REGISTERED CHARITY NUMBER: 0264931
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
FOR SIKH GURDWARA SOUTH LONDON
Alchemy Financial Solutions Ltd 19 Edinburgh Drive Staines - Upon - Thames Surrey TW18 1PJ
SIKH GURDWARA SOUTH LONDON
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
Page Report of the Trustees 1 to 3 Independent Examiner's Report 4 Statement of Financial Activities 5 Balance Sheet 6 Notes to the Financial Statements 7 to 12 Detailed Statement of Financial Activities 13 to 14
SIKH GURDWARA SOUTH LONDON
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2021
The trustees present their report with the financial statements of the charity for the year ended 30 April 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
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SIKH GURDWARA SOUTH LONDON
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Public Benefit
The Trustees are aware of the Charity Commission’s guidance on public benefit reporting as set out in the Charities Act 2011. The Trustees believe that its objectives and activities of promoting the spiritual and moral advancement of humanity are for the general benefit of the public
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level of reserves (that is those funds that are freely available) that there are funds to cover initial support for emergency
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young offenders as their needs fall due. Reserves are also are not feasible. The trustees therefore consider that the
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objectives and aims of the Gurdwara. All the major religious education to Sikh Children. Some of the children are to inform our members about the prevalence diseases of H&S checks and improvements to safeguard the
Reserves policy
The trustees have established the level of reserves (that is those funds that are freely available) that the charity ought to have. Reserves are held to ensure that there are funds to cover initial support for emergency appeals in the case of natural disasters and to support young offenders as their needs fall due. Reserves are also held to sustain operations when income generating activities are not feasible. The trustees therefore consider that the level of reserves as at 30.04.2020 of £1,082,800 (2019: £1,080,016) are sufficient to cover the above.
Principal funding sources
The main source of income was Voluntary income £66,880 (2019: £62,281). The charity received investment income of £21,979 (2019: £19,024) which shows an increase in the interest earned during the year on bank reserves.
Significant activities
The charity's main areas of activity this year were:
-The implementation of the objectives and aims of the Gurdwara. All the major religious milestones in the Sikh calendar were celebrated with invitations to prominent Sikh preachers and scholars.
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-Teaching of Punjabi and religious education to Sikh Children. Some of the children are ready to take GCSE exams.
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in Punjabi.
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An ongoing programme of improvement of the fabric of the buildings has been in progress during the year. - Medical seminars were organised to inform our members about the prevalence diseases such as diabetes, coronary heart problems and dementia in the community. Advice and help was made available to members who needed it. - Charitable work such as providing food for the elderly and needy was undertaken by volunteers.
Health and Safety
The Charity has an ongoing programme of H&S checks and improvements to safeguard the welfare of its members and any hazard identified is remedies immediately.
Covid 19
The Managing Trustees have followed Government regulations regarding Covid 19 diligently in the interests of Health and safety of their members. They have been proactive in implementing the Covid 19 safety measures in the Gurdwara premises. In March 2020 as the pandemic was beginning to spread, they cancelled the twice weekly congregational prayers and allowed attendance for individual prayers only. In June 2020 with the Covid virus continuing to spread the Trustees took the decision to close the Gurdwara completely - apart from funerals with limited numbers - to safeguard the health of their members and to assist the authorities in bringing the infections under control.
Since virtually all the Gurdwara income is from voluntary donations by members of congregations, the restrictions and the full closure has had a significant effect on Gurdwara finances. However as per the reserves policy stated above the Trustees have been able to meet the day to day running expenses from the funds set aside for just such emergencies. Gurdwara financial position is stable and the Trustees are keeping it under regular review and will take any action necessary to maintain this status.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
0264931
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SIKH GURDWARA SOUTH LONDON
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2021
Principal address
142 Merton Road Southfields London SW18 5SP
Trustees
A S Dhanjal J S Plaha Mrs M K Gill V S Matharu Mrs G K Ghata-Aura
- and review the risks to which the charity is exposed
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Independent Examiner
Inderjot Matharu FCCA Alchemy Financial Solutions Ltd 19 Edinburgh Drive Staines - Upon - Thames Surrey TW18 1PJ
EVENTS SINCE THE END OF THE YEAR Information relating to events since the end of the year is given in the notes to the financial statements. Approved by order of the board of trustees on ............................................. and signed on its behalf by: ........................................................................ Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SIKH GURDWARA SOUTH LONDON
Independent examiner's report to the trustees of Sikh Gurdwara South London
I report to the charity trustees on my examination of the accounts of Sikh Gurdwara South London (the Trust) for the year ended 30 April 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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with the applicable requirements concerning and Reports) Regulations 2008 other than any requirement across no other matters in connection with the examination
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Inderjot Matharu FCCA Alchemy Financial Solutions Ltd 19 Edinburgh Drive Staines - Upon - Thames Surrey TW18 1PJ Date: .............................................
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SIKH GURDWARA SOUTH LONDON
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2021
| DRAFT Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Raising funds 3 Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2021 Unrestricted fund £ 17,019 16,680 33,699 34,499 4,537 39,036 (5,337) 1,082,800 1,077,463 |
2020 Total funds £ 66,880 21,979 |
|---|---|---|
| 88,859 51,532 34,543 |
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| 86,075 | ||
| 2,784 1,080,016 |
||
| 1,082,800 | ||
The notes form part of these financial statements
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SIKH GURDWARA SOUTH LONDON
BALANCE SHEET 30 APRIL 2021
2021 2020 Unrestricted Total fund funds Notes £ £ FIXED ASSETS Tangible assets 7 1,037,084 1,040,934 CURRENT ASSETS Cash at bank and in hand 46,927 48,761 CREDITORS Amounts falling due within one year 8 (6,548) (6,895) NET CURRENT ASSETS 40,379 41,866 TOTAL ASSETS LESS CURRENT LIABILITIES 1,077,463 1,082,800 NET ASSETS 1,077,463 1,082,800 FUNDS 9 Unrestricted funds 1,077,463 1,082,800 TOTAL FUNDS 1,077,463 1,082,800 The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. Trustee
The notes form part of these financial statements
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SIKH GURDWARA SOUTH LONDON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
as expenditure as soon as there is a legal or constructive it is probable that a transfer of economic benefits will be can be measured reliably. Expenditure is accounted for that aggregate all cost related to the category. Where they have been allocated to activities on a basis the following annual rates in order to write off each asset - 20% on reducing balance - 20% on reducing balance for particular restricted purposes within the objects
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance Fixtures and fittings - 20% on reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
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SIKH GURDWARA SOUTH LONDON
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2021
2. INVESTMENT INCOME
| DRAFT 2021 £ Rents received 16,600 Interest receivable - trading 80 16,680 RAISING FUNDS Raising donations and legacies 2021 £ Staff costs 11,218 Sundries 186 Kirten Bhet - Support costs 15,840 27,244 Investment management costs 2021 £ Property repairs 7,251 Aggregate amounts 34,499 TRUSTEES' REMUNERATION AND BENEFITS There were no trustees' remuneration or other benefits for the year ended 30 April 2021 nor for the 30 April 2020. Trustees' expenses ' |
2020 £ 21,900 79 |
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| 21,979 | |
| 2020 £ 11,780 2,155 5,562 - |
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| 19,497 | |
| 2020 £ 31,325 |
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| 51,532 | |
| year en |
3. RAISING FUNDS
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 April 2021 nor for the year ended 30 April 2020.
There were no trustees' expenses paid for the year ended 30 April 2021 nor for the year ended 30 April 2020.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 2021 | 2020 | |
|---|---|---|
| Staff | 1 | 1 |
No employees received emoluments in excess of £60,000.
continued...
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SIKH GURDWARA SOUTH LONDON
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2021
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| D INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 7. TANGIBLE FIXED ASSETS COST At 1 May 2020 and 30 April 2021 DEPRECIATION At 1 May 2020 Charge for year At 30 April 2021 NET BOOK VALUE At 30 April 2021 At 30 April 2020 |
RA Freehold property £ 1,021,684 - - - 1,021,684 1,021,684 |
FT Plant and machinery £ 2,788 1,145 328 1,473 1,315 1,643 |
Fixtures and fittings £ 157,644 140,037 3,522 143,559 14,085 17,607 |
Unrestricted fund £ 66,880 21,979 88,859 51,532 34,543 86,075 2,784 1,080,016 1,082,800 Totals £ 1,182,116 141,182 3,850 145,032 1,037,084 1,040,934 |
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continued...
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SIKH GURDWARA SOUTH LONDON
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2021
| DRAFT 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Taxation and social security Other creditors 9. MOVEMENT IN FUNDS At 1.5.20 £ Unrestricted funds General fund 1,082,800 TOTAL FUNDS 1,082,800 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 33,699 TOTAL FUNDS 33,699 Comparatives for movement in funds At 1.5.19 £ Unrestricted funds General fund 1,080,016 TOTAL FUNDS 1,080,016 |
2021 £ 28 6,520 6,548 Net movement in funds £ (5,337) (5,337) Resources expended £ (39,036) (39,036) Net movement in funds £ 2,784 2,784 |
2020 £ 15 6,880 6,895 At 30.4.21 £ 1,077,463 1,077,463 Movement in funds £ (5,337) (5,337) At 30.4.20 £ 1,082,800 1,082,800 |
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continued...
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SIKH GURDWARA SOUTH LONDON
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2021
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 88,859 | (86,075) | 2,784 |
| TOTAL FUNDS | 88,859 | (86,075) | 2,784 |
| DRAFT A current year 12 months and prior year 12 months combined position is as follows: Net movement At At 1.5.19 in funds 30.4.21 £ £ £ Unrestricted funds General fund 1,080,016 (2,553) 1,077,463 TOTAL FUNDS 1,080,016 (2,553) 1,077,463 A current year 12 months and prior year 12 months combined net movement in funds, included in the above a as follows: Incoming Resources Movement resources expended in funds £ £ £ Unrestricted funds General fund 122,558 (125,111) (2,553) TOTAL FUNDS 122,558 (125,111) (2,553) |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 April 2021.
continued...
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SIKH GURDWARA SOUTH LONDON
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2021
11. POST BALANCE SHEET EVENTS
The World Health Organisation declared the outbreak of the coronavirus a pandemic in March 2020. As we progress through 2020, more information is becoming known about the scale and impact of the coronavirus. The pandemic might have a financial effect on the Charity and its operations. This may include changes to project implementation plans, alterations to ways of working and reductions in future donations.
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SIKH GURDWARA SOUTH LONDON
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2021
| FOR THE YEAR ENDED | 30 APRIL 2021 | ||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| INCOME AND ENDOWMENTS | |||
| Donations and legacies | |||
| Donations | 14,413 | 62,126 | |
| Gift aid | 2,606 | 4,509 | |
| Subscriptions | - | 245 | |
| 17,019 | 66,880 | ||
| Investment income | |||
| Rents received Interest receivable - trading Total incoming resources EXPENDITURE Raising donations and legacies Wages Pensions Sundries Kirten Bhet Other trading activities Travelling Investment management costs Property repairs Other Cleaning Plant and machinery Fixtures and fittings |
DRAFT 16,600 80 16,680 33,699 11,005 213 186 - 11,404 4 7,251 687 329 3,521 |
21,900 79 21,979 88,859 11,634 146 2,155 5,562 19,497 710 31,325 6,412 411 4,402 |
|
| 4,537 | 11,225 | ||
| Support costs | |||
| Management | |||
| Rates and water | 1,293 | 2,233 | |
| Insurance | 2,536 | 2,455 | |
| Light and heat | 7,518 | 13,162 | |
| Telephone | 1,953 | 1,523 | |
| Carried forward | 13,300 | 19,373 |
This page does not form part of the statutory financial statements
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SIKH GURDWARA SOUTH LONDON
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2021
2021 2020 £ £ Management Brought forward 13,300 19,373 Postage and stationery 380 1,125 Advertising - 300 13,680 20,798 Governance costs Accountancy and legal fees 2,160 2,520 Total resources expended 39,036 86,075 Net (expenditure)/income (5,337) 2,784
This page does not form part of the statutory financial statements
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