Docusign EnvelopÈ ID". 5823245A-49D5-8EFD-8386-CDD0540E818F The Bestway Foundation ANNUAL REPORT AND FINANCIAL STATEMENTS For the ear eHded 30 June 2025 Charity No. 297178
Docusign EnvelopÈ ID". 5823245A-49D5-8EFD-8386-CDD0540E818F The Bestway Foundation CONTEKrs Page Legal and admimithative infom]ation Ttee8, Repoil 24 Independent Auditor's Report Stateinent of FinarEcial Activities Balance Sheet Statement of Cpsh Flows 10 Notes to the Financial Statements
Docusign EnvelopÈ ID". 5823245A-49D5-8EFD-8386-CDD0540E818F The Bestway Foundation LEGAL AND ADMtNtSTRATIVE INFORMATION TRUSTEES Sir MohaTnmed Anwar Peivez, OBE H Pk (Chairman) Lord Zameer Mohamined Clioudrey. CBE, Sl Pk Mohaintned Youllus Sheikh (Deceased 26 January 2026) Dawood Pervez, BA (HoThs}, FRSA, MA OXON, Soli¢itoi' RizwaTr Pervez, ACA The Honourable Haider Zameer ChoudiEy, MAIHons) Cantsb, ACA SECRETARY Moliammed Younus Sheikh (Deceased 26 January 2Q26) PRINCIPAL OFFICE Bestway Fouttdation Abbey Road Park Royal Londoii NWIO 7BW ll¥DXPENDENT AUDITOR Cooper Pttiyy Group Limited Cubo Btrminghan) 4th Floor Two Chamberlain Squair Birniingham B3 3AX BANI(ERS HSBC Bank plc Apex House Reading RGI IAX Habib Bank Zurich Habib House 42 Mooi'gate London EC2R 6JJ Page I
Docusign EnvelopÈ ID". 5823245A-49D5-8EFD-8386-CDD0540E818F The Bestway Foundation TRUSTEES, REPORT foi. the yeai. ended 30 June 2025 The tt'ustees of The Bestway Foundation present their annual report and fanCIal $18t¢ments for the yeai. ended 30 June 2025 and confmn that they ¢omply with the i'equirements of the Chai'ities Ael 2011, the chai'itable decd of rovenant atEd the Charities Statement of Recoi)llllended Practice applicable to ¢h•iities prepaYig their accounts iu accordance with the Financial Reporting Standard applicable in the UK 8nd Republic of Ireland IFRS 102) (issued October 2019). ORGANISATION The Charity ss govemed by the charitable deed of covenant dated 20 July 1987 aRd a supplemental deed atid deed of variation dated 30 Juthe 1992. The charity is registered in the UK and its registraiion No. is 297178. The trustees of Bestway Found8tion al'e listed on Page l. The trustees have overall I"esponsibility for the day-to-day Inanagemeut and control of the charity. All the trustees are directois and shttitholders of Bestway Group Limited. The power of appoiiitiiig new and additional twstees and reappointmcnt ofremaining tt'ustees ts vested in Bestway GIDup Limited. Th¢ h'ustees meet once evely month to i'eview thc abjcctives and tlie activities of the charity. RECRUITMENT AND INDUCTION OF TRUSTEES The Ti'ust Dccd pi'ovides for a minimum of 3 trustees, to a maximutn of 9 trustees. There were no changes in trustees during th¢ yeai. ended 30 June 2025. TRUSTBES, RESPONSIBILITIES IN RELATION TO THE FTrJANCIAL STATEMENTS The chai'ity trustees air respoiisible for prepai'ing A trustees, annual IEpoit aRd runlial stateinents in accoi.dance with applicablc law and United Kingdoin Accounting Standai'ds (United Kildon1 GeJi¢i'ally Accepted AccountÈng Practice). Law applicable to chai'ities in Engl8nd & Wales requuES th¢ ¢h8]'ity trustees to prepoir financial statements for eacli yCaT whith give a tt'ue and fair view of the state of affaii's of the Lhdrity <ind or Éhe incoming i'esources and api)lication of resources. including the income and ¢xpenditui'e. In preparing the fancial stateinents, the trustees al'e requiitd to.. sel¢¢l 5Uitable acei)unting policies and then apply thein consistently. obserY£ the meth(xls and pi'inciple5 ill the Charities SORP 2019 (FRS102). make judgeincnls and estiii)at¢s that are reasonable and prudenL state whetlier applicable UK accounting stamdards have been followed, subject to aijy Inaterial departures di8clo8cd and explained the financial stateinents. piepare the fjnancial statcment$ on the going conceill basis unless it is inappropriate to presume that the charity will Continue iii business. The ttustees are responsible for keeping proper accountillg records that disclose with I'easonable aTacY at aiiy time tlie fancial PDSltion of the ¢harity and to enable tliein to eiiswr that the fmancial statements comply with the Charities Act 2011, the Charities {Accounis and Reports) Regulation 2008 and the provisions of lh¢ d¢ed of covenanL They are also i'esponsible for safeguarding the assets of the charity and hence taking ira50nable steps for the preveution aiid detection of fraud and othei. ilTegularitses. The trustees are responsible for the maintenance and integrity of the corpordte and fancIal infortnation included on the cl)ai'Éty's website. Legislation in the United Kingdoin governing the pieparatioll and dIsse[natIon of fll)an¢ial statements may diffei. from legislation in ollieA' jurisdictions. Page 2
Docusign EnvelopÈ ID". 5823245A-49D5-8EFD-8386-CDD0540E818F The Bestway Foundation TRUSTEES, REPORT for the year ¢nd¢d 30 June 2025 OPERATING PRtNCIPLES AND OBJEcfivES The chai'ity operates for the public benefit through the aohievemellt of its objectives, beillg,. l. The advancement of education foi. Ibe public beDefit in both the United Ktngdom and ov5¢aS by providing asslstance by way ofgr&nts, endowma)Is, scholai'ships, loans oi. otherwise as theTrustees shall in their &bsolute disoirtion decide, to school¢hildren and students, who ait of Indian, PakEstaJii, Baiigladeshi, oi. Sii Lankan origin. The relief of sicknes5 and the pitseivation and pi'otection of health for the benefit of the public in both the United Kingd(Trm and overseas witli partieulai. refei'ence lo ld14 Pakistan, Bangladesli aiid Syi Lanka by way of g¥ants or endowments to existing hospita15, clinics oi. medical e3]th establishmejits, by buildii)g or endowing iiew hospitals or clinics or ITI such other mallnei. as the trust¢¢s shall in their discretion dectde. The Tiwstees have taken aeeount of the infomation contained in the Charity Commi&sion's general guidance on public benefit wheii reviewing the objectives aThd in planning the future activities of the charity. GRANTS POLICY The two majL)r recipients of the grants are UK and For¢ign Charities, both irgistered and noE]-registei'ed, and acadeinic institutions. Bestway Foundation awards gi.atS to those c.1ties, which are Cllgagcd in activitÈes that endorse the Foundation's objectives. The majoiity of the grdnts ar¢ iade on an annual basis. Donations on behalf of students are iisually made direct to academÉ¢ Institutions. The payments inade to students air n)ad¢ keeping in mind the individual's fainily cii'cllinstances and are in line witli the objectives of th¢ cliai'ity. In the year ended 30 June 2025, Bestway Foundation award¢d grants to a total value of £471,709 (2024.. £1,101,580). Details of giants awarded duiing the year are given in Note 5 to the fancial statetnenls. FINANCIAL REVIBW AND INVESTMENF POLICY The in¢omÈng resources comprises of income from various investtllents and other donations. Dui'ing the y¢ar, Be8tway Foundation awarded 5 grants to institutions and 20 grants donations to individuals. Fui)ds forthe charity are held Tn a variety of llivestment instrttitieiits, comprising of UK equities and fuced income $¢CUTItE¢s. Th¢ ts'ust¢e5 consider the income IEquirements, tlie risk pi'ofile and the investtllent managei"'s view of th¢ illark¢t prospects in the medium tei'm. Tlie sti'ategy is reviewed by the Trustees with the investment manag•E annually, RESERVES POLICY B¢stway Found&tioi]'s funds of £3,740,579 are uni'estricted tsnd represenl the cliai'ity's free irserves, 11 is envisagd by th¢ tt'ustees to build up sufficient reseyyes by investing 501d shal'es in fixed deposit account, so that donations ai'B inade of the allnuElies i'eceived from the investment of the said resVe5. The twstees regularly review the level of the reserv¢s. Page 3
Docusign EnvelopÈ ID". 5823245A-49D5-8EFD-8386-CDD0540E818F The Bestway Foundation TRUSTEES, REPORT for the year ended 30 June 2025 RISK MANAGEMENT The ¢rustees of Bestway Foundation have considered the majoi. risks faced by th¢ ¢harity. Appi'opriate proceduirs are established in ordei. to manage and mitigate those risks. The Inajorrisks to th¢ ehai'ity, including Iiow they are mitigated, air- Misinanaged finat)ces- ManageTnenl creates and simplifies policy instt'u¢tions, stating to whoEii the charity has paid out to during the year. Reseives Policy - Ti'ustees ensur¢ Iliat enough reserves are available to the charity for use in unforeseen cuKuinstances. Flucluations in Investments- Truslees ensure an appvopi'iate investment policy is adopted to get a good i'elum froni the investments held. PERFORMANCE REVIEW AND oifFLOOK DuTing the period under review the Bestway Foundation continued to pi'owide assistance to local aiid international charities. V8J'lOIES Students both from the UK aiid abi'oad weir provid¢d grants / scholarships I burIeS to assist thein with theii. eduealioLI. The Bestway Foundation in the futui'e seeks to deepen its relatioiiships with varEou& UIC based ch&rities such as British Asian Trnst, Criinestoppers. Duke of Edtnbui'gh's Awards etc. and British Univrrsilies such as Univti'sities of Bradford, Oxford, Kent atjd Cambridge. FUNDIIAIStNfj Bestway Follndation does not undeilake any fundraising activities dir¢ctly. The ndS raised in the yeai. g*re from a fiindraising cvent I'un by Bestway Wholesale Ltd. The funds froin this evenl were pi'incipally I'eceived from rant fi]ndci's, COOrate partnei'ships, and supplieiB and throubih soine individual donoi's. No professional fundrai8crs oi. fundraising ageJ]cies weir used in relation to this evenl no ¢oinplaints hav6 beet) ieceived by t]ie chai'ity ill relation to this fundraising event. GOtNG CONCERN Tlic Trustees have Considered the impact of slow e¢oiiomic growth and considpJ' that it does not have a material iinpact 01) the Foundation due to level of cash reserves and TnsDimdl (Innual fixed Cost base. PUBLIC BENEFIT The TNst¢es contillue to keep the Chai'ity Coinn)i58ion's guidance on publEc benefit undei. review when coiisidei'ing its futuir actÉvitie5. BY ORDER OF THE TRUSTEES Dawood Pervez Trustee D&t¢'. 20 April 2026 Pctge 4
Docusign EnvelopÈ ID". 5823245A-49D5-8EFD-8386-CDD0540E818F AUDIT REPORT FOR THE TRUSTEES OF THE BESTW AY FOUNDATION Oplnloii We have audited the financial statements of The Be5tway Foundation {"the charity") foi. the year ended 30 June 2025 which comprise the stateinent of financial aetivilies, the bzlallce sheet and notes to the financial statements, including summaiy of sigttifi¢#nt accounting poli¢ie5. The fanGla1 I'¢porting fi'ainewot* that has been applied in their preparation is applicable law and United Kingdom AccountRng Standai'ds, including Fillaneial Reporting Standard 102 'The Financial Reporting Staiidard applicable in the UK and Republic of ljrland, (United Kingdom GenallY Accepted Ac¢ouTrting Pixttice). In our opinion, the fmaneial staternents.. give a true and fair wiew of the state of tl)e eharity's affall's as at 30 June 2025 and of the charity's incoming resou¢5. incIa]ng its in¢ome aiid eXpendIVe for the year ended. have beell pi'opevly prepared ill a¢cordance with United Kingdom Get)erally Accepted Aecounting Practice. and have be prepared in accordance witb the requirements of the CharÉties Act 2011. Basts for opinion We conducted our audit in accoi'dallce with International Standai'ds on Auditing (IJK) {ISAs (UIC}l and applicable law. Oui. responsibilities under those standards are further described in the Auditoi s rcsptsnsibilities for the audit of the finai)cial statetnents section of oui. report. We are independent of th¢ charity in accordance witii the ethical i'equirements irlcvant to our audit of the fjnancial stateinents in the UK, includirkg the FRC'S Ethical Standard, and we have fulfjlled our otha. ethieal respon5ibili(ies accoi'dance with th¢se requircmciits. Wc believe that the audit evidence w¢ have obtained is sufficient and appropriate to provide a basis foi. our opinion. Conclusions related to going conc¢rn tn auditii?g the financial statements, we l)avE con¢ludd thatthe trustee5' use of the going concern basis of accounting in the prepaiation of the fjnancial stat¢Enrnls is appropriate. Bas¢d on the woyk we have perfornied, we h&ve not identified any n]aterial uncertainties relating lo eyents or conditions that, individually or coll¢clively, may cast significant doubt on the eliaiity's ability to continue as a going concei'n for a peri(xl of at least 12 months fiY)m when the financial statements are allihoyised for issue. Oui. responsibilities and tlie responsibilÉties of the truste¢s with iespect to going ¢oi)cern aiE described in the relevant sections of this i'eport. Other infoi'mation The otiiei. infoiwation comprises the inforniation iiicluded in the ti'ustg¢s' repoi"t, other than the fiiian¢ial statements and our auditoi s I'eport thereon. The trustees aiE respan8ible for thc othei. infomation contained withiii th¢ b'ustees, poit. Our opinion on the financial statemeiJts does Dot coverthe other ittfonnation anl except to tlie extent otlierwise expliGitly stated tn our report, we do not expi'es5 any forin of assuran¢e ¢ot)cluston thei'eoTh. OLir responsibility is to read the other infoiTration and, ui doing so, Consider whether the other infoi'mation is Inatei'ially in¢onsRstent with the financial statements or oui. knowledge obtaiiied in the course of the audit OJ. otheivise appears to be materially misstated. If we i<lentify such material inconsistencies or apparent inaterial n)ssstatemeiits, we are i'equwed to deten1)e whethei. tliis gives rise to p mateiial misstateinent in the finaiicial statements themselves. If, b£tsed on the work we have pcrfomjed, we ¢on¢lud¢ that Ihei'e is a inaterial misstatement of this other infomiation, we ttre required to report that fact. We have nothing to Teport in this i'egard. Pagg 5
Docusign EnvelopÈ ID". 5823245A-49D5-8EFD-8386-CDD0540E818F AUDIT REPORT FOR THE TRUSTEES OF THE BESTWAY FOUNDATION Matter5 OA ivhleh w¢ ar¢ r¢qulred to repoi't by exceptlOD We have nothii)g to r¢poi1 in respect ofthe following matters in trlation to whi¢h the Charities (Accounts and Reports) Kegulations 2008 qll1r¢ us lo report to you if, in our opinion: the lfOrMatIon given in the trustee5' report 1$ inconsistent in any inaterial I'espect with the finaDcial statements; or sufficsent accountii)g records have not been kept. or the fsnancial statements air not agreement with the accountti)g records. or we have not re¢¢ived all the infoi'jnation and explanaÉions we requii'e for our audit. Re5ponsablllties of tru$lee$ As explained more fully itt the Statement of Trustees, responstbilitie5, the trustees al'e responsible for the pi'eparation of the fsnancial statemeiils and for beuig satisfied that they give a true and fair view, and for such intenial conts'ol as the Illlstees determuie Rs necessary lo enab16 the pieparation of f(la1 statements that aiE free fi'om material misstateinent, whethei. du¢ lo fraud oi. en'or. ID preparing tl)e financial statements. the trustets air responsible for a8sesSiTI8 the charity's ability to continue as a going concern, disclosing, as <ippl&cable, Inattei% I.eated to going conc¢n] and usinE the going conceim basis of accounting unless th¢ twste¢5 eithei. intld to liquidate the chai'ity oi. to cease opei'ations, or hav¢ no realistic altenjative but to do so. Auditor's responsibAlitlt$ foi. the audit of tlie finanelAI stRtemeiits We have been appointed as auditor under Section 144 of the Charities A¢1 2011 and report in ac¢oiYlane¢ with the Act and relevant regulatiorib Illdd¥ oi. havit)g effect Iheyeunder. Our objectives ait to obtain reasonable as5uYance about whether the financial statements a whole al'e fi'ee fi'on) matth'ial inisstat¢m¢nl, wheiher due to fi2ud oi errol., aiid to issue an auditoi s i'eport that incldes our opiAioii. Reasonable assuran¢e 15 a higli level of a5suixnce but is not a guaraiitee that an audit ¢(mductcd in accordance with ISAS (UK) will 81ways detect a Inaterial misstatement when it exists. M55Stat¢ments cali arisc from fixud or eri'or and are considered material if. individually or in the aggregate. Ihey could reasonably be expe¢ted to iiifluence the economic decisions of users taken the basis ot Ibese f]nan¢ial slatements. trregulai'ities, in¢ludin¥ fi'aud. are instaiices of non-compl1ace with laws and regulati(Jns. Wc design procedures in line with oui. responsibilities, outlined above, to detect material nii55tatements in 1¢8ped of Èntgulai'ities. including fraud. The 8pe¢ifEc priJLeduiEs for this engageinent and the extentto whiGhthese are capable of detecting ijyegularities, including fraud are detailed below.. Oui. assessin¢nt focussed on key laws and regulations the chai'ity has to comply with and aiwgs of the financial stalen)ents w¢ asses&¢d as beiiig more susceptible to Inisstat¢mei)l. These key laws and regulatiotts ii)cluded but wei'e not lin)it¢d lo coiiiplian¢¢ with the Charities Act 2011, taxation legislatiL)n, dota pi'otection, anti-bribery aTrd einploymenl legsslation. We are not Ye5P0115ibl¢ for pi'eventing irregularities, including fraud. Oui. appi'oach to detecting irregularities, including fraud, included, but was not Itmited to, the following.. obtainsng an undei'standiE]g of the legal and IEgulatoiy fi'amework applicable to the charily and how the cliarity air Complying with tltsi fi'amework, including agreement of fJiiatLcial stateinent disclosui'es to uiid¢i'lying documentation aRd othei. evidence. obtaining an undei'standing of the charity's control enYiroi]ment And how the charity liave applied relevant ¢ontt'ol pro¢eduYes, thiDugh dis¢ussions with managejnent and by performing walkllirouglk testing ovei. key obtaining att uE)derstanding of the charity's risk assessment process, includiJTrg the i'ssk of fraud. reviewing Ineeting Iniiiut¢s of those charged with govei'nance thiDughout the year,. and pei'fonnitig audit testing to addi'ess the I'isk of Tnanagement oven'ide of controls, including testllig jouma entt'ies and othei. adjysttnents ftsrappix)priat¢ne5s, evaluating the business rationale of sigoificanttransacfions outside tlie noiiiial course of business and IEviewing accounting estimates foi. bias. Page 6
Docusign EnvelopÈ ID". 5823245A-49D5-8EFD-8386-CDD0540E818F AUDIT REPORT FOR TTrIE TRUSTEES OF THE BESTWAY FOUNDATION Whilst considering how our audit work addi'essed the detection of ii'regularities, we also considei'¢d the likelihood of detection of fraud based on our appiDach. Intgulai'ities arisiE)g from fraud are inherently Inoi'e difficult to detect thall those arising froin ermr. Because of the illhercnt limitations of an audit, tliere is a risk that we will not detect all iryegulai'iÉi¢s. including those leading to a matei'ial misstatei1)ent in the fmancial stat¢mellts or non-compliance with iegulation. This risk c1'CaSeS the more that¢ompliallce with a law oi'regulation is remov¢d from the events and tt'ans&¢li0115 Irflected in the fanCial statemeiits, aswe will be less likely to become aware of instaAces of non-complianc¢. The risk is also gKeatei' i'ega]'ding irvegularities orKuttti)g due to fraud l'ather tban error, as fi'aud involves intentional concealment, forg¢iy, collusion, omission oi. IE]isrepre5¢ntatioii. A further description of ouy responsibilities foi. the audit of the financial state1¢tS is located at tlie Finat)cial Reporting CouDciI's I'FRC'S") website at.. https'.Ilwww.frc.oi'g.uklauditorsresponsibililies. Thi5 d¢s¢riptioii foi'ms part ofoui. auditoi s repoit. Use of our report This irport is made solely to the charity's trustees, as a body, in accolanCe with Pprl 4 of the Charities (Accounts and Repoi1s) Regulations 2008. Our ttudit work has been undertaken SLI that we might state to the charity's trusttts those Inatters we are required tl) State to them in an auditor's report and for no other puipose. To the lIeSt cxtent peyniitted by law, we do not accept or assunie iEsponsibility to anyone othei. Ihan th¢ chai'ity and the cl)ai'ity's tnistees, for our audit work, for this Irport, oi. foy the opinions w6 have fonned. 81gnDd by.. E8B150CA03AQ41 COOPER PARRY GROUP LIMITED Statutory Auditor Cubo BimiÉnghain 4 Flooi. Two ChamberlRin Square Binniugham B3 3AX Date.. 24 April 2026 Cooper Parry Group Limited is eligible for appointsnent as audiloi. of the ch¢11'1ty by viitu¢ of its eligibility for appOinEnt as auditoi. of a coinpally uiidey ssction 1212 of the CompanEes Act 2006. Page 7
Docusign EnvelopÈ ID". 5823245A-49D5-8EFD-8386-CDD0540E818F The Bestway Foundation STATEMENT OF FINANCIAL ACTIVITIES for the ear ended 30 June 2025 2025 Unrestrleted Restrieted Funds Funds 2024 Nolg Total Total InC0e and endoivmeiits from: Donations and legacies Investments 187,441 170,726 187,441 170,726 366,191 159,222 Total incorne 358,167 358,167 525,414 Exp¢ndÈture oil: Charitable activities 480,409 480,409 1,109,961 Total expenditure 48Q,409 480 409 1 109961 Net (expenditure)lincome before net gainsl(losses) on investments (122,242) (122,242) (584.547) Trdnsfers betw¢en funds Net expeiidlture And net movement i fvDd5 (122,242) (122342) (584,547) Reconeiliation of fiinds Total brought foiivard 10 3,862,821 3,862,821 4,447,368 Total funds ca]ried fovward 10 3,740,579 3,740,579 3,862,821 The statement of financial hctivities includes all gains and losses recognised in the yeai.. All income and expenditsr¢ del'ive from coiilinuÉng activÉtses. The notes oil pages I I to 15 foi'm part of ¢hes¢ fancial stateinents. Page 8
Docusign EnvelopÈ ID". 5823245A-49D5-8EFD-8386-CDD0540E818F The Bestway Foundation BALANCE SHEET as at 30 June 2025 Nole 2025 2024 Current assets Debtors Cash at bank and ID hand 15,862 3,733,237 21,096 3.849,885 Liabilities Ci'editors falling due within oiie yeai. (8,520) (8,160) Net eurrent 3SS¢t5 3,740,579 3.862,821 Net assets 3.740,579 3,862,821 TOTAL FUNDS 3,740.579 3,862,821 Appi'oved and authorised foi. issue by the Boai'd of Trustees on 20 April 2026 and signed on its behalf by Dawood P¢rYtz Tnistee Tl)e notes on page5 1 I to 15 foi'm part of tl)ese fmallcial statetnents. Page 9
Docusign EnvelopÈ ID". 5823245A-49D5-8EFD-8386-CDD0540E818F The Bestway Foundation STATEMENT OF CASHFLOWS as at 30 June 2025 2025 2024 Casb flows from oper•ling actlvitie5 Net incomelexpenditurel for the year (122,242) 1584,547) Adjustjnent for: De¢Tease I linciyasel in d¢biors Incr¢asel Ideoreasel in creditors 5,234 360 (1,542) N¢t cash providedl(expended) by op¢rotRng aetlvities (116,648) (615,729) Change In c95h and c*sb tqulvalenls in the year Cash and cash ¢quivaleiits brought foi'ward (116,648) (615,729) 3,849,885 4,465,614 Casli and cash equivaleiits Caled fonvard 3,733.237 3,849,885 The notes on pages I I to E5 forjn part of these ron¢la1 $t8tements. Page 10
Docusign EnvelopÈ ID". 5823245A-49D5-8EFD-8386-CDD0540E818F The Bestway Foundation NOTES TO THE FINANCIAL STATEMENTS (continued) foi. the ear ended 30 June 2025 ACCOiJNTING POLICIES GENERAL tNFORMATION The Be$tway Foundation ("th¢ charity") is an unincoiyorated charity Established under a deed of covenant dated 20 July 1987 and a supplemental deed tmd deed of vaiiation dated 30 June 1992. The chaiity is registered with the Charity Comillission for England and Wales, charity registration number 297178. The addiess of Éhe charity's pi'incipal pla¢¢ of business is The Bestway Foundation, Abbey Road, London, NWIO 7BW, BASIS OF PREPARATION The financial statements air prepai'ed under the historical cost ronveRtion as modifjed by the Èntlusion of investnientg at Vitluatioii and it) aocord&nce with appli¢abl¢ United Kingdoin accounting standards. The f]nan¢ial statetneiils bave be¢n prepared in accordance with the Statement of Recnjnmcndcd Practiee.. Accoupting and REpoitiiig bycharities pi'ep&iing their accounts in accordance with the Financial RcpoitÈng Standard applicabl¥ in the UK and Republic ot IiEland (FKS 102) (issued October 2019) and UK G¢neY&lly Accept¢d AcLounting Pi'ac¢ice. Tl)¢ financial stateinents liave been prepared to give a 'tru¢ and fall" view and l)ave d¢parted from the Charities (Accuunls aiid Reports) ReEul&tioiis 2008 only to the exteiit required to prijvidc a 'trnc and fair view.. Thi& depailuiy has involved tollowing the Accounting and Reporting by C.liariti&8.' %tatcment of ReKommended Prd¢lice applicable to cliarities pi'epai'ing their accounts in accordance with thc financial Rwortii)g Sl£indard applicable it) the UK and Kepubli¢ of Ireland issued in Octobcr 2019 r8ther than the A¢counlÉng and Repoiting by Charities.. Statement of K¢comniended Pi'actice cffrctiY¢ fi'om l Apiil 2005 which has since beeii withdi'awn. B¢stway Foundation meets tke definition of a public b¢n¢fit Bntity undei. FRS 102. Assets 8tt4t liabilities are instially irLognised at historical cost or transaction value unless otheiivise stated in the relevant 8ccounting policy. Thes¢ fancial statetn6nts alt prepai'ed in stei'ling which is tbe functional curiEncy of the chaiity. Monetwy moullts in Éhese flnancial statements al'e round¢d to the neai'est wholc £1, ex¢¢pt wtLere otherwise indicated. GOtNG CONCERN No indterial unc¢rtaEritie8 that may cast ally 5igThÉficaE]t doubt about the ability of the charity to continue as a going conceni liave been identified by the trusle¢s, therefore the fii)ancial Statements have been pi'epared on 8 ¥uing concern b85ig. As of 30 June 2025. the chai'ity has net current a%%cts of £3,740.579 (2024.. £3,862.821). At tlie time of approving th¢ financial statements and in ¢onsid¢i'ation of other events the trustees have a i'easonable expectation that the Foundatioft) has adequat¢ re%oui¢¢s to continue in operational existence for at Itast twelve mOt11S fi'oin tlie date of the signing tlie audit I'eport due to existing level of cash r¢sei'ves and the fact that the annual fixed costs of the FoundatiQTb are minimal. Thus, the trustees colltinue to adopt the goillg coilcern basi5 of accounting in preparing tlie f1¢181 statements. INCOMtNG RESOURCES Cash donations, gifts and legacies are included in fi]11 in the Statement of Financial Activities when it is receivable ad are separately allocated betweeii restt'i¢ted and unre8h'i¢ted funds where appropriat¢. tNVFSTMENT tNCOME Income from investments is accounted for in the p.10d in which the charity is entitled to Ceipt. Page 11
Docusign EnvelopÈ ID". 5823245A-49D5-8EFD-8386-CDD0540E818F The Bestway Foundation NOTES TO THE F]NANCIAL STATEMENTS (continued) for the ear ended 30 June 2025 ACCOUNTING POLICIES (CONTtNUEDI RESOURCES EXPENDED Expendituit is included on acctwals basis. Support costs Comprise costs foi the running of th¢ GhaTity itself as an organisation. GRANTS PAYABLE Grants payabl¢ are charged in tl)e year when the offer is conveyed to the recipient except in those case5 where the off¢i' is condiiional, such '&tS being iEcogDi5¢d as expenditure when the conditions attaching are fulfilled. Gi'&nls offered subject to conditions whÉch have noi been met at the year-end are noled as a eominitment, but not ac¢iued ag expeodilure. GOVBRNANCE COSTS Govemance costs comprise all costs involvu]g the public accountability of the charity and its compliatice witl) regulation alld good practice. INVESTMENTS Fixed asset inveslment& Irpi'esenting quoted securities held for rc%ale, are stated at closing mid-mad(et value at the balLsllce sheet date. Ally gaiD8 01. losses i)n Irvaluation are taken to the Statement of Finan¢ial Activities. REALISED AbJD UNREALISED GAINS AND LOSSES All gains and losses taken to the Staletnent of Financial A¢tivkties as they arise. Realised gains and losses on investinents ar6 calculated as the diffeyenee bctwccn sales pi'oceeds and opening fair value Ipurchase dale if later). Urn'ealised gains and losses arc calculated as the diff¢reiite between the fail. value at the year end and opening tall. value {purchase date if l&tci'). Realised and unyealised gains and Iossc5 lire not sepa12ted in the Statement of Financial Activities. FINANCIAL INSTRUMENTS T]1¢ charity only h8s finat)cial ass¢ts atLd financial li&bililies of a kind that qualify as ba$1¢ f¥naftcial instruTn¢nls. Basic fthattcial instt'ument5 aye initially recognised at tt'ansaction valiie and subsequently measuTed at th¢sr settlement value with the exception of listtd 1llvestsnets which are sui7sequ¢ntly measured at fair value. DEBTORS Trade and other debtors are recognÉsed attl)e settlemeni amount due. Prepayments al'e valued attlie amount prepaid. CASH AT BANK Cash at bank tncludes cash and 5hoil terni highly liquid investtn¢nts with a shoit nialurity of six montlis oi. less from the date of acquisition or openiiig of th¢ deposit or si11]ar account. CREDITORS Creditoys are recognised wlieir the charity has a pi'esent obligation i'esulting fi'o]n a past event that will pi'obably result in the tt'ansfei. of funds to a Ihii'd party and tb¢ ainount due to 5ettl¢ tl)e obligation can be easured oi. estiniated reliably. Creditors ai¢ noi'mally recogntsed at theii. settleinent ainount. Page 12
Docusign EnvelopÈ ID". 5823245A-49D5-8EFD-8386-CDD0540E818F The Bestway Foundation NOTES TO THE FINANCIAL STATEMENTS (continu¢d) foi the ear ended 30 June 2025 ACCOUNTING POLICIES ICONTtNUED) FUND ACCOUNT0 Funds held by the charity pr¢ uTtre5tricted general funds- these are fijnds which Can be used itk accoixlance with the charitsble objects al the discretion of the tiustees. Restricted fvnds are donat10115 which the donor has specified are to be solely u5¢d fo¥ particular &reas of Ihe charity's work or for Specific projects being llndertkken by the c[rity. INCO FROM DONATIONS 2025 2024 Donations amd legacies 366 191 Income fiDm donat&ons was £187,441 (2024.. £366,191) of which £187,441 (2024.. £235,280) was unrestricted Étnd £Nil (2024.. £130,911) was iesti'i¢t¢d. tNVESTMENT INCOME 2025 2024 Interest- UK fixed interest securities 170,726 159,222 Income from investmellts was £170,726 (2024.. £159,222). all of which is unrestricted. ANALYSIS OF EXPENDITURE ON CHARLTABLE ACTIVITIES 2025 2024 Grants payable (Note 5) Support Costs (Note 6) Bank cl?arges 471,709 8,520 180 480,409 1,101,580 8,160 221 1,109,961 Expenditure on ¢haYilable activities was £480.409 (2024.. £1,109,961). GRANTS PAYABLE 2025 2024 The aillouni payable in the y¢aT cornprises: Registered UK chai'ities Foreign charities and individuals 232,645 239,064 243,450 858,130 471,709 1,101,580 Page 13
Docusign EnvelopÈ ID". 5823245A-49D5-8EFD-8386-CDD0540E818F The Bestway Foundation NOTES TO THE FtNANCIAL STATEMENTS (continued) foi. the ear ended 30 June 2025 GRANTS PAYABLE (continued) The number of 'antS Inade to ii)dividwdls was 20 (2024.. 19). GRANTS PAYABLE TO UK CHARITIES 2025 2024 British Asian TNst Crimesloppers National Hospital forNeurology Duke of Edinbui'gh Awards (£IOOk Royal Ascot) Grocei'y Aid Ansar Youth Project 55,000 40,000 70,000 40,000 100,000 15,000 18,450 115,000 20,646 1,999 232 645 243 450 The number of gi'ants ade to institutions was 5 (2024.. 5). ANALYSIS OF SUPPORT COSTS 2025 2024 Audit fe¢ TRUSTEES EMOLUMENTS AND KEY MANAGEMENT PERSOI4NEL The chai'ity W11derS its key management personnel lo be Éts trttstees. No ttvstees I'eceived any emoluments or reimburseinent of expenses foi. the year eud¢d 30 JuThe 2025 (2024.. Nil). Dui'ing the year there were no eiiiployees of tli¢ fout)dation. In 2024 diere were no employees. DEBTORS 2025 2024 Other debtors 15,862 21,096 CREDITORS- amounts falling due witl)in one year 2025 2024 Aceruals Page 14
Docusign EnvelopÈ ID". 5823245A-49D5-8EFD-8386-CDD0540E818F The Bestway Foundation NOTES TO THE FINANCtAL STATESIENTs (continued) foi. the c. ended 30 June 2025 10 FUNDS Balance at l July 2024 Balan¢e at 30 Sune 2025 Incoming Expended ResouiKes Resouires Gains olk Transfers InvestmeT)Is Unrestricted Restt'i¢ted 3,862,821 358,168 (480,409) 3,740,579 3,862,821 358,168 (480,409) 3,740,579 FUNDS- PIUOR PERIOD Balattce at l July 2023 Balance at 30 Juue 2024 Incon)ing Expended Resources R¢50urces Gains on Ti'ansfer5 Investtnents UTErcstt'i¢ted Restri¢ted 4,015,157 432,211 394,502 (546,838) 130,912 (563,123) 3,862.821 4,447.368 525,414 (1,109,961) 3,862.821 12 PE,LATED PARTY TRANSACTIONS The Foundation's lated partÉe5, tl)e nature of the relationship and the amounts of trdnsa¢tion5 with t¢M during the year wei'e as follows.. Relafedpoity Rellllionship NuthpE ofh'artS(7cliolls Bestwgy Wholesale Ltd Income from Ascot Event & PFR £186,241 (2D24.. £366, 192) Crimestoppers Tru51 Grants paid to the ch.1¢Y £40.000 (2024.. £40,000) British Asian Trust Gi?nts paid to the charity £55,000 (2024.. £70,000) Nalui'e ofFelokionships l All the trustees are directors and shareholders of Bestway Wl)olesale Liiniled. 2 Lord Zaineer Moliammed Choudrey is a Tyustee Df Ci'ime5toppers Trust and the Chaii. of the UK Advi501'y CDuiiciI of BTltish Asian Trust. Page 15