2025-03-31-accounts - Sangat Sikh Temple, Ipswich

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SANGAT SIKH TEMPLE

GURU NANAK GURDWARA

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

SANGAT SIKH TEMPLE GURU NANAK GURDWARA BUSINESS INFORMATION

Trustees Mr S Singh Mr T Singh Mr B Singh Mr S Singh Mr J Singh Accountants Staines and Co 235 Foxhall Road Ipswich Suffolk IP3 8LF Business address 719 Bramford Road Ipswich Suffolk IP1 5BD

SANGAT SIKH TEMPLE GURU NANAK GURDWARA CONTENTS

	Page
Accountants' report	1
Profit and loss account	2
Balance sheet	3
Notes to the financial statements	4 - 5

SANGAT SIKH TEMPLE GURU NANAK GURDWARA ACCOUNTANTS' REPORT TO THE PROPRIETOR

ON THE UNAUDITED FINANCIAL STATEMENTS OF SANGAT SIKH TEMPLE

In accordance with instructions, we have compiled the financial statements of Sangat Sikh Temple which comprise the Profit and loss account, the Balance sheet and the related notes, using the accruals basis.

You are responsible for the financial statements for the year which you have approved. It is our responsibility to compile the financial statements of Sangat Sikh Temple from the accounting records, information and explanations that you have supplied to us.

You have determined that the business is exempt from the statutory requirement for an audit for this accounting year. We have not carried out an audit or any other form of assurance review so we do not express any opinion on the financial statements.

The financial statements are provided exclusively for you. Therefore, we shall not be liable where the financial statements are used for any other purpose and/or relied upon by any other person(s).

Staines and Co

Accountants 235 Foxhall Road Ipswich Suffolk IP3 8LF

3 December 2025

SANGAT SIKH TEMPLE GURU NANAK GURDWARA PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Turnover Contributions and donations Administrative expenses Rent and rates Provisions, cleaning and laundry Light, heat and power Repairs and maintenance Insurance Legal and professional fees Accountancy Charitable donations Printing, postage and stationery Telephone and internet Events and sundry expenses Depreciation Operating profit/(loss) Investment revenues Bank interest received Profit/(loss) before taxation	2025 £ 5,993 12,080 14,393 15,559 3,211 3,820 510 1,318 142 542 14,204 208 897 12.51%	£ 81,251 (71,980) 9,271 897 10,168	2024 £ 6,208 8,214 11,871 18,169 2,867 254 510 101 303 503 - 277 637 0.72%	£ 48,291 (49,277) (986) 637 (349)

SANGAT SIKH TEMPLE GURU NANAK GURDWARA BALANCE SHEET

AS AT 31 MARCH 2025

2025 Notes £ Fixed assets Tangible assets 2 Current assets Cash at bank 79,059 Creditors: amounts falling due within one year 3 (23,278) Net current assets Total assets less current liabilities Capital account 4	2024 £ £ 242,677 66,864 (21,459) 55,781 298,458 298,458	£ 242,885 45,405
		288,290
		288,290

........................., I approve the financial statements set out on pages 2 to 5. I acknowledge my responsibility for the financial statements, including the appropriateness of the accounting basis as set out in note 1 to the financial statements, and for providing Staines and Co with all information and explanations necessary for their compilation.

The financial statements were signed on 2 December 2025.

Mr S Singh

SANGAT SIKH TEMPLE GURU NANAK GURDWARA NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

The principal accounting policies applied are as follows.

1.1 Basis of preparation

The financial information is compiled on an agreed accounting basis that enables profits to be calculated such as to meet the requirements of Section 25 of the Income Tax (Trading and Other Income) Act 2005, and provides sufficient and relevant information to enable the completion of a tax return.

The financial statements have been prepared in accordance with the recognition and measurement principles of UK GAAP - FRS 102 [other than the following departures which are neutral for income tax purposes:

Freehold properties are not depreciated
Investment properties are carried as historical cost and are not depreciated
Investment property components of freehold property have not been separately accounted for and are therefore carried as a complete asset
The investment portfolio has been has been accounted for at historical cost, net of any impairment losses, rather than at fair value
Financing transactions, such as interest free loans to or from related parties have not been discounted to net present value].

Presentation and disclosure requirements of FRS 102 have not been followed as these are not relevant to the sole trader.

1.2 Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

1.3 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost 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:

Leasehold land and buildings No depreciation Fixtures and fittings 25% reducing balance

SANGAT SIKH TEMPLE GURU NANAK GURDWARA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

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 credited or charged to profit or loss.

2 Tangible fixed assets

Tangible fixed assets
Land and buildings Plant and machinery etc £ £ Cost At 1 April 2024 and 31 March 2025 242,054 32,140 Depreciation and impairment At 1 April 2024 - 31,309 Depreciation charged in the year - 208 At 31 March 2025 - 31,517 Carrying amount At 31 March 2025 242,054 623 At 31 March 2024 242,054 831	Total £ 274,194
	31,309 208
	31,517
	242,677
	242,885

3 Creditors: amounts falling due within one year

3 Creditors: amounts falling due within one year
Other creditors 4 Capital account Opening balance Profit/(loss) Closing balance	2025 £ 23,278 2025 £ 288,290 10,168 298,458	2024 £ 21,459
		2024 £ 288,639 (349)
		288,290