COMPANY NO:05638174
CHARITY NO:1146928
WELLBEING FOUNDATION LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
WELLBEING FOUNDATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR
ENDED 30 NOVEMBER 2024
CONTENTS
Page
Trustee’s report 1-2
Independent examiner’s report 3
Statement of Financial Activities 4
Balance sheet 5
Notes to the Financial Statements 5-7
1
WELLBEING FOUNDATION LIMITED
REPORT OF THE MANAGEMENT COMMITTEE FOR THE YEAR ENDED
30 NOVEMBER 2024
_______________________________________________________________
The Management Committee submit their unaudited financial
statements for the year ended 30 November 2024
REFERENCE AND ADMINISTRATIVE INFORMATION
Management Committee Mr Ashok Chabria-Chairperson/Trustee
Mrs PJ Lakhani-Trustee
Ms SJ |Lakhani-Trustee-(appointed
30 June 2024)
Company Secretary /Treasurer: Mr Ashok Chabria
Registered office: 6, Lea Gardens
Wembley, Middx, HA9 7SE
Charity number: 1146928
Bankers: Barclays Bank, 1, Churchill Place,
London W14 5HP
Structure,Governance and Management
GOVERNING INSTRUMENT
The charity’s objects and regulations are regulated by the
Company’s Memorandum and Articles dated 20 December 2011 as amended
on 18 April 2012 and under these Memoranda, is constituted as an
incorporated body.
RECRUITMENT AND APPOINTMENT OF MANAGEMENT COMMITTEE
The directors of the company are also charity trustees for the
purpose of charity law and under the company’s Articles are known
as members of the Management Committee.
RISK MANAGEMENT
The management committee has conducted its own review of the major
risks to which the charity is exposed. Risks to external funding
have been mitigatedby regular reviews of funds available and by
obtaining funding commitments if necessary.
ORGANISATIONAL STRUCTURE
The trustees are also directors for the purpose of Company Law.
Mrs PJ Lakhani continued as director throughout the year and also
as trustee. Mr Ashok Chabria continued as Company Secretary
throughout the year and as trustee as from 18 April 2012.
Objectives and activities
ACTIVITIES
The company exists for the sole purpose of carrying on its work
propagating Hinduism based on various ancient and modern writings
of great seers and relies on donations for funding its activities.
During the year under review, the charity continued the task of
website development with a view to making available to the general
public the lectures on Hinduism given by the late Mr J J Lakhani.
2
WELLBEING FOUNDATION LIMITED
REPORT OF THE MANAGEMENT COMMITTEE FOR THE YEAR ENDED
30 NOVEMBER 2024
Financial Review
PRINCIPAL FUNDING SOURCES
The attached accounts set out the financial position at the year-
end in which all income was from donations and investment income.
RESERVES POLICY
The management committee have established a policy that
unrestricted funds not committed or invested in tangible fixed
assets held by the charity should be between three and six months
of resources expended.
Internal risks have been minimised by implementation of procedures
for authorisation of all transactionsand projects.
PLANS FOR FUTURE PERIODS
The trustees are considering the funding of education projects for
Hinduism. They also are considering the setting up of a new centre
for the educational work in London.
RESPONSIBILITIES OF THE MANAGEMENT COMMITTEE
Company law requires the trustees to prepare accounts for each
financial year which give a true and fair view of the state of
affairs of the company and of the profit or loss of the company for
that period. In preparing those accounts, the directors are
required to:
*Select suitable accounting policies and then apply them
consistently.
*Make judgements and estimates that are reasonable and prudent.
*Follow applicable accounting standards, subject to any material
departures disclosed and explained in the accounts.
prepare the accounts on a going concern basis unless it is
inappropriate to presume that the company will continue in
business.
The trustees are responsible for keeping proper accounting records
which disclose with reasonable accuracy at any time the financial
position of the company and enable them to ensure that the accounts
comply with the Companies Act 1985. They are also responsible for
safeguarding the assets of the company and hence for taking
reasonable steps for the prevention and detection of fraud and
other irregularities
The trustees have complied with section 4 of the 2011/2016
Charities Act to have due regard to guidance published by the
Charity Commission, including public benefit guidance.
......................
Mrs PJ Lakhani-Trustee
6, Lea Gardens,Wembley
Middx, HA9 7SE
Date:
3
WELLBEING FOUNDATION LIMITED
REPORT THE INDEPENDENT EXAMINER TO THE TRUSTEES OF WELLBEING FOUNDATION LIMITED
I report on the accounts of the Wellbeing Foundation Limited for the year
ended 30 November 2024 which are set out on pages 4 to 7
Respective responsibilities of trustees and examiner.
The charity’s trustees are responsible for the preparation of the
accounts. The charity’s trustees you consider that an audit is not
required under section 144 of the Charities Act 2011(the 2011 Act), and
that an independent examination is needed. (The Charity is preparing
accrued accounts, and I am qualified to undertake the examination by
being a qualified member of the Association of Chartered Certified
Accountants.)
It is my responsibility to:
-
Examine the accounts under section 145 of the 2011 Act.
-
To follow the procedures laid down in the General Directions given by the Charity Commission under Section 145(5) of the 2011 Act: and
-
To state whether particular matters have come to my attention
Basis of independent examiner’s report .
My examination was carried out in accordance with the General Directions
given by the Charity Commissioners. An examination includes a review of
the accounting records kept by the charity and a comparison of the
accounts with those records.
It also includes consideration of any unusual items or disclosures in the
accounts and seeking explanations from you as trustees concerning any
such matters. The procedures undertaken do not provide all the evidence
that would be required in an audit, and consequently I do not express an
audit opinion on the view given by the accounts.
Independent examiner’s statement .
In connection with my examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that in any material
respect the requirements.
(a)to keep accounting records in accordance with section 130 of the
Charities Act 2011; and
(b)to prepare accounts which accord with accounting records and to comply
with the accounting requirements of the 2011 Act have not been met: or
2. to which in our opinion, attention should be drawn in order to enable
a proper understanding of the accounts to be reached.
PS Patel,FCCA
Association of Chartered Certified Accountants
54,Forest Road,
London.N9 8RX
4
WELLBEING FOUNDATION LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2024
|
|
Unrestricted Total |
Unrestricted Total |
Total |
|
|
Fund
|
funds |
funds |
|
Note |
2024
|
2024 |
2023 |
INCOMING RESOURCES |
|
£ |
£ |
£ |
Donations and legacies |
|
22320 |
22320 |
21123 |
Income from investments |
2 |
3022 |
3022 |
410 |
Other income |
|
823 |
823 |
100 |
|
|
------- |
------ |
------- |
Total income and endowments |
|
26165 |
26165 |
21633 |
|
|
------- |
------ |
------- |
Charitable activities |
7 |
21760 |
21760 |
20292 |
Other expenditure |
7 |
886 |
886 |
582 |
|
|
------ |
------ |
----- |
|
|
22646 |
22646 |
20874 |
|
|
------ |
------ |
----- |
Net movement in funds |
|
3519 |
3519 |
759 |
Fund balances brought forward |
|
269312 |
269312 |
268553 |
|
|
------- |
------- |
------ |
Fund balances carried forward |
|
272831 |
272831 |
269312 |
|
|
======= |
======= |
====== |
The company has no recognised gains and losses other than the
surplus for the year.
5
WELLBEING FOUNDATION LIMITED
_______________
BALANCE SHEET AS AT 30 NOVEMBER 2024
___________________________________________________________________
___
_____________________
___ |
________ |
________ |
_________ |
_______ |
________ |
|
|
|
2024 |
|
2023 |
|
|
£ |
£ |
£ |
£ |
|
Note |
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
Debtors |
|
10007 |
|
5535 |
|
Cash at bank |
|
264124 |
|
265027 |
|
|
|
------ |
|
------ |
|
|
|
274131 |
|
270562 |
|
CURRENT LIABILITIES |
|
|
|
|
|
Creditors: Amounts falling |
|
|
|
|
|
due within one year |
4 |
1300 |
|
1250 |
|
|
|
------ |
|
----- |
|
NET CURRENT ASSETS |
|
|
272831 |
|
269312 |
|
|
|
------- |
|
------ |
NET ASSETS |
|
|
272831 |
|
269312 |
|
|
|
======= |
|
====== |
FINANCED BY: |
|
|
|
|
|
Unrestricted funds |
|
|
272831 |
|
269312 |
|
|
|
------ |
|
------ |
|
|
|
272831 |
|
269312 |
|
|
|
======= |
|
====== |
The directors:
a) consider that the company is entitled to exemption from the
requirement to have an audit under the provisions of Section 477 of
the Companies Act 2006.
b) have confirmed that members have not required the company under
Section 476 of the Companies Act 2006 to obtain an audit for the
period ended 30 November 2024.
c) acknowledge their responsibilities for ensuring that the company
keeps accounting records which comply with the Companies Act 2006.
d)acknowledge their responsibilities for preparing accounts which
give a true and fair view of state of affairs of the company as at
30 November 2024 and of its or profit for the year then ended in
accordance with the requirements of the Act relating to accounts,
so far as applicable to this company.
The financial statements, which have been prepared in accordance
with the special provisions of Part 15 of the Companies Act 2006
applicable to small companies were approved by the board on
........................and signed on its behalf.
Director..........................
Mrs PJ Lakhani
Date:
6
WELLBEING FOUNDATION LIMITED
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2024
1 PRINCIPAL ACCOUNTING POLICIES
a. Basis of accounting
The financial statements have been prepared under the
historical cost convention, with items recognised at cost or
transaction value unless otherwise stated in the relevant
notes to the accounts. The accounts are in accordance with the
Statement of Recommended Practice: Accounting and Reporting
for Charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic
of Ireland (FRS102) issued on 16 July 2014 and the Charities
Act 2011.
The trustees consider that there are no material uncertainties
about the Trust’s ability to continue as a going concern.
Turnover represents voluntary income from donations.
Expenditure is inclusive of Value Added Tax.
All turnover is derived in the United Kingdom.
1.2 Fund accounting
Unrestricted funds are available for use at the discretion of
the trustees in furtherance of the general objectives of the
charity.
1.3 Incoming resources
All incoming resources are included in the statement of
financial activities when the charity is entitled to the
income and the income can be quantified with reasonable
accuracy.
Voluntary income, donations, rents, interest received, and
other income are accounted for as received by the charity. No
permanent endowments have been received in the period. All
income arose in the United Kingdom.
1.4 Resources expended.
Expenditure is recognized on an accrual basis as a liability
is incurred. Expenditure includes any VAT which cannot be
recovered and is reported as part of the expenditure to which
it related.
-
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services 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.
-
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include audit fees and costs linked to the strategic planning for the growth of the charity.
WELLBEING FOUNDATION LIMITED
7
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2024
1.5 Creditors and provisions
Creditors and provisions are recognised where the charity has a
present obligation resulting from a past event that will probably
result in the transfer of funds to a third party and the amount due
to settle the obligation can be measured or estimated reliably.
Creditors and provisions are normally recognised at their
settlement amount after allowing for any trade discounts due.
2 |
INVESTMENT INCOME
|
2024 |
2023 |
|
|
£ |
£ |
|
Bank interest received
|
3022 |
410 |
|
|
==== |
==== |
3 |
INTEREST PAYABLE AND SIMILAR CHARGES |
|
|
|
|
2024 |
2023 |
|
|
£ |
£ |
|
On bank loans and overdraft
|
-
|
- |
|
|
==== |
==== |
4 |
CREDITORS:amounts falling due |
2024 |
2023 |
|
within one year |
£ |
£ |
|
Director’s loan account
|
750 |
750 |
|
Accruals |
550 |
500 |
|
Other creditors
|
- |
- |
|
|
---- |
---- |
|
|
1300 |
1250 |
|
|
==== |
==== |
5 RELATED PARTY TRANSACTIONS
There were no transactions in the period covered by these
accounts requiring disclosure within the meaning of FRS 8.
6 FUNDS
All the funds of the charity are unrestricted.
WELLBEING FOUNDATION LIMITED
8
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2024
7 TOTAL RESOURCES EXPENDED
Costs directly
allocated to |
Basis
of
allocation |
Basis
of
allocation |
Charitable
activities |
Other
expenditure |
Total
2024 |
Total
2023 |
activities |
|
|
|
|
|
|
Bank charges |
Direct |
|
- |
- |
- |
- |
Internet costs |
Direct |
|
11313 |
- |
11313 |
10062 |
Donations |
Direct |
|
- |
- |
- |
- |
Telephone |
Direct |
|
- |
- |
- |
- |
Accountancy |
Direct |
|
- |
800 |
800 |
500 |
Professional |
Direct |
|
- |
86 |
86 |
82 |
fees |
|
|
|
|
|
|
Subscriptions |
Direct |
|
- |
- |
- |
- |
Utilities |
Direct |
|
1490 |
- |
1490 |
1703 |
Salaries |
Direct |
|
8806 |
- |
8806 |
8315 |
Pension costs |
Direct |
|
151 |
|
151 |
151 |
Sundry |
Direct |
|
- |
- |
- |
61 |
expenses |
|
|
|
|
- |
- |
|
|
|
-------- |
-------- |
------- |
------- |
Total |
|
|
21760 |
886 |
22646 |
20874 |
|
|
|
‘======= |
‘======= |
‘====== |
‘====== |