``` REGISTERED COMPANY NUMBER: CE037400 (England and Wales) REGISTERED CHARITY NUMBER: 1209854 ``` ``` Report of the Trustees and Unaudited Financial Statements for the Period 3 September 2024 to 31 March 2025 for ``` ``` Gunasekera Karunaratna (GK) Foundation ``` ``` S&W Partners (Newcastle) Limited 17 Queens Lane Newcastle upon Tyne Tyne and Wear NE1 1RN ``` ``` Gunasekera Karunaratna (GK) Foundation ``` ``` Contents of the Financial Statements for the Period 3 September 2024 to 31 March 2025 ``` |||**`Page`**|| |---|---|---|---| |**`Report of the Trustees`**||`1`|| |**`Independent Examiner's Report`**||`2`|| |**`Statement of Financial Activities`**||`3`|| |**`Balance Sheet`**||`4`|| |**`Notes to the Financial Statements`**|`5`|`to`|`6`| |**`Detailed Statement of Financial Activities`**||`7`|| ``` Gunasekera Karunaratna (GK) Foundation ``` ## **`Report of the Trustees`** ## **`for the Period 3 September 2024 to 31 March 2025`** ``` ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report withthefinancialstatementsofthecharityfortheperiod3September2024to31March2025.Thetrustees have adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicable to charitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUK and Republic of Ireland (FRS 102) (effective 1 January 2019). ``` ## **`INCORPORATION`** ``` The charitable company was incorporated on 3 September 2024 and commenced trading on the same date. ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Objectives and aims`** ``` The charity's objectives are: ``` ``` 1. to promote sustainable development for the benefit of the public; ``` ``` 2.topromotetheeducationofpeopleinsociallydisadvantagedcommunitiesinsuchwaysasthecharitytrustees think fit; ``` ``` 3.torelievethoseinneed,byreasonofyouth,age,ill-health,disability,financialorotherdisadvantageby providing: grants, items and services to such individuals and/or charities or other organisation working to relieve such needs. ``` ## **`Significant activities`** ``` Duringtheperiod,thecharityissuedonegrantinaccordancewithitsobjectives.Thetrusteesareactively seeking further opportunities to support individuals in accordance with the charity's objectives. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Governing document`** ``` Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimitedcompany,limited by guarantee, as defined by the Companies Act 2006. ``` ## **`REFERENCE AND ADMINISTRATIVE DETAILS`** ## **`Registered Company number`** ``` CE037400 (England and Wales) ``` ``` Registered Charity number 1209854 ``` ``` Registered office 2 Broadlands Avenue London SW16 1NA ``` ``` Trustees Mr H S G Karunaratna (appointed 3.9.24) Mr D L B Karunaratne (appointed 3.9.24) Mr A Simpson (appointed 3.9.24) Mr G A Karunaratne (appointed 3.9.24) Mrs P A Simpson (appointed 3.9.24) ``` ``` Independent Examiner S&W Partners (Newcastle) Limited 17 Queens Lane Newcastle upon Tyne Tyne and Wear NE1 1RN ``` 21/04/2026 `Approved by order of the board of trustees on ............................................. and signed on its behalf by:` ``` .............................................................. Mr H S G Karunaratna - Trustee ``` ``` Page 1 ``` ## **`Independent Examiner's Report to the Trustees of Gunasekera Karunaratna (GK) Foundation`** ``` Independentexaminer'sreporttothetrusteesofGunasekeraKarunaratna(GK)Foundation ('the Company') ``` ``` IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheperiod3September2024 to 31 March 2025. ``` ## **`Responsibilities and basis of report`** ``` Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)youare responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). ``` ``` HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16ofthe2006 Act andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccounts as carriedoutunderSection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationI have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. ``` ## **`Independent examiner's statement`** ``` Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbeamemberofalistedbody.Ican confirm thatIamqualifiedtoundertaketheexaminationbecauseIamamemberoftheAssociationofChartered Certified Accountants, which is one of the listed bodies. ``` ``` Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the examination giving me cause to believe: ``` `1. accounting records were not kept in respect of the Company 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)).` ``` Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ``` ## Craig Henderson Craig Henderson (Apr 20, 2026 13:56:56 GMT+1) ``` Craig Henderson FCCA ``` ``` S&W Partners (Newcastle) Limited 17 Queens Lane Newcastle upon Tyne Tyne and Wear NE1 1RN ``` 20/04/2026 `Date: .............................................` ``` Page 2 ``` ## **`Gunasekera Karunaratna (GK) Foundation`** ## **`Statement of Financial Activities for the Period 3 September 2024 to 31 March 2025`** |||`Unrestricte`| |---|---|---| |||`fund`| ||`Notes`|`£`| |**`INCOME AND ENDOWMENTS FROM`**||| |`Donations and legacies`||`642,001`| |`Investment income`|`2`|`1,685`| |**`Total`**||`643,686`| |**`EXPENDITURE ON`**||| |**`Charitable activities`**||| |`Charitable activities`||`236`| |`Other`||`2,712`| |**`Total`**||`2,948`| |**`NET INCOME`**||`640,738`| |**`TOTAL FUNDS CARRIED FORWARD`**||`640,738`| ``` The notes form part of these financial statements ``` ``` Page 3 ``` ## **`Gunasekera Karunaratna (GK) Foundation`** |**`Balance Sheet`**
**`31 March 2025`**
`Notes`
**`FIXED ASSETS`**
`Investment property`
`4`
**`CURRENT ASSETS`**
`Cash at bank`
**`CREDITORS`**
`Amounts falling due within one year`
`5`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`NET ASSETS`**
**`FUNDS`**
`6`
`Unrestricted funds`
**`TOTAL FUNDS`**|`Unrestricte`
`fund`
`£`
`640,000`
`2,950`
`(2,212)`
`738`
`640,738`
`640,738`
`640,738`
`640,738`| |---|---| ``` ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006for the period ended 31 March 2025. ``` ``` Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheperiod ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006. ``` ``` The trustees acknowledge their responsibilities for ``` - `(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and` - `(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.` ``` Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies subject to the small companies regime. ``` ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on ............................................. and were signed on its behalf by: ``` 21/04/2026 ``` ............................................. ``` ``` Mr H S G Karunaratna - Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 4 ``` ``` Gunasekera Karunaratna (GK) Foundation ``` ## **`Notes to the Financial Statements`** ## **`for the Period 3 September 2024 to 31 March 2025`** ## **`1. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial ReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January 2019)', FinancialReportingStandard102'TheFinancialReportingStandardapplicableintheUKandRepublic of Ireland'andtheCompaniesAct2006.Thefinancialstatementshavebeenpreparedunderthehistorical cost convention. ``` ## **`Income`** ``` AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds, it is probable that the income will be received and the amount can be measured reliably. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and theamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasis and hasbeenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannot be directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the use of resources. ``` ## **`Investment property`** ``` Investmentpropertyisshownatmostrecentvaluation.Anyaggregatesurplusordeficitarisingfrom changes in fair value is recognised in the Statement of Financial Activities. ``` ``` Investmentpropertyismeasuredatfairvalueateachreportingdatewithchangesinfairvaluerecognised in the SOFA. The fair value is determined annually by the trustees. ``` ## **`Taxation`** ``` The charity is exempt from corporation tax on its charitable activities. ``` ## **`Fund accounting`** ``` Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. ``` ``` Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. ``` ``` Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ``` ## **`2. INVESTMENT INCOME`** |**`INVESTMENT INCOME`**|| |---|---| ||`£`| |`Rents received`|`1,685`| ## **`3. TRUSTEES' REMUNERATION AND BENEFITS`** ``` There were no trustees' remuneration or other benefits for the period ended 31 March 2025. ``` ## **`Trustees' expenses`** ``` There were no trustees' expenses paid for the period ended 31 March 2025. ``` ## **`4.`** ## **`INVESTMENT PROPERTY`** |**`FAIR VALUE`**
`Additions`
`At 31 March 2025`
**`NET BOOK VALUE`**
`At 31 March 2025`|`£`
`640,000`| |---|---| ||`640,000`| ||`640,000`| ``` continued... ``` ``` Page 5 ``` ``` Gunasekera Karunaratna (GK) Foundation ``` ## **`Notes to the Financial Statements - continued for the Period 3 September 2024 to 31 March 2025`** ## **`5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** |||`£`| |---|---|---| |`Other creditors`||`1,012`| |`Accruals and deferred income`||`1,200`| |||`2,212`| |**`MOVEMENT IN FUNDS`**||| ||`Net`|| ||`movement`|`At`| ||`in funds`|`31.3.25`| ||`£`|`£`| |**`Unrestricted funds`**||| |`General fund`|`640,738`|`640,738`| |**`TOTAL FUNDS`**|`640,738`|`640,738`| ## **`6. MOVEMENT IN FUNDS`** ``` Net movement in funds, included in the above are as follows: ``` ||`Incoming`|`Resources`|`Movement`| |---|---|---|---| ||`resources`|`expended`|`in funds`| ||`£`|`£`|`£`| |**`Unrestricted funds`**|||| |`General fund`|`643,686`|`(2,948)`|`640,738`| |**`TOTAL FUNDS`**|`643,686`|`(2,948)`|`640,738`| ## **`7. RELATED PARTY DISCLOSURES`** ``` There were no related party transactions for the period ended 31 March 2025. ``` ``` Page 6 ``` ``` Gunasekera Karunaratna (GK) Foundation ``` ## **`Detailed Statement of Financial Activities`** ## **`for the Period 3 September 2024 to 31 March 2025`** |**`Detailed Statement of Financial Activities`**
**`for the Period 3 September 2024 to 31 March 2025`**|| |---|---| |**`INCOME AND ENDOWMENTS`**
**`Donations and legacies`**
`Gifts`
`Donations`
**`Investment income`**
`Rents received`
**`Total incoming resources`**
**`EXPENDITURE`**
**`Charitable activities`**
`Medical supplies`
**`Support costs`**
**`Governance costs`**
`Accountancy fees`
`Legal and professional fees`
`Total resources expended`
**`Net income`**|`£`
`640,000`
`2,001`| ||`642,001`
`1,685`| ||`643,686`
`236`
`1,200`
`1,512`| ||`2,712`| ||`2,948`| ||`640,738`| ``` This page does not form part of the statutory financial statements ``` ``` Page 7 ```