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
#301

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 Registr*tiott 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
MaoctLes*r
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-ra*itt8s 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]s*es' 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 ¢b*itable 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 {li*bilitit$jlAsset$
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 St*lus
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¢5eD*4 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 alloca*d 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.
Tu*don
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 ￿$[ wth the difference berween the PTo¢eeds, rtet of
transaction costs, and the amouni due on redemption being recognised as a charge to the Sfa*ment of Financial
Activities over the period of tht relevant borrowing.
Lntcresl cxpensc is reCo￿lS¢d on the basis of the effective iiiteresi method and is inclllded in interest payable
atld similar chargfs.
Borrowings are C[￿7ficd as ¢urrtnt liabilities unless the charity has an unconditional right to d¢fer scttlcment of
the liability for at Icast twelve months after the reporting date.
Fund structure
Urjtestricted iocome are general fijnds that ar¢ available for ￿ at the tn￿et$ 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 tsx*iOn.
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 f*lliDg 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
Ctner*i
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
Tot*1 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