Charitable Incorporated Organisation Registered number 1193930
## KAMALA FOUNDATION CIO
ANNUAL REPORT AND UNAUDITED
FINANCIAL STATEMENTS
Y/E 31 MARCH 2023
1
## **KAMALA FOUNDATION CIO CONTENTS**
||**Pages**|
|---|---|
|Legal and Administrative Information|3|
|Trustees' Report|4-6|
|Unaudited Financial Statements:|7-8|
|Receipts and Payments Accounts &||
|Statement of Assets and Liabilities||
2
## **KAMALA FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION**
Kamala Foundation CIO is constituted as a Charitable Incorporated Organisation (CIO)
## **Constitution**
**Registered number** 1193930 **Name** Kamala Foundation CIO **Working name** Kamala Foundation CIO **Principal address** Sterling House 71 Francis Road Edgbaston Birmingham B16 8SP **Trustees** Rima Bajpai (Chairman) Ashish Bajpai Raghavendra Prasad Arni Jayashree Tyagi
## **Trustees**
## **Bankers**
Lloyds Bank Plc 125 Colmore Road Birmingham B3 3SD
3
**KAMALA FOUNDATON CIO**
**TRUSTEES' REPORT**
## **YEAR ENDED 31 MARCH 2023**
## **Trustees' Report**
The trustees present their statutory report together with the unaudited Financial Statements (consisting of the Receipts and Payment Accounts and Statement of Assets and Liabilities) of Kamala Foundation CIO ("the CIO") for the year ended 31 March 2023, as permitted under section 133 of the Charities Act 2011 (‘the Charities Act’).
The Receipts and Payment Accounts together with the Statement of Assets and Liabilities have been prepared in accordance with relevant policies and comply with the CIO's constitution, applicable laws, the requirements of the Charities Act 2011 and the Charities SORP (FRS 102).
## **Structure, Governance and Management**
## _Constitution and objects_
The Kamala Foundation CIO - Charity Registration No.1193930 - was established under a 'Foundation' model constitution dated 4th March 2021 and was registered with the Charity Commission on 26th March 2021. The charitable objects of the CIO are to relieve and prevent poverty in the UK and India, for the public benefit by the provision of grants, items and services to individuals in need and/or charities, or other organisations working to prevent or relieve poverty. To relieve the needs of people who are in need by reason of their age, financial hardship, ill-health or disability or other social or economic disadvantage living in the UK and India in particular but not exclusively by the provision of financial support that will enable mobility aids to be purchased or enable adaptions to be made to the beneficiaries homes that will improve their mobility or enable the beneficiaries to remain living independently.
_Organisation_
The trustees are appointed by resolution of the existing trustees in accordance with the constitution. The trustees who served during the year were:
Rima Bajpai Ashish Bajpai Raghavendra Arni Jayashree Tyagi
Trustees review the financial statements of the CIO, its constitution, the CIO's written policies, minutes of recent meetings of the trustees and the Charity Commission guidance on charity law and regulation.
Meetings of trustees normally take place as and when required and in any event not less frequently than quarterly.
None of the Trustees take any expenses or income for their services provided to the CIO.
4
**KAMALA FOUNDATON CIO**
## **TRUSTEES' REPORT**
## **YEAR ENDED 31 MARCH 2023**
## _Statement of Trustee’s Responsibilities_
The Trustees (who are also directors for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and the United Kingdom Generally Accepted Accounting Practice.
Company law 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 incoming resources and application of resources. This includes the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to: -
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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 prevention and detection of fraud and other irregularities.
## _Activities_
With respect to the activities of the CIO, the trustees have had regard to the Charity Commission's general guidance on the provision of public benefit together with relevant specific guidance.
## _Achievements, Performance and Financial Review_
The principal funding source of the CIO is from donations received. In the year ended 31 March 2023, income was £16,858. Expenses were kept to a minimum of £92. The CIO continued with the fundraise for a project in India to help a severely disadvantaged family including 2 adult wheelchair bound siblings both suffering from muscular dystrophy and consequently severely restricted mobility. The aim was to help foster an improved lifestyle together with assisting them to achieve more fulfilling independent lives. Fund raising was undertaken through contributions into the charity account for the designated cause.
## _Reserves policy_
The policy of the trustees is to retain enough reserves to cover at least 6 months of operational expenses.
## _Going concern_
The trustees consider that the CIO has adequate financial resources and is well placed to manage its business risks. Expenses are kept to a minimum were possible and Trustees provide their services for free.
The trustees believe that there are no material uncertainties that call into doubt the CIO's ability to continue. The accounts have therefore been prepared on the basis that the CIO is a going concern.
5
**KAMALA FOUNDATON CIO**
**TRUSTEES' REPORT**
## **YEAR ENDED 31 MARCH 2023**
## _Financial position_
The balance sheet as at 31 March 2023 shows total funds of £8,791 of which £8,661 are restricted.
The CIO had at the year-end £8,791 of liquidity in the form of cash deposits, of which the unrestricted amount was in excess of six months' normal operational costs.
## _Investment policy_
The investment policy of the CIO is to safeguard the funds of the CIO by keeping them in either the current or deposit savings accounts.
It is the policy of the trustees that all cash deposits held by the CIO shall qualify for compensation under the Financial Services Compensation Scheme.
## _Future plans_
The CIO will continue to work on expanding its funding sources and to meet its objectives for the public benefit.
## _Related parties_
No trustee receives any remuneration or other benefit from their work with the CIO.
Approved by the trustees on 20[th] January 2024 and signed on their behalf by:
Trustee Rima Bajpai
Ashish Bajpai
Trustee
6
**KAMALA FOUNDATON CIO**
**TRUSTEES' REPORT**
## **YEAR ENDED 31 MARCH 2023**
7
**KAMALA FOUNDATON CIO**
**TRUSTEES' REPORT**
## **YEAR ENDED 31 MARCH 2023**
8
**Kamala Foundation CIO**
**CC16a**
**1193930**
## **Receipts and payments accounts**
**For the period** 01/04/2022 31/03/2023 **To from**
## **Section A Receipts and payments**
|**A1 Receipts**|**Unrestricted**
**funds**
**to the nearest £**|**Unrestricted**
**funds**
**to the nearest £**|**Restricted funds**
**to the nearest £**|**Restricted funds**
**to the nearest £**|**Endowment**
**funds**
**to the nearest £**|**Endowment**
**funds**
**to the nearest £**|**Total funds**
**to the nearest £**|**Total funds**
**to the nearest £**|**Last year**
**to the nearest £**|
|---|---|---|---|---|---|---|---|---|---|
|
Donations|**-**||**16,858**||**-**||**16,858**||**4,330**|
|Refund of bank charges from Lloyds|**108**||**-**||**-**||**108**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
|**_Sub total_**_(Gross income for AR)_|**108**||**16,858**||**-**||**16,966**||**4,330**|
|||||||||||
|**A2 Asset and investment sales,**
**(see table).**||||||||||
||**-**|||||||||
||**-**||||||||**-**|
|**_Sub total_**|**-**||||||||**-**|
|**_Total receipts_**
**A3 Payments**||||||||||
||||||||||**4,330**|
|||||||||||
|
Fees and Charges|**92**||**-**||**-**||**92**||**116**|
|Transfer to Beneficiaries|**-**||**9,719**||**-**||**9,719**||**2,578**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
|**_Sub total_ **|**92**||**9,719**||**-**||**9,811**||**2,694**|
|||||||||||
|**A4 Asset and investment**
**purchases, (see table)**||||||||||
||**-**|||||||||
||**-**|||||||||
|**_Sub total_ **|**-**||||||||**-**|
|**_Total payments_**
**_Net of receipts/(payments)_**
**A5 Transfers between funds**
**A6 Cash funds last year end**
**_Cash funds this year end_**||||||||||
||||||||||**2,694**|
|||||||||||
||**16**||||||||**1,636**|
||**-**||||||||**-**|
||**114**||||||||**-**|
||**130**||||||||**1,636**|
## **Section B Statement of assets and liabilities at the end of the period**
|CCXX R1 accounts (SS)
**Categories**
**B1 Cash funds**|1
Cash in Lloyds Bank
**Details**
**_Total cash funds_**
(agree balances with receipts and payments account(s))|**Unrestricted**
**funds**
**to nearest £**
**130**
**-**
**-**
**130**
OK|23/01/2024
**Restricted funds**
**Endowment**
**funds**
**to nearest £**
**to nearest £**
**8,661**
**-**
**-**
**-**
**-**
**-**
**8,661**
**-**
OK
OK|**Endowment**
**funds**
**to nearest £**|
|---|---|---|---|---|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|Signed by one or two trustees on
behalf of all the trustees
**B2 Other monetary assets**
**B4 Assets retained for the**
**charity’s own use**
**B5 Liabilities**
**B3 Investment assets**|**Details**|**Details**|**Unrestricted**
**funds**
**to nearest £**|**Unrestricted**
**funds**
**to nearest £**|**Restricted funds**
**to nearest £**|**Restricted funds**
**to nearest £**|**Endowment**
**funds**
**to nearest £**|
|---|---|---|---|---|---|---|---|
||||**-**||**-**||**-**|
||||**-**||**-**||**-**|
||||**-**||**-**||**-**|
||||**-**||**-**||**-**|
||||**-**||**-**||**-**|
||||**-**||**-**||**-**|
||**Details**||**Fund to which asset**
**belongs**||**Cost (optional)**||**Current value**
**(optional)**|
||||||**-**||**-**|
||||||**-**||**-**|
||||||**-**||**-**|
||||||**-**||**-**|
||||||**-**||**-**|
||Signature
**Details**
**Details**||**Fund to which asset**
**belongs**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Fund to which**
**liability relates**
**Amount due**
**(optional)**
**-**
**-**
**-**
**-**
**-**
Print Name
RimaBajpai
Ashish Bajpai||||**Current value**
**(optional)**|
||||||||**-**|
||||||||**-**|
||||||||**-**|
||||||||**-**|
||||||||**-**|
||||||||**-**|
||||||||**-**|
||||||||**-**|
||||||||**-**|
||||||||**When due**
**(optional)**|
|||||||||
|||||||||
|||||||||
|||||||||
|||||||||
|||||||||
||||||||Date of approval|
||||||||20/01/2024|
||||||||20/01/2024|
|||||||||
2 0 /01/2024
CCXX R2 accounts (SS)
2