REGISTERED COMPANY NUMBER: 10612051 (En(Fland and Wales)
REGISTERED CHAIUTY NUMBER: 1172517
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST DECEMBER 2023
FOR
BRANDON HOUSE LIMITED

BRANDON HOUSE LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED i 1ST DECEMBER 202J
Page
Report of th¢ Trustees
Ito4
Report of the Independ¢nt Auditors
5t07
Statement of Financial Activities
Balance Sheet
Statement of Cash Flows
10
Notes to the Financial Statements
11 to 16

BRANDON HOUSE LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 ST DECEMBER 2023
The Tn]stees, who are also directors of the Charity for the purposes of the Companies Act 2006, present their report with
the financial statements of the Charity for the year ended 3 1st De¢eTnber 2023. The Trustees have adopted the provisions
of Accounting and Reporting by Chaiities.. Statement of Recommended Practice appl2eable to charities preparin(T their
accounts in accordance with the Financial Reportintr Standard applicable in the UK and Republic of Ireland {FRS 1021.
OBJECTJVES AND ACTIVITIES
Objectives and aims
The charitable cornpany's purposes, as set out in the Objects clause contained in the Company's Memorandum of
Association are..
l. to advance the Akshar Purushottam Swamin3rnyan denomination of the Hindu religion based upon the tettchEngs and
prin¢iples of Bhagwan sWa￿l￿ardyan', and to foster the practice and worship of the Akshar Purushottam Swaminartyan
denomination of the Hindu religion as revealed by Bhaqwan Swaminarayan,.
2. preserve and safeguard the health of all persons and in particular of young persons who are in dantter of becomints
addÈcted to or dependent upon illeval drllgs of any description, alcohol, solvents or other addictive substsnces.. advance
education for the public benefit,.
3. promote community participation in healthy recreation so as to develop participants, physical. mental and spiritual
capacities,. and
4. for those purposes without prejudice to the generality of the foretsoints to allow other charities having similar objects
to occupy any of its premises at nolninal or rnarket rent.
Our aim5 fully reflect the purposes that the Charity was set up to fijrther.
The Charity seeks to Tneet its aims and objectives by periodically donating surplus funds to other charities which prolnote
#nd deliverthe same aims and objectives such as Bochasanwasi Shri Akshar Purushottam SwamEnarayan Sanstha (BAPS)
or to its parent charity, Nilkanth Estates, who share the same aims and objectives.
Aehievements the year
Durino the vear, the Charity continued to receive rental income from the lettin(T of its industrial Lfftits and provided part
of its buildings at a peppercom rent for use by BAPS for its charitable purposes which are similar to those of the Charity.
The Chariry also purchased a new propety in the year. The sncome trenerated from letting this propety in ￿ture will
contribute to the ￿rther￿nce of Charity's airns and objectives.
Ensuring our work delivers our aims
We review our ailns, objectives and activities on a yearly basis. This review looks at what we achieved 2nd the outcomes
of our work in the current period and io continue the review on an onooino b￿ls. The review looks at the success of each
key a¢tivity and the benefits they have brought to those groups of people we are set up to help. The review also helps us
ensure our aitn, objectives and activities remain focused on our stated purposes. We have referred tts the tsuidance
contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in
planning our future activities. In particular. the Trustees WD5ider how planned activities will ¢ontrsbute to the aims and
objectives they have set.
Volunteers
Volunteers are an important resource for the Charity and are involved in all of our activities. The Trustees also give their
time freely.
Page I

BRANDON HOUSE LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 ST DECEMBER 2023
FINANCIAL REVIEW
Financial review
The Statement of Financial Activities (SOFA) shows net incoming and outgoing resources for the year.
During the year, the Charity had a net income before tsain on revaluation of investtnent properties of £440,657 (2022..
£7,550:963).
As at the balance sheet date, the Charity has net fvnds of £1 1,445,992 (2022.. £11,015.336).
The Trustees have assessed the going concern risks to the Charitable Company and have concluded that:
financial projections iDdicate that the Charity will continue to meei its liabilitie5 as they fall due over the next
twelve month5 from the date of approval of these financial statements.
The Charity'5 parent undertaking, Nilkanth Estates, has confirmed that if required, it will Tnake available such
nds as are needed by the Charitable Company for the period covered by the forecasts.
These forecasts 8re based on full rents resuming afterthe tempotary concession due to the pandemic, as well as the agreed
waiver of loan interest from l January 202J by Nilkanth Estate5 on its loan to the Charity. which Nilkanth Estates has
confirnied will not be repayable until at le￿l one year from 31 December 2023.
In light of the above. the Chariry does not believe there to be a rnateri21 uncertainty regarding its going concern.
Principal funding source5
The Charity's activities are mainly financed by fL]nds raised through rental income, voluntary donations and financial
support from its parenL Nilkanth Eststes.
Reserves poliey
The Trnstees review the Reserve Ptslicy annually. Their policy is to hold sufficient ¢￿h reserves to meet the operatin(p
costs of the Charitv which are rninimal and in respect of premises costs of the property used by BAPS for chaThtable
purposes. The charity held cash reserves of £622,5141?02?: £25 J,626). Surplus ￿ndS from donations and rental income
are accumulated and used for the ￿rthCranCe of the Charity's objectives.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Brandon House Limited is a reoistered charity (￿￿T￿ber 1172517) under the Charities Act 2011 and is a charitable
organisation incorporated in England on 9 February 2017 as a company limited by
ouarantee under Compally number
10612051.
The Charity is controlled by its ooverning document. Melnorandum and Afticles of Association.
Page 2

BRANDON HOUSE LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED JIST DECEMBER2023
REFERENCE AND ADMINISTRA TIVE DETAILS
Registered Company number
0612051 (England and Wales)
Registered Charity number
1172517
Registered offiee
104 College Road
HaTrow
HAI IBQ
Trustees
Mr K Bhattessa
Mr Y M Patel
tr J Patel
DrMRShah
Hotelier
cOTnp￿Y Director
Compkny Director
Doctor
There are five Trustees in post during the year, and four at the year-end. and they have responsibilitv for Tneetin(r the
obligations of the Charity.
All Trustees give their time voluntarily and receive no remuneration or benefits from the Charity. A5 the Trustees are the
key manageTnent personnel of the Charity and ale not remunerated. theie is no remuneration policy foi key manatrement
persorjnel.
Underthe requirements of the Articles ofAssociation of the Chatity, the current Trustees may appoint new and additional
Trustees: (subject to a maximurn of five Trustees at any time) by passing of a resolution at a Trustees, meeting. Eaeh
trustee shall hold office for an initial temi of three years. renewable by re-appointment for further terms of three years.
Existin(T Trustees may propose the appointment of new T￿￿tees. however. any such appoInt￿ent requires approval by
BAPS India.
Subject to article 20A, the Trustees may appoint new and additional T￿Stee$ by a resolution of the Trustees passed at a
Trustee meetints
These individuals work alongside existin(p Trllstees for a period of three years before being considered
for appointtnent. Onooin(T training is received by the Trustees tlm)uJo attendance at courses and being provided with
relevant Ènforniation from various re50ur¢es, as required.
Auditors
MHA
Sixth Floor
2 London Wall Place
London
EC2Y SAU
Page 3

BRANtX)N HOUSE LIMtTED
REPORT OF THEIRUSTEES
FOR THE YEAR ENDLD 31ST DECEMBER 2023
SrATEmR￿f OF TRU￿Es RESPOPISIBILITIES
The Trustees 2re ￿sts the director$of Brdndort Houqe Liniiled for Uiepurposes of company lawl 2re re5poThsible for
prepariogth¢ Reportefthe Tntskes and the fittancial statements its accordaneeivith applicablc law￿ UnitedKingdem
Accounting Standarts (Ullited Kingdom GctKMlly Accepted AccourttinE Pr&cti¢¢l.
Company law requirc5 ￿TnIst￿$ lo prepare fllmncial sratcmcllts foreac& finattcial yearwhichgive at￿tand fairview
ofthe stateofaff2irsofthe d)*itablecompany andof the trtcomitig resoure<% and appli¢alion ofr¢souwe4 includingihe
income ¥nd expenditurq ofthc clw£rablc company for th* wxiod. In prcparing those finattthal swementl the Trt￿LeeS
required to:
selectsuitsble 2tt0Untingpoli¢its and tbcn applythcmconsistently.
obxnr thc methods andprinciples in the Charity SORP.
2kt judsemcrtts and tstimates tha( are r￿onable and prudcni.,
preparethe fLnancial statemajtson Ihegoingr¢ttccm basi5 unle5S it 15 iwproprrdteio prwmetht thedwitable
comprtny %¥ill eontinue irt busille
The TnLStees arc rtsponsible for keeping adequate aCCo￿ntIng r￿OrdS whith th￿$05¢ with reasonable a¢cLTrCy at arty
time the fJn8ncial po$ition of the ￿￿table cemp8ny gjjd to enable them io ensure that the fInancial staiemet)ts coinply
Ivtth the Companies Act2006. Theyarea150 r¢5ponsiblt forsaftguarding tht ￿Sets ofthe ehariiable company and hent¢
for tsking re*wnable SLqJS for the prcvcntion and detection of frs]]d other iTregul8ritits.
In so far¥ the Trus(ee5 areaware:
therc is no rci¢v&nt autht infonnation ofivhich the ciwifable conwang$2udittsrs #re Utta￿a￿. artd
the Trustees h¥¥e taktt) all stcps that they ought to have taken ro make Ihems¢lv¢s aivwe ot any rtIevart audit
information to cstsblish that the auditors &¢awore ofthatitifotinatioTJ.
AUDrroRS
ThE auditor& MHK will b¢ pmw)sed for rt-appjifflment at the forthwrrying Annual Gerteral Meeting followittg their
apwintment duringd* year..
This reporth&5 beenWep￿Yd in accordan¢ewiththe spect21 provisiorA of Part IS ofth¢ Cornwitt Act 2006 rclatireto
stttail companie&
Approved by order ofth¢ ￿ard of Tnts on.
Si￿)ed tsn irs L%halfby:
Mr J M Pat¢l- Inslce
Page 4

B114NDON HOUSE LIMITED
REPORT OF THE tNDEPENDENT AUDITORS
FOR THE YEAR ENDED J l DECEMBER 2023
Opinio
We have audited the financial statements of Brandon House Limited (the 'charitable company'l for the year ended 31
December 20?3 which COTnprise the Statement of Financial Activities, the Balance Sheet, the Ststement of C￿h Flows
and notes to the financial statements, including a summary of sittnifIcant accounting policies. The financsal reportino
framework that h85 been applied in their preparat2on is applicable law and United Kingdom Accountintr Standard5.
includin(r Financial Reponing Standard 102 The Financial Reporting Standard applicable in the UK and Republic of
Ireland {United Kingdom Generally Accepted Accounting Practice).
In our opinion the financi21 statements-
give a true and fair view of the State of the charitable company's affasrs as at i l December 2023, and of its incoming
resources and application of resources, including its income and expenditure. for the year then ended-
have been properly prepared in accordance wth United Kingdom Generally Accepted Accounting Practice; and
have been prepored in accordance with the requirements of the Compa#ies Act 2006.
Basis for opinion
We conducted OUF audit in accordance with Intetnational Standards on Auditino (UK) (ISAS WK)) and applicable law.
Our responsibilities under those standards are fvrther described in the Auditor's Responsibilities for the audit of the
financial statements $￿tion of our report.
We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit
of the financial statements in the UK. includints the FRC'S Ethical Standard, and we have fulfilled our oiher ethical
responsibilEties in accordance with these requirements. We believe that the audit evidence we have obtained is suffi¢ienr
and appropriate to provide a b&%is for our opinion.
Conelusions relating to going eoneern
In auditints the financial statements. we have concluded that the Trn5tees' use of the (TOin(r concem basis of accountlDg in
the preparation ofthe financial statements is appropriate. Our evaluation of the Trustees, assessment of the entity's abllity
to continue to adopt the IToin(T concern basis of accounting included ¢riiical reviews of expected investment inc0￿e and
assurdnces provided bythe charitable company's parent company. Nilkanth Estates. to provide financial asssstance should
st becolne required.
Based on the work we have p¢rformed, we have not identified any material un¢ertainties relating to events or conditions
thai. individually or collectively, may cast sitsnificant doubt on the charitable company's ability to continue as a going
con¢ern for a period of at least twelve months from when th¢ financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to (roints concern are described in the relevant
sections of this report.
Other informatio
The Trustees are responsible for the other information. The other infomiation comprises the infortnation included in the
annual reporL other than the financsal statements and our auditor's report thereon. Our opinion on the financial
statements does not cover the other inforniation and, ex¢ept to the extent othenwise explicitly stated in our repor( we do
not express any forrn of assurance conclusion thereon.
In connection with our audit of the financial statements. our responsibility is to read the other infom)ation and, in doin(T
so. consider whether the other information is materially inconsistent with the financial statements Or our knowledge
obtained in the audit or otherwise appears to be materially rnis5tated. If we identify such material inconsistencies or
apparent material Tnisstatelnents. we are required to determine whethei there is a material tnisstaternent in the financial
siateTnenES or a material misstatement of the other information. If. based on the work we have perfomied, we conclude
that there is a rnaterial misstatement of this other infortnation, we are required to report that fact.
We have nothing to report in this regard.
Page 5

Opinions on other matters pre$crÈbed by the Companie5 Act 2006
In our opinion, b￿ed on the work undertaken in the Course of the audit..
the information given in the Tn]stees' report (incorporatintt the Directors. report) forthe financial year for which
the financial statements are prepared is con51Stent with the financial statements- and
the Trustees, report {incorpordting the Directors, report) has been prepared in accordance with applicable legal
requirements.
Matters on which w¢ are required to report bv exception
In the liJts t of our knowledge and understsndincr of the charitable company and its environrnent obtained in the course of
the audit. we have not identified material misstatements in the Dire¢tors' report.
We have nothing to repon in respect of the followints matters sn relation to which the Comp2nies Act 2006 requires us to
report to you if, in our opinion..
adequate accounting records have not been kepi or returns adequate for our audit have not been received from
blanches not Vlslted by us,. or
the financial statements are not in agreement with the accounting records and returns., or
certain disclosures of Directors, rernuneration specified by law are not made.. or
we have not received all the inforniation and explanations we require for our audit., or
the TTUStees were not entitled to prepare the financial statements in aecordance with the small companies, rets]￿e
and take advantarle of the small companEes' exemptions in preparints the Direetois, report and from the
requirement to prepare a strategic report.
Responsibilities of Trustees
As explained more fully in the Trustees. responsibilities statement included in the Trustees, Annual Report, the Trustees
(who are also the Directors of the charitable company for the purposes of company law) are responsible for the preparation
of the financial statelnents and for beino satisfied that they give a true and fair view, and for such internal control as the
Trustees detemine is necessary to enable the preparation of financial Statements that are free froln inaterial Tnisstatement.
whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to
continue as a going concern, disclosing, as applicable, matters related to goino concern and using the goincp concern ba51S
of accounting unless the Trustees either intend to liquidate the charitable ¢ornpany or to ce&se operations, or have no
realistic alternative but to do so.
Auditor's responsibilities for the audit of the rtnancial statements
Our objectives are to obtain reasoT)able assurance about whether the fInancial statements as a whole are fret from material
misstatemenL whether due to fraud or ¢rror, and to issue an auditor's report that includes our opinion. Reasonable
assurance is a hirwh level of assurance, but is not a guargntee that an audit conducted in accordance with ISA5 (UK) will
always detect a rnaterial misststement when it exists. MisstateTnent5 can arise from fraud or error and are considered
ITate. they could ieasonably be expe¢ttd to influence the economic decisions of
material if. individually or in the 4gre?
users taken on the basis of these financial statements.
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We desitrn procedures in line
with our responsibilities, outlined above, to detect material misstatements in respect of irreryularities, including fraud. The
specific procedures for this eno
trement and the extent to wh2ch these are capable of detecting irregularities, includin(T
fraud is detailed below..
Enquiry of those charoed with governance concernints any instances of known or suspected instances of fraud-
Enquiry of those char(Ted with oovernance concerning acknal and potential lititsation and claim5.
Enquiry of those charged with governance concerning any instances of non-compliance with laws and
regulations-
Reviewing the control systerns in place and testino the effectiveness of the controls.,
performin￿ audit work overthe risk of management ove￿Ide of controls, includino testing of journal ¢ntri¢s and
Page 6

other adjustsnents for appropriateness=
Evaluating the business rationale of significant transactions outside the nornial course of business and reviewin(r
accounting estimates for bi&s.
Reviewin￿ minutes of TneetlFilT5 of those charged with governance:
Reviewinu financial statement disclosures and testing to supporting documentation to assess COEnplian¢e with
applicable laws and regulations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irteoularitie5. including those
leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the
more that compliance with a law or ietsulation is removed from the events and trdnsactions reflected in the financial
statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater reoardino
jrreoularities occurrints due to fraud rather than error, &s fraud involves intentional concealmenL forg¢ry. collusion.
omission or misrepresentstion.
A funher description of our responsibilities for the audit of the financial stateTnents is located on the Financial Reporting
Council's website at." https../lwww.frc.org.uklOur-Work]AudiUAudit-and-assurancdStandards-and-guidancelStandards-
and-guidance-f0i-auditor￿Audlt0rS-respon51bIlit1e5-fOr-audluDescrlpt10n-of-aud1t0FS-reSponSibl11t1e$-fOr-audit.aspx.
This description fornis part of our auditor's report.
Use of thi5 report
This report is made solely to the charitable colnpany's members, as a body, in accordance with Chapter 3 of Part 16 of
the Companies Aci?006. Our audit work been undertaken so that we mitsht state to the charitable company's members
those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent
pennitted by law, we do not accept or assume responsibility to anyone other than the charirable company and the
oharitable company's member5 as a body, for our audit work, for this repor¢ or for the opinions we have fornied.
£AL A71
Sudhir Singh FCA (Senior Statutory Auditor)
For and on behalf of MHA. Statutory Auditor
London, United Kinodom
Date= 30 September 2024
MHA is the tradints name of MacJntyre Hudson LLP: a limited liability partnership in England and Wale5 (retsistered
number OC3123 IJ)
Page 7

BRANDON HOUSE LIMITED
STATEMENT OF FtNANCIAL ACTIVITIES (incorporating an Income and Expenditure account)
FOR THEYEAREFIDED 31ST DECEMBER2023
?023
Unr¢stri¢ted
funds
2022
Total
Funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and letsacieg
Investment income
7 ?00.000
J99 999
523.984
Totsl
523.984
7 599.999
EXPENDITURE ON
Raisino fund5
83J28
49.037
Totgl
83J28
NET INCOMEI (EXPENDITURE)
440,657
7,550.963
RECONCILIATION OF FUNDS
Tot21 funds brought forward
11015J36
3 464 i73
TOTAL FUNDS CARIUED FORWARD
The notes for￿ part of these financial statements
Page 8

BRANDON HOUSE LIMITED
Registered Company Number: 10612051
BALANCE SHEET
AT 31ST DECEMBER 2023
2023
Unrestricted
funds
2022
Total
Fund5
Notes
FtXED ASSETS
Tangli )le assets
Inv¢sttnent properties
Mixed use assetsl InY¢stment property
1.647,760
6,￿19
10,000.000
17 657 642
1.671,840
6.001,956
17
CURRENT ASSEIS
D¢btors
at bank
io
186.069
622
1,385J03
808083
1.638.Y29
CREDITORS
Amounts falliDg due within one year
196.m)
{84.138)
P4rr CURREprr ASSETS
711.601
TOTAL ￿ETs LFSS CURREr
LIABILMES
J8J69343
19228,587
CREDm)RS
Amounts fa]lin8 due after tnore than one year
12
(6,913351) 18213251)
NET LIABILrriLS
11.015
114W92 a36
FUNDS
Unrestri¢trd funds
13
li
IIOl5336
TOTAL FUNDS
li
1015.336
These fiTran¢1￿ ststEm¢nts have bc¢* prepar¢d in a¢¢ordan¢¢ with the proYision5 applicable to Eharitable companie5
subject to the small Comp￿leS ]rgine.
Th¢ fllL8n¢i81 stat¢metLts w¢¥e approved by the Board of Trustee5 On.
b¢half by:
. and were sigoed on its
2.1.....J?k. ￿1{*
The Dotes fornJ part of these fmancial swements
Page 9

BRANDON HOUSE LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 ST DECEMBER 2023
2023
2022
Notes
Cash flows from operating activities:
Cash oenerated froTn operations
16
376.814
5,877.195
Net eash provided by (used in) operating
activities
376,814
5 877,195
Cash tlow from investing activities:
Purchase of investment property
(7,926)
(6,001.956)
Net Cash provided by (used in) investing
aetivities
6001956
Change in cash and cash equivalent5 in the
reporting perÈod
368,888
(124,761)
Cash and cash equivalents at the beginning of
the reporting period
253,626
378.387
Cash and Cash equivalents at the elld of the
reporting period
622,514
253,626
ANALYSIS OF CHANGES IN NET DEBT
A5at31
December
Asatol
January 2023
Cash flows
Cash at bank and in hand
Debt due after one year
25J.626
(8.21i,2511
368,888
1.300,000
622,514
(6,913,251)
(7,959,625
1,668,888
6,290,737)
The notes fomi part of these fin8ncial statements
Page 10

BRANDON HOUSE LIMITED
NOTES TO THE FtNANCIAL STATEMENTS
FOR THE YEAR ENDED 31 ST DECEMBER 2023
ACCOUNTING POLICIES
Basi5 of prep3ring the fin2nct21 statements
The financial statements of the charitable coTnp8ny, which is a public benefit entity under FRS I O? have been
prepared in accoidance with the Charities SORP IFRS 102) 'Accountin.
(T and Reportin(Y by Charitie5.' Statement
of Recommended Practice applicable to charities preparints their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021, Financial Reporting Standard 102
'The Financial Reportints Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006.
The fInaneial statements have been prepared under the historical cost conventson, Is modified by the revaluation
of cenain assets.
Going Coneern
The Charitsble Company had net fi]nds amounting to £1 1,445.992 (2022.. £11,015,J36) at year-end. The Trustees
have assessed the going concern risks to the Charitable CoTrpany and have concluded that=
financial projection5 indicate that the Charity will continue to meet its liabilities as they fall due over the
next twelve months from the date of approval of these financial statements.
The Charity's parent undertakincF
Nilkanth Estates, has confimied that if required, it will Tnake available
such fimds are needed by the Charittble Company for the period covered by the forecasts.
These forecasts are based on ￿11 rents resurnints after the temporary con¢ession due to the pandemic. as well as
the agreed waiver of loan interest from l January 202J by Nilkanth Estates on its loan to the Chaiity. which
Nilkanth Estates confmed will not be repayable until at least one year from J l December 20?3.
In light of the above. the Charity does not believe there to be a material uncertainty regarding its tsoints concern.
Ineome
All income ss recogni5ed in the Statement of Financial Activities once the Charity has entitlement to the funds, it
is probable that the incorne will be received and the amount can be me￿Ured reliably.
Rental Income
Rental incolne from operating leases (net of any incentives given to the lessees) is recO￿lSed on a straight-line
basis over the lease tem].
Expenditure
Liabilities are recO￿lSed as exptnditure as soon as there is 2 le￿1 or construcllve obligation committing the
Chariry to thar expenditure. it is piobable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure i5 accounted for on an a¢crua15 basi5 and has
been classified under headtngs that atsoreoate all cost related to the category. Where costs cannot be directly
attributed to particular headin.
s they have been allocated to activsties on a basi5 COIIS15tent with the use of
resources.
Tangible Fixed assets
Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to
attivities on the basi5 of the use of the related assets in those activitie5. Assets are reviewed for impairnlent if
circumstances indicate their Carrying value ￿aY exceed their net realisable value and value in use.
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value
over its expected use￿1 life. The depreciation rates in use are ￿ follows..
Freehold buildings= 20/0 on cost
Freehold land is not depreciated.
Page 11

BRANDON HOUSE LIMITED
NOTES TO THE FfNANCIAL STATEMENTS - CONTtNUED
FOR THE YEAR ENDED 31ST DECEMBER2023
ACCOUNTING POLICIES- continued
Mixed Use Assets
Propety held for a Combination of financial return and contribution to the Charity's purposes is classified as
mixed use assets.
Under FRS102 and Charity SORP, the elelnent of the assei held for financial ret[￿ requires revaluation at year-
end fair value.
Taxation
The CharEty is exempt from corporation tax on its charitable activities.
Accounting estimates and judgements
Jn the application of the Charity's accounting policies. the Trustees are required to make judtrements, estiTnatt5
and assumptions about the carrying amount of assers and liabilitie5 that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experience and other factors that are
Considered to be relevant. Actual results may differ from these estimate5. The estimares and underlying
assumptions are reviewed on an on¢roino basis. Revisions to accountints estimates are recotsnised in the period to
which they relate.
Covid-19 ha5 had no iinpact on any accounting estimates and judgeTnents.
Mixed Use Assets
A mixed-use asset is an asset held to tsenerate a financial return and which also contributes to the Charity's
purposes. The Chaiity's Brandon House properpi represenrs a mixed-use asset. The element of the asset deemed
to be held for fInancial retum is accounted for as an investment and measured at fair value at the reportino date:
the Trustees have reviewed the fair value of this element at the year-end. in line with SOIiP requirements. and do
not believe it to have materially changed since its revaluation on J l December 20?0. The element of the asset
deemed to be held to contribute io the Charity'5 purposes is accounted for ￿ a ianrwible fixed assei and measured
at cost less depreciation. The Trustees have used floor area as the basis for estimating the proportions of the asset
accounted for as an investtnent and a tantrible fixed ￿se1.
Fund aceountin
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the Charity. Restrictions
arise when specified by the donor or when ￿ndS are rdised for particular restricted purposes.
Coneessionary loans
Loans which have been taken out with an interest rate below the market rate and for charitable purposes are
deemed as concessionary loans.
Further explanation of the nature and purp05e of each ￿nd is included in the notes to the financial statements.
DO]YATIONS AND LEGACIES
2023
2022
Donations
7.200,000
INVESTMENT INCOME
2023
2022
Rents received
Pag¢ 12

BRANDON HOUSE LIMITED
NOTES TO THE FtNANCIAL STATEMEwfs- CONTINUED
FOR THE YEAR ENDED i I ST DECEMBER 2023
114ISING FUNDS
InveSt￿ellt management costs
2023
?02?
Rates
Insurance
Bank chartses
Sundries
Electricity
Depreciation
Professional fees
Interest paid
(1,524)
9,719
95
13
17,517
24,080
33,374
54
i,657
15
16,675
24,080
5.758
83,328
NET INCOME/{EXPENDITURE)
Net incomel(expenditure) is ststed after charginJo (credititt
2023
2022
Auditors, remuneration
4,800
4,200
ANALYSIS OF STAFF COSTS, TRUSTEES, REMUNERATION AND BENEFITS
The Charity is managed and operated by its Trustees and there are no eTnployees.
All Trustees give their time voluntarily and receive no reTnuneration or benefits from the Charity.
There were no Trustees. expenses paid for the year ended 31st December 2023 nor for the year ended
3 1st December 2022.
Page 13

BIiANDON HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED
FOR THE YEAR EFIDED 31 ST DECEMBER 2023
TANCIBLE FIXED ASSETS
Freehold
buildings
Cost
At I si January 2023
1,720,000
At 31" Decernber 2023
De
reeiation
At I" January ?02J
Charge for the year
48,160
24,080
At 31° December 2023
Net Book Values:
At 15l Janvarv 2023
At 31. December 2023
INVESTMENT PROPERTY
FAIR VALUE
At I" January 2023
Additions
6,001.956
7,926
At 31° December 2023
MIXED USE ASSETI INVESTMENT PROPERTY
FAIR VALUE
At 1st January ?023
10.000,000
At 31" December 2023
In line with financial reporting requirements. and at the year-end. the Trustees have re￿ewed the fair value of the
element of the Charity's Brandon House property which is used for investment purpose5. They do not belteve it
to have materially changed in fair value since its revaluation on 31 December 2020 which used an inlomal
valuation from a RICS-accredited property advisor, and trustee consideration of then current market factors.
Patse 14

BRANDON HOUSE LIMITED
NOTES TO THE FtNANCIAL STATEMENTS- CObtTtNUED
FOR THE YEAR ENDED i 1ST DECEMBER 2023
io.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
Trade debtr)rs
Other debtor5
VAT recoverdble
19,768
166,301
19,002
166,301
1,200.000
186,069
1 385.JOi
CREDITORS: AMOUNTS FALLING DUE WITHIF4 ONE YEAR
2023
2022
Trade creditors
Other creditors
Accrued expenses
VAT payable
10,074
82,033
4,800
76
12.462
67.056
4,620
96.983
84.138
12.
CREDITORS: AMouNfs FALLJNG DUE AFTER MORE THAN ONE YEAR
2023
2022
Con¢essionary Loans
6,913251
8.21),251
The Charity's parent charity, Nilkanth Estates, provided a loan to the Charity of £8 ?01.Ji l in 2017 for the
purchase of the Charity's Brandon House propertv and to further both entities, charitable objectives.
The loan: incurred interest at 3 /0 per annum until 31 December 2020 after which the loan became interest free,. is
secured against the propery. is repayable on demand, though the parent charity has provided assurances that it
will not be repayable until at least one year from 3 1 Decetnber 2023. Nilkanth Estaies hag agreed to waive interest
charges on its loan to the Charity since the premises are used for charitable purposes.
13.
MOVEMENT IN FUNDS
Unrestrieted funds
2023
2022
At start of the year
Incolning resources
Resources expended
I I,OliJ36
523,984
{83,328}
3,464.i7J
7.599.999
(49.036)
At end of the year
Page 15

BRANDON HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS- CONTtNUED
FOR THE YEAR ENDED 3 1ST DECEMBER 2023
14L
RELATED PARTY DISCLOSURES
As detailed in Nore l? the Charity has a coneessionary loan with its ultimate controlling paty Nilkanth Estate5
(see Note 151. Movements in th¢ outstanding balance of the loan are detailed in the below table.
2023
2022
Loan principal
Interest accrllals of earlier periods
Cumulative Loan repayment
8,271 J31
941,920
2JOO,000)
8.271,i31
941.9?0
,000,0001
Balance payable to Nilkanth Estaies
6,913.251
8,213 ?51
Brandon House Limited received unrestricted donations of £Nil (2022= £7.2m) from Sarjuda5 Foundation during
the yeai. Brandon House Limited and sarJUd￿ Foundation have a trustee in common.
15.
ULTJMATE CONTROLLING PARTY
The companv is a cornpany limited bv guarantee and the sole guarantor is Nilkanth Estates (Reg. Charity
no.11484i l). The latter is incorporated and registered in England & Wales.
Consolidated financial ststements otNilkanth Estates are available online at the Companies House website.
16.
RECONCILIATION OF NET INCOMEI(EXPENDITURE) TO NET CASH FLOW FROM OPERATING
ACTIVITIES
2023
2022
Net incomeJ(expenditure) for the reporting period (as per the ststement
of financi31 activitie5)
Adjustments for:
Depreciation
Ilncrease)mecrwe in debtors
IDecrease)llncr&gse in creditors
440,657
7,550,963
24,080
1,199,232
(1,287,155
?4.080
(1.202.56?)
495,286)
Net cash provided by operating aetivities
376,814
5.877.195
Page 16