REGISTERED CHARITY NUM8ER: 1158736 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEIVIENTS FOR THE YEAR ENDED 310ECEMBER 2023 FOR THE LOTUS CHARITABLE FOUNDATION Arilhma LLP Ghartered Certsfied Accountsnls 5 Jardine House Harrovian Business Village Bessborough Road Harfow Middlesex HA13EX
THE LOTUS CHARITABLE FOUNDATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Page Report of the Trustees Independgnt Examln8r's Report statnent of Financial Actlvltles Balance Sheet Notes to the Finan¢ial Statèments Detalled Statom&nt of Flnanclal A¢tivitie$
THE LOTUS CHARITABLE FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their report wSlh the financial statements of th8 ¢h8rity for lh8 y8ar ended 31 December 2023. The trustees have adopted Éhe wovisions of Accounting and Reporting by Charities.. Staternenl of Recommended Practictr 8pptlc8ble lo charities preparlng their accounts In accordance with Ihe Finanrial R¢porting Standard applicab18 in the UK and RepubFic of Ireland IFRS 1021 leffecilve 1 January 2019}. During Ihe year. wg distributed 2110.024 lo variou3 charitsble bodles in the UK and Indla. STRUCTURE. GOVERNANCE AND MANAGEMENT Governlng document Yhe charity Is contrdled by its governlng documenL 8 d86d of trusl. REFERENCE AND ADMINISTRATIVE DgrAILS Reglstered Charlty number 1158736 Prln¢ipal addr6ss 55a Welbeck Street London W1GgXQ Trustèes R Rshah MSC FRICS SDSh8h R Shah Independent Examiner ArSthma LLP ChartereTJ Certifi8d Accounlanls 5 Jardinè House Harrovian Business Village Bessborough Road Harlow Middlesex HA13EX Approved by order olthe board of trusl$es on 17 Soplember 2024 an(1 signed on its bèhalf by: R R Shah Mse FRICS- Trustee Pago 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LOTUS CHARITABLE FOUNDATION Independent examinerfs report to th& truslees of The Lotus Charlt•ble Foundatlon I report to the ¢h8rity trustees on my examination of tho a¢¢ounts ol The Lol*Js Charitable Foundalion {Ihe Trust} for the year ended 31 December 2023. Responsibilities and basls of report As the charity Iwstees of the Trust you are responslble for the preparation of the accounts in accoTdan¢e wth the r¢quirements of the Charities Act 2011 {'Iha Act'l. I report in respect of my examination of Ihe Trust's accounts carried out under Section 145 of the Act and in carrwng out my examination I have,followed all applicable Directions given by the Charity Commission under Section 145{5llbl of the A¢t. Indgpèndent &xamlnerfs statement I have completed my examinalion. I confirm that no material matters have come to my attention in conneciion with the examination giving me cause lo believe that in any malerfal respect: accounting records were not kept in respect of Ihe Trvst as raquirèd by Section 130 of the Act.. or the accounts do not accord with those records.. or the accounts do nDI cc>mply with the applicable requiremants concerning the form and content of accounts sel out in the Charities (Acwunls 8nd Reports) Regulations 2008 other than any r8qulram6nt that the accounts give a trLJ& and fair view which is not a mattèr considered as part of an independent examination. I have no concerns and have come across no other matters in conntrctlon with Ihg examination lo which attention should be drawn in this report in order to enable 3 proper understanding of the accounts lo be reachèd. Hiten Shah FCCA Arithma LLP Ghartered Certified Accountants 5 Jardine House Harrovian Business Village Bessborough Road Harrow Mlddlesex HA13EX 17 September 2024 Page 2
THE LOTUS CHARITABLE FOUNDATION STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Unreslrided fund 2022 Tol81 funds Notes INCOME AND ENDOWMENTS FROM Inveslmgnl income 2.218 2.121 EXPENDITURE ON Charitable a¢tivltl8s Donations made Governance costs 110.024 97.500 600 Other 831 506 Total 110,855 98.606 NET INCOMEIIEXPENDITURE) 1108.83n 196.4851 RECONCILIATION OF FUNDS Total funds brought forward 453,784 550,269 TOTAL FUNDS CARRIED FORWARD 345,147 453,784 Th8 nDtes form part of these fin8n¢ial ststements Page 3
THE LOTUS CHARITABLE FOUNDATION BALANCE SHEET 31 DECEMBER 2023 2023 Unrestrlcled fund 2022 Total fttnds Notes CURRENT ASSETS Cash at bank 350.747 454,384 CREDITORS Arntsunls falllng due wifhln on& ar (5,6001 {6001 NET CURRENT AssErs 345,147 453,784 TOTAL ASSEfs LESS CURRENT LIABILrriES 345,147 453.784 NET ASSETS 345.147 453.784. FUNDS Unreslricled funds 345.147 453,784 TOTAL FUNDS 345,147 453.784 The finan£ial stat2menls were approve& by the Board of TnJst&es and aulhorised lor issue on 17 September 2024 and were 5ign8d on its b?haif by. R R Shah MSC FRICS- Trustee Th¢ t)oles form part of Ihtrse financial 8talemenly Page 4
THE LOTUS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial stalemonts of the charity, which is a public beneff£ èntity under FRS 102, have btsen prepared in accordance with the Charities SORP {FRS 1021 'Accounling and Reportlng by Charllies.. Statèment of Recommended Practice applicabl8 lo charities preparing thoir a¢¢ounts in accordance wi the Financial Reporting Standard applicable in the UK and Rèpublic Df Ireland IFRS 1021 {effectThie 1 January 20191., Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and RepublTC of Ireland, and the Charities Act 2011. The financial slalemenls have been prepared under tho hiStOral cost convention. INCOME l in¢omè is recognised in the Slalement of Financi81 Activitie5 once the charity has entitlement to the funds ere il is prob8ble that the incomè will be received and the amount can be measured reli¥t)ly. EXPENDITURE Liabi11ties are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity lo thal èxpenditure, il is probable that a transfer of economic benefits will be requir in settlement and the amount of thè obligation can be méasured reliably. Expandllure Is accounted for on an accruals basis artd has been classiffed under headings that aggregate all cost related lo thg category. Where ¢osts cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent wlth th& use of resource5. TAXATION The charity is exempt from tsx on ils charitable activities. FUND ACCOUNTING Unrestricted funds can be used In accordance With the charitable objectives al the dis¢relion of the trustees. Restricted funds can only be used for particular reslricl8d purposes within Ihe objects of the charity. Restrictlons arise when specified by the donor or when ftjnds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is Indude(l in the notes lo the financial statements. INVESTMENT INCOME 2023 2022 Deposll account interest 2,218 2.121 Page 5 continued...
THE LOTUS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS . continued FOR THE YEAR ENDED 31 DECEMBER 2023 TRUSTEES. REMUNERATION AND BENEFITS Thère were no trustees, remuneration oi othar benefits for Ihg year gnded 31 Decemb8¥ 2023 nor for the year ended 31 December 2022. TRUSTEES. EXPENSES There weré no tnjslees, expenses paid for the year ended 31 Dec8mber 2023 nor for tha year ended 31 December 2022. CREDITORS: AMOUNTS FALLING DUE INITHIN ONE YEAR 2023 2022 Other creditors 5,60fl 600 MOVEMENT IN FUNDS Net movement in funds At 31.12.23 At 1.1.23 Unrestricted funds General fund 453,784 {108.6371 345,147 TOTAL FUNDS 453,784 1108.6371 345.147 Nat movement in funds, induded in Ihe abovo are as follows- In¢oming resources Resources 6xpended Movement in funds Unrgstrlcted funds G¢neral fund 2.218 1110,855} (108,6371 TOTAL FUNDS 2,218 (110,8551 1108,637) Comparatlves for movement In fund$ Net movement in funds At 31.12.22 At1.1.22 Unrestricted funds G8neral fund 550,269 196.4851 453,784 TOTAL FUNDS 550,269 196.4851 453,784 Page 6 continued...
THE LOTUS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - contlnu8d FOR THE Y&qR ENDED 31 DECEMBER 2023 MOVEMENT IN FUNDS- contlnued CoMparave net movement in lunds, Included in the above are as follows= Incoming resourc&s Resourc8S expended Movement in fund5 Unrestri¢t&d funds General fLJnd 2.121 198,606) (96.485} TOTAL FUNDS 2.121 {98.6061 196.485) A current year 12 months and prior year 12 months combined position Ks as follows: Net movelnenl In funds At 31.12.23 A11.1.22 Unrestrlcted funds General fund 550,269 {205,1221 345.147 TOTAL FUNDS 550.269 1205.1221 345,147 A cuirent year 12 months and prior year 12 months comblned net movement in funds, included in the above are as follows.. Incomlng resources Resources expended Movemenl in funds Unrèstricted fund5 General fund 4,339 (209.4611 1205,122} TOTAL FUNDS 4,339 1209.461} (205,1221 Page 7 continued...
THE LOTUS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- contlnu8d FOR THE YEAR ENDED 31 DECEMBER 2023 RELATED PARTY DISCL05URES There W&Te no related party Iransacllons for the year ended 31 D8cember 2023. Page 8
THE LOTUS CHARITABLE FOUNDATION DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 INCOME AND ENDOWMENTS Investmpnt Income Deposit account inlefesl 2.218 2.121 Total incoming resources 2.218 2,121 EXPENDITURE Charttable a¢tlvltle$ Donations made 110,024 97,500 Support costs Finance Bank charyes 81 19 Other IT costs 150 487 Govèrnance costs Accountancy fees 600 600 Total resouTces expended 110.855 98.606 Net exptndituro 1108,6371 196,4851 Thls page dogs not form part of the statutory financial staternents Pago 9