REGISTERED CHARITY NUMBER: 1156991
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 FOR
Guru Gobind Singh Gurdwara
Guru Gobind Singh Gurdwara
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 December 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 9 |
| Detailed Statement of Financial Activities | 10 |
Guru Gobind Singh Gurdwara
REPORT OF THE TRUSTEES
for the Year Ended 31 December 2022
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1156991
Principal address
221 Mary Street Balsall Heath Birmingham West Midlands B12 9RN
Trustees
Gurmeet Singh Suba Singh Lackwant Singh Nanak Singh
Independent examiner
Morgan Reach Chartered Certified Accountants Morgan Reach House 136 Hagley Road Birmingham West Midlands B16 9NX
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Guru Gobind Singh Gurduwara operates under a constitution adopted on 28 April 2004 and has been registered as a charity from 9 May 2014. Trustees are elected every five years and are persons of suitable background, who have understanding of the work undertaken by the charity and are supportive of its aims and objectives. Support and training are offered to new Trustees. No outside or related body is entitled to appoint Trustees. The Trustees agree to meet quarterly, as a minimum, in order to take responsibility for the direction and policy of the charity.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are to:
To advance the Sikh Religion in Birmingham Particularly in the doctrine of the Sri Guru Granth Sahib Ji in particular but not exclusively by:
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Providing facilities for religious worship, ceremonies and celebrations of important religious festivals
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To advance education for the public benefit in the Sikh ways of Life and worship among UK Citizens.
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To promote the cause of mutual understanding and strengthen bonds between the Sikh and other communities.
Public benefit
Guru Gobind Singh Gurdwara confirm that the charity Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties.
Page 1
Guru Gobind Singh Gurdwara
REPORT OF THE TRUSTEES
for the Year Ended 31 December 2022
FINANCIAL REVIEW
Reserves policy
The Trustees have agreed that funds should not be allowed to fall below the level of one month’s anticipated expenditure and aim to hold £100 in cash reserves, deemed necessary to cover running costs every day in the event of a major variation in circumstances. Spare reserves and unrestricted funds are monitored quarterly.
The results of the Charity for the year ended 31 December 2022 are set out in the financial statements. The principal bank account continues to be with HSBC. All cheques and outgoing payments require the signature of two trustees/appointed officers.
Approved by order of the board of trustees on 26 April 2024 and signed on its behalf by:
L Singh - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GURU GOBIND SINGH GURDWARA
I report on the accounts for the year ended 31 December 2022, which are set out on pages four to nine.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the 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.
My role is to state whether any material matters have come to my attention giving me cause to believe:
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that accounting records were not kept as required by section 130 of the Act; or
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that the accounts do not accord with those records; or
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that the accounts do not comply with the accounting requirements of the Act; or
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that there is further information needed for a proper understanding of the accounts.
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
Dr Kamran Shaikh FCCA Morgan Reach Chartered Certified Accountants Morgan Reach House 136 Hagley Road Birmingham West Midlands B16 9NX
10 May 2024
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Guru Gobind Singh Gurdwara
STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31 December 2022
| 31.12.22 | 31.12.21 | ||||
|---|---|---|---|---|---|
| Unrestricted | Total | Total | |||
| fund Restricted fund | funds | funds | |||
| Notes | £ | £ | £ | £ | |
| INCOMING RESOURCES | |||||
| Incoming resources from generated funds | |||||
| Voluntary income | 50,904 | - | 50,904 | 51,187 | |
| RESOURCES EXPENDED | |||||
| Costs of generating funds | |||||
| Costs of generating voluntary income | 12,193 | - | 12,193 | 7,721 | |
| Governance costs | 1,440 | - | 1,440 | 1,440 | |
| Other resources expended | 39,924 | - | 39,924 | 28,878 | |
| Total resources expended | 53,557 | - | 53,557 | 38,039 | |
| NET INCOMING/(OUTGOING) | |||||
| RESOURCES | (2,653) | - | (2,653) | 13,148 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 44,045 | - | 44,045 | 30,897 | |
| TOTAL FUNDS CARRIED FORWARD | 41,392 | - | 41,392 | 44,045 |
The notes form part of these financial statements
Page 4
Guru Gobind Singh Gurdwara
BALANCE SHEET At 31 December 2022
| 31.12.22 | 31.12.21 | ||||
|---|---|---|---|---|---|
| Unrestricted | Total | Total | |||
| fund Restricted fund | funds | funds | |||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 3 | 13,774 | - | 13,774 | 20,125 |
| CURRENT ASSETS | |||||
| Cash at bank and in hand | 32,047 | - | 32,047 | 26,909 | |
| CREDITORS | |||||
| Amounts falling due within one year | 4 | (4,429) | - | (4,429) | (2,989) |
| NET CURRENT ASSETS | 27,618 | - | 27,618 | 23,920 | |
| TOTAL ASSETS LESS CURRENT | |||||
| LIABILITIES | 41,392 | - | 41,392 | 44,045 | |
| NET ASSETS | 41,392 | - | 41,392 | 44,045 | |
| FUNDS | 5 | ||||
| Unrestricted funds | 41,392 | 44,045 | |||
| TOTAL FUNDS | 41,392 | 44,045 |
The financial statements were approved by the Board of Trustees on 26 April 2024 and were signed on its behalf by:
L Singh -Trustee
The notes form part of these financial statements
Page 5
Guru Gobind Singh Gurdwara
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2022
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
-
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.
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Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
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Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.
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All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource.
Tangible fixed assets Fixed Assets
All fixed assets are initially recorded at cost.
Depreciation
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:
Computer Equipment - 25% straight line Furniture and Fixtures & Fittings - 20% reducing balance Improvements to the property - 33% straight line
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
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Guru Gobind Singh Gurdwara
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the Year Ended 31 December 2022
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
3. TANGIBLE FIXED ASSETS
| Improvements Fixtures and Computer to property fittings equipment £ £ £ COST At 1 January 2022 46,383 42,654 13,509 Additions - - 4,556 At 31 December 2022 46,383 42,654 18,065 DEPRECIATION At 1 January 2022 40,069 31,170 11,182 Charge for year 3,685 3,061 4,161 At 31 December 2022 43,754 34,231 15,343 NET BOOK VALUE At 31 December 2022 2,629 8,423 2,722 At 31 December 2021 6,314 11,484 2,327 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.22 £ Other creditors 4,429 MOVEMENT IN FUNDS Net movement At 1.1.22 in funds At £ £ Unrestricted funds General fund 44,045 (2,653) TOTAL FUNDS 44,045 (2,653) |
Totals £ 102,546 4,556 |
Totals £ 102,546 4,556 |
|---|---|---|
| 107,102 | ||
| 82,421 10,907 |
||
| 93,328 | ||
| 13,774 | ||
| 20,125 | ||
| 31.12.21 £ 2,989 31.12.22 £ 41,392 41,392 |
||
| 41,392 |
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5. MOVEMENT IN FUNDS
Page 7
Guru Gobind Singh Gurdwara
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the Year Ended 31 December 2022
5. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement in | ||
|---|---|---|---|---|
| resources | expended | funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 50,904 | (53,557) | (2,653) | |
| TOTAL FUNDS | 50,904 | (53,557) | (2,653) | |
| Comparatives for movement in funds | ||||
| Net movement | ||||
| At 1.1.21 | in funds | At 31.12.21 | ||
| £ | £ | £ | ||
| Unrestricted Funds | ||||
| General fund | 30,897 | 13,148 | 44,045 | |
| TOTAL FUNDS | 30,897 | 13,148 | 44,045 | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement in | ||
| resources | expended | funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 51,187 | (38,039) | 13,148 | |
| TOTAL FUNDS | 51,187 | (38,039) | 13,148 | |
| A current year 12 months and prior year 12 months combined position is as follows: | ||||
| Net movement | ||||
| At 1.1.21 | in funds | At 31.12.22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 30,897 | 10,495 | 41,392 | |
| TOTAL FUNDS | 30,897 | 10,495 | 41,392 |
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Guru Gobind Singh Gurdwara
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the Year Ended 31 December 2022
5. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement in | |
|---|---|---|---|
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 102,091 | (91,596) | 10,495 |
| TOTAL FUNDS | 102,091 | (91,596) | 10,495 |
6. RELATED PARTY DISCLOSURES
No members of the management committee received any remuneration during the year.
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year.
During the year no payment or reimbursement of out-of-pocket expenses were made to trustees or third parties for expenses incurred by trustees.
Page 9
Guru Gobind Singh Gurdwara
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2022
| 31.12.22 | 31.12.21 | |
|---|---|---|
| £ | £ | |
| INCOMING RESOURCES | ||
| Voluntary income | ||
| Donations | 50,904 | 51,187 |
| Total incoming resources | 50,904 | 51,187 |
| RESOURCES EXPENDED | ||
| Costs of generating voluntary income | ||
| Giani Ji | 9,411 | 5,411 |
| Kirtani/Jhtha | 1,562 | 814 |
| Langer/Seva | 1,220 | 1,496 |
| 12,193 | 7,721 | |
| Governance costs | ||
| Accountancy | 1,440 | 1,440 |
| Other resources expended | ||
| Insurance | 1,784 | 1,788 |
| Light & Heat | 14,861 | 4,999 |
| Pest Control | 324 | 536 |
| Postage | 394 | 432 |
| Repairs and Maintenance | 8,320 | 8,220 |
| Subscriptions | 596 | 882 |
| Cleaning | 651 | 446 |
| Telephone and Fax | 1,191 | 1,132 |
| Water and Rates | 897 | 448 |
| 29,018 | 18,883 | |
| Support costs | ||
| Management | ||
| Improvements to property | 3,686 | 3,685 |
| Fixtures and fittings | 4,160 | 3,061 |
| Computer equipment | 3,060 | 3,249 |
| 10,906 | 9,995 | |
| Total resources expended | 53,557 | 38,039 |
| Net (expenditure)/income | (2,653) | 13,148 |
This page does not form part of the statutory financial statements
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