NIMSDAI FOUNDATION
DIRECTORS' AND TRUSTEES' REPORT
AND
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31ST MARCH 2025
Charity No. 1198560
Company No. 13095747 (Registered in England and Wales)
NIMSDAI FOUNDATION
Company No. 13095747 (Registered in England and Wales) Charity No. 1198560
CONTENTS
| Page | |
|---|---|
| Officers and professional advisers | 1 |
| Trustee / Director's report | 2 to 5 |
| Independent Examiner's report | 6 |
| Notes to the financial statements | 7 to 8 |
| Statement of Financial Activities | 9 to 11 |
| Balance sheet | 12 |
NIMSDAI FOUNDATION OFFICERS AND PROFESSIONAL ADVISERS
Directors and trustees Suchi Purja (Chair) Nirmal Purja Kamal Bahadur Purja Joseph Joyce Chris Thomas Donna McReath Chris Dixon Milly Lamer Executive Director Glen Mallen
Charity number 1198560 Registered Office NIMSDAI LTD C/O Clintons, 2 St. Giles Square, London, England, WC2H 8AP Bankers Royal Bank of Scotland, Victoria Road, Farnborough,GU14 7NR Independent Examiner Richard Allen & Associates (Accountants) 21 Church Road, Parkstone, Poole, Dorset, BH14 8UF
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Nimsdai Foundation
REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31ST MARCH 2025
As we reflect on this past year, it is clear that while we have faced significant challenges, we have also demonstrated the resilience, determination, and spirit that define the Nimsdai Foundation.
I am incredibly proud of what we have achieved. Through inspiring fundraising events, a growing community of supporters, and the unwavering dedication of our team, we have strengthened our charitable pillars—Education, Environment, Inspiring Others, and Disaster Response.
This year, we have witnessed the power of collective action. From the success of our fundraising initiatives to the real-world impact of our projects, it is clear that our mission resonates with many.
We have supported communities in need, empowered the next generation through education, taken meaningful steps to protect our environment, and provided aid in times of crisis.
These achievements are not just milestones—they are testaments to what we can accomplish when we come together with purpose and passion.
Our growing community of supporters and partners continues to be the driving force behind our success. Whether through donations, volunteering, or simply spreading awareness, every contribution has played a crucial role in strengthening our foundation and expanding our reach.
Looking ahead, the horizon is bright. We have bold ambitions, exciting projects in motion, and an expanding global network that believes in our mission. The challenges we have faced have only made us stronger, more determined, and better prepared for the road ahead.
There is still much to do, but with the unwavering spirit of our team and supporters, I have no doubt that we will continue to climb higher and achieve even greater impact.
Thank you for being part of this journey. Together, we are proving that no peak is too high when we climb with purpose.
Suchi Purja Trustee
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Nimsdai Foundation
REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31ST MARCH 2025
Statement of Trustees' Responsibilities
The trustees (who are also the directors of the Nimsdai Foundation for the purposes of company law) are responsible for preparing the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
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Select suitable accounting policies and apply them consistently.
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Observe the methods and principles in the Charities SORP.
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Make judgements and 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 charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and 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 prevention and detection of fraud and other irregularities.
Recruitment and appointment of new trustees
The charity regularly reviews the skills of Trustees/Directors, and any needs that are not being met by the current membership are filled through recruitment of new Trustees/Directors. Recruitment is through a combination of:
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Direct approach to suitably qualified individuals known to the existing Trustees/Directors;
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Advertising for applicants through the media and other outlets; and
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Using Board ‘banks’, etc. maintained by support bodies.
The Board of Trustees/Directors has established procedures for recruiting and appointing Trustees/Directors, including identification of potential candidates, informal visits or discussions, formal application and interview, consideration by the full Board of Trustees/Directors, and finally election by a majority of votes. This year saw 5 new trustees being appointed into role.
Service Delivery and Assurance
The board of trustees are responsible for the governance of the charity. The charity has an appointed Executive Director who is responsible for the day-to-day leadership and delivery of the operational activity.
To ensure that the services delivered meet the requirements of the Foundations objectives as well as the beneficiaries we are here to support the Board meet every quarter to measure performance and discuss, address, and resolve any issues presented. If required any approvals needed are taken to the board meeting. Exceptional boards meetings are convened for any urgent matters.
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NIMSDAI FOUNDATION
REPORT OF THE TRUSTEES (continued)
FOR THE YEAR ENDED 31ST MARCH 2025
OBJECTIVES OF THE NIMSDAI FOUNDATION
The Nimsdai Foundation is registered as a charity with the Charity Commission and constituted as a company limited by guarantee, registered in England and Wales, and governed by a memorandum and articles of association.
The Foundations objects are:
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The advancement of environmental protection or improvement for the public benefit, including by providing grants, sponsorships or other financial assistance to organisations or projects that support
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(a) recycling and the reduction or removal of waste pollution in the Himalayas and other mountain ranges;
(b) the use of renewable or low-carbon energy; and/or
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(c) farming techniques with a positive impact on local ecosystems;
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The prevention or relief of poverty, and the advancement of education for the public benefit, including by providing grants, sponsorships or other financial assistance to support the education of women and girls in Nepal, northern Pakistan and other developing countries;
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The relief for the public benefit of financial need and suffering among victims of natural or other kinds of disasters (such as viral pandemics, earthquakes and major climbing incidents), including by providing grants, sponsorships or other financial assistance to such victims within mountain and climbing support communities;
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The relief for the public benefit of the needs of former members of her majesty’s armed forces, including those who have suffered from life-changing physical injuries or mental health conditions, including but not exclusively by providing grants, sponsorships or other financial assistance and by arranging activities to promote their physical or mental health;
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The advancement of such other purposes that are exclusively charitable according to the law of England and Wales as the trustees see fit from time to time
FINANCIAL REVIEW
The Statement of Financial activities shows a balance of £175,500 for the year.
The financial climate remains extremely challenging and we are continue to engage with individuals, business and delivering events to generate income for our future projects.
The Trustees / Directors remain confident that there are sufficient funds, both available and due to be received, to support the services being delivered by The Foundation through to the end of the next financial year on 31st March 2025.
The charity's current policy concerning the payment of trade creditors is to:
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settle the terms of payment with suppliers when agreeing the terms of each transaction;
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ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
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pay in accordance with the charity's contractual and other legal obligations.
Reserves Policy
The Trustees have set a reserves policy which requires:
a) reserves are maintained at a level which ensures that Nimsdai Foundation core activity could continue during a period of unforeseen difficulty
b) a proportion of reserves are maintained in a readily realisable form.
The calculation of the required level of reserves is an integral part of the Foundations planning, budget and forecast cycle and takes into account:
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risks associated with each stream of income & expenditure varying from the budget
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planned activity level
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organisation’s commitments.
Having considered the risk, activity and commitments of the organisation, Trustees have agreed that the scheme need to retain a level of reserves of at least 3 months running costs.
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NIMSDAI FOUNDATION
REPORT OF THE TRUSTEES (continued)
FOR THE YEAR ENDED 31ST MARCH 2025
FINANCIAL REVIEW continued
Pay and remuneration of key management
When determining the salaries for key management posts, Trustees collect information about comparable roles in other organisations, preferably within the voluntary sector. This information is used to benchmark the charity’s salaries, normally aiming to set them at a level that appears to represent the market average. Advice is also sought from colleagues within other organisations which employ people in similar roles.
All salaries are reviewed annually. In reviewing the charity’s remuneration policy, and annual increments, the Trustees will similar roles. All salaries are reviewed annually. In reviewing the charity’s remuneration policy, and annual increments, the Trustees will consider available advice and best practice, including, but not limited to the NCVO’s guidance on “Setting and Communicating Remuneration Policies".
Risk Management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
A risk register is in place, updated as monthly and is visible to all Trustees. In addition any changes in the risk profile, control performance or events and the associated actions are reviewed at each Board Meeting.
The Trustees have assessed the major risks to which the charity is exposed and satisfied that we remain compliant, recognise that areas of improvement are required.
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NIMSDAI FOUNDATION
REPORT OF THE TRUSTEES (continued)
FOR THE PERIOD ENDED 31ST MARCH 2025
ACHIEVEMENTS AND PERFORMANCE
Executive Directors Statement
As I reflect on an extraordinary year for the Nimsdai Foundation, I am filled with gratitude and pride for the impact we have collectively achieved. I have been inspired by our donors, volunteers and beneficiaries and the relentless energy, passion, and commitment that defines our work. This has been a year of resilience, growth, and unwavering dedication to our mission.
We continue to remain focused on supporting people and projects that allows us to deliver on our Purpose & Mission statements, and are aligned with our values.
This year, despite global economic challenges affecting charitable funding, we have made significant strides across all our core pillars:
Education: We have provided opportunities and access to educational programmes and scholarships which we believe has a demonstrable improvement in the lives of those young people and their families.
Environment: Through collective action and partnerships we continue to push the climate agenda and seek ways to make a physical difference.
Inspiring Others: Through projects we are leading to sponsoring others, we have expanded our reach, ensuring that more people benefit from our initiatives. From grassroots efforts to large-scale projects, our impact continues to grow, fuelled by the generosity and shared vision of our supporters.
Disaster Response: In the wake of the devastating floods, we acted swiftly to deliver aid and essential relief to those that needed it the most. Laying the groundwork for rebuilding schools and homes in affected communities.
These achievements are a testament to the dedication of our team, partners, donors and volunteers.
As we look ahead, we do so with a renewed commitment to scaling our impact and pushing boundaries. The challenges we face are real, but so is our determination to overcome them.
Thank you for being part of this journey. Together, we climb higher, reaching new summits of change and hope.
Signed
Glen Mallen
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NIMSDAI FOUNDATION
REPORT OF THE INDEPENDENT EXAMINER
FOR THE PERIOD ENDED 31ST MARCH 2025
I report to the trustees on my examination of the accounts of Nimsdai Foundation for the year ended 31st March 2025.
Responsibilities and basis of report
As the trustees of the Foundation you are responsible for the preparation of the accounts in accordance with the requirements of
I report in respect of my examination of the Charities accounts carried out under section 145 of the 2011 Act and in carrying out
my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.
Basis of independent examiner's statement
My examination was carried out in accordance with General Directions given by the Charity Commissioners. 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 in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination
- 1) accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
2) the accounts do not accord with those records; or
- 3) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the
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.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Name: Brett Keel
Date:
Address: Richard Allen & Associates (Accountants), 21 Church Road, Parkstone, Poole, Dorset BH14 8UF
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NIMSDAI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31ST MARCH 2025
Charity status
The charity is limited by guarantee, incorporated in, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.
Accounting policies
Summary of significant accounting policies and key accounting estimates the principal accounting policies applied in the preparation of these financial statements are set out below.
These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charites 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) (effective 1 January 2015) - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
The Nimsdai Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations represent donated funds from individuals and corporates.
Grants receivable
Grants are accounted for when received.
Other trading activities
Trading income is from the sale of goods, including owls.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
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NIMSDAI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31ST MARCH 2025 continued
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part I1 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Stock
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terns of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Comparatives
This period covers from 1st April 2023 to 31st March 2024.
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Company No.13095747 Charity No. 1198560
NIMSDAI FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE PERIOD ENDED 31ST MARCH 2025
| Income Grants received Donations/fundraising Events Legacies Investment Other income Total income Expenditure Direct charitable expenditure Donations paid Salary costs Pension costs (ER) Employers NI Redundancy & recruitment Operational phone costs Staff training Staff travel & expenses Governance costs Rent, rates & Property costs IT & communication costs Office costs Marketing & advertising Fundraising & event costs Depreciation Other asset movement Bank fees Independent Examiner Fees Consultant fee Legal and professional fees Insurance Memberships Website hosting Interest Expense Total expenditure Net income for the year Balance brought forward at 1st April 2024 Opening balance adjustment Balance carried forward at 31st March 2025 |
Unrestricted Funds 2025 £ - 214,840 13,967 - - 7,539 |
Restricted Total Funds Funds 2025 2025 £ £ - - - 214,840 - 13,967 - - - - - 7,539 - 236,346 174,137 - 60,000 - 1,321 - 7,025 - - - - - - - 1,482 - 243,965 - - - 297 - - - 4,317 - 2,618 - - - - - 12 - 1,500 - 14,721 - 5,560 - 452 - 60 - - - - - 29,537 - (273,502) - (37,156) 16,621 212,656 (6,149) 10,472 175,500 |
Restricted Total Funds Funds 2025 2025 £ £ - - - 214,840 - 13,967 - - - - - 7,539 - 236,346 174,137 - 60,000 - 1,321 - 7,025 - - - - - - - 1,482 - 243,965 - - - 297 - - - 4,317 - 2,618 - - - - - 12 - 1,500 - 14,721 - 5,560 - 452 - 60 - - - - - 29,537 - (273,502) - (37,156) 16,621 212,656 (6,149) 10,472 175,500 |
Unrestricted Funds 2024 £ - 159,365 - - - 5,403 164,768 4,934 34,762 661 4,065 - - - 856 45,278 - 115 - 1,104 - - 7 600 12,500 3,144 441 100 936 28 18,975 (64,253) 100,515 95,520 196,035 |
Restricted Total Funds Funds 2024 2024 £ £ - - 5,708 165,073 - - - - - - - 5,403 5,708 170,476 42,075 47,009 - 34,762 - 661 - 4,065 - - - - - - - 856 42,075 87,353 - - - 115 - - - 1,104 - - - - - - - 7 - 600 - 12,500 - 3,144 - 441 - 100 - 936 - 28 - 18,975 (42,075) (106,328) (36,367) 64,148 52,988 148,508 16,621 212,656 |
Total Funds |
||
|---|---|---|---|---|---|---|---|---|
| 236,346 174,137 60,000 1,321 7,025 - - - 1,482 |
- - - - - - - - |
|||||||
| 243,965 - 297 - 4,317 2,618 - - 12 1,500 14,721 5,560 452 60 - - 29,537 (273,502) (37,156) 196,035 6,149 165,028 |
- - - - - - - - - - - - - - - - - - - 16,621 (6,149) 10,472 |
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NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31ST MARCH 2025
6 Debtors 2025 Due within one year: £ Accounts receivable - - Prepayments - 7 Creditors: amounts falling due within one year 2025 Due within one year: £ Creditors Control account - Accruals 1,080 PAYE payable 5,410 Pension control account 158 Other Creditor 3,210 9,858
- 9 Analysis of charitable funds
| Opening | |||||||
|---|---|---|---|---|---|---|---|
| Balance | balance | Expendit | |||||
| Analysis | of funds movement | b/fwd | adjustment | Income | ure | Funds c/fwd | |
| £ | £ | £ | £ | ||||
| a) | Unrestricted funds | 196,035 | 6,149 | 236,346 | (273,502) | # | 165,028 |
| b) | Restricted funds by function | 16,621 | (6,149) | - | - | # | 10,472 |
| Total | 212,656 | - | 236,346 | (273,502) | 175,500 |
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NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31ST MARCH 2025
- 15 Staff costs - salaries, social security costs, employer’s contribution to pension, also any redundancy payments.
| Salaries & Wages PAYE & NI (ER) Pension Costs (ER) |
2025 £ 60,000 7,025 1,321 68,346 |
|---|---|
No employees who received total employee benefits (excluding employer pension costs) of more than £60,000
16 Staff Numbers
2025 2024 Number Number FTE average number of staff for year 1 1
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Company No. 07295751 Charity No. 1144661
NIMSDAI FOUNDATION
BALANCE SHEET
AS AT 31st March 2025
| Notes Debtors Cash and bank balance Net current assets Net assets Capital Funds Unrestricted Funds Restricted Funds Total funds Creditors: amounts falling due within one year |
2025 £ £ - 185,358 185,358 9,858 175,500 175,500 165,028 10,472 175,500 |
2024 £ £ - 220,114 220,114 7,458 212,656 212,656 196,035 16,621 212,656 |
|---|---|---|
For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.
Suchi Purja - Trustee
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