## **Trustees’ Annual Report for the period** **From 15[th] January 2024 To 15[th] January 2025** ## **Charity name: Institute for the Advancement of Vedic Mathematics** ## **Charity registration number: 1169197** ## **Objectives and Activities** ||SORP reference|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|**To promote, disseminate, research and**
**support the system of Vedic Mathematics**
**internationally.**| |Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or services
identified in the accounts.|Para 1.17 and
1.19|**Annual online conference**
**Free webinars called “Knowledge Series**
**Lilavati Puzzle/Poetry competition**
**International Vedic Maths Olympiad**
**Teacher training programme online**
**Teacher training programme at NW**
**University, South Africa**
**Teacher training programme at colleges**
**in the Philippines**
**Vedic Maths Diploma assessments**| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|**The trustees can confirm that all**
**activities are for the public benefit.**| ## **Additional information (optional)** ## You may choose to include further statements where relevant about: ||SORP reference| |---|---| ||Para 1.38| |Policy on grant making|| ||Para 1.38| |Policy on social investment|| |including program related|| |investment|| ||Para 1.38| |Contribution made by|| |volunteers|| Other ## **Achievements and Performance** ||SORP reference|| |---|---|---| |Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|**The charity has enabled an increase in**
**engagement with Vedic Maths,**
**particularly in the Philippines. For**
**example, this is the fourth year of**
**running our international competition**
**(IVMO) and have seen numbers of**
**participants approximately doubling each**
**year. This year was just over 10,000.**
**Through our courses, both teachers and**
**students have found the quick**
**techniques useful and enjoyable, and**
**which help to dispel the fear of number.**| **Additional information (optional)** You may choose to include further statements where relevant about: |
Achievements against
objectives set|
Para 1.41|| |---|---|---| |Performance of fundraising
activities against objectives
set|Para 1.41|| |Investment performance
against objectives|Para 1.41|| |Other||| ## **Financial Review** |**Financial Review**||| |---|---|---| |Review of the charity’s
financial position at the end
of the period|Para 1.21|| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|**The charity does not have a reserves**
**policy**| |Amount of reserves held|Para 1.22|| |Reasons for holding zero
reserves|Para 1.22|| |Details of fund materially in
deficit|Para 1.24|| |Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|| |**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:| |---|---|---| |The charity’s principal
sources of funds (including
any fundraising)|Para 1.47|| |Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|| |A description of the principal
risks facing the charity|Para 1.46|| |Other||| ## **Structure, Governance and Management** |Description of charity’s
trusts:||| |---|---|---| |Type of governing document
(trust deed, royal charter)|Para 1.25|**CIO Constitution**| |How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|**CIO**| |Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|**Trustees have been selected based on**
**their expertise within the subject and**
**willingness to work voluntarily for the**
**benefit of the charity and the public.**| **Additional information (optional)** You may choose to include further statements where relevant about: |
Policies and procedures
adopted for the induction and
training of trustees|
Para 1.51|| |---|---|---| |The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51|| |Relationship with any related
parties|Para 1.51|| |Other||| ## **Reference and Administrative details** |Charity name|Institute for the Advancement of Vedic Mathematics| |---|---| |Other name the charity uses|| |Registered charity number|1169197| |Charity’s principal address|28 Blakesley Avenue, Ealing, London, W5 2DW| ||| ## **Names of the charity trustees who manage the charity** |1
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20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**Name of person (or body) entitled**
**to appoint trustee (ifany)**| |---|---|---|---|---| ||James Glover|Chairman||| ||Swati Dave|CEO||| ||Gowri
Ramachandan|CFO, treasurer||| ||Marianne Fletcher|||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| ## – Corporate trustees names of the directors at the date the report was approved **Director name** Name of trustees holding title to property belonging to the charity **Trustee name Dates acted if not for whole year** ## **Funds held as custodian trustees on behalf of others** Description of the assets None held in this capacity Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets ## **Additional information (optional)** ## **Names and addresses of advisers (Optional information)** **Type of Name Address adviser** **Name of chief executive or names of senior staff members (Optional information)** ## **Exemptions from disclosure** Reason for non-disclosure of key personnel details ## **Other optional information** ## **Declarations** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** **Signature(s)** **Full name(s)** James Glover **Position (eg Secretary,** Chair **Chair, etc)** **Date** 4/9/2025 INSTITUTE FOR THE ADVANCEMENT OF VEDIC MATHEMATICS Annual Financial Report for the year ended January 15, 2025 CONTENTS: Statement of financial position as at 15-Jan-25 (Balance Sheet) Statement of Receipts and Payments for the year ended 15-Jan-25 Statement of inflows and outflows of cash for the year ended 15-Jan-25 Notes to Account Consolidated receipts and payments statement 2021-2025 Schedules to Balance Sheet (1-5) INSTITUTE FOR THE ADVANCEMENT OF VEDIC MATHEMATICS Partlculars Scheduk Amount GBP Assets Current Assets: Cash and Bank Balances 4l,l46.88 Total Current Assets (A) 41146.88 Current Llabllltles: Professional fees payable Other current liabilities UAE Nalional VMO 27,673.44 171.87 108.85 Note-8 Total Current liabilities (B) 27,954.16 Net A&sets 13 192.72 Funded by: Membership Fund General fimd 2,212.03 10,980.69 Total Fund Balance 13 192.72 /AVM INSTITUTE FOR THE ADVANCEMENT OF VEDIC MATHEMATICS PArthular% Amount GBP Sources of Income l R￿eIPts Donations . General Sale of Books and Publications IVMO Solution Videos VM Tunisia Texher Training Progranllne IAVM Assessments IVMO 2024- CC IVM02024 - Participation Annual Membership Life Memberships Misc Income {Rubrix xcount ￿jUs1M¢n¢) 334.06 131.33 150.16 107.31 796.97 694.68 1.713.90 20,710.23 29.99 168.85 140.82 Total Receipts (A) 24 978.30 Appllcatlon of Income I Payments Professional fees payable Printing expenses Shipping and conveyance Zoom (Payable kn James) Raaga Value - Annual Maintenanc¢ Raa8a Value - website contr&t Raaga Value - IVMO platfonn fees and implemenlation .org rmewal fee Googk storage (James) Bank charges Transfer to Membership fund 20,219.05 46.19 14.92 155.88 699.60 2211.84 1.446.18 23.96 15.99 0.11 168.85 Total Payments (B) 25,002.57 Exce￿ of Pa ents over Reeel /AVM INSTITUTE FOR THE ADVANCEMENT OF VEDIC MATHEMATICS Statement of Inflows and Outflows of Cash for the year ended 15-January-2025 PArtk•l* USD EUR INR PHP GBP C•llvJlldAled Inllow# of C*th (A) Donations- Gener 1¢ of Books •nd Publi¢•¢ions IVMO Solution Vid¢oi VM Tunisii T¢￿h¢r Triining PM8rnmm¢ IAVM AwA￿¢ntI IVMO 2024- cr IVM02024 - Participalion Annu41 M¢mber¥hip Life MembershLPS Mi¥¢ Income {Rubrix 4¢¢0uni 106.28 20.33 284.73 334.06 131.33 lJ6.16 107.3 796.97 694.68 1,681.90 20.647.83 29.99 168.85 29.41 7.31)0.00 3,51)O.iXI 34.89 6,440.00 107.31 39.81 110.00 42,300.(M) 20,000.iXI 49.620.00 104.500.IXI 1.450.435.00 68.94 123.20 57.84 9.08 11.270.1)0 22.965.00 3.260.1)0 6.000.00 3.196.55 142.06 Tot•1 IA) 471.87 63& 9S431JS 1.635J55.00 24,758.49 Profwional f¢¢J P•KI Priniin8 exp¢nx¥ Shippin8 and convry￿Ce Zoom IR¢imbuT#meni w Jwnu for 2023) RA•81 Valu¢ add - Annu•l mainten￿¢t R•484 V4lue •dd - websi* ¢ontra RA•8• V41u¢ - IVMO p￿tro￿ Ind implernentilion .or8 renewgl fe¢ Goo81¢ s¢orB8e {Jama) Bank ¢h*r8¢S Tats Truas refund of bthnet 147.382.00 5,020.40 1.622.00 103.980.00 2.811.63 46.19 14.92 143.88 699.60 2.211.84 1.446.18 23.96 15.99 143.88 874.50 2.764.80 1.807.72 23.90 15.99 11.79 1S8,933.1)0 .462.18 Total (B) 183A3 S447.02 312.969.19 iOJ,980.00 8076A8 Ei(ai of R•c*ts over PayM￿tr {A-B) (48OU2) (217J37A4) lJ31J75.•• 1$882.01 (*eDlng B*knnee of *nd euh quJv*knts 36￿2 433,938.116 593,980.0 25264.87 CknID8 ofC*ih *nd 4,104.17 579J8 36.62 21W.42 1125J55.00 41,146.81 /AVM INSTITUTE FOR THE ADVANCEMENT OF VEDIC MATHEMATICS l Financial year end date is taken to be 15th January every year (According to application for registration of charity) 2 IAVM is considered to be a going concern and the books of accounts are maintained as such. 3 ReveDUe: Revenue is recognised on cash basis. The amount stated as revenue is actually received and held at various locations. 4 ExpeDditure: Expenditure is recognized on accrual basis. Expenditure yet to be paid on account of any transactions during the fmancial year shall be identified and recognised as expentidture 5 Assets and depreclatfjon: There are no assets held by the charity to date except the cash and bank balances by members at various locations Hence no depreciation policy is placed into account. during the year they are printed. A record of salesldonations on the publication and the closing balances is maintained at various locations. The revenue on sale of books is however considerd on cash basis in the period actually sold. 6 Memberships: Registrations for Annual Memberships will end on the date one year from the date of registration or actual receipt of payement whichever is earlier. Life memberships will be effective from the actual date of payment of fees A separate restricted fund is maintained for the life membership fees. The utilization of this fund will be decided by the trustees in a separate trustees meeting. /AVM INSTITUTE FOR THE ADVANCEMENT OF VEDIC MATHEMATICS 7 International Conference - 2019 (Hyderabad) Balances held with our educational partner, Rubrix, pertaining to funds originally received from Tats Trum were refunded to Tata Trusts during the financial year 2024. The resulting currcncy exchange difference from the refund transaction h&8 been recognized income in the books of account. 8 CurreDt Liabilities - UAE National VMO In 2023, the Institute of Advanced Vedic Mathematics (IAVM) received USD 500 from Vision Kids Training Center (Dubai) under a Memorandum of Understanding to conduct a National Vedic Maths Olympiad(UAE National VMO). The event was subsequently cancelled due to unforeseen circumstances. As a goodwill gesture, IAVM extended a USD 350 service credit valid for two years. The unutilized portion of this credit is reported as a contract liability as of January 15, 2025, and will be recognized as revenue upon written confirniation that no further ￿iCeS are required. 9 Professional Fees Payable Professional fees payable to key resource persons with respect to all the revenue generated projects undertaken during the year and the previous year has been identified by the Board and approved in the fiance committee meding held during the year. The fees thus recognized will be paid during the first quarter of the financial year 2025. l O Reportlng Currency The consolidated staiement of accounts are made in the reporting currency i.e., GBP. The opening balances are taken at the exchange rate as at 15th January 2024, Transactions during the year are considered at the closing exchage rate as at 15th January 2025. The closing balances have been arrived accordingly with this adjusthient. The c&sh flow statement and the statement of c&sh position for the year ended 15th January 2025, however, is shown at the currencies held at various locations. /AVM INSTITUTE FOR THE ADVANCEMENT OF VEDIC MATHEMATICS Schedule - I IP4R PHP .195.05 2.909.12 6.434.58 36.62 BIL￿c¢ in Lloyds B￿k Rubr￿ . Ind IAVM lfrdi• A¢¢o¥nt C*h th Hthd. STr*i 39.541.55 176.858.87 145.00 $10.otrJ.00 1.615.535.00 Cwh 14 H•nd. Ike PnMIM* Totsl IN.17 21W.42 1125JS5.0 Schedule - 2 PMfeAthul PA 154Ab15 Profexion41 Feuon pmixts yylbk for the yur 2023 7.454.39 1*of¢¥k)n*l Fffs proirfty p•y•ble for th¢ yw 2024 Ivmo Soluiioti VKI¢¥ VM Tuniiil Thp iOS.06 85.85 637.58 SS5.74 15.361.32 273.50 IVMO 2024 A¢¢ouniin8 F¢ G¢n¢r•l Admitithii¥¢ F¢u for •Mi¥¢ 3.2(K).00 /AVM INSTITUTE FOR THE ADVANCEMENT OF VEDIC MATHEMATICS Schedule - 3 Oeber ¢wrre•l ll•bMItI GBP Zoom Abxripiion- Ply￿￿ CJOO8le I￿r•S¢- p•y•ble ￿ J•mes 155.88 15.99 Schedule - 4 , GBP Op¢nin8 B•l•A¢e- l5-J￿-2J Add.. Bal￿¢¢ dyrini the y¢*r 2.043.18 168.83 Schedule ~ 5 IAVM- Caernl Fund B*knnt I￿•￿-15 GBP Op¢nin8 B•lgnc¢- 15-J•n-23 Add: Op￿ing cash balwK¢ for ronvqsion Add: r￿￿1p￿ ova p*ynMts 11.022.ty) (17.(ts1> (24.27> /AVM INSTITUTE FOR THE ADVANCEMENT OF VEDIC MATHEMATICS -2025 -2024 . 2023 . 2022 -2021 Amounl GBP Amounl GBP Amount GBP Amount GBP Amount GBP Recelpts OnllnÈ conferent Donatlons Membershlp Sale of i1￿￿5 Internatlonal Confereniy IVMO Certlflodons ProleLtr Baghdad Mastrrdass IIVMO Solutlon Vldeos 144.40 127.74 148.43 138.96 6,853.48 12.627.11 199.08 2S8.25 123.00 575.87 81.28 7.196.89 5.028.14 705.54 218.69 208.25 994.45 124.93 103.37 334.06 198.84 131.33 78.82 79.37 22.424.13 694.68 l.S25.31 150.16 183.24 376.S7 1.055.82 211.39 838.00 2S4.22 1.079.92 Kalkerf lebanon WorkshopslTrnlnln8 Pr(era Hlndu College MIT-Pune Tuni￿4 CCCU- Meerut Natlonal VMO (Dubal and Tunlsla) M15cellaneous Income Total Recel Is 563,00 145.99 S91.43 82S.59 86,10 30.18 796.97 171.00 107.31 473.25 7.43 140.82 24 978JO zi Payments Webslte Indudln8 IVMO 4.381.S8 155.88 15.99 20.219.05 1.69S.38 191.88 15.99 10.316.08 3.530.99 46.52 266.99 S6.39 1.163.18 187.24 15.99 8.829,06 3.690.70 113.84 ISS.90 15.99 1,160.30 909.85 14.39 15.99 520.00 Google Stora8e Professlonal Fees Internadonal Conferen￿ expendI￿re ISBN/ expendlture on printlng Bankthar8¢$ Mlscellaneousexpendlture 46.19 o.il 14.92 Total P ents 24 13 146023 Excmi of R•¢ A4B 14458 49S3.90 3rtOSXil 2.937.94 22&99 Notes: l. Capital fund provisions (e.g., membership funds) are not included in the above statement. 2. Consolidated figures are for reference only, using exchange rates as of January 15 each year. Therefore, cumulative amounts may not match year-end fund balances. For actual fund posiiions, refer to the financial statements of the respective year. /AVM PREPARED BY: Gowri Ramachandran Trustee - CFO