REGISTERED CHARITY NUMBER: 512089
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
FOR
NANAKSAR GURDWARA GURSIKH TEMPLE
Shah & Co (Accountants) Ltd Chartered Certified Accountants Cash's Business Centre
1st Floor 228 Widdrington Road Coventry West Midlands CV1 4PB
NANAKSAR GURDWARA GURSIKH TEMPLE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. 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
Mr S Uppal Mr H Singh Mr B S Pandher Mr J S Dhillon Mr G S Berar Mr R Singh Mr K S Dhesi Secretary Mr D S Gill Trustee Mr B Johal Treasurer
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 ............................................. and signed on its behalf by:
............................................................................... Mr B S Pandher - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NANAKSAR GURDWARA GURSIKH TEMPLE
Independent examiner's report to the trustees of Nanaksar Gurdwara Gursikh Temple
I report to the charity trustees on my examination of the accounts of Nanaksar Gurdwara Gursikh Temple (the Trust) for the year ended 31 March 2025.
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 member of the Association of Chartered Certified 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
Shah & Co (Accountants) Ltd Chartered Certified Accountants Cash's Business Centre 1st Floor 228 Widdrington Road Coventry West Midlands CV1 4PB
Date: .............................................
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NANAKSAR GURDWARA GURSIKH TEMPLE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities 2 Investment income 3 Total EXPENDITURE ON Raising funds Charitable activities Charitable activities Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.3.25 Unrestricted fund £ 373,127 12,856 103,152 489,135 32,174 304,096 336,270 152,865 4,457,120 4,609,985 |
31.3.24 Total funds £ 412,846 9,856 83,204 505,906 44,171 284,308 328,479 177,427 4,279,693 4,457,120 |
|---|---|---|
The notes form part of these financial statements
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NANAKSAR GURDWARA GURSIKH TEMPLE
BALANCE SHEET 31 MARCH 2025
| Notes FIXED ASSETS Tangible assets 6 Investment property 7 CURRENT ASSETS Cash at bank and in hand CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 10 Unrestricted funds TOTAL FUNDS |
31.3.25 Unrestricted fund £ 4,452,758 546,500 4,999,258 55,665 (444,938) (389,273) 4,609,985 4,609,985 4,609,985 4,609,985 |
31.3.24 Total funds £ 4,399,727 546,500 4,946,227 99,175 (588,282) (489,107) 4,457,120 4,457,120 4,457,120 4,457,120 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mr B S Pandher - Trustee
The notes form part of these financial statements
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NANAKSAR GURDWARA GURSIKH TEMPLE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
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.
2.
OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 31.3.25 | 31.3.24 | |
| £ | £ | |
| Farm Income | 12,856 | 9,856 |
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NANAKSAR GURDWARA GURSIKH TEMPLE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
3. INVESTMENT INCOME
| Rents received Deposit account interest |
31.3.25 £ 102,903 249 103,152 |
31.3.24 £ 82,722 482 83,204 |
|---|---|---|
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
5.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM | Unrestricted fund £ |
|---|---|
| Donations and legacies | 412,846 |
| Other trading activities | 9,856 |
| Investment income | 83,204 |
| Total | 505,906 |
| EXPENDITURE ON | |
| Raising funds | 44,171 |
| Charitable activities | |
| Charitable activities | 284,308 |
| Total | 328,479 |
| NET INCOME | 177,427 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 4,279,693 |
| TOTAL FUNDS CARRIED FORWARD | 4,457,120 |
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NANAKSAR GURDWARA GURSIKH TEMPLE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
6. TANGIBLE FIXED ASSETS
| Freehold property £ COST At 1 April 2024 4,339,392 Additions - At 31 March 2025 4,339,392 DEPRECIATION At 1 April 2024 - Charge for year - At 31 March 2025 - NET BOOK VALUE At 31 March 2025 4,339,392 At 31 March 2024 4,339,392 7. INVESTMENT PROPERTY FAIR VALUE At 1 April 2024 and 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 9) Trade creditors Taxation and social security Other creditors |
Improvements to property £ - 51,696 51,696 - 452 452 51,244 - |
Fixtures and fittings £ 145,233 8,226 153,459 84,898 6,439 91,337 62,122 60,335 31.3.25 £ 383,780 2 435 60,721 444,938 |
Totals £ 4,484,625 59,922 4,544,547 84,898 6,891 91,789 4,452,758 4,399,727 £ 546,500 546,500 546,500 31.3.24 £ 537,485 (1) 98 50,700 588,282 |
|
|---|---|---|---|---|
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NANAKSAR GURDWARA GURSIKH TEMPLE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
9. 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 Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
At 1/4/24 £ 4,457,120 4,457,120 Incoming resources £ 489,135 489,135 At 1/4/23 £ 4,279,693 4,279,693 |
31.3.25 £ 383,780 50,000 433,780 Net movement in funds £ 152,865 152,865 Resources expended £ (336,270) (336,270) Net movement in funds £ 177,427 177,427 |
31.3.24 £ 537,485 50,000 587,485 At 31/3/25 £ 4,609,985 4,609,985 Movement in funds £ 152,865 152,865 At 31/3/24 £ 4,457,120 4,457,120 |
|
|---|---|---|---|---|
10. MOVEMENT IN FUNDS
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NANAKSAR GURDWARA GURSIKH TEMPLE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming Resources resources expended £ £ Unrestricted funds General fund 505,906 (328,479) TOTAL FUNDS 505,906 (328,479) A current year 12 months and prior year 12 months combined position is as follows: Net movement At 1/4/23 in funds £ £ Unrestricted funds General fund 4,279,693 330,292 TOTAL FUNDS 4,279,693 330,292 A current year 12 months and prior year 12 months combined net movement in funds, included in the above Incoming Resources resources expended £ £ Unrestricted funds General fund 995,041 (664,749) TOTAL FUNDS 995,041 (664,749) |
Movement in funds £ 177,427 177,427 At 31/3/25 £ 4,609,985 4,609,985 are as follow Movement in funds £ 330,292 330,292 |
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
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NANAKSAR GURDWARA GURSIKH TEMPLE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| 31.3.25 | 31.3.24 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Billboards Income | 7,497 | 5,664 |
| Donations | 18,656 | 20,627 |
| Gift aid | 33,096 | 31,844 |
| Golak | 186,947 | 205,221 |
| Weddings | 7,702 | 12,177 |
| Langar | 18,288 | 17,427 |
| Paths | 100,941 | 119,886 |
| Other trading activities | 373,127 | 412,846 |
| Farm Income | 12,856 | 9,856 |
| Investment income | ||
| Rents received | 102,903 | 82,722 |
| Deposit account interest | 249 | 482 |
| 103,152 | 83,204 | |
| Total incoming resources | 489,135 | 505,906 |
| EXPENDITURE | ||
| Other trading activities | ||
| Bank loan interest | 32,174 | 44,171 |
| Charitable activities | ||
| Wages | 48,382 | 36,746 |
| Rates and water | 20,179 | 9,695 |
| Insurance | 13,192 | 12,077 |
| Light and heat | 77,139 | 77,263 |
| Telephone | 2,127 | 1,400 |
| Postage and stationery | 506 | 530 |
| Gurmukhi Teachers | 12,741 | 10,775 |
| Cleaning | 2,197 | 2,803 |
| Motor Expenses | 78 | - |
| Functions & events | 65,882 | 69,839 |
| Travelling and preaching | 2,666 | - |
| Improvements to property | 452 | - |
| Fixtures and fittings | 6,440 | 6,537 |
| 251,981 | 227,665 |
This page does not form part of the statutory financial statements
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NANAKSAR GURDWARA GURSIKH TEMPLE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| 31.3.25 | 31.3.24 | |
|---|---|---|
| £ | £ | |
| Support costs | ||
| Management | ||
| Advertising | 1,600 | 502 |
| Computer cost | 1,868 | 337 |
| Finance | 3,468 | 839 |
| Bank charges | 1,772 | 2,278 |
| Information technology | ||
| Repairs and renewals | 35,396 | 45,349 |
| Sundries | 301 | 700 |
| Governance costs | 35,697 | 46,049 |
| Accountancy and legal fees | 1,380 | 1,380 |
| Legal fees | 9,798 | 6,097 |
| 11,178 | 7,477 | |
| Total resources expended | 336,270 | 328,479 |
| Net income | 152,865 | 177,427 |
This page does not form part of the statutory financial statements
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NANAKSAR GURDWARA GURSIKH TEMPLE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
| 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 | 9 |
| Detailed Statement of Financial Activities | 10 | to | 11 |