URGENT MEDICAL AID
Registered Charity No. 1196732
Financial Statement for the Year Ended
31/03/2023
LEGAL INFORMATION
Name of Charity: Urgent Medical Aid Charity Registration No: 1196732 Registered Address: 45 Settles Street, London, E1 1JN Email: tauhidsh@gmail.com info@urgentmedicalaid.org Trustees for the Accounting Period: Mr. Shafiul Tauhid Chair Mr. Nazmus Sakib Omi Trustee Dr. Md Hasanuzzaman Sagor Trustee Contact Person for the Accounts: Mr. Shafiul Tauhid Chair Independent Examiner: N/A Bankers: None Legal Advisor: None
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URGENT MEDICAL AID REPORT OF THE MANAGEMENT COMMITTEE
History, Objectives and Activities of Urgent Medical Aid (UMA):
The Trustees meeting of the UMA submit their report and financial statements for the year ended 31 March 2023. The UMA was incorporated as a charity and its name was entered in the Charity Commission’s Central Register on the 23[rd] of November 2021.
The Objectives of the UMA:
The Charity’s objects are for the benefit of the medical cases but not exclusively:
To relieve sickness and to preserve the health of patients in Bangladesh, living in poverty, by making grants to fund access to medical services and the provision of equipment, facilities and services, not normally provided by the statutory authorities.
Structure, Governance and Management:
The charity is constituted by a constitution. It is governed by the regulation set out in the Constitution and run by a voluntary Trustees.
The trustees are normally briefed by the Chair in order to familiarise themselves with the rules, regulations and responsibilities of the charity. The Trustees met monthly till the end of year to review the activities of the charity including the approval of the annual report and accounts and to set out action plan for the charity.
The day-to-day work of the charity is overseen by the chair who is responsible to and reports to the trustees. The Trustees are aware of the potential risks to the charity, both financial and otherwise. Therefore, strategies are in place to control these risks. Assessments have also been taking relating to safeguarding, compliance, risk management and health and safety.
The Trustees are seriously looking into other risk areas such as operational, governance and compliance with law and regulations.
Achievements and Performance of UMA:
The trustees are formulating strategy and policies for smooth operation. However, we failed to open a bank account yet as Barclays still processing application.
Financial Review:
The financial position of the Charity is blank as we have been waiting for the bank account before engaging any charity work.
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Statement of Trustees’ Responsibilities:
Law applicable to charities in England & Wales requires the Trustees to prepare financial statement for each financial year, which gives a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year.
The Trustees are responsible for keeping accounting records, which discloses with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the charity act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
However, the trustees are not in a position to discharge their duty in the absence of any financial transactions till to the date.
Reserve Policy:
It is the policy of the charity that unrestricted funds, which have not been designated for a specific use, should be maintained at a level equivalent to at least 12 months expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. The UMA will actively work to achieve this level of reserves. In the absence of any financial dealings, there is no need of compliance required.
Risk Factors:
The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
Independent Examiner:
According to the provisions of the Charities Act 1993, the Trustees agree that an audit is not required for this financial year; however due to the provisions of the same act an Independent Examiner is required.
The Trustees agreed to appoint a qualified accountant to carry out the Independent Examination of the accounts if required in the future.
This statement is approved on the behalf of the trustees.
….. ….. Shafiul Haq
Urgent Medical Aid
Mr. Shafiul Tauhid Chair
Dated: 31/03/2023
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