CHARITY REGISTILITION NUMBER: 1194571 Indus Health INetwork UK REPORT & FINANCIAL STATEMENTS 31 December 2022
Indus Health Network UK Financial Statements Year ended 31 December 2022 Page Trustees, annual report - Charity Reference and Administrative Details Trustees, annual report Audit Report Statement of financial activities Statement of financial position io Statement of Cash Flow li Notes to the financial statements 12-22
Indus Health Network UK Trustees. Annual Report Charity Reference and Administrative Details Year ended 31 December 2022 Registered charity name Indus Health Network UK Charity registration number 194571 Registered office 7 Bradman House, Abcrcorn Place St John% Wood London NW8 9XY Trustees Dr. Maieen Durrani Mr. Tahir Ali Mr. Mukarram Sattar Mr. Anwar Zaidi Trustee Tiustee Tiustee Trusiee Auditor Arif Malida Chartered Accountants & Registered Auditors 66 Moyser Road London SW166SQ Bankers Barclays Bank PIC I Chuichill Place. London, E14 5HP Metro Bank Ple I Southampton Row, London WCIB SHA CAF Bank Ltd 25 Kings Hill Avenue, Kings Hill, West Malling MEI 9 4TA
Indus Health Network UK Trustees. Annual Report Year ended 31 December 2022 The Trusiees present iheir annual report together with ihe financial staiernents for the Charity for the period ended 31 December 2022. The Trusiees have adopted the provisions of the Statement of Recommended Practice ISORPI 'Accouniing and Reporting by Chariiies" Ib RS 1021 in preparing ihe annual report and financial staiements of ihe Chariry. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the Charity's LToverninb docuinent {Constitution). the Charities Act 2011 and Accountingy and Rcporting by Charities.. Statemcnt of Recomincndcd Practice (second cditionl applicablc to charitlC5 prcparingj thcir accounts in accordance with thc Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. OBJECTIVES, AIMS & ACTIVITIES FOR THE PUBLIC BEIYEFIT Objective5 and ActItieS The objective of Indus Health Network UK {IHN UK) is the relief of financial need and suffering for the benefit of the public in Karachi, other cities thai require medical facilities, its surrounding areas, in¢luding but not limited to victims of natural or other kinds of disastcr, by providinuj aid, assisting in setting up hospitals. clinics and vaccination ccntrcs and Jncdical ccnircs and by such othcr Jncans as dccmcd suitablc, for such pcrsons, bodi¢s and organisations. IHN UK reli¢s sol¢ly on public donations to raisc funding for thi% cause. IHN UK is anilialed with Indus Hobpital & Hedlth Neiwork IIHHNI. bdsed in Pakistdn which IS d noi-for-profit company rcgistcred under s¢clion 42 of the Companies Ordinancc 11)84. Pakisian. IHHN is a regiSted charity in Pakistan with Charity Registrdlion No. PCP-R2120191234. IHHN is a primary beneficiary of IHN UK'S grant making activities. IHN UK and IHHN have leadership boards which are independent of each other. The appeal and collection of funds in order to make grants (grant making) and charitable donations for the benefit of the health network. the Trustees have ieviewed the ¥uidaiice issued by the Charity Cotnmission regarding public benefit and confirm that the charity objectives and activitie5 are within the public benefit Temit. Grant MakiDg Policies IHN UK has established its grant making policy with a view to directing funds for the public benefit. Only ihose individuals and insiitutions whose appliLaiions lor grani making meet the eligibiliiy criieria, as sei out within ihe Charity Commi8sion for England and Walc%, ar¢ ¢nl¢rtaincd. Thi% would include grants to ovcr%¢a% organizations that havc charitablc or not-for-profit status in thcir location of opcration or to individuals con%idcrcd in nccd of charitable donations as outlined in the Objectives. IHN UK receives grant applications primarily from or for the benefit of IHHN which are reviewed by the Trnsiees on a case-to-case basis. The Charity assesses the grant requesis taking into account the purpose, it's impact and whethcr thcy arc in linc w'ith the ovcrall 0bjcctiCS %ct by IHN UK. Thc a%%c%smcnt al80 takcs into account whcthcr thcre arc mcchanisms establishcd with tlic applicant tliat would allow thc ongoing monitoring and cvaluation of thc projcct including its su%tainability. To %trcamlinc this procc%s, a standard fomiat ha% bccn c8tablishcd whi¢h has been found adequate for the ongoing grant applications. Once a grant has been approved, authorisaiion is accorded to release the funds to the beneficiary and only upon approval does a grant become payable.
Indus Health Network UK Trustees. Annual Report Year ended 31 December 2022 For the maintenante of adequate cashllows that are required to meet the overall running of the Charity. the Trnstees ensure that a minirnum reserve is retained at all times prior to considering any grant application (see Reserves Policy b¢lowl. STRUCTURE, GOVERNANCE & MANAGEMENT The governance responsibilities of IHN UK are overseen by experienced TNstees on a pro bono basis. They includ¢ spcciali8ls from thc mcdical fjeld, financc, marketing and thosc with community knowledge. Try%lc¢% arc expectcd to provide guidance and devclop strategies to steer the Chariiy towards achieving its laid-down goals and objcciives within thc Rcgulatory framewi)rk. The Charity's constitution backed by internal policies sets out the framework to oversee the raising of donations ond its deployrnent. An annual budget is set based on the previous year's perforniance with close aitention being placed on cost-to-income ratios. Trusiees hlild regular meetings during the year io monitor rfL}rnian¢e. When required, policies are discussed and updated, requests for grants are reviewed for approval and new iniliatives debated lor launching. The mana¥etnent of the Charity is entsted to a full-time consultant who is supported by a part time expeTienced consultant. Their principal activity IS birounded towards building awaiene5s amon¥st the tatted donoTS of the woiks being uiidertaken by Indus Hospital & Ilealth Network IIIIIINI. Thi5 Tequires the development of vaTIOUS Lhannels to communicate with the dontsi community including", engaging volunteers ltii the fomation ol. chapters around the UK, live appeals on radioftv. healih shows on specific TV channels, live talks via Zoom or other virtual means, golvcricket tournaments when pemissible. In addition to buildinbF awaTenes5, the consultants are responsible to maintain donor records with due re¥yard to expectation5 under the GDPR ¥uidelines and foi peTiodic lodgmient of gift aid clairn5. GOVERNING DOCUMENT & HOW THE CHARITY IS CONSTITUTED The Charity was fonned as a chariiable incorporated organisation under a Foundation ConstitutiL)n dated 24 May 2021. Thc Charity con%iitutcd and its asscts arc admini%icrcd at]d managcd by thc Trnstcc% under thc namc of Indu5 Hcalth Network UK or by such other naine a5 the Trllstees shall from tirne to time decide with the approval of thc Charity Commi%sion for England and Walc% Ithc CoJnmi%%ionl. TRUSTEE SELECTION METHODS & INDUCTION I TRAINING Structure & Management The Charity operations are overseen by the Twslees with consultanis involved in awareness building and odministration. Management decisions are undertaken through consultation between the Trustees and final Jpproval is made collectively. At the induction of a new Trustee. training would be reeommended dependent on the level of knowledge I experience thai the new Trustee brings. Public Benefit The Trustees have referred to the Commission's guidance on Publi¢ Benefit, including the guidance 'Publi¢ bcncfit.. running a Charity {PB2), and confirni thai thc cliaritable activities arc undcrtakcn for public bcncfit.
Indus Health Network UK Trustees. Annual Report Year ended 31 December 2022 FUND-RAISING STANDARDS INFORMATION IHN UK not any exteTnal pmfessional fundraisernoiany ora¢omme]cia] Cornpany to act on itsbehalf to fund rdise. IHN UK is rcgistcrcd with thc Fundraising Regulator (FRI and practiccs its (Xmlc of conduct for fiu)drnising in acconknce with it. li has registered iiself on the Fundraising Preference Service IFPSI which is a secure charity portal of FR, to ensure that il docs not send dire¢1 markcling communications to peoplc who have made an FPS request. IHN UK uS Donofy CRM, a GDPR compliant systcm that records thc donor's communication prcfcrLcCs for fi]rther contact with thc Sup1Cr5. IHN UK is committed to protecting and respeding privacy and security of its donors and Eelieves that their r¢rsonal dats is an 'Amanah' ITrustl- much like the donaiions- and are therefore committed to being open and tran4went aix)ut how the data is stOd and used. The Charity has a Privacy and Data Prowtion wlicy which ouilines how data is collecie£t manag¢1 ur1 al mtrdn% of pmlccting tho nal infonnaiion. Thi8 policy 18 acc¢%%ible to the public via the IHN UK wcbsitc, https.'Ilindusliospitsl.org.uWprivacy-policyl IHN UK dS noi practice a (Id telephone fundtaising carnpai sn as to avoid and prOtt vujnerdble people and other members of the public. RISK MANAGEMENT IHN UK has a risk management strategy which comprises.. A periodic review of potential risks; Thc cstabli%hmcnt of %ystcms and pro¢¢dur¢% to mitigate tho%c risks id¢ntified and The implementation of piocedures designed to minimise any potential impact on the Charity should those risks materialise. These measures have allowed the Trustee5 to consider the risk5 facin¥ the Charity and believes the exposure to be minimal. The Trustees believe that thib approach to risk managFement is effective. ACHIEVEMENTS & PERFORMANCE The charity complLied the iransfer of all asseis and liabililics from Indus Hcalih Neiwork IChari¢y No.. I154809} on 31 December 2021 and involved prior approval with the Charity Commission for the transfer of these net assets. Net asscts comprisc all asscts and liabilitics transfcrrcd. For the year to 31 December 2022, donation income durins the year totalled £2.450,567 cornptising general donations of £1,140,415 and resiricied dundtions of £1,310.152. A total of 7 gFidnt paymentb were reledbed totalling £307,790. All grant payments wete released foi procurement of equipTnent and services for the benefit of IHHN for health care skill development and expansion of the hospital. Events in the year included the signature Annual Golf Tournament and Speaker event5 Wlth celebrities. As in the past, several community events were held to update them on how their donations were deployed. The donations collected were deployed towards providin¥ medical care to over 300.000 patients at IHHN. There weie in excess of 25,000 patient visits. diagn05tlC5 and tneals were di5tiibuted to the Tnost vulnerable patients. There were over 5,500 cancer treatments providing chemotherapy, 500 custom made prosthetic limbs attached, clubfoot treatment provided to children and adults. As part of the exp)nsion project ai Korangi Hospital, a new ward was funded for mother and baby for safe pregnancies and neonatal care.
Indus Health Network UK Trustees. Annual Report Year ended 31 December 2022 The grant requests received from IHHN during the year included: Healih care skill developmeni £ 13,320 Medical Equipment Piocuied for Hospital Institutions £ 294.470 The above granis were approved during the year and grants of £ 233,330 were disbursed. A grant of £ 74.460 was approved prior lo the year end, committed and paid aftcr the year end. IHN UK has received substantial grani requests post year end for the expansion programme of IHHN dethils of which are further cxplainod in thc Tru%t¢cs' Annual report %oclion Plans for th¢ future bclow. TITLE ASSET TILINSFERS Following the Chaiity Cominission approval foT the transfeT of asset5 fr(iin the previou5 Charitable Trust Indus Healih Network (Charily No 11548091 to IHN UK, Ihe Trusiees absisled by ihe managFement team arrdngFed for all title <ind i1SStt translei for bank dccount5. online platfotms includin¥ website into IHN UK. Followin¥F extended delay due to supplier backlog, the Trustees can confirni thai all title asset transfers are concluded. The Trustees also received approval Irom HMRC ol. the Gift Aid status for IHN UK as part of the transfer process from the Charitable Trust and the incorporaiion to IHN UK. The Trustees of IHN UK are very ¢onscious of their responsibility to arrang¢ an orderly transfer to IHN UK and ore pleased to confirni this has been achieved. PLANS FOR THE FUTURE As of October 2023, The Trustees ¢onfirni they have received, approved and remitted a substantial number of post 31 Dccembcr 2022 grant rcqucsts from IHHN which will be includcd in thc accounts year cndcd 31 December 2023. These bFrant requests are niaterially related to IHIIN expansion progTainme to develop new medical hospitals and clinics in other cities in Pakistan. A Inaterial grant procurement progratnme for various mcdical itcm% occurrcd and grant% in thc region of £ 2M havc bcen rcmittcd. Non cxpansion grants for ongoing bTrants were also requested and grant5 in the rebFion of £ 180K were approved and remitted. These remittances of chaiitable bFiants aiise when IHN UK hold5 5Utplus funds a5 01. 31 Decembei 2022 lyeaiendl and the cycle of grdnt remittances overlap into a new financial year for the charity. Further details are within notes to the accounts, note 17 significant events after the reporting period, as the grant remittances are considered material. The Trnstees shall continue to monitor the level of funds held in IHN UK and continue the grants programme with IHHN which is a primary method of IHN UK fulfillin¥ its charitable obligations. It is expected that with no transactions in the books of the previous charity Indus Health Network (Charity No 11548091. a planned cessation process will follow. To expand its reach for the purpose of creating furtherawareness of ihe excellent work being undertaken by IHHN, IHN UK will Continue with a number of8¢1ivities including.. Social events and general public gatherings io reach out to the Ial communities in major cities / towns within the UK. Engagement wilh high network donors (existing and prospectivel. Fom)aiion of addiiional volunieer groups Social and digital campaigns
L'is l) I .4nnuyl rlf arit¥ rknn Wrth the trJL8fu of&83 trdn th¢ unin¢¢rwAg1#1 th.orit¥bl¢ Iwi IIHNI io IHII UK all 11¢1$ of IHN a6)wd by th¢ thtity. UpJwt¢s rr¥Tew ate UkneTr ty UF4tstr p)licieJ WIre ftecuw. RLSERVFS POLICY Th¢ R¢ PDliq oflHN hastr tTh IHN IJK i.fy lo maintsin wifiaeni frJn(ts to med the cath r forthe 12 T3. Whik ttWLsfttfirt8 tht &85ets ty lTrtN UK theTt¥5a are yisfi¢d thc Rc8tsry¢1 th ACKNOWiEDGMEf4T We wish our the m•Dy vobJMtrt our extrrn41 wJvigNs th¥T¢ IHN UK 8wd hethb llwj tktr 5pm¢ cThtinue shin¢ fvthe trxtttTrtttht TrUSTELS' RESPONSlLLs wrth •FpliAbl¢18W 4nd Uttitrd Kin81kn1 Ac£yMJnting std81th IuniteAI K2ti8th)m &entlY law ¥FVli1c dwiiie5 it & WaiesrWi th¢ Try¢e5 rxepxe fi141 fotedth year 8iY¢ a Ind view of th¢ ofaff4irsof the C7¥ty 8nd of thc tTKfJming select witsbie W)li¢i¢J and thcn 4yty them &)nsistml. obv¢the mdbJth aThJ winuplta in the pplithle lTharits¢¥ SOF 2019 IFRS 102 th¢ (jwity will ÉD ¢4miiixi. A4 >)1 l. thc Cljarity (A¢cothits Rqynry) Wicns2fN)8 1 the wovisithu ofthe IALSL d¢¢d we reswwible for ¥fe8uwJini the ofthe Chty and txn(t fof takin8 rt&Thable steps for the Sigloj M b¢fralfof th¢ Tr on 18 (k4# 2023
Indus Health Network UK Independent Auditorfs Report To The Trustees of Indus Health Network UK Year ended 31 December 2022 WL have audiicd ihe financial siaiements of Indus Hcalih Nciwork Iihc'chariiyl for Ihc year endLd 31 December 2022 which comprise of th¢ Staiemeni of Financial Activiti¢£. th¢ Balance Sh¢¢t. the cash tlow stal¢ni¢nt and the relal¢d nol¢s. including si¥nifiLanl dLLuunlinB policies. The financidl teportinLT fratnewLTrtk Ihdl has been applied in their pPTatIon is appliLdble law and UnItL Kingdom Aeeouniing Siandards including FRS102 'Yhc Financial Rcporting Siandard applieablc in Ihc UK and Rcpublic of Ircland" IUniic41 Kingdom Gcncrally AcCl¢d Accounting Praciiccl. In our opinion Ihc financial sraiemenis.. givc a t¢ and fair vicw of the srate of ihe charity'5 affairs as at 31 Dcccmbcr 2022, and of its incoming Tcsources and applicalii>n of r¢%Durce4. for the y¢aT tlitn ended.. havL bccn propcrly prLyarcd in ac£ordancc wilh Uniied Kingdom Generally Accepied Accouniing Practice,. and hav¢ been prepared in accordanc¢ wilh the requireinent% of the Charities Act 2011. Basis for opinion Wc conducicd our audit in accordance with Inlcrnational Siandards on Auditing IUKI IISAS IUKI and applicable law. Our Te.%n1b111t1eS under those standards are further deCribed in the AuditQT 8 responsibilities foi the audit of the financial siaicmcnis section of our rcpori. Wc arc indcpcndcni of Ihc chariiy in accordanel wilh Ihc cihical rcquircmlmts thai arc relean1 to ouraudii of the finaiicial sial¢m¢nts in the UK. iiicludiiig the FRC'S Fthical Standard. gnd we have fvlfillcd our oih¢r ethical Te5wnsibililies in aLLUTddnLe with Ihese requitemenis. We believe that the audit evidenLe we have obtained is sutriciertl dppruptidle ILI PTuvide fui uur vpiniun. Conelusions relating to going eoncern In auditing ihe financial slateinents, we have concluded Ihat the trusiees, use of the going concem basis of accounting in the PTcparatlOll of ihe financial statcrncnts is appTopriai¢. Based on th¢ w¢ have pertarmd. w¢ have not identified any tnaterial unc¢rtainli¢% T¢lating to ¢v¢nts OT condilian% thllt, individudlly LTrILoIIcLIivL'ly. ttidy La51 significant duubi vn the Lhatily's ability Iu LontinuL' as a LTLTrin¥ LuncLm fur a PLYILNI uf ai l¢asl twelve monihs from when ihe financial siatanents are authorised for Issue. Our r¢sponsibiliti¢s and ihe r¢swnsibilit1¢5 of the trust¢¢s with rpect to going concern 8r¢ de5crib¢d in the relevant sections of thi% report. Other infortnation The firtanLial slateTnents fur the PTIOI firtancidl peTiod year ertding 31 DeLembei 2021 were unaudited the Charity did nul uperate in the periud ended 31 DecembeT 2021. We refer lo the trustees, Tepurt where the TTUStees expldin the ttansferuf funds 10 Ihe Charity on 31 December 2021. Thc other infomiaiion Lomprises Iht InfoMlI0ll incliided in the trusiecs, annual rLVOrt. other than IhL financial siaitmtnts and our audiior's report Ihcrcon. Thc Irusiecs arc rcsponsiblc lor ihc oihcr inforniaiion coniaincd wiihin ihc annual r¢p)rt. Our opinion on the financial siaicmenis dijes noi Coer IhL oihcr information and, excepi 10 ihe exieni otherwise expljciily siaied in oiir report. we do rtoi express any form ofa55urartLe conLIu510n Ihereon. Our rcsponsibility is rcad ihe othcr information and. in doing so, con5idcr whcihcr thc other information is maicrially incon%i%l¢nt with the financial stal¢rn¢nt4. or our knowledg¢ Dbiained in the course of the audit Dr oth¢TWi%¢ 3pp¢ar% to E¢ Inaterially mi%4lal¢d. It. we identity such material inconsisl¢nci¢s or appareni material Inissthtein¢nls. w'e ar¢ required to dettrmine whether (his gil'es rise 10 a mai¢rial Inissiaiemeni in (he financial staieintnts Iheinselvts. If, based on the work we 11gv¢ pcrforined. we conclud¢ that Ih¢r¢ is a Inaicrial niisslat¢ni¢nt ot'iliis other inforiiiaiion. wt r¢quir¢d io rew)rt ihai fact. Matters whirh we are required to report bv exception W¢ hai'¢ nothing lo r¢port in r¢sp¢ct of th¢ follow'ing rnatt¢r5 in Telalion to which th¢ Charili¢s (Accounts and Report51 Re¥ulaliun% 2008 require us lu report tu you if, in OUT upinion.. the infortnaliun given in the financial slatetnentS IS ItiLunsisient in any mateTial respeLt with the trustees. Tepurt" or
Indus Health Network UK Independent Auditorfs Report To The Trustees of Indus Health Network UK Year ended 31 December 2022 the charity hds not kept adequate accounting C5,. 01 the firtartcial statements are nul irt dwemeni with the accouniillg Tecords artd retums: or we have not CeiVed all the infOtIon and explanation we require for our audit. Responsibilities of trustees As explained morc fully in Ihe Irusiecs. rcsponsibiliiics siaicrncni Isci oui on pagc 51, (he INsiccs are responsiblc for ihe prLparaiion ol finanLial siaiemcnis which a IruL and fair VILW. and for such inlLmal conirol as Ihc IruslLLS dciemiinL IS ncccssary 10 cnable thc prcparaiion of tinancial siaicmcnis Ihal arc frcc from matuial rnissiaicmcnl, whcihcr due lo traud or error. In prcparing Ihc financial siaicmcnts, Ihc IrustLYs arc r)nsIbIC lor asscssing Ihc Lhariiy s abiliiy 10 continuc as a going conccm. disclosing. as applicablc. maiicrs relaicd 10 going conccrn and using ihc going conccrn basi5 ofaccouniing unlcss thc trust¢¢% ¢itheT inl¢lld to liquidal¢ the ¢h3Tity or to c¢a%e op¢rations, or have no reali£ti¢ alt¢maliv¢ but to do %0. Auditor'5 rtSPOn5ibilitlC5 for the gudit of the financial statements We have been dppuinled as audilur linder secliun 144 of the Chatities Act 2011 and report in accordance with the Act and Televant regulations tnade OT having effect theTeunder. Our objectives aTe to obtain Tea%onable a%%urance about whether the financial statenienl% a% a whole aTe free froTll Tnalerial TrtlSsldlL'tnL'nt. wheihL'r due lu fraud ur Ltrvr. and lu issue art duditur, rcwvrt thdl InLludL'S LIUI opinion. ReasunablL dssiirdnLe ig a high level of assurdneL bui is noi a guar4gniLC thai an audii conducicd in accordanc¢ with ISAS IUKI will always dcicci a ierial missiaiemeni when Il exisis. Missialement Lan an¥e from (Taud or error artd are Lonsidered material If, irtdiNidu&lly UT in ihe ag¥re¥ale, Ihey Luuld reOnablY be expeLled lu inflLience Ihe eLunDtnic deLisions of Use[ tsken un Ihe basis uf these rillanLial 51dietnenis. Irregularities. including fraud. are in4iance% of non-complignc¢ wilh laws and regulations. We design proc¢dur¢s iii line wilh our responsibilities. outlined aboN'e, io detect maierial misstaiemenis in respeci of irregularities. Including fraud. We planned our audit so thai we havc a rcasonablL cxpceiaiion ofdthcciingy maicrial missiaicmcnis in IhL financial siaicmcnis rcsulting from irrcgulariiics. t'raud or non compliancc lIh law or rcgulations. In idcntifying and a55cssing risks ot'rnaicrial niisst3teni¢nt in re%pect of irr¢gul3riti¢%. includiiiby fraud and non-complianc¢ with law.4 2nd r¢gulalion£. our PToc¢dur¢s iiicluded ih¢ lollowing.. Pwtom)ing analyiical and substaniivc proccdurcs 10 idcniify any unusual or uncxpccicd rclaiionships and icsiing Iransaclional sainple% and jounial entries for appropriai¢n¢ss. Asscssing hether judgcrncnl and assumptions made in dctumining accouniing cstimatcs indicaic potcniial bias Ini'esligated transactions which appears unusual or significani in value and ihe raiionale of Ihe Iransaciion. Enquiring wilh Irusiws and Ihc ehariiy whcihcr Ihcy arc aware or hold knowlcdgc ot'any non-compliancc with laws and regjulaiions. Enquirinbi with Irusiees and thL chariiy of their internal conirols esiablishcd 10 miiigaie risk rclaicd 10 fraud or non- compliancc wilh laws and rcgulaiions. RLviLwing) accounting csiimaics for bias and evaluating whcihcr circumsts¢Cs producing any bias, rcprcscni a risk ot'malcrial missiaicmcni duc io fraud. Reviewing eorrespondence with HMRC and relevant regulators. Asscssing financial siaiLMn¢ni disclosurcs and Icsiing 10 supponing documcniation for compliancc wilh appljcablc laws and regulaiions. Bccause ofihe InhLrLni limithiions oran audii, Ihcrc is a risk Ihai WL will noi dLILci all irrLgulariiies, Including Ihosc Icading to a maicrial misslatMent in Ihc financial staicmcnis or non-compliance with rcgulation. This risk incrcascs Ihc morc that ompliance with a law or r¢&Tul3tion is rem0ed trom th¢ ¢i'enl£ and transactionfi r¢tl¢¢ted iii th¢ financial 413t¢m¢nls. 3£ w¢ 'ill be le85 likely lo becotne aware of i11slwice4 of non-cornpliance. The Tisk 1% also greater regarding irregulaTltie8 (culg du¢ to fraud rather than error. as fraud i11.01.¢$ intentional conc¢alm¢nt. forgery. collusion. omi44ion or misrepresenlalion. A further de¥Tiplion of our r¢s5ibilities for the audit of the financial stateinenls is located on the Trinancial RertIng CounLiI's website httpS.'i.'www.frc.org.uklaiidilvraudit-5su[nceIaud110r-5-resFX)nSIbIIiIIe%-fur-1he-aud1l-0f-Ihe- fddL5cfipiiort-of-Ihe-auditort/.E20/.800/.99s-responsibililiLs-fur. Thi5 dcsLriPlion fum pafl vf OUT auditor's rL'POrt.
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Indus Health Network UK Statement of Financial Activities Year ended 31 December 2022 Period from 24 May 2021 to31 December 2021 21122 Restricted runds Unrestricted funds Total fund5 Total funds Income From Donatioiis and legacies Total income 1,140,415 1,310,152 2,450,567 1,140,415 1,310,152 2.450,567 Expenditure On Ra15iiigT Funds Charitable activitie5 1283,2871 1436,471) (283,287) (436.471) 617 Total Expenditure 1719,7581 719,758) Net Income l {Expenditure) for the Yeor before other recognised gains I (losses) 420,657 1,310,152 1.730,¥09 Other Recognised Gain5 1 (Ios5es} OtheT gains / Ilosscsl Net movemeDt funds 420,657 1,310.152 1,730.809 Reconclllatlon of funds Asseis Ir(Insferred frum Indus Health Network Charity No 1154809 AI 3111212021 543,063 203.249 746,312 746,312 Total funds carried forward 9113 963,720 1,513,4111 2,477,121 746.312 The statement of financial activities includcs all gains and losses rccognised in the year. All income and expendire derive from continuing activities. The notes on es 12 to 22 forrn art of these finan¢ial ststernents.
3.1 O<ce'rr, .2021 Dto 3192$5 8LH.305 86-.26< 12 fr47) (Irm),(l]} 120.953) IIIJ,J65) lJ20J53) Net rnTre•l • 746JL2 r46J12 Net kn¢ts 2877,111 746J12 of the thwlty 543.(I53 203249 746J12 13 4477,J21 ity Nts: 1194571 10
Indus Health Network UK Statement of Cash Flow 31 December 2022 Period from 24 May 2021 to31 December 2021 2022 Cash flows from operatiThg activities Net Income / (expenditure) for the financial year 1,730,809 Clian£es in.. {Inciea5e) l Decrease in debtors Increase / IDecrea5e) in creditors Increase / IDecrea5e} in Accrued expense5 Cash ¥enerated from l {used inl operations {256,795) 125,235) 15,447 {266,583} Net cash from l (used in) operating #ctivities 1.464,226 Cash flows from financing activities Net cash (used in) / from financing activities Net increase l (decrease) ITh cash cash equivaleNt5 1,464,226 Cash transferred fro lThdus Health Network No 1154809 {Note 13) 804,805 Cash #nd eash equll'alents at be%lnnln2 of ve#r 804,805 Cash and cash equivalent5 at eThd of year 2.269,031 804,805 Tho not•s on as 12 to 22 form art of th•s• financial stat•m•nts. 11
Indus Health Network UK Notes to the Financial statements 31 December 2022 General iThformatioD & Basis of Aceounting Th¢ charity is a public bcncfit ¢ntity and a r¢gi8ter¢d charitable in¢orporat¢d organi%ation r¢gistcr¢d in England and Wales. The address of the principal office 15 7 Bradinan House, Abercorn Place. St John5 Wood. London NW8 9XY. The nature of the charity's operations and principal activities are the relief of financial poverty and suffering in Karachi by proN'iding aid and assisting in setting up h05Pltals. The Charity constitutes a public beiiefit eiitity as defined by FRS 102. The financial statement5 have been prepared in accordance with Accounting and Reportiiig by Charities.. Statement of Recominended Practice applicable to Lharities preparing their acLounts in accordance with the Financial Reporting Standard appliLable in the UK and RepubliL ol. Ireland IFRS 1021 issued in Octobei 2019. the Financial Reporting Standaid applicable in the United Kingdom and Republic ol'lreland IFRS 1021, the Charities Act 2011, and UK Generally ALcepted Practice. The financial statements are prepared on a going concern basis (note 31 and the functional currency ol. the charity is in Sterling. The financial statements have been prepared under the historical cost convention. Statement of compliance Th¢sc flnancial siatcmcntq hav¢ bc¢n prcpar¢d in Compliance with FRS 102, 'Thc Financial Reporting Standard applicable in the UK and the Republic of Ireland., the Statement of Recoininended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (Charities SORP IFRS 1021 and the Charitie5 Act 2011. Aecounting polieies Basls of preparatlon The financial staiemenis have been prepared on the historical cost accrual basis, as modified by the revaluation of certain financial asseis and liabilities where required by law. The financial staiements are preparcd in sterling. which is thc funciional currency of ihL cnlity. Going ¢on¢er The financial ststements have been prepared on a going concern basis as the trustees believe rhai no material unccrtaintics cxist. Thc truslcc5 havc considcred thc Icvel offunds hcld and as a minimum the cxpcctcd Icvel of incomc and cxpcnditurc for thc pcriod of twclvc Inonths from thc date of authorising Ihcse fillancial statcmcnts. The continucd incoinc and expenditure are sutTicient with the level of reserves for the charity to be able to continue as a going concern. Fund #ccounting Uniestiicted I'unds are available for use at the discietion of the trustees to further any of the Charity's purposes. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the tem)s of an appeal for particular purposes. The aim and use of each restricied lund is sei out in the notes to the Iinancial statemenis. Incoming resources All incoming rcqourcc8 arc includcd in thc %tatcmcnt of financial activitic% whcn cntitlcmcnt has pas%cd to thc charity,. it i% probable that thc cconomic bcnefit% a%sociatcd with the iransaciii)n will flow to thc charity and thc amount can bc rcliably mca%urcd. Thc following %pccific policics arc applicd to particular catcgorics of incorne-. 12
Indus Health Network UK Notes to the Financial statements 31 December 2022 income from donations or grants is recognised when there is evidence of entitlement io the gift, receipt is probablc. and lis amouni can be measurcd reliably. Gift Aid lax recovcrablc under ihe Gifi Aid Scheme is rc¢ognised when there is an cntitlcment, ccrtainly of rc¢cipt and the amount measurcd with suffi¢icnt rL.liability. Where a claim for repayment of income tax has been or will be mad¢, such incomc is includcd in thc debtors. if not rcceivcd by the ycar end. Resource5 expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be llY recovered, and is classified under headings of the statement of f]nancial activities to which it relates.. cxpcnditure on rai%ing funds includc% the cost% of all fundraising activitics. cvcnts, non-charitablc tTading dctivities, and the sale of dundted ¥oods in attiaLtin¥ voluntary incume. expenditure on charitable activitle5 include5 all costs incurred by a charity in undertaking activities that furthei it5 charitable aim5 for the benefit of its beneficiaries, including those support Costs and Costs ielating to tlie goveTnance of the chaiity apportioned to charitable activitie5. These include diiect chaiitable expenditure, gTants and support cost5 relating to those activities. Grants payable to other organisatiotjs are recognised in the SOFA when approved by the trustees and temis are payable. other expenditure includes all expet]diture that 15 neither related to raising fund5 for the charity nor part of its expenditure on charitable activities. Support costb.. Support Costs are Ihube lunctions that <lSSlSt the work ol. the chdTity but do not diiectly undertake chaiitable dctivities. Support Costs foi a sinsile activity are allated to the particularactivity where the cost ielates directly to that ilctivity. How'ever, Support cobtS that iepiesent the support functions of managcmLnt, finance, human resources, IT and suppon departments at¢ribulablc lo the managcmcnl of the Charity's assets. are allocaied in proportion to the iype of Charitable activity during the period. These costs have been allocated beiween Cost of raising funds and cxpendilure on chariiable acliviiics. ThL bases on which support cosis have been allocalcd are set out in note 7 All cosis are allocated to expenditure caiegories reflccting thc u%c of thc rcsourcc. Dircct cost% attributablc to a singlc activiry arc allocatcd dircctly to that activity. Sharcd cost% arc apportioncd bctwcen thc activitic% thcy contributc to on a reasonablc, jllstifiable and consi%icnt basis. Ciovcrnancc cost%.' arc the cost% associatcd with thc govcrnancc arrangcmcnt% of thc charity. Thc%c co%ts arc a%%ociatcd with constitutional and statutory rcquircjncnts and includc any cost% associatcd with thc strategic management of the Lharily's aLtivilie5. GoweTndnLe support costs are allocated on the basis of support activities provided on Llearly interpreted governance rnalters. Forelgn Currencv and Reallsed Galns and losses Transactions in foreign currency are translated at rateb prevailingF ai the date ofthe trdnsaction. Baldntes denominated in loreign Lurrencies are Irdnslated at the raie pieN'ailingT at the yedr-end. All exchange lerenLeS are recogFnised thiough the statement of linancidl tivitIes. Redlised gFains and losses are calculated as th¢ difTcr¢nc¢ bciwc¢n incom¢ procceds and their Carrying valuc and arc recognised in the Statement of Financial Aciiviti¢s as they Jrisc. Debtors and creditors receivAble I payable within one ye&r D¢btors and Creditors with no stated inter¢st ralc and re¢¢ivablc or payabl¢ within one year are recorded at trdnsaction price. Any losses arising from impairment are recognised in eXpendIre. 13
Indus Health Network UK Notes to the Financial statements 31 December 2022 Cash and cash equivalents Cash and cash cquivalents include cash in hand and balanccs hcld with financial banking or platforni institutions with whom thc charity has a bank account or platfom) relationship with. Taxation The tTU5t 15 a Tegi5tered and exeTllPt charity within the meaning of Schedule 3 Charitie5 Act 2011 and therefore is not liable to income tax from lis charitable aciii'ities. Vat.. Costs are recorded gross of VA T and the charity is not registered lor VAT, so all costs are recognised gross of VAT. Change of financial period end date The financial period end of the charity was changed from 31 May to 31 De¢¢mber to b¢ cotemiinous with the calendar year ¢nd. Accordingly, the prior pcriod ¢omparatives are prepared for a financial period appraximatcly 7 months from 24 May 2021 to 31 Dc¢¢mber2021. As a result, the comparativc figures stated in th¢ Statcmeni of Financial A¢iivitie5, Siatemeni of Cash flow and the related notes are noi comparable on this basis. Income from DonatioDs legacie5 Unrestricted Fund5 Restricted Total Funds Funds 2022 Donations Genei<il Donations Gift Aid Zakat Donations Sada4ah Donations Fidyah Donations Fitrana Donations 823,159 317,256 823,159 317,256 994,$20 313,256 520 1.1556 994,520 313,256 520 1,856 1.140,415 1,310,152 2,45ll,567 Unrestricted Funds Rc%tricted Total Funds Funds 2021 DonatioThs Geiicial Donations Gift Aid Zakat Donation5 Sadaqah Donations Fidyah Donations Fitrana Donations 14
Indus Health Network UK Notes to the Financial statements 31 December 2022 Raising Fllnds: UnrestTiCted Funds Restricted Total Funds Funds 2022 Fundraising Adininistrators Advertising I Promotional / Event Costs Total cost of generating funds 48,421 234,866 48,421 234,866 283.2L17 283.2217 Unr¢%trict¢d Funds Restricted Total Funds 2021 Fundraising Administrators Adi'¢rtising I Promotional l Ev¢nt Costs Total cost of geertillg fuThd5 Ch#ritable Activitie5: Unrestricted Funds Restricted Total Funds Funds 2022 Grant making Support & Govemanee Costs 307,790 128,681 307,790 128,681 Totgl cost of charitable activities 436,471 436,471 Unrcstrictcd Funds Rc%trictcd Total Funds Funds 2021 Giant makin Suppurt & Govetnance Cost Total cost of charltable actlvltles 15
Indus Health Network UK Notes to the Financial statements 31 December 2022 EXPEIYDITURE ANALYSIS ChArltable M¢tlvliles 2022 TotAI 2021 TotAI Cost of gcnuaiing funds Direci 283.287 283387 Grant Making Dired 307,790 307,7911 Bdnk char¥es Suppurt 26,625 26,625 Consultancy Fccs Suppon 30,791 23,167 53,958 CJen¢ral Adinini4trative ¢xp¢ns¢ Support 25,¥65 25.965 Trdvel dnd MutOT cxpcnscs Suppon 2,926 2,926 Subscriptions Suppon 4,292 4,292 Printing, Posthge and Stationcry Suppon 515 515 Audii fees Govemance 14,4(M) 14AIIO Bookke¢ping f¢¢ Gov¢mance Total expenditure 2022 2¥3,2167 JJ¥s¥1 37.567 60J23 791,75¥ Total expenditure 2021 16
Indus Health Network UK Notes to the Financial statements 31 December 2022 7A. Analysis of Grants ANALYSIS OF GRANTS TO INSTITUTIONS AND INDIVIDUALS Activlty Institutions Individuals Health Lare skill developinent Medical Equipment ProcuTed loi Hospildl In51ituliun5 TOTAL 2022 13,320 294,470 307,790 Activity Institutions Individuals Hospita15 1 Medical Centres & Illness treatments Medical Equipment PTocured for Hospital Institutions TOTAL 2021 Ii. ANALYSIS OF TOTAL GRALYTS BY FUND TYPE Activity Unrestricted General 1£ 13,320 Restricted Restricted Restricted Restricted Zakat l £ SadaqAh l £ Fidyah l £ Fitrana l £ Health care dcvclopmcnt Mcdical Equipmcnt Procured for Hospital Institution Food & Relief vf Poverty TOTAL 2022 294,470 307.790 Activitv Unrestricted Restricted General 1£ Zakat l £ Restricted Restricted Restricted Sadaqah l £ Fidvah l £ FitraDa l £ Hospitals I Medical Centreb & Illnes5 tredimentS Medical Equipment ProLuied for Hospital Insliiutions Food & Reli¢f of Pokerty TOTAL 2021 Due to the charity reorganisation and incorporation, the comparative 2021 grant activity is listed as Nil. Howcvcr, the unincoryoratcd cliarity Indus Health Network Charity No 1154809 paid and coinmittcd grants iotalling £ l.(H5,058. 17
Indus Health Network UK Notes to the Financial statements 31 December 2022 ANALYSIS OF MAJOR INSTITUTIONAL GRANTS Material Institutional LTraiits lucater than £ 2.000} wcrc paid as follows.. Name Amount / Activity Indus Hospital & Hcalth Network. Pakistan 13,320 Health carc skill dcvclopmcnt Indus Hospital & Hcalth Nctwork. Pakistan 294,470 Medical Equipment Procured for Hospital Institutions Total 2022 307,790 Total 2021 7B. Grants payable 20221£ 233.330 74.460 20211£ Paid durin£ the vear Committed Amounts 100.000 Carried forTrv#rd Grant eommitment 74.460 100.000 8. Net Income for the Year This 1$ stAted after £h8rging: 2022 2021 Auditors, remuncration.. audit of the financial staternents 14,400 9. Analysis of charitable funds Unrestrlcted funds At l January At 2022 Income Expenditure 31 December 2022 General funds 543,063 1,140.415 1719.758) 963.720 Unrestricted funds cary forward 543,063 1,1411,415 1719,758) 963,720 Restricted fuThd5 At l January 2022 At 31 December 2022 Income Expcnditure Restrieted Fund - Zakat 40,617 994.520 1.035.137 Restrieted Fund - S*d#qah 162,632 313.256 475,888 18
Indus Health Network UK Notes to the Financial statements 31 December 2022 Restrieted Fund- Fidvah 520 520 Restrieted Fund- Fitrana 1,856 1,856 Restriettd funds earry forTrvard 203,249 1,310.152 1513,401 Funds transfer Assets translerred Irom Indus Health Network Charity No. 11541109 At 31 December 2021 Income Expenditure General funds 543,063 543,063 Unrestricted funds carry fonvard 543,063 543.063 Restricted Fund - Zakat 40,617 40,617 Restricted Fund - Sadaqah 162,632 162,632 Re5tTiCted Fund - Fidyah Re5tTiCted Fund - Fitrana Resiricied funds carry forward 203,249 203,249 10. Debtors 2022 2021 Gift Aid Receivable Prepaymenis 317.255 2,000 62.460 I l. Analysis of eAsh and eash equivalents At 31 December 2022 At l January 2022 C#5h floTrvs Cash at bank and in hand 804.805 1,464,226 2,269,031 12. Creditors: Amounts falling due within one year 2022 2021 Accruals Creditors 36,400 74,765 20,953 i 00,o()o 19
Indus Health Network UK Notes to the Financial statements 31 December 2022 13. Fund balance 1¢ 31 December 2022 are represented by Unrestricted fund Restricted fund Total fund5 2022 Debtor5 Cash at bank and in hand Creditots.. due within otje year Totals 319255 755,630 319.255 2,269.031 1,513.401 963.720 1,513,401 2,477,121 Fund balance at 31 December 2021 are represented by Unrtstritted fund Rtstrieted fund Total fund5 2021 Debtor5 Cash at bank and in hand Creditors.. due within one year Totals 62,460 501,556 20,953) 543.063 62.460 804.805 120,953 746,312 303.249 100,000 203,249 Restricted Funds at 31 December 2021 are: Fund Type Funds tran5fer- Assets transferred from Indus Health Network Charity No 1154809 Restrieted Fund- Zakat 40.617 Restricted Fund- Sadaqwh 162.631 Restricted funds carry forward 203,249 20
Indus Health Network UK Notes to the Financial statements 31 December 2022 13A. Transfer of Fund5 to Indus Health Network UK Charity No 1194571 On 31 Dcccmbcr 2021, thc charity transfcrred its opcrations to the charity as part of a long-term rc-organisation and rcstrncturing. The chaiity obtained piioi approval from the Charitie5 Comrni55ion as part of thi5 transfer and once approval was received the chaiity proceeded to tran5fei its c105ing fund5 of 31 December 2021 to the newly inCOTporated CIO. A5 of 31 December 2021, the transfer of fund5 comprising of assets and liabilitle5 is a5 follows Total Assets and Liabilities Transferred on 31 December 2021 Restricted fund - Restricted S8daqah fund - Zakat Unrestricted fund Debtors (Gift Aid) Cash at bank and in hand Creditors.. due within one year Total Nei A55ets l FuNd5 tr#nsftrred to Indu5 Health Network UK {Charitv No 1194571) 62,460 501,556 20,953 62.460 804.805 120.953 162,632 140,617 100,000 543 063 162.632 40.617 746J12 From 31 December 2021, the new charity, Indus health Network UK has merged the operations of the two charities. The Trnstees have completed ihe handover of remaining logistics including handover of legal title over to the charity. Ot] 31 Dcccmbcr 2021, thcTe was a closing committed Zakat grant payable (note 7BI, which was transfcrred to the charity as part of the Jncrgcr and transfer from the old charity. The committed Zakat grant amount of £ 100,000 was remitted by thc charity on 17 January 2022. 14. Employees The charity has no employees during the year and prior year. 15. Trustee remuneration and expenses No trustee received any remuneration for the year ended 31 December 202212021= Nil} 21
Indus Health Network UK Notes to the Financial statements 31 December 2022 16. Related Parties The charity is affiliated with Indus Hospital & Health Network. Karachi, Pakistan (Pakistan Entity number.. 00665911 {'Yhe Hospital"}. AccordinLFly, the charity lias bcen initiated to fundraisc for chaTltablc bFrants in rcspcct of thc Hospital and the H05Pital has been the primary beneficiary of the Giants paid and disclosed within note 7 of the notes to the linancial 51atementb. Within note 7. total gTantS' Pdid and Lornmitted to the Hospital and on itb behalf amounted to £ 307.79012021.. Nil). Whilst the charity ha5 thib al'liliation. the bodrd of trusteeb of the chatity are independent of The Hospitdl and do hold any key mandbFeTnent or diieLtor positivns within the Hvspital. Due to the ¢harity reorganisation and incorporation, the comparative 2021 grant activity above is listed as Nil. However, for appropriately disclosure, the unincorporaicd chariiy Indus Health Nctwork Chariiy No I154XOg paid and commiiied grants iotalling £ 1,045,058 for the period l April 2021 to 31 December 2021. Note 17 incorporates significant events after the reporting period for grant donations paid for ihe benefit of the Hospital. 17. Signifieant Events after the Reporting Period The Trustee5 confi]ll] they have received, approved and remitted a Substantial nuinber of post 31 December 2022 grant rcquc%ts from Indus Ho%pital & Hcalth Nctwork, Kardchi, Pakistan which will bc includcd in thc accounts year ended 31 December 2023. These gFfdnt requests tnalerially relted to IHHN expaiision pr(i¥ramme to develop new m¢diLal h05Pitals and Llinics in Pakistan. A maieiial grant procuiement progiamme loi various mediLal items tiLcutted and grai)ts in the region of £ 2M have been leTllitted from l January 2023 to the date of signing tl)ese financial s¢atemenrs. Non expansion grants for ongoing granis were also requesied and granis in the region of £ 180K were approved and remitted. Thcsc grant% rcprcscnt a rclcasc of charitablc grant activitics whcrc thc charity hcld adcquatc as of 31 Dccembcr 2022. Thcsc post ycar cnd grants rcmittcd r¢prcscnt a signifjcant ¢vcnt after th¢ reporting p¢riod. 22