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2022-03-31-accounts

THE AKSHAYA PATRA FOUNDATION UK

ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2022

Registered Charity No: 1117756

THE AKSHAYA PATRA FOUNDATION UK

CONTENTS

Reference and administrative details of the Charity 1
Trustees’ report 2 - 8
Report of the Independent Auditors 9 - 11
Consolidated Statement of Financial Activities
 12
Parent Charity Statement of Financial Activities 13
Balance sheets 14
Consolidated Statement of cash flows 15
Notes to the financial statements 16 - 30

THE AKSHAYA PATRA FOUNDATION UK

REFERENCE AND ADMINISTRATION DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022

Trustees Ravindra Chamaria, Chair Chanchalapathi Das Peter Marano Wayne McArdle Bhawani S Shekhawat Dr Monica Sah (appointed 6 October 2021) Charity registered number 1117756 Principal Office Unit S Penfold Trading Estate Imperial Way Watford WD24 4YY Chief executive officer Bhawani S Shekhawat Auditors Knox Cropper LLP Chartered Accountants 65 Leadenhall Street London EC3A 2AD Bankers HSBC Bank 67 George Street Richmond Surrey TW9 1HG Solicitors Gibson, Dunn & Crutcher LLP Telephone House 2-4 Temple Avenue London EC4Y 0HB

1

THE AKSHAYA PATRA FOUNDATION UK TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022

The Trustees present their annual report together with the financial statements of The Akshaya Patra Foundation UK for the year 1 April 2021 to 31 March 2022.

Objectives and activities

The Akshaya Patra Foundation UK (“TAPF UK”) along with its counterpart in India continued relentlessly to serve its purpose. The foundation in the UK now serves twin objectives of supporting the program in India as well as continuing to support more and more children and families struggling with food poverty in the UK. Throughout the COVID pandemic the team continued to innovate to ensure that our services continued both in the UK and in India. Despite these challenges, the trustees are pleased to report that TAPF UK made significant progress on all its strategic objectives .

To further the Charity's purposes for the public benefit The Trustees have complied with the duty in Section 4 of the Charities Act 2006 and have paid due regard to public benefit when preparing this report. The benefit provided to the public is consistent with the aims of the charity in UK.

Achievements and performance

The team at TAPF UK continued and relentlessly executed on its strategic pillars

  1. To consolidate and scale the launch of the GMSP-Akshaya Patra kitchen in Watford

  2. To launch our mid-day meal services to support the Holidays and Food (HAF) program in London 3. To support our initiatives during the COVID pandemic in India.

The trustees are pleased to report that significant progress was made on all of these activities. Following the launch of the GMSP-Akshaya Patra kitchen, we launched the largest ever HAF feeding service during Easter and Summer and also executed a Christmas feeding program. An innovative service was launched in addition to our provision of hot meals . This service, in the form of a Happiness Box, helped families by giving them the ingredients to create fresh, nutritious meals for their children during the holiday period. New partners were enrolled and we continued to work closely and in collaboration with The Childhood Trust to ensure more and more children could benefit from our service.

In addition, the team played a significant role in supporting TAPF India’s initiatives. TAPF India served close to 250 million meals during the pandemic and TAPF UK played an important role in securing funding support for it.

2

THE AKSHAYA PATRA FOUNDATION UK TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Achievements and performance (continued)

b. Review of activities : This year too, the pandemic made it quite difficult for the charity to operate. The re-oriented approach which we put in place in the previous fiscal year (2020-21) was re-invigorated for all areas of fund raising, advocacy and food provision and we continued with an online-first model. In addition we identified new partnerships both in the areas of logistics and manufacturing for TAPF UK as well as for fund raising and advocacy.

The team championed collaboration with local boroughs and councils. New partnerships were forged both in Hertfordshire as well as Greater London and within the M25. Despite challenges of the pandemic, the team served all the beneficiaries and entities it collaborated with on budget and on time. The charity welcomed visits to its Watford kitchen from prominent leaders in the community, representatives from the Government as well as MPs from UK Parliament.

3

THE AKSHAYA PATRA FOUNDATION UK TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022

The main channels for reaching beneficiaries were:

Over 450,000 meals were served in Greater London alone since we opened . All three initiatives viz. Nourish to Flourish, Beat Hunger as well as Happiness Boxes were received very well by all beneficiaries.

4

THE AKSHAYA PATRA FOUNDATION UK TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022

A satisfaction survey carried out with our beneficiaries reported satisfaction scores in excess of 95%. We also received a range of very heartening testimonials:

“The food has been brilliant. Vegetarian means everyone can access. The portions have been generous, which has had an extra knock-on effect to help families. Everybody should know about your organisation” – Instructor, Let’s Leap

“The food is really nice. The standard is very good. The children enjoy it. The cakes are a hit and they love the fruit.“ –

Manager, Sports4Kids

“The food is really good. I hate broccoli, but your food makes me like it.” – Iya, student, age 11

“Just wanted to say how well the meals have gone down. The Young People like them and they’re going quite quickly, thank you to you and the company doing them.” – Service Manager, Centrepoint

Our strategic initiatives with Bain and Co. (who kindly provided their services on a pro bono basis) led and supported by their exceptional team moved from scoping to implementation and the Trustees will report progress on those outcomes in the coming year

In addition to our work in the UK, the charity helped serve nearly 1.25 million meals in India with our fund raising initiatives.

The Trustees continued to partner with Gibson Dunn to ensure comprehensive Governance on all aspects of the charity.

5

THE AKSHAYA PATRA FOUNDATION UK TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Financial review

Total funds at the year-end are £843,494 (2021 - £1,065,553). Restricted funds totalled £17,283 (2021 - £482,700).

Structure, governance and management

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

The Trustees continue to play a primary role in ensuring good governance and functioning of the foundation. The Board's role, functions and responsibilities are quite clearly defined. The 5 Trustees are:

Ravindra Chamaria Chairman & Managing Director Infinity InfoTech Parks Ltd

Chanchalapathi Das, Trustee Programme Director for The Akshaya Patra Foundation in India

Peter Marano, Trustee Chairman of Broadgate

Wayne Mcardle Partner (Retired) Gibson Dunn and Crutcher LLP

Bhawani Singh Shekhawat CEO The Akshaya Patra Foundation UK

Dr Monica Sah Partner Clifford Chance LLP

6

THE AKSHAYA PATRA FOUNDATION UK TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

In addition to the Trustees, the Charity currently has a strong team of 7 advisory board members in the UK who have helped to secure financial support and contribute to the future planning of the organisation. The charity plans on engaging some more advisory board members who can seek to grow the charity outside of London. The Trustees are encouraged to visit the operations in India, the kitchen where the meals are prepared and some of the schools which receive these meals.

Future developments : The Charity will consolidate its activities of supporting the UK program and serving even a larger number in the UK.

The board and an advisory board are in the process ensuring they continue to be effective and more active and able to support and contribute into the expansion plans of the foundation which includes regional chapters in other cities of Great Britain.

Fundraising

The charity is committed to following the Code of Fundraising Practice. During the year, the charity did not make use of any external consultants to undertake its fundraising activities. No data was shared with, or sold to, any external agencies. We did not undertake unsolicited direct mail shots, send any unsolicited newsletters or approach any vulnerable individuals to support our work. A complaints policy is in place but we received no complaints during the year about any of our fundraising activities.

7

THE AKSHAYA PATRA FOUNDATION UK TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for the year. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping 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 Charities Act 2011 and regulations made thereunder. 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.

This report was agreed and signed on behalf of the Board of Trustees on 2023.

Ravindra Chamaria (Chair & Trustee)

8

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE AKSHAYA PATRA FOUNDATION UK FOR THE YEAR ENDED 31 MARCH 2022

Opinion

We have audited the consolidated financial statements of The Akshaya Patra Foundation UK (the ’ Parent charity’) and its subsidiary (“the Group”) for the year ended 31 March 2022 which comprise the Consolidated Statements of Financial Activities, the Parent Charity Statement of Financial Activities, the Consolidated and Parent Charity Balance Sheet, the Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Group and the Parent Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements 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 to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group and the Parent Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

9

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE AKSHAYA PATRA FOUNDATION UK FOR THE YEAR ENDED 31 MARCH 2022 (continued)

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Group’s and the Parent Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

10

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE AKSHAYA PATRA FOUNDATION UK FOR THE YEAR ENDED 31 MARCH 2022 (continued)

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Charities Act 2011. Our audit work has been undertaken, so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s 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 charity and the charity’s trustees as a body, for our audit work, for this report or for the opinions we have formed.

Knox Cropper LLP Statutory Auditor 65 Leadenhall Street London EC3A 2AD

Knox Cropper LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

11

THE AKSHAYA PATRA FOUNDATION UK

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31[ST] MARCH 2022

Notes
INCOME FROM
Donations and legacies
2
Charitable activities
3
Total
EXPENDITURE ON
Raising funds
Charitable Activities
4
Total Resources Expended
Income/(Expenditure) for the year
Gross transfers between funds
16/17
NET MOVEMENT IN FUNDS
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
2022
2021
£
£
£
£
201,872
1,448,483
1,650,355
2,249,370
94,657
-
94,657
35,810
296,529
1,448,483
1,745,012
2,285,180
-
-
-
13,832
250,720
1,716,351
1,967,071
1,356,346
250,720
1,716,351
1,967,071
1,370,178
45,809
(267,868)
(222,059)
915,002
197,549
(197,549)
-
-
243,358
(465,417)
(222,059)
915,002
582,853
482,700
1,065,553
150,551
826,211
17,283
843,494
1,065,553

All incoming resources and resources expended derive from continuing activities.

12

THE AKSHAYA PATRA FOUNDATION UK

PARENT CHARITY STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31[ST] MARCH 2022

Notes
INCOME FROM
Donations and legacies
2
Charitable activities
Total
EXPENDITURE ON
Raising funds
Charitable Activities
4
Total Resources Expended
Income/(Expenditure) for the year
Gross transfers between funds
NET MOVEMENT IN FUNDS
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
2022
2021
£
£
£
£
263,360
1,448,483
1,711,843
2,249,370
-
-
-
34,805
263,360
1,448,483
1,711,843
2,284,175
-
-
-
13,832
153,605
1,716,351
1,869,956
1,663,874
153,605
1,716,351
1,869,956
1,677,706
109,755
(267,868)
(158,113)
606,469
197,549
(197,549)
-
-
307,304
(465,417)
(158,113)
606,469
274,320
482,700
757,020
150,551
581,624
17,283
598,907
757,020

All incoming resources and resources expended derive from continuing activities.

13

THE AKSHAYA PATRA FOUNDATION UK

BALANCE SHEETS AS AT

31[ST] MARCH 2022

Notes
FIXED ASSETS
Tangible Assets
8
Investment in subsidiary company
9
CURRENT ASSETS
Stock
Debtors
10
Cash at bank and in hand
11
Creditors : Amounts falling due
within one year
12
NET CURRENT ASSETS
NET ASSETS
18
FUNDS
Restricted
16
Unrestricted
17		 2022
Group
Parent
£
£
329,791
5,571
-
1
329,791
5,572
9,273
-
210,754
281,152
661,772
607,869
881,799
889,021
(368,096)
(295,686)
513,703
593,335
843,494
598,907
17,283
17,283
826,211
581,624
843,494
598,907		 2021
Group
Parent
£
£
341,418
6,520
-
1
341,418
6,521
1,633
-
104,014
198,961
670,609
571,837
776,256
770,798
(52,121)
(20,299)
724,135
750,499
1,065,553
757,020
482,700
482,700
582,853
274,320
1,065,553
757,020		 2021
Group
Parent
£
£
341,418
6,520
-
1
341,418
6,521
1,633
-
104,014
198,961
670,609
571,837
776,256
770,798
(52,121)
(20,299)
724,135
750,499
1,065,553
757,020
482,700
482,700
582,853
274,320
1,065,553
757,020
6,521
-
198,961
571,837
770,798
(20,299)
750,499
757,020
482,700
274,320
757,020

The financial statements were approved by the Trustees on the 2023 and signed on their behalf by:

__________ Ravindra Chamaria (Chair and Trustee)

14

THE AKSHAYA PATRA FOUNDATION UK

CONSOLIDATED STATEMENT OF CASH FLOWS

AS AT 31[ST] MARCH 2022

Cash flows from operating activities:
Net cash provided by/(used in) operating activities
Cash flows from investing activities:
Purchase of property, plant and equipment
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of the
reporting period
Cash and cash equivalents at the end of the
reporting period
Reconciliation of net income/(expenditure) to net cash flow from
Net income/(expenditure) for the reporting period
Depreciation charges
(Increase)/decrease in stock
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities
Analysis of changes in Net Debt
At 1.04.2021
£
Cash and cash equivalents
670,609
670,609		 Cash flows from operating activities:
Net cash provided by/(used in) operating activities
Cash flows from investing activities:
Purchase of property, plant and equipment
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of the
reporting period
Cash and cash equivalents at the end of the
reporting period
Reconciliation of net income/(expenditure) to net cash flow from
Net income/(expenditure) for the reporting period
Depreciation charges
(Increase)/decrease in stock
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities
Analysis of changes in Net Debt
At 1.04.2021
£
Cash and cash equivalents
670,609
670,609		 Cash flows from operating activities:
Net cash provided by/(used in) operating activities
Cash flows from investing activities:
Purchase of property, plant and equipment
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of the
reporting period
Cash and cash equivalents at the end of the
reporting period
Reconciliation of net income/(expenditure) to net cash flow from
Net income/(expenditure) for the reporting period
Depreciation charges
(Increase)/decrease in stock
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities
Analysis of changes in Net Debt
At 1.04.2021
£
Cash and cash equivalents
670,609
670,609		 2022
2021
£
£
63,151
890,815
(71,988)
(371,074)
(71,988)
(371,074)
(8,837)
519,741
670,609
150,868
661,772
670,609
operating activities
2022
£
2021
£
(222,059)
915,002
83,615
39,371
(7,640)
(1,633)
(106,740)
(103,697)
315,975
41,772
63,151
890,815
Cash Flows
At
31.03.2022
£
£
(8,837)
661,772
(8,837)
661,772		 2021
£
890,815
(371,074)
(371,074)
519,741
150,868
670,609
670,609 (8,837)

15

THE AKSHAYA PATRA FOUNDATION UK

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2022

1. ACCOUNTING POLICIES

a) Basis of Accounting

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011.

The Akshaya Patra Foundation UK 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 policies.

The financial statements are presented in pounds sterling.

b) Group Accounts

The financial statements consolidate the results of the charity and its wholly owned subsidiary Akshaya Patra U.K. Limited on a line by line basis.

c) Going Concern

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this assessment in respect to a period of one year from the date of approval of these financial statements.

In particular, the Trustees regularly review detailed cashflow projections including all expenses, and expected income. The Trustees, having considered the projections and risks described above have a reasonable expectation that adequate financial resource will continue to be available for the foreseeable future. Based on this the trustees have concluded that the charity remains a going concern.

d) Judgements and key sources of estimation uncertainty

Judgements and key sources of estimation uncertainty are detailed in the accounting policy where applicable.

e) Incoming Resources

The incoming resources of the charity have been recognised once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

16

THE AKSHAYA PATRA FOUNDATION UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2022

1. ACCOUNTING POLICIES (continued)

f) Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. The Parent charity is unable to recover VAT on its expenditure and any VAT arising is included as part of the expenditure to which it relates.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

g) Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the statement of financial activities.

h) Financial Instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments, including its debtors and creditors. These are initially recognised at transaction value and subsequently valued at their settlement value. Cash and cash equivalents comprise cash in hand and call deposits and are subject to an insignificant risk of change in value.

17

THE AKSHAYA PATRA FOUNDATION UK

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2022

1. ACCOUNTING POLICIES (continued)

i) Depreciation of Tangible Fixed Assets

Tangible fixed assets costing £150 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. Depreciation is provided on the following bases:

Leasehold property Life of the lease
Motor vehicle 25%
Plant, machinery and others 10-25%

j) Funds

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

k) Pensions

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

18

THE AKSHAYA PATRA FOUNDATION UK

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2022

2. INCOME FROM DONATIONS AND LEGACIES

GROUP
Campaigns
Donations from individuals
Corporate donations
Trust donations
Gift aid
Donations for The Akshaya
Patra Foundation India
Donations for The Akshaya
Patra Foundation UK
Capital funds
Kitchen operations
Nourish to Flourish
UK Programme
Homeless feeding
Covid UK Campaign
Apprentice kickstart
Other donations
Ukraine campaign
Other donations
GROUP TOTAL
Donation from Akshaya Patra
UK Ltd
Donation received by Akshaya
Patra UK Ltd
PARENT TOTAL
Comparative
GROUP
Campaigns
Donations from individuals
Corporate donations
Gift aid
Donations for The Akshaya
Patra Foundation India
Donations for The Akshaya
Patra Foundation UK
Capital funds
Kitchen operations
Nourish to Flourish
UK Programme
Homeless feeding
Covid UK Campaign
Other donations		 Unrestricted
£
43,668
31,838
-
17,174
92,324
-
-
-
-
-
-
-
-
-
-
16,868
201,872
62,088
(600)
263,360
Unrestricted
£
69,025
80,514
-
146,588

-

-
-
-
-
-
-
26,754
322,881		 Restricted
£
-
-
-
-
-
927,464
27,590
145,000
113,713
199,572
546
-
14,538
2,776
17,284
-
1,448,483

-
-
1,448,483
Restricted
£
-
-
-
-
1,048,034
449,059
145,000
155,559
49,425
25,261
54,151
-		 2022
£
43,668
31,838
-
17,174
92,324
927,464
27,590
145,000
113,713
199,572
546
-
14,538
2,776
17,284
16,868
1,650,355
62,088
(600)
1,711,843
2021
£
69,025
80,514
146,588
1,048,034
449,059
145,000
155,559
49,425
25,261
54,151
26,754
2,249,370		 2021
£
69,025
80,514
-
-
146,588
1,048,034
449,059
145,000
155,559
49,425
25,261
54,151
-
-
-
26,754
2,249,370

1,926,489

20

THE AKSHAYA PATRA FOUNDATION UK

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2022

3. CHARITABLE ACTIVITIES

GROUP
Holiday Clubs
4.
CHARITABLE ACTIVITIES

GROUP
Feeding programmes
Direct costs
Staff costs
Grants
The Akshaya Patra Foundation India
Support costs

PARENT
Feeding programmes
Direct costs
Staff costs
Grants
The Akshaya Patra Foundation India
The Akshaya Patra UK Ltd
Support costs
 2022
£
293,811
476,808
980,861
215,591		 2022
2021
£
£
94,657
35,810
94,657
35,810
2021
£
228,554
280,136
717,379
130,277
1,356,346
2021
£
100,171
214,928
717,379
502,219
129,177
1,663,874		 2021
£
35,810
35,810
1,967,071
2022
£
32,627
147,329
980,861
542,997
166,142
1,869,956

20

THE AKSHAYA PATRA FOUNDATION UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2022

5 . SUPPORT COSTS

GROUP
Depreciation
Printing and postage
Premises costs
Travel and subsistence costs
Bank charges
IT software and expenses
Professional fees
Contractors costs
Irrecoverable VAT
General expenses
PARENT
Depreciation
Printing and postage
Premises costs
Travel and subsistence costs
Bank charges
IT software and expenses
Professional fees
Contractors costs
Irrecoverable VAT
General expenses
6. DIRECT COSTS
GROUP
Marketing costs
Printing and postage
Premises costs
Distribution costs
Depreciation
Donation processing charges
COVID UK feeding costs
UK holiday club feeding costs
UK feeding programme		 Total
2022
£
3,531
-
-
-
1,856
7,591
35,202
113,891
33,326
20,194
215,591
Total
2022
£
3,531
-
-
-
1,396
7,591
25,358
113,891
-
14,375
166,142
Total
2022
£
24,773
4,233
47,405
32,349
80,084
7,854
-
81,853
15,260
293,811		 Total
2021
£
6,134
614
12,773
9,642
1,738
7,418
17,348
74,169
-
441
130,277
Total
2021
£
6,134
614
12,773
9,642
1,738
7,418
16,248
74,169
-
441
129,177
Total
2021
£
-
-
-
-
-
-
40,500
60,751
127,303
228,554

21

THE AKSHAYA PATRA FOUNDATION UK

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2022

6. DIRECT COSTS (continued)
PARENT
Marketing costs
Donation processing charges
COVID UK feeding costs
UK holiday club feeding costs
UK feeding programme		 Total
2022
£
24,773
7,854
-
-
-
32,627		 Total
2021
£
-
-
40,500
59,671
-
100,171

7. STAFF COSTS

2022
£
Gross Salaries
425,611
Social Security costs
44,112
Pension costs
7,085
476,808
Key management personnel -
Total employment costs
266,780
The number of employees whose employee benefits exceeded £60,000 was:
£130,001 - £140,000
1		 2021
£
249,783
26,807
3,547
280,137
134,591
1

Key Management Personnel consist of senior management team. The total employment costs of the five members (2021: one member) of the senior management team was £266,780 (2021: £134,591).

The average number of employees during the year was 12 (2021: 6).

8. FIXED ASSETS

GROUP
Cost
At 1stApril 2021
Additions
Disposals
At 31stMarch 2022
Depreciation:
At 1stApril 2021
Provided during the year
Disposals
At 31stMarch 2022
Net Book Value at
31st March 2022
Net Book Value at
31st March 2021		 Leasehold
property
£
231,331
5,375
-
236,706
23,133
47,341
-
70,474
166,232
208,198		 Plant,
machinery
and others
£
141,264
36,866
-
178,130
12,303
31,322
-
43,625
134,505
128,961		 Motor
vehicle
£
18,590
29,747
(18,590)
29,745
14,331
4,952
(18,590)
692
29,054
4,259		 Total
£
391,185
71,988
(18,590)
444,583
49,767
83,615
(18,590)
114,792
329,791
341,418

22

THE AKSHAYA PATRA FOUNDATION UK

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2022

8. FIXED ASSETS (CONTINUED)

PARENT CHARITY
Plant,
machinery
and others
£
Cost
At 1stApril 2021
4,460
Additions
4,534
At 31stMarch 2022
8,994
Depreciation:
At 1stApril 2021
2,199
Provided during the year
1,224
At 31stMarch 2022
3,423
Net Book Value at
31st March 2022
5,571
Net Book Value at
31st March 2021
2,261
9.
INVESTMENT IN SUBSIDIARY UNDERTAKING
PARENT CHARITY
At Cost:
100% Ord. Share Capital of Akshaya
Patra UK Limited		 Motor
vehicle
Total
£
£
18,590
23,050
-
4,534
18,590
27,584
14,331
16,530
4,259
5,483
18,590
22,013
-
5,571
4,259
6,520
2022
2021
£
£
1
1

The total income of Akshaya Patra U.K. Limited was £638,254 (2021: £503,224) and the loss for the year was £1,858 (2021: surplus £308,533). The net assets at 31 March 2022 amounted to £244,587 (2021: net assets £308,533).

10. DEBTORS

Amount due from subsidiary
company
Accrued income
Rent deposit
Other Debtors and
Prepayments		 2022
Group
£
-
148,662
32,400
29,692
210,754		 2022
Parent
£
130,673
148,662
-
1,817
281,152		 2021
Group
£
-
-
32,400
71,613
104,013		 2021
Parent
£
127,348
-
-
71,614
198,962

11. CASH AT BANK AND IN HAND

2022 2022 2021 2021
Group Parent Group Parent
£ £ £ £
Bank Balances 661,772 607,869 670,609 571,837

23

THE AKSHAYA PATRA FOUNDATION UK

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2022

12. CREDITORS: Amounts falling due within one year

Trade creditors
Other taxation and
social security
Pension creditor
Other creditors
Grants payable
Accruals		 2022
Group
£
-
78,315
1,778
287
266,860
20,857
368,096		 2022
Parent
£
-
10,747
1,778
287
266,860
16,014
295,686		 2021
Group
£
6,807
8,268
783
25,993
-
10,270
52,121		 2021
Parent
£
-
8,268
783
978
-
10,270
20,299

13. TRUSTEES’ REMUNERATION AND EXPENSES

Bhawani S Shekhawat, the charity’s chief executive officer was also appointed as a trustee of the charity on 30 July 2020. The charity’s governing document allows trustees to be remunerated. He is not remunerated for his role as a trustee of the charity. His total cost of employment, including employer national insurance and pension scheme contributions, for the whole accounting period was £136,660 (2021: £134,591).

Other than the remuneration of the CEO, no remuneration, directly or indirectly, out of the funds of the Charity was paid or payable for the year to any Trustee or to any person or persons known to be connected with any of them other than that disclosed in note 15.

14. TAXATION

The Akshaya Patra Foundation UK is a registered charity and is potentially exempt from taxation in respect of income and capital gains received within the categories covered by Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied to exclusively charitable purposes.

15. RELATED PARTY TRANSACTIONS

The charity’s CEO was appointed as a Trustee on 30 July 2020 and his total cost of employment, including employer national insurance and pension scheme contributions, for the whole accounting period was £136,660 (2021 : £134,591). Employment of trustees is permitted by the Trust Deed and this appointment is considered to be in the best interest of the Charity.

The Trustees are all supporters of The Akshaya Patra Foundation India. The UK charity made donations totalling £980,861 to The Akshaya Patra Foundation India in the year (2021: £717,379).

There were no other related party transactions.

24

THE AKSHAYA PATRA FOUNDATION UK

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2022

16. RESTRICTED FUNDS

Group and Parent
charity
UK
Donations
for
UK
feeding/ UK programme
Kitchen operations
Capital funds
Nourish to Flourish
Homeless feeding
COVID UK campaign
Apprentice kitchen
Restricted for UK
INDIA
COVID 19 India
Food for education
School pledges
Restricted fund for India
Restricted for Ukraine		 Balance
b/f
Income
Expenditure
Transfers
Balance
c/f
£
£
£
£
£
75,405
199,572
(274,977)
-
-
-
145,000
(145,000)
-
-
75,467
27,590
(103,057)
-
-
46,971
113,713
(160,684)
-
-
20,261
546
(20,807)
-
-
13,651
-
(13,651)
-
-
-
14,538
(14,538)
-
-
-
2,776
(2,776)
-
-
231,755
503,735
(735,490)
-
-
4,419
386,306
(351,652)
(39,073)
-
174,608
419,972
(455,414)
(139,166)
-
9,696
109,208
(107,013)
(11,891)
-
62,222
11,979
(66,782)
(7,419)
-
250,945
927,465
(980,861)
(197,549)
-
-
17,283
-
-
17,283
482,700
1,448,483
(1,716,351)
(197,549)
17,283

The transfer to unrestricted funds represents of the contribution from India grant income to UK Charity core costs.

25

THE AKSHAYA PATRA FOUNDATION UK

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2022

16. RESTRICTED FUNDS (continued)

COMPARATIVE 2021

Group and Parent
charity
UK
Donations
for
UK
feeding/ UK programme
Kitchen operations
Capital funds
Nourish to Flourish
Homeless feeding
COVID UK campaign
INDIA
COVID 19 India
Food for education
School pledges
Restricted fund for India		 Balance
b/f
Income
Expenditure
Transfers
Balance
c/f
£
£
£
£
£
25,980
49,425
-
75,405
-
145,000
(65,000)
(80,000)
-
(4,210)
449,059
-
(369,382)
75,467
-
155,559
(60,751)
(47,837)
46,971
-
25,261
-
(5,000)
20,261
-
54,151
(40,500)
-
13,651
-
601,450
(597,031)
-
4,419
-
234,469
(59,861)
-
174,608
-
122,115
(112,419)
-
9,696
-
90,000
(27,778)
-
62,222
21,770
1,926,489
(963,340)
(502,219)
482,700

The transfer from capital funds represents funds spent on purchasing and fitting out a commercial kitchen which fulfilled the fund’s restriction. The other transfers represent reimbursement of unrestricted funds for expenditure relating to the achievement of the purpose of the individual restricted funds.

26

THE AKSHAYA PATRA FOUNDATION UK

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2022

17. UNRESTRICTED FUNDS

2022
Group
£
General Reserve
581,624
Non-charitable funds held in
subsidiary
244,587
826,211
CURRENT YEAR
Balance
b/f
Income
£
£
General Reserve
274,320
201,272
Non-charitable funds
held in subsidiary
308,533
95,257
582,853
296,529
PRIOR YEAR
General Reserve
Non-charitable
funds
held in subsidiary
128,781
-
357,686
1,005
General reserves
128,781
358,691		 2022
Group
£
General Reserve
581,624
Non-charitable funds held in
subsidiary
244,587
826,211
CURRENT YEAR
Balance
b/f
Income
£
£
General Reserve
274,320
201,272
Non-charitable funds
held in subsidiary
308,533
95,257
582,853
296,529
PRIOR YEAR
General Reserve
Non-charitable
funds
held in subsidiary
128,781
-
357,686
1,005
General reserves
128,781
358,691		 2022
Parent
£
581,624
-
581,624
Expenditure
£
(91,517)
(159,203)		 2021
2021
Group
Parent
£
£
274,320
274,320
308,533
-
582,853
274,320
Transfers
Balance
c/f
£
£
197,549
581,624
-
244,587
197,549
826,211
-
502,219
274,320
308,533
502,219
582,853		 2021
Parent
£
274,320
-
274,320
582,853
296,529		 (250,720)
128,781
-
357,686
1,005		 (212,147)
(194,691)
128,781
358,691		 (406,838)

18. ALLOCATION OF NET ASSETS FOR THE GROUP

The net assets are held for the various funds as follows: -

Fixed
Assets
£
Restricted Funds
-
Unrestricted Funds
329,791
329,791
COMPARATIVE 2021
Fixed
Assets
£
Restricted Funds
-
Unrestricted Funds
341,418
341,418		 Current
Assets
£
388,069
493,730
881,799
Current
Assets
£
482,700
293,556
776,256		 Current
Liabilities
£
(266,861)
(101,235)
(368,096)
Current
Liabilities
£
-
(52,121)
(52,121)		 Total
£
121,208
722,286
843,494
Total
£
482,700
582,853
1,065,553

27

THE AKSHAYA PATRA FOUNDATION UK

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2022

19. NET INCOME/(EXPENDITURE)

This is stated after charging: 2022 2021
£ £
Depreciation of tangible fixed assets 83,615 39,371
Auditor’s remuneration 9,420 8,720

20. FINANCIAL COMMITMENTS

The charity's total future minimum lease payments under non-cancellable operating leases (all for property) is as follows for each of the following periods:

Less than one year
One to Five years		 2022
£
38,000
90,000
128,000		 2021
£
36,000
129,000
165,000

28

THE AKSHAYA PATRA FOUNDATION UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2022

21. CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

INCOME FROM
Donations and legacies
Investments
Other income
Total
EXPENDITURE ON
Raising funds
Charitable Activities
Total Resources Expended
Income/(Expenditure) for the year
Gross transfers between funds
NET MOVEMENT IN FUNDS
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
2021
£
£
£
322,881
1,926,489
2,249,370
-
-
-
35,810
-
35,810
358,691
1,926,489
2,285,180
13,914
-
13,914
393,006
963,340
1,356,346
406,838
963,340
1,370,178
(48,147)
963,149
915,002
502,219
(502,219)
-
454,072
460,930
915,002
128,781
21,770
150,551
582,853
482,700
1,065,553

29

THE AKSHAYA PATRA FOUNDATION UK

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2022

22. PARENT CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

INCOME FROM
Donations and legacies
Investments
Other income
Total
EXPENDITURE ON
Raising funds
Charitable Activities
Total Resources Expended
Income/(Expenditure) for the year
Gross transfers between funds
NET MOVEMENT IN FUNDS
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
2021
£
£
£
322,881
1,926,489
2,249,370
-
-
-
34,805
-
34,805
357,686
1,926,489
2,284,175
13,832
-
13,832
700,534
963,340
1,663,874
714,366
963,340
1,677,706
(356,680)
963,149
606,469
502,219
(502,219)
-
145,539
460,930
606,469
128,781
21,770
150,551
274,320
482,700
757,020

30