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 $•t up by
Memorandum and Article8 of Association dated 13 August 1990.
b). Appolntment of Trustees
Tho power of appolnting new and addltlon81 tru8tee8 rosl8 with the existing trusl¢•s.
cl. Polk￿8 adcpted for the Indudlon ond trainlng Iru8tO08
Evory Truslo8 Is Provided wrth relevant Charity Commission leafflels artd Illerature. There is no formal
induction process bul a prospeelw8 Iru8tge will b• Invited lo attgnd a Iruslees meeting to discuss tho
nature of the Foundallon and tha r88ponslbilitl•$ 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 Perfo￿an¢•
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 Found*ion 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￿. Donat￿n9 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$s than 4% p.a. on bank dop081t6.
An adjacent commercial property wa8 acquired in April 2015 with the inlanllon of expanding the 81ud•nl
accorr*nodation furth8r in due course, Bubjèct to obtaining the noce88ary plannlng con60nts.
R•y•r¥es and poll¢y
Reserves are funds free￿ availablo for use by the Found811on. The Iru$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 doeff￿d lo have been re-appointed In accordjnce with $•ction 487 of the Compan168 Act
2008.
The Iru8lee$' annual report and the $lratsgic report were apprO￿d on 24kn Aprfl 2028 8nd 8igned on
behall of the board of Iru$tee$ by..
Jasvinder Slngh Kal81
Charity s￿retary

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 follo￿d, 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 6t*ements of Bagri Foundation {the 'charty'l for the year ended
31 August 2025 whiGh comprise the $ta19rnenl of financial activrties lincluding Income and expenditure
account). slal8menl of financial position, slalèmenl of cash flows and the related notes. including a
summary ol significant accounting pOI￿leS. The financial reporting framework that ha¥ been applied in
their preparation Is applicable law and Unrted Kingdom Accounting Standards, including FRS 102 The
Financial Reportlng Standard applicable In the UK and Republic of Iroland (United Kingdom G6nerally
Accepted Accounting Prarti¢e).
In our oplnion the financial stalgments..
glve a true and fair view of the Stale ofthe ch8rlty's affairs a5 at 31 Augu8t 2025 and of It8 incoming
rgsour¢o$ 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.
Ba*1• 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$. We believe that Ihe judlt evidenGo we have
obtained is sufficient and approprlale to provide a b88is for our oplnion.
Con¢luslons r•l•tlng to golng concern
In auditlng th• finanGial 8tatements, we have concluded that the trustees, use ofth• going COn￿M b•81$
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 ple￿rIbed 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$8tstemènt, whether due lo fraud or error.
In prgparing the financial stslemenls. the trusteès are r•sponslble for assessing the charity'8 ability lo
continue as a going concern, disclosing. as appllcable, matters reloled to going concern and uslng the
going concern basis of accounllng unless the trustee5 elther intend lo Ilquidale the char'rty or to Gease
operations. or have no realistic 8118m81ive but lo do 80.
Audltof• r8sponilblllt1￿ for th• •udlt of the financlal ¥t•temttnts
Our object￿e$ 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 r￿lMo1 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,$87
1.094.687
1.134,173
Total incom•
1.094,587
1,134,173
Exp•ndltur•
Expenditure on raising funds..
Costs of genèrating incomè
Expendrturè on ¢harhable aclNIiI•8
Totsl oxp•ndlturn
302,605
821,9C6
1,124.511
302.605
821.906
355,966
1,211.241
1,124.511
1,567,207
Not expendlturn •nd net mov•mont In fund•
129,9241
{29,9241 1433,034}
RKonclllatlon of fund•
Total funds brought fo￿ard
Total funds rArrl•d forward
13,877,581 13,877,581 14,310.81 S
13.847,657 13,847,657 13,877.581
The 81atgm•nt of financSal actlvitie$ 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 authori￿d 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 complIa￿e
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 MOd￿led 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 cons￿er 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$limal95 and judgements are
continually reviewed and are based on experience and othor factory, inC￿ding oxpeclallons of
future events that are beligved to be reasonable under the circumstances.
Forelgn CUTr•ncl•s
Foreign currency transactions arè Inltlally recorded in the functional eurrency, by applying the spot
exchange rale as al the dale of th6 Iran$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 fina￿la1 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 w￿h 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 b8￿m•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$8d as an expanB8 in the per￿ in whkh
the related Serv￿8 is provided. Prepaid contributions are recognised as an asset to the extent that
the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are r￿1 expected to be settled wholly wlthin 12 months of the end of the
rgporting date in which the employees render the related service, the liabilty Is measured on a
discounted present value basis. The unwinding ofthe dlscounlls recognised as 8n axpen8e In the
perth in which it ari8e$.
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 (cl￿￿￿0￿)
Year ended 31 August 2025
Investment Income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2025
Funds
2024
Income from UK investment PrO￿rtIeS
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 (c￿lInu•￿)
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 va￿allon.
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 rentaVY￿kI 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
propert￿8.
Accordingty, in the direclor¥' oplnion, the carrying values of the properties as al 31 AugU812025
are not Signif￿antlY 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. Cr￿110￿. 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
I3￿7.857
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 transac1￿￿8<2024.' £NIII.
20