Charity number.. 1158178 LODHA FOUNDATION UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 rn-Q%MfvI ¥c£g LUBBOCK FINE LLP Chartered Accountants Paternoster House 65 St Paul'$ Churchyard London EC4M 8AB LODHA FOUNDATION CONTENTS Page Reference and Administrative Detsils of the Charity, its Trustees and Advisers Trustees, Report statement of Financial Activities Balance Sheet Notes to the Financial Statements 6-11 LODHA FOUNOATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 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 & Slatulory Auditors Paternoster House 65 Sl Paul's Churchyard London EC4M 8AB Page 1 LODHA FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report logether wilh the financial statements of Lodha Foundation (the Charity) for Ihe year ended 31 March 2025. The Trustees confirm that the Annual Report and the financial statements of the Charity comply with the current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP). applicable to charilies preparing Iheir 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 ils constitution. It registered as a Charity with the Chariiy Commission for England & Wales on 8 August 2014. The management of the Charity is Ihe responsibiliiy of the Trtjstees. 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 vacanoy 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 conlenl 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 Chariiy is exposed, in particular those related lo the operations and finances of the Charity, and are s81isfied that systems and prO￿dureS are in place lo mitigate our exposure to the major risks. The Trustees who served during the year were.. Mangal Prabhal Lodha Shashi Vekaria Manjula Lodha Rohin Shah Objectives and activities The Charity's aim is to provide financial support for the following.. lo help individuals pursue their education- to help individuals pay their rent or buying a home., lo support charities involved with arts, culture and urban activities; the relief of poverty., to promote education of individuals., lo support organisalions which promote good citizenship., lo 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. Golng concern Afier making appropriate enquiries, the Trustees have a reasonable expectation thal 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 Ihe foreseeable future until a time comes when funding can be secured and the Chariiy can focus on achieving its aims and objectives again. Page 2 LODHA FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Financial review and achievement5 and performance During the year ended 31 March 2025, the Charity received donations tolaling £1,500 (2024 - £1,500) and incurred charitable aclivily costs tolaling £1,500 (2024 - £1,SOO). This resulted in carried forward reserves of £251. The Charity aims lo use donations received to fund ch8rilable aclivilies soon after receipt and therefore the level of reserves as at 31 March 2025 is in line with expectations. Approved by order of the members of the board ofTrustees and signed on their behalf by.. Trustee Name. i_m l.olj HA Dale.. 01-01-Lo'i-e Page 3 LODHA FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestrlcted funds 2025 Total funds 2025 Total funds 2024 Note Income from: Donations 1,500 1,500 1,500 Total income 1,500 1.500 1,500 Expendlture on: Charitable activities 1,500 1,500 1,500 Total expenditure 1,500 1,500 1,500 Net movement in funds Reconciliation of funds: Total funds brought fomard 251 251 251 Total funds carrled forward 251 251 251 The notes on pages 6 10 11 form part of these financial statements. Page 4 LODHA FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2025 2025 2024 Note Current assets Debtors 251 251 Net current assets 251 251 Total net assets 251 251 Charlty funds Restricted funds Unreslricled funds 251 251 Total funds 251 251 The financial statemen15 were approved and aulhorised for issue by the Trustees and signed on their behalf by.. Trustee Name.. PlAhlTo L A L.oDHh. Dale.. -0 i -- 16 The notes on pages 6 10 11 form part of these financial slalements. Page 5 LODHA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES 1.1 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 1021 (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charilies 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 olhenmise stated in the relevant accounting policy. 1.2 Golng concern The Charity is reliant upon donations lo raise revenue to meet future expenditure. The Trustee5 consider thal il is appropriate to prepare the financial slalements on a going concern basis as it currently has no financial obligations. 11 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. 1.3 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 enliuemenl 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 lime period that the donation relates to. in which case they are recognised as income in that period. On receipt, donaled professional services are recognised on the basis of the value of the gift lo the charity which is the amount the Charity would have been willing to pay lo oblain 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 parly, 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 aclivily. The costs of each acliviiy 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 lo that activity. Shared cosls which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between Ihose activities on a basis consistent with the use of resources. Charitable activities costs are costs incurred on the Charity's operations, including support cosls and costs relating to the governance of the Charity apportioned to charitable activities. Page 6 LODHA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 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 donalions being recognised as expenditure when the conditions allaching are fulfilled. Donations offered subject lo 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 al the selllement amount after any trade discount offered. Prepayments are valued al the amount prepaid nel of any trade discounts due. 1.7 Liabillties and provlslons 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 il will pay to settle the debt or the amount il has received as advanced payments for the goods or Se￿iceS il must provide. Provisions are measured al the best estimate of the amounts required lo settle the obligation. 1.8 Flnancial 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 al transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured al 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. Page 7 LODHA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 INCOME FROM DONATIONS AND LEGACIES Unrestricted funds 2025 Total funds 2025 Donated services 1,500 1,500 Unrestricted funds 2024 Total funds 2024 Donated Se￿ICe8 1.500 1,500 ANALYSIS OF EXPENDITURE BY ACTIVITIES Support costs 2025 Total funds 2025 Activities 1,500 1.500 Support costs Total funds 2024 2024 Activities 1,500 1,500 Page 8 LODHA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED) ANALYSIS OF SUPPORT COSTS Total funds 2025 Activities 2025 Accountancy fees 1,500 1,500 Total funds 2024 Activities 2024 Accountancy fees 1,500 1,500 DEBTORS 2025 2024 Due within one year Other debtors 251 251 kcQ- Page 9 LODHA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 STATEMENT OF FUNDS Statement of funds - current year Balance at 31 March 2025 Balance at 1 Aprll 2024 Income Expenditure Unrestrlcted funds 251 1,500 (1,500) 251 General Funds Statement of funds - prlor year Balance at 31 March 2024 Balance at 1 April 2023 Income Expenditure Unrestricted funds General Funds 251 1,500 (1,500) 251 Page 10 LODHA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ANALYSIS OF NET ASSETS BETWEEN FUNDS Analysis of net assets between funds . current year Unrestricted funds 2025 Total funds 2025 Current assets 251 251 Analys15 of net assets between funds - prlor year Unrestrlcted funds 2024 Total funds 2024 Current assets 251 251 RELATED PARTY TRANSACTIONS The Charity has not entered into any related party transaction during ihe current or prior year. nor are there any outstanding balances owing between related parties and the Charity al 31 March 2025. 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. MEMBERS, LIABILITY If the Charitable Incorporated Organisation is wound up, its members have no liability to contribute lo its assets and no personal responsibility for settling its debts and liabilities. rrwATrvyLA Page11