CHARITY REGISTRATION NUMBER: 271627 GURU NANAK GURDWARA ANNUAL REPORT AND FINANCIAL STATEMENTS 28 February 2025
GURU NANAK GURDWARA Flnanclal Statem•nts Year ended 28 February 2025 Page Trustees, annual report (Incorporatlng the directorfs report) Independent audltorfs report to the members Statement of financlal activities (Sncluding Income and expenditure account) statement of financial position Notes to the financial statements 10
GURU NANAK GURDWARA Trustees. Annual Report Yoar •nd•d 28 February 2025 R•feronco and admlnlstratlve d•tall8 Board of DlroctorslTruste Mr. Daljit Singh Birring Mr. Tejpartap Slngh Sahots Mr. Gl8n Singh R8jU Mr. Ats3hdeep Singh Mr. Harbhajan Slngh Sandher Mr. Deep Slngh Mr Palwinder Singh Mr. Gurb81 Slrbgh Mr. Gurblr Slngh Mr. Gagandèèp Kashyap Mr. Mukhpal Singh MT. Jasbir Slngh Mr. Makhan Singh Puar Mr. Beant Singh Grewal Mr. Amanpreet Singh Mr. Avtar Singh Mr. Santokh Slngh M8hal Mr. Jagtar Singh Ral Mr. Jugdeep Singh Mr. Balbir Singh Malhotra Mr. Guryeet Singh Malhotra Mr. Gopal Singh Ohaml Mrs. Mandeep Sangha Charlty r•gl•tratlon numb•r 271627 Reglst•rod offlcfr 2a Dallow Road Luton Bedfordshire LU1 1 LY Accountsnt Fasih Khan ACCA Suite 2 8 Crystal Hou8a New Bedford Road Lulon LU1 1HS Auditor K B M UK Llmil8d Chartered Certiried AUntantS & Statutory AudSlors 1 Concord 8u$ines8 Centre Conrd Road London UK W3 OTJ
GURU NANAK GURDWARA Truste6s' Annual Report (witlnu8dJ Year ended 28 February 2025 Hlsto Ob ectives and Actlvltles of the Charlt On Inc8ptiOD. it was boliev8d the Gohesion and logelherness of the memtrérs of the Slkh fath In Luton requlred addressing. Th6 charity began wlth an initial donation: bolh thg iniU81 donatSon and subs6qu8nl donations have begn under the term8 which allow th8 Iru81ee8 to ellher retaln the amounts as capital or to spend them. The obj6ctlvas of the charity includ8: al To bring together members of the Sikh community In Lulon for d8eperdlalogu• and ttiop$ralion bl To Increase understsnding 8nd trust within the SSkh community. bulldlng on common ground b$tsvgen them, yet respecting the uniqu9 conlribulion which each brlngs. cl To work towards greater soclal cohgslon and communlty Integratlon In LLrton. To provlde 8 place of wor8hlp for members of the local Slkh community Mana ement and Governance Arran ements Th8 constitution provides for a minimum of five Iruslees. Where there 18 a r8quirem¢nt for naw trustees, these would bo idenlrfied and appointed by the r8mainlng Irusle8s. subl9Ct lo approval by thts AGM. The chalrof the trustees Is responsible for the indijcllon of any new truslee, whSch involves awareness of 8 trustee's responsibilty, the governing document, administrative procedures, and the history and philosophical approach of the charlty. The Injstees have lak8n stOPS to identify mojor risks to which the charity is exposed and systems have been eslabllshed lo mltSgale those risks. The EXulve Committ88 has dlllgendy worked tr) ensure the seamless operation of the Charitvs dally acllvilles in allgnmenl wllh our mlssion and obSeclives. Key accompllshments dudng the year indude: al Installation and Renovatlon of tho Ngw Na5han Sahlb bl Car Park Renovation- Successfully enhanced 8afety, ae$lheti¢s, ¢apa¢lty, and implomented flood and gulter-proofing meosures, cl Inner Footings Concret8 Work.. Improved tho aeStheCs, minimised dlrt entry, enhanced safety, hygiene, and aecesslbllily wllhln the Gurdwara. dl New Sinks in the Langar Hall el Roll Machlne Ordered.. Awaillng delivery to strèamllno and enhanco thè offi¢i•n¢y of roti production. Two New Cleanlng Machlnes Ordered.. To ensure more effectiv8 cleanlng operations. gl New Securlty System Instslled h} CCTV System RaaulhorlzaUon'. Updated to enhance 88curlly by removing In8Ctlvè m6mber8. i) PDQ Machlne8 Ordered: In51alled In the Darbar Hall and Langar Hall, provldlng addltlonal Payment options and helping lo incre88e revenue. l) New Staffing Inltlatives.. On boarded 8lx new members into the we0kly staff rolalion,
GURU NANAK GURDWARA Trustees. Annual Report l¢ontlnu8rf1 Year •nded 28 February 2025 k} Con5tructlon of New Storage Rooms". E8tsbllshod for Improved dry storage solutlon$. l) General Buildlng R8palrs ml Hèalth and Safety ALbdil: Successfully completed. n) Compllance Cartl¢at9 Obtalned Future Plans a} Strengthen Coro Activltles.. Contlnu8 and bolstor the regular Inttlatlve8 th81 fomi tho foundaon of tho charity. bl Plannlng Pgrmisslon Application.. Pursue 8pprov81 for a 314 storey bulldlng designated for Communal usa and fiJn8ral f8cllitalion. c) Revenu9 Enh8ncomenl'. Encourag8 congregation memr$ to surport Ihe Gurdwara through dirèct deblt CK standlng ordèr donatlons. d) Community Engagement: Raise aw8reness of ourfBith by participatin9 In public events such as Nagar Kirtan and Melas. We are Committed lo furth8ring our misslon and Improving the experiences of our communty members while promoting the values of our charity. Financial review and reserves The net Income for the yaar was a gain of £193,383 {2024: £174.5981. Al the end of the flnancial year. the reserves of unreslricled fund$ were £4,623.49012024-. £4.430,1171. The adequ8cy of the reserves policy Is reviewed 8nnually. The trustees are satisfied that reseryes are presently more than 8dequate to meet future expenditures. The reserv pollcy Is to maintain suffluent réser¥e8 to en¥ure the daY-tdaY operatlon continues Into the fore8eeable future. No matters or circumstsnces have arisen since Ihe gnd of th8 financi81 year which 8igntficanUy affected or may slgnificantly affect the opgrations of the Gharity. the results of these operations or the state of affalrs of the chartly In the financial er subsequenl lo the flnanclal year endetl 28th Feknjary 2025. Statement of trustees, res onsibili Charity law requires the trustees to prepare the financial 51alemenls for each finanrial year, whi¢h Show 8 true and falr view of the stale of affalrs of the Charlty and its financial activllles for that year. In preparing those financial statements, the trustses are required to.. al Select suitable attountSng policles and then apply them con81St8ntly. bl Make judgments and eslimalgs that are reasonable and prudent, c) Stale whether applicable accountlng standards and slatemenls of recommended practice have been followed. subjeGt to any departures disclosed and explalned in the flnancial statements..
GURU NANAK GURDWARA Trustees, Annual Rèport ICI0nu•) Year ended 28 February 2025 d} Prepare the financl81 stat8ments on a golng-concern b8sI8 unle88 Is Inapproprlate to pr8sum8 that the charity will contlnua In opgrational existence. Thg trustees are responslble for kegplng proper accountSng racords which dlsclose with re8sonabl8 accuracy at any tim8 tha flnanclal positlon of the charity and lo gnable them lo ensure that the financlal ststomants comply with the Charfli•$ Act 2016. Thèy gra also responsible for 5afgguarding the assets of the chartty and hencè for taklng reasonable steps for the prevention and d8tecllon of fraud and othar IegulatI9S. Srgned on behalf of the trustees Mr. Harbhajan Singh Sandher- Trusteg Date of Signing: g /¥12os
GURU NANAK GURDWARA Independent Audltorfs Report to the Membgrs of GURU NANAK GURDWARA Year and 28 February 2025 Oplnlon We have audlted thè financlal statements of Guru N8nak Gurdwara {Ihe 'charWI for the Year endfjd 28 F•bruary 2025 whlch Kimpr188 the Ststemont of flnancl81 aoUv(ties {in¢luding income and expenditure account). stslement of financlal poskion and thg rglatod notes. including a summary of slgnrficant accounting policies. The finan¢ial reportlng framework that has been apr4i811 in their pr@P8r8tlon Is appllcable law and Unlt8d 'ngdoM A¢¢ountlng Standards, In¢ludlng FRS 102 Th8 Flnancial Reporting Standard appli¢oble In the UK and Republic of Ireland (United Kingdom Genorally Accepted Accounting Practlcel. In our oplnlon the financlal st8temgnts= give a tru$ and fair view of the slate of the charlty's aff81r$ 88 at 28 February 2025 and of incoming resourcès and appllcation of resources, Includlng Its incomè and expendlture, for the year then ended., have been properly propared in 8ccordanee wlth un0 Kingdom Génèrally Accepted Accountlng Practlce., have been prepared in accordance with thg roquiremonls of Ihg Compani88 Act 2006. Ba#1 for oplnlon Wo conducted our audit in awrdance with Inlarnational Stsndards on ALFdiling IUKI IISAS (UKI) and appli¢able law. Our responsibilitles under th088 stsndards ar6 further éesGrfbed in the audltorfs r8sponsibilrtl•s for the audit of th8 flnanclal 8tstemenls section of our r8port. We are indgpgnd8rit af th& ¢hadty In accordance with the ethSc81 requirements that 8r8 relevant to our audit of the financial statements in the UK. indudlng Ihe FRC'S Ethlcal Standard, and wg have fulfilled our other ethical responslbilltle5 in accordance wlth these requiremants. We believe that Ihe audit ovidence we have obtalned18 sufflcl&nt and 8pproprfale to provide a basls for our opinion. Concluslons relatlng to golng conGgrn In auditlng the finanGial statements, we have concluded that the Iru8tees' use of the golng conGeTn basis of a¢counllng In the preparation of the flnanoal ststements 18 appropriate. Based on the work we have performed. we have not IdenfI9{l any material uncertaSntios reloting to events or conditions that. individually or collectivèly, may cast signffic8nt doubl on the charitls ability to continue as a golng concern for a perlod of al least twelve month8 from when the flnanclal statements 8re authorised for i88U8. Our ro$ponslbllllies and the responsibllities of the Imstees wlth respect to golng conG&rn ara describ8d In the relevant $9clions of this r8port. EmphaS• of Matter A5 the charlty has not previously been subject to an exlemal audlt slnce Ils formallon In 1976. we p8rfomied addltlonal audit procedures on the openlng balancas lo obtsln suffiGSent and appropriate audr( evid8nce that they have been properly stated and do not conlaSn material mlsstatsmenls. During the course of our work Dn the oFenlng balances. we have iéentlhed 8 few dis¢repancies wth the carryng value of L8nd & Bulldlng and Charitable Funds. These identified issues have now beén satisfactorily resolved and adjusted in tho current year flnancSal statements a$ expl8lned in more detsils under nota 22. Our opSnSon is not qualified In this respect.
GURU NANAK GURDWARA Indepondont Audltorfs Report to the Members of Guru Nanak Gurdwara (amllnu Yoar •nd•d 28 Fobruary 2025 Othor Infomiallon The other irrforna1l ¢omprise8 the informaln included in tha annual report. other than the flnancial stslemonls and our auditor's report Ihor00n, Thè tNste88 are responsible for tha other Information. Our opinion on thè financlal statements do8s not cover the Other Informalion and. except to the extent otherwise expllcltly stated in our report. we do not expSS any form of assurance condusion thereon. In connèctlon with our audtt of the financlal ststémènts, our rèsponslblllty Is to read the other Infomiation and, in dolng so. conslder whether the other inforynation Is m81orlolly inconslstanl ¥th th8 flnancial statements or our knowledge obl8lned In the audit or otherwlsg appears lo be materfally misslaled. If we IdentSfy such material inGonsislencias or apparonl material mSsststemenls, we are requirod to deterynino whelh8r thère 18 8 materlal misstslomenl in the finanGial ststem8nts or a mat8rfal misststement of the other information. If, based on the work we h8V8 performgd, w• ¢onclLKlé that there Is a materlal misstatement of this othèr Inforn8tlon, we are reoulred lo report that fact. Wg hAVO nothing to roport In thls regard. Oplnlons on other matters prescrlbgd by tha Companles Act 2008 In our opinion, b8sed on th8 work undertaken in the cour80 of tho gudltr. the Infomiatlon given In the tfU$tees' report for the flnanclal year fof %thich thg flnanclal statements are prepar8d18 con818tent wllh tho finonclal statements- and the trustees, report has b88n prepared In acccKdance wlth applicable leg81 r•quirem¢nts. Matters on whl¢h wg arn r•qulrnd to roport by •*pl10n In the light of the knowledge and underslandlng of the charity and ils envlronmenl obtained In the cour8e of the audit, we have not identthed malerlal mlsstotements in th8 trustees, report. W8 have nothing lo report in re8pect of the follovlng matter8 in relation to whh tha Compani88 Acl 2006 requires us lo report lo you If, in our oplnlon: adequale accounting reGoTds have not been kept, or retums adequate for our audit have not been received from branGho8 not vlsiled by us- or the financial slat&ments are not In agreement the accounting recdS and retum8', or cert9Sn dIureS of tru$t8e8' r8munernllon specmed by law arg not made: or h8ve not re¢eived au the infomiation and explanatlons we requlre for our audlt,. or the trustees We not entlued to prepare the financial statements in accordance wlth th8 small companle8 reglme and lake advantage of the small companies, exemptions in preparlng the dire¢tors' rèport and from the requiremonl lo prepare 8 slrateglc repo
GURU NANAK GURDWARA Independent Audltor'8 Report to the Members of Guru Nanak Gurdwara (condnu•dJ Year ended 28 February 2025 Re8pon8lbllltlo8 of tru•tOOS AS explained more fully in the tru8t88s' responslbllltles statement. th8 trustees (who ar8 also the dlroGtors forthe purposes of company law) aro responsibl8 for the preparal¢on ofthg finanGial stslemenls and for being satisfièd that they glve a Irug and fair view. and for such Inlemal control as the tru$lé65 determlrse Is necessary lo enable the preparation of financial $tst¢ments that are free from material misstslgmenl, whother due lo fraud or error. In proparlng th8 finandal statements, tho tru8tees are responsible for as$gssing thé charlty's ability lo onlinue as a golng concern, dlsclosing, a$ applicable, matters related to going concern and using the )Ing concern basis of accounting unless the trustees erth9r int&nd to Ilquid8te the charity or to Cease operations. or havo no reallstSc altgmoliv8 bLrt lo do 80. AudltoV$ rasponslbllltle$ for tho •udlt of tho flnanclal statsmont* Our oblecliv8s are to obtsln r88sonable assurance 8bout whelhor the ffinana81 statements as o wholg are free from malerfal mlsstatement, whether due to fraud or error, and to 13$uo an auditor's report that Includes our opinion. Reasonable assurance is a high18val of assurance. but is not a guarantéé that an audit oondu¢t•d in accordance with ISAS (UK) wlll always delect a material misstatement when It exL8ts. Mis8ts1emenl$ can ari8a from fraud or error and ara wnsidered materfal If, IndSvidually or in the Jgwg8le, they could reasonably be expected lo Influer thè economic decislons of users tskgn on the basls of these fin8nclal ststements. Irregularlties, induding fraud, are inslanc8s of non-compllance w6th laws and regulations. We deslgn procedures In Ilne wth our r8sponslbllrtlgS. QUtlln8d above, to detect malerfal misststements in respect of Irregularit19s, IndLsding Iraud. The extenl lo which our procedures are capable of d•teeling Irregularftle8, Includlng fraud is delailed below.. The engagement partner ensured that they engagement team Golle¢tively had the appropriate compelence, Gapabillties and 8ki15s to identify cf regnISe nmplIanCe with applicable laws and regulallons., We idenlifie(I the laws and regulo1ion$ appllcable lo the charitable company Ihrough di$¢u$81on wllh TNsle88 and other m8nag8menl 8nd revl8w of 8pproprfate Industry knowledge. We assessed the extant of coMph'are with laws and regulations Id8nlffled above through making enquir1è8 of management and reviewing all relevant corre8pondenc8. As p8rt of an audlt in accordanco wth ISA8 {UKI, we exercLsa profgs5ional judgment and maintain pTofes8lonal s¢epli¢ism throughout the audit. Wè also.. Identrfy and assess the risks of molerial misststemenl uf the flnancial statements. whether due to fraud or error. design and perform audit procedures r8spon8lve lo those risks. and obtain audit evidence th81 Is $uffiGienl and approprialo lo provide a basis for our oplnion. The risk of not detecting a material mlsslaternenl resulung from fraud is higher than for on8 re$ult6ng from error, as fraud may Involve Gollusion, forgery, intentional omi$sions, mlsr8presentatDns, or Ihe overridè of intemal control. Obtsln an und8r8landlng of internal control relevant to the audit in order lo design audSt procedures that ar8 appropriate in the CITcuMstsnG. bul not for the Purpose of expressing an ¢¥JinKJn on the effedivene5s of the internal control. Evaluate the 8ppropri8ten888 of aGGounting poli¢608 U8ed and the reasonablene86 of a¢¢ountlng eslimales and related disclosures made by the trus18es.
GURU NANAK GURDWARA Independent Audltor's Réport to the Members of Guru Nanak Gurdwara i¢ontlnu8dJ Year •nded 28 February 2025 Conclud8 on the appropriatenoss of the Iruslees, use of the golng conGorn ba$ of accounllng and, based on the audit evidence obtain8d, whethèr 8 matérial uncertainly exlsls related to ev8nts or conditions that may cast Slgnilicant doubt on th8 ch8rity'S 8bility to continue as a golng concem. If we ¢onclude that a m8t8rial uncertalnty exists, we are requSred lo drow attention In our audllorfs report to thg rglatgj dlsclosures In Ihg flnanGial statements or. rf such dlsch)sures are inadequate, to modlfy our oplnlon. Our concluslons arg based on Ihg audit evidence obtained up to the dale ol our auditor's rep)rt. However, luture events or conditions may cause thg charity to ce88e to continue as a going conc8m. Evalu8te the overall presentation, structure and content of the fSnanclal slalements. induding the dSsclosure$, and whether the flnancl81 stalam8nts ropr8sgntth8 und6rtylng transactlons and evgnts In a manner that achigv9s fair presentaUon. We communl¢ate wllh those char9e(I wlth governance r8gardlng, among olhgr mattors, the planned SCOP8 and Ilmlng of the audit and signlficant audit findlngs, including any signtricant deflciencies in inlarnal control that we identify durlng our audit. Ule of our roport This report is madè Solely to the charrtvs members. as a body, In accordance wllh Chapter 3 of Part 16 of the Companies Act 2006. Our 8LJdit work has been undertaken so Ihot we might slats lo the charitys members those matters we are requir to state to them In an audltorfs report and for no other purpose. To tho fullèst Oxlanl permllted by law, we do nol ace¢pl or assume responsibility to anyong Qther Ih8n the charkty and the charitvs members as a body. foi our audit work, for this report, or for the opinrons w¢ have formed. Mr. Mohammed Afzaal Bhatti (Senior Statutory Auditor) FCCA For and on behalf of KBM UK LTD 1 ConGord Businèss C8ntre Concord Road London VK W3 OTJ 0610212026
GURU NANAK GURDWARA Statsment of Flnanclal Actlvltle8 (Includlng income and expenditure account) Year ended 28 February 2025 2025 2024- Restatèd Unreslrlcted fund8 Restricted fuThY8 Total fund• Totsl funds Income and endowment8 DOnaOn8 Other tradlng acUvlUe8 HMRC Grft Aid Other income 357,293 37.481 70,887 974 357,293 37,481 70,887 974 353,048 14,396 970 1,030 369,444 Total Incpmg 466,635 466,63S Exp•ndlture Expendilure on raising funds-. Costs of raislng donations Costs of other trading acllvltles Exp8ndlture on thaiitable act4vilies T¢)tsl expendlture 2,270 192,576 192.576 9,10 273,252 273.252 273.252 273,252 Net Incomel(exwndlluro1 193,383 193,383 174,598 Reconclliation of funds Total funds brought forward- restatod 22 4.430,107 Total funds carrled forward 4,623,490 4430.107 4623A90 4,255,509 4.430,107 The statement of financial activlties Indudes all gains and103ses recognlsed in the year. All income and expenditure def6ve from contlnulng acilvlll88. Th• not on Pag 10 to 19 form part ofth•o• flnanclal 8tat•m•nts.
GURU NANAK GURDWARA Statement of Flnanclal Posltlon 28 February 2025 2024 - r681alad 2025 Not• Flxed a898ts Tangibl8 flxed a888ts 16 5.184.091 5.013.869 Current a888t8 Cash at bank and In hand 202.789 202.455 Cr•dltor8: amounts falllng du• wlthln ono y•ar Not current ass•l8 108,725 97,543 94,064 104,912 5,118,581 Total asset$ l•vJ current Ilabllltl•• 5,278,155 Cr•dltor8: amounts falllng du• aft•r mor• than ona y•ar Nat ass•ts 19 654,665 888,474 4.623,490 4,430,107 Funds of the charlty UnroStrict8d fvnd$ 4,623,490 4,430,107 4,430,107 Total ¢harlty fund$ 21 4,623,49) These financial ststements were approved by the board of trustees and 8Uthorised for issue on , and 8re Signed on behalf of lh6 l>oard by. Mr. Harbhajan Singh Sandher Trustee Th• not•• on page• 10 tt* 19 fomi part ¢fthgw flnan¢l•l •tst•m•nts.
GURU NANAK GURDWARA Notes to the Flnanclal Statements Year 8nd8d 28 February 2025 G•n•ral Infom)atlon The charlty Is a publlc benefll entity and operates as an unlncorporatÈd ¢hadtablè trust. reglsl8red as a charhy In England and W8188. Tha address of the principal office Is 28 Dallow Road, Lulon. LU11LY. Statsm8nt of compllanco These flnanclal statements have beèn prepared In compllan(* wlth FRS 102, The FlnanGial Reporting St8ndard appllcable In the UK and the Rèpubllc of Ir61and', the Stat8menl of Recommended Practlc8 applicable to charfties piep8ring thair a¢LKJunts in acwrdance wllh th8 Financlal Reportlng Standard applicabl8 in Ihg UK and Republlc of Ireland IFRS 1021 {Charities SORP (FRS 10211 and the Companies Act 2006. AccountSng pollclo• Ba•1• of pr•p4r•tlon The finan¢lal ststements have beén prepared on the hlstorlcal cost basis, as modffled by the revaluation of certain financl81 assets and li8blllt58s and Investment propertl8s me88ured at falr value Shrough income or expenditure. The financial statem8nts are pr8pared in sterling, whioh is tho fvnctlon81 curency of the enty. Golng conrn There are no malerlal uncgrtolnlies atliut the charfty's ablllty to continug. Fund accountlng Unrestflcled funds are availaNe for u88 at the d5screon of th9 tfustèès to further any of Ihe charills purp)8es. Designated fund8 are unrestrfdgd fund$ 08miarf(ed by the trustees for partlcular futur8 project or ommitmenl. Restrfcled funds are subjeGted to restrfdons on their expenditure declarad by the donor or through the lemis of an appeal, and fall into one of two subryclasses.. reslrlcted income fvnds or endowment fvnd8.
GURU NANAK GURDWARA Notes to the Flnancial Statements (contlnue Year onded 28 February 2025 counting poli¢itr8 (¢w•URu•dJ Incomlng resoure Al Incomlng résourc•s are included in the statement of financial activiles when entllament has passed lo the charity,. il 18 probable that the economic ben8fi13 associated %Mth the tr8nsactlon wlll Ilow lo the charhy and the amount Can be rgllably measured. The folln9 spe¢lfic pollcSos are applied to particular categories of InGomg- income from donatlons or grants is recDgnise(I whan there is evidence of enutlemenl lo the gfft, re&8ipl Is probable and amount can be measured reliably. lagacy Income is r8cognised when recelpt Is probable and entlllement is establlshed. Income from donated goods Is measurod at tro folr v8lu8 of the goods un18S8 Ihls 18 Impr8Ctlcal to measure reliably. in lch case the value L8 derfved from th6 cost lo the donor or the estsmated resalg valuè. Donatsd facilillos and séNc8s ara rè¢ognisad in thè accounts when recelved if the value can bg reliably mga$urgd. No amounts ar& included for the ¢onlribution of general volunteers. Income frc*rt Contracts for the 8upply of SO¢e8 68 recognl8ed wlth the dellvery of the contracted service. Thls Is clas$ifkd as unrestricted funds unless thér8 1$ a conlrACtual requiremanl for tt lo be spent on a partlcular purpose and retumed W unspenL In whlch cas8 it may be regarded as restrfcled. R•8ourcg8 pend9d Expenditur8 1$ rocogni$ed on an accruals basi8 a8 a liability is incutTed. EXpendure includ08 any VAT which cannot be fully recovered, and Is classlfied under h&adSngs of th8 8tatemenl offinandal actlvilies lo which11 relates.. expgnditure on raislng funds includ88 the costs of all fundraising activities, events. non- charitable trading aGtivitio$, and th6 sale of donated good$. expenditure on charltable acllvlti8s Include8 all costs incurred by a charity in undertaklng aclfvllles that furth8r Its Gharitable aims for the b8neff( of its beneficiarfe8, Includlng th08e support costs and costs relating to the govfjmanGe of the tharity ak4)Ortioned to charitable a¢llvities. other expenditur8 includes an exponditure that Is n81ther related lo ralsing funds for the charfty nor part of Its oxpenditure on charilable acllvllie8. I costs ar8 allocal8d to expendltvre calegorle8 r&fl8ctlng the use of the resource. Direct costs attdbutable lo a slngle actlvlly are allocatsd directly to that 8cllvlty. Shared costs are appoOned betsn the acUwtle8 they conlribule to on a reasonabl8, justifiable and Gonsistenl basis.
GURU NANAK GURDWARA Notes to the Flnanclal Statements (COnlIn) Year ended 28 February 2025 Accountlng poll¢le• Iwrtlnu•d) Tanglbl• as¥•ts Tangible assets are initlally recorded at cost, and $ub$equenUy stsled al cosl18ss any a¢¢umulaled d8pr8ci8ilon and impaimiont losses. Any tangible assets carried at revalu amounts are recorded at thé fair valua at the date of rav8lLTration less any sub8equent auMulated depreclallon and subsequent a¢cumulated impalrment losse3. An Increase In the carrylng amount of an asset as a result of a revalu8tbn. Is recognised In other racognisèd gains and losses, unloss it reverses a charge for Impaimient that ha5 previousty been racognised as expenditure within the statemenl of finanaal adivitlès. A decr8a88 in the ¢8rying 8mount of an asset 8s a result of revaluation, is recognlsed in other recogni5od gains and1088es, except lo which il offsots any previous revaluation gain, in which case the loss Is shown wlthln other recognlsed ualns 8nd10$888 on the statement of flnondal Bctlvrtles. D•proGl•tlon DepreciatSon is calculated so as to wrlle off the cost or valuation of 8n a88et, less its reshJu81 value, OVgT tho useful ¢¢onomlc lrfe of that a$$èl 8$ follow8: Fixture and Flttlngs Freghok5 8uiidlng 180h reducing balance 11x1 Years Slraljht Ilne Impalmi•nt of flxgd ass•ts A rewew for indicatorn of imp8iment i¥ rAthed out at 88ch reporting dale. with th8 recoverable amount being 88timaled where such Indicators exist. Where the carrying value exceeds the iecoverable gmount, the asset Ss Impaired a¢¢ordingly. Prlor Impairments are also rgviewed for posslble reversal at 8a¢h reportlng date. For the purposes of Impalrment lestlng, when 1118 not PO881ble to estimate tha ro¢overatAe amount of an Indlvidu81 asset, an estimate is made of the recoverable amount of the cash-generallng unit to which the asset belongs. The cash4Jen8rating unit 1$ the smallest identifiable group of assets that includ88 the asset and ggnarales cash Infiows that largely indep6nd8nt of the cash inflo from other assets or groups of assets. For impalrmenl testlng of g¢)odwill, tho good11 acquired In a business comblnallon Is, from the uisition date, allocated lo each of the cash¥enerallng units that arg expected to benefit from the synergies of the combinatlon, irrespective of wh6ther other assets or Ilabillties of the Gharfty are assigned lo those unlts. Government grant• Govemment grant$ are r8cognlsed at the fair value of the asset r8celved or receivable. Grants are not recognised until there is reagonable a8suranc8 that the charity will comply wlth the Gondition8 8ttachlng to them and the grants wlll b8 recelved. Where the grant doès not Imp08e specffled fvture pèrform8nce-relaled condillons on the racip18nt, 11 Is recognlsed in income when the grant prC8 are received or receivable. Where the grant does Impose ¥pecth8d future performancè-related condltions on the roGlent. it is recognlsed In Income only when the p8rformance-related condillons have been met. Wh8r8 grants receivod are prior lo Satisfylng the revenue recognition crtterla. they are recognised 8$ a Ilablllty.
GURU NANAK GURDWARA Noles to the Flnanclal Statements (¢ontthu•dJ Year ended 28 February 2025 counting pollcl•s (eontlnu8dJ Flnanclal In8trumont• A financlal asset or a finaneial Ilabilty Is récognisèd only whèn thè eharty bècomes o party lo the contractual provislons of the Instrument. Baslc flnanclal In8tfuments are Inltially recognised al the amount recefvable or payabl8 indudlng any relatèd trxn8act•Jn costs. Current as$gls and current liabilitles are 8ubsequènlly measured atthe cash or othar conslderatlon expected lo be pai(1 or received arKI not discounted. Debt instruments aro 8ub8aquently me88ured at 8morUsed cost. Where inv8Stment8 in shares are publicly traded or their fair value can olharwiso be m•asursd reliably, tho inv6slment Is 8ubsequenUy measvred at fair v8lu9 With changos in fair value recognisad in income and expandlture. Al other such Inve8tm8nls are subsequently measured at cost less Impalmient. Other financial inslrum8nts, Includlng derlvatlves, are inllially recognised at fair value, unless paymonl for gn asset is deforred bayond nomal business 16ms or financed at a rale of interest that is not a market rate, in which Case thé asset is measurèd gt the present value of the future paymènts discounlad at 8 market rale of inl8rest for a Similar debt instrument. Otherfinancial Inslrumenl8 are subsequently measured al fair value, with any ¢hang8s recognisgd in the slatem9nl of financial actlvlties, with the exceptlon of hedging instruments in a designated hedging rèlAtionship. Financlal assels that aro measured al co81 or amorU88d cosl are reviewed for obleclive 8vidence of Smpalrmenl al the end of eaGh reporting date. If there is objective èvidence of impaimenl, an impaimenl Ioss is Tecognlsed under the appropriate heading in the slalemenl of financial activities In whieh the inlti8198in was recogn13ed. For all gquity instruments regardless of signlficance, and other finan81 a88ets that are indNidually significant. these are assessed individually for Imp8im)enl. Other financlal a858ts are either assessed individually or grouped on the basis of Simllar credit risk char8cterfsti¢s. Any reversals of impaimenl 8re recognised Immedlatety, to the exlent that the reversal does not result In a carrylng amount of the financial asset that exceeds what the Carrng amount would have been had the Impalrment not prevlously been recognlsed. Don•tions and l•gacie% Unrgstrirled Funds Restricted Total Funds Funds 2025 Donatlons Donations DonalbJns- Gift Ald 357.293 70,887 428.180 357,293 70,887 428.180
GURU NANAK GURDWARA Notes to the Flnanclal Statement8 {Gonllnu•d) Year ended 28 F•bruary 2025 Donatlons and l•gacl•s (eonlthu8d) Unreslrlcted Funds R8slrict8d Total Fund$ Fund8 2024 Donatk+n• Donatlons Donations - Grft Aid 353,048 970 353,048 970 354,018 354.018 Other tradlng actlvltle• Unre81rfcted Total Funds Unr08tricled Total Funds Fund8 2025 Funds 2024 Parklng Incomg 37,481 37,481 14,396 14,396 Inv¢•tmonl In¢om• Unrestrlcted Total Funds Unmslrictèd Total Funds Fund8 2025 Funds 2024 Income from cash Inve8kn8nts 974 974 1,030 1,030 Costs of oth•T trndlng •Ctivlll•• Unrestricted Total Funds Unrestrlctsd Total Fund& Fund8 2025 Funds 2024 Cost$ of Parking Tradg 2,270 2,270 Costs of ral¥lng donatlon8 Unr8StrScted Total Funds Unrastrlcled Total Funds FurKIs 2025 Fund5 2024 Fundralslng cost
GURU NANAK GURDWARA Notes to the Flnanclal Statements (Gondnu Year •nded 28 February 2025 09. Expendltur• on ¢harltabl• actlvltle8 Unr8striGt8d Funds Restrictgd Total Funds Funds 2025 Direct charitable $1 Support costs 51,137 213,356 264,493 51,137 213,356 264,493 Unrestrictsd Funds Restrictsd Total Fund8 Funds 2024 DlreGt ¢haritable c081 Support costs 26,958 164,078 191,036 26,958 164.078 191,038 10. Support C08t•- Cost of g8ner8tlng voluntary Income Cost of charltable artivllies Total Support Cosl 2025 Fund ralslng tradlng Bank fees Cleaning D8pr8ciaUon & Impalmignt In8urance IT $ofiware ond consumable8 Llght. power, healing Motor vehlcle expen80 Motor vehicle hiro Pensions c08ts Printlng & stationery Repalr & malnlenance Recruftmenl expen$e8 Travelllng Expens88 Staff tralnlng SubsGrtptlon Telephone & inlemet Loan Interest Expense Sundry Expanses 1,839 1,839 50,910 6.070 50,910 8.070 58,205 3,568 185 58,205 3,568 165 35S 18,641 355 18,641 900 113 40 1,549 66,156 900 113 1549 66,156 4,554 213,356 213,336
GURU NANAK GURDWARA Nots8 to tho Flnanclal Statements (¢Onllftu Year ended 28 February 2025 11. Governance costs Unrestrfcied Total FuMl• Total Funds Funds 2025 2024 Accountancy fges Audlt fees Legal & professlonal cost 2760 2760 60(10 2520 8760 8760 12. Net Income Net (expenditureylncome Is stated aftér eh8rglngllcr8dltlngl'. 2025 2024 Deprèciallon of tanglble fixed 8sse16 50.910 1672 13. Audltors remuneratlon 2025 2024 F¢08 payablè for the audlt of the financial stat&m8nts 6000
GURU NANAK GURDWARA Notes to the Flnanclal Slatsments (con Year ended 28 February 2025 14. Staff ¢08ts The total stsff costs and employoa b6neffts for the reportlng perlod are analysed as follows.. 2025 2024 Wages and Sal8rl88 Social $8curfty cost8 Other pension costs 32,805 21,4S9 32.805 21,459 2025 No. 2024 No. The average MthlY Number of gmployeas durlng the year No Employees w8r8 paKI remuneratw above £60.000 In ehher th8 currènt or prlor fin8ndal year. 15. Tru8t•e rgmuntrratlon and expong No remuneration was pald to trvslees in th8 fflnanclal year {2024 - £NIII 16. Tanglbl• fix•d assets Freghold Fixtures and property flttlngs Total Cost Al 1 March 2024 Aédltsons 5,006.053 218,582 5,224,635 10,260 2,750 13,010 5,016,313 221,332 5,237,645 At 28 February 2025 Dgpreclatlon Al 1 March 2024 Chargo for the year At 28 February 202S Carrylng amount At 28 February 2025 At 29 February 2024 2.644 1,866 2,644 50.910 49.044 49.044 4,510 53,554 5,175,591 5,006,053 8,500 5.184,091 7,616 5.013,669
GURU NANAK GURDWARA Note8 to the Flnanclal Statements l¢onthwd) Year onded 28 February 202S 17. Ca¥h cash equlvalents C88h and c88h aqufvalents compr186 the followlng.. 2025 2024 C8$h at bank and in hand Bank ov¢rdrafts 202,789 202,455 202.789 202,455 18. Crndltors: amoun1• lalllng du• wlthln one year 2025 2024 Bank loans and ovérdrafts Accruals and deferr8d income 90,965 17,760 92,S03 5.040 108.725 97.543 19. Cradltor8: amounts falllng dua aft•r moro than one y•ar 2025 2024 Bank loan$ 8nd overdrafts 654,665 688,474 20. D•f•rwod InGom• 202S 2024 Amount deferred In ygar
GURU NANAK GURDWARA Notes to the Flnanclal Statsments (conllnu•dJ Year ended 28 February 2025 21. Analy818 of charltsblo funds Unr••lrlcted funds At 28 February 2025 Al 1 March 2024 InLrne Exp•ndituro G8neral funds 4,43D,107 466.636 1273.2531 4,623,490 At 29 February 2024 At 1 March 2023 Ineome Expenditure Genoral funds 4,255,509 369,444 (194.846} 4,430,107 22. Prlor Perlod Proporty Error Adlustmenl The Gurdwara prortY comprislng land and bulldlngs was acqulred In 1997 for 8 totsl con8lderatlon of £427,000. Basgd on information provided by the twst•8s At the time of acqul$ltlon, It was dotémlned that 759/0 of the purchasa pric6 related to18nd and 25% r818led to the buildlng. In 2021, the original buildlng was demolSshed. Du• to an Incorrect accounling treatment, thg full carying value of Ihe property Includlng Ihe18nd element was derecL)anlsed from the accounting records al that tirne. As land Is not subject to depreciation and was not disposed of, the derecognilion of the land el8menl was InGorre¢t. Accordingly. the laNJ element has been relnstated In the flnancial ststements for the perlod ended 28 February 2024 a8 8 correction of a prfor perfod error. In accordance wlth opplicable accounting 8tsnd8rd8. Th8 off8cts of the prlor error adjustment a as bekiw.. Unrastrfcted Fund$ Flxgd A8t¥ Openlng Balance 2024 Adlu8lmenl for Land incorrectly disposed Restal8d Opening Balance 2024 3,935.259 320.2SO 4.255.509 4.685,803 320.250 5.006.053