Annual Report and Financial Statements For the period l April 2024 to 31 March 2025 PARVATHI FOUNDATION REGISTERED CHARITY NUMBER SC046733 (A Scottish Charitable Incorporated Organisation)
PARVATHI FOUNDATION Index Page Trustees, Annual Report Accounts Notes to Accounts 8-12 Independent Examinerfs Report 13
PARVATHI FOUNDATION Trustees, Annual Report For the period l April 2024- 31 March 2025 Ob'ectives and Activities Charitable Purposes The 5CIO's purposes las set out in the Constitution) are: l. For the public benefit to promote the education of students in lor from) developing countries in such ways as the charity trustees think fit, including by awarding scholarship5 to students to pay for their educational and living expenses, and by donating funds to organisations that support the education and welfare of students; and 2. For the public benefit to support organisations that teach or carry out research and publish useful results that will be ava ilable to the public, including by donating funds. Artivities The SCIO was registered with OSCR in July 2016 and this is the ninth year of activity for the SCIO. The SCIO continued to seek opportunities to meet its Charitable purposes, and during the year it provided educational assista nce1£54,0101 directly, and indirectly through other charities to Students in / from Sri Lanka, Malawi, Zambia and Nepal, and to UK educational establishments to support students from developing countries. Achievements and erformance The SCIO has been able to increase its support to students in / from developing countries by supporting their educational and living expen5e5, and has helped to set up two new endowment funds at universities to provide long term support. Financlal Review During the year the SCIO reported net income of £117,100 from investments, £25,000 from donations and £39,546 as a fair value adjustment for investment properties. After expenditure of £54,010 on charitable activities, £610 on independent examiners, fee5, bank charges and Information Commissioner Office IICOI data protection fees, the net income was £127,026. Total Funds (all unrestricted) retained at the end of the period wa5 £2,224,2991£2,097,273 as at 31 March 2024}. During the year the SCIO has continued to own investment properties that have been rented out. The rental income is used for charitable giving. Brlef statement of the charl5 policy on reserves The SCIO'S policy is to maintain sufficient level of cash reserves to ensure it can meet at least three months of planned giving. Going Concern The trustees consider that there are no material uncertainties about the SCIO'S ability to continue as a going concern.
Structure overnance and mana ement Type oAGoverning Document The Charity is a Scottish Charitable Incorporated Organisation la SCIO)- It is 8overned by Its Constitution which was adopted at the time of registration {20July 2016). Appolntment of Trustees The current Trustees were appointed at the time of charity registration. Under the constitutlon there must be a minimum of three and a maximum of six trustees. One of the Trustees retired in accordance wlth the requirement of the constitution and was reappointed. Reference and admlnistrative detalls Charity Name Parvathi Foundatlon Registered Charity Number SC046733 Prlnclpal Address Current Trustee5 Chair Trustee Treasurer Secretary Trustees, res onsibllities in relation to the financial statements The charity trustees are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in Scotland requires the charity trustees to prepare financial statements for each year whlch give a true and fair vlew of the state of affalrs of the charity and of the Incoming resources and application of resources, of the charity for that period, In preparing the financial statements, the trustees are required to: select suitable accounting policies and then apply thern consistently, obserye the methods and principles in the applicable Charities SORP; make Judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concem basis unless It is Inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose wlth reasonable accuracy at any time the flnancial position of the charity and to enable them to ensu that the financial statements comply with the Charities and Trustee Investment {Scotland) Act 2005, the Charity Accounts (Scotlandl Regulations 2006 {as amended), and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable 5tep5 for the prevention and detection of fraud and other irregularities.
The trustees are responslble for the malntenance and integrity of the charlty and financial information. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdiction5. th Approved by the trustees on 17 December 2025 and signed on their behalf by,, Chair of Tru5tee5 17 December 2025
PARVATHI FOUNDATION Statement of Financlal Activities For the Period l April 2024 to 31 March 2025 0110412024 - 3110312025 (This Period) 0110412023- 3110312024 (Prior Period) Note Unrestricted Funds Restricted Funds Total Funds Total Funds Income from: Donations and legacie5 Investments Interest Income Revaluation of investment property Total 20 25,000 143,824 25,000 143,824 27,075 112.228 16 13 208,370 208,370 146,469 Expenditure on: Charitable activities Investment activities Other Total 15 15 15 54,010 26,724 610 81,344 54,010 26,724 610 81,344 61,094 28,584 610 90,288 Net income and movement in funds 127,026 127,026 56,181 Reconciliation of funds Total funds brought forward 2,097,273 2.097,273 2,041,092 Total funds carried forward 222422 2 097 273
PARVATHI FOUNDATION Balance Sheet as at 31 March 2025 3110312025 Total Funds 3110312024 Total Funds Note Unrestrlcted Restrlcted Funds Funds Fixed Assets Investments 16 2,790.371 2,790,371 2,289,655 Current Assets Debtors Cash at bank and In hand 27,130 27,130 18 39,665 39,665 61.745 Creditors.. amounts falling due within one year Net Current ILiabllitles} / Assets 17 28,928 28,928 127,3821 Total Assets less current 2,819,299 2,819,299 2,262,273 Creditors.. amounts falling due after one year 1595.000} 1595,0001 1165,0001 Total Net Assets or Liabilities 22 Fund5 Restricted Unrestricted Total funds 2 224 229 2 224 229 2 224 229 222422 2 097 273 19 The financial statements were approved and authorised for issue by the Board of Trustees on 17 December 2025 and were signed on its behalf by Lukshmi Selvarajah. The notes on pages 8 to 12 form part of these financial statements. The financial statement5 are presented in pounds sterling IGBPI as that is the currency in which the SCIO's transactions are denominated. They comprise the financial statements of the SCIO drawn up for the year ended 31 March 2025.
PARVATHI FOUNDATION Notes to Accounts Basis of Accounting Basis of preparing the financial statement5 The flnancial statements of the charity, whlch is a public benefit entlty under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financi31 Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191 and the Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,, the Charities and Trustee Investment (Scotlandl Act 2005 and the Charities Accounts Iscotlandl Regulations 2006 las amended). The financlal Statements have been prepared under the historical cost convention. Financial reporting standard 102 - reduced disclosure exemptions The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permltted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,: the requirements of Sectlon 7 Statement of Cash Flows. No material prior year errors have been identified in the reporting period. Going Concern The trustees consider that there are no material uncertainties about the SCIO'S ability to continue as a going concern. Recognltion of Income Income is included in the Statement of Financial Activities once the SCIO ha5 entitlement to the funds, it is probable that the income will be received and the account can be measured reliably. Income is accounted for on an accruals basis. Offsetting There ha5 been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. Grants and donations Grants and donations are only Included in the SOFA when the general income recognition criteria are met. Tax reclaims on donatlons and glfts Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unles5 the donor or the term5 of the appeal have specified otherwise. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it 15 probable that a transfer of economic benefit5 will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activitie5 on a basis con515tent with the use of resources.
- Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds Can be used in accordance with the charitable objectives at the discretion of the trustees. Restrlcted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
- Critical judgements and estimates No significant estimates and assumptions were made in preparing the financial Statements.
- Liabilitles Liability Recognition Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. Expenditure is accounted for on an accruals basis.
- Assets Investment Propertie5 Investment properties, which are properties held to earn rentals used to support charitable giving, are initially recognised at cost, which includes the purchase c05t and any directly attributable expenditure. Subsequently the Trustees consider the fair value of Inve5trnent properties at the reportlng date and adjust for any change in fair value. The statement of financial activities includes the net gains and losses arising on revaluation during the year.
- Analysis of Income Unrestricted Fund5 Restricted Funds Total Funds Prlor Year Donations and Legacies Donations and gifts 25,000 25,000 27,075 Income from Investments Rental Income Property revaluation Interest Income Total Income 143,824 39,546 143,824 39,546 112,228 7,166 208 70
- Grant Making Analysis of grnnts paid fincluded In cost of charftuble activlties) Analysls Grants to Instltutlons Grants to indlvldua15 Support Cost5 Total Educational Assistance Educational Infrastructure 39,626 12,384 52,010
Total 41 12 oio Grants made to Institutions Names of institution (all UK Registered Charities) Opportunities Zambia Christ's College Cambridge Medic to Medic Oxford Centre for Hindu Studies Purpose Classroom furniture Endowment Fund Support named individual students Endowment Fund Total £ 2.000 25,000 2,126 12.500 Total Grants to Institutlons In reportlng period 41,626 Other unanalysed grants Total Grants to Instltutlons 15. Analysis of Expenditure Unrestricted Funds Restricted Funds Total Funds Prlor Year Expenditure on Raising Funds Expenditure on Charitable Artivities Donations Paid Out Bank and ICO Charges Expenditure on Investment5 Rent collection, property maintenance and maintenance charges Other Independent Examiner Fees 54,010 130 54,010 130 61,094 130 26,724 26,724 28,584 480 480 480 Total Expenditure Details of certuln Items of Expenditure This period Prlor period Fees for examlnation of account5 Independent Examiner'5 Fees 480 16. Flxed A55et Investments Investment Properties Total Carrying value at beginning of period Addition5 Revaluation Carrylng value at end of period Fair Value Note 2,289,655 461,170 2,289,655 461,170 The Trustees have considered the likely fair value of the investment property at 31 March 2025 and included a revaluation adjustment of £39,546. Fixed a55et investments are stated at market value. The historical cost of the investments was £2,630.259 12024.. £2,168,789). io
Analysls of Investments Investment Properties Total Investment Properties Total 2 790 371 2 790 371 2 790 371 17. Credltors and accruals Analysis OA creditors Amounts falling due wlthln one year This period Prior period Amount-s falllng due after more than one year This period Prior period Loans Accruals and deferred income 3,750 6,987 45,000 44,128 595,000 165,000 Deferred Income This period Prlor perlod Amounts added in current period Amounts released to incorne from previous period5 Balance at the end of the reporting period 6,507 -6,148 6,507 6,148 -3470 6,148 At the end of the accounting period some rental income from the investment property had been received in advance and was treated as deferred income. 18. Cash at bank and in hand This period Prior period Cash at bank and in hand 12,535 61,745 19. Analysis of Funds Details offvnds held and movements durlng current reporting period Fund balance brought forward Income Expenditure Transfers Gains and Losses Fund balanees carried forward General Unrestricted Fund Total Funds 2 097 273 2 097 273 208 370 208 370 2 224 299 2 224 299 li
Detolls offunds held and movement5 durlng prevlous reportlng perlod Fund balance brought forward Income Expendlture Transfers Gains and Losses Fund balances ¢arrled forward General Unrestricted Fund 2 041092 Total Funcls 2 041092 146 469 146 469 2 097 273 2 097 273 20. Donatlons and Legacles Unrestricted Restricted Total in Current Period Prior Perl¢)d Donations and Legacles 25,000 25,000 27,075 Total 21. Trustees, Remuneratlon and Benefits None of the trustees have been pald any remuneratlon or received any other benefit5 from an employment wlth the SCIO or a related entlty. No trustee expenses have been incurred. 22. Transaction5 With Trustees and Related Partie5 There have been related party transaction5 in the reporting period as follows: Name of the Trustee Relatlonship to the SCIO Description of the transaction Amount 1£) Trustee Trustee Gift from Trustee Interest Free Loan (net of repayment) 20,000 388,750 12
PARVATHI FOUNDATION Independent Examinerfs Report to the Trustees of Parvathl Foundation I report on the accounts of the charity for the year ended 31 March 2025 which are set out on pages 3 to 12. Respectlve responsibllltles of trustees and examiner I he charitV'5 trustees Iwho are also the directors of the company for the purpose5 Of cornpany lawl are responslble for the preparatlon of the accounts in accordance with the terms of the Charitie5 and Trustee Investment Iscotlandl Act 2005 and the Charitie5 Accounts {Scotlandl Regulations 2006 las amended). The charity trustees consider that the audit requirernent of Regulation 10111 lal to Icl of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts a5 required under section 4411) Icl of the Act and to state whether particular matters have corne to my attention. Basis of independent examinerfs statement My examination is carried out in accordance WFth Regulation 11 of the Charities Accounts Iscotlandl Regulations 2006, An examination includes a revlew of the accounting records kept by the charity and a comparison of the account5 presented with those records. It also includes consideration of any unusual iterns or disclosures in the accounts, and seeks explanations from the trustees Concernin8 any such matters. The procedures undertaken do not provide all the evldence that would be required in an audit, and consequently I do not express an audlt opinion on the vlew Eiven by the accounts. Independent exarnlnerfs statement In the course of my examination, no matter has corne to my attention: which gives rne reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with Section 44111 lal of the 2¢)05 Act and Regulation 4 of the 2006 Accounts Regulations- and to prepare account5 which accord with the accounting records and comply with Re8ulation 8 of the 2006 Accounts Regulations have not been met; or to which, in my opinion, attention should be drawn in order to enable a proper understandlng of the acco'JYt5 to be reached. FCCA TB Dunn & Co Unit 8000, Academy Business Park 51 Gower Street Glasgow G51 IPR 17 December 2025 13