| CONTENTS | ||
|---|---|---|
| Contents | ||
| Charity information |
||
| Trustees annual report |
4-5 | |
| Independent auditor's |
report | 6-8 |
| Statement offinancial | activities | |
| Balance sheet | IO | |
| Statement ofcash flows | ||
| Notes to the financial | statements | 12-15 |
| Registered | charity | name | The Habib University | Trust | Trust | |||
|---|---|---|---|---|---|---|---|---|
| Charity registration | number | 1152151 | ||||||
| Charity Commission | England | and Wales | ||||||
| Principal | oAice | Habib House | ||||||
| 42 Moorgate | ||||||||
| London | ||||||||
| EC2R 6JJ | ||||||||
| Trustees | Charles Dorsey Mackay | |||||||
| James Caen | ||||||||
| Iqbal Mohammed Kadwani |
||||||||
| Syed Kausar Kazmi | ||||||||
| Shahrukh Jumani |
||||||||
| Faheen Habib | ||||||||
| Ahsan Zahir Rizvi (resigned | 7 | December 2021) | ||||||
| Auditors | K KAssociates | |||||||
| Chartered Accountants |
and Registered | Auditors | ||||||
| 305 Crown House, Park | Royal | |||||||
| North Circular Road | ||||||||
| London | ||||||||
| NW10 7PN | ||||||||
| Bankers | Habib Bank AG Zurich | |||||||
| 142 Wigmore Street |
||||||||
| London | ||||||||
| WIU 3SH |
| YE | AR ENDED 31 | MARCH 202 | 1 | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | ||
| Funds | Funds | 2021 | 2020 | ||
| Note | |||||
| INCOME AND | |||||
| ENDOWMENTS FROM: | |||||
| Donations and legacies |
2 | 303i749 | 303,749 | ||
| Investments | 3 | 6,738 | 6,73S | I5,374 | |
| TOTAL INCOlVIE | 310,487 | 310,487 | I5,374 | ||
| EXPENDITURE ON: | |||||
| Raising funds | (216) | (216) | |||
| Charitable activities |
(2,000) | (2,000) | (618,956) | ||
| TOTAL EXPENDITURE | (241@I | (2416) | (61li,956) | ||
| NET INCOME/ | |||||
| (KXPENDITURK) | (2,216) | 310,487 | 308,271 | (603,582) | |
| OTHER RECOGNISED | |||||
| GAINS/(LOSSES) | 4 | (60i656) | (60,656) | 47,599 | |
| NET MOVEMENT IN FUNDS | (2,216) | 249,831 | 247,615 | (555,983) | |
| RECONCILIATION | OF | ||||
| FUNDS: | |||||
| Total funds brought forward |
31,697 | 972,649 | 1,004@46 | 1,560,329 | |
| TOTAL FUNDS CARRIED | |||||
| FORWARD | 8,9 | 29,4S1 | 1,222,480 | 1,251,961 | 1,004,346 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Note | f | f | |||
| CURRENT ASSETS | |||||
| Debtors | |||||
| Cash a( bank and in hand | 1,256@61 | 1,006,746 | |||
| 1,256,361 | l,OOG,746 | ||||
| CRKD1TORS; Amounts | I'ailing due within one | ||||
| year | (4,400) | (2,400) | |||
| NF,TCURRFPfT ASSETS | 1,251,961 | 1,004,346 | |||
| TOTAL ASSETS LESS | CURRENT LIABILITIES | 1,251,9GI | I,004,346 | ||
| TOTAL NET ASSETS | 10 | 1,251,961 | l,004,34ti | ||
| FUNDS OFTHE CIIARITY | |||||
| Rcsirictcd income funds | 1,222,450 | 972,649 | |||
| Unrcsuime&l income I'uncfs |
29,4ftI | 3l,697 | |||
| TOfAL CHARITY FUNDS | tc | 1,251,961 | 1,004,346 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Cash flows from operating | activities | |||
| Nct income | 308,271 | (603,582) | ||
| rtjd usrnienrs for: | ||||
| Foreign currency (losses)/gains | (60,656) | 47,599 | ||
| Other interest receivable and |
similar income | (6,738) | (15,374) | |
| Changesin: | ||||
| Trade and other | debtors | |||
| Trade and other | creditors | 2,000 | ||
| Cash generated | from operations | 242,877 | (571,357) | |
| Interest received | 6,738 | 15,374 | ||
| Net cash from operating activities |
249,615 | (555,983) | ||
| Net increase in |
cash and cash equivalents | 249,615 | (555,983) | |
| Cash and cash | equivalents | at beginning ofyear | 1,006,746 | 1,562,729 |
| Cash and cash | equivalents | at end ofyear | 1,256,361 | 1,006,746 |
| 2. | DONATION AND LEGACIES |
||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | ||
| Funds | Funds | 2021 | 2020 | ||
| s | f. | ||||
| Donations | |||||
| Donations | 303,749 | 303,749 | |||
| Gilt Aid | |||||
| 303,749 | 303,749 | ||||
| Restricted | Total Funds | Total Funds | |||
| Funds | 2021 | 2020 | |||
| 3. | INVESTMENT INCOME | ||||
| Bank interest income | 6,738 | 6,738 | 15,374 | ||
| 6,738 | 6,738 | 15,374 | |||
| 12 |
| Restricted | Total Funds | Total Funds | |||
|---|---|---|---|---|---|
| Funds | 2021 | 2020 | |||
| g | |||||
| 4. | OTHER RECOGNISED GAINS/(LOSSES) | ||||
| Foreign currency | (losses)/gains | (60,656) | (60,656) | 47,599 | |
| (60,656) | (60,656) | 47,599 |
| Unrestricted | Restricted | Total Funds | Total Funds | ||||
|---|---|---|---|---|---|---|---|
| Funds | Funds | 2021 | 2020 | ||||
| Charitable | expenditure | in education | |||||
| sector | 616,956 | ||||||
| Governance | costs —Audit fees | 2,000 | 2,000 | 2,000 | |||
| 2,000 | 618,956 | ||||||
| 6. | DEBTORS | ||||||
| 2021 | 2020 | ||||||
| Gilt Aid receivable | |||||||
| Other debtors | |||||||
| 7. | CREDITORS: Amounts | falling due | within one year | ||||
| 2021 | 2020 | ||||||
| Accruals | 4,400 | 2,400 | |||||
| 4)400 | 2,400 |
| UNRESTRI | CTED INC | OME FUNDS | |||
|---|---|---|---|---|---|
| Balance at | Incoming | Outgoing | Balance at | ||
| 31Mar 2020 | resources | resources 31March 2021 | |||
| 0 | x | ||||
| Unrestrirted | funds | 31,697 | (2,216) | 29,481 |
| RESTRICTED INC | OME FUNDS | |||
|---|---|---|---|---|
| Balance at | Incoraiag | Outgoing | Balance at | |
| 31Mar 2021 | resources | resources | 31March 2021 | |
| Education | 972,649 | 310,487 | (60,656) | 1,222,480 |
| Restricted | Total | ||||
|---|---|---|---|---|---|
| Funds | Funds | ||||
| 2021 | 2021 | ||||
| f. | |||||
| Debtors | |||||
| Cash at bank | and | in hand | 33,881 | I/22, 480 | 1,256,361 |
| Creditors (falling | |||||
| due within | one year) | (4,400) | (4,400) | ||
| Net assets | 29,481 | 1,222,480 | 1351,961 | ||
| Unrestricted | funds | 29,481 | 29,481 | ||
| Restricted funds |
1,222,480 | 1,222,480 | |||
| Total charity | funds | 29,481 | 1,222,480 | 1,251,961 | |
| Unrestricted | Restricted | Total | |||
| Funds | Funds | Funds | |||
| 2020 | 2020 | 2020 | |||
| Debtors | |||||
| Cash at bank | and | in hand | 34,097 | 972,649 | i,006,746 |
| Creditors (falling | |||||
| due within | one year) | (2,400) | (2,400) | ||
| Net assets | 31,697 | 972,649 | ),004.346 | ||
| Unrestricted funds Restricted funds |
31,697 | 972,649 | 3i,697 972,649 |
||
| Total charity | funds | 3),697 | 972,649 | 1,004,346 |