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2022-12-31-accounts

DocuSign Envelope ID: 919FF143-8728-49A4-9BF5-5A307DA29B40

Registered Charity Number: 1180111

The Trust Foundation

Annual Report and Financial Statements

For the year ended 31 December 2022

DocuSign Envelope ID: 919FF143-8728-49A4-9BF5-5A307DA29B40

The Trust Foundation

Contents
Page
Trustees’ report 1-4
Trustees’ responsibilities statement 5
Independent auditor's report 6-8
Statement of financial activities 9
Balance sheet 10
Cash flow statement 11
Notes to the financial statements 12-15

DocuSign Envelope ID: 919FF143-8728-49A4-9BF5-5A307DA29B40

The Trust Foundation Trustees’ report

For the year ended 31 December 2022

Introduction

This is the 2022 annual report of the trustees of The Trust Foundation (TTF). It is presented together with a trustees’ responsibilities statement on page 5, the independent auditor’s report on pages 6-8 and the TTF financial statements for the year ended 31 December 2022 on pages 9 to 15.

The TTF financial statements for the year ended 31 December 2022 have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity’s constitution, the Charities Act 2011 and the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP) 2016, and applicable UK accounting standards FRS 102.

The trustees’ annual report complies with the requirements of 2016 Charities’ SORP, and in addition the Charity Commission’s Public Benefit Reporting Requirements and the Charities Act 2011.

The Board of Trustees are satisfied with the performance of TTF during the year and the position at 31 December 2022. The Board consider that TTF is in a strong position to continue its activities during the coming year, and that the charity's assets are adequate to fulfil its obligations.

Who we are

Name of organisation

Full name: The Trust Foundation

Acronym: TTF

Charity number

1180111

Structure, Governance and Management

TTF was established as a Charitable Incorporated Organisation (CIO) registered with the Charity Commission on the 27th September 2018.

Objectives

Mission

The objectives of TTF include:

Values

TTF's mission is to empower the poor enabling them and their families and communities to become self-sufficient and live a dignified life.

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DocuSign Envelope ID: 919FF143-8728-49A4-9BF5-5A307DA29B40

The Trust Foundation Trustees’ report For the year ended 31 December 2022

Structure, Governance and Management (continued)

Decision making

As a grant making charity that does not undertake any fundraising, all substantive decisions in 2022 were made by the trustees. The trustees do not consider there to be any key management personnel however rely on the support of the individuals listed under ‘Staffing’ below who support the Charity.

Public benefit statement

The objects and purposes of the Charity are such charitable purposes as are exclusively charitable according to the laws of England and Wales as the trustees may from time to time determine. TTF provides donations to support underprivileged individuals and communities. When setting its objectives and planning its donations, TTF gives due careful consideration to the Charity Commission’s general guidance on public benefit. The Trustees also ensure that the programmes TTF undertake are in line with its charitable objects and aims.

Trustees in the reporting period and at the time of report sign-off

Dr Ahmed Jamal Nasir Awan MBE DL

Mr Adam Awan

Mr Shiraz Omar Appointed 25 July 2022

Members of TTFs board are required to disclose all relevant interests and withdraw from decisions where a conflict of interest arises. The Trustees confirm that they received no remuneration or expenses and there were no transactions with entities that are closely connected to the charity and its trustees (referred to as related parties).

Staffing

In 2022, the trustees received support from, and much work was done by, the following:

Mrs Leela Jackson Mr Ikram Ahmed Mr Imran Moosa

Fundraising and source of income

TTF is under an obligation as per the requirement of Section 162A Charities Act 2011 to give information about fundraising standards. TTF does not undertake any fundraising activity or solicit donations. In light of this, it is not registered with the Fundraising Regulator and does not subscribe to any codes of practise relating to fundraising. In any event it has not failed to comply with any fundraising standards or received any complaints relating to its funds. TTF does not make any approaches to vulnerable people in respect of any fundraising matters. TTF does not use professional fundraisers or involve commercial participators. TTF is a family-based charity that does not currently hold fixed investments. During the relevant period, TTF reserves did not generate significant investment income.

Registered office and professional advisers

Registered office
Bankers
20 Brickfield Road
HSBC Bank PLC
Birmingham
PO Box 360, 100 King Street
B25 8HE
Manchester
M60 2HD
Solicitors
Auditor
The Wilkes Partnership Cowgill Holloway LLP
41 Church Street
Regency House,
Birmingham
45-53 Chorley New Road,
B3 2RT
Bolton
BL1 4QR

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DocuSign Envelope ID: 919FF143-8728-49A4-9BF5-5A307DA29B40

The Trust Foundation Trustees’ report For the year ended 31 December 2022

What we do, how we do it and how we will strengthen it

TTF’s activities are primarily that of a grant making charity that awards grants to fulfil its objectives.

TTF’s grants

TTF does not undertake direct project implementation. TTF makes grants in the form of donations primarily to other charities who carry out projects which meet TTF objectives and grant making policy.

Selection of partners and projects

TTF’s Trustees review incoming requests on a case-by-case basis, using their knowledge of the requesting organisations and TTF’s objectives and values as the bases for assessment. A detailed due diligence process follows before the selection of any partner.

Monitoring and evaluation

TTF provides grants on the condition that progress and end-of-project reports are submitted on a (generally pre-set) timely basis. In addition, TTF’s Trustees and volunteers seek further verification and conduct field visits to verify that the utilisation of funds and the impact of programmes has worked well.

The following table includes TTF’s main areas of donation during the course of 2022:

Education and sponsorship
Welfare including the provision of food, water,
clothing and healthcare
Other activities		 Grants to
institutions
£
155,700
3,449,900
100,757
3,706,357		 Total
2022
£
155,700
3,499,900
103,757
3,706,357

Long term perspective

The Trustees are committed to establishing new partnerships and expanding its programmes in the current countries of operation as well as new countries. The Trustees are looking to diversify programmes to include water projects as well as support for orphans.

Loans for educational and multifaith establishments

The Trustees of TTF recognise that there is a need for religious institutions and therefore provides financial assistance for establishing places of worship.

In the UK and abroad, the support is usually in the form of a grant or loan. At the start of 2022, a total sum of £449,000 (2021: £260,317) was outstanding from 3 different organisations in the United Kingdom. During the year, £181,000 (2021: £160,317) has been re-paid and new loans of £825,000 (2021: £349,000) were issued. At the year end the final amount outstanding from 4 different organisations in the United Kingdom, was £1,093,000 (2021: £449,000).

3

DocuSign Envelope ID: 919FF143-8728-49A4-9BF5-5A307DA29B40

The Trust Foundation Trustees’ report

For the year ended 31 December 2022

Risks, uncertainties and risk management and mitigation

The TTF trustees periodically assess the organisation’s risks. In the previous year, it was identified that TTF has a large amount of unspent donations. This report confirms that the risk management plan was successful, resulting in the substantial reduction in the amount of unspent donations. Looking ahead, the trustees have identified the following risks that will require ongoing attention:

risks that will require ongoing attention:
Risk Risk management and mitigation plan
Limited number of partners. a) establish partnerships with new charities and expand to different
countries
b) undertake visits to different countries and establish new partnerships

Financial review

For the year ended 31 December 2022, there was a deficit of £781,770 (2021 surplus of: £1,460,468). As at 31 December 2022, total income was £3,039,752 (2021: £2,680,515) and the balance carried forward, all of which are unrestricted funds as at 31 December 2022, was £5,318,244 (2021: £6,100,014).

The principal funding sources were donations from various companies, and it is intended that for the foreseeable future, subject to receipt of funds, TTF will continue its charitable activities along the lines of its current activities as detailed in this report.

There were no fundraising activities in the year.

Reserves policies

It is the policy of the charity to maximise unrestricted funds, which are the free reserves of the charity, to ensure sufficient funds are available to cover the following:

The board of trustees are satisfied that the charity's assets are available and adequate to fulfil its obligations in respect of the total funds. In 2022 total funds carried forward at the year-end were £5,318,244 (2021: £6,100,014).

Appointment of trustees

During the year, one Trustee has been appointed in accordance with the Governing Document. The trustee has been appointed based on long-standing knowledge, experience and integrity. A new trustee is appointed by a resolution of the trustees passed at a special meeting, which can be called at any time by any trustee.

Going concern

After making enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt a going concern basis in preparing the financial statements.

Further details regarding the adoption of the going concern basis can be found in note 1 “Accounting Policies” in the financial statements.

Approved by the trustees and signed on their behalf by:

Dr Ahmed Jamal Nasir Awan MBE DL Trustee of The Trust Foundation Date:

31/10/2023 | 2:01 PM GMT

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DocuSign Envelope ID: 919FF143-8728-49A4-9BF5-5A307DA29B40

The Trust Foundation

Trustees’ responsibilities statement For the year ended 31 December 2022

The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

The law applicable to charities in England and Wales 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 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:

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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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DocuSign Envelope ID: 919FF143-8728-49A4-9BF5-5A307DA29B40

The Trust Foundation

Independent auditor’s report to the trustees of The Trust Foundation

Opinion

We have audited the financial statements of The Trust Foundation (the ‘charity’) for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102; The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report, set out on pages 1 to 4 other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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DocuSign Envelope ID: 919FF143-8728-49A4-9BF5-5A307DA29B40

The Trust Foundation

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees for the financial statements

As explained more fully in the Trustees' Responsibilities Statement set out on page 5, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussions with the directors (as required by auditing standards) and discussed with the directors the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation and taxation legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation or the loss of the company's license to operate. We identified the following areas as those most likely to have such an effect: laws related to the regulation and operation of charities.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and inspection of regulatory and legal correspondence, if any. Through these procedures we did not become aware of any actual or suspected non-compliance.

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DocuSign Envelope ID: 919FF143-8728-49A4-9BF5-5A307DA29B40

The Trust Foundation

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

We design procedures in line with our responsibilities, outlined below to detect material misstatement due to fraud:

·Matters are discussed amongst the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud

·Identifying and assessing the design and effectiveness of controls that management have in place to prevent and detect fraud

·Detecting and responding to the risks of fraud following discussions with management and enquiring as to whether management have knowledge of any actual, suspected or alleged fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Section 154 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Cowgill Holloway LLP

Statutory Auditor, Chartered Accountants Regency House, 45-53 Chorley New Road, Bolton, BL1 4QR

Cowgill Holloway LLP is eligible to act as an auditor by virtue of its eligibility for appointment as an auditor of a company under section 1212 of the Companies Act 2006

Date: 31/10/2023 | 2:03 PM GMT

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DocuSign Envelope ID: 919FF143-8728-49A4-9BF5-5A307DA29B40

The Trust Foundation

Statement of financial activities incorporating an income and expenditure account

For the year ended 31 December 2022

Note
Income
Donations
3
Total income
Expenditure
Charitable activities
4
Loss on foreign exchange
Net (deficit)/income for the year
Reconciliation of funds
Total funds brought forward
Net movement in funds for the year
Total funds carried forward		 All unrestricted
and restricted
funds
2022
£
All unrestricted
and restricted
funds
2021
£
3,039,752
2,680,515
3,039,752
2,680,515
(3,821,522)
(1,217,771)
-
(2,276)
(781,770)
1,460,468
6,100,014
4,639,546
(781,770)
1,460,468
5,318,244
6,100,014

There were no other recognised gains or losses other than those listed above and the net income for the year. All income and expenditure derive from continuing activities and all funds are unrestricted in both current and prior years.

9

DocuSign Envelope ID: 919FF143-8728-49A4-9BF5-5A307DA29B40

The Trust Foundation

Balance sheet

At 31 December 2022

Note
Current assets
Debtors
8
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one year
9
Net assets
Funds
Unrestricted funds
Total funds		 2022
£
1,093,000
4,230,044
5,323,044
(4,800)
5,318,244
5,318,244
5,318,244		 2021
£
449,000
5,653,414
6,102,414
(2,400)
6,100,014
6,100,014
6,100,014

These financial statements of The Trust Foundation registered number 1180111 were approved by the Board of Trustees and authorised for issue its behalf by:

Dr Ahmed Jamal Nasir Awan, MBE DL Trustee Date :

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DocuSign Envelope ID: 919FF143-8728-49A4-9BF5-5A307DA29B40

The Trust Foundation

Cash flow statement

For the year ended 31 December 2022

Note
2022
£
Net cash flows from operating activities
11
(1,423,370)
Net increase in cash and cash equivalents
(1,423,370)
Cash and cash equivalents at beginning of year
5,653,414
Net (decrease)/increase in cash and cash equivalents
(1,423,370)
Cash and cash equivalents at the end of the year
4,230,044		 2021
£
1,272,684
1,272,684
4,380,730
1,272,684
5,653,414

Cash and cash equivalents are represented by cash at bank and in hand.

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DocuSign Envelope ID: 919FF143-8728-49A4-9BF5-5A307DA29B40

The Trust Foundation

Notes to the financial statements

For the year ended 31 December 2022

1. Accounting policies

Charitable status

The Trust Foundation is a public benefit incorporated entity which currently has three trustees. The charity is a registered charity, its registered office noted on page 2.

Basis of accounting

The financial statements are prepared under the historical cost convention, in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities (SORP 2015)” 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 2015; and the Charities Act 2011.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The principal accounting policies are set out below.

Preparation of financial statements - going concern basis

The charity’s activities, together with the factors likely to affect its future development, performance and position are set out in the Trustees’ Report, which also describes the financial position of the charity including its cash and reserves policy. The charity forecasts and projections, taking account of reasonably possible changes in donations and investment income and other uncertainties, show that the charity should be able to operate with its current level of reserves. The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Income

Income comprises donations and investment income and is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

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.

Expenditure on charitable activities relates to donations made to individuals, organisations and institutions in line with the objectives of the charity.

Support costs relate to the charity’s charitable activity of providing donations and loans to individuals, organisations and institutions.

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 statutory audit and legal fees.

Fund accounting

All funds are unrestricted.

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DocuSign Envelope ID: 919FF143-8728-49A4-9BF5-5A307DA29B40

The Trust Foundation

Notes to the financial statements (continued)

For the year ended 31 December 2022

1. Accounting policies (continued)

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature no more than three months from the date of acquisition and that are readily convertible to known amounts with insignificant risk of change in value.

Taxation

The charity is regarded as a charity by HMRC and its income is not subject to taxation on its charitable activities.

Financial instruments

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

The charity 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.

Charitable loans

Charitable loans are made to organisations with aims in line with the charity’s objectives. The loans, which are interest free, are for capital projects and repayment is expected from income generated by these projects in the future. Provision is made against charitable loans for amounts that have not been received between the balance sheet date and the date that the accounts are signed. All balances included in debtors are therefore measured at their settlement value.

Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the charity’s accounting policies which are described in note 1, the trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant; actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The trustees do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed above.

3. Income

The charity received donations of £3,039,752 (2021: £2,680,515).

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DocuSign Envelope ID: 919FF143-8728-49A4-9BF5-5A307DA29B40

The Trust Foundation

Notes to the financial statements (continued)

For the year ended 31 December 2022

4. Charitable activities

Donations were made to institutions and individuals for the following charitable activities:

Construction of education and
training establishments
Education and sponsorship
Medical provision
Welfare and economic
empowerment
Other		 Grants to
institutions
£
-
155,700
-
3,499,900
100,757
3,706,357		 Support
cost
£
-
4,838
-
107,196
3,131
115,165		 Total
2022
£
-
160,538
-
3,557,096
103,888
3,821,522		 Total
2021
£
24,556
124,650
67,392
1,001,173
-
1,217,771

All grants approved in the year were paid before the year end and there were no grant creditors carried forward at the balance sheet date.

The charity meets its objectives by making donations and loans to individuals and other charitable organisations whose aims match those of the charity. Donations have been made to various individuals, organisations and institutions worldwide.

The Charity makes grants to different partner charities in the UK and around the world after careful consideration and due diligence. Sometimes a visit is made to the countries of intended operation prior to selecting a partner. The partner charities are used as to help further the objectives of the charity and carry out specific charitable programmes under our direction. All partner charities are subject to due diligence procedures and regular monitoring and reporting.

Support costs have been allocated to expenditure on charitable activities as follows:

2022
Construction
£
Governance
-
General expenses
-
-
2021
Construction
£
Governance
48
General expenses
1,408
1,456		 Education
£
101
4,737
4,838
Education
£
246
7,143
7,389		 Medical
£
-
-
-
Medical
£
133
3,862
3,995		 Welfare
£
2,234
104,962
107,196
Welfare
£
1973
57,373
59,346		 Other
£
65
3,066
3,131
Other
£
-
-
-		 Total
£
2,400
112,765
115,165
Total
£
2,400
69,786
72,186

Support costs are allocated across the charity’s activities based on the proportion of total grant expenditure within each activity.

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DocuSign Envelope ID: 919FF143-8728-49A4-9BF5-5A307DA29B40

The Trust Foundation

Notes to the financial statements (continued)

For the year ended 31 December 2022

5. Auditor’s remuneration

Support costs include auditor’s remuneration of £2,400 (2021: £2,400). Amounts payable in respect of non-audit services were £nil.

6.

Trustees’ remuneration and expenses

No remuneration or other benefits or expenses has been paid to the charity’s trustees or people connected with them from the charity or any company connected with it in the current or prior year.

7. Employees

The charity had no employees in 2022 (2021: Nil). The charity’s administration is supported by some part time consultants and volunteers. The trustees do not consider there to be any key management personnel other than the trustees. No employees were paid in excess of £60,000.

8. Debtors

9.

Amounts falling due within one year
Loans
Loans are loans made for charitable purposes (see Trustee’s report).
Creditors

Amounts falling due within one year
Trade creditors
Accruals		 2022
£
1,093,000
2022
£
2,400
2,400
4,800		 2021
£
449,000
2021
£
-
2,400
2,400

10. Commitments and contingencies

The charity has no commitments that require provision in the financial statements. The charity has not given any guarantees. The charity did not have any contingent liabilities.

11. Net cash flows from operating activities

Net income from operating activities
(Increase) in debtors
Increase in creditors
Net cash inflow/(outflow) from operating activities		 2022
£
(781,770)
(644,000)
2,400
(1,423,370)		 2021
£
1,460,468
(188,684)
900
1,272,684

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