IF charity Report and Financial Statements for the Year Ended 31 December 2024 Charity No: 1095626
IF CHARITY (Reglstered Charity No. 10956261". ANNUAL REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Contents Page Legal and administrative information Report of the Trustees Independent auditorfs report io Statement of financial activities 14 Balance sheet 15 Statement of cash flows 16 Notes forming part of the financial statements 17
IF CHARifi (Reglstered Charfty No. 10956261: ANNUAL REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2024 Legal and Administrative Information Trustees Mr Abdessamed El Haouari Mr Sohidul Choudhury Mr Omar Kachouh Chalrman Mr Abdessamed El Haouari Correspondence address Unit 1, 29 Henley Street Birmingham BII IJB Independent Auditors M Akram & Co. Chartered Accountants 413 Lea Bridge Road London EIO 7EA
IF CHARifi (Reglstered Charity No. 10956261: ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report along with the financial statements of the charity for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out on page 17-19 and fully comply with the charity's trust deed and applicable law. Trustees, Statement During the years of 2024 and 2025 we have all witnessed the near-total destruction of Gaza. Israel's relentless war against Gaza has resulted in an unprecedented humanitarian catastrophe, According to United Nations and humanitarian agency reports and estimates, at a minimum, more than 60,000 Palestinians, including over 18,000 children, have been killed, and more than 169,000 injured. Over 90% of Gaza's buildings have been damaged or destroyed, leaving millions displaced and entire neighbourhoods erased. The humanitarian impact is staggering. Famine was confirmed in August 2025, with over half a million people facing starvation and nearly all households lack access to clean water or adequate sanitation. Only 14 of 36 hospitals remain partially functional, and trauma, malnutrition, and disease are widespread among children and the elderly. Throughout 2024, we continued to deliver essential relief, food, water, hygiene kits and shelter in the face of immense danger and logistical blockade. Yet humanitarian action alone cannot heal the scale of loss or restore dignity to those who have endured such destruction. We renew our call for an immediate end to the war, unrestricted humanitarian access, and protection for civilians under international law. The people of Gaza desep4e peace, justice, and the opportunity to rebuild their lives. On behalf of our trustees, staff, and partners, we extend profound gratitude to our donors and supporters. Your compassion has sustained lives and hope amid overwhelming tragedy. Or anlsatlon and Ob'ectives Organisation 'IF' is a British charity (Registered Charity No. 10956261 constituted under a trust deed dated 20 February 2002, as amended by a supplemental deed dated 20 December 2002. The trustees who have served during the year are set out on page 3. Trustees are appointed by a resolution of the trustees at a special meeting. The trustees meet as and when required to discuss the business of the charity. Objectives of the Charity The objects of the charity are the provision of general charitable welfare services such as poverty relief, promotion of education, empowerment of the local community and support for medical aid.
IF CHARITY IReg15tered Charity No. 10956261: ANNUAL REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Since 2009, the charitvs main area of activity has been the Gaza Strip; this followed the 2008-2009 military assault on Gaza that resulted in the ongoing humanita rian cris1S. Areas of Work IF Charity has a robust system of aid delivery set up to ensure the following humanitarian programmes could be safely and successfully implemented in the field: Gaza Relief Programme: This programme aims to address poverty alleviation and includes the provision of food aid, shelter, financial support and emergency aid. It also include5 all projects related to seasonal Ramadan and Eid Al Adha programmes. Gaza Medical Fund: With the health sector in Gaza struggling to cope, this fund works to support better healthcare and ensure access to medical care for the vulnerable. Gaza Education Projects: With the majority of Gaza's population under the age of 18 years old, this section of IF Charity's work relates to addressing educational needs and improving educational institutions. Community Support Programme: This category addresses long-term support for the community in Gaza, including empowerment and capacity building. Projects include job creation, providing access to clean water for those in need and supporting local NGOS. erations The charity's primary mission in Gaza is to provide emergency humanitarian aid to a population in severe crisi5, focusing on life-saving services such as food distribution, medical support, clean water access, and shelter. The charity focuses heavily on distributing food as 90% of Gaza's population faces food insecurity, with many families relying on limited rations. The charity works with international partners to deliver essential supplies, but logistics have been severely disrupted by the blockade and destruction of key infrastructure. In order to facilitate effective project delivery, funds are transferred on a regular basis to trust partners. Once received, the implementation of projects continued in line with our objects. The trustees reasse55ed the need on the ground and responded diligently to the aid that was required focusing on food aid distribution. Public Beneflt The trustees confirm they have given due consideration to public benefit and have complied with the Charities Act 2011 in this regard. Risk Management The trustees are aware of the risks associated with working in a politically sensitive area. As such, the charity has adopted the stringent due diligence and risk management processes that ensure robust compliance processes are in place. The trustees are confident these satisfy als regulatory authorities and their legal duties. The trustees also adhere to safeguarding practices and have safeguarding
IF CHARITY (Reglstered Charlty No. 1095626): ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 policies in place. Regulations related to GDPR, anti-theft & money laundering and data protection are also followed by the charity in line with good governance. Revlew of Activities and Achievements in 2024 During the year ended 31 December 2024, the charity disbursed a total of £1,864,405 in the field to deliver humanitarian assistance and livelihood support, primarily to internally displaced populations (IDPs} in Gaza. In response to the severe humanitarian crisis arising from the war, the charity's activities focused on two principal funds- Gaza Relief Programme Community Support Programme Gaza Relief Programme Total expenditure under this programme amounted to £1,547,650, primarily directed towards child sponsorships and theirfamilies. These grants supported children and their families, providing financial assistance to purchase food, clothing, and essential items. Thi5 SUPPOrt was Vital in mitigating the economic hardship faced by families affected by the destruction of homes, loss of livelihoods, and the collapse of essential infrastructure. Food and Nutrition A551Stonce To address acute food shortages among displaced families in southern Gaza, £4,946 was spent on the packaging and distribution of food parcels. These parcels ensured access to essential nutrition and reduced the risk of hunger among IDPS. In addition, £4,464 was allocated to the distribution of vegetable baskets to promote healthy nutrition among children, the elderly, and vulnerable families. These baskets provided a variety of fresh produce during a period when nutritious food was scarce and unaffordable. Ramodon ond Qurboni 2024 As part of the Gaza Relief Programme, the charity implemented emergency Ramadan distributions benefiting 3,353 families. A total of 2,338 familie5 received comprehensive food parcels, and a further 1,015 families received vegetable baskets containing essential fresh produce, including tomatoes, eggplants, cucumbers, lemons, peppers, and onions. In total, approximately 16,765 individuals benefited from Ramadan assistance, alleviating severe food insecurity and providing relief to families facing extreme economic hardship. As part of the Eid-al-Adha campaign we allocated £97,814 for the performing of Qurbani and the delivery of canned meat in Gaza. Safe Woter In 2024, the charity allocated £54,776 towards the provision of clean fresh waterto displaced persons and vulnerable families to support hygiene, health and disease prevention in Deir Al Balah, central Gaza.
IF CHARITY (Registered Charity No. 10956261: ANNUAL REPORT AND FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 DECEMBER 2024 Community Support Programme Under this programme, a total of £316,755 was expended to promote long-term livelihood development and community resilience. Activities included capacity-building and job creation initiatives designed to generate sustainable employment opportunities and strengthen the local economy. Fundraising Artivlties In the Unlted Klngdom In the United Kingdom, IF Charity has strategically focused its fundraising efforts on digital platforms, including its official website and various online fundraising tools. These initiatives have been complemented by community engagement activities and local collection efforts. In line with its commitment to operational efficiency, the Board of Trustees has resolved to reduce the handling of cash donations. This approach is intended to minimise administrative overheads and enable the charity to concentrate its resources on developing and enhancing modern fundraising methods. This policy remains subject to ongoing review by the Trustees to ensure Its continued relevance and effectiveness. External Factors Affectln Achievement The ongoing war in Gaza continues to produce challenges and complexity in the delivery of aid. The escalation endangers the whole region and plunges it into a long and protracted war. The lack of availability and cost of essential goods continues to increase therefore reducing the purchasing power of the charity. The escalating conflict has led to higher costs for goods, service5, and transportation, putting pressure on charities to stretch their budgets further in an unstable economic environment. Charities operating in Gaza have to navigate a complex legal framework to ensure compliance with anti-terrorism financing laws, which poses significant operational and reputational risks. External audits and regulatory checks may be complicated or delayed, increasing the risk of non-compliance or loss of donor confidence. Anti-Palestinian organisations continue to conduct a troubling campa ign of intimidation aga inst NGOS operating in the occupied territories, negatively impacting their services and reputation. Consequently, the trustees remain dedicated to collaborating with relevant authorities and profes5iona15 while upholding high standards of governance and due diligence to protect the charity's mission.
IF CHARITY (Registered CharTrty No. 10956261: ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Plans for the Future.. In the context of the continuing catastrophic humanitarian disaster in Gaza resulting from the ongoing war, the trustees are committed to do all that is required to ensure effective response and sound delivery of aid to the people there. In the coming period the trustees will focus on: l. Adaptlng and securing the grovrth of the charity 2. Increasing the delivery of aid to Gaza 3. Expanding our reach and donor base 4. Maintaining and enhancing good governance policies and processes Flnanclal revlew During the year, the charity received a total income of £2,997,09312023: £2,648,923). Of the total funds received, £838,832 of the funds was restricted and £2,158,261 was received as unrestricted funds. The total funds expended amounted to £2,158,664 (2023: £2,088,464). This includes the sum of £1,864,405 {2023: £1,872,361) expended on charitable activities, representing 86% of the total expenditure. A total amount of £1,547,650 was expended for the Gaza Relief Programme (which is 83% of charitable spending) and £316,755 {17% of total charitable spending) for the Community Support Programme. The cost of raising funds amounted to £294,25912023: £216,103), which is IO% of the total Income. The total amount carried for¥vard to be expended in the following year as part of the restricted funds amounted to £632,602. The unrestricted amount carried forward amounted to £1,822,348. The trustees have reviewed the financial position and are committed to continuingthe positive growth of the charity. Reserves Policy The trustees have established a policy whereby the unrestricted funds not committed or invested are maintained at a level that allows the charity to operate as a going concern for at least one year. The actual unrestricted reserves carried forward for the year amounted to £1,822,348, which is sufficient for the purpose of covering operational costs and planned charitable expenditure. Going Concern The trustees consider that there are no material uncertainties about the Trusys ability to continue as a going concern. This assessment has been made on the basis of the review of the financial position and the operational risks. The trustees are satisfied that the financial position of the charity is sound with the appropriate safeguards in place.
IF CHARITY IReg15tered Charity No. 1095626): ANNUAL REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of trustees. responsibilities in relation to financial statements The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustee5 to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP; make judgements and accounting estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statement5 comply with the Charities Act 2011. the Charity {Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charitvs website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Disclosure of Information to Auditors The trustees confirm that as far as they are aware, there is no relevant audit information of which the charitvs auditors are unaware. Each of the trustees has confirmed that they have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditors. Approved by the trustees and signed on its behalf by: Abdessamed El Haouari - Trustee Date: 30.10.2025
IF CHARITY (Reglstered Charlty No. 10956261: ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF IF CHARITY Opinion We have audited the financial statements of IF Charity {"the Charit¢'l for the year ended 31" December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the Charity's affairs as at 31, December 2024, and of its incoming resources and application of resources for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI (ISAS {UKI) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the Cha rity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Cha rity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not 10
IF CHARITY {Registered Charity No. 10956261: ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in thi5 regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires u5 to report to you if, in our opinion: the information given in the trustees, report is inconsistent in any material respect with the financial statements; or sufficient accounting records have not been kept; or the financial statement5 are not in agreement with the accounting records and returns; or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement set out on page 9, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operation5, or have no realistic alternative but to do so. Auditorfs responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a Euarantee that an audit conducted in accordance with ISAS (UK) will always detett a material misstatement when it exists.
IF CHARITY (Reglstered Charity No. 1095626}: ANNUAL REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER ZOZ4 Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: The extent to which the oudit was considered ca able o detertin irre ularities includin raud Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: We enquired of the management, which included obtaining and reviewing supporting documentation, concerning the Charity's policies and procedures relating to: Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance; Detecting and responding to the risk5 of fraud and whether they have knowledge of any actual, suspected or alleged fraud; o The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations. We identified the laws and regulations applicable to the Charity through discussions with the management, and from our commercial knowledge and experience of the Charity sector, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operation5 of the Charity. We ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations. We inspected the minutes of meetings of the Board of Trustees. We reviewed any reports made to the Charity Commission. We inquired of management of any complaints raised by donors, beneficiaries, representatives in the UK and in the areas of operation abroad. We agreed the financial statement disclosures to underlying supporting documentation. We performed analytical procedures to identify any unusual or unexpected relationshipsthat may indicate risks of material misstatement due to fraud. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments to identify unusual transactions and investigated significant transactions that are unusual or those outside the normal course of business. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material mi5Statement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, a5 we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 12
IF CHARITY (Reglstered Char5ty No. 10956261: ANNUAL REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: wivw.frc.or audiLorsres onsibilities. This description forms part of our auditorf5 report. Use of our report This report is made solely to the Chariws trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity's trustees those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the ChariWs trustees as a body, for our audit work, for this report, or for the opinions we have formed. M Akram & Co {Statutory Auditor) 413 Lea Bridge Road London EIO 7EA Date: 9& -TD 2QJJ M Akram & Co is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment a5 auditor of a company under section 1212 of the Companies Act 2006. 13
IF CHARITY (Registered Charity No. 10956261: ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2024 Statement of Financial Artivities for the Year Ended 31 December 2024 2024 Total Funds 2023 Total Funds Unrestricted Funds Restricted Funds Notes Income from: Donations and grant5 Total income 2,158,261 838.832 2.997.093 2,648,923 2.158.261 838,832 2,997,093 2,648,923 Expenditure on: Charitable activities Raising funds 1.242,362 294,259 622,043 1,864,405 294,259 1,872,361 216,103 Total expenditure 1,536,621 622,043 2,158,664 2,088,464 Net income 621,640 216,789 838,429 560,459 Reconciliation of funds: Total funds brought forward 1,200,708 415,813 1,616,521 1,056,062 Total funds carried foward 1,822,348 632.602 2,454,950 1,616,521 There are no recognised gains and losses other than those passing through the Statement of Financial Activitie5. All income and expenditure is derived from continuing activities. The notes on pages 17-26 form an integral part of these financial statements. 14
IF CHARITY (Reglstered Charlty No. 1095626): ANNUAL REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Balance Sheet as at 31 December 2024 Notes 2024 2024 2023 2023 Flxed Assets Tangible Assets 4,504 1,414 Current Assets Debtors Cash at bank and in hand 783,355 1,692,480 2,475,835 496,908 1,154,284 1,651,192 Creditors: amounts falllng due withln one year (25,389) (36,085) Net Current Assets 2,450,446 1,615,107 Net Assets 2,454,950 1,616,521 Funds Restricted io 632,602 1,822,348 415,813 1,200,708 Unrestricted li Total Funds 2,454,950 1,616,521 These financial statements were approved by the Board of Trustees and signed on their behalf by: Abdessamed El Haouari Trustee Date: 30.10.2025 15
IF CHARifi {Xeglstered Charlty No. 10956261". ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of Cash Flows for the Year Ended 31 December 2024 Notes 2024 2023 Net cash provided by operating activities 13 542,947 360,363 Cash flows from investlng activities: Purchase of fixed assets 14,751) 14991 Net cash used in investing activities 14,751) 14991 Change in cash and cash equivalents in the year 538,196 359,864 Cash and cash equivalents brought forward 1,154,284 794,420 Cash and cash equlvalents carrled forward 14 1,692,480 1,154,284 16
IF CHARITY IRe8lstered Charlty No. 10956261: ANNUAL REPORT AND FINANCIALSTATEMENT5 FOR THE YEAR ENDED 31 DECEMBER 2024 Notes forming part of the financlal statements for the year ended 31 December 2024 l. Accountlng Policies The principal accounting policies, all of which have been applied consistently throughout the year, are set out below. a) Basis of preparation The financial statements have been prepared under the historical cost convention and in accordance with 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 1021- (Charities SORP FRS 102) (as updated through second edition October 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Charities Act 2011. b) Public beneflt entity The charity constitutes a public benefit entity as defined by FRS 102. c} Golng concern The trustees consider that there are no material uncertainties about the TrusV5 ability to continue as a going concern. d) Fund accounting Funds held by the Charity are: Unrestricted funds These are funds which can be used in accordance with charitable objectives at the discretion of the trustees. Restricted funds- These are funds that can only be used for particular restricted purposes within the objectives of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular purposes. e) Income recognltlon All income is recognised once the charity has an entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donations and grants are recognised in the period in which the charity is entitled to receipts where the amount can be measured reliably. The income from charitable and fundraisin8 activities are shown gross with the associated costs included in the expenditure. Gifts in kind such as fixed assets donated to the charity are included as donations at the value to the charity where this can be quantified. Donated facilitie5 and 5eNices are included at value to the charity where it can be quantified and a third party is bearing the cost. 17
IF CHARITY IReElstered Charlty No. 1095626): ANNUAL REPORT AND FINANCIAL STATEMENTS FOA THE YEAR ENDED 31 DECEMBER 2024 Notes forming part of the financial statements forthe year ended 31 December 2024 Icont.) Investment profits on funds held on deposit5 are included when receivable and the amount can be measured reliably by the charity; this is normally upon the notification of the profit paid by the bank. fj Volunteers The value of the time and sep4ices provided by volunteers is not incorporated into these financial statements in accordance with the Charities SORP FRS 102. g) Expenditure recognition Expenditure is recognised as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on accrual basis. Funds expended are allocated to the particular activity where the cost relates directly to that activity. However, the indirect and overhead costs of the central function including the operational and support costs have been apportioned to the charitable and fundraising activities in proportion to the direct expenditure incurred. Expenditure incurred on raising funds relates to the costs expended on attracting donations and other fundraising costs including printing, mailing and donation processing charges. Charitable expenditure comprises of those costs incurred by the charity in the delivery of its aid programme for its beneficiaries. It includes both costs that can be allocated directly to such activities and those c05tsof an indirect nature necessary to support them. h) Tangible fixed assets Tangible fixed assets Costing more than £100 are capitalised and included at cost, including any incidental expenses of acquisition. Depreciation is provided, after taking account of any grants receivable, at rates calculated to write off the cost or valuation of each a55et to its estimated residual value on a reducing balance basis over the expected useful life, as follows: Fixtures, fittings and equipment 25% per annum on reducing balance basis 18
IF CHARITY (Registered Charity No. 1095626): ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Notes forming part of the financlal statements for the year ended 31 December 2024 (cont.) i) Taxation As a registered charity there is no liability to tax. Irrecoverable VAT is not separately analysed and is charged to the statement of financial activities when the expenditure to which it related is incurred and is allocated as part of the expenditure to which it relates. j) Foreign currencies Transactions in foreign currencies are translated at the rate of exchange prevailing at the time of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange prevailing at the Balance Sheet date. All difference5 are taken to the Statement of Financial Activities. k) Debtors Trade and other debtors are recogni5ed at the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid net of any trade discounts due. l) Cash at bank and in hand Cash at bank and cash in hand include5 cash and Short term highly liquid investment5 With a Short maturity of three months or le55 from the date of acquisition or opening of the deposit or similar account. m) Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a p35t event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. n) Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. o) Pension costs The charity operates a defined contribution pension scheme. Contributionsto the scheme are charged to the statement of financial activities for the period to which they relate to. p) Operating leases Rentals under operating leases are charged to the statement of financial activities on a straight line basis over the term of the lease. 19
IF CHARITY (Reglstered Charity No. 1095626): ANNUAL REPORT AND FINANCIALsfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Notes forming part of the financial statements for the year ended 31 December 2024 (cont.) 2. Key judgements and estimation uncertainty The Trustees do not consider that there are any significant judgements and sources of estimation uncertainty at the reporting date. 3. Income from donations and grants Unrestricted Funds Restrirted Funds Total 2024 Total 2023 Donations & legacie5 2,158,261 838,832 2,997,093 2,648,923 2,158,261 838,832 2.997,093 2,648,923 4. Expenditure on charitable activities Unrestricted Funds Restricted Funds Total 2024 Total 2023 Gaza Relief Programme Gaza Medical Fund 959,895 587,755 1,$47,650 1,442,290 77,764 Community Support Programme 282.467 34,288 316,755 352,307 1.242.362 622,043 1,864,405 1,872,361 Delivery to the end beneficiaries is carried out under the control of the charity and monitored by professionals in line with the charitws policies and due diligence procedures. 20
IF CHARITY (Registered Charity No. 10956261.. ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Notes forming part of the financial statements for the year ended 31 December 2024 (cont.) 5. Expenditure on raising funds Unrestricted Funds Restricted Funds Total 2024 Total 2023 Donation processing charge5 Fundraising and events Printing and advertising Operational and support cost allocation 27,351 27,351 26,719 2,516 159,211 2,516 2,118 159,211 109,587 105,181 105,181 77,679 294,259 294,259 216,103 21
IF CHARITY (Reglstered Charity No. 1095626): ANNUAL REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Notes forming part of the financial statements forthe year ended 31 December 2024 (cont.) 6. Operational and support costs Unrestrirted Funds Restricted Funds Total 2024 Total 2023 IT and related seniices 25,148 25,148 18,181 Outsourced support services Depreciation Accountancy fees Audit fees 18,926 1,445 8,200 18,926 12,170 1,445 471 8,200 9,200 12,200 9,200 7,800 Premises rent and other related costs 76,269 4,630 314,338 18,098 76,269 59,331 3,813 Telephone Wages and Salaries Employer Nl Pension costs 4,630 314,338 18,098 3,881 301,531 15,936 2,999 3,881 Project support costs Motor and Travel expenses Bank Charges Other legal and professional fees Exchange loss Trustees travel costs 2,614 4,087 4,087 3,388 492 519 519 14,642 14,642 3,923 48,319 48,319 52,468 1,338 1,338 Loss on disposal of fixed assets 216 216 549,256 549,256 497,317 Staff numbers The average number of employees during the year was as follows: 2024 No. 2023 No. Marketing and Fundraising Management and Admin Support li li 13 13 22
IF CHARITY (Registered Charfty No. 10956261: ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Notes forming part of the financial statements forthe year ended 31 December 20241cont. During the year no employees had emoluments over £60,C(10 {2023- None}. Total employee benefits including remuneration and pension contributions costs payable to the key management personnel for the year were £30,1X)012023-£30,000). This represents costs payable for the Fundraising Department Manager. Allocation of Operational and Support Costs These charitable operations and support Costs refer to funds expended to deliver aid programmes and fulfil the objectives of the charity. These include central function costs and have been apportioned to unrestricted charitable and fundraising activities in proportion to the direct unrestricted expenditure incurred. 7. Tangible Fixed Assets Fixtures, Fittings & Equipment Cost At ljanuary 2024 Additions 5,308 4,751 14291 Disposals At 31 December 2024 9,630 Depreciation At l January 2024 3,894 1,445 (2 13) Charge for the year Disposal At 31 December 2024 5,126 Net book value At 31 December 2024 4.504 1.414 At 31 December 2023 23
IF CHARITY IRegi5tered Charlty No. 10956261: ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER ZOZ4 Notes forming part of the financial statements forthe year ended 31 December 2024 (cont.) 8. Debtors 2024 2023 Project Funds Other debtors 745,718 37,637 413,547 83,361 783.355 496,908 Project funds are funds which have been received in the field for aid projects to be completed in the coming period as specified by the trustees in line with the usual process. 9. Creditors- amounts falling due within one year 2024 2023 Other creditors Accruals 6,689 18,700 8,285 27,800 25,389 36,085 10. Restricted Funds Balance at I January 2024 Incoming Funds Outgoing Funds Balance at 31 December 2024 Gaza Relief Programme Gaza Medical Fund 144.743 822,055 587,755 379,043 2,824 2,824 Gaza Education Projects Community Support Programme 249,695 249,695 18,551 16,777 34,288 1,040 415.813 838,832 622,043 632,602 24
IF CHARITY (Reglstered Charlty No. 1095626): ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Notes forming part of the financial statements for the year ended 31 December 20241cont.) 11. Unrestricted Funds General Funds Balance at l January 2024 Net income 1,200,708 621,640 Balance at 31 December 2024 1,822,348 12. Analysls of Net Assets between Funds Unrestricted Funds Restricted Funds Balance at 31 December 2024 Fund balances at 31 December 2024 are represented by: Fixed assets 4,504 4,504 Current assets 1.843,233 632,602 2,475,835 (25,389) Current liabilities {25,389) Total net assets 1822 348 632 602 2 454 950 13. Reconciliation of Net Income to Net Cash Flow from Operating Activltles 2024 2023 Net income for the reporting period Depreciation 838,429 560,459 1,445 471 Increase in debtors (286,4471 (10,696) 1210,7161 IDecreasel/lncrease in creditors 10,149 Loss on disposal of fixed a55et 216 Net cash provided by operating activities 542,947 360,363 25
IF CHARITY (Registered Charlty No. 10956261: ANNUAL REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Notes forming part of the financial statements forthe year ended 31 December 2024 (cont.) 14. Analysis of Cash and Cash Equivalents Atl Cash flows At31 January 2024 December 2024 Cash at bank and in hand 1,154,284 538,196 1,692,480 Total cash and cash equivalents 1,154,284 538,196 1,692,480 15. Operating Lease commitments The Charity's total future minimum lease payments under non-cancellable operating leases are as follow: Office lease 2024 2023 Less than one year Two to five years 29,050 41,800 33,180 56,000 70,850 89,180 16. Related Party Transartions and Trustees Remuneration The trustees received no remuneration during 202412023 nil). During the year £1,33812023 nil) was incurred for trustees, travel costs. There were no other related party transactions. 26