Guru Ram Das Project - Charities report - 22.2
Guru Ram Das Project - Charities report - 22.2
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements for the Year Ended 31st March 2023 |
| for |
| Guru Ram Das Project |
| Guru Ram Das Project |
| Contents of the Financial Statements |
| for the Year Ended 31st March 2023 |
| Page |
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 | to | 12 |
| Guru Ram Das Project (Registered number: 04670669) |
| Report of the Trustees |
| for the Year Ended 31st March 2023 |
| The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
| COMMENCEMENT OF ACTIVITIES |
| The Charity is a charitable company limited by guarantee and was set up on 22nd July 2003. |
| ACHIEVEMENT AND PERFORMANCE |
| Charitable activities |
| The focus of the charity is to serve the community through delivering a range of services that help people and groups to live happily and healthily in mind, body and spirit. The charity works with beneficiaries who are disadvantaged whatever their faith or background. |
| The core of the charity's work in 2023/24 was the delivery of services (kundalini yoga & meditation classes) to those in need, for example people in drug & alcohol rehabilitation, the elderly (including those with dementia), mental health service users and the homeless. |
| The charity continued to offer support to its teachers, including access to specialist advisors in related fields (e.g. yoga therapy, yoga teacher training, medicine, psychological therapy). |
| Project Work continued, most notably with the Prisons Project and Shirley Fund to support older adult classes. |
| Volunteers |
| Very importantly, the charity is thankful for the efforts of its many volunteers who are involved in service provision and fundraising events. Most services delivered in this financial year have been on a voluntary basis. It is estimated that a total of over 2036 (2022 - 1,905) hours were provided during the year. This rise in voluntary hours is consistent with the gradual increase in services and is now back at a similar level to 2020 (2,100). This is very heartening given the challenges of recent years (Brexit, Covid, Yogi Bhajan allegations, Cost of Living). If volunteer hours are conservatively valued at £12.50 an hour, this volunteer effort amounts to £25,450 (2022 - £23,813). |
| These totals for voluntary hours include teachers who are teaching classes GRDP has set up. GRDP also supports teachers who have set up their own classes with vulnerable people. Their teaching hours are not included here. |
| FINANCIAL REVIEW |
| Financial position |
| The Statement of Financial Activities for the year ended 31 March 2023 is set out on page 6 of the financial statements. |
| A summary of the expenditure in relation to the work of the charity is set out below. |
| Programme expenditure amounted to £3,173 (2022 - £3,257). For GRDP this expense has never been an accurate indicator of the overall level of service provision because much of our service delivery is provided by volunteers. Instead, programme expenditure is a generally a reflection of how many classes have been paid for by other organisations. Most of the income generated this way is paid out to teachers as fees. These fees make up the majority of programme expenditure. |
| Project support costs were £7,481 (2022 - £0). This large increase is almost entirely due a change in how the expense of employing a project manager is allocated. The change was made to reflect that a significant amount of project management time is used establishing or running classes and projects. Also included in the total cost is £76 which was spent on volunteer travel and a DBS check. The reason the charity did not pay for DBS checks or travel in 2022 is that partner organisations often pay for these costs. |
| Guru Ram Das Project (Registered number: 04670669) |
| Report of the Trustees |
| for the Year Ended 31st March 2023 |
| FINANCIAL REVIEW |
| . |
| Management and administration costs amounted to £2,539 (2022 - £8,659). This difference is similarly explained by the reallocation of costs for employing a project manager. This expense represents the core costs of running the charity. |
| Fundraising expenditure is up in 2023 to £3,203 (2022 - £822). This increase is mainly due to the cost of running a series of gong baths in London, Manchester, Liverpool and Birmingham. These sessions were commissioned by Buckt and GRDP was able to offer payment to all of the gong players who participated. |
| Total expenditure in 2023 was £16,396 (2022 - £12,738). Most of this increase is because of fundraising expenses, though charitable expenditure also went up. |
| The total income in 2023 was £10,992 (2022 - £7,146). This increase in income is mostly due to an increase in GRDP's fundraising activity rather than changes in donations or fees from project work. It should be noted that the cost of raising an additional £3,284 from GRDP's direct fundraising activities was £2,381. Whilst this might not seem like a great return on investment, the biggest additional fundraising activity of 2023 (a series of gong baths in each of four major cities) created a valuable therapeutic space for members of the public. The only reason this activity was designated as fundraising rather than project work is because that was its original intention. |
| The overall income for 2023 (£10,992) still does not compare favorably with the pre-pandemic levels of 2020 (£14,435). This difference between 2023 and 2020 is believed to be mainly caused societal upheaval and changes in the yoga community (Brexit, Covid, cost of living, allegations about Yogi Bhajan). |
| Reserves policy |
| Reserves are defined as undesignated, unrestricted funds. Net free reserves are defined as undesignated, unrestricted funds less the net book value of tangible fixed assets. |
| Accumulated unrestricted reserves at 31 March 2023 amounted to £26,024 (2022 - £31,369). This is £5,345 down from the previous year. The restricted reserves at balance sheet date amounted to £3,450. (2022 - £3,509). The total funds at 31st March 2023 amounted to £29,474 (2022 - £34,878). This is a loss of £5,404 and continues a trend that began in 2021 following the onset of the pandemic. |
| The Reserves Policy of the Trustees remains that of maintaining a minimum net free reserves equivalent to six months of operating costs. |
| FUTURE PLANS |
| Having regained the service provision levels of pre-pandemic years, GRDP is still working to increase revenue and visibility. This will then provide the necessary platform to continue expanding services to those in need and to continue establishing ourselves as a centre for excellence in the field of yoga provision for those who are vulnerable. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
| Guru Ram Das Project (Registered number: 04670669) |
| Report of the Trustees |
| for the Year Ended 31st March 2023 |
| The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
| The charity is managed by the Trustee body and run with the help of volunteers and self employed workers. The Trustees of the charity have been outlined on page 1 of these financial statements. The memorandum and articles of association provide that the Trustees must consist of at least three and not more than eight individuals, all of whom must be members of the charity, with one third retiring at each AGM. New Trustees, who must also be members of the charity, are appointed by the Trustee resolution and hold office until the next AGM. The Trustees must hold at least two meetings each year. Company and charity law requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the period. In preparing those financial statements, the Trustees are required to: |
| - select suitable accounting policies and then apply them consistently; |
| - make judgements and estimates that are reasonable and prudent; |
| - state whether applicable accounting standards have been followed, subject to material departures |
| - disclosed and explained in the accounts; and |
| - prepare the accounts on a going concern basis unless it is inappropriate to presume that the charity will continue in operation. |
| Risk management |
| The Trustees have overall responsibility for ensuring that the charity has appropriate systems of control, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities and to provide reasonable assurance that: |
| - the charity is operating efficiently and effectively; |
| - its assets are safeguarded against unauthorised use or disposition; |
| - proper records are maintained and financial information used within the charity or for publication; |
| - is reliable; and |
| - the charity complied with relevant laws and regulations; |
| The systems of internal control are designed to provide assurance against material misstatement or loss. They include: |
| - a strategic plan, an annual operating plan and an annual budget approved by the trustees; |
| - regular consideration by the Trustees of financial results and variance from budgets; |
| - delegation of authority and segregation of duties; and |
| - identification and management of risk. |
| As part of this process, the Trustees continue to review the adequacy of the charity's current internal controls. Included in this control process is the work of the internal audit function, which carries out a number of risk-based assessments. The Trustees in view of the current operations and control they exercise, do not consider the need to appoint a specific internal auditor. |
| The Trustees have introduced a formal risk management process to assess business risks and implement risk management strategies. This has involved identifying the types of risks the charity faces, prioritising them in terms of potential impact and likelihood of occurrence, and identifying means of mitigating the risks. |
| The Trustees believe that the charity's internal financial controls conform to the guidelines issued by the Charity Commission. |
| Equal Opportunities Policy |
| The charity is an equal opportunities employer and applies objective criteria to assess merit. It aims to ensure that no job applicant or employee receives less favourable treatment on the grounds of age, race, colour, nationality, ethnic or national origin, marital status, gender, gender reassignment, sexual orientation, disability, religion or belief. |
| Guru Ram Das Project (Registered number: 04670669) |
| Report of the Trustees |
| for the Year Ended 31st March 2023 |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| Company Secretary |
| Independent Examiner |
| Mrs J D Frost |
| Andrew Miller & Co |
| The Mews |
| Stratton Cleeve |
| Cheltenham Road |
| Cirencester |
| Gloucestershire |
| GL7 2JD |
| Advisers |
| Bankers |
| TSB |
| Crouch End Branch |
| 34 The Broadway |
| London N8 9SH |
| CAF Bank Limited |
| 25 Kings Hill Avenue |
| Kings Hill |
| West Marling |
| Kent ME19 4JQ |
| Approved by order of the board of trustees on |
| Independent Examiner's Report to the Trustees of |
| Guru Ram Das Project |
| Independent examiner's report to the trustees of Guru Ram Das Project ('the Company') |
| I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2023. |
| Responsibilities and basis of report |
| As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
| Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
| Independent examiner's statement |
| I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
| 1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
| 2. | the accounts do not accord with those records; or |
| 3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or |
| 4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
| 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 accounts to be reached. |
| Mrs J D Frost |
| Andrew Miller & Co |
| The Mews |
| Stratton Cleeve |
| Cheltenham Road |
| Cirencester |
| Gloucestershire |
| GL7 2JD |
| 13th December 2023 |
| Guru Ram Das Project |
| Statement of Financial Activities |
| for the Year Ended 31st March 2023 |
| 2023 | 2022 |
| Unrestricted | Restricted | Total | Total |
| funds | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Other trading activities | 2 |
| Total |
| EXPENDITURE ON |
| Raising funds | 3 |
| Charitable activities |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
| Transfers between funds | 10 | 1,058 | (1,058 | ) | - | - |
| Net movement in funds | ( |
) | ( |
) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 34,878 |
| Guru Ram Das Project (Registered number: 04670669) |
| Balance Sheet |
| 31st March 2023 |
| 2023 | 2022 |
| Unrestricted | Restricted | Total | Total |
| funds | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 10 |
| Unrestricted funds | 31,369 |
| Restricted funds | 3,509 |
| TOTAL FUNDS | 34,878 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006. |
| The trustees acknowledge their responsibilities for |
| (a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
| These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
| The financial statements were approved by the Board of Trustees and authorised for issue on |
| Guru Ram Das Project |
| Notes to the Financial Statements |
| for the Year Ended 31st March 2023 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| Income |
| All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
| Expenditure |
| Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
| Taxation |
| The charity is exempt from corporation tax on its charitable activities. |
| Fund accounting |
| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
| Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
| 2. | OTHER TRADING ACTIVITIES |
| 2023 | 2022 |
| £ | £ |
| Fundraising events |
| Guru Ram Das Project |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st March 2023 |
| 3. | RAISING FUNDS |
| Raising donations and legacies |
| 2023 | 2022 |
| £ | £ |
| Support costs |
| 4. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31st March 2023 nor for the year ended 31st March 2022. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31st March 2023 nor for the year ended 31st March 2022. |
| 5. | STAFF COSTS |
| The average monthly number of employees during the year was as follows: |
| 2023 | 2022 |
| Office |
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Restricted | Total |
| funds | funds | funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Other trading activities |
| Total |
| EXPENDITURE ON |
| Raising funds |
| Charitable activities |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
| Transfers between funds | 686 | (686 | ) | - |
| Net movement in funds | ( |
) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 36,954 | 3,516 |
| Guru Ram Das Project |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st March 2023 |
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
| Unrestricted | Restricted | Total |
| funds | funds | funds |
| £ | £ | £ |
| TOTAL FUNDS CARRIED FORWARD | 31,369 | 3,509 | 34,878 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Prepayments and accrued income |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans and overdrafts (see note 9) |
| Accrued expenses |
| 9. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2023 | 2022 |
| £ | £ |
| Amounts falling due within one year on demand: |
| Bank overdrafts |
| 10. | MOVEMENT IN FUNDS |
| Net | Transfers |
| movement | between | At |
| At 1/4/22 | in funds | funds | 31/3/23 |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 31,369 | (6,403 | ) | 1,058 | 26,024 |
| Restricted funds |
| Other restricted funds | 2,009 | 999 | (1,058 | ) | 1,950 |
| Haringey Borough Council, London | 1,500 | - | - | 1,500 |
| 999 | ( |
) |
| TOTAL FUNDS | (5,404 | ) | 29,474 |
| Guru Ram Das Project |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st March 2023 |
| 10. | MOVEMENT IN FUNDS - continued |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 7,417 | (13,820 | ) | (6,403 | ) |
| Restricted funds |
| Other restricted funds | 3,575 | (2,576 | ) | 999 |
| TOTAL FUNDS | ( |
) | (5,404 | ) |
| Comparatives for movement in funds |
| Net | Transfers |
| movement | between | At |
| At 1/4/21 | in funds | funds | 31/3/22 |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 36,954 | (6,271 | ) | 686 | 31,369 |
| Restricted funds |
| Big Lottery Fund | 6 | - | (6 | ) | - |
| Other restricted funds | 2,010 | 679 | (680 | ) | 2,009 |
| Haringey Borough Council, London | 1,500 | - | - | 1,500 |
| 3,516 | 679 | (686 | ) | 3,509 |
| TOTAL FUNDS | 40,470 | (5,592 | ) | - | 34,878 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 4,309 | (10,580 | ) | (6,271 | ) |
| Restricted funds |
| Other restricted funds | 2,837 | (2,158 | ) | 679 |
| TOTAL FUNDS | 7,146 | (12,738 | ) | (5,592 | ) |
| Guru Ram Das Project |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st March 2023 |
| 10. | MOVEMENT IN FUNDS - continued |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net | Transfers |
| movement | between | At |
| At 1/4/21 | in funds | funds | 31/3/23 |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 36,954 | (12,674 | ) | 1,744 | 26,024 |
| Restricted funds |
| Big Lottery Fund | 6 | - | (6 | ) | - |
| Other restricted funds | 2,010 | 1,678 | (1,738 | ) | 1,950 |
| Haringey Borough Council, London | 1,500 | - | - | 1,500 |
| 3,516 | 1,678 | (1,744 | ) | 3,450 |
| TOTAL FUNDS | 40,470 | (10,996 | ) | - | 29,474 |
| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 11,726 | (24,400 | ) | (12,674 | ) |
| Restricted funds |
| Other restricted funds | 6,412 | (4,734 | ) | 1,678 |
| TOTAL FUNDS | 18,138 | (29,134 | ) | (10,996 | ) |
| 11. | RELATED PARTY DISCLOSURES |