# 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**Restricted Funds:**
Charity and Donations
191,341
**Total Restricted Funds**
**191,341**
**11.**
**UNRESTRICTED INCOME FUNDS**
**Balance at**
**01**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**
**310
247,525|
||**56,184**
**Income**
**Resources**
189,036|**0**
**247,525**
**Outgoing**
**Balance at**
**Resources**
**31264,608
533,546|
||**189,036**|**264,608**
**533,546**|
||**245,221**|**264,608**
**781,073**|
**Page 8**