REGISTERED CHARITY NUMBER: 1190869
Report of the Trustees and Unaudited Financial Statements for the Period 14th August 2020 to 31st December 2021 for IFTA Welfare Trust UK
Naail & Co Chartered Certified Accountants 69 Lambeth Walk London SE11 6DX Page 01
IFTA Welfare Trust UK
Contents of the Financial Statements Page for the Period 14th August 2020 to 31st December 2021 Report of the Trustees 03-06 Independent Examiner’s Report 07 Statement of Financial Activities 08 Balance Sheet 09 Notes to the Financial Statements 10-12 Detailed Statement of Financial Activities 13
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IFTA Welfare Trust UK
Report of the Trustees for the Period 14th August 2020 to 31st December 2021
The trustees present their report with the financial statements of the charity for the period 14th August 2020 to 31st December 2021. The trustees have adopted the provisions of 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1190869
Principal address
1 Beverley Road Mitcham CR4 1NQ
Trustees
Syed Jaffri Dr Muhammad Ali Ghazanfar
Independent Examiner
Naail & Co Chartered Certified Accountants 69 Lambeth Walk London SE11 6DX
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IFTA Welfare Trust UK
Report of the Trustees for the Period 14th August 2020 to 31st December 2021
Objectives
The objects of the CIO are: a) the relief of financial hardship, either generally or individually, of people living in Pakistan and the uk, by making grants of money for providing or paying for items services or facilities. B) to advance education, primarily, but not exclusively for the benefit of the poor and those in need, by means of making grants of money to fund educational activities and facilities in Pakistan and the UK.
Water campaign 2021
https://www.justgiving.com/campaign/ifta waterappeal
infrastructure and limited facilities. Its sad but true that in some part of the areas deprived of proper water supply. They are forced to obtain most of their water through bores. The only other option for residents is to buy unfiltered water from private water tanker operators. A 2,000-gallon water tanker normally costs between $20 and $40. In a family of 8-10 people they have to order at least four tankers a month to meet the basic needs of their household. But not everyone in this working class neighbourhood can afford to buy water from the tankers or to pay the approximately $800 its costs to install a drilled well for non-drinking water. Areas such as Orangi, Sarjani, Baldia and Gadap, some of the most densely populated in the city, receive less than 40 per cent of the water allotted to them, according to data collected by the Orangi Pilot Project (OPP), an NGO that works on civic infrastructure and citizens rights in the area. It costs £50 per day for IFTA to support 600 families in underdeveloped areas. The £5000 we raise in this campaign will enable 100 more days of supply. PLEAS DONATE GENEROUSLY in the name of humanity. No one should be deprived of something as basic as clean water. Big thank you Manchester Community Youth for donating £3772.60 for the clean water project.
Ramadan appeal 2021
How much does the average takeaway for 4 people cost? £35 and that is just one meal. For £33, this Ramadhan you can sponsor a family for an entire month this includes 2 meals a day. With your donation, IFTA can ensure families in and around Skardu, Parachinar, Interior Sindh Villages, Karachi etc who are most in need are delivered a Ramadhan package right to their doorstep.
Marriage support 2021
In The Year 2021 IFTA Welfare Trust did wedding arrangements of more than 26 poor families from 650,000 PKR including widow’s daughter in different forms
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IFTA Welfare Trust UK
Report of the Trustees for the Period 14th August 2020 to 31st December 2021
Sadaqa boxes – All year
Qurbani campaign 2021
Meat will be distributed to needy families in underprivileged areas GOAT - GBP 140/- (10 Boxes of 1KG Approx.) COW - GBP 550/- (100 Boxes of 1KG Approx.)
Outlook for 2022
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Ramadan food parcels distribution 2022
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Qurbani Meat distribution 2022
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Water campaign 2022
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Winter blankets 2022
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Support for the people affected by floods in remote areas of Pakistan
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IFTA Welfare Trust UK
Report of the Trustees for the Period 14th August 2020 to 31st December 2021
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to 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.
RISK MANAGEMENT
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
GOVERNING DOCUMENT
The charity is controlled by its governing document, Trust Deed, dated 14/08/2020
INDEPENDENT EXAMINER
The independent examiner, Naail & Co, Chartered Certified Accountants, will be proposed for re- appointment at the forthcoming Annual Trustees’ Meeting.
ON BEHALF OF THE BOARD:
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. Trustee
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Independent Examiner's Report to the Trustees of IFTA Welfare Trust UK
Independent examiner's report to the trustees of IFTA Welfare Trust UK
I report to the charity trustees on my examination of the accounts of IFTA Welfare Trust UK (the Trust) for the period 14th August 2020 to 31st December 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
……………………………..
Syed H Murtaza FCCA, MCMI Naail & Co Chartered Certified Accountants 69 Lambeth Walk London SE11 6DX
Date: .............................................
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IFTA Welfare Trust UK
Statement of Financial Activities for the Period 14th August 2020 to 31st December 2021
| Unrestricted Restricted Endowment funds funds fund Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 16,687 30,725 - EXPENDITURE ON Charitable activities General Charitable Activities 13,759 25,878 - Other 1,849 - - Total 15,608 25,878 - NET INCOME 1,079 4,847 - TOTAL FUNDS CARRIED FORWARD 1,079 4,847 - |
Total funds £ 47,412 |
|---|---|
| 39,637 1,849 |
|
| 41,486 | |
| 5,926 | |
| 5,926 |
The notes form part of these financial statements
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IFTA Welfare Trust UK
| Balance Sheet 31st December 2021 Unrestricted Restricted Endowment funds funds fund Notes £ £ £ CURRENT ASSETS Cash at bank 1,979 4,847 - CREDITORS Amounts falling due within one year 3 (900) - - NET CURRENT ASSETS 1,079 4,847 - TOTAL ASSETS LESS CURRENT LIABILITIES 1,079 4,847 - NET ASSETS 1,079 4,847 - FUNDS 4 Unrestricted funds Restricted funds TOTAL FUNDS |
Total funds £ 6,826 (900) 5,926 5,926 5,926 1,079 4,847 5,926 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
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IFTA Welfare Trust UK
Notes to the Financial Statements
for the Period 14th August 2020 to 31st December 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
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IFTA Welfare Trust UK
Notes to the Financial Statements - continued for the Period 14th August 2020 to 31st December 2021
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 31st December 2021.
Trustees' expenses
There were no trustees' expenses paid for the period ended 31st December 2021.
3. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Independent examiner fee
£ 900
4. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | ||
|---|---|---|
| Net | ||
| movement | At | |
| in funds | 31.12.21 | |
| £ | £ | |
| Unrestricted funds | ||
| General donation | 1,079 | 1,079 |
| Restricted funds | ||
| Patient support | 19 | 19 |
| Ramadan ration | 228 | 228 |
| R.O plant-Gohram Goth | 151 | 151 |
| Khums | 2,853 | 2,853 |
| Qurbani | 27 | 27 |
| Water donation | 998 | 998 |
| Razai | 185 | 185 |
| Sadqa- goat | 386 | 386 |
| 4,847 | 4,847 | |
| TOTAL FUNDS | 5,926 | 5,926 |
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IFTA Welfare Trust UK
Notes to the Financial Statements - continued for the Period 14th August 2020 to 31st December 2021
4. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General donation Restricted funds Patient support Ramadan ration R.O plant-Gohram Goth Ramadan iftari Khums Qurbani Water donation Razai Sadqa- goat TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 16,687 (15,608) 1,079 50 (31) 19 4,070 (3,842) 228 3,773 (3,622) 151 2,985 (2,985) - 3,880 (1,027) 2,853 70 (43) 27 15,077 (14,079) 998 200 (15) 185 620 (234) 386 30,725 (25,878) 4,847 47,412 (41,486) 5,926 |
|---|---|
5. RELATED PARTY DISCLOSURES
There were no related party transactions for the period ended 31st December 2021.
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IFTA Welfare Trust UK
Detailed Statement of Financial Activities for the Period 14th August 2020 to 31st December 2021
£
| INCOME AND ENDOWMENTS Donations and legacies Donations Total incoming resources EXPENDITURE Charitable activities Water donations Sadqa-goat Razai Khums (Sehm-e-Imam) Khums (Sadaat) R.O plant-Gohram Goth General donations Ramadan ration Patient support Ramadan iftari Qurbani Fitra Support costs Management Commission & fees Other general & admin expenses Finance Bank charges Governance costs Independent examiner's fees Total resources expended Net income |
47,412 47,412 14,079 234 15 754 273 3,622 13,491 3,842 31 2,985 43 268 39,637 198 533 731 218 900 41,486 5,926 |
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