**REGISTERED CHARITY NUMBER: 1188890** ## Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2023 for Quilfords Foundation (CIO) Quilfords Foundation (CIO) Contents of the Financial Statements for the Year Ended 31 March 2023 ||Page| |---|---| |Reference and Administrative Details|1| |Report of the Trustees|2| |Statement of Financial Activities|3| |Balance Sheet|4| |Notes to the Financial Statements|5 to 8| |Detailed Statement of Financial Activities|9| Quilfords Foundation (CIO) Reference and Administrative Details for the Year Ended 31 March 2023 **TRUSTEES** Askir Ali Nurjahan Begum **PRINCIPAL ADDRESS** 40 Greenleafe Drive Ilford Essex IG6 1LL **REGISTERED CHARITY** 1188890 **NUMBER CHARITY INCORPORATION** CE021394 **NO** Page 1 Quilfords Foundation (CIO) ## Report of the Trustees for the Year Ended 31 March 2023 The trustees present their report with the financial statements of the charity for the year ended 31 March 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** For the public benefit and relief of those in need by reason of youth, age, ill-health, disability, social or economic disadvantage in particular but not exclusively, by coordinating and developing services such as providing basic necessities, water wells, food packages, educational resources, sanitation systems and medical needs. ## **FINANCIAL REVIEW** ## **Funds** The charity received donations totalling £10,900 (2022:£8,295 ). After payments of outgoing expenses totalling £10,472(2022:£8,605), the charity was left with a Surplus of £428 (2022: deficit of £310 ) for the year. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** Quilfords Foundation (CIO) is an incorporated entity governed under a Constitution of a Charitable Incorporated Organisation. Approved by order of the board of trustees on 15 January 2024 and signed on its behalf by: Mr Askir Ali - Trustee Page 2 ## Quilfords Foundation (CIO) |Statement of Financial Activities|||| |---|---|---|---| |for the Year Ended 31 March 2023|||| |||31.3.23|31.3.22| |||Unrestricted|Total| |||fund|funds| ||Notes|£|£| |**INCOME AND ENDOWMENTS FROM**|||| |Donations and legacies||10,900|8,295| |**EXPENDITURE ON**|||| |**Charitable activities**|||| |Project||10,472|8,605| |**NET INCOME/(EXPENDITURE)**||428|(310)| |**RECONCILIATION OF FUNDS**|||| |Total funds brought forward||641|951| |**TOTAL FUNDS CARRIED FORWARD**||1,069|641| The notes form part of these financial statements Page 3 Quilfords Foundation (CIO) ## Balance Sheet 31 March 2023 |||31.3.23|31.3.22| |---|---|---|---| |||Unrestricted|Total| |||fund|funds| ||Notes|£|£| |**CURRENT ASSETS**|||| |Cash at bank||1,069|641| |**NET CURRENT ASSETS**||1,069|641| |**TOTAL ASSETS LESS CURRENT**|||| |**LIABILITIES**||1,069|641| |**NET ASSETS**||1,069|641| |**FUNDS**|4||| |Unrestricted funds||1,069|641| |**TOTAL FUNDS**||1,069|641| The financial statements were approved by the Board of Trustees and authorised for issue on 15 January 2024 and were signed on its behalf by: Mr Askir Ali - Trustee The notes form part of these financial statements Page 4 Quilfords Foundation (CIO) Notes to the Financial Statements for the Year Ended 31 March 2023 ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, 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 Charities Act 2011. 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 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. Page 5 continued... Quilfords Foundation (CIO) Notes to the Financial Statements - continued for the Year Ended 31 March 2023 ## **2. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. ## **3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** ||Unrestricte| |---|---| ||fund| ||£| |**INCOME AND ENDOWMENTS FROM**|| |Donations and legacies|8,295| |**EXPENDITURE ON**|| |**Charitable activities**|| |Project|8,605| |**NET INCOME/(EXPENDITURE)**|(310)| |**RECONCILIATION OF FUNDS**|| |Total funds brought forward|951| |**TOTAL FUNDS CARRIED FORWARD**|641| ## **4. MOVEMENT IN FUNDS** |**MOVEMENT IN FUNDS**|||| |---|---|---|---| |||Net|| |||movement|At| ||At 1.4.22|in funds|31.3.23| ||£|£|£| |**Unrestricted funds**|||| |General fund|641|428|1,069| |**TOTAL FUNDS**|641|428|1,069| Page 6 continued... Quilfords Foundation (CIO) Notes to the Financial Statements - continued for the Year Ended 31 March 2023 ## **4. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |Incoming|Resources|Movement| |---|---|---| |resources|expended|in funds| |£|£|£| |**Unrestricted funds**||| |General fund
10,900|(10,472)|428| |**TOTAL FUNDS**
10,900|(10,472)|428| |**Comparatives for movement in funds**||| ||Net|| ||movement|At| |At 1.4.21|in funds|31.3.22| |£|£|£| |**Unrestricted funds**||| |General fund
951|(310)|641| |**TOTAL FUNDS**
951|(310)|641| |Comparative net movement in funds, included in the above are as follows:||| |Incoming|Resources|Movement| |resources|expended|in funds| |£|£|£| |**Unrestricted funds**||| |General fund
8,295|(8,605)|(310)| |**TOTAL FUNDS**
8,295|(8,605)|(310)| Page 7 continued... Quilfords Foundation (CIO) Notes to the Financial Statements - continued for the Year Ended 31 March 2023 ## **4. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |||Net|| |---|---|---|---| |||movement|At| ||At 1.4.21|in funds|31.3.23| ||£|£|£| |**Unrestricted funds**|||| |General fund|951|118|1,069| |**TOTAL FUNDS**|951|118|1,069| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|19,195|(19,077)|118| |**TOTAL FUNDS**|19,195|(19,077)|118| ## **5. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 March 2023. Page 8 ## Quilfords Foundation (CIO) |Detailed Statement of Financial Activities||| |---|---|---| |for the Year Ended 31 March 2023||| ||31.3.23|31.3.22| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|10,900|8,295| |**Total incoming resources**|10,900|8,295| |**EXPENDITURE**||| |**Charitable activities**||| |Professional fee|1,000|-| |Event expenses|1,382|-| |Flood|1,000|-| |Ramadan|1,450|1,500| |Education|1,480|1,850| |Housing|3,160|4,535| |Medical|-|500| |Water well|1,000|220| ||10,472|8,605| |Total resources expended|10,472|8,605| |**Net income/(expenditure)**|428|(310)| This page does not form part of the statutory financial statements Page 9