##
|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|