| Pages | |||
|---|---|---|---|
| Trustees' | annual report |
1to7 | |
| Independent auditor's |
report to the members | 8to 11 | |
| Statement | offinancial | activities | 12 |
| Statement | offinancial | position | 13 |
| Statement | ofcash flows | 14 | |
| Notes to the financial | statements | 15to 21 |
| Singh Sabha London East | Singh Sabha London East | Singh Sabha London East | Singh Sabha London East | |||
|---|---|---|---|---|---|---|
| Trustees' Annual | Report (contlnuedl | |||||
| Year ended 31 | March 2023 | |||||
| Reference and administrative | details | |||||
| Registered | charity | name | Singh Sabha London | East | ||
| Charity registration | number | 262277 | ||||
| Principal office | 100North Street | |||||
| Barking | ||||||
| Essex IG11 8JD | ||||||
| The trustees | ||||||
| Satnam Singh (President) | ||||||
| Raghbir Singh Bhangal | (Vice President) | |||||
| Gurdip Singh Hundal | (Vice President) | |||||
| Jagdish Singh Jutle | (Treasurer) | |||||
| Auditor | Inger &Company | |||||
| Accountants &statutory |
auditor | |||||
| 7Redbridge Lane |
East | |||||
| Redbridge, Ilford |
||||||
| Essex IG4 5ET | ||||||
| Bankers | HSBC Bank PLC | |||||
| 23 Ripple Road | ||||||
| Barking | ||||||
| Essex IG11 7NW | ||||||
| National Westminster |
||||||
| 27 High Road | ||||||
| Chadwell Heath |
||||||
| Romford | ||||||
| Essex RM6 6QD | ||||||
| Solicitors | DKLM LLP | |||||
| 3Cranwood Street |
||||||
| London | ||||||
| EC1V9PE |
| 2023 | 2023 | 2022 | |||
|---|---|---|---|---|---|
| Unrestricted | |||||
| funds | Total funds | Total funds | |||
| Note | |||||
| Income and endowments Donations and legacies Charitable activities Investment income Other income |
4 5 6 7 |
1,234,024 568,215 276 2,999 |
1,234,024 568,215 276 2,999 |
1,554,370 505,033 73 |
|
| Total income | 1,805,514 | 1,885,514 | 2,059,476 | ||
| Expenditure | |||||
| Expenditure on raising funds: Costs ofraising donations and legacies Expenditure on charitable activities |
'8 9,10 |
784,075 580,253 |
784,075 580,253 |
673,265 409,542 |
|
| Total expenditure | 1,384,328 | 1,384,328 | 1,082,807 | ||
| Net income and net movement | in funds | 441,186 | 441,186 | 976,669 | |
| Reconciliation offunds Total funds brought forward |
10,871,915 | 10,871,815 | 9,895,246 | ||
| Total funds carried forward | 11,313,101 | 11,313,101 | 10,871,915 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Note | E | ||||
| Fixed assets Tangible fixed assets |
17 | 16,305,546 | 16,484,959 | ||
| Current assets | |||||
| Debtors | 18 | ?4,632 | 74,649 | ||
| Cash at bank and in | hand | 561,457 | 620,581 | ||
| 636,089 | 695,230 | ||||
| Creditors: amounts | falling due within one year | 19 | 250,813 | 565,385 | |
| Net current assets | 385,276 | 129,845 | |||
| Total assets less current liabilities | 16,690,822 | 16,614,804 | |||
| Creditors: amounts one year |
falling due after more than | 20 | 5,377,721 | 5,742,889 | |
| Net assets | 11,313,101 | 10,871,915 | |||
| Funds ofthe charity Unrestricted funds |
11,313,101 | 10,871,915 | |||
| Total charity funds | 21 | 11,313,181 | 10,871,815 |
| Year en | ded 31 March 202 | 3 | |
|---|---|---|---|
| 2023 | 2022 | ||
| E | |||
| Cash flows from operating activities Net income |
441,186 | 976,669 | |
| Adjustments for: Depreciation oftangible fixed assets Other interest receivable and similar income Interest payable and similar charges Gains on disposal oftangible fixed assets Accrued income |
374,181 (276) 261,671 (2,'999) (234,462) |
371,843 (73) 182,133 (36,651) |
|
| Changes /n: Trade and other debtors |
17 | 5,779 | |
| Trade and other creditors | (110) | (180,414) | |
| Cash generated from operations |
839,208 | 1,319,286 | |
| Interest paid Interest received |
(261,671) 276 |
(182,133) 73 |
|
| Net cash from operating activities |
577,813 | 1,137,226 | |
| Cash flows from Investing activities Purchase oftangible assets Proceeds from sale oftangible assets |
(194,769) 3,000 |
(892,726) | |
| Net cash used in investing activities |
(191,769) | (892,726) | |
| Cash flows from financin activities Proceeds from borrowings Repayments of borrowings |
(445,168) | 1,540,000 (1,474,861) |
|
| Net cash (used in)/from financing activities |
(445,168) | 65,139 | |
| Net (decrease)/increase in cash and cash Cash and cash equivalents at beginning |
equivalents ofyear |
(59,124) 620,581 |
309,639 310,942 |
| Cash and cash equivalents at end ofyear |
561,457 | 620,581 |
| 4. | Donations | and legacie | s | ||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2023 | Funds | 2022 | ||||
| Donations | |||||||
| Donations Education Donations |
and offerings income - Building |
967,913 3,605 262,506 |
967,913 3,605 262,506 |
976,037 4,604 573,729 |
976,037 4,604 573,729 |
||
| 1,234,024 | 1,234,024 | 1,554,370 | 1,554,370 | ||||
| 5. | Charitable | activities | |||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2023 | Funds | 2022 | ||||
| R | F | ||||||
| Kitchen langar | 568,215 | 566,215 | 505,033 | 505,033 | |||
| 6. | Investment | Income | |||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2023 | Funds | 2022 | ||||
| F | P | F | |||||
| Bank interest receivable | 276, | 276 | 73 | 73 | |||
| 7. | Other Income | ||||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2023 | Funds | 2022 | ||||
| R | P | ||||||
| Gain on disposal oftangible fixed assets held for charity's own use |
2,999 | 2,999 |
| Costs ofraising donations | and legacie | s | |||
|---|---|---|---|---|---|
| . | Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2023 | Funds | 2022 | ||
| F | F | ||||
| Staff costs Premises Donations Support costs Insurance Sundries Communications Bank charges |
' 12,410 495,334 42,351 188,206 20,816 1,223 8,119 15,614 |
12,410 495,334 42,351 188,206 20,818 1 223 8,119 15,614 |
11,952 434,858 30,465 147,249 19,032 3,658 8,573 17,478 |
11,952 434,858 30,465 147,249 19,032 3,658 8,573 17,478 |
|
| 784,075 | 784,075 | 673,265 | 673,265 |
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | ||
| F | F | ||||
| Interest KItchen Support |
on loans Langar and Sports costs |
' 261,671 307,322 11,260 |
261,671 307,322 11,260 |
182,133 209,769 17,640 |
182,133 209,769 17,640 |
| 580,253 | 580,253 | 409,542 | 409,542 |
| Activities | ||||||
|---|---|---|---|---|---|---|
| undertaken | Total funds | Total fund | ||||
| directly | Support | costs | 2023 | 2022 | ||
| F | R | F | ||||
| Interest on loans Kitchen Langar and Sports Governance costs |
261,671 307,322 |
' | 11,260 | 261,671 307,322 11,260 |
182,133 209,769 17,640 |
|
| 568,993 | 11,260 | 580,253 | 409,542 |
| 11. | Net Income | ||
|---|---|---|---|
| Net income is stated after charging/(crediting): | 2023 | 2022 | |
| F | |||
| Depredation oftangible fixed assets Gains on disposal oftangible fixed assets |
374,181 (2,999) |
371,843 | |
| 12. | Auditors remuneration |
||
| 2023 | 2022 | ||
| F | |||
| Fees payable for the audit ofthe financial statements | 9,480 | 9,240 |
| Tangible fixed assets | ||||
|---|---|---|---|---|
| Freehold | Fixtures and | Motor | ||
| property P |
fittings E |
vehicles | Total R |
|
| Cost At 1 April 2022 Additions Disposals |
18,048,401 176,879 |
, 157,720 17,890 |
35,835 (19,735) |
18,241,956 194,769 (19,735) |
| At 31 March 2023 | 18,225,280 | 175,610 | 16,100 | 18,416,990 |
| Depreciation At 1 April 2022 Charge for the year Disposals |
1,605,427 354,506 |
115,737 19,675 |
35,833 (19,734) |
1,756,997 374,181 (19,'734) |
| At 31March 2023 | 'I,959,933 | 135,412 | 16,099 | 2,111,444 |
| Carrying amount At 31March 2023 |
16,265,347 | 40,198 | 1 | 16,305,546 |
| At 31 March 2022 | 16,442,974 | 41,983 | 2 | 16,484,959 |
| Debtors | |||
|---|---|---|---|
| 2023 | 2022 f |
||
| Other debtors | 74,632 | 74,649 | |
| Creditors: amounts | falling due within one year | ||
| 2023 | 2022 | ||
| Bank loans and overdrafts Accruals and deferred income Social security and other taxes Other creditors |
196,000 54,795 18 |
276,000 289,257 94 34 |
|
| 250,813 | 565,385 |
| 2023 | 2022 |
|---|---|
| R | |
| 5,377,721 | 5,742,889 |
| At | At | |||||
|---|---|---|---|---|---|---|
| 1 April 2022 | Income E |
Expenditure | Transfers F |
31March 2023 f |
||
| General | funds | 10,871,915 | 1,805,514 | (1,364,328) | 11,313,101 | |
| At | At | |||||
| General | funds | 1 April 2021 E 9,884,047 |
Income 2,059,476 |
Expenditure V,082,807) |
Transfers 11,199 |
31 March 2022 F 10,871,915 |
| Analysis ofnet asse | ts between funds | ||
|---|---|---|---|
| Unrestricted | Total Funds | ||
| Funds | 2023 | ||
| F | R | ||
| Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year |
16,305,546 636,089 (250,813) (5 377721) |
16,305,546 636,089 (250,813) (5,377,721) |
|
| Net assets | 11,313,101 | 11,313,101 | |
| Unrestricted | Total Funds | ||
| Funds | 2022 | ||
| F | |||
| Tangible fixed assets Current assets Creditors less than 1 Creditors greater than |
year 1 year |
16,484,959 695,230 (565,385) (5,742,889) |
16,484,959 695,230 (565,385) (5,742,889) |
| Net assets | 10,871,915 | 10,871,915 |
| Analy | sis ofchanges ln net debt |
|||
|---|---|---|---|---|
| At | ||||
| At 1 Apr 2022 | Cash flows | 31 Nlar 2023 | ||
| R | ||||
| Cash Debt Debt |
at bank and in hand due within one year due after one year |
620,581 (276,000) (5,742,889) |
(59,124) 80,000 365,168 |
561,457 (196,000) (5,377,721) |
| (5,398,308) | 388,044 | (5,012,284) |