Your Company Name and/or Letter Head
BUSINESS ADVISORS • CHARTERED ACCOUNTANTS • REGISTERED AUDITORS
31 December 2024
Unit C 37 Princelet Street LONDON E1 5LP RA FOUNDATION INTERNATIONAL
Dear ,
Accou n t s for Per iod en ded 3 1 / 0 8 / 2 0 2 4
Please find attached final accounts for RA FOUNDATION INTERNATIONAL for the period ended 31/ 08/ 2024 [ including filleted/ abbreviated accounts if appropriate] .
Please review the attached carefully and if you are happy that the accounts can be approved please print out a set of each of the attached documents, obtain appropriate signatures at the foot of each Balance Sheet [ and Directors Report, if relevant] and return the signed documents to this office.
Please do not hesitate to contact us if you have any queries.
Yours sincerely,
Shiju Mathew
YOUR ADDRESS CAN GO HERE OR WHATEVER YOU MAY WANT IN THE FOOTER TELEPHONE: 01932 840572 FAX: 01932 855584 E-mail: support@btcsoftware.co.uk
RA FOUNDATION INTERNATIONAL
Charity No. 1200273
Company No.
Trustees' Report and Unaudited Accounts
31 August 2024
RA FOUNDATION INTERNATIONAL Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 3 |
| Statement of Financial Activities | 4 to 4 |
| Summary Income and Expenditure Account | 5 to 5 |
| Balance Sheet | 6 to 6 |
| Statement of Cash flows | 7 to 7 |
| Notes to the Accounts | 8 to 13 |
| Detailed Statement of Financial Activities | 14 to 15 |
Page 1
RA FOUNDATION INTERNATIONAL Trustees Annual Report
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 August 2024.
REFERENCEAND ADMINISTRATIVEDETAILS
Company No.
Charity No. 1200273
Registered Office
Unit C 37 Princelet Street LONDON E1 5LP
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
R. ALI
S. Sultana
T. Sultana
Key Management Personnel
Chair
Rahmat Ali
Accountants
AF Accountants Unit F 37 Princelet Street
London
E1 5LP
OBJECTIVESAND ACTIVITIES
The purpose of the charity as set out in its governing document is the prevention or relief of proverty in the UK and Bangladesh by providing Grants, items and services to individuals in need and/or charities, or other organisations working to prevent or relieve proverty.
The main activities undertaken in relation to those purposes are make grants to individuals and organisations and provide services to needy.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 2
RA FOUNDATION INTERNATIONAL
Trustees Annual Report
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
R. ALI
Trustee
31 August 2024
Page 3
RA FOUNDATION INTERNATIONAL Statement of Financial Activities
for the year ended 31 August 2024
| Unrestricted | ||||
|---|---|---|---|---|
| funds | Total funds | Total funds | ||
| 2024 | 2024 | 2023 | ||
| Notes | £ | £ | £ | |
| Income and endowments | ||||
| from: | ||||
| Donations and legacies | 4 | 2,650 | 2,650 | 3,910 |
| Total | 2,650 | 2,650 | 3,910 | |
| Expenditure on: | ||||
| Raising funds | 5 | 800 | 800 | - |
| Charitable activities | 6 | 425 | 425 | 2,000 |
| Other | 7 | 1,056 | 1,056 | 2,015 |
| Total | 2,281 | 2,281 | 4,015 | |
| Net gains on investments | - | - | - | |
| Net income/ (expenditure) | 369 | 369 | (105) | |
| Transfers between funds | - | - | - | |
| Net income/ (expenditure) before other gains/ (losses) |
369 | 369 | (105) | |
| Other gains and losses | ||||
| Net movement in funds | 369 | 369 | (105) | |
| Reconciliation of funds: | ||||
| Total funds brought forward | (105) | (105) | - | |
| Total funds carried forward | 264 | 264 | (105) |
Page 4
RA FOUNDATION INTERNATIONAL Summary Income and Expenditure Account
for the year ended 31 August 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Income | 2,650 | 3,910 |
| Gross income for the year | 2,650 | 3,910 |
| Expenditure | 2,281 | 4,015 |
| Total expenditure for the year | 2,281 | 4,015 |
| Net income/(expenditure) before tax | ||
| for the year | 369 | (105) |
| Net income / (expenditure )for the year | 369 | (105) |
Page 5
RA FOUNDATION INTERNATIONAL Balance Sheet
at 31 August 2024
| Company No. | Notes | 2024 | 2023 |
|---|---|---|---|
| £ | £ | ||
| Current assets | |||
| Cash at bank and in hand | 369 | 650 | |
| 369 | 650 | ||
| Creditors:Amount falling due within one year | 9 | (105) | (755) |
| Net current assets/ (liabilities) | 264 | (105) | |
| Total assets less current liabilities | 264 | (105) | |
| Net assets/ (liabilities) excluding pension asset or liability | 264 | (105) | |
| Total net assets/ (liabilities) | 264 | (105) | |
| The funds of the charity | |||
| Restricted funds | 10 | ||
| Unrestricted funds | 10 | ||
| General funds | 264 | (105) | |
| 264 | (105) | ||
| Reserves | 10 | ||
| Total funds | 264 | (105) |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 August 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 31 August 2024
And signed on its behalf by:
R. ALI
Trustee
31 August 2024
Page 6
RA FOUNDATION INTERNATIONAL Statement of Cash flows
for the year ended 31 August 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income/ (expenditure) per Statement of Financial Activities | 369 | (105) |
| Adjustments for: | ||
| (Decrease)/Increase in trade and other payables | (650) | 755 |
| Net cash (used in)/ provided by operating activities | (281) | 650 |
| Net cash from investing activities | - | - |
| Net cash from financing activities | - | - |
| Net (decrease)/ increase in cash and cash equivalents | (281) | 650 |
| Cash and cash equivalents at the beginning of the year | 650 | - |
| Cash and cash equivalents at the end of the year | 369 | 650 |
| Components of cash and cash equivalents | ||
| Cash and bank balances | 369 | 650 |
| 369 | 650 | |
Page 7
RA FOUNDATION INTERNATIONAL Notes to the Accounts
for the year ended 31 August 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.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
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.
-
Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income 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 Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
-
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 8
RA FOUNDATION INTERNATIONAL Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
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.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 9
RA FOUNDATION INTERNATIONAL Notes to the Accounts
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
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.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
Page 10
RA FOUNDATION INTERNATIONAL
Notes to the Accounts
- 3 Statement of Financial Activities - prior year
| 3 | Statement of Financial Activities - prior year | ||||
|---|---|---|---|---|---|
| Unrestricted | |||||
| funds | Total funds | ||||
| 2023 | 2023 | ||||
| £ | £ | ||||
| Income and endowments from: | |||||
| Donations and legacies | 3,910 | 3,910 | |||
| Total | 3,910 | 3,910 | |||
| Expenditure on: | |||||
| Charitable activities | 2,000 | 2,000 | |||
| Other | 2,015 | 2,015 | |||
| Total | 4,015 | 4,015 | |||
| **Net ** | income | (105) | (105) | ||
| Net income before other gains/ (losses) |
(105) | (105) | |||
| Other gains and losses: | |||||
| **Net ** | movement in funds | (105) | (105) | ||
| Reconciliation of funds: | |||||
| Total funds carried forward | (105) | (105) | |||
| 4 | Income from donations and legacies | ||||
| Unrestricted | Total | Total | |||
| 2024 | 2023 | ||||
| £ | £ | £ | |||
| 2,650 | 2,650 | 3,910 | |||
| 2,650 | 2,650 | 3,910 | |||
| 5 | Expenditure on raising funds | ||||
| Unrestricted | Total | Total | |||
| 2024 | 2023 | ||||
| £ | £ | £ | |||
| Costs of generating voluntary | |||||
| income | |||||
| 800 | 800 | - | |||
| 800 | 800 | - |
Page 11
RA FOUNDATION INTERNATIONAL
Notes to the Accounts
- 6 Expenditure on charitable activities
| 6 | Expenditure on charitable activities | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Total | Total | ||||
| 2024 | 2023 | |||||
| £ | £ | £ | ||||
| Expenditure on charitable | ||||||
| activities | ||||||
| 425 | 425 | 2,000 | ||||
| Governance costs | ||||||
| 425 | 425 | 2,000 | ||||
| 7 | Other expenditure | |||||
| Unrestricted | Total | Total | ||||
| 2024 | 2023 | |||||
| £ | £ | £ | ||||
| Premises costs | 250 | 250 | 1,797 | |||
| General administrative costs | 722 | 722 | 20 | |||
| Legal and professional costs | 84 | 84 | 198 | |||
| 1,056 | 1,056 | 2,015 | ||||
| 8 | Staff costs | |||||
| No employee received emoluments in excess | of £60,000. | |||||
| 9 | Creditors: | |||||
| amounts falling due within one year | ||||||
| 2024 | 2023 | |||||
| £ | £ | |||||
| Loans from trustees | 105 | 755 | ||||
| 105 | 755 | |||||
| 10 | Movement in funds | |||||
| Incoming | ||||||
| At 1 September |
resources (including other gains/ losses |
Resources expended |
At 31 August 2024 |
|||
| 2023 | ) | |||||
| £ | £ | £ | ||||
| Restricted funds: | ||||||
| Unrestricted funds: | ||||||
| General funds | (105) | 2,650 | (2,281) | 264 | ||
| Total funds | (105) | 2,650 | (2,281) | 264 |
Page 12
RA FOUNDATION INTERNATIONAL
Notes to the Accounts
11 Analysis of net assets between funds
| Unrestricted funds |
Total | ||||||
|---|---|---|---|---|---|---|---|
| £ | £ | ||||||
| Net current assets | 264 | 264 | |||||
| 264 | 264 | ||||||
| 12 | **Reconciliation of net ** | debt | |||||
| At 1 | At 31 | ||||||
| September | August | ||||||
| 2023 | Cash flows | 2024 | |||||
| £ | £ | £ | |||||
| Cash and cash equivalents | 650 | (281) | 369 | ||||
| 650 | (281) | 369 | |||||
| Net debt | 650 | (281) | 369 | ||||
- 13 Related party disclosures Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 13
RA FOUNDATION INTERNATIONAL Detailed Statement of Financial Activities
for the year ended 31 August 2024
| Unrestricted | |||
|---|---|---|---|
| funds | Total funds | Total funds | |
| 2024 | 2024 | 2023 | |
| £ | £ | £ | |
| Income and endowments from: | |||
| Donations and legacies | |||
| 2,650 | 2,650 | 3,910 | |
| 2,650 | 2,650 | 3,910 | |
| Total income and endowments | 2,650 | 2,650 | 3,910 |
| Expenditure on: | |||
| Costs of generating donations and | |||
| legacies | |||
| 800 | 800 | - | |
| 800 | 800 | - | |
| Total of expenditure on raising | 800 | 800 | - |
| funds | |||
| Charitable activities | |||
| 425 | 425 | 2,000 | |
| 425 | 425 | 2,000 | |
| Total of expenditure on charitable activities |
425 | 425 | 2,000 |
| Premises costs | |||
| Rent | 250 | 250 | 1,797 |
| 250 | 250 | 1,797 | |
| General administrative costs, | |||
| including depreciation and | |||
| amortisation | |||
| Bank charges | 2 | 2 | - |
| Equipment expensed | 420 | 420 | - |
| Stationery and printing | 300 | 300 | 20 |
| 722 | 722 | 20 | |
| Legal and professional costs | |||
| Other legal and professional | 84 | 84 | 198 |
| costs | |||
| 84 | 84 | 198 | |
| Total of expenditure of other costs | 1,056 | 1,056 | 2,015 |
| Total expenditure | 2,281 | 2,281 | 4,015 |
| Net gains on investments | - | - | - |
| Net income/ (expenditure) | 369 | 369 | (105) |
| Net income/ (expenditure) before other gains/ (losses) |
369 | 369 | (105) |
Page 14
RA FOUNDATION INTERNATIONAL Detailed Statement of Financial Activities
| Other Gains | - | - | - |
|---|---|---|---|
| Net movement in funds | 369 | 369 | (105) |
| Reconciliation of funds: | |||
| Total funds brought forward | (105) | (105) | - |
| Total funds carried forward | 264 | 264 | (105) |
Page 15