Charity number: 1027642
Quranic Arabic Foundation
Report of the Trustees and Unaudited Financial Statements
For the year ended 31 December 2023
Quranic Arabic Foundation Contents Page For the year ended 31 December 2023
| 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 |
| Detailed Statement of Financial Activities | 9 |
Quranic Arabic Foundation Report of the Trustees For the year ended 31 December 2023
The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 December 2023. 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 |
| ….................................................. | 31-Oct-24 |
| Mr Tariq Surty |
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Quranic Arabic Foundation Independent Examiners Report to the Trustees For the year ended 31 December 2023
I report to the trustees on my examination of the accounts of the charity for the year ended 31 December 2023.
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) ofthe 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
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the accounts do not accord with those records; or
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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.
…........................................................................
Amanah Accountants Ltd (Practising Member of ACCA) 56 Green Lane
Small Heath Birmingham B9 5DB
31-Oct-24
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Quranic Arabic Foundation Statement of Financial Activities For the year ended 31 December 2023
| Notes Income and endowments from: Donations and legacies 2 Charitable activities 3 Investments 4 Total Expenditure on: Charitable activities 5 Total Net income Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ 22229 2030 1736 25995 (28,747) (28,747) (2,752) 590,996 588,244 |
2022 £ 54843 680 1264 56787 (28,194) (28,194) 28,593 562403 590,996 |
|---|---|---|
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Quranic Arabic Foundation Statement of Financial Position As at 31 December 2023
| Notes Fixed assets Tangible assets 8 Current assets Stocks 9 Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total assets less current liabilities Net assets The funds of the charity Unrestricted income funds Total funds |
2023 £ 346928 346928 22193 279 219144 241616 (300) 241,316 588,244 588,244 588,244 588,244 |
2022 £ 354825 354825 23109 279 213533 236921 (750) 236,171 590,996 590,996 590,996 590,996 |
|---|---|---|
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
…............................................................................
Mr Tariq Surty Trustee 31-Oct-24
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Quranic Arabic Foundation Notes to the Financial Statements For the year ended 31 December 2023
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 Gifts in kind 3. Income from charitable activities Unrestricted funds Educational activities Books and material sales 4. Investment income Unrestricted funds Other investment income |
2023 £ 22229 - 22229 2023 £ 2030 2023 £ 1736 1736 |
2022 £ 34236 20607 54843 2022 £ 680 2022 £ 1264 1264 |
|---|---|---|
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Quranic Arabic Foundation Notes to the Financial Statements Continued For the year ended 31 December 2023
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 |
2023 £ 28747 28747 2023 £ 28,447 300 28747 2023 £ 7897 300 |
2022 £ 150 28044 28194 2022 £ 27294 750 28044 2022 £ 7921 750 |
|---|---|---|
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Quranic Arabic Foundation Notes to the Financial Statements Continued For the year ended 31 December 2023
8. Tangible fixed assets
| Land and Cost or valuation Buildings £ At 01 January 2023 392458 At 31 December 2023 392458 Depreciation At 01 January 2023 37777 Charge for year 7849 At 31 December 2023 45626 Net book values At 31 December 2023 346832 At 31 December 2022 354681 9. Stocks and work in progress Stocks of raw materials 10. Debtors Amounts due within one year: Other debtors 11. Creditors: amounts falling due within one year Trade creditors Accruals and deferred income |
Fixtures and Computer Fittings Equipment £ £ 10621 16691 10621 16691 10621 16547 - 48 10621 16595 - 96 - 144 2023 £ 22193 22193 2023 £ 279 279 2023 £ - 300 300 |
Total £ 419770 419770 64945 7897 72842 346928 354825 2022 £ 23109 23109 2022 £ 279 279 2022 £ - 750 750 |
|---|---|---|
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Quranic Arabic Foundation Notes to the Financial Statements Continued For the year ended 31 December 2023
13. Analysis of net assets between funds
| 13. Analysis of net assets between funds | |||
|---|---|---|---|
| Tangible | Net current | Net Assets | |
| fixed assets | assets / | ||
| (liabilities) | |||
| £ | £ | £ | |
| Unrestricted funds | |||
| General | |||
| General | 346928 | 241,316 | 588,244 |
| 346928 | 241,316 | 588,244 | |
| Previous year | Tangible | Net current | Net Assets |
| fixed assets | assets / | ||
| Unrestricted funds | £ | (liabilities) £ |
£ |
| General | |||
| General | 354825 | 236,171 | 590,996 |
| 354825 | 236,171 | 590,996 | |
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Quranic Arabic Foundation Detailed Statement of Financial Activities For the year ended 31 December 2023
| INCOME AND ENDOWMENT Donations and legacies Donations Gifts In Kind Charitable activities Books And Material Sales Investments Profit On Investments With Al Rayan Bank Total incoming resources EXPENDITURE Charitable activities Books And Materials SUPPORT COSTS Admin & Management Depreciation - Owned Assets Insurance Expense Telephone & Internet Water Charges Payment Processing Charges Light & Heat Computer & It Exp Postage & Stamps Stationery Professional Service Charges Bank Charges Repairs & Maintenance Advertisement Governance costs Accountancy Fees Total resources expended Net Income |
2023 £ 22229 - 22229 2030 2030 1736 1736 25995 0 (7,897) (2,409) (487) (785) (85) (5,233) (230) (551) (5) (7,820) (206) (2,465) (274) (28,447) (300) (300) (28,747) (2,752) |
2022 £ 34236 20607 54843 680 680 1264 1264 56787 (150) (150) (7,921) (2,166) (352) (705) (321) (1,663) (300) (2,036) (458) (10,365) (264) (743) - (27,294) (750) (750) (28,194) 28,593 |
|---|---|---|
This page does not form part of the statutory financial statements
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