Charity numb&r: 1178246 KAMAL INDIA FOUNDATION UK UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 202S LUBBOCK FINE LLP Chartered Accountants Paternoster House 65 St Paul's Churchyard London EC4M 8AB
KAMAL INDIA FOUNDATION UK CONTENTS Page Reference and Adrninistrative Details of the Charity. its Trustees and Advisers Trustees. Report Statement of Financial Activities Balance Sheet Notes to the Flnanclal Statements 6-12
KAMAL INDIA FOUNDATION UK REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2025 Trustees N8vroz Darius Udwadia Luis Marts"n Blinder Acenal Livia Krisandova (appointed 21 February 20251 Chades Carvalho lapFointed 21 February 2025) Charty reglstered number 1178246 Prlnclpal offl¢e 9 Vicarage Gardens London W8 4AH Accountants Lubbcd Fine LLP Chartered Ac¢ountsnts & Statutory Auditors P8lemoster House 65 Sl Paul's Churchyard London EC4M 8AB
KAMAL INDIA FOUNDATION UK TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2025 The Trustees present their annual report together wrth the unaudrted financial statements of Kamal India Foundation UK Ilhe Chantyl for the year ended 5 Apn-12025. The Trustees confirm that the Annual Report and financial ststemenls of the Chanty compty wrth the currenl statutory requirements, the requirements of the Charity's goveming document and the proviOn5 of the Statement of Recommended Practice ISORPI, applicable lo charities preparing their accounts in a¢¢ordants with the Financial Reporb"ng Standard applicable in the UK and Republ of Ireland {FRS 1021 leffe¢bve 1 January 20191. Trustg•s The trustees who served during the year We.. Mylhily Katsaris Iresigned - 30 April 2024) Navroz Darius Udwadia Luis Martin Blinder Acenal Livia Krisandova lappoinled 21 February 20251 Charles Carvalho (appointed 21 February 2025} Structure, governance and manag•m•nt Kamal India Foundation UK is a Charitable If*rpOrated Organisabon ICIOI registered with the Charity Commission with number 1178246 in May 2018. The charity is governed ty rts constslutson dated 2 May 2018 amended on 2 July 2021. Thè Board of Trust888 is r8sponsible for the overall govemance of the CIO. Trustéès may bo appointed al the di$¢tion, and with the approval. of the existing Trustees. Ne•V Tmstees a briefed of thèir duties from existing Trustees. The Trustees actively review the major risks the CIO faces on a regular basis. The Trustees have also examined other operatsonal and business risks faced by the CIO and have established systems to miligale these risks. Oblecll¥e8 and actlvltle• The Kamal India Foundation UK was set up in May 2018 wrth the following objective.. To provide help to socially and economically disadvantaged Indian children through educatlon, medical aid and scientific rese8rch that drives pM)sitive outcomes in the relevant fiehjs rrEntsoned. The charity achieves its objective through providing donat5 to organisab'ons who promote activities in line with the charity'$ objectivies. Donations are provided after the board of Trustees have discussed potential projects and donations are made when the b)ard unanimously agrees on a worthwhile cause. The Trustees confim that they have complied witrt the duty in section 17 of the Charities Act 2011 to have due regard lo the Charities Commission's general guidance on public benefit_ Achlevements and Perfornmnce During the year the charity awarded £274,573 in donations of which £8,700 was to Sense Intèmational India for the sponsor of people with deaf blindness and multsple disabilitses in both GOA district (North & South) . Flnaneial Review During the financial year, the CIO received incoming reSoUS of £8,624 {2024". £12.7751. This represented donations reiVed and interest on the bank account held by the Charity. ExndItUre including granls and support costs lotalled £376,413 12024 £774,500). This resulted in a deficit for the year of £367,789 12024 deficit of £761,725) after taking into acrount foreign exchange10s5 of £65.138 (2024 - £46,566}.
KAMAL INDIA FOUNDATION UK TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Financial Review Icontinuedl Unrestricted funds carried forward totalled £2,221,08612024 - £2,588,875) al the balance sheet date of which all of the fLJnds are free resetves. The reserves are held to continue to promote the charitable activities of the Charity. Due to the strength of the balance sheet, there is no formal reserves policy however the Trustees regulady review the liquidity of reserves to enable the continued funding of charitable aclivilies. Plans for future period8 Since the balance sheet date, the Charity has.. SupF)Orted Sense International India with their work helping deaf blind children in India across 23 slates. They help with eady intervention and idents"fication, Income generation and vocational training, educatsonal training and inclusion. Further supporting Sense Inlemational India to reach out to children and young adults with autism, cerebral palsy and intellectual disabilits"es. Work to be done includes reaching out lo the various Non-Governmenlal Organisations INGOI in the ecosystem, providing education and rehabilitation services, conducting awareness programmes ft)r related members in the field and holding medical camps. Worked with Pramiti Philanthropy, based in India, who have contacts with many different individLJals I trusts in India that are also working with underprivileged chIldn and provide support to medical camps with PPE stock, medicine, food kits, payment for medical Iransportalion. Supported Seren-Rose 17 yrs of age) who was born without a fully developed corpos ¢allosum (the thick band of nerve fibres that divides the cerebral cortex lobes into left and right hemispheres Menk Hennekum syndrome). Support is given for her physio and occupational therapy costs lo help her physical and sensory development. The continue to support her and the family whilst the family can also be trained by the Iherapisls. Supported Emma Jahja112 yrs of age) with cerebral palsy affecting both sides of her body resulting in very limited movement. KIF helps run 3 different types of therapies to improve the quality of Emma's life. Emma has also been reivIng once a week Aquatic Physiotherapy session for 1.5 hours dLsring the past year aiding muscle strength, range of motion, ordination. Continued supporting Julia-Janelle Kierczak Ogwuche (a UK based childl with her endeavours to become a professional tennis player. KIF helps support expenses relating to professional tennis coaching that Julia's family wouldn't otherwise be able lo afford. Julia has shown immense passion for tennis and the drive to break through lo the top. with the right guide and assistance she hoped lo become the best she possibly can. Looking ahead she wants to conlinLJe to improve the international ranking and acquire more training. Eliot McQuater has received financial support with tennis coaching lo help with his budding tennis career. The Charity was delighted lo welcome tsvo new trustees to help support the Charity - Livia Krisandova and Chartes Carvalho. Approved by order Df the members of the board of Twstees and signed on their behalf by". Navros Udwadla Trustee Page 3
KAMAL INDIA FOUNDATION UK STATEMENT OF FINANCIAL ACTNMES INCORPORATING INCOME AND EXPENDrruRE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2025 AG restated Total funds 2024 Unrestrfcted funds 202S Total funds 2025 Note Income from: Investments 8,624 8.624 12,775 Tolal Income 8,624 8,624 12,775 Expendlturo on: Charitable aclivilies-. Grants payable and other direct costs Foreign exchange Sossllgain) Other support costs 289,495 65,138 21,780 289.495 65.138 21.780 724,454 46.566 3,480 Total expendlture 376,413 378.413 774,500 Net movfrm•nt In fund¥ 1367,789) 1387.7891 1761,7251 Reconelllatlon of funds: Total funds brought forward Net movement in funds 2,588,875 1367,789} 2.588.875 1367,7891 3,350,600 1761.7251 Total fund8 carrlod forYArd 2,221,086 2,221,086 2,588,875 The Statement of Financial Acliv¢bes indudes all gains and losses recognised in the year. The notes on pages 6 to 12 fom) part of these finanaal staiements.
KAMAL INDIA FOUNDATION UK BALANCE SHEET AS AT 5 APRIL 2025 As reststed 2024 2025 Note CUrn1 assets Cash at bank and in hand 2,500,674 3,399,887 2,500,674 3,399,887 Current liabiliti¢$ Creditors.. amounts falling due within one year 1279,588} {694,509) Net currenl assets 2,221,086 2,705,378 Creditors.. amounts falling due after more than one year 1116,5031 Totsl net assets 2,221,086 2,588,875 Charlty funds Restricted funds Unrestricted funds 2,221,086 2,588,875 Total funds 2,221,086 2,588,875 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. rJiid,L, Navros Udwadia Trustee Date.. Q>LE The note5 on pages 6 to 12 fomi part these financial statements. Page 5
KAMAL INDIA FOUNDATION UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 GENERAL INFORMATION Kamal India Foundation UK is a Charitable Incorporated Organisation registered with the Charity Commission on 4 May 2018. The Charity's regislered office address and principal place of busir7ess is Flat 3, 14 Vicarage Gate, London, W8 4AG. ACCOUNTING POLICIES 2.1 Basis of preparation of financial statements The financial statements have been ppared under the historical cost convention with items recognised at cost or transaction value unless otherwise ststed in the relevant notes lo these accounts. The financial ststemenls have teen prepared in accordance with the Statement of Recommended Practice.. Accounb"ng and Repoth'ng by Charities prepanng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 effective 1 January 2019, Financial ReForting Standard appluble in the Unrted Kingdom and Republic of Ireland IFRS 1021 and Chanlies Act 2011. The Charity n$'tuteS a public benefft entity as defined by FRS 102. Kamal India Foundation UK meets the definition of a public benefit entity under FRS 102. Assets and liabilities are inibally recognised al historical Cost or transaction value unsess otherwise slated in the relevant accounting policy. 2.2 Golng con¢•m The Trustees consider that there is no material uncertainty about the Charitys ability to conlinue as a going conrn. 2.3 Incom• l income is recogni$8d once the charitsble company has enb"Ilemenl lo Ihe income. it is probable that the income will be received and the amount of income receivable can be measured reliably. Donation income is accounted for when pledged. 2.4 Interest rec•lvable Interest on funds held on deposrt is included when r1Vable and the amount Can te measured reliably by the Charity,. this is normally upon nob"fication of the InteSt paid or payable by the Bank. 2.5 Expenditure Expenditu is recognised once there is a legal or constru¢bve obligation to make payment lo a third paty, il is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure on charitable activities is incurred on direcvy undertaking the activrties which fvrther the Charity's objectives, as well as any associated support costs. Donations payable a charged in the year when the donation is committed lo exp1 in those cases where the offer is (x)nditional. such donab'ons being reccgni5ed as expenditure when the condits'ons attaching are fvlfilled_ All expenditure is incluswe of iffecoverable VAT.
KAMAL INDIA FOUNDATION UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 ACCOUNTING POLICIES (CONTINUED) 2.6 Debtors Trade and other debtot5 are recojnised al the sethement amount after any trade discount offere, Prepayments a valued at the amount prepaid net of any trade discounts due. 2.7 Cash at bank and in hand Cash al bank and in hand includes cash and short-term highly liquid investments with a short maturi of three mnths or less from the date ol acquisition or opening of the deposit or similar account. 2,8 Cr•dltors and provl8lon8 Liabilities a recognised when there is an obligation al the Balanc£ Sheet dale as a result of a pa event, rt is probable that a transfer of economic benefit will be required in settlement, and the amoui of the settlement ¢an be estimated reliabty Liabilitses are recognised at the amount that the Chari anticipates it will pay to settle the debt or the amount it has received as advanced payments for tr goods or servic£s rt must provKle. ProvIsnS are measured at the best estimate of the amoun required lo settle the obligation. Tradè and other creditors are recognised al the settlement amount after any trade discount receiv A¢cruals are valued based on the eslimaled amount to be paid. 2.9 Flnanclal Instrumonts The Chanty only has finanaal assets and financial liabilities of a kind that qualfy as ba$1¢ financi inslrumenls. 8asic financial Instrumènts are initially recognised al transacb'on value and subsequent measured at their settlement value with the exception of bank loans which are subsequent measured al amorti$ed ¢ost using the effective interest methc4J. 2.10 Fund accountlng General funds are unrestricted fvnd5 whith are available for use al the discretion of the Trustees furtherance of the general objectives of the Chanty and whth have not been designated for othi purwses. Restricted fvnds are funds which are to be used in accordance wrth specific Stn¢tions imposed I donors or which have been raised by the Charity for particular purposes. The costs of raising ar administering such funds are charged against the speufic fund. The aim and use of each restr fund is set out in the notes to Ihe financial statements. 2.11 Foreign curren¢i¢s Monetary assets and liabilities denominated in foreign currencies are translated into slerfing at ratÉ of exchange njling at the reporhng date. Transactions in foreign currencies are tranated into sterling at the rate ruling on the date of tt transaction. Exchange gains and losses are recognised in the Statement of Financial Activities.
KAMAL INDIA FOUNDATION UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 INVESTMENT INCOME Unrestricted funds 2025 Tota fund¥ Interest received 8,624 8,624 Unrestrictgd funds 2024 Tota fundt 2024 Interest receNed 12.775 12,775 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTNMES Summary by fund type Unrestri¢ted funds 2025 Tota 202: Supporting disadvantaged Indian chIldn 376,413 376,41 ? The Charity had no employees during Ihe current or prior year and thefOre no individual reIvin1 muneration of mre than £60.000. Unrestrf¢ted As restalec funds Tota 2024 2021 Supporting disadvantaged Indian children 774,500 774,50C
KAMAL INDIA FOUNDATION UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 ANALYSIS OF EXPENDITURE BY ACTNMES Activities undertaken directly 2025 Support costs 2025 Total fund$ 2025 Supporting disadvantsged Indian ¢hitrJren 289,495 86,918 376,413 A¢tfvltl undertaken dlrectly 2024 A$ r8statsd Total funds 2024 Support costs 2024 SUppO.n9 disadvantaged Indian chiklren 724.454 50,046 774,500 ANALYSIS OF DIRECT COSTS Total funds 2025 Acllvities 2025 Grants to individuals- To support physhtherapy treatment for children Grants lo institutions - Grant to Kamal Udwadia Foundation Grants lo insts'lutions- Granl to Sense Intemational India for the sponsor of deafblind children and their families Other difect cost- Philanthropy services 250.951 14,922 250,951 14,922 8,700 14,922 8,700 14,922 289,495 289,495 As restated Total funds 2024 Acllvilles 2024 Grants to individuals - To support physK)therapy treatment for children Grants to institutions - Grant to Kamal Uthvadia Foundab"on Grants to institutions- Grant to Sense Intemational India for the sponsor of deafblind chikjren and their families Other direct cost- Philanthropy services 453,070 17,165 453,070 17,165 237,054 17,165 237,054 17,165 724.454 724,454
KAMAL INDIA FOUNDATION UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED) ANALYSIS OF SUPPORT COSTS Tota fund A¢tlvltles 2025 Professional fees Foreign exchange loss Acountancy Fee 13,200 65,138 8,580 13.200 65,138 8.580 86,918 86,918 Actlvltle8 2024 funds 2024 Foreign ex¢hange gain Accountancy Fee 46.566 3.480 46,56e 3,480 50.046 SO,046 Trustees. remuneratlon and expenses During the year, no TTuslees received any remuneralKJn or other benefits {2024- £NILI. During the year ended 5 April 2025, no Trustee expenses have been incurred.12024- £NILI.
KAMAL INDIA FOUNDATION UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 CREDITORS: AMOUNTS FALLING DUE WtrHIN ONE YEAR As restated 2024 2025 Accruals and deferred income Grants payable 4,200 275,388 3.300 691.209 279,588 694,509 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2025 2024 Grants p8yable 116,503 STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance at 6 Aprll 2024 Balancg at 5 AprS12025 Income EXndItUrn Unrestrlcted funds General Funds 2.588,875 8,624 (376,4131 2,221.086 STATEMENT OF FUNDS- PRIOR YEAR As restated As rfrstated Balance at Income Expendlture 5 April 2024 Balance at 6 April 2023 Unre8lrlcted funds General Funds 3.350,6CM) 12,775 (774,500) 2,588.875
KAMAL INDIA FOUNDATION UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 10. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR UnrestTlctgd funds 2025 Total funds 2025 Current assets Creditors due within one year 2.500,674 {279,5881 2.500,674 1279,5881 Total 2.221,086 2,221,086 ANALYSIS OF NET ASSETS BETEN FUNDS- PRIOR YEAR As restated Unre$trlcted As restated funds Total funds 2024 2024 Current assets Creditors due wthin one year Creditors due in more than one year 3,399,887 3,399,887 1694,5091 1694.5091 1116,5031 1116,503} Totsl 2,588,875 2,588.875 11. RELATED PARTY TRANSACTIONS During the year, donations totalling £14,92212024- £17.1651 were made lo Kamal Uadia Foundation, a not for profit organisation lStered in India in which d05e farnity members of Navroz Darius Udwadia are directors. Both the Charity and K2mal Udwadta Foundation have the same objectives. 12. PRIOR YEAR ADJUSTMENTS A prior year adjustment has en made to reeognise a previously omffted accrual for a grant payable which was committed pnor to the 5 April 2024. The impact of the adjustment is to increase creditors due within one year by £307,305 and increase the deficit for the year by £307.305.