Charity regtstration number 1039725 SHRI RADHE FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 SHRI RADHE FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustee Mr Lalil Chandegra Mr Ramesh Chandegra Mr Kishore Chandegra Mr Pravln Chandegra Charity number 1039725 Principal address 30 Tranmere Road Twickenham Middlesex TW2 7JB Independent examiner KLSA LLP Kalamu House 11 Coldbalh Square London EC1R 5HL BankÈrs Barclays Bank UK PLC 1 Churthill Place London E14 5HP SHRI RADHE FOUNDATION CONTENTS Page Trustee report Independent examinels report Statement of financial activities Balance sheet Notes to the financial statements 8-10 SHRI RADHE FOUNDATION TRUSTEE REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustee present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with Ihe aC(￿u￿tIng poliGies sel oul in iiole O lo Ilie financial statements and comply with the Charity's the Charities Act 2011 and 'Accounting and Reporting by Gharilies- Statemeni of Recomtnenoed vracti￿ applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)° (as amended for accounling periods commencing from 1 January 2019). Objectives and activities The Charily's Objective are to provide grants to institutions which are religious and social importan￿. Public b8n8fit I he I rustee have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charily should undertake. Acliieverrients and perforfflanGe Significant aclivilies and achievements against objectives Financial revtew The Statement of Finanaal Activities is set out on page 4 of the financial statements in detail. The donaiion re￿iVed dunng the year amounted to L4b.UUU (2U23'. £250). Reserves policy 11 is the policy of the Charity Ihal unrestricted funds which have not been designated for a specific use should be maintained at a level equivalenl lo belween three and six monlh's expenditure. The Trustee considers that resewes 81 this level will ensure that. in the event of a significant drop in funding, they will be able to Gontinue the Charily's currenl aclivilies while consideration is qiven to ways in which additional funds mav be raised. This level of rese￿eS has been maintained throughout the year. Maiorrisks Risk management The Trustee has assessed the major risks to which the Charity is exposed. and are satisfiÈd that %y.gtp.m8 arp. in place to mitigate exposure to the major risks. There are no major risks identified. Plans for future periods Objectives The charily wll continue in its efforts to fulfill its primary objectives. Structure. governance and management Shri Radhe Foundalion, Reglstered Charity No. 1039725 was founded in 1994. The charity is an unincorporated charity which is governed and operated within the requirement set out in its constltutlon. The administration and control of the Charity and ils assels are vested in a Board of trustees. The Board consists of 4 m@mbgrq (2rJ2.2.. 4 mp.mhp.rg). The Trustee who served during the year and up to the date ot signature ot the tinancial statements were.. Mr Lalit Chandegra Mr Ramesh Chandegra Mr Kislioie Clidridegrd Mr Pravin Chandeqra SHRI RADHE FOUNDATION TRUSTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Rgcruitment and appointment of t￿sta￿S Trustee tralning and recrultment The Trustees recognise that the Goveming body requires breadth and depth of experience to rarry out ils duties effectwely and efficiently. here it is desiTOUS to appoint new trustees any such appointment must be ratified by the existing Imslees al a du onsliluted board meeting. Any such new trustees are initially selected having regard to their personal and piolvbbivndl expertise In the acllvllles of the charity. It required. training ￿ gwen 10 new Irustees to ensure they are compliant and able to fulfill their roles. All decision making is undertaken by members of the Board. The tharity has no staff and there is. therefore. no requirement to delegate decision making further. The Trustee report was approved by the Board of Trustee. Mr Lalit Chandegra Trustee 29 October 2024 SHRI RADHE FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEE OF SHRI RADHE FOUNDATION I report to the Charity Trustees on my examination of the accounts of the company for the year ended 31 March 2024. Responsibilities and basis of report As the Trustee of the charity you are responsible for preparation of the finanaal statements in accordance with the requirements of the Charities Act 2011 (the 2011 Ad). I report in respect of my examination of the Charity's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination i have followed all the applicable Directions given by the Charily Commission uiider seGlioii 145(5)liiLIvLI luiids are available foi use at the disr￿dion of the Trustee in furtherance of their Gharilable objectives. Restricted funds are subj8Ct to specific conditions by donors or grantors as to how Ihey may be used. The purposes and uses of the restricted funds are set out in the noles to the financial statements. IA IncomÈ Donations is recognised when the Charity is legally enlitled to it after any performance conditions have been met, the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised On￿ the Charity has been nolified of thè donation, unless performanca conditions raquire deferral of Ihe amount. Income tax recoverablp. in relation to donations received under Gift Aid or deeds of covenant is recognised al Ihe time of the donation. 1.5 Expendilure Expenditure is recognised On￿ there is a legal or constructive obligation lo transfer economic benefit lo a third party, It is pmbable that a transfer of economic benefits will be required in settlement, and Ihc amount of the obligation can be measured reliably. Expenditure is classified bv activity. The costs of each activity are made up of the total of direct costs and shared costs, including support cosls involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly to that activity. Sharp.d rA)sts which contribute to more than one activity and support costs which are not allribulable to a single activity are apportioned between Ihose activities on a basis consistent with the use of resources. Central staff costs are allocatcd on the basis of time spent, and depreciation charges are allocated on the portion of the assel's use. SHRI RADHE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) Expenditure is accounied for on a payment basis and Trids beeii dassified under headings that aggregate 811 cost related to the category. Where costs cannol be directly altributed to parlicular headings they have been allocated to activities on a basis consistent with the use of resoUr￿s. 1.6 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks, olher short-term liquid invp.8tmenls with orioinal maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.7 Financial instruments The Charity has elected to appty the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Olh8r Financial Instrumenls Issues, of FRS 102 to All af its financial instnjments. FiridfiLidl iiislrunients are recognised in the charit￿s ba]ance sheet whcn the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. wilh the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounls and there is an intention to settle on a net basis or to realise the asset and settlp_ thp_ li2hilily qimultaneously. Basic financial assets Ragir. financial assets. which include debtors and cash and bank balances, are initially measured at tiansaclion PTice induding transaclion costs and are subsequently carried al amortised cost using the effective interest mclhod unless the arrangem8nt constitutes a financing transaclion, whe.rg the transaction is measured at the present value of Ihe future receipts discounted at a markel rate of interest. FinancAal assets classifled as recelvable withiri uiiv yeill dl¥ Iiul dlllUI"lised. Basic linancial liabilities Basic finaiicial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaclion, where the debt inslrument is measured at the present value of the future payments discounled at a market rate of Inlerest. Financi31 lidbilities classified as payable within one year are not amortised. Debt instrumènts are subsequently carried at amortised cA)st. Ilsing the effective interest rate method. Trade creditors are obligations to pay for goods or senficcs that have been acquir8d in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilitie5. Trade uedilois are iecognised initially at transaction price and subsequently measured at amortised cA)st using the effedive interest method. Derecognitiuii offiiiaiicial liabilities Financial liabilitie5 are derecognised when the Charity's cL)ntractual obligations expire or are discharged or can￿lled. 1.8 Employee benefits The cost of any unused holiday entillement is recognise¢J In the period in whlch Ihe employee's seiviueb dl received. Termination b8n8fits are recognised immediately as an expen8p. whon the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. SHRI RADHE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 CritiGal accounting estimates and judgements In the application uf Ilie Clidiily's accounting policies, the Trustee are required to make judgements, eslimatc- and assumptions about the Garrying amount of assets and liabilities that are nol readily apparent from other sources. The estimates and associated assurnptions are based on historical experience and Olher factors that are considered to be relevant. Aclual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales are recognised in the period in which Ihe estimate is revised where the revision affects only that pei iud, vi iii Ilie pei.iod of the ieM5ion and future period3 where the revision affects both currcnt ond future periods. Income from charitabla aetivities Unrestricted Restricted funds funds 2024 Total Unrestricted Restricted fijnds funds 2023 Total 2024 2024 2023 2023 Gift aid Gift aid 11.250 11.250 250 250 Restricted funds Donations 46.000 46.000 11,250 48.000 250 Expenditure on charitable activities 2024 2023 Direct costs Share of support and governance costs (see note 5) Governance 500 .500 Analysis by fund Unreslrioted funds -fjoo 500 Support costs allocated to activttiÈs 2024 2023 Basis of allocation Accounting f88s Governance costs 500 500 Analysed between: Charitable activities 500 500 SHRI RADHE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Net movement in funds 2024 2023 The riet Iiiuveinent iii funds is stated after charging1{Grediting): Fees payable for the independent examination of the charitvs financial statements 500 500 Trustee None of the Trustee (or any persons connected with them) received any remuneratlon or benefits from the Charity during the year. Einployees The average monthly number of employees during the year was: 2024 Number 2023 Number Total There were no employees whose annual remuneration was morg. th2n £60.000. Taxation The charity is exempt from taxation on its aclivities because all its income is applied for charitable purposes. 10 Debtors 2024 2023 Amounts falllng due within one year. other debtors 19,742 8,492 11 Creditors: amounts falling due within one year 2024 2023 Accruals and defcrrcd income 2,500 2.000 SHRI RADHE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Restricted funds The ieslriGted funds of the charity comprise the unexpended balances of donation3 and grants held on tru: subject to specific conditions by donors as to how they may be used. At 1 April 2023 Incoming At 31 March resources 2024 46,000 46,000 13 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donalions and grants which are nol subject to specific conditions by donors and grantors as to how Ihey may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 April 2023 Incoming resources Resources At 31 March expended 2024 General funds 9.321 11,250 (500) 20,071 Previous year. At 1 April 2022 Incoming resources Resources At 31 March expended 2023 General funds 9.571 250 (500) 9,321 14 Analysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Current 838et31{liabiSitie3) 20,071 48,000 66,071 20,071 46,000 66,071 Unrestricted fiinfl Restricted funds 2023 Total 2023 2023 At 31 March 2023: Current assetsl(liabilities) 9,321 9,321 9.321 9,321 10-