Noor Relief Fund
Report and Financial Statements
Year ended: 31 March 2022
Charity no: 1190503
Noor Relief Fund
Contents
Page Legal and administrative information 2 Trustees’ annual report 3 to 5 Independent Auditor’s report 6 Statement of financial activities 7 Balance sheets 8 Notes forming part of the financial statements 9 to 11
1
Noor Relief Fund
Legal and administrative information
Trustees:
Dr Ali Al-Shahib Raza Aslam Jaffrey Reshma Bilgrami Dr Jassar El Jabouri
Registered Office:
4 Dalston Gardens Stanmore Middlesex HA7 1BU
Reporting Accountants:
Nebula Accountants limited 31 Crown Way Chellaston Derby DE73 5NU
Bankers:
National Westminster Bank Plc Kingsbury Branch 567 Kingsbury Road London NW9 9EP
2
Noor Relief Fund
Trustees’ Annual Report for the year ended 31 March 2022
The trustees submit their annual report and the audited financial statements for the year ended 31 March 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in 2005 in preparing the annual report and financial statements of the charity.
Reference and administrative details of the charity, its trustees and advisers
Registered Charity, number 1190503
Trustees: Dr Ali Al-Shahib Raza Aslam Jaffrey Reshma Bilgrami Dr Jassar El Jabouri
Registered Office:
4 Dalston Gardens Stanmore Middlesex HA7 1BU
Reporting Accountants: Nebula Accountants limited 31 Crown Way Chellaston Derby DE73 5NU
Bankers: National Westminster Bank Plc Kingsbury Branch 567 Kingsbury Road London NW9 9EP
Accountants Nebula Accountants Limited 31 Crown Way Derby DE73 5NU
Structure, governance and management
Noor Relief Fund operates from rented premises at 4 Dalston Gardens, Stanmore Middlesex HA7 1BU,
Risk Management
The trustees actively review the major risks, which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.
Trustee Induction and Training
As part of the induction program all the Trustees and the committee members are made aware of their responsibilities. This induction includes an introduction to the objectives, scope and policies of the charitable funds, Charity Commission information on trustee responsibilities.
3
Noor Relief Fund
Objectives and activities
Objectives of the charity and principal activities
The Charity is governed by its constitution dated 21 July 2020 as amended on 4 March 2021 registered with the Charity Commission as a charity (1190503).
The trustees shall hold the trust fund and its income upon trust to apply them to:
For the public benefit, the relief of the poverty and hardship among orphans, widows and other people in need anywhere in the world by providing:
-
(A) Financial support, healthcare, house building, other urgent needs and other such charitable services as the CIO may see fit from time to time.
-
(B) Education, Training, and all the necessary support designed to enable individuals to generate a sustainable income and be self-sufficient.
Achievement and performance
Development activities and achievements this year
During the year the charity continued to follow its objectives and continued to raise funds for its activities.
Financial review
Transactions and financial position
The Statement of Financial Activities shows net profit of £126,330 for the year, and reserves stand at £126,330 in total. The Charity is indebted to the generosity of those who donated so generously to the work of the Charity.
Reserves Policy
Having examined the circumstances facing the Charity and in response to the Charity Commissions Regulatory Study entitled Charity Reserves, consider that the reserves held are too high and considers to adopt a strategy of applying charitable funds within reasonable period of receipt.
Volunteers
The charity is grateful for the unstinting efforts of its volunteers who are involved in service provision and fundraising activities
TRUSTEES' RESPONSIBILITIES STATEMENTS
Trustees' responsibilities statement
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the
4
Noor Relief Fund
provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
This report was approved by the Board on 28 November 2022 and signed on its behalf by:
…………………………..
Dr Jassar El Jabouri- Trustee
5
Noor Relief Fund
Independent Examiner's Report
to the Trustees of Noor Relief Fund
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2022 which are set out on pages 8 to 12.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Virendra Patel
Nebula Accountants Limited
31 Crown Way Derby DE73 5NU
6
Noor Relief Fund
Statement of Financial Activities for the year ended 31 March 2022
| 31/03/2022 31/03/2021 | ||
|---|---|---|
| Unrestricted Total | ||
| Notes | funds funds | |
| £ £ | ||
| Incoming Resources | ||
| Incoming resources from generated funds: | ||
| Donations | 2 | 133,472 0 |
| Resources expended | ||
| Direct Charitable activities | 3 | 6,2420 |
| Governance costs | 4 | 900 0 |
| Total resources expended | 7142 0 | |
| Net Incoming / (Outgoing) resources | 126,330 0 | |
| Fund balances brought forward at 1 April | 0 0 | |
| Fund balances carried forward at 31 March | 126,330 0 |
All of the above results are derived from continuing activities.
7
Noor Relief Fund
Balance Sheets as at 31 March 2022
| 31/03/22 |
31/03/21 | |
|---|---|---|
| Unrestricted | Total funds | |
| fund | ||
| Notes£ | £ | |
| Current assets | ||
| Cash at bank and in hand | 128,505 | 0 |
| Creditors: amounts falling due within one year | (2,175) |
0 |
| Net current assets | 126,330 |
0 |
| Net assets | 126,330 |
0 |
| Funds: | ||
| Unrestricted funds | 126,330 |
0 |
| Total funds | 126,330 |
0 |
These accounts have been prepared in accordance with the Financial Reporting Standard FRS 102 (effective 1 January 2015)
The financial statements on pages 9 to 11 were approved and authorised for issue by the trustees on 28 November 2022 and signed on their behalf by:
Dr Jassar El Jabouri - Trustee
8
Noor Relief Fund
Notes forming part of the financial statements for the year ended 31 March 2022
1 Accounting policies
(a)
Basis of preparation
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments, which is included at market value.
(b)
Incoming resources
All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.
(c) Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with use of the resources.
(d) Tangible fixed assets and depreciation
Tangible fixed assets costing more than £250 are capitalised and included at cost including any incidental expenses of acquisition.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straightline basis over their expected useful economic lives as follows:
| Project and office equipment | over 5 years |
|---|---|
| Computer equipment | over 3 years |
| Equipment held under finance leases | over the life of the lease |
| Buildings | over 50 years |
- (e) Finance and operating leases
Rentals applicable to operating leases are charged to the SOFA over the period in which the cost is incurred. Assets purchased under finance lease are capitalised as fixed assets. Obligations under such agreements are included in creditors. The difference between the capitalised cost and the total obligation under the lease represents the finance charges. Finance charges are written-off to the SOFA over the period of the lease so as to produce a constant periodic rate of charge.
(f) Taxation
The charity is exempt from tax on its charitable activities.
(g) Fund accounting
Unrestricted funds can only be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes with objects of the charity. Restrictions arise when specified by donor or when funds are raised for particular restricted purposes.
9
Noor Relief Fund
Notes forming part of the financial statements - Continued for the year ended 31 March 2022
| 2. | Donations and gift | |||
|---|---|---|---|---|
| 31/03/22 | 31/03/22 | |||
| £ | £ | |||
| Donations | 133,472 | 0 | ||
| 3. | Support Costs | |||
| Finance | Others | Total | ||
| £ | £ | £ | ||
| Direct Charitable Costs | 2,853 | 3,389 | 6,242 | |
| 4. | Governance Costs | |||
| 31/03/22 | 31/03/21 | |||
| £ | £ | |||
| Other professional fees | 900 | 0 |
Notes forming part of the financial statements - Continued for the year ended 31 March 2022
5. Trustees’ remuneration
The trustees neither received nor waived any emoluments during the year (2021: £Nil). There were no trustees’ expenses paid for the year ended 31 March 2022 (2021: £Nil)
| 6. | Staff costs | ||
|---|---|---|---|
| 31/03/22 | 31/03/21 | ||
| £ | £ | ||
| Net wages and salaries | 3,293 | 0 | |
| 31/03/22 | 31/03/21 | ||
| Number | Number | ||
| Charitable activities | 1 | 0 |
10
Noor Relief Fund
Notes forming part of the financial statements - Continued for the year ended 31 July 2021
7. Creditors: Amounts falling due within one year
Trade creditors Other creditors & accruals |
£ £ 0 0 900 0 900 **0 ** |
|---|---|
Notes forming part of the financial statements - Continued for the year ended 31 March 2022
8. Movement in Funds
| 8. Movement in Funds | ||
|---|---|---|
| At 01.4.21 Net movement At 31.3.22 | ||
| in funds | ||
| £ | £ £ | |
| Unrestricted funds | ||
| General funds | 0 | 126,330 126,330 |
| Incoming | Resources Movement | |
| Resources | Expended in funds | |
| £ | £ £ | |
| Unrestricted funds | ||
| General funds | 133,742 | (7,142) 126,330 |
11
| Noor Relief Fund Detailed Statement of Financial Activities Incoming Resources Donations Donations Sadaka Total Incoming Resources Recourses Expended Charitable activities Direct wages Governance costs Independent examiner |
31/03/22 31/03/21 £ £ 132,319 0 1,153 0 133,472 0 3,293 0 900 0 |
|---|---|
| Detailed Statement of Financial Activities | ||||
|---|---|---|---|---|
| 31/03/22 | 31/03/21 | |||
| £ | £ | |||
| Finance | ||||
| Bank charges | 2,853 | 0 | ||
| Other | ||||
| Staff costs & NI | 3,293 | 0 | ||
| Pensions costs | 68 | 0 | 0 | |
| IT Software | 28 | 0 | 0 | |
| Independent accountants’ fees | 900 | 0 | 0 | |
| 0 | ||||
| 4,289 | 0 | |||
| Total resources expended | 7,142 | 0 | 0 |
12