NANAKSAR SATSANG SABHA (LONDON) FINANCIAL STATEMENTS 31 MARCH 2022 Charity Number: 1072303
CONTENTS Page(s) Trustees Annual Report Independent Examinerfs Report to the Trustees Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8-11
NANAKSAR SATSANG SABHA (LONDON) YEAR ENDED 31 MARCH 2022 Bankers BARCLAYS Bank PIC Leicester LE87 2BB Bank of Baroda 86 The Broadway, Southall, Middlesex, UBI IQD Sollcltors Sherglll & Co 22 Bath Road. Hounslow, Mlddle5ex, TW3 3EB
NANAKSAR SATSANG SABHA (LONDON) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2022 The Trustees have pleasure in presenting their Report and the unaudited Financial Statements of the charity for the year ended 31 March 2022. REFERENCE AND ADMINISTRATIVE DEfAILS Re8lStered Charity name Nanaksar Satsan8Sabha {Londonl Charity Registration number 1072303 THE TRUSTEES CONsfiTUTION AND ADMINISTRATION Nanaksar Satsan8 Sabha is a registered charity under Charity Re8iStration No.1072303. The Trustees and the Management Committee of the charlty, durln8 the year, were as follows.. Narinder Singh Bhachu (President) Avtar Slngh Mukar (Wice President) Satchand Singh Kalsi Isecretary) Sukhvlnder Slngh Bamrah {Asslstant Secretary) Gurdev Slngh Kalsl (Treasurer) Jaspreet Sln8h Matharu IAsslstant Treasurer) Kulwant Sln8h Panesar rrrustee) Manmohan Sln8h Lotay (Trustee} Jaswant Slngh Khull (Trustee)
NANAKSAR SATSANG SABHA (LONDON) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2022 STRucfuRE, GOVERNANCE AND MANAGEMENT Governlng document The charity 15 governed by Its constltutlon adopted on 2Q October 1998 and reglstered with the Charity Commission. Appolntment of trustees All the officers and trustees are In plate in accordance with the constbtutlonal requirements. Trustee's Inductlon and tralnlnq All the new trustees are familiarlsed with the practical work of the charlty. New trustees are encouraged to attain the necessary skllls requlred to achieve the objectlves of the charity. New trustees are Invlted and encouraged to familiarise with the charlty and the context wlthin which rt operates. Governante of Internal Control and Rlsk Man•Bement The Mana8ement Committee is aware of the type of rlsks the charlty faces. prforftislng them in the terms of potentlal Impact and likelihood of these occurrences and identifying means of mltigating the rlsks. As part of this process, the managing committee conform to the 8uldellnes155ued by the Charlty Commlsslon as approprlate to an or8anlsatlon of the slze and nature of the charlty. ACHIEVEMENTS AND PERFORMANCE The charitvs main income source of voluntary donatlons Is increasin8 over the years. There is a correspondlng Increase In membershlp and donations. Volunteers The trustees record their appreciation to the volunteers. without whose help the results would not have been achieved.
NANAKSAR SATSANG SABHA (LONDON) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2022 Flnanclal Revlew The Trustees are pleased to report that the net increase in the funds for the year was £248,797 taking the accumulated funds to £2.998.997. Reserves Pollcy It Is the pollcy of the charlty to malntaln unrestricted funds, which are the free reseThes of the charity at a level which at least coverthe management. administration and support costs for the year. The charity has four fixed Interest earnin8 deposit accounts with Bank of Baroda. PLANS FOR FUTURE PERIODS There are no Immedlate future plans except to increase the participation and donations to malntaln the rellglous actlvltles for thelr benefft. RESPONSIBILITIES OF THE TRusfEES The charlt(s trustees are responslble for preparlng the Trustees Annual Report and the Flnanclal Statement5 In accordance wlth appllcable laws and regulatlons. The law applicable to charitles In En8land and Wales requlres the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the flnanclal statements in accordance with United Kingdom Generally Accepted Accountlng Prattlce (Unlted Klngdom Accountln8 Standards and applicable lawl. The trustees must not approve the financial statements unless they are sat15fied that they give true and fair view of the state of affalrs of the charlty and the income and expenditure of the charity for that period. In preparing these statements the trustees are required to: Select suitable accounting policies and then apply them consistently; Observe the methods and principles in the Charities SORP: Make Judgments and accounting estimates that are reasonable and prudent-
NANAKSAR SATSANG SABHA (LONDON) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2022 State whether appllcable accountlng standards have been followed, subject to any materlal departures dlsclosed and explalned In the financlal statements," Prepare the flnanclal statements on 8oln8 concern basls unless It Is Inapproprlate to presume that the charity will contlnue in operatlon. Trustee5 are responslble for keeplng adequate accountlng records that are sufflclent to show and explain the charlws tran5aCtlons and dlsclose wlth reasonable accuracy at anv tlme the FSnanclal posltlon of the charlty and enable them to ensure that the financlal statÈments comply wlth the Charltles Act 2011.They are a150 responslble for safeguardlng the assets of the charlty and hence for taklng reasonable steps for the prevention and detectlon of fraud and other irre8ularltles. INDEPENDENT EXAMINER Khushvlnder Slngh Sa88u ACA FMAAT has been appolnted as the Independent examlner for the ensuln8 year. Signed on behalf of the trustees: Presldent Date: Zl" December 2022.
NANAKSAR SATSANG SABHA (LONDON) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NANAKSAR SATSANG SABHA (LONDON) YEAR ENDED 31 MARCH 2022 I report on the accounts of the charity for the year ended 31 March 2022 set out on pages 6 to 11. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER The charitvs trustees are responsible for the preparation of the accounts. The charity's trustees consSder that an audit is not requSred for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examlnatlon Is needed. It Is my responsibility to.. Examlne the accounts under section 145 of the Charltles Act", To follow the procedures lald down In the General Directions glven by the Charlty Commission (under sertion 14515llbl of the Charities Act): and To state whether particular matters have come to my attentlon. BASIS OF INDEPENDENT EXAMINEWS sfATEMENT My examination was carried out in accordance with the General Directlons given by the Charity Commission. An examination includes a review of the accountin8 records kept bv the charity and a comparlson of the accounts presented with these records. It also includes consideration of any unusual items or disclosures in the accounts. and seekin8 explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and ¢onsequently no oplnlon Is 8lven as to whether the accounts present a'turn and fairf view and the report Is Ilmlted to those matters set out In the statement below. INDEPENDENT EXAMINER'S STATEMENT In connectlon wlth my examination, no matter has come to my attentlon: 11 whlch gives me reasonable cause to believe that In, any material respect. the trustees have not met the requirements to ensure that: proper accountin8 records dre kept in accordance with section 130 of the Charities Act; and to prepare attounts which accord wlth the accountln8 records and comply with the accountin8 requirements of the Charities Act have not been met; or 2} to which in my oplnlon. attentlon should be drawn In order to enable a proper understandin8 of the accountsto be reached. Khushvlnder Slngh Saggu ACA FMAAT Independent Examiner 7 Sutton Hall Road, Heston, Middlese& TW5 OPX Date: 21 December 202Z.
NANAKSAR SATSANG SABHA (LONDON) STATEMENT OF FINANCIAL AcfiviTIES YEAR ENDED 31 MARCH 2022 Unrestrlcted Funds Total Funds 2022 Total Funds 2021 Note INCOMING RESOURCES Incoming resources from Generatingfunds- Membership Voluntary donatlons Investment income Other 55,078 286,068 3,577 55.078 286,068 3,577 49,864 29,237 32,177 53,756 TOTAL INCOMING RESOURCES 344.723 344,723 165,034 RESOURCES EXPENDED Costs of generatlng fvnds- Establishment costs for Charltable actlvitles Cost of 8eneratin8 voluntary income {80.5961 180,596) 167,641) {15.330 115,330) (17,51X)) TOTAL RESOURCES EXPENDED (95,926) 195,926) 185,1411 NET INCOMING RESOURCES FOR THE YEAR 248,797 248,797 79,893 RECONCILIATION OF FUNDS Total funds brought forward 2,750,200 2,750,200 2,670,307 TOTAL FUNDS CARRIED FORWARD 2,998,997 2,998,997 2,750,2(KJ The Statement of Flnancial Artivities includes all gains and10sses in the year and therefore Statement of Total Recognised Gains and Losses has not been prepared. All of the above amounts relate to contlnulng activfties.
NANAKSAR SATSANG SABHA (LONDON) BALANCE SHEET YEAR ENDED 31 MARCH 2022 2022 2021 Note FIXED ASSETS Tanglble assets 1,190,475 1,190.475 CURRENT ASSETS Cash at bank Debtors 1,766,522 42,000 1,491,425 68,300 CURRENT UABIUTIES Credltors.. Amounts duè in lèss than one year NET ASSETS 2.998,997 2,750,2 FUNDS Unrestricted income funds io 2,998,997 2,750,200 TOTAL FUNDS 2,998,997 2,750,200 These finanaal statements were approved by the members of the commlttee on 21 December 2022 and si8ned on their behalf by: Presldent
NANAKSAR SATSANG SABHA (LONDON) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 I. ACCOUNTING POLICIES Bas15 of A¢countln8 The financial statements have been prepared under the historlcal cost convention and in accordance with applicable United Kingdom accountin8 Standards, the Statement of Recommended Practice {SORP}, "Accounting and Reporting bv Charities" published In March 21X)5 and the Charitles Act 2011. Incomln8 Resources Membershlp fee Is accounted for when due and recelved on an annual basis. The value of any voluntary help received is not included In the accounts. Voluntary donations are included in the incoming resources when they are received. Resources Expended Charitable expenses are accounted for on an atcrual basis Incluslve of VAT. Expenditure which is directly attributable to specific activities has been included In those cost categorles. Stocks Stocks are valued at the lower of cost and net reallsable values after makin8 due allowances for obsolète and slow-moving Items. Oepredatlon Depreciation has been provided at the followin8 rates in order to write off the assets over their estimated useful lives: Motor Vehicle 33% stral8ht Ilne method No depreciation has been provlded for the Land and Bulldin8s as, in the oplnlon of the trustees, It is maintained at a hi8h standard with contlnuous repairs and maintenance.
NANAKSAR SATSANG SABHA (LONDON) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 2. INCOMING RESOURCES FROM ACTIVITIES FOR GENERATING FUNDS Unrestrirted Funds Total Funds 2022 Total Funds 2021 Collection Box IGolakh} DonationslPath Bheta 190.195 95.873 190.195 95.873 10,500 18,737 286,068 286,068 29,237 3. ESTABLISHMENT COSTS FOR CHARITABLE ACTIVITIES Unrestricted Funds Total Funds 2022 Total Funds 2021 Utllltles Building Insurance Bulldlng Malntenance Others 63.774 1,850 10.053 4,919 63,774 1,850 10,053 4,919 51,501 1,780 13.715 645 80,596 80,596 67,641 4. COST OF GENERATING VOLUNTARY INCOME Unrestricted Total Funds Funds 2022 Total Funds 2021 Pathi Aid-prayers Travel - Staff Donations 15,330 15.330 17,500 15,330 15.330 17,500
NANAKSAR SATSANG SABHA (LONDON) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 5. STAFF COSTS AND EMOLUMENTS There were no paid employees durlngthe year. No trustee related or connected by busine55 has received any remuneration from the charity during the year. The total expenses relatlng to trustees amounted to Nil.12021: Nil) 6. TAXATION The charlty Is exempt from Income Tax. 7. FIXED ASSETS Land and Buildin85 Motor Vehicle5 Total Cost As at l April 2021 Improvements/Addltlons D15posals 1,190,475 16,495 1,206,970 As at 31 March 2022 1,190,475 16,495 1,206,970 Depreclatlon A5 at l Aprll 2021 Char8e for the year Disposals 16.495 16,495 As at 31 March 2022 16,495 16,495 Net Book Value As at 31 March 2022 1,190,475 1.190.475 As at 31 March 2021 1,190,475 1,190,475 -io-
NANAKSAR SATSANG SABHA {LONDON) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 8. DEBTORS 2022 2021 OthÈr Loans 42.OCKI 68,31XI 42.000 68,31XI 9. CREDITORS 2022 2021 Other Creditors 10. MOVEMENT OF FUNDS 2022 2021 At l Aprll 2021 Income Resources Resources Expendlture 2,750,2(KI 344,723 195,926) 2,670,307 165.034 185,1411 At 31 March 2022 2.998.997 2.750.200 -li-