REGIsfERED CHARITY NUMBER: 511163 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR THE GURU NANAK WAIU WEST BROMWICH
GURU NANAK GURDWARA WEST BROMWICH CONTENTS OF THE FINANCIAL SI'ATEMENrs FOR'fHE YEAR ENDED 31 DECEMBER 2023 Pag¢ Report of the Trustees Independent Examinerfs Report Statem¢nt of Financial Activilies Balanc¢ Sheet Notes lo the Financial Statements D¢lailed Slatem¢nl of Financial Activities
THE GURU NANAK GURDW A114 WEST BROMWICH REPORT OF THE TRUSTEES FOR'r EAR ENDED 31 DECEMBER 2023 The trustees present their report with the financial statements of Ihe charity for the year ended 31 Decemb¢r 2023. The trusl¢es have adopted the provisions of Accounting and Reporting by Charities.. Slalement of Recoinmended Pra¢lice applicable to charities preparing their accounts in accordance with the FinanGial Reporting Siandard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES The obj¢¢ls of the Temple is to a provide place of worship for Sikhs. to support the cotnmunity in connecting with its religion and lo integrate into (he community within which they live. To make use of the Temple lo uphold the faith of the followers of the ten gurus and the holy Guru Granth sahib and provide activities that encourag¢ and support this. Review of Aetlvities In the year the Templ¢ conlinu¢d lo provide services to the community. religious functions. place of worship. w¢ddings. langar etc as well as providing ¢lasse5 in Gurbani. Vaja. Tabala et¢. Work has continued on the new 8urdwara build this year. Futiire ActTrvitles Thc Gurudwara will ¢ontinue to provide ils core activities (outlined above) in ihe coming year. as well as continue the program of investment in th¢ infrastructure of the Temple.. The Trustees de¢18re that they have approved the Irust¢¢s report above.. STRUCTURE, GOVERNANCE AND MANAGEMEIYT The Temple is govemed by its constitution, which sets out how the Temple shall be governed. The temple has 3 trustees and a management committee to run the day to day operalion of the Temple. There are 15 p05iliot]s that tnake up Ihe committee, an election board tnade up of the 3 Irusl¢¢s and 2 members of the congregation run% the election process in a¢¢ordance with the rules sel out in the constitution. The Irusl¢es are the original founder of th¢ temple with the cxception of one member who wa5 el¢cled on by the remaining trustees when one trustee retired. REFERENCE AND ADMINISTRATIVE DETAILS Regist¢r¢d Charity numbei- 511163 PrincipAI address 8 Edward Street West Bromwich West Midlands B70 8NN Trustees Mr Parminder Singh (appointed 30.3.24) Mr Paramjit Singh Mr Surinder Singh Approved by order of the board of trustees on 23 October 2024 and signed on its behalf by: Mr Parminder Singh - Trustee Page I
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GURU NANAK GURDWARA WEST BROMWICH Indtpendent eiaminer's report to the trustees of The Guru Nanak Gurdwara West Bromwieh I report lo Ilie charity trustees on my examination of the accounts of The Guru Nanak Gurdwara West Bromwich {the Trust) for the year ended 31 December 2023. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in ac¢ordaiice with the requirements of tlie Charities Act 2011 ('Ihe Act,). I report in respect of my examination of the Trust's accouiils carried out under Section 145 of the Acl and in carrying out my exainination I Iiave followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. Independtnl examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm t]iat l am qualified to undertake the exaininalion be¢ause l am a meniber of Ihe Institute of Chartered Accouiitanls in England and Wales. which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attenlion in connection willi the examination giving me cause to believe that in any material respect.. ac¢ounting records were not kept in respect of the Trust as required by Section 130 of the Act. or the accounts do not accord with those reeord5' or the accounts do not comply with the applicable requiremei)ts concerning the fom) aiid coiitent of accounts set oul in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounls give a true and fair view which is not a matter considered as part of ali iiidependent examii)alion. have no concerns and have come across no other matters in coniiection with the examination to which attention should bedr in this report in order lo enable a proper understanding of tl?e accounts to be reached. Mr Balvinder Ark ACA CTA The Institute of Chartered Accountants in England and Wales Date.. Pag¢ 2
THE GURU NANAK G RDW ARA WEST BROMWICH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 31.12.23 Unrestricted fund 31.12.22 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 424,920 322.111 EXPENDITURE ON Raising funds 133,665 157,094 NET INCOME 291,255 165,017 RECONCILIATION OF FUNDS Total funds brought forward 1,803,987 1,638,970 TOTAL FUNDS CARRIED FORWARD 2,09S,242 1,803,987 The notes fonn part of these financial statements Page 3
THE GURU NANAK GURDW ARA WEST BROMWICH BALANCb SHliET 31 DECEMBER 2023 31.12.23 31.12.22 Total funds Uni'estricted fund Notes FIXLD ASSETS Tangible ass¢ls 2,488,3S8 2.175,508 CURRENT ASSF.TS Cash al bank and in hand 50,252 43,186 CRCI DITORS Ainounls Calling due within one year (49,833) (334.460) NET CIIRRENT ASSETS 419 {291,274) TOTAL ASSETS LESS CURRENT LIABILITIES 2,488,777 1,884.234 CREDITORS Amounts falling due aft¢r more than one year {393,535) (80,247) NET ASSETS 2,095,242 1,803,987 FUNDS Unrestricted funds 2,095,242 1,803,987 TOTAL FUNDS 2,095,242 1,803,987 The financial stalemenis were approved by the Board of Trustees and authorised for issue on 23 October 2024 and were signed on ils behalf by: Mr Parmindcr Singh - Trustee The note5 fomi part of these financial statements Pag¢ 4
THE GURU NANAK GURDWA WEST BROMWICH NOTES TO THE FtNANCIAL STATEMENT.5 I",OR TF YEAR ENDED 31 DECEfvLBER 2023 ACCOUNTINC POLICIES Basis of prepariIig the financial statements Thc financial slalemenls of the charity. which is a publi¢ benefit entity under FRS 102, have been prepared in a¢¢ordanc¢ with the Charities SORF (FRS 102) 'Ac¢ounling and Reporting by Charities.. Stalemenl of Recommended Practice applicable to charities Preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ir¢land (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have b¢en prepored under the historical cost convention. Income All incoine 15 recognised in the Statement of Financial Activities once the charity has entitlement lo the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Li&bilities are recognised as expenditure as soon as th¢re is a legal or conslruclive obligation Committin8 the charity to that expenditure, it is probable that a transfer of economic benefit5 will be required in scttlemenl and the amount of the obligation Gan be measured reliably. Expenditure is accounted for on an accruals basis and has b¢en ¢la5sified under headings that aggregate all cost related lo th¢ category. Where ¢osts cannot be directly attributed to particular headings they have been allocated lo activities on a basis consistent with the use of resources. TAxA(ion The charity is exempt from lax on its charitable ac¢ivities. Fund aecounting Unrcstricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restrieted ndS Cgn only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by th¢ donor or when fi]nds are raised for particular restricted purposes. Further explanotiort of the nature and purpose of each fvnd is included in the notes to the financial slatements. RAISING FUNDS Raising donatloiis and legkeies 31.12.23 31.12.22 Support costs 133,665 157.094 Page 5 continued.
TFtE U NANAK URDW ARA WEST BROMWICH NOTES TO THE FINANCIAL STA TEMENTS - conlinued FOR THE YEAR ENDED 31 DECEMBER 2023 TRUSTEES, REMUNERATION AND BENEFITS There wer¢ no Iruslees, remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. Trustees, expenses There were no Iruslees, expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfivITIES Unrestricted fijnd INCOME AND ENDOWMENTS FROM Donations and legacies 322,111 EXPbNDITURE ON Raising funds 157,094 NET INCOME 165.017 RECONCILIATION OF FUNDS Tolal ndS brought forward 1.638.970 TOTAL FUNDS CARRIED FORWARD 1,803,987 TANGIBLE FIXED ASSETS Freehold prop¢rty COST At l January 2023 Additions 2,175,508 312,850 At 31 December 2023 2,488,358 NET BOOK VALUE At 31 December 2023 2,488,358 At 31 Dec¢mber 2022 2,175,508 Pa8e 6 continued...
THE WARA WE T BROMWICH NOTES TO THE FINANCIAL STATEMENTS - continued FOR THb YEAR ENDED 31 DECEMBER 2023 CREDITORS: AMOUNTS FAI,LING DUE WITHIN ONE YEAR 31.12,23 31.12.22 Bank loans and overdrafts (see not¢ 8) Trade creditors Other credilors 47,134 (i) 2,700 334,460 49,833 334.460 CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN OIYE YEAR 31.12.23 31.12.22 Bank loans (see note 8) Other creditors 346,535 47,000 80,247 393,535 80,247 LOAh'S An 8naly5is of the maturity of loans is given below,. 31.12.23 31.12.22 Amounts falling due within one year on demand: Bank loans 47,134 334,460 Amounts falling betsveen one and two years.. Bank lomns - 1-2 years Other loans - 1-2 years 47,134 47,000 80,247 94,134 80,247 Amounts falling due belween two and five years.. Bank loans - 2-5 years 141,403 Amtsunts falling due in more than fiv¢ y¢ars: Repayable by inslalmenls: Bank loans more S yr by instal IS7,998 Page 7 continued...
TFtE GURU NANAK GURDWARA WEST BROMWICH NOTES TO THE FINANCIAL STAI'EMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 fvtOVEiVIENT IN FUNDS movement in funds Ai 31.12.23 At 1.1.23 Unrestricted funds Gen¢ial fund 1,803,987 291,255 2,095,242 TO'fAL FUNDS 1,803,987 291,255 2,095,242 Net movement in funds, included in th¢ above are as follows: Incoming re50ur¢es Resources expended Movement in fvnds Unrestricted funds General fund 424,920 (133,665) 291,255 TOTAL FUNDS 424,920 (133,665) 291,255 CompAratives for movement in funds Nel movem¢nt in funds At 31.12.22 Ai 1.1.22 Unrestricted funds General fund 1,638,970 165,017 1,803.987 TOTAL FUNDS 1,638,970 165,017 1,803,987 Comparative net movement in funds. included in the above are as follows: Incoming resources Resources expei)ded Movement in ndS Unrestricted funds General fund 322.111 (157.094) 165,017 TOTAL FUNDS 322.11 1157.094) 165,017 Page 8 ontinued...
THE GURU NAN URDW ARA WEST BROMWICH NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined position is as follows.. Net rnovement in funds At 31.12.23 At 1.1.22 Unrestricted funds General fund 1,638.970 456.272 2,095.242 TOTAL FUNDS 1,638,970 456,272 2,095,242 A current year 12 months and prior year 12 months combined net movement in funds, included in the above ar¢ as follows.. Incoming resources Resources expended Movement in funds Uni'estricted funds G¢n¢ral fund 747.031 1290.759) 456,272 TOTAL FUNDS 747,031 (290,759) 456.272 io. RELATED PARTY DISCLOSURES Th¢r¢ were no related party transactions for the year ended 31 Dec¢mber 2023. Pag¢ 9
THE GURU NANAK GURDWARA WEST BROMWICH DE'fAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 31.12.23 31.12.22 INCOIME AND ENDOWMENTS l)onations xnd legAcie5 Gifts Donations Gift aid Bank interest 374,786 49,680 452 322.074 37 424,920 322,11 Total incoming resouiTes 424,920 322,111 EXPENDITURE Siipport costs MRnagement Wages Motor expenses Insurance Light and heal Telephone Postage and stationery Repair and renewals Consumable Kirtan and path group Security & fire protection 22,239 2,866 4,098 26,447 30,100 1.421 4.637 34,637 506 48 1.465 9.964 13,229 516 773 2,927 15,632 21,483 96,465 96.523 Finance Previous year loan interest Loan interest 44,449 14,257 25,120 25,120 58,706 Other Rates and water Telephone Cleaning Sundries Subscriptions 8,773 50 12 39 506 480 1,385 9,380 1.865 Govei'nance eosts Accountancy fees 2,700 This page does not form part of the statutory finan¢ial staternenls Page 10
THE URU NANAK GURDWARA WEST BR MWIC DETAILED STA TENNIT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 31.12.23 31.12.22 Total resources expended 133,665 157,094 Net iiicome 291,255 165,017 This page does nol form parl of the stalulory financial statements Page 11