CHARITY REGISTRATION NUMBER: SC040463 Dashmesh Charitable Trust Unaudited Financial Statements 31 March 2025 Gilliland & Company Churhr•d Attountonls Dashmesh Charitable Trust Flnancial Statements Year ended 31 March 2025 Page Trustees, annual report Independent examiner's report to the trustees statement of financial activities Statement of financial position Notes to the financial statements The following pages do not form part of the financial statements Detailed statement of financial activities 13 Notes to the detalled statement of financial activities 14 Dashmesh Charitable Trust Trustees. Annual Report Year ended 31 March 2025 The trustees present their report and the unaudited financial staternents of the charity for the year ended 31 March 2025. Reference and administrative details Reglstered charlty name Dashmesh Charitable Trust Charity reglstratlon number SC040463 Principal office The truste88 Independent examlner Richard Gilliland Gilliland & Company 216 West George Street Glasgow G2 2PQ structure, governance and management The Dashmesh Trusl was legally constituted by Trust Deed on 7 May 2009. The trust currently has three Trustees. Were there to be a requirement for new trustees, these would be identified and appointed by the remaining trustees. Objectives and activities The Trust's principal objective as defined in the Deed of Trust is to raise and administer funds for charitable purposes, cultural, educational, religious and social, and for the promotion of religious and racial harmony in Scotland and other parts of the world. Donations are made at the sole discretion of Trustees as they see fit. Achievements and performance The Trust's main source of finance in the year was rental income. A variety of charities and organisalions in the year benefited from donations and from the Trust in the course of the year. Dashmesh Charitable Trust Trustees. Annual Report (contlnuedj Year ended 31 March 2025 Flnanclal review Durlng the year under r&vlew, the Trust recelved Income of £117,278 and had total expendlture of £116,943, resulllng in a nel operatlng proflt of £335. The Investment properly was revalued durlng the year, which resulted In a falr value adjuslment of £200,000. Thls results In a nat decrease In fund value of £200,000. Resenies Pollcy The Charily's pollGy Is to altempt lo maintain sufficient reseNes to cover at least six months anticipated expenditure. The trustees, annual report was approved on 12 November 2025 and slgned on behalf of the board of Irustees by.. Tiuslee Dashmesh Charitable Trust Independent Examiner's Report to the Trustees of Dashmesh Charitable Trust Year ended 31 March 2025 I report to Ihe trustees on my examination of the financial stalemenls of Dashmesh Charitable Trust (Ihe charily,) for the year ended 31 March 2025. Responslbllities and basls of report As the trustees of the charlly you are r8sponsSble for the preparatloi of the flnanclal statements in 8ccordance wth the requlr8m8nts of the Charlties and Trustee Investm8nl (Scotland) Act 2005 (the '2005 Act,) and th8 Charllies Accounts (Scolland} Regulallons 2006 (as amended). You ar8 sallsfied that your charlty is not required by charlly law lo be audlled and have chosen Inslead to have an Independent examlnatlon. I report in respect of my examination of the charity's financial statements as carried out under section 44{1)(c) of the 2005 Acl, In carrying out rny examlnalion I have followed the requlrements of Regulation 11 of Ihe Charities Accounls (Scolland) Regulations 2006 (as amended). Independent examlner's statement Slnce the charlly has prepared Ils accounts on an accru818 basls your examlner musl be a member of a body Ilsted in Regulation 11(2) of the Charilies Accounts (SGotlandl Regulations 2006 (as amended). I can confirm that l am qu81ified lo undertake the examlnalion because l am a registered member of ICAS whlch is one of the listed bodies, I have comple18d my examinallon. I confirm Ihat no malters have come lo my attention givlng me cause to believe Ihal in any material respect.. accountSng records were not kepl as required by secllon 44(1)(a) of the 2005 Act and Regulation 4 of the Charilies Accounts (Scolland) Regulalions 2006 las amended)., or the flnancial statements do not accord with Ihos8 records. the flnanclal stalemonls do not comply with (h8 accounting requlrements of Regulation 8 of th8 Charities Accounts (Scollandl Regulations 2006 (as am8nded), I have no concerns and have Gome across no other mallers In connection with the examinalion lo which allenlioll should be drawn in this report in order lo enable a proper und8rstandlng of the accounts to be reached, GilliSaiid & Compaiiy Ind8pendenf Examiner 216 Wesl George Street Glasgow G2 2PQ 12 November 2025 Dashmesh Charitable Trust statement of Financial Activities Year ended 31 March 2025 2025 Unrestricted funds Total funds Total funds 2024 Note Income and endowments Donations and legacies Investment Sncome 1.000 116,278 1,000 116,278 116,460 Total Income 117,278 117,278 116,460 Expenditure Expenditure on charitable activities Total expendlture 116,943 116,943 116,943 98,279 116,943 98,279 Investment property fair value adlustment 200,000 200,000 100,000 Net expendlture and net movement In funds (199,665) {199,665) (81.819) Reconcillatlon of funds Total funds brought fO￿ard Total funds carried forward 1,373,919 1,373,919 1.455.738 1,174,254 1,174,254 1,373,919 The statement of financial activities includes all gains and losses recognised in the year. All Income and expenditure derive from continuing actlvltles, The notes on pages 6 to 11 form part of these flnanclal stalemonts. Dashmesh Charitable Trust statement of Flnancial Position 31 March 2025 2025 2024 Note FIKed assets Tangible fixed assets 12 1,000,000 1,200,000 Current assets Debtors Cash at bank and In hand 13 30,834 178,361 36,644 177,663 209.195 214,307 Credltors: amounts falllng due wlthln oné year Net current assets 14 34,941 174,254 1,174,254 1,174,254 40,388 173,919 1,373,919 Total assets less current Ilabllltles N8t assets 1,373,919 Funds of thè charlty Unreslrlclad funds.. Revaluallon r8S8Na Olher unreslrlcted Incom8 funds Total unrestrfcted funds (679,503) (479,503) 1,853,757 1,853,422 1,174,254 1,373,919 16 1,174,254 1,373,919 Total charlty funds These ffinanclal staternents were approved by the board of trustees and authorlsed for Issue on 12 November 2025, and are slgned on beh81f of the board by: Truslee Th8 notes on pages 6 to 11 form part ofth&se flnanclal statements. Dashmesh Charitable Trust Notes to the Financial Statements Year ended 31 March 2025 General Informatlon The charlty Is a publlc benefit entity and a reglstered charlly In Scotland and Is unlncorporaled. The address of the principal office is 6 Thorn Avenue, Thorntonhall, Glasgow, G74 SAT. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Flnancial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Praclice applicable to charities preparing their accounts in accordance with the Financia5 Reporting Standard appliGable in Ihe UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and Ihe Charities and Trustee Investment {SGOtland) Act 2005 and the Charity Accounts (Scotland) Regulations 2006 (as amended). Accounting policles Basls of preparation The financlal statements have been prepared on the hlstorical cost basis, as modlfied by the revaluation of cerlaSn financlal assels and liabilltles and Investment propertles measured at falr value through income or expendlture. The financial st8temenls are prepared in sterling, which is the functional currency of the entily. Golng concern There are no malerial unGertainlles about the charlly's ability to continue. Judgements and key sources of estlmation uncertainty The preparation of Ihe financial slatemenls requires management lo make Judgements, eslimatos and assumptions Ihat affect the amounts reported. These estimates and ludg8ments are continually reviewed and are based on experience and other factors, including expeGtalions of future events Ih8t are believed lo be reasonable under Ihe circumstances. Fund accountlng UnrestrlGted funds are available for use at the discretion of Ihe trustees to further any of the charily's purposes. Deslgnated funds are unrestrlcted funds aarmarked by the truslees for particular future project or commitment, Reslricled funds are subjected to reslrlGllons on IheSr expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-Glasses'. restricted Income funds or endowment funds. Dashmesh Charitable Trust Notes to the Financial Statements (contlnu8dJ Year ended 31 March 2025 Accountlng pollclès {contlnuedJ Incomlng resources All Incoming resources are included in Ihe slalement of financial actlvities when entitlement has passed to Ihe charity. il is probable that the economic benefits associated wilh the transaction will flow to the charity and the amount can be reliably measured. The following spacific pollcles are applled lo parllcular categories of income.. income from donations or grants Is recognised when there is evidence of enlitlemenl to the gift, recelpt is probable and115 amount can be measured reliably. legacy Income Is recognlsed when receipt Is probable and entitlement Is eslabllshed, income from donated goods is measured at the fair value of the goods unless this Is impractical to measure re118bly, in which case Ihe value is derived from the cost to Ihe donor or the estimated resale value. Donated facilitles and services are recognised in the accounts when received if the value can be reliably measured. No amounts are Included for the conlrlbution of general volunteers. income from conlracts for the supply of servlces Is recognlsed wllh th8 delSvery of Ihe contracted service. This Is classlfied as unreslrlcted funds unless there Is a conlractual requirement for it to be spent on a partlcular purpose and returned If unspent, in which case it may be regarded as reslricted. Resources expendÈd Expendlture is recognised on an accruals basis as a liability is Incurred. Expenditure includes any VAT whlch cannot be fully recovered, and Is classified under headings of the statement of flnanclal aclivlties to whlch il relates.. expendSture on raising funds includes the costs of all fundraising activities. events, non-charilable Iradlng aclivities, and the sale of donated goods. expendllure on charitable aGtivities inclLtdes all costs incurred by a charity in undertaking activities that further Its charilable aims for thé benefit of ils beneficlarles, including those support costs and costs relating to the governance of the charily apportioned lo charllable aclivilies. other expenditure Includes all expenditure that Is neither relaled to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated lo expenditure categories reflecting the use of the resource. Direct costs allributable lo a single activity are allocated directly lo that aclivily. Shared costs are apporlioned between the actlvities they contribule to on a reasonable, justifiable and consistent basis. Tanglble assets Tanglble assets are initially recorded al cost, and subsequently stated at cost less any accumulated depreciatlon and impairment losses. Any langlble assets carried at revalued amounts are recorded al the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequant accumulated Impairment losses. An increase in the carrylng amount of an asset as a result of 8 revaluation, 15 recognlsed in other recognised gains and losses, unless it reverses a charge for impalrment that has prevlously been recognised as exp6nditure wlthin th@ slatemenl of f Inancial actlvlties. A decrease in the carrylng amount of an assel as a result of rÉvaluation, Is recognlsed in other recognised galns and losses. excepl to which il offsets any previous revaluation gain, in whSch case the loss is shown wllhln other recognis8d galns and losses on the slatemenl of financlal activities. Dashmesh Charitable Trust Notes to the Financial Statements {¢ontlnuedJ Year ended 31 March 2025 Accounting pollcles (conllnuedj Flnanclal Instruments A financial assel or a financial liability is recognised only when the charity becomes a party to the contractU81 provislons of the inslrumenl. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured al the cash or other conslderallon expected to be paid or received and not discounted. Debt instruments are subsequently measured at amorllsed cost. Where Investmenls in shares are publicly traded or their fair value can otherwise be measured relSably, Ihe investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such inv8Stm8nts are subsequenlly measLtred at cosl18ss impalrment. Other financlal instruments, including derivatives, are initially recognlsed at falr value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of inleresl that is not a market rate, in which case Ihe asset is measured at the present value of the future payments discountecl al a market rate of interest for a slmilar debt Instrument. Other financial instruments are subsequenlly measured at falr value, wlth any changes recognised In the statement of financial activi1Ses, with the exception of hedging Instruments In a designated hedging relationship. Financial assets that are measured at cosl or amortised cost are reviewed for objective evidenc8 of impairment at the end of each reporting date. If there is objeclive evidence of impairment, an impalrmenl loss is recognised under the appropriate heading in the statement of financial activities in which Ihe initial gain was recognised. For all equity instruments regardless of slgnificance. and olher financial assets thal are individually signiflcant, these are assessed Sndividually for impairment. Other financial assets are esther assessed individually or grouped on the basis of similar credit risk characlerislics. Any reversals of Impairment are recognlsed immediately, to the extent that the reversal does not result in a carrylng amount of the financlal asset that exceeds what the carrying amount would have been had the impairmenl not previously been recognised. Donatlons and legacles Unreslricled Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Donations Donations 1,000 1.000 Dashmesh Charitable Trust Notes to the Financial Statements (eonflnued) Year ended 31 March 2025 Investment income Unrestricted Total Funds Unreslrictod Total Funds Funds 2025 Funds 2024 Income from investment propertles Bank interest receivable 109,028 7.250 109,028 7,250 113,762 2,698 113,762 2,698 116,278 116.278 fj16,460 116,460 Expendlture on charitable activlties by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Donations Support costs 107,100 9,843 107,100 9,843 78,000 20,279 78,000 20,279 116,943 116,943 98,279 98,279 Expendlture on charitable activlflès by actlvlty type Grant funding of activitles Support Total funds costs 2025 Total fund 2024 Donations Insuranca Governance costs 107,100 107,100 9,084 759 78,000 18,464 1,815 9,084 759 107,100 9,843 116,943 98,279 Investment property falr value adjustment Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Gainslllosses) on Inveslmenl properly {200,000) (200,000) (100.000) (100,000) Independent examlnation fees 2025 2024 Fees payable lo the independent examSn8r for: Independent examination of Ihe financial stalemenls 760 1,815 10. Staff costs No salaries or @xpenses have been pald lo employees during the year. The average head counl of employ885 durlng the year was Nil (2024.. Nil}. No employee received employee benefits of more than £60,000 durlng the year (2024; Nil). 11. Trustee remuneration and expenses No salaiSes or expenses hava been pald to Iruslees durlng the year. Dashmesh Charitable Trust Notes to the Financial Statements (contlnued) Year ended 31 March 2025 12. Tangible flxed assets Investment Property Cost At 1 April 2024 Revaluations 1,200,000 (200,000) 1,000,000 At 31 March 2025 Depreclatlon At 1 April 2024 and 31 March 2025 Carrying amount At 31 March 2025 1,000,000 1,200,000 At 31 March 2024 13. Debtors 2025 2024 Trade debtors Prepayments and accrued income Other debtors 30,105 33.251 2.394 999 729 30,834 36,644 14. Creditors: amounts falling due within one year 2025 2024 Trade creditors Accruals and deferred Income Social security and other taxes 3,146 25,552 11,690 23,158 11,783 34,941 40,388 q5. Deferred Income 2025 2024 Amount (leferred in year 23,158 25,552 10 Dashmesh Charitable Trust Notes to the Financial Statements (contlnued) Year ended 31 March 2025 16. Analysis of charitable funds Unrestricted funds At Gains and 31 Mar 202 losses At 1 Apr 2024 Income Expenditure Transfers General funds Revaluation reserve 1,853,422 117,278 (116.943) 200,000 (200,000) 1,853.757 (479,503) 1,373,919 (200,000) (679,503) (200,000) 1,174,254 117,278 (116,943) Al Galns and 31 Mar 202 losses At l Apr 2023 Income Expenditur8 Transfers General funds Revaluation reseNe 1.835,241 116,460 (98,279) 100,000 (100,000) 1,853,422 (379,503) 1,455,738 (100,000) (479,503) (100,0001 1,373,919 116,460 (98,279) 17. Analysis of net assets between funds Unrestricted Total Funds Funds 2025 Tangible fixed assets Current assets Creditors less than l y8ar Net assets 1,000,000 209,195 134.941) 1,174,254 1,000,000 209,195 (34,941) 1,174,254 Unreslrlcled Total Funds Funds 2024 Tangible fixed assels Current assets Creditors less than 1 year Net assets 1,200,000 214,307 (40,3881 1,373,919 1,200,000 214,307 (40,388) 1,373.919 11 Dashmesh Charitable Trust Management Information Year ended 31 March 2025 The followlng pages do not form part of the financial statements. 12 Dashmesh Charitable Trust Detailed Statement of Financial Activities Year ended 31 March 2025 2025 2024 Income and endowments Donatlons and legacies Donallons 1,000 Investmont Income Income from investment properties Bank inleresl receivable 109,028 7,250 113,762 2.698 116,278 116,460 Total Income 117,278 116.460 Expenditure Expenditure on charitable activltles Insurance Legal and professional fees Olher office costs Gurdwara Granth Sahlb Scotllsh Sikh Councll Guru Nanak Trust 9,050 759 34 5,000 13,412 6,815 52 5,000 3,000 70,000 102,100 116,943 98,279 Total 6xpendlture 116,943 98,279 Investment property fair value adjustment Gainsl(losses) on investment property 200,000 100,000 Net expendlture (199,665) (81,819) 13 Dashmesh Charitable Trust Notes to the Detailed Statement of Financial Activities Year ended 31 March 2025 2025 2024 Expenditure on charltable activitles Donatlons Grant fundlng activitles Gurdwara Granlh Sahib Scollish Slkh Council Guru Nanak Trust 5,000 5,000 3,000 70,000 102,100 107,100 78,000 Insurance Support costs Insurance & factors Consultancy Bank charges 9,050 13,412 5,000 52 34 9,084 18,464 Governance costs Accountancy fees 759 1,815 Expendlture on charltable actlvltles 116,943 98,279 14