Charity number : 271513
ZVM RANGOONWALA FOUNDATION
AUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
| Page | |
|---|---|
| Reference and Administrative Detailsofthe Charity,itsTrustees and Advisers | |
| Trustees' Report | 1 - 2 |
| Trustees' Responsibilities Statement | 3 |
| IndependentAuditor'sReportonthe Financial Statements | 4-7 |
| StatementofFinancial Activities | 8 |
| Balance Sheet | 9 |
| StatementofCash Flows | 10 |
| Notestothe Financial Statements | 11- 19 |
ZVM RANGOONWALA FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025
Activities and Achievements(continued):
An additional £1,328,331 (2024 : £535,000) was also released from ZVM Rangoonwala Foundation to its partner ZVMG Rangoonwala Trust (Pakistan) for its own operation and programme costs as well as towards grants for its local partners.
ZVMG Rangoonwala Trust, Pakistan
The ZVMG Rangoonwala Trust was founded in 1963 in Pakistan by the late Mr. Mohamed Aly Rangoonwala, in memory of his parents, Zuleikhabai Abdur Rehman and Valy Mohamed Gany. The Trust is rooted in the principles of its founder, who strongly believed in free trade, fair competition, and the responsibility of the fortunate to alleviate poverty and raise the standard of living for the less fortunate. The Trust’s key activities include providing institutional donations to organisations across Pakistan, as well as delivering direct services to communities in Karachi. The overall mission of the Trust is to empower communities to help themselves.
Geographical Reach:
During the financial year 2024-25, the ZVM Rangoonwala Foundation funded projects and programs across various regions, including the UK, Pakistan, Bangladesh, India, Sri Lanka, Africa, the USA, Afghanistan, and some donations span multiple locations (primarily in South Asia countries).
Financial Review:
Financial Summary:
| Item | 2025(£) | 2024 (£) | |
|---|---|---|---|
| TotalIncome | 1,666,169 | 2,885,000 | |
| TotalGrantsPaid | 2,276,328 | 1,752,591 | |
| AdministrativeCosts | 79,950 | 66,402 | |
| ReservesatYear-End | 535,550 | 1,249,634 | ( |
Reserves Policy:
The Charity holds £535,550 in unrestricted reserves. The Trustees' policy is to maintain a level of reserves sufficient to cover at least 12 months of core operating and administrative expenditure. This ensures the Foundation can maintain its infrastructure and oversight of long-term projects regardless of short-term funding fluctuations. At the current expenditure level, the reserves significantly exceed this minimum requirement, providing a robust cushion for future operations.
Governance:
Trustee Recruitment & Meetings: As the charity is a family foundation, the majority of the trustees are Rangoonwala family members.
• The Board met 4 times during the year.
Risk Management:
Principal risks include grantee due diligence and income concentration. We mitigate these through rigorous partner vetting.
Conflicts of Interest: Trustees declare conflicts annually and abstain from related decisions.
Plans for 2025-2026
Continue to monitor grants and take on new grants which meet our charitable objectives in the UK and globally.
, Approved by order of the members of the board of Trustees and signed on its behalf by
Mrs M Dalamal
(Chair of Trustees)
Date:
Page 2
ZVM RANGOONWALA FOUNDATION
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ZVM RANGOONWALA FOUNDATION (CONTINUED)
intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at:[www.frc.org.uk/auditorsresDonsibilities.] This description forms part of our Auditor's Report.
Use of our report
This report is made solely to the Charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity's trustees those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity's trustees, as a body, for our audit work, for this report, or for the opinions we have formed.
Mark Nelligan FCA (senior statutory auditor)
For and on behalf of
Wellden Turnbull Limited Chartered Accountants Statutory Auditors Albany House Claremont Lane Esher Surrey KT10 9FQ
Date: 29/04/2026
Wellden Turnbull Limited are eligible to act as auditors in terms of the Charities Act 2011.
Page 7
| Note Income from: Donations and legacies 4 Total income Expenditure on: Charitable activities 8 Total expenditure Net (expenditure)/income before net losses on investments Net losses on investments 11 Net movementinfunds Reconciliationoffunds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £ 1,666,169 1,666,169 2,356,277 2,356,277 (690,108) (23,976) (714,084) 1,249,634 (714,084) 535,550 |
Total funds 2025 £ 1,666,169 1,666,169 2,356,277 2,356,277 (690,108) (23,976) (714,084) |
As restated Total funds 2024 £ 2,885,000 2,885,000 1,818,594 1,818,594 1,066,406 1,066,406 183,228 1,066,406 1,249,634 |
|---|---|---|---|
| 1,249,634 (714,084) 535,550 |
| Fixed assets Investments Current assets Cash at bank andinhand Current liabilities Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Total net assets Charity funds Restricted funds Unrestricted funds Total funds Note 11 12 |
246,474 246,474 (13,500) |
2025 £ 302,576 302,576 232,974 535,550 535,550 535,550 535,550 |
1,095,164 1,095,164 (5,700) |
As restated 2024 £ 160,170 160,170 1,089,464 |
|---|---|---|---|---|
| 1,249,634 | ||||
| 1,249,634 | ||||
| 1,249,634 | ||||
| 1,249,634 |
| Cash flows from operating activities Net cash usedinoperating activities Cash flows from investing activities Purchase of investments Net cash usedininvesting activities Cash flows from financing activities Net cash providedbyfinancing activities Change in cash and cash equivalentsinthe year Cashandcash equivalents at the beginning of the year Cash and cash equivalents at the end of the year The notesonpages11to19form part of these financial statements |
2025 £ (682,309) (166,382) (166,382) (848,691) 1,095,165 246,474 |
As restated 2024 £ 1,066,706 (160,170) (160,170) 906,536 188,629 1,095,165 |
|---|---|---|
| Donation and legacies | ||
|---|---|---|
| Unrestricted | Unrestricted | |
| Funds | Funds | |
| 2025 | 2024 | |
| £ | £ | |
| Donation and legacies | 1,666,169 | 2,885,000 |
| Grants to institutions: Grants to institutions relating to education and livelihoods Grants to institutions relating to health and disability Grants to institutions relating to community Grants to institutions relating to arts and culture Grants to ZVMG Rangoonwala Trust (Pakistan). |
2025 £ 394,078 213,851 270,067 70,000 947,996 1,328,331 2,276,327 |
As restated 2024 £ 257,214 544,211 336,418 79,348 1,217,191 535,000 1,752,191 |
|---|---|---|
| NameofCharity | Amount(£) | Purpose |
|---|---|---|
| Art South Asia Project | 70,000 | Arts education and development charity |
| Ayati | 15,000 | Disability centre in Sri Lanka |
| Non-profit organisation dedicated to supporting British | ||
| British Pakistan Foundation | 100,000 | Pakistanisinthe UK |
| Dasra | 30,000 | Rebuild Fund, fund to support grassroots NGOsinIndia |
| Deafreach | 15,000 | Supporting a school for deaf childreninBurundi |
| Diverse Abilities | 15,000 | Disability charity in Devon |
| Gasworks | 4,500 | Art residency programme |
| GDST | 6,500 | Debate programme for secondary schoolsinLondon |
| MAITS | 80,000 | Promotionofresearch and educationinSouth Asia. |
| Habib University Trust | 38,000 | Towards an endowment for university scholarships |
| Wheels to Heal | 20,000 | Recycled disability equipment programme |
| Menterra | 200,000 | Social fund for education, agriculture and healthinIndia |
| Motivation | 35,000 | Wheelchair and mobility programme in India and Nepal |
| Research think tank committed to producing research | ||
| Equi | 10,000 | and policy recommendations on issues affecting the UK |
| Pakistan High Commission | 15,000 | Community programmesinLondon |
| Starlight | 13,333 | Hospital training programmeinthe UK |
| Enliven Mama Africa | 4,000 | Girls vocational traininginGhana |
| International Award Association | 16,857 | Programme for young peopleinZambia |
| 30 Birds Foundation | 25,000 | Girls education programmeinAfghanistan |
| Upsign | 20,800 | STEM teacher training programmeinPakistan |
| Total | 733,990 |
| Bank charges Printing, postage and stationary Computer costs Legal and professional Consultancy Art exhibition costs Insurance Travelling Memberships Audit and accounts fees |
Support costs £ 590 838 789 19,350 43,930 786 13 5,853 721149 |
Governance costs £ 71800 71800 |
2025 £ 590 838 789 19,350 43,930 786 13 5,853 71800 791949 2024 Basisofallocation £ 560 General support 180 General support 7,281 General support 12,023 By time spent 39,464 By time spent 430 General support 764 General support - General support - General support Governance -Statutory _5]00_work 661402 |
|
|---|---|---|---|---|
| Support costs Grants payable Support costs Grants payable Unrestricted funds 2025 £ 79,949 2,276,328 2,356,277 As restated Unrestricted funds 2024 £ 66,403 1,752,191 1,818,594 |
Total 2025 £ 79,949 2,276,328 2,356,277 |
|---|---|
| As restated Total 2024 £ 66,403 1,752,191 1,818,594 |
| Cost or valuation At1 July 2024 (As restated) Additions Foreign exchange movement At30 June 2025 Net book value At 30 June 2025 At30 June 2024 (As restated) |
Unlisted investments £ 160,170 166,382 (23,976) 302,576 302,576 160,170 |
|---|---|
| Trade creditors Accruals and deferred income |
2025 £ 5,700 7,800 13,500 |
2024 £ 5,700 5,700 |
|---|---|---|
| As restated | Balance at | ||||
|---|---|---|---|---|---|
| Balance at 1 | Gains/ | 30 June | |||
| July 2024 | Income | Expenditure | (Losses) | 2025 | |
| £ | £ | £ | £ | £ | |
| General funds | 1,249,634 | 1,666,169 | (2,356,277) | (23,976) | 535,550 |
| Fixed asset investments Current assets Creditors due within one year Total Unrestricted funds 2025 £ 302,576 246,474 (13,500) 535,550 |
Total funds 2025 £ 302,576 246,474 (13,500) 535,550 |
|---|---|
| Net income/expenditure for the year (as per Statement of Financial Activities) Adjustments for: Gainsoninvestments Increaseincreditors Net cash provided by/(used in) operating activities |
2025 £ (714,084) 23,975 7,800 (682,309) |
2024 £ 1,066,406 300 1,066,706 |
|---|---|---|
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Cashinhand | 246,474 | 1,095,165 |
| At 1 July 2024 1,095,165 1,095,165 |
At 30 June Cash flows 2025 £ £ (848,691) 246,474 (848,691) 246,474 |
|---|---|