**Charity number: 1150109**
##
## **V.K. & P.V. Mirpuri Foundation**
**“Drops of Kindness”**
**Trustees' report and financial statements For the year ended 31[st] December 2022**
**V.K. & P.V. Mirpuri Foundation “Drops of Kindness”**
## **Contents**
||Page|
|---|---|
|Legal and administrative information|1|
|Trustees report|2-3|
|Independent examiners' report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7-10|
**V.K. & P.V. Mirpuri Foundation “Drops of Kindness” Legal and administrative information**
|**Charity number**|1150109||
|---|---|---|
|**Principal address**|Krishna Kripa||
||23 Vaughan Avenue||
||London||
||NW4 4HT||
|**Trustees**|Deepak Mirpuri|Trustee|
||Geetanjali Mirpuri|Trustee|
|**Accountants**|Ash & Associates||
||Chartered Accountants||
||First Floor||
||1A Leadenhall Market||
||London||
||EC3V 1LR||
|**Principal Bankers**|Barclays Bank||
||129 Brent Street||
||Hendon||
||London||
||NW4 2DU||
Page 1
**V.K. & P.V. Mirpuri Foundation “Drops of Kindness”**
**Report of the trustees For the year ended 31[st] December 2022**
The trustees present their report and the financial statements for the year ended 31[st] December 2022. The trustees who served during the year and up to the date of this report are set out on page 1.
## **Structure, governance and management**
V.K. & P.V. Mirpuri Foundation is registered with the Charity Commission (Registration number 1150109) and constituted by a trust deed dated 18[th] July 2011 as amended by a deed of variation dated 8[th] December 2012. The charity is run and administered by the trustees. The trustees have assessed the major risks to which the charity is exposed, and are satisfied that the systems are in place to mitigate exposure to the major risks.
## **Objectives and activities**
The objects of the charity are:
- The advancement of Hindu religion
- The advancement of Education
- The relief of poverty, hardship and illness amongst the homeless and needy;
To meet this objective the charity seeks donations from the community along with rents received from the investment property and provides grants and donations to other charities in line with its objects. There have been no changes in the charity's objects or policies during the year.
## **Financial review**
The charity had net incoming resources of £16,199 (2021 - £41,757) resulting in a total funds carried forward at 31[st] December 2022 of £707,908 (2021 - £691,709).
## **Statement of trustees' responsibilities**
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
Page 2
## **V.K. & P.V. Mirpuri Foundation “Drops of Kindness”**
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the board
D. Mirpuri Trustee
21[st] September 2023
Page 3
**V.K. & P.V. Mirpuri Foundation “Drops of Kindness”**
## **Independent examiner's report to the trustees on the unaudited financial statements of V.K. & P.V. Mirpuri Foundation**
We report on the accounts of the V.K. & P.V. Mirpuri Foundation for the year ended 31[st] December 2022 set out on pages 2 to 10.
## **Respective responsibilities of trustees and independent examiner**
As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 144 of the Charities Act 2011 (the Act) does not apply and that an independent examination is needed. It is our responsibility to examine the accounts under section 145 of the Act, to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Act, and to state whether particular matters have come to our attention.
## **Basis of independent examiner's statement**
Our examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented 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 we do not express an audit opinion on the view given by the accounts.
## **Independent examiner's statement**
In connection with our examination, no matter has come to our attention:
- (i) which gives us reasonable cause to believe that in any material respect the requirements:
- to keep proper accounting records in accordance with section 130 of the Act; and
- to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or
- (ii) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
........................................................... **Ash & Associates**
Chartered Accountants First Floor 1A Leadenhall Market London EC3V 1LR
21[st] September 2023
Page 4
## **V.K. & P.V. Mirpuri Foundation “Drops of Kindness”**
## **Statement of financial activities For the year ended 31st December 2022**
|**Notes**
**INCOMING RESOURCES**
**Incoming resources from generated funds**
Voluntary income
2
Investment income
3
**Total incoming resources**
**RESOURCES EXPENDED**
Charitable activities
4
Investment management costs
5
Governance costs
6
**Total resources expended**
**NET INCOME FOR THE YEAR**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|**2022**
**Total**
**£**
13,298
41,523
54,821
36,662
1,206
754
38,622
16,199
691,709
**707,908**|**2021**
**Total**
**£**
8,371
72,681|
|---|---|---|
|||81,052
37,616
902
777|
|||39,295|
|||41,757
649,952|
|||**691,709**|
All incoming resources and resources expended arise from continuing activities.
The notes on pages 7 to 10 form part of these financial statements
Page 5
## **V.K. & P.V. Mirpuri Foundation “Drops of Kindness”**
## **Balance Sheet as at 31st December 2022**
|**Notes**
**FIXED ASSETS**
Investment Property
7
**CURRENT ASSETS**
Debtors
8
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
9
**NET CURRENT ASSETS**
**NET ASSETS**
**FUNDS**
10
Unrestricted funds
Endowment funds
**TOTAL FUNDS**|**2022**
**£**
**£**
563,210
991
144,427
145,418
(720)
144,698
707,908
172,908
535,000
707,908|**2021**
**£**
**£**
563,210
991
126,198
127,189
(690)
128,499
691,709
156,709
535,000
691,709|**2021**
**£**
**£**
563,210
991
126,198
127,189
(690)
128,499
691,709
156,709
535,000
691,709|
|---|---|---|---|
|||
||
||||691,709|
||||156,709
535,000|
||||691,709|
The financial statements were approved by the trustees on 21[st] September 2023 and signed on its behalf by:
Mr D. Mirpuri Trustee
The notes on pages 7 to 10 form part of these financial statements
Page 6
**V.K. & P.V. Mirpuri Foundation “Drops of Kindness”**
**Notes to financial statements For the year ended 31[st] December 2022**
## **1. Accounting policies**
## **1.1 Basis of accounting**
The financial statements of the charity, which is a public benefit entity under FRS102 are prepared under the historical cost convention and in accordance with FRS102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS102 and the Charities Act 2011.
## **1.2 Incoming resources**
All incoming resources are included in the statement of financial activities when 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:
Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable.
Income from investments is included in the year in which it is receivable.
## **1.3 Resources expended**
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include costs incurred in managing and maintaining the charity’s freehold property.
## **1.4 Tangible fixed assets and depreciation**
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Investment Property
- not provided
Page 7
## **V.K. & P.V. Mirpuri Foundation “Drops of Kindness”**
## **Notes to financial statements For the year ended 31st December 2022**
|**2. Voluntary income**
Donations
Gift aid
**3. Investment income**
Rent receivable from investment property
Insurance recharge – investment property
Bank interest receivable
**4. Costs of charitable activities**
Donations made
Events
**5. Investment management expenses**
Printing, postage & stationery – for investment property
Legal fees
Buildings insurance – for investment property|**2022**
**£**
13,112
186
13,298
**2022**
**£**
40,500
991
32
41,523
**2022**
**£**
36,662
-
36,662
**2022**
**£**
-
215
991
1,206|**2021**
**£**
8,170
201
8,371
**2021**
**£**
67,500
5,171
10
72,681
**2021**
**£**
37,319
297
37,616
**2021**
**£**
-
36
866
902|
|---|---|---|
||||
Page 8
## **V.K. & P.V. Mirpuri Foundation “Drops of Kindness”**
## **Notes to financial statements For the year ended 31st December 2022**
|**6. Governance Costs**
**2022**
**£**
Printing, postage & stationery
-
Bank charges
34
Accountancy fees
720
754
**7. Tangible fixed assets**
**Investment**
**Property**
**£**
**Cost**
At 1stJanuary 2022
563,210
Additions during the year
-
At 31st December 2022
563,210
**Depreciation**
At 1stJanuary 2022
-
Charge for the year
-
At 31st December 2022
-
**Net Book Values**
At 31st December 2022
563,210
At 31st December 2021
563,210
**8. Debtors**
**2022**
**£**
Prepayments
991
Insurance arrears
-
991
**9. Creditors: amounts falling due within one year**
**2022**
**£**
Accrued Expenses
720
Deferred Income
-
720|**2021**
**£**
-
87
690
777
**2021**
**£**
991
-
991
**2021**
**£**
690
-
690|
|---|---|
Page 9
**V.K. & P.V. Mirpuri Foundation “Drops of Kindness”**
## **Notes to financial statements For the year ended 31st December 2022**
## **10. Movement in funds**
|**vement in funds**||||
|---|---|---|---|
|||**Net**||
|||**movement**||
||**At 1.01.22**|**in funds**|**At 31.12.22**|
||**£**|**£**|**£**|
|**Unrestricted funds**||||
|General fund|156,709|
16,199|
172,908|
|**Endowment funds**||||
|Investment Property|535,000|-|535,000|
||691,709|16,199|707,908|
|Net movement in funds, included in the above are as follows:||||
||**Incoming**|**Resources**|**Movement in**|
||**resources**|**expended**|**funds**|
||**£**|**£**|**£**|
|**Unrestricted funds**||||
|General fund|54,821|
(38,622)|
16,199|
|**Endowment funds**||||
|Investment Property|-|-|-|
||54,821|(38,622)|16,199|
## **Endowment fund**
This fund represents a gift of a commercial investment property by the Late Mr V.K. Mirpuri and the Late Mrs P.V. Mirpuri. The property is to be held as an expendable endowment, with the trustees applying the rental income received to further the charity’s objects. The trustees also have the discretion to sell the property if they see fit to do so, applying the sale proceeds to further the charity’s objects.
Page 10