Registered Cliai'ity NunibeR' 1101574 AL MADAD FOUNDATION Trustees, report and financial statements For the year ended 31 December 2023 Al Madad Foundatioii Conteiits Page Legal and administralive information Ti ustees, report 24 Independent Examinci s report Financial activities Balance sheet Not¢ to the financial statements 8-10 Al MadAd Fouiidation l£gal and AdministiMtive ITiforn)alion Trustees Yasinin Alireza Basma Alii'eza Faiza Meyas8ai' Charity Number 101574 Charity Office 52 Mouni Sti'eet London WIK 2SF Accountants Jolly & Co. 450 L4ath Road Longford Heatl)I'ow UB7 OEB Bankers Unity Ti'ust Bank HSBC Bank Vii'gin Money Page I Al Madad Foundation Trustees, repoi't For the yeai. ended 31 December 2023 Ti'ustees: The tl'LlStees' names on the ch￿.]ty'S Anfoi-mation page Iiave served tlu'ouglioul. the yeai.. Appointment of the I￿SteeS is governed by thc Tivst Deed of the chai'ity. Tlie Boai'd of Ti'ustees is autlioi'ised to appoii)t new h'ustees to flll vacancies arising tlii'ougli i'esignatioi) or dealh of arL existing tsustee. Sti'ucture Governance aiid Majiagement: The FoiiIidation is botli fuiided dii'ectly by the trustees, as well as tlii'oiigh doi)ations and fundi-aising activities organised by its funding ai'i)I, Al Madad Foundation Fundiiig Limited. Al Madad Foundatioii is run by the Board, which ineets regularly to I'eview stt'ategy, agree oli Inattei's concei'ning on- going pi'ojects and confirm new pi'ojects ￿ well as to regulate and nionitor financial inattej's. Investment Poivers: The Ti'ust Deed auihorises the Ii'uslees to Inake and hold investments using the genei'al fLinds of the cliarity, but no such investmeJ)ts are pi'eseiitly lield. Constitution, objects? policies and public benefit: The Cliaritable Tiust is coiistituted by the Trust Deed, and ils objects ale: -To effect change in tlie lives of disadvantaged and displaced children thiDugh the ineans of ediication, al'listic expression and holistic ivellbeing -To pi'omote an undei'standing of the arts in an educatioiial setting -To pi'eserve at risk oi. Inarginalised heritage or cultural activities -To advocate for tlie comniunities we support and be a tiwsted and authoi'itative soui'ce of infoi'mation Development, activities and achievenients: Woi'k in Gaza and the West Bank {Palestine) shaped 2023 foi. AMF. Our Ga7a pi'oject with Ajyal Foundation (socio-emotional leai'ning in schools) concluded in May having reached ovei. 4000 childi'en. Our pi'oject with PCCDS (providing glasses and heal'ing aids to scliool pupils) started in Januaiy and the team workcd tlii'ough UNWRA strikes (Mai'ch-June) to hit all of theit. tai'gets by Septeinber. In October war broke out, but the team liave, in an amaztng display of fortitude, foiighi to deliver needed equipinent to children wl)ere tliey can in the southei'n West Bank. Woi'k in Lebanon included a project with the National Wellness Network-Model￿ Ujiivei'sity fot, Business and Science (NWN-MUBS) wliich provided kn?ining for out-of-work Lebanese and Syrian youths. Amf attended the job fail. for these young people in Lebanon, in May 2023. In reaction to what has been a continuation of the crisis and uncertainty in Lebaiion that we saw in 2021 and 2022 we renewed our suppoit foi. five specially selected schools in the Beii'ut ai'ea. In subsiding the fees for sti'uggling fainilies at tliese institutions, AMF has helped to keep Lebanese and Syriaii L'efugee childi'en in school and (iiidirectly) suppoited the teaching staff wlio continue to sti'ive foi. the best in almost uniinaginably sti'aiii¢d circumstances. P2ge 2 Contd.. Al Madad Fouiidatioii Ti'ustee5' I'eport Foi. tlie year ended 311)ecember 2023 Future Developments: As we look ahead to 2024, Lebanon rcmaiiis a pi'iority and we will take a view oli whei'e our Iielp is most needed if this perii)d of ci'isis and unceitainty contiiiues (as it cui'i'eiitly looks like it will). We al'e also in talks with vai-ious oiganisatioiis to tiy to plan assistaiice in Gaza wlieii it is possible to woi'k in this very ti'oubled aiEa. Financial Revieiv runds available are sufficient to peiinit the Tiust to continue in operation in the shoi't tei'm, giveii the continued support of the donors has already beeli promised. Should this support not continue in the longei- tei'iii, fui'tliei. financial suppoit would nccd to bc sought to i-eplace it. Risli Manageinent The trustees actively J'eview on a regLilar basis any majoi- i'isks Nvliich the cliarity faces aiid believe tliat rnaintaining i'escrves al Lui'reni levels, coiiibincd wit]] an annual ieview of tlie controls over key financial systeiiis. will provide sufficient resources in the event of adverse conditions. The tiustees have also exaniined ollier opei-alional and business risks faced by the cliai'ity and confimi tliat they have established systems to mitigate these. Reserves Policy Tlie I'esei'ves of the charity which are can'ied forward fron) yeai. to yeai, would I'aiely exceed the equivalent of one year's income. The resei'ves held aiE COll8ideiEd to be a pi'udeiit Iniiiiinuiii to ensui'e thal the work of tlie chai'ity coiitinues in an orderly Inaniiei. fi'oni yeai. to yeai,, even when donations Inay fluctuate. It also pi'ovides funds foi- any development and expansion woi'k in the fLlture. Page 3 Al Madad Foundation Trustees, Report For the year ended 31 December 2023 TRUSTEES) RESPONSIBILITIES IN RELATION THE FINANCIAL STATEMENTS The chai'ity ti'ustees responsible for preparing a trustees, annual i'epoit and financial statements in accordance with applicable law and United Kingdom Accounting Standaids (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales i'equires the charity trustees to pi'epai'e financial statements foi- each yeai. which give a true and fair view of tlie state of affaii's of the ¢hai-ity and of tlie incoming resources and application of resources of the charity foi. that period. Prep￿.Ing the financial statements the trustees are required to: Select suitable accounting policies and tlien apply them consisteiitly Obsei've the methods and principles in the applicable Charities SORP Make judgements and estimates that are reasonable and prudent State whetlier applicable a¢¢ounting standai'ds have been followed subject to any matei'ial departures disclosed and explained in the financial stateiiients Prepai'e the financial statements on the going concern basis unless it is appropriate to pi'esume that the chai'ity will conlinue in business The trustees are responsible for keeping proper accounting records whicli disclose with reasonable accuracy al any time Ihe financial position of the charity and enables them to ensure that the financial statements coinply with the Charities Act 2011 the applicable Chai'ities (Accounts and Reports) Regulations and the provisions of tlie Trust Deed. They are also responsible for safeguai'ding the assets of the Chw'ity and taking re&sonable steps foi. the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financia infoi'mation included on the charity's website. Legislation in the Uniled Kingdom govei'ning the prepai'ation and dissemination of financial statements may differ from legislatioii in othei. jurisdictions. Approval Tliis repoit was approved by the trustees on 09 February 2024 and signed on their behalf. Basma Alireza Trustee Page 4 Al Madad Foundation Indepeiideiit fi xaiiiiner's repoi't to the ti'ustees of l Madad Foundation charity TO THF TRUSTLI fi,S OF AL MADAD FOUNDATION CHARITY l i'epoit to the tl'U5tees on my examination of the accounts of tl)e above chai'tty foi. the year elided 31 Decenibei. 2023 whicli al'e sct oiit on pag&s 6 to l O. Responsibilities and basis rei)ort As tlie charily trustees, you are responsible for the preparatioli of the accoLints iii accoi'daiice Ivith tlic Chai-ities Act 2011 ("the Act"). l i'eport in respect of Iny exaininatlon of the Trust's accounts C￿.￿led out undel section 145 of the 201 l Act and in cari'yiiig out my cxaininatioii, I have followed all the applicable Dii'ections given by the Charity Coinmission under seclion 145(5)(b) of tlie Act. Basis of indei)endent elaminei s stalement My exainin2tion was carried out in accordance with Geiieral Diiections given by the Chai'ity Commission. An exaniination incliides a I'eview of ihe accounting records kept by the chai'ity and a coinparison of the accounts pi'esenled with those records. It also includes considei'ation of any unusual iteiiis or disclosures in tlie accouiils, and seeking explanations froni you Ls ti'ustees con¢ei-Iiiiig any such iiiatters. Tlie pi'ocediiiu undertaken do not provide all tlie evideiice that would be i'equii'ed an aiidit, and consequently no opinion is given as to wh¢thei' the accounts iji'esent a 'ti'ue and fair view, and tlie report is liniited to those Inatters sel out in the stalenieiit below. Independent exan)Iner's statement The cliai'ity's gross income excceded £250,000 and l ain qualified to undertake tlie examinalion by being a qiialified nieinbei. of Association of Cliartered Certified Accountants. I have completed n)y examination. I confIi-m that no Inaterial Inatteis liave conie to my atlention iii connection witl) the exa]nination which gives ine cause to believe that in, any niatei'ial i'espect: the accounling r¢coi'ds weiE not kept in accordaiice with section 130 ot. tlie Act. or tlie accoiints did not accord widi the accounting I'ecords. oi, the accounts did not comply with tlie applicable I'equireinents concerniiig tlie foi'ni and coiitent of accounts set out in the Chai-itics (Accounts and Repoits) Regulations 2008 other than any i'equii'emeiit thal the accounts give a 'tsue and fail view i¥liich is not a mattel. considei'ed 85 part of an independent examination. I liave no concei'ns aiid have eoii)e aci'oss no othei. iiiattei's in connection witli thc exaniination to which attentlon slioiild be d12wii ili diis repoit in ordei. to enable a proper understanding of the accounts to be reached. Mr John Thoinas B.Sc.{Econ) FCCA 450 Bath Road Lonoford Heathrow, UB7 OEB Date: 09 February 2024 Page 5 Al Madad Foundation Stateinent of Financial Activities (including Income and ExpcnditUR'C Account) for the yeaR" ended 31 December 2023 Uni'esti'icted Fuiids Resli"icted Funds Total Funds Total Funds 2023 2023 Dec 2023 Dec 2022 Notes lyicoming Resoui'ces VoluiitAI'y Ineome; Donatiotis & Otlier Encoine 224,402 55,194 279,596 328,192 Total Incoming Resources 224,402 55,194 279.596 328,192 Resoui'ces e.Ipen(led Cliai'ilable activities 188,017 188,017 325,395 Management & Genei?I 163,723 163,723 150,563 Governance Costs 5..350 5,350 5,654 Pi'oje¢t Coordination & Support Costs 56,530 15.944 72.474 70,873 Comniunication & Awai'eiiess raising 6,972 6,972 8,534 Total resoui'ces expended 232,575 203.961 436,536 561,019 Net inoveinents in funds (8,173) (148,767) (156,940) (232,827) TotAI funds bi'ouglil foi'wai'd 116,289 230.094 346,383 579,210 Total fuilds c81.ried foiryvai'd 108 116 81 27 189 443 346,383 I'he staleiiient of financial aetivities includes ail gains and losscs for tlie perlod. All inconiing i-esources wid i-esources expended derive fiY)m contiiiuing activities. The notes oll Page 8 to 10 form integral part of these fin211eixl statenients. Page 6 Al Madad fioundatio Balance Sheet as at 31 Deceniber 2023 YIE Dec YIE Dee Notes 2023 2022 ri ixed Assets Offiee EqLiipnient Additions Office Eqiiipnient Depre¢iation cliarge 5.409 (4.597) 812 Cui'i'ent Assets Ai)iount due from Al Madad Foundation Funding Limited Pi'epaynienls Cash at bank and in hand 61.414 803 131,764 81.693 12.694 257,789 193,981 352,176 Creditoi's: amounts falling due wiihii) one year 5,350 5,793 Net eui'rent Assets 188,631 346,383 Net Assets 189,443 346,383 Repi'esented by: Unrestricled Funds: General fund Restricted Funds 108,116 81,327 116.289 230.094 TotAI 189,443 346,383 These financial statements were approved by the trustees on 09 February 2024 and siwied on ils belialf by.. Alii'eza Triistee The llotes on pages 8 to 10 foi'm an integral part of these finAneial stateineiit5. Page 7 Al Madad Foundation Notes to tbe Financial Stateineiits Foi. tlie yeai. ended 31 Deeeinbei. 2023 l. Accouiitiiig policies The principal accounting policies al'e summai'ised below. The accountiiig policies liave becii applied consistently tlii'ough tlie year and tlie preceding yelli.. 1.1 Basis of accounting The fiiiancial staten)ents of tlie chai'ity have been prepared und¢r histoi'ical cost coiiventioii, iii accordai)ce witli tlie Chai'ities SORP (FRS 102) 'Accouiiting and Repoiting by Charities: Statement of Recornineiided Pi'actice applicable lo charities prepai'ing their accouiits in accordanoe with the Financial Repoiting Standai'd applicable in the UK and Republi¢ of Ireland (FRS 102) (effectivc l January 2019), and the Chai-ities Acl 2011, 1.2 Fund accounting Uni'esti'icted funds al'e available foi. use al the disci'etion of the triistees in furthei'ance of the geiieral objectives of the chat'ily. Resti'icted funds are subjected io iesti'ictions on their expenditure iinposed by the donoi. oi. through tlie terins of an appeal. 1.3 Incoming i'esources ALI incoming resoui'ces are included in the stateinent of financial activilies when the Ch￿'itY is entitled to the iiicome and the ainount can be quaiitified with reasonable acciii'acy. Tlie following specific policies al'e applied to pai'ticular categories of incoiiie: Voluntaiy iiicoine is received by way of grants, donations aiid gifts and is included in full in tlie Statement of Financial Activities wlien receivable. Grants, wliei'e not conditional on the deliveiy of a specific pei-formance by the charity, al'e i.eco￿lised wlien tlie cliai'ity become unconditionally eiilitled to the gi'ant. Dorlated services and facilities are included at tlie value to tlie charity where this can be quantified. The value of services provided by volunteers lias not been included in these accouiits. Investineiit income is included where receivable. Resourees expended Expenditure is I'ecognised on an accrual basis as a liability is incuri'ed. Expenditui'c iiicludes any VAT wliich cannot be fully i'ecovei'ed, and is i-¢ported as pait of the expenditure to wliich it i'elates: Cl)aTitable expenditure coinprises those costs incuriEd by the chai'ity in the deliveiy of its activities and services for ils beneficiai-ies. It includes both costs that can be allocatcd directly to such activities and those costs of an indii'ect naluiE neCeSS￿'Y to SLipport them. CJovernance costs include those costs associated with Ineeting the constitiitional aiid statutoiy reqiiii'ements of tlie chat'ity and include the audit fees and costs linked to tlie sti-ategic iiianagefflent of the cliarity. Page 8 Al Madad Fouiiilation Notes to tlie Financial Stateiiients foi. tlie yeai. et)de