Re8lstered Charlty Number: 1060417 THE SOCIETY FOR THE UNWELL AND NEEDY TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ASAD RAHIM & CO. CHARTERED CERTIFIED ACCOUNTANTS 8 PARK WAY EDGWARE MIDDLESEX HA8 5EZ
THE SOCIETY FOR THE UNWELL AND NEEDY FOR THE YEAR ENDED 31 OECEMBER 2024 CONTENTS PaBe Legal and Administrative Information Trustee5 Report 24 Independent Examlners, Report Statement of Financial Artivities Balance Sheet Notes to the Financlal Statements &ii
THE SOCIETY FOR THE UNWELL AND NEEDY LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2024 Charlty Reglstratlon Number 1060417 Address 3 Shortlands Hammersmith London W6 8DA Trustees Mr Saved Ahmed Tariq Mir Mrs Iram Malik Myford Mr Mlchael Myford Mr Muhammad Naeem Mrs Lubna Khan Mr Mohammad Khan (resigned on 03110/20241 (resigned on 03/10120241 (resigned on 15/10120241 Independent Examlner Asadur Rahim FCCA Asad Rahim & Co. Chartered Certified Accoutants 8 Park Way Edgware HA8 5EZ Bankers HSBC Bank PIC I St Peters Street Derby Derbyshire DEI 2AE Pa8e I
THE SOCIETY FOR THE UNWELL AND NEEDY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and financial statements for the year ended 31 December 2024 and confirm that they comply with the Charities Act 2011, the trust deed and the Charities SORP IFRS 1021. Governlng Document The Society for the Unwell and Needy is constituted as a charity and 8overned by a Trust Deed adopted on 24 September 1996, amended by supplimental deed on 13 January 1997. Alms and Objectlves The aims and objectives of the charity are: * To promote education through schools, colleges, Universities and vocational training programmes,. * To relief poverty and provision of aid to needy. * To provide general support including food to needv; To provide medical aid and medical supplies to the needy,, To provide financial assistance to destitute, needy and improverished widos and orphans. Structure of the Organlsatlon The charity's trustees are responsible for management of the charity. The trustees give their time freely and receive no remuneration or any other financial benefits. The trustees meet together as a body on a regular basis and are responsible for making decision in relation to running the organlsation effectively. The trustees have set up a managing committee for the smooth running of the charity and to maintain its day to day finances. The existlng trustees are responslble for appolntment of new trustees. The trust deed provldes for a minimum of three trustees. Future trustees shall be appointed by a resolution of the trustees passed at a special meeting. In selecting a trustee, the trustees shall take into account the benefits of appointing a person who through residence, occupation,m employment or otherwise has special knowledge of any areaof benefit or who is able to by virtue of his or her personal or professional qualification5 to make contribution to the pursuit of the objects or mana8ement of the charity. Rlsk Managernent The trustees have assessed the risks the charity faces and review these risks re8ularly at thelr meeting and confirm that systems are in place in order to mana8e these risks and necessary steps can be taken to manage the risks that have been identified. Achlevernents and Performance Public school, Llbrary and Unlversity The public library was established in 2007. It is designed to assist the students particularly with reference books and pxt@nsive computer facilities. It is very popular among students and continue to expand with the support of the local community, Page 2
THE SOCIETY FOR THE UNWELL AND NEEDY REPORT OF THE TRUSTEES {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 SUN Academy {schooll started to function in April 2010 with admission of 125 underprevileged children in KGI class. The aim of the school is to provide top class education at almost no cost basis. The school has been a great success. At the end of 2022 it has 1,100 students up to year Ten, who was promoted for matriculation in spring 2023. In a short period of nine years the Academy ranks among the top schools in the city. The school charged nominal fees for the first five years from all students but to cover the costs of increased numbers, it started to charge fees from paying students. At present 60% students still pay nominal fees and other 40% pays a compitable fee. The school receives overwhelming number of appllcations for admissions every year. The education standards are not compramised in any way. The trustees are satisfied with the progress of the school and one of the trustee spends considerable amount of time in the administration of the school on location. SUN IUKI planned a university during 2007 and 2010 with the guidance of Deans of UK Universities. The technical univrsity became functional with the intake of under-graduate students in 2013. The university is being run under the direction of Ministry of Education, Sindh Government and NHU University. First batch of matriculation students successfully passed the exam with I% success rate and 40% achieved A+ grades. SUN IU Kl intends to expand the charity's activities within the UK and to be able to do that they are actively looking for more trustees to carry out the work here. Publlc Beneflt The trustees conflrm that they have reffered to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's objectives and activities and in planning future activities. It is the judgement of the Trustees that activities in pursuit of the objectives fully meet the public benefit test, which they have kept in mind in planning programmes for the charitv. Flnanclal Review The financial statements are set out on pages 6 to 11 have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland Charities SORP IFR51021. Surplus / (Deficit) on Ordinary Activities Retained Reserve Brought Forward Retained Reserve Carried Fonvard 9,185 74,194 83,379 Page 3
THE SOCIETY FOR THE UNWELL AND NEEDY REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Responsibllities to the Financial Statements The chariws trustees are responsible for preparation of financial statements in accordance with applicable law to charities in England and Wales which gives true and fair view of the state of affairs of the charity during the financial year. In preparing the financial statements, the trustees are required to: * Select suitable accounting policy and the apply them consistently,. * follow the methods and principles in the Charities SORP; make judgments and estimates that are reasonable and prudent. * state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare financlal statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detectlon of fraud and other irre8ularities. Approved by the trustees and signed on their behalf by: Syed Ahmed Tarlq Mir FCA Chalr of Trustees Date: 28 July 2025 Page 4
THE SOCIETY FOR THE UNWELL AND NEEDY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES AND MEMBERS I report on the financial statements of The Society for the Unwell and Needy for the year ended 31 December 2024, which set out on pages 6 to 12. Respectlve Responslbllltles of Trustees and Examlner The charity's trustees are responsible for the preparation of the accounts. The charit¢s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the charities Act) and that an independent examination is needed. It is my responsibility to: examlne the accounts under section 145 of the Charities Act, to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145151{bl of the Charities Act, and to state whether particular matters have come to my attention. Basls on Independent Examlnerfs Statement My examination was carried out in accordance with general directions given by the Charity Commission. An examinatlon includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fairf view and the report is limited to those matters set out in the statement below. Independent Examlnerfs Statement In connection with my examination, no matter has come to my attention: l. Which gives me reasonable cause to belleve that In, any material respect, the requirements: to keep accounting records in accordance with section 130 of the Charities Act, and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Asadur Rahlm FCCA Asad Rahim & Co. Chartered Certified Accountants 8 Park Way Edgware HA8 5EZ 28 July 2025 Page 5
THE SOCIETY FOR THE UNWELL AND NEEDY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Funds Total Funds 2024 Total Funds 2023 Notes Incomlng Resources Donations Income from Investment Propertv 548 33,250 548 33,250 973 26,960 Total Incomlng Resources 33,798 33,798 27,933 Resources Expended Charitable Activities Governance Costs Other Resources Expended 10,650 12,205 1,758 10,650 12,205 1,758 3,200 17.900 10,949 24,613 24,613 32,049 Net Movements In Fund Total Funds Brought Forward 9,185 74,194 9,185 74,194 14,1161 78,310 Total Funds Carrled Forward 83,379 83.379 74,194 There were no recognised galns and lossess for the year other than stated in the statement of financial activities above. All incoming resources and resources expended derived from continuin8 activities. Page 6
THE SOCIETY FOR THE UNWELL AND NEEDY BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2024 Notes 2024 2023 Flxed Assets Tangible Assets Investment Property 720 246,228 1,320 246,228 246,948 247,548 Current Assets Debtors Cash at Bank 61,606 48.418 61,606 48,418 Credltors: amounts falllng due wlthln one year 137,430> 134,0271 Net Current Assets 24,176 14,391 Total Assets Less Current Llabllltles 271,124 261,939 Credltors: amounts falllng due after more than one year io 1187,7451 83,379 {187,7451 74,194 Net Assets The Charlrfs Fund Unrestricted General Funds li 83,379 74,194 Total Funds 83,379 74,194 Approved by the trustees and signed on their behalf by: Syed Ahmed Tariq Mlr Chair of Trustees 28July 2025 Page 7
THE SOCIETY FOR THE UNWELL AND NEEDY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting Pollcles 1.1 Basis of Accounting The financial statements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reports Standard applicable In the UK and Ireland Charities SORP {FRS 1021 Issued in July 2014 and the Financial Reporting Standard applicable in the United Kin8dom and Republic of Ireland {FRS 1021 and the Charities Act 2011. 1.2 Incomlng Resources All income is recognised in the statement of financial activities once the charity has access to the funds, it is probable that the Income received and the amount can be measured reliably. 1.3 Resources Expended Liabilities are reco8nised as soon as there is a legal or constructive obligation committing the charity to that expenditure. All expenditures are taken into consideration on an accruals basis and have been classified under appropriate headln8 In the statement of flnancial activitles. 1.4 Tangible Flxed Assets and Depreclatlon Tangible fixed assets are stated at cost less depreciation. Depreciation is provided to write off cost of the asset over its expected useful life. The following rates apply'.- Fixtures and Equipment 20% straight line 1.5 Flxed Asset Investments The fixed asset investment consist of investment property to earn rental income and capital appreciation. Fixed asset investments are Initially recorded at cost and subsequently stated at cost less any accumulated impairment lossess. 1.6 Flnanclal Instruments The charity only has financial assets and financial liabilities of a kind that qLJalify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measuredat their settlement value. 1.7 Tydxation The charity is exempt from tax on its charitable activities. Page 8
THE SOCIETY FOR THE UNWELL AND NEEDY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestrlrted Funds Total Funds 2024 Total Funds 2023 2. Ineome from Investment Property Rental Income 33,250 33,250 26,960 33,250 33,250 26,960 Unrestrlcted Funds Total Funds 2024 Total Funds 2023 3. Charitable Activities Donations 10,650 10,650 3,2iX) 10,650 10,650 3,200 Unrestricted Funds Total Funds 2024 Total Funds 2023 4. GovernYdn¢e Costs Rent Payable Repair5 and Maintenance Agent's Commission Independent Examinatlon Print, Postage and Stationery Loan Interest Bank Charges 1,281 2,629 2,004 1,200 232 4,694 165 1,281 2,629 2,004 1,200 232 4,694 165 1,281 8,010 2,513 I,2[) 42 4,694 160 12,205 12,205 17,900 Unrestrlcted Funds Total Funds 2024 Total Funds 2023 5. Other Resources Expended Le8al and Professional IT and Website Expenses Insurance General Expenses Depreciation on Fixtures & Equipment 9,300 1,077 81 600 1,077 81 600 1,049 600 1,758 1,758 10,949 Pa8e 9
THE SOCIETY FOR THE UNWELL AND NEEDY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 . 6. Tangible Fixed Assets Total Cost At l January 2024 3,000 3,0 Depreclatlon At l January 2024 Charge for Year 1,680 600 1,680 600 At 31 December 2024 2,280 2,280 Net Book Values At 31 December 2024 720 720 At 31 December 2023 1,320 1,320 7. Fixed Asset Inveslments - Investment Properties Total Cost At l January 2024 and 31 December 2024 246,228 246.228 8. Debtors 2024 2023 Prepayments 9. Creditors: Amounts falling due within one year 2024 2023 Trade Creditors Accruals 3,375 34,055 3,375 30,652 37,430 34,027 Page 10
THE SOCIEfY FOR THE UNWELL AND NEEDY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2024 10. Creditors: Amounts falling due after more than one year 2024 2023 Loan 187,745 187,745 The loan was received from MQM during 2009 to facilitate to acquire the property. It is a concessionary (social investmentl103n repayable in 2029 and the Interest charges at 2.5% fixed. 11. Unrestricted Funds 2024 2023 Balance Brought Forward Add.. Incoming Resources 74,194 33,798 78,310 27,933 107,992 (24,6131 106,243 132,0491 Less.. Out80ing Resources Total Unrestricted Funds 83,379 74,194 Page 11