**REGISTERED COMPANY NUMBER: CE019254 (England and Wales) REGISTERED CHARITY NUMBER: 1185897**
## **ZOUQ FOUNDATION**
## **TRUSTEES' REPORT AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022**
Riley Moss 2018 Limited Riley House 183-185 North Road Preston Lancashire PR1 1YQ
**ZOUQ FOUNDATION**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022**
|||**Page**|
|---|---|---|
|**Reference and Administrative Details**||1|
|**Trustees' Report**||2|
|**Independent Examiner's Report**||3|
|**Statement of Financial Activities**||4|
|**Statement of Financial Position**||5|
|**Notes to the Financial Statements**|6|to 9|
|**Detailed Statement of Financial Activities**||10|
**ZOUQ FOUNDATION**
**REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 OCTOBER 2022**
|**Trustees**|Dr Nadia Zouq|
|---|---|
||Dr Rehana Zouq|
||Mr Mohammed Azhar Zouq|
|**Registered office**|Zouq Foundation C/O Pakeeza Dairies|
||Kingsway West Business Park|
||Moss Bridge Road|
||Rochdale|
||Greater Manchester|
||OL16 5LX|
|**Registered company number**|CE019254 (England and Wales)|
|**Registered charity number**|1185897|
|**Independent examiner**|Riley Moss 2018 Limited|
||Riley House|
||183-185 North Road|
||Preston|
||Lancashire|
||PR1 1YQ|
Page 1
**ZOUQ FOUNDATION**
**TRUSTEES' REPORT FOR THE YEAR ENDED 31 OCTOBER 2022**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **Objectives and activities**
## **Objectives and aims**
The advancement of education, training and the prevention or relief of poverty, particularly by providing grants to support people suffering hardship, with the object of improving their conditions of life.
## **Achievement and performance**
The period up to 31 October 2022 completed our third year, and during that time we worked with other registered charities and organisations to successfully deliver a number of projects:
1. Funded iCare Foodbank to support families suffering hardship in the local community by providing them with essential food supplies.
2. Funded Give a Gift to support families in the UK affected by the Covid-19 crisis and suffering hardship by providing them with essential food supplies.
3. Funded UK Education & Faith Foundation to support families in the UK suffering hardship by providing them with essential food, clothing and financial assistance.
4. Funded National Zakat Foundation to support faith leaders and other community champions in the UK who would otherwise be held back by their financial circumstances, enabling them to access training to enhance their ability to serve their community.
5. Funded Human Aid UK to support families suffering hardship in Afghanistan by providing them with essential food supplies.
6. Funded Global One 2015 to provide women suffering hardship in Jordan with training and resources to enable them to generate income and sustain themselves.
7. Funded Imran Khan Cancer Appeal to support their efforts providing cancer care free of charge to poor patients in Pakistan.
8. Funded Al-Khair Foundation to construct houses for poor and needy families in Pakistan.
9. Funded Al-Mustafa Charitable Trust to provide healthcare, medicines and essential food and water supplies to vulnerable people in flood affected areas in Pakistan.
10. Funded Human Aid UK to construct and furnish houses for poor and needy widows with children in Syria.
## **Financial review**
## **Reserves policy**
The financial position is regularly reviewed by the trustees to ensure effective financial governance. This includes monitoring of the cash and bank balances by the trustees.The trustees are confident the organisation will continue to be able to meet with its obligations as they fall due.
## **Structure, governance and management Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Approved by order of the board of trustees on 3 June 2023 and signed on its behalf by:
Dr Nadia Zouq - Trustee
Page 2
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ZOUQ FOUNDATION (REGISTERED NUMBER: CE019254)**
## **Independent examiner's report to the trustees of Zouq Foundation ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2022.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
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, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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.
## Farook Patel FCA
Riley Moss 2018 Limited Riley House 183-185 North Road Preston Lancashire PR1 1YQ
5 June 2023
Page 3
## **ZOUQ FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2022**
|**STATEMENT OF FINANCIAL ACTIVITIES**
**FOR THE YEAR ENDED 31 OCTOBER 2022**|||
|---|---|---|
|**Notes**
**Income and endowments from**
Donations and legacies
2
**Expenditure on**
**Charitable activities**
3
Charitable donations
Support costs
**Total**
**NET INCOME**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**2022**
**Unrestricted**
**fund**
**£**
400,000
269,000
900
269,900
130,100
279,952
410,052|**2021**
**Total**
**funds**
**£**
350,000|
|||266,000
948|
|||266,948|
|||83,052
196,900|
|||279,952|
The notes form part of these financial statements
Page 4
## **ZOUQ FOUNDATION**
## **STATEMENT OF FINANCIAL POSITION 31 OCTOBER 2022**
|**Notes**
**Current assets**
Cash at bank
**Creditors**
Amounts falling due within one year
8
**Net current assets**
**Total assets less current liabilities**
**NET ASSETS**
**Funds**
9
Unrestricted funds
**Total funds**|**2022**
**Unrestricted**
**fund**
**£**
410,952
(900)
410,052
410,052
410,052
410,052
410,052|**2021**
**Total**
**funds**
**£**
280,852
(900)
279,952
279,952
279,952
279,952
279,952|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 3 June 2023 and were signed on its behalf by:
Dr Nadia Zouq - Trustee
The notes form part of these financial statements
Page 5
**ZOUQ FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022**
## **1. Accounting policies**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it 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 constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Going concern**
Trustees consider that the charity has sufficient resources and there are no material uncertainties about the charity's ability to continue. Accordingly, trustees continue to adopt the going concern basis in preparing the financial statements.
## **2. Donations and legacies**
|**Donations and legacies**|||
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|Donations|400,000|350,000|
Page 6
continued...
**ZOUQ FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022**
## **3. Charitable activities costs**
|**Charitable activities costs**||||
|---|---|---|---|
|Charitable donations
Support costs|**Direct**
**Costs**
**£**
269,000
-
269,000|**Support**
**costs (see**
**note 4)**
**£**
-
900
900|**Totals**
**£**
269,000
900|
||||269,900|
## **4. Support costs**
|**Support costs**||
|---|---|
||**Governance**|
||**costs**|
||**£**|
|Support costs|900|
## **5. Trustees' remuneration and benefits**
There were no trustees' remuneration or other benefits for the year ended 31 October 2022 nor for the year ended 31 October 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 October 2022 nor for the year ended 31 October 2021.
## **6. Staff costs**
There were no staff costs for the year ended 31 October 2022.
No employees received emoluments in excess of £60,000.
## **7. Comparatives for the statement of financial activities**
|**Comparatives for the statement of financial activities**||
|---|---|
||**Unrestricted**|
||**fund**|
||**£**|
|**Income and endowments from**||
|Donations and legacies|350,000|
|**Expenditure on**||
|**Charitable activities**||
|Charitable donations|266,000|
|Support costs|948|
|**Total**|266,948|
|**NET INCOME**|83,052|
|**Reconciliation of funds**||
|Total funds brought forward|196,900|
Page 7
continued...
**ZOUQ FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022**
## **7. Comparatives for the statement of financial activities - continued**
|**Total funds carried forward**
**8.**
**Creditors: amounts falling due within one year**
Accruals and deferred income
**9.**
**Movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|**At**
**1.11.21**
**£**
279,952
279,952
**Incoming**
**resources**
**£**
400,000
400,000
**At**
**1.11.20**
**£**
196,900
196,900|**Unrestricted**
**fund**
**£**
279,952
**2022**
**2021**
**£**
**£**
900
900
**Net**
**movement**
**At**
**in funds**
**31.10.22**
**£**
**£**
130,100
410,052
130,100
410,052
**Resources**
**Movement**
**expended**
**in funds**
**£**
**£**
(269,900)
130,100
(269,900)
130,100
**Net**
**movement**
**At**
**in funds**
**31.10.21**
**£**
**£**
83,052
279,952
83,052
279,952|
|---|---|---|
Page 8
continued...
**ZOUQ FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2022**
## **9. Movement in funds - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
350,000
350,000|**Resources**
**expended**
**£**
(266,948)
(266,948)|**Movement**
**in funds**
**£**
83,052
83,052|
|---|---|---|---|
## **10. Related party disclosures**
There were no related party transactions for the year ended 31 October 2022.
Page 9
**ZOUQ FOUNDATION**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2022**
|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**FOR THE YEAR ENDED 31 OCTOBER 2022**|||
|---|---|---|
|**Income and endowments**
**Donations and legacies**
Donations
**Total incoming resources**
**Expenditure**
**Charitable activities**
Charitable activity
**Support costs**
**Management**
Telephone
**Governance costs**
Accountancy and legal fees
Total resources expended
**Net income**|**2022**
**£**
400,000
400,000
269,000
-
900
269,900
130,100|**2021**
**£**
350,000|
|||350,000
266,000
48
900|
|||266,948|
|||83,052|
This page does not form part of the statutory financial statements
Page 10