**SRI SATHYA SAI CHARITABLE TRUST UK**
## **TRUSTEES REPORT**
## _**FOR THE YEAR ENDED 30 APRIL 2024**_
The Trustees present their annual report and financial statements for the year ended 30 April 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note to the financial statements and comply with the Trust's [governing document], the Charities Act 2011 and "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 (FRS 102)" (effective 1 January 2019).
## **Objective and activities**
The charity's objects and principal activities are set out in the Trust declaration in 1979 and Deed of variation dated 4 May 2018 (amended on 06 April 2023) i.e. "The Trustees shall stand possessed of the Trust fund upon trust for the charitable purposes as they shall in their absolute discretion think fit and in particular for the advancement of education and for the relief of poverty and sickness." The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the year. There has been no change in these during the year.
The Trust provides grants in the UK as well as in other countries. This year the board have focussed on supporting schools in the UK, and on enhancing community cohesion in the local communities in UK. In all its endeavours, the Trust actively looks out for partnerships with other organisations that have similar objects for public benefit.
## **Activities to achieve the objectives for public benefit** :
Advancement of Education: In the context of rising living costs in UK, and consequent strain on family finances affecting school pupils, the Trust has made Financial Grants to several schools to support various amenities such as breakfast meals, school uniforms, school trips, bus passes etc. The Trust is actively looking to increase the number of schools needing such support. A Human Values Day was celebrated in April 2024 in which over 300 delegates participated; representatives from about 20 charities with which the Trust works in collaboration joined in these celebrations. Shared Values such
**SRI SATHYA SAI CHARITABLE TRUST UK**
## **TRUSTEES REPORT**
## _**FOR THE YEAR ENDED 30 APRIL 2024**_
as compassionate service, mutual respect, tolerance, and various community-based service projects were showcased and promoted at this event.
Relief of Poverty: The Trust has given Financial Grants to support the homeless, refugees, and various foodbanks in different parts of UK in collaboration with other charity organisations. An initiative in Turkey aimed at supporting livelihoods of people living in a remote area, through the plantation of walnut fruit trees, was extended a financial grant in collaboration with another UK charity. Grants were given to upgrade accommodation facilities for volunteers who serve free of cost at the hospice, animal welfare sanctuary, foodbank, and sustainable woodland projects run by the Skanda Vale Interfaith Monastery in Wales.
Relief of Sickness: Donations were sent to Sri Sathya Sai Central Trust in India to support its free of cost hospitals. A Grant was made to conduct a Wellbeing workshop in UK. Grants were given to upgrade the Animal Welfare Sanctuary and the sustainable, clean energy Solar project at Skanda Vale.
These grants are made from the donations held in the Trust. All donations were made on a voluntary basis only. No public appeals were made. The Trust makes Grants to activities that align with its Objects, and those of the donors when specified. There are thus several restricted fund accounts, maintained together with the premium reserve account and other current accounts which are unrestricted. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake.
## **Grant making policy and monitoring achievement**
The Trust has adopted a standard form for grant applicants to complete. This outlines the benefits of the proposed activity. The Trust also seeks a feedback report on the activity to confirm it was carried out and what benefits were derived. This process facilitates the discussion of grant making within the Trust meetings. The Trust does not borrow money and therefore will only make grants if it has the assets to do so. Funds received for specific purposes are utilised for specific projects. The Trust reviews its achievements and performance within its Trust meetings.
## **SRI SATHYA SAI CHARITABLE TRUST UK**
## **TRUSTEES REPORT**
## _**FOR THE YEAR ENDED 30 APRIL 2024**_
Apart from the above, the operational area of the Trust is to run the bookshop through the subsidiary undertaking, Sri Sathya Sai Books (UK) Ltd, which supports the charity's aims by promoting educational and spiritual literature. The operational decisions are made by the bookshop directors and the Management Team of the subsidiary company and significant reports are made to the trustees.
## **Achievements and performances**
## **How our grant programmes deliver public benefit:**
The charity Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties.
## **Financial Review**
Funds received for specific purposes are utilised for specific projects.
It is the policy of the Trust that unrestricted funds which have not been designated for a specific use are maintained at a level as projected. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Trust’s current activities while consideration is given to ways in which additional funds may be raised e.g. moving funds into higher interest-bearing accounts. This level of reserves has been maintained throughout the year.
The principal sources of income were voluntary donations to the Trust. Expenditure has been entirely aligned to the three objectives of the Trust.
During the year the Trust received donations of £61,047(2023 - £74,579) and investment and other income of £17,278 (2023 - £15,086).
During the year the Trust made donations of £206,628 (2023 - £112,513).
The Trustees have assessed the major risks to which the Trust is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
**Principal risks and uncertainties**
**SRI SATHYA SAI CHARITABLE TRUST UK**
## **TRUSTEES REPORT**
## _**FOR THE YEAR ENDED 30 APRIL 2024**_
The Trust has a very conservative, risk free approach on investments and hence the funds are kept in current accounts and interest-bearing accounts either within its main bank or another bank within the UK. It holds the one and only share in its subsidiary, the Bookshop. The Trust has debated whether to become limited by guarantee. It sought the guidance of legal and financial professionals in ensuring it made the best decision and this is currently under review. There is Trustee indemnity insurance in place. There is no mortgage or other loan on the property owned by the Trust, (Hay Lane bookshop) with appropriate insurance in place for the building.
The major risks to which the charity is exposed, as identified by the Trustees, have been reviewed and systems have been established to manage those risks. Advice is regularly taken from the solicitor and the insurance adviser.
## **Plans for the future**
The Trust continues to support a diverse range of applications for grants that meet the Trust objectives such as disaster relief, medical, educational and relief of hunger needs in the UK, Nepal, Sri Lanka, India etc.
On 24th April 2011, the Founder of the Trust, Sri Sathya Sai Baba passed away in India. Since his passing, activities that are based on his message of “Love All Serve All" have increased in the UK and all over the world.
The Trust is actively looking for a site or a suitable building with grounds in a central location in UK to further spread Sri Sathya Sai Baba's universal message. It is anticipated that the building will incorporate a multipurpose community hall, a museum, a library and bookshop and provide ample parking with excellent public transport links.
## **Cementing partnerships with strategic alliances**
The Trust continues to strengthen its existing partnerships and collaborations with various organisation in the UK which are aligned to its objects and looks to develop further new ones. The Trust believes in bringing people together to make a difference in our local communities, and hence looks actively for opportunities to build bridges.
**Structure, governance and management**
**SRI SATHYA SAI CHARITABLE TRUST UK**
## **TRUSTEES REPORT**
## _**FOR THE YEAR ENDED 30 APRIL 2024**_
The Trust is a registered charity, number 278481, and is constituted under a Trust Deed dated 15th June 1979 and Deed of variation dated 6[th] April 2023 which is the governing document. This was first established as the Sri Sathya Sai World Foundation U.K., but the Trust changed its name on 25th May 1999 to Sri Sathya Sai Charitable Trust UK.
The Charity has a wholly owned subsidiary Sri Sathya Sai Books (UK) Limited which is incorporated in the UK. The principal activity of the subsidiary during the year was that of selling books, audios, DVDs and video cassettes. The subsidiary supports the charity aims by promoting educational and spiritual literature. It covenants its surplus / deficit to Sri Sathya Sai Charitable Trust UK. Sri Sathya Sai Books (UK) Limited is run entirely by unpaid volunteers.
The Trustees who served during the year and up to the date of signature of the financial statements were:
Dr. Venkata Mudigonda
Dr. Kirankumar Patel Professor Jagannadha Pawan Tamvada Mr. Khushal Jethwani
Miss. Subothini Gunasegaram Mr. Rajiv Kundra – appointed 10/11/2023
New Trustees are appointed by the Trustees after receiving nominations. Invitation is by letter asking Trustees to serve for a fixed term. After this period, they may offer themselves for re-appointment. The practical requirement for the selection of new Trustees is that they have considerable experience in some or all the areas of:
(i) education
(ii) medical
(iii) financial
(iv) legal.
On appointment, new Trustees confirm their appointment and commit their time and expertise to serve the Trust. There is no formal requirement for training of Trustees. All Trustees perform their duties on a voluntary basis and no remuneration or personal expenses are paid to any of the Board members.
**SRI SATHYA SAI CHARITABLE TRUST UK**
## **TRUSTEES REPORT**
## _**FOR THE YEAR ENDED 30 APRIL 2024**_
There are approximately four face to face ordinary meetings of the Trust per year with many others conducted by video conference. The Trustees agree the broad strategy and areas of activity at these meetings, consider grant making and risk management. The Trust receives requests for grants from various quarters, and consideration is given to each request based on its merits and objectives. A Trust meeting is considered quorate if at least three Trustees are present.
## **Organisation Structure**
The Trust has three official posts - the Chairman, the Treasurer and the Secretary. Governance and Management are as described above. It is the Chairman's responsibility to ensure the Trustees meet regularly. There is a limit of seven on the total number of Trustees on the Board.
## **Related parties**
The Charity works with other charities / organisations whose objects are aligned to it.
## **Statement of Trustees responsibilities**
The Trustees are responsible for preparing the Trustees Report and the accounts 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 accounts for each financial year which give a true and fair view of the state of affairs of the Trust and of the incoming resources and application of resources of the Trust for that year.
In preparing these accounts, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and
- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
**SRI SATHYA SAI CHARITABLE TRUST UK**
## **TRUSTEES REPORT**
## _**FOR THE YEAR ENDED 30 APRIL 2024**_
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
The Trustees report was approved by the Board of Trustees.
Signed:
Dr. Venkata Mudigonda Chairman
Date: 28 February 2025
**SRI SATHYA SAI CHARITABLE TRUST ( UK) 278481**
**Receipts and payments accounts For the period 1-May-23 30-Apr-24 To from**
**CC16a**
## **Section A Receipts and payments**
|**Section A Receipts and payments**|**Section A Receipts and payments**|||||
|---|---|---|---|---|---|
|**A1 Receipts**
**Donations Received**
**15,386**
**Rental Income**
**10,800**
**Bank Interest**
**6,478**
**_**
**-**
**-**
**-**
**-**
**32,664**
**Unrestricted**
**funds**
**to the nearest £**
**_Sub total_**_(Gross income for AR)_||**to the nearest £**
**45,660**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**45,660**
**Restricted**
**funds**|**to the nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Endowment**
**funds**|**Total funds**
**to the nearest £**
**61,046**
**10,800**
**6,478**
**-**
**-**
**-**
**-**
**78,324**|**Last year**
**to the nearest £**|
|**Donations Received**|**15,386**|**45,660**|**-**|**61,046**|**72,190**|
|**Rental Income**|**10,800**|**-**|**-**|**10,800**|**10,800**|
|**Bank Interest**|**6,478**|**-**|**-**|**6,478**|**6,674**|
||**_**|**-**|**-**||**-**|
||**-**|**-**|**-**|**-**|**-**|
||**-**|**-**|**-**|**-**|**-**|
||**-**|**-**|**-**|**-**|**-**|
||**-**|**-**|**-**|**-**|**-**|
|**_Sub total_**_(Gross income for AR)_|**32,664**
|**45,660**|**-**|**78,324**|**89,664**|
|-
-
_Sub total_-
_Total receipts_ **32,664**
**A2 Asset and investment**
**sales, (see table).**||-
-
-
**45,660**|-
-
-
**-**|-
-
-
**78,324**||
|||||||
||||||-|
||||||-|
|||||||
|||**45,660**|**-**|**78,324**|89,664|
|**_Sub total_**_(Gross income for AR)_|**32,664**
||**45,660**||**-**||**78,324**||**89,664**||
|---|---|---|---|---|---|---|---|---|---|---|
|**A2 Asset and investment**|||||||||||
|**sales, (see table).**|||||||||||
||-||-||-||-||||
||-||-||-||-||-||
|_Sub total_|-||-||-||-||-||
||||||||||||
|_Total receipts_|**32,664**||**45,660**||**-**||**78,324**||89,664||
|A3Payments
**Donations made**
**206,628**
**Administration Expenses**
**30,580**
**Bank Charges**
**290**
**-**
**-**
**-**
**-**
**-**
**-**|A3Payments
**Donations made**
**206,628**
**Administration Expenses**
**30,580**
**Bank Charges**
**290**
**-**
**-**
**-**
**-**
**-**
**-**|**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**206,628**
**30,580**
**290**
**-**
**-**
**-**
**-**
**-**
**-**||
|---|---|---|---|---|---|
|**Donations made**|**206,628**|**-**|**-**|**206,628**|112,513|
|**Administration Expenses**|**30,580**|**-**|**-**|**30,580**|9,023|
|**Bank Charges**|**290**|**-**|**-**|**290**|263|
||**-**|**-**|**-**|**-**|-|
||**-**|**-**|**-**|**-**|-|
||**-**|**-**|**-**|**-**|-|
||**-**|**-**|**-**|**-**|-|
||**-**|**-**|**-**|**-**|-|
||**-**|**-**|**-**|**-**|-|
|_Sub total_ **237,498**
-
-
_Sub total_ -
_Total payments_ **237,498**
_Net of receipts/(payments)_ **- 204,834**
A5 Transfers between funds
**-**
A6 Cash funds last year end
**-**
_Cash funds this year end_ **- 204,834**
A4 Asset and investment
purchases, (see table)|**-**|**-**|**237,498**|121,799|
|---|---|---|---|---|
||||||
||-
-
-|-
-
-|-
-
-|-|
||||||
||**-**|**-**|**237,498**|121,799|
||||||
||**45,660**
**-**
**-**
**45,660**|**-**
**-**
**-**
**-**|**- 159,174**
**-**
**-**
**- 159,174**|- 32,135
-
-
- 32,135|
Section B Statement of assets and liabilities at the end of the period
|**Categories**|**Details**|**to nearest £**
**Unrestricted**
**funds**|**to nearest £**
**Unrestricted**
**funds**|**to nearest £**
**Restricted**
**funds**|**to nearest £**
**Restricted**
**funds**|**to nearest £**
**Endowment**
**funds**|
|---|---|---|---|---|---|---|
|B1 Cash funds|**Bank Balances**|**1,090,696**||**1,570,658**||-|
|||-||-||-|
|||-||-||-|
|||**1,090,696**
||**1,570,658**
||**-**|
|B2 Other monetary assets
B3 Investment assets
**B4 Assets retained for the**
**charity’s own use**|**Details**
**Trade & Other Recievables**
**Details**
**Details**
**Propertty Plant & Machinery**
**(agree balances with receipts**
**and payments account(s))**|**to nearest £**
**41,013**
-
-
-
-
-
**Unrestricted**
~~**Agreement**~~
**Error**
**Unrestricted**
**funds**
**Fund to which**
**asset belongs**
**Fund to which**
**asset belongs**||**to nearest £**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
~~**Agreement**~~
**Error**
**Restricted**
**funds**
**Cost**
**(optional)**
**Cost**
**(optional)**||**OK**|
|||||||**to nearest £**
**Endowment**
**funds**|
|||||||-|
|||||||-|
|||||||-|
|||||||-|
|||||||-|
|||||||-|
|||||||**Current**
**value**
~~**(optional)**~~|
|||||||-
|
|||||||-|
|||||||-|
|||||||-|
|||||||-|
|||||||**Current**
**value**
~~**(optional)**~~|
||**Propertty Plant & Machinery**|**Unrestricted**|||||
|||||-||-|
|||||-||-|
|||||-||-|
|||||-||-|
|-||-|
|---|---|---|
|-||-|
|-||-|
|-||-|
## **B5 Liabilities**
**Fund to which Amount due When due Details liability (optional) (optional)** ~~**relates**~~ **Trade Crediors and Unrestricted** ~~**Recei ables**~~ - - - -
**Signed by one or two trustees on behalf of all the trustees**
**----- Start of picture text -----**
Date of
Signature Print Name
approval
DR VENKATA MUDIGONDA 28-Feb-25
DR KIRANKUMAR PATEL
28-Feb-25
**----- End of picture text -----**
CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examiner's
report on the accounts
Section A
Independent Examiner's Report
Report to the trusteosl
members of
s£1 ShTrfy* SAI CH1T&6LÉ T£T L)K
On accounts for the year
ended
Charity no
(if any)
30 *PAIL 20
248+8 1
Set out on pages
L 40 3
I report to the trustees on my examination of the accounts of the above
charity Ilhe Trust") for the year ended 30 04 lout.
Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation
basis of report of the accounts in accordance with the requirements of the Charities Act
2011 ("the ACV).
I report in respect of my examination of the Trust's accounts carried out
under section 145 of the 2011 Act and in carrying out my examination, I
have followed the applicable Directions given by the Charity Commission
under section 145(5)Ib) of the Act.
I have completed my examination. I confimi that no material matters have
come to my attenlion I
) in connection with
the examination which gives me cause lo believe that in, any material
respect..
accounting records were nol kept in accordance with section 130 of
the Act or
the accounts do not accord with the accounting records
Independent
examiner's statement
I have no concerns and have come across no other matters in connection
wilh the examination to wPiich attention should be drawn in order to enable a
pro
er understandirw6f the accounts lo be reached.
se delete
words in t
brackets if they do not apply.
Signed:
Date:
z¥
Name".
Relevant professional
qualificationlsl or body
{if any):
ACC
Address:
Ai hJJQCH4
3+
U6EhJs8
AwDJ T 3 Co L1fv71TED
gThf/DN R
rfhg sfiJNJ .
IER
October 2018
Section B
Disclosure
Only complete if the examiner needs lo highlight matters of concern (see CC32,
Independent examination of charity accounls.. directions and guidance for
examiners).
Give here briaf details of
any iterns that Ihe
examiner wishes to
disclose.
IER
October 2018