CHARITY REGlS'fERED NUMBER:289611 REDBRIDGL PANJABI SABHIACHARIK SABHA TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THF. YEAR ENDED 31 MARCFI 2023 SOKHI & ASSOCIATES LTD CHARTF.RF.D cfi.RTIFIED ACCOUNTANTS 86B AI,BF.RT ROAD ILF()RD ESSEX IGI IHR
REDBRIDCE PANJABI SABHIACHARIK SABHA LEGAL AND ADMJNlS"fRATIVE TNFORMATION Regi$tered Charitv Number: 289611 Trustees: Mi. JagFd¢v SiiigJli Pui'eival Mr Bdksliisl) Singh Aujla Mi. Mohindci. SinLh Slier¥ill Mr Tiifscm Siiigh Baiiis Mi. Sc1nsai' Siiibli Nclnviil Registered Office: Paiijabi Cciilr¢ 293-297 Ley Sircet Iiroi-d IGI 4BN A££ount#nts: Sokhi & Associates Ltd Cliai'ter¢d Cerrified Aecountanis 86B Albert R()ud Ilford Essex IGI 114R
REDBRID EPAN ABI SABHIACHARIK SABHA FOR THE YEAR ENDED 31 MARCH 2023 CONTENTS Page Tni8lecs' report Charity - Examiners report Statement of financial activities Balance sheet Notes Income & Expendire Account 13
REDBRIDGE PANJABI SABHIACHARIK SABHA REPORT OF TIIE TRUSTEES ,OR THE YEI AR ENDED 31 MARCH 2023 Thc T11151ce8, ai"c pleased lo siibmil Ihcir repoi'l incliidiiig Ihc tinanLial .slalcmenls of the Chai'ily foi. tlie financial year to 31 . March 2023. ThL accoiints hai'e been pi'cpai'ed in accordance with Ihc accounting policies sel out in the accoiii)ts and Loniply with the Chai'ity's govei'niiig, document, applicable law and the reqliireinenls of the Sial¢nieiil olRecoiMineiided Practice 'AccoLinliiig diid Reporliiig by Cliai'ilies, Regiilalions 2005 (Rei'ised 2008). Striicture CIvernmnCC and Mana Rcdbi"idge Pdijjabi SdbhidLharik {C.Iilturall Sabha is a I'egFistci'ed charity (No. 289611) aiid is conslittilcd iindcr a trust dced. li is also known as 'Panjabi Ccnti'e" and is pi'imarily a ommui)ity Ceiitre which was establisl)ed by ¢ili initial graiit from the then 'G.L.C' in 1982-83. Ovei. Ilie years, the exeLulive comiiiitlee meinbcrs pre5ei.ved and contiiiiied lo make it a workingT ai)d buzziiig commuiiily Cenlrc in Ihe area. ement: Traditionally, five tnislecs are appointed by the existing Executive Committees for five years who Laii, if the wish, pill Ihemseli'cs fotward foi" reappuintmeiil. Diie lo receiit changes iii Chc1rily Coininission's nJlii)g. the meinbcrs of the Execulivc Coiiiiniltee dre also considered to be the 'TrLlStees' who wok hai)d iii h¢ind with the five trustee pcriodically. The cxcciitiiic commitlcc is selected oi- clecled. depending upon the iiumbei. of application troiii the pei'spective candidales, on two years, tei'm who is mainly I'esponsible for the governaiice aiid IiiaiiagemeDt lo Paiijabi Centre. They mect oil the first Fi'id<iy of each moiith foi. their rnonihly meeliiigs to discliss day lo day aiid future developmeiils, includingy making investincnts, I'C5eives, risk manag¢mcnt, policies and pcrfoman¢e. Minutes arc dilly taken and the meetings are conduclcd by Ilie president with the help ot genci'al secretary, cashier aiid oihei. cole comimiitee members. Fiiiallce coi)Irol 14 the respoiisibility of Ihc whole comimittee along with the treasLirci'. Accoiints are aiidited by a qualified duditor 2nd a report is sent lo the chdl'lty cominissioii paty. All li'uslces including incmbei's of the executive commillec give their lime freely and no tiuslee I'eniuiiei'ation was paid in the last two years. The consliliited tfLlStees dced allows the tnistees and the cominiltee meinbers lo draw iheir personal expenses like 'pelrol cosis and lelephone costs. bul none of them requested any such expenses in the previous livo years. Risk Mana ement ThL commillcc meinbers have considered the major risks to wliich Ihc community Centre is exposed and have I'eviewed those I'isks and established systems and procedui'es lo manage those risks. Our inajor risks are buildii)g structures, espeLidlly the roofs, alarin system5. CCTVS and flir risks. Pei'iodic reviews are taken wilh a fociis on oui. customers benefit and liealth. Page I
REDBRIDGE PANJABI SABHIACHARIK SABHA REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 Ob ectives and activities The aim of the Panjabi Centre is for the purpose of bci)efiting the Asiaii cominiinity and in particulai'ly people of Panjabi ethnic origin in Redbi'idge and the sun'oiiiidinLJ dl'L"dS by advanciiig their ediicalion in nialler relating to their mental, pliysical and social welfai'e in aesthetic aiid cultural matters and by relieving poverty ainoiig such people. Achievements and erformance The cui'rent Execulivc Cominillcc's Iri"m slarled iii Sepleinbei- 2021 and will end on 24th Seplcmbci. 2023. Thc cui"reiil Executive Committee coiitribuled to the successful cxeculion of ils dulics iii the last two yeai's. The Executive Cominitlee did a Ireinendous job by rcduciiig the mortgage loaii by £100,000.00 thaiiks to all the cost savings aiid reiilal income fi'om the domestic properties owned by Panjabi Ccntrc. It was collectively decided lo raise the rents for all the domestic propeilies in liiie with Ilie inflation and the niarkel rates. During the two years teiTh, the previoiis Trustees i.e. Mr Bakhshish Siiigh Aiijla, Mr Mohinder Siiigh Shergill, Mr Jagdev Sii)gh Purewal, Mr Saiisdr Singh Narwal aiid Mr Tarsein Singh Bains, had coinpleted their five yeai. term. Therefore, five new trustees were appointed with the unaniinous deeision by the executive committee. They are Mr Giirdip Singh Hundal, Mr Karnail Singh Narwal, Mr Ajmer Singh Mann, Mr Harbhajan Singh Mann, Mr Satnam Singh Sohi who took over in the month ot'August 2023. The slructural health of Panjabi Centre and our domestic propertle5 al'e closely inonitored. The recent roof repair and Iresh painl on thc facc of domcslic pi"opeities has definitely prolonged the life of the biiilding sliijclures thanks lo Ilie tlinely intervention. A new PITlPerty 291 Ley Sireel, JG14BN, next to the Panjabi Centre was purchased two years ago and is our prized possession be.cause of the close proximity with Panjabi Celllre. Nearly £14500.00 were re¢overed from the clutches of the hackers who stole the money from our ac¢ounts. London Borough of Redbridge deserves a big thanks who helped us the I'ecover the monies through systernatic investigation. The executive committee members woi'ked tirelessly during Ilie last two years. Tlie duties of the care laker were lakeii up by the Lomniillee members in liirn which resulted iii hiige cost savings. Maiiy sirnple repair work duties were also carried out by the coinmiltee mcillbcis without a cost. There were some setbacks too which must be tnentioned here. For example, the planned rebuilding plan to demolish Panjabi Centre and build a new building with modern faeililies and décor with 9 flats above, had to be shelved becaiise of the extra ordinary hike in the building costs after Covid era. Similarly, the long standing dispiite witli the tenant% of I Brisbane Road IG14SS is still iinresolved. The long ninningJ New Cornmonwldlih Womcn mental Hcalth Group had lo 8lop because its licence was not renewcd by Loi)don Boi'ougli of Rcdbridge. It is hoped that the incoming committee will continue to dedl wilh IhL jobs that we had started but could not finish for various reaqons. It secms that the future of the Panjabi Centre is iii safe hands as the iiew committee iiiclude4 lome ulcl expcrienced members and some new members who will add more excitement and vigour in the next two years term. Page 2
REDBRIDGE PANJABI SABHIACHARIK SABHA REPORT ofi THE TRUSTEES FOR THE YEI AR ENDED 31 IMARCH 202.1 Activities Tlie followiiig activities usually lake place diiringF tlie week. Panjabi Cenlrc is a hub of eoininiiiiily dctivilies for the Asiaii Coinmunity, particiilarly P(iiijabis. Approximately. 500 peoplc iise 115 facilities edLli week. The Ceiitre is opci) between I 1.0 aiii lo 8.0 pin froin Monday to Fi'iday. On weekends, the centre is open froiii 4.0 pin lo I 1.0 pni depending Lipon bookings for various lunctions. The Centre's activilics may be calegorised linder various ategories e.g. Educalioii, Culiliral, Older People Services, Meiital Health. The following gioiips operate between Moiiday to Fi'iday.. Karate clati also operates on Saturday. Monday SaTkarlElderly Aklidl? (Moiiday lo Friday) Milan Elderly Karate Tuesday Bhangra Dance Wednesday Apna Social Gi'oup Bhaiigra Dance Sehyogyi Womens RISK Elderly Kai'ate Thiirsday Bhangra Friday Saiiman Elderly Mix Karate 5 years Saturday D uture Develo ments: Panjabi Cenlre's tulure appears to be bright as our financial position is both strong and self_siistaining. The new committee will decide in their wisdom wliich directioi) they will lakc Panjabi Centre to. Page 3
REDBRIDGE PANJABI SABHIACHARJK SABHA
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCII 2023
RESPONSIBILITIII S OF THE TRUSTEES
The Tti]stc¢s ale i'e%pDnsible lui- prep
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF REDBRIDGE PANJABI SABHIACHARIK SABHA FOR THE YEAR EI NDED 31 MARCH 2023 I report on the account% ivhicli 4irc s¢t otsl on paLre.< 3 to 9 Respective responsibilities of Ihe Trustees and Examiner The Iriistee% Eli¢ I'e%punsible lur Ilie preparation ot. the ic CCOUllts. Tlie tl'U51¢es considei. that an aLidit is iiol i-eqiiired for Il)is year linder s¢¢tion 14412) of Ilie Chdl'ilies Act 2011 {tlie 2011 Acll and that ali indcpeiidcnt exainii)alioi) is needed. It is my rcspoi)sibility to.. Exaiiiijie the accounts under section 145 of tl)e 2011 Act; follow tl)e procediires laid down in the general dii'ections givcn by tlic CliaTity coihinis8ion (linder 8¢clion 14515)(b) of the 201 l Act); and slate ivheih¢i' parliLulai' rnatters have Lome to TIIY dttentioii. B#5is of independent examiner'5 report My examination Wds carriEd OLII 111 Éiccorddnce wilh the Gencral Dii'cctions given by the Charity Coiiiiiiissioii. Ali Lxaininalioi) incliides a r¢i'icw of the accolinting records kept by the cliai'ity and a compari%on of th¢ acLoiints pi'esent¢d with those reLOTds. It also includes LDI)sideration of any uniisual itcins or disclos111.es in the accoiinrs, and seeking explaiiationb from you as tnistees concerning any such InattCTS. Thc PTocedures iiiidertak¢ii do noi Provide all the evidenLe tliat woiild be rcqiiired in an dudit, dl)d Lf)nsequently no opiiiIoii is giveli as to whether tlie aLLounts present a 'true #nd fair view" and th¢ report is limited to those nialters ser oiit in Ihc staleJii¢i)I below. Independent examinvr'5 Statement In Coilliectioi? with Iny cxainiiiation. no Inatter l)a5 coine to Iny attcntion.. ( I I which gives me iea.%onable ¢aL15e to believe that in any Inaterial Tespeci the requii'emenls.. To k¢cp accounting records in a¢cordai)Le with section 386 of the Conipdnic5 ALI 2006., And Tv prepare accouiils which accord witl) the d¢cuunting records, comply with the accounting I'CqLiireiiients of scction 396 of the Companies Act 2006 and with th¢ methods and pi'iiiciples Df the Slal¢inei)l of Rccoiniyjended Practice.. Accouiiling aiid Reporting by Chai'ilies have not been mct,. or (21 to which, in oiir opii)ion, attention should be drawn in ordr to cnable a pro[ undcrstaiidii)g of the account to bc reachcd. R S Sakhi FCCA Sokhi & Associ Chartered 86B Dated.. 24 Seplembei. 2023 ecountanls IGI IHR Pagc 5
REDBRIDGE PANJABI SABHIACHARIK SABHA STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023 Restricted Income Funds Total Funds Total Fund Unrestricted Funds 2023 21)22 Incoming resources Grants & Contracts 35,148 35,148 46.096 Donations & Otlier Similar Incoine 112,272 112,272 101,003 Investment In¢ome 552 552 Total incoming re50urce5 112,824 35,148 147,972 137,948 Resources used Dii'ect Charitable Expeiidittire 41,519 17.408 58,927 80,397 Other expenditure 750 15,741 16.491 14,910 Total resources used 42.269 33,149 75,418 95,307 Gross 11gn$fers between funds Net movemeiit in funds 70,555 1,999 72,554 51,707 Total funds brought forivard 429,945 244,763 674,708 623,301 Total funds ¢arri¢d forivard £ 500,500 £ 246,762 £747,262 £674,707 Restricted iiicomc.. contractslgrants taken fonvard lo b¢.8peni in the new financial year. The #nnexed notes forni part of these financial statements. Page 6
REDBRIDGE PANJ,IBI SABHIACHARIK SABHA BALANCE SHEET AT31 MARCH 2023 Note 2023 2022 Fiyed assets Tai)¥Fible assets 773,966 792,852 Current assets Debtoi'% Ci£ sh at bank and in hand 5,788 295.847 5,658 217,968 301.635 223,626 Creditors AinniinT% fallin&F due ivithin oli¢ year 13,273) (1.273) Net eurrent assets 298,.362 222,353 Total assets les$ current liabilitles 1,072,328 1.015,205 Credilors An)oiints falling diie Ifter mol'e than one year (295,065) 1310.4961 Net assetsl{Ilabilitles) £ 777.263 £ 704,709 Capital reserves Resll-icted fiind Unrestrictcd ndS Unrestricled contingcncy re.%erve 246,763 500.500 30,000 244,763 429,946 30,000 Total funds £ 777,263 £ 704,709 Appi'oved by the tTUStees on 24 Septcinber 2023 General secre ary The aniiexed notes fomi part of thcse financial Statements. Page 7
REDBRIDGE I)ANJABI SABHJACHARIK SABHA STATEMENT OF FINANCIALACTIVITIES DETAILED ANALYSIS OF MOIIEMENTS IN FUNDS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Restrieted f4 und Acciimulaled Fuiid Blfwd Sui'plus for thc yeai. 244,763 1,999 243,041 1.722 246,762 244,763 Unrestricted funds Accumulated Fund B/fwd Surpliis tor Ilic y¢ar 429.945 70,555 380.260 49.685 500,500 429,945 Unrestricted contiiigency reserve Accumulated Fund Blfwd Surplus for the year 30,000 30,000 30,000 30,000 Total fllnds at 31 March 2023 £777,263 £704,709 Page 8
REDBRIDGE PANJABI SABHIACHARIK SABIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEI AR Ei INDED 31 MARCH 2023 Statement ol. compliuiice The8e fiiidllLial slal¢i)ienls have been prepareil iii acLordatice with the provi.sionE of Section l A 'Sinall enliiics, of Fiiiancial Rcporiing Standard 102 'The Fi111£ncial Reportin¥ Siandai-d applicable in the UK and Repiiblic of Ireland,. Tlier¢ were iio niatei'ial departures from the %ldndard. Accoiintiiig polieles Basls vf pi'eparing IhL financial statemtints The finaiicial 8latcii)eJils Iiave beei) prepai'cd under the hitOrical cost convention in accoi.dance with th¢ accoiinliiiq policies set Out below. Thes¢ financial stc1tcinciits have bccn pr¢pared iii accordaiice with RecoInineiid¢d Practice for ALcounting and Repurtiiig is511ed by Il)e Chai'ily Coinnii%sionei Grants Rev¢nLie grants al'e allocated to period to which tliey irlate. Tangible fixed assets Tangiblc fixed asscls are stated at cost less dcpreciation Depreciation iq provided at rates calciilated to write off the ¢osl or valuation af fixed assets, l¢ss their estimaicd residual valiie. ov¢i' their ¢xpect¢d uscfiil lives on thc following, bases.. Firchold Property Fixtures and fittings 25 rcdiicing balanc¢ basis Page 9
REDBRIDGE PANJABI SABHIACHARIK SABHA NOTES TO THE FINANCIAL STATEMENTS Icontinuedl FOR THE YEAR ENDED 31 MARCH 2023 Ineome Unrestricted Funds Restricted Funds Tot41 Total Funds 2023 35.148 2022 32,396 LBR - Mental Healili Pi'ojcct 35,148 Hir¢ of Hall 19,997 19,997 12,560 Cliibs 13,875 13,¥75 8,33 LBR- Grants 13.700 13,700 13.700 Rent received 78,000 78,000 76.94U Miscellaneous Income 400 400 2,777 Investment Income 552 552 112,824 35,148 147,972 146,714 Page 10
REDBRIDGE PANJABI SABHIACHARIK SABIL NOTES TO THE FINANCIAL STATEMENTS (Coiitiniied} FOR THE YEAR ENDED 31 MARCH 2023 Tangible fixed a55ets Land Plant and Building5 M#ehinery Total Cost.. At l April 2022 932,099 29,606 961,705 At 31 Mdrch 2023 932,099 29,606 961,705 Deprecialioii.. Ai l April 2022 Chaige for the yeai. 140.221 18,642 28,632 244 168.853 18.886 At 31 MarLh 2023 158.863 28.876 187,739 Nel book valiie.. Al 31 March 2022 £ 773,236 £ 730 £ 773,966 At 31 March 2021 £ 791.878 £ 974 £ 792.852 Page 11
REDBRIDGE PANJABI SABHIACHARIK SABHA NOTES TO THE FINANCIAL STATEMENTS Icontsniicdl FOR THE YEAR ENDED 31 MARCH 2023 Creditors- amount5 fallirthg due after one vear 2023 2022 Baiik Loans 295,065 310,496 £ 295,065 £310,496 Page 12
REDBRIDGE PANJABI SABHIACHARIK SABHA DETAILED TRADING ANI D PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Income Rent Othcr Income Hii'e of Hall Fees B&iik Iiilerest Gi'aiits Clubs 78,000 400 19,997 552 35.148 13.875 76.940 2.777 12.561 46.096 8,330 147,972 146,715 Cost of Sales Direct Depreciation 111,886 18,702 (18,8861 (18.702) Gross profit 129,086 128,013 Overheads Othcr Adminisli?live Costs 56,532 76,606 (56,532) (76,606) Profit O]J Ordinary activities £ 72.554 £ 51,407 Page 13
REDBRIDGE PANJABI SABHTACHARIK SABHA SCHEDULE OF OVERHEAD EXPENSES FOR THE YCI AR NDED 31 MARCH 202.3 2023 2022 Other Administrative Costs Planning Fees Rates aiid water Prinliiig, PoslagFe and Advertisin Telephoii¢s and Fax Insurance Light and heal Sub%Lripliu115 Food, Beverages ai)d Consumables Bank Charge5 Sundry Clejning and Icfuse colleclioi) 3,262 2,383 3,290 64 453 2,225 1,474 2,226 2,508 157 99 130 710 450 660 120 Fll Repairs & Maii)tenaiice Compiilei. Expeiise5 Activiiieb Loan Intcrcst Wage5 & Salai'ics Conqultancy becs Hire of Premiscs Pension A¢coiint2ncy Charitable donalions 836 15,458 4,550 40 4,683 9,934 13,053 3,548 8,489 14,964 9,190 11.800 13,000 477 750 200 750 56,532 76.606 Total overhead expenses £56,532 £76,606 Page 14