OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

← Yusuf Family Welfare Trust

2024-12-31-accounts

Charity registration number 1154466 (England and Wales)

YUSUF FAMILY WELFARE TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

YUSUF FAMILY WELFARE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Yasmin Ali Usman Ali Uwais Ali Zainab Ali Mariyum Ali Charity number (England and Wales) 1154466 Principal address 144 Deane Road Bolton BL3 5DL Independent examiner Xeinadin Ground Floor, Citygate Longridge Road Preston PR2 5BQ

YUSUF FAMILY WELFARE TRUST

CONTENTS

Page
Trustees report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 10

YUSUF FAMILY WELFARE TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their annual report and financial statements for the year ended 31 December 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and activities

The main objectives of the charity are to provide relief and support to widows, orphans and poor people living in third-world countries suffering from poverty, hardship and lack of basic resources.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Significant activities and achievements against objectives

Yusuf Family Welfare Trust continued to provide humanitarian support across economically disadvantaged regions internationally, focusing on food relief, access to clean water, medical assistance and basic education support.

The charity operates in India — including Maharashtra, Gujarat, Bihar and Delhi — and in parts of Africa such as Nigeria.

Maharashtra State (Aurangabad region)

Gujarat State (Bharuch, Surat, Ahmedabad)

Bihar State

Delhi

Nigeria

In summary: Our aim remains to maintain at least the same level of support as previous years, helping vulnerable individuals with dignity, compassion and sustained commitment.

YUSUF FAMILY WELFARE TRUST

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Public benefit

Grant-making

The charity provides direct financial assistance and grants to individuals in India and Nigeria where required based on assessed need and charity objects.

Financial review

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Plans for future periods

Yusuf Family Welfare Trust plans to continue its charitable activities at the same level and, subject to funding, aims to expand water-access projects and food relief programmes where possible. The trustees remain committed to delivering sustainable impact to vulnerable communities.

Structure, governance and management

The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.

The trustees who served during the year and up to the date of signature of the financial statements were: Yasmin Ali

Usman Ali Uwais Ali Zainab Ali Mariyum Ali

The trustees report was approved by the Board of Trustees.

Uwais Ali Trustee

31 October 2025

YUSUF FAMILY WELFARE TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF YUSUF FAMILY WELFARE TRUST

I report to the trustees on my examination of the financial statements of Yusuf Family Welfare Trust (the charity) for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

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 financial statements to be reached.

Xeinadin

Ground Floor, Citygate Longridge Road Preston PR2 5BQ 31 October 2025

YUSUF FAMILY WELFARE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted Unrestricted
funds funds
2024 2023
Notes £ £
Income from:
Donations and legacies 2 88,360 77,303
Investments 3 45,999 47,756
Total income 134,359 125,059
Expenditure on:
Charitable activities 4 139,642 124,736
Total expenditure 139,642 124,736
Net income/(expenditure) and movement in funds (5,283) 323
Reconciliation of funds:
Fund balances at 1 January 2024 460,129 459,806
Fund balances at 31 December 2024 454,846 460,129

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

YUSUF FAMILY WELFARE TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2024

Notes
Fixed assets
Investment property
8
Current assets
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due within
one year
10
Net current assets
Total assets less current liabilities
The funds of the charity
Unrestricted funds
11		 2024
£
646
14,691
15,337
(11,450)		 £
450,959
3,887
454,846
454,846
454,846		 2023
£
-
19,000
19,000
(9,830)		 £
450,959
9,170
460,129
460,129
460,129

The financial statements were approved by the trustees on 31 October 2025

Uwais Ali Trustee

YUSUF FAMILY WELFARE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

Charity information

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

YUSUF FAMILY WELFARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

YUSUF FAMILY WELFARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 88,360 77,303
Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Rental income 45,999 47,756

3 Income from investments

4 Expenditure on charitable activities

Charitable Charitable
Expenditure Expenditure
2024 2023
£ £
Direct costs
Charitable expenditure 125,624 111,528
Share of support and governance costs (see note 5)
Support 14,018 13,208
139,642 124,736
Analysis by fund
Unrestricted funds 139,642 124,736

YUSUF FAMILY WELFARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

5 Support costs allocated to activities

Property costs
Rates and water
Insurance
Bank charges
Governance costs
Analysed between:
Charitable Expenditure		 2024
£
639
10,361
1,184
214
1,620
14,018
14,018		 2023
£
-
10,790
238
176
2,004
13,208
13,208

6 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.

7 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

8 Investment property

Fair value
At 1 January 2024 and 31 December 2024
9
Debtors
Amounts falling due within one year:
Prepayments and accrued income
10
Creditors: amounts falling due within one year
Other creditors
Accruals and deferred income		 2024
£
646
2024
£
9,830
1,620
11,450		 2024
£
450,959
2023
£
-
2023
£
9,830
-
9,830

YUSUF FAMILY WELFARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

11 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
General funds
Previous year:
At 1
General funds		 January
2024
Incoming
resources
Resources
expended
At 31
December
2024
£
£
£
£
460,129
134,359
(139,642)
454,846
January
2023
Incoming
resources
Resources
expended
At 31
December
2023
£
£
£
£
459,806
125,059
(124,736)
460,129

12 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).