'J I'l,,t. I qsl, I IN 2023, MUNTADA AID WAS ABLE TO SERVE OVER rfS)AID 196.000 PEOPLE IN 22 COUNTRIES TRUSTEES REPORT & FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2023 J3 YOU GIVE WE DELIVER Ip
li. Table of Contents Chair and CEO'S Message Constitutional Information Who We Are Our Activities and Achievements 10 Risk Management 36 Future Plan 37 Financial Review 38 Compliance with Regulatory Requirements 39 Banking and Regulatory Restrictions 40 Structure, Governance and Management 41 In Preparing the Financial Statements 43 Financial Report 46 02
Chair and CEO'S Message AMID WAR AND NATURAL DISASTERS MUNTADA AID CONTINUE SUPPORTING THE VULNERABLE The world is facing significant and multifaceted challenges that require urgent attention. The ongoing conflict in Gaza has resulted in a tragic humanitarian crisis, with countless lives lost, tens of thousands injured, and over a million people displaced from their homes. This crisis has also heightened concerns about the stability of the wider region, with potential ripple effects that could lead to broader conflict and further hardship for many communities. In the Sahel, the situation remains dire as ongoing instability, economic struggles, and security concerns continue to deeply affect some of the most vulnerable populations. Many are facing extreme food shortages, leading to displacement and placing immense pressure on local resources and services. Similarly, the conflict in Sudan continues to displace hundreds of thousands of people, forcing them to seek refuge in neighboring countries. These host nations, which are already grappling with their own challenges, are struggling to provide adequate support and resources to those fleeing the violence. 03
The conflict in Ukraine is having significant impacts on global food security, particularly for marginalized communities. Combined with natural disasters, such as the earthquake in Syria and Turkey, and the flash floods in Libya, the effects are being felt worldwide. The growing challenges of climate change only add to these difficulties. Amid these crises, the role of charities like Muntada Aid has become even more critical. Thanks to your support, Muntada Aid made a major impact in 2023, assisting over 196,000 people across 22 countries. Beyond emergency relief, we focused on sustainable development through water security, healthcare, and education initiatives. This Impact Report for 2023 highlights how your generous contributions helped us make a real difference in saving lives. We are truly grateful for your belief in our mission and your continued support. Thank you for standing with us to bring hope and relief to those in need. You Give. We Deliver. Naif Sheikh CEO Muntada Aid EMERGENCY RELIEF RGENC 1114al 'Lii tSGAZA EMERGENCY RELIEF JULY 2024 EMERGENCY REL 04
You Give. I" We Deliver. IL 05
You Give. We Deliver. 06
Constitutional Information MUNTADA AID IS A UK REGISTERED CHARITY LIMITED BY GUARANTEE Date Registered as a charity: 4th June 2014 Principal address: Fourth Floor, LMC Business Wing 38-44 Whitechapel Road, London El ljx Charity Registration No: 1157117 Auditors: KWSR & CO 136 Merton High Street London SW19 Company Registration No. 08775742 Trustees: Musaed Bin Ajlan (Chairman) Hisham Bella (Treasurer) Imran Asif (Trustee) Bankers: Barclays Bank I Churchill Place, London E145HP Chief Executive Off icer (CEO): Naif M Sheikh Solicitors: Lee Bolton Monier-william I the Sanctuary, Westminster, London, SWIP 3JT Registered Off ice: Fourth Floor, LMC Business Wing 38-44 Whitechapel Road, London El lJX URL: vvww.muntadaaid.org 07
ho We Are Muntada Aid is a UK registered global NGO operating in 30 countries in Africa and Asia. We focus on education and child development. healthcare and wellbeing. water. sanitation and hygiene (WASH). economic empowerment and emergency responses. 08
Q> Main Objectives To reduce poverty by providing or assisting in the provision of: education, healthcare, WASH and alternative income generation programmes as well as the necessary support required to enable individuals to generate a sustainable income and thus become self-sufficient. The fulfilment of the above objectives is enshrined in our mission statement. Mission Our mission is to develop healthy and sustainable communities worldwide. Through implementing our innovative social, economic, education, and health and wellbeing programmes, we want to empower those denied social justice and human dignity, in order to make a lasting change in the world. Vision A caring and dignified world where everyone is free from poverty and has access to education and healthcare.
values Guided by the teachings of our Prophet and our Islamic principles, Muntada Aid has adopted the'l CARE, model of values. Inspiring Hope We believe that the world can be a better place, and our hope is that our actions will inspire others to be part of the change. Caring & Compassionate Our work is founded on showing care and compassion to all those that we work with. Accountability & Integrity: For us, having integ- rity means that we take responsibility for our actions and hold ourselves ac- countable in all that we do. Respect & Dignity: We will show respect & preserve the dignity of all those we work with by treating others as we wish to be treated. Excellence In working towards making the world a better place, excel- lence is the standard we set ourselves both in our conduct and our actions. 09
IMPACT 2023 YOU GIVE. WE DELIVER. 22 vvvvw.muntadaaid.org 020 7118 0777 Countries Our projects are funded by diaritable donations from people living in the UK and other parts of the world. How Your Donations Transformed Lives in 2023 Over Muntada Aid has been helping vulnerable communities for over 3 decades now. 196,000 Beneficiaries AREAS OFIMPACT WATER & SANITATION EMERGENCIES HEALTH 32,200 78,500 90 08 ,800 34,000 Countries Countries Countries Countries Countries Drop of Llfe PTC 10,500 30,000 1.04M Vocational School Bull ding Setup Completed M&ls 218 Benefidaries UGANDA 14,000 1,900 E(kthtlon Sportsorshlps Operatlons BANGLADESH 30 1400 20 260 Ethjcatlon SFx)nsorships Heart Operations CHAD 149 06 600 COUNTRIES OF IMPAcr 80 Benin Sudan Midwives Received Tralnlng Chad Tanzania Ethiopia Ghana Togo Uganda Z India 05 07 1250 Kenya Nepal Syria Palestine 6350 Pakistan Yemen Niger Senegal Somalia Sierra Leone Kosovo Libya 10
Drop of Life Over In Islam, giving water is considered as the best charity. 51.800 Daily Users Since the start of our operations decades ago, water and education were one of the first projects in Africa. Since then we have implemented thousands and thousands of these projects, across Africa and South Asia. This year was no different. One of Muntada Aid's core values is providing dignity to people we support. Keeping that in mind, we aim to provide clean water solutions to people within their communities and ease off their burden of daily searching for freshwater resources. Il 11
DROPOF LIFE IMPACT 2023 In 2023. we were able to provide clean drinking water to over 51,800 People IN8 COUNTRIES Programme Total No. Large Community Water Wells Medium Community Water Wells Shallow Water Wells 18 36 156 Solar Powered Water Stations Total number of Water Projects 218 Countries Total No. Mali- Large Community Water Wells Mauritania - Large Community Water Wells Niger Large Community Water Wells Medium Community Water Wells Solar Powered Water Stations 12 Z Ghana -medium Community Water Wells Bangladesh -shallow Wells Chad - Large Community Water Well Uganda - Medium Community Water Well Pakistan - Shallow Well 16 149 OVER 51.800 AVERAGE DAILY USER 12
Zainab the Girl in the Desert 11 Zainab is12 years old. She lives in the", village of Moicheere, some150 Kms north of the capital Niamey in Niger. Zainab is not in school. Like many girls in her community, girl child often miss education due to a lack of avenues and the family's socio-economic situation k She is the eldest of five childs.en and the, only girl. Her life was deeply tied with daily household chores, looking after herl. younger siblings and fetching water'erom the local well for the family. In most of Bl these communities, it is the responsibility of the young girls and women to fetch water for the household. Zainqb is n different. Before Muntada Aid install solar-powered water station in her community, Zainab would walk at'least four times a day in tempera'tures that [ could soar up to 47 degrees CelsiusT during summer. In 2022, Muntada Aid commissioned 35 solar water-powered stations in this region of Sub-saharan Africa to help women, children and families with safe access to clean drinking water. You can watch her story by scanning thef QR Code. . 13
Daughter of the Desert-Barakatu Water should not be a privilege. It is a human right. This is the story of Barakatu and how access to clean water is changing her life in the quiet. corner of the Sahara. Barakatu is18 and lives with her parents in the village of Tanka in Niger. Due to the family's socio-economic situation, Barakatu had to leave education after finishing her primary school. In 2022, Muntada Aid constructed 35 solar-powered water stations in Niger and allocated one to her village. In 2022, Muntada Aid constructed 264 similar water projects serving an estimated 102,000 people daily in eight countries. Since 2012, we have helped 1.8 million people with daily water needs. Please support of Drop of Life campaign and help us build more water projects in Niger and the rest of Africa. 11111 You can watch her story by scanning the QR Code. 14
Gift of Sight In Sul3-Saharan Africa, the most recent estimate of the t)urden of visual impairment indicates that 21.4 million people are visually impaired, including 4.8 million people who are blind. Despite cost-effective solutions, such as cataract removal and the provision of eyeglasses, an extremely high proportion, estimated at 2/3, of these cases of vision impairment could have been prevented or treated. An estimated 05 million people By cataracts each year. Blindness affects more than 4% of the population in parts of sub-saharan Africa. are blinded It is estimated that regionalty, just thr ophthalmologists per million population are available in Sub-saharan Africa. WHAT IS murADA AID DOING? With your su declaring a cataracts. In 2023, Muntada Aid carried out 2000 cataract surgeries in Niger, Mali, uganda and Bangladesh. ort, we are ight against Since 2021, WE have performed 6060 cataracts and lens replacement surgeries in these countries. 15
GIFf OF SIGHT IMPACT 2023 In 2023, Muntada Aid carried out 2000 cataract surgeries in 1,900 1 IN4 COUNTRIES Cataract surgeries in Niger, Mali, Uganda and Bangladesh. Programme No. Missions Gift of Sight Countries Total No. Beneficiaries Bangladesh 650 Nlger 750 L,Xb Uganda 200 300 1,900 OPERATIONS 4.111111 . 16
l Halima's Journey of Hope Halima Garba is 70 years old. She lives with her daughter and grandchildren in a small compound on the outskirts of Tahoua, some 300 kilometres from the capital Niamey in Niger. Halima has cataracts in both her eyes. The familys socio-economic situation and the poor national health infrastructure in Niger have kept her partially blind for the past five years. Halima heard about our mission in Tahoua over the radio and registered for the surgery. This is her journey of hope and light. You cary, )Natch her story by scanning the QR Code. 17
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Emergencies Muntada Aid Emergency Relief Programme Muntada Aid has a long history of helping those in need. Though our long term goals are sustainable development, we always support people caught in man-made or natural disasters. This year was no different. We helped people in Syria, Turkey, Yemen, Sudan, Mali, Libya and Gaza. Through Emergency Relief programme we were able to SUPPORT OVER 34,000 people in 7 Countries
MUNTADA AID EMERGENCY RELIEF IN 2023 34,000 People IN7 COUNTRIES Programme Total No. Yemen Emergency Turkeylsyria Earthquake 10,500 people 14,000 People 10,000 people 4000 people 1400 people Over 126,000 Medication Emergency Rellef Sudan Civil War Meals Libya Floods Emergency... Mali Civil War Emergency Meals 600 people 1250 people Over 112,500 6350 People Over 2350 Gaza Emergency Emergency Packs Medical Aid 1500 people 2500 people Hot Food IlkNQllllWIN115 GAZAEMERGVfrf Ib
Yemen Emergency Yemen conflict is now in the eighth year and country's socio-economic systems remain on the edge of total collapse. The impact of the escalating conflict in 2021 and the first quarter of 2022 resulted in increased displacement and further disruption of public services, pushing humanitarian needs higher. More than 23.4 million people (including12.9 million children), almost three-quarters of the population, need humanitarian assistance and protection in 2022, an increase of13 per cent from what was already an alarming figure in 2021. With more than 4.3 million internally displaced people since 2015, Yemen remains one of the largest internal displacement crises globally." Over 23.4 million WHAT IS MUNTADA AID DOING? Muntada Aid is in Yemen since 2020 providing food assistance to150 families (Over1000 people) at Taiz Refugee camp. Most people living at this camp are from the port city of Hodeidah after fighting erupted between the warring factions in 2018. Since June 2020, we have delivered almost 3 million meals in Yemen. 21
YEMEN IMPACT 2023 Since June 2020, we have delivered almost 3 Million Meals 10,500 beneficiaries Over 1.14 million meals distributed in 2023 22
DELIVERING HOPE
Little Hearts Every Heart Deserves to Beat Little Hearts is Muntada Aid's flagship project and was launched in April 2012. Since 2012, we have carried out We provide free life-saving heart surgeries to children with congenital heart defects from underprivileged backgrounds irrespective of gender, race or religion. 46 missions in13 countries During these deployments, we have In 2023, we travelled to five countries and performed 28,00 260 cardiac interventions and surgeries such operations and interventions 24
LITTLE HEARTS IMPACT 2023 260 Operations IN5 COUNTRIES Countries Total No. Tanzania 57 operations 49 operations 47 operations 37 Operations 20 Permanent Libya Kenya Kosovo Bangladesh 50 During mission 25
Why Education? Do You Know? Progress towards quality education was already slower than required before the pandemic, but COVID-19 has had devastating impacts on education, causing learning losses in four out of five of the104 countries studied by the United Nations. Approximately 300 Without additional measures million students will lack the basic numeracy and literacy skills necessary for success in life. an estimated 84 What is Muntada Aid Doing. million children and young people will stay out of school by Muntada Aid's Education programme currently operates in four countries, providing underprivileged children the opportunities to learn. Our fundamental aim is to keep children at schools by providing them with modern and free education along with nutritious food. 2030 26
ENLIGHTENED SMILES IMPACT 2023 In 2023, Muntada Aid started following education projects benefitting Over 410 Children IN4 COUNTRIES 90 full-term education sponsorships in Uganda and Bangladesh Beneficiaries Uganda - Primary Education and School Meals Programme Niger- School Meals Programme Mali - Vocational Training, Educational Scholarships and School Meals Programmes Bangladesh - Children's Education Sponsorship Programme 27
Feed the Forgotten Through Feed the Forgotten, we provide people with food packs that can support a family of 5 up to a month. Our food parcels constitute wheat flour or rice (dependent on the country), pulses, cooking oil, dry milk powder, salt and sugar. In 2023, Muntada Aid delivered over 02 Over million meals 828 In 2023, Muntada Aid served over 2.04 million meals in19 countries including Yemen. million people are facing chronic hunger worldwide. Bangladesh Nigeria Benin Senegal had Somalia Ethiopia South Africa hana Sudan Kenya Tanzania Mali Togo emen Uganda Niger 28
IMPACI 2023 Muntada Aid Served Over onA 2.04 17R500 million meals in19 countries Beneficiaries In Countries
Gaza Crisis Since the start of the ongoing war, Muntada Aid Is delivering emergency relief to eo war. In we served£6 400 children and families with psychological surport, medical aid and emergency ood. In 2023, we served 36,400 children and families with psychological support, medical aid and emergency food.
GAZA EMERGENCY Served over 36,400 People Gaza Emergency Total No. of Beneficiaries Over 36,400 People 30,000 people 2350 Psychological Support Emergency Packs Medical Aid 1500 People 2500 People Hot Food 31
Our Mothers Community Centres and Livelihoods Why Maternal Health Matters? The joy of being a mother is unmatched. It is one of the most significant act a human being can go through. It is critical for the continuity of human race. The research suggests that Odeaths are avoidable. Most of these deaths happen in developing countries. Sub-saharan Africa carries the heaviest burden of these deaths. Every year around 300000 Mothers or mothers-to-be, die in pregnancy and childbirth Community Centres Muntada Aid throughout Africa has a long history of building facilities that people in villages use for community services and worship. In, 2023, we built six such centres in four countries serving over1000 people daily. 32
WHAT IS MUNTADA AID DOING? Muntada Aid is committed to supporting the local communities to train and empower the maternal health practitioners and also provide mothers with vital medicines in Sub-saharan Africa. Over In In 2023 We built 80 02 06 In 04 Midwives Received Training Countries Community Centres Countries Togo l Mali Z Ghana ,M Uganda Sierra Leone Serving Over1000 Daily Niger 33
Hijrah Ride Hijrah Ride is a flagship partnership between Muntada Aid and H&KCC. This annual cycling event is a 3 day long marathon where cyclists from the various parts of the UK cycle from Mecca to Madinah, covering a distance of over 550 kilometres between the two of Islam holiest of the mosques. The journey is symbolic to the migration that Prophet Muhammad took as he was fleeing persecution in Mecca and travelling Madinah for safety. The third edition of Hijrah Ride also known as The Hijrah Ride is to support children living from various heart conditions, war and poverty. Hijrah Ride It is the world's first and only such cycling ride. 1445 will take placefrom 24th Jan to 3rd of Feb 2024. During the first two editions of Hijrah Ride we raised over £220,000 for children suffering from various congenital heart conditions. If you are interested in participating in this once in a lifetime opportunity, please email, info@muntadaaid.org for more details. 34
HIJRAH RIDE1444 THE MOVIE In 2023, 30 cyclists from the United Kingdom took part in the three-day long cycling marathon from Mecca to Medina. supporting children suffering from congenital heart defects in Africa. This is their story Scan the QR code to watch the full movie. For more information, please visit muntadaaidA>rylhijrahride SCAN ME 35
Risk Management: Muntada Aid diligently oversees and addresses significant strategic and operational risks through the vigilant oversight of its Senior Management Team. This assessment undergoes thorough scrutiny by the Finance Team before being presented to the Board of Trustees for their deliberation. The procedure entails the identification of various risk categories confronting the charity. Subsequently, these risks are documented within the Strategic Risk Register. The step involves a meticulous ranking of risks, considering both the probability of their occurrence and the extent of their potential repercussions. 36
Future Plan: The Board of Trustees along with the CEO are acutely aware of the challenges confronting Muntada Aid, and they are resolutely dedicated to addressing these challenges to ensure the uninterrupted support that Muntada Aid provides to its beneficiaries. However, given the intricacies of the current challenging environment, it's important to acknowledge that the resolution process might entail a longer timeframe than initially anticipated. The Board and the CEO have taken a proactive stance by committing to a fresh strategic plan spanning from 2023 to 2027. This comprehensive plan is set to serve as a guiding compass for Muntada Aid over the next five years, centering its efforts on catering to the needs of the end users within a framework of financial sustainability. In pursuit of enhanced sustainability, we have embarked on pioneering initiatives for fundraising and cost management. A significant development is the recent approval by the Board for a comprehensive review of the organization's finances and structure. The primary goal of this endeavor is to establish robust internal control mechanisms and a sound financial management framework, which will provide Muntada Aid with the means to effectively realize its strategic aspirations. Our commitment extends to not only capitalizing on the progress achieved but also to perpetuating our ongoing efforts to enhance operational efficiency. In the preceding year, Muntada Aid ushered in a more rigorous partner selection process, more frequent site visits, meticulous monitoring protocols, elevated due diligence procedures, and heightened oversight across all facets of the charity's operations by the senior management team. This concerted effort bore fruit in 2023 with the successful recruitment of several implementing partners, a direct result of the refined partner selection process and protocols. The forthcoming strategic plan will reinforce Muntada Aid's fundamental mission of 'serving humanity,, achieved through transformative programs tailored to empower the most vulnerable and marginalized segments of society. This strategic blueprint is underpinned by insights gleaned from extensive consultations at all organizational levels within the charity. 37
Financial Review: Through the implementation of the full cost recovery model, Muntada Aid has effectively stabilized as an organization. In the year 2023, significant progress was achieved as Muntada Aid successfully attained a positive balance in unrestricted funds. This accomplishment reflects the charity's forward momentum, signifying its ability to surmount the challenges of a challenging historical period. The charity is acutely aware of the upcoming hurdles, particularly the specific risks tied to establishing a sustainable financial model for its cost structure, augmenting levels of income for unrestricted funds, and enhancing the efficiency of its operational processes. These challenges, when compounded, will inevitably impact the charity's strategic blueprint. Moreover, the comprehensive adoption of the full cost recovery model has not only enabled the charity to accurately pinpoint the actual costs incurred but has also paved the way for successful implementation. Presently, Muntada Aid is on track to reap the rewards of this model in the times ahead. In 2023, Muntada Aid raised a total of £2,194,175. Our main sources of income were single donations from the UK public via our website, digital platforms (JustGiving, LaunchGood, Facebook), and other fundraising events. Our income consists of both restricted Income, which is designated for specific projects and must be used for that purpose only, and unrestricted Income, which can be used flexibly for operational needs and or projects. 38
Compliance with Regulatory Requirements: Muntada Aid has invested in a compliance function to ensure all aspects of compliance and standards are being managed effectively to continue to build public trust and to drive transparency and governance within the organisation. All fundraising activities go through a stringent process to ensure a business case proposal is submitted with rationale of the event, expenditure, income projection, programme, communication and press & media requirements- as well as relevant due diligence on stakeholders in line with our policy. We work very closely with all stakeholders (internal and external) and review compliance, branding, and legal queries as required for the betterment of the organisation. As part of our GDPR compliance process, we have established a security-conscious workflow and adequate administrative data & technical measures to protect personal data. We are establishing thorough controls over the entire IT infrastructure, building healthier data protection workflows, and streamlining security monitoring to better manage what is going on across our network. The GDPR process enabled us to build a better level of relationship with donors that are keen to hear from us and receive updated information about our campaigns and how they can be part of our journey by supporting us as required. As donors are becoming more and more conscious about how their data is being handled, we have been transparent and have taken a proactive approach to build trust in our brand. 39
Banking and Regulatory Restriction&' One of the identif led risks pertains to the potential con- straints on transferring funds to specif ic countries, coupled with the possibility of losing access to banking services. To counteract these risks, a series of measures have been im- plemented. These measures encompass fostering stronger ties with f inancial institutions, demonstrating sensitivity to their apprehensions, maintaining vigilance towards altera- tions in international fund transfer prerequisites, and estab- lishing diverse payment alternatives. To fortifythe organization's risk management framework and ensure robust compliance, the Board of Trustees has instituted an Internal Audit and Compliance Committee. This committee comprises non-executive specialists who bring their expertise to oversee matters related to risk, f i- nance, and auditing from both a strategic and governance standpoint. The committee's core objective is to conduct periodic audits and unannounced inspections, aimed at verifying the charity's adherence to its risk management policy. Through these measures, the organization seeks to proactively address and mitigate potential compliance and operational risks. 40
Structure, Governance and ManagemenL' The charity was incorporated on 14 November 2013 a company limited by guarantee. The charity is governed by its memorandum and articles of association approved in November 2013. Tbe charity was registered with charity commission as a charity on 4June 2014.
Organisational Structure: Following the changes put in place last year, the trustees have entrusted the day-to-day op- erations of the charity to the Chief Executive Officer, who remains answerable to the trus- tees. Regular meetings are convened by the trustees to evaluate the charity's performance. Concurrently, the Board of Trustees collaborates closely with key stakeholders to ensure compliance with regulatory obligations applicable to us as a charitable entity. The CEO is artively engaged with the Senior Management of the Charity, aiming to enhance Muntada Aid's abilityto effertively respond to emergencies and facilitate ongoing develop- mental initiatives. In this vein, a comprehensive framework encompassing line management assessments, staff growth initiatives, supeNision mechanisms, and a strurtured accounta- bility framework has been implemented. Furthermore, procedures addressing grievances and complaints have been established. In adherence to legal mandates, the Trustees furnish requisite reports to the Charity Com- mission and Companies House. These actions collectively manifest the organization's com- mitment to robust governance, effertive management, and alignment with statutory requi- sites. Pay Policy for Senior Staff: Pay for senior staff is reviewed annually. During Financial year 2023, there were no staff members who received a salary of more than £60.000. Board of Trustees: The Board of Trustees comprised of three trustees. They are responsible for all matters per- taining to governance of the charity and policy making. They are also responsible to provide adequate guidance and strategic directions to the management of the charity so that they can implement programmes and projects in an efficient and transparent manner, within its policyframework, thus fulfilling the stated aims and objertives of the charity. Trustees. responsibilities in relation to the financial statements: The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charitys transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial state- ments comply with the Charities Act 2011. The Trustees are responsible for preparing the Trustees, Report and the financial state- ments for each financial year in accordance with the law applicable to charities in England & Wales. The Trustees have elerted to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards) and applicable law, and in accordance with Accounting and Reporting by Chari- ties: Statement of Recommended Prartice (Charities SORP- FRS102). 42
In preparing the f inancial statements the trustees are required to: Select suitable accounting policies Observe the methods and principles in the Charities SORP (FRS102). Makejudgments and accounting estimates that are reasonable and prudent. State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. Prepare the financial statements on the going concern basis unless it is appropriate to presume that the charitywill continue its operation smoothly. Under Companies/Charity Law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity, its income and application of resources of the Charity for that period. Trustees are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detertion of fraud and other irregularities. So far as each of the Trustees at the date of this report is aware, there is no relevant audit information of which the charitys auditor is unaware. Each Trustee has taken all the steps that he/she ought to have taken as a trustee in order to make himself aware of any relevant audit information and to establish that the charitys auditor is aware of that information. The Trustees have exercised due diligence and care in protecting the integrity of the Charity and its repu- tation. The Trustees take this opportunity to thank Muntada Aid stakeholders, in particular our generous donors and benefactors and staff for their support and faith in Muntada Aid's commitment and ability to deliver relief and development programmes where needed most. 43
Governance code: The Charity Governance Code sets out the principles and recommended practice for good governance within the sector. The charity is reviewing its current governance ar- rangements against the principles within the code annually and address any issues raised. Public Benefit: The Trustees confirm that they abide by the Charity Commission's general guidance on public benefit in accordance with the Charities Act 2011 to have due regard to public benefit in pursuance of the Charitys aim. Riskand Audit Committee: The Board of Trustees have established an Internal Audit and Compliance Committee that includes non-executive experts that oversee risk, finance, and audit from a stra- tegic and governance perspective. The committee aims to conduct periodical audits and random checks to ensure we always comply with our risk management policy. The Key Duties of the Committee: Review the Charitys financial statements before submission to the Board. Investigate any activity, its effertiveness within its systems for the integrity of the Charitys internal financial controls, and assessing the effertiveness of the risk management framework. Seek any information that it requires from any employees of the charity. Oversee the internal control and risk management function within the Charity including procedures for deterting fraud, monitoring the effectiveness of the systems for the integrity of the Charity's internal financial controls and assessing the effectiveness of the risk man- agement framework. Obtain outside legal or independent professional advice, at the Charity's expense, if necessary. The Committee also considers the financial plans and performance of Muntada Aid and the cost effective and efficient operation of the Charity. 44
Roles of the CEO and Senior Management: The Trustees delegate the day-to-day running of the charity to the CEO and the Senior Management Team (SMT). The CEO reports to the chair of the Board on a biweekly basis and the Trustees sit for formal meetings three times a year. The organisation is made up of structured departments function- ing as independent units with clear reporting lines. Systems for line management, appraisals, staff de- velopment and supervision are in place, together with an accountabilityframework, and grievance and complaints procedures. O Trustee induction and recruitment: To make sure we benefit from a professional, appropriate board, we provide trustees with compre- hensive indurtion and on-going training in new or emerging areas or responsibility. New trustees receive a full overview of our strategic and operational functions, as well as welcome pack which includes a copy of the Memorandum and Articles of Association, the financial statements, Board minutes and the Charity Commission guidance The Essential Trustee,. Trustees are encouraged to identify their training needs. The CEO keeps trustees up to date with changes in regulatory standards and training possibilities. The Board of Trustees receives regular performance reports, annual financial reports, plans and budgets. Muntada Aid shall develop and maintain a skills matrix to identify and recruit trustees and in selecting individuals for appointment as charitytrustees, shall have regard to the benefits of diversity among the trustees and the skills, knowledge and experience needed for the effective administration of the Charity. MA Follows the Charities Art 2011 and the charity's governing document in recruiting Trustees. We follow the following criteria. Ensure trustees meet age, legal, and qualification requirements. Appoint trustees as per the charitys rules. Perform background and DBS checks, if necessary. Trustee signs a Declaration of Willingness. Notifythe Charity Commission of new appointments. Provide induction and ongoing training fortrustees. Ensure trustees understand their legal and financial responsibilities. ao Key Management Personnel and Remuneration Policy. The organisation is made up of structured departments functioning as independent units with clear reporting lines. Systems for line management, appraisals, staff development and supervision are in place, togetherwith an accountabilityframework as well as grievance and complaints procedures. The Senior Leadership Team (SLT) is considered to be key management personnel and consists of the CEO, heads of each Departments. Remuneration for all senior staff is based on annual appraisals carried out by the CEO or Chairman and then reviewed by an appropriate committee. The review of pay takes into consideration roles and responsibilities together with relevant market rates. 45
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MUNTADAAID FOR THE YEAR ENDED 31 DECEMBER 2023 Opinion We have audited the Financial Statements of Muntada Aid ('the charitable entity) for the year ended 31 st December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the cash flow state- ment and the notes to the financial statements, including summary of significant accounting policies.The fi- nancial reporting framework that has been applied in their preparation is applicable law and United King- dom Accounting standards, including the Financial Reporting standard 102 The Financial reporting stand- ard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the charitable companys affairs as at 31 st December 2023 and of its income and expenditure forthe yearthen ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Prac- tice; and have been prepared in accordance with the requirements of the Companies Act 2006 Basis of Opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applica- ble law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to Going Concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable companys ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 47
Other information The trustees are responsible for the other information. The other information comprises the information included in the annual report, otherthan the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report. In connection with our audit of the financial statements, our responsibility is to read the other informa- tion and, in doing so, consider whetherthe other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to deter- mine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the workwe have performed, we conclude that there is a material mis- statement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the trustees, report forthe financial year for which the financial statements are prepared is consistent with the financial statements; and The trustees, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of theTrustees. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, directors, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit; or the trustees were not entitled to prepare the financial statements in accordance with the small compa- nies regime and take advantage of the small companies, exemptions in preparing the trustees, report and from the requirementto prepare a strategic report. 48
Responsibilities of Trustees As explained more fully in the trustees, responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the fi- nancial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable companys abilityto continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic altemative but to do so. Auditor's responsibilities for the audit of the f inancial statements Our objectives are to obtain reasonable assurance about whetherthe financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that in- cludes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Mis- statements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design pro- cedures in line with our responsibilities, outlined above, to detect material misstatements in respect of ir- regularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We obtained an understanding of the legal and regulatory frameworks that are applicable to the chari- table company and determined that the most significant are the Statement of Recommended Practice 'Accounting and Reporting by Charities, (SORP), in accordance with the Financial Reporting Standard ap- plicable in the UK (FRS 102) and the Companies Act 2006. We gained an understanding of howthe charitable company complied with its legal and regulatory framework, including the requirement to properly account for restricted funds, through discussions with management and a review of the documented policies, procedures and controls, and legal correspond- ence. The audit team, which is experienced in the audit of charities, considered the charitable company's susceptibility to material misstatement and how fraud may occur. Our considerations include the risk of management override. Our approach was to checkthat the income from donations and charitable activities were properly identified and accurately disclosed, that expenditure complied with the control procedures and was ap- propriately charged. We also reviewed journal adjustments and unusual transactions for management override and considered the identification and disclosure of related paty transactions. 49
There are inherent limitations in the audit procedures described above and, the further removed non<ompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a material misstate- ment due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. Afurther description of our responsibilities forthe audit of the financial statements is located on the Fi- nancial Reporting Council's website at: https://www.frc.orq.uk/auditorsresponsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part16 of the Companies Act 2006. Our audit work has been undertaken, so thatwe might stateto the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone otherthan the charitable company and the charitable company's members as a body, for our audit work, forthis report orforthe opinion we have formed. Susan Rahman. Bsc FCA (Senior Statutory Auditor) KWSR & Co. Chartered Accountants & Registered Auditors 136 Merton High Street, London SWI 9 1 BA 24 September 2024 50
MUNTADAAID STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 CURRENT FINANCIAL YEAR Notes Unrestricted Funds Restricted Endowment Funds Funds Total 2023 Total 2022 INCOME FROM Donations and legacies 539,014 1,433,961 97 2,065,196 Job Retention Scheme Grant Income from other activities.. Rent income from properties 221,200 221,200 151,800 Total income 539.014 1.433,961 221.200 2.194.175 2.216.996 EXPENDITURE ON Raising funds Property management costs 75,796 219,603 295,399 16,328 285,578 29,124 16,328 Expenditure on charitable activities Economic Empowerment Emergency Relief Education 1,522 96,921 10,815 162,394 1,522 588,975 177,961 633,268 151,789 254,098 12,471 492,054 167,146 470,874 151,789 184,420 752,466 70,179 674,705 187,915 240,802 Healthcare WASH Religious Dues 69,678 Total Charitable expenditure 341.330 1.466.283 1.807.613 1.938.542 Total expenditure 417.126 1.685.886 16.328 2.119.340 2.253.243 Net income / (expenditure) and net movement in the funds for the year 121,888 (251,925) 204,872 74,835 (36,247) Transfers between funds 11 (81,494) 286,366 (204,872) Net Movement in funds 40.394 34.441 74.835 (36,247) Reconciliation of funds Funds balances brought forward 100,015 131,806 2,103,474 2,335,295 2,371,542 Funds balances carried forward 140.409 166.247 2.103.474 2.410.130 2.335.295 Hisham Bella Trustee & Treasurer 51
MUNTADA AID STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 PRIOR FINANCIAL YEAR Notes Unrestricted Funds Restricted Endowment Funds Funds Total 2022 INCOME FROM Donations and legacies 423,649 1,641,547 Job Retention Scheme Grant Incomefrom other activities.. Rent income from properties 151,800 151,800 Total income 423.649 1.641.547 151.800 2.216.996 EXPENDITURE ON Raising funds Property management costs 51,111 234,467 285,578 29,124 29,124 Expenditure on charitable activities Economic Empowerment Emergency Relief Education 12,472 6,858 62,631 183,427 12,471 752,466 70,179 674,705 187,915 240,802 745,609 7,548 491,279 187,915 177,583 Healthcare WASH Religious Dues 63,219 Total Charitable expenditure 328.607 1.609.934 1.938.542 Total expenditure 379.718 1.844.401 29.124 2.253.243 Net income / (expenditure) and net movement in the funds for the year 43,931 (202,854) 122,676 (36,247) Transfers between funds 11 30,028 (30,028) Net Movement in funds 73.959 (202.854) 92.648 (36.247) Reconciliation of funds Funds balances brought forward 26,056 334,660 2,010,826 2,371,542 Funds balances carried forward 100.015 131.806 2.103.474 2.335.295 52
MUNTADAAID BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2023 Notes Total 2023 Total 2022 FIXED ASSETS Tangible assets 3,120,313 3,121,532 3.120.313 3.121.532 CURRENT ASSETS Debtors Cash at bank and in hand 13,500 351,041 27,162 273,482 364.541 300.644 Creditors: falling due within one year (60,078) (72,235) Net current assets 304.463 228.409 Total assets less current liabilities Creditors: falling due after more than 1 year 3,424,776 (1,014,646) 3,349,941 (1,014,646) Net assets 2.410.130 2,335.295 THE FUNDS OF THE CHARITY: Unrestricted income funds General funds Designated funds Restricted income funds Endowment funds 138,216 2,193 166,247 2,103,474 96,603 3,412 131,806 2,103,474 Total charity funds 11 2.410.130 2.335,295 Hisham Bella Trustee & Treasurer 53
MUNTADAAID CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 CASH FLOW STATEMENT Net cash inflow from operating activities Payments to acquire tangible fixed assets 79,368 (1,809) 67,451 (441) Increase in cash in the year 77.559 67.010 NOTE TO THE CASH FLOW STATEMENT Reconciliation of chan in net funds to net cas operating activities es in movement inflow from Movement in net funds Add: Depreciation Decrease / (Increase) in debtors Increase / (Decrease) in long term liabilities Increase / (Decrease) in creditors 74,835 3,028 13,662 (36,247) 4,052 80,131 (12,157) 19,515 Net cash inflow / (outflow) from operating activities 79.368 67.451 Analysis of change in net funds Opening balance 01 January 2023 Closing balance 31 December 2023 Cash Flow Movement Cash at bank and in hand 273.482 77.559 351.041 54
MUNTADAAID NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023 (I) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) General information and basis of preparation Muntada Aid is a registered charitable company limited by guarantee in England & Wales. In the event of the charity being wound up, the liability in respect of the guarantee is lim- ited to £ 1 per member of the charity. The address of the registered office is given in the charity information on page 7 of these financial statements. The nature of the charity's operations and principal activities are development of education, child development, de- velopment of healthcare & wellbeing, development of water &sanitisation, and hygiene facilities, economic empowerment and emergency response. The charity constitutes a public benefit entity as defined by FRS102.The financial state- ments have been prepared in accordance with Accounting and Reporting by charities: Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the in the United Kingdom and Republic of Ireland (FRS 102),the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity.The significant ac- counting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless other- wise stated. All figures in this report are presented in pound sterling (£), and all values have been- rounded up to the nearest pound for simplicity and clarity. (b) Funds Unrestricted funds 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 pur- poses. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. En- dowment funds represents those assets which must be held permanently by the charity. Income arising on the endowments funds can be used in accordance with the objectives of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against fund. 55
MUNTADA AID NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023 (c) Income recognition All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be re- ceived. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this re- quires a level of performance before entitlement can be obtained then income is de- ferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the chari- ty has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expendi- ture. No amount is included in the financial statements for volunteer time in line with the SORP. Further detail is given in the Trustees, Annual Report. Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in stock and donations in the financial statements upon receipt. If it is im- practicable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a component of donations when it is distributed and an equivalent amount recognised as charitable expenditure. Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset. For legacies, entitlement is the earlier of the charity being notified of an impending distri- bution or the legacy being received. At this point income is recognised. On occasion lega- cies will be notified to the charity however it is not possible to measure the amount ex- pected to be distributed .On these occasions, the legacy is treated as a contingent asset and disclosed. Income from trading activities includes income earned from fundraising events and trad- ing activities to raise funds for the charity. 56
MUNTADA AID NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023 (c) Income recognition Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has Occurred. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends,interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable ac- curacy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charitys right to receive payment is established. Other income includes the conversion of endowment funds into income which arises when capital funds are released to an income fund from expendable endowments or when a charity has authority to adopt a total return approach to its permanent endow- ment fund. It also includes other income such as gains on disposals of tangible fixed assets. (d) Expenditure recognition All expenditure is accounted for on an accruals basis and has been classified under head- ings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that t the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings: * Cost of raising funds includes Printing, Mailing, Digital Marketing, Advertising, Sponsor- ship and merchandise, Treks and challenges Expenditure on charitable activities includes economic empowerment, emergency relief, education, healthcare, wash and religious Due Other expenditure represents those items not falling into the categories above. 57
MUNTADA AID NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023 (d) Expenditure recognition Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity. (e) Support cost allocation Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources overheads have been allocated on the basis of full cost recovery method based on expenditure proportion of each project and fundraising cost. Fund-raising costs are those incurred in seeking voluntary contributions and do not in- clude the costs of disseminating information in in support of the charitable activities. The analysis of these costs is included in notes (3-6) (f) Tangible fixed assets Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributa~ ble to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: IT equipment 25 % Straight line basis. The method has been changed from this year. ( Last year 25% reducing balance basis ). 58
MUNTADAAID NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023 (g) Debtors and creditors receivable / payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recog- nised in expenditure. (h) Loans and borrowings Loans and borrowings are initially recognised at the transaction price including transac- tion costs. Subsequently, they are measured at amortised cost using the effective inter- est rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. ( l ) Reserve At Muntada Aid, we are committed to maintaining a reserve of at least £50,000 to keep our work running smoothly, even in tough times. This reserve acts as a safety net, ensur- ing that we can continue providing essential services if unexpected challenges arise. Our Trustees regularly review this amount to make sure it reflects our growth and needs. Any use of these funds will be carefully considered and must be approved by the board. This policy helps us manage our finances responsibly and stay compliant with all legal re- quirements, so we can focus on making a positive impact. 59
MUNTADA AID NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 2 Donations and legacies 2023 Unrestricted 2023 Restricted Total 2023 2022 Unrestricted 2022 Restricted Total 2022 Received in UK Received in Overseas 514,234 1,160,182 1,674,416 409,370 1,261,396 1,670,766 514.234 1,160.182 1,674.416 409.370 1,261.396 1.670.766 Gift Aid- tax claim 24,780 53,779 78.559 14,279 50,151 64,430 Gift in Kind 220,000 220.000 330,000 330,000 539.014 1.433.961 1.972.975 423.649 1.641.547 2.065.196 60
MUNTADAAID NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Expenditure On Direct Costs Human Resources Support Total 2023 Costs Tota I 2022 Costs Raising Funds Property management costs 166,267 16,328 120,366 8,767 295.400 16.328 285,577 29,124 Charitable activities Economic Empowerment 1,321 131 70 1.522 12,471 Emergency Relief Education 511,290 50,729 26,957 588.976 752,466 154,487 15,328 8,145 177,960 70,179 Healthcare 549,739 54,544 28,984 633.267 674,705 WASH 131,768 13,074 6,947 151.789 187,915 Religious Dues Total Charitable activities 220,582 21,885 11,631 254,098 240,806 1.569.187 155.691 82.734 1.807.612 1.938,542 Total resources expended 1.751.782 276.057 91.501 2.119.340 2.253,243 Support costs Office Costs Finance & IT Costs Governance Costs Total 2023 Total 2022 Raising Funds 5,136 2,295 1,336 8.767 14,433 Charitable activities Economic Empowerment 41 18 70 859 Emergency Relief Education 15,793 7,057 4,107 26,957 51,808 4,772 2,132 1,241 8,145 4,832 Healthcare 16,980 7,588 4,416 28,984 46,454 WASH 4,070 1,819 1,058 6,947 12,938 Religious Dues 6,813 3,046 1,772 11,631 16,581 Total Support costs 53.605 23,955 13.941 91.501 147.905 61
MUNTADAAID NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 5 Governance Costs 2023 2022 Audit Fees 8,500 2,413 3,028 5,000 2,353 4,052 Legal And Professional Fees Depreciation Trustee's Meeting & Expense 72 13.941 11.477 6 Staff cost and number of employees The average monthly numbers of employees in the UK during the year were: Permanent 2023 2022 Part time Employment costs 2023 2022 Gross Pay Employer's national insurance Employer's pension costs Staff training and development cost 248,841 24,001 2,691 524 168,274 17,036 2,606 276.057 187,916 No employee earned more than £60,000 during theyear (2022.. None). 62
MUNTADAAID NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 7 TANGIBLE FIXED ASSETS Freehold Property IT Equipment Charity Total Cost At 01 January 2023 Additions 3,118,120 28,438 1,809 3,146,558 1,809 Disposals As at 31 December 2023 3.118.120 30.247 3.148.367 Depreciation At 01 January 2023 Charge for the year Disposals As at 31 December 2023 25,026 3,028 25,026 3,028 28.054 28,054 Net book values As at 31 December 2023 3.118.120 2.193 3.120.313 NBV at 31 December 2022 3.118.120 3.412 3.121.532 DEBTORS AND PREPAYMENTS 2023 2022 Trade Debtors Other Debtors 13,662 13,500 13,500 13.500 27.162 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade Creditors Taxation and Social Security NEST (Pension Provider) VAT control account Other Creditors and Accruals 60,078 42,876 4,304 515 24,540 60.078 72.235 10 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN 1 YEAR 2023 2022 Loan for propety purchase 1,014,646 1,014,646 63
MUNTADA AID NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 11 RESTRICTED FUNDS AND UNRESTRICTED FUNDS Asat 01 Jan 2023 Incoming Resources Resources Expended Transfers Asat 31 Dec 2023 Restricted funds Economic Empowerment Emergency Relief Education Healthcare 605,923 67,905 416,013 136,313 207,807 (561,860) (181,656) (541,923) (180,917) (219,530) 80,875 64,662 63,693 44,604 32,532 124.938 20.500 69,589 62,217 WASH Religious Dues Total Restricted funds 20.809 131.806 1.433.961 (1.685.886) 286.366 166.247 Endowment fund 2.103.474 221.200 (16.328) (204.872) 2.103.474 Unrestricted funds Programme funds General fund Designated funds (fixed assets) 32,871 63,732 3,412 521,792 17,222 (413,446) (3,680) (4,722) (75,553) (1,219) 136.495 1.721 2.193 Total Unrestricted funds 100.015 539.014 (417.126) (81.494) 140.409 Total funds 2.335.295 2.194.175 (2.119.340) 2.410.130 11.1 Transfer of Funds As noted, restricted funds are designated for the specific projects they were donated for, while unrestricted and endowment funds offer greater flexibility, allowing the charity to use them for general operations or other areas not covered by restricted funds. When restricted funds fall short and cannot fully meet the costs of a designated program or project, a transfer from unrestricted or endowment funds may be required to bridge the gap and ensure that the projects are adequately funded. 12 NET ASSETS BY FUNDS Unrestricted Restricted Total Tangible fixed assets Net current assets 2,193 138,216 3,118,120 (848,399) 3.120.313 (710,183) 140.409 2.269.721 2.410.130 13 ANALYSIS OF CHANGE IN NET FUNDS Opening balance 1 January 2023 Closing balance 31 December 2023 Cash flow movement Cash at bank and in hand 273,482 77,559 351.041 64
The Trustees Declare that they have read, understood and approved the report. Signed on behalf of the trustees." Hisham Bella Treasurer The Board of Trustees @ALL RIGHTS RESERVED 2023. MUNTADA AID, FOURTH FLOOR, LMC BUSINESS WING, 38- 44 WHITECHAPEL ROAD, E11JX REG CHARITY NO: 1157117 EMAIL: INFO@MUNTADAAID.ORG