## **The Nagajuna Trust Trustees’ Annual Report** **For Period** 01/04/2021 **to** 31/03/2022 **Charity Name** : The Nagajuna Trust **Registered charity number** : 1107878 ## **Charity’s principal address** : 6 Villiers Court Meriden Business Park Meriden CV5 9RN ## **Names of the charity trustees who manage the charity.** |Rebecca Seddon|Chairperson| |---|---| |Jane Seddon|Treasurer| |Dennis Crommentuijn-Marsh|Head of Fund Raising| |Margaret Jones|Secretary| |Lauren Miles|Head of IT| ## **Description of Charity’s trusts:** Type of governing document: Trust deed How the charity is constituted: Trust Trustee selection methods: Appointed by trustees. ## **Objects of the Charity:** To relieve poverty and advance education of impoverished children in Nepal by the provision of support, financial and material assistance, particularly, but not exclusively for the Nagajuna Modern School with the object of improving their conditions of life. ## **Charity’s Policy on reserves:** Where possible reserves will be invested in a high interest account ## **Details of any funds materially in deficit** : Nil > **A UK registered charity no 1107878 P a g e** | **1** **www.thenagajunatrust.org** – **Registered address: The Nagajuna Trust 6 Villiers Court, Meriden Business Park, Meriden, CV5 9RN, The United Kingdom** ## **Performance and Achievements** This period has been slightly easier than its predecessor but has still had many hardships. Lockdowns have continued off and on in Nepal. The children that we support in India have been in hardship as the schools and universities have continued to run remotely throughout 2021. Our trainee medic in China has not been allowed to return and is also learning remotely, which gives problems for practical application of his studies. The Nepali Government did however allow hostels to reopen in March 2021 so those children who were staying with foster families can finally return to the Nagajuna School. They were also so pleased to be reunited with their friends and teachers. Of course, they all threw themselves into studies have throughout 2021 have been catching up well. In September 2021 the monsoon in Nepal was terrible and the school suffered a disaster as the river burst its banks. A landslide then caused the water to divert, and it flooded the school, causing damage to the walls, wrecking all the food supplies (which had just been stocked for 3 months) and destroying all the bedding. We launched an appeal and received some generous donations to repair the damage and replace the ruined things. The economy of Nepal is heavily reliant on tourism which completely stopped and as of March 22 was still a fraction of what it needs to be to support the population. This means that there has been little on the ground support and funds have mostly been from the Nagajuna Trust. In September 2021, the Nepali Government changed the rules governing non state schools. All ‘hostels’ like the Nagajuna School had to register as an NGO to receive fees from overseas. This bureaucracy is supposed to protect funds but has the downside to cost the charities involved. In our financial year we have had little opportunity to run many sponsored events, but we did manage to attend a Christmas fair in Dec 2021. We sold homemade samosa, Christmas sweets, personalised baubles and Christmas cards made by the children. We raised over £600 so were very happy. We continued to enjoy support from our kind and generous regular sponsors who have been the steady income we have needed throughout the pandemic. We are all extremely grateful to them all. We hope and pray for better things for the world and our children in the coming year. Rebecca Seddon > **A UK registered charity no 1107878 P a g e** | **2 www.thenagajunatrust.org** – **Registered address: The Nagajuna Trust 6 Villiers Court, Meriden Business Park, Meriden, CV5 9RN, The United Kingdom** ## **The Year in Nepal: April 2021 – March 2022** In March 2021 the school was allowed to partially reopened and the kids returned to their friends and their lessons. > **A UK registered charity no 1107878 P a g e** | **3 www.thenagajunatrust.org** – **Registered address: The Nagajuna Trust 6 Villiers Court, Meriden Business Park, Meriden, CV5 9RN, The United Kingdom** **llll** When new lockdowns happened, students were allowed to study for 2 hours in the morning and 2 hours in the evening only. The rest of the time they played indoor games and cleaned the school. In July 2021 the USA donated Covid vaccines to Nepal and the staff at the school were vaccinated. Only the staff that live at the school have been allowed teach but with the vaccines starting, other staff will return. The kids who go to class outside the school are working online. We use the tablets and phones donated. **www.thenagajunatrust.org** **A UK registered charity no 1107878** **P a g e** | **4** – **Registered address: The Nagajuna Trust 6 Villiers Court, Meriden Business Park, Meriden, CV5 9RN, The United Kingdom** In Sep 2021 monsoon we had to witness something unpleasant. There was landslide in our area which flooded the school. It even broke down the walls of the back of the school. One casualty was reported from the area but luckily everyone from the school was safe and the very next day we started the cleaning of the flooded area. The dining and the room with food supplies was flooded so we had to get rid of almost all the food supplies that got contaminated. There were no roads, and the school bus couldn't operate for few days too. However we revived ourselves from the incident soon and got back on track. The students along with the staff started working on making road for the bus and could continue school the next day. **www.thenagajunatrust.org** > **A UK registered charity no 1107878 P a g e** | **5** – **Registered address: The Nagajuna Trust 6 Villiers Court, Meriden Business Park, Meriden, CV5 9RN, The United Kingdom** the nagajuna trust A UK registered **A UK registered charity no 1107878 P a g e** | **12** **www.thenagajunatrust.org** – **Registered address: The Nagajuna Trust 6 Villiers Court, Meriden Business Park, Meriden, CV5 9RN, The United Kingdom** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees.** ## **Rebecca Seddon** ## **Chairperson** **A UK registered charity no 1107878** **P a g e** | **13** **www.thenagajunatrust.org** – **Registered address: The Nagajuna Trust 6 Villiers Court, Meriden Business Park, Meriden, CV5 9RN, The United Kingdom** ||**The Nagajuna Trust**
**Charity Name**|**The Nagajuna Trust**
**Charity Name**|**The Nagajuna Trust**
**Charity Name**|**1107878**
**No (if any)**|**1107878**
**No (if any)**|**1107878**
**No (if any)**|**CC16a**| |---|---|---|---|---|---|---|---| ||**For the period**
**from**|01/04/2021|**To**||31/03/2022||| ||||||||| |**Section A Receipts and payments**|||||||| |**A1 Receipts**|**Unrestricted**
**to the nearest**
**£**
**25,832**
**-**
**228**
**-**
**-**
**-**
**-**
**-**
**26,060**
**-**
**-**
**-**
**26,060**
**30,000**
**173**
**216**
**1,651**
**-**
**-**
**-**
**-**
**-**
**32,040**
**-**
**-**
**-**
**32,040**
**- 5,980**
**-**
**62,337**
**56,357**|**Restricted**
**to the nearest £**
**17,916**
**-**
**-**
**-**
**-**
**-**
**-**
**17,916**
**-**
**-**
**-**
**17,916**
**24,000**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**24,000**
**-**
**-**
**-**
**24,000**
**- 6,084**
**-**
**9,500**
**3,416**|**Endowment**
**to the nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**||**Total funds**
**to the nearest £**
**43,748**
**-**
**228**
**-**
**-**
**-**
**-**
**-**
**43,976**
**-**
**-**
**-**
**43,976**
**54,000**
**173**
**216**
**1,651**
**-**
**-**
**-**
**-**
**-**
**56,040**
**-**
**-**
**-**
**56,040**
**- 12,064**||**Last year**
**to the nearest £**| |Donations and Sponsorship|**25,832**||||||**41,750**| |Interest|**-**||||||**-**| |Other income|**228**||||||**9,066**| ||**-**||||||**-**| ||**-**||||||**-**| ||**-**||||||**-**| ||**-**||||||**-**| ||**-**||||||**-**| |**_Sub total_**_(Gross income for_|**26,060**||||||**50,816**| ||||||||| |**A2 Asset and investment sales,**|||||||| ||**-**||||||| ||**-**||||||**-**| |**_Sub total _**|**-**||||||**-**| |**_Total receipts_**
**A3 Payments**|||||||| ||||||||**50,816**| ||||||||| |
Support of Nagajuna School|**30,000**||||||**36,800**| |Bank Transfer fees|**173**||||||**173**| |Justgivingsubscriptions|**216**||||||**216**| |Colleage fees|**1,651**||||||**-**| ||**-**||||||**-**| ||**-**||||||**-**| ||**-**||||||**-**| ||**-**||||||**-**| ||**-**||||||**-**| |**_Sub total_ **|**32,040**||||||**37,189**| ||||||||| |**A4 Asset and investment**|||||||| ||**-**||||||| ||**-**||||||| |**_Sub total_ **|**-**||||||**-**| |**_Total payments_**
**_Net of receipts/(payments)_**
**A5 Transfers between funds**
**A6 Cash funds last year end**
**_Cash funds this year end_**|||||||| ||||||||**37,189**| ||||||||| ||**- 5,980**|**- 6,084**|**-**||**- 12,064**||**13,627**| ||**-**|**-**|**-**||**-**||**-**| ||**62,337**|**9,500**|**-**||**71,837**||**58,210**| ||**56,357**|**3,416**|**-**||**59,773**||**71,837**| CCXX R1 accounts (SS) 30/01/2023 1 |**Section B Statement of assets and liabilities at the end of the period**
|**Section B Statement of assets and liabilities at the end of the period**
|**Section B Statement of assets and liabilities at the end of the period**
|| |---|---|---|---| |**Categories**
Signed by one or two trustees on
**B4 Assets retained for the**
**charity’s own use**
**B2 Other monetary assets**
**B3 Investment assets**
**B5 Liabilities**
**B1 Cash funds**|**Details**
**Details**
Signature
**Details**
**Details**
**Details**
**_Total cash funds_**
(agree balances with receipts and payments
account(s))|**Unrestricted**
**Restricted**
**to nearest £**
**to nearest £**
**56,357**
**3,416**
**-**
**-**
**-**
**-**
**56,357**
**3,416**
OK
OK
**Unrestricted**
**funds**
**Restricted**
**funds**
**to nearest £**
**to nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Fund to which**
**asset belongs**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**Fund to which**
**asset belongs**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Fund to which**
**Amount due**
**-**
**-**
**-**
**-**
**-**
Rebecca Seddon
PrintName|**Endowment**
**to nearest £**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||OK| ||||**Endowment**
**funds**
**to nearest £**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**Current value**
**(optional)**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**Current value**
**(optional)**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**When due**| ||||| ||||| ||||| ||||| ||||| ||||| ||||Date of| |||Rebecca Seddon|31/12/2022| ||||| CCXX R2 accounts (SS) 30/01/2023 2 ## **Independent examiner's report on the accounts** **Section A Independent Examiner’s Report** ## **Report to the trustees/ members of** The Nagajuna Trust **On accounts for the year** 31 March 2022 **ended** **Charity no (if any)** 1107878 ## **Set out on pages** One, below I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/03/2022 ## **Responsibilities and basis of report** As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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. **Date:** 26 January 2023 **Signed: Name:** Jenny Lane **Relevant professional** Association of Accounting Technicians (AAT) **qualification(s) or body (if any):** **Address:** 2 Woodland View, Smestow, Dudley, West Midlands DY3 4PH **Section B Disclosure** None 1 **Oct 2018** **IER**