2023-12-31-accounts

Financial Statements for the Year Ended 31 December 2023

for

Gurdwara Sachkhand Isher Darbar Society

Gurdwara Sachkhand Isher Darbar Society

		Contents of Financial Statements
	for the Year Ended 31 December 2023
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 2023

Trustees:	Mr Baba Mohan Singh	– Chairman
	Mr Avtar 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 2023

Introduction

The Trustees present their report and the financial statements for the year ended 31 December 2023.

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 Baba Mohan Singh - Chairman Mr Avtar 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 has also subsequently been added as a trustee and this has also been updated on the charity commission portal.

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.

This report was approved by the trustees on ……….…………… 2024. 22nd July

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 2023

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 2023 Prior year adjustment TOTAL FUNDS AT 31ST DECEMBER 2023	Unrestricted Restricted Total Total Fund Fund Fund Fund 31 December 31 December 31 December 31 December 2023 2023 2023 2022 £ £ £ £ 189,036 56,184 245,221 203,078
	189,036 56,184 245,221 203,078
	(264,608) 0 (264,608) (98,031)
	(264,608) 0 (264,608) (98,031)
	(75,572) 56,184 (19,387) 105,047 609,118 191,341 800,460 695,413 + + + +
	533,546 247,525 781,073 800,460

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 2023

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	2023 £ 987,272 1,100 + 93,573 94,673 (3,202) 91,471 (297,670) 781,073 247,525 533,546 781,073	2022 £ 969,989 1,000 937 143,415
		145,352 (150)
		145,202 (314,731)
		800,460
		191,341 609,119
		800,460

These financial statements were approved by the members of the committee on ……………......………… 2024.22nd July

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 2023

1. VOLUNTARY INCOME Donations Charity and Donations HMRC Charity + Gift Aid Rent Income Furlough Income Interest received 2. GOVERNANCE COSTS Opening Stock Food and Drinks Closing Stock Langar cost Donations Grant Wages and salaries Rates and water Insurance Light and heat Household and cleaning Repairs Event expense Printing, postage and stationery Advertising Telephone Travelling expenses Legal and professional Accountancy Bank charges Sundry expenses Charitable donation Depreciation on fixtures & fittings Gain/loss on disposal of tangible assets Bank loan interest	Unrestricted Funds 31st December 2023 £ 181,836 7,200 + + 189,036 Unrestricted Funds 31st December 2023 £ 1,000 34,611 (1,100) 55,435 4,935 4,892 49,670 1,802 8,041 50,000 + 230 739 15,025 6,594 2,100 536 2,401 2,000 2,286 + 23,411 264,608	Restricted Funds 31st December 2023 £ 38,600 17,584 + + 56,184 Restricted Funds 31st December 2023 £ + + + <	Total Funds 31st December 2023 £ 220,436 17,584 7,200 + + 245,221 Total Funds 31st December 2023 £ 1,000 34,611 (1,100) + + + 55,435 4,935 4,892 49,670 1,802 8,041 50,000 + 230 739 15,025 6,594 2,100 536 2,401 2,000 2,286 + 23,411 264,608	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

Page 6

Gurdwara Sachkhand Isher Darbar Society

Notes to the Financial Statements

Year Ended 31 December 2023

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	2023 £ 2,286 2023 £ 55,435 55,435	2022 £ 1,672
		2022 £ 24,710
		24,710

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:
2023	2022
No	No
Employees	1	1

5. TANGIBLE FIXED ASSETS Freehold Property £ COST At 1st January 2023 873,819 Additions 0 Disposal during the year As at 31 December 2023 873,819 DEPRECIATION & DISPOSAL At 1st January 2023 Charge for the year As at 31 December 2023 < Net Book Value As at 31 December 2023 873,819 As at 31 December 2022 873,819 6. STOCK Stock	Improvements to Property £ 86,697 13,800.00 100,497 < 100,497 86,697	Fixtures and Fittings £ 44,095 5,768.00 49,863 34,621 2,286 36,907 12,956 9,473 2023 £ 1,100 1,100	Total £ 1,004,611 19,568.00 +
			1,024,179
			34,621 2,286
			36,907
			987,272
			969,989
			2022 £ 1,000
			1,000

Page 7

Gurdwara Sachkhand Isher Darbar Society

Notes to the Financial Statements

Year Ended 31 December 2023

7. DEBTORS

Loan Prepayments	2023 £ + + <	2022 £ + 937
		937

8. CREDITORS: Amounts falling due within one year

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 10. RESTRICTED INCOME FUNDS Balance at 01<Jan<23 Restricted Funds: Charity and Donations 191,341 Total Restricted Funds 191,341 11. UNRESTRICTED INCOME FUNDS Balance at 01<Jan<23 Unrestricted Funds: Charity and Donations 609,118 Total Unrestricted Funds 609,118 Total Funds 800,460	2023 £ + 692 2,276 + 234 + 3,202 2023 £ 68,675 102,556 79,793 46,646 297,670 Income Resources 56,184	2022 £ + 67 + + 83 + 150 2022 £ 76,061 108,215 81,249 49,206 314,731 Outgoing Balance at Resources 31<Dec<23 0 247,525
	56,184 Income Resources 189,036	0 247,525 Outgoing Balance at Resources 31<Dec<23 264,608 533,546
	189,036	264,608 533,546
	245,221	264,608 781,073

Page 8