**REGISTERED CHARITY NUMBER: 1115346**
**Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 July 2022**
**for**
**Iraqi Orphan Foundation**
Walji & Associates 336 Pinner Road Harrow HA1 4LB
**Iraqi Orphan Foundation**
**Contents of the Financial Statements for the Year Ended 31 July 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**||1||
|**Independent Examiner's Report**||2||
|**Statement of Financial Activities**||3||
|**Balance Sheet**||4||
|**Cash Flow Statement**||5||
|**Notes to the Cash Flow Statement**||6||
|**Notes to the Financial Statements**|7|to|10|
|**Detailed Statement of Financial Activities**||11||
Ira
l O han Foundati
Re
ort of the Trustee5
for the
Ended 31 Ju
2022
The ttusttts present their Teport with tbe flltancial statements of the clwity for the year ¢nd¢d 31 July 2022. The trnstees h8V¢
adopted the provisions of Accounting and Reporting by ChitieS. Stat¢rnent of Reconllnended Practice applicable to chatitie,.
preparing their accoullts in accordance the FAt)ancial Reporting Standard applicable in the UK and Republic of Ireland {FIL<
102) (effe¢tive l January 2019)-
STRUCTLIiE. GOVER14thCE AP4D LNAGEME
Goi'erning document
The charity is controlled by its governing dOcuen( a deed of tn aDd CODstitutes an UDillcotporated charity.
REFF.RENCE AND ADLMtNrySTRATtVE DETAIIS
Register Charity DUber
1115346
Principal address
Unit 2F, 289 Crusader Hou
Cricklewood Broa(hvay
London
NW2 6NX
Trustees
O Almossawi
K Mahdi
A Al Hussaini
T Jawad
F Y Mahdi
Independent Examlner
Walji & Associates
336 Pinner Road
Harrow
HAI 4LB
Approved by order of the IK>aTd of trustees on 17 May 2023 atMI signed on its half by..
A Al Hussaini- TThte¢
Page I
## **Independent Examiner's Report to the Trustees of Iraqi Orphan Foundation**
## **Independent examiner's report to the trustees of Iraqi Orphan Foundation**
I report to the charity trustees on my examination of the accounts of Iraqi Orphan Foundation (the Trust) for the year ended 31 July 2022.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Financial Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content 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 concerns 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.
Mustafa Walji
Walji & Associates 336 Pinner Road Harrow HA1 4LB
17 May 2023
Page 2
**Iraqi Orphan Foundation**
## **Statement of Financial Activities**
## **for the Year Ended 31 July 2022**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**-**
Other income
**-**
**Total**
**-**
**EXPENDITURE ON**
Raising funds
3
**-**
**Charitable activities**
4
Charitable activities
**-**
Other
**-**
**Total**
**-**
**NET INCOME/(EXPENDITURE)**
**-**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**-**
**TOTAL FUNDS CARRIED FORWARD**
**-**|Restricted
fund
£
**466,729**
**856**
**467,585**
**-**
**484,239**
**16,047**
**500,286**
**(32,701)**
**97,117**
**64,416**|**31.7.22**
31.7.21
**Total**
Total
**funds**
funds
**£**
£
**466,729**
507,456
**856**
-
**467,585**
507,456
**-**
644
**484,239**
548,843
**16,047**
28,780
**500,286**
578,267
**(32,701)**
(70,811)
**97,117**
167,928
**64,416**
97,117|
|---|---|---|
The notes form part of these financial statements
Page 3
Ira
i O han Foundation
Balance Shtet
31.722
Totsl
funds
31.7.21
Total
nds
Restricted
fund
fid
CURRENf ASSETS
Debtors
Casb at bank and in hand
2,429
63,787
2A29
63,787
2,429
96,488
66.216
66310
98,917
CREDITORS
Amounts falling (h withill one year
{1,800)
(1,800)
(1,800)
NET Ci}RRENf ASSETS
fA.416
64,416
97,117
TOTAL ASSETS LESS CURRENT tIABILfnES
64,416
64.416
97.117
T ASSETS
64,416
64,416
97,117
FUNDS
Restricted funds
io
64,416
97.117
TOTAL FUNDS
64.416
97,117
The financial stateDKnts were approved by the Board of TDJstees and autb(>rised for i&sue OTh 17 Mav 2023 and '¢re signed on IL.
behFllf by..
A Al Hussaini- Trnstee
Th¢ notes fonn part of these fitwicial statements
Page 4
**Iraqi Orphan Foundation**
## **Cash Flow Statement**
## **for the Year Ended 31 July 2022**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash used in operating activities
**Change in cash and cash equivalents in the**
**reporting period**
**Cash and cash equivalents at the beginning of**
**the reporting period**
**Cash and cash equivalents at the end of the**
**reporting period**|**31.7.22**
**£**
**(32,701)**
**(32,701)**
**(32,701)**
**96,488**
**63,787**|31.7.21
£
(73,590)
(73,590)
(73,590)
170,078
96,488|
|---|---|---|
The notes form part of these financial statements
Page 5
**Iraqi Orphan Foundation**
## **Notes to the Cash Flow Statement for the Year Ended 31 July 2022**
|**1.**|**RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM**|**RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM**|**OPERATING ACTIVITIES**|**OPERATING ACTIVITIES**|
|---|---|---|---|---|
||||**31.7.22**|31.7.21|
||||**£**|£|
||**Net expenditure for the reporting period (as per the Statement of Financial**||||
||**Activities)**||**(32,701)**|(70,811)|
||**Adjustments for:**||||
||Increase in debtors||**-**|(2,429)|
||Decrease in creditors||**-**|(350)|
||**Net cash used in operations**||**(32,701)**|(73,590)|
|2.|**ANALYSIS OF CHANGES IN NET FUNDS**||||
|||At 1.8.21|Cash flow|**At 31.7.22**|
|||£|£|**£**|
||**Net cash**||||
||Cash at bank and in hand|**96,488**|**(32,701)**|**63,787**|
|||**96,488**|**(32,701)**|**63,787**|
||**Total**|**96,488**|**(32,701)**|**63,787**|
The notes form part of these financial statements
Page 6
**Iraqi Orphan Foundation**
**Notes to the Financial Statements for the Year Ended 31 July 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2. DONATIONS AND LEGACIES**
|Gifts
Donations
Gift aid|**31.7.22**
**£**
**-**
**431,241**
**35,488**
**466,729**|31.7.21
£
1
507,455
-|
|---|---|---|
|||507,456|
continued...
Page 7
**Iraqi Orphan Foundation**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 July 2022**
## **3. RAISING FUNDS**
## **Raising donations and legacies**
|**31.7.22**
**£**
Sundries
**-**
**4.**
**CHARITABLE ACTIVITIES COSTS**
Charitable activities
**5.**
**SUPPORT COSTS**
Management
Finance
Other
£
£
£
Other resources expended
**9,072**
**240**
**6,735**|31.7.21
£
644
Direct
Costs
£
**484,239**|
|---|---|
||Totals
£
**16,047**|
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 July 2022 nor for the year ended 31 July 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 July 2022 nor for the year ended 31 July 2021.
## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
-
**EXPENDITURE ON**
Raising funds
-
**Charitable activities**
Charitable activities
-
Other
-
**Total**
-
**NET INCOME/(EXPENDITURE)**
-
**RECONCILIATION OF FUNDS**
Total funds brought forward
-
**TOTAL FUNDS CARRIED FORWARD**
-|Restricted
fund
£
507,456
644
548,843
28,780
578,267
(70,811)
167,928
97,117|Total
funds
£
507,456
644
548,843
28,780
578,267
(70,811)
167,928
97,117|
|---|---|---|
continued...
Page 8
**Iraqi Orphan Foundation**
## **Notes to the Financial Statements - continued for the Year Ended 31 July 2022**
|**8.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**10.**
**MOVEMENT IN FUNDS**
**Restricted funds**
Restricted Funds
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Restricted funds**
Restricted Funds
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Restricted funds**
Restricted Funds
**TOTAL FUNDS**|At 1.8.21
£
**97,117**
**97,117**
Incoming
resources
£
**467,585**
**467,585**
At 1.8.20
£
167,928
167,928|**31.7.22**
31.7.21
**£**
£
**2,429**
2,429
**31.7.22**
31.7.21
**£**
£
**1,800**
1,800
Net
movement
At
in funds
31.7.22
£
£
**(32,701)**
**64,416**
**(32,701)**
**64,416**
Resources
Movement
expended
in funds
£
£
**(500,286)**
**(32,701)**
**(500,286)**
**(32,701)**
Net
movement
At
in funds
31.7.21
£
£
(70,811)
97,117
(70,811)
97,117|
|---|---|---|
continued...
Page 9
**Iraqi Orphan Foundation**
**Notes to the Financial Statements - continued for the Year Ended 31 July 2022**
## **10. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Restricted funds**||||
|Restricted Funds|507,456|(578,267)|(70,811)|
|**TOTAL FUNDS**|507,456|(578,267)|(70,811)|
|A current year 12 months and prior year 12 months combined position is as follows:||||
|||Net||
|||movement|At|
||At 1.8.20|in funds|31.7.22|
||£|£|£|
|**Restricted funds**||||
|Restricted Funds|167,928|(103,512)|64,416|
|**TOTAL FUNDS**|167,928|(103,512)|64,416|
|A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:||||
||Incoming|Resources|Movement|
||resources|expended|in funds|
||£|£|£|
|**Restricted funds**||||
|Restricted Funds|975,041|(1,078,553 )|(103,512)|
|**TOTAL FUNDS**|975,041|(1,078,553 )|(103,512)|
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 July 2022.
Page 10
**Iraqi Orphan Foundation**
## **Detailed Statement of Financial Activities for the Year Ended 31 July 2022**
|**Detailed Statement of Financial Activities**
**for the Year Ended 31 July 2022**|||
|---|---|---|
||31.7.22|31.7.21|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Gifts|**-**|1|
|Donations|**431,241**|507,455|
|Gift aid|**35,488**|-|
||**466,729**|507,456|
|**Other income**|||
|Exchange Gain|**856**|-|
|**Total incoming resources**|**467,585**|507,456|
|**EXPENDITURE**|||
|**Raising donations and legacies**|||
|Sundries|**-**|644|
|**Charitable activities**|||
|Donations paid|**484,239**|548,157|
|**Support costs**|||
|**Management**|||
|Rent and rates|**9,072**|11,329|
|**Finance**|||
|Bank charges|**240**|213|
|Exchange losses|**-**|13,533|
||**240**|13,746|
|**Other**|||
|Telephone & Internet|**837**|686|
|Postage and stationery|**317**|184|
|Sundries|**33**|26|
|Renewals|**66**|1,295|
|Accountancy|**2,200**|2,200|
|Software|**3,282**|-|
||**6,735**|4,391|
|Total resources expended|**500,286**|578,267|
|**Net expenditure**|**(32,701)**|(70,811)|
This page does not form part of the statutory financial statements
Page 11