SWRFN Charitable Trust SCIO
TRUSTEES' ANNUAL REPORT AND FINANCIAL STATEMENTS
for the year ended 31 March 2026
Scottish Charity number: SC047520
SWRFN Charitable Trust
Contents
| Page | |
|---|---|
| Legal and administrative information | 3 |
| Trustees' report | 4 - 5 |
| Independent examiners' report | 6 - 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 11 |
SWRFN Charitable Trust
Legal and administrative information
| Charity number | SC047520 |
|---|---|
| Registered office | 234 Arbroath Road |
| Dundee | |
| DD4 7SB | |
| Trustees | Faisal Hussein |
| Nafisa Fazlanie | |
| Vali Hussein | |
| Riaz Hussein | |
| Safiya Suida | |
| Secretary | Nafisa Fazlanie |
| Independent examiner | Sajid Alimahomed FCCA |
| SA Accounting Services | |
| 34 Seaforth Road | |
| West Ferry | |
| Dundee DD5 1QH | |
| Bankers | Bank of Scotland |
| 2 West Marketgait | |
| Dundee | |
| DD1 1QN |
Page | 3
SWRFN Charitable Trust
Report of the trustees (incorporating the directors' report) for the year ended 31 March 2026
The trustees present their report and the financial statements for the year ended 31 March 2026. The trustees who served during the year and up to the date of this report are set out on page 3.
Constitution
The Charity is a Scottish Charitable Incorporated Organisation (a SCIO). It was registered in its current legal form on 21[st] June 2017. The trustees are responsible for the administration and direction of the charity.
It has a single tier structure and as such the trustees are the members of the charity.
Structure, governance and management
The organisation is a registered Scottish Charity. The charity Constitution establishes the objects and powers of the charity. The Board of Trustees currently has 5 members who meet every quarter and are responsible for the strategic direction and policy of the organisation together with sound financial and operational control. The charity has assessed the major risks to which the charity is exposed and is satisfied that systems and procedures are in place to mitigate our exposure to the major risks, although no formal risk assessment has taken place.
Recruitment and appointment of Trustees
All of the charity's trustees are appointed or reappointed by the members at the annual general meeting. New trustees are recruited on an ad hoc basis, as and when required.
Objectives
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The prevention or relief of poverty both in UK and overseas.
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The advancement of education both in UK and overseas.
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The advancement of health both in UK and overseas.
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The advancement of citizenship or community development (including rural or urban regeneration) both in UK and overseas.
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The relief of those in need by reason of age, ill-health, disability, financial hardship or other disadvantage both in UK and overseas.
Page | 4
SWRFN Charitable Trust
Report of the trustees (incorporating the directors' report) for the year ended 31 March 2026
Achievements and performance
Building on the successes of the previous year, SWRFN Charitable Trust continued to support short/medium term projects in the UK and overseas totalling £32,640 (2025: £30,520) for the year. Our main partner for the year was World Care Foundation. We supported both in the development and growth of orphanages in Palestine and Pakistan. We continued to support local UK projects ranging from foodbanks to youth initiatives.
For the coming year, we aim to provide short and medium term support world-wide including continuous support for an orphanage in Cairo.
Going Concern
All income has continued to be received and donations from these funds were made as normal. The trustees have a reasonable expectation that the charity has adequate resources to continue in operation for the foreseeable future
Financial review
The results for the year are set out in the statement of financial activities on page 7.
The reserves of the Trust arise from original and subsequent revenue donations. At the end of the current year, the charity had unrestricted funds of £41,168 (2025 : £38,282)
Income and expenditure are monitored in total on a regular basis to ensure the continuing ability of the Trust to meet its objectives.
Trustees' remuneration
The trustees did not receive any remuneration or expenses during the year.
On behalf of the Board of Trustees
Nafisa Fazlanie
Secretary
31 July 2026
Page | 5
SWRFN Charitable Trust
Independent examiner's report to the trustees on the unaudited financial statements of SWRFN Charitable Trust.
I report on the accounts for the year ended 31 March 2026 set out on pages 4 to 11.
Respective responsibilities of trustees and independent examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 (the Act) and the Charities Accounts (Scotland) Regulations 2006. The charity's trustees consider that the audit requirement of Regulation 10(1) (d) of the Accounts Regulations does not apply. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to state, on the basis of my examination as required under section 44(1) (c) of the Act, whether particular matters have come to my attention.
Basis of Independent examiner's statement
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on whether the accounts present a 'true and fair view'.
Independent examiner's statement
In the course of my examination, no matter has come to my attention:
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which gives me reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that:
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proper accounting records are kept in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
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to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations have not been met, or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Sajid Alimahomed FCCA Independent examiner
SA Accounting Services 34 Seaforth Road West Ferry Dundee DD5 1QH
Date: 31 July 2026
Page | 6
SWRFN Charitable Trust
Statement of financial activities for the year ended 31 March 2026
| 2026 | 2025 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Incoming resources | |||||
| Voluntary income: | |||||
| Donations | 35,526 | 36,674 | |||
| _ | _ | ||||
| Total incoming resources | 35,526 | 36,674 | |||
| Resources expended | |||||
| Charitable activities | 2 | 32,640 | 30,520 | ||
| Governance costs | - | - | |||
| _ | _ | ||||
| Total resources expended | 32,640 | 30,520 | |||
| _ | _ | ||||
| Net (outgoing) / incoming resources | 2,886 | 6,154 | |||
| Total funds brought forward | 38,282 | 32,128 | |||
| _ | _ | ||||
| Funds carried forward | 41,168 | 38,282 | |||
| ====== | ====== |
All funds are unrestricted and all activities relate to continuing operations.
Page | 7
SWRFN Charitable Trust
Balance sheet as at 31 March 2026
----- Start of picture text -----
Note 2026 2025
£ £
Current assets
Cash at bank and in hand 41,168 38,282
_ _
Total assets 41,168 38,282
====== ======
Funds
Unrestricted fund 4 41,168 38,282
===== =====
----- End of picture text -----
The notes on pages 9 - 10 form part of these accounts.
Approved by the Trustees on 31 July 2026 and signed on its behalf by
Faisal Hussein Vali Hussein Trustee Trustee
Page | 8
SWRFN Charitable Trust
Notes to the accounts
1 Accounting policies
The accounts are prepared under the historical cost convention and include the results of the Trust’s operations, all of which are continuing. The accounts have been compiled in accordance with the Statement of Recommended Practice - “Accounting and Reporting by Charities” (SORP 2005), and comply with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended)
Unrestricted funds
Expendable at the discretion of the Trustees in furtherance of the objectives of The SWRFN Charitable Trust.
Incoming resources
Income from donations, gifts and legacies is accounted for in the income and expenditure account on a cash basis. All other income is accounted for on an accruals basis.
Grants
Grants comprise those paid in the accounting period and, when applicable, include grants payable in future accounting periods where there exists a legal obligation to make such payments.
Resources expended and irrecoverable VAT
Resources expended are included in the accounts on an accruals basis. Irrecoverable VAT is included in the related expenditure.
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Charitable activities include expenditure associated with grant making.
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• Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.
Statement of financial activities
This statement, produced to comply with the Statement of Recommended Practice effectively incorporates the income and expenditure account in a different format, forming a single statement of all movements between opening and closing fund balances.
Page | 9
SWRFN Charitable Trust
Notes to the accounts
| 2 | Charitable activities | 2026 | 2025 |
|---|---|---|---|
| £ | £ | ||
| Grants payable | |||
| UK charitable donations | 3,390 | 1,620 | |
| Overseas Support | 29,250 | 28,900 | |
| _ | _ | ||
| Total grants payable | 32,640 | 30,520 | |
| ===== | ===== | ||
| 3 | Unrestricted Funds | ||
| £ | £ | ||
| Brought forward | 38,282 | 32,128 | |
| Income in year | 35,526 | 36,674 | |
| Expenditure in year | (32,640) | (30,520) | |
| ______ | ______ | ||
| At 31 March 2026 | 41,168 | 38,282 | |
| ====== | ====== |
4 Related parties
During the period trustees donated £20,800 to SWRFN Charitable Trust (2025 : £11,230). The donations were fully paid at 31 March 2026.
Page | 10