2023-10-01-accounts - The Saraswati Scholarship Fund

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Trustees’ Annual Report for the period

From 02/10/2022 Period start date To date

01/10/2023 Period end

Charity name:The Saraswati Scholarship Fund

Charity registration number:1176036

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	The advancement of the education of selected students who wish to pursue a career in the field of Medicine.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	Fund raising through private donations.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	Trustees have had regard to the guidance issued by the Charity Commission on public benefit.

Additional information (optional) You may choose to include further statements where relevant about:

	SORP reference
Policy on grant making	Para 1.38	Grants are made to students who need to study Science subjects in Year 11/12 and thereafter follow vocational, medically linked courses and cannot afford to do so without financial assistance.
Policy on social investment including program related investment	Para 1.38	n/a
Contribution made by volunteers	Para 1.38	All the Trustees are volunteers and it is they who fund raise, advise, select and mentor recipients of the grants
Other

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	The charity has continued to fund recipients as necessary until they finish their qualifications and secure jobs. Two new students have been selected and in each case they would have been unable to pursue their course of action without (our) financial support. Their families, if they exist, benefit from one of their number being independently financed and society benefits from the work of these beneficiaries.

Additional information (optional) You may choose to include further statements where relevant about:	Additional information (optional) You may choose to include further statements where relevant about:	Additional information (optional) You may choose to include further statements where relevant about:
Achievements against objectives set	Para 1.41	Objectives met
Performance of fundraising activities against objectives set	Para 1.41	Informal fundraising was sufficient; the Saraswati Fund’s grant making is bespoke and careful in its commitments and it continues to have funds sufficient to cover the fees and other requirements such as the purchase of books.
Investment performance against objectives	Para 1.41	n/a
Other

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	Income £1514. Spending £8937. Our extant funds easily covered expenditure and foreseeable expenditure in support of these recipients.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	n/a
Amount of reserves held	Para 1.22	£20,734
Reasons for holding zero reserves	Para 1.22	n/a
Details of fund materially in deficit	Para 1.24	n/a
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	It is our intention to see current recipients of our grants through for as long as they need us but not to initiate any new support for individuals.

Additional information (optional)

You may choose to include further statements where relevant about:

The charity’s principal sources of funds (including any fundraising)	Para 1.47	Private donations including direct debits
Investment policy and objectives including any social investment policy adopted	Para 1.46	n/a
A description of the principal risks facing the charity	Para 1.46	A student may not be able to complete the course (s) or progress to the next level for academic reasons. The Fund may not be able to grant funds to a student for contextual reasons. The Charity is committed to prioritising enabling the students currently receiving a grant to complete their qualifications over granting new students.
Other

Structure, Governance and Management

Description of charity’s trusts:		Trust deed
Type of governing document (trust deed, royal charter)	Para 1.25	Trust
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	Trustees are chosen by recommendation usually by one Trustee and then agreements of the other Trustees. In effect this agreemens have always been unanimous.
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	n/a

Additional information (optional)

Additional information (optional)	Additional information (optional)	Additional information (optional)
You may choose to include further statements where relevant about:
Policies and procedures adopted for the induction and training of trustees	Para 1.51	All the Trustees have first hand knowledge of the circumstances, education, life and family commitments of all the students concerned. Membersbrs of the Trust actively mentor and monitor recipients of the grants.
The charity’s organisational structure and any wider network with which the charity works	Para 1.51	There are five Trustees, 3 in the UK and 2 in India. We work and consult with other NGOs working with very poor people in India.
Relationship with any related parties	Para 1.51	Informal and mutually beneficial but financially independent..
Other

Reference and Administrative details

Charity name	The Saraswati Scholarship Fund
Other name the charity uses
Registered charity number	1176036
Charity’s principal address	7 Coombe Terrace Sherborne , Dorset DT94DA

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Dates acted if not for whole year
Sophie Baker	Founding Trustee	December 2017 until present
Jane Carling	Administrator/ secretary	December 2017 until present
Sujata Sen	Academic advisor in India	January 2018 until present
Natasha Whiting	Communications and marketing	January 2018 until present
Nikilish Bhattacharia	Academic advisor	January 2018 until present

– Corporate trustees names of the directors at the date the report was approved Director name n/a

Name of trustees holding title to property belonging to the charity

Trustee name	Dates acted if not for whole year
n/a

Funds held as custodian trustees on behalf of others

Description of the assets n/a held in this capacity Name and objects of the n/a charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for n/a safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of	Name	Address
adviser

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

n/a

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Position (eg Secretary, Secretary/administrator Chair, etc)

Date 31/7/2024