MSFF
THE MOHAMED S FARSI FOUNDATION
Company No. 06775730
Charlty No. 1128012
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2022

The Mohamed S. Farsi Foundation
Contents
Legal aThJ Admwbi51ratl
IndeFendent Examiner Rt
Slatement of Fwwnciol ActMtse5
8alarte Sheet
Statement of cash fkjws
Notesto FinarThl Statewts
9-11

The Mohamed S. Farsi Foundation
Legal and Administration
Reilster•d Chaflty p40.
112K112
Reglsterod Company N
6775730
Reitstered Addre5S:
9 Appold Street
London
EC2A ZAP
Trustees..
Mr. Hani Farsi
Mr. J05hva Hanfli
Mr. Hassan Dajani
Mrs. LoubeAdams
Ind•pendent Examlner&
Moore Kingston Smith LLP
6° Floor
9 Appold St￿t
London
EC2A 2AP
Bankers."
Coutts & Co.
440 Strand
London
WC2R OQS
The governing documents ofthe Foundation are the MemoTaThJum and Artides of
Association. last amended on 5 February 2(Kl9.
The charitable company was incorp)rated on 17 Oecember 2C
The charity is limited by guarantee and therefore does not have a share ¢aptral. The liability
of the member5 is limited to the sum of £1 per member.
Page: I

The Mohamed S. Farsi Foundation Trustee Report 2022
The Trustees ofThe Mohamed S. Farsi Foundation are pleased to present this report and
independentty examined financial statements for the year endir¥ 31 December 2022.
The Trustees confimi the annual rewrt and ffinancial statements compty with current
StsILrtory requirements. the requrremeftts of the ChariWs gO￿rnIng document and the
provisions of the Statement of Recommended practi￿ ISORPI 'Accounting and Reportin8 by
Charities..
Obl•rtlves and Artl¥ltles
The Mohamed S. Farsi Foundation has four areas of focus. All of our efforts are forthe
benefft of the public and are e¥cluyvety charitsble. We work Close￿ wrth phiianthro
advisors to find global grant-makiTh¢ opp)rtunitie5 ¥A￿re small amounts of money can have
a large and sustainable impart. We espechilly prioritise social retum on our investments,
seek the guidance of advisors in meetin8 each olthe below obpdr¥es. and support
or8anizatior6 that show a commttment to innov*v)n And bi8 ideas.
In particular we focus on:
Education..
Health or the saMn8of Iwes:
The arts. culture. herrtage or stienct. and
International de¥elopment.
The Ye¥ In R•
The Foundatton has had another thalen8ln8 year*th disapwntingly. no fimwv4ement in
the fundin8 source from wthich grants are made. Hovfftr. the trustees are cautious
opOmt5J¢ that the fvnds llow will shortty *in to Impr￿ and that they wi15 then be In
posltion to agfeè an incrèasèd number of 8rants. During the year the Trustees approved a
grantof USD 40.(￿ to South Kent School.
The Twuslee5 also discussed makin8 a 8rant to the UCL Architectural School in memory of or.
Farsi. the Foundatfion's founder who was an architect. but reBrettab￿thIS. tQ8ether with
other grants. had to be postp)r*ed untll fvnd5 are availabje. Despite the financial constrnints.
the Tru5tee5 continued to ¢fLSCUSS various proie¢ts wished the Foundation to support
when It ￿1￿ and remain confident thatthe poslkn in futuré yÈar5 wdl improve.
Grant Makhy Pohcy and (k8ani5atkwl StnKt
Thè MSFF doe5 not ac￿p1 unsolicited requests forfundfj￿. All Erant requests come through
the tfustees and are then discu￿ed with the board at its quarterty meètings. If approved bv
the board, appropriate due diligence is completed Prior to the Issu￿@ of the granL
The Foundation ha5 a strict policy of inclusNeness and onty funds org3nisatKJns that meet
this Stsndard in their operations. employrnènt and athlocacy. The Foundation prefers
rèquests for programs, and tends not to fund events. overheads or endowments otherthan
for Strategic Partners or legacy 8ranlees.
The trustees refer to guidan¢e in the Charity Comffussion's guidance on Public 8enefit
when reviewing the Foundation's aims and objedives, and planning future artivities. The
tnjstees are responsib￿ forfollowing up on the grants and ensurin8 the rnoney is being used
Page.. 2

The Mohamed S. Farsi Foundation Trustee Report 2022
as directed. as well as for the MSFF website and all extemal comrnunKations for the
Foundation.
Future Pl
A primaryfocus of 2023 will be the continuin8 revbew of the Foundation's future straiewc
priorities for the ￿xt decade. Legacy C￿MItMents wiu continue throu8hout thi5 woces
FIna￿la1 Re¥5
In the year. £30.525 was received from the Foundath)n's founder and trustee, and this wa5
the onty income in the year.
The FoundatKJn spent £27A54 on charttabltarti¥ities and awarded grants totalir* £32,037
in the ojrrent finantial year.
At the year end the dmrity had totsl resew of £3.29112021.' £6201, all of which were
unrestricted. The Foundation's founder and trustee will tontinue to support the thaflty in a
personal capacity for3 perlod of at least 12 rnonthsfrom the date of approval ofthe
financlal statements.
Resebyes Pollry
The Foundation does not have reserves at this time. All grants and expenses in 2022 were
funded on an a5-needed basis. The need for. and potertlial athanta8es of. a reserve policy
will be reviewed in future years a5 the Foundation continues to grow.
Rlsk Manaynwt
The Trilstees regula1￿ examine the major risks to which the Foundation 15 exposed and,
when any particular risks are deemed ￿gnIfican[ di5CU5S them at Trustees. meetin85 a5 well
as appropriate steps necessary to mitiBate them.
The Foundation'5 fundinB sources have been disrupted a5 a result of the pandemic and
adivlt*s cOnt￿Yed to be curtailed in the ojrrent year.
There were no other signif￿an1 risks identified dur￿8 2022.
Appolntment of Trustees
The FOundat￿n bylaws allow any person who is willing and legal￿ pemiilled to art as a
trustee as apFx>inted ￿ ordinary resobjtion of the members.
Statement of Trustee< Ile$p￿bIlItIeS
The trustees lolwhith Mr H4ni Farsi is a150 a directorof The Mohzmed S. Farsi Foundation
for the purposes of company lawl are responsible for preparin8 theTrustee5' Report and the
financial State￿nts in accordance with applitable law and United Kin8dom Accountin8
Standards (United Kingd¢xn GeneraltyAc£epted Accountiftg PrJrtKel.
Company law require5 trustees to prewe financial staternents for each financial year. This
8ive5 a true and frair v*w of the state ofthe affairs of the charttable company and of the
Page.. 3

The Mohamed 5. Farsi Foundation Trustee Report 2022
incoming resources and appltcation of resour¢es. ind￿lIng the income and expendI￿re. of
the charitable ¢ompany forthat period. In preparlng these finantial st3tements. the
trustees are required to..
• seled suitable accounting policies and then applythem consistent￿.
observe the methods and principles in the Charities SORP..
• make judgements and estimate5 that are reasonable and prudent.
• state whether applicable UK Accounting Standards havè followed, subject to ary
material departures disdosed and explained in the financial statements- and
prepare the finanoal statements on the going conorn basis Un￿55 It is Inapwopriate
to presume that the charitable company will continue in business.
The Trustees are responslble for keelyr￿ properaccounting records that disclose with
reasonable accurary at any time the finantial position ol the charitable company and enable
them to ensure that the financial statements comply with the Companies Act 2C#)6. They are
also responsible for safeguarding the assets of the charitable company and hence for taklng
asonable steps forthe preventitin detertion of fraud and other iireBularities.
Thbs report has been prepared in accNdance with the special wovlsions of Part IS ofthe
Companies Act 2£￿ ap￿1£able to small cornpanies.
Independeni Ex•mlners
Moore Kingst￿ Smith LLP have indicated theirwillirwe5S to continue in Offi￿ and It is
proposed thatthty be re-appointed independent examinets forthe ensuing year.
This report was approved by theTrustees on 2810912023
¥ThJ 5i8ned on their behalf by:
Hanl Farsl
Trustee
Page- 4

Report of the Independent Examiner to the Trustees of The Mohamed S.
Farsi Foundation
I report to the charity trustee5 on ry exarrwnotw￿ of the accounts of the Company for the year ended 31 December
2022, which comprise the Ststernent of FinancialP£tNities. Oalènce Sheet relaiÈd mote¥
Aesponsibili¢i•s •md lja5i50f rwt
As the £haritls trusttts of the Company land a150 its directors for the P￿r￿seS of company lawl yw are reS￿51b
for the PTeparation ofthe Krounts in ar(o￿arKe wrth the rewwementsofthe Compan*s Aci 2￿61't￿ 2(￿ ACYI.
HaVI￿5•t15f￿d my5eWthat the accounts ofthe Company are not requ￿￿ io ￿ audi*d under Part 16 ofthe 20C6Act
and are eliK1b￿ lor ￿ePe￿￿eTht examlnation. I rewt in of ry examinatK>n of ywr tharity's accounts as
(arr*d urthr sectiorb 14S of the Charilies Act 2011 1.the 2011 In ca￿￿nE out my examinatson I have
followed the Dlrettions given Ch•rityCommw¢)n undEr5eclioTh 14951 Iblofthe 2011 Act
Independert EX¥mlnerfs￿I1Irnw)t
I have completed my exan￿nath￿. I confimi that Th) h•* torre to attent￿ in connectbn with the
exam￿atty)n glw.ng me cau*to bel*¥e'.
11 acLrJuNine ￿¢0￿￿tre not kept in re5Ptttofthe Cornpanyas required lryseaion 386 ofthe 2C(6 Act: or
21 the atttyjntsdo notac(ord withtlw records: or
31 the att￿ntS do not c(wnpty with the accouThtin6 requirernentsof sertion 396 of 2fK16ALt other than aw
requirementthat the ￿Count$ 81¥* a'true and fai< VIÈW whKh t5 nota m•tterci)wdered as part of aft
independent examinaiiM- or
41 theaccwnts ha¥e not been prepared in ac(ord4ntt withthe method5 artl ￿nCIP￿s0fthe ￿tement01
Recommended Pratt￿e foi accountin8and reportiry bytharitie5.
I ￿Ve no toncems and ha￿ rorre rK) other matters In connecttln w￿h the examinaih)n to attentlon
shtsuld be drown in thi5 report in ordei to eTrab￿ a proper understanding of the 4rcoyntsto be reached.
ocxe
•m Fyllerton. FCA LKhA
forand on behalf olmoow Kiwon SnWI Lip
9 Appold Street
London
EC2A 2AP
Oate: 28 September 2023
Page: 5

The Mohamed S. Farsi Foundation
Statement of Financial Activities
lor the year ended 31 December 2022
Unre5tfkned
Fund5
Total
X122
Totsl
2021
Grartsand don*kMs
30.525
Tot•1
30.52S
59.932
Expendtture o
c￿rilab￿ Ath
Z7.854
78.366
Total
27.854
27.854
14•f on¢on￿{t￿penditUleI
18.434
Fund balan￿ lo￿￿￿ at
I kilm￿2012
620
Fund balances ¢a1riedforwa￿ at
31 Oecember2022
3.291
620
The State￿Trt of ￿n•￿Ill A(tw4i*S ￿1￿ctsthe re¥j￿01£OntinU[￿aCt￿I1￿￿ fwthe yeor.
l ￿t￿nISed gains aNI bsses are imduded inthe StstementofFinarKièl*£tsth.
notes on pase5 9 to 11 fomi partofthesefinancial statement&
Page.. 6

The Mohamed S. Farsi Foundation
Balance Sheet as at 31 December 2022
Note
2022
2022
2021
2021
Debtor5
Cash at bank and In ha￿1
34,475
2,223
36,698
9.191
Credhtys.. Amounts1alllnR￿*
wlthln one￿r
36.078
r4ei CurrtntA5sets
3,291
620
620
FuMIs
un￿$tr￿￿ed fvnds..
General funds
3.291
620
3.291
620
Ftytheyear er¥led 31 Derember2022 the charitywasent6tsed toexemptthfromaudit undersect￿47701 the
Compani25 Acl 2(#J6 rdatir¥ to smèll cLryanie&
The members have not requ￿ thecompany toobtainan audfjtof itsa¢wntslorthe year in questbn In accordarfe with
seth￿￿476 ofthe CompaniE5 Act 2CQ&
The director5 acknowledge their responsikn.1rtyforttynp￿Irtg￿iththe requirew￿[￿ of the *£t wlth respect
to a¢oKJThtinK retofd5 for the weparakn ofaccoun
These accounts have been wepared in aCt(thr￿ with the applKabbe toCom￿n￿$ subjettto the Small
companles regSme withln Part 15 ofthe Compan￿SA￿ 2(￿.
Approved bythe tru5teeson _
Hanl Farsl
Trustee
Company No. C6775730
Page.. 7

The Mohamed S. Farsi Foundation
Statement of Cash Flows
for the year ended 31 December 2022
22
2021
Net Cash lused inVpr¢y4lded by<>puath¥•¢th*les
L972
15721
cash in th• rwiiry
L972
15721
Cash at the bi8lnnlry olthe pErfod
2.795
Cashat Iht ofth¢ repO￿ry perfod
RewncilIat￿ntsI Net MoNYmentof Fundsto Net Cashlbow
from operatiryActi¥i￿s
14et lexpendytyrel forthe repLVtiry pwknd •sperthe
staternent of flnarKial acb¥it
1671
118.4341
Adlustments ts..
In¢reasellde£reasel In credito
IncreaselldecRasel in debtors
Nei ¢•sh (used ￿TrIp￿Ilded byupeAth¥aEifr•*les
130.1781
17.862
1.9n
sn
Analysts of¢ash 4nd ewhalents al￿ r* debts
Cash in har¥J and at bank
Opening bal￿
Ca5h.flows
balarKe
2,223
2.795
572
2,223
4.195
Page.. 8

The Mohamed S. Farsi Foundation
Notes to the Financial Ststements
For the year ended 31st December 2022
A(fount1￿ PolKies
Basis of prep•r•tion of financial staternwts
The frnancial statements h8¥e been prepored in ￿cordaI￿e with the FIna￿la1 RepDrtinE Stsrthrd applicable In the
UK and RepvblK of Ire￿nd IFRS 1021. pulAthed on I6JU￿ 2015. The Choritab￿ Cornpny isa public ￿neff( entity
forthe purpose5 of FRS 102 ar*J therelorethe charrtyalso prepared it5 financial 5tstemeTht5 in accordarKe wr¢h t
ststement ol Recomrmnded Prattice aP￿Itable to charitE5 weparing th•r accounts in accordan£e with the
FinarKial Reporting StaTrIa￿ aPp1kab￿ in the UK aTra Republic of IrelaTrJ (The FRS 102 Charrties SORPI. the
Cc4npan*s Att 2[￿ and thÈ Chatibe5 Art 2011.
The hnancSal statements are prepared in Ster1¥￿ which isthe fUrKth￿aI curtew of ihe comp•ny. mO￿tary
amounts In thesethnan£h11 statemÈnts are rounded tothe ￿arest F￿lThj.
charity Is a publit benefft entitya5 defined ty FRS 102. Itex15ts sol2fyto pursue its thorilalAe oblecti¥e5and does
n¢X seek to makea finan0￿ return.
bl Goity Con¢ern 8•5iS
The trustees have asse55ed w￿her the useofthe 8orng(oncerN basis is •pproprsote and have c0nshle￿d possible
E￿ntS ry condition5that rn￿t casi syfficant d￿bt on the ability ofthe charitabk cc#nparry tocontlnue as a goini
corKem. The trustees have made this asse55rrrntfora perirrtl of at least one year from the date olapproval of the
financial staternersts. In particuLarthetru51ees h•%t con5xlered the tharitab￿COMpanIS fore(astsand proiertion5
and have tak￿ account of pre&sure5 on donthbn irKome. After Makfr￿ enqtsires the trustees have concluded that
there Isa reasonab￿ expe[tat￿n that thtthèritable (cffjpany has adequate reKwrces to Continue In operat￿Tha1
existen￿ for foreseeable future. The charitabbe (ompanvtherefo￿ contmiiies to adoptthegoing concern basis in
eparinB itsfinancial 5t4terner￿.
¢1 Fund •¢Co￿tIty
General fvnds are ￿n￿$￿thd fvhds whkh are availab￿ for use at ￿ disuebon of thetrv5tees in lurtherance of
Ihe gener4 obitttffts of the dwtible (ompartyand wh*h hbt Thx beendesiKnated for other purposes.
dl I￿orne
IrKomefvom donations and gmts 6 whEn rErei¥able the (b)nor hès S￿ofi￿d thatthe ￿￿tIoTr or
grant iektes to a future period oithat crytain pr￿Ondit￿5 n¥Jsi befv￿lI￿ befo￿ use. In these ¢ase5 the
amounts receNed are recognised in the relevant per￿ or when the pre-conditions have l)eem metarxl until then
treated as deferred incorre. Don•tvJns or grants for particukr a￿ ¥¢C￿nted for as restrrted funds.
el ExpMilitur• and its ba515 (rfèllora
Eymditure 15 included in the Ststementof Fknahtial Acti¥Ttie519)FAI ￿ an oc(rua15 basis.
pport costs comprise the ¢05ts of adrnini5teringthe *Nii*sof the diaritya1￿ t5 ￿cluded within charitable
eynditure. G¢)vemance c05tsare ￿luded in yjpport costs asso¢wted wrth en5umgthe Charity meets rtsfidutitiry
dutles.
Ch¥riUINe actfvtymsts [￿l￿de 8rants payabk tothird in fvrtheran￿ ofthe charikble obierts oftht
¢h•rity.
Page". 9

The Mohamed S. Farsi Foundation
Notes to the Financial Statements
For the year ended 31st December 2022
Accourrtlry Poldes Icontknuedl
IJ Cthital act￿￿1￿¥ WiM¥wte5anO4￿a5 olJu*emert
In Prepari￿ financial statew*nts bt i% wessbryto m•kecertainNdgements. est￿eS and •ssumptH>Nsthot
affectthe aft￿nts retognised ifi thefinana* 5tatemert& There are ngestimatesconsAlered to hovea 5¥nificant
effect.
81 Flnanclal Insiriiiiients
C•sh •rKI C•5h Equiwalwrts
C•sh and ush equ¥b7lents cash at banks and in hand and slK>rt term depoyt5with a rna￿rty date of
three mnth5 or less.
l Grants and don•t
Total
Yotsl
2021
UNe#ii¢t•d
tjonotws
30,525
59.932
Charitableartmtles
Trf•l
2012
Totsl
2021
Vnremrlued
Gfants Ir¥)te 41
Support costs Inote 51
32.037
32.037
75.149
27
27.854 ￿54
An*Jis clernnts rtwle
No.
The advan￿￿￿ of educ*K)n
The advancement of the arts. c￿￿Ure. herita8e orscien
The ad¥anceft*nt of international de%tloprnent
32,037
69.519
S.630
75.149
Page.. 10

The Mohamed S. Farsi Foundation
Notes to the Financial Statements
For the year ended 31st December 2022
pport ¢osts
2021
Indeperthnt examlnatWaL*lit &￿t￿NtIn￿
Legal and professional fees
MiKellaneous expenses
3,2CQ
(7,7701
387
2,412
3(L)
505
rfftrnarKe costs i[￿ded wrthin support costsanM)unted to1£4,570112021: £2.712
The charity doe5 employ any stsff.
No membersolthe Board ofTrustees remur￿lat￿￿ for their ¥w¥Ke5 durlry the year. nor any exper
reimbwsed.
Debtors
2022
20ZI
¢)her Oebtor5
34.475
8 Crethtorn f•lh*duewlll4n one ￿ar
2022
2021
Accrua15
3,2C
5.202
22.236
&640
Er creditor5
Genwal F￿ndS
Gewal Fund rrf¥esents funds available for proJecis admlnisiraiKIA.
Iffthe￿ we no furK15 ovailolle General F￿￿. admintstratNe eXpendi￿re will ￿ met tytheTrustees.
10 Rel*¢d PartyTransartlons
Dur￿6 the year. donathjns were recei*d totslliry£30S2512021.. £59.9321 Irom H Fa￿. truste¢
11 KeyManagen￿nt P¢rsonr
Key managerr*nt pe(sC￿ne1 c¢xA￿l$e I￿rd of trustee5. Thetharlty has noempknffje>
Page.. 11