Charlty registration number 328678 THE LADUMA DHAMECHA CHARITABLE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE LADUMA DHAMECHA CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr S R Dhamecha Mr P K Dhamecha Mr M S Dhamecha Charlty number 328678 Prlnclpal addr•8S 2 Hathaway C108e Stanmore Mlddlesex HA7 3NR Audltor8 KLSA LLP Kalamu House 11 Coldbalh Square London EC1R 5HL 8ankarn Barclay8 Bank PIC Acom House 36138 Park Royal Road London NW10 7JA
THE LADUMA DHAMECHA CHARITABLE TRUST CONTENTS Page Trustees, report Ststement of trustees, responsibllitles Independent auditoV8 report Statement of financlal actlvStles Balance sheet ststement of cash fl¢)w8 Notes to the financial statements 10-17
THE LADUMA DHAMECHA CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financlal statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Igoverning documentl, the Chgrities Act 2011 and "Accounting and Reporting by Charities.. Stalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffeclive 1 January 2019). ObJectlve8 and actlvltles Thé alms of the trust are to provld8 the following: To provide relief for sickness by provi8lon of medlclnes and medlcal aquipment andlor Improvlng th8 facilities al the h05pilals as Ihe trustees detemiine. - To provlde for the advancement of education andlor educational establlshmenl In rural areas so as lo make children self sufficient in the longer lerm Such other charitable purposes as Ihe Iruslees shall detefftiine. The trustees have pald due regard to guidance 165ued by the Charfty Commlsglon In declding what actlvities the charity should undertake. Achlevements and perfornance DuTlng the year the Trust received general donatlons of £2,120,000 (2023.. £1,810,000). The trust had don81ed total of £1,624,314 {2023: £1,596,797) for various charftable actlvltles durlng the year, The trustees wish to express Ihelr gratltude for the donations received. Flnanclal revlew The finan¢lal controls of the trust are managed and controlled by the Trustees without any remuneratlon. Reserves pollcy It is the policy of the trustees at all tlmes to mabntaln sufficlent reserves In cash or cash funds lo meet all future commitments in full. The tr4JStee5 monltor the level of reserves at periodic Inteal8. All funds held are unreslricted. Risk management The trustees have assessed the major risks to which the charlty is exposed, and are satlsfièd that systems are In place to mitigate exposure to the major nsks. The principal risks to which the Charlty Is exposed are consldered to be: Credit risk Currency risk Interest rate rfsk Other price risk Plans for future periods Plans for the future The charity plan5 to continue the activities outlined above in the forthcomlng years as the trustees shall detemine. Structure, governance and management The Laduma Dhamecha Charftable Trusl is governed by the Trust Deed dated 23 March 1990 for general purpose and the charity registration number 328678. The charlty consists of three trustees who manage the activities of the fund.
THE LADUMA DHAMECHA CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The trustees who served during the year were.. Mr S R Dhamecha Mr P K Dhamecha Mr M S Dhamecha Tru8tees tralnlng and recrultment When appointlng new Trustees to the charity, the 8oard of Trustees conslder the skills, knowledge and experlence of the individual in making the appointment. All Twstees have been allocated an area of responslbllSty whlch, where possible, is in accordance wlth their skllls and expertence. Volunteern The volunteers are Involved In general management and core actlvltles of the Charlty. The Trustees would like to acknowledge the tremendou5 effort8 of the volunteers and the many 8UPPOrters of th Charlty for their continuou8 SUPPOrt In helplng the Charity to achieve Its oblectlves. trustees, rep pproved e Board of tees. r P K Dhamecha Tru8tee 20 August 2024
THE LADUMA DHAMECHA CHARITABLE TRUST STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees are responsible for preparing the Trustees, Report and the financial ststements In accordance with applicable law and Unlted Klngdom Accounting Stsndards (Uniied Kingdom Generally Accepted Accounting Practice). The law appllcable to charities in England and Wales requires the trustees to prepare financial ststements for each financial year which give a true and fair view of the state of affairs of the charlty and of the incomlng resourc6s and application of resources of the charlty for that year. In prepartng these financial statements, the trustees are requlred to: - select suitable accounting policies and then apply them consistently., - obseTve the methods and prlnclple$ in the Charities SORP; make Judgements and estimates that are reasonable and pwdent., state whether applicable accountlng standards have been followed, subject to any material departures disclosed and explained In the financlal Statements. and prepare the financlal statement8 on the golng concem basis unless it is inappropriate to presume that the charity wlll contlnue In operation. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial posllion of the charity and enable them to ensure that the financial statements comply wlth the Charities Act 2011, the Charity (Accounts and Reports) Regulatlon8 2008 and the provislons of the trust deed. They are also responsible for 58fegu8rdlng the assets of the ch8rlty and hence for taklng reasonable steps for the prevention and detection of fraud and other irregularities.
THE LADUMA DHAMECHA CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE LADUMA DHAMECHA CHARITABLE TRUST Opinlon We have audited the financial statements of The Laduma Dhametha Charitable Trust (the 'charity'l for the year ended 31 March 2024 which comprise Ihe statement of financial activitles, the balance sheet, the statement of cash flows and notes to the financlal statements, including signlficant accounting policles. The financlal reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standa1 applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practlce). In our opinion, the financlal statements.. glve a true and fair view of the state of the charity's affair8 as at 31 March 2024 and of Its Incoming resources and appllcation of resource5, for the year then ended., have been properfy prepared In acGord8nce wlth United Klngdom Generally Accepted Accounting Practlce. and have been prepared In accordance wlih the requirements of the Charfties Act 2011. Bas18 for oplnlon We conducted our audit in accordance with Intematlonal Standards on Audltlng (UK) IISAS (UKI) and applicable law. Our responsibilitleB under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are Independent of the charity In accordarbce wilh the ethical requlrements that are relevant to our audit of the financlal staternents in the UK, including the FRC'S Ethical standard, and we have fulfilled our other ethlcal responsibililles in accordance with these requirements. We believe that the audit evldence we h8ve obtalned is sufficient and appropriate to provide a basls for our oplnion. Conclu81ons relatlng to going concern In audlllng the financial statements, we have concluded that the trustees, use of the golng concern basi5 of accounting in the preparats'on of Ihe financlal statements is appropriate. Based on the work we have perfomied, we have not Identified any material uncertalntles relatlng to events or conditions that, individually or collectively, may cast slgnificant doubt on the charity's ability to continue as a going concem for a period of al least tsvelve months from when the financial statements are authorlsed for issue. Our responslbilities and the responslbilrtles of the trustees with respect to golng concem are described In the relevant sectlons of this report. Other Informatlon The olher infomialion comprlses the Infomiatlon Included in the annual report other than the financlal statements and our auditor's report Ihereon. The trustees are responsible for the other Information conlalned within the annual report. Our opinlon on the financial statements does not cover the other infomialion and, except to the extent otheiSe explicitly slated in our report, we do not express any fomi of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other Information is materially Inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appear5 to be materially misstated. If we idenlify such material inconslstencies or apparent material misslatemenls, we are required to determine whether this gtves rise lo a materlal misstatement in the financlal statements themselves. If, based on the work we have perfomied, we conclude that there18 a material misstatement of th15 Other information, we are required to report that fact. We have nothing to report in this regard.
THE LADUMA DHAMECHA CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE LADUMA DHAMECHA CHARITABLE TRUST Matters on whlch we are requlred to report by exception We have nothing to report in respect of the following matter5 In relation to which the Charlties (Accounts and Reports) Regulations 2008 require us to report to you if, in our oplnlon: the informats'on given in the financial statements Is inconsistent In any material respect with the trustees, report: or sufficient accounting records have not been kept,. or the financial slatements are not In agreement with the accounting records.. or we have not received all the Information and explanations we require for our audit. Responsibilltles of trustees As explained more fully in the statement of trustees, responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such inteinal control as the trustees determine is necessary to enable the preparation of financi81 statements Ihat are free from materlal misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to contlnue as a going concern, disclosing, as applicable, matters related to golng concern and using the going concern basis of accounting unless the trustees either intend to cease operalions. or have no reallstl¢ alternallve but to do so, Audltor'8 re8ponslbllltl•i for th• audSt of the flnanclal 8tatementg We have been appointed as auditor under s8Ction 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulatlon8 made or havlng effect thereunder. Our objectlves are to obtain reasonable assurance about whether the financlal statements as a whole are free from mater181 mlsstatement, whether due to fraud OT error, and to issue an audStols r8POrt that includes our opinlon. Reasonable assurance Is a hlgh level of assurance but is not a guarantee that an audit conducted In accordance with ISAS (UK) will always detect a material misstatement when It exists. Misstatements can arise from fraud or error and are considered material if, individualty or In the aggregate, Ihey could reasonably be expected to influence the economlc decisions of users taken on the basls of these financial statements. Irregularities, includlng fraud, are Instanc8s of non-compliance wlth laws and regulations, We design procedures In line with our responsibilities, outlined above, to delect material misstatements in respect of Irregularities, includlng fraud. The extent to which our procedures are capable of detectlng Irregularities, Including fraud, Is detailed below: Our approach to identifying and assessing the rlsks of materlal misstatement In respect of Irregularitles, including fraud and non-compliance with laws and regulations, was as follows.. the engagement partner ensured Ihat the engagement team collecllvely had the appropriate competence, capabilities and skllls to identify or recognise non-compliance with applicable laws and regulations., we identified the laws and regulations applicable to the charlty through discussions with director5 and olher management, and from our commercial knowledge and experience of the sector., and we focused on speclfic laws and regulations which we considered may have a direct material effect on the operations of the charlty financial slatements or the operations of the charity, includlng the Charities Act 2011, data protection, anti-bribery, environmental and health and safety legislation.
THE LADUMA DHAMECHA CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE LADUMA DHAMECHA CHARITABLE TRUST We assessed the susceptibility of the Charivs financial ststements to material misstatement, induding obtalning an understanding of how fraud might occur, by: making enquiries of rnanagement as to where they considered there was susceptibilty to fraud, their knowledge of actual, suspected and alleged fraud., and considering the internal controls In place to mitigate risks of fraud and non-compllance wlth laws and regulations. To address the risk of fraud through management bias and override of controls, we: performed analytical procedures to identify any unusual or unexpected relation$hlps' tested journal entries to identify unusual transactlons; carrled out a review of the investments acquired and dlsposed durlng the year ensurlng transactlons were at arm'818ngth. Investigated the ratlonale behind significanl or unusual transactions, Verifled donatlons to the agreements held and to the 8UPPOrtlng receipls. In response to the risk of irregularitles and non-compliance wlth law6 and regulations, we designed procedures which included, but were not limited to.. agreeing financlal statement disclosures to underlying supportlng documentatlon., enqulrlng of management as to actual and potentlal Iltlgatlon and claims. There are inherent limitations in the Budit procedures descrlbed above; any instance of non-compliance with lav and regulations and fraud whlch is far removed from transaction8 reflected In the financial slatements would diminish the likelihood of delecllon. Furthermore, the risk of not detecting a material misstatement due to fraud is greater than the risk of not detecting one resutting from error. Fraud may Involve dellberate concealment by, for example, forgery or intentional mlsrepresentation, or through an act of collusion that would miligale intemal controls .A further descriptlon of our responsibllltles for the audit of the financial statemenls is located on the website of the Flnancial Reporting Council at.. http.'IAvMv.fr¢.org.ukl auditorsresponslbllltles. This descrlption forms part of our audilor's report. A further descriptlon of our responslbilltles Is avallable on the Flnanclal Reportlng Councll's website at- https:11 www.frc.org.uklaudilorsresponsibilities. This description fomis part of our auditor's Teport. Use of our report Thls report Is made solety to the Charltys trustees. as a body, in accordance wth section 144 of the Charlties Act 2011 and the regulations made under section 154 of thal Act. Our audit work has been undertaken so that we might state to the Charity's trustees Ihose matters we are reqUId to state to them in an auditor's report and for no other Purpose. To the fullest extent permitted by law, we do nol accept or assume responsibility 10 anyone other than the Charity's trustees as a body, for our audit work, for this pOrt, or for the opinions we have fomied. Shllpa Chheda (Senior Statutory Auditor) for and on behall of KLSA LLP 20August 2024 Chartered Accountant5 statutory Audltor Kalamu House 11 Coldbath Square London EC1R 5HL
THE LADUMA DHAMECHA CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 Unrestricted funds 2023 Notes Income trom: Donations Inveslment8 2,120,000 386,203 1,810,000 142,281 Total Income 2,506,203 1.952.281 Exp•ndltur• on: Charila le le Donations Govemance Costs 1,624,314 3,121 1,596.797 10.964 Total charltable expendlture 1,627,435 1,607,761 Total expendlture 1,627,435 1,607,761 Net gainsl(Iosses) on Investments 10 (60,204> 278,950 Net Income and movement In fund8 818,584 823,470 Roconclllatlon of funds: Fund balances at 1 Aprll 2023 3,504,869 2,881,399 Fund balance8 at 31 March 2024 4,323,433 3,504,869 The statement of financial activities includes all gain8 and108ses recognlsed in the year. All Incom8 and expendlture derive from conts'nulng actlvlties.
THE LADUMA DHAMECHA CHARITABLE TRUST BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Flxed assetg Investrnents Current assets Cash at bank and in hand 12 2,927,585 1,787,789 1,396.628 1,717,860 Credltorg: amount• falllng due wlthln one year 13 (780) (780) Net current assets 1,395,848 1,717,080 Total a•••ts l•¥• ¢urr•nt Ilabllltles 4,323,433 3,504,889 Income funds Unrestricted hjnds 4,323,433 3,504,889 4,323,433 3,504.869 n¢ial state s behalf by.. enl ppro ed by the trustees and authorised for issue on 20 August 2024 and are signed Dhamecha Tru8toe
THE LADUMA DHAMECHA CHARITABLE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Note• Cash flows from operatlng actlvlties Cash generated from operations 492,565 202,239 Investlng actlvltles Purchase of investments Proceeds from di5P05al of investments Investment income recelved (1,200,000) (1,500,000) 2,490,752 142,281 386,203 Net cagh (used inllgenerated from Investlng actlvltl88 (813,7971 1,133,033 Net cash used In Ilnanclng a¢tlvltle• Net {decroasolllncrea88 In cash and c4•h equlvalentj (321,232) 1,335,272 Cash and cash equlvalents at beglnnlng of year 1,717,860 382,588 Cash and ca8h equlvalont8 at ond of year 1,396,628 1,717,880
THE LADUMA DHAMECHA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles 1.1 Accountlng convention The financial statements have been prepared in accordance with the charity's Igoverning documenll, the Charities Act 2011, FRS 102 'The Financial Reportlng Standard applicable in the UK and Republic of Ireland. I"FRS 102,1 and the Charilies SORP 'Accounting and Reporting by Charities." Statement of Recommended Practice applicable to charities preparing thelr accounts in accordance with the Financlal Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102)" (effectsve 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The financial slatements are prepared in sterflng, which is the functlonal Curren of the charity. Monetsry amounts in these financlal slatements are Tounded to the nearest £. The 8ccounts have been prepared under the hlstorical cost convention modlfied to Include the market value of Investments. The princip81 accountlng policies adopted are set out below. 1.2 Golng concern At the tlme of approvlng the financial statements, the tTUStee5 have 8 reasonable expectation that the charity has adequate resources to contlnue in operatlonal existence for the foreseeable future. Thu5 the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use al the dlscretion of the trustees in furtherance of their charitable objectives. 1.4 Income Donation5 and other Income are accounted Into the accounts on a recelved basis. Income from equities and any pooled investment vehicles whlch dlstribute income, is accounted for on an accruals basis on the date stocks are quoted ex-dividend, or in the case of unquoted Instruments, when the dividend is dedared. Income from other investments are accounted for on an accruals basls. Valuatlon and classlflcatlon of Invèstments Investment assets and liabllities are included in the finandal statements at falr value. Vthere separate bid and offer prices are avallable, the bid prlce Is used for investment assels and the offer price for Investment liabllities. Othemlse, the closing single price, Single deallng price or most recent transactlon price is used. Imiere quoted or other unit prices are not available. the Trustees adopt valuation lechniques appropriate to the class of investment. Delails of the valuation techniques and principal assumption5 are given in the notes to the financial statements where used. The methods of determining fair value for the principal classes of investments are.. Equities and certain pooled investment vehlcles which are traded on an active market are induded at the quoted price, which is normally the bid price. Unitised pooled investment vehicles which are not traded on an active market but where the manager is able to demonstrate that they are priced daily, weekly or at each month end, and are actualty traded on substsntially all pricing days are Induded at the last price provided by the manager at or before the year end. 1.5 Expendituro Expenditure is recognised when It15 Incurred. 10
THE LADUMA DHAMECHA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollclos (Contlnued) 1.6 Flxed assot Invostmonts Fixed ass6t Investments are initialty measured al transactlon prlce excluding trans8Ction costs, and are subsequenlly measured at fair value at each reporting date. Changes in fair value are recognised in net incomel{expenditurel for the year. Transaction costs are expensed as incurred. 1.7 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposlts held at call with banks and other short-term liquld Investments with orlglnal maturities of three months or less. Baslc flnanclal assets Basic financial assets, which Include debtors and cash and bank balances, are InStially measured al transactlon price Including transaction costs and are subsequently carried at 8mort15ed cost using the effective Interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the fulure receipts discounted at a market rate of inlerest. Financlal assets classified a5 receivable within one year are not amortised. 1.8 Forelgn exchange Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevaillng at the dates of the transactions. At each reporting end date, monetary assets and liabilltles that are denominated in foreign currencles are retranslated at the rates prevailing on the reporting end date. Gains and losses ari51ng on translation are included In net incomel(expendilure) for the period. 1.9 Taxatlon The trust is a reglstered charlty and accordingty is exempt from taxatlon on Its Income and gain where they are 8pplied for charltable purpose5. Crltlcal accountlng ostlmateg and Judgemen18 In the application of the charity's accountlng policies, the trustees are requlred to make ludgements, estlmates and assumptions about the carrying amount of assets and liabilitles that are not readily apparent from other sources. The estimates and as8OCl8ted assumptions are based on historical experfence and other factors Ihat are consldered to be relevant. Aclu81 results may dlffer from these estimates. The estimates and underlying assumptlons are reviewed on an ongoing basis. Revisions to accountlng eslimales Bre recognised in the period In whlch the estimate Is revised where the revision affects only thal period, or In the period of the revlsion and future perlods where the revision affects both current and future perlods. Incom0 from donatlons Unrestricted Unreslrlcted funds lunds 2024 2023 Donations and g1ft5 2,120.000 1,810.000 11
THE LADUMA DHAMECHA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from Invèstments Unrestricted Unréstricted funds funds 2024 2023 Income from divldends Interest receivable 373.210 12,993 137,487 4.794 386,203 142,281 Income comprises of dividends recelved durlng the year from Equity - quoted shares and structured note8. Expendlture on charllable actlvllles Donatlon8 Govemance Costs 2024 Total Donatlon• Governance Costs 2023 Total 2024 2024 2023 2023 Dlrect costs Donatlons- UK Donallons- Non UK 382,209 1,242,105 382,209 1,242,105 479,728 1,117,069 479,728 1,117,069 1,624,314 1,624,314 1,596,797 1,596,797 Share ol 8UPPOrt and governance costs Isoo note 6) Governance 3,121 3,121 10,964 10,964 1,624,314 3.121 1.627,435 1,596,797 10,964 1,607,761 Analy81* by fund Unr88trlcted funds 1,624,314 3,121 1,627,435 1,596,797 10,964 1,607,761 Support costs allocated to actlvllleg 2024 2023 Governance costs 3,121 10,964 2024 2023 Governance costs comprise: Audit fees Bank charges 1,470 1,651 954 10,010 3,121 10,964 12
THE LADUMA DHAMECHA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Net movement in funds 2024 2023 The net movement in funds is staled after chargingl(credttlng): Fees payable for the audit of the chartys financial st8tements 1,470 954 Tru8tees None of the trustees lor any persons conneded wlth them) received any remuneration or reimbursed for expenses durlng the year, Employee8 The average monthly number ofemployees during the year was: 2024 Number 2023 Number Total There were no employees whose annual remuneration wa5 rnore than £60,000, 10 Galn• ond108808 on Inve•tment8 Unragtrlcted Unrè8trlcted funds funds 2024 2023 Gain81(1088esl arlslng on.. Revaluation of investments Sale of Investments (60,204) (113,568) 392,518 (60,204) 278.950 11 Taxatlon The charity is exempt from taxatlon on its activilie5 because all fts income Is epplied for charitable purposes. 13-
THE LADUMA DHAMECHA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Flxéd asset Inveslments Llsted Investments Structured Notes Total Cost or valuatlon At 1 April 2023 Additions Valuation changes 287,789 1,500,000 1,200,000 1,787,789 1,200,000 (60,204) (60,204) At 31 March 2024 227,58S 2,700,000 2,927,585 Carrylng amount At 31 March 2024 227,585 2,700,000 2,927,585 At 31 March 2023 287,789 1,500,000 1,787,789 The total purchases durlng the year were £1,200,000 (2023: £1,500,000). The change In market Value of the investments during the year compri585 of all increases and decreases In the market value of investrnents held at any tlme during the year, Indudlng profits and losses realised on sale on investments during the year. Please See note 15 for details. 13 Credltors: amounts falllng due wlthln one year 2024 2023 Accruals and deferred Income 780 780 14 Unrestrfcted funds The unrestricted funds of the charity comprlse the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These Include designated funds which have been Set aside out of unrestrlcted funds by the trustees for specific purposes. At l Aprll 2023 Incoming resources Resources expended Gaing and At 31 March losses 2024 General funds 3,504,869 2,506,203 (1,627,435) (60,204) 4,323,433 Previous year: At 1 April 2022 Incomlng resources Resources oxpended Gaing and At 31 March losses 2023 General fund5 2,881,399 1,952,281 (1,607,761) 278,950 3,504,869 14-
THE LADUMA DHAMECHA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Fair value of investments The falr value of investments has been detemiined uslng the followlng hierarchy Category la)- Where there is a quoted prlce for an Identical asset in an active market at the reportlng date Category (bl- Wiere quoted prlces are not avallable and recenl tran5actlon5 of an Identlcal asset on their own are elther unavailable or not a good estimate of fair value and therefore valuallon technique$ are employed using obseNable market dats or non-obsepiable data The Chadty Investment assets and liabilities have been included at fair value within these calegories for the year ending 31 March 2024 are as follows: Cate ui Quoted Shares Structured Notes otal bl otal 227,585 £2,700,000 2,927,585 27,585 2,700,000 2,700,000 227,585 Analysls for the prlor year ending 31 March 2023 is 88 follow8.. Cate Equl - Quoted Shares Structured Notes (b otal 287,789 1.500.000 1,787,789 87,789 1.500.000 1,500,000 287,789 15-
THE LADUMA DHAMECHA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Investment rl8ks The disclosure of information in relation to certain investment rlsks. Credlt rlsk.. this Is the risk that one party to a financial instrument wlll cause a financial loss for the other paty by faillng to dlscharge an obligation. Marf(et rlsk: this comprises currency risk, interest rate rfsk and other prlce risk. Currency rlsk.. this is the risk that the fair value or fijture cash flows of a flnanclal asset will fluctuate because of changes in foreign exchange rates. Interesl rate rlsk.. this is the risk that the falr value or futu cash flows of a financlal asset will fluctuate because of changes in market interest rales. Other prlce rl#k'. thls Is the rlsk that the falr value or futu cash flows of a financlal asset will fluctuate because of changes in market price5 (other than those arising from interest Tate risk OT currency risk), whether those changes are caused by faclors specific to the individual financlal instrument or its issuer, or factors affecting all similar financial instruments traded in the maTkeL The Trustee5 Manage investment rlsk5, including credit risk and market risk, within agreed rlsk Ilmlts which are set taklng into account the charity strategic investment obleclives. These investment objectives and r15k limits are implemented through the Investment management agreements in place with the charlty Investment managers and monitored by the TTUStee5 by regular reviews of the investment portfolios. The vadous classes of Investments are affected by the below financlal risks.. Credit risk Currency r18k Interest rate rlsk Further info8tiOn on the Trustees, approech to risk management, credit and market risk is set out below. Investment 8trategy The Trustees, objective Is to make available to members of the charlty an appropriate range of investment options designed to generate Income and capltal gr0h. The day to day managemént of th8 underlylng Inve8tm8nls of the funds 18 undertaken by the trustees themselves. including the direct management of credit and market risks. Credlt rlsk The Charity is subject to indirecl credlt and market rfsk arf5ing frorn the underlying investments held in the foreign bond5. The Trustees only Invest In funds where the financlal Instruments and all counterpartles a at least investmeni gr.ade. Market rlsk The Charity 15 subject to forelgn exchange and interest rate rlsk arlsing from the underlying financial instruments held in the funds. 17 Related party tran8actlons The charltable trust received donatlons of £2.000,00012023.' £1,750,000) from a company which has common directors and trustees. 16-
THE LADUMA DHAMECHA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 IB Cash generated from operatlons 2024 2023 Surplus for the year 818,564 623,470 Adjustments for.. Investment income recognised in statement of financial activities Gain on disposal of investments Fair value gains and losses on investments (386,203) (142,281) (392.518) 113,568 80,204 Cash g•norated from operatlons 492,565 202.239 19 Analys18 of changes In net funds The charlty had no matèrlal debt durlng the year. 17-