Compossion For Everyone •¢ , NI,IAL I 11¥. 4.
ALLAH, IN THE NAME OF ALLAH THE MOST BENEFICENT, THE MOST MERCIFUL WELCOME TO FGRF HUMANITARIAN SUPPORT FOR PALESTIN" •J, IF:RF F-RFI
ADMINISTRATIVE DEfAILS Trustees: Mr Rezwan Ali Asghar Mr Syed Muhammad Faisal Sami Mr Rizwan Rasheed Mr Muhammad Shahzad Asghar Chairman of Trustees: Mr Rezwan Ali Asghar Registered Charity number: 1200869 Principal address: 284 Witton Road, Birmingham, B6 6NX Auditors: Riaz Ahmad & Co Chartered Certif led Accountants Lord House 51 Lord Street Manchester M31HE
CONTENT . PAGES About Us Message f rom the Chair of Trustees 04 The Trustees 05 Our Vision and Strategy 06 Environmental Sustainability 07 Free Health Checks 08 Aid to Gaza (Palestine) 09 Global Reach 10 Financial Review Statement of Trustees 15 Independent Auditor's Report 16-19 Financial Statement 20-36
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ABO us Faizan Global Relief Foundation UK (FGRF UK), a non-governmental organisation, is dedicated to fostering community-led, holistic solutions for long-term impact on a global scale.The foundation engages in diverse initiatives such as Environmental With the increasing f requency and severity of natural disasters like floods and earthquakes, FGRF UK remains dedicated to alleviating the suffering of victims and actively contributing to disaster management efforts. Pollution Prevention, tree planting, food donations, Education, Technical Skills, and Healthcare. Operating in emergency relief, hard-to-reach areas, and helping in disaster relief situations, FGRF UK functions as a comprehensive solutions ecosystem. The organisation's multifaceted development approach is designed to empower communities and individuals, enabling self-reliance and sustainable prog ress. Environment Department: Faizan Global Relief Foundation UK (FGRF UK) emerges as a crucial entity in managing and preserving natural resources dispersed across diverse geographical boundaries, including remote and inaccessible areas. Comprising a dedicated group, FGRF UK focuses on understanding internal resource relationships, assessing requirements, saving the environment, and planning resource management. This organisation collaborates with the government to gather pertinent information, facilitating the promotion and implementation of key environmental landscape, heightened environmental awareness and enforcement are imperative. Disaster Management and Food: During disasters, FGRF UK plays a pivotal role in quick response, aiming to save lives with the available funds and donating food. The organisation engages in providing disaster relief materials, organising health camps, participating in rescue operations, and arranging temporaryshelters. Effective disaster management relies on timely information from affected areas. ANNUAL REPORT 2024 PG.01
ABOLrr FGRF UK plays a pivotal role in global recognition for its involvement in environmental protection, intervening in areas such as awareness generation, planting trees, resource development and documentation, introduction of alternative livelihoods, coordination with government departments, and habitat monitoring, management, and restoration. The foundation's multifaceted approach underscores its commitment to addressing the urgent and demanding needs of environmental conservation on a global scale. Healthcare: Faizan Global Relief Foundation UK (FGRF UK) focuses on addressing healthcare services to underserved populations with limited or no access to healthcare facilities. Operating health assessment centres and disaster management work around the world. The foundation's success is attributed to flexible planning and population-based projects that encompass health education, promotion, social marketing, community development, and advocacy. ANNUAL REPORT 2024 PG.02
COUNTRIES OF . PERATION Our Global Impact: Bridging Hope Across Borders Faizan Global Relief Foundation (FGRF UK) extends its humanitarian efforts across different countries, including United Kingdom, Pakistan, Turkiye, Afghanistan, Palestine, Morocco, Libya, Syria, Bangladesh, Kenya, Malawi, Mozambique, South Af rica and Tanzania. . KL&i ANNUAL REPORT 2024 PG.03
MESSAGE FROM THE CHAIRMAN OF TRUSTEES Dear Members, Supporters, and Friends, As the Chair of Trustees, it is my privilege to address you today and reflect on the incredible work our organisation has accomplished in the f ield of welfare. Our mission to support and uplift those in need has never been more critical, and your unwavering dedication and generosity continue to be the driving force behind our success. Over the past year, we have faced numerous challenges, but thanks to your commitment and our collective efforts, we have achieved signif icant milestones. Our team of volunteers, staff, and partners have shown remarkable resilience and innovation, adapting to changing circumstances and f inding new ways to deliver essential services. Whether it's through providing food, shelter, healthcare, or emotional support, every act of kindness and every contribution has made a difference. I would like to take this opportunity to express my heartfelt gratitude to each one of you. Your support, whether through time, resources, or donations, has been invaluable. Together, we are creating a communitywhere everyone has the opportunity to thrive, and no one is left behind. As we look ahead, we remain committed to our mission and to finding new ways to enhance our impact. There is still much work to be done, and we need your continued support to reach our goals. Let us continue to stand together, united in our vision of a better future for all. ANNUAL REPORT 2024 PG.04
. TRUSTEES OUR REZWAN ALI ASGHAR TRUSTEE SYED MUHAMMAD FAISAL SAMI TRUSTEE l/ r, MUHAMMAD SHAHZAD ASHRAF TRUSTEE RIZWAN RASHEED TRUSTEE ANNUAL REPORT 2024 PG.05
OUR . visio . STRATEGY AND Compassion for Everyone FGRF is committed to supporting those in need worldwide, offering relief and assistance to individuals and communities facing hardship." INING SMIIES Is FOJRF GAZA PALESTINE ~ HELP US TO HELP THEM WATER TANKS BY FGRF JUNE 2024 NUMBER IX( ANNUAL REPORT 2024 PG.06
ENVIRONMENTAL SUSTAINABIILITY To address the global climate change crisis and to help reduce urban air pollution, FGRF has embarked on a forestation and plantation campaign under a Green Pakistan Initiative. Our slogan is PLANT A SAPLIN, GROW A TREE. To date, activities have been undertaken nationally in parks, urban areas, roads and neighbourhood plantations. 4 MILLION+ SAPLINGS PLANTED 26 URBAN FORESTS CULTIVATED FLJRF -Jil ANNUAL REPORT 2024 PG.07
FREE EALTH CHECK Community health checks play a crucial role in the early detection of major illnesses. FGRF has launched a national campaign to provide f ree assessments, which include BMI checks and blood pressure checks. Following the tests, participants receive advice on improving their health and lifestyle. FAIZAN GLOBAL RELIEF FOUNOATIOM UK &d. FREE Fo)RF FAIZAX GIO8AL REUEF $11010¥ LW >%4 FREE HEYALT kH,ECKS FREE BMI & BLOOD PRESSURE CHECKS ANNUAL REPORT 2024 PG.08
AIDTO . GAZA (PALESTINE FGRF is providing an incredible range of essential aid to those in need in Gaza, including: CLEAN WATER COOKED HOT FLOUR IOts,uO( MILLION LITRES KILOS CAKES FOR WARM CLOTHES & WINTER ESSENTIALS FOOD PACKS s,000 KIDS 20.000 VEGEfABLE CASH ASSISTANCE HYGIENE KITS 5,000 6,500 FAMILIES FAMILIES BLANKETS HIJABS MEDICINE iv0 2,000 FAMILIES MAThRESSES TENT HOUSES INFANT MILK & DIAPERS 1,100 600 FAMILIES 6.000 FGRF has successfully dispatched a total of 8 containers to date, delivering vital aid to those most in need in Gaza. ANNUAL REPORT 2024 PG.09
OUR LOBAL REACH Our Global Impact: Bridging Hope Across Borders Faizan Global Relief Foundation (FGRF UK) extends its humanitarian efforts across different countries, including United Kingdom, Pakistan, Turkiye, Afghanistan, Palestine, Morocco, Libya, Syria, Bangladesh, Kenya, Malawi, Mozambique, South Af rica and Tanzania. Our work focuses on providing essential aid, such as clean water, food, healthcare, and education, to communities facing poverty and hardship, while also offering disaster relief and supporting sustainable development. South Africa Pakistan Tanzania Bangladesh Throughout England And Wales Mozambique . Kenya Malawi ANNUAL REPORT2024 PG.10
FINANCIAL . EVIEW ANNUAL REPORT 2024 PG.11
FINANCIAL REVIEW REPORT OF THE TRUSTEES The trustees present the annual report together with the f inancial statements and auditors, report of the charity for the year ended 31 October 2024. from earthquake victims in Afghanistan, Libya, Turkey and Morocco, flood victims in Bangladesh, sheltered housing in Balochistan, Pakistan to distributing food parcels in Palestine. Objectives and activities Objectives and aims Fundraising disclosures Faizan Global Relief Foundation is dedicated Our fundraising is mainlythrough online to fostering community led holistic campaigns and donations are received solutions for long term impact on global predominantly directly into the Bank. scale. It engages indiverse initiatives such as environmental sustainability, food donations. education, technical skills and healthcare. It operates in emergency relief, hard to reach areas and helping in disaster relief situations. Public benef it All our activities are aimed for the direct benef it of the members of public both in the short term and long term. we utilise best available chanels to recach the victims and benef iciaries and we aim to Our approach is to empower communities and individuals enabling self-reliance and sustainable progress. leave a lasting and positive impact on their lives. We have provided thousands offood Our aim is to alleviate sufferings of deprived parcels, water tanks, sanitary products, communities throughout the world, accomodation facilities and other forms reaching out in emergencies, natural of relief for the poor and needy. disasters and man made sufferings. We prefer to implement sustainable solutions to The trustees conf irm that they have prevent reoccurrence and mitigate the complied with the requirements of section impact of any future events. 17 of the Charities Act 2011 to have due regard to the public benef it guidance published bythe Charity Commission for England and Wales. Objectives strategies and activities Thisyear has been busy with various disaster stricken areas around the world, ANNUAL REPORT 2024 PG.12
FINANCIAL REVIEW EPORT OF THE TRUSTEES (CONTINUED Financial Review The years has been a f inacial success, as we managed to raise suff icient funds for the planned projects. Our expenditure however was somewhat restricted due to access problems in Gaza and the year ended with a healthy funds flow situation. unicorporated charity, a non government organisation, registered with the Charity Commission. Its work is governed by its constitution, rules and regulations of the Charity Commission as well as United Kingdom legislation. Recruitment and appointment of trustees Trustees are selected f rom the pool of volunteers for their hard work and skills. Policy on reserves We aim to spend the monies raised on the victims and do not like to hold on to funds or build reserves. We do not any signif icant f ixed Induction and training of trustees assets We therfore do not aim for large New trustees are provided a reserves. comprehensive induction and training in their obligations and legal requirements. Funds in def icit We should never have any funds in def icit as we raise the funds before committing expenditure. Arrangements for setting key management personnel remuneration Trustees give their time free of charge and are not remunerated. Theycan claim incidental expenses but choose not to do so. Going concern We operate very prudently and onlyspend funds after receiving the donations. we do not take any risks with our f inances and never require any borrowing. We have a strong Balalnce Sheet and healthy liquid funds. Organisational structure Board of Trustees manage all the charity affairs with the help of one employee who is responsible for f inance and administration function. In the Trustees opinion, our Going Concern is assured for the forseeable future. Financial instruments Objectives and policies The charity's activities expose it to a number of f inancial risks including credit risk, cash flow risk and liquidity risk. The Structure, governance and management Nature of governing document Faizan Global relief Foundation is a UK based ANNUAL REPORT 2024 PG.13
FINANCIAL REVIEW EPORT OF THE TRUSTEES (CONTINUED use of f inancial derivatives is governed by the credit-ratings assigned by international charity's policies approved bythe board of credit-rating agencies. The charity has no trustees, which provide written principles on signif icant concentration of credit risk, the use of f inancial derivatives to manage with exposure spread over a large number these risks. The charity does not use derivative of counterparties and customers. f inancial instruments for speculative purposes. Liquidity risk In order to maintain liquidity to ensure that suff icient funds are available for Cash flow risk The charity's activities expose it primarily to the f inancial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange fonNard contracts and interest rate swap contracts to hedge these exposures. ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt f inance. Further details regarding liquidity risk can be found in the Statement of accounting F)olicies in the f inancial statements. Interest bearing assets and liabilities are held at f ixed rate to ensure certainty of cash flows. Disclosure of information to auditor Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees conf irm that there is no relevant information that they know ofand ofwhich they know the auditor is unaware. Credit risk The charity's principal f inancial assets are bank balances and cash, trade and other receivables, and investments. The charity's credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an The annual report was approved by the identif led loss event which, based on previous trustees of the charity on 23 June 2025 and experience, is evidence of a reduction in the signed on its behalf by. recoverability of the cash flows. The credit risk on liquid funds and derivative f inancial instruments is limited because the counterparties are banks with high Mr Rezwan Ali Asghar Chairman and trustee ANNUAL REPORT2024 PG.14
STATEMENT OF TRU ILITIES The trustees are responsible for preparing the The trustees are responsible for keeping trustees, report and the f inancial statements proper accounting records that disclose in accordance with the United Kingdom with reasonable accuracy at any Accounting Standards (United Kingdom time the f inancial position of the charity GenerallyAccepted Accounting Practice) and and enable them to ensure that the applicable law and regulations. f inancial statements complywith the Charities Act 2011, the Charities (Accounts The law applicable to charities requires the and Reports) Regulations 2008, and the trustees to prepare f inancial statements for provisions of the constitution. each f inancial year which give a true and fair The trustees are also responsible for view of the state of affairs of the charity and of safeguarding the assets of the charity and the incoming resources and application of hence for taking reasonable steps for resources of the charity for that period. In the prevention and detection of f raud and preparing these f inancial statements, the other irregularities. trustees are required to: The trustees are responsible for the maintenance and integrityof the corporate and f inancial information included on the charitable company's website. Legislation governing the preparation and dissemination of f inancial statements may differ f rom legislation in otherjurisdictions. . select suitable accounting policies and then apply them consistently, . observe the methods and principles in the Charities SORP. . make judgements and estimates that are reasonable and prudent; Approved bythe trustees of the charity on 23 June 2025 and signed on its behalf by: . state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the f inancial statements; and . prepare the f inancial statements on the going concern basis unless it is inappropriate to presume that the charitywill continue in business. Mr Rezwan Ali Asghar Chairman and trustee ANNUAL REPORT2024 PG.15
INDEPENDENT AUDITOR'S REPORT TO Opinion We have audited the f inancial statements of FAIZAN GLOBAL RELIEF FOUNDATION UNITED KINGDOM (the'charity,) for the year ended 31 October2024,which comprise the Statement of Financial Activities, Balance Sheet, and Notes to the Financial Statements, including a summary of signif icant accounting policies. The f inancial reporting f ramework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP- FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law (United Kingdom Generally Accepted Accounting Practice). NIAC,,, E/C In our opinion the f inancial statements: 95. ' give a true and fair view of the state of the charity's affairs as at 31 October 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
olS iesl . have been prepared in accordance with the requirements of the Charities Act 2011. ANNUAL REPORT 2024 PG.16
INDEPENDEKf AUDrroR'S REPORTTO HE MEMBERS OF FGRF UK (CONTINUED Basis for opinion Other information We conducted our audit in accordance with The trustees are responsible for the other International Standards on Auditing (UK) information. The other information (ISAS (UK)) and applicable law. Our comprises the information included in responsibilities under those standards are the annual report, other than the f inancial further described in the auditor statements and our auditor's report responsibilities for the audit of the f inancial thereon. Our opinion on the f inancial statements section of our report. We are statements does not cover the other independent of the charity in accordance with the ethical requirements that are relevant to our audit of the f inancial information and, except to the extent othenNise explicitly stated in our report, we do not express anyform of assurance conclusion thereon. statements in the UK, including the FRC'S Ethical Standard, and we have fulf illed our other ethical responsibilities in accordance with these requirements. We believe that f inancial statements, our responsibility is the audit evidence we have obtained is to read the other information and, in doing suff icient and appropriate to provide a basis so, consider whether the other for our opinion. information is materially inconsistent with the f inancial statements or our knowledge Conclusions relating to going concern obtained in the audit or othenmise appears In auditing the f inancial statements, we to be materially misstated. If we identify have concluded that the trustees use of the such material inconsistencies or apparent going concern basis of accounting in the material misstatements, we are required preparation of the f inancial statements is to determine whether there is a material appropriate. Based on the workwe have performed, we have not identif led any material uncertainties relating to events or conditions that, individually or collectively, may cast signif icant doubt on the charity's abilityto continue as a going concern for a period of at least twelve months f rom when the original f inancial statements were authorised for issue. In connection with our audit of the misstatement in the f inancial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. ANNUAL REPORT 2024 PG.17
INDEPENDEKf AUDrroR'S REPORTTO HE MEMBERS OF FGRF UK (CONTINUED We have nothing to report in this regard. of Trustees, Responsibilities (set out on page 5), the trustees are responsible for Matters on which we are required to report the preparation of the f inancial by exception statements and for being satisf led that In the light of our knowledge and they give a true and fair view, and for such understanding of the charity and its internal control as the trustees determine environment obtained in the course of the is necessary to enable the preparation of f inancial statements that are free from audit, we have not identif led material misstatements in the Trustees, Report. material misstatement, whether due to f raud or error. We have nothing to report in respect of the following matters where the Charities (Accounts and Report) Regulations 2008 requires us to report to you if, in our opinion: In preparing the f inancial statements, the trustees are responsible for assessing the charity's abilityto continue as a going concern, disclosing, as applicable, matters related to going concern and using the . adequate accounting records have not going concern basis of accounting unless been kept, or returns adequate for our audit the trustees either intend to liquidate the have not been received f rom branches not charity or to cease operations, or have no visited by us; or realistic alternative but to do so. . the f inancial statements are not in agreement with the accounting records and returns; or Auditor Responsibilities for the audit of the f inancial statements Our objectives are to obtain reasonable assurance about whether the f inancial . certain disclosures of trustees remuneration specif led by law are not made; or statements as a whole are free from material misstatement, whether due to f raud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. . we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement ANNUAL REPORT 2024 PG.18
INDEPENDEKf AUDrroR'S REPORTTO HE MEMBERS OF FGRF UK (CONTINUED Misstatements can arise f rom fraud or error trustees those matters we are required to and are considered material if, individually state to trustees in an auditors, report and or in the aggregate, they could reasonably for no other purpose. To the fullest extent be expected to influence the economic permitted by law, we do not accept or decisions of users taken on the basis of assume resF)onsibilityto anyone other than the charity and its trustees as a body, for our auditwork, for this report, or for the opinions we have formed. these f inancial statements. The extent to which our procedures are capable of detecting irregularities, including f raud is detailed below: We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including f raud and non compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including f raud and non compliance set out below. Riaz Ahmad FCCA (Senior Statutory Auditor) For and on behalf of Riaz Ahmad & Co, Statutory Auditor Lord House 51 Lord Street Manchester M31HE A further description of our responsibilities is available on the Financial Reporting Council's website at: MNvw.f rc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. 23June2025 RiazAhmad & Co is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section1212 of the Companies Act 2006. Use of our report This report is made solely to the charity trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section154 of that Act. Our auditwork has been undertaken so that we might state to the ANNUAL REPORT 2024 PG.19
FINANCIAL STATEMENT Cob. 811 51110 195 63 118 10 93. 10 939 48 940 31995 42183 1110 Begiiining 111 Pliis goods piircl?c)& Total goods available ,' Less end/f?g Invei?tory Total cost of goods sold Gross profit (loss) Operatlng Expenses Selling , Salaries and wages Icominissions 'Advertising Depreciation Total selling expenses GeneraVAdministrative Salaries and wages ' Employee benefits Payroll taxes Insurance IRent | Utilities Depreciation - ffin- 5403 16131 •>a A66 CE el) 01 P%rf)' ANNUAL REPORT 2024 PG.20
STATEMENT OF FINANCIAL ACTIVITIES OR THE YEAR ENDED 31 ocfoBER 20 NOTE UNRESTRICTED RESTRICTED TOTAL FUNDS £ FUNDS £ 2024 £ Income and Endowments from: Donations and legacies 724,460 956,667 1,681,127 Total Income 724,460 956,667 1,681,127 Expenditure on: Raising funds Charitable activities (1,691) (72,065) (1,691) (797,421) (869,486) Total Expenditure (73,756) (797,421) (871,177) Net Income 650,704 650,704 159,246 809,950 809,950 Net movement in funds 159,246 Reconciliation of funds Total funds brought forward 4,517 324,755 329,272 Total funds carried forward 15 655,221 484,001 1,139,222 NOTE UNRESTRICTED RESTRICTED TOTAL FUNDS £ FUNDS £ 2023 £ Income and Endowments from: Donations and legacies 14,660 396,995 411,655 Total Income 14,660 396,995 411,655 Expenditure on: Charitable activities (10,143) (72,240) (82,383) Total Expenditure (10,143) (72,240) (82,383) Net Income 4,517 4,517 324,755 329,272 329,272 Net movement in funds 324,755 Reconciliation of funds Total funds carried forward 15 4,517 324,755 329,272 All of the charity's activities derive f rom continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 15. ANNUAL REPORT 2024 PG.21
(REGisfRATION NUMBER: 1200869) BALANCE SHEEf31 ocfoBER 20 NOTE 2024 £ 2023 £ Fixed Assets: Tangible Assets 11 14,371 Current Assets: Cash at bank and in hand 12 1,133,154 364,656 Creditors: Amounts falling due within one year Net Current Assets 13 (8,303) (35,384) 1,124,851 1,139,222 329,272 Net Assets 329,272 Funds of the Charity: Restricted income funds Restricted funds 484,001 324,755 Unrestricted income funds Unrestricted funds 655,221 4,517 Total Funds 15 1,139,222 329,272 The f inancial statements on pages 10 to 21 were approved by the trustees, and authorised for issue on23 June 2025 and signed on their behalf by: CHAIRMAN OF TRUSTEES, (REZWAN ALI ASGHAR) ANNUAL REPORT 2024 PG.22
NOTES TO THE FINANCIAL sfATEMEKrs FOR THE YEAR ENDED 31 ocfoBER 2024 I)ACCOUNTING POLICIES that the income will be received and the amount can be measured with suff icient Statements of compliance The f inancial statements have been reliability. prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011. Donation and legacies Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amountcan be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Basis of preparation FAIZAN GLOBAL RELIEF FOUNDATION UNITED KINGDOM meetsthe definition ofa public benef it entity under FRS 102. The accounts (f inancial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless othenNise stated in the relevant note(s) to these accounts. Going concern The trustees consider that there are no material uncertainties about the charity's abilityto continue as a going concern. Raising funds These are costs incurred in attracting voluntary income, the management of investments and those incurred in Income and endowments Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable trading activities that raise funds. ANNUAL REPORT 2024 PG.23
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ocfoBER 2024 (CONTINUED) Charitable activities Charitable expenditure comprises those costs incurred bythe charity in the delivery of its activities and services for its subsequent accumulated depreciation and subsequent accumulated impairment losses. benef iciaries. It includes both costs that can Depreciation and amortisation Depreciation is provided on tangible f ixed assets so as to write off the cost or be allocated directly to such activities and those costs of an indirect nature necessary to support them. valuation, less any estimated residual value, over their expected useful economic life as follows: Governance costs These include the costs attributable to the charity's compliance with constitutional and Cash and cash equivalents statutory requirements, Cash and cash equivalents comprise cash including audit, strategic management and on hand and call deposits, and other trustees meetings and reimbursed short-term highly liquid investments expenses. that are readily convertible to a known amount ofcash and are subject to an insignif icant risk of change in value. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the def inition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt f rom taxation in respect of income or capital gains received within categories covered by Chapter 3 Part11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act1992, to the extent that such income or gains are applied exclusively to charitable purposes. Borrowings Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis Tangible f ixed assets of the effective interest method and is Individual f ixed assets costing £0.00 or more included in interest payable and are initially recorded at cost, less any similar charges. ANNUAL REPORT2024 PG.24
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ocfoBER 2024 (CONTINUED) Borrowings are classif led as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Financial instruments Classif ication Financial assets and f inancial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the Financial liabilities and equity instruments are classif led according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. objectives of the charity. Restricted income funds are those donated for use in a particular area or for specif ic purposes, the use of which is restricted to that area or purpose. Recognition and measurement All f inancial assets and liabilities are Pensions and other post retirement obligations The charity operates a def ined contribution pension scheme which is a pension plan under which f ixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold suff icient assets to pay all employees the benef its relating to employee service in the current and prior periods. initially measured at transaction price (including transaction costs), except for those f inancial assets classif led as at fair value through prof it or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a f inancing transaction. If an arrangement constitutes a f inancing transaction, the f inancial asset or f inancial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt Contributions to def ined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment. instrument. Financial assets and liabilities are only offset in the statement of f inancial position when, and onlywhen there exists ANNUAL REPORT 2024 PG.25
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ocfoBER 2024 (CONTINUED) a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. (b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is Financial assets are derecognised when and denominated, provided such links are not onlywhen a) the contractual rights to the leveraged. cash flows from the f inancial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the f inancial asset, or c) the charity, despite having retained some, but not all, signif icant risks and rewards of ownership, has transferred control of the asset to another party. (c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisf ies condition (a) and the variation is not contingent on future events other than (l) a change of a contractual variable rate. (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (li) the new rate is a market rate of interest and satisf ies condition (a). Financial liabilities are derecognised only when the obligation specif led in the contract is discharged, cancelled or expires. Debt instruments Debt instruments which meet the following (d) There is no contractual provision that conditions are subsequently measured at could, by its terms, result in the holder amortised cost using the losing the principal amount or any effective interest method interest attributable to the current period or prior periods. a) The contractual return to the holder is (i) a f ixed amount; (li) a positive f ixed rate or a positive variable rate. or (iii) a combination of a positive or a negative f ixed rate and a positive variable rate. (e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it backto the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of ANNUAL REPORT2024 PG.26
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ocfoBER 2024 (CONTINUED) the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law. publicly traded or their fair value is reliably measurable) are measured at fair value through prof it or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment. fj Contractual provisions may permit the extension of the term of the debt Investments in subsidiaries and associates instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c). are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored. Debt instruments that are classif led as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment. Derivative f inancial instruments The charityuses derivative f inancial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative f inancial instruments for speculative purposes. With the exception ofsome hedging instruments, other debt instruments not meeting these conditions are measured at fair value through prof it or loss. Derivatives are initially recognised at fair value at the date a derivative contract is Commitments to make and receive loans which meet the conditions mentioned entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised instatement of f inancial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of ANNUAL REPORT 2024 PG.27 above are measured at cost (which may be nil) less impairment Investments Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ocfoBER 2024 (CONTINUED) f inancial activities depends on the nature of the hedge relationship. Fair value measurement The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a signif icant change in economic circumstances or a signif icant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fairvalue, the fair value is estimated by using avaluation technique. 2. Income f rom donations and legacies UNRESTRICTED FUNDS GENERAL £ RESTRICTED FUNDS £ TOTAL FUNDS £ Donations and legacies; Donations f rom individuals 724,460 956,667 1,681,127 Total for 2024 724,460 956,667 1,681,127 Total for 2023 14,660 396,995 411,655 3. Expenditure on raising funds a. Cost of trading activities NOTE UNRESTRICTED FUNDS GENERAL £ TOTAL FUNDS Other direct costs of activities for generating funds 1,691 1,691 Total for 2024 1,691 1,691 ANNUAL REPORT2024 PG.28
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ocfoBER 2024 (CONTINUED) 4. Expenditure on the charitable activities NOTE UNRESTRICTED FUNDS GENERAL RESTRICTED FUNDS£ TOTAL FUNDS£ 797,421 797,421 Governance costs 72,065 72,065 Total for 2024 72,065 797,421 869,486 Total for 2023 10,143 72,240 82,383 5. Analysis of governanace and support costs Governance costs UNRESTRICTED FUNDS GENERAL£ TOTAL FUNDS£ Staff Costs; Wages and Salaries Other staff costs 26,731 435 26,731 435 Audit fees, Other fees paid to auditors Marketing and publicity Depreciation, amortisation and other similar costs Other governance costs 6,000 6,,805 6,000 6,805 4,597 27,497 4,597 27,497 Total for 2024 72, 065 72,065 Total for 2023 10,143 10,143 ANNUAL REPORT2024 PG.29
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ocfoBER 2024 (CONTINUED) 6. Net incoming/outgoing resources Net incoming resources for the year include: 2024 Depreciation of f ixed assets 4,597 7. Trustees remuneration and expenses 8. Staff costs The aggregate payroll costs were as follows: 2024 2023 Staff Costs during the year were: Wages and Salaries 26,731 2,640 Pension costs 79 Other staff costs 435 27,166 2,719 No employee received emoulments of more than £60,000 during the year ANNUAL REPORT 2024 PG.30
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ocfoBER 2024 (CONTINUED) 9. Auditor's remuneration 10. Taxation The charity is a registered charity and is therefore exempt f rom taxation. 11. Tangible f ixed assets FURNITURE AND EQUIPMENT £ MOTOR VEHICLES TOTAL Cost Additions At 31 October 2024 968 968 18,000 18,000 18,968 18,968 Depreciation Charge for the year At 31 May 2023 97 4,500 4,500 4,597 4,597 97 Net book value At 31 October 2024 871 13,500 14,371 12. Cash and cash equivalents 2024 2023 Cash at Bank 1,133,154 364,656 13. Creditors: amount falling due within one year 2024 2023 Other taxation and social security Other creditors Accruals 352 1,951 6,000 8,303 184 35,200 35,384 ANNUAL REPORT 2024 PG.31
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ocfoBER 2024 (CONTINUED) 14. Pension and other schemes Def ined contribution pension scheme The charity operates a def ined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £Nil (2023-£79). 15. Funds BALANCE AT IST NOV 2023 INCOMING RESOURCES RESOURCES EXPENDED BALANCE AT 31 OCT 2024 Unrestricted funds General 4,517 724,460 (73,756) 655,221 Restricted funds 324,755 329,272 159,246 883,706 484,001 1,139,222 Total funds (73,756) INCOMING RESOURCES RESOURCES EXPENDED BALANCE AT 31 OCT 2023 Unrestricted funds General 14,660 (10,143) 4,517 Restricted funds 324,755 339,415 324,755 329,272 Total funds (10,143) 16. Analysis of net assets between funds UNRESTRICTED FUNDS GENERAL TOTL FUNDS AT 31 OCT 2024 Tangible f ixed assets Current assets Current liabilities 14,371 1,133,154 (8,303) 14,371 1,133,154 (8,303) Total net assests 1,139,222 1,139,222 ANNUAL REPORT 2024 PG.32
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ocfoBER 2024 (CONTINUED) UNRESTRICTED FUNDS GENERAL TOTL FUNDS AT 31 OCT 2023 Current assets Current liabilities 364,656 (35,384) 364,656 (35,384) Total net assests 329,272 329,272 17. Analysis of net funds AT IST NOV 2023 AT 31ST OCT 2024 Cash at bank and in hand 364,656 364,656 364,656 Net debt 364 656 AT IST NOV2022 AT 31ST OCT 2023 Net debt 18. Related party transactions There were no related party transactions in the year ANNUAL REPORT 2024 PG.33
STATEMENTS OF FINANCIAL AcfiviTIES BY FUND FOR THE YEAR ENDED 31 ocfoBER 2024 TOTAL UNRESTRICTED FUNDS 2024 TOTAL UNRESTRICTED FUNDS 2023 Income and Endowments from: Donations and legacies Total income Expenditure on: Rasing funds Charitable activities 724,460 724,460 14,660 14,660 (1,691) (72,065) (73,756) 650,704 650,704 (10,143) (10,143) 4,517 4,517 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds brought forward 4.517 655,221 4,517 TOTAL RESTRICTED FUNDS 2024 TOTAL RESTRICTED FUNDS 2023 Income and Endowments from: Donations and legacies Total income Expenditure on: 956,667 956,667 396,995 396,995 Charitable activities (797,421) (797,421) 159,246 159,246 (72,240) (72,240) 324,755 324,755 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds brought forward 324,755 484,001 324,755 ANNUAL REPORT 2024 PG.34
, ETAILED STATEMENT OF FINANCIAL AcfiviTIE FOR THE YEAR ENDED 31 ocfoBER 2024 TOTAL 2024 TOTAL 2023 Income and Endowments from: Donations and legacies (analysed below) Total income Expenditure on: Rasing funds (analysed below) Charitable activities (analysed below) Total expenditure Net income Net movement in funds 1,681,127 1,681,127 411,655 411,655 (1,691) (869,486) (871,177) 809,950 809,950 (82,383) (82,383) 329,272 329,272 Reconciliation of funds Total funds brought forward Total funds brought forward 329,272 1,139,222 329,272 ANNUAL REPORT2024 PG.35
EfAILED STATEMENT OF FINANCIAL AcfMTIES FO THE YEAR ENDED 51 ocfoBER 2024 (CONTINUED) TOTAL 2024 TOTAL 2023 Donations and legacies Appeals and donations Appeals and donations 724,460 956,667 14,660 396,995 1,681,127 411,655 Raising funds Consumable tools (1,691) (1,691) Charitable activities Charitable donations Wages and salaries Staff pensions (Def ined contribution) pension scheme I Human Resources Costs (797,421) (26,731) (72,240) (2,640) (79) (435) (300) (164) (32) (7,759) (29) (400) (6,805) (12,304) (6,000) (6,509) (4,500) (97) Insurance (463) (12) Telephone and fax Computer software and maintenance costs Printing, postage and stationery Sundry expenses Travel and subsistence Public awareness campaign Marketing expenses Accountancy fees Bank charges Depreciation of motor vehicles Depreciation of off ice equipment (2,530) (3,960) (459) (869,486) (82,383) END OF ANNUAL REPORT ANNUAL REPORT2024 PG.36
MOIQCCO 2024 CHARITY DETAILS: CHARITY NUMBER: 1200869 www.fgrf.uk