Clwity Registration No. 802756 11 THE HtNDUJA FOUNDATION AI¥JNUAL REPORT AND FINANCIAL STATEMENrs FOR THE YEAR ENDED 31ST DECEMBER 2023
THE HtNDUJA FOUNDATION 11 LEGAL AND ADMINISTRATIVE DETAILS 11 Registered Charity Name The Hinduja Foundation ChaTAty Number 802756 Governing Instrnment The Hinduja Foundation was established under a Trust deed dated 5th December 1989 that gives the Trnstees wide ranging investment powus. It subsequently became registered as a charity under number 802756. TteeS Gopichand P. Hinduja Prakash P. Hinduja Sanjay G. Hittduja Dheeraj G. Hinduja Principal Ilddr&ss 12 Charles II Street 1st FIoor London SWIY 4QU Bankers Barclays Bank plc I Churchill Place London E14 5HP Auditors Lubbock Fine LLP Chartered Accountants & Registered Auditors Paterlloster House 65 St Paul's Churchyard London EC4M 8AB
THE HtNDUJA FOUNDATION TRUSTEESY REPORT The Trustees present their annual Teport together with the audited financial statements of The Hinduja Foundation (the Charity) for the year ended 31 Dernber 2023. The Trustees confffm that the Annual Report and financial statements of the Charity comply with the current statutory requirements, the requirements of the Charity's governing document, the Charities Act, and the provisions of the Statement of Recommended 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) (effertive l January 2019). Objectives The Charity's objectives aTe the advancement of education and medicine throughout the worId, the reltef of povety, hunger and sickness and the advancement of interfaith understanding. Further objectives are to promote study and research ittto: a) the social, economic and other causes of the underdevelopment of nations. b) how nations can achieve a higher rate of economic and social development. c) relationships between developing and developed countiies, and d) international efforts to aid development. Organisation The Trnstees who served during the year and since the year end are set out on page l. The trustees were saddened by the sad passing of STichand P Hinduja on 17 May 2023, who was Chairman of Trustees of the Hinduja Foundation UK since its inccption in 1989. The power to appoint Trustees is vested in existing Trustees. In accordallce with the Trust deed, the longest serving third of the Trustees retire every two years, however retired Trustees may be re-appointed by the continuing Trustees. During tbe year The Hinduja Foundation was managed by the Trustees who are assisted by Mtchael Urwick, its Dircctor. .1 lie Trnstees continuously review their cornpetencies and are conscious of th¢ necd iu Uk¢lilltdill (i bdl(tAiCf of skills. PerÈodically additional membcrs may be invited to become Trustees and this would involve a caTeful vctting ptocess by the cullent Tn]stees to ensure any new member is awa of his/her responsibilities towards the Charity. New Trnstees would be briefed on their legal obligations under charity law, the content of the governillg document, the decision-nmking processes and the re[Lt financial perfOrnllee of the Charity. Public Benefit In setting objecttves and plannillg the activity of the Charity in 2023 and beyond, the Trnstees continue to give careful consideration to the Charity Commission's general guidance on public benefit. Review of the Foundation s activities During the year the Trustees of The Hinduja Foundation approved donations totalling £3,019,192 (2022 - £246,099). The largest donation paid was made to Corporation of Kings, College London for £2,643,486 (2022 - donation of £IOQ,000 to Mukul Madhav Foundation). As at 3 1st Decembu 2023, after allowing for all amounts owed, a deficit of £2,642,446 (2022 - deficit of £12,084) for the year remained, The Hinduja Foundation anticipates that sufficient fijnding will continue to be received to enable them to make tsrth donations and maintaill its administration. During the year, donations receivable from Hinduja Investments & Project servIs Limited totalled £133,707 (2022 - £160,978), from Gulf Oil International Limited totalled £50,000 (2022 - £4,000), from AMC PTOjCCt Services Linuted totalled £50,000 (2022 - £50,000), from Hillduja Automotive Limited totalled £7,381/$10,000 (2022- £32,105), from Sangam Limited totalled £200 (2022 - £nil) and from Westminster Development Services totalled £150,000 (2022 - £nil).
THE HllNDUJA FOUNDATION 11 TRUSTEES, REPORT Futhre Plans The Charity will continue to provide lldIng to vaTiOUS charities and b(Klies in accordance with the objectives of the Charity as stated above, GTants Policy The Hinduja Foundation grants donations to causes and charities in line with the objectives stated above including those advocating the advancernent of interfaith understanding, the advancement of education, the relief of poverty, hunger and siclmess, pn)moting CUlra1 awarelless and the arts and the advancement of methcine. eserycs Policy It is the policy of The Hinduja Foundation to maintain funds, which are free reserves of the Charity, at a level which covers admillistrative costs and grant applications thIoughout the year. As at 31 December 2023 the Charity's free reserves were in a deficit of £2,642,446 (2022- deficit of £12,084). The TteeS will continue to take steps to increase reserves to the desired level. Risk Managcment The principal risk of the ChaTAty is whether the Charity is able to secure sufficient donations to fund its charitable activities. This risk is mitigated by the Trustees aurillg that it only enters into commitments to provide donations when there are sufficient fimds available to do so, or whether further donations can be secured to fund such commitments. The Trustees have ensured procedures are in pla to identify the business and operational risks facing the Charity and have ensured iicliull ib tdkui to J]iitigatc those risk5. Connected organisations Mr Gopichand P Hinduja and Mr Prakash P Hinduja are also Trnstees of the following charities: Hinduja Foundation (Europe), Hinduja Foundation (USA) and Hinduja Foundation (India). The Hinduja Foundation is also connected with the Hinduja Foundation Limited, a company registered in Liberia, The piincipal contact ad(tresses of the connected organisations are as follows: Hinduja Foundation (India), Plot C-21, G-Block, Bantha Kurla Complex, Bandra (East), Mumbai- 400051, Maharashtrd, India. 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 Limited (Liberia), c/0 Hinduja Advisory Services S.A., 3 bis Place de la Fusterie, 1204 Geneva, Switzerland.
THE HINDUJA FOUNDATION 11 TRUSTEES? REPORT Trnstees, responsibilities statement The Truste are responsible for preparing the Trnstees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales Tequires the Trnstees to prepare financial statements for each financial year which give a true alld fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these finallcial statements, the Trustees are Tequired to: select suitable accounting policies and then apply them consistently. obserye the methods and principles in the Charities SORP; ii) iii) make judgements and estimates that ue reasonable and prudent; state wlLether applicable UK Accounting Standards have been followed, subject to any material departures (lisclosed and explained in the financial statements. and prepare the financial statements on the going concetn basis unless it is inappropriate to presume tILat the Charity wilL continue in opuation. The Trustees are responsible for keeping proper accounting records that are sufficient to show and Lyplain the Charity's transactions and disclose with reasonable accuracy at any time the fLnanciaI position of the Charity and enable them to ensure that the financial statements 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 safeguardmg the assets of the Cbariry and hence for raking reasonable steps fur picvciitlull (tjid dctcctioii of fraud and other irregularities. iv) DAsclosuTe of inforniation to auditor Each of the persons who are trustees at the time when this Trustees, Report is approved has confinned that: so far as the trustee Is awe, there is no relevant audit inforn]ation of which the Charity's auditors are unaware, and the trnstee has taken all the stq)s that ought to have been taken as a trustee in order to be aware of any relevant audit inf0MtiOll and to establish that the Charity's auditors are aware of that information. AUDITOK A resolution to re-appoint Lubbock Fine LLP as auditor for the ensuing year will be proposed at the general meeting. On behalf of the Trustees S.G. HINDUJA TRUSTEE Dated: 2 5 0 ott)64r 202 +
THE HINDUJA FOUNDATION 11 INDEPEIYDENf AUDITORSY REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31stDECEMBER 2023 OPINION We have audited the fllmncial statements of The Hinduja Foulldatloll (the 'Charity') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, and the related notes, including a summary of significant accounting policles. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial ReportKng Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, Cunited Kingdom Generally Accepted Accounting Practice). In our opinion the funCIal statements: ve a true and fair view of the state of the Charity's affairs as at 31 December 2023 and of its incoming resources and application of Tesources, including its income and expenditure for the year then ende&. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordan with the Tcquirements 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 responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the fmancial statements section of our report. We are indyndent of d]e Charity in accordance with the ethical requirements that are relevant to ow audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fillfilled our other ethicaI responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate 10 provide a basis for our opiniuu. CONCLUSIONS RELATING TO GOll¥G CONCERN In auditing the financial statements, we have concluded tbat the Trnstecs, use of the going concern basis of accounting in the preparation of the financial statemellts is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, in(lividually or collectively, may cast doubt on the Chaiity's abllity to continue as a going concern for a period of at least twelve months from when the fmanaal statements are authorised for issue. Our responsibilities and the responsibilities of the Trnstees with respect to going concern are described in the relevant sections of this report, OTHER INFORMATION The other inforniation comprises the inforniation included in the Ilnnual Report other than the financial statements and our Auth'tors, Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not COV the other information and, exccpt to the extent otherwise explicitly stated in our Teport, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other inforniation and, in doing so, consider whether the other information is nmterially inconsistent WLth the financial statements or our knowledge obtained in the course of the audit, or otheVise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to deterniine whetber this gives rise to a material misstatement in the financial statements themselve5. If, based on the work we have perfornied, we conclude that there is a material misstatement of this other information, we are required to Teport that fact.
THE HtNDUJA FOUNDATION 11 INDEPENDENT AUDITORSJ REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31" DECEMBER 2023 (CONTINUED) We have nothing to xeport in this regard. MATJERS ON WHICH WE IIRE REQUIRED TO REPORT BY EXCEPTION We have nothing to report in respect of the following matt5 in relation to where the CharitLes (Accounts and Reports) Regulations 2008 requires us to report to you rf, in our opinion: the information given in the Trustees, Report is inconsistent in any terIal respect with the fmancial statements. or sufficient accounting records liave not been kept; or the financial statements are not in agreement with the accounting records. or we have not received all the infoimation and explanations we require for OUT audit. RESPONSIBILITIES OF TRUSTEES As explained more fillly in the Trustees, Responsibilities Statement, 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 internal control as the Trnstees detennine is necessary to enable the preparation of fmancial statements that are free from material misstatement, whether due to fraud or error. In preparing the fanCIal statements, the Trnstees are resyonsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to tiquidate the Charity or to cease operations, or have no realistic alternative but to do so. AIJDITORS, RESPONSIBILITIES FOR TIIE AI]Drr OF THE Fll*lANCIAL STATEMENTS We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. OUT objectives are to obtain reasonable assuran about whether the fmancial statements as a whole are free fro material misstatement, whether due to fraud or ettor, and to issue an Auditors, Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material rnisstatement when it exists. Mtsstatements can arise from fraud or ettor and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. IegularItieS, including fraud, are instances ofnon-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
THE HINDUJA FOUNDATION 11 INDEPENDENT AUDITORS? REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31" DECEMBER 2023 (CONTINUED) In identifying and assessing risks of material misstatement in respect of iuegularities, including fraud and noncomptiance with laws and regulations, we considered the following: The nature of the sectoI and the impact of the cost of living crisis on financial and operating perfonnance and polickes Enquiries of management, including obtaining and reviewing supporting documentation, concerning the charity's policies and procedures relating to: identifying, evaluatillg and complying with laws and regulations and whether they were aware of any instances of non-compliance detecting and responding to the risks of fraud and whether they have l(nowledge of any acttial, suspected or alleged fraud; and o the internal controls estabLished to mitigate risks related to fraud or non-compliance of laws and regulations. and Discussions among the engagement team regarding how and where fraud might occur in the financial statements and any potential indicato of fraud. The engagement team indudes staff who have extensive experience of working with charities in similar sectOTS and this experience was relevant to the discussion about where fyaud 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 determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Charities Act and ChaTities SORP 2019. In addition, we considexcd provisions of other laws and regulations that do not have a direct effect on the financial statements but Complian wittL which may be fimdamentdl tu LhdIily'b <ibilily to opcratc or to avoid a material penalty. These included health and safety regulations and envirollllLental regulations. As a result of these procedures, we considered the particular areas that were sllsptible to misstatement due to fraud were in respect of whether donations payable were in line with the Chaiity's objectives, management oveIde and occurrence of expellditure. Our procedures to respond to risks identified included the following.. reviewing the financial statement disclosures a] testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements. cnqujring of management concerning actual and potential titigation and daims. performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material mlsstatement due to fraud. reviewing donations payable on a sample basis to assess whether they are in line with the Charity's objectives; in addressing the risk of fraud through management overyide of controls, testing the appropriateness of journal entries and other adjustmeiits. assessing whether the judgements made in making accounting estimates are indicative of a potential bias. and evaluating the rationale ofany significant transactions that are unusual or outside the nonnaI course of the charity's operations. Agreeing expenditure on a sample basis to verify validity. Because of the inherent limitations of an audit, there is a risk that we will not detect all irreguIarities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk illcreases the more that compliance with a law or Tegulatioll is removed from the events and transactiolls reflected In the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than effor, as fraud involves intentional concealment, foigery, collusion, omission or misrepresentation.
THE HtNDUJA FOUNDATION 11 INDEPENDENT AUDITORS) REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31" DECEMBER 2023 (CONfiNUED) A rther description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.ftc.org.uk/auditorsresponsibilities. This descriptÉon forms part of our Auditors, Report. USE OF OUR REPORT This report is made solely to the Charity's Trnstees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Trustees those matters we are required to state to thern in an auditor's report and for no other puOSe. To the fullest extent permitted by law, we do not accept or assume Tesponsibility to anyone other than the Charity and the Charity's Trustees as a body, foi our audit worK for this report, or for the opinions wc have formed. FIML (If Lubbock Fine LLP Chartered AccounLints & Statutory Auditors Paternoster House 65 St Paul's Churchyard London EC4M 8AB Date.. 25 October 2024 Lubbock 14'ine LLF eligjble for appointment as auditor of th¢ LhixriLy by viituc of its eligibility for appointment as auditOT of a company under section 1212 of the Companies Act 2006.
THE HtNDUJA FOUNDATION 11 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEIIR ENDED 31- DECEMBER2023 Notes 2023 2022 Income from Donations 392,788 248,583 Total income 392,788 248,583 Expenditure on Cbaritable activities 3,023,150 250,008 Total expenditure 3,023,150 250,008 Net income (2,630,362) (1,425) Net movement in funds (2,630,362) (1,425) Reconciliation of fimds Total fiin(L8 at I ,Tanuary 2023 (12,084) (10,659) Total funds at 31 December 2023 (2,642,446) (12,084) All activities relate to continuiJ]g operations. All amoullts relate to unrestricted funds only. The notes on pages I I to 16 forni part of these financial statements.
THE HtNDUJA FOUNDATION 11 ST BALANCE SHEET AS AT 31 DECEMBER 2023 Notes 2023 2022 CURRENT ASSETS Cash at bank 3,440 6,684 Creditors: amounts falling due within one year (502,400) (18,768) NET CURRENT LIABILITIES (498,960) (12,084) NON CURRENf LIABILITIES Creditors.. arnounts falling due after more than on year (2,143,486) NET LIABILITIES (2,642,446) (12,084) REPRESENTED BY: TRUST FUND - Unrestricted fun (2,642,446) (12,084) Approved by the Trustees on Z C O otob&i and signed on their behalf by S.G. HtNDUJA TRUSTEE The notes on pages I I to 16 form part of these financial statements. io
THE HtNDUJA FOUNDATION 11 NOTES FORMING PART OF THE ACCOUNTS 11 31" DECEMBER2023 Accollnting policies Basis of accounting The financial statements have been prepared under the historlcal cost convention with ltell recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The f£nancial statements have been prepared in accordan with the Statement of Recommended Practice.. Accounting and Reporting by CharAties preparing their accounts in accordan with the Finallcial 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 the Charities Act 2011. The ChaTity constitiJtes a public benefit entity as defined by FRS 102. li Going collcern The Charity is in the main retiant upon donations to raise revenue to meet future expetkditure. The Trustees consider that it is appropriate to prepare the fillancial statements on the goxng concern basis. This assessment is on the basis of confirniation received from related entities that they would lla any shortfall should the Charity not receive sufficient donations from third parties. If the charity is unable to continue in operational existence for the foreseeable futsre, adjustments would have to be ade to reduce the balance sheet values of the assets to their recoverable amounts and provide for further liabilities that may arise. ilk Funds Geiieral funds are unrestricted funds which are available for use at the discretion of the Trustees in rtherance of the general objectives of the Charity and which have not been designated for other puOses. Where specific donations and other iticome are received for a particular charitable purpose, these are allocated to a TestTiCted fund and expenditure incurred for that purpose is applied against the fund. The Charity had no restricted fldS in either 2023 or 2022. iv) AII income is recognised once the Charity has entidement to the income, it is probable that the income will be received and the amount of income receivable can be measured ieliably. The value of donated services is recognised at the market value of the services received. It is classified as incoming resources as the Trustees consider it provides a true and fair view of the operations of the Charity. A correspollding expense is also recognised. Income
THE HtNDUJA FOUNDATION 11 NOTES FORMING PART OF THE ACCOUNTS (CONTINUED) 11 31- DECEMBER 2023 Accounting policies (continued) Resources expended All expendittire is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to the appjicdble expenditure headings. Expenditure is recognised once there is a legal or constructive obligation to make payment to a third party, it is probable that setdement will be required and the amount of the obligation can be measur ed 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 chaiitable activities. Governance costs are those costs incurred in relation to the governance of the Charity and relate exdusively to the auditors remuneration. vi) Inecoverable VAT The Charity is not registered for VAT and its expenses are therefore inclusive of VAT which cannot be recovered. Vll Cash and cash equivalents Cash is representcd by rash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that ntllre in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. vill) CTeditors and provisions Cre(litors and provisions are recognised where the Charity has a present obligation resultÉng from a past event that will probably result in thc transfer of funds to a third paty and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are nornially recognised at their settlement amount after allowing for any trade discounts due. 12
THE HtNDUJA FOUNDATION 11 NOTES FORMtNG PART OF THE ACCOUNTS (CONTINUED) 11 31- DECEMBER2023 Accounting policies (continued) Financial iJL8truments The Charity enters into basic fJnancial instruments transactions that rcsult in the recognition of fmancial assets and liabilitkes like tsade 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 receivable and payable, are initially measured at present value of the futtjre 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, initÈally and subsequently, at the undiscounted amount of the c&sh or other consideration expected to be paid or received. However if the arrangements of a short-terni instrument constitute a fEnancing transaction, like the payment of a trade debt deferred beyond nornthl business tern or fllLanced at a rate of interest that is not a market rdte OT in case of an out-right short-tenn loan not at market rate, the financial asset or liability is measured, initially, at the present value of the tUre cash flow discoiinted at a market rate of interest for a sitDilar debt ItrLUllCnt and subsequently at amortised cost. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairnient. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement. Judgments in applying accounting policies and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assuTllPtions that affect the amounts reported fox assets and liabilities as at the balall sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation uncertainty means that actual outcomes could differ from tliese estimates. There are considered to be no key sources of estimation uncertainty or judgements which would havc a significant impact on the amounts recognised in the fmancial statements. Taxation No provision is made for taxation as the Charity is exempt due to the nature of its activities. Income from donations 2023 2022 Donations received 392,788 248,583 Donated mana ement services The management services of Michael Urwick were donated to The Hinduja Foundation by Sangam Limited in the current and prior year, which included any assockated office accommodation costs. The amount relating to these services is £1,5W. 13
THE HINDUJA FOUNDATION 11 NOTES FORMING PART OF THE ACCOUNTS (CONTINUED) ST 31 DECEMBER 2023 Costs of charitable actlVAties Unless otherwise stated, one donation was made to each benefIciary during the year. During 2023 and 2022 all donations have been made to institutions, other than where stated. 2023 2022 The advancement of Interfaith understanding Donatson5 International Society for Krishna Consciousness - 7 donations (2022- 11 donations) Venkata Krishna Vrundavana Shri Vallabh Ni(Ihi- 6 donations (2022 - 7 donations) Central Gurdwara British Isles London- 2 donations (2022 - nil) St James's Church Piccadilly BAPS Swaminarayan Sanstha- I donation (2022 - 3 donations) Sadhu Vaswani Centre Siri Guru Singh Sabha- 2 donations (2022 - 3 donations) 20,648 28,998 25,501 10,510 3,003 5,000 5,001 1,001 2,200 72,864 7,507 4,004 1,001 3,300 44,810 The advancement of education Women's India Association Path to Success Avanti Court Schools Trust Educational donation for S Sharnia Coryoration of Kings, College London Ray-cen Limited Sarla Foundation City of London School St Paul's School 2,000 4,000 4,000 250 15,672 2,643,486 450 2,000 2,500 7,500 2,670,908 16,973 14
THE HINDUJA FOU]NDATION 11 11 NOTES FORMING PART OF THE ACCOtrNTS (CONTINUED) 31- DECEMBER 2023 The ielief of povertyi hunger and sickness Help the Aged Plan InteInational- 12 donations (2022 - 12 donations) 144 576 144 576 Savitti Waney Charitable Trust Semble Grassroots Trust The Caring Fan]ily Foundation- I donation (2022 - no donation) Elara Foundation Royal Free Hospital Cereneo Scliweiz - Medical care for Partl]iv Mehta AMSL Aurora Charity Mul(ul Madhav Foundation Silver Star Diabetes The Loomba Foundation Lady Garden Foundation The Felix Project- 2 donations (2022- nil) Make a Wish Foundation Akshaya Patra Foundation B S Sandhu - Mental health Awareness Week ZaTach Age UK London Alzheimer's Society The British Asian Trust - O donation (2022 - 1 donation) 2,500 7,500 30,000 5,IK)O 5,000 10,000 10,000 10,000 100,000 110,000 5(X) 10,000 1,000 100,000 20,000 7,000 1,000 2,500 10,000 5,000 1,000 15,000 176,720 15,(K)O 272,720 Enyironnwital Protcctlon Beavei Trust 200 15
THE Hll%lDUJA FOUNDATION 11 11 NOTES FORMtNG PART OF THE ACCOUNTS (CONTllYUED) ST 31 DECEMBER 2023 Costs of charitable &ctiYities (continued) 2023 2022 Donations to promote cultural awareness and the arts Bharatiya Vidya Bhavan - I donation (2022 - 1 donatiotL) Writer of Omniambient The Rajasthan Foundation 2,500 5,096 2,500 7,596 Support and governance costs Management services Accountancy fees Sundries Auditors remuneration 1,500 1,200 58 1,500 1,200 3958 3,909 TOTAL 3 023 150 250,008 The Trustees received no remuneration or reimbmsed expenses duiing 2023 or 2022. No employees received r¢VDeratIOn of more than £60,000 during 2023 or 2022. The salary of the Charity's Director Mr M uICk, is borne by Sangam Limited. The auditors rernuneration relates entirely to fees payabIe for audÉt services provided. no other seIceS 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 2023 2022 Trade creditors Accruals 2,400 500,000 502,400 2,400 16,368 18,768 Creditors: amounts falling due after more than one year 2023 2022 Acezuals 2,143,486 2,143,486 16
THE EtIlWUJA FOUNDATION 11 11 NOTES FORMtNG PART OF THE ACCOUNrs (coiwrINUED) 31- DECEMBER 2023 Related party disclosures During tlie year the Charity received donations totalling £391,288 (2022 - £247,083) ftom entities under the control of the Trustees, and donated management services totalling £1,500 (2022 - £1,500) to Sangam Limited, an entity undu the control of the Trustees, as detailed in note 3. No restrictions were applied to these dollations. During the year the Charity donated £l10,O(K) (2022 - £100,000) to Muk[ Madhav Foundation UIC, a Charity which is controlled by a family member of the Trustees. During the year the Charity purchased accountancy services totalling £1,200 (2022 - £1,200) from Finac Seryices Limited, an entity under the control of the Trustees, as detailed in note 4. Unrestrictcd Incomc Funds Balance at I January 2023 IncomAng resources Outgoing resources Balance at 31 Decenther 2023 General funds 12,084 392 788 3 023,150 2,642,446 Balance at I January 2022 Incoming Tesources Outgoing Iesources Balance at 31 December 2022 General funds 250 008 Analysis of Net Assets between Funds Ftxed asset investments Net current liabilities Long terni liabilities Total Unrestricted funds - as at 31.12.2023 (2,642,446) (2,642,446) Unrestricted funLls- as at 31.12.2022 12,084 12,084 17