**Charity registration number 1196617**
## **AL ASR WELFARE FOUNDATION UK Annual Report and Financial Statements**
**01 May 2023**
## **AL ASR WELFARE FOUNDATION UK**
**Annual Report and Financial Statements**
**For the period started from 16 November 2021 to 01 May 2023**
||**Page**|
|---|---|
|Trustees' annual report|**1**|
|Independent examiner's report tothetrustees|**4**|
|Statementof financial activities|**5**|
|Statementof financialposition|**6**|
|Statementof cash flows|7|
|Notes to the financial statements|**8**|
## **AL ASR WELFARE FOUNDATION UK**
## **Trustees' Annual Report**
## **For the period started from 16 November 2021 to 01 May 2023**
The Trustees present their annual report and unaudited financial statements of the charity for the period started from 16 November 2021 to 01 May 2023.
## **Reference and administrative details**
**Registered charity name**
AL ASR WELFARE FOUNDATION UK
**Charity registration number** 1196617 **Principal address** 88 Fenham Hall Drive Newcastle upon Tyne NE4 9XA **The trustees** Nazia Ahmed Rabia Shah Yawar Awan Rumaisa Bashir (Resigned on 8 November 2023) Halima Begum (Joined on 29 Nov 2023) **Independent Examiner** Muhammad Yaqoob Desai Birmingham **Bankers** Lloyds Bank Newcastle upon Tyne
**-1-**
## **AL ASR WELFARE FOUNDATION UK**
## **Trustees' Annual Report** _**(continued)**_
## **For the period started from 16 November 2021 to 01 May 2023**
## **Structure, governance, and management**
Al Asr Welfare Foundation UK (“AAWF” or “the Charity”) operates as a Charitable Incorporated Organisation.
The Trustees of the Charity operate in accordance with the Governing Document of the Charity and are responsible for all matters pertaining to the governance and executive functions of the Charity. Trustees are not remunerated and do not claim expenses.
When setting objectives for the Charity and planning activities for the year, the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit. The Trustees are satisfied that the objectives and activities of the Charity are appropriate, relevant, and commensurate with advancing the Charity's stated goals.
## **Objectives and activities**
## **Objectives**
AAWF was established with the following specific aims,
1. The prevention or relief of poverty globally by:
a. Providing grants, items and services to individuals in need and/or charities, or other organisations working to prevent or relieve poverty,
b. Providing or assisting in the provision of education, training, healthcare projects and all the necessary support designed to enable individuals to generate a sustainable income and be self-sufficient.
2. To advance the Islamic faith for the benefit of the public including through providing financial support to projects providing places of worship, raising awareness, and understanding of Islam through lectures/courses, and carrying out missionary and outreach work.
## **Overview of Activities**
Since the registration of AAWF on 16 Nov 2021, the charity has commenced the process of establishing itself as a welfare orginisation by working towards its objectives.
AAWF achieved multiple milestones during the first year of its incorporation and was able to support the needy by providing,
- 1 . F ood packs for 200 families for the whole month of Ramadan,
- 2 . Iftar for more than 4,000 individuals during the holy month of Ramadan,
- 3 . Food for around 80 to 100 laborers on daily basis throughout the year since the start of this project,
- 4 . Funding for an entire year to support living, education, and healthcare expenses for 25 Orphans living in Mardaan, Pakistan, and
- 5 . Goodly loan to the needy, under our Qard-e-Hasanah project,
AAWF deploys a small but committed number of volunteers to spread awareness among people around them and educate them about the charity’s objectives.
**-2-**
## **AL ASR WELFARE FOUNDATION UK**
## **Trustees' Annual Report** _**(continued)**_
## **For the period started from 16 November 2021 to 01 May 2023**
Notwithstanding, The Trustees are satisfied that the stated objectives of the Charity are being fulfilled in a timely manner.
The administration of the Charity is conducted entirely by its Trustees for the express purposes of fulfilling the objectives, and critically, also ensuring that administration expenses are minimised.
## **Risk Management**
The Trustees acknowledge their responsibilities for establishing and adhering to a risk management system and are satisfied that appropriate systems and procedures are in place and under constant review for relevance and appropriateness.
## **Reporting Serious Incidents**
The Trustees are pleased to confirm that no instances occurred in the running or activities of the Charity which gave rise to any serious incidents or the requirement for reporting thereof.
## **Related Party Transactions**
There were no related part transactions in the conduct of the Charity's affairs for the period started from 16 November 2021 to 01 May 2023.
## **FINANCIAL REVIEW**
For the period under review, the total donation income amounted to £54,856.
Total resources expended on charitable activities were £40,297.
AAWF’s current commitments are the website creation and maintenance; this will be done through voluntary donation without availing the Charity’s resources.
## **PLANS FOR FUTURE PERIODS**
The Trustees will continue to consolidate the Charity’s position through fundraising and providing support to those in need, in furtherance of the stated objectives.
The Trustees will continue to run the administration of the charity to minimize the utilization of charity’s resources for anything other than above mentioned objectives. Once the website is up and running, the plan is to assign a trustee to handle its maintenance.
In addition to the above, the plan is to increase the collaboration with charities like Sameen Orphanage, Akhuwat Microfinance and Al Huda International to support the humanity.
The trustees' annual report was approved on 24 July 2023 and signed on behalf of the board of trustees by:
Yawar Awan Trustee
**-3-**
## **AL ASR WELFARE FOUNDATION UK**
## **Independent Examiner's Report to the Trustees**
## **For the period started from 16 November 2021 to 01 May 2023**
I report to the trustees on my examination of the financial statements of Al Asr Welfare Foundation UK ('the charity') for the period started from 16 November 2021 to period ended 01 May 2023
## **Responsibilities and basis of report**
As the trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the financial statements do not accord with those records; or
3. the financial statements do 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.
Muhammad Yaqoob Desai - FCCA Birmingham
Date: 24 July 2023
**-4 -**
## **AL ASR WELFARE FOUNDATION UK**
## **Statement of Financial Activities**
## **For the period started from 16 November 2021 to 01 May 2023**
|**Notes**
**Income from:**
Charitable activities
**4**
**Total income**
**Expenditure on:**
Charitable activities
**5**
**Total expenditure**
**Netincome/ Net movementinfunds**
**Reconciliation of funds**
Totalfunds brought forward
**Totalfunds carried forward**|**2023**
**Unrestricted**
**Funds**
**(£)**
**Total**
**Funds**
**(£)**
54,856
54,856|
|---|---|
||54,856
**54,856**|
||40,297
40,297|
||40,297
**40,297**|
|||
||14,559
**14,559**|
||-
-|
||14,559
**14,559**|
The statement of financial activities includes all gains and losses recognised in the period.
All income and expenditure derive from continuing activities.
The notes on pages 8 to 11 form part of these financial statements.
**-5 -**
## **AL ASR WELFARE FOUNDATION UK**
## **Statement of Financial Position**
**As at 01 May 2023**
|**Notes**
**Current assets**
Cash at bank and in hand
**Net current assets**
**Total assets less current liabilities**
**Funds of the charity**
Unrestricted funds
**Total charityfunds**
**8**|**2023**
**Total Funds**
**(£)**
14,559|
|---|---|
||14,559|
||**14,559**|
||14,559|
||**14,559**|
These financial statements were approved by the board of trustees and authorised for issue on 24 July 2023 and are signed on behalf of the board by:
Yawar Awan Trustee
The notes on pages 8 to 11 form part of these financial statements.
**-6-**
## **AL ASR WELFARE FOUNDATION UK**
## **Statement of Cash Flows**
**For the period started from 16 November 2021 to 01 May 2023**
|**Cash flow from operating activities**
Net income
Cash generated from operations
Net cash from operating activities
**Net increase in cash and cash equivalents**
**Cash and cash equivalents at beginning of year**
**Cash and cash equivalents at end of year**|**2023**
**(£)**
14,559|
|---|---|
||14,559|
||**14,559**|
||**14,559**
-|
||**14,559**|
**The notes on pages 8 to 11 form part of these financial statements.**
-7-
## **AL ASR WELFARE FOUNDATION UK**
## **Notes to the Financial Statements**
## **For the period started from 16 November 2021 to 01 May 2023**
## **1. General information**
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 88 Fenham Hall Drive, Newcastle upon Tyne, NE4 9XA, England.
## **2. Statement of compliance**
These financial statements have been prepared in compliance with FRS 102, ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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 (FRS 102)) and the Charities Act 2011.
## **3. Accounting policies**
## **Basis of preparation**
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **Going concern**
There are no material uncertainties about the charity's ability to continue.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub-classes: restricted income funds or endowment funds.
**-8-**
## **AL ASR WELFARE FOUNDATION UK**
## **Notes to the Financial Statements** _**(continued)**_
## **For the period started from 16 November 2021 to 01 May 2023**
## **3. Accounting policies** _**(continued)**_
## **Incoming resources**
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable, and its amount can be measured reliably.
- legacy income is recognised when receipt is probable, and entitlement is established.
- income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
- income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
## **Resources expended.**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
- expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
## **Financial instruments**
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 amount receivable or payable including any related transaction costs.
**-9-**
## **AL ASR WELFARE FOUNDATION UK**
## **Notes to the Financial Statements** _**(continued)**_
## **For the period started from 16 November 2021 to 01 May 2023**
## **3. Accounting policies** _**(continued)**_
## **Financial instruments** _**(continued)**_
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortized cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortized 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 under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
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 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.
## **4. Donations and legacies**
|||**2023**||
|---|---|---|---|
||Unrestricted||**Total**|
||Funds||**Funds**|
||(£)||**(£)**|
|**Donations**||||
|General donations|54,856||**54,856**|
## **5. Expenditure on charitable activities by fund type**
|Expenditure on charitable activities|**2023**
Unrestricted
Funds
(£)
**Total**
**Funds**
**(£)**
40,297
**40,297**|
|---|---|
**-10 -**
## **AL ASR WELFARE FOUNDATION UK**
**Notes to the Financial Statements** _**(continued)**_
**For the period started from 16 November 2021 01 May 2023**
## **6. Staff costs**
The charity does not have any employees and therefore the head count of employees during the period was Nil and there were no employee benefits paid during the period.
## **7. Trustee remuneration and expenses**
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
## **8. Analysis of charitable funds**
## **Unrestricted funds**
|General funds|At 1 November
2021
(£)
Income
(£)
Expense
(£)
**At 1 May**
**2023**
**(£)**
-
54,856
40,297
**14,559**|
|---|---|
## 9. **Analysis of net assets between funds**
|Current assets
Current assets|Unrestricted
Funds (£)
**Total Funds**
**2023 (£)**
14,559
**14,559**|
|---|---|
||Unrestricted
Funds (£)
**Total Funds**
**2021 (£)**
-
**-**|
## **10. Analysis of changes in net debt**
Cash at bank and in hand
|At|1|November||**At 1 May**|
|---|---|---|---|---|
|||2021|Cash flows|**2023**|
|||(£)|(£)|**(£)**|
|||-|14,559|**14,559**|
**-11 -**