Docusign Envelope ID: 2E97D054-61E2-4511-A289-7A223766ED7F **Charity registration number 1098822** ## **ORISON CHARITABLE TRUST** **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** Docusign Envelope ID: 2E97D054-61E2-4511-A289-7A223766ED7F ## **ORISON CHARITABLE TRUST** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Mr M M Hemani| |---|---| ||Mr T Kanji| ||Mr M M A Mohamed| |**Charity number**|1098822| |**Registered office**|17 Grassmoor Road| ||Birmigham| ||B38 8BX| |**Auditor**|Deitch Cooper LLP| ||3 Hobbs House| ||Harrovian Business Village| ||Bessborough Road| ||Harrow| ||Middlesex| ||HA1 3EX| |**Bankers**|CAF Bank| ||The Co-operative Bank Plc| Docusign Envelope ID: 2E97D054-61E2-4511-A289-7A223766ED7F ## **ORISON CHARITABLE TRUST** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 3| |Independent auditor's report|4 - 6| |Statement of financial activities|7| |Statement of financial position|8| |Statement of cash flows|9| |Notes to the financial statements|10 - 18| Docusign Envelope ID: 2E97D054-61E2-4511-A289-7A223766ED7F ## **ORISON CHARITABLE TRUST** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ The Trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). ## **Objectives and activities** The objects of the Charity are: - A. to advance the Shia Ithna-Asheri faith through tabligh, relief of poverty, education and medical assistance and economic uplifting projects - A. to assist Muslims in general and Shias in particular in propagating the true message of Islam - A. to provide full or partial assistance to needy students - A. to provide relief and help to the recipients who are less fortunate ## _Public benefit_ The Trustees have complied with their duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance issued by the Charity Commission. The Trustees have considered the general guidance on public benefit issued by the Charity Commission and in particular its supplementary guidance on the advancement of religion for the public benefit in deciding what activities the Charity should undertake. ## _Activities_ The Charity's principal activity is providing financial assistance to individuals and charitable projects that meet the charity's charitable objectives. In addition, the charity funds support services that help less fortunate members of the general public with non-financial help in areas such as counselling. ## _Volunteers_ The Trustees with to thank all volunteers who contribute to charitable activities on behalf of the charity. ## **Achievements and performance** The Trustees are happy with the achievements and performance of the charity during the period. Support services funding has grown and so has the amount of grants paid to poor and needy individuals. Causes that were supported by the charity this year included: - A. Support Community Centres in UK - B. Medical Assistance to the under privileged - C. Economic enhancement programs - D. Support and maintenance from ongoing projects - E. Ramadan Food Basket Programme - F. Training and CPD courses for volunteers and workers - G. Supporting Education and University Students in UK and abroad - 1 - Docusign Envelope ID: 2E97D054-61E2-4511-A289-7A223766ED7F ## **ORISON CHARITABLE TRUST** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **Financial review** The Charity's principal source of income was unrestricted voluntary donations. Income from donations amounted to £2,133,236 (2023: £1,840,912). Total expenditure on charitable activities amounted to £2,230,391 (2023: £1,721,459). The deficit for the year of £92,710 (2023: £120.053 surplus) has been covered by fund balances brought forward from previous years. All funds are unrestricted funds and can be used at the discretion of the Trustees for expenditure in future years. Total fund balances at 31 March 2024 amounted to £630,718 (2023: £723,428). The Trustees are happy with the financial position of the charity at 31 March 2024. ## _Reserves policy_ It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level in excess of expected support and governance costs. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. ## _Major risks_ The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Risks are reviewed on an ongoing basis. ## **Plans for future periods** Our plans for the future include continuing support for already accomplished projects as well as study potential of Tabligh and Education in other areas. ## **Structure, governance and management** The Charity is an unincorporated charitable trust governed by a declaration of trust dated 10th July 2003 and subsequent deeds of amendment. The Trustees who served during the year and up to the date of signature of the financial statements were: Mr M M Hemani Mr T Kanji Mr M M A Mohamed ## _Recruitment and appointment of trustees_ The recruitment and the appointment of the Trustees is governed by the Charity's declaration of trust. None of the Trustees has any beneficial interest in the Charity. ## _Organisational structure_ The Charity trustees are responsible for the general control and management of the Charity. The trustees give their time freely and receive no remuneration or other financial benefits. The trustees meet together as a body monthly and are responsible for all decisions taken in relation to running the Charity. - 2 - Docusign Envelope ID: 2E97D054-61E2-4511-A289-7A223766ED7F ## **ORISON CHARITABLE TRUST** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **Statement of Trustees' responsibilities** The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees 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 incoming resources and application of resources of the Charity for that year. 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 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 operation. The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements 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' report was approved by the Board of Trustees. Mr M M A Mohamed ## **Trustee** 30 January 2025 - 3 - Docusign Envelope ID: 2E97D054-61E2-4511-A289-7A223766ED7F ## **ORISON CHARITABLE TRUST** ## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ORISON CHARITABLE TRUST** ## **Opinion** We have audited the financial statements of Orison Charitable Trust (the ‘Charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows 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 March 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 (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the _Auditor's responsibilities for the audit of the financial statements_ section of our report. We are independent of the Charity 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 Charity’s ability to continue as a going concern for a period of at least twelve 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 auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and 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 this 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 require us to report to you if, in our opinion: - the information given in the financial statements is inconsistent in any material respect with the Trustees' report; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records; or - we have not received all the information and explanations we require for our audit. - 4 - Docusign Envelope ID: 2E97D054-61E2-4511-A289-7A223766ED7F ## **ORISON CHARITABLE TRUST** ## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ORISON CHARITABLE TRUST** ## **Responsibilities of Trustees** As explained more fully in the statement of Trustees' responsibilities, 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 cease operations, or have no realistic alternative but to do so. ## **Auditor's 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 auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. 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. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. 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 identified the laws and regulations applicable to the charity through discussions with management and from our knowledge and experience of the sector and activities of the charity; - we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Charities (Accounts and Reports) Regulations 2008 and the Charities Act 2011; - we assessed the extent of compliance with the laws and regulations identified through making enquiries of management and inspecting documentation; and - we identified laws and regulations which were communicated within the audit team and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the financial statements to material misstatements including obtaining an understanding of how fraud might occur by making enquiries of management and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls we performed the following procedures: - we performed analytical procedures to identify any unusual or unexpected relationships; - we assessed whether judgements and assumptions made in determining the accounting estimates set out in the accounting policies were indicative of potential bias; and - we investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations we designed procedures which included, but were not limited to, agreeing financial statement disclosures to underlying supporting documentation and remaining alert for actual and potential litigation and claims during our other audit procedures. We did not identify any key audit matters relating to irregularities, including fraud. - 5 - Docusign Envelope ID: 2E97D054-61E2-4511-A289-7A223766ED7F ## **ORISON CHARITABLE TRUST** ## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ORISON CHARITABLE TRUST** Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in audit procedures performed and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. Auditing standards also limit the audit procedures required to identify noncompliance with laws and regulations. A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. ## **Use of our report** This report is made solely to the company’s members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's 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 company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed. ## **Deitch Cooper LLP** 30 January 2025 **Accountants Statutory Auditor** 3 Hobbs House Harrovian Business Village Bessborough Road Harrow Middlesex HA1 3EX Deitch Cooper LLP is eligible for appointment as auditor of the Charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. - 6 - Docusign Envelope ID: 2E97D054-61E2-4511-A289-7A223766ED7F ## **ORISON CHARITABLE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2024**|**2023**| ||**Notes**|**£**|**£**| |**Income from:**|||| |Donations and legacies|**3**|2,133,236|1,840,912| |Investments|**4**|4,445|600| |**Total income**||2,137,681|1,841,512| |**Expenditure on:**|||| |Charitable activities|**7**|2,230,391|1,721,459| |**Total expenditure**||2,230,391|1,721,459| |**Net income/(expenditure) and movement in funds**||(92,710)|120,053| |**Reconciliation of funds:**|||| |Fund balances at 1 April 2023||723,428|603,375| |**Fund balances at 31 March 2024**||630,718|723,428| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 7 - Docusign Envelope ID: 2E97D054-61E2-4511-A289-7A223766ED7F ## **ORISON CHARITABLE TRUST** ## **STATEMENT OF FINANCIAL POSITION** ## _**AS AT 31 MARCH 2024**_ ||||**2024**|||**2023**|| |---|---|---|---|---|---|---|---| ||**Notes**|**£**||**£**|**£**||**£**| |**Fixed assets**|||||||| |Tangible assets|**12**|||343,583|||344,178| |**Current assets**|||||||| |Debtors|**13**|82,437|||66,709||| |Cash at bank and in hand||210,742|||321,803||| |||293,179|||388,512||| |**Creditors: amounts falling due within**|**14**||||||| |**one year**||(6,044)|||(9,262)||| |**Net current assets**||||287,135|||379,250| |**Total assets less current liabilities**||||630,718|||723,428| |**Net assets excluding pension liability**||||630,718|||723,428| |**The funds of the Charity**|||||||| |Unrestricted funds||||630,718|||723,428| |||||630,718|||723,428| The financial statements were approved by the Trustees on 30 January 2025 [fstSignedF714182D418848E...by: Molamed Mr M M A Mohamed **Trustee** - 8 - Docusign Envelope ID: 2E97D054-61E2-4511-A289-7A223766ED7F ## **ORISON CHARITABLE TRUST** ## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 MARCH 2024**_ |**Notes**
**Cash flows from operating activities**
Cash (absorbed by)/generated from
operations
**19**
**Investing activities**
Purchase of tangible fixed assets
Repayment of loans to third parties
New loans to third parties
Investment income received
**Net cash (used in)/generated from**
**investing activities**
**Net cash used in financing activities**
**Net (decrease)/increase in cash and cash**
**equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2024**
**£**
**£**
(106,306)
-
28,200
(37,400)
4,445
(4,755)
-
(111,061)
321,803
210,742|**2023**
**£**
(2,973)
56,000
(4,400)
600|**£**
124,574
49,227
-| |---|---|---|---| ||||173,801
148,002| ||||321,803| - 9 - Docusign Envelope ID: 2E97D054-61E2-4511-A289-7A223766ED7F ## **ORISON CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **1 Accounting policies** ## **Charity information** Orison Charitable Trust is an unincorporated UK registered charity, formed under a trust deed, registered charity number 1098822. The charity is a public benefit entity. The principal address of the charity is 17 Grassmoor Road, Birmingham, B38 8BX. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the Charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate bank balances and unrestricted funds to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity. ## **1.4 Income** Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 10 - Docusign Envelope ID: 2E97D054-61E2-4511-A289-7A223766ED7F ## **ORISON CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **1 Accounting policies** **(Continued)** ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. The Charity is not VAT registered so cannot reclaim VAT. All expenditure is inclusive of VAT where charged. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold land Not depreciated Computers 20% straight line basis Freehold land is not depreciated but is reviewed for indications of impairment on an annual basis, The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.7 Impairment of fixed assets** At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.9 Financial instruments** The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. - 11 - Docusign Envelope ID: 2E97D054-61E2-4511-A289-7A223766ED7F ## **ORISON CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **1 Accounting policies** ## **(Continued)** ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled. ## **1.10 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.11 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **2 Critical accounting estimates and judgements** In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. - 12 - Docusign Envelope ID: 2E97D054-61E2-4511-A289-7A223766ED7F ## **ORISON CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **3 Income from donations and legacies** |Donations and gifts
**Donations and gifts**
General Donations
Tabligh
Education
Relief
Religious Dues
Welfare
Gift Aid Receivable
**Income from investments**
Interest receivable
**Expenditure on charitable activities**
**Grants to**
**projects**
**2024**
**£**
**Direct costs**
Grant funding of activities
(see note 7)
2,077,433
**Share of support and governance costs**
Support
84,335
Governance
5,100
2,166,868
**Analysis by fund**
Unrestricted funds
2,166,868|**Support**
**services**
**2024**
**£**
63,523
**(see note 8)**
-
-
63,523
63,523|**Total**
**2024**
**£**
2,140,956
84,335
5,100
2,230,391
2,230,391|**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2024**
**2023**
**£**
**£**
2,133,236
1,840,912
279,632
770,968
118,230
29,998
218,808
36,124
416,723
457,442
392,298
353,055
619,659
102,858
87,886
90,468
2,133,236
1,840,912
**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2024**
**2023**
**£**
**£**
4,445
600
**Grants to**
**projects**
**Support**
**services**
**Total**
**2023**
**2023**
**2023**
**£**
**£**
**£**
1,634,796
7,565
1,642,361
74,838
-
74,838
4,260
-
4,260
1,713,894
7,565
1,721,459
1,713,894
7,565
1,721,459|**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2024**
**2023**
**£**
**£**
2,133,236
1,840,912
279,632
770,968
118,230
29,998
218,808
36,124
416,723
457,442
392,298
353,055
619,659
102,858
87,886
90,468
2,133,236
1,840,912
**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2024**
**2023**
**£**
**£**
4,445
600
**Grants to**
**projects**
**Support**
**services**
**Total**
**2023**
**2023**
**2023**
**£**
**£**
**£**
1,634,796
7,565
1,642,361
74,838
-
74,838
4,260
-
4,260
1,713,894
7,565
1,721,459
1,713,894
7,565
1,721,459| |---|---|---|---|---| |||||**Total**
**2023**
**£**
1,642,361
74,838
4,260| |||||1,721,459| |||||1,721,459| - **4 Income from investments** - **5 Expenditure on charitable activities** - 13 - Docusign Envelope ID: 2E97D054-61E2-4511-A289-7A223766ED7F ## **ORISON CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **6 Description of charitable activities** ## Grants to projects Grants to projects includes providing grants and financial assistance towards projects that are within the charitable objects of the Charity. This included Tableegh, relief of poverty, medical and educational support, and grants to needy individuals. ## Support services Support services includes a variety of services that provide non-financial assistance to needy individuals. ## **7 Grants payable** |Grant activities:
Tabligh
Education
Relief
Religious dues
Welfare
Support services
Grants to individuals|**Grants to**
**projects**
**2024**
**£**
445,676
99,033
138,837
317,156
543,298
-
1,544,000
533,433
2,077,433|**Support**
**services**
**2024**
**£**
-
-
-
-
-
63,523
63,523
-
63,523|**Total**
**2024**
**£**
445,676
99,033
138,837
317,156
543,298
63,523
1,607,523
533,433
2,140,956|**Grants to**
**projects**
**2023**
**£**
612,661
65,026
660,815
187,220
109,052
-
1,634,774
446,697
2,081,471|**Support**
**services**
**2023**
**£**
-
-
-
-
-
7,565
7,565
-
7,565|**Total**
**2023**
**£**
612,661
65,026
660,815
187,220
109,052
7,565| |---|---|---|---|---|---|---| |||||||1,642,339
446,697| |||||||2,089,036| ## **8 Support costs allocated to activities** |Staff costs
Depreciation
Bank charges
Telephone
Printing, postage and stationery
IT and computer costs
Light and heat
Travel
Professional fees
Governance costs
**Analysed between:**
Grants to projects|**2024**
**£**
52,379
595
2,635
860
396
2,245
6,308
18,422
495
5,100
89,435
89,435|**2023**
**£**
56,496
595
2,619
1,191
-
1,557
1,594
10,786
-
4,260| |---|---|---| |||79,098| |||79,098| - 14 - Docusign Envelope ID: 2E97D054-61E2-4511-A289-7A223766ED7F ## **ORISON CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ |**8**
**Support costs allocated to activities**
**Governance costs comprise:**
Audit fees|**(Continued)**
**2024**
**2023**
**£**
**£**
5,100
4,260
5,100
4,260|**(Continued)**
**2024**
**2023**
**£**
**£**
5,100
4,260
5,100
4,260| |---|---|---| |||4,260| All support costs and governance costs have been allocated to the grant to projects as any welfare support expenditure is treated as a direct cost. ## **9 Trustees** None of the Trustees received any remuneration or benefits from the Charity during the year (2023: £nil). No trustees claimed allowances or had their expenses met by the charity during the year (2023: £nil). During the year, a close family member of a trustee worked for the Charity as an employee on the payroll and received a market rate salary. ## **10 Employees** The average monthly number of employees during the year was: ||**2024**|**2023**| |---|---|---| ||**Number**|**Number**| ||4|5| |**Employment costs**|**2024**|**2023**| ||**£**|**£**| |Wages and salaries|52,221|56,496| |Other pension costs|158|-| ||52,379|56,496| There were no employees whose annual remuneration was more than £60,000. ## **11 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. - 15 - Docusign Envelope ID: 2E97D054-61E2-4511-A289-7A223766ED7F ## **ORISON CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ |**12**
**Tangible fixed assets**
**Freehold land**
**£**
**Cost**
At 1 April 2023
341,800
At 31 March 2024
341,800
**Depreciation and impairment**
At 1 April 2023
-
Depreciation charged in the year
-
At 31 March 2024
-
**Carrying amount**
At 31 March 2024
341,800
At 31 March 2023
341,800
**13**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Other debtors includes gift aid receivable from HMRC of £47,997 (2023: £41,469).
**14**
**Creditors: amounts falling due within one year**
Other taxation and social security
Other creditors
Accruals and deferred income
**15**
**Retirement benefit schemes**
**Defined contribution schemes**
Charge to profit or loss in respect of defined contribution schemes|**Computers**
**£**
2,973
2,973
595
595
1,190
1,783
2,378
**2024**
**£**
82,437
**2024**
**£**
911
-
5,133
6,044
**2024**
**£**
158|**Total**
**£**
344,773| |---|---|---| |||344,773| |||595
595| |||1,190| |||343,583| |||344,178| |||**2023**
**£**
66,709| |||**2023**
**£**
313
4,750
4,199| |||9,262| |||**2023**
**£**
-| The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund. - 16 - Docusign Envelope ID: 2E97D054-61E2-4511-A289-7A223766ED7F ## **ORISON CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **16 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include funds which have been set aside out of unrestricted funds by the trustees for specific purposes. |General funds
**Previous year:**
General funds
**Analysis of net assets between funds**
**At 31 March 2024:**
Tangible assets
Current assets/(liabilities)
**At 31 March 2023:**
Tangible assets
Current assets/(liabilities)|**At 1 April**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**At 31 March**
**2024**
**£**
**£**
**£**
**£**
723,428
2,137,681
(2,230,391)
630,718
**At 1 April**
**2022**
**Incoming**
**resources**
**Resources**
**expended**
**At 31 March**
**2023**
**£**
**£**
**£**
**£**
603,375
1,841,512
(1,721,459)
723,428
**Unrestricted**
**funds**
**2024**
**£**
343,583
287,135
630,718
**Unrestricted**
**funds**
**2023**
**£**
344,178
379,250
723,428| |---|---| ## **17 Analysis of net assets between funds** ## **18 Related party transactions** During the year donations amounting to £5,803 (2023: £nil) were received from trustees and their close family members. During the year donations amounting to £4,824 (2023: £nil) were received from private companies controlled by a trustee. - 17 - Docusign Envelope ID: 2E97D054-61E2-4511-A289-7A223766ED7F ## **ORISON CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ |**19**
**Cash generated from operations**
**2024**
**£**
(Deficit)/surpus for the year
(92,710)
Adjustments for:
Investment income recognised in statement of financial activities
(4,445)
Depreciation and impairment of tangible fixed assets
595
Movements in working capital:
(Increase) in debtors
(6,528)
(Decrease)/increase in creditors
(3,218)
**Cash (absorbed by)/generated from operations**
(106,306)|**2023**
**£**
120,053
(600)
595
(1,115)
5,641
124,574| |---|---| ## **20 Analysis of changes in net funds** The Charity had no material debt during the year. - 18 -