Docusign Envelope ID: 0F42BA7B-9424-4DFF-B44D-8365AEEC60EB ``` REGISTERED COMPANY NUMBER: 04972133 (England and Wales) REGISTERED CHARITY NUMBER: 1139464 ``` ``` Strategic Report, Report of the Trustees and ``` ``` Unaudited Financial Statements for the Year Ended 30th November 2023 ``` ``` for Doostan ``` ``` NYC Business Mentors, Chartered Accountants 19 Whittle Drive Bedfordshire SG18 8GF ``` Docusign Envelope ID: 0F42BA7B-9424-4DFF-B44D-8365AEEC60EB ## **`Doostan`** ``` Contents of the Financial Statements for the Year Ended 30th November 2023 ``` **----- Start of picture text -----**
Page
Strategic Report 1
Report of the Trustees 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Statement of Financial Position 5
Notes to the Financial Statements 6 to 10
Detailed Statement of Financial Activities 11
**----- End of picture text -----**
Docusign Envelope ID: 0F42BA7B-9424-4DFF-B44D-8365AEEC60EB ## **`Doostan`** ## **`Strategic Report`** ``` for the Year Ended 30th November 2023 ``` ``` The trustees present their strategic report for the year ended 30th November 2023. ``` ## `Objective` ``` Promotionoftheeducation(includingsocialandphysicaltraining)ofchildren&youngadultsindevelopingcountriesincluding the construction, repair and maintenance of buildings and related facilities necessary for their education. ``` ## `Achievements and Performance` ``` - Focus was on completionof the renovationwork on the Doostanbuilding,so that we can start generatingrevenue from the 5 flats and the retail unit. To achieve this, Doostan needed additional financing which was raised privately. ``` 30-Sep-2024 ``` Approved by order of the board of trustees on ............................................. and signed on its behalf by: ``` `................................................................................. Trustee` Nasser Bonakdarian ``` Page 1 ``` Docusign Envelope ID: 0F42BA7B-9424-4DFF-B44D-8365AEEC60EB ``` Report of the Trustees for the Year Ended 30th November 2023 ``` ## **`Doostan`** ``` ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreportwiththe financial statementsofthecharityfortheyearended30thNovember2023.ThetrusteeshaveadoptedtheprovisionsofAccounting and ReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewith the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ``` ## **`Structure, governance and management Governing document`** ``` The charityis controlledby its governingdocument,a deed of trust, and constitutesa limited company,limited by guarantee,as defined by the Companies Act 2006. ``` ## **`Reference and administrative details`** ## **`Registered Company number`** ``` 04972133 (England and Wales) ``` ``` Registered Charity number 1139464 ``` ``` Registered office 77 Southway London N20 8DE ``` ``` Trustees N Bonakdarian M Asadi A Nili A Mansour ``` ``` Company Secretary N Bonakdarian ``` ## **`Independent Examiner`** `NYC Business Mentors, Chartered Accountants 19 Whittle Drive Bedfordshire SG18 8GF` 30-Sep-2024 `Approved by order of the board of trustees on ............................................. and signed on its behalf by:` ``` ................................................................................. Trustee ``` ``` Page 2 ``` Docusign Envelope ID: 0F42BA7B-9424-4DFF-B44D-8365AEEC60EB ## **`Independent Examiner's Report to the Trustees of Doostan`** ## **`Independent examiner's report to the trustees of Doostan ('the Company')`** ``` I report to the charity trustees on my examination of the accounts of the Company for the year ended 30th November 2023. ``` ## **`Responsibilities and basis of report`** ``` Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)youareresponsiblefor the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). ``` ``` Havingsatisfiedmyselfthat the accountsof the Companyare not requiredto be auditedunder Part16 of the 2006 Act and are eligible forindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccountsascarriedoutunderSection145of the CharitiesAct2011('the2011Act').IncarryingoutmyexaminationIhavefollowedtheDirectionsgivenbytheCharity Commission under Section 145(5) (b) of the 2011 Act. ``` ## **`Independent examiner's statement`** ``` I havecompletedmy examination.I confirmthatno mattershavecometo my attentionin connectionwiththe examinationgiving me cause to believe: ``` `1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or` `2. the accounts do not accord with those records; or` `3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or` `4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).` ``` I havenoconcernsandhavecomeacrossnoothermattersin connectionwiththeexaminationtowhichattentionshouldbe drawn in this report in order to enable a proper understanding of the accounts to be reached. ``` ``` Nadeem Chundrigar ``` ``` NYC Business Mentors, Chartered Accountants ``` `19 Whittle Drive Bedfordshire SG18 8GF` 30-Sep-2024 `Date: .............................................` ``` Page 3 ``` Docusign Envelope ID: 0F42BA7B-9424-4DFF-B44D-8365AEEC60EB ## **`Doostan`** ## **`Statement of Financial Activities`** ## **`for the Year Ended 30th November 2023`** |**`Notes`**
**`Income and endowments from`**
`Donations and legacies`
`Investment income`
`2`
**`Total`**
**`Expenditure on`**
`Raising funds`
`3`
`Property Rental Expenses`
**`Total`**
**`NET INCOME/(EXPENDITURE)`**
**`Reconciliation of funds`**
`Total funds brought forward`
**`Total funds carried forward`**|**`30/11/23`**
**`Unrestricted`**
**`fund`**
**`£`**
**`18,708`**
**`83,412`**
**`102,120`**
**`2,088`**
**`53,605`**
**`55,693`**
**`46,427`**
**`1,873,544`**
**`1,919,971`**|**`30/11/22`**
**`Total`**
**`funds`**
**`£`**
`1,863`
`1,481`| |---|---|---| |||`3,344`| |||`2,157`
`8,532`| |||`10,689`| |||`(7,345)`
`1,880,889`| |||`1,873,544`| ``` The notes form part of these financial statements ``` ``` Page 4 ``` Docusign Envelope ID: 0F42BA7B-9424-4DFF-B44D-8365AEEC60EB ## **`Doostan`** ## **`Statement of Financial Position`** ``` 30th November 2023 ``` |**`Notes`**
**`Fixed assets`**
`Investment property`
`6`
**`Current assets`**
`Cash at bank`
**`Creditors`**
`Amounts falling due within one year`
`7`
**`Net current assets`**
**`Total assets less current liabilities`**
**`Creditors`**
`Amounts falling due after more than one year`
`8`
**`NET ASSETS`**
**`Funds`**
`10`
`Unrestricted funds`
**`Total funds`**|**`30/11/23`**
**`Unrestricted`**
**`fund`**
**`£`**
**`2,146,931`**
**`35,920`**
**`(12,369)`**
**`23,551`**
**`2,170,482`**
**`(250,511)`**
**`1,919,971`**
**`1,919,971`**
**`1,919,971`**|**`30/11/22`**
**`Total`**
**`funds`**
**`£`**
`1,965,915`
`59,418`
`(151,789)`| |---|---|---| |||`(92,371)`| |||`1,873,544`
`-`| |||`1,873,544`| |||`1,873,544`| |||`1,873,544`| ``` ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006fortheyear ended 30th November 2023. ``` ``` Themembershavenotrequiredthe companyto obtainan auditofits financialstatementsforthe yearended30thNovember2023 in accordance with Section 476 of the Companies Act 2006. ``` ``` The trustees acknowledge their responsibilities for ``` ``` (a)ensuringthatthecharitablecompanykeepsaccountingrecordsthatcomplywithSections386and387oftheCompanies Act 2006 and ``` ``` (b)preparingfinancialstatementswhichgive a true and fair viewof the stateof affairsof the charitablecompanyas at the end of each financialyear and of its surplusor deficitfor each financialyear in accordancewiththe requirementsof Sections394 and 395andwhichotherwisecomplywiththerequirementsoftheCompaniesAct2006relatingtofinancialstatements,sofar as applicable to the charitable company. ``` ``` Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitablecompaniessubjectto the small companies regime. ``` 30-Sep-2024 ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon.............................................and were signed on its behalf by: ``` `............................................. Trustee` Nasser Bonakdarian ``` The notes form part of these financial statements ``` ``` Page 5 ``` Docusign Envelope ID: 0F42BA7B-9424-4DFF-B44D-8365AEEC60EB ``` Notes to the Financial Statements for the Year Ended 30th November 2023 ``` ## **`Doostan`** ## **`1. Accounting policies`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,havebeenprepared in accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:StatementofRecommended Practice applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUK and RepublicofIreland(FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard applicablein the UK and Republicof Ireland'and the CompaniesAct 2006.The financialstatementshave been prepared under the historical cost convention. ``` ## **`Income`** ``` All income is recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the funds, it is probable that the income will be received and the amount can be measured reliably. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommittingthecharityto that expenditure,it is probablethat a transferof economicbenefitswill be requiredin settlementand the amountof the obligation canbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadings that aggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingstheyhave been allocated to activities on a basis consistent with the use of resources. ``` ## **`Investment property`** ``` Investmentpropertyisshownatmostrecentvaluation.Anyaggregatesurplusordeficitarisingfromchangesinfairvalue is recognised in the Statement of Financial Activities. ``` ## **`Taxation`** ``` The charity is exempt from corporation tax on its charitable activities. ``` ## **`Fund accounting`** ``` Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. ``` ``` Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity.Restrictionsarise 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.`**|**`Investment income`**||| |---|---|---|---| |||**`30/11/23`**|**`30/11/22`**| |||**`£`**|**`£`**| ||`Rents received`|**`83,337`**|`1,402`| ||`Bank deposit interest received`|**`75`**|`79`| |||**`83,412`**|`1,481`| ``` continued... ``` ``` Page 6 ``` Docusign Envelope ID: 0F42BA7B-9424-4DFF-B44D-8365AEEC60EB ## **`Doostan`** ``` Notes to the Financial Statements - continued for the Year Ended 30th November 2023 ``` ## **`3. Raising funds`** ## **`Raising donations and legacies`** |**`Raising donations and legacies`**||| |---|---|---| ||**`30/11/23`**|**`30/11/22`**| ||**`£`**|**`£`**| |`Support costs`|**`2,088`**|`2,157`| ## **`4. Trustees' remuneration and benefits`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended30thNovember2023norfortheyear ended 30th November 2022. ``` ## **`Trustees' expenses`** ``` There were no trustees' expenses paid for the year ended 30th November 2023 nor for the year ended 30th November 2022. ``` ## **`5. Comparatives for the statement of financial activities`** |**`Comparatives for the statement of financial activities`**|| |---|---| ||**`Unrestricted`**| ||**`fund`**| ||**`£`**| |**`Income and endowments from`**|| |`Donations and legacies`|`1,863`| |`Investment income`|`1,481`| |**`Total`**|`3,344`| |**`Expenditure on`**|| |`Raising funds`|`2,157`| |`Property Rental Expenses`|`8,532`| |**`Total`**|`10,689`| |**`NET INCOME/(EXPENDITURE)`**|`(7,345)`| |**`Reconciliation of funds`**|| |`Total funds brought forward`|`1,880,889`| |**`Total funds carried forward`**|`1,873,544`| ``` continued... ``` ``` Page 7 ``` Docusign Envelope ID: 0F42BA7B-9424-4DFF-B44D-8365AEEC60EB ## **`Doostan`** ## **`Notes to the Financial Statements - continued for the Year Ended 30th November 2023`** |**`6.`**
**`Investment property`**
**`Fair value`**
`At 1st December 2022`
`Additions`
`At 30th November 2023`
**`Net book value`**
`At 30th November 2023`
`At 30th November 2022`
**`7.`**
**`Creditors: amounts falling due within one year`**
**`30/11/23`**
**`£`**
`Bank loans and overdrafts (see note 9)`
**`-`**
`Trade creditors`
**`(1)`**
`Other creditors`
**`10,800`**
`Accruals and deferred income`
**`1,570`**
**`12,369`**
**`8.`**
**`Creditors: amounts falling due after more than one year`**
**`30/11/23`**
**`£`**
`Bank loans (see note 9)`
**`250,511`**
**`9.`**
**`Loans`**
`An analysis of the maturity of loans is given below:`
**`30/11/23`**
**`£`**
`Amounts falling due within one year on demand:`
`Bank overdrafts`
**`-`**
`Bank loans`
**`-`**
**`-`**
`Amounts falling due between two and five years:`
`Bank loans - 2-5 years`
**`250,511`**|**`£`**
**`1,965,915`**
**`181,016`**|**`£`**
**`1,965,915`**
**`181,016`**| |---|---|---| ||**`2,146,931`**|| ||**`2,146,931`**|| ||`1,965,915`|| ||**`30/11/22`**
**`£`**
`150,702`
`-`
`-`
`1,087`
`151,789`
**`30/11/22`**
**`£`**
`-`
**`30/11/22`**
**`£`**
`702`
`150,000`
`150,702`
`-`|| |||`150,702`| |||`-`| ``` continued... ``` ``` Page 8 ``` Docusign Envelope ID: 0F42BA7B-9424-4DFF-B44D-8365AEEC60EB ## **`Doostan`** ``` Notes to the Financial Statements - continued for the Year Ended 30th November 2023 ``` ## **`10. Movement in funds`** |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**
`Net movement in funds, included in the above are as follows:`
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**
**`Comparatives for movement in funds`**
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**
`Comparative net movement in funds, included in the above are as follows:`
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|**`At`**
**`1/12/22`**
**`£`**
**`1,873,544`**
**`1,873,544`**
**`Incoming`**
**`resources`**
**`£`**
**`102,120`**
**`102,120`**
**`At`**
**`1/12/21`**
**`£`**
`1,880,889`
`1,880,889`
**`Incoming`**
**`resources`**
**`£`**
`3,344`
`3,344`|**`Net`**
**`movement`**
**`in funds`**
**`£`**
**`46,427`**
**`46,427`**
**`Resources`**
**`expended`**
**`£`**
**`(55,693)`**
**`(55,693)`**
**`Net`**
**`movement`**
**`in funds`**
**`£`**
`(7,345)`
`(7,345)`
**`Resources`**
**`expended`**
**`£`**
`(10,689)`
`(10,689)`|**`At`**
**`30/11/23`**
**`£`**
**`1,919,971`**
**`1,919,971`**
**`Movement`**
**`in funds`**
**`£`**
**`46,427`**
**`46,427`**
**`At`**
**`30/11/22`**
**`£`**
`1,873,544`
`1,873,544`
**`Movement`**
**`in funds`**
**`£`**
`(7,345)`
`(7,345)`| |---|---|---|---| ``` continued... ``` ``` Page 9 ``` Docusign Envelope ID: 0F42BA7B-9424-4DFF-B44D-8365AEEC60EB ## **`Doostan`** ``` Notes to the Financial Statements - continued for the Year Ended 30th November 2023 ``` ## **`10. Movement in funds - continued`** ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|**`At`**
**`1/12/21`**
**`£`**
`1,880,889`
`1,880,889`|**`Net`**
**`movement`**
**`in funds`**
**`£`**
`39,082`
`39,082`|**`At`**
**`30/11/23`**
**`£`**
`1,919,971`| |---|---|---|---| ||||`1,919,971`| ``` A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|**`Incoming`**
**`Resources`**
**`Movement`**
**`resources`**
**`expended`**
**`in funds`**
**`£`**
**`£`**
**`£`**
`105,464`
`(66,382)`
`39,082`
`105,464`
`(66,382)`
`39,082`|**`Incoming`**
**`Resources`**
**`Movement`**
**`resources`**
**`expended`**
**`in funds`**
**`£`**
**`£`**
**`£`**
`105,464`
`(66,382)`
`39,082`
`105,464`
`(66,382)`
`39,082`| |---|---|---| |||`39,082`| ## **`11. Related party disclosures`** ``` Mr Alireza Nili, a foundingtrustee and director,was paid a total of £25,070for projectmanagingthe renovationof the property atVictoriaduringtheyearended30Nov2023.Consult2 BuildLtd,a companyofwhichMrNiliisa directorand shareholder, was paid £23,791 for property development work to Doostan's investment property. ``` ``` Page 10 ``` Docusign Envelope ID: 0F42BA7B-9424-4DFF-B44D-8365AEEC60EB ## **`Doostan`** ## **`Detailed Statement of Financial Activities`** ## **`for the Year Ended 30th November 2023`** ||**`30/11/23`**|**`30/11/22`**| |---|---|---| ||**`£`**|**`£`**| |**`Income and endowments`**||| |**`Donations and legacies`**||| |`Donations and gifts`|**`18,708`**|`1,863`| |**`Investment income`**||| |`Rents received`|**`83,337`**|`1,402`| |`Bank deposit interest received`|**`75`**|`79`| ||**`83,412`**|`1,481`| |**`Total incoming resources`**|**`102,120`**|`3,344`| |**`Expenditure`**||| |**`Property Rental Expenses`**||| |`Rates and Water`|**`1,615`**|`2,579`| |`Insurance`|**`3,383`**|`3,664`| |`Property repairs`|**`3,138`**|`-`| |`Legal fees`|**`1,815`**|`2,289`| |`Bank loan interest`|**`23,000`**|`-`| |`Property Cost`|**`20,654`**|`-`| ||**`53,605`**|`8,532`| |**`Support costs`**||| |**`Finance`**||| |`Bank charges`|**`85`**|`146`| |**`Governance costs`**||| |`Sundries`|**`-`**|`146`| |`Accountancy and legal fees`|**`1,570`**|`1,087`| |`Travel and subsistence`|**`20`**|`-`| |`Subscriptions`|**`413`**|`518`| |`Advertising`|**`-`**|`140`| |`Storage costs`|**`-`**|`120`| ||**`2,003`**|`2,011`| |`Total resources expended`|**`55,693`**|`10,689`| |**`Net income/(expenditure)`**|**`46,427`**|`(7,345)`| ``` This page does not form part of the statutory financial statements ``` ``` Page 11 ```