NANAKSAR THATH ISHER DARBAR TRUST Financial Statements For the Year Ended 31 MARCH 2025 Charity Number 1025988
NANAKSAR THATH ISHER DARBAR TRUST FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 coENTs Page Charity Reference and Administrative Detsils Trustees, Annual Report Independent Auditor's Report Statement of Financial Activities Statement of Financial Position 10-13 14 15 Statement of Cashflow 16 Notes to Financial Statements 17-25 Page l of 26
NANAKSAR THA TH ISHER DARBAR TRUST Charity Referenee and Administratfve Details YEAR ENDED 31 MARCH 2025 Registered charity name Nanaksar Thath Isher Darbar Trust Chgrity registration number 1025988 Prineipal olTice NTIDT Garib Niwaj Springfield Road Hayes Middlesex UB4 OLP The Trustees Sant Baba Amar Singh Ji Mr Gursharan Singh Mr Sarabjeet Singh Dhanjal Mr Lakhwinder Singh Mahal Audltor Bruton Charles Chartered Accountants & Registered Auditors Thc Coach House Greys Green Business Centre Henley-on-Thames Oxon RG9 4QG Sollcltor Freeths l.LP Cumberland Court 80 Mount Street Nottingham NGI 6HH Page 2 of 26
NANAKSAR THATH ISHER DARBAR TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2025 The Managing Trustees present their report with the financial statements of the Charity for the year ended 31 March 2025. AIMS & OWECTIVES Its key areas of activities during the year have be¢n the following: The advancernent of the Sikh religion by the provision of facilities for worship and study and by such other exclusively charitable means through our four places of Worship (Gurdwara's) in UK. The advancement of education among students of the Sikh Religion attending th¢ places of worship at Hayes, Letchworth and Wolverhampton Gurdwara's. All Reference tcaching is through Guru Granth Sahib Ji our Eternal Guru. We train students to learn Sikh Martial Arts i.e Gatka training. To advance the Sikh EducationlPrayer5 and ethos of pupils at Guru Nanak Sikh Academy Ltd located in Hayes United Kingdom and FaleoDs Primary School located in Leicester United Kingdom as the designated faith body. To further value8 of thc Sikh Faith and raise awareness of Stkhism to the wider public and working with all communities to help the society learn from each other. To instil and educate the society with the principle$ of Guru Nanak Dev Ji (Fi1 Guru ji), i.e.. Kirat Karo (Earn Honestly & Righteously), Vandd Chhako (Share one's wealth with the ones in Need). Naam Jappo (Chant THY Name). We want to help the community to understand that the principle of working hard presents growth opportunities and contributes to the good of society, sharing instils fairness in the society and the reciting of prayer helps society with mental wellbeing. We try a encourage a system of learning and working hard by implementing regular routines that are small and easy to do which result in compound growth of the community. We ty and shape habiL8 around good community ethos. We use implementation intention by setting a clear time and place for worship and learning from scriptures. We ty to promote an environment of discipline at our temples and optimise our environment to make good habit cues obvious by displaying signs and scripture teachings. We promote a culture where learning and worship behaviour is shared interest of th¢ ongregation by practicing daily at our premises. Community events also help people enhancing wellbeing and mental health, along with building connections and relationships. We understand that it is important to reflect and review to prevent mistakes and to avoid holding onto an identity to encourage long tenn growth of ow community. Page 3 of 26
NANAKSAR THATH ISHER DARBAR TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2025 SANT BABA AMAR SINGH JI'S MISSION STATEMENT (CHAIRMAN'S STATEMENT) Nanaksar Thath Isher Darbar Trust UK has continued to work towards its aims and objectives this year. with particular empha515 on fiherIng the Sikh faith amongst the Sikh Community in the United Kingdom and encouraging worsliip and education so the community can foster critical tliiiiking and continuous growth action. The Trust makes valuable contributions to wider society and seeks to promote the values of universal love between all of humanity, which is a k¢y message enshrined in the Eternal Gur Guru Granth Sahib The Trust places of worship in the United Kingdom have been an integral part of the local community and a hub of support for mental health throughout the years. From conducting daily worship services to providing free food to the congregation, the Gurdwaras are a vital part of society. Most parents/teachers of Guru Nanak Sikh Academy have the benefit of facilities of a place of worship in Hayes and having a meal while picking up and dropping their children which is of great benefit to them from their feedback. With the co.st of living going up, T.anger service help's the society with fulfilling their basic needs and prayer services help with rnental health improvement. The whole Sikh community celebratcs key events throughout the year linked to significant figures and their birth anniversaries. This includes the first Guru, Guru Nanak Dev Ji's birthday and the founding of the Khalsa by the Tenth Guru, Guru Gobind Singh Ji and the Prakash Purab of Guru Granth Sahib Ji. Thes¢ events involve conducting religious ceremonies. reading of scriptures, organising the Langar and the Trust Gurdwara's have done a wonderful job of organising these key celebrations for the benefit of the community in line with its aims and objectives. The message of the Gurus is clear - Sarbat Da Bhalla - to help the worldwide community and to pray for their wellbeing. Prayer is the Ineans by which we receive supernatural help. Regular weekly Sikhism and Punjabi classes have continued to be held at all Trust Gurdwaras to educate the next generation about the Sikh traditions and values that helps transinissioii of L"iiowledge, sk-ills, and character traits. These great works could not have been possible without all the volunteers and community wholeheartcdly giving their help and support. The TnJ5t's objectives are to give individuals tools, knowledge, and ski115 to make the positive changes in the world. The Trust would welcome partnerships with those who are inkrested in making a difference We are grateful to the many volunteers who have offered their time and services in helping us fulfil our aims and objectives. Finally, I would like to extend my deepest gratitude to all our supporters and volunteers who have made all the above possible. Thank you. Page 4 of 26
NANAKSAR THATH ISHER DARBAR TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2025 CHARITY WORK THROUGHOUT THE YEAR The advancement of Sikh Religion and Education is evident at Guru Nanak Slkh Academy And Falcons Primary School (where the trust is a designated faith body) A provcrb from the Guru Granth Sahib, Ang 356 "Contemplate and reflect upon knowledge and education and you will become a benefactor to others" Guru Nanak Sikh Academy Limited incorporated on 2211012010, the school was founded by Sant Baba Amar Singh Ji and opened in January 1993. Baba Ji listened io the voices of the people in the community, parents were anxious. concemed that their childr¢n would dispel into having fewer Sikh beliefs, forget their culture and Sikh values and as result becorne unknown to themselves as individua15 Ln a society where a multitude of faiths exist. The school is a leading beacon amongst all other Sikh faith schools and has consistently achieved high academic results above national averages. Nanaksar Primary SLhool is now open, which is another successful institute. Nanaksar Thath Isher Darbar Trust is the designated faith body of the schools and the Trustees have already reviewed the faithlcolleclive worship policy by working closely with th¢ school leadership team. The Trust has also supported schools with providing assistance in organising the free LunclVLangar for all staff and students during the celebration8 of Vaisakhi and most Gurpurab's over the years and look to carry on the same in the near ture. Daily Prayers are carried out at the school Temple. We also help school children with religious education by following the principles in Guru Granth Sahib Ji our Guru. We have also worked with local Charities and the Metropolitan Police to help the less fortunate member5 of our community and been recognised by the police for our help. Educational Programmes being suetessfully Managed by Nanaksar Thath Isher Darbar Trust Each UK Trust Gurdwara offers weekly Sikhism, Kirtan (music for worship) and scriptural reading classes to the families of the congregation. This 8ervice ties in with the Trust',8 overarching objectives of spreading th¢ message of Sikhism to the community and next g¢neration and advancement of spiritual education. We hold monthly and weekly prayers to celebrate different events for the benefit of the community this in turn support th¢ w¢llbeing of the community as the Temples are open to all regardless of background. Overseas Charitable PrOJectslActivitiese1ated Parties (Common Chairman) with no dIt funding from the UK (Unless otheThi5e ststed) In addition to UK. the worldwide Nanaksar Trusts have set up many other educational institutions led by the sister Trusts overseas, these projects ate run in different countries under their own Trusts. Page 5 of 26
NANAKSAR THATH ISHER DARBAR TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2025 These include the Garib Niwaj Education Society in Delhi, India. The students attending this school come from undery)rivil¢ged backgrounds and a long line of poverty from many generations. The school providcs many facilities from free stationery, transport. uniforni and food. Another school in India is the Anand Isher Public School in Punjab which has won many accolades for delivering a high-quallty education to youngsters and many of these students go on to pursue higher education in sought aft¢r Careers linked to business, medicine, and economics. EVENTS TO ENSURE SIKH COMMUNITIES UNDERSTAND THE MESSAGE FROM GURU GRANTH SAHIBJI Parkash Smagam gnd Bala Pritam Smagam The Parkash and Bala Pritam Smagam (annual three-day events), are the most significant celebrations organised by the Nanaksar Thath Isher Darbar Trust. Over the years we have celebrated these events and communities and dignitaries from all over the world came together in rcmernbrance and prayer. We as a cominunity also prayed for World peace and health at this holy event. Other trusts have also hosted commLiiiity prayers at our Hayes templc &rroLiiid which have been a huge support I'or the cominuiiity wellbeiiig. the commuiiity highly awaits these surnmer events. Valsakhl And Gurpurab Celebratlons The Guru Nanak Sikh Academy and Falcons primary school provides a platform for students to do selfless service and to practise Sikh values. NTTDT, being the faith body of the schools, provides guidance on how to celebrate these key events on the Sikh calendar. The school calendar includes two key events. Vaisakhi in April and the Gurpurab in November commemorating the birth of the founder of Sikhism. These special occasions are celebrated by staff. students and parents with organised religious performances hosted in the school Gurdwara. We look forward to supporting the schools with the same going fonvard with Worship services and Langer. We celebrate the same at our Gurdwara's and offer Langar and worship facilities at our sites and the cornmunity really appreciate this. Weektylmonthly Prayers We hold Prayers and Langar on a daily basis where the communities attend and have access to all our facilities. As the Gurdwara in Hayes is near Guru Nanank Sikh Acaderny Limited, Parents and congr¢gation really appreciate and feel that they are supported by this facility tremendously. We also hold Prayers on a monthly basis, again this is a great help to the comrnunity and its wellbeing. The Trust is an unincorporated tnt established by Deed of Tnt dated 7th January 1993 as ameThd¢d by suppl¢mcnt Deed dat¢d 15 February 1994, 12th July 2006 and 16" October 2023. Page 6 of 26
NANAKSAR THATH ISHER DARBAR TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2025 STRUCTURE IGOVERNANCE & MANAGEMENT Appointment of Trustees The power to appoint Trustees is vested in the Board of Trustee5 as governed by the Governing document of the charity being its Trust Deed. Trustee Induction and training involve new Trustee's undergoing an orientation day to brief them of their legal obligations under Charity Law, the decision-making processes, the Charity business plan and are informed of recent perfonnances of the charity. During the induction day introductions are made with key personnel and other Trustee members. Trustees are encouraged to attend external training seminars to advance their knowledge and gain skills to equip them in their roles as Trustees. Qrganisalion of the Charity The Trust and its members administer the Charity on a daily basis. The overall responsibility is given to the Chainnan Sant Baba Amar Singh Ji who is assisted by the appointed Trustees. The Trustee's forn]ally meet four times a year with regular contact with staff and its volunteers. In the ¢urr¢nt yeiir we have adopted weckly meeting due to the benefit of Zoom which has enhanced the charity affaires tremendously. Risk Managemenl The Trustees have a risk management strategy which comprises of an annual review of the risks the Charity may face, the establishment of systems and procedures designed to minimize any potential impact on the Charity should those risks materialize. This work has identified only a few minor risks but it has resulted in better emergency procedures and contingency plans and has given the impetus for better planning. A key element in the management of fjnancial risk is its regular reviews by the Trustees. Grant M2klng Poliey We consider requests for grants and make grants which meet the charity's objectives as outlined on page no. 3. Investment Powers The Trustees investment powers ale unrestricted. Page 7 of 26
NANAKSAR THATH ISHER DARBAR TRUST TRUSTEES, ANNUAL REPORT YEAR EIYDED 31 MARCH 2025 How our Objectives and Activities are delivered for public benefit: A review of achievements and performance. The Trust Deed allows the Trustees to make grants to support any objects which are charitable and for the public benefit under the law of Englond and Wales. The Trustees, primary focus is on the advancemcnt of education and promotion of values enshrin¢d in the Sikh faith such as, pati¢nce, tolerance, forgiveness, peaceful co-existence (community cohesion), welfare of all (Sarbat da Bhalla) and equality. The 'frustees confirni that they have referred to the guidance contairAed in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and policies for the year. The Charity has complied with the duties regarding the public benefit guidance published by the Charity Cornmission. Policy on Reserves At the year end, the charity held net current assets of £3,190. Of this balance, the truste¢s consider £67,462 (2024.. £27.104) represents the free reserves available which is the net current assets excluding the short-terni bank loan, short terni DFE loan and the restricted fidS held within the bank funds. Short tem loans are excluded in this appraisal on the basis of being under the control of the charity and being repaid by structured instalments. The unrestricted funds are not committed or designated for specific purposes, and which are thereforc available to support charity's general activities. During the year, loans previously reflected in current liabilities including loans from individiials and trustee loans, have been restructured and replaced by a bank loan. Hence, significant amount of charity's current liabilities 18 now classified as non-current liabilities, reflecting the long-tenn nature of revised borrowing arrangements. These reclassifications do not Impact the level of free reserves instead, improving the charity's short-terni liquidity position. Management is of the view that trust is always expected to generate surplus fimd5 (before exceptional iterns, which are all dealt by the management on a merit basis without Seeking recourse to the free reserves). This view of surplus funds and from regular income streams expected to be consistently strong makes the trust self-sustaining. The total reserves balance held on 31 March 2025 was £3.110.940 which has a restricted balance of £2,225 and the rest of the reserve balance remains unrestricted. The charity's policy is to airn for sufficient reserv¢s to fund at least twelve months future expenditure at any time. Page 8 of 26
NANAKSAR THATH ISHER DARBAR TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 3111(ARCH 2025 STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees are responsible for preparing the Annual Report of the Trustecs and the financial statements of the Charity in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting PTactice). The law applicable to Charitie5 in England and Wales requires the Trustees to prepare financial statements for each financial ycar which give 8 true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that pertod. preparing these financial statements, the Trustees are required to= select suitabl¢ accounting policies and apply them consist¢ntly' observe the methodq and priT]ciples in the Charities SORP 2019 (FRS 102) make judgeinents and estimates that are reasonable and prudent. state whether applicable UK accounting standards have been followed, subject to any materlal departures disclosed and explained in the financial statemenls, and. prepare the financial Statements on the going concern basis unles.q it is inappropriate to presume that the Charity will continue in opeTation. The Trustees are Tesponsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial po,sition of the Charity and enable them to ensure that the financial $tatement.8 Comply with the Charitie8 Act 201 I, the Charity (Accounts and R¢porL8) Regulations 2008 and the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taknng r¢asonablc steps for the preventson and det¢¢tion of fraud and other irregularities. The Tru8tees are responsibl¢ for the maintenance and Antegrity of the Charity and financial information included on the Charity's website. Legislation in tlie United Kingdom 8overning the preparatlon and dissemination of financial ststements may differ from legislation in other jurisdictions. In so far as thc Trustees are aware.. . There is no relevant audit information of which Chanty's Auditor is Unawa of and The Trustees hav¢ taken lill bi¢ps thal they ought to have taken tu make ihemselves aware of any relevant audit inforn]ation and to establish that the Auditor is aware of that inforniation. AUDITOR A resolution will be proposed at the Trustees m¢eting that Bruton Charles be re-appointed as Auditor to the charity for the en$uing year. Approved by the Trustces on 15th January 2026 and signed on behalf by Gursharan Singh (TTUStee) Sarabjeet Singh Dhanjal (Trust¢e) Page 9 of 26
NANAKSAR THATH ISHER DARBAR TRUST Independent Auditor's Report to the Trustees of Nanaksar Thath lsher Darbar Trust Opinion We have audited the financial statements of Nanaksar Thath Isher Darbar Trust ("the Charity") for the yeaT ended 31 March 2025 which comprise the Statement of Financial Activities. Ststement of Financial Position, Statement of Cashflow and note5 to the financial statemcnts, including a summary of significant accounting policies. The fmancial reporting frarnework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard102 The Financial Reporting Standard applicable in th¢ UK and Republic of Ireland (lJnited Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: giv¢ a true and fair view of the state of the Charity's affairs as at 31 March 2025. and of its incoming resourc¢s and application of resources, for the year then ended: have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in COrdanCe with the requirements of the Charities Act 2011. Basls for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK}) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audil of the financial statements section of our report. We are independent of the charity In accordance with the ethical requircm¢nts that are relevant to our audit of the financial statem¢nts in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriat¢ to provide a basis for our opinion. Conclusions relatlng to going ¢oncern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perforn)ed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, rnay cast significant doubt on the charity's ability to continue as a going concern for a pcriod of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of th¢ trustees with respect to going concern are described in the relevant sections of this report. Other iDformatlon The other inforniation comprises the inforn)ation included in the trustee's annual report, other than the financial statements and our auditor'8 report thereon. The trustees are responsible for the other inforniation contained within the annual report. Our opinion on the funCIal statements does not cover the other infonnation and, except to the extent otherwise explicitly stated in our repo¢ we do not express any forni of assurance conclusion ther¢on. Page 10 of26
NANAKSAR THATH ISHER DARBAR TRUST Independent Auditor's Report to the Trustees of Nanaksar Thath Isber Darbar Trust (eonrfnued) Our r¢sponsibility is to read the other inforniation and. in doing so, consider whether the other infonnation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or othenvise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatetnents, we ar¢ required to deterniine whether this gives rise to a material misstatemcnt in the fmancial statements themselves. If, based on the work we have perforn]ed, we conclude that there is a material misstatement of this other inforniation, we are required to report that fact. We have nothing to report in this regaTd. Matters on which we are required to report by exception We have nothing to report in respect of the following matters ID relation to which the Charities (Accounts and Reports) Regulations 2008 require w to report to you if, in our opinion.. The inforniation given in the financial statements TS inconsistent in any material respect with the TNstees' report. or Sufficient accounting records have not been kept. or the financial 5tstements are not in agreement with the accounting records. or we have not received all the inforn)ation and explanations we require for our audit. Responsibilities of trustee$ As explained more fully in the Tru5tees' Responsibilities Statement set out on responsible for the pre intemal control as the aration of financial statements which give a tn]e an a8es 9, the Trustees are air view, and for such rustees detennine is necessary to enable the preparation of financial slaternents that are free from material misstatement, whether due to fraud or error. In preparing the financial statements the Trustees are responsible for assessing the ChaTity's ability to continue as a going concern asis of accounting unless the licable, matters related to going concern and using the rustee.8 either intend to liquidate the Charity or to cease operations, or have no rcalistic alternativ¢ but to do so. Auditor's responsibilities for the audit of the financial sthlements We have been appointed as auditor under section 144 of the Charities Act 201 l and report in accordance with rcgulations made under section 154 of that Act. Our objectives are to obtain reasonable assurance about whether th¢ financial statements as a whole are free from material misstatemenL whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or eor and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on th¢ basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with law5 and regulations. We de81gn procedures in line with our responsibilities, outlined above, to detect material Misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detccting irregularities, Including fraud is detailed below.. Page 11 of 26
NANAKSAR THATH ISHER DARBAR TRUST Independent Auditor's Report to the Trustees of Nanaksar Thath Isher Darbar Trust fcontinued) Our assessment of th¢ susceptibility of the Charity's financial statements to material misstatement. including how fraud might occur. is considered to be low. This conclusion was reach after the consideration of the following: due to the relatively simple business model and low number of transactions within the Charity there are comparatively few unexpected fluctuations in the reported result5 and balances and any such unexpected items would be specifically enquired into by us. and there are several individuals which comprise "management" and therefore there is no single individual who is likely to be able to oveIde controls to affect a fraud. We designed our audit pr()cedures to respond to identified audit risks, including non-cornpliance with laws and regulations (irregularities) that are material to the fLnancial statements. Some of the specific procedures perfonned lo detect Iegular1tie8. including fraud, are detailed below: the review of control accounts and journal entries for large or unusual activities- the analytical review of the statement of financial activities for variances that are either unexpected or considered not to be in accordanc¢ with our understanding of the charitable activities dwing the year. obtaining and reviewing for completeness, a list of entries and persons considered to be related parti¢s (as defined by Financial Reporting Standard 102) and reviewing the ledgers of the Charity for previously unreported related party transactions. rcview of transactions and journal.s for any indication of fraud or management override; and review of "frust¢¢ meeting minutes for unrecorded transactions. Because of the inher¢nt limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk mcr¢a5¢S the more that compliance with a law or regulation is removed from the events and transactions reflected in Ihe financial .%tstements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding i¢gUlarItIeS occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities is available on the FRC'S website at.. http5'.Ilwww.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the- fildescr1ption-of-the-audito10E2 % 800/.995-responsibilities-for. This description fornis part of our auditor'5 r¢port. Use of Report This report 15 made solely to the Charity's Trustees, as a body. in accordanc¢ with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity's Trustees those malters we are required to state to them in an auditor's report and for no other purpose. To the thllest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for our audit work, for this report, or for the opinions we have fornied. Page 12 of 26
NANAKSAR THATH ISHER DARBAR TRUST Independent Auditor's Report to the Trustees of Nanaksar 'fhath J8her Darbar Trust (continued) Neil Major (Senior Statulory Auditor) Bniton Cliarles chrtered Ac¢ountaTE15 & Registered AuditOT8 I'he Coach House Greys Green Bu8in¢6s C¢ntr¢ Henley-on-Tl)a11)es Oxon RCJ9 4QG Date: 151h January 2020 Brnton Churles is eligiblc to a¢t as an auditor in tern16 of 8ertion 1212 of the Compenies Act 2006. Page 13 of 26
NANAKSAR THATH ISHER DARBAR TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2025 Unrestrleted Funds Restrleted Funds Total Funds 2025 Total Funds 2024 Note INCOMING RESOURCES Incoming resources from generattng ndS.. Donations and Legacies Fundraising Activities Other Incom¢ 653,585 142,807 13,800 2,225 655,810 142,807 13,800 621,961 196,886 11,200 TOTAL INCOMtNG RESOURCES 810,192 2,225 812,417 830,048 RESOURCES EXPENDED Costs of generating funds: Fundraising trading.. cost of goods sold and othcr 177,846 177,846 Charltable actffivltles GovernAnce Costs 158,651 520,952 83,613 520,952 83,613 392,769 65,105 TOTAL RESOURCES EXPENDED 782,411 782,411 616,524 NET (OUTGOING) I INCOMING RESOURcf,s FOR THE YEAR 27,781 2,225 30,006 213,523 RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRILD FORWARD 3,080,934 3,080,934 2,867,411 3,108,715 2,225 3,110,940 3,080,934 The Statement of Financial Activities includes all gains and losses reeognised in the y¢aT. All incom¢ and cxpenditure derive from continuing activities. The notes on pages 17 to 25 form part of these financial statements Page 14 of 26
NANAKSAR THATH ISHER DARBAR TRUST STATEMENT OF FINANCIAL POSITION 31 MARCH 2025 2025 2024 Note FIXED ASSETS Tangible assets 13 4,347,115 4J60,122 CURRENT ASSETS Debtors Cash at bank and in hand Inventory 14 20,091 64,121 8,700 29,082 22,868 99,512 51,950 CREDrroRS: Amounts falling due wfithin one year 15 (96,322) (249,967) NET CURRENT ASSETSI{LIABILITIES) 3,190 (198,017) TOTAL ASSETS LESS CURRENT LIABILITIES 4a50,305 4,162,104 CREDITORS: Amounts frdlling due after more than onc ycar NET ASSETS 16 (1,239,365) (1,081,170) 3,110,940 3,080,934 FUNDS Restricted funds Unrestricted income funds 17 18 2,225 3,108,715 3,110,940 3,080,934 3,080,934 TOTAL FUNDS These financial statements were approved by the Board of Trustces and authorised for issue on 15 January 2026 and aTe signed on th¢ir behalf by.. Gursharan Singh (Trustee) Sarabjeci Singh Dhanjal (Trustee) The notes on pages 17 to 25 form part of these finanelAI statements Page 15 of 26
NANAKSAR THATH ISHER DARBAR TRUST CASH FLOW STATEMENT YEAR ENDED 31 MARCH 2025 2025 2024 Net cash from operating aetivities (101,457) 209,594 Cash flows from Investing Actlvltles Interest received Purchase of fixed Assets Proceeds from sale of tangible fixed assets (1,560) Net eash used ID investing activities (1,560) Cash floivs from finanelng activities New bank loan received to repay other loanq Repayment of other loan8 payable Repayment of other loans rec¢ivable l.oan interest payable 379,709 (201,792) (233,990) (35,207) (7,811) Net Cash flow from finanelng actlvities 142,710 (241,800) Net Increasel(Deerease) In cash and cash equivalents 41,253 (33,766) Cgsh and cash equivalents at beginning of year 22,868 56,634 Cash and cash equivalents v4t end of year 64,121 22,868 The notes on pages 17 to 25 form part of these finYdDcial statements Page 16 of 26
NANAKSAR THATH ISHER DARBAR TRUST NOTES TO THE Accouwrs YEAR ENDED 31 MARCH 2025 GENERAL JNFORMATION The LhaTIty is registered charity in England and Wales and is unincorporated. The address of the principal office is Garib Niwaj, Springfield Road, Hayes, UB4 OLP, UK. BASIS OF PREPARATION These financial statements of the charity, which constitutes a public benefit entity as defmed by FRS 102, have been prepared in accordance with 'Accounting and Reporting by CharitTes'. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland,, (FRS102), the Charities Act 201 I, and UK Generally Accepted Accounting Practi¢e. The financial statements have been prepad to give a 'true and fair, view and have departed from Ihe Charities (Ac¢ount8 and Reports) Regulations 2008 only to the extent required to provide a 'true and fair vtew,. This dLparture has involved following the Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities prcparing their accounts in accordance with thc Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommendcd Practice eff¢¢tive from l April 2005 which has since been withdrawn. SUMMARY OF SIGNIFICANT AccouNfiNG POLICIES The financial statements have been prepared under the historical Cost convention as modified by the use of fair values for certain financial instruments in accordance with policies set out below and in accordance with the Statement of Recomm¢nded Practice (SORP), "Accounting and Reporting by Charities ("publi5hed in 2019"). The significant accounting policies applied in the pr¢paration of these fmancial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. Fund accounting policy Unrestricted income funds are general funds that are available for use at the managing tNstees' discretion in furtherance of the objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trust¢es for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that arca or purpose. Going Concern The Board of Trustees are confident that with Trust'5 ongoing reciprocal financial arrangements (though infornial) with its sister concerns (also described as related parties) by virtue of th¢ fact that the chairnian is a common trnstee in all of these, there is no imminent danger to the going concern staS of the Trust. There are no material uncertainties about the Charity's ability to continue. Page 17 of 26
NANAKSAR THATH ISHER DARBAR TRUST NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 Incoming resources Further All incoming resources are included in the Statement of Financial Activities wh¢n the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlernent is the earlier of th¢ Charity being notified of an impending distribution or the legacy being received. Gifts in kind donated foT distribution are Includ at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they ar¢ 501d. Donated facilities are included at the value to the Charity where this can be quantified and a third party is bearing the cost. No amounts are included in the fmancial stat¢m¢nts for goods and services donated by volunteers. However, it is under consideration to quantify such services and report in the fmancial statements. DonatlODS in Klnd Our policy is to capitalise any fixed assets purchased or donated in excess of £1,000, where the value can be reasonably quantified and where these items not capitalised, they are written off to the SOFA as 'premise8 equipment and repairs,. Resources expended All expenditure is accounted for on an accruals basis and has been ¢la$sified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with use of the resources. Fund-raising costs are those incurred in seeking voluntary contributions and do not include th¢ costs of disseminating inforn]ation in support of the charitable activities. Support costs are those costs incurred directly in sUPPOrt of expenditure on the objects of the Charity. Direct costs allocation Direct costs are those that are fimdamental & directly attributed to the ch8ritable activities of the charity, which includes Premises costs and Staff ¢osts. Support costs alloeation Support costs are those that assist the work of the charity but do not directly represent charitable activitie8 and include Bank charges, Loan interests, Depreciation Costs, Sundry costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs vallocation Governan¢¢ costs comprises of the costs attributable to the charity's compliance with constitutional and statutory requirements including, Accounting costs, Audit costs and other Legal and Professional cosls. Page 18 of 26
NANAKSAR THATH ISHER DARBAR TRUST NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 Financial Instruments The Charity only has fmancial assets and fmancial liabilities of a kind that qualify as basic fulancial instruments. Basic financial instruments are recognised at transaction value. except where settlement is d¢layed, in which case the transaction is recognised at the present value of the Settlement amount. Depreciation Depreciation 15 provided on tangible fixed assets so as to write off the cost or valuation. less any estimated value, over their expected use[ economic life as follows.. Equipment Fixtur¢s & Fittings Freehold propcrty 2511/0 (Straight Line Basis) 250/0 (Straight Line Basis) See note 13 Governance costs Govcrnance cost.g includes costs incurred in respect of organisational management and compliance with constitutional and statutory r¢quirements. Fixed assets Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £200 are not capitalised. DONATIONS AND LEGACIES Unrestricted Fund5 Restri¢ted Funds Total Funds 2025 Total Funds 2024 Donations Grant Income Gift Aid 631,801 2,225 634,026 594,167 21,784 21,784 27,795 653 585 655 810 621961 INCOMING RESOURCES FROM ACTIVITIES FOR GENERATING FUNDS Unrestricted Funds Totwl Funds 2025 Totsl Funds 2024 Fundraising Events-Prakash 142007 142,807 196,886 Page 19 of 26
NANAKSAR THATH ISHER DARBAR TRUST NOTES TO THE ACCOUNTS YEARENDED 31 MARCH 2025 OTHER INCOME Unrestricted Restricted Funds Total Funds 2025 Total Funds 2024 Rental Income 13,800 13,800 11,200 FUNDRAISING TRADING: COST OF GOODS SOLD AND OTHER COSTS ljnrestrlcted Funds TotAI Funds 2025 Total Funds 2024 Prakash 177,846 177046 158,651 ALLOCATION OFCHARITABLE ACTIVITIES Unrestricted Funds TotAI Funds Total Funds 2024 2025 Direct Costs Support Costs Overseas Donations Paid 466,837 54,115 466,837 -$4,115 364,480 28,289 520,952 520,952 392,769 ALLOCATION OF DIRECT COSTS Unrestrlettd Fund5 Total Funds Total Funds 2024 2025 Salaries and wages (including social security costs) Premises costs 94,668 372,169 94,668 372,169 69,756 294,724 466,837 466B37 364,480 Page 20 of 26
NANAKSAR THATH ISHER DARBAR TRUST NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 ALLOCA TION OF SUPPORT COSTS Unrestricted Funds TolAI Funds Total Funds 2024 2025 Bank Charges and Loan Interest Depreciation Sundry 35,667 13,(KJ6 5,441 35,667 13,006 5,441 10,601 13,658 4,030 54,114 54,114 28,289 GOVERNANCE COSTS Unrestrleted Totsl Funds Totsl Funds Funds 2025 2024 Bookkeeping & Accountancy fees Audit fees Legal & Professional 4321)0 4,200 36,213 43,200 4,200 36,213 45,600 6,600 12,905 83,613 83,613 65,105 10. NET INCOMING RESOURCES FOR THE YEAR This is stated after charging.. 2025 2024 DepreLiiltion Auditors, remun¢rn¢inn'. - audit of the financiai statements I3,7 13,658 4200 6,660 11. STAFF COSTS AND EMOLUMENTS Total stsff costs were as follows: 2025 2024 Wages and salaries Social security costs Pension Costs 86,719 5,016 2,933 64,170 3,125 2,461 Page 21 of26
NANAKSAR THATH ISHER DARBAR TRUST NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 Particulars of employees: The average monthly number of employees during the year, calculated on the basis of full-time equivalents, was as follows.. 2025 2024 No employee received Kmuneration of more than £60,000 during thc year (2024 - Nil). 12. TRUSTEES, REMUNERATION AND BENEFITS There were no Trustees, remuneration or other benefits for the year ended 31 March 2025 nor for th¢ year ended 31 March 2024. Trustees, Expenses There were no Trustee's expenses paid for the year ended 31 March 2025 nor for the yvdr ended 31 March 2024. 13. TANGIBLE FIXED ASSETS Freehold property Equipment Flxtures & Fittings Total COST At l April 2024 Additions Disposal 4,337,818 195,220 316,675 4,849,713 At 31 March 2025 4,337,818 19S,220 316,675 4,849,713 DEPRECIATION Al l April 2024 Charge for the year At 31 March 2025 180,416 9,256 309,173 3,750 312,923 489,590 13,006 189,672 502,596 NET BOOK VALUE At l Aprll 2024 At 31 March 202S 4,337,818 4,337.818 14,804 5,548 7,502 4?60,122 4,347,115 3,752 The managiJ]8 Trustees consider that no depr¢ciation charge is required for fr¢ehold buildings because the assets have a very long useful life, and the estimated residual value is not materially different from the carrying amount of the assets. For this r¢ason. the freehold buildings are not depreciated in accordance with the SORP. The properties are subject to regular and comprehensive prograrn of maintenance and repair, and the managing Trustees review the useful economic lives and residual values of freehold buildings on an annual basis. Page 22 of 26
NANAKSAR THATH ISHER DARBAR TRUST NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 14. DEBTORS 2025 2024 Amounts owed by related parties (Note 20) Other debtors 26,691 26,691 29,082 29,082 15. CREDITORS: Amounts falling due within one year 2025 2024 Bank Loans and overdrafts DFE Loan Taxation and social security Other creditors Accruals Trade Creditors 15,742 50,754 897 1214 7000 19,915 46,775 178J46 24,846 96J22 249,967 16. CREDITORS: Amounts falling due after more than one year 2025 2024 DFE Loan Bank Loan Amounts owed to related parties (Note 20) Loans From Trustees (Note 20) 160,739 363,967 714,659 213,293 714,659 153,218 1,239J65 1,081,170 17. RESTIUCTED INCOME FUNDS Balance at l Apr 2024 Movement in the year Balance at 31 Mar 2025 Restricted Funds 2225 2,225 18. UNRESTRICTED INCOME FUNDS Balance at l Apr 2024 Incoming resources Balance at 31 Mar 2025 General Funds 3,080,934 27,781 3,108,715 Unrestricted Funds Unrestricted Funds consist of unrestricted voluntary Income and unrestricted expenditure. Please refer to notes 4-7 for a breakdown of these funds. Page 23 of 26
NANAKSAR THATH ISHER DARBAR TRUST NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 19. ANALYSIS OF NET ASSETS BETWEEN FUNDS Restricted funds: Unrestricted funds: 3,080,934 Unrestricted Funds Restricted Total Funds Funds 2025 Total Funds 2024 Tangible Assets Current Assets Creditors: Amounts falling due within one year Creditors: More than one year 4J47,115 97,287 4J47,115 99,512 4J60,122 51,950 2225 {96J22) 39 65 (96J22) 39 65 (249,967) 1081170 3 108 715 25 3 110 940 3 080 934 20. RELATED PARTY TRANSACTIONS Thes¢ are related parties by virtue of the fact that the Chaiman is the common person amongst all these organisations. Creditors (falling due after more than one year) include an amount of £714.659 (2024 £714,659) payable to The N¢w ZeAland Nanaksar Thath Isher Darbar. These are related partie8 by virtue of the fact that these institutions have one or more than one common Trustees/Chaimian who has significant control of the management. An amount of £15,884 (2024 - £7,434) was paid for use of school premises as per service level agreement with Guru Nanak Sikh Academy (GNSA). Charity is the designated faith body for this school. Related party balances owed to Trustees are as follows: An amount of £Nil (2024 - £75,136) payable to Mr SS Nahal and an amount of £Nil (2024 £78,082) payable to Mr Lakhvinder Singh Mahal. Mr SS Nahal was reimbursed loan interest of £700 (2024- £7,811) during the year. Salaries paid out to Trustees. family members during the year were as follows.. On¢ Family member of Mr Gursharan Singh was paid a salary of £7.400 (2024 - £7,200) gross during the year. Page 24 of 26
NANAKSAR THATH ISHER DARBAR TRUST NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 21. POST BALANCE SHEET EVENr Subsequent to the year end, the charity completed the purchase of a property with the value of £826,000. The acquisition was financcd through a bank loan and loans from individuals. Thes¢ transactions occurred after the reporting date and accordingly, have not been reflected in the financial statements for the year ended 3110312025. The property and related borrowings will be recognised in the financial statements for year ended 3110312026. 22. CASH FLOWS FROM OPERATING ACTIVITIES 2025 2024 Net incoming resources for the year 30,006 213,523 30.006 213J23 Adjustment for: Depreciation of tangible fixed assets Loan interest 13,006 35207 13,658 7,811 Changes in: (Increasey Decrease in trade and other debtors (Increase)l Decrease in trade and other Creditors (Increase)/ Decrease in stocks 2?91 (173 J67) (8,700) 33,107 (58,504) Cydsh generated from operations (101,457) 209.594 Page 25 of 26