REGISTERED COMPANY LIMITED BY GUARANTEE NUMBER: 09538103 (England and Wales) REGISTERED CHARITY NUMBER: 1161567
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2024
for
Beacon of Peace Limited
Wisei-Chartered Certified Accountants
14 Morden Court Parade Morden SM4 5HJ
www.wiseiaccountants.co.uk
www.beaconofpeace.org
Beacon of Peace Limited Contents of the Financial Statements for the Year Ended 31 December 2024
| Page | |
|---|---|
| Reference and administrative details | 1 |
| Report of the Trustees | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Cash Flow Statement | 7 |
| Notes to the Financial Statements | 8 to 10 |
Beacon of Peace Limited Reference and Administrative Details for the Year Ended 31 December 2024
Trustees Mr.Mirza Waqas Ahmad Appointed 01 April 2023 Mr.Khalil Yousuf Appointed 13 April 2015 Mr.Lutf Ur Rehman Appointed 01 January 2024 Mr.Ashfaq Khan Appointed 01 January 2024 Mr.Usman Ahmed Appointed 10 February 2024 Mr.Okasha Badr Ahmad Resigned on 01 January 2024 Dr.Chaudhry Ijaz Ur Rehman Resigned on 01 January 2024 Mr.Zaheer Ahmed Resigned on 01 January 2024
Registered Company Number 09538103 Registered Charity Number 1161567 Registered Office: 29 Alma Lane Farnham England GU9 0LJ Independent Examiner: Mr.Muddssar Shahzad FCCA Wisei-Chartered Certified Accountants 14 Morden Court Parade Morden SM4 5HJ www.wiseiaccountants.co.uk Bankers: NatWest & Santander Website www.beaconofpeace.org
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Beacon of Peace Limited Report of the Trustees for the Year Ended 31 December 2024
The Board of Directors, who also serve as the Trustees of Beacon of Peace Limited (formerly known as Charity Walk for Peace) present their report together with the financial statements for the year ended 31 December 2024. This report has been prepared in accordance with the Charities SORP (FRS 102) and the Companies Act 2006. It provides an overview of the charity’s structure, governance, activities, achievements and financial performance during the year
Structure, Governance and Management:
Beacon of Peace Limited is a charitable company limited by guarantee, incorporated on 13 April 2015 and registered with the Charity Commission for England and Wales on 7 May 2015 (charity number 1161567). The charity operates in accordance with its governing documents, the Memorandum and Articles of Association.
All trustees, who also serve as directors of the charitable company, receive induction and training to equip them with the knowledge and skills required for their roles. Regular meetings are held to establish clear roles, responsibilities, objectives and performance targets. Trustees and office bearers are kept informed of their duties and relevant regulatory updates through periodic circulars, and they participate in an annual refresher course to support their ongoing development and to ensure alignment with the charity’s objectives
Objectives and Activities:
The principal objectives of Beacon of Peace Limited, as outlined in the governing documents and in compliance with Charities SORP (FRS 102), are focused on the alleviation of poverty, the relief and assistance of individuals facing financial hardship, sickness, and poor health,particularly among the elderly people and the promotion of religious harmony for the public benefit. The charity pursues these objectives through an annual charity walk and other fundraising events, generating resources to support its programs. The funds raised are directed towards initiatives that address poverty, provide healthcare and social support to vulnerable groups, and foster community integration by promoting understanding across different faiths and beliefs.
Public Benefit and Community Engagement:
In addition to its charitable work within the UK, Beacon of Peace Limited undertakes a range of activities that provide significant public benefits. These include organising community events and gatherings aimed at educating the public about diverse religious beliefs. Through these initiatives, the charity seeks to foster mutual respect, promote good relations, and enhance understanding among individuals of different faiths.
The charity also achieves its objectives by raising funds and making donations to other local charities whose purposes are closely aligned with those of Beacon of Peace. This collaborative approach enables the charity to extend its impact, supporting initiatives that alleviate poverty, relieve hardship, and promote health and wellbeing within local communities.
These activities directly support the charity’s objectives to strengthen community cohesion and contribute to the public benefit by promoting peace and religious harmony. The trustees confirm that all activities have been carried out in accordance with the Charities SORP (FRS 102) and the Charity Commission’s guidance on public benefit.
Achievements and Performances:
During the year the charity continued its principal activity of promoting peace, social cohesion and charitable giving through community engagement and fundraising events.
A key highlight was the National Charity Walk for Peace, which brought together members of the charity and participants from other charitable organisations. Funds raised through this event were distributed to a wide range of local and national charities, supporting education, health, poverty relief and other charitable purposes.
A more detailed account of the charity’s activities and impact is published separately and is available on our website at www.beaconofpeace.org.
Financial Review:
Beacon of Peace raised £553,139 in 2024 (2023: £502,047), representing an increase of £51,092. This growth reflects the charity’s continued fundraising efforts and the widening support received in pursuit of its objectives.The majority of funds raised during the year were distributed as grants to other charitable organisations across the UK. These grants directly support the charity’s mission by alleviating poverty, improving health and wellbeing, and fostering community cohesion. In this way, Beacon of Peace continues to play an active role in charitable outreach and partnership within the sector.During the year, the charity incurred £5,085 in fundraising support costs, ensuring that future income-generating initiatives remain effective and sustainable. All other operating and fundraising expenses were met by Majlis Ansarullah (UK) Limited, allowing Beacon of Peace to maximise the use of donations for charitable purposes.At the year end, the charity held unrestricted reserves of £276,418 (2023: £88,139). These reserves provide a sound financial buffer for future operations and reflect the trustees’ commitment to maintaining the charity’s fundraising capacity without immediate reliance on new income streams. The reserves are expected to support planned fundraising and grant-making activities over the next 12 months.
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Beacon of Peace Limited Report of the Trustees for the Year Ended 31 December 2024
Reserves Policy:
Beacon of Peace maintains its reserves to ensure the continuity of operations, to provide a buffer against unforeseen expenditure, and to support the delivery of future projects. The trustees set the level of reserves with reference to planned and budgeted expenditure, taking into account the risks and commitments facing the charity.
The reserves are reviewed on a regular basis to ensure they remain appropriate to the charity’s needs. All reserves are applied solely for purposes that further the charity’s mission. Transparency and accountability are maintained through regular financial reporting to the trustees, who monitor both the adequacy of reserves and their appropriate use on an ongoing basis.
Plans for the Future:
The trustees are confident that both income and charitable activities will continue to grow in future years, supported by an expanding membership base and increasing community engagement. This growth will enable the charity to strengthen its capacity to raise and distribute funds in line with its objectives.
In particular, Beacon of Peace aims to:
Expand the annual Charity Walk for Peace and related fundraising initiatives to reach wider audiences.
Increase the scale and impact of grants distributed to charitable organisations across the UK, with a focus on poverty alleviation, health, and community cohesion.Strengthen partnerships with local and national charities to maximise the impact of funds raised.Continue promoting peace, understanding, and interfaith cooperation through community events and outreach.These plans will enable the charity to continue meeting its responsibilities to members, beneficiaries, and the wider public, while furthering its mission to serve humanity.
Management of Risk:
The trustees regularly review the major risks to which the charity is exposed and have established systems and procedures to manage and mitigate these risks. Key areas of risk include financial sustainability, safeguarding of funds raised, compliance with regulatory requirements, and the effective delivery of charitable activities.
Risks are managed through robust financial controls, regular monitoring of reserves, oversight of grant-making procedures, and adherence to Charity Commission guidance. The trustees are satisfied that appropriate measures are in place to limit the charity’s exposure to significant risks and to ensure the continued achievement of its objectives.
Grant Policy:
Grants awarded by Beacon of Peace are designed to support community development and provide financial assistance for projects that promote the welfare of humanity and wider society. Funding is directed towards initiatives that align with the charity’s objectives, such as educational programmes, health and wellbeing projects, poverty relief, and community cohesion.The trustees review applications and make grant awards based on clear criteria, ensuring that supported projects deliver measurable public benefit. This approach reflects the charity’s commitment to transparency, accountability, and maximising the impact of funds raised.
Statement of Trustees' Responsibilities:
The trustees/directors are responsible for preparing the directors' report and the financial statements accordance with applicable law and regulations.
Company law requires the Directors to prepare financial statements for each financial period. Under that law, the Directors have elected to prepare the financial statements in accordance with United Kingdom Accounting Standards and applicable law. Under company law, the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of the surplus or deficit of resources of the Charity for that year. In preparing these financial statements, the Directors are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The directors are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small Companies Provisions:
This report has been prepared in accordance with the special provisions for small companies under the Companies Act 2006.
Signed on behalf of the Board of Directors:
Mr. Lutf Ur Rehman - Trustee Chairman Beacon Of Peace Limited Approved by the Board of Directors on 02/10/2025
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Independent Examiner's Report to the Trustees of
Beacon of Peace Limited
Independent examiner's report to the trustees of Beacon of Peace Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.
Responsibilities and basis of report:
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.This report is made solely to the charity’s trustees as a body, in accordance with the Charities Act 2011. My work has been undertaken so that I might state to the trustees those matters I am required to state to them in an examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my examination work, for this report, or for the statements I have made.
Independent examiner's statement:
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr. Muddssar Shahzad FCCA Director
Wisei-Chartered Certified Accountants
14 Morden Court Parade London Road Morden SM4 5HJ Date 02/10/2025
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Beacon Of Peace Limited Statement of Financial Activities for the Year Ended 31 December 2024
| Notes Income Income from donations Voluntary donations Donations collected by other charities Other income Total income 3 Expenditure Expenditure on raising funds 7 Expenditure on charitable activities 8 Total resources expended Net movement in funds Total funds brought forward 6 Net funds carried forward |
Unrestricted Funds 2024 £ 547,049 - 547,049 6,090 553,139 5,085 359,775 364,860 188,279 88,139 276,418 |
Unrestricted Funds 2023 £ 497,976 - |
|---|---|---|
| 497,976 4,071 |
||
| 502,047 68,708 484,527 |
||
| 553,235 (-51,188) 139,327 |
||
| 88,139 |
The notes on pages 8 to 10 form integral part of these accounts.
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Beacon of Peace Limited
Statement of Financial Position
As At 31 December 2024
| Notes | 2024 | 2023 | |
|---|---|---|---|
| £ | £ | ||
| CURRENT ASSETS | |||
| Debtors | 4 | 25,521 | 2,242 |
| Cash at Bank | 252,097 | 90,447 | |
| 277,618 | 92,689 | ||
| CREDITORS | |||
| Amounts falling due within one year | 5 | 1,200 | 4,550 |
| 4,550 | |||
| NET CURRENT ASSETS | 276,418 | 88,139 | |
| FUNDS | |||
| Unrestricted | 6 | 276,418 | 88,139 |
| Total funds | 276,418 | 88,139 |
Audit Exemption Statement
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements were approved by the Board of Trustees and authorised for issue on 02/10/2025 and were signed on its behalf by:
Signature:
Mr.Lutf Ur Rehman Trustee
On Behalf of the Board of Directors
The notes on pages 8 to 10 form an integral part of these accounts.
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Beacon Of Peace Limited Cash Flow Statement for the year ended 31 December 2024
| Cash flows from operating activities: Net cash provided by operating activities Note A Cash flows from investing activities: Cash flows from financing activities: Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Note B Cash and cash equivalents at the end of the reporting period Note B Note A: Reconciliation of net movement in funds to net cash flow from operating activities Adjustments for: Decrease (Increase) in debtors Increase/ (Decrease) in creditors Net cash provided by (used in) operating activities Note B: Analysis of cash and cash equivalents Cash at bank Overdraft facility repayable on demand Total cash and cash equivalents Net movement in Net movement in funds for the reporting period (as per the statement of financial activities) |
2024 £ 161,650 - - 161,650 90,447 252,097 188,279 (23,279) (3,350) 161,650 252,097 - 252,097 |
2023 £ (53,338) |
|---|---|---|
| - | ||
| - | ||
| (53,338) 143,785 |
||
| 90,447 | ||
| (51,188) (2,242) 92 |
||
| (53,338) | ||
| 90,447 - |
||
| 90,447 |
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Beacon Of Peace Limited Notes To The Financial Statements for the year ended 31 December 2024
1. Registration and Charity Status:
Beacon of Peace Limited was incorporated as a company limited by guarantee on 13 April 2015 and is registered with the Charity Commission for England and Wales (charity number 1161567), with registration completed on 7 May 2015. The charity is governed by its Memorandum and Articles of Association, as established upon incorporation. These governing documents set out the charity’s purposes, powers and the framework within which it operates, including the appointment and responsibilities of trustees, membership provisions and procedures for decision-making.
2. Accounting policies:
Basis of Preparation:
The financial statements of the charitable 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.
Income Recognition :
All income is recognised in the Statement of Financial Activities once the charity has an entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Voluntary income represents contributions made by members and donors and is recognised on the date of receipt. Income is recognised in the Statement of Financial Activities (SOFA) when:
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the charity becomes entitled to the resources;
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the trustees are virtually certain that they will receive the resources;
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the monetary value can be measured with sufficient reliability.
Grants and donations:
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax reclaims on donations and gifts:
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate only if the trustees are satisfied that the claim will be successful.
Expenses:
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Fund accounting:
Unrestricted funds consist of surplus funds that the management can allocate at their discretion for any purpose that furthers the objectives of the charity. In line with Charities SORP (FRS 102), these funds are not subject to specific donor-imposed restrictions and are therefore available for general use to support the charity’s charitable activities. As of the reporting date, the charity does not hold any restricted funds.
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Beacon Of Peace Limited Notes To The Financial Statements for the year ended 31 December 2024
Taxation:
The company is considered to pass the tests set out in Sch. 6, para. 1 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Pt. 11, Ch. 3 of the Corporation Tax Act 2010 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
| 3. Income: Donations from Majlis Ansarullah UK (Ltd) Voluntary donations Gift aid Other income |
2024 £ - 521,528 25,521 6,090 |
2023 £ 30,000 431,071 36,905 4,071 |
|---|---|---|
| 553,139 | 502,047 |
Other income includes a credit of £3,350 arising from the release of a trade creditor brought forward from 2023. Following a review, the trustees concluded that no present obligation existed in respect of this balance. Accordingly, it has been released to income in accordance with the Charities SORP (FRS 102).
| 4. Debtors and prepayments: Receivables |
2024 £ - |
2023 £ 2,242 |
|---|---|---|
| - | 2,242 |
As of the balance sheet date, the charity has an outstanding receivable amounting 0 for 2024 (£2,242 for 2023) from Majlis Ansarullah UK (LTD).
| 5. Creditors: amounts falling due with in one year: Other Payables Accruals 6. Unrestricted fund: Balance, 1st January Net increase in Unrestricted Funds Balance, 31st December |
2024 £ - 1,200 |
2023 £ 3,350 1,200 |
|---|---|---|
| 1,200 | 4,550 | |
| 2024 £ 88,139 188,279 |
2023 £ 139,327 (51,188) |
|
| 276,418 | 88,139 |
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Beacon of Peace Limited Notes To The Financial Statements for the year ended 31 December 2024
7.Expenditure on raising funds:
| Site arrangements. Transport and travel. Catering expenses at charity functions. Postage, printing and stationery. Medals. Advertisement. Other charity function costs. Subscriptions. Miscellaneous. Examiner fee. Bank charges. 8.Expenditures on charitable activities: Grants made to other institutions for humanitarian and charitable project. |
Direct Costs £ - - - - - Direct Costs £ 359,775 359,775 |
Support Costs £ - - - - - - - 68 - 1,200 3,817 5,085 Support Costs £ - - |
Total Funds 2024 £ - - - - - - - 68 - 1,200 3,817 5,085 Total Funds 2024 £ 359,775 359,775 |
Total Funds 2023 £ |
|---|---|---|---|---|
| 1,203 17,638 28,901 6,147 300 - - 259 9,081 1,200 3,979 |
||||
| 68,708 | ||||
| Total Funds 2023 £ 484,527 |
||||
| 484,527 |
9. Trustees’ remuneration and expenses:
No trustees received any remuneration for their role as trustees during the year (2024: £nil; 2023: £nil). No trustees were reimbursed for expenses during the year (2024: £nil; 2023: £nil).
10. Average number of employees:
The charity had no employees during the year (2023: none).
11. Post Balance Sheet Events and Related Party Transactions:
There were no material post-balance sheet events requiring disclosure in these financial statements. During the year, Majlis Ansarullah (UK) Limited, a connected charitable organisation, met the majority of the charity’s fundraising and operating costs.This support arrangement enables Beacon of Peace to maximise the use of donations received for grant-making purposes. Other than this, there were no related party transactions requiring disclosure under the Charities SORP (FRS 102).
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