2024-03-31-accounts - Kamala Foundation CIO

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Charitable Incorporated Organisation Registered number 1193930

KAMALA FOUNDATION CIO

ANNUAL REPORT AND UNAUDITED

FINANCIAL STATEMENTS

Y/E 31 MARCH 2024

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

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

KAMALA FOUNDATON CIO

TRUSTEES' REPORT

YEAR ENDED 31 MARCH 2024

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 2024, 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 Prasad 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. The CIO has written policies also covering Safeguarding, Good Practice Guidance, Reporting Procedures, The Role of Designated Senior Leader and Grant Making.

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.

KAMALA FOUNDATON CIO

TRUSTEES' REPORT

YEAR ENDED 31 MARCH 2024

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 2024, income was £2,305. Expenses were kept to a minimum of £60. We continued to add onto our first fundraise, a project in India to help a severely disadvantaged single mother and sole carer for 2 adult children both with a significant level of muscular dystrophy leaving them wheelchair bound with limited mobility. The aim was to help foster an improved lifestyle for the children together with assisting them to achieve more fulfilling independent lives.

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.

KAMALA FOUNDATON CIO

TRUSTEES' REPORT YEAR ENDED 31 MARCH 2024

Financial position

The balance sheet as at 31 March 2024 shows total funds of £1,101 of which £726 are restricted.

The CIO had at the year-end £1,101 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 aim to expand the fund raising for new projects.

Related parties

No trustee receives any remuneration or other benefit from their work with the CIO.

Approved by the trustees on 19[th] January 2024 and signed on their behalf by:

Trustee

Rima Bajpai Trustee

Ashish Bajpai

KAMALA FOUNDATON CIO TRUSTEES' REPORT

YEAR ENDED 31 MARCH 2024

KAMALA FOUNDATON CIO

TRUSTEES' REPORT YEAR ENDED 31 MARCH 2024

Kamala Foundation CIO

CC16a

1193930

Receipts and payments accounts

For the period 01/04/2023 31/03/2024 To from

Section A Receipts and payments

A1 Receipts	Unrestricted funds to the nearest £ 305 - - - - - - - 305 - - - 305	Restricted funds to the nearest £ 2,000 - - - - - - - 2,000 - - - 2,000	Endowment funds to the nearest £ - - - - - - - - - - - - -	Total funds to the nearest £ 2,305 - - - - - - - 2,305 - - - 2,305	Last year to the nearest £
Donations	305				16,858
Refund of Bank Charges from Lloyds	-				108
	-				-
	-				-
	-				-
	-				-
	-				-
	-				-
*Sub total*(Gross income for AR)	305				16,966

A2 Asset and investment sales, (see table).
	-
	-				-
*Sub total*	-				-
*Total receipts* A3 Payments
					16,966

Fees and Charges	60	-	-	60	92
Transfer to Beneficiaries	-	9,935	-	9,935	9,719
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
*Sub total*	60	9,935	-	9,995	9,811

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*
	60	9,935	-	9,995	9,811
	245 - 130 375	- 7,935 - 8,661 726	- - - -	- 7,690 - 8,791 1,101
	245	- 7,935	-	- 7,690	7,155
	-	-	-	-	-
	130	8,661	-	8,791	1,636
	375	726	-	1,101	8,791

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 £ 375 - - 375 OK	Restricted funds to nearest £ 726 - - 726 OK	Endowment funds to nearest £
				-
				-
				-
				-
				OK

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	Signature Details Details Details Details	Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) - - - - - Fund to which asset belongs Cost (optional) - - - - - - - - - Fund to which liability relates Amount due (optional) - - - - - Print Name RimaBajpai Ashish Bajpai	Endowment funds to nearest £
			-
			-
			-
			-
			-
			-
			Current value (optional)
			-
			-
			-
			-
			-
			Current value (optional)
			-
			-
			-
			-
			-
			-
			-
			-
			-
			When due (optional)






			Date of approval
			19/01/2025
			19/01/2025

CCXX R2 accounts (SS)