2024-12-31-accounts

Company registration number: CE030575 Charity registration number: 1200879

Vahinsa Foundation

(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2024

Vahinsa Foundation

Contents

Reference and Administrative Details	1
Trustees' Report	2 to 3
Independent Examiner's Report	4 to 5
Statement of Financial Activities	6
Balance Sheet	7
Statement of Cash Flows	8
Notes to the Financial Statements	9 to 16

Vahinsa Foundation

Reference and Administrative Details

Charity Registration Number 1200879 Company Registration Number CE030575 The charity is incorporated in Wales. Registered Office 16A, Eley Road London N18 3BB Independent Examiner Kajaine Kafton LLP 42-46 Station Road Edgware Middlesex HA8 7AB

Page 1

Vahinsa Foundation

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2024.

Objectives and activities

Public benefit

The following objects of the charitable incorporated objective (CIO) are for the public benefit:

The relief of those in need by reason of youth, age, ill health, disability, financial hardship, homelessness or other social or economic disadvantage by the provision of premises in which vegetarian or vegan food may be served and other activities carried out to help those who may be lonely or isolated, distressed, or otherwise in need of assistance.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Trustees: Mr Phatahchand Ghanshamdas Mulchandani Mr Harish Vithlani Mrs Nikkita Mulchandani Morgan Mr Rajeev Phatahchand Mulchandani Mrs Nirmala L Mulchandani

Structure, governance and management

Financial instruments

Objectives and policies

The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Page 2

Vahinsa Foundation

Trustees' Report

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance.

Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

Statement of Trustees' Responsibilities

The trustees (who are also the directors of Vahinsa Foundation for the purposes of company law) are responsible for preparing the trustees' report and 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:

• select suitable accounting policies and apply them consistently;

• observe the methods and principles in the Charities 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; and

• 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.

The annual report was approved by the trustees of the charity on 23 September 2025 and signed on its behalf by:

.........................................

Mr Phatahchand Ghanshamdas Mulchandani Chairman and Trustee

Page 3

Vahinsa Foundation

Independent Examiner's Report to the trustees of Vahinsa Foundation ("the Company")

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet and related notes are set out on pages 5-15.

This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. 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 this 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, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of Vahinsa Foundation are not required to be audited under Part 16 of the 2006 Act 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 Vahinsa Foundation as required by section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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.

...................................... Pankaj Shah ACA Kajaine Kafton LLP 42-46 Station Road Edgware Middlesex HA8 7AB

Page 4

Vahinsa Foundation

Independent Examiner's Report to the trustees of Vahinsa Foundation ("the Company")

23 September 2025

Page 5

Vahinsa Foundation

Statement of Financial Activities for the Year Ended 31 December 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

		Unrestricted		Total
		funds		2024
	Note	£		£
Income and Endowments from:
Donations and legacies	3	2,000		2,000
Investment income	4	39,318		39,318
Total income		41,318		41,318
Expenditure on:
Raising funds		(3,957)		(3,957)
Charitable activities	5	(2,054)		(2,054)
Total expenditure		(6,011)		(6,011)
Net income		35,307		35,307
Net movement in funds		35,307		35,307
Reconciliation of funds
Total funds brought forward		682,373		682,373
Total funds carried forward	10	717,680		717,680
		Unrestricted		Total
		funds		2023
	Note	£		£
Income and Endowments from:
Donations and legacies	3	750,200		750,200
Investment income	4	2,913		2,913
Total income		753,113		753,113
Expenditure on:
Raising funds		(70,680)		(70,680)
Charitable activities	5	(60)		(60)
Total expenditure		(70,740)		(70,740)
Net income		682,373		682,373
Net movement in funds		682,373		682,373
Reconciliation of funds
Total funds carried forward	10	682,373		682,373

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 10.

The notes on pages 9 to 16 form an integral part of these financial statements. Page 6

Vahinsa Foundation

(Registration number: CE030575) Balance Sheet as at 31 December 2024

		2024		2023
	Note	£		£
Current assets
Debtors	8	2,913		2,913
Cash at bank and in hand	9	714,767		679,460
		717,680		682,373
Funds of the charity:
Unrestricted income funds
Unrestricted funds		717,680		682,373
Total funds	10	717,680		682,373

For the financial year ending 31 December 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and

• The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The financial statements on pages 6 to 16 were approved by the trustees, and authorised for issue on 23 September 2025 and signed on their behalf by:

.........................................

Mr Phatahchand Ghanshamdas Mulchandani Chairman and Trustee

The notes on pages 9 to 16 form an integral part of these financial statements. Page 7

Vahinsa Foundation

Statement of Cash Flows for the Year Ended 31 December 2024

		2024		2023
	Note	£		£
Cash flows from operating activities
Net cash income		35,307		682,373
Adjustments to cash flows from non-cash items
Investment income	4	(39,318)		(2,913)
Loss on disposal of fixed assets held for the charity's own use	6	-		54,000
		(4,011)		733,460
Working capital adjustments
Increase in debtors	8	-		(2,913)
Net cash flows from operating activities		(4,011)		730,547
Cash flows from investing activities
Interest receivable and similar income	4	39,318		2,913
Purchase of tangible fixed assets		-		(750,000)
Sale of tangible fixed assets		-		696,000
Net cash flows from investing activities		39,318		(51,087)
Net increase in cash and cash equivalents		35,307		679,460
Cash and cash equivalents at 1 January		679,460		-
Cash and cash equivalents at 31 December		714,767		679,460

All of the cash flows are derived from continuing operations during the above two periods.

The notes on pages 9 to 16 form an integral part of these financial statements. Page 8

Vahinsa Foundation

Notes to the Financial Statements for the Year Ended 31 December 2024

1 Charity status

The charity is limited by guarantee, incorporated in Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation.

The address of its registered office is: 16A, Eley Road London N18 3BB

These financial statements were authorised for issue by the trustees on 23 September 2025.

2 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 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 (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Vahinsa 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.

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 are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Page 9

Vahinsa Foundation

Notes to the Financial Statements for the Year Ended 31 December 2024

Investment income

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

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.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.

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 11 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.

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 terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 10

Vahinsa Foundation

Notes to the Financial Statements for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Foreign exchange

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.

The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).

Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for:

1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above);

2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and

3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.

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.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Page 11

Vahinsa Foundation

Notes to the Financial Statements for the Year Ended 31 December 2024

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 12

Vahinsa Foundation

Notes to the Financial Statements for the Year Ended 31 December 2024

Debt instruments

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

Page 13

Vahinsa Foundation

Notes to the Financial Statements for the Year Ended 31 December 2024

Derivative financial instruments

The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

3 Income from donations and legacies

		Unrestricted
		funds		Total
		General		funds
		£		£
Donations and legacies;
	Donations from individuals	2,000		2,000
Total for period ended 31 December 2024		2,000		2,000
Total for period ended 31 December 2023		750,200		750,200
4	Investment income
		Unrestricted
		funds		Total
		General		funds
		£		£
Interest receivable and similar income;
	Interest receivable on bank deposits	39,318		39,318
Total for period ended 31 December 2024		39,318		39,318
Total for period ended 31 December 2023		2,913		2,913

Page 14

Vahinsa Foundation

Notes to the Financial Statements for the Year Ended 31 December 2024

5 Expenditure on charitable activities

			Unrestricted
			funds		Total
			General		funds
		Note	£		£
Governance costs			2,054		2,054
Total for period ended 31 December 2023			60		60
6	Net incoming/outgoing resources
Net incoming resources for the year include:
			2024		2023
			£		£
Loss on disposal of fixed assets held for the charity's own use			-		54,000

7 Taxation

The charity is a registered charity and is therefore exempt from taxation.

8 Debtors

8	Debtors
		2024		2023
		£		£
Accrued income		2,913		2,913
9	Cash and cash equivalents
		2024		2023
		£		£
Cash at bank		714,767		4,460
Short-term deposits		-		675,000
		714,767		679,460

Page 15

Vahinsa Foundation

Notes to the Financial Statements for the Year Ended 31 December 2024

10 Funds

10 Funds
													Balance at 31
	Balance at 1			Incoming				Resources					December
	January 2024			resources				expended					2024
	£			£				£					£
Unrestricted funds
General	682,373			41,318				(6,011)					717,680
													Balance at 31
				Incoming				Resources					December
				resources				expended					2023
				£				£					£
Unrestricted funds
General				753,113				(70,740)					682,373
11 Analysis of net assets between funds
								Unrestricted					Total funds at
								funds					31 December
								General					2024
								£					£
Current assets								717,680					717,680
								Unrestricted					Total funds at
								funds					31 December
								General					2023
								£					£
Current assets								682,373					682,373
12 Analysis of net funds
													At 31
				At 1 January				Financing cash					December
				2024				flows					2024
				£				£					£
Cash at bank and in hand				679,460				(679,460)					-
Net debt				679,460				(679,460)					-
													At 31
								At 2 November					December
								2022					2023
								£					£
Net debt									-				-

Page 16

Vahinsa Foundation

Statement of Financial Activities by fund for the Year Ended 31 December 2024

Unrestricted Funds

Unrestricted Funds
	Total		Total
	Unrestricted		Unrestricted
	Funds		Funds
	2024		2023
	£		£
Income and Endowments from:
Donations and legacies	2,000		750,200
Investment income	39,318		2,913
Total income	41,318		753,113
Expenditure on:
Raising funds	(3,957)		(70,680)
Charitable activities	(2,054)		(60)
Total expenditure	(6,011)		(70,740)
Net income	35,307		682,373
Net movement in funds	35,307		682,373
Reconciliation of funds
Total funds brought forward	682,373		-
Total funds carried forward	717,680		682,373

This page does not form part of the statutory financial statements. Page 17