CHAIUTY REGISTRATION, NUMBER: A017903 Gurunanak Charitable Ti'ust Financial Statements For the Year Ended 5 April 2024 BEEVER AND STRUTHERS Chaitered accoiintants & statutoiy aiiditor One Express l George Leigh Sti'eet Manchester M4 5DL
Gurunanak Charitable Trust Flnancial Statements Year Ended 5 Aprll 2024 Pages Trustee.¥' Aniiual R¢porf Ito3 Ind¢peiidei)t Auditor's Report to the Members 4t08 Si#leinei)l of Financial Activilies Slllleinenl of Financial Posilion io Staleinent of Cash Flows li Notes ro the Ftnancial Statemenls 12tolS
Gurunanak Chai'itable Trust Trustees, Annual Report Year Ended 5 April 2024 The ttustecs present their report and the fiiiancial statements of the chaTity for the year eiidcd S April 2024. Structui'e Goi'eriiance aiid Mi anagemeiit The tijjsl ivas establisl)ed b)? Itust d¢ed ii) FebialY 1993 b)1 Jasiviiider Siiigh Kolili aiid othei's. Tlie day io day Inanagenieiit ol tlie lrnst is perfoniied by Mr B Siiigh. Tlie Charitable Tst is iegistered uiidei- iiumber l 017903. Trustees The Irustees M,ho sen'ed during the year i4Tere:_ Mr N.S Kohli Mr B Siiigh Mr J.S Kohli All tlie trustees Jianied above sersTed for tlie ivhole of the year, and all have long experielice of b¢iiig a charity ttuslee. Delails of reniuneration aiid reimbursenient of expeiises are disclosed iii iiote l O to the accounls. Wlieii neiv Ir1151ees are appointed they are giveii a formal induction to the work of the tnist aiid provided wilh tlie iiiforii)alion tliey iieed to fulfill their roles, which iiicludes inforination about the role of trit5tees aiid ¢liarity laiv. Neiv trustee5 are Iiomiiiafed by nienibei's of the board of tiuslee5 and appointed 11,here they have the i)ec¢ssary skills to coiitribute to the cliarit5r's Inanagenieiit ai)d developiiiei)t. Eacli trustee takes respoiisibility for monitoriiig the trust's activities. Mr J S Kolili ha5 specific respoiisibility for coJilrollii)g tlie cliarilablc ivorf( overseas, aiid Mr B Singh has respoiisibility foi- the day-to-day n)ai)ageinei)t of fiiiid I'aisiiig activities iii tlie Uiiited Kingdoni. Objectives and Actii'itie5 The Irust a5SlSts recogiiised charilies, i'eligious Projecls ai)d helps iiecdy i)Idividuals by way of trustees pi-omoling the cliai'tt),. Tl)e charity tnisiecs confirm Ihai diie regard has been paid 10 Ilie piiblic benefit guidance piiblished by the Cljaj'ily Coiiiniission. Aclilevements and Pei'foi'manet Tli¢ trusl¢es haiTe revieiv¢d tli¢ p¢rformaiice of th¢ charity for lh¢ y¢ar to S April 2024 and are pl¢ased tl)at th¢s' have ii)et tlie objeclives set al ihe begtnniiig of il)e year. Diiring the year tlie tn]st received £1.230.535 (2023 £1,044,200) 2nd has paid £1. k45.336 {2023 - £923,423) to reeognised cliarities aiid need), persons, aiid on charitable goods aiid services. Tlie charity had I'eserves of £869,315 at the end of tlie year (2023 £774,947). All reserves are uiii'esti'icted. Risk lngel11et Tlie tnistees have assessed the risks the charity faces and ih¢y ar¢ salisficd that sysl¢nis ai¢ in plac¢ to i)?ana&>ed Ibose risks identified. Futui'e Plans Tlie cliarity plaiis to coi)liiiiie the activities outlined Rboi'e in tlie forlhcoming years.
Gurunanak Charitable Trust Trustees, Annual Report levniliiued) Year Ended S April 2024 Financial Revieiv The Iruslees do nol cominit lo funding projects unless the resenics are aipailable to thein. As a Tesult of the lifting of son)e of Ihc re51rictioiis iyhich ha1npeYe(I Ilie funding of operalioiis, iiormal operalioiis are i'¢tuniing aiid the inlention is for the accumulate(I rcsen'e5 to be distribuled in line ivith the charity's obj¢cliiies funding Idrger pi'oject iii India ov¢r sev¢ral years. Refei'ence aiid Admlnlstyatli'e Detfii15 ReElstei'ed cli*rfity naine GurnnaF)ak Charitable Trnst Chftrlty reglstr&tlon nuiiiber 1017903 Prlnclp3tl offzce 12 Sherbon)e Sireet Manchesler MI IFE The Tj'ustees MrJ S Kohli Mr N S Kohli Mr B Siiigh Audltoi. Beever and Struthers Chartered accounlanls & slatutory audiior Oiie Expi'ess l Georg¢ Leigh Street Maiichestei. M4 5DL Baiikei's Bank ofscot12nd 300 Lawnn)arket Edinburgh Scotlaiid EHI 2PH
Gurunanak Charitable Trust Trustees, Annual Report (fOMiliiiieél) Year Ended 5 April 2024 The Irustees, ai)nual report ilias approved 01124 January 2025 and signed on b¢haifof Ihe l)oard of ITuslees by.. MT J S Kohli Trustee Mr N S Kohl) Truslee Mr B Singh Trustee
Gui'unanak Chai'itable Ti'ust Independent Auditoy's Report to the Menibers of Gurunanak Chai'Rtable Trust Year Ended S April 2024 Opiiiioii Vc have audiled the fjiiancial statemeiils of Giirunaiiak Charitable TTUSt {Ih¢ 'cl)arity') for the year ended 5 April 2024 ivhicli compt-ise ilie staleinenl of fiiiajicial activities, statemeiit of fii)aii¢i<il p051tioii, stalcmei)l of Clish floiv5 aiid the related notes, including a summary of significaiil accountiiig policies. The fiiiaiicial reportiiig fraineivork ihal has been applied in their preparation is applicable laiv aiid United Kiiigdom Accouiiling Slaiidards. iii¢ludiiig FRS 102 The Fiiiancial Reportii)g SlaiidArd applicable in th¢ UK and Repiiblic of Irelaiid (Uiiited Kingdom Geiierally Accepted Accountii)g Pra¢lice). In oui- opiiiion the financial statement5'. give a true and fair vieiii of tl?e 5tat¢ of the charity's affairs as at 5 April 2024 and of ils incoming resources and application of resources. including its income and expeiiditure, for the yeol. then ended. l)ave beeii properly prepared in accordance with United Kingdoni Generally Accepted Accouiitiiig Praclice. Iiave beeii prepared in accordance Ivith the requirements of tlie Charilies Act 2011. Ba5TS for Opillioji We coiiducled our audit iii accordanc¢ ivith Inlernalioiial Standards oil Auditiiig (UK) {ISAs (UK)) aiid applicable aiv. Our respoiisibilitics uiidcr those 51ai)dards ar¢ furih¢r described iii the auditor'5 Tespoi)sibilili¢s for the audit ofthc finaiicial stalenient5 section of our report. Ille are indcpcfft)dei)l of the charity in accordance iviih the eihical requireiiients that are Televaiit to our audii of the fiiiancial slalemeiils in the UK, including tlie FRC',s Etliical Slaiidard, aiid we have fiilfilled our oilier ethical respojisibililies in accordance iitith these requiremeiits. We believe tliat the audit eiwidence ive have obtained is sufficient ai)d appropriate to provide a basis for our opijiion. Conclusioiis Relatiiig to Going Concern In auditing the fiiiancial slaleijienls, iiie hai*e coiicluded that Ihe trnstees, usc of the goÉiig concern basis of aceounliiig in the preparatioii of the fiiiailcial 5talenieiits is appropriale. Based on Ilie iiiork Mte liave perfomicd, Ive l)ave not ideijlified any material uiic¢rlaiiiti¢s relaliiig lo eveiiÈs or coiiditioris (lial, iiidividualljft or collectively, niay cast significa111 doubt oil tlic cliarÉty's ability to coi)liiiue as a goiÈig conceim for a period of al least tivelve inonths fn)In ivheii tlie finaiicial siateiiients are auilioriscd foi. issiic, Our responsibilities and tlie responsibilities of the tnisiees iviih respect lo going conccni arc d¢5cribed iii Il)¢ r¢levaiiS sections of ihis repoi'l.
Gurunanak Charitable Trust Independent Auditoy's Report to the Member5 of Gui'iinanak Chai"itable Trust (coiihiiiied) Year Ended 5 April 2024 Other liiformation Tlie oihei- iiifoiinatioij compriscs the inforinalioii included in the ¢1nnual itport, oil)er than the fli)14 1)cial statemciits aiid oui. auditoi s repoit thereoii. The tTUSt¢es ale responsible for tlie oihei. iiifoiination. Our opinioii oli Ilie fiiiaiicihl slaleincnts does iiol cover the otlier iiifoiination and, ¢xc¢pt to the extent othenvise explicitly stated iii oui. I'eporl, 14'e do not express any fonn of assurdiice conclusion tljereon. In conneclioii with our audit of the financial Slatemciits, our responsibility is to IEad the other informatioii aiid, iii doing so, considei. wli¢iher Ilie other iiiformalion is nialcrially inconsistent ivith ihc tinancial statemeiits or our kiioii,ledge obtained in the audtl or otheniryse appears to bc mat¢rially inisstated. It" Mrc identify such inalei'ial iIICOlls1.slen¢i¢s oi. #pparenl material mis5tate171ents, iiie are required to delemiine ivheilier Ih¢rc is y nialei'ial mis5tatemenl in the f1naiicial slatejnenls or a inateTial misstat¢n)ent of the other infoiinalioii. If, based 011 the iiiork li'e liai'e perfoiirjed, Ive conclude ihat ihere is a material missiatement of this other inforiiialioii, we are iequii'¢d lo report that fact. We have nothing to reporl in this regard. )la¢ters Ivliicli Ive are Required to Report by Excepllon Jn Ilie liLvhi of Ilie kiioivledge and underslandfjng of Ili¢ charity and its environnient oblained in Ilie course of thc aiidit, we havc not ideiilified Jnaterial misstatements iii the tn]stees' report. We have nothiiig to report in respect of the folloiving matters in relatioii to which the Charities Act 201 I requiieg us to report to you if, iii our opiiiioJi-. the iiifi)rrnation giiJ¢n in tlie tn]stees' report is iiiconsisteiit in any inatertal respect ivith the fiJ)ancial slateii)ents' or 8dequaie accounting records haiie not been kepl: or the finaiicial slalenients are iiot in agreement ii•ith ihe accounting records and retUrn5' or w¢ l)ave Iiot recelvcd all ihe informatÉon and explanations Ive requirc for our audit. Responsibilltles of Ti'us¢ees As explaiiied niore fully Èn ilic ttvsl¢cs' rc5ponsibilities statement, the tnistees are respoiisible for the preparatioii of tli¢ fiiiaiicial stalenieiils aiid for being salisficd tliat they give a true and fair i?ieiii aiid for sucli Iiiteriial coiiti'ol a.s Ilie liSlee5 delerniine is iiec¢ssary lo enable the preparation of fii)ancial statcnienls IliRI are free froni material 11118StateAn¢iit, Ivlieiher due to fraud or error. Til prepRriiig tlie fjiiaiicial statcmcnls, tl)e trusle¢s are responsible for a5sessii?g tlie charity's ability to continue as a goiiig coiicerii, disclosii)g, as applicable. Inatters related to goiiig coiicern aiid usiiig the going coiicerii basis or accouiiliiig uiiless Ihe trustees ¢ither inleiid to liquidate tlie charity or to cease opeixtions. or l)ave iio realistic altei'iTrativc but lo do so.
Gurunanak Charitable Trust Independent Auditoi s Report to the Trlembers of Guruiianak Cliaritable Trust (coiiiiiiiied) Year Ended 5 April 2024 Audltor's Respoiislbllltles for the Audit of the Flnincial Statements Our objectives are to obtain rea5011able as5ui7nce aboul ivhether ihe fiiiancial statenjents as a ivliole al'e free froiii mat¢Yldl inisslatement, wheiliei. diie to f17ud or error, ai)d ro issue ali auditoi-'s report tliat includes oiii- opillioii. Reasonable assu)'an¢e is a higli level of assurance. but Is iioi a guarantee that an aiidil coiiducted in a¢¢oi'dance Ivilh ISAS (UK) iiyill alivays de¢e¢t a material misslalement when it extsts. Misstalemenls cali arise froiii fraud or ¢i'roi' and are consideyed Inaterial if, iiidiiiidually or iii the aggregate, Ihey could i'easoiiably be expected lo influeiice the ecoiioiiii¢ decisioiis of users taken on the basis of these fiiiancial stat¢i)Iciits. IrregEilai'ities, iiicluding fraud, are instances of non-coinplTancc wilh laii's and regulations. We design pi'oc¢duirs in liiie lilith our iesponsibilities. outlined aboi'e, to detect niaterial misslateinenls in respect of iTTegularilies, including fTaud. The extent to ii,hich our procedures are capable of detccling iiiegularilies, including fraud is detailed belom,: The exteiit to Ivhlch the audlt was consldei'ed capable of delecllng lyregularilies including fraud Our approach to identifying and assessiiig the risks of Jiiaterial misstatemenl in respect of irregularilies, iiicludiiig fraud aiid Iion-compliance ivith laiys and regulatlDllS. Ivas as folloivx: tlie etigagenieiit partnei. ensured that the engagen)ent leani collectively had Ihe appjopriate coinpcteiice, capabilities and.skills to ideiitify or recognise non-compliance ivith applicable laws and regulations. Ive ideijtified ili¢ laws and regulations applicable lo Ihe charitable coinpaiiy from our coininercial knoivledge and experieiice of tlie charEty sector. ve focused oli specific laws and regulations ii,hich ive coiisidered may have a direct malcrial effect on tlie fiiiaiicial stateinents or tlie operalioi)s of the charitable compaiiy, includiiig th¢ Coinpaiiie5 Act 2006, the Charities Act 2011 ai)d data prot¢clion. we assessed ihe extent of con)pliance wilh the laiiis and regulations identifjed aboi'e through making enquiries of iiianagem¢i)l and ij)sp¢cting legal corre5poI)dence. idei)lified laivs 1]d regulations ivere communicated iviihin ihe audil teain Tegularly and th¢ teani I'emained aleri lo instances of iioi)-coiiiplianc¢ tl)rouglioul the audit. Wc asscsscd the susceptibility of the charilable compaiiy's finaiicial slat¢n)¢iits to matei'ial i)iissl?l¢m¢Jit. including oblainiiig an uiiderslaiidii)g of Iiow fraud niight occui-, by- making eiiquiries of iiiaiiagenient as to ivhere tliey consid¢r¢d Ili¢r¢ was su5ceplibility lo fraud, tlieii- knoiipledge of actual. suspected and alleged fraud. constdering tlie intei'nal coJ)trols in place lo niiligatc risks of fraud ai)d noii-compliaiice iiiiili laws aiid regulatioiis. TI) address the risk of fraud IhiDugh manageinent biks aiid override ofcoiilrols. we- perfornied ai)alytical procedures on income and expenses to idciitify any unusual or unexpeclcd relalioiishii)s. tested joiirnal entries lo id¢nlify unusiial IrAnsaclions. iiivestigated Ihe i'ationalc b¢hind significant or unusual IransaclÉoiis.
Gurunanak Charitable Trust Indepeiident Auditor's Report to the Members of Gurunanak Cliaritable Trust (roiihiiiied) Year Ended 5 April 2024 As Pi2rl of an audit iii accordaiice iviih ISAS (UK), we exercise profes5ioiial judginent aiid InaiTitain pi-ofessi011al scepiicism throughout the audil. Wc also: Id¢iitify and assess the I'isks of nialerial misstaleiment of th¢ financial statements, Ivlieth¢r due lo fraud oi. ei'ror, desigi) ai)d perfomi audit procedures responsive to those iisks, aiid obtain audit evideiice that FS sufficient and appiopriate lo provide a basis for ouropiiiioii. The rTsk ofjiol detecliiig a niatei-ial i))i>atemeiit resultiiig fi'oin fiyud is higha. than for one resulting from en'oi., as fraud may iniiolve collusion, foiEery, iiitentioiial 01)iissioiis, misr¢pr¢s¢ntatioiis, or th¢ ov¢rYAde of inteimal coiitK)l. Obtain an uiiderslaiiditig of internal control relevani to (he audil in order lo desigii audit proccdur¢s Ihat are appropi'iale iii Ihe circumslances, but not for the purpose of expressing an opinion on the effectiiteiiess of ihc inieimal control. Evaluate the appropriatciicss of accounting polici¢5 used and the reasonablen¢5s of accouiiting eslimaic.s and related disclosures rnade by the Iruslee5. Coiiclude on tlie appropriatenc5s nfilie lrnslees, use of the going cojicern basis ofaccounting aiid, based on the audit evidence obtained. Ivhetlier a Inaierial uncertainry exlsts related to events or coiidilions that J)iay cast sigt]ificant doubt on the cliai'ity'5 ability to Collliiiue as 2 going concern. If ive COLiclude Iliat a niatei-ial unccrlaiIity exists. Ive are required to dra. attentioii in OUT auditoi s repoit to th¢ irlatcd disclosures ill the fiiiaiicial stalemfflits or. if such disclosures are inadeqiiate, io Inodify our opinion. Our coiiclLlSlOJ)s are based oil tlie audit evidence obtained up to the date of our auditor's reporÉ. Hoiiiev¢r, future eveiits or condition5 Inasi cause the Charity to ¢¢ase to continue as a going concern. Evaliiat¢ tlie overall presentation, StctUre and coiitent of tlie finaiicial statenieiits, includiiig ihe disclosures, and ivhethcr the fii)aiictal statenients represent the underlyii)g transa¢lioi)s aiid events in a Iiianiier that achi¢v¢5 fail pr¢sci)latiofti.
Gui"unanak Charitable Trust Indepeiident Auditor's Report to the Illembers of Guriinanak Charitable Trust (coiiiliiiied) Year Ended 5 April 2024 We commuiiicale with those charged ivith goi?eTnance regarding, aiT]ong other matters, the planiied scope aiid tiining of tlic audit &iid significant audit flndings, including aiiy significant defici¢ncics in Int.11a1 coillrol that we identify during our audit. Use of Oui. Repoi't This report is made solely to the charity's membeis, as a body, in accordance Miith sectioii 144 of tlie CliaTilies Act 201 l aiid i'egulalions Madc uiidei- sccti017 154 of Ilial Act. Our audit iiork ha5 been uiid¢rtakeii so thal ive inight state to the chayity's inembers tliose 11114 tters are Tequired lo slate to Iliem in an auditols rcporl and for no olhei. pury)ose. To the fiLllest extent permitled by lam.. we do nol accepl or assuine i'esponsibility to anyoi)e otliei- tha lh¢ cliarity aiid tlie chai'ity'5 members as a l)ody, for oui audit Ivork, foT this report, or for the opinions is'e have fonii¢d. Carolii)e Monk BA FCA (Senior Statutory Auditor) Foi. aiid oil belialf of Beever aiid Stiijthei-s Chai'lered accoui)tanls & stathtoiy auditor One Express l Georg¢ Leigli Sire¢t Maiiche5ter M4 5DL 24 J&iiu&ry 2025
Gurunanak Charitable Trust Statement of Financial Actiiqties Year Ended S April 2024 2024 Ui?reslricted fuiids 2023 Total funds Tolal fiinds Incomie and eiido)vnieiits DoiiatlOllS iiiid legacies Invcslmenl income 1.230.535 16.970 1,230,535 16,970 1,044,200 Total inc0e 1,247,505 1,247,505 1,044,200 Expeiiditui'e Expeiidilure on cliaritable aclivities Total expendfitiii'e 1,153.137 1,153,137 930,923 .153.137 1,153,137 930,923 Net Ineoine aiid iiet niovenient In funds 94,368 94,368 13,277 ReconciljAtiDii of funds Total funds brought fonvard 774,947 774,947 661,670 Total fuiids cai'Yl¢d foriiard 869,315 869,315 774,947 The 5tatcmeiit of fii)ai)cial activities include5 all gains and10sses recognised in the year. All Énconie and expenditure derive fron) conlinuiiig activilies. Tlie note5 011 pag¢s 12 to 15 forin part of tliese financlal 5tatemeii¢s.
Gurunanak Charitable Trust Statement of FinanciAI Position S April 2024 2024 2023 'olt Current assets D¢blors Cash at bank and in hand 3.647 880,968 782.447 884,615 782.447 Credilors: Amounls falling due wilhin one year Nel curreiil %5sels 12 15,300 7.500 869,315 774.947 Tolal Assets less eurrenl liAbS1i(its 869,315 774,947 Net Assels 869.315 774,947 i ui)ds of the eharity Unrestricled funds 869.315 774.947 Total ehai'ily funds 13 869.315 774.947 These finaiicial statenienls iyere approved by (he board of iwslees and authorised for issuc on 24 January 2025, and are signed on b¢haifof the board by: Mrj S Kohli TTuslee Mr N S Kol)li Trnslee Mr B Singh Trusl¢e Th¢ Jotes pages 12 10 IS form p•rl of ihrsf finRnclal slatempnls. 10
Gurunanak Charitable Trust Statement of Cash Flows Year Ended 5 April 2024 2024 2023 Cas11 noiis from opei'atliig aetliuties Ne¢ iiicoiiie 94,368 13,277 Adjuslnieiits [01.: Other iiiteresl I'¢ceivabl¢ aiid similar income Accrued expeiises (16,970) 7,800 3,300 Chnnges iii.. Trade and other debioTS (3,647) 81,551 Cash gen¢Yaled froni opeIl0n5 11 (),577 Ii)t¢re5t rcceivcd 16.970 Nel cash fii)m operating acliyities 98,521 116,577 Net Increase In cash aiid cash equlvalents Casli aiid casli equlvaleiits at begliinlng ofvear Cash aiid casli equlitaleiits at eiid ofvear 98,521 782,447 116,577 665,870 880,968 782,447 The iiole5 on pAg¢$ 12 to 15 form PArl of ihese finhnclal 51ateTneni$.
Gurunanak Charitable Trust Notes to tlie fi inancial Statements Year Ended 5 Aprll 2024 Geneval Inforniation The cliarity is a public benefit eiittty aiid a registered ¢haTity iii Englaiid and Ivales and is uniiicorpoi'ated. The addrcss of the piincipal ofti¢e is 12 Slierbonle Street, Maiichcster, M3 1 FE. Stateiiieiit of Coinpliance Tliese finai)cial stateineiils haiie been pitpared iii compliance ivith FRS 102, 'The Fiiiaiicial R¢porling Slaiidard applicable iii th¢ UK aiid the Republic of Irelaiid,, the Slatemejit of Recomi)ieiided Pi'aclice appltcable to charities pi'epaiing ilieir accouiils in accordance ii'ith tlie Financial Reporliiig Staiidard applicable in tlie UK aiid Republic of Ireland (FRS 102) (Cliai'ities SORP (FRS 102)) aiid tlje Charities Act 2011. Accounllng Pollcle5 Basis of Pj'eparation Tlie finaiicial slatements have beeli prepared on Ihe historical cost basis. Tlie finaiicial stal¢ments are prepared in sterliiig, iithich is the fuiiclional CUiTency of Ili¢ ciilily. Going Concern At the year eiid the charity had reserves of £869,315 aiid in the opinion of the tsIteS they are able to coiltTiiue to support the India Fouiidation. The trustees do not coi)Imil to funding projects iiiiless the i'eserves are available to thein. Provlslons Provisioiis ar¢ recognised ivhcn an obligalioii exisls al the repoiling date as a re.%uli of a past eveiil, it 15 probable Ihal 43 traiisfer of economic betiefits IlTiII be required in settlement and the aniounl of the obligatioii can be esiimaled reliably. No such provisioiis are recogiiised at tl)e reportii)g dale oi. in tli¢ Coiiiparalive rigiircs. Jiidgements and Key Sources of Estlinalioii Uncerlalnty The preparation of tli¢ fii)ancial slaleniei)ts in conformiiy ivith FRS 102 SORP reqiiires tlie Ms¢ of certain Cl'Ltical accounting estiniatg5. Tt can also require niaiiagemeiit to exei'cise ils judgenient iii Ilic proce55 of applying Ilie charAli¢s accounting policies. The charity is not coiisid¢r¢d to have aiiy coiiiplex accounling esliiiiale5 or judgei)ienls at this tiiiie. Fuiid Accoui)tlng Uiir¢strict¢d fiii)ds are available for usc al the discretiol) of the trustees to further any of ilie cliarity's purposcs. Inconiiiig Resources AII iiicoiiie 15 incliided iii Ilie stalen)¢nl of financial acliiiities ivlieii enlitl¢in¢I)I ljas passed lo Ilie cliarily. il is probabl¢ Ih4lt tlie ecoiioii)ic benefits associat¢d ivitl) tl)e traiisaclion ivfftll floiip to the cliarity aiid Ihe amoiinl cali bc reliably Jiieasiired. Tlie folloiitiiig specific policies are appli¢d to parliciilar categories of iiicoine.. 12
Gurunanak Charitable Trust Notes to the Financial Statements (coiJliAttÉdJ Year Ended 5 April 2024 Accouiiting Policle$ (t1111dj Inconilng Resources (eoiiliiiiiedj iiicoine from doiialiolls or graiits is J'ecognised wheii there is evidence of eiitiilement lo thc gift, receipt is probable aiid ils ainoui)I can be measured reliably. Resoiirees Expended ETp¢ndlture Expenditur¢ is tecogiii5ed on an accNals basis as a liability is incurred. Charitable expenditure compiises Ilios¢ costs Ill¢UlTed by tlie charity in Ilie delii'cry of its actiiiities and seriiices foi. its beiieficiai'ies. It iiicludes boili costs Iliat cali be allocated directly to sucli aclivilies and Iliose costs of an indiirct iiature necessdry to .%upport theni. Fliianelal InstrunieiitS A fiiiancial asset or a finaiicial liability is Ircognised only ivlien the entity becoiiies a party to ihe coiiti'aclual prDvi5ioiis of the iiislnin7enl. Basic fiiiancial instrumeiit5 are inttially r¢cognised at the amount receivable or payable iiicluding aiiy relalcd Iransaclion costs, uiilcss the arrangenienl constitutes a financiiig iraiisaclton, Ivhere it is i'ecognised at the pre5¢11t value of the futtire payments discoiinted at a market rale of interest for a similar debi iiislNii)eiit. Current asseis and current liabilili¢s are subsequently measured al the cash or other coiisidcraltoi) expected to be paid OT received and not discounled. Doiiations and Legacles Unre5tiicted Total Fuiids Fuilds 2024 Unresli'icled Total Fuiids Fulids 2023 Donatlons Doiialioiis 1.230,535 ,230,535 1,044,200 1,044,200 IJive5tiiieiit Tiiconie Unrestricted Total Funds Fui)ds 2024 Ui)restricted Total Fiiiids Funds 2023 Baiik interesl receivable 16,970 16.970 13
Gurunanak Charitable Trust Notes to the Financial Stateinents (contsiiiied) Year Ended 5 April 2024 Eypenditui'e on Charilable Activities by Fund Type Unrestricted Total Fllnd5 Funds 2024 Uiireslricted Futids Total Funds 2023 Doi)dtioiis aiid expei)ses inCued 5uI)porling Charitable caiises Support co.sts 1.145,336 7,801 1,145,336 7,801 923.423 7.500 923,423 7,500 1.153,137 ,153,137 930,923 930,923 Expendlture on Charltable Actii'ities bv A¢llvit)' Type Activities undertaken directly Support C051s Total funds 2024 Total fuiid 2023 Doiiations ilnd expet)SCs inCued sui)portit)g chai'itable causes Governai?cc Costs 1,145,336 1,145,336 7,801 923,423 7,500 7,801 1,145,336 7,801 1.153.137 930,923 Auditors Reinunei'ation 2024 2023 Fees pa)iable for Ihc audii of the finaiicial stalemenls 4,800 4,500 Staff Costs The average l)ead count of employees during the year was Nil (2023.. Nil). No employee receiiied eniployee benefits of mor¢ than £60,000 during Éhc year (2023.. Nil). 10. Trustee Reiiiuneritlon and Expenses No i'eniuiieratioii or oiher bcnefit were rcceivcd by the Itustees Trustces, travel expenses iiiere rcinibursed durii)g the year amouJ)ting lo £8,236 {2023'. £5,860). 11. Debtors 2024 2023 Prepaymeiits ai)d accrued iiicoime 3,647 12. CrcdÈtOl'5: an]ounts falling due M'itliin oiie year 2024 2023 Acciuals and deferred iiicoine 15,300 7,500 14
Gurunanak Charitable Trust Notes to the Financial Stateinents I(nI1Me} Year Ended S April 2024 13. A1191}'sis of Cliaritable Fuiids Uiiyestrieted funds At Expenditure 5 Api'il 2024 6 April 2023 Income General fiinds 774,947 1.247,505 (1,153,137) 869,315 At 6 April 2022 At Expenditure 5 Apiil 2023 Income General funds 661.670 1,044,200 (930.923) 774,947 14. Analysls of Net Assets Between Funds Unrestricted Total rtuiids Funds 2024 Currciit assets Crediiors less than l year Net assets 884,615 (15,300) 869,315 884,615 (15,300) 869,315 Unrestri¢ted Totsl Fund% Fund5 2023 CuiTenl assets Creditors less tlian l y¢ar Net assets 782,447 (7,500) 782,447 (7,500) 774,947 774,947 15. AnAlys15 of Ch2iiges lil Net Debt At 6 Apr 2023 Cash floivs At 5 Apr 2024 Cash at bank aiid in hand 782.447 98.521 880,968 16. Rel&ted Pai'tles The folloiving parties are related to. and have entered into transactioiis ii'ith. the Gurunanak Cliaritable Tn]st duriiig Éhe current or prior year: Mi. J S Kohli During tlie year lh¢ trust received doi)atioiis of £1 5,755 (2023: £12.385) froni Mr J S Kollli. There ivere iio Iniouiits outstanding lo or froni Mr Kolili at tlie year end. Fiutli¢r donations ainoiuittng to £65,500 (2023 £Nljl) Iv¢r¢ r¢c¢iv¢d froi)I tlie Kohli faii)ily. 15