GURDWARA GRAYS (SIKH TEMPLE) FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS OF THE ACCOUNTS Pdge Report rf the Trustees ::.: . statement of Financial Activttxes Balance Sheet 10 Notes to the Financial Statements
' Reglstered Charity Number. 1123363 Gurdwara Grays (Sikh Temple) Report and Financial Statements For The Year Ended 31 March 2024
GURDWARA GRAYS (SIKH TEMPLE) FOR THE YEAR ENDED 31 MARCH 2024 CHARifY INFORMATION Trustees Date of Role ointment Chair 28-Aug-22 Trustee 28-Aug-22 Trustee 28-Aug-22 Trustee 2&Aug-22 Trustee . 24-Apr-22 Trustee ' 24Apr-22 Trustee 24-Apr-22 Trustee 24-Apr-22 Trustee 24Apr-22 Trustee 24-Apr-22 Trustee 24-Apr-22 Trustee 24-Apr-22 Trustee 24-Apr-22 Trustee 24-Apr-22 Trustee 24-Apr.22 Trustee 24-Apr-22 Trustee 2ékApr-22 Name Jasvinder Jassel Jaswnder Singh Dhillon Kewal Singh Dhillon Gurvir Singh Atkar Kanwaljit Singh Bal Mohan Singh Virk Ranjit Singh Virdi Gurdip Singh Dhillon Jaswinder Singh Johal Raghuvendra Singh Gian Singh Nahal Gurbakhsh Kaur Sangha Dalbir Duhra Baljinder Kaur HaThinder Kaur Kalar HaEiinder Singh Dhillon Balvinder Singh Rayat Registered charity number 1123363 Company Secretsry Raghuvendra Singh Principal and registered office 66 Maidstone Road Grays Essex RM176NF Accountsnts Qazi & Son's Accountant Ltd Chartered & Certified Accountant 01103 Jewel Road. Walthamstow, London. E17 4QX Bankers Natwest 17 High Street, Grays, Essex RM17 6NP
GURDWARA GRAYS (SIKH TEMPLE) FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES, REPORT STRUCTURE. GOVERNANCE AND MANAGEMENT The charity operates according to its constitution, wherein Trustees are elected every two years to oversee general control and management. Serving voluntarily, Trustees do not receive financial compensation and convene monthty to address organizats.onal matters. Holding Trustees offer guidan and seek membership approval for signfficant projects, strategies, and policies. The Management Committee oversees daily operations, reserves, risk management, partnerships, performance, and administration. Trustees collaborate with the Committee to ensure efficient govemance and decision-makn'ng processes. TRUSTEES INDUCTION AND TRAINING Our charity's Trustees have dedicated years to serving the Sikh (xjmmunty and possess a deep understanding of our organiz*ion's mission and value& Welcoming new Trustees. we encourage them to familiarize themselves with our charity and its operations to facilitate active engagement and the sharing of expertise. We provÉde comprehensive training and support to all Trustees, ensuring they have access to the information and resoUrS necessary to fulfill their responsibilities effectively.. VOLUNTEERS We express our deepest gratitude to the numerous volunteers who generously dedicate their time and energy to advancing our mission. These altruistic individuals play integral roles in every fat of our service delivery and Gurdwara operations, from meal preparation to religious ' ceremonies. While their contributions defy monetary quantification. we acknowledge their indispensable role in the functionality of our charity. We are committed to maximizing the value derived from our volunteers, efforts and wholeheartedly appreciate their unwavering dedication and support. RISK MANAGEMENT Our TNstees o)nsistenUy assess the potential risks confronting the charity. They are confident in the efficacy of our risk monitoring and control systems, which effectively mitigate any potential adverse impacts on the charity. We maintain robust intemal financial controls, with a readiness to engage professional guidance when necessary to establish systems and pror2dures for risk management. This approach provides reasonable assurance against fraud and efft)rs. ensuring the safeguarding of the charity's interests. OBJECTIVES AND ACTIVITIES Central to our organization is our dedication to advancing Sikhism and upholding the values of our community. To realize this objective, we commemorate all Gurpurabs observe weekly and monthly religious occasions, and conduct engagem&nt and wedding ceremonies. We take great pride in offering religious services to the Sikh
GURDWARA GRAYS {SIKH TEMPLE) FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES. REPORT (CONTINUED) community and consider it a prtvilege to participate in their significant life events. Additionally. we extend our services to fvnerals, providing solace and assistan to grieving families during their times of sorrow. We firmty believe that through these activities. we fvlfill our mission to serve the Sikh communty and propagate the teachings of Sikhism. PUBLIC BENEFIT Our foremost priority is to deliver a public benefft through our initiatives. The guidance pmvided by the Charity Commission has been integral to shaping our objectives and future strategies, ensuring alignment with best practices. Notsble successes indude the weekly Divians organized by. the Istri Sabha and the highly regarded Sukhmani Sahib programs. Our Panjabi School plays a pivotal role in promoting culture and language, while edu(xtional tours cater to local students, fostering cross-cultural understsnding. Additionally, our community hall seNes as a venue for various organizations, further underscoring our commstment tr) public welfare. ACHIEVEMENTS AND PERFORMANCE This year, we achieved all set objectives, seNing the Sikh community and promoting Sikhism's teachings. Our Gurdwara provided regular worship services for Slkhs and nOnIkhS, obseNed Sikh festivals, and conducted important rites. These efforts contribute to bo1h our worshipers. well-being and the broader communty. We extend heartfelt thanks to our dedicated volunteers and generous donors whose unwavering sUPPOrt drives our continued success in serving our community.
GURDWARA GRAYS (SIKH TEMPLE) FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES. REPORT (CONTINUED) FINANCIAL REVIEW The Twstees ensure that the nUal retum and fCial statenEnts are filed by the due date. During the year 2023-24 the followings are reported". Donation Income £188.189, which included Rental inrne £64, 125. Rev. Expenditure £100,297. this indudes accrual of £1500. This excess of revenue rewlted in intyease reserve of £87,892. Natwest Bank Cumt accoun( Lloyds Bank and Cash in hand totakd to £205,583. Property at 62 Maidstone Road is rented (xrt to NHS for £51,3CK) per annum. Lease temi Is under review. RESERVES POLICY Dependent on dOnatiS and offerings fmm Ihe Sangat (puNic}, the tharity ensures adequate resources to sustain its acfvDes arKI fulfill L4)Iigations. given Ihe fiu(auating nalure of contributions. To achieve this, Trustees w10rze maintaining an apKwriate level of liquid funds. PLANS FOR FURTHER PERIODS The charity aniicipates no significant changes to its core a1VIeS and remains dedicated to improving its facIlleS to serve both the Sikh community and the broader local population. We are finnly cornmitted to promoting the Sikh faith within the local communty and continuing to extend support to those in need. Year Ended 31 March 2024 (Presldent) ,SiO4 H L/i£Y GS Nahal (Cashler) Slgned by the Trustees
GURDWARA GRAYS (SIKH TEMPLE) FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES. REPORT (CONTINUED) Reference and administrative Details England and Wales Charrty Number. Registered Offi. 1123363 66 Maidstone Road .: Grays Essex RM17 6NF Our advisors Accountants Qazi & Son's AcGountsnt Ltd Chartered & Certrfied A(xountant 01103 Jewel Road, Walthamstow, London, E17 4QX Bankers 17 High Street, Grays, . Essex ..RM17 6NP
GURDWARA GRAYS (SIKH TEMPLE) FOR THE YEAR ENDED 31 MARCH 2024 INDEPENDENT EXAMINER S. REPORT TO THE TRUSTEES OF GURDWARA GRAYS (SIKH TEMPLE) I report on the accounts for the year ended 31 March 2024 set out on pages Ten to Seventeen. Respectlve responsibllltles of trustees and examiner The charity's trustees a responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and Ihat an independent examination is required. It is my responsibilty to.. examine the accounts under Section 145 of the 2011 Act to follow the wocedures laid down in the General Directions given by the , Charty Commission (under Section 145(5)(b) of the 2011 Act), and to state whether particular matters have come to my atteIon. Basls of the independent examlnerfs report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. tt also includes consideration of any unusual items or disclosures in the acc(nts, and seeking explanations fTom you as trustees conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequentty no opinion is given as to whether the accounts present a 'true and lair view ' and the report is limrted to those matters set out in the statements below. Independent examinerfs ststement In conneclion with my examination, no matter has CO to my attention: (1) wthich gives me asOnable cause to believe that, in any material respect, the requirements to keep accounting records in acdanCe with Section 130 of the 2011 Act. and to prepare accounts vknich ac vitth the acclnts recdS arKI to c(Knply wilh the accounting requirenmis of Ihe 2011 Aci have not been met: or (2) to which, in my opinion. attention shoukl be dra in ¢xder to enable a understanding of the accounts to be reached. Qazi & Son's Accountant Ltd Chartered & Clffled Ac£ountsnt 01103 Jewel Road, Watthamstow, London. E17 4QX
GURDWARA GRAYS {SIKH TEMPLE) FOR THE YEAR ENDED 31 MARCH 2024 STATEMENT OF FINANCIAL ACTIVITIES Notes Unrestricted 2024 Funds Total 2023 Total Income Donations Donations and grants 124,064 124.064 108,334 Other income 64,125 188,189 188,189 64,125 42,618 Total income 150,952 Expenditure Expenditure on charitable activities Total expenditure 100,297 100.297 84.929 100,297 100.297 84.929 Net Income before taxation 87.892 87.892 66.023 Taxation (charge)I credit Net movement in funds 87,892 87.892 66.023 Non Distributable Reserve brought forward at 01 April 2023 Total funds brought forward Total funds carried forwdrd at 31 March 2024 371,409 371,409 371,409 298.052 669,461 298,052 210,160 669.461 581,569
GURDWARA GRAYS (SIKH TEMPLE) FOR THE YEAR ENDED 31 MARCH 2024 BALANCE SHEET Notes 2024 Total 2023 Total Fixed assets Tangible assets 465.378 465,378 465,378 465,378 Current assets Debtors Cash at bank and in hand 205.583 670,961 116,911 582,289 Creditors: Amounts falling due within one year Net Current assets 1,500- 72(k 581,569 Reserves Non Distributable ReseThe ,. . . . Distrirtable ReseNes Total funds 371,409 298,052 669,461 371,409 210,160 581,569 The financial statements were approved by the board on by: and signed on their behalf Trustee Trustee Charlty reglstratlon number: 1123363 io
GURDWARA GRAYS (SIKH TEMPLE) FOR THE YEAR ENDED 31 MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS . Accounting policies The principal accounting policies adopted, judgements arKI key sources of estimation uncertainty in the preparation of the financial statements are as follows: Company inforn)ation The charity is registered in England and Wales wilh the Charity Commission. The registered office is 66 Maidstone Road. Grays Essex. RM17 6NF. If upon winding up or dissoluiion of the chaiity there remain any assets. after satisfying all debts and liabilities, the assets represented by the accumulated fvnd shall be transferred to some other charitable body or bodies having objectives similar to the Chaiity. 1.1. Accounting convention . The financial statements have been prepared on a going conrn basis in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance wtth the Financial Reporting Standard applicable in the UK (FRS102) (effective 1 April 2015) ('Charities SORP (FRS102)"). the Financial Reporting Standard applicable in the UK (FRS 102), the Companies Act 2(106 and the Charities Act 2011. Gurdwara Grays (Sikh Temple) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are inttially recognised at cost or transaction value unless othepwise stated in the relevant accounting policy notes. On the grounds that the chaiity comes under the.definttion of small tharities the chaiitable company has taken advantage of certain exemptions confwred by seGlion 1.11 of FRS102 as follows: Exempb'on from disclosing the carying amourrts of each category of financial assets and finanaal liabiltties at the reporting date as required by seclion 11.41 of FRS 102. Exemption from presenting. a charitable company statement of cash ficmis as a primary statement to the finanaal Statements. 1.2. Going concern The Trustees have at the time of approving the finanaal statements a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable fijture. In addition, the Trustees have no intention to wind the company up in the foreseeable future. It is considered that there are currently no material unrtaint[eS which impact on the charity being able to continue in its CUFTent fonn. Thus the Trustees continue to adopt the going concem basis of accounting in preparing the financtal statements. 1.3. Income Income is recognised when the charity has entitlement to the fvnds, any perfOnanCe condiiions attaching to the item(s) have been mec it is probable that the income will be received and the amount can be measured reliably. Income from grarrts is recognised when the tharity has entitlement to the fijnds. any pWf0Fman condibons have been meL it is probable that the income wtll be received and the amount C2n be measured lIablY. Where grant incorne has IEen reIVed. txjt the charity has not matched the con(rrtions to become entitled to the income. an income deferral is made. 11
GURDWARA GRAYS (SIKH TEMPLE) FOR THE YEAR ENDED 31 MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) Donated goods and services Donated professional services and faalities are recognised as income when the charity has control over item, any conditsons associated with the donated item have been met, the receipt of e(>Jnomic benefit from use of the item is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS102), the value of volunte8r time is not regnISed in the financial statements. On receipt. donated professional services and donated facilrties are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on Ihe open markeL a corresp(ding amnI is recognised in expenditure in the period of receim. Income from goods donated for sale in the tharftKs shops is recognised at the poinl of sale. As a result of the high volume of low value donated goods received by the chanty, the cost of recognising these items at fair value on receipt would oue1gh the benefft of recognising them in the accounts. Investment Income Interest on funds held on deposit is induded when receivable and the amount can be measured rellably by the charity; this is normally upon notification of interest paid or payable by the Bank. Rents from letting of charity hall are induded when they are receivable by the charity. 1.4. Fund accountlng Unrestricted funds a funds which are available for use at the discretion Of the Trustees in furtherance of the general obj'ectives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in acCOrdar with specrfic StriCtIonS imposed by donors or which have been raised by the Charity for a particular purpose. Tnjstees have not classified any funds received as restricted till now. 1.5. Expendlture All expenditure is accounted for on an accruals basis and has been classified under h6adings that aggregatg all costs rdated to the category. Where costs cannot be directly attributed to particular headings they have been apportioned on a basis consistent with the usè of the resources. The cost of raising funds includes fundraising rfent costs, dlrect campaigns, general infomiation and public rektion costs and their associated sUprt Costs. Expenditure on charitable actsvities reiaies to grants awarded and associated support costs. Irrecoverable VAT is charged as a cost against Ihe activity for which 8xperKliture was incurred. 1.6. Allocauon of support costs Support costs are those functions that assist the worff of the charity but do not directly undertake charitable actlvities. Support costs Include administratson, finan. human resources, information systems arMJ govern8n costs which support the servic8s pfovFded to beneficiaries. These costs have been allocated between the costs of raising funds and expenditure on charitable activities on the basis set out in note 4. 12
GURDWARA GRAYS (SIKH TEMPLE) FOR THE YEAR ENDED 31 MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 1.7. Staff Cost The costs of short-tem employee benefits are recolSed as 3 liability and an expense where settlement of obligations does not fall with¥n the same period 1.8. Tangible fixed assets Fed assets are induded on a historical cost basis. tt is a policy of the trustees that in(fvidual items with a cost below £300 are not Capitalised. 1.9. Cash at bank and in hand C8sh at bank and cash in hand indudes cash and short term highly liquid investments with a short maturity hel(J for working capttal. Bank overdrafts a shown within borrowing in current liabilities. 1.10. Taxation Gurdwara Grays (Sikh Temple) is a registered tharrty and as such is a charity within the meaning of schedule 6 of the Finan Act 2010. Accordingly. the Charity is potentially entitled to tax exemption under Part 11 of the Cotporation Tax Act 2010 or sectton 256 of the Taxation of Chargeable Gains Act 1992 in respect of income and gains arising. 2. Allocatlon of support costs Support costs are allocated betsveen the various adiviknes of the charity based on an estimate by management of time spent by employees on each activity. Some employees have roles which SUPPOrt more than one actiwty. The aiiocation of these costs are considered to be critical to the accounts because ey have the ability to materially alter the allocation of costs btheen expenditure on raising funds and expenditure on diaritable actIvie$. 13
GURDWARA GRAYS (SIKH TEMPLE) FOR THE YEAR ENDED 31 MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 3. Income UnresCted Total Income 2024 . Total 2023 Donatlons and non-perforniance grant Donats"ons ReiVed Uk Govt Grants (Rent) 124,064 124.064 64,125 64.125 188,189 188,189 108,334 42,618 150,952 4. Analysls of expendltures Expendtture on charttable actlvftles: Dlrect Allocated Total Total 2023 2024 Worship Provision of Food General overheads 52,725 19,629 3,913 52,725 19,629 27,943 44,647 16,621 23,661 24,t130 76,267 24,030 100,297 84.929 Total expendlture 76,267 24,030 100297 14
GURDWARA GRAYS (SIKH TEMPLE) FOR THE YEAR ENDED 31 MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 4. Support Costs Support costs in the current year have b*n allocated based on an estimate, by m8nagemert employment costs are based on ts.me spert by employees contributing to each activity. Support costs have been aiiocated as follows. Employment Premises Administration costs costs Total 2024 Totsl 2023 Education, Skill developrnent FoodlDrink 8.819 6,042 9.170 24.031 20,349 8.819 6,042 9.170 24,031 20,349 5. Information regarding trustses and employees staff costs comprise 2024 2023 Wages and salaries Social security costs 34,936 25.153 Total employment costs 25,153 6. Taxation The charitable activities of Guthara Grays (Sikh Temple) are exempt from taxation under Ch'apter 3 of part 11 of the Corporation Tax Act 2010. 15
GURDWARA GRAYS (SIKH TEMPLE) FOR THE YEAR ENDED 31 MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 7. Flxed Assets Land & Buildings Total 01-Apr-23 . Additions 31-Mar-24 465,378 465,378 465,378 465,378 Net book values 31-Mar-24 .. 31-Mar-23 465,378 465,378 465,378 465,378 8. Credltors - Amounts falllng due wlthln one year Total 2024 Total 2023 Other Creditors 1,500 720 1.500 720 9. Post balance sheèt events There are no post balance sheel events to repcrt 10. Charlty results No separate Statement of Firkgncial Aciiwfres Inc4)me and Expw*Jiture Account) has been reported for the Chariiy alone as perTnitte(I by secliffl 408 of Ihe CompaThes Act and Paragraph 397 of Charities SORP (FRS102). The income of the Charity for the year was £185,089 (2023 - £150,952) Expenditure amounted to £100,297 {2023 £84,929). The net deficiusurplus for tt)e year was £84.792 {2023- £66.023). 11. Related paty transactions There was no related party transaction to report in 2024 (2023; NIL) 16