2021-10-31-accounts

HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE Charity Registration Number: 1017772 Company Registration Number : 02790595

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

REPORTING ACCOUNTANTS:

AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E1 4SA TEL: [phone]

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FOR THE YEAR ENDED 31 OCTOBER 2021

HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE

CONTENTS		Pages
Information of financial Statements	:	3
Report of the Executive Committee	:	4 - 5.
Statement of responsibilities of the	Committee:	6
Independent Examiner's Report	:	7
Income and Expenditure Accounts	:	8
Statement of Assets and Liabilities	:	10
Notes to the Accounts		11 -12.

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HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE

FOR THE YEAR ENDED 31 OCTOBER 2021

MANAGEMENT COMMITTEE

CHAIR PERSON

Mohammed Abdus Subhan

GENERAL SECRETARY Dr Mohammed Kashim Bin Subhan

TREASURER Hafiz Oliur Rahman Choudhury ADDRESS 304 Burdett Road London E14 7DQ

BANKER BARCLAYS BANK PLC

INDEPENDENT EXAMINER

AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E1 4SA TEL: [phone]

Charity's Trustees:

Mohammed Abdus Subhan Fateha Subhan Begum Momtaz Begum Dr Mohammed Kashim Bin Subhan Hafiz Oliur Rahman Choudhury

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HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 OCTOBER 2021

The trustees present their report and financial statements for the year ended 31 October 2021

The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities issued in 2005 in preparing the annual report and financial statements of the Charity.

Legal Status:

Company: Limited by guarantee, company number: 02790595

Charity: Registered with the Charity Commission, Charity Number: 1017772

Objects, Principal Activities and Organisation of the Charity

The Charity is constituted as a company limited by guarantee, and is therefore governed by a memorandum and articles of association. AND

The Charity's objects are for the benefit of the inhabitants of London Borough of Tower Hamlets, and in particular members of the Muslim Minority Ethnic Communities but exclusively who are in hardship by:

To advance the Islamic faith for the benefits of the public in Tower Hamlets in particular but not exclusively by the provision of a Mosque and Education and Education and cultural centre

Hifzul Quran and Islamic Education Centre helps families living

in Tower Hamlets, from a wide range of backgrounds, especially those on low income or facing other forms of cultural or social disadvantage to become independent, and to access services which can help them to develop skills, with a great importance on supporting the needs of Bangladeshi families and promoting social cohesion within the wider community.

2: Advances the Islamic faith and advance education of the general public in London by;

(i) Establishing classes that supports children to help themselves to develop confidence, and gain true

understanding of the Quran and Sunnah and help them fulfil their roles as children, as a member of the community and most importanly as an individual.

3: Helps children preserve both their religious and cultural identity in order to become model citizens

and to work in partnership with parents and the local authority to share responsibilities in order to educate and teach them cultural values and maintain their identity.

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HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE

REPORT OF THE EXECUTIVE COMMITTEE

FOR THE YEAR ENDED 31 OCTOBER 2021

• 4: To learn and adopt good manners to excel by preventing young children from negative influence

and encourage them to focus on their education and making a difference in the community/society.

• 5: Providing the provision of places of worship; raising awarness and understanding of religious beliefs and practices; carrying out religious devotional acts; carrying out missionary and outreach work.

Organisation:

A Management Committee, the members of which are both directors and trustees manages the affairs of the company and charity.

The Management Committee manages the business of the company and charity including the paying of all expenses.

Directors and shareholding

The directors do not have any shares in the company, the company being limited by guarantee. There was a change in the directorship of the company during the year under consideration

Trustees:

Trustees, who are all members of the executive committee, and who served during the year are set out on page 3.

The trustees are elected at the Annual General Meeting, for membership of the Executive Committee and serve until the end of the next Annual General Meeting, where they can stand for re- election as members of the new Executive Committee.

Directors’ / Trustees responsibilities in relation to the financial statements

The directors are required by company law to prepare financial statements for each financial year which give a true and fair view of the financial activities of the charity and of its financial position at the end of that year. In preparing those financial statements the directors are required to:

REF!

• Select suitable accounting policies and then apply them consistently;

• Observe the methods and principles in the Charities SORP;

• Make judgements and accounting estimates that are reasonable and prudent;

• Prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation

The Directors / Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the Financial Statements comply with the Charities Act 2011.

The Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities

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VOLUNTEERS:

The Trustees wish to record their appreciation on behalf of the Charity and community for the volunteers who . assist in the smooth running of the Charity and are critical in helping to keeps the running costs down

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The Trustees have conducted their own review of the major risks to which the Charity is exposed and steps have been initiated to minimise the identified risks. All functions of the Charity are subjected to periodic review resulting in a process of ongoing improvement.

All staff and volunteers are trained and have all the required statutory and regulatory clearances required.

SERIOUS INCIDENTS AND EXCEPTIONS:

The Trustees are pleased to note, that there were no incidents which gave rise to the need for the Trustees to lodge a Serious Incident Report with the Charity Commission. Furthermore, there were no Exceptions recorded and which gave rise to the need for the Trustees to record on the Charity’s Exceptions’ Register.

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This report, which has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 applicable to small companies.

INDEPENDENT EXAMINER

According to the provisions of the Charities Act 1993, the Committee has agreed that and audit is not required for this financial year. However due to provisions of the same act an independent examiner is required and AM Accountancy Services appointed as external Accountant or Independent Examiner.

Transaction and Financial Position

The Statement of Financial Activities shows net Loss for the year of £5981 and our accumulated funds stand at £185504 in total.

AM Accountancy Services carried out an independent examination of the accounts included in the report.

This report, which has been prepared in accordance with the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities issued in 2005.

Approved by the trustees and signed on its behalf by

This report was approved by the Executive Committee on and signed on their behalf.

……………………… Mohammed Abdus Subhan (Chair person) Date:12/07/2022

…………………………..

Dr Mohammed Kashim Bin Subhan (General Secretary) Date:12/07/2022

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Accountants’ Report

To the Trustees of HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE

FOR THE YEAR ENDED 31 OCTOBER 2021

We report on the accounts for the year ended 31 October 2021 set out on pages 8 to 12 which have been prepared under the historical cost convention and the accounting policies set out in note 1 to the financial statements.

Respective Responsibilities of Trustees and Accountants

As described on page 5 the trustees are responsible for the preparation of the financial statements, and they consider that the trust is exempt from an audit. It is our responsibility to carry out procedures designed to enable us to report our opinion to you.

Basis of Opinion

We conducted our work in accordance with the Statement of Standards for Reporting Accountants, and so our procedures consisted of comparing the accounts with the accounting records kept by the charity, and making such limited enquiries of the trustees and officers as we considered necessary for the purpose of this report. These procedures provide only the assurance expressed in our opinion.

Opinion

In our opinion:

• (a) The accounts are in agreement with the accounting records kept by the charity under the requirements of the Statement of Recommended Practice – Accounting and Reporting by Charities;

• (b) Having regard only to, and on the basis of, the information contained in those accounts:

• (1) The accounts have been drawn up in a manner consistent with the accounting requirements specified the Statement of Recommended Practice – Accounting and Reporting by Charities, and

• (2) The charity satisfied the conditions for the exemption from an audit of the accounts for the year specified in the Charities Act.

• (3) This unaudited Account we have prepared in accordance with the figure, information and explanation we have received from the management of the current committee.

AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E1 4SA

Date:12/07/2022

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HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE Statement of Financial Activities (Income & Expense Statement) FOR THE YEAR ENDED 31 OCTOBER 2021

----- Start of picture text -----
2021 2020
Notes Unrestricted Restricted Total Total
£ £ £ £
Incoming Resources
JRS Grant 4,781 4,781 2,435
Memebership fees 560 560
LBTH Grant 25,000
Friday Collections
Parents Contribution (Madrasa)
All Other General Donations 9,382 9,382 14,381
Donations Via Gift Aid & Just Giving
Rental Income 35,645 35,645 32,000
Total Incoming Resources 45,587 4,781 50,368 73,816
Resources Expended
Direct Charitable Expenditure
Printing, postage, stationery & Advertisement 86 86 545
Telephone, fax and photocopies 1,231 1,231 1,275
Rates and Water 0 0 992
Light, Heat and Water 2,145 2,145 1,768
Other Finance Charges Mortgage Interest 17,841 17,841 17,444
Refreshments 0 0 68
Cleaning 0 0 481
Wages and Volunteer expenses 4,426 4,781 9,207 8,110
Events and activities (Project Costs) 0 0 0
Direct charitable expenditure 25,729 4,781 30,510 30,683
Management & Administration Expenses:
Accountancy 600 600 600
Legal and Professional 10,210 10,210 3,350
Just giving fees 0 0 0
Staff Training 0 0 0
Insurance 0 0 555
Building Insurance 0 0 0
Travell Expense 0 0 910
Depreciation 199 199 221
Bank Charges 180 180 277
Repairs 14,650 14,650 245
Management & Administration Expenses: 25,839 25,839 6,158
Total Resources Expended 51,568 4,781 56,349 36,841
Net Incoming Resources / -5,981 0 -5,981 36,975
(resources expended)
Net Movement funds for the -5,981 0 -5,981
period:
Total Funds Brought forward 154,510 191,485
Balance at 31 October 2021 185,504 191,485
----- End of picture text -----

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HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE

Summary Income and Expenditure Account FOR THE YEAR ENDED 31 OCTOBER 2021

Notes Income Total expenditure Net Surplus (Deficit) for the financial year	2021 £ 50,368 56,349 -5,981

There were no recognised gains other than those included in the Income and Expenditure Account for current year.

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HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE

Statement of Assets & Liabilities ( Balance Sheet) As at 31 October 2021

NOTE Fixed Assets Fixture, Fittings and Equipments 2 Freehold Property Current Assets Cash at Bank & in Hand Other Debtor paye Current Liabilities Amount falling due to one year Accruals 4 Qurze Hasana ( Interest Free Loan) 5 NET CURRENT ASSETS / (LIABILITIES) Amount falling due more than one year Mortgage TOTAL ASSETS LESS CURRENT LIABILITIES FUNDS: Brought Forward 6 Excess/(Deficit) of income over expenditure Total Funds	£ £ 405,402 537,471 942,873 26,006 26,006 15 26,021 1,705 157,816 159,521 133,500 - 623,869 - 185,504 191,485 5,981 - 185,504 2021	405,601 537,471 943,072 29623 29623 1300 156,041 157,341 -127,718 -623,869 191,485 154,510 36,975 191,485 2020

The financial statements were approved by the Executive Committee and signed on their behalf:

………………………….. ………………………….. …………………………… Mohammed Abdus Subhan Dr Mohammed Kashim Bin Subhan Hafiz Oliur Rahman Choud (Chair person) (General Secretary) (Treasurer) Date: Date: Date:

The Notes on pages 10 to 12 form part of the financial statements.

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HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE

FOR THE YEAR ENDED 31 OCTOBER 2021 NOTES TO THE ACCOUNTS

1. ACCOUNTING POLICIES

a. Basis of Accounting

Basis of accounting The Financial Statements have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets and investments measured at market value.

The Financial Statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), and the requirements of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) (SORP 2015).

b. Grants

Revenue grants are credited to the Income and Expenditure account on a receivable basis.

c. Donations

Donation are recorded on a receipt basis.

d. Incoming Resources

Voluntary income and donations are included in incoming resources when they are receivable, except when the donors specify that they must be used in future accounting periods or donors' conditions have not been fulfilled, then the income is deferred. The income from fundraising ventures is shown gross, with the associated costs included in fundraising costs.

e. Resources Expended

Resources expended are included in the Statement of Financial Activities on accruals basis, inclusive of any VAT that cannot be recovered.

Expenditure that is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of those resources.

f. Going Concern Basis

The financial statements have been prepared on the going concern basis, as in the opinion of the trustees, there are no issues arising which would suggest any other basis as being more appropriate.

g. Administration Costs

Administration expenditure includes all expenditure not directly related to the charitable activity.

h. Depreciation:

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixture, Fitting and Equipment

10 % on Reducing Balance method

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HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE

FOR THE YEAR ENDED 31 OCTOBER 2021 NOTES TO THE ACCOUNTS

2. FIXED ASSETS

COST At 01 November 2020 Balance Brought Forward Additions At 31 October 2020 DEPRECIATION At 01 November 2020 Charge for the year At 01 November 2020 NET BOOK VALUE At 01 November 2020 At 31 October 2021	Freehold Property Total £ £ £ £ - - - 1,989 403,612 537,471 943,072 - - - - 1,989 403,612 537,471 943,072 - - - - 199 - - 199 199 - - 199 1,989 - - 1,790 403,612 537,471 942,873 Fixtures, fittings & Improvements Building and Construction

3. Net Surplus of the Financial Year

The excess of expenditure over income is stated after charging:

Accountants' remuneration Depreciation . Creditors and Acruals Telephone Electricity Accountancy 5 Qurze Hasana ( Interest Free Loan) Balance B/F Piad during the year New amount taken Balance C/F 6 Balance at 31 October 2020 Balance at 1 November 2020 Excess/ (Deficit) of Income over Expenditure Balance at 31 October 2021	2021 £ 600 199 1,005 0 700 1,705 156,041 0 1,775 157,816 £ 191,485 191,485 -5,981 185,504

4. Creditors and Acruals

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