**Charity registration number 1185897 (England and Wales)**
## **ZOUQ FOUNDATION**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025**
## **ZOUQ FOUNDATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Dr Nadia Zouq|
|---|---|
||Dr Rehana Zouq|
||Mr Mohammed Azhar Zouq|
|**Charity number (England and Wales)**|1185897|
|**Principal address**|Zouq Foundation C/O Pakeeza Dairies|
||Kingsway West Business Park|
||Moss Bridge Road|
||Rochdale|
||Greater Manchester|
||United Kingdom|
||OL16 5LX|
|**Independent examiner**|Xeinadin|
||Ground Floor, Citygate|
||Longridge Road|
||Preston|
||PR2 5BQ|
## **ZOUQ FOUNDATION**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Statement of cash flows|6|
|Notes to the financial statements|7 - 10|
## **ZOUQ FOUNDATION**
## **TRUSTEES REPORT** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_
The trustees present their annual report and financial statements for the year ended 31 October 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
## **Objectives and activities**
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.
## _Public benefit_
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
## _Significant activities and achievements against objectives_
Over the past year, the Foundation has remained steadfast in its commitment to advancing education and providing relief to those facing extreme hardship. Our work has spanned continents, from addressing the immediate needs of communities within the UK to implementing long-term developmental projects in Africa and Asia, all driven by a singular purpose: to prevent and relieve poverty while restoring dignity to the vulnerable.
## **Educational Excellence and Empowerment**
In our pursuit of educational equity, we have focused on removing financial barriers within the UK by providing 12 bursaries. These covered tuition, accommodation, and essential living costs for students pursuing advanced diplomas, ensuring that academic potential is not stifled by economic hardship. Internationally, our commitment to the next generation was reflected in large-scale infrastructure projects, such as the construction of a high school for girls in Pakistan. By providing a safe, dedicated learning environment, we are investing in the future leadership of the region. Furthermore, we recognise that education and dignity are inextricably linked; our initiatives in Uganda provided essential hygiene supplies and training to help 1000 young women manage period poverty with confidence and stay in school for longer.
## **Responding to Economic Instability**
As the cost-of-living crisis has intensified, the Foundation has taken proactive steps to support families facing acute hardship. Working alongside strategic partners, we reached 600 vulnerable households in Rochdale, Leeds, and across the North West. Our interventions went beyond providing immediate relief with food and clothing; we also supplied essential household items, furniture and guidance on financial management. This holistic approach helped families navigate periods of instability to build more resilient futures.
Our work in the UK addressed immediate economic pressures, while our international programs focussed on acute crisis responses and long-term systemic change.
## **From Emergency Response to Sustainable Development**
Following the devastating earthquakes in Afghanistan, the Foundation worked with established partners to deliver 100 food packs, hygiene kits, and emergency shelters to displaced populations. Alongside our humanitarian efforts, we continued to fund vital healthcare initiatives, including state-of-the-art cancer care in Pakistan and 280 lifechanging cataract treatments in Ethiopia.
- 1 -
## **ZOUQ FOUNDATION**
## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_
A core pillar of our strategy is the transition from emergency relief to self-sufficiency. In Afghanistan, we invested in livelihood-based tools, such as sewing machines, livestock for dairy production, and motorised tricycles, to enable families to generate independent incomes. In remote regions such as rural Mali, our work has transformed entire villages through the construction of shops, primary schools, and solar-powered wells providing easily accessible clean water. This philosophy of lasting change is woven through our global efforts: from supporting 5 small businesses in Zambia and 35 fruit carts in India to supplying 183 families with goats for milk production in Malawi and Ethiopia. By prioritising livelihood interventions, we aim to break the cycle of poverty, empowering individuals to sustain themselves and their communities.
Through these diverse and targeted interventions, the Zouq Foundation continues to strive toward a world where every individual has the opportunity to live a life of dignity, resilience, and hope.
## **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**
The charity is controlled by its governing document, a deed of trust, and constitutes as a Charitable Incorporated Organisation (CIO).
The trustees who served during the year and up to the date of signature of the financial statements were: Dr Nadia Zouq
Dr Rehana Zouq Mr Mohammed Azhar Zouq
The trustees report was approved by the Board of Trustees.
Dr Nadia Zouq
## **Trustee**
23 July 2026
- 2 -
## **ZOUQ FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ZOUQ FOUNDATION**
I report to the trustees on my examination of the financial statements of Zouq Foundation (the charity) for the year ended 31 October 2025.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I 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.
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
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 that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
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 financial statements to be reached.
Farook Patel FCA **Xeinadin** Ground Floor, Citygate Longridge Road Preston PR2 5BQ 23 July 2026
- 3 -
## **ZOUQ FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 OCTOBER 2025**_
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2025**|**2024**|
||**Notes**|**£**|**£**|
|**Income from:**||||
|Donations and legacies|**2**|600,000|616,500|
|**Total income**||600,000|616,500|
|**Expenditure on:**||||
|Charitable activities|**3**|803,794|433,025|
|**Total expenditure**||803,794|433,025|
|**Net income/(expenditure) and movement in funds**||(203,794)|183,475|
|**Reconciliation of funds:**||||
|Fund balances at 1 November 2024||609,812|426,337|
|**Fund balances at 31 October 2025**||406,018|609,812|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 4 -
## **ZOUQ FOUNDATION**
## **BALANCE SHEET**
## _**AS AT 31 OCTOBER 2025**_
|**Notes**
**Current assets**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**9**
**Net current assets**
**The funds of the charity**
Unrestricted funds
**10**|**2025**
**£**
406,948
(930)|**£**
406,018
406,018
406,018|**2024**
**£**
610,742
(930)|**£**
609,812|
|---|---|---|---|---|
|||||609,812|
|||||609,812|
The financial statements were approved by the trustees on 23 July 2026
Dr Nadia Zouq **Trustee**
- 5 -
## **ZOUQ FOUNDATION**
## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_
|**2025**
**2024**
**Notes**
**£**
**£**
**£**
**Cash flows from operating activities**
Cash (absorbed by)/generated from
operations
**12**
(203,794)
**Net cash generated from investing activities**
-
**Net cash generated from financing activities**
-
**Net (decrease)/increase in cash and cash**
**equivalents**
(203,794)
Cash and cash equivalents at beginning of year
610,742
**Cash and cash equivalents at end of year**
406,948|**£**
183,475
-
-|
|---|---|
||183,475
427,267|
||610,742|
- 6 -
## **ZOUQ FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_
## **1 Accounting policies**
## **Charity information**
The charity is controlled by its governing document, a deed of trust, and constitutes as a Charitable Incorporated Organisation (CIO).
## **1.1 Basis of preparation**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 7 -
## **ZOUQ FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_
## **1 Accounting policies**
## **(Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.6 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **2 Income from donations and legacies**
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||Donations and gifts|600,000|616,500|
|**3**|**Expenditure on charitable activities**|||
|||**Charitable**|**Charitable**|
|||**activity**|**activity**|
|||**2025**|**2024**|
|||**£**|**£**|
||**Direct costs**|||
||Charitable donations|801,306|432,095|
||**Share of support and governance costs (see note 4)**|||
||Support|1,558|-|
||Governance|930|930|
|||803,794|433,025|
||**Analysis by fund**|||
||Unrestricted funds|803,794|433,025|
- 8 -
## **ZOUQ FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_
## **4 Support costs allocated to activities**
|Travel costs
Governance costs
**Analysed between:**
Charitable activity
**Governance costs comprise:**
Accountancy and legal fees
**5**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements|**2025**
**£**
1,558
930
2,488
2,488
**2025**
**£**
930
930
**2025**
**£**
930|**2024**
**£**
-
930|
|---|---|---|
|||930|
|||930|
|||**2024**
**£**
930|
|||930|
|||**2024**
**£**
930|
## **6 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **7 Staff costs**
There were no staff costs for the year ended 31 October 2025.
## **8 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **9 Creditors: amounts falling due within one year**
|**Creditors: amounts falling due within one year**|||
|---|---|---|
||**2025**|**2024**|
||**£**|**£**|
|Accruals and deferred income|930|930|
- 9 -
## **ZOUQ FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 OCTOBER 2025**_
## **10 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
|**At 1**
**November**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**£**
**£**
**£**
General funds
609,812
600,000
(803,794)
**Previous year:**
**At 1**
**November**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**£**
**£**
**£**
General funds
426,337
616,500
(433,025)|**October**
**2025**
**£**
406,018|
|---|---|
||**October**
**2024**
**£**
609,812|
## **11 Related party transactions**
There were no disclosable related party transactions during the year (2024 - none).
|**12**
**Cash (absorbed by)/generated from operations**
**2025**
**£**
(Deficit)/surplus for the year
(203,794)
**Cash (absorbed by)/generated from operations**
(203,794)|**2024**
**£**
183,475|
|---|---|
||183,475|
## **13 Analysis of changes in net funds**
The charity had no material debt during the year.
- 10 -