# **TWO HANDS CHARITABLE TRUST**
**(Charitable Incorporated Organisation)**
## **GROUP ANNUAL REPORT AND FINANCIAL STATEMENTS**
**FOR THE PERIOD 4 JUNE 2021 TO 31 OCTOBER 2022**
**REGISTERED COMPANY NUMBER: CE025474 (England and Wales) REGISTERED CHARITY NUMBER: 1194683**
Xeinadin Audit Limited 8th Floor Becket House 36 Old Jewry London EC2R 8DD
**TWO HANDS CHARITABLE TRUST CONTENTS PAGE FOR THE PERIOD ENDED 31 OCTOBER 2022**
||**Page**|
|---|---|
|**Reference and Administrative Details**|**2**|
|**Report of the Trustees**|**3 to 5**|
|**Report of the Independent Auditors**|**6 to 8**|
|**Consolidated Statement of Financial Activities**|**9**|
|**Consolidated and Individual Balance Sheet**|**10**|
|**Group Cash Flow Statement**|**11**|
|**Notes to the Consolidated Financial Statements**|**12 to 19**|
**TWO HANDS CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS**
## **FOR THE PERIOD ENDED 31 OCTOBER 2022**
|**Trustees**|Riyaz Hussein Rajabali|
|---|---|
||Hasnain Roshanali Merali|
||Mohamed Roshanali Merali Dewji|
||Abbasali Merali|
||Hyderali Zafferali Datoo|
|**Charitable Incorporated Organisation**|1194683|
|**Number**||
|**Registered Office**|61 Charlotte Street|
||London|
||W1T 4PF|
|**Auditors**|Xeinadin Audit Limited|
||8th Floor|
||Becket House|
||36 Old Jewry|
||London|
||EC2R 8DD|
2
**TWO HANDS CHARITABLE TRUST**
## **REPORT OF THE TRUSTEES**
## **FOR THE PERIOD ENDED 31 OCTOBER 2022**
The Trustees are pleased to present their annual Trustees Report together with the financial statements of Two Hands Charitable Trust for the period ended 31 October 2022.
The trustees have adopted the provisions of 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).
## **Structure, management and objectives**
Two Hands Charitable Trust is a Charitable Incorporated Organisation and was registered on 4 June 2021 under charity number 1194683.
The Trustees who served during the year were:
Riyaz Hussein Rajabali Hasnain Roshanali Merali Mohamed Roshanali Merali Dewji Abbasali Merali Hyderali Zafferali Datoo
## **Objectives and activities**
The Charity's Objective as set out in its governing document are for the public benefit to further such purposes which are exclusively charitable under the laws of England and Wales, as the trustees see fit from time to time.
## **Achievement and performance**
During the first period of activity, the charity received donations of £3,287,144. This includes a donated property valued at £1,300,000. The property will be utilised for charitable purposes and treated as Programme Related Investment. The charity made grants of £1,891,665 to UK registered charities.
In the period the charity took over Mehfil e-Ali Foundation a not-for-profit organisation based in The Hague, in the Netherlands. The organisation had a property utilised for programmes and hence it is recognised at cost. Depreciation will be provided in future years.
3
**TWO HANDS CHARITABLE TRUST**
## **REPORT OF THE TRUSTEES**
## **FOR THE PERIOD ENDED 31 OCTOBER 2022**
## **Key management personnel**
All administrative tasks were carried out by the Trustees, who are also the key management personal of the charity. The trustees are not remunerated for their services to the charity. The charity does not employ any paid staff.
## **Risk Review**
The Trustees have identified the main areas where risk may occur:
1. Governance – how strategic priorities are set, and decision making is carried out, with regards to the future activities of Two Hands Charitable Trust, as well as compliance with its regulatory duties.
2. Grant Management – assessing the risks inherent in the charity’s operation with regards to its grant making including how grants are made, who they are given to, and adapting the needs of the beneficiaries to respond quickly whilst ensuring its adherence to the charitable objectives.
3. External – assessing the risks that can arise as a result of political, social and economic change, as well as possible damage to the Charity’s reputation due to adverse publicity or failed partnership.
## **Public Benefit**
The Trustees confirm that they have referred to the Charity Commissions' general guidance on Public Benefit when reviewing and shaping the charity's aims and objectives. The charity works to ensure that its programmes are inclusive, accessible, and responsive to the needs of the beneficiaries.
## **Reserve Policy**
As the charity does not have any staff or rent for the premises, the need to hold any reserves is not necessary, except for the small amount that may be required to pay for ongoing maintenance, for the property held by the subsidiary. Six month’s equivalents of the expenditure will be less than £15,000. The actual reserves of the charity, at the period end was £75,161, in addition to the two properties treated as designated funds.
## **Financial Review**
Income for the period was £3,512,120, including £1,987,144 derived from donations, £1,300,000 related to a donated property and £224,976 related to the transfer of assets from the Dutch Subsidiary. Expenditure for the year was £1,962,949 of which £1,891,665 were grants paid to other UK Charities, £58,284 were general administrative expenses and £13,000 related to depreciation.
## **Plans for the Future**
The Charities group main aspiration is to continue to push and venture forward with development plans for further grants to registered UK charities.
4
TWO HANDS CHARITABLE TRUST
REPORT OF THE TRUSTEKS
FOR THE PERIOD EL¥DED 31 OCTOBER 2022
Stateent of Trustees Responslbl]Aties
The tTUStees are Tesponsible for prcparing thc Report of Ihc Trusices and the fLt)ancial statcm¢nts it) accordance with applicable
charity laiv and Uniled Kingdom Ac¢ouniin¥ Standards IUnit¢d Kingdom Generally A¢¢¢p*d A¢¢ounting Pr&clicel.
Charity law require4 the trustees to prepare fJnBncial statements tor each financial year which give a tn]e and fair view of thesraie
of affaiTS of the charitable compally attd the gri)up and of the Incoming resources and application of rcsourccs, includin8 th¢
income and ¢Kpenditur¢, vf the ¢haTiiabl¢ or¥anisation and the growi for that p¢riod. In pr¢pariTJg th1 financial stateTnents. the
Is*es arc required to..
select 5Uitabl¢ ac¢ow)ting poli¢ies and then apply them coThsistenily,'
- obsttve th¢ methods and principles IJ) thc Charity SORP.
- make judgemenis and estimaS that arc r¢&8onabl¢ and prud¢ni.'
- slate wheiher appljcablt accountillg standards have been followed. subjec¢ lo any inaterial d¢p4rtur¢s th"sclotsed and explained
in the financial 5tatem¢nts-.
prcparc th¢ financial stst¢yn¢nts on th¢ goi cort¢em b]$ un1¢$5 It is inappropriat¢ to pr¢sun* that the charitable ¢ompany
and ihe group will continue in busiTh¢ss.
The tNstees are Tesponsible for keeping prop¢r accoun¢in¥ records whLLh di5c105e with reasonable accuracy at any lime
the financial position of the charity and to enable them to ensur¢ that the financial 51ateTnent5 comply with the Charities
Art 2011. They are also responsible for safeguarding thc assets of the charitablc organisation and the group and hcncc for
taking reasonable steps for the prevention aTKI detection of frttud and other irregularities.
In so far as the trustees ar¢ awar¢'.
there is no relevant audit information of which ¢h¢ chatitabl¢ organisation 5 auditor5 are unawa. and
- the tnlslees have tsken all 5teP5 that they ought to Ilave takcn to make thtm%elves aware of any relevant audit inforniation
and to ¢8lablish that the auditors arc aware of that inf(fftnatiOII.
Signed on b¢hal
of the Board of Trustees on 28 July 2023.
Hdbna
TTh5t
**INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF TWO HANDS CHARITABLE TRUST**
## **Opinion**
We have audited the financial statements of Two hands Charitable Trust for the period ended 31 October 2022 which comprise the Consolidated Statement of Financial Activities, the Group and Charity Balance Sheets, the Consolidated Statement of Cash Flow and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- give a true and fair view of the state of the group’s and of the parent charity’s affairs as at 31 October 2022 and of the group’s net movement in funds for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent charity; or
- sufficient accounting records have not been kept; or
- the parent charity financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
6
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF TWO HANDS CHARITABLE TRUST**
## **Responsibilities of trustees for the financial statements**
As explained more fully in the trustees’ responsibilities statement set out on page 5, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the group’s and the parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations relates to the regulatory requirements of Charity Law and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011 and the application of FRS 102.
We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to application of controls around authorisation of journals and, expenditure and payments. Audit procedures performed by the engagement team included:
- Enquiries of management regarding correspondence with regulators;
- Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
- Evaluating management’s controls designed to prevent and detect irregularities;
- Identifying and testing journals, in particular, journal entries, postings by unusual users or with unusual descriptions; and
- Challenging assumptions and judgements made by management in their critical accounting estimates;
- Reviewing the procedures around authorisation of payments.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
7
**INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF TWO HANDS CHARITABLE TRUST**
## **Use of our report**
This report is made solely to the charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity’s trustees as a body for our audit work, for this report, or for the opinions we have formed.
Mr Narendrakumar Mistry FCA (Senior Statutory Auditor) for and on behalf of Xeinadin Audit Limited
8th Floor Becket House 36 Old Jewry London EC2R 8DD
Date: 28 July 2023
8
**TWO HANDS CHARITABLE TRUST CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)**
## **FOR THE PERIOD ENDED 31 OCTOBER 2022**
|**Note**
**Income from**
_Donations & legacies_
Donations
_Transfers from Mehfile-e-Ali_
**Total**
**Expenditure on**
Charitable activities
Foreign exchange gains
**5**
**Total**
**Surplus and Net movement in**
**funds**
**Total funds carried forward**
11|**Unrestricted**
**Funds**
**2022**
**£**
3,287,144
224,976
3,512,120
1,962,949
(31,123)
1,931,826
1,580,294
1,580,294|
|---|---|
The results for the year are derived from continuing operations.
There were no recognised gains or losses, other than those passing through the statement of financial activities. The accompanying notes form part of these financial statements.
9
TWO HANIKS CHAIUTABLE TRUST
GROUP AND JNDIVIDUAL BALANCE SHEET
FOR THE PERtOD ENDED 31 OCTOBER 2(122
Group
2022
Charity
2022
Not¢9
FIXED ASSETS
Tankjible red assets
PrograD]me Related
Investments
218.133
I,287,(0
1,287.(K)O
1.505.133
1,287.(K>O
CURREiYf ASSETS
Cash at bank and in hatKi
86.361
81,923
86.361
81,923
CREDITORS-
falling due within one yexr
111.200)
111.200)
NET CURREf4T ASSETS
75,161
70.723
NET ASSETS
1,580,294
1.357.723
FUNDS
General Funds
75.161
70,723
1,287.(M)O
Designated Funds
,505.133
1.580.294
1,357,723
The net movement in fi]nds for the parent charity arnounted to £1.357.723.
The financial statements were approved and authorised for Issue by the Board of Tnhstees on 28 July 2023 and were stgn¢d
below thn ILS beh
by..
H Merali
The accompanying note5 forn port of these finoJ]cial statements.
io
**TWO HANDS CHARITABLE TRUST GROUP CASH FLOW STATEMENT FOR THE YEAR ENDED 31 OCTOBER 2022**
|||**Total funds**|
|---|---|---|
|||**2022**|
||**£**|**£**|
|**Cash flows from operating activities**|||
|||1,604,494|
|**Cash flows from investing activities:**|||
|Purchase of property and Programme Related Investments|(1,518,133)||
|**_Net cash (used in) investing activities_**||(1,518,133)|
|**increase in cash and cash equivalents in the reporting**||86,361|
|**period**|||
|**Cash and cash equivalents at the end of the reporting**||86,361|
|**period**|||
|||==========|
|||**2022**|
|||**£**|
|**Reconciliation of net movement in funds to cash flow**|||
|**from operating activities**|||
|Net movement in funds||1,580,294|
|Depreciation||13,000|
|Increase in creditors||11,200|
|**Net cash provided by operating activities**||1,604,494|
|||==========|
|**Analysis of cash and cash equivalents**||**2022**|
|||**£**|
|Cash in hand||86,361|
|**Total cash and cash equivalents**||86,361|
|||========|
11
**TWO HANDS CHARITABLE TRUST**
**NOTES TO THE GROUP FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 OCTOBER 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of Preparation**
**T** he financial statements have been prepared in accordance with 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) – (Charities SORP 2015 (Second Edition, effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Two Hands Charitable Trust meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Going Concern**
Given the charity’s donations received in the year and an agreement with the donor to fund further work, the Trustees consider that the charity has adequate resources to continue in operational existence for the foreseeable future, including the next 12 months from the date of signing these financial statements. The Trustees also consider that the aforementioned resources would allow the charity to meet its obligations and debt as they fall due Accordingly the financial statements have been prepared on a going concern basis.
## **Basis of Consolidation**
The financial statements consolidate the results of the charity and its wholly owned subsidiary Mehfil e-Ali Foundation on a line-by-line basis. A separate Statement of Financial Activities and Income and Expenditure Account for the charity has not been presented because the charity has taken advantage of the exemption afforded by the Charities Act 2011.
## **Income**
All income is recognised once the charity has entitlement to income, it is probable that income will be received, and the amount of income receivable can be measured reliably.
## **Donations**
Donations income is accounted where there is entitlement, probability and is measurable.
## **Expenditure**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.
## **Value added tax**
Value added tax not recoverable is included in the relevant costs in the Statement of Financial Activities.
## **Tangible Fixed Assets**
Tangible fixed assets are stated at cost, less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful life.
The building held by the charity is currently unoccupied and will be depreciated as soon as its occupied. Programme Related Investments is depreciated over 50 years on a straight-line basis.
12
**TWO HANDS CHARITABLE TRUST**
**NOTES TO THE GROUP FINANCIAL STATEMENTS (continued)**
**FOR THE YEAR ENDED 31 OCTOBER 2022**
## **1. ACCOUNTING POLICIES (continued)**
## **Fund Accounting**
General funds are unrestricted funds which can be used at the discretion of the Trustees in accordance with the objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes.
## **Financial instruments**
The charity principal financial instruments comprise cash, short term deposits and trade creditors that arise, directly from its operation. The main purpose of these financial instruments is to fund the charity's operation as well as working capital, liquidity and invest surplus funds.
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost. Were contractual obligations of financial instruments are equivalent similar to debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
## **Critical accounting estimates and judgements**
In preparing these financial statements, management has made judgements, estimates and assumptions that affect the application of the charity’s accounting policies and the reported assets, liabilities, income and expenditure and the disclosures made in the financial statements. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
## **Tangible fixed assets (see note 2)**
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on the number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
13
**TWO HANDS CHARITABLE TRUST**
**NOTES TO THE GROUP FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 OCTOBER 2022**
|**2.**
**TANGIBLE FIXED ASSETS - GROUP**
**Land and**
**Building**
**£**
**COST**
Additions
218,133
As at 31 October 2022
218,133
**DEPRECIATION**
Charge for the year
-
As at 31 October 2022
-
**NET BOOK VALUE**
As at 31 October 2022
218,133
=========
=
The Charity does not own any tangible fixed assets. The property is owned by the subsidiary organisation.
**2.**
**PROGRAMME RELATED**
**INVESTMENTS – GROUP AND**
**CHARITY**
**Land and**
**Building**
**£**
**COST**
Additions
1,300,000
As at 31 October 2022
1,300,000
**DEPRECIATION**
Charge for the year
13,000
As at 31 October 2022
13,000
**NET BOOK VALUE**
As at 31 October 2022
1,287,000
=========
=|**Total**
**£**
218,133
218,133
-|**Total**
**£**
218,133
218,133
-|
|---|---|---|
|||218,133
-|
||-
218.133
========
**Total**
**£**
1,300,000
1,300,000
13,000||
||13,000
1,287,000
========||
The Charity owns the land and building classified as Programme Related Investments.
No depreciation has been provided on the land element.
14
**TWO HANDS CHARITABLE TRUST**
**NOTES TO THE GROUP FINANCIAL STATEMENTS (continued)**
**FOR THE YEAR ENDED 31 OCTOBER 2022**
## **3. INVESTMENTS AND RESULTS FROM TRADING ACTIVITIES OF SUBSIDIARY**
## **Shares in subsidiary undertakings**
The charity owns 100% share of Mehfile-e-Ali Foundation which is a Not-for-Profit organisation incorporated in the Hague, Netherlands.
The subsidiary owns a property that will be used for charitable programmes.
## **INCOME AND EXPENDITURE - SUBSIDIARY**
|**Period ended**
**31 October 2022**
**£**
Income
19,023
Expenditure
(21,429)
Deficit for the year
(2,406)
=========
**BALANCE SHEET**
**2022**
**Tangible fixed assets**
**£**
218,133
**Current assets**
Cash
4,437
**Net Assets**
222,570
=========
**Capital and reserves**
222,570
=========
**4.**
**CREDITORS: amounts falling due within**
**one year**
**Group**
**2022**
**£**
Accruals
11,200
11,200
========
=|**Charity**
**2022**
**£**
11,200
11,200
=======|
|---|---|
15
**TWO HANDS CHARITABLE TRUST**
**NOTES TO THE GROUP FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 OCTOBER 2022**
## **5. EXPENDITURE**
|**EXPENDITURE**||||
|---|---|---|---|
||**Grants**|**Support**|**Total**|
||**funding**|**costs**|**2022**|
||**£**|**£**|**£**|
|**Donations and grants paid**||||
|Grants funding of activities|1,891,665||1,891,665|
|Support costs||71,284|71,284|
||1,891,665|71,284|1,962,949|
||========|========|========|
Support costs have been allocated on the basis of the actual costs incurred for each category.
## **6. SUPPORT COSTS**
|
Property Maintenance
Depreciation
Governance costs
-
Legal and professional fees
-
Auditor’s fees (including VAT)
|**Total**
**2022**
**£**
21,429
13,000
29,655
7,200
71,284
========|
|---|---|
16
## **TWO HANDS CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THEPERIOD ENDED 31 OCTOBER 2022**
**7. GRANTS PAYABLE 2022 £** Grants to institutions: 1,891,665 Grants to institutions: Orison Charitable Trust 249,505 World federation of KSIMC 484,017 KSIMC 1,063,843 International Islamic Link 30,000 Lady Fatemah Charitable Trust 20,000 Who is Hussain 14,000 Al Sadiq Academy 12,000 KSI Hydery 5,000 The Imam Hussein Foundation 5,000 LSHAF 5,000 Anjumane Jaffariya 1.300 Bustan-E-Zahra Association 1,000 British Heart Foundation 1,000 Total grants **1,891,665**
## **8. STAFF COSTS**
There were no staff employed by the charity.
The trustees are deemed to be the key management personnel and are not remunerated for their services to the charity.
## **9. STATUS**
The entity is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission in England and Wales on 4 June 2021.
17
**TWO HANDS CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THEPERIOD ENDED 31 OCTOBER 2022**
## **10. GROUP FUNDS – CURRENT PERIOD ENDED 31 OCTOBER 2022**
|General funds
Designated funds – Mehfile
Designated Funds –
Programme Related funds
**Unrestricted funds**
**TOTAL OF FUNDS**
=|**Income**
**Expenditure**
**£**
**£**
1,993,987
(1,918,826)
218,133
1.300,000
(13,000)
**-----------------------**
**---------------------**
3,512,120
1,931,826
3,512,120
1,931,826
==========
===========
=|**Carried**
**Forward**
**£**
75,161
218,133
1,287,000
**---------------------**
1,580,294
1,580,294
==========|
|---|---|---|
The designated funds relate to property owned by the subsidiary, Mehfile-e-Ali Foundation.
Programme Related Investments – These designated funds relate to a property, Battlers Wells farm, donated to the charity and used for charitable purposes.
## **11. CHARITY FUNDS – CURRENT PERIOD ENDED 31 OCTOBER 2022**
|General funds
Designated funds
**Unrestricted funds**
**TOTAL OF FUNDS**
|**Income**
**£**
1,982,451
1,300,000
**----------------------**
3,282,451
3,282,451
========
|**Expenditure**
**£**
(1,911,728)
(13,000)
**--------------------**
1,924,728
1,924,728
========
|**Carried**
**Forward**
**£**
70,723
1,287,000
**------------------**
1,357,723|
|---|---|---|---|
||||1,357,723
========|
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## **TWO HANDS CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THEPERIOD ENDED 31 OCTOBER 2022**
## **12. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS**
|**Fund balances at 31 October 2022:**
Tangible fixed assets
Programme Related Investments
Current assets (liabilities)
At 31 October 2022|**Designated**
**General**
**Funds**
**Funds**
**£**
**£**
218,133
1,287,000
-
75,161
1,505,133
75,161
|**Total**
**2022**
**£**
218,133
1,287,000
75,161
1,580,294|
|---|---|---|
## **13. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS**
The Charity received donations of £1,982,451 from Holbud Limited. A trustee, Hasnain Merali, is a director and shareholder of Holbud Limited.
There are no other related party transactions to report in the current period ended 31 October 2022.
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