Reosttred number 0284603 SIKH SOCIETY OF MILTON KEYNES Report and Accounts 31 March 2024
SIKH SOCIEfYoF MILTON KEYNES TRUSTEES REPORT FOR THE YEAR ENDED MARCH 2tr The tru8tgo¥ of the Stkh Soclety ol Milton Kvynea prea8ntthalr raport and alongwlth tho unoudtted fln#nclalststements fortheyoar endad 31•t March 2024. flnanGLql statement¥ comply with th& St8t•mont of Recornmended Pra¢tioe ISORP)-A¢¢ountin8 and A8POrting by the Charltles Act. The Charlty18 req18tsred In England. nUrnb8r284 aTrJ IJ gmm•d tythe con8tJtutlon •dopted 2PAwll 2003 FlvA81on 08. There Erfj 15 commlttee morti¢r• olectgd In Jonuary 2023 and thé camMItt mémbwfj durtngtha a¢countltiiP8rlcKI were o• ft>liows: 08r8h•n Sl h L IFegldenll Gurbex Sin rn Ivlce Preoklwrt} H4rban8 Kaur Sdhu G•n•rnl S•cr•ts Ir Sln hR81 reolurer) Jasworrt Sln Rupr41 Balvlr Ssn h MarwBha R•Thblr Kaur B8 Devlnder OurpJl&n Hemieet Sln Hamieet Sln ov Sln Jl8b8èr Kaur Lot8 Thlr8th Sln h Ba1 S• Itsln Ohillon Chhabrn h Kooh•r DhaUw•l Th?flngn¢lo18o¢ounts hove been prewred ond th18 rnport appucabia tothe p•rfod runnln8 Irom 11¢ Aprll2023- 31 •t Moich 2024 Tha Gurdwarn l• underwlng contlnugd m8lntenance wort( and looklng at •pproprfat• IUrIty m88•um a• per rwiAtlon• on Plac of %4vr8hl 0•8 and Electrlcal urtlll¢•t•• ObtsIn a8 pw10881 rwulrem¢rrts. Libr•ry prol•ct- Inotsliod naw Iped8 arml shel1 u ipproprl8t• to •ecornmod•ta g comfortoty11 pIDc•for r•8ul•r wkty ¢laseo•. 8ook¥ ore proVed in En81iyh arKI ni1 on Slkh f•lth, hl•tory and culture and cla¥gu are provid• to chlldr•n and adults promot•tho $lkh religi And 14Jnlobl tan8UO10. Wo actwy partlclpate In Intsrf•lth •JucatFon •nd 8chool ch51dron are encouTaged to81t tyjr Gurdwara and batt•r undorntarKllnq of theteachlnqs. tradltton8 end prBctl¢o& of the Slkh f•lth In ord•r to prornots good r•l•llon8 betbveon people ol dlff6rnntfalth& Flre 08fwyequlpmont18 regurty monltored and s0Ced as rnqulred. Gurdw•ro pruvtdey a pl8 forth• prcfvl*lon of Slkh 1•8ttv•i8. W0ddIn, oongregatlonB. fun•rnl8 Ind communty everrts on a r8quIAr b8818 8nd iJon8bons are recelved to fund these Onts. Langar14 provklad at au whlch18 tr08 or char8e vthlch18 4Jpen to alL Wlndow8 hove been mod11$ 80 theyopen end eUowadequotsvontll8tlon and ¢lr¢ulatlon of alrthrouohouttha l)ulldtng in summw rnonth&
SIKH 80CETY OF MILTON I(EYNES R•gl•t•Y•d number 0284603 Balanc• Sh••1 a• at 31 March 2024 2024 2023 Flx•d a•••ts Tanglble 8ssets 3.083.932 . 3,084,878 Curr•nt Cash at bank ano kn hd 78.130 70.637 Gr•dlloTh". lalllng du• wlthln an• ymr (80,918) (59.5441 17212 11.093 3,101.144 3,095,789 CMdltov•: •mounts lalmry Ik •ft•r mor• than on• yMr (2D9,657) (253,371) Capltal and rwtv•• Profft 101$ ao))unt 2,891.487 2.842,398 Total fvnd• 2,891,487 401ble to comp1¢• ivbl•ct to Ihfr Ccffip1 Wlrn•. Tho yofil •nd1088 ac[x)l h•8 not Jy MR JAGIR SINGH RAI Tr•ar•r roved by board on 12 2024
SIKH SOCIETY OF MILTON KEYNES A¢countants' R•port SIKH SOCIETY OF MILTON KEYNES You con8idBr Ihat the Cherty18 ox•mpt from an udlt for th• 31 March 2024. You a¢kio90, on the b81onc shee( your rew>)nsit%lttie6 far My41j lth the rqreMts of Ihe Companies ACL 20CIry wtih respect io accwntino retrAJrds and the w8parallon of accounts. These resp0nwblle8 *Klude prepariw thal 9T 8 tvug and falr vlaw of the 8lata Lrf affalr8 of the Chwty at thé ond of the flnana ar ol or10ss for lh8 flnan¢l81 ar. In accordance wkh your In8trLrllon8, we h8ve tho accounts whth compr158 the Proflt and Lo•s I•& tha 8aianca SWI, the Slatement of CIHnoM In Equlty and tho ralated rtha Wb not Carr an aLxItt or any othor ravw. Jnd do not express any op1n1 on th00• acoyJnt8. CHARTERS ASSOCIATES ACCOUNTANTS & AUDITORS 20 U4NGLEY ROAD SLOUGH 8ERKS. SL3 7AB 12 June 21J24
SIKH SOCIEfY OF MILTON KEYNE8 Profit and Lom Account for th• y•ar •nd•d 31 March 2024 2024 152,375 134,488 Cost of 98leB 14,2001 Gro•* proltt 152,375 130,286 Adm1rd8trave eypen {86.257) (43,3851 86.118 88,901 Intwvjt r•¢efvwbi8 Internlt p•yabl8 185 117,2141 (10.125) 49.089 Tax pnfflt Prvfft for th• fin•n¢lil y•at 78.776
SIKH SOCIEfY OF MILTON KEYMES R•gl•t•r•d number. 8alanc• 8h••t •• •t 31 lknrch 2024 2024 Flx•d M•ets Tanglble gssets 3.083.932 . 3.084,676 Curr•nt •AMts Ca8h * ban and In harxl 78,130 70.B37 Cr•dllarn: amounts f•lllnq du• fllhln on• y••r 160,918) <59,544) 17212 11.093 TatAI iM•ts l••• ¢uir•irt Iliblllti 3.101.144 3,095,769 Cr•dftor•: amounts hlllng du• •fw mor• than on• y••r 09.887) (253,371) 2 891487 2 842 398 . •nd r•••N•• Profit and I9 4c42Xmt 2.801.487 2.842.398 Totsl fun 2.891487 2,842 398 Tho a¢?16 h• b•M prepargd and dell¥vad In 8o>Jrdorw wlth tho •p•dal prowlonI appLtabl• to Mpan 8uble(X to the T*nil1 o%np•F4•• rnglm•. Tha and lou ac¢ounl has not Jy £11. FIR JAGIR SINGH RAI Tr•p8ur•r Aoproved by the board iv) 12 Juno 2024
SIKH SOCIETY OF MILTON KEYNES stalwn•nt of Chang•• In Equlty tor th• year end 31 March 2024 Sh•rn Shar• R• ¢•WtsI pr•mlum valuation Prafft •nd 108• Toi•l Al l Aprfl 2022 2,765.822 2.765,622 Prnfit for Ihe1SnafKlal 76.776 76.778 At 31 Mv¢h 20ZJ 842 398 2 842 398 At 1 Aprtl 2023 2,842,398 1842,398 Profft for th• lin8n&al 49.085 49,089 At 31 IAw¢h 2024 2,891.487 2.891487
SIKH SOCIETY OF IAILTON KEYNES
Nots• lo lh• £courrt
for th• y•ar •nttod 31 mafv 2024
l Aceountlnq p¢ll¢l
Tho acrAunts have be prepared der the N#torkd C4)St 9)nvlIOn and In 8rxord8nc8 with
FRS 102, The Nnancial Reportlng Stsnd8rrJ applibI8 in th• UK and R•FblIC of Ireland (as
applied to small end11 by IA of thé $tsnd8r(11.
Turnov•r i• measured at tho lalr valuo of tho C&1]n recwd ty rK4lvabJ•. nat ef dlscourrtS
and vthJe added t8xe8. Tumover kndudes ewned from tho 8alo of gooos and from the
rer#lering cl gervicw. Tumover from Iho salè of gXIS Is rocognised the s&nrflcanl risks
and réw8rls ot owngr8hlp of th• gLxxl$ have trnnsf¢rrgd &) the bJyBr. Turnover from the renderi
of s•Nlc•3 Is rownLwS by refererKe to the stsg• of c
SIKH SOCIETY OF MILTON KEYNES to th• Accountj for the y•w •nd•d 31 M•rGh 2024 Short tenn ryeé1t( are mea8urod at tran8aclion pric6 Iwich Is uSkllY lh8 invoic• pricel. Loani and other flnandal li4blHlleg we Inlllolly recogthd at tranuclon prtce net of any transacllon costs and 8ub8•q¥enty mea8ureO at amoYYsèd cost detèTm1r u5in9 the effectiv) interest method. r•x•tlon A Gurrgnt tax Ilablllty im row9niBed for the payable on the taxable profit of the current and pa8t perf1$. A tax as68t ts rècogn180d kn refpoct a tr(at bo c6rrfad b8(% to recover tsx paid In a Eyev$ peri>J. D8fmd t•x18 rocognl•ed In rnopoci of all timlng dlffaroncès b8Wn tho facognitlon of inco and exp5•& in the financlal stat•monts and Iholr IrKlusion in tax 888888mvkn. Unrellevgd tax tOS8e8 and other deferred tax a8$8ts are recoanls6d only lo tha extert that11 Is pTIthL48 that Ihey wll be recovwed 8Garisl the reversd of def8rTed tax li8bnities or otrer fvbJr¢ tu•l)kn yo1118. ljrfeffod tAX l• meajurthj u8lng tha tax r8ts8 lawg that have been enactod ar substsntivoly Cted by the rermyting date ar¥J that arn expected to apply to th• r•vèf•il of thè tlmlng dKf8renrA•. •Xe8Pt fLY reVaed land and Inv86lment propety vtharg the lax f•ts that appli08 to th• gal• of th• a99et 18 u•od. CuThenl and deforred tax ag8ot8 dIlabl111I85 arn not dlscount•d. Provl•lonJ ProTrA•lon• (¢ Il•bllltie• ot uncertaln IlmlTrJ or amount) are recogn0 th•r• an DblWt¥Jn ot the reFK)rtJ'ng dat8 as a re8uIt CA a past •vont, it kn probabbo thal economlc benofft wlll be trin•f•rre¢ to sattlo the obl8tlon and the emounl ol Ih• obtlgatkn can b• 08tlmotsd rollably. Fortn tr•nlatloft TrBfbSactiDns Sn forewn currenixes Bre trmliolly recogrtsed 8t the rats of exchgngp nAlng at the dot8 tr8n8lat8d at the closing rate vf ex¢knge. NonvMC9lQry items that are measured at hi9torical oo•t aro tran81•knJ 4t the rate rullw al the d•t• of the tran¥aon. Al differenceg we dw9ad to L••••d u••l• A leas0 15 Glas81fle¢l a$ 8 fin¢• l•aw W it tr•Ml•Tr $ubsl*ntl8lly all th¢ ri•k• •nd r¢wArd• kncldental to rhvnerghip. Al other16aso8 ar• d8um6d 88 oparatlng 16a8é8. Th6 t1ghts of u8t and obligalionj under financé 80•5 ¥e Inltially rognise{l 85 a55ets BrKI liaixlitie5 01 amount• equ81 to the lair valu¢ ol the leased assets or, rf I0r. the present value of the minimum leo80 ppyThents. Mlnimum leose paents wo OppJ bofw9w finonco charyag the reduGIKin in the outstanding liabilty uslng the elloetfvè knt•r•#t r•ts molhod. Th• flnane• charg•18 Ilocaled lo aach period durtng th l&a8a 80 as lo produc• a conBlant pa0dEC ral& of Intsr881 on remalnlng Oalance me Ilablllty. Loa8e¢ as6ets we aat81 In •xThOanc• wlm th• cornpaty8 policy for tangible fixed assets. If there b na reaSeL48 certalnty that owrarshlp wlll be obtslnod at tha end of the lea9e tenn. the aet b deprated over the imr of Ihe e tem) and 6ts usofvl I. Oper8t1 1088• p8>Thents arn rwnlsod as 8n exponso on a stsight Imi6 basi8 over lh• i•rrn. Contribulions to d•fin•d fmtrlbution pl6 ar• •xpon8•d in tho pwiod to which th•y Ml•t•.
SIKH SOCIEfY OF MILTON KEYNES N¢)t•• to th• Accounts for th• y•ar •nd•d 31 M•r¢h 2024 2 Employ• 2024 P4umb•r 2023 Numb•r Awjrage number (rf emploFd bythe crmpwy J T•nglbl• Ilx•d •M•ts Plant and m•¢hln•ry Land •nd bulldlng• Total Co¥t At 1 WI 2023 31 M•rch 2024 3,079.716 3 079,716 48,075 48.075 3,125.791 3 125.791 A11W2023 Charg• for th• y•ar At 31 Mar¢fT 2024 41.115 744 41,115 744 N•t bopk valu• At 31 March 2024 3.079.716 3,083,932 At 31 March 2023 3 079716 4 Cr•dllor•: •unts f•llln9 du• wlthln on• >*•r 2024 2023 Bank loan8 and overfkafts 60.018 900 58,824 720 Cr•dltor•'. amounts falllng du• •ft•r ¢n• y•ar 2023 Bank IOA 209 657 6 Oth•r Inlorni1oTr SIKH SOCIETY OF MILTON KEYNES 18 8 and rngtstwed kn England. Its offi Is.. PHOENIX DRIVE LEADENHALL MILTON KEYNES MK8 SLU
SIKH SOCIEff OF MILTON KEYNES D•tall•d wofflt and loss account for the ar •nd•d 31 March 2024 Thls sch&dulé does not fcnn partofthe st*utOry 8¢counts 2024 2023 152.375 134.486 C06t of 48188 (4,200) GrN• profft 162.375 130,286 Admkn18tr8Ive •xp•n8OS (86.257) 143,3851 Opvailng profft 66,118 88,901 Inlerosl rec•lvalle Inl•r•8t payatl• 185 (17214 {10.1261 Profit b•for• tsx 76.776
SIKH SOCIETY OF MILTON INEs lor th• yoar •nd 31 Mareh 2024 2014 2023 Donations 1 52.375 134,486 Coat ol ••l•• Subwntrador 4,200 Admlnl•tr•tlv• •XP• Employee o75ty". Wages and iaTérie• Travel and 8ubstst8nc• 2,41Q 785 Prerni8aS COJts.' R4t08 Ught ané heat Cl••nlng 3.058 35.075 6,251 43.384 22,495 1,189 27,120 General athlnbstrati¥Q 9xp99$.. T•le*wne an¢J lax 726 233 469 B8nk charges Imurance Equipmènt EqulWnt htro R•pqirs And m8lnt•nqn Depr¢?1 Don8llon8 519 3.488 1,198 1,743 27,fyJ4 744 6.636 41,208 4,324 875 Lyl and pronal c08ts.' Other l•gal ond prrf¢s5ionql