CONNECTION OF HOPE FOUNDATION
FOR THE YEAR ENDED 31 DECEMBER 2023
Connections of Hope Foundation
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
CIO Number: CEO 16603 Charity registration number: 1182162
Suite 12, 94 Fulham Palace Road, W6 9PL
CONNECTION OF HOPE FOUNDATION
FOR THE YEAR ENDED 31 DECEMBER 2023
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 2023.
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 2023 to 31[st] December 2023.
The main aims of the organisation in 2023 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 continued to develop all policies and procedures related to its relationship with other entities. The previously formed committees continued fully operating in 2023 to help lead and organise the work of the organisation under direction from the Trustees. These committees are:
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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 Foundation has been instrumental in helping to develop and running field practises in using a new software package called “AmanSafe” in support for the purpose of fulfilling its compliance strategy. It is anticipated that this software will be beneficial and interactive for organisations.
It should be mentioned here that the impact of the recession has taken a toll on financial resources which remains a challenge as experienced during the course of 2023. The Trustees recognise the necessity of making better efficiencies and this became one of its goals during the year. Developing policies and promoting best practise remains an essential component in supporting similar organisations. Many organisations we support have benefited from the regular training and awareness sessions setup by the foundation.
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 2024
Suite 12, 94 Fulham Palace Road, W6 9PL
CONNECTION OF HOPE FOUNDATION
FOR THE YEAR ENDED 31 DECEMBER 2023
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 an umbrella organisation to provide 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.
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 the committees of the organisation. More enhanced support was provided and Aman Safe was rolled out to all sister organisations.
Suite 12, 94 Fulham Palace Road, W6 9PL
CONNECTION OF HOPE FOUNDATION
FOR THE YEAR ENDED 31 DECEMBER 2023
Key management personnel
Most administrative tasks were carried out by the CEO and 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 12, 94 Fulham Palace Road, W6 9PL HRHS Accountancy Accountant’s name and 41 Revere Way address Epsom, KT19 9RQ Lee Bolton Monier-Williams Solicitor’s name and 1 The Sanctuary address Westminster London SW1P 3JT Barclays Bank Banker’s name and 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.
The Trustees have concluded that the charity operation will still carry on to 2024 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 organisations that serve communities in the UK and overseas.
Suite 12, 94 Fulham Palace Road, W6 9PL
CONNECTION OF HOPE FOUNDATION
FOR THE YEAR ENDED 31 DECEMBER 2023
Reserve Policy
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:
Total income is up by 38% (2023 - £178,000) compared to (2022 - £128,600), the increase primarily due to support from major donors and well-wishers of Connection of Hope.
Total expenses are up by 5% approx. (2022- £142,206) compared to (2022 £136,208).
Growth & Expansion in 2023:
The Trustees have been pursuing funders and donors in 2023. This has yielded more support for the cause of the organisation and funding for the work of the organisation. It is aimed that in 2024, the foundation will pursue to expand its role in promoting operations excellence and full impact amongst beneficiaries.
Plans for future period (2024):
Anticipated funding is expected to allow the foundation to continue contracting professional services in all fields of organisational excellence and will be a springboard for the organisation to full impact on its like minded sister organisations.
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 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 prepare the financial statements on the going concern basis unless it is inappropriate to assume that the Charity will 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 Charity at 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 2024.
Dr Saeed Al Ghadi Chairman
Suite 12, 94 Fulham Palace Road, W6 9PL
CONNECTION OF HOPE FOUNDATION
FOR THE YEAR ENDED 31 DECEMBER 2023
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
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: 4[th] October 2024 HRHS Accountancy Hashem Soliman Member of Association of Accounting Technicians 41 Revere Way London KT19 9RQ
Suite 12, 94 Fulham Palace Road, W6 9PL
CONNECTION OF HOPE FOUNDATION
FOR THE YEAR ENDED 31 DECEMBER 2023
Statement of financial activities (including summary income and expenditure account)
| Income and endowments from: | Unrestricted funds to the nearest £ 178,000 178,000 142,206 142,206 35,794 (1,050) |
Unrestricted funds to the nearest £ 178,000 178,000 142,206 142,206 35,794 (1,050) |
Total funds to the nearest £ 178,000 178,000 |
Total funds to the nearest £ 178,000 178,000 |
Last year to the nearest £ |
|---|---|---|---|---|---|
| Donations and legacies | 178,000 | 128,600 | |||
| Total Income Expenditure on: |
178,000 | 128,600 | |||
| Charitable activities | 142,206 | 142,206 | 136,208 | ||
| Total Expenditures | 142,206 | 142,206 | 136,208 | ||
| Net Movement of Funds Reconciliation of Funds Total funds brought forward Total funds carried forward |
35,794 (1,050) |
||||
| (7,608) | |||||
| (1,050) | (1,050) | 6,558 | |||
| 34,744 | 34,744 | (1,050) |
Suite 12, 94 Fulham Palace Road, W6 9PL
CONNECTION OF HOPE FOUNDATION Section B Balance sheet
| FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted funds £ Current assets Debtors 3,000 Cash at bank and in hand 42,795 Total current assets 45,795 Creditors: amounts falling due within one year (11,051) Net current assets/(liabilities) 34,744 Total assets less current liabilities 34,744 Total net assets or liabilities 34,744 Funds of the Charity Funds brought forward (1,050) Unrestricted funds 35,794 Total funds 34,744 |
FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted funds £ Current assets Debtors 3,000 Cash at bank and in hand 42,795 Total current assets 45,795 Creditors: amounts falling due within one year (11,051) Net current assets/(liabilities) 34,744 Total assets less current liabilities 34,744 Total net assets or liabilities 34,744 Funds of the Charity Funds brought forward (1,050) Unrestricted funds 35,794 Total funds 34,744 |
Total this year £ |
Total last year £ |
|---|---|---|---|
| 3,000 | 3,000 | 3,000 | |
| 42,795 | 42,795 | 10,361 | |
| 45,795 | 45,795 | 13,361 | |
| (14,411) | |||
| (11,051) | (11,051) | ||
| 34,744 | 34,744 | (1,050) | |
| 34,744 | 34,744 | (1,050) | |
| 34,744 | 34,744 | (1,050) | |
| (1,050) 35,794 |
(1,050) | 6,558 (7,608) |
|
| 35,794 | |||
| 34,744 | 34,744 | (1,050) |
The financial statements were approved and authorised for issue by the Board of Trustees on 1[st] October 2024 and were signed below on its behalf by:
Dr. Saeed Al-Ghadi
1[st] October 2024
The accompanying notes form part of these financial statements.
Suite 12, 94 Fulham Palace Road, W6 9PL
CONNECTION OF HOPE FOUNDATION
FOR THE YEAR ENDED 31 DECEMBER 2023
Notes to the Accounts
1. ACCOUNTING POLICIES
Basis of Preparation
The 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 12, 94 Fulham Palace Road, W6 9PL
CONNECTION OF HOPE FOUNDATION
FOR THE YEAR ENDED 31 DECEMBER 2023
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.
Suite 12, 94 Fulham Palace Road, W6 9PL
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CONNECTION OF HOPE FOUNDATION
FOR THE YEAR ENDED 31 DECEMBER 2023
Notes to the Accounts
Cont.
| Note 3 | |||||
|---|---|---|---|---|---|
| Donations and Legacies | Total | Total | |||
| Unrestricted | 2023 | 2022 | |||
| £ | £ | £ | |||
| Donations received in UK |
the | 178,000 |
178,000 | 128,600 |
|
| 178,000 | 178,000 | 128,600 |
|||
| Note 4 | 2023 2022 |
||||
| Expenditures | £ | £ | |||
| Governance Costs | 8,791 | 15,025 | |||
| Support Costs | 12,938 | 20206.57 | |||
| Professional fees | 118,401 | 100,977 | |||
| 140,129 | 136,208 | ||||
| 2023 | 2022 | ||||
| Governance Costs | £ | £ | |||
| Audit and accountancy Fees |
2113 | 750 | |||
| Trustees expenses |
meeting | 3,678 | 12258 | ||
| Legal fees | 2,999 | 2,017 | |||
| 8,791 | 15,025 | ||||
| Note 5 Cash at bank and in hand | |||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Cash at bank | 42,795 | 10,361 | |||
| Total | 42,795 | 10,361 | |||
| Note 6 Debtors and Prepayments | |||||
| 2023 | 2022 | ||||
| £ | |||||
| £ | |||||
| Other debtors | 3,000 | 3,000 | |||
| Total | 3,000 | 3,000 |
Suite 12, 94 Fulham Palace Road, W6 9PL
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CONNECTION OF HOPE FOUNDATION
FOR THE YEAR ENDED 31 DECEMBER 2023
Notes to the Accounts
Cont.
Note 7 Charity funds
Details of material funds held and movements during the CURRENT reporting period
Total Funds
| Unrestricted Funds |
Type PE, EE R or **UR *** |
Purpose and Restrictions |
Fund balances brought forward £ |
Income £ |
Expenditure £ |
Fund balances carried forward £ |
|---|---|---|---|---|---|---|
| U | N/A | (1,050) | 178,000 | 142,206 | 34,744 |
Details of material funds held and movements during the PREVIOUS reporting period
| 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) |
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 12, 94 Fulham Palace Road, W6 9PL
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