Charity registration number 1191836
JOY OF KINDNESS FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
JOY OF KINDNESS FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Dr T Afshar Mrs L Afshar Charity number (England and Wales) 1191836
JOY OF KINDNESS FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Statement of fnancial actvites | 4 |
| Balance sheet | 5 |
| Notes to the fnancial statements | 6 - 11 |
JOY OF KINDNESS FOUNDATION
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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).
Objectives and activities
The objects of the charity are to advance such charitable purposes (according to the law of England and Wales) by the making of such grants and awards as the trustees see fit from time to time. In particular but not exclusively for the following purposes:
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The advancement of health or saving of lives
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The advancement of education
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The conservation, preservation, protection and improvement of the physical and natural environment
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The prevention or relief of poverty.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
The charity paid out one grant in the year. The trustees are focusing on increasing activity in the next financial year.
Financial review
The charity received income of £nil and incurred expenditure of £890, resulting in a deficit for the year of £890 (2023: £495 surplus). Total reserves at 31 December 2024 were £304 (2023: £1,194). All reserves relate to general funds.
The charity is in the process of formulating a formal reserves policy.
Structure, governance and management
The charity is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission in England and Wales.
The trustees who served during the year and up to the date of signature of the financial statements were: Dr T Afshar
Mrs L Afshar
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JOY OF KINDNESS FOUNDATION
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees' report was approved by the Board of Trustees. .............................. Taha Afshar
Dr T Afshar
Trustee
Date: ............................................. 28/10/2025
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JOY OF KINDNESS FOUNDATION
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees are responsible for preparing the Trustees' 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 and 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 year.
In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 operation.
The trustees are responsible for keeping sufficient 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.
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JOY OF KINDNESS FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donatons and legacies | 2 | - | 2,025 |
| Total income | - | 2,025 | |
| Expenditure on: | |||
| Charitable actvites | 3 | 890 | 1,530 |
| Total expenditure | 890 | 1,530 | |
| Net income/(expenditure) and movement in funds | (890) | 495 | |
| Reconciliaton of funds: | |||
| Fund balances at 1 January 2024 | 1,194 | 699 | |
| Fund balances at 31 December 2024 | 304 | 1,194 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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JOY OF KINDNESS FOUNDATION
BALANCE SHEET
AS AT 31 DECEMBER 2024
| Notes Net assets Current assets Debtors 7 Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets Income funds Unrestricted funds |
2024 £ - 1,144 1,144 (840) |
£ - 304 304 304 |
2023 £ 698 496 1,194 - |
£ 1,194 |
|---|---|---|---|---|
| 1,194 | ||||
| 1,194 |
The financial statements were approved by the Trustees on ......................... 28/10/2025
Taha Afshar
..............................
Dr T Afshar Trustee
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JOY OF KINDNESS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
Charity information
Joy of Kindness Foundation is a CIO and was registered with the Charity Commission in England and Wales on 15 October 2020.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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JOY OF KINDNESS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies (Continued)
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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JOY OF KINDNESS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies (Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2 Donations and legacies
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Donatons and gifs | - | 2,025 |
3 Charitable activities
| Grants paid Accountancy |
2024 £ 50 840 890 890 |
2023 £ - 1,530 |
|---|---|---|
| 1,530 | ||
| 1,530 |
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JOY OF KINDNESS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
4 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
5 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
| There were no employees whose annual remuneraton was more than £60,000. |
Remuneration of key management personnel
The remuneration of key management personnel was as follows: £nil.
6 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
7 Debtors
| Amounts falling due within one year: Other debtors 8 Creditors: amounts falling due within one year Trade creditors |
2024 £ - 2024 £ 840 |
2023 £ 698 |
|---|---|---|
| 2023 £ - |
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JOY OF KINDNESS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
9 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 January | Incoming | Resources | At 31 | |
|---|---|---|---|---|
| 2024 | resources | expended | December | |
| 2024 | ||||
| £ | £ | £ | £ | |
| General funds | 1,194 | - | (890) | 304 |
| Previous year: | At 1 January | Incoming | Resources | At 31 |
| 2023 | resources | expended | December | |
| 2023 | ||||
| £ | £ | £ | £ | |
| General funds | 699 | 2,025 | (1,530) | 1,194 |
10 Analysis of net assets between funds
| Unrestricted | |
|---|---|
| funds | |
| 2024 | |
| £ | |
| At 31 December 2024: | |
| Current assets/(liabilites) | 304 |
| 304 | |
| Unrestricted | |
| funds | |
| 2023 | |
| £ | |
| At 31 December 2023: | |
| Current assets/(liabilites) | 1,194 |
| 1,194 |
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JOY OF KINDNESS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
11 Related party transactions
Unrestricted donations from trustees and related parties totalled £nil during the year (2023: £1,860).
Included within other debtors in 2023 is £698 due from Lifeboat Capital Ltd, a company where T Afshar is a director. This amount was repaid on 15 January 2024.
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