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2023-03-31-accounts

DocuSign Envelope ID: BA6112AB-0C5E-4411-9C13-8516C6D79309

Charity registration number 1166879

PARDADA PARDADI EDUCATIONAL SOCIETY UK ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

DocuSign Envelope ID: BA6112AB-0C5E-4411-9C13-8516C6D79309

PARDADA PARDADI EDUCATIONAL SOCIETY UK

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Mrs Emma Horne Mrs Fiona Marshall Anima Aggarwal Miss Suparna Malhotra Professor Subhash Anand MBE, PhD

Charity number

Independent examiner

1166879 M J Bushell Audit LLP 8 High Street Brentwood Essex CM14 4AB

DocuSign Envelope ID: BA6112AB-0C5E-4411-9C13-8516C6D79309

PARDADA PARDADI EDUCATIONAL SOCIETY UK

CONTENTS

Page
Trustees' report 1
Independent examiner's report 2
Statement of financial activities 3
Balance sheet 4
Notes to the financial statements 5 - 9

DocuSign Envelope ID: BA6112AB-0C5E-4411-9C13-8516C6D79309

PARDADA PARDADI EDUCATIONAL SOCIETY UK

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's [governing document], the Charities Act 2011 and "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).

Structure, governance and management

The Trustees who served during the year and up to the date of signature of the financial statements were: Emma Horne (Chair)

Anima Aggarwal Professor Subhash Anand MBE, PhD Suparna Malhotra Fiona Marshall

The Trustees appointed a new auditor, MJ Bushell Audit LLP. We would like to express our gratitude to MLM Burnells Accountancy Ltd, who kindly provided auditing services to PPES UK for the last 7 years on a probono basis.

PPES UK is applying to the Charity Commission for CIO status, that will provide improve our recognition as a properly run NGO. The new auditors will assist in guiding PPES UK to meet the increasing requirements related to compliance, structure and governance.

Financial review

The financial year 2022/23 enabled us to have our strongest year for income and remittances to PPES in India. High level financial information is as follows:-

Income £262,378 Remittances to PPES India (£196,598) Total Expenses (Fundraising / opex, (£10,653) Consultant)

It is important to point out that the accounts show a total expenditure of £226,780, which includes the £196,598 that was remitted to PPES in India. Total expenses were £30,182 of which operating costs were just £10,653 representing just 4% of total turnover, down from 8% in 2021/2022. The bulk of funds remitted to PPES in India were allocated toward Girl education sponsorship and Capital for the school expansion project.

The Trustees' report was approved by the Board of Trustees.

.............................. Mrs Emma Horne

Trustee

02 December 2023

Date: .............................................

DocuSign Envelope ID: BA6112AB-0C5E-4411-9C13-8516C6D79309

PARDADA PARDADI EDUCATIONAL SOCIETY UK

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF PARDADA PARDADI EDUCATIONAL SOCIETY UK

I report to the Trustees on my examination of the financial statements of Pardada Pardadi Educational Society UK (the Charity) for the year ended 31 March 2023.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 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 ICAEW, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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:

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 financial statements to be reached.

Corné Von Wielligh ACA

M J Bushell Audit LLP

8 High Street Brentwood Essex

CM14 4AB

08 December 2023

Dated: .........................

DocuSign Envelope ID: BA6112AB-0C5E-4411-9C13-8516C6D79309

PARDADA PARDADI EDUCATIONAL SOCIETY UK

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and
legacies
2
99,388
619
Charitable activities
3
18,942
143,429
Total income
118,330
144,048
Expenditure on:
Charitable activities
4
79,295
147,485
Net incoming/(outgoing)
resources before
transfers
39,035
(3,437)
Gross transfers
between funds
(3,437)
3,437
Net income/(expenditure)
for the year/
Net movement in funds
35,598
-
Fund balances at 1 April
2022
16,518
-
Fund balances at 31
March 2023
52,116
-		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
100,007
21,738
-
162,371
2,588
93,697
262,378
24,326
93,697
226,780
14,769
137,306
35,598
9,557
(43,609)
-
(46,654)
46,654
35,598
(37,097)
3,045
16,518
53,615
(3,045)
52,116
16,518
-		 Total
2022
£
21,738
96,285
118,023
152,075
(34,052)
-
(34,052)
50,570
16,518

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

DocuSign Envelope ID: BA6112AB-0C5E-4411-9C13-8516C6D79309

PARDADA PARDADI EDUCATIONAL SOCIETY UK

BALANCE SHEET

AS AT 31 MARCH 2023

Notes
Current assets
Debtors
9
Cash at bank and in hand
Net current assets
Income funds
Unrestricted funds		 2023
£
41,848
10,268
52,116		 £
52,116
52,116
52,116		 2022
£
2,716
13,802
16,518		 £
16,518
16,518
16,518

02 December 2023

The financial statements were approved by the Trustees on .........................

.............................. Mrs Emma Horne Trustee

DocuSign Envelope ID: BA6112AB-0C5E-4411-9C13-8516C6D79309

PARDADA PARDADI EDUCATIONAL SOCIETY UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

Pardada Pardadi Educational Society UK, provides voluntary support, and offers free advice that helps to educate and empower thousands of disadvantaged girls and women in rural Northeast India.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The Charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements 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 the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention,

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.

1.4 Income

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

DocuSign Envelope ID: BA6112AB-0C5E-4411-9C13-8516C6D79309

PARDADA PARDADI EDUCATIONAL SOCIETY UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

DocuSign Envelope ID: BA6112AB-0C5E-4411-9C13-8516C6D79309

PARDADA PARDADI EDUCATIONAL SOCIETY UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.8 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Donations and legacies

Unrestricted Restricted **Total ** Unrestricted
funds funds funds
2023 2023 2023 2022
£ £ £ £
Donations and gifts 99,388 619 100,007 21,738

3 Charitable activities

Charitable Charitable
Income Income
2023 2022
£ £
Further education fund 6,856 13,750
Girls education sponsorship 20,141 20,690
Capital 119,986 33,000
Other projects 197 26,257
Other activities 15,191 2,588
162,371 96,285
Analysis by fund
Unrestricted funds 18,942 2,588
Restricted funds 143,429 93,697
162,371 96,285

DocuSign Envelope ID: BA6112AB-0C5E-4411-9C13-8516C6D79309

PARDADA PARDADI EDUCATIONAL SOCIETY UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

4 Charitable activities

Charitable Charitable
activities activities
2023 2022
£ £
Funds remitted
196,598 121,805
Specific Event cost - 12,000
Fund raising costs 19,529 4,500
216,127 138,305
Share of support costs (see note 5) 10,653 13,770
226,780 152,075
Analysis by fund
Unrestricted funds 79,295 14,769
Restricted funds 147,485 137,306
226,780 152,075

PPES UK is a fundraising organisation for PPES in India. As such the funds remitted to PPES in India for the charitable work are recorded as expenditure in the accounts. Note 5 provides the detailed actual operating costs for PPES UK.

5 Support costs

Operating expenses
Consultancy costs
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
4,809
-
5,844
-
10,653
-
10,653
-		 2023
£
4,809
5,844
10,653
10,653		 Support
costs
Governance
costs
£
£
3,321
-
10,449
-
13,770
-
13,770
-		 2022
£
3,321
10,449
13,770
13,770

6 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.

DocuSign Envelope ID: BA6112AB-0C5E-4411-9C13-8516C6D79309

PARDADA PARDADI EDUCATIONAL SOCIETY UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

7 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
5 5

Employees during the year consisted of only the trustees.

There were no employees whose annual remuneration was more than £60,000.

8 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 9 Debtors

Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income		 2023
£
15,848
26,000
41,848		 2022
£
2,716
-
2,716