REGISTERED CHARITY NUMBER: 1069509
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
FOR
THE TRS FOUNDATION
Mehta & Tengra
Chartered Accountants
9 Berners Place
London
W1T 3AD
THE TRS FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
|
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 TRS FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2022
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended
31December2022.ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewith 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 object of the charity is to promote such object as are now or may hereafter be deemed by law to be charitable.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The main charitable activities are:
1. Overseas/UK aid for advancement of education and health
The TRS Foundationcontributed£1,000to Learningfor Lifewhoseprimaryobjectiveis to assistSouth Asia`s
most marginalized population to gain access to education, health & employment.
2. Advancement of community development
TheTRSFoundationcontributed£5,000toIslamicReliefwhichpromotessustainableeconomic& social
development by working with local communities, regardless of race religion or gender.
The TRS Foundationcontributed£5000to The LadyFatemahCharitableTrustwhoseprimaryobjectiveis to
empower whole communities in the world's poorest places to transform their life chances.
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
Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandto ensure
appropriate controls are in place to provide reasonable assurance against fraud and error.
Thetrusteeshaveunrestrictedpowersofinvestingandtransposinginvestmentsinallrespectasifthey are
absolutely entitled to the trust fund beneficially.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1069509
Principal address
Southbridge way
Southall
Middlesex
UB2 4AX
Page 1
THE TRS FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
Trustees
F T Suterwalla
H T Suterwalla
M T Suterwalla
S T Suterwalla
I T Suterwalla
Independent Examiner
Perosha B Tengra
Chartered Accountant
Mehta & Tengra
Chartered Accountants
9 Berners Place
London
W1T 3AD
CHARITY COMMISSIONERS GUIDE ON PUBLIC BENEFIT
ThetrusteeshavepaiddueregardtothecharitycommissionersguidanceonPublicBenefitindeciding what
activities the charity should undertake.
Approved by order of the board of trustees on 13 March 2023 and signed on its behalf by:
F T Suterwalla - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE TRS FOUNDATION
Independent examiner's report to the trustees of The TRS Foundation
I report to the charitytrusteeson my examinationof the accountsof The TRS Foundation(the Trust) for the year
ended 31 December 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsiblefor the preparationof the accountsin accordancewith the
requirements of the Charities Act 2011 ('the Act').
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutundersection145oftheActand in
carryingoutmyexaminationIhavefollowedallapplicableDirectionsgivenbytheCharityCommission under
section 145(5)(b) of the Act.
Independent examiner's statement
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentionin 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 connectionwith the examinationto which attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Perosha B Tengra
Chartered Accountant
Mehta & Tengra
Chartered Accountants
9 Berners Place
London
W1T 3AD
13 March 2023
Page 3
THE TRS FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
2022
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
25,000
Investment income
3
69
Total
25,069
EXPENDITURE ON
Charitable activities
4
The Lady Fatemah (a.s) Charitable Trust
5,000
Graham Layton Trust
1,000
Islamic Relief
5,000
BW Foundation
5,000
Learning for Life UK
1,000
Unicef UK
1,000
Save the Children
-
Clayhall Community Centre
1,000
Governance cost
900
British Asian Trust
-
Muslim Aid
-
Muslim Hands UK
-
Human Appeals
-
Association of NHS Charities
-
Action aid
-
Al Khair Foundation
-
Other
12
Total
19,912
NET INCOME/(EXPENDITURE)
5,157
RECONCILIATION OF FUNDS
Total funds brought forward
11,191
TOTAL FUNDS CARRIED FORWARD
16,348 |
2021
Total
funds
£
-
91
91
2,000
-
1,000
-
1,000
1,000
1,000
-
(3,900)
1,000
1,000
1,000
1,000
1,000
1,000
1,000
31
9,131
(9,040)
20,231
11,191 |
|
|
The notes form part of these financial statements
Page 4
THE TRS FOUNDATION
BALANCE SHEET 31 DECEMBER 2022
2022
Unrestricted
funds
Notes
£
CURRENT ASSETS
Cash at bank
19,228
CREDITORS
Amounts falling due within one year
9
(2,880)
NET CURRENT ASSETS
16,348
TOTAL ASSETS LESS CURRENT LIABILITIES
16,348
NET ASSETS
16,348
FUNDS
10
Unrestricted funds
16,348
TOTAL FUNDS
16,348 |
2021
Total
funds
£
13,171
(1,980)
11,191
11,191 |
|
11,191 |
|
11,191
11,191 |
The financialstatementswere approved by the Board of Trustees and authorisedfor issue on 13 March 2023 and
were signed on its behalf by:
F T Suterwalla - Trustee
The notes form part of these financial statements
Page 5
THE TRS FOUNDATION
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022
Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Interest received
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 |
2022
£
5,988
5,988
69
69
6,057
13,171
19,228 |
2021 |
|
|
£ |
|
|
(14,831)
(14,831)
91
91
(14,740)
27,911
13,171 |
The notes form part of these financial statements
Page 6
THE TRS FOUNDATION
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022
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:
Interest received
Increase/(decrease) in creditors
Net cash provided by/(used in) operations |
2022
£
5,157
(69)
900
5,988 |
2021 |
|
|
£
(9,040)
(91)
(5,700)
(14,831) |
2. ANALYSIS OF CHANGES IN NET FUNDS
|
At 1.1.22 |
Cash flow |
At 31.12.22 |
|
£ |
£ |
£ |
Net cash |
|
|
|
Cash at bank |
13,171 |
6,057 |
19,228 |
|
13,171 |
6,057 |
19,228 |
Total |
13,171 |
6,057 |
19,228 |
The notes form part of these financial statements
Page 7
THE TRS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financialstatementsof the charity,which is a public benefit entity under FRS 102, have been prepared
inaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January 2019)',
FinancialReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republic of
Ireland'and the CharitiesAct 2011. The financialstatementshave been prepared under the historical cost
convention.
There havebeen no changesto accountingpoliciessincelastyear nor havebeen any changesto accounts
for previous years.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementto the
funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesare recognisedasexpenditureassoonasthereis a legalor constructiveobligation committing
thecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequired in
settlementand the amount of the obligationcan be measuredreliably.Expenditureis accountedfor on an
accrualsbasis and has been classifiedunder headings that aggregate all cost related to the category. Where
costscannotbe directlyattributedto particularheadingstheyhavebeen allocatedto activitieson a basis
consistent with the use of resources.
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedas a
commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
continued...
Page 8
THE TRS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
2.
DONATIONS AND LEGACIES
Donations
3.
INVESTMENT INCOME
Bank deposit interest
4.
CHARITABLE ACTIVITIES COSTS
The Lady Fatemah (a.s) Charitable
Trust
Graham Layton Trust
Islamic Relief
BW Foundation
Learning for Life UK
Unicef UK
Clayhall Community Centre
Governance cost
5.
GRANTS PAYABLE
The Lady Fatemah (a.s) Charitable Trust
Graham Layton Trust
Islamic Relief
BW Foundation
Learning for Life UK
Unicef UK
Save the Children
Clayhall Community Centre
British Asian Trust
Muslim Aid
Muslim Hands UK
Human Appeals
Association of NHS Charities
Action aid
Al Khair Foundation |
Grant
funding of
activities
(see note
5)
£
5,000
1,000
5,000
5,000
1,000
1,000
1,000
-
19,000 |
2022
£
25,000
2022
£
69
Support
costs (see
note 6)
£
-
-
-
-
-
-
-
900
900
2022
£
5,000
1,000
5,000
5,000
1,000
1,000
-
1,000
-
-
-
-
-
-
-
19,000 |
|
|
|
|
|
|
2021 |
|
|
|
|
£ |
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2021 |
|
|
|
|
£ |
|
|
|
|
91 |
|
|
|
|
|
|
|
|
Totals
£
5,000
1,000
5,000
5,000
1,000
1,000
1,000
900
19,900 |
|
|
|
|
2021 |
|
|
|
|
£
2,000
-
1,000
-
1,000
1,000
1,000
-
1,000
1,000
1,000
1,000
1,000
1,000
1,000
13,000 |
|
continued...
Page 9
THE TRS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
5. GRANTS PAYABLE - continued
The total grants paid to institutions during the year was as follows:
Graham Layton Trust
The Lady Fatemah (a.s) Charitable Trust
Islamic Relief
BW Foundation
Learning for Life UK
Unicef UK
Save the Children
Clayhall Community Centre
British Asian Trust
Muslim Aid
Muslim Hands UK
Human Appeals
Association of NHS Charities
Action aid
Al Khair Foundation |
2022
£
1,000
5,000
5,000
5,000
1,000
1,000
-
1,000
-
-
-
-
-
-
-
19,000 |
2021 |
|
|
£
-
2,000
1,000
-
1,000
1,000
1,000
-
1,000
1,000
1,000
1,000
1,000
1,000
1,000
13,000 |
6. SUPPORT COSTS
SUPPORT COSTS |
|
|
Governance |
|
costs |
|
£ |
Governance cost |
900 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees'remunerationor other benefitsfor the year ended 31 December2022 nor for the
year ended 31 December 2021.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31December2022norfortheyear ended
31 December 2021.
continued...
Page 10
THE TRS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
|
|
|
Unrestricted |
|
|
funds |
|
|
£ |
|
INCOME AND ENDOWMENTS FROM |
|
|
Investment income |
91 |
|
EXPENDITURE ON |
|
|
Charitable activities |
|
|
The Lady Fatemah (a.s) Charitable Trust |
2,000 |
|
Islamic Relief |
1,000 |
|
Learning for Life UK |
1,000 |
|
Unicef UK |
1,000 |
|
Save the Children |
1,000 |
|
Governance cost |
(3,900) |
|
British Asian Trust |
1,000 |
|
Muslim Aid |
1,000 |
|
Muslim Hands UK |
1,000 |
|
Human Appeals |
1,000 |
|
Association of NHS Charities |
1,000 |
|
Action aid |
1,000 |
|
Al Khair Foundation |
1,000 |
|
Other |
31 |
|
Total |
9,131 |
|
NET INCOME/(EXPENDITURE) |
(9,040) |
|
RECONCILIATION OF FUNDS |
|
|
Total funds brought forward |
20,231 |
|
TOTAL FUNDS CARRIED FORWARD |
11,191 |
|
|
|
|
continued...
Page 11
THE TRS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
10.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS
Comparative net movement in funds, included in the above are as
Unrestricted funds
General fund
TOTAL FUNDS |
2022
2021
£
£
2,880
1,980
Net
movement
At
At 1.1.22
in funds
31.12.22
£
£
£
11,191
5,157
16,348
11,191
5,157
16,348
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
25,069
(19,912)
5,157
25,069
(19,912)
5,157
Net
movement
At
At 1.1.21
in funds
31.12.21
£
£
£
20,231
(9,040)
11,191
20,231
(9,040)
11,191
follows:
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
91
(9,131)
(9,040)
91
(9,131)
(9,040) |
|
2021
£ |
|
|
|
1,980 |
|
|
|
|
continued...
Page 12
THE TRS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Net
movement
At
At 1.1.21
in funds
31.12.22
£
£
£
20,231
(3,883)
16,348
20,231
(3,883)
16,348 |
Net
movement
At
At 1.1.21
in funds
31.12.22
£
£
£
20,231
(3,883)
16,348
20,231
(3,883)
16,348 |
|
|
16,348 |
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedin the
above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
25,160
(29,043)
(3,883)
25,160
(29,043)
(3,883) |
|
|
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2022.
Page 13
THE TRS FOUNDATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
2022
£
INCOME AND ENDOWMENTS
Donations and legacies
Donations
25,000
Investment income
Bank deposit interest
69
Total incoming resources
25,069
EXPENDITURE
Charitable activities
Grants to organisations
19,000
Other
Bank charges
12
Support costs
Governance costs
Overprovision of accountancy
-
Accountancy
900
900
Total resources expended
19,912
Net income/(expenditure)
5,157 |
2021
£
-
91
91
13,000
31
(4,800)
900
(3,900)
9,131
(9,040) |
|
|
This page does not form part of the statutory financial statements
Page 14