AMRIT AND AJIT CHARITABLE TRUST LIMITED Annual Report and vnaudited fSn3nclal statements for the year ended 30 November 2023 AMRIT AND AIIT CHARITABLE TRUST LIMITED CONTENTS Charity Informatlon Trustee report Accountants report Statement ollnanclal attlvitles Statemènt of flnanclal posltlon Notes to the accounts AMRIT ANDAJIT CNARITA8LETrUST LIMrrED CHARftY INFORMATION Trustees Mr B5 8ahra Mrs S K Bahr Charlty number 1165578 Company trtsmbEr 9864871 CharSty offites Unlt 9.13 Crystal Drlve Srnethwlck West Mldlands B66 IQG Actountints Barnett Ravenscrolt Limlted Chirtered Accountants nd ReglstervdAudltors 13 Portland Road Ed¥ba5tun Bimiln8harn B16 9HN AMRIT AND *iTIT CHARITABLE TRIJST LIMITED TRUSTEES. REPORT IINCLUDING DIRE￿oR$, REPORTI forthe yearended 30 14o¥ember 2023 TRUSfEES TheTiustees Thamed OD page I have servedthr#u8houttheyear. Appolntment tsf Trustees Is governed by the Trust Deed of the Charity. The powerof appolntlne new or odditlothal Trustees Is vested in the surylvln8 or rontinuinKTrustees followlngthe re51qnation ordeath Df an existlw fNstEE. oBJecTS OF THE CHARITY Accordlng to the ArtScle5 of Nssoclatltsn and Fabth af the charlty. th¢ aim ind oblectfve of ihe company is preventlon or relief of poverty In devoloplng tountries, partkularly in Indla and Afrlca by prgviding: al Grant to tsthEr ch¥rltl45 or charltBble or8aThlsatlon bl1tem¥ and serylces to Indlvldual faclni poverty and deprlved of ba51c needs. The TN5tees have pèld due Tegord5to8uldance Issued bythe Charlty Comm15Ston In decldln8 what actlvltlos the Trustees should unden•k•. Anoncl41 revlow It Is the pollcy ofthe frust*ts that unre5trlEted funds whlch ha￿ not been deslgn•ted for • Spèclfic use should be rr41ntained ata level equlv41eDtto bEtween three to slx-months txpendlture. ThE Trustees Eon51ders that fesirNe$ at thls levelwlll ensure Ihal In tho •wnt of slgnlflc*rtt drop of fundln& rhey wlll be able to Eontlnue the Trustee5 ¢urrent •¢tlvitles whlle conslderatlon Is 8lven to ways In whlch addltloThol fvnds maybè ralstil. Thls level of res¢rves h•$ bèen malntslned throuihout thè yeir. TheTrustee5 hès assessed th¢ mBlorrl$k5 towhlch the Trustees Is exposed Bnd ar¢s•tlsfl¢d thit systems Ire In pla<• to mltliate exposerto ihE major r15ks. StructUf•i io¥aro•nc¢ and manaiement The trust¢es, who are the dlrectors forthe purpose of company raw, and who s•rwed durlni tho ytar were.. Mr B S Bahra Mrs S K Bahri None ol the Trustees h05 aTry benellcial interqst In the company. All the trustE¢s are members of the ¢ompany and iuarantee to tontrlbute £15n the eventol • wirydlnB UP. Page 2 AMRIT AND AIITCNARITA8iE TRUSfuMITED TRUSTEE5' REPORT for the yearended 30 NDvembeT 2D25 5TATEMENYOF TRVSTEES. RESPONSIBILrriEs Thetrustees aTe responsible fgr preparlrrf the RÈpott of the Trustees andthe tlnanciol statèments in accord2nce with appllcable law ond Ualted K5ngdDm Gener411yAccepted A¢rountin% Practlce. The Ihw appllcable to rharities in England ènd W41e$, The ChèrliiÈs Act 2011, Charty (Accounts and Reports) Requlètlons 2008 ind the provlsltsns of the trust deed require5 the tru5teesits prepareflnanthal statement5 for each fin8n£lal year whi£h glve È true and falr vlevj of thp state of Èffalrs of the charity and of the Incomlng resources and application of resourte. including Income and e¥pendlture, of the charltyfor that perlod. In prtparlnq the flnancl41 statemonts thp tru5tee$ 4re required to.. stlect 5uiiibl* accountlng policies and then apply them ton51stentlvi observe the mEthods 8ftd prlThclples in th¢ Charltles Ststempnt of Retgmmended Practke,. rnakeludgement5 Ind estimates that Ore re450n?ble and wdent,. 5tatewhethÈr wpplicabl¢ accountini standards hève been folknwed subleci to iny materlal departures disclosed knd explalntd In the flnan¢¢ol st&tÈrnents.' •nd prepire the ilnèneial $i&temeDts on a 8oin8 cM¢ern bBsls unless It Is Inapproprlate to assum• that the Charltywlll conttnuE. The trusiees respaftslble for keeplni proper atcountin8 recordswhlch dlsclos• wlth reasonable •¢curacy at 4ny tlme the flninclèl po£ltlon of the ¢h8rltyand en?ble them tp ensurÈ that thÈ Ilnèntl41 statEments c2rnply with ihe Ch•rltles Art 2011. the Chèrity (Accounts and Reports) Rteulatlons 200B ind the prov151gn5 of the trust deed. Thty are a15c respon51ble for s•fe¥uardlng the asset5 01 the rharlty ind h¢nco for taki￿ rea50n*ble step5 for th¢ preventlon and detection al fravd and other Irrogu12rltles. APPROVAL Approvid bythe Trustees on 23 Auiust 2024 and sl¢ned On Its b¢hali by.. MrBSBahr Trust•• Pa8e 3 AMRIT AND AJITCHARITABLETRUST LIMITED CHARTERED ACCOUNTANTS. REPORTTO THE BOARD OF DIREcfoRS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF AMRIT AND AIITCHARIYABLE TRUST LTD FOR THE YEAR ENDED 30 NOVEMBER 2023 In order to a5S5St you to fulfil your duties undfrr thè Companles house A¢t 2006, we have prepared foryour approval the account5 of Amrit and Allt Charitable Trust for the year ended 30 November 2023. Which comprise of the Statement of flnancial actlvities and related notes from the charitI5 accountln8 records and from the information and explanation you have 6iven us. As a practSsin8 member firm of the In5tlrute of Chartered Accountant In England and Wales, we are sublett to its ethlcal and other professional requirement which are detalled at Icaew.romlmembershandbook. This report15 made forthe Charlvs Trustees, as a body, lrt accordance wlth the terms of our en8a8ement letter dated 16 August 2022. Our work has been undertaken solely to prepare for your approval the accounts of Amrit and Ajit Charltable trust Ltd and state those matters that we have agreed to State to the charitV5 trustees, as a bodyi In the fullest extènt permltted by law, we do not accept Dr assume responsiblllty to anyone other than Amrit and ￿lt Ch3rlt?ble7rust Ltd and the charSVs trustee's ?5 a body, for our work or for thls report. It15 your duty tts ensure thatAmrlt and Allt Charltable Trust Ltd Kept adequate accounting records and to prepare statutory fln•ncial statements that glve a true and falr vlèw of the 85sets, Ilabllltlès, flnancial ptssltlon of the and surplus of Amrlt and Allt CharltableTrust Itd. You consider that Amrit and Allt Charltable Tfu5t Ltd Is exempt from the statutory atjdlt requSiement for the year and Is not required to obtèln èft Independent examlnefs rèport. We have not been Instrutted to carry gut an audit or a revlew of the accounts of Amrtt and Alit Chirltable trust Ltd. For th15 reason, we havt not verlfled the accuracy or completeness of the accountlng records or Information and explanatlon you have glven us and we do not, therefore, express any oplnlon on the statutory arcDunts. arnett av 5croft L Chartered Accountants 13 Portland Road Edgbaston Blrmingham 8169HN Date.. 23 August 2024 Page 4 AMRIT ANDAIITCHARITABLE TRUST LIMITED ATEMENT OF FIP4ANCIALAcnviTIES forthB yearended 30 November2023 Unrestrkted Funds INCOM114G RESOURCES NDtes 2025 2022 Incornlng resources from generated futmts: DonatIL￿s and leÈacies 3S,871 54.0 Total I￿omIng resource5 35,871 54,0 ResovRCÉS EXPENDED Atcountancy Fees Bank Charges Ch¥rltableArtlvltlE5 850 29 34,624 146 14,700 Yotal Te5DUfC• •xyneded 14,846 35.503 ET ISURPLLIS) FOR THEYEAR 21,025 18,497 STATEMENTOFOTrIER RECOfjNI￿E0 GAINS N*t ISURPLUSI for the y¢ar 21,025 18,497 Net movoment Inlundg In ye•r Funds brouihtfprward 21,025 261,083 18,497 242.586 f￿ndS ¢arrfed forward 282.106 261,083 The statement If flnènclal actlvltles also ¢ompll•s wlth the reqvlrernent5 foran Inttsmt and expendlture xcount unde¢th• Companles Act 2006. PaEe 5 AMRIT ANDAJIT CHARITABLEYRU5T UMITED STATEMENT OF FINANCIALposmop4 fortheyeaT Ended 30 No¥ember2023 Notes 2023 ZD22 CURRENY A55Ers Debtors Investment Cash at b•nk•nd In hand 426 247,880 35,958 284.264 426 247.880 14,933 263,239 CURRENT LIABILITIES Credltors 2.156 2,156 282,IOB 261.083 NETCURRENT￿ssETS 282,108 261.083 NET ASSErs FUNOS 282.108 261,083 Unrestl¢t•d Fund Forthe linanclal year ended 30 November 2023 tho tompany was etttltl¢d to exernp¢ion fr¢m audit undeiseetlon 477 olthe Companles Aet 2006 Olrèrto¢i r•5PDnglbllitl•s'. -The members h4v• not iequlred thè ¢ampanytc obtaln 4n 4udlt ¢f Its f5nènelal st•tem?nts forthe ye*rln quo5tl Itcordance with 58ctlon 476.. .The dlrectors acknowlgd8e thelr rt5pons5bllltles for complylng w5th the requlrement ol the Actwlth respeit to ccountlns record5 and the preparatlon of finantlal Siatomqnts. These flnanclal staiements have been pr•p•red In accord8nc¢wlth the provlslons applleiblE to ccrfnpanlts sublict to the smBII companles rellme. Th* flthèn¢lBI ststem¢Ns w•r• ipproved by the tru5tee5 on 23 Avgust 2Q24 and 518ned on Its beh411 by Mi B S BahTa Trustee Company ReB15tratlon No.. 09864871 Pa£0 6 AMRIT ANDAJIT CHARITABLE TRUSTIIMITED NOTESTO ThE ACCOUNrs for the yearended 30 No¥Èrnbtr 2023 L Company Information Amrit and Arllt Charitable Trust 15 a private company Ilmiied by guarantee IDcorporated In England Wales. The reÈisitrcd and busujcss addTess 15 UJ)il 9- 13 Cry5ts1 Driv¢. Smeihwi¢K England. B66 IQG. 2 ACCOUNT¢NG POLICIÉS AccountlDg tODvendDn These finanrlal 5t3ternents have been prepared In compliance wlth the w0￿510n$ of FR$ 102, Sectloft 14 Yhe Flnanclal Reportln8 Standard applicable in the UK and Republic of Irelènd'."A£countln8 and reportin¥ by Charltles. and statement of recorprnended pract5ce forcharitles èppl¥in8 FRS 102, tha comp8niesAct 2006 and UK fjeoer4lly Accepted Accountlng Pra¢tl¢e os It applle5 from l Jènu?ry 2015. BA$li of gtcDynting The fin?nctal Statements have been prepared on the hlstorlcal tost b)$15. The flnanrlal statements 4rÈ prepared In sterlin8, whlch15the functlon•l cyrren¢y olthe entity4nd have been rounded to th? nearest £1. b fjolni Concorn AtthÈ ilmt of approvlni the accounts, lh• Trv5tees have reaiothable expE£titlon that the Tru5ree$ has adequate resoureÈs to eontlnue In operational exlsren¢e for the foreseeable future. Thu5 theTru5tees r¢ntlnuq to adopt the golng concErn b3515 of accO￿ntIng In preparlji ihi •¢tDuTht5 ¢ Chirliiblt fundi Unrestrlct8d fund5 are avill8b￿ for use •t tht dlscretloTr of the twsttes In lurtherance of thÈlr charltable obloctlves unleu the lund5 have beers des18natÉd for other purposes. Restrlcted funds orE 5ublectto spe¢in¢ condltlon by from donor45 to how they mèyne used. The purpose and use5 ef the restrlcted funds are $¢1 ¢yl In thB note5 te the aecounts. Endowmqnt funds are sublert to th¢ $pKlfi¢ ¢ondltlons by doThor5 th8t the cèpltal must be malntalned by the Trustees. d IDcomln8 tesoiirtES Incomels reco8nis¢d when tht trustees u5 le8èlly entititd to it after any perfomiance condlt5ons have bÈeo rnÈt,the amounu can be me95ured rellablyi and Itls probable that inEome w511 be recqlved. Cash donatlon Is recoÈnised on recelpt. OtheT dvnatlon5 are recognlsed once theTrvste¢s h•s been notlned of the donatlon. ithloss perforrnance condlrloDs require deferr31 of the amount. Income tèx rt¢overable in relatlon to donations recelved under GiftAld or deeds of convent15 rew8nlsqd at rhetlme of donatlon. LeBacle5 are recogn15ed on recelpi or otherwise If the Tntstees has beèrt notified vf an impendlng distribution. the arnount15 known, and recelpt is Èxpected. If the amouni is not known, the leÉatyis treated as a contingent aS5tt. • C3$h and cash equlvilents Cash ar¥1 ¢a$h equlvalent tssh hènd. dÉptssi15 held at call wlth banks, othershort-tÈrrn liquid investments wilh oThginal maturities of throe months orless, and bank overdrafts. Bank ovÈrdrafts a shown wlthln borrowiTr8s in £urrpnt liabilities. Pa8e 7 AMRIT AND ￿lT CNARITABLETRUST LIMITED NOTES TO THE ACCOUNTS fortheyear ended November 2023 f Investments Stock EXcha￿8e Investments are statEd at Marketvalue at the Balance Sheet date. Rei115ed and unrealised galns 4nd105SES on investments are dealt wlth sn thestatement of FinancialActlviile5. Finandèl assets wlth fixed ordetermlnablw payment and Flxed rnaturitydatesthitthe Company has positive Inient abilityto hold maturity cla55ified as held to maturlty InvestmEnts. Held to maturity investments are measured at amartised c05t U￿n£ the effective interest m*thpd less any impalrmerbt. wlth revenue reco8nised ￿ an effective ylÈld basis. Employee b4netSts The r05t of any unusÈd holiday entltl¢rnent15 reco¥n15ed In the period In whlch the employee's se￿￿¢t$ *r8 Tecelved. Termlnat4un beneflts ère recognlsed immedlately 0$ an expense when the egmpany Is demo•s¢rnbty commltted ¢oterminate the employmentof an ernployee or its Iprovide termlnètion benBfit5. Forelsn ex£hanEe Transèctl¢ns In Currencles ath¢Tthan pounds 5t•rlln8 Ire recordod the rntes of exchawe prevalllhi attht ditesof thi tr4n$4dSons. At e4ch rtportin¥ end datp. monetary Is5ets and Ilablllties thèt ère denornlnoted In foreign curren