**REGISTERED COMPANY NUMBER: 06195961 (England and Wales) REGISTERED CHARITY NUMBER: 1129479**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020**
## **FOR**
**PRAXIS UK (A COMPANY LIMITED BY GUARANTEE)**
Prime Chartered Accountants Corner Oak 1 Homer Road Solihull B91 3QG
**PRAXIS UK**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020**
|||**Page**||
|---|---|---|---|
|**Reference and Administrative Details**||1||
|**Report of the Trustees**|2|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Balance Sheet**|7|to|8|
|**Cash Flow Statement**||9||
|**Notes to the Cash Flow Statement**||10||
|**Notes to the Financial Statements**|11|to|16|
|**Detailed Statement of Financial Activities**||17||
**PRAXIS UK**
## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 AUGUST 2020**
**TRUSTEES** G Devadass B Kumar T Thomas T M Vadakkancheril **REGISTERED OFFICE** 33 The Birches Farnborough Hampshire GU14 RP **REGISTERED COMPANY** 06195961 (England and Wales) **NUMBER REGISTERED CHARITY** 1129479 **NUMBER INDEPENDENT EXAMINER** Prime Chartered Accountants Corner Oak 1 Homer Road Solihull B91 3QG
Page 1
**PRAXIS UK (REGISTERED NUMBER: 06195961)**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2020. The trustees have adopted the provisions of 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**
## **Charitable objects**
The charitable objects, as stated in the Memorandum and Articles of Association of Praxis UK are to benefit the general public through developing the skills of poor and marginalised sections of society in such a way that they are better able to identify and help meet their needs, and to participate more fully in society particularly through involvement in democratic and participatory processes. Such objects are to be advanced directly through action in the community and through the promotion of the efficiency and effectiveness of charities working to provide such benefits to such sections of society.
## **Strategic Directions**
Praxis UK has developed a Strategy paper for 2008-2010. This strategy continues to guide the work of Praxis even in 2019-20. The organisation's vision is a world in which every person has a right to participate in decisions, which affect their lives. Praxis UK's Mission is to enable excluded people to have an active and influential say in their own equitable and sustainable development.
To achieve our aims, four strategic directions inspire us and give us guidance. They are based on the needs identified by our stakeholders and recent trends in participatory development. They are:
1. Build the technical and organisational capacity of communities, civil society, the private sector and government to enable excluded people to have an active and influential say in their own equitable and sustainable development.
2. Develop partnerships and strengthen mechanisms for effective and efficient communication and collaboration between communities, civil society, the private sector and governments. 3. Advocate for appropriate participatory laws, procedures and policies for a more equitable and sustainable development to occur.
4. Scale up the use of participatory approaches for a more equitable and sustainable development.
Page 2
**PRAXIS UK (REGISTERED NUMBER: 06195961)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020**
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
In 2019-20, Praxis UK was able to carry out activities aligned with its strategic objective and to further its charitable objects for public benefit. This was largely in the form of consultancy contracts for development support services and capacity enhancement.
Praxis UK continued to work on issue of bonded labour and trafficking through Pathways, a digital case management system for survivors of human trafficking in collaboration with the UK Home Department. A new issue that Praxis took up in the year is on creating people powered digital narratives - and creating ways for children and adolescents living in peri urban and rural areas to understand more about digital platforms and story telling and training them to create content for the same based on their lived realities. The narratives unpack the themes of air quality, health and secondary education for girls. Praxis also facilitated capacity building workshops for academic researchers and practitioners across the world.
The year 2019-20 saw the unprecedented effects of the Covid-19 pandemic which brought life to a grinding halt across the globe. Praxis continues to manage with limited staff and the high dependency volunteers with support for operational matters being provided remotely, from Praxis India.
Civil society globally is grappling with the pandemic, related lockdowns and their impact which have set back the work of decades by several paces. The pandemic has highlighted the disproportionate impact of a disaster on people on the margins of society, those excluded because of their caste, gender, religion, ability, occupation and age - groups that Praxis UK works closely with. The lockdown threatened to reverse the progress made in the spheres of child rights, women empowerment and workers' rights made by generations of activism.Such a bleak time reiterates that civil society cannot afford to lose hope. It is a time when the clarion call is for action to reclaim the lost progress.
## **FINANCIAL REVIEW**
## **Financial review**
Praxis UK made a net surplus of £415,156 in the year ended 31 August 2020 (2019: £12,834).
The results for the year to 31 August 2020 are laid out in the Statement of Financial Activities and its state of affairs in the Balance Sheet. The trustees consider the state of affairs satisfactory.
## **Reserves policy**
It has been and remains the intention of Praxis UK's trustees to pursue its charitable objectives in partnership with Praxis India, which has significant expertise and insights in this area. Support is anticipated to be through grants either to Praxis India itself or directly to projects it has identified.
For some time it has not been possible to take this intention forward; the reason is that Praxis India has taken the Indian Tax Authorities to Tax Tribunal over the Tax Authorities' attempts to apply income tax on temporary cash flow surpluses on deficit funded grants - and more generally on the surplus of charitable trading. While the cases are still being taken through the due legal procedures, Praxis India has been advised to exercise caution in accepting funds from the UK.
In consequence the Trustees reserves policy is to accumulate funds until the Indian tax issue has been resolved. Accumulated reserves totalled £620,188 at year end. Once that has been resolved, the intention will be to release funds to Praxis India over a period of time until the funds remaining in the UK charity reduce to £7,500 or such other amount that the Trustees decide, at that time, is necessary to protect the charity's capacity to fulfil its charitable objects.
Page 3
**PRAXIS UK (REGISTERED NUMBER: 06195961)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020**
## **FUTURE PLANS**
In the next year, Praxis UK will be seeking more volunteers to represent it at forums and see some changes in its leadership. It hopes to engage with more UK based stakeholders and to generate enough opportunities to stay in business given the tough economic climate. Praxis UK plans to continue to fulfill its charitable objects through pursuing new partnerships and maximization of its income from current streams. The trustees acknowledge brief periods of uncertainty and change in plans and operations and hope to tide over these with minimal interruption to the core charitable work of the organisation. Praxis UK has planned to increase its geographical reach as well as diversity in the nature of tasks that it has done.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The organisation is a charitable company limited by guarantee, incorporated on 2 April 2007 and Praxis UK was registered as a charity on 6 May 2009. It is the intention of the Trustees to formally register it as a charity in the near future. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed by its Articles of Association. In the event of a winding up members are required to contribute an amount not exceeding £1.
## **Recruitment, appointment, induction and training of new trustees**
Trustees are appointed at the Board meetings or co-opted. On appointment, all trustees are provided with copies of constitutional documents.
There is a separate class of membership known as Guardian Membership. A new Guardian Member can be appointed only with the approval of existing Guardian Members who shall consult with the Board of Praxis India prior to making any new appointment. In the event there are no existing Guardian Trustees then Praxis India has the right to determine two new Guardian Members.
## **Organisational structure**
All major operating decisions are made by the Chair of the Board of Trustees in consultation with other board members.
## **Praxis India**
Praxis UK was incorporated with the intention of bringing the experience and expertise of Praxis India to the North. Praxis India has been providing services to the development sector for many years and is considered a pioneering institute in the field of participatory research and training. Praxis India is not the parent company of Praxis UK but it is considered to be a related party. A separate class of Guardian Membership exists through which Praxis India has the ability to intervene in Praxis UK in exceptional circumstances.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on ............................................. and signed on its behalf by: 19/05/2021
................................................................. T Thomas - Trustee
Page 4
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PRAXIS UK (REGISTERED NUMBER: 06195961)**
## **Independent examiner's report to the trustees of Praxis UK ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2020.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered 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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts 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 accounts 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 accounts to be reached.
Jeremy Kitson FCA ICAEW Prime Chartered Accountants Corner Oak 1 Homer Road Solihull B91 3QG
Date: .............................................20/05/2021
Page 5
**PRAXIS UK**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2020**
|**2020**
**Unrestricted**
**fund**
Notes
**£**
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
4
Activities to advance core objectives
**528,810**
Investment income
3
**951**
**Total**
**529,761**
**EXPENDITURE ON**
**Charitable activities**
5
Activities to advance core objectives
**114,605**
**NET INCOME**
**415,156**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**205,032**
**TOTAL FUNDS CARRIED FORWARD**
**620,188**|2019
Total
funds
£
26,695
897|
|---|---|
||27,592
14,758|
||12,834
192,198|
||205,032|
The notes form part of these financial statements
Page 6
**PRAXIS UK (REGISTERED NUMBER: 06195961)**
## **BALANCE SHEET 31 AUGUST 2020**
|**2020**
**Unrestricted**
**fund**
Notes
**£**
**FIXED ASSETS**
Tangible assets
10
**31**
**CURRENT ASSETS**
Debtors
11
**8,780**
Cash at bank and in hand
**897,029**
**905,809**
**CREDITORS**
Amounts falling due within one year
12
**(285,652)**
**NET CURRENT ASSETS**
**620,157**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**620,188**
**NET ASSETS**
**620,188**
**FUNDS**
13
Unrestricted funds
**620,188**
**TOTAL FUNDS**
**620,188**|2019
Total
funds
£
41
-
509,309
509,309
(304,318)
204,991
205,032
205,032
205,032
205,032|
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 7
continued...
**PRAXIS UK (REGISTERED NUMBER: 06195961)**
## **BALANCE SHEET - continued 31 AUGUST 2020**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 19/05/2021
............................................. T Thomas - Trustee
The notes form part of these financial statements
Page 8
**PRAXIS UK**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2020**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by operating activities
**Change in cash and cash equivalents**
**in the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end**
**of the reporting period**|**2020**
**£**
**387,720**
**387,720**
**387,720**
**509,309**
**897,029**|2019
£
30,164|
|---|---|---|
|||30,164|
||||
|||30,164
479,145|
|||509,309|
The notes form part of these financial statements
Page 9
**PRAXIS UK**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2020**
|**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|
|---|---|---|---|---|---|
|||||**2020**|2019|
|||||**£**|£|
||**Net income for the reporting period (as per the Statement of**|||||
||**Financial Activities)**|||**415,156**|12,834|
||**Adjustments for:**|||||
||Depreciation charges|||**10**|14|
||(Increase)/decrease in debtors|||**(8,780)**|152|
||(Decrease)/increase in creditors|||**(18,666)**|17,164|
||**Net cash provided by operations**|||**387,720**|30,164|
|2.|**ANALYSIS OF CHANGES IN NET FUNDS**|||||
|||At|1.9.19|Cash flow|**At 31.8.20**|
||||£|£|**£**|
||**Net cash**|||||
||Cash at bank and in hand|**509,309**||**387,720**|**897,029**|
|||**509,309**||**387,720**|**897,029**|
||**Total**|**509,309**||**387,720**|**897,029**|
The notes form part of these financial statements
Page 10
**PRAXIS UK**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020**
## **1. STATUTORY INFORMATION**
Praxis UK is a charitable company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the Reference and Administrative Details page.
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.
Donated Income is income received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.
Incoming resources from charitable activities are accounted for when earned.
Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance
## **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.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Page 11
continued...
**PRAXIS UK**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020**
## **2. ACCOUNTING POLICIES - continued**
## **Fund accounting**
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.
## **Foreign currencies**
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Transactions with Praxis India are normally conducted in sterling and so exchange differences do not arise unless specifically charged by Praxis India.
## **3. INVESTMENT INCOME**
|Interest receivable
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Consultancy and
workshops
Activities to advance core objectives
Other income
Activities to advance core objectives
**5.**
**CHARITABLE ACTIVITIES COSTS**
Direct
Costs (see
note 6)
£
Activities to advance core objectives
**112,717**|**2020**
**£**
**951**
**2020**
**£**
**528,258**
**552**
**528,810**
Support
costs (see
note 7)
£
**1,888**|2019
£
897
2019
£
26,126
569|2019
£
897|
|---|---|---|---|
|||26,695||
|||Totals
£
**114,605**||
Page 12
continued...
**PRAXIS UK**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020**
|**6.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
Subcontractor charges
**7.**
**SUPPORT COSTS**
Activities to advance core objectives
Support costs, included in the above, are as follows:
**Office costs**
Bank charges
Depreciation of tangible fixed assets
**Governance costs**
Accountancy and legal fees
**8.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets|**2020**
**£**
**112,717**
Office
Governance
costs
costs
£
£
**48**
**1,840**
**2020**
Activities
to
advance
core
objectives
**£**
**38**
**10**
**48**
**2020**
Activities
to
advance
core
objectives
**£**
**1,840**
**2020**
**£**
**10**|2019
£
12,843
Totals
£
**1,888**
2019
Total
activities
£
**61**
**14**
**75**
2019
Total
activities
£
**1,840**
2019
£
14|
|---|---|---|
Page 13
continued...
**PRAXIS UK**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020**
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019.
## **Trustees' expenses**
During the year to 31 August 2020, trustees' expenses of £95 (2019: £Nil) were paid to one trustee in respect of travel expenses.
## **10. TANGIBLE FIXED ASSETS**
|**10.**|**TANGIBLE FIXED ASSETS**|||
|---|---|---|---|
||||Plant and|
||||machinery|
||||£|
||**COST**|||
||At 1 September 2019 and|||
||31 August 2020||**749**|
||**DEPRECIATION**|||
||At 1 September 2019||**708**|
||Charge for year||**10**|
||At 31 August 2020||**718**|
||**NET BOOK VALUE**|||
||At 31 August 2020||**31**|
||At 31 August 2019||41|
|**11.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|||**2020**|2019|
|||**£**|£|
||Prepayments and accrued income|**8,780**|-|
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continued...
**PRAXIS UK**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020**
|**12.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
Accruals and deferred income
**13.**
**MOVEMENT IN FUNDS**
At 1.9.19
£
**Unrestricted funds**
General fund
**205,032**
**TOTAL FUNDS**
**205,032**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
**529,761**
**TOTAL FUNDS**
**529,761**
**Comparatives for movement in funds**
At 1.9.18
£
**Unrestricted funds**
General fund
192,198
**TOTAL FUNDS**
192,198|**2020**
2019
**£**
£
**282,716**
291,533
**1,106**
1,106
**1,830**
11,679
**285,652**
304,318
Net
movement
At
in funds
31.8.20
£
£
**415,156**
**620,188**
**415,156**
**620,188**
Resources
Movement
expended
in funds
£
£
**(114,605)**
**415,156**
**(114,605)**
**415,156**
Net
movement
At
in funds
31.8.19
£
£
12,834
205,032
12,834
205,032|
|---|---|
Page 15
continued...
**PRAXIS UK**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020**
## **13. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|27,592|(14,758)|12,834|
|**TOTAL FUNDS**|27,592|(14,758)|12,834|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.9.18
£
192,198
192,198|Net
movement
in funds
£
427,990
427,990|At
31.8.20
£
620,188|
|---|---|---|---|
||||620,188|
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**|Incoming
resources
£
557,353
557,353|Resources
Movement
expended
in funds
£
£
(129,363)
427,990
(129,363)
427,990|
|---|---|---|
## **14. RELATED PARTY DISCLOSURES**
Praxis India is considered to be a related party of Praxis UK as it is able to intervene in the decision making process of Praxis UK in exceptional circumstances through the special category of Guardian Membership. In the year ended 31 August 2020 Praxis India charged Praxis UK £1,000 (2019: £12,483) for it's services as subcontractor. This was below market rates.
Praxis UK recovered expenses of £9,818 (2019: £5,528) during the year ended 31 August 2020 that were payable to Praxis India.
At 31 August 2020 Praxis UK owed Praxis India £282,716 (2019: £291,533).
Page 16
**PRAXIS UK**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2020**
|**INCOME AND ENDOWMENTS**
**Investment income**
Interest receivable
**Charitable activities**
Consultancy and workshops
Other income
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Subcontractor charges
**Support costs**
**Office costs**
Bank charges
Plant and machinery
Motor vehicles
**Governance costs**
Accountancy and legal fees
Total resources expended
**Net income**|2020
£
**951**
**528,258**
**552**
**528,810**
**529,761**
**112,717**
**38**
**10**
**-**
**48**
**1,840**
**114,605**
**415,156**|2019
£
897
26,126
569|
|---|---|---|
|||26,695|
|||27,592
12,843
61
-
14|
|||75
1,840|
|||14,758|
|||12,834|
This page does not form part of the statutory financial statements
Page 17