## THINK GITA ## Think Gita Charity No 1202738 Trustees' report and financial statements For the year ended 31 August 2024 1 | P a g e ## THINK GITA ## CONTENTS PAGE |Information page|3| |---|---| |Trustees' report|4| |Independent examiner's report|6| |Statement of financial activities|7| |(incorporating the income and expenditure account)|| |Balance sheet|8| |Notes to the accounts|9| 2 | P a g e ## THINK GITA ## MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS Registered charity name THINK GITA Charity number 1202738 Registered o ffi ce JAYANTI HOUSE 34 GREENHILL WAY HARROW HA1 1LE Trustees Independent examiners |||Appointed|Resigned| |---|---|---|---| |Deepak Dhrona|Chair|01-Feb-23|31-Aug-24| |Rishi Kishore Bajaj||01-Feb-23|31-Aug-24| |Rajiv Jagdish Nandha||01-Feb-23|| |Arati Lena Dhrona||01-Feb-23|| |Dimple Lalwani||01-Feb-23|15-Apr-23| |Nikhil Mhatre||06-Jun-24|| |Snehal Thakar||06-Jun-24|| |Dr Jessal Pankhania||06-Jun-24|| |Ajay Sharma||06-Jun-24|| |Manju Sharma||06-Jun-24|| |Dimple Lalwani||06-Jun-24|| |Kunal Kotecha||06-Jun-24|| ||Khariwal|Associates|| ||35 Bedford Road||| ||Moor Park||| ||HA6 2AX||| 3 | P a g e ## THINK GITA ## TRUSTEES' ANNUAL REPORT ## STRUCTURE, GOVERNANCE AND MANAGEMENT Think Gita is a Charitable Incorporated Organisa ! on (CIO), registered with the Charity Commission on 6th March 2023. The charity is governed by its cons ! tu ! on, which outlines the appointment, powers, and responsibili ! es of the trustees. The board of trustees meets regularly to oversee the charity ’ s strategic direc ! on, ensure compliance with legal obliga ! ons, and monitor fi nancial and opera ! onal performance. Day-to-day opera ! ons are managed by volunteers and project leads, under the guidance of the trustees. Trustees are recruited based on their alignment with the charity ’ s values and their ability to contribute skills in educa ! on, community engagement, fi nance, and governance. New trustees receive an induc ! on and are encouraged to undertake ongoing training. ## OBJECTIVES AND ACTIVITIES The charity ’ s primary objec ! ve is to promote educa ! on and personal development through the teachings of the Bhagavad Gita, a revered spiritual text. Think Gita aims to: - Make the wisdom of the Gita accessible to people of all ages and backgrounds. - Support mental well-being and ethical living through spiritual educa ! on. - Foster interfaith dialogue and community cohesion. Key ac ! vi ! es during the year included: - Weekly online and in-person study sessions. - Youth workshops and school outreach programmes. - Distribu ! on of Gita literature and educa ! onal materials. - Hos ! ng public talks and interfaith events. ## PUBLIC BENEFIT The trustees con fi rm that they have complied with the duty in sec ! on 17 of the Chari ! es Act 2011 to have due regard to the public bene fi t guidance published by the Charity Commission. Think Gita ’ s ac ! vi ! es are open to all, regardless of faith or background. The charity provides free educa ! onal resources, promotes mental well-being, and encourages ethical living, thereby contribu ! ng to the moral and spiritual development of individuals and communi ! es. 4 | P a g e ## THINK GITA ## ACHIEVEMENTS AND PERFORMANCE In its rst full year of opera ! on, Think Gita achieved several milestones: - Reached over 1,200 individuals through online and in-person sessions. - Partnered with 5 schools to deliver Gita-based values educa ! on. - Distributed over 3,000 copies of the Bhagavad Gita and related literature. - Launched a podcast series with over 10,000 downloads. - Held a successful “ Gita for Peace ” interfaith conference a & ended by 200+ par ! cipants. Feedback from par ! cipants has been overwhelmingly posi ! ve, with many repor ! ng improved mental clarity, emo ! onal resilience, and a deeper sense of purpose. ## FINANCIAL REVIEW The charity ’ s income for the year was £118,982, primarily from individual dona ! ons and events. Expenditure totalled £72,546, with the main costs being: - Materials: £10,809 - Venue hire and event costs: £50,175 - Digital infrastructure and Graphic Design: £10,460 The charity ended the year with a surplus of £46,435, which will be carried forward to support future projects. The trustees are commi & ed to maintaining fi nancial transparency and ensuring that funds are used e ff ec ! vely to further the charity ’ s objec ! ves. ## STATEMENT OF RESPONSIBILITIES OF THE TRUSTEES The trustees are responsible for preparing the Trustees ’ Annual Report and fi nancial statements in accordance with applicable law and United Kingdom Accoun ! ng Standards. The trustees are required to: - Ensure proper accoun ! ng records are kept. - Safeguard the assets of the charity. - Take reasonable steps to prevent and detect fraud and other irregulari ! es. - Prepare fi nancial statements that give a true and fair view of the charity ’ s fi nancial ac ! vi ! and posi ! on. Approved by the Board of Trustees and signed on their behalf by: Deepak Dhrona Chair of Trustees Date: 27 June 2024 5 | P a g e ## THINK GITA ## INDEPENDENT EXAMINER ’ S REPORT TO THE TRUSTEES I report to the trustees on my examina ! on of the accounts of the above charity ( “ the Trust ” ) for the year ended 31 August 2024. ## Responsibili ! es and basis of report As the charity's trustees, you are responsible for the prepara ! on of the accounts in accordance with the requirements of the Chari ! es Act 2011 ( “ the Act ” ). ## Independent examiner ’ s statement I report in respect of my examina ! on of the Trust ’ s accounts carried out under sec ! on 145 of the 2011 Act and in carrying out my examina ! on, I have followed all the applicable Direc ! ons given by the Charity Commission under sec ! on 145(5)(b) of the Act. I have completed my examina ! on. I con fi rm that no material ma & ers have come to my a & en ! on in connec ! on with the examina ! on which gives me cause to believe that in, any material respect: - the accoun ! ng records were not kept in accordance with sec ! on 130 of the Chari ! es Act; or - the accounts did not accord with the accoun ! ng records; or • the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Chari ! es (Accounts and Reports) Regula ! ons 2008 other than any requirement that the accounts give a ‘ true and fair ’ view which is not a ma & er considered as part of an independent examina ! on. I have no concerns and have come across no other ma & ers in connec ! on with the examina ! on to which a & en ! on should be drawn in this report in order to enable a proper understanding of the accounts to be reached. M Khariwal ACCA Khariwal Associates Limited 35 Bedford Road HA6 2AX 6 | P a g e ## THINK GITA ## STATEMENT OF FINANCIAL ACTIVITIES ## (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) ||**2024**| |---|---| ||**£**| |**INCOME**|| |Income from:|| |Donations and Charitable Activities|**118,589**| |Interest Received|**393**| |**TOTAL INCOME**|**118,982**| |**EXPENDITURE**|| |Expenditure on:|| |Charitable Activities|**69,734**| |Support costs|**2,813**| |**TOTAL EXPENDITURE**|**72,546**| |**Net income / (expenditure)**|**46,435**| |Funds brought forward|**-**| |**Funds carried forward**|**46,435**| |All of the above results are derived from continuing activities.|| There were no recognised gains and losses other than those stated above. 7 | P a g e ## THINK GITA ## BALANCE SHEET ## _As at 31 August 2024_ |||**2024**| |---|---|---| |**Note**|**£**|**£**| |**CURRENT ASSETS**||| |Debtors|**-**|| |Cash at bank and in hand|**47,185**|| ||**47,185**|| |**Creditors:**||| |**amounts falling due within one**
**year**|**(750)**|| |**NET CURRENT ASSETS**||**46,435**| |**Creditors: amounts**||| |**falling due after more**||**-**| |**than one year:**||| |**NET ASSETS**||**46,435**| |**FUNDS**||| |Unrestricted funds||| |General fund|**-**|**46,435**| 8 | P a g e THINK GITA ## **1. ACCOUNTING POLICIES** ## **Statement of Compliance** The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland - (Charities SORP FRS 102). The Charity 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 or note. The company has taken advantage of the exemption under section 402 of Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group. ## **General Information** The Charity is a registered in England and Wales (charity number: 1202738). The Charity ’ s registered office address is : Jayanti House , 34 Greenhill Way , Harrow, HA1 1LE. ## **Going concern** The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern. Key judgements that the Charity has made which have a significant effect on the accounts include preparing forecasts and long term business strategy. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. ## **Income** Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably. ## **Fund accounting** Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity ’ s work or for specific projects being undertaken by the charity. ## **Expenditure and irrecoverable VAT** Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. 9 | P a g e ## THINK GITA ## **Allocation of support costs** Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's activities. These costs have been allocated between the direct activities of the charity on the basis of staff time. ## **Financial instruments** The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ||**2024**| |---|---| ||**£**| |Financial assets at amortised cost (a)|**47,185**| |Financial liabilities at amortised cost (b)|**750**| (a) comprising all debtors as detailed in Note 8, other than prepayments. (b) comprising all creditors as detailed per Note 9, other than deferred income and taxation and social security. ## **Debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **Cash at bank and in hand** Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **Creditors and provisions** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## **Significant judgments and sources of estimation uncertainty** The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Charity ’ s accounting policies. The key judgements that have been applied by management relate to depreciation rates. 10 | P a g e ## THINK GITA ## **2. SUPPORT COSTS** Other support costs **2024 £ 2,813 2,813** ## **3. EMPLOYEE AND KEY MANAGEMENT PERSONNEL** The key management personnel of the Charity comprise the trustees ( “ Directors ” for the purposes of the Companies Act) and Senior Management Team. The total amounts paid in respect of the key management personnel of the Charity (including employer's National Insurance contributions and employer's pension contributions) were £nil. None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the period. |**4. BANK**|**2024**| |---|---| ||**£**| |Bank Balances|**47,185**| ||**47,185**| |**5. CREDITORS:**|**2024**| |**Amounts falling due**|| |**within one year**|| ||**£**| |Accruals - Accounting Fee|**750**| ||**750**| 11 | P a g e ## THINK GITA ## **6. STATEMENT OF FUNDS - CURRENT YEAR** ## **SUMMARY OF FUNDS IN THE YEAR** |||||**Balance**| |---|---|---|---|---| ||**Balance at**|||**at**| |||||**31**| ||**17 April**|||**August**| ||**2023**|**Income**|**Expenditure**|**2024**| ||**£**|**£**|**£**|**£**| |General fund|**-**|**118,982**|**(72,546)**|**46,435**| |**Total funds**|**-**|**118,982**|**(72,546)**|**46,435**| ## **7.RELATED PARTY TRANSACTIONS** There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties. A current trustee received remuneration for services rendered whilst they were not serving as a trustee. The total renumeration paid was £8,750 12 | P a g e