Trustees. Annual Report for the period Perlod start date Period end date th From 01 08 2022 To 31 2023 Section A Reference and administration details Charlty name SPECTRA FOUNDATION Other names charlty Is known by Reglstered charity number (Sf any} 1191999 Charity's principal address Oak Road Oldham Posl¢ode OL8 3UJ Names of the charity trustees who manage the charity Truth• Offlce Ilf •nyl D•ts• •ctsd Sf notfor wthol• y•ar Namg of p•r•on lor body) entitl•d to appolnt trust•• Ifan Abubakr Siddique (Chair) Mohammed Mohsin Uddin Mohammad Rashad Ahmed 10 Names of the trustees for the charity, if any, (for example. any custodian trustees) Name Dates acted if not for whole ear TAR March 2012 Names and addresses of advisers (Optlonal Information) e of adviser Name Address Name of chief executive or name$ of senior staff members (Optional information) Section B Structure, overnance and mana ement Description of the charity'$ trusts CIO FOUNDATION CONSTITUTION Type ofgoveming document How the charity is constituted Truslee selection methods APPOINTED BY Addltional governance issues (Optional infomiation) You may choose to include additional information. where relevant. about.. policies and procedures adopted for the induction and training of trustees.. the charity's organisalional structure and any wider network with which the charity relationship with any related parties. trustees, consideration of major risks and the system and procedures lo manage them. TAR March 2012 Section C Ob'ectives and activities 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 PARTICULAR BUT NOT EXCLUSIVELY, BY PROVIDING FOOD AND MEDICAL PROTECTION. Summary of the obj•¢ts of the charily set out in its governing documenl THE SPECTRA FOUNDATION CHARITY HAS SIGNIFICANTLY HELPED FAMILIES THROUGH THEIR MOBILE FOOD BANK. ENSURING THAT ESSENTIAL, NUTRITIOUS FOOD REACHES THOSE IN NEED WHEREVER THEY ARE LOCATED. THEY HAVE ALSO PROVIDED HOT MEALS TO THE HOMELESS. OFFERING COMFORT AND SUSTENANCE TO INDIVIDUALS WHO ARE OFTEN THE MOST VULNERABLE IN OUR COMMUNITIES. ADDITIONALLY, FOOD BAGS ARE REGULARLY DISTRIBUTED TO THE VULNERABLE AND NEEDY ONES, ENSURING THAT EVERYONE HAS ACCESS TO BASIC GROCERIES AND NUTRITIOUS ITEMS. FURTHER, THE FOUNDATION GOES BEYOND FOOD ASSISTANCE BY PROVIDING SLEEPING PODS TO HOMELESS PEOPLE, OFFERING THEM A SAFE AND SECURE PLACE TO REST. THROUGH THESE COMPREHENSIVE EFFORTS, THE SPECTRA FOUNDATION CHARITY PLAYS A CRUCIAL ROLE IN ALLEVIATING HUNGER AND SUPPORTING THE WELL-BEING AND DIGNITY OF DISADVANTAGED INDIVIDUALS AND FAMILIES. Summary of the main activities undertaken for the publlc benefit in relatlon to these objects {include wlthln this section the statutory declaration that trustees have had regard to the guidance issued by the Charlty Commission on public benefit) Addltlonal details of objectives and activities Ioptlonal Information) TAR March 2012 You may choose to include further statements, where relevant. about.. policy on granl-making., policy programme-relaled investment. Contributions made by volunteers. Section D Achievements and performance Summary of the main achievements of the charity during tho year HELPED FAMILIES THROUGH THEIR MOBILE FOOD BANK AND PROVIDED HOT MEALS TO THE HOMELESS. DISTRIBUTION OF READY-MADE FOOD TO NEEDY ONES. FORMATION OF DISTRIBUTION CHANNELS TO SCHOOLS. CARE HOMES, HOSPITALS AND INDIVIDUALS. Section E Financial review TAR M8r¢h 2Q12 UNRESTRICTED FUNDS ARE AVAILABLE FOR USE AT THE DISCRETION OF THE TRUSTEES TO FURTHER ANY OF THE CHARITY'S PURPOSES. Brief statement of the charity's policy on reserves DESIGNATED FUNDS ARE UNRESTRICTED FUNDS EARMARKED BY THE TRUSTEES FOR FUTURE PROJECTS OR COMMITMENTS. 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. Details of any funds materially in deficil NONE Further financial revlew detalls (Optlonal Information) You may choose lo include additional information, where relevant about.. the charity's principal sources of funds (including any fundraising)., how expenditure has supported the key objectives of the charity. investment policy and objectives including any elhical investment policy adopted. Section F Other optional information TAR March 2012 Section G Declaration The trustees declare that they have approved the trustees, report above. Signed on behalf of the charity's Irustees Slgnature(s) Full namels) Abubakr Siddique Mohammad Rashad Ahmed Positlon (eg Secretary, Chair, etcl Chair Trustee Date 09-07-2024 TAR March 2012 Charlty Reglstratlon Number: 1191999 SPECTRA FOUNDATION Unaudited Financial Statements Year Ending 31 July 2023 v ACCOUNTANTS 390-392 Hlgh Rd, Balfour Bu8lneM Centr* Ilford, IGI IBF Emall .. Info@thetaxhelp.w. Tel: 0203 633 7008 SPECTRA FOUNDATION Financial Statements Year Ending 31 July 2023 Contents Page Trustee's annual report Independent examinerfs report lo the trustees Statement of financial activities l including income and expenditure accounll Statement of financial position Notes lo the financial ststements Toxhelp Accounronts Limited Page I SPECTRA FOUNDATION Trustees. Annual Report Year Ending 31 July 2023 The Iruslees. ar9 the managem8ni ol the organisalion present their reFx)rt and the unaudited finanu￿ slalements of the charity lor the year ended 31 July2023. Reference and adrninistrative details Regl$tered charlty name SPECTRA FOUNDATION Charity registration n￿rn￿r 1191999 Registered charity 8ddrès$ Oak Road Okjham OL8 3UJ The trustees Abubakr Sddlque- Chalman Mohammed Mohsin Uddin Mohammad Rashad AhnEd Independent examlner Muhammad Usman Ansari Ctrtlfitrd Accountant 3￿-292 HI￿ Road Balfour Business Centr8 IG1 1BF Bankers Natwesl Bank PIC 438 B8rlgw Moor Ro8d Chorllon-Curn+l8rdy Man¢hester M21 OMW roxhelpAccountonts Limited PaBe 2 SPECTRA FOUNDATION Trustees, Annual Report Year Ending 31 July 2023 The trustees pr85ent their report and Ihe financial statements for the year ended 31 July 2023. The fin8n¢i81 statements hgve been prepared on the accounliw wlicies set ￿t on page 6." comply with the constitution. applicable law aNd applicable accounting Standards. Objècts, prlnelp•l o¢tivitie$ and organi5ation of the Charity SPECTRA FOUNDATION 1$ a charitable incorporated organisalion regi51ered with the Charity Commission 27 October 2020 and 9overned by Its constitution of 15 May 2020 . The obj8Ct$ of the charity Is for the public benerrt the relief of thos8 in need 8nywhere in the UK. For the publi¢ benefit the relief of those in need anywhere ib the UK Operatlonal and finanel81 r¢vlew The charity rnade a nel surplu$ of £1899.5 Donations duriry th8 year valued to £12841.51£5138.36 in 20221. Trustees Trustees. served during the year are set out on page 2, Statement of Trusteès, Respon$lbiliti¢s The Charities Act requires the trustees to prepare financial slalemenls lor each financial y88r, which give a true and and lair view of the slate of affairs of the ¢harily al the end of the year and ol the incoming and outgoing resources lor the year ended. In preparing those financial slaternents, the trustees are required lo sele¢t suitable accounting policies and then apply Ihetn con51s1ently, making judgements and 88bmates that are reasonable ani£ prudent. The Tru518es must also p￿pa￿ the financial statements on the going concern basis unless it is inappropriate lo presume that the charity will continue its activities. The twstees are ￿spOnSible for keeping proper accounting rècords, which disclose with reasonable accuracy 8t any time the financial position of the Charity and enable thern lo ensure that the I￿nancial statements Comply wth applicable law. ￿gUlationS and the ¢onslitulion. They are also responsible for safeguarding the as$el$ of the charity and hence for tsking reasonable steps lor the prevention and detection of fraud and other irregularits'es. This report has been prepared in accordance with the Statement of Recornrnended Practice-Accounting and Reporling by Ch8ritie5. Approved by the trusie8s and signad on their behalf by Mr. Abubakr Siddique Chairman Dale". Mr. Mohamrnad Rashad Ahmed Trustee Dale.. 09 Jul 2024 09 Jul 2024 Taxhelp Accotsnionts Limited Page 3 SPECTRA FOUNDATION Independent Examiner's Report Year Ending 31 July 2023 I report lo the Iruslee5 Set out tsn page 2 on th& examinat*)n ofthe finanryal statements of SPECTRA FOUNDATION for the year ended 31 Juty 2023 Respon8ibilitles and basis of rgport A5 the charity's management committee you ￿e responSi￿e lor the p￿parat￿n of the fin8ntyal st8tèments,' you consider that an audit is ntst required forthe year under section 144(21 of the chariti.es Act 2011lthe 2011 Adl and that an independent ex8minab.on is required. It is my responstrjility to slate, on the basis ol procedures specified in the general directions given by the Charity Commissioners under section 4317llbl of the Aci, ¥thether parb'cular matters have corne to my attention. Independent examinerf$ statgmont I have completed my examination. I confirm that no matters have come to my attention in connection %bith the examination giving me cause lo believe". accounting records were not kept in respect of the charty as ￿qUired by 3ection 386 of the 2006 ACL or the financi?1 statements do not 8¢cord *ilh those records., or the financial statements do not compty with the a¢￿UnI1ng requirements of section 396 01 the 20(￿ Act other than any requirement that the accounts give a'tNe and tsirf view 13 ntst matter ¢onsidered as part of an independent 8xaminabon: or the ffinancial statements have not been Pfepared in aco)rdance wrth the mèthods and princAples of the Statement of Recommended Practice for accounting and reportityj ty charitses appliCat￿e to Char￿e3 preparing their accounts in accordance wth 1he Finan¢ial ReportJ"ng Standard applicabk in the UK and Republic of Ireland IFRS 1021. I have no concems and have comè auoss no other matters in (x)nnec*on the examin*"on to which attention should be drawn in this report in order to enable a proper understanding of the aco)unts to be reached. Muhamrnad U5man Ansari Independent Examiner Taxhelp Accountants Ltd 390-392 High Road 8alfour Business Centre Ilford IG1 1BF Dats.. 09 Jul 2024 TuxhelpAccountonts Limited Page 4 SPECTRA FOUNDATION Statement of Financial Activities (including income and expenditure account) Year Ending 31 July 2023 2023 2022 Unreslricted funds Total lunds Total funds Income Donation$ Grants Tuititsn f68s 12.841.50 12.841.50 5,138.36 Totsl Income 12,841.50 12841.50 5,138.36 Expenditures Charitable Activities Wages and salaries Temporary Staff and recruilment Staff training & Welfar& Travél and subsistence Rent & Rates Light and heat Cleaning Teleph(>ne, Fax and Internet BoDks,Educatitsnal and Stationery expenses Subscription Bank charges Insurance Equiprnent hire Repairs and maintenance Accouniancy fees Oiher legal and professional Depreciation.. Equipments, Fixtures and Fittings 7,430.00 7,430.00 521.00 130.00 1.125.00 130.00 1,125.00 1,258.00 187.00 1B7.00 426.00 426.00 299.00 509.00 509.00 435.00 700.00 435.00 700.00 350.00 Total Expenditure 110,942.00) {10,942.001 12.428.001 Net Income and net movement in funds 1.899.50 1.899.50 2,710.36 Reconcilliatlon of funds Total funds brought forward 2,710.36 2.710.36 Total funds carrled forward 4,609.86 4,609.86 2.710.36 The statèment of financial aclivites includes all g8lns and los$e8 recognised in the year. All incomè and expenditure derive from continuing activities. ToxhelpAccountonts Limited Page 5 SPECTRA FOUNDATION Statement of Financial Position Year Ending 31 July 2023 Notes 2023 2022 Fixed Assets Tangible Fixed Assets Current Assets Debtors Cash al Bank and in Hand 4.959.86 4.959.86 3.710.36 2.710.36 Crgdltors Amount falling withln one year Amount falling more than one year 1350.001 Net Assets 4.609.86 2,710.36 Funds of the charfty Unrestricted funds 4.609.86 2.710.36 Total charity funds 4.609.86 2.710.36 These financial statements (Page &61 were approved by the board of trustees and authorised for the issue on 09 Jul 2024 and are signed on behalf of the toard by.. Mr. Abubakr SlddiqLre Chairman Date= 09 Jul 2024 Toxhelp Accounttrnts Limited Paee 6 SPECTRA FOUNDATION Notes to the Financial Statements Year Ending 31 July 2023 1. General Inforniatlon The charity is a public benefit entity re9islered in England and Wales. The registèrèd address 01 the charily is Oak Road Oldham OL8 3UJ 2. Statement of compliancè These financial statements have been prepared in eompliance with FRS 102. Tre Financial Reporting Standard applicab16 In thè UK and the Republic of Ireland,. the Statement of Recommènded Practice applicable to charities preparing their accounts In accordancé with the Financial Reporting Standard applic8ble in Ihe UK and Republic of Ireland IFRS 1021 Icharilies SORP IFRS 10211 and the Compsnies Act 2006. 3. Accounting policies Basls of preparatlon The financial statements have been prepared on the historical cost basis. as modifie¢J by the rev81ualion of certain fin8n¢i818s8ets and liabilities and investment properties MeaSu￿d at fair v81ue through income or expenditure. The financial ststsments are prepared in sterfing. whSch Is thg functional currency of the entity. Goln9 conc•rn There are no material uncertainties about thè ehadty's abillly lo continue. Judgornents and key $ourc•s of ￿tImatIOn unc•rtainty The preparatlon of the financlal statements requires management to make judgements, estimate5 and assvmplions that affect the amounts repc*rted. These estlmatas and judgernents are continually reviewgd and are based on experièncè and olh8r factors. including expectations of future evonts that arg believed to be reasonable under the ciroumstances. There have been no judgements lapart from those involving 6Stimationsl that management has made in the process ol applying the entity's accounting policies and that have the most significant effect Dn the amounts re¢ognised in the financial statements. Fund aecountlng Unrestricted funds are availèble for Ljse at the discretion of the trustees to further any of the charity's purposes. Designated funds ar8 unrèslricted funds èarmarked by the trustees for particular lulure projèct or commitment. Restricted funds are subjected tts restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two su￿18$$es.. restricted income funds or endowment funds. To*hélpAttountunts limited Page 7 SPECTRA FOUNDATION Notes to the Flnancial Statements (continued) Year Ending 31 July 2023 3. Aceountlng po1i¢i?s Ico¥ntinued) Incomlng r¢$ourG05 All Sncoming ￿$OUTCe8 are included in Ihe $lalement of fin8ncial activities when entitlement ha$ passed to the charity., it 1$ probable Ihal the economic benefits associated with the transaction will flow to the ¢hartiy and the amount can be reliably rneasured. The fDllowing specific poliC￿S are applied lo particular cale9orie$ of incomè.. income from lulion fees, donations and grants are recognisÈd when the￿ is evidence of anti118ment to the gift. receipt 15 probable and ils armunl tAn be measured reliably. irKom8 frorn lulion fees, donations or grants are unr8stricted funds unless s￿¢IfIed fr(Yn source and hence treated accordingly. legacy in¢ome 1$ recognised when receipt is rmbable and enliyemenl is established. incotne from donated good$ 1$ ￿￿aSure￿ a¢ the fair value of the goods unless this 1$ impractical lo measure reliably, in which case the value is derived frorn the cost lo the dorK)r or the estimated resale value. Donated facilrties and strvices are recognised in the accounts wh8n r8ceivÈd if the value can be reliably measured. No amounts are int1￿￿ed for the contribution of gener81 volunteers. InGorne from coTrtracts for the supply of servi¢Ès is reGogni5ed with Ihe delivery of the conlra¢ted servKe. This is dassified as unreslricled funds unless there 1$ a ¢oniractual requirement for it to b8 spent On a particular purpos& and relumed if unsp&nt, in whi¢h Cage il may be regarded as restricled. Resources expended Expenditure is re¢ognised on an accruals bas*5 as a liability is incurr&¢S. Expenditure indudes any VAT which ¢annot be rully recovered, and is cla55ified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes c08ts of all fundrakslng a¢iivilies. évents. noncharitsble trading activities, the sale of donaled goods. ex￿ndI1Ure on charitable a¢liviiies in¢ludes all costs incurred by a charity in undertaklng activities that further its charitable aims for the benefit of its beneficiaries. including those support costs an¢J cost5 relating to tha gov8rnance of ¢hariiy apportioned to charitable 8Ctivities. other expenditure includes 811 expenditure that is neither related to r815ing funds for the charity nor part tsf ts expen¢jrtu￿ on Charitable aclivitie5. All cost5 are allccaled to expenditure categories refle¢tiry the use of the resource. Direct tosts allributable to a Single activity are allocated Oirectly to that a¢livlly. Shared costs are apportion8d between the a¢liv5tles they contribute to on 8 reasonable, justrfiable 8nd consi$tenl ba$is. Tanglble assets Fixed assets (excluding inve51mentsl are stal&d at cost less accumulated ¢Jepreciation. Tha costs of minor addibons or those costing below £2.000 8re not capitalised. Ttsxhelp Accovntunt5 Limited Pège 8 SPECTRA FOUNDATION Notes to the Financial Statements {continued) Year Ending 31 July 2023 3. Accountlng policies Icontinuedl Financlal Instrum&t)ts A financial asset or a financial liability is recognised only when the charity be¢omes a party to the contractual provisions ol the instrumènt. Bas￿ financial instruments are inib'ally recognised at ¢he amount receivable or payable including any related transaction costs. CuThent assets and current liabilitiès ara subsÈquenfjy measured at the cash or other consideration èxpected lo be paid ()r received and not discounted. Debt in5trurnents are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair v8lue can otherwise be measured reliably, the investTnent is subsequ8nlly measured at fair value with changes in fair value recognised in incorne and expenditure. All other such investments are subs8quently measured at cost less irnpairment. Other financial instruments, including derivativès, arè In￿allY 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 8 market rate. in which case the asset is measured at the presenl value Of the future payments discounted at a market rale ol interest for similar debt instrument. Other financial instruments are subsequently measured at fair value, with any Changes recognised in the stalement ol financial activits"es, with the exception of hedging instruments in a designated hedgin9 relationship. Financlal assets that are mèosured al ¢o$t or arnortised cosl are reviewed for objective evidence of impairment al the end of each reporting dale. 11 there is oblectlve evidence of impairment. an impaimient loss is recognised under the appropriate htrading in the statement of financial activities in which the inltlal galn wa$ recogni3ed. Financial instruments l¢ontlnuÈdl For all equity instruments regardless ol significance, and oth8r financial assets th8t are individually significant. these are assessed individually for impairment. Other financial assets are either assessed Individually or grouped on the basis of sirnilar credit risk characteristics. Any reversals of irnpaimient are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset th8t exceeds what the carying amount would have been had the impaiment not previously been recognised. Ttrxhélp Accountants lirnited Page 8 SPECTRA FOUNDATION Notes to the Financial Statements (continued) Year Ending 31 July 2023 4. Statement of funds 2023 2022 Unr•stri¢tèd funds Al the start of the period Income during Ihe perfod expenditure during the period 2.710.36 12,841.50 110,942.001 5,138.36 12.428.001 Total Unrestrieted funds at the end ol th8 period 4,609.86 2 710.36 Restrlcted funds At the start of the period Income dLJring the period expenditu￿ during the period Total Restricted funds al the end of tho period ToxhelpAcrountont5 limited Page 9