2022-12-31-accounts

Financial Statements for the Year Ended 31 December 2022

for

Gurdwara Sachkhand Isher Darbar Society

Gurdwara Sachkhand Isher Darbar Society

		Contents of Financial Statements
	for the Year Ended 31 December 2022
Page Company Information 1 Report of the Trustees of the Charity 2-3 Statement of Financial Activities (incorporating the Income and expenditure account) 4 Balance sheet 5 Notes to the financial statements 6-8

Gurdwara Sachkhand Isher Darbar Society Company Information For the Year Ended 31 December 2022

Trustees:	Mr Sant Baba Mann Singh	– Chairman
	Mr Baba Mohan Singh	– Trustee
	Mr Harinder Chahal	– Trustee
	Mr Gurmit Singh	– Trustee
	Mrs Kamaljit Kaur Samra	– Trustee

Accountants: Doshi & Co. Accountants 6th Floor AMP House Dingwall Road Croydon CR0 2LX Bankers: Barclays Bank Plc Lloyds Bank Plc Registered Office: Vicarage Road West Bromwich Birmingham West Midlands B71 1AQ

Registered Charity Number: 1132514

Page 1

Gurdwara Sachkhand Isher Darbar Society

The report of the trustees for the Year ended 31 December 2022

Introduction

The Trustees present their report and the financial statements for the year ended 31 December 2022.

Governing Instrument and objectives

The charity's objects and regulations are regulated by the Constitution established in 2009, amended in November 2010, January 2011, March 2012 and April 2012 respectively. It is established

• (A) To advance the Sikh religion for the benefit of the public, in particular but not exclusively through the holding of prayer meetings, lectures, public celebration of religious festivals, producing and/or distributing literature on the Sikh religion to enlighten others about the Sikh religion.

• (B) To educate the public in the Sikh faith and the spiritual teachings of the Sikh religion.

• (C) To further such other charitable purposes according to the law of England and Wales as may from time to time be determined by the trustees.

Trustees and principal officers

The charity has Supreme Council of five trustees one of whom is approved as the Chairman. The following honorary members of the charity have held office for the whole of the year.

Mr Sant Baba Mann Singh - Chairman Mr Baba Mohan Singh – Trustee Mr Harinder Chahal – Trustee Mr Gurmit Singh – Trustee Mrs Kamaljit Kaur Samra - Trustee

The Chairman is the Charity’s Spiritual Leader and is affectionately known as 'Sant Ji' which means a leader amongst spiritual followers. The Chairman has preached Sikhism throughout the world for the past 30 years and has dedicated his entire life in following and upholding the principles of Sikhism. He has encouraged hundreds of thousands to become baptised Sikhs and in doing so led a baptism ceremony across India in 1999, where 135,650 people were baptised in one day. Followers of the Chairman reside all over the world and he is reknown for his selfless service to the Sikh religion globally.

Supreme Council members are appointed through a process of selection and not election. The term of office is life unless: a member is disqualified. Trustees are selected based firstly on their spiritual qualities - humility, sacrifice, selflessness, honesty, compassion, love for all and a desire to help all within Sikh and wider communities. Other important attributes include secular administrative and management capabilities. This framework provides conducive continuity and consistency in the decision making process for meeting the essential objectives of the charity.

It should be noted that the Chairman Sant Baba Mann Singh sadly passed away on 08/04/2023 and therefore as per our constitution Baba Mohan Singh was subsequently appointed Chairman and has approved these accounts. Mr Avtar Singh was also subsequently added as a trustee and this will be recorded in the next years accounts.

Page 2

Gurdwara Sachkhand Isher Darbar Society

Financial Review

The attached financial statements show the current state of affairs of the finances, which the trustees consider to be sound and will continue to closely monitor. The charity relies on donations and offerings from its members and the public. It is recognised that donations and offerings can fluctuate from year to year, thus the trustees aim to ensure that the charity has sufficient resources to continue its activities and to meet its obligations. To this end, it is considered prudent that sufficient liquid funds are maintained.

Risk Management

The Trustees actively review the major risks, which the Charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate the risks.

The Trustees do not believe the Charity is subject to any substantial risk beyond the liabilities disclosed in this Report and Accounts

Trustees' responsibilities in relation to the financial statements

Charity law requires the trustees to have accounts prepared that give a true and fair view of the state of affairs of the charity and of its income and expenditure for the financial period. In doing so, the trustees are required to:

• a) Select suitable accounting policies and then apply them consistently; b) Make judgements and estimates that are reasonable and prudent;

• c) Prepare the accounts on a going concern basis unless it is inappropriate to assume that the charity will continue to operate.

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.

25th October

This report was approved by the trustees on ……….…………… 2023.

Signed on behalf of Gurdwara Sachkhand Isher Darbar Society

X

Mr Baba Mohan Singh Chairman

Page 3

Gurdwara Sachkhand Isher Darbar Society

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 31 DECEMBER 2022

Note INCOMING RESOURCES Incoming resources from generating funds : Voluntary income 1 TOTAL INCOME RESOURCES RESOURCES EXPENDED Governance costs 2 TOTAL RESOURCES EXPENDED RECONCILIATION OF FUNDS NET INCOMING RESOURCES FOR THE YEAR Total funds brought forward at 1st January 2022 Prior year adjustment TOTAL FUNDS AT 31ST DECEMBER 2022	Unrestricted Restricted Total Total Fund Fund Fund Fund 31 December 31 December 31 December 31 December 2022 2022 2022 2021 £ £ £ £ 145,080 57,998 203,078 201,317
	145,080 57,998 203,078 201,317
	(98,031) 0 (98,031) (73,217)
	(98,031) 0 (98,031) (73,217)
	47,049 57,998 105,047 128,100 562,069 133,343 695,413 567,313 + + + +
	609,118 191,341 800,460 695,413

The Statement of Financial Activities includes all gains and losses in the period and therefore a statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities.

Page 4

Gurdwara Sachkhand Isher Darbar Society

Balance Sheet

Year Ended 31 December 2022

Note FIXED ASSETS Tangible Assets 5 CURRENT ASSETS Stock 6 Debtors 7 Cash at Bank & In Hand CREDITORS: Amounts due within one year 8 NET CURRENT ASSETS CREDITORS: Amounts falling due after more 9 than one year NET ASSETS FUNDS Total funds Restricted Income funds 10 Unrestricted Income funds 11 TOTAL FUNDS	2022 £ 969,989 1,000 937 143,415 145,352 (150) 145,202 (314,731) 800,460 191,341 609,118 800,460	2021 £ 751,862 1,500 217,385 59,306
		278,191 (33)
		278,158 (334,607)
		695,413
		133,343 562,070
		695,413

These financial statements were approved by the members of the committee on ……………......………… 2023.25th October

Signed on behalf of: Gurdwara Sachkhand Isher Darbar Society

X

…………………………………

Mr Baba Mohan Singh (Chairman)

Page 5

Gurdwara Sachkhand Isher Darbar Society

Notes to the Financial Statements

Year Ended 31 December 2022

1. VOLUNTARY INCOME Unrestricted Funds 31st December 2022 £ Donations Charity and Donations 139,080 HMRC Charity + Gift Aid Rent Income 6,000 Furlough Income + Interest received + 145,080 2. GOVERNANCE COSTS Unrestricted Funds 31st December 2022 £ Opening Stock 1,500 Food and Drinks 3,902 Closing Stock (1,000) Langar cost Donations Grant Wages and salaries 24,710 Rates and water 3,700 Insurance 5,752 Light and heat 30,567 Household and cleaning 1,342 Repairs 4,609 Printing, postage and stationery + Advertising 242 Telephone 738 Travelling expenses 1,289 Legal and professional 824 Accountancy 1,865 Bank charges 741 Sundry expenses 1,447 Depreciation on fixtures & fittings 1,672 Gain/loss on disposal of tangible assets + Bank loan interest 14,131 98,031	Restricted Funds 31st December 2022 £ 44,620 13,378 + + 57,998 Restricted Funds 31st December 2022 £ + + <	Total Funds 31st December 2022 £ 183,700 13,378 6,000 + + 203,078 Total Funds 31st December 2022 £ 1,500 3,902 (1,000) + + + 24,710 3,700 5,752 30,567 1,342 4,609 + 242 738 1,289 824 1,865 741 1,447 1,672 + 14,131 98,031	Total Funds 31st December 2021 £ 191,237 + 5,900 + 4,180
			201,317
			Total Funds 31st December 2021 £ 1,500 4,344 (1,500) + 5,080 + 15,973 3,554 3,754 16,052 1,935 7,615 + 222 411 600 600 1,818 1,036 1,263 1,387 + 7,573
			73,217

Page 6

Gurdwara Sachkhand Isher Darbar Society

Notes to the Financial Statements

Year Ended 31 December 2022

3. NET INCOMING RESOURCES FOR THE YEAR

This is stated after charging:

Depreciation STAFF COSTS AND EMOLUMENTS Total staff costs were as follows: Wages and salaries	2022 £ 1,672 2022 £ 24,710 24,710	2021 £ 1,387
		2021 £ 15,973
		15,973

4. STAFF COSTS AND EMOLUMENTS

Total staff costs were as follows:

Particulars of employees:

Particulars of employees:	Particulars of employees:
The average number of employees during the year, calculated on the basis of full+time equivalents,
was as follows:
2022	2021
No	No
Employees	1	1

5. TANGIBLE FIXED ASSETS Freehold Property £ COST At 1st January 2022 657,307 Additions 216,512 Disposal during the year As at 31 December 2022 873,819 DEPRECIATION & DISPOSAL At 1st January 2022 Charge for the year As at 31 December 2022 < Net Book Value As at 31 December 2022 873,819 As at 31 December 2021 657,307 6. STOCK Stock	Improvements to Property £ 86,697 86,697 < 86,697 86,697	Fixtures and Fittings £ 40,808 3,287.00 44,095 32,950 1,672 34,622 9,473 7,858 2022 £ 1,000 1,000	Total £ 784,812 219,799.00 +
			1,004,611
			32,950 1,672
			34,622
			969,989
			751,862
			2021 £ 1,500
			1,500

Page 7

Gurdwara Sachkhand Isher Darbar Society

Notes to the Financial Statements

Year Ended 31 December 2022

7. DEBTORS

DEBTORS
Loan Advance payment for property Prepayments	2022 £ + + 937 937	2021 £ + 216,497 888
		217,385

8. CREDITORS: Amounts falling due within one year Creditors Social security and other taxes Wages and salaries control New Loan + Onkar Johal Pension Contribution Accrued expenses 9. CREDITORS: Amounts falling due after more than one year Bank loan Bank loan Bank loan Bank loan	2022 £ + 67 + + 83 + 150 2022 £ 76,061 108,215 81,249 49,206 314,731	2021 £ + + + + 33 +
		33
		2021 £ 84,052 52,229 114,958 83,368
		334,607

10. RESTRICTED INCOME FUNDS

Restricted Funds: Charity and Donations Total Restricted Funds 11. UNRESTRICTED INCOME FUNDS Unrestricted Funds: Charity and Donations Total Unrestricted Funds Total Funds	Balance at 01<Jan<22 133,343 133,343 Balance at 01<Jan<22 562,069 562,069 695,413	Income Outgoing Balance at Resources Resources 31<Dec<22 57,998 0 191,341
		57,998 0 191,341 Income Outgoing Balance at Resources Resources 31<Dec<22 145,080 98,031 609,118
		145,080 98,031 609,118
		203,078 98,031 800,460

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