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
1
## **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.
2
**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.
3
**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
4
**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
5
## **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.
6
## **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**|
|||||||||
7
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
8
**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.
9
## **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.
10
## **RISHI'S VISION Company number CE000439**
|**6 Detailed Statement of Financial Activities for the**
**year ended 31 May 2024**
Appeals and Donations
Rental receipts
HMRC Gift Aid
Total incoming resources
Resources expended
Grants payable in furtherance of the charity's
objectives
Costs of goods and services as a charitable activity
Room hire
Bank charges
Insurance
Equipment expensed
Repairs and maintenance
Depreciation
Professional fees
Hotel
Marketing
Management and administration of the charity
Accountancy fees
Catering
Solicitors
Total expenditure
Surplus for the financial year (net movement in funds)
Reserves Brought forward
Reserves Carried forward|**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|
11