OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-10-31-accounts

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 2023

Riley Moss 2018 Limited Citygate Longridge Road Preston Lancashire PR2 5BQ

ZOUQ FOUNDATION

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

Page
Reference and Administrative Details 1
Trustees' Report 2 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Statement of Financial Position 6
Notes to the Financial Statements 7 to 10

ZOUQ FOUNDATION

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 OCTOBER 2023

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 Citygate Longridge Road Preston Lancashire PR2 5BQ

Page 1

ZOUQ FOUNDATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31 OCTOBER 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

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 2023 completed our fourth year, and during that time we worked with other registered charities and organisations to successfully deliver a number of projects:

  1. We funded Give a Gift to support UK families, particularly those from marginalised communities, by providing them with essential food vouchers.

  2. We funded UK Education & Faith Foundation to support individuals and families in the UK with instant crisis support to achieve stability, thereby escaping homelessness, domestic abuse and/or financial stress.

  3. We funded National Zakat Foundation to support struggling families in the UK by providing them with financial support to cover their basic living expenses such as food, clothing and utilities.

  4. We funded the tuition and accommodation fees of disadvantaged students enrolled on the Contextual Islamic Studies & Leadership course at Cambridge Muslim College. This promoted the College's aim to develop Muslim faith leadership through world-class education, training and research.

  5. We funded Drop of Compassion to support a local maternity clinic in rural Malawi where mothers can access free anti-natal and/or post-natal care, greatly reducing travel distances and increasing the success of deliveries. We also funded waterwheels for women in rural Malawi to ease the physical burden of collecting and transporting water, reducing physical injury and increasing time for education, employment or recreation. Additionally, we funded bicycles for individuals to make travel to school or shopping more affordable.

  6. We funded Just Help Foundation and One Nation to provide passenger rickshaws to the poor unemployed in Bangladesh, supporting their efforts to generate income enabling them to sustain themselves and their dependents.

  7. We funded Amanat Charity Trust to provide teachers suffering financial hardship in Ethiopia with a sustainable income from goat farming.

  8. We funded One Nation to construct shops in Zambia, supporting the efforts of disadvantaged families to generate a long-term sustainable income.

  9. We funded Human Aid & Advocacy to provide men and women suffering hardship in Afghanistan with training and resources to enable them to generate a stable income and sustain themselves and their families. We also funded the construction of a greenhouse to mitigate food insecurity by providing agricultural training and support, enabling beneficiaries to grow and harvest food to generate income and sustain themselves.

  10. We funded Imran Khan Cancer Appeal to support their efforts providing free cancer care to poor patients in Pakistan.

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.

Page 2

ZOUQ FOUNDATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31 OCTOBER 2023

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 12 August 2024 and signed on its behalf by:

Dr Nadia Zouq - Trustee

Page 3

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 2023.

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 Citygate Longridge Road Preston Lancashire PR2 5BQ

15 August 2024

Page 4

ZOUQ FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2023

----- Start of picture text -----
2023 2022
Unrestricted Total
fund funds
Notes £ £
Income and endowments from
Donations and legacies 2 400,000 400,000
Expenditure on
Charitable activities 3
Charitable donations 382,045 269,000
Support costs 1,670 900
Total 383,715 269,900
NET INCOME 16,285 130,100
Reconciliation of funds
Total funds brought forward 410,052 279,952
Total funds carried forward 426,337 410,052
----- End of picture text -----

The notes form part of these financial statements

Page 5

ZOUQ FOUNDATION

STATEMENT OF FINANCIAL POSITION 31 OCTOBER 2023

----- Start of picture text -----
2023 2022
Unrestricted Total
fund funds
Notes £ £
Current assets
Cash at bank 427,267 410,952
Creditors
Amounts falling due within one year 8 (930) (900)
Net current assets 426,337 410,052
Total assets less current liabilities 426,337 410,052
NET ASSETS 426,337 410,052
Funds 9
Unrestricted funds 426,337 410,052
Total funds 426,337 410,052
----- End of picture text -----

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

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 12 August 2024 and were signed on its behalf by:

Dr Nadia Zouq - Trustee

The notes form part of these financial statements

Page 6

ZOUQ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

1. Accounting policies

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

----- Start of picture text -----
|||| |---|---|---| |2023|2022| |£|£| |Donations|400,000|400,000|

----- End of picture text -----

Page 7

continued...

ZOUQ FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2023

3. Charitable activities costs

Support
Direct
costs (see
Costs
note 4)
£
£
Charitable donations
382,045
-
Support costs
-
1,670
382,045
1,670
4.
Support costs
Governance
Management
costs
£
£
Support costs
710
960		 Totals
£
382,045
1,670
383,715
Totals
£
1,670

5. Trustees' remuneration and benefits

There were no trustees' remuneration or other benefits for the year ended 31 October 2023 nor for the year ended 31 October 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 October 2023 nor for the year ended 31 October 2022.

6. Staff costs

There were no staff costs for the year ended 31 October 2023.

No employees received emoluments in excess of £60,000.

7. Comparatives for the statement of financial activities

Comparatives for the statement of financial activities
Income and endowments from
Donations and legacies		 Unrestricte
fund
£
400,000
Expenditure on
Charitable activities
Charitable donations
Support costs		 269,000
900
Total 269,900
NET INCOME 130,100
Reconciliation of funds
Total funds brought forward 279,952

Page 8

continued...

ZOUQ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2023

----- Start of picture text -----
7. Comparatives for the statement of financial activities - continued
Unrestricte
fund
£
Total funds carried forward 410,052
8. Creditors: amounts falling due within one year
2023 2022
£ £
Accruals and deferred income 930 900
9. Movement in funds
Net
At movement At
1.11.22 in funds 31.10.23
£ £ £
Unrestricted funds
General fund 410,052 16,285 426,337
TOTAL FUNDS 410,052 16,285 426,337
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 400,000 (383,715) 16,285
TOTAL FUNDS 400,000 (383,715) 16,285
Comparatives for movement in funds
Net
At movement At
1.11.21 in funds 31.10.22
£ £ £
Unrestricted funds
General fund 279,952 130,100 410,052
TOTAL FUNDS 279,952 130,100 410,052
----- End of picture text -----

Page 9

continued...

ZOUQ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 OCTOBER 2023

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
£
400,000
400,000		 Resources
Movement
expended
in funds
£
£
(269,900)
130,100
(269,900)
130,100

10. Related party disclosures

There were no related party transactions for the year ended 31 October 2023.

Page 10