NANAKSAR SATSANG SABHA (LONDON) FINANCIAL STATEMENTS 31 MARCH 2025 Charity Number: 1072303
CONTENTS Trustees Annual Report Independent Examiner's Report to the Trustees Statement of Financial Activities Balance Sheet Notes to the Financial Statements Page(s) 1 5 6 7 8 - 11
NANAKSAR SATSANG SABHA (LONDON) YEAR ENDED 31 MARCH 2025 Bankers BARCLAYS Bank Plc Leicester LE87 2BB Metro Bank One Southampton Row London WC1B 5HA Solicitors Shergill & Co 22 Bath Road, Hounslow, Middlesex, TW3 ЗЕВ
NANAKSAR SATSANG SABHA (LONDON) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2025 The Trustees have pleasure in presenting their Report and the unaudited Financial Statements of the charity for the year ended 31 March 2025. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity name Nanaksar Satsang Sabha (London) Charity Registration number 1072303 THE TRUSTEES CONSTITUTION AND ADMINISTRATION Nanaksar Satsang Sabha is a registered charity under Charity Registration No.1072303. The Trustees and the Management Committee of the charity, during the year, were as follows: Narinder Singh Bhachu (Chair) Kulwant Singh Panesar (Trustee) Surinder Singh Matharu (Trustee) Sukhvinder Singh Bamrah (Trustee) Satchand Singh Kalsi (Trustee) Gurdev Singh Kalsi (Trustee) Jaspreet Singh Matharu (Trustee) Surinder Singh Bhachu (Trustee) Manmohan Singh Lotay (Trustee) Jaswant Singh Khull (Trustee) -1-
NANAKSAR SATSANG SABHA (LONDON) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is governed by its constitution adopted on 26th October 1998 and registered with the Charity Commission. Appointment of trustees All the officers and trustees are in place in accordance with the constitutional requirements. Trustee's induction and training All the new trustees are familiarised with the practical work of the charity. New trustees are encouraged to attain the necessary skills required to achieve the objectives of the charity. New trustees are invited and encouraged to familiarise with the charity and the context within which it operates. Governance of Internal Control and Risk Management The Management Committee is aware of the type of risks the charity faces, prioritising them in the terms of potential impact and likelihood of these occurrences and identifying means of mitigating the risks. As part of this process, the managing committee conform to the guidelines issued by the Charity Commission as appropriate to an organisation of the size and nature of the charity. ACHIEVEMENTS AND PERFORMANCE The charity's main income source of voluntary donations is increasing over the years. There is a corresponding increase in membership and donations. Volunteers The trustees record their appreciation to the volunteers, without whose help the results would not have been achieved. -2-
NANAKSAR SATSANG SABHA (LONDON) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2025 Financial Review The Trustees are pleased to report that the net increase in the funds for the year was £156,339 taking the accumulated funds to £3,406,638. Reserves Policy It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity at a level which at least cover the management, administration and support costs for the year. The charity has four fixed interest earning deposit accounts with Bank of Baroda. PLANS FOR FUTURE PERIODS There are no immediate plans except to increase the participation and donations to maintain the religious activities for their benefit. RESPONSIBILITIES OF THE TRUSTEES The charity's trustees are responsible for preparing the Trustees Annual Report and the Financial Statements in accordance with applicable laws and regulations. The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity 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. -3-
NANAKSAR SATSANG SABHA (LONDON) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2025 State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. Prepare the financial statements on going concern basis unless it is inappropriate to presume that the charity will continue in operation. Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the Financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011.They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. INDEPENDENT EXAMINER Khushvinder Singh Saggu ACA FMAAT has been appointed as the independent examiner for the ensuing year. Signed on behalf of the trustees: President Date: 30 November 2025 -4-
NANAKSAR SATSANG SABHA (LONDON) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NANAKSAR SATSANG SABHA (LONDON) YEAR ENDED 31 MARCH 2025 I report on the accounts of the charity for the year ended 31 March 2025 set out on pages 6 to 11. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to: • Examine the accounts under section 145 of the Charities Act; • To follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act); and • To state whether particular matters have come to my attention. BASIS OF INDEPENDENT EXAMINER'S STATEMENT My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with these records. It also includes consideration of any unusual items or disclosures in the accounts and seeking 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 consequently no opinion is given as to whether the accounts present a 'turn and fair' view and the report is limited to those matters set out in the statement below. INDEPENDENT EXAMINER'S STATEMENT In connection with my examination, no matter has come to my attention: 1) which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that: • proper accounting records are kept in accordance with section 130 of the Charities Act; and • to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or 2) to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. /hsh Khushvinder Singh Saggu FCA FMAAT Independent Examiner 7 Sutton Hall Road, Heston, Middlesex, TW5 OPX Date: 20th December 2025 5-
NANAKSAR SATSANG SABHA (LONDON) STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2025 Note Unrestricted Funds INCOMING RESOURCES Incoming resources from Generating funds: Membership Voluntary donations Investment income Other TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of generating funds: Establishment costs for Charitable activities Cost of generating voluntary income TOTAL RESOURCES EXPENDED NET INCOMING RESOURCES FOR THE YEAR RECONCILIATION OF FUND Total funds brought forward 2 3 4 TOTAL FUNDS CARRIED FORWARD 51,652 168,855 44,220 76,339 341,066 (169,134) (15,593) (184,727) 156,339 3,250,299 3,406,638 ========= Total Funds 2025 51,652 168,855 44,220 76,339 341,066 (169,134) (15,593) (184,727) 156,339 3,250,299 3,406,638 ========= Total Funds 2024 46,539 192,147 7,833 246,519 (126,958) (21,253) (148,211) 98,308 3,151,991 3,250,299 ======== The Statement of Financial Activities includes all gains and losses in the year and therefore a Statement of Total Recognised Gains and Losses have not been prepared. All the above amounts relate to continuing activities. -6-
..... NANAKSAR SATSANG SABHA (LONDON) BALANCE SHEET YEAR ENDED 31 MARCH 2025 Note 2025 € 2024 FIXED ASSETS Tangible assets CURRENT ASSETS Cash at bank Debtors CURRENT LIABILITIES Creditors: Amounts due in less than one year NET ASSETS 1,311,152 1,280,506 8 2,070,293 29,000 1,902,793 67,000 9 (3,807) 3,406,638 ========= (- 3,250,299 ========- FUNDS Unrestricted income funds TOTAL FUNDS 10 3,406,638
3,406,638
3,250,299 3,250,299 ========= These financial statements were approved by the members of the committee on November 2025 and signed on their behalf by: 30th President -7-
NANAKSAR SATSANG SABHA (LONDON) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 1. ACCOUNTING POLICIES Basis of Accounting The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, the Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities" published in March 2005 and the Charities Act 2011. Incoming Resources Membership fee is accounted for when due and received 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 accrual basis inclusive of VAT. Expenditure which is directly attributable to specific activities has been included in those cost categories. Stocks Stocks are valued at the lower of cost and net realisable values after making allowances for obsolete and slow-moving items. Depreciation Depreciation has been provided at the following rates to write off the assets over their estimated useful lives: Motor Vehicle 33% straight line method No depreciation has been provided for the Land and Buildings, as in the opinion of the trustees, it is maintained at a high standard with continuous repairs and maintenance. -8-
NANAKSAR SATSANG SABHA (LONDON) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 2. INCOMING RESOURCES FROM ACTIVITIES FOR GENERATING FUNDS Unrestricted Funds Total Funds 2025 Collection Box (Golakh) Donations/Path Bheta 135,084 33,771 135,084 33,771 168,855 ======= 168,855 ======= 3. ESTABLISHMENT COSTS FOR CHARITABLE ACTIVITIES Unrestricted Funds Total Funds 2025 Utilities Building Insurance Building Maintenance Others 129,990 2,200 12,772 24,172 129,990 2,200 12,772 24,172 169,134 ======= 169,134 ======= 4. COST OF GENERATING VOLUNTARY INCOME Pathi Aid-Prayers Travel - Staff Costs Donations Unrestricted Total Funds Funds 2025 f 12,856 2,737 -
15,593
12,856 2,737 -
15,593
Total Funds 2024 158,035 34,112 192,147 ======- Total Funds 2024 110,133 2,144 7,743 6,938 126,958 ====== Total Funds 2024 12,332 3,921 5,000
21,253
-9-
NANAKSAR SATSANG SABHA (LONDON) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 5. STAFF COSTS AND EMOLUMENTS There were no paid employees during the year. No trustee related or connected by business has received any remuneration from the charity during the year. The total expenses relating to trustees amounted to Nil. (2024: Nil) 6. TAXATION The charity is exempt from Income Tax. 7. FIXED ASSETS Land and Buildings Motor Vehicles Total Cost At 1 April 2024 Improvements/Additions Disposals At 31 March 2025 1,280,506 - 1,280,506 ======== Depreciation At 1 April 2024 Charge for the year Disposals At 31 March 2025 16,495 35,589 (16,495) 35,589 === 16,495 4,943 (16,495) 4,943 Net Book Value At 31 March 2025 At 31 March 2024 ======= 1,280,506 ======== 1,280,506 ========= -10- 30,646 1,297,001 35,589 (16,495) 1,316,095 ===== ==== 16,495 4,943 (16,495) 4,943 === 1,311,152 ========= 1,280,506 =====
NANAKSAR SATSANG SABHA (LONDON) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 8. DEBTORS Other Receivables 2025 29,000 29,000 ====== 2024 67,000 67,000 ====== 9. CREDITORS Other Creditors 2025 3,807
3,807
2024
- MOVEMENT OF FUNDS At 1 April 2024 Income Resources Resources Expenditure At 31 March 2025 2025 3,250,299 341,066 (184,727) 3,406,638 ========= 2024 3,151,991 246,519 (148,211) 3,250,299 ========= -11-