2022-05-31-accounts - Rishi's Vision

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Company number CE000439

Charity number 1152192

RISHI'S VISION

Annual Report and Financial Statements For

the year ended 31 May 2022

RISHI'S VISION

Report and accounts

For the year ended 31 May 2022

Contents	Page
Statutory information	1
Trustees' report	2
Independent Examiner's report	5
Statement of Financial Activities	6
Balance sheet	8
Notes to the accounts	9
Detailed Statement of Financial Activities	11

RISHI'S VISION Company Information

Trustees

Margaret Mavi Mrs Usha Devi Parmar Sureshkumar Vallabhbhai Patel Dr Uttara Karnik

Chief executive officer

Usha Devi Parmar

Independent Examiner Mothin Ali (FCCA) 2 Victor Street UK Tax Accountants Bradford BD9 4RB

Bankers

Lloyds Bank Highgate Bradford West Yorkshire

Registered office

Sunrise House 140 East Parade Bradford BD1 5BP

Company number CE000439

RISHI'S VISION Registered number: Trustees Report

CE000439

The trustees present their report and un-audited financial statements for the year ended 31 May 2022.

Principal activities

The organisation's principal activity during the year continued to be education and training.

Trustees

The following persons served as trustees during the year: Margaret Mavi Usha Devi Parmar Sureshkumar Vallabhbhai Patel Uttara Karnik

Structure, governance and management

Organisation

The organisation is a Charitable Incorporated Organisation and has no share capital. It is constituted according to a Foundation Model Constitution. The organisation was registered by the Charity Commission on 28 May 2013. It has the charity number 1152192.

Appointment of trustees

The first trustees were appointed in accordance with the Constitution. New trustees are appointed by the existing trustees of the charity. New trustees receive appropriate training. All trustees give their time voluntarily. The trustees who served during the period are shown on the information page.

The trustees review the financial and other risks that the charity faces in order to control these risks as the charity grows in size.

Objectives and activities

Charitable objects

The objects are:

1) To advance the education and training of the public in different methods of meditation including Raja Yoga Meditation, Gyana Yoga Meditation and Karma Yoga Meditation including an awareness of their distinctive features, enabling people to reduce personal stress and understand and experience different meditational practices.

2) Such charitable purposes for the public benefit as are exclusively charitable according to the laws of England and Wales as the trustees may from time to time determine.

The trustees constantly bear in mind the Charity Commission’s guidance on public benefit, when considering its activities. The charity designs its activities with public benefit as its primary concern.

Achievements and performance

During the period the charity has made the public aware of its services through flyers, Radio & TV advertising, and electronic media. All events are open and available to the public. During the period the charity has provided education and training in various mediums and at venues throughout England.

RISHI'S VISION Registered number: CE000439 Trustees Report

The Board of Trustees unanimously decided to donate £40,000 to the Rishi’s Chaitanya Trust in India for a project dedicated to enabling under-privileged girls from a variety of backgrounds, who would not otherwise be able to afford an education, to achieve their full potential.

Future Vision

The charity aims to continue to provide education and training through conferences, seminars, and electronic medium. It also aims to continue to promote the education of deprived females in India.

Trustees' Report

The accounts have been prepared on a cash basis. During the period the charity had

Incoming resources of: The charity expended resources of: The charity has generated an unrestricted deficit on funds of:	£48,715 (£59,814)	£48,715
	(£11,099)

Reserves Policy

The trustees aim to maintain adequate reserves to ensure adequate working capital to sustain the activities of the charity for the foreseeable future. Unrestricted reserves as at 31 May 2022 £453,306

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 Generally Accepted Accounting Practice.

The trustees are required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. 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 judgments 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 charitable organisation will continue in operation.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the SORP. 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.

RISHI'S VISION

Independent Examiners' Report for

the year ended 31 May 2022

Respective responsibilities of trustees and examiner

The trustees (who are also the administrators of the charity for the purposes of charity law) are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to: examine the accounts under section 145 of the Charities Act, to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and to state whether any matters have come to my attention.

Basis of independent examiner’s statement

My examination was carried out in accordance with 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view, and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention to indicate that:

accounting records have not been kept in accordance with Charities Act 2011
the accounts do not accord with such records:
where accounts are prepared on an accruals basis, whether they fail to comply with relevant accounting requirements and, or are not consistent with the Charities SORP (FRS102)
any matter which the examiner believes should be drawn to the attention of the reader to gain

a proper understanding of the accounts.

Mothin Ali (FCCA)

UK Tax Accountants 2 Victor Street Bradford BD9 4RB

22 September 2022

RISHI'S VISION

Statement of Financial Activities for the year ended 31 May 2022

Incoming Resources Revenue grants, legacies & donations A Operating activities in furtherance of charity's objectives Activities for generating funds Net Incoming Resources available for charitable applications Resources expended Grants payable in furtherance of the charity's objectives B Costs of goods and services as a charitable activity Management and administration of the charity Depreciation Total Resources expended Net Incoming Resources before Transfers ( i.e. Total A minus Total B ) C Surplus for the financial year (net movement in funds)	2022 Unrestricted £ 30,913 17,802 48,715 40,000 10,314 9,500 59,814 (11,099) (11,099)	2022 Restricted £ - - - - - - - - -		2022 Total £ 30,913 17,802 48,715 40,000 10,314 9,500 59,814 (11,099) (11,099)	2021 Total £ 34,689 17,715 52,401 90,000 (897) 9,500 98,603 (46,202)
					(46,202)

The net movement in funds referred to above is the net incoming resources as defined in the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales and is reconciled to the total funds as shown in the Balance Sheet as required by the said Statement.

RISHI'S VISION Statement of Financial Activities for the year ended 31 May 2022

Movements in revenue and capital funds for the year ended 31 March 2022

Revenue accumulated fund Accumulated fund brought forward Recognised gains and losses for year Capital Grants Received Transfers to fixed asset funds Closing Accumulated fund There were no designated funds. Summary of funds Revenue funds Designated funds Fund for fixed assets Transfer to restricted fund Total funds	Unrestricted 2022 £ 456,000	Unrestricted 2022 £ 456,000	Restricted 2022 £ - - - - - - Restricted 2022 £ - - - - -		Total 2022 £ 456,000 456,000 456,000 Total 2022 £ 483,184 - - - 483,184		Total 2021 £ 465,500
		456,000					465,500
		456,000 Unrestricted 2022 £ 483,184 - - - 483,184					465,500 Total 2021 £ 494,283 - - - 494,283

RISHI'S VISION

Notes to the Accounts for the year ended 31 May 2022

1 Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities Act 2011.

Fund accounting policy

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity. Further details of each fund is disclosed on the last page (See Detailed Statement of Financial Activities).

Resources expended

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on a cash basis and has been classified under headings that aggregate all costs related to the category. 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. (See Detailed Statement of Financial Activities).

Management and governance costs

These costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Fixtures, fittings, tools and equipment depreciation over 5 years

The policy for any equipment costing £1,000 or less will be charged as equipment expensed.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

2 Tangible fixed assets

RISHI'S VISION

Notes to the Accounts

for the year ended 31 May 2022

Cost At 1 June 2021 Additions At 31 May 2022 Depreciation At 1 June 2021 Charge for the year At 31 May 2022 Net book value At 31 May 2020 At 31 May 2021				Land and buildings £ 475,000 475,000 9,500 9,500 19,000 455,500 456,000	Plant and machinery etc £ 5,054 - 5,054 5,054 0 5,054 0 0				Total £ 480,054 480,054 14,554 9,500 24,054 465,500 456,000

The property was donated to the charity and the valuation is based on market value.

3 Analysis of assets and liabilities representing each of the charity's funds

At 31 May 2022 Unrestricted Fixed assets 456,000 Current Assets Current Liabilities 27,534 350 483,184 At 31 May 2021 Unrestricted Fixed assets 465,500 Current Assets Current Liabilities 29,133 350 494,283	Designated - - - - Designated - - - -	Restricted - - - - Restricted - - - -	Total 456,000 27,534 350
			483,184
			Total 465,500 29,133 350
			494,283

4 Controlling Party

The trustees are the controlling party.

5 Other information

Winding up or dissolution of the charity

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other

charitable body or bodies having similar objects to the charity.

RISHI'S VISION Company number CE000439

2022 2022 Unrestricted Restricted £	2022 Total	2021 Total £
30,913	30,913	34,689
17,802	17,802 0 0 0 0	17,712 0 0 0 0
48,715 0	48,715	52,401

40,000	40,000	90,000

0 21 455 2,553 9,500	0 21 455 0 2,553 9,500 0 0 0 0 0	-3,669 42 537 1,843 0 9,500 0 0 0 0 0
12,528	12,528	8,253

350 6,936	350 6,936	350
7,286	7,286	350

59,814	59,814	98,603

-11,099 494,284	-11,099 494,284	-46,202 494,284
483,184	483,184	448,082