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2020-12-31-accounts

Charity number: 1189352

ALPHA RELIEF FUND

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

ALPHA RELIEF FUND

CONTENTS

Page
Reference and administrative details of the Company, its Trustees and advisers 1
Trustees' report 2 - 5
Independent auditor's report on the financial statements 6 - 9
Statement of financial activities 10
Balance sheet 11
Statement of cash flows 12
Notes to the financial statements 13 - 19

ALPHA RELIEF FUND

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 DECEMBER 2020

Trustees Mohammed Arshad, Trustee Nighat Shahed, Trustee Bilal Shahed, Trustee Arshad Ahmad Shahed, Chair

Charity registered number 1189352 Registered office 57 Queens Road London E17 8QR Independent auditor Barnes Roffe LLP Chartered Accountants Leytonstone House Leytonstone London E11 1GA

Page 1

ALPHA RELIEF FUND

TRUSTEES' REPORT FOR THE PERIOD ENDED 31 DECEMBER 2020

The Trustees present their annual report together with the audited financial statements of the Company for the period 5 May 2020 to 31 December 2020. The annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Company qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

To promote charitable causes by, amongst other acts as the Trustees deem fit, making bequests to registered charities in order promote the following:-

b. Activities undertaken to achieve objectives

The above activities will be carried out by the provision of grants to individuals.

Achievements and performance

a. Review of activities

The charity has complete support of the Trustees and most of its funding requirements are satiated by the Trustees. If the funds of the charity appear to be inadequate at any stage, the Trustees will seek to develop plans for raising monies through other fund-raising activities like sponsorship events etc.

b. Investment policy and performance

The Trustees invest surplus funds in market investments to gain a rate of return to maximise the charity’s objectives. Investments are closely monitored by the Trustees.

Page 2

ALPHA RELIEF FUND

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2020

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The Trustees have established a policy where unrestricted funds are not committed to any other purpose than the working capital of the charity and to the charity’s objectives and policies.

c. Principal funding

Principal funding sources are in the form of voluntary donations.

Structure, governance and management

a. Constitution

Alpha Relief Fund is registered as a charitable company limited by guarantee and was set up by a Trust deed.

The Trust is registered as a charity (with charity number 1189352) and was set up by a Trust Deed on 5 November 2019.

The Trustees, who were Trustees at any time during the financial period, and who were Trustees at the date this report was approved, are detailed below;

Mohammad Arshad Nighat Shahed Arshad Ahmad Shahed Bilal Shahed

There have been no changes in the objectives during the year.

b. Methods of appointment or election of Trustees

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

c. Organisational structure and decision-making policies

The Alpha Relief Fund has four dedicated Trustees who are responsible for the strategic direction and policy of the charity. Although there are no distinct and separate roles between Trustees, all Trustees have an equal say in the decisions of the charity and no one Trustee has overall control. We feel that this organisational structure best meets the polices and objectives of the charity.

Page 3

ALPHA RELIEF FUND

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2020

Structure, governance and management (continued)

d. Policies adopted for the induction and training of Trustees

The Trustees are familiar with the practical work of the charity and take an active role in the work of the charity and the grants it awards.

e. Related party relationships

The charity regards the Trustees and the organisations it makes charitable grants as related parties and transactions between the charity and related parties are described in the notes to the accounts.

f. Financial risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Plans for future periods

The charity plans to continue the activities and objectives outlined above in the forthcoming years subject to satisfactory funding requirements.

Members' liability

The Members of the Company guarantee to contribute an amount not exceeding £1 to the assets of the Company in the event of winding up.

Page 4

ALPHA RELIEF FUND TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2020 Statèmont of Trnstees. responsibilit￿$ The Trustees (who are also the directors of the Company for the Purposes of company18wI are responsible for preparing the Trustees. report and the financial stslements in accordance with applicable law and United Kingdom Accounling Standards Iunited Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial period. Under company law, the Trustees must not approve the financi81 statements unless they are satisfied that they give a true and fair view of the stale of affairs of the Company and of its incoming resources and application of reSoUr￿s, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to.. select suitable aecounting policies and then apply them consistently.. obsetve the methods and principles of the Charities SORP (FRS 1021., make judgments and ac¢ounts'ng estimates that are reasonable and prudent,. stale whether applicable UK Accounting Standards {FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements-, prepare the financial statements on the going con￿rn basis unless il is inappropriate lo presume that the Company will continue ill business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy al any time the financial position of the Company and enable them to ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Dlsclosurg of Inlomiation to audltor Each of the persons who are Trustees at the time when this Tnjstees, report is approved has confirmed that.. so far as that Trustee is aware, there is no relevant audit information of which the charity's auditor is unaware, and that Trustee has taken all the steps that ought lo have been taken as a Trustee in order to be awao of any relevant audit information and to establish that the charity's auditor is aware of that information. Auditor The auditor, Bames Roffe LLP, has indicated his willingness to continue in office. The designated Trustees will propose a motion reappointing the auditor al a meeting of the Trustees. Approved by order of the members of the board of and signed on their behalf by.. Trustees on 2211012021 Arshad A Trustee mad Shahed Page 5

ALPHA RELIEF FUND

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ALPHA RELIEF FUND

Opinion

We have audited the financial statements of Alpha Relief Fund (the 'charitable company') for the period ended 31 December 2020 which comprise the Statement of financial activities, the balance sheet, the statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 6

ALPHA RELIEF FUND

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ALPHA RELIEF FUND (CONTINUED)

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 7

ALPHA RELIEF FUND

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ALPHA RELIEF FUND (CONTINUED)

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We assessed the suceptibility of the company's financial statements to material mistatement, including obtaining an understanding of how fraud might occur by:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Page 8

ALPHA RELIEF FUND INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ALPHA RELIEF FUND {coTrifiNUEDI Use of our report Thi5 report is made solely to the charitable ccrfnpanY5 trustee5, as a body, in accordance with Part 4 of the Chartiies (Accounts and Reports} Regulations 2008. Our audit work has been undertaken so that we might state to the charitable companys trustees those matters we are required to State to them in an audttorfs report and for no other purpose. To the fullest extent pemiittèd by law. we do not accept or assume responsibility lo anyone other than the charitable company and rts membe￿. as a bodyi for our audié work, for this report or for Ihe opinions we have fom)ed. L,, fyt, LLP Barnes Roffe LLP Chartered Accountants Leytonstone House Leytonstone London E111GA Dats.. Bames Roffe LLP are eligible to act as auditors In temis of section 1212 of the Companies Act 2006. Page 9

ALPHA RELIEF FUND

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE PERIOD ENDED 31 DECEMBER 2020

Note
Income from:
Donations and legacies
3
Investments
4
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net movement in funds
Reconciliation of funds:
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2020
£
2,324,288
66,917
2,391,205
53,423
53,423
2,337,782
2,337,782
2,337,782		 Total
funds
2020
£
2,324,288
66,917
2,391,205
53,423
53,423
2,337,782
2,337,782
2,337,782

The Statement of financial activities includes all gains and losses recognised in the period. The notes on pages 13 to 19 form part of these financial statements.

Page 10

ALPHA RELIEF FUND REGISTERED NUMBER: BALANCE SHEET AS AT 31 DECEMBER 2020 2020 Fixed assets Investments Current as$et8 Cash at bank and in hand Creditors.. amounts falling due wthin one year Note 10 2.322,000 20,782 15,IX)01 11 Net current assets 15,782 Total ne¢ assets 2,337,782 Charity fund$ Restricted funds Unrestricted funds 12 12 2,337,782 Total fund8 2,337.782 The entity was enth'tled to exemption from audit Ltnder seelion 477 of the Companies Act 2006. The membets have not required the entity lo obtain an audit for the pertod in question in accordan￿ w¢th sects'on 476 of the Companies A¢1 2006. However, an audit is required in accordance with section 144 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with the requirements of the Act wilh respect lo accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject lo the small companies regime. The financial statements were approved and authorised for issue by the Trustees on 2211012021 and signed on their behalf by.. Arshad Ahmad Shahed Trustee The notes on pages 13 to 19 form part of the* ffnancial stalemenlg. Page 11

ALPHA RELIEF FUND

STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 DECEMBER 2020

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Dividends, interests and rents from investments
Net cash provided by investing activities
Change in cash and cash equivalents in the period
Cash and cash equivalents at the end of the period
The notes on pages 13 to 19 form part of these financial statements		 2020
£
(46,135)
66,917
66,917
20,782
20,782

Page 12

ALPHA RELIEF FUND

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

1. General information

Alpha Relief Fund ("the Charity") is a charity, incorporated in England and Wales. Its registered office is 57 Queens Road, London, E17 8QR.

In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member.

The nature of the charity's operations and principal activities is detailed in the Trustees report.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Alpha Relief Fund meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

Grants payable are charged in the period when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the period end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

Page 13

ALPHA RELIEF FUND

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

2. Accounting policies (continued)

2.4 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the statement of financial activities.

Investments held as fixed assets are shown at cost less provision for impairment.

2.5 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.6 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.

2.7 Financial instruments

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.8 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Investment income, gains and losses are allocated to the appropriate fund.

Page 14

ALPHA RELIEF FUND

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

3. Income from donations and legacies

Donations

4. Investment income Rental income

Unrestricted Total funds funds 2020 2020 £ £ 2,324,288 2,324,288

Unrestricted Total funds funds 2020 2020 £ £ 66,917 66,917

5. Analysis of grants

Donations

Grants to Total
Individuals funds
2020 2020
£ £
44,374 44,374

Page 15

ALPHA RELIEF FUND

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

6. Analysis of expenditure on charitable activities

Summary by fund type

Donations
Insurance costs
Repairs and maintenance		 Unrestricted
funds
2020
£
49,374
3,303
746
53,423		 Total
funds
2020
£
49,374
3,303
746
53,423

7. Analysis of expenditure by activities

Donations
Insurance
Repairs and maintenance		 Grant
funding of
activities
2020
£
44,374
-
-
44,374		 Support
costs
2020
£
5,000
3,303
746
9,049		 Total
funds
2020
£
49,374
3,303
746
53,423

8. Auditor's remuneration

2020
£
Fees payable to the Company's auditor for the audit of the Company's annual accounts 5,000

9. Trustees' remuneration and expenses

During the period, no Trustees received any remuneration or other benefits.

During the period ended 31 December 2020, no Trustee expenses have been incurred.

Page 16

ALPHA RELIEF FUND

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

10. Fixed asset investments

Cost or valuation
Additions
At 31 December 2020
Net book value
At 31 December 2020
Investment properties are stated at their open market value as value by The Trustees.
Income generated from investment properties during the period was £66,917.		 Investment
properties
£
2,322,000
2,322,000
2,322,000
11. Creditors: Amounts falling due within one year
2020
£
Accruals 5,000

Page 17

ALPHA RELIEF FUND

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

12. Statement of funds

Statement of funds - current period

Unrestricted funds
General Funds - all funds
13.
Summary of funds
Summary of funds - current period
General funds
14.
Analysis of net assets between funds
Analysis of net assets between funds - current period
Fixed asset investments
Current assets
Creditors due within one year
Total		 Income
£
2,391,205
Income
£
2,391,205		 Expenditure
£
(53,423)
Expenditure
£
(53,423)
Unrestricted
funds
2020
£
2,322,000
20,782
(5,000)
2,337,782		 Balance at
31
December
2020
£
2,337,782
Balance at
31
December
2020
£
2,337,782
Total
funds
2020
£
2,322,000
20,782
(5,000)
2,337,782

Page 18

ALPHA RELIEF FUND

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

15. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the period (as per Statement of Financial Activities)
Adjustments for:
Donation of investment properties - non-cash movement
Increase in creditors
Net cash provided by operating activities		 2020
£
2,337,782
(2,322,000)
5,000
20,782

16. Analysis of cash and cash equivalents

2020
£
Cash in hand 20,782

17. Analysis of changes in net debt

Cash at bank and in hand Cash flows
£
20,782
20,782		 At 31
December
2020
£
20,782
20,782

18. Related party transactions

During the period, the Trustees donated freehold investment properties with a market value of £2,322,000 to the Charity.

During the period, the Trustees made donations of £2,288 to the Charity.

Page 19