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← Holy Mission Of Guru Nanak

2024-12-31-accounts

Charity number: 1151738 Company number: 08026761 (England and Wales)

Holy Mission of Guru Nanak Report of the Trustees and Unaudited Financial Statements For the year ended 31 December 2024

Page 1

Holy Mission of Guru Nanak

Contents Page

For the year ended 31 December 2024

Reference and Administrative Details 3
Report of the Trustees 4 - 7
Independent Examiner's Report to the Trustees 8
Statement of Financial Activities 9
Statement of Financial Position 10
Notes to the Financial Statements 11 - 17

Page 2

Holy Mission of Guru Nanak Reference and Administrative Details

TRUSTEES Ms M Chandiramani Mr M Panjabi Mr R Ramnani Mr S Tinani Prof N Ramnani Mrs R Meswani appointed 06 Jan 2024 REGISTERED OFFICE Sindhi Community House 318 Cricklewood Broadway London NW2 6QD REGISTERED COMPANY NUMBER 08026761 REGISTERED CHARITY NUMBER 1151738 INDEPENDENT EXAMINER IPS Accountants & Business Advisors 12 Cavendish House Plumpton Road Hoddesdon EN11 0LB

Page 3

Holy Mission of Guru Nanak Report of the Trustees For the year ended 31 December 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2024.The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015). The board of trustees are satisfied with the performance of the charity during the year and the position at 31st December 2023 and consider that the charity is in a strong position to continue its activities during the coming year, and that the charity's assets are adequate to fulfil its obligations.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The main objects of the charity are:

-to advance the Hindu religion for the benefit of the public (in particular, but not limited to, the Sindhi Community) through the holding of prayer meetings, lectures, public celebration of religious festivals, producing and/or distributing literature to enlighten others about the Hindu religion�

-to provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals (in particular, but not limited to, members of the Sindhi community) who have need of such facilities by reason of their youth, age infirmity or disability, financial hardship or social circumstances, without distinction as to race, nationality, ethnic or national origins or religion with the object of improving their conditions of life; and�

-the prevention or relief of poverty or financial hardship in India and in other parts of the world (including the United Kingdom) by providing or assisting in the provision of food, medical aid, education and/or other basic provisions for those who cannot afford them�

Public Benefit

The Trustees confirm they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit, ‘Charities and Public Benefit’. This was achieved the activities and events carried out throughout the year to the community.

The community welfare needs were also met with the various programs and activities as listed below.

Staffing and Volunteer

Volunteers are the lifeblood of our charity, and we are immensely grateful for their unwavering support. In 2024, we continued to work with over 120 dedicated individuals who generously donated their time and skills to help run our activities. Their daily contributions were instrumental in keeping our services operational, especially during the current challenging climate. The commitment of these volunteers has been crucial in maintaining our community support and engagement.

It's important to note that our trustees, who also serve in a voluntary capacity, receive no private benefit from their roles on the Board. Their dedication, along with that of our other volunteers, is particularly significant as a large proportion of the charity's workload is currently being managed by trustees and voluntary workers.

We extend our heartfelt thanks to all our volunteers whose selfless efforts throughout the year have been invaluable in fulfilling our charitable mission and serving our community.

Page 4

Holy Mission of Guru Nanak Report of the Trustees

For the year ended 31 December 2024

ACHIEVEMENT & PERFORMANCE

Charitable Activities

In 2024, the charity demonstrated significant engagement and growth, reflecting its commitment to social welfare and community improvement.

Key Statistics and Operational Highlights for 2024:

• New Trustee Appointment : In January 2024, Rashmi Meswani was appointed as the first non-Sindhi trustee. Rashmi is a British Wheel of Yoga instructor with two decades of charity and event management experience and has been a dedicated volunteer at the Mandir for over 10 years.

• The Happy Tuesday Project continues to grow for individuals aged 60 and over from all communities, boosting participants' overall well-being (physical, mental, self-confidence, and self-esteem), combating loneliness by providing a safe, supportive space for regular interaction, and cultivating a strong sense of belonging within a special community

Downing Street (the UK Prime Minister's official residence), expressing gratitude for the recognition of the community’s dedication and service.

Page 5

Holy Mission of Guru Nanak Report of the Trustees

For the year ended 31 December 2024

ACHIEVEMENT & PERFORMANCE

Investment performance

In the Financial Review section of this report, there is a description of the investment policies and objectives established by the Trustees and the extent to which social, environmental or ethical considerations are taken into account.

FINANCIAL REVIEW

Financial position

The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). As stated in the introduction to this report, the trustees consider the financial performance by the charity during the year to have been satisfactory.

The Statement of Financial Activities show overall net surplus for the year of £48,766 (2023: £24,216).

The total general reserves carried forward at the year-end were £90,000 (2023: £209,269). In addition, the total designated funds carried forward were £658,823 (2023: £490,789) that represent the charity’s building and equipment as ‘Tangible assets’ of £383,962 and further £274,861 cash as ‘Designated premises funds’ set aside to be used for a planned building works, contingency fund to cover unforeseen cost of building refurbishment, new furniture and equipment and extension of the charity’s premises. There were no restricted funds carried forward at the end of the year.

Principal funding sources

The principal funding sources for the Charity are currently by way of individual donations.

Reserves policy

The trustees have established a policy for the charity's unrestricted funds not committed or invested in tangible fixed assets ('free reserves'). These reserves should be maintained at a level equivalent to 9-12 months of resources expended, which equates to £90,000 in general funds. The Trustees Committee believes that this level of reserves would enable the charity to continue its current activities in the event of unforeseen circumstances.

Current Financial Position

As of the end of the financial year, the total general reserves stood at £90,000. Based on the future plans detailed below, the trustees are confident that there are sufficient funds available to meet the charity's activities in the coming year.

Page 6

Holy Mission of Guru Nanak Report of the Trustees

For the year ended 31 December 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006

The charity was constituted on 24 October 1988 and incorporated on 11 April 2012 and governed by its memorandum and articles as amended by special resolution registered at Companies house on 12 September 2018 and its objects are to apply funds for charitable purposes.

The governing document authorises the Trustees to make and hold investments using the general funds of the charity.

Organisational structure

The Trustees named on page 3 (other than those stated as having ceased to be a trustee on a particular date) have served during the whole of the period from 1 January 2024 to the date of this report. Appointment of Trustees is governed by the Trust Deed of the charity. The Board of Trustees is authorised to appoint new Trustees to fill vacancies arising through death, resignation and removal within three months of the occurrence of the vacancy but at no time shall there be less than three Trustees in office.

In order to spread the workload involved in running the Missions activities, a Management Committee has been established, which takes on much of the work involved in the day-to-day management of events. This is active and working well.

Induction and training of new trustees

As part of their induction program, new Trustees are made aware of their responsibilities.

This includes an introduction to the objectives, scope and policies of the Charity, the Charity

Commission information on Trustee responsibilities and a copy of the Constitution. Additional training is available to keep up with all new regulations concerning the Charity's activities.

Risk management

The Trustees identify the major risks to which the Charity is exposed to each financial year when preparing and updating a strategic plan, in particular, those areas related to the operations and finances of the Charity. The Trustees then review any major risks which have been identified and establish systems to mitigate those risks.

The Trustees have also put in place appropriate internal controls and monitoring procedures, including budgetary control and review to minimise financial risks. To reduce the risk of over expenditure, procedures for authorisation of all transactions and projects exist. To further mitigate the risks, the trustees will carry out periodic reviews of the progress of objectives stated.

Approved by the Board of Trustees and signed on its behalf by

M Panjabi Trustee Date: 8 September 2025

Page 7

Holy Mission of Guru Nanak Independent Examiners Report to the Trustees For the year ended 31 December 2024

I report to the trustees on my examination of the accounts of the charitable company for the year ended 31 December 2024

Responsibilities and basis of report

As the charity Trustees, who are also directors for the purposes of company law, are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself 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, I report in respect of my examination of your charity's accounts carried out under section 145 of the Charities Act 2011 ('The 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiners statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles ofthe Statement of Recommended Practice 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 come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

IPS Accountants & Business Advisors 12 Cavendish House Plumpton Road Hoddesdon Herts EN11 0LB Date:

Page 8

Holy Mission of Guru Nanak

Statement of Financial Activities

(including Income and Expenditure Account) For the year ended 31 December 2024

Notes
Income and endowments from:
Donations and legacies
2
Charitable activities
3
Investment Income
4
Other Income
5
Total
Expenditure on:
Raising funds
Charitable activities
6,7
Total
Net Income/(Expenditure)
Transfers between funds
Net Movement in Funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 2024
General
Funds
Designated
Funds
Restricted
Funds
Total
Funds
£
£
£
£
78,309
25,000
9,771
113,080
26,944
-
-
26,944
7,443
-
-
7,443
-
-
-
-
112,696
25,000
9,771
147,467
(119)
-
-
(119)
(73,195)
(15,616)
(9,771)
(98,582)
(73,314)
(15,616)
(9,771)
(98,701)
39,382
9,384
-
48,766
(158,650)
158,650
-
-
(119,269)
168,034
-
48,766
209,269
490,789
-
700,057
90,000
658,823
-
748,823		 2023
Total
Funds
£
(Restated)
78,059
20,200
3,969
10,251
112,478
(85)
(88,077)
(88,162)
24,316
-
24,316
675,741
700,057

Page 9

Holy Mission of Guru Nanak Statement of Financial Position For year ended 31 December 2024

Registered Number 1151738

Notes General Designated Restricted Total Funds Total Funds
Funds Funds Funds 2024 2023
£ £ £ £ £
FIXED ASSETS 10 - 383,962 - 383,962 399,578
Tangible assets 383,962 399,578
CURRENT ASSETS 368,186 303,595
Cash at bank and in hand 87,506 274,861 - 362,367 302,188
Debtors & Prepayment 5,819 - - 5,819 1,407
CREDITORS
Creditors: amounts falling due
within one year 11 (3,326) - - (3,326) (3,116)
NET CURRENT ASSETS 90,000 274,861 - **364,861 ** 300,479
Total assets less current liabilities 90,000 658,823 - 748,823 700,057
Net assets 90,000 658,823 - 748,823 700,057
FUNDS
General Funds 12
90,000 - -		 90,000 - - 90,000 - - 90,000 - - 90,000 209,268
Designated Funds 12
- 658,823 -		 - 658,823 - - 658,823 - - 658,823 - 658,823 490,789
Total funds 90 90,000 658 000 658,823 - 823 - 748,823 700,057

For the year ended 31 December 2023 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities 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 with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS102 SORP.

The financial statement were approved and authorised for issue by the Board and signed on its behalf by:

R. Ramnani M Panjabi Trustee Trustee Date: 8 September 2025 Date: 8 September 2025

Page 10

Holy Mission of Guru Nanak Notes to the Financial Statements For the year ended 31 December 2024

1 ACCOUNTING POLICIES

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 - effective 1 January 2015) - (Charities SORP FRS 102) and the Companies Act 2006.

The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

b) Going concern

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

c) Income

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met.

d) Donations of gifts, services and facilities

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e) Interest receivable

f) Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity at the discretionof the Trustees. Designated funds are restricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

Page 11

Holy Mission of Guru Nanak Notes to the Financial Statements

For the year ended 31 December 2024

1 ACCOUNTING POLICIES

h) Allocation of support costs

i) Tangible fixed assets

All fixed assets are initially recorded at cost. Items costing less than £1,000 each are not capitalised, but written off as expense. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Freehold property - 2.5% on straight line Fixtures and fittings - 25% on reducing balance

Computer equipment - 33% on reducing balance

j) Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid net of any trade discounts due.

k) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

l) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

m) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Page 12

Holy Mission of Guru Nanak Notes to the Financial Statements For the year ended 31 December 2024 (Continued)

2. DONATIONS AND LEGACIES

2. DONATIONS AND LEGACIES
Donations
Grants		 Unrestricted
Funds
£
103,309
-		 Restricted
Funds
£
-
9,771		 Total Funds
2024
£
103,309
9,771		 Total Funds
2023
£
70,773
7,286
103,309 9,771 113,080 78,059

3. CHARITABLE ACTIVITIES INCOME

Event Income
Rental Income
4. INVESTMENT INCOME
Deposit Interest Income
5. OTHER INCOME
Insurance Claim Income
Compensation Income		 Unrestricted
Funds
£
12,994
13,950		 Restricted
Funds
£
-
-		 Total Funds
2024
£
12,994
13,950		 Total Funds
2023
£
(Restated)
-
20,200
26,944 - 26,944 20,200
Unrestricted
Funds
£
7,443		 Restricted
Funds
£
-		 Total Funds
2024
£
7,443		 Total Funds
2023
£
3,969
7,443 - 7,443 3,969
Unrestricted
Funds
£
-
-		 Restricted
Funds
£
-
-		 Total Funds
2024
£
-
-		 Total Funds
2023
£
9,926
325
- - - 10,251

Page 13

Holy Mission of Guru Nanak Notes to the Financial Statements For the year ended 31 December 2024 (Continued)

6. CHARITABLE ACTIVITIES

Cultural & Spiritual events
Health & Wellbeing events
Bereavement support
Community & Educational events
Provision of Facilities
Humanitarian services
7. SUPPORT COSTS
Cleaning Costs
Depreciation
Rates & Water
Insurance
Light & Heat
Repairs & Maintenance
Legal & Professional
Bank Charges
Accountancy		 Unrestricted
Funds
£
36,425
30,664
6,684
7,686
4,010
3,342
88,811
Premises
Costs
£
3,287
15,616
3,197
-
16,386
6,533
-
-
-
45,019		 Restricted
Funds
£
-
9,771
-
-
-
-
9,771
Governance
Costs
£
-
-
-
2,906
-
-
48
463
700
4,118		 Total Funds
2024
£
36,425
40,435
6,684
7,686
4,010
3,342
98,582
Total Funds
2024
£
3,287
15,616
3,197
2,906
16,386
6,533
48
463
700
49,137		 Total Funds
2023
£
21,240
24,358
-
-
21,240
21,240
88,077
Total Funds
2023
£
4,389
15,812
(833)
1,407
13,875
8,030
35
113
1,560
44,388

Net income/(expenditure) for the year

Net Income/(expenditure) is stated after charging/(crediting):

Depreciation of owned fixed assets
8. Staff numbers and costs
Wages and salaries
Social security costs
Pension costs
No employee received remuneration of more than £60,000.
The average weekly number of employees, calculated as full time equivalents,
during the period was:		 2024
£
15,616
2024
£
23,098
338
506
23,942
£
1		 2023
£
15,812
2023
£
19,950
-
463
20,413
£
1

The charity considers that the key management personnel comprise of the trustees, who are not remunerated.

The charity had an average of 120 volunteers during the year (2023:120), making a favourable impact across many of our activities.

No employee received redundancy payments during the year (2023: £NIL).

Page 14

Holy Mission of Guru Nanak Notes to the Financial Statements For the year ended 31 December 2024 (Continued)

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or the other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.

Trustees' expenses

During the year 2024 there were no trustee expenses claimed (2023 -£NIL).

10. TANGIBLE FIXED ASSETS

Cost or valuation
At 01 January 2024
Additions
At 31 December 2024
Depreciation
At 01 January 2024
Charge for year
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 Freehold
Property
£
513,795
-
513,795
125,207
12,845
138,052
375,743
388,588		 Fixture &
Fittings
£
40,410
40,410
29,716
2,673
32,389
8,021
10,694		 Computer
Equipment
Total
£
£
1,984
556,189
-
-
1,984
556,189
1,688
156,611
98
15,616
1,786
172,227
198
383,962
296
399,578

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Deferred Income
PAYE Liabilites
Pension
Accrued expense		 Unrestricted
Funds
£
1,663
-
476
487
700
3,326		 Restricted
Funds
£
-
-		 Total
Funds
2024
Total
Funds
2023
£
£
1,663
184
-
2,429
476
(451)
487
354
700
600
3,326 3,116

Page 15

Holy Mission of Guru Nanak Notes to the Financial Statements For the year ended 31 December 2024 (Continued)

12. MOVEMENT IN FUNDS

City Bridge Trust - Active Citizenship Project
Unrestricted funds
General fund
TOTAL FUNDS
Premises fund
Designated fund
Restricted funds
Fixed asset fund		 At
Net
movement
Balance at
01/01/2024
in funds
31/12/2024
£
£
£
-
- -
209,268
(119,269)
90,000
399,578
(15,616)
383,962
91,211
183,650
274,861
700,057
48,766
748,823

The Active Citizenship Project , supported by City Bridge Trust, the funding arm of The City of London Corporation’s charity, Bridge House Estates (1035628), aims to foster civic engagement and reduce social isolation among South Asian communities in Barnet, Brent, and surrounding areas. Through structured activities, the project seeks to empower these communities to become more actively involved in local affairs and strengthen social connections.

The designated fixed asset fund represents the net book value of the charity's tangible fixed assets, predominantly the building from which we operate

The designated premises fund has been specifically set aside by the trustees to cover the anticipated future costs of major repairs, renovations, and significant maintenance works for the charity's premises.

Net movement in funds, included in the above are as follows:

City Bridge Trust - Active Citizenship Project
Unrestricted funds
General fund
Designated fund
TOTAL FUNDS
Restricted funds
Premises fund
Fixed asset fund		 Incoming
resources
Transfers
Movement
resources
expended
between funds
in funds
9,771
(9,771)
-
-
112,696
(73,314)
(158,650)
(119,269)
- (15,616)
(15,616)
25,000
158,650
183,650
147,467
(98,701)
-
48,766

Page 16

Holy Mission of Guru Nanak Notes to the Financial Statements For the year ended 31st December 2024 (Continued)

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Comparatives for movement in funds
At Net At
movement
01/01/2023 in funds 31/12/2023
£ £ £
Restricted funds
City Bridge Trust - Active Citizenship Project - - -
Unrestricted
General fund 172,107 37,161
 209,268
Designated fund 503,634 (12,845)
 490,789
TOTAL FUNDS 675,741 24,316 700,057
Comparative net movement in funds, included in the above are as follow
Incoming Resources Movemen
resources expended in fund
Restricted funds 7,286 (7,286) -
City Bridge Trust - Active Citizenship Project
Unrestricted 105,193 (68,032) -
General fund - (12,845) -
Designated fund
TOTAL FUNDS 112,478 (88,162) -

13. RELATED PARTY DISCLOSURES

During the financial year, the charity received donations from a number of its trustees. All such transactions are considered related party transactions and are disclosed here to provide transparency and demonstrate that the charity is operating for the public benefit.

The following donations were received from trustees:

i) A one-off, unrestricted donation of £1,101 (2023: £Nil).

ii) A series of unrestricted donations, paid monthly throughout the year, totalling £1,300 (2023: £Nil).

There were no other material transactions with trustees or other related parties that require disclosure.

Page 17