| 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 | 12-14 |
| Registered | charity | name | The Habib University | Trust | Trust | |||
|---|---|---|---|---|---|---|---|---|
| Charity registration | number | 1152151 | ||||||
| Charity Commission | England | and Wales | ||||||
| Principal | office | Habib House | ||||||
| 42 Moorgate | ||||||||
| London | ||||||||
| EC2R6JJ | ||||||||
| Trustees | Charles Dorsey Mackay | |||||||
| James Caen | ||||||||
| Iqbal Mohammed Kadwani |
(resigned | 19May 2023) | ||||||
| Syed Kausar Kazmi | ||||||||
| Shahrukh Jumani (resigned |
29 | June 2022) | ||||||
| Faheen Habib | ||||||||
| Asif Rangoonwala(appointed | 29 June | 2022) | ||||||
| Murtaza Jessa (appointed | 1 | April 2023) | ||||||
| Auditors | KKAssociates | |||||||
| Chartered Accountants |
and | Registered | Auditors | |||||
| 305 Crown House, Park Royal | ||||||||
| North Circular Road | ||||||||
| London | ||||||||
| NW10 7PN | ||||||||
| Bankers | Habib Bank AG Zurich | |||||||
| 142Wigmore Street | ||||||||
| London | ||||||||
| W(U 3SH |
| YE | AR ENDED 31 | MARCH 202 | 3 | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | ||
| Funds | Funds | 2023 | 2022 | ||
| f | |||||
| INCOME AND | |||||
| ENDOWMENTS FROM: | |||||
| Donations and legacies |
2 | 18,275 | 18&275 | 52,990 | |
| Investments | 3 | 9,058 | 9,058 | 3,631 | |
| TOTAL INCOME | 27P33 | 27@33 | 56,621 | ||
| EXPENDITURE ON: | |||||
| Raising funds | (1472) | (1,272) | (774) | ||
| Charitable activities |
(2,014) | (2,014) | (2,000) | ||
| TOTALEXPEND~ | (3486) | (3486) | (2,774) | ||
| NET INCOME/ | |||||
| (EXPENDITURE) | (3,286) | 27,333 | 24,047 | 53,847 | |
| OTHER RKCOGNISED | |||||
| GAINS/(LOSSES) | 4 | 35,587 | 35,587 | 25,190 | |
| NKT MOVEMENT IN FUNDS | (3,286) | 62,920 | 59,634 | 79,037 | |
| RECONCILIATION | OF | ||||
| FUNDS: | |||||
| Total funds brought forward |
26,707 | 1404/91 | 1,330,998 | 1,251,961 | |
| TOTAL FUNDS CARRIED | |||||
| FORWARD | 8,9 | 23,421 | 1/67&211 | 1,390,632 | 1,330,998 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| stote | f, | |||||
| CURRENT ASSETS | ||||||
| Debtors | 6 | 7,775 | ||||
| Cash at bank and in hand | 1385~7 | 1,333,39$ | ||||
| 1493432 | 1,333,3og | |||||
| CREDITORS: Amounts | falling dne within | one | ||||
| year | 7 | (2,400) | (2,400) | |||
| NFT CURRENT ASSETS | 1490,632 | 1,330,99g | ||||
| TOTAI ASSETSLESS |
CURRENT LIABILITIES | 1490,632 | 1.330,998 | |||
| TOTAL NET ASSETS | 10 | Ir390,632 | 1,330,998 | |||
| FUNDS OFTHE CIIARITY | ||||||
| Restricted income funds |
1/67,211 | 1,304.291 | ||||
| Unrestricted income funds |
23,421 | 26,707 | ||||
| TOTAI, CHARITY FUNDS | to | 1490,632 | L330,990 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| f | ||||
| Cash tlovrs from operating | activities | |||
| Net income | 24,047 | 53,847 | ||
| Adjustments for: | ||||
| Foreign currency (losses)/gains | 35,587 | 25,190 | ||
| Other interest receivable snd |
similar income | (9,058) | (3,631) | |
| Changes in: | ||||
| Trade and other | debtors | (7,775) | ||
| Trade and other | creditors | (2,000) | ||
| Cash generated | from operations | 42,801 | 73,406 | |
| Interest received | 9,058 | 3,631 | ||
| Net cash from operating activities |
51,859 | 77,037 | ||
| Net increase in | cash and cash equivalents | 51,859 | 77,037 | |
| Cash and cash | equivalents | at beginning ofyear | 1833,398 | 1,256,361 |
| Cash and cash | equivalents | at end ofyear | 1/85,257 | 1,333,398 |
| 2. | DONATION AND LEGACIES |
||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | ||
| Funds | Funds | 2023 | 2022 | ||
| Donations | |||||
| Donations | 18,275 | 18475 | 52,990 | ||
| Gift Aid | |||||
| 18&275 | 18)275 | 52,990 | |||
| Restricted | Total Funds | Total Funds | |||
| Funds | 2023 | 2022 | |||
| 3, | INVESTMENT INCOME | ||||
| Bank interest income | 9,058 | 9,058 | 3,631 | ||
| 9,058 | 9,058 | 3,631 | |||
| 12 |
| Restricted | Total Funds | Total Funds | ||
|---|---|---|---|---|
| Funds | 2023 | 2022 | ||
| 4. | OTHER RECOGNISED GAINS/(LOSSES) | |||
| Foreign currency (losses)/gains | 35,587 | 35,587 | 25,190 | |
| 35,587 | 35,587 | 25,190 |
| 5, | CHARITAB | LE A | CTIV | ITIES | ||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | |||||
| Funds | Funds | 2023 | 2022 | |||||
| Charitable | expenditure | in education | ||||||
| sector | ||||||||
| Governance | costs | - Bank charges | 14 | 14 | ||||
| - Audit fees | Z,000 | 2,000 | 2,000 | |||||
| 2,014 | 2,014 | 2,000 | ||||||
| 6. | DEBTORS | |||||||
| 2023 | 2022 | |||||||
| Gill Aid receivable | ||||||||
| Other debtors | 7,775 | |||||||
| 7,775 | ||||||||
| 7. | CREDITORS: Amounts | falling due | within one year | |||||
| 20Z3 | 2022 | |||||||
| Accrusls | 2,400 | 2,400 | ||||||
| 2,400 | 2,400 |
| UNRESTRI | CTED INC | OME FUNDS | |||
|---|---|---|---|---|---|
| Balance at | Incoming | Outgoing | Balance at | ||
| 31Mar Z022 | resources | resources | 31March 2023 | ||
| Unrestricted | funds | 26,707 | (3/86) | 23,421 |
| YEAR ENDED 3 | YEAR ENDED 3 | YEAR ENDED 3 | 1 MARCH 2023 | |||
|---|---|---|---|---|---|---|
| 9. | RESTRICTED INCOME FUNDS | |||||
| Balance at | Incensing | Outgoing | Balance at | |||
| 31Mar 2022 | resources | resources | 31March 2023 | |||
| Education | 1@04/91 | 621920 | 1,367411 | |||
| 10. | SUMMARY OFASSETS | AND LIABILITIESOFEACH CATEGORY OFFUNDS OF | ||||
| THE CHARITY | ||||||
| Unrestricted | Total | |||||
| Funds | Funds | |||||
| 2023f | 2023 | |||||
| Debtors | ||||||
| Cash at bank and | in hand | 25,821 | 1@67,211 | 1493,032 | ||
| Creditors (falling | ||||||
| due within | one year) | (2,400) | (2,400) | |||
| Net assets | 23,421 | 1367,211 | 1,390,632 | |||
| Unrestricted funds |
23,421 | 23,421 | ||||
| Restricted funds |
1@67&211 | I@67,211 | ||||
| Total charity funds | 239421 | 1467,211 | 1,390,632 | |||
| Unrestricted | Restricted | Total | ||||
| Funds | Funds | Funds | ||||
| 2022 | 2022 | 2022 | ||||
| f | ||||||
| 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 | 1,304,29l | ||||
| Total charity funds | 26,707 | 1,304,291 | 1,330,998 |