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2024-03-31-accounts

K COMMUNITY FOUNDATION Charity Registration number: 1198856

Trustees Annual Report and Accounts For the Period 01/04/2023 to 31/03/2024

Contents

Charity Information .................................................................................................. 2 Trustees’ Annual Report ............................................................................................ 4 Financial Review ...................................................................................................... 6 Financial Statements ............................................................................................... 7

K Community Foundation Annual Report 2024

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Charity Information

K Community Foundation (KCF) is a registered charity. Registered number 1198856.

Correspondence address

23 Hathaway Gardens, Basingstoke, RG24 9BF

Email

contact@kcommunityfoundation.org

Telephone

+44 7825640015

Legal Structure

K Community Foundation is a Charitable Incorporated Organisation (CIO) with a foundational model.

Objectives

The objects of the CIO as per its constitution are: The prevention and relief of poverty for the public benefit in the UK and such parts of the world as the trustees shall determine through the provision of financial support, food, clothing, toiletries, essential household items and guidance on accessing linked social support. This object includes collaboration with other Charities.

The relief of financial need and suffering among people in any part of the world who are the victims of war, natural disaster, trouble, catastrophe or other kinds of disaster through the provision of money (or other means deemed suitable) for individuals, bodies, organisations and/or countries affected.

Reference and Administrative Information

There were a total of 7 Trustees appointed since the Charity was registered on 6 May 2022 and remained in post for the period of this report. Most recently, two Trustees have resigned and one Trustee was appointed on 1 July 2024.

After the founding trustees, the Charity’s constitution states that each trustee will be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees.

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New trustees will be selected by the Board of Trustees based on the skills, knowledge and experience needed for the effective administration of the CIO.

TRUSTEE APPOINTED RESIGNED
DR TAHIR AKBAR – EXECUTIVE DIRECTOR 06/05/2022
MR SAQULAIN FIRDOOSE CHINTAMANI SUBHAN 06/05/2022
MS. NOORIAN RIAZ – GENERAL SCRETARY 06/05/2022
DR AKIF BARLAS – TREASURER 06/05/2022
MR SAQIB ALIQURESHI 06/05/2022
MR ABID USMAN KHALID 06/05/2022 01/07/2024
DR ADAM RAZACK 06/05/2022 01/07/2024
MS. SHAHNAZ DIN 01/07/2024

Bankers: Co-operative Bank

Accountant (voluntary): Cadbury and Jones Ltd, Avicenna House, 258-262 Romford Rd, London, E7 9HZ

Structure, governance and management

The Trustees confirm they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objective and in planning future activities.

The Foundation maintains a comprehensive suite of policies, including:

Adult Safeguarding Child Safeguarding Bullying & Harassment Code of Conduct Complaints Data Protection Equal Opportunities Health & Safety Volunteer Policy

Financial Review

A summary of the year’s financial activities is given in the Statement of Financial Activities. The charity's gross income of £15,798 for the period ended 31 March 2024 is below the independent examination threshold of £25,000. The trustees have prepared the accounts in accordance with the applicable requirements.

Statement of Trustee Responsibilities

The Trustees are responsible for ensuring that proper accounting records are maintained, which accurately reflect the financial position of the charity at any time. This responsibility enables the Trustees to ensure that the financial statements comply with the Charities Act 2011 and relevant regulations. The Trustees are also responsible for safeguarding the charity's assets and taking reasonable steps to prevent and detect fraud and other irregularities.

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Trustees’ Annual Report

The Trustees have pleasure in presenting this Trustee’s Annual report together with the accounts of the K Community Foundation (KCF) for the year ending 31 March 2024.

The financial statements of the charity are prepared in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities” (SORP revised 2021).

Activities

This is the the second Trustee Annual report since the charity was registered with the Commission (6 May 2021), covering a twelve month period and we are proud to have raised funds through fundraising activities, webpage donations and grants that enabled the charity to support multiple beneficiaries through the provisions of food and self-care items.

During the period of this report KCF provided over 1,557 hot meals and 890 school lunches to beneficiaries.

During the period of this report, KCF was awarded 2 grants totalling £2,625.

Food provisions:

Self-care/item provisions:

Providing essential personal/household items (to homeless/low-income families/refugees/asylum seekers):

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Fundraising activities:

Grant applications:

Future Plans

Charity Objectives

Fundraising/Finances

Administrative:

The above report has been prepared in accordance with the applicable provisions of the Charities Act 2011 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board of trustees

Dr Mohammed Tahir Akbar Chair of Trustees Date: 31/01/2025

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Financial Review

A summary of the year’s financial activities is given in the Statement of Financial Activities on page 7.

This was the charity's second year of operation. Unrestricted funds at the year-end totalled £15,798. During the year, two discretionary grants were awarded, amounting to £2,625. The remaining income was derived from donations.

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Financial Statements

K Community Foundation Statement of Financial Activities For the year ended 31 March 2024

Unrestricted
Funds
2024
Notes
£
Income and endowments from:
Charitable activities
4
15,798
Total
15,798
Expenditure on:
Charitable activities
5
8,537
Total
8,537
Net movement in funds
7,261
Reconciliation of funds:
Total funds brought forward
13,555
Incoming resources
15,798
Outgoing resources
(8,537)
Total funds carried forward
20,815		 Unrestricted
Funds
2024
Notes
£
Income and endowments from:
Charitable activities
4
15,798
Total
15,798
Expenditure on:
Charitable activities
5
8,537
Total
8,537
Net movement in funds
7,261
Reconciliation of funds:
Total funds brought forward
13,555
Incoming resources
15,798
Outgoing resources
(8,537)
Total funds carried forward
20,815		 Restricted
Funds
2024
£
0		 Total Funds
Total Funds
2024
2023
£
£
15,798
19,230
15,798
19,230
8,537
5,675
8,537
5,675
7,261
13,555
13,555
0
15,798
19,230
(8,537)
(5,675)
20,815
13,555
0
0
8,537 0
7,261
13,555
15,798
(8,537)		 0
0
0
0
20,815 0

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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K Community Foundation Balance Sheet As at 31 March 2024

Notes
Fixed assets:
Tangible assets
Total
Current Assets
Debtors
Cash at bank
Total
Creditors
Amounts falling due in less than 1 year
Total
Net current assets
Total assets less liabilities
The funds of the charity:
General funds
Total funds		 2024
£
0
0
0
20,815
20,815
0
0
20,815
20,815
20,815
20,815		 2023
£
0
0
0
13,555
13,555
0
0
13,555
13,555
13,555
13,555

The trustees declare that they have approved the trustees' report and accounts. The trustees confirm that they have complied with the requirements of the Charities Act 2011 with respect to accounting records and the preparation of accounts.

As the charity's gross income is below £25,000, an independent examination has not been undertaken.

These accounts have been prepared on a receipts and payments basis in accordance with the Charities Act 2011 and the Charities SORP (FRS 102).

These accounts were approved by the trustees and signed on their behalf by

Dr Mohammed Tahir Akbar Chair of Trustees Date: 31/01/2025

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K Community Foundation Notes to The Accounts For the year ended 31 March 2024

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The charity constitutes a public benefit entity as defined by FRS102.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.

Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

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K Community Foundation Notes to The Accounts For the year ended 31 March 2024

Income

Recognition of income

Income is included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.

Income with related expen Where income has related expenditure the income and related expenditure is reported gross in the SoFA.

Donations and legacies

Tax reclaims on donations and gifts

Income from tax reclaims is included in the SoFA at the same time as the gift/donation to which it relates.

Donated services and facilities

These are only included in income (with an equivalent amount in expenditure) where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help

Investment income Gains/(losses) on revaluation of fixed assets Gains/(losses) on investment assets

The value of any volunteer help received is not included in the accounts.

This is included in the accounts when receivable. This includes any gain or loss resulting from revaluing investments to market value at the end of the year.

This includes any gain or loss on the sale of investments.

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K Community Foundation Notes to The Accounts

For the year ended 31 March 2024

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Expenditure on raising These comprise the costs associated with attracting funds voluntary income, fundraising trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the charitable delivery of its activities and services in the furtherance of its activities objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis.

Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.

Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits

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K Community Foundation Notes to The Accounts

For the year ended 31 March 2024

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability.

Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Statement of cash flows

The charity is exempt from preparing a statement of cash flows on the grounds that it is a small charity

2 Company status

The organisation is a Charitable Incorporated Organisation and consequently does not have share capital. In the event of the charity being wound up the liability of members towards the assets of the charity is limited to £10. The members of the charity are the trustees named on page 3.

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K Community Foundation Notes to The Accounts For the year ended 31 March 2024

3 Statement of Financial Activities - prior year

This is the Charity's second year of activity

4 Income from charitable activities

Income from charitable activities
Unrestricte
d Funds
2024
£
Income and endowments from:
Regular Donations
1,830
Grant Income
2,625
GHH Collaboration
5,000
Just Giving Event
0
Just Giving Generic
0
Website donation
6,343
Total
15,798
Expenditure on charitable activities
Unrestricte
d Funds
2024
£
Expenditure on:
Self care item purchase
0
Food Bank Costs
3,614
Advertising/Promotional
168
Charitable Contributions - gifts/swe
0
Equipment
0
Ingredients
0
Payment for hot meals
4,755
Total
8,537		 Unrestricte
d Funds
2024
£
1,830
2,625
5,000
0
0
6,343		 Restricte
d Funds
2024
£
0
0
0
0
0
0		 Total
Funds
Total
Funds
2024
2023
£
£
1,830
3,249
2,625
3,500
5,000
0
0
3,651
0
5,368
6,343
3,461
0
Restricte
d Funds
2024
£
0
0
0
0
0
0
0		 15,798
19,230
Total
Funds
Total
Funds
2024
2023
£
£
0
92
3,614
0
168
632
0
60
0
140
0
3,471
4,755
1,281
8,537 0 8,537
5,675

5 Expenditure on charitable activities

6 Grant income

The charity received grants of £1,125 from Tesco Community Grants and £1,500 from The Prince Philip Trust Fund, both to support its activities.

7 Related party disclosures

Controlling party

The charity is managed by the trustees; thus no single party controls the organisation.

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