REGISTERED CHARITY NUMBER: 1083433
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
FOR THE KHAYAMI FOUNDATION
Hartley Fowler LLP Chartered Accountants 4th Floor Tuition House
27-37 St George's Road Wimbledon London SW19 4EU
THE KHAYAMI FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
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Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 10
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THE KHAYAMI FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. 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 principal activities of the charity are to advance the education of children and adults, to advance medical research, social welfare, the relief of need, hardship and distress and the advancement of religion.
The Khayami Foundation was established as a UK-based charitable trust in November 2000. The objects of the Foundation are deliberately expressed in the broadest terms, providing its trustees with the widest mandate to offer aid and assistance where it is felt to be most needed.
However, it is nonetheless, the will of its Trustees that the Foundation should primarily focus its attention on the ethos that peace and tolerance amongst nations can be achieved through the promotion of education and mutual understanding between people of all races and religions.
Significant activities
Major activities undertaken in 2024 were to provide donations in support of education and social welfare.
Public benefit
The trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charities Commission.
Grantmaking
In view of the wide range of objects which The Khayami Foundation is seeking to benefit, the trustees give much time to discussing the many requests for aid that are received from other charities and as to how the maximum benefits might be achieved in terms of the charity's objects.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
Summary of the main achievements during the year
The Khayami Foundation was able to make charitable grants of £41,500 in support of healthcare and other charitable causes.
Performance achieved in charitable activities against objectives set
The aforementioned donations enabled The Khayami Foundation to fulfil its objective of the advancement of education of children and adults, to advance medical research, social welfare, the relief of need, hardship and distress and the advancement of religion.
Fundraising activities
The Khayami Foundation does not undertake fund raising activities.
Investment performance
The Khayami Foundation does not rely on funds invested to balance its budget.
FINANCIAL REVIEW
Financial position
The incoming resources for 2024 were £44,022 (2023 - £25,246). The Khayami Foundation made charitable donations of £41,500 (2023 - £35,000). The charity has unrestricted reserves of £20,996 as at 31 December 2024.
Investment policy and objectives
There are no restrictions on the charity's powers to invest. However, the trustees are risk averse and will select any investments with that attitude in mind.
Reserves policy
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which provides sufficient funds to cover management and administration and support costs and to respond to applications for grants which arise from time to time.
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THE KHAYAMI FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
FINANCIAL REVIEW
Funds in deficit
There are no funds in deficit.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Khayami Foundation is governed by the Trust Deeds and is organised according to the recommendations of the Charity Commission for England and Wales.
Charity constitution
The Khayami Foundation is constituted as an unincorporated charity.
Recruitment and appointment of new trustees
New trustees are selected according to their interest in the objectives of the charity and their experience in their respective fields.
Organisational structure
The Khayami Foundation is governed by a board of three trustees chosen for their range of skills. It is represented by people with business and management experience. The trustees are primarily responsible for controlling the management and administration of The Khayami Foundation charity and bear the ultimate responsibility for directing the affairs of The Khayami Foundation and ensuring that it is solvent, well run and delivering the charitable outcomes for which The Khayami Foundation has been set up.
Induction and training of new trustees
New trustees are given an induction kit including: Charity Commission of England and Wales "The Essential Trustee" that sets out the rules and regulations on the role, duties, and liabilities of trustees. The appointment of trustees is confirmed only after they show understanding of a trustee's role, duties and liabilities.
Related parties
These are disclosed in the note to the financial statements 'Related Party Transactions'.
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.
The trustees have a risk management policy, which encompasses financial, operational, legal/regulatory, strategic and reputation and public interest. There is an annual review of the risks the charity may face. Although the charity faces few risks this review has allowed the trustees to identify these risks and set up necessary procedures.
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THE KHAYAMI FOUNDATION FOR THE YEAR ENDED 31 DECEMBER 10&3433 4th Hoor Tuitton Htx 27-37 St (rge'S Road Wimbtajon London SW19 4EU A Khayaml H A S lknmlan H B Peters IndepeNlent Examlner Jonathan Askew FCA artered Accountsnts 4th Floor TuÉtN)n H 27-37 st George's Road Wimbledon London SW19 4EU law and United lQngd(Th Accountirwj Stsnda RerM)rtir4J Stsrthrd 102 Tr (Unttaj rjdOm C*neraWI kcounting i[dIng nandal The law applKable to charitss In EngL3r#l a Was, the (tsities kt 2011, Cjority (l£¢kn ReFKMts) Regulatic 2008 and falr viav of the state of afPdirs of the arfty and (l the incunirNJ regwros and akwlcatlon of resourc4 induding the obwve the metrths and prtndples in the in busiF financial poauon of the aixl to the Charity (Acojurts and Rem) Regu safeguanling the charity arKI h ns 2CKB and the the tru4 deed. ThLy are akn reSpOnb lor yanii - Trustee
INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES OF THE KHAYAMI FOUNDATION Independent examinerfs report to the trustees of The Khayaml Foundation report to the charity trustees on my examination of the accounts of The Khayami Foundation (the Trust) for the year ended 31 December 2024. Responsibilities and basis of report As the charity trustees of the Trust you are resrK)nsible for the preparation of the accounts in accordan with the requirements of the Charities Act 2011 ('the ALt'). I report in pect 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 Direcbons given by the Charity Commission under Section 145(5)(b) of the Art. 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 re5rErt: accountlng records were not kept In respect of the Trust as required by Section 130 of the Att; 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 reqtjirement that the accounts give a true and falr view which Is not a matter consldered as part of an independent examination. I have no concerns and have come across no other matters In connection wlth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Jonath n Askew F Hartley Fowler LLP Chartered Accountants 4th FlcK)r Tuition House 27-37 St George's Road Wimbledon London SW19 4EU 28 August 2025
THE KHAYAMI FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 3 Investment income 4 |
2024 2023 Unrestricted Total fund funds £ £ 43,750 25,000 272 246 |
|---|---|
| Total | 44,022 25,246 |
| EXPENDITURE ON Charitable activities Charitable activities |
46,000 38,429 |
| NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward |
(1,978) (13,183) 22,974 36,157 |
| TOTAL FUNDS CARRIED FORWARD | 20,996 22,974 |
The notes form part of these financial statements
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IHE KHAYAP41 FOIWIDATION 31 DECEMBER 2024 2024 T(lal Totsl funds Cath at bank 23,In 25.149 ounts faUiTrJ thin (2,175) (2,175) 22,974 22,974 20,996 22.974 Unresitlcted funds 22,974 20.996 22.974 ts tw. A thayarni- T1tee
THE KHAYAMI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. GENERAL INFORMATION
The charity is a UK-based charitable trust. The address of its registered office is 4th Floor, Tuition House, 27-37 St George's Road, Wimbledon, London SW19 4EU. The registered number of the charity is 1083433 The financial information presented is for the year ended 31 December 2024 and is presented in sterling.
2. 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.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. In future years, the key risks to the charity are a fall in income. The trustees have a series of measures to control, mitigate and minimise the effects of a fall in income, including a prudent reserves policy.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
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.
The following specific policies apply to the categories of income:
i) Donations and gift aid are recognised when the charity has been notified in writing of both the amount and settlement date.
ii) Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
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.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated to such activities and those costs of an indirect nature necessary to support them.
Governance costs
Governance costs include those costs incurred in the governance of the charity and comprise the production of the statutory accounts and the independent examination.
Taxation
The charity is exempt from tax on its charitable activities.
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THE KHAYAMI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
2. ACCOUNTING POLICIES - continued
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.
Financial instruments
The charity only has financial instruments 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.
Cash at bank
Cash at bank includes bank deposits 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.
Debtors
Trade and other debtors are recognised at the settlement amount due. Prepayments are recognised at the invoiced cost prepaid.
Creditors
Creditors are recognised when the charity has a present obligation resulting from a past event that will probably results in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at the settlement amount.
3.
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DONATIONS AND LEGACIES
| Donations Gift aid INVESTMENT INCOME Deposit account interest GRANTS PAYABLE Charitable activities The total grants paid to institutions during the year was as follows: Library for Iranian Studies Chelsea & Westminster Hospital Sharnbrook House Care Home |
2024 £ 35,000 8,750 43,750 2024 £ 272 2024 £ 41,500 2024 £ 25,000 16,500 - 41,500 |
2023 £ 20,000 5,000 25,000 2023 £ 246 2023 £ 35,000 2023 £ 25,000 - 10,000 35,000 |
|---|---|---|
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THE KHAYAMI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
6. SUPPORT COSTS
| SUPPORT COSTS | |
|---|---|
| Charitable activities | Governance costs £ 4,500 |
| Support costs, included in the above, are as follows: Governance costs 2024 Charitable activities £ Independent examiner fees 4,500 |
2023 Total activities £ 3,429 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
9.
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|
| Other creditors | 2024 2023 £ £ 2,175 2,175 |
|
| MOVEMENT IN FUNDS Unrestricted funds General fund |
At 1/1/24 £ 22,974 |
Net movement At in funds 31/12/24 £ £ (1,978) 20,996 |
| TOTAL FUNDS | 22,974 | (1,978) 20,996 |
| Net movement in funds, included in the above are as follows: Unrestricted funds General fund |
Incoming resources £ 44,022 |
Resources Movement expended in funds £ £ (46,000) (1,978) |
| TOTAL FUNDS | 44,022 | (46,000) (1,978) |
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THE KHAYAMI FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At At 1/1/23 in funds 31/12/23 £ £ £ Unrestricted funds General fund 36,157 (13,183) 22,974 |
|---|
| TOTAL FUNDS 36,157 (13,183) 22,974 |
| Comparative net movement in funds, included in the above are as follows: Incoming Resources Movement resources expended in funds £ £ £ Unrestricted funds General fund 25,246 (38,429) (13,183) |
| TOTAL FUNDS 25,246 (38,429) (13,183) |
10. RELATED PARTY DISCLOSURES
During the year the Foundation received donations of £35,000 (2023 - £20,000) from a trustee.
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