Registered Charity Nvmber.. 266714 Srl Guru Slngh Sabha Gurdwara Trustee5' Annual Report and Flnan¢ial Statement5 Forthe yearended 31 March 2024
Srl Guru Skn8h S•bh Gurdw•rn Conlents oftheTrustees' Annu•l Report and Audlt•d Fkn•n¢l•l Statements lor the Yr ended 31 M•rch 2024 P4e Rew¢ ofthe Trurt•eJ R•pwt olth• Ind•p•nd•nt Audltors St•tement olFIMnclal A¢tlvltle$ io Bal•nc• Sheet li Notsi to th• Hn•ncll St•temertts 12-17 The lollowlni li not p•rt of Jt•tutory •£courbts D•tsll•d IKom• •nd ExndIr* Attount Fol th• ye•r •nded 31 Mirth 2024 18
Sri Guru Singh Sabha Gurdwara Report of the Truslees for the year ended 31 March 2024 trustees present their annual report and audited financial statements for the year ended 31 March 2024. The Injstees have adopted the provislons of Accounting and Reporting by Charities-. Statement of Recommended Practice applicable to chaiitles preparinE thelr attount5 in accord3llce with the Financial Reporting Standard appllcable In the UK and Republlc of Ireland IFR5102I leffectlve l January 20191. Reference and Admlni5trative Inforn)atlon Chailty Name Srl Guru Slngh Sabha Gurdwara Charlty Reglstratlon Number 266714 Worshlp Re8iStratlon Nurnber 77318 Marrlage Referente Number 40870 Prlnclpal address 30a Cumberland Road, Readln8, 8erkshlre RGI 3LB Statutory Audltors Bu51ness Ledger Llmiled, Chartered Certlfied Accountants 3 Waterslde Orlve, Lan8ley Befkshlre SL3 6EZ Current Ranveer Sln8h Sahola Man8al Sln8h Bhullar Surlnder Sln8h Gill Surlit Slngh 5idhu Harlleet Slngh Haran Ral Slngh Glll Kamalprit 5in6h Dhallwal Previous Ranveer Sin8h Sahota Mangal Slngh 8hullar Surinder Singh Gill Surlil 51ngh 5idhu Harlleet Slngh Haran Ral Singh Glll Kamalprlt Sln8h Dhallwal Trustels M¥n*8ln8 ¢ommltt•• Mukh Sevadaar Salhek Mukh Sevadaar joint General Secretary Joint General Secretary Treasurer Gurcharan Slngh Gurrnail Sln8h Gar¢ha Navjit Kaur Glll Kullit Kaur Vlninder Slngh Balwa Gurpal Sln8h Malklat Slngh Glll Manmeet Sin8h Marwa Manmeet Slngh Hora Harprlt Singh Vlg Other commSttee members Jaspal Sln8h Sadhu Ramandeep Kaur Amardeep Sin8h Alit SlnÉh Khalon Balbir Kaur Lalli Satinder Sin8h Bassl Ajalb Slngh Manjit Kaur Sahota Pavltar Singh Kularia Almer Singh Chlranleev SSngh Manpreet Kaur Parmlnder Kaur Brar Parampal SlnBh Aiat Saranjeel 5ingh InderbSr Singh Sharanllt Slngh ftashpal Sin8h Bhuplnder Slngh
Sri Guru Sin8h Sabhè Gurdwara Report ol the Trustees for the year ended 31 Marth ZOZ4 Structurei govern•nce and management Governin8 document Srl Guru Slngh Sabha Gurdwara Is an unlncorporated assoclatlon and governed by declaratlon of Trust djted 5 November 1973 as varied by a scheme dated 8 October 1998 The day to day mana8ement and the admlnlstratlon of the rharfty Is delegated to the Mana8ln8 Committe. The Trustees hold the charws property IncludlnB13nd as holdln8 trustees. The flnandal controb Ile wh theTrustees The membershlp of the managlng Commlttee comprlses 15 Olflce holders that manage the day to day runnln8 of the chailty. Structure io¥ernance and m>na8ement The charlty ha5 seven trusiees who hold the charltV5 property. A management commlttee, who manage the charfty on day-to.day basls, consist5 of 15 Offlce holders that mana8e the day to day runnln8 of the Chailty. The commlttee meets monthlv. Rlsk M•n•8ement The member5 of mana8in8 cornmittee have assessed the rSsks the charlty faces includlng the likelShood of the rlsk$ happenlng and the rneasures taken to mana8e them. Speclal attention has been taken to ensure that those who work wlth chlldren and or othervulnerable 8roups ObJertl¥es •nd •¢tlvltles Our alms The objects of the chartty are set out In the charltvs 8overnlno document and are summarlsed as follows: To prornote the Sikh rellglon In Readln8 and Its adlolnin8 area by the followln8 means and such other mean5 a5 the Trustees and the Managln8 ComrnlttEe CDnslder to bè approprlate takln6 Into account the Charlly Cornm1551on's 8uldance on the publlc benefit In the Advoncement of Rellglon for the Ptsbllc 8enelit and havp re8ariJ to it In thelr admlnbstration of the charlty. In doln8 50. Gurdwara provbde5 a beneflt to the publk by:" l. Dalty Worship Servkes: Conductlng prayers and rell8lous ceremonles for the commun¥ 2. Langar Servlce- SeNin8 over 500 meals every week, throughout the year, Including durin8 major festlvals and events. 3. Educatlonal Pro8ramme5-. EnTol1in8 members In Punlabi lan8ua8e and Slkh studie5: 4. The malntenance of Gurdwara,. 5. The celebration of Slkh rel*lous festlvals; 6. The conduct of marrlage and funeral rites In accordance wlth Slkh rellgious observance. 7. To develop mutual understsndlng •nd hamionk)us relatlonshlps wlth other communltles, falth 8roup5 and charltable or8anisatlons. 8, Community Outreach.. Collaboratln8 wlth other local charltles to support those In need, Includlng food dlstrlbutlon drlves and mental health workshop5. These are pursued in a varlety of ways In¢ludin8 or8anisin8 formal talk5, seminars, trainin8 and other educatbonal activities. Reli8rous service5 are held da1 and free ve8etarlan rneals Ilangarl are provlded to members and worshippers dally. We are a part of the local Inter-fallh group.
5Yl Guru Slngh Sabha Gurdwara Report ofthe Trustees forthe year ended 31 M•r¢h 2024 Volunteers The Gurdwara Is grateful lor the effort5 of its many members and other volunteeT5 who are inVoed in the provlslon of prayer services, educational classes, charity events, runnin8 and maintenance of the kitchen and fund ralsing. ACHIEVEMENT AND PERFORMANCE Charitable actlvltles l. In Aprll, Gurdwara or8aThi5es Na8ar Kirtan IRellgitsus procession), around I,(XYJ people from all communities re8ularly attend. Thls procession promotes public awareness of the Sikh Aeli8ion and is a way of promotlng soclal cohesion with the local re51dent5. 2. Gurdwara provldes free educatlonal classes for the teachinB of traditlonal muslcal Instruments, Punl3bl langua8e and SSkh Studles. 3. On a dally bashs. the Gurdwara provldes a free hot meal to any dlsadvantaged members of the 50cietv re8ardless of rell8Son, caste and Cieed. A¢qulsltlon and Relurblshment of a New Gurdwara Slte Durlng this linarncial year, the con8reBatlon of Sri Guru Sln8h Sabha Gurdwara achleved a sl8nlfScant mllestone bv com5nÈ together to acquire a new slte lor the Guidwara. Th15 remarkable achievernent reflerts the collecllve splrlt, dedication, and generosity of our communlty, who contrlbuted selflessly to thbs monumeThtal project. The new $ile, located at Winner5h, Readln8, Is lar8er and better equippèd to meet thè growlng needs of our congre8ation, Once completed, It wlll ofler enhanced facllitles, Including.. A larger pr¥yer hall lo accommodate Irbcreased ollendance durlng regular seNices aThd major events. Modernlsed langar facilitles wbth expanded seating capaclty. Dedlcated spaces for educatlon, youth prograrnme5, and community attlvllles. Accessible Infrastructure to ensure incluslvity for all members of the communStv. Refurblshment Progress and Vlsion Refurblshment of the new 51te1s currentty underway, wlth the aim of cr@allng a welcomlng and insplrSn8 space that reflects the core value5 of Sikhi5m.' devotion, seNice, and equallty. The work Is being carried out In phase5 to ensure efficiellt use of resource5 and Minimal disruption to OUT Services. We ale pleased to report that the piolect Is on schedule. w5th an anticlpated cornpletion date before the end of 2025. Thls ambltlous Initlative would not have been posslble without the tlreless efforts of volunteers and the contlnued support of donors, whose contributlons are rnakin8 this vision a realltv. Communlty Involvement The acquisition and refurblshment of the new site have provided an opportunity for the entire communlty to unlte In Seva Iselfle55 service). Volunteer5 have been inVoed in fuTrdraising efforts, refurbishment planning, and logistical support. Key fundraislng events, such as Gurpurabs, have played a vital role in geneiatlng the resources needed to progress this project.
Srl Guru Sln8h 581)ha Gurdwar• Report of the Trusteesfor the ye•r ènded 31 Mareh 20Z4 Lookin8 Ahead Once completed. the new Gurdwara will not only serve as a place of worship but also as a hub for educatlon, ¢ultural preservation, and community outreach. It wlll enable Srl Guru Slngh Sabha Gurdwara to expand its servlces and further strengthen the bond5 wlthln the congregation. The Trustees expres5 their deepest gratltude to all members of the cornmunity for their unwaverlng supp)rt and look forward to wekomlng everyone to the new Gurdwara upon Its completlon. Voluntary Community Hub In addltlon to Its splrttual and cultural actlvltle5, Sri Guru Singh Sabha Gurdwara operates a voluntarlly run communSty hub th31 provldes vital 5UPPOrt to local re51dents. Thls hub seNes as a Ilfellne for Indlvlduals and famllle$ faclng a varleiy of challenges, offering asslstance wlth a¢¢ommodali?n, food securlty, job opportunlties, and emotional 5UPPOrt In times of need. The hub Is staffed entirely by dedicated volunteer5 who 8lve thelr tlme and expertise to ensure that no one In the communlty is left behlnd, Fln•n¢l•l Re¥lew Reserves pollcv Currently the trustees conslder that the Ve1 of free reserve5 (net assets excludlng flxed assetsl Is adequate. The conversion of the new bulldln8 into a Gurdwara building 15 pro8resslng at pace. All excess funds are commltled for this conveislon. Once the buSldln81s completed, the Trustees wlll ensure enouBh lunds are retalned to meet the day to day expenses 108ether wSth the capltal loan repèyments of the knan. The trustees plan to ensure that unrestrlcted fvnd re5eryes are fflalntained whlch are 5ufflclent to meet the needs of the ¢hartty for next six month5. Results for the y•ar In 2017, three members funded the acqulsltion of land lyin8 to the South of Reading Aoad, Winnersh, ReadSn8 for the Gvrdwèra for the sum of £196,(XIO. The land was a potentlal slte for a new Gurdwara Isublect to appropriate plannlng permkslonsl and a Detlaratlon of the Trust dated 2 June 2017 was executed. As at 31 March 2024, the amount of £196,0(2013'. £196,00011s repayablè to these three mèmbers. The total income increased In the year by £813,982 to £1,113,436. There have been net galns on investment property of £970.528. The total expendlture for the year excludlng depreciation and Interest decreased In the year from £146,651 to £122,681. Thè net movement in funds for the year was £1,863,22912023- £105,939) thereby Increasin8 the unrestrittÈd funds to £4,488,353 of whlch £3,750,113 Is Invested In the charlty's total fixed assets. The charity ha5 net current assets of £738,240. The Trustees would like to èxpre55 their heartfelt 8ralude to all volunteers. donors. and community member5 who contributed theSr tlme, effort, and resources to the Success of Sri Guru Slngh Sabha Gurdwara's mlsslon. The trustees afe of the oplnion that the Gurdwara is a 60in8 concern.
Sil Guru Sln8h Sabha Gurdwara Report of the Trustte5 foi the year énded 31 March 2024 Future Plan5 In the coming year, the Trustees aim to.. Complete the refurbishment of the new Gurdwara slte and make it the permanent base for the local congregation. Statement of trustees responslbllltlès The trustees are responsible for preparin8 the Annual Report and the financial statement$ In accordance with pplicable law and regulations. The law appllcable to charltles in England & Wales, the Charllies Act 2011, Charlty (Accoufils and Reports) Regulations 2008 requires the trustees to prepare flnanclal statements for each flnancial year in accordance with Unlted Kingdorn Generally Ac¢Ep¢ed Accountln8 Practlce Iunlted Klngdom Accountln8 Standards and appllcable lawl. The trustees must not approve the flnanclal statements Lbnless they ale satlsfled thai they glve a true and falr vlew of thè state ol affalrs ol the chailly and of the Incorning resource5 and applicatlon of resources, inclucling the income and expendlture, of the chorlty for that perlod. In preparing these financlal slalements, the trustees are iequlred to: al select sultable accountlDg pollcles and apply them consistently* bl obseNe the methods and prlnclples In the Charltles SORP.. cl make judgments and accountlng e5tlmates that Bre reasonable and prudent. dl state whether appllcable UK AccountlnE Standards have been followed, sublecl to any material departures disclosed and explained In the linancial statements. el prepare the flnanclal slaternents on the goln8 concern bas15 unless St Is Inapproprlate to presume that the charlty wlll contlnue to operate. The trustees are responsible for keeplng sufflcient accounting records that dlsclose with reasonable acturacy at any tlme the flrsanclal posltlon of the charlty and enable them to ensure that the flnanclal statement5 comply wlth the CharltSes Act 2011, the CharSty IA¢¢ounts and Report51 Regulations 2008 and the provisions of the trust deed. They are also responsible for 5aleguardln8 the assets of the charity and hence for takln8 reasonable Steps lor the prevention and detection of fraud and other 1rre8ularlties. Approved by the trustees on l O 30 4 and slgned on thelr behalf bv.. Haran Raj SlnBh Gill ITru5teel Vininder ingh Balwa (Treasurer)
Srl Guru Sinih Sabha Gurdwara The Indep•ndtnt Audltor5' Report to the Trustees ol Sri Gurn Sln8h Sabha 6urdwara Opinion We have audited the financlal 5tatement5 of Sri Guru Sin8h Sabha Gurdwara Ithe'charify'l forthe year ended 31 March 2024whlch comprlse profit and loss. balance sheet, cash fhjw and notes to the financlal statements, Includlng a summary of slgnlflcant accountln8 pollcles. The flnanclal reportln8 frdmework that has been applled In thelr preparatlon Is appllcable law and Unlted Kln8dom Accountln8 Standards, Includln8 Flnanclal Reportlng Standard 102 The Flnonclol Reportlng 5tondord oppllcÈ7ble In the UKond Republkof Ireland Iunlted Klngdom General Accepted Atcountln8 PTactlcel. In our oplnlon, the flnanclal statements.. Ive a true and falrvbew ol the state of the charlty's affalrs as at 31 March 2024 and of Its Incomlng resources and appllcailon of resource5 for the year then ended,. have been properly prepared in accordance wlth United Klngdom Generally Accepted Accountln8 Practlce; and have been prepared In accordance wlth thè requlrements of the Charitles Acl 2011. 8as15 for oplnlon We ctsndurted our audlt In accordance wlth Internatlonal Standards on Audltln8 IUKI IISAS IUKII and appllcable law. Our responslbllltles under those standards are further described in the Auditorfs responslbilltles for the audit olthe flnancial statements sectlon of our report. We are Independent of the charSty In accordance wlth the ethlcal requlrements that are relevant lo our audlt of the flnanclal statements in the UK. includln8 the FRC'S Ethl¢al Standard, and we have fulfilled our otherethical responsibllltles In accordance wlth these requlrements. We belleve that the audlt evldence we have obtained15 sufflclent and appropriate to provlde a bas15 for our opinion. Concluslons rel•tln& ta golni conc•rn In audltlng the flngncS91 statements, we have concluded thèt the trustees. use of the Boin8 concern basi5 of aecouThtln8 In the preparatlon of the flnanclal Statements is approprlate. Based on the work we have performed, w• have not Identlfled any materlal uncertaintles latIn8 to events or condltlons that, indl¥ldualty or collectively, may cast slgnlficant doubt on the charbws ablllty to contlnue as a goln8 concern for a perlod of at least twefve months frown when the financlal staternents are authorlsed for Issue. Our responslbilitle5 and the responslbilltles of the trustees wlth respect to golng concern are descrlbed In the relevant sectlons of thls report. oiher Inlorm•tlon The other Infomiatlon ¢omprlses the Information included in the annual report other than the financial statements and our auditorf5 report thereon. The trustees are responslble for the other Informatlon contained wlthln the annual report. Our opinlon on the financial statèments does not cover the other Informatlon ènd, except to the extent otherwise expllcltly stated in our report, we do not express any form of assurance Conclusion thereon. Our responsibility 15 to read the other information and, in doln8 so, consldef whether the other informatlon Is materlally Inconsistent wlth the financial statement5 or our knowledge obtained In the course of the audlt or otherwise
Report olThe Ihdependent Audltors to the TNstees of Sri Guru Sln8h Sabha GUwar Other Informafjon Icontlnuedl appears to bè materially misstated. If we identify such material inconslstencies or apparent material rnisstatements, we are requlred to determlnè whethèr thls glves rise to a material misstatement In the financial statements themselves. If, based on the work we have performed, we conclude that there is a materi31 mlsstatement of Ihls oiher inlormation, we are required to report that fact. We have nothln8 to report in this re8ard. Matter5 on whlch we ar• requlr•d to report by Èmteptlon We have nothlng lo report In respect of the follDwln8 rralters in relation to whlch the Charlties (Accounts and Reportsl Regulatlons 2008 requbre us to report lo you if, in 04Jr oplnlon.. the inlormatlon 8fven In the Iru5tees' report15 Inconslstent Sn any rnaterlal respect wlth the Ilnanclal slalements,. or 5ufflcient accountln8 records have not been kèpt. or the flnancial statements are not In agreemeni wllh ihe accountlng records and returns,. or we have not received all the infomiatlon and explanatlon5 we require for our audit. Re5ponslbllltle$ of trustees As explalned more fully In the trustees, responslbllltles Statement set out on page 7 the trustees are responslble for the preparation of the flnanclal statements and fcir beln8 satlslled that Ihey glve a true and falr vlew, and for such internal control as the trustee5 determinels necessary to enable the preparatlon of financlal statements that are free from material misstatement, whether due to fraud or efror. In preparln8 the Ilnanclal statements, the trustees are responslble for assesslng the charltws ablllty to contlnue a5 a golng concern, dls¢losln8, as appllcable, matters related to goln8 concern and uslng the goln8 concern basls of accounting unless the trustees either Intend to liquidate the charlty or to cease opeiations, or have no reallstlc alternatlve but to do so. Audltor's re5pon51billtles lor the audlt ol the fTrnan¢ial Statements We have been appointed as auditor under sectlon 145 01 the Charlties Act 2011 and report in accordance wllh the Act and relevant regulatlons made or havlng effect thereunder. Oyr objectives are to obtain reas¢nable assurance about whether the flnanclal statements as a whole are free from material misstaternenl, whether due to fraud or error, and lo Issue an auditorf5 report that includes our oplnion. Reasonable assurance is a hh level of assurance, but Is not a guarantee that an audlt conducted In accordance with ISAS IUKI will aayS delect a material misstatement when It exlsts. Misstatements can ar15e frorn fraud or error and are consSdered materlal If, Indbvldually or in the a88re8ale, they could reasollably be expected to influence the economic decisions of users taken on the basls ol these flnancial statements. The extent to which our procedtsre5 are capable of detecting irregularities, including fraud 15 detailed below: al Enquiry of managemènt to identify any instances of non-cornpliance with law5 and re8ulation5', checking all Statutory submissions have been submitted on time and are complete includln8 those for The Charlty Commission bl Enqulry of management wlth regards to actual and potentlal litigatlon and clalms.
Report of The Independent Audltors to the Trustees of Srl Guru Sin8h Sabha Gurdwar cl - Performln8 audit work over the rlsk of mana8ement overrode of controls. Includln8 testln8 of journal entrles ?nd other adjustments for appropriatene55. and revlewlng accounting estimates for evldence of management blas. dl Reviewing dist105ures In the finanual statements and testlng to Supportlng documentatlon to asse5S compliance wlth applicable laws and re8ulations. el Che¢kin8 existence and continued use of flxed assets: ¢heckln8 calculatlons of depreclatlon; and checkln8 falr ¥aluatlon of assets. Because of the Inherent Ilrnltatlons of an audlt, therè Is a rlsk that we wlll not detect all Irregularltles, Includlng those leadln8 to a material m155tatement In the flnanclal staternents, or no-compll3nce wlth re8ulatlon. Thls rlsk Incrèases the mort that compllance wlth a law or re8ulatlon Is rem¢ved from the events and transactlons reflected In the Ilnanclal statements, as we wlll be less Ilkely to become aware of Inslance of non.cornpllance. The risk is also greater re8ardin8 irre8vIarle5 occurrlng due to fraud ratherthan error, as fraud Invofves Intentlonal concealment, for8ery. colluslon. omission or mb5repre5entation. A further descrlpth)n of our responslbllttles for the audlt of the Ilnonclal statements Is located on the FinaThclal Reportlng CoLJncII's webs* at.. htt www.fr orsre les. Thls descrlpllon forms part of our udltor's report. Use olour report Thls report15 made 501ely to the charltV5 trustees, a5 a body, In actt)rdan¢e wllh Part 4 of the Charltles IAccounts and Reports) Regulatlons 2008. Our audit work has been undertaken so that we mlght state to the charltvs trustees those matters we are required to slate to them In an auditorfs report and for no other purpose. To the fullest eKtent permitted by law, we do not accept or assume responsibility to anyone other than the tharity and the charity's trustees as a bo, for our audlt work, for thls report, or for the opSnlons we he fom)ed. Buslness Led8er Llmlted Chartered Certlfled Accountants Statutory Auditor 3 Waterslde Drlve Langley, Berkshlre SL3 6EZ Buslnes5 Ledger Llmited15 eli8ible for appointment as audltor of the charlty by vlrtue of Its ell8iblllty for appointment as auditor of a company under sertion 1212 of the Companles Act 2006.
SRI GURU NG SA8HAGURDWARA 5fAIEMEPOF FINANCIALAl¥lTIES forthe year eThd1 JI MBrch 2024 14ote Total Funds 2023 fjonerol Fund INCOME ind ENDQWMENrs Donatl¢n$ ond letades Investrnent income 921,949 190.487 1.113A36 137,035 162,470 299,454 TOTAL IIICOME EXPENDITURE Char1t8b artlvlt5es Other TOTAL EXPENDITURE 119.1 IOL579 220,735 141.182 52,234 193,515 Net Galns on Investment$ 9x1.528 INCOMVIÉXPEPIDITUREI 1,86J,229 105.939 RECONCILIATION OF FUNDS Total luThds brou8htfory4ord 2.625,124 2.519,18S T•lo1 Funds c¥rrted fopw4 4A88J53 2,625,124 io
SRI Gilliu SINGII 5ABHAGURDWARA BALANCESHEEfATII MAACH 2014 Note Total Funds 2023 Gener•1 Fund FIXEDAS5Efs Tangle a55ets Investments Torolfl¥edossets li 4470,197 5.696.916 .167.113 251,221 2,726,388 2,977.609 li CURRENT ASSErs Debtors and prepayments Qsh at b•nk and In h•id Toiolcurreftr ¢¥uets 13 749,876 751,522 654,019 654,019 UABILITIES edltor5.' Arnounts fallin4 due withln onèyéar 14 113,2831 146,0861 NEf CUAAENfASSErs 738,240 607,933 TOTAL A55Ef5 LESS CURRENf LIAeiuTIES 1905,353 3,585,542 Credltors.. Arnot5 fallln8 due •ftef more than one ye8r 15 14A17.0001 1960.4181 TOYAL Nfr Assm 4853 2,625,124 FUIJOS Llnr•strlc¢ed fund5 17 2.615,124 TOTAL FUNDS 2 625 124 TheflTranclal siaternents were appryJved by the 8oard of Trustee5 On................. né were $18ned on Its behilf by.. Haran Raj Sln¥h Glll Trustee Vlnlnder Sin¥h 8alwa Treasurer li
SRI GURU SINGM 5ABHA GURDWAIiA Note5 to the FlnaThclal Statements forthe year endod 31 Mar£h ZOZ4 ACCOUNTING POLICIES 8a51$ otpreparlns the tlnandal $taiement$ The financial 5tatement5 ol the rhariiy. which Is a publlc benefit entity under FRS102, hawe been prepared In accordance with rhe ChJritie5 SOBP IFRS1021 'Accounting and Reportin8 by Charitle5'. Statemont of Recommended Praciice applicable 10 charltles prepafing thelr accounts In accordznce with the Financial Reportin8 StHndai'd applicable in the UK and Republic ol Ireland IFRS1021 leFFectivé l January 20191,, Financial Reporting Standard 102 'The Financial ReportiiiE Standard applicable in the UK and Republlc ol Ireland. and the Charitie5 Act 2011. The Ilnancial staremenis have been Pfepared under rhe hlstorlcal cost ctsnvention. The trusites con55dei thèt there are no m8terial uncertaintie5 obout the Charity's ability 10 cgnrinue Is a 605ng concern. Fund5 The charity has two unrestricted income funds. one for 8eneral fund and the other for the sporr5 centre. Unresirlcted Income funds comprlse ihese funds whlch the trustees are free to use for any purpose In furrherance ol rhe charltèble objecis. In rosrricted lund5 include designaiod funds where the triisieps, have Set aside resources lor a sper.ific purpose. Ibrome All i1)clie 15 recognlsed In Stalement ol Flnanc5al Actlvltle5 once the Charity ha5 entiilerDent to the funds, it is probable th31 the Income wlll be recelved and the amount can be rneasured reliablv. Expendlture Llabllilies are reco8n15ed as expenditure as soon 35 Ihere Is a le8al oi constru£tlve obll6ailon cominitiin8 the charlly lo that expendltvre, It 15 probable that o Iran51er ol econcrnic benefits wlll be requlred In Settlement and the amount of the obll8allon can be measured reliably. Expendlture15 accounted for Expend5ture Is accounted foron an accruals basis and has been cla55111ed under headlng5 thar a8gregato all costs relaied to the tate80ry. Irrecov•rable VAT Irrecoverable VAT 15 charged a6alnst the cate80ry of expendlture for whlch11 was Incurred. AIIoc•iion of erhead and 5UPPOrt r05ts Support C0515 Include adminisirztive ollice lun£lions are allocated to the èctfvlly cost categori& on basis consistent wlth the use of ie50urre5. The Sports Centre has Its dlrect costs allocated. Ihere bein8 no allocation ol general overhead$ 85 the Sport5 Hall dges not recover Its direct expenditure. Costs of generBtln8 furbd5 Costs of 8eneratlng fund5 are Ihose costs incurred In attrocting Vnluntèry income, or incurred in trading activilie5 undertaken lo raise lund5. Chailtable actlvllles Charilèble expenditure tompTise5 thosecosts 5ncurred by the charlty In the dellvery ol it5 activities for it5 beryeliciariés. It includes both direct pay and non-pay r.osts and support costs relaiing to those 12
SIII GURU 51NGH SABMAGURDWARA NtrtE5to the Flnonrlil Si•¢em¢nts Ivrthp y•ar ended 31 Marth 2024 Governance costs fjovernancecosts Indude those costs assocla¢ed wlth meetlng the constitut5onal and statutory ulrement5 of the charlty, Ind Indude it5 ouditfee5 and other slmllar costs of the ch4rity IrKludln8 trustee expEn5es. Tallble •gsets and dèprec5wtlo All •uers costin8 more than El,CIJO èfe caphallsed and at hl$torlc cost. Fl¥ed a55ets ire stated at C05t less accumulated d•preci•tlon and any impalmient. The long term le85ehold property is written over ihe lease term. Depwlatlon Is prOded •t the followlnl •nnu•l r•ie$ In orderwrlteoff ihecosi le55 estSm4ted re51dual value ol each asset over Its estlmated useful Ille. Plant, machlneryi Ilxture5 and littin15 25% on redudn8 balance ID¥¢rtm¢nt prop•rtv Investment property 1$ shown 01 most recent ¥alu•tlon. Any movement is ¥llocated to its related fund. 2024 2023 DONAnONSANO LEGACIES (knnations Glft Aid 8uildin8 donatlons 221,193 12.789 688,966 922,949 126,723 10,311 137M35 INVESTME1 INCOME B•nk Interest Inve51rnent property rental Income 3,162 187,325 19),487 162 420 162,420 CHAAITAOLE AcnviTIES Worshlp cost5 Food Qonations 39,754 4.302 15 17,363 24,842 8.546 24.lfpj 119,156 43.933 2.210 10,355 17,038 3&211 16.172 13,363 141,282 Property rnèlntenance Inveltrnent property fees Charlty runnini tosts 13
SRI GURU S114GH SABHA GURDWARA Notesto the Flnandal Statemenrs torthe arended 31 March 2024 2024 2023 OTHER COSTS Le8al and profe551onal costs Audltors remuneratSon Depre£latlon Interest 5,370 3.600 3A83 94,571 I1579 4,Q97 42,767 52,234 NET GAINS ON INVESTMENTS Galn on revaluatlon 970,528 10 STAFF COSTS Freelance Iwor5hlp cos151 Wages and salarSes Employers soc141 se¢urltYCOSlS Penglon costs 22ffj55 I644 520 35 J9.754 18,256 25.677 43,933 The aveiaie monthly numberof employees durlni the yeèrwas as follows.. No employee recelves total employment benellts ol more than £60.Q)O No trustees or the commlttee have rtcelved •ny remuneratlon orother benelSts or e*pen$es from theeh•rlty 14
SRI GURU SINGH SAUHA 6VRDWABA Notes to the FIDan¢lalStstemen forthe ypar ¢nd¢d 31 M•rth 2024 11 TANGIBLE AXED ASSErs Freehold land & bulldings Plani & equipment Other Totsl C05TOR VALUATION At l Aprll 2023 Additions At 31 March 2024 228.OC(I 4,219.469 4,447,469 73,461 90,219 2.610 92.829 391.680 4,222A59 4,614.139 73.841 DEPRECIATION AND IMPAIAMENTS At l Aprll Z023 Depretiotion At 31 March 2024 59.747 2.057 80,712 1.426 140A59 3.4BJ 14J,942 NEfeooK VALUE Ai 31 March 2024 At 31 M•r¢h 2023 4,447,469 228,OC 12.037 13,714 10,691 9,507 4N70,197 151,2ZI Kitchen equlpment Motor ¥ehlcles Inv. Property plant & equlpmeni Other Tot•1 COST OR VAiUAnoN At l 4*rll 2023 $8,684 2,610 61,294 11.328 20,207 90.219 At 31 Mirth 2024 11.328 92.829 OEPAECIATION AND IMPAIRMENrs At l Aprll 2023 fieprecl4tl¢)n At 31 March 2024 52,024 999 53.023 11.327 17,361 80,712 NEf BOOK VALUE At 31 March 2024 At 31 Mareh Z023 6,660 2,846 9.507 -The hlsrork cost of 30A Cumberland Road, where the prent day Gurdwara is situated was £26.CIIO when Pr£hased in 1976. Thls cost has neverbeen recorded In thefln•nclèl siatements of the Gurthvara. - Thecost of £228,OCiI shown under the Freehold land and bulldin8s includes amount £196,916 whlch represents the land held In Trusi for fjurdwara by three members of thecon8re8atlon & £31.084for professional lees for the new site. - The add5tSon of £4,219,469 Includes É1thS.878 profe5slonal fees pald durlryd theyearfor the newGurdwara slre in WokinBham. It is planned that thefjurdwara will move ro Ihe new premlse5 in 2025. 15
SRI GURU SINGH SABHA GURDWARA Ne$ to the Flnan¢lal Statements for the year ended JI M•r¢h 2024 12 INVESTMENTPROPERTY VALUATION At l April 2023 Revaluailon durln8the year Al 31 March 2024 2,716,388 970,528 3,696,916 The Trustees and the Executive Commlttee conslderthere ha5 been slgnlficant movement In the market value ol the Investment woperty based on rental ylelds and have revalued the propertle$ sn Ilne wlth the valuaticn provided by Haslams Chartered Valuers In 2023. 2024 2023 13 DEBTORS Gift Ald payment due 1,646 14 CREDITORS.. AMOVNTS FALLING DVE IMTHIN ONE YEAR Bank loans and overdralts15ecuredl Tenant deposll & prepaymen¢ Other credltors 33,55Q 8,092 4,444 46.086 8,092 5,191 13,283 15 CREDITORS.. AMOUNTS FALLING DUE AFfEft MORE THAN ONE YEAH Loans Irom congregatlon Imembefs) 8ank loan515e¢uredl 1,629,0ty) 1,788,000 4,417,000 196,ffl0 764,418 960,418 A surn of £196,000 Includes the loan$ from three members ol congre88tlon forthe land held In Trust for the Gurdwara, 16 SECURED BANK LOANS Repayable wlthln one year Rep8yaNe afrer one year and wlthln fl¥eyears 33,550 764,418 797,968 278,800 Bank loan wlth Handlesbanken of E2,788,LW Ss Secured by a legol chgr8e over rhe charity's Freehold Instment Property. The loan 15 Inieresi onl¥ untll Aprll 2028. Loan amortisation will be8in afterApril 2028, 17 SUMMARY OF FUND MOVEMENT General Fund Total Funds Balance at l Aprll 2023 Income Expendltufe Wei GaSns on Investments Balance at 31 March 2024 2,625.124 1,113.436 1220,7351 970,528 4,488,353 2,6Z5.124 1,113,436 1220.7351 970,528 4,488,353 16
SRI 6UAU SINGH SABHAf4URDWARA Notes tofh• Flnanthl Stai•ments lorthe Yearnd 31 Marth 2024 I# SUP•llAY OFASSETS 8Y FUND General Fund Y•tsl Funds Tanulblefixed assets Investrnent Propertv CurrentAsset5 LlobSlltOes Amounts falllni In one year B•l•nc• it31 M•reh 2024 4,470,197 3,696,916 751,522 113.2831 14M17,CIKII 4,488,353 4,470.197 J.696.916 751,521 I281) 14A17,OI 4,488.353 19 RELATED PARIY There are no related party transactions between the thbrfty an¢J the trustets or the fflanailn8<omrnittie other than the Trv5t relatlni to ownershlp ol l•nd. 17
SRI GURU 51NGH SAOHA GURDWARA Detalled Income and Expendllure forthe sarended 31 Marth ZOZ4 Total 1023 Fund InmI Donatlons 215,135 12,789 688.966 6,Q59 922,949 126,723 10,312 Grft Donatlons lor bulldln8 Ixher 137,035 Investment property Income -G8ln on revaluaiion 187,325 970,528 3,162 2.083,964 161420 Totll Intom• 29Y 455 Empefidltyre Stèlf costs Freelancewor5hlpc05ts I dSrect C05t5 Food Donatlons 17.099 22,655 4.302 150 1,06S 16,298 515 11,649 2,565 24,842 $90 25,677 18,256 2,210 10,355 715 16,323 307 4,432 2,923 38,211 853 307 4.520 ftates Lliht & heat Telephone Insuranc? Vin expenses PrDperty malntenance cojis Cleanl Posta8e prlntln8 & statlon•ry Staff tralnln¥ Adverrlsln8 Investment property lees Accountancy •nd Leièl Le8al & profe551on31 Bank charyes Depreclatl¢)n Interest Tot•1 Expend11 307 8,546 3,600 1751 8,573 3.483 94,571 220,735 16,172 2,$20 2,850 21 4,097 42,767 193.516 Net Incom• 1.863.229 105,939 18