Charity number: 1072836
DOCTOR MUNSHI FOUNDATION
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

DOCTOR MUNSHI FOUNDATION
CONTENTS
Page
Reference and administrative details of the Charity, its Trustees and advisers
Trustees. report
Independent examiner's report
Statement of financial activities
Balance sheet
Notes to the financial statements
8-16

DOCTOR MUNSHI FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARI￿, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
Paul Mauri
Samad Munshi
Zaibie Munshi
Charity registered
number
1072836
Principal office
1 Poplar Pla
London
W2 4AS
Independent examiner
Edward Passmore FCA
BKL Audit LLP
35 Ballards Lane
London
N3 1XW
Bankers
Na￿est
POBox1936
46 Notting Hill Gate
London
W113HZ
Page 1

DOCTOR MUNSHI FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report together with the financial statements of the Charity for the year 1 April
2023 to 31 March 2024.
Objectives and activities
a. Policies and objectives
The object of the trust is to support the activities carrted out by institutions in the entire world in connection with
the relief of povety and sickness and the promotion of medical research by the provision of grants to such
charitable institutions or institutions as the trustees at their discretion shall decide. There have been no changes
to these objectives during the year.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance
published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a
charity {PB2}'.
b. Strategies for achieving objectives
The Trustees raise funds through the charities investments and then distribute those fijnds to institutions of a
charitable nature.
c. Activities undertaken to achieve objectives
The charity donates its income to institutions of a charitable nature.
d. Main activities undertaken to further the Charity's purposes for the public benefit
The charity distributes its funds to institutions of a charitable nature who then themselves use the funds to
engage in activities which directly contribute to the public benefit.
Achievements and performance
a. Main achievements of the Charity
During the year the trust paid grants of £2.510 (2023.. £3,667) to charitable institutions which have objects in line
with those of the trust.
b. Review of activities
The charity earned income of £26,908 (2023 . £26,295) from its investments in the year and donated £2,510
(2023.. £3,667) of that income to institutions of a charitable nature. The charity now has £745,482 (2023..
£722,315) in its reserves which it will be able to donate in frjture years.
Page 2

DOCTOR MUNSHI FOUNDATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Financial review
. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate
resources to continue in operational existen￿ for the foreseeable future. For this reason, they continue to adopt
the going concern basis in preparing the financial statements. Further details regarding the adoption of the
going concern basis can be found in the accounting policies.
b. Reserves policy
It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be
maintained at a level equivalent to be￿een three and six month's expenditure. The trustees consider that
reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue
the trust's current activities while consideration is given to ways in which additional funds may be raised. The
level of reserves has been maintained throughout the year.
Structure, governance and management
a. Constitution
Doctor Munshi Foundation is a registered charity, number 1072836, and is constituted under a Trust deed.
b. Methods of appointment or election of Trustees
When vacancies occur on the Board of Trustees, new trustees are recruited locally and through advertising,
stating skills that are needed on the Board of Trustees.
Page 3

DOCTOR MUNSHI FOUNDATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Statement of Trustees. responsibilities
The Trustees are responsible for preparing the Trustees. report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practi￿).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for
each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources
and application of resources, including its income and expenditure, for that period. In preparing these financial
statements, the Trustees are required to=
select suitable accounting policies and then apply them consistentty.,
observe the methods and principles of the Charities SORP (FRS 102).,
make judgments and accounting estimates that are reasonable and prudent"
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any
material departures disclosed and explained in the financial statements.,
prepare the financial 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 adequate accounting records that are sufficient to show and explain
the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity
and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity
(Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for
safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by..
Samad Munshi
Trustee
Date: 2110112025
Page 4

DOCTOR MUNSHI FOUNDATION
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Independent Examinerfs Report to the Trustees of Doctor Munshi Foundation ('the Charity.)
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March
2024.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordan￿ with the
requirements of the Charities Act 2011 ('the 2011 Act,).
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and
in carrying out my examination I have followed the applicable Directions given by the Charity Commission under
section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
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 130 of the 2011 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 fairf 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.
This report is made solely to the Charity's Trustees, as a body, in accordan￿ with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's
Trustees those matters l am required to state to them in an Independent examinerfs report and for no other
purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
the Charity and the Charity's Trustees as a body. for my work or for this report.
Signed..
Dated: 22101/2025
Edward Passmore FCA
BKL Audit LLP
35 Ballards Lane
London
N3 1XW
Page 5

DOCTOR MUNSHI FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Investments
26,908
26,908
26,295
Total income
26,908
26,908
26,295
Expenditure on:
Charitable activities
3,741
3,741
933
Total expenditure
3,741
3,741
933
Net movement in funds
23,167
23,167
25,362
Reconciliation of funds:
Total funds brought fomard
Net movement in funds
722,315
23,167
722,315
23,167
696, 953
25,362
Total funds carried forward
745,482
745,482
722,315
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 to 16 form part of these financial statements.
Page 6

DOCTOR MUNSHI FOUNDATION
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
Fixed assets
Investment propety
450,000
450,000
450,000
450,000
Current assets
Debtors
Cash at bank and in hand
10
15.014
288.572
12,847
267,067
303,586
279,914
Creditors.. amounts falling due within one
year
(8,104)
(7, 599)
Net current assets
295,482
272,315
Total net assets
745,482
722,315
Charity funds
Unrestricted funds
12
745,482
722,315
Total funds
745,482
722,315
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by..
Mw1ffjki
Samad Munshi
Trustee
Date: 2110112025
The notes on pages 8 to 16 form part of these financial statements.
Page 7

DOCTOR MUNSHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
General information
Doctor Munshi Foundation was established by a charitable trust deed on 11th November 1998. The
registered office is 1 Poplar Pla￿, London, W2 4AS.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordan￿ with the Charities SORP (FRS 102)
Accounting and Reporting by Charities.. Statement of Recommended Practi￿ 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), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Doctor Munshi Foundation meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the
relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic
benefit to a third paty, 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 classified by
activity- The costs of each activity are made up of the total of direct costs and shared costs,
including support costs involved in undertaking each activity- Direct costs attributable to a single
activity are allocated diredy to that activity. Shared costs which contribute to more than one activity
and support costs which are not attributable to a single activity are apportioned be￿een those
activities on a basis consistent with the use of resources. Central staff costs are allocated on the
basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the
offer is conditional, such grants being recognised as expenditure when the conditions attaching are
fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a
commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
Page 8

DOCTOR MUNSHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (continued)
2A Investments
Fixed asset investments are a fomi of financial instrument and are initialty recognised at their
transaction cost and subsequently measured at fair value at the Balance sheet date, unless the
value cannot be measured reliably in which case it is measured at cost less impairment. Investment
gains and losses, whether realised or unrealised, are combined and presented as 'Gainsl(Lossesl
on investments, in the Statement of financial activities.
2.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balan￿ sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the
amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the
amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability- The
unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.8 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their settlement value with the ex￿ptIOn of bank loans which are
subsequently measured at amortised cost using the effective interest method.
2.9 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Investment income, gains and losses are allocated to the appropriate fund.
Page 9

DOCTOR MUNSHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Investment income
Unrestricted
funds
2024
Total
funds
2024
Rental income
Interest re￿1vable
26,000
908
26,000
908
26,908
26.908
Unrestricted
funds
2023
Total
funds
2023
Rental income
25,999
296
25,999
296
Interest re￿1vable
26, 295
26,295
Anatysis of grants
Grants to
Institutions
2024
Total
funds
2024
Supporting good causes
2,510
2.510
Grants to
Institutions
2023
Total
funds
2023
Supporting good causes
3,667
3,667
The Charity has made the following material grants to institutions during the year..
Page10

DOCTOR MUNSHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Anatysis of grants (continued)
2024
2023
Name of institution
Royal National Institute of Blind People
Islamic Aid
2,000
160
3,000
300
British Red Cross
300
250
Guide Dogs
Save the Children
117
50
2.510
3,667
Anatysis of expenditure on charitsble activities
Summary by fund type
Unrestricted
funds
2024
Total
2024
Supporting good causes
3,741
3,741
Unrestricted
funds
2023
Total
2023
Supporting good causes
933
933
Analysis of expenditure by activities
Grant
funding of
activities
2024
Support
costs
2024
Total
funds
2024
Supporting good causes
2,510
1,231
3,741
Page11

DOCTOR MUNSHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Anatysis of expenditure by activities (continued)
Grant
funding of
activities
2023
Support
costs
2023
Total
funds
2023
Supporting good causes
3.667
(2, 734)
933
Anatysis of support costs
Supporting
good
causes
2024
Total
funds
2024
Governan￿ costs
760
760
Insurance
471
471
Governan￿ costs are comprised entirely of the Independent Examination fee for the year.
Supporting
good causes
2023
Total
funds
2023
Governance costs
Write-back on accrual
727
(3, 879)
418
727
(3, 879)
418
Insuran
(2, 734)
(2, 734)
Governan￿ costs in the prior year were comprised entirely of the Independent Examination fee.
Independent examiner's remuneration
2024
2023
Fees payable to the Charity's independent examiner for the preparation and
independent examination of the Charitys annual accounts
750
727
Page 12

DOCTOR MUNSHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023- £NIL).
Page13

DOCTOR MUNSHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Investment property
Freehold
investment
property
Valuation
At 1 April 2023
450,000
At 31 March 2024
450,000
The property is situated in 54 High Street, Acton and was a gift by the settlor. The property was valued on
the 31 st March 2017 by the Trustees. It is the opinion of the Trustees, based on the current rent and yield
of the property, that the value of the property has remained unchanged Sin￿ the previous valuation.
10. Debtors
2024
2023
Due within one year
Trade debtors
12,847
2,167
12,847
Prepayments and accrued income
15,014
12,847
11.
Creditors: Amounts falling due within one year
2024
2023
Trade creditors
other creditors
1,344
6.000
760
873
6, 000
726
Accruals and deferred income
8.104
7,599
Page 14

DOCTOR MUNSHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
12.
Statement of funds
Statement of funds - current year
Balance at
31 March
2024
Balance at 1
April 2023
Income Expenditure
Unrestricted funds
General Funds- all fijnds
722,315
26.908
(3,741)
745,482
Statement of funds - prior year
Balance at
31 March
2023
Balan￿ at
1 April 2022
Income Expenditure
Unrestricted funds
General Funds- all funds
696, 953
26,295
(933)
722,315
Page15

DOCTOR MUNSHI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
13.
Analysis of net assets between funds
Anatysis of net assets between funds - current period
Unrestricted
funds
2024
Total
funds
2024
Investment property
Current assets
450,000
303,586
(8,104)
450.000
303,586
18.104)
Creditors due within one year
Total
745,482
745.482
Anatysis of net assets between funds - prior period
Unrestricted
funds
2023
Total
funds
2023
Investment propety
Current assets
Creditors due within one year
450, 000
279,914
(7, 599)
450, 000
279,914
(7, 599)
Total
722,315
722,315
14. Related party transactions
Safaza Investments Limited and The Doctor Munshi Foundation are related parties due to the existen
of a common Directorffrustee (Samad Munshi). The related paty transactions in the year are as follows:
The Doctor Munshi Foundation has an outstanding creditor balan￿ with Safaza Investments Limited to
the sum of £1,344 (2023.. £873). with insurance expenses charged from Safaza Investments Limited to
the sum of £471 (2023: £418).
Page 16