Trustees' Annual Report for the period
Period start date Period end date 01 July 2022 30 June 2023
From
To
Section A Reference and administration details
Charity name The Maidenway-Khalique Foundation Other names charity is known by Registered charity number (if any) 1184363 Charity's principal address 175a Hoe Street
Walthamstow London Postcode E17 3AP
Names of the charity trustees who manage the charity
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Dates acted if not for whole Name of person (or body) entitled
Trustee name Office (if any)
year to appoint trustee (if any)
1 Arsalan Khalique
Armaghan
2
Khalique
3 Salman Khalique
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
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Names of the trustees for the charity, if any, (for example, any custodian trustees)
Name Dates acted if not for whole year
March 2012
TAR
1
Names and addresses of advisers (Optional information)
| Type of adviser | Name | Address |
|---|---|---|
| Name of chief executive or names of senior staff members (Optional information) |
Section B Structure, governance and management
Description of the charity’s trusts
Type of governing document
CIO-Foundation constitution
- (eg. trust deed, constitution)
How the charity is constituted
CIO
- (eg. trust, association, company)
Trustee selection methods
Appointed
- (eg. appointed by, elected by)
Additional governance issues (Optional information)
You may choose to include additional information, where relevant, about:
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policies and procedures adopted for the induction and training of trustees;
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the charity’s organisational structure and any wider network with which the charity works;
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relationship with any related parties;
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trustees’ consideration of major risks and the system and procedures to manage them.
Section C Objectives and activities
Summary of the objects of the charity set out in its governing document
TO ADVANCE SUCH CHARITABLE PURPOSES (ACCORDING TO THE LAW OF ENGLAND AND WALES) AS THE TRUSTEES SEE FIT FROM TIME TO TIME IN THE UK AND PAKISTAN, AND IN EACH CASE FOR THE PUBLIC BENEFIT, IN PARTICULAR BUT NOT LIMITED TO ADVANCING EDUCATION, THE RELIEF OF SICKNESS AND PROTECTION OF HEALTH, AND THE PREVENTION AND RELIEF OF POVERTY.
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Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)
Additional details of objectives and activities (Optional information)
You may choose to include further statements, where relevant, about:
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policy on grantmaking;
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policy programme related investment;
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contribution made by volunteers.
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Section D Achievements and performance
Summary of the main achievements of the charity during the year
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Section E Financial review
Brief statement of the charity’s policy on reserves
Details of any funds materially in deficit
We make sure that we have sufficient funds to meet ongoing financial commitments.
Further financial review details (Optional information)
You may choose to include additional information, where relevant about:
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the charity’s principal sources of funds (including any fundraising);
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how expenditure has supported the key objectives of the charity;
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investment policy and objectives including any ethical investment policy adopted.
Section F Other optional information
Section G Declaration
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s)
Full name(s) Arsalan Khalique
Position (eg Secretary, Chair, Trustee etc)
Date 22nd April 2024
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REGISTERED COMPANY NUMBER: CE018165 (England and Wales) REGISTERED CHARITY NUMBER: 1184363
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 June 2023
for
- The Maidenway Khalique Foundation
HKL Accountants Limited 45 Cheriton Avenue Clayhall Essex IG5 0QL
- The Maidenway Khalique Foundation
Contents of the Financial Statements for the Year Ended 30 June 2023
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Statement of Financial Activities | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 4 to 7 |
| Detailed Statement of Financial Activities | 8 |
- The Maidenway Khalique Foundation
Report of the Trustees
for the Year Ended 30 June 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2023. The trustees have adopted the provisions of 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 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
CE018165 (England and Wales)
Registered Charity number
1184363
Registered office
175a hoe Street Walthamstow London E17 3AP
Trustees
A Khalique S Khalique A Khalique
Company Secretary
Approved by order of the board of trustees on 22 April 2024 and signed on its behalf by:
A Khalique - Trustee
Page 1
- The Maidenway Khalique Foundation
Statement of Financial Activities for the Year Ended 30 June 2023
| Notes EXPENDITURE ON Charitable activities Donations Bank Charges Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
30.6.23 Unrestricted funds £ 80,000 569 80,569 (95,728) (176,297) 974,456 798,159 |
30.6.22 Total funds £ - 544 544 - (544) 975,000 974,456 |
|---|---|---|
The notes form part of these financial statements
Page 2
- The Maidenway Khalique Foundation
Balance Sheet
30 June 2023
| Notes CURRENT ASSETS Investments 4 Cash at bank NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 5 Unrestricted funds TOTAL FUNDS |
30.6.23 Unrestricted funds £ 300,899 497,260 798,159 798,159 798,159 798,159 798,159 798,159 |
30.6.22 Total funds £ 601,799 372,657 |
|---|---|---|
| 974,456 | ||
| 974,456 | ||
| 974,456 | ||
| 974,456 | ||
| 974,456 | ||
| 974,456 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 22 April 2024 and were signed on its behalf by:
A Khalique - Trustee
The notes form part of these financial statements
Page 3
- The Maidenway Khalique Foundation
Notes to the Financial Statements for the Year Ended 30 June 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
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 2019)', 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.
Expenditure
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 year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2023 nor for the year ended 30 June 2022.
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- The Maidenway Khalique Foundation
Notes to the Financial Statements - continued for the Year Ended 30 June 2023
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| EXPENDITURE ON Charitable activities Bank Charges NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 4. CURRENT ASSET INVESTMENTS Listed investments 5. MOVEMENT IN FUNDS At 1.7.22 £ Unrestricted funds General fund 974,456 TOTAL FUNDS 974,456 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund - (80,569) TOTAL FUNDS - (80,569) |
30.6.23 £ 300,899 |
Unrestricte funds £ 544 (544) 975,000 974,456 30.6.22 £ 601,799 |
|
|---|---|---|---|
| Net movement in funds £ (176,297) (176,297) Gains and losses £ (95,728) (95,728) |
|||
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- The Maidenway Khalique Foundation
Notes to the Financial Statements - continued for the Year Ended 30 June 2023
5. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.7.21 £ 975,000 975,000 |
Net movement in funds £ (544) (544) |
At 30.6.22 £ 974,456 |
|---|---|---|---|
| 974,456 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Incoming | Resources | Movement | |
|---|---|---|---|---|
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | - | (544) | (544) | |
| TOTAL FUNDS | - | (544) | (544) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.7.21 £ 975,000 975,000 |
Net movement in funds £ (176,841) (176,841) |
At 30.6.23 £ 798,159 |
|---|---|---|---|
| 798,159 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming Resources Gains and Movement resources expended losses in funds £ £ £ £ - (81,113) (95,728) (176,841) - (81,113) (95,728) (176,841) |
|---|---|
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- The Maidenway Khalique Foundation
for the Year Ended 30 June 2023
Notes to the Financial Statements - continued
6. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2023.
Page 7
- The Maidenway Khalique Foundation
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 30 June 2023 | ||
| 30.6.23 | 30.6.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Total incoming resources | - | - |
| EXPENDITURE | ||
| Charitable activities | ||
| Grants to institutions | 80,000 | - |
| Support costs | ||
| Finance | ||
| Bank charges | 569 | 544 |
| Total resources expended | 80,569 | 544 |
| Net expenditure before gains and | ||
| losses | (80,569) | (544) |
| Realised recognised gains and losses | ||
| Realised gains/(losses) on fixed asset | ||
| investments | (95,728) | - |
| Net expenditure | (176,297) | (544) |
This page does not form part of the statutory financial statements
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