**Charity number: 1188787**
## **MOSTAFAVI FOUNDATION**
**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS**
**FINANCIAL YEAR TO 5 APRIL 2022**
## **MOSTAFAVI FOUNDATION**
## **REFERENCE AND ADMINISTRATIVE DETAILS FINANCIAL YEAR TO 5 APRIL 2022**
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**Trustees** Seyed Mahmoud Mostafavi Majid Mostafavi **Registered charity number** 1188787 **Principal office** 3 Castleacre 15 Hyde Park Crescent London W2 2PT **Independent auditor** First Assurance Services Limited Chartered Accountants & Registered Auditors 219 Kensington High Street London W8 6BD **Bankers** Clydesdale Bank PLC (trading as Virgin Money)
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## **MOSTAFAVI FOUNDATION**
## **TRUSTEES’ REPORT FINANCIAL YEAR TO 5 APRIL 2022**
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The Trustees present their annual report and financial statements of the charity for the year ended 5 April 2022.
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 and "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)" published in October 2019.
## **Objectives and activities**
In accordance with the charity’s governing document, the Trustees shall hold the trust fund upon trust to apply the income, and if and in so far as the Trustees shall think fit in their absolute discretion all or such part or parts of the capital, at such time or times and in such manner as the Trustees shall in their absolute discretion determine to or for the benefit of such one or more charitable purposes bodies trusts associations institutions or organisations in any part of the world as the Trustees may in their absolute discretion determine provided always that no part of the capital of the trust fund shall be so paid or applied without the unanimous consent of all the Trustees and provided further that the Trustees may in their absolute discretion during the period of 21 years from the date of this deed accumulate the whole or any part or parts of the income of the trust fund by investing the same in any investments hereby authorised and so that the accumulations so made shall be held as an accretion to the capital of the trust fund.
The Trustees have complied with the duty in Section 17 of the Charities Act 2011 and referred to the guidance contained in the Charity Commission's general guidance on Public Benefit when reviewing the Charity's aims and objectives and in planning future activities.
## **Grant-making policy**
The Trustees have complete discretion to pay any grants which fall within the charity's objects. The Trustees hold regular meetings to discuss grants, based on applications received throughout the year. The Trustees’ policy is to distribute grants based on the level of investment income they receive.
## **Investment policy**
The Trustees have complete discretion to invest in any form of investment they think fit and have currently invested to strike a balance between capital growth and regular income to enable the charity to fulfil its charitable purposes. The Trustees review the investments at each meeting to ensure they are still appropriate.
## **Achievements and performance**
## **Financial review**
Donations of £1,133,189 were received in the year. Investment income of £275,539 were received in the year. The Trustees authorised the payment of donations totalling £118,500 in the year.
## **Going concern**
The Trustees have considered whether the charity has been affected by the economic impact and restrictions that have ensued following the Coronavirus pandemic that emerged in March 2020. Having considered post year end financial results, investments and cash reserves, and after making enquiries, the Trustees have reasonable expectation that the charity has adequate resources to
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## **MOSTAFAVI FOUNDATION**
## **TRUSTEES’ REPORT FINANCIAL YEAR TO 5 APRIL 2022**
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continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
## **Reserves policy**
It is the policy of the Trustees to maintain reserves of approximately 50% of the Foundation’s annual investment income. The balance on unrestricted funds at 5 April 2022 was £152,060.
## **Risk management**
The Trustees have assessed the major risks affecting the charity under the following categories: compliance with law and regulation, external risks, financial risks, and governance risks. The risks identified by Trustees have been reviewed and systems have been established to mitigate the identified risks. The Trustees intend to continue their existing policies subsequent to the year end.
## **Structure, governance and management**
The Mostafavi Foundation was established by a charitable trust deed dated 15 November 2019.
The Trustees who served during the year were:
Seyed Mahmoud Mostafavi Majid Mostafavi
In accordance with the Trust Deed, during the period of their joint lives the existing Trustees shall unless they shall otherwise agree be and remain the sole Trustees hereof (such period Is hereinafter referred to as “the first period”). If at any time either or both of them shall retire from the trusts or shall die thereupon their children then living (other than any child or children who shall then be a Trustee or Trustees hereof) shall be and become trustees hereof together with the surviving Trustee or Trustees.
After the first period the number of Trustees shall not be less than three. If at any time after the first period owing to retirement or death or removal or otherwise the number of Trustees shall be reduced to less than the minimum required hereby the continuing Trustees shall immediately appoint one or more Trustees to fill the vacancy so occurring and any new Trustees shall in the first instance be appointed from amongst the lineal descendants then living of the Settlor who shall be of full age.
Being family members, incoming Trustees are aware of the aims and objectives of the Foundation and the manner in which the Trustees carry out their responsibilities. New Trustees are fully inducted by the existing Trustees and will be suitably trained in respect of their responsibilities.
## **Statement of responsibilities of the Trustees**
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the Trustees are required to:
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## **MOSTAFAVI FOUNDATION**
## **TRUSTEES’ REPORT FINANCIAL YEAR TO 5 APRIL 2022**
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- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent; and
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the charity’s assets and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the charity and the financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
## **Statement as to disclosure to our auditors**
In so far as the Trustees are aware:
- There is no relevant audit information of which the charity’s auditors are unaware; and
- The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
The trustees’ report was approved by the Board of Trustees and signed on their behalf by:
**Seyed Mahmoud Mostafavi Trustee**
## **23 January 2023**
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**MOSTAFAVI FOUNDATION**
## **INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF MOSTAFAVI FOUNDATION**
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## **Opinion**
We have audited the financial statements of Mostafavi Foundation (the charity) for the year ended 5 April 2022 which comprise the Statement of Financial Activities, Balance Sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charity's affairs as at 5 April 2022 and of its incoming resources and application of resources for the year then ended.
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other Information**
The other information comprises the information included in the trustees’ annual report other than the financial statements and our auditor‘s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have
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**MOSTAFAVI FOUNDATION**
## **INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF MOSTAFAVI FOUNDATION**
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performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report. We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:
- sufficient accounting records have not been kept;
- the financial statements are not in agreement with the accounting records and returns; or
- we have not obtained all the information and explanations necessary for the purposes of our audit.
## **Responsibilities of trustees**
As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
- We enquired of management, which included obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to:
- Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;
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**MOSTAFAVI FOUNDATION**
## **INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF MOSTAFAVI FOUNDATION**
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- The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
- We inspected the minutes of meetings of those charged with governance.
- We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
- We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
- In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibiIities. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the Charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the Charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
**Tahir Ahmedani B.Com FCA (Senior Statutory Auditor) First Assurance Services Limited Chartered Accountants & Registered Auditors 219 Kensington High Street London W8 6BD**
**23 January 2023**
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**MOSTAFAVI FOUNDATION**
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## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2022**
|**Note**
**Income & endowments**
Donations and legacies
2
Investments
3
Total income
**Expenditure**
Raising funds
Charitable activities
Total expenditure
4
Net income / (expenditure)
Transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**Endowment**
**Total funds**
**Total funds**
**funds**
**funds**
**2022**
**2021**
**£**
**£**
**£**
**£**
- 1,133,189
1,133,189 3,971,021
275,539
-
275,539 314,769|
|---|---|
||275,539 1,133,189
1,408,728 4,285,790|
||145,840
-
145,840 143,607
120,300
-
120,300 28,500|
||266,140
-
266,140 172,107|
|||
||9,399 1,133,189
1,142,587 4,113,683
-
- - -|
||9,399 1,133,189
1,142,587 4,113,683
142,661 3,971,021
4,113,683 -|
||**152,0605,104,210**
**5,256,270 4,113,683**|
All recognised gains and losses have been included in the Statement of Financial Activities and the amounts included are derived entirely from the continuing activities of the Foundation.
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## **MOSTAFAVI FOUNDATION**
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## **BALANCE SHEET AS AT 5 APRIL 2022**
|**Note**
**Fixed assets**
Investments
9
**Current assets**
Cash at bank & in hand
Debtors
10
Creditors: amounts falling due
within one year
11
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due
after one year
12
**Total net assets**
**Funds of the charity**
Endowment Funds
Unrestricted Funds
**Total charity funds**|317,738
32,406|**2022**
**£**
9,433,221
333,775|
138,081
9,627|**2021**
**£**
8,505,775
144,208|
|---|---|---|---|---|
||350,143
16,368||147,708
3,500||
||||
||
|||**9,766,997**
4,510,727||**8,649,983**
4,536,300|
|||**5,256,270**||**4,113,683**|
|||5,104,210
152,060||3,971,021
142,661|
|||**5,256,270**||**4,113,683**|
The financial statements were approved by the Trustees on 23 January 2023 and were signed on their behalf by:
**Seyed Mahmoud Mostafavi Trustee**
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**MOSTAFAVI FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022**
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## **1 Accounting policies**
## **a) Basis of preparation**
The financial statements have been prepared in accordance with 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”) and the Charities Act 2011.
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
## **b) Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
## **c) Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
## **d) Donations of gifts, services and facilities**
Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.
On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## **e) Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
## **f) Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of charity.
Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.
Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.
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**MOSTAFAVI FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022**
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Endowment funds are subject to specific conditions by donors that the capital must be maintained by Mostafavi Foundation.
## **g) Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Costs of raising funds comprise of trading costs and the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
- Expenditure on charitable activities includes the costs of delivering services to further the purposes of the charity and their associated support costs.
- Other expenditure represents those items not falling into any other heading.
All expenditure is inclusive of irrecoverable VAT.
## **h) Allocation of support costs**
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance and governance costs which support the Trust's charitable activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities.
## **i) Investment properties**
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the statement of financial activities.
## **j) Fixed asset investments**
- Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income for the year. Transaction costs are expensed as incurred.
## **k) Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **l) Cash at bank and in hand**
- Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **m) Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
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## **MOSTAFAVI FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022**
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## **n) Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2 Income from donations**
|Donations|**Unrestricted**
**Endowment**
**Total Funds**
**Total Funds**
**Funds**
**Funds**
**2022**
**2021**
**£**
**£**
**£**
**£**
-
1,133,189
1,133,189
3,971,021|
|---|---|
||**-**
**1,133,189**
**1,133,189**
**3,971,021**|
## **3 Income from investments**
|Rental income|**Unrestricted**
**Endowment**
**Total Funds**
**Total Funds**
**Funds**
**Funds**
**2022**
**2021**
**£**
**£**
**£**
**£**
275,539
-
275,539
314,769|
|---|---|
||**275,539**
**-**
**275,539**
**314,769**|
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**MOSTAFAVI FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022**
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## **4 Analysis of expenditure**
|**4 Analysis of expenditure**||
|---|---|
|Rent collection, property
repairs and maintenance
charges
Audit fees
Grants|**Raising Charitable Support Governance**
**Total**
**Total**
**funds**
**activities**
**costs**
**costs**
**2022**
**2021**
**£**
**£**
**£**
**£**
**£**
**£**
145,840
-
- -
**145,840**
**143,607**
-
-
1,800
**1,800**
**3,500**
-
118,500
- -
**118,500**
**25,000**|
||**145,840**
**118,500**
**-**
**1,800**
**266,140**
**172,107**|
All of the expenditure was unrestricted.
## **5 Grantmaking**
The Trustees have exercised their right under section 132 of the Charities Act 2011.
## **6 Analysis of governance costs**
|Auditors' remuneration - audit fees|**2022**
**2021**
**£**
**£**
1,800
3,500|
|---|---|
||**1,800**
**3,500**|
## **7 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel**
No remuneration was paid to the Trustees for their services to the Foundation.
The charity trustees were not paid or received any other benefits from employment with the charity in the year neither were they reimbursed expenses during the year. No charity trustee received payment for professional or other services supplied to the charity.
There were no employees during the year.
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**MOSTAFAVI FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022**
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## **8 Taxation**
The charity is exempt from tax as all its income is charitable and is applied for charitable purposes.
|**9 Investments**
**Cost / Valuation**
At the start of the year
Additions
Revaluations
Disposals
At end of the year|**Investment**
**properties**
**£**
8,505,775
927,446
-
-|
|---|---|
||**9,433,221**|
The trustees believe the fair value of the above properties at 5 April 2022 is as stated above.
## **10 Debtors**
|Other debtors
**11 Creditors: amounts falling due within one year**
Accruals|**2022**
**2021**
**£**
**£**
32,406
9,627|
|---|---|
||**32,406**
**9,627**|
||**2022**
**2021**
**£**
**£**
16,368
3,500|
||**16,368**
**3,500**|
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**MOSTAFAVI FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022**
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|**13 Analysis of cash**
Cash at bank and in hand
**12 Creditors: amounts falling due after one year**
Other creditors|**2022**
**2021**
**£**
**£**
317,738
138,081
**2022**
**2021**
**£**
**£**
4,510,727
4,536,300
**4,510,727**
**4,536,300**|
|---|---|
||**317,738 138,081**|
|**14 Movements in**|**funds**||||||
|---|---|---|---|---|---|---|
||
**At the start**||||**Gains and**|**At the end**|
||**of the year**|**Income**|**Expenditure**|**Transfers**|**losses**|**of the year**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|Endowment funds|3,971,021|1,133,189|-|
-|-|**5,104,210**|
|Unrestricted funds|142,661|275,539|
266,140|
-|-|**152,060**|
|**Total funds**|**4,113,683**|**1,408,728**|
**266,140**|
**-**|**-**|**5,256,270**|
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**MOSTAFAVI FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022**
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## **15 Previous reporting period information**
## **15a Detailed comparatives for the statement of financial activities**
|**Income & endowments**
Donations and legacies
Investments
Total income
**Expenditure**
Raising funds
Charitable activities
Total expenditure
Net income / (expenditure)
Transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**Endowment**
**Total funds**
**Total funds**
**funds**
**funds**
**2021**
**2020**
**£**
**£**
**£**
**£**
-
3,971,021
3,971,021
-
314,769
-
314,769
-|
|---|---|
||314,769
3,971,021
4,285,790
-|
||143,607
-
143,607
-
28,500
-
28,500
-|
||172,107
-
172,107
-|
|||
||142,662
3,971,021
4,113,683
-
-
-
-
-|
||142,662
3,971,021
4,113,683
-
-
-
-
-|
||**142,662**
**3,971,021**
**4,113,683**
**-**|
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**MOSTAFAVI FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022**
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## **15b Analysis of expenditure of previous reporting period**
|Rent collection, property
repairs and maintenance
charges
Audit fees
Grants|**Raising Charitable Support Governance**
**Total**
**Total**
**funds**
**activities**
**costs**
**costs**
**2021**
**2020**
**£**
**£**
**£**
**£**
**£**
**£**
143,607
-
- -
**143,607**
**-**
-
-
-
3,500
**3,500**
**-**
-
25,000
- -
**25,000**
**-**|
|---|---|
||**143,607**
**25,000**
**-**
**3,500**
**172,107**
**-**|
## **15c Movements in funds for the previous reporting period**
|Endowment funds
Unrestricted funds
**Total funds**|
**At the start**
**of the year**
**Gains and**
**losses**
**At the end**
**of the year**
**Income Expenditure Transfers**
**£**
**£**
**£**
**£**
**£**
**£**
-
3,971,021
-
-
-
**3,971,021**
-
314,769
172,107
-
-
**142,662**|
|---|---|
||**-**
**4,285,790**
**172,107**
**-**
**-**
**4,113,683**|
5
17