2024-12-31-accounts

PakAID

(A Company limited by Guarantee)

Company Number 11732775 Registered Charity No. 1183821

DIRECTORS’ AND TRUSTEES’ REPORT

AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2024

ELLIOT, WOOLFE & ROSE AUDIT AND ADVISORY SERVICES LLP

Chartered Accountants

Registered Auditors

PakAID

(A Company limited by Guarantee)

Charity Number 1183821 Company Number 11732775

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2024

CONTENTS

	Pages
Legal and Administrative Information	1
Directors’ and Trustees’ Report	2-5
Auditors’ Report	6-9
Statement of Financial Activities	10
Balance Sheet	11
Notes to the Financial Statements	12-16

PakAID

(A Company limited by Guarantee)

Charity Number 1183821 Company Number 11732775

YEAR ENDED 31[ST] DECEMBER 2024

LEGAL AND ADMINISTRATIVE INFORMATION

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 Office:	918 Manchester Road,
	Bradford,
	BD5 8DH
Auditors:	Elliot, Woolfe & Rose Audit and Advisory Services LLP.
	Chartered Accountants
	Devonshire House,
	582 Honeypot Lane,
	Stanmore,
	Middlesex HA7 1JS
Solicitors:	L B Monier-Williams LLB
	1 The Sanctuary
	London, SW1P 3JT
Bankers:	Lloyds Bank plc
	25, Gresham Street
	London, EC2V 7HN
Governing Document:	Memorandum and Articles of Association
	dated 18thDecember 2018

1

PakAID

(A Company limited by Guarantee)

Charity Number 1183821

Company Number 11732775

DIRECTORS’ AND TRUSTEES’ REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2024

The Directors and Trustees present the annual report and the financial statements for the year ended 31st December 2024.

LEGAL AND ADMINISTRATIVE 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 10[th] June 2019 under registration number 1183821. Only members of the Company may be appointed Directors/Trustees. New Trustees go on an Induction Course when first appointed.

The following Directors who are regarded as trustees of PakAID held office during the year ended 31[st] December 2024.

Ms A A Chaudhry N Javaid Mrs A Iqbal

Al-Khair Foundation, (a UK registered charity No 1126808) are responsible for running the day-today activities of the Charity without charge.

TRUSTEES’ RESPONSIBILITIES

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 Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice 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 consistently;

• 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 concerns basis 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 company 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.

2

PakAID

(A Company limited by Guarantee)

Charity Number 1183821 Company Number 11732775

DIRECTORS’ AND TRUSTEES’ REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2024

(continued)

Statement as to disclosure to our auditors

In so far as the trustees are aware at the time of approving our trustees’ annual report:

• there is no relevant information, being information needed by the auditor in connection with preparing their report, of which the group’s auditor is unaware, and

• the trustees, having made enquiries 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 aware of any relevant audit information and to establish that the auditor is aware of that information.

Mission Statement

PakAID is a registered charity and company limited by guarantee. The initial funding was from AlKhair Foundation. PakAID is run by a board of directors that meet approx. every two months to agree the strategic direction of the organisation 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 and/or 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 (IPO) 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, complying with S4 of the Charities Act 2011 to have due regard to public benefit in pursuance of its’ objectives and activities.

Review of Progress and Achievements

The trustees are satisfied at the progress 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 contact with NGOs and INGOs in the UK and Pakistan for the furtherance of its objectives and has cultivated an expertise to deliver (amongst others) WASH, Shelter, and Religious dues activities and conduct these as an IPO.

The Charity previously purchased a property in Chorley (Lancashire) which will generate income and support operations. This is a substantial property which will eventually house PakAID’s UK HQ and operations and additionally act as a warehouse. The property is being leased and repaired and the Trustees have commissioned several reports on usage to maximise income generation.

3

PakAID

(A Company limited by Guarantee)

Charity Number 1183821

Company Number 11732775

DIRECTORS’ AND TRUSTEES’ REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2024

(continued)

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 (KPK), and Azad Jammu and Kashmir (AJK).

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 Families:

  • As part of its housing initiative, PakAID constructed 145 houses for widows and families in need, providing shelter to 985 individuals.

  • This project aimed 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 projects across KPK, Punjab, Sindh, and AJK, significantly improving access to clean water and sanitation facilities.

  • These projects directly 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 observe fasting and celebrate Ramadan with dignity.

• Zakat (charitable giving), Sadaqah (voluntary charity), and Iftar programs 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 in need across various regions.

• This initiative provided nutritious meals to thousands of individuals, particularly those who rarely have access to protein-rich food, making the celebration of Eid meaningful 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 organisation played a pivotal role in transforming 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

4

PakAID

(A Company limited by Guarantee)

Charity Number 1183821 Company Number 11732775

DIRECTORS’ AND TRUSTEES’ REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2024

(continued)

cultural and religious traditions, fostering a sense of inclusion and community during significant Islamic events.

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 services to individuals in need and/or charities, or other organisations working to prevent or relieve 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 areas make a transition from dependency to self-sufficiency 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

Financial Risk

The Trustees have the overall responsibility for ensuring that PakAID has an appropriate system of controls, financial and otherwise, across the entire organisation in order to provide reasonable assurance that:

• Proper records are maintained,

• Financial information is regularly available,

• Its assets are safeguarded against unauthorised use or disposition.

Regulatory Risk

PakAID ensures that there are systems and controls in place to ensure that it complies with all relevant laws and regulations.

Operational Risk

The Board of Trustees has concentrated on those areas where the Charity is potentially at risk and includes continuation of funding to ensure solvency.

Through these procedures, the Trustees are satisfied that all major risks have been identified and procedures 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 future activities are reasonably protected 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 required to meet unexpected one-off items of expenditure.

Mrs Almas IQBAL Board of Trustees 28 October 2025

5

PakAID

(A Company limited by Guarantee)

Charity Number 1183821

Company Number 11732775

INDEPENDENT AUDITOR’S REPORT REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2024

Opinion

We have audited the accounts of PakAID (the ‘charity’) for the year ended 31 December 2024 which 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 framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting 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 2024 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 opinion

We conducted our audit in accordance with International Standards on Auditing (UK) ISAs (UK) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements 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.

Conclusions 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 uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue for a period of at least twelve months from when the financial statements were authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report

6

PakAID

(A Company limited by Guarantee)

Charity Number 1183821

Company Number 11732775

INDEPENDENT AUDITOR’S REPORT (continued) REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2024

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 otherwise 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 misstatements, we are required to determine whether this gives rise to a material misstatement 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 connection 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. 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.

We have nothing 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 directors’ report included within the Trustees’ report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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 following 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 from the requirement to prepare a strategic report.

7

PakAID

(A Company limited by Guarantee)

Charity Number 1183821

Company Number 11732775

INDEPENDENT AUDITOR’S REPORT (continued) FOR THE YEAR ENDED 31[ST] DECEMBER 2024

Responsibilities of trustees

As explained more fully in the Trustees’ Responsibilities Statement, the trustees, who are also directors 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 material misstatement, whether due to fraud or error. In preparing the accounts, the trustees are responsible 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 unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit 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 expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, 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 susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud. The Charity did not inform us of any known, suspected or alleged fraud.

• We obtained an understanding 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 exist in the Charity, including the extent of management bias, which 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 formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment.

8

PakAID

(A Company limited by Guarantee)

Charity Number 1183821 Company Number 11732775

INDEPENDENT AUDITOR’S REPORT (continued) FOR THE YEAR ENDED 31[ST] DECEMBER 2024

The key procedures we undertook to detect irregularities including fraud during the course of the audit included:

• Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual.

• Reviewing 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 significant related party balances and transactions.

• Reviewing 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: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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 them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or 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)

28th October 2025

For and on behalf of Elliot, Woolfe & Rose Audit and Advisory Services LLP. Statutory Auditor Devonshire House, 582 Honeypot Lane, Stanmore, Middlesex HA7 1JS

9

PakAID

(A Company limited by Guarantee)

Charity Number 1183821 Company Number 11732775

STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE

ACCOUNT FOR THE YEAR ENDED 31[ST] DECEMBER 2024

Note INCOME FROM: Donations 2 EXPENDITURE ON: Raising Funds Charitable Activities: Humanitarian response WASH Housing Education Religious dues TOTAL EXPENDITURE 3 NET INCOME/(LOSS) Total Funds brought forward TOTAL FUNDS CARRIED FORWARD 9	Unrestricted Funds Total £ —)))) ) £-—---- —)))) —)))) —)))) —) — —))) —) —)))) )))))) £—))))	Restricted Funds UK Establishment set up costs Fund Other Restricted Funds Total £ Total £ —)))) ) £-—---- 4,379,468 £4,379,468	Restricted Funds UK Establishment set up costs Fund Other Restricted Funds Total £ Total £ —)))) ) £-—---- 4,379,468 £4,379,468	Restricted Funds UK Establishment set up costs Fund Other Restricted Funds Total £ Total £ —)))) ) £-—---- 4,379,468 £4,379,468	Restricted Funds UK Establishment set up costs Fund Other Restricted Funds Total £ Total £ —)))) ) £-—---- 4,379,468 £4,379,468	Restricted Funds UK Establishment set up costs Fund Other Restricted Funds Total £ Total £ —)))) ) £-—---- 4,379,468 £4,379,468			Total 2024 £ 4,379,468			Total 2023 £ 1,393,959)
			£-—----			£4,379,468		£4,379,468			£1,393,959)
			—)))) —)))) —)))) —)) — —))			— 144,590 717,686 242,632 43,401 1,434,486		— 144,590 717,686 242,632 43,401 1,434,486			—)))) —) 1,521,700) — — 1,417,265
			£—))))			£2,582,795		£2,582,795			£1,938,965)
			—)))) )			1,796,673 1,510,506		1,796,673 1,510,506			(545,006) ) ))2,055,512) ))))
			£—)())			£3,307,179		£3,307,179			£1,510,506)

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The Notes on pages 12 to 16 form part of the Financial Statements.

10

PakAID

(A Company limited by Guarantee)

Charity Number 1183821

Company Number 11732775

BALANCE SHEET AS AT 31[ST] DECEMBER 2024

Note FIXED ASSETS Tangible assets 4 CURRENT ASSETS Cash at Bank and In Hand CURRENT LIABILITIES Creditors: amounts falling due within one year 5 Total assets less current liabilities NET ASSETS FUNDS EMPLOYED Unrestricted Funds Restricted Funds Total Charity funds 9	2024 £ 1,293,316 2,019,863 (6,000) 3,307,179 £3,307,179 — 3,307,179 £3,307,179	2023 £ 1,305,898)
		210,608)
		(6,000)
		1,510,506)
		£1,510,506)
		—)))) 1,510,506)
		£1,510,506)

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 28 October 2025 and signed on their behalf by:

Mrs Almas IQBAL Chair of Trustees

11

PakAID

(A Company limited by Guarantee)

Charity Number 1183821

Company Number 11732775

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2024

1. ACCOUNTING POLICIES

Accounting Policies

a) Basis 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 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

b) Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation 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.

c) Going concern

There are no material uncertainties about the charity's ability to continue.

d) Disclosure exemptions

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: (a) No cash flow statement has been presented for the company. (b) Disclosures 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 judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

f) Fund accounting

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 funds or endowment funds.

12

PakAID

(A Company limited by Guarantee)

Charity Number 1183821

Company Number 11732775

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2024

(continued)

1. ACCOUNTING POLICIES (continued)

Taxation

PakAID is a registered charity and not subject to Income or Corporation tax on its Income or Activities provided that resources are expended on the defined Charitable Activities.

Depreciation

The property acquired in earlier years has been depreciated in line with recommended rates for buildings.

These accounts comply with The Charities SORP FRS 102.

2. INCOMING RESOURCES

Donations Voluntary Income Grants Individual Grants		Unrestricted Funds £ —) — )) —		Restricted Funds £ 4,376,968 2,500 4,379,468	Total 2024 £ Total 2023 £ 4,376,968 2,500 4,379,468 1,393,959 —) 11,393,959,
	)

3. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Cost of generating funds Charitable Activities Humanitarian response WASH Housing Education Religious dues Total Charitable Activities		Direct Costs £ —)))) 142,306) 706,349 238,799 42,715 1,411,826 £2,541,995)		Staff Costs £ —)))) —)))) —)))) —)))) —) —) £—))))		Support Costs £ —)))) 2,284 11,337 3,833 686 22,660 £40,800	Total 2024 £ —)))) 144,590 717,686 242,632 43,401 1,434,486 £2,582,795	Total 2023 £ —)))) —) 1,521,700) 417,265) —) —)
								£1,938,965)

All costs are from restricted funds.

13

PakAID

(A Company limited by Guarantee)

Charity Number 1183821

Company Number 11732775

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2024 (continued)

3.1 Staff Costs and Number of Employees

There are no employees; all management functions are carried out by Directors and employees of Al-Khair Foundation (see Legal and Administrative details on page 2).

3.2 Trustees’ Remuneration and Donations

The Trustees received no Remuneration, Expenses or Benefits. No indemnity insurance is paid for the Trustees.

3.3 Analysis of governance and support costs 2024 2023 £ £ Governance cost Audit fee 6,000 6,000 Accountancy fees 3,600 3,600 9,600 9,600 Support costs Bank charge 258 248 Office expenses 18,360 9,531 Depreciation 12,582 12,582 31,200 22,361 £40,800 £31,961

14

PakAID

(A Company limited by Guarantee)

Charity Number 1183821 Company Number 11732775

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2024

(continued)

4. TANGIBLE FIXED ASSETS

Cost As at 1 January 2024 Additions Release As at 31 December 2024 Depreciation As at 1 January 2024 Charge for the year Release As at 31 December 2024 Net book values As at 31 December 2024 As at 31 December 2023		Freehold Land 98,005) —)))) —)))) £98,005 —)))) —)))) —)))) £—)))) £98,005) ) £98,005)

£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 its ongoing operations. The purchase was completed in March 2020 and £1,500,000 was transferred to ‘Restricted Funds U.K. Establishment set up costs’, and from this fund, the costs of the freehold and other associated costs were taken.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Audit fee		2024 £ 6,000)	2023 £ 6,000)

6. CAPITAL EXPENDITURE

There were no capital and refurbishment commitments at 31[st] December 2024.

7. CONTINGENT LIABILITIES

There were no contingent liabilities at 31[st] December 2024.

15

PakAID

(A Company limited by Guarantee)

Charity Number 1183821

Company Number 11732775

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2024 (continued)

8. RELATED PARTY TRANSACTIONS

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 running of the Charity. During the year, donations were received from Al-Khair Foundation of £4,376,968. (2023 - £1,393,959).

9. MOVEMENT OF RESTRICTED FUNDS

Income —)))) —)))) — 2,500) 3,087,693 1,082,791 189,441 17,043 £4,379,468	Expenditure —)))) —)))) (144,590) (717,686) (1,434,486) (242,632) (43,401) ()43( 43,4012(3() £(2,582,795)		Transfers and Reallocation —) (12,582) 144,590 (2,500) (560,752) 351,695 53,191 26,358 £—)))))		Balance at 31stDecember
					2024 54,361 1,293,316 — — 1,959,502 — — —) £3,307,179

10.

ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets Cash at Bank Creditors		Unrestricted £ —)))) —)))) —)))) —))))	Restricted £ 1,293,316 2,019,863 (6,000) £3,307,179	Total 2024 £ 1,293,316 2,019,863 (6,000) £3,307,179		Total 2023 £ 1,305,898) 210,608) (6,000)
						£1,510,506)

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