TWO HANDS CHARITABLE TRUST
Latest income
£1.4m
Latest spending
£713k
Registered
2021
Accounts read
FY2023
Financial health, per its FY2023 accounts
The accounts state that the charity held unrestricted reserves of £1,773,498 against a policy target of less than £15,000, indicating a significant surplus. The trustees note that planned significant grants in the following year are expected to reduce these current reserves.
What the accounts disclose
Reserves policy: 6 month's equivalent of the expenditure will be less than 815,000 (held: £1.8m)
“The actual reserves of the charity at 31 October 2023 was 81,773,498 (2022; f75, 161) in addition to the two properties treated as designated funds. The trustees have planned to make significant grants in the year ended 31 October 2024 and this should reduce the current reserves.”
Per its FY2023 accounts as filed with the Charity Commission.
Related-party transaction: Donations from Holbud Limited, a company where trustee Hasnain Merali is a director and shareholder.
“The Charity received donations of f 2,507,000 6om Holbud Limited. One of the trustee, Hasnain Marsh is a director and shareholder of Holbud Limited.” — page 20
Per its FY2023 accounts as filed with the Charity Commission.
Trading subsidiary: Mehfil e-Ali Foundation
“The Charity has a subsidiary organisation, Mehfil e-Ali Foundation a not-for-profit organisation, based in The Hague, in the Netherlands.” — page 4
Per its FY2023 accounts as filed with the Charity Commission.
Structured financials (annual return, FY ending 31/10/2024)
Total income
£1.4m
Total spending
£713k
Reserves (reported)
£2.5m
Employees
0
Trustees
- Abbasali Hasnain Merali Dewji
- Hasnain Roshanali Merali
- Hyderali Zafferali Datoo
- Qasim Hasnain Roshanali Merali Dewji
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/10/2024 | £1.4m | £713k |
| 31/10/2023 | £2.5m | £824k |
| 31/10/2022 | £3.5m | £1.9m |
Common questions
Is TWO HANDS CHARITABLE TRUST financially healthy?
The accounts state that the charity held unrestricted reserves of £1,773,498 against a policy target of less than £15,000, indicating a significant surplus. The trustees note that planned significant grants in the following year are expected to reduce these current reserves. Its FY2023 accounts were audited by Xeinadin Audit Limited.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE M D AND S CHARITABLE TRUST | 1 | £230k |
| THE TURNER-KIRK TRUST | 1 | £33k |
| MYR CHARITABLE TRUST | 1 | £8k |
| MUSLIM COMMUNITY & EDUCATION CENTRE (MCEC) | 1 | £5k |