The Mulchand Foundation Financial statements for the year ended 29 February 2024 Charlty number 1181826
THE MULCHAND FOUNDATION Financlal Statements for the year ended 29 February 2024 Charity Information Charity registration number 1181826 Principal offlce Laltex House Leigh Commerce Park Greenfold Wav Lei8h WN7 3XH Trustees Rajan Mulchand Sanjay Mulchand Venika Mulchand Secretary Carl Prlce Bankers HSBC Bank PIC 2nd Floor Landmark st Peterfs Square l Oxford Street Manchester M14PB Independent examiner Justln Colllghan Lymore pleaslngton Lane Bla¢kburn BB2 5JE
THE MULCHAND FOUNDATION FSnanclal Statements for the year ended 29 February 2024 Index to the financlal statements Page Report of the trustee5 Independent £xaminers' report Statement of financlal attivilies Balance sheet Notes to the ac¢ount5 &7
THE MULCHAND FOUNDATION Flnanc5al Statements fortheyearended Z9 February2024 R8porttothe trustees The financlal statements ofthe ch&rityfprthe year ended 29 February2D24. The tru5teÈs havèadopted the provislons of A¢countin8 and Reportln8 by Charltles:StètemeTht of Recomrnended Practlce applicable to£harltles preparlngtheiraccounts In accerdance with the Flnandal Reportlng5tandaryJ appllcable in the UK3nd Republlc of Ireland IFRS 1021 leffectlve I Jafiuary 20151. Oblectl¥os and artlvltlqs The overall objectives olthe Charity areto makedDn8tlonsto charltsbje In5tltutlon5. fuv 8enerdl tharltable purposes. Ensurln8 oyrworkd¢llversour alms Regular meetings are held to declde walch ¢harltable Insiltutl¢ns re1Ve donattons. Publ1£ Bn•flt It Is Intended that don4tlon$ •reto be mode efflclently+ generan¥the 8reatest benefit tothe¢htssen charkle5. The tru5teè$ have reyrd to the Charltles Comm1551on'$ 8uldance on publlc benefItwhÈn Mangde(l51ons on donatlons. èlnanclal revlew It 1$ th¢ ifitentlon of the trustee5to ende4¥0urtt) malntaln a $urplu$ bglan¢¢ on unrestrlcted fund5, In order to wotect the charlty agalnst the Impatt of 5hortf4115 In earned Income. The unre5trlcted funds #t 29 February 2024 are É206,23312023.. £235,579). DnnatSons ce5ved durln8the pertod amounted to £267,51812023: £1,889), wlth charltable donatlon$ 8lven out dtrrln8 th¢ veèr8mount•d to £298,76612023.. £111,164). Investment Income durin8theye•r amounted to£2,13712023.. £9471. There were no slgnlflcant events durln8 the yèar that could affett thefftnancl81 perfomiance OT P055tl¢n goln8foNJard. Future plHns The trustee5 Intend tocontinue with the programme of donatlons In the com5ng year. Strurtur¢i io¥ern•nce and rMna8ement Govemlnq Document The Mulchafid Foundatlon, Charity Commission Number.. 1181826wa5 created with the objective of m8klng donatlon5 to charlt2ble Instliutlon5 In such mannerasthe tTUStee5 rnay thin fit The ch8rity15charltzble Incorporated or84ni5alion. Recruibnentand appolntrnent of newtrustee$ 0Dd managemontcommlttee All Trustees were retsineil durin8thE year, and thereforetheTTUStees have no intÉnUons of any new appolntrnents ITr the nearfuture.
THE MULCHAND FOUNDATION Flnanclal Statementsforthe yoarendÈd 29 February2024 Report tothetrustee$ Organ15•tional structure The Foundatlon has three Trustees. who meet on a regular basis to monltor. and coordlnate donatlons and thegeneTrl runnin8 of the Charity. Related P8rtle5 The Trustees h4ve cTrntrolllng shares In Laltex and Co Llmltsd. Durlngthe period the Foundation retelved donatlonstetslllng É250,¢XIO12023.. £01 from Laltex and Co Limited. Laltex •nd Co Limlted Is a compèny whlch Mrsanlay Mukknand Mr Rajan Mulchand are dlrÈctors. TTrustees' sPOnsIbl11t1eSIorth•ll0th¢lll Slatemenis The trustees are responslble for preparing theTru5tee< Report •nd the financlal statements In accordance wlth applicable law and re8ulatlon5. 7he law appl¢cableto charitles In En8land and Wales requlres the trustees to prepare financial statemnt$for each flnanclal vear, Under that law the trustees have elected to preparethe financl•l $tementS In accordance wlth Unlted Kln8do Generally Accepted Accountin8 Prodl¢e (Urtited Klngdom Accountlngstandafdsand appllcablc lawl. rhe trustees must not approve thefin8nclal statements un1essthey are satlsfied that they Bivc a true and falr vlew ol the state of èffaSr$ of the charlty and of the Income re50urce5 and appllratlon of resources. lTrcludlng the Incom¢ and expendlture. of tho charlty for that por50d. In preparln8 these fln¥n¢lal statements, th8 trustees a requlred to.. select 5uStsble accountin8 poll¢le$ and then apply them cons15tently observe the methods and prlnclple5 In the Charltie5 SORP,. make ludyments and 4¢countlng esiima¢es thot?re reasonable and prudent,. stat¢ whetherappllcable UK Ac(ountln8 Standards have been Iollowed. subject to any materlal departure5 d15¢1osed ènd eKplalTred Inthe flnan¢5al sratemeni$.' and ppare the flnanctsl siaternents on the8olnE concern bas15 unle55 It Is Inapproprl•te to pre5umethat the ch•rlty 11 coThtlnue In buslne55. The tru5tee5 are respon51blefor keepin8 adequate a¢c¢untln8 recordsth8t are 5ufficlentto show and explaln the ¢h£rlt(s tran5aCtitrns•nd diselose with reasonable accuracy at anytlme the financlal p051tlDn of the Eharity and enable them to ensure that the flnancSalstBtement5£0rnply wlth the Charltle5 Art 2011.thE Charity IActounts and Report51 ReÈul8tions and the prov15ion5 olthe trust deed. They ore a150 resppnsible forsafeguardlnKthe ossets olthe ¢harity and hence fortakln8 re450n4ble Steps for the preventlon and detection of fraud and other Irre8ularltles. BY ORDER OFTHE TRUSfEES S R MultharKI Trustee IE)i.I
THE MULCHAND FOUNDAYION Flnanclal Ststenaents for the year ended 29 Feljruary 2024 Indepondent Examiner< Roport to the Trustse5 of The Multhand Foundation I reportonthe accounts of the FoUr0tiON forthe yearended 28 Febru8ry2023.whlch aresetout on pages4to 8. Respectlve re5pon51billtles and bosb ot rtport A5 the charlty trusteesof theTrust YOU 8re responsible for the Pr*paraOn of the accounts lth accordance wlth the requlrernentsofthe Charitles Act 2all I'thÈ Atrfl. I report in respect ol my examifiatlon tsf theTrustee's èccounts carrled out under sectlon 145 of the 2011 Act and In carryln8 out my exarnlnotlon I have followed allthe appllcable Dlrertlons glven bythe Ch4rityCommi$5bon undersection 14515llbl of the 2011 Art. Ind¢pendent exgmlnerfs statement I have ccmpleted my eKmlnatlon. I conflmi that no Matla[ matters have comett) my lttentlot) In connectlon wlth the examlnatlon 8lvlTh8 me causeto bellevethat In any rnateri•l respect.. a¢¢ountln8 Tecord5were not kept In respertofthe Trust #s requlred by sectlon 130 of the ACL. or the account5 do noti£¢ord wlth those OrdS or.. the account5do notcomply wlth the appllcable requlr•menis eDncerTrln8th8 forrn Bnd toTrtentof attouttts setout In the Charltle5 IAccountsBnd Reports) Re8ulatlons 2008 otherthan any requ5rement thatthe accountsgivea'true and falr lew, whlch Is not è matter consldered as part ol an Independent ex•mlnallon. I have no concerns ènd havt come across no othér matters sn ¢onnectlon wlth the ex8rnlnaOn towhl¢h attentlon $hovld drawn sn th1$ report In ordeiio en•ble• proper understandlng of the ac¢ounts to be reached, Justln ColllBhan ACA Lymore Pleaslngton Lane 8la¢kburn B82 5JE Date I 11.1102Ir
THE MULCHAND FouNDAaN Flnandalstathments fortheyearended 29 FebN•ry2024 Statementsof ftn3ndalactlvltlÈs 29 F¢brry2oZ4 Vnr•strtCLed 28FÈbyury20Z3 UthYe$triued IncomefromdoTritlo DDnatlons 267.518 1,8Bg InvosimentlThrome- banklntèwt¢etei¥ed 2,137 947 Total 259,655 1837 E¥pendlture Chadiableartlultl 1298.7661 1111,1641 Other rEsouree$ expended-supportcosts WEf INCOME 29.347 108 457 RECONCIUATIIJ4 OFFUND5 TOTAL FUNDSCARRIED FORWARD 29247 108,4S7
THEfvIULCHAND FOUNDATION FI31 Stalementsforthe yearÈAded 29 Febrvgry2024 Balance$hee¢ NDt• F•brnary2024 28Fel%uiry2023 Currentasse 5hatbankand Inknand Prep3ymEnts 203,$32 2,416 204258 ZlS,229 375 23S.6D4 ¢uwr•ntUÈhllttl*s Accuuals zs 25 25 25 206.233 235,S79 Funds Openln8unre5trtrted lund5 rofttdurin¢theye8r aoslngunrestrici•d fvnds 235.579 29.a47 206.233 314,036 108,457 235,S79 Th• IUntsreaptsved by theTmslees Ip liolz¢Z¥ Sft Mul¢h•nd TNSts•
THE MULCHAND FOUNDATION Hnandal statements fortheyear ended 29 February 2024 Statom•nts of finandal actlvitios Accountlnt8 poltdes Ba515 of prqparlngtheflnandal 5tatsments The flnanclal statements havo boen prepared in aecordènce wlth appllcable UK accountlng standards and the Charitie5Act 2011and followthe recomrnendatlons Intheststementof Recommended Practice.. krpuntin8 by Charltles (the SORPI. They have been preparÈd undÈrthe hlstorfcal cost conventlon. A5S¢55ment of 8oln8concern The trustees ¢onslderthat there ave no material uncertalntle$ aboutthe¢harfty'S abllltyto contlnue as a 8oln8 concern. Income All incorng15 reco8n158d In the Statement ol F5nanclal Actlvitle5 once the charlty ha5 8ntltlern¢ntttr the fvnds. It Is probable that the Income wlll be reIVed and the amount cèn be measured rellablv. All luntary Income Is Included In Incomt on rttolpt. Expendltur• U4b511tl85 ar? recosnlsed a5 expendlture as soon as there 55 a le841 Dr con5truLll¥e ob15gatlon commlttinB the ¢harlty to thatexpendlture. It Is probable that a transfer of oconomic benefltswlll be requlred In settlement and the amount of the vbll8atlon tan be rneasured rellabty. Expendlture15 accounted for on an ac¢rual$ ba$5$. AIIo¢8tlon and apportlonmeni of cojts Expenditure has been cla55lfled under headlngsthat ag8reBate all cost related tothe£ate80ry. Where C0$15 ¢JMOt be dlrectlyattrlbuted to partlcular headln8S they have been allocatedto actlvltles on a basls cons15tent wlth the usè ol resourc*s. Taxatlon The charity Is exempt from corporatlon tsx on Its charftsble actIv5e5. Fund attountlNA Unre5trlcted fund5 can be used In accordance wlth the ch3rltableoblectives at the discretlon of the trvstee5. RestrlrtÈd funds tark only be usÈd for particular rÈstrictÈd purposès wkthin the oblÈcts of the thar4ty. RÈstrlctlons arlse when speclfied bythe donororwhen fund5 are ra15Èd for partlcular restdcted purpeses. Furtherexplanatlon ofthe That and purpose of eachfund 1$ intludEd in the ntstes tsTrthe finantlol statements.
THE MUL¢ifAND FOLWDAIIDN Flnn¢WSiattmeiitsforth2yeaTended29 FebDJaryZOZ4 statemEntsof finantlalactlv]U 19 February 20241 18Fibru¥ry 2D23 Lh)natloTr5 267.518 (hrhablÈade$ondWppOrtW Charftabledonotlo Re5cuIGqsoxpO0d IiJ.I 129 111,293 236 299.QOZ Tru5th5'remyrnr•tlonand bpnqffiti Yh•TrUSt14sdo not Fecelveawremun•rnWon. AniWofhbt45s•tsb•tt¥4•Tr1unds Cury•ni •F5•t5 Ur4ortrf(wdfvnth R#StArt•dlunds 206.233 235,S79 2Cfj,23J S79 R•l•t•d pIrtYK1reS JrfD8thoyeJrthoFvund4llvn r•¢•d)naITrJl0laIIIol£Q(2ol3-. £0)from L41t¥xnd Co LtsnItOd,4)rnp&MyOrhlth rtjiy Multhind inOR414TrMvkhandèr•dKicrs.ADyw¥ts ofbdmlnlsteilnithe¢hJrlty4iQ born• byLalt¢KMd CoUmlt4d. JrlnFlho¥oarthe Founditlon lor0d doMtitsniiotDIllwÉ4,00512023..£1srK)IfrornSJnliyMulcThI,a tnMteodib•<hirfty•nd ÉS,7tsJI201Y', £OlfromBh•rJtl Multhpnd,rnOthrof SinliyMul¢fv4nd. Tht(she notixeEYed inv0munqrtOft•tI•lbMAfftln1¢teXp1n5e5r¢hBy1WrtD mpkn¥eeidudr6th•vi¥r, ND •mountswweoutstindlnibqLwttndlhvp•rtylhryy4ir•nd UItIM*t•contIIIThIPo Thecompanywa5contyo11qdbvth•BoirdolTruth•S throu8h(4rttheyEor nr Myllw.