## **TRUSTEES REPORT** The Trustees who served in 2024 are Philip Jefferies (Chairman) Arvind Kerai and Michelle Tchoukov. ## **Charity Objectives** The objectives of the charity are to advance, transmit, spread and propagate the religion of Krishna Consciousness as revealed in the teachings of Bhagavad Gita As It Is and Srimad Bhagavatam as taught by the Founder - Acarya A.C. Bhaktivedanta Swami Prabhupada and in accordance with the tenets of the International Society for Krishna Consciousness. Atma Lounge is guided by the seven purposes that our Founder-Acarya, His Divine Grace A.C. Bhaktivedanta Swami Prabhupada, established when ISKCON was inaugurated. These purposes stand as our objectives for the charity. The seven purposes of ISKCON are as follows: 1. To systematically propagate spiritual knowledge to society at large and to educate all people in the techniques of spiritual life in order to check the imbalance of values in life and to achieve real unity and peace in the world. 2. To propagate a consciousness of Krishna (God), as it is revealed in the great scriptures of India, Bhagavad Gita and Srimad-Bhagavatam. 3. To bring the members of the Society together with each other and nearer to Krishna, the prime entity, thus developing the idea within the members, and humanity at large, that each soul is part and parcel of the quality of Godhead (Krishna). 4. To teach and encourage the sankirtana movement, congregational chanting of the holy name of God, as revealed in the teachings of Lord Sri Caitanya Mahaprabhu. 5. To erect for the members and for society at large a holy place of transcendental pastimes dedicated to the personality of Krishna. 6. To bring the members closer together for the purpose of teaching a simpler, more natural way of life. 7. With a view towards achieving the aforementioned purposes, to publish and distribute periodicals, magazines, books and other writings. In order to achieve the above objectives we use the following strategies: - Publication and distribution of literature - Promotion through other media - Public services, festivals, retreats and pilgrimages – which promote spiritual culture - Kirtan (congregational chanting of the names of the Supreme Being) - The distribution and promotion of sanctified vegetarian food (prasadam) - Education in doctrines, training in religious practice: pastoral care - Encouraging positive life principles and social engagement through volunteering - The opening of new centres / sangas (spiritual gatherings) and Youth outreach - Fundraising Activities ## **Recruitment and Appointment of Trustees** The power to appoint new trustees is vested in the members of the charity. In considering the recruitment of a new trustee the members would look to individuals with experience, empathy and knowledge of the charity’s work ## **Fundraising in 2024** The Trustees are aware of their responsibility and accountability to ensure the charity fundraises legally, responsibly and effectively. We do not use professional fundraisers or commercial agencies to fundraise and rely on volunteers. We are very grateful to the support of volunteers who participate by helping with cooking, classes, book distribution, organising festivals and dramas, supporting our educational events. We thank all our volunteers for their time, expertise and commitment which helps us raise awareness of the charity and maintain high standards of service ## **2024 Goal (Update)** • **Book Tables :** To have monthly book tables throughout the year to distribute literature to propagate spiritual knowledge about Krishna as revealed in the great literatures of India such as the Bhagavad Gita and Srimad Bhagavatam- **This was achieved** ## **2025 Goal** - **Property Investment :** To purchase a property which would be used as a preaching centre and place where devotees can live together. It would also be a sanctuary for visiting guests and devotees. This would provide facilities to help cultivate and introduce people to the vedic way of life, philosophy, culture and practices. ttgi51rn1ion nurnber.. CE031043 Tryubation nwnber. 1201448 ATMA Lounge {A Unit IA Kent 19 SEY S to.14 ATMA Lounge Reference and AdministrAtive D¢tsi Ch#5rn18 Mr P A Jefferies Trnstee5 M Tthothiy MrAVKerni Ir P A Jefferies Charity Registratlo• Number 1201448 Comp#Try Rtg15tr•tlon Number CE0311M3 The tharity 15 incortrfmaied in Eng]and aNI Wales. 54 & 54A The Old Hlgh Sty Folkemone R¢￿ered oifice cr20 IRN Inde￿ndent Emmioer Cannon and Company Accountsnts Limited Unli IA Park Fann Road Park Farm Industrial E5tste FoFkesiorte Kent CT19 SEY Page I ATMA Lounge Independent Eiaminerfs Report to the tnultes of ATMA knunge ('tbe Company? I rep)rt lo the rbarity Inutees on rny examin*TOn of thE accounts (trf the CornFwy r(ff the yetr ended 31 Decernber 2024. Respon51bllltlc5 of report As the charity'5 tru5ttts of the Company (and also its direciors for the PU￿•Se5 of company law) you are rtsFM)nsible for the pIrP￿¥170n of the xrounts in XC0rd￿ the requirements of the Companies Act 21 ('the 2(YJ6 Act,). Having satisfied myself that the accounts of the Cornp￿ art required to be audi￿ under Pan 16 of the 2006 Aci ond art eltgkble for inde￿ndent examinaiion. I [C￿rt in Tespe¢t ofmy examination of your charity's attounts as carried out under seciion 145 of the Charities Ad 2011 ('the 2011 Act'}. In carrying oyi my examinaiion I hawe followed the Dirtction5 given by Charity Commission wider S￿l0n 145(5Xb) of 2011 Aci. IndeptAdeAt eXallllAer's stAtement I have complded my exarnination. I confinn th* no mauer5 h•br cojne ￿ my attention in connection with the examinaiion 8ivin8 me Ca￿ io l*lieve: l. xcounting record5 *%re ift fespxt of ATMA Lwe as ¥e¢4uired by s¢¢tion 386 of the 2fJ)6 ACL 3. the accounts do compty wilh the attountin8 rtwiremats of sefflion 396 of the 21XJ6 Aa other than y requirement thai the accounts give a'uue and fair vieW which 15 nol • m*t¢r considered a5 pall of #n independeni examin*iry 4. the accounts ￿ve ¥￿t been ID xcrydantt the methods and winciples of the Swternent of Recomm￿ Prxtice for accounting reporting by dwitses [3pplicable to dwitKes prepann8 iheir counts in accord￿ the Financial Rep)rtin8 StsrNl¥d applicable in the UK and Republic of trtland (FRS 102)]. I have no wncerns and have come across no other m8llu5 in conneaion with the examination to which •ttcntion should be drawn in this Tewyn in i)rder to enable a pnytr undttthdin8 Dfthe accounts to be reache Unli IA Pak Farm Road Park Farn Industrial E¥* Folkestone Kertt CT19 SEY 14 Octh 202S ATMA ￿uDge Ststement of FinaneiAI Attivitics for the Year Ended 31 December 2024 ncluding Income and Expenditure Account and Statement of Totsl Recognised Gains and Losse5) U*restrieted funds Total 2024 Note Incorn¢ ¥nd Endowments from". Donaiion5 and lega¢i¢5 Other Irdding attivitie5 187.79) 62.134 187.790 62.134 Tottl income 249.924 249.924 Expenditure on: Raising fvnds Charithble aclivtiies (41.914) (42.349) (41.914) 42.349) Toral expendilure (842631 (84.263) Nei income 165,661 165.661 Net mov¢m¢nt in fund5 165.661 165,661 Re￿nCili￿¢10n or rvnds Totsl fimds bTDughi fon¥ard 74.188 74.188 Totsl fimds carrhed fonwd 16 239.849 Unreslricied funds 239.849 Totsl 2023 No¢t Ineome and Endowments frnm: Donations and lesacits 75,133 75.133 Total income 75,133 75.133 ExpEuditstt 011: Raising fvnds {945) (945) Total eXpendi￿re (945) (945) Net income 74.188 74.188 Nei movemen¢ in fund5 74.188 74.188 Reconciliation of funds Totsl fvrtds carried fon*ard 16 74.188 74.188 All of the chariry's a￿1Vill¢S deriye from coniinuing O￿lon5 during the above two WILNI The fijnds bTeakdown for 2023 is sl￿W￿ in 16. The notes on page5 5 to 14 forni an integral part of ihe5e financial slatements. Page 3 ATMA LouDge Ol¢gi8tratlon number: CE031043) Bal￿¢¢ Sheet ￿ at 31 l>eeember 2024 Not¢ C•rr¢&t *s%ets Sto¢L8 Debtors 12 13 14 36J24 3291 203.031 75.088 241646 75.088 Credl¢on: f•UIDi d•t wlthl• ont yt*r 15 900 239.849 74.188 Funds ofthe charity: UllreJ¢rkted Iw•Ae lkn*ds 239.849 74.188 Totsl fM4ds 16 239.849 74.188 2025 and sigrd on ther behalf by.. Mr PAJefftrits The n(rt¢s ith pages 5 to 14 forni •n intewl pan ofthese financial ststan¢nts. ATMA Lounge Note5 to the FinaD¢i*I Statements for the Year Ended 31 December 2024 I Ch*rity St•tss The charity is limikd by 8uafdniee. irKory)oNed in England and Wale5. and consequenily does not have Share capitsl. Each of the trustees 15 liable ￿ contribu* an amouM exceeding £Nil tow¥rd5 the assets of the charity in the eveni of liquidation. The addre55 of its regisle￿I office is: 54 & 54A The Old Strt Folkestone Keni CT20 IRN These fLnaDci•I staternents were authori￿ for issue by the trus*¢s ON 14 OaobeT 2025. 2 pli¢ies Sllmwsry of $i￿1r￿ant KVMIRtiAg policle5 •qd key *C¢O•JA¢iThg e5tiuNt¢5 The princitd aCCOLmiing ￿11¢]¢5 applied in the preparnion of these fina￿1•1 5tstern￿ •ff out below. These policies ha￿ been Cr￿19¢0￿y applied to all the )raTh unlw otherwise ststrd. Ststem¢Trt of eompll•Aet The f￿￿nCial swemeftts have been in accord￿ with Accouniing and R￿ing by Charittes.. Statement of Recom￿ Prdctice (8pplicable to dwities preparing their accounts accord￿ with the Financial R¢￿ting Swidard applicable in the UK and Republic of Ireland (FRS 102)) (i5St¢d ÉD Octolxr 2019) - (Chariiies SORP (FRS 102)). the Financial iiewlifvg Stsndard applicable in the UK and Republic of Ireland (FRS 102) and the C(unP3n1￿ Aa 2006. B•sis of prtP•TAtio ATMA Lounge meets th¢ definiiion of a publTrc beDefii entiry under FRS 102. A55eis and liabiliiie5 are iniiially reco8ni%ed ai hisLorical cosi or transa￿10￿ value unless othen¥ise sthied in the relevant ac¢otsntln8 policy notes. Going ¢oo¢ern The U￿slee$ ￿N￿lder thai thue are no material UDcertainties about the Charity￿ •bility io coniinue as a 8oin8 concern nor any 5ignificani artas of uncenainty thai affea ihe carrying Value ofassets held by the Ch￿ty. Ineome 4Trd ¢odowrnats All income is reco8ni5ed once the charity has eniiilemeni th the income. li is pmblble that the income will be received 4nd the amourtt of the income Teceivable be Measu￿ reliably. ATMA iAbunge Notes to the Finanei41 Sl*temeDts for tbe Ye4r Ended 31 Dttember 2024 Donarfons andleK4des Donations are recognised when the rh8rity ha5 bttn n￿lfIed in WTitin8 of both the anwnt and settlement dale. In the eveni that a donation is subje¢t io conditions thal r¢quire a level of perfomwice by the chartty before the charity is entiiled to the fvnds, Ihe income is deferred aryj not reCo￿lsed until either those conditions are fvlty mei or the fvifilment of those rondilions is wholly within the control of the charity and kf 15 probable that these conditions wkll be fijifilled in ihe reporting period. Legacy gifis are recognised on • case by case basis following the yanl of probate when the admini5tratorlexecutor for the estaie has cornmunicated in writing both the amount and settle4n¢ni dat¢. In the event that ihe gift is in the fomi of an ￿$t1 other than cash or • fiNncial asset traded on a recognised $￿tk exthange, rEcognition 15 subjed io the value of the gift being reliably n￿aSurable with a de8rtt of reasonable accuracy and the iitk io the assd having b¢¢n ¢ransfeTh¢d ￿ th¢ thjrity. ExptAdltur¢ All expendinwe is recwised ortce there is i legal or Constructive obligation to that expeThliwre, li is probknle settlelnent is required and the amouni can i¢ meastsred Feliably. All costs are allocaled to the wpplitable expendilure headin8 that aggregate Similar costs io that cai¢gory. Where costs cannot be directly attribu*d to p3rticul8r headings ihey have bttn •llo¢aied on a b3sis Consi￿¢￿1 with the use of Tesources, with central costs allocated on the bJ5is of time spenl and dePT￿l￿10n thar¥es all0￿¢d on the w>rtion of the asset's use. Other suP￿rt costs are allocated based on the s￿ead ofsraff costs. Raisinzfvnd5 tradin8 activities rdise f*md Support cojts Support costs include central funciions and have been allocaied ¢0 acriviry COA carey￿¢5 on a basis consi#eiii with the use of resourn. fvr eXa￿pIe, alktating wperty costs by (knr are4 or per Capi￿ stsff cosrs by the titr* spent and other costs by their usa8L Covernlntt eojts These Inc1￿￿e the costs attrilyutsble w the chafity's ￿n￿lianCe with Con￿llUll0￿al and siatuiory reqiiiremen including audiL strategic management and tru￿rts mtttings arLd reimbursed exper￿S. T¥￿(10￿ The ¢lJarity is ￿nsider￿ the trsts sei in Paragraph I Schedule 6 of the Finance Aci 2010 and therefore it meets the definition of a clthritable eornpany for UK corFK)fdtiixi i&x purposes. A¢eordingly. the ¢h¥ity is poteniialty exempt from twiion in respect of income or capiwl g)ins received within ategortes eovered by Chapier 3 Part I l of the COr￿10Th Tax Act 2010 or Seciitsn 256 of tht Taxation of Chargeable Gains kn 1992. iothe extrnt tha such income orga1￿ aTe applied exclusively to ¢hariwble pwpose5. Stock Stork is valued ￿ the lower of c051 •nd estimaied stlling price less Costs io complete and selL after due regard for obsolrfe and slow MOVI￿ stocks. C05t is d¢temiined usiti8 ihe fiN-in, first•OW (FIFO). P•ge 6 ATMA Lothnge Iyotes to the Finallci￿ Statements for (he Year Ended 31 Deeember 2024 Tr￿¢ deblorg COU￿ of busines& Trnde debior5 4r¢ wised iniiially at the tranSX￿ price. 7ky are subsequently measured ￿ amortised cost using the effedive interest meihod. less provision for impairnwii. A provision for the impairnient of trade del￿rS is established when th¢re 1$ objedive evidence that the charity will be able io collea all amounts due according to the original tertll5 ofthe ffteivable5. C*$h #Dd usb equiv*lents C&8h and cash equivalents colTrp￿ on hand and L711 ttyits. and other short4em? highly liqvid investments thai arr readily ¢on¥¢rtibk to a kno￿ amount of rash and ￿ subjed ￿ an irt¥ignificani risk or change in value. Trnde ereditors Trade credtiors are obligaiions lo Fwj for golhts (Y services th* have been Wuiffd in the ordinary course of business from Supplie￿ AccouN5 payable are classified as liabilitie5 if the cl)arity does not have uncondiiional righ4 ¥ the end of the reponin8 period w defer 5ettlernent of the ¢reditor for at lea￿ n¥elve months after the reporting date. If there is an uncondiiional right ￿ defer settlement for ￿ leaM Th¥elve mon allerthe reporting dx they arr pre5enttd a5 liabilitie Tra& Crediiors att reco8nised initially at the subs¢wtly measwtd * amortised c05t using the effective rneth Intrrert-bearing b0￿Ing5 are iniiially rtcorded * fair value. nei of transadion costs. Interest-t¢aring borrowings ¥t subwuenily ￿￿1¢d ai amorti5ed cosl with the difference the proceed5, net of transacrion Co5￿ ard the amouni due on redemption beirtg reco￿l$ed as a chw to the Swemertt of Fitwicial AcÈivithts overthe olthe relevant borrowing. InRrest expense 15 VttO8nised on the b￿15 of the effedive intr1e￿ method and is intluded in inter￿1 ￿y•b similar chary Borrowings classified as currerti liabilities unless the Charity has an unconditional rithi io deftr settlemem of the liability for & Ieast Nelve m(fflths after the repffling d￿e. Fulld strnet• the objectives of the charity. ClosslJlc4llon Financial a55¢ts and finaKial liJbilitiCs are reco8nised when charity Ixcrn a party to the contracrull provisions of the insrrument. Financial liabiliiies and equity insmiments are etwified xcordin8 to the Jubstance of the wntrjctual arrnigements enterd inlo. An equity insrrumert is any ¢ontr4d th•t evidences a Tesidual ID th¢ ￿ets of the charity after deduding all of its liabilities. PJ8e 7 ATMA Lounge Notes to the Financial StAtem¢nts for tbe Year Ended 31 December 2024 RecoKnlrft>ft aftdmeds•rrnirnl All financial A5*ts and liabiliiie5 are initially rnusyred * tranS￿l0n price (irtcluding transaction e05ts), except for ihose financial &85ets cI￿lfied Ls at fair walue through profit or loss. which we inili3lly measured at fair walue (which is nornially the transattion price excluding trnnsaciion costs). unless the arransement constiDJtes • fmancing Iransadion. If an werneni constityte5 4 fuwicing transaction, the fuwici21 355et or financial liability is MeasU￿d ai the presem ￿l￿t of the fu￿re payments discounied at # market rate of inlerest for a simhiar debi instrument. Financial assets and liabilittes are only offset in the ststement of financial ￿$1110n wh¢n. and only when there exists a legally enforceable ri8hi lo set off the recosnised amounts and the ch&ity iniends either to Settle on net basis or io mlisc thE &%Sd Ind Settle the liability Simultaneo￿ty. FIn￿CIal assets are dereco8nised whth and (￿lY kn a) the rontrx￿I 17ghts io the cash flows from the rmancial expire or are sellled. b} the charity tran5fer5 to anothtt p¥ty substhniially all of the risks and rtwards of ownership of the fina￿1•1 ass¢L or c) the charity. despiie having relained some, but not JIL Si8nifKanl risks and rewards of ownttthip, ho5 nnsfelled control of the a55d to 8nother party. Fir￿￿111 liabilities we deretognis¢d onty the obli8ation specifKd in the coD¢rn¢t is dTscharged. cancelled or expire5. ATMA Lounge Notes to th¢ FiDancial Statements for the Yur Ended 31 Dettmbtr 2024 De￿InsI￿111thts tkbt Insin￿ whith the followin8 coNlilions *e the4￿tty fflea5￿ at amortised cost using the effeaive interest mtdwd: (a) The contract￿1 Jettwn to tht holder is (i) • fixed Amou￿. {ii) a posilive fLxed r* or a positive variable rate: or (iii) a ¢ombitiaiion of a p)sitive orA negaiive rued rJt¢ and a w>sitive variable ra¢e. Ib) The contract PTovide for Tepayllmits of the PTiocipal Of the ￿ io the holder fv not both) to be linked io a single relevant observable index of general wict intlation of currency in which the d¢ Insm￿¢nI is denominated, provided such links are noi leveraged. (c) The contract may provide for a dderniin&ble vari*ion of the reftinj io th¢ holts during the life of th¢ instrumenl Provided (i) the new Tale ￿l$fieS condiiion (a) and thE variation is contingent on futthre events other than (l) a change of a contracnMI variable rate. (2) io pr0￿ct the holder a8ainM credii dderioration of the issuer. (3) ¢hange5 in levie5 applied by a central Of Jrising from chan8es in relevani ￿allOn or law. or(ii) the new Me is a nwktt rnle of iDteFest and ￿L$r￿S condition {a). (d) There is no t¢ntrncfywl provision that cov14 by its term& rwh in the knlder losin8 the principal arnounl or {e) Contractual provision5 that pernbii the is5wY lo prepay a de￿ instrument or pmii the holder to pu¢ li to the i55uer before manwity are noi coniingeni on fithjre even￿ other than to profect the holder a8ainsi the ¢￿di1 deierioraiion of the issuer or a change in control of the issuer. or lo proM the holder or issuer against changes in levie5 aF¢>lied by a central bank Orarism￿ from chaftges in relevwrt wxation or l•w. (D Contr￿1 provisions may pennit the Cxw￿l0n of the ¢effli of the debr I￿$tru￿￿ Fwvided that the renrn io the t￿lder and any other Contr￿ provisions applicabk durts¥ the extended terni satisfy the conditions of ragrapb (8) to (c). Debt itL%trumtnts that arE cl￿tfied & paydble or Teceiyable within one Jtar on initial recogniiioft and whith th¢ a￿¥¢ wnditions Jre me&surol ai the undiscoyni¢d gmount ofthe cth w other con5iderntion expErted io be paid or re¢ei¥eu¢toiwt re504rtos Nei inujming Tesourtts for the ytar intltyle: 2024 Chwing the year the charity made the following transathons with tnw: Mr P A Jtfferlts Mr P A Jefferies rtc¢i¥ed remw￿￿1tin of£5.720(2023: £Nil) during the >rar. 10 Stsifrosts The a88re8atr payToII c45ts WUE as follows: 2024 Ststfcosts dorinz tht yoar were: w￿e5 and ￿]￿rieS 11,440 The monthty av¢rnge number of p¢r50ns (including senior mana8emeni I lethship teun) unployed by the ¢harity during the >tar exprtssed as fvll lime equivalents was A5 follow3: 2024 No No ernploytt received emolurnents of nmxe than £60.OiKI durin8 the ye•r. P•8e 12 ATMA IAuDge Noles to the Finan¢i*l St*lements for the Year Ended 31 Dtcember 2024 The charity is a ￿gIS￿led chuiry and is therefort ¢X¢W from tWI1￿. 12 Stoek 2024 Siocks 36.324 13 D¢btor5 2024 PrepoyTrents 819 1,568 3291 14 C*sh t•sh equiv•lr•ts 2023 Cash at bank 203.031 75,081 IS Crnlitor5: f•llimt dut wllhSA ooe yur 1024 2023 Trnde Cr￿1[(￿5 (Xher credilOIS Acc￿￿15 1.273 2.797 16 Funth B*l*ntt •t31 ResouTtt5 exptttded JA•u*ry 2024 2024 UnrutTkied General 74,188 187.79) 22.129 ?39.849 e13 ATMA Lounge Notes to the y￿anCIsI Statements for the Year EDd¢d 31 Detember 2024 B*lanet •t 31 Decemlxr 2023 Reso￿T(C5 *xptBd¢d Unrestricted Genernl 75.133 945 74,188 17 Analysis of net *5sets betwetTr funds U4res¢rlcied funds GeneT•I Total fwftds *t 31 Decembtr 2024 Current a55ets Current liabilili¢s 241646 242,646 (2.797) Total asse 239.849 239.849 Unrtstridtd r¥nds Gefj¢r•l Totsl fuDds *1 31 December 21)23 75.088 75.088 Current liabilities Totsl net assets 74.188 74,188 18 An*tysis of net fu4ds At31 De(tmbtr 2024 Ai l Janu*ry 2024 Cash * bank and in h￿￿1 75,088 75.088 Net debi 75.088 75,088 At31 Decemkr 2023 At I J•Rllmry 1023 Net debt 19 Related party tran￿ello￿l Paze 14 ATMA Lounge Statement of Fin*ncial Activitit5 by fund for the Year Ended 31 December 2024 Unrestridtd Funds Tot•1 Unre5trl¢ted URrutrlc(ed Funds Funds 2024 2023 IAcorne *nd Endowments from: Donalion5 and legacies Other trading activities 187.790 62.134 75.133 Total income 249,924 75.133 Espenditurt on: Rai5Lng fi]nds Charittble aciivities {41.914) 42.349) {945) Total exp¢ndilur¢ (84263 Net irKome 165.661 74,188 Nei movement irt fimds 165,661 74.188 Rteoneiliation of Totsl fiubds brought fonvard Toral fijnds cattied fonyard 74.188 239,849 74,188 ThTS page doe5 not forni part of the 51atutory financial ￿atements. Page 15 ATMA Lounge Det*iled StAtement of Financial Activities for the Year Eknded 31 Deeember 2024 Totsl 2023 2024 Intome •nd Endowments from". Donaiion5 and Icgacie5 (an￿l￿d below> Othcr trading aciivities (analysed below) 187.790 62,134 75.133 Toial income 249,924 75.133 Expendilure on". R&LSLng fjJnds (analysed brlow) Charitable a¢tLVjtLes {anal)sed below) (41,914) (42,349) (945) Total expelldiiu Net income 84263 (945) 165.661 74.188 Net movemenl in fwHIs 165.661 74,188 Recon¢iliqlioD of funds Total funds broughi fornwd 74.188 Total funds carried forw7rd 239.849 74.188 This p3ge does I￿1 form part of the Stsiuiory financial siaiements. Page 16 ATMA Lounge Detsiled Statement of Financial Activitie5 for the Year EDded 31 December 2024 Totsl 2024 Total 2023 Donarfons Itgdel Mtfflbef5hip Appea15 and donations Gift Aid thx reclaimed 3.871 183.61)6 313 75.133 187.790 75.133 Sale5 ofpUrCh￿d good5 62.134 62.134 Flwchases Closing Wages and salaTies Volynieer expense5 Accountancy fee5 Lzgal aAd prof￿10￿11 ftes {62244) 36.324 (11,440) (979> (1260} {390) (1.925 {900) (35) (101 (945 41.914 (15,825) .588) (4.021) {1.9?0) {1.102} (1.8?6) (16) (464) (5.102) (377) 9.108) LighL heat and p)w¢r Telephone Prfftiin& p)5ts8e and swtiry CPoriuble don*1( C]eaning Trnvel and sub5iSWK* 142.3491 This page does forni part ofthe finjncial smemerfs. Pa8e 17 ttgi51rn1ion nurnber.. CE031043 Tryubation nwnber. 1201448 ATMA Lounge {A Unit IA Kent 19 SEY S to.14 ATMA Lounge Reference and AdministrAtive D¢tsi Ch#5rn18 Mr P A Jefferies Trnstee5 M Tthothiy MrAVKerni Ir P A Jefferies Charity Registratlo• Number 1201448 Comp#Try Rtg15tr•tlon Number CE0311M3 The tharity 15 incortrfmaied in Eng]and aNI Wales. 54 & 54A The Old Hlgh Sty Folkemone R¢￿ered oifice cr20 IRN Inde￿ndent Emmioer Cannon and Company Accountsnts Limited Unli IA Park Fann Road Park Farm Industrial E5tste FoFkesiorte Kent CT19 SEY Page I ATMA Lounge Independent Eiaminerfs Report to the tnultes of ATMA knunge ('tbe Company? I rep)rt lo the rbarity Inutees on rny examin*TOn of thE accounts (trf the CornFwy r(ff the yetr ended 31 Decernber 2024. Respon51bllltlc5 of report As the charity'5 tru5ttts of the Company (and also its direciors for the PU￿•Se5 of company law) you are rtsFM)nsible for the pIrP￿¥170n of the xrounts in XC0rd￿ the requirements of the Companies Act 21 ('the 2(YJ6 Act,). Having satisfied myself that the accounts of the Cornp￿ art required to be audi￿ under Pan 16 of the 2006 Aci ond art eltgkble for inde￿ndent examinaiion. I [C￿rt in Tespe¢t ofmy examination of your charity's attounts as carried out under seciion 145 of the Charities Ad 2011 ('the 2011 Act'}. In carrying oyi my examinaiion I hawe followed the Dirtction5 given by Charity Commission wider S￿l0n 145(5Xb) of 2011 Aci. IndeptAdeAt eXallllAer's stAtement I have complded my exarnination. I confinn th* no mauer5 h•br cojne ￿ my attention in connection with the examinaiion 8ivin8 me Ca￿ io l*lieve: l. xcounting record5 *%re ift fespxt of ATMA Lwe as ¥e¢4uired by s¢¢tion 386 of the 2fJ)6 ACL 3. the accounts do compty wilh the attountin8 rtwiremats of sefflion 396 of the 21XJ6 Aa other than y requirement thai the accounts give a'uue and fair vieW which 15 nol • m*t¢r considered a5 pall of #n independeni examin*iry 4. the accounts ￿ve ¥￿t been ID xcrydantt the methods and winciples of the Swternent of Recomm￿ Prxtice for accounting reporting by dwitses [3pplicable to dwitKes prepann8 iheir counts in accord￿ the Financial Rep)rtin8 StsrNl¥d applicable in the UK and Republic of trtland (FRS 102)]. I have no wncerns and have come across no other m8llu5 in conneaion with the examination to which •ttcntion should be drawn in this Tewyn in i)rder to enable a pnytr undttthdin8 Dfthe accounts to be reache Unli IA Pak Farm Road Park Farn Industrial E¥* Folkestone Kertt CT19 SEY 14 Octh 202S ATMA ￿uDge Ststement of FinaneiAI Attivitics for the Year Ended 31 December 2024 ncluding Income and Expenditure Account and Statement of Totsl Recognised Gains and Losse5) U*restrieted funds Total 2024 Note Incorn¢ ¥nd Endowments from". Donaiion5 and lega¢i¢5 Other Irdding attivitie5 187.79) 62.134 187.790 62.134 Tottl income 249.924 249.924 Expenditure on: Raising fvnds Charithble aclivtiies (41.914) (42.349) (41.914) 42.349) Toral expendilure (842631 (84.263) Nei income 165,661 165.661 Net mov¢m¢nt in fund5 165.661 165,661 Re￿nCili￿¢10n or rvnds Totsl fimds bTDughi fon¥ard 74.188 74.188 Totsl fimds carrhed fonwd 16 239.849 Unreslricied funds 239.849 Totsl 2023 No¢t Ineome and Endowments frnm: Donations and lesacits 75,133 75.133 Total income 75,133 75.133 ExpEuditstt 011: Raising fvnds {945) (945) Total eXpendi￿re (945) (945) Net income 74.188 74.188 Nei movemen¢ in fund5 74.188 74.188 Reconciliation of funds Totsl fvrtds carried fon*ard 16 74.188 74.188 All of the chariry's a￿1Vill¢S deriye from coniinuing O￿lon5 during the above two WILNI The fijnds bTeakdown for 2023 is sl￿W￿ in 16. The notes on page5 5 to 14 forni an integral part of ihe5e financial slatements. Page 3 ATMA LouDge Ol¢gi8tratlon number: CE031043) Bal￿¢¢ Sheet ￿ at 31 l>eeember 2024 Not¢ C•rr¢&t *s%ets Sto¢L8 Debtors 12 13 14 36J24 3291 203.031 75.088 241646 75.088 Credl¢on: f•UIDi d•t wlthl• ont yt*r 15 900 239.849 74.188 Funds ofthe charity: UllreJ¢rkted Iw•Ae lkn*ds 239.849 74.188 Totsl fM4ds 16 239.849 74.188 2025 and sigrd on ther behalf by.. Mr PAJefftrits The n(rt¢s ith pages 5 to 14 forni •n intewl pan ofthese financial ststan¢nts. ATMA Lounge Note5 to the FinaD¢i*I Statements for the Year Ended 31 December 2024 I Ch*rity St•tss The charity is limikd by 8uafdniee. irKory)oNed in England and Wale5. and consequenily does not have Share capitsl. Each of the trustees 15 liable ￿ contribu* an amouM exceeding £Nil tow¥rd5 the assets of the charity in the eveni of liquidation. The addre55 of its regisle￿I office is: 54 & 54A The Old Strt Folkestone Keni CT20 IRN These fLnaDci•I staternents were authori￿ for issue by the trus*¢s ON 14 OaobeT 2025. 2 pli¢ies Sllmwsry of $i￿1r￿ant KVMIRtiAg policle5 •qd key *C¢O•JA¢iThg e5tiuNt¢5 The princitd aCCOLmiing ￿11¢]¢5 applied in the preparnion of these fina￿1•1 5tstern￿ •ff out below. These policies ha￿ been Cr￿19¢0￿y applied to all the )raTh unlw otherwise ststrd. Ststem¢Trt of eompll•Aet The f￿￿nCial swemeftts have been in accord￿ with Accouniing and R￿ing by Charittes.. Statement of Recom￿ Prdctice (8pplicable to dwities preparing their accounts accord￿ with the Financial R¢￿ting Swidard applicable in the UK and Republic of Ireland (FRS 102)) (i5St¢d ÉD Octolxr 2019) - (Chariiies SORP (FRS 102)). the Financial iiewlifvg Stsndard applicable in the UK and Republic of Ireland (FRS 102) and the C(unP3n1￿ Aa 2006. B•sis of prtP•TAtio ATMA Lounge meets th¢ definiiion of a publTrc beDefii entiry under FRS 102. A55eis and liabiliiie5 are iniiially reco8ni%ed ai hisLorical cosi or transa￿10￿ value unless othen¥ise sthied in the relevant ac¢otsntln8 policy notes. Going ¢oo¢ern The U￿slee$ ￿N￿lder thai thue are no material UDcertainties about the Charity￿ •bility io coniinue as a 8oin8 concern nor any 5ignificani artas of uncenainty thai affea ihe carrying Value ofassets held by the Ch￿ty. Ineome 4Trd ¢odowrnats All income is reco8ni5ed once the charity has eniiilemeni th the income. li is pmblble that the income will be received 4nd the amourtt of the income Teceivable be Measu￿ reliably. ATMA iAbunge Notes to the Finanei41 Sl*temeDts for tbe Ye4r Ended 31 Dttember 2024 Donarfons andleK4des Donations are recognised when the rh8rity ha5 bttn n￿lfIed in WTitin8 of both the anwnt and settlement dale. In the eveni that a donation is subje¢t io conditions thal r¢quire a level of perfomwice by the chartty before the charity is entiiled to the fvnds, Ihe income is deferred aryj not reCo￿lsed until either those conditions are fvlty mei or the fvifilment of those rondilions is wholly within the control of the charity and kf 15 probable that these conditions wkll be fijifilled in ihe reporting period. Legacy gifis are recognised on • case by case basis following the yanl of probate when the admini5tratorlexecutor for the estaie has cornmunicated in writing both the amount and settle4n¢ni dat¢. In the event that ihe gift is in the fomi of an ￿$t1 other than cash or • fiNncial asset traded on a recognised $￿tk exthange, rEcognition 15 subjed io the value of the gift being reliably n￿aSurable with a de8rtt of reasonable accuracy and the iitk io the assd having b¢¢n ¢ransfeTh¢d ￿ th¢ thjrity. ExptAdltur¢ All expendinwe is recwised ortce there is i legal or Constructive obligation to that expeThliwre, li is probknle settlelnent is required and the amouni can i¢ meastsred Feliably. All costs are allocaled to the wpplitable expendilure headin8 that aggregate Similar costs io that cai¢gory. Where costs cannot be directly attribu*d to p3rticul8r headings ihey have bttn •llo¢aied on a b3sis Consi￿¢￿1 with the use of Tesources, with central costs allocated on the bJ5is of time spenl and dePT￿l￿10n thar¥es all0￿¢d on the w>rtion of the asset's use. Other suP￿rt costs are allocated based on the s￿ead ofsraff costs. Raisinzfvnd5 tradin8 activities rdise f*md Support cojts Support costs include central funciions and have been allocaied ¢0 acriviry COA carey￿¢5 on a basis consi#eiii with the use of resourn. fvr eXa￿pIe, alktating wperty costs by (knr are4 or per Capi￿ stsff cosrs by the titr* spent and other costs by their usa8L Covernlntt eojts These Inc1￿￿e the costs attrilyutsble w the chafity's ￿n￿lianCe with Con￿llUll0￿al and siatuiory reqiiiremen including audiL strategic management and tru￿rts mtttings arLd reimbursed exper￿S. T¥￿(10￿ The ¢lJarity is ￿nsider￿ the trsts sei in Paragraph I Schedule 6 of the Finance Aci 2010 and therefore it meets the definition of a clthritable eornpany for UK corFK)fdtiixi i&x purposes. A¢eordingly. the ¢h¥ity is poteniialty exempt from twiion in respect of income or capiwl g)ins received within ategortes eovered by Chapier 3 Part I l of the COr￿10Th Tax Act 2010 or Seciitsn 256 of tht Taxation of Chargeable Gains kn 1992. iothe extrnt tha such income orga1￿ aTe applied exclusively to ¢hariwble pwpose5. Stock Stork is valued ￿ the lower of c051 •nd estimaied stlling price less Costs io complete and selL after due regard for obsolrfe and slow MOVI￿ stocks. C05t is d¢temiined usiti8 ihe fiN-in, first•OW (FIFO). P•ge 6 ATMA Lothnge Iyotes to the Finallci￿ Statements for (he Year Ended 31 Deeember 2024 Tr￿¢ deblorg COU￿ of busines& Trnde debior5 4r¢ wised iniiially at the tranSX￿ price. 7ky are subsequently measured ￿ amortised cost using the effedive interest meihod. less provision for impairnwii. A provision for the impairnient of trade del￿rS is established when th¢re 1$ objedive evidence that the charity will be able io collea all amounts due according to the original tertll5 ofthe ffteivable5. C*$h #Dd usb equiv*lents C&8h and cash equivalents colTrp￿ on hand and L711 ttyits. and other short4em? highly liqvid investments thai arr readily ¢on¥¢rtibk to a kno￿ amount of rash and ￿ subjed ￿ an irt¥ignificani risk or change in value. Trnde ereditors Trade credtiors are obligaiions lo Fwj for golhts (Y services th* have been Wuiffd in the ordinary course of business from Supplie￿ AccouN5 payable are classified as liabilitie5 if the cl)arity does not have uncondiiional righ4 ¥ the end of the reponin8 period w defer 5ettlernent of the ¢reditor for at lea￿ n¥elve months after the reporting date. If there is an uncondiiional right ￿ defer settlement for ￿ leaM Th¥elve mon allerthe reporting dx they arr pre5enttd a5 liabilitie Tra& Crediiors att reco8nised initially at the subs¢wtly measwtd * amortised c05t using the effective rneth Intrrert-bearing b0￿Ing5 are iniiially rtcorded * fair value. nei of transadion costs. Interest-t¢aring borrowings ¥t subwuenily ￿￿1¢d ai amorti5ed cosl with the difference the proceed5, net of transacrion Co5￿ ard the amouni due on redemption beirtg reco￿l$ed as a chw to the Swemertt of Fitwicial AcÈivithts overthe olthe relevant borrowing. InRrest expense 15 VttO8nised on the b￿15 of the effedive intr1e￿ method and is intluded in inter￿1 ￿y•b similar chary Borrowings classified as currerti liabilities unless the Charity has an unconditional rithi io deftr settlemem of the liability for & Ieast Nelve m(fflths after the repffling d￿e. Fulld strnet• the objectives of the charity. ClosslJlc4llon Financial a55¢ts and finaKial liJbilitiCs are reco8nised when charity Ixcrn a party to the contracrull provisions of the insrrument. Financial liabiliiies and equity insmiments are etwified xcordin8 to the Jubstance of the wntrjctual arrnigements enterd inlo. An equity insrrumert is any ¢ontr4d th•t evidences a Tesidual ID th¢ ￿ets of the charity after deduding all of its liabilities. PJ8e 7 ATMA Lounge Notes to the Financial StAtem¢nts for tbe Year Ended 31 December 2024 RecoKnlrft>ft aftdmeds•rrnirnl All financial A5*ts and liabiliiie5 are initially rnusyred * tranS￿l0n price (irtcluding transaction e05ts), except for ihose financial &85ets cI￿lfied Ls at fair walue through profit or loss. which we inili3lly measured at fair walue (which is nornially the transattion price excluding trnnsaciion costs). unless the arransement constiDJtes • fmancing Iransadion. If an werneni constityte5 4 fuwicing transaction, the fuwici21 355et or financial liability is MeasU￿d ai the presem ￿l￿t of the fu￿re payments discounied at # market rate of inlerest for a simhiar debi instrument. Financial assets and liabilittes are only offset in the ststement of financial ￿$1110n wh¢n. and only when there exists a legally enforceable ri8hi lo set off the recosnised amounts and the ch&ity iniends either to Settle on net basis or io mlisc thE &%Sd Ind Settle the liability Simultaneo￿ty. FIn￿CIal assets are dereco8nised whth and (￿lY kn a) the rontrx￿I 17ghts io the cash flows from the rmancial expire or are sellled. b} the charity tran5fer5 to anothtt p¥ty substhniially all of the risks and rtwards of ownership of the fina￿1•1 ass¢L or c) the charity. despiie having relained some, but not JIL Si8nifKanl risks and rewards of ownttthip, ho5 nnsfelled control of the a55d to 8nother party. Fir￿￿111 liabilities we deretognis¢d onty the obli8ation specifKd in the coD¢rn¢t is dTscharged. cancelled or expire5. ATMA Lounge Notes to th¢ FiDancial Statements for the Yur Ended 31 Dettmbtr 2024 De￿InsI￿111thts tkbt Insin￿ whith the followin8 coNlilions *e the4￿tty fflea5￿ at amortised cost using the effeaive interest mtdwd: (a) The contract￿1 Jettwn to tht holder is (i) • fixed Amou￿. {ii) a posilive fLxed r* or a positive variable rate: or (iii) a ¢ombitiaiion of a p)sitive orA negaiive rued rJt¢ and a w>sitive variable ra¢e. Ib) The contract PTovide for Tepayllmits of the PTiocipal Of the ￿ io the holder fv not both) to be linked io a single relevant observable index of general wict intlation of currency in which the d¢ Insm￿¢nI is denominated, provided such links are noi leveraged. (c) The contract may provide for a dderniin&ble vari*ion of the reftinj io th¢ holts during the life of th¢ instrumenl Provided (i) the new Tale ￿l$fieS condiiion (a) and thE variation is contingent on futthre events other than (l) a change of a contracnMI variable rate. (2) io pr0￿ct the holder a8ainM credii dderioration of the issuer. (3) ¢hange5 in levie5 applied by a central Of Jrising from chan8es in relevani ￿allOn or law. or(ii) the new Me is a nwktt rnle of iDteFest and ￿L$r￿S condition {a). (d) There is no t¢ntrncfywl provision that cov14 by its term& rwh in the knlder losin8 the principal arnounl or {e) Contractual provision5 that pernbii the is5wY lo prepay a de￿ instrument or pmii the holder to pu¢ li to the i55uer before manwity are noi coniingeni on fithjre even￿ other than to profect the holder a8ainsi the ¢￿di1 deierioraiion of the issuer or a change in control of the issuer. or lo proM the holder or issuer against changes in levie5 aF¢>lied by a central bank Orarism￿ from chaftges in relevwrt wxation or l•w. (D Contr￿1 provisions may pennit the Cxw￿l0n of the ¢effli of the debr I￿$tru￿￿ Fwvided that the renrn io the t￿lder and any other Contr￿ provisions applicabk durts¥ the extended terni satisfy the conditions of ragrapb (8) to (c). Debt itL%trumtnts that arE cl￿tfied & paydble or Teceiyable within one Jtar on initial recogniiioft and whith th¢ a￿¥¢ wnditions Jre me&surol ai the undiscoyni¢d gmount ofthe cth w other con5iderntion expErted io be paid or re¢ei¥eu¢toiwt re504rtos Nei inujming Tesourtts for the ytar intltyle: 2024 Chwing the year the charity made the following transathons with tnw: Mr P A Jtfferlts Mr P A Jefferies rtc¢i¥ed remw￿￿1tin of£5.720(2023: £Nil) during the >rar. 10 Stsifrosts The a88re8atr payToII c45ts WUE as follows: 2024 Ststfcosts dorinz tht yoar were: w￿e5 and ￿]￿rieS 11,440 The monthty av¢rnge number of p¢r50ns (including senior mana8emeni I lethship teun) unployed by the ¢harity during the >tar exprtssed as fvll lime equivalents was A5 follow3: 2024 No No ernploytt received emolurnents of nmxe than £60.OiKI durin8 the ye•r. P•8e 12 ATMA IAuDge Noles to the Finan¢i*l St*lements for the Year Ended 31 Dtcember 2024 The charity is a ￿gIS￿led chuiry and is therefort ¢X¢W from tWI1￿. 12 Stoek 2024 Siocks 36.324 13 D¢btor5 2024 PrepoyTrents 819 1,568 3291 14 C*sh t•sh equiv•lr•ts 2023 Cash at bank 203.031 75,081 IS Crnlitor5: f•llimt dut wllhSA ooe yur 1024 2023 Trnde Cr￿1[(￿5 (Xher credilOIS Acc￿￿15 1.273 2.797 16 Funth B*l*ntt •t31 ResouTtt5 exptttded JA•u*ry 2024 2024 UnrutTkied General 74,188 187.79) 22.129 ?39.849 e13 ATMA Lounge Notes to the y￿anCIsI Statements for the Year EDd¢d 31 Detember 2024 B*lanet •t 31 Decemlxr 2023 Reso￿T(C5 *xptBd¢d Unrestricted Genernl 75.133 945 74,188 17 Analysis of net *5sets betwetTr funds U4res¢rlcied funds GeneT•I Total fwftds *t 31 Decembtr 2024 Current a55ets Current liabilili¢s 241646 242,646 (2.797) Total asse 239.849 239.849 Unrtstridtd r¥nds Gefj¢r•l Totsl fuDds *1 31 December 21)23 75.088 75.088 Current liabilities Totsl net assets 74.188 74,188 18 An*tysis of net fu4ds At31 De(tmbtr 2024 Ai l Janu*ry 2024 Cash * bank and in h￿￿1 75,088 75.088 Net debi 75.088 75,088 At31 Decemkr 2023 At I J•Rllmry 1023 Net debt 19 Related party tran￿ello￿l Paze 14 ATMA Lounge Statement of Fin*ncial Activitit5 by fund for the Year Ended 31 December 2024 Unrestridtd Funds Tot•1 Unre5trl¢ted URrutrlc(ed Funds Funds 2024 2023 IAcorne *nd Endowments from: Donalion5 and legacies Other trading activities 187.790 62.134 75.133 Total income 249,924 75.133 Espenditurt on: Rai5Lng fi]nds Charittble aciivities {41.914) 42.349) {945) Total exp¢ndilur¢ (84263 Net irKome 165.661 74,188 Nei movement irt fimds 165,661 74.188 Rteoneiliation of Totsl fiubds brought fonvard Toral fijnds cattied fonyard 74.188 239,849 74,188 ThTS page doe5 not forni part of the 51atutory financial ￿atements. Page 15 ATMA Lounge Det*iled StAtement of Financial Activities for the Year Eknded 31 Deeember 2024 Totsl 2023 2024 Intome •nd Endowments from". Donaiion5 and Icgacie5 (an￿l￿d below> Othcr trading aciivities (analysed below) 187.790 62,134 75.133 Toial income 249,924 75.133 Expendilure on". R&LSLng fjJnds (analysed brlow) Charitable a¢tLVjtLes {anal)sed below) (41,914) (42,349) (945) Total expelldiiu Net income 84263 (945) 165.661 74.188 Net movemenl in fwHIs 165.661 74,188 Recon¢iliqlioD of funds Total funds broughi fornwd 74.188 Total funds carried forw7rd 239.849 74.188 This p3ge does I￿1 form part of the Stsiuiory financial siaiements. Page 16 ATMA Lounge Detsiled Statement of Financial Activitie5 for the Year EDded 31 December 2024 Totsl 2024 Total 2023 Donarfons Itgdel Mtfflbef5hip Appea15 and donations Gift Aid thx reclaimed 3.871 183.61)6 313 75.133 187.790 75.133 Sale5 ofpUrCh￿d good5 62.134 62.134 Flwchases Closing Wages and salaTies Volynieer expense5 Accountancy fee5 Lzgal aAd prof￿10￿11 ftes {62244) 36.324 (11,440) (979> (1260} {390) (1.925 {900) (35) (101 (945 41.914 (15,825) .588) (4.021) {1.9?0) {1.102} (1.8?6) (16) (464) (5.102) (377) 9.108) LighL heat and p)w¢r Telephone Prfftiin& p)5ts8e and swtiry CPoriuble don*1( C]eaning Trnvel and sub5iSWK* 142.3491 This page does forni part ofthe finjncial smemerfs. Pa8e 17