2024-02-29-accounts

OMID TRUST – TRSUTEES’ ANNUAL REPORT – FOR PERIOD 22 JAN 2023 TO 29 FEB 2024

The below is a report for a small charity whose income is under £500,000 (with assets worth less than £3.26million). The report seeks to meet the requirements set out in ' Guidance: Prepare a charity trustees annual report, namely to address:

• “your charity’s name, registration number, address and trustee names

• its structure and details of how it is managed, including how it recruits trustees

• its activities and objectives in the year

• its achievements and performance, including reporting on its public benefit

• a financial review including any debts and details of your reserves policy (if applicable)

• details of any funds held as a custodian trustee”

REPORT

Charity’s name, registration number, address and trustee names

1. Charity’s name: The Omid Trust (‘ the Trust ’)

2. Charity registration number: 1189194

3. Address: 4 Sharon Close, Long Ditton, Surrey, KT6 5HD

4. Trustees: (i) Navid Pourghazi; (ii) Mohammad Ali Pourghazi

The Trust’s structure and details of how it is managed, including how it recruits trustees

1. The Trust is constituted as a limited company and governed by Articles of Association that can be found online. Its Trustees are also the company directors. The Trust is managed by its two Trustees/Directors. It is not currently actively recruiting trustees, though the means for recruiting new trustees/directors is set out in the Articles of Association.

1

Summary of the Trust’s work and objects

1. The Trust is a grant making charity that provides scholarships to Iranian students who have insufficient financial means to study Masters degrees in the UK. The Trust currently partners with Cambridge University, St Edmunds College, and the Cambridge Commonwealth, European and International Trust (“ CCEIT ”) in order to provide the Omid Cambridge Scholarship. This scholarship is for students who are accepted onto Masters degrees at Cambridge University.

2. As a general matter, the Trustees understand that they are to have regard to the guidance issued by the Charity Commission on public benefit.

Where the Trust’s money comes from

1. The Trust’s income comes from its investment in property in Scunthorpe, UK. More specifically, the Trust’s income comes from the rent paid by tenants in that property.

The Trust’s activities and objectives in the past Accounting Year

1. In the past accounting year (22 Jan 2023 to 29 Feb 2024), the Trust was continuing with the redevelopment of its property investment in Scunthorpe. That redevelopment project started around summer 2020. The continuation of this project has meant that the Trust’s money has been tied up and not available for making grants in the usual way. No Omid Cambridge Scholarship was offered or made for the academic year 2023/2024. Nonetheless, some £12,000 has been “spent” by the Trust by setting it aside as a reserve for grants that will be made in the future when the Trust resumes its ordinary grant making activities.

The Trust’s achievements and performance, including reporting on its public beneft

• 10.The paragraphs above are repeated. The Trust’s activities and achievements in the last year have been focussed on improving its investments so as to increase its annual income and financial security and thereby enable it to have a greater public benefit within its objects in future years. Before the redevelopment project began, the Trust’s income from the two tenanted units that it had at that time was around £14,000 p/a. More recently, following the completion of the bulk of the redevelopment work, the income of the Trust has risen to around £67,000 p/a, and it is expected that this may rise to between £80,000 to £85,000 p/a.

2

A fnancial review including any debts and details of your reserves policy (if applicable)

11.See above for details of the financial review.

• 12.In terms of debts, the following individuals had given the Trust interest-free loans to assist the Trust with its outgoings during the redevelopment work. These loans were given at various stages. By the end of the previous accounting year – namely 29 Feb 2024, the outstanding debts were as follows:

• 12.1. Mohammad Ali Pourghazi – £27,500

• 12.2. Navid Pourghazi – £25,000

• 12.3. Khashayar Ghaffarzadeh – £15,000

• 13.By the time of writing, in light of repayments of part of the loans, the outstanding debts have reduced to the following sums:

• 13.1. Mohammad Ali Pourghazi – £15,000

• 13.2. Navid Pourghazi – £10,000

• 13.3. Khashayar Ghaffarzadeh – £10,000

• 14.As at date of 29 Feb 2024, the reserve held by the Trust was £48,000.

Details of any funds held as a custodian trustee

• 15.Not applicable.

15 October 2024

3

Omid Trust Chartty No. 1189194 Company No. 09142393 Trustees, Report and Unaudlted Ac¢ounts 29 February 2024

Omld Trust Contents Pages Trustees, Annual Report Independent Examlner's Rq)ort statement Df Flnandal Artlvltles Summary Income and Expend￿￿re knx)unt Balance Sheet 6t07 Notes to the Accounts 8t0 13 Detsiled Statsment of Flnanclal ACtI￿tTe$ 14to15 Page I

Omld Trust TN$ttss Annual Report The trustees, who are also dlrectors ofthe charfty forthe purposes of the Companles Act 2006, presentthelr report with the unaLtdited financial 5t8tements of the chartyfor the period ended 29 February 2024. REFERENCE AND ADMIN15fRATIVE DETAILS Company NO. 09142393 ChaTIty No. 1189194 Reglstered Office 4 Sharon aose Long Dwtton SurTev r6 5HD Dlr¢ttor5 and Trustees The Dlrectors of the charitable company are Its Trusteesfor the PUTposes of charlty law. The tollowing Dir¥tor5 and Trustees served durfng the year: IResigned 3 February 2024) Iman Kamyab Aji Pourgha21 Navid Pourghazl Ac£ountants Fllntham Mackenzie 277-279 Chi$wick High Road London W44PU The Trltstees are responslble for keeplng proper accounting rpcords that diKlose reasonahle accuracy 8t anytime the financial position of the eharity and to enable them to ensurethat the finandal statement5 Comply wlth the Companies Act 2006. The Trustees are also responsible for safeguardlng the assets of the charity a￿1 hence taklng reasonable Steps forthe prevention and detertlon of fraud and othor Irregulariti•$. The above report ha5 been prepared in att¢Jfdance wlth the provislon5 applicable to companle5 subject to the small cornpanles reglme as set Qlrt In Part 15 of the Companie5 Act 2006 and in accordance with the ch4ritie5 SORP IFRS 1021. stgned on behalf of the board All Pourghazl Truste8 23 Aprll 2024 Page 2

Omid Trust IndePend￿t E￿mInerS Report Independent Examlnerfs Report to the trustees of Omid Trust I report to the charFtytru5tees on my examlnatlon of the fin4hcial statements of Omld Trust forthe period ended 29 February 2024. Responslbllltlos and basls of report As the charity's trustees of the company land alsQ its direttors for the purposes of company13wl you are responsible for the preparation of the finandal ststements in accordance with the requirements of the Companies Act 20061'the 2006 Act. Having satisfièd myself that the finanaal statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are ellgible for Independent examination, I report in respect of my examination of vour diarity's finanual statements as carried ovf under sertlon 145 of the charitie5 Act 2011 Iyhe 2011 Act'}. In carrying out my examination I have followed the Directions glven by the Charlty Commission under section 145151 Ibl of the 2011 Act. Independent examlner's ststement I have completed my examinatKon. I can confimi that no rnaterlal matters have cometo my att8ntlon in ts)nnection with the examlnation giving me cause to belleve: • aecountin% Tect)rds were not kept In accordance with sertlon 386 of the 2006 Aci,. or the flnandal ststements do not accord with those records; or the flnanci81 statements do not comply with the accountine requirements under 5e¢tion 396 of the 2006 Act other ihan any requlrementthat the financlal statements give a Yrue ar￿ fair, vlew which is not matter considered as part of an independent èxarninatioTh,' or the financial statements have not been prepared in accordance with the methods and princlpleg of the statement of Recommended Pra¢tlce for a¢¢ountlng and reportlng by tharities applicableto charities prEparinE their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no GOn￿rnS and have come auoss no other matters in Connection with the examinatlon to which attentlon should be drawn in thls report in order to enable a proper underStBr￿ing of the flnancial statements to be reached. Flintham Mackenzie 277-279 ChSswlck High Road London W4 4PU 23 April 2024 Page 3

Omld Trnst Statsment of Flnan¢i•l Attlvities for the perfod ended 29 February 2024 Unrestrkted fvnds Total funds Totsl funds 2024 2024 2023 ome and endowments from: other trading actlvftles 64,277 64,277 12A82 Total 64,277 64,277 12,482 Expendilure on: Charitable actiwties Other 12,000 26,841 38.841 11000 26,841 38,841 12,000 22,998 54,998 Total Net gains on Investments Net Incomellexpgndlture) Transfers betsKeen funds Net 1ncomellexpendltu￿} befDTe other galnslllosses) 25,436 25,436 122,5161 25,436 25,436 122,5161 Olher galns •nd lo5$8s l+let movement In funds 25,436 25,436 122,5161 Recondliation of funds: Total lunds broughtforward 562,708 562,708 585,224 Total funds carrfed foTh¥8rd 588,144 588,144 562,708 Page 4

Omkl TnBt Summ•ry lJKfjm• Expendlturé Account for the period ended 29 February 21)24 2024 Income 64,2TI 12,482 Grnss Intomefor th¢ perfod Expendlture 64,277 38,460 12,482 34,781 Interost payable 381 217 Totsl expehdlture lorthe perlod Net income/(e%pendl￿rtI beforetix fof the period 38,841 34,998 25,436 {215161 Net Income Ilempndltsffe )fw the period 25,436 122,5161 Page S

Omld Trust Balance Sheet at 29 February 2024 Company No. 09142393 Notes Fixed assets Investments 727,306 727,306 695,806 695,806 rrent assets Debtors Cash at bank and In hand 1,687 27A44 29,131 1126,6111 197,4801 629,826 16,9511 1.769 90S 2,674 {91,2411 188,5671 607,239 {9,8￿ Cyedltors: Amount falllng due wlthln one year Net current Ilabililies Total assets less current liaixlities Credttor5; Bounce back loan io li Provisionsfor liablllties 12 134,7311 134,7311 Net assets exdudlng p¢nslon asset or Ilabllty Totsl het 4ssets 588,144 562,708 588,144 562,708 The lunds of the thartty Rertrlcred funds Unrestrirted funds General fvnds 13 13 405,348 379,912 405,348 379,912 Reserves Revaluation reserve 182,796 182,796 182,796 182,796 Totsl funds 588,144 562.708 Page 6

Omid Tntst Balance Sheet These accounts have beerj prepared In accordan￿ wlth the 5pedal provlslons of Part 15 of the Companies Act 2006 relatlng to small comp8nles. Farthe perh?d ended 29 February 2024the CDTnpany wa5 entltled to exemption under section 477 of the Companies Act 2006 relatin8 to small eompanles, Th¢ Membe￿ l)ave not required the company to obtsin an audit in accordance wfth 5e¢tlon 476 ofthe Companies Act 2006. The directsrs acknowledge thdr respons5bilitie5 for ¢omplying with the requirements of the Companles Act 2(M)6 WFth respect to accountlng records and the prepargtlon of accounts. Approved bytl)e board on 23 April 2024 And signed o Ali Pourghazl Trustee 23 Aprll 2024 Page 7

(knld Trust Note5 to the Accounts for the period ended 29 February 20Z4 l A¢counllng pollcles Basls ol preparatlon The financial Statements have ￿en prepared In acmrdance wlth Accountlng and Reporting by Charities: Statement of Recommended Practlce applicable to tharities preparing thelr a¢courts In attordance wlth the Flnancial Reporting Standard appllcable In the UK and Republlc of Ireland IFRS 102) (effectfve i January 20151- {CharTlies 50RP IFRS 1021), the Flnancial Reportlng Standard 8pplluble in the UK and Republlc of Ireland IFRS 1021 and the Companies Act 2006. ange In basis of account1￿ or to prevlous accounts There has been no thange to the accountlng polic4es {valuation rules and method of ac¢ountlnq) slnce last year and no changes have been made to accounts for prevlous years. Fund a¢countlng Unrestrlcted fvnds These are avallable for use at the discretlon of tlie trt￿ee5 In furtherance of the 8eneral obJects of the charity. These arE unre5trithd funds earmarked by the trustees for partlcular purposes. These are unrestrlcted funds whith include a revaluation reserve repres8ntlTrdthe restatement of Investment assets at their market value5. These are available for use subjert to re5trirtlons Imposed bythe donor OT through tems of an appeal. Designated funds Revaluation lunds Pstrirted furKIs Income Re¢ognitlon of income Income Is Induded In the Ststement of Flnandal Athttles ISOFAI when the charlty bwme5 entstled to, 4nd vlrtually ¢ertaln to recelve, the Income and the amount of the Income can be measured wlth sufflclent rellability. Income wlth related Where Income has related eYpendItu￿ the lThcome and Ydatsd expenditurp Is expendlture reported gross In the SOFA. Donalions and leBacie5 Voluntary Income recelved by way of grants. donatiDll5 and is included In the the SoFAwhen re¢elvable and only when the Chkn has unconditional entitlement to the Incom Tax redalms on Incomefrom tax redalms is Induded In tha SOFA atthe same tlme as the doDiohs and glfts glftldonatlon to whlth it relates. Donated services These are On￿ induded in inmme Iwith an equlvalent amount In expendlturel and facilltles where the benefit to the Charity is reasonabty quantffiable, measurable and matèrial. Volunteer help The value of any volunteer holp recelved Is not induded In the account Investment Income This is Included In the accounts when receivable. Galnslllosses> on Thls include5 any galn or loss resulting fr4yn revaluing investfnents to market value revaluatlon of fixed at the end of the year. assets Galnslllosse5) on Investment assets This indude5 any galn or loss on the sale of Inve51monts. Page 8

Ornid Trust Notes to the Accounts Expendlturr Re¢ognitiori of expenditu Expttnditure is recognlsed on an accruals basls. Expenditure indude5 any VAT whlch cannot be fully recovered, and is reported as part of thÈ expendTture to which it relates. Expendfture on These comprise the costs assooiated with *tracting voluntary Income, fundrdising raising funds tradinB costs and investment management Costs. Expenditun! on These comprise the costs incurred by the tharity in the dellvery of its artivities and charltable clctivlties services In the furtherance of its objects, including the making of grants and governance costs. All grant expenditure Is accounted for on an actual paid basi5 plus an accrual for grant5 that have been approved by the tru5tee5 atthe end otthe year but not yet paid. These Include those costs associated wlth meeting the constitutlonal and statutory requlrements of the Charity, Including any auditlindependent examlnatlon fees, costs Ilnked to the strategic mznaEement of the Charlty, together with a share of other adminlstration costs. Other expendlture These are support Costs not allocated to a partlcular activity. Grants payable Governan￿ Costs Taxation The charity is exempt from corporatlon tsx on Its charltsble activrf(ie5. Freehold Investment property Investment propertles are measured Inltlally at cost and subsequendy * falr value at each ba13nce Sheet date and are not depreciated. All gains or losses are taken to the Ststement of Flnancial Activities as they arise. Trade •nd other debtors Trade and other debtors are reco8nlsed at the settlement amount due after any trade dlscnunt offered. Prepayments are Yalued atthe arnount prepaid net of any trade discounts due. C•sh cash 44ui¥alents Cash and cash equfvalents comprlse o5h at bank 4nd on hand, démand deposits wlth banks and other short-term highly Ilquld investments wlth orSglnal m3turlties of three rnonths or les5 and bank overdrafts. In the statement of flnancial posltlob, bank overdrafLs are shown wlthln lJorrowlng5 or current Ilablllties. In the Statement of Cash Flows, cash and cash equlvalents are shown net of bank overdrafts that are repay3ble on demand form an Integral part ofthe company's cash management. Trade and other credltors Short term creditors are measured at the tT4nsaction prire. Other ueditors and provisions are recognised wherethe charFty has a present obligatton resul￿nE frorn a past event that will probably resum in the transfer of funds to a thlrd party and the amount due to settle the obll8ation can be measured or estimated rellably. Credrtors and provlslons are normally recognised attheir settlement amount after allowtry for anytrade dls¢ounts due. Recelpt gf donated good5, facilltlés Ind servl¢es I donated good5, farilities and services recelved are recognlsed wlthln incomin8 resource5 and expendlture at an estimate of the value tothe charity. Pgge 9

Omid Trust Notes to the Accounts 2 Company slatus The company15 a prNats company Ilmlted by guarante¢ and consequently does not have share capltal. 3 Statement of financlal Actlvltles. prioryear Unrestrlcted funds Total fvnds 2023 Z023 Income and éndOWmeth￿ from: Othertradlng act1th5es Totsl 12,482 12,482 12,482 12,482 Expendityre on: Charltable altI￿tieS 12,000 22.998 other 22,998 Total 34,998 34.998 Net Income 122,5161 122,516} Net income bqfore other fdlnsl{losses) Other galns and losses: Net movemeht in fvnds 1225161 1215161 122,5161 121516) Rocondllotton of fvnd$: Totsl fvnds broughtforward Total funds Carr￿d forward 585,225 585,225 562,709 562,709 4 Incme fram other trBding actlvlti•$ Unrestrfcted Totsl 2024 Totsl 64,277 64,277 64,277 64,277 12,482 12,482 endtture on ¢harltable attlvllies Unrestrltted Totsl 2024 Total 2023 Expendlture on choritoble artlvities 12,OLK) iiooo 6overnqn¢e costs 12,OC ,000 I2.￿0 Page 10

Omid Trn5t Notes to the Accounts 6 Other expenditure Unreslrl¢ted Total Total Z023 2024 Bank loan and overdraft Interest payable Motor and travel costs 381 381 217 87 87 Premises costs 15.546 2,S61 8,266 26,841 15.546 2.561 8,266 26,841 19,242 1,640 1,899 22,998 General admlnistratlve costs Legal and professional costs 7 stsff costs There were no employees during the year. 8 Investments Freehold Investment Property Totsl Cost or revaluatlon At 22January 2023 Improvements to property At 29 February 2024 Net book values At 29 February 2024 At 21January 2023 9 Delxors 695,806 31.500 727,306 695.806 31,5th) 727,306 727,306 695.806 727,306 695,806 2024 2023 Prepayments and ac¢rued Inwme 1,687 1.687 1,769 1,769 10 Qedftors: amounts falllng due wlthln meyear 2024 2023 Loan from trustees editor5lsponsorshlpl VAT Other ereditors Accruals 67,5(10 48,000 1,217 7560 2234 126,611 47,5fKJ 38.190 1252) 2,833 2,970 91,241 Page 11

Omld Trust Notes to the Accounts li Credth)rs', amounts falllng due after more than one year 2024 2023 Bank loans and overdrafts 6,951 6,951 9,￿0 12 Provtslons Onerous Total At 22 Jarbuary 2023 At 29 February 2024 34,731 34,731 34,731 34.731 13 Movement in funds In¢omkn resourc At29 Febrn•ry 2024 {Includlng At22 othÈr January 8alnslloss 2023 expended Re5trfKted lunds: Unrestrkted funds: General fufids 379,912 64,277 138,8411 405,348 Re¥alu8tlon Reseries., Revaluatlon fund 182.796 182,796 Totul revaluation reserves 182,796 182,796 Totsl funds 562.708 64.277 {38,8411 588,144 PurpDses and restrictlcjns in relatlon to the funds: Revaluatlon reseTves Represent the amount by whlch Investments ￿e•d their hi5torfcal ¢ost. 14 Analysls of net assets between fund$ Unresvicted funds Restrlrted funth Total Investments Net current assets Creditors due In more than one year and provisions 727,306 {29,980) 727,306 197,480) 1675(Ki) 141.6821 (41,682) 655,644 167,5001 588,144 Page 12

Omld Trust Notss to the Accounts 15 Rocondllatlon of nel debt At22 Janvary 2023 At29 FÉbruary 2024 Cash flows Cash and cash equlvalents Loon from Trustees l Note 16} 905 [47.5001 146,5951 26,539 120,0001 6,539 27,444 (67,5001 (40,0561 Bank loans 19,8001 19,800) 2.849 2,849 16,gSII 16,9511 Net debt 156,395) 9,388 (47,0071 16 Related party dlsdosur•s Mr N8)rtd Pourghaii £25.OOOILoan from trustee) Mr Ali Pourghazl £27.5001Loan from tnjstsel Mr K Ghafarzadeh £15,OOOILoan from tfusteel Mrlman Kamyab £6,960.48IOther credltorsl Rent Deposlt £600IOther creditor51 Page 13

Omid Trust Detsiled Ststement of Financial Actlvltles for the period ettded 29 Febrnary 2024 UnreslJi¢ted funds Totsl funds Total fvnds 20Z4 2024 20Z3 Incoffle and endowments from: Other tradlng actI￿tieS 64,277 64,277 64,277 64,277 12,482 12.482 Totsl income an4 endowments 64,277 64,277 12,482 ENpeTrditure on: Charitable artivities 12,000 12,000 12,000 I2,￿0 12.000 12,Lb)O Total of expendlture on ¢harltable aetl¥liles 12,000 12,(KJO 12,OC Other éxpendlture Bank loan and overdraft Interest payable 381 381 217 381 381 217 Motor and travel costs Travel and sub5iStence 87 87 Premlses costs Rates Llght, heat and power Premlses repairs and maintenance 8,597 4,693 8,597 4,693 16,233 1,842 2,256 2,256 1,167 15,546 15,546 19,242 Gèneral administrative costs, induding depreclatlon and a¥nortTrsation Bad debt5 Bank (harges General Insurances 102 47 47 2,514 2,561 2,514 2,561 1,538 Le8al and professional costs Accountanry and bookkeeplng ManaEement charges Sollcltoes fees 1740 2,150 3,376 8,266 26,841 2,740 2,150 3,376 8,266 26,841 840 750 309 1,899 Total of expendlture ot othw costs Total expendtture Net galns on Investments 22.998 38,841 38,841 34,998 Page 14

Omld TNst D•talled Statement ol Flnanclal Activities Net Incomel(eNpeMliture) 25,436 25,436 122,516> Nqt Incomellexpendtture) befure other 8alnsl(lossesl Other Gains 25,436 25,436 122,5161 Net movement in lunds 25M36 25,436 122,5161 Reconclllatlon of funds: Total fvnds brought forward 562,708 562,708 585,224 Totjl funds cacried forward 588,144 562,708 Pa8e 15

Omid Trust Chartty No. 1189194 Company No. 09142393 Trustees, Report and Unaudlted Ac¢ounts 29 February 2024

Omld Trust Contents Pages Trustees, Annual Report Independent Examlner's Rq)ort statement Df Flnandal Artlvltles Summary Income and Expend￿￿re knx)unt Balance Sheet 6t07 Notes to the Accounts 8t0 13 Detsiled Statsment of Flnanclal ACtI￿tTe$ 14to15 Page I

Omld Trust TN$ttss Annual Report The trustees, who are also dlrectors ofthe charfty forthe purposes of the Companles Act 2006, presentthelr report with the unaLtdited financial 5t8tements of the chartyfor the period ended 29 February 2024. REFERENCE AND ADMIN15fRATIVE DETAILS Company NO. 09142393 ChaTIty No. 1189194 Reglstered Office 4 Sharon aose Long Dwtton SurTev r6 5HD Dlr¢ttor5 and Trustees The Dlrectors of the charitable company are Its Trusteesfor the PUTposes of charlty law. The tollowing Dir¥tor5 and Trustees served durfng the year: IResigned 3 February 2024) Iman Kamyab Aji Pourgha21 Navid Pourghazl Ac£ountants Fllntham Mackenzie 277-279 Chi$wick High Road London W44PU The Trltstees are responslble for keeplng proper accounting rpcords that diKlose reasonahle accuracy 8t anytime the financial position of the eharity and to enable them to ensurethat the finandal statement5 Comply wlth the Companies Act 2006. The Trustees are also responsible for safeguardlng the assets of the charity a￿1 hence taklng reasonable Steps forthe prevention and detertlon of fraud and othor Irregulariti•$. The above report ha5 been prepared in att¢Jfdance wlth the provislon5 applicable to companle5 subject to the small cornpanles reglme as set Qlrt In Part 15 of the Companie5 Act 2006 and in accordance with the ch4ritie5 SORP IFRS 1021. stgned on behalf of the board All Pourghazl Truste8 23 Aprll 2024 Page 2

Omid Trust IndePend￿t E￿mInerS Report Independent Examlnerfs Report to the trustees of Omid Trust I report to the charFtytru5tees on my examlnatlon of the fin4hcial statements of Omld Trust forthe period ended 29 February 2024. Responslbllltlos and basls of report As the charity's trustees of the company land alsQ its direttors for the purposes of company13wl you are responsible for the preparation of the finandal ststements in accordance with the requirements of the Companies Act 20061'the 2006 Act. Having satisfièd myself that the finanaal statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are ellgible for Independent examination, I report in respect of my examination of vour diarity's finanual statements as carried ovf under sertlon 145 of the charitie5 Act 2011 Iyhe 2011 Act'}. In carrying out my examination I have followed the Directions glven by the Charlty Commission under section 145151 Ibl of the 2011 Act. Independent examlner's ststement I have completed my examinatKon. I can confimi that no rnaterlal matters have cometo my att8ntlon in ts)nnection with the examlnation giving me cause to belleve: • aecountin% Tect)rds were not kept In accordance with sertlon 386 of the 2006 Aci,. or the flnandal ststements do not accord with those records; or the flnanci81 statements do not comply with the accountine requirements under 5e¢tion 396 of the 2006 Act other ihan any requlrementthat the financlal statements give a Yrue ar￿ fair, vlew which is not matter considered as part of an independent èxarninatioTh,' or the financial statements have not been prepared in accordance with the methods and princlpleg of the statement of Recommended Pra¢tlce for a¢¢ountlng and reportlng by tharities applicableto charities prEparinE their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no GOn￿rnS and have come auoss no other matters in Connection with the examinatlon to which attentlon should be drawn in thls report in order to enable a proper underStBr￿ing of the flnancial statements to be reached. Flintham Mackenzie 277-279 ChSswlck High Road London W4 4PU 23 April 2024 Page 3

Omld Trnst Statsment of Flnan¢i•l Attlvities for the perfod ended 29 February 2024 Unrestrkted fvnds Total funds Totsl funds 2024 2024 2023 ome and endowments from: other trading actlvftles 64,277 64,277 12A82 Total 64,277 64,277 12,482 Expendilure on: Charitable actiwties Other 12,000 26,841 38.841 11000 26,841 38,841 12,000 22,998 54,998 Total Net gains on Investments Net Incomellexpgndlture) Transfers betsKeen funds Net 1ncomellexpendltu￿} befDTe other galnslllosses) 25,436 25,436 122,5161 25,436 25,436 122,5161 Olher galns •nd lo5$8s l+let movement In funds 25,436 25,436 122,5161 Recondliation of funds: Total lunds broughtforward 562,708 562,708 585,224 Total funds carrfed foTh¥8rd 588,144 588,144 562,708 Page 4

Omkl TnBt Summ•ry lJKfjm• Expendlturé Account for the period ended 29 February 21)24 2024 Income 64,2TI 12,482 Grnss Intomefor th¢ perfod Expendlture 64,277 38,460 12,482 34,781 Interost payable 381 217 Totsl expehdlture lorthe perlod Net income/(e%pendl￿rtI beforetix fof the period 38,841 34,998 25,436 {215161 Net Income Ilempndltsffe )fw the period 25,436 122,5161 Page S

Omld Trust Balance Sheet at 29 February 2024 Company No. 09142393 Notes Fixed assets Investments 727,306 727,306 695,806 695,806 rrent assets Debtors Cash at bank and In hand 1,687 27A44 29,131 1126,6111 197,4801 629,826 16,9511 1.769 90S 2,674 {91,2411 188,5671 607,239 {9,8￿ Cyedltors: Amount falllng due wlthln one year Net current Ilabililies Total assets less current liaixlities Credttor5; Bounce back loan io li Provisionsfor liablllties 12 134,7311 134,7311 Net assets exdudlng p¢nslon asset or Ilabllty Totsl het 4ssets 588,144 562,708 588,144 562,708 The lunds of the thartty Rertrlcred funds Unrestrirted funds General fvnds 13 13 405,348 379,912 405,348 379,912 Reserves Revaluation reserve 182,796 182,796 182,796 182,796 Totsl funds 588,144 562.708 Page 6

Omid Tntst Balance Sheet These accounts have beerj prepared In accordan￿ wlth the 5pedal provlslons of Part 15 of the Companies Act 2006 relatlng to small comp8nles. Farthe perh?d ended 29 February 2024the CDTnpany wa5 entltled to exemption under section 477 of the Companies Act 2006 relatin8 to small eompanles, Th¢ Membe￿ l)ave not required the company to obtsin an audit in accordance wfth 5e¢tlon 476 ofthe Companies Act 2006. The directsrs acknowledge thdr respons5bilitie5 for ¢omplying with the requirements of the Companles Act 2(M)6 WFth respect to accountlng records and the prepargtlon of accounts. Approved bytl)e board on 23 April 2024 And signed o Ali Pourghazl Trustee 23 Aprll 2024 Page 7

(knld Trust Note5 to the Accounts for the period ended 29 February 20Z4 l A¢counllng pollcles Basls ol preparatlon The financial Statements have ￿en prepared In acmrdance wlth Accountlng and Reporting by Charities: Statement of Recommended Practlce applicable to tharities preparing thelr a¢courts In attordance wlth the Flnancial Reporting Standard appllcable In the UK and Republlc of Ireland IFRS 102) (effectfve i January 20151- {CharTlies 50RP IFRS 1021), the Flnancial Reportlng Standard 8pplluble in the UK and Republlc of Ireland IFRS 1021 and the Companies Act 2006. ange In basis of account1￿ or to prevlous accounts There has been no thange to the accountlng polic4es {valuation rules and method of ac¢ountlnq) slnce last year and no changes have been made to accounts for prevlous years. Fund a¢countlng Unrestrlcted fvnds These are avallable for use at the discretlon of tlie trt￿ee5 In furtherance of the 8eneral obJects of the charity. These arE unre5trithd funds earmarked by the trustees for partlcular purposes. These are unrestrlcted funds whith include a revaluation reserve repres8ntlTrdthe restatement of Investment assets at their market value5. These are available for use subjert to re5trirtlons Imposed bythe donor OT through tems of an appeal. Designated funds Revaluation lunds Pstrirted furKIs Income Re¢ognitlon of income Income Is Induded In the Ststement of Flnandal Athttles ISOFAI when the charlty bwme5 entstled to, 4nd vlrtually ¢ertaln to recelve, the Income and the amount of the Income can be measured wlth sufflclent rellability. Income wlth related Where Income has related eYpendItu￿ the lThcome and Ydatsd expenditurp Is expendlture reported gross In the SOFA. Donalions and leBacie5 Voluntary Income recelved by way of grants. donatiDll5 and is included In the the SoFAwhen re¢elvable and only when the Chkn has unconditional entitlement to the Incom Tax redalms on Incomefrom tax redalms is Induded In tha SOFA atthe same tlme as the doDiohs and glfts glftldonatlon to whlth it relates. Donated services These are On￿ induded in inmme Iwith an equlvalent amount In expendlturel and facilltles where the benefit to the Charity is reasonabty quantffiable, measurable and matèrial. Volunteer help The value of any volunteer holp recelved Is not induded In the account Investment Income This is Included In the accounts when receivable. Galnslllosses> on Thls include5 any galn or loss resulting fr4yn revaluing investfnents to market value revaluatlon of fixed at the end of the year. assets Galnslllosse5) on Investment assets This indude5 any galn or loss on the sale of Inve51monts. Page 8

Ornid Trust Notes to the Accounts Expendlturr Re¢ognitiori of expenditu Expttnditure is recognlsed on an accruals basls. Expenditure indude5 any VAT whlch cannot be fully recovered, and is reported as part of thÈ expendTture to which it relates. Expendfture on These comprise the costs assooiated with *tracting voluntary Income, fundrdising raising funds tradinB costs and investment management Costs. Expenditun! on These comprise the costs incurred by the tharity in the dellvery of its artivities and charltable clctivlties services In the furtherance of its objects, including the making of grants and governance costs. All grant expenditure Is accounted for on an actual paid basi5 plus an accrual for grant5 that have been approved by the tru5tee5 atthe end otthe year but not yet paid. These Include those costs associated wlth meeting the constitutlonal and statutory requlrements of the Charity, Including any auditlindependent examlnatlon fees, costs Ilnked to the strategic mznaEement of the Charlty, together with a share of other adminlstration costs. Other expendlture These are support Costs not allocated to a partlcular activity. Grants payable Governan￿ Costs Taxation The charity is exempt from corporatlon tsx on Its charltsble activrf(ie5. Freehold Investment property Investment propertles are measured Inltlally at cost and subsequendy * falr value at each ba13nce Sheet date and are not depreciated. All gains or losses are taken to the Ststement of Flnancial Activities as they arise. Trade •nd other debtors Trade and other debtors are reco8nlsed at the settlement amount due after any trade dlscnunt offered. Prepayments are Yalued atthe arnount prepaid net of any trade discounts due. C•sh cash 44ui¥alents Cash and cash equfvalents comprlse o5h at bank 4nd on hand, démand deposits wlth banks and other short-term highly Ilquld investments wlth orSglnal m3turlties of three rnonths or les5 and bank overdrafts. In the statement of flnancial posltlob, bank overdrafLs are shown wlthln lJorrowlng5 or current Ilablllties. In the Statement of Cash Flows, cash and cash equlvalents are shown net of bank overdrafts that are repay3ble on demand form an Integral part ofthe company's cash management. Trade and other credltors Short term creditors are measured at the tT4nsaction prire. Other ueditors and provisions are recognised wherethe charFty has a present obligatton resul￿nE frorn a past event that will probably resum in the transfer of funds to a thlrd party and the amount due to settle the obll8ation can be measured or estimated rellably. Credrtors and provlslons are normally recognised attheir settlement amount after allowtry for anytrade dls¢ounts due. Recelpt gf donated good5, facilltlés Ind servl¢es I donated good5, farilities and services recelved are recognlsed wlthln incomin8 resource5 and expendlture at an estimate of the value tothe charity. Pgge 9

Omid Trust Notes to the Accounts 2 Company slatus The company15 a prNats company Ilmlted by guarante¢ and consequently does not have share capltal. 3 Statement of financlal Actlvltles. prioryear Unrestrlcted funds Total fvnds 2023 Z023 Income and éndOWmeth￿ from: Othertradlng act1th5es Totsl 12,482 12,482 12,482 12,482 Expendityre on: Charltable altI￿tieS 12,000 22.998 other 22,998 Total 34,998 34.998 Net Income 122,5161 122,516} Net income bqfore other fdlnsl{losses) Other galns and losses: Net movemeht in fvnds 1225161 1215161 122,5161 121516) Rocondllotton of fvnd$: Totsl fvnds broughtforward Total funds Carr￿d forward 585,225 585,225 562,709 562,709 4 Incme fram other trBding actlvlti•$ Unrestrfcted Totsl 2024 Totsl 64,277 64,277 64,277 64,277 12,482 12,482 endtture on ¢harltable attlvllies Unrestrltted Totsl 2024 Total 2023 Expendlture on choritoble artlvities 12,OLK) iiooo 6overnqn¢e costs 12,OC ,000 I2.￿0 Page 10

Omid Trn5t Notes to the Accounts 6 Other expenditure Unreslrl¢ted Total Total Z023 2024 Bank loan and overdraft Interest payable Motor and travel costs 381 381 217 87 87 Premises costs 15.546 2,S61 8,266 26,841 15.546 2.561 8,266 26,841 19,242 1,640 1,899 22,998 General admlnistratlve costs Legal and professional costs 7 stsff costs There were no employees during the year. 8 Investments Freehold Investment Property Totsl Cost or revaluatlon At 22January 2023 Improvements to property At 29 February 2024 Net book values At 29 February 2024 At 21January 2023 9 Delxors 695,806 31.500 727,306 695.806 31,5th) 727,306 727,306 695.806 727,306 695,806 2024 2023 Prepayments and ac¢rued Inwme 1,687 1.687 1,769 1,769 10 Qedftors: amounts falllng due wlthln meyear 2024 2023 Loan from trustees editor5lsponsorshlpl VAT Other ereditors Accruals 67,5(10 48,000 1,217 7560 2234 126,611 47,5fKJ 38.190 1252) 2,833 2,970 91,241 Page 11

Omld Trust Notes to the Accounts li Credth)rs', amounts falllng due after more than one year 2024 2023 Bank loans and overdrafts 6,951 6,951 9,￿0 12 Provtslons Onerous Total At 22 Jarbuary 2023 At 29 February 2024 34,731 34,731 34,731 34.731 13 Movement in funds In¢omkn resourc At29 Febrn•ry 2024 {Includlng At22 othÈr January 8alnslloss 2023 expended Re5trfKted lunds: Unrestrkted funds: General fufids 379,912 64,277 138,8411 405,348 Re¥alu8tlon Reseries., Revaluatlon fund 182.796 182,796 Totul revaluation reserves 182,796 182,796 Totsl funds 562.708 64.277 {38,8411 588,144 PurpDses and restrictlcjns in relatlon to the funds: Revaluatlon reseTves Represent the amount by whlch Investments ￿e•d their hi5torfcal ¢ost. 14 Analysls of net assets between fund$ Unresvicted funds Restrlrted funth Total Investments Net current assets Creditors due In more than one year and provisions 727,306 {29,980) 727,306 197,480) 1675(Ki) 141.6821 (41,682) 655,644 167,5001 588,144 Page 12

Omld Trust Notss to the Accounts 15 Rocondllatlon of nel debt At22 Janvary 2023 At29 FÉbruary 2024 Cash flows Cash and cash equlvalents Loon from Trustees l Note 16} 905 [47.5001 146,5951 26,539 120,0001 6,539 27,444 (67,5001 (40,0561 Bank loans 19,8001 19,800) 2.849 2,849 16,gSII 16,9511 Net debt 156,395) 9,388 (47,0071 16 Related party dlsdosur•s Mr N8)rtd Pourghaii £25.OOOILoan from trustee) Mr Ali Pourghazl £27.5001Loan from tnjstsel Mr K Ghafarzadeh £15,OOOILoan from tfusteel Mrlman Kamyab £6,960.48IOther credltorsl Rent Deposlt £600IOther creditor51 Page 13

Omid Trust Detsiled Ststement of Financial Actlvltles for the period ettded 29 Febrnary 2024 UnreslJi¢ted funds Totsl funds Total fvnds 20Z4 2024 20Z3 Incoffle and endowments from: Other tradlng actI￿tieS 64,277 64,277 64,277 64,277 12,482 12.482 Totsl income an4 endowments 64,277 64,277 12,482 ENpeTrditure on: Charitable artivities 12,000 12,000 12,000 I2,￿0 12.000 12,Lb)O Total of expendlture on ¢harltable aetl¥liles 12,000 12,(KJO 12,OC Other éxpendlture Bank loan and overdraft Interest payable 381 381 217 381 381 217 Motor and travel costs Travel and sub5iStence 87 87 Premlses costs Rates Llght, heat and power Premlses repairs and maintenance 8,597 4,693 8,597 4,693 16,233 1,842 2,256 2,256 1,167 15,546 15,546 19,242 Gèneral administrative costs, induding depreclatlon and a¥nortTrsation Bad debt5 Bank (harges General Insurances 102 47 47 2,514 2,561 2,514 2,561 1,538 Le8al and professional costs Accountanry and bookkeeplng ManaEement charges Sollcltoes fees 1740 2,150 3,376 8,266 26,841 2,740 2,150 3,376 8,266 26,841 840 750 309 1,899 Total of expendlture ot othw costs Total expendtture Net galns on Investments 22.998 38,841 38,841 34,998 Page 14

Omld TNst D•talled Statement ol Flnanclal Activities Net Incomel(eNpeMliture) 25,436 25,436 122,516> Nqt Incomellexpendtture) befure other 8alnsl(lossesl Other Gains 25,436 25,436 122,5161 Net movement in lunds 25M36 25,436 122,5161 Reconclllatlon of funds: Total fvnds brought forward 562,708 562,708 585,224 Totjl funds cacried forward 588,144 562,708 Pa8e 15