Company No.: 7745606 CAMBRIDGE SIKH SOCTETY LTD COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS For the ear ended 31st Au ust 2022 Nll 'AC3PRV2A 1710512023 COMP16$ HOUSE A16
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Company No.: 7745606 CAMBRIDGE SIKH SOCIETY LTD COMPANY LIMITED BY GUARANTEE Financial Statements ear ended 31st Au ust 2022 for the Contents Information on trusteesldirectors and professional advisers Report of the Management Board (Trustees) 2to5 Report of the AccountantslIndependent Examiner Statem¢nt of Financial Activities Balance Sheet Noteslschedules to the Accounts 9t014
Company No.: 7745606 CAMBRIDGE SIKH SOCIETY LTD COMPANY LIMITED BY GUARANTEE MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS The Board of Trustees Mr. Ishmeei Singh Arora Mr. Padamjeet Singh Aulakh ** Mr. Kanwalpreet Singh Chanana Mr. Surinder Singh Saint Mr. Harjit Singh Dr. Jalt Singh Srai appointed on 3 Inn022 retired on 311712022 •* Registered OtTice The Grove Arbury Court Cambridge Cambridgeshire CB4 2JQ Aeeountant Independent Examiner Hallbrookes (Accountancy) Ltd. Accountancy & Business Adviser5 14 Elstow Road Bedford MK42 9LA Bankers Lloyds TSB Town Square, Stevenage PO Box l 000 BXI ILT Solicitors NBM Massucco Shelboume Solicitor5 Lincoln House The Paddocks 347 Cherry Hinton Road Cambridge Cambridgeshire CBI 8DH
Company No.: 7745606 CAMBRIDGE SIKH SOCIETY LTD COMPANY LIMITED BY GUARANTEE TRUSTEES ANNUAL REPORT For the vear ended 31st Au ust 2022 Structure Governance and Mana ement The trustees. who are also directors for the purposes of the Companies Act. have pleasure in presenting their pOrt and the financial statements of the charity for the year ended 31, August 2022. Constitution Cambridge Sikh Society Ltd is constituted under the Memorandum and Articles of Associalion dated 18 August 2011 (amended on 14 Novernber 2011) and is a registered charity No. 1144781. Cambridge Sikh Society Ltd is an incorporatrd charity and the company registrdtion number is 7745606. Trustees Selection Methods Appointed or elected by The Gurdward'5 Sadh Sangat (people who have faith in Sikhism). charitable Ob ettives and Activities The objects of the Gurdwara shall be to advance the Sikh religion among the residents of Cambridge and the neighbourhood by providing and furnishing a place of worship and to advance education and reliev¢ poverty among the Sikh community. l. To hold regular Diwan (congregations) and celebrate Gurpurbs. 2. To conduct ceremonies in accordance with accepted Sikh religion rites. 3. To organize educational activities for the benefit of the Sikh Community. 4. To maintain the Gurdwara. S. To do all such other things as are necessary for the attainmeni of the said objectives.
Company No.: 7745606 CAMBRIDGE SIKH SOCIETY LTD COMPANY LIMITED BY GUARANTEE TRUSTEES ANNUAL REPORT (tontinued) For the ear ended 31st Au ust 2022 Aehievemenls and Perforniance 10 3110812022 l. For many years ihe Cambridge Sikh Society Limiied (a non-incorporated charity) held Sikh Pfdyers in a hired hall but from June 2012 a pernianent site was purchased in Arbury COUQ Cambridge. CB4 2JQ and renovaced as a '"Gtsrdwara" with a formal opening ceremony held on 2010112013 at this new site. Full improvements/renovation costs are reflected in this reportlaccounts. 2. To further improve religious education in the Sikh faith. learned voluntary participants from within the congregation perform prayer services. Keertan and Katha on the teachings of Siri. Guru Granth Sahib Ji. including (reintroduction post-covid) tuition on Gurmukhi language and expert instruciion in Keertan musical instruments. Religious ceremonies are perfom)ed daily. with main congregational services held once a week on Sunday. with major festival celebrations (e.g. Vaisakhi, Bandi-chor Diva5, Gurpurabs) marked on the day. 3. Giannis. Katha Vachiks. Dhadi Jaihas etc. are called to enhance religious ceremonies. In addition, speakers from the wider Sikh community are invited to provide insights on Sikhism and perforni Keertsn during major events in the Sikh calendar. with events CaptUd on national Sikh media channels. 4. The free community kitchen Langar. which undertook a food safety and hygiene audit in January 2019 resulting in a 5 Ihigh¢st possible) hygiene score, continues to operaie on a volunteer b&5is. Langar activities have now extended to "in the community, food provision to the homeless in the City. in cooperation with local Universities. Sikh students societies. 5. We continue to provide free4)f-charge clwes to local schools. educational institutions and inter-faith groups on the basics of Sikhism. This activiry has now seen some two thousand local children visit ihe Gurdwarn over recent years. The Gurdwara also participates in local inter-faith community and education (SACRE) forums providing a source of support as well as knowledge regarding the Sikh faith. Chaplaincy support links now established with local universities, h0o1$. hospitals. prisons and alort. 6. Ongoing site improvement continues to benefit from 5ignifJcant volunteer effort and has this year seen renovation and painting of exlernal areas. Following a successful grdnt application for £25k. supplemented by student-led funding of £5k for site security enhancements, impl¢mented in 2021. additional small grant applications hav¢ b¢en made. A successful match-fiinding grant from Cisco was secured in carly 2022. 7. Premises are routinely audiied for Fire-safery and Ga5-safety. In 2021, following a 'comprehensive audit of electrical installations, certification was completed in October 2021. This also involved installation of a complete set of new fuse boxes to the latest regulatory standards. new light-switch panels. and additional sockets.
Company No.: 7745606 CAMBRIDGE SIKH SOCIETY LTD COMPANY LIMITED BY GUARANTEE TRUSTEES ANNUAL REPORT (continued) For the ear ended 315t Au ust 2022 Chari 's Poli on Reserves The Charity's current resetves policy is to maintain sutricient eash flow for known commitments, be they for religious services, site operating costs. site maintenance and upgrades. Despite ihe unprecedented Lockdown restrictions faced in 2020 (and subsequently). and the consequent reduction in Saftgat congregation visitor numbers. the Trustees hav¢ continued to invest in Sunday services throughout the year and used fund-raising campaigns to support additional invesiments in building improvements. Financial Review The main source of funds are the donations from the Sadh Sangat and remains positive and responsive. We thank the Sikh community for their continued financial support that has allowed the progressive reduction of outstanding loans. substantially ahead of lender requirements. Overall income to the Gurdwara now exceeds pre-pandemic levels and has allowed the trustees to expand religious events and services, upgrade facilities and further reduce outstsnding loans. Investments The trustees. investmeni powers are governed by the Memorandum and Articles of Association. Future Plan The Gurdwara building h&5 been operational from 2010112013 and the forward development of more extensive community activities and facilities 15 under discussion with the Sangat (con8regation). Previous successful grant applications for site improvements were Completed in 2021. made p)ssible by an associated fund-raising campaign undertaken by the Gurdwara and Cambridge University Sikh students. Further 5mall_grant applications have been made including a successful Cl0 match_funding programme. Improvements io internal facilities, including electrical works (completed) and resid¢n¢¢ areas (building approvals Secured) are ongoing. Future building developments are now being considered based on a wTrsilive financial position. with in¢ome now exceeding P-pandem1c levels. Risks The Board examines the major risks that the charity faces each year when preparing and updating the strategic plan. The charity has developed systems to monitor and control these risks to rnitigaie any impact they may have on the charity in the future. This has been critical in this second year of COVID-19 disruption where we have maintained religious services to the maximum level possible. whilst also investing in building improvements by fund-raising and grant application. enabling reserves to be maintained at nornial levels. Results The results for the year, th¢ financial position of the Company and the iran5fer of funds are shown in the annexed accounts.
Company No.: 7745606 CAMBRIDGE SIKH SOCIETY LTD COMPANY LIMITED BY GUARANTEE TRUSTEES ANNUAL REPORT (continued) For the ear ended 315t Au ust 2022 Statement ofTrusteeslDirectors Res onsibilities The trustees are required by law to prepare accounts for each financial year, whicb give a true and fair view of the financial activitie5 of the charity and its financial position at the end of ihat year. In preparing those 2¢counts the ttustees aff required to: Select suitable accounting policies and then apply them consistently. observe the methods and princlples in the charities SOiiP" Make judgments and estimates that are reasonable and prudent; State whether applicable accounting standards and statement5 of recoinmended PTacti¢¢s have been followed subject to any inaterial departures disclosed and explained in the accounts: Prepare the accounts on ihe going concern basis unless it is inappropriate to presum¢ that the charity wfftll continue in operaiion. The tnistees are responsible for keeping aecountin8 records. wbich disclose with reasonable accuracy the financial position of the charity and which enable them to ascenain the financial position of the charity and which enable them to ensu that the accounts comply with applicable law and regulations. They are also re5wnsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and delection of fraud and oiber iffegularities. AeeountantstInde ndent Exanthier Messrs. Hallbrookes (Accountancy) Ltd. are willing to continue in office as Accountants for the ensuing year 202212023. This repK)rt was approved by the trustees on ..-. . and signed on their behalf. Name Dr Jalt Singh Srai (Direclorrrnjstee)
Company No.: 7745606 CAMBRIDGE SIKH SOCIETY LTD COMPANY LIMITED BY GUARANTEE Inde endent Examiners, Re ort to the Dire¢tOTS of Cambrid e Sikh Socie Ltd I report lo the charity trustees on my examination of the accounts of Cambridge Sikh Society Limited for the year ended 31 st August 2022. which are set out on pages 7 to 14. Responsibilities and Basts of Report As the charity's trustees of the company (and also its directors for the purposes of company law) you are resFK)nsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('Mhe 2006 Act'j. Having been satisfied that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, E report in re5t of my examinaiion of your chariry's accounts as caffied out under s. 145 of the Charities A¢i 2011 (the 201 l Act')- In carrying out my examination I have followed the Directions given by the Charity Commission under s. 145 (5) (b) of the 201 l Aet. JndependeDt Examiners. Statement I have completed my cxamination. I confirni that no matters have come to my att¢ntion in conneciion with the examinaiion giving me cause to believe.. Accounting records were not kept in respect of the company as required by s.386 of the 2006 Act. The accounts do not accord with those accounting records the ac¢ount5 do not comply with the accounting requirements of s.396 of the 2006 Act other than any requirement thai the aceounts give a 'mie and fair. view which is not a matter eonsidered as part of an independent examination" or The accounts have not been prepared in accordance with the methods and principl¢s of the Statement of Recommended Praclice for accounting and reporting by charities (applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)- I have no Concerns and have com¢ a¢r()ss no other matters in connection with the examination to which attentions hould be drawn in this report in order to enable a proper understsnding of Ihe aOunts to be r ached. (Fomon Singh FFA. FtPA, FAIA. MAAT) Hallbrookes (Accountancy) Limit¢d Accountaney and Business Advisers 14 Elstow Road, Bedford, MK42 9LA Date: If
Company No.: 7745606 Cambrid e Sikh Socie Ltd Co an Limited B Guarantee Stattment of FÈnancial Attivities for the ear ended 31st Au ust 2022 2022 2021 Unrestrieted Funds Restricted Fund$ Total Funds Total Funds Notes INCOMING RESOURCES Donation5 and fundrdising Subscriptions I tax relief.on Gift Aid (2) 26.842 3.902 26,842 3.902 16,940 2585 Rent Received 13.535 13,53) 8,099 TOT AL INCOMING RESOURCES 44.279 44.279 27,624 RESOURCES ExPEDED ChAritable expenditure: Management and administration 25.069 25,069 23,825 TOT AL RESOURCES EXPENDED (3) . 25.069 25,069 NET INCOMING RESOURCES FOR THE YEAR 19.210 19,210 3,799 Balance brought forward 257212 257212 253,413 Balance carried forward 276.422 276,422 257212 The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derived from continuing activili¢5.
Company No.: 7745606 Cambrid e Sikh Socie Ltd Com Lirnited B Guarantee Balan Sheet as at31st Au st 2022 21122 2021 Notes Fixed Assets Tangible Assets (4) 317,247 317,807 Currenl Assets (io 2,585 DebtorslPrepayments C&sh at Bank and in Hand 2.700 17.434 20.134 3.929 6,514 Creditors: arnounts dve within one e¥Jr {8) 2.715 Net current liabilities 17.419 334,666 320,403 CrltorS. amounts due after one ear (9) (58,244) (63,191) Net Assets 276,422 257,212 Fingnced b Add.. Surplus Income over Expenses Accumulated Funds B/fwd 19.210 257.212 3,799 253,413 Total Funds 276,422 257,212 For the year ended 31 st August 2022 the charitable company was entitled to exemption unLkr section 477 of the Companies Act 2(Kl6. Directors. responslbilities: The members have not required the company io obtain an audit of its accounts for the year in question in accordance with scction 476 of the Companies Act 2(M)6. The directors acknowledgc their SponsIbl11t1cS for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance wlth the provisions applicable to companies subject to tbe small companies regime. These Financial Statements were approved by the Directorsrrrustees orj ..... "were signed by: ..and l)K Jer<7,f SICek SEIFI
Company No.: 7745606 CAMBRIDGE SIKH SOCIETY LTD COMPANY LIMITED BY GUARANTEE Notes to the Financial Statements For the ear ended 31st Autsust 2022 (i) ACC POLICIES Basis of Accounts The financial slalements have been prepared in accordance with Accounting Reporting by Charitie5.' Statement of Recommended Practice applicable to charities preparing their accounts with the Financial Reporting Stsndards applicable in the UK and the Republi¢ of Ireland (FRS 102). the Charities Aci 201 l and applicable regulations. Incomin R¢source Incoming resources are recognised in the statement of financial activities when enlitlemeni has pass¢d to the charity and the amounts are certain and measurable. Any incoming resoLtrces received that relate exclusively to future periods are deferred on the Balance Sheet. Resource ended Expenditure is recognised in the statement of financial activities when a liability is incurred or increased without a commensurate increase in rewgnised assets or a reduction in liabilities. AllatiOn of Costs Direct Activity Costs comprise those costs that contribute direetly to an aetivity and a allocaied to the relevant activity. Support Costs compri thos¢ costs that are nec¢ssary to d¢liver an activity but in th¢m5elves do not produce or deliver an activity. Governance Costs are those costs ineurred io meet statutory and constitutional requ1Ments. Funds (a) Unrestricted funds. which are credited to the Income and Expenditure accounts are nomially exndable at ihe discretion of the management. (b) Restricted funds. which are for specific purposes declared by the donors, are credited to the Income and Expendiiure account when received and debited to the same account when paid. (c) Designated funds represent funds set aside by the Management Committee for specific purposes.
Company No.: 7745606 CAIVIBRIDGE SIKH SOCIETY LTD COMPANY LIMITED BY GUARANTEE Notes to the Finaneial Statements (continued) For the ear ended 3151 Au ust 2022 ACCOUNTING POLICIES continued Liabili Reco ition Liabililies are recognized as soon as there is a legal or constructive obligation ommitting the charity to pay out resources. Mana ement Costs Management costs includ¢ the governance costs of the eharity. these being the costs of the preparation.and audit of the staruiory accounts {including independent examinaiion). the costs of trustee's meetings and the costs of any legal advice tr) trustees on governance or constitutional matters. reciation The rates of depreciation used to write off the cost of tangible fixed &ssets over their expected useful live5 are= Building Improvements Fixture & Fittings and Equipment 20/¢+ per annum of costs 250/0 per annum of costs No depreciation has been allowed on Buildings in the year 2022. The trustees decided in the curtnt year that Building Improvements should be depreciated at the rate of 20/0 per annum, and this has resulted in an adjustment to the charity's reserves. (2) DONATIONS 2022 Total Funds Unrestricted Funds Restricted Funds Donation5 26 26 10
Company No.: 7745606 Cambrid e Sikh Socie Ltd Com an Limited B Guarantee otes to the Financial Statements for the ear ended 31st Au ust 2022 (3) TOTAL RESOURCES EXPENDED 2022 Total 2021 Total Basis of Allocation Governance Costs directl allocated to activities Accountancy fees Direct PostagelTelephonelAdvertising Direct Functions & Donations Direct Direct 900 278 4.489 900 278 4.489 850 148 3,166 ort Costs alloeated to ?¢tivities Premises Insurance MotorlTravel Kitchen Expenses R¢pairs & Renewals Sundries Mortgage Interest Depreciation Floor Arca U53ge Usage Usage Usage Usage Transactions Usage 9,619 593 884 1.213 3.968 9.619 593 884 1,213 3.968 8.788 554 400 1,648 4.773 527 1.917 1.054 2.035 1,090 2,035 1,090 Total resources expended 25,069 25,069 23.825 Net Ineoming Resources for the year This is stated after charging: 2022 2021 Accountants, remuneration Depreciation 900 1,090 850 1,054
Company No.: 7745606 Cambrid e Sikh Societ Ltd Com 2nv Limited B Guarantee Notes to the Financial Statements for the ear ended 31st Au ust 2022 (4) TANGIBLE FIXED ASSETS Land & Buildin rovementy rntt . Total COST Additions 281,485 41,552 4.960 530 327,997 530 At 31st Augusl 2022 28148) 328 527 Blhvd Charge for the year 6.232 706 3.958 384 10.190 At 31st August 2022 6,938 4.342 11.280 NET BOOK VALUE At 31st August 2022 281485 317.247 Buildings for the charity are valued at cost as they are treat as charitable assets and not investment asset. (5) STAFF NUMBERS AND COSTS 2022 2021 The charity had employees {6) TRUSTEE REMUNERATION & RELATED PARTY TRANSACTIONS No trusl¢e or other person related to the charity rec¢iv¢d any remuneration during the year. No trustee or other person related to the charity had any personal interest in-any contract or "transaction entered by the charity during the year. 12
Company No.: 7745606 Carnbrid e Sikh Socie Ltd Com an Limited B Guarantee Notes to the Financi21 St2tements for the ear ended 31st Au ust 2022 (7) T AXATION As a Charity, Cambridge Sikh Society Ltd is exempt from tax on income and gains falling within Section 505 of the Taxes Act 1988 or s.256 of the Taxation of Chargeab'le Gains Act 1992 to the extent that these are applied to its charitable obje¢ts. No tax charges have arisen in the Charity. (8) CREDITORS . Amounts fallitt due within one 2022 2021 Accruals 2,715 3.918 2,715 3.918 (9) CREDITORS . Amounts fallin due after ont 58,244 63.191 58.244 63,191 A security is held over the mortgage by way of a charge over the freehold land and buildings. (10) DEBTORS AND PREPAYMENTS 31108r2022 3110812021 Debtors - Gift Aid reclaim Prepayments 2,700 2.535 50 13
Company No.: 7745606 Cambrid e Sikh Socie Ltd Com an Limited B Guarantee Notes to tbe Financial Statements for the ear ended 31st Au ust 2022 (I I) ANALYSIS OF NET ASSETS BETWEEN FUNDS 2022 2021 General Funds Restricted Funds Total Fund5 Total Funds Tangible fixed ass¢ts Debtors Cash at BankJHand Long-tenn Liabilities Current Liabilities 317247 2.700 17.434 (58.244) (2.715) 317,247 2,700 17,434 (58,244) (2,715) 317.807 2.585 3,929 (63.191) (3,918) Nei assets at 3 1st August 2022 276,422 276.422 257,212 (12) COMPAIYY LIMITED BY GUARAKfEE The Cambridge Sikh Society Ltd is a company limit¢d by guarantee and does not have a share capital under the provision5 of section 30 of th¢ Companies Aci 2006. Financial statements are r4uired to be filed annually wilh the Regisirnr of Companies. 14