HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE Charity Registration Number: 1017772 Company Registration Number ". 02790595 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 REPORTING ACCOUNTANTS: AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E14SA TEL. 020 7790 6111 Page 1 of 12
HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE FOR THE YEAR ENDED 31 OCTOBER 2024 CONTENTS Pages Information of financial Statements Report of the Executive Committee Statement of responsibilities of the Commillee.. Independent Examiner's Report Income and Expenditure Accounts Statement of Assets and Liabilities 10 Notes lo the Accounts 11-12. Page2of 12
HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE FOR THE YEAR ENDED 31 OCTOBER 2024 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.. 020 7790 6111 Chari 's Trustees: Mohammed Abdus Subhan Faleha Subhan Begum Momtaz Begum Dr Mohammed Kashim Bin Subhan Hafiz Oliur Rahman Choudhury Page 3 of 12
HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 OCTOBER 2024 The trustees present their report and financial statements for the year ended 31 October 2024. Tlie Trustees hlÉ ve adopted tlTre provisions of Ilie Stateinent of Recominended Pi-actice {SORP) Accounting and Repoi'tiiig by Charities issued iii 2005 in pi'epariiig tlie annual report and fiiiancial stateiiieiits of tlie Charity. Legal Statiis: Company: Limited by guarantee, coinpany number: 02790595 Chai"Éty: Registered with tlie Chai'ity Commission, Charity Niiinber: 1017772 Objects, Principal Activities and Organisation of the Charity The Charity is coiistituted as a company limited by guarantee, and is tlierefore govei-ned by a Inemoranduin and articles of association. AND The Chai-ity's objects are for tlie benefit of the inliabitants of London Boi-ough of Tower Hainlets, and in particular meinbers of the Musliin Minority Ethnic Coininunities but exclusively who are in liardship by= To advance the Islainic faitli for the beiiefits ot- tlie public in Tower Hainlets in particiilar but not exclusively by tlie provision of a Mosque and EdLication and Edlication and cullural centre HifzLII QLiian and Islamic Educatioii Centre helps families l iving in Tower Hamlets, from a wide range of backgrouiid5, especially Iliose on low income or tacingJ othei- forins of cultural or social d isadvaiitage to becoine iiidependent, and to access services whicli can help them to develop skills, with a great iniportaiice 011 supporting the needs of Baiigladeslii families and promoting social cohesion witliin the wider community. 2- Advances the Islamic faitli and advance education of the general public in London by; (i) Establishing clas5e5 that supports cliildreii to help theinselves to develop confideiice, and gain true understanding of the Quran and Sunnah and help them fulfil their roles as children. as a member of the commiiiiity and Inost importanly as an individual. 3: Helps children preseiwe both their religious and cultural identity in order to beconie model citizens and to work in partnership with parents and the local authority to share responsibilities in order to educate and teach tliem cultLiral values aiid maintain tlieir ideiitity. Page 4 of 12
HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 OCTOBER 2024 4: To learn and adopt good Inanners to excel by preveiiting yOLing cliildreii from neg<ltive intliience and encourage them to locus on their education and making a difference in the communilylsociety. Providing the provision of places of woi'sliip. raisino aivarness aiid Liiiderslanding of relj(yious beliefs aiid practices. carryiiig OLII religioLlS devotional acts. carrying out missionary aiid outreach woi'k. Organisation: A Management Committee, the members ofwhich 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 nol have aiiy shares in tlie company. the company being limited by guarantee. There was a chan&ye in tlie directorship of the cotnpaiiy diiriiig the year under coiisideration Trustees: Trustees, wlio are all members of the executive COlnlTLitlee. aiid who served dLiring the year are set out oli page 3. The trustees arc elected at tlie Annual General Meeliiig, for membership of tlie Executive Committee and serve until tlie end of tlie next AniiLial Geiieral Meeting. where they cali stand for re- electioii as members of the new Executive Coinmillce. Dircctors, / Trustees responsibilitÉes in relation to the fAnancial statements The directors are rcqLiired by company law to prepare finaiicial statemeiits for each financial year wliich give a true and fair view of the financial activitie5 of the cliarity and of its finaiicial positioii al the end of that year. In preparing tliose financial statemcnts the directors are required to.. The Trustees are responsible for preparing the Trustees Annual Report and the Financial Statements in accordance with applicable law and regulations and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice}. The law applicable to charities in England and Wales requires the Trustees to prepare Financial Stalemer)ts for each financial year which give a true and lair view of the slate of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these Financial Statements, the Trustees are required to.. Select suitable accounting policies and then apply them consistently., Observe the methods and principles in e 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 l 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 ol fraud and other irregularities Page5of 12
VOLUNTEERS: The Trustees wish lo record their appreciation on behalf of the Charity and community for the volunteers who assist in the srnoolh Tunning of the Charity and are critical in helping lo keeps the running costs down RISK REVIEW: The Trustees have conducted their own review of the major risks to which the Charity is exposed and steps have been initiated lo minimise Ihe identified risks. All functions of the Charity are subjected lo periodic review resulting in a process of ongoing improvement. All staff and volunteers are trained and have all the required statutory and regulatory dearances 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 lo lodge a Serious Incident Report with the Charity Commission. Furthermore, there were no Excepts'ons recorded and which gave rise lo the need for the Trustees to record on the Charity's Exptions. Register. RELATED PARTY TRANSACTIONS". During the year the Charity was under Ihe control of Trustees and Managemenl Committee members as listed above. 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 lo 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 surplus for the year of £25.609 and our accumulated funds sland at £232.925 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 ISORPI A¢countin9 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. ammed Abdus Su {Chair person) Dale.. Dr Mohammed Kashim Bin Subhan (General Secretary} Dale- Page6of 12
Accountants, Report To the Trustees of HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE FOR THE YEAR ENDED 31 OCTOBER 2024 We report on the accounts for the year ended 31 October 2024 set out on pages 8 10 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 staternents, and they consider that tlie trust is exempt from ali 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 Teport. These procedures provide only the assurance 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 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 Charib"es, and {2) The charity satlsfied the conditions for the exemption from an audit of the accounts for the year specified in the Charities Act. 131 This unaudited Account we have prepared in accordance with the figure, information and explanation we have received from the management of the current committee. &5 AM ACCOUNTANCY S 43 BEN JONSON ROAD LONDON E14SA RVICES AM ACCC)UN'I'ANCY .SIRVICES 43 BEN JONSON IIOAD LONDON EI 4SA TEI.. 0)0 77906111 FAX.- O?0 7790 8033 Date- Page7 of12
HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE Statement of Financial Activities (Income & Expense Statement) FOR THE YEAR ENDED 31 OCTOBER 2024 2024 Total 2023 Total Notes Unrestricted Restricted Incoming Resources JRS Grant Memebership fees LBTH Grant Parents Contribution (Madrasal All Other General Donations Donab'ons Via Gift Aid & Just Giving Rental Income 2,900 29,447 2,900 29,447 2,500 20.582 47.674 47,674 46.700 Total Incomln Resources 80.021 80,021 69.782 Resources Expended Dlrect Charitable Expenditure Printing. postage. stationery & Advertisement Telephone, fax and photocopies Rates and Water Light. Heat and Water Other Finance Charges Mortgage Interest Refreshment5 Cleaning Wages and Volunteer expenses Events and activities (Project Costs) 241 286 511 588 390 588 390 17.836 17,836 17,881 4.669 21.027 4.486 4.669 21,027 4.486 4,097 17.206 4,380 Direct charitable ex endilure 48,996 48,996 44.582 Management & Admtnistration Expenses: Accountancy Legal and Professional Staff Training Insuran Equipment hire Travel Expense Depreciation Bank Charges Re airs ement & Administration Ex 1,300 528 1.300 528 1,300 75 200 270 195 2,923 5.417 200 270 195 2.923 5,417 300 360 3,372 5,407 Mana enses.. Total Resources Ex ended 54.412 54.412 49,989 Net Incoming Resources I {resour¢es expended) 25,609 25.609 19,773 Net Movement funds for the period: 25,609 25,609 19,773 Total Funds Broughtforward 207,316 207,316 187.543 Balance at 31 October 2024 232,925 232,925 207,316 Page8of12
HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE Summary Income and Expenditure Account FOR THE YEAR ENDED 31 OCTOBER 2024 2024 Notes Income Total expenditure Net Surplus (Deficill for the financial year 80,021 54,412 25.609 There were no recognised gains other than those included in the Income and Expenditure Account for current year. Page9of 12
HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE Statement of Assets & Liabilities { Balance Sheet) As at 31 October 2024 2024 2023 NOTE Fixed Assets Fixture, Fittings and Equipments Freehold Propety 470.042 537,471 406,312 537,471 1,007,513 943,783 Current Assets Cash at Bank & in Hand 29,197 29.197 46.818 46,818 Currenl Liabillties Amount falling due to one year Accruals Qurze Hasana I Interest Free Loan) 2.100 177,816 179,916 1600 157,816 159,416 NET CURRENT ASSETS I (LIABILITIES) 150,719 -112.598 Amount falling due more than one year Mortgage 623,869 -623.869 TOTAL ASSETS LESS CURRENT LIABILITIES 232,925 207.316 FUNDS: Brought Forward 207,316 187.543 ExcessllDeficitl of income over expenditure 25,609 19,773 Total Funds 232.925 207,316 The financial statements were approved by the Executive Committee and signed on their behalf.. Dr Mohammed Kashim Bin Subhan (General Secretary) Hafiz Oliur Rahman Choudhury (Treasurer) (Chair person} Dale.. 14 Dale.. Date: The Notes on pages 10 to 12 form part of the financial statements. Page 10 of 12
HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE FOR THE YEAR ENDED 31 OCTOBER 2024 NOTES TO THE ACCOUNTS 1. ACCOUNTING POLICIES a. Basis ofAccounting 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 al market value. The Financial Statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entib'es leffeclive January 20151, 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 {effeclive January 20151 ISORP 20151- b. Grants Revenue grants are credited lo the Income and Expenditure account on a receivable basis. 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 assoaated costs included in fundraising costs. e. Resources Expended Resources expended are included in the Statement of Financial Activitie5 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 Iinancial statements have been prepared on the going cOnrn 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 lo the charitable activity. h. Depre¢iation- 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 0/0 on Reducing Balance method Pa9e11 of12
HIFZUL QURAN AND ISLAMIC EDUCATION CENTRE FOR THE YEAR ENDED 31 OCTOBER 2024 NOTES TO THE ACCOUNTS 2. FIXED ASSETS COST Fixluies, fillings & ImproverDenls Build1ng and Freehold Conslruclitsn Property Total Al 01 November 2023 Balance Brought FonNard Additions Al 31 October 2024 2,700 467,612 537,471 1.007,783 2.700 467,612 537,471 1,007.783 DEPRECIATION Al 01 November 2023 Charge for the yeai Al 31 October 2024 270 270 270 270 NET BOOK VALUE Al 01 November 2023 Al 31 Oelober 2024 2,700 2,430 467.612 467,612 537,471 537.471 1,007,783 1.007,513 Net Surplus of the Financial Year The excess of expenditure over income is slated after charging.. 2024 Affountants, remuneration Depreciation 1.300 270 Creditors and Acruals Accountancy 2,100 2.100 5 Qurze Hasana { Interest Free Loan) Balance BIF Paid during the year New amount taken Balan CIF 157,816 20,000 177,816 Balance at 31 October 2023 207.316 Balance al 1 November 2023 207,316 Excessl {Deficitl of Income over Expenditure 25.609 Balance at 31 October 2024 232,925 Page 12of12