REGJSTERED CHARITY NtJMBEIL. sc￿1306
REPORT OF THE TRu￿EE5 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 ACTIV￿ll
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 main*Thance 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 ¢dU￿1n8 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 Incre￿Ing.
FINANCIAL REVIEW
FlnA*¢lxl POAltlon
Thc s￿lement 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 Lh￿IlY 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 hi￿er from the
¢on8￿Bation 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 aCco￿ntS so tha¢ thc fund5 are held in a risk frtt liquid form. Th¢ ¢harity se¢k8
obtain the best rate tsf in*TeSt 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 LO￿1117111#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$t and con8t1Dj￿ &n UnirKor￿)fattd charity.
Rternltm¢nt *tsd Apptsltttment of iew trnstets
The charity four pcrmancnt irustccs. Thc appointment of any new In]3¢c¢s and thr re-¢l¢ction of¢xistin8 trustees shall
bc in accordance with the con41ituuon of¢harity.
The appolntmeni of new tru5tttJ will bc ai ihc discretion of the Cilml trusl¢cs as F¢r th¢ consti(uiion.
Ory*nis*tion415trnctUTt
Thr Gharity 15 governed by four pemian¢nL ¢ru8w¢s, who are responsible for the ovcrnll dir¢cilon of thc charity in mcciin
ils objectives. However, the Irllstees hav¢ forrnlllly delcgaied the day-to4ay mana8¢Jnent of Ihc Gutdwar& inGluding th¢
owersi8ht of roulin¢ opew81ions financial mailers, to the Managemen( Commiiiee. Thig eommittec 15 made up of elected
o(fic¢ bearcT5. including thc Prc%idthi. Vite-PrL$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 tr￿steel 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 pl￿perty and siirplvs fvnds. specifically those relaiing t¢) 134 and 138 Btrkelry Street.
This $h8r¢d gtvernance model rtflects the £ollaboratÉvc approach taken by both th¢ Irusiccs and the ManaEem¢n
Commitlee. ensurin8 both complian¢¢ with OSCR re8ulaiions find the effeciiv¢ opcr&tion&l mana8cment of the chariry. In
recognition of this Ehared resp)nsibility. the tnJ#iees hAVC agreed ihat boih a trustee and o rn¢Tnb¢r of ihe ManaBemeni
Committee will sign thc R¢port of thc Tru5tccy. Thi5 more accurately rcflrcLs Ihe joint invnlvemenl of both pariits in the
financial ovtt3j8ht of thc charity. though the irustegs thal thcy knld ultimaic Fesponsibility.
Ihduttknh •nd tTAlThlTri of Ivllittei
New Iru51¢¢s 8re mide aw&e ot. any essentl81 informaiinn Irquired loi. their mle with ihe chjriry by the rKisiin8 tru5teey,
IllLludin8 Uirir rights and ra5w>nsibilili¢S W￿¢r th¢ Scottish Charity Regula￿13 fjuSdancr- Guidanc¢ and good pra¢ii¢e for
hority truslces.
R15k rnAn*i¢mtht
Tlic Lru51¢¢5 Iiuvc d duly 10 idenufy #nd review the risks io whl¢h the charity is exposcd to ensuir appropilat¢ controls
re in pldcc to provide ￿4?On￿bI¢ th5Jurance ¥aIn￿ fraud and c￿01..
Th¢ principal risk, and plan for rnitl8atin8 ihis, i$ aroiind ihe aTea% (It. loss otr don&lion income. There 15 a risk thAi income
¢ould f￿11 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 2￿5 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$t¢es and the financial statemcnis in aceordance with
applicable law and Unitcd Kingdotn Accounting Standards (United Kl'ngdorn fjenerally Accepied Accountin8 Practice).
Charity law requir¢s th¢ trust¢¢s to prcparc financial 51alctneiils for ¢aLh financial year. Under Ihai law, th¢ trust¢¢s hav¢
elcctLyI to prcparc thc financial 8latcmcnts in accordance with United kn'ngdom Gencr&lly Acc¢pt¢d Accouniing PraLiice
(u￿ted Kin8dotn Accounting St8ndDrds and npplicNblc lawl.
Under charity law the truslees must not approve the fin8n¢iAI st8tements unless they are 5ati$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 ac￿untIn¥ 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. ex￿p1 for the rffects of ihe matier dc8cribcd in thc B￿lS 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 a￿oi¥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 ¢vid￿r¢
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 8pPl￿PrI￿¢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 In￿lee8, use of the 80in8 concert) basis of ￿￿U￿ting in the
prepÈi*tivn 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¢5￿￿5]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&s￿teMent 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
M*tttF5 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$, th¢ Iru51ecs are ￿sponsible for the prcparalion ol'the
IillaiJLi&I sidi¢menib whi¢h glyc A Irue and fair vi¢w. and for such intcrnal conirol as the tiust¢es dei¢miine is necessary ts)
enabk th¢ pr¢para¢ion or rinDn¢ial si#iements that irc f￿¢ fi￿nI materi&l mi5siaitm¢ni, wkihri. dl￿ ￿ fi?ud ur crrur.
In prrpsrin8 Ihe fin8llciAI statements, Ihc Iru5tees are Te$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¢ l￿dIt of fht Ilffl*nrlg1 stAtemeiti
We have been apwinie(J a& audilDf5 undei. Section 4411 Ilcl o(Ih¢ Charliles and Tr￿ee 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. MisS￿lemen1S 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[eme￿ts.
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 corr0￿rated 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
cEl￿rRAL 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 proc￿5,.
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 cD*ire compleienes% and
cul-off around ycar end bccn appropriai¢ly appli¢d.' and
¢ssing Ihe exienl of compli￿nCe with rclevant laws and rc8ulalir>n$.
En8agcmen( ieam membcTS wer¢ a180 bri¢fed on relevats¢ laws, regulations poteniial fiaud risk4 ond were
reminded to remain aleri to indications of nnn.u)mpli&nce Ihmughoiil the audit.
Duc lo the inhereni lirnitationJ of ￿ audi( thcrc is a risk th* w¢ will not detect all 1￿C8U1&ritltS. inGludivg tho3e Icadi￿8 Io
a rnaie¥ial missthtem¢nl in thc financial SlAtrmrnts or Th)n-compliance wilh r¢8ulp¢ion. This Tisk incr￿e3 the morc Ihat
ornpliance with a law Dr regulaiion 1$ rtmnved from Ihe events And transactions refl¢¢ted in Ihe financial St¥l￿en1$,
will b¢ l¢ss lik¢ly io ￿orne &waK of insiances ol- non.compli8nce. The risk is also ¥reater regarding irregularities
OrGu￿1n8 duc to fraud rttiher IhoTh ￿ror, ll5 fraud irivulves inienlivnal ¥vniralttLrriL, forucry. Lollusioti. Urni5bion or
misrepresenlation.
A furthLY description of our resrx)n$ibiliil¢s for Ihe audit of Ihc tlnan¢i81 siaiemenis is locaied on (he Financial Rep￿tIn8
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)rd￿l¥l with R¢¥uldliiiT) 10 ufihe Charitiu A¢¢ounis
(scotl￿nd) 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
To￿1 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 St￿eMents
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 r￿lIng 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¢rn￿ts w•r# apptvv¢d by the B¢wd of Tn¥t¢¢3 and authorised flx is5ug 5 D￿embEr 2025
$i￿ed on its beE￿lf by..
Tho notes ftimi partof thex fiDancial statements
Page 9

CENTRAL GURDWA￿ SINGH SABHA- CLASCOW
STATEMF.P*T 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
C*Ah 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 y￿r
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¢b￿r&
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 lir￿lid, 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 soU￿tI of estlm•tion uN¢enAinty
Ili pf¢pdriiiB Ilie t1114UILial SidL<iiieiiis, Ilie truyt¥rs r¢quiJ'rd lu tnake es11m￿eS wnd a55umpiiuns which affecr
reported income, exptnsBS. u$8¢1& and lillbilities. Use of availablE inttKtnalion 8nd appliGatiL>n of judgcmcni are
inherent in lh¢ forrnBtion ol. Lstimates, 108ether wilh p&si experiencc ynd expgctations of tuwrc events th￿ are
b¢li¢ved to be reasonable undcr Ihc ctrcum512n¢es. Actual results in thc futurc could ditlcr Irom Such e￿lma￿.
The tr￿slee9 ore 9aiisli¢d th&t th¢ accouniin8 policie5 are appropri4¢ and ipplied eOffjiSl¢n¢ly. K¢y sources ot.
e81imation have be¢rt ipplicd in determining the depreciation vites.
All inLomc is reco8nised in thr St&l￿rnt of Financilll Activities once lh¢ Chariiy h4$ enii¢lemenl lo the fvndJ. Lt L5
probFhle thAt th¢ inromc will b¢ rcceived and the 8mL)uni ¢8n be measured Teliably.
Where applicable. 8ron(5 frorn thc govcmment Are recognisEd at th¢ir fair vilu¢ whcir th¢rc is a rcasonablc
as$urllnEe that Ihc will be rccciv¢d and thaL the charity will romply with all atlachcd conditions. Whcre ihe
grani in¢ome reLqicg to a purticulai. ¢xpense iiem. Ihe groni incomc is rccogniscd in the .Slatemtnt nt. Finan¢ial
Aciivilies over the sithie prritrd 4& th¢ ￿pensE il i5 in￿nded ￿ compensaiion.
ExpeAdltur¢
Expenditurc i5 Tccogniscd once there 18 8 legal or con51rueiivc obligation ￿ make a paymeni io a ihird party, 5¢ is
prob*>lc Ihai stn]cm¢nt will be ￿qUIrEd and the amount ol. Ihc obligaLiTrn can b¢ m¢asured Tellably. Expcndilurc 15
accounted for on 8n B¢cruals basis and h&B been classificd under headin85 that aggfegatr all costs rclaied 10 the
tate80ry. Th¢ charity is not regisiertd for VA T and 2xpendiDJre thcTefore includes Any VA T which GBnnoi b
rccovcrcd. and is r¢porkd as pait vfihc cxpcnditurc lo which it relatts.
Charitabl¢ cxpenditurc compriscs th03c cost5 incurrcd by the charity in Ihc dcliwcry of its actlVLti¢J aTrd 5crYices for
it5 beneficiarits. 11 includes ￿1h ¢OSLs ¢hat can b¢ allocaled directly to such a¢iivi11¢5. th05¢ costs of an indirccl
na(ur¢ necessary to suppon them.
Qovcrtrwjcfj wstS GOmPri% those costs involvtn8 thc public accounth'lity of thc GhariLy and its ¢vmplian¢c wilh
regulalioD5 and good prac(ice. They therefor< inGlud¢ the G05ts of thc wdit and other ￿tv1￿$ litth¢d to th¢ &tratcBic
anagement of the charity.
C•sh aThd wui¥al*nts
Cash at bonk and in h￿d in¢lud¢s rAsh and shon terni highly liquid investment& with n 3hort rndturity of thrcc
months or less from the date of acquisition or opcningof the d¢w)$it or 5irnil￿ aceounL
Pagc 12
wntinuEd...

CENTRAL GURDWARA SINGH SABHA- CIASCOW
NOTES TO THE FINANCIAL STATEMENTS- tontlnued
FOR THE YEAR ENDED 31 MARCH 2024
Accou]YrJNC POLICILS- eont1D￿d
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
estim￿ed 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 p￿fOrMed 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 Fin￿lIa1 Acilviiic5 in the
period in whi¢h it Irises.
Current 9gset Inve#th*nts
Cui'rcrii asscl invesimcnis I￿l￿de 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 8￿C￿¢￿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 re￿gnISed at transaction value and $ubse4uently meaSUTcd at thcir
seitl¢m¢n¢ value.
Debto
Other deb￿r5 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
¢3tima*d 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 •dJuAtm￿t
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¢dI￿rS
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.
Cul￿r￿ 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 M￿ch 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- eonti*ued
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. ￿lL￿r¢ 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:
FiX￿re5
Frtehold
propety
fittiftgs
Tot41$
V￿￿all0ft in 2024
Cost
14.722.424
7 997 424
14.722.424)
8 109033
111609
32750(
During ¢he year, Ihe trus￿e$ 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 b￿lS of open mayket va]ue for existin8 use.
Th¢ valu&iion indi￿tEd 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 a￿lO￿ni 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 his1ori￿1 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
CRED￿oRS. 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 sc￿18Thd,
rcpayablc ov¢r th¢ p¢riod until 2032. Th55 loan has a SI￿dard 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
COMr￿￿1ve 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¢ T￿cIV¢d fronj CG Bcrklcy Prop¢rtirJ Limi¢cd. Onc of thc In￿t¢¢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