**Johal Global Aid** (a Charitable Incorporated Organisation (CIO)) Report and Financial Statements For the Year Ended 31 December 2023 Charity Number 1195200 Charity Number 1195200 ## **Johal Global Aid** ## **Reference and Administrative Information** **Trustees** Gurjit Singh Harpal Singh Johal Jasprit Singh **Principal Office** 50 Brook Lane, Walsall Wood, Walsall WS9 9NB **Bankers** Lloyds Bank PLC, 6 Market Place, Oldham OL1 1JG Charity Number 1195200 ## **Johal Global Aid** ## **Trustees' Report** ## **For the Year Ended 31 December 2023** The trustees of Johal Global Aid (“the CIO”) present their report and financial statements for the Year Ended 31 December 2023. The trustees confirm that the annual report and financial statements of the CIO comply with the current statutory requirements, the requirements of the CIO's Constitution and the provisions of the statement of recommended practice (SORP), applicable to charities preparing their accounts in accordance with the financial reporting standard applicable in the UK (FRS 102) (effective 1 January 2015) as amended by update bulletin 1 (effective 1 January 2015). ## **GOVERNANCE AND MANAGEMENT** The CIO is operated under the rules of its Constitution adopted 5th March 2021. ## **OBJECTIVES AND ACTIVITIES** The object of the CIO is for the public benefit, for the relief and assistance of people in need by reason of youth, age, ill-health, disability, financial hardship or other disadvantage, among people living or working in Village Johal, P.O Bolina Doaba, District Jalandhar, Punjab 144101, India, by providing such persons with goods and/or services which they could not otherwise afford through lack of means. ## **PUBLIC BENEFIT STATEMENT** The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit'. ## **ACHIEVEMENTS AND PERFORMANCE** In the Year Ended 31 December 2023 the CIO continued fundraising activity and commenced contributing towards causes in keeping with the CIO’s stated objectives. ## **FINANCIAL REVIEW** The CIO’s income for the period was £1,292.77 (2022: £1,777.95) consisting of donations. Expenditure for the period was £285.06 (2022: £nil). This led to a surplus of income over expenditure of £1,007.71 (2022: £1,777.95). Net assets of the CIO were £2,785.66 at 31 December 2023 (2022: £1,777.95). Charity Number 1195200 ## **Johal Global Aid** ## **GOING CONCERN** After making appropriate enquiries, the trustees have a reasonable expectation that the CIO has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. ## **RESERVES POLICY** The trustees keep the reserves needs of the CIO continually under review. The Trustees have determined that the appropriate level of free reserves necessary for the efficient management of the CIO should be £nil, as there are no committed or recurring operational expenditures of the CIO. The reserves can always be topped up if we have sufficient funds in our current account. All funds are unrestricted and totalled £2,785.66 at the Year End (2022: £1,777.95). Signed on behalf of the CIO’s trustees: Signed **Harpal Singh Johal, Trustee** Date 11[th] October 2024 Charity Number 1195200 ## **Johal Global Aid** ## **Statement of Financial Activities (including Income & Expenditure Account) for the Year Ended 31 December 2023** ||**Year Ended**|**5 March 2021 to**| |---|---|---| ||**31 December 2023**|**31 December 2022**| ||**£**|**£**| |**Donations**|**1,292.77**|1,777,95| |**Charitable Activities**|**(285.06)**|(nil)| |**Administrative Expenses**|**(nil)**|(nil)| ||**______________**|**______________**| |**Net income**|**1,007.71**|1,777.95| ||**______________**|**______________**| Charity Number 1195200 ## **Johal Global Aid** ## **Balance Sheet as at 31 December 2023** **----- Start of picture text -----**
2023 2022
£
Cash at Bank 2,785.66 1,777,95
Creditors (nil) (nil)
______________ ______________
Net Assets 2,785.66 1,777.95
______________ ______________
Unrestricted funds 2,785.66 1,777.95
______________ ______________
Total Funds 2,785.66 1,777.95
______________ ______________
**----- End of picture text -----**
These financial statements are accepted on behalf of the CIO by: Signed **Harpal Singh Johal, Trustee** Date 11[th] October 2024 Charity Number 1195200 ## **Johal Global Aid** ## **Notes to the accounts for the Year Ended 31 December 2023** ## **1) ACCOUNTING POLICIES** The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the period. ## **a) Basis of accounting** These financial statements have been prepared under the historical cost convention, in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011. ## **b) Fund accounting** Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the CIO. ## **c) Incoming resources** Income is included in the statement of financial activities when entitlement has passed to the CIO, it is probable that the economic benefits associated with the transaction will flow to the CIO and the amount can be reliably measured. 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. ## **d) Resources expended** 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 charitable activities includes all costs incurred by a CIO in undertaking activities that further its charitable aims for the benefit of its beneficiaries, - administrative costs include all costs relating to the governance of the CIO ## **e) Tangible assets** Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. ## **2) TRUSTEES’ REMUNERATION** Trustees received no expenses, remuneration or benefits in this period. ## **3) GOING CONCERN** The Trustees have assessed the current financial standing of the CIO with reference to current activity projections, cash flows and reserves and have concluded that the CIO is a going concern.