Charity registration nurthr 1160782 Company registration number 07473153 {England and Wales) GNANAM FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
GNANAM FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trty¥t Aiadurai SIVaMY Premananthan (Trustee and Secretary) Alliraiah Subaskafan (Resuned on 13106120251 Dr. Ravikumar Mulhukaluvan 8•cretary Aiadurai SNasamy Premananthan Charlty number 11e0782 Company numb•r 07473153 Prlnclyl•addreB•lR•gl•t•r•d-offlc•- 3rd Floor Walbrook Building 195 Marsh Wall London E149SG Ind•p•nd•nt Audltor• Sterling Young Limited Sullé 50 238 Merton High Street mbledon. London England SW19 1AU B•nk•rn ICICI Bank UK PLC l Thomas More Square London E1W 1YN
GNANAM FOUNDATION CONTENTS Trustees. report statement of Tfuslee$' Spons.1rtIes Indepfrndenl audilorfs rnKh)rt Statement of financial 8clfvili¢$ Balanc• sheet iu Notes lo the finan¢io1 statements
GNANAM FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Tru8lees present their annual rerM)rt and financial statements for the year ended 31 December 2024. The finanaal statements have been prepared in accordan with the accounting polici8S S8t out in note 1 to the financial statements and compty with the chafily's goveming document, the Companies Act 2006 and AccounlirwJ arKI Reporting by Charities. Slalement of RecoMwnded Pracbc8 applicable lo chanlies preparing their accounts in accordance with the Financial Reporting Slandard applicabl8 in the UK and Republic of IlaThJ IFRS 102) {effective 1 January 2019). Obloctlv•s •Thd •ctlvltle• The aim$ and ¢Jbjeclives are the provisn of financial support to Gharilios in Untted Kingdom and elsewhere whith work lo improve the INes of vulnerable and mafginalized gfOUP8. The chafty 8¢hVe5 Ih68e alms by making grants lo tharilies regislered in the United Kingjom and lo inslilulions carrying out projects con$i4tenl with ils charrtable purposes in Sn Lanka. Publ1¢ Bonent The Trustees have paid due ragafd lo guidance Issued by the Charity Commisslon in de¢Kling what activities the chairty shoutd undertake. Thls was achieved by funding SLtpport provthd lo Inslltullons bolh in and OUtse the Uniled Kingdom working lo improva the livo$ of vulnerable and maiginalised gfOLIPS. Gr•Tht pollcy The Trusteey have Implemenl8d a grant making policy. The Tru$lee3 decided that their initial locus would be the Ptovislon ol gfanl funding to ¢h8nties working in United Kingdom. Sri Lanka. India. Nigeria, Tanzani8. Philippine8. Romania and Sudan to alleviate povety. Th8 ¢horily wlll not carry out proJeci8 in Its own ryhl bul r•lher, woll make gran18 lo charillès that have hyenlifkd individuals who require assistance. An apPInI charity musl provide the charity wrth evidence that its intended benefiGiaries are peopl8 in povety wilhoul the means lo otherwise iryrove their standard ol livlng. The charity will have 8 strlcl pro¢edure in place in felatson lo furKling UK chariti88 operating overseas, A potenlwl grant application will detail the history behmd the project and how il woukl benefit the people and how mtsch il would ¢osl. The charity will rrK>nilor expendiliifè lo ¢n$ure that ils lund8 ale Spent correctly, lo asséss Iho impacl of Ihe wo carld out and 6nsur8 th81 funds are u8e(l in furtherance of the charity's charilable purposes. Through ils due diligence and nnitoring procedures, the fru$tee8 will ensure Ihat ts lunding Is u88d lor 11$ charitable purposes and in compllanc with all 8pplie4ble UK lavo8 and regulations. Achl•v•m•nt Ind pwfomi•n¢• The charity made grants in the year uThJef revtew of £1.(w)6,142 88 delail8d In note 5.
GNANAM FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Flnanclal reviow The nel income for the year was £2,047 (Nel expenditure of 2023- £77.5571 The total I)rne received was £1,110,89112023- £421,500) consi81ing ofdonalions from nnec1ed parbes (see note 11). The iruease In tolal me received is athibutable to the ireaSe in requ8sts for CalKIn8 receNed from connected and third parties Isee note 31. Tolal exp6ndilure was £1,090.84412023. t499.0571. The in¢8$e fesulled from a higher level ofgranl$ made during Ihe year. Support and other costs rose by sum of£36,438 (68%) to £84.701 (see note 41. Golng Concern The chanly has pOrted a not income for the yearof£20.047 {Nel expenditure £177,557; 31 December 2023) and as al 31 Drnbel 2024. il has nel liabililE$ of £1,703 Inel liabilili8s of £21,750 , 31 Oecember 20231 The Trustees have assessed a cash wqe¢tion for al K8asl 12 ffK)nlhs from the date ol sKJred ffinanoal slatements lor year endirvj 31 Decentsr 2024 and wncluded Ihal %thilsl most Of1 chanty cL)sis are dcre0nary, tere 6 sbll a potents'al for a Cash otstftow due to possib MIra drenCES wth wrd$ lo donati¢)ns Irom Lycnobile UK LlMrt Ilargesl donor ol the charity and a rnanY whereAiadurai Sivasamy14emananlhan is the direclof who is also the Trustee of Gnanam Foundalionl. Aiadurai Siv888my Premananlhan as a Trustee has Ihefefore nfirmed a continuous financial support lo the chafity lo meet Ihe Cash requirements confirmed lormally Ihfough tter of supwrt for al least 12 months from the dale OISned financial ststemenls for year ending 31 December 2024. is lo avoid any p)Ssle scenanos of a net cash deficrt, Based on thts, Ihe Trustees have a r88sonablo expectation that the charity has adequale rèsources to continue In operational exislence for al least 12 monlhs from the dale of signed financial statements. The finan¢ial support from the ISleeS 18 not légalty binding The large616ingle donor ol the charity, Ly¢anbIle UK Limited, is currently in dispute with HMRC in relation lo a lax matter. The Trustees have formed a vW Ihal the mallef 1$ unlikely lo be resolved within Ihe next tsyo year. Due lo the significance ol the dispule. whi151 Ihe Truslee8 are nfidentthal allernalive Sources oldonalions CA)uld be airarKJed rf required thIgh sw)port from Ihe Tfustee. there are uncerlainlies presenl in Ihis regard which indicate Ihal a material uncertainty exisls Ihal may cast doubt on the chanty'8 abilty lo continue as a going COnrn. Ro•erve8 pollcy Tt Tnjsl has no set Merves policy and rel on Ihe continuing $UFPOrt ofthe TNStees and Ihw'r connections to operate gng fOard which they have ifKlicaled wll t* forthcomirKJ. 8trnctur•, governance •nd m•nag•mont The chanty Is a company limited by guaranbe artd was sel up by memoraThJum and artKbs of as80ciallc. The thanty w88 lormalty registered with the Charity CoMmissn on 9 May 2015. The Truslees who served during Ihe year and up lo the d8le ol81gnalu ofihe financial slalemenls were.. Aiadurai Sivasamy Premananthan Alliraiah Subaskaran (Reswned on 1310612025) Dr. Ravikumar Mulhukaluvan
GNANAM FOUNDATION TRU8TEE8' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2024 The ol •ppolthwrt ol new TnJ8lee8 ¥8Biod kn the 1¥In0 Tvult, h h th& pfylry ol thg ¢h•rtt•b cunp•ry lo piovhle any new TnJ8t8é8 8wrdnted ¥Alh bgthgfoiind Infomiallon rnowdbVJ Ils gff•lrn. IndlIft9 a¢¢ctI. In wdgr th41 ¢•n olA4ln 8 sufflclem le ol kn¢yAledgè to th) io perf¢Th ihdr role# •fferAlbty. Fwltrw Imlrfnp llb• provlded 88thkn18 eon61dered •PPfWthe. NM• oftha Tnmiéts ho8 •Trrf l)wldIrt4re8I Intho e¢mp•ny. All ofth& TnMi•M ol Im eompa Jftd 01nto• lo contthrt• £1 1nlhtreTrl of • n(Ing Th• O•y lo mantyemenl ol the thath Is by th• TNth••. PrnJ•d• w¢llk•ll¥ 8•gn•d lo IrthOu•l Tnl•o• forthdrfthltr• Ind mthtorfno. In •cwd•nc• wlth Ihe cornp•nY• •rtlcle•. a rn•0kbll th•1 Sl•rty YouTrJ Lld be r••ppothl•d • •udllor 01 lh8 comp•ny ¥AI pt at • G•nernl Melng. Dknclo•uv• olthfommljon to •udllDr E•ch c4 th• Tnrnt•es h&s conllmi•d thai Ilrn kn no In1¢xM•U ol fhthl¢h Ih•y •m •W•Y• T*hl¢h * r•l•¥•rt to th• •udlt. ol wP4ch Ihe auditor i• unmr8. Th•y h•v• furth•f canlkni•d th•t thffji h•w• t•ken approplat• thps lo ktértbfy 8u¢h v•lw4•nt lrftym•llon and to •It•b1h thai Ihe audMor18 ol iuch Inlonnl0n. •pprn¥od by v•b•my
GNANAM FOUNDATION STATEMENT OF TRUSTEES. RESPONSBILrriES FOR THE YEAR ENDED 31 DECEAIBER 2024 The Trusl•trs, vkno are a160 Ihg dir•dors ol Gnanam Foundatson fof the purpo of company law are r•spOnSle for pffjparing the Tiustees, Report and ihe financial slat•ntS in acryJrdanc with fflpanY law and Uniled Kingdom AcUtIng Sl#ndgrdg (Unrted Kingdom Gen&roHy Acc4pted Ac¢ounlsng Pr8dl¢el. Th• law applicable lo ¢harrt$ in England and Wah r•quw•8 Ihe Trusl•$ lo prepare finanual $t•tfrmnts lor •o¢h fmanciol year which give a Ir oTh1 law yW ol Ihe 8lale ol affai18 ol the chafty and ol Ihe incomin9 iesourcés 8n applicalion of resource8 of th• ¢h8rity for that ye8r. In pring IhoBe finana41 TAal•m•nt8. the TnJst••$ or• required to.. - gelect 8Urtgble accounllng poll¢ies 8nd Ihen appfy them o)ftglStentty'. . obGer¥e the melhods and principl•s In th• Charibès SORP,. . make judoèmenls #nd e8limoie8 Ihal re8sonoble gnd pNd8nl'. ilale whether appluble UK accounting $tOnd4¥ h¥v• been lollowéd, iubl•d lo any material dp•rtures di$do2ed and explained in IM financial $18lemenls. and pr•paf• Ihe fin•nci•l il¥teThnls on Ihe gosng conc•rn b•$i¥ unleig11 Is Inopproprijle lo PlUMe Ihjl Ihts th•rlty wdl continue In operaUon. Th• Tw$te•s are lospon for keeping suifKlenl accounllng r•cofd8 that di8clo8e wrth re•8onabl• aGcuracy al any lim the finanaol posth'¢)n of the charity and enaljle th•m to ensuie that thè finanty81 statement# eA)mpty vllh Ihe Ch•rrtie8 Ad 2011, the Chaiily IAccovnt3 and Reportsl Regulations 2008 and the prov1510M ol Ihe tw•t deed. Th•y or• al80 iespon#ibl¢ lof saf•guarding Ihe a880ts of lh• ¢harity•nd h¢n lor t4king 1•o•onabb $top8 lor the prtsv•ntn ol Iraud and olh•r iii•gularilies. Llablllty Llrnll•tlon Agr••m•nl wlth Audltor In 8¢CoanCe with Sèclion 534 01 Ihe Companies Ad 2006. Ihe MpanY haf enlered into o liobilily limit8lion gwm•nl with It8 exlemal audrtor, Slerflng Young Limlted. - Th• prlndp•l t•rm ol th• Agr••m•nt.' Th• •udilofs lbIlity lor statutory •thlil woth • hmrt•d to thfe8 bmel the •udll lè•, In iespect of any daim ¥ri$ing from or in CA)n1 wth the audit work. - O•t• ol R••o14rt1on Approvlng thfr Agrment Tho ligbilty lirnllatlon •gre¢fflent WAI 8pprov¢d by the sh4itrholdei of Ihe compartry on Augut 1 S. 2025, th •cLoJtl8ne Tlthh lh8 cwny's Anid&s of A88OC441ion and relan1 pro¥ffjton$ ol th• Coswjanies Act 2W6. The Ilmrfs 6pecified above shall be the mwximym amounts lor whi¢h th• auditor. rts trv•t&¢8, and ernpknyeeg yhall b¢ liable lo 11 pefsons party lo Ihis a9reennl, and atso lo any olhef p•wnI wilh whom the auditor has agreed th• limrtS. Bs In8y ly on the audiloi s wo Th1$ di Ihv te Sure made In ity limit41" banc• wrth S akr4em•nts. clion 534 of the Cofflp4ni#¥ Act 2006, whKh mandates di3dosure ol Al•dur•l Ti •nth• 110120
GNANAM FOUNDATION INDEPENDENT AUDITORE REPORT TO THE TRUSTEES OF GNANAM FOUNDATION Oplnlon We have audrted the financial slalemenls of Gnanam F¢)undation Ilhe'charrt¥l fof the yearended 310eeember 2024 which compnse the slalement offinan¢ial aotivilies, the balance sheet 8nd notes to the hnancial slalem8nts, including SnIfICant accounting polKie$. The finanaal reporting fram&work that ha$ been apPld in their preparation18 8pplicable law and United Kingdom Accounting Standards, induding Financial Reporting Standard 102 Th8 Financi81 Repothng Slandardapplicable in the UK and Republi of lftland Iunrted Kingdom Generalty Accepted A¢¢ounling Practir}. In ouroplnion. the finanaal statennIS give a true and fair vW of the $lale of the charity's affairs 88 at 31 December 2024 and of rts incoming r880urc8s and applicatn of resources, for the year then ended.. have béen properly prepared in accordance with United Klngdom Generalw Accepled AcCntIng Pr4ctkè', and have béen prepared in accordance with the ffjquirements of Ihe Cha(rts Act 2011. B•l• lor oplnlon We conducted our 8udll in accordanc with Inlemallongl SIAndards on Audillng IUKI IISAS IUK}l and 8pplieAble low Our responsits'lilies under Ihosg starbdaids are ILtrther described in the Authlorfs rgsponsibililies lor the audit of the KFn8nc181 st81em8nls seGtion of our ieport. We are independènt ol the tharlly In accordance wilh the ethical requiremenls Ih41 are felevanl lo our audit of the financial s14lemgnts In the UK, including the FRC'S Elhic81 Standard, and we have fulfilled our other ethical responsibilrtie5 in accordance with these reoulremenls. believe Ihal the audrt evidence we have obtained N suffidenl 8nd gppropriale lo provhde a ba818 for our opinlon. Matsrll uncert•lnty r•lat•d to golDg concem Wo draw attention to note 1.2 In Ihe finoncwl ¥tatements which indicates that the charity is dependent on financial 8UPPOrt from the Truslee lo meet the cash requlremenls lor al least 12 month8 from the d818 ol signed finanti81 $lalemenls for year ending 31 December 2024. Tl financlal Support from the Truste8 Is not l¢gally binding. The Igrgesl 8ingle donor ol the charity, Lycamobilg UK Limrted, is currenlly in dispute wilh HMRC in relation lo a lax matter.. In this eonlexl, whil81 tho Truslees are confident Ih8t 8llernallvé sour¢es of donations could be aNanged as r8quir8d through support from the Trustee, there ar6 unrrtainlie8 Pfesenl in this regard. As slaled in nol¢ 12, these evenls or Conditions indicÉl6 that a material uncertainly exi818 Ih#l may cost swnificorit doubt on the chan$ ability lo ntInUe as a going concern. Our opinion 1$ not Modifi in respecl of this malter. In auditing the financi81 slal8menls, we have cpn¢luded that the directors, u80 olihe going con¢ern ba$1$ of accounting in the preparalion of the financwl stalem8nls is appropriate. Our responsibilitie¥ ¥nd the responsibilities of Ihe trustees with re$pe(* lo going ¢oncefn are described In the relevant Se¢ln$ of this report. Other Inforn)•tlon The other Informalion wmpri8es the infomation included in the annual report other than the fingncial st8t8m&nts and OLtr auditovs report Ihereon. The Trustees are responsible for the olhei information ¢onlained wrthin the annu81 report. Our opinion ¢ the financial slalemenls does not cover the other informolron and we do nol express any form ol assurance conclusim theon. Our iesponsibilily Is lo read the other informaln and, in doing so. nSIder whether the other inform81ion is materially kncon$i$tenl wrth Ihe financial 81atem&nts or our knowledge obtained in the course of the audil, or olhemise appears lo be materially migslated. If we hdentify such material inconsistencies or 8pparent material misslalemenls. we are required lo determine whether this gives rise lo a malef1 missL8lement in the financial statements themselves. If. based on the work we have pefftImd. wé ex>ndude Ihatthore is a material mtsstalement of Ihis other infoimalion, we a required lo report that fact. We have nothing to report in this fegard.
GNANAM FOUNDATION INDEPENDENT AUDITOR'S REPORT {CONTINUED> TO THE TRUSTEES OF GNANAM FOUNDATION Matters on whlch are requlred to report by exceptlon In the light of the knowledge and understanding of the charity and ils environnwnt obtained in the course ol the audit, we have not Klentird material misstatements in the tfUStees' report. We have nothing to report in respect of the folhjwing matters in relation to which the Chariti'8$ (AcGounts arKI Reports) Regulations 2008 require Ils lo report to you if, in our Opini.. the information gwen in the financial slalemenls 1$ inconsistent in any material respect with the Tru8te¢s' report, Of suffKienl accounting records have not been kepl,. or the financ1 8lalements are not in agreement with the acnts.n9 record$. or we have not rerkived 011 Ihe information and explanations we require lor our audrt. RponsIbIlItIeS of TruBtee8 As explained moo fully in the statement of Trustees, re$pon$tiililies. the Trustees r88ponsible for the preparation ol the linancial slalemenls and for being salisfd that they gwe a true and lair view, and foi such internal control as the Trustees delemine is nècèssary lo enable the prep8ratn of financol slalements that are free from material mi88tslem&nl, whether due to fraud or error. In Pf8paflng the financial slalemenls, the Trustees are responsible for 85s8s3ing the ch8nty'8 ability to continue as a going concern, disck)8ing. as applieable, matters related lo going concrn and using the going eontsrn basis of accounth'ng unless ltte Trustees ether intend to cease olatiOns. or have no real1st altsrnaliv¢ bul lo do 80. Audlto¢• rMpon•lbllltlM for th• oudlt of th• Ilnanclal statements We have been appolnled 09 auditor under Sect 144 01 the Charllb$ Act 2011 and report In accordanrA wlth the Aet nd relevant regulatn$ made or having effect Ihereunder. Our objectives are lo obtain r•ason4blg 88sufanc4 about whether the financial slalemgnt8 as a whole are frée from material mlgslalem&nl, whether due lo fr8ud or error, and to i$¥ue gn audilorfs report lttal Includ8s our oplnion. Reasonable assurance is a high level of assur8n¢è bul is not 4 guarantee that an audit corKluded in accordance wilh ISAS IUKI will aayS delect a material misslalemenl when rt exists. Misslalemenls can arise from fiaud or erfor and ar8 ¢on$idgred malerial if, Indiv81 or in thè aggregalo, they could reasonabty be expected lo influence tho economic decrnlons ol u8ers taken on thè basis of these financial slalemenls. The Oxienl to whkh our pfocedtsres are capabl$ ol detectlng irregulanti88. includlng fraud, is detailed below. Extent to whlch tho audlt wa• con•ldered c•pablfr of dotsctlng Irr•gularltle•. Includlng fraud Our audit procdur¢s were prlmaflly directed towards lèsling accounting systems in operallon up)n which we have based our a8$sment of the finan¢lal $t•tennt8 for the year ended 310¢mbor 2024. We planned our audit so that we have a reasonable expectation of detecting material mi$$ial•menls in the finan¢lal slalernenis resultin9 from Irregularit5, Iraud or non-compliance wrth law or regulalions.
GNANAM FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GNANAM FOUNDATION In identifying and assessirwJ risks of material misslalement in respect of irregularities. including fraud and non- coryliance with laws and fegulalions. our procedure8 irKIled the following: The engagemenl partner ensured that the engaggmenl team collectively had the appfopriale competence, capabilils and 8kill8 to wjenlfy or recognvie non-compliance wrth applicab laws and regulations. Enquiring ol management of whether they are aware of any non-compliance with laws and regulati¢3. Enquiring ol management whether they have knowledg8 of any aciual. suspected or allw Iraud. Enquiring of Managent Ihelr Internal controls 8stsbll8hod lo mth'gate risk related to fraud or non- corrf)liance wrth laws and regulations. Discu$sion$ amongst the engagement team on how and wheR fraud might occur in the financial statements and any potenkn'al Indi10$ offraud, as part of ourdiscussion. we entled potential for fraud in the following area$', posling of unu$uo1 journal$. Obtaining understanding of the legal and regulatory framewo the charty operate8 in focusing on those laws •nd regulations that had a direct effect on the fin8ncial $tslements or that had a fundamental effect on thè operalions. The key18ws and regulations we Conser8d in this context includèd Ihe Chafities Acl. Audlt r•spon•• to r18k• 4d•ntlll•d Fraud due to m4nap•m•nt OlTI• To addfess the risk of fraLKI Ihrough management bi48 and override ol controls, we.. Perfofmed 8nalyiical procedure$ lo identify any unusual or tsnexpected rèlalionshys. Audited the ftsk ol manag8m8nt OV8rrido ol controls, including testing of loumal 8ntrio$ for approprial8ness. Assessed whether judgemènls and assump110118 made in d6tQfmining the a¢counllno t$limales such as pTopertlg5 valuation ware indicative ol poienllal b$,. and Investated the ratsonale bèhind signifi¢#nl or unusual Ir8nsaction8. Irr•gul•rltleB 4nd noTr¢ompll•n¢• wlth laws and regul•tlon In response lo the rtsk of irregularilies and non GompllarKo with laws and regulations. designed procedures whith includod. bul are nol limsted lo., Agreein9 financial slaiements di8c108ures lo underlying ¥upportin9 documentstson. Revh?wing minutes ol meetings of tho88 chafged with govèrn8no. Enquiring of manageThnl as lo actual ond potential 1rt1g8ln claims. The le81 n8lure and other inherent limil8lton$ of on oudil, togelhef with the inherènt linilations of any accounting and intern81 eonlrol systsm, mean Ihal there is an unavoidable rtsk that evèn som8 maler1 mi88lalemenls in respect of irregularil¢es may femain undiscovered even though the audrt is properly planned and performed in èctordance with ISAS {UKI. Furthemiore, Ihe m8 removed Ihol laws and regulations are Irom financial Iransaclions, the less likety that we would become awafe ol non-compliance. Our exgminglion ¥houkl Iherefofe not be felled upon lo diyclo¥e all such material miss18lemenls or fraLbJs. error¥ or Inslances of non-compllance that mwht exi¥l. The responsibility lor safeguafding the assets ol the company and lor the prevention and detection of fraud, error and non-compliance wllh law or regulation5 rests wtth the IfU81ees. A further de8cription ol our r8Spon$i)ilit5 Is availgble on Financigl Reporting Coun¢if¥ website al.. hllp8.'11 www,ffc.org.uklauditorsresponsOlliik?s. Th13 daT1P110n forms part of our audil0rf8 report. Othor m•tteY• Your 8ttenlitin is drawn lo Ihe fact that the charity has prepared financial slalemenls in accordance with "Accounting and Repotts'ng by Charrties,. Slatemnl of Reeknmmended PractKe applKable lo chariiies preparlng thèir aeeounts in accord8nG8 with the Finan¢ial Reporb'ng Standard applicable in th8 UK and Repub¢ of Ireland IFRS 1021" {as amended) in preference lo the Accounting and Reporting by Charit. Statement of Recommandèd pr11¢e issued on 1 Apfil 2005 which is referred to in the extant regulations bul h8s now been wrthdrawn. This has been done in order for the financial stslemenls to provide a tw6 and fair vièw in a¢¢ordance with current Generally Accepled A¢xounling Praclice.
GNANAM FOUNDATION INDEPENDENT AUDITORS REPORT (CONTINIIED TOTHE TRUSTEES OF GNANAM FOUNDATION il•• olour Tl45 reF4yI B madè sol8ty to 1rust$. as a bc¥Jy, m accudw wth pwt 4 ollhe Ch8riM IAwints and Re8) Regula'ons 2t)08 Our drt work ha5 I underfaken Jo Ihal we mym slatè lo the chwrtyl knslees mattern we tr) Ilw in and for noo#w FwN>se To 6xnI pemrtted by law, we do not a¢¢¥ or a5swne reswnsibil'ty lo 8nyone other Ihan the charty the chanty trustees 8$ a W, lor o audil woth. for IhBroPQrt. or lof Ihe opinions we ha foffld. 8hoolkn Gtrl•humarYagnlk (FCCA, ACA, PQDM81 For•nd on b•h•llolSt•rflng Young Ltd Ch•rt•rnd Ae¢ounl•nts Su#• 60 231 IA•rton Hlgh 81rn•t Wknbl•don. London England SW19 IAiI 0*: 311101202$ Yow is elyknkn for •Kpovthwnt as 8rtOr o1th8thty ty virlu• oets dgibllty loralptrO 49 authlor ola fAry4ry wKler gectif 12 oflhe compie$Act 2Q
GNANAM FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrn¥trictgd Unrestricled funds funds Total Total 2024 2023 Income from: Don8tion$ an¢J legacies 1,110,891 421.500 Expendlture on: Chairtable activi88 (1,090,844) 1499,OS71 N•t IrKrfexpndlturn) for tho year 20,047 177.$571 R•conclllatlon of futh: Brought forward 121,7501 55,807 C•rrl•d fomard 11,7031 (21,7YJi The statement of finan¢BI acllvilies include8 41198in8 And los¥e¥ fecognised in the year. All Inttm¢ and expenditure denve from continuing actrvilies. The note8 on page8 1110 16 fomi port of these financial 8tatement3.
GNANAM FOUNDATION BALANCE SHEET AS A T31 DECEMBER 2024 Cwr•nt •M•ts C••h •t b•r and th Iw¥l Crndli•rn: •mwnl• fAlllng du•wlthln OD• y••r 10 1402711 Il•tCUff•nt IlibMlll••V••••ts 11.703) 121.7SO) N•tlknblMU••yu••ts (1,7(X3> 121.750) Fund• Unrttlrfd•d (1,703) 121.760) c4ry4ny l• •rtW lo th• •nmpUon from lh• conWn•d In 477 01 fv Comp•nl•• Ad 2, lty th• y•w •rKl•d 31 DO(nber 2024, olihough •n •uthl h•• IM•n undw M¢llon 144 of th• Ch•rflkn 2011. ThvlnieoJ KnvAdgelhelr reopon8lbluuforeUPtyIA9 requwemenh olthe Companle•Act 2006tlth M8p•a to •c¢ourtkng rncofdi andlho prepirntFon tsffflnandal liMmènt8. trin¢11 #lthleme •1 c(rnpMle8 r d In aecoftlancè lthth• prollOni pr4l&•W• to¢ampanl•¥ tIo¢t me. ft1 • w•r• •wty•d ty I •Mffly P -10.
GNANAM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng polkl•s Charlty Inform•tlon Gnanam FoLsndalion is a privale company limiled by guarantee incorporated in England and wales. The gislered Offi is Floor, Walbrook Buildin9, 195 Mafsh Wall. London E14 SSG. 1.1 Accountlng ¢onvonilon The finant4al statements havg been prepared in accordancfj wlth charity's goveming documenl. Ihe Compan8 Ad 20LK, Ihe Financial Reporfing Standard ap1¢able in the UK and Republic of Ireland" ITRS 102,1 and the Chafli88 SORP Accounting 8nd R8POrting by Charlig$.' Slalemenl ol RecommeThJed Pracllce apoi¢abl6 10 charilies preparlng their acLounls in acrdanCe with Ihe FinancAal Reporting Slandard applicable in th¢ UK and Republic ol Irel8NJ IFRS 102} (effective 1 January 20191. The charily B a Publlc een8lil Enlily as defined by FRS 102. The financial slalemenls have departed from the Chafilies (Accounts and Reports) Regulalions 2008 onty lo the exlenl required lo provide a Irue and laif view ThB (Jeparture has involved lollowing Ihe Slalemenl of Recommended Praelic£ lor charrties applying FRS 102 lather than Ihe veislon ol the Slatemenl ol RecommerKled Procllce whlch Is relerred lo in th8 Regulalions bul which ha$ Since been wllh¢Jrawn. The financial statements are prepared in sleiliThJ, which Is Ihe lunditsrml Gurrency oltho charity. Monelary amounls in these financial slalemenls awe iouThJed lo the n&a(esl £. The financial slat8m8nl8 have been prepared undef th& hl8lortC81 cost nvenI10. The prlndpal accountlng policlgs adopted are sel out below. 1.2 Golng concern The company's 8Ctivilig$. logelher wilh IhB faclors likely 10 8ffecl is future developmen1$ wlll be b88ed on Iruslee8' as$ossrnenl olt1onor compan8 fund ralslng plans and fundlng commllmenls Irom the donor compani95. Tfuslees have reasonable exp8dalion lo conllnuè the charitable act1vil5 over the future years, at l&a$l for next 12 months from Ihe dale ol approval of Ihe financlal ¥latemgnt8, Hence financlal slalemenls are prepared using Ihe going concern basls of accounbng. Th8 related donor company. Lycamobile UK Limlled will conllnue lo prowde ils fundlng requiromenl proacbvely and Ihere has been no Indicalion that fun(16 will not continu8 to be available es réqulred lor lulure ¢h8fltsble aclivilies. 1.3 Ch•rlt•bl• fund• Unie81rlcted lund8 are available lor use al Ihe discrètlon of Ihe Truslees in furthÈr8n¢¢ ol the1rcharllab objectives, +11
GNANAM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pdlcles {Continugdl 1.4 Income All Int))rr is recognized once the company has entillemenl lo the incom8. It is probable that the income will be re¢ebved and the amount of income reNab Can be rna5ured feliabty. For19gaci8s, enlillement is taken as the earlier of the date on which either.. Ihe company is aware that probate has been granted, Ihe estste has been finalized and nolificalson has been made by the executod51 lo the Trust that 8 di$lribu1n will be made. or when a di81fibution ts reeeived fr¢)m the estate. Receipt of a legacy. in whole or in part, is only cA)nsidered probable when the amount can be mfrasured reliably and the company has been notified of the exetsjlorfs intentn lo make a dtstribulion. legaues have been notifd lo thfr ¢ompany or th? company is aware of thè granting of probate, and the cnleria for income recognltlon have not been mel, ihen the legacy is treated as a conlingenl asset and disclosed if maleilal. In 4c¢ordance with the Chari118s SORP 2019 and FRS 102, the general volunteer tsme of the Friends Is not recognized in the financial statements. Donated piofe8810nal 8eNlcs and donated faali1$ are recognized on r8eA8lpl based on the value of the gift lo the company whlch is Ihe amount the company would have been wrflin9 to pay lo obtain setvKes or facilili68 of equivalent economic benefit on Ihe open mathel. • trrSPondIng arUnt is then recognized In èxpenditure ir) the p8rKd ol reL%iPI. Income tax re¢overabb in relatn lo donation8 received under Gift Aid or deed8 of venIn¢ is recognized al line of the donation. 1.5 Exp?ndlturn Expendiliife 1$ ¢09n1Zed once there 18 a legal or con81ructive obligation lo transfer economlc benefit lo third party. il is probable thal a transfer of economic ben811ts wlll b8 requiffjd in ¥elllement and the amount ol the ob1watn can be measufed ieh'abty. Expendilure is clasSifd by activily. The Costs of each gGli¥ily are made up of the total of direct costs and 3har¢d osls, including 8UPPOrt cos18 involvèd in undert8king ¢ach aGlivily Olrecl c08ts attributable lo 4 singlè 8ctivrty afe allocaled directly lo Ih8t activity. Shared costs which contribute lo more than onè aclivily and support costs whlch 4r8 not attrlbulble lo a slngle activity are appOrtned behveen thosè a¢livilies on a basis consislenl with Ihè usè ol resources. Central staff cos18 are allocaled on th& bo$i$ of lIn spent, and depreciat ch4rges alb¢8ted on tho portion of the 48s81$ use. Support CO818 are those costs incufred directty in support ol expendiluce on the obsects of the coranY and include project man8g8ment carrd oul al HeAdquArtets Governance costs are those incuNed in Gonnection with adminislralion ol Ihg company and compliance with conslilutionol and slBlulory requirement8. Charitable activitss Costs are 81$ InGurred on the company's education81 operation$. in¢Juding ¥upport costs and costs relallng to the govefnanc¥ Oft ccrfnpany apportioned lo Charitab a¢tNrti¢$. Grants payable are thafged in the year when the offer is made excepl in those ca588 where the offer is condrtion81, s¥Jch grants bèing lenIzed as expenditure when the condllions attaching are fulfilled. Grants offered sUbCt to coTrJilnS which have not bean mel at the year-end are noted as a commitment, but not accrued as expenditure. 1.0 Cash and ca8h equlvalents Cash and cash eqtsivalents include cash in hand, deposrts hekj al call wilh bank$, other short-term IK4uid investments wrth original maturiti'es of three monlhs or less. and bank overdrafts. Bank overdfafts are sh¢)wn within b¢)rrowing$ in current I'abililkrys. 12-
GNANAM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollclo5 (Contlnued 1.7 Flnartlal Instruments The charity h#5 elected lo apply the provisions of Section 11 '8a$i¢ FinanGial Instruments, and SeCtn 12 '0ther FinaneJ31 Instruments Issu85' of FRS 102 to all of its finanual instruThpnl5. Financial instruments ale fecognned in the chariv? balance sheet when the charlty becomès paty lo the conlr8ctual piovisions of Ihe inslrumenl. Financial assfrts and liabilrties are offset, wllh the nel am¢)unts presenled in the financial slalements. when there is a legally enforceable right lo set off the recognised amounts and there is an intention to $etUe on a net bas of lo realise the asset and sell1¢ the liabilrty simullaneousty. 8a8lc fin•n¢1 amets Basic financ1 8sse18, which Includè debtors and cash and bank balanc88, are inllialty mèasured •1 Iransacaion price including transaction costs and are 8ub8equ6nlly caffied at 8morti8ed cost using the effective inlerésl meth1 unles8 the arf8ngement conslitules a financing Iransaclion, where the transaction rn mèasured al the Pf88enl value of the fulufe reoipts discounted at a market late of inter8s1. Finan¢ial 03sel¥ classilied a8 ro¢oivablè within one yeai are not arrtd. B••lc Iln•nelal Ilablllll•s Basic fi'nancial liabililles, Induding creditors and bank loans are ini11811y recognlsed al transaction pri¢• unless the arfangemenl constllules a financing Iransaclion, where the debt inslfumenl is 8¥yred al the present value ol the lulufe payments discounted al a market rats of Inteffj$l. Financlal liobilibes cla88ified as payablè wilhln one year are not amrtlsed. Debt inslrumnls are sUbsequtIY ¢arr&?d al amortised Cost, U8ing the effective interest fale nthod. Trade cfedrtor8 are obligations lo pay lor goods Of seivic89 th81 h8ve beèn a(4uired in the ordinary cour88 of operaltons from supplters. Amounts payable are classthed a$ current Ilabililles if paymenl is due within OM year 01 less. If not, they are presented a$ non-currenl liabilils. Trade Cf6dilors are récogni$ed inilialty al tran8action piiee and ¥ubsequenlly measurnd gt amorttsed cost U8ing the eff8¢1ive interest Ithod. D•re¢ognlllon ollln•ncl•l Ilabllttl Financial liabilrtiej are dwecognised when the charliY$ ntraCtUal ob1valn$ explre or Are di8ch8rged or ¢ancelW. 1.8 T•xatlon As a regi81ered chanty the Foundalion is exempt from tsx81ion on 118 aclNrtI88 whlch fall wllhin the scopo of Section 505 of Taxes Act 1988 4nd sedlon 252 01 Ihe Taxation ol charable Gains Acl 1992. 1.9 For•lgn exGhang• Monetary assets and liabilities derbominated in foreign currencies afe translated inlo sterling at the rate of exGhange ruling al the slalemenl of financl81 po$ilion date. Transadn$ in foreign currencies afe recorded at Ihe rate ruling at the dale of the transaction. All foreign exchange dffteren¢e$ are induded to the income Statement. 1.10 Cash flow statement The Trustees have 18ken advantage of the exemption from incILing a ca8h fflow 8tatem8nt in the financi31 8talerr*nls on the basi8 that the compsny is small.
GNANAM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Crltical accoun¢lng estlmales andJudpm•nts In the applitation of thg Ghanvs accounting poliaes, the Trustees are required lo make1Jgement3. estimates nd assumptions about the carryiThJ amount of assets and IBbili18 that are not readily apparent from other sources. The estimates and associated assunwltons ofe based on hi51orical experience and olhor factors that are consered lo be leVan1. Adual results may differ from these e81imat8s. The estimates and undertying assumptions are reviewed on an ongoing basls. Revision$ to a¢¢ounts'ng eslimates are recognised in the period in whth the 881imale is revised whert the re¥n affects only that per¢od, or in the period ol the levisn and fuluie penods where the revisn afle¢ls both curront and future per•)d8. Incomè froffl don•tlons and l•gaGles Unre•trlcted lund$ 2024 Unrestrletad funds 2023 Donation$ 8nd gifts 1,110,891 421,5Cw) Expondlturn on ¢harft*bl• aGtfvtt 2024 2023 Dlract colts Gront funding oladivilie8 {8ee note 5} 1.1)J6,142 448,794 Sh•ro of lupport and governanc& co•ts Support Govemanc8 31.gy11 52,801 31,373 18,890 1.09),844 499.057 Analy418 by fund Unreslricled lund$ 1,090.844 499,057 14-
GNANAM FOUNDATION NOTES TO THE FINANCIAL STATEmErs (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 Grants payabl8 Total 2024 Total 2023 Brlllsh Red Cross sOctY Gnanam Foundalrion (Sri Lanka) John Taylor Reio InntilulG and Modw)al Sooioty Royal Brampton Hospital Other 5,000 384,)2 36,892 10,CM)O 1.003.920 14,500) 6,722 7,500 1.006.142 448.794 Net movemont In fund8 2024 2023 The net movem8nl in is staled aftor ¢harging'. Fees pay8bl& lo Ihe charrty's audrtor.. fw the 4udil of the charit9 finano'al statements lor gGcounts preparation 8.000 2,000 8.OCKI 2,000 Tru•tg0• None ol the Trustees lor any per8on8 connected with them) f8¢0ived any remuneration or benefi18 from thè charity during Ihe yoar. No expen8es were paKI lo the Irusteos in Ihe year under ievlew Employeej The averag8 monthty nunknr of employees during the year was.. 2024 2023 Numbor Total 16-
GNANAM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Amounts falllng due wlthln one year. Olher debtrys 30.1)00 30,000 The brought foard balance for debtors represented donations in advance whKh have been released In th current year. 10 Crodltord: amounts falllng wlthln one year 2024 2023 A¢¢ruals 40,271 54,100 11 Related party tranuctlon8 Lycamobll• UK Llmltsd The company reIVed unreslrKted donations from the Lycambilè UK Limited amounting lo £l,1)80,89112023- £391.5001 where Aiadurai SN8samy Premananlh•n 18 diredor who 1$ a180 the trusleeldirector of Gnanam Foundatn, consid8red as related party. Lycatsl S•rvl¢o¥ Ltd The compgny received donation8 in kind from Lycatel S¢rvi¢e¥ Limile(l Jmounling to £30.00012023- £30,OCN)I for year end 31 December 2024 wh8reAiadurai SNa¥amy Premananlhan is director and is also a trusteeldlrector of Gnanam Foundation. Gnamm Foundatlon18rl Lanka During Ihe period Gnanam Foundat¢on proVad general grants to Gn8n8m Foundatson IRegi81ered Charity in Sri Lanka) amounts'ng lo £1,003.920 12023 . £384,902), wnsldered as related party by virtue of the 8plrlt of the company. 12 Audltor Llablllty Llmltatlon The conwany has enlered inlo a li8bllity limitatn 8greemenl with Sterling Young Ltd, the slalulory auditor, in respect of the slalulory audit foi the perioJ ended 31 Deagmber 2024. The proport¢onale liability agreement follows the 81andard terms in Appendix B lo Ihg Financial Reporting Counul's June 2LN)8 Guhlance on Audrtor Llabilily Agfeemènls, and wo¥ approved by Ihg sh8reholder on 15 August 2025. 16-