Docusign Envelope ID: F5C60C24-6E26-4A59-98EA-04AA2BBADA77
Charity Registration No. 1140659
PENTAID
TRUSTEES' REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024
Docusign Envelope ID: F5C60C24-6E26-4A59-98EA-04AA2BBADA77
PENTAID
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mrs S Raza Dr M M Datoo Dr S H Raza Dr S A Mumtaz
Charity number 1140659 Principal address 19 Bryony Drive Kingsnorth Ashford TN23 3RE Independent examiner Deitch Cooper LLP 1st Floor, 3 Hobbs House Harrovian Business Village Bessborough Road Harrow HA1 3EX
Docusign Envelope ID: F5C60C24-6E26-4A59-98EA-04AA2BBADA77
PENTAID
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the accounts | 7 - 9 |
Docusign Envelope ID: F5C60C24-6E26-4A59-98EA-04AA2BBADA77
PENTAID
TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2024
The Trustees present their report and accounts for the year ended 5 April 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the provisions of the Trust Deed, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008.
Structure, governance and management
The charity was established by a charitable trust deed dated 4 February 2011 and is a registered charity.
The Trustees who served during the year were:
Mrs S Raza Dr M M Datoo Dr S H Raza Dr S A Mumtaz
There must be at least three trustees. Every new trustee must be appointed by a resolution of the Trustees. In selecting individuals for appointment as trustees the Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the charity.
No trustee received any emoluments during the year in respect of services performed nor were any expenses paid on their behalf.
The management and governance of the charity is undertaken by the Trustees.
During the year under review, voluntary donations totalling £2,800 (2023: £1,820) were received from Trustees and close family members. There were no other transactions with Trustees.
Objectives and activities
The charity's objects are to provide aid and financial assistance for the following purposes and there has been no change in these during the year: -
(a) The prevention or relief of poverty anywhere in the world by providing grants, items and services to individuals in need;
(b) The advancement of education for the benefit of the public by the provision of grants, bursaries (or other financial assistance), educational items and materials;
(c) The relief of sickness and the preservation of health by the provision of financial assistance to pay for hospital expenses, medical equipment or supplies.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
- 1 -
Docusign Envelope ID: F5C60C24-6E26-4A59-98EA-04AA2BBADA77
PENTAID
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024
Achievements and performance
During the year the charity's activities included supporting orphans and needy individuals, grant funding of education resources and grants towards relief and welfare projects.
The public benefit provided by the charity is to the relief of poverty, the advancement of education and the relief of sickness. When planning the activities for the year the Trustees have considered the Charity Commission guidance on public benefit.
Financial review
The financial results for the year are contained within the receipts and payments account and notes to the accounts. Net deficit for the year amounted to £12,455 (2023: £34,089 surplus).
Restricted donations were received in respect of the relief of poverty, advancement of education and preservation of health. Restricted donations must only be spent on the charitable activities to which they relate. During the year all restricted donations were spent.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised as voluntary donations and gifts when received and allocated to unrestricted funds.
The trustees consider that the charity's reserves are adequate to meet its day-to-day expenditure and in the even of a shortfall they have access to sufficient resources to meet any deficit. For this reason the trustees do not believe a minimum level of reserves should be maintained.
The trustees have reviewed all the major risks including operational and business risks, which the charity might face including the Covid-19 global pandemic and confirm that they have established systems to mitigate those that are significant. The adequacy of the reserves policy is reviewed annually.
The Trustees consider that the charity has sufficient unrestricted funds and cash at bank to allow it to continue achieving its charitable objectives for at least 12 months from the date of approval of these financial statements.
Unrestricted funds are maintained at levels sufficient to ensure that no restricted fund is in deficit. Unrestricted funds carried forward to forthcoming years amounted to £122,925 (2023: 123,046).
Plans for the future
The Trustees' future plans are to continue the charity's activities of providing grants to assist both individuals and communities.
- 2 -
Docusign Envelope ID: F5C60C24-6E26-4A59-98EA-04AA2BBADA77
PENTAID
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
The law applicable to charities in England and Wales requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the board of Trustees
Dr S H Raza Trustee Dated: 23 July 2024
- 3 -
Docusign Envelope ID: F5C60C24-6E26-4A59-98EA-04AA2BBADA77
PENTAID
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PENTAID
I report on the accounts of the charity for the year ended 5 April 2024, which are set out on pages 5 to 9.
Respective responsibilities of Trustees and examiner
The charity's Trustees are responsible for the preparation of the accounts. The charity's Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
(i) examine the accounts under section 145 of the 2011 Act;
-
(ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
(iii) to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
(a) which gives me reasonable cause to believe that in any material respect the requirements:
-
(i) to keep accounting records in accordance with section 130 of the 2011 Act; and
-
(ii) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act;
-
have not been met; or
-
(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mohamedkazim S Bhaloo, FCCA
Deitch Cooper LLP 1st Floor, 3 Hobbs House Harrovian Business Village Bessborough Road Harrow HA1 3EX
Dated: 23 July 2024
- 4 -
Docusign Envelope ID: F5C60C24-6E26-4A59-98EA-04AA2BBADA77
PENTAID
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024
| Unrestricted Restricted funds funds Notes £ £ Income from: Voluntary receipts 2 69,286 10,460 Expenditure on: 3 Costs of generating funds Costs of generating voluntary receipts 1,689 - Net income available 67,597 10,460 Charitable activities Relief of poverty - 53,528 Preservation of health - 2,021 Advancement of education - 34,963 Total charitable expenditure - 90,512 Total expenditure 1,689 90,512 Net income/(expenditure) for the year 67,597 (80,052) Gross transfers between funds (67,719) 67,719 Net movement in funds (122) (12,333) Fund balances at 6 April 2023 123,047 16,572 Fund balances at 5 April 2024 122,925 4,239 |
Total 2024 £ 79,746 1,689 78,057 53,528 2,021 34,963 90,512 92,201 (12,455) - (12,455) 139,619 127,164 |
Total 2023 £ 78,561 |
|---|---|---|
| 1,014 | ||
| 77,547 24,390 6,515 12,553 |
||
| 43,458 | ||
| 44,472 | ||
| 34,089 - |
||
| 34,089 105,529 |
||
| 139,618 |
- 5 -
Docusign Envelope ID: F5C60C24-6E26-4A59-98EA-04AA2BBADA77
PENTAID
BALANCE SHEET
AS AT 5 APRIL 2024
| Notes Current assets Cash at bank and in hand Total assets less current liabilities Funds of the charity Restricted funds 7 Unrestricted funds |
2024 £ 127,164 |
£ 127,164 4,239 122,925 127,164 |
2023 £ 139,618 |
£ 139,618 |
|---|---|---|---|---|
| 16,572 123,046 |
||||
| 139,618 |
The accounts were approved by the Trustees on 23 July 2024
Dr S H Raza Trustee
- 6 -
Docusign Envelope ID: F5C60C24-6E26-4A59-98EA-04AA2BBADA77
PENTAID
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024
1 Accounting policies
1.1 Basis of preparation
The accounts have been prepared under the historical cost convention on a receipts and payments basis.
The charity meets its day to day working capital requirements through cash at bank. The Trustees have prepared projected cash flow information and consider that the charity will continue in operational existence for the foreseeable future. Accordingly, the accounts are prepared on a going concern basis.
The accounts have been prepared in accordance with applicable accounting standards, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008.
1.2 Incoming resources
Donations, legacies and other forms of voluntary income are recognised as incoming resources in the Statement Of Financial Activities when received, except insofar as they are incapable of financial measurement. Voluntary receipts may also include tax credits, gift aid and receipts from fund raising events.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised as voluntary donations and gifts when received and allocated to unrestricted funds.
The contribution of volunteers has not been recognised within donations as the value to the charity cannot be reliably estimated or quantified.
1.3 Resources expended
Resources expended are included directly in the Statement Of Financial Activities when paid, inclusive of any VAT which cannot be recovered.
1.4 Foreign currency translation
Transactions denominated in foreign currencies are recorded at the rate ruling at the date of the transaction.
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. All differences are included in net outgoing resources.
1.5 Accumulated funds
Restricted funds are subject to specific conditions by donors as to how they may be used.
2 Voluntary receipts
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Voluntary donations and gifts | 69,286 | 10,460 | 79,746 | 78,561 |
Significant amounts included within voluntary donations and gifts are donations from Giving Force Foundation of £11,450 (2023 - £Nil), from Samara & Co of £6,597 (2023 - £1,500), from the Livingstone Charitable Trust of £3,250 (2023 - £3,350) and from Premium Vision Limited of £2,000 (2023 - £6,000). These donations have been spent during the year on economic support to help individuals in need.
- 7 -
Docusign Envelope ID: F5C60C24-6E26-4A59-98EA-04AA2BBADA77
PENTAID
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024
3 Total expenditure
| Financial Grant charges funding £ £ Costs of generating funds Costs of generating voluntary receipts 1,689 - Charitable activities Relief of poverty Grant funding of activities - 53,528 Preservation of health Grant funding of activities - 2,021 Advancement of education Grant funding of activities - 34,963 - 90,512 1,689 90,512 |
Total 2024 £ 1,689 53,528 2,021 34,963 90,512 92,201 |
Total 2023 £ 1,014 |
|---|---|---|
| 24,390 6,515 12,553 |
||
| 43,458 | ||
| 44,472 |
Grant funding of activities comprises both one-off and regular financial assistance paid to individuals and organisations towards the furtherance of the charitable objectives of Pentaid.
4 Trustees
None of the Trustees (or any persons connected with them) received any remuneration during the current or preceding year and no expenses were paid on their behalf (2023 - £nil).
During the year under review, voluntary donations totalling £2,800 (2023 - £1,820) were received from Trustees and close family members. During the year voluntary donations were received from Premium Vision Limited, a company in which a trustee is a director, totalling £2,000 (2023 - £6,000).There were no other transactions with Trustees.
5 Employees
There were no employees during the year other than the Trustees.
6 Taxation
The charity is exempt from taxation on its income and gains where they are applied for charitable purposes.
- 8 -
Docusign Envelope ID: F5C60C24-6E26-4A59-98EA-04AA2BBADA77
PENTAID
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024
7 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement in funds | Movement in funds | ||||
|---|---|---|---|---|---|
| Balance at 6 | Receipts | Payments | Transfers | Balance at 5 | |
| April 2023 | April 2024 | ||||
| £ | £ | £ | £ | £ | |
| Relief of poverty | - | 1,200 | (53,528) | 52,328 | - |
| Preservation of health | - | 6,260 | (2,021) | - | 4,239 |
| Advancement of education | 16,572 | 3,000 | (34,963) | 15,391 | - |
| 16,572 | 10,460 | (90,512) | 67,719 | 4,239 |
Description of funds:
Relief of poverty - Giving grants to people in poverty and hardship and the relief of lack of means.
Preservation of health - Financial assistance towards health care expenses of people in poverty, health care facilities run by other charities and providing equipment to assist people with disabilities.
Advancement of education - Financial assistance and provision of equipment to enable non-affording persons to undertake education or training.
Transfers:
Transfers are made from unrestricted funds to restricted funds to cover any deficit of restricted funds arising from charitable activities within the objectives of the charity.
8 Analysis of net assets between funds
| Analysis of net assets between funds | |
|---|---|
| Unrestricted funds Restricted funds £ £ Fund balances at 5 April 2024 are represented by: Current assets 122,925 4,239 122,925 4,239 |
Total £ 127,164 |
| 127,164 |
- 9 -