REGISTERED CHARITY NUMBER: 1118356
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2022
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 2022
| 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 | 10 |
| Detailed Statement of Financial Activities | 11 |
LONDON SIKH CENTRE (EALING)
Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2022
The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. 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.
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
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)
Independent examiner's report to the trustees of London Sikh Centre (Ealing)
I report to the charity trustees on my examination of the accounts of London Sikh Centre (Ealing) (the Trust) for the year ended 31 March 2022.
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 - matters of concern identified
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of I.C A E.W which is one of the listed bodies.
I have completed my examination.
The bookkeeping systems and records are not satisfactory to reflect a complete audit trail of the transactions , however the trustees have agreed to improve the systems in line with our recomendations.
I confirm that no other matters have come to my attention that give me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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 confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
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 2022
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Raising funds 2 NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 302,945 185,583 117,362 1,414,149 1,531,511 |
Restricted fund £ - - - - - |
31.3.22 Total funds £ 302,945 185,583 117,362 1,414,149 1,531,511 |
31.3.21 Total funds £ 104,528 99,797 |
|---|---|---|---|---|
| 4,731 1,409,418 |
||||
| 1,414,149 |
The notes form part of these financial statements
Page 3
LONDON SIKH CENTRE (EALING)
Balance Sheet 31 MARCH 2022
| Notes FIXED ASSETS Tangible assets 6 CURRENT ASSETS Debtors 7 Cash at bank and in hand CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 9 NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
Unrestricted funds £ 3,088,732 3,172 49,330 52,502 (110,316) (57,814) 3,030,918 (1,499,407 ) 1,531,511 |
Restricted fund £ - - - - - - - - - |
31.3.22 Total funds £ 3,088,732 3,172 49,330 52,502 (110,316) (57,814) 3,030,918 (1,499,407 ) 1,531,511 1,531,511 1,531,511 |
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 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue 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 2022
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.
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% 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.
Page 5
continued...
LONDON SIKH CENTRE (EALING)
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2022
2. RAISING FUNDS
Raising donations and legacies
| Behta and langar costs Support costs |
31.3.22 £ 72,107 113,476 185,583 |
31.3.21 £ 11,575 88,222 |
|---|---|---|
| 99,797 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
5.
| Employees No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Raising funds NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
ACTIVITIES Unrestricted funds £ 104,528 99,797 4,731 1,409,418 1,414,149 |
31.3.22 5 Restricted fund £ - - - - - |
31.3.21 6 Total funds £ 104,528 99,797 |
||
|---|---|---|---|---|---|
| 4,731 1,409,418 |
|||||
| 1,414,149 |
Page 6
continued...
LONDON SIKH CENTRE (EALING)
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2022
| 6. TANGIBLE FIXED ASSETS Fixtures Freehold and property fittings £ £ COST At 1 April 2021 and 31 March 2022 3,088,208 34,983 DEPRECIATION At 1 April 2021 - 34,285 Charge for year - 174 At 31 March 2022 - 34,459 NET BOOK VALUE At 31 March 2022 3,088,208 524 At 31 March 2021 3,088,208 698 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.22 £ Other debtors 3,172 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.22 £ Bank loans and overdrafts (see note 10) 101,316 Trade creditors - Other creditors 9,000 110,316 9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.3.22 £ Bank loans (see note 10) 1,056,257 Other creditors 443,150 1,499,407 |
Totals £ 3,123,191 34,285 174 34,459 3,088,732 3,088,906 31.3.21 £ 3,172 31.3.21 £ 101,316 (1) 8,350 109,665 31.3.21 £ 1,120,095 411,500 1,531,595 |
|---|---|
continued...
Page 7
LONDON SIKH CENTRE (EALING)
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2022
10. LOANS
An analysis of the maturity of loans is given below:
| Amounts falling due within one year on demand: Bank loans Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal Repayable otherwise than by instalments: Interest free loan 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 |
At 1.4.21 £ 1,414,149 1,414,149 Incoming resources £ 302,945 302,945 |
31.3.22 £ 101,316 101,316 303,948 650,993 443,150 Net movement in funds £ 117,362 117,362 Resources expended £ (185,583) (185,583) |
31.3.21 £ 101,316 101,316 303,948 714,831 411,500 At 31.3.22 £ 1,531,511 |
31.3.21 £ 101,316 |
|
|---|---|---|---|---|---|
| 101,316 | |||||
| 303,948 | |||||
| 714,831 411,500 |
|||||
| 1,531,511 | |||||
| Movement in funds £ 117,362 117,362 |
|||||
| 117,362 |
11. MOVEMENT IN FUNDS
continued...
Page 8
LONDON SIKH CENTRE (EALING)
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2022
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.20 £ 1,409,418 1,409,418 |
Net movement in funds £ 4,731 4,731 |
At 31.3.21 £ 1,414,149 |
|---|---|---|---|
| 1,414,149 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 104,528 104,528 |
Resources Movement expended in funds £ £ (99,797) 4,731 (99,797) 4,731 |
Resources Movement expended in funds £ £ (99,797) 4,731 (99,797) 4,731 |
|---|---|---|---|
| 4,731 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.20 £ 1,409,418 1,409,418 |
Net movement in funds £ 122,093 122,093 |
At 31.3.22 £ 1,531,511 |
|---|---|---|---|
| 1,531,511 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 407,473 407,473 |
Resources Movement expended in funds £ £ (285,380) 122,093 (285,380) 122,093 |
Resources Movement expended in funds £ £ (285,380) 122,093 (285,380) 122,093 |
|---|---|---|---|
| 122,093 |
continued...
Page 9
LONDON SIKH CENTRE (EALING)
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2022
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
Page 10
LONDON SIKH CENTRE (EALING)
Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2022
| 31.3.22 | 31.3.21 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | - | 2 |
| Donations | 302,945 | 90,599 |
| Gift aid | - | 13,927 |
| 302,945 | 104,528 | |
| Total incoming resources | 302,945 | 104,528 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Behta and langar costs | 72,107 | 11,575 |
| Support costs | ||
| Management | ||
| Wages | 53,925 | 36,960 |
| Rates and water | 325 | 3,120 |
| Light and heat | 16,048 | 12,452 |
| Telephone | 605 | 1,529 |
| Cleaning Expenses | 2,808 | 1,513 |
| Laundry expenses | 176 | 336 |
| Legal fees | - | 8,656 |
| Repairs & renewals | 12,945 | 2,286 |
| Depn -Fixt & Fitts | 175 | 233 |
| Sikh Channel-donation | - | 612 |
| Donations | 5,712 | - |
| Professional Fess | 850 | 750 |
| 93,569 | 68,447 | |
| Finance | ||
| Bank charges | 120 | 564 |
| Bank interest | 300 | 1,378 |
| Bank loan interest | 16,964 | 16,806 |
| 17,384 | 18,748 | |
| Other | ||
| Sundries | 2,523 | 1,027 |
| Total resources expended | 185,583 | 99,797 |
| Net income | 117,362 | 4,731 |
This page does not form part of the statutory financial statements
Page 11