REGISTERED CHARITY NUMBER: 1050383
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2023
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
Report of the Trustees
for the Year Ended 31 December 2023
The trustees present their report with the financial statements of 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 Republic of Ireland (FRS 102) (effective 1 January 2019).
The trustees are pleased to present their report for the year ended 31 December 2023 for the charity, AL ASR Scholastic Research Establishment with Charity Number 1050383
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.
Page 1
AL ASR Scholastic Research Establishment
Report of the Trustees
for the Year Ended 31 December 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
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.
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
-
Mr. Mohammad Iqbal Shah
-
Mr. Mohammad Iqbal Davdani
-
Mr. Mushtaq Hussain Shah
-
Mr. Zahoor Abbas Shah
Independent Examiner
Murtaza Visram Preston Accountants Limited. Chartered Certified Accountants 1 Carlton Parade Preston Road Wembley Middlesex HA9 8NE
Approved by order of the board of trustees on 9 September 2024 and signed on its behalf by:
S Sabzwary - Trustee
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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 2023.
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
Preston Accountants Limited. Chartered Certified Accountants 1 Carlton Parade Preston Road Wembley Middlesex HA9 8NE
9 September 2024
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AL ASR Scholastic Research Establishment
Statement of Financial Activities
for the Year Ended 31 December 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Various donors 80,753 Investment income 2 2,232 Other income 6,296 Total 89,281 EXPENDITURE ON Charitable activities Governance costs 4,198 Various donors 61,710 Support Cost 22,442 Staff cost 14,555 Premises cost 30,497 Total 133,402 NET INCOME/(EXPENDITURE) (44,121) RECONCILIATION OF FUNDS Total funds brought forward 968,395 TOTAL FUNDS CARRIED FORWARD 924,274 |
Restricted fund £ - - - - - - - - - - - - - |
31.12.23 31.12.22 Total Total funds funds £ £ 80,753 95,532 2,232 446 6,296 20,581 89,281 116,559 4,198 3,046 61,710 54,255 22,442 16,072 14,555 14,120 30,497 23,677 133,402 111,170 (44,121) 5,389 968,395 963,006 924,274 968,395 |
|---|---|---|
The notes form part of these financial statements
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AL ASR Scholastic Research Establishment
Statement of Financial Position
31 December 2023
| Notes FIXED ASSETS Tangible assets 6 CURRENT ASSETS Debtors 7 Cash at bank CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 9 NET ASSETS FUNDS 12 Unrestricted funds TOTAL FUNDS |
Unrestricted fund £ 850,811 7,572 205,427 212,999 (27,709) 185,290 1,036,101 (111,827) 924,274 |
Restricted fund £ - - - - - - - - - |
31.12.23 Total funds £ 850,811 7,572 205,427 212,999 (27,709) 185,290 1,036,101 (111,827) 924,274 924,274 924,274 |
31.12.22 Total funds £ 870,001 4,655 247,972 252,627 (15,531) 237,096 1,107,097 (138,702) 968,395 968,395 968,395 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 9 September 2024 and were signed on its behalf by:
S Sabzwary - Trustee
The notes form part of these financial statements
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AL ASR Scholastic Research Establishment
Notes to the Financial Statements
for the Year Ended 31 December 2023
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 exemption 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 |
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.
continued...
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AL ASR Scholastic Research Establishment
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Deposit account interest | 2,232 | 446 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
5.
| Employees | 31.12.23 2 |
31.12.22 2 |
||
|---|---|---|---|---|
| No employees received emoluments in excess of £60,000. | ||||
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL | ACTIVITIES | |||
| INCOME AND ENDOWMENTS FROM | Unrestricted fund £ |
Restricted fund £ |
Total funds £ |
|
| Charitable activities | ||||
| Various donors | 95,532 | - | 95,532 | |
| Investment income | 446 | - | 446 | |
| Other income | 20,581 | - | 20,581 | |
| Total | 116,559 | - | 116,559 | |
| EXPENDITURE ON | ||||
| Charitable activities | ||||
| Governance costs | 3,046 | - | 3,046 | |
| Various donors | 54,255 | - | 54,255 | |
| Support Cost | 16,072 | - | 16,072 | |
| Staff cost | 14,120 | - | 14,120 | |
| Premises cost | 23,677 | - | 23,677 | |
| Total | 111,170 | - | 111,170 | |
| NET INCOME | 5,389 | - | 5,389 | |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 963,006 | - | 963,006 | |
| Page 7 | continued... |
AL ASR Scholastic Research Establishment
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| TOTAL FUNDS CARRIED FORWARD 6. TANGIBLE FIXED ASSETS Freehold property £ COST At 1 January 2023 and 31 December 2023 732,342 DEPRECIATION At 1 January 2023 53,401 Charge for year 14,647 At 31 December 2023 68,048 NET BOOK VALUE At 31 December 2023 664,294 At 31 December 2022 678,941 Included in the net carrying amount of freehold and leasehold properties is (2022: £868,300) pledged as security against the charity’s bank loans. 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors |
Unrestricted fund £ 968,395 Long leasehold £ 205,826 16,468 4,117 20,585 185,241 189,358 £849,535 |
Restricted fund £ - Fixtures and fittings £ 35,742 34,040 426 34,466 1,276 1,702 31.12.23 £ 7,572 |
Total funds £ 968,395 Totals £ 973,910 103,909 19,190 123,099 850,811 870,001 31.12.22 £ 4,655 |
|---|---|---|---|
continued...
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AL ASR Scholastic Research Establishment
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
| 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 £ Bank loans and overdrafts (see note 10) 27,727 Taxation and social security (18) 27,709 9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.12.23 £ Bank loans (see note 10) 111,827 10. LOANS An analysis of the maturity of loans is given below: 31.12.23 £ Amounts falling due within one year on demand: Bank loans 27,727 Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal 111,827 11. SECURED DEBTS The following secured debts are included within creditors: 31.12.23 £ 22 Portugal Road 81,429 118 Goldsworth Road 58,125 139,554 |
31.12.22 £ 14,289 1,242 15,531 31.12.22 £ 138,702 31.12.22 £ 14,289 138,702 31.12.22 £ 89,270 63,721 152,991 |
|---|---|
continued...
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AL ASR Scholastic Research Establishment
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
12. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS Comparative net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
At 1.1.23 £ 968,395 968,395 Incoming resources £ 89,281 89,281 At 1.1.22 £ 963,006 963,006 Incoming resources £ 116,559 116,559 |
Net movement At in funds 31.12.23 £ £ (44,121) 924,274 (44,121) 924,274 Resources Movement expended in funds £ £ (133,402) (44,121) (133,402) (44,121) Net movement At in funds 31.12.22 £ £ 5,389 968,395 5,389 968,395 Resources Movement expended in funds £ £ (111,170) 5,389 (111,170) 5,389 |
|---|---|---|
continued...
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AL ASR Scholastic Research Establishment
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.22 £ 963,006 963,006 |
Net movement At in funds 31.12.23 £ £ (38,732) 924,274 (38,732) 924,274 |
|---|---|---|
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 £ 205,840 205,840 |
Resources Movement expended in funds £ £ (244,572) (38,732) (244,572) (38,732) |
|---|---|---|
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
14. 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.
continued...
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AL ASR Scholastic Research Establishment
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
15. INDEPENDENT EXAMINER'S REMUNERATION
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Examination of the financial statements | 1,914 | 1,914 |
16. GOING CONCERN
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
17. EVENTS AFTER REPORTING PERIOD
Subsequent to the balance sheet date and prior to the approval of these financial statements, Ms. Sabera Kirmani, a trustee of Al ASR Scholastic Research Establishment, submitted her resignation on February 28, 2024.
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AL ASR Scholastic Research Establishment
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 December 2023 | ||
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Investment income | ||
| Deposit account interest | 2,232 | 446 |
| Charitable activities | ||
| Donations | 31,689 | 35,903 |
| Educational Trip | 25,453 | 27,490 |
| Gift aid | 2,917 | 4,655 |
| Donations for Najaf project | 20,694 | 27,484 |
| Other income | 80,753 | 95,532 |
| Gain on sale of tangible fixed assets | - | 3,568 |
| Rental Income | 6,296 | 17,013 |
| 6,296 | 20,581 | |
| Total incoming resources | 89,281 | 116,559 |
| EXPENDITURE | ||
| Charitable activities | ||
| Najaf project expenses | 13,764 | 2,015 |
| Donations | 31,389 | 23,863 |
| Support costs | 45,153 | 25,878 |
| Management | ||
| Sundries | - | 214 |
| Legal & Professional Fees | 1,500 | - |
| Finance | 1,500 | 214 |
| Bank charges | 222 | 482 |
| Bank loan interest | 8,412 | 3,961 |
| 8,634 | 4,443 | |
| Information technology | ||
| Computer & Internet | - | 653 |
| Human resources | ||
| Postage and stationery | 1,119 | - |
| Carried forward | 1,119 | - |
This page does not form part of the statutory financial statements
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AL ASR Scholastic Research Establishment
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
| Detailed Statement of Financial Activities for the Year Ended 31 December 2023 |
||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Human resources | ||
| Brought forward | 1,119 | - |
| Lecturing Costs | 11,310 | 10,200 |
| Other | 12,429 | 10,200 |
| Wages | 14,528 | 14,029 |
| Pensions | 27 | 91 |
| Rent, Rates and Insurance | 408 | 1,807 |
| Light and heat | 11,325 | 2,538 |
| Telephone | 953 | 1,429 |
| Educational Trip Expenses | 16,557 | 27,510 |
| Other 3 | 43,798 | 47,404 |
| Dep of freehold property | 14,647 | 14,647 |
| Dep of long leasehold | 4,117 | 4,117 |
| Dep of fixtures & fittings | 426 | 568 |
| Governance costs | 19,190 | 19,332 |
| Accountancy Fees | 1,914 | 1,914 |
| Payroll and Book Keeping Fees | 784 | 1,132 |
| 2,698 | 3,046 | |
| Total resources expended | 133,402 | 111,170 |
| Net (expenditure)/income | (44,121) | 5,389 |
This page does not form part of the statutory financial statements
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AL ASR Scholastic Research Establishment
Contents of the Financial Statements for the Year Ended 31 December 2023
| 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 | 12 |
| Detailed Statement of Financial Activities | 13 | to | 14 |