YAFA FOUNDATION
Registered Charity No. 1197312
Trustees' report and financial statements for the year ended
31st December 2023
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
1
YAFA FOUNDATION Trustees' Report
The Trustees present their report along with the financial statements of the charity for the year ended 31 December 2023 .
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 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 make 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 year. The CIO has continued to generate sufficient funds to enable its grant-giving activities to continue.
During the year, the charity awarded grants totalling to £217,165 to registered non-profit organisations. The trustees are pleased with the progress made in the year 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 year regarding our fundraising practices.
2
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 year, 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 year amounted to £237,613. Total expenditure, including grants, amounted to £241,109. The financial statements for the year 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 and 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:
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select suitable accounting policies and apply them consistently;
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comply with applicable accounting standards, including FRS 102, subject to any material
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departures disclosed and explained in the financial statements;
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state whether a Statement of Recommended Practice (SORP) applies and has been followed,
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subject to any material departures which are explained in the financial statements;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on a going concern basis unless it is inappropriate to presume
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that the charity will continue in business.
3
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.
In so far as the trustees are aware:
a) there is no relevant audit information of which the Charitable company's auditors are unaware; and
b) the trustees have taken all relevant steps they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
Approved by the Trustees and signed on their behalf by:
14/03/2024 ..................................... Trustee: Hani Abdul-Muhsen Al-Qattan ..................................... Date
4
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 year ended 31st December 2023.
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:
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accounting records were not kept in respect of the CIO as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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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:
5
YAFA FOUNDATION Statement of Financial Activities for the year ended 31st December 2023
| Note Income Donations received 2 Total Income Expenditure Charitable activities 3 Total Expenditure Net deficit and movement in funds Total funds brought forward at 1st January 2023 Total funds carried forward at 31st December 2023 |
Unrestricted Unrestricted Funds Funds 2023 2022 £ £ 237,613 481,705 |
|---|---|
| 237,613 481,705 |
|
| 241,109 483,483 |
|
| 241,109 483,483 |
|
| (3,496) (1,778) (1,778) - |
|
| (5,274) (1,778) |
All amounts relate to continuing activities.
6
YAFA FOUNDATION Balance Sheet As at 31st December 2023
| Note CURRENT ASSETS Cash at bank and in hand CURRENT LIABILITIES Creditors - falling due within one year 7 Net Current Assets Net Assets Funds Unrestricted Funds 8 Fund value as at 31/12/2023 |
2023 £ 5,543 10,817 |
2023 2022 £ £ 3,638 5,416 (5,274) (5,274) (5,274) (5,274) |
2022 £ (1,778) |
|---|---|---|---|
| (1,778) | |||
| (1,778) | |||
| (1,778) |
For the year ended 31st December 2023 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
7
YAFA FOUNDATION Notes to the Financial Statements for the year ended 31st December 2023
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 (£5,274) at 31 December 2023. 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.
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.
8
YAFA FOUNDATION Notes to the Financial Statements
for the year ended 31st December 2023
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.
9
YAFA FOUNDATION Notes to the Financial Statements for the year ended 31st December 2023
| 2 INCOME Donations received 3 CHARITABLE ACTIVITIES |
Unrestricted 2023 £ 237,613 237,613 |
Total Total 2023 2022 £ £ 237,613 481,705 237,613 481,705 |
|---|---|---|
The charity awarded grants to a number of institutions in furtherance of its charitable activities.
| Mariam Foundation My School Pulse Nour Bader Documentary Khalil Sakakini Cultural Center FQMS American University of Beirut AUB University Hospital Augusta Victoria Hospital Palestinian Museum AlRowwad Society Institute for Middle East Understanding (IMEU) Lebanon of Tomorrow Electronic Intifada SUDC Foundation Palestine Writes Festival 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 |
2023 2022 £ £ 40,290 - 29,008 - 24,174 - 25,262 - 9,645 10,600 4,029 277,684 4,029 - 5,479 - 20,145 19,555 12,087 - 12,087 15,644 16,956 - 8,058 7,822 1,612 - 4,029 - - 5,198 - 7,822 - 4,322 - 8,826 - 7,822 - 7,822 - 7,822 - 7,822 - 35,856 - 7,172 - 5,867 - 3,911 - 7,822 275 17,244 217,165 466,633 23,944 16,850 241,109 483,483 5,400 5,400 18,408 12,212 - 185 136 (947) 23,944 16,850 |
|---|---|
10
YAFA FOUNDATION Notes to the Financial Statements for the year ended 31st December 2023
5 STAFF COSTS
There was no employees during the current or prior year.
The aggregate amount of reimbursed expenses paid to trustees were £nil (2022: £nil).
6 CREDITORS
| Accruals Other creditor |
2023 2022 £ £ 10,800 5,400 17 16 10,817 5,416 |
|---|---|
7 ANALYSIS OF FUNDS
| Unrestricted Funds Total Funds |
At 01/01/2023 £ (1,778) (1,778) |
Incoming Resources £ 237,613 237,613 |
Outgoing Resources £ (241,109) (241,109) |
At 31/12/2023 £ (5,274) |
|---|---|---|---|---|
| (5,274) |
8 RELATED PARTY DISCLOSURES
Trustees donated £237,613 (2022: £481,705) in the year.
11