**Charity Registration Number: 1191999**
## **SPECTRA FOUNDATION**
**Unaudited Financial Statements Year Ending 31 July 2021**
## **SPECTRA FOUNDATION**
## **Financial Statements Year Ending 31 July 2021**
## **Contents**
||**Page**|
|---|---|
|Trustee's annual report|**2-3**|
|Statement of financial activities ( including income|**4**|
|and expenditure account)||
|Statement of financial position|**5**|
|Notes to the financial statements|**6-9**|
_Taxhelp Accountants Limited_
Page 1
## **SPECTRA FOUNDATION**
**Trustees' Annual Report**
**Year Ending 31 July 2021**
The trustees, who are the management of the organisation present their report and the unaudited financial statements of the charity for the year ended 31 July 2021.
## **Reference and administrative details**
|**Registered charity name**|SPECTRA FOUNDATION|
|---|---|
|**Charity registration number**|1191999|
|**Registered charity address**|Oak Road|
||Oldham|
||OL8 3UJ|
|**The trustees**|Abubakr Siddique – Chairman|
||Mohammed Mohsin Uddin|
||Mohammad Rashad Ahmed|
|**Independent examiner**|Muhammad Usman Ansari|
||Certified Accountant|
||390-392 High Road|
||Balfour Business Centre|
||Ilford|
||IG1 1BF|
|**Bankers**|Natwest Bank Plc|
||438 Barlow Moor Road|
||Chorlton-Cum-Hardy|
||Manchester|
||M21 0MW|
_Taxhelp Accountants Limited_
Page 2
SPECTRA FOUNDATION
Trustees, Annual Report
Year Ending 31 July 2021
The trustees present their report and the financial statements for the year ended 31 July 2021. The financlal
statements have been prepared on the 8ccounting policies set out on page 6; comply with the constitution, applicable
law and appllcable accounting standards.
Objects, principal activities and organisation of the Charity
SPECTRA FOUNDATION is a charitable incorporated organisation registered with the Charity Commission
on 27 October 2020 and govemed by its constitution of 15 May 2020 .
The objects of the charity are to advance the academic and Islamic Education
Operational and financial review
The charity made a net surplus of £0.
Donations during the year valued to £4956.
Trustees
Trustees, who served during the year are set out on page 2,
Statement of Trustees. Responsibilities
The Charities Act requires the trustees to prepare financial statements for each financial year, which give a true and
and fair view of the state of affairs of the charity at the end of the year and of the incoming and outgoing reSoUrS for
the year ended.
In preparing those financial statements, the trustees are required to select suitable accounting policies and then
apply them consistenlly, making judgements and estimates Ihat are reasonable and prudent. The Trustees must also
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will
continue its activities.
The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any
time the financial position of the charity and enable them to ensure that the financial statements comply with
applicable law, regulations and the constitution. They are also responsible for safeguarding the assets of the charity
and hence for takn'ng reasonable steps for the prevention and detection of fraud and other irregularities.
.This report has been prepared in accordance with the Statement of Recommended Practice-Accounting and
Reporting by, Charities.
Approved by the trustees and signed on their behalf by
Mr. Abubakr Siddique
Chairman
Date:
Mr. Mohammad Rashad Ahmed
Trustee
Date:
29 Sep 2022
29 Sep 2022
Toxhelp Accountants Limited
Page 3
## **SPECTRA FOUNDATION**
## **Statement of Financial Activities**
**(including income and expenditure account) Year Ending 31 July 2021**
|**Income**
Donations
Grants
Tuition fees
**Total income**
**Expenditures**
Charitable Activities
Wages and salaries
Temporary staff and recruitment
Staff training
Travel and subsistence
Rent & Rates
Light and heat
Cleaning
Telephone, Fax and Internet
Books,Educational and Stationery expenses
Subscription
Bank charges
Insurance
Equipment hire
Repairs and maintenance
Accountancy fees
Other legal and professional
**Depreciation:**
Equipments, Fixtures and Fittings
**Total Expenditure**
**Net Income and net movement in funds**
**Reconcilliation of funds**
Total funds brought forward
**Total funds carried forward**|Unrestricted
funds
**Total funds**
£
£
4,956.00
**4,956.00**
-
**-**
-
**-**
4,956.00
**4,956.00**
4,956.00
**4,956.00**
-
**-**
-
**-**
-
**-**
-
**-**
-
**-**
-
**-**
-
**-**
-
**-**
-
**-**
-
**-**
-
**-**
-
**-**
-
**-**
-
**-**
-
**-**
-
**-**
-
**-**
-
**-**
**(4,956.00)**
**(4,956.00)**
-
**-**
-
**-**
-
**-**
**2021**|**2020**
Total funds
£|
|---|---|---|
|||**-**|
||||
|||-|
||||
|||-|
||||
|||-|
The statement of financial activites includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
_Taxhelp Accountants Limited_
Page 4
SPECTRA FOUNDATION
Statement of Financial Position
Year Ending 31 July 2021
Notes
2021
2020
Fixed Assets
Tangible Fixed Assets
Current Assets
Debtors
Cash at Bank and in Hand
Creditor5
Amount falling wlhin one year
Amount falling more than one year
Net Assets
Funds of the charity
Unrestncted funds
Total charity funds
These financi31 staterHents IPage 5-61 were approved by Ihe tx)ard ol Iru5tees and authorised for the issue on
29 Sep 2022 and are signed on behalf of the board by".
Mr. Abubakr Siddiqufr
Chaiman
Date..
29 Sep 2022
raxhelp Accountonts Limrted
Page 5
## **SPECTRA FOUNDATION**
## **Notes to the Financial Statements Year Ending 31 July 2021**
## **1. General information**
The charity is a public benefit entity registered in England and Wales. The address of the registered office is Oak Road
Oldham OL8 3UJ
## **2. Statement of compliance**
These financial statements 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 with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
## **3. Accounting policies**
## **Basis of preparation**
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **Going concern**
There are no material uncertainties about the charity's ability to continue.
## **Judgements and key sources of estimation uncertainty**
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
There have been no judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
_Taxhelp Accountants Limited_
Page 6
## **SPECTRA FOUNDATION**
## **Notes to the Financial Statements (continued) Year Ending 31 July 2021**
## **3. Accounting policies (continued)**
## **Incoming resources**
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- income from tution fees, donations and grants are recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
- income from tution fees, donations or grants are unrestricted funds unless specified from source and hence treated accordingly.
- legacy income is recognised when receipt is probable and entitlement is established.
- income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
- income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
## **Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
- expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
## **Tangible assets**
Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £2,000 are not capitalised.
_Taxhelp Accountants Limited_
Page 7
## **SPECTRA FOUNDATION**
## **Notes to the Financial Statements (continued) Year Ending 31 July 2021**
## **3. Accounting policies (continued)**
## **Financial instruments**
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
_Taxhelp Accountants Limited_
Page 8
## **SPECTRA FOUNDATION**
## **Notes to the Financial Statements (continued) Year Ending 31 July 2021**
## **4. Statement of funds**
|**4. Statement of funds**|||
|---|---|---|
|**Unrestricted funds**
At the start of the period
Income during the period
expenditure during the period
Total Unrestricted funds at the end of the period
**Restricted funds**
At the start of the period
Income during the period
expenditure during the period
Total Restricted funds at the end of the period|**2021**
**£**
-
4,956.00
(4,956.00)
-
Nil
Nil
Nil
Nil|**2020**
**£**
-
-
-|
|||-|
|||Nil
Nil
Nil|
|||Nil|
_Taxhelp Accountants Limited_
Page 9
## **Trustees' Annual Report for the period**
||Period start date|Period start date|||Period end date|Period end date||
|---|---|---|---|---|---|---|---|
||Day|Month|Year||Day|Month|Year|
|**From**|27|10|2020|**To**|31|07|2021|
## Section A Reference and administration details
**Charity name SPECTRA FOUNDATION Other names charity is known by Registered charity number (if any)** 1191999 **Charity's principal address** Oak Road Oldham **Postcode OL8 3UJ**
**Names of the charity trustees who manage the charity**
|1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year **|**Name of person (or body) entitled**
**to appoint trustee (ifany)**|
|---|---|---|---|---|
||Abubakr Siddique
(Chair)||||
||Mohammed
Mohsin Uddin||||
||Mohammad
Rashad Ahmed||||
||||||
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||**Names of the trustees for the charity, if any, (for example, any custodian trustees)**|**Names of the trustees for the charity, if any, (for example, any custodian trustees)**|
|---|---|---|
||**Name**|**Dates acted if not for whole year**|
||||
**TAR**
March **2012**
1
**Names and addresses of advisers (Optional information) Type of adviser Name Address Name of chief executive or names of senior staff members (Optional information)**
## **Section B Structure, governance and management**
## **Description of the charity’s trusts**
CIO FOUNDATION CONSTITUTION Type of governing document (eg. trust deed, constitution) How the charity is constituted (eg. trust, association, company) APPOINTED BY Trustee selection methods (eg. appointed by, elected by)
## **Additional governance issues (Optional information)**
You **may choose** to include additional information, where relevant, about:
- policies and procedures adopted for the induction and training of trustees;
- the charity’s organisational structure and any wider network with which the charity works;
- relationship with any related parties;
- trustees’ consideration of major risks and the system and procedures to manage them.
## **Section C Objectives and activities**
**TAR**
March **2012**
2
FOR THE PUBLIC BENEFIT THE RELIEF OF THOSE IN NEED ANYWHERE IN THE UK BY REASON OF YOUTH, AGE, ILL-HEALTH, DISABILITY, OR SOCIAL OR ECONOMIC DISADVANTAGE IN **Summary of the objects of the** PARTICULAR BUT NOT EXCLUSIVELY, BY PROVIDING FOOD AND **charity set out in its** MEDICAL PROTECTION. **governing document** DUE TO COVID-19 RESTRICTION IN PLACE CHARITY ACTIVITIES WERE LIMITED TO WEEKLY FOOD DISTRIBUTION TO INDIVIDUALS, SCHOOLS CAREHOMES AND HOSPITALS.
SPECTRA FOUNDATION ALSO DISTRIBUTED PPE (PERSONAL PROTECTIVE EQUIPMENT) TO INDIVIDUALS, SCHOOLS CAREHOMES AND HOSPITALS.
**Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)**
## **Additional details of objectives and activities (Optional information)**
**TAR**
March **2012**
3
You **may choose** to include further statements, where relevant, about:
- policy on grantmaking;
- policy programme related investment;
- contribution made by volunteers.
## Section D Achievements and performance
**TAR**
March **2012**
4
Section D Achievements and erformance p
**Summary of the main** BECOMING REGISTERED CHARITY IN ENGLAND AND WALES. **achievements of the charity during the year** GROWTH OF SOCIAL MEDIA PLATFORM. DISTRIBTION OF READY-MADE FOOD AND PPE (PERSONAL PROTECTIVE EQUIPMENT)
FORMATION OF DISTRIBUTION CHANNELS TO SCHOOLS, CAREHOMES, HOSPITALS AND INDIVIDUALS.
**TAR**
March **2012**
5
Section E
Financial review
NO RESERVE POLICY THIS YEAR
Brief statement of the
charity's policy on resèrves
Details of any funds rnaterially
in deficit
NONE
Further financial rnvlew detalls (Optional Informatlon)
You may choose to include
additional infomalion, whe
relevant about..
the charity's principal
sources of funds {induding
any fundraising)..
how expenditure has
supported the key objectives
of the charity.,
investment policy and
objectives including any
ethical investment policy
adopled.
Section F
Other optional information
Section G
Declaration
Tho trustees declare that they have approved the trustees, report above.
Slgnod on behalf of the charlty's trustees
Signatura{s}
Mohammad Rashad Ahmed
Full name{s)
Position (og Secrotsry, Chair,
etc)
Abubakr Siddique
Chair
Tnjstee
Date
29-09-2022
TAR
March 2012