Company Registration No. 07503230 (England and Wales) Registered Charity No. 1169190 (England and Wales)
The Queen Rania Foundation (A company limited by guarantee)
31 December 2024
THE QUEEN RANIA FOUNDATION
CONTENTS
| Page | |
|---|---|
| Legal and administrative details | 1 |
| Trustees | 2 |
| Trustees | 5 |
| Statement of Financial Activities | 6 |
| Balance sheet | 7 |
| Statement of cash flows | 8 |
| Notes to the Financial Statements | 9 |
THE QUEEN RANIA FOUNDATION
LEGAL AND ADMINISTRATIVE DETAILS
| Trustees | A Barbaro |
|---|---|
| S Darwazah | |
| D Freeman | |
| B Saad | |
| Company registration number | 07503230 |
| Charity registration number | 1169190 |
| Registered office | Queen Rania Foundation |
| North West House | |
| 119 Marylebone Rd | |
| London | |
| United Kingdom | |
| NW1 5PU | |
| Bankers | Europe Arab Bank plc |
| 35 Park Lane | |
| Mayfair | |
| London | |
| W1K 1RB | |
| Independent Examiner | Helen Wilkie FCA DChA |
| Saffery LLP | |
| 71 Queen Victoria Street | |
| London | |
| EC4V 4BE |
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THE QUEEN RANIA FOUNDATION
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The directors (who are also the trustees for the purposes of charity law) present their report and financial statements for the year ended 31 December 2024. The Board of Trustees are satisfied with the performance of the Charity during the year and the position at 31 December 2024 and consider that the assets are adequate to fulfil its obligations.
Structure, governance and management
The charity was incorporated as a company on 24 January 2011 and is governed by its Memorandum and Articles of Association. It is registered with the Charity Commission in England and Wales with charity number 1169190. The charity is a company limited by guarantee.
Objects
for all in Jordan and other parts of the world and the advancement, support, provision of health, sustenance and social well-
Trustees
The Trustees, who are also the directors of Queen Rania Foundation, for the purposes of company law, who have been in office during the year and to the date of this report are detailed on page 1.
Trustees are appointed by the existing Trustees for the specific skills and knowledge they can bring to the board. There is no formal training programme for trustees but they are encouraged to attend courses as and when appropriate.
Principal Activities & Review of Charitable Activities
The Queen Rania Foundation UK (QRF UK) continues to promote the advancement of education in Jordan and other parts of the world. The charity is now a fully volunteer driven organisation that is committed to raising the profile of issues related to education and the good work being delivered by QRF Jordan and other organisations with our shared mission of improving educational outcomes.
In 2024, QRF UK continued to pursue grants and funding support where possible and the partnership with the EEF continued. This partnership saw another phase of the project with a re-pilot of one of the models being tested aimed at students who are most struggling. LRF aims to assess the suitability and effectiveness of a phonic-based construction method in reading for students in Jordan in the first three grades.
QRF UK began increasing its engagement activity in 2024 as well. At the beginning of the year, QRF UK hosted an event in partnership with QRF Jordan in London. Over 20 UK stakeholders from leading UK and global organisations heard updates from the Director and Deputy Director of Research and Programs of QRF Jordan on Early Childhood Education. In addition, other opportunities were explored such as how to partner with peer-organisations on events. Finally, QRF UK ended the year hosting a smaller dinner with
Financial review
The charity had net outgoing resources of £5,503 in the year (2023: net incoming resources of £3,143), reflecting funding from The Queen Rania Foundation in Jordan less operating expenditure in the UK during the year.
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THE QUEEN RANIA FOUNDATION
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Reserves policy
At the year end the charity held reserves of £876 (2023: reserves of £6,379). Moving forward the Charity aims to almost exclusively work with volunteers and consultants to bring down its costs in line with the current economic hardships the UK is experiencing. As such, it will enable the Charity to keep its reserves to a minimum. As such, the charity requires minimal reserves.
Going Concern
After the charity has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties about the Fou
the short term, the charity is dependent on funding from The Queen Rania Foundation in Jordan, an independent sister-charity with a shared charitable mission, to meet its liabilities as they fall due. The Queen Rania Foundation in Jordan has provided a letter of support confirming its intention to continue to provide financial and other support to the charity for at least a year from the date these accounts are signed. The trustees have no reason to believe that The Queen Rania Foundation in Jordan will not be in a position to provide this support. Accordingly, the trustees consider that the charity is a going concern and the accounts have been prepared on that basis.
Fundraising policy
The Trustees take their responsibility under the Charities (Protection and Social Investment) Act 2016 seriously and have considered the implications on their fundraising activities.
The Charity does not petition any donations from members of the general public, and does not work with any third party commercial fundraiser. Any donations given to the Charity will only be accepted and used if they are within its aims. The trustees are not aware of any fundraising complaints made in respect of the financial year.
Risk management
The Trustees have a risk register that considers all the risks currently facing the charity and confirms that they have put in place systems, taking the necessary mitigations, and delivering plans related to those risks. The risk register is reviewed by trustees twice a year.
Public benefit
Benefit requirement under the Charities Act 2011 when reviewing the aims and objectives and in planning the future activities.
Plans for future periods
QRF will continue to deliver its mission. As the partnership and projects with the EEF come to an end, the priority is to identify new partnership opportunities and build its network in support of education and development in Jordan and the Middle East.
Engagement is key and positively the result of the dinner at the end of 2024 has been a funding -charity Edraak (once a project within QRF). In 2025, engagement plans so far have included hosting a Ramadan iftar dinner with
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THE QUEEN RANIA FOUNDATION
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QRF Jordan’s CEO (during his visit to London) in March 2025 with the purpose of engaging new stakeholders.
QRF UK was also a partner as well as speaking at two sessions at the World Literacy Summit hosted at the University of Oxford in April 2025. Further opportunities and events will be pursued throughout 2025.
The trustees (who are also directors of The Queen Rania Foundation for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company 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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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 applicable to smaller companies.
Approved by the Trustees on
and signed on their behalf by:
David Freeman Trustee
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THE QUEEN RANIA FOUNDATION
FOR THE YEAR ENDED 31 DECEMBER 2024
I report to the charity trustees on my examination of the accounts of for the year ended 31 December 2024.
Respective responsibilities of trustees and examiner
responsible for the preparation of the accounts in accordance with the requirements of the Companies
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
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 conseque report is limited to those matters set out in the statement below.
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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other as part of an independent examination; or
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the accounts 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 accounts 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 accounts to be reached.
Helen Wilkie FCA DchA Saffery LLP, 71 Queen Victoria Street, London, EC4V 4BE
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THE QUEEN RANIA FOUNDATION
STATEMENT OF FINANCIAL ACTIVITES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted funds Notes £ Income from: Grants and donations 39,990 Total income 39,990 Total expenditure on: Charitable activities 2 42,736 Total expenditure 42,736 Net income/(expenditure) (2,746) Transfers between funds 7 (2,897) Net movement in funds (5,634) Total funds brought forward at 1 January 2024 6,379 Total funds carried forward at 31 December 2024 736 |
Restricted Year Year funds ended ended 31 December 31 December 2024 2023 Total Total £ £ £ 203,932 243,922 99,417 203,932 243,922 99,417 206,689 249,425 96,274 206,689 249,425 96,274 (2,757) (5,503) 3,143 2,897 - - 140 (5,503) 3,143 - 6,379 3,236 140 876 6,379 |
Restricted Year Year funds ended ended 31 December 31 December 2024 2023 Total Total £ £ £ 203,932 243,922 99,417 203,932 243,922 99,417 206,689 249,425 96,274 206,689 249,425 96,274 (2,757) (5,503) 3,143 2,897 - - 140 (5,503) 3,143 - 6,379 3,236 140 876 6,379 |
|---|---|---|
| 99,417 | ||
| 96,274 | ||
| 96,274 | ||
| 3,143 - |
||
| 3,143 3,236 |
||
| 6,379 |
All incoming resources and resources expended derive from continuing activities.
There were no other recognised gains or losses in the year.
The notes on pages 9 to 15 form part of these financial statements.
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THE QUEEN RANIA FOUNDATION
BALANCE SHEET AS AT 31 DECEMBER 2024
| Notes | 2024 | 2023 | |
|---|---|---|---|
| £ | £ | ||
| Fixed assets | |||
| Tangible fixed assets | 4 | - | - |
| - | - | ||
| Current assets | |||
| Debtors | 5 | - | 8,114 |
| Cash at bank and in hand | 11,346 | 8,885 | |
| 11,346 | 16,999 | ||
| Current liabilities | |||
| Creditors: amounts falling due within one year | 6 | (10,470) | (10,620) |
| Net current assets | 876 | 6,379 | |
| Total net assets | 876 | 6,379 | |
| Represented by | |||
| Unrestricted funds | 7 | 876 | 6,379 |
For the year ended 31 December 2024 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject
Approved and authorised for issue by the board of directors on behalf by:
and signed on its
David Freeman Trustee
Company registration number 07503230 (England and Wales)
The notes on pages 9 to 15 form part of these financial statements.
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THE QUEEN RANIA FOUNDATION
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024
| Notes 2024 £ Cash flows from operating activities: Net cash provided by/used in from operating activities A 2,461 Change in cash in the year 2,461 Cash at bank and in hand at the beginning of the year B 8,885 Cash at bank and in hand at the end of the year B 11,346 Note A Reconciliation of net income to net cash flows from operating activities 2024 £ Net (expenditure)/income for the year as per Statement of Financial Activities (5,503) Decrease in debtors 5 8,114 Decrease in creditors 6 (150) Net cash flows provided by/(used in) operating activities 2,461 Note B Analysis of changes in net debt 1 January 2024 Movement in the year £ £ Cash at bank and in hand 8,885 2,461 |
2023 £ (6,655) |
|---|---|
| (6,655) | |
| 15,540 | |
| 8,885 | |
| 2023 £ 3,143 75,328 (85,126) |
|
| (6,655) | |
| At 31 December 2024 £ 11,346 |
All cash flows are derived from continuing operations during the above two periods.
The notes on pages 9 to 15 form part of these financial statements.
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THE QUEEN RANIA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
1.1 Company Status
The Queen Rania Foundation is a charitable company limited by guarantee. The registered office address is set out on page 1.
1.2 Basis of preparation and assessment of going concern
- 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 have been prepared in accordance with the Second Edition of the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The particular accounting policies are described below.
The Foundation constitutes a public benefit entity as defined by FRS 102.
1.3
Going concern
that the charity has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties about t a going concern.
the initial costs have been funded through a grant from The Queen Rania Foundation in Jordan, which will continue to support the charity with ongoing funding. The Trustees intend that income will continue to be generated in the UK during 2025 and in future years.
it to establish enough of a strong presence through partnerships that it will be transitioning to work almost solely with advisors and volunteers which will bring down its costs significantly.
The Queen Rania Foundation in Jordan has provided a letter of support confirming its intention to continue to provide financial and other support to the charity for at least a year from the date these accounts are signed. The trustees have no reason to believe that The Queen Rania Foundation in Jordan will not be in a position to provide this support. Accordingly, the trustees consider that the charity is a going concern and the accounts have been prepared on that basis.
1.4 Income
Income is recognised when the Charity is entitled to the income, the amount receivable can be reliably measured and the income is considered likely to be received. Where the charity has received donated services, and the estimated value of these to the charity can be reliably measured, the estimated value of the donated services is reflected in the Statement of Financial Activities and included within income and expenditure.
1.5
Tangible Fixed Assets
Expenditure on the acquisition of individual fixed assets are capitalised at cost.
Depreciation is provided to write off the cost of the asset less estimated residual value in equal instalments over their expected useful economic lives as follows:
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THE QUEEN RANIA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Plant & machinery 3 years
1.6 Expenditure recognition
- Expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measure reliably.
1.7 Allocation of support and governance costs Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to bookkeeping and legal fees together with an apportionment of overhead and support costs.
1.8 Financial instruments
The Foundation 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.
1.9 Fund accounting
The charity held the following funds during the year:
1.9.1 Unrestricted general funds
These are funds which can be used in accordance with the charitable objects at the discretion of the Trustees.
1.9.2 Restricted funds
These are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
1.10 Key judgements and assumptions
No key judgements or assumptions have been made by the Trustees in the preparation of the financial statements.
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THE QUEEN RANIA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
2 Charitable activities
| Advancing Education Consultancy costs in relation to EEF funded project Support costs Staff costs donated services (note 3) Rent and services (note 7) Other Governance costs The expenditure reported above includes: Amounts payable to the independent examiner for: Independent examination Other services |
2024 £ 170,663 30,000 36,026 1,030 11,706 249,425 2024 £ 3,000 8,249 |
2023 £ 17,623 30,000 32,144 5,435 11,072 |
|---|---|---|
| 96,274 | ||
| 2023 £ 2,750 8,637 |
3 Staff costs
During the year the average number of employees was 0 (2023: 0).
The charity considers its key management personnel to be the trustees and the Chief Executive. The charity no longer makes cash payments to its key management personnel but benefits from the support of staff members paid for by The Queen Rania Foundation in Jordan, an independent sister-charity. This benefit was valued at £30,000 and has been recognised in income and expenditure in the Statement of Financial Activities as a donated service in 2024 (2023: £30,000).
During the period no trustee received any remuneration nor reimbursement of expenses.
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THE QUEEN RANIA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4 Tangible fixed assets
| Cost At 1 January 2024 Additions At 31 December 2024 Depreciation At 1 January 2024 Depreciation charge for the year At 31 December 2024 Net book value At 1 January 2024 At 31 December 2024 5 Debtors Other debtors 6 Creditors: amounts falling due within one year Trade creditors Accruals and deferred income |
2024 £ - - 2024 £ 1,200 9,270 10,470 |
Plant & machinery £ 2,970 - |
|---|---|---|
| 2,970 | ||
| 2,970 - |
||
| 2,970 | ||
| - | ||
| - | ||
| 2023 £ 8,114 |
||
| 8,114 | ||
| 2023 £ - 10,620 |
||
| 10,620 |
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THE QUEEN RANIA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
7 Funds
| Unrestricted funds General fund Total Restricted funds Rent fund EEF fund Total Total funds Unrestricted funds General fund Total Restricted funds Rent fund EEF fund Total Total funds |
Balance at 1 January 2024 Incoming resources Outgoing resources Transfers Balance at 31 December 2024 £ £ £ £ £ 6,379 39,990 (42,736) (2,897) 736 |
|---|---|
| 6,379 39,990 (42,736) (2,897) 736 - 33,129 (36,026) 2,897 - - 170,803 (170,663) - 140 |
|
| - 203,932 (206,689) 2,897 140 |
|
| 6,379 243,922 (249,425) - 876 |
|
| Balance at 1 January 2023 Incoming resources Outgoing resources Transfers Balance at 31 December 2023 £ £ £ £ £ 3,236 46,990 (46,507) 2,660 6,379 |
|
| 3,236 46,990 (46,507) 2,660 6,379 - 34,804 (32,144) (2,660) - - 17,623 (17,623) - - |
|
| - 52,427 (49,767) (2,660) - |
|
| 3,236 99,417 (96,274) - 6,379 |
The Rent Fund represents donations which are initially to be property rent expense with any surplus able to be released to fund general charitable activities of the Foundation. Transfers between funds represent the release of the excess of income over rent expenditure or vice-versa.
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THE QUEEN RANIA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
8 Analysis of net assets between funds
| Unrestricted funds £ Fund balances at 31 December 2024 represented by: - Cash at bank and in hand 11,206 Creditors (10,470) 736 Unrestricted funds £ Fund balances at 31 December 2023 represented by: - Debtors 8,144 Cash at bank and in hand 8,885 Creditors (10,620) 6,379 |
Restricted funds £ 140 - 140 Restricted funds £ - - - - |
Total funds £ 11,346 (10,470) |
|---|---|---|
| 876 | ||
| Total funds £ 8,144 8,885 (10,620) |
||
| 6,379 |
9 Company status
The Queen Rania Foundation is a charitable company limited by guarantee. In the case of a winding up each member has guaranteed to contribute an amount not exceeding £10. At 31 December 2024 the total of such guarantees was £40 (2023: £40).
10 Related parties
Trustee donations of £33,129 were received in the year ended 31 December 2024 (2023: £34,804).
During the year The Queen Rania Foundation in Jordan, an independent sister-charity with a shared charitable mission, donated £9,990 to the charity (2023: £16,990).
During the year the charity paid £273 (2023: £177) to Irwin Mitchell LLP in relation to company secretarial services. David Freeman, a Trustee, is a consultant to Irwin Mitchell LLP.
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THE QUEEN RANIA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
11 Comparative information
Statement of financial activities (Incorporating an Income and expenditure account) for the year ended 31 December 2023
| Unrestricted Funds £ Income from: Grants and donations 46,990 Total income 46,990 Total expenditure on: Charitable activities 46,507 Total expenditure 46,507 Net (expenditure) 483 Transfers between funds 2,660 Net movement in funds 3,143 Total funds brought forward at 1 January 2023 3,236 Total funds carried forward at 31 December 2023 6,379 |
Restricted Funds £ 52,427 52,427 49,767 49,767 2,660 (2,660) - - - |
Total Funds £ 99,417 |
|---|---|---|
| 99,417 | ||
| 96,274 | ||
| 96,274 | ||
| 3,143 - |
||
| 3,143 3,236 |
||
| 6,379 |
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