FUNDS TO HELP THE NEEDY
Report of the Trustees and
Financial Statements For The Year ending 5 April 2024.
aab Accountants Limited 72 South View Drive London E18 1NS.
FUNDS TO HELP THE NEEDY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 5 April 2024.
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 7 |
| Independent Examiner's Report | 8 |
Page 1
FUNDS TO HELP THE NEEDY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDING 5 APRIL 2024.
The Trustees present their annual report and financial statements for the year ending 5 April 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' Act 2011.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity Registration Number 1194386 Trustees Samia Rahman Chairman M M Rahman Treasurer Faisal Sheikh Sumit S Rahman Independent Examiner aab Accountants Limited, MAAT 72 South View Drive London E18 1NS.
Bankers Metro Bank One Southampton Row London WC1B 5HA. Sort Code 23-05-80 Account No. 41589876
Page 2
FUNDS TO HELP THE NEEDY
REPORT OF THE TRUSTEES (contd.)
FOR THE YEAR ENDING 5 APRIL 2024.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
Funds To Help The Needy, is constituted as a Charitable Trust, registered with the Charity Commission on 10 May 2021. It is controlled by its governing document, a deed of trust dated 10 May 2021..
Induction and training of new trustees
New Trustees are given a full induction. Trustees can retire when they wish as they do not serve under a fixed term of tenure. The Board of Trustees has overall control of the charity's activities and meets on regular basis.
Risk management
The Trustees are responsible for the management of risks faced by the charity. The Trustees have undertaken a full risk assessment of the organisation and have introduced various key controls. These controls are reviewed annually.
The Trustees are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.
Principal objectives of the charity
The relief of poverty throughout the world by supporting humanitarian projects.
Activities and achievements: How our activities deliver public benefits.
Funds To Help the Needy aims to aliavate poverty for some by suppoting financially.
The Trustees are in the opinion that the limited funds received from donations has achieved its objective to its maximum and the general public has benefited as far as possible. The Trustees will endeavour to continue towards its objectives in the future, tirelessly.
Page 3
FUNDS TO HELP THE NEEDY
REPORT OF THE TRUSTEES (contd.)
REPORT OF THE TRUSTEES
Statement of Trustees' Responsibilities.
Charities Act requires the trustees to prepare financial statements for each financial year to give a true and fair view of the state of the Charity's affairs, as well as of the Charity's surplus or deficits for that period. In preparing these financial statements, the Trustees have:
Selected suitable accounting policies and then applied them consistently; Made judgements and estimates that are reasonable and prudent; Stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; Prepared the financial statements on a going concern basis.
The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time, the financial position of the Charity so as to enable them to ensure that the financial statements comply with the Charities Act. They are also responsible for safeguarding the assets of the charity by taking reasonable steps for the prevention of fraud and other irregularities.
Accountants
The Trustees will be recommending at the next Meeting that the firm of aab Accountants Limited be reappointed as Accountant and Independent Examiner of the Charity.
BY ORDER OF THE BOARD OF TRUSTEES
Samia Rahman Chairman 23 April 2024.
FUNDS TO HELP THE NEEDY Page 4
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDING 5 APRIL 2024.
| Notes Resources received Donations 1 Gift Aid claim - Total incoming resources Resources expended Donations Paid 28,499 Printing & stationery 0 ------------------ Total Resources Expended - Net Surplus Surplus funds brought forward - Surplus funds carried forward = |
2024 2023 £ £ Restricted Restricted 26,340 24,434 5,528 5,269 ----------------- ------------------ 31,868 29,703 28,948 0 ------------------ 28,499 28,948 ----------------- ------------------ 3,369 755 4,866 4,111 ----------------- ------------------ 8,235 4,866 ========= ========== |
|---|---|
| FUNDS TO HELP THE NEEDY BALANCE SHEET AS AT 5 APRIL 2024. Notes 2024 Restricted £ £ £ FIXED ASSETS 2 0 CURRENT ASSETS Sundry Debtors 0 0 Cash at Bank & in hand 8,235 4,866 ------------------ ------------------ 8,235 4,866 CREDITORS : AMOUNTS FALLING DUE WITHIN ONE YEAR 4 0 0 ------------------ ------------------ NET CURRENT ASSETS 8,235 CREDITORS : AMOUNTS FALLING DUE OVER ONE YEAR 0 ------------------ - TOTAL ASSETS LESS CURRENT LIABILITIES 8,235 ========== = CAPITAL & RESERVES Restricted Funds 8,235 ========== = These financial statements were approved by the Board of Trustees on 23 April, 2024. Signed on behalf of the Board of Trustees M M Rahman Treasurer |
Page 5 2023 Restricted £ 0 4,866 0 ----------------- 4,866 ========= 4,866 ========= |
|---|---|
Page 6
FUNDS TO HELP THE NEEDY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 5 APRIL 2024.
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
These accounts have been prepared under the Charities Act 2011 on the historical cost convention and in accordance with the Statement of Recommended Practice on Accounting and Reporting by Charities: The SORP (FRS 102).
Incoming Resources
All incoming resources are recognised once the charity has entitlement to the resources, it is certain that the resources can be measured with sufficient reliability.
Resources expended
Expenditure is accounted for on accrual basis. Overhead and other costs not directly attributable to particular functional activity categories are apportioned over the relevant categories on the basis of management estimates of the amount attributable to that activity in the year, either by reference to staff, time or space occupied, as appropriate.
The irrecoverable element of VAT is included with the item of expenses to which it relates. Governance costs comprise the cost associated with meeting the constitutional and strategic aims of the charity and the accountancy fees and costs linked to strategic management of the charity.
Fund Accounting
Restricted funds are 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.
Unrestricted funds are used in accordance with the charitable objectives at the discretion of the Trustees.
| TAXATION : The Company by virtue of its charitable status is exempt from taxation. 5.04.2024 Investment of Income £0 Number of Employees 0 FUNDS TO HELP THE NEEDY NOTES TO THE FINANCIAL STATEMENTS (contd.) FOR THE YEAR ENDING 5 APRIL 2024. |
5.04.2023 |
|---|---|
| £0 0 Page 7 |
| 2. TANGIBLE ASSETS: Depreciation is provided at the following | 2. TANGIBLE ASSETS: Depreciation is provided at the following | annual rates in order to write off each | annual rates in order to write off each |
|---|---|---|---|
| asset over its estimated useful life. | nil | ||
| 5.04.2024 | 5.04.2023 | ||
| 3. DEBTORS : | amount due before and after 12 months | 0 | 0 |
| 4. CREDITORS: | amount due before and after 12 months | ||
| Sundry Creditors | 0 | 0 | |
| ========== | ========== |
Page 8
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FUNDS TO HELP THE NEEDY
I report on the accounts for the year ended 5 April 2024, which are set out on pages 4 to 7.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The Charity's Trustees are responsible for the preparation of the accounts. The Charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedure laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S REPORT
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of the 2011 Act.;
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mohammad M Rahman, MAAT. aab Accountants Ltd 72 South View Drive London E18 1NS.
April 23, 2024.