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REGISTERED COMPANY NUMBER: 04269631 (England and Wales)
REGISTERED CHARITY NUMBER: 1089688









Report of the Trustees and

Financial Statements

for the Year Ended 31 March 2024

for

The Dewan Foundation Limited

The Dewan Foundation Limited






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5

Notes to the Financial Statements 6 to 10

The Dewan Foundation Limited (Registered number: 04269631)

Report of the Trustees
for the Year Ended 31 March 2024


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity is constituted as a company limited by guarantee, and is therefore governed by a Memorandum and Article of Association.

The charity's objective and principal activity continues to be that of funding social work.

Significant activities
The trustees continued the charity's objective and principal activity of funding social work by way of grants and donations to various organisations.

Public benefit
The charity is a public benefit entity. The trustees have complied with the duty in section 4 of the 2011 Charities Act to have due regard to guidance published by the Charity Commission, including public benefit guidance. The charity has achieved its primary public benefit objectives by making donations to various charities and funding of social work.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustees consider that the performance of the charity this year has been satisfactory. Donations to charitable organisations in the year amounted to £ 172,467..

Investment performance
The trustees are currently satisfied with the investment performance of the assets.

Internal and external factors
The trustees have made a full assessment of the internal and external factors that may affect these financial statements and do not deem any factors material enough to have an impact.

FINANCIAL REVIEW
Principal funding sources
The principal funding sources were all from either the trustees or from companies related by common control.

FUTURE PLANS
It continues to be the board's intention to preserve company's resources to ensure that donations can be maintained at acceptable levels in future years. The trustees believe that this policy will ensure that the company will have sufficient funds in the future to fulfil any obligation to which it is committed.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees
All directors of the company are also trustees of the charity, and there are no other trustees. All of the trustees named above served throughout the year. The board has the power to appoint additional trustees as it considers fit to do so.

Organisational structure
The charity is organised so that the trustees consult each other regularly to help manage charity's affairs.

Wider network
At present company does not consider itself part of a wider network.

Risk management
The trustees identify the major risks to which the Charity is exposed to each financial year when preparing and updating a strategic plan, in particular, those areas related to the operations and finances of the Charity. The Trustees then review any major risks which have been identified and establish systems to mitigate those risks. The Trustees continue to put in place appropriate internal controls and monitoring procedures to minimise financial risks.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04269631 (England and Wales)


The Dewan Foundation Limited (Registered number: 04269631)

Report of the Trustees
for the Year Ended 31 March 2024

Registered Charity number
1089688

Registered office
28 Church Road
Stanmore
Middlesex
HA7 4XR

Trustees
Mr R Dewan
Ms S Dewan
Mrs Z. Dewan
Mr N Dewan

Company Secretary
Mrs Z. Dewan

Independent Examiner
Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Solicitors
Penningtons Manches LLP
125 Wood Street
London
EC2V 7AW

Bankers
Lloyds TSB Bank Plc
Tower Bridge Road Bermondsey Branch
67 Tower Bridge Road
London SE1 4TN

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 6 December 2024 and signed on its behalf by:





Mr R Dewan - Trustee

Independent Examiner's Report to the Trustees of
The Dewan Foundation Limited

Independent examiner's report to the trustees of The Dewan Foundation Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.








Marco Gazza FCCA

Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

6 December 2024

The Dewan Foundation Limited

Statement of Financial Activities
for the Year Ended 31 March 2024

2024 2023
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 94,710 126,850

Net Investment income 2 24,841 13,688
Total 119,551 140,538

EXPENDITURE ON
Charitable activities
Governance costs 3,831 3,657
Donations 172,467 356,376
Total 176,298 360,033

NET INCOME/(EXPENDITURE) (56,747 ) (219,495 )


RECONCILIATION OF FUNDS
Total funds brought forward 7,345,425 7,564,920

TOTAL FUNDS CARRIED FORWARD 7,288,678 7,345,425

The Dewan Foundation Limited (Registered number: 04269631)

Balance Sheet
31 March 2024

2024 2023
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Investments
Investments 6 5,850 5,850
Investment property 7 5,265,997 5,064,737
5,271,847 5,070,587

CURRENT ASSETS
Debtors 8 2,567,939 2,602,242
Cash at bank 154,478 180,722
2,722,417 2,782,964

CREDITORS
Amounts falling due within one year 9 (705,586 ) (508,126 )

NET CURRENT ASSETS 2,016,831 2,274,838

TOTAL ASSETS LESS CURRENT LIABILITIES 7,288,678 7,345,425

NET ASSETS 7,288,678 7,345,425
FUNDS 10
Unrestricted funds 7,288,678 7,345,425
TOTAL FUNDS 7,288,678 7,345,425

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 6 December 2024 and were signed on its behalf by:





R Dewan - Trustee

The Dewan Foundation Limited

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

The Charity constitutes a public benefit entity as defined by FRS 102.

The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 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 activities on a basis consistent with the use of resources.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

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.

Restricted 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.

Current assets and creditors
Debtors are recognised when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be reliably measured and it is probable that the income will be received.

Cash at bank and in hand includes cash and short term deposits.

Creditors are recognised when the Charity has a present legal or constructive obligation arising from a past event to make payment to a third party, it is probable that settlement will be required and the amount due to settle the obligation can be measured or estimated reliably.

2. NET INVESTMENT INCOME
2024 2023
£    £   
Rents and property income 24,841 13,673
Deposit account interest - 15
24,841 13,688


The Dewan Foundation Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.


4. STAFF COSTS

The average monthly number of employees during the year was as follows:

2024 2023

No employees received emoluments in excess of £60,000.

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 126,850

Net Investment income 13,688
Total 140,538

EXPENDITURE ON
Charitable activities
Governance costs 3,657
Donations 356,376
Total 360,033

NET INCOME/(EXPENDITURE) (219,495 )


RECONCILIATION OF FUNDS
Total funds brought forward 7,564,920

TOTAL FUNDS CARRIED FORWARD 7,345,425

6. FIXED ASSET INVESTMENTS
Listed Unlisted
investments investments Totals
£    £    £   
MARKET VALUE
At 1 April 2023 and 31 March 2024 5,750 100 5,850
NET BOOK VALUE
At 31 March 2024 5,750 100 5,850
At 31 March 2023 5,750 100 5,850

There were no investment assets outside the UK.

The Dewan Foundation Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. INVESTMENT PROPERTY
£   
FAIR VALUE
At 1 April 2023 5,064,737
Additions 201,260
At 31 March 2024 5,265,997
NET BOOK VALUE
At 31 March 2024 5,265,997
At 31 March 2023 5,064,737

The investment properties have been valued by the trustees and the trustees consider the market value of above properties remain the same as the original cost.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,567,242 2,602,242
VAT 697 -
2,567,939 2,602,242

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
VAT - 920
Other creditors 704,579 426,199
Accrued expenses 1,007 81,007
705,586 508,126

10. MOVEMENT IN FUNDS
Net
movement At
At 1.4.23 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 7,345,425 (56,747 ) 7,288,678

TOTAL FUNDS 7,345,425 (56,747 ) 7,288,678

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 119,551 (176,298 ) (56,747 )

TOTAL FUNDS 119,551 (176,298 ) (56,747 )


The Dewan Foundation Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.4.22 in funds 31.3.23
£    £    £   
Unrestricted funds
General fund 7,564,920 (219,495 ) 7,345,425

TOTAL FUNDS 7,564,920 (219,495 ) 7,345,425

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 140,538 (360,033 ) (219,495 )

TOTAL FUNDS 140,538 (360,033 ) (219,495 )

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.4.22 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 7,564,920 (276,242 ) 7,288,678

TOTAL FUNDS 7,564,920 (276,242 ) 7,288,678

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 260,089 (536,331 ) (276,242 )

TOTAL FUNDS 260,089 (536,331 ) (276,242 )

11. RELATED PARTY DISCLOSURES

Until 2013 The Dewan Foundation Limited received all its donations from either the trustees or from companies related by common control. From April 2013 The Dewan Foundation Limited started to accept donations from the public.To date £113,515 has been received from public donations.. During the year, the charity received a donation of £94,710 from the companies controlled by the trustees.


The Dewan Foundation Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

12. OTHER RESOURCES EXPENDED-DONATIONS

The main donations are paid to the following charities:

Alzheimer's Society
Unique
NSPCC
Cancer Research
Center of Self Managed Learning
Brighter Future developmentl Trust
DM Thomas Foundation for Young People
St Luke Hospice
Macmillan Cancer
M S Society
Harrow Food Bank
Mind Donation
Lennox Children's Cancer Fund
Santhivardhana Ministries
Imperial College
Pragti, Koraput
Prostate Cancer
Diabetes UK
Sunnydays Childrens Fund
Moorfield Eye Hospital
Barnardo's
Rotary Club of Rushmoor