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2024-03-31-accounts

Charity registration number 1026179 (England and Wales)

GURU NANAK SATSANG SABHA (KARMSAR) UK ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

GURU NANAK SATSANG SABHA (KARMSAR) UK

LEGAL AND ADMINISTRATIVE INFORMATION

Registered Charity number

Principal address

Trustees

Auditor

Bankers

1026179 400 High Road Ilford Essex IG1 1TW RS Lidher JS Lidher HS Seerha HS Shergill JS Kalsi JS Seehra SPW (UK) LLP Gable House 239 Regents Park Road London N3 3LF National Westminister Bank Plc 84-86 Norwood Branch South Norwood London

GURU NANAK SATSANG SABHA (KARMSAR) UK

CONTENTS

Page
Trustees' report 1 - 3
Independent auditor's report 4 - 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 16

GURU NANAK SATSANG SABHA (KARMSAR) UK

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Charity’s principal objectives are:

a) The advancement of Sikh religion.

b) The advancement of education and training in accordance with the Sikh religion including teaching Punjabi and Sikh classical music.

c) Relief of poverty.

d) The provision of facilities for the recreation and other leisure time occupation with the object of moving conditions of life of persons who have need of such facilities as aforesaid and who are qualified by reason. Of their youth, age, infirmity and disablement, poverty or social and economic circumstances as determined by the trustees in accordance with the tenets of the Sikh religion.

Significant activities

a) In engaging Minister or other persons to carry out the work of the Trust

b) In organising a school or other means of instruction in Gurmukhi (written Punjabi) so that the children shall be able to recite the Sri Guru Granth Sahib (Holy Sikh Religious Scripture). Classes are held each week at the Karamsar Centre, part of Karamsar Gurdwara. Lessons in Sikh classical music are also given.

c) In promoting and arranging Amrit Parchar (Ceremonial Baptism).

d) In performing marriages in accordance with the Sikh customs and rites as permitted by English law.

e) To develop mutual understanding and harmonious relationships with other communities, faith groups and charitable organisations

f) In providing a meeting place for elderly to meet on a social basis.

g) Liaising with Local Education Authorities and arranging for school children to visit the Gurdwara as part of cultural education process.

Grantmaking

The main grant making priority is the advancement of the Sikh religion, followed by advancement of education and the relief of poverty

Volunteers

The trustees are grateful to the many volunteers give up their time to help, particularly at weekends and in the evenings and we are greatly indebted to these volunteers for their commitment and support.

STRATEGIC REPORT

The description under the headings 'Achievement and performance' and 'Financial review' meet the company law requirements for the Trustees to present a strategic report.

GURU NANAK SATSANG SABHA (KARMSAR) UK

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The Gurdwara has operated well for this year and recovered from the legacy Pandemic issues. The trustees have a clear focus on managing cost in the current financially challenging climate and ensuring the sangat are supported to access Gurdwara facilities and programmes. The Gurdwara delivered a summer Sikh camp for children in August 2023 that was well received by the local community and parents. The Gurdwara has also delivered additional religious programmes in both August and December to better serve the sangat. Sikh classical music has also been well supported by the Gurdwara by hosting classical Sikh music religious events throughout the year.

FINANCIAL REVIEW

Reserves policy

The Charity had negative free reserves of £314,083 (2023: £322,982) at the year end. The trustees feel that the Gurdwara has sufficient liquid funds at the balance sheet date to meet the charities immediate future requirements.

This is in line with the reserves policy to maintain the reserves at a level to fulfil the charity's objectives and to continue to support the local Sangat community. The trustees are of the opinion that there are sufficient funds available to meet the activities in the 2025.

Performance

The Gurdwara’s donations decreased by 7.3% on the prior year figure to £547,373. Total expenditure was £596,789 (2023: £594,910), resulting in a net deficit of £49,391 (2023: surplus of £1,317).

Punjabi School income for the period was only £25.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by the governing document, a deed of trust, and constitutes an unincorporated charity.

Trustees

The Trustees in office during the year are set out as below, this is compliant with the minimum number stated in the constitution.

Organisation Structure

The trustees meet regularly to assess the charity's activities. Each trustee has taken responsibility of monitoring the trust's activities in specific operation areas, working with the staff and volunteers where appropriate.

Risk management

The Trustees have the duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Statement of Trustees' responsibilities

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The Trustees' report was approved by the Board of Trustees.

GURU NANAK SATSANG SABHA (KARMSAR) UK

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

HS Shergill Trustee

28 January 2025

JS Seehra Trustee 28 January 2025

GURU NANAK SATSANG SABHA (KARMSAR) UK

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF GURU NANAK SATSANG SABHA (KARMSAR) UK

Opinion

We have audited the financial statements of Guru Nanak Satsang Sabha (Karmsar) UK (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis 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's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements 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 appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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 performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

GURU NANAK SATSANG SABHA (KARMSAR) UK

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GURU NANAK SATSANG SABHA (KARMSAR) UK

Responsibilities of trustees

As explained more fully in the statement of Trustees' responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, 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 error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Other matters

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

GURU NANAK SATSANG SABHA (KARMSAR) UK

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GURU NANAK SATSANG SABHA (KARMSAR) UK

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance 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 matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted 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 formed.

Shirish Shah (Senior Statutory Auditor)

for and on behalf of SPW (UK) LLP

Chartered Accountants Statutory Auditor Gable House 239 Regents Park Road London

28 January 2025

GURU NANAK SATSANG SABHA (KARMSAR) UK

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Notes
Income from:
Donations and legacies
3
Charitable activities
4
Total income
Expenditure on:
Raising funds
5
Support and governance costs
Total expenditure
Net (expenditure)/income for the year/
Net movement in funds
Fund balances at 1 April 2023
Fund balances at 31 March 2024		 Total
funds
2024
£
547,373
25
547,398
162,132
434,657
596,789
(49,391)
3,536,000
3,486,609		 Total
funds
2023
£
590,729
5,498
596,227
207,959
386,951
594,910
1,317
3,534,683
3,536,000

The statement of financial activities includes all gains and losses recognised in the year.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

All amounts in the current and prior year were unrestricted.

The notes on pages 9 to 16 form part of these financial statements.

GURU NANAK SATSANG SABHA (KARMSAR) UK

BALANCE SHEET

AS AT 31 MARCH 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 11 3,800,692 3,858,982
Current assets
Debtors 12 690 1,008
Cash at bank and in hand 528,091 562,691
528,781 563,699
Creditors: amounts falling due within
one year 14 (55,085) (71,281)
Net current assets 473,696 492,418
Total assets less current liabilities 4,274,388 4,351,400
Creditors: amounts falling due after
more than one year 15 (787,779) (815,400)
Net assets 3,486,609 3,536,000
Income funds
Unrestricted funds - general 3,486,609 3,536,000
The financial statements were approved by the Trustees on 28 January 2025
ee a
HS Shergill JS Seehra
Trustee Trustee
28 January 2025 28 January 2025 28 January 2025

GURU NANAK SATSANG SABHA (KARMSAR) UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Guru Nanak Satsang Sabha (Karmsar) UK is a charity is controlled by the governing document, a deed of trust, and constitutes an unincorporated charity. The registered office is 404 High Road, Ilford, Essex, IG1 1TW.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's deed of trust, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The Charity constitutes a public benefit entity as defined by FRS102.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

GURU NANAK SATSANG SABHA (KARMSAR) UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold buildings and improvements 2% on straight line Fixtures and fittings 25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

GURU NANAK SATSANG SABHA (KARMSAR) UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

**Unrestricted ** Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 547,373 590,729

GURU NANAK SATSANG SABHA (KARMSAR) UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

4 Charitable activities

Unrestricted
Unrestricted
funds funds
2024 2023
£ £
Income from Punjabi school 25 5,498

5 Raising funds

**Unrestricted ** Unrestricted
funds funds
2024 2023
£ £
Fundraising and publicity
Seeking donations, grants and legacies 158,001 151,970
Staff costs 4,131 55,989
162,132 207,959
By activity
Prayer service 117,306 100,849
Building 1,075 3,253
Langar 2,688 4,770
Weddings 34,294 61,891
Funerals 979 3,938
General 5,790 33,258
162,132 207,959

GURU NANAK SATSANG SABHA (KARMSAR) UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

6 Support and governance costs

Council tax, rates and water rates
Insurance
Light and heat
Telephone
Computer and internet
Bank charges
Motor and travelling
Repairs and Maintenance
Loan Interest
Sundry expenses
Depreciation
Audit fees
Legal and professional
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
28,902
-
13,589
-
130,453
-
4,616
-
842
-
4,456
-
1,973
-
63,528
-
62,613
-
256
-
110,228
-
-
9,600
-
3,600
421,457
13,200
421,457
13,200		 2024 Support costs Governance
costs
£
£
£
28,902
23,414
-
13,589
10,892
-
130,453
113,543
-
4,616
3,559
-
842
1,983
-
4,456
4,555
-
1,973
950
-
63,528
55,009
-
62,613
40,091
-
256
-
-
110,228
123,356
-
9,600
-
9,600
3,600
-
-
434,657
377,352
9,600
434,657
377,352
9,600		 2023
£
23,414
10,892
113,543
3,559
1,983
4,555
950
55,009
40,091
-
123,356
9,600
-
386,952
386,952

GURU NANAK SATSANG SABHA (KARMSAR) UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

7 Net movement in funds 2024 2023
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements 9,600 9,600
Depreciation of owned tangible fixed assets 110,228 123,356

8 Trustees' Remuneration and Benefits

There were no trustees remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

9 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs		 2024
Number
3
2024
£
3,210
921
4,131		 2023
Number
3
2023
£
37,682
18,307
55,989

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

GURU NANAK SATSANG SABHA (KARMSAR) UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

11
Tangible fixed assets
Freehold land
and buildings
Fixtures and
fittings
£
£
Cost
At 1 April 2023
5,763,893
163,307
Additions
34,507
17,430
At 31 March 2024
5,798,400
180,737
Depreciation and impairment
At 1 April 2023
1,907,220
160,997
Depreciation charged in the year
105,101
5,127
At 31 March 2024
2,012,321
166,124
Carrying amount
At 31 March 2024
3,786,079
14,613
At 31 March 2023
3,856,673
2,309
The land portion of the freehold land and buildings is valued at historical cost of £543,332.
12
Debtors
2024
Amounts falling due within one year:
£
Prepayments and accrued income
692
13
Loans and overdrafts
2024
£
Bank loans
822,177
Payable within one year
34,398
Payable after one year
787,779		 Total
£
5,927,200
51,937
5,979,137
2,068,217
110,228
2,178,445
3,800,692
3,858,982
2023
£
1,007
2023
£
849,798
34,398
815,400

GURU NANAK SATSANG SABHA (KARMSAR) UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

14 Creditors: amounts falling due within one year

Notes
Bank loans
13
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
Creditors: amounts falling due after more than one year
Notes
Bank loans
13		 2024
£
34,398
1,487
-
-
19,200
55,085
2024
£
787,779		 2023
£
34,398
56
3,967
4,060
28,800
71,281
2023
£
815,400

15 Creditors: amounts falling due after more than one year

The Company's loan facility is secured by a first charge on the freehold property at Ilford County Court, Buckingham Road, Ilford.

16 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

General funds
Previous year:
General funds		 At 1 April
2023
Incoming
resources
Resources
expended
At 31 March
2024
£
£
£
£
3,536,000
547,398
(596,789)
3,486,609
At 1 April
2022
Incoming
resources
Resources
expended
At 31 March
2023
£
£
£
£
3,534,683
596,227
(594,910)
3,536,000

17 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).