ANNUAL REPORT 2021/22
Chadwell Heath, Romford Essex. RM6 4AP
akramaid.org
+44 7958 291 292
@info_akramaid
Prepared by Mohammed Samiuddin Presented to The Board of Trustees Introduction Pages 3-4 Our Work Pages 5-8 Ramadan Page 9 Zakat, Fidyah & Fitrana Pages 10-11 Sadaqah Page 12 U.K Projects Page 13 Trustee Report Pages 14-29 Message from Chair Page 21 Financial Activity Pages 14-29
continues to focus in the area of education, healthcare, livelihoods and emergency relief. Our strategic geographical focus remains in Eastern Asia, Western Asia, Africa and the UK. We aim to respond to disasters wherever they occur and alhamdulillah our work continues to grow where partnerships are developed.
"We are dedicated to helping all those in need"
Our journey started in October 2020 when a group of close friends and
dedicated individuals, who over the years sacrificed their family time to assist in helping multiple charities by supporting, fundraising, cooking and volunteering – merged into a team and decided that we wanted to take our volunteering to the next level.
We work independently as well as in partnership with other charities and local organisations that specialise in humanitarian aid work at local and
international levels. We are passionate and keen to serve humanity without distinguishing between race, religion, gender or background.
Akram is an arabic word, when translated means “Most Generous"
We formed as “Akram Aid” with the responsibilities of Trustees and to continue as volunteers. Our Team do not take any wages or remunerations.
" Where Your Generosity Builds A Hopeful Future "
Akram Aid seeks a world where poverty and suffering have been overcome and people live with dignity.
Our Mission: We aim to make an immediate and lasting improvement to the lives of people affected by the poverty, war and disaster. In this mission, our work for the alleviation of poverty is carried out through selectively chosen activities: Education: by improving access to learning;
Healthcare: by improving access to quality of healthcare;
Livelihoods: promoting income generation at household level to improve economic wellbeing;
Emergency relief: provision of food, water, medicines and shelter in times of crisis;
Qurbani and Aqeeqah: helping people celebrate these festivals; Widows & Orphans: improving their welfare;
Water & Sanitation: improving access to clean water and improve sanitation.
Our Values: Equality
Respect: We affirm the dignity, potential
and contribution of participants, donors, partners, staff and volunteers.
Integrity: We act consistently with our mission, being honest and transparent in what we say and do.
Partnerships: We work together effectively to serve the larger community.
Quality: We constantly challenge ourselves to the highest levels of learning and performance to achieve greater impact.
We believe the lives of all human beings are of equal value
‘The one who cares for an orphan and myself will be together in Paradise like this’ - Bukhari
In communities all throughout the Ummah, widows predominantly lead the most impoverished homes.
The most vulnerable demographic in the Ummah is still children without parents. Sadly, as conflicts spread and natural calamities worsen, the numbers of orphans are growing.
Sponsor a Widow / Needy family for just £50 a month to assist them with the running of their household, giving them freedom to spend the funds with independence - used to pay for food, school fees and any other outgoings.
Alhamdulillah, we currently have 8 families in both Bangladesh & Pakistan that are being sponsored by multiple donors, who have committed with ongoing monthly support.
No mother wants to see her children go hungry
2 x Masjids built in Gambia
5 x Waterwells in Gambia
2 x Handpumps in Sierra Leone
Clean accessible water is needed to survive.
Sadaqah - Nutrient-dense, hot meals to the millions living across Uganda
Unfortunately, many people do not have enough access to clean water, which leads to hundreds of unnecessary deaths each year. Therefore, water has been provided to communities in Gambia & Sierra Leonne. in the form of hand pumps & wells.
Many rural Muslim communities do not have a dedicated place to practice. Masjids have been built in Gambia serving the community to ensure that the communal obligation of Islam is upheld.
Sacrifices of cattle are given on behalf of donors for their loved ones, are cooked and distributed as hot meals to the destitute.
“Whoever builds a mosque for Allah, Allah will build for him a house like it in Paradise.”
“Which charity is best?” The Prophet SAW said, “A drink of water.”
More than ever before, communities around the world are in urgent need of clean and safe water for drinking, cooking and hygiene. Tubewells and Wudu stations have been built for communities, schools and orphanages in multiple locations in Bangladesh, Pakistan and India.
Beneficiaries are verified and vetted, to ascertain whether individuals qualify for support.
Donations helped us provide a Solar Package to rural areas in Pakistan in our "Light Up Their World" project that enabled us to give a battery pack, solar panel, socket, light and a fan to the needy
Bangladesh - 8 x Handpumps & 3 x Tubewells; Pakistan - 2 x Handpump, 2 x Tubewells & 2 x with Wudu Station; India - 1 x Tubewell with Wudu Station; were built last year & are currently being utilised.
'Surely from among the deeds that make Paradise incumbent is the feeding of a hungry Muslim' - Hakim
During cold nights Akram Aid have provided support to families across Yemen with winter blankets. Food shortages have also increased, leaving millions to face starvation. Hot meals and food parcels have been distributed to families that are suffering.
Over 80% of Gaza's population heavily rely on handouts for survival.
Thousands of families in Palestine have been left with little more than the most basic supplies due to the occupation, violence, unemployment and continued poverty. Akram Aid frequently provide fresh bread from our local delivery partner at a bakery, to the impoverished civilians of Gaza. Food parcels have also been provided to needy families across the Gaza strip.
We have successfully carried out slaughter and delivered Udhiyah meat during the month of Eid Ul Adha to the impoverished and needy in Gaza, Syria and Yemen.
Over 100 Food Parcels were handed out in Yemen and over 125 Food Parcels in Gaza
Chapters Foodbank, Goodmayes
Your generous donations have enabled us to supply Chapters Foodbank in Goodmayes with essentials. Akram Aid has championed in building relationships with local businesses to provide regular donations to support the Foodbank too.
SHFAA, Advisory Services
We are also proud of our collaboration with Serving Humanity Foundation to form SHFAA - an Advisory
Charks, Chadwell Heath
We formed Charks with Br. Mohamad in another collaboration to deliver Youth Activities for the local community with free Football Sessions in the Park and Indoor Activities - Table tennis, Pool, Foosball and Ps5 on the big screen on a weekly basis at a local community centre in Chadwell Heath.
Recite With Us, Milton Keynes A special thank you to Qari Armaan from "Recite With Us", our first sponsor who has been instrumental in providing us support to cover overheads. A MASSIVE "Jazākumullāhu khairan" / Thank you
to all of the local businesses wishing to remain anonymous, for supporting us with fundraising and their generous donations
'Surely from among the deeds that make Paradise incumbent is the feeding of a hungry Muslim' - Hakim
Akram Aid was able to provide households across Palestine, Rohingya and Yemen with essential food supplies through our network of volunteers and delivery partners.
Throughout this blessed month, our brothers and sisters received the basic necessities like rice, flour, sugar, milk powder, oil, pasta, sauce, beans, tea and dates in a Food Parcel for up to one month.
Gaza 2021/22 Food Parcels Fresh Bread Rohingya 2021 Food Parcels Hot Meals Yemen 2022 Food Parcels Hot Meals
We provided Hot meals at Iftar that included rice with chicken, bread, dates and water.
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Hot Meals
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We planted 363 Olive Trees in Gaza, Palestine and also
distributed over 300 bags of fresh bread, baked daily in packs of 50, delivered to needy families and individuals.
“Indeed, Zakat are only [to be given] to the poor and the indigent, and to those who work on administering it, and to those whose hearts are to be reconciled, and to free those in bondage, and to the debt-ridden, and for the cause of Allah, and to the wayfarer. This is an obligation from Allah and Allah is all-knowing, allwise.” {Al-Qur’an, 9:60}
According to the practice of the Prophet (SAW), his companions as well as the most reliable ahadith - "when you contribute Zakat, this Zakat is paid (out) in cash".
Whether the money is utilised for shelter, food, paying off debts, or anything else, it is entirely up to the receiver; it is not our concern how the person above uses the money.
Egypt Pakistan Sana, Yemen Gaza, Palestine Rohingya Camps, Bangladesh
Akram Aid strives to ensures that donations are given to those who fit the aforementioned categories in the listed countries.
Zakat is the compulsory giving of a set proportion of one’s wealth to charity.
Fidyah, is for people who have a valid reason for not fasting. If you cannot fast in Ramadan due Fidyah to a valid reason, then you must make up for missed fasts after Ramadan, once you are able to do so. If you are unable to make up for missed fasts due to a long-term illness or old age for example, then you need to pay Fidyah to provide a meal for another.
We have distributed Fidyah in Bangladesh and in Yemen too.
Fitrana
Fitrana, is the compulsory charity paid by every Muslim adult and child before the end of Ramadan. It is paid as early as possible, so that food can be distributed to the poor in time for Eid. Fitrana has been distributed both in the Rohingyan Camps and in Sana.
We distributed Udhiyah / Qurbani for Donors during Eid Ul Adha to the needy in Afghanistan, Bangladesh, Pakistan and Africa too.
Media - photo/video evidence is provided for all A 'Sadaqah' sacrifice is a voluntary works done. sacrifice performed for the sake of Allah either for yourself or on behalf of someone else. U g a n A d q a e Our Sadaqah Sacrifice service e involves the sacrifice of a goat q distributed to the most needy with rice in the form of a hot a meal, offered in Africa & Asia. h We also provide the option to offer an Aqeeqah or sacrifice for a newborn child. An Aqeeqah involves the sacrifice of one goat for a girl and two goats for a boy, with the meat being distributed to disadvantaged local communities in the chosen country of the sacrifice by the donor.
AKRAM AID
(Charity Registration Number: 1195519)
TRUSTEES’ ANNUAL REPORT, STRATEGIC REPORT & FINANCIAL STATEMENTS FOR THE PERIOD FROM 16 AUGUST 2021 to 31 DECEMBER 2022
GLADSTONE & CO. ACCOUNTANTS 75 CREIGHTON AVENUE EAST HAM, LONDON E6 3DT
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GENERAL INFORMATION
page 15 Page 16
STRATEGIC REPORT Pages 17 -21 p 16
STRUCTURE, GOVERNANCE AND MANAGEMENT p 17-18 Page 17
STATEMENT OF TRUSTEES’ RESPONSIBILITIES p 19-20 Page 18-19
COMPLIANCE & INCOME GENERATION p 19-20 Page 20
ADMIN & MESSAGE FROM CHAIR p 19-20 Page 21
ACTIVITIES - UK & ABROAD Page 22
REPORT OF THE INDEPENDENT EXAMINER Pages 23-24
STATEMENT OF FINANCIAL ACTIVITY Page 25
STATEMENT OF FINANCIAL POSITION Page 26
NOTES TO THE FINANCIAL STATEMENTS Pages 27-29
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Registered Name: Akram Aid Charity Number: 1195519 Registered Address: Sherman Gardens Romford Essex RM6 4AP
Armaan K Ahmed (Chairman) Mohammed S Qulzam (Secretary) Saima A Sadiq (Fundraiser) Humaira Ahmed (Media Administrator) Bushra Ali (Volunteer Treasurer)
Banker: Natwest Bank 27 High Road Chadwell Heath, Romford. RM6 6QD
Independent Examiner: Gladstone & Co. Accountants 75 Creighton Avenue, East Ham, London. E6 3DT
OBJECTS AND PUBLIC BENEFIT
The objects of the Charity
- To relieve financial hardship, distress and suffering among poor people, widows, orphans, victims of natural disasters and other people in need by means of, but not exclusively, making grants for providing or paying for items, equipment, services, and facilities, including the provision of food, clean water and
clothing, medical treatment and costs for attending school for the benefit of the said persons;
- Promote such other charitable purposes as may from time to time be determined
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is controlled by its governing document, a Constitution and is registered with the Charity Commission as a Charitable Incorporated Organisation
DUE DILIGENCE
Everything the charity does is underpinned by due diligence and risk management from checking countries in which it works in, organisations, individuals that are worked with and work in the field and always considering the reputation of the charity.
STATEMENT OF TRUSTEES
RESPONSIBILITIES The trustees of Akram Aid are responsible for preparing the Trustees' Annual Report including the Strategic Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice)
Charities Act 2011 requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Charity and of the incoming resources and applicati0n of resources, including the income and expenditure (of the charity for that period).
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP 2015 (FRS102);
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make judgments and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the goingconcern basis unlessit is not appropriate to assume that the charity will continue in operation
STATEMENT OF TRUSTEES RESPONSIBILITIES
The Board of Trustees is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity, and to enable lso responsible for s afeguarding the assets of the company and taking reasonable steps for the prevention and detection of fraud and other irregularities.
Each of the persons who is a trustee at the date of approval of this report confirms that:
there is no relevant information of which the charity’s independent examiners are unaware;
- they have taken all the steps that they ought to have taken to make themselves aware of any relevant financial information and to establish that the charity's aware of that information.
The Trustees' Annual Reportand the Strategic Report were approved by the Boardof Trustees on 27 March 2023 and signed on its behalf by:
Armaan K Ahmed Chairman
RISK MANAGEMENT
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The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate
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controls are in place to provide reasonable assurance against fraud and error.
COMPLIANCE
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Continue to review policies and procedures to deliver a stronger governance structure.
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Establish a robust induction process and create an annual training program for Trustees.
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Plan for succession of trustees and members, build capacity and improve processes to increase diversity, ensure a broader range of skills and improve compliance.
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Carry out regular reviews of Sponsored families to ensure continued eligibility.
FUNDRAISING & INCOME GENERATION
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Maintain a net income of the charity at a sustainable £100k per annum.
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Invest in making better use of Social Media streamsthrough digital fundraising
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Explore funding opportunities to develop and grow current Youth services
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Develop further support for charitable giving to good causes
ADMINISTRATION
We operate on a 100% Donation Policy. All our work is carried out by experienced and dedicated volunteers.
We work alongside other charities that share the same Vision and Ethos.
Akram Aid covers the Administration, running and related costs through:
Gift aid reclaimed from HMRC
Donations received specifically for running costs.
Money earned from donations of items / charity sales. Specific fundraisers to raise funds for running of charity.
MESSAGE FROM CHAIR OF THE BOARD OF TRUSTEES
Dear Friends, Donors, Supporters and Volunteers,
After thanking the Almighty giving us the opportunity to serve humanity, I have the pleasure to inform you on Akram Aid's progress 2021-22. Your support and generosity have made a significant global impact on the lives of many in need. As the world continues to face numerous humanitarian crises, our focus remains on providing vital aid, food, water, shelter, financial assistance, Zakat and education to those that need it the most, in all our covered locations.
A heartfelt thank you to our donors, supporters, volunteers, partners and my team. Please continue to support us in all ways.
TO OUR DONORS
"We are deeply grateful for your unwavering support and commitment to our mission. Your generosity has made a tangible and meaningful impact on the lives of those in need, and for that, we are eternally thankful. Thank you for your continued efforts to make a difference in the world."
Gambia - Water Well x5 Gambia - Masjid x2 Gaza - Bakery Project Sierra Leone - Hand Pump x2 Uganda - Animal Sacrifice x16 Uganda - Hotmeals x60 Yemen – Zakat Yemen - Fidya/Fitrana Yemen – Foodparcels x101 Yemen - Iftar Meals x280 Qurbani – Misc Countries x38
ABROAD / OVERSEAS
Bangladesh - Tube Well x3 Bangladesh - Hand Pump x8 Bangladesh– Monthly Family Support x3 Pakistan - Handpump x2 Pakistan - Wudhu Station x2 Pakistan - Tube Well x2
Pakistan - Orphanage Education Pakistan - Solar Project x12 Pakistan - Orphan Weddings Pakistan - Monthly Family Support x5 Pakistan - Emergency Floods
UNITED KINGDOM
Romford - Charks Youth Activities Goodmayes - SHFAA Advisory Service Goodmayes - Foodbank Support Chadwell Heath - Fitya Centre
INDEPENDENT EXAMINER STATEMENT
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
-
•the accounting records were not kept in accordance with section 130 of the Charities Act;or
-
the accounts did not accord with the accounting records; or
• the accounts did not comply with the applicable requirements concerning the form and content of 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 an 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 accounts to be reached.
RELATED PARTY TRANSACTIONS
None of the members of the Akram Aid board or parties related to them has undertaken any transactions with “Akram Aid” or received any benefit from the charity in payment or kind. Board members received no honoraria or emoluments in the year.
REPORT OF THE INDEPENDENT EXAMINER
TO THE TRUSTEES OF AKRAM AID ON ACCOUNTS FOR THE PERIOD FROM 16 AUGUST 2021 TO 31 DECEMBER 2022
I report on the accounts which are set out on pages 24 to 30.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (“the Act”).
The charity’s trustees consider that an audit is not required for this year under section 144 of the 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 Charities Act,
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to follow the applicable Directions given by the Charity Commission (under section 145(5)(b) of the Act, and
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to state whether particular matters have come to my attention
Basis of independent examiner's statement
My examination was carried out in accordance with 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 the 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 material matters have come to my attention which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
• the accounts did not comply with the applicable requirements concerning the form and content of 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 an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn into this report in order to enable a proper understanding of
the accounts to be reached.
M ohammed S Quadri Institute of Financial Accountants 75 Creighton Avenue. East Ham, London E6 3DT
Date: 10th July 2023
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD FROM 16 AUGUST 2021 TO 31 DECEMBER 2022
| Donations Website Accountancy Zoom annual subscription Stripe Transaction Fees Paypal Transaction Fees Global Web Pay Transaction Fees Water Project Zakat - Yemen Youth Project Qurbani Project Orphan Project Monthly Beneficiaries Project Masjid Construction Project Ramadan Iftar & Food Project Solar Project Wedding Beneficiary Project Flood Relief - 991 3,661 1,200 1,200 99 76 17 78 - Restricted funds £ 9,050 8,563 50 3,811 3,250 5,334 16,000 4,912 1,440 218 1,560 3,940 Total Total NET INCOME / (EXPENDITURE) RECONCILIATION OF FUNDS: Funds brought forward TOTAL FUNDS CARRIED FORWARD INCOME AND ENDOWMENTS FROM: 3,661 2,670 991 58,128 54,188 3,940 Charitable activities: Administration expenses: Unrestricted funds £ Notes 58,128 EXPENDITURE ON: |
Donations Website Accountancy Zoom annual subscription Stripe Transaction Fees Paypal Transaction Fees Global Web Pay Transaction Fees Water Project Zakat - Yemen Youth Project Qurbani Project Orphan Project Monthly Beneficiaries Project Masjid Construction Project Ramadan Iftar & Food Project Solar Project Wedding Beneficiary Project Flood Relief - 991 3,661 1,200 1,200 99 76 17 78 - Restricted funds £ 9,050 8,563 50 3,811 3,250 5,334 16,000 4,912 1,440 218 1,560 3,940 Total Total NET INCOME / (EXPENDITURE) RECONCILIATION OF FUNDS: Funds brought forward TOTAL FUNDS CARRIED FORWARD INCOME AND ENDOWMENTS FROM: 3,661 2,670 991 58,128 54,188 3,940 Charitable activities: Administration expenses: Unrestricted funds £ Notes 58,128 EXPENDITURE ON: |
Donations Website Accountancy Zoom annual subscription Stripe Transaction Fees Paypal Transaction Fees Global Web Pay Transaction Fees Water Project Zakat - Yemen Youth Project Qurbani Project Orphan Project Monthly Beneficiaries Project Masjid Construction Project Ramadan Iftar & Food Project Solar Project Wedding Beneficiary Project Flood Relief - 991 3,661 1,200 1,200 99 76 17 78 - Restricted funds £ 9,050 8,563 50 3,811 3,250 5,334 16,000 4,912 1,440 218 1,560 3,940 Total Total NET INCOME / (EXPENDITURE) RECONCILIATION OF FUNDS: Funds brought forward TOTAL FUNDS CARRIED FORWARD INCOME AND ENDOWMENTS FROM: 3,661 2,670 991 58,128 54,188 3,940 Charitable activities: Administration expenses: Unrestricted funds £ Notes 58,128 EXPENDITURE ON: |
Donations Website Accountancy Zoom annual subscription Stripe Transaction Fees Paypal Transaction Fees Global Web Pay Transaction Fees Water Project Zakat - Yemen Youth Project Qurbani Project Orphan Project Monthly Beneficiaries Project Masjid Construction Project Ramadan Iftar & Food Project Solar Project Wedding Beneficiary Project Flood Relief - 991 3,661 1,200 1,200 99 76 17 78 - Restricted funds £ 9,050 8,563 50 3,811 3,250 5,334 16,000 4,912 1,440 218 1,560 3,940 Total Total NET INCOME / (EXPENDITURE) RECONCILIATION OF FUNDS: Funds brought forward TOTAL FUNDS CARRIED FORWARD INCOME AND ENDOWMENTS FROM: 3,661 2,670 991 58,128 54,188 3,940 Charitable activities: Administration expenses: Unrestricted funds £ Notes 58,128 EXPENDITURE ON: |
9,050 8,563 50 3,811 3,250 5,334 16,000 4,912 1,440 218 1,560 2022 Total funds £ 61,789 61,789 1,200 1,200 99 76 17 78 |
|---|---|---|---|---|
| 3661 | 58128 | |||
| , | , | |||
| 1,200 1,200 99 76 17 78 |
9,050 8,563 50 3,811 3,250 5,334 16,000 4,912 1,440 218 1,560 |
|||
| 2,670 | 54,188 | 56,858 | ||
| - 991 |
- 3,940 |
- 4,931 |
||
| 991 | 3,940 | 4,931 | ||
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2022
| Cash at bank and in hand Unrestricted Restricted TOTAL FUNDS NET ASSETS FUNDS OF THE CHARITY Notes Unrestricted funds £ 991 991 Restricted funds £ 3,940 3,940 |
Cash at bank and in hand Unrestricted Restricted TOTAL FUNDS NET ASSETS FUNDS OF THE CHARITY Notes Unrestricted funds £ 991 991 Restricted funds £ 3,940 3,940 |
Cash at bank and in hand Unrestricted Restricted TOTAL FUNDS NET ASSETS FUNDS OF THE CHARITY Notes Unrestricted funds £ 991 991 Restricted funds £ 3,940 3,940 |
991 3,940 2022 Total funds £ 4,931 4,931 |
|---|---|---|---|
| 991 | 3940 | ||
| , | |||
| 4,931 |
The financial statements were approved by the Board of Trustees and authorised for issue on 10th July 2023 and were signed on its behalf by:
M Qulzam - Trustee
A Ahmed - Trustee
The notes on pages 27 to 29 form part of the financial statements
1. ACCOUNTING POLICIES
(a) Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at fair value.
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
Fund’s structure
Where there is a legal restriction on the purpose to which a fund may be put, the fund is classified either as:
• a restricted fund or
• an endowment fund.
Restricted funds are those where the donor has provided for the donation to be spent in furtherance of a specified charitable purpose.
Akram Aid’s restricted funds tend to result from appeals for specified purposes.
Endowment funds arise when the donor has expressly provided that the gift is to be invested in and only the income of the fund may be spent. These funds are sub analysed between those where the trustee has the discretion to spend the capital (expendable endowment) and those where there is no discretion to expend the capital (permanent endowment).
The trustee decides each year how much of that return is released to income for spending and how much is retained for investment. The allocation is made on an equitable basis to balance the need to fund current projects as well as to invest returns for the future.
Those funds which are neither endowment nor restricted income funds, are unrestricted income funds which are sub analysed between designated (earmarked) funds where the trustee has set aside amounts to be used for specific purposes or which reflect the nonbinding wishes of donors and unrestricted funds which are at the trustee’s discretion, including the general fund which represents the charity’s reserves.
(b) Income resources
All incoming resources are recognised once the charity has entitlement to the resources, it is probable (more likely than not) that the resources will be received, and the monetary value of incoming resources can be measured with sufficient reliability. Where there are terms or conditions attached to incoming resources, particularly grants, then these terms or conditions must be met before the income is recognised as the entitlement condition will not be satisfied until that point. Where terms or conditions have not been met or uncertainty exists as to whether they can be met then the relevant income is not recognised in the year but deferred and shown on the balance sheet as deferred income.
2. DONATIONS AND LEGACIES
Donations received for: £ Masjid Construction Project 16,110 Monthly Beneficiaries Project 3,866 Orphan Project 3,255 Qurbani Project 3,761 Ramadan Iftar & Food Project 6,049 Solar Project 1,440 Water Project 6,620 Zakat – Yemen 7,983 Other Miscellaneous 12,705 61,789
Akram Aid works with various affiliate partners with our network of volunteers in various countries. Affiliate partners are registered charities carrying out charitable activities.
During the period ended 31st Dec 2022 a total of £56,858 was spent using the below partners:
| Ntk Pt | £ | £ | % | ||
|---|---|---|---|---|---|
| ewor arners | |||||
| Unite 4 Humanity Miscellaneous Serving Humanity Fitya Youth Centre |
56,858 50,166 6,092 550 50 |
88% 11% 1% 0% |
|||
| 56,858 | 100 % |
3. PRE REGISTRATION ACTIVITIES
Charitable activities commenced from 2020 during the difficult COVID-19 period but only registered on 16th August 2021. The financial transactions relating to pre- registration period have not been included in the financial statements on page 11 and 12. The following activity was relevant during period from 27th January 2020 to 15th August 2021:
£
| Surplus Donations Received Eye Appeal Family Support Monthly Beneficiaries Mosque Build Project Olive Tree Project Prisoner Integration Project Ramadan & Hot Food Sewing Machine Project Solar Project Water Project Wedding Project Zoom Subscription Qurbani Project Website Hosting Education Project |
46,258 (4,190) (3,589) (7,850) (156) (1,452) (350) (9,903) (100) (60) (8,551) (2,130) (243) (4,776) (97) (100) |
|---|---|
| 2,711 |
4. RELATED PARTY TRANSACTIONS
None of the members of the Akram Aid board or parties related to them has undertaken any transactions with “Akram Aid” or received any benefit from the charity in payment or kind. Board members received no honoraria or emoluments in the year.