Charity Registration No. 104S458 BRENT SIKH CENTRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Rlchard Anthony Chartered Accountants and Registered Auditors
BRENT SIKH CENTRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr Avtar Singh Hoonjan Mr Narinder Singh MLJdhar Mrs Narinder Nathan Mrs Surinder Kaur Sahola Dr Mohinder Singh Sodhi Mrs Satbir Kaur Sokhi Mr Balkar Khurana MrAshishpal Singh Mrs Sunder Chi18 Mrs Kulwant Kaur Mr Gunrit Singh Ahluwalia Mr Paramjit Singh Sandhu Charity number 1045458 Audltor Richard Anthony 2nd Floor Gadd House Arcadia Avenue London N3 2JU
BRENT SIKH CENTRE CONTENTS Page Trustees, report Statement of trustees, responsibilities Independent audilorfs report StatemerTrl of financial activities Balance sheet Notes lo the financial statemtsnts 9-14
BRENT SIKH CENTRE TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The trustees present their report and accounts for the year ended 31 Decernber 2021. The financial stslements have been prepared in accordance with the accounting policies sel out in notes lo the financial statements and ¢omply with the Charities (Accounts and Reports) Regul81ions 2008, the Charities A¢1 2011 and 'Accounling and Reporting by Charities.. Ststement of Recommended Practice applicable lo charities preparing their accounts in accord8n¢e with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" {as amended lor accounting periods commen¢ing from 1 January 20161 Obje¢tive$ and activities Objectives and activities The Charitys principal activity throughout the year was in arranging services in accordance with tenets of Sikhism and no change is envisaged In the immediate future. Th6 IrLJStees have paid due regard lo guidance issued by Ihe Charity Commission in deciding what actiifjties the charity should undertake. The Iruslees have paid due regard lo guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and performance 2021 proved to be 8nother year of change for many. The COVID pandemic continLJed to present an impact on the Centre's services and programrH6s as we continued to follow proto¢ol, albeit with many ongoing constraints. The Centre was open daily for an hour in the morning and in the evening so that the Sangal could perform Darshan. During the restrictions Weddings 8nd funerals continued as per Government guidelines. Many families lost dear ones during 2020-2021 and we re¢ognise how hard this lime was for them and our pr8yers and thoughts werts wth them. Volunteers provided and distributed food and other essentials for those who needed il during the year. Our highly successful Onliné Punjabi lessons continued every Sunday. This provided some sort ol Continuity and familiarity lo the children, this could not have been done, but for the selfless commitrn¢nt of our dedicated teachers. When Sunday Diwan programming was resumed in November the centre officially reopen8d its doors, the services ¢ontinue to pick up following the pandemi¢ disruption. A¢hievemenls and performance during the year, the charity continued ils philanthropic a¢livilies in support of religious, educational, and social servIs. W8 are grateful lor all the help we received from volunteers during another challenging yéar. We continue lo grow. adjust and develop, aayS looking to improve our services and support for our Sangat and the wder community. The proud history we have, I know we will all continue to build upon this legacy into 2Q22 and beyond. Financlal r8view The financial results of the Chafily's activities for the year ended 31 December 2021 are fully reflected in the alta¢hed Financial Statements together with Notes thereon. It is the policy of the ¢harity lo maintain unrestricted funds, whi¢h are the free resetve of the charity, al a level whioh Ihe Trusl8$S think appropriate after considering the future commitments of the Charity and the likely administrative ¢osts of the charity for the next year. Undor the term of Trust deed, the Charity has the power to make any investment, which the trustees see fit. The trustees regularly review the Charity's position and needs in respect of the investment poli¢y. The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place lo mitigate exposure lo the major risks. The Iruslees plan lo continue to provide seNices and make improvements to the Centre and services and to ensure that an appropriate level of reserves is maintained.
BRENT SIKH CENTRE TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Stru¢tur•, governance and rnanagem•nt The charity was eslabllshed by a eharrtable trust deed on 29th March 1995, as amended by doed on the 11th of March 2001. The day to day affairs of thg Charity is administered by the eouncil of Committee members. Nonè of the Trustees have any bonèficial interest in the Ch81ity. The trustees who served durlng thè year and up to the dato of signature of the financial 51alemonts w•re'. MrAvtar Singh Hoonjan Mr Narinder Singh Mudhar Mrs Narinder Nathan Mrs Surinder Kaur Sahola Dr Mohinder Singh Sodhl Mrs Satbir KauT Sokh Mr Balkar Khur8na MrAshishpal Singh Mrs Sunder Chita Mrs KUnt Kaur Mr Gurmil Singh AhluwAlia Mr Pararnjll Slngh Sandhu Th8 Truste8s have applied suitable re¢Nitmènt and training procedures. The trustees, report was approved by the Board of Trustees. vtar Slngh Hoonjan Trustee Dated.. 7 February 2023
BRENT SIKH CENTRE STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2021 The trustees are responsible for preparing the Trustees. Report and the a¢¢ounts in accordance with applicable18W and United Kingdom Accounting Standards Iuniled Kingdom Generally Accepted Accounting Pr8¢ti¢el. The law applicable lo charities in England and Walès requires the Irusteos to prepare accounts for each financial year which give a true and lair view of the state of affairs of the ¢h8rity and of the in¢oming sOurceS and application of resources of the charity for that year. In preparing these accounts, the trustees are required lo.. seleol suitable ac¢ounting policies and then apply them consistently., observe the methods and principles In the Charities SORP., rnake judgements and eslimales that are reasonable and pnJdent-, slate whelhÉr applicable accounting standards have bèen followed. subject 10 8ny material departures disclosed and explained in the accounts., and Prepare the accounts on the goino COnM basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are respon51bl8 for keeping sufficient accounting records that disclose with reasonable a¢curacy al Sny lime the financial position of the charity and enable them lo ensure that the accounts comply with the Charities Ad 2011, the Charity IA¢¢ounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of tho charity and hence for taking reasonable stops for the prevention and detection of fraud and other irregularities.
BRENT SIKH CENTRE INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF BRENT SIKH CENTRE Opinion We have audited the financial stslemenls of Brent Sikh Centre Ithe 'charily'l for the year ended 31 December 2021 which comprise the statement of finan¢ial activities, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their prsparation is appli¢8ble law and United Kingdom A¢¢ounting Standards. including Finan¢ial Reportir)g Standard 102 The Finan¢i41 Reporting Standard applic&bl8 in the UK and Republic of Ireland Iunited Kingdom Generally A¢¢epted A¢¢ounling Practice). In our opinion, the finanryal statements.. give a true and fair view of the state of the charity's affairs as al 31 December 2021 and of its incoming resources and application ol resources. for the year then ended., have been properly prepared in accordance with United Kingdom Generally A¢¢epled Accounting Practlce., and have been prepared in accordance with the requirernenls of the Ch8rllles Act 2011. Basls for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and appli¢8ble law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the sudit of the financial slat&ments 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 stalerllenls in the UK, including the FRC'S Ethical Stsndard, and we have fulfilled our other ethical responsibilities a¢¢ordance with these requirements. We believe that th8 audit evidence we have obtsined is sufficient and appropriate lo provide a basis for our opinion. Conclusions relatlng to going concern In auditing the financial stslemenls, we have concluded that the trustees. use of the going concèrn basis of accounting in the preparation of the financial statements is sppropriate. Based on the work we have performed, we have not Idenlifled any material uncertainties relating to events or Conditions that, individually or collectively, may cast significant doubt on the charity's ability to ¢ontinue as a going concern for a period of al least twelve months frorn when tho financial statements are 8ulhorised for issue. Our responsibilities and th8 responsibilities of tho IrLJs16es with respect lo going concem are described in thè relevant sections of this report. Other Information The other information comprises the information included in the annual report other Ihan the financial stslements and our audilorfs report thereon. The Iruslees are responsible for the other information contained within the annual report. Our opinion on the financial slalemenls does not cover the other information and we do not express any form of assurance oonclusion Ihereon. Our responsibilily is to read the other information and. in doing so, consider whether the other information is materially inconsistenl with the financial statements or our knowledge obtsined in the course of th8 audit, or otherwise appears lo be materially misslaled. If we identify such material inconsisl6ncies 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, w8 conclude that there is a material misstatement ol this other information, we are required lo report that fact. We have nothing lo report in this regard. Matters on which we are requlred to rèport by exceptlon We have nothing lo report in respecl of the following matters in relation lo which the Charities IAccounts and Reports) Regulations 2008 require us to report lo you if, in our opinion.. the information given in the finanal slalemenls is inconsislenl in any material respect with the trustees. report,. or sufficient accounting records have not been kept,. or the financial slalements are not in agreement with the accounting re¢ords', or we have not received all the information and explanations we requi for our audit.
BRENT SIKH CENTRE INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF BRENT SIKH CENTRE Responsibilities of trustees As explained more fully in the slalement of Irustegs, responsibililias, 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 th6 preparation of financial s181tsments that are frée from material misststemenl, whether due lo fraud or error. In preparing the financial stalemenls, the trustees are responsible for assessing th8 Charity's ability lo continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going Concern basis ol accounting unless the trustees èither intend to ase operations, or have no realists'c alternative but to do so. Audltor's responsibllities for the audit of the financial statements We have been appointed as auditor under Saction 144 of the Charities Act 2011 and report in accordancg 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 missl8lem8nt, whether due to fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assuran¢e bul is not 8 guarantee that an audit conducted in accordance with ISAS IUKI will always dele¢t a material rnisstatemenl when it exists. Misstatements arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo 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 detsiled below. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11 www.frc.org.uklaudilorsresponsibilities. This description forms part of our auditor's report. Other matters Your altention is drawn lo the fact that the charity has prepared financial 518lements in accordance with "A¢counting and Reporting by Charities.. Statement of Recommended Pr8¢tice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appli¢able in the UK and Republic of Ireland IFRS 1021" las amended) in preference lo the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is réferred to in th8 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 Cuent Generally Accepted A¢¢ounting Practice. 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 IAccounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitys Irusleès those matters we are required lo slate to them in an auditor's Teport and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility lo anyone other than the charity and the charity's Iruslees as a body, for our audit work, for this report, or for the opinions we hav& formed. Michael Barnett BA FCA (Senlor Statutory Auditor) far and on behalf of Richard Anthony Chartered Accountants Statutory Auditor 2nd Floor Gadd House Arcadia Avenue London N3 2JU
BRENT SIKH CENTRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BRENT SIKH CENTRE Richard Anthony is eligible for appointrllenl as auditor of the charity by virtue of its eligibility for appointment as auditor of a cofflpany under secb'on 1212 of the Companies Act 2006.
BRENT SIKH CENTRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021 unStrICted Unrestrlcted funds funds 2021 2020 Notas Income from.. Donations and legacies Investments 132,612 23,805 70,408 24,403 Total in¢ome 156,417 94,811 enditure on: Charitable activities 127.501 123,709 Net incomellexpenditurel for the yearl Net movèment in funds 28,916 128,8981 Fund bal8n¢es al 1 January 2021 4.171,210 4,200,108 Fund balances at 31 Decembèr 2021 4,200,126 4,171,210 The statement of financial a¢tivities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
BRENT SIKH CENTRE BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Not•s flxed assèts Tangible assets 4,741,043 4,738,227 Curr•nt assèts Debtors Cash at bank and In hand 4,811 53,383 4,073 32,640 58,194 36,713 Cr•dltoTr- Amounts talllng due wlthln one yèar 11 (19,614) 128,198) Nel current assèts 38,580 8,515 Total Ass•ts l•s$ ¢urr•nt IlabllltlvJ 4,779,623 4.746,742 Credltorn: Amounts fAlllng du? aft•r mor• than onè year 12 1579,497) 1575,5321 N•t •ss•ts 4,200,126 4.171,210 Incom• funds General unfeslricted funds R¢valualion 2,753,396 1.446.730 2,724,480 1,446,730 4.200.128 4,171,210 4,200.126 4,171,210 The financial statements were approved by the Trusloès on 7 Fabruary 2023 MrAvtaf Singh Hoonlan Trustse
BRENT SIKH CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting poll¢les Charity information Brent Sikh Centre is a UK Unincorporated Charity. The registered address is 241 Slag Lane, Kingsbury, London NW9 OEF. 1.1 Accountlng conventlon The financial slatamenls hava been prepared in accordance with the Charities Act 2011 and Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their a¢¢ounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. las amended for accounting periods commencing from 1 January 20161. The ¢harity is a Public 8enefit Entity as defined by FRS 102. The charity has taken advantage of the prowsions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Slalement of Cash Flows. The financial statements h8v$ departed from the Charities IAccounls and Reports) Regul81ions 2008 only to the extent required lo provide a true and fair view. This departure has involved following the Ststement of R&¢ommended Practice for charities applying FRS 102 rathor than the version of the Statement of Recommended Practice which is referred to IN the Regulations bul which has since been withdrawn. The finanaal stslements are prepared in slerling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded lo the nearest £. The financial slalements have been prepared under the historical Cost convention, Imodified to includa the revaluation of freehold properties and lo include investment properties and certain financial instruments al fair valuel. The principal accounting policies adopted are sel out below. 1.2 Going concern Al the lime of approving the financial st818ments, the trustees have a reasoneble expectation that the charity has adequate resources lo Continue in operational existence for the foreseeable future. Thus the trustees continLJe lo adopt the going ¢oncern basis of accounting in preparing the finan¢ial statements. 1.3 Charitable funds Unrestricted funds are available for Ljse al the discretion of the trustees in furtherance of their charitsb5e objethv8s. Reslrictad funds are subject lo specific conditions by donors as to how Ihey may be used. Th& purposes and uses of the reslricled funds are set out in the notes lo the financial statements. Endowment funds are sublect lo specifi'c conditions by donors that the capllal musl be maintained by the ¢harity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been mel, th8 amounts can be measured reliably, and il is probable Ihal income will be r8ceived. Cash donations are recognised on reIpt. Other donations a recognised once the charity has been notified of the donation, unless pérformance conditions require deferral of the amount. Income tax recoverable in relation to donations received under GM Aid or deeds of covenant is recognised al tha time of the donation. Legaciés are recognised on receipt or otherwise if the charity has béen notified of an impending dislribulion, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a conlingenl asset.
BRENT SIKH CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Accountln9 poli¢18s (Continued) The value of volunteer help received is not included in the accounts. 1.5 Expendlture Expenditure is wognised once there is a legal or constructive obligation to transfer econornic benefit lo a third party, il is probable that a transftsr of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure Is classifled 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 allributable to 8 single activity are allocated directly lo that activity. Shared costs which wntribule to more than one activity and support costs which are not attributable to a single activity are apportioned between Ihose 8¢tivities on a basis consistent with the use of resources. Central staff costs are alSo¢ated on the basis of time spent. and depreciation charyes are allocated on the portion of the asset's use. Grants payable without performance conditions are only COgNised in the accounts when a commitment has been made and there are no Conditions lo be met rel81ing to grant which remain in the control of the charity. 1.6 Tanglble fixed assets Tangible fixed assets aro initially measured al cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreci8tion is recognised so as to write off the cost or valuation of assels18SS their residual values over their useful lives on the following bases.. Freehold property Leasehold property Plant and machinery Fixtur8s. litlings & equipment Not dèpreciated Not depreciated 15% reducing balance 150/0 reducing balance Thts gain or loss arising on the disposal of an asset is determined as the differenc8 between the sale proce8ds and the carrying value of the asset, and is reoognised in the statement of financial activities. 1.7 Impairment of fixed assèts At eath reporting end dale, 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 assèt is estimated in order to determine the exl8nt of the impairment loss lif any). 1.8 Cash and cash aquivalents Czsh and cash equivalents include cash in hand. deposits held at call with banks, other short-lerm liquid investments with original malurilies of three months or less. and bank overdrafts. Bank overdrafts a shown within bormwings in ¢urrent li8bilities. 1.9 Flnanclal Instruments The charity has elected lo apply the provisions of Section 11 'Basic Financia1 Instruments, and Section 12 'Olher Financial Instruments IssLJes' of FRS 102 to all ol its fin8ncial instruments. Finan¢ial instruments are rècognised in the charity's balance sheet when the charity becom9s party lo the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial stalemenls, when there is a legally enforceable right to sel off the recognised amounts and therts is an intention to sellle on a nel basis or to realise the asset and settle the liability simultaneously. 10-
BRENT SIKH CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 A¢¢ounting pollcles Icontlnued) Bas1¢ flnancial assets Basi¢ financial assets, which include debtors and cash and bank balances, ar8 initialty measured al transaction price including transaction costs and are subséqijenlly carriod at amort1S8d cost using the effective interest method unless the arrangement constilules a financing transaction, where the transaction is measured 81 the present value of the future receipts discounted al 8 market rate of interest. Financial assets Classified as receivable within one year are not amortised. 8asl¢ flnancial Ilabllilies Basic financial liabilities, including creditors and bank loans are initially recognised at Iransa¢lion price un5ess the arrangement constitutes a financing transaction, where the debt instrument is rneasured at the present value of the future payments discounted at a market rate of inler&st. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al arllortls cost, using the effective interest rale meth<)d. Trade crtsditors are obligations lo pay for goods or seNices that have been acouired in the ordinary course of operations from suppliers. Amounts payable 8re classrfied 8s current liabilities if paymtsnt is due within one year or less. If not, they are prasented as non-currenl liabilities. Trade credilors are recognised initially at transaction price 8nd subsequently measured at amortised Cost using the effective interest method. Derecognltlon of flnanclal liabilltlgs Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employoè benefits The cost of any untjsed holiday entitlement is recognistsd in the period in which the employee's services are r8ceived. Temiination benefits are recognised immedialely a5 an expense when the charity is demonstrably committed to lerminale the employment of an employee or to provide termin8tion benefits. 1.11 Rotlr8ment benafits Payments to defined contribution retirement benefit schemes are Charged as an expense as they fall due. Crltical accounting estim8tè$ and judgemants In the application of the charity's a¢¢ounting policies, the trustees are required to make judgernents, estimates and assLJmptions 8bout the carrying amount of assets and liabilities that are not readily apparent from other Sour$. The estimates and aSSlated assumptions are based on hislori¢al experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. The estimates and undedying assuTllPtions are reviewed on an ongoing basis. Revisions to accounting estimates 8rè recognised in Ihe period in which the eslimate is révised where the revision affects only that period, or in the period of the rewsion and future periods Whe the revision affects both current and future periods.
BRENT SIKH CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Donatlons and legacies 2021 2020 Donations and gifts GiftAid 132,612 51.525 18,883 132,612 70.408 Investments Unrestricted Unreslri¢led funds funds 2021 2020 Rental income 23,805 24,403 Governance ¢osts 2021 2020 Staff costs DepTeciation and impairment R8tes Insuran 48,171 2,283 3,844 6,596 52,473 1,786 5,908 7.294 F li Light and heat Repairs and maintenance Telephone and fax Cleaning Sundry expenses Bank charges Bank Interest Paid Audit fees 19,272 25,356 641 94 268 759 15,417 4,800 19,176 11,455 635 843 2,552 182 16.605 4,800 127,501 123,709 127.501 123,709 Trustees None of the trustees lor any persons connected with them) received any remuneration during the year. 12
BRENT SIKH CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Employ¢e$ Number of employees The average monlhly number of employees during the year was.. 2021 Numbor 2020 Number Admlnistration Employment costs 2021 2020 Wages and salaries Social security costs Other pension costs 46.788 49,213 871 2.389 1,383 48,171 52,473 Honorarium Cost amounting lo £18,100 12020.. £10,630) répresents the Cost of casual workers. who assist various functions when the requirement arises. There were no employees whose annual remuneration was £60.000 or more. Tangibl& fixed assets Freehold propÈrty Leasehold property Plant and machinery Flxture¥, fltt¢ngs & 8qulpment Total Cost Al 1 January 2021 1,167,738 3,560,364 3,668 27,105 4,758,875 Al 31 December 2021 1,167,738 3,560,364 3,668 27,105 4.758,875 Depre¢iatlon and impalrment At 1 January 2021 DepTe¢iation charged in the year 3,184 12,450 2,198 15,634 2,198 At 31 December 2021 3,184 14.648 17,832 Carrying amount At 31 De¢èmber 2021 1.167,738 3,560,364 484 12,457 4,741,043 At 31 December 2020 1,167,738 3,560,364 $69 9,556 4.738,227
BRENT SIKH CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 D¢btor$ 2021 2020 Amounts falllng due withln one year: Prepayments and accrued income 4,811 4,073 10 Loans and overdrafts 2021 2020 Bank loans 586,541 593,585 Payable withln one year Payable after one year 7,044 579,497 18,053 575,532 The long-term loans ar8 se¢urgd by fixed charges over tha assets of the Charity. The loan and interest is Tep8y8ble by 240 inslalrNenls of £3,634 from September 2018, however, addition81 repayments can be made al any time. Interest is charged at 2.5.10 per annum over base rate. 11 Creditors- amounts falling due thIn one year 2021 2020 Notes Bank loans Other taxation and social security Other creditors Accruals and deferred income 10 7,044 809 6,961 4,800 18,053 780 2,165 7,200 19,614 28,198 12 Creditors-. amounts falling due after more than one year 2021 2020 Notes Bank loans 10 579.497 575,532 13 Rèlated party transactlons There were no disd0s8ble related party transactions during the year12020- nonel. 14-