Financial Statements for the Year Ended 31 December 2024
for
Gurdwara Sachkhand Isher Darbar Society
Gurdwara Sachkhand Isher Darbar Society
Contents of Financial Statements for the Year Ended 31 December 2024
| Page | |
|---|---|
| Company Information | 1 |
| Report of the Trustees of the Charity | 2-3 |
| Statement of Financial Activities (incorporating the | 4 |
| Income and expenditure account) | |
| Balance sheet | 5 |
| Notes to the financial statements | 6-8 |
Gurdwara Sachkhand Isher Darbar Society Company Information For the Year Ended 31 December 2024
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
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Gurdwara Sachkhand Isher Darbar Society
The report of the trustees for the Year ended 31 December 2024
Introduction
The Trustees present their report and the financial statements for the year ended 31 December 2024.
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
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(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.
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(B) To educate the public in the Sikh faith and the spiritual teachings of the Sikh religion.
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(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 founder of the Gurdwara Sachkhand Isher Darbar Society was Sant Baba Mann Singh Ji, affectionately known as Sant Ji, a title denoting a revered spiritual leader. For over 50 years, Sant Ji dedicated his life to preaching Sikhism across the globe, steadfastly upholding its principles and values. Through his inspirational leadership, Sant Ji encouraged hundreds of thousands to embrace the Sikh faith. Notably, in 1999, he led a historic baptism ceremony across India in which 135,650 individuals were initiated into Sikhism in a single day.
Sant Ji’s followers are spread across the world, and he was widely renowned for his tireless and selfless service to the Sikh religion on a global scale. Sant Baba Mann Singh Ji established the charity in collaboration with a Supreme Council, whose members, true to Sant Ji’s vision, are appointed through a selection process rather than elected.
Council members are appointed for life, unless disqualified, and are chosen primarily for their spiritual attributes: humility, selflessness, sacrifice, honesty, compassion, and a genuine love for humanity. In addition to these spiritual qualities, administrative and leadership skills are also considered vital to ensure effective governance. This structure promotes continuity, stability, and integrity in fulfilling the core mission of the charity.
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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.
15th October This report was approved by the trustees on ……….…………… 2025.
Signed on behalf of Gurdwara Sachkhand Isher Darbar Society
X STH) she Pau
Mr Baba Mohan Singh Chairman
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Gurdwara Sachkhand Isher Darbar Society
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 DECEMBER 2024
| 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 2024 Prior year adjustment TOTAL FUNDS AT 31ST DECEMBER 2024 |
Unrestricted Restricted Total Total Fund Fund Fund Fund 31 December 31 December 31 December 31 December 2024 2024 2024 2023 £ £ £ £ 145,813 67,563 213,376 245,221 145,813 67,563 213,376 245,221 -245,403 0 -245,403 -264,608 -245,403 0 -245,403 -264,608 -99,590 67,563 -32,027 -19,387 533,546 247,525 781,073 800,460 - - - - 433,956 315,088 749,046 781,073 |
|---|---|
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.
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Gurdwara Sachkhand Isher Darbar Society
Balance Sheet
Year Ended 31 December 2024
| Note | 2024 | 2023 | |
|---|---|---|---|
| £ | £ | ||
| FIXED ASSETS | |||
| Tangible Assets | 5 | 1,002,593 | 987,272 |
| CURRENT ASSETS | |||
| Stock | 6 | 1,000 | 1,100 |
| Debtors | 7 | - | - |
| Cash at Bank & In Hand | 28,704 | 93,573 | |
| CREDITORS: Amounts due within one year | 8 | 29,704 -6,486 |
94,673 -3,202 |
| NET CURRENT ASSETS | 23,218 | 91,471 | |
| CREDITORS: Amounts falling due after more | 9 | -276,765 | -297,670 |
| than one year | |||
| NET ASSETS | 749,046 | 781,073 | |
| FUNDS | |||
| Total funds | |||
| Restricted Income funds | 10 | 315,088 | 247,525 |
| Unrestricted Income funds | 11 | 433,956 | 533,547 |
| TOTAL FUNDS | 749,045 | 781,072 |
These financial statements were approved by the members of the committee on ……………......………… 2025.15th October
Signed on behalf of: Gurdwara Sachkhand Isher Darbar Society
X
………………………………… Mr Baba Mohan Singh (Chairman)
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Gurdwara Sachkhand Isher Darbar Society
Notes to the Financial Statements
Year Ended 31 December 2024
| 1. VOLUNTARY INCOME Donations Charity and Donations HMRC Charity - Gift Aid Rent Income Bank interest received 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 2024 £ 138,328 7,460 25 - 145,813 Unrestricted Funds 31st December 2024 £ 1,100 29,140 (1,000) 77,540 4,196 - 55,502 2,911 2,446 23,822 221 820 20,749 2,100 609 1,610 3,137 20,500 245,403 |
Restricted Funds 31st December 2024 £ 54,500 13,063 - - 67,563 Restricted Funds 31st December 2024 £ - - - - |
Total Funds 31st December 2024 £ 192,828 13,063 7,460 25 - 213,376 Total Funds 31st December 2024 £ 1,100 29,140 (1,000) - - - 77,540 4,196 - 55,502 2,911 2,446 23,822 - 221 820 20,749 - 2,100 609 1,610 - 3,137 - 20,500 245,403 |
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 |
|---|---|---|---|---|
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Gurdwara Sachkhand Isher Darbar Society
Notes to the Financial Statements
Year Ended 31 December 2024
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 |
2024 £ 3,137 2024 £ 77,540 77,540 |
2023 £ 2,286 2023 £ 54,561 54,561 |
|---|---|---|
4. STAFF COSTS AND EMOLUMENTS
Particulars of employees:
The average number of employees during the year, calculated on the basis of full-time equivalents, was as follows:
| Employees | 2024 No 5 |
2023 No 1 |
|---|---|---|
5. TANGIBLE FIXED ASSETS
| Freehold Property £ COST At 1st January 2024 873,819 Additions 0 Disposal during the year As at 31 December 2024 873,819 DEPRECIATION & DISPOSAL At 1st January 2024 Charge for the year As at 31 December 2024 - Net Book Value As at 31 December 2024 873,819 As at 31 December 2023 873,819 |
Improvements to Property £ 100,497 10,500.00 110,997 - 110,997 100,497 |
Fixtures and Fittings £ 49,863 7,959.00 57,822 36,908 3,137 40,045 17,777 12,954 |
Total £ 1,024,179 18,459.00 - 1,042,638 36,908 3,137 40,045 1,002,593 987,272 |
|---|---|---|---|
6. STOCK
| Stock | 2024 £ 1,000 1,000 |
2023 £ 1,100 1,100 |
|---|---|---|
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Gurdwara Sachkhand Isher Darbar Society
Notes to the Financial Statements
Year Ended 31 December 2024
| 7. DEBTORS Loan Prepayments 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-24 Restricted Funds: Charity and Donations 247,525 Total Restricted Funds 247,525 11. UNRESTRICTED INCOME FUNDS Balance at 01-Jan-24 Unrestricted Funds: Charity and Donations 533,546 Total Unrestricted Funds 533,546 Total Funds 781,072 |
2024 £ - - - 2024 £ - 67 6,404 - 15 - 6,486 2024 £ 60,485 95,822 77,223 43,235 276,765 Income Resources 67,563 67,563 Income Resources 145,813 145,813 213,376 |
2023 £ - - - 2023 £ - 692 2,276 - 234 - 3,202 2023 £ 68,675 102,556 79,793 46,646 297,670 Outgoing Balance at Resources 31-Dec-24 0 315,088 0 315,088 Outgoing Balance at Resources 31-Dec-24 245,403 433,956 245,403 433,956 245,403 749,045 |
|---|---|---|
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