**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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Page
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
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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.**
## **4.**
## **5.**
## **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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