Registered Charity No. 1198390 ## **Trustees’ Report and Financial Statements** For the year ended 31[st] March 2024 |**Contents**|| |---|---| |**For theyear ended 31 March 2024**|| ||**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 year ended 31 March 2024** **Registered charity no.** 1198390 **Principal address:** Floors 1-3 4-5 High Town Hereford HR1 2AA **Trustees** Hazel Amanda Evans Richard Haldenby Alasdair James Eli Truett Guy Robert Batchelor Simon David Milller **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 0 ## GULAB SORKH FOUNDATION 118, Pall Mall, London, SWIY 5EA ## 15 August 2024 ## GUI-AB SORKH FOUNDATION - ANNUAL REPORT 2023 - 2024 1. This report covers Gulab Sorkh Foundation's second year as a registered charity over the period 1 Apr 23 and the end of the financial period on 31 Mar 24. 2. Charity Details. The Charity is Gulab Sorkh Foundation, registered at the Charity Commission in England as Charity number 1198390. The registered address is 118, Pall Mall, London, SWIA SEA. 3. Charity 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 veterans of the security forces of United Kingdom's allies who are or who become refugees in the United Kingdom, and their families, principally but not exclusively of the Afghan Relocations and Assistance Policy (ARAP) community, by providing grants, bursaries, advice, mentoring or any other means that the trustees may from time-to-time consider appropriate. 4. Due Regard to Public Benefit. The Trustees have had due regard to the guidance issued by the Charity Commission on public benefit. They have not departed from that guidance in fulfilling their role. 5. Structure, Governance and Management. The Charity's governing document is its Constitution, which remains unchanged from that agreed by the Charity Commission as it was founded. The Charity is constituted as a Charitable Incorporated Organisation (CIO). 6. The trustees are Hazel Evans, Simon Miller, Guy Batchelor, Alasdair Truett and Richard Haldenby. The trustees were appointed on registration, apart from Richard Haldenby who was appointed on 16 Dec 22. During this period, Simon Miller was re-appointed as a trustee for three years to March 2027. The Board of Trustees meets formally quarterly, and informally from time-to-time. The Board elected Hazel Evans as the Chairman. Trustees are appointed by the Board of Trustees for a fixed period of three years. Trustees are recruited based on their experience, skill and understanding of the needs of the Charity's beneficiaries and other stakeholders. In particular: Afghan culture and the context of Afghan and UK military cooperation between 2001 and 2021; MOD and other Governmental policy and decision-making with regard to the ARAP community; vocational training and skills development; educational opportunities; Safeguarding policy and practice; charity governance; and a willingness to give time freely to the Charity's work. 7. The Board of Trustees has appointed Pamela French as the Operations Director to be the overall lead for the CharitVs delivery of charitable activities to our beneficiaries. 8. Activities and Objectives. The Trustees' objectives for 2023 — 2024 were: - a. Maintain effective governance of the Charity, especially data protection, Safeguarding, risk management and the agreement of policies. - b. Source funding to support charitable activities. - c. Provide a case-work service to beneficiaries. 2 GULAB SORKH FOUNDATION Registered Charity Number 1198390 www.gulabsorkh.org ## GULAB SORKH FOUNDATION d. Support English language training and citizenship. 9. Achievements and Performance. During its second year, the Charity has achieved the following: a. Provided extensive case-working support to beneficiaries through the Operations Director. b. Established an authoritative position with beneficiaries, other charities and a number of Government departments. c. Signposted beneficiaries to the services of other charities. d. Sourced funding sufficient to manage the Charity and provide case-management support. 10. The public has benefited from the Charity's work as our beneficiaries, by finding permanent accommodation and employment, have become less of a charge on public funding and are better assimilated into local communities across the country. Our language and citizenship advice and training has also helped their integration into UK society. A number of UK Government departments and Parliamentarians are better informed in their policy formulation because of the advice provided by the Charity's officers and the access the Charity provides to our beneficiaries. 11. Financial Review. A report on the charitVs financial position at the end of the period is being prepared by Verdant Accountants and will accompany this report. a. Reserves. The Trustees have elected not to hold a reserve of funds. It is their view that it is diligent for the Charity should hold around 18-24 months of baseline operating costs to cover fluctuations in fund-raising and expenditure, and that any surplus to this should be expended on charitable activities. This level of funding is not currently held, and Trustees are addressing this issue as a matter of urgency. - b. Going Concern. The Trustees have no uncertainties as to the long-term viability of the Charity as a going concern. - c. Sources of Funds. The Charity has benefited and continues to benefit from a small number of large donations from private individuals and other charities. - d. Funds Held on Behalf of Others. The Charity holds no funds on behalf of others. - 12. Declarations. The Trustees declare that they have approved the Trustees report above. Signed on behalf of the Charity's Trustees: Richard Haldenby, Secretary and Trustee Date: Hazel Evans, Chairman and Trustee tngucev\-æ Date: eq 3 GULAB SORKH FOUNDATION Registered Charity Number 1198390 www.gulabsorkh.org ## **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 year ended 31 March 2024. ## **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: 02 January 2025 Verdant Accountants Limited 20-22 Wenlock Road London N1 7GU 4 ## **Statement of Financial Activities** ## **For the year ended 31 March 2024** |**Notes**
**Income**
Gifts & donations
**2a**
Investment income
**2b**
Other income – bank interest
**2c**
**Expenditure**
Charitable activities
**3a**
**_Total expenditure_**
Gain /(loss) on Investment assets
**8**
Gross Transfers between funds
**8**
**_Net movements in funds_**
Total funds brought forward at 1 April 2023
**8**
**8**
**_Total income_**
**Net income/(expenditure)**
**Total funds carried forward at 31**
**March 2024**|**Unrestricted Restricted**
**Total**
Unrestricted
Restricted
Total
**Funds**
**Funds**
**Funds**
Funds
Funds
Funds
**2024**
2023
**£**
**£**
**£**
£
£
£| |---|---| ||**27,761**
**75,000**
**102,761**
163,678
0
163,678
**0**
**0**
**0**
0
0
0
**3,894**
**0**
**3,894**
2,067
0
2,067| ||**31,655**
**75,000**
**106,655**
165,745
0
165,745| ||**(82,954)**
**(44,542)**
**(127,496)**
(59,092)
0
(59,092)| ||**(82,954)**
**(44,542)**
**(127,496)**
(59,092)
0
(59,092)| ||**(51,299)**
**30,458**
**(20,841)**
106,653
0
106,653
**0**
**0**
**0**
0
0
0
**0**
**0**
**0**
0
0
0| ||**(51,299)**
**30,458**
**(20,841)**
106,653
0
106,653| ||**106,653**
**0**
**106,653**
0
0
0| ||**55,354**
**30,458**
**85,812**
106,653
0
106,653| 5 GULAB S RKH FOUNDATIO Balan￿ Sheét As at 31 March 2024 Flx•d Aswts Tar￿l￿e Assets Total ffxodassrfs 1.164 Cash at bank and In haTrJ 108,453 Total CunEntAss•ts 94579 108.453 Curront Uabllltlos Creditors: all￿Trts fallirwJ dug ¥*Itr￿n C￿ year 19.931} (1.8￿> Ngt cunBnt as80ts 11A,653 85.812 106,653 Funds Unrestrfcted fvnds Restri￿ed fiJnds 7-8 74 55,354 30A58 Total funds 84812 Apyroved by the Tr￿teeS on and sigrfftl their b8halfty. Chair l Tn ## **Notes to the Financial Statements** ## **For the year ended 31 March 2024** ## **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 year ended 31 March 2024** ## **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 Tangible Fixed Assets** Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. All assets costing more than £450 are capitalised. Depreciation is provided on all tangible assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: Computer Equipment 20% straight line Plant, fixtures and fittings 20% straight line ## **f 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. ## **g 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 year ended 31 March 2024** |**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
**2024**
funds
funds
2023
£
£
**£**
£
£
£| |---|---| ||27,761
75000
102,761
163,678
0
163,678
0
0
0
0
0
0| ||27,761
75,000
**102,761**
163,678
0
163,678| ||0
0
0
0
0
0| ||0
0
**0**
0
0
0| ||3,894
0
3,894
2,067
0
2,067| ||3,894
0
**3,894**
2,067
0
2,067| ||| ||31,655
75,000
106,655
165,745
0
165,745| 9 ## **Notes to the Financial Statements (continued)** ## **For the year ended 31 March 2024** |**3 **|**Expenditure**|**Expenditure**||||||| |---|---|---|---|---|---|---|---|---| ||||||**Total**|||Total| |||**Unrestricted **||**Restricted**|**Funds**|Unrestricted|Restricted|Funds| ||||**funds**|**funds**|**2024**|funds|funds|2023| ||||**£**|**£**|**£**|£|£|£| |**3a**|**_Charitable activities_**|||||||| |||Gross Salary|**0**|**44,542**|**44,542**|0|0|0| |||Pension|**0**|**0**|**0**|0|0|0| |||Advertising & Marketing|**245**|**0**|**245**|1996|0|1,996| |||Travel|**3,628**|**0**|**3,628**|364|0|364| |||Insurance|**522**|**0**|**522**|495|0|495| |||Event expenses|**0**|**0**|**0**|0|0|0| |||IT software and Consumables|**538**|**0**|**538**|348|0|348| |||Telephone & Internet|**916**|**0**|**916**|0|0|0| ||**_*_**|Consultants|**60,000**|**0**|**60,000**|54,030|0|54,030| |||Accountancy, Payroll & Examination|**2,478**|**0**|**2,478**|1,800|0|1,800| |||Bank charges|**0**|**0**|**0**|0|0|0| |||Printing & Stationery|**0**|**0**|**0**|47|0|47| |||General Expenses|**14,336**|**0**|**14,336**|12|0|12| |||Depreciation|**291**|**0**|**291**|0|0|0| |||**Total expenditure**|**82,954**|**44,542**|**127,496**|59,092|0|59,092| ## _*****_ 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 year ended 31 March 2024** ## **4 Tangible fixed assets** **Cost** At 1 April 2023 Additions At 31 March 2024 **Depreciation** At 1 April 2023 Charge for the year At 31 March 2024 |**Computer**
**Equipment**
**£**
0
1,455
**1,455**
0
291
**291**|**Total**
**Assets**
**£**| |---|---| ||0
1,455| ||**1,455**| ||0
291| ||**291**| **Net book value** At 31 March 2024 At 31 March 2023 **5 Debtors** Prepayments and accrued income |**1,164**
0
**2024**
**£**
**0**
**0**|**1,164**| |---|---| ||0| ||2023
£| ||0| ||0| ## **6 Creditors: amounts falling due within one year** |**Creditors: amounts falling due within one year**|||| |---|---|---|---| |Accruals
Other creditors
- Tax & NI
**Analysis of Net assets by fund**
Fixed assets
Net current assets
Investment assets
**At 31 March 2024**
**At 31 March 2023**|**Unrestricted**
**Funds**
**£**
**1164**
**54,190**
0
**55,354**
106,653|**2024**
**£**
**1,890**
**8,041**
**9,931**
**Restricted**
**Funds**
**£**
**0**
30,458
0
**30,458**
0|2023
£| ||||1,800
0| ||||1,800| ||||**Total**
**2023**
**£**| ||||**1,164**
**84,648**
**0**| ||||**85,812**| ||||| ||||106,653| ## **7 Analysis of Net assets by fund** 11 ## **Notes to the Financial Statements (continued)** ## **For the year ended 31 March 2024** ## **8a Statement of funds 2024** |**Unrestricted funds:**
General fund
Investment assets
**Restricted funds:**
Investment assets
Charitable Activities
**Total of Funds**
**Statement of funds year**
Unrestricted funds:
General fund
Investment assets
Restricted funds:
Investment assets
Charitable Activities
Total of Funds|**Balance**
**b/fwd**
**1 Apr 2023**
**£**
106,653
0
**106,653**
0
0
**0**
**106,653**
**2023**
Balance
b/fwd
1 Apr 2022
£
0
0
0
0
0
0
0|**Income Expenditure**
**£**
**£**
31,655
(82,954)
0
0
**31,655**
**(82,954)**
0
0
75000
(44,542)
**75,000**
**(44,542)**
**106,655**
**(127,496)**
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**
Gain/(loss)
on
Investment
£
0
0
0
0
0
0
0|**Transfers**
**£**
0
0
**0**
0
0
**0**
**0**
Transfers
£
0
0
0
0
0
0
0|**Balance**
**c/fwd**
**31 Mar 2024**
**£**| |---|---|---|---|---|---| ||||||**55,354**
**0**| ||||||**55,354**| ||||||**0**
**30,458**| ||||||**30,458**| ||||||| ||||||**85,812**| ||||||Balance
c/fwd
31 Mar 2023
£| ||||||106,653
0| ||||||106,653| ||||||0
0| ||||||0| ||||||| ||||||106,653| ## **8b Statement of funds year 2023** 12