2022-12-31-accounts - Nanak Naam

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REGISTERED CHARITY NUMBER: 1171938

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

NANAK NAAM

PN BEARE & CO CHARTERED CERTIFIED ACCOUNTANTS 101a CROW GREEN ROAD PILGRIMS HATCH BRENTWOOD ESSEX CM15 9RP

NANAK NAAM

CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 December 2022

	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 Trustee's Annual Report Year ended 31 December 2022

The trustees present their report and the financial statements of the charity for the year ended 31 December 2022

Reference and administrative details

Registered Charity name NANAK NAAM Charity registration number 1171938 Principal office 2 Honeysuckle Close Iver, Buckinghamshire SL0 0LZ The Trustees Mr Jaspal Singh Sagoo Mr Gurdev Singh Bansal Mr Rajbir Singh Mudhar Chief Executive Officer Mr Satpal Singh Accountants Stevenson & Co Accounts Limited 101a Crow Green Road Pilgrims Hatch Brentwood Essex CM15 9RP

Page 1

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 on 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 and 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 co-ordinate 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 team of staff and freelancers to support many of the charity's core tasks such as audio and video filming, editing and marketing.

Objectives and activities

Nanak Naam was established based on an idea, that the message of the 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 he greatest emotional and mental wellbeing 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 not exclusively, in particular the ancient practice of meditation.

Here at Nanak Naam we believe everyone should know and experience spiritual wellbeing for themselves. And we're on a mission to bring light to the wisdom of Spiritual Oneness and to empower people to apply these practices into their lifestyle.

We do this by:

Promoting the non-dualistic spiritual wisdom of Oneness, as taught by Guru Granth Sahib ji, through online video, social media, literature, public speaking, courses and meet-up events

Page 2

Promoting meditative practices to help preserve mental well-being for the benefit to everyone.

Achievements 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 2022 Nanak Naam released

Educational videos - In-depth lectures, podcasts and shorts covering Anxiety, Stress Management at work, Dealing with negative emotions, Spiritual philosophy, Self-awareness.
Throughout the year our YouTube channel was viewed by 1.8 million people in 170 different countries.
Guided Meditations - including a world's first 'Kirtan Guided Meditation' based on verses from Gurbani.
Punjabi YouTube Channel - multiple lectures and short videos translated into Punjabi.

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.

ONLINE COURSES

We launched 'Living With Wisdom', a ground-breaking 10 part video series and interactive course designed for global audiences to help answer life's biggest questions. Our dedicated course website was re-designed and relaunched under the new brand LivingWithWisdom.org which now houses our courses, all of which ae available to access for free to the public. In 2022 we received close to 7000 new registered members for our courses.

WISDOM GROUPS

Our new initiative was successfully launched to establish learning-groups around the world that allow members of the public to informally meet and learn our courses in a friendly and relaxed way. We hired a dedicated 'Communities Co-ordinator' who works closely with institutions to support the set up and running of 'wisdom groups'. In 2022 we were able to start 14 groups across the UK, USA, Canada, France and India.

COMMUNITY SUPPORT

We continue to provide vital support and spiritual guidance to help anyone resolve their questions or concerns about their real-life issues. Thanks to our global community of contributors to our online group. We are ever thankful to our wonderful team volunteer group-moderators who help manage the online community daily to ensure that it is a safe and nurturing space for spiritual support.

Page 3

LIVE EVENTS

No live events were held or attended in 2022. The management team made the decision to focus on developing and delivering high-quality content and courses online.

BOOKS & LITERATURE

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 key social media channels (English content) in 2021 grew by

YouTube from 141K to 197K subscribers.
Facebook Page from 110K to 123K followers.
Instagram from 65K to 103K followers.
Tiktok was a new channel launched for us which gained 37K followers.
Podcast: we were proud to be featured on the BeerBiceps podcast which is one of India's largest podcasts.

Financial Review

In 2022 we set a fundraising target of £250K. Thanks to the generous support of our donors we were able to raise almost £290K. Most of our income was received from individual donors. Other funds were raised from our successful fundraising campaign, in partnership with the Dasvand Network, for developing Global Learning Groups. Other funds were raised from sources such as YouTube ad revenue as well as merchandise sales.

Capital expense costs such as the purchase of camera and computer equipment were kept low. The major operational expenses for the year occurred in the hire of personnel for video editing, 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 and finance transaction fees.

The trustees' annual report was approved on 18th August 2023 and signed on behalf of the board of trustees by:

Mr JS Sagoo

Page 4

NANAK NAAM

STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 December 2022

Notes INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Other charitable activities - merchandise income Other income Total EXPENDITURE Total resources expended on charitable activities NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Year Ended 31.12.22 Unrestricted fund £ 278,620 1,033 9,044 288,697 186,369 102,328 312,763 415,091	Year Ended 31.12.21 Unrestricted fund £ 284,862 3,148 9,432 297,442 178,507 118,935 193,828 312,763

The notes form part of these financial statements

Page 5

NANAK NAAM

BALANCE SHEET 31 December 2022

Notes FIXED ASETS Tangible assets 4 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 5 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILTIES NET ASSETS FUNDS Unrestricted funds 7 TOTAL FUNDS	Year Ended 31.12.22 Unrestricted fund £ 7,310 420,267 (12,486) 407,781 415,091 415,091 415,091 415,091	Year Ended 31.12.21 Unrestricted fund £ 9,138 308,912 (5,287) 303,625 312,763 312,763 312,763 312,763

The financial statements were approved by the Board of Trustees and authorised for issue on 18th August 2023 and were signed on its behalf by:-

JS Sagoo - Trustee

The notes form part of these financial statements

Page 6

NANAK NAAM

NOTES TO THE FINANCIAL STATEMENT for the year ended 31 December 2022

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 bases and has been classified under headings and aggregate at 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 time basis over the period of the lease.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Page 7

NANAK NAAM

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2022

2 TRUSTEE'S REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor the period ended 31 December 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2022 nor for the period ended 31 December 2021.

3 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

	Unrestricted
	fund
INCOME AND ENDOWMENTS FROM	£
Donations and legacies	284,862
Charitable activities
Other charitable activities - merchandise income	3,148
Other income	9,432
Total	297,442
EXPENDITURE ON
Other	178,507
NET INCOME	118,935
RECONCILIATION OF FUNDS
Total funds brought forward	193,828
TOTAL FUNDS CARRIED FORWARD	312,763

Page 8

NANAK NAAM

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2022

4 TANGIBLE FIXED ASSETS

COST As at 1 January 2022 Additions At 31 December 2022 DEPRECIATION At 1 January 2022 Charge for year At 31 December 2022 NET BOOK VALUE At 31 December 2022 At 31 December 2021	14,430 - 14,430 5,292 1,828 7,120 7,310 9,138 Computer Equipment £

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

Bank loans and overdrafts (see note 6) Payroll Costs Social security and other taxes Pension payable Trustee's Loan Account 6 LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts	31.12.22 £ - 6,449 5,479 558 - 12,486 31.12.22 £ -	31.12.21 £ 38 - 4,040 1,209 - 5,287 31.12.21 £ 38

continued.......

Page 9

NANAK NAAM

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2022

7 MOVEMENT IN FUNDS At 1.1.22 £ Unrestricted funds Charitable Activities 312,763 TOTAL FUNDS 312,763 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds Charitable Activities 288,697 288,697 Comparatives for movement in funds At 1.1.21 £ Unrestricted funds Charitable Activities 193,828 TOTAL FUNDS 193,828 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds Charitable Activities 297,442 TOTAL FUNDS 297,442	Net movement in funds £ 102,328 102,328 Resources expended £ 186,369 186,369 Net movement in funds £ 118,935 118,935 Resources expended £ 178,507 178,507	At 31.12.22 £ 415,091 415,091 Movement in funds £ 102,328 102,328 At 31.12.21 £ 312,763 312,763 Movement in funds £ 118,935 118,935

continued...

Page 10

NANAK NAAM

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2022

8 RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2022.

Page 11

NANAK NAAM

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 December 2022

INCOME AND ENDOWMENTS FROM Donations and legacies Donations Charitable activities Merchandise Income Other income Advertising Income Sundry Income Grant Income Total incoming resources EXPENDITURE Other Other operating leases Professional fees Video editing fees Foreign exchange gain/loss Support costs Staff salaries Social security Pensions Insurance Finance Bank charges	Year Ended 31.12.22 £ 278,620 1,033 9,044 - - 288,697 - 34,895 5,393 781 41,069 105,888 12,085 2,753 216 120,942 4,278	Year Ended 31.12.21 £ 284,862 3,148 9,335 97 - 297,442 9,992 36,388 15,708 467 62,555 99,511 6,343 1,563 183 107,600 1,820

This page does not form part of the statutory financial statements

Page 12

NANAK NAAM

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 December 2022

Information technology Computer equipment Software costs Other Rent Consultancy Fees Telephone Postage and stationery Sundries Travel Total resources expended Net income	Year Ended 31.12.22 £ 3,146 2,638 5,784 14,030 - 229 37 - - 14,296 186,369 102,328	Year Ended 31.12.21 £ 2,261 2,405 4,666 - 238 162 272 789 405 1,866 178,507 118,935

This page does not form part of the statutory financial statements

Page 13

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ Charity Name Nanak Naam members of On accounts for the year 31/12/2022 Charity no 1171938 ended (if any) Set out on pages 5 to 13 (remember to include the page numbers of additional sheets)

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/12/2022.
Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”) .

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention (other than that disclosed below *) in connection with the examination which gives me cause to believe that in, any material respect:

accounting records were not kept in accordance with section 130 of the Act or
the accounts do not accord with the accounting records

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Please delete the words in the brackets if they do not apply.

Signed: Date: 29/09/2023 Name: Mandeep Ubhi Relevant professional FCCA qualification(s) or body (if any):

Address: 239 Kensington High Street London W8 6SN

Section B Disclosure

Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

IER

Give here brief details of any items that the examiner wishes to disclose .

IER