Charfty number: 1110735 NUZHAT ZAKI CHARITABLE EDUCATIONAL AND WELFARE TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 NUZHAT ZAKI CHARITABLE EDUCATIONAL AND WELFARE TRUST CONTENTS Page R8ferenc• and admlnl8tratlva d8talls of tha Charlty. It• Tru8tae8 and advlsers Tru8tO0•' report Indepondent examlnorf• rnport Ststsm•nt of flnanclal actlvltlo• Balanc• •h••t Nots• to the flnanclal 8tatomonts 9.17 NIJZHATZAKI CHARITABLE EDUCATIONAL AND WELFARE TRUST REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Tn*te6s Dr N N Zakl, Trustee Dr M Zakl, Trustee Mr D A Zaki, T￿￿tee Dr N Kh8n. Trustee Charlty reglstered number 1110735 Principal office Pax Hill Bentley Famham Surrey GU10 5NG Ac¢ountants Shaw Gibbs (Audit) Limitad Wey Courtwest Union Road Famham Surray GU9 7PT Bankers HSBC 33 The Borough Famham Surrey GU9 7NJ Page 1 NUZHAT ZAKI CHARITABLE EDUCATIONAL AND WELFARE TRUST TrUSTEES' REPORT FOR THE YEAR ENDED 31 PIARCH 2024 The Trustees present their annual report together with the financial statements of the Nuzhat Zakl Charftsble Educalional And Welfare Trust for the 1 Aprll 2023 to 31 March 2024. ObJoctlve8 and actlvm a. Pollcle• and obloctlvo• The prfmary objects of the Trust are towards the aokncement of educakn, the rellef of slckness and the rellef of povety, hardship and distress In India or 81￿here throughout the world by Such exclusNely charitablo mean8 as tha trustaes shall from tSme to Ilme detemiine. b. Maln acllvttlo• undortakon to furthw th• Charfty• purpo8•• for tho publlc bonefft The charlty has acted for th8 benefit of thè publlc throughout the year by provkllng 8UPPQrt and educallon to poor and under-prmleged Indlvldu In settlng objectlves plannlrfj acthltias. tho T￿￿te88 have 9lven dua conthratlon to general guldance publlshed by the Charlty Commlssion relatlng to publlc benefiL Achlovements and prfornmn Revlow of Acllvltl•• Du8 to a daath and Sorlous Illness In the famlty of thè makn trustees, It wa8 extr8m8ty dlfflcult for the charity to r88earth and support projects in the ywr a8 planned. Durfng the 2023 - 2024 finandal year. th8 ¢*arlty wa8 able to fijnd an urgont surgery procedure a8 part of its charitabl8 acuvltles. The charfty Is currenty plannlng fvrther trlps to Indla In Iho cornlrrfJ year In order to revi￿ and 8UPPOrt further projects of slmllar and related issue& Flnanclal rnvlow a. Golng concern After maklng approprfate enquitss, the trusle88 have a reasonable expectakn that the charity has adaquate re80urces to contlnue In operational ex*tsnce for the foreseeable future. For this reason they continue to adopt the going concern basls In preparing the financial ststements. Further details regarding the adoption of the golng concem basis can be fDund In Accounting Pollcle b. Re8ervas pollcy The charity rwiows fts reserves on a regular ba* WKI ojrrenty has sufficknt reserves to support the expethd athltles. The Charity reserves are Invested in the capltal base of 113 property ￿th[lo. It therefore has a policy of di3tributlng all reserves that are not being allocatsd for reinvestment Into the property portfollo. Page 2 NUZHATZAKI CHARrrABLE EDUCATIONAL AND WELFARE TrUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 c. Flnanclal rev During the year the charfty continued to receive rental Income from the inveslment properties as well as donations. Income has inuea8ed during the year to £29,891 (2023: £25,599). The Income has been able to 8UPPOrt the activities for the charity during the year and the nel Incorm has been carrled foTrvard 10 8UPPOrt tho future work of the charity. Con•tltuUon The Trust was created by a dead datad 19th December 2004 and amended by a 8upplementsl deed dated 1st Juty 2005. The Tru8t18 reglstered under th8 Charlttes Act 1993, Charfty Reglstratlon Numbor 1110735 wlth effect from 5th August 2005. b. Moth¢)th of appolntm•nt or •lectlon of Tnmt A tru8t88. or n•w trusto8s. nw be appolnted at any timé (81thor by w of replacement or addftlon), but so that the total number of Iru8tao8 shall at no tlme exceed four. A trustse may b8 appoSnt8d or d18¢harged ty a re8oluOon of a meeung of the tru8t888, provlded that memorandum declaring such appolntrnent or dlschafge shall ba signod 35 a deed, ellher at the meeting by the person pre8idlng or In other manner dlrected by the meatlng and attested by tsyo other personnel present at the rn￿ftg. ¢. Organl•atlonal 8tnKtur• and decl•lo￿kIng polkle• The trustees will rnVI￿ projects that are Inlln8 wlth the charfUeB obJectlv88 and make a dedskn as to the level of suP￿rt to provfde and for what tsmi Plan• lor futur• p•rfod• The Charity believes that to sustain the woth tt * dolng, It wlll malntaln and manag8 its current prowty portfolio In order to continue to generate regular k)TrJ terni InccKna, to use for Its charltable purp03e. Page 3 NUZHAT ZAKI CHARITABLE EDUCATIONAL AND WELFARE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Statement of Trustees. responsibilities The Trustees are responsible for prepanng the Trustaes. reporfr. and tle financial statements in accordance with app5icable law and United Kingdcffl Accauniing Sta,-da*ds {Unrteil Kingao.m Generally Accepted Accounting Practice) The law applicable lo ckiaritiei If. in- .a,1d & Wale eqkniies the Trustees lo prepare financial statements for each financial which give a twe and fair view of the slate of affaifs of the Charity and of tls incoming resources and applicat50n of resources. inclJi ding ils incame 8￿r4 Jxpeid.ture. f.)r that pèriod In preparing these financial statements. the Ti LSLeri are reqL'ired la.. select suitable accounling policies and then apply them consistently, observe the methods and principles of the Charities SORP IFRS 1021.. make judgments and accounting estimates that are reasonable and prudent.. slate whether applicable UK Accounting Standards IFRS 1021 have been followed subject to any material depa[*. Jr•s disclosed an=. ax"',ai.-ed io IP)e fIna￿CIal sialements.. prepare Ine financial statements on the goin J concern basis unless it Is inappropriate to presume that the Charily will continue in business. The Trustees are responsible for keeping ad￿uate accounting records thal are sufficient to show and explain the Charity's transactions and disclose with reasonahle accuracy at ap,y time the fiiianc5al position of the Charity and enable Lhern to erisuire Inat Ihe financial siaiepneSi&S coniply wrth the Charities Act 2011. the Charity (Accounts and R-p.J¢LS' Regulations 2008 a?1 d the provisions of Ihe i ust deed T*ey 2re also responsible for safeguarding the 2>sets of the Charity and hence fo." taking reasonable steps for the prevention and detection of fraud and other Irregularities. Appr d by order of Ihe members of the ooard of Trustees and signed on their behalf by.. MrDAZaki (Trusteel Dale 17.01.25 Page 4 NUZHAT ZAKI CHARITABLE EDUCATIONAL AND WELFARE TRUST INDEPENDEKf EXAMINEWS REPORT FOR THE YEAR ENDED 31 IIARCH 2024 Independent Examlnerfs Report to the Tn*teM of HU￿￿t Zaki Chavltabh Educatlonal And Wowarn Trust fthe Charfty) I report to the charity Trustees on my exarrdnati)n of the xcounts of the Charity for the year ended 31 March 2024. R•spon8lbllltles and Basls of Report As the Tntstees of the Charlty you are responsible for the prepaTation of the a￿)Unts In accordance with the requirements of the Charities Act 2011 (Yhe 2011 Ad). I report in respect of my exarTMnation of the Charitys accounts carried out under section 145 of the 2011 Act and in carrysng out my examination I have followed the appllcable Directions ty the Charity Commhslon under section 145(5)(b) of the 2011 kL Page 5 NUZHAT ZAKI CHARrfABLE EDUCATIONAL AND WELFARE TrUST INDEPENDEKf EXAMINER'S REPORT (coKllNUED) FOR THE YEAR ENDED 31 AIARCH 2024 Indopendent Examinorfs Statement Your attentDn is drawn to the f8Ct that the Charfty has prepared the accounts in accordance with Accounting and Reporting by Charities." Statsment of Recommended Prnctice applicable to charitses preparing thdr accounts in accordance with the Fmancial Rewling Standard appI￿able in the UK and Republic of Ireland (FRS 102) in preference to the AccountirvJ and ReF￿ling by Charth￿: Statement of Recommended Practice Issued on 1 Apnl 2005 which ts referred to in the extant regulations but has been withdraw l understand that this ha8 been done in order for the accounts to provide a tru8 and fair view in accordance with the Generally Accepted Accounting Practice effeclive for reporting periods beginnin9 on or after 1 January 2015. I have completed my examination. I confimi Itr￿ no matters have come to my att￿tion in connection with the examination giving me Gause to believe that in any rrAtarial fBspect accountlng records were not kept in respoct of the Charity as rnquired by section 130 of the 2011 Act or the accounts do not accord wilh those records; or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out th the Charities 1. 2•z< FCA Steptr￿ South Shaw Gibbs {Audltl Umited Wey Court West Union Road Famham Surrey GU9 7PT Page 6 NUZHAT ZAKI CHARITABLE EDUCATIONAL AND WELFARE TRUST STATEMEKf OF FINANCIAL ACTivmES FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted funds Total funds 2024 Total funds 2023 Incomo from: Donatlons and legacies Charitable athities 10.IIM 19,791 10,100 19.791 7,503 18,096 Total Income 29.891 29,891 25,599 Expondlturn ¢)n: Charitable acbvl 18.689 18,689 6,962 Total oxpendlturn 18,689 18,689 6,962 Net tn¢om• beforn n•t108808 on Invesknents Net losses on Investrnents 11302 11,202 18,637 (20,000) Not movenwnt In funds 11302 (1,363) Roconclllatlon of funds: Total funds brought foTh¥ard Net movernent in fvnds 396.302 396,302 11202 397,665 (1,363) Tolal funds carrled foThvard 407.504 407.504 396.302 The Statement of FinancRI Acts￿ Indudes all gains and losses rwni8ed In the year. The notes on pages 9 to 17 form part of these finandal stateff*nts. Page 7 NUZHAT ZAKI CHARITABLE EDUCATIONAL AND WELFARE TRUST BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Noti. Fixed assets Investment property 320,000 320,000 320.000 320, 000 Current assets Debtors Cash al bank and In hand 850 88,150 1.320 77.582 89,000 78.902 Credilors. amounts falling due within one year 10 11,4961 (2. 600) Net current assets 87,504 76,302 Total assets 1868 current Ilabllltles 407,504 396.302 Total net assets 407.504 396,302 Charlty funds Restricled funds Unrestricted funds 407,504 396,302 Total funds 407,504 396, 302 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. MrDAZaki (Trusteel Oate. 17.01.25 The notes on pages g to 17 form part of these financial slaternents. Page 8 NUZHATZAKI CHARrrA8LE EDUCATIONAL AND WELFARE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounllng pokle8 1.1 Basls of prepqratlon of flnanclal ststements The finan￿￿ statements have been prepared in accordan￿ with the Charities SORP (FRS 102) - Accounting and Reporting by Charitsgs: Staterr￿t of Recommended Practice applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effethe 1 January 2015), the Financial Reporting Standard applicable in ts UK and Republic of Ir&nd (FRS 102) arml the Charltles Act 2011. The financknl staterr￿rrts have been prepared to give a and faif view and have departed from the Charit*s (Accounts and Reports) Regulations 2008 onty to the extent requlred to provide a 'tru& and fairf vlew. This depaTbJre has involved following tha Charities SORP (FRS 102) publlghed on 18 July 2014 rdther than the Accounting and Reporting by Char￿85. Stat￿t of Recommended Practi￿ effective from 1 April 2005 wlith since been wilhdrawn. Nuzhat Zaki Charitable Educatiord And Welfar8 Trust meets the definibon of a pubfic benefft entlty under FRS 102. Assets and liabilities are initHlly recognised at historical cost or transaclion value unless otherwise stated In tha r&vant accounting pow. 12 Income All Inco￿ is recOgn￿ed once the Charity entillement to the income, it is probable that the income will be re￿iVed arKI the amount of Incoff￿ receivable ean be measured reliably. 1.3 EX￿ndItUrn Expenditure is recognised once there Is a legal or conthKtive obligation to transfer e¢0￿MiC benefit to a third party. it is probable that a lrnnsfer of economic benefits wll be required in setuement and the amount of the obligation can be measured rellably. Expenditure is classified by activty. The costs of each acaivity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each ac￿. Direct costs attributable to a single activ6ty are allocated dlrecty to that actmty. Shared cO￿S whlch contribute to more than one activty and support costs whlch are not attribulable to a single aclivity are apportioned between those actsvitses on a basis consistent with the use of resources. Central staff costs ara allocated on the basis of time spen( and depreciation charges allocated on the portion of ts assefs use. Expenditure on charltable actsvltses is inajrred on dlrecty undertaking the activitles which fijrther the Charitys obiethes, as well as any a%8QCthted support costs. All expendttijre ￿ indusive of Irreco￿ VAT. 1A Intorest recelvable Interest on ￿ndS held on deposit is Wtr￿n receivable and the amount can be measured rellably ty the Charity, this is nonnally upon no*ficatson of the interest paid or payable by the institutson with whom the fvnds are depo&tsd. Page 9 NIIZHAT ZAKI CHARITABLE EDUCATIONAL AND WELFARE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PIARCH 2024 Accounllng polkles Iconllnued) 1A Forelgn currencles Monetary assets and 11a1￿￿188 denominated In foreign currencies are trans￿ into sterflng at rates of exchange ruling at the reporting date. Trans8ctlon8 In forelgn curr8ncles we trans* Into Sterflng at the rate rullng on t￿ date of th8 transaction. Exchang8 9aln8 and108888 are recogntsed In the Slatement of financlal acMe& 1A D•btorn Trade and other debtors are recognlsed at the settlemenl amount after any trade d18count offered. Prepayments are valued at amount prepald net of any trade d18counts du 1.7 Ca•h at bank and In hand Cash at bank and In hand Indud88 cash and 8hort4erm hlghly Ilquld Inv8Stm8nts wlth a Short maturfty of three ff￿ths or1888 from the date of acqulsltion or opening of the deposit or slmllar account 1A LLqbllMl•s and provl•lon• Uabilill88 arn r8c4gn180d when thero16 an owatlon at th8 Balan￿ Shaot date as a rn8uIt of a past even( It18 probabl8 Ihat a transfer of economic benefit wlll b8 required In 8etttemen( and the amount of the 8etttement can be estimated reliabty. Llabllltte8 aro roc¢gnised at the amount that the Chafity antidpates ft ￿11 pay to sott18 tho debt or th8 amount tt has received a8 athanced payments for the goods or seNIc88 tt mu8t provlde. 1.9 Fund accounllng General fund8 are unrestrided funds vthich are avalable fr)r use at the dlscrnuon of th8 Trustees In furtherance of the genwal obi8ctsve3 of the Charfty 8nd which hwe not been d8819nat8d for other purpose& Page 10 NUZHAT ZAKI CHARITABLE EDUCATIONAL AND WELFARE TRUST NOTES TO THE FINANCIAL STATEMENrJ FOR THE YEAR ENDED 31 fyI4RCH 2024 Voluntary Income Totsl funds 2024 funds 2024 Donations 10,100 10.qOO Unre8tiicted funds 2023 Total fvnds 2023 Donations Other Incom6 Unrestrlcted funds 2024 Total funds 2024 Rental Income Interest 19,734 57 19,734 57 Total 2024 19,791 19.791 Tt)tal fvnds 2023 funds 2023 Rental Income 18,096 18,096 Page11 NUZHATZAKI CHARrrABLE EDUCATIONAL AND WELFARE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expendlture on charitable activitles Summary by fund typo Unrestrlcted funds 2024 T¢Jtal 2024 Charity activities 18,689 18,689 Unrnstsict8d fvnds 2023 Total 2023 Charity 8Ctivitias 6,962 6,962 Anatysls of expondlture by actlvlti88 undertaken dlrecty 2024 Support Total funds 2024 2024 Charity activities 17,132 1,557 18.689 undertakon directly 2023 Support costs 2023 Total fvnds 2023 Charity activlties 5,262 1, 700 6,962 Page 12 NUZHATZAKI CHARrrABLE EDUCATIONALAND I*ELFARE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IIARCH 2024 Anaty818 of expendlture by actlvltles (contlnued) An•ty818 of dlrect cos18 Total lund8 2024 Actlvttl8• 2024 Medkal grants Repairs and malntenance Donation8 gNen Management fee8 364 12,838 120 3,810 12,838 120 3.810 17.132 17.132 Total funds 2023 AcllwU88 2023 Repalrn and malntenanco Donatlon8 glvan Management fees 2.249 120 2. 893 2,249 120 2,893 5,262 5,262 ATr4￿1• ofsupport costs Total lunds 2024 2024 Bank charges Accountsncy fee8 Forelgn exchange difference 149 1,400 149 1AOO 1,557 Page 13 NUZHAT ZAKI CHARrrABLE EDUCATIONAL AND WELFARE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PIARCH 2024 Anaty8i8 of expenditure by acllvllles {contlnued) Anaty8i8 of 8UPPOrt costs (contlnued) Total funds 2023 AcNvltl8S 2023 Bank charges Accountancy fegs Sundry 120 120 180 1,700 1, 700 Independent examlnerfs remuneratlon 2024 2023 Fees payable to the Charitys Independent WAaminer ft)r the independent examlnation of the Charftys annual accounts 1,400 Trusteos. romunorallon and •xpen868 During the year, no Trustees rec8Sved any raff￿neratiOn or other benefits (2023- £NIU. During the year ended 31 March 2024, no Trustee expenses have been incurred (2023- £NIU. Page 14 NUZHATZAKI CHARITABLE EDUCATIONAL AND WELFARE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Inva81ment property Frnohold Investment property Valuatlon At 1 Aprfl 2023 320,000 At 31 March 2024 320,000 The 2023 valuatlon8 were made by Pear30ns Estate Agents, on an open market value and exlstlng use Dobtor• 2024 2023 Other debtor8 860 1,320 10. Cr•dltorn: Amounts falllng du• wlthln on• yoar 2024 2023 Other cr8dttors Accrnals and defèrred Income 1AOO 2,600 1h96 2,600 Page 15 NUZHATZAKI CHARITABLE EDUCATIONAL AND WELFARE TrUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Statement of funds Statement of funds . cuTrnt year Balance at 31 March 2024 Balance at 1 Aprfl 2023 Income Expendlture Unrostrlctsd funds General Funds- all funds 396,302 29.891 118,689) 407,504 Statement of funds . prlor year Balance at 31 Ma￿h 2023 Balance at l Apnl 2022 Galnsl (Losses) Incoma Exp8nditu Unrestrlctsd lunds General Funds - all funds 397.865 25,599 (6,962) (20,000) 396.302 11 Anatysls of net assets I￿tWeen funds Anatysls ot net assets between funds - current period Unrnstrfcted funds 2024 Total funds 2024 Investrnent propety Currant a888ts Creditor5 due within one year 320,000 89,000 (1,496) 320000 89MOO (1 A96) Total 407,504 407,504 Page 16 NUZHAT ZAKI CHARITABLE EDUCATIONAL AND WELFARE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11 Anatysts of net assets betrmen funds (continued) Anaty8ig ol net assets botween funds - prior pgrlod Unr8Stricted fvnds 2023 Total funds 2023 Investment property Current assets Creditors due within one year 320.000 78,902 (2,600) 320,000 78,902 (2,600) Total 396,302 396,302 Page 17