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Amanah Aid
Trustees’ report and Financial statements
For the year ended 31 December 2023
1a Brayford Square London E1 0SG Registered charity no: 1167598
CONTENT
| Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Structure: Governance and Management | 2 |
| Independent Examiner’s Report to the | |
| Board of Trustees of Amanah Aid | 4 |
| Statement of Financial Activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 |
LEGAL AND ADMINISTRATIVE INFORMATION
Status
Charitable Incorporated Organization in England & Wales Registered 10[th] June 2016.
Charity Registration Number: 1167598
Trustees
M Foijul Islam Md Kamal Mamnoon Shahed Alam
Registered Office
1a Brayford Square London E1 0SG
Company Address
1a Brayford Square London E1 0SG
Banker
Lloyds Bank
Independent Examiner
CHARITY FINANCE AND ACCOUNTING LIMITED 64 Gale Street Dagenham, RM9 4PA
STRUCTURE: GOVERNANCE AND MANAGEMENT
Governing Document
Amanah Aid is established as a charitable organization CIO with the Charity’s Commission and is governed by a constitution.
The organization received its charity status from the Charity Commission on the 10[th] June 2016. The organizations is very small and simple in structure, enabling it to be focused on its objectives enabling three trustee; Chairman, Secretary and Treasure to run the day to day work with the support of other members and seek external support where required in the area of finance and accounts etc.
The trustees ensure to the best of their ability to ensure proper due diligence is carried out, end use of fund and value for money in implementing projects.
Our Aims and Objectives
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The advancement of education for the benefit of the general public, in particular but not exclusively for the poor and needy people of Bangladesh and UK by funding and supporting existing ongoing educational institutes and organizations.
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The relief of sickness and the preservation of health, in particular but not exclusively, among poor and needy people living in Bangladesh by funding and supporting existing ongoing healthcare institutes and organizations and by funding and supporting the installations of bore holes, water pumps and latrines buildings.
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The relief of financial hardship, in particular but not exclusively, among poor and needy people living in Bangladesh by funding and supporting the building of new temporary and permanent housing and repairing existing shelters damaged by natural and man-made disasters.
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The relief of financial need and suffering amongst victims of natural or other kinds of disaster, in particular in Bangladesh and the UK, in the form of food, food banks, food vouchers and money (or other means deemed suitable) for persons, bodies, organizations and/or countries affected including the provision of medical aid by arranging for the purchase and delivery of aid to such areas; cooperating with others to get aid to the right place; identifying the real needs of those affected by disaster and ways of meeting those needs;
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To further and advance such other purposes which may be charitable according to the law of England and Wales as the trustees see fit from time to time.
Public Benefit
The Trustees confirm that they have considered the general guideline issued by the Charity Commission in connection with Public Benefit in setting the objectives of the Charity and in particular they have considered hold planned activities further the Charity's objects.
Achievements and Performance
2023 was a relatively quiet year for the charity, likely impacted by the cost of living crisis. Our main focus was the construction of two community centers/Masjids in the impoverished rural areas of Sunamganj and Habiganj in Bangladesh. This project, initiated in 2022 and funded by our existing unrestricted funds,
began in 2023 and both centers were completed in 2024. Hundreds of predominantly poor and needy individuals will benefit from the Masjid project, providing them with a place to pray, gather, and address community matters.
In addition, we continued our annual Ramadan food parcel distribution, supporting over 400 poor and needy families across Sylhet, Habiganj, Sunamganj, and Brahmanbaria. These food packs typically include rice, onions, cooking oil, chickpeas, lentils, and other essentials, offering vital assistance during the holy month of Ramadan when work opportunities for day laborers are often limited.
Risk Management
The Trustees identify any risks to which the Charity might be exposed, including risks to the Charity's financial position, and reputation. Once these are reviewed, systems will be established to address these risks. The Trustees will going forward, review risk management on a regular basis.
Future Plan
There is no major plan at the moment and we want to focus on existing projects like Ramadan food pack, Winter, Emergencies like flood, cyclone etc and we may also look at establishing a long term community or education center for poor and needy people.
Financial review
In the year 2023 Amanah Aid raised a total of £13,602 (2022: £22,089 which is quite less compare to the previous financial year due to hardship with cost of living and donors donating a bit less than other years and spent £28,755 (2022: £24,488) leaving a deficit of £15,153 (2022: deficit £,2,399).
£270 was spent on Fundraising and £26,682 on charitable projects (details are shown in note 3). The closing fund balance at the end of the year was £11,940 for general unrestricted fund after transferring of to the restricted project.
Chart below shows expenditure in %
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Company law requires the trustees to prepare Financial Statements which give a true and fair view of the state of affairs of the Charity's at the end of the financial year and of its surplus or deficit for the financial period. In doing so the trustees are required to;
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Select suitable accounting policies and apply consistently;
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Make judgments and estimates that are reasonable and prudent;
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State whether applicable accounting standard have been followed, subject to any material departure disclosed and explained in the financial statements; and
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Prepare the financial statements are on a going concern basis unless it is inappropriate to presume that the charity will continue to operate. We have budget in operation for the next year and hope to achieve expected target.
The trustees are responsible to maintain proper accounting records which disclose with reasonable accuracy at any time, the financial position of the Charity and to enable them to ensure that the financial statement comply with the companies act 2006. The trustees are also responsible for safeguarding the assets of the Charity and hence taking reasonable steps for the prevention and detection or fraud and other irregularities.
These Accounts have been delivered in accordance with the provisions applicable to charities and approved by trustees on 21.10.2024.
Approved By:
Foijul Islam Trustee
Kamal Mamnoon Trustee
Shahed Alam Trustee
INDEPENDENT EXAMINER’S REPORT TO THE BOARD OF TRUSTEES OF AMANAH AID
I report on the accounts of the Amanah Aid for the year ended 31[st] December 2023, which are set out on pages 5 to 9.
Respective responsibilities of Trustees and Examiner
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
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(1) 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 general Directions given by the Charity Commission.
In the course of my examination, no matter has come to my attention:
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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
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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This report is prepared for the internal use of Amanah Aid only. No responsibility is assumed to any other person.
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
Alamgir Hossain, ACCA Charity Finance and Accounting London
Date:
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023
1 Accounting policies
a) Basis of accounting
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The accounting policies below have been adopted for material items.
b) Incoming resources
Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when Amanah Aid is entitled to the receipt and the amount can be measured with reasonable certainty. Gifts in Kind for which Amanah Aid accepts full responsibility for distribution are included in income at their market value when it is distributed and under Charitable Activities at the same value and time. The value of services provided by volunteers has not been included.
Grants, including grants for the purchase of fixed assets, are recognized in full in the Statement of Financial Activities in the year in which they are receivable.
c) Resources expended
Resources expended are recognized in the year in which they are incurred.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management.
Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
d) Tangible fixed assets and depreciation Non-programme expenditure of more than £50 per item for buildings, equipment and leasehold improvements is capitalised at cost. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Leasehold properties Straight line over Freehold properties 5% straight line Computers and software 25% straight line Fixtures and fittings 15% straight line Office equipment 15% straight line Motor vehicles 15% straight line
the life of the lease
e) Funds
General funds are unrestricted funds which are necessary for the proper functioning of the charity and other funds available for use at the discretion of the trustees in furtherance of the charity’s objectives.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes.
Restricted funds are funds which are subject to specific restrictions as imposed by the donor or nature of the appeal.
f) Taxation
As a registered charity, Amanah Aid is exempt from taxation of income and gains to the extent these are applied to charitable object
STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2023
| Unrestricted Funds Notes £ INCOME Voluntary income: Donations 2 13,603 TOTAL INCOME 13,603 EXPENDITURE Costs of raising funds: Fundraising cost 288 Expenditure on charitable activities: Programme expenditure 28,467 TOTAL EXPENDITURE 3 28,755 Net income/(expenditure) and net movement in funds for the year (15,152) Reconciliation of funds: Transfers between funds 4 - Total Funds brought forward 4 27,093 Total funds carried forward 11,941 |
Restricted Funds £ - - - - - - - - - |
Total 2023 £ 13,603 |
Total 2022 £ 22,089 |
|---|---|---|---|
| 13,603 | 22,089 | ||
| 288 28,467 |
289 24,199 |
||
| 28,755 | 24,488 | ||
| (15,152) - 27,093 |
(2,399) - 29,492 |
||
| 11,941 | 27,093 |
The results for the year shown above all derive from continuing operations.
All recognised gains and losses are reflected in the Statement of Financial Activities and therefore no separate statement of total recognised gains and losses has been presented.
The notes on pages 7 to 9 form an integral part of these financial statements.
BALANCE SHEET Balance sheet as at 31 December 2023
| Notes Fixed assets Tangible assets Investments Current assets Debtors Cash at bank and in hand Creditors: amounts falling due within one year Total assets less current liabilities Creditors: amounts falling due after more than one year Net assets The funds of the charity: Unrestricted income funds - General fund 4 Restricted income funds Total charity funds |
2023 £ - - - - 11,941 11,941 - 11,941 - 11,941 11,941 - 11,941 |
2022 £ - - |
|---|---|---|
| - - 27,093 |
||
| 27,093 - |
||
| 27,093 - |
||
| 27,093 | ||
| 27,093 - |
||
| 27,093 |
The financial statements were approved by the Trustees on: 17.10.2023 and signed on its behalf by: 21.10.2024
Kamal Mamnoon Foijul Islam Shahed Alam Chairman Secretary Treasurer
Foijul Islam Abdul Gaffar Chairman Secretary
The accompanying notes on pages 7 to 9 form an integral part of these Financial Statements
| Unrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|
| Funds | Funds | 2023 | 2022 | |||
| 2 | Donations | £ | £ | £ | £ | |
| General Donation | 13,603 | - | 13,603 | 22,089 | ||
| 13,603 | - | 13,603 | 22,089 | |||
| 3 | Analysis of expenditure on | charitable activities | 2023 | 2022 | ||
| Direct | Staff | Support | Total | Total | ||
| costs | costs | costs | costs | costs | ||
| £ | £ | £ | £ | £ | ||
| Cost of generating funds | 270 | - | 18 | 288 | 289 | |
| Charitable activities | ||||||
| Emergency relief | - | - | - | 12,368 | ||
| Housing | - | - | - | - | ||
| Masjid Project | 20,125 | 1,346 | 21,471 | 2,838 | ||
| Ramadan Food pack | 6,557 | 439 | 6,996 | 8,993 | ||
| Total Charitable activities | 26,682 | - | 1,785 | 28,467 | 24,199 | |
| Total expenditure | 26,952 | - | 1,803 | 28,755 | 24,488 |
3.1 Analysis of governance and support costs
| Governance cost Legal & Other Professional Fees Support costs Office Expenses |
2023 £ 500 500 1,303 1,303 1,803 |
2022 £ 500 |
|---|---|---|
| 500 1,703 |
||
| 1,703 | ||
| 2,203 |
| 3.2 Staff cost and number of employees The average monthly numbers of employees in the UK during the year were: Permanent Temporary Volunteer (head count) Employment costs Gross Pay Employer's national insurance |
2023 Number - - - 2023 £ - - - |
2022 Number - - - |
|---|---|---|
| 2022 £ - - |
||
| - |
No employee earned more than £60,000 during the year (2020: None).
4 Movement of funds
| Movement of funds | |||||
|---|---|---|---|---|---|
| As at | Incoming | Resources | As at | ||
| 01-Jan-23 | Resources | Expended | Transfers | 31-Dec-23 | |
| Unrestricted funds | £ | £ | £ | £ | £ |
| General fund | 27,093 | 10,826 | (288) | (25,690) | 11,941 |
| Total unrestricted funds | 27,093 | 10,826 | (288) | (25,690) | 11,941 |
| Project funds | |||||
| Emergency relief | - | - | - | - | - |
| Masjid Project | - | - | (21,471) | 21,471 | - |
| Ramadan Food pack | - | 2,777 | (6,996) | 4,219 | - |
| Total project funds | - | 2,777 | (28,467) | 25,690 | - |
| TOTAL | 27,093 | 13,603 | (28,755) | - | 11,941 |