**REGISTERED COMPANY NUMBER: 11717857 (England and Wales) REGISTERED CHARITY NUMBER: 1184941**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024**
## **FOR**
## **REKHTA FOUNDATION UK**
Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
**REKHTA FOUNDATION UK**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024**
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Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 11
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**REKHTA FOUNDATION UK**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st December 2024. The trustees have adopted the provisions of 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**
## **Objectives and aims**
The Rekhta Foundation UK (the "UK Foundation") is a charitable organisation that promotes the arts, culture and heritage of the Indian subcontinent.
The principal object of the Foundation is to promote Urdu and other languages of South Asia, ie the Indian subcontinent. The Urdu language is spoken by more than 100 million people across the world, predominantly in South Asia. It is closely related to Hindi but also shares similarities with Persian and Arabic. Urdu culture is a distinctive and influential element, particularly important for poetic, dramatic and musical expression.
The Foundation operates in two main fields:
1. The Trust aims to advance arts, culture and heritage in the language, literature and culture of South Asia, in particular culture associated with Urdu.
The charity does this by
a. Organising programmes and events designed to engage and enlighten audiences about Urdu and other South Asian cultures. These will take the form of seminars, symposia and especially performances of poetry, drama, music and film, accompanied by related cultural activities.
b. Organising literary and cultural seminars, discussions, competitions and other encounters designed to promote the study and diffusion of Urdu and other South Asian cultures
2. The Trust aims to advance education in the language, literature and culture of South Asia, in particular (but not limited to) in relation to writing in Urdu.
The charity does this by
a. Organizing cultural events of different shapes and sizes for students, scholars and the public, including discussions, seminars and participative literary sessions.
b. establishing, maintaining and running programmes of studentships, scholarships and rendering other kinds of aid to students including supply of books, stipends, prizes, and other incentives to study Urdu and other South Asian languages. c. creating facilities for the advancement and propagation of Urdu and other South Asian languages including the establishment, maintenance and support of educational institutions and programmes, for academic study, creative writing and language training.
3. The Charity will also grant aid in cash or in kind or provide other financial assistance to other charitable institutions with similar objectives.
Note: Rekhta Foundation in India is a non-profit organisation in India devoted to the preservation and promotion of the Urdu language, its literature and culture worldwide. It operates from India a free online resource, www.rekhta.org, which is the world's largest repository of Urdu poetry and literature. The Indian Foundation hosts a number of events across India, the Middle East and North America in order to celebrate Urdu's splendour and versatility.
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**REKHTA FOUNDATION UK**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 31ST DECEMBER 2024**
## **OBJECTIVES AND ACTIVITIES**
## **Public benefit**
In shaping our objectives and planning our activities for the year, the Trustees have given consideration to the duties set out in Section 17(5) of the Charities Act 2011 to have due regard to public benefit and to the Charity Commission Guidance on public benefit. In particular, the Trustees have considered how the planned activities will contribute to the overall aims and objectives that they have set.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
Rekhta UK Foundation (RUF) commenced active work in February 2020. Our first major event held by RUF was a multi-cultural event held in Westminster Chapel in London in October 2023, attracting a live audience of almost 1,500 spectators, as well as considerable online attention. The Foundation could not hold any follow-up event in 2024 and has yet to decide whether it is in a position to plan for one in 2025 or 2026.
## **FINANCIAL REVIEW**
## **Financial position**
In 2024, the charity had minimal activity and after converting its £25,000 loan into a grant in October 2024 ended the year with a cash balance of £12,531.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The Board holds one to two meetings a year plus exceptional meetings as required during the preparation of specific events or programmes.
## **Members' liability**
Each member has undertaken to contribute a maximum of £1 in the event of the Charity being wound up.
## **Key risks**
The board of Trustees review major risks to which the charity is exposed on a regular basis, with our full risk register updated on an annual basis and regularly to mitigate identified risks. The board of Trustees is appraised of any major risks, both internal and external, by the accounting team, which is aided by inputs from individual trustees.
A further risk to the charity relates to cyber security and IT systems. As a result of this identified risk, work has been carried out this year by our accountants to strengthen the organisation and mitigate this threat.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
11717857 (England and Wales)
## **Registered Charity number**
1184941
## **Registered office**
Flat 314 8 Dean Ryle Street London United Kingdom SW1P 4DA
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**REKHTA FOUNDATION UK**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 31ST DECEMBER 2024**
## **Trustees**
Ms R Kumar D M Peck S Saraf Ms H Khalil
## **Independent Examiner**
Dr Shona F Wardrop C.A. Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
## **Bankers**
Barclays Bank plc Leicester Leicestershire, LE87 2BB,
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees (who are also the directors of Rekhta Foundation UK for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 14[th] March 2025and signed on its behalf by:
D M Peck - Trustee
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**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF REKHTA FOUNDATION UK**
## **Independent examiner's report to the trustees of Rekhta Foundation UK ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2024.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Dr Shona F Wardrop C.A.
Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
Date: 20[th] March 2025
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**REKHTA FOUNDATION UK**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31ST DECEMBER 2024**
|2024
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
27,000
Other trading activities
2
-
**Total**
27,000
**EXPENDITURE ON**
**Charitable activities**
Event costs
1,754
Other
-
**Total**
1,754
**NET INCOME/(EXPENDITURE)**
25,246
**RECONCILIATION OF FUNDS**
Total funds brought forward
(13,195)
**TOTAL FUNDS CARRIED FORWARD**
12,051|2023
Total
funds
£
51,000
29,051
80,051
131,111
1,084
132,195
(52,144)
38,949
(13,195)|
|---|---|
The notes form part of these financial statements
Page 5
**REKHTA FOUNDATION UK (REGISTERED NUMBER: 11717857)**
## **BALANCE SHEET 31ST DECEMBER 2024**
|2024
Unrestricted
fund
Notes
£
**CURRENT ASSETS**
Cash at bank
12,531
**CREDITORS**
Amounts falling due within one year
5
(480)
**NET CURRENT ASSETS/(LIABILITIES)**
12,051
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
12,051
**NET ASSETS/(LIABILITIES)**
12,051
**FUNDS**
7
Unrestricted funds
12,051
**TOTAL FUNDS**
12,051|2023
Total
funds
£
12,405
(25,600)
(13,195)
(13,195)
(13,195)
(13,195)
(13,195)|
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.
## The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 14[th] March 2025 and were signed on its behalf by:
D M Peck - Trustee
The notes form part of these financial statements
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**REKHTA FOUNDATION UK**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in sterling which is the functional currency of the entity, and are rounded to the nearest £1.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.
## **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.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Taxation**
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK Corporation Tax purposes. Accordingly the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **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.
continued...
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**REKHTA FOUNDATION UK**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024**
## **1. ACCOUNTING POLICIES - continued**
## **Judgements and key sources of estimation uncertainty**
In the application of the charity's accounting policies, the charity is required to make judgments, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both the current and future periods.
There are no estimates and assumptions that are considered to have a significant risk of causing a material adjustments to the financial statements in a future period.
## **Financial instruments**
The charity has only financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and are subsequently measured at their settlement value with the exception of bank loans which are measured at amortised cost using the effective interest method.
## Financial Assets
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any discounts due.
## Financial Liabilities
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due
## **2. OTHER TRADING ACTIVITIES**
|Fundraising events|2024
£
-|2023
£
29,051|
|---|---|---|
continued...
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**REKHTA FOUNDATION UK**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024**
## **3. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||2024|2023|
|---|---|---|
||£|£|
|Independent examination fees|480|600|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31st December 2024 nor for the year ended 31st December 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31st December 2024 nor for the year ended 31st December 2023.
## **5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other loans (see note 6)
Accrued expenses
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Other loans|2024
£
-
480
480
2024
£
-|2023
£
25,000
600|
|---|---|---|
|||25,600|
|||2023
£
25,000|
## **6. LOANS**
continued...
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**REKHTA FOUNDATION UK**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024**
## **7. MOVEMENT IN FUNDS**
|**MOVEMENT IN FUNDS**||||
|---|---|---|---|
|||Net||
|||movement|At|
||At 1/1/24|in funds|31/12/24|
||£|£|£|
|**Unrestricted funds**||||
|General fund|(13,195)|25,246|12,051|
|**TOTAL FUNDS**|(13,195)|25,246|12,051|
|Net movement in funds, included in the above are as follows:||||
||Incoming|Resources|Movement|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|27,000|(1,754)|25,246|
|**TOTAL FUNDS**|27,000|(1,754)|25,246|
## **Comparatives for movement in funds**
|At 1/1/23
£
**Unrestricted funds**
General fund
38,949
**TOTAL FUNDS**
38,949
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
80,051
**TOTAL FUNDS**
80,051|Net
movement
At
in funds
31/12/23
£
£
(52,144)
(13,195)
(52,144)
(13,195)
Resources
Movement
expended
in funds
£
£
(132,195)
(52,144)
(132,195)
(52,144)|
|---|---|
continued...
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**REKHTA FOUNDATION UK**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024**
## **8. RELATED PARTY DISCLOSURES**
As reported last year, the loan of £25,000 made by Mr S Saraf, a Trustee, was converted into a grant at the charity's option at the point when that option became available in October 2024.
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