**REGISTERED CHARITY NUMBER: 1158736**
**REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR**
**THE LOTUS CHARITABLE FOUNDATION**
Arithma LLP Chartered Certified Accountants 5 Jardine House Harrovian Business Village Bessborough Road Harrow Middlesex HA1 3EX
**THE LOTUS CHARITABLE FOUNDATION**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
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Page
Report of the Trustees 1
Independent Examiner's Report 2
Statement of Financial Activities 3
Balance Sheet 4
Notes to the Financial Statements 5 to 8
Detailed Statement of Financial Activities 9
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## **THE LOTUS CHARITABLE FOUNDATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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).
During the year, we distributed £110,024 to various charitable bodies in the UK and India.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1158736
## **Principal address**
55a Welbeck Street London W1G 9XQ
## **Trustees**
R R Shah MSc FRICS S D Shah R Shah
## **Independent Examiner**
Arithma LLP Chartered Certified Accountants 5 Jardine House Harrovian Business Village Bessborough Road Harrow Middlesex HA1 3EX
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.................................................................... R R Shah MSc FRICS - Trustee
Page 1
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LOTUS CHARITABLE FOUNDATION**
## **Independent examiner's report to the trustees of The Lotus Charitable Foundation**
I report to the charity trustees on my examination of the accounts of The Lotus Charitable Foundation (the Trust) for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Hiten Shah FCCA
Arithma LLP Chartered Certified Accountants 5 Jardine House Harrovian Business Village Bessborough Road Harrow Middlesex HA1 3EX
Date: .............................................
Page 2
## **THE LOTUS CHARITABLE FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024**
|2024
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Investment income
2
4,288
**EXPENDITURE ON**
**Charitable activities**
Donations made
115,655
Other
798
**Total**
116,453
**NET INCOME/(EXPENDITURE)**
(112,165)
**RECONCILIATION OF FUNDS**
Total funds brought forward
345,147
**TOTAL FUNDS CARRIED FORWARD**
232,982|2023
Total
funds
£
2,218
110,024
831
110,855
(108,637)
453,784
345,147|
|---|---|
The notes form part of these financial statements
Page 3
## **THE LOTUS CHARITABLE FOUNDATION**
## **BALANCE SHEET 31 DECEMBER 2024**
|2024
Unrestricted
fund
Notes
£
**CURRENT ASSETS**
Cash at bank
233,582
**CREDITORS**
Amounts falling due within one year
4
(600)
**NET CURRENT ASSETS**
232,982
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
232,982
**NET ASSETS**
232,982
**FUNDS**
5
Unrestricted funds
232,982
**TOTAL FUNDS**
232,982|2023
Total
funds
£
350,747
(5,600)
345,147
345,147
345,147
345,147
345,147|
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. R R Shah MSc FRICS - Trustee
The notes form part of these financial statements
Page 4
**THE LOTUS CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1. ACCOUNTING POLICIES**
## **BASIS OF PREPARING THE FINANCIAL STATEMENTS**
The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **INCOME**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds where it is probable that the income will be received and the amount can be measured reliably.
## **EXPENDITURE**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **TAXATION**
The charity is exempt from tax on its charitable activities.
## **FUND ACCOUNTING**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2. INVESTMENT INCOME**
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||||
|---|---|---|
|2024|2023|
|£|£|
|Deposit account interest|4,288|2,218|
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continued...
**THE LOTUS CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
## **TRUSTEES' EXPENSES**
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
## **4.**
## **CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other creditors
**5.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.1.24
£
345,147
345,147
Incoming
resources
£
4,288
4,288
At 1.1.23
£
453,784
453,784|2024
2023
£
£
600
5,600
Net
movement
At
in funds
31.12.24
£
£
(112,165)
232,982
(112,165)
232,982
Resources
Movement
expended
in funds
£
£
(116,453)
(112,165)
(116,453)
(112,165)
Net
movement
At
in funds
31.12.23
£
£
(108,637)
345,147
(108,637)
345,147|
|---|---|---|
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continued...
## **THE LOTUS CHARITABLE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **5. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|Incoming
resources
£
**Unrestricted funds**
General fund
2,218|Resources
expended
£
(110,855)|Movement
in funds
£
(108,637)|
|---|---|---|
|**TOTAL FUNDS**
2,218|(110,855)|(108,637)|
|A current year 12 months and prior year 12 months combined position is as
At 1.1.23
£
**Unrestricted funds**
General fund
453,784|follows:
Net
movement
in funds
£
(220,802)|At
31.12.24
£
232,982|
|**TOTAL FUNDS**
453,784|(220,802)|232,982|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
6,506
6,506|Resources
Movement
expended
in funds
£
£
(227,308)
(220,802)
(227,308)
(220,802)|
|---|---|---|
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continued...
**THE LOTUS CHARITABLE FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **6. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2024.
Page 8
## **THE LOTUS CHARITABLE FOUNDATION**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024**
|**INCOME AND ENDOWMENTS**
**Investment income**
Deposit account interest
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Donations made
**Support costs**
**Finance**
Bank charges
**Other**
IT costs
**Governance costs**
Accountancy fees
Total resources expended
**Net expenditure**|2024
£
4,288
4,288
115,655
48
150
600
116,453
(112,165)|2023
£
2,218
2,218
110,024
81
150
600
110,855
(108,637)|
|---|---|---|
This page does not form part of the statutory financial statements
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