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The charity's unrestricted funds balance increased from £17,637 to £17,106 over the year.
<table><tr><td>Unrestricted funds Unrestricted general funds</td><td>Balance at 1 February 2024 £</td><td>Incoming resources £</td><td>Resources expended £</td><td>Balance at 31 January 2025 £</td></tr><tr><td>Unrestricted funds Unrestricted general funds</td><td>17,637</td><td>185,754</td><td>(186,285)</td><td>17,106</td></tr>
Financial · Metric statement · From The Lotus Childrens Foundation — annual report and accounts, year ending 31 January 2025, page 14
The charity's financial instruments include cash and bank balances classified as basic under FRS102.
All financial instruments are classified as basic. The company has chosen to apply the recognition and measurement principles in FRS102.
Financial · Policy statement · From The Lotus Childrens Foundation — annual report and accounts, year ending 31 January 2025, page 13
The charity's cash and cash equivalents include call deposits and other short-term highly liquid investments.
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Financial · Policy statement · From The Lotus Childrens Foundation — annual report and accounts, year ending 31 January 2025, page 12
The charity is potentially exempt from UK corporation tax on income or capital gains applied exclusively to charitable purposes.
Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Financial · Policy statement · From The Lotus Childrens Foundation — annual report and accounts, year ending 31 January 2025, page 12
The charity's charitable expenditure includes both direct and indirect costs necessary to support its activities.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Financial · Policy statement · From The Lotus Childrens Foundation — annual report and accounts, year ending 31 January 2025, page 12
The charity has unrestricted income funds available for use at the trustees' discretion.
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Financial · Policy statement · From The Lotus Childrens Foundation — annual report and accounts, year ending 31 January 2025, page 12
Expenditure is recognised when there is a legal or constructive obligation, it is probable settlement is required and the amount can be measured reliably.
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably.
Financial · Policy statement · From The Lotus Childrens Foundation — annual report and accounts, year ending 31 January 2025, page 12
Income is recognised when the charity has entitlement to it, it is probable that income will be received and its amount can be measured reliably.
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Financial · Policy statement · From The Lotus Childrens Foundation — annual report and accounts, year ending 31 January 2025, page 11
The charity is exempt from preparing a cash flow statement.
The charity opted to adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Financial · Policy statement · From The Lotus Childrens Foundation — annual report and accounts, year ending 31 January 2025, page 11
The financial statements comply with the Charities SORP (FRS 102).
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Financial · Policy statement · From The Lotus Childrens Foundation — annual report and accounts, year ending 31 January 2025, page 10
The financial statements were approved by the trustees on January 30, 2025.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The financial statements on pages 6 to 12 were approved by the trustees, and authorised for issue on 30./1./.22Sand signed on their behalf by: Mr I Jarvis Trustee
Governance · Procedural statement · From The Lotus Childrens Foundation — annual report and accounts, year ending 31 January 2025, page 9
The directors acknowledge their responsibilities for complying with the requirements of the Act regarding accounting records and accounts preparation.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
Governance · Procedural statement · From The Lotus Childrens Foundation — annual report and accounts, year ending 31 January 2025, page 9
The charity was exempt from audit under section 477 of the Companies Act 2006 for small companies.
For the financial year ending 31 January 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Governance · Policy statement · From The Lotus Childrens Foundation — annual report and accounts, year ending 31 January 2025, page 9
The foundation aims to increase its income to continue supporting current beneficiaries and expand services.
The trustees remain committed to increasing the charity's income to ensure we can continue to support our current beneficiaries. Given the long-term nature of their needs, the charity will rely heavily on voluntary donations and funding for many years to come.
Strategic · Commitment statement · From The Lotus Childrens Foundation — annual report and accounts, year ending 31 January 2025, page 4
The trustees are responsible for maintaining and ensuring the integrity of financial information on the charity's website.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website.
Governance · Procedural statement · From The Lotus Childrens Foundation — annual report and accounts, year ending 31 January 2025, page 6
The trustees are responsible for preparing financial statements that give a true and fair view of the charity's state.
Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company
Governance · Procedural statement · From The Lotus Childrens Foundation — annual report and accounts, year ending 31 January 2025, page 6
The foundation held cash reserves of £17,106 as of January 31, 2025.
As of 31 January 2025, the charity held cash reserves of £17,106.
Financial · Metric statement · From The Lotus Childrens Foundation — annual report and accounts, year ending 31 January 2025, page 4
The foundation aims to expand its capacity to care for more children while maintaining high standards of support.
Our aim is to expand our capacity to care for more children, while maintaining the high standards of care and support we currently provide.
Strategic · Commitment statement · From The Lotus Childrens Foundation — annual report and accounts, year ending 31 January 2025, page 4
The foundation spent £32,950 to support Fundacion Frailejones in Colombia.
- £32,950 to Fundacion Frailejones.
Financial · Funding statement · From The Lotus Childrens Foundation — annual report and accounts, year ending 31 January 2025, page 4
The foundation spent £55,222 to support the Patikiri Kubalathara Foundation in Sri Lanka.
- £55,222 to the Patikiri Kubalathara Foundation,
Financial · Funding statement · From The Lotus Childrens Foundation — annual report and accounts, year ending 31 January 2025, page 4