The Karta Initiative Annual Report and Accounts April 1 st 2023 - March 31 st 2024 The notes (ffi pago$ 9 to 13 forni part of thgse accounts.
Table of Contents 1. Legal and Administrative Details 2. THE STRATEGIC REPORT a. About us b. Our work c. Objectives d. Milestones Strategy Plan 2024 to 2030 3. Organisation and Governance 4. Financial Review 5. Independent Examiner's Report The notes on pages 9 to 13 forni part of thesg accounts.
LEGAL AND ADMINISTRATIVE DETAILS The note8 on pag•s 9 to 13 form part of these accounts.
LEGAL AND ADMINISTRATIVE DETAILS Our Organisation: The Karta Inrtiative is a Charilable Incorporated Organisation (CIO), governed according to the constitution dated 12th May 2017. The CIO is a small independent charity and not part of any umbrella body. CIO Reglstered Charity Number: 1173020 Board of Trustees (at end Mah 2024)." Vibhav Nuwal {Chair}, Ajay Bahl, Andrew Nott, Stephen Tall and Robin Ogle Independent Examiners: A Churchill Stone Bankers: Santander UK plc Solicitors- Slaughter & May Work in India: Karta 15 a global initiative, with the core team working across the UK and India. Karta's team in India is incubated within the Tata Trusts. A Charitable Company under Section 8 oflhe Companies Act in India was established, through which tax efficient donations can be received. Presontatlon of ReporL' The Financial Statements have been prepared in accordance with stslutory requirements, the Charities Act 2011, the charity's constitution and the Accounting and Reporting by Charities.. Statement of Recommended Practice {SORPI applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 issued in October 20191 Publlc benefft: The Tnjstees continue to observe the Charity Commission's guidanc8 on public benefit when reviewing objectives, aims and activities. It is the Trustees, view that Karta benefits the public by unlocking personal, economic and societal potential in young people. The notes on pages 9 to 13 fomi part of these accounts.
THE STRATEGIC REPORT The notes on pages 9 to 13 fomi part of these accounts.
About Us The Karta Initiative is a registered charity based out of the UK that exists to address significant disparities in access to education, 21 st century skill development, employment ané entrepreneurship opportunities for young people in the Global South, with a particular focus on girls and young women from marginalised Communities A world where young people from marginalis8d Gommunities, especially in the Global South, achieve educational and workplace equality, transforming not only their lives but also their communities breaking the intergenerational Cycle of marginalisation By 2030. The Karta Initiative aims to empower 1 million young people in the Global South through innovative, lechQriven and scalable interventions that enhance their skills, higher education, and employment opportunities, making them change leaders to transform their communities and lives. Karta was established in 2016 with a mission to bridge the gap bebNeen global opportunities and underserved youth in rural communities. Over the years, we have evolved into a dynamic and inclusive movement, driving transformative impact through education. skills development, and access to meaningful opportuntties. Key milestones in our joumey indude.. Supported 260 scholars through the Karta Scholar Program, helping them secure admissions to premier universities globally and providing a robust mentorship network. Many have Suc$$fullY graduated and are ready to drive meaningful change in their communth'es. Achieving a stable financial foundation, enabling sustained impact and long-term growth. Fostering robust partnerships with governments, universities, global corporations, stsrt-ups, foundations, nonprofits, and individuals who align with our vision. Assembling a diverse and talented team of committed employees, trustees, and advisors, all united by their passion for Karta's mission. Initiating our scaling journey, leveraging innovative technologies to reach and support thousands of students globally. 'J..io we woirf Vliiki At Karta, we work with students from rural and low-income communities in India who exhibit immense potential, often achieving academic outcomes comparable to their privately educated, Usan peers. However, systemic barriers prevent these students from accessing opportunrties to fulfill their aspirations. These challenges include.. Economic Hardships: Families often survive on an annual household income ranging from GBP 1,000 to GBP 5,000. Many are small and marginal farmers, migrant workers, or landless farm laborers. Limited Guidanee: Poor understanding of pathways to higher education or careers. Digital Divide: Limited or no ac$5 to laptops and reliable internet connections at home. Lack of Exposure: Minimal networks and internship opportunities that could bridge the gap to future employment. Skill Gaps: Lirnited fluency in English, digital literacy, and essential 21 strycentury skills like critical thinking and problem-solving. The notes on pages 9 to 13 fomi part of these accounts.
Our students primarily come from highly marginalized Gommunities: 80% belong to vulnerable rural communities. 50% are firsteneratIon18arners. Many face additional challenges, including.. Families burdened with high debt levels or chronic illness. Living in disaster-prone areas affected by floods, droughts, or cyclones. Supporting single-parent households or families with members who have disabilities. Through tailored programs. we work to dismantle these balers, equipping young people with the skills, mentorship, and resources needed to unlock their potential and transform their lives. we are We are a dynamic and energetic global movement, driven by a dedicated core team, active trustees, and passionate volunteers-all unrted by a shared commitment to Karta's mission. Our strength lies in our diverse and inclusive community of partners and advisors. This network includes mis5ion-aligned NGOS, orporations, govemment entities, and individuals from various industries who support, guide, and empower our efforts to Greate meaningful impact. The notes on pages 9 to 13 form part of thaso accounts.
Our work We begin working with young people when they tum 15, as they start thinking about their fuiure. We guide them through this important stage, helping them explore and make the most of opportunities after school. Our support doesn't stop there-we continue to assist exceptional students as they pursue higher education at top universities worldwide through our scholarship program. Olir ProcJraiYiiios Karta Catalyst Scholarships.. Offering lrfe-changing opportunities for talented and dedicated students, en8bling them to access wortd-Glass eduGation and become leaders of change in their communrfies. Karta Access Program.. Empowering thousands of young people to transition from school to university by pmviding 21st-Gentury skills. car8er guidanc8, and mentorship to help them succeed in their educational and careerjoumeys. Karta Connect." A digital platfom7 designed to support students with valuable resources, skill- building tools, and mentorship opportunities. It foslers regular engagement, provides updated content, and introduces interactive features to ensure students stay motivated and supported throughoul theirjoumey. Our Impact Areas All our programs focus on fiv8 key areas. building workplace skills, preparing for careers. accessing wortd-class higher education, gaining workplace experien. and fostèring communty leadership. Fivo Ways We Make a Differenc8 1. 21st-Century Skills.. We help students develop essential skills like critical thinking, problem- solving, English fluency, and digital literacy. 2. Career Readiness= We provide mentoring to boost confidence and help students explore different career paths. 3. Higher Education A¢sS. We guide students in applying to top universities woddwide and offer scholarship support 4. Workplace Exposure: We connect students with leading employers to gain valuable work experience and career readiness. 5. Community Leadership.. We encourage students to support each other and make a positive impact in their communities. The notes on pages 9 to 13 form part of thgse accounts.
Objectives April 2023 - March 2024 Karta scholars Ensure a smooth transition to university for newly selected scholars. Strengthen employability pathways by building long-temi industry partnerships for intemships and work experience. Explore partnerships with leading Indian and International universities to expand opportunities for scholars. Develop innovative ways for Karta Scholars to contribute remotely to program delivery Enhance peer-to-peer support wthin the Scholar community to enable collaboration and shared learning. Facilitate deeper mentoring relalionships between Karta Scholars and Karta mentors, ensuring meaningful guidan and support. Access Programme Develop 21st-Century Skills.. Equip students with critical skills like critical thinking, cr8alivity, ¢0118boration, and communication to prepare them for the modern workforce. Promote STEM Education.. Enhance students, proficiency in Scien, Technology, Engineering, and Mathemati¢s to support their current studies and readiness for advanced education. Provide Career Guidance and University Readiness: Deliver comprehensive career counselling and university preparation to ensure students are well*quipped for higher education opportunities. Foster Family and School Engagement.. Engage educators and families to create a supportive environment that motivates and encourages students, academic and personal growth. Implement Mentorship Programs.. Connect students with experienced professionals and educators through mentorship opportunities to provide guidance, support, and inspiration throughout their educational journey. Karta Connect Expand the use of the Karta Connect app across the Navodaya Vidyalaya Samiti (NVS) student body, ensuring more students can benefit from its resources and features. Introduce new features and regularly update the app with additional learning materials, tools, and careef guidan reSoUrS to better support students, needs. Further develop and scale pilot programs for mentoring and skill- building, leveraging the app to connect students with mentors effectively. Foster regular engagement with students through interactive features, updates. and notifications to encourage consistent usage and maximize impact. Thg notss on pages 9 to 13 fomi part of these accounts.
Organisation Recruit and onboard a dedicated Fundraising Director to lead fundraising efforts and secure resources for future growth. Actively engage in visibility initiatives and partnership-building to in¢rease Karta's reach and strengthen collaboration with mission-aligned stakeholders. Grow the trustee board and advisory team to include a broader range of expertise, ensuring robust governance and guidance for Karta's mission. The notes on pages 9 to 13 forn) part of thos9 accounts.
Achievements April 2023 - March 2024 Karta Scholars Supported 260 scholars globally through the Karta Access Program. helping them secure admissions to premier universities and providing a robust mentorship neork. Many scholars have graduated and are now leading impacfful changes in their communities. Facilitaled handSn internships for 150 youth with leading organizations such as the Royal Bank of Canada, TRENT, and JP Morgan, covering sectors like technology, media, business, and nonprofits. Strengthened partnerships with prestigious institutions globally, including.. India: Flame Universty, Ashoka University. KREA University, Plaksha University, and Ahmedabad University. UK: Oxford University. Cambridge UnNersty. University College London IUCL), University of Edinburgh, and University of Bristol. Canada: Queen's University, McGill University, University of Toronto, and Westem Universrty. Access Programme Through Karta's Access Programs, thousands of young people have transitioned from school to university equipped with 21st- century skills, career guidance, and mentorship. In 2023-2024, hundreds of students were supported under this initiative. Karta Connect SGaled the use of th8 Karta Connect app among Students, enhancing leaming and resource a¢cessibility. Introduced new features and resources to engage students and provide seamless transrtions beeen at-home and in-school usage. Conducted regular mentorship and skill delivery pilots, reaching more students across the Navodaya Vidyalaya Samiti (NVSI system. Organisation Onboarded a Fundraising Director to lead efforts in securing resources for long-term growth. Actively engaged in visibility initiatives and fomed strategic partnerships to amplify Karta's impact. Grew the advisory team, enhancing govemance and expertise to drive Karta's mission forward. The notos on pages 9 to 13 form part of thosg accounts.
Strategy Plan 2024 to 2030 The Karta Initiative aims to create lasting Ghange for marginalized youth in the Global South by addressing disparities in education. skills, and opportunities. Over the next six years, we will focus on scalable models, collaborations, and impactful pathways to equality. Key Priorities of Focus Areas Imparting 21st Century Skills for Young People Access to qualrty higher Education Promoting Meaningful Employment Promoting entpreneurShlp to address the challenges of marginalised Gommunities Our Objectives Equip marginalized youth with 21 st-century skills like critical thinking, digital literacy, and problem- solving to succeed in higher education ané careers. Improve access to higher education through scholarships, mentorship, and partnerships with global institutions. Strengthen long-tenn mentorship mechanisms to build nelworks, workplace exposure. and social ¢apital. Facilrtatè employmenl. self*mployment, and entrepreneurship opportunities align8d with youth aspiralions, in collaboration with industry partners. Empower young leaders to drive social change, transforming their lives and uplifting their communities. TarcJet Group & Locations We focus on youth aged 14 to 25 from marginalized communities, wilh a special emphasis on gids and young women, across India, Nepal, South Africa, and Latin America. Strategies to Achieve Our Mission Provide scholarships and mentorship to talented youth from marginalized communities, supporting higher education and career growth. Assist young people in launGhing enterprises through financial support and reSoUs. Collaborate with nonprofits to develop and scale innovative models in the Global South. Facilitate knowledge exchange and build capacty for stakeholders improving education and employment access. Create an intemational online platfonn connecting youth to education, skills, and employment opportunities. Long-Term Goals (By 20301 Sklll Development: Equip 1 million youth with 21st-century skn'lls for education and career success. Higher Education Access: Enable 100,000 youth to a¢sS quality higher education through scholarships and mentorship. Employment and Entrepreneurshlp: Create 100,000 job and self-employment opportunities aligned with aspirations. Leadership Developrnont: Empower 50,000 young leaders to drive social Change in their communities. The note$ on pages 9 to 13 form part ol these accounts.
ORGANISATION AND GOVERNANCE The notss on pages 9 to 13 form part of thes• a¢¢ounts.
Team Structure and As of March 31st, 2024, the core team included a Board of 5 Recruitment members, 2 staff members, and additional support from advisors and volunteers. Together, they bring diverse expertise and a shared commitment to Karta's mission. ReGruilment focuses on finding individuals who align with Karta's values and are passionate about empowering marginalized youth, ensuring eXllen in every aspect of our work. Governance The Karta Initiative is a Charitable Incorporated Organisation. It is govemed by its founding constitution. The charity is govemed by a Board of Trustees. For the period April 2023- March 2024, the charty Trustees are as follows.. Vibhav Nuwal, Chair Ajay Bahl, VI Chair Andrew Nott Stephen Tall Robin Ogle Trustees typically serve a tenure of three years. The Board ontinuously evolves to incorporate new skills and expertise, ensuring the charitls objectives and priorities are effectively met. Core Team & Trustees On an ongoing basis, Trustees and the CO team work closely. This is anchored by a quarterly Trustee-Team call, covering updates against key Work$tarnS, priorities for the week ahead, risks (and mitigating actions), and actions required from Trustees. Additionally, half yearly meetings are held to review progress, refine strategies, and address long-term goals, ensuring the organisation remains on track to achieve ts mission. Data Protection The Core Team and Trustees ensure that all the charity's procedures and data handling are fully compliant with General Data Protection Regulation {GDPR) laws. The Karta Initiative does not share data with third parties for marketing purposes. Individuals or organizations are encouraged to notfy us if they prefer not to receive The notes on pagos 9 to 13 forrn part of these accounts.
communications, and their details will be promptly removed from our systems. The charity MaInS committed to adopting best practices and implementing data prote¢tion measures that are modem, effective, and appropriate for the size and stage of its operations. Commitment to equal opportunity, ethical affairs and environmental standards Social responsibility is ontral to Karta's work. The organisation is deeply committed to equity. equality, and diversity, whi¢h are reflected in its recruttment pra¢ti¢es and day-toaY operations. Karta prioritizes resource efficiency and seeks to rninimize environmental impact by adopting frugal practices in the use of physical resources and lirniting air travel. As the organisation grows, it remains focused on exploring innovative approaches to maintain a low carbon footprint while delivering impaGfful programs. Fundraising and Spending In the period April 2023 - March 2024, the charity successfully raised £111,110 from individuals and institutions (previous period. £128,484., this excludes all in-kind donations reived. Student contrtbutions were £950 (previous period.. £870). The charity used these funds to undertake its charitable activities, incurring fundraising costs of £- (previous period.. £8,317) and direct charitable costs of £99,051 (previous period.. £214,605). Included within charitable costs are governance costs of £2,908 (previous period= £4,972) Funds in hand at the year-end amounted to £593,250, of which £259,187 are restricted. Reserve policy The Karta Initiative holds reserves those funds that are available to spend because they are not endowments, not stricted, not tied up in fixed assets and not otheThvise designated. The Trustees are to review the reserve policy each year. The Trustees aim to hold reserves to SLrfficiently cover operating costs for a period of six rnonths, to mitigate any major risks the charity could face. The Trustees are mindful that the charity's future operations will necessitate significant investment. The current reserve levels will help, but the Trustees are aware of the continued need to grow donations to meet the charty's long-term objectives. The noteg on page8 9 to 13 form part of these accounts.
The Trustees believe that there are no material cOnrnS about Karta's ability to continue its activities over the next twelve months. All financial statements are quoted in £ steTling. Trustee appointmen( induGtion and training The Board of Trustees oversee appointments, ensuring candidates bring the neSSary skills and experience to effectively govern the charity. New Trustees receive an induction package. including the constilLrtion. annual reports, and other relevant materials to familiarize them with the organisation's rnission and operations. Ongoing guidance and advice are provided as needed to support Trustees in fulfilling their responsibilities. This report was approved by the Trustees on 30 January 2025. and signed on its beha by Vibhav Nuwal Chair and Trustee Thè note8 on pages 9 to 13 forni part of these accounts.
The Karta Initiativè Slatem•nt of Financial Activities for the period •ndod 31st March 2024 2024 Total 2023 Total Note Unro$trictsd Designated Rostrictod In¢omo from Grants and dcnations Investments 10 5,951 110.950 110,960 5,951 131,854 1,313 Total income 5,961 110,950 116,911 133,167 Exp•nditure on Charitable activities Raising funds 30,833 68,218 99,051 214,605 8,317 30,833 68,218 99,051 222,922 Net income 5,961 130,8331 42.732 17,680 {89,7551 Transfer beeeft fvnds Net movements in funds 5,961 130,8331 42,732 17,680 189,7551 Reconciliation of fvnds Totsl fvnds brought forward 86,455 272,480 216,455 575,390 665,145 Total funds tarried forward 92,416 241,647 259,187 593,250 575,390 The ststement of financial activf(ies includes all gains and losse$ COgnised in the p8rTod. All income and expenditure derive from continuing activities. The Trotes on pages g to 13 form part of these aecounts.
The Karta Initlativ• Balance Sheet as at 31st March 2024 2024 Total 2023 Total Note Unre8tr1cted Designatod Rèstricted Current Assets Cash at bank and in hand Debtors 83.506 8.910 243,390 259,187 586,083 8,910 567,288 9,475 10 92.416 243,390 259,187 594,993 576,763 Llabllltl8S Creditors." amounts falling due within one year 11 11,7341 11,7341 {1,3731 Nel Assets 92,416 241,647 259,187 593,250 575.390 Funds Unrestricted Designated Restricted 92,416 92.416 241,647 259,187 86,454 272,481 216,455 12 13 241,e47 259,187 92,416 241,647 259,187 593,250 575.390 The accounts were approved by the Trustees on 30 January 2025. Vibhav Nuwal Chair of Trust•o8 18
The Karta Iniliative Notes to the Accounts for the perlod endod 31st March 2024 Basls of preparatjon The charty conslitules a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounts'ng and Reporting by CharitEs'. Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland IFRS 1021 issued in OGlober 2019, the Charities Act 2011. UK Generally Accepted Practice and the charity's governin9 doGumenl. b) The accounts are drawn up under the historical cost convenb'on. Significant accounting policies applied in the preparation of these financial ststemen15 are set out below. These policies have been consi51ently applied lo all years present unless otherwise staled. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1. The Charity 15 a charitsble institution with exempts'on from taxation under seth'on 505 of the Income and Corporation Taxes Act 1988. dl The Charity is exempt from the requirement to prepare a cash flow $tstemenl. The a¢¢ounts have been prepared on the going concern basis as at the time of approving these accounts the Trustees have a reasonable expectation that the charity has adequate resources to conb'nue in operational existence for the foreseeable future. Accountlng policies Allocation of costs to rgsources expendod Specific rtems of expenditure are attributed to the appropriate category, of., Cost of raising funds. These are the costs associated with generating voluntsry incoming resources from all sources other than undertaking tharitable activities. Charitable a¢b'vilies. These S the resources applied by the Charity in undertaking its work to meet its charitable objectives. Govemance costs. These are costs Ihal relate to the general running of the charity. The govem8nce costs of the Charity are primarily associated with constitutional and statutory requirements. These are included under charitable costs. Support costs such as salaries have been allocated to activty ¥t categories on a consistent basis. b} Fund accounting The Charity holds unrestricted funds which can be used in accordance with the charitable objective5 of the charty and al the discretion of the Iruslees. The Charity did receive grants and donations which must be used for spe¢ifi¢ purp05es. A5 at the period end the balance on restricted funds was £259,187. Designated funds are unrestricted funds, which have been designated by the Trustees for a particular purpose. 19
The Karta Inltlatlve Notes to the Accounts for the perlod Ènded 31st March 2024 Ac¢ounting policles Icontlnuedl Incorning rosources Donation5 are recognised once the charity has been notified of the donation, unless perfomiance condition5 require deferral of the amount. Income tax recoverable In relation lo donations received under gift aid or deeds of covenant is recognised at the time of receipt. Interest on fvnds held on deposit is indudeé when receivable, which is normally on notification from the bank. Grant income is recognised when the charity has entitlement to the funds, any performan conditions attaching lo the grant are met. il is probable that the income will be raised, and the amount Can be measured reliably and is not defeed. In accordance with the Charities SORP IFRS 1021 the time of volunteers is not recognised. d) Financlal in5tTuments Basic financial assets which include cash and bank balances are initially recognised al transaction price. Penslons The charity has a defined contribution pension scheme to which it makes contributions for the benefit ol its employees. Income from grants and donations Uniastrictod Designated Funds funds Restrlcted funds Totsl 2024 Total 2023 Grants and donations Donations Student contnbutton Gift aid 1,110 110,000 950 111,110 950 11.1001 128,484 870 2,500 11.1001 10 110,950 110,960 131,854 The comparative figures include StrICted donations and restricted student contributions of £48.936 and £870 respectively. Unrestricted donations last year were £79,548 with gift aid of £2.500. Income from Investments Unregtrlcted Designated funds funds Restricted funds Total 2024 Totsl 2023 Interest received 5,951 5,951 1,313 The comparative figures include unrestricted interest received income of £1.313. 20
The Karta Inltlatlve Notes to the Accounts for the period ondgd 31sl March 2024 Charitable acllvltles Unyestrfcted funds 2023 DIgnated funds Restrict•d Total funds Total 2024 Scholar expenses Salary and consullanls, cost Website and IT costs (Karta Connect) Recrurtment costs Travel Other costs Governance (see note 7) 68,218 68,218 1,732 12,932 181,180 21.625 1,542 3,600 2,335 649 4,972 1,732 12,932 11,073 1,340 2,908 11,073 1,340 2,908 30,833 68,218 99,051 214,605 The comparative figures include restricted scholar expenses and salary costs of £181,180. All other comparative Gosts are designated. Expendtture on raising funds Unrestrlcled funds Deslgnated funds Restrict•d funds Total 2024 Total 2023 Salaries 8,317 The comparative figures include designated salary costs of £8,317. Governance costs Unrestrlcted funds Dosignated funds Rostricted funds Total 2024 Totsl 2023 Independent review of accounts Legal and professional fees Support costs- salaries 575 2,333 575 2,333 570 1,075 3,327 2,908 2,908 4,972 The comparative costs are all designated $ts. Analy91$ of employee costs 2024 2023 Salaries Social security Pension 19,961 675 20,636 In the year ended 31* March 2023 and 31 March 2024 no employees received emoluments of over £60,000 The charity employed 8 part-time employee who left in the year ended 31S1 March 2023. No employees were employed by the charity in the year under review. 21
The Karta Initiative Noto8 to the Accounts for the period ended 31st March 2024 Tru8tee8 and key management personnel remuneratlon and expenses The Trustees neither received nor waived any remuneration during the peric¥J. The total amount of employee benefit received by key management personnel is £Nil {2023'. £20,636). Due to the svze of the charity the Trustee5 consider all staff members lo be key employees. 10. Debtors 2024 2023 Other debtors 8,910 9.475 8,910 9,475 11. Creditors due within ono ygaT 2024 2023 Trade creditors and accNa15 1,743 1,373 1,743 1.373 12. Deslgnated fund Openlng balance Incoming Outgoing At31st Resources Resources Mareh 2024 Tata Trust 272,480 130.8331 241.647 Tata Trusts Designated Fund.. lo undertake, and meet the expenses of, activities required to support the educational 8nd professional outcomes of brilliant Indian students from rural low-income backgrounds. 13. Restricted fund Openlng balance Incomlng Resources Outgolng At31st Resources March 2024 Catalyst fund and Karta Connect 216,455 110,950 168.218} 259,187 216,455 110,950 168,218} 259,187 Catalyst Fund.. for holistic (educational, pastoral, professional and community-building} support of all Karta Catslyst Scholars during international and undergraduate study, initially established to support the first {20161 Cohort of Catalyst Scholars, and now supporting additional Catalyst Scholars. Karta Connect= development of a holistic digrtal plaNorm for learning and connecting with opportunity. 22
The Karta Initiative Notes to the Accounts for the period ended 31st March 2024 11. Related party tran8actlon8 Professional fees of £94012023: £1,075) charged by Wenn Townsend, Chartered Accountants. for the provision of accounting services. aY Bahl, trustee, is a partner of Wenn Townsend. The transaction was agreed by the Trustees as being in the best interests of the charity. 23
Indepgndent Examiner's Report lo the Trustees ol The Karta Initi•tivo I report on the accounts of the Charty for the period ended 31st March 2024 which are set out on page 16 to22. RespectSv8 responslbllltles of trustees and examlner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under SeCtn 144121 of the Charities Act 2011 (the Charities Act} and that an independent examination is needed. 11 is my responsibility to.. examine the accounts under SeCtn 145 of the Charities Act 2011., follow the prOdureS laid down in the General Directions given by the Charity Commission under seGtion 14515}Ib) of the Charf(ies Act 2011; and state whether particular matters have come to my attention. Basls of Independent examinerf8 Statement My examination was Caled out in accordan with General Directions gNen by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you 8S trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinron is given as to whether the accounts present a 'true and fair, view and the report is limited lo those matters set out in the statement below.. Indepondent gxamlner's $¢at¢ment In connection with my examination, no maller has come to my attention.. which gives me reasonable cause to believe thal, in any material respert the requirements.. to keep accounting records in accordance with section 130 of the Charities Act,. and lo prepa accounts whith accord with the accounting records and comply with the accounting qUirementS of the Charities Act 2011 have not been met,. or to which, in my opinion. attention should be drawn in order to enable a proper understsnding of the accounts lo be reached. LL kn4Ji46 A Churchill Stone FCA DChA Partner Mercer Lewin Ltd Chartered Accountant8 Oxford 31 January 2025 24