CHARITY REGISTRATION NUM8ER.' 262277 Singh Sabha London East Financial Statements 31 March 2024 INGER & COMPANY Accountants& statutory auditor 7 Redbridge Lane East Redbridge, Ilford Essex IG4 SET Singh Sabha London East Financial Statements Year ended 31 March 2024 Pages Trustees, annual report 1to7 Independent auditorfs report to the members 8t011 Statement of financial activities 12 Statement of financial posilion 13 Slatemenl of cash flows 14 Noles to the financial slatements 15to22 Singh Sabha London East Trustees. Annual Report Year ended 31 March 2024 The trustees present their report and the financial statements of the charity for the year ended 31 March 2024. Chair's report The Iruslees who served the charity during this financial period were as follows.. Trustees and Executives Salnam Singh IPresidenll Raghbir Singh Bhangal Iv1￿ President) Gurdip Singh Hundal Ivice President) Jagdish Singh Julle ITreasurerl Other Trustees Naranjan Singh Chahal (General Secretary} Rashpaul Singh Pawar Rajbir Sinyh Sahota Pradeep Singh Gurdish Singh Sall Charanjil Singh Bhalia Gurdial Singh Badala Daljit Singh M8ndeep Singh Binning Gurvinder Kaur Inderjil Kaur Bhalia Dr Jaswanl Singh Jaswanl Singh Jatinder Singh Bassan Kuldeep Singh Chhinder Singh Gill Gurpril Singh Tool Raghbir Singh Bancil Jaswinder Singh Karnail Singh Narwal Singh Sabha London East Trustees, Annual Report(¢ontinuedl Year ended 31 March 2024 Reference and admlni$trative details Registered charity nam8 Singh Sabha London East Charity régistration number 262277 Principal office 100 North Street Bartlizing that everyone is welcome, regardless of slalus, o¢¢upalion. gender, religion, or wealth. Sikhs believe in the equality of all people. Divan Hall Isangatl.. The main prayer hall in a Sikh gurdwara is called the divan hall. Here, the cori9r￿a￿lon 18aiioatl gathers lo Kvorsl)Ip Waheguru, the one God. People sil on the flooF, e￿phasI21ng humility and eqiialily. Guru Granlh Sahib.. The Guru Granlli Sahib, the most important Sikh VIO￿ book, resides in the divan hall dLJring the day. It contains songs, prayers, hymns from Sikh Gurus, and teachings from other faiths. SikhvLi I￿al il as a liwng Guru. Sach Khand". This room is where the Guru Granth Sahib is placed overnight. 11 represenls an individual's union with God. Langar (Free Kilchenl.. After services, volunteers serve V￿￿tarIan meals in the langar. This act of Sewa l¢harityl provides food lo anyone who wishes lo eat there, reinforcing community and selflessness. Symbolic Elements.. The palki sahib houses the Guru Granlh Sahib, and the Nishan Sahib (Sikh flagl stands outside. The Guru Granlh Sahib always sils higher than the congregation, symholizing respect and devotion. Amrit Sanchar the Sikh baptism and iniliation ￿remonY lakes place in a secluded part of the guTdwara. New iniliates join the worshipers in the gur(h￿ara where services are hekl. FLEnd raising This Charity raises funds from the public bul has not aulhorised any professional or commercial fundraiser. This ensures protection of vulnerable people. Ex Homebase slto A legally binding document, known as "Agreement lo Lease" was signed off on 7th December 2023. Salnam Singh and Jon Spring were the signatories for Singh Sabha London East and Hadley Goodmayes LLP, respectively. This document has SeCu￿d a 250 Sq m plot ol land for Singh Sabha London East: adjoining Seven Kings Gurdwara, for a 250 years lease. The plot will be handed over lo the Gurdwara upon completion of development and Le886 agreement within the next five years when we exTecise our right. Sèvankings Gurdwara Kitchen etc Post completion of the refurbishment, the main kitchen became was brought into Servi￿ on 11th April 2024. The overall cost of this project was around £130.000. Gents and Ladies toilets was completed. The Tefutbishmenl cost was around £30000. HSBC loan A lump sum payment of £250.000 was made on 30 January 2024. A further £180,QOO lump sum payment was made on 10 May 2024, This will reduce the interest paid on the loan still due lo HSBC. Refundable Thames Water Security Bond Singh Sabha London East Trustees. Annual Report (coJ)ilnued) Year ended 31 March 2024 As per legal agreement, £56,000180%1 was refunded during the year. The remainder £14,000,1200/0l will be paid after one year maintenance period, around August 2024. E Golaks The ¢ashless Golak pilot bec8me operational in September 2023. One machine per sile was installed at Barking & Seven Kings Gurdwara respectively also, in addition812 extra conlaclless machinè are in operation. Volunteers The Iruslees would like lo convey their gratitude to all volijnleers and donors for their continued C￿ntrIbutIOns, financial or otherwise. particularly in the kil¢hen which have helped the smooth running of both Gurdwaras. Financial review The trustees are pleaseL4 lo report that the net decrease in funds for the year was £38,987 12023 £441,186 increase) taking the accumulated funds lo £11,276,1 fj412023- £11,313,101). Roserves policy The charity relies on donations and offerings from ils members. 11 is recognised thal donat￿nS and offerings can fluctuate from year lo year. The Iruslees aim lo ensure that the charity has sufficient resources lo ¢onlinue ils activities and lo meel ils obligalions and to prol￿de for lulure capital expenditure. To this end, it is considered prudent that sufficient liquid funds a￿ maintained. Plans for future periods The charity does not anticipate any change in ils operation8 and expects lo continue with ils slated objectives and lo continue to provide improving facilities lo the members of the Sikh community as well as the wider local community. Tru8te&s' responsibilities statèment The trustees are responsible for preparing the trustees. report and the financial slalemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicab￿ to charities in England and Wales reouires the charity trustees lo prepare financial slalements lor each year which give a true and fair view of the slate of affairs of the charity and of the incoming resources 8nd application of resources, of Ihe charity for that period. In piep8ring these financial slalemenls, the Iruslees are required lo.. select suitable accounting policies and then apply them consislenlly., observe the methods and principles in the applicable Charities SORP., make judgments and a¢¢ounling eslimales that are reasonable and prudent,. stale whether applicable UK Aceounling Standards have been followed, subject lo any material departures disclosed and explained in the financial slalements., prepare the financial slalemenls on the going concern basis unless rt is inappropri8le lo presume that the ¢harity will continue in business. Singh Sabha London East Trustees. Annual Report (tonllnued) Year ended 31 March 2024 The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose wf(h reasonable ac¢uracy at any lime the financial position of the charity and enable Ihem to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports} Regulations, and the provisions of the Trust Deed. They are also responsible for saf8guarding the assets of the charity and hence for taking reasonable steps for the prevention and deleGlion of fraud and other irregularities. The trustees, annual report was approved on Iruslees by.. and svJned on behalf of the board of Salnam Singh (President) Trustee Gurdip Sinoh Hundal Ivice Pres#Jenl) Trustee Jagdish Singh Julle ffreasurer) Trustee Singh Sabha London East Independent Auditor's Report to the Members of Singh Sabha London East Year ended 31 March 2024 Opinlon We have audited the financial statements of Singh Sabha London East {Ihe 'charily'l for the year ended 31 March 2024 which Comprise the slalemenl of financial aclivilies, slalement of financial position. statement of cash flows and the related notes, including a summary ol significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Fin8ncial Reporting Standard applicable in the UK and Republi¢ of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial slalements.. give a true and fair view of the stale of the charity's affairs as al 31 March 2024 and of its incoming resources and application of resources, including ils income and expenditure. for the year then ended, have been properly prepared in aocordtsnce wth United Kingdom Generally Accepted A¢¢ounting Practice., have been prepared in accordance wlh the requirements of the Charities Act 2011. Basls for opinlon We conducted our audit in accordance with Inlern81ional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibililios under those standards are further described in the auditor's responsibilities lor the audit ol the financial slalemenls section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant lo our audit of the financial slalemenls in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan￿ with these requirements. We believe that the audit evidenGe we have oblained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to golng concern In auditing the financial stalemenls, we have concluded that the Iruslees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have p$rformed, we have not identified any material uncertainties relating lo events or ¢onditions that, individually or collectively, may c881 significant doubl on the charity's ability lo continue as a going concern for a period of al least twelve months from when the financial statements aTe aulhorised for issue. Our responsibilities and the responsibililies of the Iruslees with respect to going concern are described in the relev8nt sections of this report. Singh Sabha London East Independent Auditor's Report to the Members of Singh Sabha London East fconiinuedl Year ended 31 March 2024 Other Information The other information comprises the information included in the annual report, other than the finanual statements alld our auditor's report Ihereon. The Iruslees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicilty slated in our report, we do not express any fomi of assurance conclusion Iher80n. In connection with our audit ol the financial slalemenls, our responsibility is to read the other information and. IN doing so, consider whether the other Infotmalion is materially inconsislenl with the financial statements or our knowledge obtained in the aLJdil 01 otherwise appears lo be materially miss181ed. If we identify such material inconsistencies or apparent material misslatemenls, we are required lo determine whether there is a material misslalèment in the financi81 statements or 8 material rnisslalemenl of the other information. If, based on the work we have perfomed, we conclude that there is a material misslalemerrt of this other information, we are required lo report that fact. We have nothing to report in this regard. matte￿ on which we aye required to report by gxception In the light of the knowledgtt and Ljnderslanding ol the charity and ils environment obtained in the course of the audit, we have not identified material misstalemenls in the trustees, fftport. We have nothing lo report in respect of the following matters in relation to which the Charities Act 2011 requires us lo report lo you if, in our opinion.. the information given in the Iruslees, report is inconsislenl in any material respect with the financial slalemenls., or adequate accounting Tecords have not been kept", or the financial slalemenls are not in agreement with the accounting records and returns., or we have not received all the information and explanations we require for our audit. Responsibilities of tru$t¢es As explained more fully in the trustees, responsibilities statement, the Iruslees are responsible for the preparation of the financial slalemenls and for being satisfied that they give a true and fair view, and for such internal control as the Iruslees delemiine is necessary lo enable the preparation of finanaal slalements that are free from material mi8slal8menl, whether due lo fraud or error. In preparing the financial slatemenls, the trustees are responsible for assessing the charills ability lo continue as a going concern, disclosing, as applicable, mallers related lo going concern and using the going concern basis of accounting unless the Iruslees eilhei intend to liquidate the charity or lo cease operations, or have no realistic aliernalive bul lo do so. Singh Sabha London East Independent Auditor's Report to the Members of Singh Sabha London East leoniinueL*) Year ended 31 March 2024 Auditor's responsibilltiès for thtt audlt of thg financlal statements Our objectives are to obtain reasonable assurance abwl whether the financial slalemenls as a whole are free from materi81 misstatement, whether due to fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS {UKI will always delecl a material misslatemenl when il exists. Misslalements can arise from fraud or error and ere considered material if, individually or in the aggregate, they could reasonably be expected lo Influen￿ the economiG decisions of users taken on the basis ol these financial statements. Irregularities, including fraud, are instances of non-complian￿ wlh laws and regulations. We design procedLj￿s in line with our responsibilities, outlined above, lo dele¢l material misslalements in respect of irregularities, including fraud. The exient to which our procedures are capable of delecling irregularities, including fraud is detailed below.. We identified and assessed the rllsks of material misstatement of the financial statements from irregularities, whether due to fraud or error. and discussed these among our audit team members. We then designed and performed audit procedures responsive lo those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion. Vve gained an understanding of the legal and regulatory framework applicable lo the charity operates and considered the risk of acts by the charity that were contrary lo applicable laws and regulations, including fraud. We designed audit procedures lo respond lo the risk. recognising Ihal the risk of not detecting a material misslalemenl due lo fraud is higher than the risk ol not delecling one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresenlalions, or through collusion. We focussed on laws 2nd regulations which could gnie rise to a material effect in the financial slal¢menls or the operations of the charity, Including, bul not limited to, the Charities Act 2011, Ch8rilies (Accounts and Reports Regulations) and the Charities SORP IFRS 1021. data protection and anli-money laundeting. Our lesls included agreeing the financial statement disclosuTes lo underlying supporting d(Kumenlalion and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the fin8n¢i81 statements, the less likely we would become aware of it. Vve did not identify aT)y key audit mallers relating lo ir￿g￿larItIes, including fraud. As in all our audits. we also addressed the risk of Management override of inlemal controls. including testing joumals and evaluating whalher there was evidence of bias by the trustees that represented a risk of of material Misslalemenl due lo fraud. As part of an audit in accordan￿ with ISA8 (UK), we exercise professional judgment and maintain professional sceplicism throughout the audit. We also.. Identify and assess the risks of material misslalemenl of the financial statements, whether due lo fraud or error, design and perform audit pro￿dUleS responsive lo those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not delecling a material misslalemenl resulting from fraud is higher than for one resulting froTll error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order lo design audit proce(Jures that are appropriate in the circumstances, bul not for the purpose of expressing an opinion on the effectiveness of the internal Control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting eslimales and related disclosures made by the truslees. 10 Singh Sabha London East Independent Auditor's Report to the Members of Singh Sabha London East {¢oniinuerll Year ended 31 March 2024 Conclude on the appropriateness of the trustees, use of the going concern basis ol accounting and, based on the audit evidence obtained, whether a material uncertainly exists related lo events or conditions that may cast significant doubl on the charity's ability to continue as a going concern. If we conclude that a material uncertainly exists, we are required lo draw attention in our auditor's report lo the related disclosures in the financial slalements or, if such disclosures are inadequate, lo modify our opinion. Our conclusions are based on the audit evidence obtained up lo the dale ol our auditor's report. However, future events or conditions may cause the charity lo cease lo continue as 8 going concern. Evaluate the overall presentation, slruclure and conlenl of the financial slatemenls, including the disclosufes, and whether the financial sl8lemenls represent the undedying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, arnong other matters, the planned scope and timing of the audit and significant aLJdit findings, including any significant deficiencies in inlernal conlToI Ihal we idenlrfy during our audit. Use of our report This report is made solely lo the charity's members. as a body, in accordance with section 144 of the Charities Act 2011 and regulations made undei se¢lion 154 of that Act. Our audit work has been undertaken so that we might slate lo the charily's members those mallers we are required lo slate ID them in an auditorts report and for no other purpose. To the fullest extent permilled by law, we do not a¢￿pt or assume responsibility to anyone other than the Charity and the ¢harity's members as a body, for our audit work, for this report, or for the opinions we have for ed. R C Patel (Senior Stalulory Auditor) For and on behalf of Inger & Company Accoulllanls & slalulory auditor 7 Redbridge Lane East Redbridge, Ilford Essex IG4 SET 20 June 2024 Singh Sabha London East Statement of Financial Activities Year ended 31 March 2024 2024 Unreslricled funds Total funds Total funds 2023 Note Income and endowments Donations and legacies Charitable activities Investment income Other income 1,146,665 549,672 3,666 1.739 1,146,665 549,672 3,666 1,739 1,234,024 668.215 276 2,999 1,8Q5.514 Total income 1.701,742 1,701.742 Expenditur¥ on charitable activities 8-10 1,738,729 1,738,729 1,364,328 Nèt {èxpenditureVincome and net movement in funds 136,9871 {36,987} 441,186 Reconciliation of funds Total funds brought fomiard Total funds carriad fOn￿ard 11,313,101 11,313,101 10,871,915 11,276,114 11,276,114 11,313,101 The statement of financial 8clivilies includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. The notes on pages IS to 22 form part of these Ilnancial statements. Singh Sabha London East Statement of Financial Position 31 March 2024 2024 2023 Note Fixed assets Tangible fixed assets 17 16,027.356 16.305,548 Current assets Debtors Cash al bank and in hand 18 19,530 462,414 481,944 74,632 561,457 636.089 Creditors: amounts falling due withln one year Not Current assets 19 170,630 250.813 311,314 385,276 16.338,670 16,690,822 Total assets less current liabilities Creditors: amounts falling due after more than one year 20 5,062,556 5,377.721 11,276.114 11.313,101 Net assels Funds of the charity Unrestricted funds 11,276.114 11,313,101 11,276.114 11,313,101 Total charity funds 22 Thes ancial statements We￿ approv8d by the board of trustees and authorised for Issue on and are signed on beh81f of the board by: Salnam Singh (President) Trustee Gurdip Singh Hundal (Vice Presklenl) Tnjslee The notes on pages 15 to 22 form part of the¥e Ilnan¢lal statements. 13- Singh Sabha London East statement of Cash Flows Year ended 31 March 2024 2024 2023 Cash Ilows from operating activities Nel lexpenditurellincome 136,987} 441,186 AdJuslm8nls for.. Depreciation of tangible fixed assets Other interest receivable and similar income Interest payabl8 and similar charges Gains on disposal of tangible fixed assets AcGrued income 389,351 374,181 13,6661 12761 433,783 261,671 11,7391 12,9991 115,2051 (234,4621 Changes in." Trade and other debtors Tr8de and other creditors 55,102 22 17 {1101 839,208 Cash generated from Operat￿n$ 820,661 Interest paid Interest received 1433,7831 3,666 1261,6711 276 Nel cash from operating activities 390,544 577.813 Cash flows from investing actlvlties Purchase of tangible assets Pro￿ed$ from sale of tangible assets Nel cash used in invssling aclivilies 1111,1621 1,740 1109.4221 1194,7691 3,000 1191,7691 Cash flow8 from fSnancing activltles Repayments of Ix>rrowings Nel cash used in financing activities 1380,1651 1445,1681 1380,1651 1445,1681 Net decrease in ¢ash and cash equivalènts Cash and cash equivalents at beglnnlng of year Cash and cash equivalent$ at and of year {99,0431 561,457 462,414 (59,1241 620.581 561,457 The notes on pages 15 to 22 fomi part of these financlal statements. 14- Singh Sabha London East Notes to thè Financial Statements Year ended 31 March 2024 General infonnation The charity is a public benefit enlily and a registered charity in England and Wales and is unin¢orporaled. The address of the principal office is 100 North Street, Barking, Essex, IG11 8JD. Statement of compliance These financial slalemenls have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended PracliGe appli¢able to charities preparin9 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 7021 (Charities SORP IFRS 102)) and the Charities Act 2011. A¢¢ounting polieios Basis of preparation The financial slalemenls have been prepared on the historical cost basis. as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or &xpendilure. The financial slalements are prepared in slorling, which is the functional currency of the enlily. Going concern There are no material Un￿rtaIntieS aiK)ul the charity's ability lo continue. Judgements and key sour¢e$ of estimation uncertainty The preparation of the financial statements requires the Trustees lo make judgements, eslimales and assumptions that affect the amounts reported. These eslimales and judgements are continually reviewed and are based on experience and other factors, induding expe¢talions of future events that are believed lo be reasonable under the circumstances. Fund accountlng Unreslricled funds are available for use al the discretion of the Iruslees lo further any of the charity's purposes. Designated funds are unreslricled funds earmarked by the Iiuslees for particular future project or commitment. Restricted funds are subjected lo restrictions on their expenditure cledared by the donor or through the terms of an appeal, and fall into one of two sub-classes,. restricted income funds or endowment funds. IS- Singh Sabha London East Notes to the Financial Statements (conlinuedj Year ended 31 March 2024 Accounting policies {contlnuedJ Incoming resources All income is included in the slalemenl of financial activities when enlillemenl has passed lo the charity, it is probable that the economic benefits associated with the transaction will flow lo the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of enlillement lo the gift. ￿ceipt is probable and its amount can be measured reliably. legacy income is Tecognised when re￿Ipl is probable and enlitlerllent is es18blished. income from donated gocds is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the valLJe is derived from the Cost to the donor or the eslimaled resale value. Donated facilities and services are recognised in the accounts when received If the value can be reliably measured. No amounts are included for the contribution of general volunteer5. Resources èxpènded Expenditure is recognised on an accruals b8sis as a liability is incurred. Expenditu￿ includes any VAT which cannot be fully recovered, and is classified under headings of the statement of fillancial activities lo which il relates.. expenditure on raising funds includes the costs of all fundraising actTriilies, events, non-charilable trading activities, and the Sa￿ ol donated goods. expenditure on charitable activities includes all costs incuired by a charity in undertaking activities that further ils charitable aims for the benefit of ils benefi'ciaries, including those support costs and Gosls relating lo the governance of the charrty apportioned to charitable activities. other expenditure inclLJdes all expenditure that is neilheT ielated to raising funds for the charity nor part of ils expenditure on chari18ble adivities. ASI costs are allocated lo expenditure categories reflecting the use of the resourGe. Direct costs allribulable lo a single activity ale allO￿ted directly lo that aclivily. shar￿ costs are apportioned behNeen the activities they contribute to on a reasonable, justifiable and consistent basis. Tanglble assets All fixed assets are initially recorded al cost. Dopr8ciation Depreci81ion is calculated so as lo wrile off the cost or valuation of an asset, less ils residual value, over the useful econornic life of that asset as folbws.. Fre&hold property Fixtures & litlings Motor vehicles Over 50 years 200A slraighl line 20°A slraighl line 16- Singh Sabha London East Notes to the Financial Statements (conlinued) Year ended 31 March 2024 Accounting policies (cortflnued) Impaimionl of flxed assats A review for indicators of impairment is carried out al each reporting dale. with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior itnpairments are also reviewed for possible reversal al ea¢h reporting dale. For the purposes of impaiirllenl lesling, when il is not possible lo estimate the recoverable amount of an individual asset, an estirnate is made ol the recoverable amount of the ash-generaling unit lo which the asset belongs. The cash-generaling unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. Defined Contribution plans Contributions lo defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset lo the extent that the P￿paYment will lead lo a reduction in future payments OT a cash refund. When contributions are not expected to be settled wholW within 12 months of the end of the reporting dale in which the employees lender the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Donations and l¢gacies Unrestri¢ted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations and offerings Education income Donations- Building 962,500 4,500 179.665 962,SLIO 4,500 179,665 967,913 3,605 262,506 1,234,024 7,913 3.605 262,506 1.146,685 1,146,665 1.234,024 Charttable activities Unreslricled Total Funds Unreslricled Total Funds Funds 2024 Funds 2023 Kitchen langar 549,672 549,672 568,215 568,215 Investment income Unrestricted Total Funds Unreslricled Total Funds Funds 2024 Funds 2023 Bank interest receivable 3,686 3,666 276 276 17- Singh Sabha London East Notes to the Financial Statements (COnllnueO) Year ended 31 March 2024 Other Income Unreslricled Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Gain on disposal of tangible fixed assets held for charity's own use 1,739 1,739 2,999 2,999 Expenditure on charitable activitias by fund type Unrestri¢led Total Funds UnreslrKled Total Funds Funds 2024 Funds 2023 Staff costs Premises Donations Miscellaneous Insurance Sundries Communications Bank charges 12,489 616.358 41,623 194,479 23,227 15,644 8,325 16,203 12,489 616,3S8 41,623 194,479 23,227 15,644 8,325 16,203 fj2,410 495,334 42,351 188,206 20,818 1,223 8,119 15,614 12,410 495,334 42,351 188,206 20,818 1,223 8,119 15.614 928,348 928.348 784,075 784,075 Expenditure on charitable activities by fund type (other) Unreslricled Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 Inleresl on loans Kilchen Langar Support costs 433,783 362,558 14,040 810,381 433.783 362,558 14,040 261,671 307,322 11,260 261,671 307,322 11,260 810,381 580,253 580,253 10. Expenditure on charitable activitles by activity type Activities undertaken directly Support costs Total funds 2024 Total fund 2023 Note 8 Interest on loans Kitchen Langar Governan¢e costs 928,348 433,783 362,558 928.348 433.783 362,558 14,040 1,738,729 784,075 261,671 307,322 11.260 1,364,328 14,040 14,040 1.724,689 18- Singh Sabha London East Notes to the Financial Statements Iconiinu*d) Year ended 31 March 2024 11. Net lexpenditurollincome Net lexpenditurellincome is slated after chargingllcredilingl.. 2024 2023 Depreciation ol tangible fixed assets Gains on disposal of tangible fixed assets 389,351 11.7391 374,181 {2,9991 q 2. Auditors romuneration 2024 2023 Fees payable for the audit of the financial statements 10.440 9,480 13. Staff costs The average head count of employees during the year was fj 12023.. 11. No employee re￿ived employee benefits of more than £60,000 during the year12Q23.. Mill. 14. Trustee remuneration and èxpenses No remuneration or other benefits from employment with the charity or a related enlily were received by the Iruslees. IS. Transfers botrjeen funds There were no transfers between the funds during thè year. 16. Capital commitments Al 31 March 2024, SSLE has Capital commrtmenls contracted for bul not provided for in these financial slalemenls of £Nil12Q23- £Nill 19 Singh Sabha London East Notes to the Financial Statements (continued) Year ended 31 March 2024 17. Tanglble fixed assets Freehold Fixtures and property Motor vehicles Total Cost Al 1 April 2023 Additions Disposals At 31 March 2024 18,225,280 14,229 175,610 91,933 {99,7401 167,803 16,100 18,416,990 5,000 111,162 116,1001 1115,8401 5,000 18.412,312 18,239,509 Depreciation Al 1 April 2023 Charge for the year DIsp05als At 31 March 2024 1.959,933 354,790 135,412 33,561 (99,7401 69,233 16,099 2,111.444 1,000 389,351 116,0991 1115,8391 1,000 2,384,956 2,314,723 Carrying amount At 31 Nlaroh 2024 15,924,786 98,570 40,198 4,000 16,027,356 16,305,546 Al 31 March 2023 16,265,347 18. Debtor6 2024 2023 Other debtors 19,530 74,632 19. Creditors.. amounts falling due within one year 2024 2023 Bank losns and overdralls Accruals and deferred income Social security and other taxes Other crediloTS 131,000 39,590 196,000 54.795 18 40 170.630 250,813 Bank loans of £131.000 {2023 - £196.000} disck)sed under creditors falling due within one year are secured by the charity's assets. 20- Singh Sabha London East Notes to the Financial Statements {conliRueLIJ Year ended 31 March 2024 20. Creditors: amounts falling duè after more than one year 2024 2023 Bank loans and overdrafts 5,062,556 5.377,721 Bank loans of £5,062.556 12023 £5,377,721) disclosed under creditors falling due after one year are secured by the charity's assets. 21. Pensions and other post rolirement benefits Defined contrlbution plan8 The amount recognised in income or expenditure as an expense in relation lo defined contribution plans was £18512023.. £Nill. 22. Analysis ol charitable funds Unre8tri¢t•d funds At 31 March 202 Al 1 April 2023 Income Expenditure General funds 11.313,101 1,701.742 11,738.7291 11,276,114 Al 31 March 202 Al 1 April 2022 Income Expenditure General funds 10,871.915 1,805,514 11,364,328) 11.313,101 21 Singh Sabha London East Notes to the Financial Statements Icontinutd) Year ended 31 March 2024 23. Analysls of net assets between funds Unreslricled Total Funds Fijnds 2024 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 16,027,356 16.027.356 481,944 481,944 {170,63QI 1170,6301 15,062,556) {5.062,5561 11,276,114 11,276,114 Unreslricled Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net asset8 16,305,546 16,305,546 636,089 636,089 1250,8131 1250,8131 15,377,721) 15,377.7211 11,313,107 11,313,101 24. Analysls of changes in net dtrbt At Al 1 Apr 2023 Cash flows 31 Mar 2024 Cash at bank and in hand Debt due within one year Debt due after one year 561.457 1196,0001 15,377,721) 15,012,264) 199.0431 462,414 65,000 {131,0001 315,165 15,062,5561 281,122 14.731,1421 -22-