CFR (UK) (A company limited by guarantee) Report and financial statements 31 December 2022 Company number 06267939 Registered Charity number 1119999
CFR (UK) COMPANY INFORMATION RefereDce and admiDiStrgtive inforjnation Trustees and Direetors Mansoor Esmail Feiza Tazdin Jivrdj Sikin Velji Registered orrjce Quadrant House- Floor 6 4 Thomas More Square London Elw IYW Company nurnber 06267939 Cbarity number 1119999 Auditors UHY Hacker Young Quadrdnt House 4 Thomls More Sqllare London Elw IYW Bankers Lloyds TSB Bank PIC Pall Mail St ja¢5,5 Branch 8-10 Waterloo Place London SWIY4BE Legal advisors Stone King LLP 13 Queen Square Bath BAI 2HJ
CFR (UK) CONTENTS Page Report of the Tnstees Independent auditors, report 8- 11 Statement of financial activilies 12 Balance sheet 13 Ch flow staiement 14 Noies to the financial statements
CFR {UK) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees are pleased to present the Annua] Report and financia] statements of CFR (UK) for the year ended 31 December 2022. Trustees The Trusiee5 who held office during the year and up to date of signature of the financial statements were as follows.. Mansoor Estnail Sikin Velji Nadia Bhimji Feiza Tazdin Jivraj Rcsigned 30 NovcTnber ?022 ApFK>ind 30 November 2022 About CFR (UK) CFR (UK) has the aim of contrib1ng to the quality of life of the members of the Shia Imami Ismaili Muslim Community (the 'Community') through its events and prorntnes. The charity's objectives refiect this aiTn and are set out below: To advance the Shia Imami Ismaili Muslim faith and tradition. in particular but not exelusively by holding religious gatherings and commemordtiv¢ fesiivals and disseminating infomation. To advance education in th¢ history and culture of the Community. To promote the mentat, spiritual, Tnora] and physical development and improvement of members of ihe Community for ihe public benefit and to provide opportunities for them to develop their full capacities and enable ihem to tcome r¢Sn51b]e members of socieiy. To relieve the needs of the members of the Commwiity. To advance such excI]Ve1Y charitsble purpose5 as the Trustee5 shall decide. The Trustees have complied with their dury to have regard to the publi¢ benefit. as sei out in the guidance issued by the Charity Cornmission. The programmes and activities of the charity take into account the Charity Commission's public benefit criteri Volunteers VolunteeT5 are key to the operations of CFR(UK). The Tnjsiees are grateful for iheir commitment and generous sUPPOrt in the delivery of the charity's progrdmmes, and in enabling the charity io meet ils governance and other requirements. The financial value of ihe coniribution made by th¢ charity's volunteers has neither been calculated nor included the financial statements as it is difficuli to quantify in monetary temis. Achievements #Dd Performance in 2022 With the worst of the Covid pandemic behind us. the Tiusiees and Voluntee of the charity have been able to resume in-person progrdmrnes and aciivities during ihe year under Trview. Active social and voluntary engagement h&$ helped the Community towards its recovery from the challenges posed by the pandemic.
CFR (UK) Applications for grant-funding and progrdmme adoptions are assessed on a case-by-case basi5 using a number of criteria. These include the objectives of the programme and accessibility of the programme io marginalised and vulnerable membets of the Cotnmunity- The prograrnme5 and activities supported by CFR (UK) in 2022 in pursuance of its charitable aims To provide funding io improve ihe quality of life of disadvantaged Members of the Community with complex needs. Members are encouraged to reach their full ]x)tential by signFx)sting them to relevant support mechanisms and agencies. Guidance is given on a range of issues with the aim of alleviating poverty and improving hou5in& economi¢ well-bein& education. physi¢al and mental health. Opportunities for members of the Community to access online educational courses and training. Courses undertaken include learning English. health and nutrilion. and IT skills. Lifelong learning benefits include improved economic welfare as well as positive effects on the physical and mental health ond well-being of the individual. their families, and the Community. Three age -specific residential youth camps for young people aged from 8 to 15 years and run by young adults aged 21-30 years. These camps have an overa]I purpose of providing an environment to challenge the youth physically and intellectually. They help to chart a safe passage for them as they navigate through life challenges facing them, enable them to conne¢t with others from different cultures and diverse background& to build lasting friendships and proTnote a positive altitude io volunlary service both within the Community and society at large. A sports weekend for the whole community of all age5 and backgrounds to participate in various sports and activities including climbing chess. netball. fooibail, and badminton. Additional sessions were a150 held to promotr healthy lifestyles. mindfulness and raising awane$S of non-communicable diseases and how to prevent them. Musical workshops culminating in a concert perfortnance of original compositions by an Ensemble of aspiring ML1Clans of all ages. both amateur and professional. The programme a150 provides an opportunity for developing ieamwork. encouraging discipline io commit to the progrnnme and building confidence io rfOrn] on stage. The Music reflects the diversity of trnditions within ihe Community. helping to promoie understandin& tolerance. and mutual resp¢¢t amongst people from differeni culture5 and faiths. Future Plans The Charity has and will continue Tts support of the exisling range of programmes to further its objectives. These include educational attd 5POrts progrdmmes, youth carnp5 and initiatives to support disadvantaged members. In 2023. there will also be a series of events promoting the engagement of individuals in the arts and sports. thereby nurturing talenL building self confidence in individuals and a stronger Community. The Trtee$ are also keen lo sup]M)rt diversity and inclusion (D&l) initiaiive5 and will consider any applications for funding where D&1 15 a particular focus. The Trustees are grnieful for the ottgoing donations from Ular donor& who have continued to support the charity. At the time of wriiin& the Trustees have no plans io undertake additional fundraising in 2023.
CFR (UK) Financial Revie A summary of the r¢suli of CFR (UK)'s aClivili¢s during 2022 is given in the Stalement of Financial Activities on pagc 12. The comparaiive figures below relate to the year l January 2021 to 31 De¢ember 2021. The ineome from donations and income genernted from activities of CFR (UK) were sufficient to carry out the planned programmes and events during the year. The total income of the ¢harity amounted to £221,317 (2021.. £167,238), which included income from donations of £143.150 (2021: £158,592) ad income from ctwitable activities of £78.167 (20?]: £8.646). Governance ¢osts of £19,843 (2021: £14,363) consisted of audiL legal and professional fees and administrative expenses. These costs were approved by the Tnjstees. CFR (UK) does not incur any employment costs all of the charity's programtnes and activities are delivered by volunteers. The total fund5 at 31 December 2022 were £567,606 (2021: £646.884), all of which were unrestricted funds. In the Trustees, opinion, there are adequate a55ets available to fulfil the obligations of CFR(UKI in 2023. The ¢hariiy has no long-ierni investments. Risk Management Prineipa] risks in the k¢y areas of CFR (UK)'s operntions are reviewed and assessed by the Trustees on ongoing bLs. The Truslees are satisfied th appropriaie systems and ¢ontingen¢y plans are in place to manage and mitigate risks that have been identified. Thc Trustees will ¢ontinue to monitor Ihese in order to manage the delivery of its core a¢iivilies and priorities effectively. ReserYe5 Policy The Trustee5 have reviewed the reserve5 of the charity. haying regard to the power in th¢ Memordndum and Articles of Association of ihe charity to set &side funds as reserves for future expenditure. The charity held iotal reserves of £567,606 (2021: £646,884) ail of which were unrestricted funds. In the opinion of the Trustees, there are adequ*e assets available to fulfil the routine obligations of CFR(UK) in 2023. Structsre, GovernaDee aDd Management Sialemenl of Trus¢ees' ResFop75ibililEe5 The Trustees are responsible for preparing the Annual Re]xirt and financial statements for each financial year in accordanc¢ with the law appli¢ablc io ¢hariiies in England & Wales. They have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Pra¢li¢¢, applicable lo Ctwities preparing th¢ir accounts in accordance with the United Kingdom Accounting Standards (specifically, the Uniied Kingdom Generally Accepted Accounting Practice. including FRS 102.. The Financial Reporting StandaTd applicable in ihe UK and R¢publi¢ of Ireland). The Annual Repon and financial statements also comply with the Cornpanies Act 2006. Company law requires the dire¢iors, who are refer io here as the Trustees, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity at the year end and of its incoming resources and resourc expended during that year. In preparing those financial statements. the Trustee5 e required to-
CFR (UK) select suitable accounting policies and ihen apply them Consistently; make judgernents and estimates that are reasonable and prudent: state ivhether applicable accounting standards and statements of recommended practice have been followed subjecl to any departures disclosed and explained in the financial statements- prepare the financial statements on the going concem basis unless it is inappropriate to presume thal the charity will continue in business. The Trustee5 are responsible for keeping proper accouniing records. which disclose wilh reasonable accuracy at any time the financial posiiion of the chariiy and enable them io ensure that the financial statements Comply with the Companies Act 2006. They are also resFM)nsible for safeguarding the assets of the charity and hence for taking reasonable Sleps for the prevention and detection of fraud and other irregularities. Legalsialus and Govenling documenl CFR (UK) is a charitable ¢ompany limited by guarantee, in¢orwrai¢d in England & Wales on 4 June 2007 and registered as a charity on 10 July 2007. The objects and rM)wers of the company were established in it5 Memorandum of As%)ciation and are governed by its Articles of Association. The charity commenced operation on the d*e of incorporation. Tr dIlor$ of the charitable company are its Trustees for the purposes of charity law. Organis&iionÉ31 Sirueiure The Trustees are responsible for ihe general Conlrol and Fnanogement of the Charity, for setting the overall strategy of the charity. as well a5 its policies and priorities. They are also responsible for reviewing and authorising requests for grdnts and adoption of prOaMmes. The Tnjsiees give their lime on a voluntsry basis and re¢eive no remuneration or oiher financia] benefits. The Trustees meet a8 required io manage and guide the day-lo-day running of CFR {UK). The Trusiees are assisied by a number of profe&siona]s, many of whom give of their lime and expertise on a voluntary basis. Mansoor Esmail, who is a Trustee of the Charity. was aiso a member of Ihe Ismaili Council for the UK during the year under review. The Council has 20 meJnber5 in all. During the year. grants of £143,205 (2021.. £84.071) were awarded to the Council for various programmes. These grants were only made when the Trusiees We satisfied ihat they were in keeping wilh ihe ¢harily'S objectives, Appoinimeni The Trustees who held oifice during the financial year and the Trustees who hold office as at th¢ date of this report are sei out on page l. The Trusiees are appointed in accordan¢e the rules set out in the Articles of A550ciation. New Trustees appointed to the charity undergo orienlation and training on their legal obligations under charity and company law. They are also given training on the provisions of the Memornndum and Articles of Associatiow and on the charity's strategy. decision-making process and ]K>li¢i¢s.
CFR (UK) Inieresls ofihe Tru51ees None of the Truste¢s had, at any time during the financial year. any interests in CFR (UK} that are required to be disclosed in ihis report. Auditors The auditors, UHY Hacker Youn& are deemed to be reapinted under section 487 (2) of the CoTnpanies Act 2006. Siotement ofdiselosure ioAudilor So far as the Trustees are aware.. (a) (b) there is no relevant audit infonnation of which the ¢ompany's auditots are unaware. and they have taken all the steps lh they ought to have taken as trustees in order to make themselves aware of any relevanl audit inforniation and to establish ihat the company's auditors are aware of that infomiation. The Trustees, report was signed and authorised on behalf of the Board of Trustees on . 2023 by.. Mansoor Esmail Truste¢
UHY Hatker Young LLP QUrant House 4 Thoma5 MO Square London Elw IYW Hackeryoung Chartered Accountants INDEPEF4DENT AUDITORS, REPORT TO THE TRUSTEES OF CFR UK Opinion on financial st4tctDents We have audited ihe financial stateTnents of CFR (UK) for the year ended 31 December 2022 which comprise the Statement of Financial Activilies. the Balance SheeL the Cash Floiv Statement and notes to the financia] siatements. including significant a¢¢ounting )lICIes. The financia] reporting framework that ha5 been applied in their preparaiion is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial ReEX)rting Standard applicable in the UK and Republi¢ of Ireland (United Kingdom Generdlly Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the Chlble company's affairs as at 31 December 2022, and of its incoming resources and appliclon of resources. including its income and expenditur¢, for the year then ended- have been properly prepared in accordance with United Kingdom Genernlly Accepted Accounting Prdctice: and have been prepared in accordance with the requirements of the Companies Aci 2006. Basis for opinion We conducied our audit in accordance with International Standards on Auditing {UK) (ISAS IUK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financia] slatements section of our report. We are independent of the company in accordance with the ethical requirements thai are relevant to our audit of the financial statements in the UK. including the Financia] Reporting Council's (FRC'S) Ethical Standard, and we have fulfilled our other ethica] responsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined is 5uificient and appropriate to provide a basis for our opinion. CoDelusions relating to going Concern In auditing the financial Statements. we have concluded that the trslee$. use of the going concern basis of accouniing in the preparation of the financia] statement is appropriate. Based on the work we have perfornied. we have not identified any material uncertainties relating to events or conditions that. individually or collectively. may cast significant doubt on the charitable company's ability to continue as a going Concern for a period of at least twelve rnonths from when the financial siatements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report.
UHY HKker Young LLP Quadrant HOUSÈ 4 Thornas MoFe 5quwe London Elw IYW Hackeryoung (hartefed A(C(tants Ir4DEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF CFR UK Other infonnation The other infonnation comprises the infoTmation included in the annual report, including the Trustees, report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other inforniation. Our opinion on the financial ateMentS does not cover the other information and, except to ihe extent otherwise explicitly stated in our repo¢ we do not express any fom of &ssurdnce conclusion thereon. In ¢onne¢lion with our audii of the financial statemenw our responsibility is io read the other information and, in doing so, consider whether the other inforniation is materially inconsistent with the financial atements or our knowledge obtained in the audit or otherwise apFKars to be materially misstated. If we identify such mat¢rial in¢onsisiencies or apparent material misstatements, we are required to determine whether thcrc is a material misststement in the financial statement5 or a Tnaterial misstatement of the other information. If, based on ihe work we have perfonned. we conclude that there is a material misstatement of this other infornil0n- we aff required to report that fact. We have nothing to retM)rt in this regard. Opinions oll other matters prescribed by the Companie5 Ac¢ 2006 In our opinion. based on the work undertaken in the Course of our aLtdii: the infortnation given in th¢ trustees. trport for the financial year for which the finan¢ial statements are prepared is Consisteni with ihe financial statement5- and the trustees, report has been prepared in accordance with applicable legal requirements. Matters on whicb we are required to report by exceptlOD In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the &udit, we have not identified material mi55tat¢ments in the trustees, report. We have noihiJJg to report in respeci of the following matters Whe the Companies Act 2006 requires us to report io you if, in our opinion= adequate arcounting r¢¢ords have noi been kepL or returns adequate for our audit hav¢ not been received from branche5 noi visited by us. or the financial statements are not in agreement with the accounting rerdS and retum5' or certain disclosures of trustee5' fcTnuneration specified by law are not made. or we have not received all the inforniation and explanaiions we require for our audit- or the tnjstees were noi entitled to prepare the financial statcJnents in accordance with the small ompanies. regime and take advantage of the small companies. exemption in preparing the tru51ees' report and from the requirement to prepare a strdtegic reporL Responsibilities of tstetS As explained more fully in the Statement of Trustee5' Responsibilities set out on pages 5 6, the Trustees (who are a150 the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for b¢ing $iSfied ihat they give a true and fair vi¢w, and for such iniernal control as the Trustee5 detemiine is necessary to enable the preparation of financial siatements thai are free from material misslatement, wh¢iher due io fraud or error.
IIHY Hacker yo9 LLP Quadiènt HtJU5E 4 Thoma5 More Square L(d0 EIW 1 Hackeryoung Chartered Accountants INDEPEN'DENT AUDITORS, REPORT TO THE TRUSTEES OF CFR UK In preparing the financial statements. the TnLStees e responsible for assessing the ¢harity'5 ability to continue as a going concern, di5closin& as applicable. matters related to going concern and using the going concern basis of accounting unless ihe trustees either intend to liquidate the charity or to ceas¢ operations, or have no realistic altemaiive but to do so. Auditor's respoDsibi]ities for the audit of the financial statements Our obje¢tives are to obtain re&sonable assurance about whether the financial staiements as a whole are free from material misststemenL whether due to fraud or eTror. and to issue an auditor's repoff that includes our opinion. Reasonable assuranc¢ 15 a high level of assurance, but is not a guardntee that an audit conducted in accordance wilh ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasotobly be expected to influen¢e the economic decisions of users taken on the b&sis of these financial statements. The extenl to which our procedures are capable of detecting irregularities. including fraud is detailed below". Based on our understanding of the charitable company and the industry in which it operates, we identified that the principal risks of non-compliance iviih laws and regulations related to the acts by the charitable Gompany. which were contrary to applicable laws and regulations including fraud, and we considered the extent to which non-compliance mighi have a Jnaterial effect on the finaneial siatemenls. We also considered those laws and regulations thai have a direct impact on the preparation of the financial statements su¢h as the Companies Act 2006. We evaluated management's incentives and opportunities for frdudulent rnanipulalion of the financial Siatements (including the risk of override of controls), and detemined that the principal risks were related to inflated revenue and the charitable company's n¢t inGome for the year. Audit procedures perfomied included= review of the financial staiement disclosures to underlying supporting documentation, enquiries of managemeni and tesiing of journals and evaluating whether there evidence of bias by the tnLStees that represented a risk of material misstatement due to fraud. There are inherent limitations in the audil procedures described above and the further removed non- Compliance with laws and regulations is from the events and transactions reflecied in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due io fraud is higher than the risk of noi delecting one resulting from error. as fraud may involve delibeme ¢on¢ealment by. for example. forgery or intentional misrepresentations, or through collusion. A further description of our responsibililies for the audit of ihc financial Statements is located on the Financial Reporting Council's iveb5ite at.. htt .'l/u'w'H,.frc.or .ukJaudltores onsibilities. This descriplion fornis part of our auditor'5 report. 10.
UHY Hacker Ygung LLP adfanl HDuSe 4 Th(w5 More SqUe Lonc%y EIW IYW Hackeryoung Chartered k<DunlanTS INDEPENDETr AUDITORS. REPORT TO THE TRUSTEES OF CFR{UK) Use of our retmjrt This report is made solely to the charitable compaDy'S membe]s as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 96. Our audit work has en undertaken so ihat we might state to the company's members those matter5 we are rcquired io state to them in an auditor's report and for no other purpose. To the fullest extent perrnitted by law, we do not accept or assume responsibility to anyone other than ihe charitable company and the Chitable company's members as a trM)dy. for our audit worL for this ttpo¢ or for the opinions we have fornied. •Hdfy4/t Harriet H¢Klg50N-Grove (SeDior Statutory Auditor) For and bebalf of UHY Hacker Young Chanered Accountants Ststutory Auditor Quadrant House 4 Thomas More Square London Elw IYW 25th September 2023
CFR (UK) STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING SUMMARY OF INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022 2022 UDrestrieted runds 2022 Total FndS 2021 Total funds Incorning Resource5 Not Incoming re50I1rce5fromgeneraied Voluntary income- dotVdlion5 143.150 143.150 158,592 143.150 143.150 158,592 Incomin% rtsourcesfrom chllrilable clivilies.. Income from various programme activities in furthernice of the objects of the charity 78.167 78.167 8.646 Total incoming resourtes 221J17 221.i17 167,238 Resources Expended Cliarilahle ocliviiies." Costs of various programmc activities in furtherance of the objects of the charity Governance costs (280.752) (19.843) (280.752) (19,843) (96.423) (14.363) (300.595) (3(K).595) (110,786) Total resources expended (300.595) (3(K),595) (110.786) Net (deficity surylus for tbe ye#r (79278) (79278) 56.452 Total Funds brought forward 646.884 646.884 590,432 Total Funds carried fonward 567.606 567,606 646,884 All of the above results are derived from continuing activities. All gain5 and losses Tecognised in the year are included in the above. The notes on pages 15 to 20 forn) part of these financial Statements. 12.
CFR (UK) BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Notes CurreDt #55ets Debtors Cash at bank and in hand 10 10,829 567.354 9,022 666,578 578.176 675,600 Creditors: #tnounts falling due ivithin one year (10.570) (28.716) Net ¢urr¢nt assets 567.606 646,884 Net a55ets 567.606 646,884 Funds UtLf¢5lri¢ied funds 14 567.606 646.884 Total unrestricted funds 567.606 646.884 The financial ateMentS have been prepared in accordance with the pmvisions applicable to companies subject to th¢ STnall companies, regime. The financial statements on pages 12 to 20 were approved by the Board of Trustees on . 2023 and were signed on its behalf by.. 2< JT Mansoor Esmaii Trustee FeiTA Jivr#j Trustee Company Registration number.. 06267939
CFR (UK) CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022 Note5 2022 2021 Cash flows from operdting 2ctivitÉes Net cash from operdting activities 13 (99.224) 66,822 Change in Cash and cash equivalents in the year (99,224) 66.822 Cash and c&h equivalents at ihe beginning of the year 666.578 599,756 Cash and cash equivalents at tbe end of the year 567.354 666,578 The notes on pages 15 to 20 forn] part of these financial ateMents. 14.
CFR (UK) NOTES TO THE FtNAf*CIAL sTATEMETs FOR THE YEAR ENDED 31 DECEMBER 2022 Statutory illformation CFR (UK) is a company limited by guarantee, domiciled in England and Wales. registration number 06267939. The registered office is Quadrant House Floor 6, 4 Thomas More Square, London Elw IYW. Accounting lie2CS The prin¢iple a¢¢ouniing policies adopted. judgements and key sour$ of estitnation uncertainty in ihe preparation of the finartcial statements are &$ follows.. Ba515 of preparation These accounts have been prepared in accordance with FRS 102 'Th¢ Financial Reporting Standard applicable in the UK and Republxc of Ireland ('FRS 102.). 'Accounting and Rerxirting by Charities. the Statemenl of Recollun¢nded Practice for charitie5 applying FRS 102, the Companies Act 2006 and UK Generally Accepted Accounting Practice. CFR (UK) meets the definition of a publi¢ benefit cntity under FRS 102. Assets and liabilitiC5 are initially recognised ai historic cost or Iransattion valuc unless Othcrwise statcd in the relevani a¢¢ounting policy note& Th¢ a¢¢ounts are prepared in sterlin& which is the functional cutrency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. Going concenb As part of the going coe teview. the cash flows of the charity are being carefully monitored. The TStee5 are confideni the charity h&s adeqvaie reserves and that there are no material uncertainties aFM)ut the charity's ability to continue as a going concern for the foreseeable future. Funds General funds are unresiricied funds available for use at the dixretion of the trustees in furtherance of the general objectivcs of the ¢kwity and which have noi b d¢signaE¢d for other purposes. There are no designated funds and no restricted fund5. Foreign ¢urren¢ies Transactions in foreign Currencies are recorded at the rdte ruling at the date of the transaction. Monetary ak8ets and liabilitie5 are retran51ated at the rate of exchange ruling at the balance sheet date or at a contracted rdte, if applicable. Ekchange gains or losses are included in the Statement of Financial Activities. 15.
CFR (UK) NOTES TO THE FINANCIAL sTATEMETs (CONTINUED) FOR THE YEAR Ef4DED 31 DECEMBER 2022 Incoming resources Voluntary income. comprising donations. provides core funding and is of general nature. This 15 recognised where there is entitlement. certainty of receipi and the amount can be measured with sufficient reliabiliiy. VAT 15 accounted for on the siandard rated activities. All such income in the financial skntements is net of VAT. Investment income is recognised on a receivable basis. The value of service5 provided by volunieers is not illCOTpordted into these financial statements. Further details of the coniribuiions made by volunteers can be found in the Ttee$. Report. Resources expended ExTnditUre is recognised on an accrua]s basis a5 liability is incurred. Charitable income and expendilure 15 allocated to the respe¢tive activities and any shortfall is funded from unrestri¢ied funds. Programme costs comprise those costs incurred by the charity in the delivery of its activitie5, including Ix>th cosis thai can be allocated directlv io such activitie5 and those cosis of an indireci nature necessary to supFM)rt them. Governance rosts include those costs asso¢iated with meeiing the ronstitutional and statutory requirements of the charity- Irrecoverable VAT És ¢harged against the category of resources expended for which it was incuTred. Gran15 awarded are charged in the year when fornially awarded by the Trustee5 and communicated to the recipient. irrespective of the period covered by the donation. as they are regarded by the Trustees as financial obligation5. Financial instruments The charity only has basi¢ finon¢ia] assets and financial liabilitie5 of a kind ihat qualify Rs ble financial I8(Ments. Basic financial instruments are initially recogni5ed at transa¢lion value and subsequently measured at their settlement value. Critieal aeeounting e5tirnates aDd judgements In the application of the charity's a¢counling policies. the trusiees ore required to make judgements. estimates and assumptions about the carrying amount of assets and liabilities thai are not readily apparent from other sources. The estimates aftd a550ciated assumptions are based on hisiori¢a] experience and other factors th are considered to b¢ leVant. Actual results Jnay differ from these estimates. The estimates and underlying assumptions e reviewed on an ongoiJJg basis. Revisions to accounting estimates are re¢ogni5ed in Ihe period in whÉch the estimate is revised whetr the revision affects only that period. or in the period of the revision and future periods Whe the revision affects both current and future periods. The trustees do not consider the to be any estimates or assumptions which have a significant risk of causing a material adjustment to the carrving amount of the assets and liabilities in the financial staiements. 16.
CFR (UKI NOTES TO THE FINANCIAL STATEIMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Emolumcnts to the Trustees No emoluments wcrc paid to the Trustees. The Trustees did not claim. nor receive, reimbursement of expenses incurred by them in the course of their duties. Employee informgtio There were no employees (2021.. nil) and there are no costs related to this. Voluntary income Unrestrieted fllnds 2022 Unrestricted funds 2021 Donations and Gift Aid 143.150 l i8,592 Programme activities The costs of various progrdmme activities of the charity can summari5ed in the following theMlC areas.. 31 Decernber 2022 Faith Community aDd developmeDt traditio Raising awareness Total 2022 Total 2021 Note Direet Costs Governance costs (271,5791 (19.1941 (9.1731 (649) 1280,7521 {19,843} 196.423) 114.3631 Total costs allocated {?90,773) {300.5951 (110,7861 31 December 2021 Faith Community and deye10peNI tr4dilio Raising awarentts Total 2021 Total 2020 Note Direct costs Governartce costs {91.190) (13,665} (5.2331 {6981 196,4231 (14.3631 161,274) (13.740) Total ¢osts allocated (104.855) (5.9311 1110,7861 175.014) 17.
CFR (UK) NOTES TO THE FINANCIAL STATEMENrs {cor4TINUED) FOR THE YEAR ENDED 31 DECEIMBER 2022 7.a Analysis of direet ¢o$ts Note 2022 2021 Grants awarded Venue c05t Programme support costs 143,205 95.441 42,106 84,071 3,518 8,834 Totsl direct fosts 280.752 96,423 7.b Analysis of %oYernanee Costs 2022 2021 Administration, professional and legal costs Auditors. remun¢rntion 9,843 10.000 6,863 7,500 Total governance eosts 19,843 14.363 Direct Costs have been incurred in furthering the objects of the ¢h8rity in the following Ihematic areas= (l) Faith and irdditions- {2) Community development. and {3) Raising awareness and are allocated on a percentage basis of the iotsl direci Costs associaied with the activity. Grants awarded 2022 2021 Regular grants awarded lo institutiOll5 143,205 84,071 Total awarded to iD5titutions 143,205 84,701 Net incoming resources The net incoming resources are stated after charging the following costs.. 2022 2021 Auditors, remuneration 10.000 7.500 18.
CFR (UK) TrIOTES TO THE FINAP*CIAL STATEMENTS (cof4TINUED) FOR THE YEAR ENDF.D 31 DECEMBER 2022 io. Debtors 2022 2021 Gift Aid recoverable Other debtors Prepayments VA T refundable 4,489 183 2.458 3.692 5.009 119 2.109 1,785 10,822 9.022 ii. Creditors 2022 2021 Other credito Grants payable Accruals 11,510 9,706 7,500 i70 10,000 10,570 28.716 12. Taxation The cotnpany 15 a registered charrry and is not liable lo corpordtion tax on its charitable activities. Gift aid donations are reclaimed by the company. 13. Reconciliation of net movement in resources to Det cash innow from operatiDg 4¢tivitie$ 2022 2021 Net (deficit)I surplus for year (Inereasey decrease in debiors (tk¢r¢ase)/ increase in Creditors (79:?78) (1,800) (18.146) 56,452 (2,603) 12.973 Net cash from operniing activities (99,224) 66,822 19.
CFR (UK) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 14. Reconciliation of unrestri¢ted funds 2022 2021 Balance as at l January Net movement in resources for the year 646.884 (79.278) 590.432 56,452 Balance as at 31 Decetnber 567.606 646,884 Represented by: 2022 2021 Current assets Curreni liabilities 578.176 (10,570) 675,600 (28,716) 567.606 646,884 15. Related party transactiODS During the reponing year. Mansoor Esmail. Trustee of the charity. wa5 also a mernber of ihe Ismaili Council for the UK (*he Coun¢ill. The Council has 20 members in total. During the y¢ar. granis of £143.205 (2021- £84.071) were awarded to the Council for progrdmmes where the Trustees have been satisfied that these were in keeping with the charity's objectives. 20.