Cb4rity' registration number 1063835 (England and Wales) Company registration number 03398543 THE HANOON FOUNDATION ANNUAL REPORT AND UNAUDrrED FllYANCL4L STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE HAN00Tr4 Fouf4DATION LEGALAND ADm[NISTRATIN INFORMATiof4 Trustees DrAbmed Massoud Mr Khaled Dawas Dr L Nashef DrAAwwad DrA Misbahuddin Mrs Y Tabbakh Ms E Simon MrNJRCbia Mr R Niven A Doust F Abdulhadi MrA Sallcetta MSAlam (Appointed l Aprfftl 2025) (Appointed l April 2025) (Appointed l April 2025) (Appointed l April 2025) Secretary Mrs S Nather Cbarity number (England and Wales) 1063835 Company number 03398543 Registered office 86-90 Paul Street London EC2A4NE Independent examiner 3rd Floor Chancery House St Nicholas Way Sutton Surrey SMI IJB
THE HANOOIY FOUNDATION coNrENrs Page Truslees, report Independelll examinerfs report Statement olfinancial activities Balallce sheet Notes to the fjnancial statements 10-16
THE HANOON FoufiDATE0Tr4 TRUSTEES, TRUSTEES REPORT IINCLUDIP4G DIREcfoRS' REPORD FOR THE YEAR ELYDED 31 DECEMBER 2024 The trustees present their report and fmancial statements for the year ended 31 December 2024. The accounts have been prepared in accordance with Ihe accounling poli¢i¢s set out in note I to the accounts and comply with the charity's Articles of Association, Ihc Companies Act 2006 and "A¢¢ounting and Reporttng by Charities.. StalemetLt of Recommellded Practice applicable to charities preparing their accounts in accordance with tELe Finatlcial Reporting Standard applicable itL ttLe UK and Republic of Ireland (FRS 102)" (as amended for accoutLIÉDg periods comtuencing from I January 2016) Legal and Administrative Information The organisation changed ils name lo The Hanoon Foundation on 5th August 2024 and this cbange was approved by the ClrIty Commission, Companies House and formally adopted at the September 2024 AGM. This report covers the period from 1st January to 3 1st December 2024, during wEll"ch the organisalion operalcd as the Al-Quds Foundation for Medical Schools in Palestine IFQMS) for the first sevell months and as The Hanooll Foundation (THF) for the remainder of the year. Objectives and activities The Foundalion forAI-Quds University Medical School (FQMS) w&$ Incoorated on 3Tr1 July 1997 as a comp&ny limited by guarantee No 3398543. FQMS received registrdtion of it charitable status from the Charity ComtDi5sioner5 on 7th August 1997 with the r¢gistered charity nurnber 1063835. The trnslees have paid due regard to guidance issued by the Cftwity Colljmissioll in deciding what activities the chlty should undertake. This report covers the period b¢eell Isl January and 3111 December 2024. The 27th A[Ual General Meeling (AGM) of the organisatlOD w&s held online on 26th September 2024. Mr Khaled Dawas chaired the meeting. The remaining Trustees during the rew)rting period were Dr Abmed Massoud (Vice Chair), Dr Raa Clwif, Dr Awwad Awryvad. Dr Lina Nashef. Dr MisbalLuddin (Vlce Chair), Ms Electra SIMO Mr Naseer Chia, Mr Bob Niven and Dr Yasmin Tabbakh. Leadership Transition and Trustee Recruitment Mr Khaled Dawas stepped down as Chair after eight years. His leadership has shaped THF'S worL and we are pleased that he will ren]aiD actively involved as Vice Chair. Dr Ahtned Massoud has been sele¢ted Chair. effective 1st January 2025. His leadership will guide IILe next stage of THF'S growt butlding on past achievements while exploring new slralegies and ¢xpanding networks. At the end of 2024, the organisalioll also began a recruitment process to appoint new tNstees following the resignation of two Board ttLembers in 2023. This aims to strengthen governance by bringing in people with a broader range of skills, experience and backwunds. Tru5tees' Meeting5". The Trustees mel regularly, both virtually and ID perso on the following dates: 14th January 2024 (online) 25th Febrnary 2024 (hybrid) 24th May 2024 {Olllin¢} 9th June 2024 (hybrid) 29th August 2024 (online) Between meetillgs, business was ¢onducled via email atth subcommittee meetings. with project leadership as follows: Professional Development FuDding Conference and Courses: Ahmed Massoud and Khaled Dawas Governance and Strategy: Khaled Dawas. Bob Niven and Naseer Chia Postgraduate Trailling Programme: Lina Nashef. Khaled Dawas and Naseer Cbia Undergraduate Scholarship Programme including coordination with Partners (The Madrinha Trust and International Arab Charity - IAC): Kbaled Dawas, Rawya Charif and Anjum Misbah¥Jddin. Social media. Design and rebranding: Electrn Sitnon, Yasmill Tabb8kb, Allmed Massoud and Khaled Daw8S FundraisiDg and Social Events: Chatred by Anjum Misbabuddiffj supported by Electra Simon, Rawya Charif, Lina Nashef, Khaled Dawas, Ahmed Massoud and Bob Niven.
THE HANOON Fouf4DATION TRUSTEES, TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR Ef4DED 31 DECEMBER 2024 Events & Conferences T&e organisalion held three major events that strellgthened eottllnuniry engagement and rdi5ed funds for medical education: 28 Januarv - Fundraising Lunch. Maroush Park Royal. Over 220 guests attended Ibe event, with keynote speeches from Dr Ghassan Abu Sitta and Professor Nick Maynard, as well as talks from Palestinian medics who had worked and served ID Gaza. Live musical perfornL2nces were given by Ms Sburooq Abu Nas, Maestro Pierre Khawam, Nfr Aboud Harb and Mr Salah Khalil. The eveDt also feat[ed an art auction generously donated by Mr5 Rose 15sa, a raffle and a sales table with ilems kindly donated by our supporters - Chachoulie, ELSA Boutique and EaslemAdornrllenl- all of which contributed lo increased fvndraisillg income. 23 March - Iftar at Maroush. St John's W¢M)d. Approximately 50 supporters gaihered sn solidarity during Ihe holy month of Ramadan. Powerful talks were delivered by Palestitjian Ambassadoi Dr Husam Zomlot and Mr Khaled Dawas. A sales table feathred Palestinian organic dates kindly donated by Yaffa. Hebron cerdmic plates donated by ar.rih.la and the book Ten Days ill Gaza, generously donaied by Mrs Dalia Rishani. 22 September- Lunch at Bursa RestauranL Marble Arch. This first evelli under the organi5ation's new name marked the rebralldmg and highligbied ils mission and priorities through iDspiring tslks and live music. We bonoured the memory of every life lost in Palestine and reaffinned our commitment to rebuilding medical schools and empoweiing students to serve their Communities. Palestiniall Ambassador Dr Husam Zomlot and Mr Khaled Dawas delivered insigbiful speeches, while Dr TaD]er El-Nakhal and Dr Othman El-Agha, both from Gaza, shared personal experiences and spoke about the needs and aspirations of medical students. The event was further enriched by a live guitar perfonnance by Mr Thomas Hodgkinson and a sales table. Supporter-Led Fulldraisers. In addition to the main events organised by THF, our dedicated supporters held fundraising activities throughout the year. These included community events. sponsored Challenges, awareness campaigns, film screenitlgs, musical concerts, birthday fundraRsers and the sale of cerdmic tokens. Their efforts not only raised vital funds but also helped lo increase awareness of the oalsa110's work and expand its network and base of supporters. We are deeply grate1 for their commitment and generosity, which significanily contribuied to the organisatioll's overall income and irrLpacl. CoDferen¢es. The organisation participated in s¢eral non-fijndraising events foeused on raising awareness ai)out healiheare and medical education in PalestiDe. Conferences were held al University College London (UCL), Oxford Untversity and ornltne in collabordlion with matLy partners. including the Medical Schi>ols Gaza Solidarity Group, Pa]Med Academy and Health Workers for Palesline. These events provided updates on the situation on Ihe ground, highlighted ongoing eIllengeS and strengthened engagement with the wider medical and academic community. Regular contact with parer5 atLd beneficiaries was ti]ntained thtougb phone Calls. messages and etllails. The Tntslee5 are confident that the charity's futLds atLd projects have been disbursed as expected and in good faith. Financial governance remained stiingent and transparent. Site Visit- Medical Mission. Mr Khaled Daw&s undertk two emergency medical missions to Gaza in January and April. volunteering at Al-Aqsa Hospital with teams from partner oanisatIon Medical Aid for Pale51inialls (NL4P). During his visits, Mr Dawas also mel with spollsored students and assessed the qUlty of clinical trainiug amid the ongoing war. His obseall0S have infomied the organisation's strdtegic planning and response. Impact of the War. The ongoing war througbout 2024 severely disrupted medical education in Palestine. Medical schools in Gaza sustained extensive damage. while hospitals and clknical trdining centres became largely non-operdtional. Many medical studellls were displaced" clinical training was halted and many students found theD]selves stranded outside Gaza- ullable to return hoD]e or colllinue their stttdies withoul urgent support. In response. the orgauisalion redirected part of its runding towards emergency and targeted grdnts. These grants helped cover academic. trnining and related expenses for displaced students, those stranded abroad, volunteer students working in overstretched hospitals, and tytors who continued teaching under extremely difficult conditions. Following the closure of Gaza's borders in April 2024, project delivery became illcreasingly challenging. and support requests rose shaly. The organisation adapted by collaborating closely with tnled partners to ensure students ¢ould still &e$S the &ssistance they n¢ed¢d.
THE IL4P400P4 FOUNDATION TRUSTEES, TRUSTEES REPORT (If4CLUDING DIREcfoRS' REPORT) (CONTDIUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Programme5 Projects included support for undergraduate and postgrdduate trainin& with adaptations to accommodate new projects arising from the war, as detailed below. The postgraduate training programme, in collabotalion with Juzoor and supported by the Arab Fund for Economie and Social Development, continues to excel alld receives commendation from sellior PalestiDian trainees. To date, 19 doctors have benefited. with 17 already rettmled to Palestine to contribute to healthcare. Tbe organisation also supported two trainee doctors. one undertaking an Msc in Fetsl Medicine at University College London Hospitals (UCLH) and the other an Msc in Iljblic Health at Sheffield Hallam University, by covering their university fees. They are expected lo return lo Palestine upon completing their studies and submitting their theses. Hospltal and Clinic Volunteering Support. THF assi51ed more tlwi I,(M)O medical students volunteering in hospitals during the ongoiug war. Students in years 4 to 6 dedicated significant lime supporting departments such as wound care. emergency medicine and intensive care. They gained vital clinical experience and helped overstretched hospitals during this critical period. Tutor5 Support. THF akn played an important role in supporting medical education by providing partial salary assistsllce 10 77 tutors from the medical scbools. This support was essential in enabling these trainers to continue teaching despite the challengittg fllLancial and operational conditions. Support for Stranded Students and those Studving Outside Gaza. THF provided fmaThcial assistance lo studen(s unable lo return home due to the ongoing war, coverin(y vital living and educational expenses. The organisation also suptK)rted medical students enrolled al vniversities outside Gaza. enswing the continuation of their sts]dies despite difficult circumstances. Durillg the year. 151 stranded Sdellts from Al-A7thar University and the WG received 5UPPOrt, alongside 44 medical students-mainly studying Egypt-who were assisted with living costs. Graduate Debt Relief. THF helped I I graduates from Al-Azl)ar University and the tUG by settling their outstanding university debts, enabling them to obtain their certifEeales alld advance their medi¢al careers. The progrdmme played a vital role in removing fmaneial barriers, particularly during the ongoing waT. which has exacerbated economic hardships for students. Beneficiaries were selected based on academic merit and financial Deed. ering that support reached those most deserving. Medical Elective5 Unternational Placement). THF supported elective placements for I I medical students from Al-Azhar University, the tUG and An-Najah University. Some participated in the Oxford University sutnrner school orgauised by OxPal , enriching their clinical and academic experience. These oprtunItieS enhallced their medical knowledge. practical skills, and exposure to divetse inlernational hedlthcare setting<5Sen1Lal preparntion for their medical careus amid ongoing challenges. Undergraduate Scholarships. THF continued adminislering the Madrinha Tntst Scholarships, extendillg full fee sponsorship lo two additional students from the West Bank. 14 Gaza-based medical students grdduales were granted the 2024 Heroism Award, in recogllition of their extraordinary resilience alld commitment to their medical education under exceptiottal baTdsbip. THF also continued its partnership with the IAC, whtch beg in 2023 and has sinee supported one medical student from An-Najah National University with a five-year scholarship. BursarKes {Student Financial Aid). 30 talented medical students from An-Najab University and Al-Quds University. selected for both strong academic perf0m}ce and significant fmancial need. received assistance covering part of iheir tuition f¢¢s and related ethjcational costs. This support helped reduce their fllwicial burde allowing them to continue their medical education with greater focus. Teaching Fellowship Programme. Established in 2020. this initiative continued its support of teaching positions at Palestinian universities throughout 2024. Two fellows from ihe IUG were apw)inted to coorditLate the university's efforts outside Gazi supporting tUG students Studying abroad. liaising with their host universities and pmvidtng online leaching to eDsure academic contilluity.
THE HANOON FOUNDATION TRUSTEES, TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 PLAB 2 & Clinical Attachments. 8 junior doctors received support to cover costs associated witb the PLAB 2 examination or their clinical attaclunents in UK hospitals. This assislance enabled them to advance their careets and gain new skills and ¢xperienc¢ despite the ditTiculties caused by the ongoing war in their home cowitry. Language Support. 12 junior doctors received fmancial assistance lo cover fees for language proficiency exatns, ineluding the Occupational English Tesi (OED Inlernaliollal English Language Testing System (IELTS). These exams are required by medical eoulleils and training institutions abroad to Verify English language competency. Th¢ support helped doctors meet these requirements, enabling them to pursue advanced tsainiDg aDd piofessioDal eertificatioll. Professional development. THF supported medical sthdents and doctors in advancing their careers by sponsoring opportunities such as attending international conferences and engaging in professional development activities. These nitiatives have conlributed lo strengthening Palestinian medical research capacity and assisting doctors in progressing within the&r medical careers. Medical equipment. THF ¢nhan¢ed medi¢al education at An-Najah University by providing cutting-edge virtual reality (VR) training tools. This innovative support enabled students to engage in immersive, hands-on leamitig, sigDificantly itnproving clinical skills development and better Preparing them for their medical careers. Risk Management. The Risk Subcoll)n]ittee, led by Mr Bob Nive regularly revieivs the risk register and reports to the Board. Risk is a standing agenda item and receives parti¢ular attenlion due to the organisatioll's work supporting projects iry conflict-affected areas. Recent escalations and iensions in the West Bank and Gaza have heightened risks and impacted the organisation's progrdtDmes. These issues are detailed in the register. which is continuously updated. Tributes and Condolences We were deeply saddened by the passing of our Patro Mr Fuad Hadad, in 2024. He served as a trnstee of the organisation for many years and was widely respected for his wisdom, kxndness and steadfasl commitmetLI lo Palestine. As a scholar of Arabic culttwe and latLguage. his warn]th and generosity left a lasting impression on all who knew him. May his soul iesl in peace, and may hts legacy continue lo inspire us. On behalf of the Trustees. we extend our sin¢ere condolences to his family. We also express our condolences to Mrs Amanda Gordon on the loss of ber l&te father, Mr William Crdwford, a long- standing and loyal supporter of the organisation. We were honoured to receive his legacy, which reflects his enduring commitment lo our missioKL and has significantly contributed lo our worL Our sincere thaDks go to the Crawford family for their generosity. Acknowledgements and Partllerships For the preparation of the accounts, the Trustees express their sincere thanks to the Operations Manager, Mrs Shereen Nather, and Treasurer, Mr Ziad Dawas, for all their effo. THF extends heartfelt support to the Deans of the medical schools for their ongoing leadership during the dijficult circumstances ¢aus¢d by th¢ war. We also recognise tbe resilience and commilmenl of Medic students and grdduates who have continued their studies and work despite significant challenges. We extend condolences to the families of those doetors, professors and students who have been killed and hope for the prompt release of detained healthcare workels. Despite these ditFi¢ulties. medical professionals and strjdents remain dedicated to supporting their communities. THF values ils partnerships with Juzoor, the MadriDha Tmst, the IAC. the Asfari Foundation, the Bryan Guinne5s Charitable Trust, the Galilee Foundation, Orange Tree Tn]sl and Yafa Foundaiiot). These collaborations enable THF to successfully implement a range of projects aitned al advanciug medical educatio thereby contributing to the development of healthcare in Palestitie. We express our sincere thaJ)ks to Mrs Dalia Rishani for ber generous support in publishing Ten Days in Ga7a through Hood Hood Books. The photo book sold successfully, with Mr5 Rtslwll killdly donating all proceeds to the organisation. The lauocb event was hosted at the home of Mrs Sawsan Asfari. who has also sUPPOrted the organisation i])rough her charities. the Galile¢ Foundation and the Asfari Foundalion. The b(KJk feareS photogrnphs taken in 2010 by Giuseppe Aquili, Anthony Dawton and Jim MeFarlalle. capturing life in Gaza, alongside digital artworks by the Eraqi artist Mr Dia al-Azzawi. The foreword was written by Mr Khaled Dawas.
THE HAN00Tr4 FOUNDATION TRUSTEES, TRUSTEES REPORT (INCLUDING DIREcfoRS' REPORD (CONTINUED) FOR THE YEAR ETrIDED 31 DECEMBER 2024 We are gratefvl to all our supporters whose name5 not be mentioned in this report. Their geTherosity-whether through rinancial donations, conttibutions of artwork, volunteering their time and skills. or organising fi]ndraising canpaigns-has been invaluable. The Trustees sincerely iballk all our supporters for their loyalty aud comn)itmenL without which much of the orgatLisation's work would not be possible. THF and ils Tn]stees rematn firmly committed lo enhancing the organisation's expertise and seryices. with the shared goal of advancing medical education. We continue to work closely with partners who Share our vision of building strong medical education systems and nurturing fvture healthcare leaders ill Palestine. Dr. Ahmed Massoud Chairman of Twstees. THF Date= 25 Seplernber 2025 l OxPal.. Oxford Palestine Society, a sttjdent-led organisatiojj at the Untversity of Oxford dedicated to supporting Palestinian medical Sdellts througb educational initiatives and clinical training opportUDities. 2 PLAB 2.. The Professional and Linguistic Assessments Board Part 2 is a practical clini¢al examinalion for international medical graduates s¢eking to prdctise medicine in the UL It assesses clinical skills and competence in a simulated clini1 envirOnent.
THE HANOON FoifNDATION TRUSTEES, TRUSTEES REPORT (INCLUDif4G DIRECTORS, REPORT) (CONTtNUED) FOR THE YEAR EP4DED 31 DECEMBER 2024 Financial reiTrew It is THF'S policy to ensure that unrestricted fi]nds are mainlained V¢t a level sufficient to cover at least one year of overheads. actlVLties and projects. especially with the ongoitlg diLCUltIeS in traDsferrit)g funds to Palestine. Al the same time, THF is commilled lo the rapid use of its clmritable fid$ for agreed pmjects and to maintaining reserves at the lowest pra¢tical level. The recent increase in reserves reflects both the timing of income receipt and the tntee$, illtelllion to expand the charity's support. ID the coming year. THF will be increasing fUndIg for severdl projects and eonsiderillg new key initiatives. The trnstees regularly review the reserves policy to ensure it is appropriate for the chartty's needs. The tNstees have also assessed the major risks lo which the clwity is exposed. aDd are satisfied that systems are in place to mitigate exposure to them. Structure* governance and management The charity is controlled by ils governing document. a deed of tnlst. and coDstitules a limited company. limited by guaranlee. as defllLed by the Companies Act 2006. The trnslees, who are also the directors for the PUEpose of company law. and who served during the year and up to the dale ofsignature of the fmancial statements were: DrAhmed Massoud Mr Khaled Dawas Dr L Nashef Dr R Charif Dr AAwwad Dr A Misbabuddin Mrs Y Tabbakb Ms E Simon MrNJRChia Mr R Niven ADoust F Abdulhadi Mr A Saiicetta MSAlam (Resigtled 3 July 2025) (Appoinied l April 2025) (Appoinied l April 2025) (Appoinied l Aprit 2025) (Appointed l April 2025) Approved by order of the board of trnsttts and siglled on its behalf by: Dr Ahmed Massoud Tn]stee Dated.. 25 September 2025
THE HANOON FOUNDATION INDEPENDENT EXAMINER'S REPORT TO TIIE TRUSTEES OF'fiiE HANOON FOUNDATION I report to the trustees on my examination of the financial statements of The Hanoon Foundation (the charity) for the year ended 31 December 2024. Responsibilities and bssis of report As the trustees of the charity land also its directors for the purwises of company law), you are responsible for the preparation of the finan¢ial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the finaneial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respe¢t of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011. In carying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011. Indepelldellt examiner's statemellt Since the charity's gross income exceeded £250,000, the independent examiner rnust be a member of a body listed in section 145 of the Charities Act 2011. I confim] that l am qualified to undertake the examination because l am a member of ICAEW, which is one of the listed bodies. I have completed my examination. I confimi that no 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 charity as required by section 386 of the Companies Act 2006. the financial statements do not accord with those records- or the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view. which is not a matter considered as part of an independent examination- or the financial slalements have not been prepared in 2CCOTdanee with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102). 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 financial statements to be reached. Graha Arrinia 3rd Floor Chancery House St Nicholas Way Sutton Surrey SMI IJB 26 September 2025 peck ACA
THE HANOOIY FOUNDATION STATEMENT OF FINANCIALACTIVtTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR Ef+lDED 31 DECEMBER 2024 Unrestricted nds Restricted fund5 2024 Total Unrestricted Restricted funds runds 2023 2023 Total 2024 2024 2023 Notes Income from: Donations and legacies Investments 571,782 29,468 179.301 751,083 29,468 179.999 21.170 138.139 318,138 21,170 Total income 601.250 179.301 780.551 201.169 138.139 339,308 Expenditure on: Raising fimds CIMritable activities 73.639 130287 73.639 366.451 164,601 74,152 164,601 222,523 236,164 148.371 Total expenditure 203.926 236.164 440,090 238.753 148.371 387,124 r4et incomel{expenditure) and movement in funds 397,324 (56.863) 340,461 (37.584) (10.232) (47.816) Reconciliation of funds: Fund balances at l Jat)uary 2024 218,244 398,731 616,975 255.828 408,963 664,791 Fund balance5 at 31 December 2024 615.568 341.868 957,436 218,244 398.731 616,975 The slalernent of fmancial activities includes all gains and losse5 recogDised in the year. All income and expenditure derive from continuing activities.
THE HANOON FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Fixed a55ets Tangible assets 327 979 Current assets Debtors Cash al bank and in hand io 23,838 935,987 52,605 575,083 959.825 627,688 Creditors: amounts falling due Tvithin one year li (2.716) {11,692) Net current a55ets 957,109 615.996 Total assets le55 currellt liabilities 957,436 616.975 The fund5 of the charity Restricted illcome fv&ds Unrestricted funds 12 13 341,868 615.568 398,731 218,244 957.436 616,975 The company is entitled lo the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the y¢ar ended 31 December 2024. The directors acknowledge their responsibilities for complying with the requirements of the CompteS Aci 2IXI6 witb respect to a¢coullling records and the preparation of faCIaL statements. The members have nol required the company to obtain audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small compantes regime. The financial statements were approved by the trustees on 25 September 2025 DrAhrned Massoud Trustee Company registration number 03398543 (England and Wales)
THE HANOON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity information The Hanoon Foundalion is a private company limiled by guaralllee inCOqK>fdled in England and Wales. The registered oifice is 86-90 Paul Street. London. EC2A 4NE. 1.1 Basis of preparation The accounts have been prepared in accordan¢e with the chariiys Articles of Associatio the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recon)rnended Praclice applicable to charities preparitlg their accounts in accordance with the FI[icial Reporting Standard applicable in ihe UK and Republic of Ireland {FRS 102)" (as amended for accounting periods commencing from l January 2016). The clwity is a Public Benefit Entity as defjned byFRS 102. The charity has taken advalllage of the provisiolls in the SORP for charities applying FRS 102 Update BullelitL I not lo prepare a Statement of Cash Flows. The fmancial statemenls are prepared in slerling, which is the functional currency of the charity. Monetary amounts in these fmancial statements are rounded to the nearest £. The fllwicial statements have been prepared under the historical cost eollvelltio The principal accounting policies adopted are set out below. 1.2 Going concern Al the lie of approving the fjnancial ststements, the trustees have a reasonable expectstion that the charity has adequate resour¢es lo continue in operational existence for the foreseeable future. Thus the trustees continue lo adopt the going ¢ollcern basis of accounting ITh prepaTing the financial statements. 1.3 Charitable funds Unrestricted ndS are available for use at the discretion of the tteeS in furtherance of their charitable objectives. Restrieted funds are subject to specifIc conditions by donors or grdnlors as to how they may b¢ used. The purposes and uses of the restricted fimds are set out in the notes to the flnancial statements. 1.4 Income Income is recognised when the ¢harity is legally entitled lo it after aDy perfornwice conditions have been meL the amounts ¢an be measured reliably. and it is probable that illcome will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless perforn]ance conditions require deferrdl of the amount. Income tsx recoverable in relation to donations received unde¥ Gift Aid or deeds of covenant is recogllised al the time of the donation. 1.5 Expenditsre Expenditure is accounted for on an accruals basis and ]w been classified under headigS that aggregate aLI cost related lo th¢ category. Where costs cannol be directly attributed to particular headings they have been allo¢ated to &ctlVLties on a basis consislent wlth the use of resources. Grants offered subject to conditions which have not been met ai the year end date are noted as a commitment but not a¢crned as expenditure. 1.6 Tangible fixed assets Tangible red assets initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment1055es. 10-
THE HANOON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTIfwED) FOR THE YEAR ETr4DED 31 DECEMBER 2024 Accounting policies (Continued) Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. IT Equipment 25fjA straigbt line 1.7 Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to deterniine whether there is any indication that those assets have suffered an impainneni loss. If any such illdication exists, the recovernbl¢ amount of the asset is estimated ID order lo deterniine the extent of the impairment loss (if any). 1.8 Cash and cash equivalents Cash and cash equivalen15 include cash in hand deposits held at call with banks, other short-term liquid investments wilh original ll]alurilies of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabiLilies. 1.9 Financial instruments The clwity bas elected to apply the provi5ioDs of Section 11 'Basi¢ Financial Instruments. and Section 12 '0ther Financial Inslrnmettts Issues, of FRS 102 to all of its fmancial instrnments. Financtal instruments are Tecogllised in the charitys balance sheet when the charity becomes paty to the contractual provisions of the instn]ment. Financial assets and liabilities are offset, with the net amounts presented in the financial Stateents, when Ihere is a legally enforeeable right to set off the recognised amounts and there is an intention to settle on a net basis or to reise the asset and settle the liabitity slmultaneously. Basicfiiianeial ossels Basi¢ fJnan¢ial assets, whkch include debtors and cash and bank balances, are initially measured al trallsaclioll price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement constitutes a fmancing transaction, where the transaction 15 measured at the present value of the fi]ture receipts discounted at a tnarkel rate of interest. Financial assets classified as receivable within one year are not amortised. Ba5icfiNaneial liabiliti Basic fllwicial liabililies, including creditors and bank loans are initially recOlsed at transaction price unless the arrangetneTht constitutes a fmancing irallsaction, where the debt instnllnent is measured al tbe present value of the tUre payments discounted at a tnarkel rdte of interesl. Financial liabilities classified as payable within one year are not amorttsed. Trade ereditOTS are obligations to pay for goods or services thal bave been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as llon-cuThelll liabilities. Trade Creditors are recognised initially at Irausaelioll price and subsequently measured at amortised cost using the effective interest method. DÉrect7gnitioii offinancial litybilities Fiuancial liabilities ore derecognised when the clwity's COlltrnCal obligalions expire or are discharged or cancelled. 1.10 Employee benefits The Cost of any unused holiday elltitlement is recogllised in the period in which the employee's services are received. Ternillation benefits are r¢wgnised immediately as an expellse when the charity is demonstrably Committed to tenninate the employm¢nt of an employee or to provide termination beDefits. 1.11 Retirement benefits Payments to defed contribution retirement benefit schemes are charged as all expellse as they fall due. 11
THE HANOON FOUNDATiof4 NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR Ef4DED 31 DECEMBER 2024 Income from donations and legacie5 Unrestricted funds 2024 Restricted funds 2024 Total Ullreslricted Restricted funds funds 2023 2023 Total 2024 2023 Dottations and gifts 571,782 179.301 751,083 179,999 138,139 318,138 Income from tnvestments Unrestricted Ullrestricted funds funds 2024 2023 Interest receivable 29,468 21,170 Expenditure on raising funds Unrestricted Unrestricted funds funds 2024 2023 Fundraising and publicity Admit] Expenses Accountancy Bank charges Exchallge rale difference Bad debi write off Other fulldraising costs Staff cos15 Depreciation 4,941 3,120 151 191 1,034 19,800 43,750 652 6,691 3,280 226 1,698 75,000 33,227 43,827 652 73,639 164,601 Illcluded above Ès a £1,034 (2023.. £75,0) bad debt write off. 12-
THE HANOON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR TEIE YEAR ENDED 31 DECEMBER 2024 Expenditure on tharitable aCtitieS Charitsble aCtitieS 2024 Charitable activities 2023 Direct costs Support costs for studenls 366,451 222,523 Analy515 by fund Unrestricted funds Restricted funds L30.287 236.164 74.152 148,371 366.451 222,523 Trustees None of the trnstees {or any persons connected with them) received any remunerntion or benefits from the charity during the year. Employees The average monthly number of employees during the year wa5". 2024 2023 Number Number Emplo)Trent Costs 2024 2023 Wages and salaries Other pension costs 43.750 43,615 212 43,750 43,827 There were no employees whose antkual remuneration was more than £60,(M)O. T4x2tion The c&Ity is exempt from laxation on its activities because all ilg income is applied for clwitable purposes. 13-
THE HANOON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Tangible red assets tr Equlpmetst Cost At l January 2024 2,609 At 31 Dec¢mber 2024 2,609 Depreciation and impainnent At l January 2024 Depreciation charged in the year 1,630 652 At 31 December 2024 2282 Carryillg amount At 31 December 2024 327 At 3 l December 2023 979 IO Debtors 2024 2023 Amounts falling due within one year: Trade debtors OdLer debtors 3200 20,638 31.559 21,046 23,838 52.605 li Creditors: amounts falling due within ODe year 2024 2023 Other taxation and social Security Other creditors Aecn]als and deferred income 2,465 (275) 2.991 9,227 2.716 11.692 14-
THE HANOON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Restricted funds The restricted funds of the charity comprise the ullexpended balances of donations and grants held on trnst subject to specific conditions by donors as to how they ll]ay be used. At l January 2024 Incoming resources ResourcesAt 31 December expended 2024 Rounding Difference IELTS Training Dr Poole Legacy Post Graduate Trdining Programme Medical Equipment Gaza Appeal Bursaries Teaching Fellows Sponsored Students Galilee Foulldalion Inji Jeniu Catnpaign Students SdYIng Outside Gaza {2) (3,518} (24,287) {2) 5.595 207,546 81,622 9,113 231.833 81.622 5,000 26,616 10,440 3,468 56,265 75,IKM) (5,000) (26,616) {10,440) (3,468) {81.835) (75.000) 31,804 6.234 40.500 1.659 2.200 40.500 147 2.365 (1.806) (4,192) 373 398.731 179.301 (236,164) 341,868 PreTrious year: At l January 2023 lllcoming reSoue$ ResourcesAt 31 December expended 2023 IELTS Training Dr Poole Legaey Post Graduate Training Progrdmme Electives Gaza Transport Progrdmme Sponsored Sttjdents Inji Teaching Fellowships Gaza Bursaries G8za Appeal Jenin Campaign Students Studying Outside Gaza 9.113 2¢M,833 111.419 9.113 231,833 81,622 (13.000) (29,797} (7,500} (io,000} (38,107) 7.500 5.473 21.5(M) 64.438 19.000 12.000 2,980 17,202 1,659 8.360 31,804 40,500 (12.000) (14.605) (17,202) 11,625 1,659 2.2(K) (6,160) 408.963 138.139 (148,371) 398,731 15-
THE HANOON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 Unrestricted funds Tbe unrestricted fidS of the charity comprise the unexpended balances of donations and grants which are tLOt subject to specific conditions by donors and grantors as to how they may be used. These it]clude designated futkds which have been sel aside out of unrestricted funds by the Irustees for specific puSes. At l January 2024 Incoming resour¢es ResourcesAt 31 December expended 2024 General funds 218,244 601.250 (203.926) 615,568 Previous vear: At l January 2023 Illcomitig resources ResourcesAt 31 December expended 2023 General fimds 255,828 201,169 (238,753) 218,244 14 Related party transactions There were no disclos&ble related paty transactions during the year (2023 - none). 16-