Charty rowtratlon number 1045458
BRENT SIKH CENTRE
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Richard Anthony
Chartered Ac¢ountants and Reglstsrnd Audltor4

BRENT SIKH CENTRE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
MrA S Hoonjan
Mr N S Mudhar
Mrs N Nalhan
Mrs S K Sahota
Mr P S Sandhu
Dr M S Sodhi
Mrs S K S(*hi
Mr B Khar￿a
MrA Singh
Mrs S Chita
Mrs K Kaur
Mr G S Ahluwalia
ChaTity number
1045458
Auditor
Richard Anthony
Ground Floof Cooper H(iuse
316 Regents Park Road
London
United ￿ngdorn
N3 2JX

BRENT SIKH CENTRE
CONTENTS
Page
Trustees. report
SLqtement of trustees, reswnslt￿ll1ieS
Independent auditorfs report
Statement of fina￿81 acti￿lieS
Balance sheet
Notes to the fjnanctal statements
9-18

BRENT SIKH CENTRE
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees present their rewt and accounts ts the year erKled 31 De(%rnber 2023.
The ffinancial statements have been prepwed in accordance the accounting polioes set out in note 1 to Ihe
financial staternents and compty with the chaTitls trust deed. the Charitses Act 2011 and "AC￿lUnting and Reporting
by Charities: Statement of Recommended Practice appkable to tharities preparing their accounts in accordance
with Ihe Financial Reporting Standard applicable in the UK and Republ￿ of IrelarHI {FRS 102)" (effective 1 January
2019).
Ob￿CtiVeS and activitses
The Charity's principal adNity throughout the year was in awanging Servi￿ in accordance with tenets of Sikhism
and no change is envisaged in the imrnediate future. The trustees have paid due regard to guidan￿ issued ty the
Charity Commission in dec*Jry what acb'vitie5 the cbarrty should undertake.
The trustees have paMI due regard to widance iss￿1 by Ihe Chaiity Cornmiss￿n in deciding what activities the
harity should undertake.
Achlevements and performnco
As we iefiect on 2023, we are grateful for the (￿tInued blessings of Waheguru and support of our dedicated
5angat.
We are grateful for the contiwed support from our ￿rnMunty, dofi￿. and volunteers. SIr￿e the beginning of 2023
our existing programrnes are fulty functional, including short daily moming and evening sessions, with
comprehensive programs on spectfic days: Vkdnesday momings featu￿ the Sukhmani Sahib Path, Thursday
evenings are dedicated to Katha with Kirtan, and Sunday momings offer a combination of Sukhmani Sahib Path.
Katha, and Kirtan. Additionally, special programs for ￿M￿n. Gurwrth. Puranrnashi. and Sangrand.
We look foThvard to building on this momentum and Continuing our mission of setkss sep4ice in the year ahead.
Founded in 1995, BSC is dedicated to serving Ihe Cornm￿ty by prowding spiritual, Guhural and soeial hub for the
Sikh communty. essential services roui8d in Sikh values of seva (semess service) and Sarbal da Bhalla (welfare of
all).
Our mission to provide support and resources to those in need. wided by the principles of equalty. wnpassion and
selfless service. £10,000 was donaled to Khalsa Aid for their disaster fund. Our volunteers are the backbone of our
organisation. Our volunteers ¢ontrlJuted m(¥e than 20,IJX) hours of sellless service.
Our efforts conlinue to touch counlles5 lives, su￿$$ is a testament to the unwavering support of donors.
volunteers and sangat.
We are deeply grateful for their dedic*ion and hard WÉ%
Financial review
The financial results of Ihe Charws actsvtlies for the year ended 31 DecAnber 2023 are fully refiected in the
attached Financial Statements together with Notes thereon.
It is the policy of the charity to maintsin unrestricted funds. vthich are the free ieserve of the charity, at a level whid)
the Trustees think approptiate after consthring the future commitments of the Charity and the likety administrative
costs of Ihe chanty for the next year.
Under the tem of Tfust deed, the Charity has the power to make any investment. whith the trustees see frt.
The twslees regulaty review the Charity's Position arxl needs in respect of the investrnent pohcy. The trustees
have assessed the major risks to whKh the d)arity is exposed. and are salisw that systems are in place to
mrtigate exposure to the major risks.

BRENT SIKH CENTRE
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Plans tor fu￿re p•rlod8
I he liuslees plan lo ¢onlmue to pro¥￿e Ser￿ceS and make improvements lo the Cenlre and ser¥tts and lo ensure
Ihal an appropnale level ol reseNes Is maintained
Stru¢turn. gov•rnan¢• and fflanag•m•nt
The chanty was established by a chanlable In￿1 deed on 291h March 1995. as an*nded by deed on the 111h of
March 2￿185 amended on 12 June 2018
The day lo day affairs of Ihe Charty ￿ admintstefed by the ol Commillee rnmbers None of the Trustees
have any beneficial Inleresl In the Chanty
The trustees who seThed during the yeaf and up lo the dak of 5walure ol the fina￿la1 ststemenls were
Mr A S Hoonjan
Mr N S Mudhar
Mr5 N Nathan
Mrs S K Sahola
Mr P S Sandhu
Dr M S Sodhi
Mrs S K Sokhi
Mr B Khaiana
MrA Singh
Mts S Chrta
Mr$ K Kaur
Mr G SAhluwal
The Tfuslees have aPpl￿d suilable reuurtment and traffung pro(*dures
The Iru
es. report was apwoved by the Boa￿ of Truslees
MrA S Hoonjan
Trusts•
Dale
13-i¢J:19

BRENT SIKH CENTRE
STATEMENT OF TRUSTEES. RESPONSIBILrriES
FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees are responsible for Preparing the Trustees. Report and the final￿al statements in accordance with
applicable law and United Kingdom AcCO￿ting Stsndards (United Kingdom Generally Accepted Actx)unling
Practice).
The law applicable to thartties in Enland and requires the truslees to prepare fina￿la1 statements for each
financial year which give a true and fair view of the state of affairs of the thality and of the incoming resources and
application of resources of the charity for that year.
In preparing these fin￿ClaI ststements, the truslees are required to:
- select suitable accounting policies and then apply them con$istenUy:
- observe the methods and prinaples in the Charities SORP:
- make judgements and estimates that ale reasonable arKI pnxl￿rt.
- state whether apph'¢able attomting standards have been folkMed. sut4.ect to any material departures disdosed
and explained in the financial sLqtements; and
- prepare the ffinaniial statements on the going concem basis unless it is ￿apprOpriate to presume that the tharity
will continue in operation.
The trustees are responsible for keeping $uffK*nt acc(xmling records that disc*)se with reasonatAe accuraw at any
time the financial positi.on of the tharity and enable them to ensure that the financial statements comply wtth the
Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They
are also responsible for safeguarding the assets of the (tsrity and henGe for tsking reasonable step5 for the
prevention and detection of fraud and other irregulaTilies.

BRENT SIKH CENTRE
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF BRENT SIKH CENTRE
Oplnlon
We have audited the financial statements of Brent Sikh Centre (the 'chariV) for the year ended 31 Oecember 2023
which comprise the statement of financial activiti.es. the balance sheet and notes to the financial ststements,
induding significant accounting policies. The finanoal reporting framework that has been applied in their preparation
is applicable law and United Kingdom Accounting Stsndards, including Finanaal Reporting Standard 102 The
FinanGial Reporting Standard applicable in the UK and Republic of Ireland (Unrted lfjngdom Generalty Accepted
Accounting Practice).
In our opinion. the finanoal statements:
give a true and fair view of the stste of the charilys affairs as at 31 December 2023 and of its incoming
resources and application of resources, for the year then ended:
have been properly prepared in ￿)rdance with United ￿ngdorn Generally Accepted Accounting Practice:
and
have been prepared in accordance wilh the requirements of the Chariiies Act 2011.
Basls for opinlon
We conducted our audtl in accordance wtth Intemational Standards M AuditirKJ (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those slandards are further described in the Auditorfs reswnsitsliti8s for the audit of
th& financial statements section of our report. We are independent of the diarity in acGordance wth 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 fuffilled our other ethical responsibil1t￿S in accordance with these fequirements. We believe
that the audit eviden￿ we have obtained is suffiaent and appropriate lo provide a basis for our oiwnion.
Conclusions relating to going concem
In auditing the finanaal Statements. we have concluded that the Injstees, use of the going concem bas￿ of
accounting in the preparation of the financial statements is •WOPTiate.
Based on the work we hav8 perforn)ed. we have not identtfied any material ￿certainlieS relating to events or
conditions that, individually or collectively, may cast significant doubt on the tharrtls abilty to Continue as a going
oncern for a period of al least ￿e1Ve months from when the financial statements are authorised for issue.
Our respon5ibiltties and the responsibl￿tIeS of 1he tNstees with resped to going ￿nCern are described in the
relevant sections of this reporL
Other InfomMtlon
The other information comprises the information included in the annual report other than the financial statements
and our audii0rf5 report thereon. The trustees are responsible for the other infomiation contained within the annual
report. Our opinion on the financial statements does not Cover the i)ther infomiation and we do not exp￿$$ any form
of assurance condusion thereon. Our responsibilty is to read the other information and. in doing so, consider
whether the other inforniation is materially inconsistent with the financial statements or our knowledge obtained in
the course of the audit, or othepNise appears to be materially misstated. If we identify such material inconsistenc4es
or apparent material misstatements, we are required to detemine whether this gives rise to a material misstatement
in the financial statements themselves. If. based on the work we have perfO￿ed, we ￿ndUde thal there is
material misstalemenl of this other infomiation, we are required to report that facl.
We have nothing io report in this regard.
Matters on which we are requlrod to rnport by excepoon
We have nothing to report in resped of the foll0v￿ng matters in relation to which the Charities {Ac¢ounts and
Reports) Regulations 2008 require us to report to you rf, in our opinson..
the infomation given in the financial statements is inconsistent in any material respect v•ith the Irustees,
report; or
sufficient accounting records have not been kept: or
Ihe financial statements are not in agreement with the aL¥x)unling records; or
we have not received all the information arKI explanalions we require for our aud

BRENT SIKH CENTRE
INDEPENDENT AUDITOR'S REPORT ICONTINUED)
TO THE TRUSTEES OF BRENT SIKH CENTRE
Responsibilities of trustegs
As explained more fully in the statement of trustee5' responsknilities, the trustees are responsible for the preparation
of the financial statements and for being satisfied that they give a true and fair wew, and for such internal control as
the trustees detefmine is necessary to enable the preparation of ffinanc4al 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 abilty to continue as a going concem. disdosing. as applicable. matters related to going
*ncem and using the going con¢em basis of accx)unling unless the trustees either intend to cease operations, 01
have no realislic alternative but to do so.
Auditorf$ rnsponsibililies for the audlt of the financlal statements
We have been appointed as auditor under sedion 144 of the Charities Ad 2011 arml reFN)rt in accordance with the
Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the finanual ststements as a wholè are free from
material misstatement, whether due to fraud or error, and to issue an auditorfs report that incjudes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conduded in accordance
with ISAS (UK) will always delect a material misstatement when it exists. Misstatements r2n arise from fraud or
error and are considered material rf. individually or in the aggregate, they could reasonaNy be expected to influence
the economic decisions of users tsken on the basis of these financial statements.
Irregularities, irKSuding fraLKI, are instances of no1￿MplIanCe with laws and regulations. Wle design procedures in
line wrth our responsibilities, outlined above, to detect material misstatements in fesped of irregularilies, including
fraud. The extent to which our procedures are capable of detecting irregularities, induding fraud. is detailed below.
The charity is subied to laws and regulations that directty affed the financial statements induding financial reporting
legislation. We delemiined that the followw)g laws and regulations were most significant:
Charities Act 2011
FRS 102
Charities SORP
UK employment legislation
UK heallh and safety legislation
General Data Protection Regulations
Anti-money laundering regulations
We assessed the exlent of compliance with these laws and regulations as part of our procedures on the related
finanrial statemènt items.
We understood how the tharity is complying with those legal and ￿ulatOry frameworks by making inquiries of
management and those responsible for legal and compliance procedures.
The engagement partner assessed whether the engagement team ￿le￿1velY had the apF*oprrate competency and
pabilities to identify or recognise norFcompliance with these laws and regulations. The assessment did not
identify any issues in this area.
We assessed the susceptibility of the entivs financial statements to material misstatement, induding fraud
might occur. Audit procedures perfomied by the engagement leam included:
Identi￿'ng and assessing the measures management has in place to wevent and detect fraud,
Understanding how those charged with governan￿ considered and addressed the potential for override of
controls or other inappropriate infiuence over the finanaal rewrting process,
Challenging assumplions and judgements made by management in its significant estimates. and
Identfying and testing joumal entries. in particular any N)umal entries posted with unusual account
coMbinat￿nS.

BRENT SIKH CENTRE
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF BRENT SIKH CENTRE
As a result of the above proGedures. we consldered the opportunities and incentives that may exisl With￿ the
organisation for traud and identified the greatest potential existed wiihin the recording and recognition of revenue.
Our procedures in this respect were focused on the origination of revenue ar￿ directed towards ensuring the
atturacy and completeness of the same by undertaking testing on a sample basis of the revenue it8ms to ensure
that sales had been recorded corredly and in the appropriate accounting period. We consider that Ihe work we
undertook in this regard was ￿nsIdered capable of detecting I￿egUlarl14eS and fraud within Ihe sales cycle.
Due to the inherent limitations of an audit, there is a risk that we wal not detect all irregularities, induding those
leading to a material misstalement in the financial ststements Of noTrcompliance with regulatKins. This risk
increases more that compliance y￿th a law or regulation is removed from the events and transactions refieded in
the financial ststements, as we will be less likely to become aware of instances of n0nwcompllan￿. Therefore, rf a
breach of operational regulations is not disclosed to us or evident from relevant correspondence. an audit will not
detect that breath. The risk is also greater regarding irregulariiies occurring to fraud other than error, as fraud
involves intentional concealment. forgery, collusion, omission. or misrep￿senta￿n.
A further descriplion of our responsibilities is available on the Financial Rewting Council's website at: lrttpsjl
w4iw.frc.org.ukJauditorsiesponsibilitses. This description fomis part of our auditorfs report.
Other matter4
Your attention is drawn to the fact ttlat the ¢hanty has prepared financial statements in aL*ordanGe with "Accounting
and Reporting by Charities: Statement of Recommended Praclice applicable lo charities Pfeparing 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 Accounts'ng and Reporting by Charities.. Statement of Recommended Practice issued
on 1 April 2005 which is referred lo in the extant regulalions but ha5 rM)w been withdrawn.
This has been done in order for the financial statements lo proNide a and fair view in accordance with current
Generalty Accepted Accounting Practice.
Use of our report
This ￿pOrt is made solely to the chaiity's Iru$tees, 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 stste to them in ￿ auditorfs report and for no other pury)ose. To the fvllest extent
permitted by law, we do not accepl or assume responsibility to anyone otheT than the charity and Ihe charitys
trustees as a body. for our audit worK for this report, or for the opinions we have fomied.
Michael Bamett BA FCA Isenior Ststutory Auditor)
for and on behalf of Richard Anthony
2J ac4ofjc£ zo14
Chartered Accountants
Statutory Auditor
Ground Floor Cooper House
316 Regents Park Road
London
United langdom
N3 2JX
Rlchard Anthony is eligible for appointment as auditor of the charty by virlue of its eligibility for appointment as
auditor of a company under section 1212 of the CompaniesAct 21]06.

BRENT SIKH CENTRE
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestricted Restrlcted
funds
funds
2023
2023
Totsl Unrestricted Restricted
funds
funds
2022
2022
Total
2023
2022
Income from:
Donations and legacies
Investments
375.318
42,700
375.318
42,71)0
227,348
27,150
227,348
27,150
Totsl Income
418.018
418.018
254.498
254.498
ExpendI￿re on:
Raising funds
Charitable adivities
25,621
255.993
25.621
255.993
19,521
169,143
19.521
169,143
Total expendltwe
281,614
281.614
188,664
188,664
Not Income and movement in
fvnds
136.404
136,404
65.834
65,834
Reconclllation of funds:
Fund balances at 1 January
2023
2,819.230 1,446,730 4.265.960
2.753,396 1,446,730 4,200,126
Fund balan¢es at 31
December 2023
2.955.634 1.446,730 4,402.364
2.819,230 1.446.730 4,285,960
The stalement of financ4al adivities indudes all gains and losses recognised in the year. All income and expenditure
derive from continuing actiwties.

BRENT SIKH CENTRE
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
110ts8
Flxed assets
Tangible assels
Investment property
11
12
3.581,387
1,167.738
3,572,022
1.167.738
4.749,125
4,739.760
Current a¥s•ts
Debtors
Cash al bank and in hand
13
15,869
38.452
4.867
48.253
54,321
53,120
Credllorn: amounts falllng due wlthln
one y•ar
15
(81229)
134.174)
N•t eurr•nt (IlAblllllesV4ssets
(26.908)
18,946
Total •$sets less curr•nt Ilabllltles
4.722.217
4.758.706
Cr•dltors: amounts falllng due aft•r
mor• than one y•ar
16
(357.577)
(492.746)
Net assets ex¢ludlng p•nslon Ilabllxy
4,364.640
4,265.960
N•t as••ts
4.364.640
4,265,SfjO
Th• fund8 of th• Gharlty
Restncted income fuNIs
Unrestrirted funds
18
1.446,730
2.917,910
1,446.730
2.819.230
4.364.640
4.265,960
The financial statements were approNTd by the tiustses on Il.li. fts+
S Hoonjan
Trt￿ty•

BRENT SIKH CENTRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policie•
Charity Information
Brent Sikh Centre is a UK Unincorporated Charity. The registered address 241 Stag ￿e, Kingsbury.
London NW3 OEF.
1.1 Accounting convenlion
The finan(ual ststements have been prepared in accordance with the charitls trust deed. the Chartlies Act
2011 FRS 102 "The Financial Repotting Standard apph'cable in the UK and Republic of Ireland" fFRS 102
and th8 Charilies SORP "Accounting and Reporting by Charities: Ststement of Recommended Practice
applicable to charities preparing their accounts in accordance wilh the Financial Reporting Stsndard
applicable in the UK and Rèpublic of Ireland {FRS 102)" (effective 1 January 2019). The charity is a Public
Benefit Entity as defjned by FRS 102.
The charity has taken advantage of the provisions in Ihe SORP for tharities not kn prepare a Statement of
Cash Flows.
The finanual statements have departed from the Charities (Accounts and Reports) Regulat￿nS 2008 only to
the extent required to provide a true and fair v￿. This departure has involved following the Statement of
Recommended Practice for tharities applying FRS 102 rather than the version of the Statement of
Recommended Pradtce which is referred to in the Regulats"ons but which has Sin￿ been withdrawn.
The financial statements are prepared in sterfing, which is the functional ￿￿encY of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial stalements have been prepared under the historical cost convention, modified to indude the
revaluation of freehold propèrties and to indude investment properties and certain financial instrum8nls at fair
value. The principal accounting poliaes adopted are set out below.
1.2 Going Concern
Al the time of approving the ffinancial statements. the Irustees have a reasonable expectstion that the tharity
has adequate resources to conlinue in operational existence for the foreseeable future. Thus the Irustees
continue to adopt the going concem basis of wiuntiThJ in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are availaNe for use al the discretion of the trustees in furtherance of their tharitable
objectives.
Restricted funds are subject to specific conthtions by donors or wantors as to how they may be used. The
purposes and uses of the restTicled funds are set OLIt in the notes lo the finanual stalements.
Endowment funds are subject to speafic conditions by don(n thal the captiai must be maintained by the
charity.
1.4 Income
Income is recognised vthen the ¢hanty is legally entilled lo it after arry perfomance conditions have been met,
Ihe amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on reGeipt. Other donations are recognised once the charity has been notified
of the donation. unless performance conditsons require deferral of the amount. Income tax recoverable in
relation to donations received under Gifi Aid or deeds of Covenant is recognised at the time of the donation.
Legaaes are recognised on receipt or otheThvise rf Ihe Gharity has been notified of an impending distribution,
the amount is known. and r￿1p1 is expected. If the amount is not known, the legaw is treated as a
contingent asset.

BRENT SIKH CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounllng pollcles
Icontinued)
The value of volunleer help received is nol induded in the a¢￿unts.
1.5 Expenditure
Expenditure is recognised once there is a legal or construdive obligation lo transfer e¢onc￿lC berofft to
third party, it is probable that a transfer of economic benefits wil be required in settlement, and the amount of
the obligation Gan b8 measured relobly.
Expenditure is classif*d by activity. The costs of each are made up of lolal of direct Costs and
shared costs, induding 5UPPOrt oosts involved in undertaking each activity. Dffect ￿St$ attributable to a single
activity are allocaled directly to that act4Vity. Shared costs which contribute to more than one actiwty and
support ￿•sts which are not attributable to a single activtty are apportioned bets¥een those activibes on a basis
CL*nsistent with the use of resources. Central staff ￿sts a￿ allocated on the basis of time spert and
depreciation charges are allocated on the pothjn of the assefs use.
Grants payable without perfonnance Condrtions are only re¢¢)gnised in the aca)unts when a ￿mmItMent has
been made and there are no conditions to be met ￿lating to grarrt whith remain in Ihe control of the charity.
1.6 Tanglble fixed as¥ets
Tangible fixed assets are initialty measured at cosl and subsequently measured at cost or valuation. net of
depreciation and any impairment losses.
Depreciation is recognised so as to write off the cosl or valuation of assets less their residual values over their
useful lives on Ihe following bases..
Leasehold propety
Plant and machinery
Fixtures. fittings & equipmenl
Not depreciated
15% reduGing balan
15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference beiween the sale proceeds
and the Ca￿Ing value of the assec and is tecognised in the statement of financial adivities.
1.7 Inve8lmont proprty
Investment property, which is property held to earn rentals andlor for ¢apital appreciation. is initialty
recognised at cost. which indudes the purchase cost and any diredly attributable expenditure. Subsequently
rt is measured at fair value at the reporting end date. The Surplus or defiiit on revaluation is recognised in
proffit or loss.
1.8 Impairn)ent of fixed assets
Al each reporting end date. the ¢harity reviews the carying an￿untS of its tangible assets to determine
whether there is any indication that those assets have suffered an impaimient loss. If any such indication
exists. the recoverable amount of the asset is estimaled in order lo detem)ine the extent of the impairment
loss (rf any).
1.9 Cash and cash equivalents
Cash and cash equivalents include cash ￿ hand. deposits held at call with banks. other short-tenn liquid
investments with or￿inal maturTties of three months or less. and bank oveidrafts. Bank overdrafts are shown
within borrowings in Current liabilities.
10-

BRENT SIKH CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policle•
(Continued)
1.10 Flnancial Instruments
The chaiity has elected to apply the provisions of Section 11 'Basic FinaThial Instruments, and Section 12
'(Xher Financial Instruments Issues, of FRS 102 to all of its ffinanckal instruments.
Finanaal instruments are reiJ)gnised in the charivs balance sheet when the charity be¢omes party to the
contraciual provisions of the inslnttnent
Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when
there is a legalSy enforceable right to set off the recognised amounts arKI there is an intention to settle on a net
basis or to realise the asset and settle the liability simultaneousty.
Basic finanelal assets
Basic financial assets. which indude debtors and cash and bank balances, a￿ initialty measured al
transaction price including transaction costs and are subsequenty carried al amortised cost using the effective
interest method unless the arrangement constitutes a finanang transaction. where the transaction is
measured at the present value of the future re￿ipts discounted at a market rate of interest. Financial assets
dassified as receivable within one year are not amortised.
Basi¢ flnancial liabllities
Basic financial liabilthes, including creditors and bank loans are initially recognised al transaction price unless
the arrangement constitutes a financing Iransadion. vthere the debt instrurnenl is measured * 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 Ca￿led al amortised cost. using the effeclive wrterest rate ff￿th0d.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary wirse of
operations from suppliers. Amounts payable are dassified as current liabi15ties rf payment is due within one
year or less. If nol. they are presented as norpcurrent liabilrties. Trade rJeditors are recognised inilially at
transaction price and subsequ8ntty measured at amortised cost using the effective interest method.
Derecognition of financlal liabilitles
Financial liabilities are derecognised when the d)ariVs Contractu￿ obligations expire or are discharged or
cancelled.
1.11 Employeè benefits
The cosl of any unused holiday entitlement is recognised in the period in whith the employ88's services are
received.
Temination beneffts are recognised Immediate￿ as an expense when the chaiity is demonstrabty ¢ommiited
terminate the enM)loymenl of an employee or to proNryde termination beneffts.
1.12 Retirement bonefits
Payments to defined corrtribution retirement benefrt sd*mes are tharged as an expense as they fall due.
11

BRENT SIKH CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Crftlul accounting estEmatss and judgemgnts
In the application of the char*￿3 accounting pol¢ie$. the trustees are required to make judgements. estimates
and assumptions about the carrying amount of asset5 and liabl￿tieS that are not readily apparent from other
sources. The estimates and assoaated a5sumplioDs are based on histori￿1 experience and other fact￿5 that
e considered to be relevant. Actual Te5u￿S may drffer from these estimates.
The estimates and underlyin9 assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is ￿vISed where the revision affects only that
period, or in the period of the revision and future periods where the revision affeGts both ￿Tren1 and future
periods.
Income from donatlon$ and kga¢les
Unrestricted Unrestrtctsd
funds
fund3
2023
2022
Donations and gifts
Legacies receivable
304,212
71,106
227,348
375.318
227,348
kncome from Investments
Unrestrlcted Unre$trlcted
fund$
funds
2023
2022
Rental income
42.700
27,150
Expenditur• on r41slng funds
Unrestrlcted Unrestrlcted
funds
fund•
2023
2022
Fundrnlsing and publlclty
oth￿ fundraising costs
25,621
19,521
12-

BRENT SIKH CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Expendikne on chorftable aGllvNies
Unrestrictsd Unrestricted
funds
funds
2023
2022
Direct Costs
Staff Costs
Depreciation and impaimient
Rates
Insurance
ght and heat
Repairs and maintenance
Telecommunications
Sundry expenses
Donations
Bank charges
Bank and k)an interest
Audit fees
Other interest payable
91.825
3.710
6,738
8,238
34,073
57.335
696
982
10,250
2.130
34.023
4,800
1,193
84.135
2,058
2.353
7.440
23,482
22,566
646
133
1.330
21,366
2,870
255,993
169,143
Anatysls by fund
Unrestricted funds
255,993
169,143
Net movement in funds
2023
2022
The net movemenl in funds is stated after thargingl(thdrting):
Depreciation of owned tsngible frxed assets
3.710
2,058
Trustees
None of the tTU5tees lor any persons conneded with them) received any remunerakn'on during the year.
Enwloye
The average monthly rnunber of empbyees during the year was."
2023
Numbor
2022
Number
Administration
13-

BRENT SIKH CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2023
Employ
Icontlnued)
Employment costs
2023
2022
Wages and salaries
Social Security costs
Other pension costs
91,489
(259}
595
82,979
259
897
91,825
84,135
Honorarium ¢ost amounting to £33,OIJO {2022: £33.0(Kl) represent5 the cost of casual workeis, who assist
variou5 fundion5 when Ihe requirement arises.
There were no employees whose annual remunera￿ was more than £60,000.
10 Taxation
The charty is exenw from tsx on wi￿rne and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Taxation Chargeable Gains Act 1992 to ts extent that these are applied to its charitable obje(as.
11 Tanglble fixed assets
Totsl
FKopgrty mwohin•ry
ffttings &
•qulpm¥nl
Cost or valuation
At 1 January 2023
Additions
3.560.364
27.880 3,591.912
13.075
13,075
At 31 Dec8mber 2023
3,560.364
40.955 3.604.987
Depreciatlon and Impalrm•nt
Al 1 January 2023
Deprecialion charged in the year
3,257
62
16.633
3.648
19.890
3,71Q
At 31 December 2023
3.319
20,281
23,600
Carrylng amount
At 31 December 2023
3,560.364
349
20.674 3.581,387
At 31 December 2022
3.560.364
11,247 3.572,022
Land and buildings with a carrying amount of £3,560,364 were revalued by the trustees on the basis of
maTket value. The valuation conforrn5 to Intemational Valuation Standards and was based on r￿nt market
transactions on arm's length tems for similar properfies.
At 31 December 2023, had the revalued assets been orried al historic cost less accumulated depreciation
and accumulated impairment10sses, their carrying amount w0￿d have been appr0￿matelY £2,113,634 (2022
- £2,113.634).
14-

BRENT SIKH CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
11 Tangible fixed assets
(Continued)
Attached to the trtle deed of the leasehold land are Ihe followng provision and restrictions:
(9 August 2000) Provided always and it is hereby agreed that the Purchasers their successors or
assigns shall not be entttled lo any right of light or air which would in any manner diminish or interfere
with the free and unrestricted user of any adjoining property now or lately belonging to the Company
either for building or any other Purpose and the assurar•ce hereinbefore contained shall not be
deemed or construed to Nnply the grant of any such right
(9 August 201x1) No disposition by a t•ole propiietor of the land (not being a Irust corporation) under
which capital nKJney arises is to be registered ex￿P1 under ￿ order of the registrar or of the Court.
(23 July 2￿1) Except under an order of the ￿iStrar no disposition by the proprietor of the land is lo
be registsred without the consenl of the proprietor of the Charge dated 30 May 2001 in favour of The
Royal Bank Of Scodand PLC referred to in the Charges Registei.
12 Investment property
2023
Falr valug
At 1 January 2023 and 31 December 2023
1,167,738
Inveslment property comprises of 130 Slag HA8 5LL and 296 Stag Lane NW3 OEG. The fair value of
the investment property has been arrived at on the basis of a valuation carried out al £1.167.738 by trustees.
The valuation was made on an open market value basis by reference to market evidence of transaction prices
for similar properties.
Attached to the title deed of 130 Stag Lane a￿ the following restrKtions:
(22 May 2014) No disposition by a sole proprietor of wegistered èstate (except a trust corporation)
under which capital money arises is lo registered unless authorised by an order of the court.
(22 May 2014) No disposilion of the registered estate by the proprietor of thè registered estate is to
be registered without a written consent signed by the proprietor for the time being of the Charge
dated 29 April 2014 in favour of The Royal Bank of Scotland PLC referred lo in the Charges Register.
13 Debtors
2023
2022
Amounts falling due wlthln one year.
Other debtors
Prepayments and accTued income
5.569
49.312
4,867
54.881
4,867
15-

BRENT SIKH CENTRE
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2023
14 Loans and overdrafis
2023
2022
Bank loans
422.577
512.885
Payable within one year
Payable after one year
65.000
357.577
20.139
492,746
Royal Bank of Scotland PIC hold first legal charges over the folowing properties:
(30 May 2001 > Brent Skih Centre at 241 Slag Lane, London NW9 OEF and Its associated assets..
(29 April 2014) 130 Stag Lane, Londm HA8 SLL and its associated assets:
(3 October 2018) 296 Slag Lane. London NVffJ OEG and its associated assets.
The loan bears interest at 2.59A p.a. over Base Rate, it is being repaid by monthty instslments the temi of 20
years from October 2018. and additional repayments can be made at any time.
15 Creditors: amounts falllng due withln one year
2023
2022
Notes
Bank loans
Other taxation and social security
Other creditors
Accruals and deferred income
14
65,000
363
20,139
330
15.682
8,045
81.229
34.174
16 Creditorn: amounts falling due after more th¥n one year
2023
2022
Bank loans
14
357,577
492,746
17 Retlremenl bèn•fit schemes
2023
2022
Defined Contrlbutlon schemes
Charge to profft or loss in resped of defined corrtrlKrtion %*emes
897
The charity operates a defined ￿ntribUtIon pension scheme for all qualifying employee5. The assets of the
scheme are held separately from IIK)se of the tharity in an independently administered fund.
16-

BRENT SIKH CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
18 Restrl¢ted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subject to speafic cormlitions by donors as lo how they may be used.
At 1 January
2023
At31
December
2023
1.446,730
1.446,730
Prevlous year:
At 1 January
2022
At31
December
2022
1.448,730
1,446,730
19 Unrnstrlctsd funds
The unrestricted funds of the charity comprise the unexpended balances ol donations and grants whith are
not subject to specific conditions by donors and grantors as to how they may be used. These indude
designated funds which have been set aside out of unrestricted l￿dS by the trustees for specthc putposes.
At31
December
2023
At 1 January
2023
Incoming Resources
exponded
General funds
2.819,230
418.018
(281.614)
2,955,634
Prnvlous year:
At 1 January
2022
Incomlng Resources
resources
txpendod
At31
December
2022
General funds
2.753.396
254,498
{188,664)
2,819.230
17-

BRENT SIKH CENTRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
20 Anatysis of net assets between fund8
Unrestrictod Restricted
funds
funds
2023
2023
Total
2023
At 31 December 2023:
Tangible assets
Investment woperties
Current assetsl(liabilities)
Long tèrm liabilities
2,134,657
1.167,738
10.816
(357.57n
1,446.730
3,581,387
1,167,738
10.816
1357.577)
2.955.634
1,446.730
4,402,364
Unrestricted Restricted
funds
funds
2022
2022
Total
2022
At 31 December 2022:
Tangible assels
Investment propeities
CUr￿nt assetsloiabilities)
Long term liabilities
2.125.292
1,167,738
18.946
{492.746)
1,446,730
3,572,022
1,167,738
18,946
(492.746)
2,819.230
1,446,730
4,265,960
21 Related party transactions
There were no disclosable related party transadions during the year (2022 - none).
22 Detail$ af restriction
Induded in the restricted funds is the revaluation surplus of £1.446.730 (2022 - £1.446.730) on the laThJ and
buildings.
18-