The Fardad Foundation CIO Unaudited Report & Accounts Year ended 31 March 2022
The Fardad Foundation Contents
| Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Report of the Trustees | 2 - 10 |
| Independent Examiner's Report | 11 |
| Statement of Financial Activities | 12 |
| Balance Sheet | 13 |
| Cash Flow Statement | 14 |
| Notes forming part of the Financial Statements | 15 - 20 |
The Fardad Foundation Legal and Administrative Information
| Charity Name | The Fardad Foundation |
|---|---|
| Charity Number | 1176049 |
| Trustees | Elham Fardad |
| Anne Patricia Lorrimer-Roberts | |
| Paresh Kumar Mehta | |
| Anuoluwapo Opeyemi Adebogun | |
| Saeed Atcha MBE DL | |
| Registered Office | Chenies House |
| Woodbank | |
| Rickmansworth | |
| WD3 4GZ | |
| Independent Examiner | Moore Kingston Smith LLP |
| 9 Appold Street | |
| London | |
| EC2A 2AP | |
| Bankers | Lloyds Bank |
| Chelmsford Legg St Osc | |
| 1 Legg Street | |
| Chelmsford | |
| Essex | |
| CM1 1JS | |
| Solicitors | Abbiss Cadres LLP |
| 15 Old Bailey | |
| London | |
| EC4M 7EF |
Page 1
The Fardad Foundation Report of the Trustees For the year ended 31 March 2022
The Trustees present the financial statements for the year ended 31 March 2022. The financial statements cover the period 1 April 2021 to 31 March 2022.
The financial statements have been prepared in accordance with the accounting policies set out on pages 13 and 14 and comply with the Charities Act 2011, the Memorandum and Articles of Association, and 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).
In setting objectives for activities, the Trustees have given due consideration to the general guidance published by the Charity Commission relating to public benefit.
Structure, Governance and Management
The Fardad Foundation ("The Fardad Foundation" or "TFF") is a registered charity with registered charity number 1176049 (England and Wales).
The objectives of the charity are for the benefit of the public to advance such exclusively charitable purposes. TFF works directly with young first and second-generation migrants from deprived neighbourhoods, educational institutions and employers to provide bespoke support pathways towards the fulfilment of their true potential. TFF develops and delivers programmes, working with third parties and volunteers. The programmes include mentoring, workshops, work experiences and digital modules.
Migrant Leaders is a programme developed and delivered by The Fardad Foundation.
The Charity is governed by a board of trustees, who set the strategic and policy direction with day-to-day management functions being the responsibility of the Chief Executive and Executive Team.
The trustees who served during the reporting period and up to the date of signature were:
| Elham Fardad | Executive Team Trustee | |
|---|---|---|
| Paresh Kumar Mehta | Independent Trustee | |
| Anne Patricia Lorrimer-Roberts | Independent Trustee | |
| Anuoluwapo Opeyemi Adebogun | Independent Trustee | |
| Saeed Atcha MBE DL | Independent Trustee | Appointed 08/05/2021 |
Trustee Board updates are provided quarterly by the Chief Executive and trustees invited to quarterly Board meetings in addition to Advisory Board meetings where strategic decisions are made.
Page 2
The Governance of the charity includes the Executive Team, Trustees, Advisory Board, Young Leaders Panel and Patrons:
Objectives and Activities
The reporting period marks the completion of The Fardad Foundation’s fourth year as an independent UK charity founded by Elham Fardad, our Chief Executive. The strategic roadmap was set through a series of consultations at the beginning of the first period in order to create strong foundations in leadership, governance, efficiency and effectiveness of design and delivery of the programmes to the beneficiaries. TFF helps young migrants and in June 2018 at an Advisory Board the decision was taken to open up the candidate applications to all young people from disadvantaged backgrounds. This decision was in line with Elham Fardad objective to ‘give back to Britain’ for the opportunities that this country and the British people have given migrants, thereby boosting social mobility, tackling discrimination and strengthening communities:
The charity's aims are to:
-
= ,052,4( $0' '(8(.12 ',5$'8$06$(' ;170 /,*4$065 $&4155 6+( #" 61 %41$'(0 6+(,4 +14,<105 $0' &$2674( opportunities well beyond their aspirations;
-
= %7,.' .($'(45+,2 $0' /16,8$6( ;170 /,4$065 61 )7.),. 6+(,4 647( &$4((4 216(06,$.! &105(37(06.; /$:,/,5,0* their contributions to the British economy, society and communities;
-
= 2418,'( %(521-( 5722146 61 (37,2 6$.(06(' ;170 /,4$065 9,6+ 6+( -019.('*(! 5-,..5 $0' &10),'(0&( 61 enter and take on leadership roles in major public and private sector organisations.
Page 3
The Fardad Foundation Report of the Trustees (Continued) For the year ended 31 March 2022
Page 4
The Fardad Foundation Report of the Trustees (Continued) For the year ended 31 March 2022
The charity achieves these objectives by designing, developing and delivering its own programmes working with corporate partners and educational institutions to provide bespoke support pathways towards the fulfilment of their true potential:
Achievements and Performance
We have come a long way in responding to and supporting our deserving young people through Covid-19 and economic downturn by deepening the support we provide them through additional programmes, training, workshops, internships and connections. Furthermore, our Migrant Leaders Opportunity Fund is a life changing sponsorship, enabling migrant students to attend top universities.
Our continuing roadshow of presenting to and engaging with schools, universities, charities and communities across Britain has helped us stay in touch with the challenges that disadvantaged young people and ethnic minorities face. Our drive to scale up the impact of our charity means that as at March 2022 we have 1,000 senior mentors from more than 95 FTSE100 and leading firms supporting our 950 talented young mentees.
Key to our success has been in collaborating with the corporates to bring connections, insights and experiences to the young people on the charity’s development programme. We achieved this through enduring corporate partnerships, with Anglo America, Smith & Nephew, Kantar, ABB and Westcon-Comstor:
Page 5
The Fardad Foundation Report of the Trustees (Continued) For the year ended 31 March 2022
Page 6
The Fardad Foundation Report of the Trustees (Continued) For the year ended 31 March 2022
Furthermore, we responded decisively to the challenges communities faced during and beyond Covid-19 by launching our charity’s Mentee Mentor and EduTech Kids schemes and greatly scaled up our flagship Migrant Leaders programme:
----- Start of picture text -----
£2,295,000
£969,349
£627,553
----- End of picture text -----
During the 12 months to March 2022, in addition to the mentoring programme, we delivered the following key activities to our beneficiaries:
Page 7
The Fardad Foundation Report of the Trustees (Continued) For the year ended 31 March 2022
Page 8
The Fardad Foundation Report of the Trustees (Continued) For the year ended 31 March 2022
Since the launch of the charity in 2017, as at March 2022 the scale of our achievements can be described across the 3 elements of our development programme of mentoring, corporate experiences and digital programme:
Financial Review
The charity funds its activities through corporate and individual donations from vetted individuals. During this reporting period the source of funds were:
| Donations from Reza Fardad | £100,000 |
|---|---|
| Corporate Donation from Anglo American | £5,075 |
| Corporate Donation from St James’s Place | £2,500 |
| Corporate Donation from Ciena | £5,517 |
| Corporate Donation from Amazon | £1,405 |
| Corporate Donations in Kind | £829,200 |
| Gift aid | £25,652 |
The total income for the year was £969,349, and the total expenditure for the year was £1,010,106 . The charity has made a deficit of £40,757 in the year, following a surplus of £35,293 in the prior year.
Reserves Policy
At the year end, the charity’s unrestricted reserves totalled £98,267, all of which is unrestricted (2021: £139,024). The trustees have identified the total amount as a general reserve, which supports the overall running of the charity. It is the charity's intention to build on this reserve to support its charitable activities in the long term, which it is building towards.
Plans for Future Periods
The family personal donations were designed to support the charity in its formative years and are expected to continue in future rates at a similar level. This is coupled with the corporate partnerships we form in order to bring experiences, insights and training to the young people we support. The charity expects to grow in its fundraising and have taken an incremental approach, increasing programme staff resources as we secure sustainable funding sources. This is a critical part of the charity’s financial risk and sustainability approach.
Page 9
The Fardad Foundation Report of the Trustees (Continued) For the year ended 31 March 2022
Statement of Trustees' Responsibilities
The Trustees 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.)
The laws applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustees are required to:
• select suitable accounting policies and then apply them consistently;
• observe the methods and principles in the Charities SORP;
• make judgements and estimates that are reasonable and prudent;
• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
• 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 Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the CIO Constitution. They are also responsible for safeguarding the assets of the CIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Board of Trustees and signed on their behalf by:
................................................................ Elham Fardad Trustee
Date: 22/08/2022
Page 10
Independent Examiner's Report to the Trustees of The Fardad Foundation
I report to the trustees on my examination of the accounts of The Fardad Foundation for the year ended 31 March 2022 which are set out on pages 12 to 20.
Responsibilities and basis of report
As the trustees of the CIO you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the CIO's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner's Statement
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe:
-
(1) accounting records were not kept in respect of the CIO as required by section 130 of the Act; or
-
(2) the accounts do not accord with those records; or
-
(3) the accounts do not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
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.
James Saunders FCCA, DChA For and on behalf of Moore Kingston Smith LLP Chartered Accountants
9 Appold Street London EC2A 2AP
Date: 24/08/2022
Page 11
The Fardad Foundation Statement of Financial Activities For the year ended 31 March 2022
| Notes Income from: |
Unrestricted Restricted Total Total Funds Funds Funds Funds 2022 2022 2022 2021 £ |
|---|---|
| Donations received 2 Charitable activities Grants Total Income Expenditure on: Charitable activities 3 Total Expenditure Net income Transfers between funds Net movement in funds |
961,774 - 961,774 604,500 5,075 2,500 7,575 23,053 966,849 2,500 969,349 627,553 1,007,606 2,500 1,010,106 592,260 1,007,606 2,500 1,010,106 592,260 (40,757) - (40,757) 35,293 - - - - (40,757) - (40,757) 35,293 |
| Reconciliation of Funds: 11 |
|
| Total Funds bought forward | 139,024 - 139,024 103,731 |
| Total Funds carried forward | 98,267 - 98,267 139,024 |
The statement of financial activities includes all gains and losses recognised in the period.
All of the above amounts relate to continuing activities.
The notes on pages 15 to 20 form part of these financial statements.
Page 12
The Fardad Foundation Balance Sheet As at 31 March 2022
| Notes Fixed Assets Intangible fixed assets 7 Tangible fixed assets 8 Current Assets Debtors 9 Cash at bank Creditors: Amounts falling due within one year 10 Net Current Assets Net assets Funds 11 Unrestricted funds Restricted funds Total Funds |
£ £ 4,991 1,205 6,196 25,000 73,609 98,609 6,538 92,071 98,267 98,267 - 98,267 2022 |
£ £ 7,946 335 8,281 71,250 64,993 136,243 5,500 130,743 139,024 139,024 - 139,024 2021 |
£ £ 7,946 335 8,281 71,250 64,993 136,243 5,500 130,743 139,024 139,024 - 139,024 2021 |
|---|---|---|---|
| 8,281 130,743 139,024 |
|||
| 139,024 - |
|||
| 139,024 |
Approved by the Trustees and authorised for issue on 22/08/2022.
Signed on their behalf by:
................................................................ Elham Fardad Trustee
Page 13
The Fardad Foundation Cash Flow Statement As at 31 March 2022
| e Fardad Foundation sh Flow Statement at 31 March 2022 |
|||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Notes | £ | £ | £ | £ | |
| Cash flows from operating activities: | 9,756 | 12,449 | |||
| Cash flow from investing activities | |||||
| Purchase of intangible fixed assets | - | (2,219) | |||
| Purchase of tangible fixed assets | (1,140) | - | |||
| Net cash provided by investing activities | (1,140) | (2,219) | |||
| Change in cash and cash equivalents | 8,616 | 10,230 | |||
| Cash and cash equivalents at the beginning of the year | 64,993 | 54,763 | |||
| Cash and cash equivalents at the end of the year | 73,609 | 64,993 | |||
| Reconciliation of Net Income/(Expenditure) to Cash flows | from operating activities | ||||
| Net movement in funds for the reporting period (as | |||||
| per the statement of financial activities) | (40,757) | 35,293 | |||
| Adjustments for: | |||||
| Depreciation & amortisaton | 3,225 | 3,131 | |||
| Decrease / (increase) in debtors | 46,250 | (24,071) | |||
| Increase / (decrease) in creditors | 1,038 | (1,904) | |||
| Net cash used in operating activities | 9,756 | 12,449 | |||
| Analysis of cash and cash equivalents & net equity/(debt) | |||||
| Cash in hand | |||||
| At start of the year | 64,993 | 54,763 | |||
| Cash-flows | 8,616 | 10,230 | |||
| At end of year | 73,609 | 64,993 |
Page 14
The Fardad Foundation Notes to the Financial Statements For the year ended 31 March 2022
1 Accounting Policies
Charity information
The Fardad Foundation is a CIO limited by guarantee incorporated and registered in England and Wales. The registered office is Chenies House, Woodbank, Rickmansworth WD3 4GZ.
1.1 Basis of preparation
The CIO is a public benefit entity for the purposes of FRS 102. The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The financial statements have been prepared for the year ended 31 March 2022 in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.
The financial statements have been prepared on a going concern basis under the historical cost convention.
The principal accounting policies, which are applied consistently, are set out below.
1.2 Going concern
The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the CIO to continue as a going concern.
The trustees have made this assessment for a period of at least one year from the date of the approval of the financial statements. In particular, the trustees have considered the charitable company’s forecasts and projections and have taken into account the pressures on income. In making this assessment the trustees have considered the impact of Covid-19 and it is not anticipated that this will affect the charity’s ability to continue its charitable objects.
Having carried out a detailed review of the Charity's resources and the current economic challenges facing the Charity, the Trustees are satisfied that the Charity has sufficient cash flows and adequate resources to meet its liabilities as they fall due for at least one year from the date of approval of the financial statements and that it is appropriate for the accounts to be prepared on the going concern basis.
1.3 Status
The CIO is a registered charity, (number 1176049).
1.4 Income
Income is recognised in the Statement of Financial Activities when it becomes receivable, and the entitlement, measurement and probability principles are met.
Donated services are included at their estimated open market value.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Governance costs relate to the direct running of the Charity allowing the Charity to operate and generate the information required for public accountability. These costs have all been allocated to charitable activities.
All costs are allocated between expenditure categories of the SoFA on a basis to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on a direct cost basis.
Page 15
The Fardad Foundation Notes to the Financial Statements (Continued) For the year ended 31 March 2022
1.6 Fund accounting
Unrestricted funds are those which are available for the general purposes of the Charity at the discretion of the Trustees.
The Fardad Foundation had no restricted funds at 31 March 2022.
1.7 Critical accounting estimates and areas of judgement
In the view of the trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.
(i) Gifts in kind
Gifts in kinds are recognised within incoming resources and expenditure at an estimate of the value to the charity of the donated services or goods. Where possible the value of services/goods are confirmed directly with the supplier however in some instances this information is not available and a best estimate is made of the expected cost of such goods based on what the charity would be willing to pay for similar services or goods at a market rate.
1.8 Short term benefits
Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.
1.9 Pension costs
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity in the year.
1.10 Foreign currency
Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are retranslated at the balance sheet date. All exchange differences are included in the statement of financial activities.
1.11 Intangible fixed assets and amortisation
Intangible fixed assets comprise website development costs. This is recognised at cost and are measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation commences once the asset is completed and brought into use and is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Website development costs 5 years straight line basis.
1.12 Fixed assets and depreciation
All fixed assets with a value over £500 are capitalised at cost, being their purchase cost together with any incidental expenses at acquisition, and depreciated to their estimated residual value over their estimated useful lives as follows:
Computer equipment 4 years straight line basis.
2. Voluntary Income - Donations and Legacies
| 2022 £ 107,574 829,200 25,000 961,774 |
2021 £ |
|
|---|---|---|
| Donations | 100,000 | |
| Donated Services Gift aid |
479,500 25,000 |
|
| 604,500 |
Page 16
The Fardad Foundation Notes to the Financial Statements (Continued) For the year ended 31 March 2022
| 3. Charitable activities Year to 31 March 2022 Mentoring programme Conferences & workshops Digital programme Opportunity Fund Mentee Mentor Programme EduTech Kids Scheme Charitable activities Period to 31 March 2021 Mentoring programme Conferences & workshops Digital programme Opportunity Fund Mentee Mentor Programme EduTech Kids Scheme 4. Support costs allocated to activities Staff costs Employment costs Marketing costs Office costs Staff Entertaining Staff travel costs Trustee expenses Independent examiners fees Accountancy fees Legal & professional fees Depreciation & amortisation 5. Staff Costs Wages and salaries Social security costs Pension costs The average monthly number of employees was: Average number of employees |
Direct costs £ 447,820 346,588 99,309 79,123 6,456 2,564 981,860 Direct costs £ 411,068 96,742 17,516 21,586 2,602 5,660 555,174 |
(Note 4) Support costs £ 15,985 5,649 2,825 1,412 2,315 60 28,246 (Note 4) Support costs £ 21,731 7,417 3,709 1,854 2,315 60 37,086 2022 £ 3,727 3,228 6,202 2,215 - 156 658 3,936 1,944 2,955 3,225 28,246 2022 £ 35,843 - 1,424 37,267 2022 1 |
2022 £ 463,805 352,237 102,134 80,535 8,771 2,624 |
|
|---|---|---|---|---|
| 1,010,106 | ||||
| 2021 £ 432,799 104,159 21,225 23,440 4,917 5,720 |
||||
| 592,260 | ||||
| 2021 £ 3,891 1,301 15,783 5,038 114 - 288 3,750 1,750 2,040 3,131 |
||||
| 37,086 | ||||
| 2021 £ 37,799 |
||||
| - | ||||
| 1,112 | ||||
| 38,911 | ||||
| 2021 1 |
No employee received remuneration of more than £60,000 during the year (2021: Nil)
6. Trustees and Key Management Personnel
The Charity considers that the key management personnel are the Trustees. The total employment benefits, incuding pension costs of key management personnel was Nil (2021:Nil) During the period one trustee (2021: one) received £658 for the reimbursement of expenses (2021: £288) relating to travel and meeting expenses.
Page 17
The Fardad Foundation Notes to the Financial Statements (Continued) For the year ended 31 March 2022
7. Intangible fixed assets
| Website development costs £ Cost At 01 April 2021 14,777 Additions - At 31 March 2022 14,777 Amortisation At 01 April 2021 6,831 Charge per year 2,955 At 31 March 2022 9,786 Net book value At 31 March 2022 4,991 At 31 March 2021 7,946 8. Tangible fixed assets Computer Equipment £ Cost At 01 April 2021 702 Additions 1,140 At 31 March 2022 1,842 Depreciation At 01 April 2021 367 Charge per year 270 At 31 March 2022 637 Net book value At 31 March 2022 1,205 At 31 March 2021 335 |
Total £ 14,777 - |
|---|---|
| 14,777 | |
| 6,831 2,955 |
|
| 9,786 | |
| 4,991 | |
| 7,946 | |
| Total £ 702 1,140 |
|
| 1,842 | |
| 367 270 |
|
| 637 | |
| 1,205 | |
| 335 |
Page 18
The Fardad Foundation Notes to the Financial Statements (Continued) For the year ended 31 March 2022
| The Fardad Foundation Notes to the Financial Statements (Continued) For the year ended 31 March 2022 |
||
|---|---|---|
| 9. Debtors Other debtors 10. Creditors: Amounts falling due within one year Accruals and deferred income 11. Analysis of Funds |
2022 £ 25,000 25,000 2022 £ 6,538 6,538 |
2021 £ 71,250 |
| 71,250 | ||
| 2021 £ 5,500 |
||
| 5,500 | ||
| Unrestricted Funds Restricted Funds Total Funds |
At 1 April 2021 £ 139,024 - 139,024 |
Income £ 966,849 2,500 969,349 |
Expenditure £ (1,007,606) (2,500) (1,010,106) |
Transfers £ - - - |
At 31 March 2022 £ 98,267 |
|---|---|---|---|---|---|
| - | |||||
| 98,267 |
Restricted funds
A grant was provided by St James Place for the Digital Zone project, a web-based learning zone for Mentors and Mentees aged 16-25 years to assist with the Young Leader Module.
| Unrestricted Funds Restricted Funds Total Funds |
At 1 April 2020 £ 103,731 - 103,731 |
Income £ 625,053 2,500 627,553 |
Expenditure £ (589,760) (2,500) (592,260) |
Transfers £ - - - |
At 31 March 2021 £ 139,024 |
|---|---|---|---|---|---|
| - | |||||
| 139,024 |
Page 19
The Fardad Foundation Notes to the Financial Statements (Continued) For the year ended 31 March 2022
12. Analysis of Net Assets between Funds
| Analysis of Net Assets between Funds | ||||
|---|---|---|---|---|
| Year to 31 March 2022 Unrestricted funds Total funds Year to 31 March 2021 Unrestricted funds Total funds |
Fixed Assets £ 6,196 6,196 Fixed Assets £ 8,281 8,281 |
Current Assets £ 89,993 89,993 Current Assets £ 136,243 136,243 |
Current Total Liabilities Tunds £ £ (6,538) 89,651 (6,538) 89,651 Current Total Liabilities Funds £ £ (5,500) 139,024 (5,500) # 139,024 |
Total Tunds £ 89,651 |
| 89,651 | ||||
| Total Funds £ 139,024 |
13. Capital commitments
At 31 March 2022 the charity had no capital commitments not provided for in the financial statements.
14. Related Party Transactions
During the period, the Foundation received donations totalling £100,000 from R Fardad, (2021: £100,000) who is a close family member to E Fardad, a trustee of the charity.
During the period E Fardad loaned the charity £15,000. No interest was charged on this and the loan was repayable on demand. The loan was repaid in full during the year.
There were no other related party transactions that require disclosure in the year under review.
Page 20
www.migrantleaders.org.uk
enquiries@migrantleaders.org.uk linkedin.com/company/migrant-leaders
twitter.com/MigrantLeaders
facebook.com/MigrantLeadersUK instagram.com/migrantleaders_
The Fardad Foundation (TFF) is a UK registered charity that works directly with young people from deprived neighbourhoods, educational institutions and employers to provide bespoke support pathways towards the fulfilment of their true potential. TFF develops and delivers programmes, working with third parties and volunteers. Incorporated independently, TFF is governed by a diverse Trustees Board.
The Fardad Foundation (TFF) is registered as a charity with the Charity Commission in England and Wales with registered charity number 1176049.