2022-03-31-accounts

Company ttgistration number.. 04269943 cban.ty ￿￿stratiOn number. 1095379 First Asian Support Trust (FAST) Ltd (A cornpsny limited by guarante¢) Annual Rqjort and Financial Statcmcnts for the Year Ended 31 March 2022 •ABw5￿1￿ 0710112023 COMPANIES HOUSE

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First Asian Support Trust (FASD Ltd Contents Reference and Administsatiye Detsils TnLStees' Report 2to3 Statement of TnJst¢es' liespon5ibilities Statement of Financial Activities 5106 Salance Stleet Not¢s to the Financial Statements 8t017

First Asian Support Trust (FAST) Ltd Reference and Administrative Details Trustees Wasaq Sheikh N￿rat Patvin Abtnad Naheed Ali Secretary Nusrat Parvin Ahmad Charity Registrtiott Number 1095379 Company Registration Number 04269943 The charity is iticorpoTated in Eogland aod Wales. .Mac House . 47.49 Carnarvon Streei Manchestrr Greater Manchester bA3 IEZ .ReEistered Offiee. Prineip#l Off￿e Ma¢ House 4749 C8rnarvon Street MaoctLesr Greater Manehester M3 IEZ Accountants Shacier Cohen & Bor LLP 31 Sackville Styeet Manehester MI 3LZ Bankers Royal Baok of Scotland Drummood House l Redheughs Avenue. Edinburgh EH129JN

First Asian Support TTh$t (FAST) Ltd Trustees, Report The trustees, who are dire¢tors for thr PUTPOSCS of ¢otnpany law, prtsent the annual report together with the fLnatLcial ststrmcnts of the ¢haritabl¢ rompany for thc ycar ended 31 March 2022. Objectives aDd aeiivities Public benefii New Cumt Objects.. To fiffther or benefjt the residents of Manchester and the neighlx)uIh(M)￿ without distinction of sex. sexual orientaiion, race or of wlitical. ￿1)sIOUs or other opinions by ￿￿)ciallng ￿gether the said residents and the local authorities, voluntsry and other Organisations ID a comtnon effort to advance education and (o provide facilitses in the interests of Ktial welfate for recreation atid leisure tuiié o¢¢upation with the objectsve of improwing the conditions of life for the residents. Including by= advancing education by the provision of such trainin8 facilities ￿ will enable Such person5 ￿ acquire alld develop skills whjch wtll enhance their di8itsl, fitlancial and 5(Kial incI￿lon- . relieving unemployment for ihe benefii of the public in such way5 as may be thought fil includiTh8 assistance io find employTnent- c. advancing social wellbeing for the public benefit by provtditig itiform3ti0n. advice alld guidatlce relating to employmen¢ trdinin& health. social welfare. beuefits and associated topics. d. prom￿]ng equality aDd diversity for the public benefit by promoting activities ￿ foster understsyjditig behveet) people form dhver5c backgrouDds" promot2Jl8 SOCLal iDcIusioll for the public benefit by preventing people from be¢omiDg socially excluded. relieviDg the needs of those people wtb) are socially excluded and assisling them to ititeyate into society. For the pwpose of this clause 'so¢ially exeluded. means beitig excluded from sociery, or parts of sociery. as a Tesuli of one of JTh)r¢ of the following factor5.' unemployment- financial har<L%hip- youth or old a8e- ill health (pbysital or menral). substance or dependency including alcohol and dnJg5.' discrimination on the grounds of sex. race, disabLlity, ethnjc Origin, religion, belief, creed. sexual orientation or gender re-ass1￿nenf. poor educaiional or skills attainmeni. relaiion5hip and family breakdO￿- poor housing (that is housing that does no¢ med basic habitable standards; crime (either a5 a victirn of crime or as an offender rehabilitating In￿ society)." The trustees coofimi that they have complied with the requireM￿ts of section 17 of the Charities Act 2011 to bave due iegard to the public benefit guidallce published by the Charity Commissk¢)n for England and Wales. Finantial instrurnents Objeclives 41ndpolieie$ The charity's aetiviiies expose it to a Dumtrrtr of financial risks includin8 credit risK ctsh flow risk and liquidity risk. The use of fmancial derivatives is governed by the charity's policies approved by tbe boaTd of trustees. whicb provide ￿ritten principles on the of financial derivatives to maDage these risks. The charity does not se derivative f￿anCial instruments for speculative pulp0￿. Coshfvw risk The chariry's a¢tivities expose it primarily to the financial risks of changes in foreign currency txchan8e ratc5 and in¢resf ra¢es. Th¢ charity w foreign exch3n8t forward contracts and interest rate swap contracts to h¢dge Ihese exp)sutes. Jnterest bearirjg assets and liabilities are held ai fixed ra to ¢r$u￿ cenainty of ¢asb flow5. Page 2

First Asian Support Trnst (FAST) Ltd Trustees. Report Cpedii risk The charity's Ptincipal fioan¢i31 a￿ts are bank balaDce$ and casty trade and other receivables. 8nd inveslments. The charity's credit nsk is PTimarily attrtbutable to its trade receivables. The amounts p￿sented in the balance sheei are net of allowan¢es for dovbthl receivables. An allowanct for Émpairment is made where there is an ide#tified loss ¢v¢nt which, b&sed on pre￿Ou$ experiaKe. is evide1￿e of a reduetioll in the recovtrability of the ¢asb flows. The credit nsk on liquid fijnds aod derivative fJnaneia] in5trumetLts is li￿￿ted I￿llse the cou[L￿[partieS are banks with lll.gh crtdiÈ-raitt8s assL8ned by itlternationai credL'i-ratiDg agcDcies. The clwity h15 no siBrtIr1c￿t concentrariotl of credit risk, with cxp05ure spread ovcr a large number of ¢owiterparties and customers. Liquidity risk. In order to n]ointain liquidity to ensure that suffitient are avaklable for ongoing operati¢)ns and fvture developments, the charity uses a mixttwe of long-terni aDd short-iemi debt finance. Furtber details re8ardin8 liquidity risk c4n t in the Statement of ac¢ouDlitig polLCLes in the financial ststeJnenLS. The annual report was approved by the trustees of the cl)aTity Ort 22 Dttember 2022 and signed ort its behalf by: Nusrdt Parvin Ahrnad Company Se¢Tewy andTTus¢ee

First Asian Support Trnst (FAST) Ltd Statement of Trustees, Responsibilities The trustets (who arr a150 Ihe directors of First Asian sUp￿rt Tru51 IFAST) for the PUTposes of company law) are responsible for preparing the rn]ses' report and the flnancial statements In ac¢ordan¢e with applicable law and United Kingdom A¢¢owiiing S￿￿dards (United Kingdorn Generdlly Accepted Accounting Practice), in¢ludLng FRS 102'The Finarttial Reportjrto Startdard applieable in the UK and Republic of Jreland" CoTnpany law reqllires the tNstees to prepare fiuancial strtemenrs for each financial year. UDder company law tbe tr￿Ste¢S must noi approve the fillaJJ¢ial statemeThts UDless they are satisfied that they 8ive a mje and fair view of the state of affairs of the ¢bitable Co￿pa￿Y aDd of the incomitig resources and application of resources, including its income attd expenth"tttye. of the ¢baritable cot)wany for that peri￿ In preparing these fi]wi¢ial statements, the t[￿SteeS are reqJired to". select suitable accourttirtg poli¢ies artd apply them Consis￿ndy- observe the m¢tlh)ds attd prin¢iples iti the Cbarities SORP. tLth judgements and estsrnates thai are reasonable and piiidertk state whether applicable accouDtin8 standards, compri5in8 FRS 102 have been followed. subject to any material deparbjres disclo%d and explained in the financial 5tatcmcnts' ar prep2rt the fill2ttciai statements on the 80in8 concern b￿lS llnle￿ it is inappropriate to presume that the charitsble ¢ompatty will continue in business. The trt￿te£S are r¢sp)nsible for keeping proper accounting records that can disclose with reawnable accuracy at any time the financjal position of the charitable company and enablt them to ensure that the fjnancial s￿￿ments Cotnply with the Companies Act 2006. They are also responsible for safe8uardift8 the assets of iht charitable Otnpany and hertce for takin8 reasonable sw for tht prevention and detection of fraud and other I￿egUlaritIes. The trustees are responsible for the maintrnance at)d integrity of the corporate and fiDaDcial inf0M￿tiOn iocluded on the charitable company's website. Lewlaiion 8overning the preparation aDd di55emination of fmancial ststemthLS may differ from le8islation in other jurisdictsoD5. Approved by the tsustees of the cl￿rity on 22 Iyecember 2022 and signed on its behalf by: Nusrat PaEvin Ahmad Company secretary and tsw¢ee Page 4

First Asian Support Trust (FAST) Ltd Statement of Financial Activities for the Year Ended 31 March 2022 Oncluding Income and Expenditure Account and Statement of Total Recognised Gains gnd Lthses) Unr¢$tricted funds Restricted funds Total 2022 Nole Incorne #nd Ertdowments from: Dooatiot)s and legacie$ Charitable aetiviiies Oiher tr2dÉn8 activities Other Income 158 158 19,941 16.044 490 19.941 16.044 490 .TotaliDcome............. . 16.692 19,941 36,633 Expenditure oth- Chaiitable actLVLties (47,8451 47,845 Total expendittJr¢ 47.8451 47,845 Nei {eXpendikn￿eYinC0rnc Net movement in fun¢1 31,153 19.941 11.212 (31,153) 19.941 (IL,2I2) Re¢ollclllatioD of funds Total fijnds brougbt forward .Toral funds ¢arried forward 1,634 6.883 8.517 13 29.519 UDre$tricted fuDd5 26,824 695) Restricted Total funds 2021 Note In¢ome.and Endowments from: Donations &nd Icgacics Charirable activities Other trdding activities Other incowne 46 25,557 16,600 2,520 25,557 16,600 2,520 Toral 19,166 25.557 44.723 Expendhure offj: Charitable actLVLtie5 (48.9611 {48,961 Total expendittwe (48.961) {48,961 Net {expeDditure)fiDCtsTne Net movement in funds (29,7951 25.557 4.238 (29,795) 25.557 (4.238} Reconciliation of funds Total funds brought forward 31,429 (18 674 12,755 Totsl fvnds carried foThArd 13 1.634 6.883 8.517 Ail of the chatity's activities detive from contilluing operntions during the above two periods. The notes on pages 8 to 17 forni an inte￿￿ part ofthw financial srarements. Page 5

*+¥ First Asian Support Trust (FAST) Ltd Statement of Financial A¢tivities for the Year Ended 31 March 2022 On¢luding Income and Expenditure Aeeount and Statement of Total Recognised Gains and IA•sses) The fimds breakdown for 2021 is 5howiL in note 13. Tbe notrs oll pages 8 to 17 form att inte￿￿ part of these financial ststements. Pa8c 6

First Asian Support Trust (FAST) Ltd (Registration number: 04269943) Balance Sheet as at 31 March 2022 2022 2021 Noie Fixed •Mets Tangible assets 10 13.566 16,958 Current assets Cash at bank a￿d io band 4.285 8,045 Creditor5: Amounts (aliing due wlthlfft ott¢ y¢r 12 20.546 16,486 Nei Current liabllities 16.261 8.441 Net {libilitit$jlAsset$ Funds of the charity: 8,517 Restrieted Ineome funds Restticted funds 26.824 6,883 UDrestrie¢ed ineome funds Unrestrictrd fiu 29,519 1,634 Total funds 13 2,695 8.517 For the financial yeat endLng 31 March 2022 tht charity was entitled to exemption from &udit under section 477 of the Companies Act 2006 relatin8 to srnall conipanic5. Dire¢tOTS' responsibilities= The members have not required th¢ ¢harity to obtsin an audit of its accounts for the ytsr in question in arxordance with section 476." and The director5 acknowlcdge tbeir respoDsibilities for complying with thc requirements of the Act with respect accouotiTh8 record5 aDd tbe preparation of accouttts. The financial statements on pages 5 to 17 were approved by the trustees, and authoTised for issue on 22 December 2022 and ssgned on th•"r behalf by.. Nusrni Parvin Ahmad Company Se¢rewy and TnLStee The notrs on pages 8 to 17 fonn an partof these fjnancial ststernents. Page 7

First Asian Support Trust IFAST) Ltd Notes to tbe Financial Statements for the Year Ended 31 March 2022 I Charity Stlus The chaTity is lymiied by gu8rantet. inc.orwJrntrd in England artd Wa]L8. artd cfjnsequently does not have. 8h8rp. capital F.x¢.h ofihe. Ini.%tee% is liable to contribut£ xn Arnthuni nrjt excetAing f.Nil toward% the of thc chxrity in the event of Iiquidaiion. The addres5 of its registered office is: Mac House 4749 CarnaEVOO Jtre¢i Mauchester Greater Maocbesier M3 IEZ These fiT)ancia] s&ments were authoris¢d for issue by the mwee8 on 22 fiecernixr 2022. 2 Accounting policies of signifKant accounting policies and key accounting estimatts Th¢ principal accourtting polities applied it) the preparation of these finaDcial sutements are s¢t out below. These policies have been consLSt¢t)tly applied to all th¢ years pr¢5eD4 Unl￿ Otherwi￿ stated. Statement of compliance Tbe fi]Janciai statements have prepared ID at£onlaDce witFi Accotiiiting and Reporting by Cb8rities.' Staiemetst of Recommended Practice (applicable to chajities preparing their accounts in acttsrdance with the Financial Reporting Siandard applicablc in the UK and Republic of ITelaud (FRS 102)) (issued in O¢tobei 2019) - (Charitic5 SORP IFRS 102)). the FIDanctai RwrtiDg St&Ddard applicabk in the UK aDd R¢publi¢ of Ireland {FRS 102) aDd the Companie5 Act 2&)6. B$i$ of prep#r#tiott Fits1 Asian Support Tn]st (FAST) Ltd mttts the definition of a public benefit entity under FRS 102. Ass¢rs and liabilitie5 are initially recognised at historic￿ Cost or transaction Val￿ unless othen¥ise slated ID th¢ relevant at¢ountiTrg policy notes. Going eoDeern The tri.%tees cnnside.r that thrrc are no matCTial lincertainti￿ about the charity's ability tt) tmtiniip. 28 x eninp concern nor any si8nific4nt area5 of uncertainty that affect the carying vajuc of assets held by the Charity. Intome and eDdowmeNts All incnme is recognised once the charity tntiilemenl lo Iht income. it is probable. thxt the. in¢•me will received aDd the amoutrt of the income receivable be rlleasured reliably. Don¢7lions leg4cies I)onations are recngnis&4 when the charity has bt£D notififAI in writing of both the arnouTht and settlement AAte Tn the. e.vmt that a dnnaiinn i.s suhjert to conditinn% that ryuire a level of perf0rn18ncr. by the charity he.fore the eharity is entitleA to the fiinds. the ine.4)me is deferred and Mt rec[j￿ISed witil e.11h￿ th(XSf. c￿nditIOnS #re fiilly or the fulfilment of those conth"tions is wbolly within the control of the charity and it is probable that these ¢oDditiODS will be fijlfilled in the ￿po￿ngpeNOd. P￿¢8

Flrst Asian Support Trust (FAST) Ltd Notes to the Financial Statements for the Year Ended 31 Mareh 2022 Expendiiure All expenditure is recognised ottce there 1$ a legal or cortMn]ctive obligation to that expenditure, Lt is probable settlement 15 required and the amourtt can be M￿￿red reliably. All COSLS are allocated to the applicable expenditure heading that aggregate simi]ar COSLS io that catrgory. Whert costs eannoi be directly attributed to particular headings they have been allocated on a b8$1$ cortsistent with the use of resouTCts, with central stsfF costs alloc4ttd on the basis of tirne speni and depretjation thargts allocatrd on the portion of the ￿et'S use. Other support costs are all¢xatcd based on tht Sptead of staff Costs. Ch4rilAble 4clivil¥es Charitable expenditure comprises those costs incurred by the charity in the delivery of irs a¢iiviti¢s and servi¢es for its beneficiaries. li includes both costs that Can be allocad dirtctly to such a¢tiviiies and thos¢ Costs of an . Indirect natLLre necessary to support them.. Governance costs These include the ¢osts attributable to the charity's compliar￿e with eonstibjtsonal and stawtory requirements. including audi¢ Strategic management and tsijstees meetiTh8s and reirnbur5ed experw. Tudon The charity is considered to pass the tests sei out in Paragraph I Schedule 6 of the Finance Act 2010 atld therefore it meets the definition of a charitsble company for UK corporation purposes. Accordingly. the cbarity is p)tentially exempt from raxatioo in respect of income or capital gains received within categories covered by Chapter 3 Part I l of the Corpordtion Tax Act 2010 or Section 256 of the Ttsatitsn of Chargeable Gaitts Act 1992. to the extent tbat 5ucb income or gaiL% are,applied excl￿81velY to chatitable purpos T•nglbl¢ fiyed Asgets Individual fixed assets ¢OS¢ing £10.00 or more are initially recorded at COSL Icss any subsequent a¢cwnul*ed depre¢iarion and subsequent accumulated irnpairnient I<￿. Depre¢lation And AJnortisAtio Depreciation is provided on tangible fjxed assets so ￿ to writr off the cost or valultion, less any estimated residual value, over their exFe¢ted usefvl e¢onomJc life as follow5.. Asset clASS FurnLtute and equipmtslt Depreciation method and rate 20Ya Reducing balance basis Trade debtors Trade debtors are amounts due from custorners for merchandise sold or services perfornied in the ordinary course of business. TTade debtOTS are recogn15ed initially ai the transaction price. They are sub5equenily measured at aTnortised ¢ost usirtg the effeciive interest meth￿, less provision for itnpairrnenL A provisioTb for the impaimlent of trade debtors is esttblished when there is objeciive evidence thai the chariry will not be able to collect all amounts due accordirtg to the original remis of the recesvables. Page 9

First Asian Support Trust (FAST) Ltd Notes to the Financial Statements for the Year Ended 31 March 2022 Cash and ¢gsh equivalents Cash and c&sh equivalents comprise cash on hand and call dwits. aTbd other short-tem) highly liquid investineiJL% tjidt are re￿IlY ￿lIVertIble Lo a known amowhl vf LX5h wjd arr subje¢¢ io an iiibignifi¢ant ii¥k vr Change in value. Trade creditors TTa6¢ creditors are obligations to pay for or services that have bcen acquired in thr ordinary course of biisin&<s from suppliers. Acroumts payable are claK4ified r.Iirrpmt liahilitips if the charity d￿￿ not h?ve. IitY.nndilional righi, al the. end rjf the rep)rtinw ￿ri￿rI to defe.r sp.rt1pJnP￿t of the rieJlitnT ff)T at If￿t fwr.lve months after the rewrtiD8 date. If there is unconditsonal right to defer settlement for ot least twelve molltbs . aft¢r. the rey)rtin8 date, they are presented as nots4urretti liabilities.. Trade crediiors are retogDiSed initially Ai ihp. trAnsa¢tion price ¥Thl Miljseouthtly me4swed at aTTwJrhqeA rAqt using the effective interest meth(xl. Borrowings Interest-bearing ly)rnwngs are inirially recorded at fair value. nei of transaction Costs. Interest-bearing borrowrtgs are subsequently carried at arnorti5ed ￿$[ wth the difference berween the PTo¢eeds, rtet of transaction costs, and the amouni due on redemption being recognised as a charge to the Sfament of Financial Activities over the period of tht relevant borrowing. Lntcresl cxpensc is reCo￿lS¢d on the basis of the effective iiiteresi method and is inclllded in interest payable atld similar chargfs. Borrowings are C[￿7ficd as ¢urrtnt liabilities unless the charity has an unconditional right to d¢fer scttlcment of the liability for at Icast twelve months after the reporting date. Fund structure Urjtestricted iocome are general fijnds that ar¢ available for ￿ at the tn￿et$ discretion in fiuthuancc of tbe objectives of the clwity. Restricted income funds are those th￿ated for use in a porticular area or for specific purposes. the of which is restTi¢ted to that area or purp)se. FinaDcial instruments Finaucial assets and financial liabilities are recogDised wben the cfftkrity becomes a party io tbe cootracttthl provisiotts of the instrumellt. riJattii2] liabilities and equity itJStruniellt% are accordill8 to the subitsJKe vf the coutra￿tt￿l arrnn¥e.me.nis e.DIExr.d inf(1. An eqiiity insmimetsr is any that evideD¢tr a rtsidual itlteresi in the asse.r% nf the Charity after dethscung all of its liabJlities_ Page 10

First Asian Support Trust (FAST) Ltd Notes to the Financial Statements for tbe Year Ended 31 Mydrch 2022 Atl fllwicial assets and liabilities are initially mwured at rransaciioD price {includin8 transacuon costs). except for thosc financial assets clatsfftfied #s ai fair value througb wofit or loss. which are iDitiaily D)easured at fair value (whicb is nonD211y the transaction price excludin8 transaction costs). unless the arrangement cot]stilUtes a fillaDciDg tratssa¢tion. If an 8Tt8ngetnent constitutes a financing tr8nsactioD. the r]nancial asset or f￿ancial liabiliry is measured at the presetsi value of the future payznents discouDted at a market rate of itjterest for sitnilar debt ittstnllne Finartcial assets and liabilities are only offset in the st41ement of financial positiorh when. and only when there exists a legally enforceable right to Set off the retognised amounts and the charity hnten(Ls either to settle on a net basi5. or to reali5e the asset and settle the liability simultaneously. "Financial" assets are d¢reco8ni5ed" when aiid only whén" a) "the ¢on¢ra¢tiial righrs ID the cash"flovis from the financial asscl expire or are settled. b) the charity tt3Th5fers to another party substsntially all of the risks and rewards of owmership of tht financial asseL or c) the charity. dc5Pite havjng retained some. bul not all, si￿lficant risks and rewar&s of owjership. ha5 trdnsf¢ryed control of the assrt to another party. Financial liabilities ar¢ dere¢ognised ooly wh•) the obligation SF¢¢ifie4 in the ¢ontra¢t is di$¢harge￿ ¢artcelled or expires. Pagell

First Asian Support Trust (FAST) Ltd Iyotes to the Financial Statements for the Ye2r Ended 31 March 2022 Debt i1￿1T￿MeNts Debt instsu]netsts wh]"¢b mee¢ the followiD8 conditioDs are subsequendy me&sured at aTnorti5cd cost U5iDg the effective illterat method. {a) The contra¢nJal rett￿ll to the bolder is (i) a fixed ?￿OUn￿ (li) a positsV¢ f￿ed rate or a positive variable rate. or {iii) a combination of a positive ora Degative fixed nte aDd ap)sitJv¢ variable rdte. (b) The contract may WTrvide for tepaymeots ot tbe ptiocipal or the rett￿n to the bolder (but not both) to be linked io a single relevant obseThable index of gerteral pnce inflation of the currency in which the debt insinmient is denomina¢ed, provided s￿h IIT*s are not levernge (c).The conrract may provide for a deterrninable variaiion of the reDJrn to the holder during the life o! the Instnjment, provided thai (i) tlie new rdte satisfies condition {a} and the variation ss not conlingent on future evettts oiher than11) a change of a contrdctual variable ratc.. (21 io proittt the holder against credir deterioration of the issuer" 13) ehan8ts in levies applied by a centrdl bank or arisin8 from changes in Tclcvant t&xation or law,. or Iii) the new rate is a market raie of inicrcst and satisfies condition (a). (dl There is no contraelual provision that Coul￿ by its tvrn% result in the hol¢kr losing the principal aTnount or any iDterest attributsble to thc current period or priorperi￿s. (e) Contractual provisions that pennkt thc issuer ￿ prepay a debi Instru￿0¢ orpermit the bolder to put it back to the issuer kfore ￿ati￿rity are not ￿nti￿gettI on fiLtur¢ eventy other than to protect th¢ bolder agairtsi tbe ¢r¢th"t deterioration of the issuer or a ¢baDge in cotstrol of the issuer. or io protect the holder or issuer againsi ¢haD8¢S in levies applied by a centto] bank 01 atising from ¢haDges it) relevant taxaiion or law. (Q CorJtractsw] pmvisions ]Iiay pemiit the extrfjsiott of th¢ t¢Tm ofthe debt iDStrumen4 provided that the retum to the holder and any other contractt￿l provisions applicable th￿"nE the extended t¢rnl satisfy the conditions of paragraphs {a) io (c). Debt instnLments that are classified as payable or receivable within one ye4r on initial recognitiOTt and which meet the above condill¢)ns are mwured at the undi5counted amount of the cash or other coThsideration expected io be paid or received. net of lrnpdirn￿￿L With the exception of some hedging instruments. other debt iN(n]l￿ts Iiot meeting these ¢onditkons a measured at fair value through profit or loss. CornmitmeDts to and receive loans whicb ￿￿¢1 the ¢onditiOnS meotiotied above are meaSU￿d ai ¢ost (which may be nil) less irnpainnent. IRveslments Irtvestments in non-convertible preferenee 5h8rts and non-puttable ordinary or preference shares {where shares are publicly traded or their fair value is reliably mcasurable) are measured at fair value through profit or loss. Whert fair value ca]mot be mt&sured reliably, investments are me&sured at CO￿ less impairnent. Investmcnts in subsidiaries and associates are meosured at cos¢ Icss irnpainnent. For inv&%knents in subsidiaries acquired for consideratson i[KlUdu￿ tbe issue of shares qualifyitlg for mer8er relief, c05t 15 rneasured by reference to tht nominal Ydluc of the shares issued plus fair value of otkn consideratioth. Any prcmium is I8￿Ored. Page 12

First Asian Support Trust (FAST) Ltd otes to the Financial StatemeDts for the Year Ended 31 March 2022 D¢riv4tivefiNon¢i4liA$iruJAénts The charity uses derivative f￿anCIal iustrum¢Dts ￿ reduce ¢xposuJr to foreign rx¢ballge Tisk and interest rnte movernents. Th¢ ¢harity does not hold or Iss￿ deTivative fiuanciai itiStruTDents for speculative purposes. Derivatives are initially rtcognised at fair value at the dale a deTivative ¢00ts3¢t is entered itito and are 5ub5e4iiently remeasuted ¢0 their fair value * ea¢b reportin8 dale. Tbe resulting gaill or loss is re¢ogtiised in statement of fmllciai aciivities immedtatrly ullless the d¢rivaiive is designated alld ¢ffecuve as a bedguJg instrumenL in tvellt tbe timing of the iecoEtiitsOD iti Statemeot of fioancial a¢uv&iies depe[￿ on th¢ nature of the hedge relationship. Fair .The kst evidcnce.of fair valuc is a quoted.pricc for a￿ identi¢ai asset in an a¢tiv¢ nwkd. Whell quoted pn¢es. art unavailablc, the price of a ￿¢¢[11 transaclion for an identical asset provides evidenc¢ of fair value as long as tbere has not been a sig[LifL￿nt changr LD econornic cirauns¢ances or a sigllifi¢auL lapse of litne 5iDce the transa¢tioD look place. Jf the Ma￿¢t is not a¢tive and r¢¢¢nt trattsactiODS of an identical &sset on their ov/n are not a good estimate of fair value. the fw value is estits)ated by usiti8 a valuatiots Le¢hE￿qUe. 3 Income from dDDation5 #nd leg#eies Unrestricted funds General Total funds IN)nations and lega¢ies' Donations 158 158 Total for 2022 58 158 Total for 2021 46 46 4 1D¢ome from ¢haYitAbl¢ Activities Restritted funds Totsl 2022 Comtnunity grant MCC 11,941 8.000 11.941 8,000 19,941 Restricted fund5 19,941 Total 2021 Community grant MCC 14.317 11,240 25,557 14,317 1.240 25,557 Page 13

First Asian Support Trust (FAST) Ltd Notes to the Financial Statements for the Year Ended 31 March 2022 5 J*eome from other trxding ￿tiVitieS Unrestricttd funds General Totxl funds Events income.. Other events irtcome 16,044 16,044 Total for 2022 16,044 L6,044 Tot41 for 2021 16,6 16,600 6 Other inc(•me Unrestritted funds General Total 2022 Total 2021 Rental intome 490 490 2.520 Page 14

First Asign Support Trust (FAST) Ltd Note5 to the Fittancial Ststements for the Year Ended 31 March 2022 7 Expendithre on ¢hAritsble 8etivities Unresiricted funds G¢ntrAI Totxl f￿ndS Note Governance costs 47.845 47,845 Tot*l for 2021 48,961 48,961 Total expeDditure In addition to the expeDdiDJre an3lysed above. thert we also govem8n¢e ￿$ts of £47.845 (2021 - £48,961) wbicb relate directly to charitable auivities. See nots 8 for fiwther derails. Analysls of gov¢Ynan£e And support t05ts Governlmce Costs Unrestricted funds General Total fund5 Accountancy fces Ftts paid to accountants Consultancy fees DepreciatjOD, amortis2tiOD and other similar Costs Other governance costs 1.400 450 3.392 42.603 1.400 450 3.392 42.603 Total for 2022 47.845 47.845 Total for 2021 48.961 48.961 Page 15

First Asian Support Trust IFAST) Ltd Noles to the Financi21 Ststements for the Year Ended 31 March 2022 9 Taxatioo The charity is a registered clwity and is therefore exempt from tsxiOn. 10 Tangible fixed assets Furniture and equipment Total C05t Al l April-2021 At 31 March 2022 65,330 Depreciatiort At I ApTiI 2021 Charge for the year 48,372 3,392 48.372 3,392 At 31 March 2022 51.764 51,764 r4¢l book vaIue At 31 March 2022 13,566 13,566 At 3 I Mar¢b 2021 16,958 16.958 11 Cash and cash equivalents 2022 2021 Casb at baDk 4.285 8,045 12 Creditors." amounts flliDg due within one year 2022 2021 Trade ereditors Trustees curr¢nt atsowits Other creditors Attruals 841 12.445 15,945 3,200 20.546 16.486 Page 16

First Asian Support Trust (FAST) Ltd Noto% to the Financial Statements for the Year Ended 31 March 2022 13 Funds Balance xt i April 2021 tneomiDg resources Resources expended Balance at31 March 2022 UDrestritted futtds Geoeral 1.634 16,692 (47.845) (29,519) Restricted funds 6.883 19,941. Totsl funds 8.511 47,845 2,695 BalaDee at I April 2020 Incoming Re50ur¢es expendtd Balauee at 31 Marth 2021 UDfestrieted funds 31,429 19.166 (48.961) 1.634 Restricted fll￿d$ TO￿ funds 48.961 8.517 14 Auslysis of net ass¢ts betweeu ilnrutrleted funds Ctneri Totsl funds at 31 Mxrch 2(122 Tangible fixed assets Current &rysets Current liabilitses 13J66 4.285 20.54 13,566 4.285 0.546 Totsl uet assets 1695 (2.695 Unre5tiicted funds General Tot1 funds at 31 March 2021 Tall￿ble &xEd •￿ets Cutreot ￿Sets Current liabiliti&s 16,958 8.045 16.486 1&958 8,045 {l6,486 Total net ￿ets 8,517 8.517 Page 17