REPORT OFTHE TRUSTEES AND FINANCIALSTATEMENTS For The Year Ended 31 December 2024
AL BASAR INTERNATIONAL CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 Report's Index Page REPORT OF THE TRUSTEES 3-12 REPORT OF THE INDEPENDENT AUDITORS 13-15 STATEMENT OF FINANCIAL ACTIVITIES 16 BALANCE SHEET 17 CASH FLOW STATEMENT 18 NOTES TO THE CASH FLOW STATEMEKr 19 NOTES TO THE FINANCIAL STATEMENTS 20-31
AL BASAR INTERNATIONAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustÈÈg who are also diretiors of ihÈ charity for the purposeg of the Companies Act 2CM)6, pre#ent thelr rÈporl wilh thÈ f inancial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accouniing ano Reporiing Dy cnariiies: siaiemeni of Recommenoea Praciice aPPlicaDie io cnariiies preparing iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021 (effective 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims Al Basar International Foundation's purpose is lo: -Preserve and protect the health ol patients of eye diseases by providin9 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, foiums and by the publication of newsletters devoted to healthcare. Our Vlslon - We are creating a world Iree frixn preventable blindness. and where people have access to affordable and sustainable eye care services. Our Mission - In partnership with local organisations. we strive to eliminate preventable blindness ty delivering treatment and establishing sustainable eye care infrastructure. We empower local teams to lead efforts in saving sight within thelr own comrnunities. Strat•glc obl•¢ilves- Advanclng Lo¢•llsailon Continue implementing the localisation strategy Iseparaling branches from Ihe UK office and granting them full autonomyl initiated in 2023. Strengthen local capacity. refine implementation frameworks. arKI ensure compliance with local regulaiions while aligning with iniernational best practices. This objective aim5 to empower communities, Improve servlce delivery. and sustaln high standards of eye care.
AL BASAR INTERNATIONAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 OBJECTIVES AND ACTIVITIES Significant activities Eye Hospltals Al Basar is committed to eradicating preventable blindness by establishing specialized eye hospitals In underprivileged regions in developing countries. We operate 29 hospitals across Africa and Asia. providing essenlial eye care services 10 patients including treatmenl of cataracts and glaucoma, prescriplion glasses. and treatmenls for other eye condilions. In 2024, our global eye hospitals served 1.37 million individuals and conducted 124,787 eye surgeries restoring eyesight. Due lo instability In the reglon some of our hospitals in Sudan were closed. Our lacilities continue lo enhance the quality of life fof thousands of indiviouals by delivering critical eye care services. However, over 1 billion people worldwide still face barriers such as lack of awareness, stigma, political instability, and conflict. Al 8asar remains dedicated to overcomlng these challenges and reaching those in the m05t remote afeas. Outreach Programm•s Cataract5 clouding of Ihe eyes lens are the leading cause of bllndness globally. If left unirealed, they can severely Impair vision, especially in communilies with limiled healthcare access. Al Basar's outreach leams Iravel lo remote and underserved regions in developing countries to provide essential eye care services directly to those who need thern most.. Al 8asar outreach programmes deploy specialized medl¢al teams to remote areas In developing countries to provlde critical rnedical care. Our inltiative is dedicated lo serving underser¥ed populalions to significantly reduce the global Incldence of preveniable bllnoness. In 2024, we condueted 188 outreaeh programmes. screening 749.600 individuals. performing around 75.300 surgeries. and distributing 186.400 pairs of glasses. In December. we conducted a specialized programs in Yemen. focusing on a viide range of eye treatmenis. These included retinal, glaucoma, orbital, and squint surgeries. The programs served a tolal of 1590 patients. Tralnlng and Development Al Basar operates five structured training Pfogrammes. each led by experienced medical experts from renowned academic institutions. Our training centres in Niger and Pakistan Pfovide comprehensive education for aspiring ophthalmologists, ophthalmic technicians. oplometrists, and nurse5 equipping them with the skills needed to address critical shortages in their home countries. In 2024, 82 students graduated from our programmes. Includlng 19 in Niger and 52 in Pakistan. alongside 11 postgraduate trainees in Pakistan. These achievements mark a significant step toward improving access to skilled eye care professionals acro55 Ihe region. Their 5ucce55 underscore5 Ihe vital role of locol training in 5tren9thening heallhcare syslems and reducing preventable blindness. School eye-screenlng programmes Our sch¢x)I screening initiatives continue to combats childhood vision impaimient by offering free eye tests and distributing corrective glasses to children. In 2024. these programmes expanded their reach, screening more than 43,000 students across 66 schools in Bangladesh and Nigeria. In Bangladesh alcfft. over 30.000 childfen in 52 schools were screened. while in Nigeria. nearly 14,000 students in 14 schools benefited. According to a UCLA study published In 2022. "approximately 80% of classroom leamlng is visual." Provlding children with clear vision is essential to their academic success and overall well-being. By correcting vi%on problems, we empower children to fulty participate in their educatlon, social activilies. and physical development boosting confidence and helping close educational gaps.
AL BASAR INTERNATIONAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 OBJECTIVES AND ACTIVITIES Strategic Partnerships Klng Salman Humanh¥lan Ald arbd Rellef Centr• The King Salman Humanitarian Aid and Relief Centre remained our leading partner in 2024, supporting 66.3% of all outreach activilies. This enduring parlner5hip continue5 to strengthen our effort5 in Yemen and beyond. expanding access to quality eye care and reaffifming our shared commitmeni to restoring sight and hope. Direci Ald Direct Aid conlributed 13.5% of total outreach programmes in 2024. Their support has been pivotal in enabling life- changing Surger$. treatments. and preventive eye ca. particularly across Africa. where access lo medical services remains limited. Muslim World L•4u• Through our collaboration with the Muslim Workl League, 1.6X of outreach programmes were delivered, advancin9 our shared vislon of C¢)mprehenslve and accesslble eye care. Al Basar USA Al Basar USA accounted lor 1.0% of outreach activities, continuing to ext our global impact through joint initiatives and support for eye health in unoerserved communilies. Qatar Red Crescent Our parlnership with Ihe Qatar Red Crescent represented 0.5% of total outreach. reinforcing our shareo mission to provide humanitarian medical care and alleviate vision impaiment. Muntada Ald Munta¢Ja Aid contributed 0.5% of outreach programmes, suppcrting Al Basarfs ongoing efforts to bring signt-restoring care to those in greatest need. Memberships Int•rn•tk)nal Ag¢Y for th• Pr•v•ntlon ol 811ndn* Al Basar Internalional Foundation renewed its valved partnership with the International Agency for the Prevention of Blindness IIAP81, strengihening our posiiion Wiihin ihe global eye health community. Througn this collaboration, our teams gain access to IAPB'S extensive digital resources, research. and professional tools ensuring that we stay aligned with the latest innovations and international standards of care. This partnershlp also amplifies Ouf global visibility. Our impact stories and oulreach achvementS will contlnue to be featured on IAP8's platforms. sharing our progress with a wider audience. Furthermore, participation in IAPB'S specialiied working group5 f05ter5 knowledge exchange and collaboialion with leading experl5. while Ihe network itself sefves as a key platform for conneciing with qualified professionals across the secior. Musllffl Charities Forum Our continved membership wilh the Muslim Charilies Forum IMCFI has further strengthened Al Basar's engagement within the UK'S Muslim charitable sector. This parinership coniinues to align with our commitment to inclusivity and Collaboration, offering access to MCF'S expertise in funding, training, and networking. Through MCF'S platform, we are also able to promoie opportunities io a diverse audience and enhance the Professional skills of our ieam through regular workshops and events. In 2024, our parliclpation in the MCF Conventlon provided an Invaluable opportunily to connect with Ilke-minded charities and share experiences from our global eye care programmes. These exchanges opened paihways for collaboration and stren9thened our colleclive capacity to address preventable blindness within the broader humanitarian landscape. The Everbl a15tJ expanded gur profe55itJnal rbetwoik. allowing U5 lo engage with key 5Lakeholder5 polenlial parlner5. and furthèr el@vating Al Basarfs prenCe in th@ UK charity ttsr_
AL BASAR INTERNATIONAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Fundraislng ftegulalor (UK) Al Basar Inlernalional Foundation is a registered member of ihe Fundraising Regulalor UK, demonstrating our commitment to transparency, accountability. and ethical fundraising practices. This membership ensures Ihat all our fundraisii)g aclivities aijhere to the Cooe of FunOraisii)g Practice, ieinfoicing public Irusl and confideiice in the integrlly of our vrk.
AL BASAR INTERNATIONAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 OBJECTIVES AND ACTIVITIES Publlc benefll The Strategic report refers to the work undertaken to further public benefit. The irusiees confirm ihar 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. Grantmaklng The board of irustees approves the decision lo fund specific proiecls following a recornmendation by the senior managemenl, and selection criteria that include: The size andlor priority of the largeted eye health problem The potential impact on preyeniable blindness Strategic alignmenl Value for money The f undability of the project The Foundation shall maintain a balanced portfolio of programme activities. with all projects falling within its approved project framework. Fund transfers to Al 8asar Intemational Foundation are executed on the basis of verified or forecasted proiect expendltures. During the year, the Dubai olfice disbursed grants to the Nigeria office and other internalional operalions. Proposals and budgets were submitted to the Dubai office for review and assessment, arKI upon ManagemeTIt'5 approval, grants were released in accordance wilh the approved allocalions. Volunteers Only the charity truslees are volunteers. The CEO also works as a volunteer. The Trustees are volunteers, chosen because they have the dlverse range of skills. knowledge and experience that we need to respond to the challenges of today. The Trustees, who served throughout the perioo 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 Trusiees are appointed, they undergo an orientation io brief them on.. Iheir legal obligations under cttarity and company law, Ihe Charity Commission guidance on public benef it, the conieni 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 ttte financial operations ol the Charity. Dr Al Yagout is not remunerated for these services. The Key Management Personnel of the Charity are deemed to be the Trusiees. None of our Trusiees receive remuneration or Oiher benefit from iheir work with the Charily. STRATEGIC REPORT Achievements and performance Fundraising activiti•% The charity did not raise any funds from directly from publi¢ through any public fundraising activities. No professional fundraisers are used. The charity raises Fts funds from institutions and frorn subsidized fees by palients attending hoskThtal for trealments. No donor complalnts were recorded Our recent parlnership with the Fundraising Regulatof ensures that Al Basar adheres to ethical and transparent fundraising pracilces. As a rnemtser, Al Basar cornmlls 10 the Co¢Je of Fundralslng Pracilce. Upnololng hlgh accouniaL)Illiy standaras to our donors. and strenolhenino our integrity and repulation as a UK charity.
AL BASAR INTERNATIONAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRATEGIC REPORT Financial review Financial position The Charily had income in the year of £18.5m12023 £18.Oml and after spending £18.6m12023 £18.2ml, the charity made a net deficit of £0.04m12023 £0.2ml. The charity'5 carry forward funds are £7.8m12023 £7.8ml. Reserves policy The reserves policy of Al Basar Intemaiional Foundatim. last reviewed arKI updated in August 2023, remained unchanged throughout 2024. The trustees continue to maintain a SerVe level equivalent io three monihs of operating costs. serving as a Coniingency against sudden reductions ift Sncfft io safeguard the organisatlon's fUte opeTaiiofts. These reserves also provide essentlal cash flow for grants and Coniracts pald in arreafs and include desl9nated funds for Planned commitments not covered by anticipated income. The reserves are comprised of: Funds to rneet the organisation's responsibilities as an employer, ensuring sufficlent provisl¢)n for notice and Tedundèncy cost5 in the evenl of closure. A general-purpose reserve fund. The charfiy has consolldaied carry forward funds of £7.75rn. It is £5.73m restricted funds and £2.02m unrestricted funds. The trustees ¢onsldered the level of reserves being adequate for the immediate and shorl temi needs of the eharity Golrbg conc•rn The Trustees have assessed the ability of the Charity to continue it's activities and they are confident that the Charity has suff icienl resources lo continue operating for a I leasl 12 monlhs from the Oate of Ihis reporl.
AL BASAR INTERNATIONAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRATEGIC REPORT Principal risks and uncertainties The Board of TTUStees of Al Basar International Foundation Is cornmitted to mainiaining a strong risk management framework to ensure the organisation is able to manage risk appropriately. Thi5 will be Ihrough maximising polenlial opportunitie5 whi15t rrtinirnisin9 Ihe adverse effects of risk by having appropriate $y5tem5 and controls in place for reporting and aclion. Saleguardlng Ai Al Basar International Foundailon. we remain steadfast in our commitment to protectlng people from harm. providing safe and effective care, and ensuring all our staff. contractors. and volunteers adhere to a strict code of conduct. In 2024, we advanced our efforls by collaborating with our programme implementation teams and partners to enhance our safeguar¢Jing policies ana procedures revised in 2023, coniinuing 10 review and moniior our sysiems to ensure ihey remain effective, consistent, and aligned with best practice standards. Rlsk Management The Trustees have a duty lo identify and review the risks to which the Charity is exposed and to ensure appropriate conlrols are in place lo provide reasonable assurance against fraud and error. The Truslees will establish appropriaie formal methodologies to manage major risks as ihe operations of the Charlty are developed. The charlty's activities expose it to a number of financial risks including Cfedit fisk. cash flow risk and liquldity risk. The use of financial derivalives is governed by the charily's FM)licies approved by Ihe board of trustees, which provide Wfitten principles on the use of f inancial derivatives to manage these risks. The chaf Ity does not use derlvative financial insiruments for speculative purposes. Rlsk Management Process The general risk managemenl process will include the following steps". l. An annual review of the previous year's risk management report. 2. A risk identilication exercise for the year ahead consisling of an evaluation of identified risks. 3. Recording and monitoring of ri5k5 Using a risk register. 4. Asslgning managemenl arrfl responslbility for risks to appropriate persons. Risk management torm$ part of Al 8asar Intemattonal Foundation's system of intemal ¢ontrols and 1$ supported by the policies and procedures of the organisation. covering but not limited to: IT and Data Protection -HR Health 8 Safety Finance Manual Governance Programmes Fundraising The risk of falling sht of these slandards is mitigated as far as possible by ensuring thal appropriate policies and working practices are adopted in each area, department and that staff are adequately experienced and trained to manage this. Future plan$ In 2025. Ihe trustees will focus on advancing the localisation strategy by finalising the transition of branch management f rom the UK office to lully autonomous local entitie5. This will include completing legal pro¢e55e5, 51rengthening local governance structures. and providing targeted capacity-building support to ensure high standards of service delivery. The Foundation plans io conduci at least 180 outreach programmes in un(Jerserved communities. deliverlng free eye care to those most in nee(l.
AL BASAR INTERNATIONAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document During the year to 31 December 2024 the Charity wa5 controlled by its governing document, a deed ol trust, arKI constituted a limited company. limited by guarantee, as defined by the Compan$ act 2006. The Chafliy was a charliable cornpany governed by the Mernorandum and Arilcles and was Sncorp)rated on 13 September 2013. The Memorandum aKI Articles were amended by special resolulion on 16 November 2014. As from 23 May 2025, the charity is controlled by ils governing docurnent, a constitution, In the fomi of the Foundatlon Charitable Incorporated Organisation ICIOI model, as approved by the Charity Commission. The CIO was registered on 23 May 2025 wrth the Charity Comrnissh Icharity nurnber. 11607581. The trustees are the only rnembers of the CIO and are responsible for the overall governance and slralegic direction of the charity. Recruftment and appolnlment of new truslees The constitution requires a minimum of three Trustees and allows for a maximum of eight Trustees. There are four foundlng Trustees that will fK)Id offbce Indefinitely. Oryanisational structure In 2024, our organisaiional Siruciure coniinues to suppori clear accountability and efficient operations. The London office reports directly to the Global CEO. who in turn reports to the Board of Trusiees. This structure slrengthens leadership oversight and ensures effeclive communication between the execulive team and Irustees. Inductlon and tralnlng of rbew trustee The founding Trustees have received the necessary Iraining and advice. Any new Trustees will receive a Iraining pack and a one to one session with a govemance expert on appointment Flnanclal Rlsk management The charity's activities expose il to a number of financial risks incIling credil risk, cash flow risk and liquidily risk. Cash flow rlsk The charity's activities expose it primarily to the financial nsks of changes in foreign currency exchange rates. its tunos are raised in foreignlstronger currencies such as USD and Continues to match ihe cash flows from various projecis to effectively manage the fOIgn exchange fluctuation. The charity is not exposed to interest rate risk as it does not have interest bearing or long term financial assets. Credli rlsk The charily's principal financial asseis are bank balances and cash, tfade and other receivables, and investmenis. The charity's credit risk is primarily attributable to ils 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 identitied loss event which. based on previous experience. is evh1ence of a reduction in the recoverability of the cash flows. The credit risk on liquid f unds is limited because the counterparties are banks with high credit-ratings assigned by International credil-rating agencies. The charity has no significanl concentration of cre(lit risk. witF) exposure spread over a large number of counterparties an customers. Llquldlty rlsk In order to maintain IiquKlity lo ensure that sufficient funds are available for ongoin9 operations and future developments, the charity relies on lon9 term donation commitment f rom its reputat)le donors ano maintains cash reserves to eliminate any short term liquidity issues. Further detalls regardlng1Squidity rlsk can be found in the Staiemeni of accounilng policles in tts flnanclal statements 10
AL BASAR INTERNATIONAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 08690365 IEngland and Walesl Registered Charity number 11607S8 Registered office Building 3 566 Chiswick Road London W4 5YA Trustees Dr Adel Abdulaziz Al Rushood- Chairrnan Dr Aamina Qureshi- Trustee Dr Muhammed Babar Qureshi - Trustee Dr Fareed Mohammad Al Yagoul - Trustee Dr Abdulaziz Adel Abdulaziz Al Rushood - Trustee Dr Abdullah Nasser Alsuwaidan Manager - Trustee Dr Sikander Ali Arshad - Trustee Auditors Shareef Stalutofy Auditors 4 Highlands Court Cranmore Avenue Solihull West Midlands B90 4LE Bankers Barclays Bank PLC 54 Lombard Street London EC3P 3AH Solicitors Lee Bolton Monier -williams LLP 1 The Sanctuary Wesiminster London SW1P 3JT
AL BASAR INTERNATIONAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustoos Iwho arè also tho diroetor# ol Al Basar Intornational Ftsundation lor the purpogèg of company lawl are responsible for prepafing ihe Repof t of the Trustees and the financial statements in accordance with applicable law and Uniled Kingdom Accounting Slandards Iunited Kingdom Generally Accepted Accounting Pfacticel. Company law requires the trustees to prepare financial statements for each financial year which give a tfue and fair view of the slate of affairs of ime chariiable group an¢J of ihe incoming resources and applicaiion of resources, including the income and expenditure, of the charitable group for that period. In preparing those financial slatements, the trustees are required to select suitable accounting policies and then apply them consistently: observe the methods an(J 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 slatemenls.- prepare the financial statements on the going concern basis uftbess it is inappropriate to presume thal the charitable group wlll contlnue In buskness. The trustees are responsible lor keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable group and to enable thèm to ensure that the financial stalements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable group and hence for taking reasonable steps for the prevention and detection of fraud and other irregulaTitie5. In so far as the trustees are aware: there Is no relevant audit information of which the charitable group's auditors are unaware- and the trustees have taken 311 sieps that Ihey ought to have 13ken to make ihemselves aware of any relevant audit information and to esiablish Ihat the auditors are aware of that infofmaiion. AUDITORS The auditors. Shareef. will be woposed for re-appointment at the forthcornirKJ Annual General Meetin9. Report of the trustees, incorporating a strategic report. approved by order of the board of trustees. as the company directors on 23 October 2025 and slgned on the board's behalf by: Dr Adel Abdulaziz Al Rushood - Chaimian 12
AL BASAR INTERNATIONAL REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF AL BASAR INTERNATIONAL FOUNDATION Oplnlon We have audiled the tinancial statements ot Al Basar Intemational Foundation (the 'chantable group'i tor tne year ended 31 December 2024 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 Ihat has been applied in their preparation is applicable law and United Kingdom Accounting Slandards Iunited Kingdom Generally Accepted Accounting Practicè). In our oplnSon the Ilnanclal staiements.. give a true and fair view of the state of the charitable group's affairs as at 31 December 2024 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 wilh Uniied Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Ba81s for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKI l and applicable law. Our responsibilities under those standards are further described in the Auditors. responsibilities for Ihe audit of the financial slatement5 section of our reporl. We are independent ol the charitable group in accordance wilh 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 obtaineo Is sufficient and appropriate io provide a basis f(Y our opinion. Conclusions relating to golng coneern In auditing the financial 5tatemenls, we have conclude(I Ihal the Iru5tee5' use of ihe going conceffl ba515 of accounting in the preparation ol the financial stalements is appropriate. Based on the work we have performed, we have nol ideniified any material uncertaintie5 relating lo event5 or conditions thal, individually or collectively, may cast significanl doubt on Ihe charitable group's ability to continue as a going concern for a period of at least twelve months from when the financial statements are auttM)rised for issue. Our responsibililies and the responsibillties of the tru5tee5 With respect to going concem are described in the relevant sections of this report. Other inforniation 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 financlal statements does not cover the other infomiation and. except to the extent otherwise explicltly stated in our report, we do not express any form of assurance conclusion thereon. In connectton with our audit of the financial staiemenis. our responstbility is to read the Oiher Information and. In doing 50, consider whether the other information is materially inconsistenl with the financial slalemenls or our knowledge obtained in the audit or olherwise appears to be materially misstaled. If we identify such material inconsistencies or appareni material misstaiements, we are required to determine whether this gives rise to a material misstatement in the financial stalemenls themselves. If, based on the work we have per formed, we conclude that Ihere is a material misstatement of this other infomiation. we are required to report that fact. We have nothing to report in this regard. Oplnions on other matters pru¢rlbed by the Cofflpanles A¢t 2006 In our opinion, based on the work undertaken in the course of the audit- the information given in the Report of the Truslees lor the financial year for which the finartial statefflents are prepared is consistent with the financbal statements.. and the Report of the Trustees has been prepared in accordance with applicable legal requirements. 13
AL BASAR INTERNATIONAL REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF AL BASAR INTERNATIONAL FOUNDATION Matters on which we are required to report by exception In the light of the knowledge and understanding of ihe charitable group and ils environmenl obtained in the course of the audil. we have not identified FDaterial rnisstatements in Ihe Report of the Trustees. We have nothing to report in respect of the following matlers Whe the Companies Act 2006 requires us to report to you if, in our opinion- adequate accountin9 records have not been kept or reiurns adequaie for our audit have not been ceived from branches nol visited by us.. or the financial slatements are not in agreement with the accounting records and relums: or certain disclosures of trustees. remuneralion specified by law are nol made-. or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Staiement of Trustees. Responsibilities. Ihe trustees (who are also the directors of the charitable group for Ihe purposes of company lawl are responsible for Ihe preparation of the flnancial staiements and for being saiisfied that they give a true and fair view, and for such internal control as the trustees Oetermine is necessary to enable the preparation of financial slatements that are free from malerial misslatement. whether due to fraud or error. In preparing the financial statemenls, Ihe trustees are fesponsible for assessing the charitable group's abilily to conlinue as a going concern, disclosing. as applicable, malters relaled to going concern and using Ihe going concern basis of accounling unless the trustees either intend to liquidate the charitable group or lo cease operations, or have no realislic alternative but to do so. Our responsibilities for Ihe audit of the financial stalemenls Our objective5 are 10 obtain reasonable assurance aboul whether the financial statements as a whole are free from material missiatemenl. whelher due to fraud or error. and to issue a Report of the Independeni Auditors that includes our opinion. Reasonable assurance is a high level of assurance. bul is nol a guaraniee that an audii conducted in accordance with ISAS IUKI wlll always detect a material misstalement when it exists. Misstatements can arise from fraud or error and are considered malerial if, individually or in Ihe aggregate. they could reasonably be expected to influence the economic decisions of users taken on the tsasis of these financial statements. The exient to which our procedures are capable of delÈCting irregulafilies. including fraud is dÈiailÈd below,. Irregularities, including fraud. are insiances of non-compllance 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 exlenl to which our procedures are capable of detecting irregularities. including fwaud is detailed below.. Our assessment focused on key laws and regulations the charity has to comply with and areas of the financial staternenis we assessed as being more susceptible io rnissiatemenl_ These key laws and regulaiions included but were not limited lo compliance wilh the Companies Act 2006. United Kingdom Generally Accepted Accounting Practice and relevant lax legislation. We are not responsible for preventing iwregularities. Our approach io delect irregularily included. bul was nol limited lo, the following.. obiaining an understanding of the legal and regulatory framework applicable io ihe charily and how Ihe Chaflty is complying wilh Ihat framewofk, including a review of legal and professional nominal codes., obtaining and undersianding the Chaflty's policies and procedures and how Ihe Charity has complied - wilh these. through discussions and walklhrough testing of contfoIs-, oblaining an understanding of the Charity's risk assessment process. including the risk of fTaud,' designing our audit procedures lo respond to our risk assessmeni-. and performing audit work ovef the risk of management override of controls. including testing journal entries and other adjustments for appwopriateness. evaluaiing Ihe business raiionale of significant transaciion outside ihe normal course of business and reviewing accounting estimates for bias. In response lo Ihe risk of irregularities in welation to D-ComEIance with lay and regulations. we designed procedures which included. but were noi limited to.. 14
AL BASAR INTERNATIONAL REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF AL BASAR INTERNATIONAL FOUNDATION agreeing financial statement disclosures to underlying supporting documentation: enquiring of managemeni as to actual and poienlial litigaiion and claims- and reviewing correspondence with HMRC and associated parties. Whilst cons4dering how our audil work addressed Ihe detection of irregularities. we also consider the likelihood of deieciion based on our approach. Irregularities from fraud are inherently more diffKult to deieci than ihose arising from error. Because of the inherent limitations of an audit. there is a iisk that we will not detect all irregularities, including those leading to a material rnisslatement in the financial slatefflents or non-compliance with regulation. This risk increases the more thal compliance with a law or regulation is removed from the events and Iransactions 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 (Jue to fraud rather than error. as fraud involves intentional concealmenl. forgery. collusion, omission or misrepreseniation. 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 statemenis is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibiliiie& This description forms part of our Report of the Independent Auditors. Use of our report This report is made solely to the charitable group's rnembers, as a body. in accordance wilh Chapter 3 of Part 16 of the Companies Aci 2006. Our audit work has been undertaken so ihai we might state io ihe charitable group's members those mailers we are required 10 Stale io ittem in an auditors, repori and for no Other purpose. To ihe fullesi extent permitted by law, we do not accept or assume responsibilily to anyone other than the charitable group and the charitable group's members as a body. forour audit work. for this report. orfor the opinions we have formed. Naeem Shareef (Senior Statutory Auditor) for and on behalf of Shareef Slalutory Auditors 4 Highlands Court Cranmore Avenue Solihull West Midlands 890 4LE 23 October 2025 15
AL BASAR INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total fund$ 2023 Tolal funds Unrestricted Reslricted fund funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 1,735.499 11.193,981 12.929.480 14.067.906 Other income Total EXPENDITLIRE ON Raising fund$ 85.365 65.365 1.167 Charitable a¢llvlties Chariiable aciivities Tolal NET INCOMEI(EXPENDITUREI Oiher recognised gainsl(losses) Exchange rate gainslllossesl 785.170 1270.983) 514.187 745.794 movement In funds 229,899 1270,983) (41,084) 1220,8051 RECONCILIATION OF FUNDS Toial funds brought lorward 1.792.016 6.002.501 7.794.517 8.015.322 TOTAL FUNDS CARRIED FORWARD 7.7431 The noies form pan of tttese financlal statements 16
AL BASAR INTERNATIONAL BALANCE SHEET 31 DECEMBER 2024 2024 Total furbds 2023 Total fund$ Unrestricted Restricted fund fund3 Notes FIXED ASSETS Intangible assets TangibFe assets 12 13 183 4 169 282 183 4 189 282 631 3 784 241 4.169.465 4.169.485 3.784,872 CURRENT ASSErs Stock5 Debiors Cash at bank 14 15 370,962 432.249 1.474.490 2.933,903 2 365 367 803,211 4,408,393 2 365 367 943,562 3,853,492 1850 900 1.845.452 5.731.519 7.578.9n 6,647,954 CREDITORS Amounts falllng due within one year 16 13,993,0031 13,993,003) 12,638,309) NET CURRENT ASSErs 12 147551) 5 731519 4 009 645 TOTAL ASSETS LESS CURRENT LIABIUTIES 2.021.914 5.731.519 7.753.433 7.794.517 NET ASSETS 2 021914 5 731519 7753 433 7794 517 FUNDS Unrestricted funds Restricted funds 17 2.021,914 5 731519 1.792.016 6 002 501 TOTAL FUNDS 7753 433 7794 517 Inanei ned on its be emènts werè approv¢d by the Board of Truste•$ and authorlsed for issue on 23 O¢tober 2025 and wore If by.. Mr A A Al Rushood - Chairm Mr F M Alyagcut - Truslee The notes form part of these financlal statements 17
AL BASAR INTERNATIONAL CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows froffl operating activiti Cash generated from operations Net cash provided byllused inl operaling activlties 24 Cash flows Irorn investing activilies Purchase of iangible fixed assets Exchange rate movements in Fixed Assets 1841.713) 1347,8741 Nei cash (used In}Iprovlded by investlng activities 27 412 Change In ush and ush equlvalents In lh• reportln9 perlod Cash and cash equlvalents at the beglnnlng of the reportlng period 514.467 11,758.1261 Cash and cash equfvalents at th• end of th• feporting period Ttte noies form part of these financlal statements 18
AL BASAR INTERNATIONAL NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATINO ACTivmES 2024 2023 Net Incom• for lh• r•wilng p•rlod p•r th• Stat•m•nl of Hnanclal Actlvliles) Adjustments for. Deprecialion charges Exchange rate105ses Decreasellincreasel in siocks Ilncreaselldecrease in debtors Increa5elldecreasel in creditors 514.187 745,794 196.185 1555.271 140.351 1554.901) 76,829 1966,5991 182.8761 1.626,145 Net cash provldéd byl(used In) operatlons ANALYSIS OF CHANGES IN NEf FUNDS At 1.1.24 Cash flow At 31.12.24 Net cash Cash at bank 514 467 Total Ttte notes f¢ym part of tttese finan¢lal statements 19
AL BASAR INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable group, which is a public benefil entity under FRS 102, have been prepared in accoidance with the Charities SORP IFRS 1021 'Accounling and Reporting by Charities.- Statemenl of Recommended Practice applicable to charities preparing their accounls in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeciive 1 January 20191., 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 slatements The consolidated financial statemenis consolidate the financial statements of the charity and ils subsidiary undertakings drawn up lo 31 December 2024. No statemeni of financial activilies is psented for the charity as pemiitted by section 408 of the Companies Act 2006.The charity had a surplus for the financial year of £61.23912023 - deficit of £312,903). A subsidiary is an entity controlled by the charity. Control is achieved where the charily has the power lo govern the financial and operating policies of an entity so as to obtain benefils from ils activities. The results of subsidiaries acquired or disposed of duiing Ihe year are included in the statement of financial activities from 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 wilh those used by the gfOUP. The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by Ihe group. The cost of a business combination is measured as the fair value of the asseis given, equity instruments issued and liabilities incurred or assumed at the date of exchange. plus Costs directly attributable to the business combinalion. Idenlifiable assels acquired and liabililies and contingenl liabilities assumed in a business combination are measured inilially at their fair values al Ihe acquisition dale. Any excess of the cost of ihe business combination over the acquirer's interesl in the net fair value of ihe identif iable assets, liabilities and conlingent liabilities recognised is fecoroed as goodwill. Inter-company transactions, balances and unrealised gains on tfansactions between the charity and its subsidiaries, which are related parties. are eliminated in full. Intra-group losses are also eliminaled bui may indicate an impairment thal requires recognition in the consolidated financial siaiements. Accounting policies of subsidiaries have been changed where necessary lo 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 Iherein. Non-controlling interests consist of the amount of those intefests at the dale of the original business combination and the non-controlling shareholder's share of changes in equity since the date of ihe combination. Total comprehensive income is atlributed to non-controlling interests even if this resulls in the non-controlling inteTesls having a deficit balance. Income All income is recognised in the Staiement of Financial Activities once the charily has eniitlement to the funds. it is pfobatre that the income will be received and the amount can be rneasured reliably. Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the evenl that a donation is subject to conditions Ihal require a level of performance by the charity before Ihe charily is enlitled to the funds. the income is deferred and not recognised until either Ihose conditions are fully mel. or Ihe fulfilmeni of ihose conditions is wholly within the control of the charily and it is probable Ihat these conditions will be fulfilled in Ihe reporting period. continued...
AL BASAR INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 continued... ACCOUNTING POLICIES - continued Eypendituie Liabililies are recognised as expenditure as soon as there is a legal or construciive obligation commilling the charity to that expenditure. it is probable that a transfer of economic benefits will be required in setllement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings Ihat aggregaie all cosl related 10 the caiegory. Where costs cannot be directly atlributed lo particular headings they have been allocated to activilies on a basis consistent with the use of resources. Raising funds These are costs incurred in altracting voluntary incoffle. the management of investments and those incurred in trading activities ihai raise funds. Charitable activities Charitable expenditure comprises those cosis incurred by the charity in the delivery of it5 acfivities and services for ils benef iciaries. It include5 both costs that can be allocated direclly lo such activilies and those costs of an indirect nalure necessary lo support them. Governance costs These include Ihe cosls attributable 10 the charily's cornpliance with constitutional and staiutory requirements, including audil. Strategic managemeni and trustees's meetings and reimbursed expenses Allocation and apportionmenl of support costs Supporl costs include central functions and have been allocaied to aciivity cost categoiies on a basis consistent with Ihe use ol resources. for example. allocating property costs by floor areas. or per capita, staff costs by the tiffle spent and other COSIS by Iheir usage. Tangible fixed assets Depreciation is provided at the following annual rates in ordei to write off each a5sel over its estimaled useful life. Freehold property Planl and machinery Fixtures and filtings Motor vehicles 2% on cosi IO% on cost IO% on cosl 20% on cost Stocks Siocks are valued at the lower of cost and net realisable value. after making due allowance for obsolete and slow moving items. Taxalion The charity is exempt frorn corporalion tax on its charitable aclivities. Fund accounting Unrestricted ILJnds tan be used in accordance with Ihe charilable 0.eCtiveS at the discretion ol the Irusiees. Reslricted funds can only be used lor particular fesiricted purposes within the objects of the charity. Restrictions arise when specilied by the donor or when funds are raised for particular restricted purposes. Further explanalion of the nature and purpose of each fund is included in Ihe notes lo the financial staiements. Foreign currencies Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monelary assets and liabilities denominaled in forewJn currencies at the balance sheet date are reported at the rates of exchange prevailing at thal date. continued... 21
AL BASAR INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 continued... ACCOUNTING POLICIES- ¢ontlnue(l FoTelgn GurrenGles The results of overseas operations are translated at the average rates of exchange durlng the period and ihelr balance 5heet5 at the rales ruling al the balance sheet dale. Exchange difference5 arising on tran51alion of ihe opening net assets and results of ovefseas operations are reporte(l in other comprehensive Income and accumulated in equity laltributed to non-controlling interests as appropriatel. Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for: 11 exchange differences on transaciTrons eniered inio to hedge certain fOren currency risks Isee aty)ve); 21 exchange differences arising on gains or losses on non-monetary iterns which are reco9nised in other comprehenslve income: and 31 in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which seltlement is neither planned nor likely to occur Itherefore forming part of the net investment in the foreign operation). which are recognised in other comprehensive income and reported under equity. P•nglon Costs and oth•r po*t-retlrement beneffts The tharily operates a defined coniribution pension scheme which is a pension plan under which fixed coniributions are paicl into a pension f und and the charity has no legal or consiructive obligation io pay further contributions even if the fund does not hold sufficienl assets to pay all employees the benefits relating to employee service in the curTent and Prior periods. Contributions to defined contribution plans are recognlsed in the Statemenl of Financlal Activities when they are due. If contribution payménts exceed the contribution due for service. the excess is recognised as a prepayment Golng eoncern The trustees consider that there are no material uncerlainties about the charity's ability to continue a5 a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity DONATIONS AND LEGACIES 2024 2023 t)onations to major appeals continued. 22
AL BASAR INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 continued... OTHER INCOME 2024 2023 Fees and supplies 5.638.323 .3.948.512 RAISING FUNDS Ralslng don•ilon$ l•y¢k* 2024 2023 Advertising, events and publicaiions CHARITABLE AcnvmES COSTS Support costs (see note 61 Direct Costs Totals Charitable activities SUPPORT COSTS Govemance costs Management Finance Other Totals Charitable activities Support costs. Included in the above. are as follows: 2024 Chariiable aclivities 2023 Total activitle5 Wages Social security Pensions Supporl costs- Admin Support costs - Finance Support costs - premises Support cosis Auditors, remuneration 2.630.027 111.589 60.204 2.524.335 33,539 484.061 17.798 2.240.378 53,177 103.246 608.476 17,743 526.637 10.048 continued. 23
AL BASAR INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 continued... OTHER 2024 2023 Support cosis 5 893 948 NET INCOMEI(EXPENDITURE) Net incomellexpenoiiure) Is staled after chargingllcreailingl.. 2024 2023 Auditors, remuneration Depreciation owned assets Other intangible fixed assets amortisati Exchange raie losses 32.395 196,148 37 44.064 76.544 285 555 TRUSTEES. REMUNERATION AND BENEFITS There were no Irustees. rernuneration or other bwefits for the year ended 31 Deceml)er 2024 nor for the year ended 31 December 2023. Tru8tees' 8xp8n8e8 There were no trustees, expenses paid for the year erKled 31 December 2024 nor for the year ended 31 December 2023. 10. STAFF COSTS 2024 2023 Wages and salaries Social security costs Other pension costs 2.830.027 2.240.378 111.589 53.177 The toial employee remunefailon of the key management personnel of the group were £121,765. The average monthly number of employees during the year was as fdlows: 2024 162 2023 162 141 Charilable activities Admin & Support No employees received emoluments In excess 01 £60.000. continued. 24
AL BASAR INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 continued... 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fur)d fund5 Total fund5 INCOME AND ENDOWMENTS FROM Dor)ations and le9acies 1,720,364 12,347,542 14,067,906 Oiher income EXPENDITURE ON Raising funds 1.167 1.167 Charilable activities Charitable activities Total NET INCOMEI(EXPENDITURE) 821,516 1173.9141 175,7221 173.914 745,794 Transfers between fund• Olher recognlsed ing111088•81 ainslllossesl on revaluation of fixed assets Net movement In lunds 1318,9971 98,192 1220.8051 RECONCILIATION OF FUNDS Total f14nds brought forward 2.111.013 5.904.309 8,015,322 TOTAL FUNDS CARRIED FORWARD continued. 25
AL BASAR INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 continued... 12. INTANGIBLE FIXED ASSETS Other Iniangible fixed assets COST At l January 2024 Exchange diffeiences 1,307 J94 At 31 Décember 2024 AMORTISATION At l January 2024 ChaTge for year Exchange differences 678 37 At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 13. TANGIBLE FIXED ASSETS Flxtures and fittings Freehold Plant and machinery COST At l January 2024 Additions Disposals Exchange differences 1,125.324 3.623 1,984.901 465.964 567.164 78.393 At 31 December 2024 DEPRECIATION At 1 January 2024 Charge for year Eliminaied on disposal Exchange differences 20.970 714 1.633.789 143,321 518.416 30,906 At 31 Deeernber 2024 NET BOOK VALUE At 31 December 2024 At 31 Décembèr 2023 continued. 26
AL BASAR INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 continued... 13. TANGIBLE FIXED ASSETS- contlnued Capital Work In Progress Motor vehicles Totals COST At 1 January 2024 Adclitions Disposals Exchange differences 158.943 50.487 2.257.319 243.246 6.093,651 841.713 (144) At 31 December 2024 154112 2 DEPRECIATION At 1 January 2024 Charge for year Eliminaied on disposal Exchange differences 136.235 21.207 1144) 2.309.410 196.148 1144) 856 966) At 31 December 2024 44 NET BOOK VALUE At 31 December 2024 -Ua9382 At 310ecember 2023 14. STOCKS 2024 2023 Stocks Finished goods 490,524 269,349 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group 2024 Charity 2024 Group 2023 Charity 2023 Trade debtors Other debtors Prepayments and accrued income 3.874.339 2.059.862 3.685.466 1,262.994 533.619 44,S74 168,026 5,456 TOTAL 4,407,958 2.104,436 3.853,492 1,168,450 continued. 27
AL BASAR INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 continued... CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 Group 2024 Charity 2023 Group 2023 Charity Trade creditors other creditors Accruals 1.131,188 2.708.451 153,366 427,974 135,555 1.822.299 680,455 4.482 494,966 353,143 3.993,¢x)5 781,117 2,638,309 499,448 17. MOVEMENT IN FUNDS Net movement In furKIs At 31.12.24 At 1.1.24 Unr•stri¢t•d fund• General fund 1.792.010 229,898 2,021.914 Re8trict•d funds Eye Camp Medical & Surglcal Optics Other Projects 2,638,265 224.948 2.863.910 1239,049) 2,399,216 224.948 2.863.910 1 127 TOTAL FUNDS Net movement in fund5. included in the ave are as follows: Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 7.373.822 (6.588.653) (555.271) 229.898 Restricted lunds Eye Camp Other Projects 11.092.284 (11.331,333) 1239,049 TOTAL FUNDS continued. 28
AL BASAR INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 continued.. 17. MOVEMENT IN FUNDS- continued Comp•rativ•• fvr mov•1 in fund• Net movement in funds Transfers between funds At 31.12.23 At 1.1.23 Unre$trkted funds General fund 2.111.013 1145.0831 1173.9141 1.792,016 R•8trktod funds Eye Camp Major Operations Medical & Surgi&71 optics Other Projects 2.930,596 1292,3311 (173,9141 224,948 19,983 2.638.265 173.914 224,948 2.863,910 2.843,927 TOTAL FUNDS Comparallve nel movernenl in funds. Included in the above are as follows.. Incoming resources Resources expended Galns and losses Movement in funds Unrestrlcted funds General fund 1,740,341 1918,825) 1966,5991 1145,0831 Restrictod funds Eye Camp Major Operations Medical & Surgical Optics Other Projects 6,692.027 16.984.358) 1,678,331 11,852,245) 5.915,255 15,690,307> 984,959 1964,9761 1292.3311 1173,9141 224,948 19,983 TOTAL FUNDS continued. 29
AL BASAR INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 continued... 17. MOVEMENT IN FUNDS- c¢)ntinuod A curreni yeaf 12 months an(1 pdor yeai 12 months clEned posillon Is as follows: Net movement In funds Transfers between funds At 31.12.24 At 1.1.23 Unrnstrlcled funds General fund 2,111.013 84.815 1173,9141 2.021,914 Restrlcted furKI8 Eye Camp Major Operations Medical & Surgical Optics Other Projects 2,930.596 1531,380) 1173,9141 224,948 19,983 2,399,216 173,914 224.948 2,863,910 2.843.927 346 704 TOTAL FUNDS A current year 12 months and prior year 12 months combined net movement in funds. included in the atjove are as follows: Incoming resources Resources expended Gains and losses Movemenr in funds Llnregtrieled fund8 General fund 9.114.163 17.507.478) 11.521.870) 84.815 Restrlcted funds Eye Camp Major Operations Medical & Surgical Optics Other Prolects 17.784.311 118,315.6911 1.678.331 11,852,245) 5,915.255 15.690.307) 984,959 1964.9761 1531,3801 1173,9141 224.948 19.983 TOTAL FUNDS continued. 30
AL BASAR INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 continued... 18. RELATED PARTY DISCLOSURES There were no related party transaciions for the year ended 31 t>ecernber 2024. 19. FINANCIAL INSTRUMENTS 2024 2023 Financial assets measured at amortised cosi Financial liatslities measured at amortised cost 7,576,536 3.993.003 6,647.952 2.628,307 20. SUBSIDIARIES The following subsldlaries have l)een consolldaied Into Ihe Charity . Al Basar International Foundation UAE Ilicense No 1500141- Dubai Al Basar International Foundalion Nigeria (Makkah Specialisl Eye Hospital) - Nigeria Al Noor Eye Hospital, Makka Eye Hospital, a component of AL - Basar Multipurpose Health Service Pfoject 18angladesh) Aggregate assets ond liabilities of each subsidiary as al 31 December 2024 Bangladesh 2024 Dubai 2024 Nigeria 2024 Fixed assets Current assets Current liabilities 3.277,189 742,643 1320.3151 17,220 2.526,257 11.151.933) 811,OS8 1,168,302 11.000.311) TOTAL 3.699,517 1.391.544 979.049 Aggregate income arKI sperrfl of each subsidiary during the year . Income Expenditure 4.973.894 14,694,177) 1.309.478 3.842.817 11.226.573> 13,591,160) 279,717 82.905 251,657 31