COMPANY REGISTRATION NUMBER: 02530127
CHARITY REGISTRATION NUMBER: 1000219
Bagri Foundation
Company Limited by Guarantee
Financial Statements
31 August 2024
FERGUSON MAIDMENT & CO.
Chartered accountants & statutory auditor
167 Fleet Street
London
EC4A 2EA

Bagri Foundation
Company Limited by Guarantee
Flnancial Ststemonts
Year anded 31 August 2024
Pages
Trustees, annual report (incorporating the directorfs report)
Trustees, responsibilities statement
1to4
Independent auditOT'S report to the members
statement of financial activities (including income and
expenditure account)
Statement of financial position
6t09
10
11
Statement of cash flows
12
Notes to the financial statements
13to20

Bagri Foundation
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report)
Year ended 31 August 2024
The trustees, who are also the directors for the purposes of company law, present their report and the
financial statements of the charity for the year ended 31 August 2024.
Reference and admlnlstratlve detalls
Reglstered charlty name
Bagri Foundation
Charlty reglstratlon number
1000219
Company reglstration number 02530127
Prlncipal offlce and regist8rod 25-27 Lorne Close
offlce
London
NW8 7JJ
United Kingdom
The trusts•s
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
167 Fleet street
London
EC4A 284

Bagri Foundation
Company Limited by Guarantee
Trustees. Annual Report Ilncorporating the Dlrector's Report> (conlinuedj
Year ended 31 August 2024
structure, governance and management
a). Constitution
The Foundation is registered as a charitable company limited by guarantee and was Set up by
Memorandum and Articles of Association dated 13 August 1990.
b). Appointment of Trustees
The power of appointing new and additional trustees rests with the existing trustees.
c). Policies adopted for the induction and training trusteeG
Every Trustee is provided with relevant Charity Commission18afiets and literature. There is no fomial
induction process but a prospective truste8 will be invited to attend a trustees meeting to discuss the
nature of the Foundation and the responsibilities of Trust8e8.
d). Organisational ytructure and decision maklng
The Trustees meet regularly to manage the affairs of the Foundation, Tha day to day management is
delegated to the Secretary,
e). Risk Management
The Trustees have assessed the major risks to which the Foundation is exposed and are satisfied that
Systems are in place to mitigate exposure to major risks.
Objectlves and actlvitles
In accordance with the Company's objects as set out in the Memorandum of Associatlon dated 13th
August 1990 the company is established to promote charitable purposes and to assist Charitable
Institutions at the discretion of the trustees.
Stratsgic report
The following sections for achievements and performance. financial review and plans for future periods
fom the strategic report of the charity.

Bagri Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (¢onllnu8d)
Year ended 31 August 2024
Achievements and performance
The policy is generally to make contributions to charitable causes from income and to retain the corpus
for financing one or more major projects. The Foundation has continued wilh its commitment to
contribute to educational institut8s both in the UK and the Indian sub-continent. The arts and cultural
activities and programmes were expanded through partnerships with various organisations as well as
by promokn'ng and hosting cultural events directty. Donations to medical institutes and other
organisations continued to be made towards the advancement of health.
Publlc Benefit
As required by the Charity Commission, the Trustees have had due regard for the requirement that the
Charity's aims should be for the public benefit as set out in the objectives and activities.
Financlal review
The Foundation had incoming resources of £1,134,173) (2023: (£968,565)) with resources expended of
£1,567,207 {2023.. £2,151,896>. The deficit of £433,034 (2023.. £1,183,331)) was taken to the
Accumulated Fund.
It is intended to continue making ¢harltable contributions to individuals and institutions In accordance
with the aims and objectives of the Foundation. As part ofthe Foundations strategic review during 2014,
it acquired in October 2014 a property in Reading, Berkshire providing student accommodation for
Reading Universty and local colleges.
The objective of this acquisition was solely to enhance yields that have suffered from very low interest
rates available on bank deposits over recent years. The current yield from the student accommodation
property has been around 60/0 compared to interest rates at less than 40k p.a. on bank deposits.
An adjacent Commercial property was acquired in April 2015 with the intention of expanding the student
accommodation furthér In due course, subject to obtaining the necessary planning ¢onsents.
Reserves and r•$•rves pollcy
ReseNes are funds freely available for use by the Foundation. The trustees have retained In reserves
past accumulated net surpluses in order to continue making charitable donations and financing of the
projects undertaken by the Foundation. For investment purposes surplus funds are held on deposit
accounts at banks to ensure ready access. As at 31 August 2024 total funds were £13.9m (2023:
£14.3m).

Bagri Foundation
Company Limited by Guarantee
Trusteas. Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2024
Auditor
Each of the persons who is a trustee at the date of approval of this report confirms that..
so far as they are aware. there is no relevant audit information of which the charty's auditor is
unaware,. and
they have taken all steps that they ought to have taken as a trustee to make themselves aware of
any relevant audit information and to establish that the charty's auditor is aware of that information.
The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act
2006.
The trustees, annual report and the strategic report were approved on 12 May 2025 and signed on
beh81f of the board of trustees by.,
asvinder Singh Kalsi
Charity Secrelary

Bagri Foundation
Company Limited by Guarantee
Trustees. Responsibilities Ststement
Year èndad 31 August 2024
The trustees, who are also directors for th8 purposes of company law, are responsible for preparing the
trustees, report and the financial ststements in accordance with applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a
true and fair view of the state of affairs of the charitable company and the incoming resources and
application of resources, including the income and expenditure, for that period.
In preparing these financlal statements, the trustees are required to..
select suitsble ac¢ountlng policie$ and then apply them consistently.,
observe the methods and principles in the appllcable Charities SORP.,
make judgments and accountlng estimates that are reasonable and prudent,.
state whether applicable UK Accounting Standards have been followed, Subject to any material
departures disclosed and explained in the financi81 statement8',
prepare the financial statements on the going concern basis unless It is inappropriate to presume
that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and
explain the charity's transactions and discb8e with reasonable accuracy at any time the financial
position of the charity and enable them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of th8 charity and hence
for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Bagri Foundation
Company Limited by Guarantee
Independent Auditor's Report to the Members of Bagrl Foundation
Year ended 31 August 2024
Opinion
We have audited th8 financial statements of Bagri Foundation (the 'charity') for the year ended
31 August 2024 which comprise the statement of financial activities (including income and expenditure
account), statement of financial position, statement of cash flows and the related notes, including a
summary of significant accounting policies. The financi81 reporting framework that has been applied in
their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The
Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally
Accepted Accounting Practice).
In our opinion the financial statements..
give a true and falr view of the state of the charity's affairs as at 31 August 2024 and of its Incoming
resources and application of resources, Including its incom• and expenditure, for the year then
ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice.,
have bean prepared in accordance with the requirements of the Companies Act 2006.
Basls for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) IISAS {UK)) and
applicable law. Our responsibilities under those standards are further described in the auditorfs
responsibilities for the audit of the financial statements section of our report. We are independent of the
charity in accordance with the ethical requirements that are relevant to our audit of the financial
statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a ba8is for our opinion.
Concluslons relatlng to golng concern
In auditing the financial statements, we have concluded thatthe trustees, use ofthe going concern basi8
of accounting in the preparatlon of the financial statements 18 appropriate.
Based on the work we have perfomed, we have not identifi'ed any material uncertaintles relating to
events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to
continue as a going concern for a period of at least twelve months from when the financial statements
are authori5ed for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described
in the relevant sections of this report.

Bagri Foundation
Company Limited by Guarantee
Independent Auditor's Report to the Members of Bagri Foundation {contlnu8d)
Year ended 31 August 2024
Other information
The other information comprises the information included in the annual report, other than the financial
statements and our auditorfs report thereon. The trustees are responsible forthe other information. Our
opinion on the financial statements does not cover the other information and, except to the extent
otherwise explicitly stated in our report, we do not express any fom of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other infomiation
and. in doing so, consider whether the other information is materially inconsistent with the financial
statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If
w• identify such material inconsistencies or apparent material misstatements, we are required to
detennine whether there is a material misstatement in the financial statements or a material
misstatement of the other information. If, based on the work we have performed, we conclude thatthere
1$ a material misstalement of thls other information, we are required to report that fact.
We have nothing to report in this regard.
Oplnions on othor matters prescrlbed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the trustees, report for the financial year for which the financial statements
are prepared is consistent with the financial statements,. and
the trustees, r8POrt has been prepared in accordance with applicable legal requirements.
Matters on which we are requlred to report by exceptlon
In the light of the knowledge and understanding of the charity and its environment obtained in the course
of the audit, we have not identified material misslatements in the trustees, report.
We have nothing to report In respect of the following matters in relation lo which the Companies Act
2006 requires us to report to you if, in our opinion..
adequate accounting records have not been kept, or retums adequate for our audit have not been
received from branches not visited by us., or
the financial statements ar• not in agreem•nt with the accounting records and returns. or
certain disclosures of trustees, remuneration specified by law are not made., or
we have not recelved all the information and explanatlon$ we require ft)r our audlt.

Bagri Foundation
Company Limited by Guarantee
Independent Auditor's Report to the Members of Bagri Foundation (contlnued)
Year ended 31 August 2024
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement, the trustees (who are also the
director5 for the purposes of company law) are responsible for the preparation of the financial statements
and for being satisfied that they give a true and fair view, and for such internal control as the trustees
determine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's abilty to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concem basis of accounting unless the trustees either intend to liquidate the charity or to cease
operations, or have no realistic alternative but to do so.
Audftorfs responsibllltles for the audlt of the financlal statements
Our objectives are to obtain reasonable a88uranc• about whether the flnancial statements as a whole
are fr88 from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an
audit conducted in accordance with ISAS (UK) will a￿ayS detect a material misslatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users taken on
the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatemants in respect
of irregularities, including fraud. The extent to which our procedures are capable of detecting
irregularities, including fraud is detailed b810w-
Enquiry of management and those charged with governance around actual and potential litigation and
claims.,
Enquiry of Charity staff to identify any instances of noncompliance with laws and regulations;
Performing audit work over the risk of management override of controls, including testing of journal
entries and other adjustments for appropriateness, evalualing the business rationale of significant
transactions outside the normal course of business and reviewing accounting estimates for bias; and
Reviewing financial statement disclosures and testing to supporting documentation to assess
compliance with applicable laws and regulations.
Because of the inherent limitations of an audit, there is a risk thal we will not detect all irregularities,
including those leading to a material misstatement in the financial statements or non-compliance with
regulation. This risk increases the more that compliance with a law or regulation is removed from the
events and transactions refiected in the financial statements, as we will be less likely to become aware
of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud
rather than error, as fraud involves intentional concealment, forgery, collusion, omission or
misrepresentation.

Bagri Foundation
Company Limited by Guarantee
Independent Auditorfs Report to the Members of Bagri Foundation (contlnued)
Year ended 31 August 2024
A further description of our responsibilities for the audit of the financial statement5 15 located on the
Financial Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description forms
P8rt of our auditor's report.
Use of our report
This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16
of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's
members those matters we are required to state lo them in an auditovs report and for no other purpose.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
the charity and the charity's members as a body, for our audit worf(, for this report, Dr for the opinions
we have fomi8d.
Vlvek Kapoor {Senior Statutory Auditor)
For and on behalf of
Ferguson Maidment & Co.
Chartered accountants & statutory auditor
167 Fleet Street
London
EC4A 2EA
12 May 2025

Bagri Foundation
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 August 2024
2024
Unrestricted
funds Total funds Total funds
2023
Nots
Income and endowments
Investment income
1,134.173
1,134,173
1,134,173
968,585
Total income
1,134,173
968,565
Expendfture
Expenditure on raising funds..
Costs of generating income
Expenditure on charitable activities
Total exp8ndlturo
355,966
6.7 1,211,241
1,567,207
366,966
1,211,241
287,515
1,864,381
2.151,896
1,567,207
N•t 0x￿ndIture and net mov•ment In fund$
(433,034) (433,0341 (1,183,331)
Reconclllation of funds
Total funds brought forward
Total funds carried fO￿ard
14,310,615 14.310,616 15,493,946
13,877,581 13,877,581 14,310,615
The statement of financial activities includes 811 gain8 and losses recognised in the year.
All income and exp8nditure derive from continuing activities.
The notos on pages 13 to 20 forni part of these finan¢lal slatemonts.
10

Bagri Foundation
Company Limited by Guarantee
ststement of Flnancial Position
31 August 2024
2024
2023
Fixed assets
Investments
13
7,917,980
7,872,025
Current assets
Debtors
Cash at bank and in hand
14
33,912
6,027,306
6,061,218
22,195
6,521,320
6,543,515
Credltors: amounts falllng due wlthin one year
Net current assets
15
101,617
104,925
5,959,601
6,438,590
13,877,581 14,310,615
13.877.581 14,310,615
Totsl assets lass current Ilablliti88
Net assets
Funds of the charlty
Unrestricted funds:
Revaluation reserve
Other unrestricted income funds
34,686
14,275.929
13,877,581
Total unrestrlcted funds
13,877,581 14,310,615
13,877,581 14,310,615
Total charity funds
17
These financial statements were approved by the board of trustees and authorised for issue on 12 May
2025, and are signed on behalf of the board by..
The Hon Mrs. A Bagri
Trustee
Ms Amisha Bagri
Trustee
The notas on pages 13 to 20 form part of these flnanclal statsmfrnts.
11

Bagri Foundation
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 August 2024
2024
2023
Cash flows from operatlng activitles
Net expenditure
(433,034) (1,183,331)
Adjustments for
Dividends, interest and rents from investments
Other interest receivable and similar income
Accrued expenses
11,071,382) {963,697)
162,791)
{4,868)
1.193
18,858
Changes in..
Trade and other debtors
Trade and other creditors
14,107)
8,914
(4,501)
(21,178)
(1,574,622) (2,145,302)
Cash generated from operations
Interest rtteived
56,181
8,032
{1,519,441) (2,139,270)
Net cash used in operating activitie$
Cash flows from Investing actlvltles
Dividends, interest and rents from investments
Purchases of other investments
1,071,382
(45,955)
1,025,427
983,697
Net cash from investing activities
963,697
Net decrease in cash and cash equlvalents
Cash and cash equlvalents at beglnnlng of year
Cash and cash oqulvalents at end of year
1494,014) (1,175,573)
6,621,320
7,696,893
6,027,306
6,521,320
Th• nots$ on pages 13 to 20 form part of these Ilnancial stalèmonts.
12

Bagri Foundation
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2024
General information
The charity is a public benefrt entty and a private company limited by guarantee, registered in
England and Wales and a registered charity in England and Wales. The address of the registered
office is 25-27 Lorne Close, London, NW8 7JJ. United Kingdom.
Statèment of complianc•
These financial slatements have been pr•par•d in compliance with FRS 102, Th• Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of
Recommended Practice applicablè to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities
SORP (FRS 10211 and the Companies Act 2006.
Accountlng pollcles
Basls of Pfeparatlon
The financial statements have been prepared on the historical cost basis, a8 modified by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Golng concern
Given the Foundation's significant reserves, the Trustees do not ¢onsid8r that any material
uncertainty exists about its future prospects and have therefore continued to prepare the accounts
on a going concern basis.
Judgements and key sources of estlmatlon uncertainty
The preparation of the financial staternents requires management to make judgements, estimates
and assumptions that affect the amounts reported. Th8se estimates and judgements are
continually reviewed and are based on experience and other factors, including expectations of
future events that are believed to be reasonable under the circumstances.
Forelgn curr•ncl•s
Foreign currency transactions are initially recorded in the functional currency, by applying the spot
exchange rate as at the date of the transaction. Monetary assets and liabilitie5 denominated in
foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains
or losses being taken to the statement of financial activities.
Fund accountlng
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the
objectives of the Foundation.
13

Bagri Foundation
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2024
Accountlng policios (¢ontlnu•d)
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the
charity, it is probable that the economic benefrts associated with the transaction will flow to the
charity and the amount can be reliably measured. The following specific policies are applied to
particular categories of income:
rental income is recognised in the period on an accruals basis.
interest on funds held on d8POSit is included when receivable and the amount can be measured
reliably by the charity., this is normally upon notification of the interest paid or payable by the bank.
Resour¢os expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings of the statement of financial
activities to which it relates..
Property costs Include expenditure on the malntenance and running costs relating to the
Investment properties.
Support costs include general administration and management.
Gov8mance costs include compliance with constitutional and statutory requirements.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct COSts
attributable to a single activity are allocated diredly to that activity. Shared costs are apportioned
belmeen the activit188 they contribute to on a reasonable, lustifiable and consistent basis.
Inv•strnents
Unlisted equlty investments are initlally recorded at cost, and subsoquently measured at fairvalue.
If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in
income or expenditure.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly
attributable expenditure. Investment property is revalued to its fair value at each reporting date and
any Changes in fair value are recognised in profrt or loss.
If a reliable measure of fair value is no longer not available without undue cost or effort for an item
of investment property, it shall be transferred to tangible assets and treated as such until it is
expected that fair value will be reliably measurable on an On￿oing basis.
14

Bagri Foundation
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2024
Accountlng policles (¢ontlnu•d)
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at e8ch reporting date.
Flnanclal Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including
any related transaction costs, unless the arrangement constitutes a financing transaction, where it
is recognised at the present value of the future payments discounted at a market rate of interest
for a Similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration
expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence
of impairment at the end of each reporting date. If there is objective evidence of impairment, an
Impairment loss is recognised under the appropriate heading in the statement of financial activitie5
In which the initial gain was recognised.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not
result in a carrying amount of the financial asset that exceeds what the carryin9 amount would
have been had the impairment not previously been recognisad,
Defin•d contrlbutlon plans
Contributions to defined contribution plan5 are recognised as an expense in the period in which
the related service is provided. Prepaid contribLrtions are recognised as an asset to the extent that
the prepayment will lead to a reduction in future payments or a Gash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the
reporting date in which the employees render the related seNice, the liability is measured on a
discounted present value basis. The unwinding of the discount is recognised as an expense in the
period in which it arises.
Llmlted by guarantee
The company is constituted as a company limited by guarantee. In the event of the charity being
wound up members are required to contribute an amount not exceeding £1.
15

Bagri Foundation
Company Limited by Guarante8
Notes to the Financial Statements (continued)
Year ended 31 August 2024
Investment income
Unrestricted Totsl Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Income from UK investment properties
Gainsl (losses) from investments
Bank interest receivable
630,235
441,147
62,791
1,134,173
630,235
441,147
62,791
1.134,173
597,168
366,529
4,868
597,168
366,529
4,868
968,565
988,565
Expendlture on charltable activltles by fund type
Unr8Stricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Charitable grants awarded
Support costs
896,760
314,481
896,760
314,481
1,211,241
1,275,346
589,035
1,275,346
589,035
1,211,241
1,864,381
1,864,381
Expenditure on charltable actlvltles by actlvity type
Grant funding
of activities
Support Total funds
costs
2024
Total fund
2023
Charitable grants awarded
Governance costs
896,760
306,152
8,329
1,202,912
8,329
1,211,241
1,856,521
7,860
896,760
314,481
1,864,381
Analy81s of support costs
Analysis of
support costs Total 2024 Total 2023
Staff costs
Communications and IT
General office
Governance costs
Advertising and marketing
{Gain)l Loss on foreign exchange
94,234
4,545
40,693
8,330
45,650
121,029
314,481
94,234
4,545
40,693
8,330
45,650
121,029
314,481
85,725
3,502
23.005
7,860
37,606
431,337
589,035
16

Bagri Foundation
Company Limited by Guarantee
Notes to the Financial Ststements (¢ontlnuad)
Year ended 31 August 2024
Analysis of grants
2024
2023
Grants to Institutlons
Culture
Education
Health
318,350
573,860
4,550
896,760
698,236
564,860
12,250
1,275,346
1,275.346
Total grants
896.760
10. Auditors remuneratlon
2024
2023
Fèes payable for the audit of th& Ilnancial statements
7,000
6,650
11. Staff costs
The total staff costs and employee benefits for the reportlng period are analysed as follows:
2024
2023
Wages and salaries
Social security costs
Employer contributions to pension plans
other employee benefits
161,999
11,707
3,621
238
159,403
11,320
3,744
177,565
174,651
The average head count of employees during the year was S (2023.. 5). The averag• number of
full-time equivalent empl¢y•es durlng the year 18 analysed as foll¢￿S.
2024
2023
Number of administrative staff
No employee received employee benefits of more than £60,000 during the year (2023.. Nil).
12. Trustee remunoration and exponsos
During the year, no remuneration or other benefts from employment with the charity or a related
entity were received by the trustees (2023: £Nil). No members of the Board of Trustees re￿iVed
reimbursement of expenses (2023: £Nil).
17

Bagri Foundation
Company Llmlted by Guarantee
Notes to the Financial Statements (continu8d)
Year ended 31 August 2024
13. Investments
Investment
propertles
Cost or valuation
At 1 September 2023
Additions
7,872,026
45,955
At 31 August 2024
Impalrm8nt
At 1 September 2023 and 31 August 2024
Carrying amount
At 31 August 2024
At 31 August 2023
7,917,980
7,917,980
7,872,025
All Inv•stment8 shown above are held at valuation.
Investment propertie$
The investment properties are valued on an open market basis as at 31 August 2024 by the
directors. The properties were valued using the rentavyield method.
The key assumptions made in the valuation of properties are the future net rental income stream
and an appropriate yield. There was no external independent valuation carried out for the
properties.
Accordingly, in the directors, opinion, the carrying values of the properties as at 31 August 2024
are not significantly different from the open market fair value of those properties as of that date.
14. Debtors
2024
2023
Trade debtors
Prepayments and accrued income
Other debtors
143
30,040
3,729
33,912
307
19,203
2,685
22,195
16. Credltors: amounts falllng due withln one year
2024
2023
Trade creditors
Accruals and deferred income
Social security and other taxes
9,901
86,462
5,254
18,073
85,269
1,583
101.617
11M.925
18

Bagri Foundation
Company Limited by Guarantee
Notes to the Financial Statsments (¢ontlnuodJ
Year ended 31 August 2024
16. Crèditors: amounts falling due wlthln one year (conllnu•d)
Deferred Income
2024
2023
As at 1st September 2023
Amount released to incoming resources
Amount deferred in the year
As at 31st August 2024
2,490
(2,490)
2.370
2,160
(2.180)
2,490
2,370
2,490
Deferred income relates to rental income attributable to future accounting period8,
16. Penslons and other post retlrement benefits
D•flned contribution plans
The amount rocognised in incom* or expenditure as an expense in relatlon to defined contribLrtion
plans was £3,621 (2023.. £3,744).
17. Analysis of charitable funds
Unrestrlcted funds
At
1 September
2023
At
Income Expenditure Transfers 31 August 2024
General fund8
Revaluation reseNe
14,275,929
34,686
1,134,173 (1,567,207)
34,686
{34,686)
13,877,581
14,310,615
1,134,173 (1,567,207)
13,877,581
At
1 September
2022
At
Income Expenditure Transfers 31 August 2023
General funds
Revaluation resenle
15,459,260
34,686
968,565 (2,151,896)
14,275,929
34,686
15,493,946
968,565 {2,151,896)
14,310.615
19

Bagri Foundation
Company Limited by Guarantse
Notes to the Financial Statements (continued)
Year ended 31 August 2024
18. Analysls of net assets between funds
Unrestricted Total Funds
Funds
2024
Investments
Current assets
Creditors less than 1 year
Net a8s•ts
7,917,980
7,917,980
6,061,218
6.061.218
(101,617) 1101.617)
13,877,581 13,877,581
Unrestricted Total Funds
Funds
2023
Investments
Current a55et5
Creditor5 less than 1 year
Not assets
7,872,025
7,872,025
6,543,516
6,543,516
{104,926} {104,926)
14,310,615 14,310,615
19. Analysis of changes in net debt
At
At
1 Sep 2023 Cash flovpd 31 Aug 2024
Cash at bank and in hand
6,521,320
{494,014) 6,027.306
20. Related party transactlons
During the year there were no material related party transactions (2023: £Nil).
20