**REGISTERED CHARITY NUMBER: 1124912** Report of the Trustees and Unaudited Financial Statements for the Year Ended 30 April 2025 for Ratanben Zaverchand Kara Foundation TC Group First Floor Spitalfields House Stirling Way Borehamwood Hertfordshire WD6 2FX Ratanben Zaverchand Kara Foundation Contents of the Financial Statements for the Year Ended 30 April 2025 |||Page|| |---|---|---|---| |Report of the Trustees|1|to|2| |Independent Examiner's Report||3|| |Statement of Financial Activities||4|| |Balance Sheet||5|| |Notes to the Financial Statements|6|to|12| |Detailed Statement of Financial Activities||13|| Ratanben Zaverchand Kara Foundation ## Report of the Trustees for the Year Ended 30 April 2025 The Trustees present their annual report and financial statements for the year ended 30 April 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Trust's governing document, the Charities Act 2011 and "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). ## **OBJECTIVES AND ACTIVITIES** The Trust's objects are: - to develop the capacity and skills of socially and economically disadvantaged children and adults in the United Kingdom, Kenya and India and elsewhere overseas as the trustees determine. - the relief of financial hardship amongst socially and economically disadvantaged children. - to advance the education and training of socially and economically disadvantaged children with a view to enabling them to participate in their community and develop and realise their potential. - to preserve and protect the physical and mental health of socially and economically disadvantaged children. - the provision of facilities for recreation or other leisure time occupation with the object of improving the conditions of life of those persons who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances. - to provide education and training to 'carers' within professional bodies, lay people and those working within government structures in developing countries and to raise awareness in the United Kingdom of the issues facing such disadvantaged children in order to further the aforementioned objects. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake. The trustees confirm that they have referred to the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. ## **ACHIEVEMENTS AND PERFORMANCE** The Trust received income arising from rentals of its freehold and long leasehold properties. The Trust provided charitable grants to various charity organisations and individuals as per its objectives. ## **FINANCIAL REVIEW** The detailed results are shown on page 4. It is the policy of the Trust that unrestricted funds which have not been designated for a specific use should be maintained at a level to support current activities and continuation of the provision of the Trust's objectives while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The Trustees actively review the major risks, which the Trust faces, on a regular basis and believe that the controls over the key financial system will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks faced by the Trust and confirm that they have established systems to mitigate the significant risks. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** Ratanben Zaverchand Kara Foundation is a Trust governed by a trust deed dated April 2008 when the Trust was formed. It is registered as a charity in England and Wales with registration number 1124912. The principal address is 7 Ranmore Avenue, Croydon, Surrey CR0 5QA. The Trust is also known as RZK Foundation. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Charity number** 1124912 Page 1 Ratanben Zaverchand Kara Foundation ## Report of the Trustees ## for the Year Ended 30 April 2025 ## **Principal address** 7 Ranmore Avenue Croydon Surrey CR0 5QA ## **Trustees** M.D Shah (resigned 25.11.24) Mrs V.M Shah A.D Shah Mrs T Shah S.D Shah S.D Shah Mrs A.S Shah Mrs K.S Shah Ms R Shah (appointed 7.2.25) Mrs D.K Shah (appointed 6.6.25) S.A Shah (appointed 6.6.25) R Shah (appointed 6.6.25) ## **Independent Examiner** TC Group First Floor Spitalfields House Stirling Way Borehamwood Hertfordshire WD6 2FX The Trustees who served during the year and up to the date of signature of the financial statements were: Mrs Vanita Shah Mr Arvindkumar Shah Mrs Tara Shah Mr Suresh Shah Mrs Anjana Shah Mr Sailesh Shah Mrs Karuna Shah Ms Remy Shah Trustees are recruited from people who have an interest in the welfare of young people and wish to advance the interests of this group of people. ## **FUNDS HELD AS CUSTODIAN TRUSTEE** There are no funds held as custodian trustee on behalf of others. Approved by order of the board of trustees on 9 February 2026 and signed on its behalf by: S.D Shah - Trustee Page 2 Independent Examiner's Report to the Trustees of Ratanben Zaverchand Kara Foundation ## **Independent examiner's report to the trustees of Ratanben Zaverchand Kara Foundation** I report to the charity trustees on my examination of the accounts of Ratanben Zaverchand Kara Foundation (the Trust) for the year ended 30 April 2025. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Sadikali Gulamabas Premji TC Group First Floor Spitalfields House Stirling Way Borehamwood Hertfordshire WD6 2FX 9 February 2026 Page 3 Ratanben Zaverchand Kara Foundation ## Statement of Financial Activities ## for the Year Ended 30 April 2025 |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
4
**Total**
**EXPENDITURE ON**
**Charitable activities**
Charity to other
Other
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|30.4.25
Unrestricted
fund
£
41,090
121,259
162,349
50,598
8,742
59,340
103,009
2,479,022
2,582,031|30.4.24
Total
funds
£
47,500
95,937
143,437
77,729
5,734
83,463
59,974
2,419,048
2,479,022| |---|---|---| The notes form part of these financial statements Page 4 Ratanben Zaverchand Kara Foundation ## Balance Sheet ## 30 April 2025 |Notes
**FIXED ASSETS**
Tangible assets
8
**CURRENT ASSETS**
Debtors
9
Cash at bank
**CREDITORS**
Amounts falling due within one year
10
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
11
Unrestricted funds
**TOTAL FUNDS**|30.4.25
Unrestricted
fund
£
1,910,000
90,000
585,889
675,889
(3,858)
672,031
2,582,031
2,582,031
2,582,031
2,582,031|30.4.24
Total
funds
£
1,910,000
-
570,093
570,093
(1,071)
569,022
2,479,022
2,479,022
2,479,022
2,479,022| |---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 9 February 2026 and were signed on its behalf by: S.D Shah - Trustee The notes form part of these financial statements Page 5 Ratanben Zaverchand Kara Foundation Notes to the Financial Statements for the Year Ended 30 April 2025 ## **1. CHARITY INFORMATION** Ratanben Zaverchand Kara Foundation is a Trust governed by a trust deed dated April 2008 when the Trust was formed. It is registered as a charity in England and Wales with registration number 1124912. ## **2. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** ## **Accounting convention** The financial statements have been prepared in accordance with the Trust's [governing document], the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Charities SORP "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). The Trust is a Public Benefit Entity as defined by FRS 102. The Trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **Going concern** The trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. The trustees regard the foreseeable future as no less than twelve months following the publication of the Trust's annual financial statements. The trustees have considered the Trust's balance sheet position and reserves as at the year end and the future plans for the Trust, taking account of reasonably possible changes in the income of the Trust and are satisfied that the Trust has sufficient resources to remain in operational existence. Accordingly, they have adopted going concern basis in preparing these financial statements. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **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. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate 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. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. continued... Page 6 Ratanben Zaverchand Kara Foundation Notes to the Financial Statements - continued for the Year Ended 30 April 2025 ## **2. ACCOUNTING POLICIES - continued** ## **Tangible fixed assets** Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Land and buildings Freehold Not depreciated Land and buildings Leasehold Not depreciated The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** 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 charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Impairment of fixed assets** At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **Cash and cash equivalents** Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **Financial instruments** The Trust has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle 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 costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## Basic financial liabilities Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement 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. continued... Page 7 Ratanben Zaverchand Kara Foundation Notes to the Financial Statements - continued for the Year Ended 30 April 2025 ## **2. ACCOUNTING POLICIES - continued** Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## Derecognition of financial liabilities Financial liabilities are derecognised when the Trust's contractual obligations expire or are discharged or cancelled. ## **Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the Trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY** In the application of the Trust's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **4. INVESTMENT INCOME** **----- Start of picture text -----**
|||| |---|---|---| |30.4.25|30.4.24| |£|£| |Rents received|86,598|81,802| |Deposit account interest|34,661|14,135| |121,259|95,937| **----- End of picture text -----**
## **5. SUPPORT COSTS** **----- Start of picture text -----**
|||||| |---|---|---|---|---| |Governance| |Management|Other|costs|Totals| |£|£|£|£| |Other resources expended|1,311|4,330|3,101|8,742| **----- End of picture text -----**
continued... Page 8 Ratanben Zaverchand Kara Foundation Notes to the Financial Statements - continued for the Year Ended 30 April 2025 ## **5. SUPPORT COSTS - continued** Governance costs include payments to the independent examiners of £300 (2024: £300) for independent examination. ## **6. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 30 April 2025 nor for the year ended 30 April 2024. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 30 April 2025 nor for the year ended 30 April 2024. ## **7. STAFF COSTS** The average monthly number of employees during the year was: |Total|30.4.25
Number
-|30.4.24
Number
-| |---|---|---| There were no employees whose annual remuneration was more than £60,000. ## **8. TANGIBLE FIXED ASSETS** |**COST**
At 1 May 2024 and 30 April 2025
**NET BOOK VALUE**
At 30 April 2025
At 30 April 2024|Freehold
property
£
950,000
950,000
950,000|Long
leasehold
£
960,000
960,000
960,000|Totals
£
1,910,000
1,910,000
1,910,000| |---|---|---|---| Land and buildings with a carrying amount of £1,910,000 were valued at 30 April 2025 by the Trustees on the basis of market value. The valuation was based on recent market transactions on arm's length terms for similar properties. At 30 April 2025, had the revalued assets been carried at historic cost less accumulated depreciation and accumulated impairment losses, their carrying amount would have been approximately £1,855,000 (2024: £1,855,000). continued... Page 9 Ratanben Zaverchand Kara Foundation ## Notes to the Financial Statements - continued for the Year Ended 30 April 2025 |**9.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**11.**
**MOVEMENT IN FUNDS**
At 1.5.24
£
**Unrestricted funds**
General fund
2,479,022
**TOTAL FUNDS**
2,479,022
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
162,349
**TOTAL FUNDS**
162,349
**Comparatives for movement in funds**
At 1.5.23
£
**Unrestricted funds**
General fund
2,419,048
**TOTAL FUNDS**
2,419,048||30.4.25
£
90,000
30.4.25
£
3,858
Net
movement
in funds
£
103,009
103,009
Resources
expended
£
(59,340)
(59,340)
Net
movement
in funds
£
59,974
59,974|30.4.24
£
-
30.4.24
£
1,071
At
30.4.25
£
2,582,031
2,582,031
Movement
in funds
£
103,009
103,009
At
30.4.24
£
2,479,022
2,479,022| |---|---|---|---| continued... Page 10 Ratanben Zaverchand Kara Foundation ## Notes to the Financial Statements - continued for the Year Ended 30 April 2025 ## **11. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |Incoming
resources
£
**Unrestricted funds**
General fund
143,437
**TOTAL FUNDS**
143,437
A current year 12 months and prior year 12 months combined position is as follows:
At 1.5.23
£
**Unrestricted funds**
General fund
2,419,048
**TOTAL FUNDS**
2,419,048|Resources
expended
£
(83,463)
(83,463)

Net
movement
in funds
£
162,983
162,983|Movement
in funds
£
59,974
59,974
At
30.4.25
£
2,582,031
2,582,031| |---|---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**
The unrestricted funds comprises:|Incoming
resources
£
305,786
305,786|Resources
expended
£
(142,803)
(142,803)|Movement
in funds
£
162,983
162,983| |---|---|---|---| |General unrestricted funds
Net movements in funds
Revaluation reserve
**TOTAL FUNDS CARRIED FORWARD**||30.4.25
£
2,424,022
103,009
55,000
2,582,031|30.4.24
£
2,364,048
59,974
55,000
2,479,022| continued... Page 11 Ratanben Zaverchand Kara Foundation Notes to the Financial Statements - continued for the Year Ended 30 April 2025 ## **12. RELATED PARTY DISCLOSURES** During the year, RZK Foundation received donations of £40,900 (2024: £47,500) from a company in which the Trustees are the directors. Included in debtors is an amount of £90,000 due from a company in which the Trustees are the directors. Page 12 Ratanben Zaverchand Kara Foundation |Detailed Statement of Financial Activities||| |---|---|---| |for the Year Ended 30 April 2025||| ||30.4.25|30.4.24| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|41,090|47,500| |**Investment income**||| |Rents received|86,598|81,802| |Deposit account interest|34,661|14,135| ||121,259|95,937| |**Total incoming resources**|162,349|143,437| |**EXPENDITURE**||| |**Charitable activities**||| |Grants to institutions|50,598|77,729| |**Support costs**||| |**Management**||| |Insurance|1,311|1,994| |**Other**||| |Property maintenance|4,330|3,440| |**Governance costs**||| |Accountancy and legal fees|3,101|300| |Total resources expended|59,340|83,463| |**Net income**|103,009|59,974| This page does not form part of the statutory financial statements Page 13