Chirfty r•glitr•tlon numb•r 1144944 Company f•gl•tratlon numb•r 06819862 (England •nd W•l••l IPARTNER INDIA ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
IPARTNER INDIA LEGAL AND ADMINISTRATIVE INFORMATION Trustftos MS S Mathal Ms T Sholly (Appolnt8d 12 Seplember 2023) (Appolnted 12 Seplember 2023) Ms SA Kuehne Se¢retary Mrs B R Mangalore Charfty number 1114944 Company number 05819852 Princlpal address Flat 7 Mulberry Apartments Cosler Avenue London N4 2LD Registered office Flal 7 Mulbery Apartments Cosler Avenue London N4 2LD Auditor DLee&Co 2nd Floor. Premier House 309 Ballards Lane London N128LY Bankers CAF Bank PO BOX 206 Kings Hill Wesl Mailing Kent ME19 4PY
IPARTNER INDIA CONTENTS Trustees, report Statement of trustees. responsSbllitle$ Independent auditorfs report 9-11 Statement of financial activities 12 Balance sheet 13 ststement of cash flows 14 Notes to the finanaal statements 15-26
IPARTNER INDIA TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Irustees present Ihelr annual report and f4nBnel81 slalemenls lor the year ended 31 March 2024. The financlal slalenienls have been prepared In accordan¢e wllh Ihe accounllng pollcies sel out In note 1 to the financial slatemenls and comply wllh Ihe charlly's governlng document, Ihe Companle8 Act 2006 and 'Accounting and Reporting by Charities.. Slalenienl of Recommended Praclice applicable lo charities preparlng their accounls in accordance wilh Ilie Financial Reportlng Standard applicable in the UK and Republic of Ireland (FRS 102). (as amended for accounting periods comm8ndng from 1 January 2019}. Objectlves and actlvltles The charity's objects with which IPartner India was sel up are-. To benefit the publi¢ through the support of di5advanlaged 8nd marginalised communilieg. we aim to move marginalised communities into the mainslream by improving Iheir heallh indicators and their social and economi posilion. These objecls are lo be advanced through the promotion of the elficiency and effediveness of charities working with such mar9inalised communilies. iPartner India a¢hieves these objectives in three ways.. We inspire and encourage the Asian diaspora in the UK to lake an active part in the social change process in Soulh Asia - primarily in India and Nepal and help in alleviating a range of social and genetic legacies. We educate donors on the root causes of poverty. disadvantaged communities and economic deprivation, and create an environment where donors can apply their passion and resources with our partners and help become part ol a solution. We select partners through a rigorous due diligence process and use clear performance metrics and milestones lo evaluate impact and overall organisalional performance. Additional value is created by focusing on capacity building and documenlalion of social outcomes. We create relationships beNveen our partners and donors. Small lo medium size charities can develcp their brands, educate donors and raise funds directly. Donors have an increased choice on what to support and more direcl information on how their support is making a difference. along with a large cost saving" For small unknown bul credible charities. this model provides access lo a global market of donors and supporters. with an opportunity lo communicate their achievements lo develop their profile and credibility. There has been no change in these during the year. Key objectives: Strengthen the connection belween Ihe Indian diaspora in the UK and their heritage while addressing pressing challenges faced by contemporary India. Encourage slralegic, impaclful philanthropy by facililaling contributions to verted and credible organisations in India. Create a platform for the Indian diaspora lo voice their concems and connect with institutions in need of their support.
IPARTNER INDIA TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 About IPartner Indla iPartner India harnesses Ihe power of giving to foster a more equitable and just society. A8 a credible knowledge platform. we champion evidence-based, impactlul. and sustainable philanthropy, addressing India's most pressing developmenl challenges. With a passion for empowering grassroots organlsalion5 Ihal are innovative and courageous, iPartner India provides the support and environment Ihese changemakers need to grow and scale. Backed by over 15 years of on-ground expetience and collaboralion wilh Civil Society Organisalions, we strive lo help marginalised communities Iransition to the mainstream. Our work spans six core thematic areas.. Anli-child Traificking, Health. Women and Livelihoods, Education. Vulnerable Children. and Climate Change. We implement and support high-impacl. lailor-made projects aGross India, ensuring that every initiative benefits the most marginalised populations without discriminabon. 'Through a rigorous due diligence process, we carefully select partners based on their operational capacity, inplemen131ion methods. and ability lo deliver. offering donors the confidence that their conlributions will create real, measurable impact. A comerstone of our approach is the robust framework we have developed lo identify. monitor. and evaluate programs. Beyohd financial support, iPartner India mentors and advises grassroots Ofganisalions, helping them innovate, scale, and achieve greater efficiency. We build capacity for underfunded NGOS by fostering expert partnerships and offering a platform for institutional donors, family foundations. and corporations to drive long- tenn. suslainable change. Accountability is at the heart of our work. We have implemented time-tesled syslerns lo measure the success of grants against key performance indicatofs. ensuring transparency and efficiency in every project. Over the years, iPartner India has invested more than 10 million in projects spanning 22 states. transforming the lives of more than 10 million people in some of India's most underprivileged communities. Key Services and Offerings Tailored Philanthropic Guidance.. Provide personalised advice and stralegic SUPPDrt to hIgnet-w0rth individuals and families, helping them align their giving with their values 2nd goals. In-Depth Research and Analysis.. Conduct feasibility studies and provide insights to ensure informed decision-making. Immersive Field Experiences= Organise on-lhe-ground exposure through "Seeing is Believing. tours to deepen donor understanding and engagement. Rigorous Monitoring and Evaluation.. Offer due diligence services. induding tools for impact assessments and ongoing project evaluations. Educational Initiatives for Donors". Develop programs that enhan donor awareness about philanthropy, sooo-economic challenges. and effective giving strategies. Support for Professional Advisers.. Collaborate with wealth advisors lo inlegrale philanthropy into financial planning. Specialised Services: Assistance in establishing Trust Funds or Family Foundations. Comprehensive consulting services to meet unique philanthropic needs. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what adivities the harity should undertake.
IPARTNER INDIA TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 About IPartner Indla iPartner India harnesses the power ol giving lo foster a more equllable and just soclely. As a credible knowledge platform, we champion evidence-based, impacllul, and suslainable philanthropy, addressing India'8 most pressing development challenges. With a passion for empowering grassroots organi5allons Ihal are Innovative and courageous, iPartner India provides the support and environment these changemakers nèed to grow and srAlo. Backed by over 15 years of on-ground experience and collaboralion wllh Civil S0ry91y Organisalions, we strive lo help marginalised communities transition to Ihe mainstream. Our work spans six core themalic areas.. Anli-child Trafficking, Heallh. Women and Livelihoods, Education. Vulnerable Children. and Climate Change. We implement and support high-impacl, lailor-rnade projeds across India, ensuring that every initiative benefits the mosl marginalised populations without discriminab"on. "Through a rigorous due diligence process. we carefully select partners based orb their operational capacity, iffplemenlalion methods. and ability lo deliver, offering donors the confidence Ihat Iheir conlributions will Greate real, measurable impact. A cornerstone of our approach is the robust framework we have developed lo identify, monitor, and evaluate programs. Beyond financial support, iPartner India mentors and advises grassroots organisalions, helping them innovate, srAle, and achieve greater efficiency. We build capacity for underfunded NGOS by fostering expert partnerships and offering a plalfomi for inslitulional donors, family foundations, and Cofporalions lo drive long- term, suslainable change. Accountability is at the heart of our work. We have implemented time-lesled systems lo measure the success of grants against key performance indicators, ensuring transparency and efficiency in every projecl. Over the years, iPartner India has invested more than 10 million in projeds spanning 22 slates, transforming the lives of more than 10 million people in some of India's most undery)iivileged communities. Key Services and Offerings Tailored Philanthropic Guidance.. Provide personalised advice and strategic support lo high-net-worth individuals and families, helping Ihem align Iheir giving with their values and goals. In-Depth Research and Analysis.. Conduct feasibilily studies and provide insights lo ensure infomed decision-making. Immersive Field Experiences.. Organise on-lhe-ground exposure through "Seeing is Believing" tours to deepen donor understanding and engagement. Rigorous Monitoring and Evaluation.. Offer due diligence services. including tools for impact assessments and ongoing pfojecl evaluations. Educational Initiatives for Donors.. Develop programs Ihal enhance donor awareness about philanlhropy. socio-economic challenge5, and effective giving slralegies. Support for Professional Advisers.. Collabofate with wealih advisors to integrate philanthropy into financial planning. Specialised Services: Assistance in establishing Trust Funds or Family Foundations. Comprehensive consulting services to meet unique philanthropic needs. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what adivities the charity should undertake.
IPARTNER INDIA TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlevomfrnts and porfornianc• In 2023-24 iPartner India monilored 19 projects In 11 stales wllh 11 partners across Seven Ihemalic areas. A total of 16 monlloring vlsils were done by Ihe team during the year and five donor vlsils were lacililaled by the leam. The vertica15 on which we continued lo work are Education. Anll Child Trafficklng, Vulnerable Children, Women and Livelihoods. Heallh. and Climat& Change. This was the second year for iPartner India lo hosl the Kamla Bhasln Award along with Azad Foundation and the National Foundation of India. Kamla Bliasin Award5 Is organised In memory of Kamla Bhasin, a well-known feminist, and acliwst whose body of work helped Iransfomi the Ihlnklng around f8minism and palriarchy. Captured below are some of the hhlightS of the year: ANTI-CHILD TRAFFICKING iPartner India partners with grassrools organisalions acros5 India dedicated to fighting child trafficking and offering ServIS to children and young people who have experienced trafficking, exploi181ion and abjse. Additionally. we focus on empowering local leaders and communilies, driving change on local. regional and national fronts. In the past year, iPartner India has worked alongside Iwo ofganisations to enhance education and raise community awareness. We also provided safe shelters. essential nulrilion. healthcare seryices, and livelihood training io trafficking survivors in two Indian slales. Through these inilialives, over 7.216 individuals, induding traffiGkinS survivors, al-risk girls, and vulnerable communities, have benefited from our support. RAKSHAN 2023-2024 Marks Five Years of Project Rakshan Project Rakshan. designed and implemenled by iPartner India. celebrales its five-year milestone in 202>2024. The word "Rakshan" means "proleclion" in English, embodying the project's mission. In ils fifth year, Rakshan expanded its reach to 36 villages in Rajaslhan. focusing on marginalised communities, particularly the denolified Nal community residing in rural areas. Since its inception in 2018, Rakshan has aimed to create safe spaces for children by engaging entire communities lo support and empower gids, ultimately benefiting everyone. Through collaboration and action. Rakshan bridges families, community leaders. and stakeholders in legal. administrative, economic. and socio cultural domains via targeted inlervenlions Rakshan adopts a holistic approach lo improve education and health outcomes for children while providing alternative livelihood opportunities for rural women and men. The project's ultimate goal is to ensure that no child goes missing from ils intervention wllages. Key Achlevements in 2023-2024 Education Scholarships and Skill Building 252 scholarships awarded lo resource-poor and vulnerable girls. 19 girls enrolled al Banaslhali Vidyapilh, a Premier boarding institution, with three graduates preparing for the Indian Administrative Service (IASI exams 245 youths completed the Rajasthan Slate Course on Information Technology (RSCIT) in 2023-24, bringing the total lo 1,158 since the piojecl's inception. Quarterly block-level meetings monilored scholars. progress and helped prevent dropouts. 87 children (36 girls and 51 boys) in six Nat villages received coaching in Mathematics, Science. and English.
IPARTNER INDIA TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Fami-Based Llvfrllhoods 340 kitchen gardens 5UPPOrted 2023-24. savlng households INR 80(k1,000 monthly, wfth savrngs redireed lowards educalion and healthcare. Smart famiing praclices enabled the cullivalion 014-5 crops annually, boosting lamily Incomes. Non-Fami Llvelihood5 11 goat-rearing units supported, generating monlhly incomes ol INR 2.0[KlS.000 per household. Bal Rakshan Samilis were established in nine villages lo slrenglhen child protection mechanisms. Strategic collaborations were forged wilh Child Welfare Committees and othef stakeholders combating child trafficking. Community and Governance Rakshan expanded to 21 Nal and Kanjar villages, induding Aar dislricl. Bal Rakshan Samilis were established in nine villages lo strengthen child protection mechanisms.. Nat community members were empowered to advocate for Iheii needs in Gram Panchayat Development Plans. Strategic collaborations were forged with Child Welfare Committees and other stakeholders combating child Irafficking. Improved playgrounds led to increased school enrolmenls. Special Initiatives 38 girt scholars participated in a 4-day exposure visit to Udaipur. fostering experiential learning The Rakshan team received training on the Juvenile justi Act and the Protection of Children from Sexual Offences (POCSO) Act. enhancing child protection efforts. Projed Rak5han continues to Iransform lives in Raja51han's most vulnerable communities, working lowafds a safer, healthier, and more equitable future for children and their families. VULNERABLE CHILDREN At iPartner India, we are committed to improving the well-being of vulnerable children. guided by the belief that every child deserves Ihe opportunity to thrive. Our interventions provide access lo education. healthcare. shelter. nutritious food, and other essential resources. empowering children lo build brighlef futures. We partner with established safe shelter homes lo ensure secure environments where children receive education, nourishment, and menlal health support. Over the past year, our comprehensive efforts have positively impacted the lives of 3,515 individuals, including 746 children. By addfessing these critical needs, we strive to creale nurturing and empowering environments that enable vulnerable children to reach their full potential and shape a brighlei future. EDUCATION iPartner India plays a pivolal role in advancing the education and empowerment of marginalized children, partlcularly those facing financial challenge5. Through scholarships for higher education and employability workshops. iPartner India equips sludents with Ihe lools they need lo enhance their career prospects. In 2024, over 200 girfs participated in workshop5 focusing on critical ski115 such as CV writing, mock inlerviews, problem-solving and conflict management. These sessions also addressed key topics. including career counselling. leadership. menstrual hygiene. youth engagement, personal skill development, gender awareness, self-discovery. mental health. yoga. theatre, and sound therapy. Beyond work.shops. iPartner India provides scholarships. educational resources. and mentorship to 340 girls, many of whom are also enrolled in vocational training programs that impart valuable skills to boost their career opportunities.
IPARTNER INDIA TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Overall, iPartn&r India has Indireclly Impacled over 2,520 individuals Ihrough Ils comprehensive educational, employability. and empowermenl inilialive5. These programs are inslrumenlal In enabllng marginalized students to succeed academically, professionally, and personally. paving the way for a brighter and more suslainable fvture. WOMEN AND LIVELIHOODS iPartner India champions sustainable and dignified livelihood opportunities for resourcevpoor women, aiming to enhan their income levels and produclivily. Women's partiripalion in the workforce not only empowers them individually but also uplifts entire communilies During the year, iPartner India slrenglhened ils partnership wilh Azad Foundation to train women as commercial chauffeurs. The Azad Foundation also works al Ihe community level lo raise awareness aboul livelihood opportunities and assists individuals in obtaining essential citizenship documents. With iPartner India's support, 167 women were trained as commeraal chauffeufs. and 7.745 community membets were engaged through awareness inilialives. Kamla Bhasin Award iPartner India collaborated with Azad Foundation and Ihe National Foundation for India to host the second edition of the Kamla Bhasin Award. honouring the legacy of the feminist pioneer Karnla Bhasin. Renowned for her work on gender equaltty, Kamla Bhasin famously stated. "Men of quality are not afraid of equality." This ward celebrates her remarkable achievements and recognizes individuals who dismantle patriarchal structures and promote gender justice across South Asia. The award spans eight South Asian countrie5 Afghanistan. Bangladesh, Bhulan. India. Maldives. Nepal. Pakistan. and Sri Lanka. and accepts entries in all official languages of these nations. Award Categories 1. Women {cisnrans) in Non-Tradilional Livelihoods (NTL). 2. Men (cisltrans) working lor gender justice In 2023, the awardees were.. Jayasree P.K., recognized for her groundbreaking wod( in masonry. Mahendra Kumar. honored for his efforts in promoting gender equality. Special Jury Awards were presented lo Parina Subba Limbu and Farhan Javed Akhler for their eXptIOnal contribulions. The award ceremony took place in Delhi. where seven fellowships were also announced lo advance Kamla Bhasin's mission of empowerment and inclusion. These fellowships. jointly awarded by iPartner India and the National Foundation for India. aim to sustain her legacy of gender justice and social change. CLIMATE CHANGE iPartner India with the help of women and youth in the villages of Rajasthan is making human-made charcoal from waste agricultural biomass. This innovative initiative marks a Significant slep toward climate action and promotes carbon sequesliation. Our collaboration with the Indian Network on Ethics and Climate Change (INECC) has grown slronger, enabling 'oint efforts on various impactful initiative5 aimed al fostering environmental sustainability. SOCIAL MEDIA & VISIBILITY A comprehensive social media strategy was developed during the year, with consistent posts shared on Significant days and events. Films were produced to highlight our work and engage donors effectively. Regular reports were prepared and shared with donors, showcasing the impact of their contributions.
IPARTNER INDIA TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUEO) FOR THE YEAR ENDED 31 MARCH 2024 Flnan¢lal r•vl•w During ihe year under review. the charlly'5 lolal Incomlng resources amounted lo £834.340 (2023.. £458,158) from voluntary income from our generous donors. Oiilgolng resources were £557,055 (2023. £423,558) resulting In a Surplus for the year of £277,285 {2023. £34.600). We made grants lo project partnors lolalling £399,500 (2023: £325,782). 11 is the policy of the charity thal unreslricled funds whlch have nol been deslgnaled lor B Specific use should be maintained at a level equivalenl lo between three and six month's expendilufe. The Iruslees considers th81 reserves al this level will ensure that, in the event of a significanl drop in funding, Ihey will be able lo continue the charity's current actiwts'es while consideralion is given lo ways in which addilional lunds may be faised. This level of reserves has been mainlained throughout the year. The level of serveS available to the charily as al 31 March 2024 was £326,429 which was conSided adequate. The truslees have assessed the major risks lo which the charily is exposed. and are satisfied that systems are in place to mitlgale exposure to the major risks. iPartner India's systems of inlemal control are designed lo provide reasonable. bul not absolute, assurance against material misstatement or loss. They include.. a strategic plan and annual budgel approved by Ihe trustees- regular consideration by the Iruslees of financial results. in particular variance from budget. delegation of authorily and segregation of duties. The trustees have introduced a risk management process lo assess business risk and implement risk management slralegies. This involves identifying the types of risk the charity faces, prioiilising in terms of potential impact and likelihood of occurrence, and identifying means of miligaling the risks. During the year, Ihe trustees undertook a thorough assessment of the major risks lo which the charity is exposed. Procedures and strategies were implemented lo minimise these risks. The key risk identified is external and relates to how the financial climate affects charitable giving. PLANS FOR THE FUTURE Rakshan. bvilding on five year5 of learnings. has Iransilioned from ils pilot phase to refining a scalable model for implementation in its nexl phase. starting in 2024. The focus areas lor Rakshan in this phase will indude.. <1) Creating safe environments for children and young adults to grow and thrive. (li) Ensuring access lo formal, quality education. (iii) Building leadership capacities among children and young adults through sports. capacily-building intervenlions, and ongoing dialogue. iPartner India also plans lo revisit ils goals. mission. and vision lo priorilise niche areas and develop a stralegic roadmap for the next three lo five years.Expand our work on Climate Change and resilience building. The organisation will expand ils outreach lo family and corporate foundations to secure increased funding for the Rakshan project and other inilialives. Investments have been made in coaching and mentoring second-line leadership to lake over key responsibilities in program management. networking. fundraising. and operations durin9 2024-25.
IPARTNER INDIA TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structurei goveman¢e and management The charity is a company limited by guarantee .11 was incorporated on 17 May 2006 and registered as a charity on 28 June 2006. The company wa5 established under a Memorandum ofAssoGialion which established the objects and powers of the charitable company and is governed by ils Articles of Association. The trustees, who are also the directors for Ihe purpose of cornpany law, and who served during the year and up to the date of signature of the financial slalemenls were.. Ms S Malhai MrAMPShah Ms T Shetty Ms S A Kuehne (Resigned 12 September 2023) (Appointed 12 September 2023} (Appointed 12 September 20231 Trustees are selected on the basis of the skills and experience which they bring to the governance of the charity. They are appointed by a resolution of the trustees. On appoinlmenl. new trustees are provided with copies of the relevant Charity Commission guidance and the founder director, along with the other trustees, gives them an introduction to the charity's activities and their roles and responsibililies. The charity has a trustees, policy. whereby Iruslees receive regular information and updates about the charity and are encouraged lo proaclively participate al events and activilies of iPartner India. Beyond this, the Gharily follows the code of practice for governance produced by the Governance Hub. None of Ihe trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee lo oontribule £1 in the event of a winding up. Day lo day management of the charity is delegated by the trustees lo the CEO and her team of staff and Consultants or Researches, who are bioughl in from lime lo time. The trustees remain closely involved in the activities of ihe organisation and authorisalion of transactions. The senior management leam consisls of.. Chief executive officer- Bina Rani Mangalore Exisling trustees are provided with training as and when required and they are encouraged lo allend external training events where these will facilitale the undertaking of their role. The directors consider the board of directors. who are also the trustees and the senior management team comprise the key management personnel of the charity in charge of directing and conlfolling, running and operating the charity ors a day lo day basis. All Iruslees give their lime freely and no direclorllruslee received remuneration in the yeaf. The pay of senior staff is reviewed annually by the trustees. Details of transactions with relaled parties are sel oul in Note 19 to these accounts. The trustees, report was approved by the Board of Truslees. Ms S Mathai Trustee Dated: 17 December 2024
IPARTNER INDIA STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees. who are also the directors of IPartner India for the purpose of company law, are responsible for preparing the Trustees. Report and Ihe financial slalemen15 In accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted AGcounling Practice). Company Law requires the trustees to prepaie financial slalemenls for each financial year which give a true and fair view of the State of affairs of the charily and of the incoming Tesources and application of resourc£s. inctuding the income and expenditure. of the charitable company for that year. In preparing these financial slatemenls. the trustees are required lo: select suitable accounting policies and then appty them consislenlly; obseNe the methods and prinaples in the Charities SORP; make judgements and estimates that are reasonable and prudent- state whether applicable UK Accounting Standards have been followed. subject lo any material departures disclosed and explained in the financial statements: and prepare the financial statements on the going concern basis unless il is inappropriate lo presume that the charity will conlinue in operation. The truslees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply wtth the Companies Act 2006. They are also resporksible for safeguarding the assets of the charity and hence for taknng reasonable steps for the Pfevention and deteclion of fraud and other irregularities.
IPARTNER INDIA INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF IPARTNER INDIA Oplnlon We have audited Ihe financial statements of iPariner India (the 'charily') fof the year ended 31 March 2024 whlch comprise the slalement oi financial aclivilies, the balance sheet, the slalemenl of cash flows and the notes lo the financial statements. including a summary of signlficanl accounting policies. The financial reporting framework that has been applied in their preparah'on Is applicable law and United Kingdom Accounting Sl8ndards. induding Financial Reporting Slandard 102 The Finallal Reportiiyg slanda 8pplicable In Ihe UK and Republic of Ir81and (United Kingdom Generally Accepted Accounting Practice). n our opinion. the financial slatemenls= give a true and fair view of Ihe stale of the chaTilable companys affairs as al 31 March 2024 and of its incoming resources and application of resources. lor the year then ended.. have been propedy prepared in accordance with United Kingdom Generally Accepted Accounling Practi.. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Inlemalional Standards on Auditing {UK) (ISAS {UK)} and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for Ihe audit ol the financial statemenls section of our report. We are independent of Ihe charity in accordance with the ethical requirements thal are ielevant lo our audit of the financial slalements in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going Concern In auditing the financial stalernents, we have conduded Ihal the trustees. use of the going concem basis of accounting in the preparation of the financial slalements is appropriate. Based on the work we have performed, we have not idenlrfied any material uncerlainlies relating to events or conditions that. individually or collectively, may cast significant doubt on the charity s ability lo continue as a going concem for a period of al least twelve months from when the financial statements are authorised for issue. Our responsibilities and Ihe responsibilities of the trustees wilh resped to going concem are described in the relevant sections of this report. other information The other infomialion ¢ompri5es Ihe information induded in the annual report other than the finala1 statements and our auditorfs report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on Ihe financi31 slalemenls does not cover the other information and we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so. consider whether the other information is maleri211y Inconsislent with Ihe financial statements or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misstated. If we identify such material incor)sistencies or apparenl material misslatements, we are required lo determine whether this gives rise to a m2terk21 misslalement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a material misslatemenl of this other infomation, we are required to report that fact. We have nothing to feport in this regard. Matters on which we are required to report by exception We have nolhing to report in respecl of the following matters in relation lo which the Charities (Accounts and Reports) Regulations 2008 require us to repori to you if, in our opinion= the information given in the financial statements is inconsistent in any material respect with the trustees, report; or sufficient accounting records have not been kept- or the financial statements are not in agreement with the accounting records: or we have not reGeived all the inf0mli0n and explanations we requi for our audit.
IPARTNER INDIA INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF IPARTNER INDIA Responslbllitles of trustees As explained more fully in the slatemenl of truslees, responsibililies, Ihe trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparallon of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the Iruslees determine is necessary lo enable the preparalion of financial statements Ihal are free from malerial misslalemenl. whether due lo fraud or error. In preparing the financial slalemenls, Ihe Iruslees are responsible for assessing the charity's ability to continue as a going con¢em. disclosing. as applicable, mallers relaled lo going concern and using the going concem basis of accounting unless the Iruslee5 either Inlend lo liquidate the charitable company or lo cease operations. or have no realistic allemative bul lo do so. Auditor's responsibilities for the audit of the finan¢lal statements We have been appointed as auditor under section 144 of the Charities AGI 2011 and report in accordance with the Act and relevant regulations made or hawng effect Ihereunder. Our objectives are to obtain reasonable assurance about whether the financial slatemenls as a whole are flee from material misslatemenl, whether due lo fraud or error. and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee Ihal an audit conducted in accordance with ISAS (UK) will always delecl a material misstalemenl when it exists. Misslalemenls can arise from fraud or error and are considered material if. individually or in the aggiegale, they could reasonably be expected to influenc8 the economic decisions of users laken on the basis of these finanaal slalements. The extent to which our prOdureS are capable of detecting irregularities. including fraud. is detailed below. Based on our understanding of the charity and industry in which il operates, we identified the risk of non-compliance with key laws and regulations which induded Companies Acl 2006 and lax legislation and we considered the extent to which non-compliance might have a material effect in Ihe financial slatemenls. We also addressed the risk of fraud through management override of controls. We lesled the appropriation of journal entries and other adjuslmenls and evaluate whether there was evidence of potential bias. The risk of not detecting a material misslatemenl due to fraud is higher than the risk of not delecling one resulting from error. as fraud may involve deliberate concealment by. for example. forgery or intentional misrepresentations, or through collusion. In addition to the above, our procedures to respond lo the risks identified induded the following.. Reviewing financial slalemenls disdosures by lesling lo supporting documentation to assess compliance with applicable laws and regulation.. Enquiry of management, those charged with governance around actual and potential liligalions and claims.. Enquiry of entity staff lo identify any instances of non compliance wilh laws and regulations and fraud.. Performing analytical procedures lo identify any unusual or unexpected relationships that indicate risk of material misstalemenls due lo fraud. Reading minutes of meeting of those charged with govemance. There are inherent limitations in Ihe audit piocedures described above. We are less likely lo become aware of non- compliance with laws and regulations thal are not closely related lo events and transactions Teflecled in the financial statements. We communicate with those charged with govemance regarding, among other matters, the planned scope and timing of the audit and significanl audit findings. including any significant deficiencies in internal control that we identify during our audit. A further description of our responsibilities is available on the Financial Reporting Council's website al.. https.'Il www.frc.org.uklaudTtorsresponsibilities. This description foms part of our audilo¢s report. 10-
IPARTNER INDIA INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF IPARTNER INDIA This report is made solely to the company's members. as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might stale to Ihe company's members those mallers we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company s members as a body, for our audit work. for this report, or for the opinions we have fomied. DLee&Co Chartered Certified Ae¢ountants Ststutory Auditor 2nd Floor. Premier House 309 Ballards Lane London N12 8LY D.Lee & Co is eligible for appointment as audilor of Ihe charily by virtue of its eligibility for appointment as audilor of company under section 1212 of the Companies Act 2006. 11
IPARTNER INDIA STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Restrlcted fund8 lund8 2024 2024 Total Unrejtrlcted Re*trl¢ted fundi fund• 2023 20Z3 Totsl 2024 Z023 Notes Income from: Donations and legacies Investments 53.129 1.740 779.471 832,600 1,740 117.812 1,013 339.333 457,145 1,013 Total Income 54,869 779,471 834.340 118,825 339,333 458,158 Expenditure on: Raising funds Charitable acliwlies 63,746 493,309 38,474 58.845 191 326,048 38,665 384.893 56.577 85,005 7.169 408,304 423,558 Total expenditure 141.582 415.473 557,055 97.319 326,239 Net Incomellexpenditurel and movement in funds 277,285 21,506 13,094 34,600 (86.713) 363,998 Reconclliation of funds: Fund balances at 1 April 2023 629.708 399.721 264,587 664,308 378.215 251,493 Fund balances at 31 March 2024 941.593 399.721 2eA.587 664,308 313,008 628,585 The statement of financial activities indudes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. 12-
IPARTNER INDIA BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Fixed assets Tangible assets Notes 1,312 Current assets Debtors Cash at bank and in hand 13 2,158 955,014 2.160 673,814 675.974 Creditors.. amounts falling due withln one year 957.172 14 {16,891) (11,666) Net current assets 940.281 Total assets less current liabilities 941.593 664.308 The funds of the charity Restricted income funds Unrestricled funds 16 17 628,585 313.008 264,587 399.721 941.593 664,308 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies A 2006. for the year ended 31 March 2024. although an audit has been carried out under section 144 of the Chartties A2011. The. (lirecaors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company lo obtain an audit of its financial slalemenls under Ihe requirements of the Companies Act 2006, lor the year in quests.on in accordance with section 476. These financial statements have been prepared in accordance with the prOs1on$ applicable to companies subject to the Small companies regime. The financial statements were approved by the twslees on 17 December 2024 Ms S Mathai Truste• Company gIstratIon number 05819852 (England and Wales) 13-
IPARTNER INDIA STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 Notes 2024 2023 Cash Ilows from operating a¢tivltle$ Cash generated from operations 22 Insting activities Purchase of tangible fixed assets Investment income received 281.209 36.133 (1.749) 1.740 Net cash (used in)Igenerated from Investing activities 1,013 (9) 1,013 Net cash used in finan¢ing activities Net increase in cash and cash equivalents 281.200 37,146 Cash and cash equivalents at beginning of year 673.814 636.668 Cash and cash equivalents at end of year 955.014 673.814
IPARTNER INDIA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charlty Infomiation iPartner India is a private company limiled by guaranlee incorporaled In England and Wales. The registered office is Flat 7 Mulberry Apartments, CoslerAvenue. London, N4 2LD. 1.1 Accounting conventlon The financial slalements have been prepared in accordance with the charitys Act 2011, the Companies Act 2006 and 'Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with Ihe Financial Reporling Standard applic8ble in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods cornmencing ffom 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in 51erling, which is the functional currency of the charity. Monetsry amounts in these financial statements are rounded lo the nearest £. The financial statements have been prepared under the historical cost convention. The prin¢tpal acUntIng policies adopted are set out below. 1.2 Going concern At the time of approving the financial slatemenls. the trustees have a reasonable expedation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the tteeS continue to adopt the going concern basis of accounting in preparing the finanry81 slatemenls. 1.3 Charitsble funds Unrestricted ftsnds are available for use al the discretion of the Iruslees in furtherance of their charttable objectives. Restricted funds are subject lo specific condib-ons by donors or grantOTS as to how they may be used. The purposes and uses of the restricted fund5 are sel out in the notes to the financial statements. Endowment fvnds are subject lo specific conditions by donors that the capital musl be maintained by the charity. 1.4 Income Income is recognised when the charrty is legally enlilled lo 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 perfomance conditions require deferral of the amount. Income lax recoverable in relation to donations received under GiftAid or deeds of covenanl is recognised at the time of the donation. Legactes are recognised on receipt or otherwise rf 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 asseL 15-
/ IPARTNER INDIA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Contlnued) 1.5 Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where Ihere is a legal or conslruclive obligation to make payments to third parties. il Is probable Ihal the selllemenl will be required and the amount of the obligation can be measured reliably. It is calegorised under the following headings.. Cost of raising funds comprise costs incurred by the tharily in the generation of donation and fundraising income. Expenditure on charitable activities include those costs incurred by the charity in the delivery d its activities and services for ils beneficiaries. Other expenditure represents those item5 nol falling inlo the category above. All categories of costs include both costs that Can be allocated directly lo such adivities and those costs of an indirect nature nature necessary lo support them. Irrecoverable VAT is charged as an expense against the activity for which expendilure arose. Grants payable to third parties are within Ihe charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant as this gives iise lo a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance. the grant is accrued only when any unfulfilled conditions are outside of the control of the charity. Support costs Support costs are those that assist the wot* of the charity but do not direcrfy represent charitable activities and indude premises costs, office costs, govemance costs. adminislralive and payroll costs. They are incurred directly in support of expenditure on the objects of the charity- Where support Costs cannd be directly attributed to Particular activities, they have been allocated lo expenditure on a basis which may be based on activity as represented by direct costs expended on Ihal activity. or based on a proportFon of stafff costs. The analysis of these costs is included in Note 4. 1.6 Tangible fixed assets Tangible fixed assets are initially measured al cost and subsequently measured al cost or valuation. net of depreciation and any impairrnenl losses. Depreciation is recognised so as lo wrrte off the cost or valuation of assets less their residual values over their useful lives on the follo¥ving bases.. Computers The gain or loss arising on the disposal of an asset is delemiined as the difference betsveen the sale proceeds and the carrying value of the assel, and is recognised in the statement of financial aclivilies. 25QA per annum on reduang balance 1.7 Impaimient of fixed assets At each reporting end dale. the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impaimienl loss. If any such indallOn exists. the retxsverable amount of the asset is esbmaled in order to determine the extent of the impairment loss (rf any). 1.8 Cash and cash equivalents Cash and cash equivalenls include cash in hand. deposits held al call with banks, other short-term liquid investments wrth original malurilies of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowngs in current h'abilrties. 16-
IPARTNER INDIA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies 1.9 Financial Instruments The charity has elected to apply the provisions of Section 11 'Ba5ic Finaneial Instruments, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of ils finanoaf instruments. {Conllnuod} Financial instruments are recognised in the charity's balance sheet when the charty becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the nel amounts presented in the financial slalemenls. when there is a legally enforceable right to set off the recognised amounts and there is an intention lo settle on 8 net basis or to realise the asset and selue the liability simultaneously. Basic financial assets Basic financial assets. which include debtors and cash and bank balances, are initially measured at transaction price including transaction cosls and are subsequently carried al 2mortised cost using the effective interest method unless the arrangement constitutes a finanang transaction. where the transaction is measured at the present value of Ihe future receipts discounted at a market rate of interest. Financial assels classified as receivable wilhin one year afe not amortised. Basic financial liabilities Basic financial liabilities, induding creditors 2nd bank loans are initially recognised at transadion price unless the arfangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost. using the effective interest rale method. Trade creditors are obligations lo pay for goods or serwces that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassified as current liabilities if payment is due within one year or less. If not, they are presented as non•current liabilitie5. Trade creditors are recognised initially at . transaction price and subsequently measured al amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charrly's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entttlemenl is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when Ihe charity is demonstrably committed to terminate the employment of an employee or lo provide lermination benefits. 1.11 Retirement benefits Payments to defined contribution retiremenl benefit schemes are charged as an expense as they fall due. 1.12 Sister organisation The chafity works in assouation with a sister organisation in India. that is called iPartner India (the Trust). The Trust is a separately constrtuted Chantable Trust (Ref 5454) eslablished lo worf( in partnership with iPartner India UK in delivering its mulual charitable objectives within agreed quality standards. The Trust Is not deemed to be a branch nor a subsidiary of the UK Charity- As a result of this, Its results are not reflected In these accounts. Funds transferred to the Twst are treated as grants. 17-
IPARTNER INDIA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Critical accountlng estimates and judgements In the application of the charity's accounting policies. the Iruslees are requlred lo make ludgements, estimates and assumpiions about the Carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumption5 are based on hislorical experience and other factors Ihal are considered to be relevant. Aclual results may differ from Ihese eslimales. The estimates and underlying assumptions are reMewed on an ongoing basis. Rewsions lo accounting estimates are recognised in the period in which the estimate is revised where the revision affects cnly that period, or in the period of Ihe revision and future periods where the revision affecls l)olh current and future periods. Income from donations and legacies Total Unrestrlcted Restrfcted funds fun(ts 2023 2023 Total Unrestricted Restricted funds funds 2024 2024 '2023 2024 117.812 339.333 Donations and gifts Grants 53.129 53,129 779,471 117.812 339.333 779.471 53.129 779.471 832,600 117,812 339.333 457,145 Income from Investments Unrestricted Unrestricted funds funds 2024 2023 1,740 1,013 Interest receivable Expenditure on ralslng funds Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Fundralslng and publicity Other fundraising costs Stsff costs Depreciation and impairment 191 34,570 21.823 7.169 41,739 21,823 16,526 21,948 16,717 21,948 184 56,577 7.169 63,746 38,474 191 38,665 18-
IPARTNER INDIA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable actlvltles Allovlatlon Prèvèntion of hardshlp of human and poverty trafflcklng 2024 2024 Tolal 2024 Total 2023 Depreciation and impaiment 160 50 210 Grant funding of activities (see note 8) 304.952 94,548 399.500 325.782 Share of support costs (see note 9) Share of govemance costs (see note 9) 55.448 15.996 17.194 4.961 72.642 20.957 44,190 14.921 376,556 116.753 493.309 384.893 Analysis by fund Unrestricted funds Restricted funds 62.800 313.756 22,205 94.548 85,005 408,304 58.845 326.048 376.556 116.753 493.309 384,893 For the year ended 31 March 2023 Unrestricted funds Restncted funds 48.051 266.572 10.794 59,476 58,845 326.048 314.623 70.270 384.893 Description of charitsble activities The charitable activities conlinued to be that of Alleviation of hardship and poverty and preventK)n of human trafficking. 19-
IPARTNER INDIA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Grants payable Allevlatlon Preventlon of hardshlp of human and poverty trafficklng 2024 2024 Tothl Allevlalion ol Pfevenlion ol human 2024 hardship and Poverty Irafficking 2023 2023 To131 2023 Grants to institutions.. Awards, Fellowships & Scholarships Azad Foundation Institvte for Studies & Trans iPartner India Trust LAYA Jamghal Prerana and RAHAT PPES SPID Udayan Care 6.153 39,898 6.153 39.898 980 48.347 3,390 4,370 48,347 4.798 34.402 1,098 69,448 4.798 86.005 1.098 69,448 29,601 104.032 13.344 45,123 51,603 86,839 45,900 75,618 10.186 54,522 86,839 29.601 45.9(Y) 104.032 75.618 13,344 10.186 45.123 54,522 266,306 59,476 325.782 304.952 94,548 399.500 Awards. Fellowships & Scholarships £6,153 12023: £4,370) Awards. Fellowships and Scholarships lo the winner of the first edition of KB Awards and Scholarship lo resource poor individuals. £39.898 {2023'. £48.347) Providing livelihoods with dignity for women from resource-poor Azad Foundation communities. Institute for Studies & Trans . £4,798 {2023.. £nil) For the welfare and support of women in performing arts in India. iPartner India Trust.. £86.005 {2023'.£nil) Providing scholarships and working towards anti trafficking of young and minor girfs and boys. LAYA.. £1.098 (2023.. £nil) For preparing of strategy paper on environment and energy. Jamghal .' £69,448 (2023.. £86.839) Education, counselling, livelihoods and provision of safe space to children living on streets. Prerana .' £20,169 (2023-. £35,798) Education support Programme for children of sex workers from Mumbai red light areas. RAHAT: £9.432 (2023.. £10.102} Community based projed lo protect women and thildren from abuse and sexual exploilalion. PPES . £104.032 (2023". £75,618) Support education for girls Irom resource poor background.. SPID '. £13.344 (2023." £10.186) Education, nulrilion and safe space for children of sex workers in Delhi's red light area. Udayan Care .' £45.123 (2023.. £54.522) Fellowship and mentoring support lo girts from poor bad(ground.
IPARTNER INDIA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support Costs allocated to activllle8 2024 2023 Staff costs Rent and general office Book-keeping & administration Other cost Travellin9 expenses Governance ¢osls 24,940 1.182 29.827 1,090 15,603 20,957 25,083 830 10,205 1,279 6,793 14,921 93.599 59,111 Analysed between: Alleviation of hardship and poverty Prevention of human trafficking 71.444 22,155 48,317 10,794 93.599 59.111 2024 2023 Governance costs comprlse: Staff costs Depreciation Audit fees Share of support costs 5,196 43 5,778 9,940 5.225 5.715 3,981 20.957 14,921 10 Net movement in fund$ 2024 2023 The nel movement in funds Is staled after chargingl(crediling)'. Fees payable for the audit of the charitls financial slatemenls DepreGialion of owned tangible re0 assets 5.778 437 5,715 11 Trustees None of the tfuslees (or any persons connected with them) receNed any remuneration or benefits from the charity during Ihe year. None of the trustees had any expenses reimbursed or paid for by the charity during the year (2023: £nil). 21
IPARTNER INDIA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Employefrs The average monthly number Of ernOYeeS dudng the year was.. 2024 Numb•r 2023 Numb•r Employment ¢o$ts 2024 2023 Wages and salaries Social security costs Other pension costs 711 1,248 943 1.313 51,959 52.256 There were no employees whose annual remuneration was more than £60.000. Rernuneratlon of key management personnel The remuneration of key management personnel was as follows". 2024 2023 Aggregate compensation 50,000 There were no other Telaled party transactions. 13 Debtors 2024 2023 Amounts falllng due wlthin one year: Other debtors 2.158 2.160 14 Creditors: amounts falllng due wlthln one year 2024 2023 Other taxation and social securlty Trade credrtors Other creditors Accruals and deferred income 1.439 2,198 8.439 4,815 1,501 1,082 4.268 4.815 16,891 11,666
IRARTNER INDIA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Retirement benefit schemes Defined contribution schemes 2023 Charge to profit or loss in respect of defined conlrlbullon schemes 2024 1.248 1,313 The charity operates a defined contribution pension scheme for all qualifying employeos. The assets of the scheme are held separately from those of the charity in an independently administered fund. 16 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to speafic conditions by donors as to how they may be used. Movement in funds Incoming Rèsourc rèsources expended 31 March 2024 Balancè at 1 April 2023 Every8MinutelGlobal Giving Beatrice Gilmore Trust Anders Lily FGC RZK Foundation Covid-19 Relief Fund Pakhar Foundation Goldman Sachs (Punit Malhi) Goldman Sachs (Rajesh Venkatramani) other 56.949 22.182 11.602 (3.610} 5.9C6 22.792 (4.869) (11.459> (35,805) (26,913) (28.688) 74.262 143 39,415 48,663 6.172 64.088 11.183 27.656 276 64,088 157,495 223.289 42,325 39.051 427.537 231,810 49,959 11.293 {281,225) (8.521) (12.634) (5,359) 5,000 33,117 264.587 779.471 (415.473) 628.585 -23-
RTNER INDIA OTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Restricted funds Purpose of restricted funds.. Every8Minute ". These funds are Used for the charity's campaign that woiks for the prevention of thild trafficking. Beatrice Gilmore Trust These funds are for the support of kitchen gardens under Rakshan program. Anders These funds are for the support of livelihoods programs. Lily FGC The Lily Foundation Goveming Commrttee catTtes fundraising for the Charity fof anttraff1ng projeds and the alleviation of poverty. RZK Foundation These funds were raised for the support of livefihoods and education. Covid-19 Relief Fund These funds were raised for the Covid-19 Relief work in India. Pakhar Foundation These fijnds provide support for a number of projects in India involved w¢th chitdren's education the prevention of human trafficking. {Contlnuedl Goldman Sachs These funds are lor charitable activities and programs in India. Other These funds represent other lunds donated lo support worthy projects in India. 17 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and granlors as lo how they may be used. These include designated funds which have been set aside out of unrestricted funds by the Iruslees for specific purposes. At 1 April 2023 Incoming resources Resources At 31 March expended 2024 General funds 399.721 54,869 (141,582) 313,008 Previous year. At 1 April 2022 Incoming Resources At 31 March resources expended 2023 General funds 378.215 118,825 (97,319) 399,721 -24-
TNER INDIA / NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Analysis of net assets between funds Unrestrlctsd funds 2024 Restrfcted funds 2024 Tolal 2024 At 31 March 2024: Tangible assets Current assetsl(liabilities) 1,312 311.696 1,312 940,281 628,585 313.008 628,585 941.593 Restricted funds 2023 Totsl Unre$tricted funds 2023 2023 At 31 March 2023: Currenl assetsl(liabilities) 399.721 264.587 664.308 399,721 264.587 664.308 19 Financial commttments, guarantees and contingent liabilities There were no financial commitmenls, guarantees or contingent liabilities at the year end. 20 Capital commitrnents There were no capital commitments either authorised by the board or contracted for at the balance sheet date. 21 Related party transactions There were no disctosable related party transactions during the year (2023- none).
ARTNER INDIA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Cash generated from operations 2024 2023 Surplus for the year 277,285 34.600 Adjustmen15 for= Investmenl income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets {1,740) 437 (1,013) Movements in working capital.. Decreasel(increase) in debtors Increase in creditors (2) 2.548 5.225 Cash generated from operations 281,209 36,133 23 Analysis of changes in net funds The charity had no material debt during the year. -26-