2024-08-31-accounts - The Gurukula Trust

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Charity Number: 1185941

THE GURUKULA TRUST Annual Report and financial statements for the year ended 31 August 2024

Table of Contents Reference and administrative information ........................................................................................ 1 Trustees’ annual report ...................................................................................................................... 2 Statement of responsibilities of the trustees .................................................................................... 5 Independent examiner’s report .......................................................................................................... 6 Statement of Financial Activities as at 31st August 2024 ................................................................ 7 Statement of Financial Position as at 31st August 2024 .................................................................. 8 Notes to the Financial Statements ..................................................................................................... 9

Reference and administrative information

Charity number

1185941

Operational address

Hart Spring Cottage

Elton Way, Watford WD25 8HB

at the time of approving the report and accounts

Country of registration

England & Wales

Country of incorporation

United Kingdom

Trustees

Details of the trustees at the date of this report were as follows

Mohan Luthra Chair

Kunal Kotecha Trustee

Nina Patel Trustee

Tonmoy Mukherjee Trustee

Bankers

Metro Bank

One Southampton Row, London WC1B 5HA

Independent Examiner

STERLING YOUNG LIMITED

Suite 50,238 Merton High Street Wimbledon London SW19 1AU

Trustees’ annual report

The trustees present their report and the independently examined financial statements for the year ended 31 August 2024.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a Trustees’ report as required under trust law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Structure, governance & management

The organization is a charitable trust, incorporated and registered as a charity on 22 October 2019 The trust was established under a Memorandum and Articles of Association which established the objects and powers of the charitable trust and is governed under its articles of association. All Trustees give their time voluntarily and receive no benefits from the charity.

The Trustees review the aims, objectives, and activities of the charity each year. The report looks at what the charity has achieved and the outcomes of its work for the year ending 31 August 2024.

The Trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the Trustees ensure the charity aims, objectives and activities remain focused on its stated purposes.

The trustees commenced their ongoing review of the Charity Governance Code in 2020/21.

Objectives and activities

Purposes and aims

Vision:

That Gurukula retains a personal and unique environment that should always be culturally rich, diverse and creative. We strive to foster a spirit of devotion, expression and kindness to one and all, where a child creates bonds with both their teachers and fellow students that last a lifetime. Through the rigorous and broad education, the Gurukula provides a student gains the ability to pursue their ambitions in all aspects of life.

Mission:

To provide an environment where every child can awaken their loving devotion to Krishna in a natural and spontaneous way thus connecting with the Supreme in a manner, which is neither forced nor imposed, allowing children to discover their true identity by being joyful and knowledgeable. In our small classes, children are challenged in their academics to attain exceptional progress so that they can fulfill their potential, and continue their journey as bright, confident, kind and caring individuals who are eager to serve and can integrate into modern Britain.

Achievements and performance

Summary of Key changes in 2023/2024:

The Trustees maintained a close collaboration with the School’s Senior Leadership to ensure compliance with statutory standards. Progress was made in line with the priorities outlined in the School’s Development Plan, particularly in enhancing Writing and Science. Additionally, efforts were focused on strengthening cross-curricular links and expanding enrichment opportunities. This included initiatives such as engaging School Council Representatives, Eco Warriors, and participating in the Superkind awards.
The Trustees and staff collaborated effectively to boost admissions across all year groups, working towards increasing student numbers to near full capacity of 70. At the beginning of the academic year, the school had 67 pupils on roll. While student numbers decreased slightly by the summer term, efforts remained focused on boosting enrolment and attracting new pupils in the forthcoming academic year.
The Trust received a generous donation to fund the development of a dedicated Art Studio, which was completed shortly after the year-end in September 2024. This new space will provide pupils with a creative environment to explore and enhance their artistic skills.

Training and events for 2024/2025 Training will cover the following topics:

Key documents such as School Development Plan (SDP) and Self Evaluation Form (SEF)
Safeguarding
Safer recruitment
Independent Schools Standards

2023/2024 Event and training & attendees

Three of the Trustees serve on the School’s Governing Body and have attended training on:
Safeguarding and Keeping Children Safe in Education refresher
School Development Plan

In addition, the following courses were completed by the Trustees:

Mohan Luthra: Designated Safeguarding Lead (DSL) training (27/3/2024)

Other achievements and activities moving in 2023/2024

The Trustees have worked closely with the School’s Senior Leadership and together have achieved the following :

Curriculum: Extensive work was carried out by staff and subject leaders to further develop a comprehensive curriculum, with governor monitoring visits showing that improvements were being made across all areas of the curriculum over the course of the academic year.
Enrichment and Community Engagement: Pupils benefitted from a wide range of enrichment activities, special guest visits, and educational and cultural experiences. Highlights included visits from local MPs and the former Deputy Prime Minister, which helped deepen pupils’ understanding of the British value of democracy. Pupil wellbeing remained a key focus, with initiatives to promote mental health, resilience, and a positive school

culture. This included an emotional wellbeing and coping strategies workshop for parents, organised in partnership with Herts Young Minds.

Parental engagement: During 2023/2024, steps were taken to strengthen communication with parents and gather feedback through surveys, meetings and informal discussions, and participation in school events. Building on this, increasing parental voice and engagement will be a key focus for 2024/2025, with plans to create more structured opportunities for involvement and collaboration.

Learning Journey of the trust

Throughout 2023/2024, the Trustees have continued to deepen their understanding of their roles and responsibilities, maintaining a strong focus on strategic priorities and advancing the Trust’s vision. They have worked closely with senior leadership, the Governing Body and staff to ensure ongoing compliance with independent school standards.

Communication and feedback channels between Trustees, staff, parents, and the parent governor have been further strengthened through regular meetings, open forums, emails, and surveys. This continued engagement demonstrates that parents value the School’s efforts, while staff wellbeing has remained a key priority, supported by targeted initiatives to promote a positive and resilient school community.

Financial review

The trust has a surplus of 12,706 which will be used for the welfare of the students by the trustees

Principal risks and uncertainties

Financial sustainability and the charity’s financial model remain a key risk, given its dependency on trust and foundation income. Having identified the basic/lean core team and associated costs that are needed to operate the charity, income generation focuses on securing funding for this; additional project-specific expenditures, including associated staffing costs, are only committed once funding has been secured.

Ensuring the well-being of a small team to deliver a significant workload is also a key area on the trustee’s agenda. More will be done in the refreshed strategy to address this.

Reserves policy and going concern

The Trustees have examined the charity’s requirements for reserves in light of the main risks to the organization. Trustees are committed to generating sufficient funds to support current organizational activities to meet the following requirements:

Safeguarding the charity’s service commitment in the event of delays in receipt of grants or other income.
Providing a financial cushion against risk and future uncertainties.
Resourcing the research and development of services and initiatives. The Trustees established a reserves policy that is reviewed annually to ensure that the appropriate levels of reserves are maintained, and SCC is able to continue to fund its activities without unnecessary disruption as a result of peaks and troughs in income.

Plans for the future

The Trustees will continue to work closely with the School’s Senior Leadership Team to maintain and improve standards across teaching and learning, while ensuring all statutory requirements are met.
Efforts to increase admissions across all year groups will continue, aiming to raise student numbers closer to the school’s full capacity of 70 pupils.
Strengthening parental engagement remains a priority, with plans to develop more structured opportunities for parent involvement and feedback.
The newly completed Art Studio will be fully utilised as a dedicated creative space, enabling pupils to develop and enhance their artistic skills through a range of activities and projects.

Statement of responsibilities of the trustees

The trustees are responsible for preparing the trustees’ annual report the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In preparing these financial statements, the trustees are required to:

Select suitable accounting policies and then apply them consistently
Observe the methods and principles in the Charities SORP
Make judgments and estimates that are reasonable and prudent
State whether applicable judgments i.e UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable trust and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charitable trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable trust's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The trustees’ annual report has been approved by the trustees on 30/06/2024 and signed on their behalf by

Kunal Kotecha Trustee

Independent examiner’s report

I report on the accounts of The Gurukula Trust for the year ended 31 August 2024

Responsibilities and basis of the report

As the charity's Trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Act). You are satisfied that the accounts are not required to be audited by charity law and have chosen instead to have an independent examination.

I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Act; In carrying out my examination I have followed the directions given by the Charity Commission under section 145(5) (b) of the Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement

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 as required by section 130 of the Act; or
2) The accounts do not accord with those records; or
3) The accounts do not comply with the applicable requirements concerning the form and content set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

______ Shoolin Yagnik On Behalf of STERLING YOUNG LIMITED Suite 50, 238 Merton High Street Wimbledon London SW19 1AU Date:30/06/2024

Statement of financial activities (incorporating an income and expenditure account) As at 31 August 2024

As at 31 August 2024
Notes Income 1 Fees & events income Donation & grants from trust Other Total income Expenditure on Charitable activities 2 Administrative expenses Wages and salaries NEST pension HMRC PAYE and NI Audit Fees Insurance Total expenditure Net income / (expenditure) before net gains / (losses) on investments Transfer Between Funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	2024 2023 Unrestricted Total Unrestricted Total £ £ £ 198,462 198,462 184,243 184,243 95,826 95,826 93,929 93,929 7,030 7,030 1,694 1,694
	301,318 301,318 279,866 279,866
	71,449 71,449 50,927 50,927 173,631 173,631 163,983 163,983 7,061 7,061 8,019 8,019 28,115 28,115 32,799 32,799 3,795 3,795 5,400 5,400 4,561 4,561 - -
	288,612 288,612 261,128 261,128

	12,706 12,706 18,738 18,738
	- - - - 12,706 12,706 18,738 18,738
	51,428 51,428 30,890 30,890
	64,134 64,134 49,628 49,628

Statement of Financial Position as at 31[st] August 2024

		2024		2023
	Notes	Unrestricted	Total	Unrestricted	Total
Current Assets		£	£	£	£
Prepaid		2,556	2,556
Cash at Bank in hand	7	63,393	63,393	51,428	51,428

Liabilities:
Creditors: amounts falling due within one		1,815	-	1,800	-
year
Net current assets		64,134		49,628	49,628
Total net assets		64,134		49,628	49,628
The funds of the charity:
Restricted income funds		-	-	-	-
Unrestricted income funds		64,134		49,628	49,628
Total charity funds		64,134		49,628	49,628

Approved by the trustees on 30/06/2024 and signed on their behalf by

______ Kunal Kotecha Trustee

Notes to the Financial Statements

Accounting policies

Statutory information

The charity is not a registered company, incorporated in England and Wales. The members of the trust are the Trustees named on page one. There is no ultimate controlling party.

The charitable trust meets the definition of a public benefit entity under FRS 102.

A. Basis of preparation

The financial statements have been prepared in accordance with 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) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (March 2018).

Assets and liabilities are initially recognized at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

The fictional currency of the charity s GBP (Great Britain Pound)

B. Going concern

The Trustees consider that there are no material uncertainties about the charitable trust's ability to continue as a going concern. There are no key judgments that the charitable trust has made which have a significant effect on the accounts. The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

C. Income

Income is recognized when the charity has an entitlement to the funds, any performance conditions attached to the income

have been met, it is probable that the income will be received and that the amount can be measured reliably.

D. Expenditure

Expenditure is accounted for on an accruals basis. Expenditure on raising funds represents an apportionment to staff costs based on time as well as the cost of external support. Support costs are those costs relating to premises and support functions. Governance costs are those incurred in connection with the administration of the charity and compliance with constitutional and statutory requirements. The charity is not registered for VAT. In common with many other charities, the

Small Charities Coalition expenses are inclusive of VAT which cannot be recovered.

E. Cash at the bank and in hand

Cash at the bank and cash in hand includes cash and the charity's current and deposit accounts; which are immediately accessible.

1. Analysis of Income (Current Year)

		2024		2023
	Notes	Unrestricted	Total	Unrestricted	Total
Income from:	1	£	£	£
Fees		171,939	171,939	131,537	131,537
Books/Clubs/Trips/Events/Sports		26,523	26,523	52,706	52,706
Visa Application Refund		-	-	-	-
Donation		48,435	48,435	36,272	36,272
Grants from Trusts and Foundations
and council		47,391	47,391	57,657	57,657
Other		7,029	7,029	1,694	1,694
Total income		301,318	301,318	279,866	279,866

2.Analysis of Expenditure (Current year)

		2024		2023
Expenditure on:	Notes	Unrestricted	Total	Unrestricted	Total
	2	£	£	£	£
Camera/Printer		-	-	956	956
Children's activities		2,481	2,481	2,460	2,460
Tools
/gardening/adhoc		-	-	3,104	3,104
Stationary and Books		8,800	8,800	9,478	9,478
Nfer Tests				188	188
Audit Fees		3,795	3,795	5400	5400
Refunds/Other
Expense		1,277	1,277	-	-
Maintenance		5,556	5,556	-	-
Art and Studio		14,460	14,460	-	-
Ofsted		2,592	2,592	1,328	1,328
Sports		4,200	4,200	15,940	15,940
Insurance		4,561	4,561	-	-
Admin Fees		3,003	3,003	1,452	1,452
Supply Teaching		29,080	29,080	16,021	16,021
Staff Costs	3	173,631	173,631	163,983	163,983
NEST pension		7,061	7,061	8,019	8,019
HMRC PAYE and NI		28,115	28,115	32,799	32,799
Total expenditure		288,612	288,612	261,128	261,128

3. Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

There are employees on roll of the trust also, the staff cost is analyzed as follows;

		2024	2023
		£	£
Staff Cost
PayrollCharges	Non-teaching Staff	31,964	30,784
PayrollCharges	Teaching Staff	141,667	133,200
Total Staff Cost		173,631	163,983

No employee earned more than £60,000 during the year (2023: nil). Redundancy and termination payments made in the period were zero.

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2023: £nil).

No charity trustee received payment for professional or other services supplied to the charity in the year (2023: £nil). Trustees' expenses are nil.

4. Staff Number

Staff number during the year is 14.

5. Related Party Transaction

Nil

6. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes

7. Movement of Funds (Current year)

	At 1st	Income &	Expenditure &		At 31st
	Sep 2023	gains	losses	Transfer	Aug-2024
	£	£	£	£	£
Unrestricted funds:
Metro Bank	51,428	301,318	-289,353	0	63,393

Total Unrestricted
funds	51,428	301,318	-289,353	0	63,393

Total Funds	51,428	301,318	-289,353	0	63,393

8. The legal status of the charity

The charity is not a company. Hence there is no liability arises.