Charity Registration No. 1173602
DIYA EDUCATION FOUNDATION (the "Charity")
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
DIYA EDUCATION FOUNDATION
CONTENTS
| CHARITY INFORMATION | 3 |
|---|---|
| TRUSTEES' REPORT | 4 |
| INDEPENDENT EXAMINER REPORT | 7 |
| STATEMENT OF FINANCIAL ACTIVITIES | 8 |
| STATEMENT OF FINANCIAL POSITION | 9 |
| NOTES OF THE ACCOUNTS | 10 |
DIYA EDUCATION FOUNDATION
CHARITY INFORMATION
| Trustees | Current | Joined |
|---|---|---|
| SANA AHMED | 1 January 2016 | |
| NOORUR RAHMAN ABID | 1 January 2014 | |
| FAROUK CHAUDHRY | 7 February 2019 | |
| WASEEM SADIQUE | 1 January 2016 | |
| HAMZA SALMAN ABID | 7 February 2019 | |
| Charity number | 1173602 | |
| Registered office: | 7 St. Christophers Court, Lower Road, Chorleywood, | |
| Rickmansworth, Hertfordshire, WD3 5JZ |
DIYA EDUCATION FOUNDATION
TRUSTEES' REPORT
FOR THE YEAR ENDED 30 JUNE 2022
The trustees present their report and financial statements for the year ended 30 June 2022.
Objectives:
The advancement of education among underprivileged students in Pakistan by supporting DIYA Pakistan, an NGO registered in Pakistan by such means as are exclusively charitable in accordance with the laws of England and Wales including but not limited to awarding scholarships, maintenance allowances or any other financial assistance to students studying in primary or secondary schools, colleges, institutions of higher or further education, vocational institutes or universities.
Governing Document:
The charity is controlled by its governing document and constitutes a charitable incorporated organization (CIO) by the Charites Act 2006.
Activities and performance during the year:
The attached accounts reflect the financial performance of the charity during the year ended 30 June 2022. Donations received were transferred to Diya Pakistan to meet their charitable objectives.
How our organisation stipulates how the funds should be used by Diya Pakistan:
Diya Education Foundation actively decides how the funds would be utilised in Pakistan. The process is phased in different steps as explained below:
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Diya Education Foundation will ask Diya Pakistan to provide a report on the areas where the funds are required. Diya Education Foundation will also be involved in local research to gather the information where funds are required for educational needs.
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Diya Education Foundation will scrutinise the information for eligibility criteria, standard operating procedures, control mechanism and monitoring methodology being exercised by Diya Pakistan.
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After evaluating the report, the trustees will decide to release the funds to Diya Pakistan. Diya Pakistan will receive the funds in different stages based on the completion of project. This is to ensure that Diya Education Foundation is fully involved in the project and the reporting would be requested at each stage before any further funds are released.
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Diya Education Foundation will continuously monitor the process and would also be involved in direct supervision to ensure the funds are being utilised for objectives they have been remitted for.
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Diya Pakistan will also be responsible to provide the completion report for the funds received and then utilised in Pakistan for the objectives confirmed by Diya Education Foundation.
Grants
Diya Education Foundation has an independent grant evaluation criterion based on the following principles:
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i) Eligibility of Beneficiaries / Impact Analysis
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ii) Policies and procedures iii) Equal Opportunity / No Discrimination Policy
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iv) Continuous Monitoring Mechanism
Leadership and Management Team
Diya Pakistan is led by a highly qualified and professional management team since inception. Diya Education Foundation would like to work with Diya Pakistan to utilise their resources and expertise in this field. Its current leadership and management team include the following:
Mr. Noorur Rahman Abid
Ms. Sana Ahmed
Ms. Maria Anzar Mr. Ashar Nazim Mr. Qutub Yousafali
- Mr. Hamza Salman Abid
Mr. Adil Farooq Abid
Mr. Nasar Moazam
Brig. Aftab Ahmad (retd.) Brig. Iftikhar Hussain Shah (retd.) Ms. Amna Khokhar
Mr. Saad Asghar Ali
Continuous Monitoring Mechanism
In addition, Diya Education Foundation will deploy a multi-pronged continuous mechanism whereby the activities of Diya Pakistan would be monitored and reviewed by:
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i) Field visits and direct feedback
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ii) Quarterly management reports
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iii) External audit reports
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iv) Attendance in Diya Pakistan's Board meetings
On behalf of the board of trusteeg, 25 April 2023 Waseem Sadiq Noorur Rahman Abid Sana Ahmed Trustee Trustee Trustee Farouk Chaudhry Hamza Salman Abid Trustee Trustee
INDEPENDENT EXAMINER REPORT TO THE TRUSTEES' OF DIYA EDUCATION FOUNDATION FOR THE YEAR ENDED 30 JUNE 2022
We report on the accounts for the Year ended 30th June 2022 set out on pages 8 to 11.
Respective responsibilities of trustees and examiner:
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(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
It is my responsibility to:
examine the accounts under Section 145 of the 2011 Act 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 to state whether particular matters have come to my attention.
Basis of the independent examiner's report:
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 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 statements below.
Independent examiner's statement:
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that, in any material respect, the requirements
to keep accounting records in accordance with Section 130 of the 2011 Act; and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mrs. Mehreen Khalid Director Swenta Limited IFA Membership No:269191 27 April 2023
DIYA EDUCATION FOVNOAMON STATEMENTOF FINANCIALACTMTIES FOR THE YEAR ENDED 30JUNE 2022 JuTr22 JuTr21 Income and Endowments tk)nations- (Unrestricted fund51 36,195 34,382 Total 5ntomin8 r•s(wrc•s ,195 Resources empended Pakistan educatlon prolects 8ank charges Total rèsources txptndÈd Surplus fundslor th• p•rlod and canl•d forward .195
DIYA EDUCAnON FOUNDATION STATEMENT OF FINANOAL POSrnON AS AT 30JUNE 2022 3fyJY22 30-)un-21 Cz5h in hand 70.659 34.464 Net assets 70,659 Re5ew¥•s Unrestricted Fund5 70.659 34.464 Totsi funtls 70,659
DIYA EDUCATION FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
AS AT 30 JUNE 2022
1. Reporting entity
Diya Education Foundation (the "Charity") is a registered charity and operates from 7 St. Christophers Court, Lower Road, Chorleywood, Rickmansworth, Hertfordshire, WD3 5JZ. The charity was incorporated on 28 June 2017.
2. Basis of preparation
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 01 January 2015)', 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.
These financial statements are presented in Pound Sterling, which is the Charity's functional currency. Except as otherwise indicated, financial information presented has been rounded to the nearest pound sterling.
3. Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds and it is probable that the income will be received and the amount can be measured reliably. 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 objective of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
4. Tax
The charity is exempt from tax on its charitable activities
- Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits or expenses paid for the year ended 30th June 2022.
- Subsequent Event
Subsequent to the year-end, the Board of Trustees approved a transfer of £23,000 to Diya Pakistan. This amount was transferred to Diya Pakistan on 20 November 2022, 25 November 2022 and 22 December 2022.