COMPANY REGISTRATION NUMBER: 07767690 CHARITY REGISTRATION NUMBER: 1148670 Guru Nanak Society Of London Trust Company Limited by Guarantee Financial Statements 30 August 2025 TAXA ITED Chartered accountants & statutory auditors The Grange, 1 Central Road, Morden, England, Surrey SM4 5PQ
Guru Nanak Society Of London Trust Company Llmited by Guarantee Flnancial Statements Year ended 30 August 2025 Page Trustees, annual report (incorporating the directorfs report) Independent auditorfs report to the members Statemenl of financial activities (including income and expenditure account) 14 Statement of financial position Notes to the financial statements 15 16 The following pages do not form part of the financial statements Detailed statement of financial activities Notes to the detailed statement of financial activities 25
Guru Nanak Society Of London Trust Company Limited by Guarantee Trustees, Annual Report {Incorporating the Director's Report) Year ended 30 August 2025 The ttuslees, who are also the directors for the purposes of company law, present their report and the financial statements of the Charity for the year ended 30 August 2025. Rgf¢ren¢è and administrative details Rogi$tered ¢harity narng Guru Nanak Society Of London Trust Charlty reglstratlon number 1148670 Company regl8tratlon number 07767690 Prlnclpal offlce 673 Garratt Lane Wandsworth London SW17 OPB England Reglstered offlce 673 Garratt Lane Wandsworth London SVV17 OPB England Th• Irustoes Mr Gogar Mr Chopra Mr Manocha Mr Sachdev Mr Jagmama (ReSned 10 January 2025) (Appointed 30 September 20241 Audltor Taxaudit Accountants Limited Chartered accountants & statutory auditors The Grange, 1 Central Road. Morden. England, Surrey SM4 5PQ
Guru Nanak Society Of London Trust Company Limited by Guarantee Trustees, Annual Report Ilncorporating the Directorfs Report) (¢oniin¢wdJ Year ended 30 August 2025 structure, governancè and management Governing document The charity is governed by a Constitution adopted in September 2011 and last revised In August 2012. and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The Board of Trustees, holds ultimate responsibility for the overall control and strategic direction of the charity. Trustees offer their lime voluntarily and ceIve no muneratIon or other financial benefits. TTuslee meetings are helrj monthly and follow a formal agenda. De¢isions a made by simple majority vole. These meetings ¢over strategic oversight, risk and reserves management, policy direction, inter- organisalional relations, and performance monitoring. Day-to-day operations and administration are delegated to the Executive Committee. Governanc¢ Trustee meetings are held regularly throughout the year, including informal and operational discussions held in conjunction with weekly religious gatherings and community activities at the Gurdwara. Decisions are generally made collectively by the trustees through majoiity agreement where required. Matters considered by the trustees inclu(Je strateglc oversight, safeguarding. financial management, operational aclivilies. reserves management, Compliance mallers, and the ongoing development and operation of the charity's facilities, including the Soulhall Gurdwara site. Given the size and community-based nature of the charity, the day-to-day administration and operational activities are managed directly by the Iruslees with the support of authorised volunteers and members of the Sangat.
Guru Nanak Society Of London Trust Company Llmlted by Guarantse Trustees. Annual Report (Incorporating the Dlrector's Report) (cotrJllnuÈdJ Year ended 30 August 202S ObjeGtlves and acllvltles The charity's principal objectives are the advancement of the Sikh ligIOn and Ihe promotion of community cohesion through religious. educats'onal. and charitable activities. This is achieved through the provision and maintenance of Guardian faeilib'es and through promoting Sikh philosophy, Punjabi language, Sikh heritage, culture, and religious practices for the benefit of both the Sikh and wider communities. The aims of the charity a.. Organising and celebrating Gurpurbs and significant Sikh religious events Maintaining and operats'ng the Gurdwara and Sikh community facilities Providing facilities for the teaching of Punjabi and Sikh Studies Promoting Sikh values, teachings, and Sikh Rehal Maryada Supporting interfaith dialogue and community engagement Providing community Welfa support and ¢harilable assistance Operating langar {free community kil¢hen facilities) Supporting educational. cultural, and religious seminars and activities Daily religious services and community activities continued throughout the year at the charitys established premises. The trustees confim that they have complied with their duty under Section 17 of the Charrties Act 2011 to have due regard to the Charity Commission's public benefit guidance when planning and undertaking the charity's activities. Trustee Induction and Tralning Most Iruslees have extensive experience and familiarity with the charity's religious and community aclivilies. Newly appointed trustees and volunteers are encouraged to undertake relevant training and development to support the effeve discharge of their responsibilities. Trustees are provided with guidance regarding their legal obligations under charity and company law, including responsibilities relating to safeguarding, fi'nancial oversight, and public benefit requirements. Risk Management Trustees conduct an annual review to identify and assess risks facing the charity. They are satisfied that appropriate systems are in place to miligale these risks. Where necessary, professional advice is sought lo ensure robust intemal controls and risk management procedures. The Iruslees have considered the major financial and other risks faced by the charity and where appropnate have enlisted the help of professional advisors to establish systems and procedures to manage those risks. Rellglous Actlvltles Major Sikh religious observances and Gurpurbs were ¢ebrated during the year in accordance with Sikh traditions and Teli9ious customs. Religious services, kirtan programmes. and community gatherings continued to form a central part of the charity's activities. Volunteers The trustees wish to place on record their sincere appreciation to all volunteers. donors, sewadars.
Guru Nanak Society Of London Trust Company Limited by Guarantse Trustees. Annual Report Ilncorporating the Directorfs Report) (contlnued) Year ended 30 August 2025 and members of the Sangal for their continued support and dedication throughout the year. Their voluntary contributions remain essential to the successful operation of the charity's religious. charitable, and community activities, including the operation of langar services and support for both Gurdwara sites. strategic report The following sections for achievements and performance and finanoal review form the strategic report of the charity. AGhigvements and performance Major Developrnents During the Year & Post Balance She&t Evgn¢$ wara Sitb A significant focus of the trustees during the year continued to be the development and preparation of the charity's second Gurdwara sile known as.. Gurdwara Guru Amar Das Ji Norwood Green. Poplar Avenue, Southall, Middlesex. UB2 4PN. The trustees consider this development to represent a major milestone in the long-term growth and expansion of the charity's religious and charitable activities within Ihe Southall and wider West London Sikh community. The trustees are pleased to report that subsequent to the year end. the Nishan Sahlb (Sikh flagl al the Norwood Green site was respectfully raised on 30 January 2026. formally marking the commencement of limited religious activities at the site. Since that date, the premises have been opened on a controlled and limited basis for Sangat attendance. Maryada observance, prayers, and related religious purposes. The Iruslees emphasise that the site is not yet fully operational for unrestricted public use, as certain remaining construction works. compliance mallers, and operational preparations are still ongoing prior to the formal official opening of the Gurdwara. However, the trustees are pleased lo confirm that religious activities have now commenced at the site and the Soulhall Gurdwara is partially functional and serving the Sangal community. Donations are currendy being accepted both through fixed Golak donation facilities and electronic card payment terminals installed at the premises. The Iruslees believe that comptetion and full operation of the Southall Gurdwara will significantly enhance the charity's ability lo deliver religious, educational, and community services in future years.
Guru Nanak Society Of London Trust Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Reportl (contln4ffj¢Y) Year ended 30 August 2025 Flnanclal revlew The charity Continues to be primarily funded through donab'ons and offerings received from memters of the Sangat and the wider cornmunty. For the year ended 30 August 2025, the charity recorded total donation income of approximately £406,954. The charity reported a surplus for the year before appropriations of approximately £210,124. During the year. expenditure continued to be incurred on repairs and maintenance, langar services. financing costs, professional fees. and ongoing capital development work5 relating to the Southall site. Capital additions during the year amounted to approximalely £83,907 relating primarily lo ongoing property and development expenditure. Reser¥e5 poIIcy The trustee5 recognise the importance of maintaining adequate reserves to ensure th8 continued financial stability and sustainability of the charity. The charity seeks to maintain sufficient unrestricted reserves to support ongoing operabons, meet fi'nancial obligations and loan repayments. maintain religious facilib'es, and support future developmenl and expansion projects. The trustees regularly review the resetwes position as part of their ongoing financial oversight responsibilities.
Guru Nanak Society Of London Trust Company Limited by Guarantee Trustees, Annual Report Ilncorporatlng the Dlrector's Report) (contlnu•dJ Year ended 30 August 2025 Plans for future periods The Iruslees intend to continue developing and expanding the charity's religious and community aGlivitie5 over the coming years. Key priorities include.. Completion and formal opening of the Soulhall l N0c4)d Green Gurdwara site Expansion of religious and educational programmes Continued investment in Gurdwara facilities and infrastructure Enhancement of digital donation systems and financial controls Ongoing maintenance and improvement works at existing premises Continued promotion of Sikh teachings, heritage. and community integration The trustees remain committed to ensuring that the charity continues lo serye both the Sikh and wider mmunitie5 effeGlively and sustainably. Trustees. responsibilities statement The trustees. who are also directors for the purposes of company law, are responsible for preparing the trustees, report and the financi81 statements in accordance with applicable law and Unrted Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the charity trustees lo prepare financial statements for each year which give true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources. including the income and expenditure. for that period. In preparing these financial slalements. the trustees are required to.. select suitable accounting policies and then apply them Gonsistentty,. observe the methods and principles in the applicable Charities SORP., make judgments and accounts'ng estimates that are reasonable and prudent.. stale whether applicable UK Accounting Standards have been followed, subject to 8ny material departures disclosed and explained in the financial stslemenls- prepare the financial statement5 on the going concern basis unless rt is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the charity's transactions and disclose with reasonab accuracy al any time the financial position of the charity and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention and deteclion of fraud and olher i(regularities.
Guru Nanak Society Of London Trust Company Limited by Guarantee Trustses. Annual Report (Incorporating the Director's Report) (contlnued) Year ended 30 August 2025 Auditor Each of the persons who is a trustee at the date of aPPToval of this report confirms that.. so far as they are aware, there is no relevant audit informalion of which the charity's auditor Is unaware-, and they have taken all steps that they ought lo have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charty's auditor is aware of thal information. The Iruslees. annual report and the strategi¢ report were approved on 26 May 2026 and signed on behalf of the board of trustees by.. Mr Gogar Trustee Mr Chopra Trustee
Guru Nanak Society Of London Trust Company Limited by Guarantee Independent Auditor's Report to the Members of Guru Nanak Society Of London Trust Year ended 30 August 2025 Oplnion We have audited the financial statements of Guru Nanak Scciety Of London Trust (the 'charitll for the year ended 30 August 2025 which comprise the statement of financial actsvities (including income and expenditure account), statement of financial position and the related notes. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland Iunited 'ngdoM Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charity's affairs as at 30 August 2025 and of its incoming resources and application of resources. including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Klngdom Generalty Accepled A¢¢ounting Practice.. have been prepared in accordance with the requirements of the Companies Act 2006. Basi$ for opinion We have been appointed as auditor under section 144 of the Charities A¢t 2011 and report in accordance wlh the Act and relevant regulations m&le or having effect Ihereunder. We conducted our audit in attordance with International Standards on Auditing (UK) IISAS IUKII and applicable law. Our responsibilities under those standards are fijrther described in the auditor's responsibilities for the audit of the financial ststements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is suffi'cRnt and appropriate to provide a basis for our opinion. Conclusions relating to going ¢on¢ern In auditing the financial statements. we have ¢on¢luded that the trustees. use of the going ¢on¢ern basis of acGounting in the preparation of the finan¢ial ststemenls is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least fftfve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Iruslee5 Wlth respect to going concern are described in the relevant sections of this report.
Guru Nanak Society Of London Trust Company Limited by Guarantee Independent Auditor's Report to the Members of Guru Nanak Society Of London Trust (eontlftt*d) Year ended 30 August 2025 Other Infomiation The other information comprises the information included in the annual report, other than the financial 5tstements and our auditorfs report thereon. The trustees are responsible for the other information. Our opinion on the financial statements doe5 not cover the other information and, exp1 to the extent otherwise explicitly stated in our report, we do not express any form of a5suran¢e conclusion Ihereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsislenl wlh the financial statements or our knowledge obtained in the audit or otherwise appears lo be materially misslaled. If we identify such material inconsistencies or apparent material mi55tstements, we are required to determine whether there is a material misstatement in the financial statements or 2 material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information. we are required to port that fact. We have nothing to report in this regard. Opinions on other matter8 pre8crlbed by the Companle8 Act 2006 In our opinion, based on the work undertaken in the course of the auditr. the information given in the trustees, report for the financial year for which the financial statements are prepared is consistent with the financial slalements.. and the trustees, report has been prepared in accordance wf(h applicable legal requirements. Matters on whlch wg are requlrod to rèport by oxceptlon In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identsfi'ed material misstatements in the trustees, report. We have nothing lo reFXIrt in respect of the following mallers in relatn to whiGh the Companies Act 2006 requires us to report lo you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branche5 riot visited by us., or the financial staternents are nol in agreement with the accounting records and returns- or certain disdosures of trustees, remuneration specified by law are not made.. or We have not rec8ived all the information and explanations we require for our audit.
Guru Nanak Soclety Of London Trust Company Limitsd by Guarantee Independent Auditor's Report to the Members of Guru Nanak Soclety Of London Trust IntInUeI Year ended 30 August 2025 Respon6lbllltle$ of trustoes As explained more fully in the trustees, responsibilities statement, the Irustees (who are also the directors for the purposes of company law) are responsible for the preparation of the finaneial statements an¢J for being satisfied that they give a true and fair view, and for such internal control as the Iruslees determine is necessary lo enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the Iruslees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going ¢on¢ern basis of accounting unless the Iruslees either intend to liquidate the charity or to cease operations, or have no realistic allernalive but lo do so. 10
Guru Nanak Society Of London Trust Company Limitsd by Guarantee Independent Auditor's Report to the Members of Guru Nanak Society Of London Trust(¢onllnu•(lJ Year ended 30 August 2025 Auditorfs respon8lbllltle8 for the audlt of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstalemenl, whether due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS {UK} wll aayS detect a material misstatement when It exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic de¢islons of users taken on the basis of these financial statements. Irregularities, including fraud. are instances of non<ompliance with laws and regulations. We design procedures in line with our responsibilities. outlined above. to detect material misslalements in re5PQCt of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Our assessment of the suseeptlbility of the charivs financial statements to material misstalemenl, including how fraud might occur, is considered to be low. This conclusion was reached after the consideration of the following.. Due lo the relallvely slmple business model and low number of transa¢tions within th8 Charity. There are comparatively few unexpected fluclualions in the reported results and balances and any such unexpected items would be speciflcalty inquired into by us; and There are a number of individuals which comprise "managemeny. and therefore there is no single individual who is likely to be able to override controls to effect a fraud. We designed our audit procedures to respond to identified audit risks, including non-compliance wth laws and regulations lirregularilies) that are material lo the financial staternenls. Some of the specific procedures performed lo detect irregularities, including fraud, are detailed below: Obtaining and reviewing for completeness a list of entries and persons considered to be related parties las defined by Financial Reporting Standard 102} and reviewing the ledgers of the Charity for previously unreported related party transactions., Review of transactions and joumals for any indication of fraud or management override. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due lo fraud rather than error. as fraud involves intentional concealment, forger. collusion, omission or misrepresentslion. This port is made solely to the Charitys Trustees, as a body, in accordance with Part 4 of the Charrties IAccounts and Reports} Regulations 2008. Our audit work has been undertaken so that we might slate to the Charity's Trustees those matters we are required lo state lo them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a a body, for our audit work, for this report, or for the opinions we have formed. 11
Guru Nanak Society Of London Trust Company Limited by Guarantee Independent Auditorfs Report to the Members of Guru Nanak Society Of London Trust {conUnued) Year ended 30 August 2025 As part of an audit in accordance with ISAS IUKI, we exer¢ise professional judgment and maintain professional scepticism throughout the audit. We also.. Identify and assess the risks of material misslalemenl of the financial statements. whether due lo fraud or error, design and perform audit procedures Tesponsive to those risks, and obtain audil evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material mis5talement resulting from fraud is higher than for one resuIng from error, as fraud may involve collusion. forgery. intentional omissions, misrepresentations, or the override of inlemal control. Obtain an Ltnderslanding of internal control relevant lo the audit in order to design audit procedures that are appropriate in the circumstances, bul not for the purpose of expressing on opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going conceTn basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exist$, we are required lo draw attention in our auditor's report lo the related disclosures in the financial stslemenls or. if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up lo the dale of our auditor's report. However, future events or conditions may cause the charity lo cease lo continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements. including the disclosures, and whether the financial stslements represent the underfying transactions and events in 8 manner that achieves fair presentslion. 12
Guru Nanak Society Of London Trust Company Limited by Guarantse Independent Auditor's Report to the Members of Guru Nanak Society Of London Trust (contlnuod) Year ended 30 August 2025 We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and 51gnifi¢anl audit findings, including any significant deficiencie5 in internal control thal we identify during our audit. Use of our report This report is made solely to the charity's members. as a body, in accordance with Chapter 3 of Part 16 of the Companies 006. Our audit work has been undertaken so that we might stale to the charity'5 members tho matt rs we are required to state lo them in an auditor's report and for no other purpose. T he fullest extent permilled by law. we do not a¢¢ept or assume Tespon5ibility to anyone other than he charity and the charity's members as a body, for our audit work. for this report, or for the opinions efor Rocky BhaTj I tory Auditor) For and on behalf of Taxaudit Accountants Limited Chartered accountants & statutory auditors The Grange. 1 Central Road, Morden. England, Surrey SM4 5PQ 26 May 2026 13
Guru Nanak Society Of London Trust Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 30 August 2025 2025 Unrestricted funds Total funds 2024 Total funds Noto Income and endowments Donations and legacies Totsl In¢om• 406,954 406,954 406,954 393.782 393,782 406,954 Expendituro Expenditure on charitable activities Total 9xpendirg 196,830 196,830 196.830 196.830 209,670 209,670 Net Income and nel movement In funds 210.124 210.124 184.112 Roconcillation of funds Total funds brought fotward Tolal funds carried forward 3,321,538 3,531.662 3,321,538 3,531,662 3,137,426 3,321,538 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activilies. The note# on pages 16 to 22 fomi of these Ilnjncial stat•ments. 14
Guru Nanak Society Of London Trust Company Limited by Guarantee Statement of Financlal Position 30 August 2025 2025 2024 Note Fixed assets Tangible fixed assets 13 4.928.005 4.893.107 Current assets Cash at bank and in hand 65.769 61,395 Creditors: amounts falling due within one year Net current liabilities 14 328,855 294,125 232,730 4.660,377 263,086 Total assetsloss current Ilabllitles 4.664.919 Creditors: amounts falling dug after more than ong yg•r Net assets 15 1.133,257 1.338,839 3,321,538 3,531,662 Funds ofthe charity Unreslri¢led funds 3,531.662 3.321.538 Total charlty funds 16 3,531,662 3.321,538 These financial statements were approved by the board of twslees and authorised for issue on 26 May 2026, and are signed on behalf of the board by. Mr Gogar Trustee Mr Chopra Trustee Th• not¢$ on pages 16 to 22 fonn part of these financial $tatsm•nts. 15
Guru Nanak Society Of London Trust Company Limited by Guarantse Notes to the Financial Statements Year ended 30 August 2025 General informalion The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 673 Garrall Lane, Wandsworth, London, SW17 OPB, England. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Chartts'es SORP IFRS 10211 and the Companies Act2006. Accountlng pollcles Basls of preparatlon The financial statements have been prepared on the historical ¢osl basis, as modified by the revaluat)n of certain financial assets and liabilities and investment properties measured al fair value through inctsme or expenditure. The financial ststements are prepared In sterling, which is the fun¢lional currency of the entity. Going concem There are no material uncertainties about the charity's ability lo continue. Judgements and key sources of estimation unc•rtainty The preparation of the financial statements requires management to make judgements, estimates and assumplions that affect the amounts reported. These eslimales and judgements are continually VieWed and a based on experience and other factors, including expectations of future events that are believed lo be reasonable under the circumstances. Fund a¢¢ounting UnreStred funds are available for use at the dIsctIon of the trustees lo further any of the charivs purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sub-classes-. restricted income funds or endowment funds. 16
Guru Nanak Society Of London Trust Company Limitsd by Guarantee Notes to the Financial Statements Iconllnu8dJ Year ended 30 August 2025 Accountlng pollcles {eonlirtued) Incomlng resource$ All incoming resources are included in the statement of financial activities when enlitlemenl has passed to the charity., it is probable that Ihe ewnomic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following Specif policies are applied to partiGular categories of income.. income from donations or grants is recognised when there is evidence of entiuement lo the gift, receipt is probable and ils amount can be measured reliably. legacy income is recognised when receipt 15 probable and entitlement is established. income from donated goods is measured al the fair value of the goods unless this is impractical to measure reliably, in which Gase the value is derived from the cost lo the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if Ihe v?lue can be reliably measured. No amounts are included for the conlribulion of general volunteers. income from contracts for the suppty of seTvi¢es is recognised with the delivery of the onlra¢ted service. This is classified a5 unrestricted funds unless there is a contractual quirement for il to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restsicted. Resources expendod Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which Gannot be fully recovered. and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the ¢osts of all fundralsing activities. events, non- charitable trading activities, and the sale of donated goods. expenditure on charrtable activities includes all costs incurred by a charity in undertaking activities that further rts charitable aims for the benefi't of its beneficiaries, including those support costs and costs relating lo the governance of the charity apportioned lo charitable aclivilies. other expenditure includes all expenditure that is neither related lo raising funds lor the charity nor part of ils expendrture on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs atlribulable to a single activity are allocated directly to that activity. Shared Costs are apportioned beeen the activities they contribute to on a reasonable. justifiable and consistent basis. Tanglble assets Tangible assets are initially recorded at cost. and subsequently stated al cost less any accumulated depreciation and impairment bsses. Any tangible assets carried at revalued amounts are recorded at the fair value al the dale of revaluation less any Subsequent accumulated depreciation and subsequent a¢cumulated impairment losses. 17
Guru Nanak Society Of London Trust Company Llmited by Guarantee Notes to the Financial Statements (conllnu8dJ Year ended 30 August 2025 A¢¢ounting policles (contlnued) Tangible assets fconllnuedl An increase in the carying amount of an asset as a result of a revaluation, is reeognised in other recognised gains and losses, unles$ it VerSe$ a charge for impairment that has previously been recognised as expenditure within the statement of financial aclivitr'es. A decrease in the carrying amount of an asset as a result of revaluation, is re¢ognised in other recognised gains and losses, except to which il offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. D&pre¢l•tlon Depreciation is calculated so as lo wnte off the cost or valuation of an asset, *s its residual value, over the useful economic life of that asset as follows.. Freehold property Long leasehold property Fixtures and fitting5 1% straight line 999 years 25 % reduGing balan Impaimient of fixed asset8 A Teview for indicators of impaimient is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired a¢¢ordingly. Prior impairments are also reviewed for possible reversal al eaGh pOrting dale. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unit lo which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that Includes the asset and generates cash inflows that largely independent of the eash infl¢)ws from other assets or groups of assets. Flnanclal Instruments A financial asset or a financial liability is recognised only when the Charty beoomes a party to the contractual provisions of the instrument. Baslc financlal Inslruments are initially recognised at the amount CeIVable or payable including any related transaction ¢osts. Current assets and current liabilities are subsequently measured al the Cash or other consideration expected to be paid or received and not discounted. Debt inslrumenls a subsequently measured at amortised ¢osL 18
Guru Nanak Society Of London Trust Company Limited by Guarantee Notss to the Financlal Statements (conllnued) Year ended 30 August 2025 Accountlng poli¢ios (¢onUnv Financlal Instruments {con¢inu¢dJ Where investments in shares are publicty traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives. are initially recognised al falr value. unless payment for an asset is deferred beyond nomial business lemis or financed at a rate of interest that is not a market rate, in which case the asset is measured al the presenl value of the fLrture payments discounted al a market rate of interest for a similar debt instrurnent. Other financial instruments are subsequently measured at fair value, wth any changes recognised in the slalement of financial activities, wlh the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objeGtive evidence of impairment at the end of each reporting dale, If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardle$$ of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impaimient are cOgniSed immediately, lo the extent thal the reversal does not result in a carrying amoulll of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Limited by guar¥nts8 The Charity is limiied by guarantee. Donations and 1gga¢io$ Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Donations Donations 4C6.954 406,954 393.782 393,782 Donations and lega¢le$ contlnued Donations include £15,348 {2024: £2,020) representing the estimated fair value of food and related goods donated by members of the Sangat Icongregationl for the preparation of free hot meals served through the Gurdwara Langar services. The corresF)onding amounts have been included within Langar expenses under direct charitable aclivilies. 19
Guru Nanak Society Of London Trust Company Limited by Guarantee Notes to the Financial Statements (conllnuod) Yèar ended 30 August 2025 Expendlture on charitable actlvltles by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Current year acitivity Support costs 17,848 178,982 17.848 178,982 196,830 2,020 207,650 209,670 2.020 207.650 209,670 196,830 Expendllure on charltable a¢tlvltles by actlvlty type Activities undertaken directly Support Costs Tolal funds 2025 Total fund 2024 Current year acitivity Governance costs 17.848 17.848 178,982 2,020 207,650 209,670 178,982 178.982 17,848 196.830 Net Income Net income is stsled after chargingl{¢redltingl'. 2025 2024 Oeprecialion of tangible fixed assets 49,009 70.460 10. Auditors remuneration 2025 2024 Fees payable for the audit of the financial statements 6.000 6.000 11. Stsff costs During the year, no priest was hired to perform re1lOuS Services for the Sangal. All religious duties and ceremonies were voluntarily conducted by members of the community. As such, no expenditure was incurred for priest services during the financial year. The average head count of employees during the year was Nil12024.' Nill. 12. Trustee remunoration and 8xpenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustee5. 20
Guru Nanak Society Of London Trust Company Limited by Guarantee Notes to the Financial Statements (¢onlinued) Year ended 30 August 2025 13. Tanglble flxed assets Long leasehold Fixtures and property fittings Freehold propety Total Cost At 31 August 2024 Additions 4,253.215 83.907 667,524 68,730 4,989,469 83,907 5,073,376 At 30 August 202S Depreclatlon Al 31 August 2024 Charge for the year At 30 Augu8t 2025 Carrylng amount At 30 Augu8t 2025 At 30 August 2024 4,337.122 667,524 68.730 42.532 42.946 6,682 668 47,148 5,395 52,543 96,362 49,009 14S,371 85.478 7,350 4,251.644 4.210.683 660,174 660,842 16,187 21,582 4.928,005 4,893.107 14. Creditors: amounts falllng due wlthln one year 2025 2024 Bank loans Trade creditors Accruals 316.855 6.000 6,000 288,125 6.000 294.125 328,855 15. Creditors: amounts falling duo after more than one year 2025 2024 Bank loans and overdrafts 1,133.257 1,338,839 21
Guru Nanak Society Of London Trust Company Limited by Guarantse Notss to the Financial Statements {conllnu8d) Year ended 30 August 2025 16. Analysis of charltablo funds Unrestrlcted lund8 At 31 August 20 24 At 30 August 20 25 Income Expendsture General fvnds 3,321,538 4C6,954 1196,8301 3,531.662 Al 31 August 20 23 Al 30 August20 24 Income Expendiluie General funds 3.137,426 393,782 {209.670} 3.321,538 17. Analysls of net assets between funds Unrestricled Total Funds Funds 2025 Tangible fixed assets Current a55els Creditors less than 1 year Creditors greater than 1 year Net assets 4,928,004 4,928,004 65,769 65,769 {328,8541 1328,8541 11.133,2571 11,133,257) 3,S31,662 3,531,662 Unrestricted Totsl Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 4,893,107 4,893,107 61.395 61,395 1294,125) 1294,125) 11,338.839) 11,338,839) 3,321.538 3,321,538 22
Guru Nanak Soclety Of London Trust Company Limited by Guarantee Management Information Year ended 30 August 2025 The followlng pages do not form part of Ihe flnanclal staternonts. 23
Guru Nanak Society Of London Trust Company Llmlted by Guarantse Detailed Statsment of Financial Activilies Year ended 30 August 2025 2025 2024 Income and endowmonts Donatlons and lega¢i¢s Donations 406.954 393,782 Totsl iDcomo 406,954 393.782 Expenditure Expenditure on charitable activities Rates and water Light and heal Repairs and maintenance Insurance Other establishment Legal and professional fees Telephone Depreciation Other interest payable and slmilar charges Kitchen Langar Donation 535 14,975 3,926 2.219 2.208 10.077 205 49,010 95,827 15,348 2,500 196,830 878 15,735 1,057 2,166 2,507 8,267 70,459 106,581 2,020 209.670 Total expendlture 196.830 209,670 Net Incomg 210,124 184,112 24
Guru Nanak Society Of London Trust Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 30 August 2025 2025 2024 Expendlture on ¢haritable •ctivities Current year acltivlty Activities undertaken dlractly Direct charitsble activity 1 kitchen langar Direct charitable activity 1- donation 15,348 2,500 17,848 2.020 2,020 Governance Gosts Governance costs - rates & water Govemance costs - light & heal Governance costs- repairs & maintenance Govemance costs- insurance Govemance costs- cleaning Governan¢e costs- audit fees Governanee costs - legal and other professional fees Governanee eosts - bank charges Governanee etssts- telephone Govemanee costs- éepre¢ialion Govemance costs- other finance costs 535 14.975 3.926 2,219 2,208 6,000 1,579 2,498 205 49,010 95,827 178,982 878 15,735 1,057 2,166 2,507 6,000 2.267 70.459 106.581 207.650 Expendlture on charhable actlvllles 196,830 209,670 25