CHARITY REGISTRATION NUMBER: 1151882
AL-KARIM FOUNDATION Financial Statements 31 August 2023
SALEEMI ASSOCIATES
Chartered accountants 792 Wickham Road Croydon CR0 8EA
AL-KARIM FOUNDATION
Financial Statements
Year ended 31 August 2023
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities | 6 |
| Statement of financial position | 7 |
| Statement of cash flows | 8 |
| Notes to the financial statements | 9 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 15 |
AL-KARIM FOUNDATION
Trustees' Annual Report (continued)
Year ended 31 August 2023
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 August 2023.
Reference and administrative details
Registered charity name AL-Karim Foundation Charity Type Charitable Incorporated Organisation Charity Registration date: 03 May 2013 Charity registration number 1151882 Principal office Al-Karim Foundation, PO Box 93, BANSTEAD, SM7 9BD, UK Charity trustees Shuaib Yusaf Saleem Butt Tehsin Yusaf
All Trustees held their positions for the period to 31 August 2023
Accountants Saleemi Associates 792 Wickham Road Croydon CR0 8EA Bankers Al- Rayan Bank PLC Al Rayan Bank PO Box 12461 Birmingham B16 6AQ Independent Legal Advisors Khalid Sofi Lee Bolton Monier-Williams, LLP 1 The Sanctuary Westminster London SW1P 3JT
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AL-KARIM FOUNDATION
Trustees' Annual Report (continued)
Year ended 31 August 2023
Structure, governance and management
The Charity operates as Charitable Incorporated Organisation.
The Trustees of the Charity operate in accordance with the Governing Document of the Charity and are responsible for all matter pertaining to governance and executive functions at the Charity. Trustees are not remunerated and do not claim expenses either.
When setting the objectives for the Charity and planning the activities for the year, the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit. The Trustees are satisfied that the objectives and activities of the Charity are appropriate, relevant and commensurate with advancing the Charity's stated goals.
Objectives and activities
Objectives
Al-Karim Foundation was established with the following specific aims,
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The advancement of healthcare through raising awareness and education amongst ethnic minorities in the UK of the need to become bone-marrow donors;
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The relief of financial hardship caused by incapacity of the wage earner through cancer (or related illness) in the Indian Subcontinent.
Overview of Activities
Since the registration of Al-Karim Foundation on 03 May 2013, the Charity has commenced the process of establishing itself as a cancer education and hardship relief charity.
Al-Karim Foundation has developed and uses the SNER toolkit designed to Seed, Nurture, Educate and Register potential bone marrow donors from the UK ethnic minorities. This has aided several urgent and serious cases in the UK where the need was identified to find a bone marrow match amongst the ethnic minorities. Al-Karim Foundation does this through “signposting” potential donors to UK bone marrow registries; this works particularly well as the medical aspects and screenings for potential bone marrow donations are conducted by affected organisations at nil expense to Al-Karim Foundation.
Al-Karim Foundation also provides practical assistance to all requests for bone marrow matches through dissemination of requirements to affected parties who would subsequently contact UK bone marrow agencies. As in previous years, this was availed on numerus occasions during the course of the year.
Al-Karim Foundation continues to provide financial and provisions assistance to families where the wage earner has been incapacitated through cancer or a cancer related illness. The Charity's resources allow for only a limited number of families to be supported with an emphasis on ensuring continuity and sustainability of support until beneficiary self-sufficiency prevails.
Al-Karim Foundation deploys a small but committed number of volunteers to assist with SNER related donor encouragement activities in the UK.
Notwithstanding, the Trustees are satisfied that the stated objectives of the Charity are fulfilled in a timely manner.
The administration of the Charity is conducted entirely by its Trustees for the express purposes of fulfilling the objectives, and critically, also ensuring that administration expenses are minimised.
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AL-KARIM FOUNDATION
Trustees' Annual Report (continued)
Year ended 31 August 2023
Risk Management
The Trustees acknowledge their responsibilities for establishing and adhering to a risk management system and are satisfied that appropriate systems and procedures are in place and under constant review for relevance and appropriateness.
Reporting Serious Incidents
The Trustees are pleased to confirm that no instances occurred in the running or activities of the Charity which gave rise to any serious incidents or the requirement for reporting thereof.
Related Party Transactions
There were no related part transactions in the conduct of the Charity's affairs for the year ended 31 August 2023
Achievements and performance
Commensurate with the Charity’s income, the Charity has continued to support families with income and provisions where their stability has been severely curtailed. Approx. 280 families have benefitted to date and a material difference has been made to their well-being whilst they cope with the loss of income and cancer-related illness in the family.
The Charity has also dealt with all UK requests for bone-marrow matches, providing much needed solace and support to distressed families. Bone-marrow matches are still difficult to find – something which highlights the need for the Charity’s work in encouraging the ethnic minorities to register as potential bone-marrow donors.
The Trustees remain satisfied that the Charity’s performance and effectiveness is commensurate with its limited donation income.
Financial review
For the period under review, the total donation income amounted to £16,684.28.
Total resources expended on charitable activities were £11,248.28
Al-Karim Foundation's current commitments are to maintenance of the website and the PO Box deployed; this is done through voluntary donation without availing the Charity’s resources.
Al-Karim Foundation is also registered with HMRC as a charitable company. The Trustees confirm that the Charity did not receive any non-exempt income, and also confirm that income expended was not on non-charitable expenditure.
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AL-KARIM FOUNDATION
Trustees' Annual Report (continued)
Year ended 31 August 2023
Plans for future periods
The Trustees will continue to consolidate the Charity's position through fundraising and providing assistance to all requests for bone-marrow matches, in furtherance of the stated objectives.
The Trustees intend to maintain the fundraising at Al-Karim Foundation commensurate with keeping administration costs to a minimum, and will continue to support affected families to self-sufficiency and a reduced dependency upon the Charity's aid.
The Trustees intent to continue the process of dialogue with other faith centres in order that other subcontinent ethnicities may also avail the Charity's services, particularly for the purposes of bonemarrow matches.
The trustees' annual report was approved on 19 June 2024 and signed on behalf of the board of trustees by:
S YUSAF Trustee
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AL-KARIM FOUNDATION
Independent Examiner's Report to the Trustees of AL-KARIM FOUNDATION
Year ended 31 August 2023
I report to the trustees on my examination of the financial statements of AL-KARIM FOUNDATION ('the charity') for the year ended 31 August 2023.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Payal Mishra
Payal Mishra (Jun 20, 2024 15:46 GMT+1)
Payal Mishra - FCCA 792 Wickham Road Croydon CR0 8EA Dated: 20 June 2024
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AL-KARIM FOUNDATION
Statement of Financial Activities
Year ended 31 August 2023
| Year ended 31 August 2023 | ||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 16,684 | 16,684 | 14,203 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total income | 16,684 | 16,684 | 14,203 | |
| ============================ | ============================ | ============================ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 5,6 | 11,248 | 11,248 | 9,543 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total expenditure | 11,248 | 11,248 | 9,543 | |
| ============================ | ============================ | ============================ | ||
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Net income and net movement in funds | 5,436 | 5,436 | 4,660 | |
| ============================ | ============================ | ============================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 16,185 | 16,185 | 11,525 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total funds carried forward | 21,621 | 21,621 | 16,185 | |
| ============================ | ============================ | ============================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 13 form part of these financial statements.
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AL-KARIM FOUNDATION
Statement of Financial Position
31 August 2023
| 31 August 2023 | ||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| Note | £ | £ | £ | |
| Current assets | ||||
| Cash at bank and in hand | 21,621 | 16,185 | ||
| ---------------------------- | ---------------------------- | |||
| Net current assets | 21,621 | 16,185 | ||
| ---------------------------- | ---------------------------- | |||
| Total assets less current liabilities | 21,621 | 16,185 | ||
| ============================ | ============================ | |||
| Funds of the charity | ||||
| Unrestricted funds | 21,621 | 16,185 | ||
| ---------------------------- | ---------------------------- | |||
| Total charity funds | 10 | 21,621 | 16,185 | |
| ============================ | ============================ |
These financial statements were approved by the board of trustees and authorised for issue on 19 June 2024, and are signed on behalf of the board by:
S YUSAF Trustee
The notes on pages 9 to 13 form part of these financial statements.
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AL-KARIM FOUNDATION
Statement of Cash Flows
Year ended 31 August 2023
| Year ended 31 August 2023 | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Cash flows from operating activities | ||
| Net income | 5,436 | 4,660 |
| ----------------------- | ----------------------- | |
| Cash generated from operations | 5,436 | 4,660 |
| ----------------------- | ----------------------- | |
| Net cash from operating activities | 5,436 | 4,660 |
| ======================= | ======================= | |
| Net increase in cash and cash equivalents | 5,436 | 4,660 |
| Cash and cash equivalents at beginning of year | 16,185 | 11,525 |
| ---------------------------- | ---------------------------- | |
| Cash and cash equivalents at end of year | 21,621 | 16,185 |
| ============================ | ============================ |
The notes on pages 9 to 13 form part of these financial statements.
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AL-KARIM FOUNDATION
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Al-Karim Foundation, Po Box 93, Banstead, SM7 9BD, England.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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AL-KARIM FOUNDATION
Notes to the Financial Statements (continued)
Year ended 31 August 2023
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
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AL-KARIM FOUNDATION
Notes to the Financial Statements (continued)
Year ended 31 August 2023
3. Accounting policies (continued)
Financial instruments (continued)
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Donations | ||||
| General donations | 16,684 | 16,684 | 14,203 | 14,203 |
| ============================ | ============================ | ============================ | ============================ |
5. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Expenditure on charitable activities | 10,248 | 10,248 | 8,543 | 8,543 |
| Support costs | 1,000 | 1,000 | 1,000 | 1,000 |
| ---------------------------- | ---------------------------- | ----------------------- | ----------------------- | |
| 11,248 | 11,248 | 9,543 | 9,543 | |
| ============================ | ============================ | ======================= | ======================= |
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AL-KARIM FOUNDATION
Notes to the Financial Statements (continued)
Year ended 31 August 2023
6. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Expenditure on charitable activities | 10,248 | – | 10,248 | 8,543 |
| Governance costs | – | 1,000 | 1,000 | 1,000 |
| ---------------------------- | ----------------------- | ---------------------------- | ----------------------- | |
| 10,248 | 1,000 | 11,248 | 9,543 | |
| ============================ | ======================= | ============================ | ======================= |
7. Independent examination fees
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 1,000 | 1,000 |
| ======================= | ======================= |
8. Staff costs
The average head count of employees during the year was Nil (2022: Nil).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
9. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees;
10. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At | At | |||||
| 1 | September | 31 | August 2 | |||
| 2022 | Income | Expenditure | 023 | |||
| £ | £ | £ | £ | |||
| General funds | 16,185 | 16,684 | (11,248) | 21,621 | ||
| ============================ | ============================ | ============================ | ============================ | |||
| At | At | |||||
| 1 | September | 31 | August 20 | |||
| 2021 | Income | Expenditure | 22 | |||
| £ | £ | £ | £ | |||
| General funds | 11,525 | 14,203 | (9,543) | 16,185 | ||
| ============================ | ============================ | ======================= | ============================ |
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AL-KARIM FOUNDATION
Notes to the Financial Statements (continued)
Year ended 31 August 2023
11. Analysis of net assets between funds
| Unrestricted | Total Funds | |||
|---|---|---|---|---|
| Funds | 2023 | |||
| £ | £ | |||
| Current assets | 21,621 | 21,621 | ||
| ============================ | ============================ | |||
| Unrestricted | Total Funds | |||
| Funds | 2022 | |||
| £ | £ | |||
| Current assets | 16,185 | 16,185 | ||
| ============================ | ============================ | |||
| 12. | Analysis of changes in net debt | |||
| At | At | |||
| 1 Sep 2022 | Cash flows | 31 Aug 2023 | ||
| £ | £ | £ | ||
| Cash at bank and in hand | 16,185 | 5,436 | 21,621 | |
| ============================ | ======================= | ============================ |
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AL-KARIM FOUNDATION
Management Information
Year ended 31 August 2023
The following pages do not form part of the financial statements.
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AL-KARIM FOUNDATION
Notes to the Detailed Statement of Financial Activities
Year ended 31 August 2023
| Year ended 31 August 2023 | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| General donations | 16,684 | 14,203 |
| ---------------------------- | ---------------------------- | |
| ---------------------------- | ---------------------------- | |
| Total income | 16,684 | 14,203 |
| ============================ | ============================ | |
| Expenditure | ||
| Expenditure on charitable activities | ||
| Purchases | 10,248 | 8,543 |
| Legal and professional fees | 1,000 | 1,000 |
| ---------------------------- | ---------------------------- | |
| 11,248 | 9,543 | |
| ---------------------------- | ---------------------------- | |
| ---------------------------- | ----------------------- | |
| Total expenditure | 11,248 | 9,543 |
| ============================ | ======================= | |
| ---------------------------- | ----------------------- | |
| Net income | 5,436 | 4,660 |
| ============================ | ======================= |
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2024-06-20
Al Karim Foundation 2023 Final
Final Audit Report
Created: 2024-06-20 By: M A Saleemi (info@saleemiassociates.com) Status: Signed Transaction ID: CBJCHBCAABAAQ_4yQp1sZgwApYqvPwkN2HuYv3zeTMMP
"Al Karim Foundation 2023 Final" History
Document created by M A Saleemi (info@saleemiassociates.com)
2024-06-20 - 2:30:56 PM GMT
Document emailed to Shuaib Yusaf (shuaib@alkarim.org) for signature
2024-06-20 - 2:31:04 PM GMT
Email viewed by Shuaib Yusaf (shuaib@alkarim.org)
2024-06-20 - 2:39:11 PM GMT
Signer Shuaib Yusaf (shuaib@alkarim.org) entered name at signing as SHUAIB YUSAF 2024-06-20 - 2:40:21 PM GMT
Document e-signed by SHUAIB YUSAF (shuaib@alkarim.org)
Signature Date: 2024-06-20 - 2:40:23 PM GMT - Time Source: server
Document emailed to Payal Mishra (payal@saleemiassociates.com) for signature 2024-06-20 - 2:40:24 PM GMT
Email viewed by Payal Mishra (payal@saleemiassociates.com) 2024-06-20 - 2:45:32 PM GMT
Document e-signed by Payal Mishra (payal@saleemiassociates.com) Signature Date: 2024-06-20 - 2:46:00 PM GMT - Time Source: server
Agreement completed.
2024-06-20 - 2:46:00 PM GMT