OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-12-31-accounts

Unrestricted Restricted Total Total
Current Year Funds Funds Funds Funds
Note 2022 2022 2022 2021
6 6
INCOME
Donations 2 1,369,534 151,293 1,520,827 646,142
Other trading
activities		 3 12,815 12,815 4,183
Income from charitable activities 4 157,644 812,567 970,211 1,476,445
TOTAL INCOME 1,539,993 963,860 2,503,853 2,126,770
EXPENDITURE
Expenditure
on raising funds		 518,905 518,905 278,891
Expenditure
on charitable		 activities 579,467 954,513 1,533,980 1,682,230
TOTAL EXPENDITURE 5 1,098,372 954,513 2,052,885 1,961,121
Net income 441,621 9,347 450,968 165,649
NET MOVEMENT
IN FUNDS		 441,621 9,347 450,968 165,649
TOTAL FUNDS BROUGHT FORWARD 247,175 757,047 1,004,222 838,573
TOTAL FUNDS CARRIED FORWARD 688,796 766,394 1,455,190 1,004,222
Prior Year Unrestricted Restricted Total Total
Funds Funds Funds Funds
Note 2021 2021 2021 2020
INCOME
Donations 555,369 90,773 646,142 887,554
Other trading
activities		 4,183 4,183 3,310
Income from charitable activities 228,241 1,248,204 1,476,445 1,299,455
TOTAL INCOME 787,793 1,338,977 2,126,770 2,190,319
EXPENDITURE
Expenditure
on raising funds		 278,891 278,891 279,809
Expenditure
on charitable		 activities 492,377 1,189,853 1,682,230 1,544,744
TOTAL EXPENDITURE 771,268 1,189,853 1,961,121 1,824,553
Net income 16,525 149,124 165,649 365,766
NET MOVEMENT
IN FUNDS		 16,525 149,124 165,649 365,766
TOTAL FUNDS BROUGHT FORWARD 230,650 607,923 838,573 472,807
TOTAL FUNDS CARRIED FORWARD 247 175 757 047 1 004222 838 573
All ofthe Charity's
operations		 are continuing.

2022 2021
Note 6
FIXEDASSETS
Tangible assets 10 3,350 2,631
Investment assets 11 I 1 1
Programme related equity investment 11 II 80,260
83,611 2,632
CURRENT ASSETS
Programme related investments 12 15,697 124,870
Debtors 13 551,952 365,788
Cash at bank and in hand 992,876 654,404
1,560,525 1,145,062
Creditors: amounts falling due
within one year 14 (188,946) (143,472)
NET CURRENT ASSETS 1,371,579 1,001,590
NET ASSETS 1,455,190 1,004,222
Restricted funds 15 766,394 757,047
Unrestricted funds
Designated
funds		 16 30,249 2,631
General fund 17 658,547 244,544
688,796 247,175
1,455,190 1,004,222

2022 2021
Note E
FIXEDASSETS
Tangible assets 10 3,350 2,631
Investment assets 11 I 1
Programme related equity investments 11 II 80,260
83,611 2,632
CURRENT ASSETS
Programme related investments 12 15,697 124,870
Debtors 13 554,303 358,540
Cash at bank and in hand 975,727 643,810
1,545,727 1,127,220
Creditors: amounts falling due
within one year 14 (191,297) (143,472)
NET CURRENT ASSETS 1,354,430 983,748
NET ASSETS 1,438,041 986,380
Restricted funds 15 759,146 749,799
Unrestricted funds
Designated
funds		 16 30,249 2,631
General fund 17 648,646 233,950
678,895 236,581
1,438,041 986,380

Notes 2022 202'I
Cash provided
by operating		 activities
Net movement
in funds		 450,968 165,649
Add back depreciation charge 1,117 1,049
(Increase) Decrease in programme related investments 28,913 (61,288)
(Increase) Decrease in debtors (186,164) (269,091)
(Decrease) Increase in creditors 45,474 (42,632)
Net cash generated from (used in)
operating
activities		 340,308 (206,313)
Cash flows from investing activities
Purchase oftangible fixed assets (1,836)
Net cash (used in) I investing activities (1,836)
Increase/(Decrease) in cash and cash
equivalents
in the year		 338,472 (206,313)
Cash and cash equivalents at the
beginning
ofthe year
Cash in hand 654,404 860,717
654,404 860,717
Total cash and cash
the end ofthe year		 equivalents at 992,876 654,404
ANALYSIS OF CHANGES IN NET DEBT
At start ofyear Cashflows Acquisition
/di sposal of
subsidiaries		 New finance
leases		 Other non-cash
changes		 At end ofyear
Cash 884,404 338,472 992,876
Cash equivalents
Overdraft
facility
Loans
Total 884,4o4 338,472 992,876
1.Accounting
policies
These financial
statements
have been
prepared
under
the historical
cost convention
and
in accordance
with the Financial
Reporting
Standard
applicable
in the UK and Republic of Ireland (FRS 102).The Charity is a public benefit entity for the purposes
of FRS 102 and therefore
has also
prepared
the financial
statements
in accordance
with the 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
(The FRS 102 Charities
SORP) and the Charities
Act 2011.
Going Concern
The Trustees
have assessed
whether
the use of the going concern
basis is appropriate
and have considered
possible
events or conditions
that
might cast significant
doubt on the ability ofthe Charity to continue as a going concern. The charity continues
to experience a decline
in support for
on-line
activities
and campaigns.
Trustees
regard
this as reflecting
the global
economic
downturn
which
is affecting
support
accross the not for
profit sector. The Trustees anticipate
that this will continue to be the case for this level of engagement,
however the charity's
gala dinner,
originally
scheduled
for 2020, took place in December 2022 and was highly successful. Trustees beleive that this indicates that support
from individuals
con
be maintained
and grown
through
deeper and more meaningful
engagement.
The charity also gave due consideration
to the continuing
effects of
the COVID-19 outbreak
and associated
restrictions,
which continued
to disrupt
in-person
gatherings
and trainings,
travel and in-person
fundraising
events
throughout
the early
part of 2022, but by the end of 2022 was not of significant
concern.
Alfanar's
senior management
team evaluated
progress
achieved
to date and used
it to inform
a revised
2022-2026 strategy
aimed
at accelerating
the impact
of Alfanar's
support
to social
enterprises,
driving
regional
growth,
and
positioning
Alfanar as a noteworthy
social enterprise
expert and resource
for the MENA region.
This
strategy,
approved
by the Trustees
in the first quarter
of 2022, balances
donor engagement
between
long-term
individual
support,
events
and
campaigns
and
growing
support
from institutional
partners.
This revised
plan
will enable
Alfanar
to not only meet
its financial
commitments
to
current social enterprises,
but to grow it in the future.
The charity aims to maintain
free reserves at target levels
in 2023. Accordingly,
the Trustees
continue to adopt a going concern basis in preparing
the financial statements.
Presentational
currency
The presentational
currency
used is British pound
sterling,
and balances are rounded
to the nearest f1.
Company status
Alfanar
is a company
limited
by guarantee.
In the event ofthe Charity
being wound
up, the liability
in respect of the guarantee
is limited to f1 per
member ofthe Charity.
Critical accounting
judgements
and key sources ofestimation
uncertainty
In the application
of the chanty's
accounting
policies, Trustees are required
to make judgements,
estimates,
and assumptions
about the carrying
values ofassets and liabilities
that are not readily apparent
from other sources. The estimates
and underlying
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 on-going
basis. Revisions
to accounting
estimates
are recognised
in the period
in
which
the estimate
is revised
if the revision
affects only that period,
or in the period of the revision
and future
periods
if the revision
affects the
current and future periods.
In the view of the Trustees,
there are no key assumptions
concerning
the future
and other key sources of estimation
uncertainty
at the reporting
date that have a significant
risk ofcausing a material
adjustment
to the book values ofassets and liabilities
within the next financial year.
Fund accounting
General funds are unrestricted
funds which are available for use at the discretion
ofthe Trustees
in furtherance
ofthe general objects ofthe Charity
and which have not been designated
for other purposes.
Restricted
funds are funds
which are to be used
in accordance
with specific restrictions
agreed
with donors which have been raised
by the Charity
for particular
purposes.
Designated
funds are unrestricted
funds earmarked
by the Trustees for particular
purposes.
Income
All income is included
in the Statement
of Financial
Activities when the Charity
is legally entitled
to the income, receipt is probable,
and the amount
can be quantified
with reasonable
accuracy. Voluntary
income is received
by way of donations
and gifts and is included
in full
in the Statement
of
Financial
Activities
when receivable.
Gift aid recoverable
is recognised
at the date the related
donation
is received. Donated services are included
in income and expenditure
at the value ofthe gift to the Charity.
Expenditure
All expenditure
is accounted
for on an accruals basis. Irrecoverable
VAT is charged
in line with the expense
to which
it relates.
Expenditure
is
allocated
to a particular
activity
where
the cost relates
directly
to that
activity.
Support,
overall
direction
and
administration
of each
activity,
comprising
the salary and overhead costs ofthe central function,
is apportioned
on the basis ofthe staff costs directly attributed
to each activity.
Grant investments
The first payment
on grant investments
is reflected
in the accounts at the point at which they are approved
by the Board and communicated
to the
investee. Subsequent
tranches are dependent
on performance
assessments
by Alfanar
and are reflected at the time of approval
by the authorised
member ofthe senior management
team. .
Some grant agreements
are negotiated
with a clause stating
that a proportion
will be repaid
if a target level of income is generated
by the project
funded. As it is uncertain
that these repayments
will be made, such zero interest repayable
grants are accounted
for in the first instance
in the same
way as other grant investments.
Ifthese grants are repaid the sums are treated as income and transferred
to General
Funds.
In the instance
when
there is a strong
likelihood
of repayment,
the grant is treated as a programme
related
investment
and held on the balance sheet in the fund used to
disburse
the payment
to the investee.

2. DONATIONS
Current Year Unrestricted Restricted Total
Funds Funds Funds
2022 2022 2022
f f f
Boards ofAlfanar, subsidiaries and affiliates 323,041 323,041
Other individuals 243,293 121,293 364,586
Legacies 72,950 72,950
Dinner events 702,110 30,000 732,110
Donated services 28,140 28,140
1,369,534 151,293 1,520,827
Prior Year Unrestricted Restricted Total
Funds Funds Funds
2021 2021 2021
Boards ofAlfanar, subsidiaries and affiliates 185,926 185,926
Other individuals 337,380 90,773 428,153
Donated services 32,063 32,063
555,369 90,773 646,142
In 2022f21,510(2021:f12,120)of Gift Aid
f11,500(2021:f11,500)was included
within		 was receivable. This has been accounted
along
Board income and f10,010(2021:f 620)was		 with the donations
that attracted the claim.
included
within
Other individuals.
3. OTHER TRADING ACTIVITIES
Current Year Unrestricted Restricted Total Total
Funds Funds Funds Funds
2022 2022 2022 2021
f f f f
Social enterprise management support 12,663 12,663 4,183
Bank interest 152 152
12,815 12,815 4183
Prior Year Unrestricted Restricted Total Total
Funds Funds Funds Funds
2021 2021 2021 2019
f f f f
Social enterprise management support 4,183 4,183 3,310
4,183 4,183 3,310

Current Year
Unrestricted Restricted Total
Funds Funds Funds
2022 2022 2022
Alfanar,
Inc., US		 56,273 56,273
Drosos Foundation 67,630 73,425 141,055
Global Fund for Widows 20,660 20,660
GIZ 450,092 450,092
LIFE Generation fund 40,979 40,979
Oxfam 201 201
SODIC 15,490 66,426 81,916
Other corporates 100,000 100,000
WasteAid 53,485 53,485
Other trusts and foundations 13,050 7,500 20,550
UK government Employment Allowance 5,000 5,000
157,644 812,567 970,211
INCOME FROM
Prior Year		 CHAR ITABLE ACTI VITIES
Unrestricted Restricted Total
Fundsf Fundsf Fundsf
The Asfari Foundation 125,000 125,000
Alfanar,
Inc., US		 22,151 22,151
Al Ghurair
Foundation		 for Education (AGFE) 157,298 157,298
Bank ofAmerica 38,918 36,918
British Council (LEEP) 9,908 9,908
Drosos Foundation 82,907 128,027 188,934
GFA Consulting Group GmbH (GFA) 207,090 207,090
Impact Lebanon 178,881 178,881
LIFE Generation fund 39,734 39,734
Oxfam 7,007 84,138 71,143
Plan: Jordan Mubaderoon
project		 12,874 77,011 89,885
SODIC 12,393 71,035 83,428
Their World 18,588 185,881 204,249
Other trusts and foundations 45,248 18,311 81,557
UK Covid Job Retention Scheme 469 469
228,241 1,248,204 1,476,445
7. SUPPORT COSTS 2022 2021
F
Governance:
audit fee (including		 irrecoverable VAT) 19,264 16,770
Staff costs 188,606 97,022
Staff development 1,759
Accounting,
payroll
and		 compliance 4,843 4,340
Rent overseas office space 12,515 11,410
Rent UK office space 8,400 2,814
Legal and professional fees 18,279 13,618
Bank charges 8,060 5,664
Insurance 1,862 1,437
Realised loss/(gain)
on
*Unrealised
loss/(gain)		 foreign exchange
on foreign exchange		 (8,215)
21,919		 2,296
5,390
Depreciation 1,117 1,049
Other 61,403 38,138
- Losses on roreign excnange are matcneo oy a reoucson in orner areas or expenoit 339,812 199,948 rmany oisourseo in mat
currency.
8. DIRECT COSTS OF CHARITABLE ACTIVITIES 2022 2021
Grants Awarded f f
- Egypt Portfolio (Sustain)
Brighter Tomorrow for Child Protection (BTCP) 19,330 58,991
Delta Oil 10,376 10,221
Duma 10,827 10,221
Educate Me 36,036
Emonovo (Mar)3) 10,394 10,221
Future Eve Foundation 18,953 37,653
Heya Masr 4,757 11,795
Life Vision 12,989 29,327
Nakoll 10,394 10,221
Sprints 10,394 10,221
Startups
Without Borders		 9,982
Takafoo 1,902
Threads of Hope 10,378 10,221
Yadawee 10,376 9,982
129,168 256,994
- Egypt Portfolio (Seed)
Ataa Charitable
Association		 4,236
Future Zone 4,728
Maharat Vocational
Training		 and Skills 4,729
Makouk Welada Advanced Games for Children 4,729
Man Ahyha Association 4,236
22,658
- Lebanon
Portfolio		 (Sustain)
Ana Aqra 66,007 47,827
Bridge.Outsource. Transform (B.O.T.) 119,274 24,762
FabricAid 78,264 14,671
Inaash- Refugee Prorgramme 20,063 32,661
L'Artisan
du Liban		 37,364 17,332
Lebanese Alternative Learning (Tabshoura) 91,375 112,266
Bedco by MARCH 47,130
MMKN- Refugee programme 67,807
NaTakallam-
Refugee		 Programme 11,080
SE Factory 116,970 50,574
SE Factory- Refugee programme 29,074
ShareQ 24,753
Shatila Studio
—Refugee Programme		 16,101
WP/VSoufra/Nawras Preschool 13,520
630,821 408,054
- Lebanon
Portfolio		 (Seed)
LiveLoveLebanon 24,652
Marsa 24,479
Vanina 24,479
FabricAid 24,530
Souk El Tayeb 24,485
L'Artisan
du Liban		 24,484
147,109
- Emergency
Lebanon		 Response
Bedco by MARCH - Reconstruction 181,487
181,487
Sa INVESTMENT SP END END END END
Investment
spend		 is the total ofdirect staff expenditure and other direct costs ofcharitable activities.
2022 2021
f f
Direct costs ofcharitable activities 1,007,077 1,337,045
Direct staff costs on charitable activities 331,563 219,253
Investment
spend		 1,338,640 1,556,298
9. STAFF COSTS
2022 2021
f
Gross salaries 340,794 296,737
Social security costs 40,169 28,842
Employer
pension		 contributions 4,935 4,545
Salaries ofoverseas staff 273,610 112,694
Other overseas staff costs 3,601 2,321
663,109 445,139
A total of20 individual staff members were employed by the Charity and subsidiaries in the year (2021:10).
Number ofemployees
f90,000-f99,999
f80,000-F89,999		 whose salaries were in the following bands: 2022
1		 2021
f70.000-f79,999
f60,000-F69,999
Aggregate
employer's		 annual contributions to pension schemes for these staff F1,321 f1,319
benefits ofthe key management
personne		 l
ofthe Charity were		 f251,800 (2 021:f211,845).
The Trustees received no remuneration nor the reimbursement ofexpenses in either year.
10. TANGIBLE FIXEDASSETS (Group and
Cost		 Charity) Office
Equipmentf
At 1 January 2022 12,119
Additions
in the year		 1,836
At 31 December 2022 13,955
Depreciation
At 1 January 2022 9,488
Charge for the year 1,117
At 31 December 2022 10,605
Net book value
At 31 December 2022 3,350
At 31 December 2021 2,631
Alfanar
Lebanon		 Alfanar
Lebanon		 income and Expenditure statement 2022 2021
Income
From UK 155,232 34,435
From other sources 7,283 25,878
Expenditure 155,347 50,297
Net movement in funds
Alfanar
Lebanon		 Balance Sheet f f
Bank 17,184 10,016
Net Assets
Restricted
Fund
General
Fund		 17,184 I~,~16
161IW
12. PROGRAMME RELATED INVESTMENTS (Group and Charity) 2022 2021
f
Repayable
grants		 due within one year 15,697 41,418
Repayable
grants		 due after more than one year 83,452
15,697 124,870

-The convertable
r
 epayable grant to FabricAid
Holdings
of$		 60,000 (f44,933)in 2021 has been converte d
into equity
in 2		 022.
13. DEBTORS Group Charity
Due within one year 2022 2021 2022 2021
F F
Grant debtors 166,228 18,484 166,228 18,484
Accrued income 376,452 323,068 376,452 323,068
Other debtors 712 7,673 712 425
Alfanar
Lebanon		 10,627 2,351 10,627
Prepayments 8,560 5,936 8,560 5,936
551,952 365,788 554,303 358,540
14. CREDITORS Group Charity
Due within one year 2022
f		 2021
f		 2022
f		 2021
f
Trade creditors 23,950 12,732 26,301 12,732
Taxation 12,419 8,663 12,419 8,663
Grants payable to investees 84,045 71,665 84,045 71,665
Defined contribution pension scheme payments 3,890 1,770 3,890 1,770
Other accruals 64,642 48,642 64,642 48,642
188,946 143,472 191,297 143,472
'0
41		 '0 hl Ot0 co
EO		 I
EO
ED		 N
Ot
I		 CD CO
ID
ol		 ' to
d
I		 I
co		 d
af
to		 ID
ED		 I
CO
of		 co
CD
co		 ED
ot		 at
d
at		 EA
ot		 ao
CO		 ot
ol		 CV Ct
01		 EO
0		 CO
0		 CD
IA		 tO
N
at		 N
N		 ' I
01
IA		 Cl
Om 0 N EA
CO		 co
N		 af af 'll 'll af 'll to
r		 CO N
/D		 I
0		 CV
CO		 I Cn
ln
I
Ia ED CV N
al ED EO
la0 Ol Ol CD
N
W 0
Ot0		 0
EO		 I
ID
d		 0
EO
I		 0
ED
ED		 0
0
0		 0
N
to
EOr		 0 0 0 0
01
0		 I
Ol
0		 ao
0		 Ol
0
CV
CO		 I
Ct
IA
EO		 CV EA
0
0
/D
Eo		 ED
CD
0
co		 N
d
I
I		 0 N
EO
CD
N		 CO
EA
I		 I
EA
N		 I0
0
Cl
I		 I
0		 to
I
r		 I
N
cv		 0
Ot
EA		 CD
I
cv
EA
O IU
41
E0
U0		 W 0
EO
I		 co
tO		 d
N
ED		 N
EA
00		 I
0
EO		 0
CO
EO		 0
O
0		 ' I
Ol
ED		 I
I
aa		 0
d
N
Ol		 00
d
N
CD		 d
Ol
Ol
ED		 00
d
N
CD		 0
d		 'll
EA
to		 EA
CO
EA		 0
lo		 CD
CD
/D
N		 I
ED
10		 cn
/D
I
I		 ol
0
0
ID		 ED
EO
Ear
01 la
0
IC IL		 w 0
00		 EO
Ol		 CO
EA
Ol
ID
CO		 ' EO
to
CV
EA		 CO
at
N
ID		 CO
ca
N
EO		 CO
at
N
ID		 CO
ca
N
EO		 CO
at
N
ID		 CO
ca
N
EO		 CO
at
N
ID		 CO
ca
N
EO		 EO
lo		 ' EA
0
0
EO
to		 EO
CO
ED		 Nl
01
to		 ' CO
Ol
CV		 EA
EA
0
N
EA		 0
lo
CV		 0
0
00		 CO
Cn
Ot		 /D Ol
Cn
Ol
I
'0 '0
41
hl
0 0		 W Cl
Cl
I		 Cn
Cn		 I
(D
EO		 Ol
I		 10
CaN		 ln
IO
Cn
ln
04		 ' CO
d
I
co
CV		 I
ln		 d
tn
CO
al		 0
EO
ca		 I
co
O
d		 ln
tn
ln		 0
0
d		 at
d
af
ca		 0
0
d		 Cn
co
to		 O
Ol		 Ol
I
Cn		 N
CO		 CO
Ol
Ca
Cl		 ln
0
I
ON		 EO
Ol
CV
Ch
04		 Icl CO
N
N		 CV
CV
I		 ' I
Ol
ln		 Cl
EO
10 EO (D 0 0 CV CV
41
100
taI-		 Cn Ol ED
IO		 ED
EO		 EO
Ol
Ca		 CD
Ol
Ca
0
IL		 41
'00
(L
I(		 Cl
Ol
Cl		 o
CO		 r
ID
r
d		 o
ED
Ul
I		 0
CO
Cl
CV		 0
O
O		 o
N
Ul
CO
lr		 d
Cn
Ca
0		 co
I
al
0		 r
Ca
Ca
0		 0
cn
0		 d
cn
0		 co
I
0		 cn
0
N
CD		 r
0
IA
CO		 r
Ca
I		 CV O
o
ED
Ul		 cn
En
O
Cn		 Ca
d
I
I		 o
CV		 Ca
Cl
Cn
N		 04
ED
I		 r
Ul
N		 o
O
Cl
I		 r
Cn		 r
ED
I
'll		 I
Ca
CV		 o
o
lA		 cn
I
CV
IO		 ID
ln
Ol
(y IU
ta
E000		 Cl
Cl
r		 co
CO		 '0
N
ED		 N
ul		 0
Cl		 O
CO
Cl
CV		 0
O
O		 ca
Ol
EO		 0
I
Cn		 o
N
Cn		 N
Ch		 cn
Ol
EO		 N
Ch		 Ca
d		 IA IA
Cl
0
IO		 O
ID
ca		 Ca
EO
CV		 En
r
CO
IA		 Cn
0
I
I		 N
Cn
o
O
IA		 00
LL
~0
LU
LL
LL		 0
Cl		 '0
IL		 0
O
O		 Cl
0
Ol		 Ca
ln,
Ol
'
CO		 co
ED
N
I		 04
ca
Ca		 co
al
N		 04
ca
Ca		 co
al
N		 04
ca
Ca		 co
al
N		 04
ca
Ca		 co
N		 EO,
Ill
'		 ID
0
Cl
Ul
ED		 Cl
Ca
ED		 Crt
CO		 Ca
ED
Cn
Ca		 co
IA
I		 ID
CV		 0
Ol
IO		 0
ID
CV		 O
o
o
O
IA		 Ca
cn
'0
Ol		 Cl
ED
CI
(A
LL
CI
IA
LL
00		 0 0
al
O
cL'
IA
LU
CI
IA
Ci		 0001
1
Cl
0C
4Ifl
C00
Ca
tl
'O0
E
CD
CE		 al 8
I- fl
Z Z
IU 0
Z m
IU Z
»d0
rn 0
J 0
E 0
Z 0
~( 0
Z Z
IL
IU		 Ol0Z0
IL0
UI
N
IJI		 ttl
Cl
0
41
Z
E0		 C
0.
CD
IU		 CL
Ol
IU
C
0
O
ltl
'0
IU		 41
illo(L
0I-
IU
(A		 I
m
41
Z		 0
o
0
Ql
N		 C0
ill0
'cl
IU
af
41
L
41
0		 (n
UI
C
UI
0
ttl
4I
E
00		 0
m
10
th
IJJ
al
E
U		 0
'0		 ta
E
E
Cl0
0
IU0		 41
OL
ttl
m
m
f/1
m
L
0
I-		 ED
ta
o
(I
E
UJ		 0
ttl
0		 ta
E
0		 0
z
al
Z		 m
L
0.
N		 Ql
O
m
m
Ql
I-		 at
0
C
5
C
ttf
N		 0
Ql
ttl		 ln
0
IU
(n		 0
o
O
Ql
(0
41		 0
00		 0
IL
2
mJ		 000
ta
ta
C
00
0
IU		 Z
d		 m
o		 al
UI
0
'0
ttl
0
al		 0
cn		 0
t(l		 L0
EL
UJ
N		 0
at
0
O.
O.
UJ
N0		 000
al
41
UJ
(n
IU		 ttf
t(I
ln00
(L
th
m
41
ill
JD
41		 04
JQ
m
IL		 C0
al
41
ta
al
F
0
IL'		 00
C
N
0
0
E
fc
CE
m
(0
ta
0 Z
mo.
(0 0		 0
41
m
00
Cl
P
41
E
IU		 01
la
E
O
C0C
al
4I
0
Ql
01
E		 al
EL05
tf
Ql
O
f/1
(0
Ql
0L
Ql
40
Ql
E
UJ		 m
Glal
E
0
m
0
rn		 0
ta
ln		 41
mal
al
IL		 Ql
E
E
al
QD0
O.
UJN0L
m0
Ql
(L		 fa0
o
fTl
m
Ql
O		 (L0.
ttf
m
al
QE
C
41
E
0
at
0.		 C
0
E
O0.
0
ttl
m		 0Z0
IL0
IU
0
Ol
L'J
0
EJ
EL0
EJ
LU		 E00
0(Z0(
C(		 IU IL
Z
0%
o»
I- IU
fn z
I- Z
0 0
Z IL
0)
IA
00
CI
14 '0 ul 0
O
0		 CD
CO
0		 ' CO
IA
CD		 CD
CO
CQ		 CO
N		 CO
N		 CO
N		 CO
N		 CO
(1		 CO
N		 CO
(1		 CO
CQ		 Ct
to
IA		 ' IA
ct
Ct		 tO
aa		 0
af
CD		 N
to
01		 ' ' CO
IA		 LO
IA
O		 ' O
LA		 Ct
O
0 0 IA
CO		 IA IA IA IO IA IO IA IA IA CO
CO		 CO CD CQ I N CQ N Ct
IA		 01 IO
Ih
Ql
lh0
laI-
O'
'(
0Z		 41
Fl
x		 IA
CD		 tO
0
(
N		 CD
at
I
IO
N		 CD
CO		 I
Ct		 IA N
CQ N
CQ N
CQ
LA
CQ
lo
N
COD(00000(0
tb
CO		 N
CO
I		 N
CO
I
0
N		 I
LA
O
IA		 O
N		 CD
01
CO		 O
N		 Ct
IO		 I
N
CO
I
CQ		 tO
01
CO
CQ		 01
I
LA		 I
tD		 0
0		 CtO
00
tb		 01
(0		 NN
I
Ql
E0V0 tblo
tb		 CO CO
IA		 'll
N		 N
CO		 01
0		 0
IA
N		 0
Ol
O		 0
IA
N		 0
L(l
N		 0
IA
N		 0
L(l
N		 CO
CO
CO		 0
IA
N		 OO
O		 l(l CO 0
Cb
IA		 I CO
I
I		 I
0,
IA
'		 I
a
IA		 N
CO
Ct		 01
IA		 LA
tO		 CO
Ct
CO		 Cb
N
CO		 O
0
IA		 ID 01
Cb
Ct
lo tD 01 to CD to co ao CD CO I Ct CO CO CO N 01 CO O
LO		 tO N
Z
01
E
(0		 QI
la
0
IL		 ul ID
I
N
N(Oat
aO
CO		 CD 0
NI
NN
Ol
CO		 I
CO
CON
(		 O 01
OlN
CO		 ~O
co
CD		 af
CO		 N
tD
01		 CO
N
CO
I		 CO
LA
CO
0
01		 0
Ct
IA
CQ		 CO
Cb
CO
N		 I CQ
Cb
Ct		 CO 0
CO		 O
Ct
0
CO		 I
IA
CO
IA		 N
CD
ICt
CD
'0 '0
mh
0 0		 cu O
O
O		 CO
CO
01		 ' CO
IA
01
IA
CO		 N
lo		 CQ
IA		 N
lo		 CQ
IA		 N
lo		 CQ
IA		 N
lo		 CQ
IA		 N
lo		 Cl
CD
IA		 ' lo
O
0
CO
CD		 CD
CO
tD		 0
tb
Cb
CO		 CQ
CD
01
N		 ' ' CO
tb
IA		 I
IA
N		 CO
01		 N O
O
O
O		 CO
Cb
CD		 CO
lh
41
Ih0
laI-
0 41
'00
0.		 IA
co		 at
0
(
N		 CD
at
I
IO
N		 CD
CD		 ct IA N
CQ N
CQ N
CQ
LA
CQ
ID
(1
COD(00000(0
tb
CO		 N
CO
I		 N
tO
I
0
N		 IA
O
IA		 O
N		 CD
CD
CO		 O
N		 Ct
CO
CD		 N
CO
IN		 CD
Ct
N		 CD
LO		 I
CO		 I
0		 Ct
D
00
tb		 01
CO
X
(g IU
Ql
E0V0		 ul o
Ct
CO		 CD tO
LA		 0
N		 CQ
PD		 01
0
I
IA		 0
LO
N
CO		 0
01
0
Ol		 0
LO
N
CO		 0
IA
N
CO		 0
LO
N
CO		 0
IA
N
ca		 at
tD
CO
cb		 0
IA
N
CO		 0
O
O
CO		 CO
LA
II		 N
CO		 0
01
LO
CO		 CO ~O
I
CD		 I
LA
0
CO		 ' I
g
N		 N
D
tD
Cb		 IA
01		 LA
CO		 Ct
Ct
Ct		 CD
N
CO
CD		 O
0
IA
N		 000
LL
~0
LU
LL
LL		 Z
lo		 '0
IL		 ID
I
N
CQ
CD
CO
tbaO
CO		 CD N
I
N
I
CO
NONE
Ol
CD		 CO
CQ		 0 01
01
N
CO		 Ct
Ct
01		 I
CO
CO		 CQ
CD
01
N		 to
tO
N
CO
I		 at
LO
Cb		 O
LA
N		 N I( CQ
Cb
Ct		 to
CO
N		 LA
CO		 D
D0
CO		 lo
CO
IA		 CO
01
ICl
CD
CI
(0
LL
CI
IA 0
LL
00
O
cL'
IA
LU
CI
IA
Ci		 aaal
I
Cl
O0
QlII0
4
N
Cb
«I
'Oh
E
C
N
CL		 N
al 8
I- I«
Z Z
IU tu
Z m
IU E
»C0
lh
m
O 0
E 0
Z tu
~( O
Z Z
IL Iu		 (00
IL0
UJ
0
(U
OJ
UJ		 ta
0		 C
QL
»,
QD
Ul		 (L
01
IU
C
00
Qo
V
0
'0
IU		 41
0
m Q
0
00
lb
Ul
(C		 (L
01
IU
C
TL
IU
(
0
lac
tll
E00		 0
0
m
1O
C
IL
Ql
(u
Ql
u		 5
Qt		 O
0
m
M
al		 0
0
LL
C
E
Qt
Ol
0		 00
af
N
NN
0 «(
0
tlf
0, 0
0co
UJ
to
ID»		 al
0
0
E
UJ		 m
0
0		 al
E
0		 N
0
L
z-
m o.
Z (0		 41tf0
JO
tb
O 0C
5
ANN
N
Q
Qt
'0
41
af
I—(0		 000
la
41		 00
la
0
C
0
NZ
0		 m
00
C
th		 000
al
41
0
IU
0
'0
0
la
0		 cr
m
c
«(		 +
0
(0		 L
O
0
IL
IU
(0		 0
al
41
41
EC0
IU
41
01
al
E
IU		 C
tll(0
00
IL
Ql
th
Ql0
ta
JO
Ql		 C0
al
41
th0
alOCN
al
41
al		 E
la
taI-
af
Z		 0
1O
(0
al
m
c
(0		 O
0
0
CA
41
at
la
E
m		 00
al
IL
IU(0
UJ
IL
«(
C
E
0
al
0C
0
U
Ql		 0O.
CA
W (0
Ul
UJ
LL IL
0 (3
O 0
la
ta
C
C
u
u.
0 0
ITI
al
C
O(3		 41
Ih
(L
N
41
0
Ql01
0
E		 0
01
al
O
C0C
m
tll
0
00		 ia
E
41
0
Qt
O
th
0
ca
Qt
0
tb
QD
41
E
UJ		 L
0
ta
0
tlf
E		 N
ta
0
E
tlf
CA
0		 O
NC00
Ql
0
00
Qt
OI
00Z
0
la
00
GL
0.		 E
m
0		 0
ta
1O
0		 O
Ql
O.000
Qltf
ta
JO
L
0
Q		 0
lh
41
Q		 41
E
E
al
QD0
O.
UJ
CA0L
N0
mQ 0		 N0
0
N
N
41
0		 lb
LL
O.
tlf
N
4&
OL
41
E
O
at
O.		 01
»,
ta
O.
la
0		 C
Qt
E
Q0
jt
4&
CI		 OZ
O
IUI-0
IL'I-
ID
IU
(U
0I-
0)
EL0
0)		 E00
«(Z		 IU IL
Z
«%
O»
I- IU
lh Z
LU «(
~(		 I-
0
Z		 Q
0
IL
ALFANAR (Company
limited
by guarantee
no. 05141900)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Shatila Studio
provides
dignified
employment
to Syrian
refugees
inside
the Shatila
refugee
camp
in Beirut
by employing
them as		 artisans
in
needlework,
embroidery
and textile production.
This investment
is supported
by an individual
supporter.
Expenditure
was on hold
in 2021 awaiting
a new business
plan. Disbursements
resumed
in 2022.
WPA Nawras
Pre-School is the culmination
of a multi-year
investment
with the Women's
Program Association
(WPA) in Burj al Barajneh
that led
to the creation ofthe Soufra catering
unit and foodtruck,
microloans
to women
in the camp and the establishment
ofthe Nawras
preschool		 providing
early childhood
education
to around
100children.
In 2020, Alfanar concluded
its venture
philanthropy
investment
in WPA thanks to the		 support of
generous
individuals.
Separately,
as part of our Emergency
Lebanon
Appeal,
we worked
through
Soufra to provide
hot meals to hundreds
of
families impacted
by the Beirut blast. Funds received
late in 2020 were held
in 2021 while we discussed
with WPA and agreed the best		 use for the
investment.
These funds were disbursed
in 2022.
Al Ghurair
Foundation
for Education
(AGFE) is focussed
on providing
support
to refugees.
It is helping
to fund
our work amongst		 refugees
through
MMKN and SEFactory.
It provides for grants to be made and covers part of our technical assistance
staff costs relating
to these		 investees.
This two year project commenced
in August 2019.
Emergency
Response
Funds.
During
2020, Alfanar
ran the Survive
and
Thrive
campaign
in response
to the COVID-19 pandemic
and
the
Emergency
Lebanon
Appeal
in response
to the 4 August 2020 Beirut port explosion.
Emergency
projects supported
by these campaigns		 included:
facemask projects, foodboxes and hot meals to vulnerable
families.
Disbursements
in 2022 provided
finance
and
programme
support
to local social enterprises,
March
NGO,
L'Artisan
Du Liban, Tabshoura
and
Inaash. The total carried forward
in this area is f90,827 (2021:f161,817), has been disbursed
in 2023 to Emergency
food programmes		 (f70,083)
and the final payments,
in line with their agreements,
to the four social enterprises
funded
in 2022.
PLAN-Mubaderoon
Project is an EU-funded
project that enabled
Alfanar to train
and
build the capacities
of 60 growth-stage
social enterprises
focused on women's
empowerment
across East Amman,
Ajloun and Tafileh
in Jordan.
This project finished
in September 2021.
Palestine.
This fund,
provided
by Asfari
Foundation,
is to enable
us to expand
our work to social enterprises
based
in Palestine.
In 2022 we
identified
suitable
social enterprises
and set up our first SEED cycle providing
training,
mentoring
and the first award
payments
to six		 successful
social enterprises
completing
the programme.
This is also funded
from our Palestine
designated
fund
Accelerate
Study
Missions
expose our social entrepreneurs
to best-in-class
social enterprises
in the developing
South
achieving		 scale and
sustainability
in their
respective
sectors.
They were
postponed
in 2020 due to COVID-19.
They are generously
supported
by a		 generous
individual.
In 2022 we took two investees
to a market
exploration
event
in London. 2021 we ran a market
place investigation
with
two		 Lebanese
social enterprises
partly supported
by Institute Francaise.
Impact
Investment
pre start-up
Fund
represents
pre-start-up
ecosystem,
pipeline
and
investment
strategy
analysis
aimed
at supporting
the
eventual
launch
of an impact
investment
vehicle to extend the financing
life cycle for investor-ready
social enterprises
across the Arab		 region.
In
2021 this investment
received
support
from
the IFC and a private foundation.
In 2022 the project was supported
from Alfanar general
funds, other
than some legal costs covered
by an individual
donor.
Alfanar Capacity
Building
Fund was made possible
in 2021 by the generous
donation
of an individual
supporter
who restricted
their donation
to
support
Alfanar's
growth.
Alfanar
Development
Fund.
Alfanar
received
a generous
three-year
grant
in 2019 from The Asfari
Foundation
to support
the
growth
and
strengthening
of Alfanar's
staff and business
model.
It includes
funding
for the development
and digitisation
ofASSET modules,
hiring fundraising
and other support
and investing
in staff development.
Delays
in 2020 arose as we pivoted
our focus to respond
to the pandemic
and		 the Beirut
blast; this development
programme
resumed
in 2021 with a new budget agreed
with Asfari. 2022 expenditure
allowed
us to use some of the funds
towards
our much
needed
new system
for donor relationship
and grant management.
The fund carried
forward
balance
will be used		 in 2023 to
cover digitisation
of our ASSET modules.

16. DESIGNATED DESIGNATED DESIGNATED FUNDS (Group and Charity) and Charity)
Current year Brought Transfer Carried
Forward Income Expenditure New Assets Forward
f
Tangible Fixed Assets 2,631 (1,117) 1,836 3,350
Palestine Fund 50,000 (23,101) 26,899
TOTAL DESIGNATED
FUNDS 2,631 50,000 (24,218) 1,836 30,249
The Fixed Asset Fund represents the net book value of tangible fixed assets in use and therefore not available to meet future expenditure.
The Palestine Fund represents an unrestricted
donation		 from an individual supporter
who		 was keen to support our new oportunities in Palestine.
The board agreed to designate these funds for that purpose to be spent by the end of2023.
Prior Year Brought Transfer Carried
Forward Income Expenditure New Assets Forward
f
Tangible Fixed Assets 3,680 (1,049) 2,631
TOTAL DESIGNATED
FUNDS 3,680 (1,049) 2,631
17. MOVEMENT OF FUNDS IN THE YEAR
Current year (Group)
Income Expenditure Transfers
1 January 31 December
2022f 2022
Designated funds 2,631 50,000 - 24,218 1,836 30,249
General fund 244,544 1,489,993 - 1,074,154 - 1,836 658,547
247,175 1,539,993 - 1,098,372 688,796
Restricted funds 757,047 963,860 - 954,513 766,394
TOTAL FUNDS 1,004,222 2,503,853 - 2,052,885 1,455,190
Current year (Charity)
Income Expenditure Transfers
1 January 31 December
2022f 2022
Designated funds 2,631 50,000 - 24,218 1,836 30,249
General fund 233,950 1,482,675 - 1,066,143 - 1,836 648,646
236,581 1,532,675 - 1,090,361 678,895
Restricted funds 749,799 963,860 - 954,513 759,146
TOTAL FUNDS 986,380 2,496,535 - 2,044,874 1,438,041
Prior year (Group) Brought Carried
Forward Income Expenditure Transfers Forward
1 January 31 December
2021 2021
F f f f
Designated funds 3,680 (1,049) 2,631
General fund 226,970 787,793 770,219 244,544
230,650 787,793 (771,268) 247,175
Restricted funds 607,923 1,338,977 (1,189,853) 757,047
TOTAL FUNDS 838,573 2,126,770 1,961,121 1,004,222
Prior year (Charity) Brought Carried
Forward Income Expenditure Transfers Forward
1 January 31 December
2021 2021
f f f f
Designated funds 3,680 (1,049) 2,631
General fund 226,970 787,793 780,813 233,950
230,650 787,793 (781,862) 236,581
Restricted funds 607,923 1,313,099 (1,171,223) 749,799
TOTAL FUNDS 838,573 2,100,892 1,953,085 986,380