2022-12-31-accounts - Najat Foundation

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REGISTERED CHARITY NUMBER: 1133459

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2021

for

Najat Foundation

ACN Accountants Chartered Certified Accountants 41 Orsett Road Grays Essex RM17 5DS

Najat Foundation

Contents of the Financial Statements
for the Year Ended 31 December 2021

		Page
Report of the Trustees	1	to	2
Independent Examiner's Report		3
Statement of Financial Activities		4
Balance Sheet		5
Notes to the Financial Statements	6	to	9
Detailed Statement of Financial Activities		10

Najat Foundation

Report of the Trustees
for the Year Ended 31 December 2021

The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of 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 Objectives and aims The objects of the charity are:

To promote the benefit of people in bangladesh, in particular but not exclusively orphans and the poor by:

1) the advancement of education, training and employment opportunities;
2) the relief of poverty, sickness and distress;
3) the promotion of good health and health education; and

4) any such other purposes deemed charitable by the law of england and wales as the trustees shall from time to time determine

Management and administration

The charity is organised with a committee elected by the members to oversee the overall activities. The charity has appointed trustees. The trustees are the people responsible for controlling the work, management and administration of the charity on behalf of its beneficiaries. The names of trustees are declared when a charity is first registered. The trustees are responsible for keeping the list up to date and may do this by updating their details online as it happens, using their Annual Return, or for charities with income below £10,000, by using their Annual Update.

One member is nominated as a chairperson to monitor the day to day operation of the charity.

Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the year.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

During the year the charity continued to collect donations from the members of public. During the period charity received total donations of £66,186 and sent £75,730 to Bangladesh which help to run day to day activities of Najat Islami Markaz. Money sent from the donations received from UK used to buy food, clothing and providing medical assistance to orphan and poor children.

FINANCIAL REVIEW

The financial statements are set out on pages 4 to 9 have been prepared in accordance with the Charities SORP (FRS 102) '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 2015)

The Statement of Financial Activities show net deficit for the year of a revenue nature of £10,264 and net realised incoming resources of a capital nature of £Nil , making net overall deficit of £10,264. The total reserves at the year end after accounting for unrealised (losses) /after revaluing investments of £2.859. Free unrestricted liquid reserves amounted to £2,859.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Risk management

The trustees have a duty to identify and review the risks to which the Charitycharity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Page 1

Najat Foundation

Report of the Trustees
for the Year Ended 31 December 2021

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1133459

Principal address 259 Whitechapel Road London E1 1DB

Trustees

S A Hamidi B Haque A Z Zaman

Independent Examiner

ACN Accountants Chartered Certified Accountants 41 Orsett Road Grays Essex RM17 5DS

Approved by order of the board of trustees on 31 October 2022 and signed on its behalf by:

S A Hamidi - Trustee

Page 2

Independent Examiner's Report to the Trustees of
Najat Foundation

Independent examiner's report to the trustees of Najat Foundation

I report to the charity trustees on my examination of the accounts of Najat Foundation (the Trust) for the year ended 31 December 2021.

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 Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
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.

Anwar F Chowdhury FCCA ACCA ACN Accountants Chartered Certified Accountants 41 Orsett Road Grays Essex RM17 5DS

31 October 2022

Page 3

`Najat Foundation`

Statement of Financial Activities
for the Year Ended 31 December 2021

		31.12.21	31.12.20
		`Unrestricted`	`Total`
		`fund`	`funds`
	Notes	£	£
INCOME AND ENDOWMENTS FROM
Donations and legacies		66,186	57,490
EXPENDITURE ON
Raising funds		-	960
Charitable activities
International Donations		75,730	49,521
Other		720	1,580
Total		76,450	52,061
NET INCOME/(EXPENDITURE)		(10,264)	5,429
RECONCILIATION OF FUNDS
Total funds brought forward		13,123	7,694
TOTAL FUNDS CARRIED FORWARD		2,859	13,123

The notes form part of these financial statements

Page 4

Najat Foundation

Balance Sheet
31 December 2021

		31.12.21	31.12.20
		`Unrestricted`	`Total`
		`fund`	`funds`
	Notes	£	£
CURRENT ASSETS
Cash at bank		4,179	13,723
CREDITORS
Amounts falling due within one year	4	(1,320)	(600)
NET CURRENT ASSETS		2,859	13,123
TOTAL ASSETS LESS CURRENT
LIABILITIES		2,859	13,123
NET ASSETS		2,859	13,123
FUNDS	5
Unrestricted funds		2,859	13,123
TOTAL FUNDS		2,859	13,123

The financial statements were approved by the Board of Trustees and authorised for issue on 31 October 2022 and were signed on its behalf by:

S A Hamidi - Trustee

The notes form part of these financial statements

Page 5

Najat Foundation
Notes to the Financial Statements
for the Year Ended 31 December 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.

continued...

Page 6

Najat Foundation

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

				`Unrestricted`
				`fund`
				£
	INCOME AND ENDOWMENTS FROM
	Donations and legacies			57,490
	EXPENDITURE ON
	Raising funds			960
	Charitable activities
	International Donations			49,521
	Other			1,580
	Total			52,061
	NET INCOME			5,429
	RECONCILIATION OF FUNDS
	Total funds brought forward			7,694
	TOTAL FUNDS CARRIED FORWARD			13,123
4.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			31.12.21	31.12.20
			£	£
	Other creditors		1,320	600
5.	MOVEMENT IN FUNDS
			`Net`
			`movement`	`At`
	`At`	`1.1.21`	`in funds`	`31.12.21`
		£	£	£
	Unrestricted funds
	General fund	13,123	(10,264)	2,859
	TOTAL FUNDS	13,123	(10,264)	2,859
	Net movement in funds, included in the above are as follows:
	`Incoming`		`Resources`	`Movement`
	`resources`		`expended`	`in funds`
		£	£	£
	Unrestricted funds
	General fund	66,186	(76,450)	(10,264)
	TOTAL FUNDS	66,186	(76,450)	(10,264)

continued...

Page 7

Najat Foundation

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

5. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

`At` Unrestricted funds General fund TOTAL FUNDS	`Net` `movement` `At` `1.1.20` `in funds` `31.12.20` £ £ £ 7,694 5,429 13,123 7,694 5,429 13,123

Comparative net movement in funds, included in the above are as follows:

	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	£	£	£
Unrestricted funds
General fund	57,490	(52,061)	5,429
TOTAL FUNDS	57,490	(52,061)	5,429

A current year 12 months and prior year 12 months combined position is as follows:

		`Net`
		`movement`	`At`
	`At 1.1.20`	`in funds`	`31.12.21`
	£	£	£
Unrestricted funds
General fund	7,694	(4,835)	2,859
TOTAL FUNDS	7,694	(4,835)	2,859

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	£	£	£
Unrestricted funds
General fund	123,676	(128,511)	(4,835)
TOTAL FUNDS	123,676	(128,511)	(4,835)

continued...

Page 8

Najat Foundation

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

6. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2021.

Page 9

`Najat Foundation`
`Detailed Statement of Financial Activities`
`for the Year Ended 31 December 2021`
	31.12.21	31.12.20
	`£`	`£`
INCOME AND ENDOWMENTS
Donations and legacies
Donations	66,186	57,490
Total incoming resources	66,186	57,490
EXPENDITURE
Other trading activities
Advertisement	-	960
Charitable activities
Grants to charitable projects	75,730	49,521
Support costs
Management
Postage and stationery	-	300
Other
Travel expenses	-	680
Governance costs
Accountancy and legal fees	720	600
Total resources expended	76,450	52,061
Net (expenditure)/income	(10,264)	5,429

This page does not form part of the statutory financial statements

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