REGISTERED COMPANY NUMBER: CE026465 (England and Wales) REGISTERED CHARITY NUMBER: 1195538
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
FOR
NAZAR FATTIMA MEMORIAL FOUNDATION
Shareef & Co Chartered Accountants 18 - 22 Stoney Lane Yardley Birmingham West Midlands B25 8YP
NAZAR FATTIMA MEMORIAL FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
NAZAR FATTIMA MEMORIAL FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The relief of sickness and the preservation of health, in particular but without limitation, to people residing in Pakistan and who are suffering from poverty or financial hardship through the provision of medical camps, treatment, and equipment, and through providing education or health-related matters to the general public. To relieve poverty in the United Kingdom through the provision of Grants, Items, and Services to individuals in need.
Significant activities
The main activities accounted for the time period of the accounts was the 'Langhar Food Service', and 'Clean Water Project' which were delivered in Pakistan on a free basis for public benefit.
It is to combat food poverty, and its aim is to do so by giving those whom attend a meal. As well as tackling the problem of dirty water by providing clean and safe drinking water to families through Handpumps and Solar Wells.
Public benefit
The trustees have had regard to the guidance issued by the CC on public benefit, the food service and water projects provided by the Charity during this period falls within public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year ended 31 March 2023, Nazar Fattima Memorial Foundation has successfully run a 'Langhar Food Service' in Pakistan.
This food service benefits its beneficiaries by enabling them to be provided with a meal, where they may not otherwise have the access to do so.
It is attended by 200 people on a weekly basis.
The Foundation also implemented 25 Hand pumps and 2 Solar Water Wells across Sindh, Pakistan.
FINANCIAL REVIEW
Financial position
The charity raised a total of £46,338 in donations in the year to 31 March 2023 (2022 : £7,459). Total expenditure in the year totalled £45,147 (2022 : £704), giving a surplus of £1,391 (2022 : £6,755).
Total reserves as at 31 March 2023 were £8,146 (2022 : £6,755).
Principal funding sources
The charity's principal source of funds is through fundraising events.
Reserves policy
Nazar Fattima Memorial Foundation provides Aid in various forms. It's beneficiaries are mainly in Pakistan, and funding streams are through fundraising events.
The rationale for our reserve policy, would be specifically for our Langhar Food Service and would mitigate any gaps in funding between future events.
The reserve policy is in place to mitigate any unforeseen circumstances in the form of costs, as well as fluctuations in exchange rate in currency,
The level of reserves is set at £500, as we deem this amount adequate enough should we have any shortfalls in funds. This policy will be reviewed yearly, and on an event by event basis.
Page 1
NAZAR FAlMA MEMORJAL Fouf4DATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 STRUCTURE. GOVERNANCE AND MANAGEMErfr Covernlttg document The charity is controlled by its 8QV¢rnin8 dwurn¢llL a dcfd of trn5t. and ¢on$titut¢$ a limited ¢ompwy, limited by 8uarantee. as IkfLn¢d by th¢ C'ompanies A¢t 2006. Charlty ¥*n$tlludon The Charity 15 a CIO, re&1¢[¢d C¥)mpanies House atsj the Charity &)nJmi$gion. REFEREL¥CE AND ADMINISTRATIVE DETAIIS Regtstered Company number CE026465 (EJJ8Jand and Wales) Registered Charity Dumber 1195538 Reglstered ofllce 56 St Johns Road SIouBh Berkshir¢ SL2 5EZ Trnste¢• Mr Mohammed Zish8n Afsar Ms Yasmin Bibi - Afsar Chair Miss Tahmeena Tariq CompaDy Secretary "Ss TahTneena Tariq kndependent mIner Sh&reef & Co Chartered A¢¢ountants 18 - 22 Stoney Laae Yatdley Binnin8ham West 'dIad$ B25 8YP BkerS Cushplus Bank Cottons Centre Cottons Lane London SE12 Approvcd by older ofthe trJard of tnkns on 15 Mch 2024 and Sied on its khalf by.. Ms Yasmin Bibi- AfsaT- TTUSte¢ Page 2
lDEPENDENT EXAMINER'S REPORT TO TEIE TRUSTEES OF NAZAR FA[MA MEMORIAL FOUIYDATION llldependent exxminer'$ roport to ihe trusttes of iNzr FHt2ma Memortal Foundgtion I'the Company'} I repori 10 Iht Lhariiy Iiust¢¢s on my txamiJiaiio# olihe dLwunts ot ilie Company ftsT the year cnded 31 MarLh 2023. Rtsp(knsibilitits and basis of rtpDrt As th¢ chai'ii> s trusiees vfihe Cuinpony land a150 lis dire08 for ch¢ purposes ofcompany lawl you are responsibl¢ for the preparation of the accounts iii auuordanL¢ with th¢ r¢quiiYrnents of ihe Companies AL1 2006 Ilhe 2006 Alt'l. Having saiisfied iiiyself That Iht accounts of the Coinwy are TK>I reqiiired to be audited under Part 16 0l.lhe 26 Act nd arc eligil)l¢ fnr iiidepei)1leiii examindlit)n, I retxirl in resi)etyi ofinv ex]I1(lon of your chartiv's acLQUlits as carried out un(l¢r S¢¢tion 145 ot. the Charit1¢5 Act 2011 ('the 2011 Acl'l. In Larr)'IDg (lul iiiy exailliljUn I have tollowed Ihe Dir¢clion5 given b> ihe Charity Coniniission under SeLiion 145151 (bl of the 2011 Aci. IndepeNdenl examiner's stAtemttht I liai'¢ ioiiiplertd 1115 exartiinaiion. I confirjn that no mailers have come lo my allentitsn in connection with theexaiiiination gIlA2 nie cali%¢ lo b¢li¢ve'. accounting r¢cord8 wer¢ not kept in r¢spixt of Ilit Coiiipanv r¢quired by Section 386 ot tlie 2006 Aci., or the acLoiinis do not acctjrd 1117 rhose recurds.- oi. the aLLtit5 do not comply 1th the g¢¢ounting reqiiirements ot. S¢¢titJn 396 of ihe ?006 Act otlier than any requireiijent thJi the accounts give a true and fair view V4hich 1% noi a matter ¢thn%idered as part of an ind¢pendent Ihe aLLounis huve not be¢n prcpared in acrordaiice w&th tlit niciliod5 and prinbiplLs uf th¢ Stat¢meni of R¢¢ommended Praclile for aLiounting ld rcporiijig bj Lharililg lapplicablc to chai'itics prepar&nE their accounts in accordanLe kniili Th¢ l inaiicial R¢i)oriii)g Siaiidard api?licabl¢ iii Ilie UK and R¢public of Ireland (FR£ 10?)). I havc no Lonc¢rns and have come aLmss no other matters in connebli(In with the ekaminaiitsn to which arteniion should b¢ drawn iji Ehis reFrf)n in oidu lo cnabl¢ a proper iijiderslanding vfih¢ aLcounis io be reached. Nactni Shorcef Sl)itLf & C Charter¥d ALcouiiianlS 18 22 SIDney Lunc YaTdlev Birmingham West Midlands B25 8YP 15 Mairh 2024 Page 3
NAZAR FATTIMA MEMORIAL FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| Period | ||||||
|---|---|---|---|---|---|---|
| 17.8.21 | ||||||
| Year Ended | to | |||||
| 31.3.23 | 31.3.22 | |||||
| Unrestricted | Restricted | Total | Total | |||
| fund | funds | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations and legacies | 37,526 | 8,812 | 46,338 | 7,459 | ||
| EXPENDITURE ON | ||||||
| Raising funds | 9,576 | - | 9,576 | - | ||
| Charitable activities | ||||||
| Charitable activities | 2,778 | 31,903 | 34,681 | 704 | ||
| Other | 690 | - | 690 | - | ||
| Total | 13,044 | 31,903 | 44,947 | 704 | ||
| NET INCOME/(EXPENDITURE) | 24,482 | (23,091) | 1,391 | 6,755 | ||
| Transfers between funds | 6 | (23,091) | 23,091 | - | - | |
| Net movement in funds | 1,391 | - | 1,391 | 6,755 | ||
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought forward | 6,755 | - | 6,755 | - | ||
| TOTAL FUNDS CARRIED FORWARD | 8,146 | - | 8,146 | 6,755 |
The notes form part of these financial statements
Page 4
NR FAThIMA MEMORIAL FOiITrIDATION BALANCE SHEET 31 MARCH 2023 2023 Total 2022 Totsl Unr¢stri¢ted Re$tri¢t¢d funds Note$ CURRENf ASSETS Cash at 1C 8336 8136 6.755 CREDITORS AnuntS fall8 due thin one year {6911) 16901 Tr4ET CURREIYT A&SETS TOTAL ASSETS LESS CURREr LIABILITIES 8.146 8.146 6.755 NET ASSETS Fuf4DS Unrestri¢ted funds TOTAL FUNDS The charitable comwry 15 cntitled to CmptIon frorn audit under ScGtiotL 477 of tbe Companie5 Act 20(b foT the year ended 31 Mar¢h 2023. The memixr$ have not Tequired the ¢ompany to obt8in an auth't of ils fin8n¢i81 stat¢ments for the y¢8r eThl¢d 31 March 2023 in a¢cordance Nith Section 476 of the Compe$ Act 2(KJ6. The trus$ a¢knowled8e their respxisibiliti¢$ for (al ensurin8 that the charitable company keeps accounting records that cornply with Sections 386 and 387 of tl Companies Act 20[ and preparing r]nancJal 5taternents wlllch ve a true and fair view of the 5tat6 of affairs of the charitable as at the end of each financial year and of its surplus or deficit for each fll)ancial year in accordance with the reqiiiTcTncnts ol Sections 394 and 395 aTLd which otlL¢TTh colnply with tlL¢ i¢quireTnfflts of the Companies A¢t 2[K relating to financial 51Atements. $0 far As appli¢abl¢ to the ctwitable company. (b) The8e fLnan¢ial statements have been pr¢wed in a¢¢ordan¢¢ th¢ proiision8 appli¢abl¢ to charitable Com[8ne8 Subject to the small companies r¢gime. The flnancial $tstements were awved by the Board of Tnth$ and authori8¢d for is$ue on 15 March 2024 and wu¢ Si8ned on its haIr by.. Ms Yasmin Bibi - Afsar- T¢[¢ Thr notes foTm Part of the5c financial 5tatement5 Pa8e 5
NAZAR FATTIMA MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The Charity is CIO, registered in England and Wales with Companies House and the Charity Commission.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| Period | ||
|---|---|---|
| 17.8.21 | ||
| Year Ended | to | |
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| Independent examiners fees | 690 | - |
continued...
Page 6
NAZAR FATTIMA MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the period ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the period ended 31 March 2022.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | Unrestricted | Restricted | Restricted | Total | Total | ||||
|---|---|---|---|---|---|---|---|---|---|
| fund | funds | funds | |||||||
| £ | £ | £ | |||||||
| INCOME AND ENDOWMENTS FROM | |||||||||
| Donations and legacies | 7,459 | - | 7,459 | ||||||
| EXPENDITURE ON | |||||||||
| Charitable activities | |||||||||
| Charitable activities | 704 | - | 704 | ||||||
| NET INCOME | 6,755 | - | 6,755 | ||||||
| TOTAL FUNDS CARRIED FORWARD | 6,755 | - | 6,755 | ||||||
| 5. | CREDITORS: AMOUNTS FALLING DUE | WITHIN | ONE | YEAR | |||||
| 2023 | 2022 | ||||||||
| £ | £ | ||||||||
| Accrued expenses | 690 | - | |||||||
| 6. | MOVEMENT IN FUNDS | ||||||||
| Net | Transfers | ||||||||
| movement | between | At | |||||||
| At 1.4.22 | in | funds | funds | 31.3.23 | |||||
| £ | £ | £ | £ | ||||||
| Unrestricted funds | |||||||||
| General fund | 6,755 | 24,482 | (23,091) | 8,146 | |||||
| Restricted funds | |||||||||
| Projects | - | (8,661) | 8,661 | - | |||||
| Pakistan pumps and floods | - | (14,430) | 14,430 | - | |||||
| - | (23,091) | 23,091 | - | ||||||
| TOTAL FUNDS | 6,755 | 1,391 | - | 8,146 |
continued...
Page 7
NAZAR FATTIMA MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
6. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 37,526 | (13,044) | 24,482 |
| Restricted funds | |||
| Projects | 3,705 | (12,366) | (8,661) |
| Pakistan pumps and floods | 5,107 | (19,537) | (14,430) |
| 8,812 | (31,903) | (23,091) | |
| TOTAL FUNDS | 46,338 | (44,947) | 1,391 |
| Comparatives for movement in funds | |||
| Net | |||
| movement | At | ||
| in funds | 31.3.22 | ||
| £ | £ | ||
| Unrestricted funds | |||
| General fund | 6,755 | 6,755 | |
| TOTAL FUNDS | 6,755 | 6,755 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | Movement | |
|---|---|---|---|---|
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 7,459 | (704) | 6,755 | |
| TOTAL FUNDS | 7,459 | (704) | 6,755 |
The Charity operated a number of small projects during the year to 31 March 2023. These have been combined under the heading of Projects.
The main activity of the Charity during the year was to provide hand pumps to alleviate flooding in Pakistan.
Transfers between funds
The transfers between funds represent transfers from unrestricted funds to finance projects, where specific donations received for the project were insufficient to cover total costs.
continued...
Page 8
NAZAR FATTIMA MEMORIAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
Page 9
NAZAR FATTIMA MEMORIAL FOUNDATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| Period | ||
|---|---|---|
| 17.8.21 | ||
| Year Ended | to | |
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 46,338 | 7,459 |
| Total incoming resources | 46,338 | 7,459 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Event costs | 9,576 | - |
| Charitable activities | ||
| Charitable activities | 34,568 | 704 |
| Support costs | ||
| Management | ||
| Bank charges | 113 | - |
| Governance costs | ||
| Independent examiners fees | 690 | - |
| Total resources expended | 44,947 | 704 |
| Net income | 1,391 | 6,755 |
This page does not form part of the statutory financial statements
Page 10