Charity registration number 1126069
Company registration number 06674416 (England and Wales)
HABAID
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
HABAID
CONTENTS
| Page | |
|---|---|
| The Trustee's Report report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 - 9 |
HABAID
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | L G Bednash |
|---|---|
| J A Castle | |
| H Daniel | |
| Charity number | 1126069 |
| Company number | 06674416 |
| Registered office | Handel House |
| 95 High Street | |
| Edgware | |
| Middlesex | |
| HA8 7DB | |
| Independent examiner | Grunberg & Co Ltd |
| 5 Technology Park | |
| Colindeep Lane | |
| Colindale | |
| London | |
| United Kingdom | |
| NW9 6BX |
HABAID
THE TRUSTEE'S REPORT REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2022
The Trustees present their annual report and financial statements for the year ended 31 August 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
Objectives and activities
Habaid raises funds to support a number of charities whose primary purpose is helping disabled, ill and disadvantaged children.
Public benefit
The trustees confirm that they have complied with their duty to have due regard to the public benefit in exercising powers and duties.
Achievements and performance
During the year under review the Habaid charity donated £13,987 (2021: £7,738) to children's charities that work within its objectives. This financial support is helping to improve the lives of many disadvantage children, some of these youngsters suffer from very serious illnesses.
Financial review
In the financial year 1 September 2021 to 31 August 2022, the charity received income of £26,009 (2021: £331). The total expenditure was £17,333 (2021: £10,106).
Reserves policy
The charity maintains sufficient unrestricted funds in reserve during the year to enable it to meet expenditure in pursuing its charitable objects, including the need to make deposits for its fund raising events. The trustees keep under regular review the amounts so retained from time to time. The trustees consider that the amount retained as reserves as at the date of these accounts is sufficient to meet the charities requirements.
Structure, governance and management
The charity is controlled by its governing document, the Memorandum and Articles of Association, and constitutes a limited company by guarantee, as defined by the Companies Act 2006.
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
L G Bednash
J A Castle
H Daniel
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HABAID
THE TRUSTEE'S REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
Reference and administrative details Registered Company number 06674416 (England and Wales)
Registered Charity number 1126069
Registered office Handel House 95 High Street Edgware Middlesex HA8 7DB
Trustees
L G Bednash H Daniel J A Castle Company Secretary H Daniel Independent Examiner Grunberg & Co Limited Chartered Accountants 5 Technology Park Colindeep Lane Colindale London NW9 6BX
Charity bankers National Westminster bank 135 Bishops London EC2M 3UR
The The trustee's report report was approved by the Board of Trustees.
H Daniel Trustee
15 May 2023
- 2 -
HABAID
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF HABAID
I report to the Trustees on my examination of the financial statements of Habaid (the ) for the year ended 31 August 2022.
Responsibilities and basis of report
As the Trustees of the (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the ’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). 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 examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the as required by section 386 of the 2006 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 financial statements to be reached.
Robert Bean BA ACA ICAEW Grunberg & Co Limited Chartered Accountants
5 Technology Park Colindeep Lane Colindale London NW9 6BX United Kingdom
Dated: 16 May 2023
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HABAID
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2022
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2022 | 2021 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 2 | 26,009 | 331 |
| Charitable activities | |||
| Expenditure on: | |||
| Raising funds | 3 | 1,175 | 964 |
| Charitable activities | |||
| Donations | 4 | 16,158 | 9,142 |
| Total charitable expenditure | 16,158 | 9,142 | |
| Total expenditure | 17,333 | 10,106 | |
| Net income/(expenditure) for the year/ | |||
| Net movement in funds | 8,676 | (9,775) | |
| Fund balances at 1 September 2021 | 28,983 | 38,758 | |
| Fund balances at 31 August 2022 | 37,659 | 28,983 | |
| The statement of financial activities includes all gains and losses recognised in the year. |
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 4 -
HABAID
STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2022
| Notes Current assets Debtors 8 Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Income funds Unrestricted funds |
2022 £ 895 37,964 38,859 (1,200) |
£ 37,659 37,659 37,659 |
2021 £ 129 29,853 29,982 (999) |
£ 28,983 |
|---|---|---|---|---|
| 28,983 | ||||
| 28,983 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2022.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 15 May 2023
H Daniel
Trustee
Company registration number 06674416
- 5 -
HABAID
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
1 Accounting policies
Charity information
Habaid is a private company limited by guarantee incorporated in England and Wales. The registered office is Handel House, 95 High Street, Edgware, Middlesex, HA8 7DB.
1.1 Accounting convention
Basis of preparing the financial statement
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the . Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
There are no material uncertainties regarding the going concern of the charity.
1.2 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.3 Income
Income is recognised when the is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
- 6 -
HABAID
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
1 Accounting policies
(Continued)
1.5 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the ’s contractual obligations expire or are discharged or cancelled.
2 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Donations and gifts | 26,009 | 331 |
| Raising funds | ||
| Unrestricted | Unrestricted | |
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Fundraising and publicity | ||
| Other fundraising costs | 1,175 | 964 |
3 Raising funds
- 7 -
HABAID
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
| Raising funds | (Continued) | |
|---|---|---|
| 1,175 | 964 | |
| Grants payable | ||
| Donations | Donations | |
| 2022 | 2021 | |
| £ | £ | |
| Grants to institutions: | ||
| Other | 13,987 | 7,738 |
| 3 4 |
Raising funds Grants payable |
|---|---|
5 Support costs
| Support costs Governance costs £ £ Exchange Losses 213 - Postage and stationery - - Bank charges 558 - Accountancy - 1,400 771 1,400 Analysed between Charitable activities 771 1,400 |
2022 Support costs Governance costs £ £ £ 213 - - - 40 - 558 425 - 1,400 - 940 2,171 465 940 2,171 465 940 |
2021 £ - 40 425 940 |
|---|---|---|
| 1,405 | ||
| 1,405 |
Governance costs includes payments to the auditors of £1,400 (2021- £940) for independent examiners fees.
6 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the during the year.
7 Employees
The average monthly number of employees during the year was:
| 2022 | 2021 | |
|---|---|---|
| Number | Number | |
| Trustees | 3 | 3 |
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HABAID
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
| Employees There were no employees whose annual remuneration was more than £60,000. Debtors Amounts falling due within one year: Other debtors Prepayments and accrued income Creditors: amounts falling due within one year Accruals and deferred income |
(Continued) 2022 2021 £ £ 800 - 95 129 895 129 2022 2021 £ £ 1,200 999 |
(Continued) 2022 2021 £ £ 800 - 95 129 895 129 2022 2021 £ £ 1,200 999 |
|---|---|---|
| 129 | ||
| 2021 £ 999 |
7 Employees There were no employees whose annual remuneration was more than £60,000.
8 Debtors
9 Creditors: amounts falling due within one year
10 Related party transactions
There were no disclosable related party transactions during the year (2021 - none).
11 Financial Assets & Liabilities
2022 2021 £ £ Financial assets 38,685 29,774 Financial liabilities 1,200 1,000
- 9 -
Document Activity Report
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