REGISTERED CHARITY NUMBER: 297960
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2025 for Sikh Resource & Community Development Centre
Wormald & Partners Chartered Accountants (ICAEW) Brunel House
11 The Promenade Clifton Down Bristol BS8 3NG
Sikh Resource & Community Development Centre
Contents of the Financial Statements for the Year Ended 31 March 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
Sikh Resource & Community Development Centre
Report of the Trustees for the Year Ended 31 March 2025
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. 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 running costs of the Centre in reserves.
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 Lakhbir Singh 8 Kingston Close Mangotsfield Bristol BS16 9BH
Page 1
Sikh Resource & Community Development Centre
Report of the Trustees for the Year Ended 31 March 2025
Trustees
Mr Lakhbir Singh - Chairman Mr Jaswant Singh Bhakard - Vice Chairman Minderjit Singh Bhatti Balbir Kaur Nirwan
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................................... L Singh - Trustee
Page 2
Sikh Resource & Community Development Centre
Statement of Financial Activities
for the Year Ended 31 March 2025
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Investment income 2 - Other income 285,182 Total 285,182 EXPENDITURE ON Charitable activities 3 Charitable Activities (7,622) Other 15,397 Total 7,775 NET INCOME/(EXPENDITURE) 277,407 RECONCILIATION OF FUNDS Total funds brought forward 75,378 TOTAL FUNDS CARRIED FORWARD 352,785 |
Restricted fund £ - - - - - - - - - |
2025 Total funds £ - 285,182 285,182 (7,622) 15,397 7,775 277,407 75,378 352,785 |
2024 Total funds £ 1 (1) - 6,919 - 6,919 (6,919) 82,297 75,378 |
|---|---|---|---|
The notes form part of these financial statements
Page 3
Sikh Resource & Community Development Centre
Balance Sheet 31 March 2025
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 209,128 CURRENT ASSETS Debtors 7 22,144 Cash at bank and in hand 299,865 322,009 CREDITORS Amounts falling due within one year 8 (117,565) NET CURRENT ASSETS 204,444 TOTAL ASSETS LESS CURRENT LIABILITIES 413,572 CREDITORS Amounts falling due after more than one year 9 (60,787) NET ASSETS 352,785 FUNDS 10 Unrestricted funds TOTAL FUNDS |
Restricted fund £ - - - - - - - - - |
2025 Total funds £ 209,128 22,144 299,865 322,009 (117,565) 204,444 413,572 (60,787) 352,785 352,785 352,785 |
2024 Total funds £ 236,723 22,091 4,868 26,959 (116,550) (89,591) 147,132 (71,754) 75,378 75,378 75,378 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. L Singh - Trustee
The notes form part of these financial statements
Page 4
Sikh Resource & Community Development Centre
Notes to the Financial Statements for the Year Ended 31 March 2025
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 | ||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | £ | |||
| Interest Receivable | - | 1 |
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continued...
Sikh Resource & Community Development Centre
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
3. CHARITABLE ACTIVITIES COSTS
| CHARITABLE ACTIVITIES COSTS | |
|---|---|
| Support | |
| costs | |
| £ | |
| Charitable Activities | (7,622) |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Investment income 1 - Other income (1) - Total - - EXPENDITURE ON Charitable activities Charitable Activities 6,919 - NET INCOME/(EXPENDITURE) (6,919) - RECONCILIATION OF FUNDS Total funds brought forward 82,297 - TOTAL FUNDS CARRIED FORWARD 75,378 - |
Total funds £ 1 (1) - 6,919 (6,919) 82,297 75,378 |
|---|---|
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continued...
Sikh Resource & Community Development Centre
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
6. TANGIBLE FIXED ASSETS
| Fixtures Barton St.Marks and Hill Road fittings £ £ £ COST At 1 April 2024 228,842 27,511 25,350 Disposals - (27,511) - At 31 March 2025 228,842 - 25,350 DEPRECIATION At 1 April 2024 19,909 - 25,238 Charge for year - - 28 At 31 March 2025 19,909 - 25,266 NET BOOK VALUE At 31 March 2025 208,933 - 84 At 31 March 2024 208,933 27,511 112 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors 9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Other creditors 10. MOVEMENT IN FUNDS At 1.4.24 £ Unrestricted funds General fund 75,378 TOTAL FUNDS 75,378 |
Computer equipment £ 300 - 300 133 56 189 111 167 2025 £ 22,144 2025 £ - 117,565 117,565 2025 £ 60,787 Net movement in funds £ 277,407 277,407 |
Totals £ 282,003 (27,511) 254,492 45,280 84 45,364 209,128 236,723 2024 £ 22,091 2024 £ 154 116,396 116,550 2024 £ 71,754 At 31.3.25 £ 352,785 352,785 |
|---|---|---|
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continued...
Sikh Resource & Community Development Centre
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
10. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 285,182 TOTAL FUNDS 285,182 Comparatives for movement in funds At 1.4.23 £ Unrestricted funds General fund 82,297 TOTAL FUNDS 82,297 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund - TOTAL FUNDS - A current year 12 months and prior year 12 months combined position is as follows: At 1.4.23 £ Unrestricted funds General fund 82,297 TOTAL FUNDS 82,297 |
Resources Movement expended in funds £ £ (7,775) 277,407 (7,775) 277,407 Net movement At in funds 31.3.24 £ £ (6,919) 75,378 (6,919) 75,378 Resources Movement expended in funds £ £ (6,919) (6,919) (6,919) (6,919) Net movement At in funds 31.3.25 £ £ 270,488 352,785 270,488 352,785 |
|---|---|
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continued...
Sikh Resource & Community Development Centre
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
10. 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:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 285,182 285,182 |
Resources Movement expended in funds £ £ (14,694) 270,488 (14,694) 270,488 |
|---|---|---|
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
12. OPTION FEE
The Sikh Resource & Community Development Center received an option fee from a prospective buyer for The Old School Barton Hill which enabled the parties to ascertain the fair value of the property pending a possible sale. The fee received was £114,566. These amounts are included in other creditors.
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Sikh Resource & Community Development Centre
Detailed Statement of Financial Activities for the Year Ended 31 March 2025
| INCOME AND ENDOWMENTS Investment income Interest Receivable Other income Gain on sale of tangible fixed assets Total incoming resources EXPENDITURE Support costs Management Insurance Light and heat Sundries & Cleaning Accountancy Fees Fixtures and fittings Computer equipment Interest Payable Finance Bank charges Total resources expended Net income/(expenditure) |
2025 £ - 285,182 285,182 3,996 1,405 490 1,800 28 56 - 7,775 - 7,775 277,407 |
2024 £ 1 (1) - 3,816 (5,430) 196 960 37 83 4,819 4,481 2,438 6,919 (6,919) |
|---|---|---|
This page does not form part of the statutory financial statements
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