## **ALC FOUNDATION** ## **Report of the trustees for the year ending 28/04/2024** (Registered Charity Number 1189258) The Trustees present their annual report together with the financial statements, ALC FOUNDATION did not operate in the previous year and has decided to stick with the accounting period set by HMRC ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **a. CONSTITUTION** The charity was setup by a constitution on 29/04/2020 and is a registered charity (Number 1189258). ## **b. APPOINTMENT OF TRUSTEES** The first trustees were the founding members of the charity. In future they will be elected by way of a special meeting and by way of a vote as per the constitution. In selecting persons to be appointed as trustees, the Trustees shall take into account the benefits of appointing a person who is able by virtue of his or her personal or professional qualifications to make a contribution to the objects or the managements of the Charity. ## **c. ORGANISATIONAL STRUCTURE AND DECISION MAKING** The Board of Trustees provide continuous direction and support to the Charity and its staff with the assistance of the Executive Committee. ## **d. RISK MANAGEMENT** The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operation and finance, and are satisfied that systems and procedures are in place to mitigate our exposures to major risk. ## **e. USE OF VOLUNTEERS** We hope to recruit a number of volunteers throughout the year to help in raising funds and distribution on funds. ## **AIMS AND OBJECTIVES** ## **a.POLICIES AND OBJECTIVES** 1. The Objects of the CIO are: The prevention or relief of poverty in UK and Pakistan by providing: grants, items and services to individuals in need and/or charities, or other organisations working to prevent or relieve poverty.' ## **ACHIEVEMENTS AND PERFORMANCE** ## **a. REVIEW OF ACTIVITIES / LOCK DOWN / CORONAVIRUS** The charity has had limited operation due to lockdown restrictions and the delay in opening a bank account. The charity has obtained funds mainly through unrestricted donations and hope to increase the donations in the following accounting year. ## **FINANCIAL REVIEW** ## **a. RESERVES POLICY** The charity aims to keep cash reserves above £1000 in order to assist in administration expenses. ## **b. PRINCIPAL INCOME** The principal income is donations. ## **PLANS FOR THE FUTURE** ## **a. FUTURE DEVELOPMENTS** We are in the process of developing a website to raise awareness and ask for donations on the website. We also hope to start social media awareness so that people can donate. There will also be charitable events where all income / profits will be used towards donations. Signed on Behalf of the trustees on 14/02/2025: ## Uzma chaudhri ………………………… Mr Uzma Chaudhri (Trustee) Company registrdtion number: CE021693 Charity registration Thumber. 1189258 ALC Foundation (A Company limttrd by thare capital) At)nual R¢port and Financial SiY4temeDts for th¢ Year Ended 30 April 2024 ALC Foundation Contents Reference and Adn)inistrative Details Strate8ic Report Tru5tees' Rew>n 3to4 Statemeni of Financial Activiti Balamce Sh¢d Statement of Cash Flows Notes lo the Financial Sthiements 8t016 ALC Foundation Referellce and Administrative Details CbairniaD Mrs Uzma Chaudhri Charity Registr*tion Number 1189258 Comp*tty RegistrdtioD Number CE021693 The charity is in¢orpor#ted in Englarld. M¢r¢antil¢ House O Lapwing Lathe West Didsbllry Manchester M20 2WS R¢gistsred Office Page I ALC FoundatiOD Strategi¢ Report for the Year Ended 30 April 2024 The ttvste¢s, who ar¢ dir¢¢tors for ¢h¢ purposes of company law, present their strategic rep)rt for the year eDded 30 April 2024, in ¢omplian¢e with s414C of the Companies Act 2006. The strategic re￿)rt was approved by the trustees of the ¢harity 14 February 2025 and sign¢d on its behalf by.. Mrs Lyzma Chaud Chaimian and tr￿%1¢e Page 2 ALC Foundation Trustees, Report The trustees, who are dAreclors for the purw)ses of company law. pres¢Dt the annual report together with the riDancial statements of the charitable company for th¢ y¢ar ended 30 April 2024. Obj•ctiv¢s #nd #rtivities Pmblic benejlt The Advanc¢m¢nt Of Heallh Or Saving Of Lives Th¢ Prevention Or Relief Of Poverty The trustees Conf￿ that they have compli¢d with th¢ requir¢m¢nts of Section 17 of the Charities A¢1 2011 to have due regard to the public benefit &￿Idance published by the Charity Commission for England and Wal¢5. Trn$tv$ and otricer5 The trusiees and officer5 seThing during the year and Since the year end were as follows: Tn]stees: Mrs Uztna Chaudhri Mr Waqas Chaudhri Chaimmn.. Mrs Uzma Chaudhri Sirnttllr< governance And mgt)#gement Finantial instrujoents Objeulvu 4Kdpolict The charity's activitLe5 ¢XPOS¢ It to a number of f￿ancIal risks including credit risk. cash flow risk and liquidity risk. The use of financial derivativ¢s is governed by the charity's poli¢ies approved by the board of trusiees, which provide written principles on the use of finan¢ial derivative5 to manage thes¢ risks. The Charity does Use derivative finan¢ia] i1￿ments for speculative purposes. Cushjlow risk The charity's activiti¢s exp)se il primartly to the fitJan¢ial risks of Changes in foreign currency exchange rales aod iiiterest rdtes. The ¢hariiy uses foreign ¢x¢hange forward ¢ontrd¢ts and interest Me swap ¢ontra£ts to hedge these exposures. Interest b¢artng assets and liabilities are held at fixcd rate to ensure certainty of ¢ash flows. Credll rls'k The charity's princip￿ finaThciaS assets ar¢ bank balances and cash, trade and other receivablts, and investments. The ¢harity's credit risk is primarily attributable to its trdde reteivables. The amounts presented in the balance sheer att net of allowanc¢s for doubt￿7 receivables. An atlowance for impairment is made Whe￿ there is an identified 105s event whicM b&%ed on previous experi¢nc¢, is evidence of a redllction in the re¢overability of the t&sh flows. The credit risk on liquid funds and derivative finanrial in5tNments is limited be¢au5e the counterpani¢s are banks with high ¢redit.rnlings assigned by international credit-rating ag¢n¢ies. Th¢ ¢hariiy 11&8 no significant concenlrdtion of ￿edit risk. with exposure spread ovcr a large number of ¢outiierparties and CUs￿Mers. Page 3 ALC Foundation Trustees, Report Llquidity nsk In order to maintain liquidity to ensure that sufficient ￿ndS are available for ongotng operdtions and future developments. the charity uses a mixhjre o(long-terni arhd short4erni debt tinanee. F￿rther details r¢garding liquidiry risk cah be found in the StaterneTrt of accounting policies in the financial statements. St*¢¢m¢nt of irn$tees' re5ponsibilitit$ The trustees {who are also the dirertOTS of ALC Foundation for the purp05e5 of company law) are Te5P)ttsible for preparin8 the tnLsie¢s' r¢port and the financial statements in accordance with applicable law United Kingdom A¢¢ounting Siandards (United Kingdom Generally A¢¢epted A¢counting Pra¢ti¢e). I￿ludIng FRS 102"The Finaftcial RepTrrtin8 Standard appli¢able in ihe UK and Republic of Ireland.. Company law r¢qMires the trnstee5 to prepare financial ststements for each f￿ancial year. Under ¢ompany la the trnst¢es musi not approve the financial ststements unless they are satisfied that they givc a true and fair view of the state of affairs of the chariiable company and tsf the inCOTning resources and application of r¢sourc¢s, includillg income and expenditure, of the charitable company for that period. In prepsring th¢s¢ financial Statements, the trust¢¢s are required to.. select suitsble accounting p)li¢ies ond apply them consisiently., observe the m¢thods and principles in the Charities SORP- make judgements and ¢siimat¢s that are reasonable and prndenl; slate wh¢ther applicable accounting standards ¢ompri$it)g FRS 102 hav¢ be¢n followeQ subject to any material departure5 diselosed and explained in the financial 51atements; and prepare the financial st*m¢nts on the going ￿ncern basis unles$ it 15 i]wpropri*¢ to presume the charitable c4)mpany will Continue lli busine5S. The trnstees are restK>nsibl¢ for keeping proper attounting records that can dÉsclose with reasonable a¢¢ura¢y at any time the financial w)sition of the charitable company and enabl¢ th¢m to ensure that the financial statements eomply wiih the Companies Act 2006. They a￿ also responsible for safeguarding the &5sets of the charitable company and hen¢¢ for taking rcasonable st¢p$ for the pr¢vention and det¢¢tion of fraud and other iLTegularities. Th¢ trustees are responsible for the maint¢nan¢¢ and integrity of The corporate and flnancial infomiation includ¢J ott the charitable cornpany'$ websit¢. L¢gislaiion goveming the preparation and dissemin8ti0Th of finanGial statements may differ from l¢gislation in other jurisdictions. The anDual report was approv¢d by the trustees of the charity on 14 Februory 2025 and signed on its behalf by.. Mrs Utma Chaudhri Chairman and trustee Page 4 ALC Foundation Statement of Financial Aetivities for the Year Ended 30 April 2024 (Including In¢ome and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restrieted funds Totgl 2024 Note Income and Endowmen15 from: Donalions and legacies 3.822 3,822 Total income 3.822 3,822 Exp¢Dditu¥e on: Charitable a¢tivities (3,7501 (3.730) Total expenditure {3,750) 3,750 Net income 72 72 Net movetnent ID funds 72 72 Reconcili*tlon of funds Total funds brought fonyard 4,076 7,104 11.180 Total funds ¢arried fonvard 13 4,148 Utsres¢ri¢led funds 7,104 Restricted fuDds 11.252 Total 2023 Note Ineome and Endowments frorn: Donations and legacies Total in¢ome 3,285 10,034 13,319 3,285 10,034 13.319 Exp¢nditur¢ on: Charitable activities 2,930 6.630 Total expenditur 3.700) (2.930) (6,630) Net (exp¢nditur¢yin¢ome {4151 7,104 6.689 Net movemttrt in funds {415) 7,104 6.689 ReconciliAtion ol lunds Total fund5 broug￿ fonvard 4,491 4.491 Total funds Canied forW￿d 13 4.076 7,104 11.180 All of the charity's activities derive from continuing operdtions during the above two periods. Th¢ funds breakdown for 2023 is shown in note 13. The notes on pages 8 to 16 forni an integral part of these financial stsi¢m¢nts. Page S ALC Foundation (Registration number: CE021693) Ba12nee Sheet as 4t 30 April 2024 2024 2023 Note Cmrretst assets Cash at bank and in hand 10 11,502 11,380 Credltors: Amounts filling due withill on¢ y¢gr Net *ssets 1250 12001 11,252 11,180 Funds ofthe ¢h8rity: Restrlettd intome fuDds R¢5tricted fiknds 7,104 7.104 Unrestricted iD¢ome fund5 Unrestricted ￿ndS 4,148 4,076 Totsl 13 11.252 11,180 For the financial y¢ar ending 30 April 2024 the charity was entitled to cxemption from audit under se¢titsn 477 of the Compani¢s A¢1 2006 relating to sma]l ¢ompanie5. Diredors. respon5ibilitie5.' Th¢ m¢mb¢rs hav¢ not r¢quircd Ihe chariry ￿ obtain an audii of its accounts for the Ye￿ in question in ac¢ordanre with section 476; and The director5 acknowledge their responsibilities for ¢omplying with the requirements of the Act with respe¢1 to accO￿nting r¢¢ords and the preparation of a¢¢outtts. The financial stat¢m¢ots on pages 5 10 16 were approved by the tDJst¢es, and authorised for i5$ue on 14 February 2025 and signed on their behalf by.. Mrs ULna Chaud c.hairman and trustee The not¢s on pages 8 10 16 forn an integral part of these r]nancia] statements. Page 6 ALC Foundation Statement of Cash Floivs for the Year Ended 30 April 2024 21124 2023 Iyote C*5h flows from operating gctlvliie$ Net cash in¢ome 72 6,689 Working eapital adjustments IDcr¢ase in Creditors 50 50 Net cash flows from OP¢Tating activiti¢s Net InCre￿e it) ¢ash and c&sh equivalents Cash and c&sh ¢quiva]ents at l May Cash and cash equivalents at 30 April 122 6.739 6,739 11.380 4.641 11,502 11,380 All of th¢ ¢ash tiows are d¢rived from continuing op¢rations durin8 the abtsvc two periods. The notes on pages 8 to 16 form an integra] part of these financial statemtnts. Page 7 ALC Foundation Noles to th¢ Financial Statements for the Year Ended 30 April 2024 I Charity stakn5 Th¢ charity is limited by share ¢apita]. inctsrporated in England. The address of its registered otTi¢¢ is.. Mercattiile House l O Lapwing Lane West Did5bury Mallchester M20 2WS These finaTLcial statemeTh15 were authoris¢d for issue by the trustees on 14 Febrnary 2025. 2 Accowiting ￿blicIeS SummAry of significant aecounting policies key aceouDting estim*tts The principal accoumting policies applied in the preparation of these finajjcial statements are set out b¢lgw. These w)licies have been consistenÉly appli¢d to a]1 the year5 prc5ented, unle5$ Otherwise staled. Ststement of tompliante The financial $￿tements hav¢ been prepared ir] ac¢ordan¢e with Accounting and R¢p)rtill8 by Charities.. Statement of Recommended Pradice (applicable to Charitles pre]>arin¥ their a¢¢ounts in a¢¢ordan¢e with the FinaJJ¢ial Reporting Standard applitable ID the and Republic of Ir¢land IFRS 102)) Iis5u¢d in October 2019) {Chariiies SORP IFRS 102)}, The Financial R¢porting StandaTd applicable in the UK and Republic of Lreland (FRS 102) and the cOmpa￿leS Act 2006. B85is of prepargtion ALC. FouTrdation meets the definition of a public benefit entity under FRS 102. Ass¢i$ and liabilities are initially recognised at hiswri¢al ¢o$t or tran$a¢tion valu¢ unless otherwise stated in the relevant accounting policy notes. Going concern The trnslees consider that tl)ere are no materia] un¢ertainties about the ci)arity's ability to continue a5 a goin8 ¢on¢¢m nor a¢)y signifi¢ant areas of un¢¢rtaithty afftci th¢ carryiii& value ofassets held by the charity. Income and endowments All income is recognised once th¢ charity h&s eniitlernent to the incomt. it is probable that the in¢om¢ will be r¢¢eiY¢d athd the amount of the in¢om¢ re¢eivabl¢ ¢an be me&sured reliably. Donalion5 andlegacies Donations ar¢ re¢ogni5ed when the charity has been noiifi¢d in writing of both th¢ amount and settlement date. In the event that * donalion 15 subject to conditions that requiye a l¢vel of perfomiance by lh¢ charity before the harity is entitled to the funds, the income is deferred not Tecogn15ed until either those ¢onditiorts ar¢ fully rnel or th¢ fulfilment of tkns¢ conditions is wholly within the eontrol of the charity and it is probable that these conditioDs will b¢ fulfilled in the rep)rting period. Page 8 ALC Foundation Notes to the Financial Statements for the Year Ended 30 April 2024 Expenditure All expenditure is recognised ortce there is a legal or constru¢tive obligation to that exp¢nditur¢. it is probable s¢ttlement is required and the amount Can be M&￿￿￿ed reliably. All Costs are ailo¢ated to the applicable ¢xpenditllr¢ heading thai aggregat¢ similar c(>sts to thai ¢ate80ry. Where costs ¢annoi be dirertly allributed to parti¢ular headings they have been allo¢ated on a basis consistent with the use of r¢sour¢es. with ¢entral staff costs allo¢ated on th¢ basis of tim¢ spen( and d¢pre¢iation charges allocated on the portion of the asset's us¢. Oth¢r support costs are allocated b&sed on the spread of staff ¢osis. Ch4rilable u¢iiviil Charihible expenditu￿ comprise5 those ¢osts incurred by th¢ ¥lMrity in the delivery of its activities and seryi¢es for its beneficiari¢s. It include$ both cost$ can be allocated dire¢tly to such activities and thos¢ ¢osts of an indirect natyre necessary to support them. GovernaDet costs These include the costs attributabl¢ to the charity's wmpliaDC¢ with ¢ODStitutional artd statutory requirements, in¢ludtng audiL Strdtegi¢ mana8emetrt and In￿¢¢$ meeiings and reimbursed ¢xpenses. Taxation The charity is eon5idered to pass th¢ t¢sis set out in Paragraph I Schedule 6 of thr FitMllc¢ A¢1 2010 and therefore it meets the definÉtiott ol a charitabl¢ company for UK ¢orp)ration tax purpLises. A¢wrdin8ly, the charity is potentially exem0 from taxation in respect of incom¢ or capitsl gal￿S received within categort¢s overed by Chapter 3 P&rt I l of the c.orporaiion fax Act 2010 or Section 256 of the T&xation of Charg¢able Gain5 AGI 1992, ￿ th¢ rxitni that suuh income or gains ar¢ applied excl￿8]velY to charitable purposes. Casb cash equivalents Cash and Cash equivaIents comprise cash on hand and ¢all deposits, and other short-term highly liquid investments that are readily ¢onvertibl¢ to & known amouDi of c&%h and are subj¢¢t to an insi8nifi¢ant risk of ¢han8¢ it) value. Bo*rt)WiDg5 Interest-bearing bO￿)￿ng$ are initially record¢d at fair value, net of transaction ¢osis. Intercst-b¢aring born>wings are subsequently carried at amortised c05t. with the differ¢nce between th¢ proceeds. n¢t of transartion costs, aTEd the amount'du¢ on redernption b¢ing recognis¢d as a rhar8e to the Ststement of FIt￿ttC1￿l A¢tivrties over th¢ period of th¢ relevani borrowing. Interest expense is re£ognised on the basis of the effe¢tiv¢ interest method attd is included in inteTCSt payable atkd similar charges. BoJTowing5 are elassified a5 curr¢rti liabilities unless thc charity has an un¢onditional right to deler settlement of th¢ liability for at least Iwelv¢ months aft¢r th¢ reporting dai¢. Page 9 ALC Foundation Notes to the Financial Statements for the Year Ended 30 April 2024 Foreign exch?￿ge Transactions foreign ClllTencies are re¢ord¢d at the rate of exchange at the date of the transaction. Monetary assets and likbilities denominated in foreign ruffen¢ies at the balan¢¢ sheet d%te are reported at the rates of ex¢hang¢ prevailing ai that d*e. Th¢ results of oversea5 operation5 ar¢ traDslaled at the average rate5 of exchange during the period and their balance sheets at the rates niling at th¢ ba]an¢e sheet date. Exehange difference5 aristng on translation of the opening net assets and ttsults of oversea5 operations are repot1ed in oiher ¢ompreheDsive in¢om¢ and a¢¢umu18tcd in equity (attributed to t)on-controlling interests &$ appropriate). Other exchange differences are r¢¢ognised in th¢ Ststement of Financial Activities in the period in which they aris¢ ¢x¢¢pt for.. 11 exehange diff¢ren¢es on tra￿a(110￿S entered into to hedge certain foreign CU￿encY risks (5¢t above)- 2) exchange differences arising on gains or losses on non-monetary iterns which are recognised in other COtnpreben5ive income. Jnd 31 in the case of the consolidated fittan¢1￿ statements, exchange differen¢es ott monetsry items r¢¢¢ivabl¢ from or payable to a foreign operation for which settlement is neither planned nor likely to IKCUT (therefore fomiing pan of the net inv¢sthieni in the foreign operation). which are recognised in other comprehensiv¢ inctsme and reported ullder equity. Fund gtrneture Unrestricted income funds are general fimds are availabl¢ for us¢ at the tru$t¢es discretion in furtherance of th¢ obje¢tiv¢s of the ¢harity. Designated fi￿dS are unrestricted fimds set aside for specific purposes at the discretion of the trnstees. Restri¢ted incom¢ ￿tId$ are tliose donated for use in a particular area or for specifLC purp95¢5. the us¢ of which i5 re5trictd to that area or purpose. Fin*m¢iil instrumeDts CIu55ific￿knn Financial as5¢ts and financial liabilities are recogoised when the charity becomes a party to the contraetuai pro￿SiOnS of the instrument. Finanria] liabilitle5 and equity insttuments are classified according to the substance of the ¢4)ntractual arrangements en*￿d into. An equity instnlment is any contract that evidences a residual interest in th¢ assets of the clwity after deducting ail of its liabilities. Pagg 10 ALC Foundation Notes to th¢ FiDancial Statements for the Year Ended 30 April 2024 Recogniii￿ll alldn￿¥s#rerne￿e All fit)ancial assets and liabilities are initially measured at transaction pri¢¢ (including transaction ¢osts}. except for those finan¢iat assets ¢las5ified as at fair walue through profit or loss. which ar¢ initially m¢asured at fair value (which is normally the tsansa¢tion price ¢xcluding transaction ¢osts}, ￿lesS rhe arrdngemer)t constilute5 f(nancinb transartion. If an arraxgement constitutes a financing transaction, the fLnan¢ial asset or financial liability is measured at the present v8lu¢ of the future payments di5count¢d * a mark¢1 ]ate of interest for a sin]ilar debt instrument. Financial assets and liabilities are only offset in ihe statem¢nt of financial position when, and only when there exists a [eg￿lY enforceable right to set off the recognised all)ollnt$ and the ¢harity intends either to settle on a n¢t basis, or to realise the asset and settle the liability simUltane¢X￿Jy. Financial a$￿tS are d¢reco￿ls¢d wh¢n and only when a) the contracwal rights tt) the flows from the ftnanctal asset expire or are settled, b} the chariry transfers to a￿>ther party substsntially all of the risks and r¢wards of ownership of the fEnan¢ial asset, or c) the Charity. despiie haying retained some, but ttot all, Signiticant risks and reward$ of owm¢rnhip. h&8 traTLsferred ¢ontrol of the asset to another party. Financial liobiliti¢s are der¢¢ognised o￿lY when the obligation Specified in the wntract is dis¢harged, ¢an¢elled OT expir¢s. P8gell ALC Foundation Notes to the Financial Statements for the Year Ended 30 April 2024 Debl in51ruM*hts D¢bt l]tsln]m¢nts which meet the followitsg conditions are subsequently measured at amortised ¢051 Using the effe¢tive interest meth¢xl.. (al The contractual refyrn to the hold¢r is (i) a r￿ed amount. lil) a p)sitive fjxed raie or a positive variable rnte" or (iii) a combination of a positive or a negative fixed rdte and a rK>silive variabl¢ rate. Ibl The contract n]ay provid¢ for repayments of the prin¢ipal or th¢ return lo The holder (but not both} to be lit)ked to a sill81¢ relevant observable index of general prt¢¢ inflation of the currency in which the debÈ instnunent is d¢nomEnoted. provided su¢h links are not leveraged. (c) The conttHct may provide for a detenninable variation of the Ttturn to the holder during the life of the instrument, provided that (]} the new rate saiisfte5 condition la) and the variation is not contingent on fuwre events other than11 } a change of a ¢ontractval variable rate- (2) 10 prote¢t ¢he holder against ¢redit det¢rioration of the Éssver,. {31 chatt¥es in levies applied by a central bank or arising from ch&n8es in relevant taxation or law- or (li) th¢ new r41e is a market rate of iTrt¢fest and satisfie5 conditlOD (o). (d) There is no ¢ontrdCtual provision thai could, by its ternis, result in the holder losing The principal am¢)unt or any interest atttibutable to the current period or prior periods. (e) Contractual provisions That pennit th¢ issuer to prepay a debt instnunent or permit the holder to put Et back to the issuer before maturity are not contingtnt on future events, oth¢r than to pK)tect the holder agaitast th¢ Credit deterioration of the i$5uer or a change in contrtsl of the Issuer, or to proteci the holdtr or issuer agattjst changes in le&i¢s applied by a central bank or arising from Changes in relevant taxation or law. (fj Contractual provisions may pcmlit the extension of the terni of the debt insttwment, pmvided that the return to tlie holder and any other contra¢tual p]ovistons applicable during ihe extended ten￿ 5ali5fy th¢ conditions of paragraphs (a} to {¢). Debt insttiunents that ar¢ ¢la5sifJ¢d as payable or r¢¢eivabl¢ within one year on initial reco8nition whith med th¢ above ¢onditions are m¢asured at the undis¢ount¢d amount of the ¢ash or other consideration expected to be paid or r¢¢eived. nei of impairn)¢nt. Wilh th¢ exception of some h¢dging insrrnments, other d¢bt iDslThments not meeting thes¢ conditions are measured at fair value through profit or loss. Commikn¢nis to make and receiv¢ kians whi¢h me¢1 th¢ conditions mention¢d Y4bov¢ are m¢8sured at cost (which may be nil} less impairnient. Ittvettments Investments in non-convertibl¢ pref¢rentt sliares and non-puttabl¢ ordinary or preferenee shares {wh¢re 5har¢s are publicly traded or their tair vaJu¢ is reliably M￿sUrable) ar¢ measured at fair va]ue through profit or loss. Wh¢re fair value canthot be measur¢d reliably, investm¢nis are m¢asured ai cost les5 imp&im)ent. Inv¢sftnents in subsidia]ies and asso¢iates ar¢ me&sur¢d at cost less impairnient. For investhients in subsidiaries acquired for coJJsideratlOll Lijclllding the issue of shares qualifying for merger relief, cosi is mtrasured by reference to the noJnina] vaiu¢ of th¢ shares issued plus fair value of other considerdtion. Any premium is ignored. Page 12 ALC Foundation Notes to the Financial Statements for the Yeor Ended 30 April 2024 Derhyrfivefinanciffl in51rnments The Charity uses deTivative fit)ancial in5trument5 to reduce exposure to foreign exchan8e risk arhd interest rdte movements. The charity does not hold or i$su¢ derivative financia] iThstrnments for spe￿18[1v¢ purpos¢5. Derivativ¢s are initially re¢ognised ot fair value at the date a derivative colltract is entered into and are sU￿￿quentIY remeasured to their fair vaiue at ea¢h reporting date. The r¢sulting gain or loss is re¢ognis¢d in staterne￿t of financial activiti¢s imm¢diat¢ly unle55 the derivative is designated and effective a5 a hed81]Ig iThstNm¢nt, in which event the timkng of the recognition in statement of financial a¢tiviti¢s depends on the nawre of the hedge rel￿]0￿$hIp. Falr vAlue The best evidence of fair vdue is a quoted price for an identical asset in an active market. When quoted prices are unavailabl¢, th¢ pri¢e of a recent transaction for an Identic￿ asset provides ¢viden¢¢ of fair value as long as there has noi been a significant chaTh8¢ in ¢¢onomi¢ eircumstan¢es or a sw)ifican¢ lapse of time sin¢¢ the trdnsaction took pla¢¢. If the market is not active and recent transactions of an Jd¢nii¢a] asset on their own are not a good ¢stimate of fair value, the fair value is estimated by using a valuation te¢hnRque. J lJh¢ome from donAtion5 and l¢g8ei¢$ Unrestri¢ted funds General Restritted funds Totol funds Regular giving and Capital donations 3.822 3.822 Total for 21124 3,822 Tot41 for 21123 3,285 10,034 13,319 4 Expenditurt on raising funds Total costs S Eipendiiure ehfiritsble a¢tiviti Unwtritted fvThds Deslglbated Getheral Restricted funds Total funds Note 3,500 3,500 250 GoveTnaDce c05tS 250 Tot¥1 for 2024 250 3,750 Totsl tor 211Z3 3,500 200 2.930 6.630 Page 13 ALC Foundation Notes to Ihe Finaneial Statements for the Y￿r Ended 30 April 2024 Total exp¢ndiiure In addition lo the exp¢nditure analysed above, there ar¢ also governance Costs of £250 (2023 - £21KI) which relate directly io charitable activities. See note 6 tor furth¢r details. 6 An•lysis of governAn¢e and sllpport eosts Govern#ne¢ ¢osts Unrtstric¢¢d lund$ Gtner*l fund5 Audit fees Otb¢r ftts paid to auditors To¢*l for 2024 250 250 250 250 Totsl for 2023 2110 200 Page 14 ALC Foundation Not¢s to the Financial Stst¢mellts for the Year Ended 30 April 2024 7 Nel incomÉnglolltgibiDg resourtes N¢t incoming rcsour¢es hr the year include- 2024 8 Trustees remunerxtion *nd exptn$es 9 T*xatio The tharity is & re8lSter¢d Charity and is therefore ex¢mpt from t&xation. 10 C*sh ¥Nd cash equlvalent$ 21124 2023 Cash at bank 11,502 11,380 I I Creditors: amouDts fxutng due withiD one y￿r 2024 2023 Accnvals 250 200 12 Shgre capltsl 13 Fumds BalaDCe gt I May 2023 IncoDJing resollrees Resourees expendtd Bal4nee #t 30 April 2(124 IIDrestrieted funds Genera] 4.076 3.822 1250) 13,5001 7,648 Designated 13,5001 Totsl Y￿re￿IrIcted funds 4,076 3,822 (3,750) 4,148 R¢striettd funds 7,104 7,104 Totsl funds 11.180 3,822 {3,750 11.252 Page 15 ALC Foundation Notes to the Financial Statements for the Year Ended 30 April 2024 B4lanee at I MAY 2022 Incoming resoiirce8 Reyour¢¢s ¢xp¢nded BalaDee at 311 April 2023 UDrestricted fuDds G¢nera] 4,491 3.285 1200) 7.576 Design*ed 13,500) {3.SIKI) Tot*1 unrestricted funds 4.491 3.285 13,700) 4,076 Restricted 10.034 2,930 7,104 Totsl fuM