REGISTERED CHARITY NUMBER: 1050383
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2020
for
AL ASR Scholastic Research Establishment
Preston Accountants Limited Chartered Certified Accountants
1 Carlton Parade Preston Road Wembley Middlesex HA9 8NE
AL ASR Scholastic Research Establishment
Contents of the Financial Statements for the Year Ended 31 December 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | ||
| Notes to the Financial Statements | 6 | to | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |
AL ASR Scholastic Research Establishment
for the Year Ended 31 December 2020
Report of the Trustees
The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. 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 Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Charity raises funds to be used for various good causes, including for the blind, elderly, sick and underprivileged people in all parts of the world where there is a great need for resources and financial support.
The Charity also holds special events throughout the year to help raise funds for these good causes.
Public benefit
The Charity help raise funds for medicines, child education, food for the homeless and hospital equipments, to name but a few good causes, for people living in areas where there is a great need for resources and financial support.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Charity continues to attract an increasing number of followers each year. This year was no exception, with many devotees taking part in special events to raise funds for existing and new charitable causes.
The Charity helps to raise funds for child education, food for the homeless and hospital equipment, to name but a few good causes, for people living in areas where there is a great need for resources and financial support.
FINANCIAL REVIEW
Financial position
The charity regularly hold meetings to discuss the accounts, new and existing donation requests and to discuss future fund raising events. The charity has worked hard this year in raising funds and the costs have been well managed over this period.
Reserves policy
It is the policy of the Charity to maintain unrestricted funds so that it can offer a faster response to new and existing charitable causes, with a minimum reserve for organising and setup costs. Special events are organised throughout the year to raise funds for new and existing causes.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
The existing trustees are responsible for the recruitment of new trustees but in so doing the trustees seek the views and recommendations of both elders and community leaders. The trustees believe this approach ensures that new trustees are respected members of the faith and local communities and ensures that good relations are fostered between the Charity and the people of the local community that we serve.
In selecting new trustees, we seek to identify people who regularly attend events and functions organised by the charity and are willing to volunteer to help in our broader community work. Potential trustees are invited to attend trustees' meetings as observers and are given more details of the charity's aims and activities and, if all agree, they are then proposed as new trustees at the subsequent trustees' meeting. This process allows due consideration of the person's eligibility, personal competence, specialist knowledge and skills.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees have made no risk related investments. A formal review is undertaken regularly to ensure that all surplus funds are invested in bank and building society accounts at best rates of interest.
Page 1
AL ASR Scholastic Research Establishment
for the Year Ended 31 December 2020
Report of the Trustees
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1050383
Principal address
152 Norman Crescent Hounslow TW5 9JW
Trustees
The Trustees are as follows:
-
Mr. S. M.S. Sabzwary
-
Dr. Sabera Karmani
-
Mrs. Siddika Dhalla
-
Mr. Mohammad Iqbal Shah
-
Mr. Mohammad Iqbal Davdani
-
Mr. Mushtaq Hussain Shah
-
Mr. Zahoor Abbas Shah
Independent Examiner
Murtaza Visram Association of Chartered Certified Accountants (FCCA) Preston Accountants Limited Chartered Certified Accountants 1 Carlton Parade Preston Road Wembley Middlesex HA9 8NE
Approved by order of the board of trustees on 29 October 2021 and signed on its behalf by:
S Sabzwary - Trustee
Page 2
Independent Examiner's Report to the Trustees of AL ASR Scholastic Research Establishment
Independent examiner's report to the trustees of AL ASR Scholastic Research Establishment
I report to the charity trustees on my examination of the accounts of AL ASR Scholastic Research Establishment (the Trust) for the year ended 31 December 2020.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material 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 Trust as required by section 130 of the Act; or
-
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.
Murtaza Visram Association of Chartered Certified Accountants (FCCA) Preston Accountants Limited Chartered Certified Accountants 1 Carlton Parade Preston Road Wembley Middlesex HA9 8NE
29 October 2021
Page 3
AL ASR Scholastic Research Establishment
Statement of Financial Activities
for the Year Ended 31 December 2020
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Various donors 74,976 Investment income 2 181 Other income 35,810 Total 110,967 EXPENDITURE ON Charitable activities Governance costs 5,269 Various donors 19,774 Raising funds 3,083 Support Cost 10,530 Staff cost 18,872 Premises cost 21,283 Total 78,811 NET INCOME 32,156 RECONCILIATION OF FUNDS Total funds brought forward 895,179 TOTAL FUNDS CARRIED FORWARD 927,335 |
Restricted fund £ - - - - - - - - - - - - - - |
31.12.20 31.12.19 Total Total funds funds £ £ 74,976 202,012 181 397 35,810 25,780 110,967 228,189 5,269 1,368 19,774 156,851 3,083 13,540 10,530 8,996 18,872 12,850 21,283 22,255 78,811 215,860 32,156 12,329 895,179 882,850 927,335 895,179 |
31.12.20 31.12.19 Total Total funds funds £ £ 74,976 202,012 181 397 35,810 25,780 110,967 228,189 5,269 1,368 19,774 156,851 3,083 13,540 10,530 8,996 18,872 12,850 21,283 22,255 78,811 215,860 32,156 12,329 895,179 882,850 927,335 895,179 |
|---|---|---|---|
| 228,189 1,368 156,851 13,540 8,996 12,850 22,255 |
|||
| 215,860 | |||
| 12,329 882,850 |
|||
| 895,179 |
The notes form part of these financial statements
Page 4
AL ASR Scholastic Research Establishment
Statement of Financial Position
31 December 2020
| Notes FIXED ASSETS Tangible assets 6 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 8 NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
Unrestricted fund £ 851,377 261,313 (1,587) 259,726 1,111,103 (183,768) 927,335 |
Restricted fund £ - - - - - - - |
31.12.20 Total funds £ 851,377 261,313 (1,587) 259,726 1,111,103 (183,768) 927,335 927,335 927,335 |
31.12.19 Total funds £ 844,851 250,176 (1,963) 248,213 1,093,064 (197,885) 895,179 895,179 895,179 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 29 October 2021 and were signed on its behalf by:
S Sabzwary - Trustee
The notes form part of these financial statements
Page 5
AL ASR Scholastic Research Establishment
Notes to the Financial Statements for the Year Ended 31 December 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared 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' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% Straight line on cost Long leasehold - 2% Straight line on cost Fixtures and fittings - 25% on reducing balance Motor vehicles - 20% on reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Page 6
continued...
AL ASR Scholastic Research Establishment
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
1. ACCOUNTING POLICIES - continued
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| Deposit account interest | 181 | 397 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
5.
| 31.12.20 | 31.12.19 | ||
|---|---|---|---|
| Employees | 3 | 3 | |
| No employees received emoluments in excess of £60,000. | |||
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL | ACTIVITIES | ||
| Unrestricted | Restricted | Total | |
| fund | fund | funds | |
| £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Charitable activities | |||
| Various donors | 202,012 | - | 202,012 |
| Investment income | 397 | - | 397 |
| Other income | 25,780 | - | 25,780 |
| Total | 228,189 | - | 228,189 |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Governance costs | 1,368 | - | 1,368 |
| Various donors | 156,851 | - | 156,851 |
| Raising funds | 13,540 | - | 13,540 |
| Support Cost | 8,996 | - | 8,996 |
| Staff cost | 12,850 | - | 12,850 |
| Premises cost | 22,255 | - | 22,255 |
| Total | 215,860 | - | 215,860 |
continued...
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AL ASR Scholastic Research Establishment
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
| 5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted fund fund £ £ NET INCOME 12,329 - RECONCILIATION OF FUNDS Total funds brought forward 882,850 - TOTAL FUNDS CARRIED FORWARD 895,179 - 6. TANGIBLE FIXED ASSETS Fixtures Freehold Long and Motor property leasehold fittings vehicles £ £ £ £ COST At 1 January 2020 645,880 205,826 35,742 15,000 Additions 25,799 - - - At 31 December 2020 671,679 205,826 35,742 15,000 DEPRECIATION At 1 January 2020 12,918 4,117 31,706 8,856 Charge for year 12,918 4,117 1,009 1,229 At 31 December 2020 25,836 8,234 32,715 10,085 NET BOOK VALUE At 31 December 2020 645,843 197,592 3,027 4,915 At 31 December 2019 632,962 201,709 4,036 6,144 |
Total funds £ 12,329 882,850 895,179 Totals £ 902,448 25,799 928,247 57,597 19,273 76,870 851,377 844,851 |
Total funds £ 12,329 882,850 |
|---|---|---|
| 895,179 |
Included in the net carrying amount of freehold and leasehold properties is £843,435 (2019: £834,671) pledged as security against the charity’s bank loans.
continued...
Page 8
AL ASR Scholastic Research Establishment
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
| 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.20 £ Taxation and social security 1,587 Other creditors - 1,587 8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.12.20 £ Bank loans (see note 9) 183,768 9. LOANS An analysis of the maturity of loans is given below: 31.12.20 £ Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal 183,768 10. SECURED DEBTS The following secured debts are included within creditors: 31.12.20 £ 22 Portugal Road 107,229 118 Goldsworth Road 76,539 183,768 11. MOVEMENT IN FUNDS Net movement At 1.1.20 in funds £ £ Unrestricted funds General fund 895,179 32,156 TOTAL FUNDS 895,179 32,156 |
31.12.19 £ 1,457 506 1,963 31.12.19 £ 197,885 |
|---|---|
| 31.12.19 £ 197,885 31.12.19 £ 115,466 82,418 |
|
| 197,884 | |
| At 31.12.20 £ 927,335 |
|
| 927,335 |
continued...
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AL ASR Scholastic Research Establishment
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
11. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 110,967 110,967 |
Resources Movement expended in funds £ £ (78,811) 32,156 (78,811) 32,156 |
Resources Movement expended in funds £ £ (78,811) 32,156 (78,811) 32,156 |
|---|---|---|---|
| 32,156 |
Comparatives for movement in funds
| At 1.1.19 £ Unrestricted funds General fund 882,850 TOTAL FUNDS 882,850 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 228,189 TOTAL FUNDS 228,189 |
Net movement At in funds 31.12.19 £ £ 12,329 895,179 12,329 895,179 Resources Movement expended in funds £ £ (215,860) 12,329 (215,860) 12,329 |
At 31.12.19 £ 895,179 |
|---|---|---|
| 895,179 | ||
| 12,329 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.19 £ 882,850 882,850 |
Net movement in funds £ 44,485 44,485 |
At 31.12.20 £ 927,335 |
|---|---|---|---|
| 927,335 |
continued...
Page 10
AL ASR Scholastic Research Establishment
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 339,156 339,156 |
Resources Movement expended in funds £ £ (294,671) 44,485 (294,671) 44,485 |
Resources Movement expended in funds £ £ (294,671) 44,485 (294,671) 44,485 |
|---|---|---|---|
| 44,485 |
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2020.
13. FUNDS STRUCTURE
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.
The following specific policies are applied to particular categories of income:
Voluntary income is received by way of donations is recognised on receipt or accrued as income as soon as practical and prudent to do so.
Income from charitable activities include fees receivable from donors and is credited in the same year as the relevant income.
All expenditure is accounted for on an accrual basis and is reported as part of the expenditure to which it relates: Costs of generating funds comprise the costs associated with attracting voluntary income.
Charitable activities include all costs that are allocated between expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to particular activities are allocated directly, others on an estimated usage basis.
14. INDEPENDENT EXAMINER'S REMUNERATION
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Examination of the financial statements | 1344 | 1344 |
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AL ASR Scholastic Research Establishment
Detailed Statement of Financial Activities for the Year Ended 31 December 2020
| Detailed Statement of Financial Activities for the Year Ended 31 December 2020 |
||
|---|---|---|
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Investment income | ||
| Deposit account interest | 181 | 397 |
| Charitable activities | ||
| Donations | 27,520 | 49,471 |
| Educational Trip | - | 42,978 |
| Donations for Najaf project | 47,456 | 109,563 |
| 74,976 | 202,012 | |
| Other income | ||
| Rental Income | 25,934 | 25,780 |
| Government Grant | 9,876 | - |
| 35,810 | 25,780 | |
| Total incoming resources | 110,967 | 228,189 |
| EXPENDITURE | ||
| Charitable activities | ||
| Najaf project expenses | - | 109,062 |
| Educational trips expenses | 155 | 47,524 |
| Events Costs | 3,083 | 12,810 |
| Donations | 19,424 | - |
| 22,662 | 169,396 | |
| Support costs | ||
| Management | ||
| Sundries | 195 | 265 |
| Legal & Professional Fees | 2,498 | - |
| Bank loan interest | 4,000 | 3,122 |
| 6,693 | 3,387 | |
| Finance | ||
| Bank charges | 330 | 465 |
| Information technology | ||
| Repairs and renewals | 240 | - |
| Human resources | ||
| Lecturing Costs | 840 | 700 |
| Other | ||
| Wages | 18,790 | 12,774 |
| Carried forward | 18,790 | 12,774 |
This page does not form part of the statutory financial statements
Page 12
AL ASR Scholastic Research Establishment
Detailed Statement of Financial Activities for the Year Ended 31 December 2020
| Detailed Statement of Financial Activities for the Year Ended 31 December 2020 |
||
|---|---|---|
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| Other | ||
| Brought forward | 18,790 | 12,774 |
| Pensions | 82 | 76 |
| Rent, Rates and Insurance | 1,655 | 1,770 |
| Light and heat | 2,353 | 3,450 |
| Telephone | 3,042 | 1,668 |
| Postage and stationery | - | 120 |
| Cleaning | 80 | 160 |
| Freehold property | 12,918 | 12,918 |
| Long leasehold | 4,117 | 4,117 |
| Fixtures and fittings | 1,009 | 1,345 |
| Motor vehicles | 1,229 | 1,536 |
| 45,275 | 39,934 | |
| Other 3 | ||
| Payroll and Book Keeping Fees | 1,387 | 24 |
| Governance costs | ||
| Accountancy Fees | 1,384 | 1,344 |
| Website Costs | - | 610 |
| 1,384 | 1,954 | |
| Total resources expended | 78,811 | 215,860 |
| Net income | 32,156 | 12,329 |
This page does not form part of the statutory financial statements
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