| Page | |||
|---|---|---|---|
| Report ofthe Custodian Trustees |
I | to | 2 |
| Report ofthe Independent Auditors |
3 | to | 5 |
| Statement ofFinancial Activities | |||
| Balance Sheet | |||
| Notes to the Financial Statements | 8 | to | 14 |
| Detailed Statement ofFinancial Activities | I5 | to | l6 |
| REFERENCE AND | REFERENCE AND | ADMINISTRATIVE DETAILS |
|---|---|---|
| Registered Charity |
number | |
| 1107100 | ||
| Principal address | ||
| 50 Wilbury Way |
||
| Hitchin | ||
| Herts | ||
| SG4 OTP | ||
| Custodian Trustees |
||
| Baldev Singh | ||
| Jhalman Singh Lidder |
||
| Shangar Singh Thind | ||
| Sucha Singh Phgura | ||
| Harchet Singh Bains | ||
| Auditors | ||
| Mr Domenico Maurello | ||
| FCCA | ||
| Keelings Limited | ||
| Statutory Auditors, |
Chartered Tax Advisers | |
| and Chartered Certified Accountants |
||
| Broad House | ||
| I The Broadway | ||
| Old Hatfield | ||
| Hettfordshire | ||
| AL9 SBG |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| fund | funds | funds | funds | ||||
| Notes | f | ||||||
| INCOME | AND ENDOWMENTS FROM | ||||||
| Donations | and legacies | 2 | 200,486 | 200,486 | 222,426 | ||
| Investment | income | 3 | 113400 | 113~0 | 122,902 | ||
| Total | ~313986 | 313,986 | 345,328 | ||||
| EXPENDITURE ON | |||||||
| Raising funds | (150,182) | ||||||
| 199,018 | 199,018 | 150,513 | |||||
| Total | 199,018 | 199,018 | 331 | ||||
| NET INCOME | 114,968 | 114,968 | 344,997 | ||||
| RECONCILIATION | OF FUNDS | ||||||
| Total funds | brought forward | 3,816,883 | 3,816,883 | 3,471,886 | |||
| TOTAL FUNDS CARRIED FORWARD | 3,931,851 | - | ~3,931851 | ~3816,883 |
| BALANCE SHEET 31DECEMBER2022 |
||||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| Unrestricted | Restricted | Total | Total | |||
| fund | funds | funds | funds | |||
| Notes | ||||||
| FIXEDASSETS | ||||||
| Tangible assets | 9 | 2,411,655 | 2,411,655 | 2,442,700 | ||
| Investment properties |
10 | ~1525000 | ~1,525000 | ~1525,000 | ||
| 3,936,655 | 3,936,655 | 3,967,700 | ||||
| CURRENT ASSETS | ||||||
| Debtors Cash at bank and in hand |
ll | 14,100 ~83 49 |
14,100 83,549 |
23,930 237,698 |
||
| 97,649 | 97,649 | 261,628 | ||||
| CREDITORS | ||||||
| Amounts falling due within |
one year | l2 | (14,406) | (14,406) | (6,865) | |
| NET CURRENT ASSETS | 83,243 | 83443 | 254,763 | |||
| TOTAL ASSETSLESSCURRENT LIABILITIES | 4,0192)98 | 4,019,898 | 4,222,463 | |||
| CREDITORS | ||||||
| Amounts falling due afier more than one year |
13 | (88,047) | (88,047) | (405,580) | ||
| NET ASSETS | ~331,851 | 3,931,851 | 3,816,883 | |||
| FUNDS | ||||||
| Unrestricted funds |
3,931,851 | 3,661,883 | ||||
| Restricted funds | 155,000 | |||||
| TOTAL FUNDS | 3,931,S51 | 3,816,883 |
| DONATIONS | AND LE | GACI | ES | ||||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| f | |||||||
| Donations | 137,809 | 145,660 | |||||
| Gift aid | 25,488 | ||||||
| Grants | 5,879 | ||||||
| Donated services and facilities |
59,377 | 45,399 | |||||
| Other income | 3,300 | ||||||
| 200,486 | 222,426 | ||||||
| Grants received, included | in the | above, are as follows: | |||||
| 2022 | 2021 | ||||||
| Job Retention | Scheme grant | 5,879 | |||||
| INVESTMENT INCOME | |||||||
| 2022 | 2021f | ||||||
| Rents received | 113,500 | ~122 902 | |||||
| SUPPORT COSTS | |||||||
| Governance | |||||||
| Management f. |
Finance 6 |
Otherf | costs | Totals | |||
| Other resources expended | 26,742 | 15,271 | 117,768 | 2,782 | 162,563 |
| FOR | THE YEAR ENDED | 31DECEMBE | R 2022 | |||
|---|---|---|---|---|---|---|
| 7. | STAFFCOSTS | |||||
| 2022 | 2021 | |||||
| Wages and salaries | 36,028 | 30,336 | ||||
| Other pension costs | 427 | 273 | ||||
| 36,455 | 30,609 | |||||
| The average monthly |
number ofemployees | during the year was as follows: | ||||
| 2022 | 2021 | |||||
| Religious workers | 4 | 4 | ||||
| No employees received emoluments |
in excess off60,000. | |||||
| COMPARATIVES | FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |||||
| Unrestricted | Restricted | Total | ||||
| fundf | fundsf | fundsf | ||||
| INCOME AND ENDOWMENTS | FROM | |||||
| Donations and legacies |
222,426 | 222,426 | ||||
| Investment income |
122,902 | 122,902 | ||||
| Total | ~345 328 | ~345 328 | ||||
| EXPENDITURE ON | ||||||
| Raising funds | 4,818 | (155,000) | (150,182) | |||
| Other | 150,513 | 150,513 | ||||
| Total | ~155331 | ~155000) | 331 | |||
| NET INCOME | 189,997 | 155,000 | 344,997 | |||
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought | forward | 3,471,886 | 3,471,886 | |||
| TOTAL FUNDS CARRIED FORWARD | 3,661,883 | 155,000 | 3,816,883 |
| TANGIBLE FIXEDASSETS | ||||
|---|---|---|---|---|
| Fixtures | ||||
| Freehold | and | Motor | ||
| property | fittings | vehicles | Totals | |
| COST | ||||
| At I January 2022 and 31 December 2022 | 2,612,419 | 113,652 | 17,128 | 2,743,199 |
| DEPRECIATION | ||||
| At I January 2022 | 178358 | 111,035 | 11,106 | 300,499 |
| Charge for year | 28,681 | 858 | 1,506 | 31,045 |
| At 31 December 2022 | 207,039 | 111,893 | 12,612 | 331,544 |
| NET BOOKVALUE | ||||
| At 31 December 2022 | 2,405080 | 1,759 | 4,516 | 2,411,655 |
| At 31 December 2021 | 2,434,061 | 2,617 | 6,022 | 2,442,700 |
| 10, | INVESTMENT PROPERTIES | INVESTMENT PROPERTIES | ||||
|---|---|---|---|---|---|---|
| FAIRVALUE | ||||||
| At I January 2022 | ||||||
| and 31 December 2022 | 1,525,000 | |||||
| NET BOOKVALUE | ||||||
| At 31December 2022 | 1,525,000 | |||||
| At 31 December 2021 | ~1,525 000 | |||||
| Included in investment |
properties | is freehold | land valued atf275,000 (2021 - f275,000). | |||
| Fair value at 31December 2022 is represented | by: | |||||
| g | ||||||
| Valuation in 2020 |
565,000 | |||||
| Valuation in 2021 |
155,000 | |||||
| Cost | 805,000 | |||||
| 1,525,000 | ||||||
| 11. | DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 2022 | 2021 | |||||
| 6 | f. | |||||
| Trade debtors | 14,100 | 14,100 | ||||
| Other debtors | 9,830 | |||||
| 14,100 | 23,930 |
| FOR | THE YEAR ENDED 31DECEMBER 2022 | THE YEAR ENDED 31DECEMBER 2022 | THE YEAR ENDED 31DECEMBER 2022 | |||
|---|---|---|---|---|---|---|
| 12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 2022 | 2021 | |||||
| Trade creditors | 190 | |||||
| Social security | and other taxes | 700 | 80 | |||
| VAT | 3,525 | 2,350 | ||||
| Other creditors | and accruals | 10,181 | 4245 | |||
| 14,406 | 6,865 | |||||
| 13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN | ONE YEAR | ||||
| 2022 | 2021 | |||||
| f | ||||||
| Bank loans (see note 14) | 88,047 | ~405 580 | ||||
| 14. | LOANS | |||||
| An analysis ofthe maturity ofloans is given below: | ||||||
| 2022 f |
202lf | |||||
| Amounts falling due between two |
and five years: | |||||
| Bank loans - 2-5years | 88,047 | 405.580 | ||||
| 15. | MOVEMENT IN FUNDS | |||||
| Net | ||||||
| movement | At | |||||
| At l.l.22 | in funds | 31.12.22 | ||||
| f | f | f | ||||
| Unrestricted | funds | |||||
| General fund | 33)16,883 | 114,968 | 3,931,851 | |||
| TOTAL FUNDS | ~3,816883 | 114WS | 3,931,851 | |||
| Net movement | in funds, included | in the above are as follows: | ||||
| Incoming | Resources | Movement | ||||
| resources | expended f |
in funds f |
||||
| Unrestricted | funds | |||||
| General fund | 313,986 | (199,018) | 114,96S | |||
| TOTAL FUNDS | 313,986 | iI199,01S) | ~114968 |
| Net | |||||||
|---|---|---|---|---|---|---|---|
| movement | At | ||||||
| At 1.1.21 | in funds | 31.12.21 | |||||
| f | f. | ||||||
| Unrestricted funds |
|||||||
| General fund |
3,471,886 | 189,997 | 3,661,883 | ||||
| Restricted funds | |||||||
| Fair value reserve | 155,000 | 155.000 | |||||
| TOTAL FUNDS | 3,471,886 | 344,997 | ~3,816883 | ||||
| Comparative net movement |
in funds, | included | in the above are | as follows: | |||
| Incoming | Resources | Movement | |||||
| resources | expended f |
in funds | |||||
| Unrestricted funds |
|||||||
| General fund | 345,328 | (155,331) | 189,997 | ||||
| Restricted funds | |||||||
| Fair value reserve | 155,000 | 155,000 | |||||
| TOTALFUNDS | 345,328 | ~331) | 344,997 | ||||
| A current year 12months | and prior year 12months combined | position | is as follows: | ||||
| Net | |||||||
| movement | At | ||||||
| At 1.1.21 | in funds | 31.12.22 | |||||
| f | |||||||
| Unrestricted funds |
|||||||
| General fund | 3,471,886 | 304,965 | 3,776,851 | ||||
| Restricted funds | |||||||
| Fair value reserve | 155,000 | 155,000 | |||||
| TOTAL FUNDS | 3,471,886 | 459,965 | 3,931,851 |
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended f. |
in fundsf | |
| Unrestricted funds |
|||
| General fund |
659,314 | (354,349) | 304,965 |
| Restricted funds | |||
| Fair value reserve | 155,000 | 155,000 | |
| TOTAL FUNDS | ~659 314 | (199,349) | 459,965 |
| FORTHE YEA | R ENDED 31DECEMBER 2022 | ||
|---|---|---|---|
| 2022f | 2021 f |
||
| INCOME AND | ENDOWMENTS | ||
| Donations and legacies |
|||
| Donations | 1372109 | 145,660 | |
| Gift aid | 25,488 | ||
| Grants | 5,879 | ||
| Donated services Other income |
and facilities | 59477 ~300 |
45,399 |
| 200,486 | 222,426 | ||
| Investment income |
|||
| Rents received | 113000 | 122,902 | |
| Total incoming | resources | 313,986 | 345,328 |
| EXPENDITURE | |||
| Other | |||
| Wages &social | security | 36,028 | 30,336 |
| Pensions | 427 | 273 | |
| 36,455 | 30,609 | ||
| Support costs | |||
| Management | |||
| Telephone | 1,316 | 956 | |
| Postage and stationery | 461 | 756 | |
| Advertising | 250 | 225 | |
| Sundries | 449 | 651 | |
| Food and consumables | 7,809 | 2,828 | |
| Motor, travel and subsistence | 155 | 150 | |
| Sikh preaching | &Keertan | 11,440 | 3,367 |
| Youth related activities | 74 | 6,038 | |
| Audio and visual | 411 | 1,674 | |
| Professional fees |
77 | 3,176 | |
| Gurbani classes | 4400 | ||
| 26,742 | 19,821 | ||
| Finance | |||
| Bank charges | 528 | 3,553 | |
| Bank interest | ~14 743 | 4,818 | |
| 15,271 | 8,371 | ||
| Other | |||
| Rates, water and utilities | 16,662 | 2,474 | |
| Insurance | 3,283 | 5,929 | |
| Light and heat | 26,719 | 22,149 | |
| Repairs and renewals | 40,059 | 28,588 | |
| Freehold property | 28,681 | 29,266 | |
| Fixtures and fittings Motor vehicles |
858 1~6 |
3,238 2,007 |
|
| 117,768 | 93,651 |
| FORTHE YE | AR ENDED | 31DECEMBER 2022 | ||
|---|---|---|---|---|
| 2022f | 2021 | |||
| Other | ||||
| Gain/loss on |
revaluation | on assets | ||
| Gain on revaluation | (155,000) | |||
| Governance | costs | |||
| Auditors' remuneration |
1,250 | 1,250 | ||
| Accountancy | and legal fees | 1,532 | 1,629 | |
| ~2782 | 2,879 | |||
| Total resources | expended | 199,018 | 331 | |
| Net income | 114,968 | 344,997 |