Regi8tsYed number.. 07316170 Ch*Tr4ty numb•r. 1137700 BRrrisH PAKISTAN FOUNOATION FOR DEVELOPMENT UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2023
BRITISH PAKISTAN FOUNOATION FOR DEVELOPMENT IA Compwny Llmlt•d by Gu•rant8•1 CONTENTS Pag8 R•f•rnnc• and Admin1#tr Dots11$ ot th• Company. Its Trusts•¥ and Advi•• TN*t•' Report Truat•eb' R•4pDnilbllltl•8 St#t•m•nt Independent Exaffllngrf• R•port 8t•t•m•nt of Fln•ncl•l Actlvitl•• In¢om• Ind Exp•ndltur• Account Balanc• 8h••t Not•• to th• Flnlnclil StAtsm•nt• 10-16
BRITISH PAKISTAN FOUNDATION FOR DEVELOPMENT IA¢ompany Llmit•d tsy Guarants*l REFERENCE AND ADMINISTPATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THe YEAR ENOEO 31 OECEM8eR 2023 A Rangt8{a Iresigned 1S July 20241 Dr N Amln Z Shah FAII Dr S La1 lappoinled 27 Juty 20231 M Qaisar (appoint 4 July 20231 A Shaikh lappoinled 22 November 20231 A Toru lappointed 22 Novèmbgr 20231 R 8halti Irolianed 7 March 20241 S MalSk (resigned 4 Septamber 20231 Comp•ny regS•toi•d nufflb•r 07318170 Ch4rlty r•ght•rnd nUfflr 1137700 Regl•t•r•d offlc• Quaen Anne Manw¢MI, 86.87 Wimpol• Str•el, London, W1G9RL Chi•f •x•cutlv• offl¢•r Dr N Amin Page I
8RITISH PAKISTAN FOUNDATION FOR DEVELOPMENT IA C+)mpany Umltsd by Guarantsel TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Irustees present their 8nnual ioport and financial slal8menls for the ye&r ended 31 Oec*ntseT 2023. The aoUnt5 have b¢en prepar8d in xc¢id8nce bwth the accounting policies set out In note 1 to the accoun15 and cornply wlh Ihe Ch9 Trust Deed. the Compani88 Act 2006 and A¢eounting and Reporting by Chadll¢8". Slalemenl of Recernmended Practice appllcable to Gharilie$ prep4rlryJ their accounts in accordance wilh th¢ Financkgl Peporting Slandard applicable in the UK and Republic of Ireland IFRS 1021. las amended for aeeounling period$ comrnencina from 1 January 20161. Chjrbty Ml••lon To eng89e. unSte and empower Ihe UK'S mor8 than 1.5 million BriliBh PakIStls, by brin9ing thém totr. giving Ihèm a vou, and supporting thelr Bocio-•wnomic developmonl. Our Vl•lon To create a platform Ihal serye? and protects the be81 intero8t$ ol th• BrltS$h PakIStar eommunlty. Obl•¢tlve• Ind actlvltl Founded wi 2010, wo are Londen-ba$ed, nol-lor-profit. Secular. and non.partisan. We fun progrAnwn•$ n49nwlde in partn¢iship with local Community, building organizalions working for Ihe 8AME communily. While b00511ng communily bullding. the BPF also •cl$ as a liaison befvffjan the diJ$pora and government41 and nongovernrnenial organisation$ in both tbe UK and Paki$18n. Vve h8v8 been actively worklng to expand our plallorm wilh Ihe kind 5UPPOrt of our Boafd. Palrons and M•mbern. Achl•v•m•nts and p•rform4nc• A114Youth PArtn•rshlp The BPF partnered with AIMYtyJlh as pgrt ol an oulrea¢h inltialive lor Ihtr Aspire programme enatylin9 U5 10 reach th• youth In Rochdalo We have fjlre8dy members of Ihi$ programme who hav8 begun Iheir Mentortng with u$. The obie¢lives of A114Youlh locus around keeping the youth ofl Ihe JIrls, helping create sale 5pa¢e$ for th? youth lo gain independence, make nev4 friend5, builtl Iheir eonfidence, g¥in new skills and much more. W& plan lo continue our work with Ihe A114Youlh to ensure a8 many young Indiylduals benefit from our programme$ Ilke Aspire, A•plro Mgntor•hlp Programm• 391 Mtrntees and Menlors slgned up an the platform.. 254 m•nlors and 137 mentees. 34 Mentees hgve been efther malch•d. started rnenloring or compleled their progr8mme slnce wt fiisl $18rted Ihe Aspire programrne. In total the Aspire progromme has generated over E12k ol firsl-oréer so¢Jal valuè lol the British P8klslanl cornmunily. nol counllng the p80pb who ha¥e gol Into full lime job5. or PhD progTammg$, or rnDre. For cohort 2 we hav• a rnorg arnbillou$ laFg to ¢omplele 130 Menlee5 matches by tho end ol yaar. Eld In lh8 Square continue5 lo be 8 great Su885 Ihis year resulled in over 150 newsleller up$. We h3¥e several eXcIn9 ev8nl$ and partner$hip5 taryeted al Dur dernegraphic including an e¥#nt on finarte• al Detoittè, In lalks wlth Mw Sheikh to h05t an event on media and 811¥8 arts. eniyoo's succè$s and vislbilily has ltrd 10 them winning Nutional Lotitrry funding in addition lo their lead5 ¢r•¥ling partnership opportunllieg. lor example with the Bu5ines& Launthpod's Young and Gifted progr8mmo. Oeloitte's Muslim Nebvork 8nd Wand6worth's S¢clal Levellin9 up commuThty fund. We are al a ¢rucial polnt in th& progr8mrne where we have several excitin9 opportunilie¥ lo execu18 afi¢J the start of the academi¢ y¢ar where focu8 turn5 to programme8 like our5. Eld In th• Squave 'd in th8 Square al Trafalgar Square logk place in London with an exc1ll array of aclivibes aThJ bDolhs. BPF Set up a booth lo engage with the c(tmrnunity about our work and prcmte the Aspire mentorship programme th team Mentyoo. P8ge 2
BRITISH PAKISTAN FOUNDATION FOR DEVELOPMENT IA Company Limited by Guarant9•1 TRUSTEES, REPORT ICONTINiJEDI FOR THE YEAR ENDED 31 DECEMBER 2023 The whole day wa$ spent Inleraciing with curious mefflr5 of the community. young and old. answering all their questions aboui BPF and Aspire. Wè had over 200 slgnups for the Aspirg Mentorship PrOgrarI&. and rrore with our newsleiier lollowing the event. The Legacy ProJ•ct. Honourin9 our Proh¢( Pl*ntin9 our FUr¢ Post the launch a1 81 the Pakt8lan High Cornmi88ion, Ihe was lo host sevtral fiJndraislng events sn collaboration wth programme partnw5. Bul after the devaslaling floods In P8ki$lan, the comfflunily locus shifted lo fundfaising for nood reliel ond the Executive Commltlee lor The Leg8cy Projeci decided IhÈi11 was bes110 not push the proj8cI 38 wè would not b2 able lo compete with fundraisin9 lor flood relief 8nd would also seem lo be In poor la51e. We collBborated wilh UKMAP and APWA. who held Flood Fundraising evén18 81 PHC. and contribuled a share ol the profits wllh tho Legacy Projeci ro$vlling in Ihe spons¢y$hip of E2.02S. W• used our Pfolecl lo highlight the Impac¢ of clirnaie change on the Flood5 in Pakl$lan. whil? str•¥$ing tha importance ol more green Inilialives like ours. While overall tree sponsorship numbers have been far from expeclaiion$, we have managed 10 creaio 5ponsor5hip worth £31.575. with further £3.750 p18dged. The $ale$ lo d8le have enabled u5 to r•coup the Initial Inv$$imenl In mtrrch8ndising and w& have now b••n 8blt lo repay Ihe loan we received from Flangoonwala Foundation 10 gel Ihis proiecl off Ihe ground. Sales lo dal? hav? also en8blgd us to etsver the séeond banche ol our paymènt lo Nallen81 Trust lo pay lor a furth8T 3.375 1£16,8751 tre•8. We have already paid lor 7SO1£3,7501 trea# 81 Ihe limts w? Svaned Ihe agreemenl with Naiional Truat. Alihough thè payment for the second Ir8nche was du8 in 88ily October. they have been undersianding the silualion regarding donor laiigue due lo thtr floo¢s in PBki918n. Th•s laktrs u$ lo a lolal number ol 1¥8?s planled lo 4,125. wllh Ihe alrn ol r¢aehing our larggl of 7500 in Ihe coming months. We relaunched thé fund-raising programme in Fobrtsary 2023 with a Chai Party al the Pa813 High Comrnis$ion In partnership wllh tho Pski$lan So¢lgty where we Interacied the ¢ommunlly and briefed them on way$ Ihey can support tha Legacy Proje¢l, The Event w88 aM¢nded by over 75 gue815 includin9 the Hlgh Commissioner and his wife. Fllm 8cr••nln9 In tglebrats'ng anolher1•8ding wom•n who conslantty shows h•r supporf fer the P8ki$ianl eommunily, The 8riliBh Pakistan Foundation In collaboration with The Ismaili Centre London hosted a $old-oul screening ol Jemima Khan'$ Whai's Lovè Gol lo Do with 11? The $cr&ening was lollowad by an emciling panel discussion with Jemima Khgn (Writer & Producefl Sh&hza(J Youn8$ (Founder & CEO of Muzzl. and Ammara Maqstsod IA$sociale Pfofe$$or in Social Anihropolegy. UCLI and N8$e8m Ji¥r81 IPhD Anthropology $lu(Jenl al LSEI. Moderated by Maribill Qaiser. the panel di$cu$$ion covered Some key Ihemej from the movie Includin9 modem Muslim malchm8king, the complexity of Ihe Brltish Pakisiani id&niily. Ihe evoluiion of the desp larnily unii. and much moro Made possible by Iht team al Studio Canal and Media Hive. the event was he in support al The Le9acy Proja¢l. Int•rvl•w8 Monthly inleryiews were arranged, via 2¢)gm. and shared on our YouTube ¢hannel, 8PF website and oui 80cial med18 plalftsrrns. The per¥onalilies Involved also shared ¢n their own social media. allowino cross-promotion. Res8aich. inlèNiew qutr51ions and vldeo èdiling were done by the BPF leam. Ev•nt• In September 2023. BPF hosted Ihe eveni, 'How to Bak into Financlal and Professional S•rvice$' In collaèJoralion with M8ntyo¢ and Oeloillo Muslim Netyvork. The evenl was organised in coll8boraison with Mentyoo, who are our partner5 foi the Aspiie Mentorship Pfogramme and Deloille IAuslim NeOrk. We opened il up lo 8rilish Muslims, rather than jusl Pakista$. since we were partnenng with DMN. Page 3
BRITISH PAKISTAN FOUNDATION FOR DEVELQPMENT IA Company Umited by Guarant•o1 TRLISTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEM8eR 2023 Th8 panel fèatured.. Wi Almakky.. Global Head ol Payment Solution$ lor Mebilily Sector ai JP Morgan. Sehr A$kari.' Senior Vice Presen1 at Citibank. Khorrorn Hus83in.' Managing Director al Bank of America. 11 was moderale(I by Ibrahim Fefulloo, Ihe C¢-Founder ol Mtrnty, CEO of Menlyoo a)d Head of Fiar ai SluRent$. It Was promoted on BPF'S soci81 rn8dia plarforrn$ Iln?18gr8m, Facebook, Twitter and Linkedlnl in Ihe weeks leading up to the evenl, as well 8$ In our newsleller. We shaied a link lo our Evenlbrile pa90 8ach time promoted the event. As a result. wè had 82 p8ople book IT8e Ilckets. whic m¢ant we w81e at full capacity. We also had over len p8opIg on our waillng list. Dèloltte Musllm Nelvnrk a150 shared Ihe event wilh their nelwork. resulting In 35 Ilckels Ixioked. On Ih? day, Iha tumout was approxim&lely So all6nde, preilominanlly Sludenisfyoung prole88ionals Irorn Pakisiani background. Leaflets regarding the Aspire Mentorship Prograrnme were given lo all att?ndee8 at the end ol Ihe event. sign-up QR codes. Foll¢w4in9 lh8 e¥enl. 18 pgopltr Ji9ned up as menlges and hvo peoplg ¥igned up 88 mentors. Flnancl•l R•vl•w Durin9 the year 8PF rec•iv8d don4llon5 of £93.700 12022.. E58,9891, the mosl synificbrt of whlch ¢omlng frDm ZVM Rangoonwala Foundaiion amounting lo £80.Ol2022.. £30,300). 8PF a&9 ralèed a further £1,910 12022" E3,8351 from programm• and rn8mb8rahip inillalive&. added together Ihis rneanl lotol incom? was £95,61012022. £60.8241. Totol ro8ourco1 eKp•nde4 totall¢d £68.44012022.. £92,549). For every £1 spent ty 8PF.. Charitabl• Actfvibes 94p Gov•rnanc8 Co8t5'. ep Th• Briiigh PiKtan Foundaipon is both • r8gisl&red chsfily and con8tiluled a$ a company limited by qu#rant•e and net havlrg a 8haFa capital. The 8PF 15 gove4nod by tt8 trust ¢Je¢d de¢wNnt submitl•d to the charlly mmi8slon in Jvly 2010. BPF boa(d VO¢e cn nomlnatlons. wh*h are $hDnN$tefl by lead boord rn8mber$ and tho nominati¢8 are sèconded by oll the TruBlees. Approved by order of the members of the board of Trustees and $lgned on Ihelf beh&Y by,. Dr N Amln D81e. Page 4
BRITISH PAKISTAN FOUNDATION FOR DEVELOPMENT IA Company Llmitsd by Guarantee STATEMENT OF TRUSTEES, RESPONSIBILinES FOR THE YEAR ENDEO 310E¢EMBER 2023 The Truslets (who 8re also the di18ctors ol Ihe Comp8ny for the purposes of company lawl are respon$ibl8 lor prtrparing the Trustees. Report and the financial Slal&menls In accoidance with applicable law and United King)m Accounting Standards (United lfjn9dom Generally Acceplad Accounllng Pracllc•l. Company Iw requires the Trustees lo prepare finan¢ial slaiemenls for each finan¢lal Undef CDmp8ny 18w. the Trustees rnusi not approve Ihe financial $131em8nls unltrss Ihey 8re Satlsfied that Ihey give a true and fair view ol the state ol affairs of Ihe Company and of lis incorning resour¢es and Jppli¢aiion of resources. including its in¢om& expendilure. for Ih81 period. In prep8ring these financial ¥taiemenls. tho frusltre$ are requirod to-. select Suitable acCOlIng policies 8nd then apply them consistenity,. obseryd Ihe meihods and prineiples of Ihe Charities SORP IFRS 1021.. mahe judgements accounting esiirnai8s thai are reasona2 and prudent., slate wh8lh&r applicable UK Accounting Standards IFRS 1021 have been followed. suty'e¢t to Any rnat¢rial departures dlsclosed and explained In Ihe financia S131gmenls'. prepare Ihe fin8ncSal s181ement5 on the goinp concern ba$15 unle$8 Ot is In8pprcprlle lo pre&urne that the Company wll coniinue bu51re85. The Trustee5 aré re5pon$ible for k•¢pin9 adequate accouniing records thai a suificiani lo ehw and •xplain the Cornpanys Iransa¢iion$ and dixlose with re8$0nable 8ecur8cy al any limè the finan¢ial position of the Company and enabl& them to ensure Ihal the ffnancial stalemenis etsmply wilh Ihts Cornpanies Aci 2008 They are also re$ponsible lor safe9uarding the assols of the Cornpany ancl hence lor laking reasonatsll $l&pi for th• prevonts.on and del¢cilon ol fraud and olhér 1rr8gularll181. Apwoved by ordor ol th¢ members of th8 board ol Truileei and 519ned on its b•hall by.. Cir N Amln O•t•'. 2r/o?14 Page 5
8RITiSH PAKISTAN FOU14DATION FOR DEVELOPMENT IA Company Llmit8d by Guarantee INDEPENDENT EKWINER'S REPORT FOR THE YEAR ENDED 31 oecEM8ER 2023 lftd•pgndent examln•¢$ Report to the TN$tses of Brltish Pakl•t¥n Foundation Fcr D•¥el¢)pment rth• Comp•ny'l I report lo lh8 charity TTUSte¢s on my exarnknatIc of the accounts of th• Company lor the year ended 31 December 2023. R••ponilbllltl•s and B••ls of R•p¢rt As the Truslees of Ihe CornpBny land ils dlreclor5 for the purpo&tss of eompany you aro responsible lor the pr•parallon of ltte accvJnls In aeldance th the r8quir8menls of the Companies Act 20061.lhe 2006 Act'l. HavSng 88li5fred my#elt th81 thè aeeounls of the Company gr• not fequii•d to be audlled undw Part 16 01 t 2006 Acl and are frligiblo for Indepondent examinalityn, I report in raspecl of my ex#min81ion ol the Componls accoun1$ carrigd out under $ection 145 01 the Charilles Acl 2011 I'lhe 2011 Acl'l. In Trying oul my examinati I have followed the Oirection6 givan by Ihfj Charfty Commission undèi seclion 14SISllbl ol the 2011 Act. Ind•p•nd•nt Ex•mln•l• Stt•m•nt I hovè completed my emornation, I confirm that no maltefS have me lo my 8tt8ntion In connection vlth Ihe èXaMknat0n ging ma lo belkg¥•'. counllng record6 werg not kept in r•sFect of tha Comp8ny as required by sèetlon 386 of the 2(N)6 Act., or th¢ aecoun¢s do not gccord with those ro¢ord5', or the account$ do nol comply wth the accounling requiremenl$ of 58clion 396 of Ibe 20[6 A¢1 other than ally fequlremenl that the account5 give 8 'true and fai¢ v*w which 1$ not a rn•tler con$Klgred ès p8rt of 8Th Indapendenl exarnlnaiion., or Ihe occount5 have not beon preped in accordance th the methods 8nd pAnUe8 ol Ihe Slalernenl of R¢¢ommended Praclice for aceounling and mporting by ch#rllie$ applicable lo charitie8 prtpèring Ihelr acounl8 In 8ccord8n¢• %44th thg Finanual R8Pertin9 Standard 8pplicabie in tho UK and ReputAK of Irtrland IFRS 1021. I hgve no concemB pnd have comtr a¢roJs no olher matlers In connection wilh Ihe oxaminalion to whlch attenlion Should be drawn ITr th'8 report In ordèr lo enable a pioper understandlng of the accounls lo be reache¢J. SwJned". Dated., Mafk N811i9an FCA for and on behaw ol Wellden Tumtryjll Llfflited Cl)rernont Lane Esher Surrey Iff10 9FO Page 6
8RIYISH PAKISTAN FOUNDATION FOR DEVELOPMENT IA company Llmilod by Guarantse} STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 DECEMBER 2023 unr011¢tod lunds 2023 Tolal fund5 2023 Total fu¥ 2022 Note In¢om• from.. t)onalions and le9acie$ 95,810 95,610 80,824 Yotsl In¢om• 95,610 95,610 80,824 ExndItUT* on: charl1ae lettieS 88,422 68,422 92,$49 Tot•1 •xp•ndlturn 68,422 88,422 92,549 N•t rnov•m•nt In lund• 27,188 27,188 131.7251 R•con¢lll•¢lon ollund•'. Totsl lund8 brought forward Nat moY8menl in fund• 117,8811 27.188 117,8611 27,188 13,844 131.72SI Total fund• c•rrl•d f0Thrd g,307 9,307 117,8811 The StaterneTht ol Financial AcfvilieB IncSud85 all g•ln8 and lo$w reeoqnl•ed In th¢ yyw. The notes on pages 1D to 16 form part of the8e financlal sialom•nt8, Page 7
BRITISH PAKISTAN FOUNDATION FOR DEVELOPMENT IA Company Umll•d by Guarant8•) SUMMARY INCOME AND expENOITURE ACCOUNT FOR THE YEAR ENDED 31 DEceMBER 2023 Total fij[6 2023 Total lunds 2022 Gro•• In¢om• In th• r•portlny p•rlod Les8.' Total exp8ndttur 95,810 {68.4221 80,824 1¥2.5491 N•t km•ll?p•ndI1Ur9I lor th• rnportlng p•wlod 27.188 131.7251 The on p•g•s 1D to 16 fr*rm part oflh838 fin8w81 stalem•Dts. P8
BRITISH PAKISTAN FOVNDATION FOR OEVELOPMENT IA Company Llmlted by Guarante•l REGISTERED NUMBER.. 07316170 BALANCÉ SHEET AS AT 31 DECEM8ER 2023 2023 2022 Note Flx•d at$ Curr•nt •••ts Cash at b8nk and in hand 12.4S7 10,119 12,457 10,119 Cr•dllors.' amounts falling du• wlthin one year 13,1501 128.0001 N•t eurr•nt a••g1s I Iliblllt•• 9.307 117.8811 Totsl ••••t• current Il•bllltl•s 9.307 117.8811 Totsl net A8••1• 5,307 117.8811 Ch•rlty fund¥ Restricted fund Unr8strlcted funds 10 io 9.307 117.8811 Tot•1 lund8 9.307 117,8811 The Company was entr'tl¢d lo ex•mption from l11 under s8¢tion 477 of th? Companles Act 20C6. Th8 m•mb8rs hav8 not requir8d Ihe compony to obtain w 8udil for lh¢ year in question in a¢¢ord8nee wmh cli¢rt 476 of Compan8 Act 2C#J6. The Tr¢J8lees adlnowledgts Ihelr r8sponsibililie$ lor )MplyIng with ihe roquiremenls of tha Acl vllh respecl Ic aGcounknng records 8nd prèparalion or rinonclal staiemeni5. The financbl statements have been prepared in aco)rdonce with the pro¥islon8 appIlble to enllll88 subject tg Ihe $mall ¢ornpani85 regim8. The fina181 Slalemenls were approved and authoris8d for i$su8 by the Trusl¢¢8 and signed on Iheir beh8tt by.. DrNAmin Date.. 2s1of li The notes on pag88 10 10 16 form part of Iheaè finandal $lalem8nts. Pa98 9
BRITISH PAKISTAN FOUNDATION FOR DEVELOPMENT IA Company Llmlted by Guaranto91 NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 General Infonnatlon The Brili$h Pakistan Foundation Is 8 1vate Company ¥mited by guarantee incorporaleé in England and Wale5, rags$tr31ion number 07316170, ¢harily number 1137700, fe9l$lered office of Queen Anne Manstons. 86187 Wmpolo Street, London W1G 9RL eountlng poll¢lo 2.1 B••is of prepafOUon of flnanclal •tatom•nt• rh¢ financial 51aiem8nt5 hav8 been prepared in accordance wilh the Chath5e5 SORP IFRS 1021 Accounilng ReportiNJ by Charllles". Slalomenl of Recommended Practice applicable to ¢harltie$ preparln9 Iheir a¢¢ount5 in oecordan¢e with tho Financlal Reporting Slandafrl appli¢abl in the UK and Republk of Ireland IFRS 1021. Ihe Fln8n¢i81 Reporting Slandard applicable in the UK and Republlc ol Ireland IFRS 1Q21 And Ihe Companies Acl 2006. el11 Pakl8ian Foundallon For Developmefit meets tho definItn of a wblir benofil wllty under FRS 102. A53el8 and IiaLx'llties are initlally recognised al hi8toric81 co?t or tran8acli¢n value unle$$ otherwlse Staled in Iho relan1 accounting policy. 2.2 Ooiny ¢onc•rn Th• found8tlon was in 8 nel 08581 posits'on a8 al the talance 8h••t dale. The Iru$l885 have prepaied the financl8181alement$ on a golng concvrn bas1$ whSch mean¥ Ihal the foundatrt will continua to m881 Ils Ilabililiès a they fall due for a p8riod of al 18asl 12 months from the dale of approval ot t rinsndal slaiemenls, In as$8s6ing the going con¢¢rn po6iUan, Ihe Iruslees cite the g•neralion ol income from donalioni $ub&8qu8nl lo th$ peiiod end dale lo allow the loundaiion lo meet tts liabilities as Ihey fall clue. Further, Ihe IrusteÈ8 ato Ihelr orJcing support should it required. On this basis the trustees conslder It appropriat¢ lo Prepa the Fln8ncl81 Sl8lement$ on a going concwn ba$is, 2,3 Incom• I Income Is r•oJgn16ed one& the Cornpany has enllUem8nl lo lh8 income, ft Is probBbl• that the Income %dll b¢ rèc8lved and the amoLmt ol Income rec81vablo can be measured reliably. The recognition ol income from legaci•s Is dependent gn •$iablishing enlillernenl, the prebabillly of T8colpl and Ihè abllily 10 èstlmale wdh 5uffieienl 8ccurg¢y the amounl racèSvab1?. EviLSence of •nlidefflenl to J legacy exists whon Ihe Company has 5uifi¢ienl evld•nce Ihat a gift ha$ beon left to them Ilhrough knowledge of tha exlslencè cf 8 valid will 8nd the de81h of Ibe benefaclorl 8nd Ihe executor 15 5atlsfied Ihal the property in question will nol be required to salijfy claims in lh8 èslale. ReceN)t of 3 legacy must be recognised when it is probable that il will be rec¢ived and Ihe lair ¥alug of the amount r8ceiv8ble. which WIN generally btr the ?xpecled c4sh amount 10 be dlslrlbuled lo lh• Company. Con be reliably rneasured. Granlg are induded In tho Slalernenl of Finoncial Activil& on 8 receivable b88i6. The b81anc• ol income received for speafic purposes but not èxpend8d during the period 1$ shown in Ihe relevanl lunds on the Balance Sheet. Where income is feceived In advance of anlillemenl of r8ceipl. ils reccgnlQ is deferred 8nd includ8d in cr8ditor5 as deferrnd income. Where ntment cKcur$ before incomo i¥ r¥efved, income Is accrued. Page 10
BRITISH PAKISTAN FOUNOATION FOR DEVELOPMENT Company Llmited by Guqrantel NOTE5 TO TPIE FINANCIAL STATEMENTS FOR THE YEAR ENDED J1 DECEMBER 2023 A¢¢tsuntlno polici¢$ IcontSnu8dl 2.4 Expondltur• Expenditure is recogni3ed ance Iheie is a legal or e¢)n5trucllve obligation to Iransfer 8conomic benefrt lo g third party. Il is probable that a Iransfer of econcmic benefrts WWI be required in selllemenl and the amount of Ihe obligation can b& measur8d rèllably. Exp8ndilure Is dassifigd by activily. The CD818 of each aclivity arè made up ol lh8 total of direct CO51$ and 8haied cosls. incjudlng suppart CO515 involved In undertaking 8ach activily. Olrecl co$is allribulable 10 a single 8clivily Hre allocated dIrelY lo Ihal activity Shared c0515 which contribute lo more than onè actlvlly and support costs whith are nol attributable lo a single a¢tivily ara apptsrtioned between those a¢ti¥ilies on a basls consislenl with the u$e of resourc85. Cèntral &laff c0515 are allocalgd on the b8$i$ of lirne $p•nt. and depr¢rAalion charges alloc8led on Ihe portion of the as$el'& u88. Expenditur8 on chanlable aclivit18s 16 Incurred en dirodly undertaking the oclivilie$ whith lurther the Company's objectives. as well 85 any 8$sorialed support costs. Grants payai4e are charged In the yeor whon the offer 1$ mada excepl In Ihosa cases where the offer is condiiltsnal. such grants being recogni5ed as 8XP8nditurè when the condillons altaching are fulllled. Grant$ offer?d Subject to conditions whlch have not b88n met al the year end are noted as commitment, bul nol accrued 88 expenditur6. All expendbtur¢ IB inclu8lve ol irre¢ovéfable VAT. 2.5 C••h Jt bank and In hand Cash al bank and In hand includes c8$h 8nd 5hort-teTm highty liquld investments with a ihart malurlly of Ihree monihs or less Irom the dale of acqui$ilion or opening ol the depos or similar actounl. 2.6 Llabllltl• ind provlKion Liabilities are r8coonised when there is an obllgjlion at Ihe Balance Sheet dale as a r8$utt ol a past eveni. Il IG piobable thai a Iransfer of economic benefit w+ll be rtwired in Sèitlèment. and th8 amount ol th• seiiiemenl can b8 eslimaled rellably. Liabllilie8 a18 r8cognis&d al arnounl Ihal the Company anlicipales il wll pay to settle thè debt or the 8mount it has received as ¥dvanced p8ymenls for the goodg or $8rvicos il musl provide. Provi3ions are m8a$ured at Iht b•$1 esllmale of thé amounts required to Sottle lh• obligation. Where the eflect ol the time value of rnoney 1$ maleri81. the provl$ion is based on ihe pre$enl value of those arnounli, discounted al th¢ pre-tax discount ral8 Ihal ffjlects Ihe risks specific lo the liabillty. The unwinding of the dlscounl is reGognised in Ihe Sl8ttrment of Finanaal Activilley a& a finance cost. 2.7 FlnanGl•l Intrum•n¢s The Campany only h05 financial asse18 and finana81 ligbilities ol a klnd that qualify 88 baslc finanryal inBtruments. Basic financlal instruments are Inilialty recognis8d at Iransadian value and sub$equenNy measured al their Settlernenl value with the exception ol bank loans whth ar• subsequenily m•asured al amorkn'$¢d c051 usiw the eflective inleresl method. 2.8 Fund accounn9 General funds 8re unreslrict8d funds which ar8 8vallable for use al the discrelion of the Trustee5 in furtherance of the general objectives of the Company and whith h8ve not bben dèsigna18d for olher purpo888. Page11
BRITISH PAKISTAN FOUNDATION FOR oevELOPMENT IA Company Llm5t•d by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 0ECEMeeR 2023 Incom• from donatlon8 and le9aci Unrestricted funds 2023 Total funds Z023 DonallonB and legac$ Membershy fees 93,700 1,910 93,700 1.910 95,810 95.810 Unrnstrkted fund 2022 Total funds 2022 Oon8llon8 and Iv9acwg Patrons programme Membership ftei 68.989 1.250 2,S85 56.989 1.250 2,585 80.824 60,824 An4ly•l• ol •xp•ndltur• on Gharltabl• •¢tlvltl•• Summary by fund typo Unreslrlcted ld8 2023 Total 2023 Charflable actl¥It$ 68,422 68.422 Vnrestrided f$ 2022 TotAI 2022 Charilabb aclivtti8$ 92,549 92.$49 Page 12
BRITISH PAKISTAN FOUNDATION FOR DEVELOPMENT IA Gompany Umltod by Guarantael WOTES TO THE FINANCIAL STATEMeNT8 FOR THE YEAR ENDED31 DECEMBER 2023 An*ly•is of •xpendlturo by a¢tlvltl¢• Gt fundin9 of aclwit'es 2023 Suppryt costs Totol lund$ 2023 2023 Chorilable actfvtile8 13,943 54,479 68.422 Grant rundln9 01 Support COBts Total fvnd 2022 2022 2022 Charltmble 8divitse$ 37.605 92,549 AnAlwih of •upport Go•ts Total fundi 2023 Athllie9 2023 Consullancy fees Awounlancy lees Office expenses Other expen8e$ Computer e¥pen$gs 49,153 1.890 1,321 1,386 749 49.153 1.89) 1.321 749 54,479 $4,479 Pagts13
BRITISH PAKISTAN FOUNDATION FOR DEVELOPMENT IA Company Llmlted by Guarante•l NOTE5 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Anatysi8 of •xpendltur• by athltlea l¢ontinu¢dl Analy•l• of support eO818160ntlnu•dl Totsl lunds 2022 Aelivitie$ 2022 Con$ullancy fe•B Accountancy fe88 Office trxpens65 Other 8xp8nS•S 50,301 1,575 2,103 g64 50,301 1,576 2,103 9S4 54,944 54.944 IDd•p•nd•ffl •¥•mln•rf• r•mun•rntlon Th8 ind8pgn#8nl examiner'i reMl¥ra1lon amouTht8 ta an kndepend•nl examlner lao 01 £3.1S012022 . £3.0001. Tru•ts••' r•mun•r•don and •xp•n••• Ourln9 lh• y•ar, no TWIt• rec8lved any remunaralknn or Otr benoflls12022- £NILI. DurSng the year endéd 31 Decemb•r 2023, no Tru8tee havg been inrJJrr•d12022- ENILI. ¢r•dS¢or•.' Amounts lalllng du• wlthln on• y•ar 20Z3 2022 Olher loan8 Accrual8 and defeff•d income 25.0 3,150 3,150 28.ly The loan Irom ZVM R3ngoDllwala Foundalicn was rep81d kn the year. Paye 14
BRITISH PAKISTAN FOUNDATION FOR DEVELOPMENT IA Company Lbmitgd by Guaranto•1 NOTES TO Tme FINANCIAL STATEMENTS FOR TrIE YEAR ENDED 31 DECEMBER 2023 Fln•ncil instrument• 2023 2022 FlnanGlal am•¢• Financial asststs me88ured 41 tsir value Ihrough inceffj• and expandltu 12,457 10.119 Finoncia( 858et$ rn•&ured &t lalr valu• through incomè and exFen¢Jtturn compli88 cash ind c8sh •wlYakgnls. 10. Stat•m•nt of lund• 8t•t•m•nt Of fvnd•- curr•nly•ar BBIBncq al 31 D8camber 2023 B4nce 8t I Jarhuary 2023 Inrn Expendilure Unmtvlct•d lund• General Funds- all fundi 117.8811 95,610 168,4221 9.307 St•l•m•nt of fvnd•- prlor y•ir 8•lane• •1 31 D•cember 2022 Balance $1 1 January Incomè Expendlture Unv•JJtrl¢tsd lund• Ganoral Funds- all fvnds 13,844 60,824 192,5491 117,8811 Page 15
RJTISH PAKISTAN FOUNOATION FOR DEVELOPMENT IA Company Limlt•d ty Guarantsol NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2023 11. An•lysls of not a8$eta between lund• Analyals of asets belween lundD- ¢UTrent year Unreslri¢ted funds 2023 Total lunds 2023 Current ¥$s8ts Credltor¥ wlthin one year 12.457 13.150) 12.457 13,1501 Tot•1 9,307 9.307 Analy•ls of net ••1 b•tsM•n lund•- prfor y•ar Unresirtcled funds 2022 Total funds 2022 Curyent 8$Jel8 Credhor¥ ¢Juo wlthh one year 10,119 128,IX)01 10.119 128,OC#)I Tot•1 117,8811 117.8811 12. CompAny •latrJ8 Th• Company Is a thate Cory8ny limll811 by guarantee and ConsequtlY doe6 have share capital. Each of the Irusiws 18 liable lo contribute an arn1 nol exceedlng E1Q lowardj the asset$ of the Company in the event of liquidation. IJ. Controllrng party Th• Company is hmlt•d by guarant•8 and is Controlled by tho board of trustee8. Page 16