**Charity registration number 1128023** **Company registration number 06113575 (England and Wales)** ## **CHANDRAN FOUNDATION** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2023** ## **CHANDRAN FOUNDATION** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Professor Siddharthan Chandran (Chair) (Resigned 22 November 2022)|Professor Siddharthan Chandran (Chair) (Resigned 22 November 2022)| |---|---|---| ||Pritpal Millan|| ||Gino Maurice Fox|| ||Capt Kandiah Chandran MBE, OBE|(Resigned 30 May 2022)| ||Andrew Lebe|(Appointed 28 November 2022)| |**Principal Staff**|Chitra Chandran (Chief Executive Officer)|| ||Lucy Peake (Executive Director)|| ||Roshami Wickremasinghe (Operations Manager)|| |**Charity number**|1128023|| |**Company number**|06113575|| |**Registered office**|2 Television Centre|| ||101 Wood Lane|| ||London|| ||United Kingdom|| ||W12 7FR|| |**Independent examiner**|Siobhan Glenister, ACA|| ||5 The Square|| ||Bagshot|| ||Surrey|| ||United Kingdom|| ||GU19 5AX|| |**Bankers**|HSBC Bank plc|| ||199 High Street|| ||Acton|| ||London|| ||W3 9DE|| |**Solicitors**|Batchelors Solicitors|| ||Charles House|| ||35 Widmore Road|| ||Bromley|| ||Kent|| ||BR1 1RW|| **CHANDRAN FOUNDATION** ## **CONTENTS** ||**Page**| |---|---| |Trustees report|1 - 4| |Independent examiner's report|5| |Statement of financial activities|6| |Balance sheet|7 - 8| |Notes to the financial statements|9 - 22| ## **CHANDRAN FOUNDATION** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ The Board of Trustees, who are also directors of the Company for the purposes of the Companies Act, and trustees for charity law purposes, submit their annual report and the financial statements of the charitable company for the year ended 31 March 2023. The Board of Trustees confirms that the annual report and financial statements of the Company comply with current statutory requirements, the requirements of the Company's governing document and the provisions of the Statement of Recommended Practice (FRS 102). ## **Objectives and activities** To provide opportunities for young people living in the inner cities that face disadvantage, to fulfil their educational potential and to provide the guidance that will help them to obtain meaningful and sustainable employment. The objectives of the Charitable Company are set out in its Articles and Memorandum. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. ## **Achievements and performance** ## **Review of activities for the public benefit** Last year we continued to work in partnership with schools to identify children who because of multiple disadvantages and challenges within their home lives, experience barriers to achieving their full potential. We aim to adopt a holistic and person-centred approach tailored to the needs of each child with bespoke tutoring plans and with our GetFed provision, providing nutritious breakfasts for children at the start of the school day. As a result of a mental health crisis post Covid, we are offering a programme (GetResilient) for children and their families that is designed to give them the tools and confidence they need to thrive inside and outside of the classroom. We are continuing to forge partnerships with other likeminded organisations to create the most effective ways to achieve our goals. Our continuing dedication to our young people’s future is demonstrated in this report. We exist to improve their lives and our experience shows that with hard work and the most effective methods, a great deal can be achieved. We are always optimistic and strive to counter the negative stories we see in the media every day. ## **GetSmarter, GetResilient & GetFed clubs** We continue to work in partnership with London primary schools to boost children’s academic attainment, focussing on English and Maths, alongside their overall confidence in the classroom. As a charitable foundation offering free after-school tuition for 5-11 year-olds with difficult family circumstances, our immediate concern was that children who were already falling behind in their studies would be further disadvantaged by the disruption to their education due to the Covid-19 pandemic. While working to improve mental resilience in the children, we extended this offering to the parents with the programme ‘Creating A Resilient Family’, which would greatly benefit the children in their homes as well. We tutored 175 children in English and Math covering 2100 tutoring hours, supporting children across 11 schools in London. The mental resilience programme (GetResilient) reached 500 children and 3000 parents. Our GetFed provision, providing breakfast to children, served 2400 meals. Funded by the National Lottery Community Fund (Programme ‘Partnerships London South East Region’), the project was designed to give children in Year 6 the tools and confidence to thrive, both inside and outside of the classroom and in their transitions into secondary school. - 1 - ## **CHANDRAN FOUNDATION** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ Following on from a successful delivery of a previous project (also funded by the National Lottery Community Fund), this funding enabled us to expand our work with disadvantaged children in Ealing primary schools. The programme supported small and class size groups of children through two structured modules of tutoring and unlocking resilience. Additionally, support was extended to parents/carers of children accessing the programme. The project funding extends for three years reaching 200 children per academic year. The Wimbledon Foundation Community Fund enabled 36 children improve their educational outlook, 90 children and their families (650 individuals) to be helped to improving mental resilience. We extended this offer by providing breakfasts and headphones to support online learning, which was funded by the Chandran Foundation. Clarion Futures Grant (West Ealing Grants Programme) supported 30 children for tuition, 160 children who received the mental resilience programme and 460 parents benefitted from the ‘Resilient Family’ programme. We worked with school teachers to identify areas where the children needed support to catch up and we developed study materials and lesson plans that could meet the needs of each child. We recruited and trained 40 young undergraduates to provide learning tutorial support. ## **Partnership working** The Foundation continues to engage and build partnerships with like-minded organisations as the most effective way of achieving the best solutions to our young people. Frankham Consultancy Group has worked with us this year as well, helping us raise funds to effectively help us reach more young people. A2Dominion Housing Group continues to support us to help our young people and the communities we work with. The Trustees confirm that they have considered the Charity Commission’s guidance on Public Benefit and in particular consider how planned activities will contribute to furthering the Charitable Company’s objectives. ## **Financial review** During the year, the charity received grants, donations and investment income totalling £322,402. Total expenditure amounted to £297,403. The charity made a surplus for the year of £24,999. ## **Structure, governance and management** The Chandran Foundation is a charitable company limited by guarantee. The Foundation was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. The Directors of the company are also Trustees for the purposes of charity. Under the requirements of the Memorandum and Articles of Association the trustees are elected to by the board. All new Trustees receive a pack of key documents to inform them about the company including information on their role and responsibilities. - 2 - ## **CHANDRAN FOUNDATION** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ The Trustees are responsible for the strategic direction of the charity, establishing policy, business planning and ensuring financial stability. Budgets are agreed annually, with reports received and approved at each trustees meeting on income and expenditure, cash flow and project progress. The Board meets at least three times a year. The day-to-day management is delegated to the Chief Executive Officer. The Chief Executive Officer works with the Operations Manager. Together they are responsible for ensuring that activities are in keeping with the strategic plan, any legal requirements, charity policy and the stated objectives of the Foundation. Investment in training to meet the goals of the Business Plan is actively pursued. We recognize the valuable resource of its staff. Regular staff meetings are held whereby employees are actively encouraged to contribute to the aims and objectives of the Foundation. ## **Health and safety** The well being of the employees at work is of utmost importance to the Foundation. The Board reviews policies on health and safety, harassment and safeguarding annually. All staff received safeguarding training. ## **Reserves policy** It is the policy of the Trustees to maintain the general fund at a minimum level of six months of the operating costs to ensure that the continuation of the Charitable Company’s activities is secured. ## **Investment policy** The Trustees’ investment policy is to hold surplus reserves on money market deposits so as to safeguard the capital value of the reserves. ## **Risk management** The Chief Executive Officer identifies, evaluates and controls significant risks on a regular basis. Where there are applicable changes in risk these are reported to the Board of Trustees. There have been no significant risks to report in the past twelve months. - 3 - CHANDRAN FOUNDATION TRUSTEES REPORT {INCLUDING DIREcfoRS' REPORTJ (coKriNUED} FOR TIIE YEAR ENDEDJI hL4RCJ12O23 Statemtnt ofTr¥stcu rtsponslblll¢ks The Tn￿ttts, who sre the directors of awdnn Found￿10￿ for the pwpose of eompany law. are r¢spofisible for weporing the Trustee5 Report and the fJnan¢ial yai¢ments in accordance wilh applicablc laiv nnd United Kingdom A¢eountu¥ Sthndards (Uniied Kin8dom Genernlly A¢¢tpied Accounting Pra¢tice). Company Law requires the T￿JS￿¢S Io Prepare fththKi•l sthtements for egth rw*￿14] yw which give a tnJ¢ and fair view of the stste of affairs of the thrity athd ofthe in¢oming resources and application of reJoUr¢￿, it)¢luding th¢ ir*ome •od ¢XF*ndiiur¢, of th¢ dw*abl¢ ￿MpanY for year. In preprin$ th¢se fthan¢i81 *atem¢rtts. th¢T￿￿t¢S ve wuirndio: - s¢le¢t suitsble a¢¢ountin8 polities and then •ppty thEm t￿111e￿I1￿, - observe ih¢ m¢thL*ts and Pr¥￿1P￿S in th¢ Chwiiies SORP: - makeiudgemenls Ind e5¢im¥¢¢s thii ire re#•Nble •nd pNdtnt: - st8ie whether •pplicable UK A¢¢o￿lIb& hav¢ bctn followe4 sthject to ￿Y M￿¢[111 departwes disclosed and ¢xpliin¢d in th¢ finvKial stateme￿ knd - pt¢par¢ the fwt4n¢i81 stslem¢nls th¢ 8oiDg on¢ern b95is li li in•ppropria* to pr¢swn¢ th81 the Chariry wll continue in opernii¢n. The Tn4¢¢¢s are responsible for kttpin8 2dequai¢ i¢eounii¢Jg r¢wrth ihai dis¢lose with rtasonabl¢ ieeurncy al any time the financial position of ihe Charity and enabl¢ them lo erksur¢ th•t ihe financial 319ttrnents comply with the Companies A¢t 2006. They art also responsible for safe8uardin8 the asse￿ of the Charity hence for t8kin8 re*son￿le step5 for the PTEv¢nliw WKi de*¢tion of fraud and other iTr¢gularitie& The Board tsf Tn￿ett ATE r¢sp￿ible for the m•in*nan¢¢ itiiem of wr•te thd finkncial infornialion in¢ludtd on the tharitable ¢omptty'$ web5il¢ In so fir ￿ the Tn￿ Ire aw¥¢ - there is no relevant filb￿¢1#1 inforniat1￿ ¥>f whith the ￿￿TiMb￿ companys Inde￿dent examin¢r is unaware: and - the Trusttts hiv¢ taken ill steps tlKy W to have taken to make themselves awar¢ of Televartt Audil infornialiort and to esthblish thlt the indcpnd¢ni exthiirkr is of inforniation Thi5 report approved by th¢ Tnthe5 on 12 tkeembEr2Q23 swd by orderofthe Bovd:. Pritpal Millan Girto Maurice Fox Andrew Lebe (Appointed 28 November 2022) Pritpll MillaD Trustee Dated.. 12 December 2023 **CHANDRAN FOUNDATION** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF CHANDRAN FOUNDATION** I report to the Trustees on my examination of the financial statements of Chandran Foundation (the Charity) for the year ended 31 March 2023, which are set out on pages 7 to 22. ## **Responsibilities and basis of report** As the Trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies. I have completed my examination. I confirm that no 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 Charity as required by section 386 of the 2006 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or - 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 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 financial statements to be reached. ## **Siobhan Glenister, ACA** 5 The Square Bagshot Surrey GU19 5AX United Kingdom Dated: 12 December 2023 - 5 - ## **CHANDRAN FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ |**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**2**
279,503
42,300
Investments
**3**
599
-
Job Retention Scheme Grant
**4**
-
-
**Total income**
280,102
42,300
**Expenditure on:**
Raising funds
**5**
100,275
-
Charitable activities
**6**
170,941
26,187
**Total expenditure**
271,216
26,187
**Net incoming resources before transfers**
8,886
16,113
Gross transfers between funds
(515)
515
**Net income for the year/**
**Net movement in funds**
8,371
16,628
Fund balances at 1 April 2022
173,047
4,485
**Fund balances at 31 March 2023**
181,418
21,113|**Total**
**2023**
**£**
321,803
599
-
322,402
100,275
197,128
297,403
24,999
-
24,999
177,532
202,531|**Total**
**2022**
**£**
176,248
14
17,190| |---|---|---| |||193,452| |||65,867| |||88,889| |||154,756| |||38,696
-| |||38,696
138,836| |||177,532| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. - 6 - ## **CHANDRAN FOUNDATION** ## **BALANCE SHEET** ## _**AS AT 31 MARCH 2023**_ |**Notes**
**Fixed assets**
Tangible assets
**11**
**Current assets**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**13**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
**14**
Unrestricted funds
Designated funds
**15**|**2023**
**£**
23,422
210,910
234,332
(33,576)
181,418|**£**
1,775
200,756
202,531
21,113
181,418
202,531|**2022**
**£**
80
187,257
187,337
(9,805)
173,047|**£**
-
177,532| |---|---|---|---|---| |||||177,532| |||||4,485
173,047| |||||177,532| - 7 - CHANDWI FOUNDATION BALANCE SHEET(coP￿lNuED) ASAf31 IIIARCH2023 The company is entitled 10 the exonyion from the audii r4uimeni ¢onthitKd in 3¢aion 4n of the CompaniesAct 2006. fw the yearended 31 Mlreh 2023. The diredors •¢knowled8e their rtsp)nsibililies for wmplying with th¢ requirtm¢Dts ofthE Companies A 2006 resped to i¢c•unting rtewds knd the rntion of fInan¢￿1 statthier￿. The members hove Mt reqU￿¢d the ¢omp#ny to obthin an audit of its fllwi¢iII si*temffits for th¢ y¢ar tn in accord)￿¢ with S¢¢¢ion 476. Th£sc f￿￿￿tal siaiements h•ve kn prepued in with the wov75ions oppli¢able to companies subject io the ￿nall compw)ies r¢Bime. Tr fIT￿Me1#1 stalements were *p5￿0Ved by ￿eTh￿t¢S on 12 De¢¢mb¢r2023 'Ipal Mill Company rtttstr*doD numbtr06I1357S ## **CHANDRAN FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **1 Accounting policies** ## **Charity information** Chandran Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is 2 Television Centre, 101 Wood Lane, London, W12 7FR, United Kingdom. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the Charity's Memorandum and Articles of Association, the Companies Act 2006 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)” (as amended for accounting periods commencing from 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The Trustees have considered budgets and forecasts for the year ended 31 March 2022 together with the reserves held. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity. ## **1.4 Income** Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. - 9 - ## **CHANDRAN FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **1 Accounting policies** ## **(Continued)** Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if 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 asset. ## **1.5 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. All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Support costs, including governance costs, which cannot be directly attributed to particular activities, have been apportioned proportionately to the direct staff costs allocated to the activities. Governance costs include the costs of servicing Trustees' meetings, audit and strategic planning. ## **1.6 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. 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: Fixtures and fittings Straight line 25% 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 recognised in the statement of financial activities. ## **1.7 Impairment of fixed assets** At each reporting end date, the Charity reviews the carrying amounts of its tangible 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). ## **1.8 Cash and cash equivalents** Cash and cash equivalents 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. - 10 - ## **CHANDRAN FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **1 Accounting policies** ## **(Continued)** ## **1.9 Financial instruments** The Charity 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 Charity's balance sheet when the Charity 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 and bank loans 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. 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 operations 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 Charity’s contractual obligations expire or are discharged or cancelled. ## **1.10 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 Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.11 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. - 11 - ## **CHANDRAN FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **2 Donations and legacies** |||**Unrestricte**|**Restricted**|**Total**|Total| |---|---|---|---|---|---| |||**d**|||| |||**funds**|**funds**||| |||**2023**|**2023**|**2023**|2022| |||**£**|**£**|**£**|£| ||Donations|27,616|-|27,616|38,792| ||Fundraising Events - Ticket & Donations|87,175|-|87,175|16,936| ||Grants for services|-|42,300|42,300|8,000| ||Fundraising Events - Auction Income|164,712|-|164,712|107,520| ||Club Income|-|-|-|5,000| |||279,503|42,300|321,803|176,248| ||**For the year ended 31 March 2022**|168,248|8,000||176,248| ||**Analysis of the grants funding**||||| ||Other|-|42,300|42,300|8,000| |||-|42,300|42,300|8,000| |**3**|**Investments**||||| ||||**Unrestricted**||**Unrestricted**| |||||**funds**|**funds**| |||||**2023**|**2022**| |||||**£**|**£**| ||Bank interest|||599|14| |**4**|**Job Retention Scheme Grant**||||| |||||**Total**|Total| |||||**2023**|2022| |||||**£**|£| ||Job Retention Scheme Grant|||-|17,190| - 12 - ## **CHANDRAN FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ |**4**
**5**
**6**|**Job Retention Scheme Grant**
**(Continued)**
**Raising funds**
**Unrestricted Unrestricted**
**funds**
**funds**
**2023**
**2022**
**£**
**£**
Fundraising and publicity
Other fundraising costs
100,275
65,867
100,275
65,867
**Charitable activities**
**2023**
**2022**
**£**
**£**
Staff costs
128,455
65,431
Other direct costs
38,257
15,442
166,712
80,873
Share of support costs (see note 7)
24,954
3,518
Share of governance costs (see note 7)
5,462
4,498
197,128
88,889
**Analysis by fund**
Unrestricted funds
170,941
81,975
Restricted funds
26,187
6,914
197,128
88,889|**Job Retention Scheme Grant**
**(Continued)**
**Raising funds**
**Unrestricted Unrestricted**
**funds**
**funds**
**2023**
**2022**
**£**
**£**
Fundraising and publicity
Other fundraising costs
100,275
65,867
100,275
65,867
**Charitable activities**
**2023**
**2022**
**£**
**£**
Staff costs
128,455
65,431
Other direct costs
38,257
15,442
166,712
80,873
Share of support costs (see note 7)
24,954
3,518
Share of governance costs (see note 7)
5,462
4,498
197,128
88,889
**Analysis by fund**
Unrestricted funds
170,941
81,975
Restricted funds
26,187
6,914
197,128
88,889| |---|---|---| |||65,867| |||**2022**
**£**
65,431
15,442| |||80,873
3,518
4,498| |||88,889| |||81,975
6,914| |||88,889| - 13 - ## **CHANDRAN FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **7 Support costs** |**Support costs**||| |---|---|---| |**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Legal and professional
503
-
General overheads
21,038
-
Travel
2,821
-
Depreciation and impairment
592
-
Accountancy
-
2,301
Trustee meetings
-
3,161
24,954
5,462
Analysed between
Charitable activities
24,954
5,462|**2023**
**£**
503
21,038
2,821
592
2,301
3,161
30,416
30,416|2022
£
203
3,204
111
-
4,498
-| |||8,016| |||8,016| ## **8 Trustees** None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year. - 14 - ## **CHANDRAN FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **9 Employees** ## **Number of employees** The average monthly number of employees during the year was: ||**2023**|**2022**| |---|---|---| ||**Number**|**Number**| ||3|2| |**Employment costs**|**2023**|**2022**| ||**£**|**£**| |Wages and salaries|118,959|63,417| |Social security costs|8,905|2,014| |Other pension costs|591|-| ||128,455|65,431| The key management personnel of the Charity are those persons having authority and responsibility for planning, directing and controlling the activities of the Charity, directly or indirectly, including any Trustee of the Charity. In addition to the Trustees, Key management personnel includes the Principal Staff. Aggregate remuneration and benefits paid to key management personnel during the year amounted to £128,455 (2022 - £65,431). ## **10 Taxation** Chandran Foundation 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 charitable purposes. - 15 - ## **CHANDRAN FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **11 Tangible fixed assets** |**Cost**
At 1 April 2022
Additions
At 31 March 2023
**Depreciation and impairment**
At 1 April 2022
Depreciation charged in the year
At 31 March 2023
**Carrying amount**
At 31 March 2023
**12**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
Ticket sales
Auction receivables|**Fixtures and fittings**
**£**
47,713
2,367
50,080
47,713
592
48,305
1,775
**2023**
**2022**
**£**
**£**
16,316
80
7,106
-
23,422
80
-
-
-
-
-
-|**Fixtures and fittings**
**£**
47,713
2,367
50,080
47,713
592
48,305
1,775
**2023**
**2022**
**£**
**£**
16,316
80
7,106
-
23,422
80
-
-
-
-
-
-| |---|---|---| |||50,080| |||47,713
592| |||48,305| |||1,775| |||**2022**
**£**
80
-| |||80| |||-
-| |||-| - 16 - ## **CHANDRAN FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **13 Creditors: amounts falling due within one year** |**Creditors: amounts falling due within one year**||| |---|---|---| |Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income|**2023**
**£**
23,986
-
2,987
6,603
33,576|**2022**
**£**
4,962
984
-
3,859| |||9,805| - 17 - ## **CHANDRAN FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **14 Restricted funds** The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: |||**Movement in funds**|**Movement in funds**||**Movement in funds**|**Movement in funds**||| |---|---|---|---|---|---|---|---|---| ||**Balance at**|**Incoming**|**Resources**|**Balance at**|**Incoming**|**Resources**|**Transfers**|**Balance at**| ||**1 April 2021**|**resources**|**expended**|**1 April 2022**|**resources**|**expended**||**31 March 2023**| ||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**| |GetReady|3,757|-|(3,757)|-|-|-|-|-| |SWSJ Project|(358)|3,000|(3,157)|(515)|-|-|515|-| |CFWE Project|-|5,000|-|5,000|-|(2,887)|-|2,113| |Wimbledon Foundation Community Fund and LCF|-|-|-|-|9,300|(9,026)|-|274| |Trusthouse|-|-|-|-|3,000|-|-|3,000| |The National Lottery Community Fund|-|-|-|-|30,000|(14,274)|-|15,726| ||3,399|8,000|(6,914)|4,485|42,300|(26,187)|515|21,113| - 18 - ## **CHANDRAN FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **14 Restricted funds** ## **(Continued)** - **‘’The National Lottery Community Fund”** ## **programme name -“Partnerships London South East Region”** ## Grant - £30,000 per year for 3 years. Funded by the National Lottery Community Fund, the project will provide a holistic approach to education recovery for disadvantaged children including children from families that have experienced pandemic related hardship and trauma. The project was designed to give children the tools and confidence to thrive, both inside and outside of the classroom and in their transitions into secondary school. This project expanded our work with disadvantaged children in Years 5 and 6 in Ealing primary schools. This programme supported small and class size groups of children through two structured modules; tutoring and unlocking resilience. Additionally, support was extended to parents/carers of children accessing the programme. The funding will enable us to achieve Educational and Wellbeing outcomes for 600 children, over three years. This is the first year of project delivery, having received £30,000 as grant funding for Year 1 of the project, benefitting 260 children. The parents were involved in the delivery of the project by up-skilling and building their confidence to participate in their child’s educational recovery. This asset-based approach helps to develop a sustainable community solution and parents will be empowered with the tools to support their child’s on-going journey. - 19 - ## **CHANDRAN FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **14 Restricted funds** **(Continued)** ## **Clarion Futures Grant Agreement West Ealing Grants Programme - £5000 Grant** Clarion Futures West Ealing Grants programme aims to support projects seeking to deliver well designed projects for the benefit of Clarion residents and the wider community in the area of West Ealing. We supported disadvantaged children from St John's Primary School in West Ealing, over two school terms. The project focussed on mental resilience and wellbeing reaching 160 children and tailored support in English for 30 children. The pandemic has had a devastating effect on many children, and we believe a holistic approach to education that addresses students’ learning, social and emotional needs, is crucial, especially in times of crisis. - 20 - ## **CHANDRAN FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **14 Restricted funds** ## **(Continued)** ## **Wimbledon Foundation Community Fund Grant** The grant of £9,300 was awarded by the Wimbledon Foundation and The London Community Foundation. This Project focused on the following two Wimbledon Foundation Community Fund’s themes; improving mental health and wellbeing and providing access to learning, training and employment skills. 36 children benefitted from English and Math tuition, 91 children benefitted from the mental resilience programme and 650 parents and teachers had access to the wellbeing programme. The participants experienced benefits of increased capacity in their English and Math enabling them to thrive and reach their true potential; greater resilience by gaining skills and strategies that will increase their wellbeing; breakfast to enable them to concentrate on learning and where parents are struggling with income, will feel supported in meeting their child’s needs and parents/carers were supported with strategies and resources to support the wellbeing and resilience of themselves and their families. ## **Trust House Charitable Foundation** The Trustees made a grant of £3,000 for 55% of the running costs for a programme of online English/Maths tuition to support children's transition to secondary school in the London Borough of Lambeth. This grant is made under the Foundation’s Trustee Nomination Grant scheme, which enables the trustees to support projects which are of personal interest to them. The delivery of the grant will be in the next financial year. - 21 - ## **CHANDRAN FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2023**_ ## **15 Designated funds** The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes: |**Balance at**
**1 April 2022**

**£**
Strategic Training: Trustees
10,000
Business Development
5,000
Business Continuity
42,000
Fundraising and Publicity
30,000
Staffing Commitments
20,000
Working Capital
11,451
General Funds
54,596
173,047|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
269,252
(260,366)
269,252
(260,366)|**Transfers**
**Balance at**
**31 March 2023**
**£**
**£**
-
10,000
-
5,000
-
42,000
-
30,000
-
20,000
-
11,451
(515)
62,967
(515)
181,418|**Transfers**
**Balance at**
**31 March 2023**
**£**
**£**
-
10,000
-
5,000
-
42,000
-
30,000
-
20,000
-
11,451
(515)
62,967
(515)
181,418| |---|---|---|---| ||||181,418| **16 Analysis of net assets between funds** |**Analysis of net assets between funds**||| |---|---|---| |**Designated**
**funds**
**Restricted**
**funds**
**2023**
**2023**
**£**
**£**
Fund balances at 31 March 2023 are
represented by:
Tangible assets
1,775
-
Current assets/(liabilities)
176,008
24,748
177,783
24,748|**Total**
**2023**
**£**
1,775
200,756
202,531|**Total**
**2022**
**£**
-
177,532| |||177,532| ## **17 Related party transactions** There were no disclosable related party transactions during the year (2022 - none). - 22 -