Registered number. 06018191 Charfty number: 1118545 THE AMJAD AND SUHA BSEISU FOUNDATION (A Company Llmlted by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
TrIE AWAD AND SUHA BSEISU FOUNDATION (A Company Llmkod by Guarant••l CONTENTS Rolerence and AdmInistratl D*alls ol th• Cwpany, Its Trust•05 and Advise Trnstaes. Report Indendent Auditors. Report on tho Fln•nclal Statemgnts Statement of Flnanclal Activities Balance Slwet Page 10 Sta¢gm•nt of Cash Flo Not•8 to the Financial S¢aten 13 14-21
THE AMJAD AND SUHA BSEI8U FOUNDATION IA CY Llmltod by Guarantsfr) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Truste Aniwl A N Bser&u. DwectoraThY Truste8 Sth R T Bsetsu, Diredot and Twslee C¢xnpany regl$tsr•d number c18191 Charfty registered number 1118S45 Roghtèrod ¢>fflc• 2nd Floor Ch*s HO$e 11 Regent Street London SW1Y4LR Auditors Harris & Trc4ter LLP Chartered attaunts 101 Cavendish Street 1stFbcff S London Unitgd Kirykni W1W 6XH Page 1
THE NMJAD AND SUHA BSEISU FOUNDATION (A Cwny Urrithi by Gu¥ante• TRUSTEES. REPORT FOR THE YEAR ENDED 310ECEM8ER 2023 The Trustees present th&irannual rep(y11Tr3etherwith the aKlrted financid stemenl$ dthe Comparby for the 1 January 2023 to 31 December 2023. Thè Annual Report seNes the purposes of both a Trustees. report and dir8clors' report under corryany law. The Tru51ees confirm that the Amual Report and fincial stslemonts ol the charilable company compty the current statutory requirements. the requirerrenls ol the charitabl8 compan$ goveming docum¢ and the provtsions of the Statement of RecommeThled Praelicg ISORP) applicable lo chtieS preparing their accounts in acekne th the Financial Reporting Standard applt¢able in the UK and Republic of lieland (FRS11721 (effer l January 2019). Srnee the Corr¢any qualfs as smal under seclKJn 382 of the CorTpani8s Act 2¢x6. the Strategic Rewt required of medium and Ie corleS Crya)ies Act {Stral8gic Report and DeCtorS, Roportl Regulations 2013 has been omitted. Oble¢tfves and actlvmios Pollc1è5 and ob1¥¢$ The Foundation's objectwes are: - the relief of poverty and sickness., 4he athaMent of education arad: . any other tharrtable objectives at the di5ryetion of the tr. The F¢xJndation invites applicath)ns for lund¥ig d prw8cts through YarM)us sources. The ¥)plications revimd by the trustees who ensure thal tly are in ¢danCe with the FoundatiM's objectives. Achlevements and porfomianco a. Maln achlevemonts of th• Company The income for the Foundalton for ts pervj uThJer was £1.1%5.304 12022." £3.099,080 induding ta¥ credits) and t expenditure in the the F(K,$ were £797,17112022: £598,830). The Injstees are grateful 10 811 dmots for tsir contritsthirM)s to the Foundation during the year their conlinued $POrt in the firture. The FrK18tn's cash reserves ai the ym end wefft £372.824 (2022. £487.8) b. Fundra65ing actlvlties and Inc¢)me 9orb•rat During the year the FcMJndatioTr dnI carry ¢yJt fvndraising actNihes *KI all the •iC0 was generated from vcAurtary donalKJns by trustee. iNJivKluals frThn the investrnents. Page 2
THE AMJAD AND SLIHA BSEISU FOUNDAnoN (A Company Urnod ty GuarJnt•fr) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEM8ER 2023 Achlev¢m6nts and p•rfornianca (Continu . Invostm•nl polky and perfomwnce The Foundation holds inveslments in order to generate r8ium$ ID help ils charitsble objectNes and to fvnd future projects. The trustees adopt a Fent investment p)Iy to ensure potenti& returns are wel balanced wilh the appropriate levels of risk Flnan¢lal revlew a. Golng contorn After making appropriate enquiries. the Tntstees ha¥e a reasonable expectatIc thal th& Charity has adequate resources to Contin in opwaknnal existence for the foreseeable futur8. F this reason, they continue to adopt the going coneem bas in prepanng the [anCi statements. Further details regarding the adwion of the going concem basi$ be found in the ClI9 poks. b. ReseN•s polky The trustees have adopted a reserves pcy wl• slfftnt cash 5ffts are hekl to cover luture committmenl$. The balance ol eash reserves * 31 Decembw 2023 was £372.824 (2022.. £487,968). c. Financl•l rlsk management obiKtives and pollcl The Trustees have a$ses58d the major rks lo l¢ti the charity is exposed. in particul¥ those related lo the operations a1 finances of Ihe and are satisfied that system5 and PrethI$ are in pfaee to mrtvJate eryre to the nw risks. In accordanea vthh the memThdum aNI artiths of ass(Kiakn. the trustees have p(vM to invest in such assets as they see fiL The Chty has a policy of keeping surplu$ liqu fuThls in short term deposits. This k nsk investment policy provKled Ilextlilty in ming charitable grants and ensures the charity has adequate funds lo meet ongoing grant comnxtmerts costs in accordance ¥th lis reserves policy. d. Foundatlon lov1 poNcy 11 is the policy of the Foundation Ihal unrestricted funds which have ncl been desNJnated for a specffic use shoukl be maintsined at a knl equivalent to befvfftn three and six )nth'S 8xpendrture. The Management committee & Twslees eonsiders that reseNes at this level wil ensure th. in the event of a sigNfKanl drop in funding, they will be able to continue the FrwJal1on'S curr9nl ath"Ve8 wme eMsidefaIi is gNen to ways in vthich additional funds may be raised. In Xcordance wth menndUm * Arficles of Assoc1K. the managent commrttee retain the r*X to invest in such assets a5 they see fL Page 3
The AMJAD AND SUHA BSEISU FOUNDATION IACompany Lirnlled by Guar•ntso) TrUSTEES' REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Structure. g0vornae and manag•ment . Conslhutlon The Foundation was i0(pted as a c(ryry kmrtej by guarantee on 4 Decen)er 2¢yJ6, and on March 2007 was rogistergd wrth Chanty Commission lor Englarnl aFKI Wale$. Its gov8miw dument is ils Memcrfandum and ArlKks of AsKKiaion. The management ¢CWbNnrttee, wlK> ae also trLtstees directors for the purpose of company law, vtho served durry the yearwere.. MrAmjad A N Bseisu (DI¢trA & Tnteel Mrs Suha R T Bseisu Ioiredor & Trustee) Thè membership of the Foundation is wen to olher irbjmduals organi$al)ns who appty to the Foundation #i form required by the Directors arKI are approved by the Drect(s. Nork of the twslees had any beneficial inlere$l in any contract wth the Foundation during the peritsj. All of the Management commrttee & Trustees ale members of the coMpY gu¥anleè to COrttrib a nNaximum 01£1Q ¥i the event of a windwNJ up. Undw the Memorandum and Articl6s ol AsKKith, at the first annual general meeting all the trustees shall relire from office and, al every subsequent annud geral meetiThJ. one thir(1 of the trustees shall fetir8 annually and be eligl)le for fftappoitthw b. PAothods ol appointm¢nl or •l•ctkm of Tntsto•s Existing Iruslees brief ne trustees on the Foundation's ains and object. They are gtven a copy of the Memorandum and Artiths of ASslatIon along with the latest finarKial stalemenls. They are also given literature abo tho Foundaticm and a ccpy of the Charly Commission's guidefvw for Trustees. which will help them fulfil their role in lino wrth thwrty and CoanY Iw. c. thganlsatlonal structur• and decisbowkng policles The Iruslees wew the str&w aNI finalwi positw of Ihe FCrJ#)n at ts regular board ming3. Tly consider potential risks top whth th? Ftyjndat is ewed. As part of tfv"s prrtess. the trustee8 have impknented a nsk management strakn whth comprises an annual wew of the risks which the Foundation may face and the establ.shmt of Syste [edureS lo mitJale those risks idenlffied in the plan and the implementation of procedures designed to minimw any impact on the Foundathm should those risks ma8rialise. d. Flnanclal rfsk managemo The Trustees have assessed the maic* risks to whKh the Company 1$ exposed. in particular Ihose related to the operations and finae8 of the Company, are Satisf that systans and procedures are in pla¢e lo mrtigate exposure to the major risk& Plans for fure periods The Management comNMtte8wII cc4)tinue to 814¥xyI lyga)n in fine with the Found81ion'$ objectNes. Page 4
THE AKIAD AND SUHA BSEISU FOUNDATION (A Company Llmlt•d by Gu4rants•) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Stat•ment of Trustoes. rnsport&lb61itigS The Trustee$ () are 8150 directh of the Conwary for purposes of company lawl are reSnSIbl8 for preparing the Truslees, Report and the finan¢ial slalements m accordance vith applicable law and Uniled Kingdom Accounting Skndards {Uned KirvJ(krfn Gen&dtyAccep&J Attounlg PrKe). Company law requi Trustees to prepare fnancial statemerts for each financial . Under company law. the Trustees musl not approve the financial statements unless they are satisfEd that they give a t and fair view of tho stale of affaits of the Company and of its i[0m1r@ resources and applicatKn of resources. including rfs income and eypendilure. for thal In preparing these financkql statem8nls, the Tnjstees are required to.. select surtable accounlirKJ polic$ and then apply them c(msistentty,' observe the methcKfs and prtnciples crf the Chartties SORP {FRS 1¢Y2>." make judgments and accounting eslimales that are reasonable and pmdent.. state whether applicable UK Accounkng Slandards IFRS 1021 have been follwd. subi8ct lo any material (rtures disdosed explained in the frtial statements.. prepare the finala1 slalements on gory ¢ry)cern basis unless it 1$ inappropriate lo presunk that the Company continue in trMJwrss. The Trustees ale resp(sIb for keeping adeqLBts aOting recdS that are $ufficienl to sh(hv and explan the Compan3 transactions and thsclose wth reasonabl8 any tim8 the finaneial position ol the Company and ena)le them lo ensurg that the statements COMP %Mth the Conynies Act 2006. They a also responsible ts salegu¥ding the assets of the canY and hen ft>r laking reasonable steps lor th8 preventh)n and detection of fraud other Irregularit. Dlsclosuro of Infi)rmatlon to auditor5 Each of tho persons who are Tntslees at time Ihis Trustees. Report is approved has confirrwj thatr. 80 far as that Tnjstee is alvare. there is no revanl audit informalion of wthith the tharitl$ auditors aré unaware, that Tnjstee has taken all tr steps that cwght to ha been taken as a Trustee in order lo b8 8ware of any relevant au(lil infom)ation and to estabb'sh that charitys aLKlitors are awarg of that information. Audltors The auditors. Haryis & Trotter LLP, have dted trir wIingrS k> continue in Offe. The designated Trustees will propose a motion reappointitvJ tke lIorS at a maiTrJ of the Trustee5. Approved by crfder ol the fflenJers of ts botrd of Trustees on 11 Septanber 2024 and signed on their behaw Page 5
THE AMJAD AND SUHA BSEISU FOUNDATION IA Compary Llmttod by Guarantse) INDEPENDENT AUDITOR8. REPORT TO THE MEMBERS OF THE AWAD AND SUHA 8SEI8U FOUNDATION Oplnlon We have audited the ffinra1 statements of The Amjal Suha Bseisu FourxlalKgn (the '¢harlable companYI for the year ended 31 Der1)er 2023 ¢cAnpre the Statement of FinancBI Activili8s, Ihe BaJan¢& Sheet. the Stslement of Cash FlrAvs WKI Ihe rdated notes. ilairj a summary of signifan1 accounts.ng policies. Thg financial reportrng framework that h88 been ap[dd in th'r prwraticffl is applieabl8 and United Kingdom Accounting Standards. induding FInarla1 Rewtry Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Irdand, (Ud Kingdom Generally Accepted Accountsr¥J Practtel. In our opinion the financial atem8nts.' give a true and fair view of the state clthe chan"table coMpanS affairs as at 31 Dernber 2023 and of it8 incoming rescyjrces arKI aFpkalion of restyJr¢es. IlUdij ts income and expenditure for the year then ended., have been property pPared in acc(%dw 7Mth Unrted Kirgjom Generalty Accepted AccountiNJ Practice." and have been prepared in xcordarKe with the rW6nts of the C15 Act 2011. 8asls for oplnlon We conducted our atKIit in acord•)ce with Inlematk)nal Standards on AuditirwJ {UK} {ISAs IUKII arKI applicable law. Our responsibilit$ under tIMxe $tsrKl¥ds are fvrther described in the Auditors. responsibilities the audit of the financial stateNnl$ sectk)n of our rerXt. We a indepeThJenl of the charitable company in accordance with the elhical requirements th are relan1 to cwr audrt of the ffinal stalemenl$ vi the United Kingdom, iluding the Finanual ReportiTrJ Ccrlf$ Ethical Standwd. and we have fUMed our other ethical responsibiliti'es in aeeorilance wrth these requirements. We that the dit ewdence we have ¢)btained Is SLrfficient and appropriate lo provKle a basis for 0pmiK. Conclu56ons rel•tJng to going concgm In audrting the finanual statements. we have conduded thal the Tnjslees. use of the going concem basis of counting in the pfeparion ofthe fInKI Statets is approprth. Based on the work we have performed. have not hknilffied any malerial uwtainties relating lo events or conditions that. MidiMduaNy or lleCtety, may cast swjnfftant doubt on the charitable company's ability lo continue as a g¢ing concern lor a period of * ast tw months from Ythen th8 financial statements ale aulhorised tr issue. Our sponS)tE3 and the responsth'lils of the Trust with respect lo gting concem are described in the relevant sections of this reporL Page 6
THE AWAD AND SUHA BSEISU FOUNDATION IA Company Llmited by Guarantoel INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE AAIJAD AND SUHA 8SEISU FOUNDATION {CONTINUEDI Other Infomiatlon The other informati1 comwiw the infcrth Ind in the Annual Report other than the financial statements and our Audrtors, Rewt Ihèreon. Tha Trustees are responsible for the other infomwiion contained wiitiin the Annua Report. Our opinion on the fanCIal statements does not cover other infomiation and, except to Ihg extent othowse explTCrtly stated in our report. do not exwess any f of assurance conclu$ion Ihereon. Our responsibthty is lo read the other information and, in doing so. consider whether the other infomiatKm is maleriaty inconsistent with the ststemenls cff our knowled9e obtained in the couise of the audrt, or ¢)therwise appears lo be merialty mi$3taied. If we idenlrfy such malerral inconsistencies or apparer matefial misstalements, wo are required lo deteThTne whether thi8 gr¥es rtse lo a material misstatement in thè financial slalemenls themselves. If, based on have performed. we CCKlude that there is a material misstemenl ofthis other 1nfmlh. are required to repryt that I. We have nothing to reF¥)rt in this regard. Matters on whlch we arn rnwirgd to rwrt by exc•p W8 have nothing to report in respect of the fthng matter8 TAtsfe thg Charities {Ac¢ounts and Reports) Regulations 2008 reqiwres us to repjt to ycw rf. in our winion." the Informati given li the TnJstees' Rep(Kt is IOnSi$tent in any malw?al reSpt wilh the financial statements.. or suffKrent accounting records have not been kept: or the financial statements are not in agreement wilh the xcwnlinp rOrdS and retums.. or wè have not receiv all thè fntKffi al ex5 V require f¢x our audiL ResponGlbllitle8 of trustoes As eined rn0 in the Trustee$. ReSponsibikts Slatement. tho Trustees (who also the directolg of the charitable conyany for the wrposes of company Lawl are reSprs)le for preparation of the financi71 slalements and for being satisfied that they give a true fair VieV, a1 for sh internal control as the Truslegs determine is necessary to enatle the Fwaratw of finar statwnents that are free from matersal misstatemenl wfrElher due lo fraud or error. In preparlig the finanual statements. the Twustees are wnsible for assessing the chtsbIe company'g ability lo continue as a going concem. discknsirrfj. as appLrable, matters related to going coneem and using the going concern basis of acnting unles$ the Trustees ether irthKI to INuidale the charitable company or to ceas8 Operat)nS. or have no reah.stic alt8rnive but to do so. Page 7
THE AMJAD AND SUHA BSEISU FOUNDATION IA Company Lhnltod by Guarnnt••) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE AAIJAD AND SUHA 8SEISU FOUNDATION (CONTINUED) Audltorn. re8ponslbS1•es for th• audit of th• IInan¢1 statements We have been ¥poIn as auditor urKler sectk)n 144 of Ihe Charities Act 2011 aThJ report wi accordance wrth and relevanl regulat$ made or haviNJ effecl thereunder. Our objectives are to reasonabl8 assurance ab whether the financial statements as a wlK>le are free Ir¢xn malefial misstaleffthl. wther due to fra1 or errtr, and to issug an Audrtors, Report that includes our opinion. Reason1¢ assurance is a 3h of assurance, but is not a guarantee that audit conduded in accordance Yth ISAS (UK) wll akvays detect a material misslateinI wh8n it exists. M88lalemenls can arise from fraud or error and are consKlered material rf. indiwdualy or in the agggate. they couhj reason)ly be expected lo iifluerKe the ecorMiC dttisions of usets ten on the basis of these financial statements. Irrogulariti8s. Ni¢l11r fraud, are instances of rh)TrcMyliance with Im and regulions. We design pedureS line wilh our responsibilit, ouuined above. lo detect matenal misslatements in respect of irregulairties, cluding fraud. The extent to whh wr yocethres are ¢apth of detectwig irregukaiities. incluthng fraud is detailed bel1¥.. The objectives of our audit ¥e lo identfy assess the risks of malerial misstat&ngnl of the financial slalemenls due lo fraud error. to obtsin suffioent apprcwriale di1 evwleno regarding the assessed risks of material misstslemgnl due lo fraud ¢ error. to resp1 4>pr¢(sriately to those risks. "ng to the inhgrenl limlalions of an dit, the 1$ an unavoidable risk material mi551atements in the finarKial slatemenls may not be detected. even thwh the audit Is prcwty planned aThJ Pthrd in w•rdance with the ISAS (UK). In idenlrfyin9 and assessing risks of material misslatement in respect of irregul8rilw, inclu(ng fraud non- Conw1?nce with laws regul)ns. edureS included the folltroving.. . Wé oblained an under8tarKfry of Ihe gaI a)d regu appkable to the Charityand industry in which it cperates. We determined that knvs wd regulations were most signfftanl." FRS 102 and the Companies Act 2006. . We obtained an understsnding of the Charity is ccffip.ry Aryth those legd and regulatory framework$ by making enquiries of managemnt. . We chaleng&J assumpti()S WKI jthlgftts m by manag1 ) its signifan1 CcntIng estimates. We did not Jgntify key aLpJit matets relakng to irregulwities. MKIlIrj lrnud. A further deseript#)n our responsbifths for the of tre financial stat)ert$ is Itxated on ihg Fmianeial ReP(ting Coun¢ifs website at.. ww*.fr¢. Audrtors, Report. 'lilies. This desuiption form5 part of cr Page 8
THE AMJAD AND SUMA BSEISU FOUNDATION IA Company Umltad by Guarants•) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE AMJAD AND SUHA BSEISU FOUNDATION (CONTINUED) Use of our report This report is me 8olePy lo the chwrta)le trustees. as a body. in accLYdance ryth Part 4 of the Charrties (Ac¢ounls and Reports) Regulations 2CIJ8. Our aj11 work has been undertaken so that we might slate lo the charitable ¢(pan8 trustees matters we *e reqUId to State lo them in an ALMJitors' Report and for no othei pose. To the fullest extent pemiitted by lth. we do ¥cgpt or assume responsibilty to anyone other th the charitable compffj and ils mwnbers. as a W. our wcrt for this report, or for th& opinions we have fomied. Har & Trott•r LLP Chartered aCcntants 101 New Cavendish Street 1st Flcor S London United Kingthyn W1W6XH 11 September 2024 Harri$ & Trcthr LLP are elul)le lo xt as a1$ in tem of sect#)n 1212 of Companiès Act 2006. Page 9
THE AKJAD AND SUHA BSEISU FOUNDATION (A Company Umltsd by Guarantse> STATEMENT OF FINANCIAL ACTMTIES IINCORPORATING INCOME AND EXPENDITURE AccouKri FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrlcted lunds 2023 Total funds 2023 Total lunds 2022 In¢¢ffiie from: Donations aThJ leg Investrnen15 1.024,119 41.185 1.024,119 41.185 3.067,659 31,421 Total Ineomo 1.06S.304 1.065,304 3.099,080 Expenditure on: Charitable actiwlies: Grants paMI G¢)vemance $ts f•99,375 197.796 599.376 197,796 $26. 752 72,078 Total oxpendltur• 797.171 797,171 598.830 Net Income befor8 net (lossesygains on investments Nel {k)ssesllgains on In$trneDts 268.133 268.133 11,636.3371 (1,636.337) 2,.250 393,5TO Nel movement In funds 11,368.204) (1.36Q204 2,893.820 ROn¢111a¢l0n of funds: Ttjtal funds brought foTh¥d Net movement in lunds 12.659,574 12.559.574 11.368,21141 11,368.2041 9.665, 754 2.893.820 rotsl funds carrl•d forward 11.191.370 11,191,370 12,559,574 The Ststemgnl of Financid A¢trrfibes ir¢tudes all gains aThJ h?$ rec4Jgnised in tr y8ar. The nctss on pages 14 to 21 forni part of tlse financial stemeths. Page 10
THE AMJAD AND SUHA BSEISU FOUNDATION (A Company Llmlted by Guarantse) REGISTERED NUMBER: 06018191 BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Flxod assèts Investments 11.122.889 12.023,223 11.122.889 Current assets Debtors Cash at and in hand 12.023.223 816.1)86 3n.824 IKI,808 48T.968 1,188.909 668. r76 Creditors.. amwnls falling due within one 10 (1.120.428} (132.425) Net ciirreiii ass•ts 68A81 536,351 Total assets loss curront Ilabilltlos 11.191A70 12.559.574 Net assets excludlng perbslon asset 11,191.370 72,559.574 Total net as$gts 11,191.370 12,559,574 Charlty lunds Unrestricted funds 11 11.191,370 12,559,574 Totsl funds 11,191.370 12,559.574 Page11
The AMJAD AND SUHA BSEISU FOUNDATION (A Company Limlt•d by Guarant••> REGISTERED NUMBER: I)6018191 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2023 The entity was entilled to exwwlion from under secti)n 477 ofthe Crywtes Ad 2006. The Mber5 have required entty lo obtain an audrt for the >8r in west)n in xcordance wlh s8¢tion 476 of the Ccrfryanies Acl 2006. Hcwever, an audl is rwuired i xcordarv with sertion 144 (rfthe Chities Act 2011. The Trustees aCknMed98 Iheir reSp(m&t*S wrth the requirements of the Act with respect to The financial statements hav8 been prep¥ed in aCcd4 7Aryth thè provtsions applicable to entities subject lo the small cOmpare5 regwne. The financial slatem8nts were appro¥wJ aNI arthtsed for ISS by Ihe Tmslees on 11 September 2024 and gned on therr behaff by.. Amjad A N Bseisu The rw)tes on pages 14 to 21 fomi part (rf Ihese finwKial stat•rts. PwJe 12
THE AWAD AND SLIHA BSEISU FOLINDATION (A Cwpany LkrMt•d tr4 Guarant••) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cash flows from operatlng activltles Donatn8 received Donalions pafvJ staff costs Irt6$1 paid G¢)vemance costs Foreign exchange 388.842 919,965 1599.3741 (526, 752) 14,680) (2,563) 119.902) (5,563) 194.1401 (19,806) (4871 47,436 Net cash (used in) fr(*n operatlng aclivlu {329.7421 {51.2T7 Cash llows from Investlng actlvitles Interests from investments Prctee(Is from sale of investmenls Purchase of investments 41.185 34.565 872,748 12.318.310 11.608.752) (12,939.329) Ngt cash used In Investlng actlviti•s (694.819) (686.454) Cash iniknys frcth new bOrrrt9 9A16 Net cash provld•d by flnanclng activi11os 909A16 Change In ¢agh and cash equlvalenis In thè year Cash and caBh equival & the beginniTrJ of the year 1116.144) 487,968 1113,7371 601, 705 Cash and cash equivalents at the end of the year 372.824 487,968 The nctss on pages 14 to 21 f part ofthese finartial statements P4e 13
THE AMJAD AND SUHA BSEISU FOUNDATK)N {A Company Umlted by Gu•ranl••l NriTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 countlng pollcles 1.1 8asls of preparallon of fin•nclal statem The financial statemerrts been prepared in )rdance Wrth the Charrtres SORP {FRS 102> - AcccNJNing and Reporting by Charities.. Statement of Reccrfrynended Pr&te applicable lo charilres preparing their aecounts in aCCnee wjlh the Financial ReportiThJ Standard applicable in the UK d RepublK of IrdaThJ IFRS 102) (effective 1 January 2019). the Fintwcial RoF4)rting Standard apF4icable in the UK ar¥J RebI c4 Ireland {FRS 1021 and the Companio$ Act 20CE. The Amj•J and Suha Bseisu F(rKlatiOn meets ts definttion of a PLJlic b8nefil entity under FRS 102. As$els I'atxlitias are initialty recognwd at histortsl cost or transaction V81ue unless otheiS9 ststed in the releTht account¥ polry. 12 Incom• All income 1$ recognised orKe the Conyany has enlitth lo the income. it is probabbe that the inccThe will be f1Ved and the rnnt of income revatI b8 nasUred 118bty. Income tax reverab li relatn to 7¥est ine(xne is recognised al the Iwne thè irbveslmenl incom8 is receivable. 1.3 Expenditur• Expendrture is recogrised onc8 Ihere is a legal or constructive obligalion lo transfer economic benefrt lo a third party. il is probable that a transfer of economic ben8fils wiw be required in settierrnl and the amowtt of the obligation can be rneasured reliably. Expenditure is classrfied by activity. The eosls of each actIty are made up of the total of direet costs shared costs. including support costs invc4ved in undertaking e&h activty. Dired costs attributabla to a single &ts"vity are a1cated directly lo that adiwty. Shared costs whth ccrfrtrilyjte to more than one Xtiwty and support costs which are not attrt)ul&•le to a singie actmty are apportKJned beiween those activili8s on a basis consistent with the use of rescMJr¢es. Central staff o)sts are alkthd on the basis of time spent. and depreciation ¢harges allocated on the wrtion of Ihe ass.8 use. Expenditure on charitable activtties is incurred on directly undertaking Ihe a¢XiMti8s which further the corWns objectives. as well as any associated support costs. Grants payable are charged in the yw then the offer is male excepl in those cases %there the offer conditional. Such grts bw.ng recognised as expenditure when the conditions attaching are lfilled. Grants offered subject to conditM)ns whh have b&n at the year end are noted as a cOffnItMent, but not accrued as expendrture. AJI expenditure 15 ¥)cIusNe of irrecovera)kt VAT. 1.4 InvoStmMts Fixed asset investments are a fomi of financral inslwment and are initially reeognised at their transa¢ticffl cost and $ubsequ• m8asured al lairvae at the Balance Sheet date Unle the valua cannot be measured rdiably in whKh case it is measured at cost $$ ¥npairrnent. Investment gains 8nd losses, whether reais&l ¢y unreed. are CLYnb•"ned a)d presented as 'Gn$1(Lo$s¢sI on investments. in the Statement of ActNrties. Page 14
THE APAJAD AND SUHA 8SEISU FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 DECEMBER 2023 Ac¢ountlng polki051conthiuodl 1.5 Intsrest receivab Inleresl on fld$ held on deFW't is inckxled r•civable aTrJ the amount cari be measured relBbly by the Company. this is norm4ty upon ncrtifKioTr of the irterest pad or payable by the institutn wth the funds are ¢knsited. 1.6 Debtors Trade and other debtors are recogni5ed at the seltlennt amount after any trade di$¢ount offered. Prepayments are v4ued at th8 anUnt prepaJ net of any trade discounts due. 1.7 Cash at bank •nd In hand Cash at bank and wi hand [re$ ¢ash shcfft-tem) h3hly liquid investments wth a short maturity of three month5 or less from the dale of wuisilion or opening of th8 deposTt or similar account. 1.8 Llablllties and provlslons bilities are recognised when Ihere is w obfigation at the Balance Sheet date as a result of a past event, it is probable that a transfer ol econcfftic benefft will be required in settlament. and the amunl of the settlement can be estYnd rew. Liabilrties are recognIs at the noL)t that Company ticipat@S it wil pay to settle the dgbt or the avwjnt 51 has recei as alvanced payments th& gotrjs or servus it musl pmwde. Provisions are Measu at the best estrnate of the wnounls required to $8ttle the obligation. Wher8 the effect of the lyne value of nN)ney malerial. the provision is based on the piesent value of those amourts. (thscounted at the prts& discount rate thal reflects the risks specific to the l1a.11ty. The unwindmg ofts dIsCnI is recoJni8ed in the ment of Financial AciMts as a finance cost. 1.9 Fornlgn curr•ncl•s Monetary assets and Ikqbilities dennIthd ID fTr Curren are Iranslaled into 8t8rl.ng at rates ofexchange ruh'ng at the r41r de. Transactions in foreryn currgncies are trslal into slerlwvJ at the rate ruliYJ on Ihg dale of the Iran5aclion. ExchaTr3e gains aKI bsses are reClS¢d in the Stthenl of Fina181 Actith. 1.10 Flnancial Instruments Th8 CoMpY onty hos finaThiaf assets WKI f¥)ancial bih'liès of a kh that quah'fy as basic ffinancial instruments. Basie financial instruments are initiaty recLyJni8ed at transaction value and subsequenlly measured at their setderrent value with the exCeptn of bank loans which are subsequently measured at aThvJrtIS cost the effertp terest Pag8 15
TrIE AMJAD AND SiThIA 8SEISU FOUNDATIOM IA Company Urrmtfjd by Guarant••) NOTES TO THE FINANCIAL STATEMENTS THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcies {contlnu•dl 1.11 Fund accountlng Gereral funds are uNeStsid funds we a¥18 for use at the discretion of the Trustees in furtherance crf the 9enttal C)br$ of the C(xnpany and have not been dosvJnatgd for othgr purposes. Investwt income. pns aThl *)sses we dkded to the approate fund. Incom• from donatlons and l•gacièB Unrestrlct8d funds 2023 Total funds 2023 Tolal funds 2022 1.024,119 1,024,119 3.067,659 Tolal 2022 3,067.659 3,067,659 Investment income Total funds 2023 Total funds 2022 funds 2023 Investment irKome 41,185 41.185 31,421 Total 2022 31,421 31,421 Page 16
THE AMJAD AND SINIA BSEISU FOUNDAllON IA Conwy Lknlted by ¢knrant•e) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Anatysls of grants Grnnts io In*uon$ 2023 Total Total funds 2022 2023 Grants paid 599,375 599,375 526. 752 Total 2022 526, 752 526.752 A bst of grants pardtde during tr be obtsined frcffi the trustees w rg]uest. Governance Cosls UnrestrTrcted Totsl funds 2023 Tot81 2023 2022 Slaff salaries Staff national insurar Staff pens costs Loan interest Foreign exchange Computer expense Bank charges Audit fees Tiaval and entertarynent Advwti$ing Staff Recruitment Conference costs 96.813 2,754 2,087 20,649 118.541) 711 2.292 4.642 4.258 96,813 2,754 2,087 20,649 118,641) 711 2292 4,642 89,079 2,481 1.231 4.696 (47,435) 824 1,022 3.420 4. T71 6,589 1.689 80.442 80.442 197.796 197.796 72,078 Auditors. remunerntion The auditors, ¥emuneration amowts to an alor fee 01 £4.74012022- £4. 740). Page 17
ThE AMJAD ANO SUHA BSEISU FOUNDATION (A Company Lkn•d by Guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEIABER 2023 Tru$l¢g8' remuneratlon and oxpen Duriig the year, no Trustees receibd any remunwatv)n ow other benefits (2022- £NILJ. During the year erKled 31 Oecenkn 2023, rn) Trustee expenses have been incurred (2022- £NIL). Fixed as8•t invostmants Usted Unlhtod Investmènts Investments Total Cosi or valuatlon At 1 jUary 2023 Additions Oisposals Revaluath)ns 10?$5,823 1.808,752 1791215) 11.717,870) 1.067.4(KI 12.023,223 1.608,762 1791,215) 11,717.870) Al 31 Decen*er 2023 10,055,489 1.067.400 11,122,889 Not book value Al 31 Decer 2023 10.OSS.489 1,067AOO 11.122,889 At 31 D6cemtsr 2022 10.954823 1.067.4LXI 12.023,223 In the opinion ol the TrLtstees, markel of the unlisted investnwtst at the balance sh881 date would not be materialy drferent than shown in the statennls. Dobtors 2023 2022 Du8 Within one year Olher debtor5 Accrued incon Tax recoverable 460.000 5.808 175.000 360.277 816.085 180,808 Page 18
THE AMJAD AND SUHA 8SEISU FOUNDATION {A Umltod by Guarant••l MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 10. Cr•dltots: Amounts falling du• vAthln one yoar 2023 2022 Other loans Pension fund payable OlhLY ¢ditorS AccrLFals and deferred 891,135 473 128.248 3,704 225,031 1.120.428 132.425 11. Stat•rnent of funds Statement of fund8- curr•nt year alan¢• at 31 Galnsl D8comb•r {Logsesl 2023 8akThce at 1 January 2023 IrKome Expondlturo Unrnstrfd•d funds General Funds- all fvnds I29.574 1J165.304 1797.1711 (1,636,337) 11.191.370 St•tomont of funds- prfor year Balance al 31 D8cembei 2022 Balance al l January 2072 Gainsl {l¢seS) Expenthlurn Unrestrkted funds General Funds- all funds 9.665.754 3.099.0 (s98.0) 393,570 12,559,574 Page 19
THE AMJAD AND SUHA BSEISU FOUNDATION IA c Llmlt•d by (knrantsg) NOTES TO THE FINAMCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 11 Summary of funds 8ummary of funds- curr•nt y¢•r Balancè at 31 Galnsl December Incom• Eyndlture {Losses} 2023 Balance al 1 J•nuary General lunds 11S59,$74 1.065J14 1797,1711 11,636.337) 11,191,370 Sunwnary offund¥- prfor y•ar Balance al 31 December 2022 l January Gain In(xTh ExKendilur8 (Losses) General funds 9.665. 754 3.099,080 (598.830) 393,570 12,559,574 13. Analysis of net assets betwofjn fvnds Analys1$ of net assets funds. currenl yoar Unrgstrirtgd funds 2023 Total funds 2023 11.122,889 11,122,889 1.188,909 1,188.909 11.120.428) (1,120.4281 CUrTt a$5e¢s Cfedilors due within one ar Total 11,191.370 11.191,370 Page 20
ThE AMJAD AND SUHA BSEISU FOUNDATION Company Umlt•d by Grkn> NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 13. Anatysls of net ass•ts b•twegTr funds (conlinuedl Analysi¥ of net a8$9ts betn fvnds. prior year Unreslncted funds 2022 Total funds 2022 Fixeil asset investrnents Current assets Creditors due withn on8 ye 12023.223 12.023,223 668. 776 668, 776 (132.425) (132.425) Tal 12,559,574 12,559,574 14. Relaled paty trnnsactlons During the year lh8 folkn ¢knatI wern made by a trustee without restriction$.' - Cash donations of £741.107 {2022.. £880.662) Page 21