RAM FOUNDA TION FINANCIAL STA TEMEhlTS FOR THE YEAR ENDED 31 AUGUST 2024 DIRECTOR'S REPORT The director presents the annual report together with the financial statements for the year to 31 August 2024. STATEMENT OF DIRECTOR'S RESPONSIBILITIES Company law requires the directors to prepare financial statements for each financial period which give a true and fair view of the state of the affairs of the company and of the profit or loss of the company for that period. In preparing those financial statements the dirertors are required to select suitable accounting policies and then apply thern consistently; make judgements and estimates that are reasonable and prudent: prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The director has. elected to prepare the financial statements in accordance with UK GAAP and confirm that under company law. he. must not approve the financial statements unless he is satlsfied that they give a true and fair view'of the state of the company's affairs and of the surplus or deficit for that period. The reporting framework that has been applied is the Charities SORP (2015) FRS 102 The director is SpOnsIble.f0r keeping proper accounting records which disclose with reasonable accuracy at any time" the financial position of the company and to enable them to ensure the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. AIMS AND OBJECTIVES The'organi5ation endeavours to carry out its purposes by working in partnership with credible NGOS to deliver relevant projects-in partnership with the organisation to the intended beneficiaries. Our objectives are The advancement of education The advancement of health or the saving of lives The relief of those in need by reason of youth. age. ill-health, disability. financial T.he advancement of the education and the political awareness of young people in Northern Ireland for the public benefit by developing their mental. physical, political and rnoral capabilitie5 through appropriate organised activities and without distinction of. sex. sexual orientation, race or of political. religious or other opinions ' The advancement of the health and educational needs of children of any socially and/or economically disadvantaged community for the public benefit in such countrie5 as considered appropriate by the directors of the charity ,-The relief of those in need by reason of natural or other kinds of disaster (including those who are victims of war) through the provision of financial assistance. for the public benefit,. for persons. bodies, organisations and/or countries affected in such countries as.the"directors of.the charity deem appropriate.hardship or other disadvantage APPLICATION OF INCOME AND PROPERTY The property of the company must. be applied for purposes in accordance with section 2 of the Charities Act (Northern Ireland) 2008. Page 3
RAM FOUNDA TION FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 I)IRECTOR'S REPORT (continued) MEMBERSHIP The company has one member, the initial subscriber, Mr Suneil Sharma. Membership is open to other individuals or organisations who". apply to the companyin the form required by the director. and are approved by the director. The direttor may only refuse an application for membership if, acting reasonably and properlyi they consider it to be in the best interest5 of the company to refuse the application. The director must inform the applicant in writing of the reasons for the refusal within. twenty one days. of the decision. He must consider any written representations the applicant may make about the decision and the decision following any such representations must be notified to the applicant in writing and is final. Membership 15 not transferable. The director must keep a register of names and addresses of the members. ..Membership is terminated if the member dies or, if it is an organisation. ceases to exist, if the member resigns, if any sum due by the member to the company is not paid within six monthsor if the member is removed from membership by the director in the manner required by the comparsy'5 Articles of Association. RESULTS The Net Incoming R"e50urces for the year amounted to £10,923 .{2023: -£13,386 ) FINANCIAL REVIEW AND RESERVES POLICY Flinds were generated during the year from donations. verves.at 31 August 2024 were £130,767 all of which are readily available fiinds covering many year5, running.costs. Currently. the core ¥OSts are minimal and are funded by the Surplus of income raised over the direct costs. Expenditure is planned to Satisfy the objective5 of the company therefore at .present prattically.all expense is directly for the charitable purposes durin9 the year. General fund5 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 oth'er purposes. Designated funds comprise unrestricted fund5 that have been set aside by the trustees for particular purposes. Restricted funds are fund5 which are to be used in accordance with specific restrictions imposed by donors or. which have been raised by the charity for particular purposes. The c05t of raising and administering such funds are charged against the specific fund. ACTIVITY DURING THE YEAR . During the year the charity performed its activitie5 a5 well as was allowed given the continuing recovery from coronavirus measures. Efforts were concentrated in providing funds to disadvantaged communities. Page 4
RAM FOUNDA TION FINANCIAL STA TEMENTS FOR THE YEAR EIVDED 31 AUGUST 2024 DIRECTOR'S REPORT (continued) IMPACT OF COVID-19 The impact caused by COVID-19 is now very much eliminated and the effect of such disruptions in the future, minimised. GOING CONCERN The director, having considered the company's income streams, financial means and strategy for dealing with issues such as the impart of Covid-19, over the next 12-18 months, is satisified that the going concern basis is appropriate. FUTURE PLANS The company's current funding and cost Structure is stable and it intends to continue in this way in the near future so that the current services will continue to be offered where needed. RELATED PARTIES The company carries out no transactions with any related party. TAX STATUS Application has been made to have KAM Foundation registered as a charity with Inland Revenue. The company is registered with the Charity Commission for Northern Ireland. INDEPENDENT EXAMINER The independent examiner, Mrs N Taylor'FIATI of Messrs Minshull & Company, Chartered Accountants and.Statutory.Auditor,. offers herself for re-appointment as indeperldent examiner. BY ORDER OF THE COMMIfrEE S Sharma DIRECTOR Date 19 May 2025 Page S