Charity Number.. 1064988 SHRIMATI PUSHPA WAT[ LOOMBA MEMORLIL FOUNDATION REPORT FINANCIAL STATEMEYrs FOR THE ￿AR ENDED 31 MARCH 2023 sHRI￿LiTI PUSHPA WATI LOOMBA MEMORIAL FOUNDATIOI CONTENTS Page Trustees. r¢port Ind¢p¢ndLmt auditor's report Ststement of Financial Activities Balan¢e Sheet io Notes to the financial statements 11-16 SHRIMATI PUSHPA WATI LOOTrIBA MEMORIAL FOL'.NDATION LEGAL ADMtNtSTRATTrT Th￿ORmATIO President Iady CFLerie Blair CBE KC Patron-in-chief Sir Richard Bransott FoUlld￿ and Chairnian Trustee I￿rd Loomba CBE Honourees Laura Bush H E Paul Kagame, President of Rwanda Lady Cherie Blair CBE KC Yoko Ono Craig Barrett Rachel Mayanja Patrons Lord Dawd C8rneron (fornier UK Prime Minister) Sir Nick Clcgg (fornier LX Deputy Prim¢ Minister) Lord Karan Bilimoria CBE DL Dame Joanna Lulldcy OBE Baroness IIeletLa Ka]lledy of the Shaws KC Baroness Jay ofpaddillgton Rt Hon Sir Tony Baldry Graham Tobbell Susall Tobbell ShamitL Lalji Lord Rana MBE JP Rt Hon Patricia Hewitt Trnstees Lord ￿0￿ba CBE (Chair) tady Loomba Reeta Sarkar RorrLa Loomb& Rinku Loomba Friends of tbe Loomba Foundation Mike Tobin OBE (Chalr) Advisory COU￿11 (UK) Alpeskn Patel OBE (Chair) Sh¢elal Kapoor Ricky Kapoor Joho AthTral OBE Vijay GoeL Champion of the LA)omba Foundation Cbris Parsons SHRIMATI PUSHPA WATI LOONIBA ){EMOIUAL FOUNDATION LEGAL AM) ADMtNISTRATIVE f4FO]UMATIO Governing Docurnent and Constitution as80ciation Foundation Deed datd 26 1997 as ajl unincorpoTatcd Charlty Numbcr 1064988 Clwity OtTi¢e Loomba Housc 622 Westem Av￿u¢ London W3 OTF Contsct: Safdar Shah, Exccutive AssistatLt to Chairman Bmail: safdarCéLth¢loombafoundation.org So]icitor8 Bates. Wells IO Queen Street Pla¢¢ tnndon EC4R IBE Audilors GoldThin8 Chartered Accountants 75 MaygroNr Road London NW6 2EG Bankcrs HSBC B&llk plc 60 Qu¢¢n Victoria Street IA)ndoo EC4N' 4T SIlliIfvIATI PUSHPA WATI LOOMBA MI ENIORIAL FOUI¥DATION LEGAL AIID ADMtP*USTRATIVE tNTOlLTrIATIO The Loomba Foundation has Sister CILarities registered An India and thc USA. India Patrons Sir Mi ark Tully OBE Dr Anma Oswal Padma Shri Vikramjii Singh Sa]]ni Dr Rajinder Singb Chadba Batbir Singlk Kakar Asbish Chauhan Sanjeev KhaDna (USA) Raj Sahni (UAE) T￿Stee8 Lord Loomba CBE (Chair) Lady Vcena LoollLba Hariiv Singh Amit Chaudhry Charity Registered office SuiteNo 13-14 31 Prithivira NewDelhi 110011 Charity Operational Office Plot No.15, Block No.28, 1st Floor, Main 60ft. Road, Vishw&s Nagar D¢lhi-l 10 032 Contact: Mr Hemant Kumar Shamia Email.. hemantCa.theloombafoundation.org SHRIbL4TI PUSllPA WATI LOOMBA MEIIORIAL FOUNDATION TRLSTEES? REPORT FOR THE YEAR ENI)ED 31 MARCH 2023 The Trustee5 preS￿t their R¢port and the fjnallcial statements for the year ended 31 March 2023. Foundatloll Pro 26 June 1997: The Foundation was estsblisbed in the UKby Raj and Veena tAiomba by a charitable TrustDeed on 26 June 1997 and has sister charities register￿] in ItLdia aud the LTSA. The inspiration came from Raj's late mother, Shrimati Pushpa Wati Loomb4 who became a widow at thc early agc of 37 and succecded ill cducatitig her Seven childrcn sittgle-handed. The Foundation was officially launcbed in London on 25 March 1998. in thepre5cnce of the Prime Minister, The Rt. Hon. Tony Blair MP, and his wife Cheri¢ Blair. The FoulldatÉon also received the support of the Honourable Prime Minister of India, Shri Atal Behari Vajpayee. who inaugurated the Foundation in New Deihi on 31 March 1999, by lighting a ceremonial lamp at his resideuc& The cmnony attended by Sir Rob Young GCMC, British HI￿ Commissioner. ThelK>orrLba Foundation was also o￿l¢IallY launch¢d in S¢otland in 2iJ)3, in the USA in 2005. in South Africa in 2(M)6, in Kenya and Rwanda in 2008 and in Canada in 2009. Ob ecdves and Aetivities: The Foundarion is constitutal by Trll￿ Deed and its objects and aims are to promote the welfare and education of the children of poor widows, 0￿1￿]ed children alld children who have lost their mothers as a result of natural disaster and for other &￿illAry purposes as the Trustees may deterniine. ttL a¢¢ordan¢¢ with its grallt-making policyj the Foundation Curr￿tlY makes granis to its sister charity in India, the Shrimati Puthpa Wati tA)omba FoundatlOD, to fidfill its aforesaid altus. This sistcr ch￿lty distributcs fullds to support children ill India. TheBoard of Trustees has decided lo includccmpowernientof impovcrishcdwidows in tndia alld around the world. CherieBlxir CBE QC, wife of tbe forn]¢rBritishPrim¢MjDis￿. who b¢¢amethe first Patron of theFoundatioo in 1998, agreed to become the President and officially inaugurated Loomba House in LA)ndon on 8 September 2004. Ovcr tbe years, Mrs Blair has continued to travel to various countries to attend the Foundatioll's events in order to raise awareness of the plight of widows and their ebildren around the world. SlrRlchard Branson agreed to become PatroD-in-Chtef in 2004. Hehas attendedtheFoulldation's filllltraising events in India and South Africa. He has also supported the FouEkdaiion by making all appeal on BBC Radio 4 in 2004, and he raised over £iOO.000 through three 'Cbange for Children. appeals on Virgin Atlantic flights worldwÉde. Internatlonal Widows Day- Flagship: Thc Loomba Foundation launchcd International Widows Day, which takes place each year on 2J Julle, to highlight the ptigbt of widov¢S and their cELildrell all over the world and lo provide a focus for effethive action. The date of 23 JutLC was chosen because it was on this day ttlat tnrd Loomba's mother, Sbrimati Pushpa Wati Loomba, the inspiratioll for the FoUlldatio￿ b￿arne Y4 ￿'idoW in 1954. This flagship of thc Foulldation was announced at the House of Lords in the UK on 26 May 2005, which was followed by laull¢hes itk tndia on 7 Septctnbcr 2005 and the LSA on 21 October 2005, respectively. The US launch was attended by Hi8 Excellency Kofi Annan, Secretary Gcnernl of thc United Nations. sItRIMATI PUSHPA WATI LOOMBA MF,MORIAL FOUNDATION TRUSTEES, REPORT FOR THE YEAR Ehl)ED 31 NL4RCH 2023 The LoombaFoundation is proud that through its tireless campaign ovff five years, the Unlted Nitlons d￿lared 23rd June as UIY Inlernational Widows Day at its 65 General Assembly in 2010. The first UN re¢ognised International Il'idows day was marked on 23td June 2011, at the United Nations, Headquarters in New York Imd chaired by Madame Bao Soon, wife of the LTh Cieneral s￿retary. His Excellellcy Ban Kt Moon. The second UN recognised International Widows Day was marked on 23ta June 2012, atNo 10 Dowlling Street in London bythe D¢puty Prime Mini8ter, Rt. Holl. Nick Clegg MP. and his wife. Ms Miriam DuranÉez GOr￿aleZ. 30 June 2008: The Loomba Foond*tioD beeame an Assoclate of the DepartDAellt of Public InforniatiDn (DPI) of the Unlted Nations. Through theUnitedN.ations accreditstion, the I￿oMba Foulldatiollis corrllnittedto raising public a￿.arenesS about the purwse and actiTrities of the L'nitedNatiims and issues Dfglobal concerns, and especially about the plight of widows alld their children wbo are suffenng through poverty, illiteracy, diseases such as HtVlAIDS and Malaria, conflict and violence and social injustice. 2012: Tbe Ecollomic and Sodai Couneil of the U￿ted ￿ltionS recomfftertded the Loomba Foundation for Spe¢ial Consultative Slaths in 2011 and granted it in 2012.-Special Consultative Statu5" is ¢onferr¢dupon those non-governm¢lltal organizations that demonstrate a sp￿la1 competence in a selected field of concern. Thi8 designation allows thc Foundation to send offi¢ial rq)resentstives ro participatc in ev¢nts and Conferences at the United Nations. Resear¢h and PublicatloD5 INVISIBLE, FORGO￿£￿1 SLFFERERS- THE PLIGHT OF MryDOWS AROUND THE WORLD: In 2010, the Loomba Foundation publishcd a Compreh¢nsi¥'e ResearclL Study Book - 'Invisiblc, Forgottr SuffereT8: The Plight of Widows Around thc World.. The r￿st edition was presented lo theUN ScrtryGeneral, H.E. Ban Ki Moon, by the Presid¢DI of thc Foundatio￿ Cherie Blair: and Founder and Chairman Trustee, Lord tA)omba CBE. The book was subsqu¢ntly presented io the Hon'ble President of India and the US Secretary of State, Hilary Clinton. A HIDDEN CALAMITY- THE PLIGITf OF W]DOWS: The Loomba Foundation Ills aLso published a book ofoil and acrylic paintings higEJighting the plighi widows aroulld the world by London-ba5ed artist Reeta Sarkar. Eniitled'A Hidden Calamity: Thc Plight of Widows,, the book includes 17 of Reda"s oils aud acrylics painttngs based on three key thcmcs - South Asi4 Africa and ConfiicL Thes¢ paintings wcre e.thIbit￿ at the UN Headquarters from 23 June to 15th July 2011 to celebrate International Widow8 Day. The exbibilion was inaugurated by Yoko Ono. widow of Beatle John LCt￿on and a supporter of the Looinba Foundatio￿ These paintillgs werc cxllibited ar 10 Domiing Street in London commemorate International WAdows Day ill 2012. ONE MAN WALkThG- A WALK FOR WIDOWS: This book is Chn"s Parsons's inspiring story capturcd in a blog he dictated every eveutng of his walk and accompanied by comments from all over the world and sotne amazing pictures- depictinghis 30 x 30 Marathon Walk frotn Mumbai to BatLgaiore to raise money for the Loomba Foundation. SHRIMATI PUSHPA WATI LOOMB,I MEMOIUAL FoU￿￿ATION TRLSTF,F.S' REPORT FOR THE YEAR E)I)ED 31 hlARCH 2023 WORLD MTDOWS REPORT: During 2015, the Loornba Foundation commi&sioned Mr. Harnka Risto to update the research study which was published in 2010. The Loomba Foundation's World fi'idows Report is the only authoritative comprehensive data 80urce about the discriminatioll and injustice faced by H'idows and their dependentg coullty by county worldwide, infonning policy formulalionbythc UnitedN L'ati¢)ns and natio[￿1 governM￿tS. Itwas publishedon151 Febrnary, 2016. Th¢ World WidowsRcport is publishedto coillcidewiththeUN's adoptionof the Sustainabl¢ D¢v¢lopmentGoals and provides a basis for rescarchers, aid agencies* governments andother8to develop evid￿¢¢-basCdpolicyfor a b¢tt¢r world. Key findings include: The affected population is 259m widows with 584m Childr￿ worldwide. 38m widows live itL extr¢me poverty. Since 2010 there has been a significant exacerbatioll itLconfiict areas in th¢MiddleE&st and North Africa, notably tbe s￿lan ¢ivil war. Worst aff￿led by conflict andinsurgency arc widows inAfghanistgn, traq. South Sudan. Central African Republic, Syria, north¢ast Nig￿1< soutlleast liiger. west Chad and notth Cameroon. In Sub-saharan Africa the worsi condttions are faced by evi¢ted and abandoned widows with dep￿ents and by those caught up in Ebola areas, exaccrbated by tradiuonal 'cleansing' rituals. Widows with ollly female children and ¢hild widowsaged Etheen 10 and 17 face severe discrimination in many dcvcloping countrie& Social nortns around sexual behaviour remain ¢ow)tffproductive with extreme povaty as a drAver of 'exchange sex, and 'survival scx. relationsbips and ]K>or quality healthcare. Widows in dev¢loped Countries are also affected by welfare cuts and increased insecurity. Customary 'cleansing' ritual5, wb¢Te widows arerequired to dritik thc wal¢r with which their dead husband's body has be¢m washcd and to have sex ￿'1th a relative, spread disease and violate the dignity of widows in many Sub-saharan countries. Widows are r¢gularl! accusedof killing their husbands either deknberatel> orthrough neglect- including by transmitliDg HIViAIDS- in Jndia, NepaL Papua New Guinea and Sub-saharan Africa. SYstell￿tiC seizure ofproperty a￿deViCtionS by Ibe latc husband's family remains widespread in Angola, Bangladesh, Botswatka, Republic of Congo, DR Congo. India. Ivory Coast. Ghana. Kenyl Lesotho, Malawi, Namibi4 Nigcria. Rwand4 Scnegal, Swaziianl Tatizalli4 Ugand4 Zanthi& and Zimbabwe. 20th Anniversary B(hok Loomba Foundation publish￿ b(bok to celebrate its 20th annivewry. detailing twellty success￿1 years fighting injustice against widows, on the occasion of our Annual Gala BalL wlLi¢b wa5 held at the Dorchester Hotel in London on 23rt June. 2017. SHRIMATI PLSHPA WATI LOO.MBA MEMORIAL Fouf4DATtoN TRLSTF.F.S' REPORT FOR THE YEAR Ef4DED 31 MARCH 2023 Activlty Report 2022-23 IT WAS A SPECL4L YEAR FOR THE LOOMBA FOUNDATION AS IT CELEBRATED rrs MILESTONE 25TH ANNtVERSARYON NfERNATIONAL WEDOWS DAY, 23rdJUNE, BOTHfN THE UKAND INDtA. UK: The Loomba Fouadationh¢ld a banqv¢t gt the BaDqueting Housein Whitehall in Londonon23rdJune 2022, to celcbrale th¢ 25th anniv¢rsary {I997-2022) in a grandeur way. Our Guesl of Honour was Skr Tony Blair KG, Fornier British Prime Minister. The eveni was attended by over3(K) guests including the Sp¢8k¢r of theHouse of Lords, Kt. Hon. Lord McTrall of Alcluith 8lld our President tady Ch￿Ie Blair CBE QC. The Lwmba Foundation rais￿ funds at the evetLt to sUp￿)rt 1000 Ukrainian famiLies, including mothers and hildren. fleeing from war-tortL Ukraine to settle in the The proje£t cost £80.000 and it was mallaged by Barnardos, UK'S largest charity for childrcn. Indta.. The LoollLbaFoundation ELeld au event at Sbri lagiri IAI tA)otllba MemorialGovt. Senior Secondary School in Dhilwan in PLLnjab on TELursday, 23rd Julle 2022, to mark the UN Jnternatii)nal Widows Day 2022 and the Loomba Foulldation's 25th Anniversary. On this occasion, The Loomba Foundation distributed scbolarship cheques to the children of poor widows to support their education in the school. Tre Cheques were also distribuied to the meritOriOUS 8tudellts for their outstanding p¢rfornianc¢ in studics during lasl academic session. The s￿d￿ts perfonTJed a cultural prosramm¢ "Gidda and Bhangra", wh&¢h is a Pulljabi lolk dan¢¢ Other activities which look place during the year: We participatoj in a group wcdding of 30 widows in Dclhi in India by donating Rs.30,000 Wc donated Rs. 570,000 for the renovation work to a sclkool in Dhilwan ill Punjab in Indi& We distributed 1000 blayjkels lo w widows- 250 blankets in each of the four states namely Delhi, Gujarai, RajasihatL and J&K. We started a new projeci io empower 5(100 widows in the state of Uttar Pradesh in partllership with the us tndia Frielldsbip Alliallce, wbich will be completed io two years 2023 and 2024. Lok Bharti Skilling Solutions PVT. Lid. will impart skills training in hospitality, tourism. tailoring, beauty & health¢ar¢ and food processing in five locations namely Varanasi. Gorakhpur. Lucknow, Amethi and Chandauli in th¢ state. The pmject will Cost USS 41K).I)00 to be shared equally theLoombaFovndation and theus Itldia Friendship Allian¢e. Future plan5 for 2023-2024: We will eontinue with our existing educational progrdmmes and ern￿WerMent projects. Public benefit tn running the charity. the Trnstees have complied with their duty under Section 17 Charities Act 2011 to have regard to the public benefit guidance published by the Charity Commission. By empowering widows and educating their children, the ¢knrity perfornis an enor]nous public bellefLL The activtii¢s that the charity has Carried out to achieve this hav¢ bectL covcrrAI in detail earlicr iti this reFrf)rL SHIUMATI PUSHPA WATI I,OOMBA MEMORIAL FOUNDATION 'I'RUSTLLS' REPORT FOR THE YEAR ENDED 31 LVIARCH 2023 Statement of Trustees, responsibilities The trustees are responsible for preparing the TNstees' Report and the financial Slatcmellts in accordance with applicablc law and United Kingdom Accounting Standards including Financial Reporting Standard 102 The FinaKcialReporlingSiftndardftpplicttble itl the UKandRepublic ofIrelL7nd(United Kingdom Generally Accepted Accoulltiug Practice). The law applicable lo charities in England & Wales requires the trustees to prepare f￿anCIal statements for each financial year which give a true and fair view of the slate of affairs of the charity and of the in¢om¢ and expenditure of the charity for that pcriod. In prq)aring these f￿anCIal statements. the trustees are required to= select SULtable accounting policies and then apply them collsistently. observe the methods and principles in the Charities SORP,. make judgments and accounting csttmates that are reasonablc and prudent. state whether applicable accounting standards have been followed, subject lo any material departures disc105ed and explained in the fmancial statements. alld prepare the Fmancial statements on the going concern basis unless il is inappropriate to prcsumc that the charity will continue in business. Thc trustccs arc responsible for maintaining proper accounting recordswhich disclose with reasonable accuracy at any time the f￿anCial position of the charity and cnable Ihcm to eThsure that the fmancial statements ¢omply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust dee￿ConSI)IUI1On. They are also responsible for safeguarding the asscts of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irrcgularities. The trustees are responsible for the maintenan¢e and integrity of the charity and fmallcial information included on the charity's website. Legislation in the United Kingdom goveming the preparation and dÉssemination of f￿9￿¢1￿1 stateinents may differ from legislation in other jurisdictions. Auditor inforniation In Ihc case of each of the persons who wereTruslees during the fmancial y¢ar and were Trustees at the lime when the Trustccs, Rcport is approved.. so far as the Trustee is aware, there is no relevant audit inforniation (infornialion needed by the charity's auditors in connection with preparing their report) of which the charity's auditors arc unaware, and eacli Trustee has taken all the steps that he ought to have takerl as a Trustee in order lo make himself aware of any relevant audit information and lo establish that the charity's auditors are aware of that infornialion. Approved This report was approved by the Trnstees on ...a:kna r _ and signed on their behalf by'.- Lord Loomba CBE {Chairman Tru5tee} SHRIMATI PLSHP.4 WATI LOOMBA I¥IEMORL4L FOUNDATION EPENDENT ALTDfIoRS' REPORT TO THE TRUSTEES OF SHRlbL4TI PUSHPA WATI LOOTrIBA MEMORIAL FOUNDATION Oplnlo We havc audited thc flnancial statements of Sbrimati Pu5hpa Wati IA)omba Memortal Foundation (tbe'charity,) for the Ye￿ ended 31 March 2023 which comprise th¢ Staiement of Finan¢ial Activities, the Balan¢e Slieet and notes to the fu￿1¢1a1 statements, including a sutnmaryof significant accounting policie& The financialreporting fratnework thathas been applied in theirpreparation is appjicable law alldunitaj KingdortLAccountillg Standards, including Fillan¢i&l Reponing Siandard 102.. The FiDancial Reporting Standard applicable intheLK and Republi of Ireland (United Killgdom Generally Acceptsl Aecountitig Practice). In our oplnlon, tbe flnaDcl41 stsl¢meuts: 'give a trne and fair view of the state of the Charity's affairs as at 31 Ma￿h 2023 and of its inwme and expenditure for the year then ended. .have bcen propcTly prepared in accordance with Lnited Kingdom G￿)erallY Ac¢epted Accouoting Practice" .have been prepared in accordance with the requiremenLS of the Charities Acr 2011. B4$is for oplDioD We conducted ouraudit in accordance with International Standards on Auditing (UK) (ISAS (UK)) alld applicable law. Ourre4)onsibiliti&s undu those standards arc furthcrdcscribed in thcAuditor's responsibilities for the audit of the fmancial 81atemenls sectioJ ofow reporL We are indqKndcllt of thc Charity in accortsnce with tbe ethical requirements thai are relevant to our audit of the finatLcial statements ID the UK, iDcludillg the FRC'S Ethic Standard alld wehave fulfilledourother ethicalresEX)llsibdities ill accordallcewlththeserequire￿ellts. ￿'ebelIeVe that the audit evidence we have obtaill￿ is sufficiellt and appropriatc tD providc a basis for our opinion. Conclusions relating to going toncern In auditing the f￿anCIal slalcments, we ha%e concluded that the trustees. use of the going con¢ern basis of accounting in LILC prcparation of the financial statements is appropriate. Based on the work we have perf0rnie￿ w¢ have not id¢ntifiL71 any mal¢rial uncertainties r¢lating to eVc￿t$ or conditions that, individually or collectively. may cast significant doubt on the charitys ability to continue as a going concern for a period of at leAst twelve months from when the finallcial statements are authoriscd for issue. Our responsibilities and the responsibilittes of the directors with reSp￿t to going concern are described in th¢ relevaut se¢tioDS of this report. Otber luformatioll The ttustees are responsible for the other inforrnatio￿ The othcT illformation comprises the infonnation included in the annual report other thatL tELe f￿3￿¢1￿1 statements and our auditor'i report thereon. Our opinion on th¢ f￿anCial statem¢nls does not covcr thc othcr inforniation all￿ except to the extent othenyise explicitly stated in our r¢port, w¢ do not express any form of assurance conclusion thereon. In connection with our audit of thc financial statements, ourwllsibiliry isto readthe other illfonnation and, in doing 80, consider whether the other inforniation 15 materially inconsistent with the finaucial 5tatcments or our knowledge Obtain￿ in the audil or otherwisc ses of our audit. Responsibl]ities of the trustees As explainedllLore fiLllyinthe t￿LS￿eS. restK)nsibilities statement, the tn￿leeS a￿r¢S￿nSIble for the preparation of the fillallcial statements alld for being Satisf1￿ that they give a true and fair view, aod for such internal control as thcy dcterniiDe is ncecssary to etlablc the pr¢paration of finallcial stst¢m¢nts that are free from material nii8Statement. whethcr due to fraud or error. In preparing the fmancial slaiement4 the trEtslees are resyTrnsil>le for assessing tbe Charity's abiliry to continue as a going conc￿ll. dis¢losing, as applicable, matter5 Telalcd to going c(mcern and using the going concern basis of accounting unless the trnstees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so. Our resybnsibilities for the audit of the fmanclal statements Our objectivcs are to obtsin reasonable assurdn¢e whrtbertbe fuLan¢ial statements as a whole are free from natcrial ￿lsstate￿£llt, whcthcr due to fraud or ermr. and to issue an auditor's report that includ¢s our opinion. Reasollablc aSSL￿ance is a higlL level of assurance, but is tLOt a guaralltee that an audj't ¢onducted in accordance with ISAS (UK) will always detect a material misstatemelli when it exists. Misstatements can arise from fraud or enor and are considered material if, individuall). or in the aggrcgatc, thcy could reasonably be expected to influence the economic declsions of users ts&cn oll the basAs of thesc fir￿nCIal stal¢m¢nts. Irregularities, illcluding frauQ arc iD5tanccsof non-compliancc with lawsandregulations. We design pr(Kedures in line with our re8ponsibililic4 outlined abov4 to dclcct malcrial misstatements in respect of irregularities, including fraud. Th¢ exlenl to which ourprocedures are capableofdetecling itregularities, iticEudingfr8ud are set out below. In identifying and assessing risks of material tuisslatement ill respcct of irrcgularities, including fraud and non- compliance with laws and regulation4 our procedures included the folloiving: Wc Cnquired of management, which included obtatning alld reviewing supporting documentstion, conccrning the charity'8 policies alld proced￿ relatitLg to.. identifying, evalualing, aodcomplying with lawsalldregulations andwhetbttthcywercawore of any in5tallces of non-compliance. SHRIMATI PbSHPA WATI LoOmBA.￿lIORllAL FOUNDATION EPEYDEYT AUDITORS, REPORT TO THE TRLSTEES OF SHRIMAII PUSItPA M:ATI LOOhlBA MEMORIAL FOUThI)ATION Detcctittg ond responding to the risks offraud and whether they have knowledge of atly actual, suspected, or alleged frdud. The internal contro15 Cstablished to mitigate risks relaloj to frau(L We obtained all understanding ofthe environmelll thatthe clwity opcrates in. focusing on those Laws and regulations that had a material elTecl on the fmancial 5tatement& Wereviewedthe fllwicial statementdisclosures andtested these to supporting documentstionto a8se5s compliance with appticable accounting standard. Weperfornied analytical procedu￿St0 identsfyanyunusual orullexpect￿l relationsbipsthatmay indicate risks of material missthtement due to fraud. tn addre5sitig the risk of fraud through management override of controls, we tested tbe appropriatcness ofjournal ¢nrri¢s and other adjustsD¢nts. assessedwh¢tber the judgcmcnts made in making accounting estimates are indi￿tiVe of a po¢¢ntial bias and tested sigtiificallt trallsactions th&t are unusual or those outsid¢ th¢ nornial ¢ours¢ of business. U8e of our report Thisreport is made solelyto the Charity's trustee4 as a body. ill accordance with section 144 of the CharitiesAct 2011 and the regula¢ions made ulldcr section 154 of that ACL Our audit work has been undertaken so that we might state to the Charity's trustces those matters we areT¢quiredto state to then in an auditor's report and forno other purpose. To the fullcst cxtcnt p¢rn]itled by laR', ￿,¢ do not accept or assume responsibility to anyonc other than the Charity and the Charity's trustees &$ a t￿)dy. for our audit work, for this repor¢ or for the opinions we have forned. 10 January 2024 GOLDWINS LIMITED 75 Maygrove Road West Hampste&d Lottdon NNI'6 2EG CHARTERED ACCOUNTANtS REGISTERED AuD￿0￿s *3ritri/ by ￿1[tu￿Or it> eligibilitri 14r alloLJintTI Vn:. 3&; CLIIV.PA,I j Linder SHRLTrIATI PLSHPA WATI LOOL￿BA MEMORL4L FOUNDATION STATEMENT OF FLYANCL4L ACTivrrIES FOR THE EIYDED 31 MARCH 2023 Unrestrleted Restrlcted runds funds 2023 2023 Total futsds 2023 Unrestrlcted funds 2022 Re8trlcted fullds 2022 Total funds 2022 Income from: D(>natioms and Legieles D(knation5 Income recoverable Note 143,570 24,568 143570 24A68 22.905 490 22,905 490 ChaAtable ActLvldes FundraisillE, cvent & projeci Inveitments Interest incorne-UK 34,931 34931 5,795 5,795 3.841 490 Other General donation from The Loomba Group of Companies {TLGOC) 98.610 98,010 96.856 90,850 Totil tll¢om¢ 305,520 305 126 536 Expendlture on: Charltable ArtiTr4ties LF25 anDiversary celebrations InternatiotMI Widow5 Day & Advocacy Publication Assistance to WidoM's- India Fundraiskng, event & project Donatiolls to Barn3sdo's re Ukrainian re￿geeS Donativn 94.650 94,650 33,609 11,090 100,01)o 24,447 33,6119 11,090 100,IM 24.447 17.167 17,167 14,730 14,730 64.046 1,450 64.046 1,450 15.050 15,050 Total expenditure 329 92 329292 Net (deficit)/surplu¥ for the year Transfer between fiwds (23,772) (23,772) 79,589 79,589 Net {deflelt)18urplu5 in funds (23,772) (23,772) 79.589 79,589 Reconclliation of funds: Total fill￿8 brought forward Tot￿ funds carried forward 365 617 365 617 286 028 286 028 341.845 365.617 365 617 All of tbe above r¢sults are derived from continuing activities. There were no other recognised gains or10&8es other th08 staled abo*'e. Mov¢ments in funds are discloied inNote I I to the financial statemenr8. SHRIMA TI PUSHPA WATI LOOMBA MEMORIAL FOUNDATION BALANCL SHLLI. AS AT 31 MARCH 2023 2023 2022 Note Current assets: Other debtors Cash at bank and in hand 150 344,895 393 367,899 345,045 368,292 Llabllities: Creditors.. Amounts falling due within one year (3,200) (2,675) Net Current Assets 341,845 365.617 Net Assets 341,84S 365,617 The fullds of the charity: Reslri¢led Funds Unrestricted Funds 341,845 365,617 TotAI charity funds 341,845 365,617 Approved by the Trustees on and signed on their bebalf by: _ 2 January 2024 Lord Loomba CBE (Chairtllan Trustee) The attached notes forni part of these Financial Statements. io SHRIMATI PUSHPA IVATI LOOMBA IIETrIORIAL FOLThDATION NOTES TO THE FTh AJJ CIAL STATETrIENYS FOR THE YEAR ENDED 31 MARCH 2023 Accountin Policle5 a) Basts of Preparatlo The financial statements have beenprepar￿1 in accordanceBryth Arxounling aodReporting by Clwiues.. Statement of Recommended Practice 4pplicable to charities prcpaTing their accounts in acc4)rdallce with the Financial Reporting Stand￿d applicable in the UK and Republic oflreland (FRS 102) (effective l Jw20151- (Charitie8 SORP FRS 102). Assets and liabilities are initiallyrew1s￿￿hIStOricaI c4JStortrnosactionvalue unless Od￿lSe sta￿d in the relevant aecouniing policy ornote. b) Pllblle benefit entlty The eharitable eon)pany meets the definition of apublic bertefit entity undcrFRS 102. c) Going Concern The tn￿ wnsider that there are no materlal ￿￿ena￿tte8 about tbe charitable ability to continue as a going concern. Key judgements that the chariiy has made which have a s(gnifify￿t effeet on the aecounts include e8timating the liabtlity from multi-yeargran¢¢oJJuuilments. The trus*es donotconsiderthatthere are anysource8of e8tiJnation uncertain¢y at the reporting date tha¢ have a significant risk of causing a material adjustment to the arying amounts of a￿t5 and liabilities vrithill the next r¢porting period. d) Income Income is recogtiÉsed when the charity has eniidement ￿ the fimds. any perfO￿￿llee condition8 8tto¢h¢d to the income havebeen niet, li is probable that the income bereceivedand thattheamount eanbemeasuttd reliably. Income from goi"ernment and oiher grants, wh¢theF 'capithl' grants L>r'revenue' gr￿tI, is recognised when the charity entidementto ihe funds, anyperfornian¢e ¢onth'iions attsched￿ thegrants havebeenme¢ it is probable that the income will b¢ re¢¢iN'ed and the amount can be meawred reliably and is ttot defened. Forlegacies: entitlement is taken as thecgrlierofthcdate on whicb either. the¢hati¢y is awa￿ tbatprobatth&4been granted, the ￿LI1e lJa8 been finalised and notification h&s been ￿￿de by the executorfs) to Gharity that a distribution ￿ll11be tnade, orwhenadistribution is receiN'ed frorn the estate. Receipi of a legacy, inwhole orinparu is only considered probable when the a[[LOU￿ can be measured reliably and the ¢harity has beern notified of the executor's infvtiou to a distribution. Wberelegacie5 have beennotifiedto d￿CharIty0rtht¢h￿rity1S awareof the gr￿ting of probate, 2nd the criteria for It￿O[￿e recoguition have noÈ been met: then the legacy is a tyeated &8 a coniingenr ￿et and disclos￿ if llLaknEal. tncome reCeI￿rd in advance of the provision of a Specified seryice is deferred until the criteria for income recognition ate met. el Dolladony Of glfts, Servlces facllldes Donated profe$sional gervieegand donated facilities a￿ wised ag itLcomewhen the charityhas cotttrol ovcrth¢ item or rCcel￿ed the serviee, #ny conditiolls 8&sociated M4th tbe donation have I￿en MCL the re£eipt of econorni benefit frorn the use by the chariry of the item is probable alld thAt eCOno￿tC bcnefit wi be mc88urcd rcliably. tn accordattce with the Charities SORP (FRS 102). volunteer time is not rt¢ognised so rcfcr to thc twstc£s' anTLual rewrt for more infomiation about tbeircolltribution. On receipi donated gift4 Prof￿)10nal s¢rn'ices and dollated facilities are reCogn￿edonthtb￿s1S of the value of the gift to the ¢barityw￿¢h 1$ theatDountthe¢harityMvuldhaY¢ been wiIlintr to pay to Obta￿ serrices or facih"tk&% of equii2lettt economic b¢n¢fit on the open market; A cotte4)ondiug amount is then teco8Tllsed in expendiojre itt the period of receipt. fj Interest recelvable Intertrst on bjnds held on dqx)sit is included when receii'able and the #I￿ount call be *li8bly by the chaTity' this is nonllally upon noiification of the ioteffsi paid or payable by the ballk. SI1R[￿£￿TI PUSIIPA ATI LOOMBA NIEmOR￿L FoIr￿DATION NOTEI S TO THE FIYANCIAL STATLIIENTS FOR THE YFAR F,P4DF.D 31 MIKRCH 2023 Aeeountin Polltle8 olltlllued g) Fund aeeollntlllE Restricted funds are to be used for specific Purpo￿ as jaid down by the donor. Expenth"ture which meets these criteria is charged to the fimd. Unre8tricled ￿rtdS are donatsons and other In￿ming resource8 rwxlV￿ orgenerated for the charitable PUTPO8es. D&8ionated ￿ndS are unrestricted fimd5 earn?ar￿1 by the trustees for particular purp)se& ) ExpeDditllr¢ alld irrecoYer4ble VAT Exp¢nth'ture 18 re￿gniSed oac¢ th¢r¢ is 4 legal or coDstructiv¢ ob]i8ation to rn4k¢ a payment lo a thinl pty, it is probabl¢ that8etti¢rn￿tw￿ b¢required and the atUOUTLtof theobligatioll w be ￿￿$￿redr¢IiabIy. ExpEllditULE ts cla&8ifjed under th¢ following acuviry heading5'. Costs of raising fimds relate to the costs illcurred by the cljarity iti inducing third parties to make voluntary contributions to it. &8 well &s tbe c05t of allv aCti￿tieS with a fithdrnisitig purpose Expenditure on charitable actiTritie8 includes th¢ wsts ofd¢liv¢ring SeThi￿Sunde￿8kellt0 fiutherthewsesofthe charity and their associated support costs Other eXpenditt￿¢ rq)resents those items not falling ints) any other headillg Irye¢ov¢rable VAT is charged as a cost against the activity for which the £xpendittwe was incurred, i) Aiio¢ation of support ¢o8ts Resources expend￿ areallocatedto tlLeparticularactivitvwbcre thecostrelate5 directlyto tbat ￿tiVity. However, the c05tof overall direction aod admitLi5tration ofeachactiiity, comprisitig thestsEco8ts al￿ ov6rhead c05tsof the central tWLCtLOrt, is apportioned between raising funds and cl]aritsble activities. J) Debtor8 Trade andother debtors arere¢0gnis￿ at the settlement amount due afterany trth discountoffered Prepayments are Yalued at the amount pryaid net of anv trade dis¢oullts due. k) al baDk Alld in hjlld Cash at bank and cash ill hand includes ¢&sh aDd shortterr(Lbighly liquid investmeurswithashort maturity of thrEE onth6 or les5 fromthe date of acqui5itson oropellingofthedepositor Si￿1[ar ￿¢0￿￿L Cash balances exclude wy funds held oll behalf of 8ervi¢e US￿5. l) Creditors and provifjion5 Crditor8 and provisions are recogDi5ed where thecljarity ha5 a preselltobligation resulting from a pastevcnt that 11 probably result in the transfer of fullds Éo a tbird party and the a￿oUnt due to settle the obligation oatl be n]easured or estill￿ted reliably. Creditors and provisions ate nornally reeognised at tbeir settle[￿ettI amouttt after for any trade discoullts due. m) Pension% Thc Charity h&8 no pen5LOD lithilities. 12 SHIUMATI PUSHPA WATI LOOMBA MEMORtAL FOUNDATION NOTES TO TIIE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 2. Income frotn donations and legacies 2023 2022 Unrestricted fund Donations Donations- Ukrainian refugees 82,720 60,850 22,905 143,570 22,905 Income from charitable activitie5 2023 2022 Unrestricted fund Fundraising, event & project 34,931 5.795 34,931 5,795 4. lllvestment Income 2023 2022 Interest receivable- (within the UK) 3,841 490 3,841 490 5. General Don4tlon 2023 2022 The Loomba Group of Companies (TLGOC) 98,610 96,856 *See note I I regarditLg amounts included which are from related parties. 13 Illlllll 111111 1111 1111111111111111 lllllllllll 11111 11111111111111 Illllllllllllllllllll 111111 111111 11111 Illllllllll 11111111 1111 111111 giiiii .11115￿4 Is SHRIMATI PLSHPA WATI LOOMB.4 MEMORIAL FOUISTATION OTES TO THE FINL)CIAL STATEMEhTS (Conttnued) FOR THE AR EIYDED 31 TrLIRCH 2023 7. Trustees, Remuneration and Expenges None of the trustecs (or any poyons connected witEk them) received any remuneration or were reimbursed expcns&s duTing the y&gr (2022- Nil). 8. StAff Costs 2022 2021 Casual 8taff 105 105 9. Debtor5 2022 2021 tnterest receivable tncone tsx reGov¢rable 348 45 150 150 393 10. Creditors Antounts fglling dne within one year 2022 2021 Accruals 3,200 2,675 3,200 2,675 15 SHRThIATI PUSHPA WATI LOOTrIBA ￿E￿loRIAL Fou￿￿)ATION NOTES TO THE FLNAli CIAL sTATE￿NTs {Co]]tinued) FOR THE YEAR ENDED 31 MARCH 2023 I l. Movements in funds Restrieted Unrestrlcted Fulld Fund Total Balance at 31 March 2022 lucoming resources Outgoing resources 365,617 365,617 305,520 305,520 (329292) (329.292) Bilan¢e at 31 Mir¢h 2023 341,845 341,845 12. Related Partles Lord Raj LDonLba CB& a tmstee of the cELarity? is also CILaArllLan of The Loomba Group of Companies (TLGOC). During the year, TLGOC provid￿ financial a￿lS{all¢C to the chartty of £98,610 (2022- £96,856). 13. Flnanclal commltments At the balan¢e sh¢et date. the charity had no ￿tllre fmaneial cottllnitmerl￿ (2022.. £Nil). 16