Company regi5tralion nurnber: 07491521
Charity regisiratioll ttumber: 1155152
Palan Foundation
Company Limited by Guar*Dl¢e
inancial Statements
31 J*nu•ry 2020
*A9GRKY￿￿
3011012020
ec￿pANIEs HOUSE
218
AMEY KAMP LLP
Chartered AcuTruntants
31 O Harrow Road
Wembley
Middlesex
HA9 6LL

Palan Foundation
Company Limited by Guarantee
Fin*nciAI Statements
Yegr ended 31 January 2020
Page
Trnstees, annual report (incorpor*ing the directofs T¢￿rt)
Ind¢pendent examinerfs report lo the trusttts
Statement of financial activities {including income and expendilurc a￿ount)
Statement of financial wsition
Statement of cash flows
io
Notes to the fitRDcial statements
li

Palan FoundatioD
Company Limited by Guarantee
Trustee5' Annmal Report (Ineorporating the Director's Report)
Year ended 31 January 2020
The trMsiee4 who are also the dIr￿tOrn for the pUry￿ of company law. preseni their repon and the unaudited
financial ststements of the charity for the year ¢nd¢d 31 January 2020.
Reference and administr*tiv¢ del*lls
R¢gi¥tered ebjrity
Palan Foundatiott
Charlty registratlon Trumber
1155152
Company regI￿rati•ll #umber
07491521
Prln¢ip¥l offtce and reEiSl¢r¢d
offiee
156 Crotnw¢ll R(N•l
IJ)ndon
SW7 4EF
The trusiees
MTS. K. Palan
Mr. N. Palan
Mr. M. Vashi
Mr. M. Palan
Ms. M. Palan
IndepeDdeDt examiner
Mah¢ndra Patel FCA
310 Harmw Road
Wembley
Middlesex
HA9 6LL
Ballkers
Metro Bartk Pk

Palan Foundation
Company Limited by Guarantee
Trustees, Annual Report UneorporatiDg the Direetor's Report) (co￿{￿￿4?
Year ended 31 January 2020
Strueture, governance and MI￿geMent
The organisation is a charitable company limited by EuaTanK Inco￿•rated on 13 January 2011 and registered
as a clwi.ty on 13 December 2013.
The Company established under a memoyandum of a&wciatiort which esthlished the objects and powers of
the charitable eompany and it is Eoverned uThJer its articles of associatton.
All trustees give their time voluntsrily and rxeive no Fthefits from the Charity.
Grant m%kln8 polley
The Foundation only make grants as a financial award to suppon ¢h8rirabl¢ activiti¢s, usually w registered
charities or charitable community groups. bui somelimes to other bodies or to individuals provided that they aT¢
in line with our key objectives. Grdnt rewests are nom)ally rtceived from our exisiing known sources thai we
have a continuous traek record in working with. or the reqU￿ts would corne from sources that we have been able
to mtti personally and have seen their WO￿ in the past. Every grani WoTe FKin8 relea￿d is assess¢d and the
trustees would always meet the recipieni's organI￿lOn or person io ensure thai the dhos and objectives are ￿llY
met and understood.
InsiitutL0115 receiving grants provide regular progress rewTrrts and projttts are visiied on numerous occasions by
the trnsiees of the Foundation and their representhuves. For gJs¢ainabiliry of projects. achievements, the
Foundation seeks io maintain rigorous monitoring and evah4tion PTr￿Ur¢S
Objettives and attAvbtie%
The chaTity incorporntrd on 13 January 2011 aThJ Tegistered as a eI￿rIty on 13 Decernber 2013. The ethos
of thc charity is based on the Hindu philosophy of His Holiness Pramukh Swami Maharaj (1921-2016), who had
inspired millions of people io serve with his lif¢ rne5sage of -In the joy of others lies our own".
Th¢ objects of the charity a￿..
To advaJ)ce and promote the edu¢a¢ion of young people in order io develop tharitsble aDd ￿131 needs to benefit
the wmmunity at large through educational. social and charitable ethos.
The work of the Charity is focused in No geographical areas - Uniied Kingdom and India. This year has b¢en
very exciting and trustees devoted a substsniial amount of their time to prornoting the activities of the clwity.
including A number of visits to India to identify local ￿ oversee various activities. and gain first-haTrJ
expenence of the operdtions.
The tsijstees review the aims. objectives and activitie5 of the chaTity each yvdr. This rqjort looks at thc charitys
?¢hi¢vements and the outcomes of its work in the re￿ttIng I￿10d. The trustees rewrt th¢ success of each kcy
activity and the benefits the charity b&8 brought ￿ those groups of pw>le that 11 is set up kn help. The review
also helps the trustees ensure the ¢han"tys aim4 objectives and aciivilies Temained focused on its slated
purposes.
The trustees have referr¢d to the Buidance contained in the Chtirity Commission's genernl guidance on public
ben¢fit when reviewing the charity's aims and objeciives and in plaTULiTJg its activities. In particular, the
trustees consider how planned activities will contribu* ￿ the aims and objectives that have been sei.

Palan Foundation
Company Limited by Guarantee
Trustees, Annual Report UDcorporatiDg the Director's Report) CconMMedJ
Year ended 31 January 2020
Achievements #nd perforrnante
The charity's mairt acts"vities and beneficiaries are dwibed below. All its Charitsble activities aTe undertaken for
the public benefil. The Charity achieves its objxtives by making grants lo organisation5 and supporting
individuals with burwi¢s.
The trustees consider applications for funditig from organisauons in th¢ UK and India and award5 funding after
consideratioffi of ihe merli of the prowsed aciivity. educational activiiies and impact (m young peopl¢ in
particular.
Edm￿tional activities
Totsl Grants of £50.675 {2019.. £1.138.895) were made durÈn8 the year. Total of £8,630 (2019: £1.089,255) were
paid io Swaminar4yan SaThstha UK.
Scholarships were provided to Young People in UK and in IDdia to further their education. All students 80
through a vigorous proce&s of financial need verification. Grants range from 20/• ￿ IOOO/ts for stydies in UK.
We continue our supp)rt for the residential Girls school in RandesaD and Boys s¢hool in Sarangpur. Girls
showing an in¢redible improvemenl in their perfornjance alld seem io have overcome their disadvanthged
beginnings and are ernbrncing Education in line with the other girl&
Boys in Sarangpur now have additional suprA)rt with part time teaclKrs who are brought in fiDm Delhi
University and they are able to give these young minds a extra boost.
Interfalth *tdv5tles
Totsl £160,23812019.. £109.758) was 5p¢nt to promote various interfaith activities. This includes iothl grant of
£92,175 (2019.. £61,460) paid io various institutions ￿WardS support of Interfaith activities.
This includes a payment of £40,8￿ (2019.. £10,0￿) to Oxford College for Hindu Studies, for them to C8ny out
digitslisaiion work in Nepal of very Precious and antique material that was salvaged after the earthquake. £6.(KJO
was given to Sai School at a contribution towards their Sunday S¢hool, this allowed them ro teach youn8s¢ers
Yery important work to include being able to 5yeak tn their own mother tongue. understsnding their cultural
roots and much more. A grant to Bhrama kwnari5 for £75C(I was also Tnade for sirnilar purpose. Smaller grdnts
were made to National Amiy Museum. Avanii S¢hool, BAPS Organi5aiion all with an outcome of organising
school trips for Young People to be able to broaden thetr kn￿WIedge of the History of Britsin.
Understandlng Heritage
Promoting Contribution of Indian Soldiers in World War I IWWI)
Totsl sp¢nt on this project during the yettr was £ Nil (2019.. £69.484).

PalaD Found2tion
Company Limited by Guarantee
Trustees, Annual Report Uncorporalfing the Dire¢tor'$ Report)
Year ended 31 JADUary 2020
Fin#Deial revlew
Palan Foundarion is currently recetving donations from Golden TouT5 Limited IGTL) which aT¢ applied to the
aims and objKtives of Palan Foundati¢)n in a¢cordan¢e with the objects.
In the year ended 3 1 January 2020, GTL donated £Nil (2019: £3,¢￿,{KXj) io the charity.
Palan Foundation rttejved ￿ndIng from Department foT Communiii¢5 and LAJcal Government for £Nil (2019..
£47,500). All condiiion imFwd on grdllt h&$ I￿1 rnet.
At the end of the financial year, th¢ Charity held unrestyi¢t¢d r¢5erYes of £2.698.151 {2019.. £2,968.721) whith
will meet the inl¢Tim thrget sei by th¢ trustees.
Reserve polley
The trusl¢¢$ remain ¢onc¢rnol alxjut havitig a single sourte of reveDue and have agreed to keep £2 million as
Teserves. An atnount of £1.5￿.000 has b￿n loaned on commercial ierTns to an undertaking in which the charity
has a participaiing inierest and a further £1.000,1)￿ will be kept in liquid assets. This will giv¢ ￿5 th¢ ability to
continue our work in th¢ event that our support from Golden Tours is no longer available.
Going fonctrn
After making appn)priafr eTAuiries. the tru5tces have a rtasonable expectstion thai the charity has adequate
resources to coniinue in operaiional existrnce for the foreseeable ￿ture. For this r¢&son, they believe they
coniinu¢ to adopt the going ¢oncern basis in preparing the fitWLcial statements. With a g(K)d Reserve Policy in
place we do not f4)resee any concerns as regards our ability to caTry on with our work for the foreseeable fuDJre.
Inyestmellt pDIIcy
The chariry uiilises fixed m bank deposit ￿¢0￿1t for Surpluses. Ai 31 January 2020, the amount invested i
f￿cd term deposit wL4 £1,000,0￿ (2019.. £s(KI.(￿).

Palan Foundation
Company LIn￿ted by Guarantee
Trn$tee$' Annual Report OD¢orpor2ling the Director's Report) fcoA*i*tstd)
Year ended 31 January 2019
Appolntment of irustees
The charity 15 committed to ensurirtg governance arrdngements that are robust to ensure that the charity is
Manag￿ in accordanc¢ with the governing docuTneni and cumi legislation as well as adopting procedures of
good prdctice and improve the effeciiveness of the clwity.
Trnsiees are appointed by th¢ existing IM)ard for a periiMI of five years.
Related p¥4rties
Palar] Foundation receives regular donations from Golden Tours Limiied. Mr N. Palan and Mr M. Palan are
trusttcs of Palan Foundation and di￿¢10￿$ of Gold￿ Tours Limiied. Rela*d parties are disclosed in note 23.
Prin¢ipal Risks and UD¢ertslnties
The Trusiees have assessed the major risks of grani uiilisation provided io overseas insritutions, and are 5aiisfied
that systerns are in place ro reduce and mitigate the exposure to risks by engjring regular evalvation monitoring
and follow up for all gfdnts provided ￿ institutions. Furthemlore, the TThstees visii India regularly and are able
to motjitor thes¢ In￿l0J110n$.
Th¢re is a risk of having a single Sou￿¢ of Tevenue which b7￿￿e$ bave mitigaied by having a robusi Reserve
Policy.
Plan5 for fuiwre perAods
Plans for future peri
At the time of writing. the world h&5 Ixen hii by COVID 19 disew and we ar¢ all living in rnther uncertain
circumstsnces. Our main donor Golden Tows 15 going through diffKult times and we do not envisage any
further donations from them for the ftsreseeable fU￿re.
We are intending to ¢oniinue supwtin8 edu￿110￿8] grants in UK $0 thai the current two candidates can
compl¢t¢ their PhD. In India we will coJ]linue supwTrrting work of Young Peoplc but in a much More limited
way. We had promised to supp)rt the building of a Community Centre ill Paris which we are intrnding to assist
as much &s we can.
We will also continue to promote various Hindu femivals as a meaTrs of inierfaith aciiviry and also 5upponiDg the
community during this very diffKuli peri(Kl.
Trustett, respon5ibilitia St*temeni
The ￿￿$teC$. who are also direciors for the purFN)ses of wmpany law. are re$￿AS1b1e for preparing the trustees,
report and the fuwi¢ial ststements in accordance with applicable law and United Kmgdom Accounting
Standards (United Kingth>m Genernlly Accepted Accounting Prac(ice).
Company law requirts the charity tws*es to prepare fmancial ststements for exh y¢u whith give a twe fair
view of the of affairs of the charirable company and th¢ incoming resouw and application of r¢50urce4
in¢ludtng th¢ income and expenditure, for that pericrfl.

Palan Foundation
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Dire¢tor'$ Report)
Year ended 31 January 2020
In preparing ihese financial ststemenL% th¢ tru4¢es are required to..
seleci suithble arxounling poli¢i¢s and then aryly them Consistently.
obserye the methods and principle5 in the applicabk Charities SORP.
make judgments and a￿nting estimates that are reasonabk and prudent.
Th¢ trust¢¢5 are resw)n5ible foT keeping adequate accouniing r¢o)Tds that ar¢ suffi¢ient to Show and explain the
charity's transactions and disclose with ffasonabl¢ a￿￿r4¢y ai any tim¢ the fmancial w51tion of the charity and
enable them to ensure thai the financial stsiements comply with the Companies Aci 2006. They are also
responsible for 5afeguaTding the assets of the charity and hence for thking reasonable step5 for the prevention
and detection of frdud and other irrtgu1￿7tse&
Each of the persons who is a tnhstee at the date of appro￿1 of this rewrt Confirnts thaL
so far as they are awa￿. there 15 no relcvant audit infonnatioti of which the company's auditor is unaware.
they have thken all steps thai they ought io have tsken as a director to make thernselves aware of any
relevant audil infornMtion and io esthblish that th¢ coMpan￿S auditor is aware of thai inforn)aiion.
The trustees are responsible for the maintenance and integnty of the Corpora￿ and fmancial infomiation
included on the chari(abk company's websiie. Legislaiion in the United Kingdom governing the preparation and
disseminaiion of financial staternents may differ fTom legislation in other jurisdictions.
Membets of the charity guaraniee io contribute an amouni not ¢x¢¢¢ding £1 to the assets of the charity in the
event of winding up. The lotsl number of such 8uardntees at 31 January 2020 is 5 (2018.. 5). The Misiees are
members of the ¢harity, but this entitlcs thcm only to voting rights. The trusiees have no beneficial inieresi in the
Iwity.
Sm*ll ¢ompally provisions
This report has been prepar&1 in a￿Ordance with the provisions aNJlicable to eompanies entitkd to the small
companies. exempiion.
The trustees, annual report w&$ approved on
i• I k) and signed on behalf of th¢ board of trus¢Ks by..
Mr. N. Palan
Trustee

Palan Foundation
Company Limited by Guargntee
IDdependent Examiner's Report to tbe Trustees of PalaD Foundation
Year ended 31 Janugry 2020
I report to the truste¢s on my examin*ion of the financial ststem¢nts of P41art Found*iffl (the Charl￿ for the
y¢ar ended 31 January 2020.
R¢spoosibiliti¢s and b*sb of report
As the trustees of the o)mp3ny (and also its direc￿ for the purposes of company law) you ar¢ responsible for
the prepar*ion of the financial ststements in accoTdance with the requiT¢ments of the Companies Act 2￿6 Cthe
2006 Act,).
Having 5atisfi¢d myself that th¢ accounts of the company are not required to be audit￿ under P¥rt 16 of the
2006 Aci and are eligible for independent examin*ion. I r¢w)rt in r¢spect of my examination of the charity's
a¢¢i)unts as ¢orried out under 5#tion 145 of the Charities Act 2011 ('the 2011 Act.). In canying out my
examination I have followed the Directions given by the Charity Commission und¢T section 145(5Kb) of the
2011 ACL
Independent examlner's slatememt
I have compleied my examination. I confwm that no rnatters have come to my attention in conn¢ctEon with th¢
examination giving me caus¢ to believe..
accounting records were not kept in respect of the charity a5 Twuired by sec¢ion 386 of the 2006 Acl"
the financial s￿eMents do not accord with those records. or
the financial staiements do not compfy with the a¢couniing requirements of 5¢Ction 396 of the 2006
Act other than any requiremen¢ that the ac¢ounts give a 'true and faie view which is not a matter
¢onsidered as part of an independent examination. or
the fthancial styiements have not been prepared in accord•nee with th¢ methods and principle$ of the
Ststement of Recommended Pradice for accounting and reporting by charities applicable to charities
preparing their accounts in accordance with the Fiftancial Rep)rting Stsndard applicable in the UK
and Republic of Ireland (FRS 102).
I have no concerns and have come across no thher matters in connection with the examination to which attention
should be drawn in this report in order to enable a proper underslanding of the accounts to be reached.
Mahendrd Paiel FCA
Independeni Examiner
310 Harrow lioad
Wembley
Middlesex
HA9 6LL
Date... ithiol t•

Palan Foundation
Company Limited by Gu8rAntee
Statement of Fin*n¢ial Activities
(inclllding income aDd expenditure aecount)
Year ended 31 January 2020
2(120
Unresttic*d
fvnds Totsl f•nd$
2019
Total funds
No
Ineome and endowm¢•ts
Donaiions and lega¢ies
Investment income
3.047.600
31.807
60.156
60.156
Total IDeome
60,156
60,156
3.079,407
Expenditure
Expenditure on charitsble activilies
Total expenditure
7J
330,726
330J26
,412,172
330,826
330,826
1,412.172
Net {expeDditureyincome n¢1 movement itt fuDds
(270,570)
(270,670>
1.667235
ReeoneiliAti•n of fund5
Toial fvnds brought f0Th￿rd
Total funds earri¢d fonyard
2.968.721
2,968,721
2.09&051
1.301,486
2.698.151
2.968,721
The statement of fthancial activities includes all gains and losses recognixd in th¢ year.
All income and exp￿IlIllYe ¢Jeriv¢ from ¢ontinuing activiii¢s.
The •o¢es ou wge5 11 ts 22 fgrrn part of theser￿￿￿<1￿1 st*ienwtt

Palan Foundation
Company Limited by Guarantee
Statement of FiDaDcial Position
31 Janu4ry 2020
2020
2019
Note
Fixed assets
Invcsthients
Is
Curr¢Dt a55et5
Debtors
Cash ai bank and in hand
17
1,6O9J72
1.148J61
.542.793
1,445.592
2.757.733
2.988,385
Creditors: amounts falllD8 due within ome year
iyet curren¢ assets
J8
59583
19.665
2,698,150
2.698,ISI
2,968,720
2,968.721
Total thssets less currtnt Il*bS1ities
Net 4$5¢ts
2,698.151
2.968,721
Fund$ of the f h¥rity
Unrewicted funds
2.WM151
2.968,721
Total ¢h*rlty funds
20
2,698,151
2,968.721
For the year ending 31 January 2020 the charity was entiiled ￿ exemption from audit under section 477 of th¢
Companies A¢1 2006 relating io small ¢ompanies.
Directors, responsibiliii¢s'.
The rnember5 have not requirEd the company to (lytain an audit of its financial statements for the year
question in accordance with seciion 476"
Th¢ dire¢tors a¢knowl¢dg¢ th¢ir TeswDsibilities for cotnplying with the rtquimnents of the Aci with
res￿1 ￿ accounling records and the preparaiion of fina￿la1 sralements.
These financial staternen￿ have F*en prepared in accordance with the provisions applicable io companie5 subject
to thc smo11 Companies. regime.
These financial statements were approved by the board of trustees arml authorised for issue on LP
and are SL8ned on behalf of the Ixwd by..
Mr. N. Palan
Tnjstee
The p•y$ 11 ty 22 f•rm part of these fiManel•l st•ieffienf&

Palan Foundation
Company Limited by Guarnntee
Statement of Cash Flows
Year ended 3] January 2020
2020
2019
Cash flow$ from optrating aetlvlties
Nei {¢xpeThditure)lincome
(270570)
1,667233
Adjwfftienisfor..
Other in(eresi receivable and similar income
ITJt¢rest ￿Yable and similar charges
Accrued expengesl(in¢ome)
(60,156)
227
5.782
(31,807)
101
(1.068)
Chonges in..
Trade a￿1 other debtors
Trdde and other eredito
(56916) (1.527.349}
34,136
(11.368}
95,744
Cash generated from op¢r4tii)ns
(347,497)
In*rest paid
Interesi ￿e1ved
1227)
50,493
(101)
27,716
Nei ￿5h Iu5¢d inyfrom operatsng activities
(297J3J)
123,359
C8sb flow$ from invesling #ttivides
Puwhases of other investments
Net cash used in invesiing a¢iiviti¢s
Net (decrease)Ilncrus¢ fash aDd cash eqllivalents
Cash *nd ¢4sh equlwxltttis at be8lnDine of ye*r
Cash and ea5h equivalents #t end of year
(297231)
1.445,592
123,358
1,322,234
1.148J61
,445,592
The notes ou p*tes 11 to 22 form part of th¢s¢ fith•tttiil 51atewenl&
io-

Palan Foundation
Colnpany Limlted by Guarantee
Iyotes to the Financial Stalement$
Year ¢nded 31 January 2020
Gemer*l Inform*¢ion
The charity is ? public bencfit entity and a private company limited by guarantee, ryistered in England
and Wales and a re8jStered charity in England and Wales. The addres5 of the registered oifi¢e is 156
Cromwell Road. London. SW7 4EF.
ststement Df complian¢¢
These f]nancial statements have ￿￿en prepaTed in compliance with FRS 102. The Financial Reporting
Standard applicable in the UK and the Republic of Ireland,, the Sthiemeni of Recommended Prdciice
applicable ¢0 ¢hariiies preparing their accounts in accordance with the Financial Reporting Standard
appli¢abl¢ in the UK and Republic of Ireland (FRS 102) (Chan"ties SORP IFRS 102)) and the Companies
Act 2006.
Accounting poli¢i¢s
Basis of preparation
The fina￿181 statejnents have been prepared on the historical cosi basis. &8 rnodified by the revaluation of
certain financial assets and liabilities and investsneni prq)enies Measts￿d at fair value through income or
expenditiire.
The financial statements are prtpaTed in sterling, which is the fvncuo￿I currthcy of the eniiry.
Going ¢oD¢erD
There are no material un¢¢nainties about the charl￿S abiliry to ¢ontinue.
Judgements athd key sourees of estimat10￿ ￿￿certaInty
The preparation of the financial staiemenls requires management io make judgements. estimates and
assumptions that affect the amounts rqM)rted. These estimates and jud8ements are continually reviewed
and are based ort experience and other factory including expecthtions of future eveTJts that are believed to
be reasonabk under the ¢i￿￿M$[an¢Cs.
C•5h 8t b*nk and in hand
Cash ai bank and cth in hand includes cash and short terni highly liquid investrnents with a short maturity
of three rnonths or le￿ from the date of wuisilion or owiing of the deposit or similar accounr. Cash
balances exclude any fvnds held on behalf of seryice users.
Fund 8ccollmting
Urtrestricted ￿rtds are donations and other incoming resou￿ received or Eeneraied for the charitsble
Purposes. It is available for use at the discrfion of the mlsiees in ￿nheTanCe of the general objectives of
the charity.
Restricted funds are to be used for specific PUfTK)se as laid down by grant provider. Expendittwe whi¢h
meets these criteria is charged io the fund. Restricted fimds were mainly for Herits8e proj￿￿.

Palan Foundation
Company Limited by Guarantee
Notes to the Financial Statements f¢•Ati*Med)
Year ended 31 January 2020
Accounting polici¢5
In¢otnin8 rewureeg
lTheotne
Income is re￿niSed when the chariry entiilement to the fimds. any perfOrnwI￿ conditions aitsched to
the income have been met, it is probable thai the income will be received and thai the amount can be
measured relxably.
In¢ome from government and other grants. whether'capital, grants or'revenue. grants. is recognised when
the chanty has entitlemeni io the fiJnd& any wfom)an¢¢ ¢onditlODS attached io the grants hav¢ been mel, it
is probable that the income will be received and the amount ean be measure41 reliably and is noi deferred.
IDteresi reteivable
Interest on fimds held on deposii is included when Tettivable and the amouni can be meawred r¢liably by
the charity,. this is nonnally u￿n noiifi¢ation of the interest paid or payable by the bank.
12-

Palan Foundation
Company Limited by Guarantee
Notes to the Financial Statements froAti￿￿1
Year ended 31 J8nuary 2020
Ac¢o¥nling policies
Resourtes expetsded
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditu￿ is recognised once
there is a legal or constructive obligation to make a payment to a third party, il is probable that settlemenl
will be reqvired and the amouni of the obligaiion b¢ rneasured reliably.
Expenditure is ¢lassified under the following aciivity headings..
Expenditur¢ on Charitable activities
Charithble ex￿￿1￿￿¢ ¢ompris¢5 th05¢ Costs incurred by the ¢hwrity in th¢ d¢livery of its activiti¢S and
$¢rvices for its beneficiaries. It includes both costs that can be all(Katcd dirtttly to such activities and those
costs of an indirect nature necew to support them.
Gr*nt P*yable
Expendiwre on clwitsble a¢uvities includes grants made to the purposes of the charity and the
associated suppon ¢osts. Grants payable are made to third parties in furthcrance of the charity's objects.
Grants are accounted for when either the rt¢Ipi￿l Iw a re&sonable expectation that they will receive
grant and the trustees have agreed to pay th¢ grant without CODditi¢)n, or the recipient bas a reasonable
expectation thai they will receive a grdnt and that any condilion attaching to the grant is outside of the
control of the charity.
Governance costs
Gov¢manc¢ Costs are th¢ costs associawl with the 8ovcrnatKC anangements of the chartty. These costs are
auociated with constilulÈonal and statutory r￿ul1CMents and include any costs a&sociated with the
$￿al¢gi¢ management of the charitys aciiviiies.
Support e0￿1
Resources expended are allo￿led to the particular activity where the ¢0st relaies directly io that activity.
How¢ver, the cost of overdll direction and athninistration of each activity, comprismg the salary and
overhead costs of the central function, 15 alkThted io sUp￿rt cos
Alloc&tion of sllPPQrt costs
All costs are allocated betwecn the expenditUTe categories of the SOFA on a basis designed to reflect the
use of the resource.
Support and gov¢rnanc¢ costs art wholly re-allrtated to the charitable activity at the rdtio of expenditure
on chan"table activitics which are as follows.. -
Educaiion: _
24°A12019= 860/.)
Interf8ith= .
76Y¥J (2019.. 80A)
Heritage". -
0% {2019= 5%)
Investments
Unlisted equity investtnents are initially recorded at cost. and subwu¢ntly rneasured at fair value. If fair
value can￿l be r¢liably measured. &ss¢ts ar¢ me&sured at cost less impairmenL
Listed investTne]]ts are measured at fair value with changes in fair value being r￿Ognised in incom¢ or
expenditure.
13-

Palan Foundation
Company Limited by Guarantee
Notes to the Finanelal Statements
Year ended 31 January 2020
Acc•uniin# polleles
Investments in •55o£iates
Inveslments in assixiates accouDted for in accordance with the Cost model aTe rttorded at Cost less any
accumulated impaimient losses.
Investments in as￿cIat¢S accounied for in accordance with the fair value model are initially record￿ at the
transa¢tion pricc. At each re￿rtIng da*. the investhients are measured ai fair value. with Changes in fair
value taken through income or expendiwre. Where il is imprxtiubl¢ to measure fair value reliably
withoui undue cost or effort, the wst Model will be adoptrd.
Dividends and other distributions received from the investmenr aTe r￿0grtISed as income withoul regard to
whether ihe distributions ar¢ from accumulated profits of the ￿%)CIal¢ arising btfore or after the date of
acquisition.
Investments in joiDt ventures
Investments in jointly controlled entities ac¢oun¢ed for in accordance with the cosr model are Txorded ai
COA less any a¢cumula*d impainnent Ios5¢S.
Investmerlts in jointly controlled entities accoun1￿ foT in accordance with the fair value model are inicially
recorded ai the transaction price. Ai e2ch reporting dale. the investtnents are measured ai fair value, with
changes io fair value taken through income or expendiwre. Wlere li is irnpraciicable io rne4surc fair valu¢
reliably without undue cost or effort. the model will be &Jop*d.
Divid¢nds and other distribution5 received from the investment are recoEnised as incorne without regard to
whether the distributions are from accumulaied wofits of the joini venwre arising before or afier the dare
of acquisition.
Impalrment of fiyed assets
A review for indicators of impairnjent is carried out at each rq￿ing date, with the recovcrdble amount
being c5tirnated where such indicatots exisi. Where the caTrying value exceeds the recovernble amouni, the
assei is impaired aixordingly. Prior impaiTm¢nts are also revi¢wrAI for ￿1b1¢ reversal at each rew)rting
dal¢.
For the pu￿ of Impalm￿nI iesiing. when li is noi possible to esiirnate the recoverable amount of an
individual assel an es¢iniaie is made of the recoverable amount of the cash-generating unil to which the
ass¢t belongs. The cash-generdting unit is the smallest identifthble group of &8gets thai includes the asset
and generdies Cash inflow5 that largely indewthi of the cash inflows from other assets or groups of
For impairnieni tesiing of goodwill, the goodwill acquirtd in a business combinaiion i& from the
acquisition dale. allocat￿ to each of the cash-generating uni¢S thai are expected to benefii from the
synergies of the combinaiioo irrespective of whether other assets or liabilities of the charity ar¢ assigned
10 those units.
14-

Palan Foundation
Company Llmited by Guarantee
Note5 to the FinaDeial Statements
Year ended 31 January 2020
Accownling polleies
FlttAnelal Itsstrllmentg
The Company has elected to apply the provision% of Section I l Basic Financial Instruments, and S￿li0n
12 '0ther Financial Instrurnents Issues, of FRS 102 10 all of its financial instrnments.
Financial Instruments are recognised in the compan￿5 balance sh¢et when the company becomes party to
the contractual provisions of the instswment.
Financial as5e¢s and liabtlities are offset. with the net amounts presenied in the financial statements, when
there is ? legally enforceable right to set off the recognised amounts and there is an intcntion to settle on a
net basis or io realise the asset and settte the liability simultaneously.
Basic financial assets which include debtOE5 and cash and baTth balances, are initially measured ¥t
transaction price including transaction costs and are subs¢qu¢nily ¢￿ried at amortised cost using the
effective inieresi meth(yJ unless the arrangemeni constitutes a fmancill8 transaciion, where the ￿nsactIon
is measured a¢ the presenr value of th¢ future receipts discoun*d ai a markei rate of in*rest. Financial
ass¢ls classified as receivable within one year are not amortised.
Firt8nci&I liabililies and equity instruments ar¢ ¢iwifi¢d aw)rding tts the substance of the contrncNal
arrangements eniered inio. An equity instrnrnent is any contract that evidences a residual interest in the
ass¢ts of th¢ company after deducting all of its liabilities.
Basic financial liabililies. including crediioT8 bank loans. loans from fellow group companies and
prefer¢n¢¢ shares that are classified as debt. are initially recognised ai ¢ransa¢iion pri¢¢ unless the
arrangement constitutes a financing transaciion. where the d¢bi instrument is M￿sUred at the present value
of the futttre payments dis¢ounied ai a market rate of interest. Financial lthfftlities cla&sified as payable
within one year are not ami)rtis¢d.
Debt instruments are subsequently carried ai amonised cosL using the effective interest r8te method.
Trade crediiors are obligations io pay for goods or seTYices thai have been acquiT&J in the ordinary cours¢
of business from supplteT5. Arnounts payable are cla&sified as current liabiliries if payment 15 due within
one year or less. If TJOt, thty are presented as noD-¢urrent liabilitie5. Trade creditors are recogntsed initially
at trdnsaction price and subsequently measured at arnorti5ed cost Using the cffectivc interest method.
Equity insmirnents issued by the company are recorded at the proceeds re£eived, net of direct issue costs.
Dividends payable on equity Insts￿ments are Tecogoised as liabilities once they ar¢ no longer at the
discrehon of the company.
Defined ¢o•tributi•D pla
Contributions to defined Corttribution plans are recognised as an expense in th¢ p¢riiKI in which the related
seivice is provided. Prepaid contributions are recognised ¥s an a55et io the extent that the prepayment will
lead to a reduction in fijnwe payments OT a cash refund.
15-

Palan Foundation
Company Limited by Guarantee
Notes to the Finaneial Statements Cc•w*Nwf4J
Year ended 31 Janu*ry 2020
Attounting polieles
Defined £ODtrib¥tion plan5
When ¢ontributions are not expected to be seiiled wholly within 12 months of the end of the reporting date
in whi¢h the employees render the related service. the liabiliry is measured on a discounied present value
basis. The unwinding of the discount is re¢ognis¢d as an ¢XF¢nse in the period in whiclt it arises.
Llmlted by guar•nt¢e
The charity is company limited by guardntee and has no shaTe ¢apital. The liability of cach mernber in the
¢v¢nt of wiDditig up is limiied to £1.
Don*tloMs and lega¢ie5
Unrestyi¢ied
Funds
Restrictcd Total Funds
Funds
2020
DoD•ti0•S
Donation from Golden T￿rS Limiied
Donation
Grants
Grdnts receivable from DCLG
Unrestyicied
Funds
Re5trict¢d Total Funds
Funds
2019
DoDatioms
DonatlOD frotn Golden Tours LiMi￿j
Donation
3.(I)O,o(K)
3.000.01
GraDts
Grdnts receivable from DCLG
47,500
47,51KJ
3.(A)O,l(Kl
47.500
3,047.61K)
Investment income
UnTestricted Tothl Funds Unresty>¢*d Totsl Funds
Funds
2020
Fun(b
2019
Bank interest rKeivab
Other inleresl ￿￿e1V3b1¢
15,413
44,743
15,413
44,743
4,603
27.204
31,807
4.603
27,204
60,156
611.156
31.807
16-

Palan Foundation
Compainy Limited by Gugranttt
Notes to the Financial StslemeDts
Y￿r ended 31 January 2020
Expenditure on ch*rit*ble •¢tivAties by fuDd type
Unrestricto
Funds
Restricted Total Fwnds
Funds
2020
Education
Int¢rfaith
Heritage
Others
Supwi costs
50.675
160.238
50.675
160338
913
119.CrfX)
913
119,000
330.826
330,826
Unrestrict&J
Fun¢1
Restricted Totsl Funds
Funds
2019
EducatLI)ll
In￿rfaIth
Heritrge
Others
1.138.985
109.758
10270
1.138.985
109,758
69,484
59214
93.945
93,945
1.352.958
59.214
,412.172
Expenditure on ch*ritxble •ctivitie5 by aetivity type
Aciivilies
undertaken Grani funding
directly
of activities Suppon costs
Totsl funds
20211
Total fund
2019
Edu¢ation
Interfaith
Heritsge
Others
50,675
92.175
28.462
90.438
79,160
2511,753
,220,157
117.580
74,435
68.063
913
913
68.976
142.850
118,900
3311.826
1,412.172
Analysis of support ￿15
Education
Interfaith
Total 2020
Totsl 2019
Stsff costs
Premises
General office
Finance
Governance cosLS
Printing Postage and Ststionery
Travel
Consultancy
Repair and maintenance
Adverlising
57.446
8.342
12.808
162
55
I.IY)7
618
793
11.678
678
768
40,51XI
511
172
3.193
1,953
2.506
36,928
2,142
2,428
53J08
673
227
4200
2￿71
3299
48.006
2,820
3,196
101
8.400
260
7,947
11,249
28,567
90,333
118,900
93,945
J7-

Palan FoundatioD
CompAny Limited by Guarantee
Notes to Ihe Financial Statements (c•wi*wc4J
Year ended 31 January 2020
10. An•lysis of yants
2020
2019
Grants to instit￿110￿5
Grants io institutions.- Education
Grants to institutLOrts: lrtterfaith
8,630
92,175
100.805
1.093,889
61,460
,155,349
Grants to individu•ls
Grants to indivi(knls.. Education
42,045
45.096
42,045
142,850
45,096
Totsl grants
,200.445
11. Independent ex*miD*tioD ftts
2(120
2019
Ftts payable io the independeni exarniner for.
Independent examination of the fitt#ncial giaiements
IL St*ff costs
The total stsff costs and ernployee benefits for the reporting period are analyscd as follows..
2020
2019
Wage5 and salaries
Social security Costs
Employer contributions to pension plaTrs
54.524
2,696
226
57.446
The average head count of employees during the year was Nil12019.. 1). Th¢ averag¢ nutDb¢r of full-time
equlvalent employees during the year is analysed as follow5..
202D
No.
2019
No.
Number of stsff
No employ¢e re¢eived employee benefits of more than £60,(KK) during the y¢ar (2019: Nil).
18-

Palan Foundation
Company Limited by Guarantee
Notes to the Financial St4tem¢nts Ci¥*tsiiu¢•J
Year ended 31 January 2020
13. Trustet remumeration and ¢xpeDses
The key management pelsonnel of the chan.ty are the In￿tee&
One or more trust￿$ has been paid remuneration or received other beneflts from employment with the
charity or a related eniity. Milli Pari was appointed as athninistration manager under article 7 sub¢laus¢
3(fj and 3lg) of anicle of as￿l￿tiOn. Totsl Ternunerntion of £nil (£2019.. £53J59.76) was paid to her.
During the year tolal trdvel expeTh￿ of £17.948.33 (2019.. £7,947.29) w¢r¢ reimbursed to truste￿ Mr. N
Palan and Mrs K Palan.
14. T*xatl•n
The charitable company is exempt from cthp)ration thx a5 all its inwm¢ is charitable and is applied ftir
charitable purposts.
15. Investments
Other
iTrve51ment$
Cost or valuatitin
Al l Febnwy 2019
Additions
At 31 January 2020
ImpAlrment
At l February 2019 and 31 J*ttu*ry 2020
Carrylng arnount
At 31 January 1020
Ai31 January2019
All investsnents shown above are hekl at valuation.
16. Inveslm¢nt e￿￿tIeS
s￿b$Id1*rks and other investments
P¢r¢¢ni#g¢ of
shares held
Clss of share
Otber sigrtifrtant holdlngs
VP Property Investment Limited
Ordinary shares
50
VP Property Investyeni Limiied incoryorated in Engla￿j and Wales and its regisiered office address is
156 Cromwell road. tA}nth￿ SW7 4EF. Palan Ftmindaiion own5 1 ordinary shaTes with nominal value of
50p.
19-

Palan Foundation
Company Limited by GMaraDt¢e
Iyotes to the Financial St2tements fe•rttiAts¢d)
Year ended 31 January 2020
17. Debtors
21120
2019
Arnounts owed by undertakings in which th¢ charity h&$ a participating
interest
Prepayments and accrued income
Other d¢btor5
1.571,947
19925
17AIMI
1.527.204
5,037
10.552
1,609J72
1,542,793
The debtors aiKTrve include the followmg amounrs falling due afi¢r mor¢ than on¢ year..
2020
2019
Amounts ow¢d by undertakings in which the charity has a pani¢ip31ing
int¢r¢st
1,571947
1.527.204
18. Creditors: amownts falling du¢ Ivithin one ye*r
2020
2019
Accrnals
Oth¢r creditOf5
19524
40,059
13,742
5.923
59J83
19,665
19. Pettslons and other pos¢-re¢irement b¢n¢fJts
Dtfjned ¢OD¢ributioD plan5
The amount recognised in income or e￿￿dIlure as an expense in relation to defined ￿ntribUll0n plarLS
was £Nil (2019- £226).
20. Analysis of eh#ritable fvthds
Unrestri¢ted funds
Ai
l Febnwy 20
19
At
31 Janw#ry 2(1
20
Income Expendilure
General fvnds
2.968,721
60.156
(330,726)
2.698,151
Al
l Febnwy 20
18
At
31 January 20
19
IJKome
Expenditiire
General fund5
1.289,772
3.031,907
{1,352,958)
2,968,721
-20-

Palan Foundation
Company Limited by Guarantse
Notes to the Financial Statements
Year ended 31 January 2020
21. Analysi$ •f *ssets between fuDd5
Uwestrictsd TO￿ Funds
Funds
2020
IDv¢slments
Current assets
Creditors less than l year
Net assets
2.757,733
(59,583)
2,757,733
(59.683)
2.698,OSI
2,698,151
Unrestricted Total Funds
Furtds
2019
Investsnents
Curreni assets
Creditor5 less than l year
2.988,385
(19.665)
2,988J85
{19,665)
Net assets
2.968,721
2.968,721
22. Analysi5 of ch*nges In net debt
At
31 Jan 20ZO
At l Feb 2019 Cash flows
Cosh at bank and in hand
1,445.592
1297.231)
1,148J61
23. Related p#rtSes
During the year the charity eniered iDio th¢ folknving Iran5actions with related parties..
Tran$attion v*lue
Balance owed byl{owed to)
2020
2019
2020
2019
Golden Tours Limited
VP Property InY¢stsn¢nt Limited
37.651
44.743
46.041
1.527204
40,059
1,571.947
5.829
1,527,204
21

P21an Foundation
Company Limited by Guarantee
Notes to the Financial Statements {¢•#thw*4)
Year ended 31 January 2020
23. Rel*te41 p*rties
Palan Foundation paid £37,651 (2019.. £46,041) io Golden Touys Limiied during the year ftir purchase of
various educational tOUTS. inforniation techtwlogy support and rent fot ￿¢￿pYing premises. This
transaction was on nom)al commercial lern￿. Included in other ¢r¢diwrs is the amount due io Golden
Tours Limited of £40,059 {2019.. £5,829) at the balan¢¢ sheet date.
Donations received during the year from Gol¢Jen Tours Lirniied is £ Nil {2019.. £3.000.OLK)). Mr. N. Palan
and Mr. M Palan. tsijsiees of the clwity, aTe also a diff¢ior of Golden Tours Limited.
Includd in other creditor is balance of £1.571947 (2019.. £1.527204) due from VP Property lrtvestsnent
Limited (VPIL). Palan Foundation owns 50% of capiwl of VPIL. Two of th¢ trus￿$ owns
remaining 50U/o of share capitsl of VPIL. Inierest is charged at 2.5Yfy alx)ve base rdte. A fixed repa￿ent of
Capital of £20,(M)O will commence quarterly from 3 1st December 2020 until 30th June 2028. The balance
of the l(Tran will be repaid in full on 31st July 2028.
Included in other debtors is r¢ni dew)sit of £17.5(￿ {2019: £ Nil) paid to VP Property Investsnent Limited.
Palan Foundation paid rent of £35.(KJO (2019.. Nil) to VP Prom Investment Limited for 0￿uPying
premises ai Murray House. The sparx occupied sol¢ly for the PUTW5e of advancÈng charithble goals
and obj¢ctivo.
22-