Charity rn918tTatlon number 1189023 SAAYA ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 SAAYA LEGAL AND ADMINISTRATIVE INFORMATION T￿St¢e5 MrMSRana Mrs Saba Saqib Mrs SadiaAhmad Ms M Hussain Charlty numb•r 1189023 Prln¢lpal addrpss 2 Crescenl Paradè Uxbridge Middlesèx Unrted Kingthjn V810 OLG Ac¢ountsnts MUSAcc4Juntants knmited 268 Bath Road. Regus Office 148 Slough SL140X SAAYA CONTENTS Page Trustees report Aco)untants' ￿port Statement of financial a(livilJes Balanc* sheet Notes to financHI statements SAAYA TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their report and finanaal slatements for the K*ricyJ ended 31 Decernber 2023. SA4YA w85 registered wilh charity cofflmiSs￿n on 14April 2020 as CIO- Foundabon (Charitable Ino)rporated Organisation). The financral ststemenls have been prepared in atr)Jrdance with the aC￿Unting policie5 Sèt out in note 1 10 1 finanoal statements and cornpty with the charilvs constituti￿ of a charitable in¢orpotaled or9anisation whos& only votiNJ mernbets ore its tharity tnjstees. the Charibes Ac* 2011 and -Accounling and Reporting by Charities: ststemenl of R8￿Mmended Practice appficabl8 lo charilies p￿paring their acxounls Én accordan￿ with the Financtal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" {effec*ve 1 January 2019). ObJecdYe3 and activitl•s The charitys objeds are as folkm: Al The prevention or relief of povèrty in Pakistan. England and W41es by pro¥iding grants, rtems and $eMces to individuals in need and lor charities. or other Organisa￿n5 worknng to p￿VeTht or ￿r￿Ve poverty. B) The relief of finan¢lal hardship among peopta living orworknng in Pakistan. England and Wales by promding such persons with goodslseryices which they could not othemse afftird through lack of means. C) To promote xoal indusK)n for the publ¢ benefft by preventin9 people from be¢omin9 socialty excluded and assisling them lo integrale rnlo sooety. For the purpose of this cause "Sooalty Excluded" means being excluded from society. or part of sooety. as a ￿Ult of being a member of a so¢kilty and economi￿lty deprived communty. D) For the public benefft lo promole Ihe education finduding Social and physical trainir4Jl of peopfe under the a90 of 25 years in Paknstan in such a way as the ¢harity InJslee$ think fft, incauding by.. 1. Awarding lo such person's s¢hoJarships. marrrtenance all￿nCeS or gfdnts lena￿9 al any UnNersity. College or Inslitulion of highgr or lurther education. 2. Providing their education (indudin9 the study of MUS￿ or ¢)ther Arts). to undertake travel in furtherance of that education or lo prepare for entry lo any ocupaknn. trade or profession on leaviThJ any edL￿allOnal establishment. Theie has been no change in I￿ during the year. Th¢ twstet5 have paid due regard lo guidance tssued by the Charity commiss￿ in deadin9 what activities the charity shoubj undertake. AchS&vements and p•rformance Flnanclal rtview The Charity maintains a stab19 finarKial position. During the period, it receNed unreslricted voluntary donations totalling £24.970 (2022.. £21.0361. Total payments of £14.321 12022.. £7,472)were made in respert of donatronsl gfanls lo Charitable inslitLrtton- Noieen andagi I￿￿￿3￿ Twsl (Registered no: 1028MV680)" in Pakistan. Total Iwel of unrestriGted funds as at 31 December 2023 Vds £42,157 (2022: £31,508). 11 is the policy of the ch•nty that unrestricted fun¢Js which have r￿1 been designatsd for a specrfic usè should be maintained at alevel equwalent to betweèrt thre8 and six month's expendtture. The twslees consider that reserves al this level will ensure that. in thg event of a significant drop in funding, they wll be able lo continue thè charity's current a¢tivities while ￿nsideration is given lo ways ui which addilional knnds may be Rised. This level of reseNe5 has been maintained throughout the year. The trustees have assessed Ihe maior iisks to wht¢h the charity is exposed. and ale satisfied that systems are in place lo mitigate exposts￿ to the major risks. StructUrn• gov•mance and management The charity is 8 CIO Foundation and is yovemed by ils o)nststubon of a Charitable I￿)ry￿rated Organisation whose onty voting members ar• its charity tru5tee& SAAYA TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The twstees who served duriThJ the year and up lo the dale of signalure of the financial stalernents were: MrMSRana Mrs Saba Saqib Mrs Sadia Ahmad IAS M Hussain The first charity trustees ar¢ appoinled indèfinilety O.e. for lrfe or unlil they retire). Apart from the firs twstee$. every trustee mu51 ba appointgd for a lemi of 2 years by a ra￿lut￿]n passed at a properly ￿n¥&ned megling of the chaiity Iruslees. In selecting indThidual for apwintment as charity tNstees. the charity truslees musl havo regatd lo the skills. knowledge and experience E*eded for the 8ffedive admini5tr8tion ofthe CIO. trustee5 are tho first twstees of the charity and a￿ appointed indefiniloly (i.e. for Irfe or until they relirel. Charrty can appoint maximum 7 at any time Èn aC￿rdanc& wilh its goveming do¢umenls. Tho charity must have mlnimum of3 trustee5 at any time. None ofthe Iruslees has any benthial intergst in the Charity. Al of th8 INstee$ *e members ofthe charity. Refer•n¢e and adminlstrative d•tsll&: Regbtsred Charity number 1189023 Principal addr05S 2 Crescent Parade Uxbridge, Middlesex United Trthngdom UB10 OLG Th8 Iwstees reFtirt was approved by the Board ofTnJstees. Mrs SadiaAhmad Tru>to• 17 October2024 SAAYA CHARTERED CERTIFIED ACCOUNTANTS. REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SAAYA FOR THE YEAR ENDED 31 DECEMBER 2023 In order lo assist you to your duties under the chai11￿ Act 2011. we have prepared for your approval the financial statements of SAAYA for the year ended 31 December 2023. whrch comprise the stalèmenl of finan￿81 activibes and the refaled notes from the tharivs ¥£ounling re(x)rds and from information and expfanations you hav8 given u As a practising rnember of the AsXo￿lon of Chartered Certnled Aco)untants, we 8f6 subject to ts ethical and other professional requirements whith are del81￿ at httpsJfvAKY.accaglobal.¢omlgblethernberlstandardWrules- and-standardslrulebook.htrnl. This ￿port Is made lo the ¢hariVs trnstees. as a body. ￿ a¢xordance with the term5 of our engagamenllgtter dated 8 October 2021. Our work has been undertaken solefy to prepa￿ for your approval the finanaal stalernents of SMYA and stale those matters that we have agreed lo stsle to the charitys trusteès, as a bjdy, in this report in accordance with Ihe requirements of the AssorAalion of Chartwed Certified Aecountsnts as detailed al https'.11 www.accaglobal.comlo)nlenVdaMlACCA_GSobal￿echn1c•waCulechnlca￿faCIsheel-163.pdf. To the fuliesl exienl pemiimed by law. we do nol a￿ept or assume iesponsibitty to anyono otsr than SAAYA and the charitys trustee$ as a bfyjy, for ourth or for Ihis report. 11 is your duty lo ensure Ihat SAIYA has kepl adequate accounling retsjrds and to prepare sLitulory finanaal statements that give a true and far view of the assets. liabib"bes. fjnanoal posttion and surplus of SMYA. You constder that SAAYA is exempl from the stslutory audit requ¥emenl for the year. and is Ml required to obtain an indgpendent exarninef5 TeFQrt. Wo have not been instructed to cary out an audrt ora review of Ihe finarmial statements of SAAYA. For Ihls reason. we have not verified the acsjracy or complelaness of the afxounling records or infomation and explanations you have given to us and we do not. therefore. express any opinh)n on the stalutory ffinanoal 5tatement$. US Ae¢ountants Umited 17 Othber 2024 Ch*rternd Cerbfi¥d Ac¢ounlants 266 Bath Road. Regus Office 146 Slough SL14DX SAAYA STATEMENT OF FINANCIALACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestri¢ted Unrestrlctsd funds fund$ 2023 2022 Notes Incom• from: Donations and legades 24.970 21,036 Total Income 24.970 21,036 Exp0ndF￿rn on: Chaiitablè activities 14.319 7,502 Total 0X￿nd￿r• 14.319 7.502 Not Income and mov•ment in fund$ 10.651 13.534 Reconclllation of funds: Fund balances al 1 January 2023 31.508 17.974 Fund balan¢os al 31 D•cwnber 2023 42.159 37.508 The slalem&nl olfinaneial al*￿￿8$ indudes all gains and105ses re(4nised in the yoar. Al inc4me and expenditure derive from continuing actNrbe$. SAAYA BALANCE SHEET AS AT 31 DECEMBER 2023 2023 Not8¥ 2022 Curr•nt assets Cash * bank and in hartd 42.159 31.508 Net curr•nt assèts 42,159 31.￿8 Not •ss•ts ox¢luding pen$lon liabihty 42.159 31.508 The funds of the charity Unrestricted funds 42.159 31.508 42.159 31.508 The financAal statements were approvod by the In￿leeS on 17 O¢tober2024 Mrs Sa Truste• ia Ahmad SAAYA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 A¢countlng poll¢les Charity infonnalion SAAYA regislered a5 a charity wfth charity rJ)rnrnisshM on 14 Aprl 2￿20 85 CIO - Foundalion (Charttable Incorporated Organi%alion) hawng charity regthbon number. 1189J23. Tr registered offic• is 2 Crescent Parade, Uxbridge. Middlesex. UB10 OLG. 1.1 Accountlng convenllon The )Inancial statements have been prepared in araVdan￿ %￿th the tha11￿5 Constituknon of a charitable incorporated or9anisation whose onty voting members are its Charity trustees. the Charities A¢t 2011. FRS 102 'The Financaal Reporting Standard applicabk in the UK and Republic of Irèland" I'FRS 102.1 and the Charities SORP "Accounting and Reporting by Charitie5.' Stalement of Rets)mmended Pracbce applicable lo ¢harities prèparing their aLrounts in accordan￿ wrth the FinaTrial Reporting Standard applicable in thè UK and Republi¢ of Ireland IFRS 102). leffectNe 1 January 2019). The charity is a Public Ben9fft Enlity as defined by FRS 102. The charity has taken advantage of the provis•)ns in the SORP for chaiilies not to prepare a Stslemanl of Cash Flows. The finanrAal slalemenls are prepared in sierling. which is the fvnctkinaj ojrrency of th8 charity. Mon&t8ry amounts in these financial statements arè rounded to the nearest £ The finanoal statements have been prepared uTrler the historical ojsl ¢onvention. The prinrypal accounting policies adopte¢J are set out below. 12 Golng ¢on¢ern Al the time of 8pprowng the finani?al statements. the trustees have a reasonable expectatton that tha chafity has adequate resou(￿$ to cnntinue in operational e￿StenCe for the foreseeable fvture. Thus the tru51ees continue to adopl the going oJnc£m basis of ac￿unts.ng in preparing tha financiaj stalemenl& 1.3 Charitablo fund$ Unrestricted fvnds are warlable for use at the thstxetion of the trust￿ in fijrtherance of thèir charitable objedives. Re5tri¢ted funds are subpd to speofic CO￿1￿￿)n$ by donots or grantors as to how they may be used. The purpose$ and uses of the re5tricled funds are set out in the notes to the ffinanr3al statements. Endowmont funds are SLtbp¢t lo speLific ojndibons by donors Ihat tha eaprtat fflusl be maintsined by thè charity. 1.4 Incomg In￿)me is i¢o)gnised when the tharity is legalPy entilled to it after any perforfflan￿ Lxindtlions have been mel, the amounts can be mgasured reliabty. and it is probable that rncome wll be received. Cash donations are recognised on recerpt. Olher donthns are recognised once Ihe charity has been notffied of thè donat￿n, unless perfomiance condrfions require deferral of the amounL Income tax re￿Verable in r8Jation lo donations re¢eNgJ under GiftAid or dpeds of rth￿ant is recognised at the time of donalitsn. Legacies a￿ recognised on receipt or oiherMse il the charity ha5 teen notified of an imp8nding di51ribulTOn, the amount is kl￿Wn. and receipt is expeded. If the amount is not known. the legacy is treated as a ¢onlingenl asset. SAAYA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting pollcl68 Icontinuadl 1.5 Expendilur• Expenditure is rec•)gnised of￿ thgre is a legal ¢¥ rnnstruclive oblwation lo transfer e￿noMiC benefit lo a third party, rt is pmbablo that a transfer of econom￿ bgnefts wil be required in settjemenl. and the arnount of the obligation can be Measu￿ reliably. Expenditu￿ is dassffied by activity. The o)5ts of each aLtvity are made up of the total of direct costs and shared ¢osts, induding support Ca)sts invofved in undertaking eath acbwty. Direct cg)sts attributable lo a single activty 8re allocated directly to that activty. Share(1 costs which contribute to more than onè activty and support costs which are not attributable lo a singlè a¢*wty are appOrt￿ned bethen those arti￿￿es on a basis consistent with the use of ￿sourCes. Central staff costs are allocated on the basis of time spent. and deP￿￿allOn charges are allocated on the porbon of Ihe asseys use. 1.6 C•$h and ca$h equlvalènts Cash and cash equNa19nts indude cash in hand. depoth hell * ¢aN wilh banks, other short-lemi liquid investments with original maturibes of threè months or kss. and bank overdrats. Bank overdrafts a￿ shown wrfhin borrowirvJs in ￿rIen1 liabil￿e$. Baslc financial assèts Basic financial assets. whKh inthde debttNs and cash aryj bank balan￿$. are inilialty mgasured al trdn5acl#Jn price induding transactron ¢osls and are subsequenty carried at amortised eost using the effecbve interest method unléss the arrangement constitutes 8 finanang transactK)n. Whe￿ the transaction is measured al the piesent va￿e of the fLrture receipis discounted at a mathet rate of interest. Finanrial assets dasgfied as receivabbe within one year are not a￿tiSed. Baslc financial liabllitses 88siG financial liabilittes, induding Ixeditors and bank knans are iniliaty retsJgni$ed al transaction price unless the artangement o)nstitutes a finanung transadion. Whe￿ the debt inslrument is measured at the presènt value of the frJiur8 payment5 diso)unted at o m8thel rate of inter9sL Finani>al liabililtes dassified ag payable within one y¢ar are not amortised. Dgbl instruments a￿ subsequty (3rri8d al amorfised cost. using the effe&i%p interést rale method. Trade ¢reditNs ao D￿rgaI￿}n$ lo pay for goods or services lh* have been acquired in the ordinary course of operat¢ons from suppliers. Amounts payable ale da$5ified as ￿Thent liabilities rf payment is due within one year or less. If not. they are presented as nona0jr￿Tht Irabilities. Trade ueditors are recognised initkilty al Iransactton prtt and subsequenuy measured at amortised o)st using the effective interest method. D•rneognition of financlal Ilabllitles Financial liabdibgs a￿ derecognised when the ¢thariVs Ly)ntradu￿ obligalions expira or are dischafged or can¢xll80. 1.7 Employèe benèffts The ojst ol any unused holiday entiuement i8 rewni8ed irt the pgriod in which the employeè's Se￿1¢?5 are Temiinalion ￿fieffts are recogni5ed irnm8(1iatety as an expense when the ¢haiity is ¢Jemonslrabty committed lo temiinale Ihe employment of an emphyee orto provwje termination benefits. SAAYA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 ili¢al accounting ￿tIMate¥ and Judg•m•nts In the application of the chariws accounting pofirAes. the Iw51ees are required to make judgements. esbmales and assumpltons at¥Jul Ihe ￿TryIng amount of assets and liabilities that are not readily apparent from other sources. The estimates and assocBted assumptions are based on his1￿1¢al experience and other factors that are conside￿d to be relevant A(aual re$utts may ￿￿er from these estimates. The estimates and uThJertying assUmpt￿S are re￿&￿Ved on an ongoing basis. Revtsions to accounting estirnates are recognised in the period in the esb.mate is revised where the rewsion affects onty that period. or in the period of the revision and fubjre perths where the re¥iwn aff*s both cuffent and future periods. Incomg from donat5ons and kgaeles Unrnstricted Unr8strf¢ted funds funds 2023 2022 Oonatitins and gifts 24,970 21,036 Charitable activitl•s Charft•ble Charitabl• Exp•nditiJrg Exp&ndltur• 2023 2022 Computer and website cost 30 Grant funding ofaCts￿be$ (see n¢)te 5) 14.319 7.472 14,319 Grdnts payable Chayilable Ch￿table Exp9ndI￿r6 Expenditsjre 2023 2022 Grants to insbtutions.. Khud Mukhtar Retief Foul￿tion Noreen Zlndagi ￿￿are Trust 14.319 7,472 SAAYA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Trustses None of Ihe trustees (or any p9wns wlih them) r￿e1Ve(l any ￿MuneratiOn or beneffts from the charity ¢Juring the year. Taxation The chafity is exgrnpt from taxation on its acli¥ibes be￿use al its income is applted for thatitable purposes. Unxestrlctrd funds The unrestri¢knl funds ofthe d*rity comprise tlw unexpended balan¢es ofdonatiO￿ and grants which are not subje(a lo speafK condthons by donors and granlots a5 to how thay may be used. These include designated fijnds which have been sel as*Jg out of unrestricted lunds by the Iiustees for speafK PU￿0$0$. At 1 January 2023 Incoming resources Rgsour¢•$ èxpended At31 D•c•mb¢r 2023 General funds 31.508 24.970 114,319) 42,159 Prevlous year At 1 January 2022 Incomlng Rosourcgs resource$ expended At31 D¢¢wnber 2022 General funds 17.974 21,036 (7,502) 31,508 Rolated party transactlon¥ There were no disdosable related party transactths during the year P022- none).