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2020-12-31-accounts

REGISTERED CHARITY NUMBER: 1107100

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

SRI GURU SINGH SABHA HITCHIN

Jones Hunt & Keelings Chartered Certified Accountants and Chartered Tax Advisers

71 Knowl Piece Wilbury Way Hitchin SG4 0TY

SRI GURU SINGH SABHA HITCHIN

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 11
Detailed Statement of Financial Activities 12 to 13

SRI GURU SINGH SABHA HITCHIN

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. 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).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Organisational structure

An executive board of up to 15 members, meet at least quarterly, to administer the charity. There are ad-hoc sub-committees where applicable to cover development, membership, finance and audit.

The Executive Board members who served during the year ended 31 December 2020 were as follows:

Mandeep Singh Basra (Chairman) Gurjeet Singh (General Secretary) Amrik Singh Shergill (Treasurer) Balbir Singh Santokh Singh Takhar Gurjit Singh Kalirai Jatinder Singh Matharu Harvinder Singh Pooni Surjit Singh Sidhu Gurcharan Singh Flora Surtar Singh Bachra Balraj Singh Dulay Shamsher Singh Bachra Joginder Singh Khera Sukhwinder Singh Dhaliwal

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.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1107100

Principal address

50 Wilbury Way Hitchin Herts SG4 0TP

Trustees B Singh J Singh Lidder S Singh Thind S Singh Phgura H S Bains Independent Examiner Mr Domenico Maurello FCCA Jones Hunt & Keelings Chartered Certified Accountants and Chartered Tax Advisers 71 Knowl Piece Wilbury Way Hitchin SG4 0TY

Page 1

SRI GURU SINGH SABHA HITCHIN

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

Approved by order of the board of trustees on 22 October 2021 and signed on its behalf by:

B Singh - Trustee

Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SRI GURU SINGH SABHA HITCHIN

Independent examiner's report to the trustees of Sri Guru Singh Sabha Hitchin

I report to the charity trustees on my examination of the accounts of Sri Guru Singh Sabha Hitchin (the Trust) for the year ended 31 December 2020.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr Domenico Maurello FCCA Jones Hunt & Keelings Chartered Certified Accountants and Chartered Tax Advisers 71 Knowl Piece Wilbury Way Hitchin SG4 0TY

22 October 2021

Page 3

SRI GURU SINGH SABHA HITCHIN

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Investment income
3
Total
EXPENDITURE ON
Other
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2020
Unrestricted
Restricted
Total
fund
funds
funds
£
£
£
124,308
-
124,308
83,224
-
83,224
207,532
-
207,532
130,824
(565,000)
(434,176)
76,708
565,000
641,708
2,830,178
-
2,830,178
2,906,886
565,000
3,471,886		 2019
Total
funds
£
236,691
54,590
291,281
192,301
98,980
2,731,198
2,830,178

The notes form part of these financial statements

Page 4

SRI GURU SINGH SABHA HITCHIN

BALANCE SHEET 31 DECEMBER 2020

Notes
FIXED ASSETS
Tangible assets
8
Investment properties
9
CURRENT ASSETS
Debtors
10
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
12
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
fund
£
2,477,211
805,000
3,282,211
-
79,784
79,784
(455,109)
(375,325)
2,906,886
2,906,886		 Restricted
funds
£
-
565,000
565,000
-
-
-
-
-
565,000
565,000		 2020
Total
funds
£
2,477,211
1,370,000
3,847,211
-
79,784
79,784
(455,109)
(375,325)
3,471,886
3,471,886
2,906,886
565,000
3,471,886		 2019
Total
funds
£
2,509,191
390,000
2,899,191
452
296,394
296,846
(365,859)
(69,013)
2,830,178
2,830,178
2,830,178
-
2,830,178

The financial statements were approved by the Board of Trustees and authorised for issue on 22 October 2021 and were signed on its behalf by:

B Singh - Trustee

The notes form part of these financial statements

Page 5

SRI GURU SINGH SABHA HITCHIN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

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.

Freehold property - in accordance with the property Fixtures and fittings - 10% on cost Motor vehicles - 25% on reducing balance

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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Government grants

Government grants given in respect of the Coronavirus Job Retention Scheme have been accounted for under the accrual model, recognised as other income against the period to which they relate. During the year, £16,836 (2019 - nil) has been recognised. There were no unfulfilled conditions or contingencies attached to the grant.

continued...

Page 6

SRI GURU SINGH SABHA HITCHIN

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

2. DONATIONS AND LEGACIES

2020
£
Donations
58,305
Gift aid
24,297
Grants
16,836
Donated services and facilities
24,870
124,308
Grants received, included in the above, are as follows:
2020
£
Other grants
16,836
3.
INVESTMENT INCOME
2020
£
Rents received
83,223
Deposit account interest
1
83,224
4.
SUPPORT COSTS
Management
Finance
£
£
Other resources expended
15,052
246
Gain/loss
on
revaluation
Governance
on assets
costs
£
£
Other resources expended
(565,000)
1,589		 2019
£
142,481
37,352
-
56,858		 2019
£
142,481
37,352
-
56,858
236,691
2019
£
-
2019
£
54,571
19
54,590
Other
£
78,037
Totals
£
(470,076)

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.

6. STAFF COSTS

Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Priests		 2020
£
35,533
367
35,900
2020
4		 2019
£
37,124
348
37,472
2019
4

No employees received emoluments in excess of £60,000.

continued...

Page 7

SRI GURU SINGH SABHA HITCHIN

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

7.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
236,691
Investment income
54,590
Total
291,281
EXPENDITURE ON
Other
192,301
NET INCOME
98,980
RECONCILIATION OF FUNDS
Total funds brought forward
2,731,198
TOTAL FUNDS CARRIED FORWARD
2,830,178
8.
TANGIBLE FIXED ASSETS
Fixtures
Freehold
and
property
fittings
£
£
COST
At 1 January 2020
2,607,419
113,652
Additions
5,000
-
At 31 December 2020
2,612,419
113,652
DEPRECIATION
At 1 January 2020
119,227
103,358
Charge for year
29,865
4,439
At 31 December 2020
149,092
107,797
NET BOOK VALUE
At 31 December 2020
2,463,327
5,855
At 31 December 2019
2,488,192
10,294		 Restricted
funds
£
-
-
-
-
-
-
-
Motor
vehicles
£
17,128
-
17,128
6,423
2,676
9,099
8,029
10,705		 Total
funds
£
236,691
54,590
291,281
192,301
98,980
2,731,198
2,830,178
Totals
£
2,738,199
5,000
2,743,199
229,008
36,980
265,988
2,477,211
2,509,191

Included in cost or valuation of land and buildings is freehold land of £1,000,000 (2019 - £1,000,000) which is not depreciated.

continued...

Page 8

SRI GURU SINGH SABHA HITCHIN

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

9.
INVESTMENT PROPERTIES
FAIR VALUE
At 1 January 2020
Additions
Revaluation
At 31 December 2020
NET BOOK VALUE
At 31 December 2020
At 31 December 2019
Included in investment properties is freehold land valued at £425,000 (2019 - £275,000).
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors and accruals
12.
MOVEMENT IN FUNDS
At 1.1.20
£
Unrestricted funds
General fund
2,830,178
Restricted funds
Fair value reserve
-
TOTAL FUNDS
2,830,178
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
207,532
Restricted funds
Fair value reserve
-
TOTAL FUNDS
207,532		 2020
£
-
2020
£
152
2,966
451,991
455,109
Net
movement
in funds
£
76,708
565,000
641,708
Resources
expended
£
(130,824)
565,000
434,176		 £
390,000
415,000
565,000		 £
390,000
415,000
565,000		 £
390,000
415,000
565,000
1,370,000
1,370,000
390,000
2019
£
452
2019
£
-
1,984
363,875
365,859
At
31.12.20
£
2,906,886
565,000		 2019
£
452
2019
£
-
1,984
363,875		 2019
£
452
365,859
3,471,886
Movement
in funds
£
76,708
565,000
641,708
641,708

continued...

Page 9

SRI GURU SINGH SABHA HITCHIN

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement
At 1.1.19
in funds
£
£
Unrestricted funds
General fund
2,731,198
98,980
TOTAL FUNDS
2,731,198
98,980
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
291,281
(192,301)
TOTAL FUNDS
291,281
(192,301)
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At 1.1.19
in funds
£
£
Unrestricted funds
General fund
2,731,198
175,688
Restricted funds
Fair value reserve
-
565,000
TOTAL FUNDS
2,731,198
740,688
A current year 12 months and prior year 12 months combined net movement in funds, included in the above a
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
498,813
(323,125)
Restricted funds
Fair value reserve
-
565,000
TOTAL FUNDS
498,813
241,875		 At
31.12.19
£
2,830,178
2,830,178
Movement
in funds
£
98,980
98,980
At
31.12.20
£
2,906,886
565,000
3,471,886
re as follows:
Movement
in funds
£
175,688
565,000
740,688

continued...

Page 10

SRI GURU SINGH SABHA HITCHIN

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

13. RELATED PARTY DISCLOSURES

The balance due to trustee, committee members and congregation at the balance sheet date was nil (2019: £205,000).

Page 11

SRI GURU SINGH SABHA HITCHIN

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Grants
Donated services and facilities
Investment income
Rents received
Deposit account interest
Total incoming resources
EXPENDITURE
Other
Wages & social security
Pensions
Support costs
Management
Telephone
Postage and stationery
Advertising
Sundries
Food and consumables
Motor, travel and subsistence
Punjabi School
Gurpurab expenses
Sikh preaching & Keertan
Youth related activities
Audio and visual
Professional fees
Donations (external)
Motor vehicles
Finance
Bank charges
Other
Rates, water and utilities
Insurance
Light and heat
Repairs and renewals
Freehold property
Carried forward		 2020
£
58,305
24,297
16,836
24,870
124,308
83,223
1
83,224
207,532
35,533
367
35,900
633
452
-
177
902
597
-
700
945
1,413
821
-
5,736
2,676
15,052
246
5,228
2,212
23,041
13,252
29,865
73,598		 2019
£
142,481
37,352
-
56,858
236,691
54,571
19
54,590
291,281
37,124
348
37,472
843
1,137
290
555
5,132
1,370
7,580
6,526
15,015
4,438
3,060
22,037
4,000
3,568
75,551
538
3,407
2,893
29,626
6,338
30,371
72,635

This page does not form part of the statutory financial statements

Page 12

SRI GURU SINGH SABHA HITCHIN

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2020
Other
Brought forward
Fixtures and fittings
Gain/loss on revaluation on assets
Gain on revaluation
Governance costs
Accountancy and legal fees
Total resources expended
Net income		 2020
£
73,598
4,439
78,037
(565,000)
1,589
(434,176)
641,708		 2019
£
72,635
4,443
77,078
-
1,662
192,301
98,980

This page does not form part of the statutory financial statements

Page 13