2024-12-31-accounts - The Sikh Temple

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Docusign Envelope ID: 61981DEC-98D6-4F3B-9B0F-5EAA3153DE63

The Sikh Temple

Charity No. 700754

Trustees' Report and Unaudited Accounts

31 December 2024

Docusign Envelope ID: 61981DEC-98D6-4F3B-9B0F-5EAA3153DE63 The Sikh Temple 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 12
Detailed Statement of Financial Activities	13 to 14

Page 1

Docusign Envelope ID: 61981DEC-98D6-4F3B-9B0F-5EAA3153DE63

The Sikh Temple

Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 31 December 2024.

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

HCA Group First Floor Unit 7 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 incoming resources for the year of a revenue nature of £265,196 and the total reserves at the year ended stand at £2,518,664.

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 29 October 2025 | 3:00 PM GMT Kanderp Single Rel

31 December 2024

Page 2

Docusign Envelope ID: 61981DEC-98D6-4F3B-9B0F-5EAA3153DE63 The Sikh Temple Independent Examiners Report

Independent Examiner's Report to the trustees of The Sikh Temple

I report to the trustees on my examination of the financial statements of The Sikh Temple for the year ended 31 December 2024.

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').

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

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 by being a qualified member of ACCA.

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 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.

Hassan Khan ACCA HCA Group First Floor Unit 7

Northside Business Park

Leeds LS7 2BB 31 December 2024

Page 3

Docusign Envelope ID: 61981DEC-98D6-4F3B-9B0F-5EAA3153DE63 The Sikh Temple Statement of Financial Activities

for the year ended 31 December 2024

Unrestricted funds	Total funds	Total funds
2024	2024	2023
£	£	£

496,745	496,745	457,113
176,163	176,163	27,934
672,908	672,908	485,047

137,381	137,381	125,722
65,645	65,645	49,223
204,686	204,686	105,570
407,712	407,712	280,515
-	-	-
265,196	265,196	204,532
-	-	-
265,196	265,196	204,532

265,196	265,196	204,532

2,253,468	2,253,468	2,048,936
2,518,664	2,518,664	2,253,468

Page 4

Docusign Envelope ID: 61981DEC-98D6-4F3B-9B0F-5EAA3153DE63 The Sikh Temple

Balance Sheet

at 31 December 2024

==> picture [490 x 439] intentionally omitted <==

----- Start of picture text -----
|||||| |---|---|---|---|---| |Charity No. 700754|2024|2023| |£|£| |Fixed assets| |Tangible assets|9|2,355,869|2,195,825| |2,355,869|2,195,825| |Current assets| |Stocks|10|538|538| |Cash at bank and in hand|166,849|57,605| |167,387|58,143| |Creditors:|Amount falling due within one year|11|(4,592)|(500)| |Net current assets|162,795|57,643| |Total assets less current liabilities|2,518,664|2,253,468| |Net assets excluding pension asset or liability|2,518,664|2,253,468| |Total net assets|2,518,664|2,253,468| |The funds of the charity| |Restricted funds|12| |Unrestricted funds|12| |General funds|2,518,664|2,253,468| |2,518,664|2,253,468| |Reserves|12| |Total funds|2,518,664|2,253,468| |Approved by the trustees on 31 December 2024| |And signed on their behalf by:|

----- End of picture text -----

Randeep Singh Rehsi Trustee 31 December 2024

29 October 2025 | 3:00 PM GMT

Page 5

Docusign Envelope ID: 61981DEC-98D6-4F3B-9B0F-5EAA3153DE63 The Sikh Temple Notes to the Accounts

for the year ended 31 December 2024

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

Docusign Envelope ID: 61981DEC-98D6-4F3B-9B0F-5EAA3153DE63 The Sikh Temple Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT expenditure which 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

Docusign Envelope ID: 61981DEC-98D6-4F3B-9B0F-5EAA3153DE63 The Sikh Temple

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.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

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 8

Docusign Envelope ID: 61981DEC-98D6-4F3B-9B0F-5EAA3153DE63 The Sikh Temple 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 4 Other income Gift Aid	Unrestricted £ 496,745 496,745 Unrestricted £ 176,163 176,163	Unrestricted funds 2023 £ 457,113 27,934 485,047 125,722 49,223 105,570 280,515 204,532 204,532 204,532 2,048,936 2,253,468 Total 2024 £ 496,745 496,745 Total 2024 £ 176,163 176,163	Total funds 2023 £ 457,113 27,934
			485,047 125,722 49,223 105,570
			280,515
			204,532
			204,532
			204,532 2,048,936
			2,253,468
			Total 2023 £ 457,113
			457,113
			Total 2023 £ 27,934
			27,934

Page 9

Docusign Envelope ID: 61981DEC-98D6-4F3B-9B0F-5EAA3153DE63 The Sikh Temple

Notes to the Accounts

5 Expenditure on raising funds

Costs of generating voluntary income 6 Expenditure on charitable activities Expenditure on charitable activities Governance costs 7 Other expenditure 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 2024 Additions At 31 December 2024 Net book values At 31 December 2024 At 31 December 2023	Unrestricted £ 92,908 44,473 137,381 Unrestricted £ 65,645 65,645 Unrestricted £ 852 185,601 17,633 600 204,686	Total 2024 £ 92,908 44,473 137,381 Total 2024 £ 65,645 65,645 Total 2024 £ 852 185,601 17,633 600 204,686 £ 2,195,825 160,044 2,355,869 2,355,869 2,195,825	Total 2023 £ 53,467 72,255
			125,722
			Total 2023 £ 49,223
			49,223
			Total 2023 £ 1,498 85,316 18,156 600
			105,570
			£ 2,195,825 160,044
			2,355,869
			2,355,869
			2,195,825

Page 10

Docusign Envelope ID: 61981DEC-98D6-4F3B-9B0F-5EAA3153DE63 The Sikh Temple

Notes to the Accounts

10 Stocks

	2024 £ 538 538 2024 £ 538 538 2024 £ 3,492		2023 £ 538
			538
			2023 £ 538
			538
			2023 £ -
	1,100		500
At 1 January 2024 2,253,468 2,253,468	4,592 Incoming resources (including other gains/losses) £ 672,908 672,908 Unrestricted funds £ 2,355,869 166,287 2,522,156 At 1 January 2024 £	Resources expended £ (407,712) (407,712) Restricted funds £ - (3,492) (3,492) Cash flows £	500
			At 31 December 2024 £ 2,518,664
			2,518,664
			Total £ 2,355,869 162,795
			2,518,664
			At 31 December 2024 £
	57,605	109,244	166,849
	57,605 57,605	109,244 109,244	166,849
			166,849

Page 11

for the year ended 31 December 2024 Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Dividends, interest and rents from investments Increase in trade and other payables Net cash provided by operating activities Cash flows from investing activities Payments for property, plant and equipment Dividends, interest and rents from investments Net cash from/(used in) investing activities Net cash from financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances Bank overdrafts The Sikh Temple Statement of Cash flows Docusign Envelope ID: 61981DEC-98D6-4F3B-9B0F-5EAA3153DE63	2024 £ 265,196 (176,163) 600 89,633 (160,044) 176,163 16,119 - 105,752 57,605 163,357	2023 £ 204,532 (27,934) -
		176,598 (375,825) 27,934
		(347,891)

		-

		(171,293)
		228,898
		57,605


	166,849	57,605
	(3,492)	-

	163,357	57,605

Page 12

Docusign Envelope ID: 61981DEC-98D6-4F3B-9B0F-5EAA3153DE63 The Sikh Temple

Detailed Statement of Financial Activities

for the year ended 31 December 2024

Income and endowments from: Donations and legacies Other Gift Aid Total income and endowments Expenditure on: Costs of generating donations and legacies Total of expenditure on raising funds Charitable activities Total of expenditure on charitable activities Motor and travel costs Vehicles - General costs Premises costs Rates Light, heat and power Premises cleaning Premises repairs and maintenance General administrative costs, including depreciation and amortisation Bank charges General insurances Stationery and printing Sundry expenses Telephone, fax and broadband	Unrestricted funds 2024 £ 496,745 496,745 176,163 176,163 672,908 92,908 44,473 137,381 137,381 65,645 65,645 65,645 852 852 9,923 106,008 18,177 51,493 185,601 2,248 11,511 - 143 3,731	Total funds 2024 £ 496,745 496,745 176,163 176,163 672,908 92,908 44,473 137,381 137,381 65,645 65,645 65,645 852 852 9,923 106,008 18,177 51,493 185,601 2,248 11,511 - 143 3,731	Total funds 2023 £ 457,113
			457,113
			27,934
			27,934
			485,047 53,467 72,255
			125,722
			125,722 49,223
			49,223
			49,223 1,498
			1,498
			6,229 68,817 9,517 753
			85,316
			2,214 10,081 1,479 2,364 2,018

Page 13

Docusign Envelope ID: 61981DEC-98D6-4F3B-9B0F-5EAA3153DE63

The Sikh Temple Detailed Statement of Financial Activities

The Sikh Temple Detailed Statement of Financial Activities Envelope ID: 61981DEC-98D6-4F3B-9B0F-5EAA3153DE63
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	17,633 600 600 204,686 407,712 - 265,196 265,196 - 265,196 2,253,468 2,518,664	17,633 600 600 204,686 407,712 - 265,196 265,196 - 265,196 2,253,468 2,518,664	18,156
			600
			600

			105,570
			280,515 -
			204,532
			204,532 -
			204,532
			2,048,936
			2,253,468

Page 14