ITTEFAQ FOUNDATION
REGISTERED NUMBER – CE015463 REGISTERED CHARITY NUMBER – 1180444 ENGLAND AND WALES
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED
15 October 2021
ITTEFAQ FOUNDATION
CHARITY INFORMATION FOR THE YEAR ENDED 15 OCTOBER 2021
Trustees
Mohammad Chowdhory Zoheb Qudoos Mobeen Pasha Waqqas Ali
Charity number 1180444
Registered Office
20 Thornton Road Cheadle Cheshire SK8 3DR
Accountants
MSK Accountancy Limited 14 Poplar Road Manchester M19 1QH
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ITTEFAQ FOUNDATION
TRUSTEES’ REPORT
FOR THE YEAR ENDED 15 OCTOBER 2021
Structure, governance and management
Ittefaq Foundation (the “Charity”) is a charitable incorporated organisation and received charitable status in October 2018.
Organisational structure
The Trustees are responsible for the general management of the Charity and ensuring that all legal requirements are met. The Trustees receive no remuneration or other financial benefits from their role as trustee. The management structure consists volunteers who are supported to efficiently carry out their duties to meet the charitable objectives. The Trustees meet on a monthly basis, physically and/or online, and are responsible for all decisions taken in relation to running the Charity. The Trustees are responsible for formulating the strategies and policies of the Charity in line with guidelines set by the Charity Commission.
Objectives
Our vision is to reduce hunger and provide monthly food support to the most needy. In planning our activities, we have considered guidance from the Charity Commission to ensure we meet our public benefit requirements. Our objectives, activities and developments are reviewed annually.
Our Strategy
To achieve our objectives we ensure we source the most needy people and provide monthly food supplies to poor households.
Financial review
The financial position of charity as at 15 October 2021 was showing: -
| Unrestricted funds Restricted funds Total funds |
£ 362 - 362 |
|---|---|
The principle funding of the charity is from trustee and private donations.
Reserve policy
It is the trustees’ intention to generate a balance of unrestricted reserves, which will allow for the operation of the charity.
Investment policy
The trustees have considered the most appropriate policy for investing funds and have found that a building society or bank deposit account meets their requirements should funds be available to invest.
Statement of trustees’ responsibilities
Under company law the trustees have the same legal responsibilities as company directors and the title is interchangeable.
Company law requires the trustees to prepare accounts for each financial year, which give a true and fair view of the state of the affairs of the company and the profit and loss of the company for that year. In preparing those
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ITTEFAQ FOUNDATION
TRUSTEES’ REPORT (CONTINUED)
FOR THE YEAR ENDED 15 OCTOBER 2021
accounts the trustees are required to select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; follow applicable accounting standards, subject to
any material departures disclosed and explained in the accounts; and prepare the accounts on a going concern basis unless it is inappropriate to presume that the company will continue in business.
The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the accounts comply with the Companies act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with special provisions of section 477 of Companies Act 2006 relating to small companies.
Approved by the Board of Trustees and Signed on behalf of the Board of Trustees by
………………………….
Mohammad Chowdhory
Date: 8 August 2022
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ITTEFAQ FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 15 OCTOBER 2021
| INCOMING RESOURCES Income resources from voluntary income Donations Total Incoming resources RESOURCES EXPENDED Charitable activities costs Providing meals Other Total charitable expenditure Net incoming/(outgoing) resources Total funds brought forward Total funds carried forward |
Restricted Unrestricted Total 2021 £ £ £ - 6,774 6,774 - 6,774 6,774 - 6,154 6,154 - 309 309 - 6,463 6,463 - 311 311 - 51 51 - 362 362 |
Restricted Unrestricted Total 2020 £ £ £ - 5,555 5,555 |
|---|---|---|
| - 5,555 5,555 |
||
| - 6,400 6,400 -69 69 |
||
| - 6,469 6,469 |
||
| -(914) (914) - 965 965 - 51 51 |
There were no recognised gains or losses for 2021 other than included in the Statement of Financial Activities.
All incoming resources and resources expanded derive from continuing activities.
The notes on pages 6 form part of these accounts.
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ITTEFAQ FOUNDATION
BALANCE SHEET
FOR THE YEAR ENDED 15 OCTOBER 2021
| Current Assets Cash at bank and in hand Creditors Amounts falling due within one year Net current assets Creditors Amounts falling due after more than one year Net assets Funded By Restricted funds Unrestricted funds |
2021 2020 £ £ 362 51 - - |
|---|---|
| 362 51 - - |
|
| 362 51 |
|
| - - 362 51 362 51 |
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 15 October 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 15 October 2021 in accordance with Section 476 of the Companies Act 2006.
The Trustees’ acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to small companies’ regime.
Signed on behalf of the Board of Trustees.
……………………….
Mohammad Chowdhory Date: 8 August 2022
Trustee
The notes on pages 6 form part of these financial statements.
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ITTEFAQ FOUNDATION
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 15 OCTOBER 2021
1 Accounting policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and follow the recommendations in Accounting and Reporting by Charities: Statements of Recommended Practice (SORP) issued in March 2005.
The accounts have been prepared on a going concern basis following the trustee’s assurance that they will continue to support the charity and anticipate that additional income will be received in the next twelve months to support the project.
Cash flow
The accounts do not include a cash flow statement because the company, is a small reporting entity, is exempt from the requirement to prepare such a statement under Financial Reporting Standard 1 ‘Cash flow statements’.
Income
The accounts include income on the following basis: -
Voluntary income is received by the way of donations and gifts and is included in full in the statements of Financial Activities when receivable. The value of services provided by volunteers has not been included.
Expenditure
Resources expended are recognised in the period in which they incurred. Resources expended include attributable VAT, which cannot be recovered.
Taxation
The company is a registered charity and as such is entitled to the exemption from tax to the extent that the income received falls within section 505 ICTA 1988 and section 256 CGTA 1992 and is applied to charitable purposes only.
Fund accounting
Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure, which meets these criteria, is charged to the fund, together with a fair allocation of management and support costs.
2 Contingent liabilities
There are no contingent liabilities of a material amount for which provision has not been made in the accounts.
3 Trustee remuneration
Over the period, no Trustees received remuneration for their role as trustee and no other trustees received any remuneration in their role.
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ITTEFAQ FOUNDATION
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 15 OCTOBER 2021
| Income Donations – unrestricted Expenditure Provision of food supplies Bank charges Accountancy fees Total expenditure Net profit |
2021 2020 £ £ 6,774 5,555 6,154 6,400 69 69 240 - |
|---|---|
| (6,463) (6,469) 311 (914) |
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