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 Ma￿h 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, U￿san 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 first￿eneratIon18arners.
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 ba￿lers, 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
reSoUr￿S 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 ne￿ork. Many scholars have
graduated and are now leading impacfful changes in their
communities.
Facilitaled handS￿n 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 be￿een 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 ent￿preneurShlp 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 reSoU￿s.
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 eX￿llen￿ 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$t￿arnS, 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-to￿aY 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 re￿ived.
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 cOn￿rnS 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 ne￿SSary 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$trictsd
Designated
Rostrictod
In¢omo from
Grants and dcnations
Investments
10
5,951
110.950
110,960
5,951
131,854
1,313
Total income
5,961
110,950
116,911
133,167
Exp•nditure on
Charitable activities
Raising funds
30,833
68,218
99,051
214,605
8,317
30,833
68,218
99,051
222,922
Net income
5,961
130,8331
42.732
17,680
{89,7551
Transfer be￿eeft fvnds
Net movements in funds
5,961
130,8331
42,732
17,680
189,7551
Reconciliation of fvnds
Totsl fvnds brought forward
86,455
272,480
216,455
575,390
665,145
Total funds tarried forward
92,416
241,647
259,187
593,250
575,390
The ststement of financial activf(ies includes all gains and losse$ ￿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 defe￿ed.
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
D￿Ignated
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 SeCt￿n 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 SeCt￿n 145 of the Charities Act 2011.,
follow the prO￿dureS 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 Ca￿led 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