Charlty reglstratlon number 11145591England and Wales) Company reglstratlon numb8r 05818995 MIDLAND DOCTORS ASSOCIATION UK ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 MIDLAND DOCTORS ASSOCIATION UK LEGALAND ADMINISTRATIVE INFORMATION Trustees Dr S Y lftikhar (Chair) Dr J Ahmed Dr A Rashid Dr K Latief Mr S Hussain Dr Z Sheikh MrAA Najib MrlAIi MrRUAmin Ms T Kent-chapman Mr M Altaf Dr F Rashid Se¢retary DrA Rashid Charlty number (England and Wales} 1114559 Company number 05818995 Prlnclpal address 11 Snelston Crescent Littleover Derby DE23 6BL Registered office 11 Snelston Cr8scent Littleover Derby DE23 6BL Ind8pendent examiner Philip Handley FCA HSKSG Audit Limited Charlotte House Stsniér Way The Wyvern Business Park Derby DE216BF Banker5 HSBC UK Bank PIC 1 St. Pete¢s Street Derby DE12AE MIDLAND DOCTORS ASSOCIATION UK CONTENTS Page Tru5tee5' ￿port Independent examiner's report ststement of financial activities Balance sheet ststement of cash flows Notes to the finanGial statements 10-23 MIDLAND DOCTORS ASSOCIATION UK TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present Iheir annual report and financial statements for the year ended 31 December 2024. The financial statements have been prepared In accordance with the accounting policie5 set out in note 1 to the financial statements and comply with the charily's governing documenl. Ihe Companies Act 2006, FRS 102 "The Financi21 Report£ng Standard applicable in the UK and Republic of Ireland" and the Charitles SORP "A£¢ounting and Reporting by Charities.. Ststement of Recommended Practice applicable to charlties preparing their accounts in accordance wtth the FinanGial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).. Objectives and actfvitles The charity's short-temi goals are: To expand thè Malnutrition Program across AJK. Provlding consultancy support to Bangrilla Communtty Hospital in Mirpur. Kashmir. Pakistan, which is run by The Umeed Welfare Trust (United Kingdom). a registered charity in England and Wales {charity number 1106147). The ¢harity's long-term goals are. To consider the regional impact of humanitarian healthcar9 work in Paklstsn and in partÉGular the Kashmir region. To consider working in partnership with olher agencies lo deliver humanitarian care, such as in Maiawi. The short-term goals are related to humanitarian medical relief work. whi¢h is also the vision and misslon of Midland Doctors Association. The long8r-terrn goal is a continuation of this theme and therefore, there's a relationship between the charitWs short- term and long-term goals. Strategies for achieving aims and objectives The concept behind Midland Doctors Associalion UK originated when a team of senlor Natlonal H8atth SeNIcè doctors flew to Pakistan to provide medical assistance in the wake of the powerful earthquake which struck northem Pakislan on 8 October 2005, killing over 87,000 and displacing over 3.5 million people. Having witnessed at first hand the suffering of the local people and the destruction of thèir medical facilttles. thè doctors were Inspired to establish this charity whose principal aims were to purchase, equip and operate a hospital facllity in the Kashmir region of Pakistan, and to raise public awareness of health issues affecting people in developing countries. The Gharity has successfully achieved ivs initial objectives and aims, and It currently is heavlly involved In the day Io day running and administration of projocts already completed in Pakistsn. A maternity unit is functioning well at Nur Goth Hospital and the charity contlnue to provide on golng support lo the pregnant women at this unit. The Citizen Foundation{UKJ, a registered charily in England and Wales, charity number 1087864 which is also known as TCF-UK, has been allowed by the charity to build a school on thèir land for lo¢al children of Nur Goth. The school building which was completed by TCF-UK continues to operate successfully and the s¢hool is run by TCF- UK. The charity worked in the Sindh area and in Khyber Pakhtunkhwa in the northwest region. Flood rel*f fijnds raised We￿ used for flood related issues and the Nur Goth Hospitsl. Public benefjt We have referred to the guidance contained In the Charity Commission's general guidan￿ on public benefit when reviewing our objectives and also in planning our future objectives. In particular, the Truslees consider how planned adivities will contribute ta the aims and objectives they have set. MIDLAND DOCTORS ASSOCIATION UK TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Volunteers Thg tmstees wlsh to express their heartfett gratitude to all the individuals and organisations who have don8led their time, money and services to the charity- Without the active support of these volunteers it would be impossible to realise the achievement of the vision shared by the trustees. Strategic report The description under the headings"Achievem6nts and performance. and "Financial reviev megt the company law requiremènts for the trustees to present a stralegic report. Achievements and perfomian¢e Significant activitl8S and achievements against objectivés As previously reported, the charity completed the construction of a hospital, now known as Midland Doctors Medical Institute, in Tandali District, Muzaffarabad, Kashmir, Pakistan in March 2013. The total cost of the hospital as at 31 December 2024 amounted to £2,108.506 (2023: £2.108.506). which includèd £Nil {2Q123: £3,520) incurred in the year under review as part of the ongoing improvement and development of hospStal facllities. The Nur Goth Village project. whlch was ¢ompleted in 2013, is constantly monitored to ensure that full benefit continues to a¢cru$ to the poorest families who occupy the houses constructed under the project. During the year the charitable company has received donated goods and servl¢es in furtheran￿ of ts operation81 activltEes and obje¢tives. Hospttal developments: During the year, the has purchased further angkjgraphy equipment as they are routinely performing coronary angiographs and stenting. Significant factors Firstty, the Midland Doctors Medi¢al InstilLlte utilises the majority of the charity's resources, as its main objecttve as an organisation is to support MDMI. The other two short term obj8Ctives do not take up significant resources. In terms of positive effects, the charity's capabilities have expanded over thè past twèlv8 months,. wé are providin9 more sarvi¢es and we are providing care that is not available in many parts of the Kashmir region of Paklstan. In fact, our Nutritlon Programme that aims at taking Gare of children with severe nutritional deficiency, does nol even exist in that part of the Kashmir region of Pakislan. As the projecl develops, the negative pressures are comin9 to the fore. As we are becoming more popular in the region. our senrlces are more wall known and people are linking us to better qualily of medical care. This then drives demand but then the shortcoming is that we don't have endless supply of resour¢e5. In view of the issue of financial constrainls, and in particular as fundraising is a key aspect of the source of funds, we have to always consider the implications of our services on our financial resources. Another negative factor is that we need to consider fundraising as ongoing activity, therefore as an organisation we have considered ways and means of diversificalion so that the risks of not being able to achieve our funds Ihrough fundraising are diversified. The Dubai head quarters that were opened during the latter stsges of 2018 have Continued to enharn￿ Ihfj ¢apability to achieve fund ralsing. Fundraising perfom?ance Mid18nd Doctors Association UK has a large network cluster, working with fundraisers, with whom trustees have worked tirelessly, both nationally and internationally. Through these networked contacts, funds were donaled during the year to 31 December 2024. In addition. fundraising and sponsorship events were also organised durin9 the year, whereby monies were raised from individuals and local wmpanies, with the costs of generating voluntary income being covered largely by sponsorship. It remains the Truslees. inlention to cover costs through further sponsorship and gfft aid refvnds. The remainder of the donations came directly from other benefactors and inslilutions. MIDLAND DOCTORS ASSOCIATION UK TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 erformanee Indicators The strategy of Midland Do¢lors Medical Instltute has been lo adhere to the key guidelines as allocated by the General Medical Council UK {GMCUK) in particular, the role of a doctor. The facililies are also incorporating international g¢Jidelines such as the World Health Organization's guidelines for theatre and surgical departments. The evaluation of Key Performance Indicalors would be beyond the s¢ope of this financial document. FinanGial review For the year 1st January 2024 to 31 December 2024, the result was a deficit £31,816 (2023: surplus of £136.578), decreasing the net assets to £3,112.637 (2023: £3,144.4531. Going conc6rn During the year under review, the COVID-19 pandemic ¢ontlnued to be a signifi¢anl risk to the global economy. Furthermore, with the ongoing conflict situalion in Palestine l Gaza, donations are likely to reduce in future periods. The trustees continue to monitor the Impact on the charitable company on an ongoing basis and note the success of the vaccination programme within Paklstan and the wider world. At the time of approving these financtal statements, the trustees do not consider COVID-19 to impact the charitable CoMpan￿S ability to continue as a going concern and consider the balance sheet to be appropriately valued. The trustees believe that the charltable company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of furiding or support will be more than adequate for the charitable company's needs. They have ct)nsidered a period of ￿e1ve months from the dato of approval of the financial statements, and believe that no further disclosures relating to the charitable oompany's ability to continue as a going ¢oncem need to be made in the financial statements. ReseNes policy ReseNes are needed to meet the day to day running costs of the hospital and to cover any unplanned other expenditure. The trustees consider that the ideal level of reserves as at 31 Decemb8T 2024 would be £650,000, equating lo approximately one year of charit8bFe expenditure (excluding capital expenditure). The free reserves at the year end amounted to £667,570 12023- £632,417) which 511 only £17,570 above the £650,000 target. In calculating the free reserves, the trustees have excluded from the total funds Ihe fix8d assets of £2,445,067 (2023.. £2,512,036). The trLJStees are satisfied with Ihe level of free reseNes al Ihe reporting date. Principal funding sourGes The principal fundraising is made from the internatlonal nehvork re8our¢es that have been built since Ihe formation of the charitable company. The Midland Doctors AsSociat￿On UK work is continually being promoted woddwide and thè Tnjstees are Gonstantly wod(ing with the network to ensure the fundraising ¢ontinues successfully. The Trustees consider the results for the year to be satisfactory and the charity continues to remain in a reasonable financial position. Plans for future perlods The charity will continue to raise further funds to meet the ongoing operational costs of the hospital, and further capital èxpenditure will be made to enlarge the hospital facility with the passage of time and needs of the local population. The thgrity is earmarked by the local govemment in Pakistan to manage the project of identifying molnourished children. Currently th8 charity is covering 5 villages around the hospital in Muzaffarabad, Kashmir, Pakistan and would expand on this project going forward to cover a wtder area. This will be done with support from Bangrilla Community Hospital, Mirpur. The charity's future plans include the purchase and management of equipment for coronary artery disease, primarily for stent operations. The charity will also support and develop the MD Dubai office lo support higher level offundraislng. MIDLAND DOCTORS ASSOCIATION UK TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structure, governance and managemenl The charity is controlled by its governing document. a deed of trust. and ¢onstÉtutes a limited Gompany, limited by guarantee. as defined by the Cornpanies Act 2006. The company, incorporatad under the Companies Act 1985 and 1989, is limited by guarantee and does not have a share capital. Ils registared number is 5818995. and the Company is also registered as a charity under the Gharities Act 1993, number 1114559. The truslees, who are also the director5 for the purpose of company law, and who served during the year and up to the dale of slgnature of the financial statements were: Dr S Y lftikhar (Chair) OrJAhmed DrA Rashid Dr K Latief Mr S Hussain Dr Z Sheikh MrAA Najib MrlAIi MrRUAmin Ms T Kent-chapman Mr MAltaf Dr F Rashid Recruitm&nt and appointment of trustees The Board ol Trusl88s consists of ￿e1ve members as at 31 Dècèmber 2024. The company's Articles of Associalion allow for Trustees to serve for a three year term. Trustees must retire at the annual general meeting following their completion of three years, setvice, but may stsnd for re-eleclton. The Board has the power at any time, and from time to time, to appclnt any person lo be a Trustee, either to fill a asual vacancy or as an addition to the existing Trustees. Any Trustee appointed holds office only until the next following annual general meeting, and then becomes eligible for reweleclion. Trustees are elected to the board in accordance wlth a voting system outlined in the charity'5 constitutional document. The responsibilities of trustees are allocated accordin9 to their skills, abilities and areas of interest. Induction of new Trustees Is glvÈn on an Indlvldual basis whère appropriate. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in thè event of a winding up. Organisation81 stnjcture The Board ofTrustees are responsible for administering the charlty. The finances of the charily are kepl under review at Trustees m¢etings, once every two months. MIDLAND DOCTORS ASSOCIATION UK TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Relationship wlth related partles All donatsd medical equipment is stored al the premises of M Najib & Sons Limited, 8 company in which a trustee, MrAA Najib, is a director. The transaction occurs at arms16ngth, as members of staff at M Najib & Sons Limited donate their charitable time to Ic*ad the equipment, in order to transport it over to Pakistan. Risk management The Trustees are aware of and continue to monitor any significanl risks facing tha charity and have put policies and controls in place to minimise or mitigate those risks. The Trustees are aware that the risks faced by the charity will evolve wilh the char¢ty's activities and the trustees will ensure that their risk strategy reflects these changes. The Trustees acknowledge thoir responsibilities in relats.on to Ihe charity's financial statements and accounting records. Funds hold as custodian trustee The charity holds no funds on behalf ofothers. Freeholil property The land purchased in Tandali, District Muzaffarabad. Pakistan was held in the name of Dr J Ahmed, a trustee of the charity. as it was not possible for Ihe land to be purchased in the name of th8 charitable company dlr8Ctly. The trustees are pleased to report that in prior year the process transferring the legal title of this land was completed. Th rustaes, report. Including the stratéglc report, was approved by Ihe Board of Tw51ees. Dr S Y, lftikhar (Chair) Trustee Date.. MIDLAND DOCTORS ASSOCIATION UK INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MIDLAND DOCTORS ASSOCIATION UK I report to the Irustees on my examination of the financial statements of Midland Doctors Associal'on UK (the charity) for the year ended 31 December 2024. Responsibilltles and basls of report As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with Ihe requirements of the Companies Act 2006. Having satisfied myself thal the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination ef the charity's financial statements carried out under Section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charily Commission under section 145(51(b) of the Charities Act 2011. Independent examiner's Statement Since the charity's gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. 1 confirm that l am qualified to undertake the examination because l am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have cornpleted my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect- accounting records were not kept in respect of the tharity as reqUI￿d by section 386 of the Companies Act 2006. the financial statements do not accord with those records., or the financial statements do not comply with the accounting requiremenls of section 396 of the Companies Act 2006 other than any requiremenl that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charrties preparing their financial statements in aC￿rdance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connedion with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Philip Handley FCA Institute of Chartered Accountants in England and Wales HSKSG Audit Limited Charlotte House Stanier Way The Wyvern Business Park Derby DE216BF Date,, MIDLAND DOCTORSASSOCIATION UK STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds 2024 Unr•$trlcted funds 2023 Note$ Incorne from: Donations and legacies Charitable activities Investments 668.267 10,921 1.338 790,349 7,427 1,000 Total income 680,526 798,776 Expenditure on: Raising funds 34,988 39.217 Hospitsl expendilure Village expenditure Dubai office rnsts Education expenditure Other charitable expenditltre 527,365 27,534 29,949 13,956 78,550 457,022 36,000 27,639 2,714 93.797 Total charitable expenditure 677,354 617,172 Other expenditure 13 5,809 Total expenditure 712,342 662,198 Net Incomellexpenditure> and movement In funds (31,8161 136,578 Reconciliation of funds: Fund balances at 1 January 2024 3.144,453 3,007.875 Fund balances at 31 December 2024 3,112,637 3,144,453 The statement of financial activities includes all gains and losses recognised in the year. All Income and expendllure dersve from continuing activities. MIDLAND DOCTORS ASSOCIATION UK BALANCE SHEET ASAT31 DECEMBER 2024 2024 2023 Notes Fixod assets Tangible assets 15 2,445,067 2.512,036 Current assets Debtors Cash at bank and in hand 16 28,104 674,502 29,989 627,446 702,806 657,435 Credltors: amounts falling due within one year 17 135,036} {25,Q18) Net current assets 667,570 632.417 Total assets less current Ilabllltlos 3.112.637 3.144.453 The funds of the charity Unrestricted funds 18 3,112.637 3.144.453 3,112,637 3,144,453 The company is enlitled to the exemption from the audit requireTnent contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024. The directors a¢knowledge their responsibilities for Comptying with the requirements of the Companles Act 2006 with respect to accounling records and the preparation of financial statem8nts. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statèments have been prepared in a¢cordan¢e with the provisions applicable to companles subJe¢t to the small companies regim8. The ancial statements were approved by the trustees on .. Drsy Trustee ikhar (Chair) Company registration number 05818995 (England and Wales) MIDLAND DOCTORS ASSOCIATION UK STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Not¢$ Cash flows from operatlng actlvltlès Cash generated from operations 20 85,392 202.968 Investing activities Purchase of tangible fixed assets Investment income received 139.674) 1,338 (69,573) 1,OQO Net cash usèd in investing a¢tivities {38,336} {68,573} Net cash generated from financing activities Net Increase In cash and cash equivalents 47,056 134,395 Cash and cash equivalents al beginnlng of year 627.446 493,051 Cash and cash equivalents at end of year 674,502 627,446 MIDLAND DOCTORS ASSOCIATION UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting pollcles Charlty Informallon Midland Doctors Association UK is a privata company limitèd by guarantee incorporated in England and Wales. The registered office is 11 Snelston Crescent, Littl8over, Darby, DE23 6BL, 1.1 A¢¢ounting convention Th6 fin8ncial statements have been prepared in accordance with the charity's governing document. the Companiès Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "AcGounting 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)" The charty is a Public Benefit Entity as d8fin8d 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 rnain functtonal currencies of the charity are the Pound Sterling {£} in the United Kingdom, aFKI the Pakistani Rupee (Rsl for expenditure incurred in Pakistsn, along with United Arab Emirates Dirham {1 a) for expenses Incurred within Dubai. The financial ststements have been prepared under the historical cost convention. The principal accounting pollclès adopted are set out below. 1.2 Going concern At the lim8 of approving the ffnan¢ial 5tatement5, the trustees have a reasonable expectation that the charity has adequate resources to ¢ontlnue In operational exlstsnce for the foreseeable fulure. Thus the t￿￿￿teeS continue to adopt the going concem basis of accounting in preparing the financial ststements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the trustees in fkjrtherance of th8ir charitable objectives. Restricted funds are subject to specrfic conditions by donors or grantors as to how they may be used. The purposes and uses of the restricled funds are set OLrt in the notes to thè financial statements. Endowmenl funds are subject to speclfic conditions by donors that the ¢apital must be maintsined by the charity. 1.4 Incomè Income is recognised when the charity is legally entitl8d to It aftèr any performan¢e conditions havè bèen mec Ihe amounts can be measured reliabty. and it is probable that income will be receiv8d. Cash donations are recognisèd on receipt. Olher donatlons are recognised once the charity has been notified of the donalion, unless performance condltlons require deferral of the amount. InGome tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised al the time of the donation. Legacies are recognised on receipt or otheNlse 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 le9acy is treated as a contingent asset. Donated goods and services are recognised as income when the charity has control over the item, the receipt of economic ben8fit from the use of the ¢harily of the Item is probable and that economlc benefit ¢an be measured rellably. 10- MIDLAND DOCTORS ASSOCIATION UK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policiès Icontlnued) Income from trading activities is recognised at the fair value of the consideration receivable for seNi¢es provided, and is recognised when the service is delivered. Interest on funds held on deposit is included when rec8ivable and the amount can be measured reliably by the Charity, this is normally upon notification of the interest paid or payable by the bank. 1.5 Expendlture Expenditure is recognised once ther8 is a legal or construcliv6 obligation to transfer econornic banafft to a third party, it is probable that a transfer of economic benefils will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is clasSrf￿d by 8Ctivlty. The costs of each activty are made up of the total of dIr￿t costs and shared costs, including support costs involved in undertaking each activity. Dired ¢ost5 attributsble to a single activity are allocated directly to that aclivily. Shared costs which conlribute to more than one activity and support costs which afe not attributable to a single activiiy are apportioned between those activities on a basis consisl&nt with th8 use of resour￿$. Central stsff costs are alloGatsd on the basis of time spent, and depreciation charges are allocated on the pofoon of the a$5et'S Use. 1.6 Tanylble f[X￿ asset$ Tangible fixed assets a￿ initially measured at cost and subsequently measured al cost or valuation, net of depreciation and any impairment losses. Depre¢iation 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 and buildings Plant and equipment Fixtures and fittlngs Computers Motor vehicles 20/o on cost 100A on reducing balance 10YD on reducin9 balance 25fi/o on reducing balance 100/r* on reducing balance The gain or loss arising on the disposal of an asset is determined as the dÉfference 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 Al each reporting end date, tha charity reviews the carrying amounts of its tangible assets to detemiine whether there is any indication that those assels have SL*ffered an impairment loss. If any such Indication exists, the recoverable amounl of the asset is eslimat6d in order to determine Ihe extent of the Impairment loss lif any). 1.8 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financi81 Instruments, and Section 12 'other Financial Inslruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheot when th8 tharity becomes party to the ontraclual provisions of the instrument. Financial assets and liabillties are offset, with the net amounts presented in the financial statement5, 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 58ttle the liability simultaneously. 11 MIDLAND DOCTORS ASSOCIATION UK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policlÈs Icontlnued) Bas1¢ nnan¢lal assets Basi¢ financial assets, which Include debtors and cash and bank balances, are initially measured at transaction Price including transaclion costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement conslitutes a finan¢ing transa¢tion, where the transa¢tton is measured at the present value of the future receipts discounted at a markel rate of interest. Financial assets classified as receivable within one year are not amortised. Baslc flnanclal liabilities Basic financial liabilities, including croditors are initially Tecognised at transaction price unless the arrangement constilules a financing transaction. where the debt instrumenl is measurèd at the presènt value of the future payments discounted at a market rate of interest. Financial liabilities classffied as payable within one year are not arnortised. Debt instruments are subsequently Carried at amortised cost. using the effertive interest rate method. Trade creditors a￿ 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. thay are presented as non-current liabilities. Trade creditors are reco9nised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of Ilnanclal Ilabllltles Financial liabilities are derecognised when the charity's ¢ontra¢tual obligations expire or are discharged or cancelled. 1.9 Taxatlon The charily is exempt from Corporation tsx on its charitsble acttvities. 1.10 Employee bonellts The cost of any unused holiday entitlement is recognlsed in the period in whlch the employee's servlces are received. Temiination benafits are recognised immediately as an expense when the charity is demonslrabty committed to terminate the employment of an employee or to provide temination benefits. 1.11 Foreign exchange TransaGtions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are relranslaled at the rates prevailing on Ihe roporting end date. Gains and Ic>&8es arising on translation in the period are included in profit or loss. Criti¢al ac¢ounting estimates and judgements In the application of the charity's accountlng pollci&s, the trustees are required to make judgements, estimates and assumptions about the carrylng amount of assets and liabilities that are not readity apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revislons to accounting stim8tes 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 ￿rrent and future periods. 12- MIDLAND DOCTORS ASSOCIATION UK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donations and legacles Unrestrlcted funds 2024 Unrèstrlcted funds 2023 Donations and gifts Donated goods and seNices 665,017 3,250 759,804 30,545 668,267 790.349 Donatlons and gifts Donations Gift aid refunds 642,259 22.758 737,3Q3 22.501 665,017 759,804 In¢om¢ from charitsble activities Unrestricted funds 2024 Unrestrlcted funds 2023 Hospital Patient fees 1Q.921 7.427 Income from Investments Unrestrlcted Unrestrlcled funds funds 2024 2023 Interest re¢eivabEe 1,338 1,000 13 MIDLAND DOCTORS ASSOCIATION UK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expendlture on ralslng funds Unrestricted Unrestricted funds funds 2024 2023 Fundraisin9 and publl¢lty Advertising and fundraising events Donations 8dmini5tration fees 31,163 3,825 35,390 3,827 34.988 39,217 14- In In o ¢3) Ir) ct) fo 17) O ID LO (D Ir) **n¢D￿j￿- ) rfj i (Ci ln a> ¢1) owj tJ> cw (ry 0> o (o ty) J * oj (o ets o O) O CTJ In (D fON*tr¢3J a) oort <4 C> O) o ro ¢0 u) ec ¢*) ro q> Ln Lrj v ¢0 in ¢n ro n a) CC¢ tr r ir> (w 1Si- roo riniN (N Ln o o) Lt) ¢JJ Lnlnomrov￿IDLQ*(NP¢D ,1 ￿41 ¢￿￿￿￿()(￿&(C￿cc, MrA A Najlb, a trustee of the charity, and his wider family donated £120 (2023.. £120>. Dr Farhan R8shid, a trustee of the charity, donated £480 {2023= £480). Dr Z Shelkh, a Irustee of the charlty, donated £600 (2023.. £600). M. Najib & Sons Limited, a company in which Mr AA Najib is a director and a shareholder, donated £29,550 {2023.- £33,800). lfti's Medical SeNices LimÉted, a company in which Mr S Y lfttkhar is a director and 8 shareholder, donated £1.200{2023'. £330}. During the year, The Accounting House, a business owned by Ms T Kent-chapman provided bookkeeping setvices to the charity on an arm's length basis. These services amounted to £18,000 {2023." £28,500). In 2021, the charity advanced 2,000,000 Pakistani Rupe&s1£9,189 at the prevailing spot rate} to the Chief Executive Officer ol the Midland Doctors Medical Institute