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||||||||Pages|
|---|---|---|---|---|---|---|---|
|Trustees'|annual
report (incorporating|||the|director's|report)|1to4|
|Trustees'|responsibilities
statement|||||||
|Independent
auditor's||report to|the members||||6to 9|
|Statement|offinancial|activities|(including||income and|||
|expenditure
account)|||||||10|
|Statement|offinancial|position||||||
|Statement|ofcash flows||||||12|
|Notes to the financial||statements|||||13to 21|
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|Reference|and administrative|and administrative|and administrative|details||||
|---|---|---|---|---|---|---|---|
|Registered|charity|name||Bagri Foundation||||
|Charity registration||number||1000219||||
|Company|registration||number|02530127||||
|Principal office and||registered||6th Floor||||
|office||||167Fleet Street||||
|||||London||||
|||||EC4A 2EA||||
|||||United
Kingdom||||
|The trustees||||||||
|||||The Hon. Mr A Bagri||||
|||||The Lady Bagri||||
|||||The Hon Mrs. A Bagri||||
|||||Ms Amisha
Bagri||||
|||||Mrs Aditi Malhotra||||
|Company|secretary|||Mr Jasvinder
Singh Kalsi||||
|Auditor||||Ferguson
Maidment|&|Co.||
|||||Chartered
accountants||&statutory|auditor|
|||||167Fleet Street||||
|||||London||||
|||||EC4A 2EA||||
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||||||||Period from|
|---|---|---|---|---|---|---|---|
||||||||1 Jul 19to|
||||||Year to|31Aug 21|31 Aug 20|
||||||Unrestricted|||
||||||funds|Totalfunds|Total funds|
|||||Note||f|K|
|Income and|endowments|||||||
|Donations||||5|1,458,346|1,458,346|1,550,059|
|Investment|income|||6|1,313,539|1,313,539|922,530|
|Total income|||||2,771,885|2,771,885|2,472,589|
|Expenditure||||||||
|Expenditure|on raising funds:|||||||
|Costs|ofgenerating|income|||202,929|202,929|231,567|
|Expenditure|on charitable|activities||'7,8|1,076,431|1,076,431|829,025|
|Total expenditure|||||1,279,360|1,279,360|1,060,592|
|Net income|and net movement||in funds||1,492,525|1,492,525|1,411,997|
|Reconciliation
offunds||||||||
|Total funds|brought
forward||||14,621,950|14,621,950|13,209,953|
|Total funds|carried forward||||16,114,475|16,114,475|14,621,950|
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||Year end|ed 31August 2|021||
|---|---|---|---|---|
||||2021|2020
f|
|Cash flows from operating|activities||||
|Net income|||1,492,525|1,411,997|
|Adjustments
for:|||||
|Government
grant income|||(3,229)|(43,599)|
|Dividends,
interest and rents|from investments||(449,787)|(565,956)|
|Other interest receivable
and similar income|||(863,752)|(355,574)|
|Interest payable
and similar|charges|||9|
|Accrued expenses/(income)|||34,318|(39,679)|
|Changes/n:|||||
|Trade and other debtors|||(1,641)|3,472|
|Trade and other creditors|||402,334|(1,609)|
|Cash generated
from operations|||610,769|407,761|
|Interest paid||||(9)|
|Interest received|||865,674|368,791|
|Net cash from operating
activities|||1,476,443|776,543|
|Cash flows from investing|activities||||
|Dividends,
interest and rents|from investments||449,787|566,956|
|Purchases
ofother investments|||(691,663)|(26,400)|
|Net cash (used in)/from
investing
activities|||(241,876)|540,555|
|Cash flows from financing|activities||||
|Government
grant income|||3,229|43,899|
|Net cash from financing
activities|||3,229|43,899|
|Net increase
in cash and cash equivalents|||1,237,796|1,350,998|
|Cash and cash equivalents|at beginning|ofyear|8,011,371|6,650,373|
|Cash and cash equivalents|at end ofyear||9,249,167|8,011,371|
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|Donations||||||||
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||||Funds|2021|Funds|2020|
|||||6|6|6||
|Donations||||||||
|Donations|received|||1,455,117|1,455,117|1,506,160|1,506,160|
|Grants||||||||
|Government||grant income||3,229|3,229|43,899|43,899|
|||||1,458,346|1,458,346|1,550,059|1,550,059|
|Investment||income||||||
|||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||||Funds|2021|Funds|2020|
|||||F||5||
|Income from||UK investment|properties|449,787|449,787|566,956|566,956|
|Bank interest receivable||||863,752|863,752|355,574|355,574|
|||||1,313,539|1,313,539|922,530|922,530|
|Expenditure||on charitable|activities|by fund type||||
|||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||||Funds|2021|Funds|2020|
|||||5|6|5|6|
|Charitable|grants awarded|||858,803|858,803|521,887|521,887|
|Support costs||||217,628|217,628|307,138|307,138|
|||||1,076,431|1,076,431|829,025|829,025|
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|Expenditure|on charitable
activitie|s by activity typ|e|||
|---|---|---|---|---|---|
|||Grant funding|Support|Totalfunds|Total fund|
|||ofactivities|costs|2021|2020|
|||6|6|6|6|
|Charitable|grants awarded|858,803|211,628|1,070,431|821,577|
|Governance|costs||6,000|6,000|7,448|
|||858,803|217,628|1,076,431|829,025|
|Analysis ofsupport costs||||||
||||Analysis of|||
||||support costs|Total 2021|Total 2020
f|
|Staff costs|||89,279|89,279|184,989|
|Communications
and IT|||7,837|7,837|5,010|
|General office|||3,035|3,035|23,521|
|Governance|costs||6,000|6,000|7,450|
|Advertising|and marketing||27,619|27,619|18,265|
|Loss/ (Gain) on foreign exchange|||83,858|83,858|67,903|
||||217,628|217,628|307,138|
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|Analysis ofgrants|||
|---|---|---|
|||Period from|
||Yearto|1 Jul 19to|
||31Aug 21|31 Aug 20|
||6|6|
|Grants to institutions|||
|Culture|307,355|359,075|
|Education|501,500|127,000|
|Health|35,500|25,974|
||844,355|512,049|
|Grants to individuals|||
|Culture|14,448|9,838|
|Total grants|858,803|521,887|
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|||Period from|
|---|---|---|
||Year to|1 Jul 19to|
|31|Aug 21|31 Aug 20|
||6,000|7,450|
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|entity were received
by the trustees (2020: ENII). No members
o
reimbursement
ofexpenses (2020:fNil).
Investments|fthe Board ofTrustees received|
|---|---|
||Investment|
||properties|
||5|
|Cost or valuation||
|At 1 September 2020|6,646,867|
|Additions|691,663|
|At 31August
2021|7,338,530|
|Impairment||
|At 1 September 2020 and 31August 2021||
|Carrying
amount||
|At 31August 2021|7,338,530|
|At 31August 2020|6,646,657|
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||||||2021|2020|
|---|---|---|---|---|---|---|
||Trade|debtors|||1,979||
||Prepayments||and accrued income||16,624|18,546|
||Other|debtors|||388|726|
||||||18,991|19,272|
|16.|Cash|at bank|and in|hand|||
||||||31Aug 21|31 Aug 20|
|||||||F|
||Bank|deposit|accounts||8,033,853|7,796,259|
||Bank|current account|||1,215,148|214,946|
||Cash|in hand|||166|166|
||Total||||9,249,167|8,011,371|
|17.|Credltom: amounts|||falling due within one year|||
||||||2021|2020|
||Trade|creditors|||408,940|14,296|
||Accruals and deferred|||income|65,967|31,648|
||Social|security|and other taxes||3,305|4,104|
||Other|creditors|||14,001|5,512|
||||||492,213|55,550|
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|||||2021|2020|
|---|---|---|---|---|---|
|||||E|f|
|As at 1st July 2020|||||61,709|
|Amount|released|to incoming|resources||(61,709)|
|Amount|deferred|in the year||2,010||
|As at 31stAugust||2021||2,010||
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|The amounts|recognised
in the financi|al statements
for governme|nt
grants are as follo|ws:|
|---|---|---|---|---|
||||2021|2020
f|
|Recognised|in income from donations|and legacies:|||
|Government|grants income||3,229|43,899|
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|Unrestricted|funds|||||
|---|---|---|---|---|---|
|||At||||
|||1 September|||At|
|||2020
f|Income
f|Expenditure
f|31August 2021
E|
|General funds||14,587,264|2,771,885|(1,279,360)|16,079,789|
|Revaluation|reserve|34,686|||34,686|
|||14,621,950|2,771,885|(1,279,360)|16,114,475|
|||At|||At|
|||1 July 2019
f|Income|Expenditure|31August2020
f|
|General funds||13,175,267|2,472,589|(1,060,592)|14,587,284|
|Revaluation|reserve|34,886|||34,888|
|||13,209,953|2,472,589|(1,060,592)|14,621,950|
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|21.|Analysis ofnet a|sse|ts between funds||||
|---|---|---|---|---|---|---|
||||||Unrestricted|Total Funds|
||||||Funds
f|2021
8|
||Investments||||7,338,530|7,338,530|
||Current assets||||9,268,158|9,268,158|
||Creditors less than|1|year||(492,213)|(492,213)|
||Net assets||||16,114,475|16,114,475|
||||||Unrestricted|Total Funds|
||||||Funds|2020|
||||||E|E|
||Investments||||6,646,867|6,646,867|
||Current assets||||8,030,642|8,030,642|
||Creditors less than|1|year||(55,559)|(55,559)|
||Net assets||||14,621,950|14,621,950|
|22.|Analysis ofchanges||in net debt||||
|||||At||At|
|||||1 Sep 2020|Cash flows|31Aug 2021|
||||||E|6|
||Cash at bank and|in|hand|8,011,371|1,237,796|9,249,167|
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