THE AYDIN FOUNDATION REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS 31[ST] MAY 2024 REGISTERED CHARITY NUMBER: 1182419 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31st MAY 2024 ## FOR ## THE AYDIN FOUNDATION Page 1 THE AYDIN FOUNDATION REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS 31[ST] MAY 2024 REGISTERED CHARITY NUMBER: 1182419 ## Contents ||Page| |---|---| |Administrative details|3| |Trustees’ Report|4| |Independent Examiner’s Report|8| |Statement of Financial Activities|9| |Balance Sheet|10| |Notes to the Financial Statements|11| Page 2 THE AYDIN FOUNDATION REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS 31[ST] MAY 2024 REGISTERED CHARITY NUMBER: 1182419 ## Administrative details |Name of charity|The Aydin Foundation| |---|---| |Registered charity number|1182419| |Trustees and Directors|Mohammed Rumel Kamaly (Chair)| ||Shafiqur Kamaly (Trustee)| ||Fahmida Chowdhury (Trustee)| |Registered office|Ratnam & Co.| ||203 Kilburn High Road| ||London| ||NW6 7HY| |Bankers|NatWest Bank| |Independent examiner|Ratnam & Co.| ||203 Kilburn High Road| ||London| ||NW6 7HY| Page 3 REGISTERED CHARITY NUMBER: 1182419 THE AYDIN FOUNDATION REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS 31[ST] MAY 2024 ## **Objectives of the charity** The Aydin Foundation aims to undertake specific aid programs designed around the lack of clean and safe water whilst also educating those who’d be using it. We believe it’s important to not only provide clean, safe water but also to avoid any further spreading of diseases and to educate its safe practice along the way. The foundation also aims to provide under-privileged children with educational resources to allow them to prosper. ## **Our strategic priorities are:** - To combat key areas around the world suffering from the lack of clean water, sanitation, and hygiene by implementing water wells. - To reduce aid dependency and encourage self-sufficiency, allowing villages to depend on its own resources by providing education and practical life skills. ## **Projects undertaken.** ## **a) Ramadan Food Distribution Project** Location: Uganda - Ramadan Food Distribution - March 2024. The total cost of the project was £2,000. ## **b) Water Well Project** Location: Yemen - Large scale water well project serving almost 11,000 people. The total cost of the project was £63,000. ## **c) Feed The Orphans Project** Location: Uganda, the total cost of the project was £510. Page 4 THE AYDIN FOUNDATION REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS 31[ST] MAY 2024 REGISTERED CHARITY NUMBER: 1182419 ## **Financial review** The charity received income of £53,955 (2023: £62,593) in the period ended 31 May 2024 including major grants and donations. Expenditure for the year amounted to £69,356 (2023: £21,703). The charity made a Surplus which has been carried forward into the next year as income of £54,986 (2023: 70,387). ## **Reserves policy.** The charity holds cash at bank of £92,729 (2023: £108,131) as a reserve. This is intended to cover potential bad debts for the quarter ahead. The charity has no significant fixed overheads. The Trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. ## **Structure, governance, and management** The Aydin Foundation is a registered charity number 1182419. If the CIO is wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities. ## **Charity trustees** (1) Functions and duties of charity trustees The charity trustees shall manage the affairs of the CIO and may for that purpose exercise all the powers of the CIO. It is the duty of each charity trustee: (a) to exercise his or her powers and to perform his or her functions in his or her capacity as a trustee of the CIO in the way he or she decides in good faith would be most likely to further the purposes of the CIO; and (b) to exercise, in the performance of those functions, such care and skill as is reasonable in the circumstances having regard in particular to: (i) any special knowledge or experience that he or she has or holds himself or herself out as having; and, (ii) if he or she acts as a charity trustee of the CIO in the course of a business or profession, to any special knowledge or experience that it is reasonable to expect of a person acting in the course of that kind of business or profession. Page 5 REGISTERED CHARITY NUMBER: 1182419 THE AYDIN FOUNDATION REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS 31[ST] MAY 2024 The total number of the Trustees of the charity is 3 and, is listed on page 3. They have each served during the year. ## **Statement of Trustees’ responsibilities** The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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, including the income and expenditure, of the charity for that period. In preparing these financial statements, the Trustees are required to: - Select suitable accounting policies and then apply them consistently - Observe the methods and principles in the Charities SORP - Make judgements and estimates that are reasonable and prudent ● State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements ## ● Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation charity 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 charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts 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. ## **Preparation of the report** 31/03/2025 The report was approved and authorised for issue by the Trustees on ………………………… and is signed on behalf of the Trustees by: - **Chair** **Treasurer** Page 6 THE AYDIN FOUNDATION REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS 31[ST] MAY 2024 REGISTERED CHARITY NUMBER: 1182419 ## **Independent Examiner’s Report to the Trustees For the period ended 31 May 2024** I report to the Trustees on my examination of the accounts of the charitable company for the Period ended 31 May 2024. ## **Responsibilities and basis of report** As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiners statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or • the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Approved on …………………………. by; Page 7 THE AYDIN FOUNDATION REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS REGISTERED CHARITY NUMBER.. 1182419 ST 31 MAY 2024 St•t•m•nt ol Fln•n¢l•l A¢tlvltl•i Iln¢ludSni summ•ry ol In¢om• •nd Exp•ndltur• A¢¢•untl Period ended 31 May 2024 2024 2023 Unresticted Funds Restricted Funds Tot31 Funds Total Funds Income and EndowThents form Charitable Activities 53.955 62,593 Enpenditure on., Raising funds Charitable activities Other 65.560 3,796 65,560 3.796 19,280 2,423 69.356 69,356 21,703 Net (Expenditure}￿n¢Ome -15.401 -15,401 Reconciliation ol funds Total funds brought fonmard 70,387 70.387 29,497 Totsl fund carrled fotV4ard 54.986 54,986 70,387 Page 8 THE AYDIN FOUNDATION REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS 31[ST] MAY 2024 REGISTERED CHARITY NUMBER: 1182419 The financial statements were approved by the Board of Trustees and authorised for issue on 31-03-2025 ……………………………… and were signed on its behalf by: Chair Treasurer Page 9 THE AYDIN FOUNDATION REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS 31[ST] MAY 2024 REGISTERED CHARITY NUMBER: 1182419 ## **Notes to the financial statements.** ## **1 Basis of preparation** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. Critical accounting judgements and key sources of estimation uncertainty The financial statements include the valuation of investment property and listed investments. Due to the nature of these investments, although they are included in the financial statements at values that are appropriate at that time, there are external market factors that could lead to these estimated valuations changing in future accounting periods. ## **2 Accounting policies** ## _**Income**_ Income is included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability. Performance related grants are recognised to the extent that the charity has provided the specified goods or services. ## _**Expenditure and liabilities**_ Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the yearend date are noted as a commitment but not accrued as expenditure. Page 10 THE AYDIN FOUNDATION REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS 31[ST] MAY 2024 REGISTERED CHARITY NUMBER: 1182419 ## _**Allocation and apportionment of costs**_ Governance costs are allocated to charitable activities. ## _**Taxation**_ The charity is exempt from tax on its charitable activities. ## _**Fund accounting**_ Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. ## _**Debtors**_ Debtors are measured at the value invoiced net of any provisions for bad debts. ## _**Liabilities**_ Liabilities are measured at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as an advance for goods or services it must. Page 11 THE AYDIN FOUNDATION REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS REGISTERED CHARITY NUMBER.. 1182419 ST 31 MAY 2024 Exp•nditur• 2024 Total Funds 2023 Total Funds Unrestricted Funds Re5thcted Funds Expenditure on raisTrTrg funds Adverrislng and promotlon Expenditure of charitsble activates 3,230 16,050 65,560 65,560 65,560 65.560 19,280 Other Accountancy Bank Charges Cornputer costs Subscription Sundry expesne5 Depreclatlon 2,160 123 1,249 216 2,160 123 1,249 216 2,160 57 47 49 49 50 3,796 3.796 2,423 Total 69,356 69.356 21,703 Page 12