Ganatra Charltable Foundatlon Annual Report and Flnanclal Statement For the perlod ended S Aprll 2023 Charlty No: 1189108
Ganatra Charltsble Foundatlon Annual Report and Flnanclal StstÈments For the Perlod ended 5 Aprll 2023 Contents Pa8e Reference and Administrative details Trustees Report Ilncorporating Strategie Report) Independent Accountants Report Statement of Flnancial Activities Balance Sheet Notes to the Flnanclal Statements 9-10 Page 2
Ganatra Charltable Foundation Reference and Admlnlstratlve Details For the Perlod ended S April 2023 Status The organisation is a Charltable Foundation It was re8lStered as a charity on 17 April 2020 Governlng Document The governing document is a Declaration of Trust which established the objects and powers of the trust 17 April 2020 Trustees Amrlsh Ganatra Abhishek Ganatra Hiten Ganatra Operatlng Office 5 Whittle Court Knowlhill Milton Keynes MK5 8FT Charlty Number: 1189108 Bankers., Barclays Bank PIC Independent examlners Naik & Co 2nd Floor Dunwoody House 396 Kenton Road Harrow Middlesex HA3 DH Page 3
Ganatra Charitable Foundation Trustees, Report (Incorporating Strateglc Report) For the Period ended 5 Aprll 2023 The trustees of Ganatra Charitable Foundation present their report and financial statements for the period endd 5 April 2023. Oblectlves and artivities The object of the foundation is to raise and donate funds for any purpose which Is Charitable according to the law of EnBland and Wales, whether for the benefit of any individual or group of people or for the benefit of any or8anisatlon established for charitable purp05e5. Achlevements and perfomiance Durin8 the period the trustee5 have identified and given grants and donations of £317,835 to various religious charltles In Indla who were authorised by the governrnent under the Forel8n Contributlon and Regulation Act 1976. Flnanclal revlew The foundatlon managed to ralse £203,111 and dlstribute £317,835. Reserve Pollcy The trustees try to distribuee as much as posslble of the funds raised. It Is however the intentSon of the trustees to maintain a reserve of around £2,500 for emergency donatlons. Rlsk Management The trustees have assessed the major rlsks to whlch the charity is exposed, In particular those related to operations and flnances of the charlty and are satisfied that systems are in place to mitlgate exposure to the malor risks. Structurei governance and mnagement Ganatra Charltable Foundation is a charity registered in the United Kingdom. The Foundation is registered as a charlty with the Charity Commission and ha been given the reference number 1189108. The Charity ha5 no employees. The trustees carry out the daily mana8ement and administration of the charity. The trustees have complied with the duty contained in section 4 of the Charitles Act 2006 and have given due regard to the guidance publlshed by the Charlty Commlssion. Page 4
Ganatra Charltable Foundation Tru5tees' Report (Incorporating Strategic Report) For the Perlod ended S April 2023 Statement of the Board of Trustees responsibilities for the financial statements The trustees are responslble for prteparing the Trustees, Annual Report and financial statement5 in accordance wlth applicable law and United Kingdom Standards Icharities SORPI In preparin8 these financlal statements which give a true and fair view, the trustees should follow best practice and: 111 select Sultable accountone policies and apply yhem consistentlv lill observe the methors and principles in the Charities SORP liiil make ludgement5 and estimates that are reasonable and prudent (lvl state whether applicable accounting 5tadards and statements of recommended practlce have been followed subject to any material departures disclosed and explained In the financial 5tatement5,' and Iv) prepare the financial statements on a golng concern basls unless it Is inapropriate to presume that the charitable trust wlll continue on that basis. The trustees are responslble for keepln8 adequate accountin8 records that are sufficient to show and explain transactlons and dlsclose with reasonable accuraryat any time the fSnanclal position of the charlty. They are a150 responslble for safeguarding the assets of the charlty and hence takin8 reasonable step5 for the prevention and detection of fraud and other irregularities. For the period ended 5 Aprll 2023 the trust was entitled to exemption from independent examlnation. Approved by the Trustees on 25 March 2024 and slgned on thelr behalf by Hlten Ganatra - Trust¢e Ganatra Charitable Foundation Page 5
Ganatra Charitable Foundation Registered Charlty 1189108 Independent Examlner'5 Report on the Flnancial SLitements to the Trustfjes of Ganatra Charltable Foundation Flnanclal Ststernents for the year ended 5 April 2023 set out on pages 6-9 Respectlve respon55bllltles of Trustees and examlner The charities trustees are re5pon5ible for the preparation of the accounts. The charity's trustees consider that an audit is not required for thi5 year under section 43121 of the Charities Act 1993 Ithe 1993 Act) but an independent examination 15 needed. It 55 my responsibility to.. lal examine the accounts under Section 43 of the 1993 Act, Ibl follow the procedures laid down In the general Dlrection5 8lven by the Charity Commlssion lunder section 4317llbl of the 1993 Act, and Icl state whether partlculr matters have come to my attention. 8asls of Independent examlnatlon My examination was carrled out in accordance wlth general Directlons given by the Charlty Commi$5ion. An examlnation includes a review of the accountin8 records kept by the charity and a comparidon of the account5 presented with tose records. It also includes consideratlon of any unusual items disclosed In the accounts. and seeking explanations from the trustees concernSng any such matlers. The procedures undertaken do not provlde all the evidence that would be required in an audit, consequently no oplnlon 1$ 8iven whether the accounts present a 'tTue and falr, view and the report is limlted to those matters set out in the statement below. Independent Emamlner's Statement In vconnection wlth my examination, no matter has come to my ottention which glve5 me reasonable cause io believe that in any material respect, the requirements lal to keep accounting records in accordance with section 41 of the 1993 Act,. and Ibl to prepare accounts which accord with the accountlng records amd comply with the accounting requirements of the 1993 Act have not been met,. or 2. to which, in my opinion, attentlon should be drawn In order to enable a proper understanding of the accounts to be reached. Hitsndra Naik FCA Naik & Co Chartered Accountants 2nd Floor. Dunwoody House 396 Kenton Road Harrow Middle5ex HA3 9DH Date: 25 March 2024 Page 6
Ganatra Charitable Foundatlon Statement of financial artl¥lty For the Period ended 5 Aprll 2Q23 Restricttd Vnrestrirted fvnds funds 2023 Total 2022 Totsl Income resouyces Donations and other Income 203,111 203,111 128.556 Resources expended Charitable activities Support costs Total resources expended 317,835 317,835 127 127 317,962 317,962 8,000 15 8,015 Net income resources 114,851 114,851 120,541 Total funds at 6 April 2022 123,346 123,346 .495 8,495 2,805 123,346 The statement of flnanclal activltle5 Includes all gains and losses reco8nlsed In the year All Incoming and outgoing resources are from contlnuln8 activities Page 7
Ganatra Charitable Foundation Balance 5he*t at 5 April 2023 2013 2022 Current Asset5 Cash at bank 8,495 123,346 Total assets 8.495 123,346 Represented bv Funds and reseryes 8,495 123,346 The flnanclal statements are approved by the trustees on 25 March 2024 and were slgned by: Iten Ganatra Charlty No. 1189108 Page 8
Ganatra Charit?ble Foundatlon Notes to the financial statements For the Period ended 5 Aprll 2022 l Account5ng poll¢les Basls of Actountlng The financial statements are prepared in accordance with Accounting and Reporting by Charlties.. Statement of Recommended Practice, applicable to charltles preparing their accounts in accordance with Financial Reportln8 Reporting Standard applicable to charities in the UK and Republic of Ireland IFRS1021 b In¢omln8 resources Donatlons and other income are accounted for when received by the trust. c Resources expended Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committin8 the charity to the expenditure. Expendbture Is accounted for on an accruals basis. d Tax status As a registered charlty the trust is exempt from Income Tax and Capital Gains Tax, but not from VAT, Irrecoverable VAT is included in the cost of those Items to whlch It relates. Charltable artlvltle5 Costs of charitable actlvltles include expenditure on charitable projects in relation are shown in note 2. f Governance costs Governance costs represent costs incurred that are altrlbuted to the public accountability of the charity and its compliance with regulation and good practice. These costs Include professional fees and all costs incurred for the management and control of the charlty's activitie5 Fund accountlns Unrestricted funds comprise of general funds created by the accumulated surplus on the Income and expenditure account. They are available for use at the dlscretion of the trustees In furtherance of the general objective5 of the charlty. h Forelgn currencles Transactlons in foreign currencies are translated at average rates prevailing at the date of the transaction. Balance denominated in the foreign currencie5 are translated at the rate of exchange at the year-end date. Exchange difference5 are charges to charitable expendlture. Page 9
Ganatra Charftable Foundation Notes to the Ilnancial statements For the Perlod endd 5 April 2023 2 Charltable activities 2023 Totsl 2022 Total Unrestricted RestrScted Charltable donatlons 203,111 203,111 3 Support Costs 20Z3 2022 Bank charges 127 15 4 Fund$ and Reserves 2023 2022 Balance at 6 April 2022 Incoming resources Outgoing resources Balance at 5 April 2023 123,346 2,805 203,111 128,556 317,962 .015 8,495 123,346 Pa8e 10