Charity number: 1188703
KARTIK PRABHU MEMORIAL FOUNDATION
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

KARTIK PRABHU MEMORIAL FOUNDATION
CONTENTS
Page
Reference and Administrative Details of the Charity. its Trustees and Advisers
Trustees. Report
Independent Examiner's Report
statement of Financial Activities
Balanco Sheot
Notes to the Financial Statements
8-19

KARTIK PRABHU MEMORIAL FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
Tushar Sudhakar Prabhu
John Kenneth Fowler
Rewati Tushar Prabhu, Chair
Sudhanshu Palsule
Charity registered
number
1188703
Registered office
20 Pelham Street
London
SW7 2NG
Independent Examiner
lan Saunderson FCA
BKL Audit LLP
35 Ballards Lane
London
N3 1XW
Page 1

KARTIK PRABHU MEMORIAL FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annu81 report together with the financial statements of the Charity for the period from
1 April 2023 10 31 March 2024.
Objectives and activities
a. Polieies and objectives
The Kartik Foundation (Kartik Pmbhu Memorial Foundation) objects are lo act 8S 8 resource for young and
disadvantaged people lo advance in life by providing advice and assistance towards educational programmes,
skill development inilialives and other activities as 8 means of developing their skills, capacities and c8pabilities
lo enable them to P8rtiClP8te in society as independent, m8tuo and responsible individuals.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidanee
published by the Charity Commission relating lo public benefit, including the guidance 'Public benefit." running 8
charity IPB21'. The Charity is not governed by the Companies Act.
b. Main activities undertaken to further the Charity's purposes for the public benefit
The foundation has established a grant making policy lo achieve its objeels for the public benefit.
During the year the charity made donations lo a range of UK eharilies with the value of grants totalling £7,000
12023. £12,950).
Achievements and performance
a. Main achievements of the Charity
Income received during the year was £76,003 12023". £401,870). The Iruslees are satisfied with the
achievements of the charity during the period.
Financial review
a. Going coneem
After making appropriate enquiries, the Trustees have 8 reasonable expectation that the Charity has adequate
resources to eontinue in operational existence for the foreseeable futu￿. For this reason, they continue lo adopt
the going eoncern basis in preparing thè financial stalemenls. Further details regarding the adoption of the going
concem basis Can be found in the accounting policies.
b. Reserves policy
The Trustees set out lo maintain an adequate level of reserves to continue the charity's operations, al the year
end this amounts to £1,514,782. The Trustees, however, recognise the significant level of reserves held in
comparison lo the expenditure of the Charity and have made plans for the following financial year, as further
detailed in the plans for future periods section of this report, to utilise the funds available in line with their
objectives leading to 8 significant increase in charitable expenditure. All the funds of the Trust are unrestricted.
The trustees have identified no significant short or medium term financial risks to the eharity's continued
operations, and therefore the accounts have been prepared on the going COn￿M b8SIS.
Page 2

KARTIK PRABHU MEMORIAL FOUNDATION
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2024
Structure, govemance and management
a. Constitution
Kartik Prabhu Memori81 Foundation is a Charitable IncorF)or8ted Organis8tion, charity, number 1188703, and is
constituted under a consb'tution dated 23 March 2020.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the
terms of the Trust deed.
Plans for future periods
The charity is embarking upon an ambitious set of initiatives lo further ils mission of helping disadvantagèd
children and people fulfil their potential. Four in particular were being planned in FY 23124 and are now firmly
underway".
a. Wrilespace." An initiative with Westminster School, a registered charity, to run a diverse series of creative
writing workshops for students in the Lower Sixth Form. Participants will be equally diverse, as they will be
drawn for the first lime from both Westminster School and 21 non-fee-paying schools in ils vicinity, and taught in
mixed c18sses.
b. Gr8dvisor." An initiative with Inlouniversity, 8 registered charity, to create a plafform that helps students from
disadvantaged backgrounds choose their A levels and University courses on the basis of improved information
regarding potential caoers. The p18tform will be delivered as both a website and a mobile app.
c. ReFab. An initiative to upcycle fabrics donated by global brands into lifestyle products like totes and zip
pouches while also upskilling women from disadvantaged backgrounds, who tailor the products.
d. Access Intems." An initiative in collaboration with Variety, the Children's Charity, to place young people with
disabilities into paid job experience roles, providing a pathway to future employment opportunities.
Page 3

KARTIK PRABHU MEMORIAL FOUNDATION
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2024
Statement of Trustees. responsibilities
The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting
Practice).
The law applicable to charities in England & Wales requi￿$ the Trustees to prepare financial statements for
each financial which give a true and fair view of the stale of affairs of the charity and of ils incoming resources
and application of resources, including ils income and expenditure, for that period. In preparing these financial
statements, the Trustees are required to".
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP IFRS 1021",
make judgments and accounting estimates that are reasonable and prudent",
stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material
departures disclosed and explained in the financial stalemenls.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain
the Charity's transactions and disclose with reasonable accuracy al any time the financial position of the Charity
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 Charity and hen￿ for taking reasonable steps for the prevention
and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by..
John Kenneth Fowler
ITrusteel
Dale.. 0610212025
Page 4

KARTIK PRABHU MEMORIAL FOUNDATION
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Independent Examinerfs Report to the Trustees of Kartik Prabhu Memorial Foundation (Yhe
Charity'l
I report lo the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March
2024.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in aceordanee with the
requirements of the Charities Act 20111'lhe 2011 Act'l.
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and
in carrying out my examination I have followed the applicable Directions given by the Charity Commission under
section 14515llbl of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no mallers have come lo my allenlion in connection with the
examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act", or
the accounts do not accord with those records., or
the accounts do not comply with the applicable requirements con￿MIng the form and conlenl of
accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'true and fairf view which is not a matter considered as part of an independent
examination.
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 understsnding of the accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities
IAccounts and Reports) Regulations 2008. My work has been undertaken so that I might stale to the Charity's
Trustees those maller5 1 am required lo slate to them in an Independent Examiner's Report and for no other
purpose. To the fullest extent permitted by law, I do not accept or assume responsibility lo anyone other than the
Charity and the Charity's Trustees as a body, for my work or for this report.
Signed..
Dated.. 0610212025
lan Saunderson FCA
BKL Audit LLP
Chartered Accountsnts
London
Page 5

KARTIK PRABHU MEMORIAL FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 MARCH 2024
Total
Total
funds
funds
17 Months lo
2024 31 March 2023
Unrestricted
funds
2024
Income from:
Donations and legacies
Investments
31,577
44.426
31,577
44.426
394, 788
7,082
Total income
76,003
76,003
401,870
Expenditure on:
Charitable activities
62.960
62.960
59,875
Total expendlture
62,960
62,960
59,875
Net income before net losses on investments
Nel losses on investments
13,043
110.9671
13,043
110.9671
341,995
(18,511)
Net movement in funds
2,076
2,076
323,484
Reeoneiliation of funds..
Total funds brought forward
Nel movement in funds
1.512,706
2,076
1.512,706
2,076
1, 189,222
323,484
Total funds carried forward
13
1,514,782
1,514,782
7,572,706
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 10 19 form part of these financial slatemenls.
Page 6

KARTIK PRABHU MEMORIAL FOUNDATION
REGISTERED NUMBER..
BALANCE SHEET
AS AT 31 MARCH 2024
31 March
2024
31 March
2023
Note
Investments
181,990
71,342
181,990
71,342
Current assets
Debtors
Investments
Cash al bank and in hand
10
255,678
980,000
130.306
254, 152
750.278
453,645
1,365.984
1,458,075
Creditors.. amounts falling due within one
year
12
{33,192)
(16,71lJ
Net current assets
1.332.792
1,441,364
Total assets less current liabilities
1,514,782
1,512,706
Total net assets
1,514,782
1,512,706
Charity funds
Unrestricted funds
13
1,514,782
1,512,706
Total funds
1,514,782
7,572,706
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by..
John Kenneth Fowler
ITrusleel
Dale.. 0610212025
Page 7

KARTIK PRABHU MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
1.1 Basis of preparation of financial ststements
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021
Accounting and Reporting by Charities". Slalement of Recommended Practice applicable lo charities
preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffeclive 1 JanLJary 20191, the Financial Reporting Standard
applicable In the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
Kartik Prabhu Memorial Foundation meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are inilialty reC[￿nised al historical cost or transaction value unless otherwise
stated in the relevant accounb.ng policy.
These accounts show the results for the parent charity alone and do not consolidate the results of the
two subsidiary companies Sin￿ due to the size of the group the Charities SORP does not require
group accounts to be prepared.
1.2 Income
All income is recognised once the Charity has entillemenl to the income, il is probable that the
income will be received and the amount of income receivable can be measured reliably.
Income lax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third paty, 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 classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, Including support costs
inVo￿ed in undertaking each activity. Direct costs attributable lo a single activity are allocated directly
to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributable lo a single activity are apportioned between those activities on a basis consistent with
the use of resoLJrces. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on direcUy undertaking the activities which further the
Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer
is conditional, such grants being recognised as expenditure when the conditions attaching are
fulfilled. Grants offered subject to conditions which have not been mel at the year end are noted as a
commitment, bul not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
1.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amoLJnt can be measured
reliably by the Charity., this is normally upon notification of the interest paid or payable by the
institution with whom the funds are deposited.
Page 8

KARTIK PRABHU MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies Icontinuedl
1.5 Investments
Fixed asset investments are a form of financial instrument and are initially recognised al their
transaction cost and subsequently measured al fair value at the Balance Sheet dale, unless the value
cannot be measured reliably in which case it is measured al cost less impairment. Investment gains
and losses, whether realised or unrealised, are combined and presented as 'Gainsl{Lossesl on
investments, in the Statement of Financial Activities.
Investments in subsidiaries are valued al cost less provision for impairment.
1.6 Debtors
Trade and other debtors are recognised al the settlement amount after any trade discount offered.
Prepayments are valued al the amount prepaid net of any trade discounts due.
1.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three months or less from the dale of acquisition or opening of the deposit or similar account.
1.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balan￿ Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in selllemenl, and the amount
of the selllement can be eslimaled reliably.
Liabilities are recognised at the amount that the Charity anlicipales il will pay lo sellle the debt or the
amount il has re￿iVed as advanced payments for the goods or services it musl provide.
Provisions are measured at the best estimate of the amounts required lo sellle the obligation. Where
the effect of the lime value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rale that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
1.9 Period of Accounts
The year end for the Charity is 31 March 2024. The prior year figures relate lo the year from 5th May
2022 10 31st March 2023.
1.10 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the Charity lo the fund in respect of the year.
1.11 Fund accounting
General fvnds are unreslricled fvnds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Investment income, gains and losses are allocated to the appropriate fvnd.
Page 9

KARTIK PRABHU MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Income from donations and legacies
Unrestricted
Total
funds
funds
Year ended Year ended
31 March
31 March
2024
2024
Donations
31,577
31,577
Unrestricted
funds
Period
Ended
37 March
2023
Total
funds
Period
Ended
31 March
2023
Donations
394, 788
394, 788
Investment income
Unrestricted
Total
funds
funds
Year ended Year ended
31 March
31 March
2024
2024
Bank interest
44,426
44,426
Unrestricted
funds
f I month
period
ended
31 March
2023
Total
funds
I f month
period
ended
31 March
2023
Bank interest
7,082
7,082
Page 10

KARTIK PRABHU MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of grants
Grants to
Total
institutions
funds
Year ended Year ended
31 March
31 March
2024
2024
Supporting good causes
7,000
7,000
Grants to
Total
Institutions
funds
11 month
11 month
period ended period ended
37 Ma￿h
31 MarGh
2023
2023
Supporting good causes
12,950
12,950
Analysis of grants Icontinuedl
2024
2023
Main recipients of institutional grants
Durrel Wildlife Conservation Trust
Variety The Children's Charity
ORT UK
1,500
10,450
1,000
7,000
7.000
12.950
Page11

KARTIK PRABHU MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted
funds
Total
Year ended Year ended
31 March
31 March
2024
2024
Supporting good causes
62,960
62,960
un￿Stricted
funds
17 month
period
ended
37 Ma￿h
2023
Total
1 I month
period
ended
31 MarGh
2023
Supporting good causes
59,875
59,875
Analysis of expenditure by activities
Grant
funding of
Support
Total
a¢tivitie$
osts
funds
Year ended Year ended Year ended
31 March
31 March
31 March
2024
2024
2024
Supporting good causes
7,000
55,960
62,960
Page 12

KARTIK PRABHU MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of expenditure by activities Icontinuedl
Grant
funding ol
activities
11 month
period
ended
31 MarGh
203
Support
Gosts
17 month
P8riod
ended
31 March
203
Total
funds
11 month
period
ended
31 MarGh
203
Supporting good causes
12,950
46,925
59,875
Analysis of support costs
Supporting
good
Total
causes
funds
Year ended Year ended
31 March
31 March
2024
2024
Staff costs
22,627
11,7041
441
22,627
11,7041
441
Bank charges
Postage
So￿are
1,247
3,246
1,247
3,246
Accounting
k li
Independent Examination
Insurance and training courses
Fees
Travel
Subsistence
TelecommLJnication
Hardware
Social Security
Legal fees
Sundry
Parking
1,500
2,033
102
5,840
2,433
17,327
328
25
1,500
2,033
102
5,840
2,433
17,327
328
25
400
400
110
110
55,960
55,960
Page 13

KARTIK PRABHU MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of expenditure by activities Icontinuedl
Analysis of support costs Icontinuedl
Supporting
good causes
11 month
P8riod
ended
31 March
2023
Total
funds
11 month
period
ended
31 MarGh
2023
Staff costs
Bank charges
Postage
So￿are
Accounting
Independent Examination
CAF Contribution
CAF Fee
NCVO Contribution
Travel
20,521
1,403
64
1,800
1,058
1,380
3,501
181
48
4,336
3,171
1,217
6,220
126
20,521
1,403
64
1,800
1,058
1,380
3,501
781
48
4,336
3,171
1,217
6,220
126
Subsistence
Entertainment
Telecoms
Hardware
Legal fees
Sundry
Repairs
1,430
216
253
1.430
216
253
46,925
46.925
Page 14

KARTIK PRABHU MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
staff costs
1 I month
period
ended
31 March
2023
Year ended
31 March
2024
Wages and salaries
Social security costs
Contribution lo defined contributi'on pension schemes
22.251
339
37
19.495
1,026
22,627
20,521
The average number of persons employed by the Charity during the year was as follows..
1 I month
period
endgd
31 March
2023
No.
Year ended
31 March
2024
No.
Employee
No employee re￿iVed remuneration amounting to more than £60,000 in either year.
The total employee remuneration and benefits of the key management personnel of the Charity were £Nil
12023 £Nill.
Trustees. remuneratlon and expenses
During the year, no Trustees re￿iVed any remuneration or other benefits {2023- £NIL).
During the year ended 31 March 2024, £9,81412023". £6,226) Trustee expenses were incurred.
Page 15

KARTIK PRABHU MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Fixed asset investments
Investments
in
subsidiary
Listed
Unlisted
companies investments investments
Total
Cost or valuatlon
At 1 April 2023
Additions
Disposals
Revaluations
69,065
2,275
71,342
180,000
158.3851
110,9671
180,000
158.385}
110,680}
12871
At 31 March 2024
180,002
1,988
181,990
Net book value
At 31 March 2024
180,002
1,988
181,990
At 37 March 2023
69,065
2.275
71,342
Page 16

KARTIK PRABHU MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Fixed asset investments (continued)
Principal subsidiaries
The following were subsidiary undertakings of the Charity..
Names
Registered office or principal Principal activity
place of business
Holding
Gradvisor Ltd
ReFab Trading Limited
England and Wales
England and Wales
Supporting students
Selling of bags
100Q
100Q
The financial results of the subsidiaries for the year were..
Names
ProfitllLossl
I Surplusl
(Deficit) for
the year
Net assets
Gradvisor Ltd
ReFab Trading Limited
180.000
144.308)
144.308)
10. Debtors
2024
2023
Due within one year
Trade debtors
260
Owed by group companies
Gift aid
64,518
190,900
63,252
190,900
255.678
254. 152
11.
Current asset investments
2024
2023
Term deposit
980,000
750,278
Page 17

KARTIK PRABHU MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
12. Creditors: Amounts falling due within one year
2024
2023
Trade creditors
Amounts owed to other participating interests
Other laxalion and social security
Other creditors
Accruals and deferred income
9.712
2.924
2,912
2,677
1,902
9.220
1,502
15.109
33.192
16,711
13. Statement of funds
Statement of funds - current year
Balance at
31 Mareh
2023
Balance at
31 Mareh
2024
Galnsl
(Losses)
Income Expendlture
Unrgstrictgd funds
General Funds - all funds
1,512,706
76,003
162,9601
110,967} 1,514,782
statement of funds - prior year
Balanc8 at
31 MarGh
2023
Balan￿ at
4 May 2022
Gains/
(Loss&s)
Income Expenditure
Unrestricted funds
Reserves
1, 189,222
401,870
(59,875)
(18,51lJ
1,512, 706
Page 18

KARTIK PRABHU MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14.
Analysis of net assets between funds
Analysis of net assets between funds - current period
Unrestricted
funds
2024
Total
funds
2024
Fixed asset investments
181,990
1,365,984
133,1921
181,990
1,365,984
33,1921
Current assets
Creditors due within one year
Total
1,514,782
1.514,782
Anatysls of net assets between funds - prlor perlod
Unrestricted
funds
2023
Total
funds
2023
Fixed asset investments
Current assets
Creditors due within one year
71,342
1,458.075
(16,771J
71,342
1.458,075
f76,711)
Total
1,512,706
1,512,706
15.
Pension commitments
16.
Related party transactions
During the year, the charity received donations, including Gift Aid & donated shares, tolalling £24, 145
12023.. £393,750) from Tushar Prabhu, a Trustee.
During the year, grants of £7,00012023'. £10,450) were paid lo Variety The Children's Charity, a charity lo
which Tushar Prabhu is also a Trustee.
£61,594 is owed to the charity by the subsidiaries. £2,924 Is owed to Gradvisor Ltd and £64,518 is
owed by ReFab Trading Limited.
During the year, there was a £180,000 share Sub￿riptIon in Gradvisor Ltd.
Furthermore, an interest free loan of £1,50012023.' £1,500) is still repayable on demand. It was provided
lo the charity by Tushar Prabhu.
Page 19