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 IF*egldenll 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 Ba￿1 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• I￿UrIty 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 shel￿1 u ipproprl8t• to •ecornmod•ta g comfortoty11 pIDc•for r•8ul•r w￿kty ¢laseo•. 8ook¥ ore proV￿ed in En81iyh arKI ￿ni*￿1 on Slkh f•lth, hl•tory and culture and cla¥gu are provid• to chlldr•n and adults ￿ promot•tho $lkh religi And 14Jnlobl tan8UO10. Wo actwy partlclpate In Intsrf•lth •JucatFon •nd 8chool ch51dron are encouTaged to￿81t tyjr Gurdwara and batt•r undorntarKllnq of theteachlnqs. tradltton8 end prBctl¢o& of the Slkh f•lth In ord•r to prornots good r•l•llon8 betbveon people ol dlff6rnntfalth& Flre 08fwyequlpmont18 regu￿rty monltored and s0￿Ced as rnqulred. Gurdw•ro pruvtdey a pl￿8 forth• prcfvl*lon of Slkh 1•8ttv•i8. W0ddIn￿, oongregatlonB. fun•rnl8 Ind communty everrts on a r8quIAr b8818 8nd iJon8bons are recelved to fund these O￿nts. Langar14 provklad at au whlch18 tr08 or char8e vthlch18 4Jpen to alL Wlndow8 hove been mod11￿$ 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 h￿d 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• 2,891,487 401￿ble to comp￿1¢• ivbl•ct to Ihfr Ccffip￿1￿ Wlrn•. Tho yofil •nd1088 ac[x)￿l h•8 not Jy MR JAGIR SINGH RAI Tr•a￿r•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¢ki￿o￿90￿, on the b81onc* shee( your rew>)nsit%lttie6 far ￿M￿y41￿j *lth the r*q￿reM￿ts of Ihe Companies ACL 20CIry wtih respect io accwntino retrAJrds and the w8parallon of accounts. These resp0nwbll￿e8 *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 rav￿w. 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 Adm1rd8tra￿ve 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• f*llhln 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 I￿9 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 prowl￿onI 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 ma￿fv 2024 l Aceountlnq p¢ll¢l Tho acrAunts have be￿ prepared ￿der the N#torkd C4)St 9)nv￿lIOn and In 8rxord8nc8 with FRS 102, The Nnancial Reportlng Stsnd8rrJ appli￿bI8 in th• UK and R•F￿blIC of Ireland (as applied to small end11￿ by IA of thé $tsnd8r(11. Turnov•r i• measured at tho lalr valuo of tho C￿￿￿&1￿]n recw￿d ty rK4lvabJ•. nat ef dlscourrtS and vthJe added t8xe8. Tumover kndudes ewned from tho 8alo of gooos and from the rer#lering cl gervicw. Tumover from Iho salè of g￿XIS Is rocognised the s&nrflcanl risks and réw8rls ot owngr8hlp of th• gLxxl$ have trnnsf¢rrgd &) the bJyBr. Turnover from the renderi of s•Nlc•3 Is rownLwS by refererKe to the stsg• of csses. Llstsd invesbnents are mea5ur•d at lalr valuo. Unllsted inva8tm•nts are measurwj al fair value unlo$8 th8 v*Jo caTh￿l b8 measur8d reilotty, ir) ￿1￿h c•88 th•y 8r• maa8wed al ¢06t le•8 a¢￿M￿lled imp•iTThent10•8e•. Ch•ng08 ift f8lr yalu• •rn IrKgud•d In Ihe wofit and1088 acc>JunL Slo¢k$ ore m￿sured at kmer ol crnt •rKI utlmated selllThJ Pflc6 les8 ¢0sts to ￿tplete avKI 8ell. Co8t 18 d8tsmiined using tM flrsl in Itrst 4Jrt moltrKxl. c4nyng amount ol slock 80td Is recogni8ed a8 an exp￿? In the rA￿0d In whlth th8 related révenue Is rocognhed. D•btorJ Short term ¢eblor5 are measured ot transactk)n price Iwhth 15 usually the invoice pru). Ivss any im￿lMi81)I los￿ lu bad and doubyul detts. èThl oiher fiTW)clfil inthlly recognised at transacticn pdce Indudlng any trarwction M¥tS and subseqLTrenlly measured at omortl8od cost dotsrmlned uwg ¢ff¢¢liv8 Irrtero91 method. Joss ony impalrment Ics5e5 ts bod and doubtful debts. 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 Iw*ich Is uSk￿llY 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 perf￿1$. A tax as68t ts rècogn180d kn refpoct ￿ a tr(at bo c6rrfad b8(% to recover tsx paid In a Eyev￿$ peri*>J. D8fmd t•x18 rocognl•ed In rnopoci of all timlng dlffaroncès b8Wn tho facognitlon of inco￿￿ and exp￿5•& in the financlal stat•monts and Iholr IrKlusion in tax 888888mvkn. Unrellevgd tax tOS8e8 and other deferred tax a8$8ts are recoanls6d only lo tha extert that11 Is pTIthL48 that Ihey wll be recovwed 8Garisl the reversd of def8rTed tax li8bnities or otrer fvbJr¢ tu•l)kn yo1118. ljrfeffod tAX l• meajurthj u8lng tha tax r8ts8 lawg that have been enactod ar substsntivoly ￿￿Cted by the rermyting date ar¥J that arn expected to apply to th• r•vèf•il of thè tlmlng dKf8renrA•. •Xe8Pt fLY reVa￿ed land and Inv86lment propety vtharg the lax f•ts that appli08 to th• gal• of th• a99et 18 u•od. CuThenl and deforred tax ag8ot8 ￿dIlabl111I85 arn not dlscount•d. Provl•lonJ ProTrA•lon• (￿¢ Il•bllltie• ot uncertaln IlmlTrJ or amount) are recogn￿0￿ th•r• ￿ an DblWt¥Jn ot the reFK)rtJ'ng dat8 as a re8uIt CA a past •vont, it kn probabbo thal economlc benofft wlll be trin•f•rre¢ to sattlo the obl*8tlon and the emounl ol Ih• obtlgatkn can b• 08tlmotsd rollably. Fortn tr•n*latloft TrBfbSactiDns Sn forewn currenixes Bre trmliolly recogrtsed 8t the rats of exchgngp nAlng at the dot8 tr8n8lat8d at the closing rate vf ex¢knge. NonvMC￿9lQry items that are measured at hi9torical oo•t aro tran81•knJ 4t the rate rullw al the d•t• of the tran¥a￿on. Al differenceg we dw9ad to L••••d u••l• A leas0 15 Glas81fle¢l a$ 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 r￿ognise{l 85 a55ets BrKI liaixlitie5 01 amount• equ81 to the lair valu¢ ol the leased assets or, rf I0￿r. the present value of the minimum leo80 ppyThents. Mlnimum leose pa￿ents wo Opp￿￿J 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 pa￿0dEC ral& of Intsr881 on remalnlng Oalance ￿ me Ilablllty. Loa8e¢ as6ets we a￿at81 In •xThOanc• wlm th• cornpaty8 policy for tangible fixed assets. If there b na reaS￿eL48 certalnty that owrarshlp wlll be obtslnod at tha end of the lea9e tenn. the a￿et b depr￿ated 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 pl￿6 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 Inlorni￿1oTr 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 I￿NEs 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 9xp9￿9$.. T•le*wne an¢J lax 726 233 469 B8nk charges Imurance Equipmènt EqulWn￿t 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 pr￿￿￿onal c08ts.' Other l•gal ond prrf¢s5ionql