2023-03-31-accounts - Ebrahim Sheikh Charitable Trust

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Note 2				Accounting policies
2.2 INCOME
This standard		list ofaccoun/ing po/icies has been app/ied by Ihe charily except for /hose licked "Nc"or "N/st Where a
different or	addilional		pc/icy	has been adopted lhen ibis is detailed in the box be/cw.
Recognition		ofincome		These are included in the Statement ofFinancial Activities (SoFA)when:
				~ the chanty becomes entitled to the resources;
				it is more likely than not that the trustees will receive the resources; and			Yea	No	Nla
				~ the monetary value can be measured with sufficient reliability.
				There has been no offsetting ofassets and liabilities, orincome and expenses,	unless required
Of/setffng				permiffed by the FRS 102SORP or FRS 102.
							Yes	No	N/a
				Grants and donations are only included in the SoFAwhen the general income	recognition
Grants and	donations			criteria are met (5.10lo5.12FRS102SORP).
				In the case of performance related grants, income must only be recognised to	the extent		Yes	No	N/a
				that the charity has provided the specified goods or services as entigement to	the grant
				only occurs when the performance related conditions are met (516FRS102SORP).
Legacies				Legacies are included in the SOFA when receipt is probable, that is, when there has been grant cfprobate, the executors have established that there are sufficient assets in the estate and any conditions affached to the legacy are either within the control of Ihe charity or have been meL			lZD
							Yes	No	N/a
Government		grants		The chanly has received government grants in the reporting period
				Gift Aid receivable is included in income when there is a valid dedaration from	the donor.
Tax reclaims		on		Any Gift Aid amount recovered on a donation is considered to be part ofthat gift and		is	Yes	No	N/a
donations	and gifts			treated as an addition to the same fund as the initial donation unless the donor	or the
				terms ofthe appeal have specified otherwise.
Contractual income performance related grants			and	This is only included in the SoFA once the chanty has provided the related goods or services cr met the performance related conditions.			Yes No N/a lZD
							Yes	No	Nla
Donated goods				Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so.
				The cost of any stock ofgoods donated for distribution to beneficiaries is deemed lo be the fair value ot those gifts at the time of their receipt and they are recognised on receipt.			Yes	No	N/a
				In the reporting period in which the stocks are distributed, they are recognised	as an
				expense at the carrying amount ofthe stocks at distribution.
				Donated goods for resale are measured at fair value on initial recognition, which is Ihe
				expected proceeds from sale less the expected costs ofsale, and recognised in 'Income from other trading activities' with the corresponding stock recognised in the balance sheet. On its sale the value ofstock is charged against 'Income trom other trading activities' and the proceeds from sale are also recognised as 'Income from other trading activities'.			ZD
							Yes	Nc	N/a
				Goods donated for on-going use by Ihe charity are recognised as tangible fixed assets
				and induded in the SoFAas incoming resources when receivable.
							Yes	No	N/a
				Gifts in kind for use by the charity are induded in the SoFAas income fram donations
				when receivable.
Donated services and				Donated services and facilities are induded in the SOFA when received at the	value	of	Yes	No	Nla
facilities				the gift to the charity provided the value ofthe gift can be measured reliably.
				Donated services and facilities that are consumed immediately are recognised	as income		Yes	No	N/a
				with an equivalent amount recognised as an expense under the appropriate heading		in
				the SOFA.
							Yes	No	N/a
Suppcrtcosts				The charity has incurred expenditure on support costs.
							Yes	No	Nla
Volunteer	help			The value ofany voluntary help received is not included in the accounts but is in the trustees' annual reporL	described
							es	o	Nla
Income from		Interest,		This is induded in the accounts when receipt is probable and the amount receivable		can
royalties and		dividends		be measured reliably.

						Yes	No	N/a
Income from			membership	Membership subscriptions received in the nature ofa gift are recognised in Donations
subscriptions				and Legacies.
				Membership subscriptions which gives a member the right to buy services orother benefits are recognised as income earned from the provision ofgoods and services income from charitable activities.	as	es o /a CEH
Settfement claims		ofinsurance		Insurance claims are only included in the SoFA when the general income recognition cntena are met (5.10to 5.12FRS102SORP) and are included as an item ofother income in the SoFA.		Yes	No	N/a
Investment losses		gains and		1his includes any realised or unrealised gains orlosses on the sale ofinvestmenls any gain or loss resulting from revaluing investments to market value at the end of	and the	Yes	No	N/a
				year.
2.3 EXPENDITURE				AND LIABILITIES
Liability recognition				Liabilities are recognised where it is more likely than not that there isa legal or		Yes	No	N/a
				constructive obligation commiffing the charity to pay out resources and the amount	ofthe
				obligation can be measured with reasonable certainty.
costs			ri	Support costs have been allocated between governance costs and other support. Governance costs comprise ag costs involving public accountability ofthe charity and its compliance with regulation and goad practice.
				Support costs indude central functions and have been allocated to activity cost		Yes	No	N/a
				categories on a basis consistent with the use ofresources, eg allocating property costs
				by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Grants with performance conditions Grants payable without performance conditions				Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFAonce the recipient ofthe grant has provided the speciTied service or output. Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability for the full funding obligation must be recognised.		es No N/a [HZ Yes No N/a CDZ
						Yes	No	N/a
Redundancy			cost	The charity made no redundancy payments during the reporting period.
Deferred Income				No material item ofdeferred income has been included in the accounts.		Yes	No	N/a
						Yes	No	N/a
Creditors				The charily has creditors which are measured at settlement amounts less any trade discounts
				A liability is measured on recognition at its historical cast and then subsequently		Yes	No	N/a
Provisions		for liabilities		measured at the best estimate ofthe amount required to settle the obligabon at the
				reporting date
flaslc financial instruments				The chariiy accounts for basic financial instruments on initial recognition as per paragraph 11.7 FRS102SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19,FRS102SORP.		Yes	No	N/a
2.4ASSETS
Tangible fixed assets for				These are capitalised ifthey can be used for more than one year, and cost atleast
use by charity						Yes	No	N/a
				1 hey are valued at cast.
				The depreciation rates and methods used are disdosed in note 9.2.
Intangible	fixed assets			The charily has intangible fixed assets, that is, non-monetary assets that do not have		Yes	No	N/a
				physical substance but are identifiable and are controged by the charity through custody
				or legal rights. The amortisation rates and methods used are disdosed in note 9.5
								/a
				They are valued at cast.
Heritage assets				The chanly has hentage assets, that is, non-monetary assets with historic, arbstic, saentific, technological, geophysical or environmental qualities that are held and maintained principally for their contnbution lo knowledge and culture. The depreciation rates and methods used as disdosed in note 9.5.1.4.		Yes No N/a EZZ
						Yes	No	N/a
				They are valued atcost
Investments				Fixed asset investments in quoted shares, traded bonds and similar investments are
				valued at initially at cost and subsequently at fair value (their market value) at the year		Yes	No	N/a
				end. The same treatment is applied to unlisted investmenls unless fair value cannot be
				measured reliably in which case it is measured at cost less impairment.
				Investments held for resale or pending their sale and cash and cash equivalents with a		Yes	No	N/a
				maturity date ofless than I year are treated as current asset investmenls

Stocks and work in progress	Stocks held for sale as part ofnon-chantable trade are measured at the lower or cost or net realisable value.	Stocks held for sale as part ofnon-chantable trade are measured at the lower or cost or net realisable value.	Yes No N/a EZD	Yes No N/a EZD	Yes No N/a EZD
	Goads or services provided as part ofa charitable activity are measured	at net realisable value	Yes	No	Nla
	based on the service potential provided by items ofstock.
			Yas	No	N(e
	Work in progress is valued at cost less any foreseeable loss that is likely	to occur on the contract.
	Debtors Snctuding trade debtors and loans receivable) are measured on	initial recognition at
	settlement amount after any trade discounts or amount advanced by the	charity. Subsequently,
	they are measured atthe cash or other consideration expected to be received.
	The charity has has investments which it holds for resale or pending their sale and cash and cash		Yes
Current asset investments	equivalents with a maturity dale less than one year. These indude cash on deposit and cash equivalents with a maturity dale ofless than one year held for investment purposes rather than to
	meet short term cash commitments as they fall due.
			Yes	No	Nle
	They are valued at fair value except where they qualify as basic financial	instruments.

Note 3				Analysis ofincome	Analysis ofincome	Analysis ofincome	Analysis ofincome	Analysis ofincome	Analysis ofincome	Analysis ofincome
														Restricted
													Unrestricted	Income	Endowment
						Anal	sis						funds	funds	funds	Total funds 8	Prior year f
Donations		Donations			and	ifts
and legacies;		Gift Aid Le acies											415,287			415,287
		General grants provided						by	government/other
		chadities
		Membership			subscriptions				and	sponsorships
		which are		in substance			donations
		Donated		cods,		facilities		and		services
		Other
												Total	415,287			415,287
Charitable
activities:
		Other
												Total
Other trading
activities:
		Other
												Total
Income from		Interest income
investments:		Dividend		income
		Rental and			leasin income
		Other
												Total
Separate
material	item
of income:
												Total
Other:		Conversion			ofendowment				funds		into income
		Gain on disposal				ofa tangible				fixed asset		held
		for charit		's own		use
		Gain on disposal				ofa programme					related
		investment
		Royalties		from the exploitation						of	intellectual
		ro e	ri		hts
		Other
												Total
TOTAL INCOME													415,287			415,287

Note 6			Analysis	Analysis	expenditure	expenditure
								This	year					Lastyear
													Rsstllotoa
					0	*tn tsd	R start	C	Endo	ment		unrestricted	Inoom		Ena	m ot
Analysis						f ods	income funds		funds		TotslfunCO	f nas	f nas		f	C*	Tot*if ods
Ex enditure on raisin		funds:									6						f.
Incurred seeking donations
Incurred seeking legacies
Incurred seeking grants
Operating membership schemes and
social loderies
Staging fundraising events
Fudraising agents
Operating charity shops
Operating a trading company
undertaking non-charitable			trading
ncdvlty
Advertising, marketing, direct				mail and
ublici
Start up costs incurred in		genemting
new source otfuture income
Database development	costs
Other trading ackviTies
Investment management		costs:
Portfolio mana ament costs
Cost of obtaining investment				advice
Investment administration			costs
Intellectual property licencing				costs
Rent collection, property		repairs and
maintenance charges
Total expenditure on raising				funds
Expenditure on charitable activities:
						17,500					17,500
Total expenditure on charitable
activities						17,500					17,500
Se arete material Item	ofex ense
LEGAL COSTS:TRUST			SE1 UP			3,500					3,500
Total						3,500					3,500
Other
Total other expenditure
TOTAL EXPENDITURE						21,00D					21,00D
Other Information:
Analysis ofexpenditure			on	charitable	activities
								This	ear					Last	ear
Activity or programme					Aclivities undertaken directl		Gmnt funding of activities		Siippoit Costs		Total this year	Activities undertaken directl	Grant funding of activities		Support Costs		Totallast year
Actlvlty I							17,50D				17,500
Acavity 2
Orner
Total							17,50D				17,500