Shri Guru Ravidass Cultural Association Darlaston Trustees's Annual Report and Accounts 29 February 2024 Charity No. 514570
Shri Guru Ravidass Cultural Association Darlaston Contents Page Charity information Report of the Trustees Report of the Independent Examiner Statement of Financial Activities Balance sheet Notes to the accounts
Shri Guru Ravidass Cultural Assoclatlon Darlaston Reference and Admlnistrative Information Trustees (Executive Committee) RK Mehmi Jarnail Singh Rajesh Jassal Reglstered Charfty number 514570 Reglstered offlce 37-38 Pinfold Street Darlsaton West Midlands WS10 7TF Independent Examlner James & Co Consultants Ltd Chartered Certified Accountants 116 Oscott School Lane Bimiingham B44 9EN Bankers Lloyds Bank PO 8ox 46 The Bridge Walasll West Midlands Page 1
Shri Guru Ravidass Cultural Association Darlaston Report of the Trustees for the year ended 29 February 2024 The Executive Committee (Trustees) present their Report and Accounts of the charity for the year ended 29 February 2024. The Accounts have been prepared in accordance with the accounting policies set out in note 1 to the Accounts and comply wth the Charty's governing document, applicable SORP {FRS102), the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Responslbilities of the Trustees The Trustees are responsible for preparing the Trustees, Report and the Accounts in accordance with applicable law and United Kingdom Accounting Standards (Unrted 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 Charty for that period. In preparing those Accounts, the Trustees are required to.. select suitable policies and then applying them consistently., observe the methods and principles in the Charities SORP 2019 make judgements and estimates that are reasonable and prudent; stale whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements., prepare the Accounts on tha going concern basis unless it is inappropriate to presume that the Charity will continue in operation. 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. The statutory responsibility of the Independent Examiner in relation to the Trustees, report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements. Reference and Admlnlstratlve Detalls Reference and administrative details are shown on page 1. Page 2
Shri Guru Ravidass Cultural Association Darlaston Report of the Trustees for the year ended 29 February 2024 Structure, Goverance and Management Shri Guru Ravidass Cultural Association Dadaston (working name of Ravidassia Communrty Centre, Darlaston) was established on 1 December 1983 as an unincorporated association under its constitution, which was last amended on 2 February 2009. The AsscKiation is a registered charity Ino. 514570). The Charity Commission granted pemiission 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 Commiltee. The Executive Commfftee may appoint such sUb0mMItteeS as it sees frt 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, s deemed to be charity trustees. Objectlves and activltles Th ob'ectives of the ssociation To advance religion through the promotion of the teachings of Shri Guru Ravidass Ji and to provide a place of worship according to his teachings.. To advance the education of the inhabitants of Darlaston by the promotion of the culture, language and traditions of Shri Guru Ravidass Ji., To promote facilities for the benefit of the inhabrtants of Darlaston in the interest of social welfare. activities of ociation ar Shri Guru Ravidass Cultural Association currently provides daiEy recitals of hymns and poems and circulates literature on the life and teachings and philosophy of Shri Guru Ravidass Ji. Members and their families are encouraged to pray and follow customs and traditions of Ravidassia Gommunity and partake in specially prepared food. Elderly people have the use of a recreation room and are provided wilh refreshments, newspapers and journals. How our activities deliver Public Benefrt'.- 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 seNices of the religious priest are also available at the temple or in people's homes. Page 3
Shri Guru Ravidass Cultural Association Darlaston Report of the Trustees for the year ended 29 February 2024 Achlevements and perforniance The Management Commrttee continues seeking funding to complete the building and the fitting out of the new Temple and Communty Centre. Covid restrictions severely affected fund raising & donalion 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. Flnanclal Review The finances of the charity are under the control of the Executive Commrttee 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 £52,326 (2023 - £68,155) resulting in total funds at 29 February 2024 of £831,069 (2023 - £778,743). Res•rvès Policy Unrestricted income funds amounted to £331,437 as of 29 February 2024. 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. Wilh 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. Golng Concern At the time of approving the financial stalements, 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. The trustees, report was approved by the Trustees. i/ Date.. R K Mehmi Trustee Page 4
Shri Guru Ravldass Cultural Associatlon Darlaston Independendent Examinerfs Report To the Trustees for the year ended 29 February 2024 I report to the charity trustees on my examination of the accounts for the year ended 29 February 2024. Responslbilities and basls of report As the charitvs trustees, 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 charivs 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 Examinerfs statement I have completed my examination. In last yearfs accounts certain loans due wrthin one year of £145,50Q were raised as a matter of concem because of a lack of sufficient eveidence of infomalion relating to their repayment. These loans are included in the current yearfs accounts at a balance of £140,500. As such it 1$ not possible for me to reach a conclusion on whether the going concern basis of preparation remains appropriate. Therefore, based on the current level of cash reserves and current liabilities, I must report that I have concerns about the charitvs ability lo 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.. accounling records were not kept in respect of the charty 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 'lrue and fair, viewwhich is not a matter con8idered a8 part of an independent examination. I confimi that there are no other matters to which your attention should be dra in this report in order to enable a proper understanding of the accounts to be reached. James & Co Consultants Ltd Chartered Certified Accountants 116 Oscott School Lane Birmingham B44 9EN Date: Page 5
Shri Guru Ravidass Cultural Association Darlaston Statement of Financial Activities for the year ended 29 February 2024 Total Funds 2024 Totsl Funds 2023 Unrestricted Funds Restrithd Funds Notes INCOMING RESOURCES Incoming reources from genèrated funds Vountary Income Activites for generating fvnds 69,519 19,255 88,774 92,842 2,141 Total Incomlng Resourc 69,519 19,255 88,774 94,983 RESOURCES EXPENDED Charitable Activities Governa Costs 4&5 32,287 4,161 32,287 4,161 20,333 6,495 Total Resources Expended 36,448 36.448 26,828 NET INCOMINGI{OUTGOING) RESOURCES Before Transfers Gross Transfers between funds 33.071 19,255 52,326 68,155 Not Incomlngl{Outgoing) Re8ource8 33,071 19,255 52.326 68,155 RECONCILIATION OF FUNDS Tolal Funds brought foNiard 298,366 480,377 778,743 710,588 TOTAL FUNDS CARRIED FORWARD 331,437 499,632 831,069 778,743 The notes on page 8 - 14 fomi part of these accounts. Page 6
Shri Guru Ravidass Cultural Assoclatlon Darlaston Balance Sheet as at 29 February 2024 Notes 2024 2023 Fixed assets Tangible assets 1,197,356 1,199,757 1,197,356 1,199.757 Current assets Cash at bank and in hand 4,106 4,106 3,614 3,614 Creditors: amounts falllng due within one year (242,726) (277,646) Net current Ilablllties (238,620) {274,0321 Total assets less current Ilabllltlas 958,736 925,725 Credltors: amounts falllng due after one year 10 (127,667) (146,982) Total assets less current Ilabllltles 831,069 778,743 FUNDS 11 Restricted funds Unrestricted funds 499,632 331,437 480,377 298,366 TOTAL FUNDS 831,069 778,743 The financial statements were approved by the board of Trustees and signed on its behalf by.. R Jassal- Trustee Date.. R K Mehmi - Trustee Page 7
Shri Guru Ravidass Cultural Association Darlaston Notes to the Accounts for the year ended 29 February 2024 1 Accountlng policies General Information 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 natu 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 benefrt entty was defined by FRS102. The financial slatements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charrties 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 Updale 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 concem basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in slerling which is the functional currency of the charity and rounded to the nea$1 pound. 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 otheiSe Funds Unrestricled 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. Th8 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. Income recognltlon All incoming resources sre included in the Statement of Financial Activities (SOFA) when the charity is legally entitled lo the income after any perfomiance 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 notffjied 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 vitth the SORP (FRS 102). Further detail is given in the Trustees, Annual Report. Fixed asset gifts in kind a recognised when receivable and are included at fair value. They are not deferred over the lrfe of the asset. For legacies, entttlement 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 charty however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy 15 treated as a contingent asset and disclosed. Page 8
Shri Guru Ravidass Cultural Associatlon Darlaston Notes to the Accounts for the year ended 29 February 2024 Expenditure recognitlon All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expendf(ure 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 lating to meeting the objectives of the charity. Govemance costs represents those items not falling into the category above. Irrecoverable VAT is charged as an expense against the activty for which expenditure afOSO. Donations payable to third parties are within the charitable objectives. Flxed Asset8 Tangible fixed assets are stated at cost (or deemed co8t). Cost includes costs directly attributable to making the asset capable of operating as intended. Land & buildings were valued at cost. Depreclation 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 detemiined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the SOFA. Loans and borrowlnos 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 melhod, less impaimient. If an arrangoment constitutes a finan transaction it 18 measured at present value. 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 impaimient loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impaiment loss is a revaluation decrease. Provlsions 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. Page 9
Shri Guru Ravidass Cultural Association Darlaston Notes to the Accounts for the year ended 29 February 2024 Golng Concern The financial statements have been ppared 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 stalements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concem. 2 Voluntary Income Unrestricted Funds Restricted Funds Total 2024 Total 2023 Donatlons Weekly Donation Income Gift aid refunds Building Fund Donations Donations 59,008 10,511 59,008 10,511 19.255 19,078 5,558 66,644 1,562 92,842 19,255 69,519 19,255 88.774 3 Incomlng Resourcés From Actlvltles for Generatlng Funds Unrestrlcted Funds Restricted Funds Total 2024 Total 2023 Dtwali Membership 2,131 10 2,141 4 Costs of Charitsble Actlvity by Fund Type Unrestrlcted Funds Restricted Funds Totsl 2024 Total 2023 Shri Guru Ravidass Darlsaton 36.448 36,448 26,828 36,448 36,448 26,828 S Costs of Charitable Actlvlty by Actlvlty Type Own Activites Total 2023 Total 2023 Donatlons Temple & Commnunity Centre 32,236 51 32,287 20,333 32,236 51 32,287 20,333 Page 10
Shrl Guru Ravidass Cultural Assoclation Darlaston Notes to the Accounts for the year ended 29 February 2024 S Governance Costs Unrestricted Funds Restrfcted Funds Total 2024 Total 2023 Accountancy Depreciation 1,350 2,811 4,161 1,350 2.811 4,161 2,982 2,244 5,226 7 Staff costs No salaries or wages have been paid to the members of the Executive Committee duting the year (2023 - £nil). 8 Tanglble fixed assets Freehold property Flxtures & equlpment Total Cost At 1 March 2023 Additions Disposals At 29 February 2024 1,185,704 410 23,541 1,209,245 410 1,186,114 23,541 1,209,655 Depreclatlon At l March 2023 Charge for the year On disposals At 29 February 2024 9,488 2,811 9,488 2,811 12,299 12,299 Net book value At 29 February 2024 1,186,114 11,242 1,197,356 At 28 February 2023 1,185,704 14,053 1,199,757 9 Creditors: amounts falllng due wlthln one year 2024 2023 Trade creditors Accruals Bank overdrafts Bank Loan accounts Loans 64,702 3,792 10,594 23,138 140.500 242,726 95,089 5,150 8,769 23,138 145,500 277,646 Page11
Shrl Guru Ravidass Cultural Association Darlaston Notes to the Accounts for the year ended 29 February 2024 10 Creditors: amounts falling due after more than one year Bank Loan account 2024 2023 127,667 127,667 146,982 146,982 11 Income Funds At 0110312023 Incomlng Resources Outgolng Resources At 2910212024 Unrestricited funds General fLsnd 298,366 69,519 {36,448) 331,437 Restrlcted funds Building Fund 480,377 19,255 499,632 Total funds 778.743 88,774 36,448 831,069 Page 12
Shri Guru Ravidass Cultural Assoclation Darlaston Detailed Tradlng and Profit and Loss Account for the year ended 29 February 2024 Incomin Resources 2024 2023 Vountary Income Weekly Donation Income Gift aid refunds Building Fund Donations Donations 59,008 10,511 19.255 19,078 5,558 66,644 1,562 88,774 92,842 Activltles For Generating Funds Diwali 2,131 Other Income Memberships 10 Total Incoming Resources 88,774 94,983 Resources Ex ended Charltable Actlvltles Room hire Rates & Water Heat & Light Insurance Repairs and maintenance Bank charges Bank interest Bank loan interest Donations Sundry expenses 300 201 15,723 1,700 1,217 421 1,324 11,033 51 317 500 392 8,048 1,194 436 380 489 8,343 306 245 32,287 20.333 Goverance Costs Accounlancy Depreciation 1.350 2.811 2,982 3,513 4,161 6,495 Total Resources Expended 36,448 26,828 Net {deficit)I surplus for the year 52,326 68.155 Page 13