Charity Registration No. 1140854 THE ABDALLA FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5APRIL 2025
THE ABDALLA FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION TNstees Dr Hossam Ibrahim Abdalla Dr Madiha Mohamed Ahmed E15awi Charity number 1140854 Prlnclpal addrass 20 Parkside Wimbledon London SW19 SNA Independent examiner Gilbert Holboum FCA FCCA DChA 1 Upper Bridge Street Wye Kent TN25 SAF Bankars Lloyds Private Banking 25 Gresham Street London EC2V 7HN Solicitor5 New Quadrant Partners Lirniled 25 Bury Street St. James's London SW1Y 6AL Investment advlsors Bloomsbury Wealth 11th Floor 30 Crown Place London EC2A4BT Administration Consultant Diana Flood 20 Parkside London SW19 SNA
THE ABDALLA FOUNDATION CONTENTS Page Tmslees report Independent examinerfs report Statement of financial activities Balan sheet Notes to the fin8nci81 statements 9-14
THE ABDALLA FOUNDATION TRUSTEES REPORT FOR THE YEAR ENDED 5 APRIL 2025 The Trustees present their report and awunts for the year ended 5 April 2025. The accounts have been prepared in accordance with the accounting policies sel out in note 1 to the accounts and comply with the Charity's Trust Deed, the Charities Act 2011 and 'Accounling and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191" Objectives and activities The Trustees operate a grant giving policy, providing funds for such charitable object or inslilulion as the Tru51ees think fil. The current main aims of the charity are.. To fund organisalions that support tolerance between middle Eastem religions. To support organisalions in Egypt which help educate young people in health and religion. To ensure that any grants they make are in line with their charitable objects and observe the impact of any grants they make. To maintain resources al a reasonable level in order lo continue lo provide general charitable assistance in the foreseeable future. Public benefit The Trustees confirrll that they have referred to the guidance contained in the Charity Commission's revise general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities and setting the grant making policy for the year. The Charity carries out these objectives by providing grants lo inslilulions in the UK and overseas whose objects comply with the Charity's criteria. The Trustees are mindful of their own obligation lo ensure that the Trust benefits the public generally and lo ensure that recipients of grants operate for the public benefit. Potential recipients of grants are identified by the Trustees individually in areas where it is perceived that public benefit will be achieved. The opportunity to benefit is not reslricled in any way. The Trustees obtain evidence that any organisalions or individuals they support do what they purport lo and will keenly observe the irllpacl of any grants they make. In all other respects, grants are not limited in any way except that the recipients should have a hari18ble need. The Trustees therefore Consider that the Charitys activities are for the benefit of the public generally.
THE ABDALLA FOUNDATION TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Flnan¢lal rsvlew In the year ended 5 April 2025, the Trustees received £125,000 donations in the form of cash and GiftAid12024- £125,000). The Trustees awarded grants tolalling £44,62012024 - £28,2651 during the year in accordance with the Charity's grant making policy. A detailed list of all grants made in the year is included in note 7 to the accounts. Results for the year During the year ended S April 2025, total incoming resources arllounted to £219,771 12024 - £212,103), being investment income and interest and donations and Gift Aid received by the Charity 12024 being investment income and interest and donations and Gift Aid reiVed by the Charity). The Trustees, charitable activities amounted to £44,620 12024 - £28,2651. Governance costs, inclusive of Investment management costs, arnounled lo £32,703 12024 £31,124) and the net incoming resources were £142,44812024 - £152,714). Net investment losses in the year lotslled £77,56512024 - gains of £294,316). The nel movement in funds for the year after inveslrnenl gains and losses resulted in an increase of £64,88312024 - £447,030). Financial position The statement of fin8n¢ial activities shows tol81 unrestricted funds of £3,929,334 12024 - £3,864,451). The unrestricted fund cornprises amounts which ullim8lely are free reserves bul which are held by the Trustees so as lo ensurs the ntInUed generation of income in future periods. thereby helping lo safeguard the long ler existence of the Charity and the a¢hievernenl of its objectives. The size of the unreslrided fund sustains and supports the level of donations whiGh the Trustees wish lo maintain and enhance over lime. The Trustees consider the free rtrsgrves to btr adtrquale bul not ex¢&ssive in the light of the Charity's rtrservo policy. Reserves policy The unreslricled fund represents the funds reiVed by the Charity on ils creation, adjusted for nel movements since that date. The Trustees have power lo meet adminislralive expenses from this fund and may apply the income towards the general purposes of the Charity. There is no restricted fund in place so all charitable activities are treated as paid from unreslricled funds. The Charity is operated as a grant giving charity, and the Trustees, policy is to adrllinisler the assets on an absolute basis and seek lo make donations as they see fil in each financial year, subject to regular review. The trustees believe that the reserves are adequate and provide a stsble basis for its continuing activities and these are reviewed on a regular basis. Invostmant pollcy and performance During the year the Charity's investment assets decreased by 0.26°1.12024 - increase of 8.73 /.). This is based on the total return figures provided by Bloomsbury, who manage the Charity's investment portfolio. Totsl interest and dividend income received in the year amounted to £94,771 12024 - £87,103) which equates to a yield of 2.65°1.12024- 2.44°/.I based on the market valuation of the investment assets at the year end. The investment manager will continue to invest in accordan with the agreed investment strategy. A prudent investment policy has been adopted by the Trustees, who have invested the assets with Bloomsbury Wealth on a discretionary mandate. Bloomsbury Wealth provide diversification through holding a number of investment funds. The trustees are satisfied wf(h the performance of the investments and remain content that their investment objectives are being met.
THE ABDALLA FOUNDATION TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Risk Management In line with the requirement for charity Trustees lo undertake a risk assessment exercise, the Trustees have identified three main areas where risks may occur.. Governance Operational Risk Financial Risk Governan covers the conlinuty of Irusleeship, the skills and background of the Trustees and the policy of regular meetings of the Trustees lo review their aims and activities. Operational risk covers the risk inherent in the delegation of slalulory and legal requirements of the Charity, 115 management and secretarial functions and delegation of those functions. Financial risk include those inherent in the delegation of the financial record keeping of the Charity, ils independent ex8minalion and review procedures. Having assessed the Thajor risks lo which the charity is exposed, in particular those relating lo ils finances, the Iruslees believe that by ensuring controls exist over key financial systems incorporating the system5 and controls irnplernenled by New Quadrant Partners Limited, subject to regular monitoring, they have esl8bli5hed effective systems to miligale those risks. The risk assessment will be kept under regular review and will be fully reassessed every three years. The last review was due in December 2025 and was Carried out in October 2025. The Trustees agreed that no changes were required lo the existing policy. The next review will lake pla in late 2028. Future plans The Trustees do not anticipate any significant changes lo the Charity or its activities over the next two to five years. It is their intention to meet the following objectives.. To ensure the investment performance achieves the criteria sel by them so that there are sufficient funds lo meet their grant giving activities. To continue lo make grants al a sirllilar, if not higher, level. To consider adding cash funds to the investment portfolio to enhance the generation of income and capital gains on the Charills funds. Structure. govèrnance and managgm8nt The Abdalla Foundation is governed by a Trust Deed dated 24 February 2011 and reiVed confirmation of charitable status on 22 March 2011. The Charity is registered under the Charities Act 2011, Charity Registration Number 1140854. Trustees The Trustees who served during the year were.. Dr Hossam Ibrahim Abdalla Dr M8dih8 Mohamed Ahmed Elsawi
THE ABDALLA FOUNDATION TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Appolntment of Trustoos The statutory power of appointment of new Truslees lies with the Trustees themselves. There must be at least two Trustees. Apart from the First Trustees, every TrLJslee must be appointed by a resolution of Ihe Trustees passed al a special meeling. The Truslees will select individuals with the relevant knowledge and experience needed for the effective administration of the Charity. The new Trustee is given upon first appointmenl a copy of the Trust deed and any amendments made to it and a copy of the Charity's latest report and statement of accounts. Structure and management reporting The Trustees a uttimalely responsible for the policies, activities and assets of the Charity. They meet al least twice 8 year to review the develc)pments with regard to the Charity and ils grant giving activities and to make any important decisions. When necessary, the Trustttes seek advice and support from the Charity's professional advisors including solicitors and a¢¢ountsnls. The day lo day management of the Charity's a¢livilies, and the implementation of policies, is dealt with by the Trustees, Finance and Administration Consultant, Diana Flood. Diana administers payments for the Charity and provides statements to New Quadrant Partners Limited to enable them to Complete the annual financial statements. Al their meetings the Truslees review the proposals for grants and grants made, and the level of funds available.
THE ABDALLA FOUNDATION TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Trustees. responsibilities in relation to the financial statements The Charity's Trustees are responsible for preparing the Trustees. Annual Report and financial slalements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). The law applicable lo Charities in England and Wales requires the Trustees lo prepare financial slalements for each financial year which give a true and fair view of the stale of affairs of the Charity and of the incorning resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustees are required lo.. select suitable accounting policies and apply them consislenlly., observe the methods and principles of the Charities SORP., rnake judgements and estimates that are reasonable and prudent., slate whether applicable accounting standards have been followed, subject lo any departures disclosed and explained in the financial statements., and prepare the financial statements on a going ¢oncem basis unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy al any lime the financial position of the Charity and enable them lo ensure that the financial slalements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Ttusl Deed. The Trustees are also responsible for Safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detedion of fraud and other irregularities. The Trustees meet al least twice a year lo review the monagement accounts, forecasts and ¢ashflow analysis. The Trustees believe that the charty is a going concern and for this reason the going concern basis for the preparation of the financial statements is ¢onsidered valid. 2710112026 The report Was approved by the Trustees on .............................................. and signed on their behalf by.. Dr Hossam Ibrahlm Abdalla Dr Madlha Mohamed Ahmed Elsawl Dated.. 2710112026 D8ted.. 27101/2026
THE ABDALLA FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ABDALLA FOUNDATION I report on the accounts of the ¢harity for the year ended 5 April 2025, whi¢h are set out on pages 7 to 14. Respective responsibilities of Trustees and examiner The charity's Trustees are responsible for the preparation of the a¢¢ounts. The charity's Trustees consider that an audit is not required for this year under section 144121 of the Charities A¢t 2011 Ithe 2011 Act) and that an independent examination is needed. 11 is my responsibility lo.. examine the 8¢¢ounts under se¢tion 145 of the 2011 Act., to follow the procedures laid down in the general Directions given by the Charity Commission under section 14515llbl of the 2011 Act., and liiil to stale whether particular matters have come to my attention. Basls of Independent examlnar's roport My examination was carried out in accordance with the general Directions given by the Charity Commission. An exarllinalion includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. 11 also includes consideration of any unusual ilerlls 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 'lrue and fair view, and the report is limited to those matters sel out in the next statement. Indepondant 8xamln8r's statement In connection with my examination, no Matter has come to my attention.. lal which gives me reasonable cause lo believe that in any material respect the requirements.. to keep accounting CordS in accordance with section 130 of the 2011 Act., and lill to prepare accounts which accord with the accounting records, and comply with the accounting requirements of the 2011 Act., have not been mel or Ibl lo which, in my opinion, attention should be drawn in order to en8ble 8 proper understanding of the a¢counls to be reached. I have no concems and have come across no other matters in connection lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Gilbert Holbourn FCA FCCA DChA 1 Upper Bridge Street Wye Kent TN25 SAF Dated.. 281.0112026
THE ABDALLA FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5APRIL 2025 Total 2025 Total 2024 Notes Income from.. Donations and legacies Investments 125,000 94,771 125,000 87,103 Total Income 219,771 212,103 Expenditure on.. Raising funds 21,322 19,270 Charitable activities 56,001 40,119 Total rèsourcès expandèd 77,323 59,389 Net income 142,448 152,714 Net Ilossesygains on investments 177,5651 294,316 Net income and movement in funds 64,883 447,030 Fund balance al 6 April 2024 3,864,451 3,417,421 Fund balanco at 5 Aprll 2025 3,929,334 3,864,451 The notes on pagos 9 to 14 form part of these financial ststsmgnts. All recognised gains and losses are included in the above statement of financial activities. All of the Charity's activities derived from continuing operations during the above financial year.
THE ABDALLA FOUNDATION BALANCE SHEET AS AT 5 APRIL 2025 2025 2024 Notes Flxed assets Investments Current assets Debtors Cash at bank and in hand 3,573,537 3,583,734 10 30,611 337,176 25,000 257,530 367,787 282,530 cditOrs.. amounts falling due within one year 11 11,990 1,813 Net current assets 355,797 280,717 Total assets lass current Ilabllltlès 3,929,334 3,864,451 Income funds Unrestricled funds 3,929,334 3,864,451 The notes on pages 9 to 14 form part of these financial stslemenls. The financial statements were approved by the Trustees and authorised for issue on 2710112026.... and are signed on their behalf by.. Dr Hossam Ibrahim Abdalla Trustee Dr Madiha Mohamed Ahmed Elsawi Trustee
THE ABDALLA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accountlng poll¢lo$ 1.1 Accounting convention These accounts have been prepared in accordan with FRS 102 °The Financial Reporting Standard applicable in the UK and Republic of Ireland. I'FRS 102.1, 'Accounting and Reporting by Charities" the Statement of Recommended practi for charities applying FRS 102, the Charilies Act 2011 and UK Generally Accepted AccoLJnting practi as it applies from 1 January 2019. The Charity is a Public Benefit Entity as defined by FRS 102. The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial slalemenls are rounded lo the nearest £. 1.2 Going concern Al the time of approving the accounts, the Trustees have a reasonable expectation that the Charity ha5 adequate resources lo continue in operational existence for the foreseeable future. Thus they continue lo adopt the going ¢on¢em basis of accounting in preparing the a¢¢ounts. 1.3 Incoming resources Income is re¢ognised when the Charity is legally entided after any perf0mlan conditions have been met, the amoLJnts Can be measured reliably, and it is probable that income will be reived. Cash donations are recognised on receipt. Olher donations are recognised once the Charity has been nolified of the donation, unless perfomiance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation. Investment income is accounted for in the period in which the charity is entitled lo receipt. 1.4 Resources expended The cost of the charitsble activities a included in the statement of financi81 activities on an accruals basis, inclusive of VAT, which cannot be recovered. Charitable costs comprise grants payable in promoting and enhancing charitable work carried out by other ¢h8ritsble organisations and the Cost of administering the activities of the Charity. Grants payable a in¢luded in the slalem&nt of financial a¢livilies when approved and when the intended recipient has either received the funds or been infomed of the decision to make the donation and has satisfied all related conditions. Grants approvèd but not paid at thè énd of thè financial yèar are 8red. Grants where the benefi¢iary has not been informed or has to meet certain conditions before the grant is rèleased are not ac¢rLJed but are noted as finanaal commitménts in th8 notes to th8 accounts. Governan¢e ¢osls in¢lude costs which are directly attributable lo the Independent Examination and other procedures ne¢trssary for wmplian¢e with slalutory requirements and Ihtr goveman¢e of Ihtr Charity. 1.5 Flxèd asset investments Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Realised gainslllossesl on inveslrllenls assets are calculated on the difference between disposal proceeds and their opening carrying value or purchase value if acquired subsequent lo the first day of the financial year. Unrealised gainslllossesl on investments assets are calculated as the differen between the fair value at the year end and their carrying value at that dale. Realised and unrealised investrllent gainslllossesl are combined in the statement of financial activities and are crediledlldebiledl in the year which they arise.
THE ABDALLA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Accounting policies (Continuedl 1.6 Cash and cash equivalants Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.7 Taxation The Abdalla Foundation is a registered Charity and therefore is not liable to income tax or corporation tax on income or gains derived from ils charitable activities as they fall within the exemptions available lo registered charities. 1.8 Forelgn exchange Transactions in currencies other than pounds sterfing are recorded at the rates of exchange prevailing al the dales of the transactions. At each reporting end dale, monetary assets and liabilities that are denominated in foreign currencies are relranslaled at the rates prevailing on the reporting end dale. Gains and losses arising on translation are included in nel incomellexpendilurel for the period. 1.9 Debtors and Creditors Debtors are recognised at their settlement amount or maturity value, less any provision for non-recoverability. Creditors are recognised when there is an obligation at the balance sheet dale as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be eslimaled reliably. Creditors are recognised by the amount the Charity anlicipales it will pay lo settle the debt. 1.10 Relatèd party transactions Dr Hossam Ibrahim Abdalla made a £75,000 donalion12024- £80,000) to the charity in the year. Dr Madiha Mohamed Ahmed Elsawi made a £25,000 donation12024- £20,000) to the charity in the year. 1.11 Staff Co$ts and Trustees, Remuneration The Charity employed no staff during the year or prior year. The key management of the charity consist of the Trustees only. No Trustees received any remuneration in respect of their services or were reimbursed for expenses during the current or prior year. Crltlcal a¢¢ountlng estlmat•s and ludgèmants In the application of the Charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The eslirnales and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and futu periods. No such judgements or estimates were used in the preparation of these financial statements. 10-
THE ABDALLA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Donatlon$ and logaclos 2025 2024 Cash donations Gift Aid 100,000 25,000 100,000 25,000 125,000 125,000 Investments Total 2025 Total 2024 Income from listed investments Interest re1vable 84,787 9,984 80,528 6,575 94,771 87,103 Ral$lng fund$ Total 2025 Total 2024 Investment management costs inclusive of Custody charges 21,322 19,270 Charitsble a¢tivities 2025 2024 Independent Examination fee Diana Flood adminislralion fee Bank charges New Quadrant Partners Limited fees LSE Social Entrepreneurship course 1,600 1,100 281 8,400 1,550 1,000 304 7,200 1,800 11,381 11,854 Grant funding of activities (see note 71 44,620 28,265 56,001 40,119 11
THE ABDALLA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Grants payabl 2025 2024 Grants to inslilulions.. Al Quds Medical S¢hool Alfanar Venture Philanthropy Alzheimerfs Society Egyptian Community Foundation Fèeding Families in Rafah Collèction Pot FUEL Theatre Ivia The Big Give) Gaza Egypt Humanitarian Appeal H8noon Foundation Iformedy FQMSI Health Workers 4 Palestine Honoring Morten's Legacy Through Karate IMET2000 John King Brain Tumour Foundation Magdi YacoLJb Global Heart Foundation MS Society PALFEST Parkinson's UK Seenaryo St Raphael's Hospice Shelter University College London Hospital Charity IProject Pure Hopel Womb Transplant UK Women and Girfs (Development) 1,500 1,026 2,400 1,000 2,602 262 1,610 1,000 1,000 2,000 1,000 500 2,000 1,000 4,022 156 10,000 14,000 200 2,000 301 2,400 2,400 5,001 5,000 7,000 43,115 1,505 28,265 Grants to individuals 44,620 28,265 12-
THE ABDALLA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Flxed as$ot Invostmenls 2025 2024 Investments- Listed on a recognised Stock Exchange Carying value Imarkel value) at 6 April 2024 3,392,310 3,114,178 Add: Additions to investments al cost 132,420 173,716 Less.. Disposals (Proceeds £3,900 '. realised gain £8081 Net unrealised Ilossesllgain in year 13,0921 178,3751 1127,5801 231,996 Net unrealised market value a15 April 2025 Cash held with Investment Manager 3,443,263 130,274 3,392,310 191,424 Market value including cash with investment Manager at 5 April 2025 3,573,537 3,583,734 Historical cost of listed investments al 5 April 2025 2,838,411 2,709,083 Net gainslllossesl on investments Total 2025 Total 2024 Revaluation of investments G8inlloss on sale of investments Foreign exchange gains 178,3751 808 231,996 62,320 177,5651 294,316 10 Debtors 2025 2024 Amounts falllng due wlthln ono y•ar.' Gift Aid due Other debtors Bank interest receivable 25,000 5,000 611 25,000 30,611 25,000 13-
THE ABDALLA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 11 Credltors: amounts falllng duo wllhln on& year 2025 2024 Credit card balance due Independent Examination fee New Quadrant Partners fee 1,990 1,600 8.400 263 1,550 11,990 1,813 14-