Charity number: 1191237 Company number: CE023011 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR KRISHNA CYMRU CIO KRISHNA CYMRU CIO Charity number: 1191237 Company number." CE023011 CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Reference and AdministratNe Details Report of the Trustees Report of the Independent Auditors Statement of Financial Activities 14 Balance Sheet 15 Statèmènt of Cash FIts7W5 16 Notes to the Financial Statements 17 KRISHNA CYMRU CIO Charity number: 1191237 Company number.. CE023011 Reference and Administrative Detai Trustees Terence Anderson Margot Truscott Ross Jones Paul Murphy Martin Fleming Katrien Goemans Sinothando El Tagoury Règistered Office TY KRISHNA CYMRU 4 Dock Chambers Bute Street Cardrff CF10 SAG Company Registration Number CE023011 Charity Registration Number 1191237 Bankers CAF Bank Ltd 25 Kings Hill Avenue West Malling Kent ME19 4JQ Unity Trust Bank plc Nine Brindleyplace Birmingham B12HB Auditor Hodge Bakshi Limited Slalulory Auditors Churchgale House 3 Church Road Cardiff CF14 2DX Page 1 Krishna Cymru CIO Trustees, Report 31 December 2024 The rrustees present the annual report rogerher wich the financial 5t2tem¢nr5 and auditors, report of the charity for the year ended 31 Decemb¢r 2024. The financial starements comply with the Charities Act 2011, the Memorandum Articles of AsSOClation, and the Charities Statement of Recommended Practice {"Chiriries SORP") (applicable to charities preparing th¢ir accounts in accordance with rh¢ Financid Reporting Standard applicable in the UK. FRS 1021. HISTORY Krishni Cymru was established in 2020 ¢0 take over rhe running of the activicie5 ofthe International Society For Ktishna Consciousness (ISKCON- charity number 259649) in Wales and the South Wesr of England. For over 25 years ISKCON had been operating in Wales and the South West 2nd not2ble achieyements had been rhe est2blishmct]r of w¢llness c¢t]tr¢s and cafes in Cardiff and Swansea since 1999, major cultural Fe5tlV215 since 2004, and over 20 years of food relief. During th¢ pandemic our food relief arm, Food For Lif¢ W21¢s, distributed over 150,000 free meals to those in need and received major srant support Erotn rh¢ WCVA as 2 result of irs, fronrlinc works. Krishn2 Cytnru was e5¢ablished so th*r the needs of Wales and the South West would be looked after by a chariry Focused on Wales and the South West. Krishni Cymru officially took over the operations of ISKCON in the area on 1st January 2022. OBJECTIVES AND AcfMTIES Krishna Cymru is a Ch￿1[￿b]e IncoToraied Ors2ni51rion and as such is governed by its Consritution. The chariry's aims and objectives ire to provide ficilities 2tLd services inspired by the ide215, practlCCS 2nd techniques of the tradirionai wisdom ofthe Vedic bhakti tradition 5peciPically a5 taught by A.C. Bhak¢ivedanta Swami Prabhupada; It]d Is r¢veal¢d in the V2ishn2vi t¢xts oFth¢ Bh2g2V2d Gita 2nd Shrim2d Bhasivat2m to educ2tt rhe sener21 public, relieve suffering and poverty) ro manifest and protnote rhat wisdom tradition 2nd advance, transmir, propagate the religion of Krishna Consciousness. Page 2 Krishna Cymru CIO Trustees, Report 31 December 2024 This sol¢ objective of the charity, the promotion of rh¢ wisdom ofthe Vedic Bhakti tradition, is Fulfilled by the activiries of the chariry. These core activiues enable rhe ch2riry to meet lis objecrive through its medium to long term strategy: The key elements of our medium to long ￿rM straEegy are: l. Food distribution 2. Literiture distribution 3. Meditation 4. Workshops 5. Donation5 6. P35toral Care 7. Educ2tion 8. Social media ACHIEVEMENT AND PERFORMANCE l. Food Dlstrlbutlon In 2024, Kri5hn2 Cymru Continued to deliver its Food for Life Wales initiative, providing free, Freshly cooked vegetarian and vegan meals 10 individuals and families in need 2cross C2rdiEF, Swanse2 and the surrounding areas. A total of over 25,000 hot meals were di5tribuced rhroughour rhe year from various w¢ekly pop-up locations. The project has grown through increased partnerships with local organisatlolls including Gathering Place, Butetown Cotnmunity Hub, Gr2t]getown P2vilion, Llanrumney Hall and Cathays Cofflmuniry Centre. This work plays an impoTtanr rol¢ in rcducing food insccuriry, encouraging sustatnable 2nd healthy eiting hibits, offering practic21 support ro those experiencing hardship. l(xl Page 3 Krishna Cymru CIO Trustees, Report 31 December 2024 2. Literature Dlstribution Literature distribution remains a central part of Krishna Cymru's charitable activities, sharing educational resources on wellbein& meditation 2nd spiritualsry b2sed on rhe 2ncient yogi rradirion. In 2024, ov¢r 64,000 books wert distributed across Wales the Sourh West of England through the d¢dic2ted efforts of our volunreers. The or8anisation continues ro r¢c¢iv¢ r¢y12r Feedback from recipients, indicating that these materials provid¢ valu2ble support in managing challenges such as stress, anxiery, low mood, and in ¢ncour2ging personal development. Recipients of the books often find rhemsdv¢s ar one of our wellbeing events also to continue their journ¢y. 3. Mantra Meditation The da51y pr2Ctice and public sharing of mantra meditation is a cor¢ 2criviry of Krishna Cymru. Throughour 2024, regular m2ntra and kirtin events were held ai both oui centres, enabling hundreds of people to exp¢ri¢nce the benefits of thi5 Ptactice. Participants frequently report itnproved wellbeing? increased emoiional resilience, reduced anxicry levels and enhanced connection wirh communiEy ￿ a result ofengaging in th¢s¢ sessions. 4. Workshops and Wellbeing Sessions Krishna Cymru ran a wide range of wellbeing programmes in 2024, including week]y workshops, weekend retreats and structur¢d c12sses. Regular 5£ssion5 such as Living kvisdom, M&ntr& Ntght and Urban med¢t4tto￿ continued ro off£r accessible pathways into meditauon 2nd holisric living. This year also saw rhe introduction of expanded leaming oppominities, enabling participants to eng*ge in vegetarian cooking workshops, tllU5ical instrument trainin& Ayurvedic and holistic health sessions, as well as literaiure-based wellness discussions. These programmes have cr¢at¢d a welcoming environment for individuals to uplor¢ personal gowth, build communiry connections and supporL their ovcrall wellbting. In addition, 2024 marked rhe rhird year of Ihe Aim* Student Sociery ir Cardiff University, which continues to provide students with opportuniu¢s to learn abour meditation and yoga-bas¢d liFesryle practice5. The Page 4 Krishna Cymru CIO Trustees, Report 31 December 2024 society also offers a safe and inclusive space for studenrs ro meeL shar¢ experiences 2nd connect with like- minded peers. 5. Donations Krishna Cymru relies prim2rily on public donations ¢0 support its charitable aims. In 2024, the chariry's Patron and Supporter Programme went From strength to strength, ¢ncouraging regular monthly conrribuTions to provide a stable Foundation For its cottlfflunity projecr5 and outr£ach work. The organisation also Teceived signific2nrly more donarions from rhe g¢ner21 public, recognising th¢ strong impact of engaging directly with members of the public. These efforts not only generated vital financial support but also raised awareness of Krishni Cymru's initiauves ￿la str¢ngth¢n¢d community connections. The majoriry of donations received were unrestricted. Donations specifically for Ihe Ty Krishna Cymru Project restrict£d and are detailed in note 13. 6. Pastoral Care Supporting rhe wellbeing of volunteers and communiry members is a key part of Krishna Cymru's approach. In 2024, pastoral car¢ was provid¢d through i structur¢d mentorship syst¢m. men￿TS m¢et with volunte¢rs OTh a re￿1￿[ basis, offeringyidance, suppon and opponunitses for ￿rSOnal aThd spirirual development. This contributts to a stable, caring and w¢ll-support¢d volunt¢¢r communiry. 7. Education Educarion remains central to Krishn2 Cymru's ch2ritible objectives. Rtylar chsses and courses were delivered throughout the year, introducing P￿tiCIp￿t5 to rhe philosophy and pracrices of bh￿tI-Yoga. Page 5 Krishna Cymru CIO Trustees, Report 31 December 2024 Daily tnorning classes on the Bhagavad.gita and related texts continued to provide structured spiritual educarion, while inrroduciory workshops and modular courses enabltd parricipants at different leve15 to ¢ngage meanin8fLdly with the subject mirrer. These educational acuviries supporr personal growth, critical thinkin& and emotional resilience. 8. Social Media and CommunicatAons Krishn2 Cytnru maint2ins an active communications strategy to increase public engagement and raise aW2reAe5s of its ch2rit2ble ictivities. In 2024, content Was regu12rly produc¢d and shared across platforms including Instagrm and Facebook, alongside the new update ofour website, which now setyes a5 the centr21 hub for upd2tes, im¥ery 2nd event inform2tion. This approach has significantly enhanced the visibiliry of key initiatives such as Food For Life, educarional programm¢s, w¢llb¢ing workshops 2nd volunteer opportunities, while also srrengthening event protnotion and deepening cotE]tnuniry engagement. THE TY KRISHNA PRO?Ecr DeliveTing our flagship wellness centre in Cardiff Bay, Ty Krishna Cymru, will give us a home to be able to offer all our support under on¢ roof. Completion ofthe projecr will enable the chariry to maximise all its activities. We draw from spiricual traditions ro offer proven techniques for genuine happiness. Through mediration> yoga, and thoughtful holistic approaches. w¢ guide you tOW2rd ichieving balance in body and mind. This sense of inner ca]m can opcn the way ro deeptr utLderstanding) inviting you to connect with your truc self-the soul. This developmenr will give us ch¢ opportunity to rcach the maximum iudience. During 2024 construction continued. By the end of 2024 works were ov¢r 90% cotnplete. The proj£cr will be handed over from the contractor ro ourselves in May 2025 and rhen we will add the finishing touches. With a cost oFov¢r£4 million it is only wiih the generous supporr of our donors fundraising specieic211y For this project that we will be able to complete 1¢ and s¢rvic¢ th¢ communiry. Page 6 Krishna Cymru CIO Trustees, Report 31 December 2024 PUBLIC BENEFIT The crust¢¢s of rh¢ chariry have regard for the Ch￿lty Commi55ion'5 public benefit 8uidanc¢. The trustees are happy rhat the chariry's obj£crives and acrivitics fulfil the public benefit aims. FINANCIAL REVIEW The Chariry reported a net incotne oF£824,544 For the yeir ended 31 De<¢mb¢r 2024, compared with £906,390 in 2023. Toial income for the Ye￿ was£2,123,58512023.. £1,822,143), comprising donarions oF£I,637,237) grant income of£355.000, and charitable activity income of£105,753. Tot21 resources ex￿nded were £1,299,04112023.. £915,753). The results reflect continued strot]g fundraising acuviry and restricted capital EL￿ding itk support oFthe Ty Krishna Cytnru development. At 31 December 2024, unrestricted funds toralled £635,858 (2023.. £597,533) and restricted ￿ndS torall£d £1,627,947 (2023.. £841,728). Resrricted income of£948,139 during th£ year related mainly to grants and don2ti0ns for the Ty Krishna Cymru w£llness centre and the Food fot Life Wales Distribution Fund. Ner assets increased from £1,439,261 in 2023 to £2,263,805 in 2024. The Charity does not currently hold free nserves, as 2vailable funds 2r¢ b¢ing iAv¢sted in the cosnpletion of the Ty Krishna Cytnru projeci. Th¢ chariry docs nor hold Fr¢¢ rescrves as of 31 December 2024 due to its commitment to Ihe Ty Krishna Projecr. Page 7 Krishna Cymru CIO Trustees, Report 31 December 2024 RESERVES POLICY The chirity has decided to not yet implement a reserv¢s policy. While the major Ty Krishna Cymru project is being complered it is envisaged that all available exce55 fvnds will be allocated to the works. Once the projecr is complete in 2026 1 suit2ble reserves wlicy will be impl¢tn¢n¢ed. STRvcfuRE, GOVERNANCE AND MANAGEMENT The Chariry is r¢gis¢¢red as a Charitible Incorporired Organisarion with rhe Chariry Commission. Th¢ body r£s￿A51b]e for the management ofthe Chariry is rhe Board of Trustees. OPERATION 'I'he Chariry is organised so thar the trustees m¢et T¢gularly to m2nage its 2ff2irs. There are 2 number of ￿11 time and part time ¢mployees and w£ 2r£ also very grateful for the help provided by the many volunteers all yeir round. In 2024 there were over 80 regular volunteers. RISK ASSESSMENT The trnsiee5 respoThsible foT establishing internal control systems within ¢h¢ ch2riry. The major risks which may impact the activities of the chariry hive been re￿eWed during Ihe year and the trustees are satisfi¢d that the system oFinterAal controls cuirenily in place is adequate, whilst recognising thar they are desisned ro tnanage iaEher than eliminate risk. Inr¢rnal controls are reviewed on an ongoing basis as part of the day-to-day risk management process Within the chariry. BOARD OF TRVSTEES The Board of Twstees who served during the year 2024 are shown below. T￿￿¢¢¢$ 2re ippointed or removed by the Members. Trustees serve for a period of 3 years. The board of Irustees for 2024 were follows.. l. Terence Anderson (Chairl 2. Margot Tru5COtt 3. Ross Jones 4. Paul Murphy 5. Martin Fleming 6. KatrietL Goemans 7. Sinoth2ndo El Tagoury New trustees ar¢ providcd with training on their legal obligations under chariry and company law, Chariry Commission guidance on public benefiL the aims 2nd objectives of the Charity, and the governance 2nd Page 8 Krishna Cymru CIO Trustees, Report 31 December 2024 decision making proc¢ss¢5 of the Charity. Continuing training for trusc¢¢s is undertaken through regu12r meetings, attending relevanr semin2rs, specifjc dÈscussions with individua15 and organis2tions 2nd briefing papers in the 2r¢25 supporttd by the charity. TRUSTEE'S RESPONSIBIUTIES Company Law requir¢s the tTusr¢es to preparc financial statements that give a rrue and fair view of th¢ sratc of affairs of the charity ar the end of rhe eLnanci21 year and of its surplus or dcficit for the financial year. I doing so the trustees are r¢quired to.. selecr suirable accounring policie5 and then apply them consistently,. mak¢ sound judgments and estimates that are reasonable and prudent. and pr¢par¢ rh¢ Pinancial siar¢m¢nrs on a goit]g coiicern basis unl¢ss it is inappropriate to presume That the company will continue in business Observe the methods and principle5 of the SORP The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any tim¢ the Psnanci21 position of the ch2riry and to enable them to ensure th2t the Pjnancial st2temenrs comply with tFLe Charities Act 2011. They are also responsible For safeguarding the assets of Ihe charity and hence for taking reasonable sieps for the prevention and detection of fraud and other irregularities. In accordance with eOEnpany law, as the company's directors. we cerrify that.. so f2r 2$ we are 2ware, there is no relevanr audir infortnation ofwhich the company's auditors are unaware. and as the dir¢crors of che coMp￿Y we have taken all rhe sreps rhat we oughi 10 have taken in order 10 make ourselves aware ofany relevant audit informauon and to establish thai the chariry's auditors are aware of that infomiation. Thi5 report has been prepared in accordance with The S¢at¢m¢n¢ of R¢commended Prictice.. Accounting and Reporting by Charities Ilssucd in January 20191. STATEMENT TO AUDITORS So far as the directors are aware. ther£ is no T¢l¢vanr iudit informarion125 defined by the Charities Act 2011} of which the ch2riry's 2uditors are unaware and each Trustee has taken steps that he ought ro hive taken as a Trustee in order to make himselFawar¢ of any relevant iudit information and to establish that the chariry's auditors ar¢ aw2re of that iThforEnation. Page 9 . Krishna Cymru CIO Trustees, Report 31 December 2024 AVDIYORS Hodge Bakshi have expressed their wil]ingntsg ro continue office ￿ audirors and in accord2nce with Section 144 of the CkntiesAct 2011, Iresolutton proposingtheir re-appointjnentwill bc submitted2t rhe gtneral meeting. Signed f Trus TtrenceADderson Dated 26th October 2025 Page 10 Indèpendent audIt0￿5 report to the trustees of Krishna Cymru CIO Opinion We have audited the finanual statements of Krishna c￿MM lthe'charity") forthe year end&1 31 DecembÈr2024 which comprise Statement of Finanual Activity. balan￿ sheet, cash flows, and Trotes to the finanual statements. induding a sutntnary of signifitant accounb.ng polities. The financial reporting fram&work that h8s been applied in their preparation is appl￿801* law and Unilecl KirKJdotn Accounting Standards, induding Finanual Reporting Stsndard 102." The Financial R&porting Stsnd8rd appI￿a￿e in the UK an(1 Republic of Irelarid (United Kin9dom Generalty Accep￿ Accounting Practi￿1. In our opinion. the financial ststernents.. gwe a true and fairvi8w of the 5tste of the Charity's affairs as at 31 De￿mber 2024 and of its I￿omIng resources and applralitsn of resour￿8 for IhÈ yearthen ended., have been propety p￿pared in accordano with United Kingdom Generalty AttÈpta Accounting Pr8cticÉ', have been prepared in accordan￿With ts requirements of the Charities Act 2011. Basis for opinion We condu¢ted our audit in atrnrdance with International Standards on Audthng IUKI IISAS (UK)) applicable 18w_ Our responsibilities under those stsndards are furthèr d&8¢ribed in the Auditorfs rèsponsibilities for the audit of the financial statements section of our report. We indepèndent of the Charity In accordance wrth the ethi¢al requirements that are relevant lo our audit of the financial slalements in the UK, Including the FRC'8 Ethical Standarrj, 2nd the provisions avai12blÈ for 5rnall entities, ar￿ we have fuffilled our other ￿th￿al responsibilitiès in atcordano with these requirÈments. We believe that thè audit evidence we have obtsined is SUffic￿nt and approprrate to provide a basi5 for our opinion. Cor￿lUSIOnS ￿lating to going con¢em We have nothing to report In restEct of thè following mattek4 in rdation lo wh¢h th& ISAS (UK) requi￿ us to report to you Whe￿.. the trustees, use of the going concèm basis Df accounting In the p￿P￿tatiOn of the financial Statements is not appropriate", or the trustees have notdi5closed in the financial statements any ￿entified tnaterial untertainlie5 that may ¢ast51gnificant doubt aboutthe Charity's ability lo tontinue to adopt the going concern basis of accounting fDr a pèriod of at least months frorn the date when Ihe financK81 st8tements are atsthorised for issue. Other Fnformation The bijstèes are ￿ponsIble for the other infoTrnation. Thèother information comprises the infomation induded in the annual report other than the ffnancial statements and our auditorfs report IhÈreon. Our opinion on the financial statements doès not coverthe othèr infomiation and. except to the extènt otherwise expliotty stated in our report, we do not express any fonn of assurJnce conclLL8ion thereon. In connection with our audit Df the financial ststements, our responsibilty is lo read the other information and. in doing $0. considerwhether the other infomation is rnaterialw Inconsistent wifh the financial statements orour knowle*e obtained in the audil Drothe￿I3￿ appears to be malenalty misstated. If we identify such m3terial inconsistencies or appaEnt materi81 mi88tatements. we are required tr) tletermine whethÈr there E a material misstatement in the financi81 staternents or a material misgtaternent of the other infotrnabon. If, based on the work we have performed, we CDnclude thatthere 18 a material misstatement of this other inforniation, we a required to report that fact. I￿￿ have nothing to feport in this regarcl. Page 11 Independent auditovs report to the trustees of Krishna Cymru CIO klatters on whlch wè are required to report by exceptson In the light of the knowledp and understsnding of thè Charity and its environment obtsined in the ¢ourse of the audit, we have not identified material miss13tement5 in the Truslees'Annual Report. We have nothing to report in respect of the following mattÈrs in ￿lation to which the Charibes (Accounts a￿1 Reports) Regulations 2008 requi￿ us to Eport to you if, in our opinion." the infornTrat￿n given in th& truste&s' report is inconsistent in any material respect with the finanual 5tstements', or sufficient accounting records h2ve not been kept,. or the financial statements ate not in agreementwth thè accounting records", or we have not re¢eDied all the informaton and explanations we require fDr our audit Respon$ibilities of the trusteÈ$ A8 explained rnore fulty in thè trustees, responsibilitie8 StatettEnt set out on p8ge 9, thè twstees are re5PDnsib forthe preparation of the financial stslemenls and forbeing satisfied thatthey give a true and fair view, and for such intemal Contr￿ as they determine is r*cessary to enable the prepar8tion of financial ststements that a free trom material misst8temenl. whether due to fraud or error. lft preparing the financial statements. the trustees are responsible ft>r a55e55ing the Charity's 8bility to continue as a going concern, d￿cloS1r￿. as applicable, matters relatÉd to going concern and using the going concem b8SIS of accounting unless th& ttustees either intend to IiquK18tè th& Charity or to cease operations, or h¥ve no realistic altèmative but to do so. Auditors resptsnsibilitie5 forthe audit of the finan¢ial $tatements Our objectNes are to obtain reasonab￿ 8ssurance about whetherthe financigl ststements as a whoje are free from matenal rnisslaternent, whether due to traud orerror, and to issue an auditors report that indudes our opinion. Reasonable assurÈnts is a high level of assuran￿, bul i8 not a guarantee that an audit conductèd in acCOrd8n￿ with ISA8 IUKI will always detect a material misstatement whÈn itexists. Misstatements can arise from fraud or error and are considered materi81 rf. Individually or in the aggregate, thèy could rea50nab¢y Le expected to influence the economic decisions of user5 taken on the basis of these financial statLYnents. The audit engageffÉnt P8ttrEr has assessed that the engagernent audit team collectivety has th& appropriate competence and tapabilibes to identfy and reeognise non-complian￿ with Lgws and r￿u￿tiOnS. det3ils of those mattets about Tron-compliance with laws and regvlalions and fraud were communicated to the auditengagement team. Extent to whlch the audit is capable of detsrmlnlng Irregulartty iFKluding fraud ITregularities, including fraud, ar& inslan¢es of ntsn-comp1ian￿ with laws and regulations. We have designed procedu￿$ in line with our responsibilities oudined 8bove. lo detect material M￿StateM&nI in ￿SpÈCt of irregularits"Ès. including fraud. The extent lo wh￿h our pro¢edure5 are capaL4e of delechng irreguJarits"es, induding fraud is detsiled below.. Wè obtsin an underst8nclirG of the entty. its 3¢bvrt&n to the legal and regulatory framework applicabPÈ, which in¢lude5 the Charity Act, and how the entity is cornplying with those frameworks. Bssed on this understanding, we identrfy and assess the risks ¢1 materia5 misstatemènt of Ihe financi￿ statements, whetherdue to fraud or error, ¢lesign ar￿ perfom audit procedures responsive to Ihose risks, and obtain audit ÈvidÈnce Ihat is suffioenl and appropriate to provide a basis for ouropinion. This includes consideration of the risk of ads by the entity that were coTrtrary to applicab￿ ￿w5 regulations, induding f•ud_ Page 12 Independent auditor's reportto the trustees of Krishna Cymru CIO In response to rtsk of irregu12ritiÈs and n)n-com ￿lance with laws 2nd regul8tions, induding fraLKI, we deS￿ned procedures wh￿h include". Assessing the extent of compliance with rules regulations specifically in relation to Charitie5 Act 2011 and employment laws which are considered tr> have a direct material effect on the finan¢i81 statements or the operations of the Chartty through Ènquiry of the trustees and senior m8na9emenl team and inspection of records including revièw of board minutes during and subsequent lo the year ended 31 De￿mber2o24. Reviewng financial slatèrnentdisclosure and verifying to supporting documentation, which induded Trustee board rninutes, lo assess tompliance with appli0￿e laws and regulations. Perftstrning audit work to mitigate risk of management bia5 and override of controls. induding testing of joumal e[It￿eS and other adjustments forapproprialeness, evaluating the business rationsle of significant trans8dions outside the normal course of business and reviewng 3ccounting estitnates for indtators of potent121 bias. Because of the inherent limitations of an audit, thète is a risk that wè will not (letect all irregularitses, including those lèading tD a material misstatement in the financial statements or nonrt. or for the opinion5 we have formed. James BumetlACA ACCA (Senior St&tutoryAuthtor) Forand on behaifofHodge Bakshi knmited(StatutoryAuditor) Churchg8te House 3 Church Rood Whit¢hu￿￿ Cardiff CF14 2DX 7 October2025 Page 13 KRISHNA CYMRU CIO Charity number: 1191237 Company numbèr: CE023011 STATEMENT OF FINANCIAL ACTIVITIES Includin income and ex enditure account FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted Funds Funds Note 2024 2023 INCOME Donations and grants 1.044,098 948,139 1.992,237 1,682,655 Charitable activities 105.753 105,753 136,106 other income 3.519 3.519 802 Investment income Tolal Income 22,076 1,175,446 22,076 2,580 948,139 2,123,585 1,822,143 EXPENDITURE Raising fund5 2,920 2.920 13,676 Charitable aclimties 1.134,200 161.920 1,296.120 902,077 Total expenditure 1.137.121 161.920 1,299,041 915,753 Net income and net movement in funds 38.325 786,219 824,S44 9tkS,390 Reconciliation of funds Total fund5 brought fr>rw8td 1 January 2024 597.533 841.728 1,439,261 532.871 Total funds ¢arried forward 31 December 2024 635,858 1,627.947 2,263,805 1,439,261 An income and expenditure account has not been produced as the Statement of Financial Actwities represènts all the income & expenditure of the Charity. All income and expenditure derive from continuing actmties. The notes form part of these financial statements. Page 14 KRISHNA CY ucio Charity number.. 1191237 Company ntsmber. CE023011 BALANICE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes FIXED ASSETS.. Tangible assets 4,001,651 1,744,319 CURRENT ASSETS: Stock Debtors Cash at bank 10 11 48,381 155,381 43,296 247,058 61,121 1,346,369 101.934 1,509.424 CREDITORS: Amounts falling due within one year 437,424 374,631 NET CURRENT ILIABILITIESI IASSETS.. 190,366 3,811,285 1,134,793 2,879,112 cRED￿ORS. Amounts falling due after one year 12 11,547.4801 11,439,8S11 TOTAL ASSETS LESS CURRENT UABiumES'. 2,263,805 1.439.261 FUNDS.. Unrestrietèd funds.. Unrestricted funds- 63S,858 597.533 Restricted funds NET ASSETS 14 1.627,947 2,263,805 841,728 1.439.261 The financial ststements were approved by the Board of Trustees and atrth0r￿ed for issue on 26th October 2025 and signed on its behaff by.. Trustee Teren￿ Anderson The note$ forrn part of these financial ststements. Page 15 KRI HNA CYMRU C Charity number.. 1191237 Company number: CE023011 STATEMENT OF CASH FL WS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Net cash provided byllusedl in Operating activities Net cash provlded byllusedl in investing activities Net cash provided byllusedl in financing actiV4ties 2,047.540 115,5641 12,263.7081 11,322.4111 157,530 1.199,851 Increase in cash and cash equivalents in the year 158,6381 1138,1241 Cash and tAsh equivalents at the beginning of the year 101,934 240,058 Totsl cash and cash equivalents at the end of the year 43.296 101,934 Cash genèrated from opèrating actlvities 2024 2023 Surplus for the year 824,S44 906.3 Adjustments for. Depreciation of fixed assets Loss on sale frxed assets Decrease I Ilnixease l in inventories Decie85e I IlncEasel in debtor5 {De￿eaSe) I Increase in creclitors 4,686 1,690 11740 156.8111 1.190,988 I1,1￿.959) 12,892 322,240 3,575 Net cash provide(I byllu5edl in operatiny aetovitiès 2,047.540 15,565 Cashfiows from Investing activities 2024 2023 Purchase of Propety, plant and equipment {2,263,706I 11,322,411) Net cash provided byllusedl in investing activities 12,263,708 1.322.411) Cashfiows from Financing activrties 2024 2023 Cash in inflow5 from new borrowng Cash OLrfows trorn repayment of borrowryng 218.285 160.7551 1.199.851 Net cash provided byl{usedl In financing activities 157,630 1,199,851 Pagè 16 KRISHNA CYMRU CIO Charity number= 1191237 Company numbÈr- CE023011 NOTES TO THE FINANCiAL STATEMENTS OR THE YEAR ENDED 31 DECEMBER 2024 I A¢COUNTING POUCIES Charity information Krishna Cymru is a publi¢ benefit entity and a registered charity in England 8nd Wales. The istered office is Ty Krishna Cyrnru, 4 Dock Chambers, Bute Street, Cardiff, CF10 SAG. 1.1 Accounting convention These finanoal st8tem&nts have been p￿pared in ¢ompliance FRS 102, 'The Financial Reporting Stsndard applicable in the UK 8nd the Republic of Ireland,, the Ststetnent of Recommended Practice applicable to charitles preparing their accounts in 8ccordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 ICh8rities SORP IFRS 10211 and the Charities Act 2011. The finanu81 statements hsve been prepared under the historical cost ¢onvention. The principal accounting policEs adopted are set out below. The acwunb'ng policies have been applie(I consistently throughout the year and in the preceding year. The presentation eurrency of the financisl statements is the Pound Sterling (£1 1.2 Golny Concern These financial ststements have been prepared on a going-concern basis, which assumes that the Charity will conts.nue its activ￿e$ for the foresee3ble future. At 31 De￿mber 2024 the Charty had net current liabilities of £190,366 12023.. net curient assets £1,134.7931- The trustees have rewewed detsiled cash_flow forecasts and funding plans for the period of at least ￿e1ve months from the d8te of approval of these finanrial statements. The forecasts demonstrate that ongoing activities will conb'nue to be supported by.. . Cotnmitted donations and grant funding for the Ty Krishn8 Cymru project", . Agreed financial support from affiliated Charities within the ISKCON group for at least iwelve months after approval of these accounts", and . Expected continued growth of the Charity's trading and Dutreach incomè the Tg Krishna centre opens. After taking these factors into account. together wth the Charity's attess to group funding faulities, the trustees have a reasonable expectation that the Charty will have adeouate resourw to meet its obligations as they fall due_ Accordingly, the fin8naal statements Continue to be prepa￿￿ on a going- ¢onc&in basis. 1.3 Significant Judgements and Estimatss In the application of the Charitys accounting poliaes, whi¢h are described in note 1, management is required to make judgements. estitnates and 8ssumptions about the carying values of assets and liabilities that are not readily app8￿rnt from other Sour￿$. The estirnates and undedying assumptions are based on historical eXper￿nCE and other factors that are considered to be rèlevant. Actual results may differ from these estsm3tes. The estirn8tes and underfying assumptions are ￿￿tsWed on an ongoing basis. Revisions to accounting estimates a￿ recognised in the period in which the estimate If rewsed if the ￿m$10n affects only that period, or In the peiiod of the rewsion and future periods if the revision affects both current and future periods. Page 17 KRISHNA CYhTRU CIO Charity number.. 1191237 Cornpany number= CE023011 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1.4 Fund Atcounting General fun(Is are unrestricted fvnds whid) rep￿Sent the accumulated surplus of income over expendituE and are available for use al thè discretion of the Trustee5 in furthÈr8ncè of the genèral objectbves of the Charity and which have not been designated for other purpose. Designated funds are unEstrictsd funds of the Charity which the trustees have dec￿ed at their discretion lo set 35id8 to use for a specific purpose. The aim and purpose of each deS￿na￿ fund is Set out in the notes to the financial statements. Restricted funds a￿ funds of the Charity restricted for speolic purposes being undertaken by the Charty. The cost of raising and administering su¢h fund5 are charged against the specificfund. 1.5 Incoming resources IncornÈ is recognised when the Charity has ￿ntit￿Ment to the funds, any performance conditions attached to the iternlsl of income have been met, it is probable that the income will be re¢ewed and the amount can k measurod reliably. InrA)me from government and other gonts, whether'capitsy grants or'revenue, gr8nt8. is re¢ognised when the Charity has entitlement lo the funds. any perfom8nce conditlOnS attached to the grants have been met, it is prtsbable that the income will be re¢eived and the 8mount tan be m88sured reliat>ty and is not deferred. GrftAid receivable is incfuded in income when there is a valid dedaration from the donor. Any Grft amount recovèred on a donation is considered to be part of that gift and is treated as an addition to the same funLI as the initial donation unless the donor or the terms of the appeal have specified otherwise. Donatitsns are recognised whére there 15 entidemen¢ tsrtainty tsf re￿ipt and the amount (an be measured with sufficient reliability. 1.6 Donated servlce$ and facilities Donated professional services and donated facilities are recogni%èd as intotne when the Charty has control over the item. any conditions associated with thÈ donated item have bèen met. the re￿Ipt of e¢ontrmic bpnefit from the use by the Charity of the item is probable and that economic benefit can be measured reliab￿. In a¢cordanTr with the Ch2rilies SORP IFRS 1021, the general volunteer tirne of the Friends is not recognised and refer to the trustees, annual report for more infomalion about their contribution. On re￿Ip( donated professional services and donated tatilitiÈs are ￿cogniSed on the basis ot the value of the grft to the Charity which is the Hmount the Charty WOU￿ have been wlling to pay to obtsin services or facilities of 4uwalent economic benefrt on the open rnarket a ujrresponding amount is then recognised in expenditure in the period of receipt. Page18 KRISHNA CYMRU CIO Charity number: 1191237 Company number= CE023011 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Resourcès expended 1.7 Expenditure and irrecovèrable VAT Expenditure and irrecoverable VAT is iecognised once there is a legal or construclwe obligation to make a payment to a third party, it IS Probable that settlement will be required and the amount of the obligation can be measured reliabty. Expendrture is Classified under the following activity headings." Costs of raising funds comprise the fundraising and their associated support costs. Expenditure on charrtable actiwties includes thè costs of safety primarity for the general benefit of the people of Wales undertaken to further the purposes of the Chartty and their associated support costs. Other expenditure represents thosè items not falling into any other heading. Irrecovèrable VAT is charged as a cost against the activty for which the expenditure was incurred. Governan¢e costs are those Costs incurred in connection wlh the compliance wth conslttulional and ststutory requirements of the Charty. 1.8 Allocation of support costs Support costs are those functions that assist the work of the Charrty bul do not directfy undertake charitable activities. Support wsls include back offic& costs, finaneè, personnel, payroll and goveman¢e costs which support the charity's progi8rrimes and actmb'es. These costs have been allocated against the primary purpose of the charty and included within ¢harilable aclimb'es. 1.9 Taxation The Charity is considered lo pass the tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore rt meets the dèfinition of a charitable company for UK corporation lax putposes. Accordingty, the Charity is potential￿ exempl from taxation in respect of income or caprtal gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargèable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Page 19 KRISHNA CYMRU 10 Charity number. 1191237 Company number.. CE023011 NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2024 1.10 Tangible fixed assets Tangible f￿ed assets held for the Charity's own use are stated at ￿$t less acc*Jmulated depreaation and accumulated impairment losses. Oepreciation is provided al the following annual Tales calculated to write off the cost of fixed assets. less their estimated residual value, over their expected useful lives.. Leasehold Improvements Motor Vehides Fixiures & Fittings - 5% Straigl7t ￿ne- Onee brought into Use 250A Straight Line - 25% Reducing Balance At eath balan￿ sheet date, the Charity reviews the carrying amount of ts tangible fixed assets to determine whether there is any indication that any itèms have suffered an impairment loss. If any such indication exists, the rectsverable amount of an asset is egtim2ted in order to detemine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Charsty estimates the recoverable amount of the ￿sh-generatin9 unit ID which the asset belongs. 1.11 Impainnent Assets not measured at fair value are revièwed for any inditstion that the asset may be impairèd at each balance sheet date. If such indication exists, the recoverable amount of the asset. or the assets cash generating unit. is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amtsunt, an impaiment loss is recognised in profit or loss unless the asset is carried * a revalued amount where the impaimient loss is a revaluation decrèase. 1.12 Stock stod(s held for sale as part of nontal Gr8nl- Welsh Government Capital Grant- Nation81 Lottery Fundraising for Ty Krishna building improvement revenue and associated costs Moondance Foundatitsn- food for life grant National Lottery Heritage Fund grant Cardiff Council direct food support grant 250,000 40L),000 50.0 40,0 300,0 440,000 181,593 10,135 593,139 136,785 10,135 637,947 250,000 25Q,OCKJ 10,000 5.000 948,139 10,0(L) 5.(100 161,920 1,627.947 Cardtff 1910 Trust grant 841,728 The National Lottery and Wel$h Govemment restricted fund grants have been eamarked for the development of a cultural heritage site and wellbeing community ￿ntre for Butetown, Cardrff, protnoting physical and ment81 wellbeing through accessible training in yoga. medrtation, lifestyle arKI wellness through the ample distribution of affordable, nutritious, plant-based meals. The Charity is taising funds to be spent on the improvèment and associated costs of Tg Krishn8 at 4 Dock Chambers Cardrff. Once open. hopefully in the middle part of 2025, Ty Krishna will be where wellness, community, and spirrtu81ty converge. Moondance Foundation food for life grant supports salary and food costs. Page 26 KRISHNA CYMRU CI Charity numbÈr-. 1191237 eomparry number CE023011 NOTES TO THE FINAN IAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2024 14 ANALYSIS OF NET ASSETS BET%YEEN FUNDS Unrestricted Restricted Funds Funds Total Funds Tangible fixed assets Nel curyenl assets Lon9 term liabililEs Totri net assets 2,373,704 1190,3661 1,547.480 635,858 1.627,947 4,001,651 1190,3661 1,547.480 2,263.805 1.627.94T 15 OPERAMNG LEASE COMMITMENTS The folloving operating lease payments are committed lo be paid.. 2024 2023 Payable Under one year 26.250 26.250 26,250 28,250 16 RELATED PARTY TrANSACTIONS During the year the Charity eny8gèd in a number of Iransadions with tsty2nisations that form part of the Intemational Society for KTrshn8 Consoousness IISKCONI group. Al such Iransaditsns wrre carried out on normal Commercial terms and in furtherance of the ChariW5 Qbjedives. The Charity rent$ ￿rtain properties from ISKCON for use in its activities. and during tre year total rental payments amounted to £80,050 12023". £79,098). In addition. the Charty purchased books, insurance, Iicence fees and Other supplies from ISKCOM-relaled entytyes lotslling £217.818 12023". £181,573). No donatlDns vRre recewed from ISKCON during the year12023.. £99,3991. The Charity also both lends to and borrows from ISKCON as p8rt of its project fvnding arrangements_ Interest of £20,913 was re*ived duriny the year on monits owed to the Charity. vthile £108.253 of inter&st was paid on the108n oTrhed by the Charity. The loan payable to ISKCON bears interest at rale of 2.29 per *nl above ltre 8ank of England base rate and is repayablÈ by 2038. At 31 December 2024, Charty was owed £26,853 12023.. £1.247,6161 by ISKCON under an intÈresl-free arrangernÈni that is repayable on dernand. Conversety, the Charity owed £1.434.593 12023.. £1.495.3481 to ISKCON in respect of the abDve loan. together yrith £48.604 12023.. £63.6921 for trade purchasÈs and rent outstanding at the year Ènd. Overall, the net position at 31 D￿rnber 2024 was that Ihe Charity owed ISKCON £1.456.34412023.. nel receivable of £311.4241. I relaled-party balances are unsecured. Interest income and expense have b*n appropriatety recognised in the Statetnent of Finanual ActivitEs. Thè trustèes consider that these transactions were undertaken on an am's-length basi$ In the nom)al course of the Charity's operations. 17 PENSIOtrI Defined ￿￿tribut￿n pension scheme thè Charity operates 8 defined wnlribution pension scheme. The pension Cost c*arge for the year represents conlributpons payable by the Charity lo the scheme and arnounted 10 £1.33912023- £1.2101. 18 CAPtTAL COMMITMENTS As at 31 D￿rnber 2024 the Charity had contracted to complete a further£282,245 12023.. £2,140,002) w)rth of ￿aSehOld improvernents. P8gÈ 27