OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-12-31-accounts

REGISTERED CHARITY NUMBER: 1190869

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31st December 2022

for

Ifta Welfare Trust UK

Naail & Co Chartered Certified Accountants 69 Lambeth Walk London SE11 6DX

Ifta Welfare Trust UK

Contents of the Financial Statements for the Year Ended 31st December 2022

Page
Report of the Trustees 3 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 to 16
Detailed Statement of Financial Statements 17
to 18

Ifta Welfare Trust UK

Report of the Trustees for the Year Ended 31st December 2022

The trustees present their report with the financial statements of the charity for the year ended 31st December 2022. 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

Page 3

Ifta Welfare Trust UK

Report of the Trustees for the Year Ended 31st December 2022

Introduction:

IFTA Welfare Trust UK have successfully supported 15 different Humanitarian program in collaboration with IFTA Welfare Trust Pakistan to cater the basic needs of underprivileged with focus on Health, Education, Water and Social Well-being. IWT have adapted the norms of Sustainable Development Goals 2030 consisting of 17 points initiated by United Nation Development Program (UNDP) for the uplifting of Under Privilege Communities within Pakistan IFTA Welfare Trust Pakistan is serving humanity since 2008 as a not-for-profit welfare organization. IFTA Welfare Trust is registered with Government of Pakistan and Pakistan Centre for Philanthropy (PCP)

IFTA Welfare Trust Pakistan is currently providing their services and doing welfare work in most under privileged areas of Karachi, like Orangi Town, Qasba Colony, Baldia Town, Irani Camp, Malir, Korangi etc. In order to advance IWT mission, we are providing our services and assistance on humanitarian ground in Sindh, Punjab, Baluchistan and Skardu Gilgit Baltistan. IWT’s 100% donation policy ensures that all donations are spend for charitable purposes.

Objectives

IFTA Welfare Trust UK is a CIO - FOUNDATION Registered on 14 Aug 2020 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.

Activities and achievements:

Ongoing projects

Clean DrinkingWater Project Karachi
Higher Education Support Program Karachi
School Fee Support Program Karachi & Skardu
Books,Copies & Uniforms Karachi & Skardu
Marriage Support Project Karachi
MonthlyRation Supply Karachi
Cooked Food/Sadqa Meat Project Karachi & Skardu
AnnualQurbani Karachi& Skardu
Ramadan Ration Project Parachinar,Skardu,Hango,Haiderabad,Karachi
Heat Stroke Relief Project(Summer) Karachi
Quilt Distribution Project(Winter) Parachinar,Skardu,KhairPur,Karachi

Adhoc projects

House Re-Building of Flood Afectees District KhairPur
Ration Distribution for Flood Victims Badin, Thari Meerwah, Thatta, Khairpur,
Naseerabad,Basti Khosa,Taunsa Sharif,Karachi
Medical Camps for Flood Victims in Sindh Badin, Thari Meerwah, Khairpur, Basti
Khosa,Karachi
Clothes, Crockery, Towel, Soaps etc. for Flood
Victims		 Khairpur, Karachi

Page 4

Ifta Welfare Trust UK

Report of the Trustees for the Year Ended 31st December 2022

Fumigation in Sindh & Baluchistan for
Flood Victims		 Badin, Thari Meerwah, Thatta, Khairpur,
Naseerabad,Basti Khosa,Taunsa Sharif,Karachi
Camp/Tent Distribution Baluchistan & Punjab
for Flood Victims		 KhairPur, Naseerabad, Dera Ghazi Khan
4 Sets Of UF Hand Operated Water Filtration
Plant		 Dera Murad Jamali, Baluchistan
School Bags Distribution District KhairPur
Mosquito Net to Flood Effected families Khairpur, Sindh & Taunsa Sharif, Punjab
Cooked Food Distribution to Flood Effected
families		 Badin, Karachi & Khairpur - Taluka Kotdiji
Hair Cutting Drive Orangi Town, Karachi

Appeals

https://www.justgiving.com/campaign/pakfloods https://gofund.me/ac4fd228

Page 5

Ifta Welfare Trust UK Report of the Trustees for the Year Ended 31st December 2022 IFTA WELFARE TRUST vell3retrustnrg Salam On behalf of IFTA Welfare Trust UK, I request you to participate in our winter drive for blankei distribution among poor f3milie5 of Northern areas of Pakistan. We have been distributing for last few years but the need in this year is immense. The blanket has to be good quality in these areas as the temperature may drop well below freezing point One blanket cost us 10£ We are tsrgeting at least 500 blanket5. 5000 £ Please donate generously Direct donations (please text amount) Account name.. IFTA Welfare Trust UK Account #.. 11717858 Sort Code.. 602428 PayPal.' p3ypalQiftaWe￿arQtrUst.or9 For more ir>forrnation please contsct 07806511378 http5.'1,.'..ftaivelfar8tfUSt.org/ UK Registered Charity. 1190869 IFTA WELFARE TRUST rftth¥elfaretrLtst.org 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 and we are still getting many requests for wedding arrangement of orphans ale recewed. PLEASE COME FORWARD at SUPPORT How much does the average takeaway for 4 people cos 35 and that 15 just one meal. For £33. this Ramadhan you can sponsor a family for an entire month this includes 2 meals a day. IFfA WELFARE TRUST UK- RAMADHAN APPEAL With your donation, IFTA can ensure f3milie5 in and around Skardu. P3rachina, Interior Sindh Villages, Karachi etc who are m05t need are delivered a Ramadhan package right to their doorstep. Online Donation ¥V'.¥Vb.JUStgirfii9.com/campaign/iftaramadan2022 Page 6

Ifta Welfare Trust UK

Report of the Trustees

for the Year Ended 31st December 2022

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with the applicable law and United Kingdom’s accounting standards (United Kingdom’s generally accepted accounting practice).

The law is applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of affairs of the charity and of incoming resources and application of resources of the charity for that period. In preparing financial statements, the trustees are required to:

  1. Select Suitable Accounting Policies and apply them consistently;

  2. Observe the methods and principles in the Charities Statement of Recommended Practice;

  3. Make judgements and estimates that are reasonable and prudent;

  4. State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

  5. Prepare the financial Statements on the going concern basis unless it’s inappropriate to presume that the charity will continue in business

The trustees are responsible for keeping proper accounting records that 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 Constitution.

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 reappointment 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:

syed jaffri syed jaffri (Nov 17, 2023 11:00 GMT).................................................................

Trustee – Mr Syed Jaffri

Page 7

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 year ended 31st December 2022.

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:

  1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. 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 Murtaza

Syed Murtaza (Nov 17, 2023 11:03 GMT)

Syed H Murtaza FCCA, MCMI Naail & Co Chartered Certified Accountants 69 Lambeth Walk London SE11 6DX

Date: .............................................

Page 8

Ifta Welfare Trust UK

Statement of Financial Activities for the Year Ended 31st December 2022

Period
14.8.20
Year Ended to
31.12.22 31.12.21
Unrestricted Restricted Endowment Total Total
funds funds fund funds funds
Notes £ £ £ £ £
INCOME AND
ENDOWMENTS FROM
Donations and legacies 7,266 31,049 - 38,315 47,412
EXPENDITURE ON
Raising funds 2 650 - - 650 -
Charitable activities
General Charitable Activities 7,676 23,707 - 31,383 39,637
Other 4,460 - - 4,460 1,849
Total 12,786 23,707 - 36,493 41,486
NET
INCOME/(EXPENDITURE (5,520) 7,342 - 1,822 5,926
)
RECONCILIATION OF
FUNDS
Total funds brought forward 1,079 4,847 - 5,926 -
TOTAL FUNDS CARRIED
FORWARD (4,441) 12,189 - 7,748 5,926

The notes form part of these financial statements

Page 9

Ifta Welfare Trust UK

Balance Sheet 31st December 2022

Unrestricted
Restricted
Endowment
funds
funds
fund
Notes
£
£
£
CURRENT ASSETS
Cash at bank
507
7,891
-
CREDITORS
Amounts falling due within
one year
5
(650)
-
-
NET CURRENT
ASSETS/(LIABILITIES)
(143)
7,891
-
TOTAL ASSETS LESS
CURRENT LIABILITIES
(143)
7,891
-
NET ASSETS
(143)
7,891
-
FUNDS
7
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2022
Total
funds
£
8,398
(650)
7,748
7,748
7,748
51
7,697
7,748		 2021
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:

syed jaffri

syed jaffri (Nov 17, 2023 11:00 GMT)............................................. Trustee - Mr Syed Jaffri

The notes form part of these financial statements

Page 10

Ifta Welfare Trust UK

Notes to the Financial Statements for the Year Ended 31st December 2022

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.

continued...

Page 11

Ifta Welfare Trust UK

Notes to the Financial Statements - continued for the Year Ended 31st December 2022

2. RAISING FUNDS

Governance costs

Governance costs
Period
14.8.20
Year Ended to
31.12.22 31.12.21
£ £
Independent examiner’s fee 750 900

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st December 2022 nor for the period ended 31st December 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st December 2022 nor for the period ended 31st December 2021.

4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
Restricted
Endowment
funds
funds
fund
£
£
£
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

Page 12

continued...

Ifta Welfare Trust UK

Notes to the Financial Statements - continued for the Year Ended 31st December 2022

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Accurals 650 900
650 900
6. MOVEMENT IN FUNDS
Net
movement At
At 1.1.22 in funds 31.12.22
£ £ £
Unrestricted funds
General donation 1,079 (1,028) 51
Restricted funds
Patient support 19 (18) 1
Ramadan ration 228 (216) 12
R.O plant-Gohram Goth 151 (92) 59
Ramadan iftari - 187 187
Khums 2,853 (2,573) 280
Qurbani 27 129 156
Water donation 998 (907) 91
Razai 185 (75) 110
Sadqa- goat 386 (339) 47
Book Publication - 89 89
Dowry - 156 156
Flood Relief - 5,140 5,140
Education Support - 1,272 1,272
Fidya - 97 97
4,847 2,850 7,697
TOTAL FUNDS 5,926 1,822 7,748

Page 13

continued...

Ifta Welfare Trust UK

Notes to the Financial Statements - continued for the Year Ended 31st December 2022

6. 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
Book Publication
Dowry
Flood Relief
Education Support
Fidya
Fitra
TOTAL FUNDS		 Incoming
Resources
Movement
resources
expended
in funds
£
£
£
7,266
(8,294)
(1,028)
-
(18)
(18)
2,226
(2,442)
(216)
-
(92)
(92)
266
(79)
187
1,756
(4,329)
(2,573)
159
(30)
129
881
(1,788)
(907)
1
(76)
(75)
198
(537)
(339)
100
(11)
89
175
(19)
156
19,373
(14,233)
5,140
5,780
(4,508)
1,272
120
(23)
97
14
(14)
0
31,049
28,199
2,850
38,315
(36,493)
1,822

Page 14

continued...

Ifta Welfare Trust UK

Notes to the Financial Statements - continued for the Year Ended 31st December 2022

6. MOVEMENT IN FUNDS - continued

Comparatives for 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

Comparative 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

Page 15

continued...

Ifta Welfare Trust UK

Notes to the Financial Statements - continued for the Year Ended 31st December 2022

7. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st December 2022.

Page 16

Ifta Welfare Trust UK

Detailed Statement of Financial Activities for the Year Ended 31st December 2022

Period
14.8.20
Year Ended to
31.12.22 31.12.21
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 38,315 47,412
Total incoming resources 38,315 47,412
EXPENDITURE
Charitable activities
Water donations 1,788 14,079
Sadqa-goat 537 234
Razai 76 15
Khums (Sehm-e-Imam) 3,803 754
Khums (Sadaat) 526 273
R.O plant-Gohram Goth 92 3,622
General donations 6,676 13,491
Ramadan ration 2,442 3,842
Patient support 18 31
Ramadan iftari 79 2,985
Qurbani 30 43
Fitra 208 268
Book Publication 11 -
Dowry 19 -
Education Support 4,508 -
Fidya 23 -
Flood relief 9,547 -
30,383 39,637
Support costs
Management
Commission & fees 216 198
Other general & admin expenses 1,120 533
Rain & Urban Flooding 4,024 -
5,360 731

Page 17

Ifta Welfare Trust UK

This page does not form part of the statutory financial statements

Detailed Statement of Financial Activities for the Year Ended 31st December 2022

Period
14.8.20
Year Ended to
31.12.22 31.12.21
£ £
Management
Finance
Bank charges - 218
Governance costs
Independent examiner's fee 750 900
Total resources expended 36,493 41,486
Net income 1,822 5,926

Page 18