2020-10-31-accounts

Trustees		Mr Fakhruddin T Suterwalla
		Mrs Sakina F Suterwalla
		Mrs Razia R Chinchanwala
		Mrs Femide Mosajee
		Mr Salim F Suterwalla
Auditors		Ward Divecha Ltd
		Chartered Accountants
		and Statutory Auditors
		29Welbeck street
		London
		W1G BDA
Bankers		Habib Bank AG Zurich
		5/7 High Street
		Southall
		Middlesex
		UB1 3HA
Charity address		6 Ingleby Drive
		Harrow on the Hill
		Middlesex
		HA1 3LE
Registered	Charity number	1138949

						2020	2019
			Unrestricted	Restricted		Total	Total
		Notes	Funds	Funds		Funds	Funds
			F		8	6	8
INGOING RESOURCES		5
Incoming resources from generated	funds
(Loss) /prcfit on sale of investments			(1,079,911)			(1,079,911)	451,889
Investment Income			383,115			383,115	215,970
Other income							551
Voluntary gift received			30,000			30.000	1,000,000
Total incoming resources			666,796			666,796	1,668,410
RESOURCES EXPENDED
Cost of generating funds
Exchange Difference			(16,465)			(16,465)	29,080
Interest charges			79,621			79,621	129,210
Charitable activities
Donation to other charities			131,764			131,764	148,183
Governance cost			23,365			23,365	32,095
Total resources expended			218,285			218,285	338,568
NET INCOME FOR THE YEAR			(885,081)			(885,081)	1,329,842
Other recognised gains and losses
Fair value movements Net movement in funds			(32,754) ~97,835			(32,754) ~917,835	202,942 1,532,78
Reconciliation offunds
Total funds brought forward			3,031,768			3,031,768	1,498,984
Total funds carried forward			2,113,933			2,113,933	3,031,768

The Safera Foundation	The Safera Foundation			Registered	charity	no. 1138949
Balance Sheet
as at 31October 2020
						2020	2019
			Unrestricted	Restricted		Total	Total
		Notes	funds f	funds f		Funds f	Fundsf
Fixed assets
Fixed asset investment		s	6,082,439			6,082,439	9,572,327
Current assets
Accrued income			64,080			64,080	53,135
Cash at bank and in hand			89,123			89,123	20,145
			153,203			153,203	73,280
Creditors: amounts	falling
due within one year		4	(4,121,699)			(4,121,699)	(6,613,829)
Net current assets			(3,968,496)			(3,968,496)	(6,540,549)
Total assets less current
liabilities			2,113,943			2,113,943	3,031,778
Net assets			2,113&943			2,113,943	3,031,778
Funds
Unrestncted						2,113,943	3,031,778
Restricted
						2 113,333	3,331 1&3

for the year ended 31O	ctober 2020
			2020	2019
		Notes	6
Cash flows from operating	activities:
Cash generated from operations			(1,197,540)	1,217,095
Interest charges			(79,621)	(129,210)
Net cash provided (used in)/provided by operating activities			~1,277,291	1,087,885
Cash flows from investing	activities:
Purchase ofinvestments				(4,037,829)
Sale ofinvestment			3,457,134
Interest received			383,115	199,905
Dividend received Net cash provided by (used in)				16,065
investing activities			3,840,249	~33.882213,,885599
Cash flows from financing	activities:
New loans in year				2,680,283
Loan repayments in year			(2,494,110)
Net cash (used in)/provided financing activities	by		~2,494.119	2,680,283
Change in cash and cash equivalents
in the reporting period			68,978	(53,691)
Cash and cash equivalents	at the
beginning ofthe reporting	period		20,145	73,836
Cash and cash equivalents	at the end
ofthe reporting period			89,123	20,145

OPERATING ACT1VIT	I	ES
				2020	2019
				E	E
Net( expenditure)/income		forthe reporting	period (as per the
statement offinancial activities)				(917,835)	1,532,784
Adjustments for:
Loss/(gain) on revaluation	of investment			32,754	(202,942)
Finance cost				79,621	129,210
Finance income				(383,115)	(215,970)
(Increase)/in other debtor				(10,945)	(25,987)
Increase in other creditor				1,980
Net cash (used in)/provided		by operating	activities	~1,199,549	1,217,095

Year	ended 31 October 2020
		31.10.20	1.11.19
		E	E
Cash	and cash equivalents	89,123	20,145
Year	ended 31October 2019
		31.1019	1.11.18
		E	E
Cash	and cash equivalents	20,145	73,836

							2020	2019
							8
	Bonds						6,082,300	9,572,327
	The value stated above		is market value at 31	October 2020
4	Creditors: amounts		falling due within
	one year						2020	2019
							8	6
	Bank Loan						4,117,739	6,611,849
	Accruals						3,980	1,980
							4,121,899	6,513,829
	Note: Bank loan is	secured against the investments			held by the charity.
5	Incoming Resources			Unrestricted		Restricted	Total	Total
					Funds	Funds	Funds	Funds
					2020	2020	2020	2019
					8	8	f	8
	Investment Income
	Interestincoine			383,115			383,115	199,905
	Dividend income							16,065
	Total Investment	Income		383,115			383,115	215,970
	Other income							551
	(Loss)/profit on sale ofinvestments			(1,079,911)			(1,079,911)	451,889
	Voluntary giff received				30,000		30,000	1,000,000
	Total incoming	resources		(665,796)			(666,796)	1,668,410
6	Resources expensed			Unrestricted		Restricted	Total	Total
					Funds	Funds	Funds	Funds
					2020	2020	2020	2019
					6	8	6	6
	Cost ofgenerating	funds
	Exchange difference			(16,465)			(16,465)	29,080
	Interest charges				79,621		79,621	129,210
					63,156		63,156	158,290
	Charitable activities
	Donation to other charities			131,764			131,764	148,183
				131,764			131,764	148,183
	Governance cost
	Bank Charges				8,012		8,012	7,118
	Auditors' remuneration				1,980		1,980	1,980
	Broker fee				13,373		13,373	22,998
					23,365		23,365	32,096