REGISTERED CHARITY NUMBER: 1154098 METHWI NANAK GURD SMETHWICK
U NANAK WARA SMETHWfCK on tsofth Fi ial Statements E YEAR END H 2024 Page Report of the TNsiee8 Report of Ihe Independ¢nl Audiiofs 8 10 10 Stal¢m¢ni of Financial Acliviiie3 Balance Sheet 12 Cash Flow Statement 13 Notes lo the Cash Flow Statement 14 Notes io the Financial Siatemenls 15 10 23
Re ort of the TTUStees Guru Nonak Gurdwara Smethwick (GNG Smcthwi¢k) is a charity located in Smeihwick and primarily serves the community providing both faith and non-faith based services and support to over 14,000 weekly congregation. The Gurdwaro, also known as the GNG Smethwick is a religiou5 charity c¢nlred on th¢ Sikh faiih. All aspecis of the GNG Smethwick operations and manag¢menl are pi¢mis¢d on the foundations of Sikh teaching5 and principles Guru Nanak Gurdward Smethwick is a faith led 'not for profit, organisation. li is dedicated to practi¢ing and promoting the Sikh Teligion in the name of the Sikh GUN'S from Sri Guru Nanak D¢v Ji the founder of ihe Sikh Dharam to Sri Guru Gobind Singh Ji (the 10th Sikh Guru) Ind ¢h¢ Shabad (word or 5CriPturesl of the Guru's, the existing and eternal Sikh Gurn, Sri Guru Granih Sahib Ji. The word Dhar¥m 15 reflective of Teligionlfaith but it also encompasses a Sikh's widri senyc ofobligaiivn and duty ill Ihcir way of lif¢ pnd Ih¢ir aciions iowards others and all of God's creation. Objeciive$ and aims The obJeet of GNG Sm¢ihwi¢k is, for th¢ public benefit, the advancement of the Sikh religion through the propagation, pra¢ii¢e and advan¢cmcnt of ihe Sikh Dharam based on l¢a¢liings of th¢ ieii Gurus and Sri Guru GTanih Sahib Ji. the erernal Guru and sacred scriptures of the Sikhs. Publi¢ Ben¢fil Guru Nanak Gurdwara Sm¢thwi¢k carri¢s out a wide ran8e of activitie5 in pursuance of ils obje¢liv¢. The r8nBe of activities provid¢ benefit both for thos¢ who a¢lend the Gurdwara and ih¢ wider ¢ommuniiy at larg¢. Ben¢fi¢s range from spiritual uplift Ihrough inilialion fjnd nurturin8 of Sikh pra¢iilion¢ry; rapacity building of individuals, families and ¢ommuni¢ies; engaging in community aclivilies,. providin¥ %upport ¢0 the elderly and enviTollmenlal enhancement and heritage conservlllion OTound th¢ Liurdwara., Sarbai da Bhalla (welfare of all) . Treating all human bein88 as on¢ family.. Universal equality by Te¢ogni5ing the hiimHn Tace as on¢ {Manas Ki Jaai Sabhc Ekcy Pchchanho . Guru Gobind Sin8h Jil; Helping 50cicly by carin8 for each other And 4horing our good fortunes with the less fortunat¢ ones by conlribu¢ing a minimum of IO% of our ¢8rning5 for charitablc purposes (Da%wandh}: Overcomiiig vices such as lust, aiiger, grttd, POSSC55iv¢n¢ss, arTogance, and e¥0 thTou¥h divine wisdom., Promoiing social virtues Such a5 tolerance, patience. and forgiv¢n¢ss. The Gurdwara project work address¢s key objeci as de5CTibed above. The lrnst¢¢s and silff are mindful of the need to work for the public b¢n¢fit, and ihis is an important eleimet)l of Ihc ovcrall obj¢¥liv¢. Publii beiiefits rdiige from spiritu81 uplift Ihrough inilialion and nurturing of Sikh way of lif¢,' ¢apa¢ily building of individuals, famili¢s. end communili¢s with Sikh values-ba5ed education,. engaging in ¢ivi¢ Acliviiie5, providing sUPPOrt (o ihe elderly through youth participation and li¢alth¢ar¢. Th¢ Managemeni Committee has bttn working to implemeni operaiional chan¥es and improv¢meni in lh¢ GuTdwara. Dharam Parchar The Darbar of (hc Guru, in which takes place Paath (prayers). Kirtan, Kaiha, r)hadi Vaaran or other Sikh religious services; these promo1¢ spiritual well.being and uliim8l¢ly improve the quality of life for devoiees and the wider Co1Mn1[Y, they Hre providcd ¢v¢ryday throughout the day and pre5idd vpoii by our eternal Guru and SaLivd scriplurcs Sri Guru Granth Sahib Ji. Main Daily Programme- The monagemenl have tonlinued a non-stop full day service programme. This means from the time when Sri Guru GTanth Sahib Ji arriv¢s into the Darbar Sahib each moming, the religious servi¢¢s will commence and continuc throllghou¢ the day until Sri Guru Granih Sahib Ji leaves (h¢ Darbar Sahib for Sachkhand. GNG Smeihwick continues lo be the leading plaifom for Gumial par¢har in the United Kingdom. World renowned Kirtani Jatha5, Katha Vachaks, Dhadhis and Parchariks continue 10 visit. GNG Smethwick Temains the hub of ¢ommunity providing all of the r¢ligious need5 of the Sikh community in¢luding large smagams and ¢veDis ¢¢l¢braiing Gurpurabs and other importartt daics in the Sikh Calcndar. Pag¢ I
The Nagar Kirtan (procession) in c¢l¢bration of th¢ Paikash GuTpurab of Sri Guru Nanak Dev Ji was held in November 2023 from Gurdwara Guru Har Rai Sahib Ji in West Bromwi¢h and ¢nd¢d al GU Nanak Gurdwara Smethwick. The Gurdwara spearhead5 this Nagar Kirtan and the after eveni on Ihe High Sireet in Smcihwick. Holla Mohalla 2023 was held, this is o Sikh martial evenl and in celebrated in 'Chardi Kala, also known as positiv¢ stat¢ of the Khalsa. -Ihe event was held on the Lions OF the Great War 511e, il included demonstrations of Gatka, prgmoiing physical and mental wellbeing. In celebration of Vaisakhi the creation of the Khalsa. Gunj Nanak Gurdwara Sm¢thwi¢k held Vaisakhi 2023 as open air cel¢bTalion5 Oll the High Street in Smeihwick. Thousands of people from ull walk% of life attended Ihese celebrations. This waE an open opponunliy 10 embrace and ¢XP¢Ti¢n¢¢ Kh?1sp ¢oinmunity spirii, approx. 20,000 persons aii¢nd¢d. Sri Akhand Paaih Sahib Pray¢is were held throughout the year to cel¢bral¢ th¢ births of ¢h¢ Sikh Gurus and the birth of th¢ Khalsa fraiernity. There were a total of 122 Sri Akhand Pa8th Sahib, 57 Anand KaTaj, 220 Sukhmani Sahib, 96 Antim San5kaT (funerals) 20 Sehaj Paath and approx. 150 persoi)s were initiated as Kha15a through Ihe Amrii Sanchaar (initiaiion Ceremony). The Gurdwgra remains one of the most popular venue4 in the Midlands for lh¢ Ajiand Karnj (Sikh Malage ¢¢remony). Education Guru Nanak D¢v Ji Gumat Academy The a¢ad¢my allows Siudents to learn the Punjabi lan8uage, obtain life skills and Santhiya (learning how lo read Gurbanil. The Punjabi school CUentlY has 600 qludenis enrolled. This figure is up 250 from the 2022 ocademie yeur. It ho5 had o strong aeadcmic year in 2022-2023 with 10 GCSE. A star's and 2 A star A.Levels. The 2024 resulis aT¢ ¢xpec¢cd lo show further improvemenis. This achievement has provided a boost lo Rcademic pro8r¢ss 8iid curriculum achievement. rellectin& th¢ Khalsa value5 that guide the Acad¢my's $lral¢gic vision and inspir¢ lh¢ slaff and governors lo b¢ oulstonding professionals and role model5. Gurmat SonBe¢l A¢od¢my The Gurdwara'y Gumial San8c¢I A¢ad¢my ¢oniinuery ¢0 8row. We currently hav¢ 52 siudenis in our Kirtan clas$ and 34 siudent¥ in our Tabla class. After School Clubs - We fa¢ililale weekly homework clubs for 12-18-year-old% thai are Tun by experienced volunieers 10 help with homework, coursework, assignmenis. and exam Tevision, covering COTe GCSE and A-Level subje¢¢s such s English, Maths and ih¢ Sei¢nces. Library . Guru Nanok Gurdwara Smeihwick 15 Proud to be home lo over 10,000 book5 at the General Subheg Singh Library. W¢ will bc $0011 5tartin8 a project lo con%truei o ChildTen's l.ibrary al GNG. It will b¢ a ¢hildr¢n'5-only library within th¢ GurdwaTa, providin8 A space for eliildTen lo enhance their reading abililics and imogination, whilst also supportin8 th¢ buTgconinH field of Sikh and Punjabi auihor5hip. Sikh Students Fre$h¢rs Fair - In Ociober 2023, we hosted lln annual Sikh Student8 Freshers Fair in Ihe Function Hall ai GNG Smethwi¢k. Sikh Students from univeTsilies across the We51 Midlands attended. vi$ilin8 an arTay of stalls offerin8 career opportunities, Sikh businesse5, and volunteer orgaThisa¢ion5. Students could benefit from 8uidance, advi¢¢. showcosing projec15 and campaign¥ hosting a iangc of comp¢titions and pri7.¢ giveaways. Summer Comps - Over the Summer 2023 we held lhe Summei Sikhi camp. Over 150 ¢hildren attended ov¢r the ¢amp of Iwo week5 wilh material and aclivilies that focused on inspiring young minds lo embark on a Irangfornialive Bdventure of exploration, gTOWth, and l¢aming. Public Engagement Healih - We have been supporting various initiativ¢s including free weekly health checks at the Gurdwara to identify diabeies, obesity, blood pressure, ehole4tcrol and other ailments in the local Punjabi comtnunity. Our volunteer licaltllcare professionals alsu Tef¥T m¥wnbEr5 of thr public to their GP'S or other healthcare professionals a5 requir¢d ir there is any rea50n for concem. Page 2
Re on fih T FOR THE YEAR ENDED 31 MAK£H 2024 Sports Kabaddi Toumamenl - Wc h¢ld an annual Sports Kabaddi Tournament at the Sandwell Vall¢y Playing Fields in which more than 2000 spectators attended. Wc have ¢ontinued to gTOW the number of SPOnin8 activilics taking part at Ihc Gurdwara. Current aclivilies at the GNG Martial Art% Acadcmy iD¢lude gatka, wrestling. boxing and MiL¢d Martl81 Arts (MMA). We are also a Duke of Edinburgh Lic¢nced Cenlre and periodically tun pro8ramm¢s. We have recently completed our I st Bronze level award for ¢he first Cohort. Guru Nanak Gurdwara Sm¢ihwick works hand in hand with ihe Smeihwick Youth and Community Centre helping provide various essential support services to the wider community of Smeihwick and Sandwell. In 2023 Guru Nallak Gurdwara Smeihwick celebrated lis 62nd anniveT5ary. The Gurdwara first opened its doors lo the Sadh Sangat in July 1901. li was the first Gurdwara to be eslablish¢d in ihe United Kingdorn ihat had been solely funded by lh¢ Sikh community. Congregation who hav¢ an atia¢hm¢n¢ to the Gurdwara came from 011 over th¢ United Kingdom 10 take part in these cel¢brgtions. In our report we would like to take this opportunity ¢0 ihank everyone who has been part ofthe GNG family. Throu8houl ihe year the Gurdwara has been featured on Ihc vaTIOUS local and national media due lo its PTominence. advocacy for on Sikh is%ues and community work for ih¢ bellerment of all of mankind. Community and W¢llbein8 Langar Icornmunal Kitchen) - A free vegeiarian mcal froin the Guru'% kitchen is provided io any devotee or visitgr irrespective of their faiih, casl¢, gcnd¢r or ethnicity elc. The Gurdwara enjoys tt 5-51ar Talin8 by ihk Food Siondards A8eThcy. Safeguarding . The Gurdwara i¥ deeply committed to ensur¢ the safety and wellbeing of its Sangal and community. We are one of the first Gurdwaros lo employ a d¢di¢aied Safeguarding Officer. Exlemal Visit% Th¢ Gurdwara is open lo all communities, during this lime we conducted 151 Educaiional Visity, in which a (olal of 4,530 visiiors vi5iled. We have seen ali increasinu number ol. extemal visits lo the Gurdwargs. Groups visit from across th¢ UK and internationally. They ar¢ given tour% of Ihe Gurdwara, a talk on th¢ Sikh faith. & Q&A session followed by Guru Ka L8ngar. Educo1ion81 literature is a150 distributed lo the visitors. Afternoon Tea ai GNG held on a monthly basis, looks to brin8 to moiivaiional speaker5 deliv¢ring spee¢hes in En¥lish and Punjabi to inspire and uplift our 5151ers, mothers and randMother5. The evenl is W¢l¢oming all women over the a¥c of16, 10 come together lo empower, cncourage, advise and sUPPOrt oft¢ )noiheT in any way possible. Wh¢th¢r it be froin leaming Gumial, sharing best practises. to Il)e ehalleng¢s woinen face in their daily lives, Aftenioon Tea at GNG is an opportunity lo share your thoughis ov¢r a lovely scone and cup of tea. 'I'he Kaur Youth Group is here every week io listen and provide a safe Space for you lo talk and for us lo support you in a non.jud8emental and confidential environment. We have started CPR troining for the communiiy. This will includ¢ how to use a defibrillator. The GNG Matrimonial Service is a professional and bespoke introductions servi¢¢ for the Sikh community. This service has now enrolled hundreds of males and females who gre looking for a suitable match lo marry. A group of dedicated volunteers are managing th¢ s¢rvi¢e under the guidan¢¢ of th¢ management commiiicc. They have a stall every Sunday brlwccn I l am and 2pm. Th¢y l)old an inlroduclioii ev¢nl fur r¥¥i4(ered members ¢very quarter. The Gurdwara has won the Green Flag Award for the 5th year running for managing and mBintaining the Lions of the Great War 51te for the third time since its inception. The Green Flag Award accreditation 15 the international quality mark for park5 and green spaees - is testament to the hard work and dedication of the Gurdwara team that care for the green space sg I ¢v¢ryoiic cali enjoy li. Page 3
Volunteers - Ai Guru Nanak Gurdwara Smeihwick there in estimated 200,000 hours of voluntary s¢rvi¢¢ provided by volunteers ev¢ry y¢ar for a rnnge of a¢tiviiies from ¢ooking in thc kitchens, to conducting prayer services and helping with administrative duties. Calculated for 30 persons ot an avcrage wage of £11.50 per hour for 7 hours per day, this quaniifies 10 £879,060 every y¢ar, £16,905 ¢v¢ry w¢¢k and £2,415 every day worth of selfless servicejvolunteering for th¢ ¢ommunity. Esiat¢s We have undertaken $i8nificant work to renovate and improv¢ th¢ fa¢ilities in¢luding, cleaning, and repairing the e4tates of the Gurdwara. We are constantly finding energy eI¢LettI solu120n5 and reducing our carbon footprint. We Iiave updaied our ielephone infrasinjcturc to improv¢ oiir s¢rvi¢¢s and reduce cosis. Our phone and iniemei providers have been merged. and we have set up an internal network to enhance the cle1CeY. seeurity. and managemerti of th¢ Gurdwara's affairs. Sound systems and I'r inffastruclures are conslanily updated around the Gurdwara complex. Addilionally, a live video stream is available on YouTube from GNG Smethwi¢k for the convenience of our Sangat. Further technological improv¢menls include updat¢4 and purclia5es of iechnological equipm¢ni al th¢ Gurdwaro 10 improve the infrasiwclure, in¢luding the pur¢hase of a portable system to live slrcom ext¢rnal evenis. A new oil r¢¢y¢ling unit had been installed in partnership willi Sevem Trent Water. All used oils or fal will now by collecled and poured into a i&nk which will be used 05 a fer fuel to 8enero1¢ ¢le¢tri¢ily. Govemanee We uphold Iranspar¢n¢y and accounlabiliiy in our 8overnanee practices including public availabilily of our meeting minute qummaries to our congrcgalion. We have developed our Human R¢sour¢¢ policies and moderniscd employee coniroets 10 protect both employces ond the Gurdwor&. Wc &re proud to announcc that we arc woikin8 towards becoming a UK Living Wage Employei. We endeavour lo set up sub¢ommi¢¢ccs to work on specific areas of our operations including F'inance, HR. Eluilding and ¢omtllunily oulTea¢h. Thc5e subcommilltts will provid¢ gddilioiial support and ¢xpcrtise io the Management Committee building on the implemeniaiion of the findings from our internal audit. Financial Review Prin¢ipAI Funding Sour¢e- The Gurdwara's funding Comes from donaiions from the public and investment income. Futu1¢ D¢v¢lopm¢nts Thc Gurdwara aims lo continue to follow it$ cor¢ objc¢tives aiid will focu5 011 COI)tiiiuiiiB willi proj¢¢i% undertaken in previous yeaTS and lo establish progrnms for Ihe elderly, moihery, and toddlers, and incr¢as¢ Access lo %port4 a¢iiviii¢s for Ihe Sangat with special focus on promoting h¢alth and wellbcing in ihe local community. Structure, Governanee and Manag¢menl Re¢wilm¢ni and appointment of Managemen( Commi(iee - Management Committee of GNG Sm¢ihwi¢k are elected ¢very 2 ycars. All new Iruslees mu%1 be Amriidhari (baptisedl in the Sikh religion. Indu¢tion training of new Management Committee The Managing Committee are given adequate sUPPOrt to mHnDge ihe GurdwaTa'S aCtiviti¢s in compliance with the Gurdwara'5 coiislilulioii. 'I"he Management Commiltee have been focused on delivering their priorilies.. Allegi8n¢es ¢0 Sri Guru Granih S&hib Ji, Sri Akal Takhal Sahib and the Khalsa Panih; Tn huild a leading Sikh inslilulion fit for the 21 91 Century; Educat¢ and d¢v¢lop our future leaders,. Championing Healih & Wellbeingi Embrocing young mothers and ioddl¢rs. Page 4
NANAK METHWICK ort of thc Tru5tee5 FOR THE YEAR ENDED_31 MAR_CH 2Q24 Risk M4nag¢menl The Managing Commi¢¢¢¢ hav¢ a duly to id¢ntify and T¢VleW tlie risks lo which ihe charity is exposed and 10 ¢nsur¢ appropriate ¢oiilrols ar¢ in place 10 provid¢ reasonable assurdnce against fraud and error. Th¢ Management Committee regularly r¢vi¢ws the major T15ks which are faced by GNG. Risks that are id¢nlifi¢d aTC dealt with appropriately including irtsurance cover being taken wherc feasible. Managemeni have identifi¢d thal ¢h¢ misapproprialion of charity ass¢14 may also be a risk bul thi5 has been mitl8ated by various ¢onlrols which have therefore minimised this risk. The Conclusion was that the system of eontrol in the oreas reviewed wa4 adequate in all significant respcets for ihe purpose of the charity to continu¢ in its 8ciivi¢ies. All this could noi however be possible without the bl¢ssings of the Almighty Sri Guru Granih Sahib Ji and th¢ ¢Oftlinuou5 SUPPOrt, dedication and commiimenl of th¢ S¢vadaars (volunteeTS} and the Sadh San8at Icongr¢gaiion) may Guru Ji's grace be showered upon us all and may we all express our gratitud¢ with our h¢arts and souls. OBJECTIVES AND ACTIVITIES Slgnlflcant acllvilles The Gurdwara (Sikh place of worship) on High Sireei in Smethwick, is the heort ond soul of the orBanisalion's activilics and gims. li promotes spirilual and phy5i¢nl Tegeneralion through th¢ promo¢ion and propagation of the Sikh Dharam (foiih). The Gurdwara was established in 19fy1 in the town of Smethwick. now iii the borough ol. Sandwell, it Coniinues lo humbly provide qiialily voluntary s¢rvi¢¢$ u¢ilising the monetary and non-mon¢iary ¢oi)Iribulions 01 offerings provided by the ¢ommunity. STRUCTURE. GOVERNANCE AND MANAGEMENT Governlng document The charity is ¢onirolled by ils governing documenl, a deed of INst and consiilutes an unincorporated charity, Recrultmcnt And appolntment of new Ir115tees All Iieiv Iru51ees InLisI bc Aniri¢dhaTI (baptiscdl in the Sikh religion. REFERENCE AND ADMINISTRATIVE DETAILS R¢glstered ChArlty number 1154098 PrlnclpAI addre¥$ 130 High S¢Teet Smcihwick West Midlunds B66 3AP Page 5
NA WARA SMETH Re ort of the Trustees FOR THE YEAR ENDED 31 MARCH 2024 Trugte¢$ Mr Tarsem Sin8h Shoker Mr Jaswinder Singh Mr Jatinder Singh Mr Onkar Singh MT Humraaj Singh Shergill Mrs Pervinder Kaur MT Gurdeep Singh Mr Sukhwinder Singh (resi8ned 4.5.23) Mr SaTbjil Singh Mr Balbsr Singh BliajHrn Mr Maninder Singh (resigned 7.5.23) Mr Jasvir Singh {r¢sign¢d 7.5.23) Mr Kuldeep Singh Deol Mrs Resham Kaur (resigned 7.5.23) Mr Bhervinder Singh Mr Mohinder Singh Nagra Mr Iqbal Singli (resigned 7.5.23) Mr Harvinder SinBh Purewal Mr Surjii Sinyh Dhillon (resigned 7.5.23) Mr Suba Singh (resigned 7.5.2.1) Mr Sukhmunbir Singh (resigned 7.5.231 Mr Harvinder Singh Mr Jagievan Singh Samr¥ (?ppgint¢d 7.5,231 Mr Ilarji¢ Singh Chana {appoiii¢ed 7.5.211 Mr Malkit Singh (appointed 7.5.23) Mr Nariiider Singh Waraich (appoinied 7.5.23) Mrs KuljindeT Kaur (appointed 7.5.23) Mr Jasvir Sin8h (appointed 7.5.23) Mr Mangal Singli {appoinled 7.5.23} Audlior$ Ark&Co Lid . Sialutory Audilors The Maliin8% 2 AndcTson Rd Elearwood Bimiin¥ham Wesl Midlands B66 4AR COMMLNCLMENT OF AcfiviTIES Guru Nanak Gurdwara Sm¢ihwick fir51 opened ils doors to Ihe Sikh Community on Joih July 1961. STATEMENT OF TRUSTEKS, RESPONSIBILITIES The trust¢¢s are r¢sp0115ibl¢ for preparing the Report of the Tnjslees and Ihe financial SlJt¢mciits in accordance with appli¢abl¢ law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pro¢li¢¢). Page 6
h T stee5 FOR THE YEAR ENDED 31 MARCH 2024 s'rA'I'IMLNT OF TRUSTEES, RESPONSIBILITIES- contlnued The law applicable to ehariiies irt England and Wales. the Charities Act 2011, Charity (Aecounts and R¢port%) Regulations 2008 and ihe provisions of the INSI deed require5 the tN5tees lo prepare financial statements for each financial year which give a iNe 8nd foir vi¢w of the state of affairs of the ¢h&rily and of the incoming resources artd application of resources. including ih¢ in¢om¢ and expenditure, of ihe chaTlty for ihal period. In pr¢paring Ihose financial staiemenls. the Irust¢¢s gr¢ required io s¢l¢cl suitabl¢ a¢counling policies and ihen apply ihem eonsislenily,. obs¢TV¢ th¢ m¢thods and PTin¢iple5 in the Charity SORP: make judgem¢nis and e5timate5 tha¢ are reasonable and prudeni; 51a(¢ wheiher applicable accounting siandards hilVL been followed, subject io any material departures disclosed and explaillcd in the financial statements,. prepare the financial statements on the goin8 coneem basis unless il is inappropriale to presume that the charily will continue in business. The irusteeg are responsible for k¢¢ping proper o¢¢oun¢ing record¥ which disclose with reasonAble ac¢ura¢y al any lime tlie financial position of th¢ chariiy and ¢0 enable them to ensiire thai Ihe finan¢ial sioi¢m¢n¢s comply with the Charities Act 2011, lh¢ Chariiy (Accounts and Reports) Regullllions 2008 and the PTovi4ions of the trust deed. They Ar¢ g1$0 responsible for safeguarding the a$se¢s of ihe eliariiy and henc¢ for lakin¥ Teasonable steps for the prevention and delection of fraud and oth¢r irr¢8ularili¢$, Approved by order of the board of Iw5t¢cs on 27 January 2025 and signed on its behalf by: Mr Kuldeep Singh Deol - Trusiee Page 7
Re ort of the Ind endent Audii Oplnlon We have audited the financial statements of Gurn Nanak Gurdwaia Smeihwiek (the 'eharity? for th¢ year ¢nd¢d 31 March 2024 whi¢h comprise the Statement of Financial Activities, the Balance Sheet. th¢ Cash Flow Slat¢m¢ni and notes 10 th¢ fiiian¢i81 slatements, including a summary of significanl accounling policies. The financial reportin8 frameivork that has been appli¢d in their pr¢paraiion is applicable law and United Kiiigdom Accounting Siandards {United Ithngdom G¢n¢r811y A¢¢¢p¢ed A¢counting PTaclice). In our opinion the financial sla¢ementS'. give a true and fair view of the state of the charity's affairs as at 31 Mar¢h 2024 and of its in¢oming resource5 and application of resources, for the year then ended; have been properly prepared in accordance with Uniied Kingdom G¢n¢rally Ae¢¢pt¢d Accounting Pra¢tice,' and have been prepared in accordance wilh the requiiemenis of ¢h¢ Chariii¢s A¢1 2011. BASI8 for oplnlo We conducted our audit in a¢ctsrdance with International Standards on Audiiing (UK) (ISA% (UK)) and applicable law. Our r¢spon5ibililies under those 51andards are further deseribed in the Audiior4' responsibilities for the audit of the rinancial 51alemenls seetion of our repor¢. We ttre independent of the charity in accordance with the ¢thi¢al requir¢m¢nts that ore r¢l¢vant to our audit of the financial slalemenls in the UK, in¢ludin8 the FRC'S Eihical Standard. 8nd wc havc fulfilled our oilier ethical responsibilili¢s in a¢¢ordancc with th¢5¢ rcquiremenls. We believe thai the audit evidence w¢ have obiained is sufficient and appropriate lo provide a basis for our opinion. Con¢lu$lon$ rel&tlng to golng concern In auditing the financial stotements, we have concluded that the Irusl¢¢s' usc of Ihc going concem basis of accounting in the Preparation of the financial statements is appropriaie. Ba5¢d on Ihe WOTk we have performed, we have not ideniifi¢d ony material un¢¢rtginlics rclatin¥ to events or conditions lhal, individually or colleclively, may cast s18iiificaiil doubi on ¢h¢ ¢hariiy'% abilily lo continue a5 a going concern for 8 period of al l¢psl Iwclve months from when the financial statements are auihoris¢d for issue. Our responsibilili¢s and ihe re$ponsibililie5 of the trustees with respe¢l to going conc¢m are described in ihe relevant sections of this r¢port. Otlier Informitlon Th¢ tnJ%¢c¢4 are responsible for the other inforniation. The oiher information compri%e5 the inforniation included in the Annual Report, other than the finan¢ial sialem¢nis and our Report of the Independent Auditors thereon. Our opinion on ihe financial statements doe5 not cover the other infomia¢ion and, except Lo the extent oiherwise ¢xpli¢iily sla¢ed in our report, we do not express any fomi of assuron¢¢ ¢on¢lu5ion thereon. In conne¢lion with our audit of the finan¢ial siatements, our re¥pon%ibilily is to read the oiher infoTmatitsn and, in doing ¥0, ¢onsidcr wh¢ih¢T the other infomialion is materially incoiisistciil willi Ilie fiiiaiiLial sliiirmvnib vr vur knowledge obtaincd in Ihe Audit or otherwi$¢ 8pp¢ars lo be materially misstated. If we identify such material inconsistencies or apparent material misslalemenls, w¢ ar¢ r¢quir¢d to delerniine whether this 8iv¢s ri5¢ 10 a material misslalement in the rinancial statements themselves. Ir. bos¢d on the WOTk we have perforn)ed, we conclude ihal there is a moierial mi55ta¢cmenl of this other infomiation, w¢ arc r¢quiied io report ihat fact. We have noihing ¢0 report in this regard. Maller$ on whleh we are requlred to report by exceptlon We have nothing io report in r¢5PCCt of thc Following matiers wher¢ the Chariiies {A¢¢ounts and Reports) R¢gulalions 2008 requires us lo report lo you if. in oiir opinion: the infomiation given in ihe Report of th¢ Tru5tee5 is inconsistent in any moieri&l respect with the finan¢ial $1ot¢m¢nts', or suffi¢i¢nl ac¢ounting records have not been kept; or thc financial Statements are not in agreemcni with the accounting records and reiums. or we have not reccivcd all the inforniation and explanaiions we reqiiire for our audit. Pag¢ 8
Guru Nanak wa ¢thwi¢k Responslbllltles of trllstt As cxplaitled more fully in the Statement of Trustees, R¢spon5ibiliii¢s, the tn15t¢es are responsible for th¢ preparation of the finan¢ial siatements which give a tNe and fair view. aDd for 5u¢h internal control as the tJiJsi¢¢s deternJin¢ is necessary to ¢nable th¢ preparation of financial statements that are fr¢e from mhterial misstatement, whe¢her du¢ lo fraud or erTOr. In preparing the financial statements. the Iruste¢s or¢ responsible for as5e5sing the charity's ability lo conlinue as going concern, disclosing, as applicable. malt¢rs r¢la¢ed to going concern and using the going concern basis of accounting unless the trustees ¢ith¢r ini¢nd ¢0 liquidale the charity or lo cease operations, or hav¢ no realistic alt¢rnaiiv¢ but to do 50. Our respon51bllltleJ for the 4udlt of the Ilnanclal stAtements We liavc been ilPPOltii¢d as audiiors under Seciioii 144 uf the ChDritics A¢1 2011 and repon in accordanc¢ wlth Ihe Acl and relevant r¢gula¢ions made or having effect thereunder. Oiir objectives are to obtain reasonable assur#n¢e about whether the finan¢i#l 51at¢ments as a whole are fr¢¢ from material misstatement. wheiher due ¢0 fraud or error, and lo issue a R¢port of th¢ Independent Auditors th81 in¢lude5 our opinion. Reasonabl¢ assurance is a high level of 0ssuran¢¢, bui is not a guarantee Ihal an gudil ¢ondu¢ted in ac¢ordg1)ce wilh ISA5 (UK) will always del¢¢l o maierial mis51atement when it exists. Misstaiemenls can arise from fraud or error and aTe considered maierial if, individually or in the aggregate, they could reasonably be ¢xpe¢led lo influence the economic decisions of users taken oil the basis of these financial 5la¢¢m¢nls. The extent lo which our procedure5 are capable of detecting irr¢gulori1i¢s, including fraud is detailed b¢low'. As audiiors, wc have planned and perforn)ed our procedures and audit testing in a manner de$i8ned to idenlify and a%sess th¢ risks of material mi551at¢m¢Dt du¢ lo frdud or error. We gaincd an undersianding of the legal and regulatory fraiM¢work applicable lo the Charity and the sector within which op¢ral¢s, and considered the risk of act5 by the Charity that were not in line with the applicable laws and r¢gulaiion5, includin¥ fraud. We understood how the ChBrity is complying with those laws and regulations by.. moking enquiries of trusl¢¢s concerning actual and polenlial liligolion and claims. We corroborated our enquirie$ by obtaining an uiiderstandirtg ofiTuslee's procedur¢s relating to detecting and re$pondin8 10 Ih¢ risks of fraiid And wh¢th¢r th¢y hav¢ any knowled8e of arty Q¢luol, $ugp¢¢l¢d or allcgcd fraud; we perfomied audit work over Ihe risk of mana8cmcnl override of ¢onlrol$, including testin8 of joumal enlries and other adjustments for approprioteness, evaluation of business ralioiiale of mat¢rial Iransa¢tion5 outside th¢ normal course of business; w¢ rcvi¢wcd accounting e4limaies for Hny bias: and we reviewed in d¢tail any firtes, legal llnd professional expenses incurred along with coeSpOndence wi¢h regulatory bodie5 to evaluat¢ wheihei there were ony instance5 of non.compliance. Our audit procedures were d¢si8n¢d io respond to risks of maierial mis5ta(emenl of Ihe financiul statements, recognising Ihfit th¢ risk of no¢ delecting a malcrials misslaiement due lo fraud is higher thon lh¢ risk of not delecting ortc re5uliin8 from ¢TTor, as fraud may involve deliberate ¢oncealmenl by. for example, forgery. mi5representalions or through collusion. There are inh¢r¢nt limitations in the audit pro¢cdures perfomied ond ¢h¢ further removed non-¢omplianc¢ with luws ond regul4lion is from the event$ and ¢ransaclions reflcct¢d iii fiiiaiicial slai¢mEnts, (he le55 likely we are to become aware of il. A further des¢riplion of our re4ponsibilities for th¢ audil of the financial st&t¢men¢$ is located on th¢ Financial Reporting Council'5 website at www.fr¢.OTg.ukl4uditorsresponsibililies. ThL5 description fornis part of otsr Report of ihe Independent Auditor5. Pag¢ 9
R¢ ort of the Ind endent Auditors to the Trustees of Guru Nanak Gurdwara Smeihwick Use of our repor¢ This report is inude solcly to the charity's trustees, as a body? in a¢cordance with Parl 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's IN8tees those mailers we are required to .%late to Iliem in an auditors, report and for no other purpose. To the fullest exlent perniitled by law, we do not accept or assutne responsibility 10 anyone other than the charity and the charity's INslees as a body, for our audit work. for this report, or for the opinions we have f0rn1ed. Gumek Ark- Senior Statutory Auditor Ark&Co Lid - Siatulory Auditors The MaliingTS 2 Ander80n Rd Bearwood Binningham Wesl Midlands B66 4AR 27 January 2025 Page 10
tement of Financial Aciiviii R TH NDED 31 MARCH 2024 31.3.24 Unre8trleted fund 31.3.23 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and Icgacies 1,501,952 .570,723 Inv¢slm¢nt income Other income 48,824 200 000 27,950 Total 1750 776 1598 673 EXPENDITURE ON Roising funds 20,944 337,735 Chirltable a¢tlvltles Printin¥0$laSts1s1a1Londry Sundry FOodrink In5UTance Water 21,991 12.657 290.783 39,795 35,488 104.008 277,432 Other 1404 024 579 943 Total 1825 682 1299 118 NET INCOMEI{EXPENDITURE) (74,900) 299,555 RECONCII.IATION OF FUNDS Total fLinds broii&>hi forward 10,107,273 9,867,718 TOTAL FUNDS CARRIED FORWARD 10 092367 10 167 273 The notes fom) part of Ih¢s¢ financial $iai¢m¢nis Pagell
GURU NANAK GURDWARA SMETIIWICK Balance Sheet 31 MARCH 2024 31.3.24 31.3.23 Toldl funds Unre5tri¢ted fund Notes FIXED ASSETS Tangible assets Investmeiil property 13 14 11,047,347 1005,161 11,293,866 350.000 12,052,S08 11,643,866 CURRENT ASSETS Debiors Cash al bank 43,646 160,921J 42,611 393,343 204,575 435,954 CREDITORS Aiiioui)Is lalliiig due within one year 16 (422,817) (309,240) NET CURRENT ASSETS 218,242) 126,714 TOTAI. ASSF.TS LESS CURRENT LIABILITIES 11.8.14.266 11,770,580 CREDITORS AinoLinls falling dLIL aftLr InorL than onL year (1,741,899) (1,603,3071 iYET ASSFTS 10.092.367 10,167,27.3 FUNDS Uiircslrictcd funds.. CJcncral fund 20 10092 367 10,167,273 TOTAL FUNDS 10092 367 10 167273 The fii)aneial statements were approved by the Board of Trustees and auihorised for issue on 27 January 2025 and were its b¢half by.. Mr Sarbjit Singh - Treasurer The notes forn] part of these financial stalemenls Page 12
GURU NANAK G Cash Flow Siatemenl ARC Jl.3.24 31.3.23 Not¢5 C4$h floiv$ from oper4tlng a¢llvltle$ Cash generated from opcration5 342 496 Nct cash providd by op¢raiing a¢liviti¢s 342 496 Cgyh flow$ from InvestlnK 4¢ilvlile$ Purchase of tangible fixed a55ets Purcliasc of invcstmcnt property Interest received (8,364) (455,161) 82 (44,9901 Net cash used in inve5tin8 activities 463 443) 44 990} Co$h flowi from fln#nelrt8 l¢tlvllle4 Loan repayments in year 138 592 155 328) N¢t ¢osh piovid¢d byl(us¢d in) financing activities 138 $92 155 .328) Change In rlsh and cash equlvv4lent8 In Iht rtporiln8 Ptrlod Cash and cash eqiilvalents at the be8lnnlng of the reportlni perlod (232,414) 142,178 393 343 251 165 Cash and CAsh equlvalents At the end of the reportlng perlod 160 929 393 343 The nolcs fom) part of Ihese financial slalemenls Page 13
METHWI Notes to the 'ash Fl '¢ temenl FOR THE YE RECONCILIATION OF NET (EXPENDITURE)IINCOMKTO NETCASH FLOW FROM OPERATING ACTIVITIES 31.3.24 31.3.23 Net (expendltureylncome f&r the reportlng perlod (as per the StAten)ent of Trlnanel$l Aetlvltlei) Adjustments for: Depreciation charges Interest received Fair Value Adjuslm¢rtt Increasc in dcbtors Incr¢a¥¢ in ¢ditOrS (74,906> 299,555 254,883 (82) {200,000) {1,035) 113577 12.410 (17,355) Net cash provlded by operAtlon$ 342 496 ANALYSIS OF CHANGES IN NET DEBT Al 1.4.23 Cash flow At 31,3.24 Net e•ih Cash at bank 393 343 232 414 160929 393 343 2J2 414 160929 Debt D¢b15 falling due within l year Debis falling duc aftcT l year (21)11.860) {208,8601 {1741899) 138 592 138 592 {1950 7591 Total The nolcs fomi part of Ihe5c financial 51al¢m¢n15 Page 14
NANAK RDW ETHWI Notes to the kinancial Stalem ts LAND & BUILDINGS All land and building lilles are regi%tered in the name of Makhan Singh, Mohan Singh, Davinder Sin8h and Hazura Singh Nagra {appointcd on Sunday 5th November 2017) as Holding Trustees for the beneficiaries, who ar¢ the Sadh Sangat (congregation), of Guru Nanak Gurdwara Smethwick. The trustees hold the premises in trust and shall be used as a place for publi¢ worship and religiou5 inslNciion according to the Sikh religion. AccouiYfINC POLICIES B4$ls of preparlng the flnanclal statements 'I'he financial slalem¢nis ol. Ihe chariiy, whi¢h is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'A¢couii¢ing and Reporting by Charities.. Siatem¢n¢ of Recomm¢nd¢d Pra¢¢ice applicable ¢0 charilie5 preparing their accounts in accordance with ih¢ Finan¢ial Reponing Siandard applicable in the UK and Republic of Ireland (FRS 102) {effe¢iiv¢ l January 2019),. Financial Reporting Siandard 102 'The Finan¢iAI Reporting Siandard applicable in the UK and Republic of Ireland, And ihe Charili¢s Act 2011. The financial siaiements have been PTepa¥ed under th¢ hisiorical ¢ost conveniion, as modificd by Ili¢ r¢volup¢ion of certain assels. In¢ome All ineome is re¢ognised in the Siatement of Financial Aetivilies once th¢ Chariiy has ¢nlitl¢men¢ io the fund5, 11 1$ probable that the incom¢ will b¢ re¢¢ived and th¢ omouni Can be measured reliably. Expendlture Liabiliiies ar¢ r¢¢ogDi5ed a5 expenditure a5 soon as Ihere is a legal or ¢onsiN¢iive obligation ¢ommittin¥ the Ch8Tlly 10 that expenditure, it is probable that a transfer of ¢conomi¢ benefits will be reqiiired in setilemeni and the amount of Ihe obligolion Can be measured reliably. Expenditure is accounted for on an accrua14 ba%15 and has been ¢lassificd under heading8 that ag8re8ale oll co81 related to the ettte80ry. Wlicr¢ cvsls Lannol be directly gttribuied to particular headings tliey have been allocaied lo 8clivili¢s on a ba415 consistent with Ili¢ use of r¢sour¢¢$. Tanglble flxed Aiseli Depr¢¢ialioii is provided oi the followti)B anrtual ra1¢5 in ord¢T ¢0 write otr each ayyel over it¥ esiimoi¢d useful life. Freehold property Improvementy lo property Fixtures ai)d fiiiiiiB% Computer equipmeni 2Vo on cosi 20/0 on r¢du¢ing balance 250/¢ 011 reduLin¥ balunLe 250/0 on reducing balan¢¢ Investm¢nt property Invesimeni properties are properties held lo earn r¢nial income andlor for capital oppr¢cialion. lftve5tment properties arc m¢a%uTed initially al cosi ai)d sub5cqu¢ii¢ly at fair value ai eaLh reponin¥ dale, wiih Changes in fair value recognized in the Sialemenl of Financial Activiti, Valuation Bagis and Process The invcslment properties were valued as at 3 F¢bwory 2021 by ChiYeTS Commercial, indepeiident Chartered Survcyors, aLlin¥ in the capacity of cxternal valuers. The valuers ar¢ m¢mb¢is of ihc Royal Institution of Ch8rt¢red SuTvcyofs IRICS) and have recent ¢xperien¢¢ in Ih¢ Televant location and category of ¢h¢ propertie5 being valued. The valuation was tsndertaken in accordance wilh the RICS Valuation Global Standards 2020. The Trusiees, 8r¢ of the opinion ihal, under current market conditions, this valuation remains ihe same. Propet1y Detail¥ #nd Fair Value5 The charity's investment property portfolio ¢ompri5¢5- 126 High Street fair value £280,OtKI Page 15 conlinu¢d..
URU NANAK URDWARA SMETHWICK Note5 to the Finanoial Statements- YEAR D 31 MARCH 2024 ACCOUNTING POLICIES - conllnued Investment property 122 High Sire¢1 fair value £270.000 116 Hi8h Street purchased during ihe year at cost £455.161 Income G¢ncrr¢tion During th¢ year, the investment properlies generated rental income of £48,742. Valuation Me¢hodology The valuations w¢re derived using the following methods: CompaiaiLV¢ llieil)od based on analy¥is of local markci evidence Investment method for in¢ome-producing cl¢ments The valuer applied o rotc £150-180 per squar¢ foot io the relail unli$ ba$ed on comparabl¢ mathei evidence. S¢curily All Gurdwara properties are h¢ld as 8ecurily against bank borrowin88 with Bar¢lays Bank PLC. TAxailon The ¢hariiy i& exempl from lax on its charithble activities. DONATIONS AND LEGACI 31.J.24 31.3.23 Donations Other Income ,501,952 1.534,747 1501952 1570 723 Grani$ received, included in the Above. are as follows.. 31.3.24 31.3.23 Other 8rant8 INVESTMkNT INCOME Invesim¢ni income r¢laies to rent received from the investmenl properti¢s 1122 and 126 High Street Smeihwick wliich (w¢r¢ valued in Febrnary 2021 ai £550,000). Page 16 corttinued...
U NANAK GURDWAR Notes to the Financial Statements- continu FOR THE YEAR ENDED O'I'HEK INCOME Other in¢ome (£200,000) relates to the fair value adjustmertt of122 and 126 High Str¢el, Sm¢ihwi¢k. RAISIIYG FUIYDS Ril8ln8 donatloni 4nd legacleB 31.J.24 31.3.23 Support ¢osls 320 720 Other trAdln8 •¢llvlile 31.3.24 31.3.23 Hire of plant and machinery A8gre8at¢ amoun1$ 337 735 CHARITABLE ACTIVITIES COSTS Support costs (5¢¢ nolc 8) Direct Costs Tolals Prinling/PostagelStaiionary 21,991 21,991 12,057 290,783 39,795 Sundry FoodlDrink In4uran¢e Waier 12,657 259,273 31,508 39,795 271932 128 782 400 714 Pag¢ 17 continued...
Noi s (o the Financi I Statemenis - continued FOR THE YEAR ENDED 31 MARCH 2024 SUPPORT COSTS Infornation l¢chnology Human resources Management Financ¢ Other resourees expended PriniingTroslagelSlationary 473,222 147,656 152,921 259,489 21,991 3,750 F(bodlDrink Insuran¢e W4fcT S,920 39,795 (12,755) 23,874 554 425 173 397 140 166 28J 363 Governance ¢OS¢s Oiher Other 3 Tola15 Other resourcc5 expended PrinlinglP05ta8elSialionary 17,746 2,000 70,148 1,123,l82 21,991 31,5U8 39,795 FoodlDrink In%urance Water 10,719 1251964 AUDITORS, REMUNERATION 31.3.24 31,3.23 Fees payabl¢ lo Ih¢ charity's auditors for the audit of the charity's fingn¢iol sial¢m¢nis io. TRUSTEES, REMUNERATION AND BEf4EFITS There were no lrnst¢¢s' r¢mun¢r81ion or oiher benefits for the year ended 31 March 2024 nor for the year ended 31 Mor¢h 2023. Trust¢t¥' expenses There were no Irusiees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. Page 18 continued...
he Fin FOR THE YEAR ENDF.D STAFF COSTS 31.3.24 31.3.23 Wages and salaries 196 557 168 573 196 $57 168 573 The average monihly number of employees during the year was as follow$'. 3l.3,24 31.3.23 10 Staff No employees received emoluments in excess of £60,000. 12. COMPARATIVES FOR THE STA'I'EMEN'f OF FINANCIAL AcfiviTIES Unr¢slri¢l¢d fund INCOMTr. AND FNDOWMENTS FROM Donations and1¢8aci¢s 1.570,723 Investment income 27.950 Total 1598 673 EXPENDITURE ON Raising funds 337.735 Charilable Actlvltle5 Suiidry Food/DTink 104.008 277.432 Other 579 943 Total 1299 118 NET INCOME 299,555 RECONCILIATION OF FUNDS Tii14tl fund5 bTou¥ht forward 9,867,718 TOTAL FUNDS CARRIED FORWARD 10 167 273 Page 19 continued..
NAN WARA SMETHWICK otes to the Financial Statemen continued ARCH 2024 13. TANCIBLE FIXED ASSETS In)proV¢n)1¥ lo properly Fix(ures and fittings Freehold property Computer equipment Toials COST At l April 2023 Additions 10,674,800 514,27 324,877 64 17,466 11,531,413 At 31 March 2024 10 674 800 514 270 333 241 11539777 DEPRKCIATIO Ai l April 2023 Charge for year 21,315 199,761 10,471 249 237,547 213 496 Al 31 March 2024 213 490 231040 492 430 NET BOOK VALUE Ai 31 March 2024 10 461304 48J 096 In2 2n1 746 11047347 Ai 31 March 2023 10 674 800 492 955 125 116 995 11293866 14. INVESTMENT PROPERTY FAIR VALUE Ai l April 2023 Addiiions Revalualion 350,000 45S,161 200 000 Ai 31 March 2024 1005 161 NET BOOK VALUE Ai 31 March 2024 1005 161 Ai 31 March 2023 350000 Fair value ai 31 March 2024 is repSented by.. Valuaiion in 2023 Valuation in 2024 350,OOD 6SS 161 1005 161 If 122 & 124 High Sireet had not been revalued 2021 would have be¢n included at the following hislori¢al cosl; 31.3.24 31.3.23 Cost 350 000 122 & 124 High Street 2021 valued on open market valuc basis on by £550.000. Page 20 ¢onlinued...
GUR NANAK G RDWARA SM E1CK Notes lo ihe Financi I S¢atcn]ents- continued NDED31M 024 14. INVESTMENT PROPERTY- contlnued 122 and 124 Hi8h Sireel Smethwick were valued at £550,000 in February 2021 and this fair value is reflected in these 8¢¢ounls. The Trustees are of the opinion thal this amounl rcmains reasonAbly Staled. 15. DKBTORS: AMOUNTS FALLIIYC DUE WITHIN ONE YEAR 31.3.24 31.3.23 Prepayments and a¢¢ru¢d income 16. CREDITORS: AMOUNTS FALLING DUE WITFIIN ONE YEAR 31.3.24 31.3.23 Bank loans and overdrafts18ee note 18) Taxation and social security Oih¢r credilors 208,860 208.860 41.601 142 439 422 817 309 240 17. CREDITORS: AMOUNTS FALLING DUE AFTF.R MORE TIIAIY ONE YEAR 3 1.3.24 31.3.23 Bank loans (se¢ nole 18) 741899 1603 307 18. LOANS An anolysi5 of the maiurity ofioan5 is givert below.. 31.3.24 31.3.23 Ajiiouiii& fyllin¥ due wiihin one year on demand.. Bank loan 208 860 208 860 Aiiiouiil¥ fdlling beiween one and iwo year8: Bank loans - 1-2 years 417720 417720 Amounts falling due belween two and five years.. Bank loan8- 2-5 year8 625 143 625 143 Aiiiouiils fAllin¥ due in more ihart five years.. Repayable by instalments: Bank IoAn3 more 5 yr by instal 099,036 560,444 Page21 continued...
U NANAK Notes to the Finan I Stat¢m¢nts- continued THE 19. SECURED DEBTS Th¢ following secured debts are included within creditors.. 31.3.24 31.3.23 Bank loans 1950 7S9 1.812 167 Bank loan5 are s¢cuied against the properties. 20. MOVEMENT IN FUNDS Net movem¢nl in furtds At 31.3.24 Ai 1.4.23 Unrestrlcted fund$ Genergl fund 10,167,273 (74,9061 10,092,367 TOTAL FUNDS 10 167 27J a74kn906) 67 Net movement in funds, included in the above are as follows.. Incomin8 resources Resources expended Movement in funds Unrestrlcted fund$ Generhl fllnd 1.750,776 (1,825,682) (74,906) TOTAL FUNDS 1750 770 Comparallves for movement In fundi N¢t mov¢m¢ni in funds At 31.3.23 At 1.4.22 Unrestrleted funds General fund 9,867,718 299,555 10,167,273 TOTAL FUNDS 9867718 299 555 10 167 273 Page 22 continued...
U NANAK RDW METHWI Notes to the Fin I Statements- contin ED 31 MARCH 2024 20. MOVEMENT IN FUNDS- ¢ootlnued Comparative net movement in funds, included in the above are as follow5.. Incoming r¢50Uc5 Resourc¢s expended Movcmeni in funds Unrestrle¢ed fundi General fund ,598,673 {1.299,118) 299.555 TOTAL FUNDS 1598 673 1299118) 299 555 A eurr¢Dt year 12 months and prior year 12 monihs combined p05iiion is a5 follows.. Nel movemcni in funds Ai 31.3.24 Al 1.4.22 Unrestrlcted funds General fund 9,867,718 224,649 10.092,367 TOTAL FUNDS 9 R67718 224 649 10 092 367 A CUTt¢nl year 12 months Bnd prior year 12 month5 combined n¢1 movement in funds, includ¢d in the above are a% follows: In¢omin8 resou¢S Resources expended Movem¢nl in funds Unr¢$trl¢ted funds G¢n¢ral fund 3,349,449 (3,124,800) 224,649 TOTAL FUNDS 3 349 449 -1 124 800} 224 649 21. RELATED PARTY DISCLOSURES There w¢r¢ no related party tran5&Ction5 for the year end¢d 31 March 2024. Poge 23