Charty iegislraiKJn numbei. 282510 RAMGARHIA SIKH ASSOCIATION TRUSTEES. REPORT ANO AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2024
RyjaW9 &kh A88oelatlon Cont•nt¥ P•g• Trustees, Report & ststement rfTwslees' RespOnslbe5 Independent Auditors Report ststenI ot Fan(la1 Acttwl*s St2temenl of Financial Positi"on ststerr¢nl ol C¥¥h Notes to Statement of Cash Notes to the Financial Stalements
Ram9arhia Sikh Association Trustees. Report ForThe Year Ended 31 December 2024 The trustee5 pie5ent Ihe5r port and the fWjwiat slalgThnts lor the year ended 31 December 2024. Objectlvg¥ and Activities Aims and Oblectlves The chanty is conlroled by ils wvemw ¢Jwnnt. a deed of Trust and conseS an unincorporated charity. Slgnlfitant Aciivltles The Charty provides the folbjwmg faul1s to its congregation from rt5 locakn Gthn Crescenl. Hayes, Middlesex. 1. Earty moming prayers daty fvom 5.1X]•n 2. A full breakfast. lunch and evening meal for Ih05e that VISA the temple irt1ng those in need. A large number ol meals are served every ijay al the temkAe through (arrtable donalions 3. A specAal Lqdies con9regalM)n is held e¥ery Wednesday aftemoon 4. Sikh weddings and funera15 atcordance wlh Sikh suiptures arm1 riles 5_ Children's music and languagè cL3sses that are atteThJed ty large number of 51thYents for which Ihe charity provides all statnery and readirg Matell$. 6 Health relaied aCtlI1e$ and awarenes$ 7. Annual chikyren's sunwner camp 8 A full reèding ol Ihe Sikh riptUres148-ho seThe1 alnyxt evtry weekend iMJI 111)slty ¢)n all Sikh ReligU9 lestivals and mapf Sikh religious occasior 9. A full Sunday congregation from 5 Crf)am till 8.30pTll which can be attended by ovei foll¢er5 * any gNen Thè Tmstees are fulty committed to serwng the Sikh Ccffimunity lor Ihe puSe$ of Wf5hip by holding Sh Congrall05 and provKliThJ fa¢'tIeS that Ilde rth. dealh, bakmksm. and maffwje ceren1)n$ at the temple. Public Benefit The Iruslees Confirm Ihat they have corry>l1 wth lh• tequiiements ol sect 17 ofthe Charibes Acl 2011 to have due regard to the Chanty Commission's 9uJarte on publt benefft. Achievements and Perforniance Maln A¢hi•vem•nts l. Sports actswties such as tsble tennis, Jtt¢lo karate are hekj M a weekty ba$ 2. Monthty dement"a heatttt assessments are perforned at the lempk 3. Free use of the premises k¢r otlw Lately aclNrfs who kx4( after yOg$te[S guYe ihem away from drug use and alcoh abuse 4. Weekly lessons lor guHlarKe against anti-50oal behwour and rytse¥ bultyiNJ ale hdd at Ihe lemp 5. NHS heallh check day is also made aVaiLIe for everyone by the clwity Financial Review Flnancial Positlon Thè frnancial standing ol Ihe charty femall solKI. wrth sufficient resources to SUPFXt ts ongoing actNrts. Invostmtnt poll¢y and objectl¥e$ l. ShOrt-ten lettiThJ of the It*rary flats and Ihe warthou5e vnttl frrture fvnding and re-develoyneftt plans are re. esiablished and pul Into place lor Ihe benefrf of the communily A specialist architecl who has expenerKe In the deggn of kh lemrAes Ihè UK has retenity visiied Ihè charity and ongoing discuSsnS are currenuy taking place Reserves Policy The chanty Is hokjing SerVeS as li ts continimng to puVe a poly of lurt)iShMent ana expansK)n of Its existsng premises. Structuwv. Govern?n¢¢ and Management Govemlng Document The tharity is controlled by rts go¥eming dwJm2nt. a deed of Injsl and constrtlles an unmrp0rated charity
Ramgarhla Slkh Assoclatlon rt ForThe YearEnOed 31 D¢C¢Mr20?4 Trustees. Re Recrultment and appolntment of new Irustees One trustee must resvJn at the I1me of the general eleclws, whKh are held every t4¥0 years. and anoihe( one must be chosen on htslher place who must be unanimou5ty eleded by Ihe geneial body. STATEMENT OF TRUSTEES, RESPOPISIBILrnES The trustees are responsible for wepwwig Ihe Arnval Repyl arTrd finana•l Itstent$ in accoce with appae Law and regUbt$. The law applicable lo iartlie5 in EngkaThJ & Wales requ¥es the truslees Io Fyepare finaa81 slatemenls for each financial yéar in accordancè wilh Uniied Kingdom Gèneralty PLcepted Accounting Practice (Unrted Kingdom Accountiro Standards and applirAble lawl. The trustees musl not approve Ihe finawal stalemenis unless they are saiisfied that they give a true and fair vW of the state ol affairs of the cafrty ar¥J of the IncotTing resources and <¥plicabon ol resources. IncludirrtJ the income and expeThJrture. ofthe charity krf that penod. In prepwing these finarla1 stalements. Ihe Iruslees •e required to.. al lIable attounlm9 pts1$ and app thèm cortsisteniiy. bl obseNe the methods and printsp IA the Ch¥trs SORP". I make judwents arnting estwnes lh * reson¥bk arKI prudent". dl slate whether aFPlUb UK Accounw Slandards have been Idlch%d. subpd to any matenal depare5 dk%dosed and expL4ined in the fw)anoal slatements. el prepare the finanoal st•temerf$ gwg c¥n¢ern b•sts unts$ rt is In•pp¥orrfit 10 Fwesume thai ihe charity ill continue lo operate The trUeeS are responsib lor keeping suffen1 accoLmling redS thai dssclose with reasonable acojracy ai any time the finanoal po$rtn of the chaTty and enable them lo enswe that hnantsal statettnts ccmpty wilh Ihe Chantie$ A 2011. the Charity (Accounts an(J Reports) Regulations 2(M)8 and the provi5K•n5 of the trust Oee(l They are also iesponsible for Safeguarding Ihe a55ets of the drity and herKY fof taking iea50nable Steps for the Pfevention and dètection of fraud and Olher Mra9ulari$_ In so far 05 the trustees are awwe.. Ihere 15 no releTrrdnl audrt infowmatton of whth the charity5 auditor is unawaTe'. and Ihè trustÈès have taken aK steps that they 0h1 to have taken lo make Iherr6el¥es awa of any ielevant aud inffiymation and to estatlish that the ajitOr 15 avare of that infcfjmatr"on. The Iru51ees' are responsib lor the maintenance and integrity of the chafty arKI finanaal information induded on the chairty's websiie. Legsslaiion in the United Kingdom 9overrwng the preparalK) aThJ dkssemination of finanaal steMentS mty thffer from reg110 in OtherjurisdinS. Ref¢r*n •nd Admini¥trativ• Detsils Trustees Mr Surindec Jass Mr Jaswinder Kundi Mr Kulwanl Bansal Mr Dalip Sambhi Mr Tarlochan Bhts3al {apprt 07104r2Ir24 Charlty Number 282510 Accountsnt S Sagoo BSC. Msc. F.C.A Sagoo 8 Co. Chartered Accountants 63 The Gro¥e LMrJon W5 5LL PaLY
Raffl9•rtrta Slkh Asaelallon Tntslees. R•port (continued) ForTh• Yw EnJ•d 31 D•c4mb•r 2024 Audltorn The Ccrfporale Pradtt Llned Charter80 ACruan11 Slatulory 65 Dekqrrwe Road Hayes Middbesex UB4 ONN Th• 1nMt•, report was 4WT¢Mid ty the board rAInMtl swd it• bwty: Doly Samthi Tru61ee 2911tW2026
Ramgarhia Sikh As513110n InO•pgnd•nt Audrtofs Report to th• Trust8 of Ramgarhia Sikh A¥¥ociotion F¢x The Year Ended 31 December 2024 Opinion We have audited the finanual slatements ol Ramgarhia Sikh Association the'chairty" forthe yearended 31 December 2024 which comprise Stalerrthi ol Financ41 Activrts. Statement ol Fffianoal Posthon, Statennt of Cash Flows and notes lo the linancral statements. includthg a summary of smjnificant accounting Foh"cs. The finanryal reportmg IramewcKk thal has been appld in Iheir preparation is applKat4e law and Unled Kingdom Atcounb"rrfJ standar. including Financial Reportin9 SlaThYard 102 fbe Financjal Roportjng StaTrlard applcal)le in the UK and Repubfic of Ireland (Unled K¥hgdom Generalty Accepted Accounling Pracbcel In our opin)n. Ihe fmancial st8lerr£nls'. sive a true and lajr wew ol ihe siaie oflhe Ch'ty'S affaw5 as at 31 D¢¢embei 2024 and of rfs incommg resowces and application ol resources for the year ihen ended. have been Pfopeity prepared tn accordarfe 1h United Kiwm Genefaty Acc8pted Accountlng PractK8.' and have been piepared occoidance wh ihe requ¥ements of Ihe Chaiils Aci 2011. Basis for opinion conducled our audit N) aceordanee Ihiemaiion81 Standards on Auditing IUKI IISAS IUKII and appPtablt law Our responsibilities under Ihose standards are lurther descnbed In Ihe Audilor's responsibilili8s loi Ihe audit of Ihe Iinancial statemenls sethic ol our report. We are independent of Ihe charity in accordance with Ihe elhul requirements Ihal are revant to our avthl of the financial statements In the UK. nduding the FRC'S Elhul Slandard. and we have fulfilled aur other eth81 responsilylibcs In gccordance with these qweThnts We believe Ihth Ihe auort evKlerKe we have obtained is suifi¢ient and appfopriaie to pro¥id• • basts for opinion Other Mtter• The financkql 51alernents include CLJnyaralNe mllxrna1rf lor the ye¥ eniled 31 December 2023 We were nol apptynled a5 auditors ol the charity until 21 October 2025, and COld1r4Jty. we did rKJt avtht Ihe Ilnancwl statements ol the prlor penod As such, Ihe opentng balances 83 81 01 January 2024 are unaudited have. however. Obtaed suHrienl appropnale audlt evidence to satisty oursefves th81 openirg nol contain rni551alerrent5 Ihat malerlplty 81fect the ¢urrenl period's financial 51atennts Con¢luslon relatlng to 9olng conc•m In audrting the Iinancial statements. we have concluded that the trustees. of the golng concern basts of lUnlIng the preparaiK¥) ol th6 financ1 staiements is apwopriai• 80sed on Ihe work we have perlormed. we ttave not Ideniffied any malerial ertaInb.eS relating lo even15 or condrtion6 thai. individualty or coHedively. may casl significanl ¢S)ubl L)n the charily s ability to continue as a gOg Concern lor a period of •t le8s1 tsvelve mwths from when the finarKtal statet$ are aultyx1 for tssue. Our responsibil'ties and the $)nSibl1rt ol t Iwstees vAth lo gc¥ng cCern are descrlbed In the levant seciKJn$ or t$ ieport. Othèr Infomiatlon The other Informathjn comprtses Ihe Infrymgtlon inclu¢Jed annual rep)rt other Ih8n Ihe Iinandal slaterrlS ond our audilors report thereon. The trustees are responsible fof the other Inlormalion conlained within the annual Feport. Our opinion on the fin8noal statemenis d¢xs Tr)1 covef the other informaiion and. except lo Ihe exltnl olherw¢se eX1clI slated in our report, we do noi express any form of assurance conclusKJn Ihereon Our responbil Is lo read the olher Inloimalion and. in doing so. consider whether Ihe olher Informalion Is Malwlty Inconsi$lenl wlh the financol slatemenls or our knowledge obtained in Iho course of the audit olhervAse appears to be ma(enalty misstated If we idenlrfy such matenal InCorlSteoe3 or 9ppanI rnalerial mi$5taternents. we are reqvired to determine ethe this Ve5 nse to 8 malen81 m5sststemeni in the finanaal statements Ihemsefves. Ir. based on Ihe work we have perforrred, we conclude th31 there 15 a material misslalement ol this other mlormalh)n, are required to report Ihal l*. We hav? nothing to rewrt m thi8 regard
Ramgarhia Sikh A550clation Ind¢pend¢nt Audito$ Report io the Trustees ol Ramgathia Slkh Assoclatlon For Th¢ Yaf End 31 Dècem1 2024 Mattors on which wg required to report by exception We have nothing io fep(xl fft resped of the folk)wmg matters rebllon lo which Ihe ch1 IAcDxJnts and Reports) Re9ul8is 2008 rèquire us 10 ieport lo if In our on)ft= the Snlormalion oNen in the INslees' rewl ts on$tent m any malenal respect wrth the finanoal slalements." or suffi¢iéni a¢¢ouniing réttjrds have not been kepi. or the fanCIal slaierrnis are not w) a9feemeni wnlh Ihe accryJnbn9 recLvds and retums.. or we have not recewed all Ihe lnfrmwl)n arml explanalions %Ye requwe lor ow audit. Respon¥lbilitle8 ol trustees As explained more lulty in the iruslees- responsitjilib'es Ststsrrni. Ihe Iruslees are responsible for ihe preparation of the financial stsiemenis and lof beN)g sabsfied Ihai they givè a irue and fair view. and for such internal control as ihe Irusieès del¢rMI 15 nece¥$ary to nabl¢ the ppaRbon ol finartwl statemnt$ that •¢ from material msstaiemenl. whether due to fr or error In pieparir¥J Ihe finanrJ•l siaiernenls. Ihe Irustees are responsible for asseswg Ihe tharty'$ ablty lo continue 85 a going oncern. dLscb¥tng, as apPlble. matlerJ related Io goir4J concem and using Ihe gcng concern ba515 of accounting unle55 the Irusiees tilhtr iniend to Iuldate the charily ¢( lo cease operalKJns. or have no reakn.sl allernalivè but lo do so. Auditorf• responsibilitses lor th• audit ol Ihe financial ststements We have been appointed as 8j110r under seCtn 144 01 Ihe Chaiilies Act 2011 aThJ ptyt in cordance wth Ihe Acl and rel&¥ant regulations made or having elleth thereunder Our obieclivès ¥è io oblain r88sonablè asgJfan¢e about wheihtr ihe finanCF siai•menis as a W1• arè frèè from maierial misslatemenl. whether due lo fravd or error. •)d 10 I5$ an audilor's report thal indudes our opinion. Reasonable as$uran¢e B a high bvel of assurance. bul Is n¢X 8 9uaraniee ihat an audil ¢onducied ac¢ordan¢e with ISAS IUKI will spayS detect a mateiial missiatemeni when Il exts. Mlssiaiemenis can anse from liaud or erlor aThJ ale considered malerial Il. Individually or in the aggregate, they co¢) rtawaw be expe¢tea to influen¢e the economr de¢ssK>ns ol users taken cffl the baw• of these fir01 glatemenls. The exlent to whiL our prowlures ar8 pable ol dei•¢lirg Irregufrt8. inding fraj 1$ detthled bdow.. Non-compliance wrttt saws antJ rPgulatn$ • EnqvHy of management and those charged %4ryih govein8ncè around adual and potentlal 1rtytl d¥lm8. • Reviewing minuies ol meetings ol Ihost chaiged wlh govemarte. • Reviewing Ilnancial slateff1 ¢Jis¢losures atsj I•siin91o $upprAlin9 drn1•tV)ft lo •ues$ cgJmpln¢e wilh Jpplicable laws an¢J regukitions. Management override ol ¢ontr¢) • Auditing Ihe risk of managernent overThle of conlrols. wluding through lesting ioumal entne5 and other adjuslments for appropriateness, and evalualin9 Ihe buswies5 rati¢)naltt ol %9nifunt transactlOFts oUtse Ihe n¢Thal course ol busine55. A further descriplion ol ow resK)nsibiliiS * locate<l on Ihe Finanual Reporfmg Council"s websile al.. hltps.lfvhKv IfC.Ng.uk1audrtors$P0n5$b1lrt*S. Th15 descriplKJn frxms part of our alIfor.$ ieport Us• of our r•port This repori 1s made solely to the ¢ha¥Ny'$ tW51ees, as a body. In accordance wrth Part 4 01 the Chanties IAccounts and Reports) Regijlations 2008. Our aYrt WO has been ur#Jerlaken so th31 we migm stale lo the tharily s Irusiees those matters we are requiied to slatè 10 them In an audilor s repjrt and for Trj oth¢r puip05c. To tho ftsllcsl cxlorst pormiMo<l by law. we do nol accepl or assume responsibaity to anyone Oiher than ihe ¢twrty and the chonty's tIUSlees 8s a body. lof our It work. for this report. or lor thè opinions we have lormèd evend¢r r8 FCA (Senior Slaiutory Audil¢x) fix and on tehall of The Corporatè Prae Limiièd. St•tuW 29 Ocloter 2025 The Coiporate PraclK¢ Limrted Chartered Accwnlants and Stalulory AuartOfS 65 Delamere Road Hayes Middlesex U84 DNN
Rkmgarhla Slkh A6s0clatlon ststemwnt ol Financial Ac14¥fties For The Year Ended 31 O•cber 2024 2024 2023 UtraCt• Vnr¢$trlct•d fvnd• funds INCO AND ENDOWMENTS FROM: Donations and aoe Investrnenl Olher 669.286 108.085 1363 609,511 108.771 1.407 778.734 719.689 EXPENDITURE 0+4: Rain9 lun¢ts 1259.6251 1236,5071 NET INCOME Other e04n1$ed galng and loss Revaluahon of Inve$imeni Property 519,109 463,182 14 81,584 NETMOVEMENT IN FUNDS 580.693 483.182 RECONCILIATION OF FUNDS: Total lun4s brought loar TOTAL FUNDS CARRIED FORWARD 4.834. 4,351.784 19 5,415.6S9 4,834.96S The nol•s on p4•$ 8 10 15 frym part ol Ihes• Ilnar¢i•l *ol¢merrts.
Ram9athla Sikh AssociatFon ststemeni of Financial P08Ltion Ag At 31 De¢wnber 2024 2024 Unr¢sirf¢ted lund$ 2023 Total ld8 Not•s FIXED ASSETS Tangible Asset5 In¥ésiment Properties 13 14 809,326 3,340,000 4.100,139 4,149,326 4.100,139 CURRENT ASSETS Debtors Cash at bK and w hand 15 88.420 1.863,923 41.864 1,439.074 1,952,343 1,480,938 174,9971 Cmd1t. Amount• F•lllw Du• Wlthln On• Y••r 16 180,0551 NET CURRENT ASSETS ILIA81LITIESI 1,872,288 1.405,941 TOTAL ASSETS LESS CURRENT LIA81LlnES 6,021.614 5,606.080 Cr•dbtorn'. Am¢unts Falllng Du• After Alor• Th•n On• Y•ar 17 {605.9551 1671,1141 NET ASSETS S.415,659 4,834.966 FUNDS OF THE CHARITY Unreslricled Funds 5.415.659 4.834.988 TOTAL FUNDS 5.415,659 1.834.966 On bahaff of Ihe board r Dalip Sanhi Trustee 2911012025 The notes on pages 8 to 15 lorm wt ol these finclaI $lattynenls. PaFC'.
Ramgathia Sikh Association Stalemwt of Cash FIo¥A For The Year erbded 31 Oecemlxr 2024 2024 2023 Notes C•¥Jh ftows fr¢m opwwtlng •dviiti Not cash gen8red frcffi operat1% 430.544 448.464 Net cath geneialed frcffl 0ratl9 xtr4th1 430.544 Cash Ilowj from Invmiing a¢iiTthI Purchase of t8ngibl• assets Interest recved Interest pa Rents r6cewed from l)¥eslThnt propeth.es {22 1031 222 {$3.2281 108.549 152.9561 108.027 Nel cash geMraied Inve aclt¥lt*6 55.129 33.440 C•8h flow• lffjm fln•n¢lng •¢tl¥hl R•paynxrf ol bank borrong$ 180.8241 157.0841 Increase In c•8h and ewrlalents Cash and $h •qufvaKin15 at b¢glnnlr#J ol y C8$h and ¢ash equfvaknn15 al end of ye 424.849 1,439.074 424,820 1.014.2S4 1,663.923 1.439,074 Pog¢
Rarngarhia Sikh A3)Ciall0n Not•s to th• Stotgment of Cash Flowx For The Year Endèd 31 December 2024 l. R•¢on¢lllailon of Incom• to cash 98neratsd Irom op•ration• 2024 2023 Net income Adjustments for.. Intefesl expense Interest inwm¢ Income from investrnenls Deprecaa1n of taryible a3¥ots Movements in working caprtal. Inuease In trade and olhei debtors Increase in trade and other uethlors 519.109 483.182 52.958 1581 1108.02n 12,397 53,228 12221 {108.5491 5,722 146.5561 722 22.4 18 17,31 $1 Net $h genefated from operatws 430.544 448.464 2. Cash and cash equlvalents Cash and cash equivatenls. as stated kn the Statsm6nl of Cash Fkms. rektes to the lolkwin9 lem8 #i the BalarKe She•t.' 2024 2023 Cash at and In hand 1,863,923 1.439.074 3. Anlyih of ¢IngS kn n•t fund• A•at1 A8 Ill 31 J•nu•ry C•ih flo December 2024 2024 Cash at bank ond in hand Debts fallirrfJ due wthm year Debts lalirg duo after more than orwj ye•r 1,439.074 157,0841 1671,1141 424.849 14,3351 65,IS9 1.863.923 181,4191 160S.9551 710.876 485,673 1.196.549
Flamgarhia Sikh Associalicn Notes to the Financial 5tstémènts For Th¢ Year Ended 31 December 2024 1. General Infomiaiion Ramgarhia Sikh Assooal)n LS an unincorporated chJrrty regstered wrth the Charty cOnSKIn, registered charrty nurnber 282510 The prncyal address is Skkh Tempk. Gdden Cresceni. Hayes. MHldx. 2. Aecountlng Pollcles 2.1. Basis of Preparatlon of Flnanclal Statements The financial statements have been ppad m accor4Yance the Chwrts SORP IFRS 1021 'Accouniin9 and Reporting w Chaiilies. Siaiemeni of Recommended Prauice apty1Cab to charilie5 prepafjng their accounls In accoT¢Jance with Ihe Finanual Repong Standard aFfAicable In the UK and Republt of Ireland IFRS 1021 leffeciNe I January 20191-. Financial Reporting Slandard 102 Ihe Financ( Repctiro Standard apb In the UK hnd Republic of Ireland" and the CharilS Act 2011. The chanty is a Publ Beneft Enlrty as defifted ty FRS 102. 2.2 Fund Accounting Unrestyicled can be used in accortjance th Ihe charitaNe obJ"ecbves at the dsscretion ol the trustees De51gnated fvnds compn.se unrestricteij frjnds that have been set asbje by Ihe Irusiees lor a specifL purpose. Restricted funds are to be used specific pu0 as la dcwi by the dor 2.3. In¢oTh Income is recogntsed vthen the chanty ts legaty enlitd to rt after any performance condth'ons have been rret. Ihe amounts can be measured rehabty. and li ts probab thai Income will be received Cash donations are relniSell on recept. Other dal)nS are rer4)gnised ore the thanty ha5 been nolified ol Ihe dorialion. unless performance cwdibon5 rewire defettal of the amount Incotne lax recoverabte In ie¢ation tts donations received under Gift Aid Of deeds of covenant is recognisÈd at Ihè timè ol the donats"on. Le9acEs are recognised on receipt or olherww if the charty has been nolrfEd of an impeThJng dislnbulion, Ihe am¢)unl is knwn. and receipt t5 expected If the amounl is not known. the gacy is tated as a conlin9ent a5sel 2.4. Expendliure Expendrture Is re¢ogntsed once Ihere o a legal or constnJclNe c4)IvJatK)n to Iransfer e(a)rC benefil lo a third paty. It is probable that a transfer of e¢OnM benefrts w1 be rtwired m settlement. and the anount ol the Oblat)n can be measured rèliably. Expenditurè i% dassifièd by adNity. The $1$ of eath acbwty are made up ofthe tolal ofdirect costs and sha cosls. including support costs Invofved In urKlertaking eath acliwty Dlrecl wsls attnb12tabk to a single actsvty are allocaled directty to thal ?clivty Shad costs whh contribute to [re Ihan one activrty and support costs which ale not attributable lo a siryle actNty are apportioned beNYeen irv)se actNits"ès on a basis consisieni wilh Ihe use of ¥esou¥ces Stalf ¢osl$ are al¢)c8te(l on Ihe basis of lime S1. depreualjon charges are Ihe portKJn of Ihe assel's use. 2.5. Tangible Fixed Assets and Dèpreclaiion Tangible fixed assets are measured ai cost less acujmulaied depTecobon and any &cumulated Impaiirnenl losses. Depreciatson Is provided ai rates caULted lo wrrte off the cost of the fued assets. less their estsmated resKJual valje. ovei IheJT expected u5elul hve5 1)n the lollowing bases" Freehdd- buildsng onty Plant & Mathinery 2 % wannumw.e lye 31112Q024 15% on reduCg balance basr& Ibag¢ ID
Ram9athla Slkh Association NotQS to the Financial Statements lcontinuedl For Year Ended 31 De¢omber 2024 2.6. In¥tment PTopertio• l investment Pfoperties are carrfed at faw value delemined annualty and UerNed from the cutrent market rents and In¥e51ment property Yd& lor comparable real esthte. adiusled If necessary for any difference in the nature, locat or drtion ol the spe¢ffi¢ a$$et No depre¢4tK¥) Is piowded foi In¥estmenl wopefls. Changes In fair value are recognised In the Income siaièment 2.7. Cash and Cash Equivalenis Cash antj cash eqyi¥alent$ are bas finarKkal assets and include cash In hand and deposils hdd at call w5th banks. oth short-terni highly liquid In¥eslments that mature in no nyNe than three month5 from the dale of acqu15rtton and are readity Convertib 10 a krt¢> amounl ol cash wrth insigniftant risk ol Change in vakne. and bank ovefdfafts 2.8 Nnanclal Instruments The charity has elecied 10 appty the wowi8S of Section 11 'BaS Final Instrumenls. and Section 12.oihw FInancl Inslrvments Issues. of FRS 102 lo al ol rts fffianc4al inslnxnenls. Financial Insiwmenis are reccgnlsed kn the chan"Vs bakrKe sheet when the charty tecomes paifv lo the conlraclu81 pr0¥15ions of the instrufflenl_ Finanaal asset5 and liab11rt are offset. wrttt the net amounts pented in Ihe fmanoal slatements. eTr there ts a l&galty enforceable ri9ht to set oll Ihe iecognised any)unts and there is an ten110n to seiiie on a nei basis oc 10 realis& the asset and $enh ihe Iwbillty slmuAaneou$ Baslc Ilnanclal agsets 805ic f1narKial assets. which irKknle deblors aThJ cath a1 bk tsas. are nawred al ITansactK>n PfKe inclucling Iransaction costs and are subsequenlty camed al amortised cosi using the elleclive Inieresl rnetho¢J unless the arrangennI conslilules a financjng transact. ¥¥here the transactn is measured al the present value ol the future receip15 di%vnIed at a market rale of mtere51 Finanrjal assets c4B$5bfd a5 rNab wthin one year are not amortised. Ba•ic fin•n¢lal Ilabilill•¥ Basic financK41 Iiabllrts. Indudln9 Creart and bank Wis are Mb11 recognlsed 81 transl)n unless the atyaryement consiilutes a finanong Iran$action. wher¢ Ihe debt lns1wml 15 measured at Ihe present value of the futu payments discounted al a market rale of Intefesl Financial IKdrties classrfO as payaNe Wrth one year afe not arrnrtised Debl tnjtruments are SUbquent carrd at amortued c05t. us¥wJ the ellectNe intere$t rate ffelho(l. Trade credrtors we obl1gaQns to pay lor or seNice$ Ihai have be acquwed in ihe oldry eowsè ol operalions from supplrs. Amounts payablè are d¥s$thed as Currenl Ikqt)Arties rf paywent is due wrthin one year Of less. If noi. they are presenled as non-current Iiabilil*S. Trade ¢redrtor$ ¥• recognt5td Initiaty ai Iran$a¢itfi pry 8nd 8ub$equenily m•4sur•d ai amortised cost U5Ing th¢ effe¢tNe intere51 rnethod. Oorecognltlon ol flnanclal Ilabllltl Financial liabiliiies are derecognised when lh• chairty'$ eontra¢lual Ob$ ¢xpire 01 ¥• digch8rged or ¢An¢elled. 3. Ineom• from Oon#lion¥ ¥nd 91¢1¥¥ 2024 2023 Unrestrlcted Unrestrlcted fund¥ fund$ Donalj'ons a1 gi115 G¢ft ah1 tax reclairnable 615,5C6 53,780 595.511 14.000 689.286 609.511 P4wII
Ram9arhla Slkh Assoclation Notes to the Finan¢ial Slatements Icontirtuedl ForThe Year Ended 31 De¢ember 2024 4. InVlMnI Income 2024 2023 Unrestricted un111¢ttd funds funds Bank irderest and loyaty award Rent5 received Irorn investmenl w¢perties 1.421 108.027 222 108.549 109.448 108.771 5. Nei In¢omellExpendlturel The nel n4>)me 1$ stated after chargiiW{uedilingl'. 2024 2023 Oeprecial)n of i#r*Jible fixed assets . cwned 12.397 6. Analysls of Expgndltur• 2024 Activities Support undertaken costs dlr¢ctly {$ee note 81 T¢)tsl Raising fund$ 130.016 129.609 259.625 2023 Activities Support undÈrtakèn ¢osts dir¢ctly (See noie 81 Totsl Raistng bjnds 123.365 113.142 236.507 7. Direct Cost5 2024 2023 Dlrt¢t tost Dlrèet Cost Langar sp8TrJ Premise5 expense Reli9ous cost 48.958 64.412 16.646 46.622 67.276 9.467 130.016 123,365
Ram9arhla Slkh A$grtlatk>n Notes to the Financial Stst¥ments leontinued) For The Year Ended 31 December 2024 8. Support C08ts 2024 2023 Suppon Support Employee costs General administr¥tiDn Depreciatn Govern¥ ¢o¥l¥ Audit fees 8#nk Interejt S2.239 2.750 12.397 3.000 6.000 S3.223 4?.6?3 10.197 5.722 1SOO 53100 129.609 113.142 9. Audilorfs RwnunerJtion 2024 2023 Art ol the chty.3 finaal 51aternents 6.CM)O 6,000 10. Ind•pèndoni Examln•¢ R•munèr•Von 2024 2023 Independent eyaminaiion ol finarla1 slatements 3,fyJO 3,000 11. Staff Costs Stsff costs were a$ ftmkiws: 2024 2023 Wag¢s an¢$ SaS Other p¢y)sw)n $ts 49.880 2.3S9 40.732 1.891 52.239 42.823 12. Arage Number of Employees Average number of empbyees during the year was 212023. 2) l*c 13
Ramgarhla Sikh As$oclatt¢n Not•s to th• Yinancial Stat9m•nti Icontinugdl For The Year Ended 31 December 2024 13. Tan9lbl• Ass•ts Land & 8ulldlngg Fwhold Plant & Machinory Total Co AJ at 1 JpnuJry 2024 Transfers 4.7.713 {3.278.4161 109, 121 4, 176,834 {3.278,416 1 A$ at 31 December 2024 789.297 109, 121 8fjZ,418 pr•ci•¢ion As at 1 January 2024 Pro¥ed dunng the pefK¢J 76,695 4.864 76.695 12.397 7.533 As at 31 December 2024 7,533 81,559 89.092 N•t Book Valu As ai 31 December 2024 781,764 27,5fj2 09.326 As al 1 Uary 2024 4.C67.713 32,426 4.100.139 Certain Ireehold land and buildiNJs ¢nduded above %sre recoynffjed using a previou5 hi5101ic o)51 valuation as deemed cost on tran$rtn to the ¢hants SORP IFRS 1021. The Main Gurdwara Buildin9s have a nel book value 01 £781,764 as al 31 Dac8mber 202412023 £4,067,713). Induded wilhln freehold land and buildin9$ were re$thntial propert$ Ihal gerwale renial irKome. These properties we subjec¢ to a Iru5tees valuallon dated 31 December 2024. resulting in an 1 in ¥akte ol E61,584 Folbwing this valuaiion, these Propert have been Classle as inve$tffnt wopeflies In accoidarKe with FRS 102 Section 18. and ortr now dv4cknsed separatety in Nole 14 14. InvMtm¥nt Prop•rty 2024 Falr Valu• As al 1 J8nu•ry 2024 Tfan51er5 RevaknaiK)n 3,278.416 61.S84 As al 31 Decemter 2024 3,340.000 15. blOrd 2024 2023 Due within ong ygor Other debtors 88.420 41,864
Ramgarhla Sikh Associatlon Not•s to th¢ Finantlal Slatemenis Icontinuodl For The Year Ended 31 Drnber 2024 16. Cyedltors: AmoLMts Falllng Dug Within Ort Year 2024 2023 Bank bans and o¥erdrafts Other credftors AccruaL8 and deferred incor 61.419 6000 12,636 57.083 13.700 4.214 80,055 74 997 17. Credltorn: Amounts Falllng C• Ait•r Mor Than On• Y•ar 2024 2023 Bank loans 605.955 671.114 18. Loan• An bnatysts ol the maturity ol loans is gNen beh)w 2024 2023 Amounts laling due wilhin year c¥ on eMd." Bank loans 61.419 57.084 2024 2023 Amounis falling due betrrten one and fNe yews.. Bonk In$ 605,955 671.114 The bank b)rrthwngs are secufed by a charge c) Ihe 1weslrr1 Wopertl 19. Pon8lon Commltm•ni• The charity owraies a defimd ¢ontrfbution Fens)n scheme The agsets ol th8 5drne are held sep8ralely from Ih05e ol th¢ charity in an dependent admThslered fund. Durm9 Ihe year the charge to the statement ol finhncial activit$ In respect of defined contr¢bubon 3thme$ was £Z.35912023.' £1.891). 20. Movement In Funds As•t1 January 2024 A•at31 Galn and D•cember Lo$$e$ 2024 Income Exwndltur• Unrostrlctgd fimd• General. Gènèral unr•str¢ted fund 4.834.9&3 778.734 1259.6251 61.584 5.415.659 Total fund 4.834.968 778.734 1259.6251 81.584 5.415.659 Asat1 January 2023 Asai31 Docombor 2023 Gain anij Lossès Incom• Exs)ondltur• Unr•s¢rfct•d lund6 General". Gtneral unre5trrted fund 4.351.784 719.689 1236.507) 4.834.966 Total lund¥ 4.351.784 719.689 1236.S07) 4.834.986 lc 15
Ramgarh5a S(kh As$ociation Notes to th¢ Financial Statsments (continued For The Year Ended 31 Oecemb•r 2024 21. Trnnsactlons wlth Trustees During Ihe year the expenses feMbSed to the trustees (tre(aty io Ih¥d panies were nil (2023- Nifi 22. Relateij Party Disclosures Kèy management personnel lin¢bJing directors) received corr0ensat of r Entltles wlth control, lolnt control or significJnt infiuvnc¢ overthe entity No Entitle$ overwNeh the entity has Control. lolnt ¢on¢rol or 8lgnrfkanl Infiu¢ne• None Key management personnel of the entity or its {in the aggregate) TTuslees EntlUes that wovlde key management Pennel $ep47i¢•S to th• entlty None Other related parties None 23. Previou5 yeai Iyure have t*en rnutedl redasgfhyj rtecess. Page 16