Virtualsigrhalure Transaction Rel. T8GtsGP93.JBgB 02 Sgp Z024 22".25."25 BST IUTC *11 D 111 P 118 Foundation for the Advancement of Education & Community Development Registered Charity No 1180602 Receipts and Payments Account For the year ended 31 March 2024 Virtualsigrhalure Transaction Rel. T8GtsGP93.JBgB 02 Sgp Z024 22".25."25 BST IUTC *11 D 111 P 218 Foundation for the Advoncement of Education & Community Development Index Page Legal and Administrative Details Trustees Annual Report Accountants, Report Receipts and Payments Account Statement of Assets and Liabilities Virtualsigrhalure Transaction Rel. T8GtsGP93.JBgB 02 Sgp Z024 22".25."25 BST IUTC *11 D 111 P 318 Foundation for the Advancement of Educatlon & Community Development Legal and Administrative Details Incorporation The Foundation for the Advancement of Education & Community Development was registered with the Charity Commission as a Charitable Incorporated Organisation on 7 November 2018. Working Name FAECD Reglstered Charlty Number 1180602 Trustees Kian Golestani Patrick O'mara Farnaz Trick Francis Farhang Sajed Robert Weinberg Prlncipal Offlce 63 Montpelier Walk London SW7 IJH Accountants James Cowper Kreston 2 Communications Road Greenham Business Park Greenham Newbury RG19 6AB Bankers Natwest Knightsbridge Branch PO Box 6037 186 Brompton Road London SW3 IHL Virtualsigrhalure Transaction Rel. T8GtsGP93.JBgB 02 Sgp Z024 22".25."25 BST IUTC *11 D 111 P 418 Foundation for the Advancement of Education & Community Development Trustees Annual Report For the year ended 31 March 2024 The Trustees present their report along with the financial statements of the charity for the year ended 31 March 2024. Structure, Governance and Management The constitution of the charity is set out on page l. The Trustees who have served during the year and since the year end are set out on page l. There must be at least three trustees and there is no maximum number of trustees. Any person who is willing to act as a trustee may be appointed by decision of the charity trustees. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a charity IPB21'. Objects of the Charity The objects of the CIO are for the public benefit to further any purpose which is exclusively charitable under the law of England and Wales. The main purposes include - - The advancement of education The development of the capacity & skills of people in economically disadvantaged areas to better able them identify & help meet their needs & participate more fully in societv Grants may be made to individual charitable beneficiaries, UK registered charities & other organisations lin the UK & abroad) that carry out activities that are charitable under English law. Review of the Year The charity received no donations in the year and has not yet commenced its charitable giving. The financial statements reflect the current financial status of the charity. Income from donations was £nil12023= £nill, there was an exchange loss of £2,95812023.. £5,603 gain) and the expenditure in the period amounted to £61112023.. £3,343) giving a deficit of income over expenditure. At the end of the period there were total funds of £72,90912023.. £76,478). Virtualsigrhalure Transaction Rel. T8GtsGP93.JBgB 02 Sgp Z024 22".25."25 BST IUTC *11 D 111 P 518 Foundation for the Advancement of Education & Community Development Trustees Annual Report For the year ended 31 March 2024 Statement of Trustees Responsibilities The Trustees are responsible for preparing the Trustee's report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). The law 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 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 consistentlyi observe the methods and principles in the Charities SORP,. make judgments and accountinE estimates that are reasonable and prudent- prepare the financial statements on the going concern basis unless it Is inappropriate to presume that the charity will continLJe in operation. The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and 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 IAccounts 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. Approved by the Trustees and signed on their behalf by.. P&wo?￿rA￿SEYI0l4lE2SWWIur¢+l1 Patrick O'mara Date- 02 September 2024 Virtualsigrhalure Transaction Rel. T8GtsGP93.JBgB 02 Sgp Z024 22".25."25 BST IUTC *11 D 111 P 618 Foundation for the Advancement of Education & Community Development Accountants. Report to the Trustees On the unaudited Accounts For the year ended 31 March 2024 In accordance with our engagement letter we have prepared for your approval the financial information of the Foundation for the Advancement of Education & Community Development for the year ended 31 March 2024 as set out on pages 5 to 6 from the accounting records and information and explanations you have given to us. As a member firm of the Institute of Chartered Accountants in England and Wales IICAEWI we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membershiplregulations-standards-and-Euidance. Our report is made solely to the trustees of the Foundation for the Advancement of Education & Community Development. Our work has been undertaken solely to prepare for your approval the financial information of Foundation for the Advancement of Education & Community Development and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release TECH08116AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the trustees, for our review, for our report, or for the opinion we have formed. You have approved the financial information for the year ended 31 March 2024 and have acknowledged your responsibility for it, for the appropriateness of the financial reporting framework adopted and for providing all information and explanation5 necessary for its compilation. We have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial information. Ctwpoj fv6kn James Cowper Kreston Chartered Accountants 2 Communications Road Greenham Business Park Greenham Newbury RG19 6AB Date.. 3 September 2024 Virtualsigrhalure Transaction Rel. T8GtsGP93.JBgB 02 Sgp Z024 22".25."25 BST IUTC *11 D 111 P 718 Foundatlon for the Advancement of Education & Communlty Development Receipts and Payments Account for the year to 31 March 2024 Unrestricted Funds Year end Unrestricted Funds Year end 31-Mar-24 31-Mar-23 Recelpts Donations Exchange gain Total receipts 5,603 5,603 Payments Accountancy Bank charges Internet services Exchange loss Total Payment5 600 li 2,100 22 1,221 2,958 3,569 3,343 ExcessllDeficitl of recelpts over payments 13,5691 2,260 Cash and bank balances at l April 2023 76,478 74,218 Cash and bank balances at 31 March 2024 72,909 76,478 Virtualsigrhalure Transaction Rel. T8GtsGP93.JBgB 02 Sgp Z024 22".25."25 BST IUTC *11 D 111 P 818 Foundation for the Advancement of Education & Communlty Development Statement of A55ets and Liabilitie5 as at 31 March 2024 2024 2023 Assets Monetary Assets Cash at bank 72,909 76,478 Liabilitie5 Accountancy fees 16241 16001 Total assets 72,285 75,878 Approved by the Trustees and signed on their behalf by- Patrick O'mara Date.. 02 September 2024 Foreign currency balances are converted to sterling at the exchange rate on the Balance Sheet date and unrealised profits or losses are treated as a receipt or payment in the Receipts and Payments account.