Charity registration number: 1164020
## Palmyra Relief CIO
Annual Report and Financial Statements for the Year Ended 31 January 2025
Smartax Limited Chartered Certified Accountants and Statutory Auditors 38 Station Road Harrow Middlesex HA2 7SE
## **Palmyra Relief CIO**
## **Contents (continued)**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7 to 12|
## **Palmyra Relief CIO**
## **Reference and Administrative Details**
**Chairman** Mr M N Antabli **Trustees** Mr M N Antabli Mr A Chahrour Ms F Fiabane **Charity Registration Number** 1164020 **Principal Office** Basement 15 Warrington Crescent London W9 1ED **Reporting Accountants** Smartax Limited Chartered Certified Accountants and Statutory Auditors 38 Station Road Harrow Middlesex HA2 7SE
Page 1
## **Palmyra Relief CIO**
## **Trustees' Report**
The trustees present the annual report together with the financial statements of the charity for the year ended 31 January 2025.
## **Objectives and activities**
## _**Objects and aims**_
The objects of the charity is the advancement of health of children and young people (of up to 18 years) who have lost limbs as a result of the Syrian conflict, in particular but not exclusively by the provision of prosthetic limbs and related after-care services.
Nothing in the constitution shall authorise an application of the property of the charity for the purposes which are not charitable in accordance with section 7 of the Charities and Trustee Investment (Scotland) Act 2005 and section 2 of the Charities act (Northern Ireland) 2008.
The charity has power to do anything which is calculated to further its objects or is conducive or incidental to doing so.
During the Syrian conflict the charity aims to work with such children and young people in Syria's neighbouring countries of Turkey, Iraq, Jordan and Lebanon. Initially the focus is to work with the Turkish authorities on the Turkish border with Syria.
## _**Objectives, strategies and activities**_
To achieve its objects, the charity intends to purchase the prosthetic limbs and the necessary healthcare provision in the form of clinincal and allied service professionals to work with the individual child and young person. The professionals will design a tailored care plan starting with the fitting of the prosthetic limb.
Following the inital assessment and fitting, the charity aims to provide each child and young person involved with the necessary follow-up care required according to each case, taking into account the requirements associated with the person's growth in relation to the prosthetic limb.
This may take several years depending on the person’s circumstances and may include psychological interventions alongside the physical.
## _**Public benefit**_
The charity's activities are solely focussed on improving the health and wellbeing of children and young people. Through the provision of prosthetic limbs, the charity will improve their quality of life which in turn will benefit the community at large.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## _**Use of volunteers**_
The volunteers deal with paperwork, accounting, making travel arrangements, advertising for the charity and fundraising,
## **Achievements and performance**
During the period, the charity continued to focus on fundraising to meet its objectives. They continued to work with Dogan Medikal in Mersin, Turkey as a suitable healthcare centre and as a partner organisation. Dogan Medikal has a healthcare centre whose services focus around the provision and fitting of prosthetic limbs.
Page 2
## **Palmyra Relief CIO**
## **Trustees' Report (continued)**
## **Financial review**
The statement of financial activities shows net income of £2,384 (2024: £7,637) for the period. Funds as at 31 January 2025 stand at £99,629 (2024: £97,245). The trustees consider the state of the charity's affairs to be satisfactory.
## _**Policy on reserves**_
The charity is holding the reserves in order to fund further prosthetic limbs and after care as and when suitable beneficiaries are identified.
## _**Principal funding sources**_
The charity mainly organises fundraising events and makes personal appeals to private inidviduals and organisations.
## **Plans for future periods**
## _**Aims and key objectives for future periods**_
The charity will continue to look at better and more competitive ways to fund their activities. As the charity grows in funds and experience, it aims to extending their work into neighbouring countries who are faced with the same dilemmas of trying to help large numbers of displaced and disabled children and young people.
## **Structure, governance and management**
## _**Nature of governing document**_
The charity is controlled by its governing document, a constitution, and constitutes a charitable incorporated organisation under the Charities Act 2011.
## _**Recruitment and appointment of trustees**_
Apart from the first trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the trustees.
In selecting individuals for appointment as trustees, the trustees must have regard to the skills, knowledge and experience needed for the effective administration of the charity.
The trustees will make available to each new trustee, on or before his or her first appointment: a) a copy of the current version of the constitution; and b) a copy of the charity's latest Trustees' Annual Report and statement of accounts.
The maximum number of trustees is 12. The trustees may not appoint any trustee if, as a result of, the number of trustees would exceed the maximum.
Page 3
## **Palmyra Relief CIO**
## **Trustees' Report (continued)**
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that 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 Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on 21 November 2025 and signed on its behalf by:
......................................... Mr M N Antabli Chairman and Trustee
Page 4
## **Palmyra Relief CIO**
## **Statement of Financial Activities for the Year Ended 31 January 2025**
|**Note**
**Income and Endowments from:**
Donations and legacies
2
Investment income
3
Total income
**Expenditure on:**
Charitable activities
4
Total expenditure
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
9|**Unrestricted**
**£**
12,057
2,367
14,424
(12,040)
(12,040)
2,384
97,245
99,629|**Total**
**2025**
**£**
12,057
2,367
14,424
(12,040)
(12,040)
2,384
97,245
99,629|**Total**
**2024**
**£**
6,883
814|
|---|---|---|---|
||||7,697|
||||(60)|
||||(60)|
||||7,637
89,608|
||||97,245|
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 9.
The notes on pages 7 to 12 form an integral part of these financial statements. Page 5
## **Palmyra Relief CIO**
## **(Registration number: 1164020) Balance Sheet as at 31 January 2025**
|**Note**
**Current assets**
Cash at bank and in hand
8
**Funds of the charity:**
**Unrestricted income funds**
Unrestricted funds
**Total funds**
9|**2025**
**£**
99,629
99,629
99,629|**2024**
**£**
97,245|
|---|---|---|
|||97,245|
|||97,245|
The financial statements on pages 5 to 12 were approved by the trustees, and authorised for issue on 21 November 2025 and signed on their behalf by:
......................................... Mr M N Antabli Chairman and Trustee
......................................... Ms F Fiabane Trustee
The notes on pages 7 to 12 form an integral part of these financial statements. Page 6
## **Palmyra Relief CIO**
## **Notes to the Financial Statements for the Year Ended 31 January 2025**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
Palmyra Relief CIO meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **Exemption from preparing a cash flow statement**
The charity have taken advantage of reporting exemptions under FRS 102 and therefore not included a cash flow statement in these financial statements.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Judgements and key sources of estimation uncertainty**
In the application of the accounting policies, Trustees are required to make judgement, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods.
## **Income and endowments**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Donations and legacies**_
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
## _**Investment income**_
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank
Page 7
## **Palmyra Relief CIO**
## **Notes to the Financial Statements for the Year Ended 31 January 2025 (continued)**
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources.
## _**Raising funds**_
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## _**Grant expenditure**_
Grants payable are charged in the year when the offer is conveyed to the recipient. 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. Where a grant has been made for the benefit of an individual, or a group of individuals, through the means of an institution, this is recorded as a grant to the institution.
## **Support costs**
Support costs include central functions such as governance cost, finance and information technology incurred directly in support of expenditure on the objects of the charity. They have been allocated to activity cost categories on a basis consistent with the use of resources.
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
## **Irrecoverable VAT**
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable entity for UK corporation tax purposes. Accordingly, the charity is exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the 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.
## **Trade debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.
Page 8
## **Palmyra Relief CIO**
## **Notes to the Financial Statements for the Year Ended 31 January 2025 (continued)**
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Trade 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 normally recognised at their settlement amount after allowing for any trade discounts due.
## **Foreign exchange**
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the statement of financial activities in the period in which they arise.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
As at the balance sheet date, the charity did not have restricted funds.
## **Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans, which are subsequently measured at amortised cost using the effective interest method, and investments which are held at fair value.
## **2 Income from donations and legacies**
|Donations and legacies;
General donations|**Unrestricted**
**funds**
**£**
12,057
12,057|**Total**
**2025**
**£**
12,057
12,057|**Total**
**2024**
**£**
6,883|
|---|---|---|---|
||||6,883|
All of the prior year income was attributable to unrestricted funds.
Page 9
## **Palmyra Relief CIO**
## **Notes to the Financial Statements for the Year Ended 31 January 2025 (continued)**
## **3 Investment income**
|Interest receivable and similar income;
Interest receivable on bank deposits|**Unrestricted**
**funds**
**£**
2,367|**Total**
**2025**
**£**
2,367|**Total**
**2024**
**£**
814|
|---|---|---|---|
All of the prior year income was attributable to unrestricted funds.
## **4 Expenditure on charitable activities**
|**Note**
Provision of healthcare
Governance costs
5
**Activity**
**undertaken**
**directly**
**£**
Provision of healthcare
11,880|**Unrestricted**
**funds**
**£**
11,880
160
12,040
**Activity**
**support costs**
**£**
160|**Total**
**2025**
**£**
11,880
160
12,040
**2025**
**£**
12,040|**Total**
**2024**
**£**
-
60|
|---|---|---|---|
||||60|
||||**2024**
**£**
60|
All of the prior year income was attributable to unrestricted funds.
## **5 Analysis of governance and support costs**
## **Governance costs**
|Other governance costs
Allocated support costs|**Unrestricted**
**funds**
**£**
60
100
160|**Total**
**2025**
**£**
60
100
160|**Total**
**2024**
**£**
60
-|
|---|---|---|---|
||||60|
## **6 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
Page 10
## **Palmyra Relief CIO**
## **Notes to the Financial Statements for the Year Ended 31 January 2025 (continued)**
## **7 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **8 Cash and cash equivalents**
|**8**
**Cash and cash equivalents**||||
|---|---|---|---|
|Cash at bank
**9**
**Funds**
**Balance at 1**
**February 2024**
**£**
**Unrestricted**
General funds
97,245
**Balance at 1**
**February 2023**
**£**
**Unrestricted**
General funds
89,608
**10 Analysis of net assets between funds**
Current assets
Current assets
**11 Analysis of net funds**
Cash at bank and in hand
Net cash|**Incoming**
**resources**
**£**
14,424
**Incoming**
**resources**
**£**
7,697
**At 1 February**
**2024**
**£**
97,245
97,245|**2025**
**£**
99,629
**Resources**
**expended**
**£**
(12,040)
**Resources**
**expended**
**£**
(60)
**Unrestricted**
**funds**
**£**
99,629
**Unrestricted**
**funds**
**£**
97,245
**Cash flow**
**£**
2,384
2,384|**2024**
**£**
97,245|
||||**Balance at 31**
**January 2025**
**£**
99,629|
||||**Balance at 31**
**January 2024**
**£**
97,245|
||||**Total funds**
**2025**
**£**
99,629|
||||**Total funds**
**2024**
**£**
97,245|
||||**At 31 January**
**2025**
**£**
99,629
99,629|
Page 11
## **Palmyra Relief CIO**
## **Notes to the Financial Statements for the Year Ended 31 January 2025 (continued)**
|Cash at bank and in hand
Net cash|**At 1 February**
**2023**
**£**
89,608
89,608|**Cash flow**
**£**
7,637
7,637|**At 31 January**
**2024**
**£**
97,245|
|---|---|---|---|
||||97,245|
## **12 Related party transactions**
There were no related party transactions in the year.
Page 12