The Mulchand Foundation Financial statements for the year ended 28 February 2025 Charity number 1181826
THE MULCHAND FOUNDATION Flnanclal Statements for the year ended 28 February 2025 Charity information c.harity rogistratlnn nijmhpr 1181826 Principal offlce Laltex House Leigh Commerce Park Greenfold Way Leigh WN7 3XH Trustees Rajan Mulchand Sanjay Mulchand Venika Mulchand Secretary Carl Price Bankers HSBC Bank PIC 2nd Floor Landmark St Peter's Square l Oxford Street Manchester M14PB Independent examiner Justir) Collighan Lymore Pleasington Lane Blackburn BB2 SJE
THE MULCHAND FOUNDATION Financial Statements for the year ended 28 February 2025 Index to the financial statements Pate Report of the trustees Independent Examlners, report Statement of flnancial actlvitles Balance sheet Notes to the accounts &7
THE MULCHAND FOUNDATION Flnanclal Staternents torthe year ended 28 February 2025 Report to the trustees The Ilnanclal statements of the charlty for the yearended 28 February 2025. The trustee5 have adopted the provlslons of Accounting and Reportlns by Charltles.. Statement of Recommended Practice appllcable to ch8ritie5 preparlng thelr 3ccounts tn accordance wlth the Flnanclal Reportln8 Standard appllcable In the UK and Republit of IrelanLI IFRS 1021 (effective I January 20151. Obj*¢tives and a¢tlvltles The overall objectives of the Charlty are to make donatlons to charltable 1n5tltutlons, for general charltable purposes. Ensuring our work delSvers our a1rn5 Regular meetlngs are held to declde whlch charitsble instltutlons receive donatlons. Publlc Beneflt It Is intended ihèt donations are to be made elllclently, generarlng the greatest benefit to the chosen charifies. The trustee$ have gard to the Charifie5 Comm1551on'5 8uld3nce on pybllc benellt when maklng decls¢ons on donatlons. Flnan¢lal revlew It Is the Intentlon of thÈ trustees to endeavour to malntaln a surplus balance on reStrICted funds, In order to protect the charity against the Impact of shortfalls In earned Income. The unrestritted lund$ at 28 February 2015 are £388,06012024 £206,233). Donatlons received durlng the perlod amounted to £511,49312024 £267,518). wlth charltable donations given out during the year amounted to E332.01012024.. £298,766). Investment Income during the year amounted to £2,62212024 £2,1371. There were no 5Igniflcant events durin8 the year that could affect the financial perforrnance or posltlon golng forward. Future plans The trustee5 Intend to contlnue with the pro8rèmmt of donètiens in the coming year. Strurturel governance and mana8omont G¢verninE Document The Mulchand Foundbtlon. Charlty Commlsslon Number.. 1181826 was created wlth the oblectSve of maklnK donatlons to charitable Institutbn5 In such manner as the trustees maythlnkfit. The charlty Is charltable Incorporated or8anlsation. Recrultment and appointment of newtrustee5 and management commlttee All Trustees were retained during the year. and therefore thÈ Trustees have no Intentions of any new èppolntments in the nearfuwre.
THE MULCHANDFOUNDATION Financlal Statements for the year ended 28 Februèry 2025 Report to the tru5tee5 Organ5sational structure The Foundatlon has three Trustees, who meet on a regulaT basis to monitor, and coordinate donatlons and the general runnlng of the Charlty. Related Partles The Tru5tee5 have controlling 5hare5 in Laltexand CD Limlted. Durlng the period the Foundation recelved donatlons totallSn8 £500.00012024 £250,0001 fiom Laltex and Co Llmlted. Lgltex and Co Llmlted is a company which Mr Sanlay Mulchand and Mr Ralan Mulchand are diiectors. TfUStees' r85ponsibilities lor the linancial statemen1$ The trustees zre responsible lor preparing the Tru5tees' Report and the financlal statements In accordance with appllcable law and re8ulètlons. The law appllcèble to tharltles In Englènd ènd Wales requlres the trustees to prep8re flnanclal statement5 for èath finaficlal year. Under that law the trustees have elected to prepare the Ilnènclal statements In accordance wlth Unlted Klngdom Generally Accepted Actountin8 PraCte Iunlted Kln8dom Accountlng Standards and 3ppllcable lawl. The tfustees must not approve the linancl?I statements unle55 they are sat15fled that they 8lve a true and lalr vlew C>f the state of affairs of the charlty and ol the Income resources and appllcatlon of re50urces, Includlng the Income and expendiiure, of the charlty loi that period. In preparlng thesè flnan¢lal 5taternènts, the trusteè5 are requlred to.. select sultable accountlng pollcles and then apply them con$lsteTrtly; observe the methods ènd prlntlples in the Charltles SORP,. make judgements and accouTrtlng estlmètes that ère reasonable and prudent- state whethèr applicable UK Accounting Standards havÈ been followed, subject to any materlal departures disclosed nd explalned the Ilnanclal statements., and prepare the flnanclal st8tements on the Bolng concern basls unless It Is InapproprlatÈ to presume thai the chariiywlj contlnue la bu51ne55. The trustees art respon51ble for keeping adequate accounting reiords that zre 5ufficlent to show and explaln the charlty's transactions ind d15close wlth reasonable accur8cy at any tlme the flnanclal posltlon ol the charity and enable them to ensure that the financial statements comply with the Charitie5 Act 2011, the Charity IAccounts and Reports) Re£ulatlon5 and the provisions ol the trust deed. They 31e also re5ponslble for safeguardingthe assets of the <harity and hence for takln8 reasonable Steps for the prevention and detection of fraud and other irregL¢larities. BY ORDER OF THE TRUSTEES S R Mul¢hand Trustee Date Ighi&ts
THE MULCHAND FOUNDATION Flnancial Statements for the year ended 28 February 2025 Independent Examlners, Report to the Trustees ofThe Mulchand Foundation I report on the aciounts of the Foundatioft for the year ended 28 Februiry 2025, which are Set out on pages 4 to 8. Respe¢tSve responslbilities and b1515 ¢f report As the charity trustees of the Trustyou are responsible lorthe preparation of the atcounts In actordance wlth the requirements Df th2 Charltles Act 20111.the Act'l. report in respect of my ex3min3tion of the Trustee's accounts carried out under section 145 of the 2011 Acl 3nd In cèrrylng out my Exatnlnatlan I have followed all the appllcable Dlrectlon5 glven by the ChErity Commission under sectlon 145 15llbl of the 2011 A¢t. Independent examlner'5 Statement I have completed my examlnatlon. I confirm ihat no materla1 matters have come to my attention In connectloft with the examinatlon 8ivin8 me cause to belleve ihat In any mater181 respect.. accountlng records were not kept In respect of the Trust as requlred by sectlon 130 01 the Act,. or the accounts do not accord wlth those records or,. the accounts do not comply wlth the appliczble requlrements concerning thÉ form and content ol accounts set out In the Charlties IAccounts and Reports) Regulatlons 2008 other than requlrernènt that thè account$ glve a'true and falr vlew. whlch Is not a matter considered as part ol an Independent eMInatIOn. I have no concerns and have comt acrgss ng other Matters In connectlon wlth the exèmlnatlon to whlch attentlan should bè drawn In this report In order to enable a proper understandlng ol the accounts to be reached. Justln Colllghan Lymore Pleaslngton Lane Blackburn BB2 5JE Date I g 14125
THE MULCHAND FOUNDATION Flnanilal Statementsforthe year ended 28 February2025 ststement5 01 financial aclivllie5 ZB Februry2025 urestrIcted 29 Februry 1024 Unrestrfeted Note Inccme from 4Jnètlons DonatH)ns SILA93 26718 Irjvesimenr income- bank inieiest received 2,622 2,137 Total $14,IlS 269,655 Expendlture Cfr•rftsble aetlvltle$ 1332,0101 1298,7661 other iesources expendod-suppgrt wsis NETINCOME 181,827 RECONCILIATION OF FUNDS TOTAL¥UNDS fARRIEO FORWARD 181,827 29,347
THE MULCHAND FOUNDATION Financial Statements foT theyearended Z8 February 2025 Balance sheet Note 28 F¢¥ry2015 29 Febwary2ts24 Curient •Mets Cash at bank and In hand payrneThts ags,gsg 2,126 388,085 203,832 2,426 A£ccru31s 25 15 2$ 2S 388,060 206,5 Funds QpeThlno unr85(rlcted fund5 ProlitdurSnothe ye8r aoslngunresirlcted fund5 Z06,133 181,827 388,060 23S,$79 29,347 206,233 The accounts were approved by the Trusteeson i Ils Izp25 S R Mul¢h•nd TrStA•
THE MULCHAND FOUNDATION Financial Statèments for thè year èrtdèd 28 February 2025 Statements of flnandal acllvltles A¢¢¢untlntg pollcles Basls of pyeparlng the flnanclal statement5 The flnanclal statements have been prepared in accordance with applScable UK accountlng standards and the Charitie5 Act 2011 and follow the recommendatlons In the Statement of Recommended Practice.. Accounting bv Charitie5 Ithe SORPI. They have been prep3red under the historical cost Conventlon. A55e55ment of Bolng concern The trustees conslder that there are no materlal uncertalntles about the ch3rity'5 abllity to contlnue as a 8oln8 concern. Income All Income Is reco8nised in the St&ternent of Flnanclal Actlvltles once the charlty ha5 entltlernent to the funds, It Is probable ihat the Income wlll be recelved and the amount can be measvred rellably. All voluntary Income 1$ Included In Sncome on recelpt. Expendlture Llabllitles afe recognlsed as expendlture as soon as there Is g legg1 or constructive obll8atlon commlttlng the charlty to that expenditure, It Is probèblt that a transfer ol economlc beneflt$ w511 be requlred In settlement and the amount of the obllgatlon can be measured rellably. Expenditure Is accounted for on an accrua15 bas15. Allocatlon and apportlonmtnt of costs Expendlture has been classif¢ed under headlngs that aggregate all cost related to the category. Where costs cannot be dlrectly attrihuted to partlcular headlngs they have been èllocated to actlvlties on a basls cons15tent wlth the use of resources. Taxatlon The charltyls exempt from corporarlon tax on Its charltable actlvltie5. Fund accountlng Unrestrlcted funds can be used In accordance with the charltable Dbjectlves at the dIsCtIOn of the trullees. Restricted fund5 can only be used for p3rtlcular re$trScted purposes wlthln the objects of the charlty. Restrlrtlons arise when specified by the donor or ¥Yhen funds are raisetl for particular restricted purposes. Furthef explanatton ol the nature and purposo of each fund 15 included in the notes to the financial statements.
THE MULCHAND FoUNDATN Flnanelal ststsmenr6 for iheyeaiended 28 F•bary2025 Staioments of fiywnclal actIvI5 28 February 20ZS 28Febn¢•ry 2024 DonaUNs 511,493 267,S18 Ch4ritabl¢ 8ttiVili¢s•rtd support ¢o>is Ch31itsble dDnatbD5 Resources expended 332.DlO 278 332.287 29B,766 236 794.00? Tlu%lAI' imurtrIlohr b#h1t$ Th•TFustees donot receeaDYrernUnerlll0n. Anal[01nII1mt$bitW1•n funds Currqntass•ts Unwe5tr1rtd lunds 388,060 206,233 Ttyt•llur¥s JB8,060 206,133 Relatedp4rty d0u[lI OuDnsth¢voortho Found?tlun ietEW don•¢loni¢ul1i£S0o,co[2O24'. E250,0001 froffl L11t ènd Cr>Llrnitsd. 4 cornpJnyol whkhSJnl•y Mvlch•ndandR•lan Mul¢hand¥reélrectors.Anyw$tsof •dmlnl$t•rln8 rho £harty are bomE by Liltèi •od CoLknW. 0urln8th1y1l Founditltsn r•c•lwd donitlons totilllrts £3,CpJ312014.£4,W51 frornS4nlayMulchand. a Iruste•olth•chaFlty•nd £5.5fpll2OZ4 £5.7001 Ircm Bharotl Mulchand. motherof 53nl4¥Mulchand. TtrUst1h noi r•¢eiv•dany r•murteroiionorfiimbuuemerti tyf e•n$•$ Ind Ihi¢w•M no•nWoyeesdurfn8thewr. LTrJmwntswere oulStindln8 beiwttn •lthorpBrty Itthiyearond Ulllmi coMrollknE pJrty Th• cornpanywaseontiolltd by th•Ao•rd4lTfY$tee$ thmuihoutlheyÈ•f y*r ievlew.