CHARITY REGISTRATION NUMBER: 1179091 The Hasil Foundation Unaudited Financial Statements 31 March 2025 CHAMBERLAINS UK LLP Chartered Accountants 173 Cleveland Street London UK W1T6QR
The Hasil Foundation Financial Statements Year ended 31 March 2025 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements The following pages do not form part of the financial ststements Detailed statement of financial activities 14
The Hasil Foundation Trustees, Annual Report Year ended 31 March 2025 The Iruslees present their report and the unaudited financial statements of the charity for the year ended 31 March 2025. Reference and administrative details Registered charity namg The Hasil Foundation Charity registration number 1179091 Principal office 82 Chasewood Park Sudbury Hill Harrow Middlesex HA1 3YR United Kingdom The trustees H T Sulerwalla A H Sulerwalla M H Sulerwalla S H Sulerwalla Independent examiner Shammir Shah Chamberlains UK LLP Chartered Accounlanls 173 Cleveland Street London UK W1T6QR Structuro. governance and management a) Governing Document The Ha5il Foundation is conslituled under a Declaration of Trust Deed dated 17th May 2018 and constitutes an unincorporated charity and is a registered charity under the registration number 1179091. bl Method of appointment or election of Trustees The Foundation shall have at least three trustees but not more than six trustees. Every future Iruslee shall be appointed by a resolution of the trustees passed al a special meeting. In selecting persons to be appointed as trustees, the trustees shall lake into account the benefits of appointing a person who is able by virtue of his or her personal or professional qualifications to make a contribution to the pursuit of the objects or the management of the charity. c) Public Benefit Statement In accordance with the Charities Act 2011, the trustees confirm that they have given due consideration to the Charity Commission Public Benefit Guidance as required by Section 4 of the Charities Act 2011.
The Hasil Foundation Trustees, Annual Report (conlAnuedJ Year ended 31 March 2025 Objectives and activities The Foundation's objectives and activities are such general charitable purposes under the laws of England and Wales for the benefit of the public as the Trustees from lime lo lime in their discretion think Achievements and performance The charity was estsblished on 5 July 2018 and is aiming to support other charities with similar objectives and goals. During the year, the Foundation made total donations of £6,87212024." £83,450) to various charitable organisalions. In addition, the Foundation has continued to invest funds in a portfolio which consists of stocks and shares which is managed by a fund manager. The income generated from the portfolio will be used to furtherance the objectives of the Foundation. Golng concern The trustees believe that due lo the availability of reserves, there are no material uncertainties about the charity's ability to continue for al least the next 12 months from the date of this report. Risk management The Iruslees have a risk management strategy which comprises.. an annual review of the major risks the charity may face., the eslablishmenl of systems and procedures designed lo mitigate major risks., the implementation of prOdureS designed lo minimise any potential impact on the charity should those risks materialise. Reserves policy The lolal reserve funds as of 31 March 2025 stood al £948,58612024.' £893,040) and all the reserves are unrestri¢led i.e. they Can be applied al the discretion of the trustees. The reserves policy is reviewed on a regular basis and adjusted as risk perceptions and other factors change. When reviewing and monitoring the reserve policy, the trustees ensure that they identify when the reserves are drawn on so that they understand the reasons and can consider the corrective actions, if any, that need to be taken. The level of reserves is reviewed annually by the trustees. Financial review During the year lo 31 March 2025, the Charity had earned investment income of £80,202 12024". £19,613) and had incurred investment management costs of £8,709 12024.. £8,690). Furthermo, expenditure on charitable activities during the year had amounted lo £10,34412024". £67,736).
The Hasil Foundation
Trustees' Annual Report (continued)
Year ended 31 March 2025
The trustees' annual report was approved on 24 January 2026 and signed on behalf of the board of trustees by:
M H Suterwalla Trustee
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The Hasil Foundation Independent Examiner's Report to the Trustees of The Hasil Foundation Year ended 31 March 2025 I report lo the trustees on my examination of the financial statements of The Hasil Foundation I'lhe charily'l for the year ended 31 March 2025. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 I'the Act'i. I report in respect of my examination of the charity's financial statements 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 14515llbl of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect". accounting records were not kept in respect of the charity as required by section 130 of the Act., or the financial ststemenls do not accord with those records., or the financial statements do not comply with the applicable requirements concerning the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair. view which is not a matter considered as part of an independent examination. I have no GOnrnS and have come across no other matters in connection with the examination to which allenlion should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Shammir Shah Chamberlains UK LLP Chartered Accountants Independent Examiner 173 Cleveland Street London UK W1T6QR 24 January 2026
The Hasil Foundation Statement of Financial Activities Year ended 31 March 2025 2025 Unrestricted funds Total funds Total fvnds 2024 Note Incomg and endowments Investment income 80,202 80,202 19,613 Total income 80.202 80,202 19,613 Expenditure ExpendilLJre on raising funds". Investment management costs Expenditure on charitable activities Total expenditure 8,709 10,344 8,709 10,344 19,053 8,690 67,736 76,426 19,053 Net Igainslllosses on investments 5,603 5,603 134,2071 Net Incomellexpendlture} and net movement In funds 55,546 55,546 122,6061 Reconclllatlon of funds Total funds brought forward Total funds carried foThvard 893,040 893,040 915,646 948,586 948,586 893,040 The slalement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The note8 on pages 7 to 12 fomi part of thes8 financial statem8nts.
The Hasil Foundation
Statement of Financial Position
31 March 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note | £ | ||
| Fixed assets | |||
| Investments | 12 | 931,917 | 607,520 |
| Current assets | |||
| Cash at bank and in hand | 24,169 | 294,460 | |
| Creditors: amounts falling due within one year | 13 | 7,500 | 8,940 |
| Net current assets | 16,669 | 285,520 | |
| Total assets less currentliabilities | 948,586 | 893,040 | |
| Net assets | 948,586 | 893,040 | |
| Funds of the charity | |||
| Unrestricted funds | 948,586 | 893,040 | |
| Total charity funds | 14 | 948,586 | 893,040 |
These financial statements were approved by the board of trustees and authorised for issue on 24 January 2026, and are signed on behalf of the board by:
M H Suterwalla Trustee
The notes on pages 7 to 12 form part of these financial statements.
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The Hasil Foundation Notes to the Financial Statements Year ended 31 March 2025 General information The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 82 Chasewood Park, Sudbury Hill, Harrow, Middlesex, HA1 3YR, United Kingdom. Statement of Compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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 IFRS 1021 (Charities SORP IFRS 10211 and the Charities Act 2011. Accounting policies Basis of preparation The financial ststements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern The Iruslees believe that due to the availability of reserves, there are no material uncertainties about the charity's ability lo continue for at least the next 12 months from the dale of this report. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management lo make judgements, estimates and assumptions that affect the amounts reported. These eslimales and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed lo be reasonable under the circumstances. Taxation The company is a registered charity and as such is entitled to the exemption from lax to the extent that the income falls within section 505 ICTA 1988 and section 256 CGTA and is applied for charitable purposes only. Value Added Tax is not recoverable by the company and is therefore included in the relevant costs in the Statement of Financial Activities. Fund accounting Unreslricled funds are available for use at the dIretIOn of the trustees lo further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future pmject or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two surtlasses.. restricted income funds or endowment funds.
The Hasil Foundation Notes to the Financial Statements iconllnued) Year ended 31 March 2025 Accounting policies (continuodj Incoming resources All incoming reSoUrS are included in the statement of financial activities when entitlement has passed to the charity,. il is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is eviden of entitlement lo the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and enlillement is established. income from donated goods is measured at the fair value of the goods unless this is impractical lo measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. ineome from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a conlraclual requirement for il lo be spent on a particular purpose and returned if unspent, in which case il may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities lo which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further ils charitable aims for the benefit of ils beneficiaries, including those support costs and costs relating lo the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related lo raising funds for the charity nor part of Ils expenditure on charitsble activities. All costs are allocated lo expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly lo that activity. Shared costs are apportioned bebNeen the activities they contribute lo on a reasonable, justifiable and consislenl basis. Investments Unlisted equity investments are initially recorded al cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
The Hasil Foundation Notes to the Financial Statements iconllnued) Year ended 31 March 2025 Accounting policies (continuodj Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected lo be paid or received and not discounted. Debt instruments are subsequently measured at amortised cosL Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequendy measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed al a rate of interest that is not a market rate, in which case the asset is measured al the present value of the future payments discounted al a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured al fair value, with any changes recognised in the slalemenl of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured al cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting dale. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity Instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit nsk characlerislics. Any reversals of impairment are recognised immediatety. to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Income from cash investments Income from other investments Bank interest receivable other interest receivable 2,046 13,078 2,046 13,078 73,702 5,960 540 73,702 5,960 540 4,489 4,489 80,202 80,202 19,613 19,613
The Hasil Foundation Notes to the Financial Statements iconllnued) Year ended 31 March 2025 Investment management costs Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Portfolio management fees 8,709 8,709 8,690 8,690 Expenditure on charitable activities by fund type Unrestricted Totsl Funds Unrestricted Total FLJnds Funds 2025 Funds 2024 Donations made Support eosts 6,872 3,472 6,872 3,472 63,450 4,286 63,450 4,286 10,344 10,344 67,736 67,736 Expendlture on charltable actlvltles by actlvlty type Activities undertaken directly Support Totsl funds costs 2025 Total fund 2024 Donations made Governance costs 6,872 6,872 3,472 63,450 4,286 3,472 6,872 3,472 10,344 67,736 Net Igainslllosses on investments Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 IGainslllosses on fair value movement on financial assets Realised Igainslllosses on disposal of investment assets 16,6031 15,6031 7,520 7,520 26,687 34,207 26.687 15,6031 15,6031 34,207 Independent examination fees 2025 2024 Fees payable to the independent examiner for.. Independent examination of the financial statements 1,500 1,500 10. Staff costs The average head count of employees during the year was Nil12024.' Nill. No employee received employee benefits of more than £60,000 during the year12024'. Nill. 10
The Hasil Foundation Notes to the Financial Statements iconllnued) Year ended 31 March 2025 11. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the Iruslees. 12. Invostments Other investments Cost or valuation At 1 April 2024 Additions Disposals Fair value movements 607,520 1,470,001 11,140,000) 15,6041 931,917 At 31 March 2025 Impaimient At 1 Aprll 2024 and 31 March 2025 Carrying amount At 31 March 2025 931,917 At 31 March 2024 607,520 All investments shown above are held at valuation. 13. Creditors.. amounts falling due within one year 2025 2024 Trade creditors Accruals and deferred income 4,200 3,300 4,740 4,200 7,500 8,940 14. Analysis of Charitsble funds Unrestricted funds At 1 April 2024 Gains and At losses 31 March 2025 Income Expenditure General funds 893,040 80,202 119,0531 15,6031 948,586 Al 1 April 2023 Gains and At losses 31 March 2024 Income Expenditure General funds 915,646 19,613 176,4261 34,207 893,040 11
The Hasil Foundation Notes to the Financial Statements iconllnued) Year ended 31 March 2025 15. Analysis of net assets between funds Unrestricted Total Funds Funds 2025 Investments Current assets Creditors less than 1 year Net assets 831,917 124,169 17,5001 948,586 831,917 124,169 17,5001 948,586 Unrestricted Total FLJnds Funds 2024 Investments Current assets Creditors less than 1 year Net assets 607,520 294,460 18,9401 893,040 607,520 294,460 18,9401 893,040 12
The Hasil Foundation Management Information Year ended 31 March 2025 The following pages do not form part of the financial statements. 13
The Hasil Foundation Detailed Statement of Financial Activities Year ended 31 March 2025 2025 2024 Incomg and endowments Investment income Income from cash investments Income from other investments Bank Interest receivable Other interest receivable 2,046 13,078 73,702 5,960 540 4,489 80,202 19,613 Total income 80,202 19,613 Expenditure Investment management costs Portfolio management fees 8,709 8,690 Expendlture on charltable actlvltles Sundry expenses Legal and professional fees Charitable donations Bank charges 138 3,301 6,872 33 4,199 63,450 87 10,344 67,736 Total expenditure 19,053 76,426 Net {gainslllosses on investments (Gainslllosses on fair value movement on financial assets Realised IgainslAosses on disposal of investment assets 5,603 17,5201 126,6871 134,2071 5,603 Net incomellexpenditure} 55,546 122,6061 14
The Hasil Foundation - Financial Statements for year ended 31 March 2025 Final ALJdil Report 2026-01-23 Created.. 20264)1-23 By.. Chamberfains UK LLP 1sharnmir@chamberlainsuk.coml Slalus.. Signe(I Transaction ID.. CBJCHBCAABAAX26HYfYwG(IbbzaC7r_brzpuynqCSShh4 "The Hasil Foundation - Financial Statements for year ended 31 March 2025" History Docum8nt created by Chamb8rlains UK LLP lshammir@chamberlainsuk.coml 2026-01-23- 1.'54.'04 PM GMT Document emailed to Mumlaz Suterwalla 1mumtaz.sulerwalla@mac.coml for signature 2026-01-23- 1.'54.'55 PM GMT Email viewed by Mumlaz Sulerwalla 1mumlaz.sulerw8118@mac.coml 2026-01-23- 3."40."35 PM GMT Document e-signed by Mumlaz Sulerwalla Imumlaz.suletwalla@ma¢.¢oml Signature Dale.. 202M1-23- 3.'40'.51 PM GMT- Time Source.. server Agreement completed. 2026-01-23- 3..40..51 PM GMT IJ Adobe Acrobat Slgn