Registered number: 03066579 Charity number: 1047432 The AMAR International Charitable Foundation (A company limited by guarantee) Trustees. report and financial statements For the year ended 31 December 2023
The AMAR International Charitable Foundation (A company Ilmlted by guarantee) Contents Page Reference and admlnlslratlve detalls of the Charity. Its Trustees and advisers Trust88s' report Independent audltors, report on the flnanclal ststements Statement of flnanclal actlvltles 13 Balance sheet 14 statement of cash flows 15 Notes to the flnanclal statements 16-30
The AMAR International Charltable Foundation (A company Ilmlted by guarantee) Reference and administratlve detalls of the Charlty. Its Trustees and advlsers For the year ended 31 December 2023 Trustees Baroness Nicholson of WSnterbourne, Chairman Dr Theodore Zeldin Damon John Parker, Secretary Siddik Bakir Mohammed Hayder Hassan (reslgned 16 May 2023) Sharlene Wells Hawkes Professor David Kerr Stanley Blake Parrish Bishop Alistair Redfern Francesco Gluseppe Michele Boardman Mohammed All Charchafchi (resigned 8 January 2024) Company reglstered number 03066579 Charlty registered number 1047432 Registered office 1st Floor County House 100 New London Road Chelmsford Essex SW1H 9EX Prlnclpal operating office 80 Pety France London Company secretary Damon Parker Independent auditors Kreston Reeves LLP Chartered Accountanls Statutory Auditor 2nd Floor 168 Shoredltch Hlgh Street London E16RA Bankers C Hoare & Co 37 Fleet Street London EC4P 4DQ National Westminsler Bank PLC Brldge Street Hatherlelgh Okehampton Devon EX30 3HZ Clydesdale Bank PLC 91 Gresham Street London Page 1
The AMAR International Charitable Foundation (A company Ilmlted by guarantee) Reference and administrative details of the Charlty, Its Trustees and advisers {continuedl For the year ended 31 December 2023 Solicitors Harcu5 Parker Melbourne House 44-46 Aldwych London WC2B 4LL Pag8 2
The AMAR International Charltable Foundatlon (A company Ilmlted by guarantee) Trustees. report For the year ended 31 December 2023 Tho Trust8es present their annual report together with the audited financi81 statements of the Charity for Ihe 1 January 2023 to 31 December 2023. The Annual report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requlrements, the requir@ments of the charitabl8 companys governing document and the provlslons of the Statement of Recommended Practice (SORP) applicable to charit18s preparing their accounts In accordance wlth the Financial Reporting Standard appllcable In the UK and Republic of Ireland (FRS102) (effeclive 1 January 2019). Since the Charlty qualifies as small under section 382 of the Companies Act 2006, the Strateglc report required of medlum and large companies under the Companies Act 2006 (Strateglc Report and Dlrectors, Report) Regulatlons 2013 has been omitted. Objectlves and actlvltles a. Pollcles and objectlves AMAR'S key objectlves remain the provision of public health and educalion. includlng tralnlng. to slgnlflcantly underserved populatlons under continuing stress. AMAR'S purpose is to improve the qu8llty of Ilfe and provide hope for those whom it serves and to enable a higher quality of publlc servlce by the local and national authorltles. AMAR'S main focus of activities during the year remalned In the Federal Republic of Iraq with small scale activity and support to Lebanon, Somaliland and Romanla. AMAR also promotes religious freedom for all. In setting objectives and planning for activilies. Ihe Trustees have given due consideration to general guidance published by the Charity Commission relaling to publlc benefit, including the guidance 'Public benefit.. running a charity (PB2)'. Achlevements and performance 2023 saw a return to normality after the interruptions of COVID. AMAR had broadly continued worklng through the dlsruptlon, but nonetheless it was a welcome resumplion of normal activlty. In Southern Iraq, provision of Social Welfare continued. Thls provldes vocatlonal tralning and primary healthcare to villagers in the surrounds of oilfield infrastructure, to recelve some part of the benefits which flow to wider Iraq. Our thanks to Basra Oil Company and Basra Energy Company Ltd (which runs the Rumailah Oilfield) for sponsoring these projects. Of particular nole are Educating Women in Iraq, where the training centre received a makeover, and the provision of Women Health Volunteers and Health Education in Schools as adjuncts to both the Al Khora village cllnlc and the Mobile Health Clinic for areas further out towards the oil fields. 500 Ramadan boxes were sourced and delivered by the Basra Field Team, pald for by the non-profit surplus from the coffee shop in the Rumailah oil field headquarters. A polyclinic was op8rated in the second half of the year In AMAR'S hospital for mother & child health in the Shati Al Arab district. As predicted wh8n it was built, the Shatt Al Arab suburb grows closer and closer each y@ar, with more and more very modern development. Trustees are pleased to report that. shortly after the end of the financial year, legacy questions over full control of the Hospital and School lands were resolved favourably. Trustees are reviewing the best way to take fomard the original charitable Intent of these grants. The school continues to operate. both primary and secondary, with roll of 352. of which 15°/o are orphans on full scholarship5. AMAR was pleased to team with Basra Gas Company again, to refurblsh local schools In Az Zubayr to a very high standard. The project is just completing at the end of the year. It also included eye tests (and provision of spectacles where ne8ded) and first aid training. Page 3
The AMAR International Charltable Foundation (A company limited by guarantee) Trustees, report (contlnued) For the year ended 31 December 2023 Achlevements and performance (continued) In northern Iraq, in the Kurdistan Region, work to support the Yazldls contlnued. AMAR was honoured at the start of the year to receive a generous grant from Alwaleed Philanlhropies. Support for health clinics in IDP camps was being withdrawn at the end of 2022 and the provision of two PHCCS provided a welcome boost in the tented camps, now in their 9th year. AMAR was able to tie this with support from Baillie-Gifford with psychiatric unils in the camps, now in its 4th and sadly final year. Our thanks to Baillie-Gifford for their generosity over this period. The YazldS muslc project continued, with sponsorship from the Stirling Foundation for the AMAR Ashty ('peace') choir of Yazidi ladles, survivors of ISIS, and all of them internally displaced for 9 years. Thanks also to the generous support in klnd from Sardar Group for provision in parallel of vocational skills training, and for s11rfng Education and Sorenson Foundation for carrying this on at the end of the year. The choir gave several concerts over the year the hlghllght was a performanc8 for Iraq Britain Business Council members in the Sardar showroom In Erbll, attended by the Governor and s8V8ral ministers from KRG. The choir were suitably honoured that politicians and business leaders were interested and appreciative of them. The choir then performed the next day for HH The Prfnce of the Yazldls in the Sheikhan Council House. The music project is showing real potential as a vehicle for restoring motivallon to learn a skill and find a job in otherwise demoralised displaced populations. Thanks to AP, Sardar Group, Stirling Foundation, Stirling Education, Sorenson Foundation and Baillie-Gifford for their support for the Yazidis over the year. The Windsor Dialogue was held in June In Commlttee Room G of the House of Lords, and th8 Inner Temple. Th8 theme was a stocktake after 7 years, and what next. Rt Revd Dr Alastair Redfern was in the chair. We were grateful that Mrs Fiona Bruce MP, the UK Prlme Mlnlster's Speclal Envoy for Freedom of Religion or Belief attend8d the opening morning. (and the reception in the old Lord Chancellorfs Apartments that evening.) Our thanks as ever for the partnership with Prof Brett G. Scharffs and the Internatlonal Center for Law and Religion Studies at the Brigham Young University Law School. The Chlef of Staff. Andrew Methven, continues to represent the Chairman and Bishop Redfem on the UK FORB Forum and the FORB Forum Iraq Working Group. The charity moved into the basement in the same building (80 Petty France) when the lease expired on the second floor. This was a lower cost option and helped cul overhead costs further. At the end of the year, de-dollarizalion (a policy move by the Iraql Government lo stop the parallel dollar economy and encourage use of the Iraq Dinar) and Iraq consequences of the events of Oct 7th both caused additional oparational challenges. AMAR'S work in Romania and Ukraine for Ukrainian children, particularly special needs, contlnued. The t8am ran a very wet but vary happy summ8r camp for Ukraine children just over the border in Ukralne. There wer8 grlm tales of a winter spent shelt@ring in basements without any heating. At the end of the year, we saw th8 knlttlng and distribution of over 3,500 handknitted woolly hats and scarves to Ukrainlan chlldren, elther In Ukraine or refugees in northern Romania- th8 brainchild of Mrs Louise Brown who gathered as knitter5 her Utah frlends., vast effort which has been hugely well received. AMAR contSnues to support former Afghan female prosecutors and their families, refugees in Pakistan. We organised their safe flight from Ihe Taliban to save their lives. We continue lo look for a safe final country for them. Towards the end of the reporting perlod. we saw the retirement {for the second time} of Mr Chris Frost as Treasurer, and we welcomed Ms Kushala Sharma as the naw Head of Finance. Final thanks go to AAA Holdlngs and several other major compani8s for their generous sponsorship and support throughout the year,. to Christophe Mlchels and the IBBC for their ongoing support in many different ways. and to our 501 (c)(3} affiliate In Amerlca, The US FrSends of AMAR. for their staunch support through the year and for their wonderful partnershlp of true frlends. Page 4
The AMAR Internatlonal Charltable Foundation (A company Ilmited by guarant88) Truste8s' report {contlnued) For th8 year ended 31 December 2023 Flnanclal revlew AMAR seeks and receives funding from private. corporate and institutional donors as well as from UN agencies and other inlernational institutions. Details of incomlng resources and resources expended are given in the Statement of Financial Activities. The funding of all AMAR services remains a challenge particularly for the emergency relief work in the camps and for IDPS everywhere as1Sttle funding is available from the UN and other governments. The operating and fundraising environm8nt has remalned challenging, but the charity has retain8d th8 programmes throughout the year and looks fotward to expanding as the situation improves. a. Going concern The financial statements have been prepared on a golng concern basis, which assumes that the charity wlll be able lo meet its debts as they fall due. Over811 income has decreased from £2,638,338 in 2022 to £2.433.044. Whilst income has fallen. expenditure has fallen by a more significant £725.760 to £2.087,018. This resulted in an overall surplus of £346.026 compared to a deficit of £174,440 in Ihe prevlous year. During the year the charity had a deficit on unrestricted funds of £167.415, there was a further transfer to clear an overdrawn restricted fund of £114,321 resulling in an increase of the overdrawn general fund at Ihe year-end to £924,842. R8Strict8d funds brought foNard from ye8r ended 2022 together with the restricted surplus of £513,441 hav8 r8sulted in a year-end balance of £1,200,852. Ther&fore total funds have Improved from the deficit position last year of £34,299 to a positive figure of £311,727. A legal impedlment In Iraq that prevented AMAR from including the value of two property assets In Basra In AMAR'S financlal statements has now been resolved. Indeed. change of registration of one asset since year end, accompanied by a pledge of $1.5M, of whSch $600k has been received, has materially improved the Charitls position in 2024. The inclusion of the sale proceeds of these assets in AMAR'S 2024 financial statements will have a positive impact on AMAR'S balance sheet. The other property has been assessed as having broadly similar significant value to the Charity. The trustees believe it Is appropriate to prepare the financial statements on this basis since: steps have been taken to further address the unrestricted funds deficit. there is underlying donor support which ensures AMAR'S financlal vlabllity and cashflow. AMAR is continuing with Its fiscal recovery plan. After making appropriate enqulrjes, the Trustees have a r&asonable expectatlon that the Charfty has adequate resourc&s to continue in operational existence for the foreseeable future. For thls reason, they continue to adopt the going concern basis in preparing the financial statements. Further detalls regarding the adoption of the going concern basis can be found in the accounting po5cleS. b. Reserves pollcy Reserves are required to meet the working capital requirements of the charily. The trustees aim lo hold general reserves equivalent to 2-3 months, administrative costs. This will be reviewed in the coming year (2024). The trustees acknowledge the negative reserves- with the support of a major donor, bringing assels onto the balan sheet, and further implementation of a fiscal recovery policy it is intended that Éhe negative reserves will be cleared within the coming 12 months (i.e. 2024). The defiCt whlch was exacerbated during COVID is now clearing, through the Trustees. continuing plan to increase charltable income, particularly unrestricted donations. and reduclng overhead costs as summarised below: In 2022, AMAR'S fundraising in and for Iraq contlnues to recover from the impact of COVID. And there is an expansion of AMAR'S work beyond Iraq Is openlng new fund-raising opportunities. Major unrestricted donations were recelved In year whlch helped reduce the unrestricted deficit and resolve the ownership quesllon over AMAR assets in Basra Page 5
The AMAR Internatlonal Charitable Foundation (A company limited by guarantee) Truste8s' report (conllnued) For the year 8nded 31 December 2023 Further major donations have been received post balance sheet which will finally clear the unrestricted deficit. Funding continues to support a Yazldi muslc project in the Kurdislan Region of Iraq. This prolect Is being complemented by training project designed to educate young Yazidi victims of ISIS so that they can secure employment. A corporate donor has funded a £540,000 school refurbishment project in the Basra region that started in September 2023. A similar project is expected in 2024. A foundation provided £503k of funding In 2023 that will enable AMAR to refurbish and operate two Primary Healthcare Centres in the Kurdistan reglon of Iraq for one year. AMAR'S primary and secondary schools in Basra are expected to generate a small surplus in 2023 that wlll help cover the salaries of AMAR'S staff In Basra. A number of new fund-raising app8als are either underway or are being planned: 1. A major fundralslng event In Utah. 2. Further appeals to sympathetic previous donors to support ongoing work wlth the Yazldls. 3. A $1m proposal for a Cultural Centre in Duhok is under development and being dlscussed wlth a major donor. Finally, the Trustees recognised that our aim to cap overhead costs al 100/0 in our proposals to donors was too ambltious. New projects include overhead costs of 15 %-20 %, which is In Ilne with the average for UK charities. Structure, governance and management The company was incorporated under the Compani8s Act 1985 on 9th June 1995 In England and Wales and is governed by its memorandum and articles of association. The company is a company Ilmlted by guarantee and not having a share capital, (company registration number 3066579), and is a reglstered charlty (charity registration number 1047432). Each member's guarant88 liability is limited to £1. The management of the charltable company Is conducted at meelings held by the Trustee5 at regular Intervals as described in its memorandum and articles of association. Trustees are recruited based upon The AMAR International Charitable Foundation's (AMAR'S) fields of work and appointed by vole. All Trustees give their time voluntarily and receive no benefits from the charity. The risks to which the charity is exposed, as identified by the trustees, have been reviewed and systems have or are in the process of being established to mitigale Ihose risks. The major risks incurred are in respect of: staff operating in areas where there may be a threat to their personal security or general wellbeing. financial risks linked to the current soclal and economlc situations., During tha reporting period, further progress was made In corrective action and strengthening of controls, following tha dismissal of several field slaff in the recent years. Appropriate reporting continued to be made to the relevant UK authorities. During the audit perlod, and In parallel with the 2020 audit, the Board has upgraded the charity's financial controls, both in UK and Iraq. and Is satlsfied they are suffici@nt and indeed modelled on best practice. During preparation for the 2020 audit, the Board consldered a governance review, a structural review, and a review of the governing document. On consideration. the consensus was that a) th& trustees had a sufficient understanding of areas in need of review,. b) the existlng structure (as both charity, and company limited by guarantee) remained fit for purpose - although if starting afresh, a Charitable Incorporated Organisation would have been an alternative,. c) the governing document was broadly fit for purpose minor work to refresh it is ongolng. The Board notes that management refer day-to-day declslons, whSch requlre 8oard-level clearance, lo a quorum of two trustees, wlth all décisions logged and briefed at the next Board meetlng. Bookkeèping support has been strengthened during the p8riod to a level deemed sufficient by the trustees. Page 6
The AMAR Internatlonal Charitable Foundatlon (A company limited by guarante8) Trustees. report (contlnued) For the year ended 31 December 2023 Slructure, governance and management (contlnued) Durlng the year the charity has continued to strengthen its governance processes, pollcles and procedures to ensure they either meet or exceed the relevant standards. Plans for future perlods A more detailed summary of the plans for the future has been included within the Reserve policy section of the Trustees, report. which also includes details of the Trustees, plans to reduce the deficit on unrestricted funds. Statement of Trustees, Responsibilities The Trustees (who are also the directors of the Charlly for the purposes of company law) are responslble for preparlng the Trustees, report and the financial statements in accordance with appllcable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Truslees must not approve the financial statements unless they are satisfled that they give a true and fair view of the state of affairs of Ihe Charity and of its incoming resources and application of resources, including its income and expendilure. for Ihat period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP (FRS 102). make judgements and accounting estimates that are reasonable and prudent., stale whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements,. prepare the financlal statements on the going concern basis unless It is inappropriate to presum& that the Charity will continue in business. The Trustees are responslble for keeping adequate accounting records that are sufficient to show and explain the Charity's transactlons and dlsclose with reasonable accuracy at any tlme the financial position of the Charity and enable them to ensure th8t the financial statem8nts comply wlth the Companies Act 2006. They are also responsible for safeguardlng the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 7
The AMAR International Charitable Foundatron (A company limlted by guarantee) Trustees. report {contlnued) For the year ended 31 December 2023 Disclosure of informatlon to audltors Each of the persons who are Trustees at the time when th15 Trustees, report is approved has confirmed that: so far as that Trustee is aware, there is no relevant audit Information of which the charity's auditors are unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee In order to b8 aware of any relevant audit information and to establish that the charitls auditors are aware of that information. Audltors The auditors. Kr8ston Reeves LLP, have Indicated their willingness to continue in office. The designated Trustees will propos8 a motion reappointlng the audltors at a m88ting of the Trustees. Approved by order of the members of the board of Trustees and signed on their behalf by: Baroness Nicholson of Wlnterbourne Trustee Date.. 03 104 Baroness Nicholson of Winterboume Chairman AMAR International Charitable Foundation THE AMAR IERNATIONAL CHARrrABLE FOUNDATION UK REGISTERED CHA51rrY'.1047432 UK PEGISTERSD COMPANY,. 3066579 Pag8 8
The AMAR International Charltsble Foundatlon (A company Ilmlted by guarantee) Independent auditors, report to the Members of The AMAR International Charitable Foundallon Opinion We have audited the financial statements of The AMAR International Charitab18 Foundation (the 'charitl) for the year ended 31 December 2023 whlch comprise th8 Statement of financial activities. the Balance sheet, the statement of cash flows and the related notes. including a summary of significant accounting policies. The financlal reportlng framework that has been applled in their preparalSon Is appllcable law and United Kingdom Accounting Standards. Includlng Financial Reportlng Standard 102 'The Flnanclal Reportlng Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accountlng Practlce). In our opinion the financial statements.. give a true and fair view of the slate of the charitable companls affairs as at 31 Dember 2023 and of its incoming resources and application of resources, including its income and expenditure for the year then ended., have been properly prepared In accordance with United Kingdom Generally Accepled Accounting Practice. and have been prepared In accordance with the requirements of the Companles Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financlal statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of Ihe financial statements in the United Kingdom, including the Financial Reporting Council's Ethlcal Standard, and we have fulfilled our other ethical responsibilities in accordance with these requlrements. We believe that the audlt evldence we have obtained Is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements, we have concluded that the Trustees, use of the golng concern basls of accounting in the preparation of the financial statements is appropriate. Based on Ihe work we have performed, we have not identified any material uncertainties relating to events or conditions Ihat. individually or colleclively, may cast significant doubt on the charitable companys abi1Sty to continue as a going concern for a period of at least e1ve months from when the financial statements are authorised for issue. Our responsiblllties and the responslbllltles of the Trustees wlth respect to going conc8rn are described in the relevant sections of this report. Emphasis of matter Despite the surplus achleved this year of £346.026 (2022: Deficit of £174.440) and net assets of £311,727 (2022: net liabilities £34,299), there is a deficit on unrestricted funds of £889,125 at 31 December 2023 (2022.. £607,389). We draw your attentlon to note 2.2 in the financial stalemenls where the Trustees have stated that the principal risk to the charity is the ability to generate sufficient unrestricled income but that plans are in place to address this issue in 2024. Our opinion is not modified in respect of this matter. We confirm that there are no other malters to which your attentlon should be drawn to enable a proper understanding of the financial statements to be reached. Page 9
The AMAR International Charitable Foundatlon (A company Ilmlted by guarantee) Independent auditors. report to the Members of The AMAR International Charllable Foundatlon (contlnued) Other Informatlon The oth8r information comprises the informatlon Included In the Annual report other than the financial statements and our Auditors, report thereon. The Trustees are responslble for the other information contained within the Annual r8POrt. Our opinion on the financlal statements does not cover the other information and, except to the 8Xtent otherwise explicitly stated In our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other Informatlon and, In dolng so, consider whether the other information is mat8rially inconsistent with the flnanclal statements or our knowledge obtained in the course of the audit, or oth8rwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to detemiine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a material misstalement of this other information. we are required lo report that fact. We have nothing to report in this regard. Oplnlon on other matters prescrlbed by the Companles Act 2006 In our opinion, based on th8 work undertaken In the course of the audlt: the informatlon given in the Trustees, report for the financial year for which the financial stat8ments are prepared is consistent with the financial statements. the Trustees, report has been prepared in accordance with applicable legal requlrements. Matters on whlch we are r8qulrod to report by exceptlon In the Ilght of our knowledge and understanding of the charitable company and its envlronment obtalned In the course of the audit, we have not identified material misstatements in th8 Trustees, report. We have nothlng to report In respect of the followlng matters in relation to which Companies Act 2006 r8quir8S us to report to you if, in our opinion- adequate accounting records have not been kept, or returns adequate for our audit have not been re}Ved from branches not visited by us. or the financial statements are not In agreement wlth the accounting records and returns; or certaln dlsclosures of Trustees, remuneration specified by law are not made. or we have not received all the information and explanations we require for our audit., or the Trustees were not entitled to prepare the financial statements in accordance wlth the sm811 companles regime and take advantage of the small companies, exemptlons In preparing the Trustees, report and from tho requirement to prepare a Strategic report. Responslbllllles of trustees As explained more fully in the Trustees, responsibilities statement. the Trustees (who are also the dlrectors of the charitable company for the purposas of company law) are responslble for the preparation of the financial statements and for being satisfied that they give a true and fair vlew, and for such internal control as the Trustees det8rmin6 is nec8ssary to enable the preparation of flnanclal statements that are free from material misstatement, wheth@r due to fraud or error. In preparing the financial statements, the Trustees are responsible for assesslng the charitable CoMpanS ability to continue as a going concern, disclosing, as applicable, matters related to golng concern and using the going concern basis of accounting unless the Truste&s either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Page 10
The AMAR International Charitable Foundation (A company limited by guarantee) Independent audltors. report lo the Members of The AMAR International Charllable Foundatlon (conllnued) Auditors, responsibilities for the audlt of the financial statements Our objectives are to obtain reasonable assuran about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to ISSU8 an Auditors, report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misslatemenl when St exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to Influence the economlc declslons of users taken on the basls of these financl81 statements. Irregularities. includlng fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above, to detect material misstatements in respect of Irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Capability of the audit in detecting irr8gulariti8s, including fraud The oblectlves of our audlt are to Identlfy and assess the rlsks of materlal mlsstatement of the financial statements due to fraud or efror,. to obtaln sufflclent appropriate audlt evidence regardlng the assessed rlsks of material misstatement due to fraud or error. and to respond appropriately to those risks. Based on our understanding of the group and charitable sector generally, and through discussion wlth the Trustees and other management (as required by auditing standards), we identified that the principal risks of noncompliance wilh laws and regulations related to safeguarding, heallh and safety. antibribery and employment law. We considered the extent to which noncomplSance might have a material effect on the financial statements. We also considered those laws and regulatlons that have a direct Impact on the preparalion of the financial statements such as the Companies Act 2006, taxation and pension legislation. We communlcated identified laws and regulations throughout our team and remained alert to any indications of noncompliance throughout the audit. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls). and determined that the principal risks were related to postlng Inappropriate journal enlrles to Increase revenue or reduce expenditure and management bias in accountlng estlmates and Judgemental areas of the financlal statemenls. Audit procedures performed by th8 engagement team Included.. Discussions with management and assessment of known or suspected instances of noncomplSance with laws and regulations and fraud., and Challenging assumptions and judgements made by management in its significant accounting estimates. and Confirmatlon of related partles wlth management, and revlew of transacllons throughoul the period to identify any previously undisclosed transactions with related parties outside the normal course of business., and Identifying and assessing the design effectiveness of controls that management has in place to prevent and detect fraud", and Conductlng interviews with appropriate personnel to gain further Inslght Into the control systems implemented, and the risk of irregularity,. and Reading minutes of meetings of those charged with governance and reviewing correspondence with relevant regulatory aulhorities., and Review of slgnificant and unusual transactions and evaluation of the underlying financial rationale supporting the transactions. and Identifying and testing journal entries, in particular any manual entries made at the year end for financlal slatement preparation., and Performing analytical procedures to idenlify any unusual or unexpected relalionships, including related party transactions, that may indicate risks of material misstatement due to fraud. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases Ihe more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely lo become aware of instances of non-compliance. Page11
The AMAR International Charitable Foundatlon (A company limlted by guarantee) Independent auditors. report to the Members of The AMAR International Charitable Foundation (contlnued) The risk is also greater regarding irregularities occurrlng due to fraud rather than error, as fraud involves Intentlonal concealment, forgery, ¢olluslon, omlsslon or mlsrepresentatlon. As part of an audit In accordance with ISAS (UK), we exerclse professlonal ludgement and maintain professlonal scepticism throughout the audit. We also.. Identify and assess the risks of material misstalement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evid8nc8 that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error. as fraud may involve colluslon. forgery, Intentlonal omlsslons, misrepresentations, or the overrlde of internal control. Obtain an understanding of Internal control relevant lo the audit in order to design audit prOdureS that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the charitable compan$ internal control. Evaluate the approprlateness of accounllng pollcles used and the reasonableness of accountlng estimates and related disclosures made by the Trustees. Conclude on the appropriateness of the Truslees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a malerial uncertainty 8XiSts related to events or conditions that may cast significant doubt on the charitable companWs abillty to contlnue as a golng concern. If we conclude that a material uncertainty exisls, we are required to draw attention in our Auditors, report to the related dlsclosures In the flnanclal statements or, If such disclosures are Inadequate, to modlfy our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditors, report. However, fulure events or conditions may cause the charitable company to cease to continue as a going concern. Evaluate the overall presentation. structure and content of the financial statements, includlng the disclosures, and whether the financial slatements represent the underlying transactions and events In a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our reporl This report Is made solely to the charitable companls members, as a body. accordance with Chapter 3 of Part 16 of the Companles Act 2006. Our audlt work has been undertaken so that we might state to the charltable companys members those matters we are requlred to state to them In an Auditors, report and for no other purpose. To the fullest extent permltted by law, we do not accept or assume responsibllily to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed. Stephen Tanner BSc(Econ) FCA (Senlor statutory audltor) for and on behalf of Kreston Reeves LLP Chartered Accountants Statutory Auditor London Date: 3 September 2024 Page 12
The AMAR Internatlonal Charitsble Foundatlon (A company limited by guarantee) Statement of flnanclal activilles {incorporating income and expendlture account) For the year ended 31 December 2023 Restrlcted Unrestrlcted funds funds 2023 2023 Total funds 2023 Total funds 2022 Note Income from: Donations and legacies Charitable activities Investments 1,993,074 340,654 96,805 2,511 2,333,728 96,805 2,511 2.590,440 47.693 205 Total Income 1,993.074 439.970 2,433,044 2,638.338 Expenditure on: Raising funds Charitable adivities 1,371 577,097 1,371 2,085,647 1,718 2.811,060 1,508,550 Total expendlturo 1,508,550 578,468 2,087,018 2.812,778 Net incomel(expendlture) Transfers between funds 484,524 143,238 (138.498) (143,238) 346.026 (174,440) 14 Net movement In funds 627.762 (281,736) 346,026 (174,440) Reconclllation of funds: Total funds brought forward Net movement in funds 573,090 627,762 (607,389) (281,736) (34,299) 346,026 140,141 (174,440) Total funds carrled forward 1,200.852 (889,125) 311,727 (34,299) The Statement of financial activities includes all gains and losses recognised In the year. The notes on pages 16 to 30 form part of these financial statements. Page 13
The AMAR Internatlonal Charltable Foundation (A company limited by guarantee) Registered number: 03066579 Balance sheet As at 31 December 2023 2023 2022 Note Flxed assets Tangible assets 11 4,717 6,290 4.717 6,290 Current assets Debtors 12 363,187 158,193 663,089 232,313 Fixed assets held for sale Cash at bank and in hand 408,476 1,184,469 640.789 Cr8ditors: amounts falllng due wilhln one year 13 {877,459) (681,378) Net current assets I Ilabilites 307,010 (40,589) Total net assets 311,727 (34,299) Charlty funds Restrfcted funds Unrestricted funds 14 14 1.200,852 (889.125> 573,090 (607,389) Total funds 311,727 (34,299) The Trustees acknowledge thelr responslbilltles for complying with the requirements of the Act with respect to accounling records and preparatlon of flnanclal statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: Baroness Nlcholson of Wlntorbourne Trustee Date.. B2rone,ss Nicholson ofwinterboume I biiaiilable Foundalion AMAk< Ifil61'iiaLIOilu The notes on p es16to3 form part of these financial statements. THE AMAK INI Li%N..' cHAB F(KJNDAI'I4N UK I)."_ 1¢ ri'nrry fHARifi,10474YI UK RELii>i KolIJIAY'. y066$79 Page 14
The AMAR International Charitable Foundatlon (A company Ilmlted by guarantee) statement of cash flows For the year ended 31 December 2023 2023 2022 Note Cash flows from operatlng actlvltles Net cash provided byl(used in) operating activities 17 254,613 (61,600) Change in cash and Cash equivalents in the year Cash and cash equSvalents at the beglnnlng of the year 254,613 (61,600) 470,076 408,476 Cash and cash equival8nts at the end of the year 18 663,089 408.476 Tha notes on pag8s 16 to 30 form part ofthes& financial statements Page 15
The AMAR International Charitable Foundation (A company limited by guarantee) Notes to the financial statements For the year ended 31 December 2023 General information The AMAR International Charitable Foundation is a registered charlty in England. The charStls reglstered address is 1st Floor County House, 100 New London Road. Chelmsford. Essex. Unlted Klngdom, CM2 ORG. The AMAR International Charitable Foundation Is also a registered company Ilmlted by guarantee. The members of the company are the Trustees named on page 1. In the event of the company belng wound up, th8 liability in respect of the guarantee is limlted to £1 per member of the company. Accounting pollcles 2.1 Basls of preparallon of flnanclal statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accountlng 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The AMAR Intemational Charitable Foundation meets the definition of a public b8n8fit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otheiSe stated in the relevant accounting policy. 2.2 Golng concern The charity's activities, together with the factors likely to affect its future development performanc8 and position are set out in the Trustees, Report. The principal risk facing the charity is its ability to generate sufficient unrestricted income to cover unrestrict8d expenditure incurred in fulfilling the objectives of the charitable company. Plans have been put in place by Trustees and Management to ensure that Ihe Charitls core activities are streamlined and the funding of these is improved. Full detalls of these plans can be found within the 'R8s8rves policv section of the Trusteas, report. The Charity continues to hav8 the support of its main funder to continue Its core operatlons, Despit8 th8 OV8rdrawn unrestricted funds, the Trustees have a reasonable expectatlon Ihat the charity has adequate resources to continue for the foreseeable future, supported by events the took place after the balance sheet date. Thus they continue to adopt the golng concern basls of accounting in preparing the financial statements. 2.3 Income 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 income recelvable can be measured reliably. Grants are Included In the Statement of financlal activitles on a receivable basis. The balance of Income recelved for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where Income is received in advance of entitlement of receipt, its recognitlon Is deferred and Included In creditors as deferred income. Where entitlement occurs before Income Is recelved, the income is accrued. Income tax recoverable in relation lo investment income is recognised at the lime the investment Income is receivable. Page 16
The AMAR International Charitable Foundation (A company Ilmlted by guarantee) Notes to the financlal statements For the year ended 31 December 2023 Accounting pollcles {contlnued} 2.4 Expenditure Expenditure is recognlsed once there is a legal or constructive obligatlon to Iransfer economlc benefit to a Ihlrd party, it is probable that a transfer of economic b8nefits will be required in settlement and the amount of the obligation can be measured rellably. Expenditure is classlfled by activity. The costs of each activity are made up of the total of direct costs and shared costs, Including support costs involved In undertaking each actlvlty. Direct costs attributable to a single activlty are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apporlioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the porlion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising actlvlties events and non-charitable trading. Expenditure on charltsble activities Is Incurred on directly undertaking th8 activities whlch further the Charlvs objectives. as well as any assoclated support costs. All expenditure is incluslve of irrecoverable VAT. 2.5 Interest recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity. this is normally upon notification of the interest paid or payable by the Institution with whom the funds are deposited. 2.6 Tangible fixed assets and depreclatlon Tangible fixed assets are initially recognlsed at cost. After recognition, under the cost model, tanglble fixed assets are measured at cost less accumulated depreclatlon and any accumulated impairment losses. All costs Incurred to bring a tanglble fixed asset into Its Intended worklng condition should be Included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less thelr resldual value over their estimated useful lives. Depreciation is provided on the following basis: Fixlures, fittings and equipment 250/0 reducing balance 2.7 Debtors Trade and other debtors are recognised at the settlement amount after any trade dlscount offered. Prepayments are valued at the amount prepald net of any trade dlscounts due. 2.8 Fixed assets h81d for sale Fixed assets held for sale have been recognised on the basis that the organisation has ownership and that the Trustees wish to sell these assets in the next 12 months. 2.9 Cash at bank and In hand Cash at bank and In hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisltion or opening of the deposit Of simllar account. Page 17
The AMAR Internatlonal Charitable Foundation (A company Ilmlted by guarantee) Notes to the flnancial statements For the year ended 31 December 2023 Accountlng policies (continued) 2.10 Liabllltles and provisions Liabilltles are recognised when there is an obligatlon at the Balanc8 sheet date as a result of a past evenl, it Is probable that a transfer of economic beneflt wlll be required In settlement, and the amount of the settlement can be estlmated reliably. Liabllitles are recognised at the amount that the Charlty anticipates it wlll pay to settle the debt or the amount it has received as advanced paym8nts for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is malerial. the provision is based on the present value of those amounts. discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. 2.11 Flnanclal Instruments The Charity only has financial assets and financial liabilities of a klnd that quallfy as basic financial Instruments. Basic financial instruments are initially recognlsed at transaction value and subsequently measured at thelr settlement value wlth the exception of bank loans which are subsequently measur8d at amortised cost using the effective interest method. 2.12 Penslons The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. 2.13 Fund accounting General funds are unr@stricted funds which are avaSlable for use at the dlscretion of the Trustees in furtherance of the general oblectlves of the Charity and which hav8 not been designated for other purposes. Designated funds comprise unrestrlcted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financlal statements. Restricted funds are funds which are lo b8 used In accordance with specific restrictions imposed by donors or which have been raised by the Charlty for particular purposes. The costs of raising and adminlstering such funds are charged against the specific fund. The aim and use of each restrlcted fund is set out in the notes to the financial statements. Investmenl income, galns and losses are allocated to the appropriate fund. Page 18
The AMAR International Charitable Foundation (A company limlted by guarantee) Notes to the financial statements For the year ended 31 December 2023 Income from donations and legacies As restated Total funds 2022 Restrlcted Unrestrlcted funds funds 2023 2023 Total funds 2023 Appeals and donations Grants and donatlons for programmes 725,632 1.267,442 311,190 29.464 1,036,822 1.296.906 568.422 2.022,018 1,993,074 340.654 2,333,728 2.590,440 Tot812022 as restated 2,528,692 61,748 2,590,440 Income from charltable actlvlties Unrestricted funds 2023 Total funds 2023 Total funds 2022 Rents and charges receivable 96,805 96.805 47,693 Total 2022 47,693 47,693 Investment Income Unrestrlcted funds 2023 Total funds 2023 Total funds 2022 Bank interest received 2,511 2,511 205 Total 2022 205 205 Page 19
The AMAR International Charltable Foundation (A company limited by guarantee) Notes to the financial statements For the year ended 31 December 2023 Analysis of expendlture on charilable actlvlties Summary by fund type Restrlcted Unrestricted funds funds 2023 2023 Total 2023 Total 2022 Direct costs 1.508,550 577.097 2,085,647 2,811,060 Total 2022 2,635,627 175,433 2,811,060 Analysls of expenditure by actlvltles Activities undertaken directly 2023 Total funds 2023 Total funds 2022 Direct costs 2,085.647 2,085.647 2.811.060 Total 2022 2,811.060 2,811,060 Page 20
Th8 AMAR Internatlonal Charitable Foundation (A company limited by guarantee) Notes to the flnanclal statements For the year ended 31 December 2023 Analysis of expendlture by activities (continued) Analysis of direct costs Total funds 2023 Total funds 2022 Staff costs D8preciation Operating l@ases, rent of premlses Iraq charitable costs Auditors, remuneration Health care Education and reconciliation Other aid Lossl{profit) on foreign currency Legal and professlonal Administration, travel and subsistence staff trainlng and development 196.398 1,573 22,390 686,275 29,899 291,807 597,076 28,039 8,825 75,568 134,338 13,459 201.539 2,096 28.736 238.226 28,095 (146,794) 595.770 1,806,903 (59.973) 36,911 69,645 9.906 2,085,647 2,811.060 Auditors. remuneratlon 2023 2022 Audlt of overseas operation Fees payable to the Charity's auditor in respect of: Audit of the charity's annual accounts 5,929 15.405 23,970 22,195 Staff costs 2023 2022 Wages and salaries Social security costs Contribution to defined contribution pension schemes 179,188 14,190 3,020 183.342 15,170 3.027 196,398 201,539 Page 21
Th8 AMAR International Charitab18 Foundatlon (A company limited by guarantee) Notes to the financial statements For the year ended 31 December 2023 Staff costs {contlnued) The average number of persons employed by the Charity durlng the year was as follows.. 2023 No. 2022 Overseas charitable activitl8S UK administration 19 20 24 25 The numb8r of employees whose employee benefits (excludlng employer pension costs) exceeded £60,000 was.. 2023 2022 In the band £60,001- £70.000 In the band £70,001- £80,000 The total employment benefits including employer penslon contributions of th8 k8y management personnel were £142,169 (2022: £147,792). 10. Trustees. remuneration and expenses During the year. no Trustees received any remuneration or other benefits (2022 - £NIL). During the year ended 31 December 2023. no Trustee expenses have been incurred (2022 - £NIL). Page 22
The AMAR International Charitable Foundation (A company Ilmlted by guarant88) Notes to the financlal statements For the year ended 31 December 2023 11. Tanglble fixed assets Flxtures, flttlngs and equlpment Cost or valuation At 1 January 2023 80,903 At 31 December 2023 80.903 Depreclatlon At 1 January 2023 Charge for the year 74,613 1,573 At 31 December 2023 76,186 Net book value At 31 December 2023 4,717 At 31 December 2022 6,290 12. Debtors 2023 2022 Due within one year Trade debtors other debtors Prepayments and accrued Income 251,446 36,445 75,296 88,220 144,093 363,187 232,313 Page 23
Th8 AMAR Internatlonal Charitabl8 Foundatlon (A company limited by guarantee) Notes to the financial statements For the year ended 31 December 2023 13. Creditors: Amounts falllng due wlthin one year 2023 2022 Bank overdrafts Trade creditors Other creditors Accruals 4,757 161,725 232,884 478,093 9,421 389,436 141,841 140,680 877,459 681,378 Page 24
Th& AMAR Internatlonal Charitable Foundatlon {A company limited by guarantee) Notes to the financial statements For the year ended 31 December 2023 14. Statement of funds Statement of funds - current year Balance at 31 December 2023 Balance at I January 2023 Transfers Inlout Income Expenditure Unrestrlcted funds Deslgnated funds Ukralne projects 35.717 35,717 General funds General fund (607,389) 404,253 (578,468) {143,238) (924,842) Total Unrestrlct8d funds (607,389) 439,970 (578,468) (143,238) (889,125) Restrlcted funds Africa fund AMAR Cancer fund APPG EMIR fund Escaping Darkness fund Al Waheed PHCCS Iranian refugees Giz BGC Madrastray BGC School Refurb Muslc project Yazidi Nl Group Ukraine ROO BGC Hospital Afghan fund Wlndsor Conference Zeldin fund 43,727 50.000 29,630 {114,321) 43,727 50.000 29,630 114,321 66,800 513,844 (26,256) (162,344) 40.544 351,500 6,400 .110.624 177,788 58,711 80,473 19,858 25,322 138,075 6,400 110.624 186,451 109,437 81,448 (142) (8,663) (186,174} (73,494) 106,531 72,519 20,000 25,322 197,731 28,917 5,903 940.078 8,618 40,281 40.356 (65,559} (940,078) {3,730) (28,141) (14.111) 4,888 17,067 26,245 20,000 4,927 20,000 573,090 1,993,074 (1,508.550) 143,238 1,200,852 Total of funds {34.299) 2,433,044 {2.087,018) 311.727 Page 25
The AMAR International Charitable Foundatlon (A company limited by guarantee) Note5 to the financlal statements For the year ended 31 December 2023 14. Statement of funds (contlnued) Statement of funds - prior year Balance at 31 December 2022 Balance at 1 January 2022 Income Expendlture Unrestrlcted funds General fund {539.884) 109,646 (177,151) (607,389) Restricted funds Africa fund AMAR Cancer fund APPG EMIR fund Escaping Darkness fund Al Waheed PHCCS Iranian refugees Glz BGC School Refurb Music project Yazidi Nl Group Ukraine ROO BGC Hospital ROO - other Afghan fund Windsor Conference Zeldin fund 43,727 50,000 29,630 288,605 11,250 43.727 50.000 29,630 (1.229,577) (114,321) {71,250) (5,156) 826,651 60,000 5,158 6,400 110,624 6,400 110,624 106,531 72,519 20,000 25,322 197,731 140,265 104,708 20,000 {33,734) (32,189) 25,322 333.419 595,770 232,954 16.514 153.255 40.000 (135,688) (595,770) (232.954) (16,514) (242,795) (40,000) 94,467 4,927 20.000 20,000 680,025 2,528,692 (2.635.627) 573,090 Total of funds 140,141 2,638,338 (2,812,778) (34,299) Page 26
The AMAR International Charitable Foundatlon (A company Ilmlted by guarantea) Notes to the financial statements For the year ended 31 December 2023 14. Statement of funds {continued) Transfers The transfers represent excess spend on restricted projects being funded from the general reserve. Descrlptlon of reslricted funds Afrlca fund - lo improve the health of the population of Africa, origln8lly the focus was to be on Yemen. AMAR Cancer fund - to provide cancer screenlng services in Basra. APPG - to enable research into prevention of sexual vlolence in conflict. EMIR fund was set up to build, furnish, equip and operate a small charitable surgical hospital plus supporting services. Escaplng Darkness fund - to provide psychological support to displaced people in Northern Iraq. Al Waheed PHCCs- This fund was set up to run Primary health care units in IDP camps for 18 months. GIZ - to rehabilitate education I training cenlres in Iraq and provide relevant support, etc. BGC Madrastray - A three phrase project to renovate three schools and deliver stipends to school children. This was a new project after the SucsS of the BGC School refurb fund, BGC School Refurb fund - to support the refurblshment of schools from grants provlded by Basra Gas Company. Muslc project- to promote music within IDP camps supported by AMAR. Yazldl fund - to specifically support the Yazidi population wlthln IDP camps. Nl Group was set up for medlcal care. social care and general assistance of the Iraql cltlzen Shams Hisham. Ukraine fund to support Ukrainian refugees in Romania by supplying essential humanitarian supplies and provision of educational, medical and recreational activities. ROO Education to provide education and skills training centres in Iraq and provide relevant support etc. ROO Health - to provide health services to communities local to ROO operations. ROO Other- to support small scale projects within communities local to ROO operations. Afghan fund - to facilitate the evacuatlon of Afghan nationals at risk of persecution. Wlndsor Conference - Conference sponsor8d by ICLRS BYU, that was postponed due to COVID. however facilitated research in the margins. Zeldln fund to facllltate fundraising to assist health and educational charltable activities in countles of operation. BGC Hospltal - This pays for the Hospital guards only. This is not BGC, this should be Basra Hospital. 15. Summary offunds Summary of funds- current year Balance at 31 December 2023 Balanc8 at 1 January 2023 Transfers Inlout Income Expendlture Designated funds General funds Restricted funds 35,717 35,717 404,253 (578,468) (143,238) (924,842> 1,993,074 {1,508,550) 143,238 1.200,852 {607,389) 573,090 {34,299} 2,433,044 {2,087,018) 311,727 Page 27
The AMAR Internatlonal Charitable Foundatlon (A company Ilmited by guarantee) Notes lo the financial statements For the year ended 31 December 2023 15. Summary of funds (contlnued) Summary of funds - prlor year Balance at 31 December 2022 Balance at 1 January 2022 Income Expenditure G@n8ral funds Restricted funds (539.884} 680.025 109,646 (177,151) (607,389) 2,528,692 (2,635,627) 573,090 140,141 2,638,338 (2,812,778) (34.299) 16. Analysis of net assets between funds Analysis of net assets between funds - current year Restrlcted Unrestrlcted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due wlthln one year 4,717 4,717 (16,383) 1,184,469 (877,459) <877,459) 1,200,852 Total 1,200,852 (889,125) 311.727 Analysls of net assets between funds - prlor year Restricted Unrestrict8d funds funds 2022 2022 Total funds 2022 Tangible flxed assets Current assets Creditors due within one year 6,290 6,290 67,699 640,789 (681,378) (681,378) 573,090 Total 573,090 (607,389) (34,299) Page 28
The AMAR Internatlonal Charltable Foundation (A company limited by guarantee) Notes to the flnancial statements For the year ended 31 December 2023 17. Reconciliatlon of net movement In funds to net cash flow from operating activities 2023 2022 Net incomelexpenditure for the year (as per Statement of Financial Activities) 346,026 (174,440) Adjustments for: Depreciation charges (Increase)Idecrease in debtors Increase in creditors (Decrease) in provislons 1,573 (289,067) 196,081 2,096 148,629 36,432 (74,317) Net cash provlded byl(used In) operating actlvltles 254,613 (61,600) 18. Analysls of cash and cash equivalents 2023 2022 Cash In hand 663.089 408,476 19. Analysls of changes in net debt At1 January 2023 Cash flows At31 December 2023 Cash at bank and in hand Bank overdrafts repayable on demand 408,476 (9,421) 254,613 4,664 663,089 {4,757) 399,055 259,277 658,332 20. Pension commllments The charity operates a defined conlribulion pension scheme. The assets of the scheme are held separately from those of the charlty in an independently adminislered fund. The pension cost charge represents conlribulions payable by the charity to the fund and amounted to £3.020 (2022- £3,027). Page 29
The AMAR Internatlonal Charilable Foundatlon (A company limited by guarantee) Notes to the financial statements For the year ended 31 December 2023 21. Operating lease commltments At 31 December 2023 the Charily had commitments to make future minimum lease payments under non- cancellable op8rating leases as follows: 2023 2022 Not later than 1 year 357 500 22. Related party transactions Damon Parker (a trustee of the Charity) Is a dir8Ctor of the Iraq Britain Busin8ss Councll (IBBC), a company limited by guarantee, whlch alms to promote business between Iraq and Britaln. IBBC Is a sub- tenant of The AMAR Internatlonal Charitable Foundation and has been invoiced for the space occupled. AMAR also recharges IBBC for staff time spent on IBBC work. Staff services and overheads recharged totalled £61,088 (2022.. £14,123), with £155,344 due at the year end (2022: £83,160). All these transactions have been made on an arm's length basis. During the year, Trustees made donations to the charity amounting to £2,561. 23. Controlling party There is no ultlmate controlling party. Page 30