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|CONTENTS||Pages|
|---|---|---|
|Chair's Report||5to 7|
|Report ofthe Trustees||8to 19|
|Report ofthe Independent|Auditors|20to 23|
|Statement
of Financial Activities||24|
|Balance Sheet||25to 26|
|Cashf low Statement||27to 28|
|Notes to the Financial Statements||29to 40|
|Detailed Statement
of Financial Activities||41to 42|
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|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
||||Notes|funds
f|funds
f|funds
f|fundsf|
|INCOME AND ENDOWMENTS||FROM||||||
|Donations
and legacies|||2|1,737,570|577,743|2,315,313|1,447,139|
|Investment
income|||3|868,934||868,934|1,133,173|
|Other income||||8,900||8,900|3,168|
|Total||||2,615,404|577,743|3,193,147|2,583,480|
|EXPENDITURE ON||||||||
|Raising funds|||4|306,767||306,767|692,505|
|Charitable
activities||||||||
|Premises costs||||108,864||108,864|198,432|
|Support Costs
Grants paid to institutions||||540,602
208,002|647,000|540,602
855,002|401,893
446,250|
|Grants paid to individuals
Governance
costs||||4,204
5,640||4,204
5,640|5,640|
|Finance costs||||24,225||24,225|39,194|
|Total||||1,198,304|647,000|1,845,304|1,783,914|
|NET INCOME/(EXPENDITURE)||||1,417,100|(69,257)|1,347,843|799,566|
|RECONCILIATION
OF FUNDS||||||||
|Total funds brought|forward|||18,024,963|87,689|18,112,652|17,313,086|
|TOTAL FUNDS CARRIED FORWARD||||19,442,063|18,432|19,460,495|18,112,652|
##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||Notes||funds
f|funds
F|funds
6|fundsf|
|FIXEDASSETS||||||||
|Tangible assets|||12|2,528,631||2,528,631|2,653,575|
|Investments||||||||
|Investments|||13|1||1|1|
|Investment
property|||14|13,564,473||13,564,473|13,495,117|
|||||16,093,105||16,093,105|16,148,693|
|CURRENT ASSETS||||||||
|Debtors: amounts|falling due within one|year|15|220,336||220,336|114,953|
|Debtors: amounts|falling due after more|than||||||
|one year|||15|213,668||213,668|236,748|
|Cash at bank and|in hand|||3,124,581|18,432|3,143,013|3,137,330|
|||||3,558,585|18,432|3,577,017|3,489,031|
|CREDITORS||||||||
|Amounts
falling due within one year|||16|(209,627)||(209,627)|(490,180)|
|NET CURRENT ASSETS||||3,348,958|18,432|3,367,390|2,998,851|
|TOTAL ASSETS|LESSCURRENT|||||||
|LIABILITIES||||19,442,063|18,432|19,460,495|19,147,544|
|CREDITORS||||||||
|Amounts
falling due after more than one||||||||
|year|||17||||(1,034,892)|
|NET ASSETS||||19,442,063|18,432|19,460,495|18,112,652|
##
|FUNDS||20|||
|---|---|---|---|---|
|Unrestricted|funds:||||
|General
fund|||19442 063|18024 963|
|Restricted|funds:||||
|Fetzer|||600|100|
|Kar Sewa|Patna Sahib Project||17,832|87,589|
||||18,432|87,689|
|TOTALFU|NDS||19469,495|19.112,652|
##
##
##
||||Notes|2022
f|2021
f|
|---|---|---|---|---|---|
|Cash flows from|operating||activities|||
|Cash generated
from operations
1
Interest
paid||||1,498,596
~)8623|1,000,510
~36.675|
|Net cash provided|by operating
activities|||1,479,973|963,835|
|Cash flows from|investing||activities|||
|Purchase oftangible fixed assets||||(112,227)|(40,808)|
|Purchase
of investment
property||||(69,356)|(201,556)|
|Sale oftangible
fixed assets|||||4,850|
|Interest received||||3,149|2,275|
|Unsecured
loan||||13,252|~25D,000|
|Net cash used
in|investing|activities||~)65,)82)|~485,239)|
|Cash flows from|financing||activities|||
|Loan repayments|in year|||1,309,108|1,309,108|
|Net cash used
in|financing|activities||~1,309,1D8)|~1.309.108)|
|Change
in cash|and cash||equivalents|||
|in the reporting|period|||5,683|(830,512)|
|Cash and cash equivalents|||at the|||
|beginning
ofthe|reporting||period|3,137,330|3,967,842|
|Cash and cash equivalents|||at the end|||
|ofthe reporting|period|||3,143,013|3,137,330|
##
|RECONCILIATION
OF|RECONCILIATION
OF|NET INCOME TO|NET INCOME TO|NET INCOME TO|NET CASH FLOW FROM OPERATING ACTIVITIES|NET CASH FLOW FROM OPERATING ACTIVITIES|NET CASH FLOW FROM OPERATING ACTIVITIES|NET CASH FLOW FROM OPERATING ACTIVITIES|
|---|---|---|---|---|---|---|---|---|
||||||||2022
f|2021
F|
|Net income for the|reporting|||period (as|per the|Statement of|||
|Financial Activities)|||||||1,347,843|799,566|
|Adjustments
for:|||||||||
|Depreciation
charges|||||||237,171|229,478|
|Profit on disposal of|fixed assets|||||||(3,168)|
|Interest received|||||||(3,149)|(2,275)|
|Interest paid|||||||18,623|36,675|
|Increase
in debtors
Decrease
in creditors|||||||(95,555)
~6,337|(39,266)
~20.500|
|Net cash provided|by|operations|||||1,498,596|1,000,~10|
|ANALYSIS OF CHANGES|||IN|NET FUNDS|||||
|||||||At 1.4.21
f|Cash flow
6|At 31.3.22|
|Net cash|||||||||
|Cash at bank and
in|hand|||||3,137,330|5,683|3,143,013|
|||||||3,137,330|5,683|3,143,013|
|Debt|||||||||
|Debts falling due within||1 year||||(309,108)|274,216|(34,892)|
|Debts falling due after 1 year||||||~1,034,892|1,034,092||
|||||||~1,344,000|1,309,108|~34,892|
|Total||||||1,793,330|1,314,791|3,108,121|
##
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|Within
voluntary
income|are the fol|lowing
receipts re|lating
to restricted|gra|nts:||
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||f|f|
|Kar Sewa Patna Sahib Renovation||Project|||577,743|324,635|
|Fetzer|||||||
|INVESTMENT INCOME|||||||
||||||2022
f|2021
f|
|Rents received|||||865,785|1,130,898|
|Deposit account interest|||||3,149|2,275|
||||||868,934|1,133,173|
|RAISING FUNDS|||||||
|Investment
management|costs||||||
||||||2022
f|2021|
|Security|||||90,052|99,533|
|Rates &water|||||48,055|68,292|
|Insurance|||||20,926|19,589|
|Light &heat|||||128,387|129,055|
|Investment
management|costs||||19,101|13,086|
|Bank charges|||||246|238|
|Bad debt provision||||||362,712|
||||||306,767|692,505|
|CHARITABLE ACTIVITIES COSTS|||||||
||||Grant||||
||||funding|of|||
||||activities||Support||
||||(see note||costs (see||
||||6)f||note 7)
f|Totals
f|
|Premises costs|||||108,864|108,864|
|Support Costs|||||540,602|540,602|
|Grants paid to institutions|||855,002|||855,002|
|Grants paid to individuals|||4,204|||4,204|
|Governance
costs|||||5,640|5,640|
|Finance costs|||||24,225|24,225|
||||859,386||679331|1,538,537|
##
##
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##
|GRANTS PAYABLE|||||||
|---|---|---|---|---|---|---|
||||||2022
f|2021
f|
|Grants paid to institutions|||||855,002|446,250|
|Grants paid to individuals|||||4,204||
||||||859,206|446,250|
|The total grants
paid|to institutions||during|the year was as follows:|||
||||||2022|2021|
|||||||E|
|Birmingham
Faith Leaders Group||||||250|
|GNNSJ Leeds|||||20,000|20,000|
|Onkar Divine Mission|||||26,000||
|British Sikh Consultative|||||1,000|1,000|
|Nishkam
Civic Association|||||100,000|50,000|
|GNNSJ Kenya|||||200,000||
|Religion and Peace - University||of|Birmingham||20,000||
|Nishkam
Healthcare|Trust||||30,000|30,000|
|Kar Sewa India|||||447,000|345,000|
|Sundry Donations|||||6,001||
|Nihal Production|||||5,001||
||||||855,002|446,250|
|SUPPORT COSTS|||||||
||||||Governance||
|||||Management|costs|Totals|
|||||5|6|E|
|Premises costs||||108,864||108,864|
|Support Costs||||540,602||540,602|
|Governance
costs|||||5,640|5,640|
|Finance costs||||24,225||24,225|
|||||673,691|~5640|679,331|
##
##
||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
||||||||6|F|
|Fees payable to the charity's||auditors||for the audit ofthe||charity's|||
|financial statements|||||||~5640|5,640|
|TRUSTEES' REMUNERATION|||AND|BENEFITS|||||
|The trustees
received no remuneration|||||or other benefits|during the year ended 31 March||2022, nor fo|
|the year ended 31 March|2021||and earlier years.||||||
|Trustees' expenses|||||||||
|The trustees
have claimed|no expenses||||during
the year|ended 31 March|2022 nor for the year ended||
|31 March 2021 and earlier|years.||||||||
|STAFF COSTS|||||||||
|The Trust is managed
by volunteers||||and such has no paid employees.|||||
|COMPARATIVES FOR THE||STATEMENT OF FINANCIAL ACTIVITIES|||||||
|||||||Unrestricted|Restricted|Total|
|||||||funds|funds|funds|
|||||||E|8|6|
|INCOME AND ENDOWMENTS|||FROM||||||
|Donations
and legacies||||||1,122,503|324,636|1,447,139|
|Investment
income||||||1,133,173||1,133,173|
|Other income||||||3 168||3,168|
|Total||||||2,258,844|324,636|2,583,480|
|EXPENDITURE ON|||||||||
|Raising funds||||||692,505||692,505|
|Charitable
activities|||||||||
|Premises costs||||||198,432||198,432|
|Support Costs||||||401,890|3|401,893|
|Grants paid to institutions||||||101,250|345,000|446,250|
|Governance
costs||||||5,640||5,640|
|Finance costs||||||39,194||39,194|
|Total||||||1,438,911|345,003|1,783,914|
|NET INCOME/(EXPENDITURE)||||||819,933|(20,367)|799,566|
|RECONCILIATION
OF FUNDS|||||||||
|Total funds brought forward||||||17,205,030|108,056|17,313,086|
##
##
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##
##
##
##
|COMPARATIVES FOR THE|STATEMENT|OF FINANCIAL|ACTIVITIES - continued|ACTIVITIES - continued||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||funds
f|funds
f|funds
f|
|TOTAL FUNDS CARRIED FORWARD|||18,024,963|87,689|18,112,652|
|TANGIBLE FIXEDASSETS||||||
|||Improvements|Fixtures|||
||Freehold|to|and|Motor||
||property
f|property|fittings
F|vehicles
f|Totals
f|
|COST||||||
|At 1 April 2021|3,180,008|1,402,818|469,078|25,225|5,077,129|
|Additions|||112,227||112,227|
|At 31 March 2022|3,180,008|1,402,818|581,305|25,225|5,189,356|
|DEPRECIATION||||||
|At 1 April 2021|1,586,358|537,986|292,904|6,306|2,423,554|
|Charge for year|63,351|140,282|28,808|4,730|237,171|
|At 31 March 2022|1,649,709|670 260|321,712|11,036|2,660,725|
|NET BOOK VALUE||||||
|At 31 March 2022|1,530,299|724,550|259,593|14,189|2,528,631|
|At 31 March 2021|1,593,650|864,832|176,174|18,919|2653575,|
##
|Shares|in|
|---|---|
|gl'oup||
|undertakings
f||
##
##
|INVESTMENT PROPERTY||
|---|---|
|FAIR VALUE||
|At 1 April 2021|13,495,117|
|Additions|66366|
|At 31 March 2022|13,564,473|
|NET BOOK VALUE||
|At 31 March 2022|13,564,473|
|At 31 March 2021|13,495,117|
|DEBTORS|||
|---|---|---|
||2022
f|2021
f|
|Amounts
falling due within one year:|||
|Other debtors|200,608|49,306|
|Prepayments|19,728|65,647|
||~220 336|114,953|
|Amounts
falling due after more than one year:|||
|Other debtors|213,668|236,748|
|Aggregate
amounts|434,004|351,701|
##
|16.|CREDITORS:|AMOUNTS|FALLING DUE|FALLING DUE|WITHIN ONE YEAR||
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||6|F|
||Bank loans and overdrafts||(see note 18)||34,892|309,108|
||Trade creditors||||75,626|79,851|
||Taxation and social security||||11,125|11,125|
||Other creditors||||87,984|90,096|
||||||209,627|490,180|
|17.|CREDITORS:|AMOUNTS|FALLING DUE||AFTER MORE THAN ONE YEAR||
||||||2022|2021|
||||||6|8|
||Bank loans (see note 18)|||||1,034,892|
|18.|LOANS||||||
||An analysis of|the maturity|ofloans is given below:||||
||||||2022|2021|
||||||6|8|
||Amounts
falling due within||one year on demand:||||
||Bank loans||||34,892|309,108|
||Amounts
falling due between|||two and five|years:||
||Bank loans - 2-5years|||||1,034,892|
|19.|SECURED DEBTS||||||
||The following|secured debts||are included|within creditors:||
||||||2022
f|2021
f|
||Bankloans||||34,892|1,344,0DD|
##
##
|MOVEMENT|IN FUNDS||||
|---|---|---|---|---|
||||Net||
||||movement|At|
|||At 1.4.21
f|in funds
f|31.3.22
f|
|Unrestricted|funds||||
|General fund||18,024,963|1,417,100|19,442,063|
|Restricted funds|||||
|Fetzer
Kar Sewa Patna Sahib Project||100
87589|500
,~69,757)|600
17,832|
|||87,689|~69,207|10,432|
|TOTAL FUNDS||18,112,652|1,347,843|19,460,495|
|Net movement
in funds,
included
in the above|are as follows:|||
|---|---|---|---|
||Incoming|Resources|Movement|
||resources
f|expended
f|in funds
f|
|Unrestricted
funds||||
|General
fund|2,615,404|(1,198,304)|1,417,100|
|Restricted funds||||
|Fetzer
Kar Sewa Patna Sahib Project|500
577,243|~647,400)|500
~00,707)|
||577,743|647,000|69,257|
|TOTAL FUNDS|3,193,147|J1,845,304)|1,347,843|
##
|Compar|atives|for movement
in funds||||
|---|---|---|---|---|---|
|||||Net||
|||||movement|At|
||||At 1.4.20
f|in funds
f|31.3.21
f|
|Unrestricted||funds||||
|General|fund||17,205,030|819,933|18,024,963|
|Restricted funds||||||
|Fetzer
Kar Sewa Patna Sahib Project|||103
107,953|(3)
~20,364)|100
87,589|
||||108.056|~20.367)|87,689|
|TOTAL|FUNDS||17,313,086|799,566|18,112,652|
##
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##
|A charitable
company|in which Trust|ee|Mohind|er|Sing|h Ahluwalia
has been|a trustee.||
|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|
||||||||6|6|
|During the year the|charity purchased||the following goods or services||||||
|Marg Sat Santokh
Manufacturers
Ltd|||||||4,475|493|
|Nishkam
Pharmacy|Limited||||||1,010|2,655|
|Nishkam
Security Limited|||||||171,983|181,464|
|Sangat TV Limited|||||||6,643|18,720|
|During the year the|charity made the||following||donation:||||
|Nishkam
Civic Association|||||||100,000|50,000|
|Nishkam
Healthcare|Trust||||||30,000|30,000|
|Guru Nanak
Nishkam|Sewak Jatha|Leeds|||||20,000|20,000|
|During the year the|charity received||the following|||rent:|||
|Nishkam
I-lealthcare|Trust||||||30,000|30,000|
|Guru Nanak
Nishkam|Education
Trust||||||40,203|40,203|
|Nishkam
School Trust|||||||272,234|272,234|
|Nishkam
Pharmacy|Limited||||||11,200|2,800|
|During the year the|charity received||the following|||donation:|||
|Marg Sat Santokh
Manufacturers
Ltd|||||||72,000|135,639|
|Sangat Trust|||||||54,410|184,477|
|During the year the|charity received||the following|||interest income:|||
|Guru Nanak
Nishkam
Sewak Jatha||Leeds|||||2,851||
|At the end ofthe year the following:|||||||||
|Amount
were due by Guru Nanak||Nishkam||Sewak||Jatha (Birmingham)|UK:||
|Sangat Trust|||||||6,643||
|Amount
were owed|to Guru Nanak|Nishkam||Sewak Jatha (Birmingham)|||UK:||
|Nishkam
Pharmacy|Limited|||||||2,800|
|Nishkam
Healthcare|Trust||||||34,728||
##
##
##
##
||||2022
6|2021f|
|---|---|---|---|---|
|INCOME AND ENDOWMENTS|||||
|Donations
and legacies|||||
|Voluntary
income|||2,315,313|1,447,139|
|Investment
income|||||
|Rents received|||865,785|1,130,898|
|Deposit account interest|||3,149|2,275|
||||868,934|1,133,173|
|Other income|||||
|Gain on sale oftangible|fixed assets||8,900|3,168|
|Total incoming
resources|||3,193,147|2,583,480|
|EXPENDITURE|||||
|Investment
management|costs||||
|Security|||90,052|99,533|
|Rates &water|||48,055|68,292|
|Insurance|||20,926|19,589|
|Light & heat|||128,387|129,055|
|Investment
management|costs||19,101|13,086|
|Bank charges|||246|238|
|Bad debt provision||||362,712|
||||306,767|692,505|
|Charitable
activities|||||
|Grants to institutions|||855,002|446,250|
|Grants to individuals|||4,204||
||||859,206|446,250|
|Support costs|||||
|Management|||||
|Rent, rates, water and service||charges|2,940|1,579|
|Insurance|||29,027|29,535|
|Light and heat|||55,576|54,049|
|Telephone|||2,830|5,505|
|Printing,
postage and stationery|||19,146|12,860|
|Advertising|||10,481|19,459|
|Sundries|||10,190|2,299|
|Premises
repairs and renewals|||21,321|114,565|
|Carried forward|||151,511|239,851|
##
||2022|2021|
|---|---|---|
||6|6|
|Management
Brought forward
Transport
and carriage|151,511
1,270|239,851
433|
|Subscriptions|2,600|2,134|
|Flowers for gurudwara
Langar for worshippers
Bank charges|23,711
118,677
5,602|15,706
16,818
2,519|
|Hygiene
and cleaning
Security|21,392
81,931|7,674
81,931|
|Professional
fees|11,203|6,300|
|Freehold
property|63,351|63,351|
|Improvements
to property
Fixtures and fittings|140,282
28,808|140,282
19,539|
|Motor vehicles|4,730|6,306|
|Interest payable|18,623|36,675|
||673,691|639,519|
|Governance costs|||
|Auditors'
remuneration|5,640|5,640|
|Total resources expended|1,845,304|1,783,914|
|Net income|1,347,643|799.666|
##