Charity Registration No. 0512435
SIKH TEMPLE TRUST - NOTTINGHAM ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
SIKH TEMPLE TRUST - NOTTINGHAM
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr Baldev Singh Johal Mr Sermukh Singh Atwal - Vice President (Appointed 28 June 2020) Mr Jaswinder Singh Basi Mrs Surinder Kaur Samra Mrs Gurdev Kaur Mr Malkiat Singh Hayer Mr Buta Singh Johal Mr Gurjeet Singh Purawal - General Secretary (Appointed 28 June 2020) Mr Pavandeep Singh Athwal Mrs Ravinder Kaur Bains Mr Balraj Singh Johal - President (Appointed 28 June 2020) Mr Jaswant Singh Dhillon - Assistant Secretary (Appointed 28 June 2020) Mr Chander Parkash Saini - Assistant Treasurer (Appointed 28 June 2020) Mr Harbhajan Singh Bawa Mr Surjit Singh Johal - Treasurer (Appointed 28 June 2020)
Secretary
Mr Gurjeet Singh Purawal - General Secretary
Charity number 0512435 Principal address 26 Nottingham Road Basford Nottingham Nottinghamshire England NG7 7AE
Independent examiner Andersons Accountant & Tax Advisors Ltd t/as Patara Enterprise House 352 Bearwood Rd Bearwood Birmingham B66 4ET
SIKH TEMPLE TRUST - NOTTINGHAM
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Statement of cash flows | 8 |
| Notes to the financial statements | 9 - 18 |
SIKH TEMPLE TRUST - NOTTINGHAM
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 AUGUST 2020
The trustees present their report and accounts for the year ended 31 August 2020.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the trust's Scheme of 1st December 1981 as varied by a scheme of 8th September 1982 and order of 15th August 2003 , the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016)
The Sikh Temple Trust, Nottingham was set up on the 21st September 1965. At that time the term audit was intended to cover an external examination which was not within the meaning of current term of a statutory audit.
The Trustees has interpreted the meaning of the word audit in the Sikh Temple Trust, Nottingham to apply the higher standard of scrutiny required by the statutory framework applicable for the relevant financial years.
Objectives and activities
To promote the Sikh religion in the City of Nottingham and Nottinghamshire by the maintenance of a Temple (Gurdwara for the worship ) , the celebration of religious festivals, conduct of baptism, marriages and funeral rites in accordance with the Sikh religion observances and by such other means deemed appropriate by the trustees.
The policies adopted in furtherance of these objectives are the provision of a place of worship - Gurdwara and there has been no change in these during the year.
The aims of the charity is to provide a place for the provision of public Sikh ceremonies/programs for the benefit of the local Sikh community so that they can practise their religion.
The objective for the year is to provide a place of worship including provision of wedding ceremonies for the local Sikh community. The promotion of the teaching of the Sikh faith and Sikh culture, in accordance with the needs of the local Sikh community Gurdwara membership.
The current project is to prepare for the new build which will provide for a second langar hall (place for eating) and a second Divan hall (prayer hall) for religious ceremonies and other community services.
The Charity raises enough money to be able to finance the running costs of the Gurdwara and makes special appeals to the congregation to raise additional funds for any specific projects. Additional funds are being raised from the congregation to fund the completion of extension to Gurdwara (new build) to meet the increasing needs of the members.
The trustee have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The Gurdwara carried out the following activities during the year:
The provision of a place of worship - Gurdwara - including a place for wedding ceremonies for the local Sikh community, advancement of Sikh religion, celebration of Sikh religious festivals and the advancement of education in the Sikh religion.
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the trust continues and that the appropriate training is arranged. It is the policy of the trust that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.
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SIKH TEMPLE TRUST - NOTTINGHAM
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
The Gurdwara relies heavily on the involvement of volunteers from the community. One of the Sikh religion's basic practise is "Sewa", free service for the community and serving mankind. The members have volunteered considerable amount of time to support the running of the Gurdwara.
Achievements and performance
The Charity is fulfilling it's main objective of providing a place of worship, provision of wedding ceremonies and celebration of Sikh religious festivals for the local Sikh community satisfactorily.
Through the purchase of adjoining and closely located property increased its land “footprint”. It is able to provide for a further 50 parking places and this has been the key to obtaining full planning permission for the new build. The project is now in a position to move forward so that provision can be made to meet the positive increasing demand in services.
Planning for the medium to long term future of the Gurdwara is imperative to its success and the religious
wellbeing.
The Gurdwara has successful ly continued to increase its activity in promoting the Sikh religion and culture though teaching and related activities.
Financial review
The Gurdwara is funded by donations and gifts from the congregation as well as income raised from carrying out ceremonies and religious events.
It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the trust’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The principal sources of income is the donations from the local congregation/membership and income raised
from carrying out of Sikh religious ceremonies.
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
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SIKH TEMPLE TRUST - NOTTINGHAM
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
COVID-19 & BREXIT.
This has made an unprecedented global economic impact with lockdowns and business closures - the long term impacts are unclear.
The impact of COVID-19 on the financial statements is generally considered a non-adjusting event. The Gurdwara has had to close it's premises temporarily in line with Government policy of dealing with CoVid 19 virus. The Gurdwara has resorted to Government Support in the form of Grants and Furlough scheme.
The Gurdwara's income and surplus may suffer as a result of lockdowns measures enforced by the Government but it has sufficient funds to survive in the short to medium term.
In order to preserve reserves the Trustee's have agreed with the bank to only pay interest on the loans from April 2020 onward.
Although it is not yet possible to predict the overall potential impacts of the COVID-19 outlook on the overall UK economy and the uncertainty it causes, the Trustee's are confident that the discovery of the vaccine will reduce any major impact of COVID-19 on the Gurdwara.
The principal risks and uncertainties facing the Gurdwara is Brexit and the COVID-19. Brexit does not have direct impact on the Gurdwara other than that in line with the general effect on the British economy and the uncertainty it causes to the community in general. With regards COVID-19 the future is still uncertain but the Gurdwara is managing the risk in a satisfactory manner.
The charity is looking to improve on the services it provided from the Gurdwara, this will includes the n ew build to provide second Langar, Divan Hall and teaching areas.
Structure, governance and management
The charity is an unincorporated charity registered with The Charity Commission of England and Wales on the 23rd March 1982 with Charity number 512435.
The Charity is governed by The Scheme known as Sikh Temple Trust Nottingham.
The title of the freehold premises is registered in the names of Dr Romeshwar Singh Sandhu ( passed away on 11th April 2020) , Mr Resham Singh Samra , Mr Lashkar Singh Bilan and Mr Amrik Singh Sanghera the property holding Trustees.
Under the basic principal of Sikhism the premises are open to all with the restriction that no alcohol, tobacco, meat or drugs are allowed on the premises.
| The elected trustees who served during the year | were: |
|---|---|
| Mr Baldev Singh Johal | |
| Mr Sermukh Singh Atwal - Vice President | (Appointed 28 June 2020) |
| Mr Jaswinder Singh Basi | |
| Mrs Surinder Kaur Samra | |
| Mrs Gurdev Kaur | |
| Mr Malkiat Singh Hayer | |
| Mr Buta Singh Johal | |
| Mr Gurjeet Singh Purawal - General Secretary | (Appointed 28 June 2020) |
| Mr Pavandeep Singh Athwal | |
| Mrs Ravinder Kaur Bains | |
| Mr Balraj Singh Johal - President | (Appointed 28 June 2020) |
| Mr Jaswant Singh Dhillon - Assistant Secretary | (Appointed 28 June 2020) |
| Mr Chander Parkash Saini - Assistant Treasurer | (Appointed 28 June 2020) |
| Mr Harbhajan Singh Bawa | |
| Mr Surjit Singh Johal - Treasurer | (Appointed 28 June 2020) |
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SIKH TEMPLE TRUST - NOTTINGHAM
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
The trustees are elected from the membership.
All trust property is held in the names of the property holding trustees on behalf of the membership.
The premises are run by the community for the benefit of the community led by elected management committee. The management committee trustees are appointed by the membership though democratic election in accordance with its constitution. The management committee consists of a President, Vice President, General Secretary, Vice Secretary, Treasurer and Vice Treasurer plus nine committee members who serve on a number of sub - committees including Giani ( priest), Building, Education & Sports and Kitchen.
The Gurdwara does not have any related parties .
On behalf of the board of Trustees
Mr Gurjeet Singh Purawal - General Secretary
Secretary Dated: 13 July 2021
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SIKH TEMPLE TRUST - NOTTINGHAM
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SIKH TEMPLE TRUST - NOTTINGHAM
We report on the accounts of the trust for the year ended 31 August 2020, which are set out on pages to 18.
Respective responsibilities of trustees and examiner
The trust’s trustees are responsible for the preparation of the financial statements. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination being a qualified member of ICAEW - Chartered Accountants.
It is my responsibility to:
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(i) examine the financial statements under section 145 of the 2011 Act;
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(ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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(iii) to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has no w been withdrawn.
I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In connection with my examination, no other matter except that referred to in the previous paragraph has come to my attention:
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(a) which gives me reasonable cause to believe that in any material respect the requirements:
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(i) to keep accounting records in accordance with section 130 of the 2011 Act; and
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(ii) to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the 2011 Act;
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have not been met or
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(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Talwinder S Patara FCA
Andersons Accountant & Tax Advisors Ltd t/as Patara
ICAEW - Chartered Accountants 352 Bearwood Rd Bearwood Birmingham B66 4ET Dated: 13 July 2021
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SIKH TEMPLE TRUST - NOTTINGHAM
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2020
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2020 | 2019 | ||
| Notes | £ |
£ | |
| Income from: | |||
| Donations and gifts. | 3 | 271,875 | 546,492 |
| Investments | 4 | 45,044 | 50,503 |
| Total income | 316,919 | 596,995 | |
| Expenditure on: | |||
| Charitable activities | |||
| Gurdwara costs | 5 | 76,173 | 97,577 |
| Donations | 5 | 7,500 | 7,025 |
| Religion Promotion | 5 | 38,976 | 28,642 |
| Rental Income | 5 | 11,450 | 14,020 |
| Total charitable expenditure | 134,099 | 147,264 | |
| Governance costs | 9 | 38,912 | 35,849 |
| Total resources expended | 173,011 | 183,113 | |
| Net income for the year/ | |||
| Net movement in funds | 143,908 | 413,882 | |
| Fund balances at 1 September 2019 | 2,025,768 | 1,611,886 | |
| Fund balances at 31 August 2020 | 2,169,676 | 2,025,768 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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SIKH TEMPLE TRUST - NOTTINGHAM
BALANCE SHEET
AS AT 31 AUGUST 2020
| Notes Fixed assets Tangible assets 10 Current assets Stocks 11 Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 15 Net assets Income funds Unrestricted funds - general |
2020 £ £ 2,128,179 335 72,348 843,845 916,528 (116,832) 799,696 2,927,875 (758,199) 2,169,676 2,169,676 2,169,676 |
2019 £ £ 2,094,153 335 74,644 783,313 858,292 (132,240) 726,052 2,820,205 (794,437) 2,025,768 2,025,768 2,025,768 |
|---|---|---|
The financial statements were approved by the Trustees on 13 July 2021
Mr Balraj Singh Johal - President Mr Surjit Singh Johal - Treasurer Trustee Trustee
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SIKH TEMPLE TRUST - NOTTINGHAM
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2020
| Notes Cash flows from operating activities Cash generated from operations 17 Investing activities Purchase of tangible fixed assets Rental Income Net cash generated from/(used in) investing activities Financing activities Proceeds of new bank loans Repayment of bank loans Net cash (used in)/generated from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year |
2020 £ (35,672) 45,044 - (37,053) |
2019 £ £ £ 88,213 544,647 (835,946) 50,503 9,372 (785,443) 160,000 219,176 (37,053) 379,176 60,532 138,380 783,313 644,934 843,846 783,313 |
|---|---|---|
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SIKH TEMPLE TRUST - NOTTINGHAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
1 Accounting policies
1.1 Accounting convention
The accounts have been prepared in accordance with the trust's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The trust is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling , which is the functional currency of the trust. Monetary a mounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Tangible Assets - Property, plant and equipment are held for, in use of supply of religious services and rental to others for more than one period.
Therefore, the company recognise the assets at cost as it is probable that future economic benefits associated with the assets will flow to the company and the cost of the assets is measured reliably.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.4 Income
Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.5 Expenditure
Governance costs includes legal and professional costs which are not capable of being allocated to any charitable activity.
The charity has only a few relevant activity categories on which resources are expended and as such the costs between the different categories are easily allocated without the use of any method of apportionment.
Place of Worship
The charity provides a place of worship - Gurdwara - for wedding ceremonies for the local Sikh community, advancement of Sikh religion, celebration of Sikh religious festivals and the advancement of education in the Sikh religion.
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SIKH TEMPLE TRUST - NOTTINGHAM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
1 Accounting policies
(Continued)
Donations
The charity provides small amount of donations to local community organisations with similar objectives.
Religion Promotion
The charity carries out various events to promote the basic principles of the Sikh religion.
Rental Income
The Gurdwara has properties within the vicinity of the temple to generate rental income to fund activities of the Gurdwara.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings See note below. Fixtures, fittings & equipment 15% Reducing balance Motor vehicles 25% Reducing balance.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
No Depreciation.
No depreciation is provided in respect of freehold land and buildings. The company has a policy of regular maintenance and repair, so that the asset maintains its performance standards. The assets are not expected to suffer from economic or technological obsolescence and the estimated residual values are material. An impairment review is carried out annually on the tangible fixed assets other than nondepreciable land), at the end of each accounting period, where: - no depreciation is charged as it is deemed immaterial because of the length of the remaining useful economic life or where the estimated residual value is not markedly different from the carrying amount; or - the tangible fixed assets estimated useful economic life exceeds 50 years.
1.7 Impairment of fixed assets
At each reporting end date, the trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
1.8 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell .
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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SIKH TEMPLE TRUST - NOTTINGHAM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
1 Accounting policies
(Continued)
1.10 Financial instruments
The trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the trust's balance sheet when the trust becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
In the application of the trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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SIKH TEMPLE TRUST - NOTTINGHAM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
3 Donations and gifts.
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Donations and gifts | 166,490 | 232,328 |
| Gift Aid | 44,586 | 174,907 |
| Other Donations - New Building Fund | 60,799 | 139,257 |
| 271,875 | 546,492 | |
| Investments | ||
| Unrestricted | Unrestricted | |
| funds | funds | |
| general | general | |
| 2020 | 2019 | |
| £ | £ | |
| Rental income | 44,499 | 49,839 |
| Interest receivable | 545 | 664 |
| 45,044 | 50,503 |
4 Investments
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SIKH TEMPLE TRUST - NOTTINGHAM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
5 Charitable activities
| Gurdwara costs Donations Religion Promotion 2020 2020 2020 £ £ £ Depreciation and impairment 1,646 - - Rates and water 421 - - Insurance 3,875 - - Heat and Lighting 10,855 - - Food 12,302 - - Teachers - - - Preachers - - 38,976 Repairs and renewals 23,442 - - Telephone and Internet 892 - - Motor Expenses 1,686 - - Advertising 1,400 - - Coach hire and travel 3,472 - - Donations - School and Hockey Club - 7,500 - Print, post and stationery 3,457 - - Cleaning and waste disposals 5,751 - - Licence Fees - - - Other charitable expenditure 6,974 - - 76,173 7,500 38,976 76,173 7,500 38,976 |
Rental Income 2020 £ - - - - - - - 11,450 - - - - - - - - - 11,450 11,450 |
Total 2020 £ 1,646 421 3,875 10,855 12,302 - 38,976 34,892 892 1,686 1,400 3,472 7,500 3,457 5,751 - 6,974 134,099 134,099 |
Total 2019 £ 1,916 1,346 4,365 14,438 24,360 3,500 25,142 31,420 883 1,206 1,130 4,230 7,025 1,851 5,801 250 18,401 147,264 147,264 |
|---|---|---|---|
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SIKH TEMPLE TRUST - NOTTINGHAM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
5 Charitable activities (Continued)
For the year ended 31 August 2019
| Gurdwara costs Donations Religion Promotion £ £ £ Depreciation and impairment 1,916 - - Rates and water 1,346 - - Insurance 4,365 - - Heat and Lighting 14,438 - - Food 24,360 - - Teachers - - 3,500 Preachers - - 25,142 Repairs and renewals 17,400 - - Telephone and Internet 883 - - Motor Expenses 1,206 - - Advertising 1,130 - - Coach hire and travel 4,230 - - Donations - School and Hockey Club - 7,025 - Print, post and stationery 1,851 - - Cleaning and waste disposals 5,801 - - Licence Fees 250 - - Other charitable expenditure 18,401 - - 97,577 7,025 28,642 97,577 7,025 28,642 Analysis by fund Unrestricted funds - general 97,577 7,025 28,642 |
Rental Income £ - - - - - - - 14,020 - - - - - - - - - 14,020 14,020 14,020 |
Total 2019 £ 1,916 1,346 4,365 14,438 24,360 3,500 25,142 31,420 883 1,206 1,130 4,230 7,025 1,851 5,801 250 18,401 147,264 147,264 147,264 |
|---|---|---|
6 Description of charitable activities
Gurdwara costs
The charity provides a place of worship - Gurdwara - for wedding ceremonies for the local Sikh community, advancement of Sikh religion, celebration of Sikh religious festivals and the advancement of education in the Sikh religion.
Donations
The charity provides small amount of donations to local community organisations with similar objectives.
Religion Promotion
The charity promotes the basic principles of Sikh religion.
Rental Income
The Gurdwara has properties within the vicinity of the temple to generate rental income to fund activities of the Gurdwara.
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SIKH TEMPLE TRUST - NOTTINGHAM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.
8 Employees
The average monthly number of employees during the year was:
| 2020 | 2019 | |
|---|---|---|
| Number | Number | |
| Preachers | 2 | 2 |
| There were no employees whose annual remuneration was £60,000 or more. | ||
| Governance costs | ||
| 2020 | 2019 | |
| £ | £ | |
| Accountancy fees | 1,750 | 1,750 |
| Legal and professional fees | 3,204 | - |
| Bank loan interest | 33,958 | 34,099 |
| 38,912 | 35,849 |
9 Governance costs
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SIKH TEMPLE TRUST - NOTTINGHAM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
| 10 Tangible fixed assets Cost At 1 September 2019 Additions At 31 August 2020 Depreciation and impairment At 1 September 2019 Depreciation charged in the year At 31 August 2020 Carrying amount At 31 August 2020 At 31 August 2019 11 Stocks Finished goods and goods for resale 12 Debtors Amounts falling due within one year: Other debtors Prepayments and accrued income 13 Loans and overdrafts Bank loans Payable within one year Payable after one year |
Land and buildings £ 2,083,477 35,438 2,118,915 - - - 2,118,915 2,083,477 |
Fixtures, fittings & equipment Motor vehicles £ £ 23,926 5,100 234 - 24,160 5,100 13,673 4,677 1,561 85 15,234 4,762 8,926 338 10,253 423 2020 £ 335 2020 £ 1,721 70,627 72,348 2020 £ 798,760 40,561 758,199 |
Total £ 2,112,503 35,672 2,148,175 18,350 1,646 19,996 2,128,179 2,094,153 2019 £ 335 2019 £ 2,970 71,674 74,644 2019 £ 835,813 41,376 794,437 |
|---|---|---|---|
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SIKH TEMPLE TRUST - NOTTINGHAM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
13 Loans and overdrafts
(Continued)
The long-term loans are secured by fixed charges over the assets of the trust.
14 Creditors: amounts falling due within one year
| Notes Bank loans 13 Other taxation and social security Trade creditors Other creditors Accruals and deferred income 15 Creditors: amounts falling due after more than one year Notes Bank loans 13 16 Related party transactions There were no disclosable related party transactions during the year (2019 - none). 17 Cash generated from operations Surplus for the year Adjustments for: Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets Movements in working capital: Decrease in debtors (Decrease)/increase in creditors Cash generated from operations |
2020 £ 40,561 373 3,778 70,370 1,750 116,832 2020 £ 758,199 2020 £ 143,908 (45,044) 1,646 2,296 (14,593) 88,213 |
2019 £ 41,376 204 20,540 68,370 1,750 132,240 2019 £ 794,437 2019 £ 413,882 (50,503) 1,916 96,573 82,779 544,647 |
|---|---|---|
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SIKH TEMPLE TRUST - NOTTINGHAM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
| 18 | Analysis of changes in net funds/(debt) | |||
|---|---|---|---|---|
| At 1 September | Cash flows | At 31 August | ||
| 2019 | 2020 | |||
| £ | £ | £ | ||
| Cash at bank and in hand | 783,313 | 60,532 | 843,845 | |
| Loans falling due within one year | (41,376) | 815 | (40,561) | |
| Loans falling due after more than one year | (794,437) | 36,238 | (758,199) | |
| (52,500) | 97,585 | 45,085 |
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