REGisfERED COMPANY NUIVIBER: 01323448 (England and W4lts) REGISTERED CHARITY NUMBER: 800197 Report of the Trustees #nd Unaudlted Financial St8tem¢nt$ for the Year Ended 31 December 2Q24 for Sri AurDbindo Trnst Limited Grant Harrod Lernjan Davis LLP Chartered Accountants 1st Floor Healthaid House Marlborough Hill Harrow Middlesex HAI IiJD
Sri Aurobindo Trust Linilted Contents of the FinAncial Stli tements for the ye4r ended 31 December 2024 Page Report of the Truste¢s Independent Examiner's Repor¢ Statement of FinAnciRI AetlvÉties Bllance Sheet Notes to the FrnAnelil St#temehts 7 10 10
Srl Aurobindo Trust Llnilted Report of the Truste&% for the yeRr ended 31 De¢¢mber 2024 The Ii'tistees who are also directors of the chariry for the piirposes of the Conipani¢s Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2024. The ti'ustees have adopted the provisions of Accouiiting and Reporting by Cliarilies: Stateinent of Recoiiimended Practice applicable to charities preparing tlieir accounts in accordanc¢ witli the Financial Rcporting Standard applicable in the UK and Republic of Irelaiid (FRS 102) (¢ffec¢ive l Januaiy 2019). OBJEcfivES AND AcfiviTIES Objectives and aims Tlie cliarity's objects are for the sol¢ purpose of carryiiig on ils work propagatii)g Vedanta based upoi) various aiici¢iit and modern writings of great seei% and relies on donatiotis for funding its activities. The Trustees have paid diie regard to guidance issued by th¢ Charity Coinmission in deciding what activities the Charity should undertake. ACHIEVEMKTrITS AND PERFORMANCE ChAritAble activities The charity has contiiiued the fundiiig Imodules on niodern Ii)dian pliilosophy witli a spccific focus oli the t¢achings of Sri Aurobindo at tlie S¢hool of Oriental aiid African Studies ("SOAS"). The ¢harily has also coiiliiiued fui)ding of various projects at tlie Auroville Centre near Poiidicl)erry, SoLiih Ii)dia. During the yeaT the cliarity continucd lo lease the pi'emises at 4 Spring Lake, Staniiiore. Middlesex, HA7 3BX from Aliro Trading 2nd Investnieiils Eslablishm¢iil: the Freeholder. The buildiiig serves as Ilie main centir for holding meetings of tlie devotees. and tlie public at large, niaiiily to discu55 the teachings of Sri Alirobindo and il)e Moilier, for medilation classes. and also serves as administrative ceiitre for Cliai'ilable fuiid-raising a¢tivili¢s. FINANCIAL REVIEW FinAneial position The atla¢lied accoui)ts set oul tl)e finat)cial positioii at Ilie year eiid iii wl)ich the incoine wa5 derived froni iiiveslmei)Is aiid reiital iiicome. Donalioiis iii th¢ suin of £200,000 wer¢ received in the year. It is ihe policy of the charity that iinrestricted fiinds which hav¢ not been d¢sigiiaied for a specific use shoLild be Inaintained at a level equivalent to bween ihree and six month's expenditure. The Trustees considers that reserves al tliis level will ensure tliat. in Ili¢ event of a significwit drop in funding. they will be able to continiie tli¢ cliarity's current activitie5 w17ile con5ideratiorh is given to ways in which hdditioiial funds n)ay be rais¢d. This level of reserves lias beeii niaiiilained Iliroughout the year. T])e Trustees has assessed the iiiajor risks lo whi¢li tlie chai'ily is exposed, and arc salisfied tl)at Systems are in place lo miligale exposure lo Ilie Inajor risks. Risks lo exlei'iial fundiii81)ave beeii mitigated by regular review5 of funds available aiid by obiaiiiing fundiiig cominitineiits if iiecessary. During th¢ year, the tnislees continiied the funding of a lecture series on Sri Aiirobindo to be given to sliidents al the Scliool of African ld Oriental Siudi¢s in London. The Irilee8 have also funded education and related projects in Auroville townsliip near Pondiclierry, Ind2a. They are considering increasing the fiinding of projects in Auroville, STRucfuRE, GOVERNANCE AND MANAGEMENT Governli)E document The charity is controlled by its goveriiii)8 document. a de¢d of trust, aiid constitutes h limited compaiiy, liniit¢d by guaraiilee, as defiiied by the Compaiiies Act 2006. Page I
Sri Aurobindo Trust Limited Report of the Trustees for the yeAr ended 31 December 2024 The charity is a company lirnit¢d by guarantee 'I'he objects ai)d regulations ar¢ regulat¢d by the Company's Meii)ornndum and Articles of Association dated 28 JLily 1977 (as amended) and under these Memoranda. is constituted a5 an incorporated body. The Trustees, who are also the directors for th¢ purpose of coinpaiiy law, and who served during the yeor and up to Ilie date of signature of Ilie fiiiancial stateinents were: Mr KD Shah Mr K Sliah Th¢ directors of the Company are also chai'ity trusle¢s for the purpose of charity law and under the company's articles are ktHJwn as m¢mbers of the nianageiiient comniittee. None of the TTUStees has any beneficial interest iii the company. All of the Trustees are member5 of the company and guarantee to eontribute up to £5 in the event of a winding up in the year they ceas¢ to be a m¢iiiber ai)d within one after ¢easiiig to be a ni¢mber. The company does liav¢ a Sliare Capital Guaraiit¢e Reserve. This was created by tl)e iiiilial subscribers, eacl) guarant¢eii)g £1 ¢a¢li. This Sliare Capital Guarai)le¢ Reserve lias iiow passed over (ioiiiily) to the existing nieinbers. beiiig tlie two appointed directorslirustees. Th¢ IrLisle¢s are 81$0 dir¢¢tors for the puiyoses of Company Law. Mr K D Shah continued as triistee and the ¢I1rper$0n. Related pArtie5 The Trustee Mr K D Shal) is a related party to tlie charity. See note 9 for furtlier details. REFERENCE AIYD ADMIIYISTRATIVE DETAILS Reglstered Company Dumber 01323448 (Enslaiid aiid Wales) Registered Charity Dumber 800197 Registered office 8-14 Talboi Square Paddington Loiido W2 ITS Trustees Koolesli Dl)iru S]h Hotelier Ka13 Sliali Financial Consuliaiit {resigii¢d 24.6.2024) Nikhil Kool¢sh Dhiru Shah Director (appointed 24.6.2024) Kavila Doshi Director (appointed 24.6.2024) Independent E%#miner Jeremy Harrod FCCA Grant HaiTod Lemian Davis Ll.P Charler¢d Accountar)ts 1st Floor Healiliaid Hou$e Marlborough Hill Harroiv Middlesex HAI IUD Approved by order of tlie board of trustees on . Akr1 and signcd on its behalf by: Page 2
Sri Aurobindo Trust Limited Report of the Trustees for the yeAr ended 31 December 2024 Koolesh Dhiru Shah- Trustee Page 3
Independent ExAmiiier's Report to the Trustees of Sri Aur(sbindo Trust Limited Independeiit exftminer's report to the trustees of Sri Auyobindo Trust Limited ('the CompAny') I report to the charity tn15tees 01) Iny examination of tlie accounts of the Cornpany for the year elided 31 Deceniber 2024. RespollsÈbilities And bAsis of report As the ¢h3rity's trustees of the Company (and also its directors for the Plirposes of coinpany law) yoii are responsible for the preparation of tl)e accoLtnts in accordance willi the I'equiremeThts of il)e CollipaleS Act 2006 ('th¢ 2006 A¢t'). Havijig satisfied myself that tlie accouiils of tlie Company are i)ot required to be Mudited under Part 16 of the 2006 Act ai)d are eligible for iiidepeiident exginiiiation, I report in respect of iiiy examii)atioii of your cliarity's accounts as carried out uiider S¢¢tion 145 of the Charities Act 2011 ('Ilie 201 l Act,). In carrying out niy exaininalion I have followed the Directions given by tlie Charity Coinmission under Section 145(5} (b) of th¢ 2011 Act. Independent ex•miDer's statement I have completed my exaTnination. I confirni that no matter5 have come to my attention in conne¢tion wilh the exarnination giving Ine cause to believe.. a¢¢ounting record5 were not kept in respect of the Coii)pany as required by Section 386 of Ihe 2006 Act: or the a¢¢ouiils do i)ot accord with tliose record5,' or tlie accounls do not comply with the accoui)ting rcquirements of Se¢tion 396 of the 2006 Acl oilier than any requirem¢iil that the accounts give a truc aiid fair view which is not a nialter considered as part of an iiidepei)d¢iit examination. or the accounts liave ilot been prcpared iii accordaiice witli die n)eihods and princip1¢5 of the Siateineiil of Recommended Practice for aocoun¢ing and reporting by charities (applicable to cliarities preparing tlieir accounts in accoi'dance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and havc come across no other matters in conne10n with the examination to which atleiitioii should be drawn in iliis report iii order to enable a proper uiid¢rstandin8 nf the a¢¢ounts to be reached. Jeremy Harrod FCCA Grant Harrod Lerman Davis LLP Chartered AGcouiitanls I st Floor Healthaid Hous¢ Marlborough Hill Harrow Middlesex EIAI IUD LJ Pag¢ 4
Sri Aurobindo Trust L5mited Ststement of Financial A¢tivities for the ye•r ended 31 Dec¢mber 2024 2024 2023 Total fund5 Unrestricted funds Notes INCOME AIYD ENDOWMEIYTS FROM Donations and legacies 200.000 175,000 Inveslnient income 13.560 20.448 Total 213,560 195,448 EXPENDrruRE ON Charitsble Activities Charitable acitvities 173,542 217.424 Net gllins/(105s¢s) on investments 2,575 (2,400) NET INCOMEI(EXPENDITURE) 42,593 (24 J76) RECONCILIATION OF FUNDS Total funds brought forward 61,097 85,473 TOTAL FUNDS CARRIED FORWARD 103,690 61,097 The notes form part of th¢s¢ financial statements Pag¢ 5
Sri Aurobindo Trust Limited Balance Sheet 31 December 2024 2024 2023 Tolal funds Unrestricted funds Notes FIXED ASSETS Investments 57,520 51.980 CURRENT ASSETS Deblors Cash at bank 22.403 36.778 79.208 79,208 59,181 CREDITORS Amounts falling due within one year (33.038) (50,064) NET CURRENT A&SETS 46,170 9.117 TOTAL ASSETS LESS CURRENT LIABILITIES 103,690 61.097 NET ASSETS 103.690 61.097 FUNDS Unrestricted funds 103.690 61,097 TOTAL FUNDS 103.690 61.097 The charitable compai)y is entitled to exemption from audit under Sectioii 477 of tlie Companies Act 2006 for tlie year ended 31 December 2024. The meinbers have not required the company lo obtain an audit of its financial statements for the year ended 31 December 2024 in accordan¢¢ with Section 476 of tlie Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that thc charithble company k¢¢ps aount11]g records that coniply with Section5 386 and J87 of th¢ Coinpai)ies Act 2006 and preparitig fii)ancial statements which give a true and fair view of the state of affairs of the cliaritable wmpany as al tlie end of each financial year and of its surplus or d¢fiGit for each financial year in accordance witli th¢ requir¢ments of Sections 394 and 395 and which otherwise comply wilh ihe requirements of the Companies Act 2006 relating to finaftc&31 statements, so far as applicable lo th¢ charitsble Company. (b) Tl)¢5¢ financial stateinents have been prepared in accordance with tlie provisions applicablc to charitable coinpanies subject to th¢ sinall companies Tegime. Tl riiiaiiicial statei eiits wer¢ approved by the Board of Trustees and authorised for issue 01)d were sigiied on its behalf by: on l (-. Iks US).th..... Koolesh l)h- rii$tLe The notes fom] part of these financial ststemenls Page 6
Srl Aurobindo Trvst Limlttd Note$ tts the FlnaneiAI Stglements for Ihe year ended 31 December2024 ACCOUNTING POI,ICIES Basis of preparing the finauciAI ststements The financial stateinents of the charitable coinpany, which is a public benefit entity und¢r FRS 102, have been prepared in accordance with the Cl)aritl¢s SORP (FRS 102) 'A¢¢ounting and Reporting by Chariti¢s: Statement of Recommended Practice applicable lo ¢harilie5 preparing tli¢ir ac¢oui)Is ii) acwrdaiice with the Finaiicial R¢porting Standard appIlble in the UK and Republic of Irelaiid (FRS 102) {eff¢ctiv¢ l January 2019),, Financial Reporting Siaiidard 102 Tlie Financial Reporting Standard applicable li? the UK and Republic of Ireland, and ihe Companies Act 2006. Tl)e financial statements have been prepared under the histori¢al cost 01)ventioii. with the exoeptioii of iiiveslments wliich are included at market value. as modified by th¢ revaluation of certain as5¢ts. Income All income is recognised in the Statement of Financial AcllVitie5 once the charity has entitlement to the funds, il is probablc that tl)e incon)e will be received and tlie aiiiount can be measured reliably. Expenditure Liabilities are recugnised as ¢xp¢nditure as soon as there is a legal or ¢onstructive obligation ¢oinmitting the cliarity to that exp¢ndilure, it is probable that a transfer of ecoiiomic benefits will b¢ required in seltleiiieiit ai)d the amouiit of the obligation can be measured reliably. Expeiiditure is accouiited for on an accruals basi5 aiid has b¢¢ii classified und¢r headiiigs that aggr¢8ate all cost related to the category. Where costs caiiiiol be directly attributed to particular headings they have been allocated to activitie5 on a basi5 consi5t¢nl with the use of resources. Tax&tiort The ¢harity is exempl from corporation tax on its Charitable a¢livities. Fund Aeevunting Unrestricted fuiids can be used in accordance with the cliarilable objeclives at the discretion of ihe Iruslees. Restricted fuiids cai) oiily be used foi- particular restricted purposes wtthin the objects of the ¢liarily. Reslrictioiis arise wlieii specified by the donor or wlien funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each Fund is included in the notes to the fiiiancial statements. Share e%pltAI guarantee reserve The company is liniited by guaranlee and does not have share capital. The Share Capitsl Guarantce Reserve was created by the iiiitial svbscribers, each guardliteeing £ l each. Tliis Sl)are Capital Guarantee Reserve has now passed over tioiiitly) to the existing meiiibers. being the two appointed directorslirustees (See note l O - Legal Status of Cliai'ity). INVESTMENT INCOME 2024 2023 R¢n15 received Oth¢r fixed asset inv Deposil account interest 8,101 2,965 2,494 16,200 3.246 1.002 13,560 20.448 Page 7 ntinued...
Sri Aurobindo Trust Limited Notes to the Financial St#tements - tontinutd for the year ended 31 Dee¢mber 2024 TRusfEES' REMUNERATION AND BENEFITS There wer¢ no truste¢s' remuneration or other ben¢fits for the year ended 31 December 2024 nor for the year ended 31 December 2023. Trusttes, expenses There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL A]VITIEs Unrestri¢ted funds INCOME AND ENDOWMEwfs FROM Donations and l¢gaoies 175,000 Investinent income 20,448 Totsl 195.448 EXPENDITURE ON ChAritable &ctivities Charitable acitvities 217,424 Net gains/{losses) on investments (2.400) NET INCOMEI(EXPENDITURE) (24,376) RECONCILIATION OF FUNDS Total funds broughi forward 85.473 TOTAL FUNDS CARRIED FORWARD 61,097 FIXED ASSET INVESTMENTS Fixed asset investments are initially rn¢asured at transaction price cxGluding transaction costs. and are subsequently measured at fair value at each reporting dat¢, Changcs in fair valu¢ are recognised in net in¢ome/(exp¢nditUTe) for the year . Transaction wsls are expensed as incurred. Fixed Set inv¢stments comprises of the following. Listed inveslinenls held.. £35,165 (2023.. £41.385) C4sh in investment portfolio: £22.355 (2023: £10,594) Page 8 continued...
Sri Auroblndo Trus¢ Limited Notes to the Financi41 S¢4tements- Continued for the year ended 31 December 2024 DEwfoRS: AMouNfs FALLING DUE wrfHIN ONE YEAR 2024 2023 Otlier debtors Prepayments and accrued inwme 9.893 12.510 22,403 CREDITORS: AMOUIYTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade Creditors Accruals and deferred in¢orne 4.287 28,751 18,342 31,722 33.038 50.064 MOVEMENT IN FUNDS Net movement in funds At 31.12.24 At 1.1.24 Unrestricted funds General fund Share Capital Guarant¢e Res¢rv¢ 61.090 42.593 103,683 61.097 42,593 103,690 TOTAL FUNDS 61,097 42,593 103,690 Net movement in funds. included in th¢ &bov¢ are as follows.. Incoining resources Resources expended Gains and losses Movement in funds Unrestrieted funds Qeneral fund 213,560 (173.542) 2,575 42,593 TOTAL FUNDS 213,560 (173.542) 2,575 42,593 ComparAtives for movement Kn funds Net moveinent in funds At 31.12.23 At 1.1.23 Unrestricted funds General fund Shar¢ Capital GuoT8ntee Reserve 85.466 {24.376) 61,090 85.473 {24,376) 61,097 TOTAL FUNDS 85,473 (24,376) 61.097 Page 9 continued...
Sri Aurobindo Trust Limited Notes to the Fingncl*l Ststements - eontinued for the year ended 31 December 2024 MOVEME]YT IN FUNDS- ¢ontiDued Compardtive net movement in funds, incliided in the above are as follows.. Incoming resources Resources expended Gains and losses Movement ID funds Unrestrioted funds General fvnd 195,448 (217,424) (2,400) (24,376) TOTAL FUNDS 195.448 (217.424) (2.400) (24,376) RELATED PARTY DISCLOSURES During the year the charity entered into the following transactions with related parties.. Thc property available to further the charitsble aims is partly occupied by one of the Trustees - Mr K D Shali as live-in carethker. and to r¢cognise this, wntribul¢s Teiital income undcr an Assured Shorthold Tenancy aTr4ngem¢nt. io. LEGAL STATUS OF CHARITY The charity is a company limited by guaranl¢e and has no share capital. In the event of the charity being wound up. the liability in r¢sp¢ct of the gu8rantee is limited to £ 5 per member of lh¢ charity while they we a member and within one year after djey cease to be a member. Page 10