Charity registration number 258487 GURU NANAK SIKH TEMPLE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 SIKIIG(/ SEDGLEYSTREET
GURU NANAK SIKH TEMPLE LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr Gumiukh Singh Mr Santokh Singh Mr Malkit Singh Mr Piara Sinoh Charity number (England and Wales) 258487 Principal addres5 Sedgley Street Wolverhamplon West Midlands WV2 3AJ Auditor BK Plus Audit Limited Suite GA, St, George's House Lever Street WoSverhampton England WI2 IEZ
GURU NANAK SIKH TEMPLE CONTENTS Page Trustees, report Statement of trustees. responsibilities Independent aLJditoVs report 9- 11 Statement of financial activities 12 Balance sheet 13 Statetnent of cash flows 14 Notes to the financial statements 15-22
GURU NANAK SIKH TEMPLE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MA Y 2024 The Guru Nanak Sikh Temple present their annual rgport and finanaal statements for th& year ended 31 May 2024. The finanaal statements have been prepared in accordance with tho aecounting policies set out in notè 1 to the financial ststements and comply with the charily's goveming document. the Charities Act 2011 and "Accoumting and Reporting by Charities.. Slalement of Recornmended Practice applicable to charities preparing their accounts in accordan with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191. Objectivès and actlvlties The objectives of the Charity continue to be the furtherance of the Sikh Religion in accordance with thé teaching of Sri Guru Granlh Sahib Ji. The primary objective ol the Charity is to enable those of a Sikh heritage, be it as initiated Ib8Ptisedl Sikhs (known as Amritdharil or those on the path of Sikhi aspiring to become Amritdhari at sorn8 point In their joumey - to share a place of worship as part ol thé Sangat Icongregationl in receiving the spiritual fulfilrnent of their mind and soul from the teachings of Sri Guru Granth Sahib Ji and Guru Ka Langar (communal kitchen serving blessed loodl for the physical sustenance ol their body. Th8 Charity prides itself on being able to extend its building and its volunteers, time lo all members of the ommunity. With over thirty years of selfless service from its current location. Guru Nanak Sikh Temple continues lo be true to its core principles ol love, cornpassion, s3crifice, seNice, truthfulness and forgiveness, which transcends the barriers of human frailties. These core teachings are best seNed by Sri Guru Namak Dev Ji, the first Sikh Guru and founder of the Sikh f8lth - Naam Jappau using the glorious pralses ol Waheguru (Godl in all we do. Kiral Karo use your Waheguru (Godl given gifts to earn your keep, eam an honest living through hard work 2nd eNde2vour. Van Shako- share your good fortume with those less fortunate, be it food. kn(>wledge or just being there In their time of need. This year the Charity's objectives were as follows.. 1. Practice of Sikhi-. to provide facilities to enable followers of the Sikh religion to practise their faith in a oonvenient and conducive environment in accordance to Sikh Rehat Maryada i.e. the prinoples and rules laid down by th8 Ten Gurus and Sri Gutu Granlh Sahib (The Holy Scriptures). 2. Celebration of key Sikh G8lend8r events which commemorate and rejoice the Sikhi spiritual and rnartial spirit. 3. Education and sports.. ensure the Charity delivers education on both th8 Sikh religion and Punjabi language, providing opportunities lor sports and the distribution of non-faith information and education. 4. Community Focus and Public Benefit." focus on the community Integration and diversily, the Témple has always en an 'open door. policy for all the community during its core hours of operation.
GURU NANAK SIKH TEMPLE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 Public benefit The Trustees have had due reg8rd to the Charity Commission's guid8nc8 on public benefit. In particular, Guru Nanak Sikh Temple continues to provid8 public benefit in relation lo the advancement of religion and of community development particularfy through its education and youth activities which involves all rnembers of the local community. Volunteers Many volunteers give up their time to help at the Gurdwara, particularly at weekends and in the evenings. We are greatly indebted to these volunteers for their commitment and support. Without our voluntèèrs, the Charity would not be able to lulfil its obligations to the extent it manages so effectively. Practice of Sikhi: The Guru Nanak Sikh Temple currently has seven Granthis (Priestsl who perform all the core religious services both at the Gurdwara premises and at the ¢ongregation's home dwellings. The Gurdwara is open daily between 4am to 9pm. Daily morning and evening services are ¢onducted inside the Gurdwara. Servis and other practices according to the Sikh Reh2t Maryada Isikh Code ol Conduct) are perfonned for Weddings, Birthdays, New born Name-Giving Ceremonies, Funerals and amy other occasion according to the needs of the worshippers throughout the year. Regulsr daily serviceslprayers are conducted at the followino times.. Monday to Friday 4.00am to 10.00am (Nitnem and moming services) 6.00pm to 8.00pm IRehras and evening servi¢esl Friday, Saturday and Sunday 10.30am to 1 30pm (Sri Akhand Path Sahlbl The Gurdwara Management Committee has invited over 30 world renowned Kirtan (narrating, reciting and telling of Sikhi based compositions to music) and Jath8's Igroup of Sikh singers and musicians). Guru-ka-langar Ilree kitchen for alS1- a k8y tenet of Sikh Code of Conduct, support8d and kept running throughout the year.
GURU NANAK SIKH TEMPLE TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 Celebration of Sikhi and Sikh beliefs.. The Guru Nanak Sikh Temple celebrates all main events on the Sikh Calendar. All the major Gurpurab (special religious anniversariesl and Sangrand services are held at the st8rt of each month. An annual Nagar Kirtan Ithe procession of the Sikh congregation led by Sri Guru Granlh Sahib Ji through ils local neighbourhoodl in the month ol April is organised to celebrate the birthday of the Sikh Nation - the Khalsa Panth. This h8s proved very popular not only amongst the Sikh populations, bul also the wider local wrnmunity. We have used this as a springboard as a means ol interaction and dialogue with our local community. The Nagar Kirtan was atlended by over 9,000 people who line the streets. The Guru Nanak Sikh Temple volunteers provide free refreshments and food to all members of the public who line up along the route. The event is covered by local English and Punjabi press as well as by Sikh TV and Radio Channels. The event is also an excellent example of working with a host of Ioc81 service providers i.e. the police, council, inter-faith groups and neighbourhood meetings wilh local businesses. The Guru Nanak Sikh Temple funds and supports the Guru Nanak Khalsa College, which ¢onducts Punjabi language classès in the premises 8very Saturday and Sunday. Approximately 800 students are currer)tly on role and altend over the weekend. Thirty-seven-part time teaching staff are employed, every tèacher commands Punjabi language skills to be able to teach children up to A Level standard. In 2ddition to Punjabi language teaching, the Guru Nanak Sikh Gurdwara promdes Sikh educational classes which are open lo all from the community.. l. Kirtan ¢Sasses, Classical Sikh hymns recit818 2. T2bla and Hamonium ¢lasses. Learning to play rnusical instiuments 3. Gurmallsikhi, weekly classes to teach the Sikh teachings and correct recital of Ihe Holy Scriptures. 4. Weekly Gatka Class Isikh Martial Arts lor self-defensel 5. Wrestling and Karate dasses have been running since April 2018, Sikhi camps are run by the local youth group who are supported by the 'Sikh Helpline, la nationwide Sikh free phone advisory support group which is staffed to help vulnerable chIldn and adults). The camp is held every y8ar during the summer schwl holidays, attendance grows every year with around 200 children participating in Ihe vanous splritual and general well-being activities which a150 incorporate sports. The camp is fully funded by the Templg and volunteers. Numerous classes are held both on Sikhi and also awareness classes around the dangers ol drugs, violEnce and sexual exploitation related crimes etc. Specialist qualified speakers are invited to addsS the key subjed matters. Autlsm support for asian famllles Autism is a lifelong developm8ntal disability that affects how people perceive the world and inter8d with others. Autistic p8ople see, hear and feel the wodd differently to other people. If you are autistic, you are autistic for life,. autism is not 8n illness or disease and cannot be 'cured'. Often people feel being autistic is a fundamental aspect of their identity. Autism is not as well und8lStood and recognised within Asian families as it should be. Guru Nanak Sikh Gurdwara has continued its support for a lo1 charity - Hope & Compassion who hold Autism and learning difficulty awareness events at the Gurdwara.
GURU NANAK SIKH TEMPLE TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 Achievements and performancè Revlew of performance The following highlights some ol the key results delivered during the year'.- Community focus and public benefit A variety of events tijok pla during the year lo promote wmmunty diversity and integration for the greater public benefit. Th8 Gurdwara continued to host education visits, ranging from Primary Schools to Universities_ On average the Temple entertains three to four visits in 8 week. The feedback we get is an inspiration lor us all. These are in most cases invaluable for both us and the recipients who use it foi their religious studies. The Guru Nanak Temple held community fun day events which have been open lo everyone in the local community and th8 turnout has extseded expectations. There were regular visits from the NHS and Public Heavth and Wellbeing organisalions who promole health and safety, informing aboul healthy lrfestyles and diets and hold blood donation sessions. A local solicitor attended the Temple to provide free and irnpartial advice on a vaety of 18gal rnatters. GLJrdwara volunt88rs have worked closely with the staff of the local Compton Hospi¢e to support and promote within the oommunity the selfless serwce the Hospice provides to both the terminally ill and their loved ones. The Gurdwara is a founding member and adive participant as well a5 a supporter of the Sikh Council UK, the UK and Europe Sikh Gurdwara's umbrella body who act on behalf of the Sikh faith's supreme authority which is based In Amritsar, India. No political conferences Ore held al the Templ8. Fund raislng for good causes Th8 Gurdwara congr8gation h35 actively supported with both their personal financial donations direct to a number of charities and also with their participation in the following charitable events:_ Sikh Helpline - IA charity which helps and supports vulnerable Sikh and non-sikh individuals). Supported a bike ride by the Sikh Helpline which concludes at the Gurdwara. Children In Need A number of the local Sikh Gurdwaras supported this national charity. A group of dedic8ted Sikhs and non-sikhs undertook fundraising activities loo. for which the Gurdwara congregation provided their peT50nal financial donations. Kh8ls8 Aid The Gurdwara has continued to provide a monthly direot debil donation to the charity which operates on a global scale. The charity is world renowned for their international disaster charity work wherever people have been affected by natural disasters by providing the basic necessities lor human survival. Nursery I school- The Gurdwar8 has leased a building lor use as a Childn'S nursery, operated by the independent body GNG Community Servi$ Ltd. In additiorTr lo running the nursery, GNG Community Services Ltd facilitates six classrooms lor the Khalsa School, where approximately 400 children receive Punjabi language education ea¢h year. As part of the arrangement, these classroom facilities are provided to the Gurdwara free of ¢harge. At the same time, the Gurdwara receives rental income from GNG Community Services Ltd, supporting ils fin8nci81 sustainability.
GURU NANAK SIKH TEMPLE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 3t MA Y 2024 Khalsa Collage - SeNlng the Punjabi community. Guru N8nak Khalsa College, Sedgley, Wolverhampton IGNKCI was started in 1989 by the Management Cotntnitlee of Guru Nanak Sikh Gurdwara. Thank5 to the commitment and dediration of SucsSive Management Gornrnittees over the years, parents and the dedication of the staff, the numbers of pupils and the staff have doubled over thè last ten years. We are very pleased 8nd proud to announ that we now have over 800 pupils. The p8rerits bring their children to the college from as far as a 20 miles radius of our City af Wolverhampton. We have over 37 wall qualified and experienced teaching staff who do not treat teaching al the College as their job, in fact they regard this as an opportunity to seNe their community and work diligently towards keeping the Punjabi language, culture and above all th8 Sikh teachings alive and well for the gen8rations to come. The main strengths of the college are the co-operation of the Managing Committee, Ihe dedication and support ol the parent5. hardworking well qualified staff and of course the commitment of the pupils, whom we ¢811 thé nuggets ol gold and the treasure chèst ol the community. They are the on8s who are preparing themselves today for the challenges of tornorrow in a worfd that is transfomiing our lives. We have a culture of a big extended family in the College. The staff feel that pupils who attend GNKC are the psrt of our family whose every single member is entitled to have complele care and attention for hislher overall future success and welfa. Tests are usually carried out twiee a year, one in December and the final annual exam at the end of June. If a pupil is making good progress ill hislher stLJdies helshe is promoled to the next higher level in consult2tion with the parents and lea¢hers during the year. However the impact ol the pandemic this year meant that no exams were set for pupils, and grades were provi(fed by teachers on the basis of classroorll assessrn8nt. Guru Nanak Khalsa College would endeavour to develop the capability and awareness of its students who will be able to pass ON and promote the values ol Sikhi to the next generalion. The College would lik8 to educate and inspire each of its students to be proud of our identity and spr&ad the fundamental messages of our Gurus 2nd Inspi them to tske higher Education and to be successful in the intemational job market. Inspir8 each and every student io educate themselves professionally to raise the image of their family and the Sikh Nation as a whole in this very challenging worfd of job opportunities. Motivate and help all the Punjabis regardless of their religK>n to be ab18 to speak, read and write Punjabi to ke8p our culture alive and well in the future. Inspire the students to learn Sikh history and have fundamental knowledge of Sikhi to spread the message ol our Guru's and feel proud ol their Sikh identity and heNtagè. Th& current Management Committee 'School Managerf appointed representative has been instrumental in worf(ing with the college Piincipal and staff to Introdu for the first tirne an accredited Sikhi focused Punjabi syllabus from the organisation Sikhi Resources material that was unlike anything known previously and designed by PGCE qualified teachers. The 14Janagement Committee have supported nearfy half a dozen Sikhi camps, this has be8n led by the School Manager who has bgen working in partnership with the RE department of GNKC, sharing responsibilitie5 and camp schedules with a view to increasing the participation of GNKC students within the Gurdwara Sangat. Financial rev5ew The Trustee Committee consider the surplus achieved on its aotivities for the year lo be positive. The Statement of Financial Activities shows a surplus of £316,344 this year Compared to a SLJrplus of £230,460 in the previous year. The income incre8sed by 15.8Q/ this year and the costs for the iunning of the Temple increased by 8.3Q/..
GURU NANAK SIKH TEMPLE TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 ReseNes policy The Charity Trustees have developed a reserves policy that requires a minimurn of six months of expenses to be held as reserves to ensure the Charity could continue in the short term initially if for some re8son its major source of income li.e. donalionsl ased. As the majority of funds come from donations, it is felt that if these donations ceased that a six month period should be long enough to assess and pul right the reasons for donations ceasing or to start looking for additional fundino sources. In addition, the reserves policy requires reserves to be built up to fund the development of The Sikh Heritage Cent at an estimated cost ol approximately £5 million. unstriCted income funds of £10,676,124 includes a revaluation reserve of £1,748,309 al the 31st May 2024. However £7,356,236 01 this balance is tled up in fixed assets. Uncommitted free reserves available lor financing current activities, repres8nted by significant funds held at the bank, therefore arnounted to £3,319,888 which is in line with the policy explained above. Risk assessment The Trustees regularly review the major operational, business and financial risks which the Charity faces. Systems have been e5tsblished to mitigate the significant risks where ne$Sary, or continue to be developed as part ol the review process. The Trustees ensure that all decisions are taken with the advice of experts, whether that is from a Solicitor, Accountant or Bank. Plans for future perfods The Sikh Heritage Cenlre. It's regrettable that this exciting and much needed new build has taken such a long lime to Commen when the plans were approved in Novernber 2015. ACP Architecture Limited, a local fim based in Wolverhampton were awarded the oontract to design and projed manage through to cornpletion the new build projecl. The Management Commiltee can announce that work has now comMend and demolishing lend8rs have been issued by Reade Buray Associates for the Charity. The Charity will continue and increase it5 level of participation in the 'lnterfaith' organisaiion wilh students from local educstion centres visiting to learn about Sikhi. There will also be greater participation with the local community including liaising wilh the nearby cornmunily Centre and buildin9 Partnerships with local schools. An increase in car parking provision is being pursued with the local Councillor with a vW to convert part or 811 of 8n open space along Baggol Street, which is opposite the current Gurdwara Car Park. As per the guidance of the Charity Commission five Singhs have been be llo[niated by the trustees and approved by the congregation. Conclusion The Trustees and Management Committee remain indebted lo all those who perform semess services in the name of the Almighty. Our Ardaas Iprayerl continues to be made lor their blessings. We I(k forward to next year to further capitali5e on the assets ol the Charity and continue to deliver towards the needs of our growing beneficiaries. Structure, governance and management The Guru Nanak Sikh Temple is a charity located in Wolverhampton that serves the local cornrnunity providing both faith and non-faith based servioes and support to over 12,000 beneficiaries. All asp8cts of the Guidwaia operations and management are pmISed on the foundations of Sikh teachings and principles. The Guru Nanak Sikh Temple Is dedicated to practising and promoting the Sikh religion in the name of the living eternal Sikh Guru, Sri Guru Granth Sahib Ji which is the embodirnent of the Ten Sikh Gurus. Goveming document The charity is an unincorporated organisation governed by its constitution adopted on 25th May 1969.
GURU NANAK SIKH TEMPLE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 Trustees The Charity is govemed by four main Trustees, who oversee ils complignoe. Addititrnally, the Gurdwara is supported by a management committ88 consisting of twenty-five members. Mr Gurmukh Singh Mr Sanlokh Singh Mr Malkit Singh Mr Pi8ra Singh Structure and organlsallon Since the inception of the conslitution, the twenty-five-rnemb8r Management Committee has been appoinl8d every Iwo years through an established process. This committee is the officially recognised governing body by both the Charity Commission and the Gurdwara Constitution. It holds full accountability for overseeing the Charity's day-t day operations as well as its strategic direction. Trustee induction and training Advice lor Trustees published by the Charity Commission is given lo new Tnjstees and new guidance is notified and made available at Committee meeting5. The trustees, report was approved by the Board ofTrusteÈs. Gumiukh Singh Trustee 12 S8pt8tnber 2025
GURU NANAK SIKH TEMPLE STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MA Y 2024 The Trustees are responsible for preparing the Trustees, Report and the financial s18tements in accordance with applicable law and United Kingdom Ac£ountillg Standards (United Kingdom Generally Acc8Pted Accounting Pr8Cticel. The law applicable to charities in England and Wales requires the Trustees to pr8pare financial statements for each financial year which give a true and fair view of the state ol affairs of the charity and ol the incoming resources and application of resoUrS ol the charity for that year. In preparing these financial statements, the Trustees are required lo-. select suitable acwunting policies and thèn apply them consistently., observe the methods and principles in th8 Charities SORP., make judgements and estimates that are reasonable and ptudent., state whether applicable accounting standards have be8n followed. subject to any material departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concern basis unless it is inappiopriate to presume that the charity will continue in operation. The Trustees are SPonsible for keeping sufficient accounting reeords that disclose with reason8b18 aeeuracy at any time the financial position of the charity and enable them lo énsure that the financial statements comply with the Charities Act 2011. the Charity (Accounts and Reportsl Regulations 2008 and the provisions ol the trust deed. They are also responsible for safeguarding the assets ol the charity and hen for taking rèasonable steps lor Ihe pravenlion and detection of fraud and other irregularities.
GURU NANAK SIKH TEMPLE INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF GURU NANAK SIKH TEMPLE Opinion We h8ve audited the financial slalements of Guru Nanak Sikh Temple {the 'charity'l for the y8ar ended 31 May 2024 which compris8 the statement of financial activities, the balance sheet, the statement of sh flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has b88n applied in their preparation is applicable law and United Kingdom Accounting Standards, includino Finaneial Reporting Standard 102 The Finanoal Reporting St8nd8rd applicabls in the UK and Republic of Ireland (United Kingdom Generally Accepted AccoLJnling Practice). In our opinion, the financial statements.. give 8 true and fair view of the stat6 of the charills affairs as at 31 May 2024 and of its incorning resources and application of resources. for the year then ended,, have been properly prepared in accordance with United Kingdom Generally Accepted Aocounting Practice," and have been prepared in accordance with the Charities Act 2011. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the auclit of Ihe finèncial stè16ments section of our report. We are independent of th8 charity in accordance with the ethical requirernentS that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we h8ve fulfilled OLJr other ethical responsibilities in accordance with these requir8ments. W6 believe that the adi1 evidenc8 we have obtainèd is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to golng concern In auditing the financial statements. we have ooncluded that the trustees, use of the going concem basis of accounting in the pparatIon of the financial statem8nts is appropriat&. Based on th8 work we have performed, we have not identified any material uncert8intios relating to events or conditions that. individually or collectively, rnay cast significant doubt on the charity's ability lo continue as a going con¢em for a period of at least twelve months from when the financial statements are authorised for issue. Our ospon5ibilities and the responsibilities of the Trustees with resp8Ct to going concern are described in the relevant sections of this report. Other information The other information comprises the information induded in the annual rep)rt other than the financial slatetments and our auditor's report Ihereon. The Trustees are responsible for thè other information contained within the annual report. Our opinion on the financial statements does not COV8r the other information 2nd we do not express any form ol assurance conclusion Ihereon. Our responsibilily is lo read the other information and, in doing so, consider whether the other infortnation is tnaterially inconsistent with the financial statements or our knowledge obtained in the course of the audil, or Oth8lSe appears to be materially misstated. 11 we identify such material inconsislencie5 or apparent material misstatements. we are required to detertnine whether this gives rise to a material misstatetnent in the financia5 statements themselves. If. based on th8 work we have performed, we conclude that there is material misstatement of this other information. we ar8 r8quir8d to report that fact. W8 have nothing io report in this regard. Matters on which we are required to report by exceptlon We have nothing to report In respect ol the following matters in relation lo which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion.. the inforrnation given in the financial statements is inconsistent in any malerial spect with the trustees. report.. o sufficient accounting records have not been kepl,. or the financial statements are not in agreernent with the accounting récords,. or we have not received all the information and explanations we require lor our audit.
GURU NANAK SIKH TEMPLE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GURU NANAK SIKH TEMPLE Responsibilities of Trustees As explained more fully in the statement of trustees, responsibilities, the Trustees are responsible for Ihe preparation of the financi81 statements and for being satisfied th8t they give a true and fair view, and lor such ntemal control as the Trustees deterwine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due lo fraud or error. In preparing the finanrial statements. the Trustees are responsible for assessing the charity's ability lo continue as a going Con, disclosing, as applicable. matters related lo going concern and using the going coneern basis ol accounting unless the Trustees eiiher intend to cease operations. or have no realistic altemative but to do so. Auditorfs responslbllitSes for the audit of the financial statements We have been appointed as audiior under seotion 144 of the Chgriti8s Act 2011 and rèport in accordance with the Act and relevant regulations made or having effect Ihereunder. Our objectives are lo obtain reasonable assurance about whether the financial staternents as a whole a free from material rnisstatement, whether due to fraud or error, and to issue an auditor's report that includ8s our opinion. Reasonable assurance is a high level of assurance bul is not a gu3ranlee that an audit conducted in accordance with ISAS IUKI will always delect a material misstatement when it exists. Misslalemenls can arise from fraud or error and are considered material If, individually or in the aggregate, they could asonablY be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design proc8dures in line with our responsibilities, OLJtlined above, to detect material misslalements in respe¢t ol irreglrities. including fraLJd. The extent to whlch our procedures are Capable of detecting irregularities. induding fraud, is detailed below. Frorn the preliminary of the audtt. we ensure our understanding of the entity is up to date. This includes, bul is not limited to, current knowledge of their activities. the business and control environménts, and thèir Compliance wilh the applicable legal and regulatory frameworks. This information supports our risk identification and the subsequent design of audit produ$ to mitigate those risks., ensuring that the audit eviden obtsined is sufficienl 8nd appropriat8 to support our oplnlon. In response to the risks identified. spe¢ifi¢ lo this entity. we designed procedures which induded. bLJt were not limited lo.. Enqulry of management and those charged wth governance around actual and potential litigation and claims., Reviewng minutes of meetings of those charged wth govemanee, if available,, Reviewing financial statement disclosures and testiNg lo supporting documentation to assess compliance with applicable laws and regulations., Auditing the risk of management override of controls, including through testing joumal entries and oth$r adjuslments for appropriateness, and evaluating the business rationale lor significant transactions outsid8 the normal course of business. A further description of our responsibilities is available on the Financial Reporting Council's website 8t.. https."Il wbvw.frc.org.uklauditorsresptsnsibilities. This description forms part of our audilorfs report. Other matters Your attention is drawn to the fact that the ch8rity has pr8pared financial stat8ments in aceoidance with "Accounting and Rgporting by Charities.. Slalernent of Recommended Pr8Ctice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republio of Ireland IFRS 1021" las amended) in pieference to the Accounting and Reporting by Charities.. Slalemenl ol Re¢ornrnended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. This has been done in order for the financial statements to provide a true and fair view in accordan with Current Generally Accepted Accounting Pr8¢lice. 10-
GURU NANAK SIKH TEMPLE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GURU NANAK SIKH TEMPLE Use of our report This report is mad8 solely to the charitls trustees, as a bocly, in accordance wlh Part 4 of the Charities IAccounts and Reports) Regulations 2008. Our audit work has been undertaken so that we n)ighl state to the charity's trustees those matters we are required to state to them an 8uditor's report and for no other purpose. To the full8st Extent permltted by law, we do not a¢p1 or assume responsibility to anyone other than the charity and the charity's trustees a5 a body, for our audit work, for this report, or for the opinions we have fomed. Andrew Wllllams FCCA (Senior Statutory Auditor) for and on behalf of BK Plus Audit Limited 12 September 2025 Suite GA, St, George's House Lever Street Wolverhampton England WV2 1EZ BK Plus Audit Limited is eligible for appointment as auditor ol the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
GURU NANAK SIKH TEMPLE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MA Y 2024 Unrestricted funds 2024 Unrestricted funds 2023 Notes Incorne and endowments from.. Donations Other Income 1,030.064 888,163 1.068 Totsl income 1,030,064 889,231 Expènditurè on.. Charitable activities 713,720 658,771 Totsl expenditure 713,720 658.771 Net incorna and movement in funds 316,344 230,46Q Reconciliation of funds: Fund ba18nces at 1 June 2023 10,359,780 10,129,320 Fund balances at 31 May 2024 10,676,124 10,359,780 The statement of financial 8Ctivities includes all gains and losses recognised in the year. All income and expenditure deve from continuing 8¢tivities. The notes on pages 15 to 23 fortn an integral part ol these financial st8tements_ 12
GURU NANAK SIKH TEMPLE BALANCE SHEET AS AT 31 MAY2024 2024 2023 Notes Fixed assets Tangible 2ssets Investm8nt propgrty 10 11 5,529.717 1,826,519 5,442,610 1,826,519 7,356,236 7,269,129 Current assets Debtors Cash at bank and in hand 13 15,389 3,359,719 9,939 3,139,T78 3.375,108 3,149.717 Creditors: amounts falllng due wlthln one year 14 155,2201 159,0661 Net current assets 3,319.888 3.090,651 Totsl assèts less current liabilities 10,676,124 10.359,780 Net assets excludlng pensSon Ilablllly 10,676.124 10,359,780 The funds of the charity Unrestncted funds 10,676,124 10,359,780 10,676,124 10,359,780 The notes on page 15 10 23 form an integral part ol these financial statements. The financial statements were approved by the Trustees on 12 September 2025 Mr Gurmukh Singh Trustee 13
GURU NANAK SIKH TEMPLE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MA Y 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations 17 319,223 280,285 Investing activities Purchase of tangible fixed assets Proceeds from disposal of tangible fixed ssets Purchase of investment property 199,2821 142,4811 6,259 1531,5191 11 Net cash used in investing activities 199,2821 1567.7411 Nèt eash us•d In financlng actlvitles Net increaselldecreasel in cash and cash equlvalents 219,941 1287,4561 Cash and cash equivalents at beglnning of year 3,139.778 3,427,234 Cash and cash equivalent$ at end of year 3,359.719 3,139.778 14-
GURU NANAK SIKH TEMPLE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MA Y 2024 Accounting policies Charlty Infomiatlon The Guru Nanak Sikh Ternple Is a charity located in Wolverhampton that serv9S the local community providing both faith and non-faith based serviogs and support lo over 12,000 beneficiaries. All aspects of the Gurdwara operations and management are premised on the foundations of Sikh teachings and principles. 1.1 Accounting convention The financial statem8nts have been prepared in aordanCe with the charity's governing document. the Charities Act 2011, FRS 102 'The Financi21 Reporting Slandard applicabl8 in the UK and Republic of Ire1gnd' I'FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable to charilies preparing their 2CCOUnts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021" leffectlve 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements have departed frotm the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved followng the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recornmended Practice which is referred to in the Regulations but which has sints been withdrawn. The financial statements are prepared in sterflng, which is the functional currency of the charily. Monetary amounts in these financial statements are rounded to the nearest £. The finanoial statements have been prepared under the historical cost convention, modified to includ8 the revaluation of freehold prop8rties and to include inveslrnent properbes and certain financial instruments at fair Value. The principal accounting policies adopted Bre set out below. 1.2 Going concern At th8 time of approving the financial statements, the Trustee5 have a reasonable expectation that the charity has ad8quate resources to continue in operational existence for the foreseeable lulure. The charity remains in a net asset positlon 8nd holds cash reserves lo more than suffioi8ntly cover cashflow throughoul th8 next 12 months even if unexpect9d ev8nts occur. Given this the Trustees continue to adopt the current concern basis of accounting and preparing these financial statements 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. R85tricted fund5 are subject to specific conditions by donors or grantors as to how Ih8y rnay be used. The purposes and uses ol the restricted funds are set out in th8 notes to the financial statements. Endowrnent funds aFe subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Incom8 Ineome is recognised when the charity is legally entitled to it after any performance conditions have been mel, the 8tnounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised onee the charity has been notified of the donation, unless performance conditions require deferral of the amount. Incorne tax recoverable in relation lo donations recelved under Gift Aid or d88ds of covenant is recognised al the time of the donation. 15-
GURU NANAK SIKH TEMPLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 Aecountlng pollcles Icontinuedl Lggacies are re(x)gnisèd on reIpt or otherwise if the charity has been notified of an Impending distribution, the arnount is known, and receipt is expected. If the amount is not known, the 1gg3w is treated as a contingent asset. 1.5 Expenditure Expenditure is recognised On there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economie benefits will be required in settlement. and the amounl of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each aotiwty are made up of the total of d1cl costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute lo more than ome activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources Central staff costs are allocated on the basis of lime spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible fixèd assèls Tangible fixed assets are initially measur8d at cost 8nd subsequently measured at cost or valuation, net ol depreciation and any impaiment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful live5 on the following bases.. Frèehold land and buildings FixtLJres and fittings Not depreciated 10Vo straight line basls The gain or loss arising on the disposal of an asset is deterrnined as the difference between the sale proceods and the carying value ol the asset, and is recognised in the statemènt of financial activities. 1.7 Investment property Investrnent property, which is property held to earn rentals andlor for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequendy it is measured 8t fair value at the reporting end date. The surplus or deficit on revaluation 15 recognised in profil or loss. 1.8 Impairment of fixed assets Al each reporting end dale, the eharity reviews the carrying amounts of its tangible assets to determine whelher there is any indication that those assets have suffered an imp2irment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impaiiment loss lif any). 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with b8nk5. Other short-temi liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts a shown wlhin borrowings in Current liabilities. 16
GURU NANAK SIKH TEMPLE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MA Y 2024 Accounting policies Icontlnuedl 1.10 Financial Instruments The charity has elected to apply the provisions of SectioN 11 'Basie Financial Instwments. and Section 12 'Other Financial Instruments Issués. ol FRS 102 to all of its financial instruments. Financial illstruments are recognised in the charity's balance sheet when th8 charity becomes party to th8 contractual provisions ol the instrument. Financial assels and li8bilities are offset, rith the net amounts presented in Ihe f1nan¢ial slaternents, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to aliSe the asset and settle the liability simultaneously. Basic finan¢ial assefs Basic financial assets, which include debtors and cash and bank b818nces. are initially measured at transaction price including transaction costs and are subsequently carried at amortised wsl using the effective Interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future reip1S discounted 8t a Tnarket rate of interest. Financial assets ¢18Ss[e as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised 8t transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is me85urèd at the present valLJe of the future payménts discounted at a market rat8 of interest. Financial liabilities classified as payable within one year are not amortiS8d. Debt instruments are subsequently Carried 8t amortised cost, using the effective interest rate method. Trade creditors 8re obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. ATllOUnts payable are ¢lassified as current liabilities if payment is due within one year or less. 11 nol, they are presented as non-currenl li8bilities. Trade creditors are recogllised inltially al transaction price and subsequently me2sured at amortised cost using the effective interest method. Derecognilion of financial liabilllles Finana31 liabilities are derecognised when the ¢h8rity's contractual obligations 8xpirè or are discharged or cancelled. 1.11 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's servi¢¢s are received. Temiination benefits are recognised immediately as an expense when the ch8rity is dgmonstrably committed to terminate the employrn8nt of an employee or to provid8 termination benefits. 1.12 Retirement beneflts Payments to defined contribution ietirement benefit schemes are charged as an expense as they fall due.
GURU NANAK SIKH TEMPLE NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 MA Y 2024 Key accounting estimatès and judgements In the application of the charity's accounting policies, the Trustees are required to make judgetnents, estimates 8nd assumptions about the carying amount of assets 2nd liabilities that are not readily apparent from other sources. The estimates and associ81ed assurnplions a based on historical experience and oth8r faetors that are considered to be relevant. Actual results may differ from these estirnates. The estimates and underlying assumptions are vieWed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and futurè periods. Key sources of estimation uncertainty The estimates and assumptions which have a significant risk of causing a rnaterial adjustrnent to the carrying arnounl of 8ssets and li8bilitiès are as follows. Property valuations The determination of lair value for investment properties requir8S th8 us& of professional judgement and estimation by external valuers. Key assumptions include refflt market transactions, rental income, yield rates, 0up8cY leve15. and future economic conditions. Significant changes in these a5SUmPtions could materially affect the carrying valu8 of investment properties. Incom& from donatlons and legacles Unrestri¢ted funds 2024 Unrèstrlcted funds 2023 Donation boxes- Golak Donations Gift Aid Government grant income Religious literature In8 Investrllent incorne 806,806 8,398 85,905 11,202 1,632 116,121 706,820 14,673 73.299 13.957 1,227 78,187 1,030,064 888,163 Included wthin investment income is bank interest received of £44,40112023.. £20,217). Othèr Income Unrestricted Unrestricted funds funds 2024 2023 Net gain on disposal of tangible fixed assets 1,068 18
GURU NANAK SIKH TEMPLE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MAY 2024 Expenditure on charitablè actlvlties Expenditure Expenditure 2024 2023 Direct costs Siaff costs Dgpreciation Religious literature Premises expenses Donations Repairs and rnaintenance Insurance Cleaning, refuse and pest control Motor vehide expenses Legal & professional fees Auditor's remuneration L2ng8r (Food Servi$) Office expenses Bank charges Advertising So¢ial activity & function expenses other charitable expenditure 217,078 12,175 3,056 211,346 11,175 39,323 15,433 3,369 2,690 5,193 6,300 136,963 18,831 8.211 1,200 16,364 5,013 206,995 6,966 2,484 165,239 5,200 46,839 15.002 4,534 4,501 13,733 6,000 101,152 33,047 17,518 3,321 14,397 11.843 713,720 658,771 Analysis by fund Unrestricted funds 713,720 658,771 Net movement in funds 2024 2023 The net movement in funds is stated after chargingllueditingl". Depreciation of owned tangible fixed assat5 Lossllprofitl on disposal of tangible fixed assets 12,175 6,966 11,0681 Trustees None of the Trustees lor any persons connected with thetnl received any remuneration or benefits trom the Charity during the year. 19-
GURU NANAK SIKH TEMPLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 Employees The 8verage number of full time equivalent employ88s during the year was.. 2024 Number 2023 Number Granthis IPriestsl Educational staff 38 37 Total 45 44 Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 205,918 7,310 3,850 197,489 7,311 2.215 217,078 206,995 There were no 8mployees whose annual retmuneration was more than £60,000. Taxation The charity is exernpt from taxation on its activities because all its income is applied for ch8ritable purposes. 10 Tangiblé fixèd assets Freehold land Fixtures and and buildings fittings Totsl Cost At 1 June 2023 Additions 5,385,208 90,458 5,475,666 99,282 99,282 At 31 May 2024 5,385,208 189,740 5,574,948 Depreciation and Impairment At 1 June 2023 Depreciation charged in the year 33,056 12,175 33,056 12,175 At 31 May 2024 45,231 45,231 Carrying amount At 31 May 2024 5,385,208 144,509 5,529,717 At 31 May 2023 5,385,208 57,402 5,442,610 -20-
GURU NANAK SIKH TEMPLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 11 Invastment prop8rty 2024 Fair value At 1 June 2023 and 31 May 2024 1,826,519 The investment property was revalued by independent Chartered Surveyors, Towler Shaw Roberts LLP, in September 2019, who are not connected with the ¢h8rity. The valuation was made on an open market value basis by reference lo market evidence of transaction prices for similar praperties. The Trustees have been unable to revalue in the intervening ri0d and have perfomed a desktop review on recent Sales lo ensure they ar8 Still materially ¢orrecUy valued. 12 Revaluations The carrying amount of a11 revalued freehold land and buildings 8nd investment properties under the cost model would have been £3.719.24512023.' £3,719,245). 13 Debtors 2024 2023 Amounts falling duè wlthin one year= Prepayrments 15,389 9,939 14 Credltors.. amounts falling due withln one year 2024 2023 Other taxation and social security Trade Creditors Other creditors Accruals 2,241 12,441 5,203 35,335 3,628 12,753 4,041 38,644 55,220 59.066 15 Retirement benefit schemes 2024 2023 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 3,850 2,215 The charrty operates 8 defined contribution pension scheme for all qualifying employees. The assets of the schem8 are held separately from those of the charity in an independently administered fund. 21
GURU NANAK SIKH TEMPLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 16 Unrestricted funds The unrestricted funds ol the charity Comprise the unexpended balances of donations and grants which gre not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the ttustees for specific purposes. At 1 Junè 2023 Incomlng resources Resources expended At 31 May 2024 General funds 10,359.780 1,030,064 1713,7201 10,676,124 Previous year.. At 1 June 2022 In¢oming resources Resource5 expended At 31 May 2023 Revaluation reserve General funds 1,748,309 8,381,011 1,748,309 8,611,471 889,231 {658,7711 10.129,320 889,231 1658,7711 10,359,780 17 Cash generated from operations 2024 2023 Surplus foi the year 316,344 230,460 Adjustments for.. Gain on disposal of tangible fixed assets Depr&ci8tion and impairment of tangible fixed assets {1,0681 6,966 12,175 Movements In worklng capital.. Ilncreaselldecrease in debtors IDecreasellincrease in creditors 15,4501 13,8461 43,081 846 Cash generated from operations 319,223 280.285 18 Analysis of changes in net funds The charity had no m8teYi81 debt dunng the year. -22-