh Your Mind
Statement of Trustees' Responsibilities
The law applicable to charities in England and Wales requires Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the Charity and hence taking reasonable steps to prevent and detect fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the Charity and the financial information included on the Charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements maydiffer from legislation in other jurisdictions.
23 Sep 2021 Approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Dr G Kaur Chairman
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Sikh Your Mind
Independent Examiner's Report to the trustees of Sikh Your Mind
I report on the accounts of the charity for the year ended 31 January 2021 which are set out on pages 5 to 14 .
Respective responsibilities of trustees and examiner
The trustees of the CIO are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the 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 you as 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 fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act 2011; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
......................................
Ben Powell MSci ACA Ballards LLP
Oakmoore Court 11c Kingswood Road Hampton Lovett Droitwich Worcestershire WR9 0QH
Date:.............................23/09/2021
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Sikh Your Mind
Statement of Financial Activities for the Year Ended 31 January 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Other trading activities 4 Total Income Expenditure on: Charitable activities 5 Other expenditure 6 Total Expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 13 Note Income and Endowments from: Donations and legacies 3 Total Income Expenditure on: Charitable activities 5 Other expenditure 6 Total Expenditure Net income Reconciliation of funds Total funds carried forward 13 |
Unrestricted funds £ 4,338 - 4,338 (419) (23) (442) 3,896 3,896 3,359 7,255 Unrestricted funds £ 4,665 4,665 (1,283) (23) (1,306) 3,359 3,359 |
Restricted funds £ - 42,540 42,540 (18,778) - (18,778) 23,762 23,762 - 23,762 Restricted funds £ - - - - - - - |
Total 31 January 2021 £ 4,338 42,540 |
|---|---|---|---|
| 46,878 | |||
| (19,197) (23) |
|||
| (19,220) | |||
| 27,658 | |||
| 27,658 3,359 |
|||
| 31,017 | |||
| Total 31 January 2020 £ 4,665 |
|||
| 4,665 | |||
| (1,283) (23) |
|||
| (1,306) | |||
| 3,359 | |||
| 3,359 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 13.
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Sikh Your Mind
(Registration number: CE017732) Balance Sheet as at 31 January 2021
| Note Fixed assets Tangible assets 11 Current assets Cash at bank and in hand Creditors: Amounts falling due within one year 12 Net current assets Net assets Funds of the charity: Restricted funds Unrestricted income funds Unrestricted funds Total funds 13 |
31 January 2021 £ 23 31,798 (804) 30,994 31,017 23,762 7,255 31,017 |
31 January 2020 £ 47 4,092 (780) |
|---|---|---|
| 3,312 | ||
| 3,359 | ||
| - 3,359 |
||
| 3,359 |
The financial statements on pages 5 to 14 were approved by the trustees, and authorised for issue on 23 Sep 2021 .................... and signed on their behalf by:
......................................... Dr G Kaur Chairman
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Sikh Your Mind
Notes to the Financial Statements for the Year Ended 31 January 2021
1 Charity status
The charity is a charitable incorporated organisation and consequently does not have share capital.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Sikh Your Mind meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity is exempt from preparing a cash flow statement.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
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Sikh Your Mind
Notes to the Financial Statements for the Year Ended 31 January 2021
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Sikh Your Mind
Notes to the Financial Statements for the Year Ended 31 January 2021
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class
Office equipment
Depreciation method and rate 33% straight line
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
3 Income from donations and legacies
Unrestricted funds
| Donations and legacies; Donations from individuals Grants, including capital grants; Grants from other charities |
General £ 3,338 1,000 4,338 |
Total 31 January 2021 £ 3,338 1,000 4,338 |
Total 6 June 2019 to 31 January 2020 £ 2,665 2,000 |
|---|---|---|---|
| 4,665 |
4 Income from other trading activities
| Lottery funding | Restricted funds £ 42,540 42,540 |
Total 31 January 2021 £ 42,540 |
|---|---|---|
| 42,540 |
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Sikh Your Mind
Notes to the Financial Statements for the Year Ended 31 January 2021
5 Expenditure on charitable activities
| Note Psychology services Governance costs 7 |
Unrestricted funds General £ 275 144 419 |
Restricted funds £ 17,323 1,455 18,778 |
Total 31 January 2021 £ 17,598 1,599 19,197 |
Total 6 June 2019 to 31 January 2020 £ 360 923 |
|---|---|---|---|---|
| 1,283 |
£419 (2020 - £1,283) of the above expenditure was attributable to unrestricted funds and £18,778 (2020 - £NIL) to restricted funds.
6 Other expenditure
Unrestricted funds
| Note Depreciation, amortisation and other similar costs |
General £ 23 23 |
Total 31 January 2021 £ 23 23 |
Total 6 June 2019 to 31 January 2020 £ 23 |
|---|---|---|---|
| 23 |
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Sikh Your Mind
Notes to the Financial Statements for the Year Ended 31 January 2021
7 Analysis of governance and support costs
Governance costs
Unrestricted funds
| Audit fees Accountancy fees Accountancy fees Legal fees Other governance costs |
General £ - - - 144 144 |
Restricted funds £ - 804 458 193 1,455 |
Total 31 January 2021 £ - 804 458 337 1,599 |
Total 6 June 2019 to 31 January 2020 £ 780 - - 143 |
|---|---|---|---|---|
| 923 |
8 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses from the charity during the year.
9 Auditors' remuneration
| 6 June 2019 | |||
|---|---|---|---|
| Year ended | to 31 | ||
| 31 January | January | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Audit | of the financial statements | 804 | 780 |
10 Taxation
The charity is a registered charity and is therefore exempt from taxation.
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Sikh Your Mind
Notes to the Financial Statements for the Year Ended 31 January 2021
11 Tangible fixed assets
| Cost At 1 February 2020 At 31 January 2021 Depreciation At 1 February 2020 Charge for the year At 31 January 2021 Net book value At 31 January 2021 At 31 January 2020 12 Creditors: amounts falling due within one year Accruals 13 Funds Balance at 1 February 2020 £ Unrestricted funds General Unrestricted funds 3,359 Restricted funds Restricted funds - Total funds 3,359 |
Incoming resources £ 4,338 42,540 46,878 |
Furniture and equipment £ 70 70 23 24 47 23 47 31 January 2021 £ 804 Resources expended £ (442) (18,778) (19,220) |
Furniture and equipment £ 70 |
Total £ 70 70 23 24 47 23 47 31 January 2020 £ 780 |
|
|---|---|---|---|---|---|
| 70 | |||||
| 23 24 |
|||||
| 47 | |||||
| 23 | |||||
| 47 | |||||
| Balance at 31 January 2021 £ 7,255 23,762 |
|||||
| 31,017 |
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Sikh Your Mind
Notes to the Financial Statements for the Year Ended 31 January 2021
| Unrestricted funds General Unrestricted funds |
Incoming resources £ 4,665 |
Resources expended £ (1,306) |
Balance at 31 January 2020 £ 3,359 |
|---|---|---|---|
14 Analysis of net assets between funds
| 14 Analysis of net assets between funds | |||
|---|---|---|---|
| Tangible fixed assets Current assets Current liabilities Total net assets 15 Analysis of net funds Cash at bank and in hand Net debt |
Unrestricted funds General £ 23 8,012 (804) 7,231 At 1 February 2020 £ 4,092 4,092 |
Restricted funds £ Total funds £ - 23 23,786 31,798 - (804) 23,786 31,017 Cash flow £ At 31 January 2021 £ 27,706 31,798 27,706 31,798 |
Total funds £ 23 31,798 (804) |
| 31,017 | |||
| 31,798 |
16 Related party transactions
There were no related party transactions in the year.
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Sikh Your Mind
Detailed Statement of Financial Activities for the year ended 31 January 2021
| Income and Endowments from: Appeals and donations Grants - other agencies Lottery funding Total Income Expenditure on: Psychology Services Counselling/helpline payments Sundry expenses Accountancy fees Legal and professional fees Telephone and fax Telephone and fax Depreciation of office equipment Total Expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ 3,338 1,000 - 4,338 275 - 90 - - 54 - 23 442 3,896 3,896 3,359 7,255 |
Restricted funds £ - - 42,540 42,540 - 17,323 - 804 458 - 193 - 18,778 23,762 23,762 - 23,762 |
Total 31 January 2021 £ 3,338 1,000 42,540 |
|---|---|---|---|
| 46,878 | |||
| 275 17,323 90 804 458 54 193 23 |
|||
| 19,220 | |||
| 27,658 | |||
| 27,658 3,359 |
|||
| 31,017 |
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