2024-03-31-accounts

Charity number: 1158178

LODHA FOUNDATION

UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024

LUBBOCK FINE LLP Chartered Accountants Paternoster House 65 St Paul's Churchyard London EC4M 8AB

Mosmyyr Jeclhe,

Mrs. Mm anyul q Mang cl prabhal Lodhe L& JAN 7075

LODHA FOUNDATION

CONTENTS

ee

	Page
Reference and Administrative Details ofthe Charity, its Trustees and Advisers	1
Trustees’ Report	2-3
Statement of Financial Activities	4
Balance Sheet	5
NotestotheFinancialStatements	6-11

Meenycr Joclher

IY) 2-5 Gy y) we a Man S uf Pratl Mn at tod he 24 IAN on5

LODHA FOUNDATION

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

==> picture [299 x 200] intentionally omitted <==

----- Start of picture text -----
|||||| |---|---|---|---|---| |Trustees|Mangal|Prabhat|Lodha| |Shashi|Vekaria| |Manjula|Lodha| |Rohin|Shah| |Charity|registered| |number|1158178| |Principal|office|18|Portugal|Street| |London| |WC2A|2AT| |Accountants|Lubbock|Fine|LLP| |Chartered|Accountants|&|Statutory|Auditors| |Paternoster|House| |65|St|Paul's|Churchyard| |London| |EC4M|8AB|

----- End of picture text -----

24 JAN 72025

Page 1

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024

LODHA FOUNDATION

a

The Trustees present their annual report together with the financial statements of Lodha Foundation (the Charity) for the year ended 31 March 2024. The Trustees confirm that the Annual Report and the financial statements of the Charity comply with the current statutory requirements, the requirements of the Charty'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 (FRS 102) (effective 1 January 2019).

Structure, governance and management

Lodha Foundation is a Charitable Incorporated Organisation (CIO), incorporated on 8 August 2014, governed by its constitution. It registered as a Charity with the Charity Commission for England & Wales on 8 August 2014. The management of the Charity is the responsibility of the Trustees.

New Trustees are appointed by the existing Trustees. The Trustees may appoint a person who is willing to act to be a Trustee, either to fill a vacancy or as an additional Trustee. There must be at least three Charity Trustees at any time.

New Trustees are briefed on their legal obligation under Charity Law, the content of the constitution, the committee and decision making processes and the recent financial performance of the Charity.

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.

The Trustees who served during the year were:

Mangal Prabhat Lodha Shashi Vekaria Manjula Lodha Rohin Shah

Objectives and activities

The Charity's aim is to provide financial support for the following:

° to help individuals pursue their education: ° to help individuals pay their rent or buying a home; ° to support charities involved with arts, culture and urban activities: ° the relief of poverty; . to promote education of individuals; ° to support organisations which promote good citizenship; ° to advance education of the general public; and ° the relief of financial hardship of people in need.

In setting the objectives and planning the activity of the Charity, the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit.

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 on the basis that the foundation has no ongoing financial obligations. 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.

It is the intention of the Trustee's to keep the Charity in existence with minimal activity for the foreseeable future until a time comes when funding can be secured and the Charity can focus on achieving its aims and objectives again.

Page 2

a

LODHA FOUNDATION

TRUSTEES’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Financial review and achievements and performance

During the year ended 31 March 2024, the Charity received donations totaling £1,500 (2023 - £1,500) and incurred charitable activity costs totaling £1,500 (2023 - £1,500). This resulted in carried forward reserves of £251. The Charity aims to use donations received to fund charitable activities soon after receipt and therefore the level of reserves as at 31 March 2024 is in line with expectations.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Trustee

Name: Yrs : Manjula Mango p relohct Lodn« Date: 2 4 JAN 2025

Page 3

LODHA FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024

		Unrestricted	Total	Total
		funds	funds	funds
		2024	2024	2023
	Note	£	£	£
Income from:
Donations	2	1,500	1,500	1,500
Total income		1,500	1,500	1,500
Expenditure on:
Charitable activities	3	1,500	1,500	1,500
Total expenditure		1,500	1,500	1,500
Net movement in funds		-	.	-
Reconciliation of funds:
Total funds broughtforward		251	251	251
Totalfundscarriedforward		251	251	251

The notes on pages6 to 11 form part of these financial statements.

Moyr JocLhar MYS . Many Ua Mange Preah hal tod a

Page 4

LODHA FOUNDATION

BALANCE SHEET

AS AT 31 MARCH 2024

eiaig

			４ 2024		2023
	Note		£ £		£
Current assets
Debtors	4	251		251
Net current assets			251		251
Total netassets			＾ 251		251
Charity funds
Restricted funds	´ 5		-		-
Unrestricted funds	5		251		251
Totalfunds			251		251

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

We SYA Joc&®ho,

Trustee

Name: Mys. Manjula Ma ngeat Prubhet Lrodhe TheDate: 24 JANa 7025 notes on pages6 to 11 form part of these financial statements.

Page 5

LODHA FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

a

1ACCOUNTING POLICIES 4.1. 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Lodha Foundation 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.

1.2 Going concern The Charity is reliant upon donations to raise revenue to meet future expenditure. The Trustees consider that it is appropriate to prepare the financial statements on a going concern basis as it currently has no financial obligations. It is the intention of the Trustee's to keep the Charity in existence with minimal activity for the foreseeable future until a time comes when funding can be secured and the Charity can focus on achieving its aims and objectives again.

4.3 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. 1.4 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. Donations are recognised as income when received, except in circumstances where the donor specifies the time period that the donation relates to, in which case they are recognised as income in that period. On receipt, donated professional services are recognised on the basis of the value of the gift to the charity which is the amount the Charity would have been willing to pay to obtain services of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt

1.5 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. Charitable activities costs are costs incurred on the Charity's operations, including support costs and costs relating to the governance of the Charity apportioned to charitable activities.

PCoOWytr Jer Qh Page 6 oh JAN 1005 / Nyx Al Mary yrsa Mangalpra bnat Lodhe

LODHA FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024 e e ee

1. ACCOUNTING POLICIES (CONTINUED)

1.5 Expenditure (continued)

Donations payable are charged in the year when the offer is made except in those cases where the offer is conditional, such donations being recognised as expenditure when the conditions attaching are fulfilled. Donations offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT.

1.6 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.

1.7 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. Provisions are measured at the best estimate of the amounts required to settle the obligation.

1.8 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.9 Cashflow exemption

The Charity has taken advantage of the exemption from preparing a cash flow statement under Update Bulletin 1, on the basis that the Charity does not qualify as a larger charity for financial reporting purposes.

OB. Many whe Mang 21 Predohat Lodhe 24 JAN 2025

Page 7

LODHA FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024 peret cae 2: INCOME FROM DONATIONS AND LEGACIES

==> picture [466 x 490] intentionally omitted <==

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Unrestricted|Total| |funds|funds| |2024|2024| |£|£| |Donated|services|1,500|1,500| |Unrestricted|Total| |funds|funds| |2023|2023| |£|£| |Donated|services|1,500|1,500| |3:|ANALYSIS|OF|EXPENDITURE|BY|ACTIVITIES| |Support|Total| |costs|funds| |2024|2024| |£|£| |Student|scholarships|and|donations|1,500|1,500| |Support|Total| |costs|funds| |2023|2023| |£|£| |Student|scholarships|and|donations|4,500|1,500| |MaeswyA|lecQh| |Ms.|Mey \ule|Mangal: avyhat|Lod Nha|

----- End of picture text -----

Page 8

LODHA FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

eee 3. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

ANALYSIS OF SUPPORT COSTS

==> picture [468 x 269] intentionally omitted <==

----- Start of picture text -----
||||| |---|---|---|---| |Total| |Activities|funds| |2024|2024| |£|£| |Accountancy fees|1,500|1,500| |Total| |Activities|funds| |2023|2023| |£|£| |Accountancy fees|1,500|1,500| |4.|DEBTORS| |2024|2023| |£|£| |Due|within|one|year| |Other debtors|251|251|

----- End of picture text -----

Mis. A lanyw a MW«a agal prabhet Lod Ve 24 JAN! 1 2025

Page 9

LODHA FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

==> picture [181 x 23] intentionally omitted <==

----- Start of picture text -----
FOR THE YEAR ENDED 31 MARCH 2024
pe
----- End of picture text -----

5. STATEMENT OF FUNDS

Statement of funds - current year

==> picture [437 x 206] intentionally omitted <==

----- Start of picture text -----
Balance at
Balance at 1 31 March
April 2023 Income Expenditure 2024
£ £ £ £
Unrestricted funds
251 1,500 (1,500) 251
General Funds ee
Statement of funds - prior year
Balance at
Balance at 31 March
1 April 2022 Income Expenditure 2023
£ £ £ £
Unrestricted funds
General Funds 251 1,500 (1,500) 251
----- End of picture text -----

PMesyyr Jockhr

Page 10

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

LODHA FOUNDATION

==> picture [467 x 253] intentionally omitted <==

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |eee| |6.|ANALYSIS|OF|NET ASSETS|BETWEEN|FUNDS| |Analysis|of net assets|between|funds|-|current|year| |Unrestricted|Total| |funds|funds| |2024|2024| |£|£| |Current assets|251|251| |Analysis|of net assets|between|funds|-|prior year| |Unrestricted|Total| |funds|funds| |2023|2023| |£|£| |Current assets|251|251|

----- End of picture text -----

1. RELATED PARTY TRANSACTIONS

The Charity has not entered into any related party transaction during the current or prior year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2024. During the current and prior year none of the Trustees, who are also considered to be the Charity's key management personnel, received no remuneration, benefits in kind or reimbursed expenses.

8. MEMBERS' LIABILITY

If the Charitable Incorporated Organisation is wound up, its members have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities,

Meassyytt Joclhor MS. Ma NyULa Man gel Prabhat tod he,

Page 11