Unaudited Financial Statements Lord Rana Foundation Charitable Trust
For the year ended 31 March 2025
Lord Rana Foundation Charitable Trust
Contents
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 5 |
| Trustees' Responsibilities Statement | 6 |
| Independent Examiner's Report | 7 - 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Notes to the Financial Statements | 11 - 15 |
Lord Rana Foundation Charitable Trust
Reference and Administrative Details of the Charity, its Trustees and Advisers
For the year ended 31 March 2025
Trustees Lord D S Rana R Rana Charity registered number 102822 Principal office 60 Great Victoria Street Belfast BT2 7BB Accountants Grant Thornton Advisors (NI) LLP Chartered Accountants 12 - 15 Donegall Square West Belfast BT1 6JH Bankers Danske Bank Donegall Square West Belfast BT1 6JS
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Lord Rana Foundation Charitable Trust
Trustees' report
For the year ended 31 March 2025
The Trustees present their annual report together with the financial statements of the Charity for the 1 April 2024 to 31 March 2025.
The Charity register number is 102822 and the registered office is 60 Great Victoria Street, Belfast, BT2 7BB.
Objectives and activities
a. Background to Lord Rana Foundation Charitable Trust and its Policies and Objectives
The Lord Rana Foundation Charitable Trust was established by Trust Deed dated 26 November 1996.
The charity raises funds to provide free education to poor children living in rural areas of Punjab (India). The funds transferred help support the formation and extension of a major education complex to achieve this objective.
The direct benefit which flows from this purpose is promotion of knowledge, understanding and skills encouraging development, talent and employment. Benefits are evidenced through feedback from beneficiaries, stakeholders and funders. This purpose does not give rise to any harm. The beneficiaries of this purpose are people living primarily in Northern Ireland and India. A private benefit to trustees may arise from our programme of ongoing training in good governance, finance etc. through this training trustees gain skills and experience which are transferable to other settings. These skills are incidental and necessary to ensure the benefit is provided to the beneficiaries.
b. Main activities undertaken
Development of Education
The Trust works toward providing 3rd level education to the rural areas of Punjab. In the absence of this initiative in a rural district of Punjab, the poor children living here were deprived of university education which is only available in big cities. The trust funded a major building refurbishment and extension of a high school at village Hebowal (Punjab) in 1997-99, creating better facilities for students and teachers. As a result the school was upgraded to a higher secondary school.
Peace Initiatves in Northern Ireland and India
To Promote peace an Institute for Conflict Studies & Resolution Practices (ICS&RS) is being planned which is inspired by the 2007 report of the Commonwealth Commission on Respect and Understanding, ‘Civil Paths to Peace’, edited by Dr Amartya Sen (noted Indian economist and philosopher). It offers a means for Commonwealth members to demonstrate practically their endorsement of the Report’s recommendations. The project is constituted as a not-for-profit, charitable trust registered in both the United Kingdom and India.
Relief in Disaster Struck Areas
The Trust works towards providing relief and aid in disaster struck areas. In 2004 when a major Tsunami struck on the coasts of Srilanka and Southern India,.The LRFT provided emergency shelter and later on built 2 schools to facilitate education to the poor children
Medical Facilities in Rural Areas
The Trust is facilitating the construction of a modern and well-equipped charitable hospital, the area’s first such facility.
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Lord Rana Foundation Charitable Trust
Trustees' report (continued) For the year ended 31 March 2025
Objectives and activities (continued)
Community Development
Community development projects such as the introduction of computer courses for women, as well as courses in Art and Crafts. These will provide the skills needed for people to find employment and perhaps start their own small businesses.
Complex as a Role Model
In close partnership with the village Panchayat, the Trust's objective is to develop the Sanghol complex as a role model that other rural communities in the Punjab could replicate and thereby improve education, health, enterprise and general lifestyles
NNEdPro Global Centre for Nutrition and Health
The NNEdPro Global Centre for Nutrition and Health in Cambridge is an award-winning interdisciplinary thinktank, building upon over a decade of nutrition education, research and innovation. Anchored in Cambridge (UK), NNEdPro convenes central as well as regional networks across six continents geared towards developing adaptable and scalable educational models for nutrition capacity building in health systems. NNEdPro also conducts a range of training courses as well as primary research studies and syntheses to fill key evidence gaps.
The Lord Rana Foundation Charitable Trust (charity registration: RCT XR15072) was originally established to promote charitable and peace-making initiatives in Northern Ireland. In 1997 the trust shifted its focus to India, funding the refurbishment of a high school, and establishing educational facilities at Sanghol, near Chandigarh, Punjab. This has expanded steadily until it is now a 25-acre campus with several institutions offering education and training from nursery level to postgraduate studies.
The complementary strengths of the two organisations have been brought together in an agreement underpinning a strategic partnership between The Lord Rana Foundation Charitable Trust based in Northern Ireland and the NNEdPro Global Centre for Nutrition and Health in Cambridge, working closely with NNEdPro’s key academic collaborating institutions including Ulster University and the University of Cambridge.
Key examples of projects supported by the strategic partnership:
- The Mobile Teaching Kitchen Initiative in India and more widely Already established and operating since 2018, the 'Bhavishya Shakti' Mobile Teaching Kitchen initiative empowers women and communities by sharing knowledge and skills through the medium of nutrition education, with the aim to enhance health and wellbeing and tackle the triple burden of nutrition present in India The project was on track to be sustainable model to empower Indian slumdwelling mothers through entrepreneurship and nutrition education. To reach the stage of sustainability we need funds to support the Mobile Teaching Kitchen unit and ensure a respectable salary for the working mothers for the first few months in a full-scale production. Following the success of the initiative in India, The NNEdPro Global Centre would like to expand its MTK initiative to other parts of the globe.
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Lord Rana Foundation Charitable Trust
Trustees' report (continued)
For the year ended 31 March 2025
Objectives and activities (continued)
- The Nutrition Education Policy in Healthcare Practice (NEPHELP) Initiative in the UK and more widely Aims to train junior doctors, general practitioners and allied healthcare professionals about: The common problems with nutrition care in hospitals and the community; The use of appropriate screening tools to detect malnutrition; The basics of first line nutrition interventions; The need for assessment and management of nutritional deficiencies; Appropriate onward referral to specialist services. The team at NNEdPro hope to develop and spread the NEPHELP workshop further in order to reach as many healthcare professionals as possible within the area covered by the UK & Ireland NNEdPro Regional Network as well as other parts of the globe. It will be important to establish a sustainable pathway for implementing the project on a wider scale, especially to address the needs of general practitioners and allied healthcare professionals in primary care. This is likely where nutritional risk management of disease will have the biggest impact. Other potential innovations include improving the transfer of care between primary and secondary services regarding nutrition.
Achievements and performance
a. Review of activities
During the current financial year, we successfully progressed on all of the above listed activities. The financial performance of the Trust can be seen within the financial statements.
b. Investment policy and performance
There were no investments during the year, other than cash held on deposit in a current account.
c. Financial review
During the year the Trust made a loss of £11,890 (2024: £8,475). At the end of the year the Trust had net assets of £18,612 (2024 £30,502).
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The Trust holds reserves sufficient to meet the day to day requirements of operations.
Structure, governance and management
a. Constitution
Lord Rana Foundation Charitable Trust is registered as a charitable company and was set up by a Trust deed.
There have been no changes in the objectives since the last annual report
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Lord Rana Foundation Charitable Tru5t-: Trustees, report (continuLd) For the year ended 31 March 2025 Structur•J 9ov•rnon¢• and manag•m•nt (continu•d b. Methods ol 0ppolntm¢nt or ¢l¢¢tlon ol Trustees 'I'lie lrublLe wlio) bciTr'Ld dutiii{,' LIiL S'L 'LLL.. Loid D b Llll Illl . Ri8k mng•m•nt "I'lie "l LllStees Iiiive 11ssesstLI ilie Iii:ij<)L Ll%ks Loi wiliiilL ilL'ILLII' is fkl)L)StLI, iii i)klLULLilqi Liiiibe relALccI Ii) Ll)t opei'iuoiis iiid 111i11)ceE OF rlie cliii'iryy aiid 1Le tislied ¢1il¢ t sl'steiiis Liiid pi'ocedures in plicc tn InL[l¥[C oiir exp05LlIL' to thc inijoi rislcs. Apiii'civL'(i hip (Ir(l¢r nf rhe mcnihcrs nf thc l)r>iL rd <>F Tni8tce4 n11 lid sigiied on dicir be1121E b!.: {<-9 Lotd D S Ilana K Rkiiia Fa3e 5
Lord Rana Foundation Charilable Trust
Statement of Trustees, responsibilities
For the year ended 31 March 2025
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Lord Rana Foundation Charitable Trust
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Independent Examiner's Report
For the year ended 31 March 2025
Independent Examiner's Report to the Trustees of Lord Rana Foundation Charitable Trust
We report on the financial statements of the charity for the year ended 31 March 2025 which are set out on pages 9 to 15.
Respective Responsibilities of charity Trustees and Examiner
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008 ("the Charities Act").
It is our responsibility to:
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examine the accounts under section 65 of the Charities Act;
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follow the procedures laid down in the general Directions given by the Commission under section 65(9)(b) of the Charities Act; and
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state whether particular matters have come to our attention.
Basis of Independent Examiner's Statement
We have examined your charity accounts as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act.
Our examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.
Our role is to state whether any material matters have come to our attention giving us cause to believe:
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that accounting records were not kept in accordance with section 63 of the Charities Act;
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that the accounts do not accord with those accounting records;
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that the accounts do not comply with the accounting requirements of the Charities Act;
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that there is further information needed for a proper understanding of the accounts to be reached.
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Lord Rana Foundation Charitable Trust
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Independent Examiner's Report (continued)
For the year ended 31 March 2025
Independent Examiner's Statement
We have completed our examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention.
Grant Thornton Advisors (NI) LLP
Chartered Accountants 12-15 Donegall Square West Belfast BT1 6JH
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Lord Rana Foundation Charitable Trust
Statement of financial activities
For the year ended 31 March 2025
| Note Expenditure on: Charitable activities 4 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £ 11,890 11,890 (11,890) 30,502 (11,890) 18,612 |
Total funds 2025 £ 11,890 11,890 (11,890) 30,502 (11,890) 18,612 |
Total funds 2024 £ 8,475 |
|---|---|---|---|
| 8,475 (8,475) 38,977 (8,475) |
|||
| 30,502 |
All amounts relate to continued operations.
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 11 to 15 form part of these financial statements.
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Lord Rana Foundation Charitable Trust Balance sheet For the year ended 31 March 2025 202.1 Noie Curr•nl 48S•ts 27,612 37 7(12 (.".I'edirc)rs'. ainniilltl fillinl di.ie wirliiii niic i'rir (9,000) N•t curr•nt a¥s•t8 111,612 .311,5112 Total n•t assets 18,612 30,50?. Charlty funds LJiiic41 fiLI rd l-Lltkd 111,612 Total lun 18,(J12 311..502 Tlii, IitlAllC-,i',Il %txti'.iiic'.ii1s wi'.rc'. q¢ Plll'()fv¥LI SLiicI Auili(111sv(I l(Jr i5sur. l?i' I ]e'l ruslves ()ii aiid ¥iLiiittd i)ii ili¢ti bil)'IlE b),; Ijotd D S R&tia R Rana Ilic notcs on p2My¢.'s I I t() l i l()rrn parr lit Ih('s<. Iiiiiln¢-iAI 4lAI('In¢'nl'4. Page 1Q
Lord Rana Foundation Charitable Trust
Notes to the financial statements
For the year ended 31 March 2025
1. General information
Lord Rana Foundation Charitable Trust is an unincorporated Trust. Its registered office is 60 Great Victoria Street, Belfast, BT2 7BB. The charity registration number is 102822.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements are prepared on a going concern basis, under the historical cost convention unless otherwise noted in the accounting policies below. They have been prepared in accordance with applicable law and accounting standards issued by the Financial Reporting Council, including FRS102 “The Financial Reporting Standard Applicable in the UK and Republic of Ireland” (“FRS102”), and the Statement of Recommended Practice – Accounting and Reporting by Charities, effective 1 January 2019 (“SORP”).
Lord Rana Foundation Charitable Trust meets the definition of a public benefit entity under FRS 102.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The financial statements are prepared in sterling (£), which is the functional currency of the entity.
2.2 Going concern
The trustees have assessed that Lord Rana Foundation Charitable Trust has adequate resources to meet the ongoing costs of the entity for a minimum of 12 months from the date of signing the financial statements. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
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Lord Rana Foundation Charitable Trust
Notes to the financial statements
For the year ended 31 March 2025
2. Accounting policies (continued)
2.4 Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.5 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.6 Fund accounting
General funds are unrestricted 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 purposes.
3. Critical accounting estimates and areas of judgement
Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Trust makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results.
In the Trustee's opinions, there are no significant judgements, estimates and assumptions made about the recognition of assets, liabilities, incomes and expenses.
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Lord Rana Foundation Charitable Trust
Notes to the financial statements
For the year ended 31 March 2025
4. Analysis of expenditure by activities
| Accountancy Bank charges Donations Total 2025 Accountancy Travel expenses Bank charges Donations Project costs Total 2024 |
Activities undertaken directly 2025 £ - - 10,060 10,060 Activities undertaken directly 2024 £ - 1,114 - 500 5,030 6,644 |
Support costs 2025 £ 1,800 30 - 1,830 Support costs 2024 £ 1,800 - 31 - - 1,831 |
Total funds 2025 £ 1,800 30 10,060 |
|---|---|---|---|
| 11,890 | |||
| Total funds 2024 £ 1,800 1,114 31 500 5,030 |
|||
| 8,475 |
5. Independent examiner's remuneration
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's independent examiner for the independent | ||
| examination of the Charity's annual accounts | 1,800 | 1,800 |
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Lord Rana Foundation Charitable Trust
Notes to the financial statements
For the year ended 31 March 2025
6. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year, no expenses were reimbursed to Trustees (2024: £1,114 was reimbursed to 1 trustee).
7. Creditors: Amounts falling due within one year
| Amounts owed to group undertakings Accruals and deferred income |
2025 £ 5,400 3,600 9,000 |
2024 £ - 7,200 |
|---|---|---|
| 7,200 |
8. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Statement of funds - prior year Unrestricted funds General Funds - all funds |
Balance at 1 April 2024 £ Expenditure £ 30,502 (11,890) Balance at 1 April 2023 £ Expenditure £ 38,977 (8,475) |
Balance at 31 March 2025 £ 18,612 |
|---|---|---|
| Balance at 31 March 2024 £ 30,502 |
There were no restricted funds in current or prior period.
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Lord Rana Foundation Charitable Trust
Notes to the financial statements
For the year ended 31 March 2025
9. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Current assets Creditors due within one year Total |
Unrestricted funds 2025 £ 27,612 (9,000) 18,612 |
Total funds 2025 £ 27,612 (9,000) |
|---|---|---|
| 18,612 |
Analysis of net assets between funds - prior year
| Current assets Creditors due within one year Total |
Unrestricted funds 2024 £ 37,702 (7,200) 30,502 |
Total funds 2024 £ 37,702 (7,200) |
|---|---|---|
| 30,502 |
10. Related party transactions
The Trust is connected to Andras House limited by virtue of common control. In the year the Trust was advanced net funds of £5,400 (2024: £Nil). At the year end the amount owed to Andras Houe was £5,400 (2024: £Nil).
11. Post balance sheet events
There have been no significant events affecting the charity since the year end.
12. Controlling party
The ultimate controlling party is deemed to be the Trustees.
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