REGISTERED COMPANY NUMBER: 05337262 (England and Wales) REGISTERED CHARITY NUMBER: 1108102
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Report of the Trustees and
Unaudited Financial Statements for the Year Ended 5 April 2025
for Sri Guru Singh Sabha Gurdwara Letchworth
George Hay Partnership LLP Chartered Accountants Brigham House High Street Biggleswade Bedfordshire SG18 OLD
Sri Guru Singh Sabha Gurdwara Letchworth
Contents of the Financial Statements for the Year Ended 5 April 2025
| Page | |||
|---|---|---|---|
| Report ofthe Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| NotestotheFinancialStatements | 8 | to | 14 |
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Sri Guru Singh Sabha Gurdwara Letchworth (Registered number: 05337262)
Report of the Trustees for the Year Ended 5 April 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 5 April 2025. 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims - To promote and advance the Sikh faith within the Sikh and the wider community in Letchworth Garden City and the surrounding areas.
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To promote better understandings of how to be good citizens via education and physical activities.
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To promote and advance the Sikh religion in accordance with the teachings of Sri Guru Granth Sahib (the Sikh holy book) and for the furtherance of the objective by arranging regular congregations of the Sadh Sangat (people who have faith in Sikhism) to worship Akalpurkh (the immortal one) in the Guru's way.
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Set up classes on various topics to educate and encourage youngsters to learn and participate.
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_.. 7 To provide facilities for performing marriages and other rites according to the Sikh traditions and in accordance with the laws of England.
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To arrange name giving ceremonies for new born babies of Sikh families.
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To carry on any other activities that may further advance the Sikh religion.
Achievements and Performance
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To further improve religious Sikh education, we have 1 Giani to perform Kirtan, Katha and teach Guru Granth Sahib Ji. 2. Special classes on correct pronunciation and reading of Sri Guru Granth Sahib Ji are in progress. Furthermore, to understand the meanings of the teaching we have Bani grammar classes for children and adults.
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Religious ceremonies performed regularly every day, main ones once a week and additional ceremonies according to demand.
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Engagement and Marriage ceremonies, birthday ceremonies are being performed on as required basis with a full view of the legal requirement of this country.
5, Additional Gianis, Katha Vachiks, Dhadi Jathas etc are called to enhance the religious ceremonies.
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Punjabi School with about 35 children and some 5 teachers. Children have achieved good understanding of Punjabi reading and writing with GCSE in Punjabi during the year.
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Youth development team set up with wider female participants.
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The property has been remains at the value of £1,250,000 by the Trustees as at 5 April 2025.
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The kitchen has been fully refurbished and the works were signed off by building control.
10.The HSBC COVID-19 Bounce Back Loan was available to all businesses, including charities. The Gurdwara has the ability to repay this loan at any time and is not in debt.
FINANCIAL REVIEW
Financial position
The charity's net income for the year amounted to £39,499 therefore total funds carried forward as at 5 April 2025 is £1,448,994. The financial position of the company, the results for the year and the transfers of funds are shown on page 5.
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Sri Guru Singh Sabha Gurdwara Letchworth (Registered number: 05337262)
Report of the Trustees for the Year Ended 5 April 2025
FINANCIAL REVIEW
Principal funding sources
The main source of funds is the donations from Sadh Sangat and so far, it has been positive and responsive. We thank all the Sikh community for their financial support.
Investments
The trustees’ investment powers are governed by the Memorandum and articles of Association.
Reserves policy
We are looking to invest charity's reserves so as not to lose its value by investing in land and building.
FUTURE PLANS
The whole of Irvin House has been purchased and a section of the area is being rented to keep Sangat’s burden to a minimum. All plans will be completed with a view to available funds and long-term survival of the Gurdwara. Leases and permissions have now all been secured.
The much needed car park issue is still with us and we must find a solution to address this requirement, pending funding and nearby place availability.
Structural investments have been made and are required to keep the old building in usable order , but we monitor carefully whether such expenditure enhances the building value. We also keep usage permission issues in check.
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We will focus more on education and seminars going forward including youth development.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Charity constitution
Sri Guru Singh Sabha Gurdwara Letchworth is constituted under the Memorandum and Articles of Association dated 23 December 2005 and is a registered charity No. 1108102. Sri Guru Singh Sabha Letchworth is an incorporated charity and the company registration number is 05337262.
Recruitment and appointment of new trustees Appointment by the Trustees from the nominees proposed by the Sangat using a selection process in compliance with the Memorandum and Articles of Association.
Risks
The Board examines the major risks that the charity faces each period when preparing and updating the strategic plan. The charity has developed systems to monitor and control these risks to mitigate any impact they may have on the charity in the future.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number 05337262 (England and Wales)
Registered Charity number 1108102
Registered office
Irvin House
Icknield Way Letchworth Garden City SG6 1EF
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Independent Examiner's Report to the Trustees of Sri Guru Singh Sabha Gurdwara Letchworth
Independent examiner's report to the trustees of Sri Guru Singh Sabha Gurdwara Letchworth (‘the Company’) | report to the charity trustees on my examination of the accounts of the Company for the year ended 5 April 2025.
(‘the
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 (‘the 2011 Act'). In carrying out my examination | have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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es the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
| 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.
) Richard Dilley FCA FCCA a
George Hay Partnership LLP
Chartered Accountants
Brigham House High Street Biggleswade Bedfordshire $G18 OLD
- Date: Bol sro.
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Sri Guru Singh Sabha Gurdwara Letchworth
Statement of Financial Activities for the Year Ended 5 April 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOMEAND ENDOWMENTS FROM | |||||
| Donations and legacies | 110,200 | - | 110,200 | 116,883 | |
| Investment income | 2 | 70,658 | - | 70,658 | 54,087 |
| Total | 180,858 | - | 180,858 | 170,970 | |
| EXPENDITURE ON | |||||
| Raising funds | 4,125 | - | 4,125 | - | |
| Charitable activities | |||||
| Management and adminstration | 137,498 | - | 137,498 | 122,022 | |
| Total | 141,623 | - | 141,623 | 122,022 | |
| NET INCOME | 39,235 | - | 39,235 | 48,948 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 1,409,495 | - | 1,409,495 | 1,360,547 | |
| TOTALFUNDSCARRIEDFORWARD | 1,448,730 | - | 1,448,730 | 1,409,495 |
The notes form part of these financial statements
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Sri Guru Singh Sabha Gurdwara Letchworth (Registered number: 05337262)
Balance Sheet
5 April 2025
| 2025 | 2024 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| FIXEDASSETS | ||||||
| Tangible assets | 7 | 1,324,283 | - | 1,324,283 | 1,258,253 | |
| CURRENTASSETS | ||||||
| Debtors | 8 | 55,371 | - | 55,371 | 56,769 | |
| Cash at bank and in hand | 127,258 | - | 127,258 | 156,364 | ||
| 182,629 | - | 182,629 | 213,133 | |||
| CREDITORS | ||||||
| Amounts falling duewithin oneyear | 9 | (20,965) | - | (20,965) | (17,772) | |
| NETCURRENTASSETS | 161,664 | - | 161,664 | 195,361 | ||
| os | TOTALASSETS LESS CURRENT | |||||
| LIABILITIES | 1,485,947 | - | 1,485,947 | 1,453,614 | ||
| CREDITORS | ||||||
| Amounts falling due aftermore than one year 10 | (37,217) | - | (37,217) | (44,119) | ||
| NETASSETS | 1,448,730 | - | 1,448,730 | 1,409,495 | ||
| FUNDS | 13 | |||||
| Unrestricted funds | 1,448,730 | 1,409,495 | ||||
| TOTALFUNDS | 1,448,730 | 1,409,495 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (6) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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These financial statements have been prepared in accordance with the provisions applicable to charitable
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The notes form part of these financial statements
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Sri Guru Singh Sabha Gurdwara Letchworth
Notes to the Financial Statements for the Year Ended 5 April 2025
- ACCOUNTING POLICIES
; :
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
Going Concern , The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland:
¢ the requirements of Section 7 Statement of Cash Flows.
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.
Fixtures and Fittings - 25% Reducing balance
Equipment - 25 % Reducing balance
The freehold property has been revalued during the year and therefore no depreciation has been included.
Taxation
The charity is exempt from corporation 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.
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Sri Guru Singh Sabha Gurdwara Letchworth
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ACCOUNTING POLICIES - continued
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Notes to the Financial Statements - continued for the Year Ended 5 April 2025
Fund accounting
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. .
Grant Income
Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
INVESTMENT INCOME
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|||||||
|---|---|---|---|---|---|
|2025|2024|
|£|£|
|Rents|received|70,614|54,046|
|Interest|receivable|44|41|
|70,658|54,087|
|NET|INCOME/(EXPENDITURE)|
|Net|income/(expenditure)|is|stated|after|charging/(crediting):|
|2025|2024|
|£|£|
|Depreciation|- owned|assets|6,281|2,574|
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4, TRUSTEES’ REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 5 April 2025 nor for the year ended 5 April 2024.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 5 April 2025 nor for the year ended 5 April 2024.
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Sri Guru Singh Sabha Gurdwara Letchworth
Letchworth . Notes to the Financial Statements - continued for the Year Ended 5 April 2025
- STAFF COSTS
i
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|---|---|---|---|---|---|---|---|---|
|2025|2024|
|£|£|
|Wages and|salaries|34,610|43,229|
|Other|pension|costs|1,035|1,292|
|35,645|44,521|
|The|average|monthly|number of employees|during|the|year was|as|follows:|
|2025|2024|
|Staff|2|2|
|No|employees|received|emoluments|in|excess|of £60,000.|
|6.|COMPARATIVES|FOR THE STATEMENT OF|FINANCIAL ACTIVITIES|
|Unrestricted|Restricted|Total|
|funds|funds|funds|
|£|£|£|
|INCOME AND|ENDOWMENTS|FROM|
|Donations|and|legacies|116,883|-|116,883|
|Investment|income|54,087|-|54,087|
|Total|170,970|-|170,970|
|EXPENDITURE|ON|
|Charitable|activities|
|Management|and|adminstration|122,022|-|122,022|
|NET INCOME|48,948|-|48,948|
|RECONCILIATION|OF|FUNDS|
|Total funds|brought|forward|1,360,547|-|1,360,547|
|TOTAL FUNDS CARRIED|FORWARD|1,409,495|-|1,409,495|
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Sri Guru Singh Sabha Gurdwara Letchworth
“
we
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
| 7. | TANGIBLE FIXED ASSETS | , | ||||
|---|---|---|---|---|---|---|
| Fixtures | ||||||
| Freehold property £ |
and fittings £ |
Equipment £ |
Totals £ |
|||
| COST OR VALUATION | ||||||
| At6 April 2024 | 1,250,000 | 37,248 | 34,089 | 1,321,337 | ||
| Additions Disposals |
- ~ |
72,311 (33,000) |
- - |
72,311 (33,000) |
||
| At 5 April 2025 | 1,250,000 | 76,559 | 34,089 | 1,360,648 | ||
| DEPRECIATION | ||||||
| At6 April 2024 | - | 36,386 | 26,698 | 63,084 | ||
| Charge foryear | - | 4,433 | 1,848 | 6,281 | ||
| Eliminated on disposal | - | (33,000) | - | (33,000) | ||
| At 5 April 2025 | - | 7,819 | 28,546 | 36,365 | ||
| NET BOOKVALUE | ||||||
| At 5 April 2025 | 1,250,000 | 68,740 | 5,543 | 1,324,283 | ||
| At 5 April 2024 | 1,250,000 | 862 | 7,391 | 1,258,253 | ||
| Cost or valuation at 5 April 2025 is represented by: | ||||||
| Fixtures | ||||||
| Freehold | and | |||||
| property £ |
fittings £ |
Equipment £ |
Totals £ |
|||
| Valuation in 2020 Valuation in 2021 |
(388,182) (118,893) |
- - |
- - |
(388,182) (118,893) |
||
| Valuation in 2022 | 39,717 | - | - | 39,717 | ||
| Valuation in 2023 | 50,000 | - | - | 50,000 | ||
| Cost | 1,667,358 | 76,559 | 34,089 | 1,778,006 | ||
| 1,250,000 | 76,559 | 34,089 | 1,360,648 |
At the end of the reporting period the property was restated to fair value based on an assessment made by the trustees. They have assessed the value of the property to be £1,250,000 (one million, two hundred and fifty thousand) as at 5 April 2025. The last external valuation was undertaken was during March 2022.
- DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Other debtors | 53,500 | 54,931 |
| Prepayments and accrued income | 1,871 | 1,838 |
| 55,371 | 56,769 |
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Sri Guru Singh Sabha Gurdwara Letchworth ©
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
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|---|---|---|---|---|---|---|---|---|---|
|9.|CREDITORS:|AMOUNTS|FALLING|DUE WITHIN|ONE YEAR|
|2025|2024|
|£|£|
|Bank|loans|and|overdrafts|(see|note|11)|6,903|5,621|
|Accruals|and|deferred|income|~|44,062|12,151|
|20,965|17,772|
|10.|CREDITORS:|AMOUNTS|FALLING|DUE AFTER MORE|THAN|ONE|YEAR|
|2025|2024|
|£|£|
|Bank|loans|(see|note|11)|37,217|44,119|
|11.|LOANS|.|
|An|analysis|of the|maturity|of|loans|is|given|below:|.|
|2025|2024|
|Amounts|falling|due|within|one|year on|demand:|
|Bank|loans|6,903|5,621|
|Amounts|falling|between|one|and|two|years:|
|Bank|loans|-|1-2|years|7,077|6,902|
|Amounts|falling|due|between|two|and|five|years:|
|Bank|loans|-|2-5|years|22,320|21,770|
|Amounts|falling|due|in|more|than|five|years:|
|Repayable|by|instalments:|
|Bank|loans|more5|yr by|instal|7,820|15,447|
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LEASING AGREEMENTS
Operating Leases - Lessor
Minimum lease payments under non-cancellable operating leases are receivable as follows:
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|---|---|---|---|---|---|---|
|2025|2024|
|£|£|
|Within|one|year|16,500|16,500|
|Between|one|and|five|years|9,625|26,125|
|.|
|26,125|42,625|
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Sri Guru Singh Sabha Gurdwara Letchworth
Notes to the Financial Statements- continued for the Year Ended 5 April 2025
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|)|
|MOVEMENT|IN|FUNDS|
|Net|
|movement|At|
|At|6.4.24|in|funds|5.4.25|
|£|£|£|
|Unrestricted|funds|
|General|fund|1,409,495|39,235|1,448,730|
|TOTAL|FUNDS|1,409,495|39,235|1,448,730|
|Net|movement|in|funds,|included|in|the|above|are|as|follows:|
|;|Incoming|Resources|Movement|
|’|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|180,858|(141,623)|39,235|
|TOTAL|FUNDS|180,858|(141,623)|39,235|
|Comparatives|for|movement|in|funds|
|Net|
|movement|At|
|At|6.4.23|in|funds|5.4.24|
|£|£|£|
|Unrestricted|funds|
|General|fund|1,360,547|48,948|1,409,495|
|TOTAL|FUNDS|1,360,547|48,948|1,409,495|
|Comparative|net|movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Movement|
|_|resources|expended|in|funds|
|.|£|£|£|
|Unrestricted|funds|
|General|fund|170,970|(122,022)|48|948|
|TOTAL FUNDS|170,970|(122,022)|48,948|
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13. MOVEMENT IN FUNDS
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Sri Guru Singh Sabha Gurdwara Letchworth
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
- MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
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|---|---|---|---|---|
|Net|
|movement|At|
|At|6.4.23|in|funds|5.4.25|
|£|£|£|
|Unrestricted|funds|
|General|fund|1,360,547|88,183|1,448,730|
|TOTAL|FUNDS|1,360,547|88,183|1,448,730|
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A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
o
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||||||
|---|---|---|---|---|
|||
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|351,828|(263,645)|88,183|
|TOTAL FUNDS|351,828|(263,645)|88,183|
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- RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5 April 2025.
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