REGISTERED CHARITY NUMBER: 1071912
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
FOR
SACHKHAND NANAK DHAM (DARSHAN DARBAR) UK
Macalvins Limited Chartered Accountants 7 St John's Road Harrow Middlesex HA1 2EY
SACHKHAND NANAK DHAM (DARSHAN DARBAR) UK
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Cash Flow Statement | 6 | ||
| Notes to the Cash Flow Statement | 7 | ||
| Notes to the Financial Statements | 8 | to | 16 |
SACHKHAND NANAK DHAM (DARSHAN DARBAR) UK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 30 September 2024. The trustees have adopted the provisions of 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 objects and aims of the charity are to deliver the teachings of the founder, His Holiness Hazur Mahraz Darshan Das Ji, and through the teachings and leadership of the head and patron of Sachkhand Nanak Dham, His Holiness Hazur Mahraz Tirlochan Darshan Das Ji, through spiritual discourses and events at the Sachkhand Nanak Dham (Darshan Darbar), 25 North Park Richings Park Iver SL0 9DH.
The charitable objects are set out in the declaration of trust dated 5 October 1998:
1) TO ADVANCE RELIGION AND EDUCATION IN ACCORDANCE WITH (A) THE TEACHINGS OF SIRI GURU GRANTH SAHIB JEE AS EXPOUNDED BY HAZUR MAHRAZ DARSHAN DAS JEE AND IN DOING SO TO BRING MAN TO A GREATER REALISATION OF GOD AND (B) THE TEACHINGS, PHILOSOPHY AND IDEOLOGY OF THE FOUNDER OF SACHKHAND NANAK DHAM, HAZUR MAHRAZ DARSHAN DAS AND (C) THE PRINCIPLES OF DAS DHARAM WHICH WAS FOUNDED BY HAZUR MAHRAZ DARSHAN DAS.
2) TO RELIEVE IN CASES OF NEED THE AGED, DISABLED, ORPHANS AND OTHER CHILDREN WHO ARE IN CONDITIONS OF FINANCIAL HARDSHIP, SICKNESS OR DISTRESS.
Significant activities
The charity continues to benefit the public with services it offers in its temples. It is open to all faiths and free food is available and a safe place for individuals to worship freely regardless of religion, cast or gender. The charity gives daily sessions of hymn singing and spiritual discourses by the head of the organisation when His Holiness travels to the UK.
The charity has two temples which are located in Richings Park, Iver, Buckinghamshire and Dudley, West Midlands.
Public benefit
The charity meets the definition of a public benefit entity as set out in the Charities Act 2011 and in guidance issued by the Charities Commission.
In accordance with The Charities (Accounts and Reports) Regulations 2008 the trustees confirm that they have hadregard to the Charity Commission’s public benefit guidance when exercising any powers or duties to which the guidance is relevant.
The trustees confirm that:
-
they are aware of the Charity Commission guidance;
-
they have taken the Charity Commission guidance into account when making a decision to which the guidance is relevant; and
-
if they have decided to depart from the guidance, they have good reasons for doing so.
FINANCIAL REVIEW
Financial review
Financial results:
The charity's incoming resources for the year to 30 September 2024 were recorded at £304,908 (2023: £375,149).
Expenditure for the year to 30 September 2024 was recorded at £373,225 (2023: £365,581).
The charity's net expenditure for the year to 30 September 2024 before gains on revaluation was £275,193 (2023: net income of £9,568).
There were no revaluation gains or losses for the year to 30 September 2024 (2023: no revaluation gains or losses).
Financial position:
As at 30 September 2024, the net assets were £2,809,576 (2023: £3,084,768) and it had total cash and bank balances of £67,658 (2023: £63,687).
Page 1
SACHKHAND NANAK DHAM (DARSHAN DARBAR) UK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024
FINANCIAL REVIEW
Reserves policy
The charity's reserves policy is to maintain a cash reserve that equates to at least three months of expenditure. Over time the charity aims to build up cash reserves to a level that equates to at least six months of expenditure.
Going concern
The financial statements have been prepared on a going concern basis notwithstanding the fact that there are net current assets of £1,344 at 30 September 2024 (2023: £76,083).
The charity has one bank loan and the total outstanding on this loan at 30 September 2024 was £1,026,807 (2023: £2,385,510). This loan is repayable over terms of 20 years.
In July 2024 the charity sold a freehold property that was considered to be surplus to requirements. This property is included in the financial statements at a value of £1,656,876 and was sold for £1,450,000. The charity applied £1,321,158 of the sale proceeds to the reduction of its bank loans, and the balance was used to provide the charity with additional liquidity.
Following the disposal of the property and the reduction in the balance of bank loans the commitment for repayment of the bank loans (capital and interest) has been reduced from £225,000 per annum to £70,000 per annum.
In April 2025 the charity sold a investment property that was considered to be surplus to requirements. This property is included in the financial statements at a value of £555,500 and was sold for £525,000.
The trustees are confident that the charity has adequate funding to meet its ongoing commitments and accordingly the financial statements have been prepared on a going concern basis.
FUTURE PLANS
The charity is growing and has plans to open new centres and reach a wider audience in the UK. His Holiness is travelling regularly to the UK also and giving discourses and sermons.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Charity constitution
The charity is overseen and managed by its Board of Trustees. At present there are four trustees.
Recruitment and appointment of new trustees
The power to appoint new trustees is vested in the members and adherents of the charity. In considering the recruitment of a new trustee, the members and adherents would look to individuals who have had involvement with the charity, who have the necessary skillsets and who have the availability of time to better the charity's goals and objectives.
Decision making
The overall strategy of the charity and its day-to-day administration are vested in the Board of Trustees. They are assisted by a secretary and a treasurer.
Induction and training of new trustees
On appointment, new trustees will undergo an orientation to brief them on their legal obligations under charity law, the Charity Commission guidance on public benefit, and to inform them of the content of the Trust Deed, the decision-making processes, the aims of the charity and recent financial performance of the charity
Key management remuneration
The trustees are considered to be the key management of the charity along with the secretary and treasurer.
The trustees, secretary and treasurer are not remunerated for their services.
The charity does not have any employees.
Page 2
SACHKHAND NANAK DHAM (DARSHAN DARBAR) UK
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Related party transactions
During the year to 30 September 2024 the charity paid expenses of £1,525 to Mr T Das to support him whilst undertaking religious and spiritual duties in the UK (2023: £11,236).
Mr T Das is a trustee of the charity.
During the year to 30 September 2024 the charity received donations of £12,000 from SND Electrical Wholesalers (UK) Limited (2023: £12,000).
Mr J S Bhambra is a trustee of the charity and is a director and shareholder in SND Electrical Wholesalers (UK) Limited.
During the year to 30 September 2024 the charity received donations of £7,210 from its trustees and key management personnel (2023: £31,365).
Risk management
The trustees have a 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.
The trustees have undertaken a risk assessment and continue to keep this under review. This process considers the risks to which the charity is exposed and agrees policies and actions to minimise any potential exposure to those risks.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1071912
Principal address
25 North Park Richings Park Iver SL0 9DH
Trustees
B Singh B S Bahl J S Bhambra T Das
EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.
Approved by order of the board of trustees on 26 September 2025 and signed on its behalf by:
J S Bhambra - Trustee
Page 3
SACHKHAND NANAK DHAM (DARSHAN DARBAR) UK
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Other income 4 Total EXPENDITURE ON Raising funds 5 NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
30.9.24 Unrestricted fund £ 236,914 16,576 51,419 304,909 580,101 (275,192) 3,084,768 2,809,576 |
30.9.23 Total funds £ 340,497 22,836 11,816 |
|---|---|---|
| 375,149 | ||
| 365,581 | ||
| 9,568 3,075,200 |
||
| 3,084,768 |
The notes form part of these financial statements
Page 4
SACHKHAND NANAK DHAM (DARSHAN DARBAR) UK
BALANCE SHEET 30 SEPTEMBER 2024
| Notes FIXED ASSETS Tangible assets 9 Investment property 10 CURRENT ASSETS Debtors 11 Cash at bank and in hand CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 13 NET ASSETS FUNDS 16 Unrestricted funds: General fund TOTAL FUNDS |
30.9.24 Unrestricted fund £ 3,959,168 555,500 4,514,668 1,345 67,658 69,003 (67,659) 1,344 4,516,012 (1,706,436 ) 2,809,576 2,809,576 2,809,576 |
30.9.23 Total funds £ 5,606,067 555,500 |
|---|---|---|
| 6,161,567 13,829 63,687 |
||
| 77,516 (153,599) |
||
| (76,083) | ||
| 6,085,484 (3,000,716 ) |
||
| 3,084,768 | ||
| 3,084,768 | ||
| 3,084,768 |
The financial statements were approved by the Board of Trustees and authorised for issue on 26 September 2025 and were signed on its behalf by:
J S Bhambra - Trustee
The notes form part of these financial statements
Page 5
SACHKHAND NANAK DHAM (DARSHAN DARBAR) UK
CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2024
| 30.9.24 | 30.9.23 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Cash flows from operating activities | |||
| Cash generated from operations | 1 | 119,209 | 259,435 |
| Interest paid | (180,608) | (163,868) | |
| Net cash (used in)/provided by operating activities | (61,399) | 95,567 | |
| Cash flows from investing activities | |||
| Purchase of tangible fixed assets | (20,000) | (95,056) | |
| Sale of tangible fixed assets | 1,450,000 | - | |
| Interest received | 73 | 36 | |
| Net cash provided by/(used in) investing activities | 1,430,073 | (95,020) | |
| Cash flows from financing activities | |||
| New loans in year | - | 315,000 | |
| Loan repayments in year | (1,364,703 ) | (354,344) | |
| Net cash used in financing activities | (1,364,703 ) | (39,344) | |
| Change in cash and cash equivalents in the | |||
| reporting period | 3,971 | (38,797) | |
| Cash and cash equivalents at the beginning of | |||
| the reporting period | 63,687 | 102,484 | |
| Cash and cash equivalents at the end of the | |||
| reporting period | 67,658 | 63,687 |
The notes form part of these financial statements
Page 6
SACHKHAND NANAK DHAM (DARSHAN DARBAR) UK
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2024
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2.
| 30.9.24 | 30.9.23 | |||
|---|---|---|---|---|
| £ | £ | |||
| Net (expenditure)/income for the reporting period (as per the | Statement of | |||
| Financial Activities) | (275,192) | 9,568 | ||
| Adjustments for: | ||||
| Depreciation charges | 10,022 | 7,909 | ||
| Loss on disposal of fixed assets | 206,876 | - | ||
| Interest received | (73) | (36) | ||
| Interest paid | 180,608 | 163,868 | ||
| Decrease in debtors | 12,484 | 72,272 | ||
| (Decrease)/increase in creditors | (15,516) | 5,854 | ||
| Net cash provided by operations | 119,209 | 259,435 | ||
| ANALYSIS OF CHANGES IN NET DEBT | ||||
| At 1.10.23 | Cash flow | At 30.9.24 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank and in hand | 63,687 | 3,971 | 67,658 | |
| 63,687 | 3,971 | 67,658 | ||
| Debt | ||||
| Debts falling due within 1 year | (121,764) | 70,424 | (51,340) | |
| Debts falling due after 1 year | (3,000,716 ) | 1,294,280 | (1,706,436 ) | |
| (3,122,480 ) | 1,364,704 | (1,757,776 ) | ||
| Total | (3,058,793 ) | 1,368,675 | (1,690,118 ) |
The notes form part of these financial statements
Page 7
SACHKHAND NANAK DHAM (DARSHAN DARBAR) UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Plant and machinery | - | 20% on cost |
|---|---|---|
| Fixtures and fittings | - | 20% on cost |
| Motor vehicles | - | 20% reducing balance |
| Computer equipment | - | 20% on cost |
Freehold and leasehold land and buildings are recorded initially at cost and are periodically revalued on the basis of independent valuation reports. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Going concern
Where current liabilities exceed current assets the trustees consider the ability of the charity to meet its liabilities from liquid assets as and when the liabilities fall due for payment. The trustees also consider the support given to the charity by its members and creditors.
If the trustees are of the opinion that the charity can meet its liabilities as and when they fall due for payment, and has sufficient support from its members and creditors, the financial statements are prepared on a going concern basis.
continued...
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SACHKHAND NANAK DHAM (DARSHAN DARBAR) UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024
| 2. DONATIONS AND LEGACIES Donations 3. INVESTMENT INCOME Rents received Deposit account interest 4. OTHER INCOME Other Income - Gift Aid Claim 5. RAISING FUNDS Raising donations and legacies Insurance Light and heat Telephone Postage, packing and carriage Event Costs Food and other supplies Rates and water charges Sundries Motor and travelling costs Repairs and maintenance Advertising and promotion Computer consumables Hire of equipment Support for spiritual teachers Depreciation Support costs |
30.9.24 £ 236,914 30.9.24 £ 16,503 73 16,576 30.9.24 £ 51,419 30.9.24 £ 5,106 48,258 3,647 205 12,456 33,991 9,522 3,492 33,016 17,108 - 619 1,525 1,155 10,022 193,103 373,225 |
30.9.23 £ 340,497 |
|---|---|---|
| 30.9.23 £ 22,800 36 22,836 30.9.23 £ 11,816 30.9.23 £ 7,323 44,117 3,167 218 28,866 18,121 13,234 2,174 38,387 7,089 3,048 10 1,330 11,236 7,909 179,352 |
||
| 365,581 |
continued...
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SACHKHAND NANAK DHAM (DARSHAN DARBAR) UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024
5. RAISING FUNDS - continued
Other trading activities
6.
| Other trading activities | |||
|---|---|---|---|
| 30.9.24 | 30.9.23 | ||
| £ | £ | ||
| Loss on sale of assets | 206,876 | - | |
| Aggregate amounts | 580,101 | 365,581 | |
| SUPPORT COSTS | |||
| Governance | |||
| Finance | costs | Totals | |
| £ | £ | £ | |
| Raising donations and legacies | 180,608 | 12,495 | 193,103 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.
Trustees' expenses
During the year to 30 September 2024 the charity paid expenses of £1,155 to Mr T Das to support him whilst undertaking religious and spiritual duties in the UK (2023: £11,236).
Mr T Das is a trustee of the charity.
Mr J S Bhambra is a trustee of the charity and is a director and shareholder in SND Electrical Wholesalers (UK) Limited.
No other payments or reimbursement of expenses were made to trustees during the year ended 30 September 2024. No other payments or reimbursement of expenses were made to trustees during the year ended 30 September 2023.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 340,497 |
| Investment income | 22,836 |
| Other income | 11,816 |
| Total | 375,149 |
| EXPENDITURE ON | |
| Raising funds | 365,581 |
| NET INCOME | 9,568 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 3,075,200 |
continued...
Page 10
SACHKHAND NANAK DHAM (DARSHAN DARBAR) UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted | |||
|---|---|---|---|
| fund | |||
| £ | |||
| TOTAL FUNDS CARRIED FORWARD | 3,084,768 | ||
| TANGIBLE FIXED ASSETS | |||
| Fixtures | |||
| Freehold | Plant and | and | |
| property | machinery | fittings | |
| £ | £ | £ | |
| COST OR VALUATION | |||
| At 1 October 2023 | 5,563,401 | 20,639 | 21,939 |
| Additions | 20,000 | - | - |
| Disposals | (1,656,876 ) | - | - |
| At 30 September 2024 | 3,926,525 | 20,639 | 21,939 |
| DEPRECIATION | |||
| At 1 October 2023 | - | 3,968 | 21,939 |
| Charge for year | - | 4,128 | - |
| At 30 September 2024 | - | 8,096 | 21,939 |
| NET BOOK VALUE | |||
| At 30 September 2024 | 3,926,525 | 12,543 | - |
| At 30 September 2023 | 5,563,401 | 16,671 | - |
| Motor | Computer | ||
| vehicles | equipment | Totals | |
| £ | £ | £ | |
| COST OR VALUATION | |||
| At 1 October 2023 | 23,400 | 9,720 | 5,639,099 |
| Additions | - | - | 20,000 |
| Disposals | - | - | (1,656,876 ) |
| At 30 September 2024 | 23,400 | 9,720 | 4,002,223 |
| DEPRECIATION | |||
| At 1 October 2023 | 3,510 | 3,615 | 33,032 |
| Charge for year | 3,978 | 1,917 | 10,023 |
| At 30 September 2024 | 7,488 | 5,532 | 43,055 |
| NET BOOK VALUE | |||
| At 30 September 2024 | 15,912 | 4,188 | 3,959,168 |
| At 30 September 2023 | 19,890 | 6,105 | 5,606,067 |
9. TANGIBLE FIXED ASSETS
continued...
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SACHKHAND NANAK DHAM (DARSHAN DARBAR) UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024
9. TANGIBLE FIXED ASSETS - continued
Cost or valuation at 30 September 2024 is represented by:
| Freehold property £ Valuation in 2021 990,000 Cost 2,936,525 3,926,525 Motor vehicles £ Valuation in 2021 - Cost 23,400 23,400 If freehold property had not been revalued it would have been included at the following historical Cost |
Plant and machinery £ - 20,639 20,639 Computer equipment £ - 9,720 9,720 cost: 30.9.24 £ 4,573,401 |
Fixtures and fittings £ - 21,939 |
|---|---|---|
| 21,939 | ||
| Totals £ 990,000 3,012,223 |
||
| 4,002,223 | ||
| 30.9.23 £ 4,573,401 |
Freehold and leasehold land and buildings are recorded initially at cost and are periodically revalued on the basis of independent valuation reports. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Freehold land and buildings include a property which was considered to be surplus to requirements. This property was sold in July 2024. This property is included in the financial statements at a value of £1,656,876 and was sold for £1,450,000.
10. INVESTMENT PROPERTY
| INVESTMENT PROPERTY | |
|---|---|
| FAIR VALUE At 1 October 2023 and 30 September 2024 NET BOOK VALUE At 30 September 2024 At 30 September 2023 |
£ 555,500 |
| 555,500 | |
| 555,500 |
The trustees have valued the investment property at 30 September 2024 and at 30 September 2023 using rental yield calculations and information on property price inflation available from the Office for National Statistics.
Investment property include a property which was considered to be surplus to requirements. This property was sold in April 2025. This property is included in the financial statements at a value of £555,500 and was sold for £525,000.
continued...
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SACHKHAND NANAK DHAM (DARSHAN DARBAR) UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024
10. INVESTMENT PROPERTY - continued
Fair value at 30 September 2024 is represented by:
| Valuation in 2022 Valuation in 2021 Cost 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Prepayments and accrued income 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 14) Trade creditors Other creditors 13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 14) Other creditors 14. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years Other loans - 2-5 years |
|
|---|---|
continued...
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SACHKHAND NANAK DHAM (DARSHAN DARBAR) UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024
14. LOANS - continued
15.
| LOANS - continued | ||
|---|---|---|
| 30.9.24 | 30.9.23 | |
| £ | £ | |
| Amounts falling due in more than five years: | ||
| Repayable by instalments: | ||
| Bank loans more 5 yr by instal | 770,105 | 1,776,691 |
| SECURED DEBTS | ||
| The following secured debts are included within creditors: | ||
| 30.9.24 | 30.9.23 | |
| £ | £ | |
| Bank loans | 1,026,806 | 2,385,510 |
The bank loan recorded in the financial statements of £1,026,806 is secured by way of legal charges over three properties owned by the charity.
These properties are recorded in the financial statements at a combined cost or value of £3,718,013.
One of these properties was sold in April 2025 for £525,000. This property is included in these financial statements at a value of £555,500.
16. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
At 1.10.23 £ 3,084,768 3,084,768 Incoming resources £ 304,909 304,909 |
Net movement in funds £ (275,192) (275,192) Resources expended £ (580,101) (580,101) |
At 30.9.24 £ 2,809,576 2,809,576 Movement in funds £ (275,192) (275,192) |
|---|---|---|---|
continued...
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SACHKHAND NANAK DHAM (DARSHAN DARBAR) UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024
16. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.10.22 £ Unrestricted funds General fund 3,075,200 TOTAL FUNDS 3,075,200 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 375,149 TOTAL FUNDS 375,149 A current year 12 months and prior year 12 months combined position is as follows: At 1.10.22 £ Unrestricted funds General fund 3,075,200 TOTAL FUNDS 3,075,200 |
Net movement in funds £ 9,568 9,568 Resources expended £ (365,581) (365,581) Net movement in funds £ (265,624) (265,624) |
At 30.9.23 £ 3,084,768 |
|---|---|---|
| 3,084,768 | ||
| Movement in funds £ 9,568 9,568 At 30.9.24 £ 2,809,576 |
||
| 2,809,576 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 680,058 (945,682) (265,624) 680,058 (945,682) (265,624) |
Incoming Resources Movement resources expended in funds £ £ £ 680,058 (945,682) (265,624) 680,058 (945,682) (265,624) |
|---|---|---|
| (265,624) |
Page 15
continued...
SACHKHAND NANAK DHAM (DARSHAN DARBAR) UK
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024
17. RELATED PARTY DISCLOSURES
During the year to 30 September 2024 the charity paid expenses of £1,155 to Mr T Das to support him whilst undertaking religious and spiritual duties in the UK (2023: £11,236).
Mr T Das is a trustee of the charity.
During the year to 30 September 2024 the charity received donations of £12,000 from SND Electrical Wholesalers (UK) Limited (2023: £12,000).
Mr J S Bhambra is a trustee of the charity and is a director and shareholder in SND Electrical Wholesalers (UK) Limited.
During the year to 30 September 2024 the charity received donations of £7,210 from its trustees and key management personnel (2023: £31,365).
18. POST BALANCE SHEET EVENTS
In April 2025 the charity sold a investment property that was considered to be surplus to requirements. This property is included in the financial statements at a value of £555,500 and was sold for £525,000.
19. GOING CONCERN
The financial statements have been prepared on a going concern basis notwithstanding the fact that there are net current assets of £1,344 at 30 September 2024 (2023: £76,083 net current liabilities).
The charity has one bank loan and the total outstanding on this loans at 30 September 2024 was £1,026,806 (2023: £2,385,510). This loan is repayable over terms of 20 years.
In April 2025 the charity sold a investment property that was considered to be surplus to requirements. This property is included in the financial statements at a value of £555,500 and was sold for £525,000.
The trustees are confident that the charity has adequate funding to meet its ongoing commitments and accordingly the financial statements have been prepared on a going concern basis.
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