Charity registration number 1164079 (England and Wales) Company registration number 07843080
THE "AMNA BEGUM COMMUNITY WELFARE TRUST" (ABCWT) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023
THE "AMNA BEGUM COMMUNITY WELFARE TRUST" (ABCWT)
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mrs Amtul Akhtar Miss K Rotimi Mr S Bhanji Mr S Omar
(Appointed 12 May 2023) (Appointed 3 October 2023) (Appointed 3 October 2023)
Charity number (England and Wales) 1164079 Company number 07843080
Registered office 3 The Middle Way Harrow Middlesex United Kingdom HA3 7EG
Independent examiner
Reddy Siddiqui LLP 183-189 The Vale Acton London United Kingdom W3 7RW
THE "AMNA BEGUM COMMUNITY WELFARE TRUST" (ABCWT)
CONTENTS
| Page | |
|---|---|
| Trustee report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 11 |
THE "AMNA BEGUM COMMUNITY WELFARE TRUST" (ABCWT)
TRUSTEE REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 30 NOVEMBER 2023
The Trustees present their annual report and financial statements for the year ended 30 November 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
Objectives and activities
The charity's objectives are: Provide quality healthcare for underserved communities. Promote modern education for women and orphans through educational institutions. Establish vocational schools for skill development among disadvantaged individuals. Preserve the cultural heritage of the area. Support bright students through scholarship programs. Create income-generating opportunities for low-income people, such as sustainable plant resource cultivation and marketing.
Public benefit
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Significant activities and achievements against objectives
ABCWT is a small charity and has been working with poor and needy people, especially orphans. It is also trying to build an orphanage.
Most of the donation has been raised from friends and family members.
Financial review
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Structure, governance and management
The charity is a company limited by guarantee and a charity. It is operated under the rules of its memorandum and articles of association. . lt has no share capital and the liability of each member in the event of winding-up is limited to £1.
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mrs Amtul Akhtar Mr Asad Omar (Resigned 3 October 2023) Miss K Rotimi (Appointed 12 May 2023) Mr S Bhanji (Appointed 3 October 2023) Mr S Omar (Appointed 3 October 2023)
Recruitment and appointment of trustees
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
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THE "AMNA BEGUM COMMUNITY WELFARE TRUST" (ABCWT)
TRUSTEE REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023
The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).
The company's current policy concerning the payment of trade creditors is to:
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settle the terms of payment with suppliers when agreeing the terms of each transaction;
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ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
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pay in accordance with the company's contractual and other legal obligations.
Organisational structure
The Trustee report was approved by the Board of Trustees.
Mrs Amtul Akhtar
Trustee
28 November 2024
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THE "AMNA BEGUM COMMUNITY WELFARE TRUST" (ABCWT)
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE "AMNA BEGUM COMMUNITY WELFARE TRUST" (ABCWT)
I report to the Trustees on my examination of the financial statements of The "Amna Begum Community Welfare Trust" (ABCWT) (the charity) for the year ended 30 November 2023.
Responsibilities and basis of report
As the Trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
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 that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
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4 the financial statements 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 financial statements 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 financial statements to be reached.
Reddy Siddiqui LLP
183-189 The Vale Acton London W3 7RW United Kingdom 28 November 2024
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THE "AMNA BEGUM COMMUNITY WELFARE TRUST" (ABCWT)
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 NOVEMBER 2023
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| Notes | £ | £ | |
| Income and endowments from: | |||
| Donations and legacies | 3 | 55,216 | 42,881 |
| Other income | 4 | 7,163 | - |
| Total income | 62,379 | 42,881 | |
| Expenditure on: | |||
| Charitable activities | 5 | 68,611 | 48,432 |
| Total expenditure | 68,611 | 48,432 | |
| Net expenditure and movement in funds | (6,232) | (5,551) | |
| Reconciliation of funds: | |||
| Fund balances at 1 December 2022 | 8,737 | 14,288 | |
| Fund balances at 30 November 2023 | 2,505 | 8,737 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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THE "AMNA BEGUM COMMUNITY WELFARE TRUST" (ABCWT)
BALANCE SHEET
AS AT 30 NOVEMBER 2023
| Notes Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities The funds of the charity Unrestricted funds 14 |
2023 £ 1 1,641 1,642 (470) |
£ 1,333 1,172 2,505 2,505 2,505 |
2022 £ - 9,147 9,147 (410) |
£ - 8,737 |
|---|---|---|---|---|
| 8,737 | ||||
| 8,737 | ||||
| 8,737 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2023.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 28 November 2024
Mrs Amtul Akhtar
Trustee
Company registration number 07843080 (England and Wales)
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THE "AMNA BEGUM COMMUNITY WELFARE TRUST" (ABCWT)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023
1 Accounting policies
Charity information
The "Amna Begum Community Welfare Trust" (ABCWT) is a private company limited by guarantee incorporated in England and Wales. The registered office is 3 The Middle Way, Harrow, Middlesex, HA3 7EG, United Kingdom.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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THE "AMNA BEGUM COMMUNITY WELFARE TRUST" (ABCWT)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers 33.33%
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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THE "AMNA BEGUM COMMUNITY WELFARE TRUST" (ABCWT)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Donations and gifts | 55,216 | 42,881 |
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THE "AMNA BEGUM COMMUNITY WELFARE TRUST" (ABCWT)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023
4 Other income
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Other income | 7,163 | - | |
| 5 | Expenditure on charitable activities | ||
| Heading | Heading | ||
| #ac982 | #ac982 | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Direct costs | |||
| Charitable Expenditure | 67,179 | 48,006 | |
| Bank Charge | 99 | 126 | |
| 67,278 | 48,132 | ||
| Share of support and governance costs (see note 6) | |||
| Support | 667 | - | |
| Governance | 666 | 300 | |
| 68,611 | 48,432 | ||
| Analysis by fund | |||
| Unrestricted funds | 68,611 | 48,432 | |
| 6 | Support costs allocated to activities | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Depreciation | 667 | - | |
| Governance costs | 666 | 300 | |
| 1,333 | 300 | ||
| Analysed between: | |||
| Heading #ac982 | 1,333 | 300 |
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THE "AMNA BEGUM COMMUNITY WELFARE TRUST" (ABCWT)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023
| 7 | Net movement in funds | 2023 | 2022 |
|---|---|---|---|
| £ | £ | ||
| The net movement in funds is stated after charging/(crediting): | |||
| Fees payable for the independent examination of the charity's financial | |||
| statements | - | - | |
| Depreciation of owned tangible fixed assets | 667 | - | |
| 8 | Trustees | ||
| None of the Trustees (or any persons connected with them) received any remuneration or benefits from the | |||
| charity during the year. | |||
| 9 | Employees | ||
| The average monthly number of employees during the year was: | |||
| 2023 | 2022 | ||
| Number | Number | ||
| 1 | 1 | ||
| There were no employees whose annual remuneration was more than £60,000. | |||
| 10 | Taxation | ||
| The charity is exempt from taxation on its activities because all its income is applied | for charitable purposes. | ||
| 11 | Tangible fixed assets |
| 11 | Tangible fixed assets | ||
|---|---|---|---|
| Computers | |||
| £ | |||
| Cost | |||
| Additions | 2,000 | ||
| At 30 November 2023 | 2,000 | ||
| Depreciation and impairment | |||
| Depreciation charged in the year | 667 | ||
| At 30 November 2023 | 667 | ||
| Carrying amount | |||
| At 30 November 2023 | 1,333 | ||
| 12 | Debtors | ||
| 2023 | 2022 | ||
| Amounts falling due within one year: | £ | £ | |
| Trade debtors | 1 | - |
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THE "AMNA BEGUM COMMUNITY WELFARE TRUST" (ABCWT)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023
13 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Accruals and deferred income | 470 | 410 |
14 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 | Incoming | Resources | At 30 | |
|---|---|---|---|---|
| December | resources | expended | November | |
| 2022 | 2023 | |||
| £ | £ | £ | £ | |
| General funds | 8,737 | 62,379 | (68,611) | 2,505 |
| Previous year: | At 1 | Incoming | Resources | At 30 |
| December | resources | expended | November | |
| 2021 | 2022 | |||
| £ | £ | £ | £ | |
| General funds | 14,288 | 42,881 | (48,432) | 8,737 |
15 Related party transactions
There were no disclosable related party transactions during the year (2022 - none).
16 Cash absorbed by operations
| Cash absorbed by operations Deficit for the year Adjustments for: Depreciation and impairment of tangible fixed assets Movements in working capital: (Increase) in debtors Increase/(decrease) in creditors Cash absorbed by operations |
2023 £ (6,232) 667 (1) 60 (5,506) |
2022 £ (5,551) - - (300) |
| (5,851) |
17 Analysis of changes in net funds
The charity had no material debt during the year.
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