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2023-02-28-accounts

SHRI GURU RAVIDASS CULTURAL ASSOCIATION DARLASTON

TRUSTEES’S ANNUAL REPORT AND ACCOUNTS YEAR ENDED 28 FEBRUARY 2023

CHARITY NO: 514570

SHRI GURU RAVIDASS CULTURAL ASSOCIATION DARLASTON

CONTENTS

Page
1)Reference and Administrative Information 1
2)Trustees Annual Report 2 - 4
3)Independent Examiners Report 5
4)Statement of Financial Activities 6
5)Balance Sheet 7
6)Notes to the Financial Statements 8 - 14
The following pages do not form part of the financial statements:
7)Notes to the Financial Statements 15

SHRI GURU RAVIDASS CULTURAL ASSOCIATION DARLASTON

REFERENCE AND ADMINISTRATIVE INFORMATION

CHARITY NAME

Shri Guru Ravidass Cultural Association Darlaston

CHARITY NUMBER 514570

EXECUTIVE COMMITTEE:

TRUSTEES:

R K Mehmi Tarlok Chand (resigned 13 June 2022) Hans Raj Kainth (resigned 2 July 2022) Jarnail Singh (appointed 2 July 2022) Rajesh Jassal (appointed 30 August 2022)

PRINCIPAL ADDRESS 37-38 Pinfold Street Darlaston West Midlands WS10 7TF INDEPENDENT EXAMINER Mrs H Tinsley Azets St David’s Court Wolverhampton West Midlands WV1 3JE BANKERS Lloyds TSB Bank plc PO Box 46 The Bridge Walsall West Midlands

SHRI GURU RAVIDASS CULTURAL ASSOCIATION DARLASTON

TRUSTEES’ ANNUAL REPORT YEAR ENDED 28 FEBRUARY 2023

The Executive Committee (Trustees) present their Report and Accounts of the charity for the year ended 28 February 2023. The Accounts have been prepared in accordance with the accounting policies set out in note 1 to the Accounts and comply with the Charity’s governing document, applicable SORP (FRS102), the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008.

Responsibilities of the Trustees (Executive Committee)

The Trustees are responsible for preparing the Trustees’ Report and the Accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each accounting period, which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing those Accounts, the Trustees are required to:

The Trustees are responsible for keeping accounting records, which disclose with reasonable accuracy at any time the financial position of the Charity and enable it to ensure that the Accounts comply with applicable legislation.

They are also responsible for safeguarding the Assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Reference and Administrative Details

Reference and administrative details are shown on page 1 of the financial statements.

SHRI GURU RAVIDASS CULTURAL ASSOCIATION DARLASTON

TRUSTEES’ ANNUAL REPORT (continued) YEAR ENDED 28 FEBRUARY 2023

Structure, Governance & Management

Shri Guru Ravidass Cultural Association Darlaston (working name of Ravidassia Community Centre, Darlaston) was established on 1 December 1983 as an unincorporated association under its constitution, which was last amended on 2 February 2009. The Association is a registered charity (no. 514570). The Charity Commission granted permission to use the name “Shri Guru Ravidass Cultural Association Darlaston” as a working name in February 2007.

The association is administered and managed by the Executive Committee, whose members are elected at the Annual General Meeting or appointed by the Women’s Committee or the Youth Committee. The Executive Committee may appoint such sub-committees as it sees fit to facilitate the carrying out of its functions.

Under charity law, the members of the Executive Committee, being those persons having the general control and management of the administration of the Charity, are deemed to be charity trustees.

Objectives and Activities

The objectives of the association are:-

The activities of the association are:-

How our activities deliver Public Benefit:-

The trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties.

The prayer hall and kitchen facilities are available to the public seven days a week and the services of the religious priest are also available at the temple or in people’s homes.

SHRI GURU RAVIDASS CULTURAL ASSOCIATION DARLASTON

TRUSTEES’ ANNUAL REPORT (continued) YEAR ENDED 28 FEBRUARY 2023

Achievements and Performance

The Management Committee continues seeking funding to complete the building and the fitting out of the new Temple and Community Centre. Covid restrictions severely affected fund raising & donation collection during the prior year. As the Temple has been open to visitors all year, there has been a considerable increase in weekly donations & donations specifically towards the Building Fund.

Financial Review

The finances of the charity are under the control of the Executive Committee and funds may only be applied to further the objects of the charity and for no other purpose.

Incoming Resources for the year exceeded Resources Expended by £68,155 (2022 - £43,074) resulting in total funds at 28 February 2023 of £778,743 (2022 - £710,588). During the year £67,955 (2022 - £53,795) was spent on the building of the new Temple and Community Centre and £14,071 was spent on TV & audio equipment.

Reserves Policy

Unrestricted income funds amounted to £298,366 as of 28 February 2023. These funds will for the foreseeable future, be used to support the repayment of loans & other liabilities incurred in financing the Temple construction and furnishment.

With the expected level of annual charitable activities being funded by annual generated voluntary income, the Executive Committee considers the present level of reserves is adequate to support the continuation of activities for the time being and the financial position of the charity is therefore satisfactory. It keeps the level of reserves under review on a regular basis.

Going concern

At the time of approving the financial statements, the Executive Committee has a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Executive Committee continue to adopt the going concern basis of accounting in preparing the financial statements .

Signed on behalf of the Executive Committee on:

……………………………….

Date………………………….

R K Mehmi

President

37-38 Pinfold Street Darlaston West Midlands WS10 7TF

SHRI GURU RAVIDASS CULTURAL ASSOCIATION DARLASTON INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES PERIOD ENDED 28 FEBRUARY 2023

I report to the charity trustees on my examination of the accounts for the year ended 28 February 2023, which are set out on pages 6 to 14.

Respective responsibilities of trustees and examiner

As the charity’s trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

Basis of independent examiner's statement

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement – matter of concern identified

I have completed my examination. I have identified a matter of concern in my report because I have been unable to obtain sufficient evidence from you, the trustees, on the loans which are currently disclosed as creditors falling due within one year. In the absence of such evidence, it is not possible for me to reach a conclusion on whether the going concern basis of preparation remains appropriate and I am therefore unable to confirm that the content of the trustees’ annual report is in accordance with the accounting data available. Therefore, based on the current level of cash reserves and current liabilities, I must report that I have concerns about the charity’s ability to continue in operational existence for the foreseeable future.

I confirm that no other 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 charity 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 confirm that there are no other matters to which your attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

....................................................

Mrs H Tinsley FCCA

St David’s Court Union Street Wolverhampton West Midlands WV1 3JE

Date:

SHRI GURU RAVIDASS CULTURAL ASSOCIATION DARLASTON

STATEMENT OF FINANCIAL ACTIVITES FOR THE YEAR ENDED 28 FEBRUARY 2023

Notes
INCOMING RESOURCES
Incoming Resources from
generating funds:
Voluntary Income
2
Activities for generating funds
3
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Charitable Activities
4 & 5
Governance Costs
6
TOTAL RESOURCES EXPENDED
RECONCILIATION OF FUNDS
Total Funds Brought Forward
Transfers between Funds
TOTAL FUNDS CARRIED FORWARD
NET (OUTGOING)/INCOMING
RESOURCES FOR THE YEAR		 Restricted
Unrestricted
2023
2022
£
£
£
£
66,644
26,198
92,842
67,245
-
2,141
2,141
5,185
66,644
28,339
94,983
72,430
-
(20,333)
(20,333)
(26,562)
-
(6,495)
(6,495)
(2,794)
-
(26,828)
(26,828)
(29,356)
66,644
1,511
68,155
43,074
413,733
296,855
710,588
667,514
-
-
-
-
480,377
298,366
778,743
710,588

The notes on page 8 - 14 form part of these accounts.

SHRI GURU RAVIDASS CULTURAL ASSOCIATION DARLASTON

BALANCE SHEET FOR THE YEAR ENDED 28 FEBRUARY 2023

Note
FIXED ASSETS
Tangible Assets
8
CURRENT ASSETS
Cash at Bank and in Hand
CREDITORS: Amounts falling due within
one year
9
NET CURRENT LIABILITIES
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS: Amounts falling due after
one year
10
NET ASSETS
FUNDS
Restricted Income Funds
11
Unrestricted Income Funds
12		 £
£
£
£
1,199,757
1,121,244
3,614
8,401
3,614
8,401
(277,646)
(253,866)
(274,032)
(245,465)
925,725
875,779
(146,982)
(165,191)
778,743
710,588
480,377
413,733
298,366
296,855
778,743
710,588
2023
2022		 £
£
£
£
1,199,757
1,121,244
3,614
8,401
3,614
8,401
(277,646)
(253,866)
(274,032)
(245,465)
925,725
875,779
(146,982)
(165,191)
778,743
710,588
480,377
413,733
298,366
296,855
778,743
710,588
2023
2022
875,779
(165,191)
710,588
413,733
296,855
710,588

These financial statements were approved by the members of the Executive Committee and signed on its behalf by:

……………………………………. …………………………………….

R Jassal - Trustee R K Mehmi - Trustee

Date…................................................

The notes on page 8 - 14 form part of these accounts.

SHRI GURU RAVIDASS CULTURAL ASSOCIATION DARLASTON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

1) Summary of significant accounting policies:-

a) General information and basis of preparation

Shri Guru Ravidass Cultural Association is an unincorporated association under its constitution. The principal address of the charity is given in the charity information on page 1. The nature of the charity's operations and principal activities are to provide facilities to the general public to enable them to follow the teachings of Shri Guru Ravidas Ji.

The charity constitutes a public benefit entity was defined by FRS102. The financial statements have been prepared in accordance with 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 published on 16 July 2014 (as amended by Update Bulletin 1 published 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

b) Funds

Unrestricted funds are available for use at the discretion of the Executive Committee in furtherance of general objectives of the charity and which have not been designated for other 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 cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

SHRI GURU RAVIDASS CULTURAL ASSOCIATION DARLASTON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

1) Summary of significant accounting policies (continued):-

c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.

Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset.

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Expenditure on charitable activites includes all costs relating to meeting the objectives of the · charity.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Donations payable to third parties are within the charitable objectives.

e) Fixed Assets

Tangible fixed assets are stated at cost (or deemed cost). Cost includes costs directly attributable to making the asset capable of operating as intended.

Land & buildings were valued at cost.

SHRI GURU RAVIDASS CULTURAL ASSOCIATION DARLASTON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

1) Summary of significant accounting policies (contnued):-

f) Depreciation

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property No depreciation Fixtures, fittings & equipment 20% per annum on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the SOFA.

g) Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

h) Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

i) Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

j) Provisions

Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

k) 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 authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

SHRI GURU RAVIDASS CULTURAL ASSOCIATION DARLASTON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

2) VOLUNTARY INCOME

VOLUNTARY INCOME
Donations
Weekly Donation Income
Gift Aid Refunds
Building Fund Donations
Donations		 Unrestricted
Restricted
Total Funds Total Funds
Funds
Funds
2023
2022
£
£
£
£
19,078
-
19,078
12,812
5,558
-
5,558
19,708
-
66,644
66,644
34,500
1,562
-
1,562
225
26,198
66,644
92,842
67,245

3) INCOMING RESOURCES FROM ACTIVITES FOR GENERATING FUNDS

Diwali
Membership		 Unrestricted
Restricted
Total Funds Total Funds
Funds
Funds
2023
2022
£
£
£
£
2,131
-
2,131
5,185
10
-
10
-
2,141
-
2,141
5,185

4) COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE

Shri Guru Ravidass - Darlaston Unrestricted
Restricted
Total Funds Total Funds
Funds
Funds
2023
2022
£
£
£
£
(26,828)
-
(26,828)
(29,356)

5) COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE

Temple and Community Centre Own
Donations
Total Funds Total Funds
Activites
2023
2022
£
£
£
£
20,333
-
20,333
26,562

SHRI GURU RAVIDASS CULTURAL ASSOCIATION DARLASTON

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2023

6) GOVERNANCE COSTS
Accountancy
Depreciation		 Unrestricted Total Funds Total Funds
Funds
2023
2022
£
£
£
2,982
2,982
1,920
2,244
2,244
874
5,226
5,226
2,794

7) STAFF COSTS AND EMOLUMENTS

No salaries or wages have been paid to the members of the Executive Committee during the year (2022 - £nil).

8) TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
COST
At 1 March 2022
Reclassification
Additions
At 28 February 2023
DEPRECIATION
At 1 March 2022
Re Disposals
Charge for the year
At 28 February 2023
NET BOOK VALUE
At 28 February 2023
At 28 February 2022		 Freehold
Furniture
Property
Equipment
& Fittings
Total
£
£
£
£
1,117,749
1,118
8,352
1,127,219
-
67,955
14,071
82,026
1,185,704
1,118
22,423
1,209,245
-
1,118
4,857
5,975
-
-
-
-
-
-
3,513
3,513
-
1,118
8,370
9,488
1,185,704
-
14,053
1,199,757
1,117,749
-
3,495
1,121,244

SHRI GURU RAVIDASS CULTURAL ASSOCIATION DARLASTON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

9)
10)		 CREDITORS: amounts falling due within one year
Trade Creditors
Accruals
Bank overdrafts
Bank Loan Accounts
Loans
CREDITORS: amounts falling due after more than one year
Bank Loan Account		 2023
2022
£
£
95,089
73,435
5,150
4,131
8,769
8,116
23,138
22,026
145,500
146,158
277,646
253,866
2023
2022
£
£
146,982
165,191
146,982
165,191

11) RESTRICTED INCOME FUND

Building Fund
UNRESTRICTED INCOME FUND
General Fund		 Balance at
Incoming
Outgoing
Balance at
1 March 2022
Resources
Resources
28 Feb 2023
£
£
£
413,733
66,644
-
480,377
Balance at
Incoming
Outgoing
Balance at
1 March 2022
Resources
Resources
28 Feb 2023
£
£
£
£
296,855
28,339
(26,828)
298,366

12) UNRESTRICTED INCOME FUND

SHRI GURU RAVIDASS CULTURAL ASSOCIATION DARLASTON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

13) ANALYSIS OF NET ASSETS BETWEEN FUNDS

Restricted Income Funds:
Building Fund
Unrestricted Income Funds:
General Fund
Total Funds		 Tangible
Net Current
Long Term
Fixed Assets
Liabilities
Liabilites
Total
£
£
£
480,377
-
-
480,377
719,380
(274,032)
(146,982)
298,366
1,199,757
(274,032)
(146,982)
778,743

SHRI GURU RAVIDASS CULTURAL ASSOCIATION DARLASTON

DETAILED STATEMENT OF FINANCIAL ACTIVITES FOR THE YEAR ENDED 28 FEBRUARY 2023

INCOMING RESOURCES:
VOLUNTARY INCOME
Weekly Donation Income
Gift Aid Refunds
Building Fund Donations
Donations
ACTIVITIES FOR GENERATING FUNDS
Diwali
OTHER INCOME
Sundry income
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED:
CHARITABLE ACTIVITIES
Room Hire
Rates and Water
Heat & Light
Insurance
Repairs & Maintenance
Sundry expenses
Bank Charges
Bank Interest
Bank Loan Interest
Donations
GOVERNANCE COSTS
Accountancy Fees
Depreciation
TOTAL RESOURCES EXPENDED
NET INCOMING RESOURCES FOR THE YEAR		 2023
2022
£
£
19,078
12,812
5,558
19,708
66,644
34,500
1,562
225
92,842
67,245
2,131
5,185
10
-
94,983
72,430
500
700
392
79
8,048
2,940
1,194
1,052
436
14,660
245
-
380
633
489
246
8,343
6,201
306
51
20,333
26,562
2,982
1,920
3,513
874
6,495
2,794
26,828
29,356
68,155
43,074