**REGISTERED CHARITY NUMBER: 1154466** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **FOR** ## **YUSUF FAMILY WELFARE TRUST** Riley Moss 2018 Limited Chartered Accountants Riley House 183-185 North Road Preston Lancashire PR1 1YQ **YUSUF FAMILY WELFARE TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ||**Page**| |---|---| |**Reference and Administrative Details**|1| |**Report of the Trustees**|2 to 3| |**Independent Examiner's Report**|4| |**Statement of Financial Activities**|5| |**Statement of Financial Position**|6| |**Notes to the Financial Statements**|7 to 10| |**Detailed Statement of Financial Activities**|11| **YUSUF FAMILY WELFARE TRUST** **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2020** **Trustees** Yasmin Ali Usman Nazir Ali Nazir Yusuf Suleman Ali (deceased 31.10.20) Uwais Nazir Yusuf Ali **Principal address** 144 Deane Road Bolton Lancashire BL3 5DL **Registered charity number** 1154466 **Independent examiner** Riley Moss 2018 Limited Chartered Accountants Riley House 183-185 North Road Preston Lancashire PR1 1YQ Page 1 **YUSUF FAMILY WELFARE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020** The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019). ## **Objectives and activities** ## **Objectives** The main objectives is to provide relief and support to widows and poor people living in third world countries suffering from poverty. 31st October 2020 marked the passing of the Founder and former Head Trustee Nazir Yusuf Suleman Ali. He laid the foundation, structure and framework for others to continue his efforts in providing relief and aid to widows and orphans in 3rd world countries. His selfless actions and generous character will always be remembered. We pray God accepts his efforts for the needy and allows the Trust to continue what he started for many years to come. ## **Significant activities** Yusuf Family Welfare Trust's main objectives is to provide relief and support to widows, orphans and poor people living in 3rd world countries suffering from poverty. Yusuf Family Welfare Trust provides support in Aurangabad which is in the Maharashta State of India. The charity provided food parcels to widows and families struggling with hunger. The charity also provides assistance to individuals who cannot pay for medical fees. Moreover, the charity also creates Borewells and Handpumps in this area. Yusuf Family Welfare Trust in addition operates in the Gujarat state in India, in cities such as Bharuch, Surat and Ahmedabad. The charity provides support to widows by helping them with medical fees, school fees and general financial support. Yusuf Family Welfare Trust is also present in the West Bangal state of India, in their capital Kolkata where the charity has created mosques from scratch. Including rooms to pray and areas for people to cleanse themselves. Yusuf Family Welfare Trust carried provided assistance in Delhi also by way of providing blankets to poor individuals suffering from the cold climate in the winter. Yusuf Family Welfare Trust has provided help to African countries such as Uganda and Nigeria. Projects carried out has been to help widows, orphans and individuals suffering from HIV by way of food parcels and school sponsorship. ## **Public benefit** Children/young People Elderly/old People People With Disabilities ## **Grantmaking** Makes Grants to individuals in India and Uganda. ## **Volunteers** 3 Volunteers work with the charity. ## **Financial review** It is the policy of the charity to maintain unrestricted funds at a level which equate to approximately 12 months unrestricted expenditure. This provides sufficient funds to cover management, administration and support costs. Page 2 **YUSUF FAMILY WELFARE TRUST** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020** ## **Structure, governance and management Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. The trustees actively review the major risk which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks. Approved by order of the board of trustees on 29 October 2021 and signed on its behalf by: Uwais Nazir Yusuf Ali - Trustee Page 3 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YUSUF FAMILY WELFARE TRUST** ## **Independent examiner's report to the trustees of Yusuf Family Welfare Trust** I report to the charity trustees on my examination of the accounts of Yusuf Family Welfare Trust (the Trust) for the year ended 31 December 2020. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all 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: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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. Farook Patel FCA ICAEW Riley Moss 2018 Limited Chartered Accountants Riley House 183-185 North Road Preston Lancashire PR1 1YQ Date: ............................................. Page 4 **YUSUF FAMILY WELFARE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020** **----- Start of picture text -----**
2020 2019
Unrestricted Total
fund funds
Notes £ £
Income and endowments from
Donations and legacies 75,135 206,500
Investment income 2 46,338 28,003
Total 121,473 234,503
Expenditure on
Raising funds 3 1,614 4,048
Charitable activities
Charitable Expenditure 120,024 80,863
Total 121,638 84,911
NET INCOME/(EXPENDITURE) (165) 149,592
Reconciliation of funds
Total funds brought forward 478,748 329,156
Total funds carried forward 478,583 478,748
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## **Continuing operations** All income and expenditure has arisen from continuing activities. The notes form part of these financial statements Page 5 **YUSUF FAMILY WELFARE TRUST** **STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2020** **----- Start of picture text -----**
2020 2019
Unrestricted Total
fund funds
Notes £ £
Fixed assets
Investment property 5 450,959 450,959
Current assets
Debtors 6 - 6,000
Cash at bank and in hand 39,297 54,462
39,297 60,462
Creditors
Amounts falling due within one year 7 (11,673) (32,673)
Net current assets 27,624 27,789
Total assets less current liabilities 478,583 478,748
NET ASSETS 478,583 478,748
Funds 8
Unrestricted funds 478,583 478,748
Total funds 478,583 478,748
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The financial statements were approved by the Board of Trustees and authorised for issue on 29 October 2021 and were signed on its behalf by: Uwais Nazir Yusuf Ali - Trustee The notes form part of these financial statements Page 6 **YUSUF FAMILY WELFARE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **1. Accounting policies** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Investment property** Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. Investment income** |Rents received
Insurance recharge|**2020**
**£**
46,338
-
46,338|**2019**
**£**
27,750
253
28,003| |---|---|---| Page 7 continued... **YUSUF FAMILY WELFARE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **3. Raising funds** ## **Raising donations and legacies** |Support costs
**Investment management costs**
Property costs
Support costs
Aggregate amounts|**2020**
**£**
4
**2020**
**£**
410
1,200
1,610
1,614|**2019**
**£**
1,737
**2019**
**£**
907
1,404
2,311
4,048| |---|---|---| ## **4. Trustees' remuneration and benefits** There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019. ## **5. Investment property** |**Fair value**
At 1 January 2020
and 31 December 2020
**Net book value**
At 31 December 2020
At 31 December 2019|**£**
450,959
450,959
450,959| |---|---| The investment properties were valued by the trustees at market value. Page 8 continued... **YUSUF FAMILY WELFARE TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** **----- Start of picture text -----**
6. Debtors: amounts falling due within one year
2020 2019
£ £
Other debtors - 6,000
7. Creditors: amounts falling due within one year
2020 2019
£ £
Other creditors 11,673 32,673
8. Movement in funds
Net
movement At
At 1.1.20 in funds 31.12.20
£ £ £
Unrestricted funds
General fund 478,748 (165) 478,583
TOTAL FUNDS 478,748 (165) 478,583
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 121,473 (121,638) (165)
TOTAL FUNDS 121,473 (121,638) (165)
Comparatives for movement in funds
Net
movement At
At 1.1.19 in funds 31.12.19
£ £ £
Unrestricted funds
General fund 329,156 149,592 478,748
TOTAL FUNDS 329,156 149,592 478,748
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Page 9 continued... **YUSUF FAMILY WELFARE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **8. Movement in funds - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
234,503
234,503|**Resources**
**Movement**
**expended**
**in funds**
**£**
**£**
(84,911)
149,592
(84,911)
149,592| |---|---|---| ## **9. Related party disclosures** There were no related party transactions for the year ended 31 December 2020. Page 10 **YUSUF FAMILY WELFARE TRUST** **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020** **----- Start of picture text -----**
2020 2019
£ £
Income and endowments
Donations and legacies
Gifts 1 -
Donations 75,134 206,500
75,135 206,500
Investment income
Rents received 46,338 27,750
Insurance recharge - 253
46,338 28,003
Total incoming resources 121,473 234,503
Expenditure
Investment management costs
Property costs 410 907
Charitable activities
Charitable expenditure 110,505 80,863
Support costs
Management
Rates and water 8,853 46
Light and heat 4 588
Sundries 8 493
8,865 1,127
Finance
Bank charges 298 160
Governance costs
Accountancy and legal fees 1,560 1,854
Total resources expended 121,638 84,911
Net (expenditure)/income (165) 149,592
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