Global Rahmah Foundation
Report and Financial Statements
For the year ended
31 October 2022 Charity no: 1154185
1
Global Rahmah Foundation
Annual report and financial statements for the year ended 31 October 2022
| Contents | Page |
|---|---|
| Legal and administrative information | 3 |
| Report of the trustees | 4 - 5 |
| Report of the independent Examiner’s | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes forming part of the financial statements | 9 - 10 |
2
Global Rahmah Foundation
Annual report and financial statements for the year ended 31 October 2022
Legal and administrative information
Trustees
Mr Hazem Abushaban Dr Mohammed Abu Elmeaza Dr Khalil Elbayouk
Chairman
Mr Hazem Abushaban
Correspondence address 1 Lloyds Street South Manchester M14 4EU
Bankers
HSBC Thorncliffe House 348-350 Oxford Road Manchester M13 9NG
Al Rayan Bank
3
Global Rahmah Foundation
Annual report and financial statements for the year ended 31 October 2022
Report of the trustees for the year ended 31 October 2022
The trustees present their report along with the financial statements of the charity for the year ended 31 October 2022. The financial statements have been prepared in accordance with the accounting policies set out on page 8 and fully comply with the charity’s trust deed and applicable law.
Structure, Governance and Management
The charity is registered with the charity commission on 14 October 2013 under charity number 1154185. It is governed by trust deed dated 11 October 2012 as amended on 13/10/2013
Objectives and Activities
The aim of the Global Rahmah Foundation charity will be:
The prevention or relief of poverty by providing grants, items and services to individuals in need and/ or charities, or other Organisations working to prevent or relieve poverty. The relief and assistance of people who are the victims of war or natural disaster, trouble or catastrophe.
Such charitable purposes for the public benefit as are exclusively charitable according to the laws of England and wales as trustees may from time to time determine.
The Trustees confirm that they have complied with the duty in section 4 of the Charities Act2006 to have due regard to the public benefit guidance published by the charity Commission in determining the activities undertaken by the charity
Financial review
During the year the charity received income donation of £914,125. Expenditure incurred during the year was £1,101,142. Overall there was a deficit of £187,017 and a positive bank balance of £481,819. In Accordance with SORP 2005. Support costs have been allocated between charitable activities and
fundraising. The statement of financial activities portrays that £1,087,406 or 98.8% of its total expenditure on charitable activities and £13,736 or 1.2% on governance activities.
4
Global Rahmah Foundation
Annual report and financial statements for the year ended 31 October 2022
Trustees’ responsibilities in relation to financial statements
Law applicable to charities in England and Wales requires trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgments and estimates that are reasonable and prudent;
-
state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees and signed on its behalf by:
Mr Hazem Abushaban Chairman 29/03/2023
5
Global Rahmah Foundation
Annual report and financial statements for the year ended 31 October 2022
Independent examiner’s report to the Trustees of Global Rahmah Foundation
I report on the accounts of the charity for the year ended 31 October 2022, which are set out on pages 7 to10.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts (under section 145 of the 2011 Act;
-
to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
-
to state whether particular matters have come to my attention.
Basis of independent examiners report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items 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 I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
(1) Which gives me reasonable cause to believe that in any material respect the requirements
-
to keep accounting records in accordance with section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Sayam & Co Accountants
Chartered Certified Accountant: 32 store street Stratford London E15 1PU Date : 29/03/2023
6
Global Rahmah Foundation
Annual report and financial statements for the year ended 31 October 2022
Statement of financial activities for the year ended 31 October 2022
| Notes Unrestricted | Restricted | Total |
Total |
|---|---|---|---|
| Funds | Funds | 2022 |
2021 |
| £ | £ |
£ | £ |
| Incoming Resources | |||
| General Donation 914,125 |
- | 914,125 | 977,296 |
| Total incoming resources 914,125 |
- |
914,125 | 977.296 |
| Resources Expended | |||
| Direct charitable expenditure21,087,406 | - 1,087,406 | 544,402 | |
| Governance costs313,736 | - | 13,736 | 3,938 |
| Total Resources expended 1,101,142 | - 1,101,142 | 548,340 | |
| Net incoming/ (outgoing) resources(187,017) | - (187,017) | 428,956 | |
| Balance at 1 November 2021 671,804 | - | 671,804 | 242,848 |
| Balance at 31 October 2022 484,787 | 484,787 | 671,804 |
7
Global Rahmah Foundation
Annual report and financial statements for the year ended 31 October 2022
| Balance Sheet as at 31 October 2022 2022 Notes £ £ Fixed Assets 4,333 Current Assets Cash at bank and in hand 481,819 481,819 CURRENT LIABILITIES Creditors: amounts falling due within one year 3(1,365) NET CURRENT ASSETS 480,454 NET ASSETS 484,787 FUNDS Surplus (deficit) for the year (187,017) Balance B/F 671,804 484,787 |
2021 £ £ 2,194 670,960 670,960 (1,350) 669,610 671,804 428,956 242,848 671,804 |
|---|---|
Approved by the trustees on 18/07/ 2021 and signed on its behalf by:
Mr Hazem Abushaban Chairman
8
Global Rahmah Foundation
Annual report and financial statements for the year ended 31 October 2022
1. Accounting policies
Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance With the Companies Act 2006, the Charities 2011, the statement of recommended practice (SORP 2005), " Accounting and reporting by Charities" published in March 2005 and applicable accounting standards.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Incoming resources
All incoming resources are included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
All expenditure is accounted for on an accruals basis as a liability is incurred and has been included under expense categories that aggregate all costs for allocation to activities.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
| 2-Charitable Expenditure | 2022 | 2021 |
|---|---|---|
| £ | £ | |
| Donation | 690,899 | 325,763 |
| Rent & Rates | 35,008 | 21,525 |
| Utilities | 1,914 | -- |
| Telephone & Internet | 3,565 | 2,539 |
| Salaries | 153,021 | 45,548 |
| Campaign | 150,321 | 92,786 |
| Postage & Printing | 31,646 | 20,825 |
| Consultancy | --- | 20,250 |
| Travel | 17,085 | 8,477 |
| Insurance | --- | 4,402 |
| Other expenses | 3,947 | 2,287 |
1,087,406 |
544,402 |
9
Global Rahmah Foundation
Notes forming part of the financial statements for the year ended 31 October 2022 (continued)
3. Management and administration costs
| Professional fees Bank charges Repair Depreciation |
2022 £ 1,365 1,479 9,835 1,057 _ 13,736 ___ |
2021 £ 1,350 2,588 --- --- _ 3,938 ___ |
|---|---|---|
4-Related Party Transactions
There is no transaction with any of trustees during the year.
10