GOBIND MARG (A Company Limited by Guarante•) . Annual Report and Financial Statements Period Ended 30 Septsmber 2023 Rogisted Charty number: 1127560 Company number . 6694720 yii ND3DU28U 1810512024 COMPANIES HOUSE A9
GOBIND MARG (A Company Llmited by Guarantee) Annual Report and Financial Statements for the period ended 30 September 2023 Contents Pago Legal and administrative information Report of the Iruslees Structure, governance and management Objectives and activit Highlights of the period Financial review and results for the period Directors'ftruslees. responsibilitse$ Report of the independent auditors ststement of financial activities 8alance Sheet Notes forming part of the financial statements
GOBIND MARG (A Company Limitsd by Guarantee) Annual Report and Financial Statements for the period ended 30 September 2023 Status The Charity was Inwrporated as a Company Limiled by Guarantee on 10 September 2008. The Company was formed under a Memorandum of Assc¢iation, which established its objects and powers, and is governed under ils Articles of Association. Under those Artr'cies, the members of the Association were determined and the Board may from time lo tirrE register an increase of members without any upper limit. Twstees Balbir Singh Johal Jagdev Singh 8oparai Ku1nder Singh Mann ITreasurer) Manjit Singh Sidhu Rabinder Singh Sidhu {Chaimian) Sandeep Singh Chohan Kuljil Singh Company Secretary Sandeep Singh Chohan Registered o)Tico Rollingmill Street dlsall West Midlands WS2 9EN Independent examlner Taljinder Sin9h 1 Crabtree Road, Walsall, WS12RY Bankers National Westminister Bank PIC 33 Park Street Walsall Lloyds Bank The 8r¢dge Walsall
GOBIND MARG (A Company Limited by Guarantee) Annual Report and Financial Statements for the period ended 30 September 2023 Report of the Trustees The Board of Tnjstees submits its report and financial statements of the charity for the period ended 30 S8Ptember 2023. Structure, Govemance and Management Oryanisation The organisatK*n is managed by the Twstees who meet regulady to discuss strategic matters and various a$pe¢ts of responsibilty which are allocated beeen them. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our future actwities. In particular. the trustees consider how planned activities will contribute to the aims and objectives they have set. Trustees The training and induction provided for Trustees will depend on their existing experience. Where necessary training on charity and financial matters is tsilored specifically to the individual Risk Management The Tiustees are commrtied to an ongoing policy of identifying, monitoring and managing risks that mighl adversety affect the operation and reputation of the Charity, assessing the likelihood of occurrence and means of mitigating them. The Trustees are satisfied that appropriate structures are in place lo identfy and manage the major risks facing the Charity. The Trustees have assessed the going concern of the Charity. The Charity has continued to recewe its direct debit donations during this period. and is due to receive its gift aid from HMRC lor the year erIng 30 September 2023. Taking all these into account, the Trustees are confident of the Charity's going ¢on¢em. Objecllves and activitles The objective for which the Charity is established are to be furthered primarily in the United Kingdom but also in Punjab Ilndia} and other parts of the world as the directors from lime to time see fit. The Charity's objectives to be furthered in th'e area.of benefit are.. To advance the Sikh religion by preaching and promoting ils teachings, establishing and maintaining "Gurdwara or Gurdwaras, conducting services, education programmes and observances based on the tenets and doctrines of the faith, and establishing and maintaining religious schools of instruction for children, young people and adults. To relieve povety by providing food, ¢lolhing. shelter and other necessities of life to people in povety or wilhoul visible means of support and to the elderly, ill and disabled people of low or modest income and in need. To advance education. in particular by establishing, maintaining or support public elementary schools and lo work cooperatively with Govemments in the United Kingdom and other countries. and with other ¢haritable organisations to accomplish these purposes. To promote health and relieve sickness.
GOBIND MARG (A Company Limited by Guarantee) Annual Report and Financial Statements for the perlod ended 30 September 2023 Res•rve$ Pollcy The funds are to be used by the Charity lo fund the future objectives of the Charity. The Trustees remain aware of the level of Ihe fvnds and confirm that all reserves shall be used to pursue the Charity's future objectives. The year ended with restricted funds of £989,716. Hlghlights of the period During the period, the charity continued with the Tefurbishmenls of its property {which is used specificalty for Charitable purposes}- costs of £15.500 were incurred and have been capilalised. Financlal Review and Results for the perlod Restrlcted Funds The fvll aocounls and the Independent examination report start on page 6. The Statement of Recommended Practice for Charities (SORPI 2005 has been adopted in preparing this Annual Report and Financial Ststements. Reslricted income of£384.002 was received during the period," resources expended were £364,723.. total restricted funds at the year end amounted to £19,279. Future Plans The Trustees and Management will continue to strengthen the core activities of the Charity. The Charity will continue, where possible, to refurbish the property in order to develop more classrooms for Children. young people and adults for education purposes. This is a Continued process. The Trustees are confident that the charity has sufficient resources available to be able lo contlnue to meet ils commitments and deliver upon ils aims and objectives.
GOBIND MARG (A Company Limited by Guarantee) Annual Report and Financial Statements for the perlod ended 30 Septsmber 2023 Trustèès. responsibiliti•s The TTustee5 are responsibie for preparing the Annual Report and the finan¢ial statements in accordance with the Companies Act 2006 and for being satisfied that the financial stalemenls give * true and fair view. The Trustees are also re$ponsible for preparing the financial slalemenls in accordance with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepaTe financial statements for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial stslements, the Trustees are required to.. select suitable accounting policies and then apply them consistently; make judgments and estimates Ihat are reasonable and prudent.. slate whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial stalernents on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees a responsible for keeping adequate accounting records that show and explain the charity's transaelions, diselose with reasonable a¢¢uracy at any time the financial position of the charity, and enable them to ensure that the financial statements Comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.. This trustees, pOrt has been prepared in accordance with the provisions applicable to companies entitled to the small companies, exemption. By orderof tho Boar Sa Chohan Trustee Date.. 30 April 2024
GOBIND MARG (A Company Limited by Guarantee) Indopèndent examIne$ report lo the trustges of Gobind Marg for tho perlod &nd¢d 30 Septomber 2023 I report on the accounts of Gobind Marg for the period ended 30 Sèptember 2023, which a set out on pages 7 to 12. ROsptIve responslbllilles of trustees and examlner A5 th• charity's trustees you a responsible for the preparation of the accounts., you consider that the audit requirement of seclron 43121 of the Charities Act 1993 Ilhe Acll does not apply. It is my responsibility to examine the accounts lunder Section 43 {31 lal of the 1993 Act) and to state on the basis of procedures specified in the general directions given by the Charity Commissioners under section 43 171 Ib) of the Act, whether particular matters have come to our attention. Basls. of Independenl examlnerf8 report My examination wa$ carried out in accordance with the general directions given by the Charity Commissioners. 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 $eeking explanations from you as Ifuslees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently I do not express an audrt opinion on the view given by the accounts. Indeyndenl examlnerfs statement In connection with our examination, no matter has come to my attention.. which gives me 8$onable cause to believe that in any material respect the requirements.. to keep accounting records in accordance with section 4.1 of the 1993 Act., and to prepare accounts which accord with the accounting records and to comply with the awiunting requirements of the 1993 Act", have not been met," or (21 lo which. in my opinion, attention shoukl be drawn in order lo enable a proper understsnding of the accounts to be reached. Mr Taljinder Singh 1 Crabtree Road Walsall WS12RY Date.. 30 April 2024
GOBIND MARG (A Company Limitsd by Guarantee) Statement of flnanclal actlvltles (includlng Income and Expenditure Accounti for the period ended 30 September 2023 Restricled funds 2023 Not• 2022 Incoming Resources from 9gnerated funds Voluntary In¢om¢ Donations 384,002 325,049 Investment income Insurance income Other Incomè Total Incomlng resources 384,002 325,049 Resources expended Charitable activities Direct charitable expendilu 364 723 - 299.344 Governance cost5 Totsl resources expended 364.723 299.344 .Nel incomingl{outgoing} resources 19,279 25,705 Fund balances brought forward at 30 September 2022 970,437 944,732 Fund balanc85 carried forward at 30 September 2023 9&10 989,716 970.437 All amounts relate to continuing activities. All reeogftised gains and losses are included in the statement of financial activities. The notes on page$ 9 to 12 form part of these finan¢ial statements
GOBIND MARG (A Company Limited by Guarantee Balan¢e sh••t at 30 September 2023 Company number: 1127560 Note 2023 2023 2022 2022 Flx¢d assets Propety Plant and machlnery 1,186,393 37.721 1,180.893 39.721 1,224,114 1,220,164 Current assets Cash at bank and in hand other debtors 102,462 30.532 120,334 31,095 132,994 151,429 Creditors.. amun15 falling due less than one year (54,000) 154,0001 78,994 97,429 Credltors.. amounts falling due more than one year 1313,392) 1347,1561 Total assets less current 989,716 970,437 Capilal and reservgts Restricted funds 989,716 970,437 989.716 970,437 Forthe year ended 30 September 2023 the company was entitled to exemption under section 477 ofthe Companies House 2006 relating to small businesses. No members have required the company lo obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of Ihe Act with respect to accounting records and for the preparation of the accounts. These financial statements have been prepared in accordance with the provisions applicable to Companies subje¢l to the small companies regime. These financial slatemenls were approved by the board of trustees on 30 April 2024 Jagdev Slngh Boparal Kulwinder Singh Mann Sandeep Slngh Chohan The notes on pages 9 to 12 fomi part of these financial statements.
GOBIND MARG (A Company Limited by Guaranteei Notes fomiing part of Ih? financlal statemonts for the period ended 30 September 2023 Accounting policies The financial statements have been prepared under the historical cost convention, as modiffied by the revaluation of freehold and leasehold properties, and are in accordance with the Companies Act 2006 and StatetT*nl of Recommended Practice 'Aceounling and Rep)riing of Charities, 200512nd edition - 20081. DOnatnS. legaoes and other voluntary income Donations. legacies and any other fomi of voluntary income or benefit to the charity are recognised within the statement ol financial activities when receivable. Depreciation Depreciation is provided to write off the cost, less tslimated residual values, of all tangible fixed assets eventy over their expected useful lives. It is ¢al¢ulated at the following rates.. Freehold propety Plant and machinerylfixtures and fittings 1Vo on cost 150A on cost Restricl8d and unrestiicted funds Restri¢ted lunds are to be used for spe¢ifi¢ purposes as laid d¢)wn by the donor. Wnere applicable, expenditure which meets these criteria is charged to the fund. tO9elher with a fair allocation of management and support costs. Unrestricted fijnds are donations and other incoming resources receivable or generated for the object of the charity without further specified purpose and are available as general funds. Expenditure allocation and apportnMent Expenditure is re¢ogni5ed on an accruals basis as a liability is incurred. Resources expended are allocated to the particular activity where the cost related directly to that activity. Taxath The company is non profit making and as a Charity 1$ exempl from Corporalion.Tax under Sectf>n 505 of the Income and Corporation TaxesA¢t 1988. Cash Ilow ststement The company has taken advantage of the exernption provided by Financial Reporting Standard 1 and has not prepared a cash flow statement for the year on the grounds rt is a small company under the Companies Act 2006. Income Rgstricl¢d 2023 - £ Reslrlcted 2022 - £ Donations 384.002 325,049 Insurance flood
GOBIND MARG (A Company Limited by Guarantee) Note8 forrning part of the flnanclal statoments for the period endgd 30 Septernber 2023 3 N•t in¢omingloutg¢ing) $our¢e$ 2023 2022 This is after charging.. DePClaI1¢n 12,000 12,000 Dlrect charltable expendlture: Eslablishmenl expenditure 364,723 299,344 Employees The average monthly number of employee$ during the year, analysed ty function, was as follows.. 2023 Number 2022 Number Employees Staff costs consists of.. Salaries 10.400 10,400 Trusteeg, emolument$ The members of the board of Irustees do not receive any remuneration and no reimbursement of expense$ was made during this year.
GOBIND MARG (A Company Limited by Guarantee) Not•s formlng part of th• finan¢ial statements for the perlod ended 30 September 2023 Fixed assets Property Plant and machlnery TOTAL Cost Brought forward 1,286.508 54.582 1,341.090 Additions during the year 15,500 15,500 Carrd forward 1.302,008 S4,582 1,356,590 De reciatio Brought forward 105,614 15,311 120,925 Charge for the year 10,000 2,000 12,000 Carried forward 115,614 17,311 132,925 ok value- 30 September 2023 1.186,394 37..271 1,224,114 N8 k value- 30 September 2022 1,180,893 39,721 1,220,164 Debtors 2023 2022 Gift aid 30,532 31.095 All aUnts shown under debtors fall due for payment within one year. Creditors 2023 2022 Bank loan < 1 year 54,000 54,000 Bank loan > 1 year 313,392 347,156
GOBIND MARG (A Company Limited by Guarantee) Notes forming part of the financial stat•m¢nts for the period ended 30 Septemb•r 2023 Analysis of net assets behveen fund8 Total Regtricted funds .Tangible fixed assets Current assets Currenl liabilities Long term liabilities 1,224,114 132,994 154.000> {313,3921 Net assets at 30 September 2023 989.716 10 Mov•ment in funds At 1 October Incomlng 2022 resources At Gain$ and 30 September Losses 2023 Outgoing resourcos Transfe Restrlctgd funds Propety 970.437 384.002 364,723 989.715 Total restricted funds 970.437 384,002 364,723 989,716 Purposes of restrlcled funds To continue undertake refurbishments to the property which is used as a Gurdwara. 11 Company ¢xompt from r•quir¢ment to use the word IILlmlted" The company eomplies with section 30{3) of the Companies Act 2006 and is therefore exempt from using the word 'Limited" in its title. 12 Company limlted by guarantee The company has no share capital. The liability to the members in respect of the guarantee as set out in the company's memorandum of association 1$ limited lo £1 per member.