Charfty Registration No. 802756 THE I[uJA FOUNDATION li ANNUAL REPORT AND EllANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020
THE EttNDUJA FOUNDATION li LEGAL AND ADMINtSTRATtVE DETAILS li Re8AStered Charity Name The Hinduja Foundation Charity Number 802756 Governing Instnunent The Hinduja Foundation was established under a Trust deed dated 5th Deccmber 1989 that gives the Trustees wide ranging investment powers. It subsequently became registered as a chariry under number 802756. Trnstees Srichand P. Hinduja Gopichand P. Hinduja Prakash P. Hinduja Sanjay G. Hinduja Dheeraj G. Hinduja Honorary President Sir M. Burton Principal Address New Zealand House 80, Haymarket London SWIY 4TE ankers Barclays Bank plc I Churchill Place London E14 5HP Auditors Lubbock Fine LLP Chartered Accountants & Registued Auditors Paternoster House 65 St Paul's Churchyard London EC4M 8AB
THE IttNDUJA FOUNDATION li TRUSTEES, REPORT The Trustees present their annual report together with the audited financial statements of The Hinduja Foundation (the Charity) for the year ended 31 December 2020. The Tw5tees confTh that the Annual Report and financial statements of the Charity comply with the current statutory requirements, the requirements of the Charity's governins document, the Charities Act, and the provisions of the Statement of Reeommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effective l January 2019). Objectives The Charity's objectives are tbe advancement of education and medicine throughout the world, the reltef of poverty, hunger and sickness and the advancement of interfalth understanding. Further objectives are to promote study and research into: a) the social, economic and other causes of the underdevelopment of nations" b) how nations can achieve a higher rate of economic and social developtnent. c) relationships between developing and developed countrie5, and d) international efforts to aid developrnent. Orgatiisation The Trnstees who 5eTved during the year and Since the year end are set Dut on page l. The power to appoint Trustees is vested in existing Trustees. In accordance with the Trust deed, the longest serving third of the Trustees retire every two years, however retired TnLStees may be re-appointed by the continuing Trustees. Durin8 the year The Hinduja Foundation was managed by the Trnstees who are assisted by Sir Michael Burton, the Honorary President of The Hinduja Foundation and Michael Urwick, its DirectOT. The Trustees contitLUOUSly review their competencies and are conscious of the need to maintain a balance ofskilis. Periodically additional members may be invited to become Trnstees and this would involve a carefvl vetting process by the current Trustees to ensure any new member is aware of hisjher responsibilities towards the Charity. New Trnstees would be briefed on their legal obIigations under charity law, the content of the governing document, the decision-making processes and the recent flllancial perfornnCe of tbe Cbarity. Public Benefit In setting objectives and planning the activity of the Charity in 2020 and beyond, the Trustee5 contlnue to give careful consideration to the Charity Commission's general guidance on public benefit. Review of the Foundation s activities DuTing the year the Trnstee5 of The Hinduja Foundation approved donations totalling £149,521 (2019 - £97,049). The largest donation paid was made to St Paul's School for £20,937 (2019- donation of £23,753 to Wadham College at the University of Oxford). As at 3 1st December 2020, after allowing for all amounts owed, a deficit of £16,762 (2019- surplus of £50,453) for the year remained. The HirAduja Foundation anticipates that sufficient funding will continue to be received to enable them to make further donations and maintain its administration. During the year, donations receivable from Sangam Limited totalled £5,000 (2019- £nil), from Gulf Oil tnternational Limited totalled £15,000 (2019 - £nil), from Hinduja Automotive Limited totalled £115,205 (2019- £20,000), and from Arthik Investments Limited totalled £nil (2019- £130,000).
THE HINDUJA FOUI¥DATION li TRUSTEES, REPORT Future Plans The Charity will continue to provide nding to various charities and bodies in accordance with the objectives of the Charity as stated above. Grants Policy The Hinduja Foundation grants donations to causes and charities in line with the objectives stated above including those advocaring the advancement of interfaidj understanding, the advancemetLt of education, the relief Df poverty, hunger and sickness, promoting CUlra[ awareness and the arts and the advancement of edicine. Reserv Policy It is the policy of The Hinduja Foundation to maintsin fimds, which are free reserves of the Charity, at a level which covers administrative costs and grant applications throughout the year. As at 31 December 2020 the Clwiry's free reserves were in a deficit of £1.160 (2019- surplu5 of £15,602). Risk Management The principal risk of the Charity is whether the Charity is able to secure sufficient donations to fvnd its charltable activities. This risk is mitigated by the Trnstees ensuring that it only enters into commitments to provide donations when there are sufficient funds available to do so, or whether further donatiolls can be secured to fund such commitrneiits. The Trustees have ensured procedures are in place to identify the business and operational risks facing the Charity and have ensured action 15 taken to mitigate those risks. Connected OTganisations Mr Srichand F Hinduja, Mr Gopichand P Hinduja and Mr Prakash P Hinduja are also Tn]stees of the following charities: Hinduja Foundation (Europe), Hinduja Foundation (USA) and Hinduja Foundation (India). The Hinduja Foundation is a]so connected with the Hinduja Foundation Limited, a company re8i5tered in Liberia. The principle contact addresses of the connected organisations are as follows: Hinduja Foundation (India), Hinduja House. Dr Annie Bessant Road, Wor]i, Mumbai, 4000 18, Indla. Hinduja Foundation (USA), 520, Madision Avenue, New York, NY 10022, USA. Hinduja Foundation (Europe), c/0 Hinduja Advisory Services S.A., 3 bis Place de la Fusterie, 1204 Geneva, Switzerland. Hinduja Foundation Limitcd (Liberia}, c/0 Hinduja Advisory Services S.A., 3 bis Place de la Fusrerie, 1204 Geneva, Switzerknd.
THE HIfgDUJA FOUI¥DATION li TRUSTEES? REPORT Trnstees responsibilities statement The TTUStee5 are responsible for preparing the Tstee5, Report and the financial starements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law appIieable to charities in England & Wales requires the Trnstees to Prepare financial statements for each flluncial year which give a tnle and fair view of the State of affairs of the Chariry and of the incoming TesouTces and application of resources of the Cbariry ft)r thar period. In preparing these fmancial statements, the Trnsrees are required to: selec¢ suitable accounting policies and then apply them consistently. observe the metbods and principles in the Charities SORP. iii make judgements and estin]ates that are reasonable and prudent. State whether applÉeable UK Accoullting Standards have been followed, subject to any material deparmres disclosed and explained in the financial statements. and iv prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will conrinue in operation. The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the Charity's transactions and disclose witb reasonable aceuraey at any time the funCIal position of the Charity and enable them to ensure that the financial Stateents 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 safeguardillg the assets of the Charity and hence for raking reasonable steps for th¢ prevention and detection of fraud and otber ]earitie$. AUDITOR A resolution to re-appoint Lubbock Fine LLP as auditor for tbe ensuing yeaT will be proposed at the general meeting. On behalf of th¢ Trnstees S.G. HDuJA TRUSTEE . HINDUJ TRUSTEE
THE IIINDUJA FOUNDATION INDEPENDENT AUDITORS) REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31"DECEMBER 2020 OPINION We have audited the fmancial statements of The Hinduja Foundation (the 'Chariry? for the year ended 31 December 2020 which comprise the Statement of Financial ActLVlties incoryorating Incorne and Expenditure Account. the Balance Sheet, and the related notes, including a summary of significant accounting policies. The fjnancial reporting framework that has been applied in their preparation is applicable law aThd United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In oiir opinion the financial statements: give a tre and fair view of the State of the Chity'S affairs as at 31 December 2020 and of its incoming resources and application of resources, including its incorne and expenditure for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice" and have been prepared in accordance with the requirements of the Charities Act 2011. BASIS FOR OPINION We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilitics under those standards are thrther described in the Auditors, responsibilities for the audit of the financial statemellts section of our repon. We are independent of the Charity in accordance with the ethical requirements that relevant to our audit of the financial stateJnents in the United Kingdom, including the Financial Reporting Council'5 Ethical Standard, alld we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence w¢ have obtained is sutricient and appropriate to provide a basAs for our opinion. CONCLUSIODIS RELATITrIG TO GOING CONCERN In auditing the fllllncial statements. we have conduded that the Trustees, use of the going concern basis of accounting in the preparation of the fmancial stst¢ments is appropriate. Based on the woik we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collcctivcly. may cast significant doubt on the Charity's ability to continue as a going concern for a period of ar least twelve rnOn from when the financial statements are authorised for issue. Our Tesponsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. OTHBR INFORMATION The Trnstees are responsible for the other infomiatioll. The other inforniation comprises the infonnation included in the Annual Report, other than the flnancial statements and our Auditors, Report thereon. Our opinion on the fanCIal statements does not cover the other inforniation and we do not express any forn1 of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the otber inforniation and, in doing so, consider whether the other infonnation is materially Inconstellt with the fLnancial statements or our IOWledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material Misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstaternent of th¢ other information. If, based on the work we have perforn)ed, we conclude that there is a material Misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
THE HINDUJA FOUNDATION li INDEPEI¥DENT AUDITORSI REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31° DECEMBER 2020 {cowfINLfED) MATfEIiS ON WHtCH WE ARE REQUIRED TO REPORT BY EXCEPTION We have nothing to report in respect of the following matters in relation to where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, iu our opinion.. the inforniation given in tbe Trnstees, Report is inconsistent in any material respect with the financial statements. or sufficient accounting records have not been kept,. or tbe financial statements are not in agreement with the accounting records; or we have not received all the information and explanations we require for our audit. RESPONSIBILITIES OF TRUSTEES As explained more llY in thc Trnsrccs, Rcsponsibilities Statement set out on page 4, the Trustees are responsible for the preparation of the fmanaal statements and for being satisfied that they give a true and fair view, and for such internal contn)l as the Trustees detennine is necessary to enable the prepar(Itioll of financial statements that are free from ateriaL mi55tatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Charity's ability to continue as a going concem, disclosing, as applicable, matters related to going concern and using the going concetn basis of accounting unless the Trnstees either intend to liquidate the Charity or to cease operafions, or have no realistic alternative but to do so. AUDITORS, RESPONSIBILITIES FOR THE AUDrr OF THE FtNANCIAL STATEMENrs We have been appointed as auditor under section 145 of the Charities Act 2011 and report in aecordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to Dbtain reasonable assurance about whether the fmancial statements as a whole are free from material misstatement, wbetber due to fraud or error, and to issue an Auditors, Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a 8uaralltee 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 rf. individually or in the agsregate, they could reasonably be expected to influence the economic decisions of users taken on tbe basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in litie with our responsibilities, out]ined above, to detect material misstatements in respect of irregulaTlties. including fraud. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncomp]iance with laws and regulations, we considered the following: The nature of the sector and the impact of Covid 19 on financial and operating perforn]ance and policies. Enquiries of managemenf, including obtaining and reviewing supporting documentation, concerning tbe charity's poliaes and procedures relating to: o identifymg, evaluating and complyin8 With laws and regulations and whether they were aware of any instances of non<ompliance detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud" and the internal controls established to mitigate Tisks related to fraud or non-compliance of laws and regulations- and
TItE t[NDuA FOUNDATION li DEPENDENT AUDITORSI REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31" DECEMBER 2020 (CONTINUED) Discussions among the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. The engagement team includcs audit partners and staff who have extensive experience of workingwith charities in similar sectors and this experiell was relevant to the discussion about where fraud risks might arise. We also obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on provisions of those laws and regulations that had direct effect on the detennination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included th¢ UK Charities Act and Charities SORP 2019. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial sta(ements but compliance with which may be fundamental to the charity's abiliry to operate or to avoid a material penalty. These included health and safety regulations, employment law, and environmental regEJlations. As a result of these procedures, we considered the particular areas that wer¢ susccptible to misstatement due to fraud were in respect of whether donations payable were in line with the Charity's objectives, management override and occurrence of expenditure. Our procedures to respond to risks identified included the following: reviewing the financial stateroent disclosures and testing to supporting documentation to asse5S compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements" enquiring of management concerning acttlal and potential litigation and claims. perforniin8 analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material rllisstatement due to fraud; reviewing donations payable on a sample basis to assess whether they are in Iine with tbe Charity's objectives. in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entrie5 and other adju51ments,' assessing whether the judgements made in making accounting estimates are indicative of a potential bias" alld evaluating the rationale of any significant transactions that are unusual or outside the nonnal course of the charity's operations. AgreeiJAg expendiwre on a sample basi5 to verify validity. There are inherent limitations in the audit procedures described above and the fillther removed non-compliance with laws and regulations is from the events and transactions reflected in the financial staternents. the less ljkely we would become aware of it. Also, the risk of not detectin8 a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud rnay involve deliberate concealment by, for example, forgery or intentional rnisrepresentations, or through coIlusion. A further description of our responsibilities for the audit of the fjnancial statenlents is located on the Financial Reporting Councit's website at.. www.frc.org.uk/auditorsresponsibilities. This description fornis part of our Auditors, Report.
THE HtNDUJA FOUNDATION li INDEPENDENT AUDITORS) REPORT TO THE TRUSTEES FOR THE YEAII ENDED 31" DECEMBER 2020 (CONTINUED) USE OF OUR REPORT This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 21K)8. Our audit work has been undertaken so that wc mIt state to the Trustees those matters we are required to state to them in an auditors report and for no other puwe. To the fullest extent pennitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity's Trttee$ as a body, ftii our audit work, for this report, or for the opinions we have f0rn1ed. OCE FIML Llf Lnbboek Fine LLP Chartered Accountants & Statutory Auditors Paternoster House 65 St Paul's Churchyard London EC4M 8AB Date: 26 october 2021 Lubbock Fine LLP ts eligible for appointment as auditor of the charity by virtue of its eligibility for appointh)ent as auditor of a company under section 1212 of the Companies Act 2006.
TIIE HINDUJA FOUNDATION li STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER2020 Notes 2020 2019 Income from Donations 136,705 151,500 Total income 136,705 151,500 Expendrture on Charitable activities 153,467 101.047 Total expenditure 153,467 101,047 Net income (16,762) 50.453 Net movement in funds (16,762) 50,453 Reconciliation of funds Total funds at l January 2020 15.602 (34,851) Total funds at 31 December 2020 (1,160) 15,602 All activities relate to coniinuing operations. All amounts Telate to unrestricted fldS only. The notes on pages I I to 16 fonn part of these fancIal statements.
THE HtNDUJA FOUNDATION li BALANCE SHEET AS AT 31ST DECEMBER 2020 Notes 2020 2019 CURRENf ASSETS Cash at bank 40 18,027 Creditors: amounts falling due within one year (1,200) (2,425) NET CUEIIENT LIABILITIES (1,160) 15,602 NET DEFICIT (1,160) 15,602 REPRESENTED BY: TRUST FUND- Unre5tiicted fun( (1,160) 15,602 Approved by the Trustees on 06/09/2021 and signed on their behalf by S.G. HINDUJA TRUSTEE D.G. HINDUJA TRUSTEE The notes on pages 10 to 15 forn part of these financial statements. 10
THE HtNDUJA FOUNDATION li NOTES FORMING PART OF THE ACCOUNTS li 31ST DECEMBER2020 Aecounting po]xcAes Basis of accountin8 The fmancial statements have been PTepared under the historic81 Cost convention with items recognised at cost or transaction value unless othenvise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recon]mended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). the Financial Reporting Standard applicable in United Kingdom and Republic of Ireland (FRS 102) and tbe Charitie5 Act 2011. The Charity Constite$ a public benefit entity as defined by FRS 102. Going concern The Charity is in the main rdiant upon donations to raise revenue ro meet future expenditure. The Trnstees consider that it is appropriate to prepare the fll]ancial statements on the going concern basis. This assessment is on the basis of confrntion received from related entities that they would fid any shortfall should the Charity not recelve sufficient donations from third parties. The impact of the COVID-19 outbreak on the financial performance of the Charity will depend on tUre developments, including the duration and spread of the outbreak, the continuing restrictions and the impact of COVID-19 on the overall economy, all of which are highly uncertain and cannot be predicted. If the charity is unable to continue in operational existence for the foreseeable fijture, adJuStentS would hav¢ to k made to r¢dvc¢ the balance sheet values of the asscts to their recoverable amounts and provide for further liabilities that may arise. Cash flow statement The Charity has taken advantage of the exemption from preparing a cash flow statement under Update Bulletin I, on the basis that the Charity does not qualify as a larger charity for financial reportirAg purposes. iv) Funds General fidS are untestiicted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purpose5. Where specific donations and other income are received for a particular charitable purpose, these are allocated to a restricted fund and expenditure incurred for that Purpose is applied against the fiJnd. The ChaTity had no restricted funds in either 2020 or 2019. Income All income is recogllised On the Charity has entitlement to the income, it is probable that the income will be received and tbe amount of income receivable can be measured reliably. The value of donated services is recognised at the market value of the seTvices received. Ir is classified as incorning resources as the Trustees consider li provides a true and fair view of the operations of the Charity. A corresponding expense is also recogllised.
TItE IttNDUJA FOUNDATION li li NOTES FORMllqG PART OF THE ACCOUNTS (CONTINUED) 31ST DECEMBER 2020 Accounting policies (continued) vi) All expenditure is accounted for on an accruats basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings. Resources expended ExpendIre is recognised once there is a legal or constnjctive obligation to make payment to a third party, it is probable that settlement will be required and the amount of the obIi8ation can be measured reliably. Donations payable are accounted for when a legal or constructive obligation arises otherwise donations are accounted for when paid. Support costs are those costs incurred that are not directly attributable to the specific grants given by the Charity as part of its charitable activities. Governance costs are those costs incurred in relation to the govemance of the Cbarity and relate exclusively to the auditors remuneration. VIL) The Charity is not registered for VAT and its expens are therefore inclusive of VAT wbich cannot be recovered. Irrecoverable VAT Vlll) Cash and cash equivalents Cash is represented by cash in hand and deposits with financial institutions repayable witbout penalty on notice of not more than 24 hours. Cash equivalents are highly Iiquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amount5 of cash with insignificant risk of change in value. Creditors and provisions Creditors and provisions are recognised wbere the Charity has a present obligation resulting from a past event that will probably result in che transfer of funds to a third party and the amount due ro settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 12
THE HtNDUJA FOUNDATION li li NOTES FORMING PART OF THE ACCOUNTS {cONTUED> 31ST DECEMBER 2020 Accounting policies (continued) Financial instruments The Charity enters into basic financial instnunents transactions that result in the recognition of fmancial assets and liabilities like trade and other accounts payable and loans from banks. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts reeeivable and payable, are initially measured at present value of the tUre cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently. at the undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangements of a short-tern] instrument constitttte a financing transacuon, like tbe payment of a trade debt deferred beyond nornlal business ternis or fallced at a rate of inteTest that is not a market rate or in case of an out-right short-term loan not at market rate, the fmancial asset or liability is measured, initiaIly, at the present value of the cash flow discounted at a market Tate of interest for a similar debt instrun]ent and subsequendy at amortised cost. Financial assets thar are measured at cost and amortised cost are assessed at the end of each reportll period foi objective evidence ofimpairnient. If objective evidence Df impainnent is found, an impairnient Ioss i5 Tecognised in the Income Statcmcnt. xi) Judgments in applying accounting policies and key sources of estimation uncertainty The preparation of the financial sratements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabllities as at the balance sheet date, and the amounts reported for revenues and expenses during the year. However, the llate of estimation uncertainty means that acttjal outcome5 could differ from these estimates. There are considered to be no key sources of estimation uncertainty or judgements which would have a significant ixnpact on the amounts recognised in the financial statements. Taxation No provision is made for taxation as the Charity is exempt due to the nature of its activities. Income from donations 2020 2019 Donations received 136,705 151,500 ement sen11S The management services of Michael Urwick were donated to The Hinduja Foundation by Sangam Limited in the current and prior year, which included any associated office accommodation costs. The arnount relating to these services is £1.500. 13
li TH Hll¥DUJA FOUNDATION li NOTES FoRMG PART OF THE ACCOUNTS (CONTI[ED) 31ST DECEMBER 2020 Costs of charAtable activities Unless otherwise stated, one donation was made to eath benefici&ry during the year. During 2020 and 2019 all donations have been made to instinltiolls, other than where stated. 2020 2019 The advancement of interfaith understanding Donatio International Society for Krishna Consciousnes5- 4 donation5 (2019- 4 donations) ISHA Foundation BAFS Swaminarayan Sanstha- I donation (2019 - 2 donations) St. Mary's the Virgin Church Siri GUTU Singh Sabha- 2 donations (2019 - 2 donations) 8,980 19,969 2,000 501 7,500 7,502 21,181 29,671 Other Global Leadership Foundation 5,000 The advancement of education UCL Development Fund Wadham College- University of Oxford St Paul's School 5,000 1,583 20,937 27,520 23,753 6,904 30,657 The relief of poverty, htynger and sickness Help the Ased PIan Intemational- 12 donations (2019- 12 donatiolls) Virto Hospitality- 3 donations (2019- niD Richard House Trust The Carin8 Family Foundation- 2 donations (2019- nil) The Felix Foundation Epilepsy Society Pancreatic Cancer UK Muknl Madhav Foundation POTS UK Barnardo's Concern for Mental HeaIth Centrepoint The British Asian Trust- I donation (2019- 2 donations) 144 576 11,000 600 16,000 10,000 5,000 5,000 io,oao 3,000 5,000 10,000 144 576 10.000 20.000 30,720 15,000 91,320 14
THE HtNDUJA FOUNDATION li li NOTES FORJItNG PART OF THE ACCOUNTS (CONTINUED) 31ST DECEMBER 2020 Costs of Charitable activities (continued) 2020 2019 Donations to promote cultural awareness and the atts Bharatiya Vidya Bhavan- I donation (2019- nil) Sl]ri Nathji Sanatan Hindu Mandir The Royal Opera House Covent CJarden The Serpentine Trust 2,000 2,501 1,000 2,51M) 4,500 6,001 Support and governance costs Management services Accountancy fees Print, post & stationery Sundries Auditors remuneration 1,500 1,200 1,500 1,200 25 73 46 1,200 3,946 3,998 TOTAL 101047 The Trustee5 received no remuneration or reimbursed expenses during 2020 or 2019. No employees received remuneration of More than £60,000 during 2020 or 2019. The salary of the Charity's Director Mr M Urwick, is borne by Sangam Limited. The auditors remuneration relates entirely to fees payable for audit services provided. no otheT services were provided during the current or prior year. All support costs relate to activities in relation to the giving of donations. Creditors: amounts falling due within one year 2020 2019 Trade creditors Accrnals 1,225 1,200 2,425 1,200 1,200 Related party dAsclosures Duriag the year the Cbarity ieeeived donations totalling £135,205 (2019 - £150,000) and donated management services totallin8 £1,500 (2019 - £1,500) from entities under the control of the Trystees, as detailed in note 3. No restrictions were applied to these donations. During the year the Charity donated £10,000 (2019- £nil) to Mukul Madhav Foundation UK, a Charity which is controlled by a fatnily member of the Trustees. 15
li THE HINDUJA FOUNDATION NOTES FORMING PART OF TItE ACCOUNTS (CONTINUED) 31ST DECEfvtBER 2020 Unrestricted Income Funds Balance at I January 2020 JAcoming resources Outgoing resources Balance at 31 December 2020 General funds 15,602 136,705 Balance at I January 2019 Incoming Tesources Outgoing resources Balance at 31 December 2019 General fimds (34,851 151,500 101,04 15,602 Analysis of Net Assets between Furtds Ftxed asset investments Net Cllent liabAlities Long terni liabiliti¢s Total Unrestricred fimds- as at 31.12.2020 (1,160) (1,160) Unrestricted fimds- as at31.12.2019 15,602 15,602 16