OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-03-31-accounts

IAISH FOUNDATION ANNUAL REPORT FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Contents

Trustees’ Report

Financial Statements 2023-2024

2 | P a g e

Message from CEO

As we reflect on the past year, I am filled with profound gratitude and a renewed sense of purpose. The journey of Arsh Foundation stands as a powerful testament to the impact of collective compassion and unyielding dedication.

In our mission to create a world free from the grips of poverty, hunger, and despair, we have crossed many significant milestones. Guided by our vision that every individual deserves a life of dignity and opportunity we have continued to expand our multifaceted initiatives. Whether through the provision of essential food supplies, financial support for education, assistance to families in crisis, or critical medical aid, Arsh Foundation remains steadfast in its commitment to easing the burdens on vulnerable communities.

Our core values; collaboration, empowerment, leadership, faith, accountability, respect, and excellence remain at the heart of all we do. Arsh Foundation is not just an organisation; it is a movement for positive transformation, driven by a shared determination to bring hope and opportunity to those who need it most.

To our generous donors, I offer my deepest thanks. Your unwavering trust in our mission is the foundation of everything we achieve. Your continued support inspires and energizes us, enabling us to touch thousands of lives, offering hope and laying the groundwork for a brighter future.

Despite the challenges we face and the limits of our resources, Arsh Foundation remains resolute in its pursuit of uplifting humanity, building unity, and breaking the cycle of poverty. Today, we continue to serve as a beacon of hope, bringing essential resources like food, clean water, education, and healthcare to those in greatest need.

As we look to the future, our commitment to extending our reach and diversifying our projects remains steadfast. We aim not only to provide assistance but to engage and empower local communities, giving them the tools and knowledge to shape their own destinies.

The responsibility we carry is immense, yet so too is the potential for positive impact. Together, with the support of our donors, volunteers, and partners, we are poised to make an even greater difference in the year ahead, addressing the ongoing challenges faced by vulnerable populations worldwide.

I would like to extend my heartfelt gratitude to the dedicated team of volunteers and staff who work tirelessly to bring our vision to life. Your passion and commitment are invaluable as we chart the next chapter of our journey.

Thank you for being an integral part of the Arsh Foundation family. Together, we are proving that when we unite for a common cause, meaningful and lasting change is possible.

Arsalan Shakeel CEO, Arsh Foundation

3 | P a g e

Our Projects

1. Water Project

In our steadfast commitment to improving the lives of communities grappling with water scarcity, Arsh Foundation has undertaken a crucial initiative in District Thatta, one of the most underserved regions in the country. For years, the health indicators in this district have painted a stark picture of the consequences of inadequate access to clean and safe water.

Goth Gulmanda and Makli, located in Thatta District, were identified as focal points for our water project due to the acute challenges faced by their residents. Scattered across mud-house clusters, these communities endure the daily struggle of water scarcity, often traveling long distances to access this essential resource. This lack of proximity to clean water not only limits access to safe drinking water but also exacerbates unsanitary conditions, severely affecting public health and hygiene.

During the year ending March 2024, Arsh Foundation made significant progress by installing 9 handpumps in these high-need areas. Each handpump now serves a community of 80 to 100 individuals, providing convenient access to drinking water and contributing to better sanitation. This milestone increased the total number of handpumps and water wells established in the district to 76, representing a vital step forward in addressing the region’s water-related challenges.

We remain deeply grateful to our dedicated supporters, donors, and trustees whose unwavering contributions make these projects a reality. Together, we are creating waves of change, transforming lives, one drop at a time.

4 | P a g e

2. Feed the Family

Arsh Foundation's ‘Feed the Family’ initiative, launched in April 2017, continues to stand as a lifeline for families in need. Over the years, the project has expanded significantly, and as of March 2024, we are proud to provide monthly food rations to an average of 18 to 21 families across various areas of Karachi. Each household comprises approximately 5 to 6 members, meaning that between 1,296 and 1,512 individuals benefit from this essential support annually. This remarkable achievement reflects our unwavering dedication to combating hunger and uplifting vulnerable communities.

Our team works diligently to ensure the integrity and effectiveness of this initiative. Rigorous assessments are conducted to identify the most deserving recipients, including widows and low-income households, guaranteeing that aid reaches those who need it most. Through this meticulous approach, the ‘Feed the Family’ programme has become a trusted source of sustenance and hope for countless families.

As we look to the future, Arsh Foundation remains committed to expanding the reach and impact of this vital project. With the ongoing support of our donors, volunteers, and team members, we aspire to ensure that no family is left behind in the fight against hunger.

We extend our deepest gratitude to everyone who has contributed to this initiative. Your generosity and belief in our mission empower us to make a profound and lasting difference, ensuring that countless families can face each day with renewed hope and dignity.

5 | P a g e

3. Ramadan Project

Arsh Foundation remains steadfast in its mission to extend meaningful support to those in need, especially during significant religious periods. Our annual Ramadan Project , a cornerstone of our humanitarian initiatives since its inception, is dedicated to alleviating the challenges faced by individuals with limited resources, enabling them to observe their religious obligations with dignity.

In 2023, Ramadan was observed from the evening of 22nd March to 21st April. During this sacred month, Arsh Foundation implemented a comprehensive plan to distribute food packages across various areas of Karachi. These efforts were targeted at individuals living below the poverty line, ensuring they had sufficient sustenance throughout the month-long fast.

The food packs, thoughtfully curated to address the specific needs of fasting families, included essential items such as a 10kg bag of flour. These provisions not only alleviated the stress of securing daily meals but also allowed recipients to focus fully on their spiritual practices during this holy period.

The impact of the Ramadan Project extended beyond basic sustenance. In addition to food distributions, we provided Iftar packs, cooked meals, and Eid gifts, including clothing, to over 200 families in Karachi and Khyber Pakhtunkhwa (KPK). These initiatives fostered a sense of community, joy, and hope during the festive season, reflecting the spirit of Ramadan and Eid-ulFitr.

6 | P a g e

4. Medical Projects

Arsh Foundation remains committed to addressing critical healthcare needs through its Medical Aid Programme, ensuring that vulnerable individuals receive the support they require to access life-saving treatments. Over the years, our focus has been on alleviating the financial burden of medical care for those in need, and 2023 was no exception.

This year, through our implementation partner, we provided financial assistance for a range of medical treatments. These included covering the cost of neuro treatment for a baby, surgery to remove a pancreatic stone for Asma, and a knee operation for Razia. We also supported the treatment of a woman with both legs fractured, as well as delivery expenses for Rizwan’s wife. Additionally, payments were made for treating bruises, purchasing essential medicines, and aiding other individuals with their medical needs.

These contributions reflect Arsh Foundation’s unwavering commitment to supporting individuals during critical health crises. We remain grateful to our donors and supporters, whose generosity makes it possible for us to bring comfort and healing to those in need.

5. Funeral services

In times of grief and loss, offering support to grieving families is more important than ever. Arsh Foundation continues its commitment through the Funeral Support Project , ensuring that underprivileged families can navigate the challenges of saying goodbye to their loved ones with dignity and care.

We provide comprehensive assistance, covering funeral and burial arrangements, including expenses for shrouds, burial costs, and transportation to and from cemeteries. Our compassionate outreach extends to both the UK and Pakistan, helping families across borders to find comfort and support during these difficult times.

This year, we supported 3 families, easing their financial burden during moments of loss. Arsh Foundation remains dedicated to offering solace and support, thanks to the generous contributions of our donors and supporters.

7 | P a g e

6. Masjid Project

Arsh Foundation has always prioritised the construction and improvement of religious centres to provide communities with a space for worship, education, and social engagement. In previous years, we focused on surveying disadvantaged regions in Sindh to assess the availability of masaajid and address the spiritual and social needs of these areas.

This year, we extended our efforts to support two key initiatives. In February 2024, we raised funds for the construction of a local mosque in Ruislip, enabling the commencement of building works for this important community project. Additionally, we donated funds to a mosque in Pakistan to refurbish its Wudu area and toilets, enhancing facilities for worshippers and ensuring a more dignified and comfortable environment.

These initiatives exemplify our commitment to fostering spiritual growth and community development, both locally and internationally. We are deeply grateful to our donors, whose generosity continues to empower us to support such impactful projects.

7. Qurbani Project

The Qurbani Project continues to be one of Arsh Foundation’s flagship initiatives, reflecting our dedication to supporting the underprivileged during the sacred festival of Eid-ul-Adha. Now in its fifth year, the project has grown in scale and impact, ensuring that the joy and blessings of this occasion reach those who lack access to essential resources throughout the year.

In 2023, we conducted the sacrifice of two cows—one in Karachi and one in Khyber Pakhtunkhwa (KPK). The meat was meticulously distributed among deprived individuals and families in these regions, many of whom rarely have access to such nourishment. Our team ensured that the animals chosen for sacrifice met all requirements of Islamic injunctions and that the process was carried out with the utmost care and respect for tradition.

By identifying areas with the most pressing need, we focused on ensuring the meat reached the most vulnerable populations. This project serves not only as a means of fulfilling a religious obligation but also as a bridge that connects communities, fostering solidarity and compassion during this significant time.

We extend our heartfelt gratitude to our donors and partners whose generous contributions continue to make this initiative a success, spreading joy and sustenance to those who need it most.

8 | P a g e

8. Education

Arsh Foundation remains dedicated to fostering a safe and secure learning environment for children and young adults, empowering them to achieve their educational goals. In previous years, we have provided essential support such as school furniture and resources to create a conducive learning atmosphere.

In 2023, we have expanded our commitment by sponsoring the education of 3 young women enrolled in universities, covering their semester or monthly tuition fees. Additionally, we are supporting the school education of 6 to 8 children by paying their tuition fees and providing other necessary assistance.

We continue to receive increasing requests from families seeking support for both primary and higher education. Arsh Foundation is actively working to accommodate as many students as possible through the generous contributions of our donors, ensuring that financial barriers do not hinder their academic aspirations.

9 | P a g e

9. Marriage support project

At Arsh Foundation, we are committed to fostering not just weddings but the long-term success of marriages. Recognising that the foundation of a strong marriage lies in commitment, effort, and mutual support, we have continued to implement our Marriage Support Project . This initiative, funded through Sadaqah , Zakat , and general contributions, aims to ease the financial burden on families during wedding preparations.

In 2023, we provided assistance to 11 families, helping them meet essential wedding-related expenses. This support included contributions towards furniture and hosting wedding feasts. Each of these provisions, which can cost up to £600, played a pivotal role in reducing the financial strain on the bride's family.

By alleviating these material stresses, Arsh Foundation seeks to give newlyweds a strong start, fostering stability and happiness in their marital journey. Beyond the financial aid, the project underscores our commitment to creating a supportive environment for families embarking on this significant life milestone.

We extend our heartfelt thanks to our donors and supporters, whose generosity has enabled us to contribute to the joy and stability of countless families. Together, we are making a meaningful and lasting impact on the lives of those we serve.

.

10 | P a g e

Corporate Directory

Registered Company number

10693201 (England and Wales)

A Company Limited by Guarantee

Registered Charity number

1193627 (England and Wales)

Registered office

2 Kentford Way, Northolt, UB5 5NG

Board of Trustees

The trustees who served the charity during the period were as follows:

Company Secretary

Banker

Barclays Bank UK PLC Business Direct Leicester LE87 2BB

Independent Examiner

Silver Arc Limited 1 Quality Court Chancery Lane London WC2A 1HR

11 | P a g e

Financial statements 2024

Structure, Governance and Management

Arsh Foundation has its operational base in London, UK. While the fundraising activities are carried out in the UK, the foundation works through implementing partner, Health and Education Welfare Organization (HEWO), which has its operational base in Karachi. With a local team working on the implementation of the projects, there is an assurance that the sensitivities of the local population and the cultural norms and values would be taken care of by the foundation.

Board of Trustees

The Board of Trustees directs and oversees the organisation. Focusing on strategic planning and governance, the Board sets out priorities and objectives. It evaluates our performance and the progress of our work to alleviate poverty and suffering and approves relevant new policies and procedures. The Board appraises the Management Team and can make appointments and dismissals from these positions. The Board of Trustees works with key stakeholders and ensures that we satisfy the regulatory requirements we are bound by as a charity.

Recruiting and appointing trustees

Each member of our Board of Trustees is a volunteer, chosen because they have the range of skills, knowledge and experience that we need to respond to critical challenges. Partners and stakeholders may nominate trustees, and sometimes we approach potential candidates personally.

Key personnel

The CEO is accountable to the Board of Trustees and, along with other senior staff, is responsible for our day-to-day management. The CEO chairs the Management Team, which comprises other directors. They make sure that the policies and strategies agreed upon by the Board of Trustees are implemented and support the work of other staff and volunteers. A complete list of trustees is provided in the corporate directory on page 11.

Governing document

Arsh Foundation refers to the charity incorporated as a company limited by guarantee in England and Wales. Arsh Foundation’s governing document, known as Memorandum and Articles, was initially dated 3rd February 2017 and was later revised on 23rd February 2021.

Risk of Governance

Arsh Foundation needs to ensure that proper governance structures and practices are adopted to reduce the risk of failure and support the organisation's survival and success. The board will regularly review the policies and procedures to ensure they are up-to-date and meet the governance and operating standards.

Statement of Trustees’ Responsibilities

The trustees – also directors of Arsh Foundation – are responsible for preparing the Annual Report. The annual report includes trustees' reports & financial statements, preparing the following applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires our trustees to prepare financial statements for each financial year. They must not approve the financial statements unless they are satisfied that they give a true and fair view of the charitable company's state of affairs and the incoming resources and application of resources – including income and expenditure – of the charitable company for that period.

The trustees are responsible for keeping proper accounting records which reasonably accurately disclose the financial position of the charity at any time and ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the charity's assets and hence for taking reasonable steps to prevent and detect fraud and other irregularities.

13 | P a g e

Volunteers

Our volunteers provide crucial support for our work, and we continue to be assisted by a committed and passionate network of volunteers whom we actively manage. During 2024, our network of dedicated volunteers contributed significant hours supporting our administration, fundraising and campaigning activities.

Fundraising structure

Arsh Foundation raises funds through various channels, including social marketing and word of mouth, which help us establish and grow and strengthen links with new donors around the UK. Management monitors the fundraising teams regularly, and reports are issued to the Board periodically.

Fundraising

Our fundraising utilises a number of different approaches, which include the following:

In 2022-2023, all activities were carried out by our own staff and we did not use professional fundraising agencies or other third parties.

Funding Continuation

Arsh Foundation does not have a fixed amount of income. In the continuation of work, it will be considerably dependent on the donations made by the public or other charity organisations. Projects are only initiated when the complete funds are available to cover all costs, but as an exceptional case, Arsh Foundation has also set aside a portion of reserves to reduce any disruption due to a temporary fall in donations.

Vision & Mission

Vision:

To facilitate underprivileged people by providing them with the necessities of life and, through education, skills, and financial support, enable them to build up their resources and become productive citizens.

Mission:

Principal Risks and Uncertainties

Arsh Foundation is committed to providing humanitarian aid and relief to those in need. We are therefore required to operate in countries affected by humanitarian and environmental disasters and general uncertainty. Working in such environments gives rise to significant risks and uncertainties, which we have managed through our considerable experience in this field, supported by a robust framework of systems, processes and oversight.

Senior management regularly undertakes strategic and operational reviews to identify organisational risks and develop mitigation plans. It is then responsible for implementing those action plans.

The principal risks and uncertainties being faced by Arsh Foundation and the mitigating actions taken to meet them are:

Safeguarding

Arsh Foundation puts great stock on its values and core aims which are to help and support children, young people and those at risk of all ages and abilities in a way that empowers them. An important part of this is to identify and address any improper behaviour or abuse of trust by anyone representing or

connected with the organisation. The Chair of Trustees has taken on responsibility for overseeing our safeguarding practices. He has asked our Head of Governance to lead on safeguarding at the executive level; he in turn has appointed a Safeguarding Lead at operations level and engaged technical specialists. This has enabled us to maintain a focus on our safeguarding practices and ensure their continued development.

14 | P a g e

Cybercrime

The threat of cybercrime continues to represent a major risk that we are determined to address. We have made significant progress on data protection with a dedicated multidisciplinary working group committed to EU General Data Protection Regulation (GDPR) compliance.

Achievement and Performance

Review of financial performance

Our overall objectives in relation to fundraising was to maximise the amount of voluntary income raised and to ensure that we did so at a reasonable cost. Our income for the seventh year of operation was £40,980 and the direct charitable expenditure during the year was £31,680.

Review of development activities

In the 6th year of operation, the Trustees are satisfied with the continued progress and development of the Charity. The Charity was established in March 2017 to help alleviate poverty, and the Trustees are satisfied that the focus of the work meets this criterion. In future, Arsh Foundation plans to focus on organisational development aimed at increasing donations in our long-term development projects focused on a few remote areas of Pakistan and further improve our capacity to provide relief when disasters strike.

Public Benefit

We develop strategic plans to ensure that we deliver maximum public benefit and achieve our strategic objectives. The management confirms that they have referred to the guidance on public benefit contained in documents produced by the Charity Commission when reviewing the aims and objectives of the charity and planning future activities.

Financial Review

Thanks to the generosity of our donors, as this is the sixth year of Arsh Foundation’s existence, income and charitable expenditure continue to grow. These achievements are all the more remarkable when set against the backdrop of the weakest economy the UK has seen in five years and an uncertain global economic and geopolitical climate.

In our fifth year of operations, we raised funds and delivered 10 projects which we find essential to grow and fulfil the desire need of people in need. As per our objectives to provide food and water to our deprived people we also excel in the field of education, health, community, and other welfare projects. We aim to continue improving and grow and fulfil our objectives.

Income From Charitable Activities 2023-2024

----- Start of picture text -----
General Donations,
Medical Projects, 93
2,040 Funeral support, 100
Marriage support,
Feeding, 7,145
3,173
Water, 1,700
Education, 3,780
Ramadan, 4,668
Masjid, 6,808
Relief & Welfare, 1,040
Qurbani, 572
----- End of picture text -----

15 | P a g e

Expenditure from Charitable activities 2023-2024

EXPENDITURE FROM CHARITABLE ACTIVITIES

----- Start of picture text -----
Admin , 1019
Feeding, 4,848
Sadaqah, 4,565
Funeral support, 82 Water, 697
Medical Projects, 791
Marriage support, 3,457
Ramadan, 4,957
Relief & Welfare, 735
Education, 4,400
Qurbani
£552
Masjid, 5,072
----- End of picture text -----

Details of all charitable income and expenditure are mentioned in accounts. The difference in amount received and not spent is carried forward to the next period and any deficiency in funds for specific projects were taken out from General Donations fund.

Reserves policy

The beneficiaries of the Arsh Foundation are communities from different backgrounds and cultures; the only thing common among them is "poverty and insufficient resources" most of them receive assistance and support from us on regular bases as their economic conditions do not allow them to fulfil the requirements on their own. Arsh Foundation's ongoing projects are a big hope for thousands of people, and any delay or obstacle in delivering the projects can affect their lives.

Therefore, trustees recognise the need to have reserves in place to ensure the continuation of our work in the event of an unforeseen downturn. This is particularly true for a newly incorporated and young charity like the Arsh Foundation, which is going through a period of growth where reliable income streams are being established. Trustees are also conscious of balancing the necessity for reserves with our efforts to provide value for money and maximise the resources available for our programmes. As Arsh Foundation is a new charity managed by Trustees and Volunteers, we only have a tiny expense for the upcoming years. We aim to spend 100% of the generated funds towards the cause against which we have raised funds.

This policy will be reviewed at the Annual Trust meeting each year. The Chairman will present the Trustee Board with a draft document and supporting materials that enable them to make an informed decision about levels of Reserves and feeds into their approval of the strategy document and annual operating budget.

IT & Data Storage

All financial records are digitally recorded and managed by Arsh Foundation. To ensure data security, proper data backups are maintained at different locations. The possibility of storing essential data on a cloud-based backup mechanism is also being assessed.

16 | P a g e

Going concern

In view of the financial performance and the reserves position as at the balance sheet date, the Board of Trustees has a reasonable expectation that Arsh Foundation will have the resources to continue in operational existence for the foreseeable future. The trustees believe there are no material uncertainties that call into doubt our ability to continue as a going concern. The annual financial statements have therefore been prepared on the basis that the charity is a going concern.

This Trustees' Annual Report, prepared under the Companies Act 2006, was approved by the Board of Trustees on 16[th] December 2024 including approving in their capacity as Directors, the Trustees' Report and Director’s Report contained therein, and is signed as authorised on its behalf by:

............................................. Mr Arsalan Shakeel Company Secretary/ Trustee/ CEO 16[th] December 2024

17 | P a g e

Independent Examiner's Report to the Trustees of Arsh Foundation

Independent examiner's report to the trustees of Arsh Foundation ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns 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.

Silver Arc Limited Association of Chartered Certified Accountants and Registered Auditors Silver Arc Limited

1 Quality Court Chancery Lane London WC2A 1HR

Date: 16[th] December 2024.

The notes form part of these financial statements

18 | P a g e

Arsh Foundation Statement of Financial Activities For the Year Ended 31[st] March 2024

31/3/24 31/3/23
Unrestricted Restricted Total Total
funds fund funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 3,276 - 3,276 4,280
Charitable activities
General Donations 93 - 93 85
Feeding - 7,145 7,145 14,391
Water - 1,700 1,700 4,381
Ramadan - 4,668 4,668 6,993
Relief & Welfare - 1,040 1,040 4,298
Qurbani - 572 572 730
Masjid - 6,808 6,808 105
Education - 3,780 3,780 3,780
Marriage support - 3,173 3,173 4,950
Medical Projects - 2,040 2,040 3,750
Funeral support - 100 100 250
Sadaqah - 5,135 5,135 1,353
Zakat - 1,450 1,450 70
Total 3,369 37,611 40,980 49,416
EXPENDITURE ON
Charitable activities
Feeding - 4,848 4,848 14,482
Water - 697 697 4,857
Ramadan - 4,957 4,957 7,238
Relief & Welfare - 735 735 4,603
Qurbani - 1,057 1,057 714
Masjid - 5,072 5,072 93
Education - 4,400 4,400 2,367
Marriage support - 3,457 3,457 4,575
Medical Projects - 791 791 3,549
Funeral support - 82 82 230
Sadaqah - 4,565 4,565 1,130
Other 1,019 - 1,019 533
Total 1,019 **30,661 ** 31,680 44,371
NET INCOME 2,350 6,950 9,300 5,045
RECONCILIATION OF FUNDS
Total funds brought forward 10,247 7,240 17,487 12,442
TOTAL FUNDS CARRIED FORWARD **12,597 ** 14,190 **26,787 ** 17,487

The notes form part of these financial statements

19 | P a g e

Arsh Foundation Balance Sheet At 31[st] March 2024

31/3/24 31/3/23
Unrestricted Restricted Total Total
funds fund funds funds
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 3,276 - 3,276 4,279
Cash at bank and in hand 9,321 14,190 23,511 13,208
12,597 14,190 26,787 17,487
NET CURRENT ASSETS **12,597 ** 14,190 **26,787 ** 17,487
TOTAL ASSETS LESS CURRENT
LIABILITIES 12,597 14,190 26,787 17,487
NET ASSETS **12,597 ** 14,190 **26,787 ** 17,487
FUNDS 5
Unrestricted funds 12,597 10,247
Restricted funds 14,190 7,240
TOTAL FUNDS **26,787 ** 17,487

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 16[th] December 2024 and were signed on its behalf by

Mr Arsalan Shakeel - Trustee

Mr Muhammad Rehan - Trustee

The notes form part of these financial statements

20 | P a g e

Arsh Foundation Notes to the Financial Statements For the Year Ended 31[st] March 2024

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

INCOME

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

EXPENDITURE

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

TAXATION

The charity is exempt from corporation tax on its charitable activities.

FUND ACCOUNTING

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

TRUSTEES' EXPENSES

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

21 | P a g e

Arsh Foundation Notes to the Financial Statements - continued For the Year Ended 31[st] March 2024

3.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
funds
fund
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
4,280
-
Charitable activities
General Donations
85
-
Feeding
-
14,391
Water
-
4,381
Ramadan
-
6,993
Relief & Welfare
-
4,298
Qurbani
-
730
Masjid
-
105
Education
-
3,780
Marriage support
-
4,950
Medical Projects
-
3,750
Funeral support
-
250
Sadaqah
-
1,353
Zakat
-
70
Total
4,365
45,051
EXPENDITURE ON
Charitable activities
Feeding
-
14,482
Water
-
4,857
Ramadan
-
7,238
Relief & Welfare
-
4,603
Qurbani
-
714
Masjid
-
93
Education
-
2,367
Marriage support
-
4,575
Medical Projects
-
3,549
Funeral support
-
230
Sadaqah
-
1,130
Other
533
-
Total
533
43,838
NET INCOME
3,832
1,213
RECONCILIATION OF FUNDS
Total funds brought forward
6,415
6,027
TOTAL FUNDS CARRIED FORWARD
10,247
7,240		 Total
funds
£
4,280
85
14,391
4,381
6,993
4,298
730
105
3,780
4,950
3,750
250
1,353
70
49,416
14,482
4,857
7,238
4,603
714
93
2,367
4,575
3,549
230
1,130
533
44,371
5,045
12,442
17,487

22 | P a g e

Arsh Foundation Notes to the Financial Statements - continued For the Year Ended 31[st] March 2024

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£ £
Other debtors 3,276 4,279
5. MOVEMENT IN FUNDS
Net
movement At
At 1/4/23 in funds 31/3/24
£ £ £
Unrestricted funds
Unrestricted Funds 10,247 2,350 12,597
Restricted funds
Restricted Funds 7,240 6,950 14,190
TOTAL FUNDS **17,487 ** 9,300 **26,787 **
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
Unrestricted Funds 3,369 (1,019) 2,350
Restricted funds
Restricted Funds 37,611 (30,661) 6,950
TOTAL FUNDS 40,980 **(31,680) ** 9,300
Comparatives for movement in funds
Net
movement At
At 1/4/22 in funds 31/3/23
£ £ £
Unrestricted funds
Unrestricted Funds 6,415 3,832 10,247
Restricted funds
Restricted Funds 6,027 1,213 7,240
TOTAL FUNDS 12,442 5,045 17,487

23 | P a g e

Arsh Foundation Notes to the Financial Statements - continued For the Year Ended 31[st] March 2024

5. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
Unrestricted Funds 4,365 (533) 3,832
Restricted funds
Restricted Funds 45,051 (43,838) 1,213
TOTAL FUNDS 49,416 (44,371) 5,045

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1/4/22 in funds 31/3/24
£ £ £
Unrestricted funds
Unrestricted Funds 6,415 6,182 12,597
Restricted funds
Restricted Funds 6,027 8,163 14,190
TOTAL FUNDS 12,442 14,345 26,787

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
Unrestricted Funds 7,734 (1,552) 6,182
Restricted funds
Restricted Funds 82,662 (74,499) 8,163
TOTAL FUNDS 90,396 (76,051) 14,345

6. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

24 | P a g e

Arsh Foundation Detailed Statement of Financial Activities For the Year Ended 31st March 2024

31/3/24
INCOME AND ENDOWMENTS
Donations and legacies
Gift aid
Charitable activities
Donations
Total incoming resources
EXPENDITURE
Charitable activities
Grants to institutions
Support costs
Management
Telephone
Postage and stationery
Advertising
Finance
Bank charges
Information technology
Subscription
Human resources
Software licences
Total resources expended
Net income		 31/3/23
£
£
3,276
4,280
37,704
45,136
40,980
49,416
30,050
43,755
13
-
388
-
399
71
800
71
233
84
35
70
562
391
31,680
44,371
9,300
5,045

25 | P a g e

+44 (0) 203 4323 786 info@arshfoundation.org www.orshfoundation.org 2 Kentford Woy. U85 5NG IAISH FOUNDATION