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2022-05-31-accounts

The Company Registration Number is:- 07259502 The Charity Registration Number is:- 1152417

ISHA FOUNDATION

(A company limited by guarantee) Group Report and Consolidated Accounts

31 May 2022

ISHA FOUNDATION Report and accounts for the year ended 31 May 2022

Contents

Page
Reference and administrative details 1
Trustees' Group Annual Report 2
Independent auditor's report 6
Consolidated Statement of Financial Activities 9
Consolidated Balance sheet 10
Charity Statement of Financial Activities (including Prior Year statement) 11
Charity Balance sheet 12
Consolidated Cash flow statement 13
Notes to the consolidated accounts 15

ISHA FOUNDATION

Reference and administrative details

Charity name ISHA FOUNDATION Company registration number 07259502 Charity registration number 1152417 Principal office 111 Whitby Road Big Yellow Storage Co. Ltd. Slough England SL1 3DR Registered Office 111 Whitby Road Big Yellow Storage Co. Ltd. Slough England SL1 3DR Trustees Rahul Prakash Vinod Rao Moumita Sen Sarma Nathalie Theme Ellie Zabbal Banker Barclays Bank 1 Churchill Place London E14 5HP Auditor Lall Ondhia Ltd Chartered Certified Accountant Charter House 8-10 Station Road Manor Park, London E12 5BT

Page 1

ISHA FOUNDATION

Trustees' Group Annual Report for the year ended 31 May 2022

The Trustees, who are also the directors of the company, present their report and the financial statements for the year ended 31 May 2022.

Objectives and Activities

The objectives of the charitable Company is to advance the education of the public in the art and practise of yoga and meditation, in particular but not exclusively in Kriya Yoga, Pranayama and Hatha Yoga, as well as to advance any purpose that is charitable under the laws of England and Wales. The Trustees are satisfied that company has achieved its objectives in the year under review.

Achievements and Performance

The outbreak of the Covid19 pandemic since March 2020 has had a profound impact on how we delivered our yoga programmes. During the pandemic situation, we had developed a new strategic direction to operate mainly through online mode until it was safe for peoples’ gatherings. We made yoga programmes accessible for people via webinars and online recorded sessions. We continued with this approach during the Year-2021.

We had offered Inner Engineering Online (IEO) and Inner Engineering Completion Online (IECO) Programme (initiation into Shambhavi Mahamudra Kriya Meditation Practice) via online webinars with trained yoga teachers. These programmes were well attended from participants all over the UK & Europe.

Over 9,000 people participated in IEO programme across 30 UK & Europe countries. Over 4,500 participants attended online initiation into the Shambhavi Mahamudra Meditation practice. Grace of Yoga, a special online yoga programme was offered with Sadhguru in Mar22. The programme offered powerful yogic practices for health and well-being. Over 2,500 participants from the UK & Europe attended this online programme. Mahashivratri, a night-long celebrations of the event took place 1-2nd March-2022, it was web streamed live and attended by thousands of participants across the UK & Europe.

Sadhguru Exclusive platform offers access to rare and unseen footage and videos of Sadhguru’s teaching to the wider public. There are over 5,500 active subscribers to this site who benefit by having closer access to weekly new videos and learnings.

Following up on legal advice received from our lawyers (Bates Wells) the Board had taken a decision to launch IshaLife as a separate legal commercial entity., and as a fully owned subsidiary of the Foundation.

IshaLife Ltd was incorporated on 14th June 2021, and it became operational on 1st November 2021. This company is wholly owned subsidiary of charity and part of the group.

IshaLife currently operates through two websites in UK and Europe and offers Isha meditators (primarily, not exclusively) access to a number of yoga accessories and other items.

Following Brexit, it was difficult to ship goods to EU countries from the UK and hence IshaLife appointed an Agent, India Import Services, to act on their behalf in the EU, and the Agent substantially manages the sales of Isha Life products in the EU markets under a commercial Agreement. IshaLife will look to expand to other distribution Channels in the future.

Funds raised by IshaLife are donated to the Charity for furtherance of its charitable objectives.

SAVE SOIL Campaign:

Isha Foundation supported activities of Save Soil, a global movement to raise awareness of the universal degradation of soil on the Planet. On 21 March 2022, Sadhguru (Founder, Isha Foundation) set off on a 100-day, 30,000-km lone motorcycle journey from London (UK) to Southern India to activate mass citizen and governmental support. On his journey, Sadhguru met policy makers, experts, influencers and hundreds of thousands of supporters.

Preparation for Sadhguru’s journey and its undertaking across Europe and the Middle East enroute to India, was a huge undertaking for our volunteers and its impact was stupendous:

Page 2

ISHA FOUNDATION

Trustees' Group Annual Report for the year ended 31 May 2022

Save Soil, with inputs from eminent soil scientists, created the Soil Policy Handbooks for 193 nations that serve as the basis for various policy options for their respective regions, based on their soil type, latitude, climatic zones and other factors. We are in direct contact with governments and scientific experts to accelerate policy changes for soil health.

Activities Development and Plans for the Future

We expect all round growth in the Foundations activities:

With the aim of reaching wider public through social media platforms, demands for Isha’s core programmes such as Inner Engineering and other online offerings are expected to increase manifold over the next years. Simultaneously, we will reopen the in-person programmes in the coming months. We are planning to train more volunteers to support yoga programmes as well as to support the increasing numbers of meditators.

We expect to see growth in IshaLife Ltd’s activities through higher reach, and a more diverse offering. This should enhance our Customer base across Europe quite significantly.

Pursuant of s105 order of 28 March 2022 received from the Charity Commission, and the broadening of our own Objectives, we plan to merge Isha Institute of Inner Sciences (UK charity- 1116816) with the Isha Foundation next-year. As a consequence, the Charity will take more concrete steps towards donations and fund raising.

Financial Review

All resources received and expended were in respect of the charitable activities of the company and are treated as unrestricted funds. Excess of income over expenditure for the year amounted to £467,143 (compared to FY21: £1,672,810) and after adding this to the opening reserves of £3,434,144 resulted in the closing unrestricted reserves of £3,901,287 at end of FY22.

Reserves Policy

Reserves are held to fund the charity’s future growth plans and to ensure that the programmes would run without any financial challenges for a minimum of twelve months during these uncertain times. Funds would also be required to service the exponential growth expected over the next few years.

Page 3

ISHA FOUNDATION

Trustees' Group Annual Report for the year ended 31 May 2022

Going Concern

In preparing these financial statements, the Trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to the going concern and using the going concern basis of accounting. The Trustees believe that there are no going concern matters that would affect the Charity for the foreseeable future.

Structure, Governance and Management

The Organisation is governed by its Memorandum and Articles of Association.

All the activities of the Isha Foundation are run by dedicated volunteers and few fulltime employees. These include programme promotion, registrations, programme planning, coordination, communication and supporting yoga practices of the participants etc.

Mr Rahul Prakash and Mr Vinod Rao have been appointed as Trustees and Directors in March-2021. Mr Senthil Kaniappan is Isha’s Regional Coordinators (IRC) for the UK Europe and North America regions and as a trained and experienced yoga teacher he brings significant expertise to support the Trustees . Mr Saurabh Jain has stepped down as the Isha Regional Coordinator (IRC) in January2022.

The Charity’s activities are planned and managed by active Trustees with support from the Regional Co-ordinators. There is a regular contact between the Trustees, IRC, employees, and dedicated volunteers.

Risk Assessment and Monitoring

Risks relating to effective and efficient management of the Foundation’s resources are regularly monitored by the Trustees and the Foundation management. Adequate procedures and controls have been put into place to cover these and in particular risks related to the governance, operations and financial.

Statement of Trustees’ responsibilities

The Trustees (who are also the directors of Isha Foundation for the purposes of Company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice)

Company law requires the Trustees to prepare financial statements for each financial year which gives a true and fair view of the affairs of the charitable company and the incoming resources and application of the resources, including the net income or expenditure, of the charitable company for the year. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Companies Act 2006. 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.

Small company provisions

The report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

Page 4

ISHA FOUNDATION Trustees. Group Annual Report for the year ended 31 May 2022

ISHA FOUNDATION

Independent auditors' report to the trustees of ISHA FOUNDATION

Opinion

We have audited the financial statements of Isha Foundation (the charity) (the parent entity) and its subsidiaries (the group) for the year ended 31 May 2022 which comprise Consolidated Statement of Financial Activities, Consolidated Balance Sheet, Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102. The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

-give a true and far view of the state of the group's and charity's affairs as at 31 May 2022 and of its incoming resource and application of resources for the year then ended;

-have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practice, and

-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (SAS (UQ) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our Opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for is issue.

Our responsibilities and the responsibilities of trustees with respect to going concern are described in the relevant section of the report.

Other Information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees' Group Annual Report other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material Inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to sport in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-The information given in Trustees' Group Annual Report for the financial year for which the financial statement are prepared is consistent with the financial statement; and

-The Trustees' Group Annual Report has been prepared in accordance with applicable legal requirement

Page 6

ISHA FOUNDATION Independent auditors' report to the trustees of ISHA FOUNDATION

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and charitable company (Charity) and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Group Annual Report

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

-the financial statements are not in agreement with the accounting records and returns; or

-certain disclosures of trustees' remuneration specified by law are not made, or

-we have not received all the Information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement within the Trustees' Group Annual Report the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparation the financial statements, the trustees are responsible for assessing the group's ability to continue as a going concern, disclosing as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or charity or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material If, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, Including fraud, are Instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The following laws and regulations were identified as being of significance to the entity:

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised at inquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; review of minutes; testing the appropriateness of entries in the nominal ledger, including journal entries; reviewing transactions around the end of the reporting period; and the performance of analytical procedures to identify unexpected movements in account balances which may be indicative of fraud.

No Instances of material non-compliance were identified. However, the likelihood of detecting regularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than Irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at https://www.fro.org.uk/domsresponsibilites. This description forms part of our auditor's report.

Page 7

ISHA FOUNDATION Independent auditors. report to the trustees of ISHA FOUNDA TION Use ol our report This report is made solely to the charity5 trustees, as a body, in accoidancg Part 4 tsf the charities IAccounl8 and Reports) Regulations 2008. Our au(Jit work has besn undertaken so that might stale to the charity's trustees those matters wa are requirod to stste to them in an aLKlitofs report and for no olhèr purposa. To thè fullèst èxtènt wrmitted by law. we do not awept or assume re5ponsibilily to anyone other than tho Charity and ths eharity's trustèes 8S 8 body, for our audtt watk. for this ieport or for the otmnions WÈ have formed. 'lal Ondhia .¢SFni ry Auditor} for and on behaFf of Lall Ondhla Ltd ¢hart•red Certlfled Accountants Acthuntants and Statutory Auditors Date.. 2810312023 Charter Hou 8-10 station Road Manor PaTk London E125BT Page 8

ISHA Foundation - Consolidated Statement of Financial Activities for the year ended 31 May 2022

Consolidated Statement of Financial Activities for the year ended 31 May 2022

Income
Donations
Charitable activities
Investment
Total income
Expenditures
Charitable activities
Government Cost
Total expenditure
Net income for the year
Transfer between funds
Net income after transfers
Net movement in funds
Reconciliation of funds:-
Total funds brought forward
Prior period adjustments
Total funds carried forward		 Group
Current year
Unrestricted
Funds
2022
£
15,904
2,564,348
165
2,580,417
1,544,768
52,609
1,597,377
983,040
(515,897)
467,143
467,143
3,434,144
-
3,901,287		 Group
Current year
Restricted
Funds
2022
£
839,189
-
-
839,189
1,355,086
-
1,355,086
(515,897)
515,897
-
-
-
-
-		 Group
Current year
Total Funds
2022
£
855,093
2,564,348
165
3,419,606
2,899,854
52,609
2,952,463
467,143
-
467,143
467,143
3,434,144
-
3,901,287		 Charity
Prior year
Unrestricted
Funds
2021
£
167,634
3,322,906
2,166
3,492,706
1,782,456
37,440
1,819,896
1,672,810
1,672,810
1,672,810
1,781,844
(20,510)
3,434,144		 Charity
Prior year
Restricted
Funds
2021
£
10,682
-
-
10,682
12,682
-
12,682
(2,000)
(2,000)
(2,000)
2,000
-
-		 Charity
Prior year
Total Funds
2021
£
178,316
3,322,906
2,166
3,503,388
1,795,138
37,440
1,832,578
1,670,810
1,670,810
1,670,810
1,783,844
(20,510)
3,434,144

The notes attached on pages 15 to 26 form an integral part of these accounts.

Page 9

ISHA FOUNDATION - Consolklatsd Balanc• 8h••t as at 31 May 2022 269.992 372.801 3 459 978 23.711 CW ￿ bmk and in h•ThJ 3316 163 J.$17.903 278 3,416,071 901 11 11 W,144 3AM114 P*J• 10

ISHA Foundation - Charity Statement of Financial Activities for the year ended 31 May 2022

Charity Statement of Financial Activities for the year ended 31 May 2022

Income
Donations
Charitable activities
Investment
Total income
Expenditures
Charitable activities
Government Cost
Total expenditure
Net income for the year
Transfer between funds
Net income after transfers
Net movement in funds
Reconciliation of funds:-
Total funds brought forward
Prior period adjustments
Total funds carried forward		 Current year
Unrestricted
Funds
2022
£
125,760
2,312,473
7,198
2,445,431
1,421,640
40,751
1,462,391
983,040
(515,897)
467,143
467,143
3,434,144
-
3,901,287		 Current year
Restricted
Funds
2022
£
839,189
-
-
839,189
1,355,086
-
1,355,086
(515,897)
515,897
-
-
-
-
-		 Current year
Total Funds
2022
£
964,949
2,312,473
7,198
3,284,620
2,776,726
40,751
2,817,477
467,143
-
467,143
467,143
3,434,144
-
3,901,287		 Prior year
Unrestricted
Funds
2021
£
167,634
3,322,906
2,166
3,492,706
1,782,456
37,440
1,819,896
1,672,810
1,672,810
1,672,810
1,781,844
(20,510)
3,434,144		 Prior year
Restricted
Funds
2021
£
10,682
-
-
10,682
12,682
-
12,682
(2,000)
(2,000)
(2,000)
2,000
-
-		 Prior year
Total Funds
2021
£
178,316
3,322,906
2,166
3,503,388
1,795,138
37,440
1,832,578
1,670,810
1,670,810
1,670,810
1,783,844
(20,510)
3,434,144

The notes attached on pages 15 to 26 form an integral part of these accounts.

Page 11

ISHA FOUNDATION . Charlty Balanco Shoot as at 31 May 2022 807,108 23.7115 52￿.9?9 ,117 3.31&163 3.J4Y) 144 11 11 1434.144 JM247 Pag• 12

ISHA FOUNDATION

Consolidated Cash Flow Statement for the year ended 31 May 2022

Cash flows from operating activities
Net cash provided by operating activities as shown below
Cash flows from investing activities
Loan given during the year
Net cash used in investing activities
Cash flows from financing activities
Capital repayment
Net cash provided by financing activities
Overall cash provided by all activities
Cash movements
Change in cash and cash equivalents from activities in the year
ended 31 May 2022
Cash and cash equivalents at 1 June 2021
Cash at Bank and in Hand less overdrafts at 31 May 2022		 Group
2022
£
143,813
-
-
-
-
143,813
143,813
3,316,163
3,459,976		 Charity
2021
£
1,645,558
-
-
-
-
1,645,558
1,645,558
1,670,605
3,316,163

Page 13

ISHA FOUNDATION

Consolidated Cash Flow Statement for the year ended 31 May 2022

Reconciliation of net income to net cash flow from operating activities
Net income as shown in the Statement of Financial Activities
Adjustments for :-
Depreciation Charges
Loss on the sales of fixed and Intangible Assets
Other gains and losses-Prior year adjustments
Decrease/(increase) in stocks
Decrease/(increase) in debtors
(Decrease)/increase in creditors excluding loans
Net cash provided by operating activities
Analysis of cash and cash equivalents
Cash in hand at for the year ended 31 May 2022
Total cash and cash equivalents		 Group
467,143
5,702
-
-
(164,855)
(246,278)
82,101
143,813
2022
£
3,459,976
3,459,976		 Charity
1,670,810
7,629
2,008
(20,510)
66,079
60,290
(140,748)
1,645,558
2021
£
3,316,163
3,316,163

Page 14

ISHA FOUNDATION

Notes to the Consolidated Accounts for the year ended 31 May 2022

1 Accounting policies

Basis of preparation and accounting convention

The accounts have been prepared on the accruals basis, in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charles SORP (FRS102)) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

They also comply with the Companies Act 2006 and the Charities Act 2011

The trust constitutes a public benefits entity as defined by FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Basis of consolidation

The group financial statements consolidate the financial statements of the Charity and its subsidiary undertakings drawn up to 31 May 2022.

A subsidiary is an entity controlled by the charity. Control is achieved where the charity has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

The results of subsidiaries acquired or disposed of during the year are included in the consolidated statement of financial activities from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of the subsidiaries to bring their accounting policies into line with those used by the group.

The purchase method of accounting is used to accounts for business combinations that result from the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired, and liabilities and contingent liabilities assumed, in a business combination are measured initially at fair value at the acquisition date. Any excess between the cost of business combination over the net fair value of the identifiable assets, liabilities and contingent liabilities, is recorded as goodwill.

Intergroup transactions and balances between the charity and its subsidiaries are eliminated in full on consolidation.

Income recognition

Donations are recognised where there is entitlement, certainty of receipt and the amount can be measured with Sufficient reliability

Investment income is recognised on a receivable basis

Income from chartable activities include Income recognised as earned (as the related goods or services are provided) under contract, and recognised where there is entitlement, certainty of receipt and the amount can be manured with sufficient reliability.

All income is accounted for gross, before deducting any related fees or costs.

Recognition of liabilities and expenditure

A Liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated.

Charitable expenditures comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be directly allocated to such activities and those costs of an Indirect nature necessary to support them.

Tangible fixed asset and depreciation

All gains on fixed asset revaluations, whether realised or unrealised, are included in of the Statement of Financial Activities.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost less any estimated residual value, over their expected useful economic life as follows:

Plant and Machinery 20% on reducing balance method Motor Vehicle 20% on reducing balance method

Page 15

ISHA FOUNDATION

Notes to the Consolidated Accounts for the year ended 31 May 2022

1 Accounting policies

Stock

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.

Debtors

Trade debtors are recognised initially at the transaction prices. They are subsequently measured at amortised cost using the effective interest method, less provision for Impairment. A provision for Impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amount due according to the original terms of receivables.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments

Creditors

Trade creditors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method. Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured at fair value, net of transaction costs, and are measured subsequently at amortised cost using effective interest method.

Taxation

The charity is exempt from corporation tax on income and gains falling within section 505 of the Taxes Act 1985 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

Hire purchase

Assets obtained under hire purchase contracts are capitalised in the balance sheet and are depreciated over their estimated useful lives.

The interest element of these obligation is charged to the statement of financial activities over the relevant period. The Capital element of the future payments is treated as a liability.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an Appeal or as implied by law.

Page 16

ISHA FOUNDATION

Notes to the Consolidated Accounts for the year ended 31 May 2022

2 Net surplus before tax in the financial year

2 Net surplus before tax in the financial year
The net surplus before tax in the financial year is stated after charging:-
Depreciation of the owned Assets
Depreciation of assets held under finance Lease and hire purchases contracts
Auditors' remuneration
3 Interest Payable
Hire Purchase interest
4 Staff costs and emoluments
Salary costs
Salaries
Social Security Costs
Pension costs
Total Salaries, Wages and Related Costs
Average number of Employee
The Number of employee whose employee benefit(excluding employer Pension costs) exceeded £60,000 was:
60,001- 70,000
70,001-80,000		 Group
2022
£
2,345
3,357
14,600
Group
2022
£
888
888
Group
2022
£
361,838
43,216
7,373
412,427
10
Group
2022
2
Nil
2		 Charity
2021
£
3,432
4,197
9,000
Charity
2021
£
888
888
Charity
2021
£
464,033
51,915
7,115
523,063
11
Charity
2021
2
Nil
2

Page 17

ISHA FOUNDATION

Notes to the Consolidated Accounts for the year ended 31 May 2022

5 Tangible fixed Assets

Group
Cost
At 1 June 2021
At 31 May 2022
Depreciation
At 1 June 2021
Charges for the Year
At 31 May 2022
Net book Value
At 31 May 2022
At 31 May 2021
Charity
Cost
At 1 June 2021
At 31 May 2022
Depreciation
At 1 June 2021
Charges for the Year
At 31 May 2022
Net book Value
At 31 May 2022
At 31 May 2021		 Plant &
Machinery
£
27,197
27,197
15,473
2,345
17,818
9,379
11,724
Plant &
Machinery
£
27,197
27,197
15,473
2,345
17,818
9,379
11,724		 Motor
Vehicles
£
26,229
26,229
9,443
3,357
12,800
13,429
16,786
Motor
Vehicles
£
26,229
26,229
9,443
3,357
12,800
13,429
16,786		 Total
£
53,426
53,426
24,916
5,702
30,618
22,808
28,510
Total
£
53,426
53,426
24,916
5,702
30,618
22,808
28,510

Page 18

ISHA FOUNDATION

Notes to the Consolidated Accounts for the year ended 31 May 2022

6 Investments

Charity

Shares in company (limited by shares)

Cost or valuation
At 1 June 2021
At 31 May 2022
Carrying amount
At 31 May 2021
At 31 May 2022
The company's investment at the Balance Sheet date in the share capital of company includes the following:
Details of company
IshaLife Limited
Registered Office: England
Nature of Business: Other service activities not elsewhere classified (Trading of Yoga Items)
Class of shares:
Ordinary		 £
-
1
-
1
% holding
100

Page 19

ISHA FOUNDATION

Notes to the Consolidated Accounts for the year ended 31 May 2022

7
Debtors
Trade receivables
Loan receivables
Other debtors
Payments and Accrued Income		 Group
2022
£
16,228
-
252,964
800
269,992		 Charity
2022
£
204,553
400,000
261,845
800
867,198		 Charity
2021
£
-
-
-
23,714
23,714

8 Creditors: amounts falling due within one year

Accruals
Trade Creditors
Other Creditors
Deferred Income- Unrestricted& designated funds
Finance Lease and HP Contracts
PAYE, NIC VAT and Other taxes		 Group
2022
£
14,000
7,616
38,784
128,780
4,319
24,752
218,251		 Charity
2022
£
7,500
7,616
24,544
128,780
4,319
10,761
183,520		 Charity
2021
£
9,000
7,616
1,935
45,630
4,320
63,331
131,832

9 Creditors: amounts failing due after one Year

Finance Lease and HP Contractors Group
2022
£
6119
6,119		 Charity
2022
£
6,119
6,119		 Charity
2021
£
10,437
10,437

Page 20

ISHA FOUNDATION

Notes to the Consolidated Accounts for the year ended 31 May 2022

10 Net Assets by Fund

Group

At 31 May 2022
Tangible Fixed Assets
Investments
Current Assets
Creditor falling due within one Year
Creditors Falling dues after more than one year
At 1 June 2021
Tangible Fixed Assets
Current Assets
Creditor falling due within one Year
Creditors Falling dues after more than one year		 Unrestricted
Fund
£
22,808
-
4,102,849
(218,251)
(6,119)
3,901,287
Unrestricted
Fund
£
28,510
3,547,903
(131,832)
(10,437)
3,434,144		 Designated
Funds
£
-
-
-
-
-
-
Designated
Funds
£
-
-
-
-
-		 Restricted
Funds
£
-
-
-
-
-
-
Restricted
Funds
£
-
-
-
-
-		 Total Funds
£
22,808
-
4,102,849
(218,251)
(6,119)
3,901,287
Total Funds
£
28,510
3,547,903
(131,832)
(10,437)
3,434,144
Charity
At 31 May 2022
Tangible Fixed Assets
Investments
Current Assets
Creditor falling due within one Year
Creditors Falling dues after more than one year
At 1 June 2021
Tangible Fixed Assets
Current Assets
Creditor falling due within one Year
Creditors Falling dues after more than one year		 Unrestricted
Fund
£
22,808
1
4,068,117
(183,520)
(6,119)
3,901,287
Unrestricted
Fund
£
28,510
3,547,903
(131,832)
(10,437)
3,434,144		 Designated
Funds
£
-
-
-
-
-
-
Designated
Funds
£
-
-
-
-
-		 Restricted
Funds
£
-
-
-
-
-
-
Restricted
Funds
£
-
-
-
-
-		 Total Funds
£
22,808
1
4,068,117
(183,520)
(6,119)
3,901,288
Total Funds
£
28,510
3,547,903
(131,832)
(10,437)
3,434,144

Page 21

ISHA FOUNDATION

Notes to the Consolidated Accounts for the year ended 31 May 2022

11 Changes in total funds over the year as shown in notes 10, analysed by Individual funds

Group
Unrestricted and designated funds
Unrestricted Revenue Funds
Total Unrestricted and designated funds
Restricted Funds:-
Restricted revenue Funds
Total Restricted funds
Total Charity Funds		 Funds brought
forward from
2021		 Movement in
funds in 2022
See Note 12		 Prior Adjustment
in 2022		 Transfer
between funds		 Funds carries
forward to 2023
£ £ £ £ £
3,434,144
3,434,144
-
-
3,434,144		 983,040
983,040
(515,897)
(515,897)
467,143		 -
-
-
-
-		 (515,897)
(515,897)
515,897
515,897
-		 3,901,287
3,901,287
-
-
3,901,287

Changes in total funds over the year as shown in Notes 10, analysed by individual fund - prior year

Unrestricted and designated funds
Unrestricted Revenue Funds
Total Unrestricted and designated funds
Restricted Funds:-
Restricted revenue Funds
Total Restricted funds
Total Charity Funds
Charity
Unrestricted and designated funds
Unrestricted Revenue Funds
Total Unrestricted and designated funds
Restricted Funds:-
Restricted revenue Funds
Total Restricted funds
Total Charity Funds		 Funds brought
forward from
2020		 Movement in
funds in 2021
See Note 12		 Prior Adjustment
in 2021		 Transfer
between funds		 Funds carries
forward to 2022
£ £ £ £ £
1,781,844
1,781,844
2,000
2,000
1,783,844
Funds brought
forward from
2021		 1,672,810
1,672,810
(2,000)
(2,000)
1,670,810
Movement in
funds in 2022
See Note 12		 (20,510)
(20,510)
-
-
(20,510)
Prior Adjustment
in 2022		 -
-
-
-
-
Transfer
between funds		 3,434,144
3,434,144
-
-
3,434,144
Funds carries
forward to 2023
£ £ £ £ £
3,434,144
3,434,144
-
-
3,434,144		 983,040
983,040
(515,897)
(515,897)
467,143		 -
-
-
-
-		 (515,897)
(515,897)
515,897
515,897
-		 3,901,287
3,901,287
-
-
3,901,287

Changes in total funds over the year as shown in Notes 10, analysed by individual fund - prior year

Unrestricted and designated funds
Unrestricted Revenue Funds
Total Unrestricted and designated funds
Restricted Funds:-
Restricted revenue Funds
Total Restricted funds
Total Charity Funds		 Funds brought
forward from
2020		 Movement in
funds in 2021
See Note 12		 Prior Adjustment
in 2021		 Transfer
between funds		 Funds carries
forward to 2022
£ £ £ £ £
1,781,844
1,781,844
2,000
2,000
1,783,844		 1,672,810
1,672,810
(2,000)
(2,000)
1,670,810		 (20,510)
(20,510)
-
-
(20,510)		 -
-
-
-
-		 3,434,144
3,434,144
-
-
3,434,144

Page 22

ISHA FOUNDATION

Notes to the Consolidated Accounts for the year ended 31 May 2022

12 Analysis of movement in funds over the year as shown in Note 11

Group
Unrestricted and Designated funds:-
Unrestricted Revenue Funds
Restricted Fund:-
Restricted Revenue Funds
Unrestricted and Designated funds:-
Unrestricted Revenue Funds
Restricted Fund:-
Restricted Revenue Funds
Charity
Unrestricted and Designated funds:-
Unrestricted Revenue Funds
Restricted Fund:-
Restricted Revenue Funds
Unrestricted and Designated funds:-
Unrestricted Revenue Funds
Restricted Fund:-
Restricted Revenue Funds		 Income
2022
£
2,580,417
839,189
3,419,606
Income
2021
£
3,492,706
10,682
3,503,388
Income
2022
£
2,445,431
839,189
3,284,620
Income
2021
£
3,492,706
10,682
3,503,388		 Expenditure
2022
£
(1,597,377)
(1,355,086)
(2,952,463)
Expenditure
2021
£
(1,819,896)
(12,682)
(1,832,578)
Expenditure
2022
£
(1,462,391)
(1,355,086)
(2,817,477)
Expenditure
2021
£
(1,819,896)
(12,682)
(1,832,578)		 Other Gains &
Losses
2022
£
-
-
-
Other Gains &
Losses
2021
£
-
-
-
Other Gains &
Losses
2022
£
-
-
-
Other Gains &
Losses
2021
£
-
-
-		 Movement in funds
2022
£
983,040
(515,897)
467,143
Movement in funds
2021
£
1,672,810
(2,000)
1,670,810
Movement in funds
2022
£
983,040
(515,897)
467,143
Movement in funds
2021
£
1,672,810
(2,000)
1,670,810

Page 23

ISHA FOUNDATION

Notes to the Consolidated Accounts for the year ended 31 May 2022

13 Income from Donations

Donation And gifts
Donation and Gifts from Individuals
Government grants(CJRS)
Donations for specific projects
Council grants
Total Income From Donation
14 Income from Charitable Activities
Primary Purpose and Ancillary Trading
Promoting Yoga
Books and Merchandise Sales
Total from Charitable activities
15 Investment Income
Bank Interest Receivable
Total Investment Income		 Group
Current year
Unrestricted
Funds
2022
£
15,904
-
-
-
15,904
Group
Current year
Unrestricted
Funds
2022
£
2,091,197
473,151
2,564,348
Group
Current year
Unrestricted
Funds
2022
£
165
165		 Group
Current year
Restricted
Funds
2022
£
-
-
834,059
5,130
839,189
Group
Current year
Restricted
Funds
2022
£
-
-
-
Group
Current year
Restricted
Funds
2022
£
-
-		 Group
Current year
Total Funds
2022
£
15,904
-
834,059
5,130
855,093
Group
Current year
Total Funds
2022
£
2,091,197
473,151
2,564,348
Group
Current year
Total Funds
2022
£
165
165		 Charity
Prior year
Total Funds
2021
£
6,740
160,894
-
10,682
178,316
Charity
Prior year
Total Funds
2021
£
2,818,460
504,446
3,322,906
Charity
Prior year
Total Funds
2021
£
2,166
2,166

Page 24

ISHA FOUNDATION

Notes to the Consolidated Accounts for the year ended 31 May 2022

16 Expenditure on Charitable Activities- Direct Spending

Group
Current year
Unrestricted
Funds
2022
£
Gross wages and Salaries- Charitable activities
400,155
Travel and Subsistence- Chari tables Activities
1,340
Promoting Yoga
661,611
Amount spent for specific projects
-
Consultancy Fees
93,127
Total Direct Spending
1,156,233
17 Expenditure on Charitable Activities - Charitable Trading
Group
Current year
Unrestricted
Funds
2022
£
Books, DVD and Materials
155,765
Total charitable trading Costs
155,765
18 Support Costs for Charitable activities
Group
Current year
Unrestricted
Funds
2022
£
Venue hire and office Services
-
Office and Program supplies
193,200
Equipments and repairs & maintenance expenses
10
Insurances
9,195
Bank Charges
23,441
Hire Purchase Interest
888
Travel and Subsistence
334
Amount spent for specific projects
-
Depreciation & Amortisation in total
5,702
Total Support Costs
232,770		 Group
Current year
Restricted
Funds
2022
£
12,272
-
-
1,210,285
-
1,222,557
Group
Current year
Restricted
Funds
2022
£
48,816
48,816
Group
Current year
Restricted
Funds
2022
£
-
-
-
-
-
-
-
83,712
-
83,712		 Group
Current year
Total Funds
2022
£
412,427
1,340
661,611
1,210,285
93,127
2,378,790
Group
Current year
Total Funds
2022
£
204,581
204,581
Group
Current year
Total Funds
2022
£
-
193,200
10
9,195
23,441
888
334
83,712
5,702
316,482		 Charity
Prior year
Total Funds
2021
£
523,063
3,586
497,371
-
122,791
1,146,811
Charity
Prior year
Total Funds
2021
£
426,901
426,901
Charity
Prior year
Total Funds
2021
£
66,411
88,201
3,317
9,279
45,701
888
-
-
7,629
221,426

Page 25

ISHA FOUNDATION

Notes to the Consolidated Accounts for the year ended 31 May 2022

19 Other Expenditure - Government Costs

Auditor's Fee
Accountancy Fees
Legal and Professional Fees
Total governance costs
Total Charitable Expenditure
Total Direct Spending
Total Charitable Trading costs
Total Support Cost
Total Governance Costs
Total Charitable Trading costs		 Group
Current year
Unrestricted
Funds
2022
£
14,600
3,843
34,166
52,609
Group
Current year
Unrestricted
Funds
2022
£
1,156,233
155,765
232,770
52,609
1,597,377		 Group
Current year
Restricted
Funds
2022
£
-
-
-
-
Group
Current year
Restricted
Funds
2022
£
1,222,557
48,816
83,712
-
1,355,085		 Group
Current year
Total Funds
2022
£
14,600
3,843
34,166
52,609
Group
Current year
Total Funds
2022
£
2,378,790
204,581
316,482
52,609
2,952,462		 Charity
Prior year
Total Funds
2021
£
9,000
-
28,440
37,440
Charity
Prior year
Total Funds
2021
£
1,146,811
426,901
221,426
37,440
1,832,578

20 Total Charitable Expenditure

21 Related parties

Isha Foundation is run on the aims and objectives as practised by Isha Foundation India although both the organisations run independently of each other.

22 Trustees' remuneration and expenses

There are no trustees remunerated or paid expenses during the year. (2021:Nil)

23 Ultimate controlling party

The charity is not under the control of any ultimate controlling party, the trustees collectively controls the charity.

24 Comparative Figures

The charity is preparing group accounts for first time, therefore comparative figures for group accounts are not presented. The comparative figures presented in the group accounts are for the charity's accounts and not comparable with the figures of group accounts.

Page 26