**The Sunderland Sikh Association Financial Statements**
**For the Year Ended 31st March 2023**
## **Contents**
**Legal and Administrative Details Executive Committee’s Report Independent Examiner’s Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements**
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**The Sunderland Sikh Association Legal and Professional Details For The Year Ended 31st March 2023**
**Charity Number 1085546**
**President: Surjeet Singh Sangha Vice President: Buta Singh Sangha General Secretary: Manjit Singh Cheema Deputy Secretary: Tarsem Singh Thandi Jaskaran Singh Dhami Treasurer: Mohinder S Atkar Deputy Treasurer: Bhajan Singh Aujla Jitinder Singh Kang Stage Secretary: Baljeet Singh Sandhu Deputy Stage Secretary: Manpreet Kaur Khaira**
**Address: The Cloisters (Off Ryhope Road) Sunderland Tyne & Wear SR2 7ED Bankers: HSBC Unit 49-51 The Bridges Shopping Centre Sunderland Tyne & Wear SR1 3LE**
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**The Sunderland Sikh Association**
**Executive Committee’s Report For The Year Ended 31st March 2023**
The executive committee has pleasure in submitting their annual report and financial statements for the year ended 31st March 2023.
## **Structure**
The charity is registered as The Sunderland Sikh Association under number 1085546. The principal activity of the charity is to advance the Sikh religion.
## **Objects**
The objects of the charity, which is governed by constitution, are to:
Advance the Sikh religion by: -
- Propagating the teachings of the ten Gurus and Sikh Guru Granth Sahib;
- Maintaining a library and reading rooms;
- Encouraging and promoting the study of Sikh religion amongst the public and social cultural dialogue.
Also to promote the benefit of the inhabitants, primarily the Sikh inhabitants, of Sunderland and Tyne & Wear without distinction of sex or sexual orientation, race or political, religious or other opinions by associating together with the said inhabitants, the local authorities and voluntary and other organisations in a common effort to: -
- Advance the education of the said inhabitants
- Provide facilities for the recreation of other leisure-time occupation for the said inhabitants in the interests of their social wel-
- fare with the object of improving their conditions of life.
Establish or secure the establishment of a community centre and to maintain and manage the same in furtherance of these objects.
- Promote such other charitable purposes as may from time to time be determined.
## **Review of activities and future developments**
The statement of Financial Activities for the year is set out on page 8 for the financial statements. A summary of the financial results and the work of the charity are set out below.
## **Financial results**
The charity had total incoming resources in the year of £153,733. The unrestricted incoming resources mainly comprise of voluntary donations and Government Grants received
After deduction of the resources expended, comprising of the running costs, the total funds carried forward were £850,294. This amount represents unrestricted funds of £850,294, and restricted funds of £0.
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**The Sunderland Sikh Association Executive Committee’s Report**
**For The Year Ended 31st March 2023**
## **Reserves**
The general fund generated a small surplus for the year. The Executive Committee has established a policy whereby any surplus unrestricted funds held by the charity should be designated for future projects.
## **Risk review**
The executive committee continually reviews areas of risk to its operation and procedures are implemented to reduce any risks so far as possible.
## **Executive committee and members**
Full membership of the charity, where each member should carry one vote, is open to any person over the age of 18 years interested in furthering the objects, who has paid the annual subscriptions laid down from time to time by the Executive Committee is either:
Of Sikh or Indian Origin; Married to a person as above; or A child of a person of the above.
Associate membership of the charity will be open to individuals of the community interested in furthering the objects without distinction of sex, sexual orientation, race, political or other opinions, and who have paid an annual subscriptions fee.
The executive committee consists of not less than 16 nor more than 20 members being:
- The honorary officers (a chairman, a secretary and a treasurer) who must be members of the charity; and
- Not less than 13 and not more than 17 members elected at the annual general meeting.
The executive committee can, in addition, appoint co-optative members with the provision that no one can be appointed as a coopted member if, as a result, more than one third of the members of the executive committee would be co-opted members.
The charity has a co-optative sub-committee, the members of which attend the executive committee meetings.
All members of the executive committee shall retire from office together at the end of the first annual general meeting following the
date on which they came into office, but they may be re-elected or re-appointed.
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**Sunderland Sikh Association Statement of Financial Activities for the Year Ended 31st March 2023**
## **Statement of executive committees’ responsibilities for financial statements**
The charities Act 1993 requires the executive committee to keep proper books of account in respect of the affairs of the charity, and to prepare financial statements of account for each accounting period consisting of a statement of financial activities and a balance sheet.
The executive committee is also responsible for safeguarding the charity’s assets, and hence for taking reasonable steps for the prevention and detection of error, fraud and other irregularities.
In preparing the financial statements the executive committee is expected to:
Select suitable accounting policies and apply them consistently, making judgements and estimates that are reasonable and prudent.
Follow the recommendations of the Charities Commission and of the accounting profession with regard to form and content of the financial statements or to disclose and explain any departures there from; and
Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will be able to continue to meet its objectives.
Signed on behalf of the Executive Committee
## **.................................. Surjeet Singh Sangha President**
## **…………………….. Manjit Singh Cheema Secretary**
**Dated: ..10/01/2024................................**
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**Sunderland Sikh Association Statement of Financial Activities for the**
## **Year Ended 31st March 2023**
|
**Incoming resources**
Grants
Interest Received
Donations
Total Incoming Resources
**Resources Expended**
Cleaning and sanitary
Accountancy
Wages & National Insurance
Rates
Insurance
Printing, Postage & Stationary
Immigration fees
Telephone
Heat, Light & Water
Repairs & Renewals
Sundries
Depreciation
Refreshments
Professional fees
Motor expenses
Bank charges
Donations and school
Total resources expended
Net Incoming/(Outgoing)incoming
Less Transfers to Capital Assets
Fund balances brought forward
Fund balances carried forward|**Notes**
(2)
(3)
|**Unrestricted**
**Fund**
0
769
152,964
153,733
1,030
1,440
1,520
2,150
9,061
146
0
447
22,926
8,075
303
16,456
8,512
714
228
426
571
74,005
79,728
770,566
850,294|**Unrestricted**
**Fund**
0
769
152,964
153,733
1,030
1,440
1,520
2,150
9,061
146
0
447
22,926
8,075
303
16,456
8,512
714
228
426
571
74,005
79,728
770,566
850,294|**Restricted**
**Fund**
-|**Total**
**Fund**
**31.3.23**
0
769
152,832
153,733
1,030
1,440
1,520
2,150
9,061
146
0
447
22,926
8,075
303
16,456
8,512
714
228
426
571
74,005
79,728
-
770,566
850,294|**Total**
**Fund**
**31.3.23**
0
769
152,832
153,733
1,030
1,440
1,520
2,150
9,061
146
0
447
22,926
8,075
303
16,456
8,512
714
228
426
571
74,005
79,728
-
770,566
850,294|
|---|---|---|---|---|---|---|
|||
||
|||
||||850,294||850,294|770,566|
The notes on pages 10 to 12 form part of the financial statements
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|
Fixed Assets
Tangible assets
**Current Assets**
Cash at bank
Cash in hand
Debtors
**Creditors: Amounts Falling due**
**Within one year**
**Net Current Assets**
**Net Assets**
**Funds**
Unrestricted
Restricted
|**Notes**
(4)
(5)
(6)
(7)|£
469,951
2,283
427
472,661
1,440|**The**
**2023**
£
379,073
**471,221**
**850,294**
850,294
0
850,294|**Sunderland Sikh Association**
**Balance Sheet**
**As at 31st March 2023**
**2022**
£ £
395,528
368,937
2,283
5,258
376,478
1,440
375,038
770,566
770,566
0
770,566|
|---|---|---|---|---|
|||||376,478|
||||||
||||850,294||
**Approved by the Executive Committee on And signed on its behalf by:**
**.................................. Surjeet Singh Sangha President**
## **…………………….. Manjit Singh Cheema Secretary**
**Dated:** 10/01/2024 **..................................**
The notes on pages 9 to 10 form part of these financial statements
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**The Sunderland Sikh Association Notes to the Financial Statements For the year ended 31st March 2023**
## **1. Accounting policies**
- (a) The accounts are prepared under the historical cost convention. They comply with the requirements of the Statement of Recommended Practice Accounting and Reporting by Charities (SORP) and are in accordance with the Financial Reporting Standards for Smaller Entities (effective June 2002).
- (b) General accumulated funds are unrestricted funds available to the charity for its general purpose and include funds designated by the charity for a particular purpose; the use of such designated funds remains at the discretion of the charity’s officers and executive committee.
- (c) Restricted funds are subject to restrictions imposed by the donor or by the specific terms of the appeal under which the funds are raised. The restrictions are binding upon the executive committee of the charity.
- (d) All income and expenditure is accounted for on an accruals basis.
- (e) Donations, grants and legacies are included in the Statement of Financial Activities (SOFA) when:
##
-
- The charity becomes entitled to the income and any conditions for receipt are met,
- The trustees are reasonably certain they will receive it, and
- The trustees are reasonably certain that the value can be reliably measured.
(f)
write off the assets over their expected useful lives, grant aided items are written off over a ten year period on a straight line basis.
|**The depreciation rates are as follows:**
Improvements to property
4%
Buildings
2%
Fixtures and fittings
10%
Equipment
10%
Grant aided improvements 10% straight line
**2.**
**Donations**
**Unrestricted Restricted**
**Fund Fund**
General donations
152,964
-
**3.**
**Staff Costs**
Wages & Salaries
The average number of employees analysed by functions was
General
Teacher/Preacher|**Total Total**
**31.3.23** **31.3.22**
152,964 153,819
**31.3.23 31.3.22**
1,520
7,571
**31.3.23 31.3.22**
1
1
11
**2**
2|
|---|---|
The executive committee did not receive any remuneration during the year nor were any expenses reimbursed.
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**The Sunderland Sikh Association Notes to the Financial Statements For the year ended 31st March 2023**
## **4. Tangible fixed assets**
|||**Improvements**||**Fixtures and**||
|---|---|---|---|---|---|
||**Equipment**|**To Property**|**Buildings**|**Fittings**|**Total**|
|**Cost**||||||
|As at 1 April 2022|9,072|
160,271|403,789|61,857|634,989|
|Additions|-|-|-|-|-|
|At 31st March 2023|9,072|
160,271|403,789|61,857|634,989|
|**Depreciation**||||||
|At 1 April 2022|6,629|90,148|95,207|47,476|239,460|
|Charge for year|244|8,602|6,172|1,438|16,456|
|At 31st March 2023|6,873|98,750|101,379|48,914|255,916|
|**Net Book Value**||||||
|At 31st March 2022|2,443|70,123|308,582|14,380|395,528|
|At 31st March 2023|2,199|61,521|302,410|12,943|379,073|
|**Creditors**||||||
|**(a) Creditors: amounts**|**falling due within one**|**year**||||
|Other creditors||||**2023**|**2022**|
|||||1,440|1,440|
|**Unrestricted funds**||||||
||**Balance**|**Incoming**|**Expenditure**|**Transfers**|**Balance**|
||**At 1.4.22**|**Resources**|||**At 31.3.23**|
|Designated||||||
|Fund:||||||
|Capital Fund|420,272||||420,272|
|General Fund:||||||
|Income and||||||
|Expenditure|350,294|153,733|(74,005)|0|430,022|
||770,566|153,733|(74,005)|0|850,294|
## **5. Creditors**
## **6.**
The designated capital fund has been set up to represent the charity’s investment in capital expenditure. The fund is charged with depreciation.
## **7. Analysis of net assets by fund**
|**Unrestricted**
**Restricted**
**Fund**
**Fund**
Fixed assets
379,073
-
Net current Assets
471,221
-
-|**Total**
379,073
471,221|
|---|---|
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