HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE Charity Registration Number: 1017772 Company Registration Number . 02790595 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 REPORfiNG ACCOUNTANTS.. AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDofo E14SA TEL." 020 7790 6111 Page l of 12 HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE FOR THE YEAR ENDED 31 OCTOBER 2023 CONTENTS Pages Information ol finanaal Statements Report of the Executive Committee Statement of responsibilities ol the Committee.. Independent Exarniner's Report I￿Ome and Expenditure Accounts Statement ol Assets and Liabilities 10 Notes to the A¢count5 11-12. Pag82of 12 HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE FOR THE YEAR ENOED 31 OCTOBER 2023 MANAGEMENT COMMITTEE CHAIR PEFISOtr4 Mohamrned Abdus Subhan GENERAL SECRETARY Dr Moharnmed Kashim Bin Subhan TREASURER Hafiz Oliur Rahman Choudhury ADDRESS 304 Burdett Road London E147DQ BANKER BARCLAYS BANK PLC INDEPENDENT EXAMINER AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E14SA TEL. 020 7790 6111 Chari s Truste6s: Mohammed Abdus Subhan Fateha Subhan Begurn Momlaz BegL5m Dr Mohammed Kashim 8in Subhan Hafiz Oliur R8hman Choudhury Page 3 of 12 HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 OGTOBER 2023 The Iruslees present their report and linancial slalemenls for the year ended 31 October 2023 The Truslees havc adopted tlie pi'ovisioiis of Ilie Statemeni of Re¢omiiiended Practice (SORP) Accoiinting and Reporting by Charities issued in 2005 in pi'eparing tlie aiinual repori and financial stateinenls of tlie Charity. Legal Status: Company.. Limited by g111É rantec, company nutnber.. 02790595 Charity.. Registered with lh¢ Charity Commission, ch￿-ItY NuLnbei': 10 I7772 Objects, Principal Activities and Organisation of thc Charity The Cliarity is eonstitiittd as a coini)any liniited by guarantee, and is rheTefore ¥overlled by a Ineinorandum and arti¢les 01-￿sOCiatIon. AND The Cl)arity's objects al'e foi. tlie beiiefit of the inhabitants of Loiidon Borough of 'fower Hanilets. and in pai1iculdr tneinbers of the Musliin Mii)ority Ethnic Cominunitie5 but exclusively wlio are in t]ardship by-. To advance the Islamic faith for Ilic benefits of the public iii Tower Hamlets in particular but i)ol exclLisively by the provision of a Mosque and Educ¢ltion and Education aiid cultural centre Hifzul Quran aiid Islamic Educaiion Centre helps families livinLTr in 'fower Haiiilets, frotn a wÉd¢ ratige of backgrounds. especicllly those oji low iiicotne or facin￿ oiher foi'iiis ol-cu1115ral or social disadvaiili< ge io becoine independei)t. and to a¢ce55 sciviccs which can help thci1) io develop ski115. Wlth a oreai importance on siipportlLIL the ii¢¢ds of Bai)gladeslii lainilies aiid pro￿l011ng social Coliesion witliin the ivider communiiy. 2.. Advances tlie IslaiTEiC laitl) aiid advance ¢ducation of tlie geiieral public in Londoii by,. (il Establishing classe5 tl)at supports cliildren to lielp themselves to d¢velop conFideiice, and gain Irii underslanfJing ol the auran and Sunnah and help them fulfil their roles as children, as a rnernber of the eOmmLinity aiid most iinportanly as an indÈvidual. 3= Helps children preserve botli tlieir religious and ciiliural identity in order to become Inodel cit172ns and to work In partnership wth parents and the local authority lo share responsibilities in order to eclucate and teach tliem culiui'al valLies aiid 11)ainta(ii tli¢ii' identity. Page4of 12 HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 OCTO8ER2023 4.. To learn and r taking reasonable step5 foi the prevention and detectson of fraud and other irregularities Page5of12 VOLUNTEERS: The Trustees wish lo ￿Cord their appreciation on behalf of the Charity and ctstntnunity loi the volunteers who assist in the smooth running ol the Charity and are crilieal in helping to keeps the running cos15 down RISK REVIEW.. The Trustees hawe conducted Iheir own review of the major risks to which the Charity is exposed and Steps have been initiated to minimise the identified iisks. All functions of the Charity are subjecled to peri(xJic review resulting in a process ol ongoing improvetneni. All staff and volunleers are trained and have all the r8quired 51attslory and regulaiory clearances required. SERIOUS INCIDENTS AND EXCEPTIONS.. The Trustees are pleased tts note, that Iheie wore no incidents which gave risè lo Ihe need for the Truste&s to lodge a Serious Incident Report with the Charrty Commis510n. Furthermore. there were fio ExTrptions recorded and which gav8 rise to the need lor Ihe Trustees to record on the Chariiy's Exceptions, Reglster. RELATEO PARTY TRANSACTIONS.. During the year the Charity was under the control ol Trustees and bKanagemenl Committee membets as listed above. This report, which has been prepared in accordance the special provisions of Part 15 01 the Compantes Act 2006 applicable to small companies INOEPENDENT EXAMINER According to the provisions ol the Charities Act 1993, the Committee has agreed that and audit Is not required lor thi5 fin3ncial year. However due to provisions of the sarne act an Independent examiner is required and AM Accountancy Services appointed as external Accounianl or Independent Examiner. Transaction and Financial Positio The Slalement ol Financial Activities Shows nel surplus lor the year of £19.773 and our accumulated lunds stsnrj at £207,316 in total. AM Accountancy Services cartied out an independent examination of the accounts Included in the report This report. which has been prepared in accordance with the Slaternent ol Recommended Practre ISORPI Accounting and Reporting by Chanties issued in 2005. Approved by the trustees and signed on tts behalf by This report was approve(t e Exècutive ComnTriltee on and signed on their behalf. han Dr Mohammed Ka5hirn Bin Subhan (General Secretary) Dale". (Chair person) D3te'. Page6of 12 Accountants. Report To the Trustees of HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE FOR THE YEAR ENDED 31 OCTOBER 2023 We report on the account5 for the year ended 31 October 2023 set out on pages 8 to 12 whi¢h have been prepared under the historical c05t convention 8nd the accounting policies sel out in note 1 lo the finanaal statements. Respective Re$ponsÉbilitie$ 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 exempl from an audit. It is our responsibility to ¢arry out procedures designed to enabl¢ us to report our opinioii to you. B2sis of Opinion We conducled our work in a￿rdance with the Statement ol Standards f(>r Reporting Accountants. and so our procedures Gon5isled of comparing ihe accounts with the accounb.ng iecoids 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 procedu￿5 providè only the a55ur8nce expressed in our opinion. Opinion In our opinion.. lal The accounts are in agreement with the accounting records kept by the charity under the requirements of the Statement of Re¢otnrnended Praclice-Accounling and Reporting by Charth"es". Ibl Having r￿ard only lo. and on the basis ol, the information contained In thosè accounts.. 111 Th8 accounts have been drawn up In a manner consistent with the 8ccounty.ng reqU1￿MentS specified ihe Slateffl8nt of Recommended Praclice- Accounting and Reporting by Chari119s. and 121 The charity s8li5fied the conditions for the exemption from an audit of the aecounts for the year specifier5 in the Charitie5 Ad. 131 This unaudited Account we have prepared In accordan￿ with the figure. information and explanation we have received frotn the manag8ment of the current committee. AM ACCOUh I'klliCI' sriiiiiccs 4.3 JONSC)N IIQ)AD LONDON I-'14SA 1'LL.. 020 7790 6111 FAX.. O?0 7790 80)J AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E1 4SA Date. It/0 ?/LLt Pa9è7of12 HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE Statement of Financial Activities Ilncome & Expense Statementl FOR THE YEAR ENDED 31 OCTOBER 2023 2023 Total 2022 Total Notes Unrestricted Reslricled Incoming Resource5 JRS Grant Memebership fees LB TH Grant Parents Contribution Imadrasal All Other General Donations Donations Via Gift Aid & Ju51 Giving Rent81 Income 2.500 20.562 2,500 20.562 4,234 19.169 46.700 48,700 39.016 Totsl Incomin Resources 69.762 69.762 62.419 Re30u¥¢es Expended DiTect Charitable Expenditure Printing, postage, stationery & Advertlsemenl Telephone. lax and photocopies Rales and Water Light. Heal and Water Other Finance Charges Mortgage Intere51 Refreshments Cleaning Wages and Volunteer expenses Events and activities (Project Costs) 241 241 286 511 3,430 511 945 17.861 17,861 17,874 455 2.100 15.549 850 4.097 17.208 4,380 4,097 17,206 4,380 Direct charitable ex elldilur 44.582 44,582 41.870 Management & Adminlstratlon Expenses.. Accountancy Legal and Professional Staff Training Insurance Equipment hiie Travell Expense Oeprecialion Bank Charges airs ement & Administration Ex 1.300 75 1,300 75 1.300 10.756 3,740 796 300 360 3.372 5.407 300 360 3.372 5.407 170 1.748 18,510 Mana enses.. Total Resources Ex ended 49,989 49,989 60,380 Net Incomlng Resources I (resources expended) 19.773 19.773 2,039 Net Movement funds for the period: 19,773 19.773 2.039 Total Funds Brought forward 187.543 187.543 185,504 Balance at 31 October 2023 207.316 207,316 187.543 Page8of12 HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE Summary Income and Expenditure Account FOR THE YEAR ENDED 31 OCTOBER 2023 2023 Notes Income Total expendibjre Net Suiplus (Deficit) for the financial year 69,762 49,989 19.773 There were no recognised gains other ihan those induded in the Income and Expenditure Awount for current yeai. Page90112 HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE Statement of Assets & Llabilities l Balance Sheet) As at 31 October 2023 2023 2022 NOTE Flxed Assets Fixture. Fittings and Equipments Freehold Property 406,312 537,471 403.612 537 471 943,783 941,083 Current Assets Cash at Bank & In Hand 46,818 46.818 30130 30130 CurT8nt Liabilities Amount falling due to one year Accruals Qurze Hasana I Interest Free Loan) 1.600 157,816 159,416 1985 157,818 159,801 NET CURRENT ASSETS I ILIABILITIESI 112.598 -129.671 Arnounl falling due more than one year Mortga9e 623,869 -623,869 TOTAL ASSETS LESS CURRENT LIA8ILifiES 207.316 187.S43 FUNOS.. Brought Foward 187.543 185.504 ExcessllDelicitl ol inctsme over expendrture 19.773 2.039 Total Funds 207.316 187.543 The financial statetnent5 were approved by the Execub"ve Committ8e and signed on their behalf.. moharn￿e (Chair per50nl an Df Mohammed Ka5hirn 8in Subhan IGeneral Secretary) H3fiz Oliur Rahman Choudhury ITre85urerl Dale.. Date Date.. The Noles on pages 10 10 12 lonn part of the financial statements. Page 10 0112 HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE FOR THE YEAR ENDED 31 OCTOBER 2023 NOTES TO THE ACCOUNTS 1. ACCOUNTING POLICIES a. 8asls of Accountlng 88si5 of accounting The Financial Statements have been prepared under the historical ¢051 convention, as modified by the revaluation of certain fixed assets and investments measured at tnarkel value The Financial Staletnent5 have been prepared in accordance with the Finan￿al Reportin9 Standard lor Srnaller Entities leffective January 20151. and the reqU1￿Men1S of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Finan¢ial Reportillg Standard for Smaller Enlilies (effective January 20151 ISORP 20151. b. Giants Revenue grants are credited lo the Income and Expenditu￿ account on a re￿Ivable basis. c. DonatlOn5 Donation are recoided on a receipt ba515. d. Incoming ResoLtrc8S Voluntary income and donations are included In Incoming fesources when they are receivable. except when the donors specify that they musl be used in future accounting peiiods or donors. conditions have not been fuifi11ed, then the income is deferred. The Income from fundraising vèntuies is shown gross, with the as50Clated cost5 Included in fundraising costs. e. Resources Expended Resouice5 eKpended are included In th8 Statement of Financial Activities on acciuals basis. indvsive of any VAT that cannot be recovered. Expenditure that is direotly attributable 10 5pecif1c activities has been included in these cost cate9orie5. Where crysls are attributable to rnore than one activity. they have been apportioned arross the cost categones on a basis consistent with the use ol those resource5. f. Goin9 Concern 8astS The financial statements have been prepared on the going Con￿rn basis, as In the opinion of the trustees. there are no Issues arising which would suggest any other basi5 as being more appropriate. g. Admlnlstratlon Costs Administration expenditure includes all expenditure not directly related lo the charitable activity- h. Depreciatlon.. Depr8ciation is calculated so as to write off the cost ol an asset, less its ests"mated residual value. over the useful economic life of that asset a5 follows" Fixture. Fiiting and Equipment 10 Vo on Reducing Balance method Page11 of 12 HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE FOR THE YEAR ENDED 31 OCTOBER 2023 NOTES TO THE ACCOUNTS 2. FIXED ASSETS Fixiures, filliws & Improvements Buildin9 and Freehold Con$iiv¢ioi Properfy COST Totsl Al 01 November 2022 Balance Brought FoNJard Additions Ai 31 Octob81 2023 403,612 537.471 941.083 3,000 944,083 3.000 3.000 403.612 537.471 DEPRECIATION Al 01 Novembei 2022 ChaigÈ lor the year Al 31 October 2023 3th) 300 300 300 NET BOOK VALUE At 01 Novembei 2022 At 31 October 2023 403,612 403,612 537.471 537.471 941.083 943.783 2,700 Net Surplus of the Financial Year The excess of expenditure over incorne 15 stated after charging". 2023 Accountants, ramuneration Depreciation 1.300 300 C￿dItorS and Acrtsals Accouniancy 1,600 1.800 5 Qurze Hasana I Interest Free Loan) BalanGe BIF Piad during the y8ar New amount taken Balance CIF 157,816 157.816 Balance at 31 October 2022 187,543 Balance at 1 November 2022 187.543 Excessl (Defiatl of Incorne over Expenditure 19,773 Balance at 31 Oeiobèr 2023 207,318 Page 12 0112