CHARITY COMMISSION
FOR ENGLAND AND WALES
Trustees, Annual Report for the period
Period: Financial Year End 2022
Charity name: The Ali Foundation
Charity registration number: 1198189
Objectives and Activities
SORP
reference
Para 1.17
Summary of the purposes of
the charity as set out in its
goveming document
The Ali Foundation is involved in projects
that aims lo provide aid in the following
areas=
General Charitable Purposes
Educalionltraining
Disability
The Prevention Or Relief Of Povety
Summary of Ihe main
activities in relation lo those
purposes for the public
benefil, in particular. the
activities, projects or
services identified in the
accounts.
Para 1.17
and
1.19
The prevention or relief of poverty in rural
Pakistan by providing water filtration
systems and grants lo charities. or olher
organisalions working to prevent or relieve
poverty
- To advan the education of children of
school age in rural Pakistan by providing
scholarships. school supplies and by
providing funding to education institutions
which the trustees think fil.
I can confirm that the truslees are aware of
the Public guidance and when thinking
about projects lo uptake. that the guidance
will be followed.
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit
Para 1.18
Achievements and Perfomiance
SORP relerence
The charity remains in the process of trying
to open a bank account.
Summary of the main
achievefflents of the charity,
identifying the difference the
charity s work has made to
the circumstsnces of its
beneficiaries and any wider
benefits lo society as a
whole.
Para 1.20
Financial Review
Review of the charity s
financial position al the end
of the
eriod
Slalemenl explaining the
policy for holding reserves
statin
are held
Amount of reserves held
Reasons for holding zero
reserves
Details of fund materially in
deficit
Explanation of any
uncertainties about the
charity continuing as a going
concem
Para 1.21
No actlvlty occured
Pa 1.22
Nla
Para 1.22
Para 1.22
No bank account
Para 1.24
Nla
Para 1.23
Nla
Structure, Governance and Management
Descriplion of charity's
trusts:
Type of goveming document
Ilru51 deed ro¥al charter
How is the charity
constituted?
le.g uiiiiicorporaled
association. CIO)
Trustee selection methods
including delails of any
constilulional provisions e.g.
election to post or name of
any person or body entitled
lo appoint one or more
trustees
Nla
Para 1.25
Trust Deed
Para 1.25
cio
Para 1.25
Every trustee must be appoinled Ifor a term
of three yearsl by a resolution passed at a
properly convened meeting of the charity
trustees.
Reference and Administrative details
Chari
name
other name the chari
uses
Re
istered chari
number
Charity's principal address
The Ali Foundation
NIA
1198189
Office 2
Gallery Court
Arcadia Avenue
London
N3 2FG
Names of the charity trustees who manage the charity
Trustee namè
Dates acted If not for whol•
ear
Office lif any)
Name ol person lor body) entitlèd
toa
olnt trusteo
ifan
Arshad Ali
NIA
NIA
Rabia Ali
NIA
NIA
Farhan Ali
NIA
NIA
Co
orate trustees - names of the directors at the dale the re
Director name
ortwasa
roved
Nla
Name of tnjstees holding tille to propety belonging to the charity
Truslee name
Dates acted rf not for whole
ear
Nla
Funds held as custodian trustees on behalf of others
Description of the assets
None
held in this capacity
Name and objects of the
charity on whose behalf the
assets are held and how this
falls wilhin the custodian
charity's objects
Nla
Details of arrangements for
safe custody and
segregation of such assets
from the charity's own
assets
Additional informalion (optional)
Names and addresses of advisers (Optional information)
Type of
Name
Address
adviser
Accountant
Taylor Associates
1. Floor, Gallery Court. 28 Arcadia Avenue. N3 2FG
Exemptions from disclosure
Reason for non-disclosure of ke
NIA
ersonnel details
Other o
tional information
Declarations
The trustees declare that they have approved the trustees, report above.
Signed on behalf of the charlty's trustees
Signature(s>
Full name{s)
Position (eg Secretsry,
Chair, etc)
A£SklAQ /ILI
Date
71b/lo23
**Charity registration number 1198189**
## **THE ALI FOUNDATION**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022**
## **THE ALI FOUNDATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Mr Arshad Ali Mrs Rabia Ali Mr Farha Ali **Charity number** 1198189 **Accountants** Taylor Associates 1st Floor Gallery Court 28 Arcadia Avenue London N3 2FG
## **THE ALI FOUNDATION**
## **CONTENTS**
||**Page**|
|---|---|
|report|1|
|Accountants' report|2|
|Statement of financial activities|3|
|Balance sheet|4|
|Notes to the financial statements|5 - 7|
## **THE ALI FOUNDATION**
## **REPORT**
## _**FOR THE PERIOD ENDED 31 DECEMBER 2022**_
The Trustees present their annual report and financial statements for the Period ended 31 December 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the 's [governing document], the Charities Act 2011 and "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 2019).
## **Objectives and activities**
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the should undertake.
## **Achievements and performance**
## **Financial review**
It is the policy of the that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the ’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the Period.
## **Structure, governance and management**
The is a company limited by guarantee.
The Trustees who served during the Period and up to the date of signature of the financial statements were: Mr Arshad Ali Mrs Rabia Ali Mr Farha Ali
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The report was approved by the Board of Trustees.
Mr Arshad Ali
31 October 2023
- 1 -
## **THE ALI FOUNDATION**
## **CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE ALI FOUNDATION FOR THE PERIOD ENDED 31 DECEMBER 2022**
In order to assist you to fulfil your duties under the Charities Act 2011, we have prepared for your approval the financial statements of The Ali Foundation for the Period ended 31 December 2022, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made to the charity's Trustees, as a body, in accordance with the terms of our engagement letter dated 31 October 2023. Our work has been undertaken solely to prepare for your approval the financial statements of The Ali Foundation and state those matters that we have agreed to state to the charity's Trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Ali Foundation and the charity's Trustees as a body, for our work or for this report.
It is your duty to ensure that The Ali Foundation has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of The Ali Foundation. You consider that The Ali Foundation is exempt from the statutory audit requirement for the Period, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of The Ali Foundation. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
## **Taylor Associates**
31 October 2023
## **Chartered Accountants**
1st Floor Gallery Court 28 Arcadia Avenue London N3 2FG
- 2 -
## **THE ALI FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE PERIOD ENDED 31 DECEMBER 2022**_
## **Notes**
## **Net income for the Period/**
## **Net movement in funds**
Fund balances at 9 March 2022
## **Fund balances at 31 December 2022**
The statement of financial activities includes all gains and losses recognised in the Period.
All income and expenditure derive from continuing activities.
- 3 -
## **THE ALI FOUNDATION**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2022**_
|**2022**
**Notes**
**£**
**Income funds**
Unrestricted funds
The financial statements were approved by the Trustees on 31 October 2023
Mr Arshad Ali
**Trustee**|**£**|
|---|---|
||-|
||-|
|||
- 4 -
## **THE ALI FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE PERIOD ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
## **Charity information**
The Ali foundation is a charity.
## 1.1 **Reporting period**
The entity was incorporated on 09 March 2022 and its reporting date is 31 December 2022. Therefore the financial statements being presented are for a period shorter than one year.
## **1.2 Accounting convention**
The financial statements have been prepared in accordance with the 's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 2019). The is a Public Benefit Entity as defined by FRS 102.
The has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the . Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
## **1.3 Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.4 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
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 financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the .
## **1.5 Income**
Income is recognised when the is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
- 5 -
## **THE ALI FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
**(Continued)**
Legacies are recognised on receipt or otherwise if the has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
## **1.6 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.7 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the ’s contractual obligations expire or are discharged or cancelled.
- 6 -
## **THE ALI FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE PERIOD ENDED 31 DECEMBER 2022**_
## **2 Critical accounting estimates and judgements**
In the application of the ’s accounting policies, the Trustees are 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 ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the during the Period.
## **4 Employees**
The average monthly number of employees during the Period was:
||**2022**|
|---|---|
||**Number**|
|Total|-|
There were no employees whose annual remuneration was more than £60,000.
## **5 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
## **6 Related party transactions**
There were no disclosable related party transactions during the period.
- 7 -