REGISTERED CHARITY NUMBER: 1053654
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
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 2021
| 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 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. 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:
-
Education/Training
-
Advancement of health
-
Relief of poverty
-
Overseas aid
-
Promotion of religious activities
-
Community development
Significant activities
The Noon Memorial Legacy Trust received funds during the year of £50,000 from the Kerry Group, £25,000 from the Suterwalla brothers and other donations totalling £30,452.
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
The main charitable activities were as follows:
Advancement of Health
The Noon Memorial Legacy Trust paid £260,000 to Zeen Zar Charitable Foundation which operates a hospital in Rajastan, India and whose main purpose is to provide free or subsidized medical treatment to those who cannot afford it.
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
Page 1
THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
Principal address
25 Queen Anne's Gate St James Park London SW1H 9BU
Trustees
Mrs Z A Harnal A M Jepson (deceased 1/7/2022) 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 27 October 2022 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 2021.
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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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
27 October 2022
Page 3
THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 - Other income - Total - EXPENDITURE ON Charitable activities 3 Governance Cost 1,200 Support Cost - Noon Memorial Hospital - Total 1,200 NET INCOME/(EXPENDITURE) (1,200) RECONCILIATION OF FUNDS Total funds brought forward 6,548 TOTAL FUNDS CARRIED FORWARD 5,348 |
Restricted funds £ 105,453 11,365 116,818 - 113 260,000 260,113 (143,295) 369,309 226,014 |
2021 Total funds £ 105,453 11,365 116,818 1,200 113 260,000 261,313 (144,495) 375,857 231,362 |
2020 Total funds £ 83,255 |
|---|---|---|---|
| - | |||
| 83,255 | |||
| 620 | |||
| 9,300 | |||
| - | |||
| 9,920 | |||
| 73,335 | |||
| 302,522 | |||
| 375,857 | |||
The notes form part of these financial statements
Page 4
THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)
BALANCE SHEET 31 DECEMBER 2021
| Unrestricted fund Notes £ CURRENT ASSETS Debtors 8 6,329 Cash at bank 1,419 7,748 CREDITORS Amounts falling due within one year 9 (2,400) NET CURRENT ASSETS 5,348 TOTAL ASSETS LESS CURRENT LIABILITIES 5,348 NET ASSETS 5,348 FUNDS 10 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ 3,698 222,316 226,014 - 226,014 226,014 226,014 |
2021 Total funds £ 10,027 223,735 233,762 (2,400) 231,362 231,362 231,362 5,348 226,014 231,362 |
2020 Total funds £ 7,417 369,640 |
|---|---|---|---|
| 377,057 | |||
| (1,200) 375,857 375,857 |
|||
| 375,857 | |||
| 6,548 369,309 375,857 |
The financial statements were approved by the Board of Trustees and authorised for issue on 27 October 2022 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 2021
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash (used in)/provided by operating activities Cash flows from investing activities Sale of intangible fixed assets Net cash provided by investing 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 |
2021 £ (157,270) (157,270) 11,365 11,365 (145,905) 369,640 223,735 |
2020 |
|---|---|---|
| £ | ||
| 68,301 68,301 - - 68,301 301,339 369,640 |
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 2021
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| ACTIVITIES | ||
|---|---|---|
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Profit on disposal of fixed assets Increase in debtors Increase/(decrease) in creditors Net cash (used in)/provided by operations |
2021 £ (144,495) (11,365) (2,610) 1,200 (157,270) |
2020 |
| £ 73,335 - (3,254) (1,780) 68,301 |
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.1.21 | Cash flow | At 31.12.21 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 369,640 | (145,905) | 223,735 |
| 369,640 | (145,905) | 223,735 | |
| Total | 369,640 | (145,905) | 223,735 |
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 2021
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 2021
2. DONATIONS AND LEGACIES
| Kerry Group Suterwalla brothers Other donations 3. CHARITABLE ACTIVITIES COSTS |
2021 £ 50,000 25,000 30,453 105,453 |
2020 |
|---|---|---|
| £ | ||
| 81,947 - 1,308 83,255 |
||
| Governance Cost Support Cost Noon Memorial Hospital 4. GRANTS PAYABLE Noon Memorial Hospital |
Grant funding of activities (see note 4) £ - - 260,000 260,000 |
Support costs (see note 5) £ 1,200 113 - 1,313 2021 £ 260,000 |
Totals £ 1,200 113 260,000 261,313 |
|---|---|---|---|
| 2020 | |||
| £ - |
5. SUPPORT COSTS
| SUPPORT COSTS | |||
|---|---|---|---|
| Governance | |||
| Finance | costs | Totals | |
| £ | £ | £ | |
| Governance Cost | - | 1,200 | 1,200 |
| Support Cost | 113 | - | 113 |
| 113 | 1,200 | 1,313 |
continued...
Page 9
THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
5. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:
| Support costs, included in the above, are as follows: | |||||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| Governance | Support | Total | Total | ||
| Cost | Cost | activities | activities | ||
| £ | £ | £ | £ | ||
| Foreign currency conversion loss | - | - | - | 9,298 | |
| Bank charges | - | 113 | 113 | 2 | |
| Overprovision of accountancy | - | - | - | (580) | |
| Accountancy | 1,200 | - | 1,200 | 1,200 | |
| 1,200 | 113 | 1,313 | 9,920 | ||
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 1,308 EXPENDITURE ON Charitable activities Governance Cost 620 Support Cost 2 Total 622 NET INCOME 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 |
Total funds £ 83,255 |
|---|---|---|
| 620 | ||
| 9,300 | ||
| 9,920 | ||
| 73,335 | ||
| 302,522 | ||
| 375,857 | ||
continued...
Page 10
THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
| 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 10. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Noon Memorial Hospital Uniiversity of East London--Noon Centre TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Noon Memorial Hospital TOTAL FUNDS |
At 1.1.21 £ 6,548 368,309 1,000 369,309 375,857 Incoming resources £ - 116,818 116,818 |
2021 2020 £ £ 10,027 7,417 2021 2020 £ £ 2,400 1,200 Net movement At in funds 31.12.21 £ £ (1,200) 5,348 (143,295) 225,014 - 1,000 (143,295) 226,014 (144,495) 231,362 Resources Movement expended in funds £ £ (1,200) (1,200) (260,113) (143,295) (261,313) (144,495) |
|||
|---|---|---|---|---|---|
| 2020 £ |
|||||
| 7,417 | |||||
| 2020 £ |
|||||
| 1,200 | |||||
continued...
Page 11
THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
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 Comparative net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Noon Memorial Hospital TOTAL FUNDS |
At 1.1.20 £ 5,862 295,660 1,000 296,660 302,522 Incoming resources £ 1,308 81,947 83,255 |
Net movement At in funds 31.12.20 £ £ 686 6,548 72,649 368,309 - 1,000 72,649 369,309 73,335 375,857 Resources Movement expended in funds £ £ (622) 686 (9,298) 72,649 (9,920) 73,335 |
At 31.12.20 £ 6,548 368,309 1,000 |
At 31.12.20 £ 6,548 368,309 1,000 |
|---|---|---|---|---|
| 369,309 | ||||
| 375,857 | ||||
| 73,335 |
continued...
Page 12
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
THE NOON MEMORIAL LEGACY TRUST (FORMERLY NOON FOUNDATION)
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 1.1.20 £ 5,862 295,660 1,000 296,660 302,522 |
Net movement in funds £ (514) (70,646) - (70,646) (71,160) |
At 31.12.21 £ 5,348 225,014 1,000 |
|---|---|---|---|
| 226,014 | |||
| 231,362 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Noon Memorial Hospital TOTAL FUNDS |
Incoming resources £ 1,308 198,765 200,073 |
Resources Movement expended in funds £ £ (1,822) (514) (269,411) (70,646) (271,233) (71,160) |
Resources Movement expended in funds £ £ (1,822) (514) (269,411) (70,646) (271,233) (71,160) |
|---|---|---|---|
| (71,160) |
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 £260,000 ( 2020: Nil) 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 2021
| INCOME AND ENDOWMENTS Donations and legacies Kerry Group Suterwalla brothers Other donations Other income Foreign currency conversion gain 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 (expenditure)/income |
2021 £ 50,000 25,000 30,453 105,453 11,365 116,818 260,000 - 113 - 1,200 1,200 261,313 (144,495) |
2020 £ 81,947 - 1,308 83,255 - 83,255 - 9,298 2 (580) 1,200 620 9,920 73,335 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 14