17,051 Registered number 1196937 Gear Trust UK Accounts For The Year Ended 31 December 2023 BUSH & COMPANY Accountants 6W8 I*C>I ROAD. LEYfiJl. L(DaN. E10 ORA 0208 556 0702 wwW.trMfuccxC0Un1cy Co.[
Gear Trust UK Report and accounts Contents Pagè Company information Independent Ex8miner Report Trustees. RepDri A¢cotJntanls' report Profit and loss account 34 Balance sheet Detailed Profil and loss account
Gear Trust UK Company Informatlon Dlrectors Mohammad Zafrullah Ahmed Jamal Khan Fayaz Shah Accountants Bush and Company Accountants 699 High Road Le5rton London E106RA R•g1Stered numb8r 1196937
Independent Examiners Report to the Accounts Charity No. 1196937 Respective Responsibilities of Trustees and Examiner The charity's trustees are responsible for the prep8r2tion of the aeeounts. The charity's trustees consider that an audit is not required for this year under section 42121 of the Charities Act 1993 (the 1993 Acll and that an independent examination is needed. Ils is my responsibilty lo.. Examine Ihe accounts under section 43 of the 1993 Act To follow the procedures laid down in the general Directions given by the Charity Commission (under Section 43171 Ibl of the 1993 Act, and To slate whether particular mallers have come lo my allenlion. Basis of Independent Examingr's Statemgnt My examination was carried out in accordance wlh general diredions given bythe Commission. An examination includes 8 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 conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequenuy no opinion is given as lo whether the accounts present ' 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 maller has come to my attention.. 1. Which gives me reasonable cause lo believe thal in, any material respect, the requirements.. to keep acGounting records in accordance with section 41 of the 1993 Act.. and lo prepare accounts which accord with the accounting records and complywilh the accounting requirements of the requirements of the 1993 Act have not been mel.. or 2. To which, in my opion, attention should be drawn in order to eriable a proper understanding of the accounts to be reached Name.. M. Omair Ahmed Professional qualification or body.. MA4T Date.. May 23, 2024
GEAR TRUST UK TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED DECEMBER 31, 2023 The trustees present the annual report of Gear Trust UK for the above year. A. Reference and Admlnlstratlon Details Registered Charity Number.. 1196937 Charity s Principal Address.. 699 High Road Leylon London E10 6RA The following were the trustees who held office during the year.. 1. Mohammad zafrullah 2. Ahmed Jamal Khan 3. Fayaz Shah Director Director Direclor Appointment of new trustees 15 by a majority in a special meeting. B. Structure. Governance and Management Description of the Charity's Trusts The Charity is govefned by a Trust Deed consb'luted by a Trust. The trustees are appointed by a majority resolution of the Trustees passed al a special meeting. C. Objectives and Activities Principal Activities Our self-employmenl model is based on the following principles.. Offering interest free financial support to the poor and needy who want to work an earn a dignified living for themselves and their families- The amount invested is repayable in self determined instalments on the principles I payable when able.: .No repayments from self-employment support funded through Z8k8t donations.. This help lo maintain self respect of the individuals and circulates funds lo other neec people, thereby crealiTig a perpetual cycle of social support., Examples of small businesses include grocery shops, fruit and vegetable vendor. food slalls, rickshaw plying, sewing machines for widows and deslilute.
Our Objectives AI GEAR Trust UK. we aspire to support rKiverty alleviation by Providing suslainable means of living to those needing a helpir)g hand, by creating self-employment opportunibes for them. Also supporting their ¢hildren with good quality edLJcation. Our approach is to find partners in developing nations who share the same vision and mission to lead the objectives we have set ourselves and we have started our journey from Pakistan. We achieve our mission through creating sustainable self-employmenl opportunities, supporting educational effort and providing relief lo people affected by natural disaster. Achievements and Perfomance Summary of the main achievements of the charity during the year In the year ending 31 December 2023, through the kind support of our donors. we were able lo accomplish the following in Pakistan..: create over 4699 self-employment opportunities for people al the bottom end of th economic pyramid., .build 16 houses for fli)od affectees in the province of Sindh- initiated an orphans support program which is financialty supporting over 100 orpha children in the country. We hope to build on this year's SucsS and have made significant plans to take our mission forward in 2024 and beyond. Finally, we offer our sincere thanks lo our kind and generous donors, without whose support none of this would have been possible. May Allah grant them alr for their generosity. JazakAllah Khair.
Gear Trust UK Accountsnts. Report Ae¢ountants' report to th• dlrectors of Gèar Trust UK You consider that the ¢orrpany is exempt from an audit for the year ended 31 December 2023. You have acknowledged. on the balance sheet. your responsibilities for complwng with the requirements of the Gompanies Act 2006 with respect to accounting récords and the preparation of accounts. These responsibililies include preparing accounts that give a true and fair view ol the state ol affairs of the company at the end ol the financial year and of its pn)fit or loss for the financial year. In accordance with your inslruclions, we ha prèparod the accounts which comprise the Profit and Loss Account and the Balance Sheet from the accounting records of the company and on the basis of informab'on and explanations you have given to us. We have not carried out an audit or any olher rewew, and consequently we do not express any opinion on these accounts. Bush and Company Accountants 699 High Road Leyton London E10 6RA 20 June 2024
Gear Trust UK Profit and Loss Account for the year ended 31 December 2023 2023 Donation5 Received Donations- Zakat 739,508 Total Donations Received 739.508 Donations Paid - Pakistan Other charges 1576,7151 2,057 Resouregs ov&r Expenditure 160,736 Total Resources ovèr Total Expended 160,736
Gear Trust UK Reglstered number.. Balance Sheet as at 31 Decgmber 2023 1196937 2023 Current assets 282.323 Nel ¢urrent assets 282.323 Total assets less current liabilities 282.323 Accruals and dèfarrèd incomè 11.0001 281,323 Net assets Capital and reserves 281.323 Nurnr Average number of employees The company is a private company limited by shares and incorporated in England and Wales Its registered officè is 699 High Road, Leyton, London, E10 6RA. The directors are satisfied that the company is entiued to exemption from the requirement to obtain an au(Jit under s8Ction 477 of the Compani85 Act 2006. The members have not required the company lo obtain an audit in accordance wth section 476 of the Act. The directors acknowledge their responsibilities for complwng with the requirements of the Companies Act 2006 with respect lo accounting records and the prep8r8tion of accounts. The accounts have been prepared in accordance with the micro eniity provisions of the Companies Act 2006 and FRS 105, The Financial Reporting Standard applicable to the Micro-enlilies Regime. The accounts have beell delivered in accordan with thé prowsions applicable to companies subjed to the small Gompanies regime. The profit and loss account has not been delivered to the Registrar of Companies. Mohammad Zafrullah Director Approved by the t)oard on 20 June 2024
Gear Trust UK Detailed profit and loss account Items for the year ended 31 December 2023 rhis schedul& does nol lom7 P8rt ol lh8 Stalulory accounts 2023 Other donations Donations Zakat 739,508 Donations Paid Wages and salaries Donations Paid - Pakistan 215 576,500 576,715 Othar charges General administrative expenses.. Bank charges 57 57 Legal and professional costs.. Accountancy fees Adverfising and PR 500 1,500 2,000 2.057