THE MSP FOUNDATION
CHARITY REGISTRATION NO: 1207449
REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD 14 MARCH 2024 TO 31 DECEMBER 2024
| CONTENTS | PAGE |
|---|---|
| Trustees' Report | 1 to 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 3 |
THE MSP FOUNDATION TRUSTEES' REPORT
Page 1
The trustees present their first report of the charity for the period from registration on 14 March 2024 to 31 December 2024.
ADMINISTRATIVE DETAILS
Charity registration number 1207449 Principal address Unit 5 Gamma House Laser Quay Culpeper Close Rochester Kent ME2 4HU Trustees Mr G S Phagura Mr R S Phagura
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The charity is a charitable incorporated organisation registered with the Charity Commission on 14 March 2024 and governed by its constitution adopted on the same date.
Appointment of Trustees
The trustees named above are the first trustees appointed in the charity's constitution, and are appointed for these terms: G S Phagura for 10 years; and R S Phagura for 9 years.Apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees.The maximum number of trustees shall not be less than two, and more than twelve.
OBJECTIVES AND ACTIVITIES
Objectives
The objects of the charity are:
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to advance the education of the pupils at Ramgarh School in Ramgarh, Punjab, India by assisting in the provision of facilities for education at the school and in such other ways as the charity trustees think fit including providing uniforms, shoes and stationery for the pupils of the school;
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the prevention or relief of poverty in Ramgarh, Punjab, India and the surrounding area by providing grants, items and services to individuals in need and/or charities or other organisations working to prevent or relieve poverty; and
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to further such exclusively charitable purposes for the public benefit according according to the law of England and Wales as the charity trustees shall in their absolute descretion determine.
THE MSP FOUNDATION TRUSTEES' REPORT
Page 2
FINANCIAL REVIEW
Review of the Financial Position
The charity had no funds throughout the period under review and incurred no expenses.
Plans for the Future
The charity aims to commence raising funds in 2025 to fulfil its objectives.
Trustees' Responsibilities
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees on 27 October 2025 and signed on their behalf
G S Phagura - Chairman
THE MSP FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 DECEMBER 2024
Page 3
| INCOME EXPENDITURE NET INCOME AND TOTAL FUNDS CARRIED FORWARD BALANCE SHEET AT 31 DECEMBER 2024 FIXED ASSETS CURRENT ASSETS CREDITORS: amounts falling due within one year TOTAL ASSETS LESS CURRENT LIABILITIES TOTAL CHARITY FUNDS NOTES TO THE FINANCIAL STATEMENTS |
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1 TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES
None of the trustees have been paid any remuneration or received any benefits for their services.
Approved by the trustees on 27 October 2025 and signed on their behalf
G S Phagura - Chairman