## ANNUAL **REPORT** WWW.GOREEBFUND.COM **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 GOREEB & YATEEM TRUST FUND** **CHARITY REG:1122271 TEL: 0207 247 8245 EMAIL: INFO@GOREEBFUND.COM** **259 (2ND FLOOD) WHITECHAPL ROAD LONDON, E1 1DB** **GOREEB & YATEEM TRUST FUND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** **GOREEB & YATEEM TRUST FUND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** CHARITY REG: 1122271 ## **CONTENTS** ## **PAGE NUMBERS** 1. Trustees' Report 2. Our Projects 2. Auditor's Report 3. Statement of Financial **A** ctivity 4. Statement of Financial **P** osition 3 to 5 6 to 21 22 to 25 26 27 5. Statement of Cash flow **s** 28 6. Notes to the Financial S **t** atements 29 to 33 **Page** 21 A N N U A L R E P O R T 2 0 2 1 **GOREEB & YATEEM TRUST FUND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## **TRUSTEES REPORT** ## Who we are We are a charity that primarily **o** perates to improve the quality of life fororphan **s** and the needy in Bangladesh. Our projects are fo **c** ussed on health and sanitisation, education, empowerment of disabled and other disadvantag **e** d individuals, as well as ensuring nutrition. We **a** im to make a difference by building communi **t** y spaces for individuals who would otherwise li **v** e in a permanent state of destitution. ## Financial review A second successive year of sur **p** lus, £3,323 (2020: £83,032) followed, as we con **t** inued a strong level of engagement with our donor **b** ase. We were able to spend more on project delivery in the year, following some difficulties in th **e** lockdown period. The balance Sheet has reserves of £179,029 of which £155,226 is for delivery o **f** projects that we are committed to. ## Reserves policy Reserves here are used to descr **i** be the part of the charity’s funds that are freely available for its operating purposes, not subject to commitments, planned expenditure and spe **n** ding limits. They exclude restricted funds, which **a** re subject to conditions of use, as specified by **d** onors. We aim to maintain reserves that would provide at least 3 months operational continuity i **n** the event of any instance in which the charity w **o** uld have to temporarily halt its activities. We ar **e** currently operating below our minimum reserves le **v** el; however, we have commenced appropriate **b** udgeting in 2022 to build up our unrestricted reserv **e** s, and ensure there is no further overspending **o** n restricted projects. The Trustees believe the financi **a** l statements should be prepared on the Going **C** oncern basis, and that the charity is slowly work t **o** wards operating at its desired Reserves level. **Page** 32 A N N U A L R E P O R T 2 0 2 1 **GOREEB & YATEEM TRUST FUND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## **TRUSTEES REPORT** A N N U A L R E P O R T 2 0 2 1 Page 4Page 3 **GOREEB & YATEEM TRUST FUND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## Statement on Trustees’ Respon **s** ibilities The trustees are responsible **f** or preparing the Trustees’ Annual Report a **n** d the financial statements in accordance wit **h** applicable law and regulatory requirement **s** applicable to registered charities in Englan **d** & Wales.The Trustees have elected to pre **p** are the financial statements in accordance wit **h** United Kingdom Generally Accepted Acco **u** nting Practice (United Kingdom Accounting **S** tandards) and applicable law, and in accor **d** ance with Accounting and Reporting by Charities: Statement of Recommended Pra **c** tice (Charities SORP (FRS102)). Under charity law the Truste **e** s must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Ch **a** rity, its income and application of resources **o** f the Charity for that period. In preparing th **e** se financial statements, the Trustees are required to: - select suitable accountin **g** policies and then apply them consistently; - observe the methods and principles in the Charities SORP 2015 (FRS 102); - make judgements and es **t** imates that are reasonable and prudent; - state whether applicable **U** K Accounting Standards have been followe **d** , subject to any material departures disclosed and explained in the financial statements; - prepare the financial stat **e** ments on the going concern basis unless it is inappropriate to presume that The Trustees are responsible for keeping adequate accounting records th **a** t are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of t **h** e Charity to ensure that the financial state **m** ents comply with the Charities Act 2011. They **a** re also responsible for safeguarding the as **s** ets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: - there is no relevant audit **i** nformation of which the charitable company’s auditor is unaware; and - the trustees have taken a **l** l steps that they ought to have taken to mak **e** themselves aware of any relevant au **d** it information and to establish that the audit **o** r is aware of that information. Sheikh Saleh Ahmed Hamidi ## Trustee 26[th] October 2022 **Page** 54 A N N U A L R E P O R T 2 0 2 1 Housing is an essential need and priority. for everyone. Providing a permanent sheEter for a family is life changing. Housing project for poor and needy people is one of our main flagship projects and in 2021 we have built over 100 houses. So far from 2007 till now we have built over 550 houses. 2021 110 Houses built SO FAR Over 550 Houses constructed 2022 PLAN To construct 200 Houses 11 ll is A118h Who rnade YOUT habitstions homes of rest and quiet for you. Source.. Sura Nahl. Veise 80 'OR Tr.Tr:K &. I',ITEEIJ ANNUAL REPOR T 2021 Page 6 .5 with a ￿lId roof. [￿aning Icnger ha￿ tofear ihe vveatner and can sleep In peace May Allah ',oward ÈhÈdonor> ol r YTF2nd b￿$ thOm,￿,1￿h moiÈ puaco and happinÈsg. ANNUAL REPORT2021 Page 7 The construction of a Masjld comes wlth enormous reward In Islam as Masjids arethe heart and focal point of the Muslim communty where they prayto their Lord, supplicate to him and meettheir fellow Muslims. In 2021 we have built 23 Masjlds and so far we have constructed 50 Masjids. Insha'Allah we want to construct more Masjids wllh yQUf help and suppoit 2021 23 Masjids constructed SO FAR 50 Masjids constructed 2022 PLAN To construct 30 Masjids Il The rnosque5 of A113h are only to be mBiDtained by Ih05e who believe in ￿[ah the Last Day and establish prayer and give zakah and do not feareKcepi Allah. for A Is expected thatthose will be of the lrightlyl gyided.ii Soutce.. Surah 9".18 ANNUAL REPORT 2021 Page 8 vioasa tommunitytould DotpÉr'.ormaui prayÈrÈ1Th2 bullt Mag'id IVÈluSt aL%outmafia9Éd latonatluCtÈ hoLSÈ'&.Ilh ÈiruYYS, gtmÉ tlay, and bambw Ilvias21**y**
**TATEMENT OF CAS**|**HF**|**LOW**|**S**|||| |---|---|---|---|---|---|---| ||||**2021**|||**2020**| ||£||£|£||£| |**Cash Outflow from Operating**
**Activities**||||||| |Operating Profit|3,323|||83,032||| |Depreciation||228|||228|| |(Gain)/Loss on fIxed asset dis**p**
osal||||||| |Operating Profit Before Workin**g**
Capital Chgs|3,551|||83,260||| |(Increase)/Decrease in Debtors|(23,624)|||(36,916)||| |Increase/(Decrease) in Credito**r**
s|3,293||||301|| |Cash from Operatio**n**
s|(16,780)|||46,645||| |Net Cash Generated from Ope**r**
ations|||(16,780)|||46,645| |**Cash Outflow from Investme**
**nt Activities**||||||| |Purchase of Tangible Fixed As**s**
ets||-|||-|| |Net Cash inflow/out**f**
low from investment Activities|||-|||-| |**Cash Outflow from Financing**
**Activities**||||||| |Increase/(Decrease) of Loans||-|-||-|-| |Net Increase/(decrease) in Cas
h and Cash Equivalents|||(16,780)|||46,645| |Opening Cash and Cash Equiv**a**
lents|||140,645|||94,000| |Closing Cash and Cash Equiva
lents|||123,865|||140,645| |**Reconciliation:**||||||| |Cash at bank and in hand|||123,865|||140,645| ||||123,865|||140,645| No separate statement of changes in net debt has been prepared as there is no diff **e** rence between the movements in cash and cash **e** quivalents and movement in net cash (debt). A N N U A L R E P O R T 2 0 2 1 **Page** 2811 **GOREEB & YATEEM TRUST FUND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **1 Accounting Policies** ## **1.1 Basis of preparation of accounts:** The financial statements have **b** een prepared in accordance with Accounting and R **e** porting by Charities: Statement of Recommended **P** ractice applicable to charities preparing their accoun **t** s in accordance with the Financial Reporting Stand **a** rd applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP 2015 (FRS 102), and the Charities Act 2011. The charity meets the definitio **n** of a public benefit entity under FRS 102. Items are **r** ecognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The functional currency for presentation is st **e** rling, with balances rounded to the nearest pound. ## **1.2 Income:** Income is recognised in the p **e** riod when the charity is entitled to it, the income can be be measured reliably, and its probably that t **h** e income will be received. Donations are recognised whe **n** the charity has confirmation of the amount and settlement date. Income with peformance related conditions is deferred until the conditions are fully **m** et, or the fulfilment of those conditions is wholly **w** ithin the control of the charity, and probably to be fulfilled in the period. ## **1.3 Expenditure categories:** Expenditure is included in the **s** tatement of financial activities when incurred, and in **c** ludes attributable VAT which cannot be recovere **d** . It is categorised as below: ## **Fundraising expenditure:** These relate to the costs of re **s** ources in running events for public collection, as wel **l** as processing fees on donation platforms. ## **Charitable activity costs:** These expenditures are for deliverance of objectives set out in the Trustees' report, **a** nd relate mainly to direct charitable work cond **u** cted, in addition to direct costs incurred in facilitating those projects. ## **Support costs:** Support costs relate to the co **s** ts of governance, IT, finance and other activities invol **v** ed in managing the organisation. ## **1.4 Allocation of costs** Costs are allocated between r **e** stricted and unrestricted funds in according with the **p** urpose that the expenditure represents. Wher **e** expenditure is directly incurred for projected delivery where those projects are funded by restricted incom **e** , the expenditure will also be categorised as restrict **e** d. At present the charity does not allocate any **s** upport costs to restricted funds. ## **1.5 Tangible fixed assets and depreciation:** Tangible fixed assets are stat **e** d at cost less depreciation. Depreciation is provided **a** t the annual rates in order to write off each class of assets over its estimated useful life. FF & Office Equipment 20% on cost ## **1.6 Funds:** Unrestricted funds are availabl **e** for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds are funds whi **c** h are to be used in accordance with specific restrictions imposed by donors or which have been rai **s** ed by the charity for particular purposes. The cost of raising and administering such funds are **c** harged against the specific fund. Further information **o** n projects within A N N U A L R E P O R T 2 0 2 1 **Page** 2912 **GOREEB & YATEEM TRUST FUND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **1.7 Going concern:** At the time of approving the accounts, the trustees have assessed that the charity **h** as adequate resources to continue in opera **t** ional existence for at least another 12 months, thus **a** dopting the going concern basis of accounts pre **s** entation. The Trustees do not consider COVID-19 to have had a significant impact on donations, and can **d** emonstrate a resilient support basis throughout the **p** andemic, and after the year-end. ## **Income Summary** |**2**
**3**|**Charitable Activities Income**
General Donations
Ramadan & Foodpack Project
Qurbani & Aqiqah Project
Winter Blanket Project
Tubewell Project
Healthcare & Emergency Proj**e**
Wheel Chair Project
Housing Project
Masjid Project
Education Project
Family Empowerment Project
Gift Aid
**Total Income**
**Expenses Summary**
**Fundraising Costs**
TV advertising and appeals
Digital Marketing
Mailing To Donors
Printing
Social Media Campaigns
Website
Unrestricted
Restricted
2021
£
£
£
112,962
112,962
50,916
50,916
60,349
60,349
9,332
9,332
164,555
164,555
ct
50,398
50,398
14,557
14,557
179,074
179,074
228,690
228,690
155,429
155,429
35,235
35,235
60,513
60,513
173,475
948,535
1,122,010
Unrestricted
Restricted
2021
£
£
£
13,279
72,606
85,885
88
480
568
1,648
9009
10,657
1,042
5697
6,739
638
3491
4,129
378
2067
2,445
17,073
93,350
110,423|2020
£
77,507
79,487
56,582
5,222
139,330
50,991
25,861
148,474
166,712
153,840
20,103
39,800| |---|---|---| |||963,909
2020
£
90,535
596
7,869
3,216
7,528
1,400| |||111,144| A N N U A L R E P O R T 2 0 2 1 **Page** 3013 **GOREEB & YATEEM TRUST FUND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## **NOTES TO THE FINANCIAL STATEMENTS** |**4**
**Charitable Activities Cost**
Direct project implementation
**5**
**Administrative Cost**
**a) Support Costs**
Rent, Rates and insurance
Staff costs
Telephone & Internet
Subscriptions
Consultancy
Depreciation
General office running costs
Donation processing fees
**b) Governance Costs**
Trustee travel costs
Audit & Accountancy Fees
**Total Expenses**
**6**
**Tangible Fixed Assets:**
**COST**
At 1 January 2021
**Additions**
At 31 December 2021
**DEPRECIATION**
At 1 January 2021
**Charge for the year**
At 31 December 2020
**NET BOOK VALUE**
At 31 December 2021
At 31 December 2020|Unrestricted
Restricted
2021
£
£
£
8,567
893,356
901,923
8,567
893,356
901,923
Unrestricted
Restricted
2021
£
£
£
1,473
8,052
9,525
11,015
60,228
71,243
176
964
1,140
115
628
743
866
4,734
5,600
228
228
600
3,280
3,880
1,273
6,959
8,232
15,746
84,845
100,591
950
950
4,800
4,800
5,750
-
5,750
21,496
84,845
106,341
**47,136**
**1,071,551**
**1,118,687**
Fixtures
Computer
and Fittings equipment
Totals
**£**
**£**
**£**
2,367
1,013
3,380
2,367
1,013
3,380
2,139
1,013
3,152
228
228
2,367
1,013
3,380
0
0
0
228
0
228
2020
£
690,671
690,671
2020
£
8,779
50,306
947
2,316
5,400
228
1,674
7,612
77,262
1,800
1,800
79,062
**880,876**| |---|---| A N N U A L R E P O R T 2 0 2 1 **Page** 3114 **GOREEB & YATEEM TRUST FUND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## **NOTES TO THE FINANCIAL STATEMENTS** |**7**
**Debtors: Amount Falling Due**
Gift Aid
**8**
**Creditors: Amount Falling Du**
Wages payable
Taxation and social security
Accruals
**9**
**Restricted funds movement:**
Ramadan & Foodpack Project**s**
Qurbani & Aqiqah Project
Winter Blanket Project
Tubewell Project
Healthcare & Emergency Proj**e**
Wheel Chair Project
Housing Project
Masjid Project
Education Project
Family Empowerment Project
Total
**10 Movement in Funds**
As at 1 January 2021
Current year
Transfer between funds
As at 31 December 2021
**< One Year**
2021
£
60,540
60,540
**e < One Year**
2021
£
293
283
4,800
5,376
Opening
Restricted
Restricted
Balance
Income
Expenses
£
£
£
32,591
50,916
52,783
60,349
66,894
9,332
9,600
23,181
164,555
176,672
ct
50,398
35,241
23,101
14,557
16,647
69,376
179,074
171,180
228,690
279,201
155,429
218,229
35,235
45,104
148,249
948,535
1,071,551
Unrestricted Restricted
Funds
Funds
£
£
27,457
148,249
126,339
(123,016)
(129,993)
129,993
23,803
155,226
2020
£
36,916
36,916
2020
£
283
1,800
2,083
Fund
Closing
Transfer
Balance
£
£
30,724
6,545
-
268
-
11,064
15,157
21,011
77,270
50,511
-
62,800
-
9,869
-
129,993
155,226
Total
£
175,706
3,323
179,029|**7**
**Debtors: Amount Falling Due**
Gift Aid
**8**
**Creditors: Amount Falling Du**
Wages payable
Taxation and social security
Accruals
**9**
**Restricted funds movement:**
Ramadan & Foodpack Project**s**
Qurbani & Aqiqah Project
Winter Blanket Project
Tubewell Project
Healthcare & Emergency Proj**e**
Wheel Chair Project
Housing Project
Masjid Project
Education Project
Family Empowerment Project
Total
**10 Movement in Funds**
As at 1 January 2021
Current year
Transfer between funds
As at 31 December 2021
**< One Year**
2021
£
60,540
60,540
**e < One Year**
2021
£
293
283
4,800
5,376
Opening
Restricted
Restricted
Balance
Income
Expenses
£
£
£
32,591
50,916
52,783
60,349
66,894
9,332
9,600
23,181
164,555
176,672
ct
50,398
35,241
23,101
14,557
16,647
69,376
179,074
171,180
228,690
279,201
155,429
218,229
35,235
45,104
148,249
948,535
1,071,551
Unrestricted Restricted
Funds
Funds
£
£
27,457
148,249
126,339
(123,016)
(129,993)
129,993
23,803
155,226
2020
£
36,916
36,916
2020
£
283
1,800
2,083
Fund
Closing
Transfer
Balance
£
£
30,724
6,545
-
268
-
11,064
15,157
21,011
77,270
50,511
-
62,800
-
9,869
-
129,993
155,226
Total
£
175,706
3,323
179,029|2021
£
60,540
60,540
2021
£
293
283
4,800
5,376
Restricted
Expenses
£
52,783
66,894
9,600
176,672
35,241
16,647
171,180
279,201
218,229
45,104
2020
£
36,916
36,916
2020
£
283
1,800
2,083
Fund
Closing
Transfer
Balance
£
£
30,724
6,545
-
268
-
11,064
15,157
21,011
77,270
50,511
-
62,800
-
9,869
-| |---|---|---| ||148,249
948,535|1,071,551
129,993
155,226| ||Unrestricted Restricted
Funds
Funds
£
£
27,457
148,249
126,339
(123,016)
(129,993)
129,993
23,803
155,226
Total
£
175,706
3,323
179,029|| A N N U A L R E P O R T 2 0 2 1 **Page** 3215 **GOREEB & YATEEM TRUST FUND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **11 Staff costs** |Gross wages
Employer NIC|**31.12.21**
**31.12.20**
**£**
**£**
39,677
23,604
0
0| |---|---| ||39,677
23,604| No staff were renumerated in e **x** cess of £60,000. |Average number of employe
es|**31.12.21**
**31.12.20**| |---|---| ||2
1| ## **12 Taxation** The entity is a registered chari **t** y and does not undertake non-charitable activities, h **e** nce entitling it to tax exemptions from HMRC. ## **13 Post Balance Sheet Events** There were no significant post balance sheet events. ## **14 Transaction with Trustees** There were no reimbursement **s** made to Trustees during the year (2020: nil) ## **15 Contingent Liabilities** The charity had no contingent **l** iabilities as at 31 May 2021 nor at 31 May 2020. ## **16 Related Party Transactions** There were no related party transactions during the year. ## **17 Gifts In Kind And Volunteers** During the year the charity be **n** efited from unpaid work performed by volunteers. ## **18 Liability of members** The charity is constituted as a charitable incorporated organisation. In the event of t **h** e charity being wound up members have no li **a** bility to contribute to its assets and no personal responsibility for settling its debts and liabilities. A N N U A L R E P O R T 2 0 2 1 **Page** 3316