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|---|---|---|---|
|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|
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|||||||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|
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|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|
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|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||
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||||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|
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||||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|
##
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|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|
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|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|
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|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|
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|||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|
##
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##
|||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|
##
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##
||||||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|
##
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##
||||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|
##
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||||||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||
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|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|
##
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||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|