Basarfoundation for the Period-ended 30 April 2025 The Basar Foundation (A Charitable Incorporated Organisation) Trustees Annual Report & Unaudited Financial Statements forthe period-ended 30 April 2025 Charity No. 1182983 for the Pen0d-ènd￿ 30 April 2025 Basarfoundation for the Period-ended 30 April 2025 Cont•nts Pa9• Reference & Administrkn've Informatron Aims & Objectives-The Aims & Purpose ofthe chanty - Ensuring our activities deliver those Aims - The focus of our work in this period Delivering a Public Benefft Beneficiaries of our grant_making Principal lunding sources - Plans lor fLrtur¢ periods 4&5 Strurture, Governance & Managomgnl - Governing document - Recruitment. appointment and payments to Trustees - Trustee induction & training - Organisational structur• - Risk management 5&6 Financial Review Financial position - Reserves policy - Invèstment policy - Going Concern - Auditors and review of Finanaal Statemer 6&7 Ststement of Trustees, responsibilities Statement of Financial Activity - Income & E%penditur• aecount Balance Sheet - Note5 to thè Financial Statements 8toll Basarfoundation for the Period-ended 30 April 2025 The Trustees p￿sent1heIrAnnUaI Report and unaijdited Financial Statements of the Charity for the Peritsd l May 2024 to 30 April 2025. The Trustees have adoptod the provisions of Accounting and Reporttng by Charities.. Statement ol Recommended Practice applicable to charttrès preparing their accounts in accordance wrth the Financial Reporting Standard applicable in the UK and the Republic of Ireland IFRS 11021 leffective l January 20191. 1. REFERENCEAND ADMINisfRAThE INFORMATION The Basar Foundation 1182983 14 Bloomfield Park, Bath. BA2 2BY. Mr MJ Allsop Chair Mrs DJ Allsop TTeasurer rs M Allsop Treasurer Mr PR Allsop Secretary & Treasurer (r&appointed i S April 20231 Irestr9ned 31 JarTruary 20251 (appointed 31 January 20251 Ir+appointed 15 April 20251 Employ The Charty had no employees In the Period ￿th all actNty undertsken by the Trustees. The Charity had no retained advisors in the pèriod. Bank•rs HSBC plc. 41 SotJlhgatÈ. Bath. 8A1 ITN. Basarfoundation for the Period•ended 30 April 2025 2. AIMS AND OBJEcnvES These are set out in the Objècts within our Constitution whTrch, as a Charitable Incorporated Organisation I'CIO'I, is our goveming dooJmenL They are to.. - advance the Christian fatth: - bring reliefto people who are aged. sicl widowèd or orphaned,- with a particular emphasis on helping profèssing Christians,. -facilitate the provision of healthcare and education to those in need.. - advocate and promote the intemationally accepted fundamental right of freedom of all religlOUS expression and supportthose that are peT5ecuted or suffer hardship on account of their Christian faith. The Charrty is primarily a grant-making organisatton that seeks to achieve its aims and objectives through partnership wtth NGOS ¥*hose WSFon and values are aligned with our own. Each grant application or candidate for grarrt-funditsg is careful￿ considered and weighed against our stated Aims and Purpose. An o￿n and robust di￿$s1o￿ of possible grant-funding opportunities is a core part of our regular Trustees meetings. Similarfy at those Tnjstee meetings updates are provided on those to whom grants have been made. Reporting Es required from rec*pients to ensure our 9rant-makiDg 15 effective. W￿l1-Managed and cons1Stent with our Aims and Purpose. All grants must be made pursuant to the Chartty's Grant Policy wh￿ch itself follow5 very closely the model GTant Policy provided by Stewardsh*p. a recognised leader in providing best- PraCt￿ce support to charities. Furthermore, we referto the guidance contsined in the Charity Commission's 9enèral guidance on public benefft when deciding on grant applications and in planning our future activitTres. In particular. the Trustees consider how planned activities will contfibute to the aims and objectives they have set. The focu$ of our work In thls perlod In this our sixth period of operation we have continued ourfunding lor an Indtan NGO whose work encompasses a small church, orphanage and mission to local widowed women in Kakinada. Andhra Pradesh. Mar9tnalised communities. such as those we support in Kakinada. have contintjed to experiènce significAnt price inflation for basic nécessities in the period and wè have sought to maintain our SUPF)Ort in real term5. Following the tragic death of one of the foimer orphans we have set up a separate Restricted Furld with the intentÈoD of helping older, more able, students complete tertiary or vocational education with the aim of improving their lrfe chances. Whilst not exclusively for young women, we particularFy welcome grants to them due to the discrimination prevalent in mor• traditional parts ol Indtan 50cigty. Basarfoundation forthe Period-ended 30April 2025 Dellvering a Public Benefft The activity undertaken and who we have helped are described below. All such activity has been guided by and been consistent wtth the Objects ofthe Charity and were undenaken to further our charrtable purposes forthe Public Benefit As Such the Trustees have met the requirements ofthe Charitses Act 2011. B•n•fioariw of our grant-bNklng In thè Period payments were made to a Registered Society Icharty} in the Indian Stste of Andhra PrJdesh. The Charty supported is an evangelical church whosè pagtor also operates a home for local children who have erther bèen orphaned or whose afe families unable to support them. It also provide5 SUPPOrtfor a group of local widctrws who WOLJld othetwise be unable to support themselves. Our grant-making helped feed the orphans under the pastof s Cafe at a time of increased fctrod pricès and uncèrtainty_ The fundrng from our Restricted Funds for three girls entering tertiary education was a highlight this year. All are taking vocational 5Èudy leg nursing} and we see this as the rrw)st meanin9ful way lorthem to improve their lif￿hanCeS and to have greater control over their own destinies. We are ￿eaSed with the deepening co-operation with the Indtan charity and are confidentthat thelr projects meet our standards and requirements. A con￿ntrated approach to grant-making is expected to result in better outcomes, more efpicient use of spend and greater engagementfor donors and recipients. Principal funding sources The charTrWs ￿nCOrne has continued to consist pllmarily of donations by the Trustèes thèmselves. Plansfor firture perk•ds The Charity plans to continue its support ofthe church and orphana9e in Andhra Pradesh as well as identifying further partners. both in the UK and Overseas, with whoffl we might work. We continue to evaluate a number of options with the most promising being a small-scale project based in Uganda which one ofthe Trustees has visited and provided some funding already from his own resources. Whilst it remains our intention to SUPF)Ort the re-training of older Christian women who are eithèr unemployed or enga9ed in casual. manual labour amongst the pastorfs congregation in Kakinada, we have made little progress vrith thi5 inttiative. Oui focus has switched more towards funding hi9her and vocational education for the most promising of the orphans. We see this as a viable route to breakthe cycle of povety and look for%vard to extending this initiative over the next year if appropriate. 3. sfRucfuRE. GOVERNANCE AND MANl•lAGEMEiir Governing document The or9anisation is a Charitable Incorporated Organisation. registered as such with Companies House and the Charity Commissioners of England & Wales on 15 April 2019. The CIO, whose only voting members are its Charty Trustees. uses the-Foundation- mcx4el constrtution in line with guidance from the Chartty Commissioners. The Tru5tee5 have been appointed in line wtth the CIO Constitution and have agred to for a period of 4 years IMJ Allsopl and 3 years (PR Allsop). M Allsop has been appointed on a temporary basis following DJ AIIsop's resignation in January 2025. All Trustees give theirtime voluntarily and Basarfoundation for the Period-ended 30 April 2025 received no benefits from the Charty. Any expenses reclaimed from the Charity are set out in nota 5 to the Financial Statements- there were no su& expenses Incurred in the period. Tntstee inducbon and training All Trustees have a strong understandin9 of the Objects objectives and practical work of the charity. At this stsge T)0 forrnal induction or trainin9 is considered necessary with each Trustee responsible for both explortng ways in which the Chartty mi9ht most efficiently meet its Objects and ensuring they are ab￿ast current policy and bèst practice relating to UK-based charities. Formal induction and training will be provided for rt¢w Trustees who are either less familiar with thè Charity's objectives or UK Charity law and best practi￿. Oryantsational structure The Basar Foundation has three TTUStees who meet ￿gularfY and are responsible for the strategic direction and policy of the Charity as well as all administrative and Èxectrtive tasks. The Tnjstees have very different backgrounds bringing the ne￿SSary diversity, challenge and insight to decision- makin9. The Secretsryrrreasurer has extensive expertence of operating within the charitable secror, including workin9 Wtth overseas partners in the developing world, and is primarily responsible for legal and governance matters_ Reswnsibilty for day to day maiters rests prirnarily with the Chairman who also, due his professional expertise. deals with most financial matters. Rlsk management As a grant-making organisation the risks faong the charty are primarity finanaal and reputation arising from potentially unwise or improper grants made and a lack of oversight accountability and improper behaviour on the part of the reclpient The qualty of and adhereTrce to the Charity's Grant Policy. referred to above. therefore plays a critrcal role in managing these risks. Risks are minimized by the implementstion of appiopriate procedure5 for the authorisats.on of all grènts made and all other expenditure. In addityon, as the Charity begins to scale, the Trustees will conduct a review of the majoi risks to which the Charty is exposed. This wi51 fesvlt in a risk register setting Out those r¥sks and any m*ti9ating processes or procedures. The risk register will then be reviewed and updated annually. or more Irequendy rf necessary. FINANCIAL REVIEW Flnandal posilloft The Charity's income forthe peri¢xl vndÈr review was £23,640 {2024: £2.9741. Expenditure amounted to £6.25112024-. £6,847). At the Balance Sheet date totsl reserves were £20.86612024: £3,476104 which all were Unrestricted Funds Reserves poll The Charity intends to retsin sufficient on depostt with HSBC to meet expected grant expenditure for the following 12 months. Following ts¥o large donations this year we have placed £11,000 in fixed tem) FSCS backed deposrt account. WÈ expect the level of grant expendlture to increase modestly in the forthcomin9 year but expect donations to be markedly down owing to the one-off large donations received this year. Basarfoundation for the Period-ended 30 April 2025 Inv•sbMnt polky The TrU￿ee5 havè invested their excoss funds so as to rètain. x far as is possiblè, their rèal purchasing power. Golng Canc•rn The Trustees have a reasonable expectation that the charity has adequate resources to continue lor the foreseeable future. Accordingly. they have adopied a going concern basis in preparing the annual report and accounts. No Independent examination or exiernal 3udii of thè Financial StstemÈnts was r@quir•d oi undertakÈn since the Chartvs income remainèd below the £25.000 threshold and ther¢ bèing no separate requirement to do so in the Constilution. 5. sfATEMEtrif OF TRUSTEES. RESPONSIBIUTIES The Trustees are responsible for preparing the Report of the Trustees and the Financial Statements In accordance with applicable law and Uniied Kingdom Accounts'ng Standards (UK GA4PI. The law applicable to chaflties in England and Wales. Ihe Charitie5 Act 2017. Charity Accounts and Reports) Regulations 2008 and the Provisions of the ConstitL¢tion requires the Trustèes to propare financial staiements for each linancial ye3r which give a trL*e and fair vi•w of tha state of affairs of the Charity and ofthe incoming resources and application of resources, including the income and expenditure. ol the charity for that ￿riOd. In preparing those financial ststements. the Trvstèès are required to.. . select suitable accounting policies and thèn apply them consistendy.. . observe the method5 and principles in the Charity SORP.. . make judgements and estimates that are reasonable and prudent prepare the flnancial statements on the going concern basis unless it is inappropriate to presume that the Charity will coniinue in business The Trustees are responsible for maintaining propèr accounting records which diselose with reasonable accuracy ai any time, the financial position of the charity and to enable them to ensure that the fTnanciJl statements comply wrth the Charities Act 2011. the Charity (Accounts and Rèports) Regulations 2008 and the provisions of thè Constitytion. They are also responsible for safeguarding the assets of the chèritable Incorpor￿ed Ofgani5ation and hence for tsking reasonable steps for the prevention and deleclion ol fraud an(5 oihef Ifiegulafilie5. Approved by order of the Board ofTruslees on 26 June 2026 and signed on its bèhalf by: MT MJ Atlsop Ichairl Basarfoundation for the Peyiodended 30 April 2025 6. STATEMENT OF FINANCIAL AcnvmES INCOME STATEMENT FOR TrIE PERIOD ENDED 30 APRIL 2025 Note 2025 ZOZ3 Unr￿InC fund5 a02> 2OÈ4 Toi•lfunds lunds INCOME Dtsnations& Lègacl•s Chèrit3bl• AcUv4tlgs 20.¢500 21,¢>JO 3,100 It)vestm•nti 327 2,313 22.913 327 Oth•r 2.313 23.640 94 3,194 EXPENDITURE Raising Fund5 Charitabl• At￿vItIeS Oth•r 13,4011 12.7091 1901 12,8491 16.1701 {0,759} 1881 140281 Tvt•l 13.4011 NETINCOMI 13.0011 17J90 3,873 RECONCIUATION OF FUNDS Fundx brou9ht fowwthrd Mov•m•nt Funds Tr•nder b*tw•*n Funds 3.476 20.391 13.0011 3.476 17.390 7.349 13.8731 13,0011 3.001 TOTAL FUNDS C￿RIED FORWARD 3.476 Basarfoundation for Ehe Period-ended 30 April 2025 BALANCE SHÉET AT 30 APRIL 2025 202$ X125 2025 2024 Funds Tangible As5etè Inv@stm9lllS CVRRE14T ASSEYS Debto Inv•sim•nts 327 11,OfXS 10,630 327 106 Cash 10.630 3.&50 CREDITOA5 Cteditors withsn I year (1.0911 11.0911 (2WI H￿cuR1E￿￿ ASSErs 20.866 20.866 3.476 YOTALASSETS LE55 20￿66 3.476 FVNDS OF IHE UDrestNded Funds Restricted Fund$ 20,866 20.866 3.401 75 TOTAL FUN05 20,866 ZOM66 3,470 The Financial Ststements were approved by the Board of Trustees and authorised for issue on 26 June 2026 and were 5tgned on its behaFF by-. .¢ ALLS&. MrP Allsop, seCr￿ry Mr MJ Ajlsop, Chair Basarfoundation for the Period-ended 30 Apri12025 FOR THE PERIOD ENDED 30 APRIL 2025 I. ACCOUNTING POLiaES Ba4$ of preparlng the financial statements The financial sratements ofrhe charity, which is a public benefft entsty under FRS 102, have been prepared in aCCOTdance with the Charities SORP IFRS 1021'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing theiy accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland IFRS 1021 {afféctive 1 January 20191, Financial Raporting Standard 102 Tho Financial Rgporting Standard applicable in the UK and the Republic of Ireland, and the Chaiities Ad 2011. Thè financial ststements have been prepared under the historical cost convention. Incom• All income is recogni5ed in the Ststement of Financial Activrti05 once the charity has entitlement to the funds, it is probable that the income will be re￿1Ved and the omount un be measured reliably. Exp•ndliu Liabilities ar• recognisod as oxponditur• as soon as thor• is a l•gal or eonstructiv• obligation commrtting the charity to that expenditure, it is probable that a transfor of economic bengfit5 will be required in sèttlement and the amount can bè measurèd reliably. Ex￿nditUre is èccounted for on an accruals basls ènd has been classffled under the headirwj that aggregatè all costs related to the category. Where costs cannot be directly attributed to p8￿cUtar headings they have been allocatad to activitiès on a basis consistènt with thé usè of résour Twglbl• Flxed Asff•ts The charity held no Fixed Assets in the period. The charity 15 exempt from tsx on account of its solely charitable activities. Fwd A¢¢ountlng Unrèstricted funds can bè US￿ in accordancè with thè charitsble objectives atthe discretion of the trustees. RestrFrtèd fijndg can only bè used for particular réstrict￿ purpt>ses within the objects of the eharity. Rèstrictions aris• wh•n syeified by the donor or when the funds raised for particular restricted purposes. Financial Instrumeb All linancial assets and financial liabilities of the charty qualify as basic financial instruments. Basic financial instruments arp inrtially recognised at transactiorb value and subsequently measured at their 5ettlementvalue. Basarfoundation for the Period-endéd 30 April 2025 NOTES TO THE FINANCIAL STATEMENTS. contlmmd FOR ThE PERIOD ENDED 30 APRIL 2025 2. INCOME 202$ £ Oonations GiftAid r•c•S¥ed Inve51m•htAttount intqrnst TOTAL 2313 327 CHARITABLE ACTMTIES COSTS 2020 £ Gi•nis Mad• portCDstsiye* N￿•41 TOTAL 10.2507 SUPPORT COSTS M4n• •m•nt Gov•rn4nc• Oiher18ènk chai es lor •ntsio In&•} 1801 5. TRUSTEES, REMUNERATION AND BÉNEFITS Ther¢ w¥re no TrusteÈs' remuneration or other benefit payments for the Period-ended 30 April 202S. No Trustees were reimbursed for any expeft￿ Incurred on behalf ol the tharity in the Period. 8nd•d 30 April 2025. 6. CREDrroAS: AMOUNT5 FAWNG DUR WIThIM OME YEAII Other Creditors £1.091 The Charity banks with HSBC and pay in arrears for bank account service$1£S1. MJ Alsop funded payments to India early 2025 which were not reimbursed prior to year-end c105e1£1,0861. Basarfoundation for the Period-ended 3Q April 2025 7. MOVEMEMf Ihl FUNDS ¢)p•w £ 1 IW 21)24 3.476 Cb•51ng Funds £ JO Aprm 2025 20,866 Unr•$irIc￿I Funds l-Genefal Fund"I Re51ricied Fund I"Educaiion Fundl TOTAL FW4DS 17.390 3.476 17.390 20.066 Net movement in fijnds, included tft the above are as follows". Funds £ 13,0011 Unrestrictèd Fund5 I"General Fynd-l Restrictetl Fund I'Edu¢ation Fund") TOTAL FUNDS 23.240 12.8491 17.390 400 13,4011 3,001 23.640 1625111 17.390 RELATED PARTY DisaosuRES There were no related paty transactions in the period ended 30 April 2025. As disclosed at Note 6 above. the expenditure of the Charty for this Perlod vias paid for by a Trustee who is to be reimbursed at cost lor that expenditure.