cHARy REGISTRATION NUMBER: 1191798 LOC FOUNDATION Unaudited Financial Statements 31 December 2022 KBM K LIMITED Chartered Certified Accountants 1 Concord Business Centre Concord Road London UK W3 OTJ
LOC FOUNDATION Financial Statements Year ended 31 December 2022 Page Trustees, annual report Independent examiner's report to the trustees Statement ol financial activities Statement of financial position Statement of cash flows Notes to the financial statements The followlng pages do not form part of the financial stsiements Detailed statemenl of financial activities 15 Notes to the detailed statemenl of financial activities 16
LOC FOUNDATION Trustees. Annual Report Year ended 31 December 2022 The Iruslees present their report and the unaudrte(l financial slatements of the charity for the year ended 31 December 2022. Relergnce and admlnlstratlve detalls Reg19tered charlty name LOC FOUNDATION Charlty reglstratlon number 1191798 Prlnclpal offlco 18 Chestrut Walk Watford WD24 6NS England The trustees MrSAhm MrFAIi hlr N Ahmed hls M Ahmed MrUAIi {Resigned 28 January 20221 (A)nIed 28 December 20221 IAFwinl&J 28 December 20221 Independent ¢xamlner KBM UK LTD 1 Concord Business Cenlrè Concord Road Lornlon UK W3 OTJ Struclure, gov8manca and monagement LOC Foundation is charitable incorForated organisation, were Ineorporaled on 14 Oclobgr 2020. The day t¢ day running ol Ihe charty is led by managiThJ Iruslee, Mr Faisal Ali who manages the daily actniitles DI the charity and anagement related tssks. Mr Ali also papaleS in fundraising lor the charity and Iravels lo places where charilatrAe atslivities are undertaken.
LOC FOUNDATION Trustees. Annual Reporl (eoftunu Year ended 31 December 2022 Oblectlves and acllv1119S The charity helps poor families, schools, childrèn aloru the line of wntrol. This ranges from sending clothes, provide slalionery oquiprp.8nt lor schools, providir.g medical aid and Ir equipment loi tho poor. The main objectSves ol the organisadon are.. The wevenlion or relief of poverty amongst those INing in Kashmir Nakyal Sector by the provision of grants ol Ite$, equipment and lurKls to relievg their needs the reliel and assistance ol PgOFle In Kashmir Nakyal Sector, who are vicums ol war or natural disaster, trouble or catastrophe In partlcular by the supply ol grants. The relief ol financial need and suffgring arno w¢l'.ms ol natural or olh8r kinds of disaster in thg lomi ol money lor other means deemed suilablel lor persons, bles, organisalions affected in such ways as the trustees shall think ftL Achlevèm6nt8 and pertormance In the year 2021 - 2022, charity has collected donation from iThJNKluals lo fu& and support 118 activitie8 and projects in Kashmir Nakyal Sector. Som8 ol them are highlrfJhled beEow,
We have successlLIty distributed 7 19-inch laptops lo a local school ir. JarKJrol boys High Sch{7. We have Continu from the previous year in provkling wnter clothing to the poor and needy lo help In harsh wnl8r condiliDns. Like the previous years we provided Ramadan packages lo up lo 100 families and this wll be happening every year. We helped fund a mqor bridge that gives road access lo over 200 peorAe who previously had 10 cross a river to get to the road. Road crossing impossitAe and dangerous during the wnonsoon season whenever the rivor bursts tts banks. W& provlded a 40011r plasti¢ waleT lank for lamity in the village ol Dabsi Soyden, Nakyal. Thls has hèlped 3 families to store and use water lor their everyday use. We successfully drilled 2 water boreholes which has helped in 2022. The first one being in Sultan Baghla which has helped 20+ lamili8s. The second on8 has alsi) helpgd ovar 20 families in th8 mountainous Kilnger Colony in Lanjole. Flnanclal revlew Thg Charity received donation and tunds £11,968 during the period. Tolai outgoing rosources amounted to £11.233 of whh £10,953 was eypencled on direct chari.able aclivfties at* £280 on the costs ol running the ollice and on other Governance costs. Total aVlable funds al 31 December 2022 amounted lo £12.342 of which £12.342 related lo unrestrted funds and £nil was available for restricted wrry)ses. Thg Trnslegs are salislied that lh8 chaTiVs activtties duririg the period havo met th@ir obj8ctiv8s and aro satisfied with th8 finanal position al the riCl end.
LOC FOUNDATION Independent Examinerfs Report to the Truslees of LOC FOUNDATION Year ended 31 December 2022 I r8wrt tD the trustees on my examination ol the ffinan0 Statements of LOC FOUNDATION I'lh& charity) lor the year ended 31 December 2022. Responslbllllles and basls of report As the Irusl8es ol the charity you are reswnsible for the preparation of the financlal statements in accordance wlh the requirements ol the Charities Act 2011 I-the Acl'l. I report In respect ol my exarninatron ol the charivs financial statements carrfed out under section 145 of Ihg 2011 Act and in carrying out my examination I have fDllowed all the awicable Directions given by the Gharily Commission under section 14515}Ibl ol thg ACL Indopendent examiner's stalement I have completed my examination. I confirm that no Tr.ateri rnatters have come to my attention in connectKJn wlh the examination gmng me cause lo believe that in any malerial respect.. accounting records Te not kept in res of the charity as required by s8clion 130 of the Act., or the financial statements do not accord th those records; or the Ilnanclal slalernenls do not comply th the aleable requlremenls concerning the fom and conlènt ol acconts sel out in the Charibes (Accounts and Reports) Regulations 2008 othèr than any requiremenl that the accounts give a Irue and fair, view which is nol a matter considgred as part ol an independer..l examination. I have no concerns and have come across no other matters in connection wth th8 examination lo which attention Shou t drawn in Ihis rewrt in order lo enable a propw undersianding ol the aOnts lo be reached. l<f)M KBM UK LTD Independent Examiner 1 Concord Business Centre Concord Road London UK W3 OTJ
LOC FOUNDATION Statemenl ol Financial Activilies Year ended 31 December 2022 Period from 140c120to 31 Oec 21 Yoar to 31 D8c 22 Unrestricted Restncted funds funds Total funds Total funds Income 8nd endowments Donations and legacigs Total Incorno 8,497 8,497 3,471 3,471 11,968 11,968 29,792 29,792 Expendlture Expenditufe on raislng funds-. Costs of other trading aCt..les Expgndlture on charitable activities Total expendlture 280 1.700 280 10,953 2,082 16,103 9,253 1.980 9,253 11,233 18,185 Not Incom• 6,517 {5,7821 735 11,607 Transfers btheen funds 2.928 12.9281 Net mov8ment In funds 9.445 18.7101 735 11,607 Recon¢lllallon ot lunds Total funds brought forward Total funds urrled forward 2,897 12,342 8,710 11,6D7 12,342 11.8Q7 The slalemenl of financial actiwlies indudes gains and losses ré(wni8ed in the year. All income and expenditure dernig from continuing activibes. The noles on pages 8 10 13 fom port of fin•n¢lal $tstsmènl$.
| 2022 | 2021 | ||
|---|---|---|---|
| Note | £ | £ | |
| Currentassets | |||
| Cashatbankandinhand | 13,493 | 13,207 | |
| Creditors:amountsfallingduewithinoneyear | 11 | 1,151 | 1,600 |
| Netcurrentassets | 12,342 | 11,607 | |
| -- | -- | ||
| Totalassetslesscurrentliabilities | 12,342 | 11,607 | |
| Netassets | 12,342 | 11,607 | |
| Fundsofthecharity Restrictedfunds |
8,710 | ||
| Unrestrictedfunds | 12,342 | 2,897 | |
| Totalcharityfunds | 12 | 12,342 | 11,607 |
LOC FOUNDATION Statemenl of Cash Flows Year ended 31 December 2022 2022 2021 Cash flows from operatlng acllvltles Nel Income 735 11,607 Adjustrnents for.. Inieresi payable and sirnilar charges AGcrued expenses 24 600 Changes in.. Trade and other creditors (449) 210 1.000 Cash generated from operations 13,26D Interest pa Nel cash Irtsm operatSng activilies 1241 286 {531 13,207 Net incroase in ca$h and cash equlvaknts Cash and cash equlvalgnts at beginning of year Cash and cash equlvalent$ at end of ythqr 13,207 13,207 13,493 13,207 The notes on pagès 8 to 13 fomi part of theso financlal ststements.
LOC FOUNDATION Noles to the Flnanclal Statements Year ended 31 December 2022 Gengral Information The charity is a public benefit entty afjd a r8gis.ered charity in England and we$ and is unlncorporaled. The address ol the principal offlce Is 18 Chestnut Walk, Wattord, WD24 8NS, England. Statement ol cornplionce These finanGYal statements have been prepared in eomFAiance vrith FFIS 102, The Financlal R8POrting Slandard applicable in the UK and th8 Reput ol Ireland,, the Statement ol Recommended Practice apylicable lo charibes preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK aThl Rgpublic ol Ireland IFRS 1021 (Charities SORP IFRS 1Q211 arml the Charities Act 2011. Ac¢ountlng policles Ba318 ol preparatlon The financial slalements have begn prepared on the hi8toital cost basis, as mcMYifiod by the reva1uat":on ol certain financial assets and liabileS and investment properties measured al fair vJue through Income or expenditure. The finanry statements are prepared in sl8dirKJ, whth Is the fvnetiOn currency ol the enlty. Golng concem There are no material uncertainties aul the charitS ability lo continu8. Judgements and key sources of estimation uDcertalnty There are no malerid uncertanties atout Ihe charivs abilrtyto continue. Fund accountlng Unreslri¢led fu1$ are avwlthe for use al the discretion of the tNstees lo further any of the charlty's purposes. Dosignated funds ar& unreslrtcted funds earmthed by the truslges for parDcular lulure projocl or commiknenl. Restricted funds are subjecled lo reslfictions on their expermliture declared by the donoy or through the terms of an appeal, and fall into on8 of sub-classos.. restricted income funds or 8ndowmenl lunds.
LOC FOUNDATION Noles lo the Financial Stalements (conthuedj Year ended 31 December 2022 Accountlng pollcles {¢oniiiwd) Incomlng regources All incoming resources are included in the staternent of linanual actmtes when enlillement has passed to the eharSty,' It Is probable that the economic benefits associaled with ihe transaction will ow to the charily ar..d the amount can be reliably measured. The followrrfJ s¢111¢ pobcies are applied lo particular categories of income.. income frorn donations or grants is recognis¢d when there is evidgrte of entittement to the gift, recelpt is probable and its amount can be measured reliably. Iwacy income is recognised when receipt i8 probtho and entitlement is established. Inoome from donated goLxJs is mèasured at the l&r value of the goods unless Ihis is impractical lo measure reliably, in whieh case the vdue is derived from the cost lo the donor or the 8slimated resde vJue. Donated la¢ilities aThJ serrices are recognised in tho aceounls when received rf the value can be reliably measured. No amounts af8 included lor the conlribLJliorb of geneid volunieers. irKorne from contracts for the supyly of setmces is rOgnIsed with the delivery ol the contracted service. This classrfied as unrestricted fuids unless there 15 a contractual requirem¢nl for rt lo be spwt on a partlar purpose and returndl il unspent. in which case it may be regarded as reStrted. Re8ource8 expended Expenditure is recognised on an accnJals basis as a liatmlity is incurr&d. Expenditure includes any VAT which cannot be lully recovered, and is classrfied under headi4gs of the statement of financial actwilies to whh it relates: expenditure on raising funds includes the costs of all fundraigng activities. events, non- chariiabl8 trading acb"vilies. and the sale ol donated g¢J)ds. expenditure on charitable activr(ies includes all costs incurred by a charity in undertaking activities that further ils charitable aims for the benefrt ol ils beneficiaries, including those support costs and costs relating to the governancg of ts charity apFX)rtioned to cfr.arilable aclivtties. other expendrture includes all expendr(ur¢ that is neilher relatsd lo rWsl funds lor the charity nor part of its expenditure on charitable actwibes. All costs are allocated to exper[lUre categories r8qe¢l'ThJ the use ol Ihe resource. Direct costs attributable to a single activity are ailocat¥J diTecdy io Ihal acl'.wty. sb.ared costs are apportioned belween the activities they contribule lo on a reasonaNe, justrfiable and consistent basis. Flnanclal instruments A financial asset or a financi liability is recognised onty when the charty tecomes a paty lo the contractual provisions of the inslrumenL Basic financial inslrum8nts are inilially recognised at the arnount receivable or payab including any related transaction costs.
LOC FOUNDATION Notes to the Flnancial Stalemenls (conURued) Year ended 31 December 2022 Accountlng pollcles iwn1lmdj Flnanclal Instruments (conth Currom assets and current liatyloS are subsequenty Measur al the eash or other consid8ration expected to be or receIv1 and not discounted. Debt instruments are subsequenity measured at amorbsed cost. Whero investrnonls In shares are publicty traded or Ihgir Iwr vdue can otherwise be maasured reliably, the investment is subsequendy measured al lair value with changes in lair value recognised in income and experKJiture. All other such invesknenls are subsgquenlly measured al cost less impami8nt. other linanaal instruments. Incluaing derivatives. are initially recogni* al fair value, unle8S payment for an asset is éelerred beyond nomiej business terms or financed al a rale of inteyest that is not a markgt rat, in which case the asset is measufed al the present valug ol th8 futL4re payments discounted al a rnarkgt rate of interest lor a similar debt instrument. Other financial inslrumenls are subsw4uenUy measured al fair vdu&: with any changes recognise(5 in the sla4ement of fflnanci activities. wilh the exception of hgdging instruments in a designated hedging relationship. Financid assets that are measured al cosl or amortised eosi are reviewed for 0.ectiv8 8vid8nce of impairment al the end ol each reporbThJ dal8. 11 thèrg is olieclive evidence of Impairment, an impairment loss is recognised under thg awropriale heading in the statement ol linancial activities in whh the infLiai gan was recognised. For all equty instruments regardless ol signrficance. and olher financi assets that ar IndividulY signilicanl. Ihese are assessed irKlividualty for Imprment. Other financial assets are either assessed Indimdually or grouped on the basis ol similar credit risk charaCterists. Any reversals ol impairment are recognised immediately, lo the extent thal Ihe reversal does ntst resL¢It in a carrying amount ol Ihe lin2ncia asset that exceed5 what th8 carrying amount Would have been had the impaimienl nol previously been rKognised. Donatlons and leg8cles Unrestrlcled Furxls ReStred Total Funds Funds 2022 Donation$ Donations 6.7&5 3,471 10,256 Glfts HMRC Gift AKJ 1,712 8,497 1,712 11,968 3,471 Unrestrcted Funds Restricted Total Funds Funds 2D21 Donatlons Donations 8,342 21,450 29,792 10
LOC FOUNDATION Notes to the Financial Statemenls {¢0nVn) Year ended 31 December 2022 Donatlon$ and lega¢les (Lnnu80) Unrestr cled FuThls Restricted Total Funds Funds 2021 Glfts HMFtC Grft 8,342 21,450 29,792 Costs of other trading acllvllles Unrestricted Total Funds Unrestricted Total Fuyds Funds 2022 Funds 2021 Costs of other trading activities- Advertising and publicity 2,082 2,082 Expondltur8 on charltable activltles by lund typg Unreslricled Funds Restricted Totgl Funds Funds 2022 Charltablg Activities Support costs 978 722 9,253 10.231 722 1.700 9,253 10,953 Unrestrict8d Funds Restricted Total FurKas Funds 2021 charitale Aclivili8S Support costs 2,709 654 12.740 15,450 653 3,363 12.740 16,103 ExpendiluTr On charttable actlvltles by actlvltylype Actsvilies undertaken directty Support costs Total funds 2022 Total fund 2021 Charitable Actiwties Governance costs 10,231 10,231 722 15,450 653 722 10,231 722 10,953 16,103 11
LOC FOUNDATION Notes to the Flnancial Statements (¢onUnu Year ended 31 December 2022 Indgpgndent 9xAmlnallon fee8 Period from Year to 14 Oct 20 10 31 Dec 22 31 Dec 21 Foes payable lo the independent examiner for: Independent exarrjination ol the tinanaal slalemenls Other linanryal servvs 200 300 300 300 600 600 Staff costs The average head count ol employees during Ihe year was Nil12021'. NID. No employee received employee benefits ol more than 260,OCK) during the year12021: NID. 10. Trustee remuneratlon and expenJe8 No sdaries or waggs have been pwd lo employees. inCtlIng the members of the committee, during tho year. The Trustees received no rgmuneration or expenses lor acting as Iruslees. During the year the 10t ol 8xpens8 reimbursed lo the truslee5. incurred in the course ol acting as members of thg charity. amounted to £Nil. 11. Credltors: omourrts talllng due wlthln one year 2fY22 2021 Trade creditors Accruals arKi deferred income 551 600 1,0 600 1,151 1.600 12. Analysis of charftable furKIs Unrestricted funds At 1 January 202 At 31 December 2022 Income ExFenditure Transfers Gen8r81 funds 2,897 8.497 {1:9801 2,928 12,342 Ai 14 Octoter 20 20 At 31 December 2021 Iwme Expenditur8 Transfers General lund5 8,342 15,445} 2,897 12
LOC FOUNDATION Notes to the Financlal Stslements f¢onlknueLI) Year ended 31 December 2022 12. Analysls ol charllab19 funds (eonttn Restricted lunds At 1 January202 31 December 2022 Irwme Expenditure Transfers Reslrict8d Fund 1- desc in alcs 8,710 3,471 19,253} {2.9281 Al 14 Octob8r 20 20 At 31 December 2021 Income Expendf(UTe Transfers Fleslricled Fund 1- desc in 8Jcs 21,450 112,7401 8,710 13. Analysls of net assets beaween funds UnrestrFcled Funds Restricted Total Funds Funds 2022 Tangiblg fixed assets 12,342 12,342 Unreslricl8d Furn1s Restricted Total Funds Funds 2021 Tangib fLXgd assets 2,897 8.710 11,607 1 Analysis of changes In ng1 debt At At 1 Jan 2022 Cash flows 31 Dec 2022 Gash at bank arKI in hand 13,207 286 13,493 13
LOC FOUNDATION Management Information Year ended 31 December 2022 The followlng pages do not forni part of the flnanclal statemgnts. 14
LOC FOUNDATION Detailed Slalement of Financial Actlvltles Year ended 31 December 2022 Pèriod from 14 Oct20to 31 Dec 21 Year to 31 Dec 22 Incomo and endowments Donatlon8 and lega¢les Donations HMFIC Gill Aid 10,256 1,712 11,968 29,792 29,792 Total Income 11,968 29,792 Expendlture Costs of other tradlng a¢VItIeS DetsiledSOFAExpenditureOnOtherTradingAcbvTtiesType1 H 280 2,082 Exp8ndilure on charltable acllvltles Purchases Legal and professional fee8 Other office costs Olh9r interest payabl¢ atKI similar charges Direct charitab18 aclivty- Water Dir&ct charitable aclivty- Food Direct charitsble activity- Edation Direct charitable activity- Eid & QuTbani Direct charitable actiwty- Community 978 2,709 600 98 24 1,180 923 280 53 4,957 3,305 2,479 2.000 6,870 10,953 16,103 Total oxpendlture 11,233 18,185 Net Income 735 11,6Q17 15
LOC FOUNDATION Notes lo the Detailed Stalement of Financial Aclivities Year ended 31 December 2022 Period from Year to 140c120to 31 Dec 22 31 Dec 21 Cost8 of other tradlng actlvltles Costs of other tmdlng actlvltles- Advertlslng and publlclty Advertising and publicity- Events, Marketng & FudrSing Costs 280 2.082 Costs of other Irading aoilvllles 280 2,082 Expondlturo on charltable activities Charltable Activities Actlvllles undertaken dlreclly Dirgct charitable activity- General Direct charitable activity- Water Direct charitable activty- Food Diroci Charitable actiVty- EdLatIOn Dirgct charitabl8 aclivty- Eid & Qurbani Direct charitsble activity- Community 978 1.180 923 280 2,709 4,957 3,305 2,479 2,000 6,870 10,231 15,450 Governance c08ts Governance costs - accountancy lees Governancg costs- other olli¢e cosls Governance costs- bank charges 600 98 24 600 53 722 Expenditure on charitable actlvltles 10.953 16,103 16