Connections of Hope Foundation
(Charitable Incorporated Organisation)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
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 BOARD
FOR THE YEAR ENDED 31 DECEMBER 2022
Trustees Dr Saeed Al-Ghadie (Chairman) Mr Salah Taifoor Mr Abdullah Al-Bagieh Mr Abdul Hakeem Montague Charitable Incorporated Organisation Number: CEO 16603 Charity registration number: 1182162 Registered Office Suite 6, 94 Fulham Palace Road, London, W6 9PL Independent Examiner HRHS Accountancy, 41 Revere Way, Epsom, KT19 9RQ Solicitor’s name and address Lee Bolton Monier-Williams 1 The Sanctuary Westminster London SW1P 3JT
Suite 6, 94 Fulham Palace Road, London, W6 9PL
CONNECTIONS OF HOPE FOUNDATION
REPORT OF THE BOARD
FOR THE YEAR ENDED 31 DECEMBER 2022
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 2022.
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 2022 to 31[st] December 2022.
The main aims of the organisation in 2022 were to continue focus on growth and governance policies and procedures. This meant to expand our work to all similar organisations and provide current guidance and technical support in the areas of governance, compliance and risk management.
The Connections of Hope Foundation has continued to establish all policies and procedures related to its relationship with other entities through multiple meetings and workshops.
All Trustees met during the course of the year and decided to review its technical strategy focusing on developing policies and promoting best practise amongst other similar organisation. The implementation of this strategy has led to positive outcomes as many organisations have benefited from the regular training and awareness sessions setup by the Foundation.
The global financial crisis and the post corona crisis have been a challenging period for the charity as budgets are restricted and financial challenges facing the wider world are even greater.
We expect the Foundation in 2023 to be a year of even greater impact for expanding to supporting more organisations and ultimately impacting 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
1[st] October 2023
Suite 6, 94 Fulham Palace Road, London, W6 9PL
CONNECTIONS OF HOPE FOUNDATION
REPORT OF THE BOARD
FOR THE YEAR ENDED 31 DECEMBER 2022
Vision and Mission Statement
The organisation aims to 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. However, the organisation is currently restricting its activities to offering training and consults to its sister entities due to numerous constraints.
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.
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.
Suite 6, 94 Fulham Palace Road, London, W6 9PL
CONNECTIONS OF HOPE FOUNDATION
REPORT OF THE BOARD
FOR THE YEAR ENDED 31 DECEMBER 2022
Achievement and performance
Most technical goals for the year were achieved by the establishment of committees that will lead the specific area of work of the organisation. Connections of Hope Foundation also continued to play a role 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 contractors and professionals in their respective fields of Risk, Strategy, Compliance and Fundraising.
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.
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 address HRHS Accountancy 41 Revere Way Epsom, KT19 9RQ Solicitor’s name and address Lee Bolton Monier-Williams 1 The Sanctuary Westminster London SW1P 3JT Banker’s name and address Barclays Bank Hammersmith Branch 1 Churchill Place, London E14 5HP
Suite 6, 94 Fulham Palace Road, London, W6 9PL
CONNECTIONS OF HOPE FOUNDATION
REPORT OF THE BOARD
FOR THE YEAR ENDED 31 DECEMBER 2022
Principal risks and uncertainties
The Board of Trustees of Connection of Hope Foundation is committed to maintaining a strong risk management framework to ensure the organisation is able to manage risk appropriately. This will be through maximising potential opportunities whilst minimising the adverse effects of risk by having appropriate customised systems and controls in place for reporting and action.
Risk Management Process
The general risk management process will include the following steps:
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An annual review of the previous year's risk management report.
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A risk identification exercise for the year ahead consisting of an evaluation of identified risks.
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Recording and monitoring of risks using a risk register.
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Assigning management and responsibility for risks to appropriate persons.
Risk management forms part of Connection of Hope Foundation's system of internal controls and is supported by its policies and procedures of the organisation, covering but not limited to:
o IT and Data Protection
o HR
o Health & Safety
-
Finance Manual
-
Governance
o Programmes o Fundraising
The risk of falling short of these standards is mitigated as far as possible by ensuring that appropriate policies and working practices are adopted in each area, department and that staff are adequately experienced and trained to manage this.
.
Going Concern:
With the onslaught of the cost-of-living crisis which has hit Europe and in particular the United Kingdom continues to have an impact throughout this year with few signs that it will curtail on the country’s economy. This naturally is felt by organisations like ourselves to rationalise with a tight squeeze on expenditure. The Trustees have concluded that the charity operation will still carry on to 2023 and that 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.
Reserve Policy
Trustees have agreed on a reserve policy were at least 6 months’ worth of operational expenses will be available at the end of each financial year where possible .
Suite 6, 94 Fulham Palace Road, London, W6 9PL
CONNECTIONS OF HOPE FOUNDATION
REPORT OF THE BOARD
FOR THE YEAR ENDED 31 DECEMBER 2022
Financial review
Income and expenditure overview
The financial statements have been prepared in accordance with the accounting policies set out on the financial statements part of the report and comply with applicable laws and requirements of the ‘Accounting and Reporting by Charities: Statement of Recommended Practice’ (Charities SORP (FRS102)) issued by the Charity Commission.
Total income is up by 390% (2022 - £128,600) compared to (2021 - £26,212), the increase primarily due to support from major donors and well-wishers of Connection of Hope.
Total expenses are up by 593% (2022- £136,208) compared to (2021) £19,654.
There were no reserves at the year end, the charity has a deficit carries forward £1,050.
Growth & Expansion in 2022:
The charity has not achieved the growth rate according to previous plans, we are aiming for more steady growth in funding growth next year.
Plans for future period (2023):
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 of its like minded sister organisations.
Suite 6, 94 Fulham Palace Road, London, W6 9PL
CONNECTIONS OF HOPE FOUNDATION
REPORT OF THE BOARD
FOR THE YEAR ENDED 31 DECEMBER 2022
Statement of directors/Trustees’ responsibilities
Connection of Hope Foundation’s trustees are responsible for preparing the Annual Report and Financial Statements in accordance with applicable law of the United Kingdom’s Accounting Standards.
Companies/Charity Law requires the Trustees to prepare yearly financial statements, giving a true and accurate state of affairs of the charity and the incoming resources and application of resources. This includes income and expenditure for the period.
The Trustees have the responsibility of keeping adequate accounting records that disclose reasonable accuracy at any time of the financial position of the charity, to enable them to ensure that the financial statements comply with the Companies Act 2006 and Charities Act 2011. Trustees are also responsible to safeguard the assets of the charity and reasonable steps must be taken for the prevention and detection of fraud and other irregularities.
In order to prepare these financial statements, trustees are required to do the following:
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Observe methods and principles in the Charities SORP 2015 (FRS 102).
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State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.
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Select suitable accounting policies and apply them consistently.
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Prepare financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
So far the Trustees are aware that:
There is no relevant audit information of which the charity’s auditor is unaware; and
As the Trustees of the charity, all steps have been taken to make themselves aware of relevant audit information and to establish that the charity’s auditors are also aware of this information.
Independent Examiner
An independent examination was carried out by HRHS Accountancy, Certified accountants.
The trustees’ report has been prepared in accordance with the provision applicable to the company subject to the small companies’ regime, and on the same basis a strategic report has not been presented.
Signed on behalf of the Board of Trustees on 1[st] October 2023.
Dr Saeed Al Ghadi
Chairman
Suite 6, 94 Fulham Palace Road, London, W6 9PL
CONNECTIONS OF HOPE FOUNDATION
REPORT OF THE BOARD
FOR THE YEAR ENDED 31 DECEMBER 2022
Independent Examiner's Report to the Trustees of Connection Of Hope Foundation
I report on the accounts which are set out below
Respective responsibilities of the Trustees’
The trustees are responsible for the preparation of the accounts. The Trustees consider that an audit is not required for this period under section144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:
Examine the accounts under section 145 of the 2011 Act; follow the procedures laid down in the general directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act); and state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view”, and the report is limited to those matters set out in the statement below.
Independent examiner's statement
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In connection with my examination, no matter has come to my attention:
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which gives me reasonable cause to believe that, in any material respect, the requirements:
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a. to keep accounting records in accordance with section 130 of the Charities Act; and
b. to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Hashem Soliman Dated: 1[st] October 2023
HRHS Accountancy Hashem Soliman Member of Association of Accounting Technicians 41 Revere Way London KT19 9RQ
Suite 6, 94 Fulham Palace Road, London, W6 9PL
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CONNECTIONS OF HOPE FOUNDATION
REPORT OF THE BOARD
FOR THE YEAR ENDED 31 DECEMBER 2022
| Statement of financial activities (including summary income and expenditure account) | Statement of financial activities (including summary income and expenditure account) | Statement of financial activities (including summary income and expenditure account) | Statement of financial activities (including summary income and expenditure account) | Statement of financial activities (including summary income and expenditure account) | Statement of financial activities (including summary income and expenditure account) | Statement of financial activities (including summary income and expenditure account) | Statement of financial activities (including summary income and expenditure account) | ||
|---|---|---|---|---|---|---|---|---|---|
| Income and endowments from: |
Unrestricted funds to the nearest £ |
Restricted funds to the nearest £ - - |
Endowment funds to the nearest £ - - |
Total funds to the nearest £ |
Last year to the nearest £ |
||||
| Donations and legacies | 128,600 | 128,600 | 26,212 | ||||||
| Total Income Expenditure on: |
128,600 | 128,600 | 26,212 | ||||||
| Charitable activities | 136,208 | - | - | 136,208 | 19,654 | ||||
| Total Expenditures Net Movement of Funds Reconciliation of Funds Total funds brought forward Total funds carried forward |
136,208 | - | - | 136,208 | 19,654 | ||||
| (7,608) | (7,608) | 6,558 | |||||||
| 6,558 | - | 6,558 | - | ||||||
(1,050) |
- | (1,050) | 6,558 |
Suite 6, 94 Fulham Palace Road, London, W6 9PL
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CONNECTIONS OF HOPE FOUNDATION
Balance Sheet
FOR THE YEAR ENDED 31 DECEMBER 2022
| Balance sheet | |||||
| Fixed assets Tangible asse 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 Unrestricted funds Total funds |
Unrestricted funds £ |
Restricted income funds £ |
Endowment funds £ |
Total this year £ |
Total last year £ |
| - | - | - | - | - |
|
| - | - | - | - | - |
|
| 3,000 | - | - |
3,000 |
3,163 | |
| 10,361 | - |
- |
10,361 |
3,396 | |
| 13,361 | - | - |
**13,361 ** |
6,558 | |
| (14,411) | - | - | (14,411) | - | |
| (1,050) | - | - |
(1,050) |
6,558 | |
| (1,050) | - | - |
(1,050) |
6,558 | |
| - | - | - | - | - |
|
| (1,050) | - | - |
(1,050) |
6,558 | |
| - | - | - |
|||
| - | - | - | |||
| (1,050) | (1,050) | 6,558 | |||
| (1,050) | - | (1,050) |
6,558 |
The financial statements were approved and authorised for issue by the Board of Trustees on 1[st] October 2023 and were signed below on its behalf by:
Dr. Saeed Al-Ghadi
1[st] October 2023
The accompanying notes form part of these financial statements.
Suite 6, 94 Fulham Palace Road, London, W6 9PL
CONNECTIONS OF HOPE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Notes to the Accounts
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 are not aware of any material uncertainties which suggest the charity cannot continue as a going concern. The accounting policies have been consistently applied for all material items.
a) Incoming resources
Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when West London Islamic Cultural Centre is entitled to the funds, receipt is probable, and the amount can be measured.
All income is accounted for when the Charity has entitlement to the funds, the amount can be quantified, and receipt of the funds is probable. Where income is received in advance of providing goods and/or services, it is deferred until the charity becomes entitled to that income.
b) Resources expended
Resources expended are recognised on an accrual’s basis.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
Support costs are those costs incurred indirectly in support of expenditure on the programmes of the Charity. Allocation of support costs and staff costs have been proportionated to the total of programme costs and corresponding thematic programme area.
Governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements. They include legal advice for trustees, cost of trustees' meetings, audit fee and internal audit costs. These costs are allocated in the same way as other support costs.
Suite 6, 94 Fulham Palace Road, London, W6 9PL
CONNECTION OF HOPE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
Notes to the Accounts Cont.
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.
Fund accounting
General funds are unrestricted funds which include buildings and equipment necessary for the proper functioning of the Charity and other funds available for use at the discretion of the Trustees in furtherance of the Charity's objectives. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. Restricted funds are funds which are subject to specific restrictions as imposed by the donor or nature of the appeal.
Taxation
As a registered charity, West London Islamic Cultural Centre is exempt from taxation of income and gains to the extent that its income and gains are applicable to charitable purposes only.
Key judgements and estimation uncertainty
The preparation of the financial statements requires the Trustees to make estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the disclosure of contingent liabilities at the date of the financial statements. If in the future such estimates and assumptions, which are based on the Trustees' best judgment at the date of the financial statements, deviate from the actual circumstances, the original estimates and assumptions will be modified as appropriate in the year in which the circumstances change. The Trustees' do not believe that there are any significant areas of estimation uncertainty that need to be disclosed.
| Note 3 | ||||
|---|---|---|---|---|
| Donations and Legacies | Total | Total | ||
| Unrestricted | Restricted | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Donations received in the UK | 128,600 | - | 128,600 | 26,212 |
| Gift Aid | - | - | - | |
| - | ||||
| 128,600 | - | 128,600 | 26,212 | |
| Note 4 | 2022 | 2021 | ||
| Expenditures | £ | £ | ||
| Governance Costs | 5,267 | 3,650 | ||
| Support Costs | 20,207 | - | ||
| Charitable activities | 110,735 | 16,004 | ||
| 136,208 | 19,654 |
Suite 6, 94 Fulham Palace Road, London, W6 9PL
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CONNECTION OF HOPE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Governance Costs | £ | £ | |||||
| Audit Fees | 750 | 400 | |||||
| Trustees meeting expenses | 2,500 | - | |||||
| Legal fees | 2,017 | 3,250 | |||||
| 5,267 | 3,650 | ||||||
| Note 5 Cash at bank and | in hand | ||||||
| 2022 | 2021 | ||||||
| £ | £ | ||||||
| Cash at bank | 10,361 | 3,396 | |||||
| Total | 10,361 | 3,396 | |||||
| Note 6 Debtors and Prepayments | |||||||
| 2022 | 2021 | ||||||
| £ | £ | ||||||
| Prepayments and accrued income | - | 3,163 | |||||
| Other debtors | 3,000 | - | |||||
| Total | 3,000 | 3,163 |
Note 7 Charity funds
Details of material funds held and movements during the CURRENT reporting period
* Key: PE - permanent endowment funds; EE - expendable endowment funds;
R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds
| Fund names | Type PE, EE R or **UR *** |
Purpose and Restrictions |
Fund balances brought forward £ |
Income £ |
Expenditure £ |
Fund balances carried forward £ |
|---|---|---|---|---|---|---|
| Unrestricted Funds | U | N/A | 6,558 | 128,600 |
136,208 | (1,050) |
| Total Funds | ||||||
| 6,558 | 128,600 |
136,208 | (1,050) |
Details of material funds held and movements during the PREVIOUS reporting period
Suite 6, 94 Fulham Palace Road, London, W6 9PL
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CONNECTION OF HOPE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
| Fund names | Type PE, EE R or **UR *** |
Purpose and Restrictions |
Fund balances brought forward £ |
Income £ |
Expenditure £ |
Fund balances carried forward £ |
|---|---|---|---|---|---|---|
| Unrestricted Funds | U | N/A | - | 26,212 | 19,654 | 6,558 |
| Total Funds | ||||||
| - | 26,212 |
19,654 | 6,558 |
Note 8
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.
Note 9
STATUS
The entity is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission in England and Wales on 21[st] February 2019.
Note 10
RELATED PARTY RELATIONSHIPS AND TRANSACTIONS
There are no related party transactions to report.
Note 11
POST BALANCE SHEET EVENTS
No post balance sheet events
Suite 6, 94 Fulham Palace Road, London, W6 9PL
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