COMPANY REGISTRATION NUMBER.. 02530127 CHARITY REGISTrATION NUMBER: 1000219 Bagri Foundation Company Limited by Guarantee Financial Statements 31 August 2025 FERGUSON MAIDMENT & CO. Chartered accountants & statutory auditor 187 Fleet Street London EC4A 2EA
Bagri Foundation Company Limlted by Guarantse Flnanclal Statements Year •nded 31 August 2025 Pag Trustees, annual report (incorporating the directorfs report) 1to4 Trustees, responslbilities statement Independent auditovs report to the members Statement of financial activities (including income and expendtture account) ststement of financial position 6t09 10 11 Statement of cash flows 12 Notes to the financial statements 13to20
Bagri Foundatlon Company Llmltsd by Guarantee Trustees. Annual Report (Incorporatlng the Directorfs Report) Year ended 31 August 2026 Thg trusteès. who are al80 the directors for the purpose8 of companylgw. present their report and the financial 8tatements of the charity for the year ended 31 August 2025. Rgf•renco and admlnlstratlve detalls R•gl•tered charlty namo Bagrf Foundation Charlty r•gl$tMtlon numb•r 1000219 Company r•ghtratlon number 02530127 Prlnclp•l ofNce •nd roghter•d 25-27 Lorng C1088 offlc• London NW8 7JJ Unlted Kingdom Th• tru•ttt• The Hon. MrA B89rf The Lady Bagri Thè Hon Mrs. A Ba9rl Ms Amisha Bagri Mrs Adili Malhotra Company 8•cretary Mr J•8vlnder Slngh Kal81 Audltor Ferguion M•ldm•nt & Co. Chartered account8nts & 8tatLrtory audllor 167 Fleet street London EC4A 2EA
Bagri Foundation Company Llmitod by Guarantee Trustees. Annual Report {Incorporatlng the Dlrectorfs Report) (eonlthu•LIJ Year endod 31 August 2026 Stru¢turop governance and managom•nt al. Constltulion The Foundation 1$ mgislered as a charitable company Ilmlled by guarantee and was $•t up by Memorandum and Article8 of Association dated 13 August 1990. b). Appolntment of Trustees Tho power of appolnting new and addltlon81 tru8tee8 rosl8 with the existing trusl¢•s. cl. Polk8 adcpted for the Indudlon ond trainlng Iru8tO08 Evory Truslo8 Is Provided wrth relevant Charity Commission leafflels artd Illerature. There is no formal induction process bul a prospeelw8 Iru8tge will b• Invited lo attgnd a Iruslees meeting to discuss tho nature of the Foundallon and tha r88ponslbilitl•$ of Trustees. d}. Organi$8tlonal 8lructur& and decision making The Trustees meel regularly to manage the aff$irs ol the Foundatlon. The day lo day management IJ del¢g8l•d lo the SecTelary. e). Rl8k Management Thè Trustee8 have as$es8ed the major risks to whlch the Found•lk*n16 exposod and are satisfied that 8y81gmB are In place to mltigalg exposure to major ri6k8. ObJectlv•s and •¢llvltl•• In accordance with th• Company'g objects as stst out In the Memorandum of Ass¢xlallon dated 13th August 1990 the company i¥ established to promote Gharilabh purpos88 and lo assist Charitable Institutions 01 the di8cretlon of the trustees. Stratsglc f•POrt The followlng 66cllons for achi•v•ment8 and p?rfomian¢e, financi81 review and plgn8 for future periodB fomi the strategic report of the charity.
Bagri Foundation Company Llmlted by Guarantse Trustees. Annual Report (Incorporatlng the Directors Report) fconlinuedj Y•ar ended 31 August 2025 Achlevoments and Perfoan¢• The policy is generally to make contrfbutlon8 to chafitabb causes from inccffle and to retain thè corpus for financing one or more major projeds. The Foundion has continued with its commitment to onlrSbute to educational inBtilule6 both in the UK and tho Indian sub-conlinenl. The arts and cuhural activille$ and programmes wgre expanded through partnerships with various organisatlon8 as well as by promoting and hosling cultural events direct. Donatn9 to m¢dical institutes and other organisations conllnued to be made towards the advancement of health. Publlc Bonèflt A8 required by tho Charfty Commls8iorb, the Tru8tees have had due regard for the requiTem?nl th•t the Charlty's alms should be for the public benefit as Sel out in the objectives and activitles. Flnanclal revl•w The Foundation had Incomlng re8ource$ of £1.094,58712024.'1£1,134,17311 wlth resources exp¢ndad 01 £1,124,511 12024.. £1.567,2071. The deflcf( of £29,924 12024.. £433.0341 was taken to thè A¢¢umulated Fund. 11 is intended lo continue making charitable conlrlbutions lo Indfviduols and institution8 in accordance with the alms and objective8 of the Foundation. As part of th8 Foundations strategic reviow during 2014, rt èequired In October 2014 a property in R¢8ding, BeTkshlr• provlding student accommodallon for R•ading Unlver8ily and local colloges. The objedlve irf th18 acqu18ition wa8 solely lo enhance ylelds that hav• 8uffered from very low Interest rale8 available on bank deposits over Tg¢enl years. The curTenl yield from th• student accommodation propety h88 been around 6'h compared lo interest rates at b$s than 4% p.a. on bank dop081t6. An adjacent commercial property wa8 acquired in April 2015 with the inlanllon of expanding the 81ud•nl accorrnodation furth8r in due course, Bubjèct to obtaining the noce88ary plannlng con60nts. R•y•r¥es and poll¢y Reserves are funds free availablo for use by the Found811on. The Iru$te8s have retain in reserves past accumulated nel surplu8e8 in order to continue making charitable donations and financing of the projects underlaken by the Foundation. For investment purposes surplus funds are held on deposlt oc¢ount6 al bank$ to ensure ready access. As at 31 Augu¥t 2025 total fund8 were £13.9m 12024.. £13.9ml.
Bagrl Foundation Company Llmltsd by Guarantea Trusts•s' Annual Report (Ineorporatlng the Dlrectorfs Report) (¢onlinu•rfJ Year onded 31 August 2025 Audllor Et£h of the persons who 1$ o tru81eo at the date of approval of this report confimis that.. 80 far as thoy aro aware, theig is no relevant audit information of which the Gharty'8 auditor is unaware,. and they have tsken all $16P$ that they ought to havo lakgn as a trustee to make them50fv8s aware of any mlévant audr( information and to e8tablish that the chaW8 auditor 16 aware ofthat Infomiatlon. The audllor is doeffd lo have been re-appointed In accordjnce with $•ction 487 of the Compan168 Act 2008. The Iru8lee$' annual report and the $lratsgic report were apprOd on 24kn Aprfl 2028 8nd 8igned on behall of the board of Iru$tee$ by.. Jasvinder Slngh Kal81 Charity sretary
Bagri Foundatlon Company Limited by Guarantee Trustees, Responsibilities Ststement Year ended 31 August 2025 The trustees, wlK> aro a150 diroclofs for the purposes of company law, are re8pon8ible for preparing the trustees, report and the financial slalements in accordance wkh applicable law and United King<k)m Accounting Standards Iunrted Kingdom Generalty Accapted AG¢ounting Pfadicel. Company law rgquire8 the charity trusteès to preparé fin8ncSal Statements for each year which gNe a true and fair view of the slate of affairs of the charitable company and thè Incoming resources and application of re8ourc65, induding the income and expendrture. for that period. In preparing th88e finandal stat•ment$. the tru81ees are r6quSred lo: Select $ultable accounting pollcies and then appty them con8i$t8ntty,' obg?rve the methods and princlple8 in tho appllcabl• Chanti•3 SORP., make judgments and accounting e81imale¥ that are reasonabb and pNdent'. state whether applicobie UK Accounting Standards have been follod, 5ublKI to any mal8ri81 departurfts disclosed and explained in the financlal slatemnl8'. prepare th8 flnanckql slatem•nl8 on the golng concern basls unless it15 Inappropr181e lo prosume that the charlty will conllnue In bu8ino88. The Iru$loas are responslbl8 for keeplng adequato accountSng re¢ords that aro sufficlenl lo show and explain tha charity's Iran8actionB and d18clo8e with reasonablg accuracy at 8ny lime the financl81 poslllon of the charity and enablg them lo ensure that the financial 81alements comply wrth the Companies Act 2006. They arè al80 rgspontsible for safèguarding the assets of the charity ond hence for taking roasonable st•ps for the prevention and delectlon of fraud and oth&r Irreoularitios.
Bagri Foundation Company Llmited by Guarantse Independent Audltorfs Report to the Members of Bagrl Foundatlon Year ended 31 August 2025 Oplnion We have audlled the financial 6tements of Bagri Foundation {the 'charty'l for the year ended 31 August 2025 whiGh comprise the $ta19rnenl of financial activrties lincluding Income and expenditure account). slal8menl of financial position, slalèmenl of cash flows and the related notes. including a summary ol significant accounting pOIleS. The financial reporting framework that ha¥ been applied in their preparation Is applicable law and Unrted Kingdom Accounting Standards, including FRS 102 The Financial Reportlng Standard applicable In the UK and Republic of Iroland (United Kingdom G6nerally Accepted Accounting Prarti¢e). In our oplnion the financial stalgments.. glve a true and fair view of the Stale ofthe ch8rlty's affairs a5 at 31 Augu8t 2025 and of It8 incoming rgsour¢o$ and 8ppllcatwJn of resources, including income 8nd expendlture, for the year then ended., have been property prepared in 8¢cordance wlth Unrted Kingdom G¢n¢rally Accepted AccountSng Practice., have been proparnd in accordanu with the r•qulTement8 of the Componle8 Act 2006. Ba1• for oplnlon W8 conducted our 8LKlit in accordanc• with Inlernallonal Slandard8 on Audttlng IUKIIISAS IUKII and applicable law. Our re$ponslbililie8 under those standard¥ 8re further described in the auditorfs Tespon81biif(ie8 for the audit of the financial 51alemenl8 section of our report. We are independent of the charity In accordance with the elhlrAI requiremonls that are relevant lo our au¢Jil Of the financlal statemanl$ in the LIK, including the FRC'S Ethical Standard, and w6 have fulfSlled our olh8r ethical responsibilitie$ in accordance with thesé requirement$. We believe that Ihe judlt evidenGo we have obtained is sufficient and approprlale to provide a b88is for our oplnion. Con¢luslons r•l•tlng to golng concern In auditlng th• finanGial 8tatements, we have concluded that the trustees, use ofth• going COnM b•81$ ol accounting in the preparation of the financial $18lemonls 18 8pproprfate. Ba$•d on the woth we have pgrfomiod, we have not Id8nlWied any mal•rfal uncertaintl•8 rel8ting to events or conditions that, indfvidually or coll8ctivety, may ¢asl significant doubt on the charity's abiltty lo continue as a going concérn for a peri¢)d of al least tsv8fv• months from when the flnancial statsm8nt8 are aulhorised for issue. Our responsibilities and the responsibilit1•8 of the Iru¥tee5 Wlth respect to going concem ar• de8crib8d in the relevant $gdion¥ of this report.
Bagri Foundation Company Llmlted by Guarantse Ind•pondent Auditor's Report to the Members of Bagri Foundation (Conlinued) Y•ar ended 31 August 2025 Othor Informatlon The other infomiatlon comprises the infomation included in the annual report, other than the financlal statements 8nd our audrtof s report Ihereon. The trustees are rèsponsible for the other information. Our opinion on the financial slalements does not cover the otheT information and, except to the extent otherwise explicilty slated in our report, we do not express 8ny form of as$uranc6 conclusion thereon. In connection with our audit of the financial slatements, our responsibilty 18 to Tead the olhor infomiallon and, in doing so, consider whether the other information is malerialty inconsislenl with the financial slalem8nl8 or our knowledge obtained in the oudrt or otherwise appear8 to bé materially misstated. If we identify such mal8rial inconsSslenclés or apparent material misslalemenls, we aro required to detemiine whethèr there is a malerlal misslalemgnl in the financial slalemenls or a material mlsslalement ofthe othar infomalion.11, basad on the work w8 have p8rfomied, we conclude that Ihero 18 a material mbs8latement of thi$ other infomiation, we aro required to report that fact. Wo have nothing to report In this regard. Oplnlon• on Oth mattern plerIbed by th• Companlos Act 2006 In our opinion. based on the work undertaken in the course of the audA'. th• Infomiation glven in tho truslee8' report for tho ffinanclal year ftr whl¢h the financlal 8lalemen18 are prepamd is conslslenl with the flnancial 81alemenls'. and tho Irusleè8' report ha$ bogn prepared in accordonce with applicablo légal r8quirem•nls. M•tt•rn on whlch w• arn r•qulrèd to report by •xc•ptlon In tha light ofthe knowledge and understanding ofthg charty and environment obtained in the ¢our88 of the audit, we have not idenlifled mat?ri81 mlsslalements in the Iru8tees' report. W8 havè nothlng to report In raspect ol the following matters In relation to which the Companies Act 2006 requlres u8 to report to you If. in our aplnlon.. adequate accounting records have not been kept, or r*um$ adequate for our audit h8ve not been receivod from branches not visited by us., or the financlal 8tatgmenls are not In agreament wlth the accounting records and relum8', or certaln d18clo8ure$ of Iruslee8' remuneration specffled by law aro not made," or we ha not Teceived all the Infomiation and explanations w• require for our audtt.
Bagri Foundation Company Llmllèd by Guarantee Independent Audltorfs Report to the Members of Bagri Foundation (continu Year ended 31 August 2025 Re8ponslbllltle¥ of truste09 As explained more fully in the tru8te86' responsibi1it1oS 8lètemenl, the trustees (who ar• a150 the directors forth8 purposes of company lawl are responsible forthe preparation of Ihefinancial statements and for being sallsfied that they give a true and fair view, and for such intern81 conlToI a8 the trustees determine is n$8ary lo enable the preparation of financi81 ststemenls that are frge from m8lerial mi$8tstemènt, whether due lo fraud or error. In prgparing the financial stslemenls. the trusteès are r•sponslble for assessing the charity'8 ability lo continue as a going concern, disclosing. as appllcable, matters reloled to going concern and uslng the going concern basis of accounllng unless the trustee5 elther intend lo Ilquidale the char'rty or to Gease operations. or have no realistic 8118m81ive but lo do 80. Audltof• r8sponilblllt1 for th• •udlt of the financlal ¥t•temttnts Our objecte$ are to obtain reasonable a88uranc• about whether the financial slalemenls as a whola are freé from material misstalemenl, whether due lo fraud or error, and lo issue An audrtor's report that includos our opinion. Reasonable 8ssurance 18 a high18vel of a$8urance, but is not a guaT8nt8e that an audit condurt•d in accordancewilh ISAS IUKI wlll aKv8y8 dotocl a material mls81818menl when il exist8. Mi88lalements can or($0 from fraud or error and are considored malerial if, individualty or in the gregate, thoy could re8s0nabty be expected to inffluénce the economic d•clslon8 of users taken on the ba618 of the88 financial slalemenl8. Irregularttle8, includlng fraud. are instances of non•compllancg With laws and regul8llons. W8 design prcKedures in Ilne with our responsibilities. outlined above, to d•l•ct material misstatements In SpeCt of Irregularllies, including fraud. The extent lo which ¢yJr procedur•¥ 4r• capabl? of dotecting irregularities, including fraud is datailed bebw.. - Enquiry of man$gemenl and thoBe char98d th governorui around aclu81 and pol•ntlal Ikigatlon and claims,. - Enquiry of Charity staff to identify any instances of noncompllance with laws and regulalioni., Perfomiln9 Judll work over the nsk of management overTieJe of ¢ontro18, Including testing of Sourn81 entries and other adjustments for appropriateng$8, evaluating tho business rationale of $ignlfiGant trsns8Cth)n8 oul$Sde the rlMo1 coursa of business and réviewing accounting oslimates for bia¥.' and Reviewing financi81 slalement disclosures and testing to 8LlPPOrtlng documentation to assesj compliance with appli¢able laws and regulation8. Becau¥? of the Inherent limitalton5 of an audit, there 1$ 8 rfsk that we wlll not detect all Srregularitie$. including those le8dlng to a material misstslemenl in the financial slalements or non•complianc8 with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions refleded in the financial statements. as we will be less likoty to become aware of instsnces of non<ompliance. The risk is also greater regarding irregulartues occurring due lo fraud rather than error, as fraud involves intentional ¢oncealment. forgery, collusion, omission or misr•pr•sentation.
Bagri Foundatlon Company Limltsd by Guarantee Independent Audltorfs Report to the Members of Bagri Foundation (confinu Year ended 31 August 2025 A further description of our respon8ibilitie8 for the audit of the financio18talements 1$ located on the Financial R8porting counc,5 website at wvM.trc.org.uklaudltOT8Tesponsibillties. This dosGriptK)n lorm$ part of our auditor's report. Uso of our roport Thls report is made solety to the charity'8 members, as a body, in accordance wlth Chaplw 3 of Part 16 of the Cornpanies Act 2006. Our audit work has been vndertaken so that we might stsle to the Gharrty's members th088 matters we are required to state lo them in an audilorf¥ report and for no other purpose. To the fullest extent pemirtted by law, we do not accept or assume responsibility lo anyone olhor than the chanty and the charity's members 88 a body. for our audit work. for this r6POrt, or for tho oplnion8 we have lomied. Vlvek Kapoor (Senior Slalutory Auditorl For and on behalf of Ferguson Maidment & Co. Chartered accounl8nt8 & gtatLrtory auditOT 167 Fleet Streét Londc EC4A 2EA 24th April 2026
Bagri Foundatlon Company Llmlted by Guarantse Statement of Financlal Actlvities Ilncluding income and •xponditure account) Y•ar ended 31 August 2025 2025 Unrestricted funds Total lunds Total funds 2024 Incom• and •ndowm•nts Investment Income 1,094.587 1,094,$87 1.094.687 1.134,173 Total incom• 1.094,587 1,134,173 Exp•ndltur• Expenditure on raising funds.. Costs of genèrating incomè Expendrturè on ¢harhable aclNIiI•8 Totsl oxp•ndlturn 302,605 821,9C6 1,124.511 302.605 821.906 355,966 1,211.241 1,124.511 1,567,207 Not expendlturn •nd net mov•mont In fund• 129,9241 {29,9241 1433,034} RKonclllatlon of fund• Total funds brought foard Total funds rArrl•d forward 13,877,581 13,877,581 14,310.81 S 13.847,657 13,847,657 13,877.581 The 81atgm•nt of financSal actlvitie$ include8 all gains and108888 r•cognis•d In the year. All Income and expendlture derive from Gonlinuing activiti•8. Tho nt)ts8 on pai•s 13 to 20 form part ol the•e flnancl#l #tatsm•nts. 10
Bagri Foundatlon Company Limlted by Guarantoe Statement of Financlal Position 31 August 2025 2028 2024 Not• Flxed ass•ts Inve8lment8 13 7,946,304 7,917,980 Curr•nt assets Debtor8 Cash at bank and in hand t4 29,715 6,986.044 6,015,759 33,912 8,027.306 6.061.218 Cr•ditorn: amounts falling due wlthln one year Net ¢urr•nt a•s•t• 114.406 101,617 5,959.601 5,901.363 13,847.667 13,877,581 13.847,667 13,877.581 Total assets l•B¥ currnnt Ilabllltl•• N•t aBs•ts Fund• of tho charlty Unre$lricted funds.. other Ltnre8trkl8d Incom• fvnds 13.847,657 13,877,581 Total unr•¥trl¢t•d lund• 13,847.657 13,877,581 13.847,657 13,877,581 Totsl ¢hartty fvnd• 17 The$0 financial 8latemonl8 wor• approved by the board of trust¢e8 and authorid for Issue on 24th ril 2026, and aro Signgd on baha of the board by.. The Hon Mrs. A 8agri Trustee Ms Amlsha Bagri Trustee Th• note• on pa# 13 to 20 fom) part of th•se flnan¢lal #t#tsm•nts. 11
Bagri Foundation Company Llmit8d by Guarantse Statement of Cash Flows Year ended 31 August 2025 2026 2024 C•sh Ilows from op•rating aotlvftle8 Net expenditure 129,9241 1433.0341 Adjustments for. Dwidends. Interest and rent$ from Investments Other interest receivable and simil¢r income Accrued expense8 11.052,4431 11,071,382) 142.1441 {62,7911 1.193 Chonges In.. Trade and other debtors Trade and other cradilor8 {3451 4.235 4,107} 4,501) {1,112.0671 11.574.622 46,686 55,181 11,06S.3811 11,519,441} Cash gener818d from operolbns Int8fest received Not cash used In opèraliry oclivilk Cash flows from Inv•Jtlng ac¢lvltloS Dividends, intero$1 and rents from inv•8lm8nls Purcha8e8 of other invoslmen18 1,062.443 128,3241 1,024.119 1,071.382 145,955) 1.02S,427 Net cash from Investlng actNitie$ N•t dKrea•e In ¢a•h and cash •qulvalènts CAsh and cash •qulvalènts at b•glnnlng of ymr CA8h and ¢••h •qulval•nts at •nd of yoar 141,2621 1494,0141 6,027,306 8,521,320 5,986.044 6,027,306 Tho notss on paq•$ 13 to 20 fonn part of th• finanelal $tatem•Dts. 12
Bagri Foundation Company Llmlted by Guarantse Notes to the Financlal Statements Year ended 31 August 2025 General Informatlon The charrty 18 8 public benefit entrty and a privat• ¢ompany h'mit8d by guarantee. registered in England and Wal88 and a registergd charity in England and Wales. The address of the TegI8tered t)ffice is 25-27 Loine Cbse. London, NW8 7JJ, United ngdOM. Stslement ol complIae These financial statements have been prèpared in compllance with FRS 102, The Financial Reporting Standard applicable In the UK and the Republic of Irgland., the Slalement of Recommended Practico appllc8ble lo charities preparing Ihgir accounts in a¢¢ordance with the Financial Reportlng Standard applicab in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 102118nd the Companies Act 2006. Accountlng pollclvJ Bails of preparatlon The financial Statements ha been prepared on the hlslorical cost ba518, as MOdled by th• revaluation of certain financial a88els and liabilitie8 and investment propertie5 measured al falr value through Income or ?xpondtture. Tho flnancial sl8tem•nl8 are prepared in 8t?rMng. which is th• funclkinal curren¢y of the enlily. Golng conG•rn Glven the Found8llon'8 Significant rgsorvas. the Tru8l•e8 do not conser that any material uncertalnty exists about Ils future prospod$ and have therefore continued lo prepare the accounts on a going concern basis. Judg•m•nts and k•y 8ourc¢s of estlmatlon unG8rtainty The pfèp8r8lion of the flnancial 8talemenls requires managemont to make judgernen18, estlmatès and assumpllons that affect the amounts reported. These g$limal95 and judgements are continually reviewed and are based on experience and othor factory, inCding oxpeclallons of future events that are beligved to be reasonable under the circumstances. Forelgn CUTr•ncl•s Foreign currency transactions arè Inltlally recorded in the functional eurrency, by applying the spot exchange rale as al the dale of th6 Iran$actiL)n. Monetary as8els and liabilrties denominated in forelgn currencies are translated al the exchange rate rulin9 at the reportlng dale, wrth any galns or losses belng tak8n to the slalement of finala1 aclivilie$. Fund accountlng Unreslricled funds are &v811able for al the di8crelion of the Iruste8s in furtherancg of the objectives of the Foundation. 13
Bagri Foundation Company Limlted by Guarantee Notes to the Flnancial Ststements (¢ofttinuedJ Y•ar ended 31 August 2025 Accountlng pollcles (¢ofttlnu8d) Incomlng rèsources All income is in¢lud•d in the statemenl of financial aclivltios whèn enlill8m•nt has passed lo the charity, it is probable that the economic benefits associated wh the transaction will flow to the charity and the amount can b6 rèliably measured. The following specific poli¢ie5 are applied lo particular c*egorie$ of income.. ronl81 income is recognised In the period on an accruals basil. interest on funds held on deposit 1$ Included when recelvable and th8 amount can be m6asur•d reliably by the charty.. this 18 normalty upon notification of the inl8rest paid or payable by thè bank. R•sourcè• oxp•nd•d ExpendRurg 18 rg¢ognised on an accruals bas[8 as a liabilty18 incurred. Expenditure Include8 any VAT which cannot bo fulty recovered, and 15 clas8ifK8d under headings olthe $talemenl offlnancial activities lo which it rdale5'. Property costs include expendiluro on the malnlonance and runnlng c08ts r•latin9 to th8 investment properties. Support costs Include goneral admlnislration and management. Governance costs Include compliana• wllh conslitullonol and 8tatulory requir•menl8. All costs are allocated lo èxpèndrture ¢alegori¢8 refleclSng the use of thg resource. 0Sred ¢08ts attributablé lo a single aclivty are allocated dir•ctty to that acllvlty. Shared cost$ are apportioned between th• oclfvlties they contrlbute lo on a r•aBon•bb. ju8tifiabl8 and con8i8lent basls. Investm•nts Unlislgd tqulty Inve$lmentB are inillally recorded al cost, and sub$equently moa8ured al fair valu•. If falr valu• cannot bo reliably measurgd, as8et8 are measurèd at co¥l108s impairment. Listed inve8knents are measured at fair value wllh changes in falr value being rncogni58d In Income or expendllure. Inv•stm•nt property Investment property is initialty recorded at ¢t. which includas purchase pri¢• ar any directly attributable expenditure. Investment propety is revalued lo its fairvalue al each reporting date and any changes in fair value are recognised In profil or loss. If a reliable measvre of fair value is no longer not availablé wOthoLrt undue cost or effort for an itèm of investrrtenl property, it shall be transferred to tsngibk assets and Iraaled as such until it is expected that fair value will be T81iably measurablo on an on-going ba818. 14
Bagri Foundatlon Company Limlted by Guarantse Notes to the Flnancial Statements fconlthu•dJ Year ended 31 August 2025 Accountlng pollclgs (eoniinu•d) Impalmient of flx•d assets A review for indic8tor8 of Impalnnenl is carrlèd out at each reporting dale, wlh the recoverobb amount being estimated where such indicators oxist. Where the carrying value exceeds the recoverable amount, the as8el Is impaired accordin9ty. PrioT impaimanls are also reviewed for possible reversal al each reporting dale. Flnanclal Instruments A fin8nclal asset or a fi'nancial liabilty18 recognised only when the entity b8m•S a paty lo the ¢ontr8Ctual provisions of the Instrument. B88lc financi81 Instrumen18 are initlally recognised at the amount ffjGo1Vab or pay8ble including any related transaction costs, unless the arrangemanl conytitules a financing Iran8aclion, where it 18 recognised at the present value of the future payments d15counted al a market rale ol interest for a 8lmilar debt instrument. Current 8$8Ots and curr8nt Ilabilltlos oro subsequgntty m•a6ured al the cash or other conjlderation expected to be paid or received and not discounted. D•bl Instruments are subsequently measured at 8mortl8ed cost. Financial assets that are measurod al c08t or amortisod Cost are reviewed for objective gvidenc¢ of impalrmenl at the end of each reporting dale. If there 1$ objectNe gvidence of impairmgnl, an impalrmenl loss Is recognised undef the 8pproprial• heading in the slalemenl of flnanclal activhi•8 in whlch the initSal gain wa8 recognl88d. Any reversals of impalmienl are recognlsed Immedialety, to the extent that the reversal does not result in a carrying amount of the financial asset that exceèd8 what the carrying 8mounl would have been had the impairment not previously been recogni80d. Defin•d contrlbutlon plans Conldbulions to defined conlributlon plon8 are r•cogni$8d as an expanB8 in the per in whkh the related Serv8 is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are r1 expected to be settled wholly wlthin 12 months of the end of the rgporting date in which the employees render the related service, the liabilty Is measured on a discounted present value basis. The unwinding ofthe dlscounlls recognised as 8n axpen8e In the perth in which it ari8e$. Umlted by guarants• Thè company 18 consliluled as a company limited by guarantee. In the event of the charity belng wound up members arfr required to ¢onlribule an amount not exceeding £1. 15
Bagri Foundation Company Llmlted by Guarantee Notes to the Flnancial Statements (cl0) Year ended 31 August 2025 Investment Income Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Income from UK investment PrOrtIeS Gainsl (losses} from inv•stments Bank interest receivable 664.417 388,028 42,144 1,094,587 664.417 388.026 42,144 630,235 441,147 82,791 630,235 441,147 62,791 1,134,173 1.094,$87 1,134,173 Expendlturg on charltable acllvltlo• by fund typ• Unréstricted Totsl Funds Unrostricled Total Funds Funds 2025 Fund8 2024 Charitablg grants awarded Support costs 539.823 282.083 539,023 282,083 896.760 314,481 896,760 314,481 821,906 821,906 1,211,241 1,211,241 Expendlture on charltable Actl¥StS0s by actlvlty typ• Grant funding of acllvlties Support Total fundi costs 2025 Totsl fund 2024 Charllable grants awardèd Govemarbce co818 539.823 273,333 8,750 282,083 813,158 8.750 821,906 1,202,912 8,329 539,823 1.211.241 Anaty•l8 018upport costs Analysis of support CO8t5 Totsl 2025 Total 2024 staff costs Communications and IT Goneral office Governance costs Advertising and mark8llng IGain}l Loss on foreign exchange 125,075 9,199 22,069 8,750 44,404 72.586 125,075 9,199 22.069 8,760 44,404 72,586 282.083 94,234 4,545 40.693 8.330 45.650 121,029 282,083 314,481 16
Bagri Foundation Company Limited by Guarantee Notes to t Flnanclal Statements (tontlmi•d) Yoar énded 31 August 2025 Anatysls of grant• 2025 2024 Grants to Institullon8 Cullurg Education Héalth 482,885 42.360 12.080 318.350 573,880 4,550 896,760 637.326 Gr•nts to Indlvlduals Culture 2,498 639,823 Total grAnts 896,760 10. Audhor• r•muner•tlon 2020 2024 Fe68 payabh for the aud ot the ffinanGial st8lemenl8 7,360 7,000 11. Staff costs Tho total Staff coots and •mploy8e benefits ft>r the raporting p•rlod are analysed a8 foll¢Jw8.' 2025 2024 Wag88 and 8alari•s Social security costs Employer contributions to p•nsion plan¥ Othèr employee benefrts 202,116 13.186 4,413 641 161,999 11.707 3,621 238 220,255 171,565 No employge r•¢èiv6d employee benefrt8 of more than £60,000 during th• year12024- Nill. The average head count of employees during Iho year was 512024.. 51. The averag0 number of full-lime equlvalenl employees tJuring th8 year is anatysed as follows.. 2025 2024 No. No. Number of adminislralive Staff 12. Trus1•9 r•rnunerallon and gxp•nse• During the year, no remuneration or other benefits from employment with the charity or a r01aled entity were received by the trustees12024.. £Nill. No member8 of the Board of Tru8lee8 received reimbursement of expenses12024." £Nill. 17
Bagri Foundation Company Llmlted by Guarantee Notes to the Financlal Statements (clInu•) Year ended 31 August 2025 13. Invostmonts Inv•$tm•nt propertles Cost or valuatlon At 1 Sepl•mb•r 2024 Addillon5 7.917,980 28,324 7,946,304 At 31 August 2025 Impalrmont At 1 Sopt•mber 2024 and 31 August 2025 Carrylng amount At 31 August 2025 At 31 August 2024 7.946,304 7,917,980 All inve8tmenl6 shvwn above oro held at vaallon. Inv••tm•nt prop•rtl The inveslrrvant PTOP•rties are valued on an open market basls as ot 31 August 2025 by the dlr8ctors. The propertles worè valued uslng the rentaVYkI method. The key 88sumplion8 made in the valuation of properties ar• the future n•1 ronlal inGomé 81r•am and an appropriate yield. There waB no •xtemal independent valuation carried out for the propert8. Accordingty, in the direclor¥' oplnion, the carrying values of the properties as al 31 AugU812025 are not SignifantlY different from th? op¢n market fair valu8 of those pToporties as of that dale. 14. Dobtor• 2026 2024 Trade debtors Prepayments and xcru•d income Other debtors 71 25.367 4.287 143 30,040 3,729 33,912 29,715 18. Cr110. amounts falllng du• wlthln on• yg*r 2020 2024 Trade creditors Accruals and doferr8d income Slxial security and other taxes 14,845 95,016 9.901 86.462 5.254 114,406 1D1,617 18
Bagri Foundation Company Llmlted by Guarantee Notes to the Flnanclal Statamonts (conluiue Year ended 31 August 2025 15. Credltorn: amounts falling du• wlthln ono year iconlthuodj D•ferr•d Income 2026 2024 As at 1 st September 2024 Amount released lo Incomlng resources Amount deferred in the year As at 31st August 2025 2.370 12,3701 2,220 2,220 2,490 12,4901 2.370 2,370 Deferred Income relatas to rental income attrlbutable to futur• accounting period$. 18. Penslon• •nd oth•r post rntlr•m•nl bon•ftts Dèfined contrfbutlon pl•n• The arnounl r•cogni8ed in inGome or expendttuTe as an expenae in relatlon to defined wntrfothion plan8 was £4,41312024'. £3,621}. 17. An•ly•l• of charllable fund• Unr••trlct•d lund¥ At 1 September 2024 At Transfers Ji Augwt 2025 In¢om8 Expenditurè General funds 13,877,581 13,877,581 1,094,587 11.124,511} 1,094,587 11,124,511> 13,847,657 I37.857 At 1 September 2023 At Transl8r8 31 Auwsl 2024 Incom• Expendlture General fund8 Revaluation r&8erve 14,27S,929 34,686 1,134.173 11,567,207) 34,688 13,877,581 134,686} 14,310,615 1,134,173 11.587.207} 13,877.581 19
Bagri Foundation Company Limlted by Guarante8 Notes to the Flnanclal Statements i¢thJllnuodl Year ended 31 August 2025 18. Analys1$ of not au•ts botwoen funds Unrestricted Total Funds Fund8 2026 Investments Current assets Credhor3 less than 1 year N•t assets 7,946.304 7,946,304 6,015.759 8.015.759 1114,4081 1114.406} 13,847,667 13,847,657 Unrestricted Total Funds Fund5 2024 Investments Current 838els Credltor8 le88 than 1 y•ar Net assets 7,917,980 7,917,980 6,C61.218 6,C61,218 1101,6171 {101,6171 13.877,581 13,877.581 19. Analy•l8 of chang01 In n•t d•bt At Al 1 Sep 2024 Ca8h flows 31 Aug 2025 Ca8h at bank and in hand 6.027,308 141,2621 0,986,ft44 20. Relat party tr•ns•¢llon• Durlng th• year there were no matorlal relalgd party transac18<2024.' £NIII. 20