DocuSign Envelope ID: D1090DB9-2950-4E0D-B943-63FE31893026
Charity Registration No. 1119514
## GALHINNA WELFARE ASSOCIATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
DocuSign Envelope ID: D1090DB9-2950-4E0D-B943-63FE31893026
·' ' .
## **GALHINNA WELFARE ASSOCIATION**
## **CONTENTS**
|||**Page**|
|---|---|---|
|Legal and Administrative information||1|
|Trustees report|2- 4||
|Independent Examiners report||5|
|Statement of financial activities||6|
|Balance sheet||7|
|Notes to the financial statements|8-|13|
DocuSign Envelope ID: D1090DB9-2950-4E0D-B943-63FE31893026
## **GALHINNA WELFARE ASSOCIATION LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
Mr Mohamed Arshad Mr Mohamed Rizvi Mr Mohamed Akbar Mr Fairoos Raheem Mr Mohamed Imran Mr Mohamed Ikram Mr Mohamed Fahir Mr Mohamed Sharaf Munaf Mr Mohamed Wazeem Mr Hazam Hafeel Mr Abdul Aleem M M Mr Manas Mohamed Mr Mohamed Iyas Uwais Mr Abdul Qadir Hamza Mr M Iilyas Mohamed Imran Mr A M Mohamed Masahir Mr Mohamed Rafi Mr M I Mohamed Iqbal Mr Jesmin Jaleel Mr Safeer Sally Mr Mohamed Amanullah
**Charity number**
1119514
**Principal address**
51 Ingleby Road Ilford IG1 4RX
DocuSign Envelope ID: D1090DB9-2950-4E0D-B943-63FE31893026
## **GALHINNA WELFARE ASSOCIATION TRUSTEES REPORT** _**FOR THE YEAR ENDED 31 MARCH 2023**_
The Trustees present their report and financial statements for the year ended 31 MARCH 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the CIO's constitution, the Charities Act 2011 and "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)" (as amended for accounting periods commencing from 1 January 2016)
## **Objectives and activities**
Our objectives are set to reflect our faith and community aims. Each year our trustees review our objectives and activities to ensure they continue to reflect our aims. In carrying out this review the trustees have considered the Charity Commission's general guidance on public benefit and in particular its supplementary public guidance on the advancement of religion for the public benefit.
Our aims remain to provide a community support to the Sri Lankan Muslim in Sri Lanka struggling day to day life by financially.
The objects of the charity are set out in the charity's constitution and are summarised as:
1. To advance education of School and Madrasa pupils in Galhinna, Sri Lanka by providing and assisting in the provision of educational facilities.
2. To improve conditions of Life for the inhabitants of Galhinna, Sri Lanka.
3. To relieve Financial hardship by such means as determined by the Charity including the provision of Grants to those in needs.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the CIO should undertake.
## **OBJECTIVES AND ACTIVITIES Significant activities**
## **Charitable activities**
The charity carries out a wide range of activities in pursuance of its charitable aims. The trustees consider that these activities,
## **ACHIEVEMENT AND PERFORMANCE Charitable activities**
## **FINANCIAL REVIEW**
## **Principal funding sources**
Our Association's main sources of income are regular community members' donations and through fund raising events
## **Reserves policy**
The trustees have reviewed the reserves of the charity. Their policy is to hold sufficient funds to meet operating costs of the Association
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## **GALHINNA WELFARE ASSOCIATION**
## **TRUSTEES REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **Achievements and performance**
## **Financial review**
It is the policy of the CIO that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue ' the CIO s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The Trustees has assessed the major risks to which the CIO is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Structure, governance and management**
Galhinna Welfare Association is constituted as a Charitable Incorporated Organisation registered with the Charity Commission on 18 December 2005 as amended on 29 April 2017 under charity number 1119514. It is governed by constitution.
The Trustees who served during the year and up to the date of signature of. The financial statements were:
Mr Mohamed Arshad Mr Mohamed Rizvi Mr Mohamed Akbar Mr Fairoos Raheem Mr Mohamed Imran Mr Mohamed Ikram Mr Mohamed Fahir Mr Mohamed Sharaf Munaf Mr Mohamed Wazeem Mr Hazam Hafeel Mr Abdul Aleem M M Mr Manas Mohamed Mr Mohamed Iyas Uwais Mr Abdul Qadir Hamza Mr M Iilyas Mohamed Imran Mr A M Mohamed Masahir Mr Mohamed Rafi Mr M I Mohamed Iqbal Mr Jesmin Jaleel Mr Safeer Sally Mr Mohamed Amanullah
None of the Trustees has any beneficial interest in the CIO.
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## **GALHINNA WELFARE ASSOCIATION**
## **TRUSTEES REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
The trustees are responsible for the general control and management of the charity.
## **Risk management**
The trustees have assessed the risks the charity faces and have drawn up a risk matrix which identifies the major risks by area of activity, the nature of those risks, the likelihood of the risks happening, and the measures taken to manage them. The trustees review this risk matrix regularly at their meetings. The trustees are satisfied that systems are in place.
The Trustees report was approved by the Board of Trustees on 14[th] October 202
……………………….. ………………………………….
**Trustee Trustee** Mohamed Imran-President **Mohamed Amanullah** -Treasurer
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## **GALHINNA WELFARE ASSOCIATION**
**TRUSTEES REPORT (CONTINUED)**
_**FOR THE YEAR ENDED 31 MARCH 2023**_
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## **GALHINNA WELFARE ASSOCIATION**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF GALHINNA WELFARE ASSOCIATION**
I report to the Trustees on my examination of the financial statements of Galhinna Welfare Association (the CIO) for the year ended 31 MARCH 2023.
## **Responsibilities and basis of report**
As the Trustees of the CIO you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the ClO's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed 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:
- 1 accounting records were not kept in respect of the CIO as required by section 130 of the 2011 Act: or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements to be reached.
Amco Accountancy Services Limited
No 134 Christchurch Avenue Harrow HA3 8NN
Dated: 31[st] January 2024
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## **GALHINNA WELFARE ASSOCIATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
||**Unrestricted**
**Restricted**
**Total**
Total
**funds**
**funds**
**2023**
**2023**
**2023**
2022|
|---|---|
||**Notes**
£
£
£
£|
||**Income and endowments from:**|
||Regular Donation
2
4,527
4,527
3,409|
||Surplus income from Events
3
14,615
14,615
9,449|
||Other receipts
2
2,706
13,203
15,909
23,364|
||**Total income**
**21,848**
**13,203**
**35,050**
**36,222**|
||**Expenditure on:**|
||Charitableactivities
4
8,097
24,108
32,205
19,171|
||Other Expenses
414
414
248|
||**Total Expenditure**
**8,511**
**24,108**
**32,619**
**19,419**|
|||
||**Net income for the year/**|
||**Net movement in funds**
**13,337**
**-10,906**
**2,431**
**16,803**|
||Fund balances at1 April 2022
14,620
2,183
16,803
16,803|
||**Fund balances at 31 MARCH 2023**
**13,337**
**-10,906**
**2,431**
**2,431**|
|||
The statement of financial activities includes all gains and losses recognized in the year.
All income and expenditure derive from continuing activities
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## **GALHINNA WELFARE ASSOCIATION**
## **BALANCE SHEET**
_**AS AT 31 MARCH 2023**_
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||**`2023`**||||**`2022`**|||
|||**Notes**||£||£||£||£|
|**Fixed assets**|||||||||||
||||||||||||
|**Current assets**|||||||||||
||||||||||||
|Cash at bank andinhand||||6,571||||6,789|||
|Debtors||||5,891||||3242|||
||||||||||||
|||||12,462||||10,031|||
|**Creditors: amounts**
**falling due within**|||||||||||
|**one year**||||0||||0|||
|Netcurrent assets|||||||||||
|**Total assets less current**
**liabilities**||||||12,462||||10,031|
||||||||||||
|**Net Income funds**|||||||||||
|Restricted funds/|||||||||||
|Unrestrictedfunds||||||12,462||||10,031|
The financial statements were approved by the Trustees on 14[th] October 2023.
……………………….. ………………………………….
**Trustee** Mohamed Imran-President
**Trustee** Mohamed Amanullah-Treasurer
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## **GALHINNA WELFARE ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Accounting policies**
## **Charity information**
Galhinna Welfare Association is incorporated as charitable incorporated organisation (CIO).
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the CIO's constitution, the Charities Act 2011 and "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)" (as amended for accounting periods commencing from 1 January 2016). The CIO is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the CIO. Monetary amounts in these financial statements are rounded to the nearest£.
## **1.2 Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the CIO has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Incoming resources**
Income is recognised when the CIO is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the CIO has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
DocuSign Envelope ID: D1090DB9-2950-4E0D-B943-63FE31893026
## **GALHINNA WELFARE ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Accounting policies**
## **(Continued)**
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business.
## **1.5 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.6 Financial instruments**
The CIO has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the CIO's balance sheet when the CIO becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, 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 settle the liability simultaneously.
DocuSign Envelope ID: D1090DB9-2950-4E0D-B943-63FE31893026
## **GALHINNA WELFARE ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
_**FOR THE YEAR ENDED 31 MARCH 2023**_
DocuSign Envelope ID: D1090DB9-2950-4E0D-B943-63FE31893026
## **GALHINNA WELFARE ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
- **1 Accounting policies**
**(Continued)**
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are 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, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the CIO's contractual obligations expire or are discharged or cancelled.
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|2 Regular Donation|2 Regular Donation|2 Regular Donation|2 Regular Donation|||||**Total**|**Total**|||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||**Unrestricted**||**Restricted**||||Total||
|||||**funds**||**funds**||||||
|||||**2023**||**2023**||**2023**||2022||
|||||£||£||£||£||
|||||||||||||
|Regular Donation||||4,527||||4,527||3,409||
|Other receipts||||2,706||13,203||15,909||23,364||
|||||||||**Total**||||
|||||||||||||
|||||||||||||
|3 Surplus income from Events||||||||||||
|||||**Unrestricted**||**Restricted**||||Total||
|||||**funds**||**funds**||||||
|||||**2023**||**2023**||**2023**||2022||
|||||£||£||£||£||
|||||||||||||
|Surplus income from Events||||14,615||||14,615||9,449||
|||||||||||||
|||||||||||||
|||||||||||||
|||||||||||||
|||||||||||||
|||||||||||||
|||||||||||||
||4 Charitable activities||||||||**Total**|||
||||||**Unrestricted**||**Restricted**||||Total|
||||||**funds**||**funds**|||||
||||||**2023**||**2023**||**2023**||2022|
||||||£||£||£||£|
|||||||||||||
||Charitable activities||||8,097||24,108||32,205||19,171|
|4 Charitable activities|||||
|---|---|---|---|---|
||**Unrestricted**|
**Restricted**|**Total**|Total|
||**funds**|
**funds**|||
||**2023**|
**2023**|**2023**|2022|
||£|
£|£|£|
|Charitable activities|8,097|
24,108|32,205|19,171|
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## **5 Trustees**
None of the trustees received any remuneration during the year.
## **6 Employees**
No employees during the year