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Charity Registration No. 119883898838
GALHINNA WELFARE ASSOCIATION UK
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2023
Docusign Envelope ID: 1B03A060-88D2-4042-9046-761DBBFBC0ED
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GALHINNA WELFARE ASSOCIATION UK
CONTENTS
| Page | |
|---|---|
| Legal and Administrative information | 1 |
| Trustees report | 2- 4 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8- 13 |
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GALHINNA WELFARE ASSOCIATION UK
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr Mohamed Iyas Uvais Mr M Junaideen M Rizvi Mr Rasheed Mohamed Akbar Mr Mohamed Amanullah Mr Ahamed I Mohamed Imran Mr Mohamed Ikram M Ilyas Mr M Arshad Abdul Latheef Mr Manas Mohamed Mahroof Mr Hazam Hafeel Mr Mohamed Wazeem Mr Abdul Aleem M M Mr Fairoos Raheem Mr Abdul Qadir Hamza Mr M Raffi M Thajudeen Mr M I Mohamed Imran Mr A M Mohamed Masahir Mr M Fahir Mohamed Fareed Mr M I Mohamed Iqbal Mr M Jaleel A Jesmin Mr M Safeer M Sally Mr Mohamed Sharaf Munaf Charity number 1198838 Principal address 51 Ingleby Road Ilford IG1 4RX
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GALHINNA WELFARE ASSOCIATION UK
TRUSTEES REPORT
FOR THE PERIOD ENDED 31 MARCH 2023
The Trustees present their report and financial statements for the year ended 31 March 2023..
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 CIO's constitution, 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)" (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
Our objectives are set to reflect our faith and community aims. Each year our trustees review our objectives and activities to ensure they continue to reflect our aims. In carrying out this review the trustees have considered the Charity Commission's general guidance on public benefit and in particular its supplementary public guidance on the advancement of religion for the public benefit.
Our aims remain to provide a community support to the Sri Lankan Muslim in Sri Lanka struggling day to day life by financially.
The objects of the charity are set out in the charity's constitution and are summarised as:
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To advance education of School and Madrasa pupils in Galhinna, Sri Lanka by providing and assisting in the provision of educational facilities.
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To improve conditions of Life for the inhabitants of Galhinna, Sri Lanka.
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To relieve Financial hardship by such means as determined by the Charity including the provision of Grants to those in needs.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the CIO should undertake.
OBJECTIVES AND ACTIVITIES Significant activities
Charitable activities
The charity carries out a wide range of activities in pursuance of its charitable aims. The trustees consider that these activities,
ACHIEVEMENT AND PERFORMANCE Charitable activities
FINANCIAL REVIEW
Principal funding sources
Our Association's main sources of income are regular community members' donations and through fund raising events
Reserves policy
The trustees have reviewed the reserves of the charity. Their policy is to hold sufficient funds to meet operating costs of the Association
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GALHINNA WELFARE ASSOCIATION UK
Achievements and performance
Financial review
It is the policy of the CIO 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 considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue ' the CIO 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 year.
The Trustees has assessed the major risks to which the CIO is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
Galhinna Welfare Association UK is constituted as a Charitable Incorporated Organisation registered with the Charity Commission on 05[th] May 2022 under charity number 1198838. It is governed by constitution.
The Trustees who served during the year and up to the date of signature of. The financial statements were:
Mr Mohamed Iyas Uvais Mr M Junaideen M Rizvi Mr Rasheed Mohamed Akbar Mr Mohamed Amanullah Mr Ahamed I Mohamed Imran Mr Mohamed Ikram M Ilyas Mr M Arshad Abdul Latheef Mr Manas Mohamed Mahroof Mr Hazam Hafeel Mr Mohamed Wazeem Mr Abdul Aleem M M Mr Fairoos Raheem Mr Abdul Qadir Hamza Mr M Raffi M Thajudeen Mr M I Mohamed Imran Mr A M Mohamed Masahir Mr M Fahir Mohamed Fareed Mr M I Mohamed Iqbal Mr M Jaleel A Jesmin Mr M Safeer M Sally Mr Mohamed Sharaf Munaf
None of the Trustees has any beneficial interest in the CIO.
The trustees are responsible for the general control and management of the charity.
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GALHINNA WELFARE ASSOCIATION UK
Risk management
The trustees have assessed the risks the charity faces and have drawn up a risk matrix which identifies the major risks by area of activity, the nature of those risks, the likelihood of the risks happening, and the measures taken to manage them. The trustees review this risk matrix regularly at their meetings. The trustees are satisfied that systems are in place.
The Trustees report was approved by the Board of Trustees on 01[st] October 2024
……………………….. …………………………………. Trustee Trustee Ahamed I Mohamed Imran-President Mohamed Amanullah -Treasurer
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GALHINNA WELFARE ASSOCIATION UK
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 March 2023
| Unrestricted | Restricted | Total | Total | |||||
|---|---|---|---|---|---|---|---|---|
| funds | funds | |||||||
| 2023 | 2023 | 2023 | 2022 | |||||
| 2Notes | £ | £ | £ | £ | ||||
| Income and endowments from: | ||||||||
| Regular Donation | 2 | 0 | 0 | 0 | ||||
| Surplus income from Events | 3 | 0 | 0 | 0 | ||||
| Other receipts | 2 | 0 | 0 | 0 | 0 | |||
| Total income | 0 | 0 |
0 | 0 | ||||
| Expenditure on: | ||||||||
| Charitableactivities | 4 | 0 | 0 |
0 | 0 | |||
| Other Expenses | 0 | 0 | 0 | |||||
| Total Expenditure | 0 |
0 |
0 | |||||
| Net income for the year/ | ||||||||
| Net movement in funds | 0 | 0 |
0 | 0 | ||||
| Fund balances at1 April 2022 | 0 |
0 | 0 | 0 | ||||
| Fund balances at 31 March 2023 | 0 | 0 | 0 | 0 |
The statement of financial activities includes all gains and losses recognized in the year.
All income and expenditure derive from continuing activities.
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GALHINNA WELFARE ASSOCIATION UK
BALANCE SHEET
AS AT 31 MARCH 2023
| Notes Fixed assets Current assets Cash at bank andinhand Debtors Creditors: amounts falling due within one year Netcurrent assets Total assets less current liabilities Net Income funds Restricted funds/ Unrestrictedfunds |
2023 £ £ 0 0 0 0 0 0 |
2023 £ £ 0 0 0 0 0 0 |
2022 £ 0 0 |
£ |
|---|---|---|---|---|
| 0 0 |
0 0 |
|||
| 0 0 |
0 | |||
| 0 |
The financial statements were approved by the Trustees on 01[st] October 2024
……………………….. ………………………………….
Trustee Trustee Ahamed I Mohamed Imran-President Mohamed Amanullah -Treasurer
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GALHINNA WELFARE ASSOCIATION UK
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
1 Accounting policies
Charity information
Galhinna Welfare Association UK is incorporated as charitable incorporated organisation (CIO).
1.1 Accounting convention
The financial statements have been prepared in accordance with the CIO's constitution, 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)" (as amended for accounting periods commencing from 1 January 2016). The CIO is a Public Benefit Entity as defined by FRS 102.
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 CIO. Monetary amounts in these financial statements are rounded to the nearest£.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the CIO 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.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
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.
1.4 Incoming resources
Income is recognised when the CIO 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 CIO 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.
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GALHINNA WELFARE ASSOCIATION UK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
1 Accounting policies
(Continued)
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business.
1.5 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.
1.6 Financial instruments
The CIO has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the CIO's balance sheet when the CIO becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Docusign Envelope ID: 1B03A060-88D2-4042-9046-761DBBFBC0ED
GALHINNA WELFARE ASSOCIATION UK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
1 Accounting policies
(Continued)
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 CIO's contractual obligations expire or are discharged or cancelled.
2 Trustees
None of the trustees received any remuneration during the year.
3 Employees
No employees during the year