REGISTERED CHARITY NUMBER: 506947 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 FOR RAMGARHIA SIKH TEMPLE
RAMGARHIA SIKH TEMPLE CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Paze Report of the Trustees Report of the Independent Audltors 8 to 10 ststement of Flnanclal Activltles li Balance Sheet 12 to 13 Notes to the Flnanclal Statements 14 to 26
RAMGARHIA SIKH TEMPLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 The trustees present their report with the financial statements of the charity for the year ended S April 2024. 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 1021 (effective l January 2019). OBJECTIVES AND AcfiviTIES Objectives and activltles Our aims and ob ectives The aims and objectives of the charity are as set out in the charity's constitution and continue to be the advancement of the Sikh religion in accordance with the doctrine of the Holy Guru Granth Sahib and the teachings of the Ten Gurus. Ensurin our work dellvers our aims We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us to ensure that our aim, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commisslon's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In carrying out this review the trustees have considered the Charity Commission's general guidance on public benefit and in particular it5 supplementary public guidance on the advancement of religlon for the public beneflt. The focu5 of our work The focus of the charity's work continues primarily to be the advancement of the Sikh religion In accordance with the doctrine of the Holy Guru Granth Sahib and the teachings of the Ten Gurus. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Page I
RAMGARHIA SIKH TEMPLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED S APRIL 2024 OBJECTIVES AND AcfiviTIES Slgnificant activities Significant activities undertaken during the year ended 5 April 2024 continued to include the provision of a centre where the community can gather for worship and celebrate various festivals according to Sikh culture, the provision of facilities for weddings and for the teaching of the Punjabi language and music and also the promotion of 5POrt5 activities, general health awareness and well-being activities such as yoga and keep fit classes for both young and elderly men and women. The management trustees, management committee, custodian trustees and the various sub-committees have endeavoured to serve the Sadh Sangat by facilitating religious programmes and functions that meet the needs of the congre8ation and, furthermore, promote the beliefs and teachings of the Sikh religion. This has been achieved through the following. Daily worship. Main worship on Sundays. Akhand Paths, Sukhmani Sahib Paths. Religiou5 services at the residence of memnbers of the congre8ation. Clvil and religiou5 weddln8 services. Funeral services in accordance with the Sikh rellgion. Preparation and provision of daily langar. Education services (music and Punjabi language classes). Social funrtions at the Ramgarhia Community Centre. Coach trips to seaslde re50rt5. Mamagement of the temple's car park. Volunteers Volunteers are an important resource in the charity's work and are involved in most of the charity's faith and community activities. For example, the organisation of various events is performed on a voluntary basis by members of the community. Thls includes the preparation and serwing of food and cleanin8. All of the management trustees work as volunteers for the charlty and all trustees give their time voluntarily and receive no benefits from the charlty. Any expenses reclaimed from the charity are set out in the notes to the financial statements. Page 2
RAMGARHIA SIKH TEMPLE REPORT OF THE TrUSTEES FOR THE YEAR ENDED 5 APRIL 2024 ACHIEVEMENT AND PERFORMANCE Charitable actlvftles How the charit 's activities deliver ubllc benefit The charity carries out a wide range of activities in pursuance of its charitable aims. The trustees consider that these activities, summarised below, provide benefit both to those who worship at the charity's temple and the wider community. The charity provides the following services in advancement of its charitable activities. Reli ious activities The organisation of events of religious importance where all members of the community can take part and benefit. The Invitation of lecturers and muslcians from abroad to enll8hten the con8regation on varlous aspects of the Slkh religion and culture. The promotion of major functlons advertised on Sky media channels. Communit activities The organisation of health awareness workshops covering Issues such as heart problems, drug related problems, diabetes, depression and so forth. The honouring and organising of an evening of entertainment for young graduates and people who have acquiredlgained specific academic achievements in the community. The organisation of Gurmat camps for children during the summer and half-term holidays. The organi53tion of day trips to various places of interest and seaside trlps for young children and elderly people. The Setting up of yoga and keep fit classes for both men and women and the provlslon of 5POrts facilities at the Ramgarhia Community Centre. The hosting of Atam Ras Klrtan Darbar5 attended by people in the evening. The organising of marriage bureau pro8rammes during the year. Communit educational activities The provision of Punjabi classes from infants to GCSE level. This provldes an insight Into the Punjabl Sanguage and allows young people to learn the Punjabi language. thereby allowing them to read the Holy Guru Granth Sahib and understand Sikh values. The provision of a computer learning suite for teachin8 information technology and the teaching of the Punjabi language. The provision of GCSE Mathematics revision classes for students. The provision of Gurmat and cla551cal music classes to help the whole congregation, especially youn8 people. to understand the Gurbani and wider Sikh values. Gurbani classes are also provided for people of all ages so that people can read and comprehend the Holy Guru Granth Sahib so that a deeper understanding of the Sikh doctrine can be attained. Page 3
RAMGARHIA SIKH TEMPLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED S APRIL 2024 ACHIEVEMENT AND PERFORMANCE Fundraising actlvltles The main fundraising activities of the charity during the year remain the receipt of voluntary donations from members and the receipt of donations from religious functions and gatherings. FINANCIAL REVIEW Financial posltlon The Statement of Financial Activities for the year ended 5 April 2024 shows incoming resources totalling £399,669 (2023: £313,920) and resources expended totalling £320,53412023: £333,858), generating net incoming resources of £79,13512023: net resources expended totalling £20,938). As a result, the charity's net assets have increased from £2,142,623 as at 5 April 2023 to £2,221,758 as at 5 April 2024. The Charlty's management commlttee, supported by the property trustees, have worked tirelessly to meet the needs of the con8re8atlon in arranging and holding weddings, rell8ious functions and funerals. In consideration of the above, the charity's balance sheet ¢ontlnues to be in a relatlvely healthy position as at S April 2024. Principal funding sources The principal funding of the charity15 derlved from donations received from users of the temple and its facilitie5 and from receipts for the use of the temple's car park. Reserves poIIcy Ramgarhia Sikh Temple recognises the Importance of havlng reserves. These funds are freely available to Spend on any of the charity's purposes and hence exclude any restrirted funds should there be any. Ram8arhia Sikh Temple face5 a number of risk5 that may result in the need to use the charity's reserves. Some of these include the following, A reduction in fundin8 from supporters. Unexpected refurbishment costs in relation to the charity's property. External factors Impacting the charlty such as wage increases or increasing utility bill5, Reserves are represented by the fund balances as disclosed in the charlty's balance sheet on page 13 of the financial statements. The charity's balance Sheet shows unrestricted reserves (reserves that do not carry out any restrictlons on how they can be used) of £2.214.57012023: £2.132,3661. In a55essing our level of free reserves 35 at 5 April 2024 we also exclude fixed assets totalling £856,663 12023: £900,230) and designated fund balance5 totallin8 £890,910 (2023: £839,4041.This leaves free reserves at £466,997 as at 5 April 202412023: £392,732) which covers approximately 17 month5 operational expenditure based on the results for the year ended 5 April 202412023: 14 months). It is the trustee5 view that this amount means that the charity has a balanced approach between having funds available to run the charity on a day to day basis and keeping funds aside in case any of the risks mentioned above materialise. The trustees believe this level of reserves provides the charity with adequate financial stability and the means to meet it5 charitable objectives for the future. The level of reserves will be reviewed annually to ensure alignment with risk5 the charity faces. Page 4
RAMGARHIA SIKH TEMPLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 FufuRE PLANS During the coming year the charity has made progress in the following area5 in order to help advance the charity's objects and activities. The charity is continuing to actively progre55 plans regarding the development of the Temple's Education Centre. STRucfuRE, GOVERNANCE AND MANAGEMENT Governlng document Ramgarhia Sikh Temple is an unincorporated organi5ation and was registered as a charity on 21 August 1981. Ramgarhia Sikh Temple is governed by a constitution which was adopted on 3 January 1971 a5 amended on 3 October 1977, 23 November 1980 and 26 March 2017. Recruitment and appointment of new trustees and organisatlonal strurture The charity has a council of five custodian property trustees who are elected every 5 year5 by a member5, ballot. There are three management trustees along with twenty selected commlttee members and they are In charge of the day to day running of the charity. Management trustees are elected every 3 years by a members, ballot. Induction and tralnlng of new trustees New custodian trustees who are elected by the members have, in most instances, previously served in management committees and knowledge from these positions is utili5ed by the ch3rlty in their roles as trustees. Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance 38ainst fraud and error. The trustees have a risk management strategy that comprise5 the following. An annual review of the risks that the charity may face. 2 The establishment of systems and procedures to mitigate those risks identified. 3 The implementation of procedures designed to minimise any potential impact on the charity should those risks materialise. The trustees are of the opinion that there are no major risks to which the charity is exposed. Fundralslng standards Informatlon The majority of our income comes from voluntary donations from our 5UPPOrters, Through the fundraising efforts of our staff, volunteers and 5UPPOrters we are generating the financial resource5 to enable us to provide our services. We have a wide portfolio of fundraising activities to generate voluntsry donations towards the Services we provide. Our Board of Trustees is deeply committed to building relationships and trust with our 5UPPOrters and is committed to the strengthening of oversight and assurance concerning our fundraising programmes and in ensuring compliance and best practice in these areas. We are particularly aware of the need to protect vulnerable individua15 in any fundraising we undertake. We continue to be committed to addressing any expression of dissatisfaction on the part of our supporters and to examining ways to improve the levels of our service to them. Page 5
RAMGARHIA SIKH TEMPLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED S APRIL 2024 REFERENCE AND ADMINISTRATIVE DETAILS Registered Charlty number 506947 Prlnclpal address Graham Street Birmingham West Midlands 813LA Trustees Custodian Trustee5 J S Nandhra G S Bhara M S Bhachu J S Bhogal K S Bhambha Chairman - elected 28.1.24 Secretary- elected 28.1.24 elected 28.1.24 elected 28.1.24 elected 28.1.24 Mana ement Trustees Dr P S Bhogal B S Phull A S Sembhi President General Secretary Treasurer mittee Members and Trustee5 J S Bansal D S Bhara L S Bhambra U S Bhavral S S Bharya H S Bhurjee CS Bilkhu J S Bilkhu A S Cha88ar H S Dhiman P S Dibra M S Hunjan J S Kundi A S Nandra H 5 Nandra D S Nandera J S Sandal R S Seehra R S Seehra GSSura J Svirdee Audltors J W Hinks LLP Chartered Accountant5 and Statutory Auditor5 19 Highfield Road Ed8baston Birmingham West Midlands B15 38H srATEMENT OF TRU5TEES' RESPONSIBILITIE5 The trustees are responsible for preparing the Report of the Trustees and the financial statement5 in accordance with applicable law and United Kingdom Accounting Standard5 (United Kingdom Generally Accepted Accounting Practice} including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Page 6
RAMGARHIA SIKH TEMPLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES- contlnued The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently; observe the method5 and principles in the Charity SORP; make judgements and estimates that are reasonable and prudent; prepare the financial statements on the 80ing concern basis unless it Is inappropriate to presume that the charity will continue in bu5ine55. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at anv time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Report51 Regulations 2008 and the provisions of the trust deed. They are also responslble for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularitles. Approved by order of the board of trustees on 31 January 2025 and slgned on it5 behalf by: P S Bhogal - Trustee Page 7
REPORTOF THE INDEPENDENT AUDITORSTO THE TRUSTEES OF RAMGARHIA SIKH TEMPLE Oplnlon We have audited the financial statements of Ramgarhia Sikh Temple (the 'charity'l for the year ended 5 April 2024 which comprise the Statement of Financial Activities, the Balance Sheet and note5 to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 The Financi31 Reporting Standard applicable in the UK and Republic of Ireland,. In our opinion the financial statements.. give a true and fair view of the state of the charity's affairs as at 5 April 2024 and of its incoming resources and application of resources, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,, and have been prepared in accordance with the requirements of the Charities Act 2011. Basis far oplnlon We conducted our audit in accordance with International Standards on Auditlng IU KI IISAS IUKII and applicable law. Our responsibilitie5 under those standards are further described In the Auditor5, responsibilities for the audit of the financlal statements Section of our report. We are independent of the charity In accordance wlth the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethica I responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficlent and appropriate to provide a ba515 for our opinion. Concluslons relatlng to going concern In auditing the financial statements, we have concluded that the trustees, use of the goin8 concern ba515 of accounting in the preparation of the financial statements 15 appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that. individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve month5 from when the financial statements are aLJthorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant Sections of this report. Other Information The trustees are responslble for the other Information. The other Information comprises the information included in the Annual Report, other than the financi31 statements and our Report of the Independent Auditor5 thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon, In connection with our audit of the financial statements, our responsibility is to read the other informatlon and, in doing so. consider whether the other Information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially rni55tated. If we identify such material incon515tencies or apparent material mi55tatements, we are required to determine whether this gives rise to a material mi5Statement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Page 8
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF RAMGARHIA SIKH TEMPLE Matters on whleh we are required to report by exceptlon We have nothing to report in respect of the following matters where the Charities (Accounts and Reports} Regulations 2008 requires us to report to you if, in our opinion: the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or sufficient accounting records have not been kept; or the financial statements are not in agreement with the accounting records and returns,. or we have not received all the information and explanations we require for our audit. Responslbilities of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the flnancial statements, the trustee5 are responsible for assessing the charity's ability to continue as a going concern, disclosin8, as applicable, matters related to going concern and using the going concern b35is of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Our responslbllities for the audlt of the financial statements We have been appointed as auditors under Section 144 of the Charities Act 2011 and report In accordance wlth the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS {UKI will alway5 detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to nfluence the economlc decision5 of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: enquiring wlth management and others to gain an understanding of the organisation itself including operations, financial reporting and known fraud or error; evaluating and understanding the internal control system; performing analytical procedures as expected or unexpected variances in account balances or classes of transactions appear; testing documentation supporting account balances or classes of transactlons,. and confirming accounts receivable and other accounts with a thlrd party. A further description of our responsibilities for the audit of the financial statements Is located on the Financial Reporting Council's website at www.frc.or8.uk/auditorsresponsibilities. Thi5 description forms part of our Report of the Independent Auditors. Page 9
REPORT OF THE INDEPENDENT AUDITORSTOTHE TRUSTEES OF RAMGARHIA SIKH TEMPLE Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulation5 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or forthe opinion5 we have formed. J W Hinks LLP Chartered Accountant5 and Statutory Auditors 19 Highfield Road Ed8baston Birmingham West Midlands B15 3BH 31 January 2025 Page 10
RAMGARHIA SIKH TEMPLE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED S APRIL 2024 2024 2023 Places of worship security fund Unrestricted funds Total funds Total funds Notes INCOME AND ENDOWMENTS FROM Donation5 and legacies 254,136 254,136 208,334 Charltable attlvltles Funds raised by the womens, sector of the temple 12,236 12,236 9,020 Other tradlng actlvities Investment income 111,006 22,291 111.006 22,291 88,348 7,218 Totsl 399,669 399.669 312,920 EXPENDITURE ON Raising funds 31,268 31.268 25,250 Charltable actlvltles Temple and building running c05tS Support Costs 149.636 136,561 149,636 139,630 114,212 194,396 3,069 Total 317,465 3,069 320.534 333,858 NET INCOMEI(EXPENDITUREI 82,Z04 13,069) 79,135 120,9381 RECONCIUATION OF FUNDS Total funds brought forward 2,132.366 10,257 2.142,623 2,163,561 TOTAL FUNDS CARRIED FORWARD 2,214.570 7,188 2,221.758 2,142,623 The notes form part of these financial statements Page 11
RAMGARHIA SIKH TEMPLE BALANCE SHEET S APRIL 2024 2024 2023 Place5 of worship security fund Unrestricted funds Total funds Total funds Notes FIXED ASSETS Tangible assets 14 856.663 7,188 863.8SI 910,487 CURRENT ASSÉTS Debtors Cash at bank and in hand 15 40,294 IA28.041 40,294 1,428.041 6,526 1,308,876 1,468,335 1,468,335 1,315,402 CREDITORS Amounts falling due within one year 16 (110,428) 1110,428} 183,2661 NET CURRENT ASSErs 1.357,907 1.357.907 1,232,136 TOTAL ASSETS LESS CURRENT LIABILITIES 2,214,570 7,188 2,221,758 2,142,623 NEf ASSETS 2.214,570 7.188 Z,221.758 2,142.623 The notes form part of these financial statements Page 12 continued...
RAMGARHIA SIKH TEMPLE BAIANCE SHEET- contlnued 5 APRIL 2024 FUNDS Unrestricted funds: General fund Building fund 17 1.323,660 890,910 1.292.962 839,404 2.214,570 2,132,366 Restricted funds.. Places of worship security fund 7,188 10,257 TOTAL FUNDS 2,221,758 2.142,623 The financial statements were approved by the Board of Trustees and authorised for i55ue on 31 January 2025 and were signed on its behalf bv: P S Bhogal - Trustee B S Phull - Trustee A S Sembhi - Trustee The notes form part of these financial statements Pa8e 13
RAMGARHIA SIKH TEMPLE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS General information Ramgarhia Sikh Temple 15 an unincorporated charity registered in England and Wales. The charity's principal address and place of activity is Graham Street, Birmingham. West Midlands, Bl 3LA. Accountlng conventlon The financi31 statements of the charity. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 "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 United Kingdom and Republic of Ireland IFRS 1021 (effective l January 20191" Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities Act 2011. The flnancial statements have been prepared using the historlc cost conventlon and are presented in sterling which is the functional currency of the charity, rounded to the nearest £1. The charity has taken advantage of the following dlsclosure exemptions in preparing these financial statements, a5 permitted by FRS 102 'The Flnancial Reportlng Standard appl icable in the UK and Republic of Ireland,: the requirement5 of Section 7 Statement of Cash Flow5; the requirement of paragraph 3.17ldl. GOING CONCERN The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from the date of authorising these financial statements. The expected level of Income and expenditure Is sufficient with the level of reserves for the charity to be able to continue as a goin8 concern. INCOME All income is recognised in the Statement of Financial Activities once the charity has entltlement to the funds, it Is probable that the income will be received and the amount can be measured reliably, For donation5 to be recognised the charity will have been notified of the amounts. If there are conditions attached to the donation and this requires a level of performance before entltlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those condition5 IS within the control of the charity and it 15 probable that they will be fulfilled. Fees charged for services provided by the charity such as tar parking service5 are recognised a5 the services are being performed. Income received in advance of the service being performed 15 deferred, Income from local authority grants and grants from other third parties are recogni5ed at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entltlement is not met then these amounts are deferred. Investment income is earned through holdinE assets such as cash on deposit. It Includes interest receivable. Interest income is recognised using the effective interest rate method and is recogni5ed as the charity's right to receive payment is established. Page 14 continued...
RAMGARHIA SIKH TEMPLE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 5 APRIL 2024 ACCOUNTING POLICIES- continued EXPENDITURE Liabilities are recogni5ed 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 aggfegate 311 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. Expendlture is categorlsed under the followlng headings. Expenditure on charitable activities. o Other expendlture representing those Items not falllng into the above categories. Support costs are those that assist with the work of the charity but do not directly represent charitable activitles and include office costs, governance costs and other administrative costs, TANGIBLE FIXED ASSETS Depreciation 15 provlded at the following annual rates In order to wrlte off each asset over its estimated useful life. Freehold property Improvements to property Musical equipment and library books Fixtures and fitti ngs Motor vehicles Computer & media equipment 1% on cost 15% on reducing balance 20% on reducing balance 15% on reducing balance 25% on reducing balance 33% on reducing balance Freehold land included withln freehold property has not been depreciated. The gain or loss arising on the dlsposal of an asset Is determined as the difference between the sale proceeds and the carrying value of the asset and Is recognised In net incomellexpenditurel for the year, TAXATION The charity is exempt from corporation tax on its charitable activitles. The charity is charged corporation tax on its car parklng, advertisin8 and solar panels income net of dlrectly attributable expenditure, CASH AND CASH EQUIVALENTS Cash and cash equivalent5 include cash in hand and deposits held at call with banks. Bank overdrafts are shown within borrowing5 in current liabilities. EMPLOYEE BENEFITS When employees have rendered service to the charity, 5hort-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefit5 are recognised immediately as an expense when the charity 15 demonstrably committed to terminate the employment of an employee or to provide termination benefits, Page 15 continued..
RAMGARHIA SIKH TEMPLE NOTES TO THE FINANCIAL 5TATEMENTS- continued FOR THE YEAR ENDED S APRIL 2024 ACCOUNTING POLICIES- contlnued FUND ACCOUNTING General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are Charged against the specific fund. Further explanations of the nature and purpose of each fund is included in the notes to the financial statements. FINANCIAL INSTRUMENTS The charity only has financlal assets and financlal liabilities of a kind that qualify as basic financial instrument5. Basic financial instruments are initially recognised at transaction value and Subsequently measured at amort15ed cost. GOVERNMENT GRANTS Government grants are reco8nised at the fair value of the asset received or receivable when there 15 reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specif ies performance conditions is recognised in income when the performance condrtions are met. Where a grant does not specify performance conditions It is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liabillty. HIRE PURCHASE AND LEA51NG COMMITMENTS Rentals paid under operating leases are charged to the Statement of Financial Actlvltles on a Straight Ilne basis over the period of the lease. CRITICAL ACCOUNTING JUDGEmEr5 AND KEY SOURCES OF ESTIMATION UNCERTAINTY In the application of the charity's accounting policies. the trustees are required to make judgements, estlmates and assumptions about the carrying amount of assets and liabilitie5 that are not readi ly apparent from other other sources. The estimates and underlying assumptions are reviewed on an on80ing basis. Revisions to ac¢ounting estimates are recognised in the period in which the estimate is revised where the revision afferts only that period or in the period of the revision and future periods where the revision affects both Current and future periods. Page 16 continued...
RAMGARHIA SIKH TEMPLE NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 5 APRIL 2024 DONATIONS AND LEGACIES 2024 2023 Donations Building fund 171,065 83,071 108,330 100,004 254,136 208,334 OTHER TRADING ACTIVITIES 2024 2023 Car parking income Glft In kind - funeral parkln8 Advert15ing income Solar panels income 105.156 5,850 79,345 4.500 433 4,070 111,006 88,348 INVESTMENT INCOME 2024 2023 Deposit account interest 2Z.291 7,218 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Funds raised by the womens, sector of the temple Istri Sabha 12,236 9,020 RAISING FUNDS OTHER TRADING AcfiviTIES 2024 2023 Gift in klnd funeral parking Car park rates Car park administration charge Car park repairs and renewals and other car park expenses Car park taxation charge Car park taxation charge - prior year 5,850 4,170 2,230 323 18.823 11281 4,500 3,931 2,944 13.875 31,268 25,250 Page 17 contlnued.
RAMGARHIA SIKH TEMPLE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED S APRIL 2024 CHARITABLE ACTIVITIES COSTS Direct C05t5 Isee note 91 Support Costs (see note IDI Totals Temple and building running costs Support Costs 149.636 149.636 139,630 139,630 149,636 139,630 289,266 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Staff cost5 Rates and water Llght and heat Sundrles Repairs and renewals 58.519 7,461 56,037 8,582 19,037 48,590 4,813 46,887 6,389 7,533 149.636 114.212 io. SUPPORT COSTS Sundry support costs Governance costs Totals Support COSt5 127.435 12.195 139.630 Support costs are those costs that have been Incurred by the charity in order to further the continued development of the charitV'5 charitable activities. Support costs, included in the above, are as follows: SUNDRY SUPPORT COST5 2024 Support costs 2023 Total activities Wages Equipment rent31 charge5 Food for congregation Insurance Telephone and internet Postage and stationery Sundries Donations 7.713 1.457 19,973 3,429 2.865 3.324 24.152 2,000 11.35S 1,475 24,104 3.202 1.377 5.802 21,481 ioi Carried forward 64.913 68.897 Page 18 continued...
RAMGARHIA SIKH TEMPLE NOTES TO THE FINANCIAL STATEMENTS- tontlnued FOR THE YEAR ENDED S APRIL 2024 io. SUPPORT COSTS- continued SUNDRY SUPPORT COSTS- continued 2024 Support costs 2023 Total activlties Brought forward Kirtan Bheta Pest control costs Professional fees Depreciation of tangible f ixed assets 64,913 13.167 980 68,897 16,105 832 640 53,892 48,375 127.435 140,366 GOVERNANCE COSTS 2024 Support costs 2023 Total activities Insurance costs Profession31 fee5 Audltors, remuneratlon Accountancy 2,329 2.066 5.700 2,100 2,114 44,278 5,888 1,750 12,195 54.030 ii. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other beneflts for the year ended 5 April 2024 nor forthe year ended 5 Aprll 2023. TRUSTEES, EXPENSES Reimbursements were made to trustees during the year in relation to charity expenditure paid for personally by trustees. Page 19 continued..
RAMGARHIA SIKH TEMPLE NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 5 APRIL 2024 12. STAFF COSTS 2024 2023 Wages and salarie5 66,232 59,945 66,232 59,945 The average monthly number of employees during the year was as follows: 2024 2023 Temple and ancillary staff No employees received emoluments in excess of £60,000. Durlng the year ended 5 April 2024 wages and salaries amounted to £66,23212023'. £59,9451 and employer national insurance charges (after claiming the employment allowance) amounted to £nil12023.. £nil). 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES Places of worshlp securitv fund Unrestricted fund5 Total funds INCOME AND ENDOWMENTS FROM Donations and legacie5 208,334 208,334 Charltable actlvltles Funds raised by the womens, sector of the temple 9,020 9,020 Other trading activlties Investment income 88,348 7,218 88,348 7,218 Total 312,920 312,920 EXPENDITURE ON Raising funds 25,250 25,250 Charitable activltles Temple 3nd building running costs Support costs 114,212 190.786 114,212 194,396 3,610 Total 330,248 3,610 333,858 NET INCOMEIIEXPENDITURE) 117,3281 13,610) 120,9381 RECONCILIATION OF FUNDS Total funds brought forward 2.149,694 13,867 2.163,561 Page 20 continued...
RAMGARHIA SIKH TEMPLE NOTES TO THE FINANCIAL STATEMENTS- tontlnued FOR THE YEAR ENDED S APRIL 2024 13. COMPARATIVES FOR THE STATEMENT OF FINANaAL ACTivrriES- continued Places of worship security fund Unrestricted funds Total funds TOTAL FUNDS CARRIED FORWARD 2.132,366 10.257 2,142,623 14. TANGIBLE FIXED ASSETS Musical equlpment and library books Improvements to property Freehold property COST At 6 April 2023 Additions 828.068 645,437 27,992 At 5 April 2024 828,068 645,437 27,992 DEPRECIATION At 6 April 2023 Char8e for year 190.630 6.542 426.576 32,829 27.326 134 At 5 April 2024 197,172 4S9,405 27.460 NET BOOK VALUE At 5 April 2024 630.896 186.032 532 At 5 April 2023 637,438 218,861 666 Page 21 contlnued...
RAMGARHIA SIKH TEMPLE NOTES TO THE FINANCIAL STATEMENTS- tontlnued FOR THE YEAR ENDED S APRIL 2024 14. TANGIBLE FIXED ASSETS- eontlnued Fixtures and fittings Computer & media equipment Motor vehicles Totals COST At 6 April 2023 Additions 274.467 1.740 12,300 30,322 1.818.586 1,740 At 5 April 2024 276.207 12,300 30.322 1,820.326 DEPRECIATION At 6 April 2023 Charge for year 221.694 8,651 11,953 29,920 133 908,099 48.376 At 5 April 2024 230.345 12,040 30,053 956A75 NET BOOK VALUE At 5 April 2024 45,862 260 269 863.851 At S April 2023 52,773 347 402 910,487 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors other debtors Accrued income Prepayments 4,232 3.027 27,647 5.388 1,305 5,221 40.294 6,S26 Page 22 contlnued..-
RAMGARHIA SIKH TEMPLE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 5 APRIL 2024 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Tax Social security and other taxes VAT Other creditors Accrued expenses 18,823 1,122 40,746 4.357 45.380 20,090 1,799 20,279 4,030 37.068 110,428 83,266 17. MOVEMENT IN FUNDS Net movement in funds At 5.4.24 At 6.4.23 Unrestrlcted funds General fund Building fund 1.292.962 839.404 30,698 51.506 1,323,660 890.910 2.132,366 82,204 2.214,570 Restrlcted funds Places of worship security fund 10.257 13.069) 7.188 TOTAL FUNDS 2,142,623 79,135 2.221,758 Net movement in fund5, Included in the above are as follow5: Incomlng resources Resources expended Movement in fund5 Unrestrlrted funds General fund Building fund 316,598 83.071 1285,900) 131.565) 30,698 51.506 399.669 (317,465) 82,204 Restrlcted funds Places of worship security fund 13.069) {3.069) TOTAL FUNDS 399,669 1320.534) 79.135 Page 23 continued...
RAMGARHIA SIKH TEMPLE NOTESTO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED S APRIL 2024 17. MOVEMENT IN FUNDS- contlnued Comparatives for movement in funds Net movement In funds At 5.4.23 At 6.4.22 Unrestrlrted funds General fund Building fund 1,374,233 775,461 181,2711 63,943 1,292,962 839,404 2,149,694 117,328} 2,132,366 Restrlcted funds Places of worship security fund 13.867 13,610) 10,257 TOTAL FUNDS 2,163.561 120,9381 2,142,623 Comparative net movement in fund5, included in the above are as follows: Incomln8 resources Resources expended Movement in funds Unrestricted funds General f und Building fund 212,917 100,003 1294,1881 136,0601 181,2711 63,943 312,920 1330,248) {17,3281 Restrlcted funds Place5 of worship security fund 13,610) 13,6101 TOTAL FUNDS 312,920 1333,8581 120,9381 Page 24 continued...
RAMGARHIA SIKH TEMPLE NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED S APRIL 2024 17. MOVEMENT IN FUNDS- Continued A current year 12 months and prior year 12 month5 combined position 15 as follow5: Net movement in funds At 5.4.24 At 6.4.22 Unre5trlcted funds General fund Building fund 1,374,233 775,461 150.5731 115,449 1,323,660 890,910 2,149,694 64,876 2,214,570 Restrlcted funds Places of worship security fund 13,867 16,6791 7,188 TOTAL FUNDS 2,163,561 58,197 2.221,758 A current year 12 months and prlor year 12 months comblned net movement in funds, Included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund Buildin8 fund 529,515 183,074 (580.0881 167,6251 150,5731 115,449 712,589 1647,713) 64,876 Restrlcted funds Places of worshlp security fund 16,6791 16,6791 TOTAL FUNDS 712,589 1654,3921 58,197 Purpose of funds Unrestritted - General Fund The General Fund represents the free funds of the charity that are not designated for particular purposes. Desi nated - Buildin Fund The Building Fund relates to amounts that have been set aside to fund the development of a new community and education centre which is to incorporate features Such as a drop-in centre for elderly people, a leisure centre, wedding halls and a nursery for the children of the community. There are also plans to expand the car parking to incorporate an underground area to increase capacity. The Building Fundls also used to finance improvements to the charity's freehold property. Restritted Places of Worshi Securit Fund The Places of Worship Security Fund relates to amounts received by the charity from the Home Office to help fund measures to provide protection to the congregation from hate crime. Page 25 continued...
RAMGARHIA SIKH TEMPLE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 5 APRIL 2024 18. RELATED PARTY DISCLOSURES Reimbursement5 were made to trustees during the year in relation to charity expenditure paid for personally by trustees. 19. ULTIMATE CONTROLLING PARTY The charity is controlled by a council of five custodian property trustees who are elected every 5 years by members, ballot. There are also three management trustees along wlth twenty selected committee members and they are In charge of the day to day running of the charity. Management trustees are elected every 3 years by a members, ballot. 20. OPERATING LEASE COMMITMENTS As at 5 April 2024 the charity had outstanding commltments for future minimum lease payments under non-cancellable operating leases which fall due as follow5. 2024 2023 Within one year Between two and five years In more than flve years 2,736 1,026 1,368 3,762 3.762 5,130 Page 26