CHARITY REGISTRATION NUMBER 1187124 NOUVELLE OPTIQUE FINANCIAL STATEMENTS 31 MARCH 2024 NOUVELLE OPTIQUE FINANCIAL STATEMENTS PERIOD TO 31 MARCH 2024 CONTENTS PAGE Trustees Annual Report Independent Auditors Report Statement of Financial Activities Balan￿ Sheet Statement of Cash flows Notes to the Statement of Cash flows Notes to the Financial Statements 6-10 11 12 13 14 1&17 NOUVELLE OPTIQUE TRUSTEES ANNUAL REPORT PERIOD TO 31 MARCH 2024 The Trusle8s have pleasure in presentlng their r8POrt and finan¢lal statements of the Charity for the period to 31 MARCH 2024. REFERENCE AND ADMINISTRATIVE DETAILS Rogistgrod charlty narno NOUVELLE OPTIQUE CHARITh REGISTRATION number 1187124 Regl8tored offlce: 151 Kimberley Road, Leic8Ster. LE2 1LP THE Trusl88$ The Trustees 88rved the charity dunng the perlod were as follows: IVANCE ELLEN CAROLE SOW A80UBACAR MIDODJI AGBOGBODO Charlty Accountsnts Fusion Accounting Ltd 398A East Park Road, Lelcesler LE5 SHH Charlty Bankors 88rclays Bank 1 Churchill Place, London E14 5HP STRUCTURE, GOVERNANCE AND MANAGEMENT NOUVELLE OPTIQUE is a Charitable Incorporated Organlsatlon {CIO) governed by it8 constitution ex8CUted on 23ffj Dècembgr 2019 and was registered wth the Ch8rfty Commlssion on tho 23rd December 2019. New trustees are appointed by a nomination process and m8jority decision of the trustees. The day-to-day running of the Chaty Is d8￿gated to the Chair of the charty Ms.Iv8nce Ellen Carol6. Trustees meet regulady to make deosions and discuss all aspects of the charity. The charity does not employ any staff aTrJ hence it relies on Ihe voluntary time of the Iwslees to manage the affairs of the charity. No volunleers are employed in the charity. During the period, the charlty had established partner8hip with Nouvelle Optique Franc8 to collaborate and cooperate on joinl projects in pursuit of the Charity obj-ectives in various countries. NOUVELLE OPTIQUE TRUSTEES ANNUAL REPORT (contknts8dl PERIOD TO 31 MARCH 2024 OBJECTIVES AND ACTIVITIES The objectiv6s of the org8nisalion. as set oul in its govemlng d¢xument are.. To relieve financial hardshlp, distress and suffering among poor people and other people In need by means of, bLrt not exclusively. makirKJ grants or loans for providing or paying for items, equlpment, services and facilities. including the provision of food, dothlng, clean water and the establSshment of a hardship fund for the benefit of the sald persons., 12) To advance educatlon for the b8nefil of the poor, the illiterate and th8 g8n8ral public by means of, but not exclusively, the provision or assistance in the provision of educational resources, equlpment, actfvltles and f8cllities. Such a8 schools and training centres; 131 To advance the rellglon of Islam, by means of. but not exclusiv81y, promoting the teachlngs and tenets of1s18m via the provision or as8lStance in the Provision of Islamic places of worship and 1s18mlc education classes in accordance with the teachings of the Quran and Sunn8h of Ihe Prophet Muhammad Ipeace and blassings be upon him) as interpretgd by the Ahle Sunnah Wal Jamaah school of thought. The charity alms to support the relief of financial hardshlp. advance edLKatlon and advanca Islam In various parts of the world. The charity does not have any employees. Al administration and fundraising are wmpleted by trustee volunteers. Thus, volunteers, contrlbLrtlon Is slgnificant to the charity's abllity to undertake all Its actNlties. The charliy measures success In the perth by assessing the level of donallons ralsed, the number of proSecls plann6d and delivered In expendlng those donations, and the number of beneficlarles. The achievements and activities undertaken during the period is shown below, and Indicates a 8uccessful period of raising funds and dellvering benefit lo lens of thousarxls of n8edy people. ACHIEVEMENTS AND PERFORMANCE During the yèar, NOUVELLE OPTIQUE has, through its partner charlty Nouvelle Optique France, raised charitable lunds for various Fyojects and successfully delivered 8 programme of povety relief, hardship relief, Islamic advancement, and educational advancement for needy persons in various countries inclL&Jing Ghana. Senegal, Nepal. ￿TOc￿ and Cambodia. The delfvery of prolects was via four deliver parkn)8rs which reached out to the aforementioned countrles. The achlev8ments included: Construction of 199 water Y￿113 for clean water Drilling of 36 boreholes for clean water Installation of 367 water pumps Inslallalion of 52 water tanks Delivered 177 Aqiqa dislribLrtions lo poor persons Delivered 800 Qurbani distributions to poor persons Construction of 5 schools Constnjclion of 2 orphanages Distribution of 4,300 fruii seedliThJs to the poor to establish a livelihDDd NOUVELLE OPTIQUE TRUSTEES ANNUAL REPORT (conunued) PERIOD TO 31 MARCH 2024 Sponsorship of 60 orphans for eduoation Distribution of 3 hardship grants to poor and needy Construction or rehabilltation of 36 mosques Distribullon of 1.000 tablets to school chIld￿n DistribLrtion of 21,200 books to school children The water wells, boreholes, water pumps. vrdtsr tanks. orphanages, fruit seedlings, Aqh]a. Qurbani and hardship grants 811 helped the charity meets rts objective lo relieve financial hardship. The construction and rehabilitation of mosques helped the Gharity its obj8CtIv8 to advance Islam for public b8nefrt. The school tsblets, books. orphan sponsorship and construction of schools all helped th8 tharity to meet its obje¢Xive to advance educallon for public benefrt. The charlly measures performanc6 of the achievemgnt by delernining Ihe outputs from each project and compared with the outputs stsled in the prop)sals received from delivery partners. This way the trustees are ab18 to ensure that the outputs are in line with the expectstions of the charfty and that the projects are delivering Impact and benefit lo the public. PUBLIC BENEFIT STATEMENT The trustees hav8 considered the gener81 gUidar￿e on public benefit issued by Ihe Charity Commisslon and has taken due regard of that guldance. The trusl8e9 conslder that they are satisfléd that the charity's activities do benefit the public as it is meeting an identifiable need among thos8 in need. The trustees have b8nefitted many needy Individuals and famllles arKi has h8lp8d tharn to allevlale their financial needs in times of desperation in order to sus18in living, advance educatoon via provislon of re80urces there they dld not have the means and advanced Islam by assistance in the provision of places of wor8hlp. GRANT MAKING POLICY The charity gfves grants to partner organi8ations that have financial hardship, education 8ThJ Islamlc projects operallng in the areas of benefrt. Via Ihe partner organlsalions, the needs of the poor are mel for their baslc ￿e￿ssI118$ to sustain lrfe and the establishment of clean water wells and water pumps. The educational and Islamic needs are also met wth grants to establish the facillties or with resources. The crlteria for beneficiaries of partner organisation8 is that the beneficiary is either poor and regiding in a pwr village. or an area affected by a natural disaster, or affected by COVID-19 will no source of income, or an Orphan and does not have the means lo have regular meals, or 8 poor household wlh no source of income or low incoTnB, or part of a large family does not have suff￿lent income lo meet the costs for ba8lC necessities In addition, the grants to partner organisations allows the charity lo establish, repair and sustaln Islamic places of worship and educational institutions. Each partner organisation is selected in accordance with the Due Diligen￿ policy of the charity. NOUVELLE OPTIQUE TRUSTEES ANNUAL REPORT (contInu￿) PERIOD TO 31 MARCH 2024 FINANCIAL REVIEW NOUVELLE OPTIQUE had secured funds from wbllc donors and grant makers {from slster charfties in France) for their activities totalling £1,112,480 during the year. This was a subslanlial increase from previous period {£164,3021 because the sister charity in France received rn0￿ donations for joint prolects. All InGorne from public donors and institutions were directly to the Charity or to the Partngr Charity were made via the banking system arml comprised of restricted funds given for particular projects. The expenditurg for the ye8r was £1,151,263 (2023:£106,223), whlch was prfrnarlly partner grants lotalling £1,144,552 (2023'.£105,361) made to 5 partners of the Charity. This generated a deficlt of £38,783 for th8 Period vthich was met wth prior year surpluse8. At the end of the period the charlty held £25.135 in Restricted reserves and £329 in Unrestricted reseryes - total £25,464. There18 no sèl rèsérves policy as all Surpluses vlll b8 used for future ch8ritsbl8 expenditure. The Income of the charity Is expected 10 stay the sam8 due to Nouvelle Opllqu8 France conductlng further charllable appeals for jolnl projects. PLANS FOR FLMJRE PERIODS Future plans are lo contlnue to raise mor& funds from the publlc and deliver more charitable projects in lin8 with the aims of the Charity whlch are set out above. RESPONSIBILITIES OF THE TRUSTEES The charlws Irustees are responsible for preparing the Tru81ees Annual Report gnd the financlal statements in accordance with applicable law and Unlted Kingdom Accounllng Standards {Unlted Kingdom Generally Accepted Accounting Practice). The law applicable to charllies In EnglarKI and Wales requires the trustèes to prepare fln8n¢lel stalemenls for each financial year thich give a true and fair view of the state of aff8irs of the charity and of the incorning resources and application of resources of the charlty for that perlod. In preparlng these financial Slatemenls, the trustees are required to: select suitable accounting policies and then appty them consistently., observe the methods and principles in the Chartlies SORP., make judgements 8r)d estimates that are reasonable and prudent., slate whether applicable accounting stsndards have been followed, subject to any materlal departures disclosed and explained in the financial statements; prepare the financial statements on the going concem basis unle88 it 18 inappropriate lo presume that the ch8nty will ¢onllnue in operation. NOUVELLE OPTIQUE TRUSTEES ANNUAL REPORT (¢onÉ4w PERIOD TO 31 MARCH 2024 aGcuraw at any time Ihe finandal posltlon of the ch8th and onable them to ensurB Ihat the flnanclal 8tatemerts ¢omply with Charities Act 1993 and the Charity (Accounts and Reports} Regulations 2008. The trustees are alr￿ responsible for safeguarding the assets of the charity and hènce for taking reasonabk stops for the pr8venUon dete¢Uon of fraud and olhor irre9ularities. APPROVAL The report WB5 appfOVOd by the Truslees c And 81gned on thth behall by Ms. Ivance Eilen Carol6 NOUVELLE OPTIQUE INDEPENDENT AUDITORS REPORT PERIOD TO 31 MARCH 2024 IndependentAudltoVs Reportto the Trustees of Nouvelle Optlquè UK Oplnlon We have audtted the financial statsments of Nouvelle Opts'que UK {'the Gharity,) for the year erlded 31 sl March 2024 which comprise Report of the Trustees, Slalement of Flnanclal Actlvitles, Bala￿8 Sheet, the Statement of Cash Flows, and notes to the financkgl stalemenls, Including significanl 8ccountlng pollcies. The financial reporting framework that has been applied in their preparation is appliGab18 law and United Kingdom Accounting Standards, including FRS 102 The FinanGial Reporting Standard applicable In the UK and R8publlc of Ireland (Unlt8d Klngdom Genarally Accepted Accounting Practice). In our oplnlon, the flnancial statemenls.. glve a true and fair vlew of the 8tat8 of the charity's affairs as at 31st March 2024 and of Its Incomlng r8source8 and appllcatton of resources for the year then ended,. hav8 beèn properly prepar8d In accordance wlth United Kingdom G8ner8lly Accepted Accountlng Practic8: and hav8 bgen prepared In accordance with the requlrements of The Charllies Act 2011. Basls lor oplnlon We conducted our audit in accordart8 With Intemational Standard8 on Auditing IUKI IISAS (UK)) and applicable law. Our responsibllities under those standards are further described In th8 Auditor's responsibilities for the audit of the flnancial statements seCt￿n of our rewrt. We are independent of the charlty In accordance with the ethical reqU1￿MentS that are relevant lo our audit of the financial ststements In the UK, including the FRC'S Ethical Standard and we have fulfilled our other ethlcal responslblllties in accordance ￿th these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provbde a basis for our opinion. Concluslons relatlng to golng c0ft￿rn In auditing the financial statements, we have conduded that Ihe directols use of the goir)g concern basis of accounting In the preparation of the financial statements is appropriate. Based on the work we have performed. have not identif￿d any material urthrtainties relating lo events or conditions that. individually or collectively. may cast signtficant doubl on the charity's ablllty to continue as a going (xjncern for a perrod of at least 12 months from vthgn the frnancial statements are authorised for issue. Our responsibilitles and the responsibiltties of the trustees wlth resped to going concern are des¢rlbed in the relevant sections of this reporL NOUVELLE OPTIQUE INDEPENDENT AUDITORS REPORT (Contlnued) PERIOD TO 31 MARCH 2024 Othor infomiation The other information comprises the infomiation included In the annual report, including the trustee8' report, other than the financial statements and our audilorfs report thereon. The trustees ar8 responslble for the other information contained wthin the annual report. Our opinlon on the financial ststaments does not Cover the other infomation and, except to the exlenl otherwis8 explicitly slated In our report, w8 do not express any foryn of assurance conclusion thereon. Our responslbility 18 to read the other Infomiation and, In doing so, consider whether the other Information is maledally Inconsislenl with the financial 8tal8ments or our knowledge obtained In th8 course of the audit, or otherwis8 appears to be materially misstated. If w8 identify such materlal inconsistencies or appaffjnt material misstatements, we are required to d8t8miine whether this glves rlse to a m818rial misstatemant in the finanGial 8tatemenls themselves. If, based on the work we h8ve perfo'rmod, we concludé that there Is a malerlal misststemenl of thls Other Infonra￿on, we are requlred to reFort that fact. We have nolhlng to report in thls regard. Mattors on whlch we ar• roqulrad to report by oxc•ptlon In th8 light of the knowledge and understsndir¥J of Ihe charlty and Its envlronmenl obt8ined in the course of the audil, we have not identified material misststements in the trustees, report. We have nolhlng to report In respect of the followng matters In relation to which the Charities (Accounts and Reports) Regulations 2008 require us lo report to you if, In our oplnion.. the informatlon given in the trustees. Teport is inconsistent In any materlal r6spect with the financial statements., or sufficlent accounting records have not been k8PI: or the financlal statements are not in agreement with the accountlng records: or we have not receivèd all the information and explanations we require for our audit. Responslblllties of trustoes As explained more fully in the trustees. responsibilitles statement set out on page 45, the trustees are responsible for the preparallon of the financial statements and for being Satisf￿ that they give a true and fair view. and for such internal control as the trustees detemilne is necessary to enable the preparation Of financial statements that are free from material misslatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitys abilty to continue as a going concem, disclosing, as applicable, matters related lo going con¢ern and using the going concern basis of accounting unles5 the trustees either intend to liquidate the charity or to ase operations, or have no realistic altematwe but to do so. NOUVELLE OPTIQUE INDEPENDENT AUDITORS REPORT (Continued) PERIOD TO 31 MARCH 2024 Audltor's responslbllltles for the audlt of the financial statements We have beon appointed as audltor under Seotion 144 Charities Act 2011 and reFQrt in accordance with the Act and relevant regulations made or havlng 8ff6Ct thereunder. Our objectives are to obtaln rea8onatAe assuran￿ at)out thther the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditols report that includes our 0￿.nion. Reasonable assurance is a hiqh level of assurance, but is not a guarantee that an audit conducted In accordance with ISAS (UK) wll always detect a material misst8temenl en St exlsls, Misslatemenls can arise from fraud or eThor and 8r8 ¢on8idered material if, Indlvldually or In thé aggregate, théy could reasonably be expected to Influence the economic d8c18k)ns of users tsken on the bas1$ of these ftnanclal statements. Irregularitles, includlng fraud, are Instances of non•compliance wth laws and regulation8, We design procedures In1Sne Imth our rÈsponsibilitie8, OLrtlin6d above, to detect materlal misstatements In respect of irrègularities, InclLKliro fra￿. The ext8nt to which our procedures are capable of detectlng IrregU￿rItIes, InclLKJlng fraud Is detalled below: the engagement partner ensured that Ihe engagem8nt team collectively had the appropriate competence. capabilities and 8kllls to identify or rewnlze non 31,164 Tolal 69,047 (37,883) 31,164 The notes form part of these financial statements -1 NOUVELLE OPTIQUE NOTES TO THE FINANCIAL STATEMENTS PERIOD TO 31 MARCH 2024 1. ACCOUNTING POLICIES a) Basls ot accountlng The accounts have been prepared in accordance wth the Statornent of Recommended Practice.. Accounting and Reporting by Chanties preparing their accounts in accorda￿& Wlth the Financial Reporting Standard applicable in the UK and Republlc of Ireland (FRS 102) Issued on 16 July 2014 and with the Financi81 Reporting Standard applicable in the Unlted Kingdom and Republic of Ireland IFRS 1021 and with the Chari1S8s Act 2011. Th8 charity constitutes a publlc bènefrt entty as defined by FRS 102. bl Fund ac¢ountlng Unrestricted funds are general fund8 that are avallable for use at the trustees, discrellon In furtherance of any of the objectives of the ch8rlty. Rastricted funds are those donated for us8 In a partlcular area or for gpeclflc purpos98, the use of ￿1¢￿ Is restricted lo that area or purpose and the restriction means that the funds can only be used for Specific projects or actlvttl88. c) Incomlng r080urces Voluntary income, including donations, gifts and legacies and grants that provide core funding or Sre of a general natur8, arè wognised where there Is enlit18mgnl, certalnty of receipt and the amount can be mèasured with sufficient reliability. Income from charitable aclivltl88 includes Income recogn188d as eamed (as the related goods or servlces are provided} under contract or where entitlement to grant funding is subject lo specific perfomiance ¢ondilions. Grant income included in this category provid88 fundin9 to support programme activilies and is recognised Whe￿ there is entitlement, certainty of receipt arKI the amount can be measured with sufficient reliability. d) R•50urces expendod Expendlture is recognlsed when a liability is incurred. Funding provided through contractual agreements and performance related grants are recognised as goods or services supplied. Other grant payments a￿ recognised when a constructive obligation arises that results in the payrnent being an unavoidable commitmenL Costs of raising funds are those costs incurred in attracting voluntary income. and those incurred in trading activtlles that raise funds. -1 NOUVELLE OPTIQUE NOTES TO THE FINANCIAL STATEMENTS (continued) PERIOD TO 31 MARCH 2024 2. DONATION & LEGACIES Unrestrided Rostricted Totsl Funds Funds Funds 2024 Total 2023 Donatlon8 Donatlon$ 1,112,480 1,112,480 164,302 TOTAL 1,112,480 1,112,480 164.302 3. EXPENDITURE- Charltable Actlvltlos Grants making is primarily undertaken und8r a p8rtn&rship agreement ￿th five Gharltles b88ed In Morocco. Cambodia, Ghana, Nepal and Senegal as detailed below. Unrestrlct•d Rèstrictad Total Fund8 Funds Funds 2024 Total 2023 Grants Cambodlan Muslim Intellectual Alllanee The Abdul A21z Charllable & Humanitarlan Foundatlon (Ghana) Association Le Nouveau 8onheur (Morocco) HERA Educallonal & Humanitarian Service 191,858 191,858 28,852 733,143 733,143 76,509 56,406 56,406 (Nepal) 12,904 12,904 BARAKTE Hum8nilalre (Senegal) 150,241 150,241 SUB TOTAL Charitable ActivitleB (other) 1,144,552 1,144,552 105.361 Audit Fees Bank Charges Consultancy Fees Accountancy Fees Travel Costs Postsge & Stslionery Costs 4.200 4,200 1,234 500 750 1,234 112 500 750 750 27 27 SUB TOTAL 5,477 6,711 862 TOTAL 5,477 1.145,786 1,151,263 106,223 -1 NOUVELLE OPTIQUE NOTES TO THE FINANCIAL STATEMENTS (contlnued) PERIOD TO 31 MARCH 2024 4. Staff Dlsclosures Total number of staff employed during the period Is O and subsequently no staff member w8s paid more than £60,000 during the period. 5. CREDITORS: Amounts falllng due wlthln on• yoar Trada credltor8 Audit Fee 2024 Accountancy Fees for 2024 Accountancy & Examinatlon Fèès for 2023 4.200 750 750 5,700 8. TRANSFERS BETWEEN FUNDS None 7. CONNECTED PARTh TRANSACTIONS There were no payments made to any Irustee or cx)nn8cted person durfng the perfod for any remuneration or expenses. No donallons were received from trustees durfro the perfod. 17-