Charity number: 1188703
KARTIK PRABHU MEMORIAL FOUNDATION
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

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
8-17

KARTIK PRABHU MEMORIAL FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2025
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
Edward Passmore 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 financi81 statements of the Charity for the year ended
31 March 2025.
Objectives and activities
a. Polieies and objectives
The Kartik Foundation IKartik Prabhu Memorial Foundationl objects are to act as a resource for young and
disadvantaged people lo advance in life by providing advice and assistance Iow8rds educational programmes,
skill development initiatives and other activities 8s a means of developing their skills, capacities and capabilities
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 guidance
published by the Charity Commission relating to public benefit, including the guidanee 'Public benefit". running
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 v81ue of grants totalling £45,640
12024. £7,000).
Achievements and performance
a. Main achievements of the Charity
Income re￿iVed during the year was £326,858 12024." £76,003). The trustees are satisfied with the
achievements of the charity during the period.
Financial review
a. Going coneem
After making 8ppropriale enquiries, the Trustees have a reasonable expectation that the Charity has adequate
resources lo continue in operational existence for the foreseeable future. For this reason, they continue lo adopt
the going concern basis in preparing the financial statements. Further details regarding the adoption of the
going concern basis ean be found in the aceounling policies.
b. Reserves policy
The Trustees set out to maintain an adequate level of reserves lo continue the charity's operations, at the year
end this amounts lo £1,712,279. The Trustees, however, recognise the signifie8nt level of reserves held in
comparison to the expenditure of the Ch8rily and have made plans for the following financial year, as further
detailed in the plans for future periods section of this report, lo ulilise the funds available in line with their
objectives leading lo a significant increase in charitable expenditure. All the funds of the Trust are unrestricted.
The trustees have identified no significant short or medium term financi81 risks to the charity s Continued
operations, and therefore the accounts have been prepared on the going COn￿M b8SIS.
Page 2

KARTIK PRABHU MEMORIAL FOUNDATION
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2024
Structure, govemance and management
a. Constitution
Kartik Prabhu Memorial Foundation is 8 Charitable Incorporated Org8nisation, 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 24125 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. Gradvisor." An initiative with Inlouniversity, a registered Charity, to create a platform 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 a website.
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. Aecess Intems". An initiative in collaborab'on with Variety, the Children's Charity, lo 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 ICONTINUEDI
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 requires the Trustees lo prepare financial statements for
each financial which give a true and fair view of the slate of affairs of the eharily and of ils incoming resources
and application of resources, including its income and expenditure, for that period. In preparing these financi81
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 Stsndards IFRS 1021 have been followed, subject lo any
material departures disclosed and explained in the financial statements.,
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 lime 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 hence 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..
3010112026
Page 4

KARTIK PRABHU MEMORIAL FOUNDATION
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2025
Independent Examinerfs Report to the Trustees of Kartik Prabhu Memorial Foundation (Yhe
Charity'l
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March
2025.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in 8ecord8nce 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
Since the Charity's gross income exceeded £250,000 your examiner musl be 8 member of 8 body listed in
section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member
of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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 content 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 COn￿rn5 and have come across no other matters in connection with the examinats'on to which
attention should be drawn in this report in order lo enable a proper understsnding of the accounts lo be
reached.
This report is made solely to the Charity's Trustees. as a body, in awordance with Part 4 of the Charities
IAccounts and Reports) R￿ulationS 2008. My work has been undertaken so that I might stale lo the Charity's
Trustees those matters l am required to slate to them in an Independent Examiner's Report and for no other
purpose. To the fullest exlenl permitted by law, I do not accept or assume responsibility to anyone other than
the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed..
Dated. 3010112026
Edward Passmore FCA
BKL Audit LLP
Chartered Accountsnts
London
Page 5

KARTIK PRABHU MEMORIAL FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2025
Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
Note
Income from:
Donations and legacies
Charitable activities
Investments
239.616
1.265
85.977
239.616
1.265
85.977
31.577
44,426
Total income
326.858
326.858
76.003
Expgnditure on:
Charitable activities
129.361
129.361
62,960
Total expenditure
129,361
129,361
62,960
Net income before net losses on investments
Nel losses on investments
197.497
197.497
13.043
(19,967)
Net movement in funds
197.497
197.497
2,OT6
Reconciliation of funds..
Total funds brought forward
Nel movement in funds
1,514.782
197.497
1,514.782
197.497
1,512, 706
2,076
Total funds carrigd forward
1,712.279
1,712.279
1, 514. 782
The Ststemenl of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 10 17 form part of these financial slatemenls.
Page 6

KARTIK PRABHU MEMORIAL FOUNDATION
REGISTERED NUMBER:
BALANCE SHEET
AS AT 31 MARCH 2025
2025
2024
Note
Investments
11
181,990
181,990
181,990
181.990
Current assets
Debtors
Investments
Cash al bank and in hand
12
595,590
255, 678
980,000
130,306
984.525
1,580.115
1,365,984
Current liabilities
Creditors.. amounts falling due within one
year
14
149.826)
(33, 192)
Net current assets
1.530,289
1,332, 792
Total assets less current liabilities
1,712,279
1, 514, 782
Total net assets
1,712,279
7, 574. 782
Charlty funds
Unrestricted funds
1,712,279
1, 514, 782
Total funds
1.712,279
1, 514. 782
The Charity was entiued lo exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with
section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect lo
accounting records and preparation of financial statements.
The financial stslemenls have been prepared in accordan￿ with the provisions applicable to entitr'es subject lo
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by..
John Kenneth Fowler
(Trusteel
Dale..
3010112026
Page 7

KARTIK PRABHU MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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.. 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 IFRS 1021 leffective 1 January 20191, the Financial Reporting Standard
applicable In the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
Kartik PrabhLJ Memorial Foundation meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised 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 subsidiary companies since due lo the size of the group the Charities SORP does not
require groLJP accounts to be prepared.
1.2 Income
All income is recognised once the Charity has entillemenl lo the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the lime the investment
income is receivable.
1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation lo transfer economic
benefit lo a third party, it is probable that a transfer of economic benefits will be required in
settlement and the amount of the obligation can be measLJred reliably. ExpenditLJre is classified by
activity. The costs of each acb.vity 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 to a single activity are apportioned between those
activities on a basis consistent with the use of resources. Central staff costs are allocated on the
basis of lime spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on charitable aclivib.es 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 allaching are
fulfilled. Grants offered subject to conditions which have not been met al 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 inclLJded 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 2025
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 at fair value al the Balance Sheet dale, unless the
value cannot be measured reliably in which case il is measured at cost less impairment. Investment
gains and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl
on inveslmenls, in the Slalement of Financial Activities.
Investments in subsidiaries are valued al cost less provision for impairment.
1.6 Debtors
Trade and other debtors are recognised at the selllemenl 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-temi 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 Balance Sheet dale as a result of a past
event, il is probable that a transfer of economic benefit will be required in selllemenl, and the
amount of the settlement can be estimated reliably.
Liabilities are recognised al the amount that the Charity anlicipales il will pay to sellle the debt or the
amount il has re￿iVed as advanced payments for the goods or services it musl provide.
Provisions are measured al the best estimate of the amounts required to 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 al 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 andi Is subisidiaries is 31 March 2025.
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 funds are unrestricted funds which are available for use al 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 2025
Income from donations and legacies
Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
Donations
239,616
239.616
31,577
Total 2024
31,5T7
31,577
Income from charltable actlvltles
Unrestrlcted
funds
2025
Total
funds
2025
Total
funds
2024
Ineome from charitable 8Ctivities
1,265
1,265
Investment income
Unrestricted
funds
2025
Totsl
funds
2025
Total
funds
2024
Bank interest
85,977
85,977
44,426
Total 2024
44, 426
44,426
Page 10

KARTIK PRABHU MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analysis of grants
Grants to
institutions
2025
Total
funds
2025
Total
funds
2024
Supporting good causes
45,640
45,640
7,000
Total 2024
7,000
7, 000
Anatysis of grants leontinuedl
2025
2024
Main recipionts of institutional grants
Nation81 Theatre
Jesus College, Oxford
Variety The Children's Charity
Others
12,500
5,000
27,000
1,140
7,000
45,640
7,000
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted
funds
2025
Total
2025
Total
2024
Supporting good causes
129,361
129,361
62.960
Total 2024
62,960
62, 960
Page11

KARTIK PRABHU MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analysis of expenditure by activities
Activities
undertaken
directly
2025
Grant
funding of
activities
2025
Support
costs
2025
Total
funds
2025
Total
funds
2024
Supporting good causes
1,625
45,640
82,096
129,361
62,960
Total 2024
7,000
55,960
62, 960
Page 12

KARTIK PRABHU MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analysis of expenditure by activities Icontinuedl
Analysis of support costs
Supporting
good
causes
2025
Total
funds
2025
Total
funds
2024
Staff costs
Bank charges
Postage
So￿are
Accounting
Independent Examination
Insurance and training courses
Fees
NCVO contribution
25,280
12901
305
1,820
4,150
5,400
1,298
2,780
88
25.280
12901
305
1.820
4.150
5,400
1.298
2.780
88
22,627
(1, 704)
441
1,247
1,446
3,300
2,033
102
Travel
3.870
3,870
7.588
172
5,840
2,433
Subsistence
Entertainment
7,588
172
Memorial Costs
Telecommunic8tion
53
22,545
2,868
227
131
3,798
53
22,545
2.868
227
131
3,798
13
17,327
328
25
400
iio
Hardware
Social Security
Legal fees
Sundry
Parking
82,096
82.096
55.960
Total 2024
55,960
55,960
Independent examlner's remuneratlon
2025
2024
Fees payable lo the Charity's independent examiner for the independent
examination of the Charity's annual accounts
S,400
3.300
Page 13

KARTIK PRABHU MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
staff costs
2025
2024
Wages and salaries
Social security costs
Contribution lo defined contribution pension schemes
32,564
17,8841
600
22,251
339
37
25,280
22,627
The average number of persons employed by the Charity during the year was as follows..
2025
No.
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
12024 £Nill.
10.
Trustees. remuneratlon and expenses
During the year, no Trustees re￿iVed any remuneration or other benefits {2024- £NIL).
During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NILJ.
11.
Flxed asset Investments
Invgstments
in
subsidiary
Unlisted
companies invgstments
Total
Cost OT valuation
At 1 April 2024
180.002
1.988
181.990
At 31 March 2025
180,002
1.988
181.990
Net l)ook value
At 31 March 2025
180.002
1.988
181.990
At 31 niarch 2024
180,002
1,988
181,990
Page 14

KARTIK PRABHU MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
11. 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
Skills development
through Textile
The financial results of the subsidiaries for the year were..
Names
ProfiUILossl
I Surplusl
{Deficitl for
the year
Net assets
Gradvisor Ltd
ReFab Trading Limited
180,000
157,5061
2.154
12. Debtors
2025
2024
Due within one year
Trade debtors
1,169
333,935
260,486
260
Owed by group companies
Gift aid
64,518
190,900
595,590
255.678
13.
Current asset investments
2025
2024
Term deposit
980.000
Page 15

KARTIK PRABHU MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
14. Creditors: Amounts falling due within one year
2025
2024
Trade creditors
Amounts owed to other participating interests
Other laxalion and social security
Other creditors
Accruals and deferred income
29,286
9. 712
2.924
3,945
1,502
15,709
4,531
16,009
49,826
33.792
15. Statement of funds
Statement of funds - current year
Balance at
31 March
2025
Balance at 1
April 2024
Income Expendlture
Unrgstrictgd funds
Reserves
1,514,782
326,858
1129,3611
1,712,279
statement of funds - prior year
Balance at
31 March
2024
Balance at
l Apnl 2023
Gains/
(Losses)
Income Expenditure
Unrestricted funds
General Funds
1,512,706
76,003
(62,960)
(10,967)
1,514, 782
Page 16

KARTIK PRABHU MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
16.
Analysis of net assets between funds
Analysis of net assets between funds - current year
Unrestricted
funds
2025
Total
funds
2025
Fixed asset investments
181,990
1,580,115
149,8261
181.990
1,580.115
149,8261
Current assets
Creditors due within one year
Total
1,712,279
1.712.279
Anatysls of net assets between funds - prlor year
Unrestricted
funds
2024
Total
funds
2024
Fixed asset investments
Current assets
Creditors due within one year
181, 990
1.365, 984
(33, 192)
181,990
1,365.984
(33, 192)
Total
1,514, 782
1, 514, 782
17.
Related party transactions
During the year, the charity received donations, including Gift Aid & donated shares, totalling £175,000
12024.. £24, 1451 from Trustees.
During the year, grants of £27,00012024.. £7,000) were paid lo Variety The Children's Charity, a charity to
which Tushar Prabhu is also a Trustee.
£59,130 12024.. £64,518) is owed by ReFab Trading Limited and £274,805 12024. £2,924 owed lol is
owed by Gradvisor Ltd. Both are wholly owned subsidiaries.
Furthermore, the interest free loan of £1,500 provided lo the charity by Tushar Prabhu has been repaid in
Page 17