Annual Report and Accounts for the Karunalaya Foundation SCIO known as Karunalaya 1 St April 2022 to 31 St March 2023 Scottish Charity No SC044418 Karunalaya Foundatkn SCIO s￿￿Lsh CIMrity rKI SC044418 Year End 31*t March 2023 INDEX Page Referen￿ & Administrative Information Trustees Annual Report: Structure Governan￿ & Management Objectives & Activitres Achievements & Perfomance Financial Review Annual Accounts Notes to the Accounts Independent Examiners Report Karunalaya F￿nd*On SCIO Soxish Chaiity ￿ ￿044418 Year End 3111 Marth 2023 Reference & Administrative Infonnation Charity Nam•: Karunalaya Foundation SCIO Known as: Karunalaya Scottish Charity No: SC044418 Charity Principal Address: Flat 2r2 41 Finnart Street GREENOCK PA16 8HB Name of the Charity Tru8tee8 on date of Trustee3 Annual Report: Chairperson Secretary Treasurer TnEtee Names of any other Charity Trustees during the period: None Independent Examinor: Bankers: Barclays Bank 120 Bothwell Street GLASGOW G2 7JS Karunalaya FouThJation SCIO So)ttsh Chty rK) SC044418 Year EThJ 31¥t March 2023 Structure Governance & Management Type of Governing Document The Foundalion was set up by Maria Agueda Carabajal arxl Espen Thomassen and was recognised as a Scottish Charity with effect from 13 November 2013 (SCIO). The Foundation is administered in accordance with the temis of the Constitution. Trustse Recruitsnent & Appointsnent Membership is open to any individual aged 16 or over who strive ft)r the promotion, betterment and good purpose of the organisalion. At each AGM, the members may elect any member to be a charity trustee. A charity trustee retiring at an AGM will be deemed to have been re-elected unless.. Helshe advises the board prior to the conclusion of the AGM that helshe does not wish to be re-appointed as a charty trust￿. or 2 An election process was held at the AGM and helshe was not among those electedlre-elected through that process" or 3 A resolution for reolection of that charity trust* was put to the AGM and not carried. Objectlves & Activities of the Charty Charltable Purposes of the Charlty is: The prevention or relief of povety The advancement of education The advancement of health The advancement of citszenship or communty development The advancement of public participation in sport The provision of recreational facilities, or the organisation of recreational activittes, wth the object of improving the condrtions of life for the persons for whom the facilrties or activities are primarily intended The relief of those in need by reason of age. ill health, disabilty. financial hardship or other disadvantage Main activities in relation to the above Purposes The main activty we're directly focusing on as an organisation is the advancem8nt of education amongst street and underprivileged kids. All our activff(ies are aim to support the 'Supplementary Education Program: No kid left behind,. We are also provFding support to enhance their digital and overall branding strategy. K￿nalaya Fwdakn SCIO cliish Charity ￿ Th4418 Ythr End 31st Marth 2023 Achievements & Perfomiance in the Financial Period During the accounting period the charity received £35.77 in donth'ons. There was as well a contra payment of the charitys web domain renewal for 2022-2023 (https:ltharunalaya.ngo) for £35.77. The Karunalaya Foundation board holds Skype Conferen￿ meetings at least 2 times a year. including the AGM. Each conference last approximately an hour, where a briefing of work done is being reviewed and activtties plan going fotvrard is review￿ and updated. Financial Review A Statement of the Charities Raservo Policy At the end of the accounting period. the charity held £1979.16 in the bank. We aim to have at the end of each accounting period a modest amount of money to pay incidentsls required to support the day-to-day running of the charity. Details of any Deficit There Ivas no deficit this year, as well as no increment in the accounts. The trustees are y￿rkIng in a new fundraising plan. Donated Facilities & Servlces The trustees have donated approximately 25 hours during the financial year. These hours, in additson to the regular trustee COnferen￿S, have been spent on evaluating the status of the charity and to work in a project plan to continue helping our sister organisation. Karunalaya Social Servi￿. Signed on behalf of the Charity Trustees: Karunalaya FourKlalion SCIO Srtltsh Charity rn SCts14418 Year EThJ 31* Marth 2023 Annual Receipts & Payment Accounts Year Ended 31st March 2023 Notes 2023 2022 Recoipts Incoming Resour￿$ from Donors 35.77 60.41 Re￿Ipts from Fundraising Activities 0.00 0.00 Receipts from Other Charitable Activibes 0.00 0.00 Total Recelpts £35.77 £60.41 Payments Costs of Generating Funds 0.00 0.00 Charitable Activities 35.77 60.41 Govemance Costs 0.00 75.00 Total Payments £35.77 £135.41 Surplusl(Defkll) on th• Year 0.00 {75.00) statemènt of Balanc as at 31￿ Mareh 2023 2023 2022 Balance at Start of Year 1,979.16 2,054.16 Surplusl(Defjcrt) on Ihe Year 0.00 (75.00) Closing Balance as at 311¢ March 2023 £1.979.16 £1979.16 Signed on behalf of the Trustee$: Dated: Iltlo7 J aoas KaNnalaya Foundation SCIO S￿*1Sti Ctrwity ￿ SC044418 Year End 311t Marth 2023 Notss to the Accounts 1. Donations There was one donation this year.. - Re donations of the Domain renewal for 2022-23 converted from US Dollars £35.77 2. Expenses for Charitable Activities Domain renewal £35.77 3. Governance Costs No Govemance costs paid this financial year. 4. Trusteés Remuneration & Expenses There were no payments made to any Charity Trustees for remuneration or expenses this financial year. 5. Finance Notes Incoming Resources are recognised when receivable. which is when the charity becomes entitled to resource. Resources Expended are recognised when there is a legal or constructive obligation to make payment. They are classffied into the following categories: Costs of Generating Funds (Fundraising) Charitable Activiiies (Costs incurred in the delivery of the charities activities and service) - Govemance Costs (Costs associated with the strategic management of the charity) Kawnaiaya F¢)undab¢n SCIO Sctxtsh Charity rn SC044418 Year ErKJ 316t Marth 2023 Independent Examin•r's R•port on the Accounts Report to the trust￿5 of Karunalaya Foundation On the accounts of the charty for the period to 31st March 2023 Set out on Pages 6 to 7 Respective responsibilitie8 of trustees and examiner The charty's trustees are responsible for the preparatTron of the accounts in accordan￿ with the tems of the Chanties and Truslee Investrnent (Scotland) 2005 Act and the Charities Accounts (Scotland) Regulations 2006. The charty trustees consider that the audit requirement of Regulation 10(1) (d) of the Accounts Regulations does not apply. It is my responsibilty to examine the accounts as required under section 44(1) (c) of the Act arKI to state whether particular matters have come to my attention. Ba818 of independent examln•rfs Statement My examinalion is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the chanty and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the trustees Con￿rning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the accounts. Independent examingr's statement In the course of my examinats"on. no matter has come to my attention 1. which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in a￿)rdance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and to prepare accounts which acccKd with the accountirvJ records and comply with Regulalion g of the 2006 Accounts Regulations have not been met. or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached /? J"*.p).3................ Relevant professional qualifiGationls} or body: ACIE & Diploma in Business & Finance