2023-12-31-accounts - Al Basar International Foundation

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AL BASAR FOUNDATION li ANNUAL REPORT 2023

AGENDA

AGENDA
A Message from our Chair	04
Why Sight?	05
Restoring Sight for Nadia	05
Strategy and aims	06
Key challenges	07
Our global impact	08
Our impact in conflict zones	09
Naser’s Story: From Darkness to Light	09
Prevention	10
Treatment	11
Alamgir’s Story of Hope	12
Empowerment	13
Financial report	15
Report of the Trustees	16
Report of the Independant Auditors	24
Statement of Financial Activities	28
Consolidated Balance Sheet	29
Charity Balance Sheet	30
Cash Flow Statement	31
Notes to the Cash Flow Statement	32
Notes to the Financial Statements	33
Partners and memberships	45

A Message from Our Chair

Reflecting on 2023, I am deeply impressed by our team’s resilience and dedication. Your collaborative spirit and the generous support of our donors and partners have enabled us to overcome significant challenges and achieve meaningful advancements in our mission.

We also extended our reach in Bangladesh, Niger, Nigeria, Pakistan, Sudan, and Yemen. A highlight of the year was the growth of our school eye-screenings programme, reaching 50 schools and providing essential eye care to thousands of children. By offering free eye tests and distributing glasses, we’ve enhanced their learning and school participation through clearer vision.

This past year, our expanded outreach programme profoundly impacted thousands at each clinic. For many, it was their first critical eye care experience, a milestone that fills us with immense pride.

Our institutions in Niger and Pakistan also trained and graduated a new generation of enthusiastic and dedicated healthcare professionals, securing the future of eye care in their communities. These achievements are a testament to our team’s unwavering dedication and the generous support of our donors and partners.

Further, our 29 eye hospitals across Africa and Asia continued to be a cornerstone of healthcare in their communities, offering a spectrum of vital services including prescribing glasses, performing cataract surgeries and specialised procedures. These services have significantly improved the quality of life of our patients’ globally.

As we celebrate our victories, we also prepare for future opportunities,aiming to make quality eye care accessible for all and eradicate preventable blindness globally.

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Dr Adel Al Rushood
Chairman
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Why Sight?

Vision is key to learning, working, and participating in society. Yet millions suffer from preventable blindness due to a lack of resources. Al Basar Foundation is eradicating preventable blindness by providing critical eye care in vulnerable communities across Africa and Asia.

By treating cataracts and refractive errors, we improve health, independence, and mental well-being. Our work reduces the economic burden on families, boosts productivity, and promotes education, fostering social inclusion and upholding healthcare as a human right. Sight is central to our mission, creating lasting impact toward global health, equality, and development goals.

Key facts

2.2 billion Key Facts:people globally suffer from near or distant vision impairment.

Globally 33 million people are living with preventable blindness

89% of visually impaired people live in low or middle-income countries

Restoring sight for Nadia

Nadia, an eight-year-old from Borboshilmandi, Bangladesh, was diagnosed with cataracts after her teacher noticed her struggling to read the classroom board. Her parents, concerned for her future, sought help through an eye care campaign organised by Al Basar. Nadia underwent successful cataract surgeries at Makkah Eye Hospital, restoring her vision. Her mother expressed heartfelt gratitude, as Nadia can now continue her education and embrace a brighter future.

Strategy and aims

Our Vision

We are creating a world free from preventable blindness, and where people have access to affordable and sustainable eye care.

Our Mission

We work with local partners to treat preventable blindness, and ensure we set up sustainable infrastructure that inspire local teams to save sight in their communities.

Guided by our values, we serve humanity with integrity and compassion, strive for innovation, commit to excellence and maintain ethical transparency.

Strategy:

Prevention

Treatment Empowerment

Al Basar International Foundation’s strategy focuses on a comprehensive approach to prevent, treat, and empower communities to combat blindness and eye diseases worldwide.

These initiatives, combined with cataract surgeries and distribution of glasses, have restored vision and transformed the lives of millions. In 2023 alone, our outreach reached over 600,000 people and performed more than 62,000 surgeries.

Prevention is at the heart of our mission, targeting underserved communities with initiatives like primary ophthalmology centres and school screening programmes. By detecting and addressing vision impairments early, especially in children, we not only improve individual eye health but also contribute to better educational outcomes and well-being. Our efforts in preventive care help bridge the gap in regions with limited healthcare access, ensuring long-term benefits for future generations.

Empowerment is key to sustaining our impact. By establishing training colleges and fostering local autonomy through governance policies, we are addressing the global shortage of eye care professionals in Africa and Asia. Our educational programs train local healthcare providers to lead and manage eye care services, ensuring that communities can sustain their own healthcare systems. In 2023, our training programmes produced 47 graduates, ready to take on leadership roles in their regions, furthering our mission to reduce blindness and eye disease on a global scale.

In the treatment pillar, Al Basar is committed to eliminating preventable blindness through a combination of establishing eye hospitals and outreach programmes in remote areas.

This tri-fold strategy of prevention, treatment, and empowerment reinforces our long-term vision of a world free from preventable blindness.

Our outreach efforts deliver specialised care directly to underserved populations, while our network of 29 hospitals across Africa and Asia provides essential eye care services.

Key Challenges

Addressing issues such as poverty, stigma, mobility, and education is crucial to achieving our goals and improving the lives of those affected by vision impairment.

Poverty

People in poverty face a higher risk of blindness due to limited healthcare access and costly treatments. Restoring vision can help break the poverty cycle by enabling employment and self-sufficiency.

Stigma

Blindness often carries negative stigmas, leading to social isolation. Restoring sight can allow individuals to regain their social status and fully participate in society.

Mobility

Around 75% of visually impaired individuals need help with daily tasks, often relying on their children. Restoring vision can restore their independence, easing the caregiving burden on their children.

Education

When children are freed from caregiving, they can focus on education, key to breaking the poverty cycle. Our school screenings also offer free eye care, essential for academic success.

Our Global Impact In 2023, Al Basar made a significant impact by transforming the lives of the neediest.

2023 Impact

174,888 surgeries

529,603 glasses distribution

2,131,993 total individuals served

2023 Income and expenditure

Income Expenditure £18,016,418 £18,237,223

Our impact in conflict zones

Sudan Crisis

Violent clashes between the Sudanese Armed Forces and Rapid Support Forces displaced 8.6 million people, further exacerbating Sudan’s disease outbreaks, and political instability. In 2023, the demand for urgent humanitarian aid surged, prompting a significant increase in our medical efforts.

In 2023, Al Basar provided essential eye healthcare services to 132,168 individuals in Sudan, conducted 96,332 screenings, distributed 26,480 pairs of glasses, and performed 9,356 surgeries.

Yemen Crisis

After nine years of conflict, 21.6 million people in Yemen require humanitarian aid, with 17.8 million in urgent need of healthcare services. Essential medicines and health workers are critically scarce, and only half of the healthcare facilities in the country are operational.

In 2023, 110,147 Yemenis received eye care assistance. Our initiatives included screening 77,240 people, performing 11,434 operations, and distributing 21,473 pairs of glasses. Our ongoing efforts aim to support the Yemeni population, focusing on mothers, children, the elderly, and individuals with disabilities.

Naser’s Story: From Darkness to Light

At 68, Naser, a skilled Yemeni rug weaver, struggled with vision loss due to cataracts. His once vibrant life, filled with intricate designs and joyful moments with loved ones, had dimmed to shades of grey. Relying on his grandson Ahmed for daily tasks, Naser’s hands, once adept at weaving, lay idle, and he had lost his passion for work. When Al Basar’s mobile eye clinic arrived, it brought hope. After cataract surgery, Naser’s vision returned in a burst of colour. Overwhelmed with emotion, he saw Ahmed clearly for the first time in years, reigniting his independence and passion. Naser’s restored sight transformed his world and reignited his purpose, showcasing the profound impact of vision restoration.

Our work

Prevention

Al Basar is dedicated to preventing blindness and eye diseases in underserved rural communities worldwide, where access to affordable eye care is limited. Our initiatives include establishing primary ophthalmology centres and conducting school screenings to detect and address vision issues early. By focusing on preventive care, we aim to improve eye health and deliver essential services inregions with scarce healthcare resources.

School

eye-screening programmes

Our school screening programme combats childhood vision impairment by providing free eye tests and glasses to children. Al Basar initiated these screenings in Bangladesh, examining 30,000 students in 50 Dhaka schools. Poor vision often affects students’ learning and participation, impacting their educational success.

Given that 80% of learning is visual, corrective eyewear can greatly improve educational outcomes and overall well-being. By ensuring clear vision, we enable children to fully engage in academic, social, and physical activities, thereby boosting self-esteem and addressing educational disadvantages.

Treatment

Al Basar is committed to eliminating preventable blindness and eye diseases globally. We overcome barriers like cost and accessibility through outreach and specialised programmes, and the development of eye hospitals. Our efforts ensure that individuals from all socio-economic backgrounds receive the essential, high-quality vision care they need.

Outreach programmes

A cataract is a condition where the eye’s lens becomes cloudy, leading to blurred vision. As the leading cause of global blindness, cataracts can significantly impair vision and lead to blindness if untreated, particularly in communities with limited access to healthcare.

Al Basar outreach programmes deploy specialised medical teams to remote areas in developing countries to provide critical medical care. Our initiative is dedicated to serving underserved populations to significantly reduce the global incidence of preventable blindness.

In 2023, we conducted 154 outreach programs, reaching 612,651 individuals. These initiatives included 62,218 eye surgeries, which restored vision, and the distribution of 152,198 pairs of glasses.

From July to August 2023, we conducted two specialised programs in Kano, Nigeria, focusing on a wide range of eye treatments. These included retinal, glaucoma, orbital, and squint surgeries. The programs served a total of 6,291 patients.

Alamgir’s Journey: A Story of Transformation

At just eight years old, Alamgir’s cataracts began to cloudhis vision, isolating him from his friends and disrupting his education. His father, a dedicated boatman in Lohajang, Bangladesh, struggled to support their family of six, making Alamgir’s condition even more distressing.

Hope arrived through Al Basar’s outreach programme, providing Alamgir with life-changing cataract surgery. The procedure was successful, and for the first time in years, Alamgir’s world was once again filled with vibrant colours and clarity.

The campaign, held at Mecca Eye Hospital in Dhaka, achieved remarkable outcomes: 459 successful surgeries, 4,882 comprehensive eye exams, and 1,859 pairs of glasses distributed. Alamgir’s story exemplifies the profound impact of humanitarian efforts and underscores the importance of accessible medical care towards transforming lives. His journey from darkness to light serves as a powerful reminder of the difference that compassion and collaboration can make.

Eye Hospitals

We aim to eliminate preventable blindness by establishing eye hospitals in developing countries. Operating 29 hospitals across Africa and Asia, we provide cataract and glaucoma treatments, prescription glasses, and other eye care services. In 2023, we served 1,348,544 people and performed 102,978 eye surgeries. Despite Covid-19 closures in India and the Philippines, we opened two new hospitals in Bangladesh.

Our Global Eye Hospitals

Yemen Sudan Niger 4 10 1

Bangladesh Nigeria Pakistan 5 2 7

Empowerment

Al Basar is committed to expanding global access to eye care and prevention, addressing the shortage of eye care professionals in Africa and Asia by establishing training colleges and enhancing skills in eye hospitals. Our initiatives foster local autonomy through governance policies, empowering communities to manage their own health services and outreach programmes. These efforts contribute to the global fight against eye diseases.

Training and development

Al Basar manages five programmes, each directed by medical experts from leading academic institutions. With facilities in Niger and Pakistan, our training centres provide extensive education for aspiring ophthalmologists, technicians, and nurses. Our goal is to develop skilled eye care professionals to address critical shortages in Africa and Asia. By training future leaders locally, we aim to overcome the barriers posed by inadequate medical training and enhance eye care services to reduce preventable vision impairment and blindness worldwide.

In 2023, we celebrated the graduation of 47 students in Niger and Pakistan from various programs, including Optometry, Ophthalmic Technician, and Refractionist Technician courses. Their academic success underscores their dedication and potential to positively impact their communities.

Unfortunately, the Makkah Ophthalmic Technical College in Omdurman was closed in March 2023 due to the ongoing conflict in Sudan.

Outreach Programmes Impact

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Countr Total reach
y
Sudan 132,168
Yemen 110,147
Bangladesh 99,219
Pakistan 58,191
Nigeria 53,982
Niger 52,704
Morocco 46,594
Somalia 31,222
Chad 27,715
Ethiopia 20,673
Mauritania 18,313
Burkina Faso 17,934
Congo Brazzaville 16,952
Gambia 15,841
Togo 12,419
Eritrea 13,194
Mali 12,228
Afghanistan 11,845
Cameroon 11,095
Burundi 10,728
Sri Lanka 10,156
Guinea Conakry 9,056
Ghana 8,629
Guinea Bissau 8,436
Sierra Leone 6,915
Djibouti 6,221
Gabon 4,490
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Report of the Trustees and Financial Statements for the year ended 31 December 2023

REGISTERED COMPANY NUMBER: 08690365 (England and Wales) REGISTERED CHARITY NUMBER: 1160758

Al Basar International Foundation Report of The Trustees For the Year Ended 31 December 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. 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 and aims

Al Basar International Foundation’s purpose is to:

Preserve and protect the health of patients of eye diseases by providing and assisting in the provision of facilities, support services and equipment.
Advance the education of the public in health care by the provision of lectures, forums and by the publication of newsletters devoted to healthcare.

Public benefit

The Strategic report refers to the work undertaken to further public benefit.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Grantmaking

The board of trustees approves the decision to fund specific projects following a recommendation by the senior management, and selection criteria that include:

The size and/or priority of the targeted eye health problem
The potential impact on preventable blindness

Al Basar International Foundation Report of The Trustees For the Year Ended 31 December 2023

Volunteers

Only the charity trustees are volunteers. The CEO also works as a volunteer.

The Trustees are volunteers, chosen because they have the diverse range of skills, knowledge and experience that we need to respond to the challenges of today. The Trustees, who served throughout the period up to the date of this report, currently meet at least every 6 months face-to-face and on an ad-hoc basis by telephone in the intervening time; minutes of meetings are taken. When new Trustees are appointed, they undergo an orientation to brief them on: their legal obligations under charity and company law, the Charity Commission guidance on public benefit, the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the Charity.

The Trustees of the UK Charity currently entrust Dr Fareed Mohammad Al Yagout to oversee the financial operations of the Charity. Dr Al Yagout is not remunerated for these services. The Key Management Personnel of the Charity are deemed to be the Trustees. None of our Trustees receive remuneration or other benefit from their work with the Charity.

Strategic Report

Achievement and performance

Fundraising activities

The charity did not generate any funds directly from the public through public fundraising activities, nor did it engage the services of professional fundraisers. Instead, its funding is derived from institutional contributions and subsidised fees paid by patients receiving treatment at the hospital.

No donor complaints were recorded

Our recent partnership with the Fundraising Regulator ensures that Al Basar adheres to ethical and transparent fundraising practices. As a member, Al Basar commits to the Code of Fundraising Practice, upholding high accountability standards to our donors, and strengthening our integrity and reputation as a UK charity.

Strategic alignment
Value for money
The fundability of the project

The need to maintain a balanced portfolio of programme activity All projects should fall within the Al Basar International Foundation’s approved project portfolio. Funds are transferred to Al Basar International Foundation on the basis of actual or forecast expenditure on the projects.

During the year, the Dubai office made grants to Nigeria and Bangladesh office and worldwide. Proposals and budgets are received by the Dubai office and scrutinised. Once approved by Management, grants are made against them.

Al Basar International Foundation Report of The Trustees For the Year Ended 31 December 2023

Strategic Report Financial review

Financial position

The Charity had income in the year of £18m (2022 £18.7m) and after spending £18.2m (2022 £16.5m), the charity made a net deficit of £0.2m (2022 Surplus of £2.2m). The charity’s carry forward reserves are £7.8m (2022 £8m).

Risk Management

The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees will establish appropriate formal methodologies to manage major risks as the operations of the Charity are developed. The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Reserves policy

Al Basar International Foundation reserves policy was reviewed and updated during August 2023. The trustees have set a level equivalent to three months of operating costs for the organisation as a desired level of reserve.

This fund is a contingency in the event of a sudden reduction in income, in order to protect the future operation of the organisation from the effects of any unforeseen variations in its income and expenditure. It also provides a cash flow for grants and contracts that are paid in arrears. The trustees have designated reserves where there are planned commitments that cannot be met by anticipated future income alone. These reserves are broken down into a number of funds that relate to:

The organisation’s responsibilities as an employer to hold sufficient funds to provide proper notice and redundancy costs in the event of closure.
General purpose reserve fund. The reserves policy and the levels of reserves required are reviewed yearly as part of the annual budgetary process.

Risk Management Process

The general risk management process will include the following steps:

An annual review of the previous year’s risk management report.
A risk identification exercise for the year ahead consisting of an evaluation of identified risks.
Recording and monitoring of risks using a risk register.
Assigning management and responsibility for risks to appropriate persons.

Risk management forms part of Al Basar International Foundation’s system of internal controls and is supported by the policies and procedures of the organisation, covering but not limited to:

IT and Data Protection
HR
Health & Safety
Finance Manual

Going concern

The Trustees have assessed the ability of the Charity to continue it’s activities and they are confident that the Charity has sufficient resources to continue operating for a t least 12 months from the date of this report. 50% of the Unrestricted funds in the accounts are reserved for the purposes stated above.

Principal risks and uncertainties

The Board of Trustees of Al Basar International Foundation is committed to maintaining a strong risk management framework to ensure the organisation is able to manage risk appropriately. This will be through maximising potential opportunities whilst minimising the adverse effects of risk by having appropriate systems and controls in place for reporting and action.

Safeguarding

At Al Basar International Foundation, we remain steadfast in our commitment to protecting people from harm, providing safe and effective care, and ensuring all our staff, contractors, and volunteers adhere to a strict code of conduct. In 2023, we advanced our efforts by collaborating with our programme implementation teams and partners to enhance our safeguarding policies and procedures further. This year, significant strides were made, including the comprehensive revision of our safeguarding policies. Our continuous commitment involves the ongoing development, review, and monitoring of our safeguarding systems to ensure they remain robust and consistent. These measures are critical to maintaining the highest safety standards for the people we serve.

Governance
Programmes
Fundraising

The risk of falling short of these standards is mitigated as far as possible by ensuring that appropriate policies and working practices are adopted in each area, department and that staff are adequately experienced and trained to manage this.

Future plans

The trustees of Al Basar International Foundation are exploring plans to restructure the organisation by adopting a localisation approach across its offices and branches. The idea behind this strategy is to transfer the management of our offices to local entities, allowing communities to take greater ownership of their healthcare services. This approach could potentially address local needs more effectively and enhance the impact of our work in ophthalmology and healthcare.

The proposed strategy also aims to raise awareness about preventable blindness and improve overall eye health within communities. By prioritising collaboration, knowledge sharing, and sustainable development, the plan envisions building self-sufficient systems that maintain high standards of care and community growth. At this stage, we are in the process of seeking legal advice to ensure that these plans align with local regulations and international best practices before moving forward with any formal implementation.

Al Basar International Foundation Report of The Trustees For the Year Ended 31 December 2023

Structure, Governance and Management

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Al Basar Foundation is a charitable company governed by the Memorandum And Articles Incorporated 13 Sep 2013 As Amended By Special Resolution(S) Dated 16/11/2014.

The company incorporated on the 13 September 2013 (company no: 08690365) and registered with the Charity Commission on the 05 March 2015 (Charity no: 1160758).

Recruitment and appointment of new trustees

The constitution requires a minimum of three Trustees and allows for a maximum of eight Trustees. There are four founding Trustees that will hold office indefinitely.

Organisational structure

During the period the current structure is that we have a board of trustees. Reporting directly to the trustees is the office administration officer. Since July 2022, we now have added more staff to the London office including a new global CEO, a head of operations and a project lead administrator.

Induction and training of new trustees

The founding Trustees have received the necessary training and advice. Any new Trustees will receive a training pack and a one to one session with a governance expert on appointment

Risk management

The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures. Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Reference and Administrative Details

Registered Company number

08690365 (England and Wales) Registered Charity number 1160758

Registered office

Building 3 566 Chiswick Road London W4 5YA

Trustees

Dr Adel Abdulaziz Al Rushood Director Dr Abdulaziz Adel Abdulaziz Al Rushood Assistant Professor Dr Abdullah Nasser Alsuwaidan Manager, Molecular Diagnostics Laboratory Dr Fareed Mohammad Alyagout Director Dr Sikander Ali Arshad Doctor Dr Abu Obieda Hagana Doctor Dr Muhammed Babar Qureshi Director Dr Aamina Qureshi Registrar

Auditors

Shareef & Co Statutory Auditors 4 Highlands Court Cranmore Avenue Solihull West Midlands B90 4LE

Solicitors

Lee Bolton Monier -Williams LLP 1 The Sanctuary Westminster London SW1P 3JT

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

Bankers

Barclays Bank PLC 54 Lombard Street London EC3P 3AH

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance.Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements

Al Basar International Foundation Report of The Trustees For the Year Ended 31 December 2023

Statement of Trustees’ responsibilities

The trustees (who are also the directors of Al Basar International Foundation for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and 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 inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

there is no relevant audit information of which the charitable company’s auditors are unaware; and - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, Shareef, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors,

on ............................................. and signed on the board’s behalf by:17/09/2024

......................................................................... Dr Adel Abdulaziz Al Rushood - Chairman

Report of The Independent Auditors to the Members of Al Basar International Foundation

Opinion

We have audited the financial statements of Al Basar International Foundation (the ‘charitable group/company’) for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the charitable group’s/company’s affairs as at 31 December 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate 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’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ 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.

As explained more fully in the Statement of Trustees’ Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial 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 company’s ability to 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 charitable company or to cease operations, or have no realistic alternative but to do so.

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 company’s 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.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the 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 determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement 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 Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Report of The Independent Auditors to the Members of Al Basar International Foundation

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes 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. Misstatements 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our assessment focused on key laws and regulations the Company has to comply with and areas of the financial statements we assessed as being more susceptible to misstatement. These key laws and regulations included but were not limited to compliance with the Companies Act 2006, United Kingdom Generally Accepted Accounting Practice and relevant tax legislation.

We are not responsible for preventing irregularities. Our approach to detect irregularity included, but was not limited to, the following:

obtaining an understanding of the legal and regulatory framework applicable to the Company and how the Company is complying with that framework, including a review of legal and professional nominal codes;

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Naeem Shareef (Senior Statutory Auditor) for and on behalf of Shareef Statutory Auditors 4 Highlands Court Cranmore Avenue Solihull West Midlands B90 4LE

Date: 17 September 2024

obtaining and understanding the Company’s policies and procedures and how the Company has complied - with these, through discussions and walkthrough testing of controls;
obtaining an understanding of the Company’s risk assessment process, including the risk of fraud;
designing our audit procedures to respond to our risk assessment; and
performing audit work over the risk of management override of controls, including testing journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transaction outside the normal course of business and reviewing accounting estimates for bias.

In response to the risk of irregularities in relation to non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

agreeing financial statement disclosures to underlying supporting documentation;
enquiring of management as to actual and potential litigation and claims; and
reviewing correspondence with HMRC and associated parties.

Whilst considering how our audit work addressed the detection of irregularities, we also consider the likelihood of detection based on our approach. Irregularities from fraud are inherently more difficult to detect than those arising from error.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.

The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the IndependentAuditors.

Consolidated statement of financial activites (Incorporating income and Expenditure Account) for the year end 31 December 2023

Unrestricted Fund £	Restricted Fund £	2023 Total Funds £	2022 Total Funds £
1,720,364 19,977 1,740,341	12,347,542 3,928,535	14,067,906 3,948,512	13,851,888 4,889,376
	16,276,077	18,016,418	18,741,264
1,167	-	1,167	9,509
1,884,257 1,885,424 (145,083) (173,914) (318,997) 2,111,013 1,792,016	16,351,799 16,351,799	18,236,056 18,237,223	16,504,336 16,513,845 2,227,419 - 2,227,419 5,787,903 8,015,322
	(75,722) 173,914	(220,805) -
	98,192 5,904,309 6,002,501	(220,805) 8,015,322 7,794,517

Consolidated Balance Sheet 31 December 2023

Unrestricted Fund £ 631 3,784,241 3,784,872	Restricted Fund £ - - -	2023 Total Funds £ 631 3,784,241 3,784,872	2022 Total Funds £ 916 4,131,197 4,132,113
215,674 12,180 417,599 645,453 (2,638,309) (1,992,856) 1,792,016 1,792,016	727,888 3,841,312 1,433,301 6,002,501 - 6,002,501 6,002,501 6,002,501	943,562 3,853,492 1,850,900 6,647,954 (2,638,309) 4,009,645 7,794,517 7,794,517	860,686 5,479,637 3,609,026 9,949,349 (6,066,140) 3,883,209 8,015,322 8,015,322 2,111,013 5,904,309 8,015,322
		1,792,016 6,002,501 7,794,517

The financial statements were approved by the Board of Trustees and authorised for issue on .............................................and were signed on its behalf by:17/09/2024

............................................. Dr Adel Al Rushood - Chairman

Charity Balance Sheet 31 December 2023

Charity Balance Sheet 31 December 2023
Notes FIXED ASSETS Intangible assets 11 Tangible assets 12 CURRENT ASSETS Stocks 13 Debtors 14 Cash at bank CREDITORS Amounts falling due within one year 15 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 16 Unrestricted funds Restricted funds TOTAL FUNDS	Unrestricted Fund Restricted Fund £ £ 2,057	2023 Total Funds 2022 Total Funds £ £ - - 2,057 1,762 2,057 1,762 - - 1,168,450 1 ,741,947 960,671 1,518,932 2,129,121 3 ,260,879 (499,448) (2,287,044) 1,629,673 973,835 1,631,730 975,597 1,631,730 975,597 83,764 81,671 1,547,966 893,926 1,631,730 975,597
	2,057 - 581,155 587,295 - 960,671
	581,155 1,547,966
	(499,448)
	81,707 1,547,966
	83,764 1,547,966
	83,764 1,547,966

Cash Flow Statement for the year ended 31 December 2023

Notes Cash fows from operating activities Cash generated from operations 1 Net cash (used in)/provided by operating activities Cash fows from investing activi- ties Purchase of tangible fxed assets Exchange rate movements in Fixed Assets Net cash provided by/(used in) investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period	Notes Cash fows from operating activities Cash generated from operations 1 Net cash (used in)/provided by operating activities Cash fows from investing activi- ties Purchase of tangible fxed assets Exchange rate movements in Fixed Assets Net cash provided by/(used in) investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period
		2023 £ (2,028,538) (2,028,538) 3,784,872 (347,874) 618,286 270,412 (1,758,126) 3,609,026 1,850,900	2022 £ 3,525,204 3,525,204 - (1,081,496) - (1,081,496) 2,443,708 1,165,318 3,609,026

The financial statements were approved by the Board of Trustees and authorised for issue on .............................................and were signed on its behalf by:17/09/2024

............................................. ............................................. Dr Adel Al Rushood - Chairman Dr Fareed Al-Yagout - Treasurer

Notes to the cash flow statement for the year ended 31 December 2023

1. Reconciliation of net (expenditure)/ Income to net cash flow from operating activities

activities
Net (expenditure)/income for the reporting period (as per the State- ment of Financial Activities) Adjustments for: Depreciation charges (Increase)/decrease in stocks Decrease/(increase) in debtors (Decrease)/increase in creditors Net cash (used in)/ provided by operations	2023 2022 £ £ (220,805) 2,227,419
	76,829 (82,876) 1,626,145 (3,427,831) (2,028,538)	230,590 78,933 (558,761) 1,547,023 3,525,204

Notes to the financial statements for the year ended 31 December 2023

1. Accounting Policies

Basis of preparing the financial statements

The financial statements of the charitable group/company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The consolidated financial statements consolidate the financial statements of the charity and its subsidiary undertakings drawn up to 31 December 2023.

No statement of financial activities is presented for the charity as permitted by section 408 of the Companies Act 2006. The charity had a deficit for the financial year of £312,903 (2022 - surplus of £975,073).

A subsidiary is an entity controlled by the charity. Control is achieved where the charity has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

The results of subsidiaries acquired or disposed of during the year are included in the statement of financial activitiesfrom the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.

2. Analysis of changes in net funds

2. Analysis of changes in net funds
Net cash Cash at bank Total
	At 1.1.23 £ 3,609,026 3,609,026 3,609,026	2023 £ (1,758,126)	2022 £ 1,850,900 1,850,900 1,850,900
		(1,758,126)
		(1,758,126)

The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.

Inter-company transactions, balances and unrealised gains on transactions between the charity and its subsidiaries, which are related parties, are eliminated in full. Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.

Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination. Total comprehensive income is attributed to non-controlling interests even if this results in the noncontrolling interests having a deficit balance.

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.

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Notes to the financial statements - continued for the year ended 31 December 2023

1. Accounting Policies - continued

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.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses

Allocation and apportionment of support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property - 2% on cost Plant and machinery - 10% on cost Fixtures and fitting - 10% on cost Motor vehicles - 20% on cost

Notes to the financial statements - continued for the year ended 31 December 2023

1. Accounting Policies - continued

Foreign currencies

The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).

Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for:

1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above);

2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and

3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment

Going concern

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going

concernn or any significant areas of uncertainty that affect the carrying value of assets held by the charity

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation 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.

Foreign currencies

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.

2. Donations and legacies

Donations to major appeals Fees and supplies . Other Income	2023 £ 2022 £	2023 £ 2022 £	2023 £ 2022 £	2023 £ 2022 £
		14,067,906	13,851,888
	2023 £ 2022 £ 3,948,512 4,889,376

3. Other Income

Notes to the financial statements - continued for the year ended 31 December 2023

Notes to the financial statements - continued for the year ended 31 December 2023

4. Raising Funds

Raising donations and legacies

Advertising, events and publications Support costs	2023 2022 £ £ 1,167 628 - 8,881
	1,167 9,509

7. Net Income (expenditure)

Auditors’ remuneration Depreciation - owned assets Other intangible fxed assets amortisation Net income/ (expenditure) is stated after charging/ (crediting):
		2023 £ 44,064 76,544 285	2022 £ 30,873 230,398 192

8. Trustees’ remuneration and benefits

There were no trustees’ remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

5. Charitable activities costs

Direct Costs	Support costs(see note 6)	Totals
£	£	£
13,665,688	4,570,368	18,236,056

Charitable activities

6. Support Costs

Charitable activities	Management Finance Other Gover- nance Costs Totals £ £ £ £ £ 3,971,876 17,743 536,685 44,064 4,570,368

Support costs, included in the above, are as follows

Wages Social security Pensions Support costs - Admin Support costs - Finance Support costs - premises Support costs Auditors’ remuneration	2023 Charitable activities 2022 Total activities £ £ 2,240,378 2,143,043 53,177 49,044 103,246 98,267 1,575,075 2,339,622 17,743 520,157 526,637 659,415 10,048 8,881 44,064 30,873
	4,570,368 5,849,302

Trustees’ expenses

There were no trustees’ expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

9. Staff Costs

Stf Ct
Wages and salaries Social security costs Other pension costs a oss
	2023 £ 2,240,378 53,177 103,246	2022 £ 2,143,043 49,044 98,267 2,290,354
	2,396,801

The total employee remuneration of the key management personnel of the group were £121,765.

The average monthly number of employees during the year was as follows:

Charitable activities Admin and Support No employees received emoluments in excess of £60,000.
		2023 162 141 303	2022 141 134 275

Notes to the financial statements - continued for the year ended 31 December 2023

12. TANGIBLE FIXED ASSETS

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Fund £	Restricted Funds £	Total Funds £ 13,851,888 4,889,376 18,741,264 9,509 16,504,336 16,513,845 2,227,419 - 2,227,419 5,787,903 8,015,322 Other intangible fxed assets £ 1,307 391 285 676 631 916 COST At 1 January 2023 Additions Disposals Exchange diferences At 31 December 2023 DEPRECIATION At 1 January 2023 Charge for year Eliminated on disposal At 31 December NET BOOK VALUE At 31 December 2023 At 31 December 2022 COST At 1 January 2023 Additions Disposals Exchange diferences At 31 December 2023 DEPRECIATION At 1 January 2023 Charge for year Eliminated on disposal At 31 December NET BOOK VALUE At 31 December 2023 At 31 December 2022
			Freehold property £ 1,360,170 7,669 - (242,515) 1,125,324 20,064 906 -	Plant and machinery £ 2,144,832 95,353 - (255,284) 1,984,901 1,583,770 50,019 -	Fixtures and fttings £ 668,887 11,683 (3,990) (109,416) 567,164 503,758 18,646 (3,988)
955,619 354,198 1,309,817 8,881 313,548 322,429 987,388 (1,274,455) (287,067) 2,398,077 2,111,010	12,896,269 4,535,178 17,431,447 628 16,190,788 16,191,416 1,240,031 1,274,455 2,514,486 3,389,826	13,851,888 4,889,376 18,741,264 9,509 16,504,336 16,513,845 2,227,419 - 2,227,419 5,787,903 8,015,322




			20,970	1,633,7896	518,416
			1,104,354 1,340,106	351,112 561,062	48,748 165,129

			Motor Vhicles £	Capital work in progress £ Totals £
	5,904,312

			170,012 - - (11,069) 158,943 129,262 6,973 - 136,235 22,708 40,750	2,024,150 233,169 - - 2,257,319 - - - -	6,368,051 347,874 (3,990) (618,284) 6,093,651 2,236,854 76,544 (3,988) 2,309,410 3,784,241 4,131,197
				2,257,319 2,024,150

11. INTANGIBLE FIXED ASSETS

Notes to the financial statements - continued for the year ended 31 December 2023

13. STOCKS

3 STOCKS
Stocks Finished Goods .	2023 £ 2022 £ 269,349 343,231 674,213 517,455
	943,562 860,686

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


Group 2023 £ 3,685,466 - 168,026 3,853,492	Charity 2023 £ 1,162,994 - 5,456 1,168,450	Group 2022 £ 3,636,787 99,251 1,651	Charity 2022 £ 1,741,947 - - 1,741,947
		3,737,690

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2023 Group £ 135,555 1,822,299 680,455 2,638,309	2023 Charity £ - 4,482 494,966 499,448	2022 Group £ 2,451,890 1,913,976 1,700,276	2022 Charity £ 1,967,096 48,746 271,202 2,287,044
		6,066,141

16. MOVEMENT IN FUNDS


At 1.1.23 £ 2,111,013 2,930,596 - - 2,843,927 129,786 5,904,309 8,015,322	Net movement in funds £ (145,083) (292,331) (173,914) 224,948 19,983 145,592 (75,722) (220,805)	Transfers between funds £ (173,914) - 173,914 - - -	At 31.12.23 £ 1,792,016 2,638,265 - 224,948 2,863,910 275,378 6,002,501 7,794,517
		173,914
		-

16. MOVEMENT IN FUNDS - CONTINUED

Net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Eye Camp Major Operations Medical & Surgical Optics Other Projects TOTAL FUNDS At 1.1.22 £ Unrestricted funds General fund 2,398,077 Restricted funds Eye Camp 423,690 Major Operations - Medical & Surgical 1,533,256 Optics 1,417,848 Other Projects 15,032 3,389,826 TOTAL FUNDS 5,787,903 Comparatives for movement in funds
	Incoming resources £ 1,740,341 6,692,027 1,678,331 5,915,255 984,959 1,005,505 16,276,077 18,016,418	Resources expended £ (1,885,424) (6,984,358) (1,852,245) (5,690,307) (964,976) (859,913)	Movement in funds £ (145,083) (292,331) (173,914) 224,948 19,983 145,592 (75,722) (220,805)
		(16,351,799)
		(18,237,223)
	Net movement in funds £ Transfers between funds £ At 31.12.22 £ 987,391 (1,274,455) 2,111,013 2,506,906 - 2,930,596 (860,532) 860,532 - (1,947,179) 413,923 - 1,426,079 - 2,843,927 114,754 - 129,786 1,240,028 1,274,455 5,904,309 2,227,419 - 8,015,322
3,389,826
5,787,903

Notes to the financial statements - continued for the year ended 31 December 2023

16. MOVEMENT IN FUNDS - CONTINUED

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Eye Camp Major Operations Medical & Surgical Optics Other Projects TOTAL FUNDS	Incoming resources £ Resources expended £ Movement in funds £ 1,309,817 (322,426) 987,391 9,287,403 (6,780,497) 2,506,906 2,021,924 (2,882,456) (860,532) 2,633,974 (4,581,153) (1,947,179) 3,041,123 (1,615,044) 1,426,079 447,023 (332,269) 114,754
	17,431,447 (16,191,419) 1,240,028
	18,741,264 (16,513,845) 2,227,419

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund Restricted funds Eye Camp Major Operations Medical & Surgical Optics Other Projects TOTAL FUNDS	At 1.1.22 £ Net movement in funds £ Transfers between funds £ At 31.12.22 £ 2,398,077 842,308 (1,448,369) 1,792,016 423,690 2,214,575 - 2,638,265 - (1,034,446) 1,034,446 - 1,533,256 (1,722,231) 413,923 224,948 1,417,848 1,446,062 - 2,863,910 15,032 260,346 - 275,378
	3,389,826 1,164,306 1,448,369 6,002,501
	5,787,903 2,006,614 - 7,794,517

16. MOVEMENT IN FUNDS - CONTINUED

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Eye Camp Major Operations Medical & Surgical Optics Other Projects TOTAL FUNDS ,	Incoming resources £ Resources expended £ Movement in funds £ 3,050,158 (2,207,850) 842,308 15,979,430 (13,764,855) 2,214,575 3,700,255 (4,734,701) (1,034,446) 8,549,229 (10,271,460) (1,722,231) 4,026,082 (2,580,020) 1,446,062 1,452,528 (1,192,182) 260,346
	33,707,524 (32,543,218) 1,164,306
	36,757,682 (34,751,068) 2,006,614

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.

18. FINANCIAL INSTRUMENTS


FINANCIAL INSTRUMENTS	2023	2022
	£	£
Financial assets measured at amortised cost	6,647,952	9,949,349
Financial liabilities measured at amortised cost	2,628,307	6,606,141

19. SUBSIDIARIES

The following subsidiaries have been consolidated into the Charity :

Al Basar International Foundation UAE (license No 150014) - Dubai
Al Basar International Foundation Nigeria (Makkah Specialist Eye Hospital) - Nigeria
Al Noor Eye Hospital, Makka Eye Hospital, a component of Al - Basar Multipurpose Health Service Project (Bangladesh)

Aggregate assets and liabilities of each subsidiary as at 31 December 2023 Fixed assets Current assets Current liabilities TOTAL	Bangladesh 2023 £ Dubai 2023 £ Nigeria 2023 £ 3,355,918 43,652 383,247 608,748 2,417,817 1,442,979 (9,747) (1,115,668) (560,794)
	3,954,919 1,345,801 1,265,432

Aggregate income and spend of each subsidiary during the year :

5,276,688

1,502,488 4,067,153

Income

Notes to the financial statements - continued for the year ended 31 December 2023

19. SUBSIDIARIES - CONTINUED

Expenditure

(5,063,561) (1,443,123) (3,576,993) 213,127 59,365 490,160

Our Valued Partners

Albasar.org.uk 0208 899 7420 Email: info@albasar.org.uk 566 Chiswick High Road, London, W4 5YA.