REGISTERED COMPANY NUMBER: CE019166 (England and Wales)
REGISTERED CHARITY NUMBER: 1185768
Report of thg Trustees and
AudSted Financlal Statements
for the Year Ended 31 December 2023
for
Balqees Welfare Foundatlon
(Charitable Incorporated Organisatlonl
Alderton Accountancy Limited, Slalulory Auditor
Chartered Certified Ac¢ountsnls
Registered Auditors
962 Eastern Avenue
Newbury Park
Ilford
Essex
IG2 7JD

Balqees Welfare Foundatlon
{Charltable In¢orporated Organisatlon)
Contents of the Financial Statemenls
for the Year Ended 31 December 2023
Page
Report of tho Trustees
Report of the Independent Audltors
9 10 10
Statement of Financial Activities
Balance Sheet
12
Cash Flow Statement
Notes to the Cash Flow Statemgnt
14
Notes to the Financial Statgmgnls
15 10 20
Detailed Statomont of Flnanclal Activitlgs
21

Balqees Welfare Foundatlon
(Charitable Incorporated Organisationl
Report of the Trustees
for the Year Ended 31 December 2023
The Iruslees who are also directors of the charity for the purposes of the Companies Acl 2006, present their
roporl wilh the financial slalemenls of Ihe charity for the year ended 31 December 2023. The Iruslees have
adopted the provisions of Accounting and Reporling by Charities.. Slalemenl of Recommended Practice
applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 102) leffeclive 1 January 20191.
Balqees Welfare FoLJndalion IBWF) was founded in 2019 to alleviate the rising gap of inequalily and poverty
in Pakistan. BWF provides relief lo Ihose in need by reason of age, ill-heallh, disability, financial hardship or
any olher disadvantage with the provision of financial or gifts materials and provision of grants lo individuals
and organisalions.
Our Mission
Balqees Welfare Foundation IBWFI continues lo serve the underprivileged in Pakistan, with a focus on
providing food. medical assistance. educational support. and financial grants lo those in need. Through direct
inlerventlon and partnerships with charitable organisalions. BWF strives lo meet ils core objectives-.
1. To provide food for people in need.
2. To support inclusive education and welfare for children living with disabilities or in poverty.
3. To assist with medical Irealmenl for those in need.
4. To provide financial hardship grants lo the most vulnerable individuals.
OBJECTIVES AND ACTIVITIES
Objectlves and aims
Balqees Welfare Foundalion remains unwavering in ils commilmenl lo create transformative change in the
lives of the underprivileged. We believe in the power of slrenglhening our core programs, expanding our
geographical reach, fostering holistic community development, harnessing the potential of technology and
forming slralegic collaborations. These principles guide our efforts as we work towards making a profound
and enduring impact on poverly alleviation, healthcare, education and he over811 well-being of marginalised
communities.
With a sleadfasl dedication lo our mission, Balqees Welfare Foundation stands poised lo continue ils journey,
aspiring lo a future where every individual can experience dignity, empowerment and hope for a beller
tomorrow.
Balqees Welfare Foundation {BWFI UK extends granls lo ils sister organisalion, Balqees Welfare Foundation
IBWFI Pakistan, bearing registration number A039941. BWF Pakistan holds official charitable slalus, being
registered with the Securities and Exchange Commission of Pakistan {SECPI under Section 42 of the
Companies Act 2017 and is further acknowledged as a charitable oragnisalion by the Pakistan Centre of
Philanthropy IPCP}.
BWF Pakistan slralegically allocates these funds lo a spectrum of critical programs through direct
implemenlalion and 8lralegic partnerships with reputable registered charities. These inilialives encompass
vital areas such as food dislribulion, educational support and medical care collectively delivering
indispensable relief lo underserved communities in Pakistan.
Tho charily upholds a figorous due diligence process. meticulously selecting the most suitable partners and
beneficiaries. This entails gathering comprehensive data on key stakeholders, formalising collaboralive
agreements and diligently monitoring progress through regular res)orls. Donors from the UK can be confident
that their contributions are direcled towards fulfilling our mission through Balqees Welfare Foundation
Pakistan.
Page 1

Balqees Welfare Foundation
(Charitable Incorporated Organlsatlon}
Report of the Trustees
for the Year Ended 31 0e¢ember 2Q23
OBJECTIVES AND ACTIVITIES
Grantmaking
Hardshlp Grant
Recognising the dire economic conditions in Pakistan, BWF has increased ils financial hardship grants,
providing cash assistance lo 45 families facing severe financial difficulties due lo disability, widowhood, or
unemployment. This SUPPOrt has been crucial in helping families cover basic needs such as food, shelter, and
medical care.
Case Studies:
Zahlda's Rosilience
Zahida, a mother of three disabled children, struggled lo manage household exp8ns95 on her husband's
meager laborer income. Unable lo work due lo her caregiving responsibilities, Zahida's family was on the
verge of collapse. BWF'S financial hardship grant has allowed her lo meet her children's medical needs and
cover essential living expenses, providing the family with much-needed slabilily.
Faheed's Triumph over Adversity
Faheed, a former district cricket star, suffered devaslaling spinal injuries iri a road accident, confining him lo
bed and stripping him of his spirit. Thanks lo BWF'S financial support and rehabililalion program al Sl. Joseph
Hospice. Faheed has regained his ability lo move and is now able lo play badminton. He is hopeful aboul
playing cricket again and is an inspiring leslamenl to human resilience.
Public benefit
In planning ils objectives and activities for the period, the Iruslees have considered the guidelines published
by Charities Commission on 'public benefit, and they are able lo demonslrale that objectives alld activities
comply with the slalulory requirement.
Page 2

Balqees Welfare Foundatlon
{Charitable Incorporated Or9anisatlonl
Report of the Trustees
for the Year Ended 31 December 2023
OBJECTIVES AND ACTIVITIES
Charilablo Actlvities
Principal activities of the charity during the year can be broadly calegorised into the following groups of
programmes..
Food bank
BWF provided food parcels on monthly inlervals lo 402 families, while during the month of Ramadan this
increased lo over 1,740 families. Beneficiaries received essential food items such as flour. rice, lenlils, oil.
and lea. The food dislribulion efforts have addressed hunger and malnulrilion among economically
disadvantaged communities across Pakistan, including new regions affecled by nalural disaslers like floods.
Cas8 Studies..
Naveed's Story
Naveed, who became wheelchair-bound due lo polio at age two, struggled lo provide for his family while
working in a Cuflain factory. BWF'S intervention through monthly food support lightened his burden and
allowed his children lo continue their educalion, providing much-needed stability in family's life.
MalSka's Story
Malika, a young girl from Rawalpindi, was suffering from tuberculosis. After being treated al a private hospital
for six months with no improvement. she was referred lo BWF. Along with her medical Irealmenl, BWF
provided her family with nulrilious food packages, which contributed significantly lo her recovery. Today,
Malika has regained her slrenglh and is preparing to continue her studies, thankful for the supporl from BWF.
Haleema's Famlly
Haleema, an orphaned girl who contracted tuberculosis, was treated al the Federal GoveTnmenl Tuberculosis
Centre in Rawalpindi an approved implemenlalion partner of BWF, Pakistan. Her brother, the sole
breadwinner of Ihe family, struggled to support her Irealmenl. BVVF'S consislenl nulrilional support through
food package5, combined with her medical care, enabled Haleema lo recover from her illness. She is now in
good he8llh and looking forward lo resuming a normal life. The family is deeply grateful for the timely
assistance Ihal brought relief in a difficult period.
Educatlon sponsorships
The foundation supported 42 students with tuition fees, books. and other educational materials. Additionally,
BWF has enabled access ID education for orphans and underprivileged children through collaboration with
local schools. The provision of education grants. combined with monthly food supplies, ensures that families
can focus on their children's education without financial strain.
Case Studies..
Ahmed's Family
Ahmed, along with his siblings, was supported by BWF lo continue their educalion in Karachi. Coming from a
poor family, their father worked as a daily labourer. Èarning just enough lo make ends meet. Thanks lo BWF'S
educational sponsorship, Ahmed and his siblings are ex￿111ng in their studies. and two ol them have recently
passed their exams with distinction, preparing for college.
Zaryab's Journey
Zaryab, an orphan from a very poor family, faced immense challenges accessing education. His single
other struggled lo support him until she discovered Afzal Memorial School's free education program, an
approved implemenlalion p3rlner of BWF, Pakistan. Zaryab thrived, receiving free books, uniforms, and
quality education wilhoul any financial burden. This year, he passed fifth glade and enrolled in a nearby
government school, continuing his educational journey with renewed hope for the ful4Jre.
Sameera's Achlevement
Sameera, a 5-year-old girl who lost her father, struggled to access education due lo her famills financial
drfficullies. BWF'S parlnership wilh Afzal Memorial School ensured she could allend school for free. After
completing her fiflh-grade eéucalion, she enrolled in s government school for higher studies. Sameera is
determined lo pursue higher edu¢abon and lift her family out of poverly.
Page 3

Balqees Wèlfare Foundation
{Charitable Incorporated Organisatlon}
Report of the Trustegs
for the Year Ended 31 December 2023
OBJECTIVES AND ACTIVITIES
Medlcal assistance
BWF continues lo provide financial support for medical Irealmenl lo impoverished individuals in Pakistan. The
organisalion provided ongoing medical assistance lo 18 individuals suffering from chronic conditions
neluding tuberculosis and dialysis patients. BWF'S support of hospitals like the SSWAB Dialysis Centre and
Pakistan Kidney Patient Association has ensured that low-income patients receive free, life-saving
Irealmenls.
Case Studles..
Niyalt's Dialysis Support
Niyall, a patient frorll Rawalpindi, suffers from kidney failure and requires regular dialysis, Due to his severe
health conditions, including heart problems and diabetes, Niyall was unable lo work, and his family struggled
lo cover medical expenses. BWF stepped in lo fund his dialysis llealmenls and medical care. His health has
improved signilicanlly, and his family is grateful for BWF'S ongoing support, which has allowed them lo focus
on his recovery.
Rabla Javed's Journey
Rabia, a widow suffering from chronic kidney disease, faced financial dlslress after losing her primary source
of income. Struggling lo afford the lrfe-saving dialysis Irealmenls she desperately needed, Rabia received
assistance from BWF. The hardship grant provided by BWF allowed her lo cover her medical expenses and
regain her health. The continuous support has helped R2bia manage her condition and has given her hope
for a more stable and healthier future.
Johnson's Recovery at SSWAB Dialysis Centrg
Johnson, a haemodialysis patient, faced financial hardship after three months of costly Irealmenl al a private
hospital. When he turned lo SSWAB Trusl Dialysis Cenlre, supported by BWF, his life transformed. All
necessary Iroalmenls and medications were provided fr98 of charge, relleving Johnson of hls financial
burdens and allowtng him lo focus on his health.
Sustainable Development
To ensure the long-lerm suslainabilily of ils charitable operations, BWF has invested in the development of
commercial properties in Islamabad, Pakistan. These properties, currently under conslruclion. will serve as a
consislenl Sour￿ of rental income in the coming years. This innovative approach lo funding allows BWF to
become more self-sufficienl and less reliant on external donations, while still mair¢laining ils core focus on
humanitarian efforts.
The properties. named Trust 2 and Trust 3, ale slralegically located in 8 prime area of Islamabad. Once
completed, they will generate subslanlial ienlal income that will be reinvested into BWF'S charitable
programs, including food dislribulion, educational sponsorships. medical assistan￿, and hardship granls.
The ongoing construction of these mulli-slory Offi￿ buSldings has been made possible through careful
financial planning, with BWF-UK'S support.
By leveraging re81 es121e development, BWF is creating a sustainable model that not only secures the future
of ils charitable activities bul also conlribules to local economic development. This strategy aligns with BWF'S
mission lo lift communities out of poverty by providing them wilh financial slabilily, and il represents a
forward-thinking approach lo chafily m8nagemenl.
Page 4

Balqees Welfare Foundation
Icharltable Incorporated Organlsation)
Report of the Trustees
for the Year Ended 31 December 2023
OBJECTIVES AND ACTIVITIES
Impltsmontatlon Partners
While BWF, Pakistan manage5 certain programs directly, a significant portion of ils aclivllies within Food
Program, Education Suppoil, Medical Assistance, and Hardship Grants are carried out through carefully
selected and approved implemenlalion partners. These parlners are credible. well-eslablished charitable
organisalions that have undergone rigorous due diligence. BWF ensures Ihal ils pailners share ils mission
and values, allowing for the effective and transparent execution of projects.
Approved partners include healthcare inslilulions, educational organisalions. and communily-based
nonprofits, such as the Federal Governrnenl Tuberculosis Cenlre, the SSWAB Dialysis Cenlre, and the
Pakistan Kidney Palienl Associalion. These partners play a vital role in extending BWF'S reach, ulilising their
local expertise lo deliver critical services in education, health, and welfare. Regular reporling, monitoring, ar)d
assessments ensure that these collaborations meet BWF'S high slandards for accounlabilily and impact.
By workin9 with trusted partners, BWF ensures that funds from UK donors ale efficiently directed towards
improving Ihe lives of the mosl vulnerable individuals across Pakistan.
STRATEGIC REPORT
In the year under review. BWF UK raised £1,238.950 in donations and grants, which were used lo fund ils
core programs in Pakistan. The Iruslees of the Charity work closely with ils sisler charity Balqees Welfare
Foundation. Pakistan by providing grands. The grants provided ale used lo meet BWF goals. Resources
expended in grants in the year ending 31st December 2023 amounted lo £500,025. ReSoUr￿S are only
expended after approval made by the trustees. The charity continues lo mainlain light control over ils
expenses, ensuring that the majorily of funds are direcled lo program aclivilies.
Principal fundlng sources
Principal fundinu source for the charity is Allied International Trading Ltd, a business selup by Mr. & Mrs.
Akhlar who are also the foundin9 trustees of the charity.
The Iruslees of the Charity give their lime freely and receive no remuneration for their services. The charity
also has support of volunteers lo assist with delivering Ils object parlicularly with 8dminislralive and
operational duties.
R9sorve policy
11 is the policy of the charity lo mainlain unrestrtcled funds. which are Ihe free reserves of the charity, at a level
which equates lo approximately three to five months unreslricled expenditure. This provides sufficient funds
lo cover management and administ¥ative and other related costs. Unreslricled funds were maintained above
this level throughout the period.
Flnancing for Implementing partners and Individuals.. BWF IBalqees Welfare Foundation} will continue to
provide financing to ils implementing partners. supporling their inilialives and Pfojecls that align wilh the
foundation's mission and objectives. This financial support helps strengthen the impact of the projects and
enables the implementing partners lo carry out their work effectively. ultimately benefiting the communities
they serve.
Futuro plans
In the coming year, BWF plans lo expand ils food distribution efforls and increase ils financial support for
education, medical assislance, and hardship granls. Additionally. BWF is working on a long-lerm
susl8inabilily model through real eslale inveslmenls in Pakistan, which will generate income lo fund ils future
activities. The conslruclion of commercial properlies in Islamabad is underway and will provide a steady
income stream for the foundation's operations.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governlng document
The charily is controlled by ils governing document. a deed of Irusl, and conslilules as a Charitable
Incorporaled Charity.
Page 5

Balqees Welfare Foundatlon
(Charitable Incorporated Organisation)
Report of the Trustees
for the Year Ended 31 December 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Rocruitment and appointment of new trustees
Our Iruslees are responsible for selling the strategy and are responsible in law for the running of Balqees
Welfare Foundation. All the Iruslees, ex￿p( where otherwise slated, served for the whole year..
1 } Parvez Akhtar
21 Rehana Jabeen Pervez
31 Seeima Akhlar
41 Dr Shoukal Ali Khan
51 Dr Aliq-Ur-Rehman
61 Mohammed Najib Khan
The Trustees are responsible for preparing the Trustees. Annual Report and the f1nancial slalemenls in
accordance wllh applicable law and United Kingdom Accounting Standards including Financial Reporting
Slandard 102." The Financisl Reporting Standard applicablè in the UK and Republic of Ireland Iuniled
Kingdom Generally Accepted Accour¢ling Practice).
The law applicable lo charities in England and Wales requires the trustees lo prepare financial slalemenls for
each financial year which give a true and fair view of Ihg 51ale of affairs of the charity and of the incoming
resources and applicalion of resources of the charity for that period. In preparing these financial stalemenls.
the Trustees are required lo..
select suitable accounting policies and apply them consislenlly.,
observe the methods and principles in the Charities Statement of recommended Practice.,
make judgements and eslimales that are reasonable and prudent.,
slate whether applicable accounting standards have been followed, subject lo any material departures
disclosed and explained in the financial slalemenls, and
prepare the financial slalemenls on a going concern basis unless il is inapproprlale lo presume Ihal the
charity will continue in operation.
The Iruslees are responsible for keeping sufficient accoLJnling records Ihal disclose with reasonable accuracy
al any lime the financial position of the charity and enable them lo ensure that Ihe financial slalemenls comply
th the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of Ihe
trust deed. They are also responsible for safeguarding the assets of the charity and hen￿ for taking
reasonable sleps for Ihe prevention and deleclion of fraud arid other irregularities.
The Iruslees are responsible for the maintenance and integrity of the corpoTale and financial information
included on the charity's website. Legislalion in the United Kingdom governing the preparaliorTr and
dissemin81ion of financial slalemenls may éiffer from legislation in other iurisdiclions.
Organisational structure
Balqees Welfare Foundation is a Charitable Incorporated Organisalion is registered with the Charity
Commission.
Induction and tralnlng of new trustees
Where new Iruslees are appointed, they are given a formal induction lo the work of the Charity and provided
with the information they need to fljlfil their roles, which includes information about the role of Iruslees and
charity law.
New Iruslees are nominated by members of the board of Iru51ees, interviewed by a panel of trustees and
appointeé where Ihey have the necessary skills lo contribute lo the charity's managemonl and development.
Each Iruslee lakes responsibility for monitoring Ihe charills activities in specifiG operational areas.
Page 6

Balqees Welfare Foundation
(Charitable Incorporated Organisatlon)
Report of the Trustees
for the Year Ended 31 December 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Related parties
The charity works very closely with ils sister charity in Pakistan, Balqees Welfare Foundation, regi8lered
charily number A039941. Two of the founding Iruslees Mr. Parvez Akhlar and Mrs. Rehana Jabeen Pervez
are also major shareholders in Allied International Tr3dSng Limited, UK the main donor organisalion lo the UK
charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
CE019166 (England and Walesl
Registered Charity number
1185768
Reglstgred offlce
The Birches
6A Glouceslei Road
London
E112ED
Trustees
P Akhlar
Mrs RJ Pervez
Mrs S Akhlar
MNKhan
DrSAKhan
Dr A Rehman
Auditors
Alderlon Accountancy Limited, Slalulory Auditor
Charlerod Certified Accounlanls
Registered Auditors
962 Eastern Avenue
Newbury Park
Illord
Essex
IG2 7JD
Bankers
Barclays Bank PLC
2 Churchill Place
London
E14 SR8
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The Iruslees (who are also the direclofs of Balqees Welfare Foundation (Charilable Incorporated
Organisalion} for the purposes of company lawl are responsible for preparing the Report of the Trustees and
the financial slalemenls in accordance with applicable law and United Kingdom Accounting Standards (United
Kingdom Generally Accepted Accounling Praclicel.
Page 7

Balqees Welfare Foundatlon
(Charitable Incorporated Organisation)
Report of the Trustees
for the Year Ended 31 December 2023
STATEMENT OF TRUSTEES. RESPONSIBILITIES_ continued
Company law requires the Iruslees lo prepare financial slalemenls for each financial year which give a true
and fair view of the slate of affairs of the ch8rilable company and of the incoming resources and application of
resources, including the income and expenditure, of the charitable company for that perSod. In preparing those
financial slalemenls, the Iruslees are required lo
select suitable accounting policies and then apply them conslslenlly.,
observe the methods and principles in the Charity SORP.
make judgements and eslimales that are reasonable and prudent..
slate whether applicable accounting standards have been followed, subject lo any material departures
disclosed and explained in the financial slalemenls.,
prepare the financial slalemenls on the going concern basis unless il is inappropriate lo presume Ihal the
charitable company will continue in business.
The Iruslees are responsible for keeping proper accounting records which disclose with reasonable accuracy
al any lime the financial posilion of the charitable company and lo enable them lo ensure that the fin8ncial
slalemenls comply with the Companies Act 2006. They are 81s0 responsible for safeguarding the assets of
the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and
other iTregularilies.
In so far as the Iruslees are aware..
there is no relevant audit information of which the charitable company's auditors are unaware., and
the Iruslees have taken all steps that they oughl lo have taken lo make themselves aware ol any relevant
audit information and lo establish that the auditors are aware of that information.
AUDITORS
The auditors, Jamil Raja of Alderlon Accountancy Limlled. will be proposed for re-appoinlmenl al the
forthcoming Annual General Meeting.
Report of the Iruslees, incorporating a strategic report, approved by order of the board of Iruslees, as the
company directors. on 26 September 2024 and signeij on the board's behalf by..
P Akhlar- Tr
Page 8

Report of the Independent Auditors to the Trustees of
Balqees Welfare Foundation
(Charitable Incorporated Organisation)
Opinion
We have audited the financial slalemenls of Balqoes Welfare Foundation {Charilable Ineorporaled
Organisalionl Ilhe 'charilable company'l for the year ended 31 December 2023 which comprise the Slalemenl
of Financial Aclivilies, the Balance Sheet, the Cash Flow Slalemenl and notes lo the financial slalemenls,
ncluding a summary of signilic3nl accounting policies. The financial reporting framework that has been
applied in their preparation is applicatile law and United Kingdom Accounling Standards Iuniled Kingdom
Generally Accepted Accounting Practice).
In our opinion the financial slalemenls..
give a true and fair view of the slate of the charitable companls affairs as al 31 December 2023 and of ils
incoming resources and application of resources, including ils income and expendiluro, for Ihe year then
ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.,
and
have been prepared in accordance with the requiremenls of the Companies Act 2006.
Basis for oplnion
We conducted our audit in accordance with Inlernalional Slandards on Auditing (UK) IISAS {UKII and
applicable law. Our responsibililies under those slatbdards are further described in the Auditors.
responsibilities for the audit of Ihe financial slalemenls seclion of our report. We are indepèndent of the
charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial
slalèmenls in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordan￿ with these requirements. We believe that the audit evidence we have obtained
is sufficient and appropriate lo provide a basis for our opinion.
Concluslons relating to going concern
In audiling the financial slalements, we have concluded that the Iruslees, use of the going concern basi8 of
accounting in the preparation of the financial slalemenls is appropriate_
Based on the work we have performed, we have not identified any material uncerlainlies relating lo events or
conditions that, individually or collectively, may cast significant doubl on the charitable company's ability lo
continue as a going concern for a period of al least twelve months from when the financial slalemenls are
aL¢lhorised for issue.
Our responsibilities and the responsibilities of the Iruslees with respect lo going concern are described in the
relevant sections of this report.
Other informatlon
The trustees are responsible for the other information. The other information comprises the information
included in the Annual Report, olher than Ihe financial slalemenls and our Report ol the Independent Auditors
Ihereon.
Our opinion on the financial slalemenls does nol cover the other information and, except lo the exlenl
otherwise expliciily slated in our report, we do not express any form of assurance conclusioll Ihereon.
In connection with our audit of the financial stalemenls. our responsibility Is to read the other information and.
in doing so, consider whelher the other information is materially inconsislenl with the financial statements or
ovr knowledge obtained in the audit or otherwise appears lo be maleiially misslaled. If we identify such
malerial inconsistencies or apparent material misslalemenls, we are required lo determine whether this gives
rise lo a material misslalemenl in the financial slalemenls themselves. If, based on the work we have
performed, we conclude that there is a material misslalemenl of this olhei information, we are required lo
report that fact. We have nothing lo report in this iegard.
Matters on which wa are required to report by exceptlon
We have nothing lo report in respect of the following mallers where the Charities (Accounts and Reports)
Regulations 2008 requires us lo report lo you if, in our opinion..
the information given in the Report of the Trustees is inconsislenl in any material respect with the financial
slalemenls., or
the charitable company has not kept adeqLJale accounting records,. or
the financial slalemenls are not in agreemenl with the accounting records and returns,. or
we have not received all the information and explanalions we require for our audit.
Page g

Report of the Independent Auditors to the Trustees of
Balqees Welfare Foundation
(Charltable Incorporated Organisation)
Responslblllties of trustees
As explained more fully in the Slalemenl of Trustees, Responsibilities, the Iruslees (who are also the directors
of the Charitable company for Ihe purposes of company law) are responsible for the preparation of the
financial slalemenls and for being satisfied that they give a true and fair view, and for such internal control as
the Iruslees determine Is necessaTy to enable the preparalion of financial slalemenls that are free from
material misslatemenl. whether due lo fraud or error.
In preparing the financial slalemenls, the Iruslees are responsible for assessing the charitable company's
abilily lo continue as a going concern. disclosing, as applicable, mallers related lo going concern and using
the going con￿rn basis of accounting unless the Iruslees either intend lo liquidate the ch2Tilable company or
lo cease operations, or have no realislic allernalive but to do so.
Our responslbllltles for the audlt of the flnancial statements
We have been appointed as auditors under Section 144 of the Charilies Act 2011 and report in accordance
with the Act and relevant regulations made or having effecl Ihereunder.
Our objectives are lo obtain reasonable assurance about whether the financial slalemenls as a whole are free
from material misslalemenl, whether due lo fraud or error. and lo issue a Report ol the Indep8ndenl Auditors
that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee Ihal an
audit conducted in accordance with ISAS IUKI will always delecl a material misslalemenl when il exists.
Misslalemenls can arise from fraud or error and are considered material if, indiviéually or in the aggregate,
they could reasonably be expected lo Influen￿ (he economic decisions of users taken on the basis of these
financi81 slalemenls.
The exlenl lo which our procedures are capable of delecling irregularities, including fraud is detailed below..
Irregularities, including fraud, are instances of non-cornpliance with laws and Tegulalions. We design
procedures in line with our responsibilities, outlined above, lo delecl material misslalemenls in respect of
irregularities, including fraud.
A further description of our r8sponsibilities for Ihe audit of the financial slalemenls is located on Ihe Financial
Reporting Council's website al ww.frc.org.uklaudllorsresponsibilllies. This descriplion forms part of our
Report of the Indopendenl Audilols.
Use of our rèport
This report is made solely lo the charitable compsnls Iruslees, as a tsody, in accordance with Parl 4 of the
Charilies (Accounts and Reporlsl Regulations 2008. Our audit work has been undertaken so that we might
stale lo Ihe charitable company's Iruslees those mallers we are required lo slate lo them in an audilors, report
and for no other purpose. To the fullest exlent permilled by law, we do not accept or assume responsibility lo
anyone other than the charitable company and the charitable company's Iruslees as a body. for our audit
work, for this report, or for the opinions we have formed.
for and on beha5f J Raj8 & Co Alderlon Accountancy Limiled, Slalulory Auditor
Chartered Certified Accounlanls
Registered Auditors
Eligible lo act as an audilor in terms of Section 1212 of tho Companies Acl 2006
962 Eastern Avenue
Newbury Park
Ilford
Essex
IG2 7JD
26 September 2024
Page 10

Balqees Welfare Foundation
(Charltable Incorporated Organisation)
Statement of Financial Actlvlties
for the Year Ended 31 December 2023
2023
Total
funds
2022
Total
funds
Unrestricted Restricted
funds
fund
Notes
INCOME AND ENDOWMENTS FROM
Donalions and1egacies
1,238,950
1,238,950
1,031,379
EXPENDITURE ON
Charitable activities
Balqees Welfare Pakistan
500,025
500,025
471,252
other
2,529
2,529
5.352
Total
502,554
502,554
476.604
NET INCOME
736,396
736,396
554,775
RECONCILIATION OF FUNDS
Total funds brought forward
2,669,864
2,669,864
2,115,089
TOTAL FUNDS CARRIED FORWARD
3.406.260
3,406,260
2,669,864
The notes form part of Ihese financial statements
Page11

Balqee5 Welfare Foundatlon
{Charltable Incorporated Organlsalion)
Balance Sheet
31 December 2023
2023
Total
funds
2022
Total
funds
Unreslricled Restricted
funds
fund
Notes
CURRENT ASSETS
Cash al bank
3,409,860
3,409.860
2,678,239
CREDITORS
Amounts falling due within one year
10
13,6001
13,600)
18,3751
NET CURRENT ASSETS
3,406.260
3,406,260
2,669.864
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,406,260
3.406,260
2,669,864
NET ASSETS
3,406.260
3.406,260
2,669,864
FUNDS
Unreslricled funds
11
3,406,260
2,669,864
TOTAL FUNDS
3,406.260
2,669,864
The charitable company 15 enlilled lo exemption from audit under Section 477 of the Companies Act 2006 for
the year ended 31 December 2023.
The members have not depDsiled notice, pursuant lo Section 476 of the Companies Act 2006 requiring an
audit of these financial slalemenls.
The Iruslees acknowledge Iheir responsibilities for
la)
ensuring that the charitable company keeps accounting records that comply with Secllons 386 and 387
of the Companies Act 2006 and
preparing financial slalemenls which give a true and fair view of the slate of affairs of the charitable
company as al the end of each flnancial year and of ils surplus or deficit for each financial year in
accordance with the requiremenls of Sections 394 and 395 and which olhenNise comply with the
requirements of Ihe Companies Act 2006 relating lo financial slalemenls, so far as applicable lo the
charitable company.
Ibl
These financial slalemenls have been audited under the requirements of Section 145 of the Charities Act
2011.
The financial slalemenls were approved by the Board of Trustees and 8ulhorised for issue on
26 September 2024 and were signed on ils behalf by..
P Akhlar- Tru
The notes form parl of these financial slalements
Page 12

Balqees Welfare FoundatSon
(Charitable Incorporated Organisation)
Cash Flow Statement
for the Year Ended 31 December 2023
2023
2022
Notes
Cash flows from operallng actlvltigs
Cash generated from operations
731,621
554,750
Nel cash provided by operating activities
731,621
554,750
Change in cash and cash equivalents
In the reportlng period
Cash and cash equivalents at the
beglnning of the reporting pèrlod
731,621
554,750
2,678,239
2.123,489
Cash and cash equlvalents at the end
of tho roporting period
3,409,860
2.678,239
The notes form part of these financial statements
Page 13

Balqees Welfare Foundatlon
{Charilable Incorporated Organisatlon)
Notes to the Cash Flow Statement
for the Year Ended 31 December 2023
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2023
2022
Net Income for the reportlng period (as per the Statement of
Financial Activities}
Adju$tmgnts for..
Decrease in creditors
736,396
554,775
{4,775}
1251
Net cash provided by operations
731,621
554,750
ANALYSIS OF CHANGES IN NET FUNDS
At 1.1.23
Cash flow At 31.12.23
Net cash
Cash al bank
2.678,239
731,621
3,409,860
2,678,239
731,621
3,409,860
Total
2,678.239
731,621
3.409,860
The notes form part of these financial statements
Page 14

Balqees Welfare Foundatlon
{Charltable Incorporated Organisatlon)
Notes to the Financial Statements
for the Year Ended 31 December 2023
ACCOUNTING POLICIES
Basls of preparing the financial statements
The financial slalemenls of the charitable company, which is a public benefit enlily under FRS 102,
have been prepared in accordance with the Charities SORP IFRS 1021 'Accounling and Reporting by
Charities.. Slalemenl of Recommended Practice applicable lo chafilies preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS
102} leffeclive 1 January 20191,. Financial Reporling Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial slalemenls
have been prepared under the historical cost convenlion.
Income
All income is recognised in the Slalemenl of Financial Activities once the charity has enlillemenl lo the
funds, il is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or conslruclive obligallon
commilling the charity lo that expenditure, il is probable that a transfer of economic benefits will be
required in selllemenl and the amount of the obligation can be measured reliably. Expendilure is
accounted for on an accruals basis and has been classified under headings that aggregate all cost
related lo the calegory. Where costs cannot be directly allribuled lo particular headings they have been
allocated lo activities on a basis consislenl with the use of resources.
Grants offered subject to conditions which have nol been mel al the year end dale are noled as a
commitment bul not accrued as expenditure.
Allocation and apportlonment of costs
In allribuling costs between activity ealegories. the following principles are applied.
{1 Iwhere appropriate, expenditure is allocated directly lo activity cost calegory.
{2lllems of expenditure which contribute directly lo the oulpul of more than one aGlivity cost category
are apportioned on a reasonable, justifiable and consislenl basis.
Taxatlon
The charity is exempt from corporation lax on ils charitable aclivilies.
Fund accounting
Unreslricled funds can be used in accordance with Ihe charitable objeclives al the discretion of the
Iruslees.
Reslricled funds can only be used for parlicular reslricled purposes within the objects of the charity.
Resliiclions arise when specified by the donor or when funds are raised for particular reslricled
purposes.
Further explanation of the nature and purpose of each fund is included in the notes lo the financial
slalemenls.
True and fair overrlde statement
We completed audil procedures lo conclude on the Compliance of disclosures in the annual report and
accounts with applicable financial reporting requiremenls.These audit procedures were designed lo
provide reasonable assurance that the financial slalemenls were free from fraud or error. However,
delecling irregularities that result from fraud is
inherently mole difficult Ihan delecling those that result
from error, as those irregularities that result from fraud may involve collusion, deliberate C0￿cealMenI,
forgery or intentional misrepresentalions.Also, the further removed non-compliance with laws and
regulations is from events and transactions reflected in the financial slalemenls. the less likely we
would become aware of it.,
Page 15
continued...

Balqee5 Welfare Foundation
{Charitable Incorporated Organisationl
Notes to the Flnanclal Statements- conllnued
for the Year Ended 31 De¢ember 2023
ACCOUNTING POLICIES- contlnugd
True and falr override statement
The assessmenl of the appropriateness of the collective competence and capabilities of the
engagement team included consideration of the engagemenl team's..
understanding of, and practical experience with audit engagements of a similar nature and complexity
through appropriate training and parlicipalion.,
knowledge of the industry in which the client operates., and
understanding of the legal and regulatory requirements specific lo the enlilylregulaled entlly including
the provisions of the applicable legislation, the regulators rules and related guidance, including
guidance issued
by relevant authorities that interprets those rules, the applicable slalulory provisions.
We did not identify any mallels relating lo non-compliance with laws and regulations. We
communicated relevant laws and regulations and potential fraud risks lo all engagement team
members, including internal specialists, and remained alert lo any indications of fraud or
non-compliance with laws and regulations throughout the audil.No mallers relating lo non-compliance
with laws and regulations
were determined as key audit mallers,. and
In a5sessirJg the potential risks of material misslalemenl, we obtained an understanding of..
the enlills operations, including the nature of ils revenLJe sources, products and services and of ils
objectives and strategies lo understand the classes of Iransaclions, account balances, expected
financial slalemenl disclosures and business risks that may result in risks of material missl8lement'
and
the applicable regulatory framework.
DONATIONS AND LEGACIE5
2023
2022
Donations
1,238,950
1,031,379
CHARITABLE ACTIVITIES COSTS
Grant
funding of
aclivilies
(see note
41
Balqees Welfare Pakistan
500,025
Page 16
continued...

Balqees Welfare Foundation
{Charitable Incorporated Organlsation)
Notes to the Financlal Statements - continued
for the Year Endod 31 December 2023
GRANTS PAYABLE
2023
2022
Balqees Welfare Pakistan
500.025
471,252
The total grants paid lo inslilulions during the period was £500,02512022- £472.2521.
SUPPORT COSTS
Information Governance
technology
costs
Finance
Totals
Other resources expended
30
324
2.175
2,529
NET INCOMEIIEXPENDITUREI
Nel in¢omel{expendilure} is slated after chargingllcredilingl..
2023
2022
Audilors, remuneration
2,175
3.000
TRUSTEES. REMUNERATION AND BENEFITS
There were no Iruslees, retnuneralion or olher benefits for the year ended 31 December 2023 nor for
the year ended 31 D8cember 2022.
Trustees. expenses
There were no liuslees, expenses paid for the year ended 31 December 2023 nor for Ihe year ended
31 December 2022.
STAFF COSTS
There were no staff costs for the year ended 31 December 2023 nor for the year ended
31 December 2022.
The average monthly number of employees during the year was as follows..
2023
2022
No employees receThfed emoluments in excess of £60,000.
Page 17
continued...

Balqees Welfare Foundation
(Charitable Incorporaled Organisation)
Notes to the Financial Statements- continued
for the Year Ended 31 December 2023
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted
funds
fund
Total
funds
INCOME AND ENDOWMENTS FROM
Donalions and legacies
1,031,379
1,031,379
EXPENDITURE ON
Charitable activities
Balqees Welfare Pakistan
471,252
471,252
Other
5,352
5,352
Total
476,604
476.604
NET INCOME
554,775
554,775
RECONCILIATION OF FUNDS
Total funds brought forward
2,115,089
2.115,089
TOTAL FUNDS CARRIED FORWARD
2,669,864
2.669,864
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
Accrued expenses
3,600
8,375
11.
MOVEMENT IN FUNDS
Nel
movement
in funds
At
31.12.23
At 1.1.23
Unrestrlcted funds
General fund
2,669,864
736.396
3.406,260
TOTAL FUNDS
2,669,864
736,396
3.406,260
Nel movement in funds, included in the above are as follows:
Incoming Resources Movement
resources
expended
in funds
Unrestrlcted funds
General fund
1,238,950
(502,5541
736,396
TOTAL FUNDS
1,238,950
1502,5541
736,396
Page 18
continued...

Balqees Welfare Foundation
(Charitable Incorporated Organlsation)
Notes to the Financial Statements- continued
for the Year Ended 31 December 2023
MOVEMENT IN FUNDS- contlnued
Comparatives for movernent In funds
Net
movement
in funds
At
31.12.22
At 1.1.22
Unre5trlded funds
General fund
2,115,089
554.775
2,669,864
TOTAL FUNDS
2,115,089
554.775
2,669,864
Comparative nel movement in funds, included in the above are as follows..
Incoming Resources Movement
resources
expended
in funds
Unrestricted funds
General lund
1,031,379
(476,6041
554,775
TOTAL FUNDS
1.031,379
1476,6041
554,775
A current year 12 months and prior year 12 months combined position is as follows..
Nel
movement
in funds
Al
31.12.23
At 1.1.22
Unrestricted funds
General fund
2.115,089
1,291,171
3,406,260
TOTAL FUNDS
2,115,089
1,291,171
3,406,260
A current year 12 months and prior year 12 months combined n81 movement in funds. included in the
above are as follows..
Incoming Resource5 Movement
resources
expended
in funds
Unrestrict9d funds
General fund
2,270,329
{979,1581
1,291,171
TOTAL FUNDS
2,270,329
1979,1581
1.291,171
Page 19
continued...

Balq•es Welfare Foundatlon
(Charitable Incorporated Organlsation)
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
12. RELATED PARTY DISCLOSURES
The charity works very closely with ils sister charity in Pakistan, Balqees Welfare Foundation.
registered charily number A039941. Two of the founding Iruslees Mr. Parvez Akhlar and Mrs. Rehana
Jabeen PeTvez are also major shareholders in Allied International Trading Limited, UK the main donor
Organisalion lo the UK charity.
Donations Received from-.
Allied International Trading limited.. £1,238,95012022 £1,031.3791
Page 20

Balqees Welfare Foundation
(Charitable Incorporated Organisatlon)
Delalled Statement of Financial Actlvllles
for the Year Ended 31 December 2023
2023
2022
INCOME AND ENDOWMENTS
Donations andlggacles
Donations
1,238,950
1.031,379
Total Incomlng resources
1,238.950
1.031,379
EXPENDITURE
Charltable actlvlties
Grants lo instit￿tIonS
500.025
471,252
Support costs
Finance
Bank charges
30
Informatlon technology
Website hosting
324
Governance costs
Auditors. remuneration
Accountancy and legal fees
2,175
3,000
2,352
2,175
5,352
Total resources expended
502,554
476,604
Net Income
736.396
554,775
This page does not form part of the slalulory financial statements
Page 21