COMPANY REGISTRATION NUMBER: 6538523 CHARITY REGISTRATION NUMBER: 1130985 BALUJI MUSIC FOUNDATION LIMITED Company Limited by Guarantee Unaudited Financial Statements 31 March 2025 VSP LIMITED Chartered accountants 2 Deansway East Finchley London N2 OJF
BALUJI MUSIC FOUNDATION LIMITED Company Limited by Guarantee Financial Statements Year ended 31 March 2025 Trustees' annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements Page 1 4 5 7
BALUJI MUSIC FOUNDATION LIMITED Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) Year ended 31 March 2025 he trustees, who are also the directors for the purposes of company law, present their report and th naudited financial statements of the charity for the year ended 31 March 202 Reference and administrative details Registered charity name BALUJI MUSIC FOUNDATION LIMITED Charity registration number 1130985 Company registration number 6538523 Principal office and registered 33 Northolme Road office London N5 2UU The trustees Mr Tony Stockman Mr Mark Henry Swan Mr Kevin Satizabal Carrascal (Resigned 24 February 2025) (Appointed 3 March 2025) Independent examiner Mrs JP Patel Structure, governance and management The organisation is a charitable company limited by guarantee, incorporated on 18 March 2008 and registered as a charity on 6 August 2009. The company was established under a Memorandum of Objectives and activities Main Focus: - Emphasising the transformative power of music for blind and VI communities.- Expanding the reach of the Inner Vision Orchestra. 1
BALUJI MUSIC FOUNDATION LIMITED Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2025 Achievements and performance Overview of the year's main areas of activity 1. Completion of the Workshop and Busking Project 2. Completion of the Interactions Tour 2024 3. British Museum Takeover 4. Completion of the Live Music Project and Continuation Completion of the Workshop and Busking Project The Baluji Music Foundation has successfully concluded its workshop and busking project, funded by Fight for Sight and partnered with Live Music Now. This innovative initiative saw the creation of 20 workshops by our talented musicians and the Foundation. These engaging sessions were implemented across 12 schools and community centres, reaching and inspiring approximately 150 and enriching lives through creative expression. Originally allotted to only last until 2024, the original 5 years to continue and expand the project. Completion of the Interactions Tour 2024 Our ambitious Interactions Tour 2024 has come to a triumphant close, marking a significant milestone for the Baluji Music Foundation. The tour encompassed an impressive 25 shows across the United Kingdom, showcasing our musicians' talents to diverse audiences nationwide. Performances graced prestigious venues including the iconic Royal Albert Hall, the historic Middlesbrough Town Hall, the world-renowned British Museum, and the cultural hub of the Southbank Centre. This tour not only elevated our protile but also brought our unique musical vision to a broader audience. British Museum Takeover was a unique event where The Baluji Music Foundation orchestrated a remarkable full-day at the British Museum, creating a vibrant tapestry of music and culture. Thirteen talented musicians from the Inner Vision Orchestra brought their artistry to life, performing in seven culturally-themed galleries throughout the museum. The day culminated in a grand performance in the Great Hall, captivating visitors with a a diverse range of musical styles and traditions. This cultural takeover attracted an impressive audience of approximately 7,000 visitors, highlighting the power of music to bridge cultural divides and engage the public in new and exciting ways. 2
08/12/2025, 12:01 Inbox - Linda Shanson - Outlook BALUJI MUSIC FOUNDATION LIMITED Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2025 Financial review Financial review The charity has attracted more funding and support the bulk of which has been pledged to cover the next five years. The charity, with the aid of sound financial management and the support of both its staff and volunteers generated a positive outcome for the period. Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees' annual report was approved on 2 December 2025 and signed on behalf of the board of trustees by: Mr Mark Henry Swan Trustee 3 https://outlook.live.com/mail/0/id/AAkALgAAAAAAHYQDEapmEc2byACqAC%2FEWg0AhcHoRly68UaSNi373pXUsQAlpzBfkQAA/sxs/AAkALgAA.. 1/1
BALUJI MUSIC FOUNDATION LIMITED Company Limited by Guarantee Independent Examiner's Report to the Trustees of BALUJI MUSIC FOUNDATION LIMITED Year ended 31 March 2025 I report to the trustees on my examination of the financial statements of BALUJI MUSIC FOUNDATION LIMITED ('the charity') for the year ended 31 March 2025. Responsibilities and basis of report As the trustees of the company (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 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 the 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 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 charity as required by section 386 of the 2006 Act; or 2. the financial statements do not accord with those records; or not a matter considered as part of an independent examination; or 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 accounts to be reached. Mrs JP Patel Independent Examiner VSP Limited Chartered Accountants 2 Deansway London N2 OJF 4
BALUJI MUSIC FOUNDATION LIMITED Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2025 2025 Unrestricted funds Total funds Note Income and endowments Donations and legacies Other income Total income Expenditure Expenditure on charitable activities Other expenditure Total expenditure Net income/(expenditure) and net movement in funds 32,490 11,229 43,719 18,809 18,612 37,421 6,298 32,490 11,229 43,719 183802 37,421 6,298 Reconciliation of funds Total funds brought forward Total funds carried forward 28,997 35,295 28,997 35,295 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 2024 Total funds 39,726 12,264 51,990 31,361 23,763 55,124 (3,134) 32,131 28,997 The notes on pages 7 to 13 form part of these financial statements. 5
08/12/2025, 12:02 Inbox - Linda Shanson - Outlook BALUJI MUSIC FOUNDATION LIMITED Company Limited by Guarantee Statement of Financial Position 31 March 2025 Fixed assets Tangible fixed assets Cust at bank and in hand Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Net assets Note 12 13 2025 261 36,673 1,639 35,034 35.295 35,295 2024 350 34,661 6.014 28,647 28,997 28,997 Funds of the charity Unrestricted funds Total charity funds 35,295 14 35,295 28,997 28,997 or the year ending 31 March 2025 the charity was entitled to exemption from audit under section 47 f the Companies Act 2006 relating to small companie: Directors' responsibilities: • Tear mubets an anot raced the cotion 7 to obtain an audit f is financial statements for the These financial statements have been prepared in accordance with the provisions applicable t companies subject to the small companies' regime These financial statements were approved by the board of trustees and authorised for issue on 2 December 2025, and are signed on behalf of the board by: Mr Mark Henry Swan Trustee The notes on pages 7 to 13 form part of these financial statements. 6 https://outlook.live.com/mail/0/id/AAkALgAAAAAAHYQDEapmEc2byACqAC%2FEWg0AhcHoRly68UaSNi373pXUsQAlpzBfkQAA/sxs/AAKALgAA.. 1/1
BALUJI MUSIC FOUNDATION LIMITED Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2025 1. General information The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 33 Northolme Road, London, N5 2UU. 2. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial 3. SORP (FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty he preparation t statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Foreign currencies or losses being taken to the statement of financial activities. 7
BALUJI MUSIC FOUNDATION LIMITED Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 3. Accounting policies (continued) Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. • legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. . income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. 8
BALUJI MUSIC FOUNDATION LIMITED Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 3. Accounting policies (continued) Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: • • expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Fixtures and fittings Equipment : 25% reducing balance 25% straight line Impairment of fixed assets 9
BALUJI MUSIC FOUNDATION LIMITED Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 3. Accounting policies (continued) Impairment of fixed assets (continued) For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. 4. Limited by guarantee The liability of each member is limited to £1. 5. Donations and legacies Donations Donations Grants Grants receivable Unrestricted Total Funds Unrestricted Total Funds Funds € Funds 2024 350 350 - - 32,140 32,490 32,140 32,490 39,726 39,726 39,726 39,726 6. Other income Unrestricted Total Funds Unrestricted Total Funds Funds Funds 2024 Performance fees 11,229 11,229 12,264 12,264 7. Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds € 2024 Musician Fees Workshop Fees Filming Costs Public Relations 10,031 10,031 21,773 21,773 1,800 1,800 2,144 2,144 317 317 6,204 6,204 6,661 6,661 1,240 1,240 18,809 18,809 31,361 31,361 10
BALUJI MUSIC FOUNDATION LIMITED Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 8. Expenditure on charitable activities by activity type Musician Fees Workshop Fees Filming Costs Public Relations Note: This year activity type is the same as fund type. 9. Other expenditure Activities undertaken Total funds directly 2025 € 10,031 1,800 10,031 1,800 317 317 6,661 6,661 18,809 18,809 Total fund 2024 21,773 6,204 1,240 31,361 Website costs Insurance Administration costs Travel Accountancy fees General expenses Depreciation tangible assets Advertising Unrestricted Total Funds Unrestricted Total Funds Funds 2025 € Funds 2024 557 557 200 200 1,783 1,783 433 433 11,160 11,160 12,162 12,162 1,703 1,680 1,703 7,233 1,680 1,680 7,233 1,680 1,276 89 1,276 1,447 1,447 89 116 364 364 492 492 18,612 18,612 23,763 23,763 10. Independent examination fees 2025 € 2024 Free able head one nail statements 11. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
BALUJI MUSIC FOUNDATION LIMITED Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 12. Tangible fixed assets Cost At 1 April 2024 and 31 March 2025 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 Carrying amount At 31 March 2025 At 31 March 2024 13. Creditors: amounts falling due within one year Accruals and deferred income 14. Analysis of charitable funds Unrestricted funds General funds General funds At 1 April 2024 28,997 At 1 April 2023 32,131 Fixtures and fittings 444 443 = 443 1 Equipment 1,059 710 89 799 260 349 Total € 1,503 1,153 89 1,242 261 350 2025 1,639 2024 6,014 At 31 March 202 Income Expenditure 5 43,719 (37,421) 35,295 31 March 202 Income Expenditure 51,990 (55,124) 28,997 12
BALUJI MUSIC FOUNDATION LIMITED Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 15. Analysis of net assets between funds Tangible fixed assets Current assets Creditors less than 1 year Net assets Tangible fixed assets Current assets Creditors less than 1 year Net assets Unrestricted Total Funds Funds 2025 € 261 261 36,673 36,673 (1,639) (1,639) 35,295 35,295 Unrestricted Total Funds Funds 2024 350 350 34,661 34,661 (6,014) (6,014) 28,997 28,997 13