Charity Number: 1164785 ## Arora Foundation Report and financial statements For the year ended 5[th] April 2025 ## Arora Foundation ## Reference and administrative information for the year ended 5[th] April 2025 **Charity number** 1164785 **Registered office and operational address** Suite 1.01, Westgate, 44 Hale Road, Hale, Cheshire, WA14 2EX ## **Trustees** Trustees who served during the year and up to the date of this report were as follows: Bobby Arora Shagun Arora Simon Arora ## **Bankers** Coutts & Co 440 Strand, London, WC2R 0QS Barclays Wealth & Investment Management 2[nd] Floor, 1 Park Row, Leeds, LS1 5AB ## **Accountants** Slade & Cooper Limited Beehive Mill, Jersey Street, Ancoats, Manchester, M4 6JG 1 ## Arora Foundation ## Trustees’ annual report ## for the year ended 5[th] April 2025 The trustees present their report and the unaudited financial statements for the year ended 5[th] April 2025. Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102. ## **Objectives and activities** The aims of our charity are to advance such charitable purposes (according to the law of England and Wales) as the trustees see fit from time to time in particular but not limited to the advancement and promotion of health, education and amateur sport opportunities for the underprivileged in the UK and India for the public benefit by making grants and awards to organisations which provide such opportunities. For the purposes of this clause 'underprivileged' means individuals in need of compassionate or financial assistance by reason of social or economic circumstances. The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remain focused on its stated purposes. The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set. ## **Grant making policy** Arora Foundation does not accept unsolicited grant applications. Grants are awarded to projects which meet the objectives of the charity. ## **Achievements and performance** The charity's main activities and who it tries to help are undertaken to further charitable purposes for the public benefit. ## **Beneficiaries of our services** Arora Foundation has made donations to the following in 2024-25: Shrewsbury School Foundation, Manchester Maccabi Community & Sports Club, British Heart Foundation, GiveWheel, Alzheimer's Society, The Prince's Trust, Cure Leukaemia, Vedanta Institute, Francis House. 2 ## Arora Foundation ## Trustees’ annual report for the year ended 5[th] April 2025 ## **Financial review** ## **Investment policy and performance** The Trustees agreed a risk averse strategy to investments and in the current economic climate have taken a prudent view to hold any cash funds in a bank account earning a small rate of interest. ## **Reserves policy** The charity has sufficient reserves to continue its work. The Trustees continuously monitor cash flow. ## **Principal Funding Sources** Arora Foundation is funded by donations from private individuals. ## **Structure, governance and management** ## **Governing Document** The charity is set up as a charitable trust and its constitution is the Deed of Trust which established the objects and powers of the charity and it is governed under its Deed. ## **Organisational structure** The day to day management of the organisation is the responsibility of Bobby Arora, who then reports to the trustees. All trustees give their time voluntarily and receive no benefits from the charity. ## **Related parties and relationships with other organisations** In so far as is complementary to the charity’s objectives, the charity is guided by the judgement and experience if its trustees. ## **Risk management** The management has conducted a review of the major risks to which the charity is exposed. These are mainly in the area of grant making where a project may be supported which is not in line with the charity’s objectives or which does not deliver the results expected by the organisation. Systems and procedures have been introduced to mitigate these risks. 3 ## Arora Foundation ## Trustees’ annual report for the year ended 5[th] April 2025 ## **Statement of responsibilities of the trustees** The trustees are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the trustees are required to: - Select suitable accounting policies and then apply them consistently - Observe the methods and principles in the Charities SORP - Make judgements and estimates that are reasonable and prudent - State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees’ annual report has been approved by the trustees on 30/10/2025 and signed on their behalf by Bobby Arora Trustee 4 ## Independent Examiner’s Report ## to the members of ## Arora Foundation I report on the accounts of the Charity for the year ended 5[th] April 2025 which are set out on pages 6 to 14. ## **Responsibilities and basis of report** As the charity’s trustees 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 charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no 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 charity 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. Jennifer Daniel FCCA Slade & Cooper Ltd Beehive Mill Jersey St Ancoats Manchester M4 6JG Date: 10/11/2025 5 Arora Foundation Statement of Financial Activities for the year ended 5 April 2025 Unrestricted funds Restricted funds Total funds 2025 Total fund5 2024 Note Income from: Donations and legacies 300,000 300,000 15,000 Investments 21,130 21,130 9, 735 Total income 321,130 321,130 24,735 Expenditure on: Grants 686,582 686,582 25,146 Administration costs 1,440 1,440 1,197 Total expenditure 688,022 688,022 Net expenditure for the year (366,892) (366,892) (1,608) Net movement in funds for the year (366,892) (366,892) (1,608) Reconciliation of funds Total funds brought forward 469,704 469,704 471,312 Total funds carried forward 102,812 102,812 469,704 The statement of financial artivities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. Arora Foundation Balance Sheet as at 5 April 2025 Note 2025 2024 Current assets Cash at bank and in hand io 104,252 470,304 Total current assets 104,252 470,304 Liabilities Creditors= amounts falling due in less than one year li (1,440) (600) Net current assets 102.812 469,704 Total assets less current liabilities 102,812 469,704 Net assets 102,812 469,704 Funds of the charity: Unrestrirted income funds 12 102.812 469,704 Total charity funds 102,812 469,704 The notes on pages 9 to 14 forni part of these accounts. Approved by the trustees on 3011012025 and siqned on their behalf by: Bobby Arora (Trustee) Arora Foundation Statement of Cash Flows for the year ending 5 April 2025 Note 2025 2024 Cash used in operating activities 15 (387,182) (10,743) Decrease in cash and cash equivalents in the year (366,052) (1,008) Cash and cash equivalents at the beginning of the year 470,304 471,312 Cash and cash equivalents at the end of the year 104.252 470.304 Arora Foundation Notes to the accounts for the year ended 5 April 2025 Accounting policies The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows: a Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021, second edition October 2019 (Charities SORP {FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Accounting Prartice. The accounts (financial statements) have been prepared to give a 'true and fair view. and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view,. This departure has involved following 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), second edition Ortober 2019, rather than the Accounting and Reporting by Charities.. Statement of Recommended Prartice effective from l April 2005 which has since been withdrawn. Arora Foundation meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless Otherwise stated in the relevant accounting policy note. b Preparation of the accounts on a going concern basis The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concem. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period. c Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. d Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charityi this is normally upon notification of the interest paid or payable by the Bank. Arora Foundation Notes to the accounts for the year ended 5 April 2025 (continued) e Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to Use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity. f Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings.. Grants made Administration costs Other expenditure ￿presents those items not falling into any other heading. Irrecoverable VAT is charged as a cost against the artivity for which the expenditure was incurred. g Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayrnents are valued at the amount prepaid net of any trade discounts due. h Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from past event that will probably result in the transfer of funds to a third party and the arnount due to settle the obligation can be measured or estimated reliably. C￿dItorS and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. j Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic ffinancial instruments are initially recognised at transaction value and subseqLJently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. io Arora Foundation Notes to the accounts for the year ended 5 April 2025 (continued) Legal status of the charity The charity is an unincorporated charity. registe￿ as a charity in England & Wales. Income from donations and legacies Unrestrirted Restrirted Total 2025 Total 2024 Donations 300.000 300,000 15,000 Total 300.000 300,000 15,000 Investment income Unrestricted Restricted Total 2025 Total 2024 Income from bank deposits 21,130 21,130 9, 735 21,130 21,130 9, 735 Analysls of expendlture on charltable actSvltles Grants payable Admin costs Total 2025 Total 2024 Grants payable (note 14} 686.582 686,582 25,146 Governance costs {see note 61 1.440 1,440 1,197 686.582 1.440 688,022 26,343 2025 2024 Unrestricted expenditure 688,022 26,343 688,022 26,343 Analysis of governance and support costs Basis of apportionment Governance Total 2025 Accountancy services Govemance 1,440 1,440 I,Ho 1,440 li Arora Foundation Notes to the accounts for the year ended 5 April 2025 (continued) Net income/(expenditure) for the year This is stated after charging/{crediting): 2025 2024 Independent examiner's fees Accountancy fees 1,200 600 Trustee remuneratlon and expenses, and related party transactlons Neither the management committee nor any persons connected with them received any remuneration or reimbursed expenses during the period. Aggregate donations without conditions from related parties were £300,000 12024.. Énil). No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity. including guarantees. during the period. Income tax The charity is exempt from tax on income and gains falling within the Income Tax Act 2017 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity. 10 Cash at bank and in hand 2025 2024 Cash at bank and in hand 104.252 470,304 104.252 470,304 12 Arora Foundation Notes to the accounts for the year ended 5 April 2025 (continued) 11 Creditors: amounts falling due within one year 2025 2024 Other creditors and accruals 1.440 600 1.440 600 12 Analysis of movement in unrestricted funds Balance at 6 April 2024 Asat5 April 2025 Income Expenditure Transfers General fund 469,704 321,130 {688.022) 102,812 469,704 321,130 {688.0221 102,812 Previous reporting period Balance at 6 April 2023 Asat5 April 2024 Income Expenditure Transfers General fund 471,312 24.735 (26,343) 469,704 471,312 24.735 (26,343) 469,704 Name of unrestricted fund Description, nature and purposes of the fund General fund The free reserves after allowing for all designated funds 13 Analysis of net assets between funds General fund Designated funds Restricted funds Total other net current assets 102,812 102,812 Total 102,812 102,812 13 Arora Foundation Notes to the accounts for the year ended 5 April 2025 (continued) 14 Grants 2025 2024 Shrewsbury School Foundation Manchester Maccabi Community & Sports Club British Heart Foundation Givewheel Alzheimer's Society The Prince's Trust Cure Leukaemia Vedanta Institute Francis House Fence Club Trust Fund 661,732 15,000 250 500 2,000 4,000 1,000 2,000 loo 6,546 18,600 686,582 25,146 15 Reconciliation of net movement in funds to net cash flow from operating activities 2025 2024 Net expenditure for the year Adjustments for: Increase in creditors {366,892) (1,608) 840 600 Net cash used in operating activities (387.182) (10,743) 14