Your Company Name and/or Letter Head
BUSINESS ADVISORS • CHARTERED ACCOUNTANTS • REGISTERED AUDITORS
23 March 2022
629-631 STRATFORD ROAD SPARKHILL BIRMINGHAM B11 4AN GURU NANAK GURDWARA SOUTH BIRMINGHAM
Dear ,
Accounts for Period ended 30/04/2021
Please find attached final accounts for GURU NANAK GURDWARA SOUTH BIRMINGHAM for the period ended 30/04/2021 [including filleted/abbreviated accounts if appropriate].
Please review the attached carefully and if you are happy that the accounts can be approved please print out a set of each of the attached documents, obtain appropriate signatures at the foot of each Balance Sheet [and Directors Report, if relevant] and return the signed documents to this office.
Please do not hesitate to contact us if you have any queries.
Yours sincerely,
SARBJIT BILKHU
YOUR ADDRESS CAN GO HERE OR WHATEVER YOU MAY WANT IN THE FOOTER TELEPHONE: 01932 840572 FAX: 01932 855584 E-mail: support@btcsoftware.co.uk
GURU NANAK GURDWARA SOUTH BIRMINGHAM
Charity No. 1107767
Trustees' Report and Unaudited Accounts
30 April 2021
GURU NANAK GURDWARA SOUTH BIRMINGHAM Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Accounts | 6 |
Page 1
GURU NANAK GURDWARA SOUTH BIRMINGHAM Trustees Annual Report
The trustees present their report with the unaudited financial statements of the charity for the year ended 30 April 2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1107767
Principal Office
629-631 Strafford Road Sparkhill Birmingham B11 4AN
Trustees
The following trustees served during the year:
M.S. KHALSA A. SAGGU B.S. SANDHAWALIA
Accountants
Bilkhu and co ltd 18-20 Navigation Street Walsall West Midlands WS2 9LT
Bankers
Barclays Bank plc
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
M.S. KHALSA Trustee 30 April 2021
Page 2
GURU NANAK GURDWARA SOUTH BIRMINGHAM Independent Examiners Report
Independent Examiner's Report to the trustees of GURU NANAK GURDWARA SOUTH BIRMINGHAM
I report to the trustees on my examination of the financial statements of GURU NANAK GURDWARA SOUTH BIRMINGHAM for the year ended 30 April 2021 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the 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 can 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:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
Sarbjit Bilkhu AAIA,FMAAT
Member of the Association of International Accountants
Bilkhu and co ltd 18-20 Navigation Street Walsall West Midlands
WS2 9LT 30 April 2021
Page 3
GURU NANAK GURDWARA SOUTH BIRMINGHAM Statement of Financial Activities
for the year ended 30 April 2021
| Notes Income and endowments from: Donations and legacies 3 Investments 4 Other 5 Total Expenditure on: Raising funds 6 Other 7 Total Net gains on investments Net income 8 Transfers between funds Net income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds |
Total funds | Total funds | |
|---|---|---|---|---|
| 2021 | 2021 | 2020 | ||
| £ | £ | £ | ||
| 126,935 | 126,935 | 216,701 | ||
| 31,445 | 31,445 | 23,691 | ||
| 118 | 118 | - | ||
| 158,498 | 158,498 | 240,392 | ||
| 14,868 | 14,868 | 62,067 | ||
| 111,321 | 111,321 | 135,779 | ||
| 126,189 | 126,189 | 197,846 | ||
| - | - | - | ||
| 32,309 | 32,309 | 42,546 | ||
| - | - | - | ||
| 32,309 | 32,309 | 42,546 | ||
| 32,309 | 32,309 | 42,546 | ||
| 2,176,741 | 2,176,741 | 2,134,195 | ||
| 2,209,050 | 2,209,050 | 2,176,741 | ||
Page 4
GURU NANAK GURDWARA SOUTH BIRMINGHAM Balance Sheet
at 30 April 2021
| Charity No. 1107767 Fixed assets Tangible assets 10 Current assets Cash at bank and in hand Creditors:Amount falling due within one year 11 Net current assets Total assets less current liabilities Creditors:Amounts falling due after more than one year 12 Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 13 Unrestricted funds 13 General funds Reserves 13 Total funds Approved by the trustees on 30 April 2021 And signed on their behalf by: |
2021 £ 3,351,360 3,351,360 76,085 76,085 (2,000) 74,085 3,425,445 (1,216,395) 2,209,050 2,209,050 2,209,050 2,209,050 2,209,050 |
2020 £ 3,360,187 |
|---|---|---|
| 3,360,187 51,554 |
||
| 51,554 (3,037) |
||
| 48,517 3,408,704 (1,231,963) |
||
| 2,176,741 | ||
| 2,176,741 | ||
| 2,176,741 | ||
| 2,176,741 | ||
| 2,176,741 | ||
M.S. KHALSA Trustee 30 April 2021
Page 5
GURU NANAK GURDWARA SOUTH BIRMINGHAM Notes to the Accounts
for the year ended 30 April 2021
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
-
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 6
GURU NANAK GURDWARA SOUTH BIRMINGHAM Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Plant and machinery 15% Flat rate
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Page 7
GURU NANAK GURDWARA SOUTH BIRMINGHAM Notes to the Accounts
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 8
GURU NANAK GURDWARA SOUTH BIRMINGHAM
Notes to the Accounts
2 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Investments Total Expenditure on: Raising funds Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Donations,offering and other forms of voluntry income are recognised as incoming resources when receivable,expect insofar as they are incapable of financial management. The value of services provided by the volunteers as well as food offering has not been included in the accounts. |
Unrestricted £ 114,977 11,958 126,935 |
Unrestricted funds 2020 £ 216,701 23,691 240,392 62,067 135,779 197,846 42,546 42,546 42,546 2,134,195 2,176,741 Total 2021 £ 114,977 11,958 126,935 |
Total funds 2020 £ 216,701 23,691 |
|---|---|---|---|
| 240,392 62,067 135,779 |
|||
| 197,846 | |||
| 42,546 | |||
| 42,546 | |||
| 42,546 2,134,195 |
|||
| 2,176,741 | |||
| Total 2020 £ 216,701 - |
|||
| 216,701 |
Page 9
GURU NANAK GURDWARA SOUTH BIRMINGHAM
Notes to the Accounts
4 Income from investments
| 5 Other income 6 Expenditure on raising funds Costs of generating voluntary income Donations,offering and other forms of voluntry income are recognised as incoming resources when receivable,expect insofar as they are incapable of financial management. |
Unrestricted £ 31,445 - - 31,445 Unrestricted £ 118 118 |
Total 2021 £ 31,445 - - 31,445 Total 2021 £ 118 118 |
Total 2020 £ 23,381 215 95 |
|---|---|---|---|
| 23,691 | |||
| Total 2020 £ - |
|||
| - | |||
| Unrestricted £ 14,868 14,868 |
Total 2021 £ 14,868 14,868 |
Total 2020 £ 62,067 |
|
| 62,067 |
Page 10
GURU NANAK GURDWARA SOUTH BIRMINGHAM Notes to the Accounts
7 Other expenditure
| Bank loan and overdraft interest payable Employee costs Motor and travel costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 8 Net income before transfers This is stated after charging: Depreciation of owned fixed assets 9 Staff costs Salaries and wages No employee received emoluments in excess of £60,000. 10 Tangible fixed assets Cost or revaluation At 1 May 2020 At 30 April 2021 Depreciation and impairment At 1 May 2020 Depreciation charge for the year At 30 April 2021 Net book values At 30 April 2021 At 30 April 2020 |
Unrestricted £ 27,236 11,971 205 52,821 8,827 4,181 6,080 111,321 2021 £ 8,827 2021 5,467 5,467 Land and buildings £ 3,301,339 3,301,339 - - - 3,301,339 3,301,339 |
Total 2021 £ 27,236 11,971 205 52,821 8,827 4,181 6,080 111,321 Plant and machinery £ 226,601 226,601 167,753 8,827 176,580 50,021 58,848 |
Total 2020 £ 35,681 21,250 2,969 54,794 10,384 8,121 2,580 |
|---|---|---|---|
| 135,779 | |||
| 2020 £ 10,384 2020 16,830 |
|||
| 16,830 | |||
| Total £ 3,527,940 |
|||
| 3,527,940 | |||
| 167,753 8,827 |
|||
| 176,580 | |||
| 3,351,360 | |||
| 3,360,187 |
Page 11
GURU NANAK GURDWARA SOUTH BIRMINGHAM Notes to the Accounts
11 Creditors:
amounts falling due within one year
| Other creditors Accruals 12 Creditors: amounts falling due after more than one year Bank loans and overdrafts 13 Movement in funds At 1 May 2020 Restricted funds: Unrestricted funds: General funds 2,176,741 Total funds 2,176,741 14 Analysis of net assets between funds Fixed assets Net current assets Creditors due in more than one year and provisions 15 Reconciliation of net debt Cash and cash equivalents Bank loans Net debt |
2021 £ - |
2020 £ 1,037 |
|
|---|---|---|---|
| 2,000 | 2,000 | ||
| 2,000 2021 £ 1,216,395 1,216,395 Incoming resources (including other gains/losses ) £ 158,498 158,498 At 1 May 2020 £ |
Resources expended £ (126,189) (126,189) Unrestricted funds £ 3,351,360 74,085 (1,216,395) 2,209,050 Cash flows £ |
3,037 | |
| 2020 £ 1,231,963 |
|||
| 1,231,963 | |||
| At 30 April 2021 £ 2,209,050 |
|||
| 2,209,050 | |||
| Total £ 3,351,360 74,085 (1,216,395) |
|||
| 2,209,050 | |||
| At 30 April 2021 £ |
|||
| 51,554 | 24,531 | 76,085 | |
| 51,554 (1,231,963) |
24,531 | 76,085 (1,216,395) |
|
| Bank loans | 15,568 | ||
| Net debt | (1,231,963) (1,180,409) |
15,568 40,099 |
(1,216,395) |
| (1,140,310) |
Page 12
GURU NANAK GURDWARA SOUTH BIRMINGHAM Note$ to the A¢¢ounl$ Page 13
GURU NANAK GURDWARA SOUTH BIRMINGHAM Statement of Cash flows for the year ended 30 April 2021
| Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Dividends, interest and rents from investments Decrease in trade and other payables Net cash provided by operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Cash flows from financing activities Repayment of borrowings Net cash used in financing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2021 £ 32,309 8,827 (31,563) (1,037) 8,536 31,563 31,563 (15,568) (15,568) 24,531 51,554 76,085 |
2020 £ 42,546 10,384 (23,691) - |
|---|---|---|
| 29,239 23,691 |
||
| 23,691 | ||
| (40,991) | ||
| (40,991) | ||
| 11,939 | ||
| 39,615 | ||
| 51,554 | ||
| Components of cash and cash equivalents | ||
| Cash and bank balances | 76,085 | 51,554 |
| 76,085 | 51,554 |
Page 14
GURU NANAK GURDWARA SOUTH BIRMINGHAM Detailed Statement of Financial Activities
for the year ended 30 April 2021
| Income and endowments from: Donations and legacies Donations,offering and other forms of voluntry income are recognised as incoming resources when receivable,expect insofar as they are incapable of financial management. The value of services provided by the volunteers as well as food offering has not been included in the accounts. Investments Other Total income and endowments Expenditure on: Costs of generating donations and legacies Donations,offering and other forms of voluntry income are recognised as incoming resources when receivable,expect insofar as they are incapable of financial management. Total of expenditure on raising funds Other expenditure Bank loan and overdraft interest payable Employee costs |
Unrestricted funds 2021 £ 114,977 11,958 126,935 31,445 - - 31,445 118 118 158,498 14,868 14,868 14,868 27,236 27,236 |
Total funds 2021 £ 114,977 11,958 126,935 31,445 - - 31,445 118 118 158,498 14,868 14,868 14,868 27,236 27,236 |
Total funds 2020 £ 216,701 - |
|---|---|---|---|
| 216,701 | |||
| 23,381 215 95 |
|||
| 23,691 | |||
| - | |||
| - | |||
| 240,392 62,067 |
|||
| 62,067 | |||
| 62,067 35,681 |
|||
| 35,681 | |||
Page 15
GURU NANAK GURDWARA SOUTH BIRMINGHAM
Detailed Statement of Financial Activities
| Salaries/wages Staff training Motor and travel costs Vehicles - General costs Premises costs Rates Light, heat and power Premises cleaning Premises insurances Premises repairs and maintenance General administrative costs, including depreciation and amortisation Depreciation of Plant and machinery Bank charges Information and publications Software, IT support and related costs Stationery and printing Subscriptions Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Consultancy fees Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds |
5,467 6,504 11,971 205 205 7,305 26,703 5,571 9,858 3,384 52,821 8,827 851 - 144 714 - 1,556 916 13,008 3,005 - 3,075 6,080 111,321 126,189 - 32,309 32,309 - 32,309 |
5,467 6,504 11,971 205 205 7,305 26,703 5,571 9,858 3,384 52,821 8,827 851 - 144 714 - 1,556 916 13,008 3,005 - 3,075 6,080 111,321 126,189 - 32,309 32,309 - 32,309 |
16,830 4,420 |
|---|---|---|---|
| 21,250 | |||
| 2,969 | |||
| 2,969 | |||
| 6,361 28,212 6,665 7,174 6,382 |
|||
| 54,794 | |||
| 10,384 1,458 1,505 158 2,862 269 200 1,669 |
|||
| 18,505 | |||
| 2,000 580 - |
|||
| 2,580 | |||
| 135,779 | |||
| 197,846 - |
|||
| 42,546 | |||
| 42,546 - |
|||
| 42,546 |
Page 16
GURU NANAK GURDWARA SOUTH BIRMINGHAM Detailed Statement of Financial Activities
| GURU NANAK GURDWARA SOUTH BIRMINGHAM Detailed Statement of Financial Activities |
|||
|---|---|---|---|
| Reconciliation of funds: Total funds brought forward Total funds carried forward |
2,176,741 2,209,050 |
2,176,741 2,209,050 |
2,134,195 |
| 2,176,741 |
Page 17