t.lld Patient Welfare Society Trustees, Annual report and Financial Statements Charity number 1163927 31 March 2024
Patient Welfare Society Trustees' Annual Report and Financial Statements 31 March 2024 Charity number 1163927
| Contents | |
|---|---|
| Page | |
| Trustees' Annual Report | 1 |
| Statement of trustees’ responsibilities in respect of the Trustees' Annual Report and the Financial Statements | 4 |
| Independent examination to the members of Patient Welfare Society (PWS) | 5 |
| Statement of Financial Activities | 6 |
| Statement of Financial Position | 7 |
| Statement of Cash Flows | 8 |
| Notes | 9 |
Patient Welfare Society Trustees' Annual Report and Financial Statements 31 March 2024 Charity number 1163927
Trustees' Annual Report
Reference and administrative details
Charity name:
Patient Welfare Society
Charity registration number: 1163927 Registered office: 47 Fairlands Avenue Buckhurst Hill Essex IG9 5TF
Board of Trustees: Dr Nasim Mahmood Chair Anees Ur Rehman Trustee/Treasurer Dr Tariq Razzaq Trustee Dr Aasem Masood Chaudhary Trustee
Accountants
Tax Direct Limited Chartered Certified Accountants 205 Ley Street, Ilford, Essex, IG1 4BL
Bankers
Lloyds bank
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Patient Welfare Society Trustees' Annual Report and Financial Statements 31 March 2024 Charity number 1163927
Objectives and activities
To relieve sickness and to preserve good health among the poor, underprivileged and people in need by means of, but not exclusively, the provision or assistance in the provision of equipment, medicines or grants for medical diagnosis and treatment, or provision of or assistance in the provision of health facilities, such as hospitals and clinics for the benefit of the said persons.
To relieve financial hardship, distress and suffering among poor people, victims of natural disasters and other people in need, by means of, but not exclusively, making grants or loans for providing or paying for items, equipment, services and facilities, including the provision of food, clothing, and accommodation for the said persons .
Achievements and performance
The Patient welfare society (PWS) is dedicated to helping local communities across UK and overseas. One of objective of PWS is to the advancement of health and this is achieved by donating grants to organisations that address this objective’s working closely with Pakistan Kidney center (PKC), the primary aim of PKC was to provide screening and treatment of kidney diseases including haemodialysis to the deserving patients who cannot afford the treatment .
We have generated funds of £122,317 (2023: £117,131) during the financial year from which £63,000 paid to Pakistan Kidney Center. We also bought medical equipment’s of £12,978 and donated to PKC. We held two charity events in Manchester and London during the year.
Financial review
During the year total donation received £122,317 (2023: £117,131). At 31 of March 2024 the charity had net assets of £60,066. Funds worth of £60,066 shown in these financial statements, cash flow forecast showing a significant healthy position. The Trustees have reasonable expectation that the Trust have adequate resources to continue operating for the next twelve months.
Structure, governance and management
The PWS was registered as UK Charity with Charity commission UK in 2015. The Charity’s Trustees who served as Trustees in the financial year ended 31 March 2024 were as follows:
Dr Nasim Mahmood (Chair) Dr Tariq Razzaq Dr Aasem Masood Chaudhry Anees Ur Rehman(Treasurer)
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Patient Welfare Society Trustees' Annual Report and Financial Statements 31 March 2024 Charity number 1163927
Structure, governance and management (Continues)
They were selected according to their knowledge of the area of benefit, their familiarity with aspects of the Charities’ work and expertise relevant to the Charities’ operations.
The Charity relies on the donation it receives from its membership and events to cover its operating costs.
The Charity’s governance is kept under regular review to confirm the terms of appointment, re-appointment process, rotation of Trustees etc.
PUBLIC BENEFIT
In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commission’s guidance on public benefit, including the guidance on public benefit and fee charging.
The Charity relies on the grant income it receives from its donors to cover its operating costs. There is no operating cost during the year.
The Patient Welfare Society (PWS) is dedicated to helping local communities and overseas projects. The main beneficiary is Pakistan Kidney Centre (PKC), Abbottabad, Pakistan.
PKC is a charity project, new built state of art modern dialysis centre offering dialysis services to needy patients since May 2015. PKC offer dialysis facilities to 50 patients every month, 75% patient are treated free with donations and 25% are fully or part self-paid. PKC also has started a community outreach screening program for prevention and early diagnosis of diseases that cause kidney failure.
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Patient Welfare Society Trustees' Annual Report and Financial Statements 31 March 2024 Charity number 1163927
Statement of trustees’ responsibilities in respect of the Trustees' Annual Report and the Financial Statements
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under that law they have are required to prepare the financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland].
Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the excess of income over expenditure for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements 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 the going concern basis unless it is inappropriate to presume that the charitable company will continue its activities.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities.
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Independent Examiner’s report to the Trustees of Patient Welfare Society
I report on the accounts of The Patient Welfare Society for the year ended 31 March 2024, which are set out on pages 6 to 13.
Respective responsibilities of trustees and examiner
The charity's trustee is responsible for the preparation of the accounts. The charity's trustee considers that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
M Tahir Jamil FCCA Director Tax Direct Limited Chartered Certified Accountants 205 Ley Street, Ilford, Essex, IG1 4BL
Date: 30[th] January 2025
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Patient Welfare Society Trustees' Annual Report and Financial Statements 31 March 2024 Charity number 1163927
Statement of Financial Activities Year ended 31 March 2024
| Unrestricted | Restricted | ||||
|---|---|---|---|---|---|
| Funds | Funds | Total Funds | Total Funds | ||
| 2024 | 2024 | 2024 | 2023 | ||
| Note | £ | £ | £ | £ | |
| Income from | |||||
| Donations | 2 | 122,317 | - | 122,317 | 117,131 |
| Gift Aid | 2 | - | - | - | 6,467 |
| Other | 599 | - | 599 | - | |
| ────── | ────── | ────── | ────── | ||
| Total income | 122,916 | - | 122,916 | 123,598 | |
| Expenditure on | |||||
| Charitable activities | 3 | (87,708) | - | (87,708) | (160,403) |
| ────── | ────── | ────── | ────── | ||
| Total expenditure | (87,708) | - | (87,708) | (160, 403) | |
| ────── | ────── | ────── | ────── | ||
| Net Income/(expenditure) | 35,208 | - | 35,208 | (36,805) | |
| ────── | ────── | ────── | ────── | ||
| Net movement in funds | 35,208 | - | 35,208 | (36,805) | |
| Reconciliation of Funds | |||||
| Total funds brought forward | 24,858 | - | 24,858 | 61,663 | |
| ────── | ────── | ────── | ────── | ||
| Total funds carried forward | 60,066 | - | 60,066 | 24,858 | |
| ══════ | ══════ | ══════ | ══════ |
All income and expenditure derives from continuing activities. All recognised gains and losses are included in the Statement of Financial Activities.
The notes on pages 9 to 13 form part of the financial statements.
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Patient Welfare Society Trustees' Annual Report and Financial Statements 31 March 2024 Charity number 1163927
Statement of Financial Position Year ended 31 March 2024
| Note | 2024 | 2023 | |
|---|---|---|---|
| £ | £ | ||
| Fixed assets | |||
| 7 | - | - | |
| Current assets | |||
| Cash and cash equivalents | 11 | 60,066 | 54,332 |
| ────── | ────── | ||
| 60,066 | 54,332 | ||
| Creditors:amounts falling due within one year | (-) | (29,474) | |
| ────── | ────── | ||
| Net current assets | 60,066 | 24,858 | |
| ────── | ────── | ||
| Net assets | 60,066 | 24,858 | |
| ══════ | ══════ | ||
| Funds | |||
| Unrestricted funds | 12 | 60,066 | 24,858 |
| Restricted funds | - | - | |
| ───── | ───── | ||
| Total charity funds | 60,066 | 24,858 | |
| ══════ | ══════ |
The notes on pages 9 to 13 form part of the financial statements.
These financial statements were approved and authorised for issue by the Board of Trustees and signed on its behalf by:
Nasim Mahmood Chair
Date of approval: 30[th] January 2025
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Patient Welfare Society Trustees' Annual Report and Financial Statements 31 March 2024 Charity number 1163927
| Statements of Cash Flows | |||
|---|---|---|---|
| Year ended 31 March 2024 | |||
| Note | |||
| 2024 | 2023 | ||
| Cashflow from operating activities | £ | £ | |
| Surplus(deficit)for the year | |||
| Adjustments for non-cash items | 35,208 | (36,805) | |
| Decrease/(increase) in trade and other debtors | - | 115,700 | |
| Increase/(decrease) in trade and other creditors | - | - | |
| (29,474) | (58,046) | ||
| Net cash provided by operating activities | ────── | ────── | |
| 5,734 | 20,849 | ||
| Cashflow from investing activities | - |
- | |
| Purchase of Liptomachine | - | - | |
| ────── | ────── | ||
| Net cash from investing activities | 5,734 | 20,849 | |
| Cashflow from financing activities | - | - | |
| Net change in cash and cash equivalents | ────── | ────── | |
| 5,734 | 20,849 | ||
| Cash and cash equivalents at beginning of the year | |||
| 54,332 | 33,483 | ||
| Cash and cash equivalents at end of the year | ────── | ────── | |
| 11 | 60,066 | 54,332 | |
| ══════ | ══════ |
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Patient Welfare Society Trustees' Annual Report and Financial Statements 31 March 2024 Charity number 1163927
Notes (forming part of the financial statements) Year ended 31 March 2024
1 Accounting policies
Patient Welfare Society (PWS) is a registered UK Charity.
Basis of preparation
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS 102)) and the Financial Reporting Standard 102 applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2016 and UK Generally Accepted Practice as it applies from 1 January 2015.
Going concern
Funds worth of £60,066 shown in these financial statements, cash flow forecast showing a significant healthy position. The Trustees have reasonable expectation that the Trust have adequate resources to continue operating for the foreseeable future.
It is the opining of the Trustee that the use of going concern basis of accounting is appropriate.
Income
Income, including grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured or estimated reliably.
Income from donations is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably .
Payments made to third parties during the year for goods or services that relate to periods after the year-end are disclosed as prepayments and shown in debtors. Goods or services that have been received or supplied by third parties during the year but an invoice has not been received by the year-end are accrued, and are disclosed in accruals and shown in creditors.
No VAT is recoverable on expenditure incurred given all income relates to activities either exempt or outside the scope for VAT purposes. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount after allowing for any trade discounts due.
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Patient Welfare Society Trustees' Annual Report and Financial Statements 31 March 2024 Charity number 1163927
Notes (forming part of the financial statements) Year ended 31 March 2024
Fund accounting
Unrestricted funds
Unrestricted funds are available for use at the discretion of the directors in furtherance of the general objectives of the charity.
Restricted reserves
Restricted reserves are subjected to restrictions on their expenditure imposed by the donor.
2 Donations
Donations of £63,000 were received during the year. Gift aid claimed received from HMRC was £nil (2023: £6,467). £300 paid to Tax Direct Limited for accountancy services fee which Tax Direct paid back to PWS as donation.
3 Expenditure on charitable activities
| 3 Expenditure on charitable activities | |||
|---|---|---|---|
| 2024 | 2024 | 2024 | |
| Unrestricted | Restricted | Total | |
| £ | £ | £ | |
| Donation paid to PKC | 63,000 | - | 63,000 |
| Donation of medical equipment to PKC | 12,978 | - | 12,978 |
| Governance Cost | 410 | - | 410 |
| Cost of event and other cost | 11,320 | - | 11,320 |
| ────── | ────── | ────── | |
| 87,708 |
- | 87,708 | |
| ══════ | ══════ |
══════ | |
| 2023 | 2023 | 2023 | |
| Unrestricted | Restricted | Total | |
| £ | £ | £ | |
| Donation paid to PKC | 28,157 | - | 28,157 |
| Donation of Lithotripter machine to PKC | 126,900 | - | 126,900 |
| Governance Cost | 360 | - | 360 |
| Cost of event and other cost | 4,986 | - | 4,986 |
| ────── | ────── | ────── | |
| 160,403 | - | 160,403 | |
| ══════ | ══════ | ══════ |
4 Net incoming/(outgoing) resources for the year
| This is stated after charging: | 2024 | 2023 |
|---|---|---|
| This is donated services from Tax Direct Limited –Refer to note 2 | £ | £ |
| Accountant remuneration: | ||
| Examination fee of these financial statements | 300 | 300 |
| ══════ | ══════ |
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Patient Welfare Society Trustees' Annual Report and Financial Statements 31 March 2024 Charity number 1163927
Notes (forming part of the financial statements) Year ended 31 March 2024
5 Remuneration of trustees
Trustees receive no remuneration for their role at Patient welfare Society.
6 Staff numbers and costs
There is no staff hired during the year
7 Analysis of net current assets between funds
| 2024 | 2024 | 2024 | |
|---|---|---|---|
| Unrestricted | Restricted | Total | |
| funds | Funds | ||
| £ | £ | £ | |
| Cash at banks and in hand | 60,066 | 60,066 | |
| Creditors due within one year | - | - | - |
| ────── | ────── | ────── | |
| Total | 60,066 | - | 60,066 |
| ══════ | ══════ | ══════ |
8 Analysis of net current assets between funds (Continued)
| 2023 | 2023 | 2023 | 2023 | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| Funds | Funds | ||||
| £ | £ | £ | |||
| Cash at banks and in hand | 54,332 | - | 54,332 | ||
| Creditors due within one year | (29,474) | - | (29,474) | ||
| ────── | ────── | ────── | |||
| Total | 24,858 | - | 24,858 | ||
| ══════ | ══════ | ══════ | |||
| 9 Analysis of change in net debts | |||||
| At 1 April | Cash flows | Other |
non Cash At |
31 March | |
| 2023 | Changes | 2024 | |||
| £ | £ | £ | £ | ||
| Cash and cash equivalents | |||||
| Cash at banks and in hand | 54,332 | 5,734 | - | 60,066 | |
| Deposits | - | - | - | - | |
| ────── | ────── | ────── | ────── | ||
| Total Cash | 54,332 | 5,734 | - | 60,066 | |
| ══════ | ══════ | ══════ | ══════ |
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Patient Welfare Society Trustees' Annual Report and Financial Statements 31 March 2024 Charity number 1163927
Notes (forming part of the financial statements) Year ended 31 March 2024
| Borrowings | ||||
|---|---|---|---|---|
| Debts due within 1 year | (29,474) | 29,274 | 200 | - |
| Debts due more than 1 year | - | - | - | - |
| ────── | ────── | ────── | ────── | |
| Total Borrowings | (29,474) | 29,274 | 200 | - |
| ────── | ────── | ────── | ────── | |
| Net Debts | 24,858 | 35,008 | 200 | 60,066 |
| ══════ | ══════ | ══════ | ══════ |
10 Taxation
Patient Welfare society is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. No tax charges have arisen in the charity.
11 Analysis of cash and cash equivalents
| 11 Analysis of cash and cash equivalents |
||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Cash at bank and in hand | 60,066 | 54,332 |
| ────── | ────── | |
| 60,066 | 54,232 | |
| ══════ | ══════ |
12. Movement in funds
| Unrestricted funds General Fund Restricted Fund General fund TOTAL FUNDS |
Balance at 01/03/2023 Net moment in funds Balance at 31/03/2024 24,858 35,208 60,066 |
|---|---|
| 24,858 35,208 60,066 |
|
| - - - |
|
| - - - |
|
| 24,858 35,208 60,066 |
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Patient Welfare Society Trustees' Annual Report and Financial Statements 31 March 2024 Charity number 1163927
Notes (forming part of the financial statements) Year ended 31 March 2024
13 Related party
There is no transaction with related parties during the year.
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