| Contents | Page | |||||
|---|---|---|---|---|---|---|
| Report ofthe Trustees | (including | Directors' Report) | ||||
| Independent | Auditor's Report |
9-12 | ||||
| Consolidated | Statement | of FinancialActivities | (including | Income & | 13 | |
| Expenditure | Account) | |||||
| Consolidated | and Charity | Balance | sheets | 14-15 | ||
| Consolidated | Cash Flow | Statement | 16 | |||
| Notes forming part ofthe Financial | Statements | 17-29 |
| Unrestricted | Restricted | 2022 | 2021 | |||
|---|---|---|---|---|---|---|
| Notes | fundf | fund f |
Total funds f |
Total funds f |
||
| INCOME AND | ENDOWMENTS | |||||
| FROM | ||||||
| Donations and |
legacies | 438,000 | 612,000 | 1,050,000 | 1,551,000 | |
| Advertisement | income | 74,000 | 74,000 | 66,000 | ||
| Total Income and endowments | 512,000 | 612,000 | 1,124,000 | 1,617,000 | ||
| EXPENDITURE | ON | |||||
| Charitable activities |
478,000 | 697,000 | 1,175,000 | 1,504,000 | ||
| Total expenditure | 478,000 | 697,000 | 1,175,000 | 1,504,000 | ||
| NET INCOME / | (EXPENDITURE) | 34,000 | (85,000) | (51,000) | 113,000 | |
| RECONCILIATION OF FUNDS |
||||||
| Fund balance brought forward at 1September |
285,000 | 85,000 | 370,000 | 257,000 | ||
| TOTAL FUNDS FORWARD AT |
CARRIED 31AUGUST |
319,000 | 319,000 | 370,000 |
| SANGAT TRUST (Company Number 07355264) |
SANGAT TRUST (Company Number 07355264) |
SANGAT TRUST (Company Number 07355264) |
|||||
|---|---|---|---|---|---|---|---|
| Consolidated | and Charity Balance Sheet At | 31August 1012 | |||||
| Group | Group | Charity | Charity | ||||
| 2022 | 2021 | 2022 | 2021 | ||||
| Notes | |||||||
| FIXEDASSETS | |||||||
| Intangible assets |
11 | 50,000 | 50,000 | ||||
| Tangible assets | 12 | 20,000 | 11,000 | ||||
| Investments | 13 | ||||||
| 70,000 | 61,000 | ||||||
| CURRENT ASSETS | |||||||
| Debtors | 14 | 105,000 | 95,000 | 166,000 | 164,000 | ||
| Cash at bank | and | in hand | 745,000 | 757,000 | 717,000 | 733,000 | |
| 850,000 | 852,000 | 883,000 | 897,000 | ||||
| CREDITORS | |||||||
| Amounts falling due within |
15 | (577,000) | (501,000) | (652,000) | (508,000) | ||
| one year | |||||||
| NET CURRENT ASSETS | 273,000 | 351,000 | 231,000 | 389,000 | |||
| TOTAL ASSETS LESSCURRENT | 343,000 | 412,000 | 231,000 | 389,000 | |||
| LIABILITIES | |||||||
| CREDITORS | |||||||
| Amounts falling due more than |
15 | (24,000) | (42,000) | ||||
| one year | |||||||
| NET ASSETS | 319,000 | 370,000 | 231,000 | 389,000 | |||
| FUNDS | |||||||
| Restricted funds |
16 | 85,000 | 121,000 | ||||
| Unrestricted | funds | 16 | 319,000 | 285,000 | 231,000 | 268,000 | |
| TOTAL FUNDS CARRIED | 21 | 319,000 | 370,000 | 231,000 | 389,000 | ||
| FORWARD |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| E | E | |||||
| Cash flows from operating | activities: | |||||
| NET (EXPENDITURE) / INCOME for the reporting | period (as per the | (51,000) | 113,000 | |||
| statement offinancial activities) |
||||||
| Adjustments for: |
||||||
| Depreciation | 4,000 | 2,000 | ||||
| Increase in debtors |
(10,000) | 13,000 | ||||
| Increase in creditors |
58,000 | 364,000 | ||||
| Net cash generated from operating |
activities | 1,000 | 492,000 | |||
| Cash flows from investing | activities: | |||||
| Purchase oftangible assets | (13,000) | (6,000) | ||||
| Net cash used in financing |
activities | (13,000) | (6,000) | |||
| Change in cash and cash equivalents |
in the reporting | period | (12,000) | 486,000 | ||
| Cash and cash equivalents | at 1September | 757,000 | 271,000 | |||
| Cash and cash equivalents | at 31August | 745,000 | 757,000 | |||
| Cash and cash equivalents | consist of: | |||||
| Cash at bank and in hand |
745,000 | 757,000 | ||||
| 745,000 | 757,000 |
| . | DONAT | IONS | AND LEGACI | ES | |||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| f | f | ||||||
| Donations | 1,050,000 | 1,551,000 | |||||
| Advertisement | income | 74,000 | 66,000 | ||||
| 1,124,000 | 1,617,000 | ||||||
| 4. | EXPENDITURE ON CHARITABLE ACTIVITIES | ||||||
| 2022 | 2022 | 2022 | 2021 | ||||
| Grants | Support | ||||||
| payable (See note 5) |
costs (See note 6) |
Totals f |
Tota Is f |
||||
| f | f | ||||||
| Charitable | activities | 697,000 | 478,000 | 1,175,000 | 1,504,000 | ||
| 697,000 | 478,000 | 1,175,000 | 1,504,000 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| f | f | |||||
| Mool Mantar | Asthan | 10,000 | 8,000 | |||
| Kar Sewa Patna Sahib | 29,000 | 163,000 | ||||
| Guru Ki Kashi |
30,000 | 12,000 | ||||
| Humanitarian | Aid- Farmers' | Families | 147,000 | |||
| Humanitarian | Aid- Farmers' | Support | 10,000 | 122,000 | ||
| Sheetal Kund |
Gurdwara | 7,000 | 8,000 | |||
| Medical Fund | 104,000 | 257,000 | ||||
| Sangat Eye Camp | 41,000 | 28,000 | ||||
| Langar Sewa | 93,000 | 172,000 | ||||
| Other Donations | 1,000 | |||||
| GNNSJ- Kar Sewa Harmandir | Sahib (Amritsar | Sahib) | 253,000 | (9,000) | ||
| Sangat Aid Advertising | Costs | 135,000 | ||||
| SCSSikligar | 2,000 | |||||
| Indonesia Floods Fund |
5,000 | |||||
| Baba Kashmir | Singh (Bhuriwale) | 1,000 | ||||
| Nepal Earthquake Fund |
111,000 | |||||
| Pingalwara | 1,000 | |||||
| 697,000 | 1,044,000 |
| . SUPPORT |
COSTS | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Totals | Totals | |||
| 6 | f | |||
| Other5upport | costs | 128,000 | 115,000 | |
| Wages(Note | 8) | 104,000 | 92,000 | |
| Television broadcasting |
costs | 176,000 | 179,000 | |
| Rent &rates | 52,000 | 58,000 | ||
| Depreciation | (Note 12) | 4,000 | 2,000 | |
| Bank charges | 3,000 | 3,000 | ||
| Governance | costs | 11,000 | 11,000 | |
| 478,000 | 460,000 |
| 2022 | 2021 | ||
|---|---|---|---|
| 6 | E | ||
| Auditor's | remuneration | 3,500 | 3,500 |
| 3,500 | 3,500 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| E | f | |||
| Wages | and | salaries | 104,000 | 92,000 |
| 104,000 | 92,000 |
| 0. COMPARATIVES FOR THE |
STATEMEN | T OF FINANCIAL ACTIVITI | ES | |
|---|---|---|---|---|
| Unrestricted fund |
Restricted fund |
Total funds | ||
| 2021 | ||||
| E | ||||
| INCOME AND ENDOWMENTS | FROM | |||
| Donations and legacies |
538,000 | 1,013,000 | 1,551,000 | |
| Advertisement income |
66,000 | 66,000 | ||
| Total | 604,000 | 1,013,000 | 1,617,000 | |
| EXPENDITURE ON CHARITABLE | ||||
| ACTIVITIES | ||||
| Support costs | 449,000 | 449,000 | ||
| Governance costs |
11,000 | 11,000 | ||
| Grants paid and related costs | 1,044,000 | 1,044,000 | ||
| Total | 460,000 | 1,044,000 | 1,504,000 | |
| NET INCOME | 144,000 | (31,000) | 113,000 | |
| RECONCILATION OF FUNDS |
||||
| Total funds brought forward | 141,000 | 116,000 | 257,000 | |
| TOTAL FUNDS CARRIED FORWARD | 285,000 | 85,000 | 370,000 |
| 1.INTANGIBLE FIXED ASSETS | |||
|---|---|---|---|
| App | |||
| Licence Costs E |
Development f |
Total E |
|
| COST | |||
| At 1September 2021 | 45,000 | 5,000 | 50,000 |
| Additions | |||
| At 31August 2022 | 45,000 | 5,000 | 50,000 |
| NET BOOK VALUE | |||
| At 31August 2022 | 45,000 | 5,000 | 50,000 |
| At 31August 2021 | 45,000 | 5,000 | 50,000 |
| 2. TANGIBLE FIXEDASSETS | |
|---|---|
| Plant and | |
| machinery | |
| (including | |
| motor | |
| vehicles) | |
| f | |
| COSTS | |
| At 1September 2021 | 178,000 |
| Addition | 13,000 |
| At 31August 2022 | 191,000 |
| DEPRECIATION | |
| At 1September 2021 | 167,000 |
| Charge for year | 4,000 |
| At 31August 2022 | 171,000 |
| NET BOOK VALUE | |
| At 31August 2022 | 20,000 |
| At 31August 2021 | 11,000 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| f | E | |||
| Sangat TV Limited | ||||
| Turnover | 639,000 | 497,000 | ||
| Expenses | (546,000) | (521,000) | ||
| Net Assets/ (liabilities) | 56,000 | (37,000) | ||
| Sangat 1Limited | ||||
| Net assets | 100 | 100 | ||
| 14. DEBTORS | ||||
| Group | Group | Charity | Charity | |
| 2022 E |
2021 f |
2022f | 2021 E |
|
| Trade debtors | 18,000 | 5,000 | ||
| Amounts owed by group undertakings |
160,000 | 157,000 | ||
| Other debtors | 57,000 | 59,000 | 5,000 | 6,000 |
| Prepayments | 30,000 | 31,000 | 1,000 | 1,000 |
| 105,000 | 95,000 | 166,000 | 164,000 |
| 15.CREDITORS: AMOUNTS | 15.CREDITORS: AMOUNTS | FALLING DUE WITHIN ONE YEAR | FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|---|---|
| Group | Group | Charity | Charity | |||
| 2022 | 2021 | 2022 | 2021 | |||
| f | f | E | E | |||
| Trade creditors | 3,000 | 43,000 | 78,000 | 53,000 | ||
| Other creditors | 6,000 | 8,000 | ||||
| Accruals | 568,000 | 450,000 | 574,000 | 440,000 | ||
| TOTALFUNDS | 577,000 | 501,000 | 652,000 | 493,000 | ||
| CREDITORS: AMOUNTS | FALLING DUE | Group | Group | Charity | Charity | |
| MORE THAN ONE YEAR | 2022 E |
2021 E |
2022f | 2021 f |
||
| Other creditors | 24,000 | 42,000 | ||||
| TOTALFUNDS | 24,000 | 42,000 |
| 6.MOVEMENT IN GROUP FUND |
S | ||||
|---|---|---|---|---|---|
| At 1September 2021 | Net movement | in funds | At 31August 2022 | ||
| E | E | E | |||
| Unrestricted funds |
|||||
| General fund | 285,000 | 34,000 | 319,000 | ||
| Restricted funds | |||||
| Restricted fund |
85,000 | (85,000) | |||
| TOTAL FUNDS | 370,000 | (51,000) | 319,000 | ||
| et movement in funds, included |
in the above are as follows: | ||||
| Incoming resources E |
Resources expended E |
Movement | in funds f |
||
| Unrestricted funds |
|||||
| General fund | 512,000 | 478,000 | 34,000 | ||
| Restricted funds | |||||
| Restricted fund |
612,000 | 697,000 | (85,000) | ||
| TOTAL FUNDS | 1,124,000 | 1,175,000 | (51,000) |
| At | 1September 2020 | Net movement | in funds | At 31August 2021 | |
|---|---|---|---|---|---|
| E | E | ||||
| Unrestricted funds |
|||||
| General fund | 141,000 | 144,000 | 285,000 | ||
| Restricted funds | |||||
| Restricted fund | 116,000 | (31,000) | 85,00 | ||
| TOTAL FUNDS | 257,000 | 113,000 | 370,000 |
| Incoming resources | Resources expended | Movement | in funds | |
|---|---|---|---|---|
| E | E | E | ||
| Unrestricted funds |
||||
| General fund | 604,000 | 460,000 | 144,000 | |
| Restricted funds | ||||
| Restricted fund | 1,013,000 | 1,044,000 | (31,000) | |
| TOTAL FUNDS | 1,617,000 | 1,504,000 | 113,000 |
| 17. RELATED | 17. RELATED | PARTY DISCLOSURES | PARTY DISCLOSURES | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Transactions | with Sangat TV Limited | |||||||||
| 2022 | 2021 | |||||||||
| f | f | |||||||||
| Advertising paid to Sangat TV Limited |
565,000 | 430,000 | ||||||||
| Intercompany | balance due to Sangat Trust | 115,000 | 112,000 | |||||||
| Transactions | with Sangat 1Limited | |||||||||
| 2022 | 2021 | |||||||||
| f | f | |||||||||
| Intercompany | balance due to Sangat Trust | 45,000 | 45,000 | |||||||
| At the | end of | the year the following | amounts | were owed | from: | |||||
| 2022 f |
2021f | |||||||||
| Guru | Nanak | Nishkam Jatha (Birmingham) |
UK | 3,000 | ||||||
| Guru | Ki Kashi (Akal University) | 10,000 | ||||||||
| At the | end of | the year the following | was due by | Sangat Trust to: | ||||||
| Dhillon Farm | Veg (UK) Ltd | |||||||||
| Guru | Nanak | Nishkam Jatha (Birmingham) |
UK | 1,000 | ||||||
| Guru | Ki Kashi (Akal University) | 6,000 | ||||||||
| During | the year the Trust received | the following | donations | from: | ||||||
| Guru | Nanak | Nishkam Jatha (Birmingham) |
UK | |||||||
| Guru | Ki Kashi (Aka I University) | |||||||||
| Sangat TV donation | 20,000 |
| 20. FINANCIAL INSTRUMENTS | 20. FINANCIAL INSTRUMENTS | 20. FINANCIAL INSTRUMENTS | 20. FINANCIAL INSTRUMENTS | |||||
|---|---|---|---|---|---|---|---|---|
| The carrying amounts ofthe charity's | financial instruments | are as follows: | ||||||
| 2022 | 2021 | |||||||
| E | f | |||||||
| Financial assets | ||||||||
| Measured at fair value through | SOFA: | |||||||
| -Cash at bank and | in hand | 745,000 | 757,000 | |||||
| Debt instruments | measured | at | amortised | cost | ||||
| -Trade debtors | 18,000 | 5,000 | ||||||
| -Other debtors | 42,000 | 45,000 | ||||||
| Financial liabilities | ||||||||
| Measured at amortised cost: |
||||||||
| -Trade creditors | 3,000 | 43,000 | ||||||
| -Other creditors and accruals | 574,000 | 458,000 | ||||||
| Measured at fair value through -Bank loan |
SOFA: | 24,000 | 42,000 |
| 1. ANALYSIS OF NET ASSETS BETWEEN | FUNDS | ||
|---|---|---|---|
| Unrestricted funds |
Restricted funds | Total | |
| 2022 | 2022 | 2022 | |
| E | E | E | |
| Fixed Assets | 70,000 | 70,000 | |
| Debtors | 105,000 | 105,000 | |
| Cash at bank | 745,000 | 745,000 | |
| Creditors (due within one year) | (577,000) | (577,000) | |
| Creditors (due more than one year) | (24,000) | (24,000) | |
| 319,000 | 319,000 | ||
| Unrestricted funds |
Restricted funds | Total | |
| 2021 | 2021 | 2021 | |
| E | E | E | |
| Fixed assets | 61,000 | 61,000 | |
| Debtors | 95,000 | 95,000 | |
| Cash at bank | 672,000 | 85,000 | 757,000 |
| Creditors (due within one year) | (501,000) | (501,000) | |
| Creditors (due more than one year) | (42,000) | (42,000) | |
| 285,000 | 85,000 | 370,000 |