## **JOURNEY WITHIN FOUNDATION**
## CIO No. CE027661 Charity No. 1197171
Trustees' report and financial statements
For the period ended
31 December 2023
Journey Within Foundation For the period ended 31[st] December 2023
|**Tabe of contents**|**Page**|
|---|---|
|Information page|3|
|Trustees' report|4-6|
|Independent examiner's report|7|
|Statement of financial activities|8|
|(incorporating the income and expenditure account)||
|Balance sheet|9|
|Notes to the accounts|10 to 15|
2
Journey Within Foundation For the period ended 31[st] December 2023
## MEMBERS OF BOARD AND PROFESSIONAL ADVISORS
|Registered charity name|JOURNEY WITHIN FOUNDATION|
|---|---|
|Charity number|1197171|
|Company registration number|CE027661|
|Registered office|42 Rutland Road,|
||Harrow,|
||HA1 4JW|
|Trustees|Bhavik Nalin Kumar Patel (Chair)|
||Sonya Sethi (Appointed 02/02/2024)|
||Vinay Raniga (Appointed 24/01/2024)|
||Parth Bhatnagar (Appointed 27/02/2023)|
||Mihir Kara(Appointed 16/12/2021)|
||Aljaz Mihelic (Resigned 05/12/2023)|
|Independent examiners|Sterling Young Limited|
||238, Suite 50, Merton High Street|
||Wimbledon|
||London- SW19 1AU|
||England|
3
Journey Within Foundation For the period ended 31[st] December 2023
## **TRUSTEE’S ANNUAL REPORT FOR THE PERIOD ENDED 31[ST] December 2023**
The trustees, who are also directors for the purposes of company law, present their report and the unaudited accounts of the charity for the period ended 31 December 2023.
The trustees confirm that the financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
Reference and administrative details are shown in the schedule of members of the board and professional advisers on page 3 of the accounts.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The company is a Charitable Incorporated Organisation (CIO) established on 16 December 2021. It does not have share capital, and in the event of winding up, the members of the CIO bear no liability for its assets or personal responsibility for settling its debts and liabilities. The charity operates under its memorandum and Articles of Association, which serve as its governing documents, alongside the CIO constitution.
The charity is overseen by a Board of Trustees, appointed based on their experience and potential to add value. Together, the Board members collaborate to ensure the charity's objectives are achieved, aligning with the organisation’s broader charitable purposes.
The Board of Trustees jointly makes decisions that support the charity’s mission. Trustees, whether existing or prospective, must demonstrate the necessary skills and understanding to address the organisation’s needs and are selected accordingly. Daily operations are carried out by a team of volunteers and employees, who report regularly to the trustees. All major decisions are collectively discussed and made by the trustees. The trustees are unpaid and contribute their time voluntarily.
## **OBJECTIVES AND ACTIVITIES**
The charity's objectives are as follows:
(a) To advance education in the philosophies and practices of yoga and meditation, particularly through the provision of classes, courses, and informational resources.
(b) To promote physical and mental well-being, especially by offering yoga and meditation classes, courses, and related information.
(c) To further any other purposes that are exclusively charitable under the laws of England and Wales, as determined by the trustees from time to time, including but not limited to awarding grants.
The charity has fulfilled its educational objective by developing and offering online video courses, and it continues to promote physical and mental health across the UK.
## **PUBLIC BENEFIT**
The charity has taken into account the Charity Commission's general guidance on public benefit when reviewing its aims and objectives and planning future activities. The trustees believe that the charity's objectives clearly serve the public benefit.
4
Journey Within Foundation For the period ended 31[st] December 2023
## **TRUSTEE’S ANNUAL REPORT FOR THE PERIOD ENDED 31[ST] December 2023 (continued)**
## **ACHIEVEMENTS AND PERFORMANCE**
In 2023/24, the charity continued its efforts to provide high-quality educational videos and courses that align with its objectives. Several courses were filmed with influencers such as Radhika Das, Gaura Vani, and Gopi, and showcased across platforms like Instagram and YouTube to promote the benefits of yoga and meditation. The charity successfully launched its platform on Kajabi in May 2023, focusing on social media and email marketing, with plans to explore affiliate partnerships and paid advertisements. A significant milestone was the free meditation webinar with Jahnavi Harrison, which attracted over 1,000 signups and led to 40 course and membership purchases. The charity developed a robust 2-week social media and email campaign, supporting both free and paid courses. Looking forward, the charity is expanding its reach in India, addressing pricing and payment system challenges, and plans to further improve marketing strategies, produce more interactive courses, and launch a de-addiction brand featuring retreats and weekly meetings. Additionally, the charity has been actively engaging with influential figures and organizations to explore potential partnerships and secure financial support for future growth.
## **PLANS FOR THE FUTURE**
The charity's primary goal is to continue pursuing its core objectives in the coming years, building on the progress achieved so far to reach and positively impact even more people in the UK and globally.
## **FINANCIAL REVIEW**
The charities affairs and activities for the period are presented in the financial statement set out on page 8 and the financial position at the end of the period is set out on page 9.
## **RESERVES POLICY**
The Charity's reserves policy continues to be that of ensuring that the total unrestricted fund held within the general and designated reserves are equal to three months of budgeted unrestricted expenditure, thus ensuring that the organization would be able to wind up its affairs efficiently if faced with financial difficulties. Trustees are continuing our policy to spend down excess reserves.
## **GOING CONCERN**
We have sufficient financial resources and established structures to effectively manage business risks. Our annual budgeting and forecasting processes account for the current economic climate and its potential impact on our income and expenditures.
We are confident that we have the necessary resources and control mechanisms to sustain operations for the foreseeable future. Additionally, we do not anticipate any material uncertainties that would affect the charity's ability to continue as a going concern.
## **RISK STATEMENT**
The Trustees have evaluated the major risks the charity faces, particularly in relation to its operations and finances, and are confident that appropriate systems are in place to mitigate these risks.
While the Trustees acknowledge the risk of overspending, they manage this through regular cash flow reporting, reducing expenses when income is not matched, and expanding the volunteer base.
Another key risk involves the accuracy of the charity’s content. To address this, the Trustees ensure partnerships with reputable, professional teachers, enhance research efforts, and verify facts against multiple sources.
The Trustees have also reviewed the charity’s overall risk position and are implementing additional measures to further safeguard its assets.
5
Journey Within Foundation For the period ended 31[st] December 2023
## **TRUSTEE’S ANNUAL REPORT FOR THE PERIOD ENDED 31[ST] December 2023 (continued)**
## **STATEMENT OF RESPONSIBILITIES OF THE TRUSTEES**
The trustees are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (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, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- Select suitable accounting policies and then apply them consistently.
- Observe the methods and principles in the Charities SORP
- State whether applicable UK Accounting Standards and statements of recommended practice 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 charity will continue in operation.
The trustees are responsible for keeping proper accounting records that 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 Charities Act. 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The trustees' annual report has been approved by the trustees and signed on their behalf by
Bhavik Patel **Trustee** Date:29[th ] October 2024
6
Journey Within Foundation For the period ended 31[st] December 2023
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF JOURNEY WITHIN FOUNDATION (‘THE CHARITY’)**
I report to the charity trustees on my examination of the accounts of the Charity for the period ended 31 December 2023.
## **Responsibilities and basis of report**
As the charity’s trustees of the Charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act (‘the Act’).
Having satisfied myself that the accounts of the Charity are not required to be audited and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Charity as required; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Shoolin Yagnik On Behalf of
STERLING YOUNG LIMITED
Suite 50, 238 Merton High Street Wimbledon London SW19 1AU Date: 29[th] October 2024
7
Journey Within Foundation For the period ended 31[st] December 2023
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE PERIOD ENDED 31 DECEMBER 2023**
|**Note**
**INCOME**
Income from:
Donations and legacies
**2**
**TOTAL INCOME**
**EXPENDITURE**
Expenditure on: Charitable
Activities:
Direct Staff cost
**3**
Administrative expenses
**4**
**TOTAL EXPENDITURE**
**Net Income/(expenditure) &**
**Net movements in funds**
Funds brought forward
**Funds carry forward**|**Unrestricted**
**Restricted**
**Total**
**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**Funds**
**Funds**
**Funds**
**Funds**
**2023**
**2023**
**2023**
**2022**
**2022**
**2022**
**£**
**£**
**£**
**£**
**£**
**£**
**292,250**
**-**
**292,250**
**198,297**
**-**
**198,297**|
|---|---|
||**292,250**
**-**
**292,250**
**198,297**
**-**
**198,297**|
||**51,849**
**-**
**51,849**
**22,600**
**-**
**22,600**
**112,408**
**-**
**112,408**
**84,195**
**-**
**84,195**|
||**164,257**
**-**
**164,257**
**106,795**
**-**
**106,795**|
||**127,993**
**-**
**127,993**
**91,502**
**-**
**91,502**|
||**91,502**
**-**
**91,502**
**-**
**-**
**-**
**219,495**
**-**
**219,495**
**91,502**
**-**
**91,502**|
- All of the above results are derived from continuing activities.
- There were no recognized gains and losses other than those stated above.
- The comparative Statement of Financial Activities is available in the notes to the accounts.
- The annexed notes form part of these financial statements.
8
Journey Within Foundation For the period ended 31[st] December 2023
|**BALANCE SHEET AS AT 31 DECEMBER 2023**
**Note**
**Fixed Assets**
Computer Equipment
6
Intangibles
**CURRENT ASSETS**
Debtors
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
7
**NET CURRENT ASSETS**
**Creditors: amounts falling due**
**after more than one year:**
**NET ASSETS**
**FUNDS**
Restricted funds
8
**Unrestricted funds**
Designated funds
8
General fund
8
**Total unrestricted funds**||**£**
**1,095**
**34,763**|**2023**
**£**
**35,858**
**183,637**
-|**£**
**-**|**2022**
**£**
**91,502**
-|
|---|---|---|---|---|---|
|||**35,858**
**194,055**||**-**
**97,317**||
|||**194,055**
**(10,418)**
**-**
**219,495**||**97,317**
**(5,815)**||
|||||
**-**
**91,502**||
||||**219,495**||**91,502**|
||||**-**
**219,495**||**-**|
||||||**91,502**|
||||**219,495**||**91,502**|
The trustees consider that the Charity is entitled to exemption from the requirement to have an audit and members have not required the Charity to obtain an audit for the year in question.
The trustees acknowledge their responsibilities for complying with the requirement of the Charities Act with respect to accounting records and the preparation of the financial statements.
The financial statements were approved, and authorized for issue, by the trustees on 29[th] October 2024 and signed on their behalf by:-
Bhavik Patel Trustee **Company registration no. CE027661** Date: 29[th] October 2024
The annexed notes form part of these financial statements.
9
Journey Within Foundation For the period ended 31[st] December 2023
## NOTES TO THE FINANCIAL STATEMENTS
## **1. ACCOUNTING POLICIES**
## **Statement of Compliance**
The financial statements have been prepared in accordance with 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 - (Charities SORP FRS 102).
The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognized at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
## **General Information**
The Charity is a CIO (Charitable Incorporated Organization), incorporated in England and Wales (company number: CE027661) and a charity registered in England and Wales (charity number: 1197171). The Charity’s registered office address is 42 Rutland Road, Harrow, HA1 4JW
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. Key judgements that the charitable company has made which have a significant effect on the accounts include preparing forecasts and long-term business strategy. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
## **Income**
Income is recognized when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
## **Donations of gifts, services and facilities**
Donated professional services and donated facilities are recognized as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognized.
On receipt, donated gifts, professional services and donated facilities are recognized on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognized in expenditure in the period of receipt.
## **Expenditure and irrecoverable VAT**
Expenditure is recognized once there is a legal or constructive 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 reliably. Expenditure is classified under the following activity headings:
- Expenditure on charitable activities includes the costs of delivering services, exhibitions and other educational activities undertaken to further the purposes of the charity and their associated support costs.
-
- Other expenditure represents those items not falling into any other heading.
- Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of the charity
## **Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
10
Journey Within Foundation For the period ended 31[st] December 2023
## **ACCOUNTING POLICIES (continued)**
## **Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
||**2023**|**2022**|
|---|---|---|
||**£**|**£**|
|Financial assets at amortized cost (a)|**194,055**|**97,317**|
|Financial liabilities at amortized cost (b)|**10,418**|**5,815**|
- a) comprising all cash and cash equivalents
b) comprising all creditors as detailed per Note 7 , other than deferred income and taxation and social security.
## **Debtors**
Trade and other debtors are recognized at the settlement amount due after any trade discount offered.
## **Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **Creditors and provisions**
Creditors and provisions are recognized where the charity has a present obligation resulting from a past event.
## **Pensions**
The charity provides a defined contribution pension scheme to current employees, the assets of which are held separately from those of the company in an independently administered fund. Contributions are charged to expenditure as they fall due.
## **Employee benefits**
Short term benefits including holiday pay are recognized as an expense in the period in which the service is received.
## **Significant judgments and sources of estimation uncertainty**
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Charity’s accounting policies. The key judgements that have been applied by management relate to depreciation rates.
## **2. DONATIONS AND LEGACIES**
|Donations|**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**Funds**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**292,250**
**-**
**292,250**
**292,250**
**292,250**|
|---|---|
11
Journey Within Foundation For the period ended 31[st] December 2023
## **3. DIRECT STAFF COST**
The key management personnel of the Charity comprise the trustees. The total amounts paid in respect of the key management personnel of the Charity (including employer's National Insurance contributions and employer's pension contributions) were £nil. None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
|Direct Wages
Pensions|**2023**
**2022**
**£**
**£**
**50,339**
**22,000**
**1,510**
**600**
**51,849**
**22,600**|
|---|---|
The number of employees earning over £60,000 in the year (exclusive of employer National Insurance contributions) were as follows:
**2023 No.** £60,000 < £69,999 **0**
No trustees were reimbursed any expenses in the year or the previous year.
The average monthly number of staff employed by the Charity during the financial year was **3**
## **4. ADMINSTRATIVE EXPENSES**
||**2023**|**2022**|
|---|---|---|
||**£**|**£**|
|**Administrative cost:**|||
|Computer Equipment Depreciation charge|**365**
|**-**|
|Advertising & Marketing|**1,255**
|**-**|
|Audit & Accountancy fees|**5,100**|**1,100**|
|Payroll Processing Fee|**360**|**140**|
|Bank Fees|**1,379**|**1,582**|
|Cleaning|**250**
|**-**|
|General Expenses|**3,552**
|**75,464**|
|Legal Expenses|**70,868**|**1,212**|
|Motor Vehicle Expenses|**757**|**136**|
|IT Software and Consumables|**10,730**
|**-**|
|Rent|**1,820**
|**-**|
12
Journey Within Foundation For the period ended 31[st] December 2023
|Subscriptions
Travel - National
Travelling & Entertainment
Bank Revaluations
**Total**|**1,878**
**268**
**10,107**
**-**
**3,783**
**4,293**
**205**
**-**
**112,409**
**84,195**|
|---|---|
## **5. TAXATION**
The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
## **6. FIXED ASSETS**
Tangible assets are stated in the balance sheet at cost, less accumulated depreciation and any accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
## **Depreciation:**
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
## **Assets class**
## **Depreciation rate and method**
Computer equipment 25% on cost
|
**Cost or valuation**
At 1st Jan 2023
Additions
At 31stDec 2023
**Depreciation**
Charge for the year
At 31stDec 2023
**Net book value**
At 31stDec 2023|**Total**
**Total**
**Computer**
**Computer**
**Equipment**
**Equipment**
**At cost**
**At cost**
**At cost**
**At cost**
**2023**
**2023**
**2022**
**2022**
**£**
**£**
**£**
**£**
**-**
**-**
**-**
**-**
**1,460**
**1,460**
**-**
**-**|
|---|---|
||**1,460**
**1,460**
**-**
**-**|
||**-**
**-365**
**-365**
**-**
**-**|
||**1,095**
**1,095**
**-**
**-**|
||**-**|
||**1,095**
**1,095**
**-**
**-**|
||**Total**
**Total**|
13
Journey Within Foundation For the period ended 31[st] December 2023
|**Cost or valuation**
At 1stJan 2023
Additions
At 31stDec 2023
**Amortization**
Charge for the year
At 31stDec 2023
**Net book value**
At 31stDec 2023|**Intangibles**
**Intangibles**
**At cost**
**At cost**
**At cost**
**At cost**
**2023**
**2023**
**2022**
**2022**
**£**
**£**
**£**
**£**
**-**
**-**
**-**
**-**
**34,763**
**34,763**
**-**
**-**|
|---|---|
||**34,763**
**34,763**
**-**
**-**|
||**-**
**-**
**-**
**-**|
||**-**
**-**
**-**
**-**|
||**34,763**
**34,763**
**-**
**-**|
## **7. CREDITORS: FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Taxation and social security
Pension payable
Other creditors
Accruals
Directors' Loan Account|**2023**
**2022**
**£**
**£**
**908**
**1,794**
**1,191**
**467**
-
**2,314**
**5,100**
**1,240**
**3,220**
**-**
**10,419**
**5,815**|
|---|---|
## **8. STATEMENT OF FUNDS - CURRENT YEAR**
|General fund
Designated funds
Total unrestricted funds
Restricted funds
**Total funds**|**Balance at**
**Balance at**
**31 December**
**2022**
**Income**
**Expenditure**
**Transfers**
**31 December**
**2023**
**£**
**£**
**£**
**£**
**£**
**91,502**
**292,250**
**-164,257**
**-**
**219,495**
**-**
**-**
**-**
**-**|
|---|---|
||**-**
**292,250**
**-164,257**
**-**
**219,495**
**-**|
||**91,502**
**292,250**
**-164,257**
**-**
**219,495**|
14
Journey Within Foundation For the period ended 31[st] December 2023
## **9. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|**Current year**
Net assets|**Designated**
**General**
**Restricted**
**Total**
**funds**
**funds**
**funds**
**funds**
**£**
**£**
**£**
**£**
**-**
**219,495**
**- 219,495**
**-**
**219,495**
**- 219,495**|
|---|---|
## **10. OPERATING LEASE COMMENTS**
The charity has no future minimum lease payments under non-cancellable operating leases.
## **11. LEGAL STATUS**
The charity is a Charitable Incorporate Organization and has no share capital.
## **12. RELATED PARTY TRANSACTIONS**
There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.
15