HasanaH Annual report and financial statements Year ended 31 March 2021 Company no 11269974 Charity no 1184628 Anty Nash AccDunting&
Contents
Annual report and financial statements Year ended 31 March 2021
HasanaH
Contents
| Legal & administrative information | 2 |
|---|---|
| Trustees’ annual report | 3 |
| Independent examiner’s report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 |
Registered company no 11269974 Registered charity no 1184628
1
Legal & administrative details
HasanaH
Annual report and financial statements Year ended 31 March 2021
Legal & administrative information
| Charity name | HasanaH | |
|---|---|---|
| Charity registration no. | 1184628 | |
| Company registration no. | 11269974 | |
| Registered office | 4 Old Park Lane | |
| London | ||
| W1K 1QW | ||
| Trustees | Jeremy Carver CBE | Chair |
| Badr Jafar | ||
| Dr Syed Zaki Hassan | ||
| Independent examiner | Andy Nash Accounting & Consultancy Ltd | |
| Units 24 & 25 | ||
| Goodsheds Container Village | ||
| Hood Road | ||
| Barry | ||
| CF62 5QU | ||
| Principal bankers | Barclays Bank plc | |
| 1 Churchill Place | ||
| London | ||
| E14 5HP |
Registered company no 11269974 Registered charity no 1184628
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Trustees’ annual report
HasanaH Annual report and financial statements Year ended 31 March 2021
Trustees’ annual report
The Board of Trustees, who are also Directors of the Charity for the purposes of the Companies Act, and Trustees for charity law purposes, submit their annual report and the financial statements of HasanaH for the year ended 31 March 2021. The Board of Trustees confirms that the annual report and financial statements of the Charity comply with current statutory requirements, including the Charity Act 2011, as well as the requirements of the Charity's governing document and the provisions of 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) second edition (effective 1 January 2019)’, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006.
Objectives and activities
Objects
The objects of the Charity, as set out in its Memorandum of Association, are:
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to further such exclusively charitable purposes according to the law of England and Wales as the Trustees in their absolute discretion from time to time determine particularly but not exclusively by providing or assisting in the provision of resources, facilities and equipment; and,
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the promotion of the efficiency and effectiveness of charities including charitable religious and community organisations.
Activities
The HasanaH Platform was developed as a techenabled solution to the central challenge of Islamic philanthropy; namely to ensure that donors can seamlessly support global charitable causes in a fully accountable and transparent manner. This was not envisaged to be a rapid or straightforward journey given the scale of what was envisaged and the requirement to disrupt existing patterns of giving, in place for many generations.
The vision of the founders of HasanaH was Platformadoption through a new generation of socially aware and technically sophisticated donors in the Muslim world and elsewhere for whom HasanaH would grow to become a preferred philanthropic solution through the strength of its credibility and impact.
Following two years of research and partnership development, HasanaH was successfully released as a Private BETA Platform during May 2020. The initial roll-
out has targeted demographics representative of the global Muslim community in Indonesia, Pakistan, India, Egypt, Turkey, Saudi Arabia, Malaysia, the United Arab Emirates, the United Kingdom, and the United States of America.
Achievements and performance for 2020-21
As a result of ongoing technical development, the HasanaH platform today enables donors to contribute across 14 charitable causes.
Key capabilities of the Platform include real-time global needs map, Sustainable Development Goals integration, user on-line and off-line giving dashboard and impact tracker, Zakat goal calculator and tracker, multi-language capability (English, Bahasa, Arabic, Malay, Turkish, Spanish, French and Urdu), individual fundraiser capability and matching and referral incentives.
Thanks to the commitment and cooperation of HasanaH’s partners and collaborators, in addition to the active participation of leaders in the humanitarian and development fields, more than 5,000 campaigns from across 140 countries are now on-boarded onto the digital platform. The blue-chip beneficiary organisation list on HasanaH includes UNHCR, UNRWA, SOS, IRC, the End Fund, Mercy Corps, Malala Fund and International Medical Corps.
In February 2021, HasanaH was privileged to be a winner of the Reimagine Charitable Giving award from the Bill & Melinda Gates Foundation. In July 2021, the Platform was highlighted by Stanford Social Innovation Review Arabia as a leading digital giving platform in the Arab world. In October 2021, HasanaH was chosen by the Crown Prince Court in Abu Dhabi to be its global crowdfunding platform for Reaching the Last Mile Fund.
Plans for 2021-22
Further developments are being planned in line with the initial blueprint vision for HasanaH, including the capability for donor and beneficiaries to be able to communicate with each other directly on the Platform.
Looking ahead, HasanaH is gradually phasing out from its Private BETA Platform towards an optimal model to realise its intended impact. This will require further rigor into donor discovery and retention, market testing and validation of assumptions, and several B2C, and B2B offerings are being developed for this purpose.
Financial Review
During the current financial year the Charity achieved a surplus of £9,009 (2020: £377,084), resulting in total reserves at year end of £386,093 (2020: £377,084) of which £385,622 (2020: £377,084) were unrestricted as
Registered company no 11269974 Registered charity no 1184628
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Trustees’ annual report
Annual report and financial statements Year ended 31 March 2021
HasanaH
to use, although £374,421 (2020: £373,023) of these reserves relate to intangible assets, with £11,201 (2020: £4,061) as readily realisable net assets.
security, financial and legal compliance, and ensuring that the operational processes are sustainable and scalable in line with HasanaH’s projected growth.
Reserves Policy
As the platform is currently in development phase the Trustees have no formal reserves policy as there are no committed ongoing costs – this will be reviewed in 2021/22.
Structure, Governance and Management
Governing Document
HasanaH is registered under the Companies Act 2006 as a company limited by guarantee and not having a share capital. It was incorporated as of 22 March 2018.
HasanaH became a registered charitable company as constituted as of the 26 July 2019.
The charitable company is governed under its Memorandum and Articles of Association.
The charity registration number is 1184628 (England and Wales) and the company registration number is 11269974 (England and Wales).
Recruitment and Appointment of Trustees
The Trustees are also the directors of HasanaH for the purpose of company law. HasanaH Articles of Association require a minimum of three trustees and a maximum number of twelve.
A Trustee must retire after three years, and will be eligible for re-election subject to an overall limit of nine years. Only the current directors can appoint new directors.
Organisational structure
The Trustees are responsible for the overall financial control, direction and work of the Charity. They will meet at least three times a year.
Risk management
The Trustees are aware of the risks in launching a charitable digital platform in a challenging global environment. Nevertheless, the significant potential of HasanaH to help make progress towards some of the big issues affecting the planet, including those adopted under the UN’s Strategic Development Goals, is compelling and drives progress in this initiative. A significant current risk is the spread of COVID-19, which is disrupting the operations of our international partners, worsening humanitarian conditions and relief and affecting patterns of global giving. The pandemic has forced people to stay at home and connect more closely to local rather than global issues. Business risks that are being carefully monitored include data
Statement of Board of Trustees’ Responsibilities
The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations. Company law requires the Trustees to prepare financial statements for each financial year. Under that law they are required to prepare the financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the excess of income over expenditure for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and,
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue its activities.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. In addition, the Trustees confirm that they are happy that content of the annual review, including the legal and administrative information, in pages 3 to 5 of this document meet the requirements of both the Trustees’
Registered company no 11269974 Registered charity no 1184628
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Trustees’ annual report
HasanaH
Annual report and financial statements Year ended 31 March 2021
Annual Report under charity law and the Directors’ Report under company law.
They also confirm that the financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.
Preparation of the report
This report has been prepared taking advantage of the small companies exemption of section 415A of the Companies Act 2006.
Independent Examiners
The independent examiners, Andy Nash Accounting & Consultancy Ltd, have indicated their willingness to accept re-appointment under Section 485 of the Companies Act 2006.
This report was approved and authorised for issue by the Board of Trustees on 26 January 2022 and signed on its behalf by:
Jeremy P Carver
Jeremy Carver CBE Chair of Trustees
Registered company no 11269974 Registered charity no 1184628
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Independent examiner’s report
HasanaH Annual report and financial statements Year ended 31 March 2021
Independent examiner’s report to the board of trustees of HasanaH
I report to the Trustees on my examination of the accounts of HasanaH (charity number 1184628 – England & Wales, company number 11269974) for the year ended 31 March 2021 which are set out on pages 7 to 16.
Respective responsibilities of trustees and examiner
The Trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). The Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (‘the 2011 Act’) nor under Part 16 of the 2006 Act, and that an independent examination is needed.
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and,
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to state whether particular matters have come to my attention.
This report, including my statement, has been prepared for and only for the Charity’s Trustees as a body. My work has been undertaken so that I might state to the Charity’s Trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees as a body for my examination work, for this report, or for the statements I have made.
Basis of independent examiner’s statement
My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Trustees concerning any such matters.
is limited to those matters set out in the statement below.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or,
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the accounts do not accord with those records; or,
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or,
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Andrew Philip Nash ACA
Member of the Institute of Chartered Accountants in England and Wales – 2461833
Dated: 27 January 2022
Andy Nash Accounting & Consultancy Ltd Units 24 & 25 Goodsheds Container Village Hood Road Barry CF62 5QU
The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report
Registered company no 11269974 Registered charity no 1184628
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Statement of financial activities
HasanaH Annual report and financial statements Year ended 31 March 2021
Statement of financial activities
Incorporating the income & expenditure account and the statement of recognised gains & losses For the year ended 31 March 2021
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Unrestricted Restricted Total Total
funds funds funds funds
Year ended Year ended Year ended Year ended
31 Mar 2021 31 Mar 2021 31 Mar 2021 31 Mar 2020
Notes £ £ £ £
Income from:
Donations and legacies 3 86,971 1,815 88,786 378,223
Total income 86,971 1,815 88,786 378,223
Expenditure on:
Charitable activities 4 78,433 1,344 79,777 1,139
Total expenditure 78,433 1,344 79,777 1,139
Net income/(expenditure) 8,538 471 9,009 377,084
Reconciliation of funds:
Total funds brought forward 7 & 8 377,084 - 377,084 -
Total funds carried forward 7 & 8 385,622 471 386,093 377,084
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The notes on pages 9 to 16 form part of the financial statements.
Registered company no 11269974 Registered charity no 1184628
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Balance sheet
HasanaH Annual report and financial statements Year ended 31 March 2021
Balance sheet
As at 31 March 2021
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Total Total
funds funds
31 Mar 2021 31 Mar 2020
Notes £ £ £ £
Fixed assets:
Intangible assets 5 374,421 373,023
Current assets:
Prepayments 263 0
Cash at bank and in hand 12,489 5,141
Current assets: 12,752 5,141
Liabilities:
Creditors: amounts falling due
within one year 6 (1,080) (1,080)
Net current assets/(liabilities) 11,672 4,061
Net assets/(liabilities) 386,093 377,084
The funds of the charity:
Restricted funds 471 -
Unrestricted funds
General funds 7 & 8 385,622 377,084
Unrestricted funds 385,622 377,084
Total charity funds 386,093 377,084
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The notes on pages 9 to 16 form part of the financial statements.
The financial statements have been prepared in accordance with section 415A of the Companies Act 2006 relating to small companies and FRS 102 Section 1A.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
The charitable company is entitled to exemption from audit under section 477 of the Companies Act 2006 for the year ended 31 March 2021, and the members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2021 under section 476 of the Companies Act 2006.
They were approved and authorised for issue by the Board of Trustees on 26 January 2022 and signed on their behalf by:
Jeremy P Carver Jeremy Carver CBE
Chair of Trustees
Registered company no 11269974 Registered charity no 1184628
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Notes to the financial statements
HasanaH Annual report and financial statements Year ended 31 March 2021
Notes to the financial statements
1. Accounting policies
Basis of preparation of the financial statements
The financial statements have been prepared in accordance with ‘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) second edition (effective 1 January 2019)’, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The effect of any event relating to the period ended 31 March 2021, which occurred before the date of approval of the financial statements by the Board of Trustees has been included in the financial statements to the extent required to show a true and fair view of the state of affairs at 31 March 2021 and the results for the year ended on that date.
Under the exemption available to smaller charities the Board of Trustees has chosen not to include a Statement of Cash Flows within the financial statements.
The functional currency of the Charity is sterling and amounts in the financial statements are rounded to the nearest pound.
Going concern
The financial statements have been prepared on the going concern basis as the Board of Trustees is confident that future reserves and future income is more than sufficient to meet current commitments. There are no material uncertainties that impact this assessment, and the ongoing global COVID-19 pandemic has had no material impact on this.
Legal status
HasanaH is a charitable company registered in England & Wales and meets the definition of a public benefit entity. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member. The registered address is 4 Old Park Lane, London, W1K 1QW.
Fund Accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise of unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in note 7 of the financial statements.
Restricted funds are funds that are to be used in accordance with specific restrictions imposed by donors or that have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in note 7 of the financial statements.
Income
Income is recognised when the Charity has entitlement to the funds, any performance indicators attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably.
Donations are recognised in full in the Statement of Financial Activities when entitled, receipt is probable and when the amount can be quantified with reasonable accuracy. Gift aid receivable is included when claimable.
Expenditure and irrecoverable VAT
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities.
Indirect costs, including governance costs, which cannot be directly attributed to activities, are allocated directly to charitable activities as this is the focus of all staff time. A breakdown of these expenses is outlined in note 4 of the financial statements.
Irrecoverable VAT is charged against the category of expenditure for which it was incurred.
Donated goods and services
Donated goods and services are recognised on the basis of the value of the gift to the Charity, which is measured as the amount the Charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market. This amount cannot exceed open market fair value.
Intangible fixed assets and depreciation
Intangible fixed assets comprise trademarks and externally purchased brand materials. from the financial statements and have been recognised at cost less amortisation.
Amortisation is provided at rates calculated to write off the cost of intangible assets over their useful life, with amortisation commencing at the point that the platform went live at the end of May 2020.
Registered company no 11269974 Registered charity no 1184628
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Notes to the financial statements
HasanaH
Annual report and financial statements Year ended 31 March 2021
The useful life of the assets are deemed to be:
| Trademarks | 10 years |
|---|---|
| Digital marketing collateral | 3 years |
| Donation platform | 10 years |
All intangible assets will also be subject to an impairment review on an annual basis.
Tangible fixed assets and depreciation
All assets costing more than £1,000 are capitalised.
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their residual value, over their useful life.
There are currently no tangible fixed assets held by the charity.
Cash at bank and in hand
Cash at bank and in hand includes cash in hand, deposits with banks and funds that are readily convertible into cash at, or close to, their carrying values, but are not held for investment purposes.
Creditors and accruals
Creditors are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party, and the amount due to settle the obligation can be measured or estimated reliably.
Financial instruments
Basic financial instruments are measured at amortised cost other than investments which are measured at fair value.
Critical estimates and judgements
In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. The treatment of tangible fixed assets is sensitive to changes in useful economic lives and residual values of assets. In the view of the Trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.
Debtors and prepayments
Trade and other debtors are recognised at the settlement amount after any trade discount is applied. Prepayments are valued at the amount prepaid net of any trade discounts due.
Registered company no 11269974 Registered charity no 1184628
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Notes to the financial statements
Annual report and financial statements Year ended 31 March 2021
HasanaH
2. Comparative statement of financial activities
| 2. Comparative statement of financial activities | 2. Comparative statement of financial activities | ||
|---|---|---|---|
| 3. Income from donations and legacies Unrestricted funds Year ended 31 Mar 2020 Notes £ Income from: Donations and legacies 3 378,223 Total income 378,223 Expenditure on: Charitable activities 4 1,139 Total expenditure 1,139 Net income/(expenditure) 377,084 Reconciliation of funds: Total funds brought forward 7 & 8 - Total funds carried forward 7 & 8 377,084 |
Restricted funds Year ended 31 Mar 2020 £ - - - - - - - |
Total funds Year ended 31 Mar 2020 £ 378,223 378,223 1,139 1,139 377,084 - 377,084 |
|
| Donations Donated goods and services (see note 12) |
Unrestricted funds Year ended 31 Mar 2021 £ 7,216 79,755 86,971 |
Restricted funds Year ended 31 Mar 2021 £ 1,815 - 1,815 |
Total funds Year ended 31 Mar 2021 £ 9,031 79,755 88,786 |
| Unrestricted funds Year ended 31 Mar 2020 £ Donations 5,200 Transfer of intangible assets from company on 26 July 2019 23,023 Donated goods and services (see note 12) 350,000 378,223 |
Restricted funds Year ended 31 Mar 2020 £ - - - - |
Total funds Year ended 31 Mar 2020 £ 5,200 23,023 350,000 378,223 |
Registered company no 11269974 Registered charity no 1184628
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Notes to the financial statements
Annual report and financial statements Year ended 31 March 2021
HasanaH
4. Total expenditure
| 4. Total expenditure | ||
|---|---|---|
| Grants to Global Giving Partnership management Platform maintenance Platform processing fees Amortisation Marketing Governance |
Direct costs Year ended 31 Mar 2021 £ - 20,676 7,770 59 37,602 4,327 7,999 78,433 |
Indirect Total costs costs Year ended Year ended 31 Mar 2021 31 Mar 2021 £ £ 1,344 1,344 - 20,676 - 7,770 - 59 - 37,602 - 4,327 - 7,999 1,344 79,777 |
| Unrestricted funds Year ended 31 Mar 2020 £ Governance 1,139 1,139 |
Restricted Total funds funds Year ended Year ended 31 Mar 2020 31 Mar 2020 £ £ - 1,139 - 1,139 |
Indirect costs, including governance costs, which cannot be directly attributed to activities, are allocated proportionate to total direct costs allocated to each project area.
Governance costs comprise of the following expenses:
| Independent examination Legal support Insurance Bank fees |
Total Total costs costs Year ended Year ended 31 Mar 2021 31 Mar 2020 £ £ 1,080 1,080 5,750 - 889 - 280 59 7,999 1,139 |
|---|---|
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Notes to the financial statements
Annual report and financial statements Year ended 31 March 2021
HasanaH
5. Intangible fixed assets
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Digital
Donation marketing
platform Trademarks collateral Total
£ £ £ £
Cost
At 1 April 2020 350,000 6,221 16,802 373,023
Additions 39,000 - - 39,000
At 31 March 2021 389,000 6,221 16,802 412,023
Accumulated amortisation
- - - -
At 1 April 2020
Charge in year 32,417 518 4,667 37,602
At 31 March 2021 32,417 518 4,667 37,602
Net book value
At 1 April 2020 350,000 6,221 16,802 373,023
At 31 March 2021 356,583 5,703 12,135 374,421
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6. Creditors – amounts falling due within one year
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Year ended Year ended
31 Mar 2021 31 Mar 2020
£ £
Accruals 1,080 1,080
1,080 1,080
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Notes to the financial statements
Annual report and financial statements Year ended 31 March 2021
HasanaH
7. Analysis of charity funds
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Balance Income Expenditure Transfers Balance
brought for the in the between carried
forward period period funds forward
Year ended Year ended Year ended Year ended Year ended
31 Mar 2021 31 Mar 2021 31 Mar 2021 31 Mar 2021 31 Mar 2021
£ £ £ £ £
Unrestricted funds
General fund 377,084 86,971 (78,433) - 385,622
Unrestricted funds 377,084 86,971 (78,433) - 385,622
Restricted funds
Donor funds - 1,815 (1,344) - 471
Unrestricted funds - 1,815 (1,344) - 471
Total funds 377,084 88,786 (79,777) - 386,093
Donor funds
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These are funds donated via the platform for a number of causes and is made up of a large amount of small donations.
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Balance Income Expenditure Transfers Balance
brought for the in the between carried
forward period period funds forward
Year ended Year ended Year ended Year ended Year ended
31 Mar 2020 31 Mar 2020 31 Mar 2020 31 Mar 2020 31 Mar 2020
£ £ £ £ £
Unrestricted funds
General fund - 378,223 (1,139) - 377,084
Unrestricted funds - 378,223 (1,139) - 377,084
Total funds - 378,223 (1,139) - 377,084
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Registered company no 11269974 Registered charity no 1184628
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Notes to the financial statements
Annual report and financial statements Year ended 31 March 2021
HasanaH
8. Analysis of net assets
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Unrestricted Restricted Total
funds funds funds
Year ended Year ended Year ended
31 Mar 2021 31 Mar 2021 31 Mar 2021
£ £ £
Intangible fixed assets 374,421 - 374,421
Current assets 12,281 471 12,752
Current libilities (1,080) - (1,080)
385,622 471 386,093
Unrestricted Restricted Total
funds funds funds
Year ended Year ended Year ended
31 Mar 2020 31 Mar 2020 31 Mar 2020
£ £ £
-
Intangible fixed assets 373,023 373,023
Current assets 5,141 - 5,141
Current libilities (1,080) - (1,080)
377,084 - 377,084
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9. Other financial commitments
At 31 March 2021, the Charity had no other financial commitments or contingent liabilities.
10. Trustee remuneration
During the year, no Trustee received any remuneration. No members of the Board of Trustees received reimbursement of expenses related to attendance at trustee meetings.
11. Related party transactions
During the current financial year, HasanaH received donated services equivalent to £74,005 (2020: £350,000) as per note 12 below from Crescent Consumer Holding. One of the trustees, Badr Jafar, is the Chief Executive Officer of Crescent Enterprises of which Crescent Consumer Holding is a wholly owned subsidiary.
Registered company no 11269974 Registered charity no 1184628
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Notes to the financial statements
Annual report and financial statements Year ended 31 March 2021
HasanaH
12. Donated goods and services
During the current financial year, the charity was supported by Crescent Consumer Holding who provided, via a pro-bono service agreement, the following services for the charity. The income is reflected in note 3.
In addition, the Charity received pro-bono legal advice on a number of issues from Gibson, Dunn & Crutcher LLP.
The total donated goods and services is represented as follows:
In line with the service agreement, HasanaH retains all intellectual property rights and ownership of the donation platform moving forward, and Crescent Consumer Holding has irrevocably assigned those rights to HasanaH.
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Year ended Year ended
31 Mar 2021 31 Mar 2020
£ £
Donation towards HasanaH platform development 39,000 350,000
-
Platform partnership and maintenance 28,446
-
Marketing 4,327
-
Independent examination 1,080
Insurance 1,152 -
Support from Crescent Consumer Holding 74,005 350,000
-
Legal support 5,750
79,755 350,000
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Registered company no 11269974 Registered charity no 1184628
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