## **Charity number: 1193175**
## **SUBODH FOUNDATION UK**
## **TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**For the year ended 31 March 2023**
## **SUBODH FOUNDATION UK**
## **Index to company reports and financial statements.**
||**Page**|
|---|---|
|Legal and administrative information|1|
|Trustees' report|2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the accounts|6|
|Notes forming Part of financial Statements|6-11|
|_The following pages do not form part of the statutory accounts:_||
|Detailed income and expenditure accounts|12-14|
**Page 1**
## **SUBODH FOUNDATION UK**
**LEGAL AND ADMINISTRATIVE INFORMATION For the year ended 31 March 2023**
## **Trustees**
**Mr Subodh Timilsina Mrs Babita Timilsina Miss Ajeena Timilsina**
**Charity Registered Number 1193175**
**Registered Office Devonshire Business Centre Boundary House Cricket Field Road Uxbridge UB8 1QG**
**Independent examiner GNS Associates Limited Boundary House Cricket Field Road Uxbridge UB8 1QG**
**Bankers Metro Bank One Southhampton Row London WC1B 5HA**
**Page 2**
## **SUBODH FOUNDATION UK**
## **TRUSTEES REPORT For the year ended 31 March 2023**
The Trustees, who are directors of the charity for the purpose of the Companies Act, submit their annual report and the financial statements of The Young Musicians Symphony Orchestra (the Charitable company) for the year ended 31st August 2023. The Trustees confirm that the annual report and financial statement of the charitable company comply with current statutory requirements, the requirements of the charitable company's governing document and the provisions of the statement of Recommended Practice (SORP).
## **Method of Appointment or Election of Trustees**
The management of the charitable company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
## **Charitable Objectives**
The principal objective of the charitable company is the provision of a national orchestra giving coaching and performing opportunities to music students and particularly those that have graduated and need to maintain their skills until they acquire a position in one of the country's professional orchestras.
## **Review of Activities and Future Developments**
The results of the year's operation are set out in the financial statements. The net movement in funds for the year amounted to (£700) . The retained surplus on 31 March 2023 amounted to £700. The Trustees do not expect the surplus to decrease over the next financial year, due to their successful fundraising.
The policy regarding reserves is to make a modest surplus or to break even.
## **Risk Management**
The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company and are satisfied that systems are in place to mitigate the company's exposure to major risks.
## **Trustees' Responsibilities**
Company and charity law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the surplus or deficit of the charitable company of that period. In preparing those financial statements the Trustees have:
i. Selected suitable accounting policies and applied them consistently.
ii. Made judgments and estimates that are reasonable and prudent
iii. Stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
iv. Prepared the financial statements on a going concern basis.
The Trustees have overall responsibility for ensuring that the charitable company has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities. This report was approved by the trustees and signed on its behalf, by:
## Subodh Timilsina
## ~~……...............….................Subodh Timilsina, D~~ irector
Dated: Subodh Timilsina (Sep 5, 2024 15:04 GMT+1)
**Page 3**
**SUBODH FOUNDATION UK**
## **INDEPENDENT EXAMINER'S REPORT TO SUBODH FOUNDATION UK**
## **For the year ended 31 March 2023**
I report on the accounts for the year ended 31 March 2023 set out on pages 4 to 11.
## **Respective responsibilities of trustees and examiner.**
As described on page 2 the Trustees, who are also directors of the company for the purposes of the Companies Act, are responsible for the preparation of the accounts. The charity's trustees consider that an audit Is not required for this year under section 144 of the Charities Act 2011 and an independent examination is needed .The charity is required by company law to prepare accrued accounts and I am qualifled to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England
## It is my responsibility to:
- examine the accounts under section 145 of the Charities Act 2011.
- to follow the procedures laid down In the general directions given by the Charity Commission under section 145(5)(b) of the 2011 Act: and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination Includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention to Indicate:
- the accounting records have not been kept in accordance with section 386 of the Companies Act 2006;
- the accounts do not accord with such records:
- where accounts are prepared on an accrual basis, whether they fail to comply with relevant accounting requirements under section 396 of the Companies Act 2006, or are not consistant with the Charities SORP:
- any matter which the examiner believes should be drawn to the attention of the reader to gain a proper understanding of the accounts.
## GNS Associates
GNS Associates (Sep 5, 2024 15:02 GMT+1)
## **L N Ghimire**
## **GNS Associates Limited**
## **Chartered Accountants**
GNS Associates Limited Boundary House Uxbridge UB8 1AG
**Page 4**
## **SUBODH FOUNDATION UK**
## **STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 March 2023**
|**Unrestricted Funds**
**12 months ended**
**31 March 2023**
**Notes**
**£**
**INCOMING RESOURCES**
Donations, legacies and similar incoming resources
2
700
**Activities for generating funds:**
Trading activities
3
-
**TOTAL INCOMING RESOURCES**
**700**
**RESOURCES EXPENDED**
Costs of generating funds:
Charity trading expenses
4
-
Charitable expenditure:
360
Costs of activities in furtherance of the charity's objects
**TOTAL RESOURCES EXPENDED**
**360**
MOVEMENT IN TOTAL FUNDS THE YEAR
**INCOME/ (EXPENDITURE) FOR THE VEAR**
**8**
**340**
**TOTAL FUNDS AT 01 APRIL 2022**
**-**
**TOTAL FUNDS AT 31 MARCH 2023**
**340**
All activities relate to continuing operations.
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on page 6 to 11 form part of these financial statements.|**Total Funds**
**12 months ended**
**31 March 2022**
**£**
-
-|
|---|---|
||**-**|
||-
-|
||**-**|
||**-**
**-**|
||**-**|
|||
4
**Page 5**
## **SUBODH FOUNDATION UK**
## **Balance Sheet For the year ended 31 March 2023**
|**Notes**
**Fixed Assets**
**Tangible fixed Assets**
**5**
**Fixed assets**
**Current assets**
Debtors
**6**
Cash in hand and at bank
**Creditors amounts falling due within one year**
**7**
**Net Assets**
**9**
**CHARITY FUNDS**
Unrestricted-General Funds|**2023**
**£**
**-**
-
700
**700**
(360)
**340**
**340**
340
**340**|**2022**
**£**
**-**
-
-|
|---|---|---|
|||**-**
-|
|||**-**|
|||**-**
-|
|||**-**|
The directors consider that the company is entitled to exemption from the requirement to have an audit under the provision of section 477 of the Companies Act 2006 relating to small companies, and members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts, which give a true and fair view of the state of affairs of the company as at 31st August 2023 and of its profit for the year then ended In accordance with the provisions of the Act applicable to companies subject to the small companies regime.
The financial statements have been prepared in accordance with the special provision relating to small companies and in accordance with the Financial Reporting Standard for Small Entities (FRS 102).
The financial statements were approved by the Trustees and signed on their behalf, by:
## Subodh Timilsina
Subodh Timilsina (Sep 5, 2024 15:04 GMT+1) ……...............…...........................................Subodh Timilsina, Director
Dated:
The notes on pages 6 to 10 form part of these financial statements.
5
**Page 6**
## **SUBODH FOUNDATION UK**
## **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023**
## **1. ACCOUNTING POLICIES**
## **1.1 Basis of preparation of financial statements**
The Financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the statement of Recommended Practice (SORP), "Accounting and Reporting by charities" published in October 2000, applicable accounting standards and the Companies Act 2006.
## **1.2 Company status**
The Charitable Company is a company limited by guarantee. The members of the company are the governors named on page 1. In the event of the charitable Company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charitable Company.
## **1.3 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charitable Company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Investments income, gains and losses are allocated to the appropriate fund.
## **1.4 Incoming resources**
All incoming resources are included in the Statement of financial Activities when the charitable company is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **1.5 Resources expended**
All expenditure is accounted for on an accrual basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources. Overheads have been allocated on the basis of charity expenditure.
## **1.6 Cash flow**
The Company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cash flow statement on the grounds that it is a small charitable company.
## **1.7 Turnover**
Turnover comprises the invoiced value of the goods and services supplied by the company, exclusive of Value Added Tax and trade discounts.
6
**Page 7**
## **SUBODH FOUNDATION UK**
## **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023**
## **1 ACCOUNTING POLICIES**
## **1.8 Tangible fixed assets and depreciation**
Expenditure on assets are capitalised if they are capable of use exceeding the current year, are identifiable and the costs exceed £250.
Tangible fixed assets are stated at costs less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Office Equipment- 30% Reducing balance
Other Fixed Assets -20% Reducing balance
## **2. DONATIONS LEGACIES AND SIMILAR INCOME RESOURCES**
|**As set out on page 13**
**CHARITY INCOME**
Donations,Glfts & Grants-General funds
HMRC Charities
**TOTAL CHARITY INCOME**|**12 months ended**
**31 March 2023**
**£**
700
-
**700**|**12 months ended**
**31 March 2022**
**£**
-
-|
|---|---|---|
|||**-**|
7
**Page 8**
## **SUBODH FOUNDATION UK**
**NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023**
## **3. TRADING ACTIVITIES**
**----- Start of picture text -----**
Unrestricted Total Funds
12 months ended 12 months ended
31 March 2023 31 March 2022
£ £
CHARITY TRADING INCOME
- -
- -
Total Charity trading income
CHARITY TRADING EXPENSES
- -
- -
Net expenditure from trading activities
**----- End of picture text -----**
**Page 9**
## **SUBODH FOUNDATION UK**
## **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023**
## **4. ANALYSIS OF RESOURCES EXPENDED BY EXPENDITURE TYPE**
|**Costs of generating funds:**
Charity trading expenses
**Subtotal costs of generating funds**
Charitable expenditure:
Charity expenditure
Subtotal charitable expenditure
**Total resources expended**
Depreciation of tangible fixed assets:
**Owned by charity**
**Related Parties**|**Total**
**Total**
**12 months ended**
**12 months ended**
**31 March 2023**
**31 March 2022**
**£**
**£**
-
-|
|---|---|
||**-**
**-**|
||360
-
360
-|
||**360**
**-**
**-**
**-**
**Year ended**
**Year ended**
**31 March 2023**
**31 March 2022**|
During the year, no trustee received any remuneration, benefit in kind or had any expenses reimbursed as trustees.
- -
|**5 TANGIBLE FIXED ASSETS**
Cost
At 1st March 2022
Additions
**Depreciation**
At 1st March 2022
Charge for the year
**Total Depreciation**
**Net book value**
At 31st March 2023
**At 31st March 2022**|**Equipment**
**Fixtures &**
**Fittings**
**Other Fixed Assets**
**Total**
**£**
**£**
**£**
-
-
-
-|
|---|---|
||**-**
**-**
**-**|
||-
-
-
-
-
-|
||**-**
**-**
**-**|
||**-**
**-**
**-**|
||**-**
**-**
**-**|
**Page 10**
## **SUBODH FOUNDATION UK**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **For the year ended 31 March 2023**
## **6. DEBTORS**
|Due within one year
HMRC tax refund
Prepayments
**7 CREDITORS**
**Amounts falling due within one year**
Trade creditors
Other creditors
**Total resources expended**|**2023**
**2022**
**£**
**£**
-
-
-
-
**-**
**-**
**2023**
**2022**
**£**
**£**
360
-
-
-
**360**
**-**|
|---|---|
**Page 11**
## **SUBODH FOUNDATION UK**
**NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023**
## **8. SUMMARY OF FUNDS**
|**8. SUMMARY OF FUNDS**|||
|---|---|---|
|**Brought Fordward**
**Incoming**
**Resources**
**Resources**
**Expanded**
**Carried**
**Fordward**
**£**
**£**
**£**
**£**
General Funds
-
700
(360)
340
**-**
**700**
**(360)**
**340**
**9. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
**Unrestricted**
**Total Funds**
**12 months ended**
**12 months ended**
**31 March 2023**
**31 March 2022**
**£**
**£**
Tangible fixed assets
Current assets
700
-
Creditors due within one year
(360)
-
**Total**
**340**
**-**|**Brought Fordward**
**Incoming**
**Resources**
**Resources**
**Expanded**
**Carried**
**Fordward**
**£**
**£**
**£**
**£**
-
700
(360)
340||
||**-**
**700**|**(360)**
**340**|
|||**Total Funds**
**12 months ended**
**31 March 2022**
**£**
-
-
**-**|
**Page 12**
## **SUBODH FOUNDATION UK**
## **DETAILED INCOME AND EXPENDITURE ACCOUNT**
**For the year ended 31 March 2023**
**12 months ended 12 months ended 31 March 2023 31 March 2022 £ £ Grant and donation received** Donation 700 - **LESS: COST OF SALES - - - 700 - NET LOSS FROM TRADING ACTIVITIES 700 -**
**Page 13**
## **SUBODH FOUNDATION UK**
## **DETAILED INCOME AND EXPENDITURE ACCOUNT**
## **For the year ended 31 March 2023**
||**12 months ended**||**12 months ended**||
|---|---|---|---|---|
||**31 March 2023**||**31 March 2022**||
||**£**||**£**||
|**CHARITY INCOME**|||||
|**Donations**|||||
|Donatlons,Gifts & Grants- General funds|700||||
|HMRC Charities|-||||
||-||||
|**TOTAL CHARITY INCOME**||**700**||**-**|
|**LESS: CHARITY EXPENDITURE**|||||
|**Total overheads of charity**|**(360)**||**-**||
|**TOTAL CHARITY EXPENDITURE**||**(360)**||**-**|
|**NET INCOME FROM CHARITABLE SOURCES**||**340**||**-**|
|**NET LOSS FROM TRADING ACTIVITIES**||**-**|||
|**NET (EXPENDITURE)/ INCOME FOR THE YEAR**||**340**||**-**|
**Page 14**
## **SUBODH FOUNDATION UK**
## **SCHEDULE TO THE DETAILED ACCOUNTS**
**For the year ended 31 March 2023**
**2023 2022 CHARITY EXPENDITURE £ £** Accountancy fee 360 **Total 360 -**
|||||||||
|---|---|---|---|---|---|---|---|
||**Trustees' Annual Report for the period**|||||||
|**From**|Period start date|||**To**|Period end date|||
||1st|April|2022||31st|March|2023|
Section A Reference and administration details
## **Charity name Subodh Foundation UK**
**Other names charity is known by**
**Registered charity number (if any) 1193175**
**Devonshire Business Centre Charity's principal address** Boundary House Cricket Field Road Uxbridge **Postcode UB8 1QG**
## **Names of the charity trustees who manage the charity**
|**Trustee name**|**Office (if**
**any)**|**Dates acted if not**
**for whole year**|**Name of person (or body)**
**entitled to appoint trustee (if**
**any)**|
|---|---|---|---|
|1. Mr Subodh Timilsina|Chair|||
|2. Mrs Babita Timilsina|Trustee|||
|3. Miss Ajeena Timilsina|Trustee|||
|||||
|||||
|||||
|||||
|||||
## **Names of the trustees for the charity, if any, (for example, any custodian trustees)**
**Name Dates acted if not for whole year**
## **Names and addresses of advisers (Optional information)**
March **2012**
**TAR**
1
|**Type of adviser**
**Name**
**Address**|**Type of adviser**
**Name**
**Address**|**Type of adviser**
**Name**
**Address**|
|---|---|---|
|FINANCIAL ADVISER|Mr. LEKH NATH
GHIMIRE|GNS Associates Ltd, Boundary House,
Cricket Field Road, Uxbridge, UB8 1QG|
||||
||||
||||
## **Name of chief executive or names of senior staff members (Optional information)**
## **Section B Structure, governance and management**
## **Description of the charity’s trusts**
Type of governing document
- (eg. trust deed, constitution)
## [CONSTITUTION ]
How the charity is constituted
(eg. trust, association, ADOPTED company)
Trustee selection methods
- (eg. appointed by, elected by)
> [FOUNDATION MODEL ]
## **Additional governance issues (Optional information)**
N/A You **may choose** to include additional information, where relevant, about:
- policies and procedures adopted for the induction and training of trustees;
- the charity’s organisational structure and any wider network with which the charity works;
- relationship with any related parties;
- trustees’ consideration of major risks and the system and procedures to manage them.
## **Section C Objectives and activities**
**Summary of the objects of the charity set out in its governing document**
FOR THE PUBLIC BENEFIT THE ADVANCEMENT OF EDUCATION OF PUPILS IN NEPAL BY THE PROVISION OF FINANCIAL GRANTS AND CONDUCTING AND PUBLISHING OF RESEARCH TO HELP IMPROVE THE QUALITY OF EDUCATION OFFERED TO PUPILS IN NEPAL.
March **2012**
**TAR**
2
**Report and records of Subodh Foundation UK 1.** £700 was raised as donation from Trustees in the year ended 31 March 2023. **Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)**
## **Additional details of objectives and activities (Optional information)**
March **2012**
**TAR**
3
You **may choose** to include further statements, where relevant, about:
- policy on grant making;
- policy programme related investment;
- contribution made by volunteers.
Section D Achievements and performance
March **2012**
**TAR**
4
Section D Achievements and performance
**Summary of the main MEMBERSHIP achievements of the charity during the year** N/A
March **2012**
**TAR**
5
**Section E Financial review**
General Reserve (unrestricted fund) may be spent on general charitable **Brief statement of the charity’s** activities. **policy on reserves**
Restricted fund are raised for specific purpose will only be spent in the specific charitable activities.
**Details of any funds materially in deficit**
N/A
**Further financial review details (Optional information)**
You **may choose** to include additional information, where relevant about:
- the charity’s principal sources of funds (including any fundraising);
- how expenditure has supported the key objectives of the charity;
- investment policy and objectives including any ethical investment policy adopted.
## **Section F Other optional information**
## **Section G Declaration**
**The trustees declare that they have approved the trustees’ report above.**
**Signed on behalf of the charity’s trustees**
(Electronic signature) **Signature(s)** Subodh Timilsina Subodh Timilsina (Sep 5, 2024 15:04 GMT+1) **Full name(s) Subodh Timilsina Position (eg Secretary, Chair, etc) Trustee/Chair Date 05/09/2024**
March **2012**
**TAR**
6