Trustees' Annual Report for the period
Period start date Period end date Day1 Month4 Year2022 Day31 Month3 Year2023
From To
Section A Reference and administration details
Charity name Other names charity is known by Registered charity number (if any) 1174605
Lotus Partners Foundation
Charity's principal address 45 Chatsworth Rd
London
Postcode W5 3DD
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 |
Trustee name | Office (if any) | Dates acted if not for whole **year ** |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| Prof Pankaj Sharma |
||||
| Dr Sapna Devi Sharma |
||||
| Ms Aarti Rani Sharma |
||||
| Mr Shyam Sunder Sharma |
||||
Names of the trustees for the charity, if any, (for example, any custodian trustees)
Name Dates acted if not for whole year
Names and addresses of advisers (Optional information)
| Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) |
|---|---|---|
| Type of adviser Name Address |
||
| Independent external advisor to Trustees |
Dr Isaac John | St Peters Hospital, Chertsey Surrey |
Name of chief executive or names of senior staff members (Optional information)
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Section B Structure, governance and management
Description of the charity’s trusts
Type of governing document
Constitution (CIO)
- (eg. trust deed, constitution)
Charitable Incorporated Organisation (CIO) How the charity is constituted
- (eg. trust, association, company)
Trustee selection methods
Appointed
- (eg. appointed by, elected by)
Additional governance issues (Optional information)
You may choose to include additional information, where relevant, about:
-
policies and procedures adopted for the induction and training of trustees;
-
the charity’s organisational structure and any wider network with which the charity works;
-
relationship with any related parties;
-
trustees’ consideration of major risks and the system and procedures to manage them.
Section C Objectives and activities
Summary of the objects of the charity set out in its governing document
To undertake charitable funding and support for all aspects of human health, education, medical and scientific research and animal welfare along with supporting the elderly and vulnerable, environmental and religious rights principally in Europe and Southeast Asia.
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To further such charitable purposes as the trustees see fit from time to time in particular but not limited to the advancement of health or the saving of lives, the advancement of animal welfare, the relief of those in need by reason of ill-health, disability, financial hardship or other disadvantage for the public benefit by the provision of advice, support and grants to individuals and registered, excepted and exempt charities with a particular focus on Europe and South-East Asia.
Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)
Additional details of objectives and activities (Optional information)
You may choose to include further statements, where relevant, about:
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policy on grantmaking;
-
policy programme related investment;
-
contribution made by volunteers.
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Section D Achievements and performance
The charity has overcome a previous challenging time nationally and Summary of the main internationally, not unlike other charities operating in a Covid achievements of the charity environment. during the year However, income has recovered allowing us to begin distributing but cautiously. Thus, we are pleased to report that we have distributed 21% of our funds. This is lower than the previous 45% but we have built our reserves following a difficult year. Administration costs remain well below our target of 20%. Funds have been distributed in accordance with the objectives of the charities particularly focusing on smaller institutions where a relatively small amount of money can have a big impact. Our website LotusPartnersFoundation.org contains the institutions to whom money was given and some are listed below: Gonville & Caius College, University of Cambridge Plan International Bhaktivedanta Manor Temple Food For Life Vrindavan
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Section E Financial review
Funds will continue to be distributed in the new financial year if income is Brief statement of the sufficient to fund our commitments to charitable organisations, in charity’s policy on reserves accordance with the charities objectives.
Details of any funds materially in deficit
Further financial review details (Optional information)
You may choose to include additional information, where relevant about:
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the charity’s principal sources of funds (including any fundraising);
-
how expenditure has supported the key objectives of the charity;
-
investment policy and objectives including any ethical investment policy adopted.
Section F Other optional information
Section G Declaration
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s) Full name(s) Prof Pankaj Sharma Position (eg Secretary, Chair, Chair etc) Date 24.09.23
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LOTUS PARTNERS FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 March 2023
| Unrestricted | Restricted | 2022 Total | 2023 Total | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Incoming Resources | ||||
| Grants, Donations, Sales etc. | 5 | - | 5 | 15005 |
| Bank Interest | 0 | - | 0 | 0 |
| Total Incoming Resources | 5 | - | 5 | 15005 |
| Direct Charitable Expenditure | ||||
| Core Work | 208 | - | 0 | 0 |
| Other Expenditure | ||||
| Fundraising, Publicity, Admin | 327 | - | 327 | 988 |
| Total Resources Expended | 8810 | - | 8810 | 6236 |
| Net Incoming/(Outgoing) | (8805) | - | (8805) | 8769 |
| Resources | ||||
| Funds as at 1 April 2022 | 6607 | 0 | ||
| Funds as at 31 March 2023 | 15376 | 0 |
Prof. Pankaj Sharma - Chairman
Signed on behalf of the Board of Trustees
24.09.23
LOTUS PARTNERS FOUNDATION
BALANCE SHEET AS AT 31 MARCH 2023
| Fixed Assets Current Assets Debtors Cash at Bank Creditors – Amounts falling due within one year Net Current Assets Funds Unrestricted Funds Restricted Funds |
2022 £ 0 0 6607 6607 0 6607 6607 0 6607 |
2023 £ 0 0 15376 15376 0 15376 15376 0 15376 |
|---|---|---|
Prof. Pankaj Sharma - Chairman Signed on behalf of the Board of Trustees
24.09.23
LOTUS PARTNERS FOUNDATION
BALANCE SHEET AS AT 31 MARCH 2023
1. ACCOUNTING POLICIES
General
The Financial Statements have been prepared under the Historical Cost Convention and in accordance with the applicable accounting standards and the charities SORP (Statement of Recommended Practice: ‘Accounting by Charities’).
2. Summary of Net Assets by Funds.
| Net Current Assets | Unrestricted Funds Restricted Funds Total £15376 £0 £15376 |
|---|---|
Additional Notes:
none