2024-05-31-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 2024

RISHI'S VISION

Report and accounts For the year ended 31 May 2024

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

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

Chief executive officer

Mrs 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 2024.

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:

Mrs Margaret Mavi Mrs Usha Devi Parmar

Mr Sureshkumar Vallabhbhai Patel

Dr 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:

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.

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 advertising, and charity exhibition stands. 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: Trustees Report

CE000439

The Board of Trustees unanimously decided to donate £125,000 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, social media, radio, exhibitions 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 movement in funds of:	£80,033 (£135,442) (£55,409)

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 2024 £475,063.

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 Registered number: CE000439 Trustees Report

Small company provisions

This report has been prepared in accordance with the provisions in the Charities Act 2011 and SORP applicable to charities subject to the small entities’ regime.

This report was approved by the trustees on 15 September 2024 and signed on its behalf.

Usha D. Parmar Chief executive officer and Trustee

RISHI'S VISION Independent Examiners' Report for the year ended 31 May 2024

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

5 November 2024

RISHI'S VISION

Statement of Financial Activities for the year ended 31 May 2024

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)			2024 Unrestricted £ 34,633 17,802 27,598 80,033 125,000 942 9,500 135,442 -55,409 -55,409	2024 Restricted £ - - - - - - - - -		2024 Total £ 34,633 17,802 27,598 80,033 125,000 942 9,500 135,442 -55,409 -55,409		2023 Total £ 68,237 17,683 21,600
								107,520 20,854 9,500

								30,354 77,166

								77,166

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 2024

Movements in revenue and capital funds for the year ended 31 May 2024

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 2024 £ 475,063	Unrestricted 2024 £ 475,063	Restricted 2024 £ - - - - - - Restricted 2024 £ - - - - -		Total 2024 £ 475,063 475,063 475,063 Total 2024 £ 436,650 - - - 436,650		Total 2023 £ 530,472
		475,063					530,472
		475,063 Unrestricted 2024 £ 436,650 - - - 436,650					530,472
							Total 2023 £ 560,350 - - - 560,350

CE000439

RISHI'S VISION Registered number: Balance Sheet as at 31 May 2024

Fixed assets Notes Tangible assets 2 Current assets Stocks Cash at bank and in hand Creditors amounts falling within a year Net current assets Net assets Capital and reserves Restricted reserves Unrestricted reserves Total funds	68,291 350	2024 £ 437,000 67,941 504,941 - 504,941 504,941	114,200	2023 £ 446,500 113,850 560,350 - 560,350 560,350
			350

The Board of Trustees are satisfied that the organisation is not required to have an audit by virtue of its level of turnover or by virtue of any requirement under its constitution or otherwise. The Board of Trustees also acknowledge their responsibility for ensuring the organisation keeps proper accounting records in accordance with the requirements of the Charities Act 2011 as more fully set out under 'Trustees' Responsibilities' in the Report of the Trustees.

Usha D. Parmar Chief executive officer and Trustee Approved by the board on 5 November 2024

RISHI'S VISION Notes to the Accounts for the year ended 31 May 2024

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 2024

Cost At 1 June 2023 Additions At 31 May 2024 Depreciation At 1 June 2023 Charge for the year At 31 May 2024 Net book value At 31 May 2023 At 31 May 2024				Land and buildings £ 475,000 475,000 28,500 9,500 38,000 446,500 437,000	Plant and machinery etc £ 5,054 - 5,054 5,054 0 5,054 0 0			Total £ 480,054 480,054 33,554 9,500 43,054 456,500 437,000

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 2024 Fixed assets Current Assets Current Liabilities At 31 May 2023 Fixed assets Current Assets Current Liabilities	Unrestricted 437,000 68,291 350 504,941 Unrestricted 446,500 114,200 350 560,350	Designated - - - - Designated - - - -	Restricted - - - - Restricted - - - -	Total 437,000 68,291 350
				504,941
				Total 446,500 114,200 350 560,350

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

2024 2024 Unrestricted Restricted £	2024 Total	2023 Total £
34,633 17,802 27,598	34,633 17,802 27,598	68,237 17,683 21,600
80,033 0	80,033	107,520
125,000	125,000	0
0 192 0 0 0 9,500 0 0 750	0 192 0 0 0 9,500 0 0 750	5,307 49 535 1,996 98 9,500 4,584 671
10,442	10,442	22,739
0 0 0	0 0 0	0 4,020 3,595
0	0	7,615

135,442	135,442	30,354
-55,409 560,350	-55,409 560,350	77,166 483,184
504,941	504,941	560,350