REGISTERED CHARITY NUMBER: 1118356
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2021 for LONDON SIKH CENTRE (EALING)
Sagoo & Co Chartered Accountants 63 The Grove Ealing London W5 5LL
LONDON SIKH CENTRE (EALING)
Contents of the Financial Statements FOR THE YEAR ENDED 31 MARCH 2021
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 8 |
| Detailed Statement of Financial Activities | 9 |
LONDON SIKH CENTRE (EALING)
Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1118356
Principal address
Sawyers Lane Drayton Bridge Road West Ealing London W13 0JP
Trustees
RS Gidar GH Chada GS Gujral R S Ranger
Independent examiner
MR Sukhdev Sagoo , BSc . MSc , F.C.A I.C A E.W Sagoo & Co Chartered Accountants 63 The Grove Ealing London W5 5LL
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
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.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
............................................. Trustee
Page 1
Independent Examiner's Report to the Trustees of London Sikh Centre (Ealing)
I report on the accounts for the year ended 31 March 2021, which are set out on pages three to eight.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
My role is to state whether any material matters have come to my attention giving me cause to believe:
-
that accounting records were not kept as required by section 130 of the Act; or
-
that the accounts do not accord with those records; or
-
that the accounts do not comply with the accounting requirements of the Act; or
-
that there is further information needed for a proper understanding of the accounts.
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
MR Sukhdev Sagoo , BSc . MSc , F.C.A I.C A E.W Sagoo & Co Chartered Accountants 63 The Grove Ealing London W5 5LL
Date: .............................................
Page 2
LONDON SIKH CENTRE (EALING)
Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2021
| Unrestricted funds Notes £ INCOMING RESOURCES Incoming resources from generated funds Voluntary income 104,528 Activities for generating funds 2 - Total incoming resources 104,528 RESOURCES EXPENDED Costs of generating funds Costs of generating voluntary income 3 99,797 NET INCOMING RESOURCES 4,731 RECONCILIATION OF FUNDS Total funds brought forward 1,409,418 TOTAL FUNDS CARRIED FORWARD 1,414,149 |
Restricted fund £ - - - - - - - |
31.3.21 Total funds £ 104,528 - 104,528 99,797 4,731 1,409,418 1,414,149 |
31.3.20 Total funds £ 280,267 755 |
|---|---|---|---|
| 281,022 219,076 |
|||
| 61,946 1,347,472 |
|||
| 1,409,418 |
The notes form part of these financial statements
Page 3
LONDON SIKH CENTRE (EALING)
Balance Sheet AT 31 MARCH 2021
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 6 3,088,906 CURRENT ASSETS Debtors 7 3,172 Cash at bank and in hand (36,669) (33,497) CREDITORS Amounts falling due within one year 8 (109,665) NET CURRENT ASSETS/(LIABILITIES) (143,162) TOTAL ASSETS LESS CURRENT LIABILITIES 2,945,744 CREDITORS Amounts falling due after more than one year 9 (1,531,595 ) NET ASSETS 1,414,149 FUNDS 10 Unrestricted funds TOTAL FUNDS |
Restricted fund £ - - - - - - - - - |
31.3.21 Total funds £ 3,088,906 3,172 (36,669) (33,497) (109,665) (143,162) 2,945,744 (1,531,595 ) 1,414,149 1,414,149 1,414,149 |
31.3.20 Total funds £ 3,089,139 3,172 (2,776) 396 (108,816) (108,420) 2,980,719 (1,571,301 ) 1,409,418 1,409,418 1,409,418 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
Page 4
LONDON SIKH CENTRE (EALING)
Notes to the Financial Statements FOR THE YEAR ENDED 31 MARCH 2021
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
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% on reducing balance
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.
2. ACTIVITIES FOR GENERATING FUNDS
| Sundry income 3. COSTS OF GENERATING VOLUNTARY INCOME Behta and langar costs Support costs |
31.3.21 £ - 31.3.21 £ 11,575 88,222 99,797 |
31.3.20 £ 755 31.3.20 £ 41,882 177,194 |
|---|---|---|
| 219,076 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020 .
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020 .
Page 5
LONDON SIKH CENTRE (EALING)
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2021
5. STAFF COSTS
| 31.3.21 £ Wages and salaries 36,960 The average monthly number of employees during the year was as follows: 31.3.21 Employees - No employees received emoluments in excess of £60,000. 6. TANGIBLE FIXED ASSETS Freehold Fixtures and property fittings £ £ COST At 1 April 2020 and 31 March 2021 3,088,208 34,983 DEPRECIATION At 1 April 2020 - 34,052 Charge for year - 233 At 31 March 2021 - 34,285 NET BOOK VALUE At 31 March 2021 3,088,208 698 At 31 March 2020 3,088,208 931 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.21 £ Other debtors 3,172 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.21 £ Bank loans and overdrafts 101,316 Trade creditors (1) Other creditors 8,350 109,665 |
31.3.20 £ 57,890 31.3.20 7 Totals £ 3,123,191 |
31.3.20 £ 57,890 31.3.20 7 Totals £ 3,123,191 |
31.3.20 £ 57,890 |
|---|---|---|---|
| 34,052 233 |
|||
| 34,285 | |||
| 3,088,906 | |||
| 3,089,139 | |||
| 31.3.20 £ 3,172 31.3.20 £ 103,966 - 4,850 |
|||
| 108,816 |
Page 6
LONDON SIKH CENTRE (EALING)
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2021
9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| Bank loans Other creditors Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal Repayable otherwise then by instalments: Interest free loan 10. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted Funds General fund TOTAL FUNDS |
31.3.21 31.3.20 £ £ 1,120,095 1,159,801 411,500 411,500 1,531,595 1,571,301 714,831 743,936 411,500 411,500 Net movement At 1.4.20 in funds At 31.3.21 £ £ £ 1,409,418 4,731 1,414,149 1,409,418 4,731 1,414,149 Incoming Resources Movement in resources expended funds £ £ £ 104,528 (99,797) 4,731 104,528 (99,797) 4,731 Net movement At 1.4.19 in funds At 31.3.20 £ £ £ 1,347,472 61,946 1,409,418 1,347,472 61,946 1,409,418 |
31.3.20 £ 1,159,801 411,500 |
31.3.20 £ 1,159,801 411,500 |
|---|---|---|---|
| 1,571,301 | |||
| 743,936 411,500 At 31.3.21 £ 1,414,149 |
743,936 | ||
| 411,500 | |||
| 1,414,149 | |||
| 1,409,418 | |||
| 1,409,418 | |||
Page 7
LONDON SIKH CENTRE (EALING)
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2021
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement in | |
|---|---|---|---|
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 281,022 | (219,076) | 61,946 |
| TOTAL FUNDS | 281,022 | (219,076) | 61,946 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At 1.4.19 in funds £ £ 1,347,472 66,677 1,347,472 66,677 |
At 31.3.21 £ 1,414,149 |
|---|---|---|
| 1,414,149 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement in | |
|---|---|---|---|
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 385,550 | (318,873) | 66,677 |
| TOTAL FUNDS | 385,550 | (318,873) | 66,677 |
Page 8
LONDON SIKH CENTRE (EALING)
Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2021
| INCOMING RESOURCES Voluntary income Gifts Donations Gift aid Activities for generating funds Sundry income Total incoming resources RESOURCES EXPENDED Costs of generating voluntary income Behta and langar costs Support costs Management Wages Rates and water Insurance Light and heat Telephone Cleaning Expenses Laundry expenses Legal fees Repairs & renewals Depn -Fixt & Fitts Refuse expense Donation JS Uppal Foundation Sikh Channel-donation Professional Fess Finance Bank charges Bank interest Bank loan interest Other Sundries Total resources expended Net income |
31.3.21 £ 2 90,599 13,927 104,528 - 104,528 11,575 36,960 3,120 - 12,452 1,529 1,513 336 8,656 2,286 233 - - 612 750 68,447 564 1,378 16,806 18,748 1,027 99,797 4,731 |
31.3.20 £ 2 269,074 11,191 |
|---|---|---|
| 280,267 755 |
||
| 281,022 41,882 57,890 487 2,450 21,737 1,925 5,693 1,067 - 48,477 311 3,510 3,450 612 750 |
||
| 148,359 563 23 26,062 |
||
| 26,648 2,187 |
||
| 219,076 | ||
| 61,946 |
This page does not form part of the statutory financial statements
Page 9