REGISTERED CHARITY NUMBER: 1171721 

Report of the Trustees and 

Unaudited Financial Statements for the Year Ended 31 July 2024 

for 

G1 Foundation 



G1 Foundation 

Contents of the Financial Statements for the Year Ended 31 July 2024 

|||Page||
|---|---|---|---|
|Reference and Administrative Details||1||
|Report ofthe Trustees||2||
|Statement of Financial Activities||3||
|Statement of Financial Position||4||
|Notes to the Financial Statements|5|to|8|
|DetailedStatementofFinancialActivities||9||





G1 Foundation 

Reference and Administrative Details for the Year Ended 31 July 2024 

## TRUSTEES 

TRUSTEES Mr M Jiwan Chair Mr Y Jaami Trustee Mr H K Jiwan Trustee Mr K Hussain Trustee Ms N Jiwan Trustee Ms S Akhtar Trustee PRINCIPAL ADDRESS 78 Tiptree Crescent \lford Essex London IG5 OSY REGISTERED CHARITY 1171721 NUMBER 

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G1 Foundation 

Report of the Trustees for the Year Ended 31 July 2024 

The trustees present their report with the financial statements of the charity for the year ended 31 July 2024. The trustees have adopted the provisions of 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 2019). 

## OBJECTIVES AND ACTIVITIES 

## Objectives and aims 

(1) To relieve sickness and to preserve good health among persons in need, by means of, but not exclusively, the provision or assistance in the provision of equipment, medicines, health education and facilities, such as hospitals, testing and treatment centres and clinics for the benefit of the said persons; 

(2) To relieve financial hardship, distress and suffering among orphans, widows, poor people, victims of natural disasters and other people in need by means of, but not exclusively, making grants or loans for providing or paying for items, equipment, services and facilities, including the provision of food, clean water, clothing and accommodation for the benefit of the said persons. 

## FINANCIAL REVIEW 

## Funds in surplus 

The charity received total income of £30 (£484 in 2023) during the year. After payments of outgoing expenses of £532 (£439 in 2023) the charity was left with a deficit of £502 (surplus £45 on 2023) for the year. 

## STRUCTURE, GOVERNANCE AND MANAGEMENT 

## Governing document 

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. 

Approved by order of the board of trustees on 19 May 2025 and signed on its behalf by: 

Mr H K Jiwan - Trustee 

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G1 Foundation 

Statement of Financial Activities for the Year Ended 31 July 2024 

|||31.7.24|31.7.23|
|---|---|---|---|
|||Unrestricted|Total|
|||funds|funds|
||Notes|£|£|
|INCOME AND ENDOWMENTS FROM||||
|Donations and legacies||30|484|
|EXPENDITURE ON||||
|Charitable activities||||
|Charitable activities||532|439|
|NET INCOME/(EXPENDITURE)||(502)|45|
|RECONCILIATION OF FUNDS||||
|Total funds broughtforward||906|861|
|TOTALFUNDSCARRIEDFORWARD||404|906|



The notes form part of these financial statements 

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G1 Foundation 

Statement of Financial Position 31 July 2024 

|||31.7.24|31.7.23|
|---|---|---|---|
|||Unrestricted|Total|
|||funds|funds|
||Notes|£|£|
|CURRENT ASSETS||||
|Cash at bank||404|906|
|NET CURRENT ASSETS||404|906|
|TOTAL ASSETS LESS CURRENT||||
|LIABILITIES||404|906|
|NET ASSETS||404|906|
|FUNDS|4|||
|Unrestricted funds||404|906|
|TOTALFUNDS||404|906|



The financial statements were approved by the Board of Trustees and authorised for issue on 19 May 2025 and were signed on its behalf by: 

Mr H K Jiwan - Trustee 

The notes form part of these financial statements 

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G1 Foundation 

Notes to the Financial Statements for the Year Ended 31 July 2024 

1. ACCOUNTING POLICIES 

## Basis of preparing the financial statements 

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. 

## Income 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## Expenditure 

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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

## Taxation 

The charity is exempt from tax on its charitable activities. 

## Fund accounting 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds 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. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

Page 5 

continued... 



G1 Foundation 

Notes to the Financial Statements - continued for the Year Ended 31 July 2024 

## 2. TRUSTEES' REMUNERATION AND BENEFITS 

There were no trustees’ remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023. 

## Trustees' expenses 

There were no_ trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023. 

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**----- Start of picture text -----**<br>
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES<br>Unrestricted<br>funds<br>£<br>INCOME AND ENDOWMENTS FROM<br>Donations and legacies 484<br>EXPENDITURE ON<br>Charitable activities<br>Charitable activities 439<br>NET INCOME 45<br>RECONCILIATION OF FUNDS<br>Total funds brought forward 861<br>TOTAL FUNDS CARRIED FORWARD 906<br>4. MOVEMENT IN FUNDS<br>Net<br>movement At<br>At 1.8.23 in funds 31.7.24<br>£ £ £<br>Unrestricted funds<br>General fund 906 (502) 404<br>TOTAL FUNDS 906 (502) 404<br>Page 6 continued...<br>**----- End of picture text -----**<br>




G1 Foundation 

Notes to the Financial Statements - continued for the Year Ended 31 July 2024 

## 4. MOVEMENT IN FUNDS- continued 

Net movement in funds, included in the above are as follows: 

**==> picture [463 x 103] intentionally omitted <==**

**----- Start of picture text -----**<br>
||||||
|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|30|(532)|(502)|
|TOTAL FUNDS|30|(532)|(502)|

**----- End of picture text -----**<br>


## Comparatives for movement in funds 

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**----- Start of picture text -----**<br>
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|Net|
|movement|At|
|At|1.8.22|in|funds|31.7.23|
|E|£|£|
|Unrestricted|funds|
|General|fund|861|45|906|
|TOTAL|FUNDS|861|45|906|
|Comparative|net|movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|zB|£|£|
|Unrestricted|funds|
|General|fund|484|(439)|45|
|TOTAL FUNDS|484|(439)|45|

**----- End of picture text -----**<br>


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continued... 



G1 Foundation 

Notes to the Financial Statements - continued for the Year Ended 31 July 2024 

## 4. MOVEMENT IN FUNDS- continued 

A current year 12 months and prior year 12 months combined position is as follows: 

|||Net||
|---|---|---|---|
|||movement|At|
||At 1.8.22|in funds|31.7.24|
||£|£|£|
|Unrestricted funds||||
|General fund|861|(457)|404|
|TOTALFUNDS|861|(457)|404|



A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: 

||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|Unrestricted funds||||
|General fund|514|(971)|(457)|
|TOTALFUNDS|514|(971)|(457)|



## 5. RELATED PARTY DISCLOSURES 

There were no related party transactions for the year ended 31 July 2024. 

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G1 Foundation 

## Detailed Statement of Financial Activities for the Year Ended 31 July 2024 

|Detailed Statement of Financial Activities<br>for the Year Ended 31 July 2024|||
|---|---|---|
||31.7.24|31.7.23|
||£|£|
|INCOME AND ENDOWMENTS|||
|Donations and legacies|||
|Donations|30|484|
|Total incoming resources|30|484|
|EXPENDITURE|||
|Charitable activities|||
|Rates and water|532|439|
|Total resources expended|532|439|
|Net(expenditure)/income|(502)|45|



This page does not form part of the statutory financial statements 

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