Company registration number. 07973780
Charity registration number. 1142618
DVS Foundation
(A Company IEmited by guarantee)
Annual Report and Flnanclal Statements
for the Year Ended 31 March 2025

DVS Foundation
Contents
Referencè and Administrative Details
Trustees, Report
2to3
Statement of Trustees. Responsibilities
Independent Exarnlnerfs Report
Statement of Flnanclal Activities
Balance Sheat
Notes to the FirAncial Statements
81016

DVS Foundation
Reference and Administrative Details
Chlgf Executlve Officer
MrDVShah
Trustees
Mrs R Shah
MrDVShah
MrPDShah
Charlty Reglstratlon Number
1142618
Company RagF8tratlon Numbor 07973780
Prfn¢lpal Offke
DVS House
4 Spring Villa Road
Spring Vlla Park
Edgware
Middlesex
HA8 7EB
Page 1

DVS Foundatlon
Trustees. Report
The trustees, who are directors for the purposes of company law, present the annual report together with
the financial statements of the charitable company for the year ended 31 March 2025.
ObJectlv68 and actlvltles
Publlc beneflt
General charitable purposes for preventlon or rell8f of povarty, overseas aid. and famine relief for
children, young people. and the èlderly.
The trustees confimi that they have complled with the requirements of section 17 of the Charities Act
2011 to hav8 due regard to the publSc benefit guidance pub118hed by the Charity Commission for England
and Wales.
8tructure, governance and management
Flnanclal Instrumonts
Objecd￿5 and pollcles
The chariV8 activities expose li to a number of financial rlsks Includlng credit ri8k, cash flow risk and
Ilquidlty rlsk. The use of financial derivatives is governed by the charity's policies approved by the board
of trustees, whfch provide written prIncIp￿S on the use of financial derivatives to manage the8e risks. The
charity does not use derlvative financial instruments for speculative purposes.
Cash flow rfsk
The Charty's activitles expose it prfmarlly to the financlal risks of changes In forelgn currency exchange
rates and Interest rates. The charity use8 foreign exchange forward contracts and interest rate swap
contracts to hedge these exposures. Intere8t bearing assets and liabilitle8 are held at fixed rate to ensure
certainty of cash flows.
Credlt rlsk
The charity's prlncipal financial assets 8r8 bank balances and cash, trade and other receNables. and
investments. The charity's credit risk is prirnarily attributable to its trade receivables. The amount8
presented in the balance sheet are net of allowances for doubtful receivables. An alk)wance for
Impairment is made wher6 there is an identlfbd loss event which, based on prevk)us experience, is
evidence of a reduction in the recoverablllty of the cash flows. The credit risk on IKiuid funds and
derivative financial instruments Is Ilmited because the counterparties are banks with h￿h credit-ratings
assiqned by international Gredit-rating agencies. The charity has no signiflcant concentratlon of credit risk,
with exposure spread over a Large number of counterparties and customers.
Llquldity risk
In order to maintsin liquidity to énsurè that sufficient funds are available for ongolng operation8 and future
devebpments, the charity uses a mixture of long-tem and short-term debt finance. Further details
regarding Ilquklty rlsk can be found in the Statement of accounting policies in the financial statements.
Page 2

DVS Foundation
Trustees, Report
Ttr￿ annual report vras approved by the trustees of the charity on 18 December 2025 and signed on Its
behalf by:
Mr P D Siiah
Trustee
Page 3

DVS Foundation
ststement of Trustees. Responsibilities
The trustees (who are also the dlrectors of DVS FourKlation for the purposes of company law) ar8
responsible for preparing the trustees, report arKI the financial statements in accordance with applicable
law and United Kingdom Accounting Standards {Unrted Kingdom Generally Accepted Accounting
Praclice), including FRS 102 Tr Financial Reporting Stsndard applicable in the UK and Republic of
Ireland"
Company law requires the trustees lo prepare finar£ial statements for each flnancial year. Under
company law the trustees must not approve the financial sL*ements unless Ihey are satisfied that they
give a true and fair view of the state of affairs of the charitable company and of the incoming resources
and appltcation of resources, including rts income and expenditure. ol the chariiabl8 company for that
period. In preparing these financial statements. trustees are required to:
select suitable accounting policies and appty them cortsistently:
obseNe the methods and principles in the Chariti8s SORP:
make judgements and estimates that are reasonable and prudent:
state whether applicabb accounting standa￿1$. comprising FRS Iir2 have been followed, subject to
any material departures disclosed and explair￿d In the financial statements: and
prepare the financial statement8 on the going concern basis unless it is inappropriate lo presume thal
the charilable company will continue in business.
The trustees are responsible for keeping proper accounting records that dlsclose with reasonable
accuracy at any time the financial position of the charitable company and enable them to ensure that the
financial staternents comply wilh the Companies Act 2006. They are also responsible for safeguarding the
assets of the charitsble company and hence for taking reasonable steps for the preventron and detectton
of fraud and other iffegularities.
The trustees are responsibkq for the maintenance and integrity of the corporate and financlal lrfonnatbn
Sncluded on the charitable companys website. Legislation governing the preparation and disseminatlon of
financial statements may differ from legislation In other jurisdict4)rts.
Approved by the trustees of the charty on 18 December 2025 and swned on ils behalf by:
MrPDShah
Truslee
Page 4

DVS Foundation
Independent Examinerfs Report to the trustses of DVS Foundation {'the
Company.)
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31
March 2025.
Responsibilities and basls 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 carrled out under section 145 of the Charities Act 2011 {'the 2011 Act,). In carrying
out my examination I have followed the Directlons given by the Charity Commission Ur￿er section
145(5)(b) of the 2011 ACL
Independent examiner's statement
I have completed my examination. I confim thal no matters have come to my attention in connectton with
the examination giving me cause to believe:
1. accounting records were not kept in respect of DVS Foundation 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 vievl which is not a matter considered
as part of an independent examination. or
4. the accounts have not been prepared in accordance ￿1th the methods and principlès of the
Statement of Recommended Practice for accounting and reporting by charities lapplicable to
charities preparing their accounts in accordance wilh 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 èxamlnation to which
attention should be drawn in this report in order lo enab￿ a proper understanding of the accounts to be
reached.
Ik(1klnto￿1l L
Jigna Dave. FCCA
Stanmore kcountants Ltd
25 Rocklands Drive
Stanmore
Middlesex
HA7 2JD
18 December 2025
Page 5

DVS Foundation
ststement of Financial Activities for the Year Ended 31 March 2025
(Including Income and Expenditure Account and Ststement ofTotsl Recognised
Gains and Losses)
Total
2025
Total
2024
Nots
Income and EndoY•Tnents from:
Donations and legacbes
Investment income
123,000
150,173
28
Total income
123,034
150,201
Expendlturn on:
Charitable activities
Other experKliture
Total expenditure
Net incomel(eyperKliture)
Net movemenl tn funds
{101.454)
19.471
(120,594)
29,931
120,925
150,525
324
1109
(324)
Reconciliation of funds
Total funds browJht foThva
Total funds carried foNArd
508
11
2.293
All of charity's activities derive from continuing c4)erations durir¥J the above two periods.
The funds breakdown for 2024 is shown in note 11.
The notes on pages 8 lo 16 form an integral part of these financial statements.
Page 6

DVS Foundatlon
(Registration number: 07973780>
Balance Sheet as at 31 March 2025
2025
2024
Note
Current assets
Cash at bank and in hand
2,474
2,262
2,078)
Creditors: Amounts falling due within one year
Net assets
(181)
2,293
Funds of the charity:
Unrnstrictsd income funds
Unrestricted funds
2.293
Total funds
2,293
For the financial year ending 31 March 2025 the charity was entitled to exemption from audit under
section 477 of the Companies Act 2006 relatlng to small companies.
Directors, responsibilities:
The members have not required the charity to obtain an audit of its accounts ft)r the year in question in
accordance with section 476., and
The directors acknowledge their responsibilities for complying with the requirements of the Act with
respect to accounting records and the prepardtion of accounts.
The financial statements on pages 6 to 16 V￿re approved by the trustees, and authorised for issue on 18
December 2025 and signed on their beh8tF by:
IrPDShah
Trustee
The notes on pages 8 to 16 fonn an integral part of these financial statements.
Page 7

DVS Foundation
Notes to the Financial Ststements for the Year Ended 31 March 2025
1 Charity status
The charity is limited by guarantee. incorporated in England and Wales, and consequently does not have
share capital. Each of the trustees is liable to contribuie an amount not exceeding £10 towards the assets
of the charity in the event of liquidation.
The address of its registered office is:
DVS House
4 Spring Villa Road
Spring Villa Park
Edgware
Middles6X
HA8 7EB
These financlal statements were authorised for issue by the trustees on 18 December 2025.
2 Accountlng pollcles
Summary of signif￿ant accountlng policies and key accountlng estimates
The principal accounting policies applied in the preparation of these financial statements are set out
below. These policies have been consistentty applied to all the years presented. unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities:
Statement of Recommended Practice (applicable to charities preparing thetr accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued
October 2019) - (Charities SORP {FRS 102)), the Financial Reporting Standard applicable in the UK and
Republrc of Ireland (FRS 102) and the Companies Act 2006.
Bas1$ of preparation
DVS Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are
initialty racognised at historical cost or transaction value unless otherwise stated in the relevant
accounting pollcy notes.
Going concem
The trustees consider that there are no material uncertainties about the charitls abiliiy to continue as a
going concem nor any significant areas of uncertainty that affect the carying value of assets hekl by the
charity.
Exemption from preparlng a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included
a cash flow statement in these financial statements.
Page 8

DVS Foundation
Notes to the Financial Ststements for the Year Ended 31 March 2025
Income and endowments
All incwie is recognised once the charity has entitlement to the income, it is probable that the income will
be received and the amount of the income receivable can be measured reltably.
Donatlons and legaeles
Donations a￿ recognised wh8n th8 charity has been notified in writing of both the amount and settlement
date. In the event that a donation is subject to conditions that require a level of perfomiance by the charty
before the charrty is entitled to the funds, the income is deferred and not recognised until either those
conditions are fully met. or the fulfilment of those conditior6 is wholly wrthin the control of the charity and it
is probable that these conditions will be fulfilled in the reporting period.
Legacy gifts are recognised on a case by case basis following the grant of probate when the
administratorlexecutor for the estate has communicated in writing both the amount and settlement date.
In the event that the gfft is In the fonn of an asset other than cash or a financial asset traded on a
recognised stock exchange. recognition is subject to the value of the gift being reliably measureable with
a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
Investment Income
Dividends are rewgnised once the divKlend has been declared and notification has been received of the
divtdend due.
Expendlture
All expendbture is recognised once there is a legal or constructive oblwJation to thal expenditure. it is
probable settlement required and the amount can be measured r81iably. All costs are allocated to the
applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be
directly attributed to particular headings they have been allocated on a basis consistent with the use of
resources. with central staff costs allocated on the basis of time spent, and depreciation charges
allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff
costs.
Charftable actlvltles
Charitable exp8ndilure comprises those cost5 incurred by the charity in the delivery of its acttvities and
seNrces for Its beneficiaries. It includes both costs that can be allocated directly to such activities and
those costs of an indirect nature necessary to support them.
Grant pmvlslons
Provlslons for grants are made vthen the intention to make a grant has been communicated to the
recipient but Ihere is uncertainty about either the timing of the granl or Ihe amount of grant payable.
Page 9

DVS Foundation
Notss to the Financial Statements for the Year Ended 31 March 2025
Taxatlon
The charity is considered to pass the tests set out in Paragraph 1 Schedu18 6 of the Finan￿ Act 2010
and therefore it meets the definition of a charitable company for UK corporation tax purposes.
Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received
within categories covered by Chapter 3 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 exclusively to
charitable purposes.
Cash and cash equlvalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-tenn highly liquid
investments that are readily convertible to a known amount of cash and are subject to an insignificant risk
of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in
furtherance of the objectives of the chartty.
Pensions and other post rètlrnmènt obllgatlons
The charty operates a defined contribution pension scheme which is a pension ptan under which ftxed
contributions are paid into a pension fund and the chanty has no tegal or constructive obligation to pay
further contrtbutions even if the fund does not hold sufficient assets to pay all employe6S the benefits
reLgting to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the State of Financtal Activities when they
are due. If contribution payments exceed the contribution due for servi￿, the excesss is recognised as
prepayment.
Flnanclal Instruments
Classlflcatlon
Financial assets and financial liabilities are recognised when the charity becomes a party to the
contractual provisrons of the instrument. Financial liabilities and equity instruments are classified
according to the substance of the contractual arrangements entered into. An equty instrument is any
contract that evidences a residual interest in the assets of the charity after deducting all of its liabilittes.
Pag8 10

DVS Foundation
Notes to the Financial Statements for the Year Ended 31 March 2025
R•eognltlon and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs).
except for those financlal assets classlfied as at fair valu8 through profit or loss. which are initially
measured at fair value (which is nomally the transaction price excluding transaction costs), unless the
arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the
financial asset or financial liability is measured at the present value of the future payments discounted at
a market rate of interest for a similar debt instrument,
Financial 89S8ts and liabllities are onty offset in the Statement of financial position when, and only when
there exlsts a legally enforceable right to set off the recognlsed amounts and the charlty intends etther to
settle on a net basis, or to realise the asset and setue the liabilty swnullaneously.
Flnancial assets are derecognlsed when and only when a) Ihe contractual rights to the cash flows from
the financlal asset expire or are settled, b) the charty transfers to another party substantially all of the
risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some. but
not a51, Significant risks and rewards of ownershlp, has transferred control of the asset to another paty,
Financial liabllltle8 are derecognised only when the obllgation specffied in the contract Is dlscharged,
cancelled or expires.
Page 11

DVS Foundation
Notes to the Financial Statements for the Year Ended 31 March 2025
Debt instruments
Debt instruments which meet the folknving conditrons are subsequently measured at amortised cost using
the effective interest metrK)d:
{a) The contractual return lo the holder ts (i) a fixed amount: (i)i a positive fixed rate or a positive variable
rate; or (iii) a comb1r￿t#jn of a positive or a W*ive fwed rate and a positive Variab￿ fate.
(b) The contract may provide for repayments of the principal or Ihe retum to the hokler (bui not both) to be
linked to a single relevant obseNable index of general prrk infiatton of ttrE currency in vthich the debt
instrument is denorninated. provKled such links a￿ not leveraged.
(c) The contract may provide for a detem)Inab￿ variation of the return to the hokler during the lrfe of ttr
instrument, provided that (i) the new rate satisfEs conditton (a) and the variation is not contingent on
future events othèr than (1) a change of a contractual variable rate" {2) to protect the holder against credlt
deterioration of the issuer. {3) changes in levies applied by a central bank or arising from changes in
relevant taxation or law: or (li) new rate is a market rate of interest and satisf￿$ condition (a).
(d) There is contractual provision that could. by its temis, resull in the h)Ider losing the prlnclpal
amount or any interest attributable to current period or prior periods.
(e) Contractual provisions that pennit the issuer lo prepay a debt instrument or pemit holder to put it
back to the issuer befo￿ maturity are not contingent on future events. other Ihan to protect the holder
against the credit deterioration of the issuer or a change in control of the issuer. or lo protect the holder or
issuer against changes in levies appr￿1 by a central bank or arising from changes in relevant taxation or
(Q Contractual provisions may pernrt the extension of the temi of Ihe debt instrument. provided that the
return to the holder and any other contractual provisN)ns applicable during ihe èxtended tenn satisfy the
Conditions of paragraptts (a) to {c).
Debt instruments that are classified as payable or receiva)le within one year on initial recognitton and
which meet the above conditions are measured at the undiscounted amount of cash or other
consideration expected to be paid or received. net of impairment.
With the exceptK)n of some hedging instruments. otr*r debl irtstrum8nts nol meetirKJ t￿se conditions are
measured at fair value through profrt or loss.
Commitments to make and receive loans which meet the conditions merrtioned above a￿ measured at
cost (which may be nil) less impairmenL
Page 12

DVS Foundatlon
Notes to the Financial Statements for the Year Ended 31 March 2025
Investments
Investments in non-convertible preference shares noTrputtable ordinary or preference shares (where
shares are publicly traded or their fair value is reliably measurable) are measured at fair value through
profit or loss. Where fair value cannot be measured reliabiy. investrnents are measured at cost less
impaimient.
Investments in s￿8￿11anes and associates are measured at cost less impaiment. For investments In
subsidiaries acquired for consideratron including issue of shares qualfying for merger reltef, cost is
measured by reference to nominal value of the shares issued plus frdir value of other considerdtion.
Any premium 15 wnored.
Derlvadve Ilnanclal Instruments
The charity uses derivative financial instruments to reduce exposure lo ft)reign exchange risk and intsrest
rale movements. The Chanty d¢)es rK>t hold or issue derivatNe financlal instnrnents for 8peculativ•
purp08e8.
Derivatives are initialty recognised at falr value at the date a derivatlve contract i¥ entered Snto and are
subsequently remeasured to their fair value at each reporting date. The resultirvJ gain or loss is
fecognised in statement of financial activities trnmedialely unless the derpiatfve is designated and
effectlve a8 a hedging instrum8nt. in wh￿h event the timing of the recognrtion in statement of flnanclal
actSvitles depends on the nature of the hedge relationship.
Falr valu• measurement
The best evidence of fair value is a quoled prke for an identical asset in an active rnarf(8t. When quoted
prices are unavailable, the prKe of a recent transaction for an Ident￿81 asset provides evKlerKe of fair
value as bng as there has not been a signif￿ant change in econc*nic circumstances or a signrficant lapse
of time slnce the transaction took place. If the market is not active and recent transactions of an identtcal
asset on thelr own are not a good ests'mate of fair value, the fair value is estimated by using a valuation
technique.
Page 13

DVS Foundation
Notes to the Flnanclal Statements for the Year Ended 31 March 2025
3 Income from donatlons and legacles
Unrestrlcted
fund8
General
Total
2025
Donatrons and legacies.,
Donatlons from companies, trusts and similar proceeds
123,000
123,000
123,000
123,000
Unrestrlctsd
funds
Goneral
Total
2024
Donallons and legacies;
Donatlons from companie8. trusts and Similai proceeds
150.173
150,173
150 173
4 Investment Incomo
Unrestrlctsd
funds
Gonoral
Total
funds
Intere8t receivable and simllar income;
Interest racelvable on bank deposSt8
Totsl for 2026
Total for 2024
28
28
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DVS Foundatlon
Notes to the Financial Ststements for the Year Ended 31 March 2025
S Expenditure on charltable actlvities
Unrestrkted
funds
General
Total
2025
Granls, award5 and donations
101,454
101.454
Unrestrlctod
funds
General
Total
2024
Granls. awards and donations
120,594
120.594
6 Other expenditure
Unrestricted
funds
General
Total
funds
Staff costs
Wages and salaries
Pension costs
Other resources expended
Total for 2025
17,949
259
1.263
17,949
259
1,263
19.471
19,471
Total for 2024
29.931
29,931
7 Taxatlon
The charity is a registered charity and is therefore exempt from taxation.
8 Cash and cash equivalents
2026
2024
Cash al bank
2,474
2.262
Pag8 15

DVS Foundatlon
Notes to the Financial Ststements for the Year Ended 31 March 2025
9 Credltors: amounts falllng due wlthln one year
2025
2024
Olh8r taxation and social security
Other creditors
676
181
181
2,078
qo Penslon and other sGh•me8
Deflned contrlbutlon ponslon 8¢heme
The charty operates a defined contributK)n pension scheme. The pen8ion cost charge for the year
ropresents contrfbutlon8 payable by the charity to the 8cheme and amounted to £259 {2024 - £655).
11 Funds
Balance at 1
Aprll 2024
Incomlng
resources
R•sources
expended
Balanc• at 31
March 2026
Unr•strf¢tsd funds
General
123.034
120.925
8alan¢e at 1
Aprll 2023
Incomlng
resources
R•8our¢e$
expended
Balance at 31
March 2024
Unre8trf¢ted funds
General
150,201
150.525
Page 16