Docusign Envelope ID: 552460A2-829F-4BB8-90E8-B0E09EB76B5D ## **ALTAF AND SHEELA GATRAD CHARITY FOUNDATION** **Charity Number 1193864** **Trustees' Report and Financial Statements For the year ended 30 April 2024** Docusign Envelope ID: 552460A2-829F-4BB8-90E8-B0E09EB76B5D ## **ALTAF AND SHEELA GATRAD CHARITY FOUNDATION** |**Contents**|| |---|---| ||**Page**| |Report of the Trustees|1 & 2| |Independent Examiner's Report|3| |Statement of Financial Activities|4| |Balance Sheet|5| |Notes forming part of the financial statements|6| Docusign Envelope ID: 552460A2-829F-4BB8-90E8-B0E09EB76B5D Page 1 ## **ALTAF AND SHEELA GATRAD CHARITY** ## **Trustees' Report For the year ended 30 April 2024** The trustees present their report along with the financial statements of the charity for the year ended 30 April 2024. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document and Accounting and Reporting by Charities: Statement of Recommended Practice for Charities preparing their accounts in accordance with Financial Reporting Standard 102 applicable in the UK and the Republic of Ireland published on 16 July 2014. ## **Reference and Administrative Details of the Charity, its Trustees and Advisors** **Charity Number** 1193864 **Charity Offices** 518 Wellingborough Road Northampton NN3 3HX **Trustees** Altaf M Gatrad Sheela A Gatrad Sophia G Khimji Martin Sharman Kunal H Thakrar **Bankers** Metro Bank One Southampton Row London WC1B 5HA ## **Independent examiner** Mr Subhash Ganatra FCCA of **Marble Hill Chartered Certified Accountants** 193 Richmond Road St Margarets Twickenham TW1 2NJ ## **Structure, Governance and Management** The trustees named on page 1 have served throughout the period. Appointment of trustees is governed by the Constitution of the charity. There must be at least two trustees. The current trustees listed above are as notified to the Charity Commission. The trustees must hold at least one ordinary meeting a year. Decisions are made by voting by the trustees who each have one vote and a simple majority is required to arrive at a decision. The chairman of the meeting has a casting vote in the event of a deadlock. The chairman is elected at the start of each meeting. Docusign Envelope ID: 552460A2-829F-4BB8-90E8-B0E09EB76B5D Page 2 ## **ALTAF AND SHEELA GATRAD CHARITY FOUNDATION** ## **Trustees' Report** **For the year ended 30 April 2024 (continued)** ## **Public Benefit: Objectives and Activities** The Charity is established by its constitution. The objects are as follows: To advance such charitable purposes (according to the law of England and Wales) as the trustees see fit from time to time in particular but not exclusively by the provision of grants. All grants to be formally approved by a minimum of two trustees. Such approval may be by physical meeting or by such other means as the trustees agree such as email, telephone or exchange of papers. ## **Public Benefit: Achievements and Performance** The trustees consider that the performance of the charity this period has been most satisfactory. See note 3 for a list of charitable donations made during the period. The trustees consider that this is a defined public benefit under section 17 of the Charities Act 2011. ## **Financial review** The Statement of Financial Activities shows a net surplus for the year of £2,456 (2023 - £934). The unrestricted reserves at the end of the accounting period stand at £6,090 (2023 - £3,634). Voluntary income of £92,500 (2023 - £65,000) received includes £46,750 (2023 - £30,000) from Sheelaltaf Perpetual Investments Ltd and £27,250 (2023 - £22,000) from Gatrad Perpetual Investments Limited. ## **Investment policy** The charity invests its surplus funds with Metro. The charity's trustees are prudent and risk averse and consider that Metro Bank plc are trustworthy custodians of the charity's assets. ## **Reserves policy** It is the policy of the charity to maintain unrestricted funds at a level which allows the trustees to pursue the aims of the charitable trust. The charitable trust has no paid employees and its only costs apart from donations are professional fees in respect of the governance of the charity. ## **Statement of trustees' responsibilities** Law applicable to charities in England and Wales require the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to: - (a) select suitable accounting policies and apply them consistently; - (b) make judgements and estimates that are reasonable and prudent; (c) state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; (d) prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation. 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 the Charities Act 2011. 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. ## **Approval** This report was approved by the trustees on 25 September 2024 and signed on their behalf. Altaf M Gatrad Trustee Sheela A Gatrad Trustee Docusign Envelope ID: 552460A2-829F-4BB8-90E8-B0E09EB76B5D Page 3 ## **ALTAF AND SHEELA GATRAD CHARITY FOUNDATION** ## **Independent Examiner's Report to the Trustees of Altaf and Sheetal Gatrad Charity Foundation For the year ended 30 April 2024** I report to the trustees on my examination of the financial statements of Altaf and Sheela Gatrad Charity Foundation which comprise the Statement of Financial Activities, the Balance Sheet and related notes. This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the opinions I have formed. ## **Respective responsibilities of trustees and examiner** The charity's trustees are responsible for the preparation of financial statements in accordance with the requirements of the Charities Act 2011 ('the Act') I report in respect of my examination of the charity's financial statements carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present 'a true and fair' view and my report is limited to those specific matters set out in the independent examiner's statement. ## **Independent Examiner's Statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: * accounting records were not kept by the charity in accordance with section 130 of the 2011 Act; or * the financial statements do not agree with those records; or * the financial statements do not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities ( Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a " true and fair " view which is not a matter considered as part of the independent examination. 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 financial statements to be reached. Subhash Ganatra FCCA of **Marble Hill Chartered Certified Accountants** 193 Richmond Road St Margarets Twickenham TW1 2NJ 25 September 2024 Docusign Envelope ID: 552460A2-829F-4BB8-90E8-B0E09EB76B5D Page 4 ## **ALTAF AND SHEELA GATRAD CHARITY FOUNDATION** |**STATEMENT OF FINANCIAL ACTIVITIES**
**For the year ended 30 April 2024**
**Notes**
**Incoming resources**
**_Incoming resources from generated funds:_**
Voluntary income
2
Investment income
3
Tax refunds (gift aid)
**Total incoming resources**
**Resources expended**
Charitable activities
4
Governance costs
**Total resources expended**
**Net incoming/(outgoing) resources**
**Unrestricted funds brought forward**
**Unrestricted funds carried forward**|**Unrestricted**
**Funds**
**2024**
**£**
92500
0
0
92500
90044
0
90044
2456
3634
6090|**Unrestricted**
**Funds**
**2023**
**£**
65000
0
0
65000
64066
0
64066
934
2700
3634| |---|---|---| The notes on page 6 form part of these accounts. Docusign Envelope ID: 552460A2-829F-4BB8-90E8-B0E09EB76B5D |**ALTAF AND SHEELA GATRAD CHARITY FOUNDATION**
**Balance Sheet at 30 April 2024 - DRAFT**
**2024**
**£**
**Current assets**
Cash at bank and in hand
6090
**Net assets**
6090
**Funds**
Unrestricted funds
6090
6090
Altaf M Gatrad
Trustee
Trustee
Sheela A Gatrad
Approved by the board of trustees on 25 September 2024 and signed on their behalf.|Page 5
**2023**
**£**
3634
3634
3634
3634
| |---|---| The notes on page 6 form part of these accounts. Docusign Envelope ID: 552460A2-829F-4BB8-90E8-B0E09EB76B5D Page 6 ## **ALTAF AND SHEELA GATRAD CHARITY FOUNDATION** ## **Notes to the Accounts For the year ended 30 April 2024** ## **1. Accounting Policies** ## **1.1 Basis of preparation of accounts** The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document and Accounting and Reporting by Charities: Statement of Recommended Practice for Charities preparing their accounts in accordance with Financial Reporting Standard 102 applicable in the UK and the Republic of Ireland published on 16 July 2014. ## **1.2 Incoming resources** Voluntary income and donations are accounted for when received by the charity. ## **1.3 Resources expended** Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered. |**Unrestricted**
**Funds**
**2024**
**£**
**2. Voluntary income**
Donations from Sheelaltaf Perpetual Investments Limited
46750
Donations from Gatrad Perpetual Investments Limited
27250
Donations from Mwana Cholowa Limited
6000
Donations from Altaf & Sheela Gatrad 2003 Settlement
7500
Donations from Altaf & Sheela Gatrad 2019 Settlement
5000
92500
**3. Investment income**
Interest received on cash deposits
0
0
**4. Charitable activities**
_Donations were paid as follows:_
Charity no.
CHRISTIAN BLIND MISSION (UK)
1058162
6000
MOTOR NEURONE DISEASE ASSOCIATION
294354
0
HUMANITY WITHOUT BORDERS
1172624
71355
HOPE COMMUNITY VILLAGE
1041185
1200
PROJECT MALA CHARITABLE TRUST
801953
1800
GULZAR E MADINA ISLAMIC WELFARE TRUST
1131667
3400
RAHMA MERCY
1097682
900
EDUCATING THE CHILDREN
1139741
0
UMMAH WELFARE TRUST
1000851
389
ACTION FOR HUMANITY
1154881
5000
90044|**Unrestricted**
**Funds**
**2023**
**£**
30000
22000
6000
4000
3000
65000
0
0
6000
100
49810
1200
1250
4100
1250
356
0
0| |---|---| ||64066| ## **4. Trustees remuneration and expenses** None of the trustees received any remuneration or expenses from the trust during either the current or preceding year.