Registered number: 05225251
Charity number: 1107793
THE SHANTA FOUNDATION
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

THE SHANTA FOUNDATION
CONTENTS
Page
Reference and Administrative Details of the Charity, its Trustees and Advisers
Trustees. Report
Independent Examiner's Report
Statement of Financial Activities
Balan￿ Sheet
9-10
Notes to the Financial Ststements

THE SHANTA FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
B C Patel
V C Patel
Company registered
number
05225251
Charity registered
number
ll07793
Registered office
Monarch House
Miles Gray Road
Essex
SS14 3RW
Company secretary
Vistra Company Secretaries Limited
Accountants
Evelyn Partners LLP
Stonecross
Trumpington High Street
Cambridge
CB2 gsu
Independent examiner
Keir Singleton
CLA Evelyn Partners Limited
Stonecross
Trumpington High Street
Cambridge
CB2 9SU
Page I

THE SHANTA FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report together with the financial statements of the Charity for the year I
April 2023 to 31 March 2024. The Annual Report serves the purposes of both a Trustees, report and a
directors, report under company Law. The Trustees confirm that the Annual Report and financial statements
of the charitabLe company comply with the current statutory requirements, the requirements of the
charitable company's governing document and the provisions of the Statement of Recommended Practice
ISORPI applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS1021 leffective l January 20191.
Since the Charity qualifies as smalL under section 382 of the Companies Act 2006, the Strategic Report
required of medium and Large companies under the Companies Act 2006 (Strategic Report and Directors,
Report) Regulations 2013 has been omitted.
Objectives and activlties
a. p0￿cleS and objectives
The objectives of the charity are to further such charitable purposes as the trustess in their absolute
discretion may from time to time decide. to help in the advancement of education, the relief of poverty,
sickness and distress and the preservation and protection of health, primarily but not exclusively through
the provision of grants.
In setting objectives and planning for activities. the Trustees have given due consideration to general
guidance published by the Charity Commission relating to public benefit, including the guidance 'PubLic
benefit.. running a charity IPB2)'.
Achievements and performance
a Main achievements of the Charity
The main achievements in the period was receiving donations totalling £253,732. During the year the Shanta
Foundation has donated £75,000 to the TribaL Integrated Development and Education Trust. £52,146 to the
British Heart Foundation, £IO.000 to the University ColLege London. £3.500 to the Lions Club of Enfield and
£2.500 to Bobby's Big Heart and committed to donation a further £102,467 to the British Heart foundation
untiL JULY 2025.
Flnancial review
a. Princlpal source of funding
The principal funding source, being Waymade Capital Limited - the company in which the trustees of The
Shanta Foundation have controlling interests. has donated generously in previous periods to enable the
charity to commence its charitable activities.
b, Going concern
After making appropriate enquiries. the Trustees have a reasonable expectation that the Charity has
adequate resources to continue in operational existence for the foreseeable future. For this reason. they
continue to adopt the going concern basis in preparing the financiaL statements.
Page 2

THE SHANTA FOUNDATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
c. Reserves policy
The charity has decided to adopt a zero Level reserves policy, therefore charity will spend alL their income
receive in each year on their charitable activities. The trustees have considered the risks of having a zero
level reserve policy and have determined they have adaquete controls to mitigate the risk.
At the end of the year the Company had positive reserves of £1,959 12023 £5061. All funds were
unrestricted.
d. Plans for future periods
It is the intentions of the trustees to continue to make donations in the future. where they see fit.
Structure, governance and management
. Reference and administrative detaiLs
The registered charity name is The Shanta Foundation. The charity registration number is 1107793. The
principaL office is Monarch House. Miles Gray Road, Essex, SS14 3RW.
b. Constitution
The principal activity of the company was that of a charity. The organisation is a charitsble company limited
by guarantee, incorporated on 8 September 2004. company registration number 05225251 IEngland and
WaLesl and registered as a charity on 25 January 2005. charity registration number 1107793 (England and
WaLesl. The company was established under a Memorandum of Association which established the
objectives and powers of the charitable company and is governed under its Articles of Association.
In the event of the company being wound up, the liability in respect of the guarantee is limited with the
members. being the two trustees and directors of the company, recquired to contribute an amount not
exceeding £10.
c. Trustees
The Trustees, who are also the directors for the purpose of company law. and who served during the year
were..
B C PateL
V C Patel
N B PateL (resigned 29 August 20231
d. Trustee inductiopn and training
New trustees undergo an orientation day to brief them on their legal obligations under charity and company
Law, the content of the Memorandum and Articles of Association, the committee and decision making
processes, the business pian and recent financiaL performance of the charity. During the induction day they
meet key employees and other trustees. Trustees are encouraged to attend appropriate external training
events where these will facilitate the undertaking of their role.
Page 3

THE SHANTA FOUNDATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
structure. governance and management (continued)
e. Risk management
The Trustees have a risk management strategy which comprises..
An annual review of the risks the charity may face.,
The estabLishment of systems and procedures to mitigate those risks identified in the plan.. and
The implementation of procedures designed to minimise and potential impact on the charity should
those risks materialise
This work has identified only a few minor new risks but it has resulted in better emergency procedures
and contingency plans and has given the impetus for better planning. Particular attention has focused
on non financial risks arising from fire, health and safety. A key element in the management of financial
risks is the setting of a reserves policy and its regular review by trustees.
statement of Trustees, resp0nslb1￿t(eS
The Trustees (who are also the directors of the Charity for the purposes of company lawl are responsible for
preparing the Trustees, Report and the financial statements in accordance with applicable Law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company
Law, the Trustees must not approve the financial statements unless they are satisfied that they give a true
and fair view of the state of affairs of the Charity and of its incoming resources and application of resources,
incLuding its income and expenditure, 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 of the Charities SORP IFRS 1021.,
make judgments and accounting estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards IFRS 1021 have been folLowed, subject to any
material departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the Charity wilL continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and
explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of
the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006.
They are also responsibLe for safeguarding the assets of the Charity and hence for taking reasonable steps
for the prevention and detection of fraud and other irregularities.
Page 4

THE SHANTA FOUNDATION
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Approved by order of the members of the board of Trustees and signed on their behalf by..
te
Date,, 18
Page 5

THE SHANTA FOUNDATION
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Independent Examlner's Report to the Trustees of The Shants Foundation I'the Charity,)
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31
March 2024,
Responsibl￿tieS and Basis of Report
As the Trustees of the Charity land its directors for the purposes of company lawl you are responsible for
the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006
Act'l.
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the
2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's
accounts carried out under section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying out my
examination I have foLlowed the Directions given by the Charity Commission under section 1451511bl of the
2011 Act.
Independent Examiner's Ststement
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in
section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a
member oflenter body herè), which is one ofthe listed bodies.
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..
accounting records were not kept in respect of the Charity as required by section 386 of the 2006
Act., or
the accounts do not accord with those records.. or
the accounts do not compLy with the accounting requirements of section 396 of the 2006 Act 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 accounts have not been prepared in accordance with the methods and principles of the
statement of Recommended Practice for accounting and reporting by charities lapplicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland IFRS 10211.
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 accounts to be
reached.
Page 6

THE SHANTA FOUNDATION
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
This report is made soLeLy to the Charity's Trustees. as a body, in accordance with Part 4 of the Charities
IAccounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the
Charity's Trustees those matters l am required to state to them in an Independent Examiner's Report and for
no other purpose. To the fullest extent permitted by law. I do not accept or assume responsibility to anyone
other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed..
Keir SingLeton
Dated.. 1911212024
CLA Evelyn Partners Limited
stonecross
Trumpington High Street
Cambridge
CB2 9SU
Page 7

THE SHANTA FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted
funds
2024
TotaL
funds
2024
Total
funds
2023
Note
Income from:
Donations and legacies
253.732
253.732
137,500
Total Income
253,732
253.732
137,500
Expenditure on:
Charitable activities
252.279
252.279
191,417
Total expenditure
252,279
252.279
191417
Net movement in funds
1,453
1.453
f53,91
Reconciliation of funds:
TotaL funds brought fO￿ard
Net movement in funds
506
1.453
506
54,423
(53,917)
1.453
Total funds carried forward
1,959
1.959
506
The Statement of FinanciaL Activities includes all gains and losses recognised in the year.
The notes on pages ll to 16 form part of these financiaL statements.
Page 8

THE SHANTA FOUNDATION
REGISTERED NUMBER: 05225251
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
Current assets
Debtors
Cash at bank and in hand
104.292
3.254
506
107,546
506
Creditors.. amounts falling due within one
year
io
155.2661
Net current assets
52.280
506
Total assets less current ￿abl￿tIeS
52,280
506
Creditors.. amounts falling due after more
than one year
150,32
Net liabilities / assets
1.959
506
Total net assets
1.959
506
Charity funds
Restricted funds
Unrestricted funds
1,959
506
Totsl funds
1.959
506
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with
section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect
to accounting records and preparation of financial statements.
The financiaL statements have been prepared in accordance with the provisions applicable to entities
subject to the small companies regime.
Page 9

THE SHANTA FOUNDATION
REGISTERED NUMBER: 05225251
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf
by
B C Patel
Date.. Ig
)1
Date.. 18
KL
The notes on pages 11 to 16 form part of these financiaL statements.
Page 10

THE SHANTA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
General information
The Shanta Foundation is a charitable company limited by guarantee and incorporated in England
and Wales, company number 05225251, charity number 1107793. The registered office is Monarch
Hou*. Miles Gray Road, Basildon, Essex, SS14 3RW.
Accounting policies
2.1 Basis of preparatlon of financial statements
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021-
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 IFRS 1021 (effective l January 20191, the Financial
Rèporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies
Act 2006.
The Shanta Foundation meets the definition of a public benefit entity under FRS 102. Assets and
LiabiLities are initially recognised at historical cost or transaction value unless otherwise stated in
the relevant accounting policy.
2.2 Income
Income is recognised when the Charity is legally entitled 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 once the Charity has
been notified of the donation, unless performance conditions require deferral of the amount.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is
recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending
distribution. the amount is known, and receipt is expected. If the amount is not known. the legacy
is treated as a contingent asset.
2.3 Expenditure
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is classified under the headings of the statement of
financial activities to which it relates:
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.
2.4 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount
offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 11

THE SHANTA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies Icontlnuedl
2,5 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a
past event, it Is probable that a transfer of economic benefit will be required in settlement. and
the amount of the settLement can be estimated reliabLy.
Liabilities are recognised at the amount that the Charity anticipates it WILL pay to settle the debt or
the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation.
Where the effect of the time value of money is material. the provision is based on the present
value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to
the liabiLity. The unwinding of the discount is recognised in the Statement of Financial Activities
as a finance cost.
2.6 FinanciaL instruments
The Charity onLy has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their settlement value with the exception of bank loans which are
subsequentLy measured at amortised cost using the effective interest method.
2.7 Fund accounting
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their
charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The
purposes and uses of the restricted funds are set out in the notes to the financial statements.
Critical accounting estimates and areas of judgment
Accounting estimates and areas of judgment have been used in the preparation of these accounts.
Firstly n relation to the judgment that the charity is a going concern. This judgment was made based
on the charity's assets and current cash flow. Secondly in relations to the discounting of a grant. The
discount rate used has been 3.5Y.
Page 12

THE SHANTA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Income from donations and Legacies
Unrestricted
funds
2024
Total
funds
2024
Donations
253,732
253.732
Unrestricted
runds
2023
Total
funds
2023
Donations
137.500
137,500
Analysis of grants
Grants to
Institutions
2024
TotaL
funds
2024
Grants
245,613
245.613
Grants to
Institutions
2023
Total
funds
2023
Grants
189,950
189,950
Analysis of expenditure by actlvities
Grant
funding of
activities
2024
Support
Totsl
funds
2024
2024
Direct costs
245,613
6,666
252.279
Page 13

THE SHANTA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of expenditure by activities (continued)
Grant
Support
costs
2023
Total
runds
2023
activities
2023
Direct costs
189,g50
1.467
191.417
AnaLysis of support costs
Totsl
funds
2024
Activities
2024
Bank charges
Accountancy fees
Professional fees
5,904
744
5.904
744
6,666
6.666
Total
funds
2023
Activitie5
2023
Bank charges
Accountancy fees
Professional fees
884
884
582
582
1,467
1,467
Independent examinerfs remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £3.12012023
- £8841.
Page 14

THE SHANTA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees, remuneration and expenses
During the year. no Trustees received any remuneration or other benefits (2023- £NILJ.
During the year ended 31 March 2024, no Trustee expenses have been inCu￿ed (2023 - £NIL).
Debtors
2024
2023
Due wlthln one year
other debtors
104,292
104.292
10. Creditors.. Amounts faLLing due within one year
2024
2023
Accruals and deferred income
Grants accrued - institutional
3.120
52,146
55,266
IL Creditors: Amounts failing due after more than one year
2024
2023
Accrued grants payable to institutions
50.321
Summary of funds
Summary of funds - current year
Ba[an￿ at
31 March
2024
Balance at I
ApriL 2023
Income Expenditure
General funds
506
253.732
1252.2791
1.959
Page 15

THE SHANTA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Summary of funds Icontinued)
Summary of funds - prior year
Bolance at
31 March
2023
Balance ot
l April 2022
Income Expenditure
General funds
54.423
137,500
1191.417)
506
Related party transactions
The trustees. who are also the directors of the charity, have a controLLing interest in Waymade Capital
Limited. During the year. the charity recevied donations from Waymade Capital Limited of £253.732
12023.. 137,5001 and donations of £3.44012023, Niu from the trustees..
Page 16