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) Febi￿alY 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 T￿st 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 ￿l￿n￿gel11e￿t
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 li￿Slee5 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&gtatemeiit
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, St￿ctUre 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 inc0￿e
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 ope￿Il0n5
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 t￿sIteS 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$ (t￿1111￿￿￿dj
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 inCu￿ed
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 inCu￿ed
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(￿nI1￿Me￿}
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