2023-08-31-accounts - Al-Farazdaq Foundation

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Al- FARAZDAQ FOUNDATION

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

CHARITY REGISTRATION No 1167222

AL- FARAZDAQ FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Constitution

Al- Farazdaq is an organisation governed by its charitable foundation.

Trustees

The trustees of the company during the period were :

Elected Trustees :

Haider Radam Alsaadi Nina Al- Saadi Soundus Al Saadi Huda Mohammed Amal Saeed Mrs Bedour Aleneizi Accountants Lewis Associates - 75 Coniston Gardens London NW9 0BA Bankers Co-Operative Bank Plc - Box 101, 1, Balloon Street Manchester M60 4EP

-1-

AL- FARAZDAQ FOUNDATION

Report of the Trustees for the year ended 31 August 2023

The Trustees directors are pleased to present the first period of financial statement and their report of the Foundation for the period .

Objects:

The objects of the company are:

To advance the education of childern and young people aged up to 16 in West Acton London, by the provision of supplementary education in the Arabic language.
To advance education and relieve poverty and sickness in Iraq, by the provision of grants.

Due to Covid -19 all charitable activities ceased and some funds were transferred to larger charitable bodies.

Organisation

A board of trustees of two members, who meet quarterly, administers the charity.

Trustees responsibilities in relation to the financial statements

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards and statements of recommended practices have been followed subject to any 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 accounting records which disclose with reasonable accuracy at anytime the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993. 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.

By order of the board:

………………………….. Haider Radam Alsaadi

5 April 2024

-2-

ACCOUNTANTS REPORT TO THE DIRECTORS ON THE UNAUDITED ACCOUNTS OF Al- FARAZDAQ FOUNDATION

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES

We report on the accounts of the trust for the year ended 31st August 2023, which are set out on pages 4 to 6.

Respective Responsibilities of Trustees and Examiner

As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirements of section 43(2) of the Charities Act 1993 (the Act) does not apply. It is our responsibility to state, on the basis of procedures specified in the general direction given by the Charity Commissioners under Section 43 (7)(b) of the Act, whether particular matters have come to our attention.

Basis of Independent Examiners’ Report

Our examination was carried out in accordance with the general directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with these 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, we do not express an audit opinion on the view given by the accounts.

Independent Examiners' Statement

In connection with our examination, no matter has come to our attention

1 which gives us reasonable cause to believe that in any material respect the requirements.
. to keep accounting records in accordance with section 41 of the Act; and
. to prepare accounts which accord with the accounting records and to comply with the accounting required of the Act have not been met; or
2 to which, in our opinion, attention should be drawn in order to enable a proper understanding of these accounts to be reached.

Lewis Associates Chartered Certified Accountants 75 Coniston Gardens London NW9 0BA

…………………………………………

5 April 2024

-3-

AL- FARAZDAQ FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES (including Income and Expenditure Account)

FOR THE YEAR ENDED 31 AUGUST 2023

	Note	Unrestricted	Unrestricted
		Funds	Funds
		2023	2022
		£	£
Incoming resources
Donations etc	1	15,678	16,286
		_____	_____
Net incoming resources available
for charitable application		15,678	16,286
Charitable expenditure
Grants to Orphanage , Iraq		800	-
Donation to various Charities		18,000	11,755
Bank charges		-	71
Total charitable expenditure		18,800	11,826
Net ( expenditure) / Income retained	for the year	(3,122)	4,460

Incoming resources and resulting net movement in funds in each year arise from continuing operations. The charity has no recognised gains or losses other than the net movement in funds for the year.

The notes on page 6 forms part of these financial statements.

-4-

AL- FARAZDAQ FOUNDATION

BALANCE SHEET AS AT 31AUGUST 2023

Note Current Assets Cash at bank and in hand Unrestricted funds -general 2	2023 2022 £ £ 2,641 5,763 2023 2022 £ £ 2,641 5,763

Approved by the Board of Trustees on 5 April 2024 and signed below on its behalf by

…………………………….. Haider Radam Alsaadi

The notes on page 6 forms part of these financial statements.

-5-

AL- FARAZDAQ FOUNDATION

NOTES FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

1 Accounting Policies

Basis of preparation of accounts

These accounts have been prepared under the historical cost convention with items recognised at cost or transactions value unless otherwise stated in relevant notes to these accounts.

The accounts have been prepared in accordance with:

the statement of recommended Practice : Accounting and Reporting by charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK issued on16th July 2014

Resources received

Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

Resources expended

Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT that cannot be recovered.

Fund accounting

Funds held by the company are either:

1 Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

2
	As At	Incoming	Outgoing	As At
	31.08.2022	Resources	Resources	31.08.2023
	£	£	£	£
General	5,763	15,678	18,800	2,641

-6-