CFR (UK) (A eompany limited by guarantee) Report and fmancial statements 31 December 2024 Company number 06267939 Registered Charity number 1119999 UHY
CFR (tfK) Reference and administrative inforniation Trustecs and DirtOrS Aliyyah-Begum Nasser Salim Damani Feiza Jivrai Registered office Quadrant House - FIooT 6 4 Thomas More Square London Elw IYW Company number 06267939 Charity number 1119999 Auditorj UHY Hackcr Youn8 Quadrant House 4 Thomas More Square London Elw IYW Bankers Lloyds BaJ)k PIC St James's Branch 8-10 Waterloo Place London SWIY4BE advisors Stone King LLP Upper Borough Court Upper Borough Wells Bath BAI IRG
CONTENTS Page Report of the Trnstees Independent auditors. report 9-12 Statement of financial activities 13 Balance sheet 14 Cash flow statement 15 Notes to the fAnan¢ial statements 16-21
CFR (UK) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees are pleased to present the Annual Report and fanCIal statcmcnts of CFR (UK) for the year ended 31 Deceznber 2024. Tru5tec5 The Truste&s who held office during the year and up to date of signature of the financial statements were as follows: Aliyyah-Begurn Nasser Salitn Damani Feiza Jivrai About CFR (UK) CFR (UK) has th¢ aim of contributing to the quality of ]if¢ of the members of the Shia Imami Istnaili Muslim Community (the 'Community') through its events and pro8mMeS. The charity's objectives reflect this aim and are set out below: To advance the Shia Imami Ismaili Muslim faith and traditio in particular but not exclusively by holding religious gatherings and commemorative festivals and disseminating inforniation. To advance education in the history and culture of the Community. To promote the mentaI. spiritual. moral and physical developm¢nt improvement of members of the Community for the public benefit and to provide opportunities for them to develop their full capacities and enable them to become respomible mernber5 of society. To relieve the needs of the members of the Community. To advance such exclusively charitable purposes &% the Trustees shall decide. The Trustees have complied with their duty to have regard to the public benefi( &s set out in the guidance issued by the Charity Commission. The prOarnMeS and activities of the charity take into account the Clwity Commission's public benefit criteria. Volunteers Volunteers e key to the operations of CFR(UK). The Trustees are srateful for their commitment aad generous support in the delivery of the charity's prOe3, and in enabling the charity to meet its governance and other requirements. The f]nancial value of the conrribution made by the charity's volunteers has neither been calculated nor included in the financial statements as it is difficult to quantify in monetary ternis. Achievements and Perforniance in 2024 Applications for ant-fuUdjlls and programme adoptions are assessed on a case-by-case basis using a number of criteria. These include the objectives of the programme and accessibility of the programme to marwalised and vujnernble members of the Con]munity.
CFR (UK) REPORT OF THE TRusfEES (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 Th¢ programmes and activities supported bv CFR (UK) in 2024 in pursuance of its ChItable aims were: To prnvide fLmding to improve the quality of life of disadvantaged members ofthe Community with complex needs. Members are encouraged to reach their full potential by signposting them to relevant support mechanisms and agencies. Where required member5 supported over a multiyear period with family mentoring. Guidance is given on a range of issues with the aim of alleviating povety and improving housing* economic well-being, edu¢atiory physical and mental health. 2024 has seen an increase in complexity in the nature of needs that members are presenting with. Opporn]nities formcmbcT5 of the Community to access online ¢du¢ational Courses and trainin& Cours¢s undertaken include learnino Englisty healtb and nutrition. and IT skills. Lifelong learning benefits include improved economic welfare as well as positive effects on the physical and mentsl health and well-being of the individuaL their families. and the Collununity. Provision of awareness. raising inforniation dissemination or arts 2nd culture events for members of the commtmity as well as for external audiences. Developing an accurate and well- infornied understanding of the community enables positive relationship building with the local authorities and other community organisations Four age -specific residential youth camps for young pcople aged from 8 to 18 years and run by young adts aged 21-30 years. These camps have an overall 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 connect WAth others from different cultures and diverse backgrounds. to build lasting friendships and promote a positive attitude to voluntary service both within the Community and society at large. A sports weekend forthe whole community of all ages and backundS to participate invarious sports and activities including netball, football. and badrninton. Additional sessions were also held to promote healthy lifestyles, mindfulness and raising awareness of non-¢ommuAi¢able diseases and how to prevent them. Delivery of a series of arts Competitions and sports tournaments across the United Kingdo and Europe to identify talented individuals from within the Community who will then be further supported to represent the Community at a global tournatuent being plaDll¢d for 2025. The Trustees note that a large number of the adopted and fimded prOaMneS are now in a repeatable cycle with some tweaks year on year to improv¢ impact or deliverability. This helps give the charity an element of consistency in its programmatic activlty Future H2llS The Charity ha5, and will continue its support. of the existing rang¢ of prograo]mes to further its objectives. These include educational and sports programme& youth camps and initiatives to support disadvantaged members. In 2025, there will continue to be many events promoting the engagement of individuals in the arts and sports, thereby nuTtwing tslenL building self confidence in individuals and a stronger COMunIty. The Trustees continue to support diversitv and inclusion (D&1) initiatives and will consider any applications for funding whcrc D&I is a particular focus. Loo&ang ah¢4 the Trustees Thill also explore supporting the expansion of its existing range of programmes into selectcd arS of Continental Europe where they meet the objects
CFR IUK) REPORT OF THE TRITSTEES (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 The Cl)arity has noted that a number of the programmes being funded are feeding back tbat they may need support in the future to fid HuD)an Resources. which can then better leverage the volunteer resources that the cbarity bas benefited from. It is likely therefore that the coming year will see greater number of application5 to support HR costs incutred by existing programme& The Trustees are ateful for the ongoing donations from regular donor4 who have continued to support the dwity. The Trustees plan to continue fjmdraising activities during 2025 to build a strong financial base which can allow the support of further prow]mes and ¢v¢nts for the Community and ensure the charity remains resilient alld financially sustsinable. The TnteeS ar¢ cognisant in the wwth of the charity in t¢rDJ5 of the quantum of funds being wted or beimg utilized to deliver programmes. On this basis. fundraising activities Nvhich includes high impact cottllnunicalion to existing donors as well as proactive identification of new donors, will increase through 2025. Financial R¢vieiv A SUMM of the result of CFR (UK)'s activities during 2024 is given in the Staternent of Financial Activities on pag¢ 13. The comparative figures below relate to the year l January 2023 to 31 Decemb 2023. The income from donations and income generated from activities of CFR (UK) were sufficient to carry out the planned programmes and ¢v¢nts during the year. The total income of the charity amounted to £1,075.421 {2023: £466,140), which included income from donations of £953,755 (2023". £355.252) and income from charitable activities of £94,577 (2023: £110,888). Governance and AdmiDi5trative costs of £25,917 (2023: £25.526) consisted of audi¢ legal and professional fees and administrative expenses. These costs were approved by the Trustees. CFR (UK) does not incur any eMplOent costs as all of the charity's programmes and activities are delivered by voluntsers. The totsl funds at 31 December 2024 were £1,001,178 (2023: £564,256), all of wbich were ut]restrifftd funds. In the TrLths' opiniofy there are adequate assets available to fijlfil the obligations of CFR(UK) in 2025. The charty has no long-terni investments.
REPORT OF THE TRUSTEES (¢ontiDu¢d) FOR THE YEAR ENDED 31 DECEMBER 2024 Risk Management Principal risks in the key areas of CFR {UK)'s operations are reviewed and assessed by the TrSteeS on an ongoing basis. The Trustees ate satisfied that appropriate systen]s and contingency plans are in place to rnanage and mitigate risks that have been identified. The Trustees will continue to monitor these in order to manage tbe delivery of its core activities and priorities effectively. Reserves Policy The Thjstees have reviewed the reserves of the charity, having regard to the power in the Memordndum and Articles of Association of the charity to set aside funds &8 reserves for future expenditure. Th¢ charity held totsl reserves of £1,001,178 (2023: £564,256) all of which were unrestricted fund5. In the opinion of the Trustees, there are adequate assets available to fulfil the routine obligations of CFR(UK) in 2025. As referenced above, the clwity would like to support further programmes and events for the Comn]unity especially noting the WIng need for quality of ]ife and youth development programmes, therefore the Trustees plan to improve the reserves held by the cJ)arity rnoving forward into 2025. Structurfy Governance and Management Statement of Tnutees, Respopuibililies The TheeS a responsible for preparingthe Annual Report and flnancial statements for each financial year in aLKordance with the law applicable to charities in England & Wales. They have adopted the provisions of Accounting and Reporting by Charities: Ststement of R¢conunend¢d Practi¢¢, applicable to charities preparing their accounts in accordance with the United Kingdom Accounting Standards (specifically. the United Kingdom Generally Accepted Accounting Practice. including FRS 102: The Financial Reporting Standard applicable in the UK and Republic of treland). The Annual Report and fllwicial statements also Comply with the Cotnpanies Act 2006. Company law requires the directors, who are referred to here as th¢ Trustees, to Prepa fman¢ial statements for each fllwlcial year which give a true and fair view of the state of affairs of the ¢h8rity at the year end and of its incoming resources and resources expended during that year. In preparing those fULa1 stat¢ment4 the Trustees are required to.. select suitable accounting poli¢ie$ and then apply them consistently. make judgements and esÈxniat¢s that are reasonable and pruden¢ state whether applicable accounting standards and statements of re¢onunended practice have been fo]lowed subject to any departures disclos and explained in the financial statements" prepare the financial stst¢m¢nts onthe going concern basis unless it is inappropriate to presume that the charity will continue in business. The TTrtee5 aTe responsible for keeping proper accounting records. which disclose with reasonable accuracy at any time the fllLqn¢ial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
REPORT OF THE TRUSTEES (continued) FOR YEAR ENDED 31 DECEMBER2024 l£gal Stat and Governing document CFR (UK) is a cEiaritable company limited by guarantee. incorporated in England & Wales on 4 June 2007 and registered as a charity on 10 July 2007. The objects and powers of the company were estsblisbed in its Memorandum of Association and are governed by its Articles of Association. The Charity commenced operation on the date of IncoOration. The directors of the charitable company are its Trust¢¢s for the pury)oses of charity law. Org¢7ni5atioT Sin[re The Trustees are respoLsible for the general control and management of the charity, for setting the overall strate of the chartty. as well &s its policies and prioriti¢s. They are also responsible for r¢vi¢wins and authorising r¢qU foi grants and adoption of piogratnm¢5. Tr Trust¢K giv¢ th¢ir tim on a voluntary basis and receive no remuneration or other finanGial benefits. The Tn1¢¢$ meet as required to manage and guide the day-to-day running of CFR (UK). The Truste¢s are assisted by a number of professionals. many of whorn give of their time and expertis¢ on a voluntary Aliyyah-Begum Nasser, who is a Trustee of the Charity, was also a membeT of the Ismaili Council for the UK duting the year under review. The Council has 22 members in all. During the year, antS of £402,957 {2023: £1 58,243) were awarded to the Council for various programrnes. These grants were only made when the Trustees were s*isfied that they were in keeping with the charity's objectives. Appoinlment The Tnte¢S who held offi¢e during the fula] year and the Tnthes who hold office as at the dat¢ of this report are set out on page 3. The Trustees are appointed in accordance with the ndes set out in the Articles of Association. N¢w Trustees appointed to the charity undergo orientation and training on their legal obligations under clwity and con]pany law. They are also given traxning on the provisions of the Memorandum and Articles of Association, and ¢)n the Charity's strategy, decision-malang process and policies. Inleresls ofthe l>wtees None of the Trustses ha4 at any tIe during the financial year, any interests in CFR (UK) that required to be disclosed in this reporL Allditors The auditors, UHY Hacker Youn& are deemed to be reappointed under section 487 (2) of the Companies Act 2006.
CFR (UK) REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 Siaternent ofdisclosure to Auditor So far as the Trustees are aware: (a) (b) there is no relevant audit infornation of which the company's auditors are unaware. and they have tsken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The Trustees, report was signed and authorised on behalf of the Board of Trustees on ..... 2025 by: Aliyyab-Begum Nasser Trustee Feiza Jivraj Trustee
UHY UHY Haekeryoung LLP Chartered Ae¢•untants Quadrant House 4Thomas More Square London Elw IYW INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF CFR Opinion on fancIal statements We have audited the financial statements of CFR (UK) for the year ended 31 December 2024 which compris¢ the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial ststements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the Chitable company's affair5 as at 31 December 2024, and of its incoming resources and application of resources. including its income and expenditur< for the year th¢n ¢nded. have b¢en properly pPared in accordan¢¢ with United Kingdom Gcnerally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirem¢nts that are rel¢vant to our audit of the fuwicial statements in the UK. including the Financial Reporting Council's (FRC'S) Ethical Standar4 and we have fulfilled our other etlllcal responsibilities in accordance with these requirements. We believe that the audit evidence we hav¢ obtained is sutyicient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the fuwicial statement is appropriate. Based on the work we have perforn]ed, we have not identified any material uncertainties relating to events or condktions 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 months from when the fmancial statements are authorised for issue. Our responsibilities and the responsibilities of the tsustees with respect to going concern are described in the relevant sections of this report.
UHY UHY Hackeryoung LLP Chartered Accountsnts Quadrant House 4 Thomas More Square London Elw IYW INDEPENDENf AUDrroRS' REPORT TO THE TRUSTEES OF CFR Other infomation The other information comprises the inforniarion included in the atinual reporL including the Trustees, report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other infonnation. Our opinion on the fll]ancial statements does not Cover the other inforniation an except to the extent otherwise explicitly stated in our repo¢ we do not express any fornl of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other infonnation and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misststsd. If we identify such rnaterial inconsistencies or apparent material misstatements, we are required to deterniine whether there is a material misstatement in the fuwicial statements or a materiat misstatement of the other infornlation. If, based on the work we have perfornied, we conclude that there is a material misststement of this other information. we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our Opinio based on the work undertaken in the course of our audit: the inforniation given in the trustees, report for the financial year for which the financial statsments are prepared is consistent with the financial statements. and the trustees, report has been prepared in accordance with applicable legal requirements. Matters on Trvhich we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, report. We have nothingto report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting records and returns" or certain disclosures of trustees, remuneration specified by law are not made. or we have not received all the inforniation and explanations we require for our audit; or the trustees were not entitled to prepare the fmancial statements in accordance with the smaL companies, regime and take advantage of the small companies, exemption in preparing the trustees, report and from the requirement to prepare a strategic report. Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities set out on pages 6 7, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the TNstees deterniine is necessary to enable the preparation of financial statements that are free from material tnisstatemenl whether due to fraud or error. io.
UHY UHY Hackeryoung LLP Chart•red A¢Gountsnts Quadrant House 4 Thomas More Square London Elw IYW INDEPENDENT AUDrroRS' REPORT TO THE TRUSTEES OF CFR In preparing the financiaI statements, the Trustees are responsible for assessing the charity's ability to continue a going Conce disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for tbe audit of the fmancial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misststement when it exists. Misstatements ¢an arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to infiuence the economic decisions of users taken on the basis of these financial statements. The extnt to which our procedures are capable of detecting irregularities. including fraud, is detailed below: the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or reco115¢ non-compliance with applicable laws and regulations. . we identified the laws and regulations applicable to the charity through discussions with trustees and other managemen¢ and from our commercial knowledge and experience of the sector. and we focused on specific laws and regulations which we considered may have a direct material effect on the fllwicial statements or the operations of the charity, including the Companies Act 2006, anti- bribery, employment, environmental and health and safety legislation. We assessed the susceptibility of the charity's financial ststements to material misstaternenl including obtaining an understanding of how fraud might occur, by: ' making enquiries of management as to where they considered there was susceptibility to fraud. their l(nowledge of actual, suspected and alleged fraud" and ' considering the internal controls in place to mitigate risks of fraud and nonrfompliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: ' perfonned anal>tical procedures to identify any unusual or unexpected relationships. ' tested journal entries to identify unusual transactions. . investigated the rdtionale behind sI1f1cant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulation& we designed procedures which included, but were not limited to: ' agreeing financial Statement disclosures to underlying supporting documentation" ' reading the minutes of meetings of those charged WAth governance. and ' enquiring of management as to actual and potential litigation and claims. 11.
UHY UHY Ha¢kerYoung LLP Chartered Aecountants Quadrant House 4 Thomas More Square London Elw IYW ]NDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF CFR There are inherent limitations in the audit procedures described above and the fither removed non- compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misststement due to fraud is higher than the risk of not detecting one resulting from eor, as fraud may involve deliberate concealment by. for eLqrnple, forgery or intentional misrepresentations. or throug collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: h :/lwww.frc.or .uk/auditorsres nsibilities. This description fonns part of our auditor's report. Use of our report This report is made solely to the Charitsble company's members. as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stste to the company's members those matters we are required to state to them in an auditor's report and for no other pUoSe. To the fullest extent pern]itted by law, we do not accept or &8sume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit worK for this repo¢ or for the opinions we have forn]ed. Harriet Hodgson-Grove (Senior Stathtory Auditor) For and behalf of UHY Hacker Young Chartered Accountants Statutory Auditor Quadrant HOse 4 Thomas More Square London Elw IYW 25 June . 2025 12.
CFR (UK) STATEMENT OF F]NAF4CIAL AcfiviTIES ONCLuDG OF INCOME AND EXPENDrruRE ACCOUN FOR THE YEAR ENDED 31 DECEMBER2024 2024 Ullre5tricted funds 2024 Totsl Funds 2023 Total funds Incoming Resour¢ Notes Ifteoming ruourcesfrom generated fvnds.. Voluntary income- donations 953.755 953,755 355.252 Other income -Interest Received 27,089 27,089 980.844 980.844 355.252 Incoming resourcesfrom cluwitable actsvtrles.- Tncome from various prOme artivities in furtberdnce of the objects of tbe charity 94,577 94,577 110.888 Total ineoming resollrees 1,075.421 1.075.421 466,140 Resources Expended Charilablt aetivilies.. Costs of various programme activities in furtherance of the obj¢Gts of the charity Govern¢ and administrative ¢05ts {612.582) (25,917) (612,582) (25,917) (443.964) (25.526) (638,499) (638,499) (469,490) Tolal r¢sour¢es expended (638,499) (638,499) (469.490) IY¢¢ (deficit)I surplus for the year 4i6,922 436,922 (3,350) Totsl Fllnds brought forward 564256 5&1256 567,606 Total Funds cgrried forward 1.001.178 1.001.178 564256 All of the above results are derived from continuing activities. All gains and losses reco8nised in the Ye are included in the above. The notes on pages 16 to 21 forn] part of these flnancial statements. 13.
BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Current assets Debtors Cash at bank and in hand 10 33,964 1.135,127 8.159 574.479 1.169,091 582,638 Creditor5: amounts falling due within One year 11 (167,913) {18,382) Net current assets 1,001,178 564.256 Net assets 1.001.178 564.256 Funds Unrestricted funds 14 1,001,178 564.256 Total unrestricted funds 1,001,178 564,256 The fmancial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. The financial statements on pages 13 to 21 were approved by the Board of Trustees on 2025 and were signed on its behalf by: yyah-Begum Nasser Trustee Feiza Ttee ivraj Company Registration number: 06267939 14.
CFR (UK) CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEllfBER 2024 Iyotes 2024 2023 Cash llows from operating activities Net ca%h from operating activities 13 560,648 7,125 Change An cash and cash eqllivalents An the year 560,648 7.125 Cash and cash equivalents at th¢ beginning of the year 574,479 S67,354 Cash and eash equivalents at the end of the year 1.135.127 574.479 The notes on pages 15 to 20 forni part of these financial statements. 15.
CFR (UK) NOTES TO THE FINANCIAL sTATEMEs FOR THE YEAR ENDED 31 DEclBER2o24 Statstory information CFR (UK) is a company limited by guaranteq domiciled in England and Wales, registration nllber 06267939. The reered office is Quadrant House Floor 6, 4 Thomas More Square, London Elw IYW. Accounting policies The principal COunting policies adopted, judgements and key sources of estintion unce]nty in the preparation of the financial statements are as follows: Basis of prep2r2tion These accounts have been prepared in accordan¢¢ with FRS 102 'Th¢ Finan¢ial Reporting Standard applicable inthe UK and Republic of Ireland ('FRS 102,). 'Accounttng and Reporting by Charities. the Statement of Recommended Practice for Charities applying FRS 102. the Conipanies Act 2(K)6 and UK Generally Accepted AcntIng Practice. CFR (UK) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recogwsed at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. The a¢¢ounts are prepared in sterling, which is the fLUJCtional curnncy of the clwity. Monetary amounts in these fllkllcial statements are rounded to the nearest £. Going concern As part of the going concern revtew. the cash flows of the charity are being carefully monitored. The Trustees are confident the charity ha5 adequate reserves and that there are no material uncertainties about the charity's ability to continue as a going concern for the foreseeable future. 2J Funds General funds are unrestricted funds available for use at the diretion of the trustees in furtberance of the general objectives of the charity and whAch have not been designated for other pwposes. There are no designated funds and no restricted funds. Forelgn currencles Transa¢tions in forei currencies are recorded at the rdte ruling at the date of the transaction. Monetary assets and liabilities are retranslated atthe rate ofexchange rulingat the balance sheet dats or at a contracted rate. rfapplicable. Exchange gains or losses are included inthe Statement of Financial Activities. 16.
CFR (UK) NOTES TO THE FINANCIAL sTATEmEs [CoINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 Incoming resources Voluntary incom4 comprising donations, provides core fAmding and is of general nature. This is recognised where there is entitlemenL certainty of receipt and the amount can be measured with sufficient reliability. VAT is accounted for on the standard r&ed activities. All such in¢ome in the fuwi¢ial statements is net of VAT. Inv¢stm¢nt income is recognised on a receivable basis. The value of services provided by volunteers is not incorporated into these financial statements. Further details of the contrAbutions made by volunteers can be found in the Tn]stees' Report. Resources expended Expenditure is recognised on an accruals b&sis as liability is incurred. Charitable income and expenditure are allocated to the respective activities and any shortfall is funded from unrestricd funds. Prograllllne costs Comprise those costs incurred by the charity in the delivery of its activitie including both costs that can be allocated direcdy to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and Statutory requirements of the charity. Irrecoverable VAT is charged against the category of resources expended for which it was incurred. Grants awarded are charged in the year when fornially awarded by the Thistees and conllnunicated to the reeipienl irrespective of the period covered by the donatio as they are regarded by the Trustees as financial obligations. Financial instruments Th¢ ¢hatity only has basic financial assets and financial liabilities of a kind that qualify as basi financial instruments. Basic financial instnllfAents are initially reColsed at transaction value and subsequently measured at their settlement value. Critical accounting estimates and judgements In th¢ appliG8tion of the charity'5 accounting policies, the trustees required to make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readiIy apparent from other sources. Th¢ estimates and associated assumptions are b&8ed on historical experience and other factors that are Gonsidered to be relevanL Actual re5ts may differ from th¢se ¢3timat¢s. The estimates and underlying &ssumptions Sre reviewed on an ongoing b&8is. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects onIy that peTioI or in the period of the revision and ftrture periods where the revision affects both cutrent and future plOds. The trustees do not consider there to be any estimates or assumptions which have a significant risk of causing a marial adjustment to the carrying amount of the a%sets and liabilities in the fncIal ststements. 17.
CFR (UK) NOTES TO THE FINANCIAL STATEMEIYTS {CONTllYUED) FOR THE YEAR EIYDED 31 DECEMBER 2024 EmoIllmeDts to the Trustees No emoluments were paid to the Trustees. The TThteeS did not claim, nor receive, reimbursement of expaeS incurred by them in the COUTse of their duties. Employee infornvation There were no employees (2023: nil) and there are no costs relat to this. Voluntary income Unrestricted Unre$tri¢ted fwids funds 2024 2023 Donations and Gift Aid 953,755 355,252 Programme activities The costs of various prowdmme activities of the charity can be summarised in the following thematic areas: 31 December 2024 Community developme)yt Ratsing Awireness Total 2024 Tot41 2023 Note (542,172) (70.410) (612,582) (443,964) Governance and adD]inistrative costs (22938) (1979) (25,917) (25.526) Totsl ¢0gts allocated (565,110) (73,389) (638,499) (469,490) 31 December 2023 Community development Raising awareness Total 2023 Total 2022 Note Direct costs Governance and administrative costs 7a (429,352) (14,612) (443964) (280,752) (24.686) (840) (25,526} (19,843) Totsl costs ollocated (454,038) (15,452) (469,490) (300,595) 18.
CFR (UK) NOTES TO THE FINANCIAL STATEMENfs (CoINUED) FOR ThE YEAR ENDED 31 DECEMBER 2024 7.a Anatysis of direct costs Nots 2024 2023 402,957 152,97) 56,652 158,243 156,770 128,951 Venue cost Programme support costs Total direct costs 612.582 443,964 7.b Analysis of governance and administration costs 2024 2023 Professional and legal costs Auditors, remuneration 1,165 11,816 1,147 12,000 Totsl governance costs 12,981 13,147 2024 2023 Total administration costs 12,936 12,379 Direct costs have been incurred in firthering the obje¢ts of th¢ charity inthe following thematic are&s: ( l) Community development and (2) Raising awareness and are allocated on aper¢entage basis of the total direct costs associated with the activity. Grants awarded 2024 2023 Regular grants awarded to institutio 402,957 158,243 Totsl aivarded to institutions 402,957 158,243 Net incoming resources The net incoming roUrceS are stated after charwg the following costs: 2024 2023 Auditots, remuneration 11,816 12,000 19.
CFR (UK) NOTES TO THE FINAIYCIAL STATEMENfs (cOINUED} FOR THE YEAR ENDED 31 DECEMBER 2024 10. Debtors 2024 2023 Gift Aid recoverable Prepayments VAT refidable 4,180 29.784 4.509 3,650 33,964 8,159 11. Creditors 2024 2023 Grants payable Accruals VAT payable 141,373 26,395 145 6,382 12,OCIO 167,913 18,382 Taxation The company is a registered charity and is not liable to corporation tax on its ¢haTitable activities. Gift aid donations are reclaimed by the company. 13. Reconciliation of net movement in resources to net Casb inflow from operating activities 2024 2023 Net surplusl(deficit) for year (tncreasey decrease in debtors Increase in creditors 436,922 (25,805) 149.531 (3,350) 2.663 7,812 Net cash from operating activities 560,648 7,125 20.
CFR (UK) I OTES TO THE FINAI¥4CIAL STATEMEIYTS (CONTllYUED) FOR THE YEAR EIYDED 31 DECEIVLBER 2024 14. Reconciliation of unrestricted funds 2024 2023 Balance as at l January Nct movement in resources for the year 564,256 436,922 567,606 (3,350) Balanc¢ as at 31 December 1,001,178 564.256 Represented by: 2024 2023 Current assets Current liabilities 1.169.091 (167,913) 582.638 (18,382) 1,001,178 564,256 15. Related party transactions During the reporting year, Aliyyah-Begum Nasser, Trustee of the Chlty. was also a member of the tsmaili Council for the UK ("the Council,). The Council h&s 22 members in total. During the year, ants of £402,957 (2023: £158,243) were awarded to the Council for prograllllnes where the Trustees have been sati3fiedthat these were in keeping withth¢ ChIty's objectives. 21.