Charity Registration No. 1197380
Project Rozana UK
Annual report and financial statements for the year ended 31 December 2022
Project Rozana UK Charity Registration Number: 1197380 Reference and Administrative Details
| Page | |
|---|---|
| Trustees’ Report | 3 |
| Profit and Loss Account | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 - 8 |
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Project Rozana UK Charity Registration Number: 1197380
Trustees Michael Gale (Chair) (appointed 30 March 2023) Dr Saif Azzawi (resigned 1 January 2023) Mark Berelowitz (resigned 14 January 2022) David Emin (appointed 31 August 2022) Prof Dame Anne Marie Rafferty Dr Katelin Teller (appointed 30 March 2023) Charity Number 1197380 Registered Office 6 Bancroft Avenue LONDON N2 0AS
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Project Rozana UK Charity Registration Number: 1197380
Trustees’ Report
The trustees present their annual report and financial statements for the year ended 31 December 2022. The Charity was registered on 6 January 2022 and activities in its first year were minimal, principally consisting of some modest fundraising amounting to £5,214.00. There was no expenditure.
Objectives and activities
Objects and aims
The relief of those in need by reason of sickness or ill health, principally by facilitating access for children in the Palestinian territories to high quality medical care in Israel and through the improvement of medical provision in the Palestinian territories through cooperation between Israeli and Palestinian medical services and personnel.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Nature of governing document
The Charity is a registered as a Charitable Incorporated Organisation and its governing document is its Constitution, dated 22 December 2021.
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Project Rozana UK Charity Registration Number: 1197380
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities 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 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 then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. These accounts have not been independently examined as they fall below the requisite income threshold.
The trustees 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 of the charity on 7 January 2025 and signed on its behalf by:
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Project Rozana UK Charity Registration Number: 1197380
Statement of Financial Activities For the year ended 31 December 2022
| Notes Income from: Donations Investment Income Total Income Expenditure on: Charitable Activities Total Expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total 2022 £ 5,214 (0) |
|---|---|
| 5,214 (0) |
|
| (0) | |
| (0) | |
| 0 | |
| 5,214 |
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Project Rozana UK Charity Registration Number: 1197380
Statement of Financial Position For the year ended 31 December 2022
| Current Assets Cash at bank and in hand Current Liabilities invoices not paid Total assets Funds of the charity: Unrestricted funds Restricted funds Total Funds |
2022 5,214 |
|---|---|
| 5,214 | |
| (0) | |
| 5,214 | |
| 5,214 | |
| 5,214 |
The financial statements on pages 6 to 10 were approved by the trustees, and authorised for issue on 7 January 2025 and signed on their behalf by:
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Project Rozana UK Charity Registration Number: 1197380
Notes to the Financial Statements For the Year ended 31 December 2022
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Project Rozana UK meets the definition of a public benefit entity under FRS 102. Assets and liabilities are recognised at historical cost or transaction value unless stated in the accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings, they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’ meetings and reimbursed expenses.
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Project Rozana UK Charity Registration Number: 1197380
Notes to the Financial Statements (continued) For the Year ended 31 December 2022
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
| 2 Income from Donations and Legacies Donations from individuals and trusts Gift Aid claimed 3 Investment Income Interest receivable on bank deposits 4 Governance costs Other governance costs |
2022 5,214 0 |
|---|---|
| 5,214 0 |
|
| 2022 - |
- 5 Trustee remuneration and expenses
6 Taxation
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