CHARITY REGISTRATION NUMBER: 1197508
The Devchandbhai & Kankuben Foundation Financial Statements
31 March 2023
SHAW WALLACE
Chartered accountants & statutory auditor 43 Manchester Street London W1U 7LP
The Devchandbhai & Kankuben Foundation
Financial Statements
Period from 14 January 2022 to 31 March 2023
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent auditor's report to the members | 3 |
| Statement of financial activities | 7 |
| Statement of financial position | 8 |
| Statement of cash flows | 9 |
| Notes to the financial statements | 10 |
The Devchandbhai & Kankuben Foundation
Period from 14 January 2022 to 31 March 2023
Trustees' Annual Report
The trustees present their report and the financial statements of the charity for the period ended 31 March 2023.
Reference and administrative details
Registered charity name The Devchandbhai & Kankuben Foundation Charity registration number 1197508 Principal office 26 Pembroke Road Northwod Middlesex HA6 2HR
The trustees
K D G Shah Z D Shah C S Shah S Shah
All Trustees were appointed on 14 January 2022.
Auditor Shaw Wallace Chartered accountants & statutory auditor 43 Manchester Street London W1U 7LP
Structure, governance and management
The Foundation is governed by a Trust Deed dated 14 January 2022 and was registered as a charity with the Charity Commissioners on 14 January 2022. All decisions are taken by the Trustees. The charity has no staff members.
Objectives and activities
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Achievements and performance
The charity was originally funded by a donation from the Trustees. A substantial proportion of the donation has been invested in unquoted shares.
The Trustees have adopted a total return approach to the capital invested and, whilst retaining full flexibility as to the level of donations in financial period. The Trustees policy is to use their contacts and knowledge of the charitable sector to allocate grants to the educational sector as well as to other charties that offer public benefit.
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The Devchandbhai & Kankuben Foundation
Trustees' Annual Report (continued)
Period from 14 January 2022 to 31 March 2023
Financial review
The Trust recorded net incoming resources of £1,123,583.
Governance costs expended amounted to £7,258.
The Unrestricted income funds stands at £1,123,583).
Trustees' responsibilities statement
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees' annual report was approved on 28 January 2024 and signed on behalf of the board of trustees by:
Z D Shah Trustee
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The Devchandbhai & Kankuben Foundation
Independent Auditor's Report to the Members of The Devchandbhai & Kankuben Foundation
Period from 14 January 2022 to 31 March 2023
Opinion
We have audited the financial statements of The Devchandbhai & Kankuben Foundation (the 'charity') for the period ended 31 March 2023 which comprise the statement of financial activities, statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charity's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the period then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
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The Devchandbhai & Kankuben Foundation
Independent Auditor's Report to the Members of The Devchandbhai & Kankuben Foundation (continued)
Period from 14 January 2022 to 31 March 2023
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:
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the information given in the trustees' report is inconsistent in any material respect with the financial statements; or
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adequate accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
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The Devchandbhai & Kankuben Foundation
Independent Auditor's Report to the Members of The Devchandbhai & Kankuben Foundation (continued)
Period from 14 January 2022 to 31 March 2023
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We focussed on laws and regulations which could give rise to a material misstatement in the financial statements. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management . There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override.
We also consider the below process to detect irregularities including fraud.
The analytical review of the detailed profit and loss account for unexpected variance which is not in the normal course of the operations;
Review the transactions with the related parties identified and also ledgers of the charity;
Review of the control accounts and an unusual or large journal entries;
Discussions with management, including consideration of any known or suspected instances of non compliance with laws and regulations and fraud;
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The Devchandbhai & Kankuben Foundation
Independent Auditor's Report to the Members of The Devchandbhai & Kankuben Foundation (continued)
Period from 14 January 2022 to 31 March 2023
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the charity's members, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.
Hitesh Gadhia (Senior Statutory Auditor)
For and on behalf of Shaw Wallace Chartered accountants & statutory auditor 43 Manchester Street London W1U 7LP
28 January 24
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The Devchandbhai & Kankuben Foundation
Statement of Financial Activities
Period from 14 January 2022 to 31 March 2023
| Period from 14 Jan 22 to | Period from 14 Jan 22 to | ||
|---|---|---|---|
| 31 Mar 23 | |||
| Unrestricted | |||
| funds | Total funds | ||
| Note | £ | £ | |
| Income and endowments | |||
| Donations and legacies | 4 | 1,127,500 | 1,127,500 |
| Investment income | 5 | 3,341 | 3,341 |
| ──────────── | ──────────── | ||
| Total income | 1,130,841 | 1,130,841 | |
| ════════════ | ════════════ | ||
| Expenditure | |||
| Other expenditure | 6,7 | 7,258 | 7,258 |
| ──────────── | ──────────── | ||
| Total expenditure | 7,258 | 7,258 | |
| ════════════ | ════════════ | ||
| ──────────── | ──────────── | ||
| Net income and net movement in funds | 1,123,583 | 1,123,583 | |
| ════════════ | ════════════ | ||
| Reconciliation of funds | |||
| Total funds brought forward | – | – | |
| ──────────── | ──────────── | ||
| Total funds carried forward | 1,123,583 | 1,123,583 | |
| ════════════ | ════════════ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 10 to 16 form part of these financial statements.
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The Devchandbhai & Kankuben Foundation
Statement of Financial Position
31 March 2023
| 31 March 2023 | ||
|---|---|---|
| 31 Mar 23 | ||
| Note | £ | |
| Fixed assets | ||
| Investments | 11 | 792,000 |
| Current assets | ||
| Cash at bank and in hand | 333,383 | |
| Creditors: amounts falling due within one year | 12 | 1,800 |
| ───────── | ||
| Net current assets | 331,583 | |
| ──────────── | ||
| Total assets less current liabilities | 1,123,583 | |
| ──────────── | ||
| Net assets | 1,123,583 | |
| ════════════ | ||
| Funds of the charity | ||
| Unrestricted funds | 1,123,583 | |
| ──────────── | ||
| Total charity funds | 13 | 1,123,583 ════════════ |
These financial statements were approved by the board of trustees and authorised for issue on 28 January 24, and are signed on behalf of the board by:
Z D Shah Trustee
The notes on pages 10 to 16 form part of these financial statements.
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The Devchandbhai & Kankuben Foundation
Statement of Cash Flows
Period from 14 January 2022 to 31 March 2023
| 31 Mar 23 | |
|---|---|
| £ | |
| Cash flows from operating activities | |
| Net income | 1,123,583 |
| Adjustments for: | |
| Other interest receivable and similar income | (3,341) |
| Accrued expenses | 1,800 |
| ──────────── | |
| Cash generated from operations | 1,122,042 |
| Interest received | 3,341 |
| ──────────── | |
| Net cash from operating activities | 1,125,383 |
| ════════════ | |
| Cash flows from investing activities | |
| Purchases of other investments | (1,122,000) |
| Proceeds from sale of other investments | 330,000 |
| ──────────── | |
| Net cash used in investing activities | (792,000) |
| ════════════ | |
| Net increase in cash and cash equivalents | 333,383 |
| Cash and cash equivalents at beginning of period | – |
| ───────── | |
| Cash and cash equivalents at end of period | 333,383 |
| ═════════ |
The notes on pages 10 to 16 form part of these financial statements.
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The Devchandbhai & Kankuben Foundation
Notes to the Financial Statements
Period from 14 January 2022 to 31 March 2023
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 26 Pembroke Road, Northwood, Middlesex, HA6 2HR.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
ln the application of the Charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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The Devchandbhai & Kankuben Foundation
Notes to the Financial Statements (continued)
Period from 14 January 2022 to 31 March 2023
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
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The Devchandbhai & Kankuben Foundation
Notes to the Financial Statements (continued)
Period from 14 January 2022 to 31 March 2023
3. Accounting policies (continued)
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are
recorded at cost less any accumulated impairment losses.
Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
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The Devchandbhai & Kankuben Foundation
Notes to the Financial Statements (continued)
Period from 14 January 2022 to 31 March 2023
3. Accounting policies (continued)
Financial instruments (continued)
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Donations and legacies
| Donations and legacies | ||
|---|---|---|
| Unrestricted | Total Funds | |
| Funds | 2023 | |
| £ | £ | |
| Donations | ||
| Donations | 5,500 | 5,500 |
| Gifts | ||
| Initial donation by Trustees | 1,122,000 | 1,122,000 |
| ──────────── | ──────────── | |
| 1,127,500 | 1,127,500 | |
| ════════════ | ════════════ |
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The Devchandbhai & Kankuben Foundation
Notes to the Financial Statements (continued)
Period from 14 January 2022 to 31 March 2023
5. Investment income
| 5. | Investment income | |||
|---|---|---|---|---|
| Unrestricted | Total Funds | |||
| Funds | 2023 | |||
| £ | £ | |||
| Bank interest receivable | 3,341 | 3,341 | ||
| ═══════ | ═══════ | |||
| 6. | Expenditure on charitable activities by activity type | |||
| Total funds | ||||
| Support costs | 2023 | |||
| £ | £ | |||
| Governance costs | 7,258 | 7,258 | ||
| ═══════ | ═══════ | |||
| 7. | Other expenditure | |||
| Unrestricted | Total Funds | |||
| Funds | 2023 | |||
| £ | £ | |||
| Legal and professional fees | 6,840 | 6,840 | ||
| Bank charges | 418 | 418 | ||
| ─────── | ─────── | |||
| 7,258 | 7,258 | |||
| ═══════ | ═══════ | |||
| 8. | Auditors remuneration | |||
| Period from | ||||
| 14 | Jan 22 to | |||
| 31 Mar 23 | ||||
| £ | ||||
| Fees payable for the audit of the financial statements | 1,800 ═══════ |
9. Staff costs
There were no employees during the period.
10. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
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The Devchandbhai & Kankuben Foundation
Notes to the Financial Statements (continued)
Period from 14 January 2022 to 31 March 2023
11. Investments
| 11. | Investments | |
|---|---|---|
| Other | ||
| investments | ||
| £ | ||
| Cost or valuation | ||
| At 14 January 2022 | – | |
| Additions | 1,122,000 | |
| Disposals | (330,000) | |
| ──────────── | ||
| At 31 March 2023 | 792,000 | |
| ════════════ | ||
| Impairment | ||
| At 14 January 2022 and 31 March 2023 | – | |
| ════════════ | ||
| Carrying amount | ||
| At 31 March 2023 | 792,000 | |
| ════════════ | ||
| All investments shown above are held at valuation. | ||
| 12. | Creditors: amounts falling due within one year | |
| 31 Mar 23 | ||
| £ | ||
| Accruals and deferred income | 1,800 | |
| ═══════ |
13. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 14 | January 2 | 31 March 202 | |||
| 022 | Income | Expenditure | 3 | ||
| £ | £ | £ | £ | ||
| General funds | – | 1,130,841 | (7,258) | 1,123,583 |
|
| ════ | ════════════ | ═══════ | ════════════ | ||
| Analysis of net assets between funds | |||||
| Unrestricted | Total Funds | ||||
| Funds | 2023 | ||||
| £ | £ | ||||
| Investments | 792,000 | 792,000 | |||
| Current assets | 331,583 | 331,583 | |||
| ──────────── | ──────────── | ||||
| Net assets | 1,123,583 | 1,123,583 | |||
| ════════════ | ════════════ | ||||
| Analysis of changes in net debt | |||||
| At | At | ||||
| 14 Jan | 2022 | Cash flows | 31 Mar 2023 | ||
| £ | £ | £ | |||
| Cash at bank and in hand | – | 333,383 | 333,383 | ||
| ════ | ═════════ | ═════════ |
14. Analysis of net assets between funds
15. Analysis of changes in net debt
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The Devchandbhai & Kankuben Foundation
Notes to the Financial Statements (continued)
Period from 14 January 2022 to 31 March 2023
16. Related parties
During the period the Trustees donated unquoted shares at value of £1,122,000 and made a further donation of £5,500 to the charity.
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