| CONTENTS | Pages | ||
| Chair's Report | 3tos | ||
| Report ofthe Trustees | 6to 16 | ||
| Report ofthe Independent | Auditors | 17to 19 | |
| Statement of Financial Actlvihes |
20 | ||
| Balance Sheet | 21to 22 | ||
| Cashf low Statement | 23 to 24 | ||
| Notes to the Financial Statements | 25 to 38 | ||
| Detailed Statement of Finanaal |
Activities | 39to 40 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| funds | funds | funds | funds | ||||
| Notes | E | E | E | E | |||
| INCOME AND ENDOWMENTS | FROM | ||||||
| Donations and legacies |
1,122,503 | 324,636 | 1,447,139 | 3,297,335 | |||
| Investment income |
1,133,173 | 1,133,173 | 1,132,622 | ||||
| Other income | 3,168 | 3,168 | |||||
| Total | 2,258,844 | 324,636 | 2,583,480 | 4rl29,957 | |||
| EXPENDITURE ON | |||||||
| Investment management |
costs | il | 692,505 | 692,505 | 394,075 | ||
| Charitable activities |
|||||||
| Premises costs | 198,432 | 198,432 | 141,664 | ||||
| Support Costs | 441,084 | 441,087 | 962,669 | ||||
| Grants paid to institutions | 101,250 | 345,000 | 446,250 | 881,341 | |||
| Governance costs |
5,640 | 5,640 | 5,880 | ||||
| Finance costs | 85,809 | ||||||
| Total | 1,438,911 | 345,003 | 1,783,914 | 2,471,438 | |||
| NET INCOME/(EXPENDITURE) | 819,933 | (20,367) | 799,566 | 1,958,519 | |||
| RECONCILIATION OF FUNDS |
|||||||
| Total funds brought forward | 17,205,030 | 108,056 | 17,313,086 | 15,354,567 | |||
| TOTAL FUNDS CARRIED FORWARD | 18,024,963 | 87,689 | 18,112,652 | 17,313,086 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| Notes | E | E | E | f | ||
| FIXED ASSETS | ||||||
| Tangible assets | 12 | 2,653,575 | 2,653,575 | 2,843,926 | ||
| Investments | ||||||
| Investments | 13 | 1 | 1 | 1 | ||
| Investment property |
14 | 13,495,117 | 13,495,117 | 13,293,561 | ||
| 16,148,693 | 16,148,693 | 16,137,488 | ||||
| CURRENT ASSETS | ||||||
| Debtors: amounts | falling due within one year | 15 | 114,953 | 114,953 | 62,436 | |
| Debtors: amounts | falling due after more than one | |||||
| year | 15 | 236,748 | 236,748 | |||
| Cash at bank and | in hand | 3,049,641 | 87,689 | 3,137,330 | 3,967,842 | |
| 3,401,342 | 87,689 | 3,489,031 | 4,030,278 | |||
| CREDITORS | ||||||
| Amounts falling due within one year |
16 | (490,180) | (490,180) | (510,680) | ||
| NET CURRENT ASSETS | 2,911,162 | 87,689 | 2,998,851 | 3,519,598 | ||
| TOTAL ASSETS LESSCURRENT LIABILITIES | 19,059,855 | 87,689 | 19,147,544 | 19,657,086 | ||
| CREDITORS | ||||||
| Amounts falling due after more than one year |
17 | (1,034,892) | (1,034,892) | (2,344,000) | ||
| NET ASSETS | 18,024,963 | 87,689 | 18,112,652 | 17,313,086 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | E | E | |||
| Cash flows from operating | activities | ||||
| Cash generated from operations Interest paid |
1,000,510 ~36,675) |
2,373,768 ~76,556) |
|||
| Net cash provided by operating activities |
963,835 | 2,297,212 | |||
| Cash flows from investing | activities | ||||
| Purchase oftangible fixed | assets | (40,808) | (35,631) | ||
| Purchase ofinvestment property |
(201,556) | (318,644) | |||
| Sale oftangible fixed assets |
4,850 | ||||
| Interest received | 2,275 | 5,137 | |||
| Unsecured loan |
(250,000) | ||||
| Net cash used in investing | activities | ~485,239) | ~349,138) | ||
| Cash flows from Rnancing | activities | ||||
| Loan repayments in year |
(1,309,108) | (309,108) | |||
| Net cash used in financing |
activities | (1,309,108) | (309,108) | ||
| Change in cash and cash equivalents |
in the | ||||
| reporting period |
(830,512) | 1,638,966 | |||
| Cash and cash equivalents | at the beginning of | ||||
| the reporting period |
3,967,842 | 2,328,876 | |||
| Cash and cash equivalents | at the end | ofthe | |||
| reporting period |
3,137,330 | 3,967,842 |
| RECONCILIATION OF |
NET INC | OME TO NET CASH FLOW FROM OPERATI | NG ACTIVITIES | ||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| E | E | ||||
| Net income for the reporting | period (as per the Statement ofFinancial | ||||
| Activities) | 799,566 | 1,958,519 | |||
| Adjustments for: |
|||||
| Depreciation charges |
229,478 | 224,208 | |||
| Profit on disposal of | fixed assets | (3,168) | |||
| Interest received | (2,275) | (5,137) | |||
| Interest paid | 36,675 | 76,556 | |||
| (Increase)/decrease | in debtors | (39,266) | 187,632 | ||
| Decrease in creditors | (20,500) | (68,010) | |||
| Net cash provided by operations |
1,000,510 | 2,373,768 | |||
| ANALYSIS OF CHANGES IN NET FUNDS | |||||
| At 1.4.20 | Cash flow | At 31.3.21 | |||
| E | E | E | |||
| Net cash | |||||
| Cash at bank and in hand | 3,967,842 | (830,512) | 3,137,330 | ||
| 3,967,842 | (830,512) | 3,137,330 | |||
| Debt | |||||
| Debts falling due within 1year | (309,108) | (309,108) | |||
| Debts falling due after 1year | (2,344,000) | 1,309,108 | (1,034,892) | ||
| (2,653,108) | 1,309,108 | (1,344,000) | |||
| Total | 1,314,734 | 478,596 | 1,793,330 |
| Freehold property | 2%on cost | ||
|---|---|---|---|
| Improvements to property |
10%on cost | ||
| Fixtures and fittings | 10%on cost and | 10SSon reducing | balance |
| Motor vehicles | 2SSSon reducing | balance |
| 2021 | 2020 | |||
|---|---|---|---|---|
| E | E | |||
| Kar Sewa Patna Sahib Renovation | Project | 324,635 | 661,337 | |
| Fetter | 2,609 | |||
| INVESTMENT INCOME | ||||
| 2021 | 2020 | |||
| E | E | |||
| Rents received | 1,130,898 | 1,127,485 | ||
| Deposit account interest | 2,275 | 5,137 | ||
| 1,133,173 | 1,132,622 | |||
| RAISING FUNDS | ||||
| Investment management |
costs | |||
| 2021 | 2020 | |||
| E | E | |||
| Security | 99,533 | 88,914 | ||
| Rates &water | 68,292 | 45,612 | ||
| Insurance | 19,589 | 18,417 | ||
| Light & heat | 129,055 | 205,379 | ||
| Investment management |
costs | 13,086 | 35,626 | |
| Bank charges | 238 | 127 | ||
| Bad debt provision | 362,712 | |||
| 692,505 | 394,075 |
| Governance | ||||
|---|---|---|---|---|
| Management | costs | Totals | ||
| E | E | E | ||
| Premises costs | 198,432 | 198,432 | ||
| Support Costs | 441,087 | 441,087 | ||
| Governance | costs | 5,640 | 5,640 | |
| 639,519 | 5,640 | 645,159 |
| AUDITORS' REMUNERATION | |||
|---|---|---|---|
| 2021 | 2020 | ||
| E | E | ||
| Fees payable to the charity's auditors for the audit ofthe charity's | financial | ||
| statements | 5,640 | 5,880 |
| COMPARA | TIVES FOR THE STA |
TEMENT OF FINANCIAL A | CTIVITIES | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| funds | funds | funds | |||
| E | E | E | |||
| INCOME AND ENDOWMENTS | FROM | ||||
| Donations | and legacies | 2,633,389 | 663,946 | 3,297,335 | |
| Investment | income | 1132,622 | 1,132,622 | ||
| Total | 3,766,011 | 663,946 | 4,429,957 | ||
| EXPENDITURE ON | |||||
| Raising funds | 394,075 | 394,075 |
| COMPARATIVES | FOR THE STATEME | NT OF FINANC | IAL ACTIVITIES-co | ntinued | ||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||||
| funds | funds | funds | ||||
| E | E | E | ||||
| Charitable activities |
||||||
| Premises costs | 141,664 | 141,664 | ||||
| Support Costs | 955,650 | 7,019 | 962,669 | |||
| Grants paid to institutions | 271.336 | 610,005 | 881,341 | |||
| Governance costs |
5,880 | 5,880 | ||||
| Finance costs | 85,809 | 85,809 | ||||
| Total | 1,854,414 | 617,024 | 2,471,438 | |||
| NET INCOME | 1,911,597 | 46,922 | 1,958,519 | |||
| RECONCILIATION | OF FUNDS | |||||
| Total funds brought forward | 15,293,433 | 61,134 | 15,354,567 | |||
| TOTAI. FUNDS CARRIED FORWARD | 17,205,030 | 108,056 | 17,313,086 | |||
| TANGIBLE FIXEDASSETS | ||||||
| Improvements | Fixtures | |||||
| Freehold | to | and | Motor | |||
| property | property | fittings | vehicles | Totals | ||
| E | E | E | E | E | ||
| COST | ||||||
| At 1April 2020 | 3,180,008 | 1,402,818 | 453,495 | 12,600 | 5,048,921 | |
| Additions | 15,583 | 25,225 | 40,808 | |||
| Disposals | (12,600) | (12,600) | ||||
| At 31March 2021 | 3,180r008 | 1,402,818 | 469,078 | 25,225 | 5,077,129 | |
| DEPRECIATION | ||||||
| At 1April 2020 | 1,523,007 | 397,705 | 273,365 | 10,918 | 2,204,995 | |
| Charge for year | 63,351 | 140,281 | 19,539 | 6,306 | 229,477 | |
| Eliminated on disposal |
(10,918) | (10,918) | ||||
| At 31March 2021 | 1,586,358 | 537,986 | 292,904 | 6,306 | 2,423,554 | |
| NET BOOK VALUE | ||||||
| At 31March 2021 | 1,593,650 | 864,832 | 176,174 | 18,919 | 2,653,575 | |
| At 31March 2020 | 1,657,001 | 1,005,113 | 180,130 | 1,682 | 2,843,926 |
| 25 | ||
|---|---|---|
| holding | ||
| Class ofshare: | ||
| Ordinary | ||
| 2021 | 2020 | |
| E | E | |
| Aggregate capital and reserves |
59,655 | 31,601 |
| Profit/(Loss) for the year | 28,052 | 19,845 |
| INVESTMENT PROPERTY | ||
| FAIR VALUE | ||
| At 1April 2020 | 13,293,561 | |
| Additions | 201,556 | |
| At 31March 2021 | 13,495,117 | |
| NET BOOK VALUE | ||
| At 31March 2021 | 13,495,117 | |
| At 31March 2020 | 13,293,561 |
| 2021 | 2020 | ||
|---|---|---|---|
| E | E | ||
| Amounts | falling due within one year: | ||
| Other debtors | 49,306 | 46,175 | |
| Prepayments | 65,647 | 16,261 | |
| 114,953 | 62,436 | ||
| Amounts | falling due after more than one year: | ||
| Other debtors | 236,748 | ||
| Aggregate | amounts | 351,701 | 62,436 |
| CREDITORS: AMOUNTS FA |
LLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|
| 2021 | 2020 | ||
| E | E | ||
| Bank loans and overdrafts | (see note 18) | 309,108 | 309,108 |
| Trade creditors | 79,851 | 97,360 | |
| Taxation and social security | 11,125 | 11,125 | |
| Other creditors | 90,096 | 93,087 | |
| 490,180 | 510,680 |
| 32. | CREDITORS: AMOUNTS | CREDITORS: AMOUNTS | CREDITORS: AMOUNTS | FALLING DUE AFTER MORE THAN ONE YEAR | FALLING DUE AFTER MORE THAN ONE YEAR | FALLING DUE AFTER MORE THAN ONE YEAR | ||
|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||||
| E | E | |||||||
| Bank loans | (see note 18) | 1,034,892 | 2,344,000 | |||||
| 38, | LOANS | |||||||
| An analysis | ofthe maturity of | loans is given below: | ||||||
| 2021 | 2020 | |||||||
| E | E | |||||||
| Amounts | falling due within one year on | demand: | ||||||
| Bankloans | 309,108 | 309,108 | ||||||
| Amounts | falling due between | two and five years. | ||||||
| Bank loans | —2-5 years | 1,034,892 | 1,236,432 | |||||
| Amounts | falling due in more than five years: | |||||||
| Repayable | by instalments: | |||||||
| Bank loans | more 5 yr by | instal | 1,107,568 | |||||
| 19. | SECURED | DEBTS | ||||||
| The following secured debts are included | within creditors: | |||||||
| 2021 | 2020 | |||||||
| E | E | |||||||
| Bankloans | 1,344,000 | 2,653,108 |
| Net | ||||||
|---|---|---|---|---|---|---|
| movement | At | |||||
| At 1.4.20 | in funds | 31.3.21 | ||||
| E | E | E | ||||
| Unrestricted | funds | |||||
| General fund | 17,205,030 | 819,933 | 18,024,963 | |||
| Restricted funds | ||||||
| Fetzer | 103 | (3) | 100 | |||
| Kar Sewa Patna | Sahib Project | (20,364) | 87,589 | |||
| 108,056 | (20,367) | 87,689 | ||||
| TOTAL FUNDS | 17,313,086 | 799,566 | 18,112,652 | |||
| Net movement | in funds, included | in the above are as follows: | ||||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| E | E | E | ||||
| Unrestricted | funds | |||||
| General fund | 2,258,844 | (1,438,911) | 819,933 | |||
| Restricted funds | ||||||
| Fetzer | (3) | (3) | ||||
| Kar Sewa Patna | Sahib Project | 324,636 | (345,000) | (20,364) | ||
| 324,636 | (345,003) | (20,367) | ||||
| TOTALFUNDS | 2,583,480 | (1,783,914) | 799,566 |
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 1.4.19 | in funds | 31.3.20 | ||
| E | E | E | ||
| Unrestricted | funds | |||
| General fund | 15,293,433 | 1,911,597 | 17,205,030 | |
| Restricted funds | ||||
| Fetzer | 4,513 | (4,410) | 103 | |
| Kar Sewa Patna Sahib Project | 56,621 | 51,332 | 107,953 | |
| 61,134 | 46,922 | 108,056 | ||
| TOTAL FUNDS | 15,354,567 | 1,958,519 | 17,313,086 |
| Incoming | Resources | Movement | ||
|---|---|---|---|---|
| resources | expended | in funds | ||
| E | E | E | ||
| Unrestricted | funds | |||
| General fund |
3,766,011 | (1,854,414) | 1,911,597 | |
| Restricted funds | ||||
| Fetzer | 2,609 | (7,019) | (4,410) | |
| Kar Sewa Patna Sahib Project | 661,337 | (610,005) | 51,332 | |
| 663,946 | (617,024) | 46,922 | ||
| TOTALFUNDS | 4,429,957 | (2,471,438) | 1,958,519 |
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 1.4.19 | in funds | 31.3.21 | ||
| E | E | E | ||
| Unrestricted | funds | |||
| General fund | 15,293,433 | 2,731,530 | 18,024,963 | |
| Restricted funds | ||||
| Fetzer | 4,513 | (4,413) | 100 | |
| Kar Sewa Patna Sahib Pro)ect | 56,621 | 30,968 | 87,589 | |
| 61,134 | 26,555 | 87,689 | ||
| TOTAL FUNDS | 15,354,567 | 2,758,085 | 18,112,652 |
| Incoming | Resources | Movement | ||
|---|---|---|---|---|
| resources | expended | in funds | ||
| E | E | E | ||
| Unrestricted | funds | |||
| General fund | 6,024,855 | (3,293,325) | 2,731,530 | |
| Restricted funds | ||||
| Fetzer | 2,609 | (7,022) | (4,413) | |
| Kar Sewa Patna Sahib Project | 985,973 | (955,005) | 30,968 | |
| 988,582 | (962,027) | 26,555 | ||
| TOTAL FUNDS | 7,013,437 | (4,255,352) | 2,758,085 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| 6 | E | |||||
| During the year the | charity purchased | the following goods or services: | ||||
| Marg Sat | Santokh Manufacturers |
Ltd | 493 | 15,027 | ||
| Nishkam | Pharmacy | Limited | 2,655 | 6,397 | ||
| Nishkam | Security Limited | 181,464 | 148,558 | |||
| Sangat TV Limited | 18,720 | 54,998 | ||||
| During the year the | charity made the | following donation: | ||||
| Nishkam | Civic Association | 50,000 | 100,000 | |||
| Nishkam | Healthcare | Trust | 30,000 | 30,000 | ||
| During the year the | charity received | the following rent: | ||||
| Nishkarn | Healthcare | Trust | 30,000 | 30,000 | ||
| Guru Nanak Nishkam |
Education Trust | 40,203 | 40,203 | |||
| Nishkam | School Trust | 272,234 | 272,234 | |||
| Nishkam | Pharmacy Limited |
2,800 |
| During the year the charity received the following donation: | During the year the charity received the following donation: | During the year the charity received the following donation: | |||
|---|---|---|---|---|---|
| Marg Sat Santokh Manufacturers | Ltd | 135,639 | 3,780 | ||
| Sangat Trust | 184,477 | 186,125 | |||
| At the end ofthe year the following amounts | were due by Guru Nanak | Nishkam | Sewak iatha (Birmingham) | UK: | |
| Sangat Trust | 576 | ||||
| Marg Sat Santokh Manufacturers |
Ltd | 1,641 | |||
| At the end ofthe year the following amounts | were owed to Guru Nanak | Nishkam | Sewak Iatha (Birmingham) | UK: | |
| Nishkam Pharmacy Limited |
2,800 | ||||
| Nishkam Civic Association |
24,500 |
| 2021 | 2020 | |
|---|---|---|
| E | E | |
| Management | ||
| Brought forward | 122,987 | 207,837 |
| Sundries | 2,299 | 10,112 |
| Premises repairs and renewals | 114,565 | 27,931 |
| Transport and carriage |
433 | 1,500 |
| Subscriptions | 2,134 | 2,250 |
| Flowers for gurudwara | 15,706 | 27,731 |
| Langar for worshippers | 16,818 | 188,045 |
| Bank charges | 2,519 | 8,899 |
| Hygiene and cleaning | 7,674 | 22,569 |
| Security | 81,931 | 58,857 |
| Fetter | 7,019 | |
| Professional fees |
6,300 | 6,000 |
| Events | 320,628 | |
| Freehold property | 63,351 | 63,351 |
| Improvements to property |
140,282 | 140,282 |
| Fixtures and fittings | 19,539 | 20,014 |
| Motor vehicles Interest payable |
6,306 ~36675 |
561 76,556 |
| 639,519 | 1,190,142 | |
| Governance costs |
||
| Auditors' remuneration |
5,640 | 5,880 |
| Total resources expended | 1,783,914 | 2,471,438 |
| Net income | 799,566 | 1,958,519 |