The Sikh Community and Youth Service
Charity No. 518946
Trustees' Report and Unaudited Accounts
31 March 2024
The Sikh Community and Youth Service Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 1 to 1 |
| Independent Examiner's Report | 2 to 2 |
| Statement of Financial Activities | 3 to 3 |
| Balance Sheet | 4 to 4 |
| Statement of Cash flows | 5 to 5 |
| Notes to the Accounts | 6 to 6 |
| Detailed Statement of Financial Activities | 7 |
Page 1
The Sikh Community and Youth Service Trustees Annual Report
The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 518946
Trustees
The following trustees served during the year:
D.S. DHESY A.S. JOHAL H.S. MATHARU
Accountants
Bilkhu and co ltd 18-20 Navigation Street Walsall
West Midlands WS2 9LT
OBJECTIVES AND ACTIVITIES
SCYS UK has been established for the benefit of the inhabitants of Birmingham and surrounding areas,toprovide specific services of social,welfare,support,education,recreation and leisure,thus enabling beneficiciaries to develop their capacity,both physically and mentally.
SCYS UK initially established to provide information,advice and guidance to the local Sikhcommunity,especially the youth. The organisation has developed further over the last decade and is now able to deliver its services to all communities across Birmingham.The objectices of the organisation are specifically aimed at providing facilities in the interest of social welfare recreation and to support and educate beneficieries. The range of services delivered by the organisation over the years have been quite varies,depending upon the needs of the community and the availability of resources.
ACHIEVEMENTS AND PERFORMANCE
During this period, SCYS UK has continued to deliver a range of services to the local community, from our one stop, “Information, Advice and Guidance Centre” based in Handsworth, Birmingham.
The range of services delivered over the last twelve months have included providing employment support and career guidance to local people, seeking to access employment, providing a range of services aimed at meeting the needs of local disadvantaged women.
We have also continued to provide advice and guidance as well as hands-on support to the local community on all welfare matters including form-filling, benefit advice and support, letter reading, telephone enquiries, etc.
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Page 2
The Sikh Community and Youth Service Trustees Annual Report
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
D.S. DHESY Trustee 31 March 2024
Page 3
The Sikh Community and Youth Service Independent Examiners Report
Independent Examiner's Report to the trustees of The Sikh Community and Youth Service
I report to the trustees on my examination of the financial statements of The Sikh Community and Youth Service for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 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
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Mr sarbjit S Bilkhu Faia,Fmaat Fellow Member of the Associations of International Accountants Bilkhu and co ltd 18-20 Navigation Street Walsall West Midlands
WS2 9LT 31 March 2024
Page 4
The Sikh Community and Youth Service Statement of Financial Activities
for the year ended 31 March 2024
| Notes Income and endowments from: Donations and legacies 3 Investments 4 Total Expenditure on: Other 5 Total Net gains on investments Net income 6 Transfers between funds Net income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds |
Total funds | Total funds | |
|---|---|---|---|---|
| 2024 | 2024 | 2023 | ||
| £ | £ | £ | ||
| 4,109 | 4,109 | 7,674 | ||
| 20,008 | 20,008 | 26,675 | ||
| 24,117 | 24,117 | 34,349 | ||
| 17,347 | 17,347 | 22,599 | ||
| 17,347 | 17,347 | 22,599 | ||
| - | - | - | ||
| 6,770 | 6,770 | 11,750 | ||
| - | - | - | ||
| 6,770 | 6,770 | 11,750 | ||
| 6,770 | 6,770 | 11,750 | ||
| 401,521 | 401,521 | 389,771 | ||
| 408,291 | 408,291 | 401,521 | ||
Page 5
The Sikh Community and Youth Service Balance Sheet at 31 March 2024
| Charity No. 518946 Fixed assets Tangible assets 8 Investments 9 Current assets Cash at bank and in hand Creditors:Amount falling due within one year 10 Net current liabilities Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 11 Unrestricted funds 11 General funds Reserves 11 Total funds Approved by the trustees on 31 March 2024 |
2024 £ 90 561,939 562,029 117,512 117,512 (271,250) (153,738) 408,291 408,291 408,291 408,291 408,291 408,291 |
2023 £ 162 561,939 |
|---|---|---|
| 562,101 81,822 |
||
| 81,822 (242,402) |
||
| (160,580) 401,521 |
||
| 401,521 | ||
| 401,521 | ||
| 401,521 | ||
| 401,521 | ||
| 401,521 | ||
And signed on their behalf by:
D.S. DHESY Trustee 31 March 2024
Page 6
The Sikh Community and Youth Service Notes to the Accounts
for the year ended 31 March 2024
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
-
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 7
The Sikh Community and Youth Service Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 8
The Sikh Community and Youth Service Notes to the Accounts
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 9
The Sikh Community and Youth Service Notes to the Accounts
2 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Investments Total Expenditure on: Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies 4 Income from investments |
Unrestricted £ 4,109 4,109 Unrestricted £ 20,008 - 20,008 |
Unrestricted funds 2023 £ 7,674 26,675 34,349 22,599 22,599 11,750 11,750 11,750 389,771 401,521 Total 2024 £ 4,109 4,109 Total 2024 £ 20,008 - 20,008 |
Total funds 2023 £ 7,674 26,675 |
|---|---|---|---|
| 34,349 22,599 |
|||
| 22,599 | |||
| 11,750 | |||
| 11,750 | |||
| 11,750 389,771 |
|||
| 401,521 | |||
| Total 2023 £ 7,674 |
|||
| 7,674 | |||
| Total 2023 £ 26,623 52 |
|||
| 26,675 |
Page 10
The Sikh Community and Youth Service Notes to the Accounts
5 Other expenditure
| Employee costs Motor and travel costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 6 Net income before transfers This is stated after charging: Depreciation of owned fixed assets 7 Staff costs Salaries and wages No employee received emoluments in excess of £60,000. 8 Tangible fixed assets Cost or revaluation At 1 April 2023 At 31 March 2024 Depreciation and impairment At 1 April 2023 Depreciation charge for the year At 31 March 2024 Net book values At 31 March 2024 At 31 March 2023 |
Unrestricted £ 8,320 134 4,339 72 1,146 3,336 17,347 2024 £ 72 2024 8,320 8,320 £ 78,028 78,028 77,866 72 77,938 90 162 |
Total 2024 £ 8,320 134 4,339 72 1,146 3,336 17,347 £ 17,412 17,412 17,412 - 17,412 - - |
Total 2023 £ 13,275 - 7,145 72 47 2,060 |
|---|---|---|---|
| 22,599 | |||
| 2023 £ 72 2023 13,275 |
|||
| 13,275 | |||
| £ 95,440 |
|||
| 95,440 | |||
| 95,278 72 |
|||
| 95,350 | |||
| 90 | |||
| 162 |
Page 11
The Sikh Community and Youth Service Notes to the Accounts
9 Investments
| Cost or revaluation At 1 April 2023 At 31 March 2024 Net book values At 31 March 2024 At 31 March 2023 10 Creditors: amounts falling due within one year Other loans Loans from trustees Accruals 11 Movement in funds Restricted funds: Unrestricted funds: General funds Total funds 12 Analysis of net assets between funds Fixed assets |
2024 £ 241,082 28,848 |
Freehold Investment Property £ 561,939 561,939 561,939 561,939 |
Total £ 561,939 |
|
|---|---|---|---|---|
| 561,939 | ||||
| 561,939 | ||||
| 561,939 | ||||
| 2023 £ 241,082 - |
||||
| 1,320 | 1,320 | |||
| At 1 April 2023 401,521 401,521 |
271,250 Incoming resources (including other gains/losses ) £ 24,117 24,117 |
Resources expended £ (17,347) (17,347) Unrestricted funds £ 90 |
242,402 | |
| At 31 March 2024 £ 408,291 |
||||
| 408,291 | ||||
| Total £ 90 |
||||
| Investments | 561,939 | 561,939 | ||
| Net current assets | (153,738) 408,291 |
(153,738) | ||
| 408,291 |
Page 12
The Sikh Community and Youth Service Notes to the Accounts
13 Reconciliation of net debt
| 13 Reconciliation of net debt | |||
|---|---|---|---|
| Cash and cash equivalents Borrowings Net debt |
At 1 April 2023 £ |
Cash flows £ |
At 31 March 2024 £ |
| 81,822 | 35,690 | 117,512 | |
| 81,822 (241,082) |
35,690 | 117,512 (241,082) |
|
| - | |||
| (241,082) (159,260) |
- 35,690 |
(241,082) | |
| (123,570) | |||
Page 13
The Sikh Community and Youth Service Statement of Cash flows for the year ended 31 March 2024
| Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Dividends, interest and rents from investments Increase/(Decrease) in trade and other payables Net cash provided by/(used in) operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2024 £ 6,770 72 (20,008) 28,848 15,682 20,008 20,008 - 35,690 81,822 117,512 |
2023 £ 11,750 72 (26,675) (1,440) |
|---|---|---|
| (16,293) 26,675 |
||
| 26,675 | ||
| 4,670 | ||
| 15,052 | ||
| 66,770 | ||
| 81,822 | ||
| Components of cash and cash equivalents | ||
| Cash and bank balances | 117,512 | 81,822 |
| 117,512 | 81,822 |
Page 14
The Sikh Community and Youth Service Detailed Statement of Financial Activities
for the year ended 31 March 2024
| Income and endowments from: Donations and legacies Investments Total income and endowments Expenditure on: Employee costs Salaries/wages Motor and travel costs Vehicles - Fuel Premises costs Rates Light, heat and power Premises insurances Premises repairs and maintenance Other premises costs General administrative costs, including depreciation and amortisation Depreciation of Equipment expensed Equipment repairs and maintenance Stationery and printing Sundry expenses Telephone, fax and broadband Legal and professional costs Audit/Independent examination fees Other legal and professional costs |
Unrestricted funds 2024 £ 4,109 4,109 20,008 - 20,008 24,117 8,320 8,320 134 134 879 2,149 304 1,007 - 4,339 72 72 - 1 1,024 49 1,218 400 2,936 |
Total funds 2024 £ 4,109 4,109 20,008 - 20,008 24,117 8,320 8,320 134 134 879 2,149 304 1,007 - 4,339 72 72 - 1 1,024 49 1,218 400 2,936 |
Total funds 2023 £ 7,674 |
|---|---|---|---|
| 7,674 | |||
| 26,623 52 |
|||
| 26,675 | |||
| 34,349 13,275 |
|||
| 13,275 | |||
| - | |||
| - | |||
| 849 3,549 535 - 2,212 |
|||
| 7,145 | |||
| 72 - 2 - - 45 |
|||
| 119 | |||
| 2,060 - |
Page 15
The Sikh Community and Youth Service Detailed Statement of Financial Activities
| The Sikh Community and Youth Service Detailed Statement of Financial Activities |
|||
|---|---|---|---|
| Total of expenditure of other costs Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
3,336 17,347 17,347 - 6,770 6,770 - 6,770 401,521 408,291 |
3,336 17,347 17,347 - 6,770 6,770 - 6,770 401,521 408,291 |
2,060 |
| 22,599 | |||
| 22,599 - |
|||
| 11,750 | |||
| 11,750 - |
|||
| 11,750 | |||
| 389,771 | |||
| 401,521 |
Page 16