**REGISTERED CHARITY NUMBER: 1053654** ## **REPORT OF THE TRUSTEES AND** ## **UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 DECEMBER 2020** ## **FOR** **THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)** Mehta & Tengra Chartered Accountants 24 Bedford Row London WC1R 4TQ **THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|2| |**Independent Examiner's Report**||3|| |**Statement of Financial Activities**||4|| |**Balance Sheet**||5|| |**Cash Flow Statement**||6|| |**Notes to the Cash Flow Statement**||7|| |**Notes to the Financial Statements**|8|to|13| |**Detailed Statement of Financial Activities**||14|| ## **THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020** The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The primary objectives of the charity are as follows: 1. Education/Training 2. Advancement of health 3. Relief of poverty 4. Overseas aid 5. Promotion of religious activities 6. Community development ## **Significant activities** The Noon Memorial Legacy Trust received funds during the year of Euro 100,000 (£81,947) from the Kerry Group. ## **Public benefit** The trustees have paid due regard to the charity commissioners guidance on Public Benefit in deciding what activities the charity should undertake. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** No charitable activities occured during the year. ## **FINANCIAL REVIEW** ## **Financial position** The Trusts restricted reserves as at the year end have been appointed by the Trustees for payment to Zeen Zar Foundation whose principal activity is the running of a hospital in India. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Charity number** 1053654 ## **Principal address** 25 Queen Anne's Gate St James Park London SW1H 9BU Page 1 ## **THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020** ## **Trustees** Mrs Z A Harnal A M Jepson A D W Robinson Mrs Z N Sekhon A K Shirazi Lord Patel of Bradford OBE The original name for The Noon Memorial Legacy Trust was Noon Foundation. The date of change was 4 October, 2016. ## **Independent Examiner** Jehangir J Mehta Chartered Accountant Mehta & Tengra Chartered Accountants 24 Bedford Row London WC1R 4TQ Approved by order of the board of trustees on 26 October 2021 and signed on its behalf by: Mrs Z A Harnal - Trustee Page 2 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)** ## **Independent examiner's report to the trustees of The Noon Memorial Legacy Trust (formerly Noon Foundation)** I report to the charity trustees on my examination of the accounts of The Noon Memorial Legacy Trust (formerly Noon Foundation) (the Trust) for the year ended 31 December 2020. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Jehangir J Mehta Chartered Accountant Mehta & Tengra Chartered Accountants 24 Bedford Row London WC1R 4TQ 26 October 2021 Page 3 ## **THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020** |Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**1,308**
**EXPENDITURE ON**
**Charitable activities**
3
Governance Cost
**620**
Support Cost
**2**
Noon Memorial Hospital
**-**
Other donations
**-**
**Total**
**622**
**NET INCOME/(EXPENDITURE)**
**686**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**5,862**
**TOTAL FUNDS CARRIED FORWARD**
**6,548**|Restricted
funds
£
**81,947**
**-**
**9,298**
**-**
**-**
**9,298**
**72,649**
**296,660**
**369,309**|**2020**
**Total**
**funds**
**£**
**83,255**
**620**
**9,300**
**-**
**-**
**9,920**
**73,335**
**302,522**
**375,857**|2019
Total
funds
£
294,167| |---|---|---|---| ||||| ||||1,300| ||||1,528| ||||321,765| ||||834| ||||| ||||325,427| ||||(31,260)| ||||333,782| ||||| ||||302,522| The notes form part of these financial statements Page 4 ## **THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)** ## **BALANCE SHEET 31 DECEMBER 2020** |Unrestricted
fund
Notes
£
**CURRENT ASSETS**
Debtors
8
**6,329**
Cash at bank
**1,419**
**7,748**
**CREDITORS**
Amounts falling due within one year
9
**(1,200)**
**NET CURRENT ASSETS**
**6,548**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**6,548**
**NET ASSETS**
**6,548**
**FUNDS**
10
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
**1,088**
**368,221**
**369,309**
**-**
**369,309**
**369,309**
**369,309**|**2020**
**Total**
**funds**
**£**
**7,417**
**369,640**
**377,057**
**(1,200)**
**375,857**
**375,857**
**375,857**
**6,548**
**369,309**
**375,857**|2019
Total
funds
£
4,163
301,339| |---|---|---|---| ||||305,502| ||||(2,980)
302,522
302,522| ||||302,522| ||||5,862
296,660
302,522| The financial statements were approved by the Board of Trustees and authorised for issue on 26 October 2021 and were signed on its behalf by: Z A Harnal - Trustee The notes form part of these financial statements Page 5 ## **THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)** ## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020** |Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by/(used in) operating activities
**Change in cash and cash equivalents in the**
**reporting period**
**Cash and cash equivalents at the beginning of**
**the reporting period**
**Cash and cash equivalents at the end of the**
**reporting period**|**2020**
**£**
**68,301**
**68,301**
**68,301**
**301,339**
**369,640**|2019| |---|---|---| |||£| |||(36,477)
(36,477)
(36,477)
337,816
301,339| The notes form part of these financial statements Page 6 ## **THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)** ## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020** ## **1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES** |**ACTIVITIES**||| |---|---|---| |**Net income/(expenditure) for the reporting period (as per the Statement of**
**Financial Activities)**
**Adjustments for:**
Increase in debtors
Decrease in creditors
**Net cash provided by/(used in) operations**|**2020**
**£**
**73,335**
**(3,254)**
**(1,780)**
**68,301**|2019| |||£
(31,260)
(37)
(5,180)
(36,477)| ## 2. **ANALYSIS OF CHANGES IN NET FUNDS** ||At 1.1.20|Cash flow|**At 31.12.20**| |---|---|---|---| ||£|£|**£**| |**Net cash**|||| |Cash at bank|**301,339**|**68,301**|**369,640**| ||**301,339**|**68,301**|**369,640**| |**Total**|**301,339**|**68,301**|**369,640**| The notes form part of these financial statements Page 7 **THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Allocation and apportionment of costs** All support costs are allocated to the charitable activities of the charity and raising funds based on the estimated staff hours worked on each activity. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. continued... Page 8 ## **THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **2. DONATIONS AND LEGACIES** |Kerry Group
Abbas Dadabhai
Other donations|**2020**
**£**
**81,947**
**-**
**1,308**
**83,255**|2019| |---|---|---| |||£| |||86,934
205,632
1,601
294,167| ## **3.** ## **CHARITABLE ACTIVITIES COSTS** |**CHARITABLE ACTIVITIES COSTS**|| |---|---| ||Support| ||costs (see| ||note 5)| ||£| |Governance Cost|**620**| |Support Cost|**9,300**| ||**9,920**| ## **4. GRANTS PAYABLE** |**GRANTS PAYABLE**||| |---|---|---| |Noon Memorial Hospital
Other donations|**2020**
**£**
**-**
**-**
**-**|2019| |||£
321,765
834
322,599| ## **5. SUPPORT COSTS** |**SUPPORT COSTS**||||| |---|---|---|---|---| ||||Governance|| ||Management|Finance|costs|Totals| ||£|£|£|£| |Governance Cost|**-**|**-**|**620**|**620**| |Support Cost|**9,298**|**2**|**-**|**9,300**| ||**9,298**|**2**|**620**|**9,920**| continued... Page 9 ## **THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **5. SUPPORT COSTS - continued** Support costs, included in the above, are as follows: |Support costs, included in the above, are as follows:||||| |---|---|---|---|---| ||||**2020**|2019| ||Governance|Support|Total|Total| ||Cost|Cost|activities|activities| ||£|£|**£**|£| |Foreign currency conversion loss|**-**|**9,298**|**9,298**|**1,453**| |Bank charges|**-**|**2**|**2**|**75**| |Overprovision of accountancy|**(580)**|**-**|**(580)**|**-**| |Accountancy|**1,200**|**-**|**1,200**|**1,300**| ||**620**|**9,300**|**9,920**|**2,828**| |||||| ## **6. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019. ## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
1,600
**EXPENDITURE ON**
**Charitable activities**
Governance Cost
1,300
Support Cost
75
Noon Memorial Hospital
-
Other donations
834
**Total**
2,209
**NET INCOME/(EXPENDITURE)**
(609)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
6,471|Restricted
funds
£
292,567
-
1,453
321,765
-
323,218
(30,651)
327,311|Total
funds
£
294,167| |---|---|---| |||| |||1,300| |||1,528| |||321,765| |||834| |||| |||| |||325,427| |||| |||(31,260)| |||333,782| |||| continued... Page 10 ## **THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** |**7.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
Total
fund
funds
funds
£
£
£
**TOTAL FUNDS CARRIED FORWARD**
5,862
296,660
302,522
**8.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2020**
2019
**£**
£
Other debtors
**7,417**
4,163
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2020**
2019
**£**
£
Other creditors
**1,200**
2,980
**10.**
**MOVEMENT IN FUNDS**
Net
movement
At
At 1.1.20
in funds
31.12.20
£
£
£
**Unrestricted funds**
General fund
**5,862**
**686**
**6,548**
**Restricted funds**
Noon Memorial Hospital
**295,660**
**72,649**
**368,309**
Uniiversity of East London--Noon Centre
**1,000**
**-**
**1,000**
**296,660**
**72,649**
**369,309**
**TOTAL FUNDS**
**302,522**
**73,335**
**375,857**
Net movement in funds, included in the above are as follows:
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
**Unrestricted funds**
General fund
**1,308**
**(622)**
**686**
**Restricted funds**
Noon Memorial Hospital
**81,947**
**(9,298)**
**72,649**
**TOTAL FUNDS**
**83,255**
**(9,920)**
**73,335**|||| |---|---|---|---| ||||Total
funds
£| ||||| ||||302,522| ||||| ||||| ||||2019
£| ||||4,163| ||||| ||||| ||||2019
£| ||||2,980| ||||| continued... Page 11 **THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **10. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |**Unrestricted funds**
General fund
**Restricted funds**
Noon Memorial Hospital
Uniiversity of East London--Noon Centre
**TOTAL FUNDS**|At 1.1.19
£
6,471
326,311
1,000
327,311
333,782|Net
movement
in funds
£
(609)
(30,651)
-
(30,651)
(31,260)|At
31.12.19
£
5,862
295,660
1,000| |---|---|---|---| ||||296,660| ||||302,522| Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Noon Memorial Hospital
**TOTAL FUNDS**|Incoming
resources
£
1,600
292,567
294,167|Resources
Movement
expended
in funds
£
£
(2,209)
(609)
(323,218)
(30,651)
(325,427)
(31,260)| |---|---|---| continued... Page 12 **THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **10. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Noon Memorial Hospital
Uniiversity of East London--Noon Centre
**TOTAL FUNDS**|At 1.1.19
£
6,471
326,311
1,000
327,311
333,782|Net
movement
in funds
£
77
41,998
-
41,998
42,075|At
31.12.20
£
6,548
368,309
1,000| |---|---|---|---| ||||369,309| ||||375,857| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|2,908|(2,831)|77| |**Restricted funds**|||| |Noon Memorial Hospital|374,514|(332,516)|41,998| |**TOTAL FUNDS**|377,422|(335,347)|42,075| ## **11. RELATED PARTY DISCLOSURES** Some of the trustees of Noon Memorial Legacy Trust are also Trustees of Zeen -Zar Charitable Foundation Trust (Noon Memorial Hospital), registered in India. During the year £Nil ( 2019: £236,000 was donated to this trust in India. Page 13 ## **THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Kerry Group
Abbas Dadabhai
Other donations
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Grants to institutions
**Support costs**
**Management**
Foreign currency conversion loss
**Finance**
Bank charges
**Governance costs**
Overprovision of accountancy
Accountancy
Total resources expended
**Net income/(expenditure)**|2020
£
**81,947**
**-**
**1,308**
**83,255**
**83,255**
**-**
**9,298**
**2**
**(580)**
**1,200**
**620**
**9,920**
**73,335**|2019
£
86,934
205,632
1,601
294,167
294,167
322,599
1,453
75
-
1,300
1,300
325,427
(31,260)| |---|---|---| This page does not form part of the statutory financial statements Page 14