2023-03-31-accounts - Guru Nanak Gurdwara Smethwick

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			Page
Report ofthe Trustees		I	to	7
Report ofthe Independent Auditors		g	to	10
Statement ofFinancial	Activities
Balance Sheet			12
Cash Flow Statement			13
Notes to the Cash Flow Statement			14
Notes to the Financial	Statements	15	to	22

						31.3.23	31.3.22
						Unrestricted	Total
						fund	funds
					Notes		f
INCOME	AND ENDOWMENTS			FROM
Donations	and legacies					1,570,723	1,369,988
Investment	income					27,950	31,550
Total						1,598,673	1,401,538
EXPENDITURE ON
Raising funds						337,735	4,810
Charitable	activities
Printing/Postage, Stationary
							21,849
Sundry						104,008	1,705
Food/Drink						277,432	153,680
Other						579,943	822,324
Total						1,299,118	1,004,368
NET INCOME						299,555	397,170
RECONCILIATIOiV			OF FUNDS
Total funds	brought	forward				9,867,718	9,470,548
TOTAL FUNDS CARRIED FORWARD						10,167,273	9,867,718

		31.3.23	31.3.22
		Unrestricted	Total
	Notes	fundf	funds 6
FIXEDASSETS
Tangible assets	ll	11,293,866	11,261,286
Investment property	12	350,000	350,000
		11,643,866	11,611,286
CURRENT ASSETS
Debtors	13	42,611	25,256
Cash at bank		393,343	251,165
		435,954	276,421
CREDITORS
Amounts falling due within one year		(309,240)	(261,354)
NET CURRENT ASSETS		126,714	15,067
TOTAL ASSETSLESSCURRENT
LIABILITIES		11,770,580	11,626,353
CREDITORS
Amounts falling due after more than one year	15	(1,603,307)	(1,758,635)
NET ASSETS		10,167,273	9,867,718
FUNDS	18
Unrestricted funds:
General fund		10,167,273	9,867,718
TOTAL FUNDS		10,167,273	9,867,718

				31.3.23	31.3.22
			Notes
Cash flows from operating	activities
Cash generated from operations				~342 496	367,760
Net cash provided by operating activities				342,496	367760
Cash flows from investing	activities
Purchase oftangible fixed assets				$44,990)	57,860
Net cash used in investing	activiues			~44,990)	~57,860)
Cash flows from financing	activities
Loan repayments in year				(155,328)	~210,807
Net cash used in financing	activities			f155,328)	(210,807)
Change in cash and cash	equivalents	in
the reporting period				142,178	99,093
Cash and cash equivalents	at the
beginning ofthe reporting	period			~251 165	152,072
Cash and cash equivalents	at the end	of
the reporting period				~393 343	251,165

RECONCILIATION	RECONCILIATION	RECONCILIATION	OF NET INCOME TO NET CASH FLOW FROM	OF NET INCOME TO NET CASH FLOW FROM	OPERATING
ACTIVITIES
					31.3.23	31.3.22
					g	f
Net income	for the	reporting		period (as per the Statement ofFinancial
Activities)					299,555	397,170
Adjustments	for:
Depreciation	charges				12,410	11,939
Increase in debtors					(17,355)	(25,256)
Increase'(decrease)		in creditors			47,886	$16,093)
Net cash provided		by	operations		342,496	367,760
ANALYSIS	OF CHANGES			IN NET DEBT
				At 1.4.22	Cash flow	At 31.3.23
				f	6
Net cash
Cash at bank				~251 165	142,178	393,343
				251,165	142,178	393,343
Debt
Debts falling	due within		1 year	(208,860)		(208,860)
Debts falling	due after		1 year	(1,758,635)	155,328	(1,603,307)
				(I~967,495	155,328	(1~812167)
TotaI				(1,716,330)	297,506	(1,418,824)

9.	STAFF COSTS	STAFF COSTS	STAFF COSTS
									31.3.23	31.3.22
										f
	Wages and		salaries						168,573	145,160
									168,573	145,160
	The average		monthly	number ofemployees			during	the year was as follows:
									31.3.23	31.3.22
	Staff								10	10
	No employees received				emoluments	in excess of		f60,000.
10,	COMPARATIVES			FOR THE STATEMENT				OF FINANCIAL ACTIVITIES
										Unrestricted
										fund
										f
	INCOME		AND ENDOWMENTS			FROM
	Donations	and legactes								1,369,988
	Investment		income							31,550
	Total									1,401,538
	EXPENDITURE ON
	Raising funds									4,810
	Charitable		activities
	Printingt Postage.'Stationary
										21,849
	Sundry									1,705
	Food/Drink									153,680
	Other									822,324
	Total									1,004,368
	NET INCOiME									397,170
	RECONCILIATION				OF FUNDS
	Total funds		brought	forward						9,470,548
	TOTAL FUNDS CARRIED FORWARD									9,867,718

TANGIBLE FIXEDASSETS
			Improvements	Fixtures
		freehold	to	and	Computer
		property f	property f.	fittings f	equipment f	Totals f
COST
At I Apri12022	10,674,800		469,280	324,877	17,466	11,486,423
Additions			44,990			44,990
At 31 March 2023	10,674,800		514,270	324,877	17,466	11,531,413
DEPRECIATION
At 1 April 2022			21,315	187,737	16,0$5	225,137
Charge for year				12,024	386	12,410
At 31 March 2023			21)315	199,761	16,471	237,547
NET BOOK VALUE
At 31 March 2023	10,674,$00		492,955	125,116	995	11,293,866
At 31 March 2022	10,674,800		447,965	137,140	1,381	11,261,286
INVESTMENT PROPERTY
FAIR VALUE
At I April 2022
and 31 March 2023						350,000
NET BOOK VALUE
At 31 March 2023						350,000
At 31 March 2022						350,000
122 and 124 High Street Smethwtck		were valued at f350,000 in January 2016.
DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
					31.3.23	31.3.22
						f.
Prepayments and accrued mcome					42,611	25,256

14.	CREDITORS: AMOUNTS	FALLING	DUE WITHIN ONE YEAR
			31.3.23	31.3.22
	Bank loans and overdrafts (see note 16)		208,860	208,860
	Taxation and social security		41,601	13,141
	Other creditors		58,779	39,353
			309,240	261,354
15.	CREDITORS: AMOUNTS	FALLING	DUE AFTER MORE THAN ONE YEAR
			31.3.23	31.3.22
	Bank loans (see note 16)		~1,603 307	l,758,635
16.	LOANS
	An analysis ofthe maturity ofloans is given below:
			31.3.23	31.3.22
				f
	Amounts falling due within one year on		demand:
	Bank loans		208,860	208,860
	Amounts falling between one and two years:
	Bank loans - 1-2 years		417,720	417,720
	Amounts falhng due between	two and five years.
	Bank loans - 2-5 years		625,143	625,143
	Amounts falling due in more	than five years:
	Repayable by instalments:
	Bank loans more 5 yr by instal		560,444	715,772
17.	SECURED DEBTS
	The following secured debts	are included	within creditors:
			31.3.23	31.3.22
				f
	Bank loans		1,812,167	1,967,495
	Bank loans are secured against the properties.