Charity Number.. 1114772 The Newstar Foundation Trustees, Report and Accounts For The Year Ended 31 March 2022 mha MOORE & SMALLEY THE NEWSTAR FOUNDATION CONTENTS Charity Information Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities (incorporating the income and expenditure account} Balance Sheet Statement of Cash flows Notes to the Accounts THE NEWSTAR FOUNDATION CHARITY INFORMATION Registered Charity Name The Newstar Foundation Charity Number 1114772 Rogistergd Office Caxton House Caxton Road Preston PR2 9BZ Trustees Ibrahim Bargil {ChairmanllAppoinled 16 September 20221 Sazeda Bargil Umar Bargit IAppointed 16 September 2022} Independent Examiner Nicola Mason ACA DChA M(iore and Smalley LLP Richard House Winckley Square Preston PR1 3HP THE NEWSTAR FOUNDATION TRUSTEES. ANNUAL REPORT YEAR ENDED 31 MARCH 2022 The trustees have pleasure in presenting their report and the accounts of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of the Statement of Recommended Practice ISORPI "Aceounling and Reporting by Charities. IFRS 1021 in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Trust Deed, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland leffeclive October 20191. Rofergnce and administrative details Reference and administrative details are shown in the schedule of charity information on page 1 of the accounts. Tho trustees Details of trustees who served in the year can be found on page 1. Structurei governance and management The Charity is governed by its Trust Deed dated 3 April 2006 las amended by resolution dated 5 April 20131 There must be al least three Iruslees. Apart from the first trustees, every trustee must be appointed for a term of 5 years by a resolution of the trustees passed at a special meeting under clause 15 of the deed. In selecting individuals for appointment as trustees, the Iruslees musl have regard to the skills, knowledge and experience needed for the effective administration of the ¢harily. Trustees are provided with information relating lo the charity on appointment. The Iruslees must hold al least two ordinary meetings each year. ObJectlves and actlvltles The charity's objects are to relieve poverty, sickness, hardship and distress lo human life in general in any part of the world through donations or provision of aid in the form of medical or food or in such manner as the trustees may determine from time lo lime and to advance and promote education in any part of the world. The trust has received donations from individuals and organisations which have raised money to fulfil its aims. During the year, funds of £50,007 have been raised and donations have been made lo needy individuals. This has been in the form of monetary donations which have been used lo buy essentials and medicine for poverty stricken individuals who have been affected by natural or manmade disasters. Grants are awarded lo projects following review by the Trustees. Achiovements and performanco The charity has in particular helped orphans and widows in developing countries lo help them to be looked after in a dignified manner and for widows lo be self-sufficient by means of providing vocational training in order for them lo earn a livelihood. Financial review Details of the results for the year can be found on page 5. Plans for future periods The Iruslees will continue lo make donab'ons to individuals and projects that meet the criteria included in the Charity objects. THE NEWSTAR FOUNDATION TRUSTEES. ANNUAL REPORT (CONTINUED} YEAR ENDED 31 MARCH 2022 Publle beneflt The Iruslees have had due regard to guidance published by the Charity Commission with regards lo public benefit and are satisfied that the charity satisfies the requirements. Risk policy The Iruslees have reviewed the risks to which the charity is subject and established procedures to miligale these risks Roserves Free reserves are currently £391,586. The trustees review grant claims as appropriate and pay grants each year. For and on behalf of the board of Iruslees Sazeda Bargit Trustee 3010112023 THE NEWSTAR FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES YEAR ENDED 31 MARCH 2022 I report to the Charity trustees on my examination of the accounts of the charity for the year ended 31 March 2022 which are sel out on pages 5 to 8. Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of the accounts in accordan￿ with the requirements of the Charities Act 2011 I'lhe Acl'l. I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examlner's statement I have completed my examination. I confirm that no material matter5 have come to my attention in conne¢lion with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act., or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements concerning the form and conlenl of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Nlcola Mason ACA DChA MHA Moore and Smalley Chartered Accountants Preston 3110112023 THE NEWSTAR FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2022 Unrestricted funds Total funds 2022 Totsl funds 2021 Noto Income from: Donations and legacies Interest 50,000 50,000 256,125 Total income 50,007 50,007 256,125 Expenditure on: Charitable activities Donations payable Governance costs 89,043 630 89,043 630 127,241 600 Total oxpenditure 89,673 89,673 127,841 Reconclllatlon of funds Net movement in funds 139,6661 139,6661 128,284 Total funds brought forward 431,252 431,252 302,968 Total funds carried forward 391,586 391,586 431,252 The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing aclivilies. All income and expenditure in the current and previous year was unrestricted. THE NEWSTAR FOUNDATION BALANCE SHEET AS AT 31 MARCH 2021 Unrestricted Total funds funds 2022 Total funds 2021 Current assets Cash at bank Other debtors 382,741 12,500 382,741 12,500 420,067 14,750 395,241 395,241 434,817 Creditors: amounts falling due within one year Trade creditors Accruals Other creditors 540 1,200 1,825 1,830 1,825 1,830 1,825 3,655 3,655 3,565 Net assets 391,586 391,586 431,252 Funds Unrestricted income funds 391,586 391,586 431,252 Total funds 391,586 391,586 431,252 These accounts were approved by the members of the committee on 3010112023 on their beha￿ by.. and are signed Sazeeda Barglt Trustee Charity Registration Number.. 1114772 THE NEWSTAR FOUNDATION STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2022 Total funds 2022 Total funds 2021 Nel incomellexpendilurel for the year 139,6661 128,284 Decreasellincreasel in debtors Increase in creditors 2,250 90 16,6251 600 Nel cash inflowl louffiowl from operating activities 137,3261 122,259 Total cash flow 137,3261 122,259 Cash and cash equivalents at 31 March 2021 420,067 297,808 Cash and cash equivalents at 31 March 2022 382,741 420,067 THE NEWSTAR FOUNDATION NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2022 Aecountlng pollcles Basls of accountlng The accounts have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, the Statement of Recommended Practice "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive October 20191 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act2011. The financial statements have been prepared to give a 'lrue and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required lo provide a 'lrue and fair, view. This departure has involved following the Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The trust constilules a public benefit entity as defined by FRS 102. Preparation of the accounts on a going ¢on¢ern basis The trustees assess whether the use of going concern is appropriate, ie whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charitable ompany lo conlinLJe as a going concern. The trustees make this assessment in respect of a period of at least one year from the dale of authorisation for issue of the accounts and have concluded that the ch8rity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the charity s ability lo continue as a going concern. There are no significant areas of adjustments or key assumptions in the preparation of the aceounls. Incomlng resources Income is included in the statement of financial activities when the charity is entided lo il and is allocated between restricted and unrestricted depending on the restrictions placed by donors. Resources expended Expenditure is included in the accounts on an accruals basis and allocated bel￿een restricted and unrestricted funds depending on the funds being used. Funds Where conditions are placed on the receipt of funding or il is received for a specific purpose il is included within restricted funds. Where there are no conditions the funding is included within unreslricled funds. The charity currently has no restricted funds. Judgements and key assumptions There are no judgements or key assumptions made in the preparation of accounts. THE NEWSTAR FOUNDATION NOTES TO THE ACCOUNTS ICONTINUEDI YEAR ENDED 31 MARCH 2022 Donatlons and legacles Unrestricted Total funds Total funds funds 2022 2021 Donations received Gift aid recovered 40,000 10,000 40,000 10,000 249,500 6,625 50,000 50,000 256, 125 Donations paid Unrestricted Total funds Total funds funds 2022 2021 Donations paid out 89,043 89,043 127,241 All donations paid are lo organisalions for projects in line with the charity objects. Donations in the year include £50,000 to Abdullah Aid to assist in shelter and winter warmth projects.. Governance costs Unrestrieted Total funds Total funds funds 2022 2021 Independent examination 630 630 600 The charity had no employees during the year. Related party transactions Sazeda Bargit is considered to be a related party as they are a Iruslee of the charity. Imran Bargit is onsidered lo be a related party as they are the husband of Sazeda Bargil. During the year, the charity received donations of £Nil12021". £223,000) from Newstar Group Limited, a company in which Imran Bargit is a director. Additionally, Imran Bargil made charitable donations of £40,00012021." £26,500) to the Foundation. Al the year end £1,82512021". £1,8251 was owed to Imran Bargit relating to expenses incurred on behalf of the Charity. No remuneration or reimbursements for expenses were paid lo the trustees in the year.