Charity number: 1027642
Quranic Arabic Foundation
Report of the Trustees and Unaudited Financial Statements
For the year ended 31 December 2021
Quranic Arabic Foundation Contents Page For the year ended 31 December 2021
| Report of the Trustees | 1 |
|---|---|
| Independent Examiner's Report to the Trustees | 2 |
| Statement of Financial Activities | 3 |
| Statement of Financial Position | 4 |
| Notes to the Financial Statements | 5 to 8 |
Quranic Arabic Foundation Report of the Trustees
For the year ended 31 December 2021
The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 December 2021. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
REFERENCE AND ADMINISTRATIVE INFORMATION
Name of Charity Quranic Arabic Foundation Charity registration number 1027642 Principal address 552b Coventry Road Small Heath Birmingham B10 OUN
Trustees
The trustees and officers serving during the year and since the year end were as follows:
Dr Abdul Hafeez Dr Ahmed Suliman Moosa Dr Farhat Hafeez Dr Muhammed Ibrahim Surty Mr Asim Hafeez Mr Haroon Rashid Mr Masayood Khan Mr Salim Mahmood Moolla Mr Tariq Surty Prof Aftab Ahmed Gharda Independent examiners Mibsons Limited 180 Birmingham Road West Bromwich West Midlands B70 6QG
Approved by the Board of Trustees and signed on its behalf by
Tariq Surty (Oct 31, 2022 14:13 GMT) ............................................................................. Mr Tariq Surty
Oct 31, 2022
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Quranic Arabic Foundation Independent Examiners Report to the Trustees For the year ended 31 December 2021
I report to the trustees on my examination of the accounts of the charity for the year ended 31 December 2021.
Responsibilities and basis of report
As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiners statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Muhammad Shahid
FCCA Mibsons Limited 180 Birmingham Road West Bromwich West Midlands B70 6QG
Oct 31, 2022
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Quranic Arabic Foundation Statement of Financial Activities For the year ended 31 December 2021
| Notes | Unrestricted | 2020 | |
|---|---|---|---|
| funds | |||
| £ | £ | ||
| Income and endowments from: | |||
| Donations and legacies | 2 | 33,374 | 45,157 |
| Charitable activities | 3 | 1,543 | 4,148 |
| Investments | 4 | 905 | 1,010 |
| Total | 35,822 | 50,315 | |
| Expenditure on: | |||
| Charitable activities | 5 | (26,695) | (26,232) |
| Total | (26,695) | (26,232) | |
| Net income | 9,127 | 24,083 | |
| Reconciliation of funds | |||
| Total funds brought forward | 553,276 | 529,193 | |
| Total funds carried forward | 562,403 | 553,276 |
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Quranic Arabic Foundation Statement of Financial Position As at 31 December 2021
| Notes | 2021 | 2020 | |
|---|---|---|---|
| £ | £ | ||
| Fixed assets | |||
| Tangible assets | 9 | 362,745 | 370,666 |
| 362,745 | 370,666 | ||
| Current assets | |||
| Stocks | 10 | 18,990 | 19,280 |
| Debtors | 11 | 479 | 3,632 |
| Cash at bank and in hand | 181,619 | 160,348 | |
| 201,088 | 183,260 | ||
| Creditors: amounts falling due within one year | 12 | (1,430) | (650) |
| Net current assets | 199,658 | 182,610 | |
| Total assets less current liabilities | 562,403 | 553,276 | |
| Net assets | 562,403 | 553,276 | |
| The funds of the charity | |||
| Unrestricted income funds | 562,403 | 553,276 | |
| Total funds | 562,403 | 553,276 |
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
Tariq Surty (Oct 31, 2022 14:13 GMT) Mr Tariq Surty Trustee
Oct 31, 2022
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Quranic Arabic Foundation Notes to the Financial Statements For the year ended 31 December 2021
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.
Quranic Arabic Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
2. Income from donations and legacies
| Unrestricted funds Donations received Grants received ncome from charitable activities Unrestricted funds Educational activities Income from charitable activities nvestment income Unrestricted funds Other investment income |
2021 £ 33,374 - 33,374 2021 £ 1,543 2021 £ 905 905 |
2020 £ 35,157 10,000 |
|---|---|---|
| 45,157 | ||
| 2020 £ 4,148 2020 £ 1,010 |
||
| 1,010 |
3. Income from charitable activities
4. Investment income
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Quranic Arabic Foundation Notes to the Financial Statements Continued For the year ended 31 December 2021
5. Costs of charitable activities by fund type
| Unrestricted funds Educational activities Support costs 6. Analysis of support costs Educational activities Admin & Management Governance costs 7. Net income/(expenditure) for the year This is stated after charging/(crediting): Depreciation of owned fixed assets Accountancy fees |
2021 £ 290 26,405 26,695 2021 £ 25,755 650 26,405 2021 £ 7,921 650 |
2020 £ 1,180 25,052 |
|---|---|---|
| 26,232 | ||
| 2020 £ 24,402 650 |
||
| 25,052 | ||
| 2020 £ 7,921 650 |
8. Comparative for the Statement of Financial Activities
The comparative year values on the Statement of Financial Activites are for unrestricted funds.
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Quranic Arabic Foundation Notes to the Financial Statements Continued For the year ended 31 December 2021
9. Tangible fixed assets
| Cost or valuation At 01 January 2021 At 31 December 2021 Depreciation At 01 January 2021 Charge for year At 31 December 2021 Net book values At 31 December 2021 At 31 December 2020 10. Stocks and work in progress Stock 11. Debtors Amounts due within one year: Trade debtors Other debtors 12. Creditors: amounts falling due within one year Trade creditors Accruals and deferred income |
Land and Buildings £ 392,458 392,458 22,079 7,849 29,928 362,530 370,379 |
Fixtures and Fittings £ 10,621 10,621 10,621 - 10,621 - - |
Computer Equipment £ 16,691 16,691 16,404 72 16,476 215 287 2021 £ 18,990 18,990 2021 £ - 479 479 2021 £ 780 650 1,430 |
Total £ 419,770 |
|---|---|---|---|---|
| 419,770 | ||||
| 49,104 7,921 |
||||
| 57,025 | ||||
| 362,745 | ||||
| 370,666 | ||||
| 2020 £ 19,280 |
||||
| 19,280 | ||||
| 2020 £ 244 3,388 |
||||
| 3,632 | ||||
| 2020 £ - 650 |
||||
| 650 |
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Quranic Arabic Foundation Notes to the Financial Statements Continued For the year ended 31 December 2021
14. Analysis of net assets between funds
| Unrestricted funds General General Previous year Unrestricted funds General General |
Tangible fixed assets Net current assets / (liabilities) Net Assets £ £ £ 362,745 199,658 562,403 |
|---|---|
| 362,745 199,658 562,403 |
|
| Tangible fixed assets Net current assets / (liabilities) Net Assets £ £ £ 370,666 182,610 553,276 |
|
| 370,666 182,610 553,276 |
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