THE KANTA FOUNDATION TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 CHARITY NUMBER: 1119759
THE KANTA FOUNDATION Reference and Administrative Details For the ear ended 30 A ril 2024 Charit Number: 1119759 istered Of f ice: Kanta House Victoria Road, South Ruislipp Middlesex HA4 OJQ Trustees= Mr. S J Chatwani Mr. R J Chatwani Mr. J J Chatwani Mr. B Tailor Mr. R Banga Inde endent exatnineT: Noor Choudhary FCA Capshire UK LLP 86~90 Paul Street London EC2 A 4NE Bankers.. Coutts & Co 440 Strand London WC2R OQS
THE KANTA FOUNDATION REGISTERED AS A CHARI CONTZNTS PAGE Report of the Trustees Independent Examiner's Report Statement OE Financial aetivitRes Statement of Einancial position Cashflow Statement Notes to the Financial Statements 8-11
THE KANTA FOUNDATION REPORT OF THE TRUSTZES FOR THE YEAR Ef4DED 30 APRIL 2024 The trustees present their annual report and Einancial statements of the chartty for the year ended 30 April 2024. The financial statements have been prepared in accordance with the accountin8 policies set out in note I to the account5 and comply with the charity's trust deed, the Charittes Act 2011 and Accountins and the Charities Statement of Recommended Practice (second edttion) and Financial Reporting Standard FRS 102. Objectives and aims The trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Charity's CommÉssion's geTheral guidance on public benefit "Charities and Public Benefit" The Trustees, Report clearly sets out the charitable objectives, OUT current activities arld how they benefit the public. The Kanta foundation is comrnitted to WQTk in the areas of advancement of education, relief OE Poverty, Social welfare, spiritual and cultural activities. The aim is to help those who need Èt the most, without any discrimination of caste, creed, colour. gender or religion. The trust carries out these objectives through the provision of grants to charities which fall within the criteria. ACHIEVEYIENT AfiD PERFORf+fANCE Charitable activities In the year. the trust has supported charitie5 totallins £124,963 (2023= £34,831). Durin8 the year the charity has supported various charitable and spirxtual organisation. The Charity continued its support to those, who are workins for the furtherante of the Charity's objectives. Details of how to apply Eor grants are available at the principal addres5 of the charity and also, the grants are made through the tru5tees' contacts and word of mouth. Principal risks and uncertalnties The trustees ronsider there to be no sigraificant risks or uncertainties to the charity; however they continuously monitOT Potential risks, including sustainability, regulatory compliance, and operational effectiveness. Financial posAtion The net rncome for the year amounted to £781,149 (2023.. £224,441) and further details of this are contained in the 5taEement of financial activities. Takxng account of the availability of workins capital, the trustees have concluded that the trust will be able to continue to meet its oblisations as they fall due EOT at least twelve months from the date of approval of these financial statement5. ConseqTJently, these f inancial statements have been prepared on the basis that the trust is a 80in8 concern. Reserves policy The actual level of reserves at 30 April 2024 was a surplu5 of £2,436,506 12023= £1,655,357). The Trustees review on an annual basis the charity's development and operational plans, future funding needs and ils overall resilience and Einancial stability in light of its ability to meet its charitable objectxves for the foreseeable future. The trustees aim to maintain free leserves in unrestricted funds al a level which equates to approximately twelve months of unrestricted charitable expenditure. The trustees consider that thts level will provide sufficient funds to respond to applications for gr4nt5 and ensure that support and governance costs are covered.
THE KANTA FOUNDATION REpowf OF THE TRUSTEES FOR THE YUR ENDED 30 APRIL 2024 (Continued) STRUCTURE GOVERNANCE AND MANAGEMEfiT The charity is controlled by its 8overning docurneTht, a deed of trust and constitutes an unincorporated charity. The trust is an unincorporated trust, constituted under a Trust Deed dated 4th June 2007 and is a registered charity, number 1119759. The trust does not actively fundraise and seeks to continue its chari table actl VLties through the careful stewardship of its existing resources. The Trustees meet regularly to manage the afEairs of the charity. One of the trustee Mr Satish Chatwani is a full-time administrator for the day-to-day running of the charÈty and he is in re8ular contact with the other trustees. The following trustees served durtng the year.. S J Chatwani R J Chatwani J Chatwani B Tailor R Banga Trustees are appoÈnted and removed by the Board of Trustees. Key management remuneration The trustees consider the board of trustees and the Chair as comprisins the key management peTsonnel of the char&ty in Charge of directing and controlling the charity and running and operating the charity on a day-to-day basts. All trustees gÈve of their time freely and no trustee remuneration was paid in the year. The trustee5' report was approved by the Board of Trllstees. STATEMENT OF TRu*fEES' RESPONSIBILITIES The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Untted Kingdom Generally Accepted Accountins Practice}. The law applicable to chartties in Ensland and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires Ehe trustee5 to prepare financial statements Eor each financial year which give a true and fair view OE the Stale of aEEairs of the charity and OE the incomins resources and application of resources. Én¢ludins the income and expenditure, of the charity for that period. In PTeparins those financial Statements, the trustees are requtred to: select suitable accountin8 policies and then apply them consistently,. Observe the methods and principles in the Charity SORP,. make judgements and estimates that are reasonable and prudent,. State whether applicable UK Aecounting Standards have been followed, subject to any material departures disclosed and explained in the financÉal statements; prepare the financial statements on the goins concern basis unless it is inappropriate to presume that the charity will continue in business.
THE KANTA FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024 (Continued) STATEMENT OF TRUSTEES, RESPONSIBILIT Tlie trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the Einancial position of the charity and to enable theni to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. Tliey are also responsible For safeguarding the assets ol the charity and hence for taking reasonable steps (or the preventÉon and detection of fraud and other irregularities. Approved by order OF the board OF trustees 011 27 February 20?5 and signed on its behalf by.. S J Chatwani (Trustee) Kanta House, Victoria Road South RuisEip Middlesex HA4 OJQ
THE KANTA FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE KANTA FOUIqDATION Teport to the trustees on my examination of the financial statements OE The Kanta Foundation I'the charity,) for the year ended 30 April 2024. Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation OE the accounts in accordance with the requirements of the Charities Aet 2011 {"the Act"). report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed aEl the applÉcable Directions siven by the Charity Commission under section 145(5)(b> of the Act. Independent examiner's staternent The chaTlty's sross income exeeeded £250,000 and l am qualified to undertake the examination by being a qualified member of Institute of Chartered Accountants in Ensland and Wales. I have completed my examination. I confirm that no material matters have eorne to my attention in connection with the examination (other than that diselosed below ') which gives me eause to believe that in, any materfal respect-. the accounting records were not kept in accoEdaThce with section 130 of the Charities Act,. or the accounts did not accord with the accounting reeords,- or the accoFJnts did Thot comply with the applicable Tequirements conceFning the form and content OE accounts set out in the Charities (Accourkt5 and Report51 Regulations 2008 other than any requirement that the accounts give a 'true and fair. view which is not a matter considered a5 part OE an independent exaEnination. I have no concerns and have come across no othet matters connectioTh with the examfftnation to which attention should be dTawn in this report in order to enable a proper understandin8 of the accounts to be reached. Noor Choudhary FCA Endependent Examiner Capshire UK LLP 86-90 Paul Street London, EC2A 4NE 27 February 2025
THE KANTA FOUNDATEON STATXMENT OF FINANCIAL ACTIVITIES Includln Income and e endlture a¢count FOR THE YEAR ENDED 30 A rll 2024 2024 Unrestricted Eunds 2023 Unrestricted funds Notes INCOME FROM: Donations and legacies 835.000 260,000 Investment income Total ineonie 909 265 260 000 EXPENDITURE ON: Charitable activities= Congregational activities 128 116 Total Expenditure 128 116 NET INCOME 224 RECONCILIATION OF FUNDS: Total funds brought forward 1 655 357 1 430 916 Total funds carried forward The statement of financial activities includes gains and losses recognised in the year. No separate summary Income and Expenditure Account has been produced as this statement incorporate5 all Income and Expenditure. All Income and expenditure derive from continuing activities. The notes on pages 8 to 11 form part of these financial statements.
THE KANTA FOUNDATION STATEMENT OF FINANACIAL POSITION AS AT 30 APRIL 2024 2024 Unrestricted funds 2023 UnrestrÈcted funds NOTE CURRENT ASSETS Debtors Cash at bank 15,212 2 422 294 4,000 1 651 357 2,437,506 1,655,357 CREDITORS: Amounts falling due within one year NET CURRENT ASSETS 2 436 506 1 655 357 TOTAL AssFfs LESS CURRENT LIABILITIFS 2 436 506 1 655 357 ASSFXS REPRESEfiTED BY Unrestricted Funds 2 436 506 1 655 357 TOTAL FUNDS These financial statements were approved by the Board of Trllstees on 27 February 2025 and signed on its behalf by.. S J CHATWANI (Trustèe, The notes on pages 8 to li form part of these financial statements.
THE KANTA FOUNDATION CASHFLOW STATEMEirr FOR THE YEAR ENDED 30 A rll 2024 2024 2023 Net 0VeMentS in funds 781,149 224,441 Interest received (74,265) Movements in Debtors Movements in Creditors 111,2121 Cash from operating activities 696,672 224,441 Cash flow Erom investment aetivitles Purchase of tangÈble fixed assets Interest received Cash used in investment activities Inerease in cash and cash equivalent 770,937 224,441 Cash equivalent at the start of the year 1 651 357 1 426 916 Cash and cash equivalent at the end of the year Anal sis of movement in net Fvnd At 01.05.2023 Cash flow At 30.04.2024 Cash & cash equivalents Cash in hand at bank 1 651 357 770 937 2 422 294 Total The notes on pages 8 to 11 form part OE these Einancial statements.
THE IWITA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 A ru 2024 General Informatlon The Kanth Foundation is an unincorporated trust, constituted under a Trust Deed dated 04 June 2007 and is a registered charity in Ensland and Wales, under the charity esistered number 1119759, registered at Kanta House, Victoria Road, south Ruislip Middlesex, HA4 0]Q. Accountins Poli¢ie$ (a) Basis of preparins the f inancial statenients The financial statements of the charity, which is a public beneEit entity under FRS 102. have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and ReportÈng by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Ftnancial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 2019}', Financial Reporting Standard 102 'The Financial Reporting Standard applicable Èn the UK and Republic of Ireland, and the ChaTlties Act 2011. The financial statements have been prepared under the historical cost convention. with the exception of investments which are included at Trarket value, as modtfied by the revaluation of certain a55ets. (b) Going concern The financial statements have been Prepared on a 8oin8 concern basis. The Trustees have reviewed and Considered relevant inforEnation, including the annual budget, in making their assessment. Based on these assessment5 and the current resourees available, the Trustees have concltsded that they can contÈnue to adopt the going concern basis in preparing the annual report and accounts. Ic) Income All income Ès recognised in the Statement of FinancRal Activities once the charity has entitlement to the Eunds,- it is probable that the income will be received and the arnount can be measured reliably. Income received in the form of assets rather than cash is reco8nised at tts fair vallle at that date. (d) Expenditure LKabilitie5 are recognised as expenditure as soon as there 15 a lesal or constructive obligation committins the charity to that expenditure. it is probable that a transfer OE econornic benefÈts will be required in Settlement and the amount of the obligation can be measured reliably. Expenditure Rs accounted for on an accruals basis and has been classified under headings that agsresate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Grant5 payable are payments made to third parties in the furtherance of the charitable objectives of the trust. Single or multi year srants are accounted for when either the recipient has a reasonable expectation that they will receive a srant and the trustees have agreed to pay the grant without conditton, or the recipient has a reasonable expectation that they will receive a grant and any condition alta¢hing to the grant is outside OE the control OE the trust. le) Taxation The cEiarity is exempt from tax on it5 charitable activities.
THE KAirrA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 A rll 2024 Accountins Policxes (continued) (f) Fund a¢¢ountin8 Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charlty. Restrictions arise when speeified by the donor or when funds are raised for partkcular restricted purposes. Further explanation of the nature and purpose of each fund Is included in the notes to the finaneial statemeThts. {g) Interest receivable Interest on ftsnds held on deposit is Included when receivable and the amount can be measured reliably by the company,. this is normally upon notification of the iThterest paid or payable by the Bank. {h) Debtor9 Trade and other debtors are Tecognised at the settlement amount after any trade discoune offered. PrepayEnents are valued at the amount prepaid net of any trade discounts due. (i) Cash at Bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments WLth a short maturity of thTee months or less from the date of acquisition or opening of the deposit OT similar account. lj) LiabilAties and provisions Liabilities are recognised when there is an obligatton at the Balance sheet date as a result of a past event. il is probable that a transfer of economic benefit will be requÉred in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company antierpates it will pay to settle the debt or the amount it has received as advanced payments for the goods or service5 It must provide. Provisions are measured at the best estimate of the amounts required to settle the obli8atxon. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reElect5 the risks specific to the liabtlity. The unwindins of the discount IS Tecosnised with&n interest payable and similar charges. Ik) Irrecoverable VAT Irrecoverable VAT is char8ed against the category of resources expended for what it was incuTred. (11 Charitable activities Costs of charitable activities include grants made and sovernance costs incurred. Im) Governance costs Governance costs comprise all costs Involving the public accountability of the charity and its compliance with resulation and good practice. These costs Include costs related to statutory audit and legal fees tosether wtth overhead and support costs.
THE IL4NTA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YUR ENDED 30 A rll 2024 (Continued) Donations and legacies 2024 2023 General Donations Fatrview Hotels Limited Kanta Enterprises Limited Davis & Dann Limited 500,000 335,000 260 000 Investment Income 2024 2023 terest on Bank deposits Expenditure on congregational activities 2024 2023 Analysis of total expenditure Charitable activities; Covernance cost Donations Bank charge 2,000 124,963 34,831 728 The total Donations paid to various charittes and instituttons during the year was as follows: 2024 2023 Asian Foundation for Help Vaseroft Foundation Sanatan Hindu Mandir Wembley Haridham UK Anoopam Mission Silver Star Vallabh youth Organisation Cameron's Companion5 Raguvanshi Mahajan London {Rama) British Asian Trust Akshaya Patra Foundation UK charity Indian Association for Promotion of Adoption & Child WeEEare Cord Skdhbari India BAPS HÈndu Mandir Chrysalis Multi Academy trust Variety Chil dren's Charity Healins Little Hearts Kindheart JustGivin8 7,500 500 5,001 I,ooi 60,243 501 3,651 501 20.000 15,000 5,000 4,500 16,001 580 1,750 I,ooi 2,501 813 4.500 4,000 2,350 1,900 10
THE KANTA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 A rll 2024 (Coiitinued) Trustees, Remuneratlon and Beneflts There were no trustees, remuneration or other benefits for the year ended 30 April 2024 and nor for the year ended 30 April 2023. Trustees 'expenses There were no tru5tees' expenses paid for the year elided 30 April 2024 and nor for the year ended 30 April 2023. Debtors: Amounts falling due withAn one year 2024 2023 Interest receivable Other debtors 12,212 £1 212 Creditors: Amounts falling due within one year 2024 2023 Accruals Movement in funds 01.05.2023 Income enditure Transfers 30.04.20?4 Unrestricted funds General fund 1 655 357 835 000 128 116 2 436 506 Comparatives for movement in funds 01.05.2022 Income enditure Transfers 30.04.2023 Unrestricted funds General fund 1 430 916 260 000 1 655 357 10. Related parties During the year tlie charity received donations of £835,000 (2023.. 260,000) from tlie related parties,- Where Mr S J Chatwani. R ] Chatwani and ] J Chatwani are directors.