**REGISTERED CHARITY NUMBER: 297960**
**Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 March 2021**
**for Sikh Resource & Community Development Centre**
Wormald & Partners Chartered Accountants (ICAEW) Redland House 157 Redland Road Redland Bristol BS6 6YE
**Sikh Resource & Community Development Centre**
## **Contents of the Financial Statements for the Year Ended 31 March 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**||5||
|**Notes to the Financial Statements**|6|to|10|
|**Detailed Statement of Financial Activities**||11||
**Sikh Resource & Community Development Centre**
## **Report of the Trustees for the Year Ended 31 March 2021**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objects of the charity are to encourage and promote the learning of the principals of the Sikh culture and religion, represent Sikh interests in a variety of forums, provide information resources, work for the provision of Asian language with teaching to achieve a multicultural education.
The main activities to achieve are:
To work for the provision of Asian language teaching in schools and thus achieve a multicultural education. To encourage the learning principles of the Sikh religion with a view to ensuring harmonious social relations in Bristol.
## **Public benefit**
The Trustees have compiled with their duty under section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.
Summary of main objectives in relation to the above objects
In furtherance of the above objects by not further or otherwise the organisation shall:
i. Promote and provide mother-tongue language teaching for adults;
ii. Help Sikh youth to understand their heritage and also to increase the awareness of Sikhism amongst other non-Sikhs; iii. To print and publish any newspapers, periodicals, books or leaflets that are necessary for promotion; iv. To arrange and provide for or join in arranging and providing for the holding of exhibitions, meetings, lectures, seminars and training courses for young people, single, unemployed and unskilled women;
v. To purchase, take on lease or in exchange hire or otherwise acquire any property and rights and privileges necessary as foresaid;
vi. To make regulations for the management of any property this may be acquired
vii. To arrange activities for the community development with the partnership of the other organisations.
## **FINANCIAL REVIEW**
## **Reserves policy**
The Centre aims to hold at least 3 months salaries for staff and for the running costs of the Centre in reserves. However, in an attempt to move into the Barton Hill building, all reserves have been used for refurbishment
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Organisation**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The Trustees are responsible for safeguarding the assets of the charity and hence for taking steps for the prevention and detection of fraud and other irregularities. They are also responsible for maintaining proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity.
Trustees are elected at the Annual General Meeting by the general members. The committee must have a minimum of five and a maximum of ten members. In addition the committee may co-opt additional members provided that not more than one-third are co-opted.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
297960
## **Principal address**
c/o Mr Manjit Singh, Treasurer 87 Badminton Road Downend Bristol BS16 6BU
Page 1
## **Sikh Resource & Community Development Centre**
## **Report of the Trustees for the Year Ended 31 March 2021**
## **Trustees**
Mr Lakhbir Singh - Chair Mr Dilawer Singh - Secretary Mr Manjit Singh - Treasurer Mr Jaswani Singh Bhaker
## **Independent Examiner**
Wormald & Partners Chartered Accountants (ICAEW) Redland House 157 Redland Road Redland Bristol BS6 6YE
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Trustee
Page 2
## **Independent Examiner's Report to the Trustees of Sikh Resource & Community Development Centre**
## **Independent examiner's report to the trustees of Sikh Resource & Community Development Centre**
I report to the charity trustees on my examination of the accounts of Sikh Resource & Community Development Centre (the Trust) for the year ended 31 March 2021.
## **Responsibilities and basis of report**
As the charity trustees of the Trust 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 Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
3. the accounts do 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.
D R Patel FCA Senior Partner Wormald & Partners Chartered Accountants (ICAEW) Redland House 157 Redland Road Redland Bristol BS6 6YE
Date: .............................................
Page 3
## **Sikh Resource & Community Development Centre**
## **Statement of Financial Activities for the Year Ended 31 March 2021**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
Charitable Activities
10,000
Investment income
2
-
Other income
32,000
**Total**
42,000
**EXPENDITURE ON**
**Charitable activities**
3
Charitable Activities
11,775
**NET INCOME**
30,225
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
123,846
**TOTAL FUNDS CARRIED FORWARD**
154,071|Restricted
fund
£
-
-
-
-
-
-
-
-|2021
Total
funds
£
10,000
-
32,000
42,000
11,775
30,225
123,846
154,071|2020
Total
funds
£
-
1
16,975|
|---|---|---|---|
||||16,976
10,818|
||||6,158
117,688|
||||123,846|
The notes form part of these financial statements
Page 4
## **Sikh Resource & Community Development Centre**
## **Balance Sheet 31 March 2021**
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
6
216,394
**CURRENT ASSETS**
Debtors
7
38,710
Cash at bank and in hand
13,392
52,102
**CREDITORS**
Amounts falling due within one year
8
(6,828)
**NET CURRENT ASSETS**
45,274
**TOTAL ASSETS LESS CURRENT LIABILITIES**
261,668
**CREDITORS**
Amounts falling due after more than one year
9
(107,597)
**NET ASSETS**
154,071
**FUNDS**
12
Unrestricted funds
**TOTAL FUNDS**|Restricted
fund
£
-
-
-
-
-
-
-
-
-|2021
Total
funds
£
216,394
38,710
13,392
52,102
(6,828)
45,274
261,668
(107,597)
154,071
154,071
154,071|2020
Total
funds
£
216,483
18,551
2,327|
|---|---|---|---|
||||20,878
(8,973)|
||||11,905|
||||228,388
(104,542)|
||||123,846|
||||123,846|
||||123,846|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
Page 5
**Sikh Resource & Community Development Centre**
## **Notes to the Financial Statements**
## **for the Year Ended 31 March 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land & Building - Not Provided (See note below ) Fixtures and fittings - 25% on reducing balance basis
The trustees have carried out a full impairment review in accordance with FRS 11, as a result of which no depreciation charge is made in respect of Land & Building on the ground that the estimated residual value is not materially different from its carrying value in the Balance Sheet.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||||
|---|---|---|---|---|
||2021||2020||
||£||£||
|Interest Receivable||-||1|
Page 6
continued...
**Sikh Resource & Community Development Centre**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 March 2021**
## **3. CHARITABLE ACTIVITIES COSTS**
|**CHARITABLE ACTIVITIES COSTS**||
|---|---|
||Support|
||costs|
||£|
|Charitable Activities|11,775|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
## **6.**
|**INCOME AND ENDOWMENTS FROM**
Investment income
Other income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Charitable Activities
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 April 2020 and 31 March 2021
**DEPRECIATION**
At 1 April 2020
Charge for year
At 31 March 2021
**NET BOOK VALUE**
At 31 March 2021
At 31 March 2020|Barton
Hill
£
208,527
19,909
-
19,909
188,618
188,618|Unrestricted
fund
£
1
16,975
16,976
10,818
6,158
117,688
123,846
St.Marks
Road
£
27,511
-
-
-
27,511
27,511|Restricted
fund
£
-
-
-
-
-
-
-
Fixtures
and
fittings
£
25,350
24,996
89
25,085
265
354|Total
funds
£
1
16,975
16,976
10,818
6,158
117,688
123,846
Totals
£
261,388
44,905
89
44,994
216,394
216,483|Total
funds
£
1
16,975|
|---|---|---|---|---|---|
||||||16,976
10,818|
||||||6,158
117,688|
||||||123,846|
Page 7
continued...
## **Sikh Resource & Community Development Centre**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
|**7.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Rent Receivable
Prepayments
**8.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 10)
Trade creditors
Other creditors
**9.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Bank loans (see note 10)
**10.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling due in more than five years:
Repayable by instalments:
Bank Loan
Bank Loan
**11.**
**SECURED DEBTS**
The following secured debts are included within creditors:
Bank loans|2021
£
33,000
5,710
38,710
2021
£
4,410
42
2,376
6,828
2021
£
107,597
2021
£
4,410
93,877
13,720
107,597
2021
£
112,007|2020
£
16,000
2,551
18,551
2020
£
7,682
-
1,291
8,973
2020
£
104,542|2020
£
16,000
2,551|2020
£
16,000
2,551|
|---|---|---|---|---|
||||18,551||
|||||2020
£
7,682
-
1,291|
|||||8,973|
|||2020
£
7,682|||
|||93,877
10,665
104,542|||
|||2020
£
112,224|||
The Bank loans are fully secured over the first legal charge on freehold properties at Barton Hill , Queen Ann Road , Bristol and on 114 St Marks Road, Bristol.
Page 8
continued...
## **Sikh Resource & Community Development Centre**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 March 2021**
## **12. MOVEMENT IN FUNDS**
|At 1.4.20
£
**Unrestricted funds**
General fund
123,846
**TOTAL FUNDS**
123,846
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
42,000
**TOTAL FUNDS**
42,000
**Comparatives for movement in funds**
At 1.4.19
£
**Unrestricted funds**
General fund
117,688
**TOTAL FUNDS**
117,688
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
16,976
**TOTAL FUNDS**
16,976
A current year 12 months and prior year 12 months combined position is as follows:
At 1.4.19
£
**Unrestricted funds**
General fund
117,688
**TOTAL FUNDS**
117,688|Net
movement
At
in funds
31.3.21
£
£
30,225
154,071
30,225
154,071
Resources
Movement
expended
in funds
£
£
(11,775)
30,225
(11,775)
30,225
Net
movement
At
in funds
31.3.20
£
£
6,158
123,846
6,158
123,846
Resources
Movement
expended
in funds
£
£
(10,818)
6,158
(10,818)
6,158
Net
movement
At
in funds
31.3.21
£
£
36,383
154,071
36,383
154,071|At
31.3.21
£
154,071|
|---|---|---|
|||154,071|
|||154,071|
Page 9
continued...
## **Sikh Resource & Community Development Centre**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 March 2021**
## **12. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|58,976|(22,593)|36,383|
|**TOTAL FUNDS**|58,976|(22,593)|36,383|
## **13. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2021.
Page 10
## **Sikh Resource & Community Development Centre**
## **Detailed Statement of Financial Activities**
## **for the Year Ended 31 March 2021**
||2021|2020|
|---|---|---|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Investment income**|||
|Interest Receivable|-|1|
|**Charitable activities**|||
|Grants|10,000|-|
|**Other income**|||
|Rent Receivable|32,000|16,975|
|**Total incoming resources**|42,000|16,976|
|**EXPENDITURE**|||
|**Support costs**|||
|**Management**|||
|Rates and water|415|273|
|Insurance|1,954|2,211|
|Light and heat|137|2,292|
|Postage and stationery|100|33|
|Sundries & Cleaning|-|9|
|Accountancy Fees|720|720|
|Professional Fees|4,168|690|
|Fixtures and fittings|88|118|
|Interest Payable|4,193|4,472|
||11,775|10,818|
|Total resources expended|11,775|10,818|
|**Net income**|30,225|6,158|
This page does not form part of the statutory financial statements
Page 11