2022-12-31-accounts - Yafa Foundation

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YAFA FOUNDATION

Registered Charity No. 1197312

Trustees' report and financial statements for the period ended

31st December 2022

YAFA FOUNDATION Contents

	Page number
Charity Information	1
Report of the Trustees	2 - 4
Report of the Independent Examiner	5
Statement of Financial Activities	6
Balance Sheet	7
Notes to the Financial Statements	8 - 11

YAFA FOUNDATION Charity Information

Charity Number: 1197312 Registered Office: 3rd Floor 20 King Street London EC2V 8EG Trustees: Hani Abdul-Muhsen Al-Qattan Syma Abboushi Al-Qattan Leila Hani Al-Qattan Principal Bankers: Arab Bank Plc Mayfair London SE10 9EL Independent Examiner: Moore Kingston Smith LLP 6th Floor 9 Appold Street London EC2A 2AP

Solicitors:

Carter Lemon Camerons LLP 3rd Floor 20 King Street London EC2V 8EG

YAFA FOUNDATION Trustees' Report

The Trustees present their report along with the financial statements of the charity for the period from the charity's date of registration (30 December 2021) to 31 December 2022.

Structure Governance and Management

GOVERNING DOCUMENT

Yafa Foundation is a registered charity (number 1197312) and is governed by its Constitution dated 30th December 2021. The Trustees, who are listed on page 1 are responsible for the management of the charity.

The charity's finances encompass an unrestricted fund that is replenished on a grant by grant basis by unrestricted trustee donations.

ORGANISATION & TRUSTEES

Apart from the first charity trustees, every trustee must be appointed by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

The board of trustees administers the charity. The board meets regularly on an informal basis. The day-today operations of the charity are managed by one of the trustees; Hani Abdul Muhsen Al-Qattan. Hani develops and oversees working relationships with organisations on behalf of the Foundation.

Objectives and Activities

The Constitution directs that the funds of the charity are to be used for the benefit and advancement of all such legally charitable purposes according to the laws of England and Wales as the trustees see fit from time to time in particular for, but not limited to, the public benefit of Palestinians worldwide, principally in Palestine, Jordan, and Lebanon, but also for people of the Arab World and elsewhere.

In furtherance of their objectives, the Trustees made a number of grants to charitable organisations working in the fields of education, healthcare, and culture among others; both on a one-off and recurring basis.

Achievements and Performance

The activities of the charity remain satisfactory and the objects of the charity were achieved during the period. The CIO has continued to generate sufficient funds to enable its grant-giving activities to continue.

During the period, the charity awarded grants totalling to £466,633 to registered non-profit organisations. The trustees are pleased with the progress made in the period and look forward to expanding the work with many other organisations in the years to come.

Fundraising

The CIO does not use third party fundraisers. No complaints were received in the period regarding our fundraising practices.

YAFA FOUNDATION Trustees' Report

Grant Making Policy

A wide variety of charitable causes have been supported. The policy is to make grants to registered charities over a wide range of charitable objects.

As required the Charities Act 2011, the trustees have referred to the Charity Commission's general guidance on public benefit when formulating the grant-making policy, in particular the trustees consider how grants can be made to ensure maximum benefit flows through to the intended ultimate beneficiaries. The grants benefit a number of public causes. In shaping our objective for the period, the trustees have also considered the Charity Commission's guidance on public benefit including the guidance on 'public benefit: running a charity (PB2)'.

Financial Review

Total income received during the period amounted to £481,705. Total expenditure, including grants, amounted to £483,483. The financial statements for the period are set out on pages 6 - 11.

Reserves Policy

The reserves policy is being worked on and for now all expenditure is covered by trustee donations so nothing is held in reserve.

Risk Management

The Trustees have assessed the major risks to which the CIO is exposed, in particular those related to the operation and finances of the charity, and are satisfied that systems are in place to manage these major risks.

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law 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 of the incoming resources and application of resources including the income and expenditure of the charity for that period. In preparing these financial statements the trustees are required to:

select suitable accounting policies and apply them consistently;
comply with applicable accounting standards, including FRS 102, subject to any material
departures disclosed and explained in the financial statements;
state whether a Statement of Recommended Practice (SORP) applies and has been followed,
subject to any material departures which are explained in the financial statements;
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on a going concern basis unless it is inappropriate to presume
that the charity will continue in business.

YAFA FOUNDATION Trustees' Report

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable it to ensure that the financial statements comply with the Charities Act 2011. 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.

Approved by the Trustees and signed on their behalf by:

14/03/2024 ..................................... Trustee: Hani Abdul-Muhsen Al-Qattan ..................................... Date

YAFA FOUNDATION Independent Examiner's Report to the Trustees' of Yafa Foundation

I report to the charity trustees on my examination of the accounts of YAFA Foundation for the period ended 31st December 2022.

Responsibilities and basis of report

As the charity's trustees of the charitable incorporated organisation ('CIO') you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the CIO’s accounts 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 matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in respect of the CIO as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the 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.

Adam Fullerton (FCA DChA) For and On Behalf of Moore Kingston Smith LLP 6th Floor 9 Appold Street London EC2A 2AP

Date: 15/03/2024

YAFA FOUNDATION Statement of Financial Activities for the period ended 31st December 2022

Note Income Donations received 2 Total Income Expenditure Charitable activities 3 Total Expenditure Net deficit and net movement in funds Total funds brought forward at 30th December 2021 Total funds carried forward at 31st December 2022 All amounts relate to continuing activities.	Unrestricted Funds 2022 £ 481,705
	481,705
	483,483
	483,483
	(1,778) -
	(1,778)

YAFA FOUNDATION Balance Sheet As at 31st December 2022

Note CURRENT ASSETS Cash at bank and in hand CURRENT LIABILITIES Creditors - falling due within one year 6 Net Current Assets Net Assets Funds Unrestricted Funds 7 Fund value as at 31/12/2022	2022 £ 3,638 5,416	2022 £ (1,778)
		(1,778)
		(1,778)
		(1,778)

For the period ended 31st December 2022 the charity was entitled to exemption from audit under Charities Act 2011.

The financial statements were approved by the Trustees on and were signed on their behalf by: 14/03/2024

……………………………………..

Trustee: Hani Abdul Muhsen Al-Qattan

YAFA Foundation Notes to the Financial Statements for the period ended 31st December 2022

1 Accounting Policies

Basis of preparation

These financial statements are prepared on a going concern basis, under the historic cost convention.

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The charity is a public benefit entity for the purposes of FRS 102 and therefore the charity also prepared its financial statements in accordance with 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 (The FRS 102 Charities SORP) and the Charities Act 2011.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.

Going concern

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern, including the net liabilities position of (£1,778) at 31 December 2022. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. After making enquiries the trustees have concluded that there is a reasonable expectation that the charity will have adequate resources to continue in operational existence for the foreseeable future, on the basis that trustees will continue to provide the charity with the necessary donations to do so, and there are no material uncertainties affecting this assumption. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

Income

All income is recognised once the charity has entitlement to the income, so it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Grants are recognised in full in the Statement of Financial Activities in the year in which they are receivable or any requirement imposed on the grant is fulfilled.

Expenditure

Liabilities are recognised as expenditure once there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses, including support costs which include governance costs, are allocated to charitable activities in the statement of financial activities.

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practices, and these costs are included within support costs.

Grants payable are recognised when they are approved by the Trustees and the recipient of the grant has been informed of the amount to be paid.

Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

YAFA Foundation Notes to the Financial Statements

for the period ended 31st December 2022

1 Accounting Policies (continued)

Cash and cash equivalents

Cash and cash equivalents include cash at banks and in hand and short term deposits with a maturity date of three months or less.

Fund accounting

Unrestricted funds are general funds that are available for the use at the trustees' discretion in furtherance of the objectives of the charity.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.

The Charity currently has no restricted or designated funds.

Critical Accounting Judgements and Estimates

In application of the Charity's accounting policies, the board is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There are no estimates and assumptions which are believed to have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities in the current or prior period.

YAFA FOUNDATION Notes to the Financial Statements for the period ended 31st December 2022

INCOME Donations received	Unrestricted Funds Total 2022 2022 £ £ 481,705 481,705 481,705 481,705

2 INCOME

3 CHARITABLE ACTIVITIES

The charity awarded grants to a number of institutions in furtherance of its charitable activities.

FQMS American University of Beirut Palestinian Museum Institute for Middle East Understanding (IMEU) Electronic Intifada University of Glasgow Elia Nuqul Foundation Ajyal Foundation Wasim Al-Kurdi Al-Balad Theatre Unite Lebanon Youth Project Reem's Dream King Hussein Cancer Foundation & Center Sanad Hospice Jordan MAP Atfaluna FWD Production Company Carol Mansour LOYAC Artist Support Makan Rights Others Grants Support and governance costs (see note 4) Total 4 SUPPORT AND GOVERNANCE Governnance - Independent Examiner Fees Consultancy fees Bank Charges Foreign exhange differences	2022 £ 10,600 277,684 19,555 15,644 7,822 5,198 7,822 4,322 8,826 7,822 7,822 7,822 7,822 35,856 7,172 5,867 3,911 7,822 17,244
	466,633 16,850
	483,483
	5,400 12,212 185 (947)
	16,850

5 STAFF COSTS

There were no employees during the period.

The aggregate amount of reimbursed expenses paid to trustees were £nil.

6 CREDITORS

Accruals Other creditor	5,400 16
	5,416

YAFA FOUNDATION Notes to the Financial Statements for the period ended 31st December 2022

7 ANALYSIS OF FUNDS

ANALYSIS OF FUNDS
Unrestricted Funds Total Funds	At 01/01/2022 £ - -	Incoming Resources £ 481,705 481,705	Outgoing Resources £ (483,483) (483,483)	At 31/12/2022 £ (1,778)
				(1,778)

8 RELATED PARTY DISCLOSURES

Trustees donated £481,705 in the period.