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2024-02-29-accounts

Charity registration number 1191887 Company incorporation number 0941462

VIDYA DHAN

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

VIDYA DHAN

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees & Directors Mr BS Dhot
Mrs DO Giwa
Mrs SK Dhot
Mrs P Cole
Miss M Dhot
Secretary Mrs SK Dhot
Charity Number 1191887
Company Number 09461462
Registered Office 18, Walker Close
Hanwell
London
W7 3NB
Independent Examiner Harinder S Sethi
18 Warren Road
Ashford
Middlesex
TW15 1TT
Bankers HSBC
46 The Broadway
Ealing
London
W5 5JR

Page 2 of 14

VIDYA DHAN

CONTENTS

Page
Trustees’ report 2 - 6
Independent’s examiner’s report 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 - 14

Page 3 of 14

VIDYA DHAN

TRUSTEES’ REPORT (Including Directors’ Report)

The trustees present their report and financial statements for the year ended 29[th] February 2024

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Memorandum and Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

For the public benefit the advancement of education for school pupils in India through the provision of grants in particular, but not exclusively to pay for their school fees and equipment

The focus of our work

All our charitable activities focus on supporting the education and welfare of children, mainly girls, in India

This financial year Vidya Dhan has advanced its objects as follows:-

Ensuring our work delivers our aims

We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. We also assess the success of each key activity and the benefits they have brought to those groups of people we aim to help. The review helps us ensure our aims, objectives and activities remained focused on our stated purposes.

We have referred to the information contained in the Charity Commission’s general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake

Achievements and performance

Vidya Dhan continues to pursue its core aim to support the education of children from economically disadvantaged families. During this financial year, Vidya Dhan supported the education of seventy-seven girls and five boys.

In addition, other notable achievements this financial year include partnership with schools that some Vidya Dhan children attend:-

Don Bosco Mithra School: We funded the purchase of science laboratory equipment and subscription to an online library

Don Bosco Vidya Kshetra School: We donated twenty five desktop computers and provided funding for the physics, chemistry and biology laboratories

Page 4 of 14

VIDYA DHAN

TRUSTEES’ REPORT (Including Directors’ Report)

Sri Dashmesh School: We funded the following essential items

Reserves Policy

The Board of Trustees has examined the charity's requirements for reserves considering the main risks to the organisation. It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to one year’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. At the end of the period the charity reported £27,949 in reserves.

Vidya Dhan has adequate resources to continue its operational existence for the foreseeable future. The Trustees believe that it is appropriate to continue to adopt the going concern basis in preparing the annual trustees report and financial statements.

Investment Policy

The Charity currently has a policy of keeping any surplus liquid funds in cash at banks where immediate access and security of funds are guaranteed.

The trustees have assessed that the charity is not exposed to any major risks.

Future Plans

Vidya Dhan plans to continue the core activities outlined above in the forthcoming year but the trustees expect the charity to reduce its funding for the partnership schools.

Structure, governance and management

The Charity is a company limited by guarantee, incorporated on the 26[th] of February 2015 and registered as a charity on the 19[th] of October 2020.

The company was established under a Memorandum of Association which established the objects and powers of the company and is governed under its Articles of Association.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr B S Dhot

Mrs D O Giwa

Mrs S K Dhot

Mrs P Cole Miss M Dhot

Page 5 of 14

VIDYA DHAN

TRUSTEES’ REPORT (Including Directors’ Report)

Trustee Selection

The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as the Directors.

All Directors give their time voluntarily and receive no benefits from the Charity.

Due to the nature of the Charity’s objectives much of the Charity’s work inevitably focuses upon the disadvantaged children. The Directors seek to ensure that the needs of these children are appropriately reflected through the diversity of the trustee body. Also, the more traditional business skills required to operate a business are well represented on the Board of Directors.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Trustees Induction and Training

In the organisation, both new and old trustees are required and encouraged to attend a series of short training sessions to familiarise themselves with the Charity and the context within which it operates and cover:

The Trustees' Report was approved by the trustees on 2[nd] November 2024.

Mr B S Dhot

Trustee

Page 6 of 14

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF VIDYA DHAN INDEPENDEKf EXAMINER'S IIEPORT TO The TRUSTEES OF VIDYA OHAM (UK CHAArrY NUMBER 119188n pag888 14. The t)han lJiffjteo6 are resp￿th lof th8 praparaiion d th8 Wiunts, aThl othèr m&ttor3 88 (xrt at Pag88 4 to 6. TIK• trLto•s (yxw(Jw thal •n not r•wir9d th . ?Karnrn tt ac￿unty urmlor ••clkn 145 01 th• 2011 Acl: C￿lMiSSi￿ 145(5)(b) ol tr 2011 AGI.. and (kn p￿d& all th8 84rydéncé th&1 YxAd be in an a￿lt aThJ 12) to wt. in my ation￿ bo drawn in ¢xdor h) onabkn a kYop•r Hp41rnkn Sth FCCA Dat: I XoL4 Pa8e 7 of 14

VIDYA DHAN

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 29[th] February 2024

Notes
Income from:
Donations and legacies
3
Investments
4
Other income
Total income
Expenditure on:
Charitable activities
5
Net income for the year
Fund balances at1st March 2023
Fund balances at 29th February 2024		 Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
28,663
-
28,663 24,744
-
24,744
44
-
44 61
-
61
22
-
22 21
-
21
28,729
-
28,729 24,826
24,826
27,923
-
27,923
21305
-
21,305
-
806
-
806 3,521
-
3,521
27,143
-
27,143 23,622
23,622
27,949
-
27,94927,143
-
27,143

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

Page 8 of 14

BALANCE SHEET

AS AT 29[th] February 2024

Fixed Assets
Debtors
Cash & Cash equivalents
Creditors: amounts falling due within one year
Net current assets (liabilities)
Total assets less current liabilities
Creditors: amounts falling due after more than one year
Provisions for liabilities
Accruals and deferred income
Total net assets (liabilities)
Reserves		 Notes 2024
2023
£
£
50
442
1,179
987
27,809
26,803
(1,089)
(1,089)
27,899
26,701
27,949
27,143
0
0
0
0
0
0
27,949
27,143
27,949
27,143

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 29[th] February 2024

The trustees acknowledge their responsibilities for ensuring that the Charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 2[nd] November 2024

Mr B S Dhot

Trustee

Page 9 of 14

NOTES TO THE FINANCIAL STATEMENTS

1 Accounting policies

Charity information

Vidya Dhan is a private company, limited by guarantee, incorporated in England and Wales. The registered office is 2[nd] Floor, 18 Walker Close, London, W7 3NB.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's Memorandum & Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds, if any, are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of recovery of such tax.

Page 10 of 14

VIDYA DHAN

NOTES TO THE FINANCIAL STATEMENTS (continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to 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 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 involved in undertaking each activity. Direct costs attributable to 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 time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Page 11 of 14

VIDYA DHAN

NOTES TO THE FINANCIAL STATEMENTS (continued)

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations received

Unrestricted Restricted Total Total
funds funds
2024 2024 2024 2023
£ £ £ £
Donations 24,566 - 24,566 21,639
Gift Aid 4,097 - 4,097 3,105
28,663 - 28,663 24,744
For the year ended 28th February 2023 24,744 - 24,744

4 Investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 44 61

Page 12 of 14

5 Charitable activities

School fees paid & Donations
Fundraising expenses

Share of support costs (see note 6)

6 Support costs
Administration
Analysed between
Charitable expenses
Fundraising expenses
Charitable activities		 2024
£
24,673
775
25,448
2,475
27,923
2024
£
2,475
2,475
2,475
-
2,475		 2023
£
18,989
447
19,436
1,869
21,305
2023
£
1,869
1,869
1,869
-
1,869

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.

8 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
Total - -

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9. Tangible Fixed Assets

Cost
At 1st March 2023
Additions
At 29th February 2024
Depreciation
At 1st March 2023
Charge for the year
Accumulated Depreciation as at 29th February 2024
Net Book Value as at 29th February 2024
Net Book Value as at 28th February 2023		 IT
Equipment
Total
£
£
2,166
2,166
0
0
2166
2166
1,724
1,724
392
392
2,116
2,116
50
50
442
442

Depreciation is provided on a straight-line basis at rates calculated to write off the cost of each asset over its expected useful life.

10 Debtors

Amount falling due within one year:

2024 2023
Number Number
Other debtors 1,179 987

11 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2024
2024
£
£
Fund balances at
29thFebruary 2024
are represented by:
Total net assets
27,950
-
27,950
-		 Total
Unrestricted
funds
Restricted
funds
2024
2023
2023
£
£
£
27,950
27,144
-
27,950
27,144
-		 Total
2023
£
27,144
27,144

12 Related Party Transactions

The Charity received donations amounting to £2,767 from Trustees this year (2023 - £974).

The Charity received £5,925 this year (2023 – £Nil) from Redeemed Camp. Vidya Dhan and Redeemed has a common Trustee/Director.

Page 14 of 14