Registered Charity No. 1198390
## **Trustees’ report and Financial Statements**
For the period 25[th] March 2022 to 31[st] March 2023
|**Contents**||
|---|---|
|**For theperiod ended 31 March 2023**||
||**Page**|
|**Legal and Administrative Details**|1|
|**Trustees’ Annual report**|2 – 3|
|**Independent Examiner’s Report**|4|
|**Statement of Financial Activities**|5|
|**Balance Sheet**|6|
|**Notes to the Financial Statements**|7 –12|
## **Legal and Administrative Details For the period ended 31 March 2023**
**Registered charity no.** 1198390 **Principal address:** 118 Pall Mall London SW1Y 5EA
**Trustees** Hazel Amanda Evans Richard Haldenby Alasdair James Eli Truett Guy Robert Batchelor Simon David Milller
(appointed 25 March 2022) (appointed 16 December 2022) (appointed 25 March 2022) (appointed 25 March 2022) (appointed 25 March 2022)
**Primary Bankers:** Virgin Money UK PLC Jubilee House Newcastle Upon Tyne NE3 4PL
## **Independent Examiner:**
Chaweevan Williams FCCA Chartered Certified Accountant Verdant Accountants Limited 20-22 Wenlock Road London N1 7GU
1
GULAB S1)RKH
FOUNDATION
118, Pall Mall, London, SWIY SEA
26 May 2023
ULA8 S
RKHF
UNDATI
N-ANNiJAL RE
RT2
22-2
l. This report covers Gulab Sorkh Foundation's first year as a registered charity over the period frorn its
registration on 25 Mar 22 and the end ol the financial period which was 31 Mar 23.
2. Charlty Deta115. The Charity is Gulab Sorkh Foundation, re6lStered ar the Charity Cornrni55ion in England as
Charity number 1198390. The re8istered address is 118, Pall Mall, London, SWIA SEA.
3. Charfty Purpose, The purpose of the Charity, as set out in the Constitution, is for the public benefit, the
relief of need and the advancement of education and training of veteran5 of the security forces of United
Kingdorp'5 allies who are or who become refu8ee5 In the United Kingdom, and their families. principally but
not exclusively of the Afghan Relocations and Assistance Policy IARAPI community, by providing grant5.
bursaries, advice, mentorin8 or any other means that the trustees may from time-to-tirne consider
appropriate.
4. tsje Regafd to Public Benefit. The Trustees have had due regard to the guidance issued by the Charity
Cornmis510n on
ublic benefit. They have not departed from that guidance in fulfilling their role,
5. Structu. Governance and manameftt. The Charity'5 governing document IS 1ts Constitution, which
remains unchanged from that agreed by the Charity Commission as it was founded. The Charity is
constituted as a Charitable Incorporated Organisation ICIOI.
6. The tmstèes are Hazel Evans, Simon Miller, Guy Batchelor, Alasdair Truett and Richard Haldenby.
The trustees were appointed on regisrration, apart from Richard Haldenby who w35 appointed on 16 Dec
22.
The Board ol Trustees rneets formally Quarterly. and inforrnally from time-to-tiffle. The Board elected Hazel
Evan5 as the Chairman. Trustees are appointed by the 8oard of Trustee5 for a fixed period of three years,
although this has been sta8gered for the first Trustees to enSts that not all Trustees need replacin6 or re-
appointing In the sarne year.
Trustees are recruited based on their experience. skill and understanding of the needs of the Charl5
beneficiaries and other stakeholders. In particular.. Afghan culture and the context of Afghan and U
military cooperation between 20013nd 2021.. MOD and other Governrnental policy and decision-makin8
with re83rd to the ARAP community,. vocational training and skills development,. educational opportunities,.
Safeguarding policy and practice., charity governance,. ané a willingness to give time freely to the Ch3rity's
work.
The Board of Trustees has appointed Pamela French as the Operations Director to be the overall lead for
the Ch3rity's delivery of charitable activities to our beneficiaries.
8. Activkies and Obj*ttNes. The Trustees, objectives for 2022- 2023 were..
Establish the governan of the Charity. especiaSly data protection, Safeguarding. risk
managernent, trustee training and the agreement ol policies.
b. Source funding to support charitable activities.
GULA• SOAKM FOUNDATION Re8rStèred Charlty t1Mber 1198390
W¥ftw.¢ul•b*arkh.•ii
GULAB SwgRKH
FOUNDATIO
Prtsvide 3 case-work service to beneficiarles.
d. At its meeting on 25 Jan 23, the Trustee5 agreed a particular need to 5UPPQrt En8li5h language
training and citizenship 3nd re501ved to support that activity.
9. Achievements and Performan. During its first year. the Charity ha5 achieved the following..
Provided extènsive t3%e-working support to beneficiaries through the Operations Director.
b. Established an authorilative position with beneficiaries. other charities and a number ol
Government departments.
Signposted beneficiaries to the services of other charities. such as Joboppo ICV workshopsl and
Help for Heroes Iphysical and mental wellbein81.
d. Sourced funding sufficient to manage the Charity and provide ose-working support for around 24
months.
Established its policies and procedure5 a5 described in P3Ta 5a above.
10. The public has benefited from the Charity's work 85 our beneficiaries, by findin8 permanent
èccommodation and érnployment, havè become less of a charge on public funding and are better
assirnilated into local communities across the country. Our language and citizenship advice and training ha5
algo helped their integration Into UK society. A number of UK Government dÈp3rtments and
Parliamentarians are better informed In their policy formulation because of the advice provided by the
Charity's officets and the acce55 the Charity provides to our beTTeficiaries.
11. Financial Review. A report on the charity's Pinancial position at the end of the period 15 being prepared
Verdant Accountant5 and will accornpany this report.
Reserves. The Trustees have eletted not to hold a reserve of fund5. It is their view that it is diligent
for the Charity Should hold around 18-24 months of baseline operating costs to cover flucruation5
in fynd-raisin8 and expenditure. and that any surplus to this Should be expended on charitable
activities. This level of funding Is currently he5d.
b. Golng Concern. The Trustees have no unrtaintleS as to the long-term vrability of the Charity as 3
going concern.
Sources of Funds. The Charity has benefited and continues to benefit from a small number of lar8e
donations frorn private individuals and other charitie5.
d. Funds Held on BehaOf The Charity holds no fun(Js on behalf ol others.
12. Declaratior. The Trustees declare that they have approved the Trustees report above.
Si8ned on behalf of the Charity's Trustees..
Rlchard Haldenby, Secretsry and Trustee
Date.. Sep 26, 2023
Hazel Evans, Chalman and Trustee
Date.. Sep 27, 2023
6VIAts *OUNPATior•
Re8151erEd Charlty Numb*t 119839Q www.iul•bs(4ikh.•rs
## **INDEPENDENT EXAMINER’S REPORT**
## **Independent examiner’s report to Gulab Sorkh Foundation (Charity no 1198390).**
I report to the charity trustees on my examination of the financial statements of the charity for the period 25 March 2022 ended 31 March 2023.
## **Responsibilities and basis of report**
The charity’s trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (‘the Act’). The charity’s trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed.
It is my responsibility to examine the accounts under section 145 of the Charities Act, follow the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act, and state whether particular matters have come to my attention.
## **Independent examiner’s statement**
Where the charity’s gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination by being a registered member of the Chartered Association of Certified Accountants which is one of the listed bodies.
I have completed my examination. I confirm that:
- (1) In connection with my examination, no material matters have come to my attention which give me cause to believe that, in any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Report) Regulation 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.
- (2) 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.
## **Chaweevan Williams FCCA**
Date: 03 October 2023
Verdant Accountants Limited 20-22 Wenlock Road London N1 7GU
4
## **Statement of Financial Activities**
## **For the period 25 March 2022 to 31 March 2023**
|||**Unrestricted **|**Restricted**|**Total**|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
||**Notes**|**Funds**|**Funds**|**Funds**|Funds|Funds|Funds|
|||||**2023**|||2022|
|||**£**|**£**|**£**|£|£|£|
|**Income**||||||||
|Gifts & donations|**2a**|**163,678**|**0**|**163,678**|0|0|0|
|Investment income|**2b**|**0**|**0**|**0**|0|0|0|
|Other income – bank interest|**2c**|**2,067**|**0**|**2,067**|0|0|0|
|**_Total income_**||**165,745**|**0**|**165,745**|0|0|0|
|**Expenditure**||||||||
|Charitable activities|**3a**|**(59,092)**|**0**|**(59,092)**|0|0|0|
|**_Total expenditure_**||**(59,092)**|**0**|**(59,092)**|0|0|0|
|**Net income/(expenditure)**||**106,653**|**0**|**106,653**|0|0|0|
|Gain /(loss) on Investment assets|**9**|**0**|**0**|**0**|0|0|0|
|Gross Transfers between funds|**9**|**0**|**0**|**0**|0|0|0|
|**_Net movements in funds_**||**106,653**|**0**|**106,653**|0|0|0|
|Total funds brought forward at 1 April 2022|**9**|**0**|**0**|**0**|0|0|0|
|**Total funds carried forward at**||||||||
|**31 March 2023**||**106,653**|**0**|**106,653**|0|0|0|
5
GULAB SL?•RKH
FOUNOATION
Balance Sheet
As at 31 March 2023
2022
Flx•d Asséts
Investment aysets Unrestric
Total ffted assets
Current Assets
Debtors
Cash at bank and in hand
108.453
Total CurrentAss•ts
108.453
Current Uabllitl06
Credttors: amounts falliThJ due ry1h1n one year
(1.800)
Not currnnt assets
10Q653
TotslA$$ets less CumtLlallIleS
106,653
Funds
Unrestricted )lJrKIs
Restricted funds
106.653
Total fvnds
106.653
Approved by the Trustees on Ioc¥2o4S and S¥Jr on Iheir behair ty.
Hazel Amanda Evans
Richard Haldenby
Chair l Tnjstse
The nots8 on pages 7 to 12 fomi a part ofthese finan04 sl8twnents.
## **Notes to the Financial Statements**
## **For the period 25 March 2022 to 31 March 2023**
## **1 Accounting policies**
## **a Accounting convention**
The financial statements have been prepared in accordance with applicable accounting standards and the Charities Statement of Recommended Practice (FRS 102) (effective 1 January 2015). The basis of accounting has been changed from Receipts & Payments to an Accrual basis.
The financial statements have been prepared under the historical cost convention and under the going concern basis. The financial statements include all transactions, assets and liabilities for which the charity is responsible in law.
## **b Funds accounting**
Funds held by the charity are:
_Unrestricted funds_ - general funds which can be used for the charity ordinary purposes.
_Restricted funds_ - a) income from trusts which may be expended only on those restricted objects provided in the terms of the trust or bequest; b) donations or grants received for a specific object or invited by the charity for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of the year is carried forward as a balance on that fund unless permission is sought from donors to reallocate the fund.
## **c Incoming resources**
All incoming resources are accounted for gross.
## _**Gifts & donations**_
Donations and gifts are included in full in the Statement of Financial Activities (“SOFA” ) when receivable. Gift Aid is included in the accounts based on amounts recoverable at the balance sheet date.
## _**Investment income**_
Investment income comprises interest receivable on cash balances and income from equity investments. The income is recognised on an accruals basis.
## _**All other income**_
All other income is recognised when it is receivable.
## _**Gains and losses on investments**_
Realised gains are recognised when the investments are sold.
Unrealised gains and losses are accounted for on revaluation at 31 March each year.
7
## **Notes to the Financial Statements (continued)**
## **For the period 25 March 2022 to 31 March 2023**
## **1 Accounting policies (continued)**
## **d Resources used**
Resources expended are accounted for on an accruals basis and are accounted for gross.
## _**Charitable Activities**_
Liability is shown as a creditor in the balance sheet.
## _**Support Costs**_
Support costs are allocated to charitable activities within the SOFA.
## **e Investment**
- Fixed asset investments are included in the balance sheet at their open market value. Any changes in the value in the year whether realised or not, are reported in “Gains/(losses) on investments assets” in the SOFA.
## **f Current Assets**
Amounts owing to the charity as at 31 March in respect of donations or other income are shown as debtors less provision for amounts that may prove uncollectable.
8
## **Notes to the Financial Statements (continued)**
## **For the period 25 March 2022 to 31 March 2023**
|**2 Income**
**2a** **_Gifts & donations_**
Gifts & donations
Gift Aid
**2b** **_Investment income_**
Dividends Income
**2c** **_Other income_**
Bank Interest
**Total Income**|**Total**
Total
Unrestricted
Restricted
**Funds** Unrestricted
Restricted
Funds
funds
funds
**2023**
funds
funds
2022
£
£
**£**
£
£
£|
|---|---|
||163,678
0
163,678
0
0
0
0
0
0
0
0
0|
||163,678
0
**163,678**
0
0
0|
||0
0
0
0
0
0|
||0
0
**0**
0
0
0|
||2,067
0
2,067
0
0
0|
||2,067
0
**2,067**
0
0
0|
|||
||165,745
0
165,745
0
0
0|
9
## **Notes to the Financial Statements (continued)**
## **For the period 25 March 2022 to 31 March 2023**
|**3 **|**Expenditure**|**Expenditure**|||||||
|---|---|---|---|---|---|---|---|---|
||||||**Total**|||Total|
||||**Unrestricted **|**Restricted**|**Funds**|Unrestricted|Restricted|Funds|
||||**funds**|**funds**|**2023**|funds|funds|2022|
||||**£**|**£**|**£**|£|£|£|
|**3a**|**_Charitable activities_**||||||||
|||Gross Salary|**0**|**0**|**0**|0|0|0|
|||Pension|**0**|**0**|**0**|0|0|0|
|||Advertising & Marketing|**1,996**|**0**|**1,996**|0|0|0|
|||Travel|**364**|**0**|**364**|0|0|0|
|||Insurance|**495**|**0**|**495**|0|0|0|
|||Event expenses|**0**|**0**|**0**|0|0|0|
|||IT software and Consumables|**348**|**0**|**348**|0|0|0|
||**_*_**|Consultants|**54,030**|**0**|**54,030**|0|0|0|
|||Accountancy & Examination fees|**1,800**|**0**|**1,800**|0|0|0|
|||Bank charges|**0**|**0**|**0**|0|0|0|
|||Printing & Stationery|**47**|**0**|**47**|0|0|0|
|||General Expenses|**12**|**0**|**12**|0|0|0|
|||**Total expenditure**|**59,092**|**0**|**59,092**|0|0|0|
_*****_ Note: The expenditure on consultants is in respect of engaging the services of a freelance operations director.
10
## **Notes to the Financial Statements (continued)**
## **For the period 25 March 2022 to 31 March 2023**
|**6 Debtors**
Prepayments and accrued income
**7**
**Creditors: amounts falling due within one year**
Accruals
Other creditors
**8**
**Analysis of Net assets by fund**
Net current assets
Investment assets
**At 31 March 2023**
**At 31 March 2022**|**Unrestricted**
**Funds**
**£**
**106,653**
0
**106,653**|**2023**
**£**
**0**
**0**
**2023**
**£**
**1,800**
**0**
**1,800**
**Restricted**
**Funds**
**£**
0
0
**0**|2022
£|
|---|---|---|---|
||||0|
||||0|
||||2022
£
0
0|
||||0|
||||**Total**
**2023**
**£**|
||||**106,653**
**0**|
||||**106,653**|
|||||
||0|0|**0**|
11
## **Notes to the Financial Statements (continued)**
## **For the period 25 March 2022 to 31 March 2023**
## **9 Statement of funds**
|**Unrestricted funds:**
General fund
Investment assets
**Restricted funds:**
Investment assets
Charitable Activities
**Total of Funds**|**Balance**
**b/fwd**
**1 Apr 2022**
**£**
0
0
**0**
0
0
**0**
**0**|**Income Expenditure**
**£**
**£**
165,745
(59,092)
0
0
**165,745**
**(59,092)**
0
0
0
0
**0**
**0**
**165,745**
**(59,092)**|**Gain/(loss)**
on
**Investment**
**£**
0
0
**0**
0
0
**0**
**0**|**Transfers**
**£**
0
0
**0**
0
0
**0**
**0**|**Balance**
**c/fwd**
**31 Mar 2023**
**£**|
|---|---|---|---|---|---|
||||||**106,653**
**0**|
||||||**106,653**|
||||||**0**
**0**|
||||||**0**|
|||||||
||||||**106,653**|
12