Docusign Envelope ID: C0A10D73-6D99-8781-835E-E96DB5DE4035
ISKCON Foundation Ltd
REGISTERED COMPANY REGISTRATION NUMBER: 05137350 (England and Wales) CHARITY REGISTRATION NUMBER: 1105545
ISKCON FOUNDATION LIMITED
Company Limited by Guarantee
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
1
Docusign Envelope ID: C0A10D73-6D99-8781-835E-E96DB5DE4035
ISKCON Foundation Ltd
Contents of Financial Statements
Year ended 31 August 2025
| Pages | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 3 to 6 |
| Independent examiner's report | 7 |
| Statement of financial activities (including income and expenditure | |
| account) | 8 |
| Statement of financial position | 9 |
| Notes to the financial statements | 10 to 14 |
2
Docusign Envelope ID: C0A10D73-6D99-8781-835E-E96DB5DE4035
ISKCON Foundation Ltd
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 August 2025
The Trustees, who are also directors of the charitable company for the purposes of the Companies Act 2006, present their annual report and the financial statements for the period ended 31 August 2025, which are also prepared to meet the requirements for a Director's report and accounts for Companies Act purposes.
The financial statements have been prepared in accordance with the accounting policies set out in note 3 to the accounts and comply with the charity's Constitution, the Companies Act 2006 and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS 102 Section 1A).
Reference and administrative details
Registered charity name ISKCON Foundation Ltd Charity registration number 1105545 Company registration number 05137350 Principal office and registered office Bhaktivedanta Manor Dharam Marg Hilfield Lane Aldenham Watford Hertfordshire WD25 8EZ The trustees Mr. Dhruva-Kusa Shah Miss Neha Pankhania Dr Shyam Subhashchandra Mehta Charity secretary Mr. Dhruva-Kusa Shah Independent Examiner STERLING YOUNG LIMITED Suite 50,238 Merton High Street Wimbledon London SW19 1AU
3
Docusign Envelope ID: C0A10D73-6D99-8781-835E-E96DB5DE4035
ISKCON Foundation Ltd
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2025
Structure, governance and management
The charity is a registered charity and is controlled by its governing document, a Memorandum and Articles of Association, and constitutes a company limited by guarantee, as defined by the Companies Act 2006, which does not have a share capital. The directors therefore do not have any financial interest in the company, nor are there any significant contracts in which they have a material interest.
Recruitment and appointment of new trustees
Trustees are appointed at the annual general meeting in accordance with the charity's governing documents and are selected on the basis of their knowledge and experience. All trustees undertake appropriate training relevant to their position on the board.
The directors who served during the year and since the year-end are set out on page 3. The directors who are also trustees meet regularly to discuss the affairs of the charity and to assess and approve grant applications, if any, through a Distribution Committee, which has been established to supervise donations of the charity.
Risk Management
The trustees regularly monitor the charity's functions to assess any risks that may arise and take steps to mitigate them. The trustees consider the main risks to be Main risks would be financial risks (dependency on donations) and operational (dependency on volunteers).
OBJECTIVES AND ACTIVITIES FOR THE PUBLIC
Benefits, Objectives and aims
The objects of the charity are to advance, transmit, spread and propagate the religion of Hinduism, as revealed in the teachings of the Hindu scriptures, specifically Bhagavad Gita and Srimad Bhagavatam, and the doctrines of and observances that serve to promote and manifest the said religion and in furtherance of this object but not otherwise, the charity shall have the following powers :
-
(1) To educate the public generally in an awareness of God and promote a simpler and more natural way of life
-
(2) To build or assist in building schools, temples, colleges, hospitals, hostels or other buildings in connection with and for the advancement of the objects of the charity, and to maintain, alter and improve the same including existing buildings and to furnish and equip the same
-
(3) To spread, transmit and propagate the teachings of the Bhagavad Gita, and the Srimad Bhagavatam and the doctrines that manifest the religion of Hinduism through various forms of media and television
-
(4) To print publish, sell or cause to be printed, published, sold or, if thought fit, to distribute gratuitously books, booklets, leaflets and the like for the purpose of giving information in regard to the work of the charity
-
(5) To relieve suffering and poverty as a means of expressing key tenet of the religion of Hinduism.
Public Benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commissioner's general guidance on Public Benefit when reviewing the Trust's aim and objectives and in planning future activities. The trustees consider that the charity's aims are demonstrably to the public benefit .
ACHIEVEMENT AND PERFORMANCE
The charity has raised funds over the last year to support other projects, including those operated by Avanti Foundation Limited. The charity has been actively involved in furthering its mission and focusing on the spread of the core teachings of the Bhagavad Gita and Srimad Bhagavatam through music, meditation,
4
Docusign Envelope ID: C0A10D73-6D99-8781-835E-E96DB5DE4035
ISKCON Foundation Ltd
Trustees' Annual Report (Incorporating the Director's Report) (continued) Year ended 31 August 2025
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 Trustees and volunteers.
There were five flagship concerts, together with a number of smaller events, which were successfully held during the year.
Financial review
The charity's affairs and activities for the year are presented in the attached financial statements which show an excess of expenditure over income of £229,565 (2024: excess of expenditure over income of £156,573). The balances of the unrestricted funds were £1,272,841 (2024: £1,318,505) and the balance of the restricted funds were £7,740,921 (2024: £7,924,822).
The charity's activity is noted on the statement of financial activity on page 8 of the accounts.
RESERVES POLICY
The company has a policy of continually reviewing reserves in order to ensure that there is enough working capital to cove the next 3 years of operations .
Plans for future periods
The charity, as proprietor of the land and buildings at Krishna Avanti Primary School, Harrow support the schools activities. The school is a faith based school which propagates teachings in line with our charitable objects. In addition, trustees will continue to raise funds for other projects in line with our objects.
Small company provisions
Small companies regime under Companies Act 2006 has been applied where permitted.
STATEMENT OF DIRECTOR’S RESPONSIBILITIES
The trustees (who are also the Directors of the charity for the purposes of company law) 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP (FRS 102);
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and
-
Prepare the financial statements on the going concern basis unless it is appropriate to presume that the company will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
5
Docusign Envelope ID: C0A10D73-6D99-8781-835E-E96DB5DE4035
ISKCON Foundation Ltd
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2025
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Independent Examination
The charity is entitled to exemption from audit under the provisions of the Companies Act 2006 relating to small companies.
Under the Charities Act 2011, The charity is eligible for independent examination and, accordingly, the accounts have been subject to independent examination rather than statutory audit.
The independent examiner’s report is included within these financial statements.
The trustees' annual report was approved on 15[th] May 2026 and signed on behalf of the board of trustees by:
Mr. Dhruva-Kusa Shah Trustee
6
Docusign Envelope ID: C0A10D73-6D99-8781-835E-E96DB5DE4035
ISKCON Foundation Ltd
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF ISKCON FOUNDATION LIMITED
I report to the trustees on my examination of the financial statements of ISKCON Foundation Limited (“the charity”) for the year ended 31 August 2025.
Responsibilities and basis of report
As the charity trustees, who are also directors for the purposes of company law, you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of your company’s accounts carried out under section 145 of the Charities Act 2011.
In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept as required by section 386 of the Companies Act 2006; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Companies Act 2006 other than any requirement that the accounts give a “true and fair view”, which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 Section 1A).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Shoolin Girishkumar Yagnik FCCA For and on behalf of STERLING YOUNG LIMITED Suite 50, 238 Merton High Street Wimbledon London SW19 1AU
Date:15 May 2026
7
Docusign Envelope ID: C0A10D73-6D99-8781-835E-E96DB5DE4035
ISKCON Foundation Ltd
Statement of Financial Activities (including income and expenditure account)
Year ended 31 August 2025
| Note Income and endowments Donations and legacies 5 Total income Expenditure Expenditure on charitable activities 6,7 Total expenditure Net expenditure and net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted Funds Restricted 2025 Unrestricted Funds Restricted 2024 funds Total funds funds Total funds £ £ £ £ £ £ 38,692 - 38,692 49,001 - 49,001 |
|---|---|
| 38,692 - 38,692 49,001 - 49,001 |
|
| 84,356 183,901 268,257 17,920 187,654 205,574 |
|
| 84,356 183,901 268,257 17,920 187,654 205,574 |
|
| -45,664 -183,901 -229,565 31,081 -187,654 -156,573 |
|
| 1,318,505 7,924,822 9,243,327 1,287,424 8,112,475 9,399,900 1,272,841 7,740,921 9,013,762 1,318,505 7,924,822 9,243,327 |
The notes on pages 10 to 14 form part of these financial statements.
8
Docusign Envelope ID: C0A10D73-6D99-8781-835E-E96DB5DE4035
ISKCON Foundation Ltd
Statement of Financial Position
As at 31 August 2025
| Notes Fixed assets Tangible fixed assets 12 Current assets Debtors: due within one year 13 Cash at bank and in hand Creditors: amounts falling due within one year Accruals and deferred income Net current assets Total assets less current liabilities Net assets Funds of the charity Restricted funds Unrestricted funds Total charity funds 14 |
2025 £ 6,764 |
2025 £ 9,011,133 2,629 |
2024 £ 55,473 |
2024 £ 9,195,034 48,293 |
|---|---|---|---|---|
| 6,764 4,135 |
55,473 7,180 |
|||
| 9,013,762 | 9,243,327 | |||
| 9,013,762 | 9,243,327 | |||
| 7,740,921 1,272,841 9,013,762 |
7,924,822 1,318,505 9,243,327 |
For the year ending 31 August 2025, the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorized for issue on 15 May 2026, and are signed on behalf of the board by:
The notes on pages 10 to 14 form part of these financial statements.
9
Docusign Envelope ID: C0A10D73-6D99-8781-835E-E96DB5DE4035
ISKCON Foundation Ltd
Notes to the Financial Statements
Year ended 31 August 2025
1. General information
The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Bhaktivedanta Manor, Dharam Marg Hilfield Lane, Aldenham, Watford, Hertfordshire, WD25 8EZ.
2. Statemen t of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), including the provisions applicable to small entities under Section 1A, and the Companies Act 2006.
3. Accounting policies :
Basis of preparation
The financial statements have been prepared on a historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
The financial statements are presented in sterling (£) which is also the functional currency of the company.
The company meets the definition of a public benefit entity under FRS 102 Section 1A.
Going concern
There are no material uncertainties about the charity's ability to continue. The charity's intention is to utilise its reserves for the current projects.
The trustees' have assessed the charity's requirements for the foreseeable future and are confident that sufficient funds will be available to enable administrative operations to continue at a sustainable level for a period of at least 12 months from the date of approval of these financial statements. The charity therefore continues to adopt the going concern basis in preparing these financial statements. The financial statements do not include the adjustments that would result if the charity was unable to continue as a going concern.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Restricted funds are subject to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two subclasses: restricted income funds or endowment funds.
Income recognition policies
All income is included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
10
Docusign Envelope ID: C0A10D73-6D99-8781-835E-E96DB5DE4035
ISKCON Foundation Ltd
Notes to the Financial Statements (continued)
Year ended 31 August 2025
3.Accounting policies (continued)
- Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Expenditure
Expenditure is recognised on an accruals basis as liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable, and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Building - Over 50 years Plant & Equipment - Over 10 years
Critical accounting estimates and areas of judgement
Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions can, therefore, potentially be different from the related actual results.
In the opinion of the directors, there is no specific key judgements or areas of estimates to disclose.
11
Docusign Envelope ID: C0A10D73-6D99-8781-835E-E96DB5DE4035
ISKCON Foundation Ltd
Notes to the Financial Statements (continued)
Year ended 31 August 2025
4. Limited by guarantee
The company is limited by guarantee. It has no share capital but each member undertakes, in the event of winding up to contribute up to £1 towards the cost and expenses of winding up.
5. Donations and legacies
| Unrestricted Fund |
Total Funds 2025 |
Unrestricted Fund |
Total Funds 2024 |
|
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | 38,692 | 38,692 | 49,001 | 49,001 |
6. Expenditure on charitable activities by fund type
| Unrestricted Funds |
Restricted Fund |
Total Fund 2025 |
Unrestricted Funds |
Restricted Fund |
Total Fund 2024 |
|
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | £ | |
| Charitable activities |
84,356 | 183,901 | 268,257 | 17,920 | 187,654 | 205,574 |
7. Expenditure on charitable activities by activity type
| Activity | Other charitable costs |
Support costs |
Total funds 2025 | Total funds 2024 |
|---|---|---|---|---|
| Charitable activities | 84,356 | 183,901 | 268,257 | 205,574 |
| Total | 84,356 | 183,901 | 268,257 | 205,574 |
| 8. Net Expenditure | ||||
| Net expenditure | is stated after charging/(crediting): | 2025 | 2024 | |
| £ | £ | |||
| Depreciation of tangible fixed assets | 183,901 | 187,654 | ||
| 9. Independent examination fees | ||||
| 2025 | 2024 | |||
| £ | £ | |||
| Fees payable to the | independent examiner | 2,135 | 1,500 |
1 0 . S t a f f co s t s
The charity did not have any employees during the year.
The average head count including Directors during the year was 3 (2024:3). These are all Trustees of Charity.
12
Docusign Envelope ID: C0A10D73-6D99-8781-835E-E96DB5DE4035
ISKCON Foundation Ltd
Notes to the Financial Statements (continued)
Year ended 31 August 2025
11. Tru stee rem uneration and expenses
No remuneration or other benefits from the charity or a related entity were received by the trustees. (2024: None)
12. Tangible Assets
| Cost At 1 September 2024 and 31 August 2025 Depreciation At September 2024 Charge for the year At 31 August 2025 Carrying amount At 31 August 2024 At 31 August 2025 |
Freehold property Equipment Total £ £ £ 11,792,882 1,687,873 13,480,755 |
|---|---|
| 2,597,848 1,687,873 4,285,721 183,901 - 183,901 |
|
| 2,781,749 1,687,873 4,469,622 |
|
| 9,195,034 - 9,195,034 |
|
| 9,011,133 - 9,011,133 |
13. Debtors
| 2025 | 2024 | |
|---|---|---|
| Debtors falling due within one year are as follows: | £ | £ |
| Prepayments and accrued income | Nil | NIL |
14. Analysis of charitable funds
| Funds Unrestricted Restricted |
At 1 September 2024 Net movement in funds At 31 August 2025 £ £ £ 1,318,505 (45,664) 1,272,841 7,924,822 (183,901) 7,740,921 |
|---|---|
| 9,243,327 (229,565) 9,013,762 |
- Restricted fund representing land and buildings used in delivering the charity’s activities.
13
Docusign Envelope ID: C0A10D73-6D99-8781-835E-E96DB5DE4035
ISKCON Foundation Ltd
Notes to the Financial Statements (continued)
Year ended 31 August 2025
Net movement in funds, included in the above, are as follows.
| Income | Expenditure | Movement | |
|---|---|---|---|
| £ | £ | £ | |
| Funds | |||
| Unrestricted funds | 38,692 | (84,356) | (45,664) |
| Restricted funds | - | (183,901) | (183,901) |
| TOTAL FUNDS |
38,692 | (268,257) | (229,565) |
15. Analysis of net assets between funds
| Tangible fixed assets Current assets Creditors |
Unrestricted Funds Restricted Fund Total Fund 2025 1,270,212 7,740,921 9,011,133 6,764 - 6,764 -4,135 - -4,135 1,272,841 7,740,921 9,013,762 |
Unrestricted Funds Restricted Fund Total Fund 2024 1,270,212 9,195,034 7,924,822 55,473 - 55,473 -7,180 - -7,180 |
|---|---|---|
| 1,318,505 7,924,822 9,243,327 |
16. RELATED PARTY DISCLOSURES
There were no related party transactions in the year, nor were any monies owing to or from any related party as at 31 August 2025 (2024: None).
During the year the trustees donated £nil (2024: £nil) to charity.
14