REGISTERED CHARITY NUMBER: 512089
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
FOR
NANKSAR GURDWARA GURSIKH TEMPLE
Shah & Co (Accountants) Ltd Chartered Certified Accountants Cash's Business Centre 1st Floor 228 Widdrington Road Coventry West Midlands CV1 4PB
NANKSAR GURDWARA GURSIKH TEMPLE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objective of the Temple , as set out in the constitution, is to serve the community.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
512089
Principal address
224-226 FOLESHILL ROAD COVENTRY CV1 4HW
Trustees
S Uppal H Singh B S Pandher J S Dhillon G S Berar R Singh S S Gill K S Dhesi
Independent Examiner
Shah & Co (Accountants) Ltd Chartered Certified Accountants Cash's Business Centre 1st Floor 228 Widdrington Road Coventry West Midlands CV1 4PB
Approved by order of the board of trustees on 25 November 2022 and signed on its behalf by:
B S Pandher - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NANKSAR GURDWARA GURSIKH TEMPLE
Independent examiner's report to the trustees of Nanksar Gurdwara Gursikh Temple
I report to the charity trustees on my examination of the accounts of Nanksar Gurdwara Gursikh Temple (the Trust) for the year ended 31 March 2022.
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 report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent 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 that I am qualified to undertake the examination because I am a registered member of Association of certified chartered accountants which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
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 reached.
Shah & Co (Accountants) Ltd Association of certified chartered accountants Shah & Co (Accountants) Ltd Chartered Certified Accountants Cash's Business Centre 1st Floor 228 Widdrington Road Coventry West Midlands CV1 4PB
25 November 2022
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NANKSAR GURDWARA GURSIKH TEMPLE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities 2 Investment income 3 Other income Total EXPENDITURE ON Raising funds Charitable activities Charitable activities Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.3.22 Unrestricted fund £ 286,538 14,788 85,100 2,903 389,329 19,450 211,454 230,904 158,425 3,965,138 4,123,563 |
31.3.21 Total funds £ 103,139 26,053 50,900 - 180,092 20,636 119,357 139,993 40,099 3,925,039 3,965,138 |
|---|---|---|
The notes form part of these financial statements
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BALANCE SHEET 31 MARCH 2022
| Notes FIXED ASSETS Tangible assets 6 Investment property 7 CURRENT ASSETS Debtors 8 Cash at bank and in hand CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
31.3.22 Unrestricted fund £ 4,385,394 546,500 4,931,894 8,839 169,367 178,206 (986,537) (808,331) 4,123,563 4,123,563 4,123,563 4,123,563 |
31.3.21 Total funds £ 4,379,565 546,500 4,926,065 8,839 123,558 132,397 (1,093,324) (960,927) 3,965,138 3,965,138 3,965,138 3,965,138 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 25 November 2022 and were signed on its behalf by:
B S Pandher - Trustee
The notes form part of these financial statements
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 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 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 funds, 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 constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
2. OTHER TRADING ACTIVITIES
3.
| 31.3.22 | 31.3.21 | |
|---|---|---|
| £ | £ | |
| Farm Income | 14,788 | 8,803 |
| Network Rail | - | 17,250 |
| 14,788 | 26,053 | |
| INVESTMENT INCOME | ||
| Rents received | 31.3.22 £ 84,700 |
31.3.21 £ 50,687 |
| Deposit account interest | 400 | 213 |
| 85,100 | 50,900 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities Investment income Total EXPENDITURE ON Raising funds Charitable activities Charitable activities Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 103,139 26,053 50,900 180,092 20,636 119,357 139,993 40,099 3,925,039 3,965,138 |
|---|---|
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
6. TANGIBLE FIXED ASSETS
| Fixtures Freehold and property fittings £ £ COST At 1 April 2021 4,339,392 108,417 Additions - 10,971 Disposals - - At 31 March 2022 4,339,392 119,388 DEPRECIATION At 1 April 2021 - 68,441 Charge for year - 4,945 Eliminated on disposal - - At 31 March 2022 - 73,386 NET BOOK VALUE At 31 March 2022 4,339,392 46,002 At 31 March 2021 4,339,392 39,976 7. INVESTMENT PROPERTY FAIR VALUE At 1 April 2021 and 31 March 2022 NET BOOK VALUE At 31 March 2022 At 31 March 2021 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments |
Motor vehicles £ 3,500 - (3,500) - 3,303 - (3,303) - - 197 31.3.22 £ 8,839 |
Totals £ 4,451,309 10,971 (3,500) 4,458,780 71,744 4,945 (3,303) 73,386 4,385,394 4,379,565 £ 546,500 546,500 546,500 31.3.21 £ 8,839 |
|---|---|---|
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Bank loans and overdrafts (see note 10) Taxation and social security Other creditors LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Other loans MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
At 1/4/21 £ 3,965,138 3,965,138 Incoming resources £ 389,329 389,329 |
31.3.22 £ 935,435 402 50,700 986,537 31.3.22 £ 935,435 50,000 985,435 Net movement in funds £ 158,425 158,425 Resources expended £ (230,904) (230,904) |
31.3.21 £ 942,190 434 150,700 1,093,324 31.3.21 £ 942,190 150,000 1,092,190 At 31/3/22 £ 4,123,563 4,123,563 Movement in funds £ 158,425 158,425 |
|
|---|---|---|---|---|
10. LOANS
11. MOVEMENT IN FUNDS
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1/4/20 £ Unrestricted funds General fund 3,925,039 TOTAL FUNDS 3,925,039 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 180,092 TOTAL FUNDS 180,092 A current year 12 months and prior year 12 months combined position is as follows: At 1/4/20 £ Unrestricted funds General fund 3,925,039 TOTAL FUNDS 3,925,039 |
Net movement in funds £ 40,099 40,099 Resources expended £ (139,993) (139,993) Net movement in funds £ 198,524 198,524 |
At 31/3/21 £ 3,965,138 3,965,138 Movement in funds £ 40,099 40,099 At 31/3/22 £ 4,123,563 4,123,563 |
|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 569,421 569,421 |
Resources Movement expended in funds £ £ (370,897) 198,524 (370,897) 198,524 |
|---|---|---|
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
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NANKSAR GURDWARA GURSIKH TEMPLE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| 31.3.22 | 31.3.21 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Billboards Income | 7,527 | 1,799 |
| Donations | 15,483 | 36,931 |
| Gift aid | 63,479 | 3,750 |
| Golak | 115,030 | 40,613 |
| Weddings | 5,800 | 2,900 |
| Langar | 10,931 | 6,815 |
| Paths | 68,288 | 10,331 |
| Other trading activities | 286,538 | 103,139 |
| Farm Income | 14,788 | 8,803 |
| Network Rail | - | 17,250 |
| Investment income | 14,788 | 26,053 |
| Rents received | 84,700 | 50,687 |
| Deposit account interest | 400 | 213 |
| Other income | 85,100 | 50,900 |
| Gain on sale of tangible fixed assets | 2,903 | - |
| Total incoming resources | 389,329 | 180,092 |
| EXPENDITURE | ||
| Other trading activities | ||
| Bank interest | 19,450 | - |
| Bank loan interest | - | 20,636 |
| 19,450 | 20,636 | |
| Charitable activities | ||
| Wages | 15,476 | 16,325 |
| Pensions | 1,199 | 1,085 |
| Hire of plant and machinery | 6,260 | - |
| Rates and water | 4,118 | 5,044 |
| Insurance | 12,702 | 16,361 |
| Light and heat | 40,663 | 34,707 |
| Telephone | 2,712 | 2,387 |
| Postage and stationery | 1,179 | 638 |
| Sundries | 311 | - |
| Gurmukhi Teachers | 6,732 | 244 |
| Carried forward | 91,352 | 76,791 |
This page does not form part of the statutory financial statements
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| DETAILED STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|
| FOR THE YEAR ENDED 31 MARCH 2022 | ||
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| Charitable activities | ||
| Brought forward | 91,352 | 76,791 |
| Cleaning | 1,940 | 476 |
| Motor Expenses | 301 | 305 |
| Functions & events | 11,642 | 807 |
| Fixtures and fittings | 4,945 | 4,275 |
| Motor vehicles | - | 66 |
| Support costs | 110,180 | 82,720 |
| Finance | ||
| Bank charges | 2,020 | 1,022 |
| Information technology | ||
| Repairs and renewals | 98,254 | 34,615 |
| Governance costs | ||
| Accountancy and legal fees | 1,000 | 1,000 |
| Total resources expended | 230,904 | 139,993 |
| Net income | 158,425 | 40,099 |
This page does not form part of the statutory financial statements
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CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 10 |
| Detailed Statement of Financial Activities | 11 | to | 12 |