2021-12-31-accounts - The Sikh Temple

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Gurdwara Sahib Sikh Temple & Centre

Charity No. 700754

Trustees' Report and Unaudited Accounts

31 December 2021

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 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 700754

Trustees

The following trustees served during the year:

Avtar Singh Dr Jatinder Singh Mehmi Harbans Singh Paramjit Singh Mudhar Randeep Singh Rehsi

Accountants

KJA Huque Chaudhry 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 5 to 13. The trustees consider the financial performance of the charity during the year to have been satisfactory. The Statement of Financial Activities show net expenditure for the year of a revenue nature of £63,307 and the total reserves at the year ended stand at £1,906,235.

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.

Page 2

Gurdwara Sahib Sikh Temple & Centre Trustees Annual Report

Signed on behalf of the charity's trustees

Dr Jatinder Singh Mehmi Trustee 05 September 2022

Page 3

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 financial statements of Gurdwara Sahib Sikh Temple & Centre for the year ended 31 December 2021 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 financial statements 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 financial statements 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

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 financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.

A R Effendi

KJA Huque Chaudhry Capital House 7 Sheepscar Court Northside Business Park Leeds LS7 2BB 05 September 2022

Page 4

Gurdwara Sahib Sikh Temple & Centre Statement of Financial Activities

for the year ended 31 December 2021

Unrestricted funds	Total funds	Total funds
2021	2021	2020
£	£	£

200,823	200,823	193,590
20,353	20,353	-
221,176	221,176	193,590

30,914	30,914	19,128
23,671	23,671	16,595
229,898	229,898	111,461
284,483	284,483	147,184
-	-	-
(63,307)	(63,307)	46,406
-	-	-
(63,307)	(63,307)	46,406

(63,307)	(63,307)	46,406

1,969,542	1,969,542	1,923,754
1,906,235	1,906,235	1,970,160

Page 5

Gurdwara Sahib Sikh Temple & Centre Balance Sheet

at 31 December 2021

Charity No. 700754 Fixed assets Tangible assets 9 Current assets Stocks 10 Cash at bank and in hand Creditors:Amount falling due within one year 11 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Unrestricted funds 12 General funds Total funds	2021 £ 1,820,000 1,820,000 538 86,197 86,735 (500) 86,235 1,906,235 1,906,235 1,906,235	2020 £ 1,820,000
		1,820,000 538 150,122
		150,660 (500)
		150,160 1,970,160
		1,970,160
		1,970,160



	1,906,235 1,906,235 1,906,235	1,969,542
		1,969,542
		1,969,542

Approved by the trustees on 05 September 2022

And signed on their behalf by:

Dr Jatinder Singh Mehmi Trustee 05 September 2022

Page 6

Gurdwara Sahib Sikh Temple & Centre Notes to the Accounts

for the year ended 31 December 2021

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 7

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 8

Gurdwara Sahib Sikh Temple & Centre Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

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.

Page 9

Gurdwara Sahib Sikh Temple & Centre Notes to the Accounts

2 Statement of Financial Activities - prior year

2 Statement of Financial Activities - prior year
Income and endowments from: Donations and legacies 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 4 Other income Refunds from Utilities Insurance Claim Bank Interest Received	Unrestricted £ 200,823 200,823 Unrestricted £ 11,155 9,142 56 20,353	Unrestricted funds 2020 £ 178,590 15,000 193,590 19,128 16,595 111,461 147,184 46,406 46,406 46,406 1,923,754 1,970,160 Total 2021 £ 200,823 200,823 Total 2021 £ 11,155 9,142 56 20,353	Total funds 2020 £ 178,590 15,000
			193,590 19,128 16,595 111,461
			147,184
			46,406
			46,406
			46,406 1,923,754
			1,970,160
			Total 2020 £ 193,590
			193,590
			Total 2020 £ - - -
			-

Page 10

Gurdwara Sahib Sikh Temple & Centre Notes to the Accounts

5 Expenditure on raising funds Costs of generating voluntary income Other direct costs of generating voluntary income Free Kitchen running costs 6 Expenditure on charitable activities Expenditure on charitable activities Staff Costs 7 Other expenditure Bank loan and overdraft interest payable Motor and travel costs Premises costs General administrative costs Legal and professional costs 8 Staff costs No employee received emoluments in excess of £60,000. 9 Tangible fixed assets Cost or revaluation At 1 January 2021 At 31 December 2021 Net book values At 31 December 2021 At 31 December 2020	Unrestricted £ 22,362 8,552 30,914 Unrestricted £ 23,671 23,671 Unrestricted £ 277 1,895 219,735 7,491 500 229,898	Total 2021 £ 22,362 8,552 30,914 Total 2021 £ 23,671 23,671 Total 2021 £ 277 1,895 219,735 7,491 500 229,898 £ 1,820,000 1,820,000 1,820,000 1,820,000	Total 2020 £ 14,547 4,581
			19,128
			Total 2020 £ 16,595
			16,595
			Total 2020 £ 801 190 99,931 10,539 -
			111,461
			£ 1,820,000
			1,820,000
			1,820,000
			1,820,000

Page 11

Gurdwara Sahib Sikh Temple & Centre Notes to the Accounts

	2021 £ 538 538 2021 £		2020 £ 538
			538
			2020 £
	500		500
At 1 January 2021 1,969,542 1,969,542	500 Incoming resources (including other gains /losses) £ 221,176 221,176 At 1 January 2021 £	Resources expended £ (284,483) (284,483) Unrestricted funds £ 1,820,000 86,235 1,906,235 Cash flows £	500
			At 31 December 2021 £ 1,906,235
			1,906,235
			Total £ 1,820,000 86,235
			1,906,235
			At 31 December 2021 £
	150,122	(63,925)	86,197
	150,122 150,122	(63,925) (63,925)	86,197
			86,197

Page 12

Gurdwara Sahib Sikh Temple & Centre Detailed Statement of Financial Activities

for the year ended 31 December 2021

Income and endowments from: Donations and legacies Other Refunds from Utilities Insurance Claim Bank Interest Received Total income and endowments Expenditure on: Costs of generating donations and legacies Other direct costs of generating voluntary income Free Kitchen Running Costs 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 2021 £ 200,823 200,823 11,155 9,142 56 20,353 221,176 22,362 8,552 30,914 30,914 23,671 23,671 23,671 277 277 1,895 1,895 10,757 3,939 7,988 8,680 188,371 219,735	Total funds 2021 £ 200,823 200,823 11,155 9,142 56 20,353 221,176 22,362 8,552 30,914 30,914 23,671 23,671 23,671 277 277 1,895 1,895 10,757 3,939 7,988 8,680 188,371 219,735	Total funds 2020 £ 193,590
			193,590
			- - -
			-
			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

Page 13

Gurdwara Sahib Sikh Temple & Centre Detailed Statement of Financial Activities

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 (expenditure)/income Net (expenditure)/income before other gains/(losses) Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	2,798 2,223 1,296 1,174 7,491 500 500 229,898 284,483 (63,307) (63,307) (63,307) 1,969,542 1,906,235	2,798 2,223 1,296 1,174 7,491 500 500 229,898 284,483 (63,307) (63,307) (63,307) 1,969,542 1,906,235	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

Page 14