**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 2024**
## **CHANDRAN FOUNDATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Pritpal Millan||
|---|---|---|
||Gino Maurice Fox||
||Andrew Lebe||
||Fiona Loudon|(Appointed 13 December 2023)|
|**Principal Staff**|Chitra Chandran (Chief Executive Officer)||
||Lucy Peake (Executive Director)||
||Roshami Wickremasinghe (Operations Manager)||
|**Charity number**|1128023||
|**Company number**|06113575||
|**Registered office**|Soho Works||
||2 Television Centre||
||101 Wood Lane||
||London||
||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 - 5|
|Independent examiner's report|6|
|Statement of financial activities|7|
|Balance sheet|8 - 9|
|Notes to the financial statements|10 - 24|
## **CHANDRAN FOUNDATION**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
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 2024. 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 in Ealing, Lambeth and Wandsworth boroughs 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.
Our mental resilient programme (GetResilient) helped children with 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 cost of living crisis. We also provided support to improve mental resilience in the children through group activities.
We tutored 219 children in English and Maths covering 2010 tutoring hours, supporting children across 8 schools tutoring year 5 and 6 in London. The mental resilience programme of 475 hours helped students in two schools.
- 1 -
## **CHANDRAN FOUNDATION**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
Funded by the National Lottery Community Fund (Programme ‘Partnerships London South East Region’), the project continued to give children in Year 5 and 6 the tools and confidence to thrive, both inside and outside of the classroom and in their transitions into secondary school. Continuation funding from a successful delivery of year one, we continued our work with disadvantaged children in Ealing primary schools for a 2nd year. The programme supported small and class size groups of children through two structured modules of tutoring and unlocking resilience. The project funding extends for three years reaching a minimum of 90 children per academic year.
The Trusthouse Charitable Foundation grant covered 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. 21 children in Year 6 from Streatham Wells Primary and Fenstanton Primary School received tuition in English Comprehension. The 10-week programme was delivered to small groups of children.
Aligned with the Lords Group Foundation’s aims, the grant awarded was to improve the quality of life of children from families experiencing financial hardship in Hammersmith and Fulham. The beneficiaries of the ‘GetSmarter’ project are children residing in the north of Hammersmith and Fulham who are experiencing financial hardship and barriers to learning. Of the children from these communities, 12-21% across the ward live in “Absolute Poverty”. 36 Children from Old Oak Primary School, aged 9-11, in Years 5 and 6, who are in receipt of FSM (Free School Meals) and identified by the schools as Below ARE (AgeRelated-Expectancy) received English and Maths tuition delivered in subject-specific small groups over ten weekly sessions. The programme was launched in February 2024 and will continue till the end of May 2024.
The two-year Peabody Community Fund (Wandsworth) targeted children from the Shaftesbury Estate where 1 in 5 children live in poverty. We worked with 30 children from Year 5 and 6 living on the estate and attending Shaftesbury Park School. Many of these pupils are in receipt of Free School Meals and 119 children qualify for Pupil Premium. At the start, 93% of the students were performing below age-related expectations. The programme was highly successful, with 90% showing academic improvement and gaining increased confidence both in the classroom and in the subject.
The Walcot Foundation awarded a grant to benefit young people from Lambeth from low-income households. We worked with Streatham Wells Primary School and Fenstanton Primary School delivering English tuition to 62 children from Year 5 and 6. The funding included the delivery of 5 sessions of wellbeing and resilience tuition for 10 groups of children. The project is in progress.
Again, this year 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 45 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.
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.
- 2 -
## **CHANDRAN FOUNDATION**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **Financial review**
This year the charity experienced a loss in the accounts due to reduced donations, lower auction proceeds and the absence of significant grants. Despite these challenges, we successfully sustained all our programs and fulfilled our commitments. Looking ahead, our finances for 2024/2025 are already showing a healthy profit, giving us great confidence for the year ahead.
During the year, the charity received grants, donations and investment income totalling £334,170 (2023 £322,402). Total expenditure amounted to £449,228 (2023 £297,403).
The charity made a deficit for the year of £115,058 (surplus in 2023 £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.
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 Executive Director and 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.
- 3 -
## **CHANDRAN FOUNDATION**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
_**FOR THE YEAR ENDED 31 MARCH 2024**_
## **Health and safety**
The wellbeing of the employees at work is of utmost importance to the Foundation. The Board reviews policies on health and safety, harassment and safeguarding annually.
## **Reserves policy and going concern**
Reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned emergency expenditure. The Trustees consider a minimum of six months of the operating costs is the ideal level of reserves and sufficient unrestricted reserves to fund the charity’s administrative and operating costs for at least six months.
The Trustees consider that adequate resources continue to be available to fund the activities of the charity for the foreseeable future. The Trustees are of the view that the charity is a going concern.
## **Investment policy**
The Trustees’ investment policy is to hold surplus reserves on money market deposits 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.
- 4 -
IANDRAN FOUNDATIOYI
TRUSTW REPORTONCLUDING DIRECTOIS, REPORnlCONTINUED)
FOR TIIE SEAR ENDEDJI HARC112•24
Sfattmettt •rTrote8 rtJpDIbsltIes
Th¢ wbo att also the di£ of F¢wthiioD fw the puTpw¢ of (pallY law. A
sponble for pr¢wiD8 the TrpJs*es RtFthI *Ld thc fwiai sthtmetsts iti with Bpplible
w llnd United KiThgdm A¢cwnlin8 (uni KiDgkn Genu¥lly Ac¢oJled A¢thmtini
¢ticel
Compaoy L4W rtquires th¢ Tn¥t¢es w prcp¥e fuw*iil fLY fiMrt¢iat yeAr whi¢h giv¢ 4
IN¢ Ind fair wiew of the stat¢ ofaffairn of tr Chuity ofthe incowng Testwr¢es application of
re50Urt¢& Includw8the lo¢omeu ex11< of th¢dwitsbl¢¢offwny fOrthyr.
Inprcwill8 fu¢111 ar¢rtplred *:
. obstsve the and PTin¢ipla io ts*(JthritsuSORP.'
. mt)Udn¢ Ind t&im4to that ¢ #ble •r¥Jputs',
. 118te wh¢theraFOlibk UKAccquDIiD8S¢aIlrdSh betL followe4 sllbiea depth
dis¢1osed and txplailled in the fiMociaJ $ial¢m¢nts:
. pr¢par¢ the sw¢ll w th¢ 8Oill8 bASiS it is in•FSYOPfiat¢ to N¢swne thJt the
Chjritywill ¢colinue timiorL
Tr AT¢ f¢IFthe for kttpin8 tt¢trd• thit di%loe with rtwnabl¢
¥eur8¢y ai wry lime finvrfial pojition of th¢ Chwiry and enjbk thcm lo erwjre thal thc fin111
AtewKnts eeffjply with the Cc4np•oies Ad 26. Thry are ilso re5p)rthble for feguardIn8 tht tsscts of
the Charity h¢nee wkiD8 r¢ason•blt sw fw tho preventKo ud detraiott of fr4ud other
i¢111¢
The Board of Tn1#$ ve r¢spon*l*l¢ for thp Mainla¢¢ inteyity of th¢ and firw
iftformatioD iu¢luded on th¢ ¢lwil•bl¢ w¢bsil¢
In so far u the TftLrtets u¢
. the is no relevant fin*Ki•l ittfornn of which the dwithbk iDdeFoth examlner bl
. the Tntyt¢¢s hav¢ taken Iky babr takrn t¢ Awk¢ th¢llu¢lv¢s awa of 4Ly releva
audii inftion atsd estsblisb the i1 ex4miThtt is ewtre ofthttt iDfonnatifjn
Thi$ryrtW45 4pproved bythe Tntsttts ffj19-12.2024 *lldsi8ttdby¢x&rofth¢ Boar&..
Pritpaj Millatl
Gino M8uri# Fox
(Appift 13 Decallt¢r2023)
**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 2024, which are set out on pages 7 to 24.
## **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 20-12-2024 Dated: .........................
- 6 -
## **CHANDRAN FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**2024**
**2024**
**2024**
**Notes**
**£**
**£**
**£**
**Income from:**
Donations and legacies
**2**
273,407
60,000
333,407
Investments
**3**
763
-
763
**Total income**
274,170
60,000
334,170
**Expenditure on:**
Raising funds
**4**
223,063
-
223,063
Charitable activities
**5**
187,207
38,958
226,165
**Total expenditure**
410,270
38,958
449,228
**Net (expenditure)/income for the year/**
**Net movement in funds**
(136,100)
21,042
(115,058)
Fund balances at 1 April 2023
181,418
21,113
202,531
**Fund balances at 31 March 2024**
45,318
42,155
87,473|**Total**
**2023**
**£**
321,803
599|
|---|---|
||322,402|
||100,275|
||197,128|
||297,403|
||24,999
177,532|
||202,531|
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.
- 7 -
## **CHANDRAN FOUNDATION**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2024**_
|**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**|**2024**
**£**
64,240
37,158
101,398
(15,108)
45,318|**£**
1,183
86,290
87,473
42,155
45,318
87,473|**2023**
**£**
23,422
210,910
234,332
(33,576)
181,418|**£**
1,775
200,756|
|---|---|---|---|---|
|||||202,531|
|||||21,113
181,418|
|||||202,531|
- 8 -
CHANDRAN FOUNDATION
BALANCE SHEEr IcorrriNUED}
ASAf31 MARCH2024
The CoMpY is entit]ed to the exemption from the audit rtquiremtnt eontsine41 ID 8¢clitiD 477 of the
ComwiesAet 2006. for the ended31 M*¢h 2024.
The direfflors acknowl&l8e their re5p)nsibilities for CLNnplyirtg with the reqUirents of the Compknie5 A¢1
2006 with rtswt to acmunling T¢c¢rds •Thl of finwKiil st*ments.
Thc mtmbets have noi required the wmpgny ¢0 oitsin audit of its fin1nci Sthtements for the year in
question irt I¢rdance with se¢titm416.
These financia] 5taterncrtts have been prepT¢d in a¢¢ordwtt with the prov75ioni ¥pli¢able to e¢mp4nicJ
subjea to the sma]l ¢ompanies repme.
19-12-2024
Cojnpiny re%tstr•tEoa Duthber 06113575
## **CHANDRAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
_**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
## **Charity information**
Chandran Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is Soho Works, 2 Television Centre, 101 Wood Lane, London, W12 7FR.
## **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 2025 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.
- 10 -
## **CHANDRAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
_**FOR THE YEAR ENDED 31 MARCH 2024**_
## **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.
- 11 -
## **CHANDRAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **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.
- 12 -
## **CHANDRAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
_**FOR THE YEAR ENDED 31 MARCH 2024**_
## **2 Donations and legacies**
|**3**
**4**|**Unrestricte**
**d**
**Restricted**
**Total**
Total
**funds**
**funds**
**2024**
**2024**
**2024**
2023
**£**
**£**
**£**
£
Donations
34,445
-
34,445
27,616
Fundraising Events - Ticket & Donations
105,885
-
105,885
87,175
Grants for services
-
60,000
60,000
42,300
Fundraising Events - Auction Income
133,077
-
133,077
164,712
273,407
60,000
333,407
321,803
**For the year ended 31 March 2023**
279,503
42,300
321,803
**Analysis of the grants funding**
Other
-
60,000
60,000
42,300
-
60,000
60,000
42,300
**Investments**
**Total**
**Total**
**2024**
**2023**
**£**
**£**
Bank interest
763
599
**Raising funds**
**Unrestricted Unrestricted**
**funds**
**funds**
**2024**
**2023**
**£**
**£**
Fundraising and publicity
Other fundraising costs
223,063
100,275|Total
2023
£
27,616
87,175
42,300
164,712|
|---|---|---|
|||321,803|
|||321,803|
|||42,300|
|||42,300|
|||**Total**
**2023**
**£**
599|
- 13 -
## **CHANDRAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**4**
**Raising funds**
**5**
**Charitable activities**
Staff costs
Other direct costs
Share of support costs (see note 6)
Share of governance costs (see note 6)
**Analysis by fund**
Unrestricted funds
Restricted funds|**(Continued)**
223,063
100,275
**2024**
**2023**
**£**
**£**
156,668
128,455
32,090
38,257
188,758
166,712
31,327
24,954
6,080
5,462
226,165
197,128
187,207
170,941
38,958
26,187
226,165
197,128|**(Continued)**
223,063
100,275
**2024**
**2023**
**£**
**£**
156,668
128,455
32,090
38,257
188,758
166,712
31,327
24,954
6,080
5,462
226,165
197,128
187,207
170,941
38,958
26,187
226,165
197,128|
|---|---|---|
|||**2023**
**£**
128,455
38,257|
|||166,712
24,954
5,462|
|||197,128|
|||170,941
26,187|
|||197,128|
- 14 -
## **CHANDRAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**6**
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Legal and professional
1,455
-
General overheads
22,060
-
Travel
7,220
-
Depreciation and impairment
592
-
Accountancy
-
4,933
Trustees meetings
-
1,147
31,327
6,080
Analysed between
Charitable activities
31,327
6,080
**7**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets|**2024**
**£**
1,455
22,060
7,220
592
4,933
1,147
37,407
37,407
**2024**
**£**
592|**2023**
**£**
503
21,038
2,821
592
2,301
3,161|
|---|---|---|
|||30,416|
|||30,416|
|||**2023**
**£**
592|
## **8 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
- 15 -
## **CHANDRAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **9 Employees**
## **Number of employees**
The average monthly number of employees during the year was:
||**2024**|**2023**|
|---|---|---|
||**Number**|**Number**|
||4|3|
|**Employment costs**|**2024**|**2023**|
||**£**|**£**|
|Wages and salaries|144,917|118,959|
|Social security costs|9,544|8,905|
|Other pension costs|2,207|591|
||156,668|128,455|
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 £95,490 (2023 - £108,865).
## **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.
- 16 -
## **CHANDRAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**11**
**Tangible fixed assets**
**Cost**
At 1 April 2023
At 31 March 2024
**Depreciation and impairment**
At 1 April 2023
Depreciation charged in the year
At 31 March 2024
**Carrying amount**
At 31 March 2024
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**
**£**
50,080
50,080
48,305
592
48,897
1,183
1,775
**2024**
**2023**
**£**
**£**
64,240
16,316
-
7,106
64,240
23,422
-
-
-
-
-
-|**Fixtures and fittings**
**£**
50,080
50,080
48,305
592
48,897
1,183
1,775
**2024**
**2023**
**£**
**£**
64,240
16,316
-
7,106
64,240
23,422
-
-
-
-
-
-|
|---|---|---|
|||50,080|
|||48,305
592|
|||48,897|
|||1,183|
|||1,775|
|||**2023**
**£**
16,316
7,106|
|||23,422|
|||-
-|
|||-|
- 17 -
## **CHANDRAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **13 Creditors: amounts falling due within one year**
|**Creditors: amounts falling due within one year**|||
|---|---|---|
|Other taxation and social security
Other creditors
Accruals and deferred income|**2024**
**£**
5,285
-
9,823
15,108|**2023**
**£**
23,986
2,987
6,603|
|||33,576|
- 18 -
## **CHANDRAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **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**|**Transfers**|**Balance at**|**Incoming**|**Resources**|**Balance at**|
||**1 April 2022**|**resources**|**expended**||**1 April 2023**|**resources**|**expended**
**31**|**March 2024**|
||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|SWSJ Project|(515)|-|-|515|-|-|-|-|
|CFWE Project|5,000|-|(2,887)|-|2,113|-|-|2,113|
|Wimbledon Foundation Community Fund and LCF|-|9,300|(9,026)|-|274|-|-|274|
|Trusthouse|-|3,000|-|-|3,000|-|(3,000)|-|
|The National Lottery Community Fund|-|30,000|(14,274)|-|15,726|30,000|(12,536)|33,190|
|Lord's Group Foundation|-|-|-|-|-|5,000|(3,433)|1,567|
|Peabody Community Fund (Wandsworth)|-|-|-|-|-|10,000|(9,989)|11|
|Peabody Lambeth|-|-|-|-|-|5,000|-|5,000|
|Walcot Grant|-|-|-|-|-|10,000|(10,000)|-|
||4,485|42,300|(26,187)|515|21,113|60,000|(38,957)|42,155|
- 19 -
## **CHANDRAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **14 Restricted funds**
## **(Continued)**
## **‘’The National Lottery Community Fund” programme name -“Partnerships London South East Region”**
“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. 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.
Being the second year of the programme, we supported 90 children from Havelock Primary School in English and Maths, 30 children from Coston Primary School and 36 children from Dairy Meadow Primary Schools.
The wellbeing programme provided 5 wellbeing sessions to 49 students in Year 5 at Havelock Primary School.
The programme will continue throughout the academic year ending July 2024.
## **Walcot Foundation Grant**
Governors of the Walcot Foundation agreed a grant of £10,000 over one academic year for Pupil Premium primary school pupils in Years 5 and 6. 20 groups of children received 10 sessions of English tuition with each group consisting of 3 pupils. In total, 200 sessions of tuition will be delivered.
The funding included the delivery of 5 sessions of well-being and resilience tuition for 10 groups of pupils, with each group consisting of 6 pupils.
The grant was utilised to deliver Year 5 English tuition at Fenstanton Primary School, and Year 5 and 6 English tuition at Julians and Streatham Wells Primary Schools. 62 children benefitted from the English sessions and 46 students from the 5 session Wellbeing programme.
The programme concludes at the end of the school year in July 2024.
- 20 -
## **CHANDRAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **14 Restricted funds**
**(Continued)**
## **Peabody Community Fund - Wandsworth (The London Community Foundation)**
## **Grant - £10,000 per year for 2 years**
This grant was awarded for two years amounting to £10,000 per year. The grant required Chandran Foundation to work within the Shaftesbury Estate where 1 in 5 children on the estate live in poverty. We worked with children who live on the Shaftesbury Estate and attend Shaftesbury Park School. Many of these pupils are in receipt of Free School Meals and 119 children qualify for Pupil Premium.
This being Year 1 of the grant, 30 children from Year 5 and 6 received English tuition. The sessions were designed to meet the children's individual learning needs making accelerated progress whilst developing a love for learning. They were delivered in small groups to maximise feedback.
At the start, 93% of the students were performing below age-related expectations. The programme was highly successful, with 90% of students showing academic improvement and gaining increased confidence both in the classroom and in the subject, they were tutored in.
Year 2 of the grant will be delivered in the next academic year.
## **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.
21 children in Year 6 from Streatham Wells Primary and Fenstanton Primary School received tutoring in English for 10 weeks in small groups of 3 children to 1 tutor.
The Streatham Wells programme was delivered from 07/11/23 to 06/02/24 and Fenstanton Primary programme from 15/11/23 to 07/02/24.
The programme was successful, with almost 80% of children that completed the programme increasing their academic progress. Furthermore, improving their confidence both in the classroom and in the subject.
- 21 -
## **CHANDRAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **14 Restricted funds**
**(Continued)**
## **The Lords Group Foundation**
## **Grant - £5,000**
Aligned with the Lords Group Foundation’s aims, the purpose of this project is to improve the quality of life of children from families experiencing financial hardship in H&F (Hammersmith and Fulham). The beneficiaries of the ‘GetSmarter’ project will be children residing in the north of H&F who are experiencing financial hardship and barriers to learning. Of the children from these communities, 12-21% across the ward live in “Absolute Poverty”.
Upon leaving primary school, just over half (51%) of pupils from disadvantaged families meet expected grades in reading, writing and maths; this is called the attainment gap. ‘GetSmarter’ will deliver a programme of activities aimed at closing the attainment gap between disadvantaged children and their more affluent peers.
Being eligible for FSM (free school meals), having a SEND (Special Education Need and Disability) and having EAL (English as an Additional Language) are all indicators of disadvantage and represent barriers to education which is the access criteria for this programme.
36 Children from Old Oak Primary School, aged 9-11, in Years 5 and 6, who are in receipt of FSM (Free School Meals) and identified by the schools as Below ARE (Age-Related-Expectancy) received English and Maths tuition delivered in subject-specific small groups over ten weekly sessions.
The programmes were launched in February 2024 and will continue till the end of May 2024.
## **Peabody Community Foundation (Lambeth)**
Total Grant £10,000 (Initial payment of £5,000 received in December 2023 and Final payment in April 2024).
The charity’s core activity is the delivery of the ‘GetSmarter’ Programme which provides small group, subject-specific tuition in English and Maths, during after school clubs. Tuition is delivered by trained undergraduates to harness the social value of young mentors and inspire children’s interest in educational pathways they otherwise may not have believed possible.
The proposed project will partner with two local primary schools to also deliver Online Resilience Tuition, fun and engaging session structured around the following themes:
- What is wellbeing and how do we access more of it.
- Why we experience difficult emotions like stress, anger and sadness.
- How to manage difficult emotions and challenging situations.
- How we can disagree with others and still get along.
Activities are designed for children aged 9-11, reaching 60 (unique individual) children.
The programme is scheduled to commence in April 2024.
- 22 -
## **CHANDRAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **14 Restricted funds**
## **(Continued)**
## **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)|**Movement in funds**
**Transfers**
**Balance at**
**1 April 2023**
**Incoming**
**resources**
**Resources**
**expended**
**Balance at**
**31 March 2024**
**£**
**£**
**£**
**£**
**£**
-
10,000
-
(6,150)
3,850
-
5,000
-
(3,770)
1,230
-
42,000
-
(24,000)
18,000
-
30,000
-
(18,700)
11,300
-
20,000
-
(13,000)
7,000
-
11,451
-
(7,513)
3,938
(515)
62,967
274,170
(337,137)
-
(515)
181,418
274,170
(410,270)
45,318|**Movement in funds**
**Transfers**
**Balance at**
**1 April 2023**
**Incoming**
**resources**
**Resources**
**expended**
**Balance at**
**31 March 2024**
**£**
**£**
**£**
**£**
**£**
-
10,000
-
(6,150)
3,850
-
5,000
-
(3,770)
1,230
-
42,000
-
(24,000)
18,000
-
30,000
-
(18,700)
11,300
-
20,000
-
(13,000)
7,000
-
11,451
-
(7,513)
3,938
(515)
62,967
274,170
(337,137)
-
(515)
181,418
274,170
(410,270)
45,318|
|---|---|---|---|
||||45,318|
- 23 -
## **CHANDRAN FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **16 Analysis of net assets between funds**
|**Analysis of net assets between funds**|||
|---|---|---|
|**Designated**
**funds**
**Restricted**
**funds**
**2024**
**2024**
**£**
**£**
Fund balances at 31 March 2024 are
represented by:
Tangible assets
1,183
-
Current assets/(liabilities)
44,135
42,155
45,318
42,155|**Total**
**2024**
**£**
1,183
86,290
87,473|**Total**
**2023**
**£**
1,775
200,756|
|||202,531|
## **17 Related party transactions**
There were no disclosable related party transactions during the year (2023 - none).
- 24 -