Reglstered number.. 03066579 Charity numbor: 1047432 The AMAR International Charltable Foundation (A company limited by guarantee) Trustees. report and flnanclal statements For the year ended 31 Decembar 2024 The AMAR Internatlonal Charltable Foundatlon {A company Ilmlted by guarantee) Contents Page Reference and admlnlslratlve detalls of the Charlty, Its Trustees and advlsers Tru$t•o8' roport Independent audltors, report on the flnanclal statements 7-10 stat•mont of flnan¢lal a¢tlvltlo8 11 Balance sheet 12 Statement of cash flow5 13 Notes to the flnanclal statem8nts 14-29 The AMAR Internatlonal Charltabla Foundatlon (A company Ilmitad by guarant¢6) Rofer6n¢• and admlnlstratlve detalls of the Charlty, Its Trusl88s and advlsers For the yearended 31 Decembgr 2024 Trustees Baroness Nlcholson of Wlnlerboume, Chalrman Dr Theodore ZeldSn Damon John Parker. Secretary Siddik Bakir Sharlene Wells Hawkes Professor David Kerr stanley Blake P8rrish Bishop Alistair Redfem Francesco Gluseppe Mlchele Boardman Mohammed All Charchafchl (resSgned 8 January 2024) Christopher Bryan Robert stott (appolnted 6 January 2025) Company reglstor•d number 03066579 Charlty reglstered numbgr 1047432 Registered office 1st Floor County Hous6 100 New London Road Chelmsford Essex CM2 ORG Prlnclpal operatlng office 3.33 China Works 100 Black Princ6 Road London SE17SJ Company secretary Damon Parker Independent audltors Kreston Reeves LLP Chartered Accountants Statutory Auditor 2nd Floor 168 Shoreditch High Street London EI 6RA Bankers Clydesdale Bank PLC 91 Gresham Street London EC2V 7NQ Solicltors Harcus Parker Melbourne House 4446 Aldwych London WC2B 4LL Page 1 Th8 AMAR Internatlonal Charltable Foundatlon (A company Ilmited by guarantee) Trustees, report For the year endod 31 Do¢8mber 2024 The Trustees present thelr annual report together wllh the audited financial slalemgnts of the Charlty for lh8 1 January 2024 to 31 December 2024. The Annual report seNes the purposes of bolh a Trustees. report and dlreclors, report under company law. The Truslees confimi that th8 Annual report and flnanclal statements of th8 charitable company comply wlth the cutrent slatutory requlremenls, the requlrements of the chahlable comp8nVs governlng document and the provlsions of the Statement of Recommended Practice ISORP) applicablo to ch8rities preparing thelr accounts In accordance wllh Ihe Flnanclal Reporting Standard appllcable In the UK and Republic of Ireland (FRS102) (effective 1 January 2019}. Since the Charity qualifies as small under section 382 of the Companles Act 2006. the Strategic report required of medlum and large companles under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omilled. Objectlves and actlvltles a. Pollcles and obJectivo5 AMAR'S key obj8ctiv8s remain the provision of public health and education. including training, lo significantly under served populallons under contlnuing stress. AMAR'S purpose Is lo improve the quality of Ilf& and provide hope for those whom it serves and lo enable a higher quality of public service by the local and national aulhorflies. AMAR'S maln focus of a¢llvSlles durfng the year remalned In the Federal Republlc of Iraq In¢ludSng KRI with small scale activity and 8UPPOrt to Romania for Romanian disabled children and Ukrainian refugee chlldren. AMAR also promotes rellglous freedom for all. In selling objectives and planning for aclivilies, the Trustees have given due consideration to general guidance publlshed by the Charlty Commission relatlng to public benefit. including Ihe guidance 'PubliG benefit.. running a charity IPB21'. Achlevements and performance In 2024. AMAR ¢onllnued lo build upon the momontum galned Sn 2023, followlng Ihe resumptSon of nomal activity after COVID. While we had maintained our critlcal work throughout the glob81 health crisis, 2024 marked a perSod of renewed vlgour and expanslon. We continued to provide essenllal seNices, Including h8althcare, education, and emergency ald, lo vulnerable and dlsplac8d communltles In or next to confllct zones such as Iraq and Ukralne. In Soulhern Iraq, provision of Social Welfare continued. This provides VOGational training and primary h8allhcare to villagers in the surrounds of oilfield infrastructure, lo receive some part of the benefits which flow to wider Iraq. Our thanks lo Basra Oil Company and Basra En8r9y Company Ltd (who jointly run the Rumaila Oporating Organisatlon) for sponsorlng these prolecls. The prlmary healthcare clinic provided 25,305 consultations to patients across Al Khora in 2024, covering nursing services, lab consultations, vaccinations, dental services, and hospllal referrals. The moblle heallh clinlc In North Rumaila gave over 7.058 ¢onsultatlons in 2024. Followlng the building refresh for the 'Educating Women in Iraq, vocational training cenlre, over 130 women per month attended courses on sewing. computers, and literacy. Thls was slmullaneously supported by the runnlng of a kindergarten and nursery, which gave literacy courses to the children. AMAR ICF has been running the Women Heallh Volunteers Programme for the last 25 years and Is proud to contlnue IhSs prolecl with the support of ROO. The Women Health Volunteers recelved monthly healthcare advisory training and visited over 10,334 families In 2024 to ralse awareness In varlous healthcare Issues and Sdentlfy hospltal referrals. Addltlonally, Health Education in Schools lectures were delivered lo over 33,033 schoolchildren, and 41 community social workers recelved ￿gUlar professlonal tralnlng. Once agaln, 2000 Ramadan box88 were sourced and delivered by the Basra Fiold Team, paid for by the non-profit Surplus from th8 coffee shop in the Rumailah oil field headquarters. In the Kurdistan Region of Iraq, AMAR continued its work supporting Yazidi IDPS through the recovery and operatlon of ￿ Prlmary Health Care Centres In Khanke and Essayan camps, wlth generous support from AIWale8d Philanthropies. In the first 6 month of 2024, AMAR delivered over 46,000 comprehensive medical, mental health, dental, and health educallon servlces. Th5$ one-year pilot project helped restore essenllal healthcare provision following earlier seryice wilhdrawals, building sustalnable capacity and was delivered in close collaboratSon wllh local aulhorllles and Snternalional partners. Page 2 The AMAR Internatlonal Charltable Foundatlon (A company Ilmlted by guarantee) Trustees. report (contlnuedl For tho year andod 31 Decembor 2024 A¢hlovomont$ and porforman¢• {¢ontlnued) In 2024, our support of psychSatric teams Sn the camps reached Sts natural concluslon, marklng the end of 8 four- year programme made posslble through the generous SUPPOrt to Baillie-Gifford. We extend our sincere thanks to Baillie-Gifford for their valued partnership throughout thls impactful period. Building on the successes of 2023, AMAR continued is partnership with tho Slirling Foundation to support Ihe Yazldl muslc project and essenllal vo¢ational skills trainlng in IDP camps In the Kurdistan Region. In 2024, we expanded th8 training c8nlre in the Essayan camp, which is now offering diverse educational opportunllies, Including IT trainlng, English language courses, sewing and deslgn. halrdresslng, and mathematlcs. The Yazidi Ladies Ashty I'peace'l Choir continued to receive skills training with the aim lo find jobs. This prolecl further explored Ihe Ilnk between muslG and menlal health. These Initlallves alm to empower partlcipants with practical skills, fostering economic independence and community resilience. The choir gave a beautiful performance during last yearfs Windsor Dialogue at Cumbedand Lodge, and also at Weslminster Abbey. As part of thls tour In June, the cholr vlsited Oxford Unlverslty during Refugee Week, performlng three times; 8t the Weston Bodleian Llbrary, Sl Michagl's Summertown, and Sommervllle College. After these performances, they had a recordlng for Radlo 3's Music Planet, with Intervlews broadcast on Radio 4 and BBC World Servlce. All thanks to Prof Michael Bochmann and Mr Ashley Goodall for their organisation and enthusiasm. Overall, AMAR thanks AP. Sardar Group, the Slirling Foundation, Stirling Education, the Sorenson Foundation and BalllSe-Glfford for IheSr support for Ihe YazSdls over the year. In June, thg Windsor Dialogue was held al Cumberland Lodgg in Windsor Great Park. The weekend focused on the Ihem8 of falth portablllty and cultural reslllence, partlculady In relation to th8 Yazldi community. Chaired by AMAR Trustee, Rt Revd Dr Alastair Redfem, the event explored the challenges marglnallsed communStSes faGe n preservlng thelr faith and IdentSty amld dISpla￿ment. W& were grateful to all our participants who provided great insight into how faith traditions can be sustain across borders through means such as slorytelling, music, education, and technology. Our special thanks as ever for Ihe partnershlp wllh Prof Brett G. Scharff8 and the International Centre for Law and Religion Studies at the Brigham Young University Law School. Tho Managing Dlrector, Andrew Methven, conlinues to represent the Chairman and Blshop Redfem on the UK FORB Forum and the FORB Forum Iraq Working Group. In July. the ch8rity moved into new serviced offices, once again over Lambeth Bridge. At the end of 2023. de-dollarlzation la pollcy declslon by the Iraql Governmenl to slop the parallel dollar economy and encourage us8 of the Iraq Dinar) and stricter sanctions monitoring by inlemalional banks both took effect, causlng some operatlonal challenges. However, by the end of Q3 In 2024, we had a worklng system lo conllnue uninterrupted delivery of our programmes. AMAR'S work for Ukrainian children in Romania, particularly those with special needs, continued in 2024. We ran our happy summer camp again for Ukralnlan refugees children, with activities including musical performances, painling. and cooking. Our hats and scarves project for Ukrainian refugees flourished lo exlraordlnary16vels - we hoped for 5,000 lo be knitted and distributed, betterlng the 3,000 of 2023 but managed over 23,0001 Each with a personalised note of love 8nd best wish8s from th8 individual knitters. Thes8 handmade sets wlll provlde warmth durSng wlnler, especlally for those havlng lo take shelter without heatlng. We extend our deepest gratitude to Mrs Louise Brown who devised this project, gathering hor Utah friends to achieve this remarkable feat. Our sSncere thanks lo all Ihose Involved In the knStting and dlslributlon of these garments. We successfully sponsored the move of three Afghan refugee women, former pros&cutors who would b6 in danger if retumed home, to a new1Sfe In Amerf¢a. WSlh thanks to the donors who assisted with Ihls. We gave a small grant to Hope & Trust Volunl8eTS (Jordan) via Global Partners in Peace & Doveloprnenl to progress vlsa appllcatlons for 236 Yazldl f8mSlles to Auslralla, and start the process for another 850. Final thanks go lo AAA Holdings and several other major companies for their generous sponsorship and support throughoul Ihe year., to Chrfstophe MSchels and the IBBC for theSr ongolng 8UPPOrt in many different ways,. and to our 501 Ic}13) affiliate in America, The US Friends of AMAR, for their slaunch support Ihrough the year and for thelr wonderful partnership of Iru8 friends. Page 3 The AMAR Internallonal Charitsble Foundatlon (A company Ilmlted by guarantee) Trustees, roport (Contlnuod) For tho yfyar ended 31 DecembOT 2024 Flnanclal r6vlew AMAR seeks and receives fijndlng from private. corporate and in81ilutional donors as well 8s from UN agencles and other International inslitulions. Detalls of incoming r8sources and resources expended are glven in the Statement of Flnanclal A¢tlvSlles. The funding of all AMAR servl¢es remains a Ghallenge partScularly for the emergency rellef work in the camps and for IDPS everywhere as little funding is avallable from the UN and other govemments. Th8 operallng and fundraising environment has remained challenging, but Ihe charity has retalned the programmes throughout the year and looks forward lo expandlng as Ihe situation improves. Golng concern Th8 financlal slalemenls have been prepared on a going concem basis, whlch assumes that the charfty w511 b8 able to meet it8 debts as they fall due. Over811 income has Increased from £2,433,044 In 2023 to £2,465,536. Whilst income has rlsen, expenditure has fallen by 8 more significant amount from £2,087,018 In 2023 to £1,824,635. Due to the nel loss on Iransferred asset held for sale of £329,263 (2023.. £NII), Ihls resulled in an overall surplus of £282,742 compared lo a surplus of £346.026 in the previous year. Durtng the year the Charfty h8d a surplus on unreslricted funds of £1,291,212, resulllng In a increase of the general fund at the y8ar-end to £312.269. Restrlcted funds brought forward from year ended 2023 together wlth the reslricled deficit of £725,297 have resulted in a year*nd balance of £475,555. Therefore total funds have improved from last year of £1,169,508 Ireslaled) to a figure of £1,452.250. b. Reserves poll¢y The Board aims lo hold gener81 reserves equlvalent lo at least 2-3 months, admlnlstrallve costs. Thls wlll be reviewed agaln In the coming year {2025). The deficit which was exacerbated during COVID has now been cleared. Ihrough the Trustees, conllnuSng p18n to Increase charitable income. partlcvlarly unrestricted donallons, and reducing ovethead costs 8s summarised below- Major unrestrlcled donations were recelved in year which claared Ihe unrestricted deficil,. the ownership question over AMAR assets in Basra was posllively resolved. The charlty continues to bear down on 8dminislralive costs. Funding conlinues Io 8UPPOrt a Yazldl muslc project in the KuTdistan Reglon of Iraq. This projeGt Ss belng complemented by Irainlng prolect deslgned to educate young Yazldl vlcllms of ISIS so that they can secure employmenl. A corporate donor has funded a £540,000 school refuTbSshment project in the Basra region that started In September 2023 and comp18ted in the reporting period. A similar project Is expected in 2025. A number of new fund-ralsing app8als are ellher underway or are being planned: A major fundraising event In Utah. Further appeals to sympalhellc prevlous donors to support ongolng work with Ihe YazSdls, partl¢ularly around music, singing and mental health. A $1.5m fundraising oampalgn In 2025 for a support programme for the Yazidis. Flnally, the Trustees recognised that our aim to cap ovethoad cosls at 10Yo in previous proposals to donors was too ambitious. New prolects Snclude ovorhead costs of -12LA¥ , which, when coupled with fair attribulion of dlre¢t manag&menl costs, is in line wilh the average for UK and Inlernallonal charities. Structurei govornance and managemont The company was Incorporated under the Companles Act 1985 on 9th June 1995 in England and Wales and Is Page 4 The AMAR Internatlonal Charltable Foundatlon (A company Ilmlted by guarantee) Trustees, report (contlnued) For th• yoar ended 31 December 2024 Structure, govornanco and managemènt (contlnued) govomed by Ils memorandum and articles of association. The company is a company limlted by guarante8 and nol having 8 share capital, (company regislralion number 3066579), and Ss a registered charity (charity regislralion number 10474321. Each member's guarantee liability is limited to £1. The management of the charitable company Is conducted at meetlngs held by th8 Trustees at regular interv818 as descrfbed In Its memorandum and articles of association. Trustees are recruited based upon Th8 AMAR International Charitable Foundation's (AMAR'S) fields of work and appointed by vole. All Trustees glve Ihelr Ilme voluntarily and receive no beneflls from Ihe charity. Th8 risks to whSch the Gharfly Is exposed, as identified by the trustees, have been reviewed and syslems have or are In the process of being established lo mitigate those rlsks. The malor rlsks Sncurred are in respect of- staff operating In areas where there may be a threat to their personal security or general wellbelng; flnanclal rlsks Ilnked lo the current social and economic situalions,. Durfng Ihe year the charity has continued to strengthen 115 governance processes, policies and procedures to ensure Ih&y either meet or 8xce8d th& relevant standards. Plans for future perlods AMAR Intends tr) dlspose of the orphans, school. After 8 years of successful operatlon, the project would now require extra capital investment from a signlficant extra fvndralslng effort. Funds released will be recycled to support wlder charitable actlvities and costs. Stalement of Trusto&s' Rosponslbllltles The Trustees (who are also the dlreclors of the Charfty for the purposes of company law) are responslble for preparing the Trustees, report and the financial slatem8nls in accordance with appllcable law and United Klngdom Accounting Standards (United Kingdom Generally Accepled Accounting PractlC81. Company law requires the Trustees to prepare financSal statements for each financial Under company law. the Trustees musl nol approve the financial statements unless they are satisfied that they glve a true and falr view of the state of affalr8 of the Charity and of ils incoming resources and applScatlon of resources, including ils income and expenditure, for that period. In preparlng these financial slatemenls, the Trustees are required lo.. select sultable accounllng policies and then apply them consistently., observe the methods and prlnclples of the Charltles SORP {FRS 102). mako judgements and accounting estimates that are reasonable and prudenl. slate wh8lher applicable UK Accountlng Standards (FRS 1021 have been followed, subSe¢t to any materlal departures dlsclosed and explained in the financial slatem8nts', prepare Ihe financial statements on the going concern basis unless il is inappropriale lo presume that the Charlty wlll conllnue In buslness. The Trustees are ￿sponSIble for keeping adequate accounting records Ihat are sufficient to show and explairtr Ihe Charills Ir8nsaclions and disclose wlth reasonable accuracy at any lime the financial posStlon of the Charlty and enable them to ensure that the financial statements comply wllh the Companies Act 2006. They aro also responsible for safeguarding the assets of the Charlty and hence for taking reasonable sleps for the prevention and detection of fraud and other irregularities. Page 5 Th8 AMAR Intornallonal Charltable Foundation (A company Ilmlted by guarantee) Trustees, roport (¢ontlnuod) For th8 year ended 31 December 2024 Disclosure of Informatlon to audltors Each of the persons who are Trustees at the tlme when this Trustees, report Is approved has conflrmed that.. so far as that Trustee is aware, there Is no relevant audit infomiatlon of whl¢h the chariws auditors are unaware. and that Trustee has laken all the steps that ought to have been laken as a Trustee In order to be awaT8 of any rel8vant audit infomialion and lo establish that the charity's 8uditors are aware of that Informatlon. Audltors The auditors, Kreston Reeves LLP, have Indlcated their willingness to Gonllnue In offlce. The designated Trustees will propose a motlon reappointing the audilors at a meetlng of the Trustees. Approyd by order of the members of the board of Trustees and slgned on their behalf by.. Baroness Nlcholson of Wlnt Trustee Date.. rbourne I s gEf Page 6 The AMAR Internatlonal Charltablo Foundatlon (A company Ilmited by guaranto0) Indopendent audltors, report to th6 Members of The AMAR Internatlonal Charftable Foundatlon Oplnlon We have audited the financlal statemenls of The AMAR Inlernatlonal Charitable Foundation (the'chariWI for the year ended 31 December 2024 which comprise Ihe Statement of flnancial activities, the Balance sheet, the Statement of cash flows and the relaled notes, including a summary of significant accounting policies. The financial reportlng framework Ihat has been applied In Iheir preparallon Ss applicable law and UnSted Kingdom Accounting Standards, including Financlal Reporting Standard 102 'The Financial Reportlng St8ndard appIl￿ble In the UK and Republlc of Ireland, (United Kingdom Generally Accepted Accounllng Practice). In our opinion the financial slalemenls.. giva a true and fair vlew of the stale of the charllable companls affairs as at 31 December 2024 and of Its incoming resources and application of resources, including Ils income and expendllure for the year then ended; have been properly prepared In accordance with Uniled Kingdom Generally Accepted Accounting Practice,. and have been prepared in ac¢ordan¢e with the requifemenls of the Companies Act 2006. Basls for opinion We conducted our audlt In accordance wilh Internalional Standards on Audillng (UK) IISAS IUK}l and applicable law. Our responsibilities under those slandards are further descrlbed in the Auditors, responsibilities for the audSt of the financial statements $ectlon of our report. We are independent of Ihe charitable company In accordance with the othical requlremenls that are relevant to our audit of the financial statements in the United Kingdom, ncluding Ihe Financial Reporting Council's Ethlcal Standard, and we have fulfilled our other elhic81 responsibllities In accordance with these requirements. We belleve that the audit evidence we have oblaSned Is suffl¢lent and appropriate to provlde a basis for our oplnlon. Concluslon$ relatlng to going concern In auditing the financial statements, we have concluded that the Trustees, use of the golng concern basis of accounting in the preparation of the financial slalemenls 18 appropriate. Based on the work we have performed, we have not Identified any material uncertaintie8 relatlng to events or conditions thal, Indlvldually or collecllvely, may cast significanl doubt on Ihe charitable companls abillly to contSnue as a going concern for a peiiod of at leasl twelve months from when the financial slatements are aulhorised for issue. Our re8ponsibililies and Ihe respon5ibililies of the Trustees with respect to going concem are described in the relevant sectlons of this report. Page 7 The AMAR Inlornallonal Charltable Foundallon IA cornpany Ilmlt8d by guarantee) Independent audltors. report to the Members of Tho AMAR International Charltsbl8 Foundation (Gontlnued) Other Informatlon The other Information comprisBs the Informatlon Included thg Annual report other Ihan the financlal statements and our Auditors, report thereon. The Trustees are responsible for the other information contained wilhln the Annual report. Our opinion on the flnancial statements does not cover the other information and, except to the extent otherwise expllcltly slated in our report, we do not express any form of assurance conclusion th8reon. Our responslblllly is to read the other Snfomiallon and. in doing so, con8lder whether the other Snfomialion is materially inconsislenl with the financtal statemenls or our knowledge obtained in the course of the audit, or olherwlse appear8 lo be materially mlsstated. If we identify such materfal inconsistencies or apparent material mlsstatements, we are requlred lo determine whether thls glves rise to a material mlsslalement in the financlal slalemenls Ihemselves. If, based on the work we have performed, we conclude that there Is a material mi88latemenl of this other Snformalion, we are required to report Ihat fact. We have nothing to report in this regard. Oplnlon on other matters pres¢rlb¢d by the Companle8 Act 2006 In our opinlon, based on the work undertaken in the course of Ihe audll.. Ihe Snformation given in the Trustees. report for the financial year for which the financial statements are prepared is conslstent with the financial statements. the Trustees. report has been prepared in accordance with applicable legal requirements. Matters on whlch wo are requlred to report by ox¢eptlon In the lighl of our kno￿edge and understanding of the charitable company and its envlronment obtained In the course of the audit, we have not identified material misstatements in Ihe Trustees, report. We have nothing to report in respect of the following mallers in Telation lo whlch Companies Act 2006 requires us lo report to you if, in our oplnS0n: adequate accounting records have not b8en kept, or returns adequate for our audit have not been re¢elved from branches not visited by us. or the financial stalements are not in agreemenl wlth the accounting records and returns., or certain disclosures of Trustees, remuneration specified by law are not made. or we have not recelved all the information and explanations we require for our audit., or the Trustees were nol entitled to prepare the financial statemenls In accordance with the small companies regime and lake advantage of the small companies, exemptions in preparing the Trustees, report and from the requirement to prepare a Strategic report. Re5ponslbllltles of trustee5 As explained more fully in the Trustees, responsibilities statement, the Trustees (who are also the dlrectors of Ihe charitable company for Ihe purposes of company lawl 8re responsible for the preparation of the financial statements and for being satlsfied that they give a true and falr vlew, and for such intemal control as the Trustees determine is necessary to enable the preparation of financial slalemenls Ihat are free from material mlsstalement. whether due to fraud or error. In p￿parIng the financial statements, the Trustees are responslble for assessing Ihe charitable companls abillty to continue as a going Concern, disclosing, as applicable, mallers related to golng concern and using the going concern basls of accounting unless the Trustees ellher Intend lo Ilquid8te the charitable company or to c6ase operations, or have no realistic allernallve but to do so. Page 8 The AMAR Intsmatlonal Charltable Foundatlon IA company limlted by guarantee> Independent audltors. report to the Members of Tho AMAR Internatlonal Charitable Foundatlon Icontlnued) Audltors. responslbllltles for thg audlt of the flnanclal statements Our oblectlves are lo oblaln reasonable assurance about wh8ther Ihe financlal statements as a whole are free from material mlsstatement, whether due to fraud or error, and to issue an Auditors, report that includes our oplnlon. Reasonable assuran￿ is a hlgh level of assurance, but Is not a guarantee Ihal an audll conducted in accordance with ISAS (UK) will always detect a malerSal mlsstatement when it exists. Misslatemenls can arl88 from fraud or error and are considered materlal If, individually or In the aggregale, they could reasonably bg expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, induding fraud, are inStan￿S of non-complianGe with laws and regulations. We design procedures in line with our responsibilllles, outlined above, to detect material mls8tatem8nls In respect of irregularities, ncluding fraud. The exlent to which our procedures are Capable of detecllng irregularities, Sncluding fraud is detailed below.. Capability of the audit in detecllng Irregularities. includlng fraud The objectlves of our audit are lo identify and assess the risks of material mlsSt8lement of the financial statements due to fraud or error., lo obtaln sufficient apprOp￿ate audit evidence regarding the assessed risks of material misstatement due to fraud or error,. and to respond appropriately lo those risks. Based on our understanding of the group and Gharllable sector generally, and through di8CU8sion with the Trustees and other management (as requlred by auditing standards), we idenllfied that the prfnclpal risks of noncompliance with laws and regulations related to safeguarding, health and Safely, antibribery and employment law. We Considered the extent lo which noncompliance might have a material effe¢l on the finanGlal slatements. We also consldered those laws and regulations that have a direct Impacl on Ihe preparation of the flnancial statements such as the Companles Act 2006, laxation and penslon legislation. We communicated identiried laws and regu18tions Ihroughout our team and remained alert lo any indications of noncompllance throughout the audit. We evaluated management's incenllves and opportunltSes for fraudulent manipulation of the financlal statements {includlng the risk of override of controls), and determined that the principal rlsk$ were related to posting inappropfiate journal enlries lo increase revenue or reduce expenditure and managemenl bias ill accounting estimates and judgemental areas of the financial statements. Audit procedures performed by the engagement team included.. DSscus8ions with management and assessment of known or suspected instan￿8 of nonGomp118nce with laws and regulations and fraud. and Challenging assumptions and Judgements made by management in Its slgnificant accountlng eslimales. and Confirmation ol related parties with management. and review of transactions throughout the period to identify any previously undisclosed transactions wilh relaled parties outside Ihe normal course of business- and Identifying and assessSng the design effectiveness of controls that management has in place to prevent and delect fraud., and Conducting interviews with appropriate personnel lo gain further Inslght into Ihe control systems implemenled, and Iho risk of irregularity,. and Reading minutes of meetings of Ihoge charged wlth governance and revlewlng correspondence with relevant regulatory authorities., and Review of significant and unusual transactions and evaluation of the underlying financial rationale supporting the Iransaolions. and Idenllfylng and testing Journal enlries, Sn particular any m8nual entries made at the year end for finanGlal statement prepar8tlon' and Perfomiing analytlcal procedures to Sdenlify any unusual or unexpecled relationships, including related party transactions, that may indicate risks of material misstatement due lo fraud. Because of the Inherent limitations of an audit, Ihere is a risk that we wll not detect all Irregularities, Sncluding those leading to a materfal mlsslatement In the financial slatement8 or non-compliance with regulalion. This risk increases the more that compliance with a law or regulation Is removed from the events and transactions reffle￿ed in the financial slatemenls, as we will be less likely to become aware of instances of non-compliance. Page 9 The AMAR Intornallonal CharStabl• Foundatlon IA company Ilmlted by guarantge) Independent audltors. report to Iho Mombers of The AMAR Internallonal Charitable Foundation (contlnued) The rlsk Is also greater regarding irregularilles occurrfng due lo fraud rather than error, as fraud involves intentional concealment, forgery, colluslon, omission or misrepresent8tlon. As part of an audit Sn accordance with ISAS {UK), we exercise professSonal judgement and mainlain professional sceplicism Ihroughout the audSt. We also.. Idenllfy and 8ssoss the risks of material misstatemenl of the financial statements, whether due to fraud or error, deslgn and perform audit procedures responsive to those risks, and obtaln audit evidence that is sufficlent and appropriale lo provide a basis for our opinion. The rlsk of not detectlng 8 material misstatemenl resulting from fraud Is higher than for one resulting from error, as fraud may Involve collusion, forgery, intenlional omissions, misrepresenlation8, or the override of internal conlrol. Obtain an understanding of intemal control relevant to the audit in order to deslgn audit procedures that are 8ppropriate in the cSrcumslances, but not for the purpose of expresslng an oplnlon of the effectiveness of the charitable compantys intemal control. Evaluate th8 appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees. Conclude on the appropriateness of the Trustees, use of the golng concern basts of accounting and, based on the audit ovidence obtained, whether a material uncertalnty exlsts related lo ovenls or conditions that may cast significant doubt on Ihe charitable companvs ability to continue as a going concem. If we conclude that a material uncertainty exisls, we are required lo draw attention in our Auditors, report lo Ihe related dls¢losures in the financlal slatemenls or, If such disclosures are Inadequate, lo modlfy our opinion. Our conclusions ara based on the audit evidence obtained up to the date of our Auditors, report. However, future events or condlllons may cause the charltable company to cease to continu8 as a going Concern. Evaluate Ihe overall Presentallon, structure and conlent of the finan¢Sal statements, Includlng the disclosures, and whether the financial statements represent the underlying Iransactlons and ev8nls Sn a manner thal 8chieves fair presenlation. We communicate with Ihose charged with governance regarding, among other matters. the planned scope and liming of the audit and signifirAnt audit findings, includSng any significant deficSencies in intemal control that we identify during our audil. Use of our report This report is made solely lo the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of Iho Companles Act 2006. Our audlt work has been undertaken so that we mlght state to the ¢h8ritable companW8 members those matters we aro requlred to slat8 to them in an Auditors, report and for no other purpose. To the fullest extent permilled by law. we do not accept or assume responsibility lo anyone olher than the charitsble company and Ils members, as a body, for our audll work, for this report, or for the opinion5 we h8ve formed. ¥ckP Samantha Rouse FCCA DChA (Senlor statutory audltor) for and on behalf of Kreslon Reeves LLP Chartered Accountants stalutory Auditor London 16 September 2025 Page 10 The AMAR Internalional Charltable Foundation (A ¢ompany Ilmited by guarantee) Slatoment of flnanclal activiti0$ (Incorporatlng Incomo and 8xpondlture account) For the year endod 31 December 2024 As restated Totsl funds 2023 Restrictod Unrestrlctod funds funds 2024 2024 Total funds 2024 Notè Income from: Donatlons and legacies Charitable activities Investments other Income 1,434,491 56,639 64,958 211 909,237 1,491,130 64,958 211 909,237 2,333,728 96,805 2,511 Total Income 1,434,491 1,031,045 2,465,536 2,433,044 Expendlture on: Ralsing funds Charitsble 8Ctivities 21,424 2,142,169 5,493 (344,451) 26,917 1,797,718 1,371 2,085,647 Total expendlturo 2,163,593 (338,958) 1,824,635 2,087,018 Net (expendlture)Iln¢ome before net losses on Investments N8t losses on transferred asset h&ld for sale 1729,102) 1,370,003 640,901 346,026 (329,263) (329,263) Net lexpendlturg)Iln¢om8 Transfers be￿een funds 1729,1021 3,805 1.040,740 (32,701) 311,638 (28,896) 346,026 17 Net movement In funds 1725,2971 1,008,039 282,742 346,026 Reconclllatlon of funds: Total funds broughl fomard as prevlously stated Prior year adlustment 1,200,852 (31,344) 1,169,508 (34,299) 857,781 Total funds broughl forward as restated Net movement In fvnds 1,200.852 1725,297) (31,344) 1,008,039 1,169,508 282,742 823,482 346,026 Total fund$ carrled forward 475,555 976,695 1,452,250 1,169,508 The Slalement of flnanclal activltles Includes all galns and losses recognlsed In the year. The notes on pages 14 10 29 form part of these financlal statements. Page11 Thè APIIAR Inlernatlonal Charltabl6 Foundation (A Company Ilmlted by guarantee) Reglstered numbfrr: 03066579 Balan¢e sheet As at 31 Dec•mb•r 2024 As restated 2023 2024 Nota Flxed assets Tanglble assets 12 4,930 916,599 4,930 916,599 Current a$$ets Debtors Fixed assets held for sale C88h al bank and Sn hand 13 250,911 664,417 726,416 363,187 158,193 663,089 14 1,641,744 1,184,469 Credllors- amounts falllng due withln one year 15 (194,424) {931,560) Net current assets 1,447,320 252,909 Total nel assets 1,452,250 1,169,508 Charlty funds Restricted funds Unreslricled funds 17 475,555 976,695 1,200,852 (31,344} 17 Total funds 1,452,250 1,169,508 The Trustees acknowledge Iheir responsibi1Sties for complying with the requirements of the Act with respect to accounting records and preparation of financial slatem8nts. The financial slatement8 hav8 been prepared in accordance with the provislons appli¢able to enlille5 suble¢l to the small companies regime. The finan¢l81 statem roved and aulhorised for Issue by the Trustees and signed on Ihelr behalf by: on¢$$ Nl¢holson of Ivlntorbourne Trustee Dale.. i) SLTI The notes on pages 14 to 29 fom) part of Ih8se financlal statements. Page 12 Tho AMAR Internallonal Charltsble Foundation (A ¢ompany Ilmlted by guaranleel Statement of cash flows For the year ended 31 Dècomber 2024 2024 2023 Note Cash flows from op$ratlng actlvlties Net cash provided byllus&d In) operating activllies 20 (839,814) 254,613 Proceeds from Ihe sal8 of hospital Purchase of tanglble fixed assets 909,237 16,096) 12 Not cash provlded by Invostlng actlvltles 903,141 Change In cash and cash equlvalents In thg yoar Cash and cash equivalents al the begSnnlng of the y8ar 63,327 663,089 254,613 408,476 Cash and cash oquivalonts at the end of th8 y•ar 21 726,416 663,089 The notes on pages 14 to 29 form part of these financlal 8tatem8nts Page 13 The AMAR Intomatlonal Charltable Foundatlon (A company Ilmlted by guarantee) Notes to the flnanclal statoment8 For the yoar onded 31 December 2024 Genoral Infomiatlon The AMAR Intem8tSonal Charitable Foundatlon Is a registered charity in England. The chariws reglstered address Is 1st Floor County House, 100 New London Road, Chelmsford, Essex, Unlted Kingdom, CM2 ORG. The AMAR IntematSonal Charltable Foundation Ss also a registered company Ilmlled by guarantee. The members of Ihe company aro the Trustees named on page 1. In the event of the company being wound up, the liability in respecl of the guarantee is Ilmited lo £1 per member of the company. Accounllng poll¢las 2.1 Basls of preparatlon of flnan¢lal statements The financlal statements have been prepared in accordance wlth the Charities SORP (FRS 102) - Accounting and Reporllng by Charities: Statement of Recommended Pra¢llce applicable to charllles preparlng thelr accounts in accordance wlth the Financial Reporting Standard applicable In the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), th8 Financial Reporting Standard applicable In the UK and Republic of Ireland (FRS 1021 and the Companies Act 2006. The AMAR Inlernallonal Charitablè Foundallon meets the definitlon of 8 public benefit enllly under FRS 102. Assets and IlabllltSes are Initially recognised at hlslortcal cost or transactlon value unless olherwiso slated In the relevant accounting policy. 2.2 Golng concern The Chariws acllvltles, logether wllh th8 factors Ilkely lo affect ils future development performance and poslllon, are sel out in the Trustees. Report. The principal rSsk facing the charity remalns its ablllty to generate sufflclent unrestricted income to cover overhead expenditure whlle delivering its charitable objecllves. Over th8 last few years, AMAR has slreamllned Its Overhead funcllon lo mlnlmlse this demand. As expected in the 2023 report. during this reportlng perfod. the charity cleared its unreslrrcted deficSt. The Gharlty has Teasonable expectatlon that fundralsing for 2025 and unrestrlcted donallons will continue lo cover the risk identified above, and so the charity is a going Concern. 2.3 Income All Income 15 recognlsed once the Charity has entlllement to the Income. It Is probable that the incom8 wlll be received and the amount of Income receivable can be measured reliably. Grants are In¢luded in the Statement of financial activities on a receivable basis. The balance of Income received for speclfic purposes but not expended durlng the period is shown In Ihe relevant funds on the Balance sheet. Where Income is received in advance of enlillement of re¢elpt, recognition is defeffed and included in creditors as d8ferred incom&. Where entitlement occurs befor8 income Is received, tho income Is acctued. Income tax recoverable In relatlon to Snvestment income is recognised at the tlme the Investment Income is receivable. Page 14 The AMAR Internatlonal Charitablo Foundatlon (A ¢ompany Ilmlted by guarantee) Notos to the financlal statements For the year ended 31 Do¢ombor 2024 A¢¢ountlng pollcles Icontlnued) 2.4 Expondlture Expendlture is recognised once there Is a legal or conslructlve obllgation to Iransfor economic benefit to a third paty, it is probable that a Iransfor of economic benefits will be requlred in selllement and th8 amount of Ihe obligation can be measured reliably. Expendlture 1$ classified by acllvlly. The costs of each activity are made up of the total of direcl costs and shared costs, Includlng support costs involved In undertaking each activity. Dlrect costs attributable to a slngle activity are allocated directly to that activity. Shared costs whlch contribute to more than one activity and support costs which are not attributable to a slngle activity are apportloned be￿een those actlvllles on a basis consistent wlth the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges allocated on Ihe portion of thg asset's use. Expenditure on ralslng funds Includes all expendlture Incurred by the Charlty lo ralse funds for Its charitable purposes and includes costs of all fundraising activllles events and non 2024 Transfers Inlout Income Expendlture Deslgnated funds General funds Restricted funds 947,599 (978,943) 1,031,045 1,200,852 1,434,491 (30,853) 369,811 (2,163,593) 76,943 {109,644) 3,805 (329,263) 664,426 312,269 475,555 1,169,508 2,465.536 (1,824,635) (28,896) (329,263) 1,452,250 Summary offunds- prloryear As restated Balance at 1 January 2023 Ba18nce at 31 As restated Income Expendilure Transfers nlout Decemb&r 2023 Deslgnated funds General funds Restricted funds 932.607 1661,490) 573.090 35,717 404,253 1.993,074 (20,725) 947,599 (578.468) (143,2381 1978,943) 11,508,550) 143,238 1,200,852 844,207 2.433,044 12,107,743) 1.169,508 19. Analysls of net assets between funds Analysls of net assets botwe&n fund8 - current perlod Restrlcted Unrestrictod funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due wllhln one year 4,930 665,049 (194,424) 4,930 1,641,744 (194,4241 976.695 Total 475,555 976,695 1,452,250 Page 27 The AMAR Intornatlonal Charltabl8 Foundatlon (A company Ilmltod by guarantee) Notes to the flnanclal statemgnts For the year end¢d 31 D8cemb8r 2024 19. Analysls of not a$$ots b6tween funds (contlnuedl Analysis of ngt assets botwoon funds - prlor period Restrl¢ted Unrestricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due withln one ye8r Prior y8ar adjustment 916.599 916,599 (16,383) 1.184,469 (931.560) 1931,560) {857,781) 1857,781) 1,200,852 Total 1,200,852 {889,125) 311,727 20. Reconciliation of not movement In funds to n?t cash flow from operatlng activities 2024 2023 Net Income for Ihe period las per Statemenl of Financial Aclivilies) 311,638 346.026 Adjustmants for: Depreclallon charges Transfer belween funds Lossl(profil) on the sale of hospital Lossl(profit) on the sale of assets (Incr&ase)Idecrease In debtors Increasel(decreasel in creditors Falr value movement for asset held for sale 22,368 {28,896) 1909,237) 59,910 112,276 {737,136) 329,263 1,573 (289,067) 196,081 Net cash provlded byllused Inl operatlng a￿1vItIeS (839,814) 254,613 21. Analysls of cash and ¢ash equlvalents 2024 2023 Cash In hand 726,416 663,089 Page 28 The AMAR Internatlonal Charltable Foundatlon {A company Ilmltod by guaranleel Note$ to the flnancial statomants For the year onded 31 December 2024 22. Analysis of ¢hanges In net debt At1 January 2024 Cash flows At31 Decembor 2024 Cash at bank and In hand Bank overdrafts repayable on demand 663,089 (4,757} 63,327 4,757 726,416 658,332 68,084 726,416 23. Penslon commltments The charfty operates 8 defined contrlbutlon pension scheme. The assets of the scheme ar8 held separately from those of Ihe charity in an independently administered fund. The pension cosl charge represents contrlbullons payable by the charlty to the fund and amounted to £32,20112023- £3,020). 24. Opgratlng lease commltments At 31 December 2024 the Charity had commitments lo make future minimum lease payrnents under non- cancellable op8rallng leases as follows.. 2024 2023 Not later than 1 year Later than 1 year and not laler than 5 years 923 2,342 357 3,265 357 25. Related party transa¢tlons Damon Parker (a trustee of the Charity) Ss a director of the Iraq BritaSn Buslness Council (IBBC), company limlled by guarantee, which alms to promote busSne$s be￿een Iraq and Britaln. IBBC is a sub- tenant of The AMAR Intemational Charitable Foundation and has been Involced for the space occupied. AMAR also recharge8 IBBC for staff time spent on IBBC work. Staff services and overheads recharged tolaled £64,958 {2023.' £61,088), with £74,540 due at the year end 12023.. £209,445). All these transactions have been made on an arm's length basis. During the year, Trustees made donatlons lo the charity amounting to £11,000 (2023.. £2,561). 26. Controlllng party There Is no ullimato controlllng p8rty. Page 29