Connections of Hope Foundation
(Charitable Incorporated Organisation)
ANNUAL REPORT AND FINANCIAL
STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Charitable Incorporated Organisation Number: CEO 16603 Charity registration number: 1182162
Suite 6, 94 Fulham Palace Road, London, W6 9PL
CONNECTIONS OF HOPE FOUNDATION REPORT OF THE
FOR THE YEAR ENDED 31
| Trustees | Dr Saeed Al-Ghadi |
|---|---|
| (Chairman) | |
| Mr salah | |
| Taifoor | |
| Mr Abdullah Al-Bagieh | |
| Mr Abdul Hakeem | |
| Montague | |
| Charitable Incorporated | |
| Organisation Number: | CEO 16603 |
| Charity registration number: | 1182162 |
| Registered Ofice | Suit 6, 94 |
| Fulham Palace | |
| Road, London, | |
| W6 9Pl | |
| Independent accountant | HRHS Accountancy, |
| 41 Revere Way, | |
| Epsom, KT19 | |
| 9RQ | |
| Solicitor’s name and | Lee Bolton Monier- |
| address | Williams |
| 1 The Sanctuary | |
| Westminster | |
| London SW1P 3JT |
Suite 6, 94 Fulham Palace Road, London, W6 9PL
CONNECTIONS OF HOPE FOUNDATION REPORT OF THE
FOR THE YEAR ENDED 31
The Trustees are pleased to present their annual Trustees Report together with the financial statements of Connections of Hope Foundation for the year ended 31 December 2020.
The financial statements comply with the Charities Act 2011 and Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
Chairman’s Report:
The Board of trustees are pleased to present this Annual Report and financial statements for the Connections of Hope Foundation from 1[ST] January 2020 to 31[st] December 2020.
The main aims of the organisation in 2020 were to focus on growth and governance policies and procedures. This meant to expand our work to all similar organisations and provide guidance and technical support in the areas of governance, compliance and risk management.
The Connections of Hope foundation has been aiming to establish all policies and procedures related to its relationship with other entities. The plan of 2020 was also to establish a range of committees that will lead the work of the organisation with direction from Trustees. The following committees were setup in 2020;
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Development & Planning committee.
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Compliance & Risk management committee
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Fundraising Committee
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Finance Committee
The world faced one of the greatest challenges in recent times in 2020. The Covid-19 crisis has been a major factor in 2020 effecting all the work of the committees and the progress of the organisation. The Trustees met earlier in the year and decided to pursue a more technical strategy focusing on developing policies and promoting best practise amongst other similar organisation. This strategy proved to be fruitful as many organisations benefited from the regular training and awareness sessions setup by the foundation.
This laid the foundation for 2021 to be a year of even greater impact for the foundation expanding to supporting more organisation and therefore impact more beneficiaries.
I wish to express my sincere thanks to our Trustees, for their commitment and continued support to help develop the Foundation’s future priorities and shape our services across the communities that we aim to serve.
Dr. Saeed Al-Ghadi
Suite 6, 94 Fulham Palace Road, London, W6 9PL
CONNECTIONS OF HOPE FOUNDATION REPORT OF THE
FOR THE YEAR ENDED 31
1[st] October 2021
Vision and Mission Statement
The organisation will advance education and building bridges between communities by supporting organisations that aim to build awareness about Islam amongst communities.
Objectives
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The prevention or relief of poverty or financial hardship anywhere in the world by providing or assisting in the provision of education, training, healthcare projects and all necessary support designed to enable individuals to generate a sustainable income and be self-sufficient.
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To advance the Islamic religion anywhere in the world for the benefit of the public through the holding of prayer meetings, establishment of religious places, producing and/or distributing literature on Islamic religion to enlighten others about the Islamic religion.
Background
The Connections of Hope Foundation was set up as a grant making organisation to provide funding, support and guidance to other organisations that have similar charitable objectives.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Connections of Hope Foundation is a registered charitable foundation (CIO) under the Laws of England & Wales regulated by the Charity Commission. All members of the board are appointed and are committed to serving the Foundation by fulfilling their roles as Trustees in keeping with its constitution.
Currently serving trustees are:
Dr Saeed Al-Ghadi (Chairman)
Mr Salah Taifoor
Mr Abdullah Al-Bagieh
Mr Abdul Hakeem Montague
Induction of Trustees
All of our trustees are volunteers. They are chosen because they have the diverse range of skills, knowledge and experience that Connections of Hope foundation needs to respond to key challenges. Stakeholders and partners may nominate trustees, and sometimes we will make a personal approach to potential candidates.
Suite 6, 94 Fulham Palace Road, London, W6 9PL
CONNECTIONS OF HOPE FOUNDATION REPORT OF THE
FOR THE YEAR ENDED 31
To ensure that the charity benefits from a professional and dynamic board, trustees are provided with a comprehensive induction and on-going training in new or emerging areas of responsibility.
New trustees receive a full overview of the strategic and operational functions, which includes a copy of Foundation’s Constitution, Board Meeting Minutes and Charity Commission guidance “The Essential Trustee.”
Trustees play a significant role in the running of the charity and are always expected to keep up to date in the charity world this also includes keeping abreast of “Charity Commission News” and other updates as and when they appear on the commission’s website. They are also encouraged to help identify any gaps in their training needs.
Achievement and performance
All technical goals for the year were achieved by setting up all the important committees that will lead the work of the organisation. Connections of Hope Foundation also became the sole member of other organisations to support those organisations is securing good performance and full impact.
Key management personnel
Most administrative tasks were carried out by the Trustees.
The Board of Trustees meet at regular intervals to carry out reviews and take decisions and has the overall responsibility for all of Connection of Hope Foundations’ activities. In keeping with good practice the Board receives regular performance reports, annual financial reports, plans and budgets. It also approves relevant new policies and procedures.
Suite 6, 94 Fulham Palace Road, London, W6 9PL
CONNECTIONS OF HOPE FOUNDATION REPORT OF THE
FOR THE YEAR ENDED 31
LEGAL & ADMINISTRATIVE INFORMATION
Charity Name Connections of Hope Foundation Charity Number CIO Registration No: 1182162 Registered address Suite 6, 94 Fulham Palace Road, LONDON W6 9PL
Accountant’s name and HRHS Accountancy address 41 Revere Way Epsom, KT19 9RQ
Solicitor’s name and Lee Bolton Monier-Williams address 1 The Sanctuary Westminster London SW1P 3JT Banker’s name and Barclays Bank address Hammersmith Branch 1 Churchill Place, London E14 5HP
Risk Management
The Trustees have a duty to identify and review the risks to which the charity is exposed to and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees actively review the major risks to which Connections of Hope is exposed to on a regular basis, in particular those related to its operations and finances.
Suite 6, 94 Fulham Palace Road, London, W6 9PL
CONNECTIONS OF HOPE FOUNDATION REPORT OF THE
FOR THE YEAR ENDED 31
COVID 19 impact and Going concern:
COVID 19 was the single most impactful factor effecting the organisation in 2020. Trustees were quick change strategy for the year pursuing a more technical and policy promotion strategy instead of financial growth. This was fruitful and ensured the organisation would operate on a lean financial model with minimal costs..
There were no costs and operations during 2020, the Trustees have concluded that the charity operation will still carry on to 2021 and the entity is still a going concern for the short and long term future.
Public Benefit
The Trustees confirm that they have referred to the Charity Commissions' general guidance on Public Benefit when reviewing and shaping the charity's aims and objectives.
It is estimated that there are around three million Muslims living in the United Kingdom, many of whom have been born and raised in the U.K. Connections of Hope foundation aims to provide public benefit by supporting and making grants to organisations that serve communities in the UK and overseas.
Reserve Policy
As no financial operations were carried out during 2020, no reserves have been created so far, the trustees are working on formulate a reserves policy in the near future. It is anticipated that reserves for 3 months operating costs will be maintained at all times.
Financial Review
No income has been collected during the financial year 2020 and no expenses incurred either.
Growth & Expansion in 2021:
The Trustees have been pursuing funders and donors in 2020. This has yielded more support for the cause of the organisation and funding for the work of the organisation. It is aimed that in 2021, the foundation will pursue to expand its role in promoting operations excellence and full impact amongst beneficiaries.
Plans for future period (2021):
Anticipated funding is expected to allow the foundation to contract professionals in all fields of organisational excellence and will be a springboard for the organisation to full impact its like minded sister organisations.
Bank account and financial transactions:
The bank account was opened on 25 September 2019. No financial transactions took place in 2020. The Trustees plan to attract funding for the work of the Foundation in 2021 and serve its ultimate1 aim to fund and develop organisations in the UK.
Statement of Trustees Responsibilities
Law applicable to charities in England and Wales requires Trustees to prepare financial statements for each financial year, which give a true and fair view of the Trust’s financial
Suite 6, 94 Fulham Palace Road, London, W6 9PL
CONNECTIONS OF HOPE FOUNDATION REPORT OF THE
FOR THE YEAR ENDED 31
activities during the period and of its financial position at the end of the period. In preparing financial statements that give a true and fair view, the Trustees should follow best practice and
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Select suitable accounting policies and apply them consistently
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent
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state whether applicable Accounting Standards and Statements of Recommended Practice have been followed, subject to any departures disclosed and explained in the financial statements, and
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prepare the financial statements on the going concern basis unless it is inappropriate to assume that the Charitywill be able to continue in operation.
The Trustees are responsible for safeguarding the assets of the Charity, and hence for taking reasonable steps for the prevention and detection of error, fraud and other irregularities. They are also responsible for keeping accounting records which disclose, with reasonable accuracy, the financial position of the Charityat any time, and which enable them to ascertain the financial position of the Charity and ensure that the financial statements comply with the Charities Act 2011.
Signed on behalf of the Board of Trustees on 1[st] October 2021.
Dr Saeed Al Ghadi Chairman
Suite 6, 94 Fulham Palace Road, London, W6 9PL
CONNECTIONS OF HOPE FOUNDATION REPORT OF THE
FOR THE YEAR ENDED 31
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|---|---|---|---|---|---|---|---|---|---|
| Unrestrict ed funds Restrict ed funds Endowme nt funds Total funds Last year |
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| to the nearest £ to the nearest £ to the nearest £ to the nearest £ to the nearest £ |
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| Income and endowments from: |
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| Donations and legacies | - | - | - | - | - | ||||
| Charitable activities | - | - | - | - | - | ||||
| Other trading activities | - | - | - | - | - | ||||
| Investments | - | - | - | - | - | ||||
| Separate material item of income |
- | - | - | - | - | ||||
| Other | - | - | - | - | - | ||||
| Total Income | - | - | - | - | - | ||||
| Expenditure on: | |||||||||
| Raising funds | - | - | - | - | - | ||||
| Charitable activities | - | - | - | - | - | ||||
| Separate material expense item | - | - | - | - | - | ||||
| Other | - | - | - | - | - | ||||
| Total Expenditures | - | - | - | - | - | ||||
| Net Movement of Funds |
- | - | - | - | - | - | |||
| Reconciliation of Funds | |||||||||
| Total funds brought forward |
- | - | - | - | - | ||||
| Total funds carried forward |
- | - | - | - | - |
Suite 6, 94 Fulham Palace Road, London, W6 9PL 9
CONNECTIONS OF HOPE
Balance Sheet
FOR THE YEAR ENDED 31
Section B Balance sheet
----- Start of picture text -----
Restricte
Unrestrict d income Endowme Total Total last
ed funds funds nt funds this year year
£ £ £ £ £
Fixed assets
Tangible asse - - - - -
Investments - - - - -
Total fixed assets - - - - -
Current assets
Debtors - - - - -
Cash at bank and in hand - - - - -
Total current assets - - - - -
Creditors: amounts falling
due within one year - - - - -
Net current assets/
(liabilities) - - - - -
Total assets less current
liabilities - - - - -
Creditors: amounts falling
due after one year - - - - -
Total net assets or liabilities - - - - -
Funds of the Charity
Endowment funds - - -
Restricted income funds The financial statements were approved and authorised for issue by the Board of - - -
Trustees on 1 [st] October 2021 and were signed below on its behalf by:
Unrestricted funds - - -
Dr. Saeed Al-Ghadi
Total funds - - - - -
1 [st] October 2021
The accompanying notes form part of these financial statements.
----- End of picture text -----
Suite 6, 94 Fulham Palace Road, London, W6 9PL
CONNECTIONS OF HOPE FOUNDATION NOTES TO THE FINANCIAL FOR THE YEAR ENDED 31
1. ACCOUNTING POLICIES
Basis of Preparation
T he financial statements have been prepared in accordance with 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) – (Charities SORP 2015 (Second Edition, effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Connections of Hope Foundation meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going Concern
the Trustees consider that despite the impact of COVID 19 the Trustees consider the charity has adequate reasons to continue in operational existence for the foreseeable future, including the next 12 months from the date of signing these financial statements.
Income
All income is recognised once the charity has entitlement to income, it is probable that income will be received and the amount of income receivable can be measured reliably.
Donations
Donations income is accounted where there is entitlement, probability and is measurable.
Expenditure
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.
Value added tax
The Charity is exempt from VAT.
Tangible Fixed Assets
Tangible fixed assets are stated at cost, less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful life as follows:
Buildings 50-year straight line Fixtures and Fittings 4-year straight line Plant and Equipment 10-year straight line
Suite 6, 94 Fulham Palace Road, London, W6 9PL
CONNECTION OF HOPE NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31
1. ACCOUNTING POLICIES (continued)
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
2. Staff Costs
The average number of employees for the year were – None
The trustees are deemed to be the key management personnel and are not remunerated for their services to the charity.
3.STATUS
The entity is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission in England and Wales on 21[st] February 2019.
4. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS
There are no related party transactions to report.
5. POST BALANCE SHEET EVENTS
The global pandemic of COVID-19 continues to have an impact on the economy and, whilst this a non-adjusting post balance sheet events for the Charity, the Charity is in a financially secure position.
Suite 6, 94 Fulham Palace Road, London, W6 9PL 12