## WWW.GOREEBFUND.COM ANNUAL REPORT 2023 F I N A N C I A L S T A T E M E N T S F O R T H E Y E A R E N D E D 3 1 D E C E M B E R 2 0 2 3 TEL: 0207 247 8245 EMAIL: INFO@GOREEBFUND.COM GOREEB & YATEEM TRUST FUND 259 (2ND FLOOR) WHITECHAPEL ROAD LONDON E1 1DB GO **R** EEB & YATEEM TRUST FUND FI **N** ANCIAL STATEMENTS FOR THE **Y** EAR ENDED 31 DECEMBER 2023 **GOREEB & YATEEM TRUST FUND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 CHARITY REG: 1122271** ## **CONTENTS** ## **PAGE NUMBERS** 1. Trustees' Report 3 to 5 2. Our Projects 6 to 21 3. Independent Examiner **R** eport 22 4. Statement of Financial **A** ctivity 23 5. Statement of Financial **P** osition 24 6. Statement of Cash Flow **s** 25 7. Notes to the Financial S **t** atements 26 to 30 Page: 2 GOREEB & Y **A** TEEM TRUST FUND | ANNUAL REPORT 202 **3** GO **R** EEB & YATEEM TRUST FUND FI **N** ANCIAL STATEMENTS FOR THE **Y** EAR ENDED 31 DECEMBER 2023 ## **TRUSTEES REPORTTRUSTEES REPORT** ## Who we are We are a charity that primarily **o** perates to improve the quality of life for orpha **n** s and the needy in Bangladesh. Our projects are fo **c** used on health and sanitisation, education, em **p** owerment 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 (kindly see t **h** e annual report for more details). ## Financial review As we continued a strong level **o** f engagement with our donor base. We were a **b** le to spend around £644kk on delivering essential life saving projects (kindly see the annual report **f** or more details). The balance sheet has reserves **o** f £143k of which £85k is for delivery of project **s** 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. The trustees believe the financi **a** l statements should be prepared on the going c **o** ncern basis, and that the charity is slowly work t **o** wards operating at its desired reserves level. Page: 3 GOREEB & Y **A** TEEM TRUST FUND | ANNUAL REPORT 202 **3** GO **R** EEB & YATEEM TRUST FUND FI **N** ANCIAL STATEMENTS FOR THE **Y** EAR ENDED 31 DECEMBER 2023 ## **TRUSTEES REPORTTRUSTEES REPORT** Page: 4 GOREEB & Y **A** TEEM TRUST FUND | ANNUAL REPORT 202 **3** GO **R** EEB & YATEEM TRUST FUND FI **N** ANCIAL STATEMENTS FOR THE **Y** EAR ENDED 31 DECEMBER 2023 ## **STATEMESTATEMNT ON TRUSTEES’ RESPONSIBILITIEENT ON TRUSTE’S RESPONSBILITIES S** **----- Start of picture text -----**
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The trustees are responsible for preparing the Trustees’ Annual Report and the **f** inancial statements in accordance with applicable la **w** and regulatory requirements applicable to re **g** istered charities in England & Wales. The Trustees **h** ave elected to prepare the financial statements in accordance with United Kingdom Generally Acce **p** ted Accounting Practice (United Kingdom Acco **u** nting Standards) and applicable law, and in accordance with Accounting and Reporting by Chariti **e** s: Statement of Recommended Practice (Chariti **e** s SORP) FRS102. Under charity law the Trustees **m** ust not approve the financial statements unles **s** they are satisfied that they give a true and fair vie **w** of the state of affairs of the Charity, its incom **e** and application of resources of the Charity for that period. In preparing these financial statements, the Trustees are required to: - Select suitable accounting p **o** licies and then apply them consistently; - Observe the methods and p **r** inciples in the Charities SORP 2015 (FRS 102); - Make judgements and esti **m** ates that are reasonable and prudent; - State whether applicable U **K** Accounting Standards have been followed, sub **j** ect to any material - Departures disclosed and e **x** plained in the financial statements; - Prepare the financial state **m** ents on the going concern basis unless it is inap **p** ropriate to presume that The Trustees are responsible fo **r** keeping adequate accounting records that are **s** ufficient to show and explain the Charity’s transa **c** tions and disclose with reasonable accuracy at **a** ny time the financial position of the Charity to ensur **e** that the financial statements comply with the **C** harities Act 2011. They are also responsible for sa **f** eguarding the assets of the Charity and hence f **o** r taking reasonable steps for the prevention and de **t** ection of fraud and other irregularities. In so far as the Trustees are aw **a** re: - There is no relevant audit information of which the charitable company’s au **d** itor is unaware; and - The trustees have taken all **s** teps that they ought to have taken to make the **m** selves aware of any relevant audit information and to establish that the auditor is aware of **t** hat information. Sheikh Saleh Ahmed Hamidi Trustee 7[th] Oct 2024 Page: 5 GOREEB & Y **A** TEEM TRUST FUND | ANNUAL REPORT 202 **3** **----- Start of picture text -----**
GO R EEB & YATEEM TRUST FUND
FI N ANCIAL STATEMENTS FOR THE
Y EAR ENDED 31 DECEMBER 2023
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Page: 21 GOREEB & YAT **E** EM TRUST FUND | ANNUAL REPORT 2023 GO **R** EEB & YATEEM TRUST FUND FI **N** ANCIAL STATEMENTS FOR THE **Y** EAR ENDED 31 DECEMBER 2023 ## **Independent Examiner’s Repost to the Trustees of Goreeb & Yateem Trust Fund** I report to the Charity trustees on my ex **a** mination of the accounts of the charity for the **y** ear ended 31[st] December 2023. ## **Responsibilities and basis of report** The charity’s trustees are responsible fo **r** the preparation of the accounts in accordance **w** ith the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have follo **w** ed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** The charity’s gross income exceeds £25 **0** ,000, which requires an examiner to be appoint **e** d from a listed body.I confirm that I am qualified to undertake the examination because I am a member of the ACCA, which is one of the listed bodies, in section 124 of the Chari **t** ies Act 2011. I have completed my examination. I con **f** irm that no material matters have come to my a **t** tention in connection with the examination giving me cause to beli **e** ve that in any material respect: 1. accounting records were not ke **p** t in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records 3. the accounts do not comply wit **h** the applicable reporting requirements I have no concerns and have come acro **s** s 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 account **s** to be reached. ## **Iqbal Chowdhury FCCA** Association of Chartered Certified Acco **u** ntants 16 High Holborn London WC1V 6BX Date: 15/10/2024 **----- Start of picture text -----**
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## **STATEMENT OF FINANCIAL ACTIVITIES STATEMENT OF FINANCIAL ACTIVITIES** |**INCOME AND EXPENDITURE**
**INCOMING RESOURCES**
Donations and legacies
Gift Aid
**Total Income**
**RESOURCES EXPENDED**
Fundraising costs
Charitable Activities Costs
Administrative Costs
**Total Resources Expended**
**Net Surplus for the year**
**Funds as at 1 January 2023**
**Fund Movement**
**Funds as at 31 December 2023**
**Total**
**Unrestricted**
**Restricted**
**2023**
Notes
£
£
£
**2**
14,984
706,401
721,385
79,610
79,610
**94,594**
**706,401**
**800,995**
**3**
12,473
93,143
105,616
**4**
11,050
633,408
644,458
**5**
8,679
34,147
42,826
**32,202**
**760,698**
**792,900**
62,392
(54,297)
8,095
24,588
111,099
135,687
(28,834)
28,834
-
**10**
**58,146**
**85,636**
**143,782**|| |---|---| ||| All of the charity’s activities derived fr **o** m continuing operations during the above financial periods. The charity has no recognised gains **a** nd losses other than those shown above. **----- Start of picture text -----**
3
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|**ST**
**STA**
**ATEMENT OF FINANCIAL POSITION**
**TEMENT OF FINANCIAL POSITION**|**ST**
**STA**
**ATEMENT OF FINANCIAL POSITION**
**TEMENT OF FINANCIAL POSITION**|**ST**
**STA**
**ATEMENT OF FINANCIAL POSITION**
**TEMENT OF FINANCIAL POSITION**|||| |---|---|---|---|---|---| |**Fixed Assets:**
Tangible Assets
**Current Assets:**
Debtors and prepayments
Cash at Bank and in hand
**Current Liabilities:**
Amount falling due within one year
**Net Current Assets**
**Total Net Assets**
**Funds**
Unrestricted funds
Restricted funds
**Total Funds**
Notes
**6**
**7**
**8**
**10**
**9**|£
79,610

65,172|**Total**
**2023**
£
-
143,782|62,135

74,552||| ||144,782

1,000||136,687

1,000||| ||||
||| |||
**143,782 **|||| |||58,146
85,636

**143,782 **|||| These financial statements were app **r** oved by the board of directors and authorised for issue on 7 October 2024, and are signed on behalf of th **e** board by: **----- Start of picture text -----**
di
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Shamsul Haque Trustee Sheikh Saleh Ahmed Ham **i** di Trustee **----- Start of picture text -----**
3
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|**STATEMENT OF CASHFLOWS**
**STATEMENT OF CASHFLOWS**|**STATEMENT OF CASHFLOWS**
**STATEMENT OF CASHFLOWS**|**STATEMENT OF CASHFLOWS**
**STATEMENT OF CASHFLOWS**|**STATEMENT OF CASHFLOWS**
**STATEMENT OF CASHFLOWS**|**STATEMENT OF CASHFLOWS**
**STATEMENT OF CASHFLOWS**|||| |---|---|---|---|---|---|---|---| |**Cash Outflow from Operating Ac**
Operating Profit
Depreciation
(Gain)/Loss on fIxed asset disposa**l**
Operating Profit Before Working C**a**
(Increase)/Decrease in Debtors
Increase/(Decrease) in Creditors
Cash from Operations
Net Cash Generated from Operatio
**Cash Outflow from Investment A**
Purchase of Tangible Fixed Assets
Net Cash inflow/outflo**w**
**Cash Outflow from Financing Ac**
Increase/(Decrease) of Loans
Net Increase/(decrease) in Cash a**n**
Opening Cash and Cash Equivalen
Closing Cash and Cash Equivalent**s**
**Reconciliation:**
Cash at bank and in hand
£
**tivities**
8,095
-

pital Chgs
8,095
(17,475)


ns

(9,380)
**ctivities**
-
from investment Activities
**tivities**

-

d Cash Equivalents
ts|£
8,095
-
|||**2023**
£

(9,380)
-
-
(9,380)
74,552

65,17**2**
65,172

65,17**2**
£
(43,342)

(43,342)
(1,415)

(4,376)

(49,133)
-
-|£
(43,342)
||| ||8,095
(17,475)

||||||| ||||||||| ||||||||| ||||||||| No separate statement of chang **e** s in net debt has been prepared as there is no di **f** ference between the movements in cash and cash eq **u** ivalents and movement in net cash (debt). **----- Start of picture text -----**
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NOTES TO THE FINANCIAL STATEMENTS
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## **NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS** ## **1 Accounting Policies** ## **Basis of preparation of accounts:** The financial statements have be **e** n prepared in accordance with Accounting and **R** eporting by Charities: Statement of Recommended Pra **c** tice applicable to charities preparing their accou **n** ts in accordance with the Financial Reporting Standar **d** applicable in the UK and Republic of Ireland (F **R** S 102) - (Charities SORP 2015 (FRS 102), and the **C** harities Act 2011. The charity meets the definition of a public benefit entity under FRS 102. Items are recognised at historical cost or transaction value unless **o** therwise stated in the relevant accounting policy note(s). The functional currency for presentation is sterli **n** g, with balances rounded to the nearest pound. ## **Income:** Income is recognised in the perio **d** when the charity is entitled to it, the income can be be measured reliably, and its probably that the income will be received. Donations are recognised when **t** he charity has confirmation of the amount and s **e** ttlement date. Income with peformance related **c** onditions is deferred until the conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity, and probably to be ful **f** illed in the period. ## **Expenditure categories:** Expenditure is included in the sta **t** ement of financial activities when incurred, and i **n** cludes attributable VAT which cannot be recovered. It is **c** ategorised as below: ## **Fundraising expenditure:** These relate to the costs of reso **u** rces in running events for public collection, as w **e** ll as processing fees on donation platforms. ## **Charitable activity costs:** These expenditures are for deliv **e** rance of objectives set out in the Trustees' report, and relate mainly to direct charitable work conduct **e** d, in addition to direct costs incurred in facilitatin **g** those projects. ## **Support costs:** Support costs relate to the costs **o** f governance, IT, finance and other activities inv **o** lved in managing the organisation. ## **Allocation of costs** Costs are allocated between res **t** ricted and unrestricted funds in according with th **e** purpose that the expenditure represents. Where e **x** penditure is directly incurred for projected delive **r** y where those projects are funded by restricted income, the expenditure will also be categorised as restri **c** ted. At present the charity does not allocate any support costs to restricted funds. ## **Tangible fixed assets and depreciation:** Tangible fixed assets are stated **a** t cost less depreciation. Depreciation is provided at the annual rates in order to write off each class of a **s** sets over its estimated useful life. FF & Office Equipment 20% on cost ## **Funds:** Unrestricted funds are available f **o** r use at the discretion of the trustees in furthera **n** ce of the general objectives of the charity. Restricted funds are funds which are to be used in accordance with specific restric **t** ions imposed by donors or which have been raised by the charity for particular purposes. The cost of raisin **g** and administering such funds are charged against the sp **e** cific fund. Further information on projects within restricted funds are **----- Start of picture text -----**
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NOTES TO THE FINANCIAL STATEMENTS
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## **NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS** ## **Going concern:** At the time of approving the accounts, the trustees have assessed that the charity has adequate resources to continue in operational existence for at least another 12 months. The first 7 mo **n** ths of 2024 have shown a surplus of £0.2m, and with car **e** ful budgeting, the charity will look to build its unrestricted reserves. ## **Income Summary** |**2**
**3**|
**Charitable Activities Income**
General Donations
Ramadan & Foodpack Project
Qurbani & Aqiqah Project
Winter Blanket Project
Tubewell Project
Healthcare & Emergency Project
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
Website
Unrestricted
Restricted
2023
£
£
£
14,984
14,984
40,656
40,656
43,003
43,003
1,514
1,514
127,918
127,918
12,602
12,602
12,432
12,432
128,666
128,666
194,446
194,446
120,278
120,278
24,886
24,886
79,610
79,610
94,594
706,401
800,995
Unrestricted
Restricted
2023
£
£
£
11,218
83,772
94,990
124
928
1,052
944
7050
7,994
62
463
525
125
930
1,055
12,473
93,143
105,616|| |---|---|---| |||| |||| **----- Start of picture text -----**
3
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NOTES TO THE FINANCIAL STATEMENTS
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## **NOTES TO THE FINANCIAL STATEMENTS 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
Payroll processing
General office running costs
Donation processing fees
**b) Governance Costs**
Trustee travel costs
Independent Examination Fees
**Total Expenses**
**6**
**Tangible Fixed Assets:**
**COST**
At 1 January 2023
**Additions**
At 31 December 2023
**DEPRECIATION**
At 1 January 2023
**Charge for the year**
At 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022
Unrestricted
£
Restricted
£
2023
£
11,050
633,408
644,458
11,050
633,408
644,458
Unrestricted
£
1,188
Restricted
£
8,719
2023
£
9,907
1,231
9,194
10,425
167
1,245
1,412
89
669
758
709
5,291
6,000
1,200
1,200
456
3,402
3,858
754
5,627
6,381
5,794
34,147
39,941
1,885
1,885
1,000
1,000
2,885
-
2,885
8,679
34,147
42,826
**32,202**
**760,698**
**792,900**
Fixture Computer
and Fittin
**£**
equipment
**£**
Totals
**£**
2,367
2,367
1,013
1,013
3,380
3,380
2,367
1,013
3,380
2,367
1,013
3,380
0
0
0
0
0
0|| |---|---| ||| ||| ||| **----- Start of picture text -----**
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|**NOT**
**NOTE**
**ES TO THE FINANCIAL STATEMENTS**
**S TO THE FINANCIAL STATEMENTS**|**NOT**
**NOTE**
**ES TO THE FINANCIAL STATEMENTS**
**S TO THE FINANCIAL STATEMENTS**|**NOT**
**NOTE**
**ES TO THE FINANCIAL STATEMENTS**
**S TO THE FINANCIAL STATEMENTS**|**NOT**
**NOTE**
**ES TO THE FINANCIAL STATEMENTS**
**S TO THE FINANCIAL STATEMENTS**|**NOT**
**NOTE**
**ES TO THE FINANCIAL STATEMENTS**
**S TO THE FINANCIAL STATEMENTS**|| |---|---|---|---|---|---| |**7**
**Debtors: Amount Falling Due <**
Gift Aid
**8**
**Creditors: Amount Falling Due**
Accruals
**9**
**Restricted funds movement:**
Ramadan & Foodpack Projects
Qurbani & Aqiqah Project
Winter Blanket Project
Tubewell Project
Healthcare & Emergency Project
Wheel Chair Project
Housing Project
Masjid Project
Education Project
Family Empowerment Project
Total
**10 Movement in Funds**
As at 1 January 2023
Current year
Transfer between funds
As at 31 December 2023
**One Year**
**< One Year**

Opening
Balance
Restricted
Income
£
£
18,653
40,656
-
43,003
-
1,514
17,175
127,918
5,081
12,602
25,110
12,432
42,131
128,666
-
194,446
-
120,278
2,949
24,886

111,099
706,401
Unrestricted
Funds
£
Restricted
Funds
£
24,588
111,099
62,392
(54,297)
(28,834)
28,834

58,146
85,636|||2023
£

79,61**0**

79,61**0**
2023
£
1,000

1,00**0**
Restricted
Expenses
£
46,897
39,782
1,865
126,353
7,303
3,324
164,132
207,590
133,810
29,642
760,698
Fund
Transfer
£
351
13,144
13,532
1,807
28,834||| ||||||| ||||||| ||||Restricted
Expenses
£
46,897
39,782
1,865
126,353
7,303
3,324
164,132
207,590
133,810
29,642
760,698||| ||

Unrestricted
Funds
£
Restricted
Funds
£
24,588
111,099
62,392
(54,297)
(28,834)
28,834

58,146
85,636|||
Total
£
135,687
8,095
143,782|| ||||||| **----- Start of picture text -----**
3
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Page: 29 GOREEB & **Y** ATEEM TRUST FUND | ANNUAL REPORT 20 **2** 3 G **O** REEB & YATEEM TRUST FUND **F** INANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 **----- Start of picture text -----**
F
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NOTES TO THE FINANCIAL STATEMENTS
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## **NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS** |**11**|**Staff costs**||| |---|---|---|---| |||**31.12.23**|**31.12.22**| |||**£**|**£**| ||Gross wages|62,382|55,727| ||Employer NIC|
0|0| |||62,382|55,727| ||||| ||||| No staff were renumerated in ex **c** ess of £60,000. There were no staff who chose to remain opted into a pension scheme during the y **e** ar. **----- Start of picture text -----**
ar.
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## **31.12.23 31.12.22** > Average number of employees 5 4 ## **12 Taxation** The entity is a registered charity **a** nd does not undertake non-charitable activities, **h** ence entitling it to tax exemptions from HMRC. ## **13 Post Balance Sheet Events** There were no significant post b **a** lance sheet events. ## **14 Contingent Liabilities** The charity had no contingent lia **b** ilities as at 31 December 2023 nor at 31 Decem **b** er 2022. ## **15 Related Party Transactions** There were no related party tran **s** actions during the year ## **16 Gifts In Kind And Volunteers** During the year the charity benefi **t** ed from unpaid work performed by volunteers. **----- Start of picture text -----**
2 3
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Page: 30 GOREEB & **Y** ATEEM TRUST FUND | ANNUAL REPORT 20 **2** 3