Gurdwara Sahib Sikh Temple & Centre
Charity No. 700754
Trustees' Report and Unaudited Accounts
31 December 2020
Gurdwara Sahib Sikh Temple & Centre Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Accounts | 6 to 11 |
| Detailed Statement of Financial Activities | 12 to 13 |
Page 1
Gurdwara Sahib Sikh Temple & Centre Trustees Annual Report
The Trustees present their report with the unaudited financial statements of the charity for the year ended 31 December 2020.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 700754
Trustees
The following Trustees served during the year:
Avtar Singh Dr Jatinder Singh Mehmi Harbans Singh Harjodh Singh Rai (Resigned 1 January 2020) Paramjit Singh Mudhar Randeep Singh Rehsi
Accountants
HCA Group Capital House 7 Sheepscar Court Northside Business Park Leeds LS7 2BB
OBJECTIVES AND ACTIVITIES
The Gurdwara Sahib Sikh Temple and Centre is an unincorporated registered charity. It is governed by a constitution, which was passed on 15 January 1988. The charity’s main aim is to provide religious and social needs for the Sikh community in Leeds. It also provides a day centre for the elderly and offers religious education to Sikh children.
FINANCIAL REVIEW
The financial statements are set out on pages 6 to 11. The trustees consider the financial performance of the charity during the year to have been satisfactory. The Statement of Financial Activities show net incoming resources for the year of a revenue nature of £46,406 and the total reserves at the year ended stand at £1,970,160.
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
Randeep Singh Rehsi Trustee 09 November 2021
Page 2
Gurdwara Sahib Sikh Temple & Centre Independent Examiners Report
Independent Examiner's Report to the trustees of Gurdwara Sahib Sikh Temple & Centre
I report to the trustees on my examination of the accounts of Gurdwara Sahib Sikh Temple & Centre for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales.
I have completed my examination. I can 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:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts did 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.
Raza Effendi MBA FCA
HCA Group Capital House 7 Sheepscar Court Northside Business Park Leeds LS7 2BB 09 November 2021
Page 3
Gurdwara Sahib Sikh Temple & Centre Statement of Financial Activities
for the year ended 31 December 2020
| Notes Income and endowments from: Donations and legacies 3 Investments 4 Other 5 Total Expenditure on: Raising funds 6 Charitable activities 7 Other 8 Total Net gains on investments Net income Transfers between funds Net income before other gains/(losses) Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2020 £ 178,590 - 15,000 |
Total funds 2020 £ 178,590 - 15,000 |
Total funds 2019 £ 272,280 59 15,000 |
|---|---|---|---|
| 193,590 19,128 16,595 111,461 |
193,590 19,128 16,595 111,461 |
287,339 95,779 14,246 121,195 |
|
| 147,184 - |
147,184 - |
231,220 - |
|
| 46,406 - |
46,406 - |
56,119 - |
|
| 46,406 | 46,406 | 56,119 | |
| 46,406 1,923,754 |
46,406 1,923,754 |
56,119 1,867,635 |
|
| 1,970,160 | 1,970,160 | 1,923,754 |
Page 4
Gurdwara Sahib Sikh Temple & Centre Balance Sheet
at 31 December 2020
| Charity No. 700754 Fixed assets Tangible assets 10 Current assets Stocks 11 Cash at bank and in hand Creditors:Amount falling due within one year 12 Net current assets Total assets less current liabilities Creditors:Amounts falling due after more than one year 13 Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 14 General funds 14 Total funds Approved by the trustees on 09 November 2021 |
2020 £ 1,820,000 1,820,000 538 150,122 150,660 (500) 150,160 1,970,160 - 1,970,160 1,970,160 1,970,160 1,970,160 1,970,160 |
2019 £ 1,820,000 |
|---|---|---|
| 1,820,000 538 154,217 |
||
| 154,755 (499) |
||
| 154,256 1,974,256 (50,502) |
||
| 1,923,754 | ||
| 1,923,754 | ||
| 1,923,754 | ||
| 1,923,754 | ||
| 1,923,754 | ||
And signed on their behalf by: Randeep Singh Rehsi Trustee 09 November 2021
Page 5
Gurdwara Sahib Sikh Temple & Centre Notes to the Accounts
for the year ended 31 December 2020
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes.
-
Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
-
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
-
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 6
Gurdwara Sahib Sikh Temple & Centre Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 7
Gurdwara Sahib Sikh Temple & Centre Notes to the Accounts
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
2 Statement of Financial Activities - prior year
| 2 Statement of Financial Activities - prior year |
|||
|---|---|---|---|
| Income and endowments from: Donations and legacies Investments Other Total Expenditure on: Raising funds Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Donations from individuals 4 Income from investments Interest receivable on bank deposits |
Unrestricted £ 178,590 178,590 |
Unrestricted funds 2019 £ 272,280 59 15,000 287,339 95,780 14,246 121,195 231,221 56,118 56,118 56,118 1,867,635 1,923,753 Total 2020 £ 178,590 178,590 Total 2020 £ - - |
Total funds 2019 £ 272,280 59 15,000 |
| 287,339 95,780 14,246 121,195 |
|||
| 231,221 | |||
| 56,118 | |||
| 56,118 | |||
| 56,118 1,867,635 |
|||
| 1,923,753 | |||
| Total 2019 £ 272,280 |
|||
| 272,280 | |||
| Total 2019 £ 59 |
|||
| 59 |
Page 8
Gurdwara Sahib Sikh Temple & Centre Notes to the Accounts
5 Other income
| Rental income 6 Expenditure on raising funds Costs of generating voluntary income Other direct costs of generating voluntary income Free kitchen running costs 7 Expenditure on charitable activities Expenditure on charitable activities Staff costs 8 Other expenditure Bank loan and overdraft interest payable Motor and travel costs Premises costs General administrative costs Legal and professional costs |
Unrestricted £ 15,000 15,000 |
Total 2020 £ 15,000 15,000 |
Total 2019 £ 15,000 |
|---|---|---|---|
| 15,000 | |||
| Unrestricted £ 14,547 4,581 19,128 Unrestricted £ 16,595 16,595 Unrestricted £ 801 190 99,931 10,539 - 111,461 |
Total 2020 £ 14,547 4,581 19,128 Total 2020 £ 16,595 16,595 Total 2020 £ 801 190 99,931 10,539 - 111,461 |
Total 2019 £ 74,001 21,778 |
|
| 95,779 | |||
| Total 2019 £ 14,246 |
|||
| 14,246 | |||
| Total 2019 £ 2,641 2,760 99,047 16,247 500 |
|||
| 121,195 |
9 Staff costs
No employee received emoluments in excess of £60,000.
Page 9
Gurdwara Sahib Sikh Temple & Centre Notes to the Accounts
10 Tangible fixed assets
| Cost or revaluation At 1 January 2020 At 31 December 2020 Net book values At 31 December 2020 At 31 December 2019 11 Stocks Finished goods 12 Creditors: amounts falling due within one year Accruals and deferred income |
2020 £ 538 538 2020 £ 500 500 |
£ 1,820,000 1,820,000 1,820,000 1,820,000 |
£ 1,820,000 |
|
|---|---|---|---|---|
| 1,820,000 | ||||
| 1,820,000 | ||||
| 1,820,000 | ||||
| 2019 £ 538 |
||||
| 538 | ||||
| 2019 £ 499 |
||||
| 499 | ||||
| 13 Creditors: amounts falling due after more than one year Bank loans and overdrafts 14 Movement in funds Restricted funds: Unrestricted funds: General funds Revaluation Reserves: Total funds |
At 1 January 2020 1,923,754 1,923,754 |
2020 £ - - |
2019 £ 50,502 |
|
| 50,502 | ||||
| Incoming resources (including other gains/losses ) £ 193,590 193,590 |
Resources expended £ (147,184) (147,184) |
At 31 December 2020 £ 1,970,160 |
||
| 1,970,160 |
Page 10
Gurdwara Sahib Sikh Temple & Centre Notes to the Accounts
15 Analysis of net assets between funds
| 15 Analysis of net assets between funds | |||
|---|---|---|---|
| Fixed assets Net current assets 16 Reconciliation of net debt Cash and cash equivalents Bank loans Net debt |
At 1 January 2020 £ |
Unrestricted funds £ 1,820,000 150,160 1,970,160 Cash flows £ |
Total £ 1,820,000 150,160 |
| 1,970,160 | |||
| At 31 December 2020 £ |
|||
| 154,217 | (4,095) | 150,122 | |
| 154,217 (50,502) |
(4,095) | 150,122 - |
|
| 50,502 | |||
| (50,502) 103,715 |
50,502 46,407 |
- | |
| 150,122 | |||
Page 11
Gurdwara Sahib Sikh Temple & Centre Detailed Statement of Financial Activities
for the year ended 31 December 2020
| Income and endowments from: Donations and legacies Investments Other Total income and endowments Expenditure on: Costs of generating donations and legacies Other associated expenses Total of expenditure on raising funds Charitable activities Total of expenditure on charitable activities Other expenditure Bank loan and overdraft interest payable Motor and travel costs Vehicles - General costs Premises costs Rates Light, heat and power Premises cleaning Premises insurances Premises repairs and maintenance |
Unrestricted funds 2020 £ 178,590 178,590 - - 15,000 15,000 193,590 14,547 4,581 19,128 19,128 16,595 16,595 16,595 801 801 190 190 5,455 29,534 2,181 7,033 55,728 99,931 |
Total funds 2020 £ 178,590 178,590 - - 15,000 15,000 193,590 14,547 4,581 19,128 19,128 16,595 16,595 16,595 801 801 190 190 5,455 29,534 2,181 7,033 55,728 99,931 |
Total funds 2019 £ 272,280 |
|---|---|---|---|
| 272,280 | |||
| 59 | |||
| 59 | |||
| 15,000 | |||
| 15,000 | |||
| 287,339 74,001 21,778 |
|||
| 95,779 | |||
| 95,779 14,246 |
|||
| 14,246 | |||
| 14,246 2,641 |
|||
| 2,641 | |||
| 2,760 | |||
| 2,760 | |||
| 11,860 35,300 5,761 8,514 37,612 |
|||
| 99,047 |
Page 12
Gurdwara Sahib Sikh Temple & Centre Detailed Statement of Financial Activities
| General administrative costs, including depreciation and amortisation Bank charges Stationery and printing Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Total of expenditure of other costs Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
650 2,049 6,387 1,453 10,539 - - 111,461 147,184 - 46,406 46,406 - 46,406 1,923,754 1,970,160 |
650 2,049 6,387 1,453 10,539 - - 111,461 147,184 - 46,406 46,406 - 46,406 1,923,754 1,970,160 |
1,331 5,452 8,194 1,270 |
|---|---|---|---|
| 16,247 | |||
| 500 | |||
| 500 | |||
| 121,195 | |||
| 231,220 - |
|||
| 56,119 | |||
| 56,119 - |
|||
| 56,119 | |||
| 1,867,635 | |||
| 1,923,754 |
Page 13