PakAID (A Company limited by Guarantee) Company Number 11732775 Registered Charity No. 1183821 DIRECTORS, AND TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 LLI LFE SE DIT AND ADVISOR ER Ch rtere cc or
kAID (A Company limited by Guarantee) Charity Number 1183821 Company Number 11732775 FI CIAL STAT HE YEAR E 1ST DE EMB NTENT Pages Legal and Admlnlstrative Information Directors, and Trustees, Report Auditors. Report Statement of Financial Activities io Balance Sheet li Notes to the Financial Statements 12-16
PakAlD (A Company limited by Guarantee) Charity Number 1183821 Company Number 11732775 AR END 31sf D EMBER 02 GALA ADMI STRAT NF ON Incorporation Number: 11732775 Registered Charity Number: 1183821 Trustees/Directors.' Ms A A Chaudhry N Javaid Mrs A Iqbal Key Management Personnel S Yusaf - Executive functions, lead A Hossain Finance functions, lead The above are employees at Al-Khair Foundation (UK Charity No. 1126808) Registered Offlce: 918 Manchester Road, Bradford, BD5 8DH Auditors.. Elliot, Woolfe & Rose Audit and Advisory Services LLP. Chartered Accountants Devonshi House, 582 Honeypot Lane, stanmore, Middlesex HA7 IJS Solicitors: L B Monier-williams LLB l The Sanctuary London, SWIP 3JT Bankers: Lloyds Bank plc 25, Gresham Street London, EC2V 7HN Governing Document.. Memorandum and Articles of Assoclation dated 18th December 2018
Pa (A Company limited by Guarantee) Charity Number 1183821 Company Number 11732775 TRUSTE EPORT THE YE ST The Directors and Trustees present the annual report and the financial statements for the year ended 31st December 2023. LEGAL AND ADMINISTRAllvE DETAILS PakAID is incorporated under the Companies Act 2006 as a company Limited by Guarantee. The Company obtained charitable status with the Charity Commission on 10th June 2019 under registration number 1183821. Only mernbers of the Company may be appointed Directors/Trustees. New Trustees go on an Indurtion Course when first appointed. The following Directors who are regarded as trustees of PakAID held offfice during the year ended 31st December 2023. Ms A A Chaudhry N Javaid Mrs A Iqbal Al-Khalr Foundation. la UK registered charity No 1126808) are responsible for rsjnning the day-to- day artlvities of the Charity without charge. TRUSTEES. RESPONSIBIUTIES The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with the applicable law and regulations. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Mernorandum and Articles of Association, and Accounting and Reporting by Charities- Statement of Recommended Prattice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities. In preparing these financial statements, the trustees are required to.. Select suitable accounting policies and apply them consistentlyi Make judgements and estimates that are reasonable and prudent. Have due regard to guidance published by the Charity Commissioners on public benefit; Prepare the financial statements on the going COnmS basls unless it is Inappropriate to presume that the company will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with the reasonable accuracy at any time the financial position of the cornpany and to enable them to ensure that the financial statements comply with normally accepted accounting conventions. They are also responsibly taking steps for the prevention and detection of fraud and other irregularities. They delegate day-to-day running of the Charity to the CEO of Al-Khair Foundation. The trustees are responsible for the maintenance and integrity of the corporate financial information included on the company's website. None of our Trustees receive remuneration, expenses or other benefits from the Charity.
kAID (A Company limited by Guarantee) Charity Number 1183821 Company Number 11732775 DIRE TOR 'ANDTR NDED (contlnued) TEES. REP RT ST Statement as to dlsclosure to our auditors In so far as the trustees are awa at the time of approving OLTrr trustees, annual report: there is no relevant infomiation, being rnfomiation needed by the auditor in connection with preparing their report, Df which the group's audltor is unaware, and the trustees, having made enqulries of fellow directors and the group's auditor that they ought to have individually taken. have each taken all steps that they are obliged to take as a director in order to make themselves awa of any relevant audit information and to establish that the auditor is aware of that information. Mis$lon Statement PakAID is a registered charity and company limited by guarantee. The initial funding was from Al- Khair Foundation. PakAID is run by a board of directors that meet approx. every two months to agree the strategic direction of the or9anisation and review operations. The overall mission of PakAID is the prevention of, or relief of poverty or hardship in Pakistan or anywhere in the world, by providing grants, items and services to individuals in need andlor charities. or other organisations working to prevent or relieve poverty or hardship. The charity will further its mission additionally by also acting as an Implementing Partner Organisation 11P0) to other charities who can avail the expertise which the Charity has developed. Public Benefit The Trustees confirm that they abide by the Charity Commission's general guidance on public benefit, complylng with $4 of the Charities Art 2011 to have due regard to public benefit in pursuance of its, objectives and artivities. Review of Progress and Achievements The trustees are sat15fied at the pmgress of the Charity since inception. PakAID was launched on 9 January 2019 in London at a prestigious event attended by over 500 guests including dignitaries from the UK and Pakistan and presided over by Chaudhry Mohammad Sarwar (then Governor of Punjab, Pakistan) and Imam Qasim Rashid Ahmad (Founder & Chairman of Al-Khair Foundation and IQRA Tvs). Since inception, PakAID has set-up its UK operations base and initiated colltaet with NGOS and INGOS in the UK and Pakistan for the furtherance of its objertives and has cultivated an expertise to deliver (amongst others) WASH, Shelter, and Religious dues activities and conduct these as an Ipo. The Charity prevlously purchased a property in Chorley {Lancashire) which will generate income and support operations. This is a substsntlal property which will eventually house PakAID's UK HQ and operations and additionally art as a warehoijse. The property is being leased and repaire(J and the Trustees have commissioned several reports on usage to maximise incorne generation.
akAID (A Company limited by Guarantee) Charity Number 1183821 Company Number 11732775 DIRECTORS, AND TRUSTEES. REP FOR THE YEAR ENDED (continued) RT ST MBE During the course of the year under review, PakAID made good progress in delivering humanitarian assistance, positively impacting over 75,000 beneficiaries across Sindh, Punjab, Khyber Pakhtunkhwa {KPKI, and Azad Jammu and Kashmir (AIKI. The efforts spanned a range of critical projects aimed at improving living conditions and providing essential services to the most vulnerable populations. Key Achievements.. Construction of 175 Mosques.. PakAID successfully built 175 mosques in four different regions of Pakistan, benefiting approximately 21,250 individuals. These mosques not only Served as places of worship but also as community centres where local residents could gather and engage in social and educational activities. Construction of 145 Houses for Widows and Needy Farnilies-. As part of its housing initiative, PakAID constructed 145 houses for widows and families in need, providing shelter to 985 individuals. This project airned to offer safe and secure housing to those who had lost their homes due to financial hardship or other crises. 4,847 WASH Projects (Water, Sanitation, and Hygiene)= PakAID implemented 4,847 WASH-based project5 across KPK, Punjab, Sindh, and A3K, significantly improving access to clean water and sanitation facilities. These projects direttly benefited over 55,000 individuals, helping to reduce waterborne diseases and improve overall hygiene and health standards in underserved communities. In addition to its extensive humanitarian efforts, PakAID also implemented essential religious dues programs during Ramadan and Qurbani, addressing both the spiritual and material needs of vulnerable communities. Ramadan Initiatives.. During the holy month of Ramadan, PakAID distributed food packages and essential Supplies to underprivileged families, ensuring they had sufficient resources to obseNe fasting and celebrate Ramadan with dignity. Zakat {charitable giving), Sadaqah (voluntary charity), and Jftar prograrns were organized, enabling beneficiaries to receive much-needed support during this critical time. Qurbani Program.. During the Islamic festival of Eid al-Adha, PakAID facilitated Qurbani - meat and cooked meals were distributed to families Sn need across various regions. This initiative provided nutritious meals to thousands of individuals, particularly those who rarely have access to protein-rich food, makin9 the celebration of Eid meaningftjl for disadvantaged Communities. Through these initiatives, PakAID demonstrated its commitment to enhancing the well-being of communities across Pakistan by addressing their immediate and long-term needs. By constructing mosques, houses, and critical WASH infrastructure, the organization played a pivotal role in transfomiing the lives of thousands of people. Additionally, through the religious dues programs, PakAID not only supported the physical well-being of vulnerable populations but also upheld their
akAID (A Company limited by Guarantee) Charity Number 1183821 Company Number 11732775 DIRE 'ANDTR TEES. REP AR ENDE 31ST DECE {¢ontinued) cultural and religious tradltlons, fostering a sense of inclusion and community during significant Islamic events. 202 Future Works The Trustees will ensure that PakAID remains committed to the prevention or relief of poverty or hardship in Pakistan or anywhere in the world, by providing grants, items and service5 to individuals in need and/or charities, or other organisations working to prevent or lIeVe poverty or hardship. PakAID will work with other INGOS and governmental agencies to foster and nurture effective partnerships to deliver in the areas of water security, food and livelihood security. education and healthcare, in order that affected aa$ make a transition from degendency to self-suffficiency for beneficiaries in Pakistan. The Board are committed to growing the organisation commensurate with its ability to deliver its goals, with the focus currently in the UK and Pakistan. Risk Management Flnancial Rlsk The Trlfstees have the overall responsibility for ensuring that PakAID has an appropriate system of controls, financial and Othe1$e, across the entire organisation in order to provide reasorable assurance that.. Proper records are maintained, Financial information is regularly available, Its assets are safeguarded against unauthorised use or disposition. Regulatory Rlsk PakAID ensures that there are systems and controls in place to ensure that it complies with all relevant laws and regulations. Operatlonal Risk The Board of Trustees has concentrated on those areas where the Charity is potentially at risk and includes continuètion of funding to ensLre solvency. Through these procedures, the Trustees are satisfied that all major risks have been identified and ProdL1res implemented so that key risks are adequately minimised. Reserves Policy The aim of PakAID's Reserves Policy will be to ensure that its ongoing and fijture attivitie5 are reasonably protetted from unexpected financial risks. These could include.. Unexpected changes in funding streams or costs, Changes in working capital requirements to meet cash-flow needs. Specific funds reqUId to meet unexpected one-off items of expenditure. Mrs Almas IQBAL Board of Trustees 25 September 2024
PakAID (A Company limited by Guarantee) Charity Number 1183821 Company Number 11732775 NDEPEND R THEY IT REPORT EMBE EP RTF OpinSon We have audited the accounts of PakAID (the'charity,) for the year ended 31 December 2023 whieh comprise the Statement of Financial Activities including Income and Expenditure, the Balance Sheet, and the notes to the accounts. Including a summary of significant accounting policies. The financial reporting frarnework that has been applied in their preparation is applicable law and United Kingdo Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accountin9 Practice}. In our opinion the accounts.. Give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 and of its incoming resources and application of resources for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice: and. have been prepared in accordance with the requirements of the Companies Act 2006. Basis for oplnion We condurted our audlt in accordance with Intemational Standards on Auditing {UKI ISAS (UK) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical qUirementS that are relevant to our audit of the accounts in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to going concern In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material Ljncertainties relating to events or conditions that, individually or collectivelyi may cast sFgnificant doubt on the Charity's ability to continue for a period of at least twelve months from when the financial statements we authorised for issue. Our responsiblllties and the responsibilities of the Trustees with respect to going concem are described in the relevant sections of this port
(A Company limited by Guarantee) Charfjty Number 118382 1 Company Number 11732775 INDEPENDENT A DITOR'S REPORT R ENDED 31ST DE ntinued EMBER 202 Other Information The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otheNise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistences or apparent material misstateffjents, we are required to determine whether this gives rise to a material rnisstatement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. In confiection with out audit of the accounts. our responsibility is to read the other information and, in doing so, consider whether the other Information is materially inconsistent with the accounts or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the accounts or a material misstatement of the other information. Jf, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are reqUId to report that fact. We have nothbng to report in this regard. Opinion on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit: the information given in the Trustees. Report, which includes the directors, report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements- and the direttors, report included within the Trustees. report has been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by ex¢eption In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors. report included within the Trustees report. We have nothing to report in respect of the followin9 matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us- or the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of trustees, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit- or the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies. exemptions in preparing the Trustees, report and frorll the reqU1ment to prepare a strategic report.
(A Company limited by Guarantee) Charity Number 1183821 Company Number 11732775 DEPENDENT AUDITOR'S REP RT continu R TH R ENDED 1ST DEC MBER 2023 Re$ponsibilities of trustees As explained more fully in the Trustees, Responsibilities Statement, the trustees, who are also dirertDrs of the charitable company for the purposes of company law, are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of accounts that are free from materbal misstatement, whether due to fraud or error. In preparing the accounts, the tnjstees are responslble for assessing the charity's ability to continue as a going concern. disclosing, as applicable, matters related to going concern and using the going concern basis of accounting ursless the directors either intend to liquidate the company or to cease operations, or have no alIstiC alternative but to do so. Audltor's responslbilities for the audlt of the accounts Our objectives are to obtain reasonable assurance about whether the financial statements, as a whole, are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and considered material if, individually or in the aggregate, they could reasonably be expetted to influence the economic decisions of users taken on the basis of these financial staternents. Irregularities, including fraud, are instances of non-cornpliance with laws and regulations. We design procedures in line with our responsibilities. outlined above, to detert material misstatements in respect of irgUI?rities, including fraud. The extent to which our procedures are capable of detecting irregularities. including fraud, is detailed below. As part of our planning process.. We enquired of management the systems and controls the charity has in place, the areas of the financial statements that are most SU5ceptible to the risk of irregularities and fraud, and whether there was any known, suspetted or alleged fraud. The Charlty did not inforffl us of any known, susperted or alleged fraud. We obtained an Ljnderstanding of the legal and regulatory frameworks applicable to the charity. We determined that the following were most relevant.. the Charities SORP, FRS 102, Charities Act 2011, Companies Act 2006, and laws relating to safeguarding and health and safety- We considered the incentives and opportunities that exlst in the Charity, including the extent of management bias, whlch present a potential for Irregularities and fraud to be perpetuated and tailored our risk assessment accordingly. Using our knowledge of the Charity, together with the discussions held with the Charity at the planning stage, we forrned a Conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessfflent.
AID (A Company limited by Guarantee) Charity Number 1183821 Company Number 11732775 INDEPENDEN FOR THE AUDI REND REP con nued D 315T DECEMBER 2023 The key procedures we undertook to detert irregularities including fraud durfng the course of the audit included.. Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual. Reviewlng the financial statement disclosures and determining whether accounting policies have been appropriately applied. Assessing the extent of compliance, or lack of, with the relevant laws and regulations. Testing key income lines, in particular cut-off, for evidence of management bias. Assessing the validity of the classification of income, expenditure, assets and liabilities between unrestricted, designated and restricted funds. Performing a physical verification of key assets. Obtaining third-party confirmation of material bank balances. Documenting and verifying all signlflcant related party balances and transactions. Revlewing documentation such as the charity board minutes for discussions of irregularities including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the trustees of the charity. A further description of our responsibilities is available on the Financial Reporting Council's website at: htt www.frc.or .uk auditorsres report. This description forms part of our auditor's Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable Company's members those matters we are required to state to theffl in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept 01 assume responsibility to anyone other than the charitable company and the charitable company's Members as a body, for our audit work, for this report, or for the opinions we have formed. S.N. Seifert B.A. F.C.A. {Senior Statutory Auditor) For and on behalf of Elliot, Woolfe & Rose Audit and Advi50ry Services LLP. Statutory Auditor Devonshire House, 582 Honeypot Lane. Stanmore, Mlddlesex HA7 IJS 25 September 2024
(A Company limited by Guarantee) Charity Number 1183821 Company Number 11732775 STATEMENT OF FINANCIAL ACTIvrrIES AND INCOME AND EXPENDITURE ou ST nr Fun E tablishmen elu co Restnct Funds IN OME FR Donation5 1.393.959 1,393,959 2,715,762 £1.393.959 £1,393,959 £2,715,762 PEND Raising Funds Charitable Activities= Humanitarian sponse WASH Religious dL+es 474,126 1.875,998 1,007,555 1,521.700 417,265 1.521.700 417.265 TOTAL EXPENDITURE £1,938.965 £1,938.965 £3.357,679 NET INCOMEIILOSSI {545,006) 1545,016) 1641,917) Total Funds brought forward 2,055,512 2,055,512 2,697,429 TOTAL FUNDS CARRIED FORWARD £1,510.506 £1,510,506 £2.055,512 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derlve from continuing activities. The Notes on pages 12 to 16 form part of the Financbal Statements. 10
PakAI (A Company limited by Guarantee) Charity Number 1183821 Company NL¢mber 11732775 ALANCE HEET AT 1ST DECEM ER2 23 Note FIXED ASSEfS Tangible assets 1,305,898 1,318,480 RRENT A SETS Cash at Bank and In Hand 210,608 743,032 NTL ITIE Creditors.. amounts falling due within one year (6,000) (6,0001 le current li 1,510,506 2,055,512 ASSETS £1,510,506 £2,055,512 FUNDS EMPLOY Unrestritted Funds Restricted Funds 1,510,506 2,055,512 fund £1,510,506 £2,055,5 12 The Notes on pages 12 to 16 form part of the Financial Statements. These Financial Statements have been prepared in accordance with the Companies Act 2006 relating to Small Companies. Approved by the Trustees/Directors on 25 September 2024 and signed on their behalf by: Mrs Alma5 IQBAL Chair of Trustees
PakAID (A Company limited by Guarantee) Charity Number 1183821 Company Number 11732775 TEST TH MENTS R THE YEAR ENDED ST BeR2 a) 8asls of accounting The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP {FRS 1021 '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 l January 20151., Financial Reporting standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. b) Ba$1$ of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluatlon of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. ¢) Going concern There are no material uncertainties about the charity's ability to continue. d) DIKlosure exemptlons The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102.. (al No cash flow statement has been presented for the company. (b} Disclosure5 In respect of financial instruments have not been presented. e} Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make J"udgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other fartors, including expettations of future events that are believed to be reasonable under the circumstances. f) Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub-classes.. restricted income fund5 or endowment funds. 12
PakA (A Company Ilmited by Guarantee) Charity Number 1183821 Company Number 11732775 TE FINAN TEMENTS R THE AR ENDED DE (continued) TIN PakAID is a registered charity and not subjert to Income or Corporation tax on its Income or Activities provided that resources are expended on the defined Charitable Artivities. The property acquired in earlier years has been depreciated in line with recommended rates for buildings. These accounts comply wlth The Charities SORP FRS 102. MI Un strtcted Fund Re ricted Fun tal Donations Voluntary Income Grants El,393,959 £1,393,959 £2.715.762 NDIT HARITAB VITI st tal 2023 2022 stof eneratin haritable Activiti Humanitarian response WASH Religious dues 474,126 1,875,998 1,007,555 1,496,617 410,387 25,083 6,878 1.521,700 417,265 Total Charitable Activities £1,907,004 £31,961 £1,938,965 £3,357,679 AII costs are from restrlrted funds. 13
PakAID (A Company limited by Guarantee) Charity Number 1183821 Company Number 11732775 E FINAN AL TATEM FOR THE YEAR ENDED 31ST D (continued) fEm ee There are no employees; all management functions are carried out by Dlrectors and employees of Al-Khair Foundation (see Legal and Administrative details on page 21. ru 'Re ner tio nd The Trustees received no Remuneration, Expenses or Benefits. No indemnlty insurance is paid for the Trustees. 14
(A Company Ilmited by Guarantee) Charity Number 1183821 Company Number 11732775 TES TO THE FINA TATEMENTS srDE (contlnued) EMBER Freehold Freehold Buildin As at l January 2023 Additions Release As at 31 December 2023 98.005 1.258,221 1,356,226 £98,005 £1,258,221 £1,356,226 As at l January 2023 Charge for the year Release As at 31 December 2023 37,746 12,582 37,746 12,582 £50,328 £50,328 IDe mber 2023 E98,005 £1,207,893 £1,305,898 IDe ember 2022 £98,005 £1,220,475 £ 1,318,480 £1.5 million was allocated for office acquisition and set up costs, from which the trustees agreed to purchase a property to utilise as a UK Head Office, and to generate unrestricted income for it5 ongoing operations. The purchase was completed in March 2020 and £1,500,000 was transferred to'Restricted Fund5 U.K. Establishment set up costs., and from this fund, the costs of the freehold and other associated costs were taken. RED E WITHI Audit fee 6,000 6,000 There were no capital and refurbishment commitments at 31st December 2023. IN ENT LIABILIT There were no contingent liabilities at 315r December 2023. 15
(A Company limlted by Guarantee} Charity Number 1183821 Company Number 11732775 STOTHEFI AL TA EM E YEAR END 1ST DECEMB (continued) 23 ARTY T The Related Party transactions to be reported are the major continuing assistance and help received from Al-Khair Foundation, whose staff are assisting the Trustees in the rnnning of the Charity. During the year, donations were received from Al-Khair Founéation of £1,393,959. (2022 £2,715,762). Funder Balance at In ome Ex Transf an Reallocation 5t Dec mber 2023 UK Setup costs Designated Fund {Fixed assets) Humanitarian Response Community Donations WASH Religious Dues Al Khair Foundation 54,361 54,361 1.318,480 (12,5821 1,305,898 682,671 976,694 417,265 { 1,521,700) (417,265) 12,582 150,247 £2,055,512 £1.393,959 £(1,938,9651 £1,510,506 io. FNEfAS EENF stricted o$Ld Total 2023 Fixed assets Cash at Bank Creditors 1,305,898 210,608 16,0001 £1,510,506 1,305,898 210,608 1,318,480 743,032 16,000) £2,055,512 £1,510,506 16