Charfty r•gistratlon nvmbor 1184452 Company r*glstrntion nuinb¥i 11493090 iengland ana W41gsI FAZILAT FOUNDATION UK ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FAZILAT FOUNDATION UK LEGAL AND ADMINISTRATIVE INFORMATION Trustees Dr M Q Shiekh OrJAhrnad Mr M Ahmad Charity numbgr 1184452 Company numh&r 11493090 offlG New ￿TOOK House 385 Alfrèlon Road Nottingham United Kingdom NG7 SLR Ind•p•nd¢nt examln•r Azets 2 Regan Way Chefvlynd 8u5iness Park Chilwell Nottingham United ￿ngdoM NG9 6RZ FAZILAT FOUNDATION UK CONTENTS Page Trustoe's r8POrt Independent &YAminprfs report Slalernenl of financial adivilies B8lance sheet Notes to the finanual statements FAZILAT FOUNDATION UK TRUSTEE'S REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trusteos present their annual report and finandal statements for the year ended 31 March 2024. Th8 finaneial 5talomènts have be8n PT8parèd in accordanc8 wlh the accounting policies set out in note 1 to the financial slalernents and comply with the charity'5 goveming document. the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recornmended Practice applicable to charities preparing their accounts in accordance with the Finanoal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191" Objectives and a¢tlvlti&s The obj•etive of the charity IB thc prcvontion or relief of poverty OT financial hardsliip iii Nvlliiiyharn and the surrounding area. The trusl88s have paid due regard to ouidance issued by the Ch8rity Commission in d8cid¥ng what activib8s tho charity should undertake. The rnain activitiès of the charity are lo provide food, essents'al toiletries and household items to indlviduals or families in neèd. This may indud$ working alongsid8 other charities and OTganisations with similar aims. Achigvemonts and perfornMn¢• Flnanei#l reviow It is the policy of the charity that unrestri¢led funds which have not been deslgnaled foT a specrfic use should be m61ntained al a le¥¥1 ¥gUiVr indcpcnd$nt exemination, I report in re5peGI of my ¥XdlTTinatiun of the charrty's financial stslements carried out under section 145 of the Charities Act 2011 Ilhe 2011 Act). In carrying out my exarnination I have followed all the applicable Directions glvgn by the Charfty Commission under section 14515llbl of the 2011 Aet. Independent gxamrnerfs statgm•nt I have completed my examination. I confimi that no matter5 have comè to my attention in conn8ct¥on with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act., or the financial statements iio not accord w((h those records,. or the financial staternents dfl nnt comply with the accounting rgquir8mèntG of section 396 01 the 2008 Act other than any ￿quIrernent that the accounts give a true and fair view whid) is not a matter considered a5 part of an independent •xamination', or the finanoal slalements have not been prepa￿d in accordance with the methods and prinrAples of the 8latemei)t vl ReLvilltnende¢J Prauice for accounting ano reporting by charilias applicable lo chaiiti'es preparing thèir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concems and have comg across no other matter5 in connection with the examination to which attention Should bg drawn in this report in order to enable 8 proper undèrstanding of th8 financial statements lo be reachèd. Nicola Bridgemand ACA For and on behalf of 2 Regan Way Chetwynd Business Park Chilwell Nottingham NG9 6RZ United lQngdom Dated.. FAZILAT FOUNDATION UK STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrt¢t•d Unrnstrtctsd funds funds 2024 2023 Incorne fmm: Donations and leoac4e5 87.699 51,696 enditurn an- Charitable actiwlies 63.162 16.548 Net in¢ome for the y•arf Nèt movement in funds 24,537 35,148 Fund balances at 1 April 2023 89.810 54.662 Fund balancgs at 31 March 2024 114.347 89,810 The statement of financ¢al actiwties indudes all gain$ and losses recognised in the year. All ineL)me and expenditure derive from continuing actiwiies. Th& stat•m#nt of financial activiti¢B alBO Complic$ with the requirem&nt8 for an inGome and expenditure a9￿ul)I under the Companies Act 20(A. FAZILAT FOUNDATION UK BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Current a55ets Debtors Cash at bank and in hand 16.799 98.508 10.80D 79.970 115,307 90,770 reditorn: amounts falllng due wtthln one year 10 19601 1960} Nel Current assets 114,347 89,810 Income funds Unrestricted funds 114,347 89,810 114.347 The company is gnlilled lo the exemption from the audit requirement contained in section 477 of the Companies Act 2006. for tne year ended 31 Marcn 2U24. The directors acknowledge their responsibilities for complying wkh the requirements of the Cornpanies Act 2006 with respect to ae¢ounting records and the preparation of finan¢?al stBtement3. The members have not ￿qUIred the company to obtain an audit of ils finanrAal stat8ments for the year in question in accordance wth section 476. These financial statèrTtenls have been prepared in accordanc£ with the provisions applicable to companiès subje¢A lo the small companies regime. The financial statements were approved by the Twstee5 on ....... ... Dr M O Shiekh Trustee Company registration number 11493090 FAZILAT FOUNDATION UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcies CharSty Infomiation Fazilal Foundation UK is a private company limited by guarantee inGorporated in England and Wales. Th8 registered Offi￿ is New Brook Hou¥¥. 385 AIfrEtDn Road, Nottlngham. NG7 5LR, Unr(9d ￿n900m. 1.1 A¢counting conv•ntion The financial st3tÈments hav• b••n pr*pared in accordancc with the tsh8rity's Igoveming doGumentl, the Companies Act 2006, FRS 102 Yhe Finanual Repo￿.ng Standard applicable in the UK and Republic of Ireland. l°FRS 102.1 and the Charities QORP "Accounting and R¥puiliiiy by Charftles.. Staiem8nt Of Recommended Prath'ce applicable to charities preparing their accounts in accordance wf(h the Finan￿al Roporting Standard applicable in the UK and Republlc of I￿land IFRS 1021" (effective 1 January 2019). The charity is a Public Bènefit Entity as defined by FRS 102. Tha eharity ha5 taken advantage of the provisions in tha SORP for charitigs not lo prepare a Statement of Gash Flows. The financial slalements arg prepared in 51grfing, which is the functional curr9ncy of the charty. Monetary amoLtnt8 in these financAal statements are IE) the n8are5t £. The financial statements have been prepared under the historical cost convention, Imodified lo indude the revaluation of freehold pmperties and tn inrliide investm@nt properties 2nd e•rtain finan￿al instrurnents at fair valuel. Th& principal accounting policies adopted are set out below. 1.2 Going concom Al the time of approving the financial 5ts1ements. the Iruslees havg a ￿aSOnable expe¢t8tion that the charity has adequate resources to continua in operational exi5t8nce for the fores8eBble future. Thus the trustegs continuè to adopt the going eoncern basis of accounting in praparing the financial statements. 1.3 Charftable funds Un￿51￿cted funds a￿ available for use at the discretion of the trustees in furtherance of thèir charitable objectives. ReBtriGtcd fund- rg subject to tspecthG Gonditions by donvr5 as lo how III¥y fiiay be U5e(f. The purposes ano uses of the restricted fvnds are sel out in the notes ID the financial slalements. Endowment ffiJnds are subject to speafic (fjnditions by drjnrjrs that tho capital must b• maintainod by tho charity. 1.4 Income Income is r8cognised when thè charrty is legally entitled to it afteT any performanca conditions have bèen met, the amounts can be measured reliably, and il is probable that income will be received. Cash donations are recognisèd on receipt. Other donations arè rècognised onc8 the chafity ha5 been notified of thè donation. unless perfomiance eondrf(ions require deferral of the amount. Income lax recoveTabl8 in ivldliuri lu donations re￿IVed unaer GrttAid or deeas ot covenant is recognised al the lime of the donation. Legacies are r&cognised on receipt or otherwisè if the charity has been notified of an impending distribution, the amount i& knnwn. and ￿e￿iPt is •xp•ct•d. If th8 amount is not known, the legacy 13 treated as a conts'ngent asseL FAZILAT FOUNDATION UK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ounting pollclo$ Icontinuedl 1.5 Exp•ndlturg Expenditure 15 recognised once there 1$ a legal or constructive obligats'on to transfer economic benefft lo thlTd party, rtls probaDle mat a transfer of economic benefit5 will be ￿quired in setUemen( and the amount of the obligation can be measured ￿lIablY. ExpendiluT9 1$ classified by actiwty. The costs of eath actiwty are mad8 up of the total nf rtirg.et Costs and shared costs, including support C051s involved in undertaking each activty. Direct costs attributable lo a single actiwty ara allotAted dir&ctly tn thAt activity. Shsrod costs which tontribute to mort than one activity ond support Costs which are not attributable to a single activity are apportioned between those activities on a basis consistent wrth the use of rasources. Central staff costs are allocat¢d on the basis of lime spent, and depreciation charges are allocatèd on the portion of Ihtr asset's use. Support co318 are those function5 that assist the Charity but do not direcuy undertake tharitable activiuès. The bases on which support and govemance costs are allocated are set out in note 6. 1.6 Cash and cash equivalents Cash ano casn equivalenis Include cash in hand. deposits held at call with banks, other short-lerm liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts ar8 shown wrf£hin borrowings in current liabililias. 1.7 Financlal In$truments The Ehartty has eleued to apply the prowsions of bethon 11 '6asi¢ Financsal Instruments. and Section 12 'Other FinanrAal Instrumenls155ues' of FRS 102 to sll of its finanaal instruments. Financial instruments arè Tecognised in thè tharivs balance shèèt when the charity becomes party to the contractual provisions of the instrument. Finan&al assets and liabilibes ar8 offset, with the n81 amounts presented in the finanaal st*ements, when there is a lègally enIor￿able right to set off the recognis8d amounts and there is an intenb.on lo settle on a net basis or lo realise the asset and setue the liability simultaneously. Basic financlal assets Ba51c financial asse15, which include debtors alld cash and bank balance5, are initially measured al transaction pricE> inrliidino transaction costs and aro subsoqu8ntly carried at amtsrtiscd co- -t U￿Ing the effectiv& interest method unless the arTangemenl conslilules a financing transaction, where the transaction 15 moasurad at thè present valuc ol the fijture receipts di¥Gounted at a market rate of iiil¥i&st. FiriunGial issets dassffied as receivable within one year are not arnortised. Baslc finan¢ial Ilabllitl•s Basic finanrjal liabilities, including crèditors and bank loans are initially recognised al transaction price unless thé arrangemènt constitutes a finaneing transaction. where th8 debt instrutn8llt is rneasured at the present valuè of the future paym&nt5 discounted at g market rate of interest. Financial liabilities ctassified as payable within one year are not amortised. Debt instrum$iils die 5ubs8quently carrfed ai amoniseu cosi, using tne effective Interest rale method. Traae creditors are Obligations to pay lor goods or servicès that have been acquired in the ordinary (￿urSe of operations from suppliers. Arnounts payable are classified as curr8nl liabilities if payment is due within one yèar or less. If not, they are presènted as non-currenl liabilities. Trade creditors ara recogni5ed In￿allY al transaction pric8 and 5ubseouently rneasured at amortised cost using the effectiv@ intÉ>rp_4t mpthod. Dorncognillon of finan¢lalllabllltlts Financial liabilities are derecognisèd when thè charity's contradual obligations expire or are discharg8d or cance118d. FAZILAT FOUNDATION UK NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounttng poll¢l•s IContinu9dl 1.8 Employeè b•n8fits The cost of any unused holiday entiuement is reojgnised in the period in which the employaè's 8eNces arg recglved. Termination bènefits are recognised irnrnediately as an expense when the charity is demon31rably committed lo temiinale the employment of an ernployee OT to prowde terniination bongfitq. Cviti¢al Accountlng •¥timat•s and In the applic£lion of the charws accounting polia&s, the trustees are required lo make judgements, estimates and assumptions abovt the carrying amount of ass&ts li3bilities that are not readily apparent from other sources. The estimates and associated assumptions 8re based on historical experience and other factors that are (x)nsidered to be relevant. Actual rasulls may drff8rfrom these estimat&s. The estimates and underlying assurnptions are re￿eWed on an ongoing basis. Revisions to 8ccounlng estimate5 are recogniséd in the period in which the estimate is revised where the revision affects only that pèriod. or in the period of the rewsion and fvture peTlo(Js Whtr￿ the rewsion affects both curfent and future periods. Donations and 1guatlÈ8 Unrnstrictsd Unrestricted fundA fund 2024 2023 Don*ions and gift5 87.699 51.696 Charitabl8 actJvlti•s Roll*f of Pov9rty 2024 Reliel of Povgrty 2023 Provselon of food and supplie8 15,341 Shar8 of support costslsee note Sl Share of gov8rnance costs (see note 51 467 1.140 87 1,140 63.182 16,548 FAZILAT FOUNDATION UK NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support eo$ts Support Governanc costs eosts 2024Support ￿$13 Govemance costs 2023 Sundry Printing 67 400 67 67 4(KJ Accountancy 1.140 1,140 1,140 1,140 467 1,140 1,607 67 1,140 1,207 Analysed be￿een Charitable activities 1,140 1.607 67 1,140 1,207 Trustses None of the trustees lor any persons connected wth them) Teceived any remuneration or bonefts from thè charity dsjring the y8ai. Employegs Ther8 were O employees during the year Taxatlon The charity is exempl from tax on Income and gains falling within section 505 of the Tax8s Act 1988 or sedlon 252 of the Taxationof Chargeable Gain5 Act 1992 to the exlenl Ihal these are applied to its charitable objecis. Dèbtors 2024 2023 Afflounts falllng due withln one yèar. Other debtors Prepayrnenls and accrugd income 16.769 30 10.200 600 16.799 10,800 10 Credltors.. 4mounts falllng du? withln onè y•ar 2024 2023 Accruals and deferred incomg 960 11 Relatsd party transactlons There were no disclosable related party tran￿￿￿10n3 during the ye8T {2023- none).