CHARITY REGISTRATION NUMBER: 1191798 LOC FOUNDATION Unaudited Financial Statements 31 December 2023 Chartered Certified Accountants 1 Concord Business Centre Concord Road London UK W3 OTJ LOC FOUNDATION Financial Statements Year ended 31 December 2023 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities ststement of financial position statement of cash ftows Notes to the financial statements The following pages do not form part of the flnancial statements Detailed statement of financial activities 14 Notes to the detailed statement of financial activities 15 LOC FOUNDATION Trustees. Annual Report Year ended 31 December 2023 The trustees present their report and the unaudited financial statements of the charity for the year endod 31 December 2023. Reference and administratlve detalls Registered charity name LOC FOUNDATION Charity re9tstration number 1191798 Principal office 18 Chestnut Walk Watford WD24 6NS England The trustees Mr SAhmed MrFAIi Ms M Ahmed MrUAIi Independent examiner KBM VK LTD 1 Concord Business Centre Concord Road London UK W3 OTJ Stru¢ture, governance and management LOC Foundation is charitable incorporated organisalion, were incorporated on 14 October 2020. The day to day running of the charity is led by managing Iruslee, Mr Faisal Ali who manages the daily activitie5 of the charity and managemgnt related tasks. Mr Ali also participates in fundraising for the charity and travels to places where charitable activities are undertaken. Objectives and activitlgs The charity helps poor families, schools, children along the line of control. This ranges from sending clothes, provide slalionery equipment for schools. promding medical aid and IT equipment for the poor. The main objectives of the organisalion are.. The prevention or relief of povety amongst those livtng in Kashmir Nakyal Sector by the provision of grants of items, equipment and funds to relieve their needs and the relief and assistance of people in Kashmir Nakyal Sector, who are victims of war or natural disaster, trouble or catastrophe in particular by the supply of grants. The relief of financial nee(1 and suffering among Metims of natural or other kinds of disaster in the form of money lor other means deemed suitable} for persons. bodies, organisalions affected In such ways as the trustees shall think frt. LOC FOUNDATION Trustees. Annual Report (conlinued) Year ended 31 December 2023 Achievements and performance In the year 2022- 2023. charity has eollecled donation from individuals lo fund and support rts activities and projects in Kashmir Nakyal Sector. Some of them afe highlighted below, As a major milestone, We have successfuly completed the construction of unpaved road with bridge allowing easiser access lo the local population of over 100 thousands living closer to LOC in Kashmir lo the main highway. This project is expected lo generate enomous benefts for the inhabitant5 of those villages in the form of easier journey to major towns. better aC￿sS to health care and educational fa¢ililies. We have helped drilled a water borehole at the school in Kashmir onsuring the constant supply of fresh clean water for everyone in School. Financial review The Charity received donation and funds £12,476 during the period. Total outgoin9 resources amounted lo £10,260 of which £9,972 was expended on direct charitable activities and £288 on the costs of running the office and on other Governance costs. Total available funds at 31 December 2023 amounted lo £14,709 of which £14,709 related lo unreslricled funds and £nil was available lor ieslricled purposes. The Trustee5 are satisfied that the charity's activities during the period have mel their objedives and are satisfied with the financial positDn al the period end. The Iruslees, annual report was approved on 17 May 2024 and signed on behalf of the board of trustees by.. Mrs Ahmed Trustse LOC FOUNDATION Independent Examiner's Report to the Trustees of LOC FOUNDATION Year ended 31 December 2023 I report to the trustees on my examination of the financial slalemenls of LOC FOUNDATION {Ihe chariv) for the year ended 31 December 2023. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance wbth the requirements of the Charities Act 2011 {'Ihe Act,). I report in respect of my examination of the charittys financial slalemenls carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charty Commission under section 145151{bl of the Act. Independent examlner's statement I have completed my examination. I confirm that no material matters have come lo my attention in connection with the examination giving me cause to believe that in any material resped_' accounting records were not kept in respect of the charty as required by section 130 of the Ad., or the finaneial statements do not &cord with those records,. or the financial statements do not comply wlh the applicable requirements concerning the fom) and conlenl of accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair, view which Is not a matter considered as part of an independent examination. I have no concems 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. KBM KBM UK LTD Independent Examiner 1 Concord Business Centre Concord Ro￿1 London UK W3 OTJ LOC FOUNDATION Statement of Financial Activities Year ended 31 December 2023 2023 Restricted funds Total funds 2022 Unrestricted funds Total funds Note Income and endowments Donations and legacies Total Income 9.726 2,750 12,476 11,968 9,726 2.750 12,476 11,968 Expendlture Expenditure on raising funds.. Costs of other tsading activities Expenditure on Charitable aclmlies Total expenditure 288 1,148 1,436 288 9.972 10.260 280 10.953 11,233 8.824 8,824 Not incomg 8.290 16,0741 2,216 735 Transfers belween funds (6.0741 6.074 Net movement in funds 2.216 2.216 735 Reconciliation of fund$ Total funds brought forward Total funds carried forward 12.342 12,342 14.558 11,607 12,342 14,558 The statement of financial activities includes all gains and losses recognised in the year. All income and expendilure derive from contsnuing aclivilie8. The not88 on pages 7 to 12 forrn part of the¥e finan¢lal 8tstemgnts. LOC FOUNDATION Statement of Financial Position 31 December 2023 2023 2022 Current assets Cash al bank and in hand 15.709 13,493 Credltors: amounts falllng due wlthln one year N9t current assets 11 1,151 14,558 1,151 12.342 Total as$9t$1g$$ currgnt Ilabllltles 14.558 14.558 12,342 12.342 Net assets Funds ot the charlty Unreslricled funds 14.558 12,342 12.342 Total charty funds 12 14.558 These financial slalements were approved by the board of trustees and authorised for issue on 17 May 2024. and are signed on behalf of the board by.. Mr S Ahmed Trustee The notes on pages 7 to 12 forni part of these flnanclal ststements. LOC FOUNDATION Statement of Cash Flows Year ended 31 December 2023 2023 2022 Cash flows from operatlng act1v1￿e$ Nel income 2,216 735 Adjustments for.. Interest payable and similar charges 27 24 Changes in." Trade and other creditors 1449} 310 Cash generated from operations 2,243 Interest paid Nel cash from operating activities 127) 2.216 1241 286 Net increase in cash and cash equivalents Cash and cash equlvalents at beglnnlng of year Cash and cash equivalents at end of year 2,216 13,493 15,709 286 13,207 13,493 The note5 on pages 7 to 12 fomi part of these flnanclal statements. LOC FOUNDATION Notes to the Financial Statements Year ended 31 De¢ember 2023 General infomiation Th¢ charity is a publrc benefit enlily and 8 iegistered charity in England and Wales and is unincorporaed. The address of the pllncipal office is 18 Chestnut Walk, Watford, WD24 6NS, England. Statement of compllan¢e These financial slalements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance Mrilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Chariknes SORP IFRS 1021} and the Charities Act 2011. Accounting policies Basls of preparation The fi'nancial statements have been prepared on the historical cost basts, as modrfied by the revaluation of certain financi81 assets and liabilities and investment properties measured at fair value through income or expenditure. The financial slalemenls are prepared in slerDng, which is the functional currency of the entity. Going concem There are no material uncertainties about the charitys ability to continue. Judgements and key sources of estimation uncertainty There are no material uncertainties about the Charit￿S abilty to continue. Fund accounting Unreslricled funds are available for use at the discretion of the twstsos to furthgr any of the charitys purposes. Designated funds are unrestrided funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to reslriclions on their expenditure declared by Ihg donor or through the terms of an appeal, and fall into one of two $ub