Docusign Envelope ID.. CCC8E26D-DADD4EOD44BD-BE8383461DF7 REGISTERED COMPANY REGISTRATION NUMBER: 05137350 {England and Wales) CHARITY REGISTRATION NUMBER: 1105545 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEmE￿rs FOR THE YEAR ENDED 31 AUGUST 2024 FOR ISKCON FOUNDATION LIMtrED Company Limited by Guarantee Docusign Envelope ID.. CCC8E26D-DADD4EOD44BD-BE8383461DF7 ISKCON Foundation Ltd Contents Of Financial Statements Year ended 31 Augusl 2024 Pages Trustees. annual report (incorporating the directorfs report) 4t06 Accountanfs report Statement of financial activities (including income and expenditure account) Statement of financial FM)Sition Notes to the financial statements 10t014 Docusign Envelope ID.. CCC8E26D-DADD4EOD44BD-BE8383461DF7 ISKCON Foundation Ltd Trustees. Annual Report {Incorporatlng the Dlrectorfs Report) Year ended 31 August 2024 The Trustees, who are abo directc￿$ of ￿ charitat4e o)mpany for the purposes ofthe CompanEs Ad 20CE, present their annual report and the finanual ststements for the peri¢yJ ended 31 August 2024, which are also prepared to m￿1 the requirements fora Diredo¢s report and ac(r)urts fr)r C(Thpanies Art purF)oses. The Iinawal slatwnents have teen prepared in acts)rdan￿ wth am)unb"ng ￿l￿e$ sel out in note 3 to the accounts and ccmpty with IIE chariils Constitution, the Ccthpan￿s Act 2(M)6 and RepottrKJ by Charibes.. StatenEnt of Rec￿n￿￿der1 Prac￿.￿ appkabk in the UK and Republ￿ of Ireland IFRS 1021. Reference and administrative details Registered charity name ISKCON FrAJfKJathcm Ltd Charity registration number 1105545 Company registration number 05137350 Principal Offi￿ and registered offi Bhaktivedenta Manor Dharam Marg Hilfiekl Lane Aldenham Watford Hertfordshire WD25 8EZ The trustees Mr. D K Shah Miss N Pankhania Dr S S Mehta Cc*mpany secretary Mr. Dhruva-Kusa Shah Accountant STERLING YOUNG LIMITED Suite 50,238 Merton High Street wimb￿0￿ London SW19 1AU Docusign Envelope ID.. CCC8E26D-DADD4EOD44BD-BE8383461DF7 ISKCON Foundation Ltd Trustees. Annual Report (Incorporating the Directorfs Report) (continued) Year ended 31 August 2024 Structure, governance and management The thanty is a registered chanty arKJ is contrcAled by its goveming dr￿urnent. a Memorandum and Arb￿8 of Assooab"on, and consbtutes a c£*mpany limrted by guawtee, as thfined by CompanEs Act 20CE, which d￿S not have a share capital. The directors therefore do not have any finaTh￿l lite￿1 in the C£￿panY nor are there any sgnrficant contracts in whth they have a rnat￿￿ irrtere Recruitment and appointment of new trustees Trustees are ap￿in￿l attr* amua ￿r*raI m*b"ro in acttydartevth the thaWsgov8niThJ documents and are selected on the basis of their knowledge and expe[len￿. All trustees U￿j*ke appyopriate trainirYJ tdevant to theirFX)sthon on the board. The directors who seNed during the year and Sin￿ the year*nd are set OLrt on page 1. The directors who are also trustees rn￿l regularly to discuss the affairs of the charity and to assess and approve grant applications, rf any, through a Disth"bution Commrtlee, which has been eStalls￿ to SU￿r￿lse donatrJr6 ofts tharty. Risk Management The trustees regulaty monitor the chanty's fvnc*#)rs to assess any risks that may arise and take steps to mitwate thern. The trustees consKJer the main risks to be Main risks woukl be finanrjal rth Idependency on donations} and Q￿rats.0naI Idependency vdunteers}. OBJECTIVES AND ACTIVITIES FOR THE PUBLIC Benefit. Objectives and aims The objects of the charity are to advance. trdnsmit spread and propagate the religion of Hinduism, as reveakd in the teachings of the Hindu scriptures, specthcally Bhagvad Grta and Shnmad Bh33vatam, and the doctnnes of and (tservan￿ that serve to promote a￿1 manrfestthe saKI religion and in frjtheran￿ of this ct)jec* but not othetwi%e, the tharity shall have the ￿￿￿rs. (l) To educate the pubk in an aKdrerEss of(J)J arKI Ixc*iiote a nK)re natrjral way of lrfe (2) To build or assL%I in buikliro schools, temples, cdleges, hosprtals, hostels orother buiklings in connection with and for the advan￿rnent of the objects of the charty. arKJ to maintain, alter and improve the same incI￿1ng exLsts"ThJ tw1ky1n￿ and to and 4uip the (3) To spread, tranEmrt and propagate the teachirgs ￿ the Bha￿1 Grta. and the Shrimad Bhagvatam and dtxtiines1hat manrfestts reluKfft of HiThJutsm throLuh fdliousf0m￿ of a￿1 le￿￿s1)n (4) To wnt pu￿tsh, sdl or CaLtse to be prinbj. PLilished, sokl or. rf Ihcwht ffiL to distiibute graturtousty books, booklets, leaflets and the like for ts purFK)se ofgiving infomiab.on in regard to ts work thanty (5) To rdieve svfferirg and FX)vety as a means of expressing key tenants ofthe relvJKJn of H1￿u￿M. Public Benefit The trustees confirm that they have referred to the guidance contained in the Charity Commissionerfs general gUKlan￿ on Public Benefrt when reviewing the Trust's aim and objectives and in planning future activities. The trustees consider that the tharity's aims are demonstrabty to the public benefit. ACHIEVEMENT AND PERFORMANCE The charity has raised funds over the last year to support other projecls, including those operated by Avanti Foundation Limited. The charity has been activety involved in furthering its mission and focusing on the spread of the core teachings of the Bhagavad Gita and Srimad Bhagavatam through music Docusign Envelope ID.. CCC8E26D-DADD4EOD44BD-BE8383461DF7 ISKCON Foundation Ltd Trustees. Annual Report (Incorporating the Director's Report) (conllnuedj Year ended 31 August 2024 meditation, specifically kirtan or mantra meditation as per the charitable objectives. It was resolved to undertake these activities in the US. The Charity appointed the Bhakti Centre", based in the US, for planning and organizing the events across the US completely under the guidance of the TrLJStees and volunteers. There were five flagship concerts as well as other smaller events held successfully in the following year. Financial review The charty's affairs and activtties for the year are presented in the attached financial statements whieh show an excess of expenditures over income of £156,573{2023'. excess of expenditure over income of £ 252,2881.The balan￿$ of the unrestricted funds were £1,318,505 {2023'. £1,287,424) and the balance of the restricted ftjnds were £7.924,821 12023. £8,112,475). The chanty's adwty is noted on the sL2te￿￿￿t offinancial on page 6 ofthe &counts. RESERVES POUCY The company has a FX)licy of continualty reviewng reserves in orderto ensure that there is enough working capital to cover the next 3 years of operats"ons. Plans for future periods The charrty, as proprietor of the land and buikyings at Krishna Avanti Primary School, Harrow support the sthools actiVr(￿S. The g*(h)l i% a farth based schod whth propagates teachings in line with our charitable objects. In addition, tsustees will ￿>ntinUe to raise funds for other projects in line wilh our ctpts. Small company provisions This report has been prepared in accordan￿ the provisions applicable to companies entitled to the small 0)mpan￿$ exempb"on. The Iruslees {who are also the tirecb)rs of the chanty for the purFoses of company lawl are responsible for preparing the report of the trustees and the financial statements for each financial year, which give a true and fair view of the state of affairs of the Charitab￿ company and of the incoming resources and application of resources, induding the income and expendrture, of the chantable company for that period. In preparing these financial statements the tnjstees are required to." select suitable accountirvJ policies and then appty them consistenty," observe the methods and princip￿$ in the Charities SORP IFRS 102}', make judgements and estimates that are reasonable and prudent state whtherapplit2b￿ UK Acu￿nti￿j S￿￿la￿ls tEen f(*)V￿d, sut1.￿ to any material departures di%dosed and explained in the accounts", and epare ￿ finarkial state7￿ts C￿tern tesB un￿sS r( L% awrq)nate lo presume that the Company wll Lyjntinue in operatwJn. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any lime the financial position of the charitable c(xnpany and enable them to ensure that the accounts comply with the Ccmnpanies Act 2006. They are also responsible for safeguarding the assets of the Docusign Envelope ID.. CCC8E26D-DADD4EOD44BD-BE8383461DF7 ISKCON Foundation Ltd T￿￿tees, Annual Report Uncorporating the Directorfs Report) fcu Year ended 31 August 2024 charitsble company and hence for taking r￿￿￿3b1e steps for the preventK>n and detects"c￿ offraud and other irregularities. The trustees are responsit* for ￿ ma1ntsnan￿ and integnty ofthe o)P)Tale aThY finanryal infonnab.on induded on the Char[tab￿ company's website. LegislatK)n in the United knngdLKn goveming the preparation and dissemination of finanryal statenEnts may dfvfrcffi kgislth.on in ctrriurEdklDrE. AUDIT Under the terms of the charl1￿$ Act 2011, the company not wuiwe an audit, but it r4uire that the accounts are inderEndenty examin￿￿ corr&8porMJing report Ind￿ V￿th in accounts. The trustees, annual reFXJrtwas wro￿1 on V May 2025 and on trEha¥Of￿ tKJard oftnjstees by.. Siyned by.. $1S49OEA3A0740A. Mr. t￿ruva-Kusa Shah Chanty Secretary Docusign Envelope ID.. CCC8E26D-DADD4EOD44BD-BE8383461DF7 ISKCON Foundation Ltd Accountant's Report to the Trustees of ISKCON Foundation Ltd Year ended 31 August 2024 In orderto assistyou to fuhll yourdutEs underthe ConwniesAd 2(ffi. we have prepared foryourapproval the financial statements of the ￿)MpanY for the year ended 31 August 2024 which comprises of the St*mentof finanryal a¢tThitits linc￿ding ino)nE and expendiknre a¢￿Unt), Stslenw)t of finanoal p0S￿On, and expknatory notes from the o)mpany's aLrounts"ng re￿rdS and frorn informth.on and exp￿na￿OnS you have providgj us vthh. This report i% made SO￿tY to the board of di￿￿Or$ Ivh)o are also the trustees of the charity) of the ￿Try)any, as a body, in accordan￿ with the lems of our ￿tter of engagement. Our wort has been undertaken Sole￿ to prepare for your approval the finanaal statenEnts ofthe company, and state those Matte￿ that we have agre&1 lo state lo the board of directors of the company as a body, in this reporL To the fijl￿st exlent pemirtied by law, we do not accept or assun responsibilty to anyone otherthan the o)mpany a￿1 ts l)oard ofdire(lots as a b(Kly for our work orforthi% reporL 11 is your duty to ensure th* the o)mpany has kept a(kqu*e a(xxJunting ￿(X)rdS and to ￿epa￿ statutory finanoal statements that give a true armj fair VEW of the assets, Irabi1th5, financial poSrt￿ and financAal performan￿ of the company. You conshder that the company is exeryt from the requirerrEnt to have a statutory audit for the year ended 31 August 2024. We have not tten instruded to cary out any assuranct Servi￿ on the financial ststenEnts of the coryany. For thiq reason, we have not venfied the accurary or compkkness of the accounb'ng re￿r,￿7 1,367.45S 8.284,733 9.652,188 1.318.505 7.924.821 9.243.327 1.2B7.424 8.112,476 9.399,900 The ststement of financial activities includes all gains and losses reeognised in the year. All incomg and expendiiure derive from continuing activities. The notes on pages 10 to 14 fonn part of these financial statements. Docusign Envelope ID.. cCc8E26D￿jADD4EOD-84BD-BE8383461OF7 ISKCON Foundation Ltd ststement of Financial Position As at 31 August 2024 2024 2024 2023 2023 Fixed assets Tangible fixed assets Current assgts 12 9.195.034 9.382.687 Debtors.. due within one year Cash at bank and in hand 13 55.473 17.712 55.473 17.712 Creditors: amounts falling due within one Accruals and deferred income 7,180 500 Net currgnt assets 48,293 9,243,327 17,212 9,399.900 Totsl assets less current liabilities Net assets 9,243,327 9,399.900 Funds of the charity Restricted funds 7.924.822 8.112.475 Unrestricted funds 1.318.505 1,287.424 Total charity funds 14 9.243,327 9,399,900 FortrE year￿¥JI￿ 31 knJua2￿24tt￿ to•frcqn ￿((Ur￿lS￿477Ofts Q)npanEsAd 'reclors' tESP)nsbikns'. *xvunb"ng rew￿lS a￿1 ttE twarakn offn9rTh1&at￿￿i& (m IEhaYoftre bcBrd by Siynqd by. 6FE Dr. S S Wkhta Trust 6FEC14E143D.. Registered Company Registration Number: 05137350 (England and Wales) The notes on pages 10 to 14 forni part of these financial statements. Docusign Envelope ID.. CCC8E26D-DADD4EOD-84B[￿BE8363461OF7 ISKCON Foundation Ltd Notes to the Financial Statements Year ended 31 August 2024 General information The tharty is a prwale coryarry limrt&J by guarantee, registered in Engknd arKI wa￿ and a registered charity in England and Wales. The address of the registered office is Bhaktivedenla Manor, Dharam Marg Hilfield Lane, Aldenham, Walford, Herttordshire, Ith￿25 8EZ. Statement of compliance The finan￿al state￿￿￿ts have been prepared in 0)Mplian￿ wth Ac￿Unb.rffJ and RepDrb"ng by CharrtEs.' Statement of Reo)nTrnded PraCt￿e aP￿Icable to chanb.es Preparing their accounts in accordan￿ wrth the Finanaal Reporb"ng Standard appl￿b￿ in the UKand Republic of Ireland IFRS 1021 Charities SORP {FRS 10211. the Financial Reporting Stsndard app1Kab￿ in the UK and Republ￿ of Ireland IFRS 1021 and the CompanEs Act 2006 as they appty lo the financaal statwents of the oympany for the year end￿ 31 Aug￿1 2023. 3. Accounting policies: Basis of preparation The financAal statements have tseen p￿pared on the histOriL21 LX)St baSL%. The finan￿al staterrents are prepared in sterfing, whth E the fundL)nal cJJThery Of￿ enty. The finanaal state￿Ents are presented in sterling 1£) whth is also the fvnc*onal cJJrrency of the company. The company nEets the definrbon of a public tenefit enbty under FRS 102. Going concern There are no material Ur￿rtaint￿S about the charivs abilty to continue. The thantys IntenS￿n is to utilBe ib rese￿e$ aIrr￿tt proFcts. The trustees, have assessed the d)arrtls ￿U1ren￿nts for the fores￿b￿ fl￿re and are confident that suffiaent funds will be availab￿ lo enab￿ administratwe operations to continue at a sustsinable level for a pèri(MJ of al least 12 months from the date of approval of thèse finanaal stslen￿ts. The eharity therefore conts.nues to adopt the going con￿rn basis in preparing these finanaal State￿￿nt* The finanaal statements do not indLththe adIuSt￿nts1hatwCMJ11 resdt rfthe tharty was unable to ￿ntinUe as a going 0)n￿m. Fund accounting Unrestr¥Xed funds are avalatlè for use at discTrbc¥) of the Iwuslees to ftjrfhw any of ￿ charity's purposes. Restrided funds are subjected to restn"cbJns on their eXpendrtU￿ d￿ra￿ by Ihe dor￿ orth￿igh ts ter￿ an appeal and fall into orE of gjbdasses.. restrKtsJ incorrE fijnds OT eThJowment funds. Incomg rncognition polcios All income is induded in the statement of financial *iviti"es when entrflement has passed to the charity; it is probable thatthe economic beneffts associaled ￿￿th the transaction wll flowtothe tharity and the amount can be rdiabty measured. The folkming speafic ￿l￿eS are applied to parbcular categories of income.. in(x>me from donations or grants is recognised when there is eviden￿ of entidement to the gift, receipt is probable and tis amount can be measured reliabty. legacy in(on* i% re(ognEe(I when re￿￿* is pr(1}ab￿ and entitkn￿nt is established. incwe from don*￿ is nEasured at ts fairvalue ofthe wds unkssthis iq iryracknl to measure reliabty, in whith txe Val￿ is derwl fwmn the (x)st lo the donor or the estimated resale value. Donated facilities and servi￿$ ate recDgnised in the a￿Ounts véhen rec*Ned rfthe value can reliab rrEasured. No amounts are inc)JJgJ forthe c0n1n.bJt￿ ofgeneral vdunteer5. io Docusign Envelope ID.. CCC8E26D-DADD4EOD-84B[￿BE8363461OF7 ISKCON Foundation Ltd Notes to the Financial Statements ff4wpthwth•Year ended 31 August 2024 3.Accounting policies icrxthw Inc￿ from contrats for ts suppty ofservlx is recoJnwJ vthh ts de￿ry ofthe C￿ntraded wvh2. Th is dassrfEd a8 unr&8tTh*J fvThts urkn th￿e a ccrtajual wuirerrEnt for I to te spent on a partkxLgr purpose arKJ rebjmed rf unspert in whth case ri may trE regarded as restrided. ExFwK1i￿le Expendf(uTe is recognised on an accruals basis as a liabilrty is incurred. Expendf(ure inc)Jdes anyVATwh cannot recovered, and i%dasstsJ underheadirBJsofthe statenRrtoffinanaal ath"vrtEs towhth f( reLates'. athities, and the sak ofdonated goods. expenditure on charitable aclivilies indudes all costs incurred by a charily in undertaking that ftIrtfr￿r its thartab￿ atrs for Ihe trEneft of ts tr￿￿13r￿s. induding those SUPFM)rt ujsls and costs relating to the govemanct ofthe thaiity apportioned to tharrtab￿ ac*vrtes. other extttyliture inthdes al exteKlthrethat 6 neilw retsbj to ra6i)gfvnds trthe charity nor part of ts ex￿nditure on Charitab￿ athites. All costs are albcated lo expendrture categories refleding the use ofthe resou￿. Direct cc6ts a#￿Utat& to a Sing￿ a(XNty ate ab2ted ditedty lo that a(*viy. sha￿ o)sts a￿ apportion￿4 ￿tween the acbvi(ies they contribute lo on a reasonab￿, justsfiablè and ts)nsts￿ bas& Tangible assets Tangib￿aSsets a￿ inthlty wy)rded ato)sL and gJbsequentystat8J atcost less anya1￿mulat8J depreaabon and 1rrpa1r￿￿nI k)sse& Any tangib￿ assets camed at reva￿ed amounts are recorded at the fair value at the date of revaluation ￿sS any subsequent acC￿n￿lated ¢*preJabon and sut64uent accunwLabJ impair￿Ent An in1ye￿ in t3nyTYJ aN￿UntOfan as*t asa ofa rwaknats)n. s rew)wl in other recogni￿ gains and losses, un￿sS f( reve￿ a charge for inyaimEnt that has prevh)usly LEen [BO￿nIsed as expendrtur wrthin the statement offinancial admbes. A (knEase caThyTVJ awKNJrrt ofan a￿tasa rewtcé Evaluat￿,. r￿n￿j notrErrecognised gains and losses. excwtto itoffsets any preV￿uS revaluation gain, inwhich case shovm wthin other reoyJniqeAI gans bSSeS￿ the Stat￿nt off￿CIal acthitEs. Deprgciation DepE0ati.t￿ i% so astobwle off ts ¢xtst¢yvakotK)n ofan asseL kn Is resKlUalVak￿, overtr* useful e(onomic lrfe ofthat asset as fokh*%". Free￿jbI PAJibJrrfJ Plant& Equ4rnt Over 50 years Over 10 years The company makes estThates and assumpI￿nS ￿nCernIng the futu￿. The resu￿"ng acoJJthJ estrraÈs Lirnitgd by guarantee The corrpany i% knrted by guarantee. It has no share captsl buteath nE￿r l￿￿rtakeS, in the event ofwndrg uplo o)ntrbute up to £1 tvKardstre Costa￿ eX￿nSeS of winding up. li Docusign Envelope ID.. CCC8E26D-DADD4EOD-84BD-BE8383461DF7 ISKCON Foundation Ltd Notes to the Financial Statements (wrfin1￿￿J Year ended 31 August 2024 Donations and legacies Unrestrieted Fund Totsl Funds 2024 Tolal Funds 2023 Unrestricted Fund Donations Donations 49.￿]1 49.IJ01 569 569 Expenditure on charitable activities by fund type Support costs Unrestricted Funds Restricted Fund Totsl Fund 2024 205,574 17.920 187.654 Support costs Unrestricted Funds Restricted Fund Total Fund 2024 80,600 172,258 252,858 Expanditurg on charitablg activitie$ by activity type Support Tolal funds Total funds 2024 2023 Governan￿ casts 205.574 205,574 252,858 Ngt Expgnditure Net expenditure is stated after chargingllcrediting).. 2024 2023 Depreciation of tangible fixed assets 187,654 172.258 AccountantsllTrdepeDdent examination fees 2024 2023 Fees payable lo the accountsnVindeperKlent examiner 1,500 500 10. Staff Costs The charity did not have any employees during the year. The average head count induding DireL#ors during the year was 3 {2023-.31. These are all Trustees of the Charriy. 11. Trustoe rernuneration and expenses No remuneratrjn or other benefils frcffl the tharty or a rekted enty were recewed by the trustees.12023.' None) 12 Docusign Envelope ID.. CCC8E26D￿ADD4EOt￿84BD-BE838346lDF7 ISKCON Foundation Ltd Notes lo the Financial Statements (contlnued) Year ended 31 August 2024 12. Tangible Assets Freehold property Equipment Total Cost At 1 September 2023 and 31 August 2024 Depreciation Al September 2023 Charge for the year At 31 August 2024 Carrying arnount At 31 August 2024 At 31 August 2023 11,792,882 1,687,873 13,480,755 2,410,194 187,654 2,597,848 1,687,873 4,098,067 187,654 2,597,848 9.195,034 9,382,686 9,195,034 9,382,686 13. Debtors 2024 2023 Debtors f811ing due within one year are as follows". Prepayments and accrued income 14. Analysis of charitable funds At1 September 2023 Net movement in fvnds At 31 August 2024 Funds Unrestricted Restricted 1.287,424 8.112,475 9.399,900 1,318,505 7,924,821 9,243,327 156,573 Net movement in funds. included in the above. are as follows. Income Expenditure Movement Funds Unrestricted funds Restricted funds TOTAL FUNDS 49,001 117,9201 (187.6541 1205,5741 31.081 1187,6541 1156,573) 49.001 13 Docusign Envelope ID.. cCC8E26D￿ADD4EoD-84BD-BE8383461OF7 ISKCON Foundation Ltd Notes to the Financial Statements (contlnued) Year ended 31 August 2024 15. Analysis of net assets between funds Totsl Fund 2023 Unrestricted Restricled Funds Fund Unrestricted Restricted Funds Fund Total Fund 2024 Tangible fixed assets Current assets Creditors 1,270,212 17.712 500 1.287,424 .112.475 9.382,687 17.712 500 8,112,475 9.399.900 1.270,212 55.473 17,180 1,318,505 7,924,822 9,195,034 55,473 7,180 9,243.327 7,924,822 16. RELATED PARTY DISCLOSURES There ￿tre no rekted party tsansa¢thns in the year, norvoEre any rrKJnEs owing to or from any related paty as at 31 August 2024 (2023: ￿)ne). During the year the twstees donat8J £nil12023." £nil) to the thaiity. 14