Company registration number: 08512238 Charity registration number: 1153797
THE MAHINDRA FOUNDATION UK
(A company limited by guarantee and registered charity)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
THE MAHINDRA FOUNDATION UK
(A company limited by guarantee and registered charity)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 17 |
THE MAHINDRA FOUNDATION UK
(A company limited by guarantee and registered charity)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MAY 2023
| Trustees | Mr Anand Gopal Mahindra |
|---|---|
| Ms Aalika Mahindra | |
| Mr Bharat Narotam Doshi | |
| Mr Zhooben Dossabhay Bhiwandiwala | |
| Ms Sheetal Mehta | |
| Company registered number 08512238 Charity registered number 1153797 Registered office 6th Floor 2 London Wall Place London EC2Y 5AU Independent Examiner Yogan Patel FCA MHA Chartered Accountants 2 London Wall Place London EC2Y 5AU Bankers HSBC Bank Plc PO Box 125 2nd Floor 62-76 Park Street London SE1 9DZ |
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THE MAHINDRA FOUNDATION UK
(A company limited by guarantee and registered charity)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MAY 2023
The Trustees present their annual report together with the financial statements of the Charity for the year 1 June 2022 to 31 May 2023. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The objectives of the Charity, as per its governing document and for the furtherance of public benefit, are specifically restricted to the advancement of education, in particular but without limitation to, the education of girls in India and without prejudice to the generality of the foregoing, any other purposes that are exclusively charitable under the law of England and Wales.
b. Grant Making Policy
The Charity raises funds to provide grants in accordance with its objects.
The Trustees meet formally during the year to consider and award grant applications in light of these objects and to further develop the Charity's focus.
The Trustees have reviewed their grant-making policy in light of the Equality Act 2010 and consider that it is compliant with the Act. The Trustees are satisfied that their policy does not unlawfully discriminate against applicants with protected characteristics or in any way contravene the provisions of the Equality Act 2010.
c. Public Benefit
The Trustees have read and are mindful of the public benefit statements issued by the Charity Commission and confirm that they have referred to the guidance contained therein when considering the Charity's aims and objectives and in planning current and future activities and grant making policies.
Achievements and performance
a. Review of Activities and Achievements
During the year, the Trustees approved a grant of £40,000 (2022 - £120,000) to the K.C. Mahindra Education Trust. The grant is to provide educational support to underprivileged girls in India as part of Project Nanhi Kali.
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THE MAHINDRA FOUNDATION UK
(A company limited by guarantee and registered charity)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Risk Management
The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
c. Financial Review
During the period the Charity received total income of £43,138 (2022 - £53,918). Of this, donations from individuals totalled £40,285 (2022 - £52,356). Gift aid tax receivable in the year was £2,808 (2022 - £1,540) with gift aid tax recoverable at the year-end being £2,828 (2022 - £1,787). Total expenditure was £47,646 (2022 - £127,293), including grant expenditure of £40,000 (2022 - £120,000). The net expenditure for the period came to £4,508 (2022 - £73,375). The total funds at the year-end include designated reserves of £26,725 at 31 May 2023 (2022 - £31,233).
d. Reserves Policy
The policy of the Trustees is to retain sufficient funds to at least meet all future committed grants, with the intention to distribute its funds as soon as is reasonably possible. The reserves of £26,725 (2022 - £31,233) held at the year end were considered by the Trustees as being satisfactory to meet all future obligations.
The Trustees maintain a designated fund for Project Nanhi Kali. Each year the Trustees consider the general funds of the Charity and allocate an appropriate sum to be utilised in the following financial periods.
Page 3
THE MAHINDRA FOUNDATION UK
(A company limited by guarantee and registered charity)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023
Structure, governance and management
a. Constitution
The Charity was incorporated on 1 May 2013 and is a Company Limited by Guarantee registered with the Registrar of Companies for England and Wales (Registration number 08512238) and is a Charity registered with the Charity Commission (Registration number 1153797). The Charity is governed by its Memorandum and Articles of Association.
b. Selection, Induction and Training of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
The Trustees, as per the Reference and Administrative Details on page 1, have served for the duration of the financial period and were appointed on incorporation.
Given the above, no policies and procedures have been formally adopted by the Charity for the recruitment and induction of Charity Trustees. However, the Trustees have been made aware of the Charity Commission guidance on the role and responsibilities of Trustees and seek further advice as required.
The training requirements of the Trustees are also considered on an ongoing basis.
Preparation of the Report
This report has been prepared taking advantage of the small companies exemption of the Companies Act 2006.
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THE MAHINDRA FOUNDATION UK
(A company limited by guarantee and registered charity)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Charity 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. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Companies Act 2006. 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
SHEETAL
KAPAL MEHTA
Digitally signed by SHEETAL KAPAL MEHTA DN: c=IN, o=PERSONAL, title=8726, pseudonym=bc02db299df64d29b8bd19f766d81e1a, 2.5.4.20=198f1be387ef80e429f4ee2f5d07e5cbaf419062e7d756721 92ba305db53741a, postalCode=400006, st=Maharashtra, serialNumber=5a60bdd384d68fa4605ba78311b5f21735d602a0ae e62a373886452ae8e2c45a, cn=SHEETAL KAPAL MEHTA Date: 2024.02.26 10:52:34 +05'30'
................................................
Ms Sheetal Mehta Trustee Date:
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THE MAHINDRA FOUNDATION UK
(A company limited by guarantee and registered charity)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MAY 2023
Independent examiner's report to the Trustees of The Mahindra Foundation UK ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 May 2023.
Responsibilities and basis of report
As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
26 February 2023 Signed: Dated:
Yogan Patel FCA
MHA Chartered Accountants 2 London Wall Place London EC2Y 5AU
MHA is the trading name of MacIntyre Hudson LLP, a limited liability partnership in England and Wales (registered number OC312313).
Page 6
THE MAHINDRA FOUNDATION UK
(A company limited by guarantee and registered charity)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MAY 2023
| Note Income from: Donations 3 Total income Expenditure on: Charitable activities 4 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward 9 |
Unrestricted funds 2023 £ 43,138 43,138 47,646 47,646 (4,508) 31,233 (4,508) 26,725 |
Total funds 2023 £ 43,138 43,138 47,646 47,646 (4,508) 31,233 (4,508) 26,725 |
Total funds 2022 £ 53,918 53,918 127,293 127,293 (73,375) 104,608 (73,375) 31,233 |
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
In 2022, all income and expenditure was to / from unrestricted funds.
The notes on pages 9 to 17 form part of these financial statements.
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THE MAHINDRA FOUNDATION UK (A company limited by guarantee and registered charity) REGISTERED NUMBER: 08512238
BALANCE SHEET AS AT 31 MAY 2023
| Note Current assets Debtors 7 Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets Total net assets Charity funds Unrestricted funds 9 Total funds |
2,828 28,139 30,967 (4,242) |
2023 £ 26,725 26,725 26,725 26,725 |
1,787 33,314 35,101 (3,868) |
2022 £ 31,233 |
|---|---|---|---|---|
| 31,233 | ||||
| 31,233 | ||||
| 31,233 |
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
SHEETAL
KAPAL MEHTA
Digitally signed by SHEETAL KAPAL MEHTA DN: c=IN, o=PERSONAL, title=8726, pseudonym=bc02db299df64d29b8bd19f766d81e1a, 2.5.4.20=198f1be387ef80e429f4ee2f5d07e5cbaf419062e7d756 72192ba305db53741a, postalCode=400006, st=Maharashtra, serialNumber=5a60bdd384d68fa4605ba78311b5f21735d602a0 aee62a373886452ae8e2c45a, cn=SHEETAL KAPAL MEHTA Date: 2024.02.26 10:54:23 +05'30'
................................................
Ms Sheetal Mehta
Trustee Date:
The notes on pages 9 to 17 form part of these financial statements.
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THE MAHINDRA FOUNDATION UK
(A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
1. General information
The Mahindra Foundation, UK is a charitable company limited by guarantee and is registered with the Charity Commission (Charity Registered Number 1153979) and Registrar of Companies (Company Registration Number 08512238) in England and Wales.
The address of the registered office is given in the Charity information on page 1 of these financial statements.
The nature of the Charity's operations and principal activities are detailed in the Trustees Report.
In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Mahindra Foundation UK meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are presented in pounds sterling which is the functional currency of the Charity and rounded to the nearest pound.
2.2 Going concern
The Trustees have assessed the going concern and have considered possible events or conditions that might cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees have made this assessment for a period of at least one year from the date of the approval of these financial statements. The Trustees have concluded that there is a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The Charity therefore continues to adopt the going concern basis in preparing its financial statements.
Page 9
THE MAHINDRA FOUNDATION UK
(A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
2. Accounting policies (continued)
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
For donations to be recognised, the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfillment of those conditions is within the control of the Charity and it is probable that they will be fulfilled.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
2.5 Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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THE MAHINDRA FOUNDATION UK
(A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
- Accounting policies (continued)
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.9 Financial instruments
The Charity holds only basic Financial Instruments. The financial assets and liabilities of the Charity are as follows:
Debtors - trade and other debtors (including accrued income) are basic financial instruments and are debt instruments measured at amortised cost as detailed in Note 7. Prepayments are not financial instruments.
Cash at bank - is classified as a basic financial instrument and is measured at face value.
Liabilities - trade creditors, accruals and other creditors will be classified as financial instruments, and are measured at amortised cost as detailed in Note 8. Deferred income is not deemed to be a financial liability, as in the cash settlement has already taken place and there is simply an obligation to deliver charitable services rather than cash or another financial instrument.
2.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Page 11
(A company limited by guarantee and registered charity)
THE MAHINDRA FOUNDATION UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
- Income from donations
| Unrestricted funds 2023 £ Donations Donations 40,285 Gift aid - tax receivable 2,808 Gift aid - repayment interest 45 43,138 Total 2022 53,918 |
Total funds 2023 £ 40,285 2,808 45 43,138 53,918 |
Total funds 2022 £ 52,356 1,540 22 53,918 |
|---|---|---|
4. Analysis of expenditure by charitable activities
| Advancement of education Advancement of education |
Grant funding to KCMET 2023 £ 40,000 Grant funding to KCMET 2022 £ 120,000 |
Support costs 2023 £ 7,646 Support costs 2022 £ 7,293 |
Total funds 2023 £ 47,646 |
|---|---|---|---|
| Total funds 2022 £ 127,293 |
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THE MAHINDRA FOUNDATION UK
(A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
4. Analysis of expenditure by charitable activities (continued)
Analysis of support costs
| Total | Total | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Governance costs | 7,646 | 7,293 |
Included in Governance costs are bank charges of £1,954 (2022 - £2,115), Independent Examiners' remuneration of £4,116 (2022 - £3,742) and accountancy services of £1,575 (2022 - £1,436).
5. Independent examiner's remuneration
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's independent examiner for the independent | ||
| examination of the Charity's annual accounts | 4,116 | 3,742 |
| Fees payable to the Charity's independent examiner in respect of: | ||
| Accountancy services | 1,575 | 1,436 |
6. Trustees' remuneration and expenses
No staff have been employed by the Charity in the current or prior year and the Trustees are considered to be the Key Management Personnel.
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).
During the year ended 31 May 2023, no Trustee expenses have been incurred (2022 - £NIL).
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THE MAHINDRA FOUNDATION UK
(A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
7. Debtors
| Due within one year Gift aid tax receivable Creditors: Amounts falling due within one year Trade creditors Accruals |
2023 £ 2,828 2,828 2023 £ 126 4,116 4,242 |
2022 £ 1,787 |
|---|---|---|
| 1,787 | ||
| 2022 £ 126 3,742 |
||
| 3,868 |
8. Creditors: Amounts falling due within one year
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THE MAHINDRA FOUNDATION UK
(A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
| 9. Statement of funds Statement of funds - current year Balance at 1 June 2022 £ Unrestricted funds Designated funds Project Nanhi Kali 31,233 General funds General Funds - Total Unrestricted funds 31,233 |
Income £ - 43,138 43,138 |
Expenditure £ (40,000) (7,646) (47,646) |
Transfers in/(out) £ 35,492 (35,492) - |
Balance at 31 May 2023 £ 26,725 |
|---|---|---|---|---|
| - | ||||
| 26,725 |
Designated funds
The Mahindra Foundation UK provides a platform to support the education of underprivileged girls in India through Project Nanhi Kali. These funds provide academic support towards improving learning levels, material support like uniform, bags, books and hygiene materials so disadvantaged girls can attend school with dignity and the required social support to enable them to remain in school. Project Nanhi Kali is jointly managed by The K.C. Mahindra Education Trust and Naandi Foundation. Each year the Trustees consider the general funds of the Charity and allocate an appropriate sum to be utilised in the following financial period.
Page 15
THE MAHINDRA FOUNDATION UK
(A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
| 9. Statement of funds (continued) Statement of funds - prior year Balance at 1 June 2021 £ Income £ Unrestricted funds Designated funds Project Nanhi Kali 104,608 - General funds General Funds - 53,918 Total Unrestricted funds 104,608 53,918 10. Analysis of net assets between funds Analysis of net assets between funds - current year Current assets Creditors due within one year Total |
Expenditure £ Transfers in/(out) £ (120,000) 46,625 (7,293) (46,625) (127,293) - Unrestricted funds 2023 £ 30,967 (4,242) 26,725 |
Balance at 31 May 2022 £ 31,233 - 31,233 Total funds 2023 £ 30,967 (4,242) 26,725 |
|---|---|---|
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THE MAHINDRA FOUNDATION UK
(A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
10. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Current assets Creditors due within one year Total |
Unrestricted funds 2022 £ 35,101 (3,868) 31,233 |
Total funds 2022 £ 35,101 (3,868) 31,233 |
|---|---|---|
11. Related party transactions
Anand Mahindra, Aalika Mahindra, Bharat Doshi and Sheetal Mehta are Trustees of both The Mahindra Foundation UK and The K.C. Mahindra Education Trust, a Charity registered in India. During the year, The Mahindra Foundation UK made an unrestricted grant of £40,000 (2022 - £120,000) to The K.C. Mahindra Education Trust. The grant was to provide educational support to underprivileged girls in India as part of Project Nanhi Kali (see Note 4). There are no outstanding balances at 31 May 2023 (2022: £Nil).
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