FARANIS TRVST. REGISTERED CHARITY L1894B8 YEAII ENOED 29 APRIL 2024 CHARITABLE INCORPORATED ORGANISATION Faranis Trust Reglster& Charity Number 1189488 Trustees, Annual Report and Financial Statements For the year ended 29 April 2024 BASIS OF PR£PARATIO REGISTERED OFFICE ReceSpts and payrnents 2nd Floor, Farani Taylor, Mermaid Ho%Jse, 2 Puddle Dock, Londors Trustees'Annual Repthtand F1nancialStaternp￿lS FARANIS TRUST. REGisfÉRED CHAR1TY IL89488 YEAR ENDED 29 APRIL 2024 01 Legal and Administrative Inforniation Charity name Faranis Trust Charity registration number 1189488 Legal form Charitable Incorporated Organisation ICIOI, foundation model Date registered 14 fvTay 2020 Goveiningdocument Constithtion (Ch￿lty Commission foundation model, adopted on registration) Reglstered office 2nd Floor, FarattiTaylor, Mermaid House, 2 Puddle Dock, London Trustees Farhan F8rani (Chair), appointed 14 May 2020 Umar I(han (Trnstee), appolnted 14 May 2020 Bankers Lloyds Bank plc, sort code 30-62.60, account 39146968 Independent examiner Not required- gross income below £25,000 (see nots 6) A5 8 foundotion model GIO, the ch&rityHs onlyYotlngnJenJhers are its charitytrnstees. 02 Structure. Governance and Management Governing document. Faranis Trust is a Charitable Incorporated Organisation (foundation model), registered with the Charity Commission for England and Wales on 14 May 2020. It is governed by its constitution. As a foundation model CIO, its only voting members are its charity trustees. Charltable objects. The object of the CIO is the prevention or relief of poverty anywhere in England by providing grants, items, supplies, or such other means. as the trustees deterniine. to individuals in need, or other organisations working to prevent or relieve poverty. Appolntment of trustees. Trustees are appointed in accordance with the charity's constitution. New trustees receive an induction covering the charity's objects, its constitution and their duties as charity trustees. Aanagernent. The charity has no employees. Its work is carried out by the trustees on a voluntary basis. The tNstees who served during the year are listed in the Legal and Administrative Information above. T￿Steel Annu31REPOrtand Fina￿la1 StatEmeTrts FARANIS TRUST. REGISTEREO CHARITY 1189488 YEAR E14DED 29 APRIL 2024 Risk management. The trustees have consid￿ed the principal risks to which the charAty IS exposed. During the period the charity's activity was limited to maintainkng its attangements, and the principal risks addressed were ensuring sound financial Control and timely regulatory compliance, for which the trustees have put appropriate arrangements in place. 03 Objectives and Activities Objects and public benefit. The charxty's object is the prevention or relief of poverty, as set out above. The trustees eonfirni that they have had regard to the Charity Commission's guAdance on public benefit. During the year the charity was preparing to deliver public benefitthrough its planned charitable activities. REVIEW OF THE YEAR The CIO remained in its development phase during the year. The trustees continued to put in place the arrangements needed to deliver the d￿rIty'S objects. No charktable programmes were carried out during the year, no donation was received into the charitys bank account, and no bank charges were incurred. 04 Financial Review The results for the year are set out in the financial statements on the following pages. Reserves policy. The trustees consider the funds held at the year end to be appropriate for the charity's aCt[￿tieS at this stage of its development. A formal reserves policy will be adopted as the charity's programmes commence. Going concern. The trustees are satisfied that the charity can meet its liabilities as they fall due and have prepared the financial statements on a going concern basis. os Plans for Future Periods The trustees intend to commence the charity's operational programme- the funding of a school and related welfare activities in Pakistan- which began after the year end in July 2025. The trustees intend that all charitable funds will be received into and paid from the charity's own bank account, and that Monitoring and reporting arrangements wtll be developed as activity grows. TnJstees'Annv¥l Report¥nd Ftnancial Statements FARANIS TRUST. REGISTEREO CHARITY 1189488 YEAR ENDED 29 APRIL 2024 06 Statement of Trnstees, Responsibilities The trustees are responsible for preparing the Trustees, Annual Report and financial statements which give a proper record of the charity's receipts and payments and of its assets and liabilities, in accordance with the Charities Act 2011. In preparing these financial statements the trustees have selected suitable accounting policies and applied them consistently) and have prepared the accounts on a going concern basis. The trustees are responsible for keeping proper accounting records and for taking reasonable steps to safeguard the assets of the charity. APPRO¥AL Approved bythe trustses on D8 and signed on their behalf: Signed Name Pogtion ITru5leel TtlJstees'Annu)l Reportand Flnanclal 5tstements FARANIS TRUST. REGISTERÉD CHARITY k189488 YEAR ENDED 29 APRIL 2024 FINANCIAL 5TATEMeMTS Receipts and Payments Account For the year ended 29 April 2024 IIOTE 2024 £ 2023 £ RECÉIPTS Donation8 and gifts 0.00 0.00 Total recelpts 0.00 0.00 PAVMENTS Bank charges 0.00 Total payments 0.00 0.00 IIÉT MOVÉMÉNT IN FUNDS Surplus l (deficit) for the ywdr 0.00 0.00 Cash funds brought forward 0.00 0.00 Cash funds C￿rIed fonvard 0.00 0.00 Thenotes on thefull0￿llgPages form part ofthesefinRnciaJstatements. T￿slee5.￿1￿UèI Reportan(E FiM&ntlal St&temernts FARANIS TRUST. REGISTERED CHARITY 1189488 YÉAR ENOED 29 APRIL 2Q24 FINANCIAL STATEMEIITS Statement of Assets and Liabilities As at 29 April 2024 NOYE 2024 £ 2023 £ ASSETS Cash at bank- Lloyds account 0.00 0.00 Total assets 0.00 0.00 FUNOS OF THE CMAklTY Unrestricted funds 0.00 0.00 Totsl funds 0.00 0.00 APPROVAL Approved by the trustees on 202 and signed on their behalf: Signed 14ame Posiuon Irrusteel Date Trustet5' Annual Reportand ￿nar£s81 Ststsments FARANIS TRUST. AEGISTEREO CHARITY 1169468 YEAR ENDEO 29 APRIL 2¢24 FINANCIAL STATEMEIJIS Notes to the Financial Statements Donations and gifts No donation was received into the charitys bank accourtt in the year (year ended 29 April 2023: none). See note 5. Bank Charges No bank charges were incurred during the year (year ended 29 April 2023: none). Cash at bank The Lloyds account is the only bank account held by the charity. Its balance was £0.00 at 29 April 2023 and £o.¢X> at 29 April 2024. The charity held no other bank accounts, cash or investsnents. No charitable activity in the year The trnstees have confirmed that the charity carried out no charitable activity before July 2025. Any amounts applied in earller periods through the personal accounts of connected individuals did not relate to the charity and are not refiected in these finartcial statements. Related party transactions Farhan Farani, the charitys Chair, is connected to City Solicitors (also trading as Farani Taylor}, which ig also the charitys registered office. No transactions occurred between the charity and this related party during the year or the prior year. No t￿stee received any remuneration or reimbursed expenses during the year. Independent examination The charity's gr08s income for the year was below £25,000, so independent examination is not required under section 145 of the Charities Act 2011. The financial statements have been prepared and approved by the tn￿tees. Comparatlve figures Comparative figures are for the year ended 29 April 2023. Basis of prep8xatlon The finartcial statements have been prepaxed on the receipts Ond payments basis in accordance with the Charities Act 2011. As a CIO with gross income below £250,000, the charity is eligible to prepare recelpts and payments accounts. No fixed assets are held in the charity's name. TwustÈe5'Annu¥l Reportaod FSnan¢talStsternents