DocuSign Envelope ID: AA21ED0A-5FFF-4CB1-AB92-0DB224EACB99
Charity Number: 1122875
ESSA FOUNDATION
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
DocuSign Envelope ID: AA21ED0A-5FFF-4CB1-AB92-0DB224EACB99
ESSA FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Charity Number: Business Address
Yakub Ibrahim Patel Adam Hassan Umarji Ibrahim Bobat 1122875 PO Box 2076 Lynstock House Lynstock Way Lostock Bolton BL6 4SA
Independent examiner
Cowgill Holloway LLP Chartered Accountants Regency House 45-53 Chorley New Road Bolton BL1 4QR
DocuSign Envelope ID: AA21ED0A-5FFF-4CB1-AB92-0DB224EACB99
ESSA FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees’ report | 1 - 2 |
| Independent examiners’ report to the trustees | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Statement of cash flows | 6 |
| Notes to the financial statements | 7 - 8 |
DocuSign Envelope ID: AA21ED0A-5FFF-4CB1-AB92-0DB224EACB99
ESSA FOUNDATION
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022
The trustees present their report along with the financial statements of the charity for the year ended 30 September 2022. The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the charity’s trust deed and applicable law.
Constitution and charitable objects
The Essa Foundation is constituted under a trust deed dated 17 September 2007 and is a registered charity number 1122875. The objects of the charity are to relieve poverty, to support and provide funds to organisations which provide religious or otherwise education to children and to donate funds for general charitable purpose.
Development, activities and achievements this year
The trustees consider that the charity has continued to carry out its objectives.
Future developments
The charity will strive to meet its fundamental objectives in this coming year by increasing its activities in the local and wider communities.
Transactions and financial position
The statement of financial activities shows a net increase in accumulated funds for the year of £13,171 as Essa Foundation carried out its objectives and the accumulated reserves stand at £284,065 in total.
Reserves
The trustees are confident that the reserves will be utilised in pursuance of the charities objectives.
Organisational structure
The trustees who served during the year and since the year end are set out at the front of these accounts. Trustees are appointed by the board of trustees.
Risk management
The trustees have examined the strategic, business and operational risks which the charity faces and confirm that the systems have been established to enable regular reports to be produced so that the necessary steps are taken to lessen these risks.
Statement of the Trustees’ Financial Responsibilities
The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
The trustees are required to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of The Essa Foundation and of its incoming resources and application of resources of the charity for that period. In preparing the financial statements, the trustees should follow best practice and:
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Select suitable accounting policies and apply these consistently
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Make judgements and estimates that are reasonable and prudent
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DocuSign Envelope ID: AA21ED0A-5FFF-4CB1-AB92-0DB224EACB99
ESSA FOUNDATION
TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022
- Prepare the financial statements on a going concern basis unless it is inappropriate to assume that Essa Foundation will continue their activities.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure the financial statements comply with the applicable law, regulations and the trust deed. 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.
On behalf of the Board of Trustees
Ibrahim Bobat
DATE: 3/5/2023 | 4:36 PM BST
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DocuSign Envelope ID: AA21ED0A-5FFF-4CB1-AB92-0DB224EACB99
ESSA FOUNDATION
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022
I report to the trustees on my examination of the accounts of Essa Foundation (the trust) for the year ended 30 September 2022, which are set out on pages 4 to 8.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trustee’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiners’ statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with my examination giving me cause to believe that in any material aspect:
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1) accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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2) the accounts do not accord with those records; or
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3) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a “true and fair view” which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
DATE: 3/5/2023 | 4:57 PM BST
ALEX HESKETH ACA COWGILL HOLLOWAY LLP CHARTERED ACCOUNTANTS
Regency House 45-53 Chorley New Road Bolton BL1 4QR
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DocuSign Envelope ID: AA21ED0A-5FFF-4CB1-AB92-0DB224EACB99
ESSA FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022
| Notes Unrestricted Funds Restricted Funds INCOME AND ENDOWMENTS FROM: £ £ Donations 2 250,000 - Total Income from charitable activities 250,000 - Expenditure on: Accountancy fees 1,070 - Donations 235,500 - Bank charges 259 - Sundry expenses - - Total expenditure on charitable activities (236,829) - Net movement in funds 13,171 - Total funds brought forward 270,894 - Total funds carried forward 284,065 - |
Total 2022 £ 250,000 250,000 1,070 235,500 259 - (236,829) (19,093) 270,894 284,065 |
Total 2021 £ 205,000 205,000 600 223,250 247 (4) (224,093) |
Total 2021 £ 205,000 205,000 |
|---|---|---|---|
(19,093) 289,987 |
|||
270,894 |
The notes on page 7-8 form part of these financial statements.
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DocuSign Envelope ID: AA21ED0A-5FFF-4CB1-AB92-0DB224EACB99
ESSA FOUNDATION
STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 30 SEPTEMBER 2022
| ________ Notes CURRENT ASSETS Cash at bank and in hand CREDITORS: Amounts falling due within one year 3 Net Current Assets NET ASSETS FUNDS Unrestricted funds 4 Ibrahim Bobat Trustee |
__ £ 285,015 285,015 (950) |
___ 2022 £ 284,065 284,065 284,065 284,065 |
__ £ 271,494 271,494 (600) |
_ 2021 £ 270,894 270,894 270,894 270,894 |
|---|---|---|---|---|
DATE: 3/5/2023 | 4:36 PM BST
The notes on page 7-8 form part of these financial statements.
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DocuSign Envelope ID: AA21ED0A-5FFF-4CB1-AB92-0DB224EACB99
ESSA FOUNDATION
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2022
| Note Cash flows from operating activities: Net cash provided by (used in) operating activities 5 Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2022 £ 13,521 13,521 271,494 285,015 |
2021 £ (19,093) (19,093) 290,587 |
|---|---|---|
| 271,494 |
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DocuSign Envelope ID: AA21ED0A-5FFF-4CB1-AB92-0DB224EACB99
ESSA FOUNDATION NOTES TO THE FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022
1 ACCOUNTING POLICIES
1.1 Basis of accounting
The financial statements are prepared in accordance with applicable accounting standards including FRS102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” using the historical cost convention.
The financial statements reflect the requirements of the Statements of Recommended Practice ‘Reporting and Accounting by Charities’ issued in October 2019.
1.2 Income and endowments
Income and endowments from charitable activities is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. Gifts donated for resale are included as income when they are sold. Donated assets are included at the value to the charity where this can be quantified and a third party is bearing the cost. The value of services provided by volunteers has not been included.
1.3 Expenditure
Expenditure on charitable activities are recognised in the year in which they are incurred. Expenditure on charitable activities include attributable VAT, which cannot be recovered.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management.
Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
| 2 DONATIONS Donations received 3 CREDITORS: Amounts falling due within one year Accruals & deferred income 4 UNRESTRICTED FUNDS 1 Oct 21 Incoming £ £ Unrestricted fund 270,894 250,000 |
Unrestricted Funds 2022 £ £ 250,000 250,000 2022 £ 950 Outgoing Transfers 30 £ £ (236,829) - |
2021 £ 205,000 |
|---|---|---|
2021 £ 600 Sept 22 £ 284,065 |
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DocuSign Envelope ID: AA21ED0A-5FFF-4CB1-AB92-0DB224EACB99
ESSA FOUNDATION
NOTES TO THE FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022
5 RECONCILIATION OF NET MOVEMENTS IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net movement in funds for the reporting period (as per the statement of financial activities Adjustments for: Decrease/(increase) in debtors Increase/(decrease) in creditors Net cash used in operating activities |
2022 13,171 - 350 13,521 |
2021 (19,093) - - |
|---|---|---|
| (19,093) |
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