| CONTENTS | ||
|---|---|---|
| Contents | ||
| Charity information | ||
| Trustees annual report |
4-5 | |
| Independent auditor's |
report | 6-8 |
| Statement offinancial | activities | |
| Balance sheet | 10 | |
| Statement ofcash flows | ||
| Notes to the financial | statements | 12-15 |
| Registered | charity | name | The Habib University | The Habib University | Trust | Trust | |
|---|---|---|---|---|---|---|---|
| Charity registration | number | 1152151 | |||||
| Charity Commission | England | and Wales | |||||
| Principal | office | Habib House | |||||
| 42 Moorgate | |||||||
| London | |||||||
| EC2R 6JJ | |||||||
| Trustees | Charles Dorsey Mackay | ||||||
| James Caan | |||||||
| Iqbal Mohammed | Kadwani | ||||||
| Syed Kausar Kazmi | |||||||
| Shahrukh Jumani |
(resigned 29 June 2022) | ||||||
| Faheen Habib | |||||||
| Ahsan Zahir Rizvi | (resigned 7 | December 2021) | |||||
| Asif Rangoonwala | (appointed | 29 June 2022) | |||||
| Auditors | K KAssociates | ||||||
| Chartered Accountants |
and Registered Auditors | ||||||
| 305 Crown House, | Park | Royal | |||||
| North Circular Road | |||||||
| London | |||||||
| NW10 7PN | |||||||
| Bankers | Habib Bank AG Zurich | ||||||
| 142Wigmore Street |
|||||||
| London | |||||||
| W1U 3SH |
| YE | AR ENDED 31 | MARCH 202 | 2 | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | ||
| Funds | Funds | 2022 | 2021 | ||
| Note | |||||
| INCOME AND | |||||
| ENDOWMENTS FROM: | |||||
| Donations and legacies |
52,990 | 52,990 | 303,749 | ||
| Investments | 3,631 | 3,631 | 6,738 | ||
| TOTAL INCOME | 56,621 | 56,621 | 310,487 | ||
| EXPENDITURE ON: | |||||
| Raising funds | (774) | (774) | (216) | ||
| Charitable activities |
(29000) | (2,000) | (2,000) | ||
| TOTAL EXPENDITURE | (2,774) | (2,774) | (2,216) | ||
| NET INCOME/ | |||||
| (EXPENDITURE) | (2,774) | 56,621 | 53,847 | 308,271 | |
| OTHER RECOGNISED | |||||
| GAINS/(LOSSES) | 25,190 | 25,190 | (60,656) | ||
| NET MOVEMENT IN FUNDS | (2,774) | 81,811 | 79,037 | 247,615 | |
| RECONCILIATION | OF | ||||
| FUNDS: | |||||
| Total funds brought forward |
29,481 | 1,222,480 | 1,251,961 | 1,004,346 | |
| TOTAL FUNDS CARMED | |||||
| FORWARD | 8,9 | 26,707 | 1,304,291 | 1,330,998 | 1,251,961 |
| Note | |||||
|---|---|---|---|---|---|
| CURRENT ASSETS | |||||
| Debtors | |||||
| Cash at bank and in hand | 1@33/98 | 1,256,361 | |||
| CREDITORS: Amounts | falling due within one | IP33,398 | 1,256,361 | ||
| year | (2,400) | (4,400) | |||
| NKT CURRENT ASSETS | 1,330,998 | 1,251,961 | |||
| TOTAL ASSETSLESS | CURRENT LIABILITIES | 1,330,998 | 1,251,961 | ||
| TOTAL NKT ASSETS | 10 | 1@30,990 | 1,251,961 | ||
| FUNDS OFTHK CHARITY | |||||
| Restricted income funds | 1@04,291 | 1,222,480 | |||
| Unrestricted income funds |
26,707 | 29,481 | |||
| TOTAL CHARITY FUNDS | 10 | 1@30,990 | 1,251.961 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Cash flows from operating | activities | ||||
| Net income | 53,847 | 308,271 | |||
| Adjustments for: | |||||
| Foreign currency (losses)/gains | 25,190 | (60,656) | |||
| Other interest receivable and |
similar income | (3,631) | (6,738) | ||
| Changes in: | |||||
| Trade and other | debtors | ||||
| Trade and other | creditors | (2,000) | 2,000 | ||
| Cash generated | from operations | 73,406 | 242,877 | ||
| Interest received | 3,631 | 6,738 | |||
| Net cash from operating activities |
77,037 | 249,615 | |||
| Net increase in | cash and cash equivalents | 77,037 | 249,615 | ||
| Cash and cash | equivalents | at beginning | ofyear | 1,256,361 | 1,006,746 |
| Cash and cash | equivalents | at end ofyear | 1,333,398 | 1,256,361 |
| 2. | DONATION AND LEGACIES |
|||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | |||
| Funds | Funds | 2022 | 2021 | |||
| Donations | ||||||
| Donations | 52,990 | 52,990 | 303,749 | |||
| Gift Aid | ||||||
| 52,990 | 52,990 | 303,749 | ||||
| Restricted | Total | Funds | Total Funds | |||
| Funds | 2022 | 2021 | ||||
| 3. | INVESTMENT INCOME | |||||
| Bank interest income | 3,631 | 3,631 | 6,738 | |||
| 3,631 | 3,631 | 6,738 | ||||
| 12 |
| Restricted | Total Funds | Total Funds | ||
|---|---|---|---|---|
| Funds | 2022 | 2021 | ||
| 4. | OTHER RECOGNISED GAINS/(LOSSES) | |||
| Foreign currency (losses)/gains | 25,190 | 25,190 | (60,656) | |
| 25,190 | 25,190 | (60,656) |
| Unrestricted | Restricted | Total Funds | Total Funds | ||||
|---|---|---|---|---|---|---|---|
| Funds | Funds | 2022 | 2021 | ||||
| Charitable | expenditure | in education | |||||
| sector | |||||||
| Governance | costs —Audit fees | 2,000 | 2,000 | 2,000 | |||
| 2,000 | 2,000 | 2,000 | |||||
| 6. | DEBTORS | ||||||
| 2022 | 2021 | ||||||
| Gift Aid receivable | |||||||
| Other debtors | |||||||
| 7. | CREDITORS: Amounts | falling due | within one year | ||||
| 2022 | 2021 | ||||||
| Accruals | 2,400 | 4,400 | |||||
| 2,400 | 4,400 |
| UNRESTRI | CTED INC | OME FUNDS | |||
|---|---|---|---|---|---|
| Balance at | Incoming | Outgoing | Balance at | ||
| 31Mar 2021 | resources | resources | 31March 2022 | ||
| Unrestricted | funds | 29,481 | (2,774) | 26,707 |
| Y | Y | EAR ENDED 3 | 1 MARCH 2022 | |||
|---|---|---|---|---|---|---|
| 9. | RESTRICTED INCOME | FUNDS | ||||
| Balance at | Incoming | Outgoing | Balance at | |||
| 31Mar 2021 | resources | resources | 31March 2022 | |||
| Education | 1,222,480 | 81,811 | 1,304,291 | |||
| 10. | SUMMARY OFASSETS | AND LIABILITIESOF EACH CATEGORY OFFUNDS OF | ||||
| THE CHARITY | ||||||
| Unrestricted | Restricted | Total | ||||
| Funds | Funds | Funds | ||||
| 2022 | 2022 | 2022 | ||||
| Debtors | ||||||
| Cash at bank and | in hand | 29,107 | 1,304,291 | 1,333,398 | ||
| Creditors (falling | ||||||
| due within | one year) | (2,400) | (2,400) | |||
| Net assets | 26,707 | 1,304,291 | 1,330,998 | |||
| Unrestricted funds |
26&707 | 26,707 | ||||
| Restricted funds | 1,304,291 | 1,304,291 | ||||
| Total charity funds | 26,707 | 1,304,291 | 1,330,998 | |||
| Unrestricted | Restricted | Total | ||||
| Funds | Funds | Funds | ||||
| 2021 | 2021 | 2021 | ||||
| Debtors | ||||||
| Cash at bank and | in hand | 33,881 | 1,222,480 | 1,256,361 | ||
| Creditors (falling | ||||||
| due within | one year) | (4,400) | (4,400) | |||
| Net assets | 29,481 | 1,222,480 | 1,251,961 | |||
| 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 |