OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-12-31-accounts

Charity Registration No. 1079416

ABU-HANEEFA EDUCATIONAL TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

ABU-HANEEFA EDUCATIONAL TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Charity number Principal address Independent examiner

Aqeel Lone Abdul Hamid Hanif Khan Abu Haneefa Educational Trust

1079416 339-341 Bath Road Slough Berkshire SL1 5PR MAH Accountants 40 Elliman Avenue SLOUGH Berkshire SL2 5BG

ABU-HANEEFA EDUCATIONAL TRUST

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 12

ABU-HANEEFA EDUCATIONAL TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees present their report and financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's [governing document], the Charities Act 2011 and "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

Our objectives

Our objectives are set out to reflect our faith and community aims. Our dual aims remain to provide a facility where Muslims can worship and to provide a community facility for all the inhabitants of Slough. Our long-term ambition is to build the self-confidence of Slough's Muslims in their faith, and through our community facilities and activities help make our area a peaceful, vibrant and harmonious community.

Use of volunteers

Volunteers are an important resource in both our faith and community work. Volunteers are involved in most of our faith and community activities. We encourage all members of our centre to be involved in voluntary activities and to share their skills with others.

Donation-making policy

Those attending our Centre have given generously to disaster appeals arising from natural calamities affecting various countries around the world. We administered the receipt and distribution of Zakat and Fitrana, which is collected and distributed in accordance with the teachings of Islam for the relief of those in poverty and the destitute.

Our aims

The objects of the charity are set out in the charity's trust deed and are summarised as follows:

ABU-HANEEFA EDUCATIONAL TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance

The Reception Area works were completed in January 2023, including the installation of the Donation cabinets and digital screens for the use of members.

The AL-Madani Independent Grammar School(AMIGS) for Boys delivered another successful year in relation to GCSE campaign with 100% achieving 9-4 grades. The total number of pupils was 80.

AL-Madani Girls Secondary school run by the trust continued its remarkable success with its 8th Batch of GCSE results of 100% achieving 9-4 grades – a fantastic achievement. The total number of pupils was 75.

The number of children attending the MAKTAB (After school Quran club) was up to 185 with as many on the waiting list.We had 15 students graduating from the Maktab and 1 students had their HIFZ completion ceremony.

The Full-time Alamiyyah course progressed into its final year with 5 students.

A Monthly youth Event for Teenagers (11-19year Olds) was commenced in the year attracting up to 90 youngsters. In Adult learning, the Imaams deliver regular weekly Fiqh and Seerah classes for AL along with tailored Quran sessions to suit the members.

Financial review

The financial results of the charity are set out on page 4.

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Structure, governance and management

Abu-Haneefa Educational Trust is a UK registered charitable trust established in 2000 and is based in Slough. The charity is managed by 3 trustees and operates with the support of volunteers who are responsible for the operations of the charity.

The Trustees who served during the year and up to the date of signature of the financial statements were: Aqeel Lone Abdul Hamid Hanif Khan Abu Haneefa Educational Trust

The Trustees' report was approved by the Board of Trustees.

Aqeel Lone

Trustee Dated:

ABU-HANEEFA EDUCATIONAL TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF ABU-HANEEFA EDUCATIONAL TRUST

I report to the Trustees on my examination of the financial statements of Abu-Haneefa Educational Trust (the Charity) for the year ended 31 December 2023.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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:

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 financial statements to be reached.

Muhammad Ahsan Hafeez MAH Accountants 40 Elliaman Avenue SLOUGH Berkshire SL2 5BG

Dated:

ABU-HANEEFA EDUCATIONAL TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

**Unrestricted ** Unrestricted
funds funds
2023 2022
Notes £ £
Income and endowments from:
Donations and other incoming resources 3 467,780 411,102
Charitable activities 4 505,327 476,665
Other income 5 5,000 8,226
Total income 978,107 895,993
Expenditure on:
Raising funds 6 353,792 272,486
Charitable activities 7 548,506 479,508
Total resources expended 902,298 751,994
Net income for the year/
Net movement in funds 75,809 143,999
Fund balances at 1 January 2023 918,882 774,883
Fund balances at 31 December 2023 994,691 918,882

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

ABU-HANEEFA EDUCATIONAL TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes
Fixed assets
Tangible assets
11
Current assets
Cash at bank and in hand
Creditors: amounts falling due within
one year
13
Net current (liabilities)/assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
14
Net assets
Income funds
Unrestricted funds		 2023
£
£
2,002,499
93,822
(243,549)
(149,727)
1,852,772
(858,081)
994,691
994,691
994,691		 2022
£
£
2,008,267
79,630
(56,783)
22,847
2,031,114
(1,112,232)
918,882
918,882
918,882

The financial statements were approved by the Trustees on

Aqeel Lone Abdul Hamid Trustee Trustee

ABU-HANEEFA EDUCATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's [governing document], the Charities Act 2011 and "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 Charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.

1.4 Income

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

ABU-HANEEFA EDUCATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Resources expended Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.

All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. floor areas, per capita or estimated usage as set out in the notes to the accounts.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings variable rate Plant and machinery 20% reducing balance method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ABU-HANEEFA EDUCATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

ABU-HANEEFA EDUCATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

3
4
5
6		 Donations and other incoming resources
2023
2022
£
£
Donations and gifts
424,754
399,229
Zakat, fitrana & other
43,026
11,873
467,780
411,102
Charitable activities
Donations
Donations
2023
2022
£
£
School income
505,327
476,665
Other income
2023
2022
£
£
Employer allowance
5,000
4,726
Reimbursement cost
-
-
Funeral Services
-
3,500
5,000
8,226
Raising funds
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Fundraising and publicity
Subcontractors
290,355
235,681
Support costs
63,437
36,805
Fundraising and publicity
353,792
272,486
353,792
272,486		 2022
£
399,229
11,873
411,102
272,486
272,486

ABU-HANEEFA EDUCATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

7 Charitable activities

Governance
costs
Charitable
Expenditure
Heading 6
£
£
Staff costs
-
364,906
Depreciation and impairment
-
31,971
Rent & rates
28,808
-
Insurance
1,820
-
Light & heat
56,233
-
Repair and maintenance
17,743
-
Postage and stationery
1,963
-
Telephone cost
1,755
-
Legal fee
-
-
Sundry expenses
94
-
Computer expenses
187
-
108,603
396,877
Zakat, Fitrana & others
43,026
-
151,629
396,877
Grants payable
Grants to institutions:
Zakat & fitrana		 Total
2023
£
364,906
31,971
28,808
1,820
56,233
17,743
1,963
1,755
-
94
187
505,480
43,026
548,506
2023
£
43,026
43,026		 Total
2022
£
355,230
29,749
20,622
1,393
20,188
28,816
6,992
1,793
300
2,600
1,415
469,097
10,411
479,508
2022
£
11,873
11,873

8 Grants payable

9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.

ABU-HANEEFA EDUCATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

10 Employees

Number of employees

The average monthly number of employees during the year was:

Employee
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2023
Number
44
2023
£
354,886
10,020
-
364,906		 2022
Number
43
2022
£
344,483
10,747
-
355,230

There were no employees whose annual remuneration was £60,000 or more. 11 Tangible fixed assets

Cost
At 1 January 2023
Additions
At 31 December 2023
Depreciation and impairment
At 1 January 2023
Depreciation charged in the year
At 31 December 2023
Carrying amount
At 31 December 2023
At 31 December 2022
12
Financial instruments
Carrying amount of financial liabilities
Other creditors		 Land and
buildings
£
2,128,287
22,962
2,151,249
134,455
28,436
162,891
1,988,358
1,993,831		 Plant and
machinery
£
77,133
3,240
80,373
62,697
3,535
66,232
14,141
14,436
2023
£
1,101,630		 Total
£
2,205,420
26,202
2,231,622
197,153
31,971
229,123
2,002,499
2,008,267
2022
£
1,169,016

ABU-HANEEFA EDUCATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

13 Creditors: amounts falling due within one year

Other taxation and social security
Other creditors
Accruals and deferred income
14
Creditors: amounts falling due after more than one year
Karze Hassna		 2023
£
2,851
50,879
189,819
243,549
2023
£
858,081		 2022
£
6,999
49,784
-
56,783
2022
£
1,112,232

15 Retirement benefit schemes

Defined contribution schemes

The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was Nil (2022 - Nil).

16 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).