SHRI GURU RAVIDASS GURDWARA GRAVESEND TRUSTEES' REPORT AND ACCOUNTS YEAR ENDED 28TH FEBRUARY 2023
CHARITY REGISTRATION NO; 1127008
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SHRI GURU RAVIDASS GURDWARA GRAVESEND FINANCIAL STATEMENTS YEAR ENDED 28TH FEBRUARY 2023
| CONTENTS | PAGE |
|---|---|
| LEGAL AND ADMINISTRATIVE INFORMATION | |
| 1 | |
| REPORT OF THE TRUSTEES | 2-3 |
| REPORT OF THE INDEPENDENT EXAMINERS | 4 |
| STATEMENTS OF FINANCIAL ACTIVITIES | 5 |
| BALANCE SHEET | 6 |
| NOTES TO THE FINANCIAL STATEMENTS | 7-10 |
| INCOMEANDEXPENDITURE | 11 |
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SHRI GURU RAVIDASS GURDWARA GRAVESEND LEGAL AND ADMINISTRATIVE INFORMATION YEAR ENDED 28TH FEBRUARY 2023
CHARITY REGISTRATION NUMBER;
1127008
REGISTERED OFFICE:
26A Brandon Street Gravesend Kent
DA11 OPL
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TRUSTEES:
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Mr Harbhajan Singh (Chairman) Mr Sadhu Ram Mr Harri Ram Rull
Mr Gurdass Ram
Mr Rana Rai
Mr Thakar Ram
ACCOUNTANT
New Bond Accountants Church, Charity and Business Advisors 4a-6a Hythe Street Dartford Kent DA1 1BX
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SHRI GURU RAVIDASS GURDWARA GRAVESEND REPORT OF THE TRUSTEES YEAR ENDED 28TH FEBRUARY 2023
The trustees present their report with the financial statements of the charity for the year ended 28th February 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities!
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.
OBJECTIVES AND ACTIVITIES
The Charity’s objects are:
- Advance the teaching of Shri Guru Ravidass Ji and the Sikh religion (from the holy book) among the residents of the area to benifit by providing the furnishings a place of worship and secondly to relieve - In order to fullfill the above objectives only, Shri Guru Ravidass Gurdwara shall have the following powers:
The main activities in relation to these objects are:
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(a) To arrange marriage ceremonies in accordance with Sikth faith and according To the current laws of England and Wales
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(b) To celebrate gurpurbs (births anniversaries of gurus) in clause 5 (1),
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(c) To give financial aid to chritable organisations up to a maximum of £250 in Europe. Any contribution or financial aid in excess of the £250 maximum should be decided only through a meeting and agreement of the general body. Any financial aid to charirable organisations for India should only be decided by a meeting and agreement of the general body (only for Shri Guru Ravidass Gurdwara).
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(d) To provide facilities for a library, educational facilities, reading room and Punjabi school.
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(e) To bring co-operation, brother hood, love and unity in the community
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(f) Shri Guru Ravidass Gurdwara shall open for worshippers and donations at-least 12 hours a day and 24 hours for special functions
The Charity through the trustees seek to ensure that all grants made are in keeping with the objects as is stipulated in the Governing document and those grants are used for such purposes through monitoring and
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SHRI GURU RAVIDASS GURDWARA GRAVESEND REPORT OF THE TRUSTEES YEAR ENDED 28TH FEBRUARY 2023
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; - preparethe financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The trustees are responsible for keeping proper accounting records which 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 Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019) Charities Act 2011, and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
FINANCIAL REVIEW
In the twelve months under review, total Income was £77,794; (2022: £80,365) and total expenditure was £63,243; (2022: £65,164)
Net results for the year were £14,551; (2022: £15,200) and carries forward funds of £624,679.
RESERVES
The Trustees believes that unrestricted funds which have not been designated for a specific use should be maintained so that in the event of a significant drop in funding, they will be able to continue the Charity’s activities and are working towards achieving reserve levels of three to six months of running costs.
GOING CONCERNS
At the tme of approving the accounts, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees’ continue to adopt the going concerns basis of accounting in preparing the accounts.
Approved by the Board of Trustees and signed on its behalf by
ON BEHALF OF THE BOARD:
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WiLAL G
Cremer a . na nene
Secretary
Date: /)/2./202%
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SHRI GURU RAVIDASS GURDWARA GRAVESEND REPORT OF THE INDEPENDENT EXAMINERS YEAR ENDED 28TH FEBRUARY 2023
| report on the accounts for the year ended 28th February 2023 set out on pages five to ten.
Respective responsibilities of trustees and examiner
The charity's trustees (who are also the directors for the purposes of company law) are 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 that an independent examination is required.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- examine the accounts under Section 145 of the 2011 Act
~ to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
- to state whether particular matters have come to my attention.
Basis of the independent examiner's 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, It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters, The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view ' and the report is
Independent examiner's statement
In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that, in any material respect, the requirements - to keep accounting records in accordance with Section 130 of the 2011 Act
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts ‘to be reached.
Omowunmi Shitta, FCCA
New Bond Accountants
Church, Charity and Business Advisors 4a-6a Hythe Street
Dartford
Kent DA1 1BX Date:
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SHRI GURU RAVIDASS GURDWARA GRAVESEND STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 28TH FEBRUARY 2023
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|---|---|---|---|---|---|
|INCOMING RESOURCES|Notes|Unrestricted|2023|2022|
|Incoming|resources from|generated|funds|
|Voluntary|Income|2|77,794|77,794|80,364|
|RESOURCES|EXPENDED|71.194|72.794|80,364|
|Cost of generating|voluntary|income|
|Charitable|Activities|3|24,053|24,053|27,926|
|Governance|Costs|4|0|0|1,974|
|Management|Costs/Suppot Costs|5|39.190|39,190|35,264|
|TOTAL RESOURCES EXPENDED|83,243|63.243|§5.164|
|NET|INCOME/EXPENDITURE|FOR THE YEAR|£14,551|£14,551|£15,200|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought forward|610,128|610,128|594.92:|
|TOTAL FUND CARRIED FORWARD|£624,679|£624,679|£610,128|
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None of the charity's activities were acquired or discontinued during the year and there were no ecognised gains and losses for 2023 or 2022 other than those included in the statement of financial activities
The notes on pages 7 to 10 form part of these accounts.
SHRI GURU RAVIDASS GURDWARA GRAVESEND 6 BALANCE SHEET YEAR ENDED 28TH FEBRUARY 2023
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|Notes|2023|2022|
|FIXED ASSETS|:|
|Tangible assets|7|£515,296|£527,316|
|CURRENT ASSETS|
|Cash at bank and in hand|£110,823|£83,498|
|CREDITORS|
|Amounts|falling due within one year|8|(£1,440)|(£686)|
|NET CURRENT ASSETS|£109,383|£82,812|
|TOTAL ASSETS LESS CURRENT LIABILITIES|£624,679|£610,128|
|NET ASSETS/(LIABILTIES)|£624,679|£610,128|
|FUNDS:|
|Unrestricted Funds|9|£624,679|£610,128|
|TOTAL FUNDS|£624,679|£610,128|
|The financiaj statements were approved by the Board of|Trustees on|i3/4Pa5vee Nd Were|
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signed on its behalf by:
Mr Rana Rai Date: jj - Ze2t
The notes on pages 7 to 10 form part of these accounts.
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SHRI GURU RAVIDASS GURDWARA GRAVESEND NOTES TO THE ACCOUNTS YEAR ENDED 28TH FEBRUARY 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements have been prepared in accordance with 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 2015) - (Charitias SORP (FRS 102) .The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Accounting convention
The financial statements have been prepared under the historical cost convention, 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.
Charitable activities
Costs of charitable activities are those costs relating to the activities carried out to meet the objectives of the organisation, These include both directly attributable costs and apportioned support costs.
Governance costs
Governance costs are the costs associated with the strategic direction of the organisation and with meeting regulatory responsibilities including apportioned support cost.
Tangible fixed assets Tangible fixed assets, other than freehold land, are stated at cost or valuaQon less depreciaGon and any provision for impairment. Deprecia@on is provided at rates calculated to write off the cost or valuaGon of fixed assets, less their esimated residual value, over their expected useful lives on the following basis: Freehold Property -2% on cost Fixtures and Fittings - 25% on cost 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, Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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SHRI GURU RAVIDASS GURDWARA GRAVESEND NOTES TO THE ACCOUNTS YEAR ENDED 28TH FEBRUARY 2023
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|2.|VOLULTARY|INCOME|2023|2022|
|Tithes,|Offierings|and|Donations|77,794|68,834|
|Gift Aid|0|9,148|
|Other Income|0|2.383|
|£77,794|£80,365|
|3,|COSTS|OF|GENERATING|VOLUNTARY|INCOME|2023|2022|
|Charitable|activities|by|activity|type:|
|Temple|Activities|4,105|16,016|
|Public Welfare/|Kitchen|Costs|11,686|5,734|
|Donations|8,262|6,176|
|4,|GOVERNANCE|COSTS|£24,053|£27,926|
|Legal|and|professional fees|0|0|
|Accountant and|Examination|fees|£1,440|£1,974|
|5.|SUPPORT|COSTS|BY ACTIVITY TYPE|
|Activities|Under taken|Directly|24,053|27,926|
|Support|Costs|detailed|in|Income|and|Expenditure|39,190|35.264|
|TOTAL COSTS|£63,243|£65,164|
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SHRI GURU RAVIDASS GURDWARA GRAVESEND NOTES TO THE ACCOUNTS - CONTINUED YEAR ENDED 28TH FEBRUARY 2023
6, STAFF COSTS
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 28th February 2023 nor for the year ended 28th February 2022.
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| The average numberofemployees analysed byfunction | : | 1 | 1 | ||
| 7.FIXEDASSETS | Plantand | Fixturesand | Freehold | Total | |
| Machinery | Fittings | Property | |||
| cost | |||||
| At 1st March 2022 At 28th February2023 |
1,607 1.607, |
68.978 68,978 |
644.895 644,895 |
715,480 715,480 |
|
| DEPRECIATION | |||||
| As at 01 March 2022 | 963 | 68,978 | 118,223 | 188,164 | |
| Charge forthe year | 321 | QO | 11,704 | 12,025 | |
| As at 28 February2023 | 1.284 | 68,978 | 129,927 | 200,189 | |
| NET BOOKVALUE | |||||
| Asat28th February2023 | 323 | 0 | 514,968 | 515.291 | |
| As at28th February2022 | 644 | O | 826.872 | ___B27;316 | |
| 8.CREDITORS : Amounts falling dueafteroneyear | 2023 | 2022 | |||
| Other Creditors | £1,440 | £686 | |||
| £1,440 | £686 |
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SHRI GURU RAVIDASS GURDWARA GRAVESEND INCOME AND EXPENDITURE YEAR ENDED 28TH FEBRUARY 2023
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|---|---|---|---|---|---|---|---|---|
|2023|2022|
|Incoming|Resources:|£|£|
|Voluntary|income:|
|Tithes,|Offierings|and|Donations|77,794|68,834|
|Gift|Aid|0|£9,148|
|Other Income/Grant|0|2.382|
|Total|incoming|resources|£72,794|£80,364|
|RESOURCES|EXPENDED:|
|Charitable|activities:|
|Charitable|Donations|4,105|6,176|
|Temple|Activities|11,686|16,016|
|Kitchen|Costs|for|Public Welfare|8,262|5,734|
|£24,053|£27,926|
|GOVERNANCE|COSTS|
|Legal|and|professional|fees|0|:|
|Accountant|and|Examination|fees|0|£1,974|
|:|£1,974|
|SUPPORT|COSTS:|MANAGEMENT|
|Wages|5,882|5,986|
|Rates|and|water|3,702|3,507|
|Light|and|heating|5,293|5,283|
|Telephone|393|484|
|Postage|and|stationery|173|30|
|Insurance|2,407|2,363|
|Legal|and|Professional|Fees|0|0|
|Transport|1,065|8|
|Small|Equipment and|Computer|Expenses|1,022|560|
|Repairs|&|Maintenance|-|Fixture|and|fittings|1,735|2,668|
|Cleaning/Waste|Management|388|0|
|Paath/Honorarium|5,105|Q|
|Depreciation|12,025|14,375|
|£39,190|£35,264|
|Total|resources expended|£63,243|£65,164|
|Net Icome|£14,551|£15,200|
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SHRI GURU RAVIDASS GURDWARA GRAVESEND NOTES TO THE ACCOUNTS YEAR ENDED 28TH FEBRUARY 2023
| 9, MOVEMENTS IN FUNDS | ||||
|---|---|---|---|---|
| Unrestricted Funds | Balance at 01/03/2022 |
Incoming. Resources |
Outgoing Resources |
Balanceat 28/02/2023 |
| General Fund | £610,128 | £77,794 | £63,243 | £624,679 |
| UnrestrictedFunds Previous Year | Balance at | Incoming | Outgoing | Balance at |
| 01/03/2021 | Resources | Resources | 28/02/2022 | |
| GeneralFund | £594,928 | £80,364 | £65,164 | £610,128 |