REGJSTERED CHARITY NtJMBEIL. sc1306 REPORT OF THE TRuEE5 AI FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 MARCH 21124 FOR CEiYfRAL GIJRDWARA SINGH SABHA- GLASGOW Bathn¢nnHn Johnstone Ma¢liy Limitrd ChArt¢red Acww)Lant8 d Statutory Auditor 213 Si Vincenl Stre GIosBOW G2 SQY
CENTRAL GURDWARA StNGH SABHA- GiASGOW CONTENfs OF THE FINANCIAL STATEMEiYrs FOR THE YEAR ENDED 31 MARCH 1024 Pazt Rtp•rt of the TruitoÉi Report of tht lthdtp¢hd¢ot A•dliors StittMÈtht of Fl•TrtlAI A¢¢lvl¢lfrJ Bilan¢e Sheet Stit•m•nt of CAsh Flowi 10 to th Sf#itmeTht of Cash FIoT/S Notu to th• FlnADel•l Sts¢•rn•ut• 12 to 20
CENTrAL GURDWARA SINGH SABHA- GLASGOW REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 I'he trusiees present their rewrt with the financial statements of th¢ ¢htiriiy for the year ended 31 Marth 2024. The ljustees have adopted tht Provisions of Accounting artd R¢p)rting by Chariti&s.' Statement of Recommended Prnclicc applicablc hariiies pr¢parin8 ihcir a£U in acu)Idance with the Financial Reportin& Stsndwd applicablc in the UK and Republi¢ of Ireland {PRS 102) (¢ffe¢tive l January 20191. OWECTIVES AND ACTIVll Oblectfves Aims The obje£lives of the ¢hwily . The promotion rjf Ihe Sikh rcligion. Sikh culwre and Sikh broilLerhfy)d ¢hrough the Provision of educaiiOn41 faLiliiiE5. Ihe organi5ation Df communal a¢tiviiies and Ihc running and mainThance of the Gurdwara buildin8. Throu8h ethJ¢aiion of Sikh rcligion by holdinB cla8SCS Thiough tthjeaiitsn of PunjabilGurmukhi Longua8e Snd having ¢los5E5 F%cililatinn Trf mAjnr sikh life events e.8. birih, neral seTvice4 marTia8e, baptism (Amrit Sanehaar) H05Pltal chaplwn¢y service Pr¢Jviding Guru Kt Lan8aron a r¢gUI basis l¢ommuoity frce4(iLchcn lor all) Ignlflr4nt Acilvitlts Wc currcnily run r¢xular ¢la3ses within the Gurdw8T8 ¢dU1n8 the community wheiher it be Gurmukh (religiou$) cducativn oi. Punjabi I1&Uage) clas. In addition ¢v Ilii4 wr run wcckly sewing Ll&%ses, yoga ¢l%scs. muslG classes. martial art Gl855e5 and u drop in £erttr¢ for 6(. In addition to this. we carry our rcgular scl¥)ol tows. intttfaiih touts and events hlld h05t Glas8ow open day ur.8 plus private tours. We 0190 eelebrate all Ihe 8iBnif1¢4ni Sikh ealtnd•r cvents throughout iheyear. The Gurdwlra also hosts funeralj I weddings. SundAy 1.% undoubledly the busie day ai the GuTdwaTa with o footlall of one thousond plus ngregatIOn membcrs which is Bvcr IncreIng. FINANCIAL REVIEW FlnA*¢lxl POAltlon Thc slement uf Flnanclal Aciivitl&8 thows a d¢fi¢ii for the year to 31 Mareh 2024 of £3,953.318 12023.. surplus of £19J.4951 aiid. a5 of that dale. Llit LhIlY had i pusiliv¢ Balllnce SheLt wsition of £1,013,190 12023.. £4,906.508). Thc d¢ficit for the ycor W4Lq due to irnp&irmenl 1055 of £4.242.734 after a v4lualiOn was completed on the propcrties held by thc charity. otherwise the chBrity would have shown an improwed I'c5uIt in comparison to the previous y¢ar. Thc ITU51tt5 remaln commlttcd to en8urinR ihAt an overall surplus sItIon 15 8cnerated each year. Prln¢lpal fundlbg The principal Source of income that support the charitablc objective5 are don21ion8 re¢¢iv¢d from the members of the ¢ongTe8aiion and the wider Sikh cornmunity. During the year, don4lioD5 01.L49X).448 (2023.. £434,278) wtre rtceived. Thcrc have been 25 members of th¢ ¢ongrg8ation who hav¢ set re8uI& Slanding orders donation& aLso the numbGr of congrEgation havr been stcadily risin8 aAer 2022. Th¢ numbcr of ad hoc donations h&8 algo been hier from the ¢on8Bation too followiThg this swne pattrrn. In addiiion, the 138 B¢rk¢ley Styeet buildin8 the GurdwsrY40Wll5 ha5 b¢cn renlcd to a eommuniLy rharity whirh i5 providing further inromc. Pa2e I
CENTRAL GURDWARA SINGH SABHA- GLASGOW REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Expenditure The I.%es[ expense of the charity is for the intcrc5t on th¢108n us¢d io fvnd the building of thc ncw GuTdwara. Thc Bank of England basc rate at its highcst ai 5.25Yo in August 2023, rcsulting in Ihc loan repaymenis peaking dui'ing this financial year. Prcmises cost5 hav¢ also notably increased on last year. particularly with utilitics. How¢v¢r, through the Continued support of the Sikh community. these additional outgoings w¢r¢ Cornfortably rThet. lovtstmtut pollcy and objectfves General fund8 arc hcld in bank aCcontS so tha¢ thc fund5 are held in a risk frtt liquid form. Th¢ ¢harity se¢k8 obtain the best rate tsf inTeSt 18 can in respcci of these fund8. RtseTVts pfjllcy Thc Iru51ccJ tnonitoi. th¢ reserves and commitments io ert8ULt & con¢inuing abiltly lo tncct thc charity's objectivu aTKI liabili11. The p)licy is to aim to retain suffi¢i¢ni ndS T¢quir¢d to meci rcgular commiimcnis for a pcriod of Ihree mTrnihs, in-line wilh OSCR 8iTidance. The r¢servts policy will be reviewed and revised as n¢r¢55ary dutin8 thr next flnancSal year. Currcntly the trugtees hold in exc of £IOO,000 in a high interest bearin8 a¢couni in c4w of ¢rn¢rg¢n¢i¢s. Gfylni concern The trustees Ire Jlyu LO1117111#d Iv ¢liburin¥ Ihdt thc charily has sutriLi¢ni funds to alluw li iu ¢4)niinu¢ for d p¢dod tsf 12 months Irom ¢h¢ approvul d¢ ofthcs¢ cOunts. Wiih another surplu3 Poslcd fDr the yettr ond with thc ¢4sh TCS¢ryCS in place, the trustees consider it appropriale to prepare the flnWKi ll4tem¢nts on thc going conccrn bHsis. FUTURE PLANS As coshflow impTOV¢S we would like to dcwclop the lldjaccnt18nd 10 thc Gwdworo following detsiled discussions with thc cunRregAtion. In addition, with regards to the 134 Berkeley Street opertY, we 4r¢ in discussion with variuus community membcrg with a view to dcveloping th¢ siie. STRucfuRE. GOVERNANCE AND MANAGEMENT Govtrn5ni dtstumetst The charity is Controlled by itj gov¢min8 doami¢nL a dced of inJ$t and con8t1Dj &n UnirKor)fattd charity. Rternltm¢nt tsd Apptsltttment of iew trnstets The charity four pcrmancnt irustccs. Thc appointment of any new In]3¢c¢s and thr re-¢l¢ction of¢xistin8 trustees shall bc in accordance with the con41ituuon of¢harity. The appolntmeni of new tru5tttJ will bc ai ihc discretion of the Cilml trusl¢cs as F¢r th¢ consti(uiion. Orynistion415trnctUTt Thr Gharity 15 governed by four pemian¢nL ¢ru8w¢s, who are responsible for the ovcrnll dir¢cilon of thc charity in mcciin ils objectives. However, the Irllstees hav¢ forrnlllly delcgaied the day-to4ay mana8¢Jnent of Ihc Gutdwar& inGluding th¢ owersi8ht of roulin¢ opew81ions financial mailers, to the Managemen( Commiiiee. Thig eommittec 15 made up of elected o(fic¢ bearcT5. including thc Prc%idthi. Vite-PrL$idtni. TreasurcT, Cicncpal %ecretary and As815tant Stcreiary, who carry out thcir rol¢s on a volun¢ary basis. The tru8tee& tL5 per the consiiwtion. aprx)ini Ihe wsi(ions on (he Managemcnt Commiltce on a 2 yearly term. The rnana8tmcnt Cvtnmitt will th¢n havr the diKr¢tion to appoini or cleci a widci comtnii*r to Wj5t. Pa8e 2
cErffliAL GUIWWARA SVNGH SABHA- GLASGOW REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 srRUCTUR[ COVERNANCE AND MANACEMEP4T Responsibility for the tunning of the Gurdwara. and therefore Ihe ¢harity. 1$ 5har¢d b¢ten Ihc trsteel and the Management CommillE¢. Whlle Ihe Managem¢ni Commlttee overscu ihe majority of the day-ts>.day nctionS and deci$iorL-making. the Trnsiees rernain actively involved in key rnaticrs, particulwly th05c conceming en&ot'_yw finan¢ial reporting. 51Rniticant ¢aPLlal projects. dealings wilh finan¢ial institutior15 and professional And 1¢8al 3wvices, the oversight of plperty and siirplvs fvnds. specifically those relaiing t¢) 134 and 138 Btrkelry Street. This $h8r¢d gtvernance model rtflects the £ollaboratÉvc approach taken by both th¢ Irusiccs and the ManaEem¢n Commitlee. ensurin8 both complian¢¢ with OSCR re8ulaiions find the effeciiv¢ opcr&tion&l mana8cment of the chariry. In recognition of this Ehared resp)nsibility. the tnJ#iees hAVC agreed ihat boih a trustee and o rn¢Tnb¢r of ihe ManaBemeni Committee will sign thc R¢port of thc Tru5tccy. Thi5 more accurately rcflrcLs Ihe joint invnlvemenl of both pariits in the financial ovtt3j8ht of thc charity. though the irustegs thal thcy knld ultimaic Fesponsibility. Ihduttknh •nd tTAlThlTri of Ivllittei New Iru51¢¢s 8re mide aw&e ot. any essentl81 informaiinn Irquired loi. their mle with ihe chjriry by the rKisiin8 tru5teey, IllLludin8 Uirir rights and ra5w>nsibilili¢S W¢r th¢ Scottish Charity Regula13 fjuSdancr- Guidanc¢ and good pra¢ii¢e for hority truslces. R15k rnAn*i¢mtht Tlic Lru51¢¢5 Iiuvc d duly 10 idenufy #nd review the risks io whl¢h the charity is exposcd to ensuir appropilat¢ controls re in pldcc to provide 4?OnbI¢ th5Jurance ¥aIn fraud and c01.. Th¢ principal risk, and plan for rnitl8atin8 ihis, i$ aroiind ihe aTea% (It. loss otr don&lion income. There 15 a risk thAi income ¢ould f11 b¢luw the lev¢1 re4uireil w m&ini4in thc Gurdwura and ¢ov¢r the ¢harlty's running c05t8. This 1$ Mitiga by r¢gulaT communicaiion oftknc Ghwity's vi3ion and financial nee(L¥ lo thc Gurdwara Gomrtiuiiily and Ihc Llv% rnuniloriri8 or thc fJnarKial health of the Charity by ihe truaiees and mAr¢M¢111 commiitce. AppvlnlmeNt of iudllor Followin8 thc y¢or-end. th¢ and Mana8cmcnt Commit¢ce 4ppoint¢d Banii¢rman Johnstonc MdGlay LiThil¢d us thc tharity's &uditor in aceordAn¢¢ with Seciion 4411)Icl of th¢ Chw'iti¢s 4nd Trustee Invesimcnl IS¢oilandl Aci 25 aTrJ Rcgulation 10 of lh¢ Charities Accounis (Scoilandl Regulitions 2006 {&$ Rmendedl. The aPPDintrncnt was made to ensure L4)mpliitnK wilh ili¢ siaiuiury Uudli wuiremeni based on th¢ tharlty'y Income, which had excccded the audil Ihr¢skold for the financiDI y¢5JT. REFERENCE AND ADMINIS'I'RATIVE DETAILS R¢gi>¢ered Charlly numb¢r SC000306 Prlncbpil qddress 174 - 176 B¥rkeley Street GIL8gow G3 7HY Pagc 3
CENTRAL GURDWARA SINGH SABHA- GLASGOW REPORT OF THE TRUSTEES FOR THE YEAR £P4DED 31 MARCH 2024 RLFERENCE AIW ADMINISTRATIVE DETAILS Auditors Banneman Johnstone Maelay Limited Chartered Accountan and Statutory Auditor 213 Si Vinccni Street GIos8OW G2 5QY
'I'ATF.MEJl'l' OF TRUS'TLLS, RESPONSIBILITIES The tsusiees are re%ponsible for Preparin¥ the Report of the Try$t¢es and the financial statemcnis in aceordance with applicable law and Unitcd Kingdotn Accounting Standards (United Kl'ngdorn fjenerally Accepied Accountin8 Practice). Charity law requir¢s th¢ trust¢¢s to prcparc financial 51alctneiils for ¢aLh financial year. Under Ihai law, th¢ trust¢¢s hav¢ elcctLyI to prcparc thc financial 8latcmcnts in accordance with United kn'ngdom Gencr&lly Acc¢pt¢d Accouniing PraLiice (uted Kin8dotn Accounting St8ndDrds and npplicNblc lawl. Under charity law the truslees must not approve the fin8n¢iAI st8tements unless they are 5ati$fi¢d that they give i Mue and fair view of the state of gffatrs of the charity and of the incomin8 req(>urces and applic8tion ol. resources, including the incom¢ and ¢xpendirure, ofthe ch0n.ry for ih&t period. it) pfEpAring those fjnallcl sta*m¢nt& the trugtees are required select suilAble accounting policies and then apply them consistentjy. obs¢rve the meihods and principle5 in the Charities SORP. tnakejiid8emenis and estimates that are Teasonable and ptudent. slate wheiher applicable acuntIn¥ standards have been follow¢d. subject to Any material departur¢$ dig¢108¢d #nd explaincd in the financial siat¢m¢nts; preparc thL fLnan¢ial Statements on the going concern basis unless it is inappropriate w presume that the charity will ontiiiue in bu$inrs5. The trustees are responsible for keeping propcr Hwountin8 records which di5¢1osE with reasonable accuracy at any iimc the financial position of the charity and to ¢nable them to ensure that the financial statements comply with th¥ Charities and Trustee Invcstment (Sctstlandl Act 2005 artd The Charities Ac¢ounls {S¢otland) Regulations 2006 las amended). They are so responsible for safeguarding the a&sets of the charity and hence for taking reasonable steps (or the pttvention and detection of fraud and othcr irr¢gulaTiti¢s. Approv by order of the Ix)ard of trustces on 5 December 2025 and signcd oth its behalf by: Pagc 4
REPORT OF THE INDEPEPIDENT AUDITORS TO THE TRUSTEES OF C.ENTRAL GURDWARA STNGH SABHA- CLASGOW Oplnlon We wcrc Engaged to audit the fina[al statemenis of Ceniral Gurdwara Singh SaFth2- GI2s8tyw lih¢ 'charity'l for the y ended 31 March 2024 which comprise the StaiEincnt of Financial Aclivltics. the Balance ShLet. the Cash Flow Staictneni and notcs to tht financial 51al¢m¢nts, including a summ1 of &ignifLcant accounting LX)Iici¢5. Th¢ financial rrwrting fTRTnework that has been applied in (heir PT¢poration is applic&ble Ittw And Unit¢d Kingdorn Accounting Standwd8 Iuniicd Kingdom Generally Accepted A¢cowi(in8 Practice). In oui. opinion. exp1 for the rffects of ihe matier dc8cribcd in thc BlS for Qualified Opinion secuon. the financial &tAteMer.. Bivc a true and faiT view of the siatt of the chartLI$ affairs as at 31 M4rch 2024 ofits incomin8 resources and application of r¢wurtes. ftsr the ye8x then ended., havc bren properly PTCP8red in a¢cordaJ)ce wlih Uniicd KingdoTll Gcnerdlly Acccptcd AccounliTh8 Praciice., and have bcen prepared in aoi¥lance witli ilie rcquircmcnis of dic Charillt$ and TwsLe¢ IIivGblffl¢iil Iswtlandl A 2(K)5 pnd Re8ulalioD 8 of the Charities Accounts Iseoiland) Regullltions 2006. B951$ for qwallfi¢d oplnl•n W¢ w¢r¢ appJini¢d audiior ofilic Lhariiy after Ilic bc¥iiinin¥ uf thr finwibidl y¢dt. 17ic findncial siaicmenis for year ended 31 MarLh 2023 wtJ% not tsudilcd. Dnd w¢ werc therelore unllblc io obtsin sufficient appropritts audit ¢vidr¢ re8&rding the opening balHnccs. In porliLular, we were unabl¢ Iv ubiain ¢vitJ¥nG¢ w ronfirm th¢ Lufflpl¢ienc55 and acLufaLy ul. Ihe &rnounls owed 10 other crcdiior5, Includin8 rtmounts owcd to C¢Ttain individua15. As thc openin8 creditors affeci the deicrmination of th¢ TC5uIts for the curreni ycyr, w¢ wcrc unablc to deterrnine whether 8ny ¥djusirn¢nts mighi hav¢ b¢rn ncce55Ury to the statement of rin8ncSal actlvliics. W¢ cortducied our lltsdit in 4ccordDmce with Int¢rnuiional Standards on Auditin8 IUKI IJSA$ IUKII and applicablc Idw. Our re8ponstbiliiies undcr Ihosc Standards are further described in the Audilvrs, rcsponsibilili¢5 for Ih¢ Budil of the financial sialemen sectlon ot. uur report. We 8re indepcndeni of ihe chariry in ac¢(IrdanLC wilh the cthic&l rcquiremcnL% ihol ure rel¢v4nt Lo oui. Judil of ilL¥ finanlial s¢dt¢rTi¢n15 in lh¥ UK. inLluding Ihr FRCS Eihical Si&ndard. llnd we hBve fulfilled ollr other ¢ihicJl responsibilitles in Accordance wilh th¢5c r¢quir¢menis. We believe ihal Ike Èudtl cvidue¢ w¢ havc obtaincd 15 yutyieienl and 8pPlPrI¢c to provide a bHyis for our qualifjed opittion. Concluylonj rekntlfflg to 8Dln% ¥vn¢rn In audiiins the finonciul SlMlemcnl8, we have wncludcd that the Inlee8, use of the 80in8 concert) basis of Uting in the prepÈitivn uf Ihc financial $laicments is appropriate. Based on lh¢ work wr havr p¢rfonncd, w¢ havc rLoI Identificd any maieri81 uncertainiiej relwin8 to evMt5 or ¢ondiiions thai. individually or ¢oll¢¢tiv¢ly, may ca51 significant doubt on the charity'3 8biliry 10 coniinur as A gtsing con¢ern for a peTiud of at least twclvc months from when Ihe fr1natKl %tatemcnts Are authori$cd for issu¢. Our I¢55]bilitirs and th¢ rcsF4Jn$ibilitie3 of th¢ uwsi¢es with SpeCI to going ¢oncem tre deswibed in the relevant g¢¢1ions of this rcw>rt. An ov¢rylew of tht of our iudit We w¢r¢ appoinicd auditors of the chorily after ycar end and. accordingly. did not perlorni ££rtain year-cnd proce35eS Lir audit tesiirt8 during th¢ firan¢ial year. HowcveT, w< have bccn able 10 obtain sutTicienl and appropriate audit eYi(kncc rE8arding Lhtse mailers through aliernaiive audii prncedure$ and ettquiri¢s. Our opinion 15 not rnodified in rcspcci of this Page 5
REPORT OF THE INDEPENDkNT AUI)II"ORS TO THE TRUSTEES OF CENTrAL GURDWARA SINGH SABHA- GL4SGOW Oth¢r Imformation The Ii'us(ees are resw)nsibl¢ for ihe other informa(ion. Th¢ other intonnaiion compriscs th¢ information included in thc Annual Rew)rl, oih¢T than iht financial $tst¢m¢nts and OUT Report of Ihe Jndependertt Alldit(brs thereon. Our opinion on Ihe financial 81atemcnts does not tover Ihe Trih¢r information and except ts) the exoni otherwise explicitly siaod irt ow ieport. wc do not ¢xpre53 any form o(as8urance conclusion thereo In t(mne¢iion with our audit of the finan¢i&l stat¢Tnents, OUT rewn8i6iliiy is to reDd the other information and. in doing 8¢, con.$idei' whether Ihe oihcr inforrnaiion is maierially inconsistcnÉ with the financial staiemenis or our knuwl¢dge obtained in the audii or othttwi%c appcaTS to k marerially rnisstaled. If we identity such rn2terial incon8istencic% or apparent material missiaiements. wc arc IEquir¢d determinc wlicthcr this giv¢5 ri5C to a material Mi&steMent in th¢ financial siatcmcnis Ihemselves. If, basrd on th¢ work we h¢ performed, wc concludc thai thcTe is a matsridl misstaternenl of ihis other information. we are required 10 rep¢yt thai faci. We havc nothing t<) rery)rt in Ihi5 MtttF5 on which we #re requlrtd io rtport by eictptlo Except for thc motter.% de8cribcd in Ihc BEL815 Ot. Qubliticd Opinioii stGlion. we have noihin8 to iep)ri in rc5P¢Ct of the following matiets whert thc Charities Accounts Iscotlondl R¢gulwion 2006 {as amended) requires us 10 rcpori to you if, in our opinion.. the infuiniaiivn given in thc Rcpon of IhL TNsiees is Inconsistcnt In any rnai¢rig1 re5pe¢i wiih lh¢ financiol stst¢rncnl4 or pYopeT &cEouniing record5 have not kcpt. or the financial st8lemenl$ are noi in igTLcmenl wilh the 8ccouniin8 recoTd9 aDd retum5' or we have t¢¢¢iv¢d all information and ¢xplanailons we Irquirc for our audit. RtlPDwlbllltl•i of trujt A5 cxplaincd more fully in ih¢ %tatemenl ot"fru.%lee5' Re&ponsibiliiie$, th¢ Iru51ecs are sponsible for the prcparalion ol'the IillaiJLi&I sidi¢menib whi¢h glyc A Irue and fair vi¢w. and for such intcrnal conirol as the tiust¢es dei¢miine is necessary ts) enabk th¢ pr¢para¢ion or rinDn¢ial si#iements that irc f¢ finI materi&l mi5siaitm¢ni, wkihri. dl fi?ud ur crrur. In prrpsrin8 Ihe fin8llciAI statements, Ihc Iru5tees are Te$pon8ible fov assc¥sin8 the charity'5 ability to ¢ontlhV¢ as a 80in8 conc¢rn, disLlosing. dpplicablc, rnallCT5 rclaied 10 going wnrern and using ihe going contem basis of accounting unless thc iru3¢crs c1th. intcnd to liquidal¢ th¢ charity or to Gcas¢ operations, or h4LV¢ nv r¢ali¥li¥ iili¥rnaliv¢ bui io th) so. O¥r ruponJiblNtlu for th¢ ldIt of fht Ilffl*nrlg1 stAtemeiti We have been apwinie(J a& audilDf5 undei. Section 4411 Ilcl o(Ih¢ Charliles and Tree Inv¢s¢ment Iscotlandl Ad 2005 report in ac¢ordanGc with Ihc A¢1 and rclev&nL rcgulalions niadc vr havin8 errttL ih¢r¢uRdrr. OUT objeclivc5 are to obwirt reasonable assur8nce about whether Ille fin¥n¢ial 8ta(emcnts a5 a whole are fre¢ frorn malcrial li5sLatemcnt, whether due to fraud ¢)r crror, and to Issuc a Repon of th¢ Independeni Auditors thot includcB our opinion. Regsonable a55urance iy a hi8h level of A53urancc, bui is not * 8uaran¢rG thal an audit Gonductrd in accordan¢¢ wl¢h ISAS (UK} will alway8 det¢GI a Material mi55ialement wh¢n li exisLg. MisSlemen1S can ari8c from ftBud or crror and arc considercd material il., individually or In the a88re8ale. they could rcasonably be exprrlcd to influencc the economic declsiony of uscr5 tsk¢n on the basi5 of th&%e tinancial su[emets. We obiaill¢d an understanding of Lhe legAI and regulatory framcworks applicable to ¢h¢ ¢harity and ihe sector in which it operatts, Iocusin8 Oll thosc with a direci effect on Ihe financi s¢atcmcnts. We deiemiined ihxt the following law5 regulAtion5 were the mo# signifjcant: thc CharitlL8 and Trustets InvL8imtni (Scoilandl Act 2005 und the Charity SORP. We obtllined An llnd¢rstanding of how the charity 1$ wmplyin8 with those le8al atjd r¢gulatory frgJn¢work5 by makin8 enquircs to Ihc rnana8ement committee 3nd tho8¢ charged iviih 8overnon¢e and corr0rated these rr5wnses tknY)u8h our review of trustCC5 rnccting minuies and othei. relevunl documenlalinn. PaBe 6
REPORT OFTHE If+iDLPENDLNT AUDITORS TO THE TRUSTEES OF cElrRAL GURDWARA SINGH SABHA- GLASGOW W¢ 35S¢55ed the susceptibility uf th¢ rh4rity'5 fjnancial starcmenis io maiertal missiatrm¢nl, including how fraud migjt occur, 8nd identified mAnagemcnt oycrridc ol"conirol$ and r¢vcnue recognition (cut-off and completeness) 35 Ihe ar with th¢ gieate5t 1'18k of fraud. To address these Tlsk& the audit proc¢dures perfomied by the engagcmcnt am included.. idcntifying and wessing the design and effeciivenes% of controls TnanBgement has in place ts prevent and detttt fraud.. understanding how those ¢horged with governance considered And addrcsscd the t¢Trtial for overrith OF conlrols or other inappropiiatc influcncE vver thc fjnancial reporting proc5,. reviewing flnancial sthtem¢nt disclosur and te&iing lo supporting documentation to asseJ8 compliante with prtsvL.4ions of Televani laws and re8uIziions described as having a direci etyeci on the financial stai¢mcnts- substanlively lesiinE a sample of rcvcnuc ti'an5actions, locusin% on donatioThs. to cDire compleienes% and cul-off around ycar end bccn appropriai¢ly appli¢d.' and ¢ssing Ihe exienl of complinCe with rclevant laws and rc8ulalir>n$. En8agcmen( ieam membcTS wer¢ a180 bri¢fed on relevats¢ laws, regulations poteniial fiaud risk4 ond were reminded to remain aleri to indications of nnn.u)mpli&nce Ihmughoiil the audit. Duc lo the inhereni lirnitationJ of audi( thcrc is a risk th w¢ will not detect all 1C8U1&ritltS. inGludivg tho3e Icadi8 Io a rnaie¥ial missthtem¢nl in thc financial SlAtrmrnts or Th)n-compliance wilh r¢8ulp¢ion. This Tisk incre3 the morc Ihat ornpliance with a law Dr regulaiion 1$ rtmnved from Ihe events And transactions refl¢¢ted in Ihe financial St¥len1$, will b¢ l¢ss lik¢ly io orne &waK of insiances ol- non.compli8nce. The risk is also ¥reater regarding irregularities OrGu1n8 duc to fraud rttiher IhoTh ror, ll5 fraud irivulves inienlivnal ¥vniralttLrriL, forucry. Lollusioti. Urni5bion or misrepresenlation. A furthLY description of our resrx)n$ibiliil¢s for Ihe audit of Ihc tlnan¢i81 siaiemenis is locaied on (he Financial ReptIn8 Council's wcbsite at www.fr¢.org.uklaudilor51'uporisibilities. This desiripbon fDfrn5 parl ofour Report ofih¢ Independent Auditors. Uie ofour report This r¢p)rt IJ made solcly t¢> the charily'J Iru5t¢¢5, as a body, in aLL4)rdl¥l with R¢¥uldliiiT) 10 ufihe Charitiu A¢¢ounis (scotlnd) Regulations 2006. Our audit work has been undertak¢n w that We mighi st&lc th¢ ehariiy's tru$l¢¢s ihos¢ atters ive are required to qtfltc lo Ihem in an auditDrs' rewrt 2nd for no other PUTkN)se. 'fo the fulle51 extcnl pcrmiti¢d by Idw. w¢ do nol ilCCCPt or as5UrnC T¢5ponsiblliry io anyonc other than the tharity and lh¢ ¢h8rlry's truA1tt5 &% a trf>dy, for our 4udit wvrk, for this rcport. or for the opinion5 w¢ l?&ve foi'mtyj. Bannerman Johnstone MaGlay Limited Chartered Accoun¢gnts and SialU¢4)ry Auditor Eligible for apw3intmBnt as auditors of ihe chority und¢r regulation 10121 of ihc Charities A¢counlS ISGotland) R£gulationJ by Virtue of ils eligibility under section 1212 of the Cornpanics Aci 2006. 213 St Vincent StK¢¢ Gl&sgow (i2 5QY S December 2025 Page 7
CENTRAL CURDWARA SINGH SABHA- GIASGOW STATEMEThY OF FINANCIAL ACTIVITILS FOR THE YEAR ENDED 31 MARCH 2024 2024 Unraqtricied 2023 Total fllnds N¢$ INCOME AND ENDOWMF,NTS FROM DoThationJ and leRacies 578.042 472 629 EXPENDITURE ON Chiritable sctlvlti Th¢ prvmoiivn ofthe Sikh IrlL8ion. culiurc and bTOthcthood Prof¢ssion8) f¢¢8 in¢luding 4uditoe$ r¢mwi¢ration 282,626 279,lJ4 Oih¢r 4 242 734 TotAI 4531360 279 134 NET IEXPENDITUREIIINCOME (3,3,318) 193.495 Rbl:ONCII.IATION OF FUNDS To1 thnds brou8hi fon4.ord 4.9é6.508 4,773.013 TOTAL FUNDS CARRIED FORWARD 1013 190 4 966 508 The noie3 fonn pan of the financial SteMents P88e 8
BALANCE SHEET 31 MARCH 21124 2024 2023 fund funds FLXED ASSETS Tan£iblE &ty 3Jl 1,068 7.528.828 Debto Inv05tments C&sh at bank 25.(XX) io 100.000 150.034 J22296 (IIEDIIDRS Amounts rlIng due within oneyear 1573353) (629,683) ET CURRENT A&Sfts 423 219 507 387 T(YfAL ASSE73 LESS CURRENr LIABILrriES 2,887.849 7.021,441 CREDrioKs Amounts Mlin8 due after more than one ye8r 12 (1,874.659) (2,054,933) ASSETS 1013 190 FUNDS unr¢¥trict fithds ij 1013 190 TiyfAL FUNDS 1013 19) Th¢ finan¢id Stht¢rnts w•r# apptvv¢d by the B¢wd of Tn¥t¢¢3 and authorised flx is5ug 5 DembEr 2025 $ied on its beElf by.. Tho notes ftimi partof thex fiDancial statements Page 9
CENTRAL GURDWA SINGH SABHA- CLASCOW STATEMF.PT OF CASH FLOWS FOR THE YEAR ENDED 31 Tr14RCH 2024 2024 2023 Nore$ CAJh flows fvom operAlinR activitie8 Cash 8eneraied from opeMtjot18 Interest paid 387.725 126.905 308,069 95.928 Net eash provlded by opcr&ting aciiviii¢5 260 82Q 212 141 CAh Ilows frorts •clfvlti¢s Purchase ol'tangible fixed aysetg Movcmeni in curreni as5ei inve8tyn¢n 136,9991 N¢t cth {useA in}Iprovida by investing a¢tivities 1.16 99)) C•Jh fioy¥ froTh Iln•Melng aetlvlil¢i Loan rtp&ym¢h(J in yr 171.0831 204.476) Net cash used in finlncing x¢ivilies 171.053} 2Q4.4701 reportlng perlod Cgsh and c*Bh tqylvalents it the brflnnlni f th¢ rtpDrling ptrlod 147.262) 7,665 CAih •Dd CaAh •4ufvAlonts At th• end of th• reportlMi p¢rlod The notes fomi p&rt of these financigi stat¢]rJents Pa%¢ 10
CETrmiAL GURDWARA StNGH SABHA- GLASGOW NOTES TO THE STATEMENT OF CASH FLOIVS FOR THE YEAR ENDED JI MARCH 20Z4 RECONCILIATION OF NET IEXPENDITURE)IINCOME TO NET CASH Ftnw FROM OPERATING ACTIVITIES 2014 2023 Iyet {*xpethdliur¢)Ilnttsme lor the reportlnf p¢Ylod (ij r the St4temeni of Flnanclil A¢tlvl¢ksl Adjustmtnts for: Deprcciation ¢hargc$ Interest paid Impalrment losses DcLrewc in d¢br& DecTeuse in ¢treditori 13.953.318) 193.495 12,023 126,905 4.242.734 25,OIK> 656191 83,645 95.928 NEt ¢4$h pnjvlded by operatlDn8 387 725 308.069 ANALYSIS OF CHANGES IN NET DEBT At 1.4.23 C¥sh flow Ai 31.3.24 N¢t c•$h Cash at bank L¢95.' DerA)5LlS w¢Thi¢d a5 liqwd reBourc 97,296 (47.2621 5D.034 100 0001 100.0001 147.2021 49.966) Llquld vesource Deposits it)cluded in co¥h iooooo 100000 Debt Debts falling due within l ye Debts falling due after l year 1249,208) 12,054.9331 19.191) 180274 1258,399) 11.874.659) (2 ID4.141 171 12.131 nSR Tot•1 {2.2068451 123 821 12 083.024) Thc notes foiyn part of these financilll statements Ppg¢ll
CENTRAL GURDWARA SINGH SABHA- GIASGOW
NOTF.S TO THE FINAP4CIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
AccouiYfiNG POLICIES
BASIS of pMp•rln¥ the financial statements
The financiol ¥tat¢rnents of thc chariry. which L8 a public bcncfit entity under FRS 102. hav¢ PTcp3red i
accordance with the ChRTllits SORP IFRS 1021 'Accouniing and Reporting by Charities.. Sthtcmcni of
Rec)mmended PraLtice applicable to charities preparing their accovnts accordance with the FinAneial Repuriin8
Sianddrd appliLJblc in UK and Rcpubllr of Ireland IFRS 102) leffcciivc l January 2019),. Flnantial Reporting
Standard 102'Thc Financial RcportinÈ Standard appli¢abl¢ in Ihg UK Republic of lirlid, and tli¢ Ch4ritirs aThJ
Trusiee Invcstm¢nt {S¢oilAnd) Act 2005. The financial staicmenis have been prepttred under th¢ historical cost
convention. as moditi¢d by the revaluation ol'certain ag8ets.
The financial Sia¢Gmcn15 arc prcw'ed in Sierlin8, wliicli 1$ th¢ fun¥iional ¢urr¢nLy o(Ihr LhdriLy. Monciary arnounis
in these finoncial statemenis are rounded to the near¢sl £.
CrltltAI atcouullng Judt¢ments Ahd key soUtI of estlm•tion uN¢enAinty
Ili pf¢pdriiiB Ilie t1114UILial SidL
CENTRAL GURDWARA SINGH SABHA- CIASCOW NOTES TO THE FINANCIAL STATEMENTS- tontlnued FOR THE YEAR ENDED 31 MARCH 2024 Accou]YrJNC POLICILS- eont1Dd Tin¥lble Ilied #sxts Fixed assets are capithlised at cosi. Irss accumulated dcpreciaiion aThl accumu121ed impairnieni losw. D¢eCIatIon is providcd at the following annu81 Tates in ordcr wriie off each ttsset its residual valuc over 115 estimed usefi]I lif FreclK)Id piDpcrty Fixwr¢y and fiitings 2Vè slrai8ht line 25°A on rcducing balanrx For property asBets. sn impoirmettt rtview 15 pfOrMed eoch yefyr. Indcpendertt profession&] valualions may bc obtained periodi¢ally to asgisl the Irustees in 1$8essin8 whether th¢ ¢arrying amount of the propcrtieB LS con8lSQlIt wlih their rcLoverabl¢ amouni, bui Such valualion5 arc riot retlecled in the accounts unles8 thty indicait on impairment. Wherc Jn irnPaiTment1055 15 idenLified. IL is rccogni&#d in th¢ S¢uiem¢ni of FinlIa1 Acilviiic5 in the period in whi¢h it Irises. Current 9gset Inve#thnts Cui'rcrii asscl invesimcnis Ilde thort-¢emi deposlis and other Investhienis thai are noi equlv21ents as defin&J undcr FRS 102. Thesc invcltmcnts tsrc m¢asurcd fyt &morti3cd cost. bcing the amount iniiittlly recognis¢d 1¢$5 any repayments and adju$ied for 4rnQrtj5ation of any prcmium or di8COUt)t using th¢ cff¢Gliv¢ inlgTf&t mdhod. D¢p05jts wlih ori8inal maiuriiies gre[cr than three month8 8re cl8ssilied as curreni Asset invtslrnents, TaxAtloll The charity 1$ ex¢mw frorn on i¢s djwitsble &ctivitie8. Unrcstricl¢d tunds L4n bc used in &c¢ordJttG¢ with ih¢ choritoblc objcciiycs ai the dijcretion of th¢ irus¢¢r5. Restricted fund$ caft only be used for particulv r¢3lri¢t¢d purp)x&8 within thc objcct5 of the charity- Rcstriuions aTiS¥ wh¢n ¥p¢iificd by the (lonor or wh¥n funds ar¢ rals¢d for parilcular restrictcd purposcB. Further explAnotion ofthc nllture and PUTPOSC uf cach fimd is included in the rt01 to th¢ finwb¢lal 8C¢ts. Pen5knn costs ind other posl-retlremtnt bÈnefl¢s The charity tsperaies a d¢fin¢d contribuiion pension achcme. Contribjtions p8yabl¢ ¢0 Ih¢ p¢n5ion scheme are ch8r8ed 10 the Si•temcrt¢ of Financial Activities Lll ihe period to whi¢h they ttlak. Thc charity only has finaneial assets and financial liabiliti¢s of a kind thai qualify basic financial instrumeno. 8&sic f1tl8ncio1 insirumcnts arc initially regnISed at transaction value and $ubse4uently meaSUTcd at thcir seitl¢m¢n¢ value. Debto Other debr5 are rccogniscd at the settlement amount. Creditor> Cr¢dilors aie T¢rogni5ed where the charity prEsEnt oblsgation resultin8 from a past eveni thai will probably result in the transfer of to a third party and the amount due io settle ihe obligAtion ean b¢ ttL¢asur¢d or ¢3timad rcliabiy. Other crrxliiors are rccognis¢d 41 their settlement aThounL Page 13 ontinued..
CENTRAL GURDWAIL4 SINGH SABHA- GLASGOW NOTES TO THE FINANCIAL STATEMENTS- towtlmued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- eontinued Prior period •dJuAtmt During thc preparHiion of the current year's A¢¢ounts. the audiwr Identified an incon8i8rency beLw¢en th¢ n¢1 movement funds rtporitd in th¢ Ststement of Fin8nGial Activities (SOFA) and the total Shown in the BalanLe Shed at 31 March 2023. The discrepancy arose due to a mlsp)siing of c¢rt8in itrm8 of expenditure, as well u a misclwification within tan8ible fixtd a88ets and other crcditOTS. Thc GoTnpar&tivc figures at 31 March 2023 have been resia*d 10 wrr¢G¢ th¢s¢ trrors. A T¢Gon¢ililllion of the openin8 reserveg is 8et out below. 2023 Re5CTves 83 previouily stated Coi'rection io expendittjit miswpsiing lo Stalement of Financial Activitiei Mi5classification of Isngible fixed assets Mi5classifica(ion ot'oth¢r Gr¢dIrS 4.758.449 16,632) 419,727 205 0361 Re5crv¢s as resthted ot 31 March 2023 4 966 50B DONATIONS AIYD LLGACIES 2024 2023 Donaiion5 Gift old fjr5Jt)¢s Other incom¢ 490.448 70.13.5 850 434,271 10,41¥ 20.000 472 629 Grants received, included tn Lhe ttiK)v¢. ar¢ 4$ IDIIows'. 2024 2023 Glasgow City Council- Punjabi SGhool S¢ottish Government 850 850 PY4gc 14 continlled...
CENTrAL GURDWARA SINGH SABHA- GLASGOW NOTLS TO THE FINANCIAL STATEMENfs- contlnutd FOR THE VEAR ENDED 31 MARCII 2024 CHARITABLE ACTlVtTIES COSTS Supp)rt costs (see notc 41 Direct Totals Thc promotion of the Sikh Teli810n. Culr and broth¢rhood Profe%%i()nal fccs including auditorfs r¢munuaiion 282,626 242,626 6.000 0.0 282 626 288 626 SUPPORT COSTS Governsnce ws Prof¢ssionAI fees including audi$ remuneration TRUSTEES, REMUNERATION AND BENEFITS There were rto iruJtees' remuneration or other betttits for the ye&. ended 31 March 2024 nor for the year ended 31 MaTLh 2Q23. TrniteeR' expÈh#• Therr wcrc no truJiecs' cxpcnsc5 p&id for the year cnd¢d 31 M8rch 2024 nor for th¢ year ¢nded 31 Mch 2023. STAFF COSTS 2n24 2023 WA8cs and salaTi¢S O¢hrr p¢ll$ion 33,J03 215 14,836 Th¢ av¢ra8¢ monthly number ofemploy¢¢s durlng Ihe y¢aT was tts follows: 2024 2023 C¢r¢rnony. worship 8nd Gurthvara duiies No ¢mployees rcccived cmolumcnts in excess of £60.IX)O. The charity considers its kcy rnanagemcnt pcr50nncl to compriyc the trustees and managtrncni commilttt only. PA8e 15 ¢ontinud..
CENTRAL CURDWARA StNGH SABHA- GLASGOW NOT&5 TO THE FINANCIALS"I'ATEMbNTS- eontiued FOR THE YEAR EPIDED 31 MARCH 2024 COMPARATIVLS FOR THE STATEMENT OF FINANCIAL ACTtVlTIES UNrsrri¢41 fund INCOME AND ENDOWMENTS FROM Donaiion5 and legaci¢s 472 029 KXPENDITURE ON Charltable actlvltles Thc prvniu¢iun ulihr Sikh rcligion. lLr¢ ynd Ixoih¢rkniMJ NET INCOME 193.495 RKLONCILIATION OF FUNDS Total tknnds brou8hi forward 4.773,013 TOTAL FUNDS CARRIED FORWARD 4 966 508 TANGIBLE FIXED ASSETS Fixtur Frc¢hold propcrty rLllill8$ To¢il8 COST OR VALUATION Al l April 2023 Addititsns Impairrnents 7,997,424 74,610 36,999 ,072,034 36,999 4,722.4241 4 722.4241 At 31 M8r¢h 2024 3 275.000 3386.6 DEPRECIATIOIY Ai l April 2023 Char8c for ycar Impairtncnts 479.688 63.518 12,023 543.2(k¥ 12,023 479.6RR 479 688> At 31 MBr¢h 2024 NET BOOK VALUE Ai 31 M8r¢h 2024 3 275 000 3 311068 At 31 Marth 2023 7517736 7 528 828 Pa8e 16 continucd.-
CENTRAL GURDWARA SINGH SABHA- GLASCOW NOTES TO THE FINANCIAL STATEMENTS- contlnutd FOR THE YEAR ENDED 31 MARCH 2024 TANGIBLE FIXED ASSETS- eoffttlAuthI Cost or valuation al 31 March 2024 is rcprewiied by: FiXre5 Frtehold propety fittiftgs Tot41$ Vall0ft in 2024 Cost 14.722.424 7 997 424 14.722.424) 8 109033 111609 32750( During ¢he year, Ihe truse$ commlgsloned an independent valuaLion of the charity'5 properties to asse85 wh¢ther any impaimieni adjusimcni was requir¢d. Th¢ valuation wa3 wri¢d out in Novcmb¢r 2025 by Slicpherd Chanti'cd Surveyors. indEpendent fimi tsf qualifi voluer5 regulet¢d by the Royrdl Insiiojtion of Chartcred Surveyo IRILSI.-The valuation was pcrtormcd on the blS of open mayket va]ue for existin8 use. Th¢ valu&iion inditEd a lolal tnark¢t valur 01. £3,275,IJOO, cotnpalrd wilh thc previous carrying amowil or £7,517,736. As è rcsult, the tru5t¢C5 recogniscd an im$M1¢[lI loss of £4,242.734 in ihe Stotement of Financial Activities. Th¢ iws¢¢¢s ¢onsider th&1 th¢ T¢vis¢d Garrying amount rcprc5ents the rttovcrablc alOni of thc pror*rti¢5 as at the bal#n¢e sheet date. DEBTORS: AMOUNTS FALLING DUE WITHItY OIYE YEAR 2024 2023 Other debtors Durit18 the ytsr. the charity wrot¢ Dff a dEbtor of £25,000 12023.. £nill which relatcd to a his1ori1 llmounl pkdgrAI in rel&tLOn to the thArity'S CAT park. After fvlly considcrin8 itJ rocovcrability. thc detcrmined it W08 appropTial¢ lo wri1¢ off the arnount in full. io. CURRENT ASSET INVESTMENTS 2024 2023 Short terni dep)8i¢S 100,000 Invesimcnis in slK)rt Icrm deFM)5118 have att oviglnal tn8turi¢y of12 rnuntlks or Icss. At the balance She dale, the only d¢posit held 15 a flxrd-terni dcposit due to mature in Novembcr 2024. The intcrcst rat¢ was 5Yo. Th¢ inve8trll¢tLt IJ t readily convertible to CBsh wiihoui penalty and is theretore exclu(kd from cash BrKi cash equiv&lent& Page17 conilnu..
CENTrAL GURDWARA SINGH SABHA- GIASGOW NOT&S TO THE FINANCIAL STATEMENTS- rontlDued FOR THE YEAR ENDED JI MARCFI 2024 CREDoRS. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Bank loans and ov¢rdrafts I¢ note 13) Other Credi AccTued expenyes 258.399 288.220 249,208 380.475 573 253 12. CREDITORS: AMOUNTS FALLING DUE A ER MORETHAN ONE YEAR 2024 2023 BAnk loans Iscc notc 131 1874 659 2 054 933 13. inANS An analysi$ of the m8turiry of108n8 is 8iven below., 2024 2023 Amount8 fallin8 due within one year demand: Bank loan5 258399 249.208 Amounts falling betwcen onc ond two yeaTS'. Bank loan5 238 399 249 208 Amounts fallin8 due betwe No ond fLveyears'. B8nk108ny 729 290 Amounts folling du¢ in mor¢ than fiveyears.. Rcpaythle by in3talments'. Bank loans 869,396 1,076,435 14. SECURED DEBTS The followlng S*UTed debts are included within creditors.. 2024 2023 Bank of Scotlond temJ loan 2 272 474 On compldioll of the new Gurdward, the knrrowing5 were converted a ierni loon with Bank of sc18Thd, rcpayablc ov¢r th¢ p¢riod until 2032. Th55 loan has a SIdard securlry ovtt the Ourdwara. Page 18 ontinud...
CENTRAL GilliDWARA SINGH SABHA- GIASCOW NOTES TO THE FVNANCVAL STATEMEIYTS- cor•tlnu FOR THE YEAR ENDED 31 MARCH 2024 15. MOVEMENT IN FUNDS m(>v¢m¢nt In fund8 Ai 31.3.24 Ai1.4.23 Unr•strl¢t¢d fumdB Gcncral fund 4,966,508 (3,9J3.3181 1.013.190 TOTAL Fill¥DS 4.966,5Q8 3.953.318 Net movement in fvnd4 Included in lh¢ above ère &s follows: Incoming r&suuries R¢50ur¢es ¥Kpended Movement in fundy Unrtjtrtcted tbndB Geiicrul fund 578.042 14,531,30UI 13.953.318) TOTAL FUNDS 578.042 4.531360 3.953.318) Compirntlvu for rnov•mént lo funds Net fflovem¢n¢ in furKbs Ai 31.3.23 Ai 1.4.22 Unrestrltt¢d (knEral fund 4,773,013 193,495 4,966,508 TOTAL FUNDS 1773 013 193 495 COMr1ve net movement in funds, included ihe th)ve are as followj: Incoming resourees Rcx>urces expended Movcrnent in funds Unrejtrltttd General fvnd 472.629 (279.1341 193.495 TOTAL FUNDS 471629 279 1341 193.495 Page 19 onlinued.-.
CKNTRAL GURDWARA SINGH SABHA- GIASGOW NOTES TO THE FINANCIAL STATEMENTS- tomdmued FOR THE VEAR ENDED 31 MARCH 2024 15. MOVEMENT IN FUNDS- conliNMed A cvrreni year 12 monthb and prior y¢ar 12 rnonths combin FA)5ition is as follows- Nct movtment in fvnd5 Ai 31.3.24 At 1.4.22 Unr¢s¢rlcf¢d fund$ (3rn¢Tal fund 4,773,013 13.759.823) 1.013.1 TOTAL FUNDS 4.773 013 3,759 8231 1013 190 A ¥urr¢n( yur 12 mLTrnih5 and priur 12 months cornblned ncl movcrncni in tl]nd& included in the above are as follows.. Incoming r¢source4 Rcsourccs expended Movement in Thd5 UDrestrl¢ted futhdi Gener lund ,U5D.671 14.810,4941 13,759.8231 TOTAL FUNDS I.Ct50.671 RELATED PARTY DISCIA)SURES Donotion.5 tothllitt8 £78,(MJQ W¢T¢ TcIV¢d fronj CG Bcrklcy Prop¢rtirJ Limi¢cd. Onc of thc Int¢¢3, Is a director of this Company. This cornp8ny was incorporated in order to perforn tradin8 aciiviiLes Iinki(111) tlii Gurdwa 17. NON AUDIT SERVICES In common wilh oiher dJariiie$ of our siz< we use ow audiw to wL81 in the pttp8r&ion of the financial ststrmrnis. Pa8e 20