Charity number 1180742
The ChandRaj Foundation
Trustees' Report and Accounts
31 December 2021
## **The ChandRaj Foundation Report and accounts Contents**
||**Page**|
|---|---|
|Charity details|1|
|Trustees report|2|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes forming part of the Financial Statement|8|
## **The ChandRaj Foundation Charity Information**
## **Trustees**
Mr Kishorilal Shah Mr Rasiklal Shah
Trustee Trustee
## **Independent Examiner**
Sinclair Mckinsley Limited Chartered Certified Accountant Sinckot House 211 Station Road Harrow HA1 2TP
## **Bankers**
Santander Bank Plc 2 Triton Square Regent's Place London, NW1 3AN
## **Registered Office**
4th Floor, Suite 1, Office 5 Congress House 14 Lyon Road, Harrow Middlesex, HA1 2EA
**Charity Number** 1180742
1
## **The ChandRaj Foundation**
## **Trustees Report**
The trustees present their report and financial statements for the year ended 31 December 2021. The trustees have adopted the provisions of the Charities Act 2011 and “Accounting and Reporting by Charities : Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)”.
## **Objectives and activities**
The objective of the CIO is to advance such charitable purposes (according to the law of England and Wales) as the trustee see fit from time to time.
Our purpose is to further or advance the Jain religion worldwide through education programs, support Jain monks and nuns in India.
Our purpose is to advance the education of young people to ensure better future for underprivileged children by providing the grant to other charities that fund the grants for deserving candidates, construct new / extension to existing boarding schools and school refurbishment projects that will allow the students – especially dumb and deaf students – to better quality education.
Our organisation will make grants to other charities that relieve poverty by funding medical treatment, including minor and major surgeries, medical and health camps, housing, and food to support poor, disabled, elderly and people affected by natural disasters.
Our organisation will make grants to other charities that fund food and shelter costs to protect animals and thereby prevent the animals from being sent to slaughterhouses or prevent death during natural disasters.
Our organisation will make grants to other charities to support unpaid carers, particularly in relation to respite care and other temporary support that is organised when the primary caregiver needs a break, and particularly involving excluded or vulnerable families.
## **Strategy for meeting our charitable purpose**
Our strategy is to focus on advance tenets of Jainism, disadvantage Children / elderly’s welfare, welfare of animals impacted by natural disasters and support unpaid carers.
Our aim is to support active, energetic and highly efficient charities that deliver projects with a tangible impact on improving people / animal lives. Our initial focus is on working with limited number of charity organisation that we have researched thoroughly to ensure maximum impact and ease monitoring subject to strong proposals. Our current focus is on countries where we have developed local contacts and knowledge e.g. India & UK.
## **Structure, Governance and Management**
The charity is controlled by its governing document (‘Foundation’ model constitution) and constitutes a Charitable Incorporated Organization dated 1[st] October 2018. The trustees have the power to appoint additional trustees, as it considers fit to do so. Every future trustee shall be appointed by resolution of the trustees passed at a properly convened meeting of the charity trustees.
2
## **The ChandRaj Foundation**
## **Trustees Report**
## **Developments, Achievements and Performance**
During the period CIO had not identified any projects to support that was meeting the CIO’s Obejctives and hence funding was nil.
During 2021 Trustees have looked into following projects and will carry out further due diligence on these projects before committing any of CIO funds.
- Support Dumb and Deaf school in Gujarat – this school supports Dumb and Deaf students from very early age till the age of 12 years. The school is planning to extend the support till the age of 16 Years and ensure that children are prepared to face the outside world on their own instead of ending as unemployable after the age of 12.
-Provide social accommodation to underprivileged families in Gujarat. This accommodation is expected to provide place of worship for Jains.
- Project to build Jain Temple in London.
- -Construction of Jain Temples in Dwarka, Gujarat.
## **Financial review**
Cash reserves at the end of the year are adequate to support the continuation of current activities.
## **Risk Analysis**
The trustees have assessed the major risks to which the charity is exposed to and are satisfied that systems are in place to mitigate exposure to major risks.
## **Grant making policy**
Our trustees are active in identifying and sourcing projects which resonate with our purpose. Our main source of local organisations and in turn projects to support will be direct visits to local charities and through reliable references and local contacts. Initial enquiries may be submitted by charities via email or post and further documents are then requested as part of a detailed due diligence process. We evaluate the local charity by vetting their trustees, site visits, review their historic projects, historic project delivery track record, ability to maintain ongoing projects e.g., long term institution running.
We require documentation such as last three years annual reports, proof of registration, proof of ability to receive foreign funds, policy documents, details of historic projects completed and continuous feedback.As part of the detailed project selection process once the organisation has been approved we require the project to meet our purpose, have a tangible benefit in a cost effective manner, and have measurable outcomes and timely completion.
3
## **The ChandRaj Foundation**
## **Trustees Report**
## **Going Concern**
The accounts have been prepared on the basis of being a going concern. The Trustees confirm that they have taken into account all available information about the future for at least 12 month from the date the accounts were approved and conclude there is no uncertainty relating to going concern.
## **Statement of Trustees’ responsibilities**
The trustees of The ChandRaj Foundation are responsible for preparing the Trustees Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including “The Financial Reporting Standard 102 applicable in the UK and Republic of Ireland”
The law applicable to charities in England and Wales, The Charities Act 2011, Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources,including the income and expenditure, of the charity for the period.
In preparing these financial statements, they are required to: - select suitable accounting policies and then apply them consistently. - observe the methods and principles in the Charities SORP;
- State whether applicable Accounting standards have ben followed subject to any material departure disclosed and explained in the Financial Statements.
- make judgements and estimates that are reasonable and prudent; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements complywith the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees report was approved by the Board of Trustees on 29th September 2022.
Signed on behalf of the Trustees:
Mr K L Shah
(Trustee)
4
**The ChandRaj Foundation Independent Examiner’s Report**
## **to the trustees of The ChandRaj Foundation**
I report on the accounts of the Trust for the year ended 31st Deccember 2021 which are set out on pages 6 to 10
## **Respective responsibilities of trustees and examiner**
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 section 144 of the Charities Act 2011(the Charities Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act;
- to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and
- to state whether particular matters have come to my attention.
## **Basis of Independent Examination's Statement**
My examination was carried out in accordance with the general Directions given 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 as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent Examiner’s Statement**
In connection with our examination, no matter has come to my attention:
1. which gives reasonable cause to believe that in, any material respect, the requirements (a) to keep accounting records in accordance with section 130 of the Charities Act; and
(b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Charities Act have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Rajesh Chechani Sinclair Mckinsley Limited Chartered Certified Accountants Sinckot House 211 Station Road Harrow HA1 2TP
29 September 2022
5
## **The ChandRaj Foundation Statement of Financial Activities for the period ended 31 December 2021**
|**Unrestricted**
**funds**
**Designated**
**funds All Funds**
**Notes**
**2021**
**2021**
**2021**
**£**
**£**
**£**
**Income Resources**
I) General Income
2
0
0
0
ii) Bank Interest
3
3
iii) Giftaid refunds
0
0
iV) Investment Income : Rent
33,613
33,613
**Total Incoming Resources**
33,616
0
33,616
**Resources expended**
i) Grants paid to institutions
3
0
0
ii) Property related expenses
4
11,489
11,489
iii) Management & admin of Charity
5
720
720
**Total resources expended**
12,209
0
12,209
**Net Incoming Resources**
21,407
0
21,407
**_Net Movement in Funds_**
754,547
0
754,547
**775,954**
**0**
**775,954**
**Funds balance carried forward as**
**at 31 December 2021**
Funds balance brought forward
as at 01 January 2021|**All Funds**
**2020**
**£**
226,275
9
0
21,300|
|---|---|
||247,584|
||13,304
5,923
950|
||20,177|
||227,407
527,140|
||**754,547**|
The notes on pages 8 to 11 form part of these accounts
6
## **The ChandRaj Foundation Balance Sheet as at 31 December 2021**
|**Notes**
**Fixed assets**
Tangible assets
6
**Current assets**
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
7
**Net current assets/(liabilities)**
**Net assets**
**Represented by:**
Unrestricted funds
8|**2021**
**£**
765,000
36,700
(25,746)
10,954
775,954
775,954
775,954|**2020**
**£**
765,000
16,973
(27,426)
(10,453)
754,547
754,547
754,547|**2020**
**£**
765,000
16,973
(27,426)
(10,453)
754,547
754,547
754,547|
|---|---|---|---|
|||||
||||754,547|
||||754,547|
||||754,547|
Approved by the Board of Trustees on 29 September 2022 and signed on its behalf by
|Kishorilal Shah|Chairman|
|---|---|
|Rasiklal Shah|Treasurer|
The notes on pages 8 to 11 form part of these accounts.
7
**The ChandRaj Foundation Notes to the Accounts for the year ended 31 December 2021**
## **1 Accounting policies**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## _**Income**_
All income is recognised in the Statement of Financial Activities once the Charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## _**Taxation**_
The charity is exempt from tax on its charitable activities.
## _**Foreign Currencies**_
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
## _**Income and expenditure account**_
The Statement of Financial Activities discloses the identical information of the Income and Expenditure Account and as such no separate Income and Expenditure Account has been prepared.
## _**Going Concern**_
The accounts has been prepared on the basis of being a going concern as outlined in the Trustees" annual report.
## _**Creditors**_
Short term creditors are measured at the transaction price.
8
## **The ChandRaj Foundation Notes to the Accounts**
## **for the year ended 31 December 2021**
|**2**
**Income**
**2021**
**Unrestricted Fund**
Legacy/ Donation/ Income
-
0
**3**
**Grants Paid to Institutions**
Vardhman Sanskar Dham - India
-
-
**4**
**Property Related expenses**
**2021**
**£**
Agent commission
1,556
Heat & light
-
General rates
596
Service charges and ground rent
5,933
Legal and professional fees
42
Insurance
413
Repair and maintenance
2,949
11,489
**5**
**Management & Administrative Expenditure**
**2021**
**£**
Accountancy
720
Bank charges
-
720
Voluntary income includes donations received in cash and kind.|**2021**
-|**2020**
226,275
-|
|---|---|---|
||0|226,275|
||||
||||
||-|13,304|
||-|13,304|
||**2021**
**£**
1,556
-
596
5,933
42
413
2,949|**2020**
**£**
1,134
23
-
2,053
690
749
1,274|
||11,489|5,923|
||**2021**
**£**
720
-|**2020**
**£**
900
50|
||720|950|
9
## **The ChandRaj Foundation Notes to the Accounts**
## **for the year ended 31 December 2021**
## **6 Tangible fixed assets**
|**Cost**
At 1 January 2021
Additions
At 31 December 2021
**Depreciation**
At 31 December 2021
**Net book value**
At 31 December 2021|**Land and**
**buildings**
**£**
765,000
-|
|---|---|
||765,000|
|||
||-|
||765,000|
(52 Charlton Road is a residential freehold property and 35 Hanbury court is a long leasehold residential property)
## **7 Creditors due in one year**
|Accruals
**8**
**Statement of funds**
Unrestricted fund of the Charity
Restricted fund of the Charity|25,746|27,426|
|---|---|---|
||25,746|27,426|
||**£**
775,954
-|**£**
754,547
-|
||775,954|754,547|
## **9 Trustees' remuneration and benefits**
The trustees received no remuneration or other benefits during the period ended 31 December 2021.
## **Trustees' expenses**
The trustees have claimed no expenses during the period ended 31 December 2021.
10
## **The ChandRaj Foundation Notes to the Accounts for the year ended 31 December 2021**
- **10 Ultimate Controlling Party**
The trustees consider that the charity is jointly controlled by the trustees and there is no ultimate controlling party.
- **11** Chandrakant Ladhabhai Shah donated part of his estate to achieve the objectives of The Charity.
11