2023-12-31-accounts - Sri Aurobindo Trust Limited

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REGISTERED COMPANY NUMBER: 01323448 (England and Wales) REGISTERED CHARITY NUMBER: 800197

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Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2023

for

Sri Aurobindo Trust Limited

Grant Harrod Lerman Davis LLP Chartered Accountants 1st Floor Healthaid House Marlborough Hill Harrow Middlesex HAI !UD

Sri Aurobindo Trust Limited

Contents of the Financial Statements for the year ended 31 December 2023

Page Report of the Trustees 1 to 3 Independent Examiner's Report 4 Statement of Financial Activities 5 Balance Sheet 6 Notes to the Financial Statements 7 to 10

Sri Aurobindo Trust Limited

Report of the Trustees for the year ended 31 December 2023

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The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements ofthe charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims The charity's objects are for the sole purpose of carrying on its work propagating Vedanta based upon various ancient and modern writings of great seers and relies on donations for funding its activities,

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

ACHIEVEMENT AND PERFORMANCE

Charitable activities The charity has continued the funding modules on modern Indian philosophy with a specific focus on the teachings of Sri Aurobindo at the School of Oriental and African Studies ("SOAS"). The charity has also continued funding of various projects at the Auroville Centre near Pondicherry, South India.

During the year the charity continued to lease the premises at 4 Spring Lake, Stanmore, Middlesex, HA? 3BX from Awro Trading and Investments Establishment, the Freeholder.

The building serves as the main centre for holding meetings of the devotees, and the public at large, mainly to discuss the teachings of Sri Aurobindo and the Mother, for meditation classes, and also serves as administrative centre for charitable fund-raising activities.

FINANCIAL REVIEW

Financial position The attached accounts set out the financial position at the year end in which the income was derived from investments and rental income. Donations in the sum of £175,000 were received in the year.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The Trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks, Risks to external funding have been mitigated by regular reviews of funds available and by obtaining funding commitments if necessary. During the year, the trustees continued the funding of a lecture series on Sri Aurobindo to be given to students at the School of Aftican and Oriental Studies in London. The trustees have also funded education and related projects in Auroville township near Pondicherry, India. They are considering increasing the funding of projects in Auroville,

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

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Sri Aurobindo Trust Limited

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Report of the Trustees for the year ended 31 December 2023 The charity is a company limited by guarantee . The objects and regulations are regulated by the Company's Memorandum and Articles of Association dated 28 July 1977 (as amended) and under these Memoranda, is constituted as an incorporated body. The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr KD Shah Mr K Shah

The directors of the company are also charity trustees for the purpose of charity law and under the company's articles are known as members of the management committee, None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute up to £5 in the event of a winding up in the year they cease to bea member and within one after ceasing to be a member. The company does have a Share Capital Guarantee Reserve. This was created by the initial subscribers, each guaranteeing £1 each. This Share Capital Guarantee Reserve has now passed over (jointly) to the existing members, being the two appointed directors/trustees. The trustees are also directors for the purposes of Company Law. Mr K D Shah continued as trustee and the chairperson.

Related parties

The Trustee Mr KD Shah is a related party to the charity. See note 9 for further details.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 01323448 (England and Wales)

Registered Charity number 800197

Registered office 8-14 Talbot Square

Paddington London W21TS Trustees Koolesh Dhiru Shah Hotelier Kala C Shah Financial Consultant Independent Examiner Company Secretary Jeremy Harrod FCCA Grant Harrod Lerman Davis LLP Chartered Accountants Ist Floor Healthaid House Marlborough Hill Harrow Middlesex HAI 1UD Approved by order of the board of trustees on 3-6 -Vs and signed on its behalfby:

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Sri Aurobindo Trust Limited

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Report of the Trustees for the year ended 31 December 2023

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Independent Examiner's Report to the Trustees of Sri Aurobindo Trust Limited

Independent examiner's report to the trustees of Sri Aurobindo Trust Limited (‘the Company’) I report to the charity trustees on my exatnination of the accounts of the Company for the year ended 31 December 2023. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 (‘the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with 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 Zs 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 ofan independent
1. examination;the accounts orhave 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 ofIreland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

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Jeremy Harrod FCCA

Grant Harrod Lerman Davis LLP Chartered Accountants 1st Floor Healthaid House Marlborough Hill

Harrow Middlesex Date: a HA! 1UD | L 2

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Sri Aurobindo Trust Limited

Statement of Financial Activities for the year ended 31 December 2023

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||||| |---|---|---|---| |2023|2022| |Unrestricted|Total| |funds|funds| |Notes|£|£| |INCOME AND ENDOWMENTS FROM| |Donations and legacies|175,000|100,000| |Investment income|2|20,448|24,111| |Total|195,448|124,111| |EXPENDITURE ON| |Charitable|activities| |Charitable acitvities|217,424|156,823| |Net gains/(losses) on investments|(2,400)|(2,569)| |NET INCOME/(EXPENDITURE)|(24,376)|(35,281)| |RECONCILIATION OF FUNDS| |Total funds brought forward|85,473|120,754| |TOTAL FUNDS CARRIED FORWARD|61,097|85,473|

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The notes form part of these financial statements

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Sri Aurobindo Trust Limited

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|||||| |---|---|---|---|---| |Balance|Sheet| |31|December 2023| |2023|2022| |Unrestricted|Total| |funds|funds| |Notes|£|£| |FIXED ASSETS| |Investments|5|51,980|63,073| |CURRENT ASSETS| |Debtors|6|22,403|18,772| |Cash|at bank|36,778|16,029| |59,181|34,801| |CREDITORS| |Amounts falling|due within one year|7|(50,064)|(12,401)| |NET CURRENT ASSETS|9,117|22,400| |TOTAL ASSETS LESS CURRENT| |LIABILITIES|61,097|85,473| |NET ASSETS|61,097|85,473| |FUNDS|8| |Unrestricted|funds|61,097|85,473| |TOTAL FUNDS|61,097|85,473|

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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial npfemients were approved by the Board of Trustees and authorised for issue on BAD... ers. 20 bf. and were signed on its behalf by: an & oolesh Dhiru Shah - Trustee

The notes form part of these financial statements

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Sri Aurobindo Trust Limited

Notes to the Financial Statements for the year ended 31 December 2023

ACCOUNTING POLICIES

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Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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 20 19)', Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

IncomeAll income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

ExpenditureLiabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

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. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions atise 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.

ShareThe company capital is guarantee limited byreserve guarantee and does not have share capital. The Share Capital Guarantee Reserve was created by the initial subscribers, each guaranteeing £1 each. This Share Capital Guarantee Reserve has now passed over (jointly) to the existing members, being the two appointed directors/trustees (See note 10 - Legal Status of Charity). 2 INVESTMENT INCOME 2023

Reserve has now passed over (jointly) to the existing members, being the two appointed directors/trusteeshas now passed over (jointly) to the existing members, being the two appointed directors/trusteesnow passed over (jointly) to the existing members, being the two appointed directors/trusteespassed over (jointly) to the existing members, being the two appointed directors/trusteesover (jointly) to the existing members, being the two appointed directors/trustees(jointly) to the existing members, being the two appointed directors/trusteesto the existing members, being the two appointed directors/trusteesthe existing members, being the two appointed directors/trusteesexisting members, being the two appointed directors/trusteesmembers, being the two appointed directors/trustees (See notenote 10 - Legal- LegalLegal Status ofCharity).	Reserve has now passed over (jointly) to the existing members, being the two appointed directors/trusteeshas now passed over (jointly) to the existing members, being the two appointed directors/trusteesnow passed over (jointly) to the existing members, being the two appointed directors/trusteespassed over (jointly) to the existing members, being the two appointed directors/trusteesover (jointly) to the existing members, being the two appointed directors/trustees(jointly) to the existing members, being the two appointed directors/trusteesto the existing members, being the two appointed directors/trusteesthe existing members, being the two appointed directors/trusteesexisting members, being the two appointed directors/trusteesmembers, being the two appointed directors/trusteesbeing the two appointed directors/trusteesthe two appointed directors/trusteestwo appointed directors/trusteesappointed directors/trusteesdirectors/trustees	Reserve has now passed over (jointly) to the existing members, being the two appointed directors/trusteeshas now passed over (jointly) to the existing members, being the two appointed directors/trusteesnow passed over (jointly) to the existing members, being the two appointed directors/trusteespassed over (jointly) to the existing members, being the two appointed directors/trusteesover (jointly) to the existing members, being the two appointed directors/trustees(jointly) to the existing members, being the two appointed directors/trusteesto the existing members, being the two appointed directors/trusteesthe existing members, being the two appointed directors/trusteesexisting members, being the two appointed directors/trusteesmembers, being the two appointed directors/trusteesbeing the two appointed directors/trusteesthe two appointed directors/trusteestwo appointed directors/trusteesappointed directors/trusteesdirectors/trustees
INVESTMENT INCOMEINCOME	2023	2022
	£	£
Rentsreceived Otherfixedassetinv Depositaccountinterest	16,200 3,246 1,002	20,250 3,657 204
	20,448	24,111

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Sri Aurobindo Trust Limited

Notes to the Financial Statements - continued for the year ended 31 December 2023

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TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees’ remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees’ expenses There were no trustees' expenses paid for the year ended 3) December 2023 nor for the year ended 31 December 2022.

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||||| |---|---|---|---| |4.|COMPARATIVES FOR THE STATEMENT OF|FINANCIAL ACTIVITIES|Unrestricted| |funds| |£| |INCOME AND ENDOWMENTS FROM| |Donations and legacies|100,000| |Investment income|24,111| |Total|124,111| |EXPENDITURE ON| |CharitableCharitable acitvitiesactivities|156,823| |Net gains/(losses)|on investments|(2,569)| |NET INCOME/(EXPENDITURE)|(35,281)| |RECONCILIATION OF FUNDS| |Total funds brought forward|120,754| |TOTAL FUNDS CARRIED FORWARD|85,473|

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5, _ FIXED ASSET INVESTMENTS

Fixed asset investments ate initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred. Fixed asset investments comprises ofthe following; Listed investments held: £41,385 (2022: £57,660)

Cash in investment portfolio; £10,594 (2022: £5 412)

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Sri Aurobindo Trust Limited

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR AMOUNTS FALLING DUE WITHIN ONE YEAR FALLING DUE WITHIN ONE YEAR DUE WITHIN ONE YEAR WITHIN ONE YEAR ONE YEAR

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Notes to the Financial Statements - continued for the year ended 31 December 2023

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||||||| |---|---|---|---|---|---| |DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR AMOUNTS FALLING DUE WITHIN ONE YEAR FALLING DUE WITHIN ONE YEAR DUE WITHIN ONE YEAR WITHIN ONE YEAR ONE YEAR|2023|2022| |£|£| |Other debtors|9,893|6,556| |Prepayments and acerved income|12,510|12,216| |22,403|18,772| |Te|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE|YEAR|2023|2022| |£|£| |Trade creditors|18,342|-| |Accruals and deferred income|31,722|12,401| |50,064|12,401| |8.|MOVEMENT IN FUNDS|Net| |movement|At| |At|1.1.23|in funds|31.12.23| |£|£|£| |UnrestrictedGeneral fund|funds|85,466|(24,376)|61,090| |Share Capital Guarantee Reserve|7|-|7| |85,473|(24,376)|61,097| |TOTAL FUNDS|85,473|(24,376)|61,097| |Net movement in funds, included|in|the above|are|as follows:| |Incoming|Resources|Gains and|Movement| |resources|expended|losses|in funds| |£|£|£|£| |UnrestrictedGenerali fund|funds|195,448|(217,424)|(2,400)|(24,376)| |TOTAL FUNDS|195,448|(217,424)|(2,400)|(24,376)| |Comparatives|for movement|in funds| |Net| |movement|At| |At|1.1.22|in funds|31.1222| |£|£|£| |GeneralUnrestricted fund|funds|120,747|(35,281)|85,466| |Share Capital Guarantee Reserve|7|-|7| |120,754|(35,281)|85,473| |TOTAL FUNDS|120,754|(35,281)|85,473|

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Sri Aurobindo Trust Limited

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Notes to the Financial Statements - continued for the year ended 31 December 2023

8. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

	Incoming resources £	Resources expended £	Gainsand lasses £	Movement infunds £
Unrestricted funds Generalfund	124,111	(156,823)	(2,569)	(35,281)
TOTALFUNDS	124,111 ———a	(156,823) =—_—	(2,569) =—=—_—	(35,281) ——

9. RELATED PARTY DISCLOSURES

During the year the charity entered into the following transactions with related parties:

The property available to further the charitable aims is partly occupied by one of the Trustees - Mr KD Shah as a live-in caretaker, and to recognise this, contributes rental income under an Assured Shorthold Tenancy arrangement.

LEGAL STATUS OF CHARITY

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The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £ 5 per member of the charity while they are a member and within one year after they cease to be a member.

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