Charity Reg. No. 1124449
ORPHAN WELFARE TRUST
Trustees' Annual Report & Financial Statements for the year ended 30 June 2022
ORPHAN WELFARE TRUST
Financial Statements for the year ended 30 June 2022
Contents
| Page | |
|---|---|
| Charity information | 1 |
| Trustees' Annual Report | 2-4 |
| Independent Examiner's Report | 5 |
| Income and Expenditure account | 6 |
| Balance sheet | 7 |
| Notes to the accounts | 8 |
ORPHAN WELFARE TRUST
Financial Statements for the year ended 30 June 2022
Legal and Administrative Information
| Name of Charity | ORPHAN WELFARE TRUST |
|---|---|
| Charity Reg No | 1124449 |
| Flat - 31 | |
| 32 Truman Walk | |
| London | |
| E3 3FE | |
| Tel | 03330 119 555 |
| info@orphanwelfaretrust.org | |
| Website | www.orphanwelfaretrust.org |
| Management Committee Members | |
| Reporting Period | 2021-22 |
| Chairperson | Mohammed Ukil Ali |
| Secretary | Bodrul Islam |
| Treasurer | Rabeya Begum |
| Trustees | Zahangir Alam |
| Abidul Alom | |
| Bank Details: | |
| Account Name | ORPHAN WELFARE TRUST |
| Sort Code | 30 - 92 - 90 |
| Account Number | 0268 1720 |
| Bank Name | Lloyds Bank |
| Bank Address | Whitechapel Branch |
| 3-5 Whitechapel Road | |
| London | |
| E1 1DU | |
| Independent Accountant: | SYLDON & CO ACCOUNTANTS |
| 333 Stratford Workshops | |
| Burford Road | |
| London | |
| E15 2SP |
page 1
ORPHAN WELFARE TRUST
Trustees' Annual Report for the year ended 30 June 2022
The Trustees present their Report and Accounts for the year ended 30 June 2022.
The Charity Name:
The legal name of the charity is : ORPHAN WELFARE TRUST.
The charity's areas operation and UK charitable organisation:
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1124449.
Legal Structure of the charity:
The charity is constituted as an unincorporated charity, established by a written constitution. The governing documents of the charity is the written constitution approved by the members and endorsed by the Charity Commission in England & Wales (CCEW).
There are no restrictions in the governing documents on the operation of the charity or on its investment powers other than those imposed by Charity Law.
History, Objectives and Activities of OWT:
The Trustees submit their report and financial statements for the year ended 30 June 2022. Orphan Welfare Trust was formerly founded by Haji Ukil Ali in order to start the Masjid & Madrasa Project in 2003. Later; OWT was incorporated as a charity and its name entered in the Charity Commission's Central Register on the 10th June 2008.
OWT is a charitable and non-governmental community led organisation based in London Borough of Tower Hamlets and London Borough of Newham; supporting the needs of to improve the well-being of the community in UK and overseas to build better community cohesion with the wider community.
The objectives of OWT are charitable in nature and are of the following as laid out in the Constitutional documents;
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a) to relieve poverty, unemployment, isolation, housing and other disadvantages through the provision of advice, interpreting and training.
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b) to advance education through arranging courses/lectures/classes/workshops
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c) to improve health through better information and advice
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d) to provide recreation and leisure through arranging sports, trips and cultural activities.
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e) to support peoples, suffer due to age, sickness and disability through providing necessary services.
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f) to advance citizenship and community development
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g) to other purposes currently recognized as charitable and any new charitable purpose which are similar to other charitable purposes.
Governance and Management:
The charity is constituted by the Constitution. It is governed by the regulation set out in the Constitution and run by a volunteer management committee. The Charity's new committee members are elected at the Annual General Meeting in every two years. The new management committee members are normally briefed by the Chairperson and General Secretary in order to familiarise themselves with the rules regulations and responsibilities of the charity.
The management committee meet six times during the year to review the activities of the charity including the approval of the annual report and accounts as well as budget, capital expenditure and to set out the fund-raising date for the charity. The day to day work for the charity is overseen by the chairperson who is responsible to and reports to the management committee. The management committee are aware control these risks. Assessment have also been taking relating to fire and health and safety. The management committee are seriously looking into other risk areas such as operational, governance and compliance with law and regulations.
page 2
ORPHAN WELFARE TRUST
Trustees' Annual Report for the year ended 30 June 2022
Financial Review:
The trustees consider the financial performance by the charity during the year to have been satisfactory.
Reserve Policy:
It is the policy of the charity that unrestricted funds, which have not been designated for a specific use, should be maintained at a level equivalent to at least three-month expenditure. The Trustees consider that reserves at this level will ensure that in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised.
Risk Factors:
The Trustees have assessed the major risk to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Independent Examiner:
According to the provisions of the Charities Act 1993, the Trustees agree that an audit is not required for this financial year; however due to the provisions of the same act an Independent Examiner is required.
The Trustees agreed to re-appoint Syldon & Co. Accountants to carry out as Independent Examiner of the accounts.
page 3
ORPHAN WELFARE TRUST
Trustees' Annual Report for the year ended 30 June 2022
Statement of Trustees' Responsibilities:
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts & Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations, the Charities (Accounts & Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2008, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP 2015, (as amended by the Bulletin issues in February 2016), (The SORP).
In particular, charity law requires the trustees, if they prepare the accounts on accrual basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the trustees are required to:
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(a) to prepare the accounts in accordance with UK GAAP
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(b) select suitable accounting policies and apply them cosistently
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(c) make judgment and estimates that are reasonable and prudent
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(d) preparing the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business
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(e) state whether applicable accounting standards and statement of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair vie of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. 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.
The Trustees are also responsible for the contents of the Trustees' Report and the statutory responsibility of the Independent Examiner in relation to the Trustees' Report is examining the report and ensuring that, on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
This report was approved by the broad of trustees on 28 April 2023
Mohammed Ukil Ali Chairperson
page 4
ORPHAN WELFARE TRUST
Independent Examiner's Report to the Trustees of the charrity on the accounts for the year ended 30 June 2022
We report on the financial statements of the ORPHAN WELFARE TRUST for the year ended 30 June 2022, as set out on pages 0-8, which comprise the Statement of the financial Activities, the Income and Expenditure Account, the Balance Sheet and the related notes to the financial statements, including a summary of significant accounting policies. In our opinion, the accompanying financial statements of the charity are prepared, in all material respects, in accordance with FRS 102 SORP 2015, (as amended by the Bulletin issued in February 2016) (The SORP) published by the Charities Commission in England & Wales (CCEW), effective January 2016, under the historical cost convention, and in accordance with the accounting policies set out on pages 7, which framework constitutes the applicable UK GAAP.
Respective responsibilities of trustees and examiner
As described on page 2, you, the charity's trustees are responsible for the preparation of the accounts
The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the Governing Document for the conducting of an audit. The Trustees also consider the charity to be exempt from the requirement to be subject to Independent Examination.
Our responsibility is to prepare accounts upon the basis of the information supplied to us, without conducting any formal scrutiny.
No statement of opinion
We have not carried out any audit procedures and have relied upon information supplied to us by the Trustees, and the information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries, and consequently we do not express an audit or other assurance opinion on the view given by the accounts.
SYLDON & CO ACCOUNTANTS 333 Stratford Workshops Burford Road London E15 2SP
page 5
ORPHAN WELFARE TRUST
Statement of the Financial Activities for the year ended to 30 June 2022
| Incoming Resources Donations Received Other Total Income Resources Expended Direct Charitable Activities: Charity Donations Fundraising Activities Stationeries & PPS Total Resources Expended Administrative Expenses: Bank Charges Other Legal Expenses Accountancy Fees Other Administrative Expenses Total Fund Used Net Incoming/(Outgoing) Resources Total Fund brought forward Total Funds Carried forward |
2022 Unrestricted Funds £ 22,268 22,384 44,652 29,056 9,480 1,275 39,811 368 - 800 1,833 42,812 1,840 622 2,462 |
2022 Restricted Funds £ - - - - - - - - - - - - - - - |
2022 Total Funds £ 22,268 22,384 44,652 29,056 9,480 1,275 39,811 368 - 800 1,833 42,812 1,840 622 2,462 |
2021 Total Funds £ 34,579 11,261 |
|---|---|---|---|---|
| 45,841 | ||||
| 20,580 17,850 5,138 |
||||
| 43,568 | ||||
| 517 - 750 815 |
||||
| 45,650 | ||||
| 191 431 |
||||
| 622 |
page 6
ORPHAN WELFARE TRUST
Balance Sheet as at 30 June 2022
| Notes Fixed Assets Tangible Assets Cash at Bank and in hand 2 Current Liabilities: Amounts falling due within one year: Creditors & Accruals 3 Net Current Assets /(Liabilities) Net Assets / (Liabilities) Funds Unrestricted Funds Restricted Funds Total Funds ………………………………………. Mohammed Ukil Ali Chairman Approved by Trustees on: 28 April 2023 |
2022 £ - 3,212 (750) 2,462 2,462 2,462 - 2,462 |
2021 £ - |
|---|---|---|
| 1,372 (750) |
||
| 622 | ||
| 622 | ||
| 622 - |
||
| 622 | ||
page 7
ORPHAN WELFARE TRUST
Financial Statements for the year ended 30 June 2022
Accounting policies
(a) Basis of accounting
The accounts have been prepared on the accrual basis, under the historical cost convention, and in accordance with the Financial Reposting Standard 102, (effective 1 January 2016) and @FRS 102 SORP 2015 (as amended by the Bulletin issued in February 2016), (the SORP), published by the Charity Commission in England & Wales (CCEW), effective January 2016, and in accordance with all applicable law in the charity's jurisdiction of registration, exempt that the charity has prepared the financial statements in accordance with the FRS 102 SORP (as amended by the Bulletin issued in February 2016), (the SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts & Report) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accordance with current best practice.
(b) Risks and future assumptions
The charity is a public benefit entity.
(c) Incoming Resources
All incoming resources are included in the Statement of Financial Activities and received during the year.
Voluntary incomes are all grants and donation which are received in this financial year.
Resources expended are recognised in the Statement of Financial Activities which are incurred during this financial year.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity.
| Cash at bank and in hand Cash Bank Creditors Bank Loan Other creditor |
2022 £ - 3,212 3,212 - 750 750 |
2021 £ 500 872 |
|---|---|---|
| 1,372 | ||
| - 750 |
||
| 750 |
page 8