2023-12-31-accounts

Noor Relief Fund

Report and Financial Statements

Year ended: 31 December 2023

Charity no: 1190503

Noor Relief Fund

Contents

Page Legal and administrative information 2 Trustees’ annual report 3 to 5 Independent Auditor’s report 6 to 8 Statement of financial activities 9 Balance sheets 10 Cash flow statement 11 Notes forming part of the financial statements 12 to 16

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Noor Relief Fund

Legal and administrative information

Trustees:

Dr Ali Al-Shahib Raza Aslam Jaffrey Reshma Bilgrami Ali Alkateb Jaffar Al-Saraj

Registered Office:

4 Dalston Gardens Stanmore Middlesex HA7 1BU

Auditors:

Nebula Accountants limited 31 Crown Way Chellaston Derby DE73 5NU

Bankers:

National Westminster Bank Plc 315 Station Road Harrow HA1 2AD

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Noor Relief Fund

Trustees’ Annual Report for the year ended 31 December 2023

The trustees submit their annual report and the audited financial statements for the year ended 31 December 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

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 Ali Alkateb Jaffar Al-Saraj

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 315 Station Road Harrow HA1 2AD

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.

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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 £362,596 for the 12 month period (31 December 2022 £553,993), and reserves stand at £1,042,919 (31 December 2022 £680,323) in total. The Charity is indebted to the generosity of those who donated so generously to the work of the Charity. The total income for the year ended 31 December 2023 was £1,801,712 (31 December 2022 £911,253).

Reserves Policy

The free reserves of the charity comprise of the unrestricted funds which at the year end amounted to £1,042,919 (31 December 2022 £680,323). The trustees are targeting a minimum reserve level which would cover about 18 months of regular operating expenses. The charity has increased reserves for the year ended 31 December 2023 by £362,596 from the previous year.

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.

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Noor Relief Fund

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 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 23 September 2024 and signed on its behalf by:

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Dr Ali Al-Shahib Trustee

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Noor Relief Fund

Independent Auditor’s Report to the trustees of Noor Relief Fund Ltd

Opinion

We have audited the financial statements of Noor Relief Fund Ltd (the ‘charity’) for the year ended 31 December 2023 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including 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:

• give a true and fair view of the state of the charity’s affairs as at 31 December 2023, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

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 UK, including the FRC’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 charity'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.

Other information

The other information comprises the information included in the trustees 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the trustees' report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the directors’ report included within the trustees' report has been prepared in accordance with applicable legal requirements.

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Noor Relief Fund

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 5, 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.

Auditor’s responsibilities for the audit of the financial statements

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:

1. We will review management journals for appropriateness

2. We will conduct audit testing across the statement of financial activities and Balance sheet based on our materiality level

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-thefi/description-of-the-auditor%E2%80%99s-responsibilities-for. This description forms part of our auditor’s report.

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Noor Relief Fund

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Nebula Accountants

31 Crown way, Chellaston, Derby

23 September 2024

Nebula Accountants is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

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Noor Relief Fund

Statement of Financial Activities for the year ended 31 December 2023

		31/12/2023 31/12/2022
		Unrestricted Total
	Notes	funds funds
		£ £
Incoming Resources
Incoming resources from generated funds:
Donations	2	1,801,712 911,253
Resources expended
Direct Charitable activities	3	1,435,892 354,444
Governance costs	4	3,224 2,816
Total resources expended		1,439,116 357,260
Net Incoming / (Outgoing) resources		362,596 553,993
Fund balances brought forward at 1 January		680,323 126,330
Fund balances carried forward at 31 December		1,042,919 680,323

All of the above results are derived from continuing activities.

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Noor Relief Fund

Balance Sheets as at 31 December 2023

		31/12/23	31/12/22
		Unrestricted	Total funds
		fund
	Notes	£	£
Fixed assets
Office equipment	8	3,875
Current assets
Debtors	9	28,477	9,540
Cash at bank and in hand	11	1,021,725	678,753
		1,050,202	688,293
Creditors: amounts falling due within one year 10		(11,158)	(7,970)
Net current assets		1,039,044	680,323
Total assets less current liabilities		1,042,919	680,323
Net assets		1,042,919	680,323
Funds:
Unrestricted funds		1,042,919	680,323
Total funds		1,042,919	680,323

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 16 were approved and authorised for issue by the trustees on 23 September 2024 and signed on their behalf by:

Dr Ali Al-Shahib - Trustee

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Noor Relief Fund

Cash Flow Statement for Year Ended 31 December 2023

Notes Cashflow from operating activities: Net cash provided by operating activities A Cashflow from investing activities: Purchase of equipment Net changes provided by investing activities Changes in cash and cash equivalents in reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period Notes to the consolidated cashflow statement A) Reconciliation of net income to net cashflow from operating Net income for the reporting period Depreciation charges (Increase)/ Decrease in debtors Increase/ (Decrease) in creditors	31/12/23 £ 346,990 (4,018) (4,018) 342,942 678,753 1,021,725 activities 362,596 143 (18,937) 3,188 346,990	31/12/23 £ 346,990 (4,018) (4,018) 342,942 678,753 1,021,725 activities 362,596 143 (18,937) 3,188 346,990

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Noor Relief Fund

Notes forming part of the financial statements for the year ended 31 December 2023

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 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. 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.

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Noor Relief Fund

Notes forming part of the financial statements - Continued for the year ended 31 December 2023

2.	Donations and gift
			31/12/23	31/12/22
			£	£
	Donations		1,801,713	911,253
3.	Charitable activities costs	Direct costs	Support costs	Totals
			(see note 4)
		£	£	£
	Direct Charitable Costs	1,113,767	322,125	1,435,892
4.	Support Costs
		Finance	Others	Total
		£	£	£
	Direct Charitable Costs	8,769	313,356	322,125
5.	Governance Costs
			31/12/23	31/12/22
			£	£
	Other professional fees		824	416
	Accountancy fees		2,400	2400
			3,224	2,816
6.	Trustees’ remuneration
	The trustees neither received nor waived any emoluments during the year (2022: £Nil).
	There were no trustees’ expenses paid for the year ended 31 December		2023 (2022: £Nil)
7.	Staff costs
			31/12/23	31/12/22
			£	£
	Net wages and salaries		173,142	65,287
	Social Security costs		49,778	2,214
			222,920	67,501
			31/12/23	31/12/22
			Number	Number
	Average Staff numbers		9	2

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Noor Relief Fund

Notes forming part of the financial statements - Continued for the year ended 31 December 2023

8.	Tangible fixed assets
		Fixtures
		& fittings
		£
Cost
At 1 January 2023		0
Additions		4,018
At 31	December 2023	4,018
Depreciation
At 1 January 2023		0
Charge for year		143
At 31	July 2023	143
Net book value
at 31	December 2023	3,875
At 31	December 2022	Nil
9. Debtors: Amounts falling due within one year
			31/12/23 31/12/22
			£ £
Gift Aid- HMRC			23,717 8,756
Other	debtors		4,760 784
Total			28,477 9,540
10.	Creditors: Amounts falling due within one year
			31/12/23 31/12/22
			£ £
Trade	creditors		0 0
Other	creditors & accruals		11,158 7,970
			11,158 7,970

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Noor Relief Fund

11. Movement in Funds
	At 01.1.23 Net movement At 31.12.23
		in funds
	£	£ £
Unrestricted funds
General funds	680,323	362,5961,042,919
	Incoming	Resources Movement
	Resources	Expended in funds
	£	£ £
Unrestricted funds
General funds	1,801,713	(1,439,117) 362,596

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Noor Relief Fund

Detailed Statement of Financial Activities

Incoming Resources	31/12/23	31/12/22
	£	£
Donations
Donations	1,723,385	837,058
Sadaka	78,328	74,195
Total Incoming Resources	1,801,713	911,253
Recourses Expended
Charitable activities
Donations and Sponsorships	1,113,767	266,251
	1,113,767	266,251
Governance costs
Independent examiner	2,400	2,400
Professional fees	824	416
	3,224	2,816
Finance
Bank charges	8,769	16,107
Other
Staff costs & NI	238,574	67,501
Pensions costs	3,792	1,361	0
Postage and stationery	1,549	207
General Expenses	2,346	595
Subscriptions	852	125
Advertising & marketing	57,814	1,187
Recruitment	0	196
IT Software & tel	2,883	914	0
Insurance	16	0
Travelling expenses	5,387	0
Depreciation	143	0
	313,356	72,086
Total resources expended	1,439,116	357,260	0

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