NANAK NAAM
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 December 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |
NANAK NAAM
REPORT OF THE TRUSTEES for the Year Ended 31 December 2020
The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. 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).
OBJECTIVES AND ACTIVITIES
Nanak Naam was established based on an idea, that the message of great spiritual master, Guru Nanak, is truly universal and relevant to everyone regardless of religion, race or gender and exists to help every single man, woman and child on Earth. We believe that the life-changing wisdom of the Guru has the power to cure some of the greatest emotional and mental well-being issues that we face today.
The object of the charity as stated in its governing document is:
For the public benefit the advancement of the Sikh religion, primarily but not exclusively, in particular the ancient practice of meditation.
Here at Nanak Naam we believe everyone should know and experience spiritual bliss for themselves. And we're on a mission to bring light to the revolutionary mindfulness wisdom of Sikh spirituality (Gurmat) and to empower people to apply these practices into their lifestyle.
We do this by:
1 - Promoting the non-dualistic spiritual wisdom of Gurmat through online video, social media, literature, public speaking, courses and meet-up events.
2 - Promoting Sikh meditative practices to help preserve mental well-being for the benefit of everyone.
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NANAK NAAM
REPORT OF THE TRUSTEES
for the Year Ended 31 December 2020
ACHIEVEMENT AND PERFORMANCE
EDUCATIONAL RESOURCES
As part of our ongoing commitment to producing free educational materials on mental-wellbeing based on the spiritual wisdom of Oneness, in 2020 Nanak Naam published full-length videos on:
-
Anand Sahib - a 40-part video series translating and explaining the sacred verses into English which teach mankind about the path to inner-peace through self-awareness.
-
Religion vs Secularism
-
Teachings of Sikhism - Guru Nanak's core teaching of realising Divine Flow to remove our false identity.
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Happiness Is Within You
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Naam Kills The Ego - The ultimate purpose of spirituality is to remove our false identity through (Haumai) and adopt a
-
Divine-perspective
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Is There More To Life? - The inner journey to self-discovery
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What Is Maya? - An exploration of materialism and our dependency on the physical dimension of life.
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If God Exists Then Why Do Bad Thing Happen?
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Guru Nanak's Interfaith Message - A Gurmat-based response to the interfaith paradigm.
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What Is Yoga? - Spiritual union explained through the wisdom of Oneness.
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How To Control Habits - Overcoming addictions and negative habits
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How To Connect with Naam - An explanation of meditation using Mantra (wisdom words) to connect with higher
-
awareness.
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Why Should I Be A Sikh - Religion and spiritualty explored
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Guru Nanak Can Heal The World - Inner and Global healing through the spiritual teachings of Guru Nanak
In addition to these numerous short-videos were also published as excerpts and summaries from the above lectures as well as Q&A's answering the public's questions on various life-issues.
EVENTS & COURSES
In early March 2020, our founder Satpal Singh travelled to Houston and Dallas in Texas, USA as a guest speaker at live speaking-events.
Due to global lockdowns caused by the Coronavirus pandemic we were unable to run our 'Awaken The Guru Within' 2-day masterclass. In response to this, the masterclass was published and released as an online-course. In addition, we held monthly online events which were live-streamed on our social channels to provide the public with meditations and guidance on personal issues to help cope with the increased mental-health crisis brought on the pandemic.
BOOKS & LITERATURE
Working with ColouringCulture.com, we were pleased to author and published a book called the 'The SIKH Art Therapy Collection', the world's first art-therapy book to aid adult mental-wellness using Gurmat spiritual wisdom.
Our printed booklets on 'How to find happiness' and 'How to meditate' continue to be available to download freely from our website.
MEDIA COVERAGE & ONLINE REACH
Our charity was fortunate to be featured on a number of press and media outlets including:
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NANAK NAAM
REPORT OF THE TRUSTEES for the Year Ended 31 December 2020
-
BBC Asian Network Radio
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One World: Together At Home hosted by Global Citizen and the World Health Org
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Basement Banter - podcast with singer Jay Sean
-
Be Here Now Network - podcast with the American TV personality Nikki Walton
-
Mystics of India - podcast with Yogini Shlloka and Indian celebrity host Dr. Nidhi Kumar
-
Sikhnet Media Library
Our key social media channels in 2020 grew by
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YouTube from 62K to 90K subscribers,
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Facebook Page from 78K to 102K followers.
-
Instagram from 19,000 to 55K followers.
We also developed and expanded our audio-based content onto newer platforms such as Spotify and Google Podcasts.
In April we launched a new redesigned version of our charity website which allows for improvements in how our supporters can understand more about our organisation and services in a clear and structured way. The redesigned site now matches social channels and offers consistent brand recognition. Regular newsletters are also now sent to our email subscribers to keep them updated on a monthly basis of the charity's activities and achievements. Finally, technical improvements were made to include additional ways for supporters to make a donation directly from their credit/debit card without the need for a PayPal account. This lead to a substantial increase in the number of donations received.
FINANCIAL REVIEW
In 2020 we set a fundraising target of £130K. Thanks to the generous support of our donors we were able to raise over £245K. The vast majority of our funding was received from individual donors. Other funds were raised from our online course, YouTube advertising as well as merchandise sales.
Capital expense costs such as the purchase of camera and computer equipment were kept low. However, the major operational expenses for the year occurred in the hire of personnel for video editing, web development, marketing, administration, education & research as well as management. Additional operational costs included the hire of office and filming-studio space as well as software subscriptions.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Nanak Naam began as a project in 2013 to fill a gap in the availability of online educational materials in English on the non-dual and transformational well-being wisdom of Sikh spirituality. We delivered lectures and courses and the related video recordings were posted onto YouTube. Due to the popularity and public demand of these courses and videos, Nanak Naam evolved and developed its offerings further and on the 7th of March 2017 the organisation was registered as a charity in England and Wales with the Charities Commission.
The charity is incorporated as a Charitable Incorporated Organisation (CIO) and controlled by a constitution as its governing document.
The charity is managed by its trustees. All three trustees were recruited due to their commitment and a keen interest in promoting the work of Nanak Naam and had all been instrumental in helping to coordinate courses for our organisation as well as providing guidance on strategic planning.
The trustees appointed Mr. Satpal Singh as CEO to research and deliver educational materials as well as manage the day-to-day running of the charity.
The charity also relies on dedicated volunteers and freelancers to support many of the charity's core tasks such as audio and video editing, marketing and event planning.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1171938
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NANAK NAAM
REPORT OF THE TRUSTEES for the Year Ended 31 December 2020
Principal address
2 Honeysuckle Close Iver Buckinghamshire SL0 0LZ
Trustees
J S Sagoo G S Bansal R S Mudhar
Approved by order of the board of trustees on ............................................. and signed on its behalf by: 28 Oct 2021
.......................................................................... J S Sagoo - Trustee
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NANAK NAAM
STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31 December 2020
| 31.12.20 | 31.12.19 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOMING RESOURCES FROM | |||
| Voluntary income | 226,007 | 68,788 | |
| Incoming resources from charitable activities | |||
| Other Charitable Activities | 4,089 | 2,604 | |
| Other incoming resources | 18,408 | 31,221 | |
| Total | 248,504 | 102,613 | |
| RESOURCES EXPENDED ON | |||
| Other resources expended | 101,749 | 84,673 | |
| NET INCOME | 146,755 | 17,940 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 47,073 | 29,133 | |
| TOTAL FUNDS CARRIED FORWARD | 193,828 | 47,073 |
The notes form part of these financial statements
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NANAK NAAM
BALANCE SHEET
31 December 2020
| 31.12.20 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 4 7,326 CURRENT ASSETS Cash at bank 186,500 CREDITORS Amounts falling due within one year 5 2 NET CURRENT ASSETS 186,502 TOTAL ASSETS LESS CURRENT LIABILITIES 193,828 NET ASSETS 193,828 FUNDS 6 Unrestricted funds 193,828 TOTAL FUNDS 193,828 |
31.12.19 Total funds £ 3,092 45,631 (1,650) 43,981 47,073 47,073 47,073 47,073 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on .............................................28 Oct 2021 and were signed on its behalf by:
............................................. J S Sagoo - Trustee
The notes form part of these financial statements
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NANAK NAAM
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
continued...
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NANAK NAAM
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOMING RESOURCES FROM | |
| Voluntary income | 68,788 |
| Incoming resources from charitable activities | |
| Other Charitable Activities | 2,604 |
| Other incoming resources | 31,221 |
| Total | 102,613 |
| RESOURCES EXPENDED ON | |
| Other resources expended | 84,673 |
| NET INCOME | 17,940 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 29,133 |
| TOTAL FUNDS CARRIED FORWARD | 47,073 |
continued...
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NANAK NAAM
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2020
4. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |
|---|---|
| Plant and | |
| machinery | |
| etc | |
| £ | |
| COST | |
| At 1 January 2020 | 5,273 |
| Additions | 5,222 |
| At 31 December 2020 | 10,495 |
| DEPRECIATION | |
| At 1 January 2020 | 2,181 |
| Charge for year | 988 |
| At 31 December 2020 | 3,169 |
| NET BOOK VALUE | |
| At 31 December 2020 | 7,326 |
| At 31 December 2019 | 3,092 |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Computer & equipment- 20% Written Down Value
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors 6. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS |
At 1.1.20 £ 47,073 47,073 |
31.12.20 £ (2) Net movement in funds £ 146,755 146,755 |
31.12.19 £ 1,650 At 31.12.20 £ 193,828 |
|---|---|---|---|
| 193,828 |
continued...
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NANAK NAAM
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020
6. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 248,504 248,504 |
Resources Movement expended in funds £ £ (101,749) 146,755 (101,749) 146,755 |
Resources Movement expended in funds £ £ (101,749) 146,755 (101,749) 146,755 |
|---|---|---|---|
| 146,755 |
Comparatives for movement in funds
| At 1.1.19 £ Unrestricted funds General fund 29,133 TOTAL FUNDS 29,133 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 102,613 TOTAL FUNDS 102,613 |
Net movement At in funds 31.12.19 £ £ 17,940 47,073 17,940 47,073 Resources Movement expended in funds £ £ (84,673) 17,940 (84,673) 17,940 |
Net movement At in funds 31.12.19 £ £ 17,940 47,073 17,940 47,073 Resources Movement expended in funds £ £ (84,673) 17,940 (84,673) 17,940 |
|---|---|---|
| 17,940 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.19 £ 29,133 29,133 |
Net movement in funds £ 164,695 164,695 |
At 31.12.20 £ 193,828 |
|---|---|---|---|
| 193,828 |
continued...
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NANAK NAAM
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2020
6. 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:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 351,117 351,117 |
Resources Movement expended in funds £ £ (186,422) 164,695 (186,422) 164,695 |
|---|---|---|
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2020.
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NANAK NAAM
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2020
| 31.12.20 | 31.12.19 | |
|---|---|---|
| £ | £ | |
| INCOMING RESOURCES | ||
| Voluntary income | ||
| Donations | 226,007 | 68,788 |
| Incoming resources from charitable activities | ||
| Merchandise Income | 4,089 | 2,604 |
| Other incoming resources | ||
| Advertising Income | 6,759 | 413 |
| Events Income | - | 30,758 |
| Sundry Income | 1,649 | 50 |
| Grant Income | 10,000 | - |
| 18,408 | 31,221 | |
| Total incoming resources | 248,504 | 102,613 |
| RESOURCES EXPENDED | ||
| Other resources expended | ||
| Other operating leases | 6,829 | - |
| Staff Training | - | 475 |
| Professional Fees | 61,007 | 40,000 |
| Advertising & Promotional | - | 300 |
| Other Direct Costs | 657 | - |
| Video Editing Fees | 26,594 | 11,840 |
| Event Fees | - | 4,022 |
| Foreign Exchange Gain/Loss | 491 | - |
| 95,578 | 56,637 | |
| Support costs | ||
| Finance | ||
| Bank charges | 1,637 | 963 |
| Information technology | ||
| Software Costs | 1,870 | 1,023 |
| Other | ||
| Consultancy Fees | - | 22,500 |
| Telephone | 159 | 163 |
| Postage and stationery | 98 | 80 |
| Carried forward | 257 | 22,743 |
This page does not form part of the statutory financial statements
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NANAK NAAM
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31 December 2020
| 31.12.20 | 31.12.19 | |
|---|---|---|
| £ | £ | |
| Other | ||
| Brought forward | 257 | 22,743 |
| Sundries | 456 | 1,020 |
| Travel | 762 | 1,514 |
| Computer equipment | 988 | 773 |
| 2,463 | 26,050 | |
| Other 2 | ||
| Computer cost | 201 | - |
| Total resources expended | 101,749 | 84,673 |
| Net income | 146,755 | 17,940 |
This page does not form part of the statutory financial statements
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