REGISTERED CHARITY NUMBER: 5fy1277 Trustees, Report and Unaudited Financial Ststements for the Year Ended 31 Mareb 2024 for SRI DASMESH SIKH TEMPLE Brindley5 Limited 2 Wheeleys Road Edgbaston Btrn]ingham West Midlands B15 2LD
SRI DASMESH SIKH TEMPLE Contellts of the FiL8neial Statements for the Year Ended 31 March 2024 Page Trnstees, Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 6 to 11 Detailed Statement of Financial Activities 12
SIU DASMESH SIKH TEMPLE Trustees, Report forthe Year Ended 31 March 2024 The trustees present their report ivith the financial statements of the charity for the year ended JI March 2024. The trustees hav¢ 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) {effectiv¢ l January 2019). OPJECTIVES AND AcfIvITIES Objectives and aims The charity is a l(Kal. independent non-denominatii)nal, Sikh Temple and Comrnunity Centre, established for the worship and the advancement of Sikh religion, based upon the teachings of Guru and S] Granth Sahib Ji, the relief of hardship and distress and the enhencernent of life, by provision of the charity's fa¢ilities for the l(Kal community. ACHIEVEMENT AND PERFORIWCE Charitable aetivities The charity Continues to practice and promote the advancement of the Sikh faith. The continued support & contribution from devotees, worshippers and the general public has enabled the Charity to provide essential services of proNryding free meals to all visitors to the Temple. Fvndralsing aCtitieS The statement of financial activities is showD on page 4 with notes and analysis on pages 5 to I l. The net income for the year £98,187 has been added t() the res¢rv¢ brought fonvard. to give total funds of £2,419.730 to cany fonvard. FINANCIAL REVIEW Reserves policy The charity's reserve policy aims lo secure at least twelve months of ninning costs within general reserves to ensure ongoing sustainability for specific projects and to cover related costs. FUTURE PLANS The charity has plans continuing the activities outlined above in the forthcoming years, subject to satisfactory funding. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Charity is govcrned by a Tnjst Deed dated 18th February 1974 Induction and training of new trustees Most trustees are familiar '1th the practical work of the charity having been encouraged to take up the interna] nTrnagement courses and quarterly meetings. The internal management courses cover: The obligations of Management Committee members. The main documents iyhich set out the operational framework for the charity. Resourcing the cumt financial position as set out in the last accounts. Future plans and objectives. REFERETrICE AND ADMINISTk4TIVE DETAtLS Registered Charity Dumber 5(H277 Principal address 305 Wheeler Road Lozells Birn]ingham West Midlands B219SE Page I
SRI DASMESH SIKH TEMPLE Trustees, Report for the Year Ended 31 Lmarch 2024 Trustees Gian Singh Gill Santokh SinoJ Malhi Ram Lubhaya Suglani Avtar Singh Ghundale (resigned 6.9.24) Kewal Singh Chohan Harbinder Singh Raindi (resigned 31.8.24) Paramjit SinJa Tank Lal Singh Doal Independent Examiner Kulivinder Singh Chawla F.C.C.A. Brindleys Limited 2 Wheeleys Road Edgbaston Birmingham West Midlands B15 2LD Bankers Barclays Bank Pl J511359 Soho Road West Bromwich B70 8LX FREEHOLD PROPERTIES The charity (regstered numb¢r- 504277) currently oHffls the following freehold properties. Temples 305 Wheeler Street, Lozell4 Birmingham 350 Wh¢eler Street, L4)zells, Binningham 12 Malthouse Gardens, Lozells, Birmingham Residential Properties 7 Old Postway, Lozells, Birniingham Commercial Properties 50, 50a, 50b, 50c & 50d Lozells Road. Lozell& Bimiingham 52. 52a, 52b, 52¢, 52d & 52¢ Lozells Roa4 L(yze115, Birniinghan] Approved by order of the board of trustees on 24 January 2025 and signed on its behalf by: 47 Santokh Singh Malhi - Tntstee Page 2
Independent Examiner's Report to the Trustees of Sri Dasmesh Sikh Temple Independent examiner's report to the trustees of Sri Dasmesh Sikh Temple l Teport to the charity trustees on my examination of the accounts of Sri Dasmesh Sikh Temple (the Trust) for the year ended 31 March 2024. 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 rq)ort in respect of my examination of the Trust's acCO)tS carried out under Seetii)n 145 of the Act and in carying out my examination I have followed all applicable Directions given by the Charity CoTnmission under Section 145(5)Ib) of the Act. Independent examiner's statement Since your charity's OsS income exceeded £250.000 your examiner musl be a member of a listed body. I can confim that I arn qualified to undertake the examination because E am a member of the Association of Chartered Certified Accountant which is one of the listed bodies. I have completed my examination. I confimi that no material matters have Come to my attention in Connection with the examination giving me cause to believe that in any n]aterial respect: accountin(F records were not kept in rcspect of the Tn as required by Section 130 of the Act,. or the accounts do not accord ivith those records,. or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Ac¢ounts and Reports) Regulations 2008 other than any requirement that the a¢counts give a true and fair view which is not a matter considered as part of an independent examinatii)n. 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 reache4t Kulwinder Singh Chawla F.C.C. Brindleys Limited 2 Wheeleys Road Edgbaston Birmingham West Midlands B15 2LD 24 January ?025 Page 3
SRI DASMESH SIKH TEMPLE Statement of Financial Activities for the Year Ended 31 March 2024 2024 Unrestricted fund 2023 Total fijnds Notes INCOME AND ENDOWMENTS FROM Donations and legacie5 218,443 185,825 Investment income 102,128 87,810 Total 320,571 273.635 EXPENDITURE ON Charitsble ACtitieS Charity 222J84 211,605 NET INCOME 98,187 6?,030 RECONCILIATION OF FUNDS Totsl funds brought forward 2J21,543 2,259,513 TOTAL FUNDS CARRIED FORWARD 2,419,730 2,321,543 The notes form part of these financial statements Page 4
SRI DASMESH SIKH TEMPLE Balance Sheet 31 March 2024 2024 2023 Total fimds Unrestrieted fund Notes FIXED ASSETS Tgngible assets 1,449,264 1.412,000 CURRENT ASSETS Debtors Investments Cash at bank and in hand 5,956 877,566 97,041 7,609 851,320 62,064 980,563 920,993 CREDITORS Amounts falling due within one year (10,097) (11,450) NET CURREiYf ASSETS 97(1,466 909,543 TOTAL ASSETS LESS CURRENT LIABILITIES 2,419,730 2,J21,543 NET ASSETS 2,419,730 2,J21,54J FUNDS Unrestricted funds io 2,419,730 2,)21,543 TOTAL FUNDS 2,419,730 2.321,543 The financial staternent5 weTe approved by the Board of Tnte¢S and authorised for issue on 24 January 2025 and were signed on its behalf by: Gian Singb - Trustee Lal Singh - Trustee Santokh Singh Maihi - Trustee The notes fonn part of these fmancial statements Page 5
SRI DASMESH SIKH TEMPLE Notes to the Finaneial Statsments for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financial ststements The fmancial statements of the charity, which is a public benefit entity under FRS 102. have been prep8red in accordance 7th the chitIeS SORP (FRS 102) 'Aceounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance M'ith the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective l January 2019),, Financia] Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The fu)ancial 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 fi]nds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constrnctive obligation committing the charity to that expenditurG it is probable that a transfer of econornic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an acclS basis and has been classified under headings that a7 egate all cost related to the category. Where costs cannot be directly attributed to particular headings they havc been allocated to activities on a basis consistent with the use of resources. Tangible red assets Depreciation is provided at the following annual rates in order to wile off each asset over its estimated useful life. Freehold Propety Fixtures and fittings ' Jt line basis 150/a on reducing balance Taxation The charity is exempt from tsx on tts charitable activities. Fund accounting Unrestricted funds Can be used in accordance with the charitable objectives at the discretion of the trust¢es. Restricted funds can only be LLsed for particular restricted purwses within the objects of the charity. Restrictions arise when specified by the donor or when fimds are raised for particular restritted purposes. Further explanation of the natur¢ and purpose of each fund is included in the notes to the financial statements. Hire purchase and leasing commitments Rent21s paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. Penslon costs and other post-retirement benefits The charity operates a defined contribution pension Scheme. Contributions payable to the ckwity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Page 6 continued...
SRI DASMESH SIKH TEMPLE Notes to the Fin#neial Statements- eontinued for the Year Ended 31 March 2024 INVESTMENT INCOME 2024 2023 Rents received Deposit account interest 75,883 26245 80,829 6,981 102,128 87,810 TRUSTEES, REMUNERATION AIYD BENEFITS There were no trustees, TemLmeration or other benefits for the year ended 31 March 2024 nor for the year ended JI March 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. STAFF COSTS The average monthly number of employees during the year was as follows: 2024 2023 Staff No employees received emoluments in excess of £60,000. 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fimd INCOME AND ENDOWMENTS FROM Donations and legacies 185,825 Investtnent income 87.810 Total 273,635 EXPENDITURE ON Charitable activities Ch&ity 211.605 NET INCOME 62.030 RECONCILIATION OF FUNDS Total fun¢ls brought fonvard 2,259,513 TOTAL FUNDS CARRIED FORWARD 2.J21,543 Page 7 continued...
SRI DASMESH SIKH TEMPLE Notes to the Financial Statements- continued for the Year Ended 31 March 2024 TANGIBLE FIXED ASSETS Fixtures Freehold Property Computer equipment fittings Totals COST At l Aprtl 202) Additions 2.464,795 56,000 327,196 4,220 2,791,991 61.018 798 At 31 March 2024 220,795 331,416 2,853,009 DEPRECIATION At l April 202J Charge for year 1,122,104 12,604 257,887 11,030 lJ79,991 23,754 120 At 31 March 2024 1,134,708 26&917 120 IA03,745 NET BOOK VALUE At JI March 2024 1386,087 62,499 678 1,449,264 At 31 March 2023 1,342.691 69,309 1,412,000 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 202i Prepayments and accrued income 5,956 7,609 CURRENT ASSET INVESTMEINTS 2024 2023 Tem Deposits 877,566 851,320 Page 8 continued...
SRI DASIVIESH SIKH TEMPLE Notes to the Financial Statements- eontinued for the Year Ended 31 March 2024 CREDITORS: AMOUNTS FALLll¥G DUE WITHIN ONE YEAR 2024 Trade creditors Taxation and social security Other creditors 3,938 (1,048) 7,207 921 9.716 10,097 11,450 io. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestrieted ndS General fund 22143 98,187 2,419,730 TOTAL FUNDS 2J21,543 91187 2,419,730 Net movement in fijnds. included in th¢ above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 320571 (222J84) 98,187 TOTAL FUNDS 320,571 (222J84) 98,187 Comparatives for movement In funds Net movement in fimds At 31.3. At 1.4.22 Unrestrieted funds General fund 2.259,513 62,OiO 2,321,543 TOTAL FUNDS 2,259,513 2,321,543 Page 9 ontinued...
SRI DASMESH SIKH TEMPLE Notss to the Financial Ststements- continued for the Year Ended 31 March 2024 MOVEMENT tN FUNDS- continued Comparative net movement in fund& Includ in the above 8Te as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 273,635 (211,605) 62,030 TOTAL FUNDS 27J,635 (211,605) 62,030 A cumt year 12 months and prior year 12 months combined position is as follows: Net movement in funds At 31.3.24 At 1.4.22 Unrestricted fund$ General fund 2.259.513 160.217 2.419.730 TOTAL FUNDS 2,259.51) 160,217 2,419,7)0 A current yeaT 12 months and prior year 12 months combined net movement in fimd& included in the above are as follows.. Incoming resources Resources expended Movem¢nt in fimds Unrestrictsd fuDd$ General fund 594,206 (433,989) 160,2I7 TOTAL FUNDS 594,206 {433,989) 160.217 Pag¢ 10 continued...
SRI DASMESH SIKH TEMPLE Notes to the Financial Statements- eontinued for the Year Ended 31 March 2024 ii. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended )1 March 2024. Page 11
SR[ DASMESH SIKH TEMPLE Detailed Statement of Finaneixl Aetivities for the Year Ended 31 March 2024 2024 2023 INCOME AND ETr4DOWMENTS Donations and legacies Donations 218,443 185,825 Investment income Rents received Deposit account interest 75083 26245 80,829 6.981 102,128 87,810 Totsl incoming resources 320,571 27J,6J5 EXPENDITURE Charitsble attivitie5 Wages Pensions Repairs & Maintenance Water Rates Insurance Light and heat Telephone Printing,Stationary & Postage Cleaning Sundries Kirtan Expense Donations F(x)d f()r Worshipper Depn of freehold propety Fixtures and fittings Cornputer equipment 44,990 727 22,063 4,266 12,804 41,157 2,66l 1512 708 6J84 7,770 251 52,103 12,604 11,029 120 47,809 834 7.505 3,04? 26.970 42 1.808 929 3,581 9,355 37,800 49,296 12.231 221,149 210,402 Support eosts Mallagement Rates 635 603 Governance costs Accountancy 600 600 Total resources expended 222J84 211,605 Net income 98187 62,030 This page does not forni part of the statutory financial ststements Page 12